Content:

Pages

Contact Information:

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

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

Bond Interest Reconciliation Part II

Bond Principal Reconciliation

Outside Parties To The Transaction

Rating Information

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

Geographic Concentration

Historical Realized Loss Summary

45-47

Current Period Realized Loss Detail

Realized Loss Summary

Material Breaches Detail

Modified Loan Detail

Determination

Date:

15-Jun-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:

23-Jun-06

Issuer: Bear Stearns & Co. Inc.

Distribution Count:

Depositor: Bear Stearns Asset Backed Securities, Inc.

Prior Payment:

25-May-06

Next Payment:

25-Jul-06

ABN AMRO Acct : 723455.1

Payment Date:

26-Jun-06

Distribution Date: 26-Jun-06

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

22-Jun-2006 08:58

I-A-1

07387UEH0

198,258,000.00

178,432,501.78

11,076,756.62

0.00

167,355,745.16

818,608.67

0.00

5.1612500000%

I-A-2

07387UEJ6

74,638,000.00

0.00

74,638,000.00

350,383.94

0.00

5.2812500000%

I-A-3

07387UEK3

14,310,000.00

0.00

14,310,000.00

68,703.90

0.00

5.4012500000%

II-A

07387UEL1

241,697,000.00

225,253,019.85

12,102,009.05

0.00

213,151,010.80

1,057,437.79

0.00

5.2812500000%

M-1

07387UEM9

32,836,000.00

0.00

32,836,000.00

159,984.29

0.00

5.4812500000%

M-2

07387UEN7

26,127,000.00

0.00

26,127,000.00

127,528.79

0.00

5.4912500000%

M-3

07387UEP2

15,888,000.00

0.00

15,888,000.00

77,833.55

0.00

5.5112500000%

M-4

07387UEQ0

13,770,000.00

0.00

13,770,000.00

69,538.50

0.00

5.6812500000%

M-5

07387UER8

13,064,000.00

0.00

13,064,000.00

65,973.20

0.00

5.6812500000%

M-6

07387UES6

12,004,000.00

0.00

12,004,000.00

62,007.33

0.00

5.8112500000%

M-7

07387UET4

10,945,000.00

0.00

10,945,000.00

63,055.36

0.00

6.4812500000%

M-8

07387UEU1

9,886,000.00

0.00

9,886,000.00

58,272.48

0.00

6.6312500000%

M-9

07387UEV9

8,121,000.00

0.00

8,121,000.00

52,921.85

2,554.46

6.9773817442%

M-10

07387UEW7

8,827,000.00

0.00

8,827,000.00

57,522.62

2,776.53

6.9773817442%

07387UEY3

706,145,220.18 N

669,875,822.16

0.00

646,697,056.49

1,024,644.03

84,269.77

N/A

07387UEX5

100.00

0.00

100.00

183,862.62

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

644,101,621.63

23,178,765.67

0.00

620,922,855.96

4,298,278.92

273,463.38

Total P&I Payment

27,477,044.59

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: 26-Jun-06

Pass-Through

Rate

Deferred Interest

Ending Certificate

Balance

Interest Payment

(2)

22-Jun-2006 08:58

Page 2 of 51

I-A-1

07387UEH0

198,258,000.00

900.001522158

55.870414410

0.000000000

844.131107748

4.129007001

0.000000000

5.40250000%

I-A-2

07387UEJ6

74,638,000.00

1000.000000000

0.000000000

1000.000000000

4.694444385

0.000000000

5.52250000%

I-A-3

07387UEK3

14,310,000.00

1000.000000000

0.000000000

1000.000000000

4.801111111

0.000000000

5.64250000%

II-A

07387UEL1

241,697,000.00

931.964483837

50.070994055

0.000000000

881.893489783

4.375055503

0.000000000

5.52250000%

M-1

07387UEM9

32,836,000.00

1000.000000000

0.000000000

1000.000000000

4.872222256

0.000000000

5.72250000%

M-2

07387UEN7

26,127,000.00

1000.000000000

0.000000000

1000.000000000

4.881111111

0.000000000

5.73250000%

M-3

07387UEP2

15,888,000.00

1000.000000000

0.000000000

1000.000000000

4.898889099

0.000000000

5.75250000%

M-4

07387UEQ0

13,770,000.00

1000.000000000

0.000000000

1000.000000000

5.050000000

0.000000000

5.92250000%

M-5

07387UER8

13,064,000.00

1000.000000000

0.000000000

1000.000000000

5.050000000

0.000000000

5.92250000%

M-6

07387UES6

12,004,000.00

1000.000000000

0.000000000

1000.000000000

5.165555648

0.000000000

6.05250000%

M-7

07387UET4

10,945,000.00

1000.000000000

0.000000000

1000.000000000

5.761111010

0.000000000

6.72250000%

M-8

07387UEU1

9,886,000.00

1000.000000000

0.000000000

1000.000000000

5.894444669

0.000000000

6.87250000%

M-9

07387UEV9

8,121,000.00

1000.000000000

0.000000000

1000.000000000

6.516666667

0.314549932

7.57250000%

M-10

07387UEW7

8,827,000.00

1000.000000000

0.000000000

1000.000000000

6.516667044

0.314549677

7.57250000%

07387UEY3

706,145,220.18 N

948.637479964

0.000000000

915.813118901

1.451038683

0.119337733

N/A

07387UEX5

100.00

1000.000000000

0.000000000

1000.000000000

1838626.200000000

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: 26-Jun-06

22-Jun-2006 08:58

Page 3 of 51

Interest Summary

Principal Summary

Reserve Fund

Interest Summary

Principal Summary

Beginning Balance

5,000.00

Scheduled Interest

4,307,558.96

Scheduled Prin Distribution

331,460.72

Withdrawal from Trust

0.00

Fees

282,743.42

Curtailments

26,676.84

Reimbursement from Waterfall

0.00

Remittance Interest

4,024,815.54

Prepayments in Full

22,567,743.39

Ending Balance

5,000.00

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

87,559.24

Prepayment Penalties

183,862.62

Repurchase Proceeds

0.00

Swap Agreement

Other Interest Loss

0.00

Other Principal Proceeds

0.00

Other Interest Proceeds

0.00

Remittance Principal

23,013,440.19

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

183,862.62

Swap Termination payment payable to the Swap

Interest Adjusted

4,208,678.16

Administrator

0.00

Fee Summary

Swap Termination payment payable to the Swap

0.00

Total Servicing Fees

279,114.93

Provider

Total Trustee Fees

3,628.49

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

254,926.24

Insurance Premium

0.00

Total Fees

282,743.42

Advances (Principal & Interest)

Prior Month's Outstanding Advances

1,494,976.33

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

1,471,870.83

P&I Due Certificate Holders

27,477,044.59

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 I Trust

Asset-Backed Certificates

Series 2006-HE2

22-Jun-2006 08:58

Page 4 of 51

Fixed 1st Lien

Fixed 2nd Lien

228 ARM

327 ARM

Total

Interest Summary

Scheduled Interest

282,836.28

134,847.78

1,561,544.78

357,549.47

2,336,778.31

Fees

19,013.84

6,557.50

103,314.13

24,595.28

153,480.75

Remittance Interest

263,822.44

128,290.28

1,458,230.65

332,954.19

2,183,297.56

Other Interest Proceeds/Shortfalls

Prepayment Penalties

3,252.88

10,444.21

78,411.80

14,309.44

106,418.33

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

3,252.88

10,444.21

78,411.80

14,309.44

106,418.33

Interest Adjusted

267,075.32

138,734.49

1,536,642.45

347,263.63

2,289,715.89

Principal Summary

Scheduled Principal Distribution

41,280.21

8,252.33

84,069.12

28,906.19

162,507.85

Curtailments

3,991.74

1,463.02

(4,414.85)

2,952.26

3,992.17

Prepayments in Full

774,704.36

578,045.90

7,811,639.63

1,577,220.21

10,741,610.10

Liquidation Proceeds

0.00

91,247.72

(1,607.59)

89,640.13

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

819,976.31

587,761.25

7,982,541.62

1,607,471.07

10,997,750.25

Fee Summary

Total Servicing Fees

18,769.83

6,473.35

101,988.28

24,279.64

151,511.11

Total Trustee Fees

244.01

84.15

1,325.85

315.64

1,969.64

LPMI Fees

0.00

Total Fees

19,013.84

6,557.50

103,314.13

24,595.28

153,480.75

Beginning Principal Balance

45,047,600.64

15,536,031.83

244,771,881.95

58,271,145.13

363,626,659.55

Ending Principal Balance

44,227,624.33

14,948,270.58

236,788,237.29

56,603,895.86

352,568,028.06

Advances (Principal & Interest)

Prior Month's Outstanding Advances

153,569.00

91,781.10

296,908.00

80,674.80

622,932.90

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

151,698.25

89,981.78

291,242.96

79,944.27

612,867.26

Distribution Date: 26-Jun-06

Cash Reconciliation Summary Group I Loans

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

22-Jun-2006 08:58

Page 5 of 51

Distribution Date: 26-Jun-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

312,450.48

43,082.95

1,242,233.30

373,013.91

1,970,780.64

Fees

20,541.82

2,144.11

80,274.75

26,301.99

129,262.67

Remittance Interest

291,908.66

40,938.84

1,161,958.55

346,711.92

1,841,517.97

Other Interest Proceeds/Shortfalls

Prepayment Penalties

13,819.01

1,497.76

44,572.69

17,554.83

77,444.29

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

13,819.01

1,497.76

44,572.69

17,554.83

77,444.29

Interest Adjusted

305,727.67

42,436.60

1,206,531.24

364,266.75

1,918,962.26

Principal Summary

Scheduled Principal Distribution

45,102.19

2,676.42

100,001.55

21,172.71

168,952.87

Curtailments

3,812.99

737.20

14,058.00

4,076.48

22,684.67

Prepayments in Full

1,266,738.15

79,689.41

8,838,283.15

1,641,422.58

11,826,133.29

Liquidation Proceeds

0.00

(2,080.89)

0.00

(2,080.89)

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

1,315,653.33

83,103.03

8,950,261.81

1,666,671.77

12,015,689.94

Fee Summary

Total Servicing Fees

20,278.20

2,116.59

79,244.57

25,964.46

127,603.82

Total Trustee Fees

263.62

27.52

1,030.18

337.54

1,658.85

LPMI Fees

0.00

Total Fees

20,541.82

2,144.11

80,274.75

26,301.99

129,262.67

Beginning Principal Balance

48,667,682.41

5,079,818.65

190,186,964.99

62,314,696.56

306,249,162.61

Ending Principal Balance

47,352,029.08

4,996,715.62

181,132,258.94

60,648,024.79

294,129,028.43

Advances (Principal & Interest)

Prior Month's Outstanding Advances

182,407.00

34,874.20

530,722.00

124,041.00

872,044.20

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

180,208.15

34,874.20

522,942.93

120,978.29

859,003.57

Cash Reconciliation Summary Group II Loans

22-Jun-2006 08:58

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

12,268,314

667,419,899

1.85%

WAC - Current

7.61%

7.13%

7.21%

Cum Scheduled Principal

1,347,879.82

6 mo. Rolling Average

9,318,979

675,015,320

1.40%

WAC - Original

7.62%

7.15%

7.23%

Cum Unscheduled Principal

57,847,399.74

12 mo. Rolling Average

9,318,979

675,015,320

1.40%

WAL - Current

312.39

352.03

345.19

Cum Liquidations

252,884.77

Loss Levels

Amount

Count

WAL - Original

314.61

355.05

348.30

Cum Deferred Interest

0.00

3 mo. Cum Loss

165,325.53

6 mo. Cum loss

165,325.53

Current Index Rate

Current

Amount

Count

12 mo. Cum Loss

165,325.53

Next Index Rate

Beginning Pool

669,875,822.16

4,974

94.86%

Scheduled Principal

331,460.72

0.05%

Triggers

Unscheduled Principal

22,594,420.23

188

3.20%

Deferred Interest

0.00

0.00%

> Delinquency Trigger Event

(2)

Liquidations

252,884.77

0.04%

Delinquency Event Calc

(1)

14,678,170.12

646,697,056

2.27%

Repurchases

0.00

0.00%

Ending Pool

646,697,056.49

4,782

91.58%

> Loss Trigger Event?

(3)

Average Loan Balance

135,235.69

Cumulative Loss

165,326

0.02%

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

252,884.77

Pool Composition

Realized Loss

165,325.53

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

87,559.24

Current Specified Enhancement %

(4)

27.38%

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

25,774,300.53

Extra Principal

165,325.49

FICO

500

822

621.72

OC Amount per PSA

25,608,975.05

3.63%

Cumulative Extra Principal

165,405.84

Ending OC

25,774,300.53

OC Release

N/A

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

5.081250%

5.322500%

Distribution Date: 26-Jun-06

Pool Detail and Performance Indicators Total (All Loans)

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

22-Jun-2006 08:58

Page 7 of 51

Distribution Date: 26-Jun-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

5,731,037

363,141,574

1.59%

WAC - Current

7.77%

7.09%

7.20%

Cum Scheduled Principal

661,607.39

6 mo. Rolling Average

4,298,278

367,168,258

1.19%

WAC - Original

7.79%

7.12%

7.23%

Cum Unscheduled Principal

30,071,960.76

12 mo. Rolling Average

4,298,278

367,168,258

1.19%

WAL - Current

303.92

352.02

343.96

Cum Liquidations

150,521.42

Loss Levels

Amount

Count

WAL - Original

305.25

355.06

346.97

Cum Deferred Interest

0.00

3 mo. Cum Loss

60,881.29

6 mo. Cum loss

60,881.29

Current Index Rate

Current

Amount

Count

12 mo. Cum Loss

60,881.29

Next Index Rate

Beginning Pool

363,626,659.55

2,305

94.83%

Scheduled Principal

162,507.85

0.04%

Triggers

Unscheduled Principal

10,745,602.27

2.80%

Deferred Interest

0.00

0.00%

> Delinquency Trigger Event

(2)

Liquidations

150,521.42

0.04%

Delinquency Event Calc

(1)

8,185,609.90

352,568,028

2.32%

Repurchases

0.00

0.00%

Ending Pool

352,568,028.06

2,226

91.95%

> Loss Trigger Event?

(3)

Average Loan Balance

158,386.36

Cumulative Loss

N/A

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

150,521.42

Pool Composition

Realized Loss

60,881.29

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

89,640.13

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

623.55

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

22-Jun-2006 08:58

Page 8 of 51

Distribution Date: 26-Jun-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

6,537,277

304,278,324

2.15%

WAC - Current

7.43%

7.17%

7.21%

Cum Scheduled Principal

686,272.43

6 mo. Rolling Average

5,020,701

307,847,062

1.65%

WAC - Original

7.43%

7.18%

7.22%

Cum Unscheduled Principal

27,775,438.98

12 mo. Rolling Average

5,020,701

307,847,062

1.65%

WAL - Current

321.97

352.04

346.68

Cum Liquidations

102,363.35

Loss Levels

Amount

Count

WAL - Original

325.17

355.05

349.90

Cum Deferred Interest

0.00

3 mo. Cum Loss

104,444.24

6 mo. Cum loss

104,444.24

Current Index Rate

Current

Amount

Count

12 mo. Cum Loss

104,444.24

Next Index Rate

Beginning Pool

306,249,162.61

2,669

94.90%

Scheduled Principal

168,952.87

0.05%

Triggers

Unscheduled Principal

11,848,817.96

111

3.67%

Deferred Interest

0.00

0.00%

> Delinquency Trigger Event

(2)

Liquidations

102,363.35

0.03%

Delinquency Event Calc

(1)

6,492,560.22

294,129,028

2.21%

Repurchases

0.00

0.00%

Ending Pool

294,129,028.43

2,556

91.15%

> Loss Trigger Event?

(3)

Average Loan Balance

115,073.95

Cumulative Loss

N/A

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

102,363.35

Pool Composition

Realized Loss

104,444.24

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

(2,080.89)

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

619.52

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

22-Jun-2006 08:58

Page 9 of 51

I-A-1

Act/360

178,432,501.78

5.161250000%

818,608.67

0.00

818,608.67

0.00

I-A-2

Act/360

74,638,000.00

5.281250000%

350,383.94

0.00

350,383.94

0.00

I-A-3

Act/360

14,310,000.00

5.401250000%

68,703.90

0.00

68,703.90

0.00

II-A

Act/360

225,253,019.85

5.281250000%

1,057,437.79

0.00

1,057,437.79

0.00

M-1

Act/360

32,836,000.00

5.481250000%

159,984.29

0.00

159,984.29

0.00

M-2

Act/360

26,127,000.00

5.491250000%

127,528.79

0.00

127,528.79

0.00

M-3

Act/360

15,888,000.00

5.511250000%

77,833.55

0.00

77,833.55

0.00

M-4

Act/360

13,770,000.00

5.681250000%

69,538.50

0.00

69,538.50

0.00

M-5

Act/360

13,064,000.00

5.681250000%

65,973.20

0.00

65,973.20

0.00

M-6

Act/360

12,004,000.00

5.811250000%

62,007.33

0.00

62,007.33

0.00

M-7

Act/360

10,945,000.00

6.481250000%

63,055.36

0.00

63,055.36

0.00

M-8

Act/360

9,886,000.00

6.631250000%

58,272.48

0.00

58,272.48

0.00

M-9

Act/360

8,121,000.00

6.977380000%

50,367.39

2,554.46

0.00

52,921.85

0.00

Yes

M-10

Act/360

8,827,000.00

6.977380000%

54,746.09

2,776.53

0.00

57,522.62

0.00

Yes

30/360

669,875,822.16

1.684560000%

940,374.26

254,926.24

0.00

1,195,300.50

1,024,644.03

0.00

100.00

0.000000000%

0.00

183,862.62

0.00

183,862.62

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

644,101,621.63

4,024,815.54

444,119.85

0.00

4,468,935.39

4,298,278.92

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: 26-Jun-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-HE2

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

22-Jun-2006 08:58

Page 10 of 51

I-A-1

23-Jun-06

25-May-06

26-Jun-06

0.00

I-A-2

23-Jun-06

25-May-06

26-Jun-06

0.00

I-A-3

23-Jun-06

25-May-06

26-Jun-06

0.00

II-A

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

M-6

23-Jun-06

25-May-06

26-Jun-06

0.00

M-7

23-Jun-06

25-May-06

26-Jun-06

0.00

M-8

23-Jun-06

25-May-06

26-Jun-06

0.00

M-9

23-Jun-06

25-May-06

26-Jun-06

0.00

2,554.46

0.00

M-10

31-May-06

25-May-06

26-Jun-06

0.00

2,776.53

0.00

31-May-06

1-May-06

1-Jun-06

0.00

254,926.24

0.00

31-May-06

1-May-06

1-Jun-06

0.00

183,862.62

0.00

R-1

31-May-06

1-May-06

1-Jun-06

0.00

R-II

31-May-06

1-May-06

1-Jun-06

0.00

R-III

31-May-06

25-May-06

26-Jun-06

0.00

31-May-06

1-May-06

1-Jun-06

0.00

R-IV

31-May-06

25-May-06

26-Jun-06

0.00

R-V

31-May-06

25-May-06

26-Jun-06

0.00

R-VI

31-May-06

25-May-06

26-Jun-06

0.00

Total

0.00

183,862.62

0.00

260,257.23

0.00

Prior Interest Due

Date

Current Interest

Due Date

Prior Shortfall

Reimbursement

Other Interest

Proceeds

(1)

Class

Interest Rate

SWAP Agreement

Deposits from YM

Agreement

Prior Int Carry-Fwd

Shortfall

Distribution Date: 26-Jun-06

Asset-Backed Certificates

Series 2006-HE2

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

22-Jun-2006 08:58

Page 11 of 51

I-A-1

198,258,000.00

178,432,501.78

162,507.85

10,835,242.40

79,006.37

0.00

167,355,745.16

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

225,253,019.85

168,952.87

11,846,737.07

86,319.11

0.00

213,151,010.80

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

669,875,822.16

0.00

646,697,056.49

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

644,101,621.63

331,460.72

22,681,979.46

165,325.49

0.00

620,922,855.96

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 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.

22-Jun-2006 08:58

Page 12 of 51

Class

CUSIP

Fitch

Moody's

DBRS

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

Ratings Information

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

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

22-Jun-2006 08:58

Page 13 of 51

Type

Count

Count (%)

Scheduled UPB

Sched UPB (%)

Arrears

Arrears (%)

REO Book Value

4521

90.8926%

615,545,770.66

94.1841%

0.00

0.0000%

0.00

168

3.3776%

23,064,375.36

3.5291%

0.00

0.0000%

0.00

1.4877%

9,629,770.23

1.4734%

0.00

0.0000%

0.00

90+

0.5830%

2,696,538.00

0.4126%

0.00

0.0000%

0.00

BKY0

0.0201%

123,249.37

0.0189%

0.00

0.0000%

0.00

BKY30

0.0201%

50,193.90

0.0077%

0.00

0.0000%

0.00

BKY60

0.0201%

56,478.10

0.0086%

0.00

0.0000%

0.00

BKY90+

0.0402%

245,877.56

0.0376%

0.00

0.0000%

0.00

F/C30

0.0201%

217,729.54

0.0333%

0.00

0.0000%

0.00

F/C90+

0.3619%

1,926,104.82

0.2947%

0.00

0.0000%

0.00

PIF

158

3.1765%

0.00

0.0000%

0.00

0.0000%

0.00

Total (Prior Month End):

4974

100.0000%

653,556,087.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

294

5.9107%

37,887,067.00

5.7971%

0.00

0.0000%

0.00

2111

91.5835%

336,086,472.16

93.9708%

0.00

0.0000%

0.00

3.5141%

13,109,967.76

3.6656%

0.00

0.0000%

0.00

1.4751%

5,473,921.86

1.5305%

0.00

0.0000%

0.00

90+

0.5640%

1,490,509.38

0.4168%

0.00

0.0000%

0.00

BKY90+

0.0868%

245,877.56

0.0687%

0.00

0.0000%

0.00

F/C30

0.0434%

217,729.54

0.0609%

0.00

0.0000%

0.00

F/C90+

0.2603%

1,025,342.96

0.2867%

0.00

0.0000%

0.00

PIF

2.4729%

0.00

0.0000%

0.00

0.0000%

0.00

Total (Prior Month End):

2305

100.0000%

357,649,821.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

137

5.9436%

21,563,349.00

6.0292%

0.00

0.0000%

0.00

F/C Quick Sale

Value

Total

Group 1

Distribution Date: 26-Jun-06

End of Month Balance Reporting

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

22-Jun-2006 08:58

Page 14 of 51

Type

Count

Count (%)

Scheduled UPB

Sched UPB (%)

Arrears

Arrears (%)

REO Book Value

F/C Quick Sale

Value

Distribution Date: 26-Jun-06

End of Month Balance Reporting

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

2410

90.2960%

279,459,298.50

94.4418%

0.00

0.0000%

0.00

3.2596%

9,954,407.60

3.3640%

0.00

0.0000%

0.00

1.4987%

4,155,848.37

1.4044%

0.00

0.0000%

0.00

90+

0.5995%

1,206,028.62

0.4076%

0.00

0.0000%

0.00

BKY0

0.0375%

123,249.37

0.0417%

0.00

0.0000%

0.00

BKY30

0.0375%

50,193.90

0.0170%

0.00

0.0000%

0.00

BKY60

0.0375%

56,478.10

0.0191%

0.00

0.0000%

0.00

F/C90+

0.4496%

900,761.86

0.3044%

0.00

0.0000%

0.00

PIF

101

3.7842%

0.00

0.0000%

0.00

0.0000%

0.00

Total (Prior Month End):

2669

100.0000%

295,906,266.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

157

5.8824%

16,323,718.00

5.5165%

0.00

0.0000%

0.00

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

Group 2

22-Jun-2006 08:58

Page 15 of 51

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

26-Jun-06

4,488

608,954,511

168

23,064,375

9,361,999

2,696,538

475,799

2,143,834

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

26-Jun-06

93.85%

94.16%

3.51%

3.57%

1.53%

1.45%

0.61%

0.42%

0.10%

0.07%

0.40%

0.33%

0.00%

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: 26-Jun-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

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

447

42,499,432

724,727

367,147

158,987

133,788

343,544

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

26-Jun-06

96.13%

96.09%

2.58%

1.64%

0.43%

0.83%

0.43%

0.36%

0.22%

0.30%

0.22%

0.78%

0.00%

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

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

221

13,890,520

537,305

223,195

297,250

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

26-Jun-06

92.86%

92.92%

3.36%

3.59%

1.68%

1.49%

2.10%

1.99%

0.00%

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

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

1,120

220,744,679

10,025,851

4,272,242

984,702

112,090

648,674

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

26-Jun-06

93.10%

93.22%

4.07%

4.23%

2.00%

1.80%

0.42%

0.08%

0.05%

0.33%

0.27%

0.00%

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.

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

302

54,137,819

1,822,085

343,566

49,571

250,855

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

26-Jun-06

94.38%

95.64%

3.75%

3.22%

0.94%

0.61%

0.31%

0.09%

0.00%

0.63%

0.44%

0.00%

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.

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

490

45,399,648

1,281,042

566,884

55,938

48,517

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

26-Jun-06

95.89%

95.88%

2.74%

2.71%

0.98%

1.20%

0.20%

0.12%

0.00%

0.20%

0.10%

0.00%

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

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

139

4,818,493

123,385

54,837

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

26-Jun-06

97.20%

96.43%

2.10%

2.47%

0.00%

0.70%

1.10%

0.00%

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

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

1,387

168,404,207

7,359,456

3,366,281

978,057

229,921

794,337

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

26-Jun-06

92.22%

92.97%

3.92%

4.06%

2.19%

1.86%

0.80%

0.54%

0.20%

0.13%

0.66%

0.44%

0.00%

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.

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

382

59,059,713

1,190,524

222,683

117,197

57,908

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

26-Jun-06

95.98%

97.38%

2.76%

1.96%

0.50%

0.37%

0.50%

0.19%

0.00%

0.25%

0.10%

0.00%

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.

22-Jun-2006 08:58

Page 24 of 51

Balance

26-Jun-06

217,730

1,926,105

123,249

50,194

56,478

245,878

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

26-Jun-06

0.00%

0.02%

0.03%

0.00%

0.38%

0.30%

0.00%

0.02%

0.01%

0.02%

0.01%

0.04%

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: 26-Jun-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

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

343,544

133,788

25-May-06

393,788

133,866

25-Apr-06

27-Mar-06

26-Jun-06

0.00%

0.22%

0.78%

0.00%

0.22%

0.30%

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

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

25-May-06

25-Apr-06

27-Mar-06

26-Jun-06

0.00%

25-May-06

0.00%

25-Apr-06

0.00%

27-Mar-06

0.00%

Group I Loans Fixed 2nd Lien

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

217,730

430,944

112,090

25-May-06

678,610

112,150

25-Apr-06

27-Mar-06

26-Jun-06

0.00%

0.08%

0.09%

0.00%

0.25%

0.18%

0.00%

0.08%

0.05%

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

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

250,855

25-May-06

114,113

25-Apr-06

27-Mar-06

26-Jun-06

0.00%

0.63%

0.44%

0.00%

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

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

48,517

25-May-06

25-Apr-06

27-Mar-06

26-Jun-06

0.00%

0.20%

0.10%

0.00%

25-May-06

0.00%

25-Apr-06

0.00%

27-Mar-06

0.00%

Group II Loans Fixed 1st Lien

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

25-May-06

25-Apr-06

27-Mar-06

26-Jun-06

0.00%

25-May-06

0.00%

25-Apr-06

0.00%

27-Mar-06

0.00%

Group II Loans Fixed 2nd Lien

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

794,337

123,249

50,194

56,478

25-May-06

1,593,394

173,513

56,515

25-Apr-06

179,886

225,141

27-Mar-06

56,588

26-Jun-06

0.00%

0.66%

0.44%

0.00%

0.07%

0.03%

0.07%

0.03%

0.00%

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

22-Jun-2006 08:58

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: 26-Jun-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

26-Jun-06

57,908

25-May-06

53,745

25-Apr-06

27-Mar-06

26-Jun-06

0.00%

0.25%

0.10%

0.00%

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

22-Jun-2006 08:58

Page 33 of 51

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

26-Jun-06

4,782

646,697,056

188

22,567,743

0.00

87,559.24

165,326

345

7.72%

7.21%

25-May-06

4,974

669,875,822

15,451,975

0.00

346

7.73%

7.22%

25-Apr-06

5,065

685,686,817

11,732,398

0.00

347

7.73%

7.23%

27-Mar-06

5,140

697,801,583

7,928,846

0.00

348

7.73%

7.23%

26-Jun-06

465

44,227,624

774,704

0.00

336

7.53%

7.03%

25-May-06

480

45,047,601

221,845

0.00

337

7.53%

7.03%

25-Apr-06

484

45,317,089

208,141

0.00

338

7.53%

7.03%

27-Mar-06

488

45,570,844

421,497

0.00

339

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: 26-Jun-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

22-Jun-2006 08:58

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: 26-Jun-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

26-Jun-06

238

14,948,271

578,046

0.00

211

10.42%

9.91%

25-May-06

246

15,536,032

327,391

0.00

212

10.42%

9.91%

25-Apr-06

250

15,872,498

345,979

0.00

212

10.42%

9.91%

27-Mar-06

253

16,228,051

168,253

0.00

212

10.42%

9.92%

26-Jun-06

1,203

236,788,237

7,811,640

0.00

91,247.72

1,103

352

7.66%

7.15%

25-May-06

1,247

244,771,882

8,018,178

0.00

353

7.68%

7.17%

25-Apr-06

1,281

252,883,385

4,078,698

0.00

354

7.68%

7.18%

27-Mar-06

1,299

257,060,569

2,317,691

0.00

355

7.68%

7.17%

Group I Loans Fixed 2nd Lien

Group I Loans 228 ARM

22-Jun-2006 08:58

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: 26-Jun-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

26-Jun-06

320

56,603,896

1,577,220

0.00

-1,607.59

59,778

351

7.36%

6.86%

25-May-06

332

58,271,145

855,375

0.00

352

7.36%

6.86%

25-Apr-06

339

59,157,064

1,195,556

0.00

353

7.40%

6.89%

27-Mar-06

343

60,388,845

1,089,407

0.00

354

7.41%

6.90%

26-Jun-06

511

47,352,029

1,266,738

0.00

333

7.70%

7.20%

25-May-06

529

48,667,682

694,660

0.00

334

7.70%

7.19%

25-Apr-06

536

49,411,058

89,827

0.00

336

7.70%

7.20%

27-Mar-06

538

49,550,971

108,094

0.00

337

7.70%

7.20%

Group II Loans Fixed 1st Lien

Group I Loans 327 ARM

22-Jun-2006 08:58

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: 26-Jun-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

26-Jun-06

143

4,996,716

79,689

0.00

214

10.18%

9.67%

25-May-06

146

5,079,819

0.00

215

10.18%

9.67%

25-Apr-06

146

5,082,707

123,720

0.00

216

10.18%

9.67%

27-Mar-06

150

5,210,569

21,335

0.00

216

10.18%

9.67%

26-Jun-06

1,504

181,132,259

8,838,283

0.00

-2,080.89

104,444

352

7.84%

7.33%

25-May-06

1,584

190,186,965

4,412,179

0.00

353

7.84%

7.34%

25-Apr-06

1,611

194,704,380

4,454,455

0.00

354

7.85%

7.34%

27-Mar-06

1,642

199,270,896

3,451,551

0.00

355

7.85%

7.34%

Group II Loans Fixed 2nd Lien

Group II Loans 228 ARM

22-Jun-2006 08:58

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: 26-Jun-06

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

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

26-Jun-06

398

60,648,025

1,641,423

0.00

352

7.18%

6.68%

25-May-06

410

62,314,697

922,346

0.00

353

7.19%

6.68%

25-Apr-06

418

63,258,636

1,236,022

0.00

354

7.18%

6.68%

27-Mar-06

427

64,520,837

351,018

0.00

355

7.19%

6.68%

Group II Loans 327 ARM

22-Jun-2006 08:58

Page 38 of 51

SMM (Single Monthly Mortality)

Total

Current Period

3.37%

3-Month Average

2.44%

6-Month Average

2.11%

12-Month Average

2.11%

Average Since Cut-Off

2.11%

CPR (Conditional Prepayment Rate)

Total

Current Period

33.73%

3-Month Average

25.36%

6-Month Average

22.19%

12-Month Average

22.19%

Average Since Cut-Off

22.19%

PSA (Public Securities Association)

Total

Current Period

562%

3-Month Average

423%

6-Month Average

370%

12-Month Average

370%

Average Since Cut-Off

370%

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 I Trust

Asset-Backed Certificates

Series 2006-HE2

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

22-Jun-2006 08:58

Page 39 of 51

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

11,000

50,000

578

12.09%

24,198,747

3.74%

11,000

50,000

591

11.39%

24,679,595

3.49%

50,000

58,000

1,216

25.43%

65,269,519

10.09%

50,000

58,000

1,350

26.01%

72,504,200

10.27%

58,000

66,000

344

7.19%

20,547,622

3.18%

58,000

66,000

396

7.63%

23,672,097

3.35%

66,000

74,000

1.76%

5,878,696

0.91%

66,000

74,000

1.64%

5,959,232

0.84%

74,000

82,000

100

2.09%

7,781,126

1.20%

74,000

82,000

105

2.02%

8,186,677

1.16%

82,000

88,000

1.51%

6,129,218

0.95%

82,000

88,000

1.50%

6,642,691

0.94%

88,000

130,000

571

11.94%

62,243,798

9.62%

88,000

130,000

603

11.62%

65,693,998

9.30%

130,000

172,000

496

10.37%

74,171,409

11.47%

130,000

172,000

528

10.17%

78,964,863

11.18%

172,000

214,000

385

8.05%

74,058,440

11.45%

172,000

214,000

427

8.23%

82,056,909

11.62%

214,000

256,000

269

5.63%

63,081,333

9.75%

214,000

256,000

295

5.68%

69,266,901

9.81%

256,000

300,000

195

4.08%

54,085,888

8.36%

256,000

300,000

213

4.10%

59,130,945

8.37%

300,000

800,000

472

9.87%

189,251,261

29.26%

300,000

990,000

519

10.00%

209,387,111

29.65%

4,782

100.00%

646,697,056

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

4.75%

6.50%

482

10.08%

109,277,955

16.90%

4.50%

6.55%

511

9.85%

116,206,931

16.46%

6.50%

6.80%

235

4.91%

47,201,940

7.30%

6.55%

6.84%

290

5.59%

56,806,041

8.04%

6.80%

7.09%

386

8.07%

71,837,003

11.11%

6.84%

7.14%

421

8.11%

78,827,800

11.16%

7.09%

7.39%

324

6.78%

53,039,620

8.20%

7.14%

7.44%

340

6.55%

54,641,470

7.74%

7.39%

7.69%

389

8.13%

56,577,698

8.75%

7.44%

7.73%

450

8.67%

64,051,362

9.07%

7.69%

8.05%

605

12.65%

82,193,153

12.71%

7.73%

8.05%

584

11.25%

83,924,175

11.88%

8.05%

8.41%

432

9.03%

51,108,035

7.90%

8.05%

8.41%

460

8.86%

54,253,263

7.68%

8.41%

8.77%

506

10.58%

51,482,523

7.96%

8.41%

8.77%

545

10.50%

56,672,270

8.03%

8.77%

9.13%

362

7.57%

36,247,005

5.60%

8.77%

9.13%

398

7.67%

40,173,981

5.69%

9.13%

9.48%

297

6.21%

26,598,771

4.11%

9.13%

9.48%

319

6.15%

28,875,935

4.09%

9.48%

9.88%

288

6.02%

27,224,047

4.21%

9.48%

9.89%

339

6.53%

33,158,549

4.70%

9.88%

13.73%

476

9.95%

33,909,307

5.24%

9.89%

13.73%

533

10.27%

38,553,442

5.46%

4,782

100.00%

646,697,056

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: 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

22-Jun-2006 08:58

Page 40 of 51

2,707

417,920,496

64.62%

352.21

7.72%

2,976

462,325,181

65.47%

359.83

7.75%

718

117,251,921

18.13%

351.39

7.26%

776

126,415,220

17.90%

359.27

7.29%

976

91,579,653

14.16%

334.45

7.60%

1,031

95,764,809

13.56%

342.66

7.62%

381

19,944,986

3.08%

211.52

10.35%

407

21,640,010

3.06%

217.85

10.36%

4,782

646,697,056

100.00%

5,190

706,145,220

100.00%

3,823

494,165,000

76.41%

345.31

7.70%

4,156

539,669,917

76.42%

353.15

7.73%

470

85,265,378

13.18%

345.37

7.63%

501

92,186,732

13.05%

353.23

7.63%

267

39,681,100

6.14%

344.02

7.71%

294

43,822,650

6.21%

351.90

7.75%

219

27,315,314

4.22%

344.65

8.00%

236

30,195,428

4.28%

352.61

8.09%

270,264

0.04%

334.54

8.85%

270,494

0.04%

341.60

8.85%

4,782

646,697,056

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: 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)

228 ARM
327 ARM

Fixed 1st Lien

Fixed 2nd Lien

22-Jun-2006 08:58

Page 41 of 51

Mortgage Loan Characteristics Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 26-Jun-06

3,891

577,725,521

89.33%

344.85

7.62%

4,202

629,124,652

89.09%

352.65

7.65%

842

63,586,935

9.83%

347.83

8.38%

934

71,334,164

10.10%

356.24

8.41%

5,384,600

0.83%

351.79

8.62%

5,686,404

0.81%

357.51

8.61%

4,782

646,697,056

100.00%

5,190

706,145,220

100.00%

2,305

354,664,960

54.84%

347.52

7.56%

2,549

398,120,476

56.38%

355.39

7.60%

2,233

263,467,842

40.74%

342.59

7.89%

2,382

277,464,600

39.29%

350.14

7.93%

244

28,564,254

4.42%

340.54

7.74%

259

30,560,144

4.33%

349.05

7.79%

4,782

646,697,056

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

22-Jun-2006 08:58

Page 42 of 51

Mortgage Loan Characteristics Part II

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 26-Jun-06

4,782

646,697,056

100.00%

345.20

7.70%

5,190

706,145,220

100.00%

353.05

7.73%

Unknown

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

22-Jun-2006 08:58

Page 43 of 51

WAMM

WAC

California

631

174,662,737

27.01%

343

7.16%

Florida

353

50,532,258

7.81%

346

7.79%

Georgia

297

38,113,507

5.89%

346

8.21%

Maryland

177

34,614,009

5.35%

350

7.39%

Minnesota

172

28,776,557

4.45%

351

7.87%

Michigan

325

24,469,369

3.78%

347

8.23%

Ohio

314

22,858,916

3.53%

340

7.92%

Illinois

178

22,201,187

3.43%

348

7.97%

Texas

279

21,658,438

3.35%

337

8.17%

Arizona

146

21,190,280

3.28%

345

7.55%

Remaining

1,910

207,619,799

32.10%

346

7.92%

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: 26-Jun-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

22-Jun-2006 08:58

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

26-Jun-06

252,884.77

87,559.24

165,325.53

0.00

165,325.53

25-May-06

0.00

25-Apr-06

0.00

27-Mar-06

0.00

Total

252,884.77

87,559.24

165,325.53

0.00

165,325.53

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

Total (All Loans)

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

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

22-Jun-2006 08:58

Page 45 of 51

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 26-Jun-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

26-Jun-06

150,521.42

89,640.13

60,881.29

0.00

60,881.29

25-May-06

0.00

25-Apr-06

0.00

27-Mar-06

0.00

Total

150,521.42

89,640.13

60,881.29

0.00

60,881.29

Group I Loans

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

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

Claims on Prior Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

22-Jun-2006 08:58

Page 46 of 51

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 26-Jun-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

26-Jun-06

102,363.35

(2,080.89)

104,444.24

0.00

104,444.24

25-May-06

0.00

25-Apr-06

0.00

27-Mar-06

0.00

Total

102,363.35

(2,080.89)

104,444.24

0.00

104,444.24

Claims on Prior Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

Group II Loans

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

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

22-Jun-2006 08:58

Page 47 of 51

15865169

200606

92,350.81

91,247.72

1,103.09

15828372

200606

58,170.61

(1,607.59)

58,170.61

59,778.20

15829005

200606

52,551.43

(372.24)

52,551.43

52,923.67

15828658

200606

49,811.92

(1,708.65)

49,811.92

51,520.57

Current Total

252,884.77

87,559.24

161,637.05

165,325.53

Cumulative

252,884.77

87,559.24

161,637.05

165,325.53

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

0.00

1,103.09

59,778.20

52,923.67

51,520.57

165,325.53

3,688.48

0.00

1,607.59

372.24

1,708.65

Distribution Date: 26-Jun-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

22-Jun-2006 08:58

Page 48 of 51

MDR (monthly Default Rate)

Total

Current Period

0.04%

3-Month Average

0.01%

6-Month Average

0.01%

12-Month Average

0.00%

Average Since Cut-Off

0.01%

CDR (Conditional Default Rate)

Total

Current Period

0.47%

3-Month Average

0.16%

6-Month Average

0.08%

12-Month Average

0.04%

Average Since Cut-Off

0.12%

SDA (Standard Default Assumption)

Total

Current Period

15.61%

3-Month Average

5.20%

6-Month Average

2.60%

12-Month Average

1.30%

Average Since Cut-Off

3.90%

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 I Trust

Asset-Backed Certificates

Series 2006-HE2

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

22-Jun-2006 08:58

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: 26-Jun-06

Material Breaches Detail

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

22-Jun-2006 08:58

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: 26-Jun-06

Modified Loan Detail

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2006-HE2

22-Jun-2006 08:58

Page 51 of 51

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