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): August 24, 2006



                   RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.,
                                on behalf of the
                      GMACM Home Equity Loan Trust 2006-HE3
             (Exact name of registrant as specified in its charter)

            Delaware                   333-131211-07            41-1955181
(State or other jurisdiction of   (Commission File Number)     (IRS Employer
         incorporation)                                      Identification No.)

           8400 Normandale Lake Blvd., Suite 250 Minneapolis, MN   55437
               (Address of principal executive offices)           (Zip Code)


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

                                       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.

        The consolidated  financial  statements of Financial  Guaranty Insurance
Company ("FGIC") and subsidiaries as of December 31, 2005 and 2004, and for each
of the years in the  three-year  period ended December 31, 2005, are included in
this Form 8-K. The consolidated financial statements of FGIC and subsidiaries as
of December 31, 2005 and 2004 and for each of the years in the three-year period
ended  December  31, 2005 have been audited by Ernst & Young LLP. The consent of
Ernst & Young LLP to the  inclusion  of their  audit  report  on such  financial
statements  in this Form 8-K and to their being  referred to as "Experts" in the
Prospectus  Supplement  relating to the GMACM Home  Equity Loan Trust  2006-HE3,
Home Equity  Loan-Backed Term Notes,  Series 2006-HE3,  are attached hereto,  as
Exhibit 23.1. The consolidated  financial statements of FGIC and subsidiaries as
of December 31, 2005 and 2004 and for each of the years in the three-year period
ended December 31, 2005 are attached hereto as Exhibit 99.1.

        In addition, the unaudited consolidated financial statements of FGIC and
subsidiaries  as of June 30, 2006 and for the three and six month  periods ended
June 30, 2006 and 2005 are attached hereto as Exhibit 99.2.


SECTION 9 -- FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01(d).     Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits:

Exhibit
Number             Description

        23.1    Consent of Independent Registered Public Accounting Firm

        99.1    Consolidated financial statements of FGIC and subsidiaries as of
                December  31,  2005 and  2004,  and for each of the years in the
                three-year period ended December 31, 2005.

        99.2    Consolidated financial statements of FGIC and subsidiaries as of
                June 30, 2006 and for the three and six month periods ended June
                30, 2006 and 2005.



<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 ASSET MORTGAGE
                                           PRODUCTS, INC.



                                           By:    /s/Patricia C. Taylor
                                               Name:   Patricia C. Taylor
                                               Title:  Vice President



Dated:  August 24, 2006




<PAGE>


                                  Exhibit Index



Exhibit No.                         Description


 23.1           Consent of Independent Registered Public Accounting Firm
 99.1           Consolidated financial statements of FGIC and subsidiaries
                as of December  31, 2005 and 2004,  and for each of the
                years in the three-year period ended December 31, 2005.
 99.2           Consolidated financial statements of FGIC and subsidiaries
                as of June 30, 2006 and for the three and six month
                periods ended June 30, 2006 and 2005.




<PAGE>



                                  Exhibit 23.1



            CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


We  consent to the  reference  to our firm under the  caption  "Experts"  in the
Prospectus  Supplement  of  GMACM  Home  Equity  Loan  Trust  2006-HE3  for  the
registration of GMACM Home Equity  Loan-Backed Term Notes,  Series 2006-HE3,  in
the registration statement on Form S-3 (No. 333-131211) and to the incorporation
by reference  therein of our report dated January 23, 2006,  with respect to the
consolidated  financial  statements  of Financial  Guaranty  Insurance  Company,
appearing in the Form 8-K of  Residential  Asset Mortgage  Products,  Inc. dated
August 24, 2006, filed with the Securities and Exchange Commission.



                                            /s/ Ernst & Young LLP



New York, New York
August 24, 2006


<PAGE>
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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): August 24, 2006

                   RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.,
                                on behalf of the
                      GMACM Home Equity Loan Trust 2006-HE3
             (Exact name of registrant as specified in its charter)

            Delaware                   333-131211-07            41-1955181
(State or other jurisdiction of   (Commission File Number)     (IRS Employer
         incorporation)                                      Identification No.)

           8400 Normandale Lake Blvd., Suite 250 Minneapolis, MN   55437
               (Address of principal executive offices)           (Zip Code)

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

                                       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.

        The consolidated  financial  statements of Financial  Guaranty Insurance
Company ("FGIC") and subsidiaries as of December 31, 2005 and 2004, and for each
of the years in the  three-year  period ended December 31, 2005, are included in
this Form 8-K. The consolidated financial statements of FGIC and subsidiaries as
of December 31, 2005 and 2004 and for each of the years in the three-year period
ended  December  31, 2005 have been audited by Ernst & Young LLP. The consent of
Ernst & Young LLP to the  inclusion  of their  audit  report  on such  financial
statements  in this Form 8-K and to their being  referred to as "Experts" in the
Prospectus  Supplement  relating to the GMACM Home  Equity Loan Trust  2006-HE3,
Home Equity  Loan-Backed Term Notes,  Series 2006-HE3,  are attached hereto,  as
Exhibit 23.1. The consolidated  financial statements of FGIC and subsidiaries as
of December 31, 2005 and 2004 and for each of the years in the three-year period
ended December 31, 2005 are attached hereto as Exhibit 99.1.

        In addition, the unaudited consolidated financial statements of FGIC and
subsidiaries  as of June 30, 2006 and for the three and six month  periods ended
June 30, 2006 and 2005 are attached hereto as Exhibit 99.2.

SECTION 9 -- FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01(d).     Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits:

Exhibit
Number             Description

        23.1    Consent of Independent Registered Public Accounting Firm

        99.1    Consolidated financial statements of FGIC and subsidiaries as of
                December  31,  2005 and  2004,  and for each of the years in the
                three-year period ended December 31, 2005.

        99.2    Consolidated financial statements of FGIC and subsidiaries as of
                June 30, 2006 and for the three and six month periods ended June
                30, 2006 and 2005.
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 ASSET MORTGAGE
                                           PRODUCTS, INC.

                                           By:    /s/Patricia C. Taylor
                                               Name:   Patricia C. Taylor
                                               Title:  Vice President

Dated:  August 24, 2006
Exhibit Index

Exhibit No.                         Description

 23.1           Consent of Independent Registered Public Accounting Firm
 99.1           Consolidated financial statements of FGIC and subsidiaries
                as of December  31, 2005 and 2004,  and for each of the
                years in the three-year period ended December 31, 2005.
 99.2           Consolidated financial statements of FGIC and subsidiaries
                as of June 30, 2006 and for the three and six month
                periods ended June 30, 2006 and 2005.
Exhibit 23.1

            CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We  consent to the  reference  to our firm under the  caption  "Experts"  in the
Prospectus  Supplement  of  GMACM  Home  Equity  Loan  Trust  2006-HE3  for  the
registration of GMACM Home Equity  Loan-Backed Term Notes,  Series 2006-HE3,  in
the registration statement on Form S-3 (No. 333-131211) and to the incorporation
by reference  therein of our report dated January 23, 2006,  with respect to the
consolidated  financial  statements  of Financial  Guaranty  Insurance  Company,
appearing in the Form 8-K of  Residential  Asset Mortgage  Products,  Inc. dated
August 24, 2006, filed with the Securities and Exchange Commission.

                                            /s/ Ernst & Young LLP

New York, New York
August 24, 2006