C-BASS 2004-CB8 TRUST
Not Applicable.
Not Applicable.
None.
Not Applicable.
The Registrant knows of no material pending legal proceedings involving          the trust created under the Pooling and Servicing Agreement, the          Trustee, the Servicer or the Registrant with respect to the trust other          than routine litigation incidental to the duties of the respective          parties.
No matter was submitted to a vote or consent of Holders of the Offered          Certificates during the fiscal year covered by this report.  PART II
Currently, there is no established secondary market for the          Certificates known to the Registrant. As of December 31, 2005, the          number of holders of each class of offered certificates was 75 based on          records provided by DTC.
Not Applicable.
Not Applicable.
Not Applicable.
Not Applicable.
None.
Not Applicable.
Not Applicable.                                       -2-   PART III
Not Applicable.
Not Applicable.
Not Applicable.
No reportable transactions have occurred.
Not Applicable.  PART IV
(a) The following documents are filed as part of this report:      (1)  Financial Statements:           Not Applicable.      (2)  Financial Statement Schedules:           Not Applicable.      (3)  Exhibits:           Rule 13a-14(a)/15d-14(a) Certification, filed as 31.1 hereto.           Annual Independent Registered Public Accounting Firm's Servicing          Report with Management Assertion, filed as Exhibit 99.1 hereto.           Annual Servicer's Statement of Compliance, filed as Exhibit 99.2          hereto.  (b) Exhibits to this report are listed in Item (15)(a)(3)above.  (c) Not Applicable.                                         -3-     SIGNATURE  Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange Act of 1934,  the  registrant  has duly  caused  this report to be signed on its behalf by the undersigned thereunto duly authorized.                   MERRILL LYNCH MORTGAGE INVESTORS, INC.                  2004-CB8 Trust                  C-BASS Mortgage Loan Asset-Backed Certificates, Series 2004-CB8                   By: LITTON LOAN SERVICING LP, as Servicer                    By: /s/ Larry B. Litton, Jr.                      -----------------------------------------                Name: Larry B. Litton, Jr.               Title: President and Chief Executive Officer                Date: March 29, 2006                                        -4-      SUPPLEMENTAL  INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.  The  registrant  has not sent an annual report or proxy material to its security holders.  The registrant  will not be sending an annual report or proxy material to its security holders subsequent to the filing of this form.                                        -5-                                     EXHIBIT INDEX   Exhibit Description  31.1    Rule 13a-14(a)/15d-14(a) Certification.  99.1    Annual Independent Registered Public Accounting Firm's Servicing Report         with Management Assertion          Litton Loan Servicing LP  99.2    Annual Statement as to Compliance          Litton Loan Servicing LP                                         -6-                                     EXHIBIT 31.1                      Rule 13a-14(a)/15d-14(a) Certification                                   2004-CB8 TRUST,         C-BASS MORTGAGE LOAN ASSET-BACKED CERTIFICATES, SERIES 2004-CB8        I, Larry B. Litton,  Jr.,  President and Chief Executive  Officer of Litton Loan Servicing LP, certify that:       1.   I have reviewed  this annual  report on Form 10-K,  and all reports on           Form   8-K   containing   a  copy   of  the   monthly   statement   to           certificateholders  set  forth  in  Section  4.06 of the  Pooling  and           Servicing Agreement,  dated as of December 31, 2004 (the "Agreement"),           among  Asset   Backed   Funding   Corporation,   as   depositor   (the           "Depositor"),  Credit-Based Asset Servicing and Securitization LLC, as           seller (the  "Seller"),  Litton Loan  Servicing  LP, as servicer  (the           "Servicer"),   and  JPMorgan   Chase  Bank,   N.A.,  as  trustee  (the           "Trustee"),  filed in respect of periods  included in the year covered           by this annual report, of the 2004-CB8 Trust (the "Trust");       2.   Based on my knowledge,  the  information in these reports,  taken as a           whole,  does not contain any untrue  statement  of a material  fact or           omit to state a material fact necessary to make the  statements  made,           in light of the  circumstances  under which such statements were made,           not misleading as of the last day of the period covered by this annual           report;       3.   Based on my knowledge,  the distribution information and the servicing           information  required to be  provided  to the Trustee by the  Servicer           under the Agreement is included in these reports;       4.   I am  responsible  for  reviewing  the  activities  performed  by  the           Servicer under the Agreement and based upon the review  required under           that  Agreement,  and except as disclosed in the report,  the Servicer           has fulfilled its obligations under that Agreement; and       5.   The reports  disclose  all  significant  deficiencies  relating to the           Servicer's  compliance with the minimum servicing standards based upon           the  report  provided  by  an  independent  public  accountant,  after           conducting a review in compliance with the Uniform Single  Attestation           Program for Mortgage Bankers or similar procedure, as set forth in the           Agreement, that is included in these reports.       6.   In  giving  the  certifications  above,  I have  reasonably  relied on           information  provided  to me by the  following  unaffiliated  parties:           JPMorgan Chase Bank, N.A.                          LITTON LOAN SERVICING LP                          By:  /s/ Larry B. Litton, Jr.                             -----------------------------------------                             Larry B. Litton, Jr.                             President and Chief Executive Officer                        Date: March 29, 2006                                         -7-                                     EXHIBIT 99.1      Annual Independent Registered Public Accounting Firm's Servicing Report                             with Management Assertion                                                         Deloitte & Touche LLP                                                      Suite 2300                                                      333 Clay Street                                                      Houston, Texas  77002-4196                                                      USA                                                      Tel +1 713 982 2000                                                      Fax +1 713 982 2001                                                      www.deloitte.com  REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM   To The Partners of Litton Loan Servicing LP:       We have examined management's assertion that Litton Loan Servicing LP (the Company) has complied as of and for the year ended  December 31, 2005,  with its established minimum servicing standards described in the accompanying Management Assertion  Report dated  February 7, 2006.  Management is  responsible  for the Company's compliance with those minimum servicing standards.  Our responsibility is  to  express  an  opinion  on  management's  assertion  about  the  Company's compliance based on our examination.      Our  examination  was conducted in accordance  with  attestation  standards established  by the  American  Institute  of Certified  Public  Accountants,  as adopted by the  Public  Company  Accounting  Oversight  Board and,  accordingly, included  examining,  on a test basis,  evidence about the Company's  compliance with its minimum servicing  standards and performing such other procedures as we considered  necessary  in the  circumstances.  We believe  that our  examination provides a reasonable basis for our opinion.  Our examination does not provide a legal  determination  of the  Company's  compliance  with its minimum  servicing standards.       In our opinion,  management's  assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2005, is fairly  stated, in all material  respects based on the criteria set forth in Appendix I.  /s/ Deloitte & Touche LLP - ------------------------  February 7, 2006                                        -8-   LITTON LOAN SERVICING L.P.  APPENDIX I - MINIMUM SERVICING STANDARDS AS SET FORTH IN THE MORTGAGE BANKERS ASSOCIATION OF AMERICA'S UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS - -------------------------------------------------------------------------------  I. CUSTODIAL BANK ACCOUNTS     1. Reconciliations shall be prepared on a monthly basis for all custodial       bank accounts and related bank clearing accounts. These reconciliations       shall:        .  be mathematically accurate;        .  be prepared within forty-five(45) calendar days after the cutoff date;        .  be reviewed and approved by someone other than the person who prepared          the reconciliation; and        .  document explanations for reconciling items.  These reconciling items          shall be resolved within ninety (90) calendar days of their original          identification.     2. Funds of the servicing entity shall be advanced in cases where there is an       overdraft in an investor's or a mortgagor's account.     3. Each custodial account shall be maintained at a federally insured       depository institution in trust for the applicable investor.     4. Escrow funds held in trust for a mortgagor shall be returned to the       mortgagor within thirty (30) calendar days of payoff of the mortgage loan.  II. MORTGAGE PAYMENTS     1. Mortgage  payments shall be deposited into the custodial bank accounts and       related bank clearing accounts within two business days of receipt.     2. Mortgage  payments made in accordance with the mortgagor's loan documents       shall be posted to the applicable mortgagor records within two business       days of receipt.     3. Mortgage payments shall be allocated to principal, interest, insurance,       taxes or other escrow items in accordance with the mortgagor's loan       documents.     4. Mortgage payments identified as loan payoffs shall be allocated in       accordance with the mortgagor's loan documents.  III. DISBURSEMENTS     1. Disbursements made via wire transfer on behalf of a mortgagor or investor       shall be made only by authorized personnel.     2. Disbursements made on behalf of a mortgagor or investor shall be posted       within two business days to the mortgagor's or investor's records       maintained by the servicing entity.     3. Tax and insurance payments shall be made on or before the penalty or       insurance policy expiration dates, as indicated on tax bills and insurance       premium notices, respectively, provided that such support has been       received by the servicing entity at least thirty (30) calendar days prior       to these dates.     4. Any late payment penalties paid in conjunction with the payment of any tax       bill or insurance premium notice shall be paid from the servicing entity's       funds and not charged to the mortgagor, unless the late payment was due to       the mortgagor's error or omission.     5. Amounts remitted to investors per the servicer's investor reports shall       agree with cancelled checks, or other form of payment, or custodial bank       statements.     6. Unused checks shall be safeguarded so as to prevent unauthorized access.  IV. INVESTOR ACCOUNTING AND REPORTING     1. The servicing entity's investor reports shall agree with, or reconcile to,       investors' records on a monthly basis as to the total unpaid principal       balance and number of loans serviced by the servicing entity.  V. MORTGAGOR LOAN ACCOUNTING     1. The servicing entity's mortgage loan records shall agree with, or       reconcile to, the records of mortgagors with respect to the unpaid       principal balance on a monthly basis.     2. Adjustments on ARM loans shall be computed based on the related mortgage       note and any ARM rider.     3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan       documents, on at least an annual basis.     4. Interest on escrow  accounts  shall be paid, or credited, to mortgagors in       accordance with the applicable state laws.  VI. DELINQUENCIES     1. Records  documenting  collection  efforts  shall be maintained  during the       period a loan is in default  and shall be updated  at least monthly.  Such       records shall  describe the entity's  activities in monitoring  delinquent       loans  including,  for example,  phone calls, letters and mortgage payment       rescheduling  plans in cases  where the delinquency  is  deemed  temporary       (e.g., illness or unemployment).  VII. INSURANCE POLICIES     1. A fidelity bond and errors and  omissions policy shall be in effect on the       servicing entity throughout the reporting period in the amount of coverage       represented to investors in management's assertion.                                        -9-                                                             4828 Loop Central Drive LITTON LOAN SERVICING                                      Houston, Texas  77081                                                         Telephone 1-800-999-8501                                                                 Fax 713-966-8830                                                               www.littonloan.com   February 7, 2006   MANAGEMENT ASSERTION REPORT  As of and for the year ended  December 31, 2005,  Litton Loan  Servicing LP (the Company) has complied,  in all material  respects,  with the  Company's  minimum servicing  standards for  residential  mortgage loans as set forth in Appendix I (the "Standards").  The Standards are based on the Mortgage Bankers  Association of America's Uniform Single Attestation  Program for Mortgage Bankers. As of and for this same period,  Litton Loan Servicing LP had in effect a fidelity bond in the amount of  $50,000,000  and an errors and omissions  policy in the amount of $50,000,000.    /s/ Larry B. Litton, Jr. - ----------------------------------------- Larry B. Litton, Jr. President & CEO   /s/ Elizabeth Folk - ------------------------------------------ Elizabeth Folk Senior Vice President and Chief Financial Officer                                        -10-                                     EXHIBIT 99.2                         ANNUAL STATEMENT AS TO COMPLIANCE                                  --------------                              LITTON LOAN SERVICING LP                              An affiliate of C-BASS - ------------------------------------------------------------------------------- 4828 Loop Central Drive                                Telephone (713) 966-8801 Houston, Texas  77081                                        Fax (713) 960-0539   February 23, 2006  Institutional Trust Services JPMorgan Chase Bank 4 New York Plaza, 6th Floor New York, NY  10004  RE: 2004-CB8 Trust, C-BASS Mortgage Loan Asset-Backed Certificates,     Series 2004-CB8  To Whom It May Concern:  The  undersigned  officer  of Litton  Loan  Servicing  LP  provides  the  Annual Statement as to Compliance  as required by the Pooling and  Servicing  Agreement for the  above  referenced  security  and  certifies  that (i) a  review  of the activities of the Servicer  during such  preceding  fiscal year (or such shorter period in the case of the first  such  report)  and of  performance  under  this Agreement  has  been  made  under  my  supervision,  and  (ii) to the best of my knowledge,  based on such review, the Servicer has fulfilled all its obligations under this Agreement for 2005.   Sincerely,   /s/ Janice McClure                            /s/  Ann Kelley - ---------------------                        ----------------------- Janice McClure                               Ann Kelley Senior Vice President                        Secretary                                         -11-    -----END PRIVACY-ENHANCED MESSAGE-----