**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**





For
      the
      fiscal year ended December 31, 2006


or





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





For
      the
      transition period from ________to _______





Commission
      file number of issuing entity: 333-130545-38


MERRILL
          LYNCH MORTGAGE INVESTORS TRUST, SERIES 2006-FF1
 (Exact
          name of issuing entity as specified in its charter)




Commission
      file number of depositor: 333-130545




Merrill
        Lynch Mortgage Investors, Inc.
 (Exact
          name of registrant/depositor as specified in its charter)


Merrill
      Lynch Mortgage Lending Inc.


(Exact
        name of sponsor as specified in its charter)


Delaware
            
            13-3416059(State
                or other jurisdiction of
              incorporation
                or organization)
            
            (I.R.S.
                Employer
              Identification
                No.)





250
        Vesey Street, 4 World Financial Center, 10th Floor, New York, NY
        10080
 (Address of principal
          executive offices)
 212-449-0357


(Registrant's
          telephone number, including area code)
 Securities
          registered pursuant to Section 12(b) of the Act:




None




Securities
      registered pursuant to Section 12(g) of the Act:




None




Indicate
      by check mark if the registrant is a well-known seasoned issuer, as defined
      in
      Rule 405 of the Securities Act.





oYes
            
            xNo





Indicate
      by check mark if the registrant is not required to file pursuant to Section
      13
      or Section 15(d) of the Act.





oYes
            
            xNo





Indicate
      by check mark whether the registrant (1) has filed all reports required to
      be
      filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
      the
      preceding 12 months (or for such shorter period that the registrant was required
      to file such reports), and (2) has been subject to such filing requirements
      for
      the past 90 days.





xYes
            
            oNo





Indicate
      by check mark if disclosure of delinquent filers pursuant to Item 405 of
      Regulation S K (§229.405
      of this
      chapter) is not contained herein, and will not be contained, to the best of
      registrant’s knowledge, in definitive proxy or information statements
      incorporated by reference in Part III of this Form 10-K or any amendment to
      this
      Form 10-K.





x





Indicate
      by check mark whether the registrant is a large accelerated filer, an
      accelerated filer, or a non-accelerated filer. See definition of “accelerated
      filer and large accelerated filer” in Rule 12b-2 of the Exchange Act (Check
      one):




Large
                accelerated filero
            Accelerated
                filero
            Non-accelerated
                filer x




Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Act).   oYes  xNo




State
      the
      aggregate market value of the voting and non voting common equity held by
      non-affiliates computed by reference to the price at which the common equity
      was
      last sold, or the average bid and asked price of such common equity, as of
      the
      last business day of the registrant’s most recently completed second fiscal
      quarter.





Not
      Applicable




**DOCUMENTS
      INCORPORATED BY REFERENCE**




None




**PART
        I**
  Item
        1.
        Business.
 Omitted.
 
 **Item
        1A. Risk Factors.**
 Omitted.
 
 **Item
        1B. Unresolved Staff Comments.**
 None.
 
 **Item
        2. Properties.**
 Omitted.
 
 **Item
        3. Legal Proceedings.**
 Omitted.
  **Item
        4. Submission of Matters to a Vote of Security Holders.**
 Omitted.
 
 
 **PART
        II**
 
 **Item
        5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer
        Purchases of Equity Securities.**
 Omitted.
 
 **Item
        6. Selected Financial Data.**
 Omitted.
 
 **Item
        7. Management’s Discussion and Analysis of Financial Condition and Results of
        Operation.**
 Omitted.
 
 **Item
        7A. Quantitative and Qualitative Disclosures About Market
        Risk.**
 Omitted.
 
 **Item
        8. Financial Statements and Supplementary Data.**
 Omitted.
 
 **Item
        9. Changes in and Disagreements With Accountants on Accounting and Financial
        Disclosure.**
 Omitted.
 
 **Item
        9A. Controls and Procedures.**
 Omitted.
  **Item
          9A(T). Controls and Procedures.**
 Omitted.
  **Item
        9B. Other Information.**
 None.
 
 **PART
        III**
 
 **Item
          10. Directors, Executive Officers and Corporate
          Governance.**
 Omitted.
 
 **Item
        11. Executive Compensation.**
 Omitted.
 
 **Item
        12. Security Ownership of Certain Beneficial Owners and Management and Related
        Stockholder Matters.**
 Omitted.
 
 **Item
          13.** **Certain
          Relationships and Related Transactions, and Director Independences.**
 Omitted.
 
 **Item
        14. Principal Accounting Fees and Services.**
 Omitted.
 
  **Item
          1112(b) of Regulation AB. Significant Obligors Financial
          Information.**
 Not
          Applicable.
 
 **Item
          1114(b)(2) and 1115(b) of Regulation AB. Significant Enhancement Provider
          Financial Information.**
 Not
          Applicable.
 
 **Item
          1117 of Regulation AB. Legal Proceedings.**
 The
          registrant knows of no material pending legal proceedings involving the
          Trust
          and all parties related to such Trust, other than routine litigation incidental
          to the duties of those respective parties.
 
 **Item
          1119 of Regulation AB. Affiliations and Certain Relationships and Related
          Transactions.**
 Merrill
            Lynch Mortgage Investors, Inc., Merrill Lynch Mortgage Lending, Inc.,
            Merrill
            Lynch Pierce, Fenner & Smith Incorporated and First Franklin Financial are
            all affiliates. The affiliations between the Merrill Lynch entities have
            been
            provided previously in a prospectus timely filed pursuant to Rule 424
            promulgated under the Securities Act of 1933, under the same Central
            Index Key
            (CIK) code as this annual report on Form 10-K. No material changes to
            such
            information have occurred since the initial Rule 424 filing.
  Merrill
            Lynch Bank & Trust Co., FSB acquired First Franklin Financial, Home Loan
            Services, Inc., and the affiliated business unit NationPoint on December
            30,
            2006. Simultaneously with the closing of such acquisition, the non-conforming
            mortgage loan origination business formerly maintained in its First Franklin
            division was transferred by National City Bank to First Franklin Financial.
            Therefore, as of such date, the non-conforming mortgage loan origination
            business of First Franklin and First Franklin Financial was acquired
            by Merrill
            Lynch Bank & Trust Co., FSB.
 **Item
          1122 of Regulation AB. Compliance with Applicable Servicing
          Criteria.**
 The
              assessment of compliance of Home Loan Services, Inc. (“HLS”) has disclosed
              instances of material noncompliance with respect to criteria 1122(d)(1)(i),
              1122(d)(4)(x)(A) and 1122(d)(4)(x)(C). As such assessment states, (i)
              HLS had
              not instituted policies to monitor performance or other triggers in
              accordance
              with the transaction agreements, although daily delinquency and status
              pool
              reports exist but were not utilized to calculate the triggers; (ii)
              of a sample
              of 60 loans with escrow accounts, 5 such accounts were not analyzed
              within a 12
              month period; and (iii) of a sample of 60 loans with escrow accounts,
              some
              escrow funds were not returned within 30 days after payoff for 2 loans.
  The
              assessment of compliance of First American Real Estate Solutions of
              Texas, L.P.
              (“First American”) has disclosed an instance of material noncompliance with
              criterion 1122(d)(2)(vii)(B). First American did not prepare reconciliations
              for
              all asset-backed securities related bank accounts within 30 calendar
              days after
              the bank statement cut-off date or such number of days specified in
              the
              transaction agreements.
  See
          Item
          15, exhibits (33) and (34).
 
 **Item
          1123 of Regulation AB. Servicer Compliance Statement.**
 See
          Item
          15, exhibit (35).
 
 **PART
        IV**
 
 **Item
        15. Exhibits, Financial Statement Schedules.**
 
 (a)
        The
        following is a list of documents filed as part of this Annual Report on Form
        10-K:
 (1)
        Not
        Applicable
 (2)
        Not
        Applicable
 (3)


**Exhibit
                  Number**
              **Description**4.1
              Pooling
                  and Servicing Agreement (filed as an exhibit to Form 8-K on
                  2007-01-11)10.1
              Mortgage
                  Purchase Agreement (filed as an exhibit to Form 8-Kon
                  2007-01-11)31
              Sarbanes-Oxley
                  Certification33(a)
              Report
                  on assessment of compliance with servicing criteria for asset-backed
                  securities,  Home Loan Services, Inc. formerly known as National City
                  Home Loan Services, Inc., as Servicer33(b)
              Report
                  on assessment of compliance with servicing criteria for asset-backed
                  securities, LaSalle Bank National Association, as
                  Trustee33(c)
              Report
                  on assessment of compliance with servicing criteria for asset-backed
                  securities, Assurant Specialty Properties, as Servicing Function
                  Participant33(d)
              Report
                  on assessment of compliance with servicing criteria for asset-backed
                  securities, First American R.E. Tax Service, as Servicing Function
                  Participant34(a)
              Attestation
                  report on assessment of compliance with servicing criteria for
                  asset-backed securities, Home Loan Services, Inc. formerly known
                  as
                  National Home Loan Services, Inc., as Servicer34(b)
              Attestation
                  report on assessment of compliance with servicing criteria for
                  asset-backed securities, LaSalle Bank National Association, as
                  Trustee34(c)
              Attestation
                  report on assessment of compliance with servicing criteria for
                  asset-backed securities, Assurant Specialty Properties, as Servicing
                  Function Participant34(d)
              Attestation
                  report on assessment of compliance with servicing criteria for
                  asset-backed securities, First American R.E. Tax Service, as Servicing
                  Function Participant35(a)
              Servicer
                  Compliance Statement, Home Loan Services, Inc. formerly known as
                  National
                  City Home Loan Services, Inc., as Servicer35(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:
 Home
                  Loan Services, Inc. formerly known as National City Home Loan Services,
                  Inc., as ServicerLaSalle
                  Bank National Association, as TrusteeAssurant Specialty Properties, as Servicing Function
                  ParticipantFirst American R.E. Tax Service, as Servicing Function
                  Participant
 
 (34)
        Attestation reports on assessment of compliance with servicing criteria for
        asset-backed securities:
 Home
                  Loan Services, Inc. formerly known as National City Home Loan Services,
                  Inc., as ServicerLaSalle
                  Bank National Association, as TrusteeAssurant Specialty Properties, as Servicing Function
                  ParticipantFirst American R.E. Tax Service, as Servicing Function
                  Participant
  (35)
        Servicer Compliance Statements:
 Home
                  Loan Services, Inc. formerly known as National City Home Loan Services,
                  Inc., as ServicerLaSalle
                  Bank National Association, as
                  Trustee
  (c)
      Not
      Applicable.





**SIGNATURES**




Home
                Loan Services, Inc. formerly known as National City Home Loan Services,
                Inc., as ServicerMarch
                28, 2007
              /s/
                Steven A. BaranetBy: Steven
                A. BaranetTitle: Vice
                President(Senior
                Officer in charge of the servicing function of the
                servicer)





**EXHIBIT
      INDEX**


**Exhibit
                    Number**
                **Description**4.1
                Pooling
                    and Servicing Agreement (filed as an exhibit to Form 8-K on
                    2007-01-11)10.1
                Mortgage
                    Purchase Agreement (filed as an exhibit to Form 8-Kon
                    2007-01-11)31
                Sarbanes-Oxley
                    Certification33(a)
                Report
                    on assessment of compliance with servicing criteria for asset-backed
                    securities,  Home Loan Services, Inc. formerly known as National City
                    Home Loan Services, Inc., as Servicer33(b)
                Report
                    on assessment of compliance with servicing criteria for asset-backed
                    securities, LaSalle Bank National Association, as
                    Trustee33(c)
                Report
                    on assessment of compliance with servicing criteria for asset-backed
                    securities, Assurant Specialty Properties, as Servicing Function
                    Participant33(d)
                Report
                    on assessment of compliance with servicing criteria for asset-backed
                    securities, First American R.E. Tax Service, as Servicing Function
                    Participant34(a)
                Attestation
                    report on assessment of compliance with servicing criteria for
                    asset-backed securities, Home Loan Services, Inc. formerly known
                    as
                    National Home Loan Services, Inc., as Servicer34(b)
                Attestation
                    report on assessment of compliance with servicing criteria for
                    asset-backed securities, LaSalle Bank National Association, as
                    Trustee34(c)
                Attestation
                    report on assessment of compliance with servicing criteria for
                    asset-backed securities, Assurant Specialty Properties, as Servicing
                    Function Participant34(d)
                Attestation
                    report on assessment of compliance with servicing criteria for
                    asset-backed securities, First American R.E. Tax Service, as
                    Servicing
                    Function Participant35(a)
                Servicer
                    Compliance Statement, Home Loan Services, Inc. formerly known
                    as National
                    City Home Loan Services, Inc., as Servicer35(b)
                Servicer
                    Compliance Statement, LaSalle Bank National Association, as
                    Trustee