**UNITED
          STATES**
 **SECURITIES
          AND EXCHANGE COMMISSION**
 **Washington,
          DC 20549**
  
 **FORM
          10-K**
 
 (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
  For
          the
          transition period from  to
  Commission
          file number  333-130333-13
 
  Citicorp
                    Mortgage Securities Trust, Series 2006-7(Exact
                    name of issuing entity as specified in its
                    charter)
 
  Citicorp
                    Mortgage Securities, Inc.(Exact
                    name of depositor as specified in its
                    charter)
 
  CitiMortgage,
                    Inc.(Exact
                    name of sponsor as specified in its
                    charter)
 
  New
                    York
                
                22-3949362
                    and 22-3949364(State
                    or Other Jurisdiction of Incorporation or Organization of Issuing
                    Entity)
                
                (I.R.S.
                    Employer Identification Number of
                  Issuing
                    Entity)1000
                    Technology Drive, O’Fallon, Missouri
                
                63368-2240(Address
                    of Principal Executive
                  Offices
                    of Issuing Entity)
                
                (Zip
                    Code)
 
 Registrant’s
          telephone number, including area code (636)
          261-1313
 
 Securities
          Registered pursuant to Section 12(b) of the Exchange
          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   [X] No
 
 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   [X] No
 
 1
  
  
 Indicate
          by check mark whether the registrant: (1) has filed all reports required to be
          filed by Section 13 or 15(d) of the Exchange Act during the preceding 12
          months
          (or 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.        [X] Yes [  ]
          No
 
 
 Indicate
          by check mark if disclosure of delinquent filers pursuant to Item 405 of
          Regulation S-K 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.      [  ] [Item 405 of
          Regulation S-K is 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 Exchange Act).   [   ]
          Yes   [X] No
 
 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.]
 
 
 **PART
          I**
  **The
          following items have been omitted pursuant to General Instruction J. to
          Form
          10-K:**
 
 Item
          1.          Business
 Item
          1A.       Risk Factors
 Item
          2.          Properties
 Item
          3.          Legal
          Proceedings
 Item
          4.          Submission of
          Matters to a Vote of Security Holders
 
 
 **Item
          1B.       Unresolved Staff
          Comments**
 
 None.
  
 **The
          following substitute information is provided in accordance with General
          Instruction J. to Form 10-K:**
  **Item
          1112(b) of Regulation AB**  **(Significant
          obligors of pool assets)**
  No
          single
          obligor represents more than 10% of the pool assets held by the issuing
          entity.
  **Item
          1114(b)(2) of Regulation AB**  **(Credit
          enhancement and other support, except for certain derivative instruments)
          (Information regarding significant enhancement providers)**
  No
          entity
          or group of affiliated entities provides any external credit enhancement
          for the
          certificates issued by the issuing entity.
  **Item
          1115(b) of Regulation AB**  **(Certain
          derivative instruments)**
  No
          entity
          or group of affiliated entities provides derivative instruments having
          a
          significance percentage of 10% or more.
 
 
 2
  
  
 **Item
          1117 of Regulation AB (Legal Proceedings)**
 
 There
          are
          no legal proceedings that would be material to investors against the sponsor,
          the depositor, the issuing entity, Citibank, N.A. (the paying agent,
          authenticating agent and certificate registrar for the issuing entity),
          or to
          CitiMortgage, Inc.’s knowledge, the trustee, nor does CitiMortgage, Inc. know of
          any such proceeding contemplated by any governmental authorities.
 
 
 **PART
          II**
 
 
 **The
          following items have been omitted pursuant to General Instruction J. of
          Form
          10-K:**
 
 Item
          5.        Market for Registrant’s Common
          Equity and 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 Operations
 Item
          7A.     Quantitative and Qualitative Disclosures About
          Market Risk
 Item
          8.        Financial Statements and
          Supplementary Data
 Item
          9.        Changes in Disagreements With
          Accountants on Accounting and Financial Disclosure
 Item
          9A.     Controls and Procedures
 
 
 **Item
          9A(T).    Controls and Procedures**
 
 Not
          applicable.
 **Item
          9B.    Other Information**
 
 None.
   **PART
          III**
  
 **The
          following items have been omitted pursuant to General Instruction J. of
          Form
          10-K:**
  Item
          10.       Directors, Executive Officers and
          Corporate Governance
 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 Independence
 Item
          14.       Principal Accountant Fees and
          Services
 
 **The
          following substitute information is provided in accordance with General
          Instruction J. to Form 10-K:**
  **Item
          1119 of Regulation AB**  **(Affiliations
          and certain relationships and related transactions)**
  Omitted
          pursuant to the Instruction to Item 1119 of Regulation AB.
  **Item
          1122 of Regulation AB**  **(Compliance
          with applicable servicing criteria)**
  The
          reports required by Item 1122(a) and (b) of, or relating to, all parties
          determined by the registrant to be participating in the servicing function
          with
          respect to the issuing entity are attached to this Form 10-K as Exhibits
          33.1.1,
          33.1.2, 34.1.1 and 34.1.2. None of such reports identifies any instance
          of
          material noncompliance with the servicing criteria applicable to those
          parties.
  **Item
          1123 of Regulation AB (Servicer compliance statement)**
 
 The
          statement required by Item 1123 is attached to this Form 10-K as Exhibit
          35.1.
 
 3
  
  
 **PART
          IV**
  
 **Item
                    15.**
                **Exhibits
                    and Financial Statements and Schedules**(a)(1)
                Not
                    applicable.(a)(2)
                Not
                    applicable.(a)(3)
                Exhibits**Exhibit
                    Number**
                **Description**4.1
                Pooling
                    and Servicing Agreement, dated as ofDecember
                    1, 2006,
                    incorporated by reference from Exhibit 4.1of
                    the Issuing Entity’s Current Report onForm
                    8-K filed with the Commission on January 4, 2007.10.1
                Form
                    of Mortgage Loan Purchase Agreement, datedDecember
                    1, 2006,
                    incorporated by reference from Exhibit 10.1 of the Issuing Entity’s
                    Current Report onForm
                    8-K filed with the Commission on January 4, 2007.31.1
                Certification
                    pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and
                    relevant
                    rules and regulations of the Commission, dated March 28,
                    2007.33.1.1
                Management
                    Assessment of Compliance with Applicable Servicing Criteria,
                    dated
                    February 27, 2007, of CitiMortgage, Inc.33.1.2
                Management’s
                    Assertion of Compliance, dated February 28, 2007, of Citibank,
                    N.A.34.1.1
                Report
                    of Independent Registered Public Accounting Firm, dated February
                    27, 2007,
                    of KPMG LLP, relating to Exhibit 33.1.1.34.1.2
                Report
                    of Independent Registered Public Accounting Firm, dated February
                    28, 2007,
                    of KPMG LLP, relating to Exhibit 33.1.2.35.1
                Servicer
                    Compliance Statement of CitiMortgage, Inc., dated February 27,
                    2007.
 
  4
   
  **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.
  **Citicorp
          Mortgage Securities Trust, Series 2006-7**
  By: **CitiMortgage,
          Inc.** ,
          as
          Servicer
  By: /s/
          Herb
          Gover
 Herb
          Gover
 Executive
          Vice President, North American Consumer Asset Operations
  March
          28,
          2007
 
 
 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  5
   
  **INDEX
          TO EXHIBITS**
  
 
 **Exhibit
                    Number**
                **Description**4.1
                Pooling
                    and Servicing Agreement, dated as ofDecember
                    1, 2006,
                    incorporated by reference from Exhibit 4.1of
                    the Issuing Entity’s Current Report onForm
                    8-K filed with the Commission on January 4, 2007.10.1
                Form
                    of Mortgage Loan Purchase Agreement, datedDecember
                    1, 2006,
                    incorporated by reference from Exhibit 10.1 of the Issuing Entity’s
                    Current Report onForm
                    8-K filed with the Commission on January 4, 2007.31.1
                Certification
                    pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and
                    relevant
                    rules and regulations of the Commission, dated March 28,
                    2007.33.1.1
                Management
                    Assessment of Compliance with Applicable Servicing Criteria,
                    dated
                    February 27, 2007, of CitiMortgage, Inc.33.1.2
                Management’s
                    Assertion of Compliance, dated February 28, 2007, of Citibank,
                    N.A.34.1.1
                Report
                    of Independent Registered Public Accounting Firm, dated February
                    27, 2007,
                    of KPMG LLP, relating to Exhibit 33.1.1.34.1.2
                Report
                    of Independent Registered Public Accounting Firm, dated February
                    28, 2007,
                    of KPMG LLP, relating to Exhibit 33.1.2.35.1
                Servicer
                    Compliance Statement of CitiMortgage, Inc., dated February 27,
                    2007.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 6