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~~

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 30, 2007

BEAR STEARNS ASSET BACKED SECURITIES I TRUST 2007-HE5

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

BEAR STEARNS ASSET BACKED SECURITIES I LLC

(Exact name of depositor as specified in its charter)

EMC MORTGAGE CORPORATION

(Exact name of sponsor as specified in its charter)

Delaware	333-131374-57	20-0842986
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
383 Madison Avenue New York, New York		10179
(Address of Principal Executive Offices)		(Zip Code)

~~Registrant’s~~Registrants telephone number, including area code, is (212) 272-2000

Check the appropriate box below if the Form 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):

[ _] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ _] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

[ _] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ _] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 9.01.	Financial Statements and Exhibits.
(a)	Not applicable
(b)	Not applicable
(c)	Not applicable
(d)	Exhibits:
	5.1	Opinion of Thacher Proffitt & Wood LLP dated May 30, 2007, relating to Bear Stearns Asset Backed Securities I Trust 2007-HE5
	8.1	Opinion of Thacher Proffitt & Wood LLP (contained in Exhibit 5.1)
	23.1	Consent of Thacher Proffitt & Wood LLP (contained in Exhibit 5.1)

Item 9.01.

Financial Statements and Exhibits.

~~SIGNATURES~~(a) Not applicable (b) Not applicable (c) Not applicable (d) Exhibits:

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.

	Exhibit No.	Description
	1.1	The Underwriting Agreement, dated April 13, 2006, between Bear Stearns Asset Backed Securities I LLC (the “Depositor”) and Bear, Stearns & Co. Inc. (“Bear Stearns”) and the related Terms Agreement, dated as of April 30, 2007, (together, the “Underwriting Agreement”), between the Depositor and Bear Stearns.

	Exhibit No.	Description
	4.1	Pooling and Servicing Agreement, dated as of May 1, 2007, among Bear Stearns Asset Backed Securities I LLC, as depositor, EMC Mortgage Corporation, as seller and as master servicer, and LaSalle Bank National Association, as trustee.

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

BEAR STEARNS ASSET BACKED

SECURITIES I LLC

By:

/s/ Baron Silverstein

Name:

Baron Silverstein

Title:

Vice President

Dated: ~~May~~June 3015, 2007

EXHIBIT INDEX

Item 601 (a) of Regulation S-K Exhibit No.	Sequentially Numbered Description

1.1	The Underwriting Agreement, dated April 13, 2006, between Bear Stearns Asset Backed Securities I LLC (the “Depositor”) and Bear, Stearns & Co. Inc. (“Bear Stearns”) and the related Terms Agreement, dated as of April 30, 2007, (together, the “Underwriting Agreement”), between the Depositor and Bear Stearns.
4.1	Pooling and Servicing Agreement, dated as of May 1, 2007, among Bear Stearns Asset Backed Securities I LLC, as depositor, EMC Mortgage Corporation, as seller and as master servicer and LaSalle Bank National Association, as trustee.

Filing Compare · Bear Stearns Asset Backed Securities I Trust 2007-HE5