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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	January 17, 2007
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  	ECC Capital Corporation
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Maryland
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  	001-32430
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  	841642470
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	1833 Alton Parkway, Irvine, California
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  	&nbsp;
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  	92606
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	(949) 856-8300
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  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:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 1.01 Entry into a Material Definitive Agreement.
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  On January 17, 2007, Encore Credit Corp., the registrant&#x2019;s wholly owned subsidiary, entered into a Separation and General Release Agreement (the "Separation Agreement") with Troy Gotschall, the registrant&#x2019;s Executive Vice President and Chief Production Officer and the President and Chief Executive Officer of Encore Credit Corp., in connection with Mr. Gotschall&#x2019;s resignation of employment effective January 15, 2007 (the "Resignation Date").  The Separation Agreement terminated and superseded Mr. Gotschall&#x2019;s employment agreement, dated as of July 1, 2005 (the "Employment Agreement"), effective as of the Resignation Date.   Pursuant to the Separation Agreement, Mr. Gotschall will be entitled to receive a one-time payment of $810,000, less applicable withholding (the "Separation Payment"), which represents a partial payment for the amounts owed to Mr. Gotschall under the terms of the Employment Agreement.  In addition to the Separation Payment, Mr. Gotschall&#x2019;s outstanding unvested shares of restricted stock immediately vest as of the Resignation Date.<br><br>The foregoing summary of certain terms of the Separation Agreement is qualified in its entirety by the complete text of the Separation Agreement.  The Separation Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K.<br>
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  	Item 1.02 Termination of a Material Definitive Agreement.
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  As described in Item 1.01 of this Current Report on Form 8-K, effective January 15, 2007, Mr. Gotschall's Employment Agreement with the registrant was terminated and superseded by the Separation Agreement.
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  <B>
  	Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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  As described in Item 1.01 of this Current Report on Form 8-K, effective January 15, 2007, Mr. Gotschall's Employment Agreement with the registrant was terminated and superseded by the Separation Agreement.
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  	Item 9.01 Financial Statements and Exhibits.
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  (d) Exhibits. <br><br>  <br>10.1   Separation and General Release Agreement, dated as of January 17, 2007, by and between Encore Credit Corp. and Troy Gotschall.
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  	SIGNATURES
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  	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.
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  	ECC Capital Corporation
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  	&nbsp;&nbsp;
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  <I>
  	January 23, 2007
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  <I>
  	By:
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  <I>
  	/s/ Shahid S. Asghar
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  	&nbsp;
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  <I>
  	Name: Shahid S. Asghar
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  <I>
  	Title: President & Co-Chief Executive Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	&nbsp;
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  	Description
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  	10.1
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  	&nbsp;
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  Separation and General Release Agreement, dated as of January 17, 2007, by and between Encore Credit Corp. and Troy Gotschall.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_17694.htm", "description": "LIVE FILING", "secsgml_size_bytes": 12183}]
metadata_filer: {"company-data": {"conformed-name": "ECC Capital CORP", "cik": "0001300317", "assigned-sic": "6798", "irs-number": "841642470"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32430", "film-number": "07547104"}, "business-address": {"street1": "1833 ALTON PARKWAY", "city": "IRVINE", "state": "CA", "zip": "92606", "phone": "9498568300"}, "mail-address": {"street1": "1833 ALTON PARKWAY", "city": "IRVINE", "state": "CA", "zip": "92606"}}
text: ECC Capital Corporation (Form: 8-K)
  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):
  January 17, 2007
  ECC Capital Corporation
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Maryland
  001-32430
  841642470
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  1833 Alton Parkway, Irvine, California
  92606
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (949) 856-8300
  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))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On January 17, 2007, Encore Credit Corp., the registrant's wholly owned subsidiary, entered into a Separation and General Release Agreement (the "Separation Agreement") with Troy Gotschall, the registrant's Executive Vice President and Chief Production Officer and the President and Chief Executive Officer of Encore Credit Corp., in connection with Mr. Gotschall's resignation of employment effective January 15, 2007 (the "Resignation Date").  The Separation Agreement terminated and superseded Mr. Gotschall's employment agreement, dated as of July 1, 2005 (the "Employment Agreement"), effective as of the Resignation Date.   Pursuant to the Separation Agreement, Mr. Gotschall will be entitled to receive a one-time payment of $810,000, less applicable withholding (the "Separation Payment"), which represents a partial payment for the amounts owed to Mr. Gotschall under the terms of the Employment Agreement.  In addition to the Separation Payment, Mr. Gotschall's outstanding unvested shares of restricted stock immediately vest as of the Resignation Date.
  The foregoing summary of certain terms of the Separation Agreement is qualified in its entirety by the complete text of the Separation Agreement.  The Separation Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K.
  Item 1.02 Termination of a Material Definitive Agreement.
  As described in Item 1.01 of this Current Report on Form 8-K, effective January 15, 2007, Mr. Gotschall's Employment Agreement with the registrant was terminated and superseded by the Separation Agreement.
  Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
  As described in Item 1.01 of this Current Report on Form 8-K, effective January 15, 2007, Mr. Gotschall's Employment Agreement with the registrant was terminated and superseded by the Separation Agreement.
  Item 9.01 Financial Statements and Exhibits.
  (d) Exhibits.
  10.1   Separation and General Release Agreement, dated as of January 17, 2007, by and between Encore Credit Corp. and Troy Gotschall.
  Top of the Form
  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.
  ECC Capital Corporation
  January 23, 2007
  By:
  /s/ Shahid S. Asghar
  Name: Shahid S. Asghar
  Title: President & Co-Chief Executive Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Separation and General Release Agreement, dated as of January 17, 2007, by and between Encore Credit Corp. and Troy Gotschall.