UNITED STATES
                             SECURITIES AND EXCHANGE COMMISSION
                                   WASHINGTON, D.C. 20549



                                        FORM 10-K/A
                                    Amendment No. 2 to



  (Mark one)

  /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
      EXCHANGE ACT OF 1934


       Commission file number:  333-125422-42

       Bear Stearns Asset Backed Securities I Trust 2006-AC1
       (exact name of issuing entity as specified in its charter)

       Bear Stearns Asset Backed Securities I LLC.
       (exact name of the depositor as specified in its charter)

       EMC Mortgage Corporation
       (exact name of the sponsor as specified in its charter)


  New York                                          54-2193466
  (State or other jurisdiction of                   54-2193467
  incorporation or organization)                    54-2193468
                                                    (I.R.S. Employer
                                                    Identification No.)


   c/o Wells Fargo Bank, N.A.
   9062 Old Annapolis Road
   Columbia, MD                                21045
  (Address of principal executive offices)    (Zip Code)


  Registrant's telephone number, including area code: (410) 884-2000


  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.

        Yes  ___     No  X


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

        Yes  ___     No  X


  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.

        Yes  X       No  ___


  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.

        Not applicable.


  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 filer ___  Accelerated filer ___  Non-accelerated filer X


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

        Yes  ___     No  X


  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

  List hereunder the following documents if incorporated by reference and
  the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the
  document is incorporated: (1)Any annual report to security holders; (2)
  Any proxy or information statement; and (3)Any prospectus filed pursuant
  to Rule 424(b) or (c) under the Securities Act of 1933. The listed
  documents should be clearly described for identification purposes (e.g.,
  annual report to security holders for fiscal year ended December 24, 1980).

          See Item 15 (Part IV).


                      EXPLANATORY NOTE

This Amendment No. 2 to the Annual Report on Form 10-K filed with the Securities
and Exchange Commission on April 2, 2007 (Accession No. 0001056404-07-001583)
and the amended Form 10K filed April 19, 2007 (Accession No.
0001056404-07-001799) by Bear Stearns Asset Backed Securities I Trust 2006-AC1
(the "Initial 10-K"), for the fiscal year ended December 31, 2006, is being
filed for the sole purpose of restating the assessment of American Security
Insurance Company, Standard Guaranty Insurance Company and TrackSure Insurance
Agency, Inc. (the "Asserting Party") for the reporting period of January 1, 2006
through December 31, 2006. The restated assessment, provided to the registrant
in February 2008, identifies a material instance of noncompliance with the
servicing criteria set forth in Item 1122(d)(4)(xii) under Regulation AB.
Specifically, the Asserting Party did not have, during the applicable reporting
period, sufficient policies and procedures to capture the information with
respect to the Platform Transactions necessary to determine compliance with Item
1122(d)(4)(xii). In response to a Securities and Exchange Commission comment, as
of January 1, 2008, the Asserting Party has implemented practices and procedures
to capture the information necessary to assess compliance with Item 1122(d)(4)
(xii).




                                   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 Registrants 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 Operations.

            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
           Independence.

            Omitted.


  Item 14. Principal Accounting Fees and Services.

            Omitted.



                ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB

  Item 1112(b) of Regulation AB, Significant Obligor Financial Information.

            No single obligor represents more than 10% of the pool assets held
            by this transaction.


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


           The consolidated audited financial statements of Financial Guaranty
           Insurance Company and subsidiaries, as of December 31, 2006 and 2005,
           and for each of the years in the three-year period ended December 31,
           2006 are being attached hereto as an exhibit to this 10-K.


  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.


            On February 9, 2007, Bear Stearns Residential Mortgage Corporation,
            a wholly owned subsidiary of The Bear Stearns Companies Inc. and an
            affiliate of the Registrant, acquired certain assets used in the
            subprime wholesale mortgage banking division of Performance Credit
            Corporation (formerly known as Encore Credit Corp.) ("PCC"), a
            California corporation that, until February 9, 2007, originated and
            purchased one-to four-family residential mortgage loans offered to
            borrowers with a particular emphasis on "nonconforming" borrowers
            who generally do not satisfy the credit, collateral, documentation
            or other standards required by conventional mortgage lenders and
            loan buyers.


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


This report on Form 10-K omits the Item 1122 assessment of compliance and
attestation report required by Regulation AB for Waterfield Mortgage Company
Incorporated ("Waterfield"), a subservicer for EMC Mortgage Corporation ("EMC")
for approximately 5.68% (as calculated in accordance with Regulation AB
Telephone Interpretation 17.02) of the pool assets in the Bear Stearns Asset
Backed Securities I Trust 2006-AC1, Asset-Backed Certificates, Series 2006-AC1
transaction ("BSABS 2006-AC1"), issued on January 31, 2006. Waterfield
effectively ceased to operate as ongoing concern on October 16, 2006.
Waterfield's portion of the servicing in the BSABS 2006-AC1 transaction
transferred to Wells Fargo on April 1, 2006, pursuant to an agreement between
EMC and Wells Fargo Bank, N.A. ("Wells Fargo"). Waterfield executed an
agreement, dated January 31, 2006 with EMC under which Waterfield is
contractually obligated to provide the assessment of compliance and attestation
for the period of time prior to the servicing transfer. Waterfield did not
deliver the required assessment of compliance and attestation report, and the
Registrant has not been successful in obtaining them through any other steps
reasonably available to it without unreasonable effort or expense. The following
is a time line of the steps taken by the Registrant to obtain the Waterfield
assessment and attestation:

01/09/2007      - Call with Registrant's counsel to discuss missing Waterfield
                assessment; Reviewed side letter agreement regarding provision
                of Item 1122 information by Waterfield.
01/11/2007      - Call with a representative of American Home Mortgage Corp., a
                purchaser of some of Waterfield's assets. The representative
                said Waterfield had been sold in pieces and that American Home
                had only bought mortgage loans - not servicing - from
                Waterfield. Sky Bank acquired the banking business of Waterfield
                and, as far as the representative knew, all servicing was
                transferred with respect to Waterfield loans.
01/16/2007      - Call to a representative of Sky Bank who was formerly with
                Union Federal's banking division, which became a part of Sky
                Bank, but learned he is no longer with company.
01/16/2007 -    Call to another representative of Sky Bank and the Registrant
                was referred to a third person at Sky Bank.
01/19/2007 -    01/22/2007 - Multiple calls to the representative indicated on
                the 1/16/2007 call with Sky Bank that were not returned;
                received word from a representative of Wells Fargo, the
                Registrant's Master Servicer, that he too was leaving messages
                but had not heard back from Sky Bank.
01/23/2007      - Another representative of Wells Fargo heard from Sky Bank.
                According to Sky Bank's representative, Sky Financial bought
                everything from Waterfield except the mortgage loan operation,
                which was purchased by American Home, but she agreed to follow
                up with another former employee of Waterfield Mortgage to ask
                about the 2006 Attestations.
01/29/2007      - Wells Fargo attempted follow up with Sky Bank but learned the
                contact they had been given was out of the office until
                01/31/2007.
02/14/2007 -    Call to the former Waterfield employee identified on the
                1/23/2007 call with Sky Bank; left a message.
02/15/2007 -    Call with the former Waterfield employee identified on the
                1/23/2007 call with Sky Bank.  The former Waterfield employee
                said that he had checked with all the former "Waterfielders" he
                could reach and that they all had the same recollection: Wells
                Fargo was to give the attestation without relying on anything
                from Waterfield. No steps were ever taken to deliver an
                attestation as required by the agreement dated January 31, 2006.
02/16/2007      - Call with Registrant's contact at Wells Fargo regarding the
                2/15/2007 conversation with the former Waterfield employee.
                Registrant was told that Wells Fargo would not have agreed to
                provide an attestation for work it had not performed and did not
                at any time indicate or agree that an attestation from
                Waterfield was not required; indeed, that was one reason why
                Wells Fargo had pushed for the agreement dated January 31, 2006
                in the first place. Registrant was then provided with another
                contact that was formerly at Waterfield.
02/19/2007      - Call with Wells Fargo's contact person from Waterfield, who
                confirmed what the American Home representative had said in her
                conversation with Registrant.
On 2/19/2007, Registrant consulted with outside counsel about next steps.


The restated assessment of American Security Insurance Company,
Standard Guaranty Insurance Company and TrackSure Insurance Agency,
Inc. (the "Asserting Party") for the reporting period of January 1,
2006 through December 31, 2006, provided to the registrant in
February 2008, identifies a material instance of noncompliance with
the servicing criteria set forth in Item 1122(d)(4)(xii) under
Regulation AB. Specifically, the Asserting Party did not have,
during the applicable reporting period, sufficient policies and
procedures to capture the information with respect to the Platform
Transactions necessary to determine compliance with Item 1122(d)(4)
(xii). In response to a Securities and Exchange Commission comment,
as of January 1, 2008, the Asserting Party has implemented practices
and procedures to capture the information necessary to assess
compliance with Item 1122(d)(4)(xii).


The 1122 statements for Wells Fargo Bank, N.A. (servicer) has
disclosed the following instances of material noncompliance with
certain servicing criteria applicable to the Company during the year
ended December 31, 2006:

1. 1122(d)(3)(i) - Delinquency Reporting - The Company provided
   incomplete data to some third parties who use such data to
   calculate delinquency ratios and determine the status of loans
   with respect to bankruptcy, foreclosure or real estate owned.
   Instead of the actual due date being provided for use in
   calculating delinquencies, the date of the first payment due to
   the security was provided.

2. 1122(d)(4)(vii) - Notification of Intent to Foreclose - The
   Company, as required by certain servicing agreements, did not
   provide investors with prior notification of intent to foreclose.


  Item 1123 of Regulation AB, Servicer Compliance Statement.


            The servicer compliance statements have been completed within the
            manner stated in the governing documents and are attached hereto
            under Item 15.



                                PART IV


  Item 15. Exhibits, Financial Statement Schedules.

    (a) Exhibits

(4.1)Pooling and Servicing Agreement, dated as of January 1, 2006, among Bear
     Stearns Asset Backed Securities I LLC, a Delaware limited liability
     company, as depositor, EMC Mortgage Corporation, a Delaware corporation, as
     seller and as company, Wells Fargo Bank, National Association, a national
     banking association, as master servicer and securities administrator and
     U.S. Bank National Association, as trustee (As previously filed on Form 8-K
     filed on February 15, 2006 and is hereby incorporated by reference into
     this report on Form 10-K)


(4.2)Amended and Restated Pooling and Servicing Agreement, dated as of July 24,
     2006, among Bear Stearns Asset Backed Securities I LLC, a Delaware limited
     liability company, as depositor, EMC Mortgage Corporation, a Delaware
     corporation, as sponsor and as company, Wells Fargo Bank, National
     Association, a national banking association, as master servicer and
     securities administrator and U.S. Bank National Association, as trustee (As
     previously filed on Form 8-K filed on November 6, 2006 and is hereby
     incorporated by reference into this report on Form 10-K)


(10.1)Terms Agreement dated as of January 31, 2006 to the Underwriting
      Agreement, dated as of January 10, 2006 between Bear, Stearns & Co.,
      Inc. and Bear Stearns Asset Backed Securities I LLC (As previously
      filed on Form 8-K filed on March 3, 2006 and is hereby incorporated by
      reference into this report on Form 10-K)

(10.2)Purchase, Warranties and Servicing Agreement, dated as of April 1, 2005
      and is executed between EMC MORTGAGE CORPORATION, as Purchaser
      (the "Purchaser"), and Savannah Bank, NA dba Harbourside Mortgage
      Corporation, (the "Company")

(10.3)Amendment  No. 1 is made and entered  into  January 1, 2006,  by and
      between  EMC  Mortgage  Corporation,  a Delaware  corporation,  as
      purchaser (the "Purchaser") and Savannah Bank, NA dba Harbourside Mortgage
      Corporation,  as company (the "Company") in connection with the Purchase,
      Warranties and Servicing Agreement, dated as of April 1, 2005, between the
      above mentioned parties (the "Agreement")

(10.4)Purchase,  Warranties  and Servicing  Agreement,  dated as of September 1,
      2003 and is executed  between EMC Mortgage  Corporation,  as Purchaser,
     (the "Purchaser"), and GreenPoint Mortgage Funding, Inc.., (the "Company")

(10.5)Amended and Restated  Purchase,  Warranties  and  Servicing  Agreement,
      dated as of  September 1, 2005,  which amends and restates the Purchase,
      Warranties and Servicing Agreement,  originally dated May 1, 2002, each
      between EMC MORTGAGE CORPORATION, as Purchaser, (the "Purchaser") and HSBC
      Mortgage Corporation (USA), (the "Company")

(10.6)Amendment  Reg AB,  dated as of  November  7, 2005,  by and  between  EMC
      Mortgage  Corporation  (the "Purchaser"),  and HSBC  Mortgage Corporation
      (USA) (the  "Company") to that certain  Amended and Restated  Purchase,
      Warranties and Servicing  Agreement,  dated as of September 1, 2005 by and
      between the Company and the Purchaser.

(10.7)Purchase,  Warranties  and  Servicing  Agreement,  dated as of October
      23, 2001 and is executed  between EMC MORTGAGE  CORPORATION,  as
      Purchaser (the  "Purchaser"),  and Cendant  Mortgage  Corporation
      ("Cendant  Mortgage") and Bishop's Gate  Residential  Mortgage Trust
      (formerly known as Cendant  Residential  Mortgage Trust) (the "Trust,"
      together with Cendant Mortgage,  the "Company" and individually, each
      a "Company"), as the Company.

(10.8)Assignment,  Assumption and Recognition  Agreement made as of January 31,
      2006, among EMC Mortgage  Corporation (the "Assignor"),  U.S. Bank
      National  Association,  not individually but solely as trustee for the
      holders of the Bear Stearns Asset Backed Securities I Trust 2006-AC1,
      Asset Backed Certificates, Series 2006-AC1 (the "Assignee") and GreenPoint
      Mortgage Funding, Inc. (the "Company")

(10.9)Assignment,  Assumption and Recognition  Agreement made as of January 31,
      2006, among EMC Mortgage  Corporation (the "Assignor"),  U.S.
      Bank National  Association,  not individually but solely as trustee for
      the holders of the Bear Stearns Asset Backed Securities I Trust 2006-AC1,
      Asset-Backed Certificates, Series 2006-AC1 (the "Assignee") and HSBC
      Mortgage Corporation (USA) (the "Company").

(10.10)Assignment,  Assumption and Recognition  Agreement,  dated as of January
       31, 2006, by EMC Mortgage Corporation,  a Delaware corporation
       (the "Assignor"),  U.S. Bank National Association,  not individually but
       solely as trustee for the holders of Bear Stearns Asset Backed
       Securities I Trust 2006-AC1, Asset-Backed Certificates, Series 2006-AC1
       (the "Assignee") and Wells Fargo Bank, N.A. (the "Company")

(10.11)Assignment,  Assumption and Recognition  Agreement made as of January 31,
       2006, among EMC Mortgage  Corporation (the "Assignor"),  U.S.
       Bank National  Association,  not  individually  but solely as trustee for
       the holders of Bear Stearns  Asset Backed  Securities I Trust
       2006-AC1,  Asset-Backed Certificates,  Series 2006-AC1 (the "Assignee")
       and Savannah Bank, NA dba Harbourside Mortgage Corporation
       (the "Company")

(10.12)Assignment,  Assumption  and  Recognition  Agreement is made and entered
       into as of January 31,  2006,  among EMC Mortgage  Corporation
       (the "Assignor"),  U.S. Bank National Association,  not individually but
       solely as trustee for the holders of Bear Stearns Asset Backed
       Securities I Trust 2006-AC1,  Asset-Backed Certificates,  Series 2006-AC1
       (the "Assignee"), PHH Mortgage Corporation (formerly known as
       Cendant Mortgage Corporation) ("PHH"), and Bishop's Gate Residential
       Mortgage Trust ("Bishop's Gate")."


    (31) Rule 13a-14(d)/15d-14(d) Certifications.

    (33) Reports on assessment of compliance with servicing criteria for
         asset-backed securities.


      <TABLE>

      
         <c>
      a) Restated report on assessment of compliance with servicing criteria for Assurant Inc. as Sub-Contractor for EMC Mortgage
         Corporation  <F2>
      b) Restated report on assessment of compliance with servicing criteria for Assurant Inc. as Sub-Contractor for GreenPoint
         Mortgage Funding, Inc.  <F3>
      c) EMC Mortgage Corporation, as Servicer <F1>
      d) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for HSBC Mortgage Corporation, USA  <F3>
      e) GreenPoint Mortgage Funding, Inc., as Servicer <F3>
      f) Harborside Mortgage Corporation, as Servicer <F3>
      g) HSBC Mortgage Corporation, USA, as Servicer <F3>
      h) Impac Funding Corporation, as Servicer <F3>
      i) LandAmerica Tax and Flood Services as Sub-Contractor for EMC Mortgage Corporation  <F1>
      j) LandAmerica Tax and Flood Services as Sub-Contractor for GreenPoint Mortgage Funding, Inc. <F3>
      k) PHH Mortgage Corporation, as Servicer <F3>
      l) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A.  <F1>
      m) Wells Fargo Bank, N.A., as Servicer <F1>
      n) Wells Fargo Bank, N.A., as Master Servicer <F1>
      o) Wells Fargo Bank, N.A., as Securities Administrator <F1>
      p) Wells Fargo Bank, N.A., as Custodian <F1>
      q) ZC Sterling Insurance Agency, Inc. as Sub-Contractor for Wells Fargo Bank, N.A.  <F1>

      </TABLE>

     (34) Attestation reports on assessment of compliance with servicing
          criteria for asset-backed securities.

      <TABLE>

      
        <c>
      a) Restated report on assessment of compliance with servicing criteria for Assurant Inc. as Sub-Contractor for EMC Mortgage
         Corporation  <F2>
      b) Restated report on assessment of compliance with servicing criteria for Assurant Inc. as Sub-Contractor for GreenPoint
         Mortgage Funding, Inc.  <F3>
      c) EMC Mortgage Corporation, as Servicer <F1>
      d) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for HSBC Mortgage Corporation, USA  <F3>
      e) GreenPoint Mortgage Funding, Inc., as Servicer <F3>
      f) Harborside Mortgage Corporation, as Servicer <F3>
      g) HSBC Mortgage Corporation, USA, as Servicer <F3>
      h) Impac Funding Corporation, as Servicer <F3>
      i) LandAmerica Tax and Flood Services as Sub-Contractor for EMC Mortgage Corporation  <F1>
      j) LandAmerica Tax and Flood Services as Sub-Contractor for GreenPoint Mortgage Funding, Inc. <F3>
      k) PHH Mortgage Corporation, as Servicer <F3>
      l) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A.  <F1>
      m) Wells Fargo Bank, N.A., as Servicer <F1>
      n) Wells Fargo Bank, N.A., as Master Servicer <F1>
      o) Wells Fargo Bank, N.A., as Securities Administrator <F1>
      p) Wells Fargo Bank, N.A., as Custodian <F1>
      q) ZC Sterling Insurance Agency, Inc. as Sub-Contractor for Wells Fargo Bank, N.A.  <F1>

      </TABLE>

     (35) Servicer compliance statement.

      <TABLE>

      
         <c>
      a) Assurant Inc. as Sub-Contractor for EMC Mortgage Corporation  <F5>
      b) Assurant Inc. as Sub-Contractor for GreenPoint Mortgage Funding, Inc.  <F5>
      c) EMC Mortgage Corporation, as Servicer <F1>
      d) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for HSBC Mortgage Corporation, USA  <F5>
      e) GreenPoint Mortgage Funding, Inc., as Servicer <F4>
      f) Harborside Mortgage Corporation, as Servicer <F4>
      g) HSBC Mortgage Corporation, USA, as Servicer <F4>
      h) Impac Funding Corporation, as Servicer <F4>
      i) LandAmerica Tax and Flood Services as Sub-Contractor for EMC Mortgage Corporation  <F5>
      j) LandAmerica Tax and Flood Services as Sub-Contractor for GreenPoint Mortgage Funding, Inc.  <F5>
      k) PHH Mortgage Corporation, as Servicer <F4>
      l) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A.  <F5>
      m) Wells Fargo Bank, N.A., as Servicer <F1>
      n) Wells Fargo Bank, N.A., as Master Servicer <F1>
      o) Wells Fargo Bank, N.A., as Securities Administrator <F1>
      p) Wells Fargo Bank, N.A., as Custodian <F5>
      q) ZC Sterling Insurance Agency, Inc. as Sub-Contractor for Wells Fargo Bank, N.A.  <F5>


 EX. 99.1   Financial Guaranty Insurance Company and Subsidiaries


      </TABLE>

   (b) Not applicable.

   (c) Omitted.



  <F1> Filed with the Inital 10-K.

  <F2> Filed with this report.

  <F3> The Servicing Participant serviced less than 5% of the deal and is
       not required under Regulation AB to provide such documentation.

  <F4> The Servicing Participant serviced less than 10% of the deal and is
       not required under Regulation AB to provide such documentation.

  <F5> The Servicing Participant of the deal is not required under Regulation
       AB to provide such documentation.



                                SIGNATURES

  Pursuant to the requirements of Section 13 or 15(d) of the Securities
  Exchange Act of 1934, the registrant has duly caused this report to be
  signed on its behalf by the undersigned, thereunto duly authorized.



    Bear Stearns Asset Backed Securities I Trust 2006-AC1
    (Issuing Entity)

    Wells Fargo Bank, N.A.
    (Master Servicer)

    /s/ Dawn Hammond
    Dawn Hammond, Vice President
    (senior officer in charge of the servicing function of the master
     servicer)

    Date: July 10, 2008


   Exhibit Index

   Exhibit No.

    (31) Rule 13a-14(d)/15d-14(d) Certifications.

    (33) Reports on assessment of compliance with servicing criteria for
         asset-backed securities.

      <TABLE>

      
         <c>
      a) Restated report on assessment of compliance with servicing criteria for Assurant Inc. as Sub-Contractor for EMC Mortgage
         Corporation  <F2>



      </TABLE>


     (34) Attestation reports on assessment of compliance with servicing
          criteria for asset-backed securities.


      <TABLE>


      
        <c>
      a) Restated report on assessment of compliance with servicing criteria for Assurant Inc. as Sub-Contractor for EMC Mortgage
         Corporation  <F2>

      </TABLE>