

                                       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): June 27, 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
     June 27, 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 30, 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 June 27, 2005.



Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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					25

										10. Realized Loss Detail Report					28
										11. Triggers and Adj. Cert. Report					29
				Servicer(s)
										12. Additional Certificate Report					30
				Ameriquest Mortgage Corp



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

										Total Number of Pages					30



				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:			June 27, 2005
										Factor Information:			(800) 735-7777
				Record Date:			May 31, 2005
										Main Phone Number:			(714) 247-6000

							June 24, 2005


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






Page 1 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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		409,146,606.98		1,233,917.98		6,684,049.24		7,917,967.22		0.00		0.00		402,462,557.74

A-1B	FLT, STEP	$	103,600,000.00		102,287,145.41		314,106.78		1,671,020.37		1,985,127.15		0.00		0.00		100,616,125.04
A-2A	FLT, STEP	$	419,185,000.00		414,119,014.16		1,256,506.11		6,569,078.97		7,825,585.08		0.00		0.00		407,549,935.19
A-2B	FLT, STEP	$	104,796,000.00		103,529,506.56		318,870.88		1,642,265.82		1,961,136.70		0.00		0.00		101,887,240.74
A-3A	FLT, STEP	$	292,740,000.00		282,854,833.81		824,521.84		17,364,267.99		18,188,789.83		0.00		0.00		265,490,565.82
A-3B	FLT, STEP	$	125,396,000.00		125,396,000.00		371,276.66		0.00		371,276.66		0.00		0.00		125,396,000.00
A-3C	FLT, STEP	$	158,909,000.00		158,909,000.00		479,243.06		0.00		479,243.06		0.00		0.00		158,909,000.00
A-3D	FLT, STEP	$	130,976,000.00		130,976,000.00		409,409.15		0.00		409,409.15		0.00		0.00		130,976,000.00
M-1	MEZ, FLT, S	$	53,000,000.00		53,000,000.00		171,499.17		0.00		171,499.17		0.00		0.00		53,000,000.00
M-2	MEZ, FLT, S	$	47,000,000.00		47,000,000.00		153,376.67		0.00		153,376.67		0.00		0.00		47,000,000.00
M-3	MEZ, FLT, S	$	27,000,000.00		27,000,000.00		89,100.00		0.00		89,100.00		0.00		0.00		27,000,000.00
M-4	MEZ, FLT, S	$	25,000,000.00		25,000,000.00		85,020.83		0.00		85,020.83		0.00		0.00		25,000,000.00
M-5	MEZ, FLT, S	$	19,000,000.00		19,000,000.00		65,138.33		0.00		65,138.33		0.00		0.00		19,000,000.00
M-6	MEZ, FLT, S	$	13,000,000.00		13,000,000.00		45,164.17		0.00		45,164.17		0.00		0.00		13,000,000.00
M-7	MEZ, FLT, S	$	10,000,000.00		10,000,000.00		40,425.00		0.00		40,425.00		0.00		0.00		10,000,000.00
M-8	MEZ, FLT, S	$	10,000,000.00		10,000,000.00		41,341.67		0.00		41,341.67		0.00		0.00		10,000,000.00
M-9	MEZ, FLT, S	$	13,000,000.00		13,000,000.00		60,060.00		0.00		60,060.00		0.00		0.00		13,000,000.00
M-10	MEZ, FLT, S	$	23,000,000.00		23,000,000.00		117,855.83		0.00		117,855.83		0.00		0.00		23,000,000.00
CE	SUB	$	9,999,910.51		10,000,000.05		2,953,186.16		0.00		2,953,186.16		0.00		0.00		10,000,000.05
P	EXE	$	100.00		100.00		376,842.55		0.00		376,842.55		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		1,977,218,206.97		9,406,862.84		33,930,682.39		43,337,545.23		0.00		0.00		1,943,287,524.58






Page 2 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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	05/25/05		06/26/05		A-Act/360		03072SA96		414,398,000.00		987.327658		2.977616		16.129540		19.107156	971.198118
A-1B	05/25/05		06/26/05		A-Act/360		03072SZS7		103,600,000.00		987.327658		3.031919		16.129540		19.161459	971.198118
A-2A	05/25/05		06/26/05		A-Act/360		03072SB20		419,185,000.00		987.914678		2.997498		15.671074		18.668571	972.243604
A-2B	05/25/05		06/26/05		A-Act/360		03072SB38		104,796,000.00		987.914678		3.042777		15.671074		18.713851	972.243604
A-3A	05/25/05		06/26/05		A-Act/360		03072SZT5		292,740,000.00		966.232267		2.816567		59.316349		62.132916	906.915918
A-3B	05/25/05		06/26/05		A-Act/360		03072SZU2		125,396,000.00		1,000.000000		2.960833		0.000000		2.960833	1,000.000000
A-3C	05/25/05		06/26/05		A-Act/360		03072SZV0		158,909,000.00		1,000.000000		3.015833		0.000000		3.015833	1,000.000000
A-3D	05/25/05		06/26/05		A-Act/360		03072SZW8		130,976,000.00		1,000.000000		3.125833		0.000000		3.125833	1,000.000000
M-1	05/25/05		06/26/05		A-Act/360		03072SZX6		53,000,000.00		1,000.000000		3.235833		0.000000		3.235833	1,000.000000
M-2	05/25/05		06/26/05		A-Act/360		03072SZY4		47,000,000.00		1,000.000000		3.263333		0.000000		3.263333	1,000.000000
M-3	05/25/05		06/26/05		A-Act/360		03072SZZ1		27,000,000.00		1,000.000000		3.300000		0.000000		3.300000	1,000.000000
M-4	05/25/05		06/26/05		A-Act/360		03072SA21		25,000,000.00		1,000.000000		3.400833		0.000000		3.400833	1,000.000000
M-5	05/25/05		06/26/05		A-Act/360		03072SA39		19,000,000.00		1,000.000000		3.428333		0.000000		3.428333	1,000.000000
M-6	05/25/05		06/26/05		A-Act/360		03072SA47		13,000,000.00		1,000.000000		3.474167		0.000000		3.474167	1,000.000000
M-7	05/25/05		06/26/05		A-Act/360		03072SA54		10,000,000.00		1,000.000000		4.042500		0.000000		4.042500	1,000.000000
M-8	05/25/05		06/26/05		A-Act/360		03072SA62		10,000,000.00		1,000.000000		4.134167		0.000000		4.134167	1,000.000000
M-9	05/25/05		06/26/05		A-Act/360		03072SA70		13,000,000.00		1,000.000000		4.620000		0.000000		4.620000	1,000.000000
M-10	05/25/05		06/26/05		A-Act/360		03072SA88		23,000,000.00		1,000.000000		5.124167		0.000000		5.124167	1,000.000000
CE	05/01/05		05/30/05		A-30/360				9,999,910.51		1,000.008954		295.321259		0.000000		295.321259	1,000.008954
P	05/01/05		05/30/05				100.00		1,000.000000		3,768,425.500000		0.000000		3,768,425.500000		1,000.000000
R	05/01/05		05/30/05				0.00		0.000000		0.000000		0.000000		0.000000		0.000000




Page 3 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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		2,278,200.94		11,238,660.77		696,781.49		11,935,442.26		14,213,643.20		0.00		0.00		402,462,557.74
A-1B	103,600,000.00		580,013.45		2,809,678.75		174,196.21		2,983,874.96		3,563,888.41		0.00		0.00		100,616,125.04
A-2A	419,185,000.00		2,319,372.97		10,957,094.03		677,970.78		11,635,064.81		13,954,437.78		0.00		0.00		407,549,935.19
A-2B	104,796,000.00		588,662.36		2,739,266.97		169,492.29		2,908,759.26		3,497,421.62		0.00		0.00		101,887,240.74
A-3A	292,740,000.00		1,537,181.11		25,709,014.80		1,540,419.38		27,249,434.18		28,786,615.29		0.00		0.00		265,490,565.82
A-3B	125,396,000.00		681,422.77		0.00		0.00		0.00		681,422.77		0.00		0.00		125,396,000.00
A-3C	158,909,000.00		879,693.74		0.00		0.00		0.00		879,693.74		0.00		0.00		158,909,000.00
A-3D	130,976,000.00		751,693.10		0.00		0.00		0.00		751,693.10		0.00		0.00		130,976,000.00
M-1	53,000,000.00		314,952.50		0.00		0.00		0.00		314,952.50		0.00		0.00		53,000,000.00
M-2	47,000,000.00		281,686.67		0.00		0.00		0.00		281,686.67		0.00		0.00		47,000,000.00
M-3	27,000,000.00		163,650.00		0.00		0.00		0.00		163,650.00		0.00		0.00		27,000,000.00
M-4	25,000,000.00		156,187.50		0.00		0.00		0.00		156,187.50		0.00		0.00		25,000,000.00
M-5	19,000,000.00		119,668.33		0.00		0.00		0.00		119,668.33		0.00		0.00		19,000,000.00
M-6	13,000,000.00		82,979.73		0.00		0.00		0.00		82,979.73		0.00		0.00		13,000,000.00
M-7	10,000,000.00		74,336.11		0.00		0.00		0.00		74,336.11		0.00		0.00		10,000,000.00
M-8	10,000,000.00		76,030.56		0.00		0.00		0.00		76,030.56		0.00		0.00		10,000,000.00
M-9	13,000,000.00		110,514.44		0.00		0.00		0.00		110,514.44		0.00		0.00		13,000,000.00
M-10	23,000,000.00		216,960.27		0.00		0.00		0.00		216,960.27		0.00		0.00		23,000,000.00
CE	9,999,910.51		6,914,657.88		-83.11		-6.43		0.00		6,914,657.88		0.00		89.54		10,000,000.05
P	100.00		578,837.43		0.00		0.00		0.00		578,837.43		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		18,706,701.86		53,453,632.21		3,258,853.72		56,712,575.47		75,419,277.33		0.00		89.54		1,943,287,524.58



Page 4 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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	3.29000%		409,146,606.98		1,233,917.98		0.00		0.00		0.00		1,233,917.98		1,233,917.98		0.00
A-1B	3.35000%		102,287,145.41		314,106.78		0.00		0.00		0.00		314,106.78		314,106.78		0.00
A-2A	3.31000%		414,119,014.16		1,256,506.11		0.00		0.00		0.00		1,256,506.11		1,256,506.11		0.00
A-2B	3.36000%		103,529,506.56		318,870.88		0.00		0.00		0.00		318,870.88		318,870.88		0.00
A-3A	3.18000%		282,854,833.81		824,521.84		0.00		0.00		0.00		824,521.84		824,521.84		0.00
A-3B	3.23000%		125,396,000.00		371,276.66		0.00		0.00		0.00		371,276.66		371,276.66		0.00
A-3C	3.29000%		158,909,000.00		479,243.06		0.00		0.00		0.00		479,243.06		479,243.06		0.00
A-3D	3.41000%		130,976,000.00		409,409.15		0.00		0.00		0.00		409,409.15		409,409.15		0.00
M-1	3.53000%		53,000,000.00		171,499.17		0.00		0.00		0.00		171,499.17		171,499.17		0.00
M-2	3.56000%		47,000,000.00		153,376.67		0.00		0.00		0.00		153,376.67		153,376.67		0.00
M-3	3.60000%		27,000,000.00		89,100.00		0.00		0.00		0.00		89,100.00		89,100.00		0.00
M-4	3.71000%		25,000,000.00		85,020.83		0.00		0.00		0.00		85,020.83		85,020.83		0.00
M-5	3.74000%		19,000,000.00		65,138.33		0.00		0.00		0.00		65,138.33		65,138.33		0.00
M-6	3.79000%		13,000,000.00		45,164.17		0.00		0.00		0.00		45,164.17		45,164.17		0.00
M-7	4.41000%		10,000,000.00		40,425.00		0.00		0.00		0.00		40,425.00		40,425.00		0.00
M-8	4.51000%		10,000,000.00		41,341.67		0.00		0.00		0.00		41,341.67		41,341.67		0.00
M-9	5.04000%		13,000,000.00		60,060.00		0.00		0.00		0.00		60,060.00		60,060.00		0.00
M-10	5.59000%		23,000,000.00		117,855.83		0.00		0.00		0.00		117,855.83		117,855.83		0.00
CE	0.00000%		10,000,000.05		0.00		0.00		0.00		0.00		0.00		2,953,186.16		0.00
P	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		376,842.55		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			1,977,218,206.97		#######		0.00		0.00		0.00		6,076,834.13		9,406,862.84		0.00



Page 5 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 2005 Distribution
Collection Account Report
SUMMARY

								Group 3		Group 2		Group 1		Total
Principal Collections								17,364,267.99		8,211,344.79		8,355,069.61		33,930,682.39
Principal Withdrawals								0.00		0.00		0.00		0.00
Principal Other Accounts								0.00		0.00		0.00		0.00
TOTAL NET PRINCIPAL								17,364,267.99		8,211,344.79		8,355,069.61		33,930,682.39
Interest Collections								4,898,367.90		3,692,087.00		3,639,730.66		12,230,185.56
Interest Withdrawals								-0.00		-0.00		-0.00		-0.00
Interest Fees								-690,565.25		-539,075.68		-523,036.09		-3,200,165.27
Interest Other Accounts								205,284.79		86,579.25		84,978.51		376,842.55
TOTAL NET INTEREST								4,413,087.45		3,239,590.57		3,201,673.08		9,406,862.84
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION								21,777,355.44		11,450,935.36		11,556,742.69		43,337,545.23



PRINCIPAL - COLLECTIONS

									Group 3		Group 2		Group 1		Total
Scheduled Principal Received									651,601.69		490,471.12		481,318.80		1,623,391.61
Curtailments									28,838.86		65,036.76		52,715.21		146,590.83
Prepayments In Full									16,137,424.10		7,450,987.54		7,821,035.60		31,409,447.24
Repurchased/Substitutions									546,403.34		204,849.37		0.00		751,252.71
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									-223,788.16		-139,156.93		-148,706.18		-511,651.27
Realized Losses									-0.00		-0.00		-0.00		-0.00
Advanced Principal									223,788.16		139,156.93		148,706.18		511,651.27
TOTAL PRINCIPAL COLLECTED									17,364,267.99		8,211,344.79		8,355,069.61		33,930,682.39


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 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 2005 Distribution

INTEREST - COLLECTIONS

								Group 3		Group 2		Group 1		Total
Scheduled Interest								5,017,647.86		3,768,798.54		3,721,433.26		12,507,879.66
Repurchased/Substitution Interest								3,632.23		1,288.84		0.00		4,921.07
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								-26,600.86		-7,190.40		-14,021.90		-47,813.16
Delinquent Interest								-1,901,839.61		-1,251,277.77		-1,297,029.84		-4,450,147.22
Compensating Interest								26,600.86		7,190.39		14,021.90		47,813.15
Civil Relief Act Shortfalls								-0.00		-0.00		-0.00		-0.00
Interest Advanced								1,778,927.42		1,173,277.39		1,215,327.24		4,167,532.05
TOTAL INTEREST COLLECTED								4,898,367.90		3,692,087.00		3,639,730.66		12,230,185.56


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								205,284.79		86,579.25		84,978.51		376,842.55
Net WAC Investment Income														0.00
TOTAL INTEREST OTHER ACCOUNTS								205,284.79		86,579.25		84,978.51		376,842.55



INTEREST - FEES

								Group 3		Group 2		Group 1		Total
Current Servicing Fees								210,122.06		168,875.68		162,228.01		541,225.75
Trustee Fees								699.37		518.44		512.25		1,730.07
PMI								479,743.82		369,681.56		360,295.82		1,209,721.20
SWAP INFLOW / (OUTFLOW)								0.00		0.00		0.00		1,447,488.25
TOTAL INTEREST FEES								690,565.25		539,075.68		523,036.09		3,200,165.27




Page 7 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 2005 Distribution
Collateral Report


COLLATERAL



									Group 3		Group 2		Group 1		Total



Loan Count:


Original								3,789		3,838		3,684		11,311
Prior								3,751		3,806		3,649		11,206
Prefunding								0		0		0		0
Scheduled Paid Offs								-0		-0		-0		-0
Full Voluntary Prepayments								-61		-44		-46		-151
Repurchases								-3		-1		-0		-4
Liquidations								-0		-0		-0		-0
Current								3,687		3,761		3,603		11,051
Principal Balance:


Original								809,167,298.58		598,835,010.62		591,997,701.31		2,000,000,010.51
Prior								799,282,171.24		592,502,556.23		585,433,479.50		1,977,218,206.97
Prefunding								0.00		0.00		0.00		0.00
Scheduled Principal								-651,601.69		-490,471.12		-481,318.80		-1,623,391.61
Partial Prepayments								-28,838.86		-65,036.76		-52,715.21		-146,590.83
Full Voluntary Prepayments								-16,137,424.10		-7,450,987.54		-7,821,035.60		-31,409,447.24
Repurchases								-546,403.34		-204,849.37		-0.00		-751,252.71
Liquidations								-0.00		-0.00		-0.00		-0.00
Current								781,917,903.25		584,291,211.44		577,078,409.89		1,943,287,524.58





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 8 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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								7.53868%		7.63559%		7.62806%		7.59419%
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								351		350		350		350
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								351		350		350		350
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								3.31		3.25		3.28		3.28









Page 9 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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								5.86343%		5.80019%		5.82274%		5.83239%
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								13.74534%		13.82014%		13.81753%		13.78919%
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								7.74534%		7.82014%		7.81753%		7.78919%
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								210,122.06		168,875.68		162,228.01		541,225.75
Delinquent Servicing Fees								122,912.18		78,000.38		81,702.61		282,615.17
TOTAL SERVICING FEES								333,034.24		246,876.07		243,930.63		823,840.94


Total Servicing Fees								333,034.24		246,876.07		243,930.63		823,840.94
Compensating Interest								-26,600.86		-7,190.39		-14,021.90		-47,813.15
Delinquent Servicing Fees								-122,912.18		-78,000.38		-81,702.61		-282,615.17
COLLECTED SERVICING FEES								183,521.20		161,685.30		148,206.12		493,412.62


Total Advanced Interest								1,778,927.42		1,173,277.39		1,215,327.24		4,167,532.05
Total Advanced Principal								223,788.16		139,156.93		148,706.18		511,651.27
Aggregate Advances with respect to this Distribution								2,002,715.58		1,312,434.32		1,364,033.42		4,679,183.32





ADDITIONAL COLLATERAL INFORMATION
								Group 3		Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)								26,600.86		7,190.40		14,021.90		47,813.16
Compensating Interest								-26,600.86		-7,190.39		-14,021.90		-47,813.15
Net Prepayment Interest Shortfall (PPIS)								0.00		0.00		0.00		0.00


Ending Pool Stated Principal Balance								781,917,903.25		584,291,211.44		577,078,409.89		1,943,287,524.58
Weighted Average Net Mortgage Rate										6.561168%		6.562672%		5.709150%




Page 10 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				6,897,132.14		0.00		0.00		6,897,132.14
			% Balance				0.35%		0.00%		0.00%		0.35%
			# Loans				36		0		0		36
			% # Loans				0.33%		0.00%		0.00%		0.33%
	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		1,335,617.21		0.00		0.00		0.00		1,335,617.21
			% Balance		0.07%		0.00%		0.00%		0.00%		0.07%
			# Loans		11		0		0		0		11
			% # Loans		0.10%		0.00%		0.00%		0.00%		0.10%
	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		1,335,617.21		6,897,132.14		0.00		0.00		8,232,749.35
			% Balance		0.07%		0.35%		0.00%		0.00%		0.42%
			# Loans		11		36		0		0		47
			% # Loans		0.10%		0.33%		0.00%		0.00%		0.43%









Page 11 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				1,544,245.91		0.00		0.00		1,544,245.91
			% Balance				0.27%		0.00%		0.00%		0.27%
			# Loans				11		0		0		11
			% # Loans				0.31%		0.00%		0.00%		0.31%
	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		636,644.22		0.00		0.00		0.00		636,644.22
			% Balance		0.11%		0.00%		0.00%		0.00%		0.11%
			# Loans		6		0		0		0		6
			% # Loans		0.17%		0.00%		0.00%		0.00%		0.17%
	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		636,644.22		1,544,245.91		0.00		0.00		2,180,890.13
			% Balance		0.11%		0.27%		0.00%		0.00%		0.38%
			# Loans		6		11		0		0		17
			% # Loans		0.17%		0.31%		0.00%		0.00%		0.47%










Page 12 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				2,503,668.45		0.00		0.00		2,503,668.45
			% Balance				0.43%		0.00%		0.00%		0.43%
			# Loans				14		0		0		14
			% # Loans				0.37%		0.00%		0.00%		0.37%
	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		120,977.05		0.00		0.00		0.00		120,977.05
			% Balance		0.02%		0.00%		0.00%		0.00%		0.02%
			# Loans		1		0		0		0		1
			% # Loans		0.03%		0.00%		0.00%		0.00%		0.03%
	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		120,977.05		2,503,668.45		0.00		0.00		2,624,645.50
			% Balance		0.02%		0.43%		0.00%		0.00%		0.45%
			# Loans		1		14		0		0		15
			% # Loans		0.03%		0.37%		0.00%		0.00%		0.40%










Page 13 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 2005 Distribution

	GROUP 3
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				2,849,217.78		0.00		0.00		2,849,217.78
			% Balance				0.36%		0.00%		0.00%		0.36%
			# Loans				11		0		0		11
			% # Loans				0.30%		0.00%		0.00%		0.30%
	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		577,995.94		0.00		0.00		0.00		577,995.94
			% Balance		0.07%		0.00%		0.00%		0.00%		0.07%
			# Loans		4		0		0		0		4
			% # Loans		0.11%		0.00%		0.00%		0.00%		0.11%
	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		577,995.94		2,849,217.78		0.00		0.00		3,427,213.72
			% Balance		0.07%		0.36%		0.00%		0.00%		0.44%
			# Loans		4		11		0		0		15
			% # Loans		0.11%		0.30%		0.00%		0.00%		0.41%









Page 14 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


									Group 3		Group 2		Group 1		Total




Current


Number of Paid in Full Loans								61		44		46		151
Number of Repurchased Loans								3		1		0		4
Total Number of Loans Prepaid in Full								64		45		46		155
Curtailments Amount								28,838.86		65,036.76		52,715.21		146,590.83
Paid in Full Balance								16,137,424.10		7,450,987.54		7,821,035.60		31,409,447.24
Repurchased Loans Balance								546,403.34		204,849.37		0.00		751,252.71
Total Prepayment Amount								16,712,666.30		7,720,873.67		7,873,750.81		32,307,290.78

Cumulative


Number of Paid in Full Loans								89		65		71		225
Number of Repurchased Loans								13		12		10		35
Total Number of Loans Prepaid in Full								102		77		81		260
Paid in Full Balance								23,704,564.16		11,493,126.40		12,459,099.26		47,656,789.82
Repurchased Loans Balance								2,139,004.40		1,906,193.92		1,381,203.39		5,426,401.71
Curtailments Amount								95,556.53		161,506.34		113,377.80		370,440.67
Total Prepayment Amount								25,939,125.09		13,560,826.66		13,953,680.45		53,453,632.20










Page 17 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


									Group 3		Group 2		Group 1		Total



SMM								2.09%		1.30%		1.35%		1.64%
3 Months Avg SMM								1.62%		1.14%		1.19%		1.35%
12 Months Avg SMM								1.62%		1.14%		1.19%		1.35%
Avg SMM Since Cut-off								1.62%		1.14%		1.19%		1.35%


CPR								22.41%		14.57%		15.01%		17.95%
3 Months Avg CPR								17.78%		12.86%		13.35%		15.02%
12 Months Avg CPR								17.78%		12.86%		13.35%		15.02%
Avg CPR Since Cut-off								17.78%		12.86%		13.35%		15.02%


PSA								3,384.18%		2,243.34%		2,291.25%		2,735.00%
3 Months Avg PSA Approximation								3,152.41%		2,334.65%		2,402.52%		2,694.09%
12 Months Avg PSA Approximation								3,152.41%		2,334.65%		2,402.52%		2,694.09%
Avg PSA Since Cut-off Approximation								3,152.41%		2,334.65%		2,402.52%		2,694.09%










Page 18 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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

90972183 2			158,650.00		157,677.50			01-Jun-2005		6.750%		IL - 95.00%		Paid Off - 360		01-Nov-2004


91340869 2			157,500.00		156,789.51			12-May-2005		8.300%		MN - 78.16%		Paid Off - 360		01-Nov-2004

91858324 2			87,299.00		86,946.88			01-Jun-2005		8.850%		NE - 90.00%		Paid Off - 360		01-Nov-2004

91952481 2			309,000.00		307,213.12			07-Jun-2005		7.050%		CA - 88.29%		Paid Off - 360		01-Nov-2004

92713262 2			262,500.00		261,186.20			26-May-2005		7.800%		MD - 70.95%		Paid Off - 360		01-Nov-2004

93649523 3			107,000.00		106,536.49			01-Jun-2005		8.500%		ME - 69.48%		Paid Off - 360		01-Nov-2004

94287323 2			131,750.00		130,763.47			19-May-2005		8.990%		HI - 85.00%		Paid Off - 360		01-Dec-2004

94889805 3			60,000.00		59,809.93			16-May-2005		8.350%		FL - 59.89%		Paid Off - 360		01-Jan-2005

96497623 3			660,000.00		657,013.16			13-May-2005		6.550%		CT - 84.62%		Paid Off - 360		01-Jan-2005

96736848 3			343,000.00		341,262.77			16-May-2005		6.150%		CA - 85.75%		Paid Off - 360		01-Jan-2005

97357081 1			270,000.00		269,044.36			19-May-2005		7.800%		NY - 75.00%		Paid Off - 360		01-Jan-2005

97865141 3			486,000.00		483,821.72			19-May-2005		6.600%		CA - 90.00%		Paid Off - 360		01-Jan-2005

97878060 2			195,000.00		194,455.14			11-May-2005		7.850%		MI - 72.22%		Paid Off - 360		01-Feb-2005

97924120 3			469,500.00		468,265.24			20-May-2005		8.150%		NJ - 72.23%		Paid Off - 360		01-Feb-2005

98225287 1			134,000.00		133,487.40			08-Jun-2005		6.250%		CA - 84.77%		Paid Off - 360		01-Feb-2005

98251929 3			126,000.00		125,654.23			06-Jun-2005		9.050%		MD - 87.81%		Paid Off - 360		01-Jan-2005

98414022 1			133,787.00		133,258.79			01-Jun-2005		7.250%		MD - 89.89%		Paid Off - 360		01-Jan-2005

98688864 1			197,200.00		196,732.41			31-May-2005		9.750%		NC - 85.00%		Paid Off - 360		01-Jan-2005

98719867 3			95,000.00		94,535.18			06-Jun-2005		6.990%		CO - 54.60%		Paid Off - 360		01-Jan-2005

98752306 3			360,000.00		358,504.28			11-May-2005		6.990%		CA - 89.24%		Paid Off - 360		01-Jan-2005

98898885 3			452,000.00		450,667.01			13-May-2005		8.700%		CA - 80.00%		Paid Off - 360		01-Jan-2005

98975287 3			322,110.00		320,187.64			01-Jun-2005		7.900%		CA - 88.96%		Paid Off - 360		01-Jan-2005

99150468 1			237,000.00		236,192.54			19-May-2005		7.990%		CA - 77.71%		Paid Off - 360		01-Jan-2005

99228025 1			230,000.00		229,264.00			17-May-2005		8.300%		CA - 82.00%		Paid Off - 360		01-Jan-2005

99334344 3			577,000.00		575,870.15			26-May-2005		10.650%		CA - 88.77%		Paid Off - 360		01-Jan-2005

99457863 3			259,250.00		258,660.67			10-Jun-2005		9.950%		MD - 85.00%		Paid Off - 360		01-Jan-2005

99590564 3			205,000.00		203,006.84			25-May-2005		6.990%		CA - 82.00%		Paid Off - 240		01-Jan-2005

99758765 1			65,000.00		64,888.35			07-Jun-2005		10.200%		WI - 65.00%		Paid Off - 360		01-Feb-2005

99833543 3			150,500.00		150,037.61			03-Jun-2005		8.500%		WI - 70.00%		Paid Off - 360		01-Jan-2005

100100502 3			387,000.00		385,924.85			27-May-2005		8.990%		CA - 90.00%		Paid Off - 360		01-Jan-2005

100232149 1			357,500.00		351,808.47			20-May-2005		7.050%		MD - 60.59%		Paid Off - 180		01-Jan-2005

100361427 2			200,000.00		199,557.14			01-Jun-2005		8.990%		MA - 51.28%		Paid Off - 360		01-Feb-2005

100410760 1			166,500.00		165,802.77			26-May-2005		6.950%		WA - 90.00%		Paid Off - 360		01-Jan-2005

100701242 3			105,000.00		104,667.38			25-May-2005		8.350%		CA - 60.00%		Paid Off - 360		01-Jan-2005

100825983 3			116,000.00		115,694.62			01-Jun-2005		9.250%		IL - 74.84%		Paid Off - 360		01-Jan-2005

100957646 3			589,500.00		588,171.36			16-May-2005		9.990%		NY - 90.00%		Paid Off - 360		01-Jan-2005

100964865 1			83,000.00		82,688.14			01-Jun-2005		7.500%		NJ - 27.55%		Paid Off - 360		01-Jan-2005




Page 20 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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

101492585 3			360,000.00		359,053.21			09-Jun-2005		8.150%		CA - 59.80%		Paid Off - 360		01-Feb-2005


101734069 2			166,500.00		166,015.74			31-May-2005		7.650%		MI - 90.00%		Paid Off - 360		01-Feb-2005

102129384 2			100,000.00		99,685.11			06-Jun-2005		7.250%		CA - 14.60%		Paid Off - 360		01-Feb-2005

102155108 2			78,200.00		78,065.70			26-May-2005		10.200%		IA - 85.00%		Paid Off - 360		01-Feb-2005

102257185 3			127,500.00		127,162.06			02-Jun-2005		9.500%		IA - 75.00%		Paid Off - 360		01-Feb-2005

102264447 3			400,000.00		398,913.42			23-May-2005		7.990%		CA - 84.21%		Paid Off - 360		01-Feb-2005

102536646 1			259,500.00		258,666.58			19-May-2005		7.150%		ME - 75.66%		Paid Off - 360		01-Feb-2005

102698263 2			303,000.00		301,782.03			03-Jun-2005		5.990%		CA - 65.98%		Paid Off - 360		01-Feb-2005

102731841 3			577,000.00		574,727.47			09-Jun-2005		6.300%		CA - 82.43%		Paid Off - 360		01-Feb-2005

102765724 3			62,000.00		61,804.77			13-May-2005		7.250%		FL - 86.72%		Paid Off - 360		01-Feb-2005

103393880 1			120,200.00		119,762.55			08-Jun-2005		7.600%		IA - 66.78%		Paid Off - 360		01-Feb-2005

103558425 3			145,000.00		144,662.61			16-May-2005		8.750%		FL - 64.44%		Paid Off - 360		01-Feb-2005

103619425 2			206,500.00		205,761.57			02-Jun-2005		6.600%		CA - 56.93%		Paid Off - 360		01-Feb-2005

104044706 1			116,900.00		116,608.00			23-May-2005		6.950%		OH - 86.59%		Paid Off - 360		01-Mar-2005

104261045 2			204,000.00		203,291.45			01-Jun-2005		6.750%		CA - 85.00%		Paid Off - 360		01-Feb-2005

104446109 3			165,000.00		164,822.59			09-Jun-2005		12.350%		CT - 75.00%		Paid Off - 360		01-Feb-2005

105232649 3			97,369.00		97,181.42			31-May-2005		8.250%		CA - 38.95%		Paid Off - 360		01-Mar-2005

105686307 3			129,000.00		128,725.07			31-May-2005		7.750%		CA - 38.51%		Paid Off - 360		01-Mar-2005

105996342 3			148,750.00		148,499.26			11-May-2005		8.900%		OH - 85.00%		Paid Off - 360		01-Mar-2005

106009988 3			138,500.00		138,349.70			31-May-2005		9.050%		IL - 60.48%		Paid Off - 360		01-Apr-2005

106033624 2			280,000.00		279,587.24			06-Jun-2005		7.550%		CA - 66.67%		Paid Off - 360		01-Apr-2005

106218407 1			152,700.00		152,402.84			18-May-2005		8.200%		ME - 40.72%		Paid Off - 360		01-Mar-2005

106283880 1			105,000.00		104,812.62			24-May-2005		8.650%		MD - 60.00%		Paid Off - 360		01-Mar-2005

106626500 2			68,850.00		68,800.56			01-Jun-2005		10.990%		NC - 85.00%		Paid Off - 360		01-Apr-2005

106827983 2			145,000.00		144,744.68			02-Jun-2005		6.650%		ME - 57.77%		Paid Off - 360		01-Apr-2005

106903321 1			300,000.00		299,591.95			08-Jun-2005		7.950%		WA - 75.00%		Paid Off - 360		01-Apr-2005

107011124 1			170,000.00		169,739.18			09-Jun-2005		7.350%		PA - 85.00%		Paid Off - 360		01-Apr-2005

107089005 3			135,000.00		134,825.47			17-May-2005		8.200%		NV - 60.00%		Paid Off - 360		01-Apr-2005

107106460 1			193,500.00		193,217.59			13-May-2005		7.600%		AZ - 90.00%		Paid Off - 360		01-Apr-2005

107120123 3			514,250.00		514,097.88			25-May-2005		11.850%		CA - 85.00%		Paid Off - 360		01-May-2005

107396723 1			105,000.00		104,942.85			16-May-2005		12.250%		TX - 71.92%		Paid Off - 360		01-Apr-2005

107414245 3			74,328.00		74,268.00			06-Jun-2005		10.450%		SC - 55.06%		Paid Off - 360		01-Apr-2005

107493546 2			168,000.00		167,773.33			11-May-2005		7.990%		GA - 78.14%		Paid Off - 360		01-Apr-2005

107526261 3			157,250.00		156,990.93			19-May-2005		6.990%		FL - 85.00%		Paid Off - 360		01-Apr-2005

107872905 2			201,503.00		201,141.22			27-May-2005		6.550%		GA - 89.56%		Paid Off - 360		01-Apr-2005

107882441 3			112,400.00		112,239.21			08-Jun-2005		7.700%		CA - 80.00%		Paid Off - 360		01-Apr-2005

107883324 1			170,100.00		169,785.58			26-May-2005		6.400%		AZ - 90.00%		Paid Off - 360		01-Apr-2005

107899742 1			87,500.00		87,363.06			11-May-2005		7.250%		IL - 51.47%		Paid Off - 360		01-Apr-2005




Page 21 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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

107967903 3			202,000.00		201,744.11			17-May-2005		8.300%		MD - 77.69%		Paid Off - 360		01-Apr-2005


108030305 3			532,175.00		531,817.19			13-May-2005		7.990%		CA - 85.84%		Paid Off - 360		01-May-2005

108103003 3			547,000.00		546,201.68			09-Jun-2005		7.600%		CT - 74.93%		Paid Off - 360		01-Apr-2005

108134909 3			172,500.00		172,345.94			30-May-2005		9.990%		CA - 75.00%		Paid Off - 360		01-Apr-2005

108160029 1			78,000.00		77,880.33			01-Jun-2005		7.350%		DE - 74.29%		Paid Off - 360		01-Apr-2005

108326828 1			256,500.00		256,203.77			25-May-2005		8.750%		WI - 90.00%		Paid Off - 360		01-Apr-2005

108391061 3			250,000.00		249,604.86			24-May-2005		7.200%		CA - 68.87%		Paid Off - 360		01-Apr-2005

108410929 1			301,750.00		301,418.42			24-May-2005		8.990%		RI - 85.00%		Paid Off - 360		01-Apr-2005

108458787 1			144,000.00		143,765.86			31-May-2005		7.150%		NJ - 90.00%		Paid Off - 360		01-Apr-2005

108481888 3			162,500.00		162,319.95			24-May-2005		8.950%		MI - 65.00%		Paid Off - 360		01-Apr-2005

108485525 2			191,200.00		190,897.80			26-May-2005		7.200%		WI - 82.06%		Paid Off - 360		01-Apr-2005

108516303 3			189,000.00		188,724.15			08-Jun-2005		7.600%		PA - 74.12%		Paid Off - 360		01-Apr-2005

108518986 2			153,039.00		152,817.86			09-Jun-2005		7.650%		MO - 86.95%		Paid Off - 360		01-Apr-2005

108678889 2			227,500.00		227,143.97			31-May-2005		7.250%		CT - 84.84%		Paid Off - 360		01-Apr-2005

108693607 1			78,000.00		77,897.07			16-May-2005		8.100%		MN - 70.91%		Paid Off - 360		01-Apr-2005

108740804 2			270,500.00		269,928.58			16-May-2005		6.300%		NJ - 81.97%		Paid Off - 360		01-Apr-2005

108741745 3			381,000.00		380,485.96			02-Jun-2005		7.990%		CA - 58.62%		Paid Off - 360		01-Apr-2005

108869629 3			277,500.00		277,086.81			13-May-2005		7.500%		AZ - 81.14%		Paid Off - 360		01-Apr-2005

108874025 3			102,400.00		102,285.35			16-May-2005		8.900%		PA - 80.00%		Paid Off - 360		01-Apr-2005

108891565 2			97,113.00		97,057.02			12-May-2005		11.990%		CO - 52.49%		Paid Off - 360		01-Apr-2005

109011767 1			252,000.00		251,584.83			19-May-2005		6.990%		CA - 90.00%		Paid Off - 360		01-Apr-2005

109026880 2			129,482.00		129,324.55			24-May-2005		8.500%		IL - 74.42%		Paid Off - 360		01-Apr-2005

109084327 2			270,000.00		269,460.04			06-Jun-2005		5.990%		CA - 67.50%		Paid Off - 360		01-Apr-2005

109138347 3			374,000.00		373,454.17			01-Jun-2005		7.600%		MD - 85.00%		Paid Off - 360		01-Apr-2005

109179564 3			84,000.00		83,895.74			16-May-2005		8.400%		MI - 75.00%		Paid Off - 360		01-Apr-2005

109234724 1			146,700.00		146,559.60			11-May-2005		9.650%		IL - 90.00%		Paid Off - 360		01-Apr-2005

109255463 2			100,300.00		100,109.36			31-May-2005		6.400%		IL - 85.00%		Paid Off - 360		01-Apr-2005

109435644 3			108,000.00		107,957.99			01-Jun-2005		10.600%		NC - 84.38%		Paid Off - 360		01-May-2005

109447904 3			191,250.00		191,055.06			31-May-2005		9.350%		NJ - 75.00%		Paid Off - 360		01-Apr-2005

109477067 3			160,000.00		159,749.60			03-Jun-2005		7.250%		PA - 55.94%		Paid Off - 360		01-Apr-2005

109552323 2			268,500.00		268,176.86			16-May-2005		8.550%		CA - 82.62%		Paid Off - 360		01-Apr-2005

109575183 1			85,000.00		84,916.05			12-May-2005		9.500%		WI - 70.83%		Paid Off - 360		01-Apr-2005

109609420 1			113,000.00		112,801.01			16-May-2005		6.650%		FL - 68.94%		Paid Off - 360		01-Apr-2005

109616144 1			400,000.00		399,341.03			18-May-2005		6.990%		NJ - 84.21%		Paid Off - 360		01-Apr-2005

109637967 3			296,000.00		295,493.83			13-May-2005		6.800%		MN - 80.00%		Paid Off - 360		01-Apr-2005

109685081 3			420,750.00		420,117.24			24-May-2005		7.450%		CA - 85.00%		Paid Off - 360		01-Apr-2005

109703645 1			81,000.00		80,896.34			01-Jun-2005		8.250%		MD - 85.26%		Paid Off - 360		01-Apr-2005

109736686 2			189,000.00		188,813.32			23-May-2005		9.500%		ME - 90.00%		Paid Off - 360		01-Apr-2005




Page 22 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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

109754887 3			152,250.00		151,999.11			10-Jun-2005		6.990%		ME - 86.02%		Paid Off - 360		01-Apr-2005


109780288 3			252,000.00		251,581.57			01-Jun-2005		6.950%		MD - 79.25%		Paid Off - 360		01-Apr-2005

109800821 2			96,200.00		96,134.01			01-Jun-2005		11.200%		WI - 82.93%		Paid Off - 360		01-Apr-2005

109809442 2			82,412.00		82,308.55			07-Jun-2005		8.350%		MI - 65.93%		Paid Off - 360		01-Apr-2005

109818286 1			125,967.00		125,708.27			18-May-2005		5.850%		AZ - 62.48%		Paid Off - 360		01-Apr-2005

109850206 2			149,000.00		148,782.53			01-Jun-2005		7.600%		IL - 42.44%		Paid Off - 360		01-Apr-2005

109899864 2			107,900.00		107,785.34			31-May-2005		9.250%		OH - 65.00%		Paid Off - 360		01-Apr-2005

109900605 1			144,487.00		144,357.24			30-May-2005		9.950%		NY - 56.66%		Paid Off - 360		01-Apr-2005

109967463 1			180,150.00		179,823.38			07-Jun-2005		6.500%		NH - 52.99%		Paid Off - 360		01-Apr-2005

110027620 1			221,190.00		221,037.00			13-May-2005		7.850%		VT - 73.73%		Paid Off - 360		01-May-2005

110066008 2			129,900.00		129,798.66			23-May-2005		7.250%		MD - 80.77%		Paid Off - 360		01-May-2005

110076601 2			144,000.00		143,870.07			03-Jun-2005		9.950%		IL - 90.00%		Paid Off - 360		01-Apr-2005

110103249 1			75,000.00		74,657.95			02-Jun-2005		9.550%		OK - 75.00%		Paid Off - 360		01-Apr-2005

110150307 2			91,536.00		91,435.40			07-Jun-2005		8.990%		MN - 54.81%		Paid Off - 360		01-Apr-2005

110303088 3			580,770.00		580,487.33			24-May-2005		9.550%		MA - 90.00%		Paid Off - 360		01-May-2005

110412343 2			146,030.00		145,036.03			08-Jun-2005		11.150%		FL - 85.40%		Paid Off - 360		01-Apr-2005

110462108 1			100,000.00		99,921.86			16-May-2005		10.600%		NJ - 52.63%		Paid Off - 360		01-Apr-2005

110483146 1			203,000.00		202,682.32			23-May-2005		7.250%		CA - 72.50%		Paid Off - 360		01-Apr-2005

110515707 3			206,000.00		205,808.27			12-May-2005		6.350%		CA - 28.41%		Paid Off - 360		01-May-2005

110528304 1			283,500.00		283,117.51			23-May-2005		7.990%		NJ - 90.00%		Paid Off - 360		01-Apr-2005

110625183 2			239,500.00		239,094.44			12-May-2005		6.850%		CA - 68.43%		Paid Off - 360		01-Apr-2005

110682929 1			233,750.00		233,493.14			26-May-2005		8.990%		CA - 85.00%		Paid Off - 360		01-Apr-2005

110749900 2			117,000.00		116,886.85			27-May-2005		9.600%		NY - 90.00%		Paid Off - 360		01-Apr-2005

110773447 2			135,000.00		134,851.66			03-Jun-2005		8.990%		MI - 75.00%		Paid Off - 360		01-Apr-2005

110775046 2			89,250.00		89,025.07			25-May-2005		9.250%		FL - 85.00%		Paid Off - 360		01-Apr-2005

110817665 1			63,000.00		62,981.93			09-Jun-2005		11.990%		NC - 75.00%		Paid Off - 360		01-May-2005

110873569 3			449,596.00		449,020.63			06-Jun-2005		8.250%		CA - 80.00%		Paid Off - 360		01-Apr-2005

110890621 1			101,250.00		101,129.38			07-Jun-2005		8.600%		MI - 75.00%		Paid Off - 360		01-Apr-2005

110948049 1			236,250.00		236,033.29			16-May-2005		9.850%		CA - 75.00%		Paid Off - 360		01-Apr-2005

110954864 2			213,350.00		212,977.95			30-May-2005		6.700%		CT - 79.61%		Paid Off - 360		01-Apr-2005

111017109 2			250,500.00		250,166.12			06-Jun-2005		8.050%		NV - 80.81%		Paid Off - 360		01-Apr-2005

111154969 3			88,857.00		88,716.54			17-May-2005		7.200%		CA - 74.05%		Paid Off - 360		01-Apr-2005

111194163 2			158,000.00		157,867.91			09-Jun-2005		6.900%		CA - 56.55%		Paid Off - 360		01-May-2005

111268421 3			93,297.00		93,211.00			08-Jun-2005		6.400%		FL - 79.74%		Paid Off - 360		01-May-2005

111558128 3			123,000.00		122,901.15			17-May-2005		7.100%		NH - 79.36%		Paid Off - 360		01-May-2005

111670527 3			565,000.00		564,744.67			16-May-2005		9.900%		CA - 86.92%		Paid Off - 360		01-May-2005

113226385 1			159,800.00		159,723.04			16-May-2005		9.600%		MD - 85.00%		Paid Off - 360		01-May-2005

114373129 1			123,100.00		123,044.95			27-May-2005		9.950%		WI - 84.90%		Paid Off - 360		01-May-2005




Page 23 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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

106858228 3			140,000.00		139,786.67			03-Jun-2005		7.400%		NJ - 80.00%		Repur/Subs - 360		01-Apr-2005


109393868 3			210,000.00		209,767.32			09-Jun-2005		8.950%		CA - 70.00%		Repur/Subs - 360		01-Apr-2005

111446225 2			205,000.00		204,849.37			24-May-2005		7.550%		CA - 44.09%		Repur/Subs - 360		01-May-2005

112607148 3			197,000.00		196,849.35			24-May-2005		7.350%		CA - 71.64%		Repur/Subs - 360		01-May-2005



TOTAL			32,236,297.00		32,160,699.95



Page 24 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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 25 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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 26 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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 27 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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 28 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 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								1,335,617.21
						Delinquency Percentage								0.0687%
						Balance of Mezzanine and C Class								250,000,000.05
						Ending Pool Balance								1,943,287,524.58
						Credit Enhancement Percentage (Current Period)								12.8648%
						Credit Enhancement Percentage (Prior Period)								12.6440%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

								Group 3		Group 2		Group 1		Total
Current LIBOR Rate														3.090000%
Next LIBOR Rate														0.000000%




Page 29 of 30
Ameriquest Mortgage Securities, Inc. 2005-R3

Mortgage Pass-Through Certificates

2005-R3

June 27, 2005 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT


CLASS







Page 30 of 30

Ameriquest Mortgage Securities Inc. Series 2005-R3 8-K