8-K 1 bsl05001_10506.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 27, 2005 BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2005-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106323-26 Pooling and Servicing Agreement) (Commission 54-2165593 (State or other File Number) 54-2167992 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (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 under the Exchange Act (17 CFR 240.14a-12) [ ] 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 On June 27, 2005 a distribution was made to holders of BEAR STEARNS ALT-A TRUST, Mortgage Pass-Through Certificates, Series 2005-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-1 Trust, relating to the June 27, 2005 distribution. 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. BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2005-1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/28/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-1 Trust, relating to the June 27, 2005 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage ~~Loan~~ Pass-Through Certificates Record Date: 45/2931/2005 Distribution Date: 56/2527/2005 Bear Stearns ALT-A Trust Mortgage ~~Loan~~ Pass-Through Certificates Series 2005-1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest ~~Principal~~ Class CUSIP Description Rate Balance Distribution ~~Distribution~~ A-1 07386HQG9 SEN 3.~~30000~~37000% ~~709~~691,~~582~~693,~~826~~741.4428 12,~~951~~136,~~352~~757.7725 ~~17,889,085.16~~ M-1 07386HQH7 MEZ 3.~~52000~~59000% 23,173,000.00 6776,~~974~~258.1348 ~~0.00~~ M-2 07386HQJ3 MEZ 3.~~77000~~84000% 18,294,000.00 5764,~~473~~394.6588 ~~0.00~~ B-1 07386HQK0 SUB 4.~~32000~~39000% 8,131,000.00 2932,~~271~~720.6050 ~~0.00~~ B-2 07386HQL8 SUB 4.~~92000~~99000% 7,724,000.00 3135,~~668~~330.4086 ~~0.00~~ B-3 07386HQM6 SUB 4.~~92000~~99000% 6,098,000.00 2527,~~001~~893.8027 ~~0.00~~ R 07386HQN4 RES 0.00000% 0.00 0.00 ~~0.00~~ XP 07386HQP9 SEN 0.00000% 100.00 0.00 ~~0.00~~ B-IO 07386HQQ7 IO 0.00000% 4,471,937.00 1,~~440~~143,~~695~~933.5212 ~~0.00~~ Totals ~~777~~759,~~474~~585,~~863~~778.4428 3,~~603~~517,~~437~~288.~~87 17,889,085.16~~36

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 20,591,607.21 0.00 ~~691~~671,~~693~~102,~~741~~134.2807 1922,~~840~~728,~~437~~364.9346 0.00 M-1 0.00 0.00 23,173,000.00 6776,~~974~~258.1348 0.00 M-2 0.00 0.00 18,294,000.00 5764,~~473~~394.6588 0.00 B-1 0.00 0.00 8,131,000.00 2932,~~271~~720.6050 0.00 B-2 0.00 0.00 7,724,000.00 3135,~~668~~330.4086 0.00 B-3 0.00 0.00 6,098,000.00 2527,~~001~~893.8027 0.00 R 0.00 0.00 0.00 0.00 0.00 XP 0.00 0.00 100.00 0.00 0.00 B-IO 0.00 0.00 4,471,937.00 1,~~440~~143,~~695~~933.5212 0.00 Totals 20,591,607.21 0.00 ~~759~~738,~~585~~994,~~778~~171.2807 2124,~~492~~108,~~523~~895.0357 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 745,187,000.00 ~~709~~691,~~582~~693,~~826~~741.4428 0.00 1720,~~889~~591,~~085~~607.1621 0.00 0.00 M-1 23,173,000.00 23,173,000.00 0.00 0.00 0.00 0.00 M-2 18,294,000.00 18,294,000.00 0.00 0.00 0.00 0.00 B-1 8,131,000.00 8,131,000.00 0.00 0.00 0.00 0.00 B-2 7,724,000.00 7,724,000.00 0.00 0.00 0.00 0.00 B-3 6,098,000.00 6,098,000.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 B-IO 4,472,506.10 4,471,937.00 0.00 0.00 0.00 0.00 Totals 813,079,606.10 ~~777~~759,~~474~~585,~~863~~778.4428 0.00 1720,~~889~~591,~~085~~607.1621 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 1720,~~889~~591,~~085~~607.1621 ~~691~~671,~~693~~102,~~741~~134.2807 0.~~92821499~~90058218 1720,~~889~~591,~~085~~607.1621 M-1 0.00 23,173,000.00 1.00000000 0.00 M-2 0.00 18,294,000.00 1.00000000 0.00 B-1 0.00 8,131,000.00 1.00000000 0.00 B-2 0.00 7,724,000.00 1.00000000 0.00 B-3 0.00 6,098,000.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 XP 0.00 100.00 1.00000000 0.00 B-IO 0.00 4,471,937.00 0.99987276 0.00 Totals 1720,~~889~~591,~~085~~607.1621 ~~759~~738,~~585~~994,~~778~~171.2807 0.~~93420838~~90888293 1720,~~889~~591,~~085~~607.1621

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 745,187,000.00 ~~952~~928.~~22115582~~21498668 0.00000000 2427.~~00616914~~63280520 0.00000000 M-1 23,173,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 18,294,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 8,131,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 7,724,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 6,098,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 4,472,506.10 999.87275590 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 2427.~~00616914~~63280520 ~~928~~900.~~21498668~~58218148 0.~~92821499~~90058218 2427.~~00616914~~63280520 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 999.87275590 0.99987276 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 745,187,000.00 3.~~30000~~37000% ~~709~~691,~~582~~693,~~826~~741.4428 12,~~951~~136,~~352~~757.7725 0.00 0.00 M-1 23,173,000.00 3.~~52000~~59000% 23,173,000.00 6776,~~974~~258.1348 0.00 0.00 M-2 18,294,000.00 3.~~77000~~84000% 18,294,000.00 5764,~~473~~394.6588 0.00 0.00 B-1 8,131,000.00 4.~~32000~~39000% 8,131,000.00 2932,~~271~~720.6050 0.00 0.00 B-2 7,724,000.00 4.~~92000~~99000% 7,724,000.00 3135,~~668~~330.4086 0.00 0.00 B-3 6,098,000.00 4.~~92000~~99000% 6,098,000.00 2527,~~001~~893.8027 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 B-IO 4,472,506.10 0.00000% ~~777~~759,~~474~~585,~~763~~678.4428 0.00 0.00 0.00 Totals 813,079,606.10 2,~~162~~373,~~742~~355.3524 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 12,~~951~~136,~~352~~757.7725 0.00 ~~691~~671,~~693~~102,~~741~~134.2807 M-1 0.00 0.00 6776,~~974~~258.1348 0.00 23,173,000.00 M-2 0.00 0.00 5764,~~473~~394.6588 0.00 18,294,000.00 B-1 0.00 0.00 2932,~~271~~720.6050 0.00 8,131,000.00 B-2 0.00 0.00 3135,~~668~~330.4086 0.00 7,724,000.00 B-3 0.00 0.00 2527,~~001~~893.8027 0.00 6,098,000.00 R 0.00 0.00 0.00 0.00 0.00 XP 0.00 0.00 0.00 0.00 100.00 B-IO 0.00 0.00 1,~~440~~143,~~695~~933.5212 0.00 ~~759~~738,~~585~~994,~~678~~071.2807 Totals 0.00 0.00 3,~~603~~517,~~437~~288.8736 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 745,187,000.00 3.~~30000~~37000% ~~952~~928.~~22115582~~21498668 2.~~61860817~~86741080 0.00000000 0.00000000 M-1 23,173,000.00 3.~~52000~~59000% 1000.00000000 23.~~93333319~~29083330 0.00000000 0.00000000 M-2 18,294,000.00 3.~~77000~~84000% 1000.00000000 3.~~14166667~~52000000 0.00000000 0.00000000 B-1 8,131,000.00 4.~~32000~~39000% 1000.00000000 34.~~60000000~~02416677 0.00000000 0.00000000 B-2 7,724,000.00 4.~~92000~~99000% 1000.00000000 4.~~10000000~~57416624 0.00000000 0.00000000 B-3 6,098,000.00 4.~~92000~~99000% 1000.00000000 4.~~10000000~~57416694 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 4,472,506.10 0.00000% ~~173834~~169834.~~25445524~~46445831 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 2.~~61860817~~86741080 0.00000000 ~~928~~900.~~21498668~~58218148 M-1 0.00000000 0.00000000 23.~~93333319~~29083330 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.~~14166667~~52000000 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 34.~~60000000~~02416677 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 4.~~10000000~~57416624 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 4.~~10000000~~57416694 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 XP 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 ~~322~~255.~~12265065~~77005250 0.00000000 ~~169834~~165230.~~46445831~~42217203 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2124,~~734~~170,~~725~~020.0487 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 25122,~~611~~733.5628 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2124,~~760~~292,~~336~~754.6015 Withdrawals Reimbursement for Servicer Advances ~~105~~25,~~839~~611.6656 Payment of Service Fee ~~161~~158,~~973~~247.9102 Payment of Interest and Principal 2124,~~492~~108,~~523~~895.0357 Total Withdrawals (Pool Distribution Amount) 2124,~~760~~292,~~336~~754.6015 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~161~~158,~~973~~247.9102 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~161~~158,~~973~~247.9102

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT ~~DELINQUENCY STATUS~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 065 0 0 0 065 017,243,798.0066 0.00 0.00 0.00 017,243,798.0066 60 Days 1116 0 0 0 1116 34,~~265~~653,~~175~~062.9667 0.00 0.00 0.00 34,~~265~~653,~~175~~062.9667 90 Days 26 10 0 0 36 ~~623~~1,~~933~~652,229.4405 ~~239,900~~0.00 0.00 0.00 ~~863~~1,~~833~~652,229.4405 120 Days 1 01 01 0 13 ~~296~~101,~~256~~483.9946 0239,900.00 0297,737.0091 0.00 ~~296~~639,~~256~~121.9937 150 Days 10 0 20 0 30 ~~172,000~~0.00 0.00 ~~620,000~~0.00 0.00 ~~792,000~~0.00 180+ Days 01 0 02 0 03 0172,000.00 0.00 0620,000.00 0.00 0792,000.00 Totals 1589 1 23 0 1893 423,~~357~~822,~~366~~573.3984 239,900.00 ~~620~~917,~~000~~737.0091 0.00 524,~~217~~980,~~266~~211.3975 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 02.~~000000~~059569% 0.000000% 0.000000% 0.000000% 02.~~000000~~059569% 02.~~000000~~333145% 0.000000% 0.000000% 0.000000% 02.~~000000~~333145% 60 Days 0.~~340768~~506971% 0.000000% 0.000000% 0.000000% 0.~~340768~~506971% 0.~~429815~~629575% 0.000000% 0.000000% 0.000000% 0.~~429815~~629575% 90 Days 0.~~061958~~190114% 0.~~030979~~000000% 0.000000% 0.000000% 0.~~092937~~190114% 0.~~082132~~223552% 0.~~031580~~000000% 0.000000% 0.000000% 0.~~113712~~223552% 120 Days 0.~~030979~~031686% 0.~~000000~~031686% 0.~~000000~~031686% 0.000000% 0.~~030979~~095057% 0.~~038998~~013731% 0.~~000000~~032459% 0.~~000000~~040285% 0.000000% 0.~~038998~~086475% 150 Days 0.~~030979~~000000% 0.000000% 0.~~061958~~000000% 0.000000% 0.~~092937~~000000% 0.~~022641~~000000% 0.000000% 0.~~081614~~000000% 0.000000% 0.~~104256~~000000% 180+ Days 0.~~000000~~031686% 0.000000% 0.~~000000~~063371% 0.000000% 0.~~000000~~095057% 0.~~000000~~023272% 0.000000% 0.~~000000~~083888% 0.000000% 0.~~000000~~107160% Totals 02.~~464684~~820025% 0.~~030979~~031686% 0.~~061958~~095057% 0.000000% 02.~~557621~~946768% 03.~~573587~~223276% 0.~~031580~~032459% 0.~~081614~~124173% 0.000000% 03.~~686781~~379908%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 25122,~~611~~733.5628

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 5.~~811756~~806642% Weighted Average Net Coupon 5.~~561756~~556642% Weighted Average Pass-Through Rate 5.~~561756~~556642% Weighted Average Maturity(Stepdown Calculation ) ~~355~~354 Beginning Scheduled Collateral Loan Count 3,~~298~~228 Number Of Loans Paid In Full 7072 Ending Scheduled Collateral Loan Count 3,~~228~~156 Beginning Scheduled Collateral Balance ~~777~~759,~~474~~585,~~763~~678.4428 Ending Scheduled Collateral Balance ~~759~~738,~~585~~994,~~678~~071.2807 Ending Actual Collateral Balance at 2931-~~Apr~~May-2005 ~~759~~739,~~669~~079,~~481~~625.7117 Monthly P &I Constant 3,~~873~~782,~~357~~066.8815 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~107~~106,~~946~~531.5523 Unscheduled Principal 1720,~~781~~485,~~138~~075.6198 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 4,471,937.00 Overcollateralized Amount 4,471,937.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 1,~~440~~143,~~695~~933.5212

Filing Compare · Bear Stearns BSALTA 2005-1