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**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      10-K**

**[X]      ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT      OF      1934**

**[        ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND      EXCHANGE ACT OF 1934**

|   | Delaware                                                                                    |   | 20-0842986                                                         |   |
|--------|---------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|--------|
|   | (State                or other jurisdiction ofincorporation                or organization) |   | (I.R.S.                Employer Identification                No.) |   |

|   | o                Yes |   | x No |
|--------|----------------------|--------|-----------|

|   | o                Yes |   | x                No |
|--------|----------------------|--------|---------------------|

|   | x                Yes |   | o                No |
|--------|----------------------|--------|---------------------|

| Large                accelerated filer o | Accelerated                filer o |  Non-accelerated                filer x |
|------------------------------------------|------------------------------------|----------------------------------------------|

**DOCUMENTS        INCORPORATED BY REFERENCE**

**PART          I**

**Item          1. Business. **

**Item          1A. Risk Factors.**

**Item          1B. Unresolved Staff Comments.**

**Item          2. Properties.**

**Item          3. Legal Proceedings. **

**Item          4. Submission of Matters to a Vote of Security Holders.**

**PART          II**

**Item          5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer          Purchases of Equity Securities.**

**Item          6. Selected Financial Data.**

**Item          7. Management’s Discussion and Analysis of Financial Condition and Results of          Operation.**

**Item          7A. Quantitative and Qualitative Disclosures About Market          Risk.**

**Item          8. Financial Statements and Supplementary Data.**

**Item          9. Changes in and Disagreements With Accountants on Accounting and Financial          Disclosure.**

**Item          9A. Controls and Procedures.**

**Item          9A(T). Controls and Procedures.**

**Item          9B. Other Information.**

**PART          III**

**Item          10. Directors, Executive Officers and Corporate          Governances.**

**Item          11. Executive Compensation.**

**Item          12. Security Ownership of Certain Beneficial Owners and Management and          Related          Stockholder Matters.**

**Item          13. Certain Relationships and Related Transactions, and Director Independences.          **

**Item          14. Principal Accounting Fees and Services.**

**ADDITIONAL          DISCLOSURE ITEMS UNDER REGULATION AB**

**Item        1112(b) of Regulation AB. Significant Obligors Financial        Information.**

**Item        1114(b)(2) and 1115(b) of Regulation AB. Significant Enhancement Provider        Financial Information.**

**Item        1117 of Regulation AB. Legal Proceedings**

**None.**

**Item        1119 of Regulation AB. Affiliations and Certain Relationships and Related        Transactions**

**Item        1122 of Regulation AB. Compliance with Applicable Servicing        Criteria.**

**Item        1123 of Regulation AB. Servicer Compliance Statement**

**              **

**PART        IV**

**Item        15. Exhibits, Financial Statement Schedules.**

| **Exhibit                    Number** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1.1                                   |  The                    Underwriting Agreement, dated April 13, 2006, between Bear, Stearns&                    Co. Inc. as underwriter and Bear Stearns Asset Backed Securities                    I LLC as                    depositor and the related Terms Agreement, dated as of September                    26, 2006,                    between Bear, Stearns & Co. Inc. as underwriter and Bear Stearns Asset                    Backed Securities I LLC as depositor (As previously filed on                    Form 8-K                    filed on December 1, 2006 and is hereby incorporated by reference                    into                    this report on Form 10-K)  |
| 4.1                                   | Pooling                    and Servicing Agreement, dated as of September 1, 2006, among                    Bear Stearns                    Asset Backed Securities I LLC, as depositor, EMC Mortgage Corporation,                    as                    seller and as master servicer, and LaSalle Bank National Association,                    as                    trustee (As previously filed on Form 8-K filed on December 1,                    2006 and is                    hereby incorporated by reference into this report on Form                    10-K)                                                                                                                                    |
| 31                                    | Sarbanes-Oxley                    Certification                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 33(a)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, EMC Mortgage Corporation, as Master                    Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 33(b)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, LaSalle Bank National Association, as Trustee and                    Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 33(c)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, Wells Fargo Bank National Association, as                    Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 33(d)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, LandAmerica Tax and Flood Services, Inc., as servicing                    function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 33(e)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, Assurant, Inc., as servicing function                    participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 34(a)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, EMC Mortgage Corporation, as Master                    Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 34(b)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, LaSalle Bank National Association, as                    Trustee and                    Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 34(c)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, Wells Fargo Bank National Association,                    as                    Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 34(d)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, LandAmerica Tax and Flood Services,                    Inc., as                    servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 34(e)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, Assurant, Inc., as servicing function                    participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 35(a)                                 | Servicer                    compliance statement, EMC Mortgage Corporation, as Master                    Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 35(b)                                 | Servicer                    compliance statement, LaSalle Bank National Association, as                    Trustee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

| (b)                            The exhibits required to be filed by Registrant pursuant                            to Item 601 of                            Regulation S-K:                     |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  (31)                            Rule 13a-14(d)/15d-14(d) Certifications.                                                                                                                   |   |
|  (33)                            Reports on assessment of compliance with servicing criteria                            for                            asset-backed securities:             |   |
|  1.                                                                                                                                                                                         | EMC                            Mortgage Corporation, as Master Servicer |   |
| 2.                                                                                                                                                                                               | LaSalle                            Bank National Association, as Trustee and Custodian |   |
| 3.                                                                                                                                                                                               | Wells                            Fargo Bank, NA, as Custodian |   |
| 4.                                                                                                                                                                                               | LandAmerica                            Tax and Flood Services, Inc., as servicing function                            participant |   |
| 5.                                                                                                                                                                                               | Assurant,                            Inc., as servicing function participant |   |
|  (34)                            Attestation reports on assessment of compliance with                            servicing criteria                            for asset-backed securities: |
| 1.                                                                                                                                                                                               | EMC                            Mortgage Corporation, as Master Servicer |
| 2.                                                                                                                                                                                               | LaSalle                            Bank National Association, as Trustee and Custodian |
| 3.                                                                                                                                                                                               | Wells                            Fargo Bank, NA, as Custodian |
| 4.                                                                                                                                                                                               | LandAmerica                            Tax and Flood Services, Inc., as servicing function                            participant |
| 5.                                                                                                                                                                                               | Assurant,                            Inc., as servicing function participant |
| (35)                            Servicer Compliance Statements:                                                                                                                                  |
| 1.                                                                                                                                                                                               | EMC                            Mortgage Corporation, as Master Servicer |
| 2.                                                                                                                                                                                               | LaSalle                            Bank National Association, as Trustee |

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**SIGNATURES**

|                                    | EMC                    Mortgage Corporation, as Master Servicer |
|-----------------------------------------|-----------------------------------------------------------------|
|                                    |                                                            |
|  March                    28, 2007 |  /s/                    John A. Vella                 |
|                                    | Name:                     John A. Vella                    |
|                                    | Title: President                    and CEO                |

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**EXHIBIT      INDEX **

| **Exhibit                  Number** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|-------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1.1                                 |  The                  Underwriting Agreement, dated April 13, 2006, between Bear, Stearns&                  Co. Inc. as underwriter and Bear Stearns Asset Backed Securities                  I LLC as                  depositor and the related Terms Agreement, dated as of September                  26, 2006,                  between Bear, Stearns & Co. Inc. as underwriter and Bear Stearns Asset                  Backed Securities I LLC as depositor (As previously filed on Form                  8-K                  filed on December 1, 2006 and is hereby incorporated by reference                  into                  this report on Form 10-K)  |
| 4.1                                 | Pooling                  and Servicing Agreement, dated as of September 1, 2006, among Bear                  Stearns                  Asset Backed Securities I LLC, as depositor, EMC Mortgage Corporation,                  as                  seller and as master servicer, and LaSalle Bank National Association,                  as                  trustee (As previously filed on Form 8-K filed on December 1, 2006                  and is                  hereby incorporated by reference into this report on Form                  10-K)                                                                                                                                  |
| 31                                  | Sarbanes-Oxley                  Certification                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 33(a)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, EMC Mortgage Corporation, as Master                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 33(b)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, LaSalle Bank National Association, as Trustee and                  Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 33(c)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, Wells Fargo Bank National Association, as                  Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 33(d)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, LandAmerica Tax and Flood Services, Inc., as servicing                  function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 33(e)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, Assurant, Inc., as servicing function                  participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 34(a)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, EMC Mortgage Corporation, as Master                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 34(b)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, LaSalle Bank National Association, as                  Trustee and                  Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 34(c)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, Wells Fargo Bank National Association,                  as                  Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 34(d)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, LandAmerica Tax and Flood Services, Inc.,                  as                  servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 34(e)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, Assurant, Inc., as servicing function                  participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 35(a)                               | Servicer                  compliance statement, EMC Mortgage Corporation, as Master                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 35(b)                               | Servicer                  compliance statement, LaSalle Bank National Association, as                  Trustee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |

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