
                                     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):  August 25, 2005
                           (Date of earliest event reported)

               Financial Asset Securities Corp. (as Depositor under the
               Pooling and Servicing Agreement, dated as January 1, 2005,
               providing for the issuance of Meritage Mortgage Loan Trust
              2005-1, Asset-Backed Pass-Through Certificates, Series 2005-1)
                 (Exact name of registrant as specified in charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-121661-02                          06-1442101
          (Commission File Number)        (I.R.S. Employer Identification No.)


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


          Registrant's Telephone Number, Including Area Code:  (203) 625-2700


       (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):

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

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

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

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


     Item 8.01  Other Events

     Attached hereto is a copy of the Monthly Remittance Statements to the
     Certificateholders which was derived from the monthly information
     submitted by the Master Servicer of the Trust to the Trustee.


     Item 9.01 Financial Statements and Exhibits

     (c) Exhibits:

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     August 25, 2005.

                                    Signatures

               Pursuant to the requirements of the Securities Exchange Act of
          1934, the Registrant has duly caused this report to be signed on its
          behalf by the undersigned, hereunto duly authorized.

                                  Deutsche Bank National Trust Company,
                                  in its capacity as Trustee under the
                                  Pooling and Servicing Agreement on
                                  behalf of Financial Asset Securities
                                  Corp., Registrant


          Date:  Aug 26, 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 August 25, 2005.



Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller
										1. Certificate Payment Report					2
				Greenwich Capital Financial Products, In
										2. Collection Account Report					6

										3. Credit Enhancement Report					8
										4. Collateral Report					9
				Certificate Insurer(s)						5. Delinquency Report					12

										6. REO Report					15

										7. Foreclosure Report					16
										8. Prepayment Report					18
										9. Prepayment Detail Report					21

										10. Realized Loss Report					25
										11. Realized Loss Detail Report					28
				Servicer(s)
										12. Triggers and Adj. Cert. Report					29
				Saxon Mortgage Services, Inc.
										13. Additional Certificate Report					30



				Underwriter(s)
				Greenwich Capital Markets


										Total Number of Pages					30


				Dates						Contacts

				Cut-Off Date:			January 01, 2005			Eiko Akiyama
				Close Date:			January 28, 2005			Administrator
				First Distribution Date:			February 25, 2005			(714) 247-6328

										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92514
				Distribution Date:			August 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			July 29, 2005
										Main Phone Number:			(714) 247-6000

							August 24, 2005


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






Page 1 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution - REMIC III
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal

Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance


					(1)		(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)

I-A1	FLT/STEP	$	240,000,000.00		222,524,355.61		708,987.32		9,153,681.52		9,862,668.84		0.00		0.00		213,370,674.09

I-A2	FLT/STEP	$	60,000,000.00		55,631,088.91		180,600.15		2,288,420.38		2,469,020.53		0.00		0.00		53,342,668.53
II-A1	FLT/STEP	$	79,700,000.00		55,260,372.69		170,831.30		8,138,962.00		8,309,793.30		0.00		0.00		47,121,410.69
II-A2	FLT/STEP	$	120,000,000.00		120,000,000.00		385,433.33		0.00		385,433.33		0.00		0.00		120,000,000.00
II-A3	FLT/STEP	$	18,880,000.00		18,880,000.00		62,429.87		0.00		62,429.87		0.00		0.00		18,880,000.00
M-1	FLT/STEP	$	23,785,000.00		23,785,000.00		80,492.40		0.00		80,492.40		0.00		0.00		23,785,000.00
M-2	FLT/STEP	$	21,775,000.00		21,775,000.00		74,252.75		0.00		74,252.75		0.00		0.00		21,775,000.00
M-3	FLT/STEP	$	13,065,000.00		13,065,000.00		44,889.16		0.00		44,889.16		0.00		0.00		13,065,000.00
M-4	FLT/STEP	$	11,725,000.00		11,725,000.00		42,506.38		0.00		42,506.38		0.00		0.00		11,725,000.00
M-5	FLT/STEP	$	11,725,000.00		11,725,000.00		42,809.28		0.00		42,809.28		0.00		0.00		11,725,000.00
M-6	FLT/STEP	$	11,390,000.00		11,390,000.00		41,978.48		0.00		41,978.48		0.00		0.00		11,390,000.00
M-7	FLT/STEP	$	10,720,000.00		10,720,000.00		43,478.53		0.00		43,478.53		0.00		0.00		10,720,000.00
M-8	FLT/STEP	$	8,040,000.00		8,040,000.00		33,647.40		0.00		33,647.40		0.00		0.00		8,040,000.00
M-9	FLT/STEP	$	8,375,000.00		8,375,000.00		41,179.41		0.00		41,179.41		0.00		0.00		8,375,000.00
M-10	FLT/STEP	$	6,700,000.00		6,700,000.00		37,270.61		0.00		37,270.61		0.00		0.00		6,700,000.00
M-11	FLT/STEP	$	7,370,000.00		7,370,000.00		40,997.67		0.00		40,997.67		0.00		0.00		7,370,000.00
B-1	FLT/STEP	$	7,035,000.00		7,035,000.00		40,648.62		0.00		40,648.62		0.00		0.00		7,035,000.00
B-2	FLT/STEP	$	5,025,000.00		5,025,000.00		29,034.73		0.00		29,034.73		0.00		0.00		5,025,000.00
C	EXE	$	4,689,900.00		4,690,000.00		1,663,162.62		0.00		1,663,162.62		0.00		0.00		4,690,000.00
P	EXE/FIX	$	100.00		100.00		374,408.79		0.00		374,408.79		0.00		0.00		100.00
R	EXE	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
R-X	EXE	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			670,000,000.00		623,715,917.21		4,139,038.80		19,581,063.90		23,720,102.70		0.00		0.00		604,134,853.31






Page 2 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
									Orig. Principal		Prior							Current

	Period		Period						(with Notional)		Principal						Total	Principal

Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
I-A1	07/25/05		08/24/05		A-Act/360		59001FBS9		240,000,000.00		927.184815		2.954114		38.140340		41.094454	889.044475
I-A2	07/25/05		08/24/05		A-Act/360		59001FBT7		60,000,000.00		927.184815		3.010003		38.140340		41.150342	889.044476
II-A1	07/25/05		08/24/05		A-Act/360		59001FBU4		79,700,000.00		693.354739		2.143429		102.119975		104.263404	591.234764
II-A2	07/25/05		08/24/05		A-Act/360		59001FBV2		120,000,000.00		1,000.000000		3.211944		0.000000		3.211944	1,000.000000
II-A3	07/25/05		08/24/05		A-Act/360		59001FBW0		18,880,000.00		1,000.000000		3.306667		0.000000		3.306667	1,000.000000
M-1	07/25/05		08/24/05		A-Act/360		59001FBX8		23,785,000.00		1,000.000000		3.384166		0.000000		3.384166	1,000.000000
M-2	07/25/05		08/24/05		A-Act/360		59001FBY6		21,775,000.00		1,000.000000		3.410000		0.000000		3.410000	1,000.000000
M-3	07/25/05		08/24/05		A-Act/360		59001FBZ3		13,065,000.00		1,000.000000		3.435833		0.000000		3.435833	1,000.000000
M-4	07/25/05		08/24/05		A-Act/360		59001FCA7		11,725,000.00		1,000.000000		3.625278		0.000000		3.625278	1,000.000000
M-5	07/25/05		08/24/05		A-Act/360		59001FCB5		11,725,000.00		1,000.000000		3.651111		0.000000		3.651111	1,000.000000
M-6	07/25/05		08/24/05		A-Act/360		59001FCC3		11,390,000.00		1,000.000000		3.685556		0.000000		3.685556	1,000.000000
M-7	07/25/05		08/24/05		A-Act/360		59001FCD1		10,720,000.00		1,000.000000		4.055833		0.000000		4.055833	1,000.000000
M-8	07/25/05		08/24/05		A-Act/360		59001FCE9		8,040,000.00		1,000.000000		4.185000		0.000000		4.185000	1,000.000000
M-9	07/25/05		08/24/05		A-Act/360		59001FCF6		8,375,000.00		1,000.000000		4.916944		0.000000		4.916944	1,000.000000
M-10	07/25/05		08/24/05		A-Act/360		59001FCG4		6,700,000.00		1,000.000000		5.562778		0.000000		5.562778	1,000.000000
M-11	07/25/05		08/24/05		A-Act/360		59001FCH2		7,370,000.00		1,000.000000		5.562777		0.000000		5.562777	1,000.000000
B-1	07/25/05		08/24/05		A-Act/360		59001FCJ8		7,035,000.00		1,000.000000		5.778055		0.000000		5.778055	1,000.000000
B-2	07/25/05		08/24/05		A-Act/360		59001FCK5		5,025,000.00		1,000.000000		5.778056		0.000000		5.778056	1,000.000000
C	07/25/05		08/24/05		A-30/360				4,689,900.00		1,000.021322		354.626457		0.000000		354.626457	1,000.021322
P	07/25/05		08/24/05		A-30/360				100.00		1,000.000000		3,744,087.900000		0.000000		3,744,087.900000	1,000.000000
R	07/25/05		08/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000
R-X	07/25/05		08/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 3 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

Distribution to Date - REMIC III
																	Current


	Original				Unscheduled		Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal		Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)		(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
I-A1	240,000,000.00		4,387,109.88		25,994,844.95		634,480.96		26,629,325.91		31,016,435.80		0.00		0.00		213,370,674.09
I-A2	60,000,000.00		1,120,535.32		6,498,711.23		158,620.24		6,657,331.47		7,777,866.79		0.00		0.00		53,342,668.53
II-A1	79,700,000.00		1,256,129.60		31,746,806.21		831,783.10		32,578,589.31		33,834,718.92		0.00		0.00		47,121,410.69
II-A2	120,000,000.00		2,277,525.46		0.00		0.00		0.00		2,277,525.46		0.00		0.00		120,000,000.00
II-A3	18,880,000.00		370,387.65		0.00		0.00		0.00		370,387.65		0.00		0.00		18,880,000.00
M-1	23,785,000.00		479,041.55		0.00		0.00		0.00		479,041.55		0.00		0.00		23,785,000.00
M-2	21,775,000.00		442,351.65		0.00		0.00		0.00		442,351.65		0.00		0.00		21,775,000.00
M-3	13,065,000.00		267,686.49		0.00		0.00		0.00		267,686.49		0.00		0.00		13,065,000.00
M-4	11,725,000.00		255,206.88		0.00		0.00		0.00		255,206.88		0.00		0.00		11,725,000.00
M-5	11,725,000.00		257,249.00		0.00		0.00		0.00		257,249.00		0.00		0.00		11,725,000.00
M-6	11,390,000.00		252,544.02		0.00		0.00		0.00		252,544.02		0.00		0.00		11,390,000.00
M-7	10,720,000.00		264,449.78		0.00		0.00		0.00		264,449.78		0.00		0.00		10,720,000.00
M-8	8,040,000.00		205,338.84		0.00		0.00		0.00		205,338.84		0.00		0.00		8,040,000.00
M-9	8,375,000.00		255,222.93		0.00		0.00		0.00		255,222.93		0.00		0.00		8,375,000.00
M-10	6,700,000.00		233,351.26		0.00		0.00		0.00		233,351.26		0.00		0.00		6,700,000.00
M-11	7,370,000.00		256,686.39		0.00		0.00		0.00		256,686.39		0.00		0.00		7,370,000.00
B-1	7,035,000.00		255,229.34		0.00		0.00		0.00		255,229.34		0.00		0.00		7,035,000.00
B-2	5,025,000.00		182,306.69		0.00		0.00		0.00		182,306.69		0.00		0.00		5,025,000.00
C	4,689,900.00		11,562,702.71		-73.71		-26.29		0.00		11,562,702.71		0.00		-4,996.72		4,690,000.00
P	100.00		1,243,235.27		0.00		0.00		0.00		1,243,235.27		0.00		0.00		100.00
R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
R-X	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total	670,000,000.00		25,824,290.71		64,240,288.68		1,624,858.01		65,865,246.69		91,689,537.42		0.00		-4,996.72		604,134,853.31



Page 4 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

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


	Through		(with Notional)		Accrued		Supported		Unpaid		Interest		Optimal		Deferred		Unpaid

Class	Rate		Balance		Interest		Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
I-A1	3.70000%		222,524,355.61		708,987.32		0.00		0.00		0.00		708,987.32		708,987.32		0.00
I-A2	3.77000%		55,631,088.91		180,600.15		0.00		0.00		0.00		180,600.15		180,600.15		0.00
II-A1	3.59000%		55,260,372.69		170,831.30		0.00		0.00		0.00		170,831.30		170,831.30		0.00
II-A2	3.73000%		120,000,000.00		385,433.33		0.00		0.00		0.00		385,433.33		385,433.33		0.00
II-A3	3.84000%		18,880,000.00		62,429.87		0.00		0.00		0.00		62,429.87		62,429.87		0.00
M-1	3.93000%		23,785,000.00		80,492.40		0.00		0.00		0.00		80,492.40		80,492.40		0.00
M-2	3.96000%		21,775,000.00		74,252.75		0.00		0.00		0.00		74,252.75		74,252.75		0.00
M-3	3.99000%		13,065,000.00		44,889.16		0.00		0.00		0.00		44,889.16		44,889.16		0.00
M-4	4.21000%		11,725,000.00		42,506.38		0.00		0.00		0.00		42,506.38		42,506.38		0.00
M-5	4.24000%		11,725,000.00		42,809.28		0.00		0.00		0.00		42,809.28		42,809.28		0.00
M-6	4.28000%		11,390,000.00		41,978.48		0.00		0.00		0.00		41,978.48		41,978.48		0.00
M-7	4.71000%		10,720,000.00		43,478.53		0.00		0.00		0.00		43,478.53		43,478.53		0.00
M-8	4.86000%		8,040,000.00		33,647.40		0.00		0.00		0.00		33,647.40		33,647.40		0.00
M-9	5.71000%		8,375,000.00		41,179.41		0.00		0.00		0.00		41,179.41		41,179.41		0.00
M-10	6.46000%		6,700,000.00		37,270.61		0.00		0.00		0.00		37,270.61		37,270.61		0.00
M-11	6.46000%		7,370,000.00		40,997.67		0.00		0.00		0.00		40,997.67		40,997.67		0.00
B-1	6.71000%		7,035,000.00		40,648.62		0.00		0.00		0.00		40,648.62		40,648.62		0.00
B-2	6.71000%		5,025,000.00		29,034.73		0.00		0.00		0.00		29,034.73		29,034.73		0.00
C	425.54267%		4,690,000.00		1,663,532.56		369.94		0.00		0.00		1,663,162.62		1,663,162.62		0.00
P	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		374,408.79		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
R-X	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			623,715,917.21		3,764,999.95		369.94		0.00		0.00		3,764,630.01		4,139,038.80		0.00



Page 5 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution
Collection Account Report
SUMMARY

										Group 2		Group 1		Total
Principal Collections										8,138,962.00		11,442,101.90		19,581,063.90
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										8,138,962.00		11,442,101.90		19,581,063.90
Interest Collections										1,659,814.04		2,296,240.17		3,956,054.21
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		374,408.79
Interest Fees										-76,647.95		-114,776.24		-191,424.20
TOTAL NET INTEREST										1,583,166.09		2,181,463.93		4,139,038.80
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										9,722,128.09		13,623,565.83		23,720,102.70



PRINCIPAL - COLLECTIONS

											Group 2		Group 1		Total
Scheduled Principal Received											85,652.33		166,781.11		252,433.44
Curtailments											9,387.15		13,747.31		23,134.46
Prepayments In Full											6,940,588.90		10,359,635.94		17,300,224.84
Repurchased/Substitutions											1,103,333.62		901,937.54		2,005,271.16
Liquidations											0.00		0.00		0.00
Other Additional Principal											0.00		0.00		0.00
Delinquent Principal											-29,306.65		-46,461.27		-75,767.92
Realized Losses											-0.00		-0.00		-0.00
Advanced Principal											29,306.65		46,461.27		75,767.92
TOTAL PRINCIPAL COLLECTED											8,138,962.00		11,442,101.90		19,581,063.90


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS

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





Page 6 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

INTEREST - COLLECTIONS

										Group 2		Group 1		Total
Scheduled Interest										1,682,524.53		2,329,364.45		4,011,888.98
Repurchased/Substitution Interest										8,864.89		6,206.77		15,071.66
Liquidation Interest										0.00		0.00		0.00
Other Additional Interest										0.00		0.00		0.00
Prepayment Interest Shortfalls										-2,618.51		-5,714.13		-8,332.64
Delinquent Interest										-546,667.73		-624,723.48		-1,171,391.21
Compensating Interest										2,618.52		5,714.13		8,332.64
Civil Relief Act Shortfalls										-0.00		-369.94		-369.94
Interest Advanced										515,092.36		585,762.37		1,100,854.73
TOTAL INTEREST COLLECTED										1,659,814.04		2,296,240.17		3,956,054.21


INTEREST - WITHDRAWALS

										Group 2		Group 1		Total
TOTAL INTEREST WITHDRAWALS										0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS

										Group 2		Group 1		Total
Prepayment Charges														374,408.79
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		374,408.79



INTEREST - FEES

										Group 2		Group 1		Total
Current Servicing Fees										75,789.04		113,556.10		189,345.14
Trustee Fees										858.92		1,220.14		2,079.06
TOTAL INTEREST FEES										76,647.95		114,776.24		191,424.20




Page 7 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution
Credit Enhancement Report

ACCOUNTS


Net WAC Rate Carryover Reserve Account

Amount Deposited in the Account						0.00
Begining Balance						0.00
Amount Withdrawn						0.00
Ending Balance						0.00




INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES

										Group 2		Group 1		Total
Overcollateralization Amount														4,690,000.00
Overcollateralization Target Amount														4,690,000.00
Overcollateralization Deficiency Amount														0.00
Overcollateralization Release Amount														0.00



Page 8 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										1,269		2,062		3,331
Prior										1,838		3,217		5,055
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-49		-70		-119
Repurchases										-11		-8		-19
Liquidations										-0		-0		-0
Current										1,778		3,139		4,917
Principal Balance:


Original										174,077,689.56		239,341,392.38		413,419,081.94
Prior										257,674,606.84		366,041,310.37		623,715,917.21
Prefunding										108,038,103.00		148,542,815.06		256,580,918.06
Scheduled Principal										-85,652.33		-166,781.11		-252,433.44
Partial Prepayments										-9,387.15		-13,747.31		-23,134.46
Full Voluntary Prepayments										-6,940,588.90		-10,359,635.94		-17,300,224.84
Repurchases										-1,103,333.62		-901,937.54		-2,005,271.16
Liquidations										-0.00		-0.00		-0.00
Current										249,535,644.84		354,599,208.47		604,134,853.31





PREFUNDING

										Group 2		Group 1		Total
Prefunding Account Original Balance										108,038,103.00		148,542,815.06		256,580,918.06
Prefunding Account Beginning Balance										0.00		0.00		0.00
Subsequent Loans Added to the Pool										0.00		0.00		0.00
Prefund Release to Certificate Holders										0.00		0.00		0.00
Prefunding Account Ending Balance										0.00		0.00		0.00





Page 9 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Coupon Original										7.88870%		7.73510%		7.79978%
Weighted Average Coupon Prior										7.88740%		7.66980%		7.76008%
Weighted Average Coupon Current										7.87686%		7.65675%		7.74768%
Weighted Average Months to Maturity Original										336		339		338
Weighted Average Months to Maturity Prior										334		334		334
Weighted Average Months to Maturity Current										333		333		333
Weighted Avg Remaining Amortization Term Original										336		339		338
Weighted Avg Remaining Amortization Term Prior										334		334		334
Weighted Avg Remaining Amortization Term Current										333		333		333
Weighted Average Seasoning Original										3.51		2.95		3.19
Weighted Average Seasoning Prior										7.48		7.03		7.22
Weighted Average Seasoning Current										8.49		8.02		8.21









Page 10 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

ARM CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Margin Original										6.14661%		5.94341%		6.02861%
Weighted Average Margin Prior										6.34604%		5.94834%		6.11501%
Weighted Average Margin Current										6.33385%		5.94263%		6.10578%
Weighted Average Max Rate Original										14.46358%		14.37908%		14.41451%
Weighted Average Max Rate Prior										14.52819%		14.28202%		14.38519%
Weighted Average Max Rate Current										14.51614%		14.27287%		14.37432%
Weighted Average Min Rate Original										7.46358%		7.37769%		7.41370%
Weighted Average Min Rate Prior										7.52935%		7.28395%		7.38679%
Weighted Average Min Rate Current										7.51734%		7.27575%		7.37650%
Weighted Average Cap Up Original										1.50000%		1.50000%		1.50000%
Weighted Average Cap Up Prior										1.50000%		1.50000%		1.50000%
Weighted Average Cap Up Current										1.50000%		1.50000%		1.50000%
Weighted Average Cap Down Original										1.50000%		1.50000%		1.50000%
Weighted Average Cap Down Prior										1.50000%		1.50000%		1.50000%
Weighted Average Cap Down Current										1.50000%		1.50000%		1.50000%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										75,789.04		113,556.10		189,345.14
Delinquent Servicing Fees										31,575.38		38,961.11		70,536.49
TOTAL SERVICING FEES										107,364.42		152,517.22		259,881.64


Total Servicing Fees										107,364.42		152,517.22		259,881.64
Compensating Interest										-2,618.52		-5,714.13		-8,332.64
Delinquent Servicing Fees										-31,575.38		-38,961.11		-70,536.49
COLLECTED SERVICING FEES										73,170.52		107,841.99		181,012.51


Total Advaced Interest										515,092.36		585,762.37		1,100,854.73
Total Advaced Principal										29,306.65		46,461.27		75,767.92
Aggregate Advances with respect to this Distribution										75,057.81		88,229.18		163,286.99





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)										2,618.51		5,714.13		8,332.64
Compensating Interest										-2,618.52		-5,714.13		-8,332.64
Net Prepayment Interest Shortfall (PPIS)										0.00		0.00		0.00

Weighted Average Net Mortgage Rate														7.964027%

Libor For Current Period														3.460000%

Libor For Next Period														0.000000%



Page 11 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				8,542,164.84		7,172,678.84		6,275,493.81		21,990,337.49
			% Balance				1.41%		1.19%		1.04%		3.64%
			# Loans				79		69		64		212
			% # Loans				1.61%		1.40%		1.30%		4.31%
	FORECLOSURE		Balance		0.00		279,754.33		105,845.90		5,941,919.41		6,327,519.64
			% Balance		0.00%		0.05%		0.02%		0.98%		1.05%
			# Loans		0		2		1		56		59
			% # Loans		0.00%		0.04%		0.02%		1.14%		1.20%
	BANKRUPTCY		Balance		1,650,393.61		0.00		41,518.20		862,038.12		2,553,949.93
			% Balance		0.27%		0.00%		0.01%		0.14%		0.42%
			# Loans		14		0		2		8		24
			% # Loans		0.28%		0.00%		0.04%		0.16%		0.49%
	REO		Balance		0.00		0.00		0.00		269,575.78		269,575.78
			% Balance		0.00%		0.00%		0.00%		0.04%		0.04%
			# Loans		0		0		0		5		5
			% # Loans		0.00%		0.00%		0.00%		0.10%		0.10%
	TOTAL		Balance		1,650,393.61		8,821,919.17		7,320,042.94		13,349,027.12		31,141,382.84
			% Balance		0.27%		1.46%		1.21%		2.21%		5.15%
			# Loans		14		81		72		133		300
			% # Loans		0.28%		1.65%		1.46%		2.70%		6.10%









Page 12 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				4,855,043.14		2,826,590.98		3,002,176.61		10,683,810.73
			% Balance				1.37%		0.80%		0.85%		3.01%
			# Loans				50		28		33		111
			% # Loans				1.59%		0.89%		1.05%		3.54%
	FORECLOSURE		Balance		0.00		144,539.78		105,845.90		2,895,067.06		3,145,452.74
			% Balance		0.00%		0.04%		0.03%		0.82%		0.89%
			# Loans		0		1		1		26		28
			% # Loans		0.00%		0.03%		0.03%		0.83%		0.89%
	BANKRUPTCY		Balance		649,779.04		0.00		41,518.20		425,263.46		1,116,560.70
			% Balance		0.18%		0.00%		0.01%		0.12%		0.31%
			# Loans		8		0		2		4		14
			% # Loans		0.25%		0.00%		0.06%		0.13%		0.45%
	REO		Balance		0.00		0.00		0.00		180,719.11		180,719.11
			% Balance		0.00%		0.00%		0.00%		0.05%		0.05%
			# Loans		0		0		0		3		3
			% # Loans		0.00%		0.00%		0.00%		0.10%		0.10%
	TOTAL		Balance		649,779.04		4,999,582.92		2,973,955.08		6,503,226.24		15,126,543.28
			% Balance		0.18%		1.41%		0.84%		1.83%		4.27%
			# Loans		8		51		31		66		156
			% # Loans		0.25%		1.62%		0.99%		2.10%		4.97%










Page 13 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				3,687,121.70		4,346,087.86		3,273,317.20		11,306,526.76
			% Balance				1.48%		1.74%		1.31%		4.53%
			# Loans				29		41		31		101
			% # Loans				1.63%		2.31%		1.74%		5.68%
	FORECLOSURE		Balance		0.00		135,214.55		0.00		3,046,852.35		3,182,066.90
			% Balance		0.00%		0.05%		0.00%		1.22%		1.28%
			# Loans		0		1		0		30		31
			% # Loans		0.00%		0.06%		0.00%		1.69%		1.74%
	BANKRUPTCY		Balance		1,000,614.57		0.00		0.00		436,774.66		1,437,389.23
			% Balance		0.40%		0.00%		0.00%		0.18%		0.58%
			# Loans		6		0		0		4		10
			% # Loans		0.34%		0.00%		0.00%		0.22%		0.56%
	REO		Balance		0.00		0.00		0.00		88,856.67		88,856.67
			% Balance		0.00%		0.00%		0.00%		0.04%		0.04%
			# Loans		0		0		0		2		2
			% # Loans		0.00%		0.00%		0.00%		0.11%		0.11%
	TOTAL		Balance		1,000,614.57		3,822,336.25		4,346,087.86		6,845,800.88		16,014,839.56
			% Balance		0.40%		1.53%		1.74%		2.74%		6.42%
			# Loans		6		30		41		67		144
			% # Loans		0.34%		1.69%		2.31%		3.77%		8.10%









Page 14 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 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
1000190184 1
			60,000.00		59,746.43		01-Nov-2004		9.875%		MI - 80.00%		360		01-Dec-2004

1000191917 1			71,290.00		71,025.91		01-Jan-2005		10.499%		MI - 99.99%		360		01-Dec-2004
1000195542 1			50,150.00		49,946.77		01-Feb-2005		9.500%		TN - 85.00%		360		01-Jan-2005
1000186026 2			17,400.00		17,367.05		01-Dec-2004		14.500%		TX - 100.00%		180		01-Oct-2004
1000188822 2			72,000.00		71,489.62		01-Nov-2004		7.875%		MI - 80.00%		360		01-Nov-2004


TOTAL			270,840.00		#######


Page 15 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 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
1000182719 1
			83,000.00		82,638.20		01-Dec-2004		10.249%		IN - 100.00%		360		01-Nov-2004

1000187274 1			241,140.00		239,430.31		01-Feb-2005		7.874%		AZ - 80.00%		360		01-Nov-2004
1000187403 1			309,300.00		309,300.00		01-Mar-2005		7.500%		CO - 100.00%		360		01-Nov-2004
1000188164 1			60,350.00		59,942.94		01-Feb-2005		8.125%		NE - 85.00%		360		01-Nov-2004
1000188495 1			49,300.00		48,983.72		01-Mar-2005		8.375%		NE - 85.00%		360		01-Nov-2004
1000190896 1			106,250.00		105,845.90		01-Apr-2005		10.375%		ID - 85.00%		360		01-Dec-2004
1000191060 1			42,400.00		42,196.05		01-Jan-2005		9.750%		MO - 80.00%		360		01-Dec-2004
1000191369 1			44,000.00		43,763.79		01-Jan-2005		9.250%		IN - 80.00%		360		01-Nov-2004
1000191626 1			115,600.00		114,846.46		01-Nov-2004		7.750%		AZ - 80.00%		360		01-Dec-2004
1000191748 1			125,000.00		124,947.48		01-Mar-2005		10.000%		TN - 100.00%		360		01-Dec-2004
1000191973 1			96,000.00		95,572.55		01-Nov-2004		9.625%		GA - 80.00%		360		01-Dec-2004
1000191997 1			80,000.00		79,599.30		01-Feb-2005		9.250%		ID - 80.00%		360		01-Dec-2004
1000192156 1			41,600.00		41,399.83		01-Dec-2004		9.250%		IN - 80.00%		360		01-Dec-2004
1000192895 1			61,000.00		60,585.38		01-Mar-2005		7.999%		OH - 100.00%		360		01-Dec-2004
1000192909 1			55,920.00		55,657.79		01-Mar-2005		9.375%		IN - 80.00%		360		01-Dec-2004
1000193653 1			72,000.00		71,772.08		01-Jan-2005		11.250%		TX - 100.00%		360		01-Dec-2004
1000193762 1			250,600.00		249,719.58		01-Feb-2005		10.749%		GA - 100.00%		360		01-Dec-2004
1000194715 1			192,000.00		191,160.31		01-Feb-2005		9.124%		NV - 80.00%		360		01-Jan-2005
1000194989 1			135,000.00		134,091.40		01-Jan-2005		7.250%		FL - 100.00%		360		01-Jan-2005
1000195483 1			115,000.00		114,558.37		01-Feb-2005		9.750%		IL - 100.00%		360		01-Jan-2005
1000195494 1			40,370.00		40,193.52		01-Feb-2005		9.125%		IN - 84.99%		360		01-Jan-2005
1000195498 1			108,500.00		108,162.67		01-Mar-2005		10.749%		MO - 100.00%		360		01-Jan-2005
1000196135 1			60,350.00		60,001.49		01-Feb-2005		7.750%		NE - 85.00%		360		01-Jan-2005
1000196137 1			59,500.00		59,172.98		01-Feb-2005		7.999%		NE - 85.00%		360		01-Jan-2005
1000196199 1			59,600.00		59,352.55		01-Mar-2005		9.375%		IA - 80.00%		360		01-Jan-2005
1000198393 1			145,000.00		144,539.78		01-May-2005		11.500%		IA - 100.00%		360		01-Jan-2005
1000199215 1			328,000.00		326,197.35		01-Feb-2005		7.999%		MA - 80.00%		360		01-Jan-2005
1000199221 1			82,000.00		81,820.96		01-Feb-2005		12.375%		MA - 100.00%		180		01-Jan-2005
1000181621 2			136,000.00		135,214.55		01-May-2005		9.875%		IN - 80.00%		360		01-Oct-2004
1000181913 2			176,000.00		175,291.46		01-Nov-2004		10.625%		UT - 80.00%		360		01-Nov-2004
1000182946 2			52,000.00		51,713.61		01-Nov-2004		9.125%		MO - 80.00%		360		01-Nov-2004
1000183130 2			86,000.00		85,699.49		01-Feb-2005		11.750%		KS - 100.00%		360		01-Oct-2004
1000183427 2			94,960.00		94,382.61		01-Mar-2005		9.375%		TX - 80.00%		360		01-Dec-2004
1000185485 2			89,250.00		88,907.23		01-Feb-2005		9.750%		MI - 85.00%		360		01-Jan-2005
1000185971 2			36,400.00		36,242.86		01-Dec-2004		10.875%		NE - 80.00%		360		01-Nov-2004
1000186398 2			112,500.00		112,103.73		01-Jan-2005		11.250%		OH - 90.00%		360		01-Nov-2004
1000186414 2			88,000.00		87,541.64		01-Oct-2004		9.875%		MO - 80.00%		360		01-Oct-2004
1000187012 2			220,000.00		218,823.97		01-Feb-2005		9.750%		MD - 80.00%		360		01-Oct-2004
1000187020 2			55,000.00		54,869.29		01-Feb-2005		13.500%		MD - 100.00%		180		01-Oct-2004
1000187190 2			85,000.00		84,657.81		01-Feb-2005		10.625%		IL - 85.00%		360		01-Nov-2004
1000187546 2			53,600.00		53,340.57		01-Nov-2004		9.750%		IN - 80.00%		360		01-Nov-2004
1000188073 2			85,000.00		84,692.49		01-Jan-2005		11.125%		NE - 85.00%		360		01-Nov-2004
1000188105 2			63,750.00		63,320.07		01-Feb-2005		8.125%		NE - 85.00%		360		01-Nov-2004
1000188145 2			56,800.00		56,625.29		01-Feb-2005		11.875%		KS - 80.00%		360		01-Nov-2004
1000188220 2			188,000.00		188,000.00		01-Mar-2005		8.750%		GA - 80.00%		360		01-Nov-2004
1000188372 2			140,000.00		139,999.70		01-Mar-2005		5.999%		NV - 80.00%		360		01-Nov-2004
1000188643 2			250,400.00		250,265.89		01-Dec-2004		8.125%		AZ - 80.00%		360		01-Nov-2004
1000188717 2			105,620.00		105,205.98		01-Dec-2004		10.750%		KS - 79.99%		360		01-Nov-2004
1000188882 2			46,000.00		45,759.40		01-Jan-2005		9.375%		AL - 43.81%		360		01-Nov-2004


Page 16 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

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
1000189076 2
			60,000.00		59,765.59		01-Jan-2005		10.249%		CT - 61.22%		360		01-Dec-2004

1000189279 2			145,900.00		144,786.29		01-Jan-2005		7.500%		UT - 100.00%		360		01-Nov-2004
1000189616 2			72,000.00		71,717.70		01-Mar-2005		10.750%		IN - 90.00%		360		01-Nov-2004
1000190541 2			89,900.00		89,527.65		01-Dec-2004		10.500%		LA - 100.00%		360		01-Nov-2004
1000190637 2			36,900.00		36,780.52		01-Feb-2005		12.000%		PA - 90.00%		360		01-Dec-2004
1000191822 2			46,400.00		46,193.37		01-Mar-2005		9.625%		MD - 80.00%		360		01-Dec-2004
1000193296 2			177,600.00		176,788.40		01-Jan-2005		9.500%		OR - 80.00%		360		01-Dec-2004
1000193875 2			100,000.00		99,588.21		01-Dec-2004		9.999%		OK - 80.00%		360		01-Dec-2004
1000198179 2			87,750.00		87,404.06		01-Mar-2005		9.625%		KY - 90.00%		360		01-Jan-2005
1500010328 2			157,500.00		156,857.47		01-Dec-2004		11.249%		RI - 99.68%		360		01-Nov-2004


TOTAL			6,353,010.00		6,327,519.64


Page 17 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										49		70		119
Number of Repurchased Loans										11		8		19
Total Number of Loans Prepaid in Full										60		78		138
Curtailments Amount										9,387.15		13,747.31		23,134.46
Paid in Full Balance										6,940,588.90		10,359,635.94		17,300,224.84
Repurchased Loans Balance										1,103,333.62		901,937.54		2,005,271.16
Total Prepayment Amount										8,053,309.67		11,275,320.79		19,328,630.46

Cumulative


Number of Paid in Full Loans										219		240		459
Number of Repurchased Loans										11		8		19
Total Number of Loans Prepaid in Full										230		248		478
Paid in Full Balance										32,279,413.66		31,284,831.49		63,564,245.15
Repurchased Loans Balance										1,103,333.62		901,937.54		2,005,271.16
Curtailments Amount										-1,532,409.24		-7,494.13		-1,539,903.37
Total Prepayment Amount										31,850,338.04		32,179,274.90		64,029,612.94










Page 18 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


											Group 2		Group 1		Total



SMM										3.13%		3.08%		3.10%
3 Months Avg SMM										2.21%		2.14%		2.17%
12 Months Avg SMM										1.80%		1.27%		1.49%
Avg SMM Since Cut-off										1.80%		1.27%		1.49%


CPR										31.69%		31.31%		31.47%
3 Months Avg CPR										23.51%		22.88%		23.14%
12 Months Avg CPR										19.57%		14.22%		16.50%
Avg CPR Since Cut-off										19.57%		14.22%		16.50%


PSA										1,866.21%		1,952.34%		1,915.58%
3 Months Avg PSA Approximation										1,571.36%		1,627.30%		1,603.35%
12 Months Avg PSA Approximation										1,695.14%		1,342.71%		1,501.09%
Avg PSA Since Cut-off Approximation										1,695.14%		1,342.71%		1,501.09%










Page 19 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 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 20 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1000173416 1			235,600.00		235,600.00			28-Jul-2005		7.375%		NV - 95.00%		Paid Off - 360		01-Oct-2004


1000178225 2			50,250.00		50,000.08			29-Jul-2005		9.625%		MO - 75.00%		Paid Off - 360		01-Oct-2004

1000181214 2			32,600.00		32,379.04			09-Aug-2005		14.500%		UT - 100.00%		Paid Off - 240		01-Nov-2004

1000185216 1			135,420.00		134,795.47			12-Aug-2005		9.499%		FL - 100.00%		Paid Off - 360		01-Nov-2004

1000185302 2			246,400.00		246,400.00			04-Aug-2005		6.250%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

1000185306 2			61,600.00		61,346.33			04-Aug-2005		9.999%		AZ - 100.00%		Paid Off - 180		01-Nov-2004

1000185363 2			167,000.00		166,126.41			02-Aug-2005		9.375%		FL - 83.50%		Paid Off - 360		01-Oct-2004

1000185478 1			96,000.00		95,431.64			09-Aug-2005		7.625%		DC - 80.00%		Paid Off - 360		01-Dec-2004

1000185583 2			164,000.00		162,650.43			01-Aug-2005		6.625%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

1000185598 2			41,000.00		40,816.45			01-Aug-2005		10.500%		AZ - 100.00%		Paid Off - 180		01-Nov-2004

1000186009 2			61,640.00		61,273.53			15-Aug-2005		8.750%		MI - 94.99%		Paid Off - 360		01-Oct-2004

1000186263 2			30,000.00		29,871.00			01-Aug-2005		10.500%		IN - 75.00%		Paid Off - 360		01-Oct-2004

1000186267 2			10,000.00		9,915.41			01-Aug-2005		14.250%		IN - 100.00%		Paid Off - 240		01-Oct-2004

1000186519 1			400,000.00		400,000.00			05-Aug-2005		6.875%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1000186534 1			100,000.00		99,999.70			05-Aug-2005		10.375%		CA - 100.00%		Paid Off - 180		01-Nov-2004

1000186767 2			46,750.00		46,613.95			19-Jul-2005		11.625%		OH - 85.00%		Paid Off - 360		01-Nov-2004

1000187074 1			72,000.00		71,606.21			27-Jul-2005		8.625%		IL - 80.00%		Paid Off - 360		01-Nov-2004

1000187087 2			150,100.00		149,016.44			11-Aug-2005		7.250%		FL - 95.00%		Paid Off - 360		01-Nov-2004

1000188260 1			92,800.00		92,436.83			27-Jul-2005		7.500%		FL - 80.00%		Paid Off - 360		01-Nov-2004

1000188412 1			167,000.00		165,676.44			05-Aug-2005		6.750%		FL - 100.00%		Paid Off - 360		01-Nov-2004

1000188485 1			108,000.00		107,222.13			11-Aug-2005		7.250%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

1000188537 1			259,230.00		257,429.08			25-Jul-2005		8.375%		NV - 80.00%		Paid Off - 360		01-Nov-2004

1000189702 1			185,400.00		184,354.07			04-Aug-2005		7.875%		DC - 60.00%		Paid Off - 360		01-Dec-2004

1000189723 2			418,500.00		415,782.60			26-Jul-2005		7.375%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1000189742 2			250,000.00		247,970.45			15-Aug-2005		6.625%		CA - 56.82%		Paid Off - 360		01-Nov-2004

1000189829 1			500,000.00		500,000.00			18-Jul-2005		7.375%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1000189969 2			30,000.00		29,904.23			03-Aug-2005		10.625%		MO - 75.00%		Paid Off - 360		01-Dec-2004

1000190287 1			57,000.00		56,848.96			29-Jul-2005		11.990%		NJ - 100.00%		Paid Off - 180		01-Dec-2004

1000190360 1			160,560.00		159,404.63			01-Aug-2005		6.625%		OR - 80.00%		Paid Off - 360		01-Dec-2004

1000190365 1			40,140.00		40,033.90			01-Aug-2005		11.500%		OR - 100.00%		Paid Off - 180		01-Dec-2004

1000190592 2			138,400.00		138,399.75			04-Aug-2005		5.625%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

1000190599 1			158,800.00		157,953.34			04-Aug-2005		8.750%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

1000191097 1			200,000.00		198,490.24			16-Jul-2005		6.375%		KS - 100.00%		Paid Off - 360		01-Dec-2004

1000191464 1			162,480.00		162,480.00			09-Aug-2005		10.874%		AZ - 100.00%		Paid Off - 360		01-Dec-2004

1000191582 1			53,600.00		53,350.05			08-Aug-2005		9.625%		OK - 80.00%		Paid Off - 360		01-Dec-2004

1000191786 2			13,400.00		13,383.86			08-Aug-2005		14.999%		OK - 100.00%		Paid Off - 180		01-Dec-2004

1000192000 1			128,000.00		126,986.78			11-Aug-2005		6.125%		AZ - 80.00%		Paid Off - 360		01-Dec-2004



Page 21 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1000192124 2			400,000.00		399,000.00			26-Jul-2005		5.875%		CA - 75.76%		Paid Off - 360		01-Dec-2004


1000192164 1			230,000.00		228,671.51			15-Aug-2005		7.750%		CA - 69.70%		Paid Off - 360		01-Dec-2004

1000192377 1			221,000.00		219,447.47			08-Aug-2005		6.750%		VA - 100.00%		Paid Off - 360		01-Dec-2004

1000192879 1			35,200.00		35,090.54			10-Aug-2005		10.750%		AZ - 100.00%		Paid Off - 180		01-Dec-2004

1000193089 1			328,000.00		328,000.00			28-Jul-2005		8.250%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1000193090 1			82,000.00		81,800.56			27-Jul-2005		11.990%		CA - 100.00%		Paid Off - 180		01-Dec-2004

1000193328 1			24,370.00		24,295.63			21-Jul-2005		11.375%		NM - 100.00%		Paid Off - 180		01-Jan-2005

1000193555 1			172,800.00		171,740.05			20-Jul-2005		7.750%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1000193562 1			43,200.00		43,097.35			20-Jul-2005		11.990%		CA - 100.00%		Paid Off - 180		01-Dec-2004

1000193638 1			236,000.00		234,600.30			26-Jul-2005		7.625%		MA - 80.00%		Paid Off - 360		01-Dec-2004

1000193643 1			59,000.00		58,816.25			26-Jul-2005		10.875%		MA - 100.00%		Paid Off - 180		01-Dec-2004

1000193665 2			256,500.00		256,500.00			01-Aug-2005		9.750%		OR - 95.00%		Paid Off - 360		01-Dec-2004

1000193703 1			122,400.00		122,400.00			11-Aug-2005		6.749%		AZ - 80.00%		Paid Off - 360		01-Feb-2005

1000193882 1			225,000.00		225,000.00			19-Jul-2005		5.875%		CA - 84.91%		Paid Off - 360		01-Dec-2004

1000193897 1		FCL	309,000.00		307,556.01			02-Aug-2005		8.125%		GA - 100.00%		Paid Off - 360		01-Jan-2005

1000193974 1			36,980.00		36,879.50			11-Aug-2005		11.375%		GA - 100.00%		Paid Off - 180		01-Dec-2004

1000194375 1		FCL	111,000.00		110,595.42			10-Aug-2005		9.999%		AZ - 100.00%		Paid Off - 360		01-Dec-2004

1000194532 1			10,000.00		9,956.38			27-Jul-2005		12.740%		IL - 100.00%		Paid Off - 180		01-Jan-2005

1000194540 1			187,650.00		186,453.87			29-Jul-2005		7.250%		RI - 79.99%		Paid Off - 360		01-Dec-2004

1000194544 1			46,950.00		46,774.36			29-Jul-2005		9.875%		RI - 100.00%		Paid Off - 180		01-Dec-2004

1000194605 1			176,000.00		176,000.00			09-Aug-2005		8.875%		AZ - 80.00%		Paid Off - 360		01-Dec-2004

1000194675 1			16,120.00		16,093.31			05-Aug-2005		12.990%		KY - 100.00%		Paid Off - 180		01-Jan-2005

1000194731 2			230,000.00		228,967.94			19-Jul-2005		8.999%		IL - 100.00%		Paid Off - 360		01-Dec-2004

1000195184 1			111,900.00		111,900.00			02-Aug-2005		9.875%		AZ - 79.99%		Paid Off - 360		01-Dec-2004

1000195192 2			18,000.00		17,977.43			02-Aug-2005		14.865%		AZ - 92.85%		Paid Off - 180		01-Dec-2004

1000195302 1			27,600.00		27,516.47			07-Aug-2005		10.875%		AZ - 100.00%		Paid Off - 180		01-Dec-2004

1000195709 1			18,700.00		18,604.55			02-Aug-2005		11.375%		GA - 100.00%		Paid Off - 180		01-Jan-2005

1000195793 2			23,200.00		23,149.04			09-Aug-2005		14.250%		NV - 100.00%		Paid Off - 180		01-Jan-2005

1000195993 1			244,000.00		242,148.17			04-Aug-2005		5.625%		CA - 80.00%		Paid Off - 360		01-Jan-2005

1000196333 2			82,800.00		82,593.24			25-Jul-2005		11.125%		CA - 100.00%		Paid Off - 180		01-Jan-2005

1000196679 2			54,200.00		54,200.00			11-Aug-2005		8.999%		CA - 90.00%		Paid Off - 180		01-Jan-2005

1000196807 1			318,750.00		318,750.00			28-Jul-2005		6.500%		CA - 85.00%		Paid Off - 360		01-Jan-2005

1000196904 1			200,000.00		198,832.19			04-Aug-2005		7.000%		FL - 80.00%		Paid Off - 360		01-Jan-2005

1000196951 1			60,700.00		60,532.73			02-Aug-2005		11.125%		CA - 100.00%		Paid Off - 180		01-Jan-2005

1000196989 1			283,500.00		283,500.00			02-Aug-2005		9.375%		OK - 90.00%		Paid Off - 360		01-Feb-2005

1000197071 2			127,600.00		126,940.48			02-Aug-2005		8.875%		IL - 80.00%		Paid Off - 360		01-Jan-2005

1000197204 1			160,200.00		159,372.70			19-Jul-2005		7.625%		OR - 90.00%		Paid Off - 360		01-Jan-2005

1000197357 2			38,400.00		38,352.12			22-Jul-2005		14.250%		FL - 100.00%		Paid Off - 180		01-Jan-2005



Page 22 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1000197429 1			234,000.00		233,153.21			02-Aug-2005		9.375%		PA - 100.00%		Paid Off - 360		01-Jan-2005


1000197587 2			126,000.00		125,610.72			21-Jul-2005		9.375%		OH - 90.00%		Paid Off - 360		01-Feb-2005

1000198665 2			134,250.00		134,250.00			04-Aug-2005		8.125%		AZ - 75.00%		Paid Off - 360		01-Jan-2005

1000198847 1			158,000.00		157,572.16			02-Aug-2005		10.749%		FL - 100.00%		Paid Off - 360		01-Jan-2005

1000198999 1			460,800.00		460,800.00			30-Jul-2005		6.999%		CA - 80.00%		Paid Off - 360		01-Feb-2005

1000199001 1			115,200.00		115,200.00			30-Jul-2005		11.500%		CA - 100.00%		Paid Off - 180		01-Feb-2005

1000199382 1			247,350.00		245,885.60			03-Aug-2005		6.250%		AZ - 85.00%		Paid Off - 360		01-Feb-2005

1000199812 2			84,550.00		84,264.23			18-Jul-2005		9.125%		FL - 95.00%		Paid Off - 360		01-Feb-2005

1000199847 2			227,200.00		227,200.00			02-Aug-2005		6.999%		MA - 80.00%		Paid Off - 360		01-Feb-2005

1000199999 2			33,750.00		33,549.21			02-Aug-2005		6.125%		IN - 75.00%		Paid Off - 360		01-Feb-2005

1000200034 1			29,900.00		29,816.77			27-Jul-2005		9.875%		AZ - 100.00%		Paid Off - 180		01-Feb-2005

1000200254 1			179,910.00		179,770.04			01-Aug-2005		5.875%		WA - 80.00%		Paid Off - 360		01-Feb-2005

1000200335 1			46,000.00		45,914.19			02-Aug-2005		10.875%		CA - 100.00%		Paid Off - 180		01-Feb-2005

1000200374 2			69,530.00		69,326.08			02-Aug-2005		9.625%		MO - 79.99%		Paid Off - 360		01-Feb-2005

1000200377 2			17,390.00		17,371.49			02-Aug-2005		14.250%		MO - 100.00%		Paid Off - 180		01-Feb-2005

1000200568 1			240,000.00		238,673.04			11-Aug-2005		5.625%		CA - 80.00%		Paid Off - 360		01-Mar-2005

1000201136 2			248,000.00		247,233.73			04-Aug-2005		9.375%		RI - 80.00%		Paid Off - 360		01-Feb-2005

1000201204 1			36,420.00		36,262.05			11-Aug-2005		11.125%		AZ - 100.00%		Paid Off - 180		01-Feb-2005

1000201493 2			199,900.00		199,900.00			01-Aug-2005		11.499%		MO - 100.00%		Paid Off - 360		01-Feb-2005

1000201570 2			63,200.00		63,024.31			04-Aug-2005		9.000%		IN - 80.00%		Paid Off - 360		01-Mar-2005

1000201581 2			15,800.00		15,739.31			03-Aug-2005		14.250%		IN - 100.00%		Paid Off - 240		01-Mar-2005

1000201624 1			176,000.00		174,883.95			02-Aug-2005		5.749%		CO - 80.00%		Paid Off - 360		01-Feb-2005

1000201719 1			78,600.00		78,441.38			26-Jul-2005		11.375%		CA - 100.00%		Paid Off - 180		01-Feb-2005

1000201816 1			175,000.00		175,000.00			01-Aug-2005		8.125%		CA - 100.00%		Paid Off - 360		01-Feb-2005

1000202022 1			87,000.00		86,623.13			15-Aug-2005		8.999%		FL - 100.00%		Paid Off - 360		01-Feb-2005

1000202222 2			99,000.00		98,694.13			02-Aug-2005		9.375%		CT - 90.00%		Paid Off - 360		01-Feb-2005

1000202335 2			516,000.00		516,000.00			03-Aug-2005		5.500%		WA - 80.00%		Paid Off - 360		01-Feb-2005

1000202340 2			129,000.00		128,558.00			03-Aug-2005		8.875%		WA - 100.00%		Paid Off - 180		01-Feb-2005

1000202501 1			165,000.00		164,168.24			01-Aug-2005		5.999%		NV - 62.26%		Paid Off - 360		01-Mar-2005

1000202558 2			368,000.00		366,920.80			11-Aug-2005		9.625%		MA - 80.00%		Paid Off - 360		01-Feb-2005

1000202588 2			221,220.00		220,722.36			01-Aug-2005		9.999%		KS - 90.00%		Paid Off - 360		01-Mar-2005

1000203539 2			157,250.00		156,812.44			02-Aug-2005		9.875%		GA - 85.00%		Paid Off - 360		01-Feb-2005

1000203795 2			224,000.00		223,454.76			27-Jul-2005		9.625%		MA - 80.00%		Paid Off - 360		01-Mar-2005

1000203807 1			56,000.00		55,920.48			27-Jul-2005		12.125%		MA - 100.00%		Paid Off - 180		01-Mar-2005

1000204466 1			119,200.00		119,000.49			02-Aug-2005		11.375%		CA - 100.00%		Paid Off - 180		01-Mar-2005

1000204992 1			33,300.00		33,241.15			09-Aug-2005		11.125%		FL - 100.00%		Paid Off - 180		01-Mar-2005

1000205649 2			124,000.00		123,690.17			11-Aug-2005		9.500%		RI - 80.00%		Paid Off - 360		01-Mar-2005

1000205708 2			140,250.00		139,899.56			10-Aug-2005		9.500%		WI - 85.00%		Paid Off - 360		01-Mar-2005



Page 23 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1500010367 1			61,600.00		61,178.08			09-Aug-2005		7.500%		OH - 100.00%		Paid Off - 360		01-Nov-2004


1500010400 2			368,000.00		368,000.00			10-Aug-2005		5.625%		CA - 57.05%		Paid Off - 360		01-Nov-2004

1500010595 2			100,500.00		100,147.00			01-Aug-2005		10.750%		IA - 100.00%		Paid Off - 360		01-Nov-2004

1500010875 1			240,000.00		238,713.91			20-Jul-2005		8.125%		MA - 80.00%		Paid Off - 360		01-Dec-2004

1500010876 1			45,000.00		44,893.28			20-Jul-2005		12.000%		MA - 95.00%		Paid Off - 180		01-Dec-2004

1500011305 2			151,100.00		150,690.39			02-Aug-2005		9.999%		TX - 100.00%		Paid Off - 360		01-Feb-2005

1000191981 2			24,000.00		23,963.50			29-Jul-2005		13.990%		GA - 100.00%		Repur/Subs - 180		01-Dec-2004

1000192195 2		FCL	125,600.00		125,600.00			29-Jul-2005		9.250%		NE - 80.00%		Repur/Subs - 360		01-Dec-2004

1000193228 2		FCL	29,600.00		29,563.08			29-Jul-2005		14.250%		MI - 100.00%		Repur/Subs - 180		01-Jan-2005

1000193994 2		FCL	60,200.00		59,987.68			29-Jul-2005		9.499%		SD - 32.79%		Repur/Subs - 360		01-Jan-2005

1000195141 2			62,000.00		61,920.45			29-Jul-2005		14.125%		FL - 100.00%		Repur/Subs - 180		01-Jan-2005

1000195376 1		FCL	236,000.00		234,458.41			29-Jul-2005		7.125%		MA - 80.00%		Repur/Subs - 360		01-Dec-2004

1000195380 1			59,000.00		58,830.81			29-Jul-2005		11.125%		MA - 100.00%		Repur/Subs - 180		01-Dec-2004

1000196067 2		FCL	314,000.00		312,771.78			29-Jul-2005		8.999%		MI - 100.00%		Repur/Subs - 360		01-Jan-2005

1000197010 2			53,000.00		52,836.22			29-Jul-2005		9.375%		MI - 100.00%		Repur/Subs - 360		01-Feb-2005

1000197078 1			31,900.00		31,820.32			29-Jul-2005		11.125%		IL - 100.00%		Repur/Subs - 180		01-Jan-2005

1000197265 1			22,400.00		22,359.75			29-Jul-2005		12.625%		GA - 100.00%		Repur/Subs - 180		01-Jan-2005

1000197464 2			57,600.00		57,443.85			29-Jul-2005		9.999%		NE - 80.00%		Repur/Subs - 360		01-Feb-2005

1000198009 1			99,900.00		99,643.17			29-Jul-2005		10.250%		TX - 100.00%		Repur/Subs - 360		01-Feb-2005

1000198353 1			209,020.00		207,951.18			29-Jul-2005		6.875%		IN - 80.00%		Repur/Subs - 360		01-Feb-2005

1000198359 1			52,260.00		51,934.59			29-Jul-2005		11.990%		IN - 100.00%		Repur/Subs - 240		01-Feb-2005

1000198423 2			179,200.00		178,389.48			29-Jul-2005		7.500%		MI - 80.00%		Repur/Subs - 360		01-Feb-2005

1000201481 2			50,850.00		50,735.65			29-Jul-2005		10.875%		MO - 90.00%		Repur/Subs - 360		01-Feb-2005

1000201685 2			150,530.00		150,121.93			29-Jul-2005		9.999%		TX - 100.00%		Repur/Subs - 360		01-Feb-2005

1000202331 1			195,000.00		194,939.31			29-Jul-2005		7.249%		UT - 100.00%		Repur/Subs - 360		01-Feb-2005



TOTAL			19,366,620.00		19,305,496.00



Page 24 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


Current




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

Cumulative




Number of Loans Liquidated										1		0		1
Collateral Realized Loss/(Gain) Amount										5,096.66		0.00		5,096.66
Net Liquidation Proceeds										166,978.93		0.00		166,978.93










Page 25 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution


DEFAULT SPEEDS



											Group 2		Group 1		Total



MDR										0.00%		0.00%		0.00%
3 Months Avg MDR										0.00%		0.00%		0.00%
12 Months Avg MDR										0.01%		0.00%		0.00%
Avg MDR Since Cut-off										0.01%		0.00%		0.00%


CDR										0.00%		0.00%		0.00%
3 Months Avg CDR										0.00%		0.00%		0.00%
12 Months Avg CDR										0.11%		0.00%		0.04%
Avg CDR Since Cut-off										0.11%		0.00%		0.04%


SDA										0.00%		0.00%		0.00%
3 Months Avg SDA Approximation										0.00%		0.00%		0.00%
12 Months Avg SDA Approximation										0.92%		0.00%		0.41%
Avg SDA Since Cut-off Approximation										0.92%		0.00%		0.41%


Loss Severity Approximation for Current Period										0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation										0.42%		0.00%		0.42%
Avg Loss Severity Approximation Since Cut-off										0.42%		0.00%		0.42%












Page 26 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 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 27 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative

&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

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





TOTAL



Page 28 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

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

										Group 2		Group 1		Total
						Has Stepdown Condition occurred (0 = No, 1=Yes)								0

						Does a Trigger Event Exist-Either a) or b) Yes?								0
						a) Does a Delinquency Trigger Event Exists								0
						b) Does a Loss Trigger Event Exists (0=No,1=Yes)								0

						60+ days Delinqueny Balance								20,948,824.39
						Ending Collateral Balance								604,134,853.31
						Delinquency Percentage								3.4676%

						Senior Enhancement Percentage								24.277078%

						Cumulative Loss Percentage								0.00076070%


ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

SPACE INTENTIONALLY LEFT BLANK




Page 29 of 30
Meritage Mortgage Loan Trust 2005-1

Asset Backed Certificates

2005-1

August 25, 2005 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

													NET WAC Shortfall CarryOver		NET WAC Shortfall Paid
CLASS

			I-A1										$0.00		$0.00

			I-A2										$0.00		$0.00

			II-A1										$0.00		$0.00

			II-A2										$0.00		$0.00

			II-A3										$0.00		$0.00

			M-1										$0.00		$0.00

			M-2										$0.00		$0.00

			M-3										$0.00		$0.00

			M-4										$0.00		$0.00

			M-5										$0.00		$0.00

			M-6										$0.00		$0.00

			M-7										$0.00		$0.00

			M-8										$0.00		$0.00

			M-9										$0.00		$0.00

			M-10										$0.00		$0.00

			M-11										$0.00		$0.00

			B-1										$0.01		$0.00

			B-2										$0.00		$0.00







Page 30 of 30

Meritage Mortgage Loan Trust 2005-1 Asset-Backed Certificates, Series 2005-1 8-K