<PAGE>

                       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 18, 2006

                     MERRILL LYNCH MORTGAGE INVESTORS, INC.
--------------------------------------------------------------------------------
                 (Exact name of registrant specified in Charter)

<TABLE>
<CAPTION>

     DELAWARE                   333-127233                    13-3416059
--------------------------------------------------------------------------------
   <S>                         <C>                       <C>

  (State or other              (Commission                  (IRS Employer
  jurisdiction of              File Number)              Identification No.)
  incorporation)


               250 Vesey Street
      4 World Financial Center 28th Floor
              New York, New York                               10080
--------------------------------------------------------------------------------
   (Address of principal executive offices)                   Zip Code

</TABLE>


           REGISTRANT'S TELEPHONE, INCLUDING AREA CODE: (212) 449-0357

                                    No Change
--------------------------------------------------------------------------------
         (Former name and 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 (see General Instruction A.2. below):
[ ] 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 8.01.        Other Events.1

         Attached hereto as exhibits are certain materials (the "Computational
Materials") furnished to the Registrant by Merrill Lynch, Pierce, Fenner & Smith
Incorporated (the "Underwriter") in respect of OwnIt Mortgage Loan Trust, Series
2006-1 Mortgage Loan Asset-Backed Certificates (the "Certificates"). The
Certificates are being offered pursuant to a Prospectus Supplement and
accompanying Prospectus (together, the "Prospectus"). The Prospectus will be
filed with the Commission pursuant to Rule 424(b) under the Securities Act of
1933, as amended (the "Act"). The Certificates have been registered pursuant to
the Act under a Registration Statement on Form S-3 (333-127233) (the
"Registration Statement"). The Computational Materials are incorporated by
reference in the Registration Statement.

         The Computational Materials were prepared solely by the Underwriter,
and the Registrant did not prepare or participate (other than providing the
background information concerning the underlying pool of assets upon which the
Computational Materials are based to the Underwriter) in the preparation of the
Computational Materials.

         Any statements or information contained in the Computational Materials
shall be deemed to be modified or superseded for purposes of the Prospectus and
the Registration Statement by statements or information contained in the
Prospectus.

----------
1 Capitalized terms used but not otherwise defined herein shall have
  the same meanings ascribed to them in the Prospectus.


<PAGE>

ITEM 9.01.    Financial Statements; Pro Forma Information and Exhibits.

              (a) Not applicable.

              (b) Not applicable.

              (c) Exhibits:

                  99.1     Computational Materials
                  99.2     Computational Materials
                  99.3     Computational Materials
                  99.4     Computational Materials
                  99.5     Computational Materials
                  99.6     Computational Materials
                  99.7     Computational Materials
                  99.8     Computational Materials
                  99.9     Computational Materials
                  99.10    Computational Materials
                  99.11    Computational Materials
                  99.12    Computational Materials
                  99.13    Computational Materials
                  99.14    Computational Materials
                  99.15    Computational Materials
                  99.16    Computational Materials
                  99.17    Computational Materials
                  99.18    Computational Materials
                  99.19    Computational Materials
                  99.20    Computational Materials
                  99.21    Computational Materials
                  99.22    Computational Materials
                  99.23    Computational Materials

<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.

                     MERRILL LYNCH MORTGAGE INVESTORS, INC.


                                                     By:      /s/  Tom Saywell
                                                     Name: Tom Saywell
                                                     Title:   Vice President

Date: January 18, 2006

<PAGE>


                                  EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No.                       Description                           Page No.
--------------------------------------------------------------------------------
<S>                               <C>                                   <C>
99.1                              Computational Materials
99.2                              Computational Materials
99.3                              Computational Materials
99.4                              Computational Materials
99.5                              Computational Materials
99.6                              Computational Materials
99.7                              Computational Materials
99.8                              Computational Materials
99.9                              Computational Materials
99.10                             Computational Materials
99.11                             Computational Materials
99.12                             Computational Materials
99.13                             Computational Materials
99.14                             Computational Materials
99.15                             Computational Materials
99.16                             Computational Materials
99.17                             Computational Materials
99.18                             Computational Materials
99.19                             Computational Materials
99.20                             Computational Materials
99.21                             Computational Materials
99.22                             Computational Materials
99.23                             Computational Materials
</TABLE>
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{"company-data": {"conformed-name": "MERRILL LYNCH MORTGAGE INVESTORS INC", "cik": "0000809940", "assigned-sic": "6189", "irs-number": "135674085", "state-of-incorporation": "DE", "fiscal-year-end": "1228"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-29051", "film-number": "06536712"}, "business-address": {"street1": "4LD FINANCIAL CENTER FLOOR 10", "city": "NEW YORK", "state": "NY", "zip": "10281-1310", "phone": "2124491000"}, "mail-address": {"street1": "WORLD FINANCIAL CTR N TOWER", "street2": "250 VESEY ST 10TH FL", "city": "NEW YORK", "state": "NY", "zip": "10281-1310"}}
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 18, 2006

                     MERRILL LYNCH MORTGAGE INVESTORS, INC.
--------------------------------------------------------------------------------
                 (Exact name of registrant specified in Charter)
DELAWARE                   333-127233                    13-3416059
--------------------------------------------------------------------------------
(State or other              (Commission                  (IRS Employer
  jurisdiction of              File Number)              Identification No.)
  incorporation)

               250 Vesey Street
      4 World Financial Center 28th Floor
              New York, New York                               10080
--------------------------------------------------------------------------------
   (Address of principal executive offices)                   Zip Code
REGISTRANT'S TELEPHONE, INCLUDING AREA CODE: (212) 449-0357

                                    No Change
--------------------------------------------------------------------------------
         (Former name and 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 (see General Instruction A.2. below):
[ ] 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 8.01.        Other Events.1

         Attached hereto as exhibits are certain materials (the "Computational
Materials") furnished to the Registrant by Merrill Lynch, Pierce, Fenner & Smith
Incorporated (the "Underwriter") in respect of OwnIt Mortgage Loan Trust, Series
2006-1 Mortgage Loan Asset-Backed Certificates (the "Certificates"). The
Certificates are being offered pursuant to a Prospectus Supplement and
accompanying Prospectus (together, the "Prospectus"). The Prospectus will be
filed with the Commission pursuant to Rule 424(b) under the Securities Act of
1933, as amended (the "Act"). The Certificates have been registered pursuant to
the Act under a Registration Statement on Form S-3 (333-127233) (the
"Registration Statement"). The Computational Materials are incorporated by
reference in the Registration Statement.

         The Computational Materials were prepared solely by the Underwriter,
and the Registrant did not prepare or participate (other than providing the
background information concerning the underlying pool of assets upon which the
Computational Materials are based to the Underwriter) in the preparation of the
Computational Materials.

         Any statements or information contained in the Computational Materials
shall be deemed to be modified or superseded for purposes of the Prospectus and
the Registration Statement by statements or information contained in the
Prospectus.

----------
1 Capitalized terms used but not otherwise defined herein shall have
  the same meanings ascribed to them in the Prospectus.
ITEM 9.01.    Financial Statements; Pro Forma Information and Exhibits.

              (a) Not applicable.

              (b) Not applicable.

              (c) Exhibits:

                  99.1     Computational Materials
                  99.2     Computational Materials
                  99.3     Computational Materials
                  99.4     Computational Materials
                  99.5     Computational Materials
                  99.6     Computational Materials
                  99.7     Computational Materials
                  99.8     Computational Materials
                  99.9     Computational Materials
                  99.10    Computational Materials
                  99.11    Computational Materials
                  99.12    Computational Materials
                  99.13    Computational Materials
                  99.14    Computational Materials
                  99.15    Computational Materials
                  99.16    Computational Materials
                  99.17    Computational Materials
                  99.18    Computational Materials
                  99.19    Computational Materials
                  99.20    Computational Materials
                  99.21    Computational Materials
                  99.22    Computational Materials
                  99.23    Computational Materials
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.

                     MERRILL LYNCH MORTGAGE INVESTORS, INC.

                                                     By:      /s/  Tom Saywell
                                                     Name: Tom Saywell
                                                     Title:   Vice President

Date: January 18, 2006
EXHIBIT INDEX
Exhibit No.                       Description                           Page No.
--------------------------------------------------------------------------------
99.1                              Computational Materials
99.2                              Computational Materials
99.3                              Computational Materials
99.4                              Computational Materials
99.5                              Computational Materials
99.6                              Computational Materials
99.7                              Computational Materials
99.8                              Computational Materials
99.9                              Computational Materials
99.10                             Computational Materials
99.11                             Computational Materials
99.12                             Computational Materials
99.13                             Computational Materials
99.14                             Computational Materials
99.15                             Computational Materials
99.16                             Computational Materials
99.17                             Computational Materials
99.18                             Computational Materials
99.19                             Computational Materials
99.20                             Computational Materials
99.21                             Computational Materials
99.22                             Computational Materials
99.23                             Computational Materials