8-K 1 pch05002_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 PEOPLE'S CHOICE HOME LOAN SECURITIES CORP. Mortgage-Backed Notes, Series 2005-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-119899-02 N/A Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction 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 PEOPLE'S CHOICE HOME LOAN SECURITIES CORP., Mortgage-Backed Notes, Series 2005-2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-2 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. PEOPLE'S CHOICE HOME LOAN SECURITIES CORP. Mortgage-Backed Notes, Series 2005-2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 7/28/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-2 Trust, relating to the July 25, 2005 distribution. EX-99.1

People's Choice Home Loan Securities Corp Mortgage-Backed Notes Record Date: 56/3130/2005 Distribution Date: 67/2725/2005 People's Choice Home Loan Securities Corp Mortgage-Backed Notes Series 2005-2 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 1A1 71085PBV4 SEN 3.~~20000~~42438% ~~276~~261,~~278~~283,~~069~~792.1852 ~~810~~695,~~415~~904.6799 1A2 71085PBW2 SEN 3.~~30000~~52438% 288,521,000.00 ~~872~~790,~~776~~889.0328 1A3 71085PBX0 SEN 3.~~44000~~66438% 43,822,000.00 ~~138~~124,~~185~~895.3791 2A1 71085PBY8 SEN 3.~~31000~~53438% ~~197~~193,~~990~~718,~~394~~003.8754 ~~600~~532,~~735~~523.8647 2A2 71085PBZ5 SEN 3.~~36000~~58438% 4948,~~497~~429,~~351~~258.2576 ~~152~~135,~~451~~013.8456 M1 71085PCA9 MEZ 3.~~50000~~72438% 40,205,000.00 ~~128~~116,~~991~~463.0443 M2 71085PCB7 MEZ 3.~~52000~~74438% 35,799,000.00 ~~115~~104,~~511~~257.4427 M3 71085PCC5 MEZ 3.~~57000~~79438% 21,480,000.00 7063,~~293~~391.3044 M4 71085PCD3 MEZ 3.~~72000~~94438% 20,378,000.00 6962,~~488~~516.9867 M5 71085PCE1 MEZ 3.~~74000~~96438% 17,624,000.00 6054,~~420~~341.9596 M6 71085PCF8 MEZ 34.~~79000~~01438% 17,624,000.00 6155,~~228~~027.7134 B1 71085PCG6 SUB 4.~~34000~~56438% 15,421,000.00 6154,~~349~~745.8868 B2 71085PCH4 SUB 4.~~44000~~66438% 13,769,000.00 5649,~~039~~951.8388 B3 71085PCJ0 SUB 45.~~84000~~06438% 12,117,000.00 5347,~~759~~728.0941 B4 71085PCK7 SUB 6.~~09000~~31438% 15,421,000.00 8675,~~087~~735.7338 OT PCH0502OT SEN 0.00000% 0.00 12,~~977~~467,~~823~~570.6854 Totals 1,~~065~~045,~~946~~612,~~815~~054.3082 5,~~315~~430,~~559~~957.4021

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses 1A1 1420,~~994~~129,~~276~~446.6662 0.00 ~~261~~241,~~283~~154,~~792~~345.5290 1520,~~804~~825,~~692~~351.3361 0.00 1A2 0.00 0.00 288,521,000.00 ~~872~~790,~~776~~889.0328 0.00 1A3 0.00 0.00 43,822,000.00 ~~138~~124,~~185~~895.3791 0.00 2A1 48,~~272~~134,~~391~~574.3377 0.00 ~~193~~185,~~718~~583,~~003~~428.5478 48,~~873~~667,~~127~~098.1924 0.00 2A2 12,~~068~~033,~~092~~633.4952 0.00 4846,~~429~~395,~~258~~625.7623 12,~~220~~168,~~544~~647.3308 0.00 M1 0.00 0.00 40,205,000.00 ~~128~~116,~~991~~463.0443 0.00 M2 0.00 0.00 35,799,000.00 ~~115~~104,~~511~~257.4427 0.00 M3 0.00 0.00 21,480,000.00 7063,~~293~~391.3044 0.00 M4 0.00 0.00 20,378,000.00 6962,~~488~~516.9867 0.00 M5 0.00 0.00 17,624,000.00 6054,~~420~~341.9596 0.00 M6 0.00 0.00 17,624,000.00 6155,~~228~~027.7134 0.00 B1 0.00 0.00 15,421,000.00 6154,~~349~~745.8868 0.00 B2 0.00 0.00 13,769,000.00 5649,~~039~~951.8388 0.00 B3 0.00 0.00 12,117,000.00 5347,~~759~~728.0941 0.00 B4 0.00 0.00 15,421,000.00 8675,~~087~~735.7338 0.00 OT 0.00 0.00 0.00 12,~~977~~467,~~823~~570.6854 0.00 Totals 2030,~~334~~297,~~760~~654.4891 0.00 1,~~045~~015,~~612~~314,~~054~~399.8291 2535,~~650~~728,~~319~~612.8812 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) 1A1 281,774,000.00 ~~276~~261,~~278~~283,~~069~~792.1852 0.00 1420,~~994~~129,~~276~~446.6662 0.00 0.00 1A2 288,521,000.00 288,521,000.00 0.00 0.00 0.00 0.00 1A3 43,822,000.00 43,822,000.00 0.00 0.00 0.00 0.00 2A1 200,017,000.00 ~~197~~193,~~990~~718,~~394~~003.8754 0.00 48,~~272~~134,~~391~~574.3377 0.00 0.00 2A2 50,004,000.00 4948,~~497~~429,~~351~~258.2576 0.00 12,~~068~~033,~~092~~633.4952 0.00 0.00 M1 40,205,000.00 40,205,000.00 0.00 0.00 0.00 0.00 M2 35,799,000.00 35,799,000.00 0.00 0.00 0.00 0.00 M3 21,480,000.00 21,480,000.00 0.00 0.00 0.00 0.00 M4 20,378,000.00 20,378,000.00 0.00 0.00 0.00 0.00 M5 17,624,000.00 17,624,000.00 0.00 0.00 0.00 0.00 M6 17,624,000.00 17,624,000.00 0.00 0.00 0.00 0.00 B1 15,421,000.00 15,421,000.00 0.00 0.00 0.00 0.00 B2 13,769,000.00 13,769,000.00 0.00 0.00 0.00 0.00 B3 12,117,000.00 12,117,000.00 0.00 0.00 0.00 0.00 B4 15,421,000.00 15,421,000.00 0.00 0.00 0.00 0.00 Totals 1,073,976,000.00 1,~~065~~045,~~946~~612,~~815~~054.3082 0.00 2030,~~334~~297,~~760~~654.4891 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 1A1 1420,~~994~~129,~~276~~446.6662 ~~261~~241,~~283~~154,~~792~~345.5290 0.~~92728141~~85584314 1420,~~994~~129,~~276~~446.6662 1A2 0.00 288,521,000.00 1.00000000 0.00 1A3 0.00 43,822,000.00 1.00000000 0.00 2A1 48,~~272~~134,~~391~~574.3377 ~~193~~185,~~718~~583,~~003~~428.5478 0.~~96850769~~92783828 48,~~272~~134,~~391~~574.3377 2A2 12,~~068~~033,~~092~~633.4952 4846,~~429~~395,~~258~~625.7623 0.~~96850769~~92783828 12,~~068~~033,~~092~~633.4952 M1 0.00 40,205,000.00 1.00000000 0.00 M2 0.00 35,799,000.00 1.00000000 0.00 M3 0.00 21,480,000.00 1.00000000 0.00 M4 0.00 20,378,000.00 1.00000000 0.00 M5 0.00 17,624,000.00 1.00000000 0.00 M6 0.00 17,624,000.00 1.00000000 0.00 B1 0.00 15,421,000.00 1.00000000 0.00 B2 0.00 13,769,000.00 1.00000000 0.00 B3 0.00 12,117,000.00 1.00000000 0.00 B4 0.00 15,421,000.00 1.00000000 0.00 Totals 2030,~~334~~297,~~760~~654.4891 1,~~045~~015,~~612~~314,~~054~~399.8291 0.~~97358978~~94537904 2030,~~334~~297,~~760~~654.4891

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1A1 281,774,000.00 ~~980~~927.~~49525215~~28141177 0.00000000 5371.~~21384038~~43826833 0.00000000 1A2 288,521,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1A3 43,822,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 2A1 200,017,000.00 ~~989~~968.~~86783558~~50769455 0.00000000 2140.~~36014104~~66941695 0.00000000 2A2 50,004,000.00 ~~989~~968.~~86783557~~50769458 0.00000000 2140.~~36014099~~66941685 0.00000000 M1 40,205,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 35,799,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 21,480,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 20,378,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 17,624,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 17,624,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 15,421,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 13,769,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B3 12,117,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B4 15,421,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 OT 0.00 0.00000000 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 1A1 0.00000000 5371.~~21384038~~43826833 ~~927~~855.~~28141177~~84314344 0.~~92728141~~85584314 5371.~~21384038~~43826833 1A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 2A1 0.00000000 2140.~~36014104~~66941695 ~~968~~927.~~50769455~~83827765 0.~~96850769~~92783828 2140.~~36014104~~66941695 2A2 0.00000000 2140.~~36014099~~66941685 ~~968~~927.~~50769458~~83827754 0.~~96850769~~92783828 2140.~~36014099~~66941685 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 OT 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.

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 1A1 281,774,000.00 3.~~20000~~42438% ~~276~~261,~~278~~283,~~069~~792.1852 ~~810~~695,~~415~~904.6799 0.00 0.00 1A2 288,521,000.00 3.~~30000~~52438% 288,521,000.00 ~~872~~790,~~776~~889.0328 0.00 0.00 1A3 43,822,000.00 3.~~44000~~66438% 43,822,000.00 ~~138~~124,~~185~~895.3791 0.00 0.00 2A1 200,017,000.00 3.~~31000~~53438% ~~197~~193,~~990~~718,~~394~~003.8754 ~~600~~532,~~735~~523.8647 0.00 0.00 2A2 50,004,000.00 3.~~36000~~58438% 4948,~~497~~429,~~351~~258.2576 ~~152~~135,~~451~~013.8456 0.00 0.00 M1 40,205,000.00 3.~~50000~~72438% 40,205,000.00 ~~128~~116,~~991~~463.0443 0.00 0.00 M2 35,799,000.00 3.~~52000~~74438% 35,799,000.00 ~~115~~104,~~511~~257.4427 0.00 0.00 M3 21,480,000.00 3.~~57000~~79438% 21,480,000.00 7063,~~293~~391.3044 0.00 0.00 M4 20,378,000.00 3.~~72000~~94438% 20,378,000.00 6962,~~488~~516.9867 0.00 0.00 M5 17,624,000.00 3.~~74000~~96438% 17,624,000.00 6054,~~420~~341.9596 0.00 0.00 M6 17,624,000.00 34.~~79000~~01438% 17,624,000.00 6155,~~228~~027.7134 0.00 0.00 B1 15,421,000.00 4.~~34000~~56438% 15,421,000.00 6154,~~349~~745.8868 0.00 0.00 B2 13,769,000.00 4.~~44000~~66438% 13,769,000.00 5649,~~039~~951.8388 0.00 0.00 B3 12,117,000.00 45.~~84000~~06438% 12,117,000.00 5347,~~759~~728.0941 0.00 0.00 B4 15,421,000.00 6.~~09000~~31438% 15,421,000.00 8675,~~087~~735.7338 0.00 0.00 OT 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,073,976,000.00 32,~~337~~963,~~735~~386.7267 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 1A1 0.00 0.00 ~~810~~695,~~415~~904.6799 0.00 ~~261~~241,~~283~~154,~~792~~345.5290 1A2 0.00 0.00 ~~872~~790,~~776~~889.0328 0.00 288,521,000.00 1A3 0.00 0.00 ~~138~~124,~~185~~895.3791 0.00 43,822,000.00 2A1 0.00 0.00 ~~600~~532,~~735~~523.8647 0.00 ~~193~~185,~~718~~583,~~003~~428.5478 2A2 0.00 0.00 ~~152~~135,~~451~~013.8456 0.00 4846,~~429~~395,~~258~~625.7623 M1 0.00 0.00 ~~128~~116,~~991~~463.0443 0.00 40,205,000.00 M2 0.00 0.00 ~~115~~104,~~511~~257.4427 0.00 35,799,000.00 M3 0.00 0.00 7063,~~293~~391.3044 0.00 21,480,000.00 M4 0.00 0.00 6962,~~488~~516.9867 0.00 20,378,000.00 M5 0.00 0.00 6054,~~420~~341.9596 0.00 17,624,000.00 M6 0.00 0.00 6155,~~228~~027.7134 0.00 17,624,000.00 B1 0.00 0.00 6154,~~349~~745.8868 0.00 15,421,000.00 B2 0.00 0.00 5649,~~039~~951.8388 0.00 13,769,000.00 B3 0.00 0.00 5347,~~759~~728.0941 0.00 12,117,000.00 B4 0.00 0.00 8675,~~087~~735.7338 0.00 15,421,000.00 OT 0.00 0.00 12,~~977~~467,~~823~~570.6854 0.00 0.00 Totals 0.00 0.00 5,~~315~~430,~~559~~957.4021 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 1A1 281,774,000.00 3.~~20000~~42438% ~~980~~927.~~49525215~~28141177 2.~~87611941~~46972748 0.00000000 0.00000000 1A2 288,521,000.00 3.~~30000~~52438% 1000.00000000 32.~~02500002~~74118445 0.00000000 0.00000000 1A3 43,822,000.00 3.~~44000~~66438% 1000.00000000 32.~~15333326~~85007325 0.00000000 0.00000000 2A1 200,017,000.00 3.~~31000~~53438% ~~989~~968.~~86783558~~50769455 32.~~00342401~~66239105 0.00000000 0.00000000 2A2 50,004,000.00 3.~~36000~~58438% ~~989~~968.~~86783557~~50769458 32.~~04879290~~70005520 0.00000000 0.00000000 M1 40,205,000.00 3.~~50000~~72438% 1000.00000000 32.~~20833329~~89673996 0.00000000 0.00000000 M2 35,799,000.00 3.~~52000~~74438% 1000.00000000 32.~~22666667~~91229559 0.00000000 0.00000000 M3 21,480,000.00 3.~~57000~~79438% 1000.00000000 32.~~27250000~~95118436 0.00000000 0.00000000 M4 20,378,000.00 3.~~72000~~94438% 1000.00000000 3.~~41000000~~06785111 0.00000000 0.00000000 M5 17,624,000.00 3.~~74000~~96438% 1000.00000000 3.~~42833352~~08340672 0.00000000 0.00000000 M6 17,624,000.00 34.~~79000~~01438% 1000.00000000 3.~~47416648~~12229573 0.00000000 0.00000000 B1 15,421,000.00 4.~~34000~~56438% 1000.00000000 3.~~97833344~~55007328 0.00000000 0.00000000 B2 13,769,000.00 4.~~44000~~66438% 1000.00000000 43.~~07000000~~62785097 0.00000000 0.00000000 B3 12,117,000.00 45.~~84000~~06438% 1000.00000000 43.~~43666667~~93896261 0.00000000 0.00000000 B4 15,421,000.00 6.~~09000~~31438% 1000.00000000 54.~~58249984~~91118475 0.00000000 0.00000000 OT 0.00 0.00000% 0.00000000 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 1A1 0.00000000 0.00000000 2.~~87611941~~46972748 0.00000000 ~~927~~855.~~28141177~~84314344 1A2 0.00000000 0.00000000 32.~~02500002~~74118445 0.00000000 1000.00000000 1A3 0.00000000 0.00000000 32.~~15333326~~85007325 0.00000000 1000.00000000 2A1 0.00000000 0.00000000 32.~~00342401~~66239105 0.00000000 ~~968~~927.~~50769455~~83827765 2A2 0.00000000 0.00000000 32.~~04879290~~70005520 0.00000000 ~~968~~927.~~50769458~~83827754 M1 0.00000000 0.00000000 32.~~20833329~~89673996 0.00000000 1000.00000000 M2 0.00000000 0.00000000 32.~~22666667~~91229559 0.00000000 1000.00000000 M3 0.00000000 0.00000000 32.~~27250000~~95118436 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.~~41000000~~06785111 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.~~42833352~~08340672 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.~~47416648~~12229573 0.00000000 1000.00000000 B1 0.00000000 0.00000000 3.~~97833344~~55007328 0.00000000 1000.00000000 B2 0.00000000 0.00000000 43.~~07000000~~62785097 0.00000000 1000.00000000 B3 0.00000000 0.00000000 43.~~43666667~~93896261 0.00000000 1000.00000000 B4 0.00000000 0.00000000 54.~~58249984~~91118475 0.00000000 1000.00000000 OT 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.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2636,~~915~~816,~~079~~840.2147 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~32,354~~0.7000 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2636,~~947~~816,~~433~~840.9147 Withdrawals Reimbursement for Servicer Advances 032,354.0070 Payment of Service Fee 1,~~297~~055,~~114~~873.0365 Payment of Interest and Principal 2535,~~650~~728,~~319~~612.8812 Total Withdrawals (Pool Distribution Amount) 2636,~~947~~816,~~433~~840.9147 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~455~~447,~~612~~139.4563 Swap Agreement ~~841~~608,~~501~~734.5802 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 1,~~297~~055,~~114~~873.0365

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT 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 2098 0 0 0 2098 316,~~165~~852,~~552~~005.8234 0.00 0.00 0.00 316,~~165~~852,~~552~~005.8234 60 Days 810 0 0 0 810 1,~~405~~160,~~738~~276.1894 0.00 0.00 0.00 1,~~405~~160,~~738~~276.1894 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 28108 0 0 0 28108 418,~~571~~012,~~291~~282.0028 0.00 0.00 0.00 418,~~571~~012,~~291~~282.0028 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 01.~~342114~~715386% 0.000000% 0.000000% 0.000000% 01.~~342114~~715386% 01.~~294794~~614929% 0.000000% 0.000000% 0.000000% 01.~~294794~~614929% 60 Days 0.~~136846~~175039% 0.000000% 0.000000% 0.000000% 0.~~136846~~175039% 0.~~130910~~111189% 0.000000% 0.000000% 0.000000% 0.~~130910~~111189% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~478960~~890425% 0.000000% 0.000000% 0.000000% 01.~~478960~~890425% 01.~~425704~~726119% 0.000000% 0.000000% 0.000000% 01.~~425704~~726119%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 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 1143 0 0 0 1143 29,~~171~~827,~~358~~441.4294 0.00 0.00 0.00 29,~~171~~827,~~358~~441.4294 60 Days 4 0 0 0 4 1738,~~026,632~~159.4461 0.00 0.00 0.00 1738,~~026,632~~159.4461 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1547 0 0 0 1547 310,~~197~~565,~~990~~601.8655 0.00 0.00 0.00 310,~~197~~565,~~990~~601.8655 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~413845~~653846% 0.000000% 0.000000% 0.000000% 01.~~413845~~653846% 01.~~353193~~642936% 0.000000% 0.000000% 0.000000% 01.~~353193~~642936% 60 Days 0.~~150489~~153846% 0.000000% 0.000000% 0.000000% 0.~~150489~~153846% 0.~~166992~~123404% 0.000000% 0.000000% 0.000000% 0.~~166992~~123404% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~564334~~807692% 0.000000% 0.000000% 0.000000% 01.~~564334~~807692% 01.~~520185~~766340% 0.000000% 0.000000% 0.000000% 01.~~520185~~766340% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 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 516 0 0 0 516 ~~291~~1,~~917~~384,993.3336 0.00 0.00 0.00 ~~291~~1,~~917~~384,993.3336 60 Days 45 0 0 0 45 ~~379~~291,~~105~~917.7433 0.00 0.00 0.00 ~~379~~291,~~105~~917.7433 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 921 0 0 0 921 ~~671~~1,~~023~~676,910.0769 0.00 0.00 0.00 ~~671~~1,~~023~~676,910.0769 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~409165~~337793% 0.000000% 0.000000% 0.000000% 01.~~409165~~337793% 0.~~197191~~958333% 0.000000% 0.000000% 0.000000% 0.~~197191~~958333% 60 Days 0.~~327332~~418060% 0.000000% 0.000000% 0.000000% 0.~~327332~~418060% 0.~~256087~~201989% 0.000000% 0.000000% 0.000000% 0.~~256087~~201989% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~736498~~755853% 0.000000% 0.000000% 0.000000% 01.~~736498~~755853% 01.~~453277~~160322% 0.000000% 0.000000% 0.000000% 01.~~453277~~160322% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 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 437 0 0 0 437 ~~702~~5,~~277~~522,685.0725 0.00 0.00 0.00 ~~702~~5,~~277~~522,685.0725 60 Days 01 0 0 0 01 0130,200.00 0.00 0.00 0.00 0130,200.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 438 0 0 0 438 ~~702~~5,~~277~~652,885.0725 0.00 0.00 0.00 ~~702~~5,~~277~~652,885.0725 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 02.~~250156~~380952% 0.000000% 0.000000% 0.000000% 02.~~250156~~380952% 02.~~269003~~195725% 0.000000% 0.000000% 0.000000% 02.~~269003~~195725% 60 Days 0.~~000000~~064350% 0.000000% 0.000000% 0.000000% 0.~~000000~~064350% 0.~~000000~~051765% 0.000000% 0.000000% 0.000000% 0.~~000000~~051765% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 02.~~250156~~445302% 0.000000% 0.000000% 0.000000% 02.~~250156~~445302% 02.~~269003~~247490% 0.000000% 0.000000% 0.000000% 02.~~269003~~247490% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 02 0 0 0 02 0116,884.0079 0.00 0.00 0.00 0116,884.0079 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 02 0 0 0 02 0116,884.0079 0.00 0.00 0.00 0116,884.0079 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~550964% 0.000000% 0.000000% 0.000000% 0.~~000000~~550964% 0.~~000000~~237045% 0.000000% 0.000000% 0.000000% 0.~~000000~~237045% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~000000~~550964% 0.000000% 0.000000% 0.000000% 0.~~000000~~550964% 0.~~000000~~237045% 0.000000% 0.000000% 0.000000% 0.~~000000~~237045%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 32118,~~354~~244.7025

REO Detail - All Mortgage Loans in REO during Current Period

~~COLLATERAL~~Summary ~~STATEMENT~~12 ~~Collateral~~Month ~~Description~~REO ~~Mixed~~History* ~~Fixed~~New &REO ~~Arm~~Loans ~~Weighted~~Month ~~Average~~REO ~~Gross~~Percentage ~~Coupon~~Loans 7in REO 0 Aug-04 0.~~256910~~000% ~~Weighted~~Original ~~Average~~Principal ~~Net~~Balance ~~Coupon~~0.00 6Sep-04 0.~~756910~~000% ~~Weighted~~Current ~~Average~~Principal ~~Pass~~Balance 0.00 Oct-~~Through~~04 ~~Rate~~0.000% 6Nov-04 0.~~756910~~000% ~~Weighted~~Current ~~Average~~REO ~~Maturity(Stepdown~~Total ~~Calculation)~~Dec-04 ~~355~~0.000% ~~Beginning~~Loans ~~Scheduled~~in ~~Collateral~~REO ~~Loan~~0 ~~Count~~Jan-05 ~~5,923~~0.000% ~~Number~~Original OfPrincipal 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 1 12 Month REO History* New REO Loans ~~Paid~~Month InREO ~~Full~~Percentage 77Loans ~~Ending~~in ~~Scheduled~~REO ~~Collateral~~0 ~~Loan~~Aug-04 ~~Count~~0.000% ~~5,846~~Original ~~Beginning~~Principal ~~Scheduled~~Balance ~~Collateral~~0.00 Sep-04 0.000% Current Principal Balance ~~1,093,469,885~~0.8800 ~~Ending~~Oct-04 ~~Scheduled~~0.000% ~~Collateral~~Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance ~~1,073,135,125~~0.4000 ~~Ending~~Feb-05 ~~Actual~~0.000% ~~Collateral~~Current Principal Balance at0.00 31Mar-05 0.000% Apr-05 0.000% May-~~2005~~05 ~~1,073,820,029~~0.00000% ~~Monthly~~Jun-05 ~~P&I~~0.000% ~~Constant~~Jul-05 ~~7,378,332~~0.99000% ~~Special~~*The ~~Servicing~~text ~~Fee~~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 0.00000% ~~Prepayment~~Original ~~Penalties~~Principal Balance 0.00 ~~Realized~~Sep-04 ~~Loss~~0.000% ~~Amount~~Current Principal Balance 0.00 ~~Cumulative~~Oct-04 ~~Realized~~0.000% ~~Loss~~Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Scheduled~~Feb-05 0.000% Current Principal ~~765,656~~Balance 0.0100 ~~Unscheduled~~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 3 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal ~~19,569,104~~Balance 0.4700 ~~Required~~Sep-04 ~~Overcollateralization~~0.000% ~~Amount~~Current Principal Balance 0.00 ~~Overcollateralized~~Oct-04 ~~Increase~~0.000% ~~Amount~~Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Overcollateralized~~Feb-05 ~~reduction~~0.000% ~~Amount~~Current Principal Balance 0.00 ~~Specified~~Mar-05 ~~O/C~~0.000% ~~Amount~~Apr-05 ~~27,523,070~~0.58000% ~~Overcollateralized~~May-05 ~~Amount~~0.000% ~~27,523,070~~Jun-05 0.58000% ~~Overcollateralized~~Jul-05 ~~Deficiency~~0.000% ~~Amount~~*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 4 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal Balance 0.00 ~~Base~~Sep-04 ~~Overcollateralized~~0.000% ~~Amount~~Current Principal Balance 0.00 ~~Extra~~Oct-04 ~~principal~~0.000% ~~distribution~~Nov-04 ~~Amount~~0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Excess~~Feb-05 ~~Cash~~0.000% ~~Amount~~Current ~~2,226,177~~Principal Balance 0.6100 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~~REO Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.122337 7.810763 7.302494 Weighted Average Net Rate 6.622337 7.310763 6.802494 Weighted Average Maturity 357 349 357 Beginning Loan ~~Count~~Detail ~~2,703~~- ~~1,229~~All ~~1,618~~Mortgage Loans ~~Paid~~in InREO ~~Full~~during 45Current 7Period 19Month ~~Ending~~ Loan ~~Count~~First ~~2,658~~Original ~~1,222~~Loan ~~1,599~~Entered ~~Beginning~~Payment ~~Scheduled~~LTV ~~Balance~~at ~~628,408,282.45~~Principal ~~148,928,480.14~~Group ~~265,236,885.93~~Number ~~Ending~~REO ~~Scheduled Balance 614,415,360.03 147,927,125.90 260,893,619.56 Record~~ Date ~~05/31/2005~~State ~~05/31/2005~~Origination ~~05/31/2005~~Balance ~~Principal~~No ~~And~~REO ~~Interest~~loans ~~Constant~~this ~~4,132,302~~period.47 1,094,001.42 1,806,519.40 Scheduled Principal 402,522.68 124,630.55 192,443.81 Unscheduled Principal 13,590,399.74 876,723.69 4,150,822.56 Scheduled Interest 3,729,779.79 969,370.87 1,614,075.59 Servicing Fees 261,836.78 62,053.53 110,515.37 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 3,467,943.01 907,317.34 1,503,560.22 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.622337 7.310763 6.802494

~~Group~~REO ~~Level~~Loan ~~Collateral~~Detail ~~Statement~~- ~~Group~~All ~~Group~~Mortgage 4Loans ~~Total~~in ~~Collateral~~REO ~~Description~~during ~~Mixed~~Current ~~ARM~~Period ~~Mixed~~(continued) ~~Fixed~~Current &Paid ~~Arm~~Current ~~Weighted~~Approximate ~~Average Coupon Rate 7.060264 7.256910 Weighted Average Net Rate 6.560264 6.756910 Weighted Average Maturity 351 355 Beginning~~ Loan ~~Count~~Principal ~~373~~To ~~5,923~~Months ~~Loans Paid In Full 6 77 Ending~~ Loan ~~Count~~Delinquent ~~367~~Group ~~5,846~~Number ~~Beginning Scheduled~~ Balance ~~50,896,237.36 1,093,469,885.88 Ending scheduled Balance 49,899,019.91 1,073,135,125.40 Record~~ Date ~~05/31/2005~~Delinquent ~~05/31/2005~~Rate ~~Principal And~~ Interest ~~Constant~~No ~~345,509.70~~REO ~~7,378,332.99~~loans ~~Scheduled~~this ~~Principal 46,058~~period.97 765,656.01 Unscheduled Principal 951,158.48 19,569,104.47 Scheduled Interest 299,450.73 6,612,676.98 Servicing Fees 21,206.77 455,612.45 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread 1 0.00 0.00 Spread 2 0.00 0.00 Spread 3 0.00 0.00 Net Interest 278,243.96 6,157,064.53 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.560264 6.756910

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Prepayment - Voluntary Prepayments

Realized Loss Report - Collateral Summary

Filing Compare · PEOPLES CHOICE HOME LOAN SECURITIES TRUST SERIES 2005-2