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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 January 1, 2006, among                      Bear Stearns                      Asset Backed Securities I LLC, as depositor, EMC Mortgage Corporation,                      as                      sponsor 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 17, 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 |
| 3.                                                                                                                                                                             | LandAmerica                      Tax and Flood Services, Inc. |
| 4.                                                                                                                                                                             | Assurant,                      Inc. |
|  (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 |
| 3.                                                                                                                                                                             | LandAmerica                      Tax and Flood Services, Inc. |
| 4.                                                                                                                                                                             | Assurant,                      Inc. |
| (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 January 1, 2006, among                          Bear Stearns                          Asset Backed Securities I LLC, as depositor, EMC Mortgage                          Corporation, as                          sponsor 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 17, 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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