-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001104659-09-024409.txt : 20090416
<SEC-HEADER>0001104659-09-024409.hdr.sgml : 20090416
<ACCEPTANCE-DATETIME>20090415175410
ACCESSION NUMBER:		0001104659-09-024409
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Section 3(c)(1)
FILED AS OF DATE:		20090416
DATE AS OF CHANGE:		20090415
EFFECTIVENESS DATE:		20090416

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DBI/ASG Mortgage Acquisition Fund I, LP
		CENTRAL INDEX KEY:			0001457680
		IRS NUMBER:				800299393
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1209

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-130271
		FILM NUMBER:		09752240

	BUSINESS ADDRESS:	
		STREET 1:		4144 NORTH CENTRAL EXPRESSWAY, SUITE 900
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75204
		BUSINESS PHONE:		214-647-2133

	MAIL ADDRESS:	
		STREET 1:		4144 NORTH CENTRAL EXPRESSWAY, SUITE 900
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75204
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0301</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001457680</cik>
        <entityName>DBI/ASG Mortgage Acquisition Fund I, LP</entityName>
        <issuerAddress>
            <street1>4144 North Central Expressway, Suite 900</street1>
            <city>Dallas</city>
            <stateOrCountry>TX</stateOrCountry>
            <zipCode>75204</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>214-647-2133</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>DE</jurisdictionOfInc>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>.</firstName>
                <middleName></middleName>
                <lastName>DBI/ASG Advisors, LP</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4144 North Central Expressway, Suite 900</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75204</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>DBI/ASG Advisors, LP is the general partner (the &quot;General Partner&quot;) of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>.</firstName>
                <middleName></middleName>
                <lastName>American Servicing Group, Inc.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4144 North Central Expressway, Suite 900</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75204</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>American Servicing Group, Inc. (&quot;ASG&quot;) is the general partner of the General Partner.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Peter</firstName>
                <middleName></middleName>
                <lastName>Andrews</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>30 Wall Street</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Andrews is a principal of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>S.</middleName>
                <lastName>Buchanan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4144 North Central Expressway, Suite 900</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75204</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Buchanan is a principal of the issuer and a director and officer of ASG.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Elizabeth</firstName>
                <middleName></middleName>
                <lastName>Eiss</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>30 Wall Street</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Ms. Eiss is a principal of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ken</firstName>
                <middleName></middleName>
                <lastName>Murchison</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4144 North Central Expressway, Suite 900</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75204</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Murchison is a principal of the issuer and a director and officer of ASG.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Rick</firstName>
                <middleName></middleName>
                <lastName>O'Brien</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4144 North Central Expressway, Suite 900</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75204</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. O'Brien is a principal of the Issuer and a director and officer of ASG.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Greg</firstName>
                <middleName></middleName>
                <lastName>Palmer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>30 Wall Street</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Palmer is a principal of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>DeWitt</firstName>
                <middleName></middleName>
                <lastName>Ray</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4144 North Central Expressway, Suite 900</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75204</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Ray is a principal of the Issuer and a director and officer of ASG.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jonathan</firstName>
                <middleName></middleName>
                <lastName>Snyder</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>30 Wall Street</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Snyder is a principal of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>3C.1</item>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-04-09</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>500000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>50000000</totalOfferingAmount>
            <totalAmountSold>18050000</totalAmountSold>
            <totalRemaining>31950000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>10</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>DBI/ASG Mortgage Acquisition Fund I, LP</issuerName>
                <signatureName>/s/ William S. Buchanan</signatureName>
                <nameOfSigner>William S. Buchanan</nameOfSigner>
                <signatureTitle>VP of ASG, the general partner of the General Partner</signatureTitle>
                <signatureDate>2009-04-14</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----