8-K 1 ace05sd2_10507.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): July 25, 2005 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-SD2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-123741-04 Pooling and Servicing Agreement) (Commission 54-2176704 (State or other File Number) 54-2176705 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 July 25, 2005 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2005-SD2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-SD2 Trust, relating to the July 25, 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. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-SD2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 7/26/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-SD2 Trust, relating to the July 25, 2005 distribution. EX-99.1

~~UNITED~~ACE ~~STATES~~Securities Corporation Asset Backed Pass-Through Certificates Record Date: 6/30/2005 Distribution Date: 7/25/2005 ACE Securities Corporation Asset Backed Pass-Through Certificates Series ACE 2005-SD2 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 Class CUSIP Description Rate Balance Distribution A-1 004421QD8 SEN 3.72563% 113,125,000.00 304,389.15 M-1 004421QE6 SEN 4.02563% 18,371,000.00 53,411.84 M-2 004421QF3 SEN 4.82563% 10,636,000.00 37,068.34 M-3 004421QG1 SEN 6.32563% 5,640,000.00 25,766.40 M-4 004421QH9 SEN 6.32563% 3,142,000.00 14,354.26 M-5 004421QJ5 SEN 6.32563% 2,417,000.00 11,042.09 CE-1 SEN 0.00000% 7,818,982.03 0.00 CE-2 SEN 0.00000% 0.00 0.00 P ACE05SD2P SEN 0.00000% 100.00 85,026.00 R ACE5SD2R1 SEN 0.00000% 0.00 0.00 Totals 161,150,082.03 531,058.08

~~SECURITIES~~Certificateholder ~~AND~~Distribution ~~EXCHANGE~~Summary ~~COMMISSION~~(continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 7,736,963.69 0.00 105,388,036.31 8,041,352.84 0.00 M-1 0.00 0.00 18,371,000.00 53,411.84 0.00 M-2 0.00 0.00 10,636,000.00 37,068.34 0.00 M-3 0.00 0.00 5,640,000.00 25,766.40 0.00 M-4 0.00 0.00 3,142,000.00 14,354.26 0.00 M-5 0.00 0.00 2,417,000.00 11,042.09 0.00 CE-1 0.00 0.00 8,611,579.52 0.00 0.00 CE-2 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 100.00 85,026.00 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 7,736,963.69 0.00 154,205,715.83 8,268,021.77 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties.

~~Washington~~Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 113,125,000.00 D113,125,000.C00 0.00 ~~20549~~7,736,963.69 0.00 0.00 M-1 18,371,000.00 18,371,000.00 0.00 0.00 0.00 0.00 M-2 10,636,000.00 10,636,000.00 0.00 0.00 0.00 0.00 M-3 5,640,000.00 5,640,000.00 0.00 0.00 0.00 0.00 M-4 3,142,000.00 3,142,000.00 0.00 0.00 0.00 0.00 M-5 2,417,000.00 2,417,000.00 0.00 0.00 0.00 0.00 CE-1 7,818,982.03 7,818,982.03 0.00 0.00 0.00 0.00 CE-2 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 161,150,082.03 161,150,082.03 0.00 7,736,963.69 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.

~~Form~~Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 7,736,963.69 105,388,036.31 0.93160695 7,736,963.69 M-1 0.00 18,371,000.00 1.00000000 0.00 M-2 0.00 10,636,000.00 1.00000000 0.00 M-3 0.00 5,640,000.00 1.00000000 0.00 M-4 0.00 3,142,000.00 1.00000000 0.00 M-5 0.00 2,417,000.00 1.00000000 0.00 CE-1 0.00 8,611,579.52 1.10136837 0.00 CE-K2 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 7,736,963.69 154,205,715.83 0.95690746 7,736,963.69

~~CURRENT~~Principal ~~REPORT~~Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 113,125,000.00 1000.00000000 0.00000000 68.39304919 0.00000000 M-1 18,371,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 10,636,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 5,640,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 3,142,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 2,417,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE-1 7,818,982.03 1000.00000000 0.00000000 0.00000000 0.00000000 CE-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000

~~Pursuant~~Principal toDistribution ~~Section~~Factors 13Statement or(continued) 15Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (d3) ofReduction Balance Percentage Distribution A-1 0.00000000 68.39304919 931.60695081 0.93160695 68.39304919 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 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE-1 0.00000000 0.00000000 1,101.36837340 1.10136837 0.00000000 CE-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 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.

~~Securities~~Interest ~~Exchange~~Distribution ~~Act~~Statement Beginning Payment of ~~1934~~Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 113,125,000.00 3.72563% 113,125,000.00 304,389.15 0.00 0.00 M-1 18,371,000.00 4.02563% 18,371,000.00 53,411.84 0.00 0.00 M-2 10,636,000.00 4.82563% 10,636,000.00 37,068.34 0.00 0.00 M-3 5,640,000.00 6.32563% 5,640,000.00 25,766.40 0.00 0.00 M-4 3,142,000.00 6.32563% 3,142,000.00 14,354.26 0.00 0.00 M-5 2,417,000.00 6.32563% 2,417,000.00 11,042.09 0.00 0.00 CE-1 7,818,982.03 0.00000% 7,818,982.03 0.00 0.00 0.00 CE-2 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 161,150,082.03 446,032.08 0.00 0.00

~~Date~~Interest ofDistribution ~~Report~~Statement (~~Date~~continued) ofRemaining ~~earliest~~Ending ~~event~~Non-Supported ~~reported~~Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4): ~~June~~Distribution 29Shortfall Balance A-1 0.00 0.00 304,389.15 ~~2005~~0.00 105,388,036.31 M-1 0.00 0.00 53,411.84 0.00 18,371,000.00 M-2 0.00 0.00 37,068.34 0.00 10,636,000.00 M-3 0.00 0.00 25,766.40 0.00 5,640,000.00 M-4 0.00 0.00 14,354.26 0.00 3,142,000.00 M-5 0.00 0.00 11,042.09 0.00 2,417,000.00 CE-1 0.00 0.00 0.00 0.00 8,611,579.52 CE-2 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 85,026.00 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 531,058.08 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.

~~ACE~~Interest ~~SECURITIES~~Distribution ~~CORP~~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-1 113,125,000.00 3.72563% 1000.00000000 2.69073282 0.00000000 0.00000000 M-1 18,371,000.00 4.02563% 1000.00000000 2.90739971 0.00000000 0.00000000 M-2 10,636,000.00 4.82563% 1000.00000000 3.48517676 0.00000000 0.00000000 M-3 5,640,000.00 6.32563% 1000.00000000 4.56851064 0.00000000 0.00000000 M-4 3,142,000.00 6.32563% 1000.00000000 4.56851050 0.00000000 0.00000000 M-5 2,417,000.00 6.32563% 1000.00000000 4.56851055 0.00000000 0.00000000 CE-1 7,818,982.03 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 CE-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (ascontinued) ~~depositor~~Remaining ~~under~~Ending ~~the~~Non-Supported ~~Pooling~~Total ~~and~~Unpaid ~~Servicing~~Certificate/ ~~Agreement~~Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 2.69073282 0.00000000 931.60695081 M-1 0.00000000 0.00000000 2.90739971 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.48517676 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 4.56851064 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 4.56851050 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 4.56851055 0.00000000 1000.00000000 CE-1 0.00000000 0.00000000 0.00000000 0.00000000 1101.36837340 CE-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 850260.00000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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.

~~dated~~CERTIFICATEHOLDER asACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of ~~May~~Interest 31and Principal 7,892,430.15 ~~2005~~Liquidations, ~~providing~~Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 366,842.79 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 85,026.00 Total Deposits 8,344,298.94 Withdrawals Reimbursement for ~~the~~Servicer ~~issuance~~Advances 0.00 Payment of Service Fee 76,277.17 Payment of Interest and Principal 8,268,021.77 Total Withdrawals (Pool Distribution Amount) 8,344,298.94 Ending Balance 0.00

~~ACE~~PREPAYMENT/CURTAILMENT ~~Securities~~INTEREST ~~Corp.~~SHORTFALL ~~Home~~Total ~~Equity~~Prepayment/Curtailment ~~Loan~~Interest ~~Trust,~~Shortfall ~~Series~~0.00 ~~2005-SD2,~~Servicing ~~Asset-Backed~~Fee ~~Pass~~Support 0.00 Non-~~Through~~Supported Prepayment/Curtailment Interest Shortfall 0.00

~~Certificates)~~SERVICING FEES Gross Servicing Fee 66,541.02 Credit Risk Manager Fee- Risk Management Group, LLC 2,685.83 Master Servicing Fee 7,050.32 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 76,277.17

~~ACE~~OTHER ~~Securities~~ACCOUNTS ~~Corp~~Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 0.00 0.00 1,000.00

~~(Exact~~LOAN ~~name~~STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of ~~registrant~~Loans asNo ~~specified~~of inLoans ~~its~~No ~~charter)~~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 205 0 0 0 205 19,602,250.10 0.00 0.00 0.00 19,602,250.10 60 Days 105 0 0 0 105 10,047,277.85 0.00 0.00 0.00 10,047,277.85 90 Days 29 0 0 0 29 2,423,539.10 0.00 0.00 0.00 2,423,539.10 120 Days 29 0 0 0 29 2,904,338.31 0.00 0.00 0.00 2,904,338.31 150 Days 21 0 0 0 21 1,791,427.86 0.00 0.00 0.00 1,791,427.86 180+ Days 103 0 0 0 103 8,311,930.02 0.00 0.00 0.00 8,311,930.02 Totals 492 0 0 0 492 45,080,763.24 0.00 0.00 0.00 45,080,763.24 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 12.991128% 0.000000% 0.000000% 0.000000% 12.991128% 12.709031% 0.000000% 0.000000% 0.000000% 12.709031% 60 Days 6.653992% 0.000000% 0.000000% 0.000000% 6.653992% 6.514108% 0.000000% 0.000000% 0.000000% 6.514108% 90 Days 1.837769% 0.000000% 0.000000% 0.000000% 1.837769% 1.571291% 0.000000% 0.000000% 0.000000% 1.571291% 120 Days 1.837769% 0.000000% 0.000000% 0.000000% 1.837769% 1.883015% 0.000000% 0.000000% 0.000000% 1.883015% 150 Days 1.330798% 0.000000% 0.000000% 0.000000% 1.330798% 1.161464% 0.000000% 0.000000% 0.000000% 1.161464% 180+ Days 6.527250% 0.000000% 0.000000% 0.000000% 6.527250% 5.389003% 0.000000% 0.000000% 0.000000% 5.389003% Totals 31.178707% 0.000000% 0.000000% 0.000000% 31.178707% 29.227911% 0.000000% 0.000000% 0.000000% 29.227911%

Delinquency Status By Groups

Delaware	333-123741-04	56-2088493
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)
6525 Morrison Blvd., Suite 318, Charlotte, North Carolina	28211
(Address of Principal Executive Offices)	(Zip Code)

~~Registrant’s~~OTHER ~~telephone~~INFORMATION ~~number,~~Current ~~including~~Period ~~area~~Class ~~code:~~A ~~704-365-0569~~Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 366,842.79

~~Check~~SUBORDINATION ~~the~~LEVEL/CREDIT ~~appropriate~~ENHANCEMENT/CLASS ~~box~~PERCENTAGE ~~below~~AND ifPREPAYMENT ~~the~~PERCENTAGE ~~Form~~Current 8Original $ Original % Current $ Current % Class% Prepayment% Class M-K1 ~~filing~~29,654,082.03 is18.40153083% ~~intended~~30,446,679.52 to19.74419648% ~~simultaneously~~11.913307% ~~satisfy~~0.000000% ~~the~~Class ~~filing~~M-2 ~~obligation~~19,018,082.03 of11.80147214% ~~the~~19,810,679.52 ~~registrant~~12.84691648% ~~under~~6.897280% ~~any~~0.000000% ofClass ~~the~~M-3 ~~following~~13,378,082.03 ~~provisions~~8.30162905% ~~(see~~14,170,679.52 ~~General~~9.18946450% ~~Instruction~~3.657452% A0.000000% Class M-4 10,236,082.03 6.35189378% 11,028,679.52 7.15192654% 2.037538% ~~below):~~0.000000% Class CE-1 100.00 0.00006205% 100.00 0.00006485% 5.584475% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000065% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

REO Detail - All Mortgage Loans in REO during Current Period

~~[_]~~Summary ~~Written~~12 ~~communications~~Month ~~pursuant~~REO toHistory* ~~Rule~~New ~~425~~REO ~~under~~Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal Balance 0.00 Sep-04 0.000% Current Principal Balance 0.00 Oct-04 0.000% Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 Feb-05 0.000% Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% *The text reported in the ~~Securities~~above ~~Act~~table ~~(17~~is ~~CFR~~presented ~~230~~graphically on the monthly bond remittance report.~~425)~~ The monthly bond remittance report can be viewed online at www.ctslink.com. Group 1 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal Balance 0.00 Sep-04 0.000% Current Principal Balance 0.00 Oct-04 0.000% Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 Feb-05 0.000% Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal Balance 0.00 Sep-04 0.000% Current Principal Balance 0.00 Oct-04 0.000% Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 Feb-05 0.000% Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

~~[_]~~REO ~~Soliciting~~Loan ~~material~~Detail ~~pursuant~~- toAll ~~Rule~~Mortgage ~~14a-12(b)~~Loans ~~under~~in ~~the~~REO ~~Exchange~~during ~~Act~~Current ~~(17~~Period ~~CFR~~Month ~~240~~Loan First Original Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance No REO loans this period.~~14a-12(b))~~

~~[_]~~REO ~~Pre~~Loan Detail -~~commencement~~ ~~communications~~All ~~pursuant~~Mortgage toLoans ~~Rule~~in ~~14d-2~~REO during Current Period (bcontinued) ~~under~~Current ~~the~~Paid ~~Exchange~~Current ~~Act~~Approximate ~~(17~~Loan ~~CFR~~Principal ~~240~~To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No REO loans this period.~~14d-2(b))~~

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

~~[_]~~Summary ~~Pre~~12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Aug-~~commencement~~04 ~~communications~~0.000% ~~pursuant~~Original toPrincipal ~~Rule~~Balance ~~13e~~0.00 Sep-~~4(c)~~04 ~~under~~0.000% Current Principal Balance 0.00 Oct-04 0.000% Nov-04 0.000% Current Foreclosure Total Dec-04 0.000% Loans in Foreclosure 0 Jan-05 0.000% Original Principal Balance 0.00 Feb-05 0.000% Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% *The text reported in the ~~Exchange~~above ~~Act~~table ~~(17~~is ~~CFR~~presented ~~240~~graphically on the monthly bond remittance report.~~13e~~ The monthly bond remittance report can be viewed online at www.ctslink.com. Group 1 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Aug-~~4(c))~~04 0.000% Original Principal Balance 0.00 Sep-04 0.000% Current Principal Balance 0.00 Oct-04 0.000% Nov-04 0.000% Current Foreclosure Total Dec-04 0.000% Loans in Foreclosure 0 Jan-05 0.000% Original Principal Balance 0.00 Feb-05 0.000% Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 2 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Aug-04 0.000% Original Principal Balance 0.00 Sep-04 0.000% Current Principal Balance 0.00 Oct-04 0.000% Nov-04 0.000% Current Foreclosure Total Dec-04 0.000% Loans in Foreclosure 0 Jan-05 0.000% Original Principal Balance 0.00 Feb-05 0.000% Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

~~Item~~Foreclosure ~~2.01~~Loan ~~Completion~~Detail of- ~~Acquisition~~All orMortgage ~~Disposition~~Loans ofin ~~Assets~~Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance No Foreclosure loans this period.

~~Description~~Foreclosure ofLoan ~~the~~Detail ~~Certificates~~- ~~and~~All ~~the~~ Mortgage ~~Pool~~Loans in Foreclosure during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No Foreclosure loans this period.

OnCOLLATERAL ~~June~~STATEMENT ~~29,~~Collateral ~~2005,~~Description aMixed ~~series~~Fixed of& ~~certificates,~~Arm ~~entitled~~Weighted ~~ACE~~Average ~~Securities~~Gross ~~Corp~~Coupon 9.791427% ~~Home~~Weighted ~~Equity~~Average ~~Loan~~Net ~~Trust,~~Coupon ~~Series~~9.295931% ~~2005-SD2,~~Weighted ~~Asset-Backed~~Average Pass-Through ~~Certificates~~Rate ~~(the~~9.223143% ~~“Certificates”),~~Weighted ~~were~~Average ~~issued pursuant to a pooling and servicing agreement, dated as of May 31, 2005~~ Maturity(~~the~~Stepdown ~~“Agreement”~~Calculation), ~~attached~~297 ~~hereto~~Beginning asScheduled ~~Exhibit~~Collateral ~~4.1,~~Loan ~~among~~Count ~~ACE Securities Corp. as depositor (the “Depositor”)~~1,627 ~~Wells~~Number ~~Fargo~~Of ~~Bank,~~Loans ~~N.A.~~Paid asIn ~~master~~Full ~~servicer~~49 ~~and~~Ending ~~securities~~Scheduled ~~administrator~~Collateral ~~(the~~Loan ~~“Master~~Count ~~Servicer and Securities Administrator”)~~1,578 ~~Wells~~Beginning ~~Fargo~~Scheduled ~~Bank,~~Collateral ~~N.A.~~Balance ~~as a servicer~~161, ~~Ocwen Federal Bank FSB as a servicer and HSBC Bank USA~~150, ~~National Association as trustee (the “Trustee”)~~082. ~~The~~03 ~~Certificates~~Ending ~~consist~~Scheduled ofCollateral ~~ten~~Balance ~~classes of certificates (collectively~~154, ~~the “Certificates”)~~205,715.83 ~~designated~~Ending asActual ~~the~~Collateral ~~“Class~~Balance ~~A-1~~at ~~Certificates”, “Class M~~30-~~1 Certificates”, “Class M~~Jun-~~2 Certificates”,~~2005 ~~“Class M-3 Certificates”~~154, ~~“Class M-4 Certificates”~~238,744.15 ~~“Class~~Monthly ~~M-5~~P&I ~~Certificates”,~~Constant ~~“Class CE-~~1 ~~Certificates”~~, ~~“Class CE-2 Certificates”~~391,101.26 ~~“Class~~Special PServicing ~~Certificates”~~Fee ~~and “Class R Certificates”~~0. ~~The~~00 ~~Certificates~~Prepayment ~~evidence~~Penalties ~~in the aggregate the entire beneficial ownership interest in a trust fund (the “Trust Fund”)~~85,026.00 ~~generally~~Realized ~~consisting~~Loss ofAmount a0.00 ~~pool~~Cumulative ofRealized ~~mortgage~~Loss ~~loans~~0.00 ~~(the~~Scheduled ~~“Mortgage~~Principal ~~Pool’”) of one- to four- family~~267, ~~adjustable rate and fixed rate, first lien and second lien mortgage loans having original terms to maturity up to 45 years (the “Mortgage Loans”)~~479. ~~The~~34 ~~Mortgage~~Unscheduled ~~Pool~~Principal ~~consists of Mortgage Loans having an aggregate principal balance of approximately $161~~6,~~146~~676,~~191~~886.86 asRequired ofOvercollateralization ~~May~~Amount ~~31, 2005 (the “Cut-off Date”)~~0. ~~The~~00 ~~Mortgage~~Overcollateralized ~~Loans~~Increase ~~were~~Amount ~~purchased pursuant to the Mortgage Loan Purchase Agreement~~792, ~~dated June 29, 2005, between DB Structured Products, Inc~~597.49 asOvercollateralized ~~seller~~reduction ~~and~~Amount ~~the Depositor (the “Mortgage Loan Purchase Agreement”)~~0. ~~The~~00 ~~Class~~Specified ~~A-1A~~O/C ~~Certificates,~~Amount ~~Class M-1 Certificates~~11, ~~Class M-2 Certificates~~763,671.93 ~~Class~~Overcollateralized ~~M-3~~Amount Certificates, Class M-4 Certificates and Class M-5 Certificates were sold by Depositor pursuant to the Amended and Restated Underwriting Agreement, dated June 24, 1999, as amended and restated to and including July 8, ~~2002~~611, ~~between the Depositor and Deutsche Bank Securities Inc~~579.,52 ~~and~~Overcollateralized ~~the~~Deficiency ~~Terms~~Amount ~~Agreement~~3, ~~dated June 27~~152,092.40 ~~2005~~Base ~~between~~Overcollateralized ~~the~~Amount ~~Depositor~~0.00 ~~and~~Extra ~~Deutsche~~principal ~~Bank~~distribution ~~Securities~~Amount ~~Inc~~792,597.49 ~~(collectively,~~Excess ~~the~~Cash ~~“Underwriting~~Amount ~~Agreement”)~~0.00

~~The~~Prepayment ~~Certificates~~Detail ~~have~~- ~~the~~Prepayments ~~following~~during ~~initial~~Current ~~Certificate~~Period ~~Balances~~Summary ~~and~~Loans ~~Pass-Through~~Paid ~~Rates:~~In Full Repurchased Loans Original Current Original Current Principal Principal Principal Principal Group Count Balance Balance Count Balance Balance Group 1 31 2,503,311.00 2,379,717.01 0 0.00 0.00 Group 2 18 4,440,166.00 4,368,044.56 0 0.00 0.00 Total 49 6,943,477.00 6,747,761.57 0 0.00 0.00

Class	Initial Certificate Principal Balance(1)	Pass-Through Rate
A-1	$ 113,125,000	One-Month LIBOR + 0.40%(2)(3)
M-1	$ 18,371,000	One-Month LIBOR + 0.70% (2)(3)
M-2	$ 10,636,000	One-Month LIBOR + 1.50% (2)(3)
M-3	$ 5,640,000	One-Month LIBOR + 3.00% (2)(3)
M-4	$ 3,142,000	One-Month LIBOR + 3.00% (2)(3)
M-5	$ 2,417,000	One-Month LIBOR + 3.00% (2)(3)

~~______________________~~Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Group 1 0110252111 IL 73.16 01-Oct-1999 139,000.00 134,211.48 Group 1 0110260258 CA 95.00 01-Dec-1997 249,650.00 227,330.19 Group 1 0110268674 OH 92.69 01-Nov-2003 203,000.00 200,382.07 Group 1 0110287192 IN 100.32 15-Sep-2001 15,000.00 13,023.25 Group 1 0110367504 OH 79.38 15-Jul-1999 142,889.00 135,537.49 Group 1 0110367961 MI 100.00 20-Oct-2000 70,231.00 66,801.33 Group 1 0110368695 KY 89.39 02-Aug-1998 39,330.00 0.00 Group 1 0110369234 OH 100.00 15-Jun-1997 17,952.00 0.00 Group 1 0110369279 OH 100.00 22-May-1998 10,504.00 0.00 Group 1 0110369289 OH 90.46 15-Nov-1997 59,249.00 0.00 Group 1 0110369580 FL 90.00 19-Dec-1998 41,400.00 40,465.57 Group 1 0110369630 TN 95.72 12-Feb-2000 153,151.00 150,215.51 Group 1 0110369836 KS 75.88 01-Mar-2000 56,302.00 54,909.01 Group 1 0110407757 FL 74.29 01-May-2001 52,000.00 43,032.64 Group 1 0110407767 SC 85.00 01-Oct-2003 131,750.00 129,832.64 Group 1 0110408626 IL 83.86 01-May-1999 187,000.00 178,635.26 Group 1 0110408854 PA 84.47 01-Jan-2001 198,500.00 192,377.44 Group 1 0110408882 AL 89.98 01-Mar-2001 44,900.00 44,143.21 Group 1 0110409002 CT 100.00 01-Sep-2001 43,000.00 37,542.62 Group 1 0110409203 AR 90.00 01-Aug-2004 62,100.00 61,511.64 Group 1 0110409977 KS 85.00 30-Sep-2002 140,250.00 137,634.27 Group 1 0110411153 IN 96.43 01-Jul-2002 67,500.00 66,324.99 Group 1 0110411194 TN 85.00 08-Jun-2002 52,700.00 51,668.19 Group 1 0110411272 PA 86.96 01-Apr-2002 100,000.00 97,495.16 Group 1 0110423645 MD 95.00 01-May-2004 10,150.00 9,483.02 Group 1 0110426228 WA 100.00 01-May-2004 35,814.00 35,039.06 Group 1 0110426252 MN 100.01 01-Mar-2004 32,946.00 32,181.66 Group 1 0110435173 CA 95.00 01-Oct-2004 56,643.00 56,433.24 Group 1 0110465026 IL 85.00 01-Feb-2005 13,350.00 13,074.47 Group 1 0110475891 MD 100.00 01-Dec-2004 48,400.00 48,153.73 Group 1 0110475922 AZ 100.00 01-Jan-2005 28,650.00 28,593.55 Group 2 0110172945 WA 79.12 01-Nov-1999 144,000.00 138,906.23 Group 2 0110206903 CT 73.68 01-Apr-1987 119,000.00 75,344.40 Group 2 0110306006 VA 85.00 01-May-2004 270,567.00 267,247.52 Group 2 0110331776 NY 80.00 01-Sep-2004 212,000.00 208,838.63 Group 2 0110370009 MO 80.00 01-Jul-1999 45,600.00 43,825.44 Group 2 0110370165 NM 80.00 01-Jun-1999 128,800.00 120,859.40 Group 2 0110388179 CA 70.00 01-Dec-2004 390,600.00 389,388.72 Group 2 0110407769 NV 95.00 01-Jan-2003 121,600.00 118,243.80 Group 2 0110423436 CA 80.00 01-Dec-2004 404,000.00 403,998.20 Group 2 0110423534 CA 75.00 01-Aug-2004 95,999.00 95,141.39 Group 2 0110426261 CA 90.00 01-Aug-2004 369,000.00 368,895.80 Group 2 0110426300 CA 80.00 01-Jun-2004 214,000.00 214,000.00 Group 2 0110426341 CA 86.15 01-Jan-2005 318,750.00 318,750.00 Group 2 0110433503 FL 85.00 01-Aug-2004 89,250.00 88,632.40 Group 2 0110435176 CA 68.50 01-Nov-2004 650,000.00 650,000.00 Group 2 0110465892 CA 80.00 01-Nov-2004 336,000.00 334,034.12 Group 2 0110475942 CT 80.00 01-Feb-2005 296,000.00 295,412.19 Group 2 0110475943 NY 73.44 01-Jan-2005 235,000.00 234,255.61

(1)	Approximate.
(2)	The pass-through rate for each class of Offered Certificates will be subject to the Net WAC Pass-Through Rate as described in this prospectus supplement under “Description of the Certificates–Pass-Through Rates.”
(3)	After the optional termination date, the margin applicable to the Class A-1 Certificates will increase by 100% and the margins applicable to the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates will increase by 50%.

Prepayment - Voluntary Prepayments

~~The~~Summary ~~Certificates,~~SMM ~~other~~CPR ~~than~~PSA ~~the~~Current ~~Class~~Month CE4.150% Current Month 39.869% Current Month 664.487% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Aug-1,2004 ~~Class~~N/A CEN/A Aug-2,2004 ~~Class~~N/A PN/A ~~and~~Sep-2004 ~~Class~~N/A RN/A ~~Certificates,~~Sep-2004 ~~and~~N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 39.869% N/A Jul-2005 664.487% N/A *The text reported in the ~~Mortgage~~above ~~Loans~~table ~~are~~is ~~more~~presented ~~particularly~~*The ~~described~~text reported in the ~~Prospectus~~above ~~Supplement,~~table ~~dated~~is ~~June~~presented ~~27,~~graphically ~~2005~~on (the ~~“Prospectus~~monthly ~~Supplement”),~~bond ~~and~~remittance report. The graphically on the ~~Prospectus,~~monthly ~~dated~~bond ~~June~~remittance ~~23,~~report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group 1 SMM CPR PSA Current Month 2.588% Current Month 26.994% Current Month 449.907% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005, asN/A ~~previously~~N/A ~~filed~~Jan-2005 ~~with~~N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 26.994% N/A Jul-2005 449.907% N/A *The text reported in the ~~Securities~~above ~~and~~table ~~Exchange~~is ~~Commission~~presented ~~pursuant~~*The totext ~~Rule~~reported ~~424(b)~~in the above table is presented graphically on the monthly bond remittance report. The ~~Class~~graphically ~~CE-~~on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group 2 SMM CPR PSA Current Month 6.092% Current Month 52.964% Current Month 1,533.545% ~~Class~~3 CEMonth Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Aug-22004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 52.964% N/A Jul-2005 1,533.545% ~~Class~~N/A P*The ~~and~~text reported in the ~~Class~~above Rtable ~~Certificates~~is ~~have~~presented ~~not~~*The ~~been~~text ~~and~~reported ~~will~~in ~~not~~the beabove ~~publicly~~table ~~offered~~is bypresented graphically on the ~~Depositor~~monthly bond remittance report. ~~Capitalized~~ ~~terms~~The ~~used~~graphically ~~but~~on ~~not~~the ~~otherwise~~monthly ~~defined~~bond ~~herein~~remittance ~~shall~~report. ~~have~~The ~~the~~monthly ~~meanings~~bond ~~assigned~~remittance toreport ~~them~~can inbe ~~the~~viewed ~~Prospectus~~online ~~Supplement~~at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled Principal) Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12) PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS)) Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal Balance))

~~SIGNATURES~~Realized Loss Loan Detail Report - Loans With Losses during Current Period Original Current Loan Principal Note LTV at Original Group Number Balance Rate State Origination Term No losses this period.

~~Pursuant~~Realized toLoss ~~the~~Loan ~~requirements~~Detail ofReport ~~the~~- ~~Securities~~Loans ~~Exchange~~With ~~Act~~Losses ofduring ~~1934,~~Current ~~the~~Period ~~registrant~~(continued) ~~has~~Prior ~~duly~~Cumulative ~~caused~~Loan ~~this~~Principal ~~report~~Realized toRealized beGroup ~~signed~~Number onBalance ~~its~~Loss/(Gain) ~~behalf~~Loss/(Gain) byNo ~~the~~losses ~~undersigned~~this ~~thereunto duly authorized~~period.

Realized Loss Report - Collateral Summary

~~Dated~~MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: ~~July~~Current ~~19,~~vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group 1 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group 2 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Monthly Default Rate (MDR): sum(Beg Principal Balance of Liquidated Loans)/ sum(Beg Principal Balance). Conditional Default Rate (CDR): 1-((1-MDR)^12) SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR/(WAS*0.02) else if WAS is greater than 30 and less than or equal to 60 then CDR/0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR/(0.6 - ((WAS-60)*0.0095)) else if WAS is greater than 120 then CDR/0.03 Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

ACE SECURITIES CORP.

By: /s/ Douglas K. Johnson

Name: Douglas K. Johnson

Title: President

By: /s/ Evelyn Echevarria

Name: Evelyn Echevarria

Title: Vice President

Index to Exhibits

Exhibit No.	Description	Sequentially Numbered Page
4.1	Pooling and Servicing Agreement, dated as of May 31, 2005, by and among ACE Securities Corp., as Depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator, Wells Fargo Bank, N.A. as a Servicer, Ocwen Federal Bank FSB as a Servicer and HSBC Bank USA, National Association, as Trustee relating to the Series 2005-SD2 Certificates.	7

Financial Statements and Exhibits

Not applicable

Not applicable

Exhibit No.

Description

Pooling and Servicing Agreement, dated as of May 31, 2005, by and among ACE Securities Corp., as Depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator, Wells Fargo Bank, N.A. as a Servicer, Ocwen Federal Bank FSB as a Servicer and HSBC Bank USA, National Association, as Trustee relating to the Series 2005-SD2 Certificates.

Filing Compare · ACE Securities Corp Home Equity Loan Trust Series 2005-SD2