
                                     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)

                Citigroup Mortgage Loan Trust Inc (as Depositor under
              the Pooling and Servicing Agreement, dated as February 1, 2005,
                providing for the issuance of Carrington Mortgage Loan Trust
                  Series 2005-NC1 Asset Backed Pass- through Certificates,
                                   Series 2005-NC1)
                 (Exact name of registrant as specified in charter)

                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-117349-09                         01-0791848
          (Commission File Number)        (I.R.S. Employer Identification No.)


           390 Greenwich Street
           NEW YORK, NEW YORK                                  10013
          (Address of principal executive offices)           (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (212) 816-6000


(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 Citigroup Mortgage Loan Trust
                                  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.



Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				Citigroup Mrtg. Loan Trust						1. Certificate Payment Report					2
				Citigroup Mrtg. Loan Trust						2. Collection Account Report					4
										2. Collection Account Report					4
										3. Credit Enhancement Report					6
										4. Collateral Report					7
				Certificate Insurer(s)						5. Delinquency Report					10
				Certificate Insurer(s)						5. Delinquency Report					10
										6. REO Report					11

										7. Foreclosure Report					12
										8. Prepayment Report					13
										9. Prepayment Detail Report					16
										9. Prepayment Detail Report					16
										10. Realized Loss Report					18
										11. Realized Loss Detail Report					21
				Servicer(s)						11. Realized Loss Detail Report					21
				Servicer(s)						12. Triggers and Adj. Cert. Report					22
				New Century Mortgage Corporation						12. Triggers and Adj. Cert. Report					22
				New Century Mortgage Corporation						13. Additional Certificate Report					23
										13. Additional Certificate Report					23


				Underwriter(s)
				Citigroup


										Total Number of Pages					23
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			February 01, 2005			Brent Hoyler
				Close Date:			February 03, 2005			Administrator
				First Distribution Date:			March 25, 2005			(714) 247-6322
										Brent.Hoyler@db.com
										Brent.Hoyler@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			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							May 24, 2005
							May 24, 2005

										https://www.tss.db.com/invr






Page 1 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution -
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
	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, SR	$	338,891,000.00		320,238,658.59		840,626.48		12,616,190.58		13,456,817.06		0.00		0.00		307,622,468.01
A-1A	FLT, SR	$	338,891,000.00		320,238,658.59		840,626.48		12,616,190.58		13,456,817.06		0.00		0.00		307,622,468.01
A-1B	FLT, SR	$	154,353,000.00		154,353,000.00		421,898.20		0.00		421,898.20		0.00		0.00		154,353,000.00
A-1C1	FLT, SR	$	84,940,000.00		84,940,000.00		240,663.33		0.00		240,663.33		0.00		0.00		84,940,000.00
A-1C2	FLT, SR	$	20,000,000.00		20,000,000.00		56,666.67		0.00		56,666.67		0.00		0.00		20,000,000.00
A-2	FLT, SR	$	136,857,000.00		132,589,578.13		364,621.34		2,886,426.24		3,251,047.58		0.00		0.00		129,703,151.89
A-3	FLT, SR	$	81,671,900.00		79,125,238.49		222,869.42		1,722,527.28		1,945,396.70		0.00		0.00		77,402,711.21
M-1	MEZ, FLT	$	35,532,000.00		35,532,000.00		103,931.10		0.00		103,931.10		0.00		0.00		35,532,000.00
M-2	MEZ, FLT	$	32,443,000.00		32,443,000.00		95,706.85		0.00		95,706.85		0.00		0.00		32,443,000.00
M-3	MEZ, FLT	$	20,599,000.00		20,599,000.00		61,282.03		0.00		61,282.03		0.00		0.00		20,599,000.00
M-4	MEZ, FLT	$	27,808,000.00		27,808,000.00		88,058.67		0.00		88,058.67		0.00		0.00		27,808,000.00
M-5	MEZ, FLT	$	16,994,000.00		16,994,000.00		54,380.80		0.00		54,380.80		0.00		0.00		16,994,000.00
M-6	MEZ, FLT	$	15,964,000.00		15,964,000.00		58,401.63		0.00		58,401.63		0.00		0.00		15,964,000.00
M-7	MEZ, FLT	$	12,874,000.00		12,874,000.00		47,955.65		0.00		47,955.65		0.00		0.00		12,874,000.00
M-8	MEZ, FLT	$	10,300,000.00		10,300,000.00		45,234.17		0.00		45,234.17		0.00		0.00		10,300,000.00
M-9	MEZ, FLT	$	10,300,000.00		10,300,000.00		45,234.17		0.00		45,234.17		0.00		0.00		10,300,000.00
CE	EXE	$	30,382,316.00		30,382,324.82		2,609,771.23		0.00		2,609,771.23		0.00		0.00		30,382,324.82
P	SUB	$	100.00		100.00		226,594.52		0.00		226,594.52		0.00		0.00		100.00
R	RES	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			1,029,909,316.00		1,004,442,900.03		5,583,896.26		17,225,144.10		22,809,040.36		0.00		0.00		987,217,755.93
Total




Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
									Orig. Principal		Prior							Current
									Orig. Principal		Prior							Current
	Period		Period						(with Notional)		Principal						Total	Principal
	Period		Period
Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1A	04/25/05		05/24/05		A-Act/360		144531AW0		338,891,000.00		944.960647		2.480522		37.227871		39.708393	907.732775
A-1B	04/25/05		05/24/05		A-Act/360		144531AX8		154,353,000.00		1,000.000000		2.733333		0.000000		2.733333	1,000.000000
A-1C1	04/25/05		05/24/05		A-Act/360		144531AY6		84,940,000.00		1,000.000000		2.833333		0.000000		2.833333	1,000.000000
A-1C2	04/25/05		05/24/05		A-Act/360		144531BJ8		20,000,000.00		1,000.000000		2.833334		0.000000		2.833334	1,000.000000
A-2	04/25/05		05/24/05		A-Act/360		144531AZ3		136,857,000.00		968.818388		2.664251		21.090819		23.755070	947.727569
A-3	04/25/05		05/24/05		A-Act/360		144531BA7		81,671,900.00		968.818388		2.728838		21.090819		23.819658	947.727569
M-1	04/25/05		05/24/05		A-Act/360		144531BB5		35,532,000.00		1,000.000000		2.925000		0.000000		2.925000	1,000.000000
M-2	04/25/05		05/24/05		A-Act/360		144531BC3		32,443,000.00		1,000.000000		2.950000		0.000000		2.950000	1,000.000000
M-3	04/25/05		05/24/05		A-Act/360		144531BD1		20,599,000.00		1,000.000000		2.975000		0.000000		2.975000	1,000.000000
M-4	04/25/05		05/24/05		A-Act/360		144531BE9		27,808,000.00		1,000.000000		3.166667		0.000000		3.166667	1,000.000000
M-5	04/25/05		05/24/05		A-Act/360		144531BF6		16,994,000.00		1,000.000000		3.200000		0.000000		3.200000	1,000.000000
M-6	04/25/05		05/24/05		A-Act/360		144531BG4		15,964,000.00		1,000.000000		3.658333		0.000000		3.658333	1,000.000000
M-7	04/25/05		05/24/05		A-Act/360		144531BH2		12,874,000.00		1,000.000000		3.725000		0.000000		3.725000	1,000.000000
M-8	04/25/05		05/24/05		A-Act/360		144531BK5		10,300,000.00		1,000.000000		4.391667		0.000000		4.391667	1,000.000000
M-9	04/25/05		05/24/05		A-Act/360		144531BL3		10,300,000.00		1,000.000000		4.391667		0.000000		4.391667	1,000.000000
CE	04/25/05		05/24/05		A-30/360				30,382,316.00		1,000.000290		85.897705		0.000000		85.897705	1,000.000290
P	04/25/05		05/24/05		A-30/360				100.00		1,000.000000		2,265,945.200000		0.000000		2,265,945.200000	1,000.000000
R	04/25/05		05/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution

Distribution to Date -
																	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	338,891,000.00		2,973,564.80		30,248,681.49		1,019,850.50		31,268,531.99		34,242,096.79		0.00		0.00		307,622,468.01
A-1B	154,353,000.00		1,446,244.74		0.00		0.00		0.00		1,446,244.74		0.00		0.00		154,353,000.00
A-1C1	84,940,000.00		827,292.00		0.00		0.00		0.00		827,292.00		0.00		0.00		84,940,000.00
A-1C2	20,000,000.00		194,794.45		0.00		0.00		0.00		194,794.45		0.00		0.00		20,000,000.00
A-2	136,857,000.00		1,274,943.39		6,781,275.78		372,572.33		7,153,848.11		8,428,791.50		0.00		0.00		129,703,151.89
A-3	81,671,900.00		780,759.45		3,896,616.45		372,572.33		4,269,188.79		5,049,948.24		0.00		0.00		77,402,711.21
M-1	35,532,000.00		358,123.08		0.00		0.00		0.00		358,123.08		0.00		0.00		35,532,000.00
M-2	32,443,000.00		329,990.37		0.00		0.00		0.00		329,990.37		0.00		0.00		32,443,000.00
M-3	20,599,000.00		211,425.85		0.00		0.00		0.00		211,425.85		0.00		0.00		20,599,000.00
M-4	27,808,000.00		305,138.73		0.00		0.00		0.00		305,138.73		0.00		0.00		27,808,000.00
M-5	16,994,000.00		188,572.03		0.00		0.00		0.00		188,572.03		0.00		0.00		16,994,000.00
M-6	15,964,000.00		204,215.03		0.00		0.00		0.00		204,215.03		0.00		0.00		15,964,000.00
M-7	12,874,000.00		167,862.65		0.00		0.00		0.00		167,862.65		0.00		0.00		12,874,000.00
M-8	10,300,000.00		159,707.23		0.00		0.00		0.00		159,707.23		0.00		0.00		10,300,000.00
M-9	10,300,000.00		159,707.23		0.00		0.00		0.00		159,707.23		0.00		0.00		10,300,000.00
CE	30,382,316.00		6,722,087.57		0.00		0.00		0.00		6,722,087.57		0.00		8.82		30,382,324.82
P	100.00		556,361.51		0.00		0.00		0.00		556,361.51		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	1,029,909,316.00		16,860,790.11		40,926,573.72		1,764,995.16		42,691,568.89		59,552,359.00		0.00		8.82		987,217,755.93


Interest Detail -
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or

	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	3.15000%		320,238,658.59		840,626.48		0.00		0.00		0.00		840,626.48		840,626.48		0.00
A-1B	3.28000%		154,353,000.00		421,898.20		0.00		0.00		0.00		421,898.20		421,898.20		0.00
A-1C1	3.40000%		84,940,000.00		240,663.33		0.00		0.00		0.00		240,663.33		240,663.33		0.00
A-1C2	3.40000%		20,000,000.00		56,666.67		0.00		0.00		0.00		56,666.67		56,666.67		0.00
A-2	3.30000%		132,589,578.13		364,621.34		0.00		0.00		0.00		364,621.34		364,621.34		0.00
A-3	3.38000%		79,125,238.49		222,869.42		0.00		0.00		0.00		222,869.42		222,869.42		0.00
M-1	3.51000%		35,532,000.00		103,931.10		0.00		0.00		0.00		103,931.10		103,931.10		0.00
M-2	3.54000%		32,443,000.00		95,706.85		0.00		0.00		0.00		95,706.85		95,706.85		0.00
M-3	3.57000%		20,599,000.00		61,282.03		0.00		0.00		0.00		61,282.03		61,282.03		0.00
M-4	3.80000%		27,808,000.00		88,058.67		0.00		0.00		0.00		88,058.67		88,058.67		0.00
M-5	3.84000%		16,994,000.00		54,380.80		0.00		0.00		0.00		54,380.80		54,380.80		0.00
M-6	4.39000%		15,964,000.00		58,401.63		0.00		0.00		0.00		58,401.63		58,401.63		0.00
M-7	4.47000%		12,874,000.00		47,955.65		0.00		0.00		0.00		47,955.65		47,955.65		0.00
M-8	5.27000%		10,300,000.00		45,234.17		0.00		0.00		0.00		45,234.17		45,234.17		0.00
M-9	5.27000%		10,300,000.00		45,234.17		0.00		0.00		0.00		45,234.17		45,234.17		0.00
CE	103.07722%		30,382,324.82		0.00		0.00		0.00		0.00		0.00		2,609,771.23		0.00
P	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		226,594.52		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			1,004,442,900.03		2,747,530.51		0.00		0.00		0.00		2,747,530.51		5,583,896.26		0.00



Page 3 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
														Total
Principal Collections														17,225,144.10
Principal Withdrawals														0.00
Principal Other Accounts														0.00
TOTAL NET PRINCIPAL														17,225,144.10
Interest Collections														5,425,876.75
Interest Withdrawals														-0.00
Interest Fees														-68,575.01
Interest Other Accounts														226,594.52
TOTAL NET INTEREST														5,583,896.26
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION														22,809,040.36



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
															Total
Scheduled Principal Received															459,787.14
Curtailments															(36,605.49)
Prepayments In Full															16,801,962.45
Repurchased/Substitutions															0.00
Liquidations															0.00
Insurance Principal															0.00
Other Additional Principal															0.00
Delinquent Principal															-390,278.85
Realized Losses															-0.00
Advanced Principal															390,278.85
TOTAL PRINCIPAL COLLECTED															17,225,144.10


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
														Total
TOTAL PRINCIPAL OTHER ACCOUNTS														0.00





Page 4 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
														Total
Scheduled Interest														5,778,330.72
Repurchased/Substitution Interest														0.00
Liquidation Interest														0.00
Insurance Interest														0.00
Other Additional Interest														0.00
Prepayment Interest Shortfalls														-44,427.64
Delinquent Interest														-4,867,528.47
Compensating Interest														44,427.63
Civil Relief Act Shortfalls														-0.00
Interest Advanced														4,515,074.50
TOTAL INTEREST COLLECTED														5,425,876.75


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
														Total
Non-Recoverable Advances														0.00
Reimbursements to Master Servicer														0.00
TOTAL INTEREST WITHDRAWALS														0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
														Total
Prepayment Charges														226,594.52
Net WAC Investment Income														0.00
Current Cap Provider Payments Received														0.00
TOTAL INTEREST OTHER ACCOUNTS														226,594.52



INTEREST - FEES
INTEREST - FEES
														Total
Current Servicing Fees														66,063.90
Trustee Fees														2,511.11
TOTAL INTEREST FEES														68,575.01




Page 5 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS

SPACE INTENTIONALLY LEFT BLANK



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
														Total
Overcollateralized Amount - Prior Period														30,382,324.82
Current Period Losses														0.00
Overcollateralized Amount - After Current Losses														30,382,324.82

Overcollateralization Increase Amount														0.00
Overcollateralization Reduction Amount														0.00
Overcollateralization Amount - Ending														30,382,324.82

Overcollateralization Deficiency Amount														0.00
Required Overcollateralized Amount														30,382,324.82

Senior Enhancement Percentage														21.595674%



Page 6 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution
Collateral Report


COLLATERAL



															Total



Loan Count:


Original														4,816
Prior														4,723
Prefunding														0
Scheduled Paid Offs														-0
Full Voluntary Prepayments														-68
Repurchases														-0
Liquidations														-0
Current														4,655
Principal Balance:


Original														1,029,909,316.07
Prior														1,004,442,900.03
Prefunding														0.00
Scheduled Principal														-459,787.14
Partial Prepayments														(36,605.49)
Full Voluntary Prepayments														-16,801,962.45
Repurchases														-0.00
Liquidations														-0.00
Current														987,217,755.93





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
														Total
Weighted Average Coupon Original														6.91108%
Weighted Average Coupon Prior														6.90605%
Weighted Average Coupon Current														6.90333%
Weighted Average Months to Maturity Original														353
Weighted Average Months to Maturity Prior														353
Weighted Average Months to Maturity Current														352
Weighted Avg Remaining Amortization Term Original														353
Weighted Avg Remaining Amortization Term Prior														353
Weighted Avg Remaining Amortization Term Current														352
Weighted Average Seasoning Original														3.00
Weighted Average Seasoning Prior														4.00
Weighted Average Seasoning Current														5.00









Page 8 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
														Total
Weighted Average Margin Original														5.54959%
Weighted Average Margin Prior														5.54906%
Weighted Average Margin Current														5.54862%
Weighted Average Max Rate Original														13.82909%
Weighted Average Max Rate Prior														13.82393%
Weighted Average Max Rate Current														13.81958%
Weighted Average Min Rate Original														5.57827%
Weighted Average Min Rate Prior														5.57799%
Weighted Average Min Rate Current														5.57784%
Weighted Average Cap Up Original														1.50466%
Weighted Average Cap Up Prior														1.50470%
Weighted Average Cap Up Current														1.50479%
Weighted Average Cap Down Original														1.50466%
Weighted Average Cap Down Prior														1.50470%
Weighted Average Cap Down Current														1.50479%




SERVICING FEES & ADVANCES

															Total




Current Servicing Fees														66,063.90
Delinquent Servicing Fees														352,453.97
TOTAL SERVICING FEES														418,517.88


Total Servicing Fees														418,517.88
Compensating Interest														-44,427.63
Delinquent Servicing Fees														-352,453.97
COLLECTED SERVICING FEES														21,636.28


Total Advanced Interest														4,515,074.50
Total Advanced Principal														390,278.85
Aggregate Advances with respect to this Distribution														4,905,353.35





ADDITIONAL COLLATERAL INFORMATION
														Total
Prepayment Interest Shortfall (PPIS)														44,427.64
Compensating Interest														-44,427.63
Net Prepayment Interest Shortfall (PPIS)														0.00


Ending Pool Stated Principal Balance														987,217,755.93
Weighted Average Net Mortgage Rate														6.400326%




Page 9 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				8,339,346.87		1,232,989.90		0.00		9,572,336.77
			% Balance				0.84%		0.12%		0.00%		0.97%
			# Loans				39		3		0		42
			% # Loans				0.84%		0.06%		0.00%		0.90%
	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		8,339,346.87		1,232,989.90		0.00		9,572,336.77
			% Balance		0.00%		0.84%		0.12%		0.00%		0.97%
			# Loans		0		39		3		0		42
			% # Loans		0.00%		0.84%		0.06%		0.00%		0.90%









Page 10 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

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 11 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

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 12 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

															Total




Current


Number of Paid in Full Loans														68
Number of Repurchased Loans														0
Total Number of Loans Prepaid in Full														68
Curtailments Amount														-36,605.49
Paid in Full Balance														16,801,962.45
Repurchased Loans Balance														0.00
Total Prepayment Amount														16,765,356.96

Cumulative


Number of Paid in Full Loans														161
Number of Repurchased Loans														0
Total Number of Loans Prepaid in Full														161
Paid in Full Balance														40,759,513.60
Repurchased Loans Balance														0.00
Curtailments Amount														539,623.71
Total Prepayment Amount														41,299,137.31










Page 13 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

															Total



SMM														1.67%
3 Months Avg SMM														1.36%
12 Months Avg SMM														1.36%
Avg SMM Since Cut-off														1.36%


CPR														18.30%
3 Months Avg CPR														15.11%
12 Months Avg CPR														15.11%
Avg CPR Since Cut-off														15.11%


PSA														1,830.96%
3 Months Avg PSA Approximation														1,890.29%
12 Months Avg PSA Approximation														1,890.29%
Avg PSA Since Cut-off Approximation														1,890.29%










Page 14 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

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 15 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

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 Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1000222912 1			80,000.00		79,989.90			01-Jan-1900		6.000%		SC - 80.00%		Repur/Subs - 360		01-Jan-2005
			80,000.00

1731560 1			471,695.00		471,695.00			18-Apr-2005		6.450%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1731560 1					471,695.00			18-Apr-2005		6.450%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1855733 1			225,000.00		225,000.00			28-Apr-2005		7.990%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1855733 1					225,000.00			28-Apr-2005		7.990%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1881919 1			270,000.00		269,081.99			20-Apr-2005		8.000%		GA - 90.00%		Paid Off - 360		01-Dec-2004
1881919 1					269,081.99			20-Apr-2005		8.000%		GA - 90.00%		Paid Off - 360		01-Dec-2004
1893930 1			244,000.00		244,000.00			01-Apr-2005		7.250%		CA - 76.73%		Paid Off - 360		01-Dec-2004
1893930 1					244,000.00			01-Apr-2005		7.250%		CA - 76.73%		Paid Off - 360		01-Dec-2004
1895016 1			38,500.00		38,242.20			22-Apr-2005		10.000%		AZ - 20.00%		Paid Off - 240		01-Dec-2004
1895016 1					38,242.20			22-Apr-2005		10.000%		AZ - 20.00%		Paid Off - 240		01-Dec-2004
1895231 1			94,000.00		93,778.65			05-Apr-2005		10.850%		CA - 19.99%		Paid Off - 360		01-Dec-2004
1895231 1					93,778.65			05-Apr-2005		10.850%		CA - 19.99%		Paid Off - 360		01-Dec-2004
1907661 1			245,600.00		244,833.16			05-Apr-2005		8.300%		NY - 80.00%		Paid Off - 360		01-Jan-2005
1907661 1					244,833.16			05-Apr-2005		8.300%		NY - 80.00%		Paid Off - 360		01-Jan-2005
1908730 1			144,500.00		143,951.67			08-Apr-2005		7.450%		FL - 85.00%		Paid Off - 360		01-Dec-2004
1908730 1					143,951.67			08-Apr-2005		7.450%		FL - 85.00%		Paid Off - 360		01-Dec-2004
1908818 1			135,000.00		134,672.71			07-Apr-2005		8.550%		GA - 90.00%		Paid Off - 360		01-Jan-2005
1908818 1					134,672.71			07-Apr-2005		8.550%		GA - 90.00%		Paid Off - 360		01-Jan-2005
1917818 1			130,000.00		129,539.70			18-Apr-2005		7.800%		ME - 79.75%		Paid Off - 360		01-Dec-2004
1917818 1					129,539.70			18-Apr-2005		7.800%		ME - 79.75%		Paid Off - 360		01-Dec-2004
1919436 1			157,000.00		156,515.21			20-Apr-2005		7.990%		CA - 78.50%		Paid Off - 360		01-Jan-2005
1919436 1					156,515.21			20-Apr-2005		7.990%		CA - 78.50%		Paid Off - 360		01-Jan-2005
1923180 1			285,150.00		285,150.04			14-Apr-2005		7.800%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1923180 1					285,150.04			14-Apr-2005		7.800%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1924899 1			263,500.00		262,670.28			19-Apr-2005		7.250%		CA - 85.00%		Paid Off - 360		01-Jan-2005
1924899 1					262,670.28			19-Apr-2005		7.250%		CA - 85.00%		Paid Off - 360		01-Jan-2005
1927057 1			425,000.00		422,962.59			18-Apr-2005		6.250%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1927057 1					422,962.59			18-Apr-2005		6.250%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1929080 1			167,221.00		167,221.00			22-Apr-2005		6.400%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1929080 1					167,221.00			22-Apr-2005		6.400%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1932274 1			185,250.00		185,139.94			04-Apr-2005		8.700%		AZ - 95.00%		Paid Off - 360		01-Dec-2004
1932274 1					185,139.94			04-Apr-2005		8.700%		AZ - 95.00%		Paid Off - 360		01-Dec-2004
1939135 1			376,000.00		374,669.20			04-Apr-2005		7.800%		NJ - 80.00%		Paid Off - 360		01-Dec-2004
1939135 1					374,669.20			04-Apr-2005		7.800%		NJ - 80.00%		Paid Off - 360		01-Dec-2004
1941952 1			256,500.00		255,687.33			21-Apr-2005		7.550%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1941952 1					255,687.33			21-Apr-2005		7.550%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1943255 1			400,000.00		398,100.70			25-Apr-2005		6.300%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1943255 1					398,100.70			25-Apr-2005		6.300%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1945559 1			199,200.00		199,200.00			29-Apr-2005		6.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1945559 1					199,200.00			29-Apr-2005		6.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1947224 1			340,000.00		338,772.44			29-Apr-2005		6.550%		CA - 85.00%		Paid Off - 360		01-Jan-2005
1947224 1					338,772.44			29-Apr-2005		6.550%		CA - 85.00%		Paid Off - 360		01-Jan-2005
1950483 1			224,100.00		224,100.00			22-Apr-2005		7.850%		AZ - 90.00%		Paid Off - 360		01-Jan-2005
1950483 1					224,100.00			22-Apr-2005		7.850%		AZ - 90.00%		Paid Off - 360		01-Jan-2005
1954394 1			86,613.00		86,450.53			14-Apr-2005		10.850%		CA - 20.00%		Paid Off - 360		01-Dec-2004
1954394 1					86,450.53			14-Apr-2005		10.850%		CA - 20.00%		Paid Off - 360		01-Dec-2004
1955569 1			150,000.00		149,527.66			15-Apr-2005		7.250%		NV - 80.00%		Paid Off - 360		01-Jan-2005
1955569 1					149,527.66			15-Apr-2005		7.250%		NV - 80.00%		Paid Off - 360		01-Jan-2005
1956678 1			310,000.00		310,000.00			04-Apr-2005		5.900%		CA - 84.93%		Paid Off - 360		01-Jan-2005
1956678 1					310,000.00			04-Apr-2005		5.900%		CA - 84.93%		Paid Off - 360		01-Jan-2005
1959115 1			459,000.00		457,405.84			15-Apr-2005		6.750%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1959115 1					457,405.84			15-Apr-2005		6.750%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1963185 1			307,000.00		305,466.01			20-Apr-2005		6.625%		CA - 55.82%		Paid Off - 360		01-Jan-2005
1963185 1					305,466.01			20-Apr-2005		6.625%		CA - 55.82%		Paid Off - 360		01-Jan-2005
1965899 1			266,250.00		265,351.93			27-Apr-2005		6.900%		CA - 75.00%		Paid Off - 360		01-Jan-2005
1965899 1					265,351.93			27-Apr-2005		6.900%		CA - 75.00%		Paid Off - 360		01-Jan-2005
1965961 1			178,500.00		178,500.00			01-Apr-2005		6.990%		MI - 83.76%		Paid Off - 360		01-Jan-2005
1965961 1					178,500.00			01-Apr-2005		6.990%		MI - 83.76%		Paid Off - 360		01-Jan-2005
1972043 1			157,500.00		156,968.75			01-Apr-2005		6.900%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1972043 1					156,968.75			01-Apr-2005		6.900%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1975728 1			550,000.00		550,000.00			19-Apr-2005		6.490%		CA - 79.06%		Paid Off - 360		01-Jan-2005
1975728 1					550,000.00			19-Apr-2005		6.490%		CA - 79.06%		Paid Off - 360		01-Jan-2005
1977243 1			118,980.00		118,537.81			06-Apr-2005		6.400%		FL - 90.00%		Paid Off - 360		01-Jan-2005
1977243 1					118,537.81			06-Apr-2005		6.400%		FL - 90.00%		Paid Off - 360		01-Jan-2005
1980934 1			360,000.00		360,000.00			04-Apr-2005		6.100%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1980934 1					360,000.00			04-Apr-2005		6.100%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1981518 1			376,800.00		376,800.00			04-Apr-2005		6.350%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1981518 1					376,800.00			04-Apr-2005		6.350%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1982126 1			110,000.00		109,710.68			04-Apr-2005		8.150%		CA - 34.38%		Paid Off - 360		01-Jan-2005
1982126 1					109,710.68			04-Apr-2005		8.150%		CA - 34.38%		Paid Off - 360		01-Jan-2005
1000004104 1			350,400.00		350,400.00			13-Apr-2005		6.625%		CA - 80.00%		Paid Off - 300		01-Nov-2004
1000004104 1					350,400.00					6.625%		CA - 80.00%		Paid Off - 300



Page 16 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1000088728 1			321,525.00		321,525.00			25-Apr-2005		8.175%		RI - 90.00%		Paid Off - 360		01-Dec-2004
			321,525.00

1000098913 1			226,392.00		225,713.59			04-Apr-2005		7.500%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1000098913 1					225,713.59			04-Apr-2005		7.500%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1000114076 1			135,900.00		135,899.96			21-Apr-2005		8.675%		FL - 90.00%		Paid Off - 360		01-Jan-2005
1000114076 1					135,899.96			21-Apr-2005		8.675%		FL - 90.00%		Paid Off - 360		01-Jan-2005
1000115093 1			540,000.00		540,000.00			27-Apr-2005		6.950%		NJ - 90.00%		Paid Off - 360		01-Jan-2005
1000115093 1					540,000.00			27-Apr-2005		6.950%		NJ - 90.00%		Paid Off - 360		01-Jan-2005
1000116083 1			84,800.00		84,618.34			07-Apr-2005		9.150%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1000116083 1					84,618.34			07-Apr-2005		9.150%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1000122174 1			140,000.00		139,347.90			07-Apr-2005		8.450%		FL - 80.00%		Paid Off - 360		01-Jan-2005
1000122174 1					139,347.90			07-Apr-2005		8.450%		FL - 80.00%		Paid Off - 360		01-Jan-2005
1000132886 1			342,000.00		342,000.00			27-Apr-2005		6.750%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1000132886 1					342,000.00			27-Apr-2005		6.750%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1000148227 1			136,000.00		135,604.48			29-Apr-2005		7.650%		FL - 80.00%		Paid Off - 360		01-Jan-2005
1000148227 1					135,604.48			29-Apr-2005		7.650%		FL - 80.00%		Paid Off - 360		01-Jan-2005
1000155352 1			163,500.00		163,045.47			19-Apr-2005		7.875%		IL - 89.84%		Paid Off - 360		01-Jan-2005
1000155352 1					163,045.47			19-Apr-2005		7.875%		IL - 89.84%		Paid Off - 360		01-Jan-2005
1000169221 1			389,500.00		388,367.22			06-Apr-2005		7.650%		CT - 95.00%		Paid Off - 360		01-Jan-2005
1000169221 1					388,367.22			06-Apr-2005		7.650%		CT - 95.00%		Paid Off - 360		01-Jan-2005
1000184106 1			188,930.00		188,594.68			28-Apr-2005		8.650%		MD - 70.00%		Paid Off - 360		01-Feb-2005
1000184106 1					188,594.68			28-Apr-2005		8.650%		MD - 70.00%		Paid Off - 360		01-Feb-2005
1000186970 1			172,000.00		172,000.00			21-Apr-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1000186970 1					172,000.00			21-Apr-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1000187853 1			207,300.00		206,580.00			20-Apr-2005		6.750%		MA - 50.56%		Paid Off - 360		01-Jan-2005
1000187853 1					206,580.00			20-Apr-2005		6.750%		MA - 50.56%		Paid Off - 360		01-Jan-2005
1000197076 1			53,900.00		53,792.80			26-Apr-2005		11.350%		FL - 70.00%		Paid Off - 360		01-Feb-2005
1000197076 1					53,792.80			26-Apr-2005		11.350%		FL - 70.00%		Paid Off - 360		01-Feb-2005
1000205815 1			96,000.00		73,807.35			26-Apr-2005		6.000%		IN - 80.00%		Paid Off - 360		01-Jan-2005
1000205815 1					73,807.35			26-Apr-2005		6.000%		IN - 80.00%		Paid Off - 360		01-Jan-2005
1000227837 1			337,600.00		337,600.00			29-Apr-2005		5.550%		CO - 80.00%		Paid Off - 360		01-Jan-2005
1000227837 1					337,600.00			29-Apr-2005		5.550%		CO - 80.00%		Paid Off - 360		01-Jan-2005
1000231403 1			414,000.00		412,548.06			05-Apr-2005		6.700%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1000231403 1					412,548.06			05-Apr-2005		6.700%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1000276999 1			346,500.00		346,500.00			11-Apr-2005		7.200%		IN - 90.00%		Paid Off - 360		01-Feb-2005
1000276999 1					346,500.00			11-Apr-2005		7.200%		IN - 90.00%		Paid Off - 360		01-Feb-2005
1000278951 1			170,000.00		169,555.82			27-Apr-2005		7.450%		WA - 85.00%		Paid Off - 360		01-Feb-2005
1000278951 1					169,555.82			27-Apr-2005		7.450%		WA - 85.00%		Paid Off - 360		01-Feb-2005
1000299448 1			270,000.00		269,357.97			13-Apr-2005		7.200%		CA - 90.00%		Paid Off - 360		01-Feb-2005
					269,357.97			13-Apr-2005		7.200%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1000312717 1			436,000.00		434,407.60			21-Apr-2005		6.990%		NJ - 80.00%		Paid Off - 360		01-Jan-2005
1000312717 1					434,407.60			21-Apr-2005		6.990%		NJ - 80.00%		Paid Off - 360		01-Jan-2005
1000342953 1			86,250.00		86,073.45			14-Apr-2005		7.950%		MO - 75.00%		Paid Off - 360		01-Feb-2005
1000342953 1					86,073.45			14-Apr-2005		7.950%		MO - 75.00%		Paid Off - 360		01-Feb-2005
1000372000 1			362,100.00		361,423.52			28-Apr-2005		8.400%		VA - 79.99%		Paid Off - 360		01-Feb-2005
1000372000 1					361,423.52			28-Apr-2005		8.400%		VA - 79.99%		Paid Off - 360		01-Feb-2005
1000426916 1			233,000.00		232,358.48			18-Apr-2005		6.450%		NY - 59.74%		Paid Off - 360		01-Feb-2005
1000426916 1					232,358.48			18-Apr-2005		6.450%		NY - 59.74%		Paid Off - 360		01-Feb-2005
1000466677 1			253,600.00		252,881.28			27-Apr-2005		6.300%		IL - 80.00%		Paid Off - 360		01-Feb-2005
1000466677 1					252,881.28			27-Apr-2005		6.300%		IL - 80.00%		Paid Off - 360		01-Feb-2005
1000482098 1			78,530.00		78,459.59			15-Apr-2005		11.850%		NV - 20.00%		Paid Off - 360		01-Feb-2005
1000482098 1					78,459.59			15-Apr-2005		11.850%		NV - 20.00%		Paid Off - 360		01-Feb-2005
1000482365 1			172,800.00		172,171.65			12-Apr-2005		8.900%		WI - 80.00%		Paid Off - 360		01-Feb-2005
1000482365 1					172,171.65			12-Apr-2005		8.900%		WI - 80.00%		Paid Off - 360		01-Feb-2005
1000504163 1			50,000.00		49,883.14			11-Apr-2005		7.600%		OR - 52.08%		Paid Off - 360		01-Feb-2005
1000504163 1					49,883.14			11-Apr-2005		7.600%		OR - 52.08%		Paid Off - 360		01-Feb-2005
1000510780 1			153,000.00		152,779.50			27-Apr-2005		9.650%		ME - 68.92%		Paid Off - 360		01-Feb-2005
1000510780 1					152,779.50			27-Apr-2005		9.650%		ME - 68.92%		Paid Off - 360		01-Feb-2005
1000510959 1			205,000.00		204,472.68			08-Apr-2005		6.800%		MA - 53.95%		Paid Off - 360		01-Feb-2005
1000510959 1					204,472.68			08-Apr-2005		6.800%		MA - 53.95%		Paid Off - 360		01-Feb-2005
1000528968 1			333,000.00		333,000.00			29-Apr-2005		6.200%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1000528968 1					333,000.00			29-Apr-2005		6.200%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1000533499 1			617,500.00		617,500.00			18-Apr-2005		7.300%		CA - 65.00%		Paid Off - 360		01-Feb-2005
1000533499 1					617,500.00			18-Apr-2005		7.300%		CA - 65.00%		Paid Off - 360		01-Feb-2005


TOTAL			16,854,886.00		16,801,962.45
TOTAL


Page 17 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



															Total


Current
Current



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

Cumulative
Cumulative



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










Page 18 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution


DEFAULT SPEEDS



															Total



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


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


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


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












Page 19 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

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 20 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative
															Cumulative
&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)




TOTAL



Page 21 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
														Total
						Does a Trigger Event Exist? (0=No,1=Yes)								0
						Has a Stepdown Date Occurred? (0=No,1=Yes)								0



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
														Total
Current LIBOR Rate														3.020000%
Next LIBOR Rate														3.090000%




Page 22 of 23
Carrington Mortgage Loan Trust 2005-NC1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC1

May 25, 2005 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

													Net WAC Shortfall Carryover		Net WAC Shortfall Paid
CLASS

			A-1A										0.00		0.00
													0.00		0.00
			A-1B										0.00		0.00
													0.00		0.00
			A-1C1										0.00		0.00
													0.00		0.00
			A-1C2										0.00		0.00
													0.00		0.00
			A-2										0.00		0.00
													0.00		0.00
			A-3										0.00		0.00
													0.00		0.00
			M-1										0.00		0.00
													0.00		0.00
			M-2										0.00		0.00
													0.00		0.00
			M-3										0.00		0.00
													0.00		0.00
			M-4										0.00		0.00
													0.00		0.00
			M-5										0.00		0.00
													0.00		0.00
			M-6										0.00		0.00
													0.00		0.00
			M-7										0.00		0.00
													0.00		0.00
			M-8										0.00		0.00
													0.00		0.00
			M-9										0.00		0.00
													0.00		0.00






Page 23 of 23

Carrington Mortgage Loan Trust, Series 2005-NC1 8-K