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

           Financial Asset Securities Corporation (as Depositor under the
               Pooling and Servicing Agreement, dated as June 1, 2005,
               providing for the issuance of Meritage Mortgage Loan Trust
              2005-2 Asset-Backed Pass-Through Certificates, Series 2005-2)
                 (Exact name of registrant as specified in charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-121661-21                          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
     October 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
                                  Corporation, Registrant


          Date:  Oct 28, 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 October 25, 2005.



Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				Greenwich Capital Financial Products, In						1. Certificate Payment Report					2
				Greenwich Capital Financial Products, In						2. Collection Account Report					6
										2. Collection Account Report					6
										3. Credit Enhancement Report					8
										4. Collateral Report					9
				Certificate Insurer(s)						5. Delinquency Report					13
				Certificate Insurer(s)						5. Delinquency Report					13
										6. REO Report					16

										7. Foreclosure Report					17
										8. Prepayment Report					18
										9. Prepayment Detail Report					21
										9. Prepayment Detail Report					21
										10. Realized Loss Report					23
										11. Realized Loss Detail Report					26
				Servicer(s)						11. Realized Loss Detail Report					26
				Servicer(s)						12. Triggers and Adj. Cert. Report					27
				Saxon Mortgage Services, Inc.						12. Triggers and Adj. Cert. Report					27
				Saxon Mortgage Services, Inc.


				Underwriter(s)
				Greenwich Capital Markets


										Total Number of Pages					27
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			June 01, 2005			Eiko Akiyama
				Close Date:			June 22, 2005			Administrator
				First Distribution Date:			July 25, 2005			(714) 247-6328

										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92514
				Distribution Date:			October 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			September 30, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							October 24, 2005
							October 24, 2005

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






Page 1 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution - 1
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
	Class		Original		Principal						Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance


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

I-A1	FLT/STEP/AF	$	284,127,000.00		278,270,903.87		912,342.08		6,800,947.79		7,713,289.87		0.00		0.00		271,469,956.08
I-A1	FLT/STEP/AF	$	284,127,000.00		278,270,903.87		912,342.08		6,800,947.79		7,713,289.87		0.00		0.00		271,469,956.08
II-A1	FLT/STEP/AF	$	91,078,000.00		85,890,484.94		273,298.75		2,889,546.10		3,162,844.85		0.00		0.00		83,000,938.84
II-A2	FLT/STEP/AF	$	97,138,000.00		97,138,000.00		319,260.23		0.00		319,260.23		0.00		0.00		97,138,000.00
II-A3	FLT/STEP/AF	$	19,382,000.00		19,382,000.00		65,888.03		0.00		65,888.03		0.00		0.00		19,382,000.00
M-1	FLT/STEP/AF	$	26,000,000.00		26,000,000.00		89,851.67		0.00		89,851.67		0.00		0.00		26,000,000.00
M-2	FLT/STEP/AF	$	23,075,000.00		23,075,000.00		80,486.88		0.00		80,486.88		0.00		0.00		23,075,000.00
M-3	FLT/STEP/AF	$	14,300,000.00		14,300,000.00		50,224.78		0.00		50,224.78		0.00		0.00		14,300,000.00
M-4	FLT/STEP/AF	$	13,650,000.00		13,650,000.00		49,261.33		0.00		49,261.33		0.00		0.00		13,650,000.00
M-5	FLT/STEP/AF	$	11,050,000.00		11,050,000.00		40,234.28		0.00		40,234.28		0.00		0.00		11,050,000.00
M-6	FLT/STEP/AF	$	11,050,000.00		11,050,000.00		40,412.31		0.00		40,412.31		0.00		0.00		11,050,000.00
M-7	FLT/STEP/AF	$	10,725,000.00		10,725,000.00		43,716.29		0.00		43,716.29		0.00		0.00		10,725,000.00
M-8	FLT/STEP/AF	$	7,150,000.00		7,150,000.00		29,835.36		0.00		29,835.36		0.00		0.00		7,150,000.00
M-9	FLT/STEP/AF	$	8,775,000.00		8,775,000.00		39,443.63		0.00		39,443.63		0.00		0.00		8,775,000.00
M-10	FLT/STEP/AF	$	5,525,000.00		5,525,000.00		30,398.24		0.00		30,398.24		0.00		0.00		5,525,000.00
M-11	FLT/STEP/AF	$	8,125,000.00		8,125,000.00		44,703.30		0.00		44,703.30		0.00		0.00		8,125,000.00
B-1	FLT/STEP/AF	$	7,800,000.00		7,800,000.00		42,915.17		0.00		42,915.17		0.00		0.00		7,800,000.00
B-2	FLT/STEP/AF	$	7,800,000.00		7,800,000.00		42,915.17		0.00		42,915.17		0.00		0.00		7,800,000.00
C	EXE	$	3,249,900.00		3,250,000.00		1,729,462.48		0.00		1,729,462.48		0.00		0.00		3,250,000.00
P	EXE	$	100.00		100.00		158,994.50		0.00		158,994.50		0.00		0.00		100.00
R	NPR/EXE	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			650,000,000.00		638,956,488.81		4,083,644.48		9,690,493.89		13,774,138.37		0.00		0.00		629,265,994.92
Total





Page 2 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution

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

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
I-A1	09/26/05		10/24/05		A-Act/360		59001FCL3		284,127,000.00		979.389160		3.211036		23.936295		27.147332	955.452865
II-A1	09/26/05		10/24/05		A-Act/360		59001FCM1		91,078,000.00		943.043160		3.000711		31.726060		34.726771	911.317100
II-A2	09/26/05		10/24/05		A-Act/360		59001FCN9		97,138,000.00		1,000.000000		3.286667		0.000000		3.286667	1,000.000000
II-A3	09/26/05		10/24/05		A-Act/360		59001FCP4		19,382,000.00		1,000.000000		3.399444		0.000000		3.399444	1,000.000000
M-1	09/26/05		10/24/05		A-Act/360		59001FCR0		26,000,000.00		1,000.000000		3.455833		0.000000		3.455833	1,000.000000
M-2	09/26/05		10/24/05		A-Act/360		59001FCS8		23,075,000.00		1,000.000000		3.488055		0.000000		3.488055	1,000.000000
M-3	09/26/05		10/24/05		A-Act/360		59001FCT6		14,300,000.00		1,000.000000		3.512222		0.000000		3.512222	1,000.000000
M-4	09/26/05		10/24/05		A-Act/360		59001FCU3		13,650,000.00		1,000.000000		3.608889		0.000000		3.608889	1,000.000000
M-5	09/26/05		10/24/05		A-Act/360		59001FCV1		11,050,000.00		1,000.000000		3.641111		0.000000		3.641111	1,000.000000
M-6	09/26/05		10/24/05		A-Act/360		59001FCW9		11,050,000.00		1,000.000000		3.657223		0.000000		3.657223	1,000.000000
M-7	09/26/05		10/24/05		A-Act/360		59001FCX7		10,725,000.00		1,000.000000		4.076111		0.000000		4.076111	1,000.000000
M-8	09/26/05		10/24/05		A-Act/360		59001FCY5		7,150,000.00		1,000.000000		4.172778		0.000000		4.172778	1,000.000000
M-9	09/26/05		10/24/05		A-Act/360		59001FCZ2		8,775,000.00		1,000.000000		4.495001		0.000000		4.495001	1,000.000000
M-10	09/26/05		10/24/05		A-Act/360		59001FDA6		5,525,000.00		1,000.000000		5.501944		0.000000		5.501944	1,000.000000
M-11	09/26/05		10/24/05		A-Act/360		59001FDB4		8,125,000.00		1,000.000000		5.501945		0.000000		5.501945	1,000.000000
B-1	09/26/05		10/24/05		A-Act/360		59001FDC2		7,800,000.00		1,000.000000		5.501945		0.000000		5.501945	1,000.000000
B-2	09/26/05		10/24/05		A-Act/360		59001FDD0		7,800,000.00		1,000.000000		5.501945		0.000000		5.501945	1,000.000000
C	09/01/05		09/30/05		F-30/360		GC05M2101		3,249,900.00		1,000.030770		532.158676		0.000000		532.158676	1,000.030770
P	09/01/05		09/30/05		F-30/360		GC05M2102		100.00		1,000.000000		1,589,945.000000		0.000000		1,589,945.000000	1,000.000000
R	09/01/05		09/30/05		F-30/360		59001FDE8		0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 3 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution

Distribution to Date - 1
																	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	284,127,000.00		3,701,339.58		12,192,091.80		464,952.12		12,657,043.92		16,358,383.50		0.00		0.00		271,469,956.08
II-A1	91,078,000.00		1,132,827.77		7,756,886.97		320,174.19		8,077,061.16		9,209,888.93		0.00		0.00		83,000,938.84
II-A2	97,138,000.00		1,279,901.09		0.00		0.00		0.00		1,279,901.09		0.00		0.00		97,138,000.00
II-A3	19,382,000.00		264,801.19		0.00		0.00		0.00		264,801.19		0.00		0.00		19,382,000.00
M-1	26,000,000.00		361,537.22		0.00		0.00		0.00		361,537.22		0.00		0.00		26,000,000.00
M-2	23,075,000.00		324,069.15		0.00		0.00		0.00		324,069.15		0.00		0.00		23,075,000.00
M-3	14,300,000.00		202,321.17		0.00		0.00		0.00		202,321.17		0.00		0.00		14,300,000.00
M-4	13,650,000.00		198,812.26		0.00		0.00		0.00		198,812.26		0.00		0.00		13,650,000.00
M-5	11,050,000.00		162,477.97		0.00		0.00		0.00		162,477.97		0.00		0.00		11,050,000.00
M-6	11,050,000.00		163,245.34		0.00		0.00		0.00		163,245.34		0.00		0.00		11,050,000.00
M-7	10,725,000.00		177,808.58		0.00		0.00		0.00		177,808.58		0.00		0.00		10,725,000.00
M-8	7,150,000.00		121,518.22		0.00		0.00		0.00		121,518.22		0.00		0.00		7,150,000.00
M-9	8,775,000.00		161,323.50		0.00		0.00		0.00		161,323.50		0.00		0.00		8,775,000.00
M-10	5,525,000.00		125,554.09		0.00		0.00		0.00		125,554.09		0.00		0.00		5,525,000.00
M-11	8,125,000.00		184,638.37		0.00		0.00		0.00		184,638.37		0.00		0.00		8,125,000.00
B-1	7,800,000.00		177,252.84		0.00		0.00		0.00		177,252.84		0.00		0.00		7,800,000.00
B-2	7,800,000.00		177,252.84		0.00		0.00		0.00		177,252.84		0.00		0.00		7,800,000.00
C	3,249,900.00		3,625,483.49		-93.60		-6.40		0.00		3,625,483.49		0.00		100.00		3,250,000.00
P	100.00		301,331.81		0.00		0.00		0.00		301,331.81		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	650,000,000.00		12,843,496.48		19,948,885.17		785,119.91		20,734,105.08		33,577,601.56		0.00		100.00		629,265,994.92



Page 4 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution

Interest Detail - 1
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or

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

Class	Rate		Balance		Interest		Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
I-A1	4.07000%		278,270,903.87		912,342.08		0.00		0.00		0.00		912,342.08		912,342.08		0.00
II-A1	3.95000%		85,890,484.94		273,298.75		0.00		0.00		0.00		273,298.75		273,298.75		0.00
II-A2	4.08000%		97,138,000.00		319,260.23		0.00		0.00		0.00		319,260.23		319,260.23		0.00
II-A3	4.22000%		19,382,000.00		65,888.03		0.00		0.00		0.00		65,888.03		65,888.03		0.00
M-1	4.29000%		26,000,000.00		89,851.67		0.00		0.00		0.00		89,851.67		89,851.67		0.00
M-2	4.33000%		23,075,000.00		80,486.88		0.00		0.00		0.00		80,486.88		80,486.88		0.00
M-3	4.36000%		14,300,000.00		50,224.78		0.00		0.00		0.00		50,224.78		50,224.78		0.00
M-4	4.48000%		13,650,000.00		49,261.33		0.00		0.00		0.00		49,261.33		49,261.33		0.00
M-5	4.52000%		11,050,000.00		40,234.28		0.00		0.00		0.00		40,234.28		40,234.28		0.00
M-6	4.54000%		11,050,000.00		40,412.31		0.00		0.00		0.00		40,412.31		40,412.31		0.00
M-7	5.06000%		10,725,000.00		43,716.29		0.00		0.00		0.00		43,716.29		43,716.29		0.00
M-8	5.18000%		7,150,000.00		29,835.36		0.00		0.00		0.00		29,835.36		29,835.36		0.00
M-9	5.58000%		8,775,000.00		39,443.63		0.00		0.00		0.00		39,443.63		39,443.63		0.00
M-10	6.83000%		5,525,000.00		30,398.24		0.00		0.00		0.00		30,398.24		30,398.24		0.00
M-11	6.83000%		8,125,000.00		44,703.30		0.00		0.00		0.00		44,703.30		44,703.30		0.00
B-1	6.83000%		7,800,000.00		42,915.17		0.00		0.00		0.00		42,915.17		42,915.17		0.00
B-2	6.83000%		7,800,000.00		42,915.17		0.00		0.00		0.00		42,915.17		42,915.17		0.00
C	638.57076%		3,250,000.00		0.00		-15,320,620.74		0.00		0.00		28,446,054.00		1,729,462.48		26,716,591.52
P	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		158,994.50		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			638,956,488.81		2,195,187.50		-15,320,620.74		0.00		0.00		30,641,241.50		4,083,644.48		26,716,591.52



Page 5 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
										Group 2		Group 1		Total
Principal Collections										2,879,914.73		6,796,215.22		9,676,129.95
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										9,631.67		4,733.27		14,364.94
TOTAL NET PRINCIPAL										2,889,546.40		6,800,948.49		9,690,494.89
Interest Collections										1,622,707.21		2,487,459.01		4,110,166.23
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts														158,994.50
Interest Fees										-80,437.56		-105,079.69		-185,517.25
TOTAL NET INTEREST										1,542,269.65		2,541,373.82		4,083,643.48
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										4,431,816.05		9,342,322.31		13,774,138.37



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											69,543.84		178,673.36		248,217.20
Curtailments											73,522.02		28,383.97		101,905.99
Prepayments In Full											2,736,848.87		6,589,157.89		9,326,006.76
Repurchased/Substitutions											0.00		0.00		0.00
Liquidations											0.00		0.00		0.00
Other Additional Principal											0.00		0.00		0.00
Delinquent Principal											-20,714.92		-54,727.66		-75,442.58
Realized Losses											-0.00		-0.00		-0.00
Advanced Principal											20,714.92		54,727.66		75,442.58
TOTAL PRINCIPAL COLLECTED											2,879,914.73		6,796,215.22		9,676,129.95


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
										Group 2		Group 1		Total
TOTAL PRINCIPAL OTHER ACCOUNTS										9,631.67		4,733.27		14,364.94





Page 6 of 27
Meritage Mortgage Loan Trust 2005-2

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Asset Backed Certificates
2005-2

October 25, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										1,654,445.59		2,536,429.27		4,190,874.86
Repurchased/Substitution Interest										0.00		0.00		0.00
Liquidation Interest										0.00		0.00		0.00
Other Additional Interest										0.00		0.00		0.00
Prepayment Interest Shortfalls										-1,818.08		-4,356.05		-6,174.13
Delinquent Interest										-488,628.92		-834,360.45		-1,322,989.37
Compensating Interest										1,818.08		4,356.05		6,174.14
Civil Relief Act Shortfalls										-0.00		-0.00		-0.00
Interest Advanced										456,890.54		785,390.20		1,242,280.74
TOTAL INTEREST COLLECTED										1,622,707.21		2,487,459.01		4,110,166.23


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
										Group 2		Group 1		Total
TOTAL INTEREST WITHDRAWALS										0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges														158,994.50
Cap Contract Payment										0.00		0.00		0.00
TOTAL INTEREST OTHER ACCOUNTS														158,994.50



INTEREST - FEES
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										80,437.56		105,079.69		185,517.25
Trustee Fees										0.00		0.00		0.00
TOTAL INTEREST FEES										80,437.56		105,079.69		185,517.25




Page 7 of 27
Meritage Mortgage Loan Trust 2005-2

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Asset Backed Certificates
2005-2

October 25, 2005 Distribution
Credit Enhancement Report

ACCOUNTS


Net WAC Rate Carryover Reserve Account

Beginning Net WAC Carryover Reserve Account						0.00
Net WAC Carryover Reserve Account Deposit						0.00
Net WAC Carryover Withdrawls						0.00
Ending Net WAC Carryover Reserve Account						0.00




INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Overcollateralization Target Amount														3,250,000.00
Overcollateralization Amount (Beginning)														3,250,000.00
Overcollateralization Deficiency Amount														0.00
Overcollateralization Release Amount														0.00
Overcollateralization Amount (Ending)														3,250,000.00
Overcollateralization Deficiency (Ending)														0.00
Excess Overcollateralization (Ending)														0.00



Page 8 of 27
Meritage Mortgage Loan Trust 2005-2

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Asset Backed Certificates
2005-2

October 25, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										659		2,648		3,307
Prior										1,097		4,512		5,609
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-12		-57		-69
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										1,085		4,455		5,540
Principal Balance:


Original										161,868,979.78		221,539,975.49		383,408,955.27
Prior										269,222,253.52		369,719,871.35		638,942,124.87
Prefunding										0.00		0.00		0.00
Scheduled Principal										-69,543.84		-178,673.36		-248,217.20
Partial Prepayments										-73,522.02		-28,383.97		-101,905.99
Full Voluntary Prepayments										-2,736,848.87		-6,589,157.89		-9,326,006.76
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										266,342,338.79		362,923,656.13		629,265,994.92





PREFUNDING
PREFUNDING
										Group 2		Group 1		Total
Prefunding Account Original Balance										112,550,371.71		154,040,673.02		266,591,044.73
Prefunding Account Beginning Balance										9,631.67		4,733.27		14,364.94
Subsequent Loans Added to the Pool										0.00		0.00		0.00
Prefund Release to Certificate Holders										9,631.67		4,733.27		14,364.94
Prefunding Account Ending Balance										0.00		0.00		0.00
Interest Coverage Account Balance										0.00		0.00		0.00




Page 9 of 27
Meritage Mortgage Loan Trust 2005-2

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Asset Backed Certificates
2005-2

October 25, 2005 Distribution


CHARACTERISTICS
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										7.32320%		8.15096%		7.80149%
Weighted Average Coupon Prior										7.38397%		8.23020%		7.87284%
Weighted Average Coupon Current										7.37433%		8.23249%		7.87090%
Weighted Average Months to Maturity Original										341		328		333
Weighted Average Months to Maturity Prior										340		323		330
Weighted Average Months to Maturity Current										339		321		329
Weighted Avg Remaining Amortization Term Original										341		328		333
Weighted Avg Remaining Amortization Term Prior										340		323		330
Weighted Avg Remaining Amortization Term Current										339		321		329
Weighted Average Seasoning Original										2.40		2.40		2.40
Weighted Average Seasoning Prior										3.80		3.78		3.79
Weighted Average Seasoning Current										4.80		4.78		4.79






Page 10 of 27
Meritage Mortgage Loan Trust 2005-2

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Asset Backed Certificates
2005-2

October 25, 2005 Distribution



ARM CHARACTERISTICS
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										6.18926%		6.77152%		6.51154%
Weighted Average Margin Prior										6.27581%		6.88730%		6.61359%
Weighted Average Margin Current										6.27159%		6.89077%		6.61399%
Weighted Average Max Rate Original										14.19286%		14.77328%		14.51412%
Weighted Average Max Rate Prior										14.27962%		14.89303%		14.61846%
Weighted Average Max Rate Current										14.27545%		14.89633%		14.61879%
Weighted Average Min Rate Original										7.19286%		7.77687%		7.51611%
Weighted Average Min Rate Prior										7.28087%		7.89608%		7.62071%
Weighted Average Min Rate Current										7.27671%		7.89941%		7.62105%
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%





Page 11 of 27
Meritage Mortgage Loan Trust 2005-2

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Asset Backed Certificates
2005-2

October 25, 2005 Distribution

SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										80,437.56		105,079.69		185,517.25
Delinquent Servicing Fees										31,738.38		48,970.25		80,708.63
TOTAL SERVICING FEES										112,175.94		154,049.96		266,225.90


Total Servicing Fees										112,175.94		154,049.96		266,225.90
Compensating Interest										-1,818.08		-4,356.05		-6,174.14
Delinquent Servicing Fees										-31,738.38		-48,970.25		-80,708.63
COLLECTED SERVICING FEES										78,619.48		100,723.64		179,343.12


Total Advaced Interest										456,890.54		785,390.20		1,242,280.74
Total Advaced Principal										20,714.92		54,727.66		75,442.58
Aggregate Advances with respect to this Distribution										477,605.46		840,117.85		1,317,723.31





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)										1,818.08		4,356.05		6,174.13
Compensating Interest										-1,818.08		-4,356.05		-6,174.14
Net Prepayment Interest Shortfall (PPIS)										0.00		0.00		0.00

Weighted Average Net Mortgage Rate										6.874334%		8.248538%		7.669509%

Libor For Current Period														3.83000%

Libor For Next Period														4.03750%



Page 12 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				6,121,088.96		3,553,902.19		4,082,355.39		13,757,346.54
			% Balance				0.97%		0.56%		0.65%		2.19%
			# Loans				48		33		46		127
			% # Loans				0.87%		0.60%		0.83%		2.29%
	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		618,462.02		0.00		69,741.01		0.00		688,203.03
			% Balance		0.10%		0.00%		0.01%		0.00%		0.11%
			# Loans		4		0		1		0		5
			% # Loans		0.07%		0.00%		0.02%		0.00%		0.09%
	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		618,462.02		6,121,088.96		3,623,643.20		4,082,355.39		14,445,549.57
			% Balance		0.10%		0.97%		0.58%		0.65%		2.30%
			# Loans		4		48		34		46		132
			% # Loans		0.07%		0.87%		0.61%		0.83%		2.38%









Page 13 of 27
Meritage Mortgage Loan Trust 2005-2

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Asset Backed Certificates
2005-2

October 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				3,389,375.55		2,650,696.53		2,548,678.79		8,588,750.87
			% Balance				0.93%		0.73%		0.70%		2.37%
			# Loans				39		29		41		109
			% # Loans				0.88%		0.65%		0.92%		2.45%
	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		184,496.70		0.00		69,741.01		0.00		254,237.71
			% Balance		0.05%		0.00%		0.02%		0.00%		0.07%
			# Loans		2		0		1		0		3
			% # Loans		0.04%		0.00%		0.02%		0.00%		0.07%
	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		184,496.70		3,389,375.55		2,720,437.54		2,548,678.79		8,842,988.58
			% Balance		0.05%		0.93%		0.75%		0.70%		2.44%
			# Loans		2		39		30		41		112
			% # Loans		0.04%		0.88%		0.67%		0.92%		2.51%










Page 14 of 27
Meritage Mortgage Loan Trust 2005-2

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Asset Backed Certificates
2005-2

October 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				2,731,713.41		903,205.66		1,533,676.60		5,168,595.67
			% Balance				1.03%		0.34%		0.58%		1.94%
			# Loans				9		4		5		18
			% # Loans				0.83%		0.37%		0.46%		1.66%
	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		433,965.32		0.00		0.00		0.00		433,965.32
			% Balance		0.16%		0.00%		0.00%		0.00%		0.16%
			# Loans		2		0		0		0		2
			% # Loans		0.18%		0.00%		0.00%		0.00%		0.18%
	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		433,965.32		2,731,713.41		903,205.66		1,533,676.60		5,602,560.99
			% Balance		0.16%		1.03%		0.34%		0.58%		2.10%
			# Loans		2		9		4		5		20
			% # Loans		0.18%		0.83%		0.37%		0.46%		1.84%









Page 15 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution
REO Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date




TOTAL


Page 16 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date




TOTAL


Page 17 of 27
Meritage Mortgage Loan Trust 2005-2

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Asset Backed Certificates
2005-2

October 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										12		57		69
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										12		57		69
Curtailments Amount										73,522.02		28,383.97		101,905.99
Paid in Full Balance										2,736,848.87		6,589,157.89		9,326,006.76
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										2,810,370.89		6,617,541.86		9,427,912.75

Cumulative


Number of Paid in Full Loans										32		106		138
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										32		106		138
Paid in Full Balance										7,753,764.37		12,020,114.62		19,773,878.99
Repurchased Loans Balance										0.00		0.00		0.00
Curtailments Amount										91,782.62		68,859.62		160,642.24
Total Prepayment Amount										7,845,546.99		12,088,974.24		19,934,521.23










Page 18 of 27
Meritage Mortgage Loan Trust 2005-2

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Asset Backed Certificates
2005-2

October 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

											Group 2		Group 1		Total



SMM										1.04%		1.79%		1.48%
3 Months Avg SMM										0.90%		1.08%		1.01%
12 Months Avg SMM										0.84%		0.93%		0.89%
Avg SMM Since Cut-off										0.84%		0.93%		0.89%


CPR										11.83%		19.49%		16.34%
3 Months Avg CPR										10.33%		12.27%		11.45%
12 Months Avg CPR										9.60%		10.65%		10.21%
Avg CPR Since Cut-off										9.60%		10.65%		10.21%


PSA										1,231.62%		2,039.07%		1,705.89%
3 Months Avg PSA Approximation										1,290.71%		1,537.96%		1,433.89%
12 Months Avg PSA Approximation										1,332.76%		1,483.68%		1,419.96%
Avg PSA Since Cut-off Approximation										1,332.76%		1,483.69%		1,419.96%










Page 19 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 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 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

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

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1000203403 1			36,000.00		35,927.32			16-Sep-2005		11.375%		IL - 100.00%		Paid Off - 180		01-Apr-2005
			36,000.00

1000205046 1			280,000.00		280,000.00			30-Sep-2005		8.875%		FL - 94.92%		Paid Off - 360		01-May-2005
1000205046 1					280,000.00			30-Sep-2005		8.875%		FL - 94.92%		Paid Off - 360		01-May-2005
1000207268 1			13,020.00		13,002.94			26-Sep-2005		12.490%		WA - 100.00%		Paid Off - 180		01-May-2005
1000207268 1					13,002.94			26-Sep-2005		12.490%		WA - 100.00%		Paid Off - 180		01-May-2005
1000207386 1			145,350.00		145,350.00			20-Sep-2005		6.624%		AZ - 85.00%		Paid Off - 360		01-May-2005
1000207386 1					145,350.00			20-Sep-2005		6.624%		AZ - 85.00%		Paid Off - 360		01-May-2005
1000207827 1			27,700.00		27,650.46			04-Oct-2005		11.125%		AZ - 100.00%		Paid Off - 180		01-May-2005
1000207827 1					27,650.46			04-Oct-2005		11.125%		AZ - 100.00%		Paid Off - 180		01-May-2005
1000208270 1			117,000.00		116,401.69			21-Sep-2005		6.875%		NJ - 66.10%		Paid Off - 360		01-Apr-2005
1000208270 1					116,401.69			21-Sep-2005		6.875%		NJ - 66.10%		Paid Off - 360		01-Apr-2005
1000208375 2			276,000.00		275,441.92			29-Sep-2005		10.500%		GA - 100.00%		Paid Off - 360		01-May-2005
1000208375 2					275,441.92			29-Sep-2005		10.500%		GA - 100.00%		Paid Off - 360		01-May-2005
1000209179 1			29,000.00		28,938.19			29-Sep-2005		11.125%		AZ - 100.00%		Paid Off - 180		01-Apr-2005
1000209179 1					28,938.19			29-Sep-2005		11.125%		AZ - 100.00%		Paid Off - 180		01-Apr-2005
1000209367 1			229,400.00		228,364.87			13-Oct-2005		5.375%		CA - 62.76%		Paid Off - 360		01-Jun-2005
1000209367 1					228,364.87			13-Oct-2005		5.375%		CA - 62.76%		Paid Off - 360		01-Jun-2005
1000209785 1			165,700.00		165,287.96			23-Sep-2005		10.500%		OH - 84.97%		Paid Off - 360		01-May-2005
1000209785 1					165,287.96			23-Sep-2005		10.500%		OH - 84.97%		Paid Off - 360		01-May-2005
1000210429 1			157,500.00		156,999.27			06-Oct-2005		7.250%		MN - 90.00%		Paid Off - 360		01-Jun-2005
1000210429 1					156,999.27			06-Oct-2005		7.250%		MN - 90.00%		Paid Off - 360		01-Jun-2005
1000210964 1			175,000.00		175,000.00			10-Oct-2005		6.375%		WA - 49.30%		Paid Off - 360		01-Jun-2005
1000210964 1					175,000.00			10-Oct-2005		6.375%		WA - 49.30%		Paid Off - 360		01-Jun-2005
1000211197 1			68,000.00		67,879.83			29-Sep-2005		11.125%		MD - 100.00%		Paid Off - 180		01-May-2005
1000211197 1					67,879.83			29-Sep-2005		11.125%		MD - 100.00%		Paid Off - 180		01-May-2005
1000211247 2			188,800.00		188,303.01			28-Sep-2005		9.250%		KY - 80.00%		Paid Off - 360		01-May-2005
1000211247 2					188,303.01			28-Sep-2005		9.250%		KY - 80.00%		Paid Off - 360		01-May-2005
1000211253 1			47,200.00		47,150.75			28-Sep-2005		13.500%		KY - 100.00%		Paid Off - 180		01-May-2005
1000211253 1					47,150.75			28-Sep-2005		13.500%		KY - 100.00%		Paid Off - 180		01-May-2005
1000211568 1			97,900.00		97,614.22			13-Oct-2005		8.750%		FL - 100.00%		Paid Off - 360		01-May-2005
1000211568 1					97,614.22			13-Oct-2005		8.750%		FL - 100.00%		Paid Off - 360		01-May-2005
1000211678 1			266,250.00		266,249.99			27-Sep-2005		6.500%		CA - 75.00%		Paid Off - 360		01-May-2005
1000211678 1					266,249.99			27-Sep-2005		6.500%		CA - 75.00%		Paid Off - 360		01-May-2005
1000211871 1			71,910.00		71,684.39			30-Sep-2005		9.125%		NM - 90.00%		Paid Off - 360		01-May-2005
1000211871 1					71,684.39			30-Sep-2005		9.125%		NM - 90.00%		Paid Off - 360		01-May-2005
1000212168 1			10,000.00		9,990.64			14-Oct-2005		13.990%		IN - 100.00%		Paid Off - 180		01-May-2005
1000212168 1					9,990.64			14-Oct-2005		13.990%		IN - 100.00%		Paid Off - 180		01-May-2005
1000212265 1			160,000.00		160,000.00			06-Oct-2005		6.500%		AZ - 80.00%		Paid Off - 360		01-May-2005
1000212265 1					160,000.00			06-Oct-2005		6.500%		AZ - 80.00%		Paid Off - 360		01-May-2005
1000212270 1			40,000.00		39,902.61			06-Oct-2005		9.625%		AZ - 100.00%		Paid Off - 180		01-May-2005
1000212270 1					39,902.61			06-Oct-2005		9.625%		AZ - 100.00%		Paid Off - 180		01-May-2005
1000212850 2			192,000.00		191,330.62			20-Sep-2005		7.875%		RI - 80.00%		Paid Off - 360		01-May-2005
1000212850 2					191,330.62			20-Sep-2005		7.875%		RI - 80.00%		Paid Off - 360		01-May-2005
1000212853 1			48,000.00		47,945.48			20-Sep-2005		13.125%		RI - 100.00%		Paid Off - 180		01-May-2005
1000212853 1					47,945.48			20-Sep-2005		13.125%		RI - 100.00%		Paid Off - 180		01-May-2005
1000213048 1			52,000.00		51,855.66			21-Sep-2005		9.125%		WA - 100.00%		Paid Off - 180		01-May-2005
1000213048 1					51,855.66			21-Sep-2005		9.125%		WA - 100.00%		Paid Off - 180		01-May-2005
1000213189 1			256,000.00		255,931.43			29-Sep-2005		5.875%		AZ - 80.00%		Paid Off - 360		01-Jun-2005
1000213189 1					255,931.43			29-Sep-2005		5.875%		AZ - 80.00%		Paid Off - 360		01-Jun-2005
1000213190 1			60,200.00		60,078.51			29-Sep-2005		10.500%		AZ - 98.81%		Paid Off - 180		01-Jun-2005
1000213190 1					60,078.51			29-Sep-2005		10.500%		AZ - 98.81%		Paid Off - 180		01-Jun-2005
1000213212 1			173,700.00		173,279.36			16-Sep-2005		8.555%		MN - 90.00%		Paid Off - 360		01-Jun-2005
1000213212 1					173,279.36			16-Sep-2005		8.555%		MN - 90.00%		Paid Off - 360		01-Jun-2005
1000213259 2			271,690.00		271,690.00			23-Sep-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Jun-2005
1000213259 2					271,690.00			23-Sep-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Jun-2005
1000213275 1			67,930.00		67,783.75			23-Sep-2005		9.125%		CA - 100.00%		Paid Off - 180		01-Jun-2005
1000213275 1					67,783.75			23-Sep-2005		9.125%		CA - 100.00%		Paid Off - 180		01-Jun-2005
1000213308 1			342,780.00		342,681.81				6.875%		CA - 90.00%		Paid Off - 360		01-Jun-2005
1000213308 1					342,681.81				6.875%		CA - 90.00%		Paid Off - 360		01-Jun-2005
1000213589 1			335,000.00		335,000.00			23-Sep-2005		5.500%		CA - 77.91%		Paid Off - 360		01-May-2005
1000213589 1					335,000.00			23-Sep-2005		5.500%		CA - 77.91%		Paid Off - 360		01-May-2005
1000213790 1			223,250.00		223,250.00			04-Oct-2005		7.624%		AZ - 94.20%		Paid Off - 360		01-Jun-2005
1000213790 1					223,250.00			04-Oct-2005		7.624%		AZ - 94.20%		Paid Off - 360		01-Jun-2005
1000213855 1			125,500.00		125,106.77			30-Sep-2005		7.275%		FL - 83.67%		Paid Off - 360		01-Jun-2005
1000213855 1					125,106.77			30-Sep-2005		7.275%		FL - 83.67%		Paid Off - 360		01-Jun-2005
1000213926 1			38,000.00		37,598.28			13-Oct-2005		9.125%		WA - 100.00%		Paid Off - 180		01-Jun-2005
1000213926 1					37,598.28			13-Oct-2005		9.125%		WA - 100.00%		Paid Off - 180		01-Jun-2005
1000214730 1			127,500.00		127,210.89			06-Oct-2005		8.875%		AZ - 75.00%		Paid Off - 360		01-Jun-2005
1000214730 1					127,210.89			06-Oct-2005		8.875%		AZ - 75.00%		Paid Off - 360		01-Jun-2005
1000215237 1			244,800.00		243,974.31			28-Sep-2005		6.900%		AZ - 85.00%		Paid Off - 360		01-Jun-2005
1000215237 1					243,974.31			28-Sep-2005		6.900%		AZ - 85.00%		Paid Off - 360		01-Jun-2005
1000215543 1			36,000.00		35,902.39			23-Sep-2005		8.000%		OH - 90.00%		Paid Off - 360		01-Jun-2005
1000215543 1					35,902.39					8.000%		OH - 90.00%		Paid Off - 360


Page 21 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution

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

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1000215738 1			84,800.00		84,652.19			05-Oct-2005		10.130%		MO - 80.00%		Paid Off - 360		01-Jun-2005
			84,800.00

1000216494 1			225,000.00		224,231.40			22-Sep-2005		6.835%		CA - 66.18%		Paid Off - 360		01-Jun-2005
1000216494 1					224,231.40			22-Sep-2005		6.835%		CA - 66.18%		Paid Off - 360		01-Jun-2005
1000216891 1			25,000.00		24,975.13			19-Sep-2005		11.375%		FL - 100.00%		Paid Off - 180		01-Jul-2005
1000216891 1					24,975.13			19-Sep-2005		11.375%		FL - 100.00%		Paid Off - 180		01-Jul-2005
1000216935 1			175,000.00		174,718.78			07-Oct-2005		9.130%		AZ - 83.33%		Paid Off - 360		01-Jul-2005
1000216935 1					174,718.78			07-Oct-2005		9.130%		AZ - 83.33%		Paid Off - 360		01-Jul-2005
1000216989 1			90,000.00		89,630.27			28-Sep-2005		5.875%		FL - 74.38%		Paid Off - 360		01-Jun-2005
1000216989 1					89,630.27			28-Sep-2005		5.875%		FL - 74.38%		Paid Off - 360		01-Jun-2005
1000217129 1			320,000.00		320,000.00			05-Oct-2005		6.888%		CA - 80.00%		Paid Off - 360		01-Jun-2005
1000217129 1					320,000.00			05-Oct-2005		6.888%		CA - 80.00%		Paid Off - 360		01-Jun-2005
1000217149 2			80,000.00		79,836.60			05-Oct-2005		10.625%		CA - 100.00%		Paid Off - 180		01-Jun-2005
1000217149 2					79,836.60			05-Oct-2005		10.625%		CA - 100.00%		Paid Off - 180		01-Jun-2005
1000217264 2			114,000.00		113,798.05			12-Oct-2005		11.625%		AZ - 100.00%		Paid Off - 180		01-Jun-2005
1000217264 2					113,798.05			12-Oct-2005		11.625%		AZ - 100.00%		Paid Off - 180		01-Jun-2005
1000217712 1			224,000.00		223,991.91			13-Oct-2005		6.200%		WA - 78.60%		Paid Off - 360		01-Jul-2005
1000217712 1					223,991.91			13-Oct-2005		6.200%		WA - 78.60%		Paid Off - 360		01-Jul-2005
1000217861 1			154,000.00		154,000.00			07-Oct-2005		7.650%		OH - 80.00%		Paid Off - 360		01-Jun-2005
1000217861 1					154,000.00			07-Oct-2005		7.650%		OH - 80.00%		Paid Off - 360		01-Jun-2005
1000217867 1			38,500.00		38,442.82			07-Oct-2005		10.875%		OH - 100.00%		Paid Off - 180		01-Jun-2005
1000217867 1					38,442.82			07-Oct-2005		10.875%		OH - 100.00%		Paid Off - 180		01-Jun-2005
1000218999 1			14,840.00		14,824.16			28-Sep-2005		9.125%		PA - 100.00%		Paid Off - 180		01-Aug-2005
1000218999 1					14,824.16			28-Sep-2005		9.125%		PA - 100.00%		Paid Off - 180		01-Aug-2005
1000219083 1			75,100.00		74,859.16				5.650%		IL - 39.12%		Paid Off - 360		01-Jul-2005
1000219083 1					74,859.16				5.650%		IL - 39.12%		Paid Off - 360		01-Jul-2005
1000219184 2			420,000.00		420,000.00			20-Sep-2005		6.575%		AZ - 84.00%		Paid Off - 360		01-Jul-2005
1000219184 2					420,000.00			20-Sep-2005		6.575%		AZ - 84.00%		Paid Off - 360		01-Jul-2005
1000219372 1			148,000.00		147,660.06			19-Sep-2005		7.375%		AZ - 80.00%		Paid Off - 360		01-Jul-2005
1000219372 1					147,660.06			19-Sep-2005		7.375%		AZ - 80.00%		Paid Off - 360		01-Jul-2005
1000219380 1			37,000.00		36,961.12			19-Sep-2005		11.125%		AZ - 100.00%		Paid Off - 180		01-Jul-2005
1000219380 1					36,961.12			19-Sep-2005		11.125%		AZ - 100.00%		Paid Off - 180		01-Jul-2005
1000219412 1			144,900.00		144,804.00				7.505%		FL - 69.00%		Paid Off - 360		01-Aug-2005
1000219412 1					144,804.00				7.505%		FL - 69.00%		Paid Off - 360		01-Aug-2005
1000219670 1			60,000.00		59,855.21			23-Sep-2005		7.125%		FL - 80.00%		Paid Off - 360		01-Jul-2005
1000219670 1					59,855.21			23-Sep-2005		7.125%		FL - 80.00%		Paid Off - 360		01-Jul-2005
1000219994 2			112,000.00		111,755.26			13-Oct-2005		7.625%		CA - 100.00%		Paid Off - 180		01-Jul-2005
1000219994 2					111,755.26			13-Oct-2005		7.625%		CA - 100.00%		Paid Off - 180		01-Jul-2005
1000220323 1			15,700.00		7,688.91			20-Sep-2005		11.375%		MS - 100.00%		Paid Off - 180		01-Jul-2005
1000220323 1					7,688.91			20-Sep-2005		11.375%		MS - 100.00%		Paid Off - 180		01-Jul-2005
1000220422 2			250,000.00		249,493.41			05-Oct-2005		8.000%		RI - 98.04%		Paid Off - 360		01-Jul-2005
1000220422 2					249,493.41			05-Oct-2005		8.000%		RI - 98.04%		Paid Off - 360		01-Jul-2005
1000220444 2			196,000.00		196,000.00			03-Oct-2005		9.005%		OR - 80.00%		Paid Off - 360		01-Jul-2005
1000220444 2					196,000.00			03-Oct-2005		9.005%		OR - 80.00%		Paid Off - 360		01-Jul-2005
1000221212 1			15,000.00		14,982.90			23-Sep-2005		10.750%		FL - 100.00%		Paid Off - 180		01-Jul-2005
1000221212 1					14,982.90			23-Sep-2005		10.750%		FL - 100.00%		Paid Off - 180		01-Jul-2005
1000221833 1			22,240.00		22,217.26				11.250%		FL - 100.00%		Paid Off - 180		01-Jul-2005
1000221833 1					22,217.26				11.250%		FL - 100.00%		Paid Off - 180		01-Jul-2005
1000223055 2			215,200.00		215,200.00			10-Oct-2005		7.530%		UT - 80.00%		Paid Off - 360		01-Jul-2005
1000223055 2					215,200.00			10-Oct-2005		7.530%		UT - 80.00%		Paid Off - 360		01-Jul-2005
1000223094 1			40,350.00		40,307.61			10-Oct-2005		11.125%		UT - 95.00%		Paid Off - 180		01-Jul-2005
1000223094 1					40,307.61			10-Oct-2005		11.125%		UT - 95.00%		Paid Off - 180		01-Jul-2005
1000223695 1			137,000.00		136,673.60				7.190%		AZ - 100.00%		Paid Off - 360		01-Jul-2005
1000223695 1					136,673.60				7.190%		AZ - 100.00%		Paid Off - 360		01-Jul-2005
1000224254 2			424,000.00		424,000.00				8.310%		DC - 80.00%		Paid Off - 360		01-Aug-2005
1000224254 2					424,000.00				8.310%		DC - 80.00%		Paid Off - 360		01-Aug-2005
1000224342 1			77,000.00		76,896.32			26-Sep-2005		8.000%		AZ - 100.00%		Paid Off - 360		01-Aug-2005
1000224342 1					76,896.32			26-Sep-2005		8.000%		AZ - 100.00%		Paid Off - 360		01-Aug-2005
1000224658 1			128,320.00		128,160.91				8.405%		FL - 80.00%		Paid Off - 360		01-Aug-2005
1000224658 1					128,160.91				8.405%		FL - 80.00%		Paid Off - 360		01-Aug-2005
1000225732 1			46,400.00		46,357.67			27-Sep-2005		9.875%		CA - 100.00%		Paid Off - 180		01-Aug-2005
1000225732 1					46,357.67			27-Sep-2005		9.875%		CA - 100.00%		Paid Off - 180		01-Aug-2005
1000226878 1			41,300.00		41,272.73			05-Oct-2005		11.375%		MN - 100.00%		Paid Off - 180		01-Aug-2005
1000226878 1					41,272.73			05-Oct-2005		11.375%		MN - 100.00%		Paid Off - 180		01-Aug-2005


TOTAL			9,346,730.00		9,326,006.76
TOTAL


Page 22 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


Current
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
Cumulative



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










Page 23 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 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										0.00%		0.00%		0.00%
Avg MDR Since Cut-off										0.00%		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										0.00%		0.00%		0.00%
Avg CDR Since Cut-off										0.00%		0.00%		0.00%


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


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										0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off										0.00%		0.00%		0.00%












Page 24 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution





COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
	Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)



	Conditional Default Rate (CDR): 1-((1-MDR)^12)

	SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))

	Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)(1-MDRn+1)...*(1-MDRm)]^(1/months in period n,m)
	Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

	Average SDA Approximation over period between the nth month and mth month:
	AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))

	Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)
	Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

	Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

	Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
	Dates correspond to distribution dates.




Page 25 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

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

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




TOTAL



Page 26 of 27
Meritage Mortgage Loan Trust 2005-2

Asset Backed Certificates
Asset Backed Certificates
2005-2

October 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
										Group 2		Group 1		Total
						Trigger Event in effect (0=No , 1=Yes)								0
						Stepdown Date has occurred (0 = No, 1=Yes)								0
						Delinquency Percentage								1.224601%
						Ending Balance								629,265,994.92
						Credit Enhancement Percentage (For Step Down)								25.1523%
						Credit Enhancement Percentage (For Trigger)								24.7714%



ADJUSTABLE RATE CERTIFICATE INFORMATION

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ADDITIONAL INFORMATION

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Meritage Mortgage Loan Trust 2005-2 8-K