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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                    11,                    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 November 14, 2006 and is hereby incorporated                    by                    reference into this report on Form 10-K) |
| 4.1                                   | 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 master servicer, and LaSalle Bank National Association,                    as                    trustee (As previously filed on Form 8-K filed on November 14,                    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, LandAmerica Tax and Flood Services, Inc., as servicing                    function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 33(d)                                 | 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, LandAmerica Tax and Flood Services,                    Inc., as                    servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 34(d)                                 | 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.                                                                                                                                                                                   | LandAmerica                        Tax and Flood Services, Inc., as servicing function                        participant |   |
| 4.                                                                                                                                                                                   | 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.                                                                                                                                                                                   | LandAmerica                        Tax and Flood Services, Inc., as servicing function                        participant |
| 4.                                                                                                                                                                                   | 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 October 11,                          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 November 14, 2006 and is hereby incorporated                          by                          reference into this report on Form 10-K) |
| 4.1                                         | 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 master servicer, and LaSalle Bank National                          Association, as                          trustee (As previously filed on Form 8-K filed on November                          14, 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, LandAmerica Tax and Flood Services, Inc., as                          servicing                          function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 33(d)                                       | 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, LandAmerica Tax and Flood Services,                          Inc., as                          servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 34(d)                                       | 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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