Plays an important role in endoplasmic reticulum-associated degradation (ERAD) that mediates ubiquitin-dependent degradation of misfolded endoplasmic reticulum proteins (PubMed:18711132, PubMed:24215460). By controlling the steady-state expression of the IGF1R receptor, indirectly regulates the insulin-like growth factor receptor signaling pathway (PubMed:26692333). Recruits ATPase VCP to lipid droplets and also binds to phospholipase PNPLA2/ATGL, inhibiting PNPLA2 activity by promoting its dissociation from its ABHD5/CGI-58 activator (PubMed:23297223). This inhibits PNPLA2-mediated triacylglycerol hydrolysis and leads to inhibition of lipid droplet degradation (PubMed:23297223). Involved in stress granule disassembly: associates with ubiquitinated G3BP1 in response to heat shock, thereby promoting interaction between ubiquitinated G3BP1 and VCP, followed by G3BP1 extraction from stress granules and stress granule disassembly (PubMed:34739333). {ECO:0000269|PubMed:18711132, ECO:0000269|PubMed:23297223, ECO:0000269|PubMed:24215460, ECO:0000269|PubMed:26692333, ECO:0000269|PubMed:34739333}. This is the function of ENSG00000113194 (FAF2, Fas associated factor family member 2).