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): September 14, 2006


                RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.,
                  on behalf of the RFMSI Series 2006-SA3 Trust
             (Exact name of registrant as specified in its charter)

           Delaware                  333-131201-06               75-2006294
 (State or other jurisdiction   (Commission File Number)       (IRS Employer
      of incorporation)                                     Identification No.)

  8400 Normandale Lake Boulevard, Suite 250
      Minneapolis, Minnesota                                       55437
     (Address of principal executive office)                    (Zip Code)

                                 (952) 857-7000
--------------------------------------------------------------------------------
              (Registrant's telephone number, including area code )


                                       N/A
--------------------------------------------------------------------------------
             (Former name or 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 communication  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>



                    INFORMATION TO BE INCLUDED IN THE REPORT

SECTION 8 - OTHER EVENTS.

ITEM 8.01.     OTHER EVENTS.

On August 30, 2006,  Residential  Funding Mortgage Securities I, Inc. caused the
issuance and sale of the Mortgage Pass-Through  Certificates,  Series, 2006-SA3,
pursuant to a Series  Supplement,  dated as of August 1, 2006,  to the  Standard
Terms of  Pooling  and  Servicing  Agreement,  dated as of June 1,  2006,  among
Residential Funding Mortgage Securities I, Inc., as company, Residential Funding
Corporation,  as master  servicer and the U.S.  Bank  National  Association,  as
trustee. The mortgage loans were sold to Residential Funding Mortgage Securities
I, Inc. pursuant to an Assignment and Assumption  Agreement,  dated as of August
30, 2006,  between  Residential  Funding  Corporation  and  Residential  Funding
Mortgage Securities I, Inc.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 (D). EXHIBITS.

        (d)    Exhibits:  The following execution copies of Exhibits to the Form
               S-3 Registration Statement of the Registrant are hereby filed.

                  10.1    Series Supplement,  dated as of August 1, 2006, to the
                          Standard  Terms of Pooling  and  Servicing  Agreement,
                          dated as of June 1, 2006,  among  Residential  Funding
                          Mortgage  Securities I, Inc., as company,  Residential
                          Funding Corporation,  as master servicer and U.S. Bank
                          National Association, as trustee.

                  10.2    Assignment  and  Assumption  Agreement,  dated  as  of
                          August  30,   2006,   between,   Residential   Funding
                          Corporation   and   Residential    Funding    Mortgage
                          Securities I, Inc.

                  10.3    Custodial Agreement, dated as of August 1, 2006, among
                          Residential Funding  Corporation,  as master servicer,
                          Residential  Funding  Mortgage  Securities I, Inc., as
                          depositor, and Wells Fargo Bank, N.A., as custodian.

                  99.1    Mortgage Loan Schedule



<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.


                                    RESIDENTIAL FUNDING MORTGAGE SECURITIES I,
                                        INC.


                                    By:  /s/Heather Anderson
                                    Name: Heather Anderson
                                    Title:   Vice President

Dated:  September 14, 2006




<PAGE>


                                  Exhibit Index


Exhibit No.                  Description

10.1 Series  Supplement,  dated as of August 1, 2006,  to the Standard  Terms of
     Pooling  and  Servicing  Agreement,   dated  as  of  June  1,  2006,  among
     Residential  Funding Mortgage  Securities I, Inc., as company,  Residential
     Funding Corporation, as master servicer and U.S. Bank National Association,
     as trustee.

10.2 Assignment and Assumption  Agreement,  dated as of August 30, 2006, between
     Residential Funding Corporation and Residential Funding Mortgage Securities
     I, Inc.

10.3 Custodial Agreement,  dated as of August 1, 2006, among Residential Funding
     Corporation, as master servicer, Residential Funding Mortgage Securities I,
     Inc., as depositor, and Wells Fargo Bank, N.A., as custodian.

99.1 Mortgage Loan Schedule
[{"type": "8-K", "sequence": "1", "filename": "sa38kss.txt", "secsgml_size_bytes": 5741}]
{"company-data": {"conformed-name": "RFMSI Series 2006-SA3 Trust", "cik": "0001371608", "assigned-sic": "6189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-131201-06", "film-number": "061090797"}, "business-address": {"street1": "8400 NORMANDALE LAKE BLVD", "street2": "SUITE 250", "city": "MINNEAPOLIS", "state": "MN", "zip": "55437", "phone": "9528327000"}}
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): September 14, 2006

                RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.,
                  on behalf of the RFMSI Series 2006-SA3 Trust
             (Exact name of registrant as specified in its charter)

           Delaware                  333-131201-06               75-2006294
 (State or other jurisdiction   (Commission File Number)       (IRS Employer
      of incorporation)                                     Identification No.)

  8400 Normandale Lake Boulevard, Suite 250
      Minneapolis, Minnesota                                       55437
     (Address of principal executive office)                    (Zip Code)

                                 (952) 857-7000
--------------------------------------------------------------------------------
              (Registrant's telephone number, including area code )

                                       N/A
--------------------------------------------------------------------------------
             (Former name or 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 communication  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))
INFORMATION TO BE INCLUDED IN THE REPORT

SECTION 8 - OTHER EVENTS.

ITEM 8.01.     OTHER EVENTS.

On August 30, 2006,  Residential  Funding Mortgage Securities I, Inc. caused the
issuance and sale of the Mortgage Pass-Through  Certificates,  Series, 2006-SA3,
pursuant to a Series  Supplement,  dated as of August 1, 2006,  to the  Standard
Terms of  Pooling  and  Servicing  Agreement,  dated as of June 1,  2006,  among
Residential Funding Mortgage Securities I, Inc., as company, Residential Funding
Corporation,  as master  servicer and the U.S.  Bank  National  Association,  as
trustee. The mortgage loans were sold to Residential Funding Mortgage Securities
I, Inc. pursuant to an Assignment and Assumption  Agreement,  dated as of August
30, 2006,  between  Residential  Funding  Corporation  and  Residential  Funding
Mortgage Securities I, Inc.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 (D). EXHIBITS.

        (d)    Exhibits:  The following execution copies of Exhibits to the Form
               S-3 Registration Statement of the Registrant are hereby filed.

                  10.1    Series Supplement,  dated as of August 1, 2006, to the
                          Standard  Terms of Pooling  and  Servicing  Agreement,
                          dated as of June 1, 2006,  among  Residential  Funding
                          Mortgage  Securities I, Inc., as company,  Residential
                          Funding Corporation,  as master servicer and U.S. Bank
                          National Association, as trustee.

                  10.2    Assignment  and  Assumption  Agreement,  dated  as  of
                          August  30,   2006,   between,   Residential   Funding
                          Corporation   and   Residential    Funding    Mortgage
                          Securities I, Inc.

                  10.3    Custodial Agreement, dated as of August 1, 2006, among
                          Residential Funding  Corporation,  as master servicer,
                          Residential  Funding  Mortgage  Securities I, Inc., as
                          depositor, and Wells Fargo Bank, N.A., as custodian.

                  99.1    Mortgage Loan Schedule
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.

                                    RESIDENTIAL FUNDING MORTGAGE SECURITIES I,
                                        INC.

                                    By:  /s/Heather Anderson
                                    Name: Heather Anderson
                                    Title:   Vice President

Dated:  September 14, 2006
Exhibit Index

Exhibit No.                  Description

10.1 Series  Supplement,  dated as of August 1, 2006,  to the Standard  Terms of
     Pooling  and  Servicing  Agreement,   dated  as  of  June  1,  2006,  among
     Residential  Funding Mortgage  Securities I, Inc., as company,  Residential
     Funding Corporation, as master servicer and U.S. Bank National Association,
     as trustee.

10.2 Assignment and Assumption  Agreement,  dated as of August 30, 2006, between
     Residential Funding Corporation and Residential Funding Mortgage Securities
     I, Inc.

10.3 Custodial Agreement,  dated as of August 1, 2006, among Residential Funding
     Corporation, as master servicer, Residential Funding Mortgage Securities I,
     Inc., as depositor, and Wells Fargo Bank, N.A., as custodian.

99.1 Mortgage Loan Schedule