UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the ~~Securities Exchange Act of 1934~~

~~Date~~Securities ofExchange ~~Report -~~Act ~~May~~of ~~31, 2006~~1934

~~(Date~~October ~~of Earliest~~1, ~~Event Reported)~~2006

Date of Report (Date of earliest event reported)

POPULAR ABS, INC.

(Exact ~~Name~~name of ~~Registrant~~registrant as specified in its charter)

Delaware	~~333-115371-14~~	52333-~~2029487~~115371-14	52-2029487
(State of Incorporation)	(Commission File No.)	(IRS Employer I.D. No.)
(State or Other Jurisdiction of Incorporation		(Commission File Number)	(I.R.S. Employer Identification Number)

103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803

(Address of ~~principal~~Principal ~~executive~~Executive ~~offices~~Offices) (Zip Code)

Registrant’'s telephone number, including area code: (302) 478-6160

~~Item~~Check ~~1.01~~the appropriate ~~Entry~~box ~~Into~~below aif ~~Material~~the ~~Definitive~~Form ~~Agreement~~8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A. 2. below):

~~Effective~~o Written ascommunications ofpursuant ~~11:59~~to ~~p.m.~~Rule on425 ~~May~~under ~~31, 2006 (~~the ~~“Effective~~Securities ~~Time”),~~Act ~~Equity One, Inc., a Delaware corporation~~ (~~the~~17 ~~“Servicer”) and servicer of the mortgage loans held by~~CFR ~~the Popular ABS, Inc~~230. ~~Mortgage Pass-Through Trust 2006-B (the “Trust”~~425), transferred substantially all of its mortgage servicing operations and business to Popular Mortgage Servicing, Inc., a Delaware corporation (“PMSI”) and a wholly owned subsidiary of the Servicer’s direct parent, Popular Financial Holdings, Inc., a Delaware corporation (the “Transfer”).

Ino Soliciting ~~connection~~material ~~with~~pursuant the Transfer, the Servicer and PMSI entered into a Subservicing Agreement dated as of May 31, 2006 (the “Subservicing Agreement”), wherein as of the Effective Time the Servicer appointed PMSI as a subservicer under that certain Pooling and Servicing Agreement dated as of March 1, 2006, pertaining to ~~the~~ ~~Trust~~Rule 14a-12(~~the “Pooling and Servicing Agreement”~~b) ~~to perform substantially all~~ of the Servicer’s servicing obligations thereunder in a manner consistent with the provisions of the Pooling and Servicing Agreement and the Subservicing Agreement. The Servicer nevertheless remains contractually obligated under ~~the Pooling~~ ~~and Servicing Agreement for~~ the ~~performance~~Exchange ofAct ~~all~~(17 ofCFR its obligations thereunder, and to the extent described in the Subservicing Agreement, is entitled to indemnification by PMSI for PMSI’s negligence or willful misconduct in the performance of its obligations under the Subservicing Agreement240. ~~PMSI may terminate the Subservicing Agreement upon 90~~14a-~~days prior written notice to the Servicer.~~12(b))

Ao Pre-commencement ~~copy~~communications ~~of the~~pursuant ~~Subservicing~~to Rule ~~Agreement~~14d-2(b) isunder ~~annexed~~the ~~hereto~~Exchange asAct ~~Exhibit~~(17 99CFR 240.1.14d-2(b))

~~Item~~o Pre-commencement ~~9.01~~communications ~~Financial~~pursuant ~~Statements~~to ~~and~~Rule 13e-4(c) ~~Exhibits~~under the Exchange Act (17 CFR 240.13e-4(c))

~~(a)~~Section ~~Not~~6. Asset ~~applicable.~~Backed Securities

~~(b)~~Item ~~Not~~6.02. Change ~~applicable.~~of Servicer or Trustee

~~(c)~~On ~~Not~~October 1, 2006, the sale by JPMorgan Chase Bank, N.A. of select portions of ~~applicable~~its corporate trust business, including municipal and corporate and structured finance trusteeships, to The Bank of New York was closed. As a result of this sale, on October 1, 2006 The Bank of New York became the successor Trustee pursuant to the terms and conditions set forth in the transaction documents identified in the Prospectus Supplement filed by the Registrant.

~~(d)~~The ~~Exhibits:~~Bank of New York is a New York banking corporation and will act as the Trustee under the transaction documents. The Bank of New York has been, and currently is, acting as indenture trustee and trustee for numerous transactions and programs involving pools of residential mortgages.

~~99.1 Subservicing~~The ~~Agreement~~Prospectus ~~dated~~Supplement assets offorth ~~May~~the 31information required by Asset Backed Securities (Regulation AB), ~~2006~~17 C.F.R.¶¶ 229.1109 (c) - (f).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the ~~registrant~~Registrant ~~duly~~has duly caused this report to be signed on its behalf by the undersigned hereunto ~~duly~~ duly authorized.

POPULAR ABS, INC. ~~By: /s/ Darren Nelson Darren Nelson Senior Vice President~~

~~Dated~~By: ~~June~~/s/ Darren ~~1, 2006~~Nelson

~~Exhibit~~ Darren ~~Index~~Nelson

Exhibit		Document
99.1		Subservicing Agreement dated as of May 31, 2006.

Senior Vice President

Dated: October 2, 2006

Filing Compare · Popular ABS Mortgage Pass-Through Trust 2006-B