Content:

Pages

Contact Information:

Statement to Certificate Holders

Analyst:

Sang Huynh

714.259.6213

Statement to Certificate Holders (Factors)

sang.huynh@abnamro.com

Pool/Non-Pool Funds Cash Reconciliation

Administrator:

Peter Sablich

312.904.8162

Pool Detail and Performance Indicators

peter.sablich@abnamro.com

Bond Interest Reconciliation Part I

LaSalle Website:

www.etrustee.net

Bond Interest Reconciliation Part II

Bond Principal Reconciliation

Rating Information

Outside Parties To The Transaction

End of Month Balance Reporting

15 Month Loan Status Summary Part I

15 Month Loan Status Summary Part II

15 Month Historical Payoff Summary

Prepayment Summary

Mortgage Loan Characteristics Part I

Mortgage Loan Characteristics Part II

16-18

Geographic Concentration

Current Period Realized Loss Detail

Historical Realized Loss Summary

Realized Loss Summary

Historical Collateral Level REO Report

Material Breaches Detail

Modified Loan Detail

Determination

Date:

15-Jun-06

First Pay. Date:

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

27-Mar-06

Rated Final

Payment Date:

25-Jan-36

Underwriter: Bear Stearns & Co. Inc.

Closing Date:

28-Feb-06

Master Servicer: EMC Mortgage Corporation

Record Date:

23-Jun-06

Issuer: Bear, Stearns & Co., Inc.

Distribution Count:

Depositor: Bear, Stearns & Co., Inc.

Prior Payment:

25-May-06

Next Payment:

25-Jul-06

ABN AMRO Acct : 723481.1

Payment Date:

26-Jun-06

Distribution Date: 26-Jun-06

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

23-Jun-2006 10:19

07384YUT1

170,051,000.00

144,599,421.41

6,308,930.75

0.00

138,290,490.66

689,096.58

0.00

5.3612500000%

M-1

07384YUU8

18,616,000.00

0.00

18,616,000.00

92,356.04

0.00

5.5812500000%

M-2

07384YUV6

5,489,000.00

0.00

5,489,000.00

27,963.41

0.00

5.7312500000%

M-3

07384YUW4

9,785,000.00

0.00

9,785,000.00

51,762.65

0.00

5.9512500000%

M-4

07384YUX2

4,415,000.00

0.00

4,415,000.00

23,865.53

0.00

6.0812500000%

M-5

07384YUY0

4,177,000.00

0.00

4,177,000.00

26,291.89

2,072.81

6.5229742197%

M-6

07384YUZ7

4,416,000.00

0.00

4,416,000.00

27,796.27

2,191.42

6.5229742197%

M-7

07384YVA1

3,580,000.00

0.00

3,580,000.00

22,534.11

1,776.56

6.5229742197%

B-IO

07384YVC7

238,667,328.91 N

213,216,138.41

0.00

206,907,207.66

350,380.18

69,736.20

1.5794901088%

R-1

07384YVD5

0.00

N/A

R-2

07384YVE3

0.00

N/A

Total

220,529,000.00

195,077,421.41

6,308,930.75

0.00

188,768,490.66

1,312,046.66

75,776.99

Total P&I Payment

7,620,977.41

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

Certificates

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

Distribution Date: 26-Jun-06

Pass-Through

Rate

Deferred Interest

Ending Certificate

Balance

Interest Payment

(2)

23-Jun-2006 10:19

Page 2 of 25

07384YUT1

170,051,000.00

850.329732904

37.100227285

0.000000000

813.229505619

4.052293606

0.000000000

5.60250000%

M-1

07384YUU8

18,616,000.00

1000.000000000

0.000000000

1000.000000000

4.961110872

0.000000000

5.82250000%

M-2

07384YUV6

5,489,000.00

1000.000000000

0.000000000

1000.000000000

5.094445254

0.000000000

5.97250000%

M-3

07384YUW4

9,785,000.00

1000.000000000

0.000000000

1000.000000000

5.290000000

0.000000000

6.19250000%

M-4

07384YUX2

4,415,000.00

1000.000000000

0.000000000

1000.000000000

5.405556059

0.000000000

6.32250000%

M-5

07384YUY0

4,177,000.00

1000.000000000

0.000000000

1000.000000000

6.294443380

0.496243716

7.32250000%

M-6

07384YUZ7

4,416,000.00

1000.000000000

0.000000000

1000.000000000

6.294445199

0.496245471

7.32250000%

M-7

07384YVA1

3,580,000.00

1000.000000000

0.000000000

1000.000000000

6.294444134

0.496245810

7.32250000%

B-IO

07384YVC7

238,667,328.91 N

893.361229556

0.000000000

866.927235516

1.468069306

0.292189971

N/A

R-1

07384YVD5

0.00

0.000000000

N/A

R-2

07384YVE3

0.00

0.000000000

N/A

Certificates

Current Realized

Loss *

Original Face

Value

Class

CUSIP

Beginning Certificate

Balance *

Principal Payment

Asset-Backed Certificates 2006-1

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

Bear Stearns Asset Backed Securities Trust

Next Rate **

Deferred Interest *

Ending Certificate

Balance *

Interest Payment *

Interest Adjustment*

Statement to Certificate Holders (FACTORS)

Distribution Date: 26-Jun-06

23-Jun-2006 10:19

Page 3 of 25

Interest Summary

Principal Summary

Reserve Fund

Interest Summary

Principal Summary

Beginning Balance

5,000.00

Scheduled Interest

1,327,774.93

Scheduled Prin Distribution

120,081.47

Withdrawal from Trust

0.00

Fees

91,505.26

Curtailments

9,492.32

Reimbursement from Waterfall

0.00

Remittance Interest

1,236,269.67

Prepayments in Full

6,179,356.96

Ending Balance

5,000.00

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

0.00

Prepayment Penalties

0.00

Repurchase Proceeds

0.00

Yield Maintenance Agreement

Other Interest Loss

0.00

Other Principal Proceeds

0.00

Other Interest Proceeds

0.00

Remittance Principal

6,308,930.75

Amt Received Under the Yield Main. Agreement

75,776.98

Non-advancing Interest

0.00

Net PPIS/Relief Act Shortfall

0.00

Swap Agreement

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

0.00

Net Swap payment payable to the Swap

Interest Adjusted

1,236,269.67

Administrator

0.00

Fee Summary

Net Swap payment payable to the Swap Provider

0.00

Total Servicing Fees

88,840.06

Total Trustee Fees

2,665.20

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

91,505.26

Advances (Principal & Interest)

Prior Month's Outstanding Advances

1,299,186.00

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

1,259,670.68

P&I Due Certificate Holders

7,620,977.40

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: 26-Jun-06

Cash Reconciliation Summary

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

23-Jun-2006 10:19

Page 4 of 25

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

238,667,328.91

1,112

3 mo. Rolling Average

15,228,056

213,357,116

7.16%

WAC - Current

6.61%

7.10%

6.96%

Cum Scheduled Principal

495,296.03

6 mo. Rolling Average

13,869,643

217,402,565

6.44%

WAC - Original

6.65%

7.07%

6.95%

Cum Unscheduled Principal

31,266,320.82

12 mo. Rolling Average

13,869,643

217,402,565

6.44%

WAL - Current

328.89

347.92

342.46

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAL - Original

333.06

350.92

345.83

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

213,216,138.41

1,015

89.34%

Scheduled Principal

120,081.47

0.05%

Triggers

Unscheduled Principal

6,188,849.28

2.59%

Deferred Interest

0.00

0.00%

> Delinquency Trigger Event

(2)

Liquidations

0.00

0.00%

Delinquency Event Calc

(1)

15,228,056

213,357,116

7.16%

Repurchases

0.00

0.00%

Ending Pool

206,907,207.66

992

86.69%

> Loss Trigger Event?

(3)

Average Loan Balance

208,575.81

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)

33.16%

Cut-off LTV

83.64%

Step Down %

(5)

57.50%

Cash Out/Refinance

72.50%

Credit Enhancement

Amount

% of Current Specified Enhancement %

(6)

35.00%

SFR

67.95%

Original OC

18,138,328.91

7.60%

> Step Down Date?

Target OC

18,138,717.00

7.60%

Min

Max

Beginning OC

18,138,717.00

Extra Principal

0.00

FICO

425

797

615.54

OC Amount per PSA

18,138,717.00

7.60%

Cumulative Extra Principal

388.09

Ending OC

18,138,717.00

OC Release

N/A

Mezz Certificates

50,478,000.00 21.15%

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

213,442,297.68

89.43%

Balance

199,609,345.96

173,034,161.84

162,175,696.92

Misc/Additional Information

Pool Level Information

5.081250%

5.322500%

Distribution Date: 26-Jun-06

Pool Detail and Performance Indicators Total (All Loans)

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

23-Jun-2006 10:19

Page 5 of 25

Act/360

144,599,421.41

5.361250000%

689,096.58

0.00

689,096.58

0.00

M-1

Act/360

18,616,000.00

5.581250000%

92,356.04

0.00

92,356.04

0.00

M-2

Act/360

5,489,000.00

5.731250000%

27,963.41

0.00

27,963.41

0.00

M-3

Act/360

9,785,000.00

5.951250000%

51,762.65

0.00

51,762.65

0.00

M-4

Act/360

4,415,000.00

6.081250000%

23,865.53

0.00

23,865.53

0.00

M-5

Act/360

4,177,000.00

6.522970000%

24,219.08

2,072.82

0.00

26,291.90

26,291.89

0.00

Yes

M-6

Act/360

4,416,000.00

6.522970000%

25,604.85

2,191.42

0.00

27,796.27

0.00

Yes

M-7

Act/360

3,580,000.00

6.522970000%

20,757.55

1,776.56

0.00

22,534.11

0.00

Yes

B-IO

30/360

213,216,138.41

1.579490000%

280,643.98

69,737.89

0.00

350,381.02

350,380.18

0.00

R-1

30/360

0.00

0.000000000%

0.00

R-2

30/360

0.00

0.000000000%

0.00

R-2

30/360

0.00

0.000000000%

0.00

Total

195,077,421.41

1,236,269.67

75,778.69

0.00

1,312,047.51

1,312,046.66

0.00

- - Accrual - -

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

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

Class

Accrual

Certificate

Interest

Distribution Date: 26-Jun-06

Pass-Thru Rate

Total Interest

Additions

Distributable

Certificate

Interest

Bond Interest Reconciliation - Part I

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

23-Jun-2006 10:19

Page 6 of 25

23-Jun-06

25-May-06

26-Jun-06

0.00

M-1

23-Jun-06

25-May-06

26-Jun-06

0.00

M-2

23-Jun-06

25-May-06

26-Jun-06

0.00

M-3

23-Jun-06

25-May-06

26-Jun-06

0.00

M-4

23-Jun-06

25-May-06

26-Jun-06

0.00

M-5

23-Jun-06

25-May-06

26-Jun-06

0.00

2,072.82

0.00

M-6

23-Jun-06

25-May-06

26-Jun-06

0.00

2,191.42

0.00

M-7

23-Jun-06

25-May-06

26-Jun-06

0.00

1,776.56

0.00

B-IO

31-May-06

25-May-06

25-Jun-06

0.00

69,736.19

0.00

0.85

0.00

R-1

31-May-06

25-May-06

25-Jun-06

0.00

R-2

31-May-06

25-May-06

25-Jun-06

0.00

R-2

31-May-06

25-May-06

25-Jun-06

0.00

Total

0.00

75,776.99

0.00

0.85

0.00

Bear Stearns Asset Backed Securities 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 - Part II

Other Interest

Losses

Prepayment

Premiums

Record Date

Class

Interest Rate

SWAP Agreement

Deposits from YM

Agreement

Prior Int Carry-Fwd

Shortfall

Distribution Date: 26-Jun-06

Asset-Backed Certificates 2006-1

Prior Interest Due

Date

Current Interest

Due Date

Prior Shortfall

Reimbursement

Other Interest

Proceeds

(1)

23-Jun-2006 10:19

Page 7 of 25

170,051,000.00

144,599,421.41

120,081.47

6,188,849.28

0.00

138,290,490.66

25-Jan-36

N/A

M-1

18,616,000.00

0.00

18,616,000.00

25-Jan-36

N/A

M-2

5,489,000.00

0.00

5,489,000.00

25-Jan-36

N/A

M-3

9,785,000.00

0.00

9,785,000.00

25-Jan-36

N/A

M-4

4,415,000.00

0.00

4,415,000.00

25-Jan-36

N/A

M-5

4,177,000.00

0.00

4,177,000.00

25-Jan-36

N/A

M-6

4,416,000.00

0.00

4,416,000.00

25-Jan-36

N/A

M-7

3,580,000.00

0.00

3,580,000.00

25-Jan-36

N/A

B-IO

238,667,328.91

213,216,138.41

0.00

206,907,207.66

25-Jan-36

N/A

R-1

0.00

25-Jan-36

N/A

R-2

0.00

25-Jan-36

N/A

R-2

0.00

25-Jan-36

N/A

Total

220,529,000.00

195,077,421.41

120,081.47

6,188,849.28

0.00

188,768,490.66

Ending

Class Balance

Rated

Final

Maturity

- Credit Support -

Class

Original Class

Balance

Beginning Class

Balance

Current

Losses

Distribution Date: 26-Jun-06

Bond Principal Reconciliation

Unscheduled

Principal
Payment

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

Current

Original

Interest on

Losses

Scheduled Principal

Payment

Cumulative

Losses

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

Extra

Principal
Payment

Prior
Loss

Reimburs.

23-Jun-2006 10:19

Page 8 of 25

Class

CUSIP

Fitch

Moody's

DBRS

S&P

07384YUT1

Aaa

AAA

M-1

07384YUU8

Aa2

M-2

07384YUV6

Aa3

AA-

M-3

07384YUW4

M-4

07384YUX2

A-

M-5

07384YUY0

Baa1

BBB+

M-6

07384YUZ7

Baa2

BBB

M-7

07384YVA1

Baa3

BBB-

B-IO

07384YVC7

Ratings Information

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

DBRS

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: 26-Jun-06

23-Jun-2006 10:19

Page 9 of 25

Type

Count

Count (%)

Scheduled UPB

Sched UPB (%)

Arrears

Arrears (%)

REO Book Value

816

80.3941%

179,927,289.96

85.5574%

0.00

0.0000%

0.00

7.3892%

13,246,965.05

6.2991%

0.00

0.0000%

0.00

2.3645%

3,845,114.02

1.8284%

0.00

0.0000%

0.00

90+

2.7586%

4,399,485.32

2.0920%

0.00

0.0000%

0.00

BKY0

2.7586%

2,622,065.54

1.2468%

0.00

0.0000%

0.00

BKY30

0.4926%

553,802.90

0.2633%

0.00

0.0000%

0.00

BKY60

0.0985%

165,295.50

0.0786%

0.00

0.0000%

0.00

BKY90+

0.2956%

221,783.15

0.1055%

0.00

0.0000%

0.00

F/C90+

2.2660%

5,318,319.80

2.5289%

0.00

0.0000%

0.00

PIF

1.1823%

0.00

0.0000%

0.00

0.0000%

0.00

Total (Prior Month End):

1015

100.0000%

210,300,121.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

159

15.6650%

27,750,765.00

13.1958%

0.00

0.0000%

0.00

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

F/C Quick Sale

Value

Total

Distribution Date: 26-Jun-06

End of Month Balance Reporting

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

23-Jun-2006 10:19

Page 10 of 25

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

26-Jun-06

806

176,909,226

12,872,115

3,845,114

4,399,485

3,562,947

5,318,320

25-May-06

845

187,946,815

10,020,292

6,263,136

3,736,894

3,871,128

1,377,875

25-Apr-06

882

194,457,216

12,181,515

6,650,284

2,197,201

4,461,786

27-Mar-06

910

205,258,412

14,486,095

3,868,057

1,038,026

4,888,322

26-Jun-06

81.25%

85.50%

7.46%

6.22%

2.42%

1.86%

2.82%

2.13%

3.73%

1.72%

2.32%

2.57%

0.00%

25-May-06

83.25%

88.15%

6.40%

4.70%

3.65%

2.94%

2.07%

1.75%

3.94%

1.82%

0.69%

0.65%

0.00%

25-Apr-06

84.48%

88.41%

6.80%

5.54%

3.35%

3.02%

1.15%

1.00%

4.21%

2.03%

0.00%

27-Mar-06

84.49%

89.42%

8.17%

6.31%

2.41%

1.69%

0.37%

0.45%

4.55%

2.13%

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: 26-Jun-06

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

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

23-Jun-2006 10:19

Page 11 of 25

Balance

26-Jun-06

5,318,320

2,622,066

553,803

165,296

221,783

25-May-06

1,377,875

2,728,008

384,564

536,423

222,132

25-Apr-06

3,393,237

474,462

487,889

106,198

27-Mar-06

3,390,960

1,012,712

484,650

26-Jun-06

0.00%

2.32%

2.57%

0.00%

2.82%

1.27%

0.50%

0.27%

0.10%

0.08%

0.30%

0.11%

25-May-06

0.00%

0.69%

0.65%

0.00%

2.86%

1.28%

0.49%

0.18%

0.30%

0.25%

0.30%

0.10%

25-Apr-06

0.00%

3.26%

1.54%

0.48%

0.22%

0.29%

0.22%

0.19%

0.05%

27-Mar-06

0.00%

2.97%

1.48%

1.02%

0.44%

0.56%

0.21%

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: 26-Jun-06

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

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

23-Jun-2006 10:19

Page 12 of 25

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

26-Jun-06

992

206,907,208

6,179,357

0.00

342

7.47%

6.96%

25-May-06

1,015

213,216,138

6,619,950

0.00

344

7.47%

6.95%

25-Apr-06

1,044

219,948,002

9,463,686

0.00

345

7.46%

6.95%

27-Mar-06

1,077

229,538,910

8,970,655

0.00

346

7.46%

6.95%

Curr Weighted Avg.

Total (All Loans)

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 26-Jun-06

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

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

23-Jun-2006 10:19

Page 13 of 25

SMM (Single Monthly Mortality)

Total

Current Period

2.90%

3-Month Average

3.34%

6-Month Average

3.45%

12-Month Average

3.45%

Average Since Cut-Off

3.45%

CPR (Conditional Prepayment Rate)

Total

Current Period

29.75%

3-Month Average

33.38%

6-Month Average

34.25%

12-Month Average

34.25%

Average Since Cut-Off

34.25%

PSA (Public Securities Association)

Total

Current Period

496%

3-Month Average

556%

6-Month Average

571%

12-Month Average

571%

Average Since Cut-Off

571%

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: 26-Jun-06

Prepayment Summary

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

0.00%

2.43%

4.86%

7.29%

9.71%

12.14%

14.57%

17.00%

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

0.00%

14.29%

28.57%

42.86%

57.14%

71.43%

85.71%

100.00%

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

229%

457%

686%

914%

1143%

1371%

1600%

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

23-Jun-2006 10:19

Page 14 of 25

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

6,000

55,000

9.88%

3,824,492

1.85%

7,000

56,000

112

10.07%

4,472,764

1.87%

55,000

74,000

8.77%

5,632,601

2.72%

56,000

77,000

103

9.26%

6,974,099

2.92%

74,000

93,000

9.07%

7,520,837

3.63%

77,000

98,000

8.27%

8,068,805

3.38%

93,000

112,000

6.65%

6,779,805

3.28%

98,000

119,000

8.00%

9,690,399

4.06%

112,000

131,000

7.56%

9,098,889

4.40%

119,000

140,000

7.82%

11,293,119

4.73%

131,000

151,000

8.06%

11,295,451

5.46%

140,000

161,000

6.56%

10,803,391

4.53%

151,000

211,000

120

12.10%

21,797,976

10.54%

161,000

220,000

131

11.78%

25,055,064

10.50%

211,000

271,000

8.97%

21,480,990

10.38%

220,000

279,000

100

8.99%

24,851,509

10.41%

271,000

331,000

8.06%

24,017,794

11.61%

279,000

338,000

8.09%

27,733,198

11.62%

331,000

391,000

6.65%

23,751,412

11.48%

338,000

397,000

6.21%

25,328,902

10.61%

391,000

450,000

4.13%

17,141,327

8.28%

397,000

458,000

4.95%

23,407,121

9.81%

450,000

998,000

100

10.08%

54,565,635

26.37%

458,000

1,004,000

111

9.98%

60,988,959

25.55%

992

100.00%

206,907,208

100.00%

1,112

100.00%

238,667,329

100.00%

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

4.88%

6.19%

9.88%

29,012,265

14.02%

4.63%

6.23%

111

9.98%

32,932,285

13.80%

6.19%

6.47%

4.64%

13,894,305

6.72%

6.23%

6.50%

7.19%

22,071,531

9.25%

6.47%

6.75%

8.57%

19,790,529

9.56%

6.50%

6.77%

6.29%

18,899,085

7.92%

6.75%

7.03%

8.47%

20,628,293

9.97%

6.77%

7.03%

8.09%

22,046,651

9.24%

7.03%

7.31%

6.45%

15,824,376

7.65%

7.03%

7.30%

6.74%

18,786,633

7.87%

7.31%

7.63%

125

12.60%

26,579,700

12.85%

7.30%

7.63%

132

11.87%

27,618,270

11.57%

7.63%

8.08%

133

13.41%

30,986,209

14.98%

7.63%

8.06%

162

14.57%

39,953,814

16.74%

8.08%

8.53%

8.77%

15,925,635

7.70%

8.06%

8.50%

8.81%

18,422,995

7.72%

8.53%

8.98%

6.85%

11,604,340

5.61%

8.50%

8.94%

6.12%

11,730,077

4.91%

8.98%

9.44%

6.15%

9,066,157

4.38%

8.94%

9.38%

6.47%

10,960,069

4.59%

9.44%

9.95%

4.13%

5,008,138

2.42%

9.38%

9.83%

3.78%

5,394,674

2.26%

9.95%

15.11%

100

10.08%

8,587,259

4.15%

9.83%

18.00%

112

10.07%

9,851,246

4.13%

992

100.00%

206,907,208

100.00%

1,112

100.00%

238,667,329

100.00%

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

Distribution Date: 26-Jun-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

23-Jun-2006 10:19

Page 15 of 25

661

147,327,207

71.20%

347.93

7.63%

748

171,733,348

71.96%

359.89

7.58%

331

59,580,001

28.80%

328.99

7.11%

364

66,933,981

28.04%

347.57

7.16%

992

206,907,208

100.00%

1,112

238,667,329

100.00%

717

139,574,687

67.46%

340.80

7.50%

802

161,114,445

67.51%

355.59

7.48%

116

32,553,787

15.73%

348.54

7.55%

133

37,850,366

15.86%

359.55

7.52%

109

24,834,545

12.00%

342.32

7.42%

122

28,617,257

11.99%

356.46

7.37%

6,993,137

3.38%

345.61

7.32%

7,871,698

3.30%

358.86

7.38%

2,151,975

1.04%

348.47

6.16%

2,152,311

0.90%

360.00

6.16%

799,077

0.39%

348.82

7.24%

1,061,252

0.44%

348.53

8.21%

992

206,907,208

100.00%

1,112

238,667,329

100.00%

SF Unattached Dwelling

Multifamily

PUD

Condo - Low Facility

Other

SF Attached Dwelling

Total

SF Unattached Dwelling

Multifamily

PUD

Condo - Low Facility

Other

SF Attached Dwelling

Total

WAMM

WAC

Adjustable

Fixed 1st 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 Trust

Asset-Backed Certificates 2006-1

Distribution Date: 26-Jun-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)

Adjustable

Fixed 1st Lien

23-Jun-2006 10:19

Page 16 of 25

Mortgage Loan Characteristics Part II

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

Distribution Date: 26-Jun-06

877

182,839,967

88.37%

342.37

7.47%

981

210,774,496

88.31%

356.58

7.45%

105

21,440,165

10.36%

344.05

7.63%

120

25,225,031

10.57%

355.10

7.61%

2,627,076

1.27%

336.73

6.85%

2,667,802

1.12%

357.79

6.87%

992

206,907,208

100.00%

1,112

238,667,329

100.00%

557

126,303,581

61.04%

345.30

7.38%

637

147,853,980

61.95%

357.87

7.37%

309

57,998,637

28.03%

342.66

7.73%

338

65,633,167

27.50%

358.27

7.70%

126

22,604,990

10.93%

326.19

7.40%

137

25,180,182

10.55%

343.24

7.38%

992

206,907,208

100.00%

1,112

238,667,329

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

23-Jun-2006 10:19

Page 17 of 25

Mortgage Loan Characteristics Part II

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

Distribution Date: 26-Jun-06

472

126,061,982

60.93%

349.82

7.29%

547

149,914,870

62.81%

359.41

7.30%

Encore

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

23-Jun-2006 10:19

Page 18 of 25

WAMM

WAC

California

180

67,518,274

32.63%

348

7.06%

New York

18,523,429

8.95%

341

7.34%

Illinois

15,618,613

7.55%

348

7.64%

Florida

10,885,616

5.26%

342

7.80%

Georgia

10,317,363

4.99%

346

7.92%

New Jersey

8,354,518

4.04%

342

7.57%

Massachusetts

7,496,537

3.62%

347

7.67%

Maryland

6,360,806

3.07%

330

7.06%

Nevada

6,290,593

3.04%

348

7.19%

Virginia

5,969,362

2.89%

345

7.81%

Remaining

400

49,572,097

23.96%

333

7.89%

WAMM

WAC

California

217

81,435,747

34.12%

359

7.07%

New York

19,925,287

8.35%

355

7.35%

Illinois

109

19,295,268

8.08%

361

7.72%

Florida

13,433,290

5.63%

354

7.83%

Georgia

10,376,512

4.35%

359

7.87%

New Jersey

10,141,294

4.25%

360

7.45%

Maryland

8,180,019

3.43%

350

7.28%

Massachusetts

8,146,880

3.41%

360

7.59%

Virginia

8,146,615

3.41%

359

7.59%

Nevada

6,299,027

2.64%

359

7.18%

Remaining

425

53,287,390

22.33%

351

7.86%

(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: 26-Jun-06

Geographic Concentration

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

Top 10 Current State Concentration

California

Florida

Illinois

New York

Virginia

Nevada

Maryland

Massachusetts

New Jersey

Georgia

Remaining

23-Jun-2006 10:19

Page 19 of 25

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: 26-Jun-06

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

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

23-Jun-2006 10:19

Page 20 of 25

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

26-Jun-06

0.00

25-May-06

0.00

25-Apr-06

0.00

27-Mar-06

0.00

Total

0.00

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

Total (All Loans)

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

Distribution Date: 26-Jun-06

Historical Realized Loss Summary

Recovery on Prior

Liquidations

Claims on Prior Liquidations

(Claims)/Recoveries on

Prior Payoffs

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

23-Jun-2006 10:19

Page 21 of 25

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: 26-Jun-06

Realized Loss Summary

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

0.00%

0.57%

1.14%

1.71%

2.29%

2.86%

3.43%

4.00%

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

0.00%

4.29%

8.57%

12.86%

17.14%

21.43%

25.71%

30.00%

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

143%

286%

429%

571%

714%

857%

1000%

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

23-Jun-2006 10:19

Page 22 of 25

Appraisal

Date

Disclosure

Control #

REO Date

Recent

Appraisal Value

Scheduled

Balance

City

State

Property Type

Actual Balance

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

Distribution Date: 26-Jun-06

Realized Loss

Appraisal

Reduction

Amount

Date

Liquidated

Liquidation

Proceeds

Liquidation

Expenses

Historical Collateral Level REO Report

23-Jun-2006 10:19

Page 23 of 25

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: 26-Jun-06

Material Breaches Detail

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

23-Jun-2006 10:19

Page 24 of 25

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: 26-Jun-06

Modified Loan Detail

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates 2006-1

23-Jun-2006 10:19

Page 25 of 25

Bear Stearns Asset Backed Securities Trust 2006-1 10-D