8-K 1 bsa05ac1_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 BEAR STEARNS ASSET BACKED SECURITIES I TRUST Asset Backed Certificates, Series 2005-AC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-113636-25 Pooling and Servicing Agreement) (Commission 54-2165592 (State or other File Number) 54-2167991 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) 884-2230 (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 BEAR STEARNS ASSET BACKED SECURITIES I TRUST, Asset Backed Certificates, Series 2005-AC1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2005-AC1 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. BEAR STEARNS ASSET BACKED SECURITIES I TRUST Asset Backed Certificates, Series 2005-AC1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 7/27/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2005-AC1 Trust, relating to the July 25, 2005 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset Backed Certificates Record Date: 56/3130/2005 Distribution Date: 67/2725/2005 Bear Stearns Asset Backed Securities Asset Backed Certificates Series 2005-AC1 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 073879QE1 SEN 5.50000% ~~141~~138,~~678~~811,~~734~~160.9913 ~~649~~636,~~360~~217.8782 M-1 073879QF8 MEZ 3.~~59000~~81438% 2524,~~176~~667,~~891~~311.2747 7778,~~831~~408.5675 M-2 073879QG6 MEZ 34.~~84000~~06438% 11,~~255~~027,~~281~~474.5385 37,~~217~~349.4687 M-3 073879QH4 MEZ 34.~~89000~~11438% 3,~~849~~772,~~935~~013.7108 12,~~896~~932.2291 B-1 073879QJ0 SUB 4.~~34000~~56438% 4,~~640~~546,~~842~~911.4286 17,~~343~~294.86 B-2 073879QK7 SUB 4.~~39000~~61438% 32,~~060~~998,~~864~~912.0421 11,~~570~~531.9277 B-3 073879QL5 SUB 5.~~24000~~46438% 65,~~022~~900,~~635~~737.3634 2726,~~175~~869.4789 C 073879QN1 OC 0.00000% 1,936,908.57 ~~253~~241,~~376~~174.1372 P 073879QM3 SEN 0.00000% 100.00 2114,~~157~~784.6219 R-1 073879QP6 RES 0.00000% 0.00 0.00 R-2 073879QQ4 RES 0.00000% 0.00 0.00 Totals ~~197~~193,~~622~~661,~~193~~529.8951 1,~~107~~076,~~930~~564.1178

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A 25,~~867~~118,~~574~~637.8707 0.00 ~~138~~133,~~811~~692,~~160~~523.1306 35,~~516~~754,~~935~~854.7489 0.00 M-1 ~~509~~909,~~579~~602.7976 0.00 2423,~~667~~757,~~311~~708.4771 ~~587~~988,~~411~~011.3551 0.00 M-2 ~~227~~406,~~806~~636.6819 0.00 1110,~~027~~620,~~474~~838.8566 ~~265~~443,~~024~~986.1406 0.00 M-3 77139,~~922~~092.6232 0.00 3,~~772~~632,~~013~~920.0876 90152,~~818~~025.8423 0.00 B-1 93167,~~930~~666.5657 0.00 4,~~546~~379,~~911~~245.8629 ~~111~~184,~~274~~961.4243 0.00 B-2 61110,~~951~~584.8336 0.00 2,~~998~~888,~~912~~327.2185 73122,~~522~~116.7513 0.00 B-3 ~~121~~217,~~898~~588.0265 0.00 5,~~900~~683,~~737~~148.3469 ~~149~~244,~~073~~458.4954 0.00 C 0.00 0.00 1,936,908.57 ~~253~~241,~~376~~174.1372 0.00 P 0.00 0.00 100.00 2114,~~157~~784.6219 0.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 Totals 37,~~960~~069,~~664~~807.3792 0.00 ~~193~~186,~~661~~591,~~529~~721.5159 58,~~068~~146,~~594~~372.4870 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 154,414,000.00 ~~141~~138,~~678~~811,~~734~~160.9913 0.00 25,~~867~~118,~~574~~637.8707 0.00 0.00 M-1 27,440,000.00 2524,~~176~~667,~~891~~311.2747 0.00 ~~509~~909,~~579~~602.7976 0.00 0.00 M-2 12,267,000.00 11,~~255~~027,~~281~~474.5385 0.00 ~~227~~406,~~806~~636.6819 0.00 0.00 M-3 4,196,000.00 3,~~849~~772,~~935~~013.7108 0.00 77139,~~922~~092.6232 0.00 0.00 B-1 5,058,000.00 4,~~640~~546,~~842~~911.4286 0.00 93167,~~930~~666.5657 0.00 0.00 B-2 3,336,000.00 32,~~060~~998,~~864~~912.0421 0.00 61110,~~951~~584.8336 0.00 0.00 B-3 6,564,000.00 65,~~022~~900,~~635~~737.3634 0.00 ~~121~~217,~~898~~588.0265 0.00 0.00 C 1,937,063.24 1,936,908.57 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 Totals 215,212,163.24 ~~197~~193,~~622~~661,~~193~~529.8951 0.00 37,~~960~~069,~~664~~807.3792 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 25,~~867~~118,~~574~~637.8707 ~~138~~133,~~811~~692,~~160~~523.1306 0.~~89895450~~86580571 25,~~867~~118,~~574~~637.8707 M-1 ~~509~~909,~~579~~602.7976 2423,~~667~~757,~~311~~708.4771 0.~~89895450~~86580571 ~~509~~909,~~579~~602.7976 M-2 ~~227~~406,~~806~~636.6819 1110,~~027~~620,~~474~~838.8566 0.~~89895450~~86580571 ~~227~~406,~~806~~636.6819 M-3 77139,~~922~~092.6232 3,~~772~~632,~~013~~920.0876 0.~~89895450~~86580571 77139,~~922~~092.6232 B-1 93167,~~930~~666.5657 4,~~546~~379,~~911~~245.8629 0.~~89895450~~86580571 93167,~~930~~666.5657 B-2 61110,~~951~~584.8336 2,~~998~~888,~~912~~327.2185 0.~~89895450~~86580571 61110,~~951~~584.8336 B-3 ~~121~~217,~~898~~588.0265 5,~~900~~683,~~737~~148.3469 0.~~89895450~~86580571 ~~121~~217,~~898~~588.0265 C 0.00 1,936,908.57 0.99992015 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 Totals 37,~~960~~069,~~664~~807.3792 ~~193~~186,~~661~~591,~~529~~721.5159 0.~~89986331~~86701290 37,~~960~~069,~~664~~807.3792

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 154,414,000.00 ~~917~~898.~~52519195~~95449979 0.00000000 1833.~~57069223~~14878878 0.00000000 M-1 27,440,000.00 ~~917~~898.~~52519206~~95449964 0.00000000 1833.~~57069206~~14878863 0.00000000 M-2 12,267,000.00 ~~917~~898.~~52519198~~95449988 0.00000000 1833.~~57069210~~14878862 0.00000000 M-3 4,196,000.00 ~~917~~898.~~52519304~~95449952 0.00000000 1833.~~57069113~~14878932 0.00000000 B-1 5,058,000.00 ~~917~~898.~~52519178~~95449980 0.00000000 1833.~~57069197~~14878806 0.00000000 B-2 3,336,000.00 ~~917~~898.~~52519185~~95449940 0.00000000 1833.~~57069245~~14878897 0.00000000 B-3 6,564,000.00 ~~917~~898.~~52519196~~95450030 0.00000000 1833.~~57069165~~14878885 0.00000000 C 1,937,063.24 999.92015232 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 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 A 0.00000000 1833.~~57069223~~14878878 ~~898~~865.~~95449979~~80571101 0.~~89895450~~86580571 1833.~~57069223~~14878878 M-1 0.00000000 1833.~~57069206~~14878863 ~~898~~865.~~95449964~~80571101 0.~~89895450~~86580571 1833.~~57069206~~14878863 M-2 0.00000000 1833.~~57069210~~14878862 ~~898~~865.~~95449988~~80571126 0.~~89895450~~86580571 1833.~~57069210~~14878862 M-3 0.00000000 1833.~~57069113~~14878932 ~~898~~865.~~95449952~~80571020 0.~~89895450~~86580571 1833.~~57069113~~14878932 B-1 0.00000000 1833.~~57069197~~14878806 ~~898~~865.~~95449980~~80571174 0.~~89895450~~86580571 1833.~~57069197~~14878806 B-2 0.00000000 1833.~~57069245~~14878897 ~~898~~865.~~95449940~~80571043 0.~~89895450~~86580571 1833.~~57069245~~14878897 B-3 0.00000000 1833.~~57069165~~14878885 ~~898~~865.~~95450030~~80571146 0.~~89895450~~86580571 1833.~~57069165~~14878885 C 0.00000000 0.00000000 999.92015232 0.99992015 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 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 A 154,414,000.00 5.50000% ~~141~~138,~~678~~811,~~734~~160.9913 ~~649~~636,~~360~~217.8782 0.00 0.00 M-1 27,440,000.00 3.~~59000~~81438% 2524,~~176~~667,~~891~~311.2747 7778,~~831~~408.5675 0.00 0.00 M-2 12,267,000.00 34.~~84000~~06438% 11,~~255~~027,~~281~~474.5385 37,~~217~~349.4687 0.00 0.00 M-3 4,196,000.00 34.~~89000~~11438% 3,~~849~~772,~~935~~013.7108 12,~~896~~932.2291 0.00 0.00 B-1 5,058,000.00 4.~~34000~~56438% 4,~~640~~546,~~842~~911.4286 17,~~343~~294.86 0.00 0.00 B-2 3,336,000.00 4.~~39000~~61438% 32,~~060~~998,~~864~~912.0421 11,~~570~~531.9277 0.00 0.00 B-3 6,564,000.00 5.~~24000~~46438% 65,~~022~~900,~~635~~737.3634 2726,~~175~~869.4789 0.00 0.00 C 1,937,063.24 0.00000% 1,936,908.57 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 215,212,163.24 ~~833~~820,~~396~~605.3687 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 0.00 0.00 ~~649~~636,~~360~~217.8782 0.00 ~~138~~133,~~811~~692,~~160~~523.1306 M-1 0.00 0.00 7778,~~831~~408.5675 0.00 2423,~~667~~757,~~311~~708.4771 M-2 0.00 0.00 37,~~217~~349.4687 0.00 1110,~~027~~620,~~474~~838.8566 M-3 0.00 0.00 12,~~896~~932.2291 0.00 3,~~772~~632,~~013~~920.0876 B-1 0.00 0.00 17,~~343~~294.86 0.00 4,~~546~~379,~~911~~245.8629 B-2 0.00 0.00 11,~~570~~531.9277 0.00 2,~~998~~888,~~912~~327.2185 B-3 0.00 0.00 2726,~~175~~869.4789 0.00 5,~~900~~683,~~737~~148.3469 C 0.00 0.00 ~~253~~241,~~376~~174.1372 0.00 1,936,908.57 P 0.00 0.00 2114,~~157~~784.6219 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,~~107~~076,~~930~~564.1178 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 154,414,000.00 5.50000% ~~917~~898.~~52519195~~95449979 4.~~20532380~~12020814 0.00000000 0.00000000 M-1 27,440,000.00 3.~~59000~~81438% ~~917~~898.~~52519206~~95449964 2.~~83642711~~85746173 0.00000000 0.00000000 M-2 12,267,000.00 34.~~84000~~06438% ~~917~~898.~~52519198~~95449988 3.~~03394962~~04474362 0.00000000 0.00000000 M-3 4,196,000.00 34.~~89000~~11438% ~~917~~898.~~52519304~~95449952 3.~~07345567~~08219971 0.00000000 0.00000000 B-1 5,058,000.00 4.~~34000~~56438% ~~917~~898.~~52519178~~95449980 3.~~42899565~~41930803 0.00000000 0.00000000 B-2 3,336,000.00 4.~~39000~~61438% ~~917~~898.~~52519185~~95449940 3.~~46850120~~45676559 0.00000000 0.00000000 B-3 6,564,000.00 5.~~24000~~46438% ~~917~~898.~~52519196~~95450030 4.~~14007770~~09352377 0.00000000 0.00000000 C 1,937,063.24 0.00000% 999.92015232 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 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 A 0.00000000 0.00000000 4.~~20532380~~12020814 0.00000000 ~~898~~865.~~95449979~~80571101 M-1 0.00000000 0.00000000 2.~~83642711~~85746173 0.00000000 ~~898~~865.~~95449964~~80571101 M-2 0.00000000 0.00000000 3.~~03394962~~04474362 0.00000000 ~~898~~865.~~95449988~~80571126 M-3 0.00000000 0.00000000 3.~~07345567~~08219971 0.00000000 ~~898~~865.~~95449952~~80571020 B-1 0.00000000 0.00000000 3.~~42899565~~41930803 0.00000000 ~~898~~865.~~95449980~~80571174 B-2 0.00000000 0.00000000 3.~~46850120~~45676559 0.00000000 ~~898~~865.~~95449940~~80571043 B-3 0.00000000 0.00000000 4.~~14007770~~09352377 0.00000000 ~~898~~865.~~95450030~~80571146 C 0.00000000 0.00000000 ~~130~~124.~~80426326~~50534140 0.00000000 999.92015232 P 0.00000000 0.00000000 ~~211576~~147841.~~20000000~~90000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 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 58,~~043~~228,~~332~~014.6352 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 6124,~~998~~737.5749 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~21,157~~0.6200 Total Deposits 58,~~126~~252,~~488~~752.8201 Withdrawals Reimbursement for Servicer Advances 1261,~~605~~998.9457 Payment of Service Fee 4544,~~288~~380.4074 Payment of Interest and Principal 58,~~068~~146,~~594~~372.4870 Total Withdrawals (Pool Distribution Amount) 58,~~126~~252,~~488~~752.8201 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 4140,~~171~~346.2713 Master Servicing Fee 4,~~117~~034.1361 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 4544,~~288~~380.4074

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 420 0 0 0 420 ~~7,546,035~~0.9200 0.00 0.00 0.00 ~~7,546,035~~0.9200 60 Days 410 0 0 0 410 12,~~159~~158,~~754~~709.9416 0.00 0.00 0.00 12,~~159~~158,~~754~~709.9416 90 Days 13 0 0 0 13 ~~127~~1,~~434~~036,962.3056 0.00 0.00 0.00 ~~127~~1,~~434~~036,962.3056 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 10 0 10 0.00 0.00 ~~314,563~~0.5800 0.00 ~~314,563~~0.5800 180+ Days 0 0 0 01 01 0.00 0.00 0.00 0314,345.0037 0314,345.0037 Totals 4713 0 1 0 481 814 3,~~833~~195,~~225~~671.1672 0.00 ~~314,563.58~~ 0.00 9314,~~147~~345.37 3,~~788~~510,017.7409 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 40.~~375000~~000000% 0.000000% 0.000000% 0.000000% 40.~~375000~~000000% 30.~~893879~~000000% 0.000000% 0.000000% 0.000000% 30.~~893879~~000000% 60 Days 01.~~416667~~064963% 0.000000% 0.000000% 0.000000% 01.~~416667~~064963% 01.~~598453~~156143% 0.000000% 0.000000% 0.000000% 01.~~598453~~156143% 90 Days 0.~~104167~~319489% 0.000000% 0.000000% 0.000000% 0.~~104167~~319489% 0.~~065758~~555368% 0.000000% 0.000000% 0.000000% 0.~~065758~~555368% 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.~~104167~~000000% 0.000000% 0.~~104167~~000000% 0.000000% 0.000000% 0.~~162320~~000000% 0.000000% 0.~~162320~~000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.~~000000~~106496% 0.~~000000~~106496% 0.000000% 0.000000% 0.000000% 0.~~000000~~168354% 0.~~000000~~168354% Totals 41.~~895833~~384452% 0.000000% 0.~~104167~~000000% 0.~~000000~~106496% 51.~~000000~~490948% 41.~~558090~~711511% 0.000000% 0.~~162320~~000000% 0.~~000000~~168354% 41.~~720410~~879866%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 6124,~~998~~737.5749

REO Detail - All Mortgage Loans in REO during Current Period

~~COLLATERAL~~Summary ~~STATEMENT~~12 ~~Collateral~~Month ~~Description~~REO ~~Fixed~~History* 30New ~~Year~~REO ~~Weighted~~Loans ~~Average~~Month ~~Gross~~REO ~~Coupon~~Percentage ~~6.874536%~~Loans ~~Weighted~~in ~~Average~~REO ~~Net~~1 ~~Coupon~~Aug-04 60.~~624536~~000% ~~Weighted~~Original ~~Average~~Principal ~~Pass-Through~~Balance ~~Rate~~315,000.00 6Sep-04 0.~~599536~~000% ~~Weighted~~Current ~~Average~~Principal ~~Maturity(Stepdown Calculation) 326 Beginning Scheduled Collateral Loan Count 978 Number Of Loans Paid In Full 18 Ending Scheduled Collateral Loan Count 960 Beginning Scheduled Collateral~~ Balance ~~197~~314,~~622,093~~345.8937 ~~Ending~~Oct-04 ~~Scheduled~~0.000% ~~Collateral~~Nov-04 ~~Balance 193,661,429~~0.51000% ~~Ending~~Current ~~Actual~~REO ~~Collateral~~Total ~~Balance at 31~~Dec-~~May-2005~~04 ~~193,792,265~~0.76000% ~~Monthly~~Loans ~~P&I~~in ~~Constant~~REO 1~~,287,644.80~~ ~~Special~~Jan-05 ~~Servicing Fee~~ 0.00000% ~~Prepayment~~Original ~~Penalties~~Principal 21Balance 315,~~157~~000.~~62 Realized Loss Amount 0.~~00 ~~Cumulative~~Feb-05 ~~Realized Loss~~ 0.00000% ~~Scheduled~~Current Principal ~~155~~Balance 314,~~511~~345.3137 ~~Unscheduled~~Mar-05 ~~Principal 3,805,153~~0.07000% ~~Required~~Apr-05 ~~Overcollateralization~~0.000% ~~Amount~~May-05 0.00000% ~~Overcollateralized~~Jun-05 ~~Increase Amount~~ 0.00000% ~~Overcollateralized~~Jul-05 ~~reduction Amount~~ 0.00168% ~~Specified~~*The ~~O/C~~text ~~Amount~~reported ~~1,936,908.57~~in ~~Overcollateralized~~the ~~Amount~~above ~~1,936,908.57~~table ~~Overcollateralized~~is ~~Deficiency~~presented ~~Amount~~graphically ~~0.00~~on ~~Base~~the ~~Overcollateralized~~monthly ~~Amount~~bond 0remittance report.00 ~~Extra~~The ~~principal~~monthly ~~distribution~~bond ~~Amount~~remittance ~~0.00~~report ~~Excess~~can ~~Cash~~be ~~Amount~~viewed ~~274,533~~online at www.75ctslink.com.

~~Miscellaneous~~REO ~~Reporting~~Loan 3Detail - All Mortgage Loans in REO during Current Period Month ~~Rolling~~Loan ~~Average~~First ~~Delinquency~~Original 0Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance Summary 0040187545 Jul-2005 01-Oct-2004 TX 100.~~008061%~~00 315,000.00

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Prepayment - Voluntary Prepayments

Realized Loss Report - Collateral Summary

Filing Compare · BEAR STEARNS ASSET BACKED SECURITIES I TRUST 2005-AC1