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



                                          FORM 10-K/A


  (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:  333-131594-01

       Wells Fargo Home Equity Asset-Backed Securities 2006-1 Trust
       (exact name of issuing entity as specified in its charter)

       Wells Fargo Asset Securities Corporation
       (exact name of the depositor as specified in its charter)

       Wells Fargo Bank, N.A.
       (exact name of the sponsor as specified in its charter)


  New York                                          54-2196866
  (State or other jurisdiction of                   54-2196880
  incorporation or organization)                    54-2197113
                                                    54-2197114
                                                    54-2197115
                                                    54-6713944
                                                    (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).

        Not applicable.


                                   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 Royal Bank of Scotland plc provides an Interest Rate Swap
        derivative instrument for the trust as disclosed in the 424
        Prospectus. No additional disclosure is required as no
        entity or group of affiliated entities provides derivative
        instruments having an aggregate significance
        percentage of 10% or more.





  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.


            Omitted.

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

          The servicing criteria have been completed within the manner stated
          in the governing documents and are attached hereto under Item 15.

          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.

          The 1122 statements for Wells Fargo Bank, National Association
          (Corporate Trust Services) has disclosed material noncompliance
          with criterion 1122(d)(3)(i), as applicable to the Company during
          the twelve months ended December 31, 2006. Certain monthly
          investor or remittance reports included errors in the calculation
          and/or the reporting of delinquencies for the pool assets.

        The foregoing instances of noncompliance do not relate to any
        activities performed by Wells Fargo Bank, National Association
        in connection with the Issuing Entity.

        Although each applicable servicing criterion required by Item 1122(d) of
        Regulation AB is addressed in one or more of the Assessments of
        Compliance with Servicing Criteria and related Attestation
        Reports included with this report, the Trustee's, HSBC Bank USA
        NA, Assessment of Compliance and related Attestation Report did
        not address the servicing criterion in Item 1122(d)(2)(iii) of
        Regulation AB because the Trustee was not required to make
        advances during the reporting period ended December 31, 2006.



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
        May 30, 2006, incorporated by reference from Exhibit 4.1 of the issuing
        entity's Current Report on Form 8-K filed with the Securities and
        Exchange Commission on June 14, 2006.

        (10.1) Mortgage Loan Purchase Agreement, dated
        May 30, 2006, incorporated by reference from Exhibit 10.1 of the issuing
        entity's Current Report on Form 8-K filed with the Securities and
        Exchange Commission on June 14, 2006.

        (10.2) Interest Rate Swap Agreement, dated May 30, 2006,
        incorporated by reference from Exhibit 10.2 of the issuing entity's
        Current Report on Form 8-K filed with the Securities and Exchange
        Commission on June 14, 2006.

     (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) HSBC Bank USA, National Association, as Trustee <F1>
      b) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A.<F1>
      c) Wells Fargo Bank, N.A., as Servicer <F1>
      d) Wells Fargo Bank, N.A., as Securities Administrator <F1>
      e) Wells Fargo Bank, N.A., as Custodian <F1>
      f) 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) HSBC Bank USA, National Association, as Trustee <F1>
      b) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A.<F1>
      c) Wells Fargo Bank, N.A., as Servicer <F1>
      d) Wells Fargo Bank, N.A., as Securities Administrator <F1>
      e) Wells Fargo Bank, N.A., as Custodian <F1>
      f) ZC Sterling Insurance Agency, Inc. as Sub-Contractor for Wells Fargo Bank, N.A<F1>

      </TABLE>

     (35) Servicer compliance statement.

      <TABLE>

      
         <c>
      a) Wells Fargo Bank, N.A., as Servicer <F1>
      b) Wells Fargo Bank, N.A., as Securities Administrator <F1>


      </TABLE>

   (b) Not applicable.

   (c) Omitted.


  <F1> Filed herewith.




                                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.



    Wells Fargo Home Equity Asset-Backed Securities 2006-1 Trust
    (Issuing Entity)

    Wells Fargo Bank, N.A.
    (Servicer)

    /s/ John Brown
    John Brown,  Senior Vice President
    (senior officer in charge of the servicing function of the servicer)

    Date:      July 19, 2007




  Exhibit Index

  Exhibit No.


     (4.1) Pooling and Servicing Agreement, dated as of May 30, 2006,
           incorporated by reference from Exhibit 4.1 of the issuing entity's
           Current Report on Form 8-K filed with the Securities and Exchange
           Commission on June 14, 2006.

    (10.1) Mortgage Loan Purchase Agreement, dated May 30, 2006, incorporated
           by reference from Exhibit 10.1 of the issuing entity's Current Report
           on Form 8-K filed with the Securities and Exchange Commission on June
           14, 2006.

    (10.2) Interest Rate Swap Agreement, dated May 30, 2006,
           incorporated by reference from Exhibit 10.2 of the issuing entity's
           Current Report on Form 8-K filed with the Securities and Exchange
           Commission on June 14, 2006.

     (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) HSBC Bank USA, National Association, as Trustee
      b) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A.
      c) Wells Fargo Bank, N.A., as Servicer
      d) Wells Fargo Bank, N.A., as Securities Administrator
      e) Wells Fargo Bank, N.A., as Custodian
      f) ZC Sterling Insurance Agency, Inc. as Sub-Contractor for Wells Fargo Bank, N.A.

      </TABLE>

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

      <TABLE>

      
        <c>
      a) HSBC Bank USA, National Association, as Trustee
      b) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A.
      c) Wells Fargo Bank, N.A., as Servicer
      d) Wells Fargo Bank, N.A., as Securities Administrator
      e) Wells Fargo Bank, N.A., as Custodian
      f) ZC Sterling Insurance Agency, Inc. as Sub-Contractor for Wells Fargo Bank, N.A

      </TABLE>

     (35) Servicer compliance statement.

      <TABLE>

      
         <c>
      a) Wells Fargo Bank, N.A., as Servicer
      b) Wells Fargo Bank, N.A., as Securities Administrator

      </TABLE>