SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

UNITED STATES

FORM 10-D

ASSET-BACKED ISSUER

THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from

(Exact name of depositor as specified in its charter)

(State or other jurisdiction of incorporation or organization of the issuing entity)

(Telephone number, including area code)

0 1 - A p r - 0 6

Structured Asset Securities Corporation

(I.R.S. Employer Identification No.)

Not Applicable

(Address of principal executive offices of issuing entity)

(Zip Code)

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 13(d) OF

02-Mar-06

(Exact name of issuing entity as specified in its charter)

Commission File Number of Issuing entity:

333-127589-34

Commission File Number of depositor:

333-127589

(Exact name of sponsor as specified in its charter)

Lehman Brothers Holdings Inc.

(Former name, former address, if changed since last report)

No Change

Lehman XS Trust 2006-3

745 Seventh Avenue, 7th Floor

New York, New York

10019

(212) 526-7000

Delaware

Registered/reporting pursuant to (check one)

Section 12(b)

Section 12(g)

Section 15(d)

Name of exchange

Title of Class

Has the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days?

YES

(If Section 12(b))

PART I - DISTRIBUTION INFORMATION

Item 1. Distribution and Pool Performance Information.

Item 9. Exhibits.

(b) Exhibit-1 : Distribution Statement

see Exhibit-1

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

Date:

(Signature)

E. Todd Whittemore

Executive Vice President

E. Todd Whittemore

/s/ :

5/02/2006

PART II - OTHER INFORMATION

Lehman XS Trust 2006-3

(Issuing Entity)

Aurora Loan Services LLC

(Servicer)

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[_X_]

EXHIBIT INDEX

Exhibit Number

Description

EX-1

Distribution Statement

Lehman XS Trust 2006-3 10-D