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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**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|-------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.1                                       | Pooling                        and Servicing Agreement, dated as of December 1, 2005, among                        Bear Stearns                        Asset Backed Securities I LLC, as depositor, EMC Mortgage                        Corporation, as                        a seller and as master servicer and LaSalle Bank National                        Association, as                        trustee. (As previously filed on Form 8-K filed on February                        15, 2006 and                        on Form 8-K/A filed on March 28, 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**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.1                                               | Pooling                                and Servicing Agreement, dated as of December 1,                                2005, among Bear Stearns                                Asset Backed Securities I LLC, as depositor, EMC                                Mortgage Corporation, as                                a seller and as master servicer and LaSalle Bank                                National Association, as                                trustee. (As previously filed on Form 8-K filed on                                February 15, 2006 and                                on Form 8-K/A filed on March 28, 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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