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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	June 15, 2006
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  	Municipal Mortgage & Equity, LLC
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	001-11981
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  	52-1449733
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	621 E Pratt Street, Suite 300, Baltimore, Maryland
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  	21202
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	(443) 263-2900
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 1.01 Entry into a Material Definitive Agreement.
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  MMA Realty Capital Repurchase Subsidiary, LLC ("MRC-RS"), an indirect wholly owned subsidiary of the registrant, has entered into a Mortgage Asset Purchase Agreement, dated as of June 15, 2006, and other ancillary  agreements (collectively, the "Repurchase Facility") with Wachovia Bank, National Association (the "Bank").  The Repurchase Facility provides for the Bank to purchase up to $260,000,000 of certain qualifying mortgage loan assets from MRC-RS, subject to MRC-RS&#x2019;s obligation to repurchase such mortgage loan assets from the Bank and the other terms and conditions of the Repurchase Facility.  These mortgage loan assets will be repurchased by MRC-RS from the Bank by September 13, 2006, at which time the facility expires. MRC-RS may, at its option, repurchase mortgage loan assets prior to the expiration of the Facility.  The registrant has guaranteed all obligations of MRC-RS under the Repurchase Facility, and the stock of MRC-RS has been pledged to the Bank as collateral for its obligations under the Repurchase Facility.<br><br>The Repurchase Facility provides for the Bank to receive an investment return rate with respect to each mortgage loan asset purchased, based on the time during which the Bank holds the mortgage loan asset, at the one month London Interbank Offered Rate plus a spread.<br><br>The Repurchase Facility requires the registrant to maintain a minimum consolidated tangible net worth, a maximum consolidated leverage ratio, minimum liquidity, a maximum consolidated senior indebtedness ratio, and a minimum consolidated interest and distributions coverage ratio.  The Repurchase Facility also requires MRC-RS to post additional collateral to the Bank in the event that the value of the mortgage loan assets purchased by the Bank declines below certain thresholds.  <br><br>The Repurchase Facility contains customary events of default including, among others, (a) the failure of MRC-RS to repurchase a mortgage loan asset at the time required, (b) the failure to pay the principal and interest received by MRC-RS for mortgage loan assets sold under the facility, (c) the failure to pay certain other amounts required to be paid under the facility, (d) breach of representations, warranties or covenants, (e) the insolvency of the registrant, MRC-RS or certain other affiliates of the registrant, and (f) the acceleration of certain other indebtedness. Upon the occurrence of such events, among other remedies, the Bank may accelerate the repurchase date for the mortgage loan assets.<br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (d) Exhibits<br><br>10.1  Mortgage Asset Purchase Agreement, dated as of June 15, 2006, with Wachovia Bank, National Association (the "Bank").<br><br>10.2  Custodial Agreement, dated as of June 15, 2006, by and among MMA Realty Capital Repurchase Subsidiary, LLC, the Bank and Wells Fargo Bank, National Association, as the custodian.<br><br>10.3  Pledge and Security Agreement, dated as of the June 15, 2006, by MMA Capital Corporation, as the pledgor, for the benefit of the Bank.<br><br>10.4  Guaranty Agreement, dated as of June 15, 2006, by the registrant, for the benefit of the Bank.
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Municipal Mortgage & Equity, LLC
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  	&nbsp;&nbsp;
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  <I>
  	June 21, 2006
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  	By:
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  <I>
  	Greg Thor
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  <I>
  	Name: Greg Thor
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  <I>
  	Title: Senior Vice President and Controller
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	10.1
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  	&nbsp;
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  Mortgage Asset Purchase Agreement, dated as of June 15, 2006, with Wachovia Bank, National Association (the "Bank")
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  	10.2
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  Custodial Agreement, dated as of June 15, 2006, by and among MMA Realty Capital Repurchase Subsidiary, LLC, the Bank and Wells Fargo Bank, National Association, as the custodian
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  	10.3
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  Pledge and Security Agreement, dated as of the June 15, 2006, by MMA Capital Corporation, as the pledgor, for the benefit of the Bank
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  	10.4
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  Guaranty Agreement, dated as of June 15, 2006, by the registrant, for the benefit of the Bank
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_13290.htm", "description": "LIVE FILING", "secsgml_size_bytes": 14033}]
metadata_filer: {"company-data": {"conformed-name": "MUNICIPAL MORTGAGE & EQUITY LLC", "cik": "0001003201", "assigned-sic": "6500", "irs-number": "521449733", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11981", "film-number": "06916619"}, "business-address": {"street1": "621 E PRATT STREET", "street2": "SUITE 300", "city": "BALTIMORE", "state": "MD", "zip": "21202", "phone": "(443) 263-2900"}, "mail-address": {"street1": "621 E PRATT STREET", "street2": "SUITE 300", "city": "BALTIMORE", "state": "MD", "zip": "21202"}}
text: Municipal Mortgage & Equity, LLC (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  June 15, 2006
  Municipal Mortgage & Equity, LLC
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  001-11981
  52-1449733
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  621 E Pratt Street, Suite 300, Baltimore, Maryland
  21202
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (443) 263-2900
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  MMA Realty Capital Repurchase Subsidiary, LLC ("MRC-RS"), an indirect wholly owned subsidiary of the registrant, has entered into a Mortgage Asset Purchase Agreement, dated as of June 15, 2006, and other ancillary  agreements (collectively, the "Repurchase Facility") with Wachovia Bank, National Association (the "Bank").  The Repurchase Facility provides for the Bank to purchase up to $260,000,000 of certain qualifying mortgage loan assets from MRC-RS, subject to MRC-RS's obligation to repurchase such mortgage loan assets from the Bank and the other terms and conditions of the Repurchase Facility.  These mortgage loan assets will be repurchased by MRC-RS from the Bank by September 13, 2006, at which time the facility expires. MRC-RS may, at its option, repurchase mortgage loan assets prior to the expiration of the Facility.  The registrant has guaranteed all obligations of MRC-RS under the Repurchase Facility, and the stock of MRC-RS has been pledged to the Bank as collateral for its obligations under the Repurchase Facility.
  The Repurchase Facility provides for the Bank to receive an investment return rate with respect to each mortgage loan asset purchased, based on the time during which the Bank holds the mortgage loan asset, at the one month London Interbank Offered Rate plus a spread.
  The Repurchase Facility requires the registrant to maintain a minimum consolidated tangible net worth, a maximum consolidated leverage ratio, minimum liquidity, a maximum consolidated senior indebtedness ratio, and a minimum consolidated interest and distributions coverage ratio.  The Repurchase Facility also requires MRC-RS to post additional collateral to the Bank in the event that the value of the mortgage loan assets purchased by the Bank declines below certain thresholds.
  The Repurchase Facility contains customary events of default including, among others, (a) the failure of MRC-RS to repurchase a mortgage loan asset at the time required, (b) the failure to pay the principal and interest received by MRC-RS for mortgage loan assets sold under the facility, (c) the failure to pay certain other amounts required to be paid under the facility, (d) breach of representations, warranties or covenants, (e) the insolvency of the registrant, MRC-RS or certain other affiliates of the registrant, and (f) the acceleration of certain other indebtedness. Upon the occurrence of such events, among other remedies, the Bank may accelerate the repurchase date for the mortgage loan assets.
  Item 9.01 Financial Statements and Exhibits.
  (d) Exhibits
  10.1  Mortgage Asset Purchase Agreement, dated as of June 15, 2006, with Wachovia Bank, National Association (the "Bank").
  10.2  Custodial Agreement, dated as of June 15, 2006, by and among MMA Realty Capital Repurchase Subsidiary, LLC, the Bank and Wells Fargo Bank, National Association, as the custodian.
  10.3  Pledge and Security Agreement, dated as of the June 15, 2006, by MMA Capital Corporation, as the pledgor, for the benefit of the Bank.
  10.4  Guaranty Agreement, dated as of June 15, 2006, by the registrant, for the benefit of the Bank.
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  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Municipal Mortgage & Equity, LLC
  June 21, 2006
  By:
  Greg Thor
  Name: Greg Thor
  Title: Senior Vice President and Controller
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  Exhibit Index
  Exhibit No.
  Description
  10.1
  Mortgage Asset Purchase Agreement, dated as of June 15, 2006, with Wachovia Bank, National Association (the "Bank")
  10.2
  Custodial Agreement, dated as of June 15, 2006, by and among MMA Realty Capital Repurchase Subsidiary, LLC, the Bank and Wells Fargo Bank, National Association, as the custodian
  10.3
  Pledge and Security Agreement, dated as of the June 15, 2006, by MMA Capital Corporation, as the pledgor, for the benefit of the Bank
  10.4
  Guaranty Agreement, dated as of June 15, 2006, by the registrant, for the benefit of the Bank