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 25, 2005 (Date of earliest event reported) Financial Asset Securities Corp. (as Depositor under the Pooling and Servicing Agreement, dated as March 1, 2005, providing for the issuance of Fremont Home Loan Trust Series 2005-1 Asset-Backed Certificates, Series 2005-1) (Exact name of registrant as specified in charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-121661-07 06-1442101 (Commission File Number) (I.R.S. Employer Identification No.) 600 Steamboat Road Greenwich, Connecticut 06830 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (203) 625-2700 (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 (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(b) under the Exchange Act (17 CFR 240.14a-12(b)) [ ] 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 Attached hereto is a copy of the Monthly Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 9.01 Financial Statements and Exhibits (c) Exhibits: Exhibit No. Description 99.1 Monthly Remittance Statement to the Certificateholders dated as of May 25, 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. Deutsche Bank National Trust Company, in its capacity as Trustee under the Pooling and Servicing Agreement on behalf of Financial Asset Securities Corp., Registrant Date: Jun 02, 2005 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT 99.1 Monthly Remittance Statement to the Certificateholders dated as of May 25, 2005.

Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
				External Parties						Table of Contents
													Page
				Seller
										1. Certificate Payment Report					2
				Greenwich Capital Financial Products, In
										2. Collection Account Report					6
										3. Credit Enhancement Report					8
										4. Collateral Report					9
				Certificate Insurer(s)						5. Delinquency Report					12
										6. REO Report					15
										7. Foreclosure Report					16
										8. Prepayment Report					17
										9. Prepayment Detail Report					20
										10. Realized Loss Report					23
										11. Realized Loss Detail Report					26
				Servicer(s)
										12. Triggers and Adj. Cert. Report					27
				Litton Loan Servicing
										13. Additional Certificate Report					28
				Underwriter(s)
				Greenwich Capital Markets
										Total Number of Pages					28
				Dates						Contacts
				Cut-Off Date:			March 01, 2005			Eiko Akiyama
				Close Date:			March 29, 2005			Administrator
				First Distribution Date:			April 25, 2005			(714) 247-6328
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92514
				Distribution Date:			May 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			April 29, 2005
										Main Phone Number:			(714) 247-6000
							May 24, 2005
										https://www.tss.db.com/invr
Page 1 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution - REMIC III
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance
					(1)		(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)
I-A1	SR	$	753,440,000.00		746,851,145.01		2,022,721.85		9,449,915.59		11,472,637.44		0.00		0.00		737,401,229.42
I-A2	SR	$	188,360,000.00		186,712,786.25		515,016.10		2,362,478.90		2,877,495.00		0.00		0.00		184,350,307.35
II-A1	SR	$	195,000,000.00		191,045,439.38		496,718.14		8,337,573.17		8,834,291.31		0.00		0.00		182,707,866.21
II-A2	SR	$	304,200,000.00		304,200,000.00		811,200.00		0.00		811,200.00		0.00		0.00		304,200,000.00
II-A3	SR	$	31,734,000.00		31,734,000.00		88,590.75		0.00		88,590.75		0.00		0.00		31,734,000.00
M-1	MEZ,FLT	$	108,162,000.00		108,162,000.00		312,768.45		0.00		312,768.45		0.00		0.00		108,162,000.00
M-2	MEZ,FLT	$	80,155,000.00		80,155,000.00		233,785.42		0.00		233,785.42		0.00		0.00		80,155,000.00
M-3	MEZ,FLT	$	37,663,000.00		37,663,000.00		110,791.99		0.00		110,791.99		0.00		0.00		37,663,000.00
M-4	MEZ,FLT	$	34,766,000.00		34,766,000.00		107,195.17		0.00		107,195.17		0.00		0.00		34,766,000.00
M-5	MEZ,FLT	$	40,561,000.00		40,561,000.00		126,077.11		0.00		126,077.11		0.00		0.00		40,561,000.00
M-6	MEZ,FLT	$	31,869,000.00		31,869,000.00		100,652.93		0.00		100,652.93		0.00		0.00		31,869,000.00
M-7	MEZ,FLT	$	26,075,000.00		26,075,000.00		91,697.08		0.00		91,697.08		0.00		0.00		26,075,000.00
M-8	MEZ,FLT	$	24,143,000.00		24,143,000.00		87,920.76		0.00		87,920.76		0.00		0.00		24,143,000.00
M-9	MEZ,FLT	$	19,315,000.00		19,315,000.00		80,801.08		0.00		80,801.08		0.00		0.00		19,315,000.00
B-1	SUB, FLT, S	$	12,554,000.00		12,554,000.00		65,594.65		0.00		65,594.65		0.00		0.00		12,554,000.00
B-2	SUB, FLT, S	$	19,315,000.00		19,315,000.00		100,920.87		0.00		100,920.87		0.00		0.00		19,315,000.00
B-3	SUB, FLT, S	$	14,486,000.00		14,486,000.00		75,689.35		0.00		75,689.35		0.00		0.00		14,486,000.00
C	EXE	$	9,657,569.42		9,657,278.35		1,926,749.82		0.00		1,926,749.82		0.00		0.00		9,657,278.35
P	R	$	100.00		100.00		333,645.59		0.00		333,645.59		0.00		0.00		100.00
R	R	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
R-X	R	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Total			1,931,455,669.42		1,919,264,748.99		7,688,537.11		20,149,967.66		27,838,504.77		0.00		0.00		1,899,114,781.33
Page 2 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
									Orig. Principal		Prior							Current
	Period		Period						(with Notional)		Principal						Total	Principal
Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance
									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
I-A1	04/25/05		05/24/05		A-Act/360		35729PHW3		753,440,000.00		991.254971		2.684649		12.542360		15.227009	978.712611
I-A2	04/25/05		05/24/05		A-Act/360		35729PHX1		188,360,000.00		991.254971		2.734212		12.542360		15.276571	978.712611
II-A1	04/25/05		05/24/05		A-Act/360		35729PHY9		195,000,000.00		979.720202		2.547273		42.756785		45.304058	936.963416
II-A2	04/25/05		05/24/05		A-Act/360		35729PHZ6		304,200,000.00		1,000.000000		2.666667		0.000000		2.666667	1,000.000000
II-A3	04/25/05		05/24/05		A-Act/360		35729PJA9		31,734,000.00		1,000.000000		2.791667		0.000000		2.791667	1,000.000000
M-1	04/25/05		05/24/05		A-Act/360		35729PJB7		108,162,000.00		1,000.000000		2.891667		0.000000		2.891667	1,000.000000
M-2	04/25/05		05/24/05		A-Act/360		35729PJC5		80,155,000.00		1,000.000000		2.916667		0.000000		2.916667	1,000.000000
M-3	04/25/05		05/24/05		A-Act/360		35729PJD3		37,663,000.00		1,000.000000		2.941667		0.000000		2.941667	1,000.000000
M-4	04/25/05		05/24/05		A-Act/360		35729PJE1		34,766,000.00		1,000.000000		3.083333		0.000000		3.083333	1,000.000000
M-5	04/25/05		05/24/05		A-Act/360		35729PJF8		40,561,000.00		1,000.000000		3.108333		0.000000		3.108333	1,000.000000
M-6	04/25/05		05/24/05		A-Act/360		35729PJG6		31,869,000.00		1,000.000000		3.158333		0.000000		3.158333	1,000.000000
M-7	04/25/05		05/24/05		A-Act/360		35729PJH4		26,075,000.00		1,000.000000		3.516667		0.000000		3.516667	1,000.000000
M-8	04/25/05		05/24/05		A-Act/360		35729PJJ0		24,143,000.00		1,000.000000		3.641667		0.000000		3.641667	1,000.000000
M-9	04/25/05		05/24/05		A-Act/360		35729PJK7		19,315,000.00		1,000.000000		4.183333		0.000000		4.183333	1,000.000000
B-1	04/25/05		05/24/05		A-Act/360		35729PJL5		12,554,000.00		1,000.000000		5.225000		0.000000		5.225000	1,000.000000
B-2	04/25/05		05/24/05		A-Act/360		35729PJM3		19,315,000.00		1,000.000000		5.225000		0.000000		5.225000	1,000.000000
B-3	04/25/05		05/24/05		A-Act/360		35729PJN1		14,486,000.00		1,000.000000		5.225000		0.000000		5.225000	1,000.000000
C	04/25/05		05/24/05		GC05F1101		9,657,569.42		999.969861		199.506702		0.000000		199.506702		999.969861
P	04/25/05		05/24/05		GC05F1102		100.00		1,000.000000		3,336,455.900000		0.000000		3,336,455.900000		1,000.000000
R	04/25/05		05/24/05		GC05F1103		0.00		0.000000		0.000000		0.000000		0.000000		0.000000
R-X	04/25/05		05/24/05		GC05F1104		0.00		0.000000		0.000000		0.000000		0.000000		0.000000
Page 3 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Distribution to Date - REMIC III
																	Current
	Original				Unscheduled		Scheduled		Total		Total		Realized		Deferred		Principal
Class	Face Value		Interest		Principal		Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)		(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
I-A1	753,440,000.00		3,763,168.25		15,157,122.30		881,648.28		16,038,770.58		19,801,938.83		0.00		0.00		737,401,229.42
I-A2	188,360,000.00		958,603.90		3,789,280.58		220,412.07		4,009,692.65		4,968,296.55		0.00		0.00		184,350,307.35
II-A1	195,000,000.00		928,155.64		11,647,898.58		644,235.21		12,292,133.79		13,220,289.43		0.00		0.00		182,707,866.21
II-A2	304,200,000.00		1,502,494.50		0.00		0.00		0.00		1,502,494.50		0.00		0.00		304,200,000.00
II-A3	31,734,000.00		164,276.34		0.00		0.00		0.00		164,276.34		0.00		0.00		31,734,000.00
M-1	108,162,000.00		580,469.40		0.00		0.00		0.00		580,469.40		0.00		0.00		108,162,000.00
M-2	80,155,000.00		433,972.53		0.00		0.00		0.00		433,972.53		0.00		0.00		80,155,000.00
M-3	37,663,000.00		205,702.75		0.00		0.00		0.00		205,702.75		0.00		0.00		37,663,000.00
M-4	34,766,000.00		199,238.16		0.00		0.00		0.00		199,238.16		0.00		0.00		34,766,000.00
M-5	40,561,000.00		234,374.98		0.00		0.00		0.00		234,374.98		0.00		0.00		40,561,000.00
M-6	31,869,000.00		187,177.27		0.00		0.00		0.00		187,177.27		0.00		0.00		31,869,000.00
M-7	26,075,000.00		170,899.89		0.00		0.00		0.00		170,899.89		0.00		0.00		26,075,000.00
M-8	24,143,000.00		163,971.21		0.00		0.00		0.00		163,971.21		0.00		0.00		24,143,000.00
M-9	19,315,000.00		151,059.39		0.00		0.00		0.00		151,059.39		0.00		0.00		19,315,000.00
B-1	12,554,000.00		123,029.20		0.00		0.00		0.00		123,029.20		0.00		0.00		12,554,000.00
B-2	19,315,000.00		189,287.00		0.00		0.00		0.00		189,287.00		0.00		0.00		19,315,000.00
B-3	14,486,000.00		141,962.80		0.00		0.00		0.00		141,962.80		0.00		0.00		14,486,000.00
C	9,657,569.42		4,683,781.81		270.15		20.93		291.07		4,684,072.88		0.00		0.00		9,657,278.35
P	100.00		556,880.10		0.00		0.00		0.00		556,880.10		0.00		0.00		100.00
R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
R-X	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Total	1,931,455,669.42		15,338,505.12		30,594,571.61		1,746,316.49		32,340,888.09		47,679,393.21		0.00		0.00		1,899,114,781.33
Page 4 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Interest Detail - REMIC III
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or		Current
	Through		(with Notional)		Accrued		Supported		Unpaid		Interest		Optimal		Deferred		Unpaid
Class	Rate		Balance		Interest		Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
I-A1	3.25000%		746,851,145.01		2,022,721.85		0.00		0.00		0.00		2,022,721.85		2,022,721.85		0.00
I-A2	3.31000%		186,712,786.25		515,016.10		0.00		0.00		0.00		515,016.10		515,016.10		0.00
II-A1	3.12000%		191,045,439.38		496,718.14		0.00		0.00		0.00		496,718.14		496,718.14		0.00
II-A2	3.20000%		304,200,000.00		811,200.00		0.00		0.00		0.00		811,200.00		811,200.00		0.00
II-A3	3.35000%		31,734,000.00		88,590.75		0.00		0.00		0.00		88,590.75		88,590.75		0.00
M-1	3.47000%		108,162,000.00		312,768.45		0.00		0.00		0.00		312,768.45		312,768.45		0.00
M-2	3.50000%		80,155,000.00		233,785.42		0.00		0.00		0.00		233,785.42		233,785.42		0.00
M-3	3.53000%		37,663,000.00		110,791.99		0.00		0.00		0.00		110,791.99		110,791.99		0.00
M-4	3.70000%		34,766,000.00		107,195.17		0.00		0.00		0.00		107,195.17		107,195.17		0.00
M-5	3.73000%		40,561,000.00		126,077.11		0.00		0.00		0.00		126,077.11		126,077.11		0.00
M-6	3.79000%		31,869,000.00		100,652.93		0.00		0.00		0.00		100,652.93		100,652.93		0.00
M-7	4.22000%		26,075,000.00		91,697.08		0.00		0.00		0.00		91,697.08		91,697.08		0.00
M-8	4.37000%		24,143,000.00		87,920.76		0.00		0.00		0.00		87,920.76		87,920.76		0.00
M-9	4.64736%		19,315,000.00		74,803.13		0.00		0.00		0.00		74,803.13		80,801.08		0.00
B-1	4.64736%		12,554,000.00		48,619.13		0.00		0.00		0.00		48,619.13		65,594.65		0.00
B-2	4.64736%		19,315,000.00		74,803.13		0.00		0.00		0.00		74,803.13		100,920.87		0.00
B-3	4.64736%		14,486,000.00		56,101.38		0.00		0.00		0.00		56,101.38		75,689.35		0.00
C	239.41526%		9,657,278.35		0.00		0.00		0.00		0.00		0.00		1,926,749.82		0.00
P	4,003,747.08000%		100.00		0.00		0.00		0.00		0.00		0.00		333,645.59		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
R-X	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Total			1,919,264,748.99		5,359,462.52		0.00		0.00		0.00		5,359,462.52		#######		0.00
Page 5 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Collection Account Report
SUMMARY
										Group 2		Group 1		Total
Principal Collections										8,337,573.17		11,812,394.49		20,149,967.66
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										8,337,573.17		11,812,394.49		20,149,967.66
Interest Collections										2,624,334.80		4,809,297.73		7,433,632.54
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		333,645.59		333,645.59
Interest Fees										-29,213.63		-49,527.39		-78,741.01
TOTAL NET INTEREST										2,595,121.17		5,093,415.93		7,688,537.12
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										10,932,694.34		16,905,810.42		27,838,504.78
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											240,941.38		628,896.64		869,838.02
Curtailments											9,752.32		42,844.02		52,596.34
Prepayments In Full											8,086,879.47		11,140,653.83		19,227,533.30
Repurchased/Substitutions											0.00		0.00		0.00
Liquidations											0.00		0.00		0.00
Other Additional Principal											0.00		0.00		0.00
Delinquent Principal											-210,244.31		-551,625.36		-761,869.67
Realized Losses											-0.00		-0.00		-0.00
Advanced Principal											210,244.31		551,625.36		761,869.67
TOTAL PRINCIPAL COLLECTED											8,337,573.17		11,812,394.49		20,149,967.66
PRINCIPAL - WITHDRAWALS
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS
										Group 2		Group 1		Total
TOTAL PRINCIPAL OTHER ACCOUNTS										0.00		0.00		0.00
Page 6 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										2,794,846.98		5,112,678.65		7,907,525.63
Repurchased/Substitution Interest										0.00		0.00		0.00
Liquidation Interest										0.00		0.00		0.00
Other Additional Interest										0.00		0.00		0.00
Prepayment Interest Shortfalls										-18,778.13		-24,243.93		-43,022.06
Delinquent Interest										-2,405,485.82		-4,430,622.28		-6,836,108.10
Compensating Interest										18,778.13		24,243.93		43,022.06
Civil Relief Act Shortfalls										-0.00		-0.00		-0.00
Interest Advanced										2,234,973.64		4,127,241.35		6,362,214.99
TOTAL INTEREST COLLECTED										2,624,334.80		4,809,297.73		7,433,632.54
INTEREST - WITHDRAWALS
										Group 2		Group 1		Total
TOTAL INTEREST WITHDRAWALS										0.00		0.00		0.00
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges														333,645.59
TOTAL INTEREST OTHER ACCOUNTS										0.00		333,645.59		333,645.59
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										28,463.52		48,198.29		76,661.82
Trustee Fees										750.11		1,329.09		2,079.20
TOTAL INTEREST FEES										29,213.63		49,527.39		78,741.01
Page 7 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS
Net WAC Rate Carryover Reserve Account
Begining Balance						0.00
Amount Deposited in the Account						68,679.19
Amount Withdrawn						68,679.19
Ending Balance						0.00
INSURANCE
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Ending Overcollateralization Amount														9,657,278.35
Overcollateralization Target Amount														9,657,278.35
Overcollateralization Deficiency Amount														0.00
Overcollateralization Release Amount														0.00
Page 8 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Collateral Report
COLLATERAL
											Group 2		Group 1		Total
Loan Count:
Original										1,897		5,185		7,082
Prior										1,889		5,140		7,029
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-25		-58		-83
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										1,864		5,082		6,946
Principal Balance:
Original										481,496,335.03		852,026,380.16		1,333,522,715.19
Prior										477,541,679.99		843,790,114.77		1,321,331,794.76
Prefunding										214,866,392.86		383,066,561.37		597,932,954.23
Scheduled Principal										-240,941.38		-628,896.64		-869,838.02
Partial Prepayments										-9,752.32		-42,844.02		-52,596.34
Full Voluntary Prepayments										-8,086,879.47		-11,140,653.83		-19,227,533.30
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										469,204,106.82		831,977,720.28		1,301,181,827.10
PREFUNDING
										Group 2		Group 1		Total
Prefunding Account Original Balance										214,866,392.86		383,066,561.37		597,932,954.23
Prefunding Account Beginning Balance										214,866,392.86		383,066,561.37		597,932,954.23
Subsequent Loans Added to the Pool										0.00		0.00		0.00
Prefund Release to Certificate Holders										0.00		0.00		0.00
Prefunding Account Ending Balance										214,866,392.86		383,066,561.37		597,932,954.23
Page 9 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										7.02538%		7.27519%		7.18499%
Weighted Average Coupon Prior										7.02538%		7.27519%		7.18499%
Weighted Average Coupon Current										7.02309%		7.27098%		7.18139%
Weighted Average Months to Maturity Original										356		354		355
Weighted Average Months to Maturity Prior										356		354		355
Weighted Average Months to Maturity Current										355		353		354
Weighted Avg Remaining Amortization Term Original										356		354		355
Weighted Avg Remaining Amortization Term Prior										356		354		355
Weighted Avg Remaining Amortization Term Current										355		353		354
Weighted Average Seasoning Original										3.22		3.36		3.31
Weighted Average Seasoning Prior										3.22		3.36		3.31
Weighted Average Seasoning Current										4.21		4.36		4.31
Page 10 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										6.90823%		6.93120%		6.92266%
Weighted Average Margin Prior										6.90823%		6.93120%		6.92266%
Weighted Average Margin Current										6.90783%		6.93086%		6.92229%
Weighted Average Max Rate Original										13.85859%		14.16739%		14.05258%
Weighted Average Max Rate Prior										13.85859%		14.16739%		14.05258%
Weighted Average Max Rate Current										13.85454%		14.16298%		14.04822%
Weighted Average Min Rate Original										6.86193%		7.16931%		7.05503%
Weighted Average Min Rate Prior										6.86193%		7.16931%		7.05503%
Weighted Average Min Rate Current										6.85791%		7.16492%		7.05070%
Weighted Average Cap Up Original										1.50000%		1.50000%		1.50000%
Weighted Average Cap Up Prior										1.50000%		1.50000%		1.50000%
Weighted Average Cap Up Current										1.50000%		1.50000%		1.50000%
Weighted Average Cap Down Original										1.50000%		1.50000%		1.50000%
Weighted Average Cap Down Prior										1.50000%		1.50000%		1.50000%
Weighted Average Cap Down Current										1.50000%		1.50000%		1.50000%
SERVICING FEES & ADVANCES
											Group 2		Group 1		Total
Current Servicing Fees										28,463.52		48,198.29		76,661.82
Delinquent Servicing Fees										170,512.18		303,380.92		473,893.10
TOTAL SERVICING FEES										198,975.71		351,579.22		550,554.93
Total Servicing Fees										198,975.71		351,579.22		550,554.93
Compensating Interest										-18,778.13		-24,243.93		-43,022.06
Delinquent Servicing Fees										-170,512.18		-303,380.92		-473,893.10
COLLECTED SERVICING FEES										9,685.40		23,954.37		33,639.77
Total Advaced Interest										2,234,973.64		4,127,241.35		6,362,214.99
Total Advaced Principal										210,244.31		551,625.36		761,869.67
Aggregate Advances with respect to this Distribution										2,445,217.95		4,678,866.72		7,124,084.67
ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)										18,778.13		24,243.93		43,022.06
Compensating Interest										-18,778.13		-24,243.93		-43,022.06
Net Prepayment Interest Shortfall (PPIS)										0.00		0.00		0.00
Weighted Average Net Mortgage Rate												6.521201%		6.982534%
Libor For Current Period														3.0200%
Libor For Next Period														3.0900%
Page 11 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Delinquency Report
	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				14,506,216.42		1,323,996.49		554,977.45		16,385,190.36
			% Balance				1.11%		0.10%		0.04%		1.26%
			# Loans				72		9		3		84
			% # Loans				1.04%		0.13%		0.04%		1.21%
	FORECLOSURE		Balance		0.00		0.00		3,918,958.82		0.00		3,918,958.82
			% Balance		0.00%		0.00%		0.30%		0.00%		0.30%
			# Loans		0		0		26		0		26
			% # Loans		0.00%		0.00%		0.37%		0.00%		0.37%
	BANKRUPTCY		Balance		809,167.38		162,519.40		186,867.36		0.00		1,158,554.14
			% Balance		0.06%		0.01%		0.01%		0.00%		0.09%
			# Loans		6		2		1		0		9
			% # Loans		0.09%		0.03%		0.01%		0.00%		0.13%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		809,167.38		14,668,735.82		5,429,822.67		554,977.45		21,462,703.32
			% Balance		0.06%		1.13%		0.42%		0.04%		1.65%
			# Loans		6		74		36		3		119
			% # Loans		0.09%		1.07%		0.52%		0.04%		1.71%
Page 12 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				8,574,604.55		997,927.26		554,977.45		10,127,509.26
			% Balance				1.03%		0.12%		0.07%		1.22%
			# Loans				51		7		3		61
			% # Loans				1.00%		0.14%		0.06%		1.20%
	FORECLOSURE		Balance		0.00		0.00		2,184,003.39		0.00		2,184,003.39
			% Balance		0.00%		0.00%		0.26%		0.00%		0.26%
			# Loans		0		0		14		0		14
			% # Loans		0.00%		0.00%		0.28%		0.00%		0.28%
	BANKRUPTCY		Balance		707,319.66		162,519.40		186,867.36		0.00		1,056,706.42
			% Balance		0.09%		0.02%		0.02%		0.00%		0.13%
			# Loans		5		2		1		0		8
			% # Loans		0.10%		0.04%		0.02%		0.00%		0.16%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		707,319.66		8,737,123.95		3,368,798.01		554,977.45		13,368,219.07
			% Balance		0.09%		1.05%		0.40%		0.07%		1.61%
			# Loans		5		53		22		3		83
			% # Loans		0.10%		1.04%		0.43%		0.06%		1.63%
Page 13 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				5,931,611.87		326,069.23		0.00		6,257,681.10
			% Balance				1.26%		0.07%		0.00%		1.33%
			# Loans				21		2		0		23
			% # Loans				1.13%		0.11%		0.00%		1.23%
	FORECLOSURE		Balance		0.00		0.00		1,734,955.43		0.00		1,734,955.43
			% Balance		0.00%		0.00%		0.37%		0.00%		0.37%
			# Loans		0		0		12		0		12
			% # Loans		0.00%		0.00%		0.64%		0.00%		0.64%
	BANKRUPTCY		Balance		101,847.72		0.00		0.00		0.00		101,847.72
			% Balance		0.02%		0.00%		0.00%		0.00%		0.02%
			# Loans		1		0		0		0		1
			% # Loans		0.05%		0.00%		0.00%		0.00%		0.05%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		101,847.72		5,931,611.87		2,061,024.66		0.00		8,094,484.25
			% Balance		0.02%		1.26%		0.44%		0.00%		1.73%
			# Loans		1		21		14		0		36
			% # Loans		0.05%		1.13%		0.75%		0.00%		1.93%
Page 14 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
REO Report
Loan Number			Original		Stated				Current		State &
														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment
Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
TOTAL
Page 15 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &
														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment
Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
1000206953 1
			131,000.00		130,550.11		01-Jan-2005		7.950%		CA - 74.01%		360		01-Jan-2005
1000213233 1			171,000.00		170,568.17		01-Jan-2005		8.350%		MD - 95.00%		360		01-Feb-2005
1000214464 1			399,200.00		397,853.48		01-Jan-2005		6.900%		MA - 80.00%		360		01-Feb-2005
1000214874 1			176,000.00		175,345.86		01-Jan-2005		6.400%		IL - 80.00%		360		01-Feb-2005
1000218015 1			75,625.00		75,492.34		01-Jan-2005		10.100%		CA - 55.00%		360		01-Feb-2005
5000119373 1			212,500.00		211,538.81		01-Jan-2005		7.500%		IL - 85.00%		360		01-Dec-2004
5000124469 1			#######		71,284.98		01-Jan-2005		10.500%		IL - 70.00%		360		01-Feb-2005
5000125239 1			144,000.00		143,625.11		01-Jan-2005		8.200%		IL - 90.00%		360		01-Feb-2005
5000130487 1			216,750.00		216,174.13		01-Jan-2005		8.100%		GA - 85.00%		360		01-Feb-2005
5000130548 1			12,750.00		12,528.15		01-Jan-2005		12.250%		GA - 90.00%		120		01-Feb-2005
6000129132 1			84,800.00		84,472.48		01-Jan-2005		6.200%		FL - 80.00%		360		01-Feb-2005
6000129621 1			28,000.00		27,959.48		01-Jan-2005		11.000%		NC - 100.00%		360		01-Feb-2005
7000119804 1			240,100.00		239,115.13		01-Jan-2005		7.990%		CA - 70.00%		360		01-Dec-2004
8000029469 1			228,000.00		227,495.16		01-Jan-2005		8.990%		MA - 80.00%		360		01-Feb-2005
1000207965 2			63,750.00		63,623.06		01-Jan-2005		9.500%		FL - 75.00%		360		01-Feb-2005
1000211357 2			56,000.00		55,888.50		01-Jan-2005		9.500%		OH - 80.00%		360		01-Feb-2005
1000211379 2			59,360.00		59,214.62		01-Jan-2005		8.500%		OH - 80.00%		360		01-Feb-2005
1000215073 2			388,000.00		386,926.74		01-Jan-2005		7.900%		NY - 100.00%		360		01-Feb-2005
1000215076 2			99,800.00		99,620.81		01-Jan-2005		9.990%		MA - 100.00%		360		01-Feb-2005
5000128419 2			72,000.00		71,881.51		01-Jan-2005		10.400%		MI - 80.00%		360		01-Feb-2005
5000129736 2			412,000.00		412,000.00		01-Jan-2005		7.950%		GA - 80.00%		360		01-Feb-2005
5000130093 2			103,000.00		102,863.47		01-Jan-2005		11.400%		GA - 100.00%		360		01-Feb-2005
6000129073 2			121,500.00		121,167.26		01-Jan-2005		7.950%		FL - 90.00%		360		01-Feb-2005
6000129561 2			112,000.00		112,000.00		01-Jan-2005		6.650%		NC - 80.00%		360		01-Feb-2005
6000131514 2			60,300.00		60,169.46		01-Jan-2005		9.100%		TN - 90.00%		360		01-Feb-2005
7000124219 2			189,600.00		189,600.00		01-Jan-2005		6.900%		CA - 80.00%		360		01-Jan-2005
TOTAL			3,928,435.00		3,918,958.82
Page 16 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Prepayment Report
VOLUNTARY PREPAYMENTS
											Group 2		Group 1		Total
Current
Number of Paid in Full Loans										25		58		83
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										25		58		83
Curtailments Amount										9,752.32		42,844.02		52,596.34
Paid in Full Balance										8,086,879.47		11,140,653.83		19,227,533.30
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										8,096,631.79		11,183,497.85		19,280,129.64
Cumulative
Number of Paid in Full Loans										33		103		136
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										33		103		136
Paid in Full Balance										11,771,973.75		18,754,105.76		30,526,079.51
Repurchased Loans Balance										0.00		0.00		0.00
Curtailments Amount										35,950.66		32,541.44		68,492.10
Total Prepayment Amount										11,807,924.41		18,786,647.20		30,594,571.61
Page 17 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
VOLUNTARY PREPAYMENTS RATES
											Group 2		Group 1		Total
SMM										1.70%		1.33%		1.46%
3 Months Avg SMM										1.23%		1.11%		1.16%
12 Months Avg SMM										1.23%		1.11%		1.16%
Avg SMM Since Cut-off										1.23%		1.11%		1.16%
CPR										18.56%		14.81%		16.18%
3 Months Avg CPR										13.85%		12.54%		13.01%
12 Months Avg CPR										13.85%		12.54%		13.01%
Avg CPR Since Cut-off										13.85%		12.54%		13.01%
PSA										2,202.43%		1,697.63%		1,878.15%
3 Months Avg PSA Approximation										1,864.64%		1,622.67%		1,708.14%
12 Months Avg PSA Approximation										1,864.64%		1,622.67%		1,708.14%
Avg PSA Since Cut-off Approximation										1,864.64%		1,622.67%		1,708.14%
Page 18 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.002min(30,WAS)) Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn)(1-SMMn+1)...(1-SMMm)]^(1/months in period n,m) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*Avg WASn,m)) Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m) Weighted Average Seasoning (WAS) Dates correspond to distribution dates. Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases.
Page 19 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment
Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date
1000195855 1			232,000.00		230,724.44			04-Apr-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1000200766 1			450,000.00		447,626.46			26-Apr-2005		6.500%		CA - 78.95%		Paid Off - 360		01-Dec-2004
1000201793 1			166,500.00		165,678.62			15-Apr-2005		6.100%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1000202373 1			315,000.00		313,615.22			19-Apr-2005		6.700%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1000203224 2			334,750.00		334,750.00			21-Apr-2005		6.300%		CA - 65.00%		Paid Off - 360		01-Dec-2004
1000205418 1			240,000.00		239,376.59			31-Mar-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000205462 1			60,000.00		59,942.24			31-Mar-2005		11.525%		CA - 100.00%		Paid Off - 360		01-Feb-2005
1000208135 1			183,300.00		182,760.83			20-Apr-2005		7.600%		VA - 65.00%		Paid Off - 360		01-Jan-2005
1000208447 1			170,000.00		169,316.68			24-Apr-2005		5.990%		CA - 77.98%		Paid Off - 360		01-Jan-2005
1000210207 1			220,000.00		219,339.44			20-Apr-2005		7.490%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1000211200 2			154,550.00		154,550.00			31-Mar-2005		6.350%		CA - 73.60%		Paid Off - 360		01-Feb-2005
1000211995 1			388,000.00		387,452.52			28-Apr-2005		9.750%		MA - 80.00%		Paid Off - 360		01-Feb-2005
1000212098 2			348,000.00		348,000.00			12-Apr-2005		6.900%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000212123 2			81,000.00		80,803.25			21-Apr-2005		7.100%		WI - 60.00%		Paid Off - 360		01-Feb-2005
1000212129 2			87,000.00		86,905.86			12-Apr-2005		10.990%		CA - 100.00%		Paid Off - 360		01-Feb-2005
1000213048 2			616,000.00		614,303.99			20-Apr-2005		6.450%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000213516 1			242,000.00		241,323.99			28-Apr-2005		6.375%		CA - 67.22%		Paid Off - 360		01-Feb-2005
1000213982 1			201,000.00		200,469.49			26-Apr-2005		6.750%		CA - 78.82%		Paid Off - 360		01-Feb-2005
1000214338 1			371,000.00		370,036.33			18-Apr-2005		6.750%		MA - 78.60%		Paid Off - 360		01-Feb-2005
1000214670 1			80,100.00		79,945.70			12-Apr-2005		8.250%		UT - 90.00%		Paid Off - 360		01-Feb-2005
1000215719 2			472,000.00		470,468.53			13-Apr-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000216288 1			282,750.00		282,476.31			19-Apr-2005		11.500%		CA - 65.00%		Paid Off - 360		01-Feb-2005
1000216336 1			196,286.00		196,286.00			27-Apr-2005		5.250%		CA - 62.31%		Paid Off - 360		01-Feb-2005
1000216583 1			100,800.00		100,649.40			26-Apr-2005		9.450%		VA - 90.00%		Paid Off - 360		01-Feb-2005
1000216791 1			607,500.00		606,069.64			25-Apr-2005		7.250%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1000216855 1			324,800.00		324,140.48			21-Apr-2005		7.990%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000217804 2			292,318.00		292,318.00			25-Apr-2005		5.990%		CA - 89.94%		Paid Off - 360		01-Feb-2005
1000217856 1			21,998.00		21,930.51			13-Apr-2005		11.990%		CA - 100.00%		Paid Off - 240		01-Feb-2005
5000117661 1			152,800.00		152,800.00			15-Apr-2005		6.990%		CO - 80.00%		Paid Off - 360		01-Nov-2004
5000124824 2			364,500.00		363,598.42			06-Apr-2005		7.000%		IL - 90.00%		Paid Off - 360		01-Feb-2005
5000125004 1			180,000.00		179,481.72			07-Apr-2005		7.700%		MN - 80.00%		Paid Off - 360		01-Jan-2005
5000125160 1			131,250.00		131,004.78			26-Apr-2005		8.400%		IL - 75.00%		Paid Off - 360		01-Feb-2005
5000125419 1			7,350.00		7,251.75			26-Apr-2005		11.750%		IL - 95.00%		Paid Off - 120		01-Feb-2005
5000129055 1			90,000.00		89,826.65			12-Apr-2005		8.250%		TX - 90.00%		Paid Off - 360		01-Feb-2005
5000129363 1			158,000.00		157,601.45			05-Apr-2005		6.900%		MD - 84.95%		Paid Off - 360		01-Feb-2005
6000115803 2			127,500.00		127,230.90			19-Apr-2005		10.300%		FL - 75.00%		Paid Off - 360		01-Dec-2004
6000118751 1			128,000.00		127,606.76			21-Apr-2005		8.500%		FL - 77.58%		Paid Off - 360		01-Dec-2004
Page 20 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment
Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date
6000119453 1			53,910.00		53,773.88			27-Apr-2005		9.450%		MO - 90.00%		Paid Off - 360		01-Dec-2004
6000119933 1			32,600.00		32,542.33			28-Apr-2005		11.125%		GA - 100.00%		Paid Off - 360		01-Dec-2004
6000120338 1			160,000.00		159,289.76			28-Apr-2005		6.650%		NY - 58.82%		Paid Off - 360		01-Dec-2004
6000124205 1			5,875.00		5,799.82			11-Apr-2005		12.500%		FL - 95.00%		Paid Off - 120		01-Feb-2005
6000126628 1			96,800.00		96,560.08			18-Apr-2005		6.990%		FL - 80.00%		Paid Off - 360		01-Feb-2005
6000127187 1			202,500.00		202,037.19			13-Apr-2005		7.400%		FL - 90.00%		Paid Off - 360		01-Feb-2005
6000127472 1			115,850.00		115,724.93			11-Apr-2005		11.000%		MD - 70.00%		Paid Off - 360		01-Feb-2005
6000128879 2			86,400.00		86,210.24			11-Apr-2005		7.600%		FL - 80.00%		Paid Off - 360		01-Feb-2005
6000128941 1			112,000.00		111,733.66			18-Apr-2005		7.200%		FL - 89.60%		Paid Off - 360		01-Feb-2005
6000129875 1			168,800.00		168,548.91			06-Apr-2005		9.500%		FL - 80.00%		Paid Off - 360		01-Feb-2005
6000130035 2			63,600.00		63,519.27			06-Apr-2005		10.250%		FL - 100.00%		Paid Off - 360		01-Feb-2005
6000130150 1			279,000.00		278,162.58			17-Apr-2005		6.000%		NJ - 74.40%		Paid Off - 360		01-Feb-2005
6000130677 2			85,860.00		85,701.23			05-Apr-2005		8.450%		FL - 90.00%		Paid Off - 360		01-Feb-2005
6000130738 1			76,000.00		75,836.41			21-Apr-2005		7.700%		FL - 80.00%		Paid Off - 360		01-Feb-2005
6000130934 2			880,000.00		880,000.00			28-Apr-2005		6.000%		FL - 80.00%		Paid Off - 360		01-Feb-2005
6000130989 1			9,540.00		9,479.35			05-Apr-2005		11.500%		FL - 100.00%		Paid Off - 180		01-Feb-2005
6000131009 2			699,000.00		697,746.57			18-Apr-2005		8.600%		FL - 100.00%		Paid Off - 360		01-Feb-2005
6000131103 2			54,400.00		54,293.04			28-Apr-2005		8.150%		TN - 71.58%		Paid Off - 360		01-Feb-2005
7000117764 2			245,000.00		243,290.19			21-Apr-2005		7.600%		CA - 49.00%		Paid Off - 360		01-Nov-2004
7000118035 1			205,000.00		204,301.61			18-Apr-2005		7.990%		CA - 35.65%		Paid Off - 360		01-Dec-2004
7000119061 1			179,600.00		178,957.94			20-Apr-2005		7.750%		CA - 84.99%		Paid Off - 360		01-Dec-2004
7000119094 1			281,250.00		280,211.93			12-Apr-2005		7.590%		CA - 75.00%		Paid Off - 360		01-Dec-2004
7000119185 1			23,600.00		23,476.64			28-Apr-2005		11.900%		HI - 100.00%		Paid Off - 240		01-Dec-2004
7000123377 1			230,000.00		230,000.00			12-Apr-2005		6.450%		CA - 100.00%		Paid Off - 360		01-Jan-2005
7000123602 2			839,800.00		837,016.83			11-Apr-2005		6.990%		CA - 85.00%		Paid Off - 360		01-Jan-2005
7000125889 1			144,000.00		143,625.93			21-Apr-2005		6.750%		WA - 80.00%		Paid Off - 360		01-Feb-2005
7000125968 1			337,500.00		336,372.69			26-Apr-2005		6.950%		CA - 90.00%		Paid Off - 360		01-Jan-2005
7000126287 1			317,400.00		316,542.12			27-Apr-2005		6.550%		CA - 89.98%		Paid Off - 360		01-Feb-2005
7000128571 1			234,000.00		233,525.82			03-Apr-2005		8.000%		CA - 90.00%		Paid Off - 360		01-Feb-2005
7000128708 2			432,000.00		432,000.00			27-Apr-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Feb-2005
7000128713 2			620,000.00		620,000.00			19-Apr-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Feb-2005
7000128755 2			155,000.00		154,759.58			19-Apr-2005		9.300%		CA - 100.00%		Paid Off - 360		01-Feb-2005
7000128890 1			13,000.00		12,828.66			03-Apr-2005		11.990%		CA - 95.00%		Paid Off - 120		01-Feb-2005
7000129419 1			130,000.00		129,635.40			04-Apr-2005		6.990%		CA - 33.68%		Paid Off - 360		01-Feb-2005
7000129497 1			260,000.00		259,461.31			22-Apr-2005		7.890%		CA - 71.23%		Paid Off - 360		01-Feb-2005
8000023134 1			262,500.00		261,116.46			19-Apr-2005		5.750%		NY - 75.00%		Paid Off - 360		01-Dec-2004
8000025082 1			274,000.00		272,896.74			22-Apr-2005		7.150%		NJ - 75.07%		Paid Off - 360		01-Dec-2004
8000026996 1			121,600.00		121,375.12			20-Apr-2005		8.450%		NJ - 80.00%		Paid Off - 360		01-Feb-2005
Page 21 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment
Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date
8000027630 1			262,500.00		262,048.29			21-Apr-2005		8.800%		NY - 70.00%		Paid Off - 360		01-Feb-2005
8000028432 1			194,650.00		194,282.55			14-Apr-2005		8.350%		NJ - 85.00%		Paid Off - 360		01-Feb-2005
8000029641 1			228,500.00		227,852.41			18-Apr-2005		6.300%		NJ - 58.29%		Paid Off - 360		01-Feb-2005
8000029730 2			142,500.00		142,369.43			26-Apr-2005		11.750%		RI - 67.86%		Paid Off - 360		01-Feb-2005
8000030247 2			394,200.00		393,359.93			11-Apr-2005		7.750%		NJ - 90.00%		Paid Off - 360		01-Feb-2005
8000031211 1			459,000.00		457,919.31			27-Apr-2005		7.250%		MA - 90.00%		Paid Off - 360		01-Feb-2005
8000032365 2			420,000.00		418,832.41			22-Apr-2005		6.400%		NJ - 80.00%		Paid Off - 360		01-Feb-2005
8000032429 2			105,000.00		104,851.80			22-Apr-2005		9.749%		NJ - 100.00%		Paid Off - 360		01-Feb-2005
TOTAL			19,271,787.00		19,227,533.30
Page 22 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Realized Loss Report
COLLATERAL REALIZED LOSSES
											Group 2		Group 1		Total
Current
Number of Loans Liquidated										0		0		0
Collateral Principal Realized Loss/(Gain) Amount										0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00
Cumulative
Number of Loans Liquidated										0		0		0
Collateral Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00
Page 23 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
DEFAULT SPEEDS
											Group 2		Group 1		Total
MDR										0.00%		0.00%		0.00%
3 Months Avg MDR										0.00%		0.00%		0.00%
12 Months Avg MDR										0.00%		0.00%		0.00%
Avg MDR Since Cut-off										0.00%		0.00%		0.00%
CDR										0.00%		0.00%		0.00%
3 Months Avg CDR										0.00%		0.00%		0.00%
12 Months Avg CDR										0.00%		0.00%		0.00%
Avg CDR Since Cut-off										0.00%		0.00%		0.00%
SDA										0.00%		0.00%		0.00%
3 Months Avg SDA Approximation										0.00%		0.00%		0.00%
12 Months Avg SDA Approximation										0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation										0.00%		0.00%		0.00%
Loss Severity Approximation for Current Period										0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off										0.00%		0.00%		0.00%
Page 24 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
	Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
	Conditional Default Rate (CDR): 1-((1-MDR)^12)
	SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))
	Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)(1-MDRn+1)...*(1-MDRm)]^(1/months in period n,m)
	Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
	Average SDA Approximation over period between the nth month and mth month:
	AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))
	Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)
	Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
	Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
	Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
	Dates correspond to distribution dates.
Page 25 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative
&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized
Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
TOTAL
Page 26 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
										Group 2		Group 1		Total
						Has Stepdown Condition occurred (0 = No, 1=Yes)								0
						Does a Trigger Event Exist-Either a) or b) Yes?								0
						a) Does a Delinquency Trigger Event Exists								0
						b) Does a Loss Trigger Event Exists (0=No,1=Yes)								0
						Has Sequential Trigger Event Occured (0=No,1=Yes)								0
						60+ days Delinqueny Balance								5,984,800.12
						Ending Collateral Balance								1,301,181,827.10
						Delinquency Percentage								0.4600%
						Senior Enhancement Percentage								23.900000%
						Cumulative Loss Percentage								0.0000%
ADJUSTABLE RATE CERTIFICATE INFORMATION
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION
SPACE INTENTIONALLY LEFT BLANK
Page 27 of 28
Fremont Home Loan Trust 2005-1
Asset Backed Certificates
2005-1
May 25, 2005 Distribution
Additional Certificate Report
ADDITIONAL CERTIFICATE REPORT
													NET WAC Shortfall CarryOver		NET WAC Shortfall Paid
CLASS
			I-A1										$0.00		$0.00
			I-A2										$0.00		$0.00
			II-A1										$0.00		$0.00
			II-A2										$0.00		$0.00
			II-A3										$0.00		$0.00
			M-1										$0.00		$0.00
			M-2										$0.00		$0.00
			M-3										$0.00		$0.00
			M-4										$0.00		$0.00
			M-5										$0.00		$0.00
			M-6										$0.00		$0.00
			M-7										$0.00		$0.00
			M-8										$0.00		$0.00
			M-9										$0.00		#######
			B-1										$0.00		#######
			B-2										$0.00		#######
			B-3										$0.00		#######
Page 28 of 28

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 23, 2005

Financial Asset Securities Corp.

(Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation)	333-121661-07 (Commission File Number)		06-1442101 (IRS Employer Identification No.)

600 Steamboat Road, Greenwich, Connecticut (Address of principal executive offices)		06830 (Zip Code)

Registrant's telephone number, including area code (203) 625-2700

(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 (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 - Completion of Acquisition or Disposition of Assets

Item 2.01 Completion of Acquisition or Disposition of Assets

On March 29, 2005, a single series of certificates, entitled Fremont Home Loan Trust 2005-1, Asset-Backed Certificates, Series 2005-1 (the “Certificates”), were issued pursuant to a pooling and servicing agreement, dated as of March 1, 2005 (the “Agreement”), among Financial Asset Securities Corp. (the “Depositor”), Litton Loan Servicing LP, as servicer (“Litton”) and Deutsche Bank National Trust Company (the “Trustee”).

On May 23, 2005, following the closing of the initial issuance of the Certificates, the Trustee purchased from the Depositor certain Subsequent Mortgage Loans, as defined in the Agreement, with an aggregate Stated Principal Balance equal to $572,150,167.75 with funds on deposit in the pre-funding accounts (the “Group I Pre-Funding Account” and the “Group II Pre-Funding Account” together the “Pre-Funding Accounts”) established pursuant to the Agreement at a purchase price equal to the Stated Principal Balance thereof, which Subsequent Mortgage Loans were conveyed to the Trustee pursuant to a Subsequent Transfer Instrument, dated May 23, 2005 (the “Instrument”), between the Depositor and the Trustee. Attached to the Instrument is the Mortgage Loan Schedule listing the Subsequent Mortgage Loans that are the subject of such Instrument.

Section 8 - Other Events

Item 8.01. Other Events

Description of the Mortgage Pool

The Certificates, issued pursuant to the Agreement, evidence in the aggregate the entire beneficial ownership interest in a trust fund (the “Trust Fund”), consisting primarily of a segregated pool (the “Mortgage Pool”) of conventional, one- to four- family, first lien and second lien, adjustable-rate and fixed-rate mortgage loans having original terms to maturity of not greater than 30 years (the “Mortgage Loans”). After the Subsequent Transfer Date, the Trust Fund primarily consisted of the Mortgage Pool, which consisted of Group I Mortgage Loans having an aggregate Stated Principal Balance of approximately $1,209,311,169.00, and Group II Mortgage Loans having an aggregate Stated Principal Balance of approximately $696,361,713.94.

The tables attached as an exhibit hereto describe certain characteristics of the Mortgage Pool as of the respective applicable Subsequent Cut-off Date.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(a)	Not applicable
(b)	Not applicable
(c)	Exhibits

Exhibit No.	Description
4.2	Subsequent Transfer Instrument, dated as May 23, 2005 between Financial Asset Securities Corp. as seller and Deutsche Bank National Trust Company, as trustee.
99.1	Characteristics of the Mortgage Pool as of the Subsequent Cut-off Date relating to Fremont Home Loan Trust 2005-1, Asset-Backed Certificates, Series 2005-1.

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 the undersigned thereunto duly authorized.

Dated: _____June 6______, 2005

FINANCIAL ASSET SECURITIES CORP.

By:

/s/ Frank Skibo

Name:

Frank Skibo

Title:

Managing Director

Index to Exhibits

Exhibit No.

Description

Sequentially

Numbered Page

4.2

Subsequent Transfer Instrument, dated as May 23, 2005, between Financial Asset Securities Corp. as seller and Deutsche Bank National Trust Company as trustee.

99.1

Characteristics of the Mortgage Pool as of the Subsequent Cut-off Date, relating to Fremont Home Loan Trust 2005-1, Asset-Backed Certificates, Series 2005-1.

Filing Compare · Fremont Home Loan Trust 2005-1