
                                       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)

         Ameriquest Mortgage Securities Inc (as Depositor under the Pooling
         and Servicing Agreement, dated as April 1, 2005, providing for the
         issuance of Asset-Backed Pass-Through Certificates, Series 2005-R3)
                 (Exact name of registrant as specified in charter)

                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-121781-03                          33-0885129
          (Commission File Number)        (I.R.S. Employer Identification No.)


          1100 TOWN & COUNTRY ROAD, SUITE 1100
          ORANGE, CALIFORNIA                              92868
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (714) 541-9960

            (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 Ameriquest Mortgage
                                  Securities Inc., 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.



Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller
										1. Certificate Payment Report					2
				Ameriquest Mtg Sec Inc
										2. Collection Account Report					6

										3. Collateral Report					8
										4. Delinquency Report					11
				Certificate Insurer(s)						5. REO Report					15

										6. Foreclosure Report					16

										7. Prepayment Report					17
										8. Prepayment Detail Report					20
										9. Realized Loss Report					23

										10. Realized Loss Detail Report					26
										11. Triggers and Adj. Cert. Report					27
				Servicer(s)
										12. Additional Certificate Report					28
				Ameriquest Mortgage Corp



				Underwriter(s)
				J. P. Morgan
				BNP Paribas
				Deutsche Bank Securities
				Banc of America Securities LLC

										Total Number of Pages					28



				Dates						Contacts

				Cut-Off Date:			April 01, 2005			Valerie Delgado
				Close Date:			April 27, 2005			Administrator
				First Distribution Date:			May 25, 2005			(714) 247-6273
										valerie.m.delgado@db.com

										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				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
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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)

A-1A	FLT, STEP	$	414,398,000.00		414,398,000.00		1,044,282.96		5,251,393.02		6,295,675.98		0.00		0.00		409,146,606.98

A-1B	FLT, STEP	$	103,600,000.00		103,600,000.00		265,906.67		1,312,854.59		1,578,761.26		0.00		0.00		102,287,145.41
A-2A	FLT, STEP	$	419,185,000.00		419,185,000.00		1,062,866.86		5,065,985.84		6,128,852.70		0.00		0.00		414,119,014.16
A-2B	FLT, STEP	$	104,796,000.00		104,796,000.00		269,791.48		1,266,493.44		1,536,284.92		0.00		0.00		103,529,506.56
A-3A	FLT, STEP	$	292,740,000.00		292,740,000.00		712,659.27		9,885,166.19		10,597,825.46		0.00		0.00		282,854,833.81
A-3B	FLT, STEP	$	125,396,000.00		125,396,000.00		310,146.11		0.00		310,146.11		0.00		0.00		125,396,000.00
A-3C	FLT, STEP	$	158,909,000.00		158,909,000.00		400,450.68		0.00		400,450.68		0.00		0.00		158,909,000.00
A-3D	FLT, STEP	$	130,976,000.00		130,976,000.00		342,283.95		0.00		342,283.95		0.00		0.00		130,976,000.00
M-1	MEZ, FLT, S	$	53,000,000.00		53,000,000.00		143,453.33		0.00		143,453.33		0.00		0.00		53,000,000.00
M-2	MEZ, FLT, S	$	47,000,000.00		47,000,000.00		128,310.00		0.00		128,310.00		0.00		0.00		47,000,000.00
M-3	MEZ, FLT, S	$	27,000,000.00		27,000,000.00		74,550.00		0.00		74,550.00		0.00		0.00		27,000,000.00
M-4	MEZ, FLT, S	$	25,000,000.00		25,000,000.00		71,166.67		0.00		71,166.67		0.00		0.00		25,000,000.00
M-5	MEZ, FLT, S	$	19,000,000.00		19,000,000.00		54,530.00		0.00		54,530.00		0.00		0.00		19,000,000.00
M-6	MEZ, FLT, S	$	13,000,000.00		13,000,000.00		37,815.56		0.00		37,815.56		0.00		0.00		13,000,000.00
M-7	MEZ, FLT, S	$	10,000,000.00		10,000,000.00		33,911.11		0.00		33,911.11		0.00		0.00		10,000,000.00
M-8	MEZ, FLT, S	$	10,000,000.00		10,000,000.00		34,688.89		0.00		34,688.89		0.00		0.00		10,000,000.00
M-9	MEZ, FLT, S	$	13,000,000.00		13,000,000.00		50,454.44		0.00		50,454.44		0.00		0.00		13,000,000.00
M-10	MEZ, FLT, S	$	23,000,000.00		23,000,000.00		99,104.44		0.00		99,104.44		0.00		0.00		23,000,000.00
CE	SUB	$	9,999,910.51		9,999,910.51		3,961,471.72		0.00		3,961,471.72		0.00		89.54		10,000,000.05
P	EXE	$	100.00		100.00		201,994.88		0.00		201,994.88		0.00		0.00		100.00
R	R	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			2,000,000,010.51		2,000,000,010.51		9,299,839.02		22,781,893.08		32,081,732.10		0.00		89.54		1,977,218,206.97






Page 2 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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)
A-1A	04/27/05		05/24/05		A-Act/360		03072SA96		414,398,000.00		1,000.000000		2.520000		12.672342		15.192342	987.327658
A-1B	04/27/05		05/24/05		A-Act/360		03072SZS7		103,600,000.00		1,000.000000		2.566667		12.672342		15.239008	987.327658
A-2A	04/27/05		05/24/05		A-Act/360		03072SB20		419,185,000.00		1,000.000000		2.535556		12.085322		14.620878	987.914678
A-2B	04/27/05		05/24/05		A-Act/360		03072SB38		104,796,000.00		1,000.000000		2.574444		12.085322		14.659767	987.914678
A-3A	04/27/05		05/24/05		A-Act/360		03072SZT5		292,740,000.00		1,000.000000		2.434444		33.767733		36.202178	966.232267
A-3B	04/27/05		05/24/05		A-Act/360		03072SZU2		125,396,000.00		1,000.000000		2.473333		0.000000		2.473333	1,000.000000
A-3C	04/27/05		05/24/05		A-Act/360		03072SZV0		158,909,000.00		1,000.000000		2.520000		0.000000		2.520000	1,000.000000
A-3D	04/27/05		05/24/05		A-Act/360		03072SZW8		130,976,000.00		1,000.000000		2.613333		0.000000		2.613333	1,000.000000
M-1	04/27/05		05/24/05		A-Act/360		03072SZX6		53,000,000.00		1,000.000000		2.706667		0.000000		2.706667	1,000.000000
M-2	04/27/05		05/24/05		A-Act/360		03072SZY4		47,000,000.00		1,000.000000		2.730000		0.000000		2.730000	1,000.000000
M-3	04/27/05		05/24/05		A-Act/360		03072SZZ1		27,000,000.00		1,000.000000		2.761111		0.000000		2.761111	1,000.000000
M-4	04/27/05		05/24/05		A-Act/360		03072SA21		25,000,000.00		1,000.000000		2.846667		0.000000		2.846667	1,000.000000
M-5	04/27/05		05/24/05		A-Act/360		03072SA39		19,000,000.00		1,000.000000		2.870000		0.000000		2.870000	1,000.000000
M-6	04/27/05		05/24/05		A-Act/360		03072SA47		13,000,000.00		1,000.000000		2.908889		0.000000		2.908889	1,000.000000
M-7	04/27/05		05/24/05		A-Act/360		03072SA54		10,000,000.00		1,000.000000		3.391111		0.000000		3.391111	1,000.000000
M-8	04/27/05		05/24/05		A-Act/360		03072SA62		10,000,000.00		1,000.000000		3.468889		0.000000		3.468889	1,000.000000
M-9	04/27/05		05/24/05		A-Act/360		03072SA70		13,000,000.00		1,000.000000		3.881111		0.000000		3.881111	1,000.000000
M-10	04/27/05		05/24/05		A-Act/360		03072SA88		23,000,000.00		1,000.000000		4.308889		0.000000		4.308889	1,000.000000
CE	04/01/05		04/30/05		A-30/360				9,999,910.51		1,000.000000		396.150717		0.000000		396.150717	1,000.008954
P	04/01/05		04/30/05				100.00		1,000.000000		2,019,948.800000		0.000000		2,019,948.800000		1,000.000000
R	04/01/05		04/30/05				0.00		0.000000		0.000000		0.000000		0.000000		0.000000




Page 3 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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)
A-1A	414,398,000.00		1,044,282.96		4,874,405.56		376,987.46		5,251,393.02		6,295,675.98		0.00		0.00		409,146,606.98
A-1B	103,600,000.00		265,906.67		1,218,607.27		94,247.32		1,312,854.59		1,578,761.26		0.00		0.00		102,287,145.41
A-2A	419,185,000.00		1,062,866.86		4,702,308.40		363,677.44		5,065,985.84		6,128,852.70		0.00		0.00		414,119,014.16
A-2B	104,796,000.00		269,791.48		1,175,574.30		90,919.14		1,266,493.44		1,536,284.92		0.00		0.00		103,529,506.56
A-3A	292,740,000.00		712,659.27		9,175,529.01		709,637.18		9,885,166.19		10,597,825.46		0.00		0.00		282,854,833.81
A-3B	125,396,000.00		310,146.11		0.00		0.00		0.00		310,146.11		0.00		0.00		125,396,000.00
A-3C	158,909,000.00		400,450.68		0.00		0.00		0.00		400,450.68		0.00		0.00		158,909,000.00
A-3D	130,976,000.00		342,283.95		0.00		0.00		0.00		342,283.95		0.00		0.00		130,976,000.00
M-1	53,000,000.00		143,453.33		0.00		0.00		0.00		143,453.33		0.00		0.00		53,000,000.00
M-2	47,000,000.00		128,310.00		0.00		0.00		0.00		128,310.00		0.00		0.00		47,000,000.00
M-3	27,000,000.00		74,550.00		0.00		0.00		0.00		74,550.00		0.00		0.00		27,000,000.00
M-4	25,000,000.00		71,166.67		0.00		0.00		0.00		71,166.67		0.00		0.00		25,000,000.00
M-5	19,000,000.00		54,530.00		0.00		0.00		0.00		54,530.00		0.00		0.00		19,000,000.00
M-6	13,000,000.00		37,815.56		0.00		0.00		0.00		37,815.56		0.00		0.00		13,000,000.00
M-7	10,000,000.00		33,911.11		0.00		0.00		0.00		33,911.11		0.00		0.00		10,000,000.00
M-8	10,000,000.00		34,688.89		0.00		0.00		0.00		34,688.89		0.00		0.00		10,000,000.00
M-9	13,000,000.00		50,454.44		0.00		0.00		0.00		50,454.44		0.00		0.00		13,000,000.00
M-10	23,000,000.00		99,104.44		0.00		0.00		0.00		99,104.44		0.00		0.00		23,000,000.00
CE	9,999,910.51		3,961,471.72		-83.11		-6.43		0.00		3,961,471.72		0.00		89.54		10,000,000.05
P	100.00		201,994.88		0.00		0.00		0.00		201,994.88		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


Total	2,000,000,010.51		9,299,839.02		21,146,341.43		1,635,462.11		22,781,893.08		32,081,732.10		0.00		89.54		1,977,218,206.97



Page 4 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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)
A-1A	3.24000%		414,398,000.00		1,044,282.96		0.00		0.00		0.00		1,044,282.96		1,044,282.96		0.00
A-1B	3.30000%		103,600,000.00		265,906.67		0.00		0.00		0.00		265,906.67		265,906.67		0.00
A-2A	3.26000%		419,185,000.00		1,062,866.86		0.00		0.00		0.00		1,062,866.86		1,062,866.86		0.00
A-2B	3.31000%		104,796,000.00		269,791.48		0.00		0.00		0.00		269,791.48		269,791.48		0.00
A-3A	3.13000%		292,740,000.00		712,659.27		0.00		0.00		0.00		712,659.27		712,659.27		0.00
A-3B	3.18000%		125,396,000.00		310,146.11		0.00		0.00		0.00		310,146.11		310,146.11		0.00
A-3C	3.24000%		158,909,000.00		400,450.68		0.00		0.00		0.00		400,450.68		400,450.68		0.00
A-3D	3.36000%		130,976,000.00		342,283.95		0.00		0.00		0.00		342,283.95		342,283.95		0.00
M-1	3.48000%		53,000,000.00		143,453.33		0.00		0.00		0.00		143,453.33		143,453.33		0.00
M-2	3.51000%		47,000,000.00		128,310.00		0.00		0.00		0.00		128,310.00		128,310.00		0.00
M-3	3.55000%		27,000,000.00		74,550.00		0.00		0.00		0.00		74,550.00		74,550.00		0.00
M-4	3.66000%		25,000,000.00		71,166.67		0.00		0.00		0.00		71,166.67		71,166.67		0.00
M-5	3.69000%		19,000,000.00		54,530.00		0.00		0.00		0.00		54,530.00		54,530.00		0.00
M-6	3.74000%		13,000,000.00		37,815.56		0.00		0.00		0.00		37,815.56		37,815.56		0.00
M-7	4.36000%		10,000,000.00		33,911.11		0.00		0.00		0.00		33,911.11		33,911.11		0.00
M-8	4.46000%		10,000,000.00		34,688.89		0.00		0.00		0.00		34,688.89		34,688.89		0.00
M-9	4.99000%		13,000,000.00		50,454.44		0.00		0.00		0.00		50,454.44		50,454.44		0.00
M-10	5.54000%		23,000,000.00		99,104.44		0.00		0.00		0.00		99,104.44		99,104.44		0.00
CE	0.00000%		9,999,910.51		0.00		0.00		0.00		0.00		0.00		3,961,561.26		0.00
P	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		201,994.88		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			2,000,000,010.51		#######		0.00		0.00		0.00		5,136,372.42		9,299,928.56		0.00



Page 5 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution
Collection Account Report
SUMMARY

								Group 3		Group 2		Group 1		Total
Principal Collections								9,885,127.34		6,332,454.39		6,564,221.81		22,781,803.54
Principal Withdrawals								0.00		0.00		0.00		0.00
Principal Other Accounts								0.00		0.00		0.00		0.00
TOTAL NET PRINCIPAL								9,885,127.34		6,332,454.39		6,564,221.81		22,781,803.54
Interest Collections								4,979,476.36		3,746,632.97		3,699,525.76		12,425,635.09
Interest Withdrawals								-0.00		-0.00		-0.00		-0.00
Interest Fees								-714,079.47		-559,715.41		-546,573.20		-3,327,701.41
Interest Other Accounts								63,676.67		51,219.01		87,099.20		201,994.88
TOTAL NET INTEREST								4,329,073.56		3,238,136.57		3,240,051.76		9,299,928.56
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION								14,214,200.90		9,570,590.96		9,804,273.57		32,081,732.10



PRINCIPAL - COLLECTIONS

									Group 3		Group 2		Group 1		Total
Scheduled Principal Received									658,668.55		492,501.40		484,292.17		1,635,462.12
Curtailments									66,717.67		96,469.58		60,662.59		223,849.84
Prepayments In Full									7,567,140.06		4,042,138.86		4,638,063.66		16,247,342.58
Repurchased/Substitutions									1,592,601.06		1,701,344.55		1,381,203.39		4,675,149.00
Liquidations									0.00		0.00		0.00		0.00
Insurance Principal									0.00		0.00		0.00		0.00
Other Additional Principal									0.00		0.00		0.00		0.00
Delinquent Principal									-200,740.20		-116,668.75		-119,846.69		-437,255.64
Realized Losses									-0.00		-0.00		-0.00		-0.00
Advanced Principal									200,740.20		116,668.75		119,846.69		437,255.64
TOTAL PRINCIPAL COLLECTED									9,885,127.34		6,332,454.39		6,564,221.81		22,781,803.54


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS

								Group 3		Group 2		Group 1		Total
TOTAL PRINCIPAL OTHER ACCOUNTS								0.00		0.00		0.00		0.00





Page 6 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution

INTEREST - COLLECTIONS

								Group 3		Group 2		Group 1		Total
Scheduled Interest								5,078,392.04		3,800,140.48		3,756,516.09		12,635,048.61
Repurchased/Substitution Interest								10,295.35		10,579.78		8,980.65		29,855.78
Liquidation Interest								0.00		0.00		0.00		0.00
Insurance Interest								0.00		0.00		0.00		0.00
Other Additional Interest								0.00		0.00		0.00		0.00
Prepayment Interest Shortfalls								-4,193.30		-1,667.05		-1,550.67		-7,411.02
Delinquent Interest								-1,685,881.56		-1,028,255.50		-1,040,016.25		-3,754,153.31
Compensating Interest								4,193.30		1,667.05		1,550.67		7,411.01
Civil Relief Act Shortfalls								-0.00		-0.00		-0.00		-0.00
Interest Advanced								1,576,670.53		964,168.20		974,045.26		3,514,883.99
TOTAL INTEREST COLLECTED								4,979,476.36		3,746,632.97		3,699,525.76		12,425,635.09


INTEREST - WITHDRAWALS

								Group 3		Group 2		Group 1		Total
Non-Recoverable Advances								0.00		0.00		0.00		0.00
TOTAL INTEREST WITHDRAWALS								0.00		0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS

								Group 3		Group 2		Group 1		Total
Prepayment Charges								63,676.67		51,219.01		87,099.20		201,994.88
Net WAC Investment Income								0.00		0.00		0.00		0.00
TOTAL INTEREST OTHER ACCOUNTS								63,676.67		51,219.01		87,099.20		201,994.88



INTEREST - FEES

								Group 3		Group 2		Group 1		Total
Current Servicing Fees								227,942.02		185,427.30		180,694.72		594,064.03
Trustee Fees								708.02		523.98		518.00		1,750.00
PMI								485,429.43		373,764.13		365,360.48		1,224,554.04
SWAP INFLOW / (OUTFLOW)								0.00		0.00		0.00		1,507,333.33
TOTAL INTEREST FEES								714,079.47		559,715.41		546,573.20		3,327,701.41




Page 7 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution
Collateral Report


COLLATERAL



									Group 3		Group 2		Group 1		Total



Loan Count:


Original								3,789		3,838		3,684		11,311
Prior								3,789		3,838		3,684		11,311
Prefunding								0		0		0		0
Scheduled Paid Offs								-0		-0		-0		-0
Full Voluntary Prepayments								-28		-21		-25		-74
Repurchases								-10		-11		-10		-31
Liquidations								-0		-0		-0		-0
Current								3,751		3,806		3,649		11,206
Principal Balance:


Original								809,167,298.58		598,835,010.62		591,997,701.31		2,000,000,010.51
Prior								809,167,298.58		598,835,010.62		591,997,701.31		2,000,000,010.51
Prefunding								0.00		0.00		0.00		0.00
Scheduled Principal								-658,668.55		-492,501.40		-484,292.17		-1,635,462.12
Partial Prepayments								-66,717.67		-96,469.58		-60,662.59		-223,849.84
Full Voluntary Prepayments								-7,567,140.06		-4,042,138.86		-4,638,063.66		-16,247,342.58
Repurchases								-1,592,601.06		-1,701,344.55		-1,381,203.39		-4,675,149.00
Liquidations								-0.00		-0.00		-0.00		-0.00
Current								799,282,171.24		592,502,556.23		585,433,479.50		1,977,218,206.97





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 8 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution

CHARACTERISTICS

								Group 3		Group 2		Group 1		Total
Weighted Average Coupon Original								7.54655%		7.63627%		7.63279%		7.59894%
Weighted Average Coupon Prior								7.54655%		7.63627%		7.63279%		7.59894%
Weighted Average Coupon Current								7.54655%		7.63627%		7.63279%		7.59894%
Weighted Average Months to Maturity Original								353		351		351		352
Weighted Average Months to Maturity Prior								353		351		351		352
Weighted Average Months to Maturity Current								353		351		351		352
Weighted Avg Remaining Amortization Term Original								353		351		351		352
Weighted Avg Remaining Amortization Term Prior								353		351		351		352
Weighted Avg Remaining Amortization Term Current								353		351		351		352
Weighted Average Seasoning Original								2.33		2.26		2.28		2.29
Weighted Average Seasoning Prior								2.33		2.26		2.28		2.29
Weighted Average Seasoning Current								2.33		2.26		2.28		2.29









Page 9 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution

ARM CHARACTERISTICS

								Group 3		Group 2		Group 1		Total
Weighted Average Margin Original								5.86353%		5.79995%		5.82460%		5.83293%
Weighted Average Margin Prior								5.86353%		5.79995%		5.82460%		5.83293%
Weighted Average Margin Current								5.86353%		5.79995%		5.82460%		5.83293%
Weighted Average Max Rate Original								13.75446%		13.82124%		13.82268%		13.79470%
Weighted Average Max Rate Prior								13.75446%		13.82124%		13.82268%		13.79470%
Weighted Average Max Rate Current								13.75446%		13.82124%		13.82268%		13.79470%
Weighted Average Min Rate Original								7.75446%		7.82124%		7.82268%		7.79470%
Weighted Average Min Rate Prior								7.75446%		7.82124%		7.82268%		7.79470%
Weighted Average Min Rate Current								7.75446%		7.82124%		7.82268%		7.79470%
Weighted Average Cap Up Original								1.00000%		1.00000%		1.00000%		1.00000%
Weighted Average Cap Up Prior								1.00000%		1.00000%		1.00000%		1.00000%
Weighted Average Cap Up Current								1.00000%		1.00000%		1.00000%		1.00000%
Weighted Average Cap Down Original								1.00000%		1.00000%		1.00000%		1.00000%
Weighted Average Cap Down Prior								1.00000%		1.00000%		1.00000%		1.00000%
Weighted Average Cap Down Current								1.00000%		1.00000%		1.00000%		1.00000%




SERVICING FEES & ADVANCES

									Group 3		Group 2		Group 1		Total




Current Servicing Fees								227,942.02		185,427.30		180,694.72		594,064.03
Delinquent Servicing Fees								109,211.02		64,087.29		65,970.99		239,269.30
TOTAL SERVICING FEES								337,153.04		249,514.60		246,665.72		833,333.36


Total Servicing Fees								337,153.04		249,514.60		246,665.72		833,333.36
Compensating Interest								-4,193.30		-1,667.05		-1,550.67		-7,411.01
Delinquent Servicing Fees								-109,211.02		-64,087.29		-65,970.99		-239,269.30
COLLECTED SERVICING FEES								223,748.73		183,760.25		179,144.06		586,653.04


Total Advanced Interest								1,576,670.53		964,168.20		974,045.26		3,514,883.99
Total Advanced Principal								200,740.20		116,668.75		119,846.69		437,255.64
Aggregate Advances with respect to this Distribution								1,777,410.73		1,080,836.95		1,093,891.95		3,952,139.64





ADDITIONAL COLLATERAL INFORMATION
								Group 3		Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)								4,193.30		1,667.05		1,550.67		7,411.02
Compensating Interest								-4,193.30		-1,667.05		-1,550.67		-7,411.01
Net Prepayment Interest Shortfall (PPIS)								0.00		0.00		0.00		0.00


Ending Pool Stated Principal Balance								799,282,171.24		592,502,556.23		585,433,479.50		1,977,218,206.97
Weighted Average Net Mortgage Rate								6.420042%		6.488872%		6.567698%		5.579957%




Page 10 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	FORECLOSURE		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%
	BANKRUPTCY		Balance		799,287.76		0.00		0.00		0.00		799,287.76
			% Balance		0.04%		0.00%		0.00%		0.00%		0.04%
			# Loans		5		0		0		0		5
			% # Loans		0.04%		0.00%		0.00%		0.00%		0.04%
	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		799,287.76		0.00		0.00		0.00		799,287.76
			% Balance		0.04%		0.00%		0.00%		0.00%		0.04%
			# Loans		5		0		0		0		5
			% # Loans		0.04%		0.00%		0.00%		0.00%		0.04%









Page 11 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	FORECLOSURE		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%
	BANKRUPTCY		Balance		283,783.38		0.00		0.00		0.00		283,783.38
			% Balance		0.05%		0.00%		0.00%		0.00%		0.05%
			# Loans		2		0		0		0		2
			% # 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		283,783.38		0.00		0.00		0.00		283,783.38
			% Balance		0.05%		0.00%		0.00%		0.00%		0.05%
			# Loans		2		0		0		0		2
			% # Loans		0.05%		0.00%		0.00%		0.00%		0.05%










Page 12 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	FORECLOSURE		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%
	BANKRUPTCY		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%
	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		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%










Page 13 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution

	GROUP 3
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	FORECLOSURE		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%
	BANKRUPTCY		Balance		515,504.38		0.00		0.00		0.00		515,504.38
			% Balance		0.06%		0.00%		0.00%		0.00%		0.06%
			# Loans		3		0		0		0		3
			% # Loans		0.08%		0.00%		0.00%		0.00%		0.08%
	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		515,504.38		0.00		0.00		0.00		515,504.38
			% Balance		0.06%		0.00%		0.00%		0.00%		0.06%
			# Loans		3		0		0		0		3
			% # Loans		0.08%		0.00%		0.00%		0.00%		0.08%









Page 14 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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




TOTAL



Page 16 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


									Group 3		Group 2		Group 1		Total




Current


Number of Paid in Full Loans								28		21		25		74
Number of Repurchased Loans								10		11		10		31
Total Number of Loans Prepaid in Full								38		32		35		105
Curtailments Amount								66,717.67		96,469.58		60,662.59		223,849.84
Paid in Full Balance								7,567,140.06		4,042,138.86		4,638,063.66		16,247,342.58
Repurchased Loans Balance								1,592,601.06		1,701,344.55		1,381,203.39		4,675,149.00
Total Prepayment Amount								9,226,458.79		5,839,952.99		6,079,929.64		21,146,341.42

Cumulative


Number of Paid in Full Loans								28		21		25		74
Number of Repurchased Loans								10		11		10		31
Total Number of Loans Prepaid in Full								38		32		35		105
Paid in Full Balance								7,567,140.06		4,042,138.86		4,638,063.66		16,247,342.58
Repurchased Loans Balance								1,592,601.06		1,701,344.55		1,381,203.39		4,675,149.00
Curtailments Amount								66,717.67		96,469.58		60,662.59		223,849.84
Total Prepayment Amount								9,226,458.79		5,839,952.99		6,079,929.64		21,146,341.42










Page 17 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


									Group 3		Group 2		Group 1		Total



SMM								1.14%		0.98%		1.03%		1.06%
3 Months Avg SMM								1.14%		0.98%		1.03%		1.06%
12 Months Avg SMM								1.14%		0.98%		1.03%		1.06%
Avg SMM Since Cut-off								1.14%		0.98%		1.03%		1.06%


CPR								12.87%		11.10%		11.66%		11.98%
3 Months Avg CPR								12.87%		11.10%		11.66%		11.98%
12 Months Avg CPR								12.87%		11.10%		11.66%		11.98%
Avg CPR Since Cut-off								12.87%		11.10%		11.66%		11.98%


PSA								2,763.24%		2,458.33%		2,555.14%		2,612.75%
3 Months Avg PSA Approximation								2,763.24%		2,458.33%		2,555.14%		2,612.74%
12 Months Avg PSA Approximation								2,763.24%		2,458.33%		2,555.14%		2,612.74%
Avg PSA Since Cut-off Approximation								2,763.24%		2,458.33%		2,555.14%		2,612.74%










Page 18 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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

92114180 1			86,400.00		86,123.12			27-Apr-2005		9.200%		OK - 79.85%		Paid Off - 360		01-Nov-2004


92338201 3			239,000.00		236,967.14			25-Apr-2005		7.100%		RI - 77.10%		Paid Off - 360		01-Nov-2004

93731347 1			345,000.00		343,485.31			04-May-2005		7.650%		CA - 75.00%		Paid Off - 360		01-Nov-2004

94684263 1			106,500.00		106,024.98			09-May-2005		7.400%		CA - 29.01%		Paid Off - 360		01-Dec-2004

95372280 2			134,000.00		133,362.20			26-Apr-2005		6.400%		CA - 87.98%		Paid Off - 360		01-Dec-2004

97922140 3			440,000.00		438,268.00			02-May-2005		6.100%		CA - 74.58%		Paid Off - 360		01-Jan-2005

98061500 2			342,000.00		341,187.74			29-Apr-2005		8.650%		CA - 90.00%		Paid Off - 360		01-Jan-2005

98225402 3			400,500.00		399,667.50			06-May-2005		10.400%		CA - 90.00%		Paid Off - 360		01-Dec-2004

99526162 3			100,000.00		99,847.34			29-Apr-2005		10.750%		WI - 84.03%		Paid Off - 360		01-Jan-2005

99724700 1			272,000.00		271,261.13			27-Apr-2005		7.990%		NY - 75.56%		Paid Off - 360		01-Jan-2005

99779126 2			160,500.00		160,168.10			02-May-2005		7.900%		MN - 75.00%		Paid Off - 360		01-Feb-2005

99800682 1			119,000.00		118,605.10			05-May-2005		6.990%		CA - 40.20%		Paid Off - 360		01-Jan-2005

100261866 2			122,500.00		122,040.33			27-Apr-2005		6.350%		CA - 34.61%		Paid Off - 360		01-Jan-2005

100324920 2			300,000.00		298,927.28			02-May-2005		6.600%		FL - 75.00%		Paid Off - 360		01-Jan-2005

100351501 1			200,000.00		199,484.55			05-May-2005		8.250%		CA - 43.01%		Paid Off - 360		01-Jan-2005

100359389 2			233,500.00		232,442.24			02-May-2005		7.600%		CA - 89.43%		Paid Off - 300		01-Jan-2005

100608629 3			241,312.00		240,559.62			03-May-2005		7.300%		CA - 82.50%		Paid Off - 360		01-Jan-2005

100761766 1			195,000.00		194,573.55			09-May-2005		9.050%		MD - 75.00%		Paid Off - 360		01-Jan-2005

100956226 1			170,500.00		169,884.40			04-May-2005		6.550%		MA - 63.63%		Paid Off - 360		01-Jan-2005

101188886 2			131,250.00		131,127.07			06-May-2005		11.650%		CT - 75.00%		Paid Off - 360		01-Feb-2005

101782209 3			178,000.00		177,594.29			05-May-2005		8.850%		AZ - 57.42%		Paid Off - 360		01-Jan-2005

102487907 1			211,500.00		211,006.91			30-Apr-2005		7.300%		CT - 90.00%		Paid Off - 360		01-Feb-2005

102806445 1			251,000.00		250,437.66			27-Apr-2005		7.500%		CA - 29.53%		Paid Off - 360		01-Feb-2005

102840766 2			97,500.00		97,272.68			05-May-2005		7.300%		MI - 81.25%		Paid Off - 360		01-Feb-2005

102873320 3			423,750.00		423,013.24			30-Apr-2005		8.750%		CA - 75.00%		Paid Off - 360		01-Feb-2005

103163622 3			387,000.00		386,061.41			06-May-2005		7.100%		CA - 77.40%		Paid Off - 360		01-Feb-2005

103383881 1			328,500.00		327,928.83			10-May-2005		8.750%		CA - 90.00%		Paid Off - 360		01-Feb-2005

104066980 1			255,000.00		254,847.10			06-May-2005		8.550%		FL - 82.26%		Paid Off - 360		01-Apr-2005

104955422 1			93,750.00		93,722.26			26-Apr-2005		11.850%		AZ - 75.00%		Paid Off - 360		01-Apr-2005

105082622 3			182,750.00		182,660.10			29-Apr-2005		9.500%		WI - 85.00%		Paid Off - 360		01-Apr-2005

105132609 3			600,000.00		598,031.84			10-May-2005		6.550%		GA - 50.72%		Paid Off - 180		01-Apr-2005

106133325 2			337,500.00		337,321.33			26-Apr-2005		9.150%		FL - 90.00%		Paid Off - 360		01-Apr-2005

106566904 1			75,000.00		74,956.85			03-May-2005		8.750%		PA - 75.00%		Paid Off - 360		01-Apr-2005

106778483 1			97,500.00		97,459.54			03-May-2005		10.300%		GA - 75.00%		Paid Off - 360		01-Apr-2005

106933443 1			115,600.00		115,509.82			05-May-2005		7.250%		TN - 85.00%		Paid Off - 360		01-Apr-2005

107101222 3			448,000.00		447,806.00			30-Apr-2005		10.100%		CA - 73.44%		Paid Off - 360		01-Apr-2005

107514424 2			320,000.00		319,710.71			25-Apr-2005		6.500%		CA - 78.05%		Paid Off - 360		01-Apr-2005




Page 20 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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

107687725 3			431,300.00		431,076.40			19-Apr-2005		9.250%		CT - 69.01%		Paid Off - 360		01-Apr-2005


107944183 2			121,500.00		121,426.40			10-May-2005		8.500%		MD - 90.00%		Paid Off - 360		01-Apr-2005

107956120 3			434,143.00		433,800.94			22-Apr-2005		7.200%		GA - 69.46%		Paid Off - 360		01-Apr-2005

108077520 2			217,000.00		216,892.13			02-May-2005		9.450%		NJ - 62.00%		Paid Off - 360		01-Apr-2005

108349945 3			243,215.00		243,114.10			02-May-2005		10.300%		IL - 70.50%		Paid Off - 360		01-Apr-2005

108401183 2			320,000.00		319,783.09			04-May-2005		7.950%		NY - 80.00%		Paid Off - 360		01-Apr-2005

108570383 2			116,450.00		116,395.67			28-Apr-2005		9.750%		ME - 85.00%		Paid Off - 360		01-Apr-2005

108710724 1			265,344.00		265,179.91			02-May-2005		8.400%		CA - 89.95%		Paid Off - 360		01-Apr-2005

108718925 2			116,800.00		116,720.83			29-Apr-2005		7.950%		FL - 80.00%		Paid Off - 360		01-Apr-2005

108943804 3			136,000.00		135,900.07			10-May-2005		7.550%		AZ - 80.00%		Paid Off - 360		01-Apr-2005

109014068 3			399,500.00		399,321.37			29-Apr-2005		9.950%		AZ - 85.00%		Paid Off - 360		01-Apr-2005

109018184 2			117,000.00		116,943.05			29-Apr-2005		9.550%		CA - 78.00%		Paid Off - 360		01-Apr-2005

109036020 1			131,500.00		131,427.41			20-Apr-2005		8.950%		AR - 77.35%		Paid Off - 360		01-Apr-2005

109046607 2			333,000.00		332,693.06			26-Apr-2005		6.400%		NY - 90.00%		Paid Off - 360		01-Apr-2005

109106963 3			268,600.00		268,516.03			03-May-2005		11.600%		MD - 85.00%		Paid Off - 360		01-Apr-2005

109290064 3			229,000.00		228,784.80			02-May-2005		6.300%		MD - 81.79%		Paid Off - 360		01-Apr-2005

109480764 3			162,244.00		162,244.00			22-Apr-2005		7.950%		CO - 80.00%		Paid Off - 360		01-May-2005

109588988 3			110,700.00		110,624.96			05-May-2005		7.950%		OK - 90.00%		Paid Off - 360		01-Apr-2005

109670166 1			90,000.00		89,881.67			28-Apr-2005		6.600%		NJ - 51.43%		Paid Off - 300		01-Apr-2005

109695049 1			130,500.00		130,435.13			03-May-2005		9.450%		NC - 83.65%		Paid Off - 360		01-Apr-2005

109751487 3			149,999.00		149,926.75			02-May-2005		9.600%		NJ - 73.17%		Paid Off - 360		01-Apr-2005

109783084 3			77,000.00		76,954.30			06-May-2005		8.600%		PA - 58.78%		Paid Off - 360		01-Apr-2005

109926725 3			278,000.00		277,789.51			26-Apr-2005		7.400%		CA - 77.22%		Paid Off - 360		01-Apr-2005

109927269 2			71,631.00		71,400.05			30-Apr-2005		6.750%		TX - 79.59%		Paid Off - 180		01-Apr-2005

110473345 2			87,500.00		87,427.56			04-May-2005		6.950%		MI - 87.50%		Paid Off - 360		01-Apr-2005

110521986 1			183,500.00		183,316.97			21-Apr-2005		5.990%		CA - 50.27%		Paid Off - 360		01-Apr-2005

110553005 3			134,100.00		134,100.00			06-May-2005		8.050%		CA - 90.00%		Paid Off - 360		01-May-2005

110684289 1			348,000.00		347,728.52			05-May-2005		7.250%		CA - 68.10%		Paid Off - 360		01-Apr-2005

110700309 3			430,800.00		430,510.35			22-Apr-2005		7.990%		CA - 74.88%		Paid Off - 360		01-Apr-2005

110748522 3			125,000.00		125,000.00			10-May-2005		10.300%		IL - 64.97%		Paid Off - 360		01-May-2005

110857547 2			129,000.00		128,897.34			30-Apr-2005		7.150%		WI - 81.85%		Paid Off - 360		01-Apr-2005

110865508 3			269,000.00		#######			04-May-2005		6.900%		MD - 73.70%		Paid Off - 360		01-May-2005

110905486 1			223,999.00		223,942.94			29-Apr-2005		12.600%		NJ - 80.00%		Paid Off - 360		01-Apr-2005

111148284 1			138,600.00		138,600.00			03-May-2005		6.950%		DE - 90.00%		Paid Off - 360		01-May-2005

111214565 1			212,240.00		212,240.00			30-Apr-2005		7.990%		WI - 94.33%		Paid Off - 360		01-May-2005

111343984 3			60,000.00		60,000.00			06-May-2005		9.550%		MN - 26.09%		Paid Off - 120		01-May-2005

111558144 2			240,000.00		240,000.00			29-Apr-2005		7.500%		IL - 84.21%		Paid Off - 360		01-May-2005

97035489 1			90,000.00		88,728.81			07-May-2005		6.990%		NE - 90.00%		Repur/Subs - 360		01-Jan-2005




Page 21 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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

101332104 1			116,250.00		114,034.67			07-May-2005		7.500%		MO - 75.00%		Repur/Subs - 180		01-Feb-2005


103827002 3			206,000.00		204,619.67			07-May-2005		8.550%		CT - 76.30%		Repur/Subs - 360		01-Feb-2005

103962320 3			256,750.00		254,423.52			07-May-2005		6.750%		CA - 84.18%		Repur/Subs - 360		01-Feb-2005

105729248 2			60,009.00		59,888.90			07-May-2005		9.600%		AZ - 37.81%		Repur/Subs - 360		01-Mar-2005

106311889 3			172,000.00		171,702.99			03-May-2005		6.750%		CT - 70.65%		Repur/Subs - 360		01-Mar-2005

107799686 3			193,450.00		192,341.82			07-May-2005		7.150%		CA - 71.65%		Repur/Subs - 360		01-Apr-2005

107988149 1			191,250.00		190,302.95			07-May-2005		9.700%		WI - 90.00%		Repur/Subs - 360		01-Apr-2005

107992083 1			100,000.00		98,632.55			07-May-2005		7.550%		TX - 74.07%		Repur/Subs - 120		01-Apr-2005

108762386 2			266,500.00		263,998.39			07-May-2005		6.350%		NY - 70.13%		Repur/Subs - 360		01-Apr-2005

108763723 3			250,000.00		247,822.71			07-May-2005		7.750%		NY - 71.43%		Repur/Subs - 360		01-Apr-2005

108829201 1			151,300.00		150,662.78			07-May-2005		7.250%		FL - 85.00%		Repur/Subs - 360		01-Apr-2005

108862848 3			150,000.00		148,624.28			07-May-2005		8.600%		MN - 75.00%		Repur/Subs - 360		01-Apr-2005

108895244 2			170,000.00		168,365.84			07-May-2005		9.900%		CO - 85.00%		Repur/Subs - 360		01-Apr-2005

109034629 1			274,500.00		272,573.98			07-May-2005		5.990%		CA - 90.00%		Repur/Subs - 360		01-Apr-2005

109053520 2			164,700.00		163,900.40			07-May-2005		6.600%		CT - 90.00%		Repur/Subs - 360		01-Apr-2005

109134387 2			60,195.00		59,639.43			07-May-2005		6.900%		ME - 45.26%		Repur/Subs - 240		01-Apr-2005

109422246 2			122,400.00		122,400.00			05-May-2005		7.150%		ID - 90.00%		Repur/Subs - 360		01-May-2005

109660845 3			121,800.00		120,704.21			07-May-2005		7.550%		WA - 87.00%		Repur/Subs - 360		01-Apr-2005

109708826 2			269,000.00		267,894.48			07-May-2005		6.550%		WI - 86.77%		Repur/Subs - 360		01-Apr-2005

109731141 3			60,000.00		59,982.44			05-May-2005		11.900%		CA - 34.68%		Repur/Subs - 360		01-Apr-2005

109804229 1			77,500.00		77,500.00			03-May-2005		7.750%		AL - 78.28%		Repur/Subs - 360		01-May-2005

110116886 2			82,800.00		81,826.96			07-May-2005		9.500%		IN - 90.00%		Repur/Subs - 240		01-Apr-2005

110200581 2			180,000.00		179,865.07			05-May-2005		7.450%		GA - 90.00%		Repur/Subs - 360		01-Apr-2005

110261542 2			81,000.00		80,271.08			07-May-2005		9.550%		NY - 90.00%		Repur/Subs - 360		01-Apr-2005

110994886 3			127,050.00		126,665.42			07-May-2005		7.950%		FL - 73.44%		Repur/Subs - 360		01-Apr-2005

111229886 1			76,800.00		74,047.65			07-May-2005		10.650%		TX - 80.00%		Repur/Subs - 360		01-May-2005

111260147 2			253,294.00		253,294.00			10-May-2005		6.990%		MD - 89.53%		Repur/Subs - 360		01-May-2005

111374468 1			108,500.00		108,500.00			05-May-2005		8.250%		WI - 79.78%		Repur/Subs - 360		01-May-2005

112399407 3			65,714.00		65,714.00			03-May-2005		7.950%		CA - 34.50%		Repur/Subs - 180		01-May-2005

113011167 1			206,220.00		206,220.00			02-May-2005		8.250%		IN - 74.99%		Repur/Subs - 360		01-May-2005



TOTAL			20,978,459.00		20,922,491.58



Page 22 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



									Group 3		Group 2		Group 1		Total


Current




Number of Loans Liquidated								0		0		0		0
Collateral Principal Realized Loss/(Gain) Amount								0.00		0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount								0.00		0.00		0.00		0.00
Net Liquidation Proceeds								0.00		0.00		0.00		0.00

Cumulative




Number of Loans Liquidated								0		0		0		0
Collateral Realized Loss/(Gain) Amount								0.00		0.00		0.00		0.00
Net Liquidation Proceeds								0.00		0.00		0.00		0.00










Page 23 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution


DEFAULT SPEEDS



									Group 3		Group 2		Group 1		Total



MDR								0.00%		0.00%		0.00%		0.00%
3 Months Avg MDR								0.00%		0.00%		0.00%		0.00%
12 Months Avg MDR								0.00%		0.00%		0.00%		0.00%
Avg MDR Since Cut-off								0.00%		0.00%		0.00%		0.00%


CDR								0.00%		0.00%		0.00%		0.00%
3 Months Avg CDR								0.00%		0.00%		0.00%		0.00%
12 Months Avg CDR								0.00%		0.00%		0.00%		0.00%
Avg CDR Since Cut-off								0.00%		0.00%		0.00%		0.00%


SDA								0.00%		0.00%		0.00%		0.00%
3 Months Avg SDA Approximation								0.00%		0.00%		0.00%		0.00%
12 Months Avg SDA Approximation								0.00%		0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation								0.00%		0.00%		0.00%		0.00%


Loss Severity Approximation for Current Period								0.00%		0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation								0.00%		0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation								0.00%		0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off								0.00%		0.00%		0.00%		0.00%












Page 24 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

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
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS

								Group 3		Group 2		Group 1		Total
						Does a Trigger Event Exist? (0=No,1=Yes)								0
						Has a Stepdown Date Occurred? (0=No,1=Yes)								0
						Balances 60+ days includes REO, BKC and FCL								0.00
						Delinquency Percentage						0.0000%		0.0000%
						Balance of Mezzanine and C Class								249,999,910.51
						Ending Pool Balance								1,977,218,206.97
						Credit Enhancement Percentage						12.6400%		12.6400%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

								Group 3		Group 2		Group 1		Total
Current LIBOR Rate														3.040000%
Next LIBOR Rate														3.090000%




Page 27 of 28
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

May 25, 2005 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT


CLASS







Page 28 of 28

Filing Compare · Ameriquest Mortgage Securities Inc. Series 2005-R3