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 of Report (Date of earliest event reported):

                                November 15, 2006


                           FREMONT GENERAL CORPORATION
             (Exact name of registrant as specified in its charter)


            NEVADA                    001-08007                   95-2815260
----------------------------   -----------------------       -------------------
(State or other jurisdiction   (Commission File Number)         (IRS Employer
      of incorporation)                                      Identification No.)


                        2425 OLYMPIC BOULEVARD, 3RD FLOOR
                         SANTA MONICA, CALIFORNIA 90404
          (Address of principal executive offices, including zip code)


                                 (310) 315-5500
              (Registrant's telephone number, including area code)


                                 NOT APPLICABLE
          (Former name or former address, if changed since last report)

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:


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

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

[ ]  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))



<PAGE>


ITEM 5.02  DEPARTURE OF DIRECTORS OR CERTAIN  OFFICERS;  ELECTION OF  DIRECTORS;
  APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS


     On November 15, 2006, the Board of Directors of Fremont General Corporation
("Fremont" or the "Company")  approved the following actions of the Compensation
Committee  of the  Board of  Directors  (the  "Committee")  with  regard  to the
compensation of the executive officers of the Company:

     CASH BONUS:  On November 15, 2006,  the Committee  approved a one-time cash
bonus to be paid on February 2, 2007 to executive  officers of the Company.  The
one-time  cash bonus will be paid in lieu of cash  amounts  that would have been
paid if the pre-tax  earnings  targets were achieved  under the  Company's  2006
Executive Officer Annual Bonus Plan. The Committee does not expect those targets
to be achieved.  Excluded from this one-time cash bonus are:  James A. McIntyre,
Louis J. Rampino, Wayne R. Bailey and Murray L. Zoota.

     RESTRICTED  STOCK  AWARD:  On November  15, 2006,  the  Committee  approved
restricted stock awards to executive  officers of the Company.  Neither James A.
McIntyre nor Murray L. Zoota were awarded shares of restricted stock on November
15, 2006.  The grant of  restricted  stock will be made pursuant to the terms of
Fremont's  stockholder approved 2006 Performance Incentive Stock Plan, a copy of
which was previously filed as Exhibit I to Fremont's Proxy Statement on Form 14A
filed with the  Securities  and Exchange  Commission on April 13, 2006,  and the
terms of a Restricted Stock Agreement, a copy of which was filed as Exhibit 10.3
to Fremont's  Quarterly  Report on Form 10-Q for the period ended June 30, 2006,
and is  incorporated  herein by reference.  Restrictions on these shares will be
released  annually in one-third  increments  beginning  on January 1, 2008.  The
shares of restricted stock awarded include dividend rights.

     The following table sets forth  information  regarding the award levels for
the one-time  cash  bonuses and the  restricted  stock awards for the  executive
officers  named in the  Summary  Compensation  Table  included in the 2006 Proxy
Statement (the "Named Executive Officers"):

<TABLE>
<CAPTION>
                                                                                         ONE-TIME            RESTRICTED
                                                                                        CASH AWARD          STOCK AWARD
                                                                    CURRENT BASE      --------------      --------------
                     NAMED EXECUTIVE OFFICER                           SALARY         IN DOLLARS ($)      IN # OF SHARES
------------------------------------------------------------------  ------------      --------------      --------------

<S>                                                                 <C>               <C>                <C>
James A. McIntyre ................................................  $    800,000                  -0-                -0-
   Chairman of the Board
Louis J. Rampino .................................................       800,000                  -0-           125,000
   President and Chief Executive Officer
Wayne R. Bailey ..................................................       700,000                  -0-           110,000
   Executive Vice President and Chief Operating Officer
Patrick E. Lamb ..................................................       400,000      $       200,000            50,000
   Senior Vice President, Treasurer and Chief Financial Officer
Raymond G. Meyers ................................................       325,000              130,000            41,000
   Senior Vice President and Chief Administrative Officer
Murray L. Zoota ..................................................       475,000                   -0-               -0-
   Executive Vice President, Fremont Investment & Loan

</TABLE>

                                       2


<PAGE>


                                   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 hereunto duly authorized.

                                      FREMONT GENERAL CORPORATION


Date:  November 20, 2006              PATRICK E. LAMB

                                      By:/s/  PATRICK E. LAMB
                                         --------------------------------------
                                        Patrick E. Lamb
                                        Senior Vice President, Chief Financial
                                        Officer, Chief Accounting Officer and
                                        Treasurer (Principal Accounting Officer)



                                      S-1
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{"company-data": {"conformed-name": "FREMONT GENERAL CORP", "cik": "0000038984", "assigned-sic": "6022", "irs-number": "952815260", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-08007", "film-number": "061229122"}, "business-address": {"street1": "2425 OLYMPIC BOULEVARD", "street2": "3RD FLOOR", "city": "SANTA MONICA", "state": "CA", "zip": "90404", "phone": "3103155500"}, "mail-address": {"street1": "2425 OLYMPIC BOULEVARD", "street2": "3RD FLOOR", "city": "SANTA MONICA", "state": "CA", "zip": "90404"}}
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 of Report (Date of earliest event reported):

                                November 15, 2006

                           FREMONT GENERAL CORPORATION
             (Exact name of registrant as specified in its charter)

            NEVADA                    001-08007                   95-2815260
----------------------------   -----------------------       -------------------
(State or other jurisdiction   (Commission File Number)         (IRS Employer
      of incorporation)                                      Identification No.)

                        2425 OLYMPIC BOULEVARD, 3RD FLOOR
                         SANTA MONICA, CALIFORNIA 90404
          (Address of principal executive offices, including zip code)

                                 (310) 315-5500
              (Registrant's telephone number, including area code)

                                 NOT APPLICABLE
          (Former name or former address, if changed since last report)

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:

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

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

[ ]  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 5.02  DEPARTURE OF DIRECTORS OR CERTAIN  OFFICERS;  ELECTION OF  DIRECTORS;
  APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

     On November 15, 2006, the Board of Directors of Fremont General Corporation
("Fremont" or the "Company")  approved the following actions of the Compensation
Committee  of the  Board of  Directors  (the  "Committee")  with  regard  to the
compensation of the executive officers of the Company:

     CASH BONUS:  On November 15, 2006,  the Committee  approved a one-time cash
bonus to be paid on February 2, 2007 to executive  officers of the Company.  The
one-time  cash bonus will be paid in lieu of cash  amounts  that would have been
paid if the pre-tax  earnings  targets were achieved  under the  Company's  2006
Executive Officer Annual Bonus Plan. The Committee does not expect those targets
to be achieved.  Excluded from this one-time cash bonus are:  James A. McIntyre,
Louis J. Rampino, Wayne R. Bailey and Murray L. Zoota.

     RESTRICTED  STOCK  AWARD:  On November  15, 2006,  the  Committee  approved
restricted stock awards to executive  officers of the Company.  Neither James A.
McIntyre nor Murray L. Zoota were awarded shares of restricted stock on November
15, 2006.  The grant of  restricted  stock will be made pursuant to the terms of
Fremont's  stockholder approved 2006 Performance Incentive Stock Plan, a copy of
which was previously filed as Exhibit I to Fremont's Proxy Statement on Form 14A
filed with the  Securities  and Exchange  Commission on April 13, 2006,  and the
terms of a Restricted Stock Agreement, a copy of which was filed as Exhibit 10.3
to Fremont's  Quarterly  Report on Form 10-Q for the period ended June 30, 2006,
and is  incorporated  herein by reference.  Restrictions on these shares will be
released  annually in one-third  increments  beginning  on January 1, 2008.  The
shares of restricted stock awarded include dividend rights.

     The following table sets forth  information  regarding the award levels for
the one-time  cash  bonuses and the  restricted  stock awards for the  executive
officers  named in the  Summary  Compensation  Table  included in the 2006 Proxy
Statement (the "Named Executive Officers"):
ONE-TIME            RESTRICTED
                                                                                        CASH AWARD          STOCK AWARD
                                                                    CURRENT BASE      --------------      --------------
                     NAMED EXECUTIVE OFFICER                           SALARY         IN DOLLARS ($)      IN # OF SHARES
------------------------------------------------------------------  ------------      --------------      --------------
James A. McIntyre ................................................  $    800,000                  -0-                -0-
   Chairman of the Board
Louis J. Rampino .................................................       800,000                  -0-           125,000
   President and Chief Executive Officer
Wayne R. Bailey ..................................................       700,000                  -0-           110,000
   Executive Vice President and Chief Operating Officer
Patrick E. Lamb ..................................................       400,000      $       200,000            50,000
   Senior Vice President, Treasurer and Chief Financial Officer
Raymond G. Meyers ................................................       325,000              130,000            41,000
   Senior Vice President and Chief Administrative Officer
Murray L. Zoota ..................................................       475,000                   -0-               -0-
   Executive Vice President, Fremont Investment & Loan
2
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 hereunto duly authorized.

                                      FREMONT GENERAL CORPORATION

Date:  November 20, 2006              PATRICK E. LAMB

                                      By:/s/  PATRICK E. LAMB
                                         --------------------------------------
                                        Patrick E. Lamb
                                        Senior Vice President, Chief Financial
                                        Officer, Chief Accounting Officer and
                                        Treasurer (Principal Accounting Officer)

                                      S-1