Content:

Pages

Contact Information:

5/25/2006

Statement to Certificate Holders

Analyst:

Matthew Ceiley

714.259.6270

Statement to Certificate Holders (Factors)

Matthew.Ceiley@abnamro.com

Pool/Non-Pool Funds Cash Reconciliation

4/25/2006

Administrator:

Carol Tilton

312.992.2745

Cash Reconciliation Summary

5-6

carol.corradino-tilton@abnamro.com

Pool Detail and Performance Indicators

7-9

LaSalle Website:

www.etrustee.net

Bond Interest Reconciliation Part I

6/26/2006

Bond Interest Reconciliation Part II

Bond Principal Reconciliation

Outside Parties To The Transaction

Rating Information

5/24/2006

End of Month Balance Reporting

14-15

15 Month Loan Status Summary Part I

16-24

15 Month Loan Status Summary Part II

25-33

15 Month Historical Payoff Summary

34-38

Prepayment Summary

Mortgage Loan Characteristics Part I

Mortgage Loan Characteristics Part II

41-43

2/28/2006

Geographic Concentration

Historical Realized Loss Summary

45-47

Current Period Realized Loss Detail

3/27/2006

Realized Loss Summary

Material Breaches Detail

Modified Loan Detail

2/25/2036

5/15/2006

Determination

Date:

15-May-06

First Pay. Date:

Rating Agency: Moody's Investors Service, Inc./Standard & Poor's

27-Mar-06

Rated Final

Payment Date:

25-Feb-36

Underwriter: Bear Stearns Asset Backed Securities, Inc.

Closing Date:

28-Feb-06

Master Servicer: EMC Mortgage Corporation

Record Date:

24-May-06

Issuer: Bear Stearns & Co. Inc.

Distribution Count:

Depositor: Bear Stearns Asset Backed Securities, Inc.

Prior Payment:

25-Apr-06

Next Payment:

26-Jun-06

ABN AMRO Acct : 723455.1

Payment Date:

25-May-06

Distribution Date: 25-May-06

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

24-May-2006 09:35

I-A-1

07387UEH0

198,258,000.00

188,035,877.52

9,603,375.74

0.00

178,432,501.78

789,653.53

0.00

5.0393800000%

I-A-2

07387UEJ6

74,638,000.00

0.00

74,638,000.00

320,904.84

0.00

5.1593800000%

I-A-3

07387UEK3

14,310,000.00

0.00

14,310,000.00

62,956.61

0.00

5.2793800000%

II-A

07387UEL1

241,697,000.00

231,460,639.05

6,207,619.20

0.00

225,253,019.85

995,161.16

0.00

5.1593800000%

M-1

07387UEM9

32,836,000.00

0.00

32,836,000.00

146,650.50

0.00

5.3593800000%

M-2

07387UEN7

26,127,000.00

0.00

26,127,000.00

116,904.83

0.00

5.3693800000%

M-3

07387UEP2

15,888,000.00

0.00

15,888,000.00

71,355.39

0.00

5.3893800000%

M-4

07387UEQ0

13,770,000.00

0.00

13,770,000.00

63,793.89

0.00

5.5593800000%

M-5

07387UER8

13,064,000.00

0.00

13,064,000.00

60,523.12

0.00

5.5593800000%

M-6

07387UES6

12,004,000.00

0.00

12,004,000.00

56,912.76

0.00

5.6893800000%

M-7

07387UET4

10,945,000.00

0.00

10,945,000.00

58,002.85

0.00

6.3593800000%

M-8

07387UEU1

9,886,000.00

0.00

9,886,000.00

53,626.44

0.00

6.5093800000%

M-9

07387UEV9

8,121,000.00

0.00

8,121,000.00

48,789.48

0.00

7.2093800000%

M-10

07387UEW7

8,827,000.00

0.00

8,827,000.00

53,031.00

0.00

7.2093800000%

07387UEY3

706,145,220.18 N

685,686,817.11

0.00

669,875,822.16

1,402,782.34

175,537.03

N/A

07387UEX5

100.00

0.00

100.00

259,988.23

N/A

R-1

07387UEZ0

0.00

N/A

R-II

07387UFA4

0.00

N/A

R-III

07387UFB2

0.00

N/A

07387UFC0

0.00

N/A

Total

680,371,100.00

659,912,616.57

15,810,994.94

0.00

644,101,621.63

4,561,036.97

435,525.26

Total P&I Payment

20,372,031.91

Current Realized

Loss

Class

CUSIP

Beginning

Certificate Balance

Principal Payment

Original Face Value

(1)

N denotes notional balance not included in total

(2)

Accrued Interest plus/minus Interest Adjustment minus Deferred Interest equals Interest Payment * Denotes Controlling Class

Interest

Adjustment

Bond Payments

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

Pass-Through

Rate

Deferred Interest

Ending Certificate

Balance

Interest Payment

(2)

24-May-2006 09:35

Page 2 of 51

I-A-1

07387UEH0

198,258,000.00

948.440302636

48.438780478

0.000000000

900.001522158

3.982959225

0.000000000

5.16125000%

I-A-2

07387UEJ6

74,638,000.00

1000.000000000

0.000000000

1000.000000000

4.299483373

0.000000000

5.28125000%

I-A-3

07387UEK3

14,310,000.00

1000.000000000

0.000000000

1000.000000000

4.399483578

0.000000000

5.40125000%

II-A

07387UEL1

241,697,000.00

957.647960256

25.683476419

0.000000000

931.964483837

4.117391445

0.000000000

5.28125000%

M-1

07387UEM9

32,836,000.00

1000.000000000

0.000000000

1000.000000000

4.466149957

0.000000000

5.48125000%

M-2

07387UEN7

26,127,000.00

1000.000000000

0.000000000

1000.000000000

4.474483485

0.000000000

5.49125000%

M-3

07387UEP2

15,888,000.00

1000.000000000

0.000000000

1000.000000000

4.491149924

0.000000000

5.51125000%

M-4

07387UEQ0

13,770,000.00

1000.000000000

0.000000000

1000.000000000

4.632816993

0.000000000

5.68125000%

M-5

07387UER8

13,064,000.00

1000.000000000

0.000000000

1000.000000000

4.632816901

0.000000000

5.68125000%

M-6

07387UES6

12,004,000.00

1000.000000000

0.000000000

1000.000000000

4.741149617

0.000000000

5.81125000%

M-7

07387UET4

10,945,000.00

1000.000000000

0.000000000

1000.000000000

5.299483783

0.000000000

6.48125000%

M-8

07387UEU1

9,886,000.00

1000.000000000

0.000000000

1000.000000000

5.424483107

0.000000000

6.63125000%

M-9

07387UEV9

8,121,000.00

1000.000000000

0.000000000

1000.000000000

6.007816771

0.000000000

7.33125000%

M-10

07387UEW7

8,827,000.00

1000.000000000

0.000000000

1000.000000000

6.007816925

0.000000000

7.33125000%

07387UEY3

706,145,220.18 N

971.028051334

0.000000000

948.637479964

1.986535205

0.248584887

N/A

07387UEX5

100.00

1000.000000000

0.000000000

1000.000000000

2599882.300000000

N/A

R-1

07387UEZ0

0.00

0.000000000

N/A

R-II

07387UFA4

0.00

0.000000000

N/A

R-III

07387UFB2

0.00

0.000000000

N/A

07387UFC0

0.00

0.000000000

N/A

Bond Payments

Current Realized

Loss *

Original Face

Value

Class

CUSIP

Beginning Certificate

Balance *

Principal Payment

Series 2006-HE2

Asset-Backed Certificates

* Per $1,000 of Original Face Value ** Estimated

Bear Stearns Asset Backed Securities I Trust

Next Rate **

Deferred Interest *

Ending Certificate

Balance *

Interest Payment *

Interest Adjustment*

Statement to Certificate Holders (FACTORS)

Distribution Date: 25-May-06

24-May-2006 09:35

Page 3 of 51

Interest Summary

Principal Summary

Reserve Fund

Interest Summary

Principal Summary

Beginning Balance

5,000.00

Scheduled Interest

4,414,928.67

Scheduled Prin Distribution

336,499.70

Withdrawal from Trust

0.00

Fees

289,416.98

Curtailments

22,519.94

Reimbursement from Waterfall

0.00

Remittance Interest

4,125,511.69

Prepayments in Full

15,451,975.32

Ending Balance

5,000.00

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

0.00

Prepayment Penalties

259,988.23

Repurchase Proceeds

0.00

Swap Agreement

Other Interest Loss

0.00

Other Principal Proceeds

0.00

Other Interest Proceeds

0.00

Remittance Principal

15,810,994.96

Net Swap payment payable to the Swap

Non-advancing Interest

0.00

Administrator

0.00

Net PPIS/Relief Act Shortfall

0.00

Net Swap payment payable to the Swap Provider

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

259,988.23

Swap Termination payment payable to the Swap

Interest Adjusted

4,385,499.92

Administrator

0.00

Fee Summary

Swap Termination payment payable to the Swap

0.00

Total Servicing Fees

285,702.84

Provider

Total Trustee Fees

3,714.14

LPMI Fees

0.00

Yield Maintenance Agreement

Credit Manager's Fees

0.00

Misc. Fees / Trust Expense

0.00

Amt Received Under the Yield Main. Agreement

175,537.03

Insurance Premium

0.00

Total Fees

289,416.98

Advances (Principal & Interest)

Prior Month's Outstanding Advances

4,452,271.55

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

1,494,976.33

P&I Due Certificate Holders

20,372,031.91

Pool Source of Funds

Non-Pool Source of Funds

P&I Advances as of the end of the Due Period do not reflect the amount of advances remitted by the Servicer on the Servicer Remittance Date due to additional proceeds received between the end of the Due Period and the Servicer Remittance Date and netted from the P&I Advances stated as of the end
of the Due Period.

Distribution Date: 25-May-06

Cash Reconciliation Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

24-May-2006 09:35

Page 4 of 51

Fixed 1st Lien

Fixed 2nd Lien

228 ARM

327 ARM

Total

Interest Summary

Scheduled Interest

284,541.54

137,796.10

1,617,917.46

362,969.96

2,403,225.06

Fees

19,127.59

6,699.52

106,737.86

24,969.21

157,534.18

Remittance Interest

265,413.95

131,096.59

1,511,179.59

338,000.75

2,245,690.88

Other Interest Proceeds/Shortfalls

Prepayment Penalties

2,149.68

6,125.93

144,075.42

10,139.86

162,490.89

Other Interest Loss

0.00

Other Interest Proceeds

0.00

Non-advancing Interest

0.00

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

2,149.68

6,125.93

144,075.42

10,139.86

162,490.89

Interest Adjusted

267,563.63

137,222.52

1,655,255.01

348,140.61

2,408,181.77

Principal Summary

Scheduled Principal Distribution

41,167.09

8,314.78

86,984.23

29,219.18

165,685.28

Curtailments

6,475.81

760.25

6,340.86

1,324.37

14,901.29

Prepayments in Full

221,845.46

327,391.06

8,018,177.53

855,375.13

9,422,789.18

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

269,488.36

336,466.09

8,111,502.62

885,918.68

9,603,375.75

Fee Summary

Total Servicing Fees

18,882.12

6,613.54

105,368.08

24,648.78

155,512.51

Total Trustee Fees

245.47

85.98

1,369.78

320.43

2,021.66

LPMI Fees

0.00

Total Fees

19,127.59

6,699.52

106,737.86

24,969.21

157,534.18

Beginning Principal Balance

45,317,089.00

15,872,497.92

252,883,384.57

59,157,063.81

373,230,035.30

Ending Principal Balance

45,047,600.64

15,536,031.83

244,771,881.95

58,271,145.13

363,626,659.55

Advances (Principal & Interest)

Prior Month's Outstanding Advances

274,384.00

128,088.00

1,642,340.00

352,580.00

2,397,392.00

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

153,569.12

91,781.13

296,907.62

80,674.76

622,932.63

Distribution Date: 25-May-06

Cash Reconciliation Summary Group I Loans

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

24-May-2006 09:35

Page 5 of 51

Distribution Date: 25-May-06

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Fixed 1st Lien

Fixed 2nd Lien

228 ARM

327 ARM

Total

Interest Summary

Scheduled Interest

317,088.67

43,107.23

1,272,713.41

378,794.30

2,011,703.61

Fees

20,855.58

2,145.33

82,181.47

26,700.42

131,882.80

Remittance Interest

296,233.08

40,961.90

1,190,531.93

352,093.89

1,879,820.81

Other Interest Proceeds/Shortfalls

Prepayment Penalties

20,544.44

0.00

63,645.64

13,307.26

97,497.34

Other Interest Loss

0.00

Other Interest Proceeds

0.00

Non-advancing Interest

0.00

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

20,544.44

0.00

63,645.64

13,307.26

97,497.34

Interest Adjusted

316,777.52

40,961.90

1,254,177.57

365,401.15

1,977,318.15

Principal Summary

Scheduled Principal Distribution

45,362.25

2,652.13

101,518.16

21,281.88

170,814.42

Curtailments

3,353.21

236.69

3,717.53

311.22

7,618.65

Prepayments in Full

694,660.35

0.00

4,412,179.47

922,346.32

6,029,186.14

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

743,375.81

2,888.82

4,517,415.16

943,939.42

6,207,619.21

Fee Summary

Total Servicing Fees

20,587.94

2,117.79

81,126.83

26,357.76

130,190.33

Total Trustee Fees

267.64

27.53

1,054.65

342.65

1,692.47

LPMI Fees

0.00

Total Fees

20,855.58

2,145.33

82,181.47

26,700.42

131,882.80

Beginning Principal Balance

49,411,058.22

5,082,707.47

194,704,380.15

63,258,635.97

312,456,781.81

Ending Principal Balance

48,667,682.41

5,079,818.65

190,186,964.99

62,314,696.56

306,249,162.61

Advances (Principal & Interest)

Prior Month's Outstanding Advances

319,266.00

36,306.30

1,349,170.00

350,138.00

2,054,880.30

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

182,406.83

34,874.20

530,721.53

124,041.14

872,043.70

Cash Reconciliation Summary Group II Loans

24-May-2006 09:35

Page 6 of 51

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cut-off Pool Balance

706,145,220.18

5,190

3 mo. Rolling Average

7,532,582.13

684,454,741

1.11%

WAC - Current

7.61%

7.14%

7.22%

Cum Scheduled Principal

1,016,419.10

6 mo. Rolling Average

7,532,582.13

684,454,741

1.11%

WAC - Original

7.62%

7.15%

7.23%

Cum Unscheduled Principal

35,252,979.51

12 mo. Rolling Average

7,532,582.13

684,454,741

1.11%

WAL - Current

313.31

353.04

346.27

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAL - Original

314.61

355.05

348.30

Cum Deferred Interest

0.00

3 mo. Cum Loss

0.00

6 mo. Cum loss

0.00

Current Index Rate

Current

Amount

Count

12 mo. Cum Loss

0.00

Next Index Rate

Beginning Pool

685,686,817.11

5,065

97.10%

Scheduled Principal

336,499.70

0.05%

Triggers

Unscheduled Principal

15,474,495.26

2.19%

Deferred Interest

0.00

0.00%

> Delinquency Trigger Event

(2)

Liquidations

0.00

0.00%

Delinquency Event Calc

(1)

13,584,681.58

669,875,822

2.03%

Repurchases

0.00

0.00%

Ending Pool

669,875,822.16

4,974

94.86%

> Loss Trigger Event?

(3)

Average Loan Balance

134,675.48

Cumulative Loss

0.00%

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

0.00

Pool Composition

Realized Loss

0.00

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

0.00

Current Specified Enhancement %

(4)

26.46%

Cut-off LTV

81.86%

Step Down %

(5)

50.20%

Cash Out/Refinance

60.71%

Credit Enhancement

Amount

% of Current Specified Enhancement %

(6)

31.75%

SFR

76.46%

Original OC

25,774,221.00

3.65%

> Step Down Date?

Target OC

25,774,300.54

3.65%

Min

Max

Beginning OC

25,774,300.54

Extra Principal

0.00

FICO

500

822

620.94

OC Amount per PSA

25,774,300.55

3.65%

Cumulative Extra Principal

80.36

Ending OC

25,774,300.53

OC Release

0.02

Mezz Certificates

151,468,000.00 21.45%

Legend: (1) 60 Days+, REO, BK, F/C % (3) Condn: Cum Loss > specified thresholds (5) Defined Benchmark (7) Condn: Distn Cnt > 36, (4) > (5)
(2) (1) > (6) * (4), then TRUE (4) Mezzanine Certs + OC Amount / Ending Pool Bal (6) Defined Benchmark (Used in Delinq Event Calc)

Owner Occupied

634,811,056.39

89.90%

Balance

578,067,895.56

428,680,619.71

539,940,410.98

Misc/Additional Information

Pool Level Information

4.959380%

5.081250%

Distribution Date: 25-May-06

Pool Detail and Performance Indicators Total (All Loans)

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

24-May-2006 09:35

Page 7 of 51

Distribution Date: 25-May-06

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cut-off Pool Balance

383,452,117.00

2,402

3 mo. Rolling Average

3,002,500.50

372,035,001

0.82%

WAC - Current

7.78%

7.11%

7.22%

Cum Scheduled Principal

499,099.54

6 mo. Rolling Average

3,002,500.50

372,035,001

0.82%

WAC - Original

7.79%

7.12%

7.23%

Cum Unscheduled Principal

19,326,358.49

12 mo. Rolling Average

3,002,500.50

372,035,001

0.82%

WAL - Current

304.57

353.04

344.99

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAL - Original

305.25

355.06

346.97

Cum Deferred Interest

0.00

3 mo. Cum Loss

0.00

6 mo. Cum loss

0.00

Current Index Rate

Current

Amount

Count

12 mo. Cum Loss

0.00

Next Index Rate

Beginning Pool

373,230,035.30

2,354

97.33%

Scheduled Principal

165,685.28

0.04%

Triggers

Unscheduled Principal

9,437,690.47

2.46%

Deferred Interest

0.00

0.00%

> Delinquency Trigger Event

(2)

Liquidations

0.00

0.00%

Delinquency Event Calc

(1)

5,906,990.29

363,626,660

1.62%

Repurchases

0.00

0.00%

Ending Pool

363,626,659.55

2,305

94.83%

> Loss Trigger Event?

(3)

Average Loan Balance

157,755.60

Cumulative Loss

N/A

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

0.00

Pool Composition

Realized Loss

0.00

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

0.00

Current Specified Enhancement %

(4)

N/A

Cut-off LTV

82.29%

Step Down %

(5)

N/A

Cash Out/Refinance

51.07%

Credit Enhancement

Amount

% of Current Specified Enhancement %

(6)

N/A

SFR

73.93%

Original OC

N/A

> Step Down Date?

Target OC

N/A

Min

Max

Beginning OC

N/A

Extra Principal

0.00

FICO

500

822

623.16

OC Amount per PSA

N/A

Cumulative Extra Principal

0.00

Ending OC

N/A

OC Release

N/A

Mezz Certificates

N/A

93.96%

195,847,014.56

283,499,754.24

Owner Occupied

360,307,165.73

N/A

Balance

315,554,015.86

Pool Detail and Performance Indicators Group I Loans

Misc/Additional Information

Pool Level Information

24-May-2006 09:35

Page 8 of 51

Distribution Date: 25-May-06

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cut-off Pool Balance

322,693,103.18

2,788

3 mo. Rolling Average

4,530,081.63

312,419,739

1.47%

WAC - Current

7.43%

7.17%

7.22%

Cum Scheduled Principal

517,319.56

6 mo. Rolling Average

4,530,081.63

312,419,739

1.47%

WAC - Original

7.43%

7.18%

7.22%

Cum Unscheduled Principal

15,926,621.02

12 mo. Rolling Average

4,530,081.63

312,419,739

1.47%

WAL - Current

323.15

353.04

347.79

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAL - Original

325.17

355.05

349.90

Cum Deferred Interest

0.00

3 mo. Cum Loss

0.00

6 mo. Cum loss

0.00

Current Index Rate

Current

Amount

Count

12 mo. Cum Loss

0.00

Next Index Rate

Beginning Pool

312,456,781.81

2,711

96.83%

Scheduled Principal

170,814.42

0.05%

Triggers

Unscheduled Principal

6,036,804.79

1.87%

Deferred Interest

0.00

0.00%

> Delinquency Trigger Event

(2)

Liquidations

0.00

0.00%

Delinquency Event Calc

(1)

7,677,691.29

306,249,163

2.51%

Repurchases

0.00

0.00%

Ending Pool

306,249,162.61

2,669

94.90%

> Loss Trigger Event?

(3)

Average Loan Balance

114,743.04

Cumulative Loss

N/A

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

0.00

Pool Composition

Realized Loss

0.00

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

0.00

Current Specified Enhancement %

(4)

N/A

Cut-off LTV

81.35%

Step Down %

(5)

N/A

Cash Out/Refinance

72.15%

Credit Enhancement

Amount

% of Current Specified Enhancement %

(6)

N/A

SFR

79.47%

Original OC

N/A

> Step Down Date?

Target OC

N/A

Min

Max

Beginning OC

N/A

Extra Principal

0.00

FICO

500

809

618.29

OC Amount per PSA

N/A

Cumulative Extra Principal

0.00

Ending OC

N/A

OC Release

N/A

Mezz Certificates

N/A

Owner Occupied

274,503,890.66

85.07%

Balance

262,513,879.70

232,833,605.15

256,440,656.74

Misc/Additional Information

Pool Level Information

N/A

Pool Detail and Performance Indicators Group II Loans

24-May-2006 09:35

Page 9 of 51

I-A-1

Act/360

188,035,877.52

5.039380000%

789,653.53

0.00

789,653.53

0.00

I-A-2

Act/360

74,638,000.00

5.159380000%

320,904.84

0.00

320,904.84

0.00

I-A-3

Act/360

14,310,000.00

5.279380000%

62,956.61

0.00

62,956.61

0.00

II-A

Act/360

231,460,639.05

5.159380000%

995,161.16

0.00

995,161.16

0.00

M-1

Act/360

32,836,000.00

5.359380000%

146,650.50

0.00

146,650.50

0.00

M-2

Act/360

26,127,000.00

5.369380000%

116,904.83

0.00

116,904.83

0.00

M-3

Act/360

15,888,000.00

5.389380000%

71,355.39

0.00

71,355.39

0.00

M-4

Act/360

13,770,000.00

5.559380000%

63,793.89

0.00

63,793.89

0.00

M-5

Act/360

13,064,000.00

5.559380000%

60,523.12

0.00

60,523.12

0.00

M-6

Act/360

12,004,000.00

5.689380000%

56,912.76

0.00

56,912.76

0.00

M-7

Act/360

10,945,000.00

6.359380000%

58,002.85

0.00

58,002.85

0.00

M-8

Act/360

9,886,000.00

6.509380000%

53,626.44

0.00

53,626.44

0.00

M-9

Act/360

8,121,000.00

7.209380000%

48,789.48

0.00

48,789.48

0.00

M-10

Act/360

8,827,000.00

7.209380000%

53,031.00

0.00

53,031.00

0.00

30/360

685,686,817.11

2.147770000%

1,227,245.31

177,608.90

0.00

1,403,818.28

1,402,782.34

0.00

100.00

0.000000000%

0.00

259,988.23

0.00

259,988.23

0.00

R-1

0.00

0.000000000%

0.00

R-II

0.00

0.000000000%

0.00

R-III

0.00

0.000000000%

0.00

0.000000000%

0.00

R-IV

0.00

0.000000000%

0.00

R-V

0.00

0.000000000%

0.00

R-VI

0.00

0.000000000%

0.00

Total

659,912,616.57

4,125,511.71

437,597.13

0.00

4,562,072.91

4,561,036.97

0.00

- - Accrual - -

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

- - - - - - - - Outstanding - - - - - - - -

Class

Accrual

Certificate

Interest

Distribution Date: 25-May-06

Pass-Thru Rate

Total Interest

Additions

Distributable

Certificate

Interest

Bond Interest Reconciliation

Opening Balance

(1)

Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

Interest Payment

Amount

Remaining Int

Carry-Forward

Shortfall

Current Period

(Shortfall) /

Recovery

Net Cap

Rate in

Effect Y/N

Total Interest

Deductions

Method

Days

Remaining

Basis Risk Carry-

Fwd Shortfall

Outstanding Relief

Act / Prepayment

Interest Shortfalls

24-May-2006 09:35

Page 10 of 51

I-A-1

24-May-06

25-Apr-06

25-May-06

0.00

I-A-2

24-May-06

25-Apr-06

25-May-06

0.00

I-A-3

24-May-06

25-Apr-06

25-May-06

0.00

II-A

24-May-06

25-Apr-06

25-May-06

0.00

M-1

24-May-06

25-Apr-06

25-May-06

0.00

M-2

24-May-06

25-Apr-06

25-May-06

0.00

M-3

24-May-06

25-Apr-06

25-May-06

0.00

M-4

24-May-06

25-Apr-06

25-May-06

0.00

M-5

24-May-06

25-Apr-06

25-May-06

0.00

M-6

24-May-06

25-Apr-06

25-May-06

0.00

M-7

24-May-06

25-Apr-06

25-May-06

0.00

M-8

24-May-06

25-Apr-06

25-May-06

0.00

M-9

24-May-06

25-Apr-06

25-May-06

0.00

M-10

28-Apr-06

25-Apr-06

25-May-06

0.00

28-Apr-06

1-Apr-06

1-May-06

0.00

1,035.93

175,537.04

0.00

28-Apr-06

1-Apr-06

1-May-06

0.00

259,988.23

0.00

R-1

28-Apr-06

1-Apr-06

1-May-06

0.00

R-II

28-Apr-06

1-Apr-06

1-May-06

0.00

R-III

28-Apr-06

25-Apr-06

25-May-06

0.00

28-Apr-06

1-Apr-06

1-May-06

0.00

R-IV

28-Apr-06

25-Apr-06

25-May-06

0.00

R-V

28-Apr-06

25-Apr-06

25-May-06

0.00

R-VI

28-Apr-06

25-Apr-06

25-May-06

0.00

Total

0.00

259,988.23

1,035.93

175,537.04

0.00

Bear Stearns Asset Backed Securities I Trust

Current Int Carry-

Fwd Shortfall

(2)

Current Basis Risk

Carry-Fwd

Shortfall

(1)

Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

(2)

Interest Carry-Forward Shortfall is unpaid interest with interest thereon.

(3)

Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

- - - - - - - - - - - - - - - - - - - - - - - - - - - Additions - - - - - - - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - Deductions - - - - - - - - - -

Bond Interest Reconciliation

Other Interest

Losses

Prepayment

Premiums

Record Date

Class

Interest Rate

SWAP Agreement

Deposits from YM

Agreement

Prior Int Carry-Fwd

Shortfall

Distribution Date: 25-May-06

Asset-Backed Certificates

Series 2006-HE2

Prior Interest Due

Date

Current Interest

Due Date

Prior Shortfall

Reimbursement

Other Interest

Proceeds

(1)

24-May-2006 09:35

Page 11 of 51

I-A-1

198,258,000.00

188,035,877.52

165,685.28

9,437,690.46

0.00

178,432,501.78

25-Feb-36

N/A

I-A-2

74,638,000.00

0.00

74,638,000.00

25-Feb-36

N/A

I-A-3

14,310,000.00

0.00

14,310,000.00

25-Feb-36

N/A

II-A

241,697,000.00

231,460,639.05

170,814.42

6,036,804.78

0.00

225,253,019.85

25-Feb-36

N/A

M-1

32,836,000.00

0.00

32,836,000.00

25-Feb-36

N/A

M-2

26,127,000.00

0.00

26,127,000.00

25-Feb-36

N/A

M-3

15,888,000.00

0.00

15,888,000.00

25-Feb-36

N/A

M-4

13,770,000.00

0.00

13,770,000.00

25-Feb-36

N/A

M-5

13,064,000.00

0.00

13,064,000.00

25-Feb-36

N/A

M-6

12,004,000.00

0.00

12,004,000.00

25-Feb-36

N/A

M-7

10,945,000.00

0.00

10,945,000.00

25-Feb-36

N/A

M-8

9,886,000.00

0.00

9,886,000.00

25-Feb-36

N/A

M-9

8,121,000.00

0.00

8,121,000.00

25-Feb-36

N/A

M-10

8,827,000.00

0.00

8,827,000.00

25-Feb-36

N/A

706,145,220.18

685,686,817.11

0.00

669,875,822.16

25-Feb-36

N/A

100.00

0.00

100.00

25-Feb-36

N/A

R-1

0.00

25-Feb-36

N/A

R-II

0.00

25-Feb-36

N/A

R-III

0.00

25-Feb-36

N/A

0.00

25-Feb-36

N/A

R-IV

0.00

25-Feb-36

N/A

R-V

0.00

25-Feb-36

N/A

R-VI

0.00

25-Feb-36

N/A

Total

680,371,100.00

659,912,616.57

336,499.70

15,474,495.24

0.00

644,101,621.63

Ending

Class Balance

Rated

Final

Maturity

- Credit Support -

Class

Original Class

Balance

Beginning Class

Balance

Current

Losses

Distribution Date: 25-May-06

Bond Principal Reconciliation

Unscheduled

Principal
Payment

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Current

Original

Interest on

Losses

Scheduled Principal

Payment

Cumulative

Losses

- - - - - - - - - - - - - - - - Losses - - - - - - - - - - - - - - -

Extra

Principal
Payment

Prior
Loss

Reimburs.

24-May-2006 09:35

Page 12 of 51

Class

CUSIP

Fitch

Moody's

S&P

I-A-1

07387UEH0

Aaa

AAA

I-A-2

07387UEJ6

Aaa

AAA

I-A-3

07387UEK3

Aaa

AAA

II-A

07387UEL1

Aaa

AAA

M-1

07387UEM9

Aa1

AA+

M-2

07387UEN7

Aa2

M-3

07387UEP2

Aa3

AA-

M-4

07387UEQ0

A+

M-5

07387UER8

M-6

07387UES6

A-

M-7

07387UET4

Baa1

BBB+

M-8

07387UEU1

Baa2

BBB

M-9

07387UEV9

Baa3

BBB-

M-10

07387UEW7

Ba1

BB+

07387UEY3

07387UEX5

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

NR - Designates that the class was not rated by the rating agency.

(1)

Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be understood that this transmission will generally have been provided to LaSalle within 30 days of the payment

date listed on this statement. Because ratings may have changed during the 30 day window, or may not be being provided by the rating agency in an electronic format and therefore not being updated on this report, LaSalle recommends that investors obtain
current rating information directly from the rating agency.

- - - - - - - - - Original Ratings - - - - - - -

Fitch

Moody's

S&P

- - - - - - - - - - - - - - - - Ratings Change / Change Date

(1)

- - - - - - - - - - - - - - - - -

Distribution Date: 25-May-06

Ratings Information

24-May-2006 09:35

Page 13 of 51

Type

Count

Count (%)

Scheduled UPB

Sched UPB (%)

Arrears

Arrears (%)

REO Book Value

4732

93.4255%

642,079,785.06

94.9033%

0.00

0.0000%

0.00

161

3.1787%

20,446,825.68

3.0222%

0.00

0.0000%

0.00

1.3820%

7,995,171.53

1.1817%

0.00

0.0000%

0.00

90+

0.5133%

2,730,600.91

0.4036%

0.00

0.0000%

0.00

BKY0

0.0592%

287,625.40

0.0425%

0.00

0.0000%

0.00

BKY30

0.0197%

56,514.88

0.0084%

0.00

0.0000%

0.00

BKY60

0.0197%

133,866.23

0.0198%

0.00

0.0000%

0.00

BKY90+

0.0197%

112,149.83

0.0166%

0.00

0.0000%

0.00

F/C90+

0.4738%

2,719,537.52

0.4020%

0.00

0.0000%

0.00

PIF

0.9082%

0.00

0.0000%

0.00

0.0000%

0.00

Total (Prior Month End):

5065

100.0000%

676,562,077.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

284

5.6071%

34,194,666.00

5.0542%

0.00

0.0000%

0.00

2208

93.7978%

349,762,863.11

95.2754%

0.00

0.0000%

0.00

2.9737%

10,986,435.01

2.9927%

0.00

0.0000%

0.00

1.1895%

4,211,890.34

1.1473%

0.00

0.0000%

0.00

90+

0.4248%

713,357.25

0.1943%

0.00

0.0000%

0.00

BKY0

0.0425%

114,112.90

0.0311%

0.00

0.0000%

0.00

BKY60

0.0425%

133,866.23

0.0365%

0.00

0.0000%

0.00

BKY90+

0.0425%

112,149.83

0.0305%

0.00

0.0000%

0.00

F/C90+

0.3398%

1,072,398.46

0.2921%

0.00

0.0000%

0.00

PIF

1.1470%

0.00

0.0000%

0.00

0.0000%

0.00

Total (Prior Month End):

2354

100.0000%

367,107,073.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

118

5.0127%

17,230,097.00

4.6935%

0.00

0.0000%

0.00

F/C Quick Sale

Value

Total

Group 1

Distribution Date: 25-May-06

End of Month Balance Reporting

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

24-May-2006 09:35

Page 14 of 51

Type

Count

Count (%)

Scheduled UPB

Sched UPB (%)

Arrears

Arrears (%)

REO Book Value

F/C Quick Sale

Value

Distribution Date: 25-May-06

End of Month Balance Reporting

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

2524

93.1022%

292,316,921.95

94.4619%

0.00

0.0000%

0.00

3.3567%

9,460,390.67

3.0571%

0.00

0.0000%

0.00

1.5492%

3,783,281.19

1.2226%

0.00

0.0000%

0.00

90+

0.5902%

2,017,243.66

0.6519%

0.00

0.0000%

0.00

BKY0

0.0738%

173,512.50

0.0561%

0.00

0.0000%

0.00

BKY30

0.0369%

56,514.88

0.0183%

0.00

0.0000%

0.00

F/C90+

0.5902%

1,647,139.06

0.5323%

0.00

0.0000%

0.00

PIF

0.7008%

0.00

0.0000%

0.00

0.0000%

0.00

Total (Prior Month End):

2711

100.0000%

309,455,003.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

166

6.1232%

16,964,569.00

5.4821%

0.00

0.0000%

0.00

Total (Prior Month End):
Delinq Total (Prior Month End):

Group 2

24-May-2006 09:35

Page 15 of 51

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

25-May-06

4,690

635,902,035

160

20,389,105

7,544,387

2,730,601

590,156

2,719,538

25-Apr-06

4,851

660,584,612

134

16,560,116

8,024,063

113,000

405,027

27-Mar-06

4,985

677,675,184

152

19,655,425

414,387

56,588

25-May-06

94.29%

94.93%

3.22%

3.04%

1.37%

1.13%

0.52%

0.41%

0.12%

0.09%

0.48%

0.41%

0.00%

25-Apr-06

95.77%

96.34%

2.65%

2.42%

1.50%

1.17%

0.02%

0.06%

0.00%

27-Mar-06

96.98%

97.12%

2.96%

2.82%

0.04%

0.06%

0.00%

0.02%

0.01%

0.00%

Total (All Loans)

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

24-May-2006 09:35

Page 16 of 51

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

464

43,306,212

998,735

215,000

133,866

393,788

25-Apr-06

470

43,892,720

980,688

443,681

27-Mar-06

480

44,418,268

1,152,576

25-May-06

96.67%

96.13%

2.08%

2.22%

0.63%

0.48%

0.00%

0.21%

0.30%

0.42%

0.87%

0.00%

25-Apr-06

97.11%

96.86%

2.27%

2.16%

0.62%

0.98%

0.00%

27-Mar-06

98.36%

97.47%

1.64%

2.53%

0.00%

Group 1 Loans Fixed 1st Lien

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Group 1 Loans Fixed 1st Lien

24-May-2006 09:35

Page 17 of 51

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

237

15,015,304

203,817

191,197

125,714

25-Apr-06

243

15,498,353

228,789

145,356

27-Mar-06

249

16,057,671

170,381

25-May-06

96.34%

96.65%

1.22%

1.31%

1.63%

1.23%

0.81%

0.00%

25-Apr-06

97.20%

97.64%

1.60%

1.44%

1.20%

0.92%

0.00%

27-Mar-06

98.42%

98.95%

1.58%

1.05%

0.00%

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Group I Loans Fixed 2nd Lien

24-May-2006 09:35

Page 18 of 51

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

1,172

232,388,584

8,446,789

2,616,276

529,472

112,150

678,610

25-Apr-06

1,226

244,341,576

6,138,204

2,403,605

27-Mar-06

1,256

249,800,004

7,260,565

25-May-06

93.99%

94.94%

3.69%

3.45%

1.20%

1.07%

0.56%

0.22%

0.08%

0.05%

0.48%

0.28%

0.00%

25-Apr-06

95.71%

96.62%

2.58%

2.43%

1.72%

0.95%

0.00%

27-Mar-06

96.69%

97.18%

3.31%

2.82%

0.00%

Group I Loans 228 ARM

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

24-May-2006 09:35

Page 19 of 51

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

315

56,023,135

1,337,094

738,633

58,171

114,113

25-Apr-06

326

57,772,466

1,276,728

107,870

27-Mar-06

338

59,234,680

1,154,165

25-May-06

94.88%

96.14%

3.31%

2.29%

1.20%

1.27%

0.30%

0.10%

0.30%

0.20%

0.00%

25-Apr-06

96.17%

97.66%

3.24%

2.16%

0.59%

0.18%

0.00%

27-Mar-06

98.54%

98.09%

1.46%

1.91%

0.00%

Group I Loans 327 ARM

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

24-May-2006 09:35

Page 20 of 51

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

510

47,256,471

991,158

205,747

214,307

25-Apr-06

519

48,317,274

773,698

320,086

27-Mar-06

524

48,500,066

1,050,905

25-May-06

96.41%

97.10%

2.08%

2.04%

0.76%

0.42%

0.76%

0.44%

0.00%

25-Apr-06

96.83%

97.79%

2.05%

1.57%

1.12%

0.65%

0.00%

27-Mar-06

97.40%

97.88%

2.60%

2.12%

0.00%

Group II Loans Fixed 1st Lien

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Group II Loans Fixed 1st Lien

24-May-2006 09:35

Page 21 of 51

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

144

4,999,611

25,343

54,865

25-Apr-06

143

4,915,662

112,153

54,893

27-Mar-06

149

5,155,649

54,920

25-May-06

98.63%

98.42%

0.68%

0.50%

0.00%

0.68%

1.08%

0.00%

25-Apr-06

97.95%

96.71%

1.37%

2.21%

0.68%

1.08%

0.00%

27-Mar-06

99.33%

98.95%

0.67%

1.05%

0.00%

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Group II Loans Fixed 2nd Lien

24-May-2006 09:35

Page 22 of 51

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

1,453

176,349,271

7,041,759

3,402,305

1,570,209

230,027

1,593,394

25-Apr-06

1,518

183,587,222

6,340,421

4,258,710

113,000

405,027

27-Mar-06

1,573

191,098,492

8,002,817

113,000

56,588

25-May-06

91.73%

92.72%

4.42%

3.70%

2.21%

1.79%

0.51%

0.83%

0.19%

0.12%

0.95%

0.84%

0.00%

25-Apr-06

94.23%

94.29%

3.41%

3.26%

2.11%

2.19%

0.06%

0.19%

0.21%

0.00%

27-Mar-06

95.80%

95.90%

4.08%

4.02%

0.06%

0.00%

0.06%

0.03%

0.00%

Group II Loans 228 ARM

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

24-May-2006 09:35

Page 23 of 51

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

395

60,563,448

1,344,411

175,229

177,863

53,745

25-Apr-06

406

62,259,339

709,434

289,863

27-Mar-06

416

63,410,354

809,096

301,387

25-May-06

96.34%

97.19%

1.95%

2.16%

0.73%

0.28%

0.73%

0.29%

0.00%

0.24%

0.09%

0.00%

25-Apr-06

97.13%

98.42%

1.67%

1.12%

1.20%

0.46%

0.00%

27-Mar-06

97.42%

98.28%

2.34%

1.25%

0.23%

0.47%

0.00%

Group II Loans 327 ARM

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

24-May-2006 09:35

Page 24 of 51

Balance

25-May-06

2,719,538

287,625

56,515

133,866

112,150

25-Apr-06

179,886

225,141

27-Mar-06

56,588

25-May-06

0.00%

0.48%

0.41%

0.00%

0.06%

0.04%

0.02%

0.01%

0.02%

25-Apr-06

0.00%

0.04%

0.03%

0.00%

0.02%

0.03%

0.00%

27-Mar-06

0.00%

0.02%

0.01%

0.00%

61-90 Days

90 + Days

Total (All Loans)

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

24-May-2006 09:35

Page 25 of 51

Balance

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

393,788

133,866

25-Apr-06

27-Mar-06

25-May-06

0.00%

0.42%

0.87%

0.00%

0.21%

0.30%

0.00%

25-Apr-06

0.00%

27-Mar-06

0.00%

Group 1 Loans Fixed 1st Lien

24-May-2006 09:35

Page 26 of 51

Balance

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

25-Apr-06

27-Mar-06

25-May-06

0.00%

25-Apr-06

0.00%

27-Mar-06

0.00%

Group I Loans Fixed 2nd Lien

24-May-2006 09:35

Page 27 of 51

Balance

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

678,610

112,150

25-Apr-06

27-Mar-06

25-May-06

0.00%

0.48%

0.28%

0.00%

0.08%

0.05%

25-Apr-06

0.00%

27-Mar-06

0.00%

Group I Loans 228 ARM

24-May-2006 09:35

Page 28 of 51

Balance

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

114,113

25-Apr-06

27-Mar-06

25-May-06

0.00%

0.30%

0.20%

0.00%

25-Apr-06

0.00%

27-Mar-06

0.00%

Group I Loans 327 ARM

24-May-2006 09:35

Page 29 of 51

Balance

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

25-Apr-06

27-Mar-06

25-May-06

0.00%

25-Apr-06

0.00%

27-Mar-06

0.00%

Group II Loans Fixed 1st Lien

24-May-2006 09:35

Page 30 of 51

Balance

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

25-Apr-06

27-Mar-06

25-May-06

0.00%

25-Apr-06

0.00%

27-Mar-06

0.00%

Group II Loans Fixed 2nd Lien

24-May-2006 09:35

Page 31 of 51

Balance

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

1,593,394

173,513

56,515

25-Apr-06

179,886

225,141

27-Mar-06

56,588

25-May-06

0.00%

0.95%

0.84%

0.00%

0.13%

0.09%

0.06%

0.03%

0.00%

25-Apr-06

0.00%

0.12%

0.09%

0.00%

0.06%

0.12%

0.00%

27-Mar-06

0.00%

0.06%

0.03%

0.00%

Group II Loans 228 ARM

24-May-2006 09:35

Page 32 of 51

Balance

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

53,745

25-Apr-06

27-Mar-06

25-May-06

0.00%

0.24%

0.09%

0.00%

25-Apr-06

0.00%

27-Mar-06

0.00%

Group II Loans 327 ARM

24-May-2006 09:35

Page 33 of 51

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

25-May-06

4,974

669,875,822

15,451,975

0.00

113

7.73%

7.22%

25-Apr-06

5,065

685,686,817

11,732,398

0.00

116

7.73%

7.23%

27-Mar-06

5,140

697,801,583

7,928,846

0.00

118

7.73%

7.23%

25-May-06

480

45,047,601

221,845

0.00

112

7.53%

7.03%

25-Apr-06

484

45,317,089

208,141

0.00

113

7.53%

7.03%

27-Mar-06

488

45,570,844

421,497

0.00

114

7.53%

7.03%

Curr Weighted Avg.

Total (All Loans)

Group 1 Loans Fixed 1st Lien

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

24-May-2006 09:35

Page 34 of 51

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

Curr Weighted Avg.

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

246

15,536,032

327,391

0.00

10.42%

9.91%

25-Apr-06

250

15,872,498

345,979

0.00

10.42%

9.91%

27-Mar-06

253

16,228,051

168,253

0.00

10.42%

9.92%

25-May-06

1,247

244,771,882

8,018,178

0.00

114

7.68%

7.17%

25-Apr-06

1,281

252,883,385

4,078,698

0.00

119

7.68%

7.18%

27-Mar-06

1,299

257,060,569

2,317,691

0.00

121

7.68%

7.17%

Group I Loans Fixed 2nd Lien

Group I Loans 228 ARM

24-May-2006 09:35

Page 35 of 51

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

Curr Weighted Avg.

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

332

58,271,145

855,375

0.00

115

7.36%

6.86%

25-Apr-06

339

59,157,064

1,195,556

0.00

117

7.40%

6.89%

27-Mar-06

343

60,388,845

1,089,407

0.00

120

7.41%

6.90%

25-May-06

529

48,667,682

694,660

0.00

110

7.70%

7.19%

25-Apr-06

536

49,411,058

89,827

0.00

112

7.70%

7.20%

27-Mar-06

538

49,550,971

108,094

0.00

113

7.70%

7.20%

Group II Loans Fixed 1st Lien

Group I Loans 327 ARM

24-May-2006 09:35

Page 36 of 51

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

Curr Weighted Avg.

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

146

5,079,819

0.00

10.18%

9.67%

25-Apr-06

146

5,082,707

123,720

0.00

10.18%

9.67%

27-Mar-06

150

5,210,569

21,335

0.00

10.18%

9.67%

25-May-06

1,584

190,186,965

4,412,179

0.00

115

7.84%

7.34%

25-Apr-06

1,611

194,704,380

4,454,455

0.00

118

7.85%

7.34%

27-Mar-06

1,642

199,270,896

3,451,551

0.00

121

7.85%

7.34%

Group II Loans Fixed 2nd Lien

Group II Loans 228 ARM

24-May-2006 09:35

Page 37 of 51

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

Curr Weighted Avg.

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-May-06

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

25-May-06

410

62,314,697

922,346

0.00

116

7.19%

6.68%

25-Apr-06

418

63,258,636

1,236,022

0.00

118

7.18%

6.68%

27-Mar-06

427

64,520,837

351,018

0.00

120

7.19%

6.68%

Group II Loans 327 ARM

24-May-2006 09:35

Page 38 of 51

SMM (Single Monthly Mortality)

Total

Current Period

2.25%

3-Month Average

1.69%

6-Month Average

1.69%

12-Month Average

1.69%

Average Since Cut-Off

1.69%

CPR (Conditional Prepayment Rate)

Total

Current Period

23.94%

3-Month Average

18.34%

6-Month Average

18.34%

12-Month Average

18.34%

Average Since Cut-Off

18.34%

PSA (Public Securities Association)

Total

Current Period

399%

3-Month Average

306%

6-Month Average

306%

12-Month Average

306%

Average Since Cut-Off

306%

SMM

Single Monthly Mortality

(Partial and Full Prepayments + Repurchases + Liquidations) / (Beginning Collateral Balance - Scheduled Principal)

CPR

Conditional Prepayment Rate

1 - (1 - SMM)^12)

PSA

Public Securities Association

100 * CPR / (0.2 * MIN(30,WAS))

WAS

Weighted Average Seasoning

(Original Term - Remaining Term) * (Current Scheduled Balance / Deal Scheduled Principal Balance)

Distribution Date: 25-May-06

Prepayment Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

0.00%

0.39%

0.77%

1.16%

1.54%

1.93%

2.31%

2.70%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

0.00%

3.83%

7.66%

11.49%

15.31%

19.14%

22.97%

26.80%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

57%

114%

171%

229%

286%

343%

400%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

24-May-2006 09:35

Page 39 of 51

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

11,000

50,000

594

11.94%

24,878,000

3.71%

11,000

50,000

591

11.39%

24,679,595

3.49%

50,000

57,000

1,177

23.66%

62,702,983

9.36%

50,000

58,000

1,350

26.01%

72,504,200

10.27%

57,000

64,000

462

9.29%

27,139,688

4.05%

58,000

66,000

396

7.63%

23,672,097

3.35%

64,000

71,000

1.61%

5,371,764

0.80%

66,000

74,000

1.64%

5,959,232

0.84%

71,000

78,000

1.63%

5,998,240

0.90%

74,000

82,000

105

2.02%

8,186,677

1.16%

78,000

85,000

1.87%

7,570,339

1.13%

82,000

88,000

1.50%

6,642,691

0.94%

85,000

128,000

593

11.92%

63,306,129

9.45%

88,000

130,000

603

11.62%

65,693,998

9.30%

128,000

171,000

511

10.27%

75,596,205

11.29%

130,000

172,000

528

10.17%

78,964,863

11.18%

171,000

214,000

413

8.30%

79,081,843

11.81%

172,000

214,000

427

8.23%

82,056,909

11.62%

214,000

257,000

281

5.65%

65,926,497

9.84%

214,000

256,000

295

5.68%

69,266,901

9.81%

257,000

299,000

190

3.82%

52,523,249

7.84%

256,000

300,000

213

4.10%

59,130,945

8.37%

299,000

990,000

499

10.03%

199,780,885

29.82%

300,000

990,000

519

10.00%

209,387,111

29.65%

4,974

100.00%

669,875,822

100.00%

5,190

100.00%

706,145,220

100.00%

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

4.50%

6.53%

495

9.95%

112,335,181

16.77%

4.50%

6.55%

511

9.85%

116,206,931

16.46%

6.53%

6.83%

275

5.53%

53,882,038

8.04%

6.55%

6.84%

290

5.59%

56,806,041

8.04%

6.83%

7.13%

402

8.08%

73,905,531

11.03%

6.84%

7.14%

421

8.11%

78,827,800

11.16%

7.13%

7.42%

332

6.67%

54,000,815

8.06%

7.14%

7.44%

340

6.55%

54,641,470

7.74%

7.42%

7.72%

425

8.54%

60,419,475

9.02%

7.44%

7.73%

450

8.67%

64,051,362

9.07%

7.72%

8.05%

566

11.38%

79,338,685

11.84%

7.73%

8.05%

584

11.25%

83,924,175

11.88%

8.05%

8.41%

445

8.95%

51,879,102

7.74%

8.05%

8.41%

460

8.86%

54,253,263

7.68%

8.41%

8.77%

528

10.62%

53,199,257

7.94%

8.41%

8.77%

545

10.50%

56,672,270

8.03%

8.77%

9.13%

377

7.58%

37,217,895

5.56%

8.77%

9.13%

398

7.67%

40,173,981

5.69%

9.13%

9.48%

311

6.25%

27,768,699

4.15%

9.13%

9.48%

319

6.15%

28,875,935

4.09%

9.48%

9.89%

319

6.41%

30,266,950

4.52%

9.48%

9.89%

339

6.53%

33,158,549

4.70%

9.89%

13.73%

499

10.03%

35,662,194

5.32%

9.89%

13.73%

533

10.27%

38,553,442

5.46%

4,974

100.00%

669,875,822

100.00%

5,190

100.00%

706,145,220

100.00%

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

Mortgage Loan Characteristics Part I

Distribution by Current Ending Principal Balance

Distribution by Current Mortgage Rate

Distribution by Cut-off Principal Balance

Distribution by Original Mortgage Rate

24-May-2006 09:35

Page 40 of 51

2,831

434,958,847

64.93%

353.22

7.73%

2,976

462,325,181

65.47%

359.83

7.75%

742

120,585,842

18.00%

352.40

7.27%

776

126,415,220

17.90%

359.27

7.29%

1,009

93,715,283

13.99%

335.60

7.62%

1,031

95,764,809

13.56%

342.66

7.62%

392

20,615,850

3.08%

212.81

10.36%

407

21,640,010

3.06%

217.85

10.36%

4,974

669,875,822

100.00%

5,190

706,145,220

100.00%

3,993

513,916,069

76.72%

346.37

7.71%

4,156

539,669,917

76.42%

353.15

7.73%

477

86,396,513

12.90%

346.39

7.63%

501

92,186,732

13.05%

353.23

7.63%

275

40,462,562

6.04%

345.17

7.73%

294

43,822,650

6.21%

351.90

7.75%

226

28,830,362

4.30%

346.08

8.04%

236

30,195,428

4.28%

352.61

8.09%

270,316

0.04%

335.53

8.85%

270,494

0.04%

341.60

8.85%

4,974

669,875,822

100.00%

5,190

706,145,220

100.00%

SF Unattached Dwelling

PUD

Condo - High Facility

Multifamily

SF Attached Dwelling

Total

SF Unattached Dwelling

PUD

Condo - High Facility

Multifamily

SF Attached Dwelling

Total

WAMM

WAC

228 ARM
327 ARM

Fixed 1st Lien

Fixed 2nd Lien

Property Type

# of Loans

Ending Scheduled

Balance

% of

Balance

Property Type

# of

Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

# of

Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

Distribution by Product Characteristics (Current)

Mortgage Loan Characteristics Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

WAMM

WAC

Distribution by Product Characteristics (Cut-off)

Product Type

# of Loans

Original Principal

Balance

% of

Balance

Product Type

Distribution by Property Types (Current)

Total

Distribution by Property Types (Cut-off)

228 ARM
327 ARM

Fixed 1st Lien

Fixed 2nd Lien

24-May-2006 09:35

Page 41 of 51

Mortgage Loan Characteristics Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

4,031

596,943,662

89.11%

345.91

7.63%

4,202

629,124,652

89.09%

352.65

7.65%

893

67,489,741

10.07%

349.07

8.41%

934

71,334,164

10.10%

356.24

8.41%

5,442,420

0.81%

352.77

8.62%

5,686,404

0.81%

357.51

8.61%

4,974

669,875,822

100.00%

5,190

706,145,220

100.00%

2,408

370,817,342

55.36%

348.61

7.57%

2,549

398,120,476

56.38%

355.39

7.60%

2,314

269,487,257

40.23%

343.57

7.91%

2,382

277,464,600

39.29%

350.14

7.93%

252

29,571,223

4.41%

341.92

7.77%

259

30,560,144

4.33%

349.05

7.79%

4,974

669,875,822

100.00%

5,190

706,145,220

100.00%

Total

Refinance/Equity Takeout

Purchase

Refinance/No Cash Out

Total

Distribution by Loan Purpose (Cut-off)

Loan Purpose

# of Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

Refinance/No Cash Out

WAMM

WAC

Refinance/Equity Takeout

Purchase

Loan Purpose

# of

Loans

Ending Scheduled

Balance

% of

Balance

Total

Distribution by Loan Purpose (Current)

Total

Owner Occupied - Secondary Residence

Distribution by Occupancy Type (Cut-off)

Occupancy Type

# of Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

Owner Occupied - Primary Residence

Non-Owner Occupied

Owner Occupied - Primary Residence

Non-Owner Occupied

Owner Occupied - Secondary Residence

Distribution by Occupancy Type (Current)

Occupancy Type

# of

Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

24-May-2006 09:35

Page 42 of 51

Mortgage Loan Characteristics Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

4,974

669,875,822

100.00%

346.28

7.72%

5,190

706,145,220

100.00%

353.05

7.73%

Distribution by Originator Concentration > 10% (Current)

Distribution by Originator Concentration > 10% (Cut-off)

Originator

# of

Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

Originator

# of Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

24-May-2006 09:35

Page 43 of 51

WAMM

WAC

California

653

181,259,349

27.06%

344

7.17%

Florida

361

51,126,142

7.63%

347

7.81%

Georgia

301

38,864,561

5.80%

347

8.24%

Maryland

190

37,684,366

5.63%

351

7.42%

Minnesota

178

29,929,538

4.47%

352

7.89%

Michigan

339

25,206,544

3.76%

348

8.24%

Ohio

329

23,646,990

3.53%

341

7.94%

Illinois

185

23,179,551

3.46%

349

7.99%

Texas

285

22,015,833

3.29%

338

8.18%

Arizona

148

21,359,942

3.19%

346

7.54%

Remaining

2,005

215,603,007

32.19%

347

7.94%

WAMM

WAC

California

701

194,727,618

27.58%

350

7.21%

Florida

381

53,783,571

7.62%

354

7.80%

Maryland

208

41,140,529

5.83%

358

7.48%

Georgia

312

40,430,366

5.73%

354

8.27%

Minnesota

181

30,352,472

4.30%

358

7.92%

Michigan

350

25,905,896

3.67%

356

8.24%

Illinois

199

25,582,702

3.62%

356

8.03%

Ohio

339

24,267,972

3.44%

349

7.95%

Arizona

162

23,493,029

3.33%

352

7.50%

Texas

287

22,196,347

3.14%

345

8.18%

Remaining

2,070

224,264,717

31.76%

354

7.96%

(1)

Based on Current Period Ending Principal Balance

Top 10 Original State Concentration

Geographic Distribution

# of

Loans

Scheduled
Balance

(1)

% of

Balance

Top 10 Current State Concentration

Geographic Distribution

# of

Loans

Scheduled
Balance

(1)

% of

Balance

Distribution Date: 25-May-06

Geographic Concentration

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Top 10 Current State Concentration

California

Maryland

Georgia

Florida

Arizona

Texas

Illinois

Ohio

Michigan

Minnesota

Remaining

24-May-2006 09:35

Page 44 of 51

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

- - - - - - - - - - - - - - - - - Current Realized Loss - - - - - - - - - - - - - - - - -

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

Historical Realized Loss Summary

Recovery on Prior

Liquidations

Claims on Prior Liquidations

(Claims)/Recoveries on

Prior Payoffs

- - - - - - - - - - - - - - Previous Liquidations/Payoffs - - - - - - - - - - - - - -

24-May-2006 09:35

Page 45 of 51

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

Historical Realized Loss Summary

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

- - - - - - - - - - - - - - - - - Current Realized Loss - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - Previous Liquidations/Payoffs - - - - - - - - - - - - - -

Claims on Prior Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

24-May-2006 09:35

Page 46 of 51

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

Historical Realized Loss Summary

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

Claims on Prior Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

- - - - - - - - - - - - - - - - - Current Realized Loss - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - Previous Liquidations/Payoffs - - - - - - - - - - - - - -

24-May-2006 09:35

Page 47 of 51

C
M
N
O
P

REO
Short Pay
Third Party
Write-off

R
S
T
W

1
2
3
4
5

6
7
8
9

Distribution Date: 25-May-06

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Adjustment Legend
Escrow Bal/Adv
MREC
Rest'd Escrow
Replacement Res.
Suspense

Third Party
Charged Off/Matured
Side Note
Manual

Liq. Type Code - Legend
Charge-off
Matured
Repurchase
Note Sale
Paid in Full

Current Period Realized Loss Detail

Loss-Certs Non-

adjusted

Subsequent

Recov/(Exp)

Original Liquidation

Balance

Adj Type

Liq Type

Loss-Certs

Adjusted

Loss-Loan

Adjusted

Net Liquidation

Proceeds

Disclosure Control #

Period

Loss to Trust

Loss-Loan Non-

adjusted

24-May-2006 09:35

Page 48 of 51

MDR (monthly Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

CDR (Conditional Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

SDA (Standard Default Assumption)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

MDR

Monthly Default Rate

(Beginning Principal Balance of Liquidated Loans) / (Total Beginning Principal Balance)

CDR

Conditional Default Rate

1 - (1 - MDR)^

SDA

Standard Default Assumption

If WAS=30 then CDR/(WAS*0.02) else if 30<WAS=60 then CDR/0.6 else if 60<WAS=120 then CDR/(0.6-((WAS-60)*0.0095)) else if WAS>120 then CDR/0.03

WAS

Weighted Average Seasoning

(Original Term - Remaining Term) * (Current Scheduled Balance / Deal Scheduled Principal Balance)

Distribution Date: 25-May-06

Realized Loss Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

20%

40%

60%

80%

100%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

24-May-2006 09:35

Page 49 of 51

Material breaches of pool asset representation or warranties or transaction covenants.

Material Breach Description

Disclosure Control

Loan Group #

Ending Principal

Balance

Material Breach

Date

Distribution Date: 25-May-06

Material Breaches Detail

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

24-May-2006 09:35

Page 50 of 51

Modifications include any extensions or waivers to the mortgage loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time.

Modification Description

Disclosure Control

Loan Group #

Modified Maturity

Date

Cutoff Maturity

Date

Distribution Date: 25-May-06

Modified Loan Detail

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

24-May-2006 09:35

Page 51 of 51

Bear Stearns Asset Backed Securities I Trust 2006-HE2 10-D