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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**

**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 October 23,                          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 28, 2006 and is hereby incorporated                          by                          reference into this report on Form 10-K)                         |
| 4.1                                         | The                          Pooling and Servicing Agreement, dated as of October 1,                          2006, among Bear                          Stearns Asset Backed Securities I LLC, as depositor, EMC                          Mortgage                          Corporation, as seller and as company, LaSalle Bank National                          Association,                          as master servicer and as securities administrator, and                          Citibank, N.A., as                          trustee. (As previously filed on Form 8-K filed on December                          28, 2006 and                          Form 8-K/A filed on January 8, 2007 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, LaSalle Bank National Association, as Master                          Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 33(b)                                       | Report                          on assessment of compliance with servicing criteria for                          asset-backed                          securities, EMC Mortgage Corporation, as Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 33(c)                                       | Report                          on assessment of compliance with servicing criteria for                          asset-backed                          securities, LaSalle Bank National Association, as Securities                          Administrator                          and Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 33(d)                                       | Report                          on assessment of compliance with servicing criteria for                          asset-backed                          securities, Wells Fargo Bank, NA, as Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 33(e)                                       | Report                          on assessment of compliance with servicing criteria for                          asset-backed                          securities, GMAC Mortgage, LLC, as servicing function                          participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 33(f)                                       | Report                          on assessment of compliance with servicing criteria for                          asset-backed                          securities, LandAmerica Tax and Flood Services, Inc., as                          servicing                          function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 33(g)                                       | Report                          on assessment of compliance with servicing criteria for                          asset-backed                          securities, Assurant, Inc., as servicing function                          participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 33(h)                                       | Report                          on assessment of compliance with servicing criteria for                          asset-backed                          securities, GMAC Bank, as servicing function                          participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 34(a)                                       | Attestation                          report on assessment of compliance with servicing criteria                          for                          asset-backed securities, LaSalle Bank National Association,                          as Master                          Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 34(b)                                       | Attestation                          report on assessment of compliance with servicing criteria                          for                          asset-backed securities, EMC Mortgage Corporation, as                          Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 34(c)                                       | Attestation                          report on assessment of compliance with servicing criteria                          for                          asset-backed securities, LaSalle Bank National Association,                          as Securities                          Administrator and Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 34(d)                                       | Attestation                          report on assessment of compliance with servicing criteria                          for                          asset-backed securities, Wells Fargo Bank, NA, as                          Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 34(e)                                       | Attestation                          report on assessment of compliance with servicing criteria                          for                          asset-backed securities, GMAC Mortgage, LLC, as servicing                          function                          participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 34(f)                                       | Attestation                          report on assessment of compliance with servicing criteria                          for                          asset-backed securities, LandAmerica Tax and Flood Services,                          Inc., as                          servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 34(g)                                       | Attestation                          report on assessment of compliance with servicing criteria                          for                          asset-backed securities, Assurant, Inc., as servicing function                          participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 34(h)                                       | Attestation                          report on assessment of compliance with servicing criteria                          for                          asset-backed securities, GMAC Bank, as servicing function                          participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 35(a)                                       | Servicer                          compliance statement, LaSalle Bank National Association,                          as Master                          Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 35(b)                                       | Servicer                          compliance statement, EMC Mortgage Corporation, as                          Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 35(c)                                       | Servicer                          compliance statement, LaSalle Bank National Association,                          as Securities                          Administrator                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 35(d)                                       | Servicer                          compliance statement, GMAC Mortgage, LLC, as servicing                          function                          participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

| (b)                        The exhibits required to be filed by Registrant pursuant                        to Item 601 of                        Regulation S-K are listed above and in the Exhibit Index                        that immediately                        follows the signature page hereof. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  (31)                        Rule 13a-14(d)/15d-14(d) Certifications.                                                                                                                                                                                                                                  |   |
|  (33)                        Reports on assessment of compliance with servicing criteria                        for                        asset-backed securities:                                                                                                                                    |   |
|  1.                                                                                                                                                                                                                                                                                                    | LaSalle                        Bank National Association, as Master Servicer |   |
| 2.                                                                                                                                                                                                                                                                                                          | EMC                        Mortgage Corporation, as Company |   |
| 3.                                                                                                                                                                                                                                                                                                          | LaSalle                        Bank National Association, as Securities Administrator and                        Custodian |   |
| 4.                                                                                                                                                                                                                                                                                                          | Wells                        Fargo Bank, NA, as Custodian |   |
| 5.                                                                                                                                                                                                                                                                                                          | GMAC                        Mortgage, LLC, as servicing function participant |   |
| 6.                                                                                                                                                                                                                                                                                                          | LandAmerica                        Tax and Flood Services, Inc., as servicing function                        participant |   |
| 7.                                                                                                                                                                                                                                                                                                          | Assurant,                        Inc., as servicing function participant |   |
| 8.                                                                                                                                                                                                                                                                                                          | GMAC                        Bank, as servicing function participant |   |
|  (34)                        Attestation reports on assessment of compliance with servicing                        criteria                        for asset-backed securities:                                                                                                                        |
| 1.                                                                                                                                                                                                                                                                                                          | LaSalle                        Bank National Association, as Master Servicer |
| 2.                                                                                                                                                                                                                                                                                                          | EMC                        Mortgage Corporation, as Company |
| 3.                                                                                                                                                                                                                                                                                                          | LaSalle                        Bank National Association, as Securities Administrator and                        Custodian |
| 4.                                                                                                                                                                                                                                                                                                          | Wells                        Fargo Bank, NA, as Custodian |
| 5.                                                                                                                                                                                                                                                                                                          | GMAC                        Mortgage, LLC, as servicing function participant |
| 6.                                                                                                                                                                                                                                                                                                          | LandAmerica                        Tax and Flood Services, Inc., as servicing function                        participant |
| 7.                                                                                                                                                                                                                                                                                                          | Assurant,                        Inc., as servicing function participant |
| 8.                                                                                                                                                                                                                                                                                                          | GMAC                        Bank, as servicing function participant |
| (35)                        Servicer Compliance Statements:                                                                                                                                                                                                                                                 |
| 1.                                                                                                                                                                                                                                                                                                          | LaSalle                        Bank National Association, as Master Servicer |
| 2.                                                                                                                                                                                                                                                                                                          | EMC                        Mortgage Corporation, as Company |
| 3.                                                                                                                                                                                                                                                                                                          | LaSalle                        Bank National Association, as Securities                        Administrator |
| 4.                                                                                                                                                                                                                                                                                                          | GMAC                        Mortgage, LLC, as servicing function                        participant |

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**SIGNATURES**

|                                                               | LaSalle                        Bank National Association, as Master Servicer |
|--------------------------------------------------------------------|------------------------------------------------------------------------------|
|                                                               |                                                                         |
|  March                        29,                        2007 | /s/                        Andrew Leszczynski                                |
|                                                               | By: Andrew                        Leszczynski                           |
|                                                               | Title: First                        Vice President                      |

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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 October 23,                                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 28, 2006 and is hereby                                incorporated by                                reference into this report on Form 10-K)                               |
| 4.1                                               | The                                Pooling and Servicing Agreement, dated as of October                                1, 2006, among Bear                                Stearns Asset Backed Securities I LLC, as depositor,                                EMC Mortgage                                Corporation, as seller and as company, LaSalle Bank                                National Association,                                as master servicer and as securities administrator,                                and Citibank, N.A., as                                trustee. (As previously filed on Form 8-K filed on                                December 28, 2006 and                                Form 8-K/A filed on January 8, 2007 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, LaSalle Bank National Association, as                                Master                                Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 33(b)                                             | Report                                on assessment of compliance with servicing criteria                                for asset-backed                                securities, EMC Mortgage Corporation, as Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 33(c)                                             | Report                                on assessment of compliance with servicing criteria                                for asset-backed                                securities, LaSalle Bank National Association, as                                Securities Administrator                                and Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 33(d)                                             | Report                                on assessment of compliance with servicing criteria                                for asset-backed                                securities, Wells Fargo Bank, NA, as Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 33(e)                                             | Report                                on assessment of compliance with servicing criteria                                for asset-backed                                securities, GMAC Mortgage, LLC, as servicing function                                participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 33(f)                                             | Report                                on assessment of compliance with servicing criteria                                for asset-backed                                securities, LandAmerica Tax and Flood Services, Inc.,                                as servicing                                function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 33(g)                                             | Report                                on assessment of compliance with servicing criteria                                for asset-backed                                securities, Assurant, Inc., as servicing function                                participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 33(h)                                             | Report                                on assessment of compliance with servicing criteria                                for asset-backed                                securities, GMAC Bank, as servicing function                                participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 34(a)                                             | Attestation                                report on assessment of compliance with servicing                                criteria for                                asset-backed securities, LaSalle Bank National Association,                                as Master                                Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 34(b)                                             | Attestation                                report on assessment of compliance with servicing                                criteria for                                asset-backed securities, EMC Mortgage Corporation,                                as                                Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 34(c)                                             | Attestation                                report on assessment of compliance with servicing                                criteria for                                asset-backed securities, LaSalle Bank National Association,                                as Securities                                Administrator and Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 34(d)                                             | Attestation                                report on assessment of compliance with servicing                                criteria for                                asset-backed securities, Wells Fargo Bank, NA, as                                Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 34(e)                                             | Attestation                                report on assessment of compliance with servicing                                criteria for                                asset-backed securities, GMAC Mortgage, LLC, as servicing                                function                                participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 34(f)                                             | Attestation                                report on assessment of compliance with servicing                                criteria for                                asset-backed securities, LandAmerica Tax and Flood                                Services, Inc., as                                servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 34(g)                                             | Attestation                                report on assessment of compliance with servicing                                criteria for                                asset-backed securities, Assurant, Inc., as servicing                                function                                participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 34(h)                                             | Attestation                                report on assessment of compliance with servicing                                criteria for                                asset-backed securities, GMAC Bank, as servicing                                function                                participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 35(a)                                             | Servicer                                compliance statement, LaSalle Bank National Association,                                as Master                                Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 35(b)                                             | Servicer                                compliance statement, EMC Mortgage Corporation, as                                Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 35(c)                                             | Servicer                                compliance statement, LaSalle Bank National Association,                                as Securities                                Administrator                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 35(d)                                             | Servicer                                compliance statement, GMAC Mortgage, LLC, as servicing                                function                                participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

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