Attached are two screen shots. The first one shows how currently the album app does not display a link to favorite albums. The second one shows a proposed position for it.
Sure I can view it from the menu item "My photos", however it makes a lot of sense displaying it from the profile. If the profile displayed Favorite albums I could eliminate the "My photos" menu item all together due to being able to see everything from the profile app. Also by displaying favorite albums from the profile it could be viewable to others, thus show casing great albums that user appreciated.