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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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  	May 1, 2006
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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>
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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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  	92606
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  _________________________________<BR>
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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>
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  <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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  	Item 1.01 Entry into a Material Definitive Agreement.
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  On May 1, 2006, Encore Credit Corp., a direct wholly owned subsidiary of the registrant ("Encore"), Bravo Credit Corporation, an indirect wholly owned subsidiary of the registrant ("Bravo"), and the registrant entered into Amendment No. 9 to the Master Repurchase Agreement with Credit Suisse First Boston Mortgage Capital LLC ("Amendment No. 9").  The purpose of Amendment No. 9 was to decrease the Maximum Aggregate Purchase Price from $950 million to $700 million and to extend the Termination Date to June 30, 2006.  Amendment No. 9 is filed as Exhibit 10.1 to this Current Report on Form 8-K.<br><br>On May 1, 2006, Encore, Bravo and the registrant extended the termination date of the Amended and Restated Master Repurchase Agreement with IXIS Real Estate Capital Inc. (the "Master Repurchase Agreement").  The Master Repurchase Agreement termination date is extended from May 1, 2006 to May 15, 2006.  The Master Repurchase Agreement was filed as Exhibit 10.2 to the registrant&#x2019;s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 25, 2005.<br><br>On May 5, 2006, the registrant and Friedman, Billings, Ramsey Group, Inc. ("Friedman") entered into a letter of amendment (the "Letter of Amendment") amending that certain Registration Rights Agreement dated as of February 14, 2005, by and among Friedman, Milestone Advisors LLC and the registrant, as amended by that certain letter of amendment dated March 16, 2006 (the "Registration Rights Agreement"). The Letter of Amendment extends the "Filing Deadline" to June 19, 2006. The Registration Rights Agreement was filed as Exhibit 10.49 to the registrant&#x2019;s Registration Statement on Form S-11 filed with the Securities and Exchange Commission on February 10, 2005. The Letter of Amendment is filed as Exhibit 10.2 to this Current Report on Form 8-K.<br><br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (c) Exhibits. <br><br>  <br>10.1    Amendment No. 9 to Master Repurchase Agreement, dated as of May 1, 2006, by and between Credit Suisse First Boston Mortgage Capital LLC, Encore Credit Corp., ECC Capital Corporation and Bravo Credit Corporation.  <br><br>10.2    Letter of Amendment to Registration Rights Agreement dated as of May 5, 2006, by and between Friedman Billings, Ramsey Group, Inc. and ECC Capital Corporation.
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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>
  	May 5, 2006
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  	&nbsp;
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  	By:
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  <I>
  	/s/  Shahid S. Asghar
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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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  	Description
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  	10.1
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  	&nbsp;
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  Amendment No. 9 to Master Repurchase Agreement, dated as of May 1, 2006, by and between Credit Suisse First Boston Mortgage Capital LLC, Encore Credit Corp., ECC Capital Corporation and Bravo Credit Corporation.
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  	10.2
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  Letter of Amendment to Registration Rights Agreement dated as of May 5, 2006, by and between Friedman Billings, Ramsey Group, Inc. and ECC Capital Corporation.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_12221.htm", "description": "LIVE FILING", "secsgml_size_bytes": 12519}]
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": "06813126"}, "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):
  May 1, 2006
  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 May 1, 2006, Encore Credit Corp., a direct wholly owned subsidiary of the registrant ("Encore"), Bravo Credit Corporation, an indirect wholly owned subsidiary of the registrant ("Bravo"), and the registrant entered into Amendment No. 9 to the Master Repurchase Agreement with Credit Suisse First Boston Mortgage Capital LLC ("Amendment No. 9").  The purpose of Amendment No. 9 was to decrease the Maximum Aggregate Purchase Price from $950 million to $700 million and to extend the Termination Date to June 30, 2006.  Amendment No. 9 is filed as Exhibit 10.1 to this Current Report on Form 8-K.
  On May 1, 2006, Encore, Bravo and the registrant extended the termination date of the Amended and Restated Master Repurchase Agreement with IXIS Real Estate Capital Inc. (the "Master Repurchase Agreement").  The Master Repurchase Agreement termination date is extended from May 1, 2006 to May 15, 2006.  The Master Repurchase Agreement was filed as Exhibit 10.2 to the registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission on February 25, 2005.
  On May 5, 2006, the registrant and Friedman, Billings, Ramsey Group, Inc. ("Friedman") entered into a letter of amendment (the "Letter of Amendment") amending that certain Registration Rights Agreement dated as of February 14, 2005, by and among Friedman, Milestone Advisors LLC and the registrant, as amended by that certain letter of amendment dated March 16, 2006 (the "Registration Rights Agreement"). The Letter of Amendment extends the "Filing Deadline" to June 19, 2006. The Registration Rights Agreement was filed as Exhibit 10.49 to the registrant's Registration Statement on Form S-11 filed with the Securities and Exchange Commission on February 10, 2005. The Letter of Amendment is filed as Exhibit 10.2 to this Current Report on Form 8-K.
  Item 9.01 Financial Statements and Exhibits.
  (c) Exhibits.
  10.1    Amendment No. 9 to Master Repurchase Agreement, dated as of May 1, 2006, by and between Credit Suisse First Boston Mortgage Capital LLC, Encore Credit Corp., ECC Capital Corporation and Bravo Credit Corporation.
  10.2    Letter of Amendment to Registration Rights Agreement dated as of May 5, 2006, by and between Friedman Billings, Ramsey Group, Inc. and ECC Capital Corporation.
  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
  May 5, 2006
  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
  Amendment No. 9 to Master Repurchase Agreement, dated as of May 1, 2006, by and between Credit Suisse First Boston Mortgage Capital LLC, Encore Credit Corp., ECC Capital Corporation and Bravo Credit Corporation.
  10.2
  Letter of Amendment to Registration Rights Agreement dated as of May 5, 2006, by and between Friedman Billings, Ramsey Group, Inc. and ECC Capital Corporation.