Ford has issues with sticking calipers. The brakes won't release. Mine has been in the shop twice for this issue.
Another issue can be moisture in the brake lines. It turns to steam when you're using the brakes in stop and go traffic. I upgraded to DOT 4 brake fluid in my last Ford because it was doing this. It started when I was coming down the Smoky Mountains into Gatlinburg and the traffic was backed up.
You'll need to figure out where the smoke is coming from to isolate the problem. A temperature gun is a great help in finding problems like this. It could be a wheel bearing or a brake issue.
