8-K 1 eight-k.txt EIGHT-K.TXT 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 -August 25, 2005 --------------------------------- (Date of Earliest Event Reported) POPULAR ABS, INC. ------------------------------------------------------------------------- (as depositor under a certain Pooling and Servicing Agreement dated as of March 1, 2005, providing for the issuance of Mortgage Pass-Through Certificates, Series 2005-2) (Exact Name of Registrant as specified in its charter)

~~Page~~Delaware ~~1 of 11 POPULAR ABS MORTGAGE PASS~~333-~~THROUGH TRUST 2005~~115371-204 ~~STATEMENT TO CERTIFICATEHOLDERS JULY 25, 2005~~ 52-~~-----------------------------------------------------------------------------------------------------------------------------------~~2029487 ~~DISTRIBUTION IN DOLLARS~~ ------------------------~~------------------------------------------------------------------------------------------------------------~~ ~~CLASS ORIGINAL BEGINNING PRINCIPAL INTEREST TOTAL REALIZED DEFERRED ENDING FACE VALUE PRINCIPAL LOSSES INTEREST PRINCIPAL BALANCE BALANCE~~ ---------------------~~---------------------------------------------------------------------------------------------------------------~~ AF1 124,300,000.00 111,929,910.02 5,306,594.58 296,334.57 5,602,929.15 0.00 0.00 106,623,315.44 AF2 23,000,000.00 23,000,000.00 0.00 84,609.65 84,609.65 0.00 0.00 23,000,000.00 AF3 41,000,000.00 41,000,000.00 0.00 157,829.14 157,829.14 0.00 0.00 41,000,000.00 AF4 30,600,000.00 30,600,000.00 0.00 130,670.23 130,670.23 0.00 0.00 30,600,000.00 AF5 11,483,000.00 11,483,000.00 0.00 51,982.41 51,982.41 0.00 0.00 11,483,000.00 AF6 13,000,000.00 13,000,000.00 0.00 54,159.51 54,159.51 0.00 0.00 13,000,000.00 AV1A 110,143,000.00 103,782,193.47 2,409,203.46 282,027.27 2,691,230.73 0.00 0.00 101,372,990.01 AV1B 27,536,000.00 25,945,783.92 602,306.33 72,121.65 674,427.98 0.00 0.00 25,343,477.59 AV2 42,364,000.00 39,277,192.80 107,643.12 107,040.90 214,684.02 0.00 0.00 39,169,549.68 M1 37,119,000.00 37,119,000.00 0.00 167,539.20 167,539.20 0.00 0.00 37,119,000.00 M2 27,574,000.00 27,574,000.00 0.00 131,349.77 131,349.77 0.00 0.00 27,574,000.00 M3 4,772,000.00 4,772,000.00 0.00 23,320.07 23,320.07 0.00 0.00 4,772,000.00 M4 7,424,000.00 7,424,000.00 0.00 37,504.80 37,504.80 0.00 0.00 7,424,000.00 M5 4,242,000.00 4,242,000.00 0.00 21,914.10 21,914.10 0.00 0.00 4,242,000.00 M6 6,098,000.00 6,098,000.00 0.00 31,502.17 31,502.17 0.00 0.00 6,098,000.00 B1 6,363,000.00 6,363,000.00 0.00 31,245.74 31,245.74 0.00 0.00 6,363,000.00 B2 5,780,000.00 5,780,000.00 0.00 28,382.90 28,382.90 0.00 0.00 5,780,000.00 B3 7,477,000.00 7,477,000.00 0.00 36,716.08 36,716.08 0.00 0.00 7,477,000.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -----------------------~~-------------------------------------------------------------------------------------------------------------~~ ~~TOTALS~~(State ~~530,275,000.00~~of ~~506,867,080.21~~Incorporation) ~~8,425,747.49~~(Commission ~~1,746,250.16~~File ~~10,171,997~~No.65) ~~0.00~~(IRS ~~0.00~~Employer ~~498,441,332~~I.~~72 ------------------------------------------------------------------------------------------------------------------------------------ X 530,275,524~~D.00 ~~510,037,410~~No.26 0.00 21.03 21.03 0.00 0.00 502,596,808.09 ------------------------------------------------------------------------------------------------------------------------------------ [GRAPHIC OMITTED] COPYRIGHT 2005 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. ------------------------------------------------------------------------------------------------------------------------------------)

103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803 ----------------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (302) 478-6160 Item 8.01. Other Events. Attached hereto as Annex A is a copy of the Statement to Certificateholders sent to Class AF-1, AF-2, AF-3, AF-4, AF-5, AF-6, AV-1A, AV-1B, AV-2, M-1, M-2, M-3, M-4, M-5 and M-6 Certificateholders with respect to the August 25, 2005 Distribution Date. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. POPULAR ABS, INC. By: /s/ James H. Jenkins -------------------------------- James H. Jenkins, Executive Vice President and CFO Dated: August 25, 2005 3 Page 1 of 10 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 STATEMENT TO CERTIFICATEHOLDERS AUGUST 25, 2005

~~Page~~DISTRIBUTION 2IN ofDOLLARS ~~11 POPULAR ABS MORTGAGE PASS~~-~~THROUGH TRUST 2005~~-~~2 STATEMENT TO CERTIFICATEHOLDERS JULY 25, 2005~~ ------------------------------------------------------------------------------------------------------------------------------------ ~~FACTOR~~CLASS ~~INFORMATION PER $1000 OF~~ ORIGINAL ~~FACE PASS-THROUGH RATES ------------------------------------------------------------------------------------------------------------------------------------ CLASS CUSIP~~ BEGINNING PRINCIPAL INTEREST TOTAL ~~ENDING~~REALIZED ~~CLASS~~DEFERRED ~~CURRENT~~ENDING ~~PASS-~~FACE VALUE PRINCIPAL LOSSES INTEREST PRINCIPAL ~~THRU~~BALANCE ~~RATE~~BALANCE ------------------------------------------------------------------------------------------------------------------------------------ AF1 ~~73316PCA6~~124,300,000.00 ~~900~~106,623,315.~~48197924~~44 426,257,173.~~69183089~~64 2325,900.~~38402711~~82 456,583,074.~~07585800~~46 ~~857~~0.~~79014835~~00 ~~AF1~~0.00 3100,366,141.~~404380%~~80 AF2 ~~73316PCB4~~23,000,000.00 123,000,000.~~00000000~~00 0.~~00000000~~00 384,610.~~67868043~~26 384,610.~~67868043~~26 ~~1,000~~0.~~00000000~~00 ~~AF2~~0.00 423,000,000.~~415000%~~00 AF3 ~~73316PCC2~~41,000,000.00 141,000,000.~~00000000~~00 0.~~00000000~~00 3157,830.~~84949122~~28 3157,830.~~84949122~~28 ~~1,000~~0.~~00000000~~00 ~~AF3~~0.00 441,000,000.~~620000%~~00 AF4 ~~73316PCD0~~30,600,000.00 130,600,000.~~00000000~~00 0.~~00000000~~00 4130,671.~~27026895~~17 4130,671.~~27026895~~17 ~~1,000~~0.~~00000000~~00 ~~AF4~~0.00 530,600,000.~~125000%~~00 AF5 ~~73316PCE8~~11,483,000.00 111,483,000.~~00000000~~00 0.~~00000000~~00 451,982.~~52690151~~78 451,982.~~52690151~~78 ~~1,000~~0.~~00000000~~00 ~~AF5~~0.00 511,483,000.~~433000%~~00 AF6 ~~73316PCF5~~13,000,000.00 113,000,000.~~00000000~~00 0.~~00000000~~00 454,159.~~16611615~~90 454,159.~~16611615~~90 ~~1,000~~0.~~00000000~~00 ~~AF6~~0.00 513,000,000.~~000000%~~00 AV1A ~~73316PCG3 942~~110,143,000.~~24956166~~00 21101,372,990.~~87341420~~01 2,236,732.~~56055555~~50 24317,708.~~43396975~~31 ~~920~~2,554,440.~~37614746~~81 ~~AV1A~~0.00 30.~~494380%~~00 99,136,257.51 AV1B ~~73316PCH1~~27,536,000.00 ~~942~~25,343,477.~~24956130~~59 21559,188.~~87341408~~20 281,173.~~61917671~~47 24640,361.~~49259079~~67 ~~920~~0.~~37614723~~00 ~~AV1B~~0.00 324,784,289.~~574380%~~39 AV2 ~~73316PCJ7~~42,364,000.00 ~~927~~39,169,549.~~13607780~~68 2258,263.~~54091021~~46 2123,096.~~52669484~~69 5381,360.~~06760504~~15 ~~924~~0.~~59516760~~00 ~~AV2~~0.00 338,911,286.~~504380%~~22 M1 ~~73316PCK4~~37,119,000.00 137,119,000.~~00000000~~00 0.~~00000000~~00 4167,540.~~51356987~~41 4167,540.~~51356987~~41 ~~1,000~~0.~~00000000~~00 M10.00 537,119,000.~~417000%~~00 M2 ~~73316PCL2~~27,574,000.00 127,574,000.~~00000000~~00 0.~~00000000~~00 4131,350.~~76353703~~72 4131,350.~~76353703~~72 ~~1,000~~0.~~00000000~~00 M20.00 527,574,000.~~717000%~~00 M3 ~~73316PCM0~~4,772,000.00 14,772,000.~~00000000~~00 0.~~00000000~~00 423,320.~~88685457~~24 423,320.~~88685457~~24 ~~1,000~~0.~~00000000~~00 M30.00 54,772,000.~~865000%~~00 M4 ~~73316PCN8~~7,424,000.00 17,424,000.~~00000000~~00 0.~~00000000~~00 537,505.~~05183190~~07 537,505.~~05183190~~07 ~~1,000~~0.~~00000000~~00 M40.00 67,424,000.~~063000%~~00 M5 ~~73316PCP3~~4,242,000.00 14,242,000.~~00000000~~00 0.~~00000000~~00 521,914.~~16598303~~26 521,914.~~16598303~~26 10.00 0.00 4,242,000.~~00000000~~00 M5M6 6,098,000.~~200000%~~00 ~~M6 73316PCQ1 1~~6,098,000.~~00000000~~00 0.~~00000000~~00 531,502.~~16598393~~39 531,502.~~16598393~~39 ~~1,000~~0.~~00000000~~00 M60.00 6,098,000.~~200000%~~00 B1 ~~73316PCR9~~6,363,000.00 16,363,000.~~00000000~~00 0.~~00000000~~00 435,391.~~91053591~~71 435,391.~~91053591~~71 ~~1,000~~0.~~00000000~~00 B10.00 6,363,000.~~314380%~~00 B2 ~~73316PCS7~~5,780,000.00 15,780,000.~~00000000~~00 0.~~00000000~~00 432,149.~~91053633~~00 432,149.~~91053633~~00 ~~1,000~~0.~~00000000~~00 B20.00 65,780,000.~~314380%~~00 B3 ~~73316PCT5~~7,477,000.00 17,477,000.~~00000000~~00 0.~~00000000~~00 441,587.~~91053631~~90 441,587.~~91053631~~90 10.00 0.00 7,477,000.~~00000000~~00 B3R1 60.~~314380%~~00 ~~------------------------------------------------------------------------------------------------------------------------------------~~0.00 ~~TOTALS~~0.00 ~~955~~0.~~85701798~~00 150.~~88939228~~00 30.~~29310294~~00 190.~~18249521~~00 ~~939~~0.~~96762570~~00 R2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ------------------------------------------------------------------------------------------------------------------------------------ XTOTALS ~~n/a~~530,275,000.00 ~~961~~498,441,332.~~83472021~~72 09,311,357.~~00000000~~80 01,849,395.~~00003966~~38 011,160,753.~~00003966~~18 ~~947~~0.~~80314260~~00 X 0.~~000000%~~00 489,129,974.92 ==================================================================================================================================== ------------------------------------------------------------------------------------------------------------------------------------ ~~[GRAPHIC~~X ~~OMITTED]~~530,275,524.00 ~~COPYRIGHT~~502,596,808.09 ~~2005~~0.00 J13.P41 13.41 ~~MORGAN~~0.00 ~~CHASE & CO~~0.00 ~~ALL RIGHTS RESERVED~~494,130,890.10 ------------------------------------------------------------------------------------------------------------------------------------

~~Page~~FACTOR 3INFORMATION ofPER 11$1000 OF ORIGINAL FACE PASS-THROUGH RATES ------------------------------------------------------------------------------------------------------------------------------------ ~~POPULAR~~CLASS ~~ABS~~CUSIP ~~MORTGAGE~~BEGINNING ~~PASS-THROUGH~~PRINCIPAL ~~TRUST~~INTEREST ~~2005~~TOTAL ENDING CLASS CURRENT PASS-2 ~~JULY~~PRINCIPAL ~~25,~~PRINCIPAL ~~2005~~THRU RATE ------------------------------------------------------------------------------------------------------------------------------------ ~~Sec~~AF1 73316PCA6 857.79014835 450.~~03(a)(i)~~33928914 ~~Funds~~2.62188914 ~~Allocable~~52.96117828 to807.45085921 ~~Certificate~~AF1 ~~Principal~~3.550000 ~~Group~~% IAF2 ~~Scheduled~~73316PCB4 ~~Principal 342~~1,~~260~~000.7500000000 ~~Group~~0.00000000 I3.67870696 ~~Curtailments~~3.67870696 191,~~618~~000.3000000000 ~~Group~~AF2 ~~I Prepayments~~ 4~~,324,264~~.13415000 ~~Group~~% IAF3 ~~Repurchases~~73316PCC2 1,000.00000000 0.0000000000 ~~Group~~3.84951902 I3.84951902 ~~Liquidation~~1,000.00000000 ~~Proceeds~~AF3 04.00620000 ~~Group~~% ~~II-A~~AF4 ~~Scheduled~~73316PCD0 ~~Principal 113~~1,~~824~~000.0400000000 ~~Group~~0.00000000 ~~II-A~~4.27029967 ~~Curtailments~~4.27029967 311,~~806~~000.5100000000 ~~Group~~AF4 ~~II-A Prepayments 2,513,771~~5.04125000 ~~Group~~% ~~II-A~~AF5 ~~Repurchases~~73316PCE8 1,000.00000000 0.0000000000 ~~Group~~4.52693373 ~~II-A~~4.52693373 ~~Liquidation~~1,000.00000000 ~~Proceeds~~AF5 05.00433000 ~~Group~~% ~~II-B~~AF6 ~~Scheduled~~73316PCF5 ~~Principal 35~~1,~~128~~000.4800000000 ~~Group~~0.00000000 ~~II-B~~4.16614615 ~~Curtailments~~4.16614615 1,~~421~~000.7000000000 ~~Group~~AF6 ~~II-B~~5.000000 ~~Prepayments~~% ~~58,507~~AV1A 73316PCG3 920.2237614746 ~~Group~~20.30753203 ~~II-B~~2.88450750 ~~Repurchases~~23.19203953 0900.0006861544 ~~Group~~AV1A ~~II-B~~3.640000 ~~Liquidation~~% ~~Proceeds~~AV1B 073316PCH1 920.0037614723 ~~Extra~~20.30753196 ~~Principal~~2.94790347 ~~Distribution~~23.25543543 ~~Amount~~900.06861527 ~~985,145~~AV1B 3.33720000 ~~Sec~~% AV2 73316PCJ7 924.59516760 46.0309629544 ~~(a)(ii)~~2.90569092 ~~Interest~~9.00198636 ~~Distribution~~918.49887216 ~~Amounts~~AV2 ~~Interest~~3.650000 ~~Distribution~~% -M1 ~~AF-1~~73316PCK4 ~~296~~1,~~334~~000.5700000000 ~~Unpaid~~0.00000000 ~~Interest~~4.51360247 -4.51360247 ~~AF-~~1 0,000.0000000000 ~~Remaining~~M1 ~~Unpaid~~5.417000 ~~Interest~~% -M2 ~~AF-~~73316PCL2 1,000.00000000 0.0000000000 ~~Interest~~4.76357148 ~~Distribution~~4.76357148 -1,000.00000000 ~~AF-2~~M2 ~~84,609~~5.65717000 ~~Unpaid~~% ~~Interest~~M3 -73316PCM0 ~~AF-2~~1,000.00000000 0.0000000000 ~~Remaining~~4.88689019 ~~Unpaid~~4.88689019 ~~Interest~~1,000.00000000 -M3 ~~AF-2 0~~5.00865000 ~~Interest~~% ~~Distribution~~M4 -73316PCN8 ~~AF-3 157~~1,~~829~~000.1400000000 ~~Unpaid~~0.00000000 ~~Interest~~5.05186827 -5.05186827 ~~AF-3 0~~1,000.0000000000 ~~Remaining~~M4 ~~Unpaid~~6.063000 ~~Interest~~% -M5 ~~AF-3~~73316PCP3 1,000.00000000 0.0000000000 ~~Interest~~5.16602074 ~~Distribution~~5.16602074 -1,000.00000000 ~~AF-4~~M5 ~~130,670~~6.23200000 ~~Unpaid~~% ~~Interest~~M6 -73316PCQ1 ~~AF-4~~1,000.00000000 0.0000000000 ~~Remaining~~5.16602001 ~~Unpaid~~5.16602001 ~~Interest~~1,000.00000000 -M6 ~~AF-4 0~~6.00200000 ~~Interest~~% ~~Distribution~~B1 -73316PCR9 ~~AF-5 51~~1,~~982~~000.4100000000 ~~Unpaid~~0.00000000 ~~Interest~~5.56211064 ~~- AF-~~5.56211064 01,000.0000000000 ~~Remaining~~B1 ~~Unpaid~~6.207538 ~~Interest~~% -B2 ~~AF-5~~73316PCS7 1,000.00000000 0.0000000000 ~~Interest~~5.56211073 ~~Distribution~~5.56211073 -1,000.00000000 ~~AF-~~B2 6.207538 54% B3 73316PCT5 1,~~159~~000.5100000000 ~~Unpaid~~0.00000000 ~~Interest~~5.56211047 -5.56211047 ~~AF-6~~1,000.00000000 0B3 6.00207538 % ------------------------------------------------------------------------------------------------------------------------------------ ~~[GRAPHIC~~TOTALS ~~OMITTED]~~939.96762570 ~~COPYRIGHT~~17.55948857 ~~2005~~3.48761563 J21.P04710420 922.~~MORGAN~~40813714 ~~CHASE~~==================================================================================================================================== &------------------------------------------------------------------------------------------------------------------------------------ COX n/a 947.80314260 ~~ALL~~0.00000000 ~~RIGHTS~~0.00002529 ~~RESERVED~~0.00002529 931.83801201 X 0.000000 % ------------------------------------------------------------------------------------------------------------------------------------

[GRAPHIC OMITTED] COPYRIGHT 2005 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. Page 3 of 10 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 AUGUST 25, 2005 Sec. 4.03(a)(i) Funds Allocable to Certificate Principal Group I Scheduled Principal 340,317.50 Group I Curtailments 23,585.50 Group I Prepayments 5,325,140.43 Group I Repurchases 0.00 Group I Liquidation Proceeds 0.00 Group II-A Scheduled Principal 112,457.84 Group II-A Curtailments 10,676.56 Group II-A Prepayments 2,418,926.15 Group II-A Repurchases 0.00 Group II-A Liquidation Proceeds 0.00 Group II-B Scheduled Principal 35,299.31 Group II-B Curtailments 1,724.23 Group II-B Prepayments 197,790.47 Group II-B Repurchases 0.00 Group II-B Liquidation Proceeds 0.00 Extra Principal Distribution Amount 845,439.81 Sec. 4.03 (a)(ii) Interest Distribution Amounts Interest Distribution - AF-1 325,900.82 Unpaid Interest - AF-1 0.00 Remaining Unpaid Interest - AF-1 0.00 Interest Distribution - AF-2 84,610.26 Unpaid Interest - AF-2 0.00 Remaining Unpaid Interest - AF-2 0.00 Interest Distribution - AF-3 157,830.28 Unpaid Interest - AF-3 0.00 Remaining Unpaid Interest - AF-3 0.00 Interest Distribution - AF-4 130,671.17 Unpaid Interest - AF-4 0.00 Remaining Unpaid Interest - AF-4 0.00 Interest Distribution - AF-5 51,982.78 Unpaid Interest - AF-5 0.00 Remaining Unpaid Interest - AF-5 0.00 Interest Distribution - AF-6 54,159.90 Unpaid Interest - AF-6 0.00

[GRAPHIC OMITTED] COPYRIGHT 2005 J.P.MORGAN CHASE & CO. ALL RIGHTS RESERVED. Page 4 of 10 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 AUGUST 25, 2005 Remaining Unpaid Interest - AF-6 0.00 Interest Distribution - AV-1A 317,708.31 Unpaid Interest - AV-1A 0.00 Remaining Unpaid Interest - AV-1A 0.00 Interest Distribution - AV-1B 81,173.47 Unpaid Interest - AV-1B 0.00 Remaining Unpaid Interest - AV-1B 0.00 Interest Distribution - AV-2 123,096.69 Unpaid Interest - AV-2 0.00 Remaining Unpaid Interest - AV-2 0.00 Interest Distribution - M-1 167,540.41 Unpaid Interest - M-1 0.00 Remaining Unpaid Interest - M-1 0.00 Interest Distribution - M-2 131,350.72 Unpaid Interest - M-2 0.00 Remaining Unpaid Interest - M-2 0.00 Interest Distribution - M-3 23,320.24 Unpaid Interest - M-3 0.00 Remaining Unpaid Interest - M-3 0.00 Interest Distribution - M-4 37,505.07 Unpaid Interest - M-4 0.00 Remaining Unpaid Interest - M-4 0.00 Interest Distribution - M-5 21,914.26 Unpaid Interest - M-5 0.00 Remaining Unpaid Interest - M-5 0.00 Interest Distribution - M-6 31,502.39 Unpaid Interest - M-6 0.00 Remaining Unpaid Interest - M-6 0.00 Interest Distribution - B-1 35,391.71 Unpaid Interest - B-1 0.00 Remaining Unpaid Interest - B-1 0.00 Interest Distribution - B-2 32,149.00 Unpaid Interest - B-2 0.00 Remaining Unpaid Interest - B-2 0.00 Interest Distribution - B-3 41,587.90 Unpaid Interest - B-3 0.00

[GRAPHIC OMITTED] COPYRIGHT 2005 J.P.MORGAN CHASE & CO. ALL RIGHTS RESERVED. Page 5 of 10 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 AUGUST 25, 2005 Remaining Unpaid Interest - B-3 0.00 Interest Reductions Net Prepayment Interest Shortfalls 0.00 Relief Act Reductions 230.58 Class AF-1 Interest Reduction 40.73 Class AF-2 Interest Reduction 10.57 Class AF-3 Interest Reduction 19.72 Class AF-4 Interest Reduction 16.33 Class AF-5 Interest Reduction 6.50 Class AV-1B Interest Reduction 10.14 Class AV-1A Interest Reduction 39.70 Class AF-6 Interest Reduction 6.77 Class AV-2 Interest Reduction 15.38 Class M-1 Interest Reduction 20.94 Class M-2 Interest Reduction 16.41 Class M-3 Interest Reduction 2.91 Class M-4 Interest Reduction 4.69 Class M-5 Interest Reduction 2.74 Class M-6 Interest Reduction 3.94 Class B-1 Interest Reduction 4.25 Class B-2 Interest Reduction 3.86 Class B-3 Interest Reduction 4.99 Sec. 4.03(a)(iii) Available Funds Shortfall Class AF-1 Available Funds Shortfall 0.00 Class AF-2 Available Funds Shortfall 0.00 Class AF-3 Available Funds Shortfall 0.00 Class AF-4 Available Funds Shortfall 0.00 Class AF-5 Available Funds Shortfall 0.00 Class AF-6 Available Funds Shortfall 0.00 Class AV-1A Available Funds Shortfall 0.00 Class AV-1B Available Funds Shortfall 0.00 Class AV-2 Available Funds Shortfall 0.00 Class M-1 Available Funds Shortfall 0.00 Class M-2 Available Funds Shortfall 0.00 Class M-3 Available Funds Shortfall 0.00 Class M-4 Available Funds Shortfall 0.00 Class M-5 Available Funds Shortfall 0.00 Class M-6 Available Funds Shortfall 0.00 Class B-1 Available Funds Shortfall 0.00 Class B-2 Available Funds Shortfall 0.00 Class B-3 Available Funds Shortfall 0.00 Sec. 4.03(a)(v) Pool Principal Balances

[GRAPHIC OMITTED] COPYRIGHT 2005 J.P.MORGAN CHASE & CO. ALL RIGHTS RESERVED. Page 6 of 10 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 AUGUST 25, 2005 Group I Beginning Pool Balance 334,889,267.04 Group I Ending Pool Balance 329,200,223.61 Group II-A Beginning Pool Balance 128,106,275.22 Group II-A Ending Pool Balance 125,564,214.67 Group II-B Beginning Pool Balance 39,601,265.83 Group II-B Ending Pool Balance 39,366,451.82 Total Beginning Pool Balance 502,596,808.09 Total Ending Pool Balance 494,130,890.10 Sec. 4.03(a)(vi) Servicing Fee Group I Servicing Fee 139,537.19 Group II-A Servicing Fee 53,377.61 Group II-B Servicing Fee 16,500.53 Sec. 4.03(a)(viii) Delinquency Advances Group I Delinquency Advances Included in Current Distribution 0.00 Group I Recouped Advances Included in Current Distribution 31,683.99 Group I Recouped Advances From Liquidations 0.00 Group I Aggregate Amount of Advances Outstanding 1,692,634.64 Group II-A Delinquency Advances Included in Current Distribution 0.00 Group II-A Recouped Advances Included in Current 15,157.77 Distribution Group II-A Recouped Advances From Liquidations 0.00 Group II-A Aggregate Amount of Advances Outstanding 872,245.26 Group II-B Delinquency Advances Included in Current Distribution 5,233.86 Group II-B Recouped Advances Included in Current Distribution 0.00 Group II-B Recouped Advances From Liquidations 0.00 Group II-B Aggregate Amount of Advances Outstanding 233,709.41 Section 4.03(a)(ix) A Group I,Group II-A, and Group II-B Loans Delinquent

Delinquency by Group Group 1

~~Page~~Period 4Number ofPrincipal 11Balance Percentage ---------- ------- ----------------- ---------- 0-~~-----------------------------------------------------------------------------~~30 ~~POPULAR~~days ~~ABS~~135 ~~MORTGAGE~~21,389,843.05 ~~PASS-THROUGH~~6.50 ~~TRUST~~% ~~2005~~31-260 ~~JULY~~days 2515 1,960,662.96 ~~2005~~0.60 % 61-~~-------------------------------------------------------------------------------------------------------------------------~~90 ~~Remaining~~days ~~Unpaid~~9 ~~Interest~~1,086,442.99 -0.33 ~~AF-6~~% 91+days 2 243,742.37 0.0007 % ---------- ------- ----------------- ----------~~------------------------------------------------------------------------------~~ ~~[GRAPHIC~~Total ~~OMITTED]~~161 ~~COPYRIGHT~~24,680,691.37 ~~2005 J~~7.~~P.MORGAN~~50 ~~CHASE~~% &========== ~~CO.~~======= ~~ALL~~================= ~~RIGHTS RESERVED.~~==========

~~Page~~Period 5Number ofPrincipal 11Balance Percentage ---------- -------~~---------------------------------------------------------------------------------------------------------~~ ~~POPULAR ABS MORTGAGE PASS~~-~~THROUGH TRUST 2005~~-~~2 JULY 25, 2005~~ ---------------~~-----------------------------------------------------------------------------------------------------------~~ ~~Interest Distribution~~ - AV-~~1A 282,027.27 Unpaid Interest~~ - AV-~~1A 0.00 Remaining Unpaid Interest~~ - AV-~~1A 0.00 Interest Distribution~~ - AV-~~1B 72,121.65 Unpaid Interest~~ - AV-1B 0~~.00 Remaining Unpaid Interest~~ -30 ~~AV-1B~~days ~~0.00~~58 ~~Interest Distribution - AV-2 107~~9,~~040~~803,736.9022 ~~Unpaid Interest - AV-2 0~~7.0081 ~~Remaining~~% ~~Unpaid Interest~~ 31-60 ~~AV-2~~days ~~0.00~~10 ~~Interest Distribution - M-~~1 ~~167~~,~~539~~170,230.2034 ~~Unpaid Interest - M-1~~ 0.0093 ~~Remaining~~% ~~Unpaid Interest~~ 61-90 ~~M-1~~days ~~0.00 Interest Distribution - M-~~2 ~~131~~433,~~349~~599.7771 ~~Unpaid Interest - M-2~~ 0.0035 ~~Remaining~~% ~~Unpaid~~91+days ~~Interest - M-~~2 ~~0.00 Interest Distribution - M-3 23~~465,~~320~~009.0734 ~~Unpaid Interest - M-3~~ 0.~~00 Remaining Unpaid Interest - M-3 0.00 Interest Distribution - M-4~~ 37~~,504.80~~ ~~Unpaid~~% ~~Interest~~ - M-~~4 0.00 Remaining Unpaid Interest~~ - M-~~4 0.00 Interest Distribution~~ - M-~~5 21,914.10 Unpaid Interest~~ - M-~~5 0.00 Remaining Unpaid Interest~~ - M-5 ~~0.00 Interest Distribution~~ - M-~~6 31,502.17 Unpaid Interest~~ - M-~~6 0.00 Remaining Unpaid Interest~~ - M-~~6 0.00 Interest Distribution~~ - B-~~1 31,245.74 Unpaid Interest~~ - B-~~1 0.00 Remaining Unpaid Interest~~ - B-~~1 0.00 Interest Distribution~~ - B-~~2 28,382.90 Unpaid Interest~~ - B-~~2 0.00 Remaining Unpaid Interest~~ - B-~~2 0.00 Interest Distribution~~ - B-~~3 36,716.08 Unpaid Interest~~ - B-~~3 0.00 Remaining Unpaid Interest~~ - B-3 ~~0.00~~ ----------~~----------------------------------------------------------------------------------------------------------------~~ ~~[GRAPHIC~~Total ~~OMITTED]~~72 ~~COPYRIGHT 2005 J~~11,872,575.~~P.MORGAN~~61 ~~CHASE & CO~~9.46 ~~ALL~~% ~~RIGHTS~~========== ~~RESERVED.~~======= ~~--------------------------------------------------------------------------------------------------------------------------~~================= ==========

Delinquency by Group Group 3

~~Page~~Period 6Number ofPrincipal 11Balance Percentage ---------- ------- -----------------~~----------------------------------------------------------------------------------------~~ ~~POPULAR ABS MORTGAGE PASS~~-~~THROUGH TRUST 2005~~-~~2 JULY 25, 2005~~ --------~~------------------------------------------------------------------------------------------------------------------~~ ~~Interest Reductions Net Prepayment Interest Shortfalls~~ 0~~.00 Relief Act Reductions 230.82 Class AF~~-130 ~~Interest~~days ~~Reduction 39.17 Class AF-2 Interest Reduction 11.18 Class AF-3 Interest Reduction 20.86 Class AF-4 Interest Reduction 17.27 Class AF-~~5 ~~Interest Reduction 6.87 Class AV-1B Interest Reduction 9.53 Class AV-1A Interest Reduction 37.28 Class AF-6 Interest Reduction 7.16 Class AV-2 Interest Reduction 14.15 Class M-~~1 ~~Interest Reduction 22~~,943,684.1599 ~~Class M-2 Interest Reduction 17.36 Class M-3 Interest Reduction 3.08 Class M-~~4 ~~Interest Reduction 4~~.9694 ~~Class~~% M31-560 ~~Interest~~days Reduction 2.90 Class M-6 Interest Reduction 4.16 Class B-1 Interest Reduction 4.13 Class B-2 Interest Reduction 3.75 Class B-3 Interest Reduction 4.85 Sec. 4.03(a)(iii) Available Funds Shortfall Class AF-1 Available Funds Shortfall 0~~.00~~ ~~Class AF-2 Available Funds Shortfall~~ 0.00 ~~Class AF-3 Available Funds Shortfall~~ 0.00 ~~Class~~% AF61-490 ~~Available~~days ~~Funds Shortfall~~ 0~~.00~~ ~~Class AF-5 Available Funds Shortfall~~ 0.00 ~~Class AF-6 Available Funds Shortfall~~ 0.00 ~~Class~~% ~~AV-1A~~91+days ~~Available Funds Shortfall~~ 0~~.00~~ ~~Class AV-1B Available Funds Shortfall~~ 0.00 ~~Class AV-2 Available Funds Shortfall~~ 0.00 ~~Class~~% M-~~1 Available Funds Shortfall 0.00 Class M~~-~~2 Available Funds Shortfall 0.00 Class M~~-~~3 Available Funds Shortfall 0.00 Class M~~-~~4 Available Funds Shortfall 0.00 Class M~~-~~5 Available Funds Shortfall 0.00 Class M~~-~~6 Available Funds Shortfall 0.00 Class B~~-~~1 Available Funds Shortfall 0.00 Class B~~-~~2 Available Funds Shortfall 0.00 Class B~~-3- ~~Available Funds Shortfall 0.00 Sec. 4.03(a)(v) Pool Principal Balances~~ ------- ----------------- ----------~~----------------------------------------------------------------------------------------~~ ~~[GRAPHIC~~Total ~~OMITTED]~~5 ~~COPYRIGHT 2005 J~~1,943,684.~~P.MORGAN~~99 ~~CHASE & CO~~4.94 ~~ALL~~% ~~RIGHTS~~========== ~~RESERVED.~~======= ~~--------------------------------------------------------------------------------------------------------------------------~~================= ==========

Sec. 4.03 (a)(ix) B Group I,Group II-A, and Group II-B Loans in Foreclosure

~~Page~~Foreclosure 7by ofGroup 11 ----------------------------------------------------------~~----------------------------------------------------------------~~ ~~POPULAR~~Group ~~ABS~~Number ~~MORTGAGE~~of ~~PASS-THROUGH~~Principal ~~TRUST~~Balance ~~2005-2~~Percentage ~~JULY~~Number ~~25,~~Loans ~~2005~~ ------- --------- ----------------- ----------~~-------------------------------------------------------------------------------~~ ~~Group~~1 I3 ~~Beginning Pool Balance 339~~284,~~575,410~~709.2287 ~~Group I Ending Pool Balance 334,889,267~~0.04 Group II-A Beginning Pool Balance 130,765,676.81 Group II-A Ending Pool Balance 128,106,275.22 Group II-B Beginning Pool Balance 39,696,323.23 Group II-B Ending Pool Balance 39,601,265.83 Total Beginning Pool Balance 510,037,410.26 Total Ending Pool Balance 502,596,808.09% ~~Sec.~~2 ~~4.03(a)(vi)~~3 ~~Servicing Fee Group I Servicing Fee 141~~653,~~489~~285.7591 Group II-A Servicing Fee 54,485.70 Group II-B Servicing Fee 16,540.13 Sec. 4.03(a)(viii) Delinquency Advances Group I Delinquency Advances Included in Current Distribution 44,521.31 Group I Recouped Advances Included in Current Distribution 0.0052% ~~Group~~3 ~~I Recouped Advances From Liquidations~~ 0~~.00~~ ~~Group I Aggregate Amount of Advances Outstanding 1,724,318.63 Group II-A Delinquency Advances Included in Current Distribution 59,970.78 Group II-A Recouped Advances Included in Current Distribution~~ 0.00 ~~Group II-A Recouped Advances From Liquidations~~ 0.00 Group II-A Aggregate Amount of Advances Outstanding 887,403.03 Group II-B Delinquency Advances Included in Current Distribution 12,886.45 Group II-B Recouped Advances Included in Current Distribution 0.00 Group II-B Recouped Advances From Liquidations 0.00 Group II-B Aggregate Amount of Advances Outstanding 228,475.55 Section 4.03(a)(ix) A Group I,Group II-A, and Group II-B Loans Delinquent%

Sec. 4.03(a)(x),(xi) Group I,Group II-A, and Group II-B Loans in REO

~~-------------------------------------------------------------------------~~REO ~~Delinquency~~ by Group -------------------------------------------------------~~------------------~~ Group 1Number of Principal Balance Percentage Number Loans ------- --------- ----------------- ----------~~------------------------------~~ ~~Period~~1 ~~Number Principal Balance Percentage~~ 0~~-30~~ ~~days 124 18,195,438.47 5.43% 31-60 days 21 3,317,455.02~~ 0.~~99%~~00 ~~61-90 days 4 333,863.34~~ 0.1000% ~~91+days~~ 2 ~~289,768.66~~0 0.~~09%~~00 ~~Total 151 22,136,525~~0.~~49 6.61~~00% ~~-------------------------------------------------------------------------~~3 ~~--------------------------------------------------------------------------------------------------------------------------~~0 ~~[GRAPHIC OMITTED] COPYRIGHT 2005 J~~0.~~P.MORGAN~~00 ~~CHASE & CO~~0. ~~ALL RIGHTS RESERVED. --------------------------------------------------------------------------------------------------------------------------~~00%

Market Value of Group I REO Loans 0.00 Market Value of Group II-A REO Loans 0.00 Market Value of Group II-B REO Loans 0.00

[GRAPHIC OMITTED] COPYRIGHT 2005 J.P.MORGAN CHASE & CO. ALL RIGHTS RESERVED. Page 8 of 10 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 AUGUST 25, 2005 Sec. 4.03(a)(xii) Aggregate Stated Principal Balance of the Three Largest Loans Group I Three Largest Loans 2,056,284.11 Group II-A Three Largest Loans 1,205,085.52 Group II-B Three Largest Loans 2,231,778.92 Sec. 4.03(a)(xiii) Net WAC Cap Carryover Class AF-1 Net WAC Cap Carryover Amounts Due 0.00 Class AF-1 Net WAC Cap Carryover Amounts Paid 0.00 Class AF-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-1A Net WAC Cap Carryover Amounts Due 0.00 Class AV-1A Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1A Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-1B Net WAC Cap Carryover Amounts Due 0.00 Class AV-1B Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1B Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Paid 0.00 Class AV-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Due 1,383.31 Class B-1 Net WAC Cap Carryover Amounts Paid 1,383.31 Class B-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Due 1,256.57 Class B-2 Net WAC Cap Carryover Amounts Paid 1,256.57 Class B-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-3 Net WAC Cap Carryover Amounts Due 1,625.49 Class B-3 Net WAC Cap Carryover Amounts Paid 1,625.49 Class B-3 Net WAC Cap Carryover Remaining Amounts Due 0.00 Sec. 4.03(a)(xiv) Aggregate Principal Balance of Balloon Loans with Original Terms <= 36 Months and 60+ Contractually Past Due Group I Aggregate Principal Balance of Balloon Loans 0.00 Group II-A Aggregate Principal Balance of Balloon Loans 0.00 Group II-B Aggregate Principal Balance of Balloon Loans 0.00 Sec. 4.03 (a)(xv), Realized Losses (xxii) Group I Current Period Realized Losses 0.00 Group I Cumulative Realized Losses 0.00 Group II-A Current Period Realized Losses 0.00 Group II-A Cumulative Realized Losses 0.00 Group II-B Current Period Realized Losses 0.00 Group II-B Cumulative Realized Losses 0.00

[GRAPHIC OMITTED] COPYRIGHT 2005 J.P.MORGAN CHASE & CO. ALL RIGHTS RESERVED. Page 9 of 10 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 AUGUST 25, 2005 Sec. 4.03 (a)(xvi) Reserve Fund Beginning Balance of Reserve Fund 0.00 Funds Withdrawn From Reserve Fund For Distribution 0.00 Funds Deposited to Reserve Fund 0.00 Ending Balance of Reserve Fund 0.00 Sec. 4.03 (a)(xvii) Number of Loans Repurchased Group I Number of Loans Repurchased 0.00 Group II-A Number of Loans Repurchased 0.00 Group II-B Number of Loans Repurchased 0.00

[GRAPHIC OMITTED] COPYRIGHT 2005 J.P.MORGAN CHASE & CO. ALL RIGHTS RESERVED. Page 10 of 10 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 AUGUST 25, 2005 Sec. 4.03 (a)(xviii) Weighted Average Mortgage Rate of Outstanding Loans (as of first day of related Due Period) Group I Weighted Average Mortgage Rate 6.93% Group II-A Weighted Average Mortgage Rate 7.00% Group II-B Weighted Average Mortgage Rate 6.85% Sec. 4.03 (a)(xix) Weighted Average Remaining Term of Outstanding Loans Group I Weighted Average Remaining Term 333 Group II-A Weighted Average Remaining Term 352 Group II-B Weighted Average Remaining Term 353 Sec. 4.03 (a)(xxi), Overcollateralization Amounts (xxii),(xxiii) Overcollateralization Amount 5,000,915.18 Overcollateralization Target Amount 7,954,132.86 Overcollateralization Release Amount 0.00 Overcollateralization Deficiency Amount 2,953,217.68 Sec. 4.03 (a)(xxiv) Trigger Events Has a Trigger Event Occurred and is continuing? NO Cumulative Realized Losses as a percentage of the Original Pool Balance 0.00% Senior Enhancement Percentage 22.46% Senior Specified Enhancement Percentage 43.30% Sec. 4.03 (a)(xxv) 60+ Day Delinquent Loans 60+ Day Delinquent Loans as a percentage of the current Pool Balance 0.64% Sec. 4.03 (a)(xxvi) Amount of Funds Collected by Trustee under Yield Maintenance Agreement 0.00

Page 8 of 11 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 JULY 25, 2005 ------------------------------------------------------------------------- Delinquency by Group ------------------------------------------------------------------------- Group 2 ------------------------------------------------------------------------- Period Number Principal Balance Percentage 0-30 days 51 7,986,256.05 6.23% 31-60 days 8 1,794,614.89 1.40% 61-90 days 5 1,261,803.46 0.98% 91+days 0 0.00 0.00% Total 64 11,042,674.40 8.62% -------------------------------------------------------------------------

------------------------------------------------------------------------- Delinquency by Group ------------------------------------------------------------------------- Group 3 ------------------------------------------------------------------------- Period Number Principal Balance Percentage 0-30 days 9 3,019,384.04 7.62% 31-60 days 0 0.00 0.00% 61-90 days 0 0.00 0.00% 91+days 0 0.00 0.00% Total 9 3,019,384.04 7.62% -------------------------------------------------------------------------

------------------------------------------------------------------------- Foreclosure by Group ------------------------------------------------------------------------- Group Number of Principal Balance Percentage Number Loans ------------------------------------------------------------------------- 1 1 111,903.57 0.03% 2 1 206,206.04 0.16% 3 0 0.00 0.00% -------------------------------------------------------------------------

Sec. 4.03(a)(x),(xi) Group I,Group II-A, and Group II-B Loans in REO

------------------------------------------------------------------------- REO by Group ------------------------------------------------------------------------- Group Number of Principal Balance Percentage Number Loans ------------------------------------------------------------------------- 1 0 0.00 0.00% 2 0 0.00 0.00% 3 0 0.00 0.00% -------------------------------------------------------------------------

Market Value of Group I REO Loans 0.00 Market Value of Group II-A REO Loans 0.00 Market Value of Group II-B REO Loans 0.00 -------------------------------------------------------------------------------------------------------------------------- [GRAPHIC OMITTED] COPYRIGHT 2005 J.P.MORGAN CHASE & CO. ALL RIGHTS RESERVED. --------------------------------------------------------------------------------------------------------------------------

Page 9 of 11 -------------------------------------------------------------------------------------------------------------------------- POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 JULY 25, 2005 -------------------------------------------------------------------------------------------------------------------------- Sec. 4.03(a)(xii) Aggregate Stated Principal Balance of the Three Largest Loans Group I Three Largest Loans 2,058,874.80 Group II-A Three Largest Loans 1,205,773.89 Group II-B Three Largest Loans 2,234,590.34 Sec. 4.03(a)(xiii) Net WAC Cap Carryover Class AF-1 Net WAC Cap Carryover Amounts Due 0.00 Class AF-1 Net WAC Cap Carryover Amounts Paid 0.00 Class AF-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-1A Net WAC Cap Carryover Amounts Due 0.00 Class AV-1A Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1A Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-1B Net WAC Cap Carryover Amounts Due 0.00 Class AV-1B Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1B Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Paid 0.00 Class AV-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Paid 0.00 Class B-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Paid 0.00 Class B-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-3 Net WAC Cap Carryover Amounts Due 0.00 Class B-3 Net WAC Cap Carryover Amounts Paid 0.00 Class B-3 Net WAC Cap Carryover Remaining Amounts Due 0.00 Sec. 4.03(a)(xiv) Aggregate Principal Balance of Balloon Loans with Original Terms <= 36 Months and 60+ Contractually Past Due Group I Aggregate Principal Balance of Balloon Loans 0.00 Group II-A Aggregate Principal Balance of Balloon Loans 0.00 Group II-B Aggregate Principal Balance of Balloon Loans 0.00 Sec. 4.03 (a)(xv),(xxii) Realized Losses Group I Current Period Realized Losses 0.00 Group I Cumulative Realized Losses 0.00 Group II-A Current Period Realized Losses 0.00 Group II-A Cumulative Realized Losses 0.00 Group II-B Current Period Realized Losses 0.00 Group II-B Cumulative Realized Losses 0.00 -------------------------------------------------------------------------------------------------------------------------- [GRAPHIC OMITTED] COPYRIGHT 2005 J.P.MORGAN CHASE & CO. ALL RIGHTS RESERVED. --------------------------------------------------------------------------------------------------------------------------

Page 10 of 11 -------------------------------------------------------------------------------------------------------------------------- POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 JULY 25, 2005 -------------------------------------------------------------------------------------------------------------------------- Sec. 4.03 (a)(xvi) Reserve Fund Beginning Balance of Reserve Fund 0.00 Funds Withdrawn From Reserve Fund For Distribution 0.00 Funds Deposited to Reserve Fund 0.00 Ending Balance of Reserve Fund 0.00 Sec. 4.03 (a)(xvii) Number of Loans Repurchased Group I Number of Loans Repurchased 0.00 Group II-A Number of Loans Repurchased 0.00 Group II-B Number of Loans Repurchased 0.00 -------------------------------------------------------------------------------------------------------------------------- [GRAPHIC OMITTED] COPYRIGHT 2005 J.P.MORGAN CHASE & CO. ALL RIGHTS RESERVED.

Page 11 of 11 -------------------------------------------------------------------------------------------------------------------------- POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2 JULY 25, 2005 -------------------------------------------------------------------------------------------------------------------------- Sec. 4.03 (a)(xviii) Weighted Average Mortgage Rate of Outstanding Loans (as of first day of related Due Group I Weighted Average Mortgage Rate 6.94% Group II-A Weighted Average Mortgage Rate 7.00% Group II-B Weighted Average Mortgage Rate 6.85% Sec. 4.03 (a)(xix) Weighted Average Remaining Term of Outstanding Loans Group I Weighted Average Remaining Term 334 Group II-A Weighted Average Remaining Term 353 Group II-B Weighted Average Remaining Term 354 Sec. 4.03 Overcollateralization Amounts Overcollateralization Amount 4,155,475.38 Overcollateralization Target Amount 7,954,132.86 Overcollateralization Release Amount 0.00 Overcollateralization Deficiency Amount 3,798,657.48 Sec. 4.03 (a)(xxiv) Trigger Events Has a Trigger Event Occurred and is continuing? NO Cumulative Realized Losses as a percentage of the Original Pool Balance 0.00% Senior Enhancement Percentage 21.89% Senior Specified Enhancement Percentage 43.30% Sec. 4.03 (a)(xxv) 60+ Day Delinquent Loans 60+ Day Delinquent Loans as a percentage of the current Pool Balance 0.44% Sec. 4.03 (a)(xxvi) Amount of Funds Collected by Trustee under Yield Maintenance Agreement 0.00 -------------------------------------------------------------------------------------------------------------------------- [GRAPHIC OMITTED] COPYRIGHT 2005 J.P.MORGAN CHASE & CO. ALL RIGHTS RESERVED. --------------------------------------------------------------------------------------------------------------------------

Filing Compare · POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-2