Content:

Pages

Contact Information:

Statement to Certificate Holders

Analyst:

Mark Joyner

714.259.6220

Statement to Certificate Holders (Factors)

mark.joyner@abnamro.com

Pool/Non-Pool Funds Cash Reconciliation

Administrator:

Amanda Hellyer

312.904.6299

Cash Reconciliation Summary

amanda.hellyer@abnamro.com

Pool Detail and Performance Indicators

LaSalle Website:

www.etrustee.net

Bond Interest Reconciliation Part I

Bond Interest Reconciliation Part II

Bond Principal Reconciliation

Outside Parties To The Transaction

Rating Information

End of Month Balance Reporting

15 Month Loan Status Summary Part I

12-14

15 Month Loan Status Summary Part II

15-17

15 Month Historical Payoff Summary

18-20

Prepayment Summary

Historical Realized Loss Summary

Current Period Realized Loss Detail

Realized Loss Summary

Material Breaches Detail

Modified Loan Detail

Determination

Date:

14-Apr-06

First Pay. Date:

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

25-Apr-06

Trustee: Citibank, N.A.

Rated Final

Payment Date:

25-Apr-36

Underwriter: Bear Stearns & Co. Inc.

Closing Date:

30-Mar-06

Master Servicer: ABN AMRO LaSalle Bank N.A.

Record Date:

24-Apr-06

Issuer: Bear Stearns & Co. Inc.

Distribution Count:

Depositor: Bear Stearns Asset Backed Securities I LLC

Prior Payment:

Next Payment:

25-May-06

ABN AMRO Acct : 723531.1

Payment Date:

25-Apr-06

Distribution Date: 25-Apr-06

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-2006 10:17

A-1

07387UHP9

396,254,000.00

14,033,302.84

0.00

382,220,697.16

1,403,014.34

0.00

4.9025000000%

A-2

07387UHQ7

171,485,000.00

0.00

171,485,000.00

619,561.01

0.00

5.0025000000%

A-3

07387UHR5

24,954,000.00

0.00

24,954,000.00

91,958.96

0.00

5.1025000000%

M-1

07387UHS3

38,481,000.00

0.00

38,481,000.00

144,031.18

0.00

5.1825000000%

M-2

07387UHT1

30,150,000.00

0.00

30,150,000.00

113,284.44

0.00

5.2025000000%

M-3

07387UHU8

18,646,000.00

0.00

18,646,000.00

70,194.42

0.00

5.2125000000%

M-4

07387UHV6

16,265,000.00

0.00

16,265,000.00

62,640.58

0.00

5.3325000000%

M-5

07387UHW4

15,075,000.00

0.00

15,075,000.00

58,493.09

0.00

5.3725000000%

M-6

07387UHX2

13,488,000.00

0.00

13,488,000.00

53,017.21

0.00

5.4425000000%

M-7

07387UHY0

13,092,000.00

0.00

13,092,000.00

56,471.98

0.00

5.9725000000%

M-8

07387UHZ7

11,505,000.00

0.00

11,505,000.00

51,703.79

0.00

6.2225000000%

M-9

07387UJA0

9,124,000.00

0.00

9,124,000.00

46,604.63

0.00

7.0725000000%

M-10

07387UJB8

10,315,000.00

0.00

10,315,000.00

52,688.16

0.00

7.0725000000%

07387UJD4

793,431,579.99 N

793,431,579.99

0.00

779,397,076.14

2,098,146.62

12,893.26

N/A

07387UJC6

100.00

0.00

100.00

186,080.79

N/A

R-1

07387UJE2

0.00

N/A

R-2

07387UJF9

0.00

N/A

R-3

07387UJG7

0.00

N/A

07387UJH5

0.00

N/A

Total

768,834,100.00

14,033,302.84

0.00

754,800,797.16

5,107,891.20

198,974.05

Total P&I Payment

19,141,194.04

(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

Distribution Date: 25-Apr-06

Pass-Through

Rate

Deferred Interest

Ending Certificate

Balance

Interest Payment

(2)

Interest

Adjustment

Bond Payments

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

Current Realized

Loss

Class

CUSIP

Beginning

Certificate Balance

Principal Payment

Original Face Value

(1)

25-Apr-2006 10:17

Page 2 of 26

A-1

07387UHP9

396,254,000.00

1000.000000000

35.414917805

0.000000000

964.585082195

3.540694454

0.000000000

5.03938000%

A-2

07387UHQ7

171,485,000.00

1000.000000000

0.000000000

1000.000000000

3.612916640

0.000000000

5.13938000%

A-3

07387UHR5

24,954,000.00

1000.000000000

0.000000000

1000.000000000

3.685139056

0.000000000

5.23938000%

M-1

07387UHS3

38,481,000.00

1000.000000000

0.000000000

1000.000000000

3.742916764

0.000000000

5.31938000%

M-2

07387UHT1

30,150,000.00

1000.000000000

0.000000000

1000.000000000

3.757361194

0.000000000

5.33938000%

M-3

07387UHU8

18,646,000.00

1000.000000000

0.000000000

1000.000000000

3.764583289

0.000000000

5.34938000%

M-4

07387UHV6

16,265,000.00

1000.000000000

0.000000000

1000.000000000

3.851249923

0.000000000

5.46938000%

M-5

07387UHW4

15,075,000.00

1000.000000000

0.000000000

1000.000000000

3.880138640

0.000000000

5.50938000%

M-6

07387UHX2

13,488,000.00

1000.000000000

0.000000000

1000.000000000

3.930694692

0.000000000

5.57938000%

M-7

07387UHY0

13,092,000.00

1000.000000000

0.000000000

1000.000000000

4.313472350

0.000000000

6.10938000%

M-8

07387UHZ7

11,505,000.00

1000.000000000

0.000000000

1000.000000000

4.494027814

0.000000000

6.35938000%

M-9

07387UJA0

9,124,000.00

1000.000000000

0.000000000

1000.000000000

5.107916484

0.000000000

7.20938000%

M-10

07387UJB8

10,315,000.00

1000.000000000

0.000000000

1000.000000000

5.107916626

0.000000000

7.20938000%

07387UJD4

793,431,579.99 N

1000.000000000

0.000000000

982.311639461

2.644395148

0.016249996

N/A

07387UJC6

100.00

1000.000000000

0.000000000

1000.000000000

1860807.900000000

N/A

R-1

07387UJE2

0.00

0.000000000

N/A

R-2

07387UJF9

0.00

0.000000000

N/A

R-3

07387UJG7

0.00

0.000000000

N/A

07387UJH5

0.00

0.000000000

N/A

Bond Payments

Current Realized

Loss *

Original Face

Value

Class

CUSIP

Beginning Certificate

Balance *

Principal Payment

Series 2006-HE3

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-Apr-06

25-Apr-2006 10:17

Page 3 of 26

Interest Summary

Principal Summary

Reserve Fund

Interest Summary

Principal Summary

Deposit to Trust

5,000.00

Scheduled Interest

5,246,908.13

Scheduled Prin Distribution

324,981.14

Withdrawal from Trust

0.00

Fees

339,192.00

Curtailments

47,500.27

Reimbursement from Waterfall

0.00

Remittance Interest

4,907,716.13

Prepayments in Full

13,662,022.44

Ending Balance

5,000.00

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

0.00

Prepayment Penalties

186,080.79

Repurchase Proceeds

0.00

Yield Maintenance Agreement

Other Interest Loss

0.00

Other Principal Proceeds

0.00

Other Interest Proceeds

0.00

Remittance Principal

14,034,503.85

Amt Received Under the Yield Main. Agreement

12,893.26

Non-advancing Interest

0.00

Net PPIS/Relief Act Shortfall

0.00

Swap Agreement

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

186,080.79

Net Swap payment payable to the Swap

Interest Adjusted

5,093,796.92

Administrator

0.00

Fee Summary

Net Swap payment payable to the Swap Provider

0.00

Total Servicing Fees

339,192.00

Total Trustee Fees

0.00

Swap Termination payment payable to the Swap

LPMI Fees

0.00

Administrator

0.00

Credit Manager's Fees

0.00

Swap Termination payment payable to the Swap

0.00

Misc. Fees / Trust Expense

0.00

Provider

Insurance Premium

0.00

Total Fees

339,192.00

Advances (Principal & Interest)

Prior Month's Outstanding Advances

0.00

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

4,699,361.43

P&I Due Certificate Holders

19,141,194.03

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-Apr-06

Cash Reconciliation Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-2006 10:17

Page 4 of 26

Fixed 1st Lien

Fixed 2nd Lien

228 ARM

327 ARM

Total

Interest Summary

Scheduled Interest

497,395.94

189,292.39

4,305,574.81

254,645.00

5,246,908.13

Fees

33,624.15

8,921.58

279,172.70

17,473.58

339,192.00

Remittance Interest

463,771.79

180,370.81

4,026,402.10

237,171.42

4,907,716.13

Other Interest Proceeds/Shortfalls

Prepayment Penalties

1,059.83

9,759.09

171,698.76

3,563.11

186,080.79

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

1,059.83

9,759.09

171,698.76

3,563.11

186,080.79

Interest Adjusted

464,831.62

190,129.90

4,198,100.86

240,734.53

5,093,796.92

Principal Summary

Scheduled Principal Distribution

56,108.40

10,558.02

243,427.98

14,886.74

324,981.14

Curtailments

5,015.72

3,291.65

38,656.91

535.99

47,500.27

Prepayments in Full

324,257.35

434,548.65

12,786,316.44

116,900.00

13,662,022.44

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

385,381.47

448,398.32

13,068,401.33

132,322.73

14,034,503.85

Fee Summary

Total Servicing Fees

33,624.15

8,921.58

279,172.70

17,473.58

339,192.00

Total Trustee Fees

0.00

LPMI Fees

0.00

Total Fees

33,624.15

8,921.58

279,172.70

17,473.58

339,192.00

Beginning Principal Balance

78,652,970.79

20,869,185.59

653,035,559.59

40,873,864.02

793,431,579.99

Ending Principal Balance

78,267,589.32

20,420,787.27

639,967,158.26

40,741,541.29

779,397,076.14

Distribution Date: 25-Apr-06

Cash Reconciliation Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-2006 10:17

Page 5 of 26

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Original Pool Balance

793,431,579.99

3,999

3 mo. Rolling Average

279,616.76

779,397,076

0.04%

WAC - Current

7.77%

7.37%

7.42%

Cum Scheduled Principal

324,981.14

6 mo. Rolling Average

279,616.76

779,397,076

0.04%

WAC - Original

7.77%

7.37%

7.42%

Cum Unscheduled Principal

13,709,522.71

12 mo. Rolling Average

279,616.76

779,397,076

0.04%

WAL - Current

320.05

355.71

351.19

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAL - Original

320.05

355.71

351.19

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

793,431,579.99

3,999

100.00%

Scheduled Principal

324,981.14

0.04%

Triggers

Unscheduled Principal

13,709,522.71

1.73%

Deferred Interest

0.00

0.00%

> Delinquency Trigger Event

(2)

Liquidations

0.00

0.00%

Delinquency Event Calc

(1)

279,616.76

779,397,076

0.04%

Repurchases

0.00

0.00%

Ending Pool

779,397,076.14

3,938

98.23%

> Loss Trigger Event?

(3)

Average Loan Balance

197,916.98

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)

25.76%

Cut-off LTV

80.75%

Step Down %

(5)

50.60%

Cash Out/Refinance

N/A

Credit Enhancement

Amount

% of Current Specified Enhancement %

(6)

31.50%

SFR

69.98%

Original OC

24,597,579.99

3.10%

> Step Down Date?

Target OC

24,596,378.98

3.10%

Min

Max

Beginning OC

24,597,579.99

Extra Principal

0.00

FICO

500

809

612.64

OC Amount per PSA

24,597,579.99

3.10%

Cumulative Extra Principal

0.00

Ending OC

24,596,378.98

OC Release

1,201.01

Mezz Certificates

176,141,000.00 22.20%

Legend: (1) 60 Days+, REO, 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

734,097,779.45

92.52%

Balance

640,682,532.95

N/A

555,248,925.17

Misc/Additional Information

Pool Level Information

4.822500%

4.959380%

Distribution Date: 25-Apr-06

Pool Detail and Performance Indicators Total (All Loans)

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-2006 10:17

Page 6 of 26

A-1

Act/360

396,254,000.00

4.902500000%

1,403,014.34

0.00

1,403,014.34

0.00

A-2

Act/360

171,485,000.00

5.002500000%

619,561.01

0.00

619,561.01

0.00

A-3

Act/360

24,954,000.00

5.102500000%

91,958.96

0.00

91,958.96

0.00

M-1

Act/360

38,481,000.00

5.182500000%

144,031.18

0.00

144,031.18

0.00

M-2

Act/360

30,150,000.00

5.202500000%

113,284.44

0.00

113,284.44

0.00

M-3

Act/360

18,646,000.00

5.212500000%

70,194.42

0.00

70,194.42

0.00

M-4

Act/360

16,265,000.00

5.332500000%

62,640.58

0.00

62,640.58

0.00

M-5

Act/360

15,075,000.00

5.372500000%

58,493.09

0.00

58,493.09

0.00

M-6

Act/360

13,488,000.00

5.442500000%

53,017.21

0.00

53,017.21

0.00

M-7

Act/360

13,092,000.00

5.972500000%

56,471.98

0.00

56,471.98

0.00

M-8

Act/360

11,505,000.00

6.222500000%

51,703.79

0.00

51,703.79

0.00

M-9

Act/360

9,124,000.00

7.072500000%

46,604.63

0.00

46,604.63

0.00

M-10

Act/360

10,315,000.00

7.072500000%

52,688.16

0.00

52,688.16

0.00

30/360

793,431,579.99

N/A

2,085,253.36

12,893.26

0.00

2,098,146.62

0.00

100.00

N/A

0.00

186,080.79

0.00

186,080.79

0.00

Total

768,834,100.00

4,908,917.15

198,974.05

0.00

5,107,891.20

0.00

(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

Class

Accrual

Certificate

Interest

Distribution Date: 25-Apr-06

Pass-Thru Rate

Total Interest

Additions

Distributable

Certificate

Interest

Bond Interest Reconciliation

Opening Balance

- - Accrual - -

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

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

25-Apr-2006 10:17

Page 7 of 26

A-1

24-Apr-06

30-Mar-06

25-Apr-06

0.00

A-2

24-Apr-06

30-Mar-06

25-Apr-06

0.00

A-3

24-Apr-06

30-Mar-06

25-Apr-06

0.00

M-1

24-Apr-06

30-Mar-06

25-Apr-06

0.00

M-2

24-Apr-06

30-Mar-06

25-Apr-06

0.00

M-3

24-Apr-06

30-Mar-06

25-Apr-06

0.00

M-4

24-Apr-06

30-Mar-06

25-Apr-06

0.00

M-5

24-Apr-06

30-Mar-06

25-Apr-06

0.00

M-6

24-Apr-06

30-Mar-06

25-Apr-06

0.00

M-7

24-Apr-06

30-Mar-06

25-Apr-06

0.00

M-8

24-Apr-06

30-Mar-06

25-Apr-06

0.00

M-9

24-Apr-06

30-Mar-06

25-Apr-06

0.00

M-10

31-Mar-06

30-Mar-06

25-Apr-06

0.00

31-Mar-06

30-Mar-06

1-Apr-06

0.00

12,893.26

0.00

31-Mar-06

30-Mar-06

1-Apr-06

0.00

186,080.79

0.00

Total

0.00

12,893.26

186,080.79

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

- - - - - - - - - - - - - - - - - - - - - - - - - - - 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-Apr-06

Asset-Backed Certificates

Series 2006-HE3

Prior Interest Due

Date

Current Interest

Due Date

Prior Shortfall

Reimbursement

Other Interest

Proceeds

(1)

25-Apr-2006 10:17

Page 8 of 26

A-1

396,254,000.00

324,981.14

13,708,321.70

0.00

382,220,697.16

25-Apr-36

N/A

A-2

171,485,000.00

0.00

171,485,000.00

25-Apr-36

N/A

A-3

24,954,000.00

0.00

24,954,000.00

25-Apr-36

N/A

M-1

38,481,000.00

0.00

38,481,000.00

25-Apr-36

N/A

M-2

30,150,000.00

0.00

30,150,000.00

25-Apr-36

N/A

M-3

18,646,000.00

0.00

18,646,000.00

25-Apr-36

N/A

M-4

16,265,000.00

0.00

16,265,000.00

25-Apr-36

N/A

M-5

15,075,000.00

0.00

15,075,000.00

25-Apr-36

N/A

M-6

13,488,000.00

0.00

13,488,000.00

25-Apr-36

N/A

M-7

13,092,000.00

0.00

13,092,000.00

25-Apr-36

N/A

M-8

11,505,000.00

0.00

11,505,000.00

25-Apr-36

N/A

M-9

9,124,000.00

0.00

9,124,000.00

25-Apr-36

N/A

M-10

10,315,000.00

0.00

10,315,000.00

25-Apr-36

N/A

793,431,579.99

0.00

779,397,076.14

25-Apr-36

N/A

100.00

0.00

100.00

25-Apr-36

N/A

Total

768,834,100.00

324,981.14

13,708,321.70

0.00

754,800,797.16

Ending

Class Balance

Rated

Final

Maturity

- Credit Support -

Class

Original Class

Balance

Beginning Class

Balance

Current

Losses

Distribution Date: 25-Apr-06

Bond Principal Reconciliation

Unscheduled

Principal
Payment

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

Current

Original

Interest on

Losses

Scheduled Principal

Payment

Cumulative

Losses

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

Extra

Principal
Payment

Prior
Loss

Reimburs.

25-Apr-2006 10:17

Page 9 of 26

Class

CUSIP

Fitch

Moody's

S&P

A-1

07387UHP9

Aaa

AAA

A-2

07387UHQ7

Aaa

AAA

A-3

07387UHR5

Aaa

AAA

M-1

07387UHS3

Aa1

AA+

M-2

07387UHT1

Aa2

M-3

07387UHU8

Aa3

AA-

M-4

07387UHV6

A+

M-5

07387UHW4

M-6

07387UHX2

A-

M-7

07387UHY0

Baa1

BBB+

M-8

07387UHZ7

Baa2

BBB

M-9

07387UJA0

Baa3

BBB-

M-10

07387UJB8

Ba1

BB+

07387UJD4

07387UJC6

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

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 wi

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

Fitch

Moody's

S&P

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

(1)

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

Distribution Date: 25-Apr-06

Ratings Information

25-Apr-2006 10:17

Page 10 of 26

Type

Count

Count (%)

Scheduled UPB

Sched UPB (%)

Arrears

Arrears (%)

REO Book Value

3947

98.6997%

770,034,814.44

98.7988%

0.00

0.0000%

0.00

1.2753%

9,082,644.94

1.1653%

0.00

0.0000%

0.00

0.0250%

279,616.76

0.0359%

0.00

0.0000%

0.00

Total (Prior Month End):

3999

100.0000%

779,397,076.14

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

1.3003%

9,362,261.70

1.2012%

0.00

0.0000%

0.00

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

F/C Quick Sale

Value

Total

Distribution Date: 25-Apr-06

End of Month Balance Reporting

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-2006 10:18

Page 11 of 26

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

25-Apr-06

3,888

770,034,814

9,082,645

279,617

25-Apr-06

411

76,235,986

2,031,604

Fixed 1st Lien

Delinquent 3+ Months

Foreclosure

REO

Total (All Loans)

Distribution

Date

Current

Delinquent 1 Month

Delinquent 2 Months

Distribution Date: 25-Apr-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-2006 10:18

Page 12 of 26

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinquent 3+ Months

Foreclosure

REO

Distribution

Date

Current

Delinquent 1 Month

Delinquent 2 Months

Distribution Date: 25-Apr-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-06

420

20,279,687

141,100

25-Apr-06

2,853

633,055,436

6,632,106

279,617

228 ARM

Fixed 2nd Lien

25-Apr-2006 10:18

Page 13 of 26

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinquent 3+ Months

Foreclosure

REO

Distribution

Date

Current

Delinquent 1 Month

Delinquent 2 Months

Distribution Date: 25-Apr-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-06

204

40,463,706

277,835

327 ARM

25-Apr-2006 10:18

Page 14 of 26

Balance

25-Apr-06

61-90 Days

90 + Days

Total (All Loans)

Fixed 1st Lien

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-Apr-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-2006 10:18

Page 15 of 26

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-Apr-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-06

Fixed 2nd Lien

228 ARM

25-Apr-2006 10:18

Page 16 of 26

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-Apr-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-06

327 ARM

25-Apr-2006 10:18

Page 17 of 26

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

25-Apr-06

3,938

779,397,076

13,662,022

0.00

351

7.94%

7.42%

25-Apr-06

422

78,267,589

324,257

0.00

348

7.59%

7.08%

Curr Weighted Avg.

Total (All Loans)

Fixed 1st Lien

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-Apr-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-2006 10:18

Page 18 of 26

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

Curr Weighted Avg.

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-Apr-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-06

424

20,420,787

434,549

0.00

212

10.88%

10.37%

25-Apr-06

2,886

639,967,158

12,786,316

0.00

356

7.91%

7.40%

Fixed 2nd Lien

228 ARM

25-Apr-2006 10:18

Page 19 of 26

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

Curr Weighted Avg.

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-Apr-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-06

206

40,741,541

116,900

0.00

355

7.48%

6.96%

327 ARM

25-Apr-2006 10:18

Page 20 of 26

SMM (Single Monthly Mortality)

Total

Current Period

1.72%

3-Month Average

1.72%

6-Month Average

1.72%

12-Month Average

1.72%

Average Since Cut-Off

1.72%

CPR (Conditional Prepayment Rate)

Total

Current Period

18.82%

3-Month Average

18.82%

6-Month Average

18.82%

12-Month Average

18.82%

Average Since Cut-Off

18.82%

PSA (Public Securities Association)

Total

Current Period

314%

3-Month Average

314%

6-Month Average

314%

12-Month Average

314%

Average Since Cut-Off

314%

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-Apr-06

Prepayment Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

0.00%

0.30%

0.60%

0.90%

1.20%

1.50%

1.80%

2.10%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

0.00%

3.01%

6.03%

9.04%

12.06%

15.07%

18.09%

21.10%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

43%

86%

129%

171%

214%

257%

300%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

25-Apr-2006 10:18

Page 21 of 26

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

25-Apr-06

0.00

Total

0.00

Recovery on Prior

Liquidations

Claims on Prior Liquidations

(Claims)/Recoveries on

Prior Payoffs

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

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

Distribution Date: 25-Apr-06

Historical Realized Loss Summary

25-Apr-2006 10:18

Page 22 of 26

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-Apr-06

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

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

25-Apr-2006 10:18

Page 23 of 26

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-Apr-06

Realized Loss Summary

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

20%

40%

60%

80%

100%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

25-Apr-2006 10:18

Page 24 of 26

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-Apr-06

Material Breaches Detail

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-2006 10:18

Page 25 of 26

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-Apr-06

Modified Loan Detail

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE3

25-Apr-2006 10:18

Page 26 of 26

Bear Stearns Asset Backed Securities I Trust 2006-HE3 10-D/A