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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.**

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

**Item        1123 of Regulation AB. Servicer Compliance Statement**

**             **

**PART        IV**

**Item        15. Exhibits, Financial Statement Schedules.**

| **Exhibit                    Number** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1.1                                   | Terms                    Agreement, dated March 7, 2006, between Bear, Stearns & Co. Inc., as                    underwriter and Bear Stearns Assets Backed Securities I LLC,                    as depositor,                    relating to the Underwriting Agreement, dated January 10, 2006,                    between                    Bear, Stearns & Co. Inc., as underwriter and Bear Stearns Assets                    Backed Securities I LLC, as depositor (As previously filed on                    Form 8-K                    filed on May 02, 2006 and on Form 8-K/A filed on May 19, 2006                    and is                    hereby incorporated by reference into this report on Form                    10-K) |
| 4.1                                   | Pooling                    and Servicing Agreement, dated as of March 1, 2006, among Bear                    Stearns                    Asset Backed Securities I LLC, as depositor, EMC Mortgage Corporation,                    as                    sponsor and as company, LaSalle Bank National Association, as                    master                    servicer and securities administrator and Citibank, N.A. as trustee                    (As                    previously filed on Form 8-K filed on May 02, 2006 and on Form                    8-K/A filed                    on May 19, 2006 and is hereby incorporated by reference into                    this report                    on Form 10-K).                        |
| 4.1                                   | Amendment                    Number One to the Pooling and Servicing Agreement, dated as of                    March 1,                    2006, among Bear Stearns Asset Backed Securities I LLC, as depositor,                    EMC                    Mortgage Corporation, as sponsor and as company, LaSalle Bank                    National                    Association, as master servicer and securities administrator                    and Citibank,                    N.A. as trustee trustee (As previously filed on Form 8-K filed                    on June 27,                    2006 and is hereby incorporated by reference into this report                    on Form                    10-K)                            |
| 10.1                                  | Amended                    and Restated Master Seller's Warranties and Servicing Agreement                    for                    residential first mortgage loans, dated and effective as of November                    1,                    2005, and is executed between EMC Mortgage Corporation, as purchaser                    (the                    "Purchaser"), and Wells Fargo Bank, N.A., as seller and servicer                    (the                    "Company").                                                                                                                                                                                                                                                             |
| 31                                    | Sarbanes-Oxley                    Certification                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 33(a)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, LaSalle Bank National Association, as Master                    Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 33(b)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, EMC Mortgage Corporation, as Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 33(c)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, LaSalle Bank National Association, as Securities                    Administrator                    and Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 33(d)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, Wells Fargo Bank National Association, as servicing                    function                    participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 33(e)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, LandAmerica Tax and Flood Services, Inc., as servicing                    function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 33(f)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, Assurant, Inc., as servicing function                    participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 33(g)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, Regulus Group LLC, as servicing function                    participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 33(h)                                 | Report                    on assessment of compliance with servicing criteria for asset-backed                    securities, ZC Sterling Insurance Agency, Inc., as servicing                    function                    participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 34(a)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, LaSalle Bank National Association, as                    Master                    Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 34(b)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, EMC Mortgage Corporation, as                    Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 34(c)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, LaSalle Bank National Association, as                    Securities                    Administrator and Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 34(d)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, Wells Fargo Bank National Association,                    as                    servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 34(e)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, LandAmerica Tax and Flood Services,                    Inc., as                    servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 34(f)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, Assurant, Inc., as servicing function                    participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 34(g)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, Regulus Group LLC, as servicing function                    participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 34(h)                                 | Attestation                    report on assessment of compliance with servicing criteria for                    asset-backed securities, ZC Sterling Insurance Agency, Inc.,                    as servicing                    function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 35(a)                                 | Servicer                    compliance statement, LaSalle Bank National Association, as Master                    Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 35(b)                                 | Servicer                    compliance statement, EMC Mortgage Corporation, as                    Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 35(c)                                 | Servicer                    compliance statement, LaSalle Bank National Association, as Securities                    Administrator                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 35(d)                                 | Servicer                    compliance statement, Wells Fargo Bank National Association,                    as servicing                    function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

| (b)                      The exhibits required to be filed by Registrant pursuant to                      Item 601 of                      Regulation S-K:                                                                                                                                                                                                                                                                                                                                                                |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  (10.1)                      Amended and Restated Master Seller's Warranties and Servicing                      Agreement                      for residential first mortgage loans, dated and effective as                      of November                      1, 2005, and is executed between EMC Mortgage Corporation,                      as purchaser                      (the "Purchaser"), and Wells Fargo Bank, N.A., as seller and                      servicer (the                      "Company"). |
|  (31)                      Rule 13a-14(d)/15d-14(d) Certifications.                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
|  (33)                      Reports on assessment of compliance with servicing criteria                      for                      asset-backed securities:                                                                                                                                                                                                                                                                                                                                                        |   |
|  1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | LaSalle                      Bank National Association, as Master Servicer |   |
| 2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | EMC                      Mortgage Corporation, as Company |   |
| 3.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | LaSalle                      Bank National Association, as Securities Administrator and                      Custodian |   |
| 4.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Wells                      Fargo Bank National Association, as servicing function                      participant |   |
| 5.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | LandAmerica                      Tax and Flood Services, Inc., as servicing function                      participant |   |
| 6.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Assurant,                      Inc., as servicing function participant |   |
| 7.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Regulus                      Group LLC, as servicing function participant |   |
| 8.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | ZC                      Sterling Insurance Agency, Inc., as servicing function                      participant |   |
|  (34)                      Attestation reports on assessment of compliance with servicing                      criteria                      for asset-backed securities:                                                                                                                                                                                                                                                                                                                                            |
|  1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | LaSalle                      Bank National Association, as Master Servicer |
| 2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | EMC                      Mortgage Corporation, as Company |
| 3.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | LaSalle                      Bank National Association, as Securities Administrator and                      Custodian |
| 4.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Wells                      Fargo Bank National Association, as servicing function                      participant |   |
| 5.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | LandAmerica                      Tax and Flood Services, Inc., as servicing function                      participant |   |
| 6.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Assurant,                      Inc., as servicing function participant |   |
| 7.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Regulus                      Group LLC, as servicing function participant |   |
| 8.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | ZC                      Sterling Insurance Agency, Inc., as servicing function                      participant |   |
| (35)                      Servicer Compliance Statements:                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|  1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | LaSalle                      Bank National Association, as Master Servicer |
| 2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | EMC                      Mortgage Corporation, as Company |
| 3.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | LaSalle                      Bank National Association, as Securities Administrator |
| 4.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Wells                      Fargo Bank National Association, as servicing function                      participant |

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**SIGNATURES**

|                                                       | LaSalle                    Bank National Association, as Master Servicer |
|------------------------------------------------------------|--------------------------------------------------------------------------|
|                                                       |                                                                     |
|  March                    29,                    2007 | /s/                    Andrew Leszczynski                                |
|                                                       | By: Andrew                    Leszczynski                           |
|                                                       | Title: First                    Vice President                      |

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**EXHIBIT      INDEX**

| **Exhibit                  Number** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|-------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1.1                                 | Terms                  Agreement, dated March 7, 2006, between Bear, Stearns & Co. Inc., as                  underwriter and Bear Stearns Assets Backed Securities I LLC, as                  depositor,                  relating to the Underwriting Agreement, dated January 10, 2006,                  between                  Bear, Stearns & Co. Inc., as underwriter and Bear Stearns Assets                  Backed Securities I LLC, as depositor (As previously filed on Form                  8-K                  filed on May 02, 2006 and on Form 8-K/A filed on May 19, 2006 and                  is                  hereby incorporated by reference into this report on Form                  10-K) |
| 4.1                                 | Pooling                  and Servicing Agreement, dated as of March 1, 2006, among Bear                  Stearns                  Asset Backed Securities I LLC, as depositor, EMC Mortgage Corporation,                  as                  sponsor and as company, LaSalle Bank National Association, as master                  servicer and securities administrator and Citibank, N.A. as trustee                  (As                  previously filed on Form 8-K filed on May 02, 2006 and on Form                  8-K/A filed                  on May 19, 2006 and is hereby incorporated by reference into this                  report                  on Form 10-K).                                           |
| 4.1                                 | Amendment                  Number One to the Pooling and Servicing Agreement, dated as of                  March 1,                  2006, among Bear Stearns Asset Backed Securities I LLC, as depositor,                  EMC                  Mortgage Corporation, as sponsor and as company, LaSalle Bank National                  Association, as master servicer and securities administrator and                  Citibank,                  N.A. as trustee trustee (As previously filed on Form 8-K filed                  on June 27,                  2006 and is hereby incorporated by reference into this report on                  Form                  10-K)                                               |
| 10.1                                | Amended                  and Restated Master Seller's Warranties and Servicing Agreement                  for                  residential first mortgage loans, dated and effective as of November                  1,                  2005, and is executed between EMC Mortgage Corporation, as purchaser                  (the                  "Purchaser"), and Wells Fargo Bank, N.A., as seller and servicer                  (the                  "Company").                                                                                                                                                                                                                                                       |
| 31                                  | Sarbanes-Oxley                  Certification                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 33(a)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, LaSalle Bank National Association, as Master                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 33(b)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, EMC Mortgage Corporation, as Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 33(c)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, LaSalle Bank National Association, as Securities Administrator                  and Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 33(d)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, Wells Fargo Bank National Association, as servicing                  function                  participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 33(e)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, LandAmerica Tax and Flood Services, Inc., as servicing                  function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 33(f)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, Assurant, Inc., as servicing function                  participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 33(g)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, Regulus Group LLC, as servicing function                  participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 33(h)                               | Report                  on assessment of compliance with servicing criteria for asset-backed                  securities, ZC Sterling Insurance Agency, Inc., as servicing function                  participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 34(a)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, LaSalle Bank National Association, as                  Master                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 34(b)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, EMC Mortgage Corporation, as                  Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 34(c)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, LaSalle Bank National Association, as                  Securities                  Administrator and Custodian                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 34(d)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, Wells Fargo Bank National Association,                  as                  servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 34(e)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, LandAmerica Tax and Flood Services, Inc.,                  as                  servicing function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 34(f)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, Assurant, Inc., as servicing function                  participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 34(g)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, Regulus Group LLC, as servicing function                  participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 34(h)                               | Attestation                  report on assessment of compliance with servicing criteria for                  asset-backed securities, ZC Sterling Insurance Agency, Inc., as                  servicing                  function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 35(a)                               | Servicer                  compliance statement, LaSalle Bank National Association, as Master                  Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 35(b)                               | Servicer                  compliance statement, EMC Mortgage Corporation, as                  Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 35(c)                               | Servicer                  compliance statement, LaSalle Bank National Association, as Securities                  Administrator                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 35(d)                               | Servicer                  compliance statement, Wells Fargo Bank National Association, as                  servicing                  function participant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

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