8-K 1 bsa05001_10508.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): August 25, 2005 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2005-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-113636-27 Pooling and Servicing Agreement) (Commission 54-2168073 (State or other File Number) 54-2168074 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 August 25, 2005 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset Backed Certificates, Series 2005-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2005-1 Trust, relating to the August 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 TRUST Asset Backed Certificates, Series 2005-1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 8/25/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2005-1 Trust, relating to the August 25, 2005 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset Backed Certificates Record Date: 67/3029/2005 Distribution Date: 78/25/2005 Bear Stearns Asset Backed Securities Asset Backed Certificates Series 2005-1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution A 073877AU6 SEN 3.~~66438~~81000% ~~239~~223,~~565~~860,~~279~~170.2353 ~~682~~734,~~778~~447.6191 M-1 073877AV4 MEZ 4.~~01438~~16000% 37,689,000.00 ~~117~~135,~~676~~010.2037 M-2 073877AW2 MEZ 4.~~71438~~86000% 18,549,000.00 6877,~~014~~627.3656 M-3 073877AX0 MEZ 45.~~91438~~06000% 4,341,000.00 1618,~~592~~914.5970 M-4 073877AY8 MEZ 5.~~51438~~66000% 3,946,000.00 1619,~~924~~232.2437 M-5 073877AZ5 MEZ 6.~~31438~~46000% 2,960,000.00 1416,~~537~~465.1182 M-6 073877BA9 MEZ 6.~~81438~~96000% 4,538,000.00 2427,~~051~~197.7375 M-7 073877BB7 MEZ 6.~~81438~~96000% 8,880,000.00 4753,~~064~~220.6580 B-IO 073877BE1 SEN 0.00000% 0.00 ~~297,357~~0.6400 R-I 073877BC5 SEN 0.00000% 0.00 0.00 R-II 073877BD3 SEN 0.00000% 0.00 0.00 OC BSA0501OC SEN 0.00000% 45,~~657~~653,~~578~~740.4730 0.00 Totals ~~325~~310,~~125~~416,~~857~~910.7083 1,~~284~~082,~~997~~117.1328

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A 1513,~~705~~929,~~108~~510.6931 0.00 ~~223~~209,~~860~~930,~~170~~660.5323 1614,~~387~~663,~~887~~958.3022 0.00 M-1 0.00 0.00 37,689,000.00 ~~117~~135,~~676~~010.2037 0.00 M-2 0.00 0.00 18,549,000.00 6877,~~014~~627.3656 0.00 M-3 0.00 0.00 4,341,000.00 1618,~~592~~914.5970 0.00 M-4 0.00 0.00 3,946,000.00 1619,~~924~~232.2437 0.00 M-5 0.00 0.00 2,960,000.00 1416,~~537~~465.1182 0.00 M-6 0.00 0.00 4,538,000.00 2427,~~051~~197.7375 0.00 M-7 0.00 0.00 8,880,000.00 4753,~~064~~220.6580 0.00 B-IO 0.00 0.00 0.00 ~~297,357~~0.6400 0.00 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 OC 0.00 0.00 56,~~653~~454,~~740~~688.3050 0.00 0.00 Totals 1513,~~705~~929,~~108~~510.6931 0.00 ~~310~~297,~~416~~288,~~910~~348.8373 1615,~~990~~011,~~105~~627.8259 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.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A 313,746,000.00 ~~239~~223,~~565~~860,~~279~~170.2353 0.00 1513,~~705~~929,~~108~~510.6931 0.00 0.00 M-1 37,689,000.00 37,689,000.00 0.00 0.00 0.00 0.00 M-2 18,549,000.00 18,549,000.00 0.00 0.00 0.00 0.00 M-3 4,341,000.00 4,341,000.00 0.00 0.00 0.00 0.00 M-4 3,946,000.00 3,946,000.00 0.00 0.00 0.00 0.00 M-5 2,960,000.00 2,960,000.00 0.00 0.00 0.00 0.00 M-6 4,538,000.00 4,538,000.00 0.00 0.00 0.00 0.00 M-7 8,880,000.00 8,880,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 R-I 0.00 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 0.00 OC 129.03 45,~~657~~653,~~578~~740.4730 0.00 0.00 0.00 0.00 Totals 394,649,129.03 ~~325~~310,~~125~~416,~~857~~910.7083 0.00 1513,~~705~~929,~~108~~510.6931 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 1513,~~705~~929,~~108~~510.6931 ~~223~~209,~~860~~930,~~170~~660.5323 0.~~71350765~~66911024 1513,~~705~~929,~~108~~510.6931 M-1 0.00 37,689,000.00 1.00000000 0.00 M-2 0.00 18,549,000.00 1.00000000 0.00 M-3 0.00 4,341,000.00 1.00000000 0.00 M-4 0.00 3,946,000.00 1.00000000 0.00 M-5 0.00 2,960,000.00 1.00000000 0.00 M-6 0.00 4,538,000.00 1.00000000 0.00 M-7 0.00 8,880,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 OC 0.00 56,~~653~~454,~~740~~688.3050 4350,~~817~~024.~~25412695~~71130745 0.00 Totals 1513,~~705~~929,~~108~~510.6931 ~~310~~297,~~416~~288,~~910~~348.8373 0.~~78656429~~75329787 1513,~~705~~929,~~108~~510.6931

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 313,746,000.00 ~~763~~713.~~56440952~~50764800 0.00000000 5044.~~05676149~~39741163 0.00000000 M-1 37,689,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 18,549,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 4,341,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 3,946,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 2,960,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 4,538,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 8,880,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 129.03 ~~36096864~~43817254.~~83763470~~12694720 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 5044.~~05676149~~39741163 ~~713~~669.~~50764800~~11023640 0.~~71350765~~66911024 5044.~~05676149~~39741163 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 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 4350,~~817~~024,~~254~~711.~~12694720~~30744790 ~~43817~~50024.~~25412695~~71130745 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 313,746,000.00 3.~~66438~~81000% ~~239~~223,~~565~~860,~~279~~170.2353 ~~682~~734,~~778~~447.6191 0.00 0.00 M-1 37,689,000.00 4.~~01438~~16000% 37,689,000.00 ~~117~~135,~~676~~010.2037 0.00 0.00 M-2 18,549,000.00 4.~~71438~~86000% 18,549,000.00 6877,~~014~~627.3656 0.00 0.00 M-3 4,341,000.00 45.~~91438~~06000% 4,341,000.00 1618,~~592~~914.5970 0.00 0.00 M-4 3,946,000.00 5.~~51438~~66000% 3,946,000.00 1619,~~924~~232.2437 0.00 0.00 M-5 2,960,000.00 6.~~31438~~46000% 2,960,000.00 1416,~~537~~465.1182 0.00 0.00 M-6 4,538,000.00 6.~~81438~~96000% 4,538,000.00 2427,~~051~~197.7375 0.00 0.00 M-7 8,880,000.00 6.~~81438~~96000% 8,880,000.00 4753,~~064~~220.6580 0.00 0.00 B-IO 0.00 0.00000% ~~325~~310,~~125~~416,~~857~~910.7083 0.00 0.00 0.00 R-I 0.00 0.00000% 0.00 0.00 0.00 0.00 R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 OC 129.03 0.00000% 45,~~657~~653,~~578~~740.4730 0.00 0.00 0.00 Totals 394,649,129.03 ~~987~~1,~~639~~082,117.4928 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 ~~682~~734,~~778~~447.6191 0.00 ~~223~~209,~~860~~930,~~170~~660.5323 M-1 0.00 0.00 ~~117~~135,~~676~~010.2037 0.00 37,689,000.00 M-2 0.00 0.00 6877,~~014~~627.3656 0.00 18,549,000.00 M-3 0.00 0.00 1618,~~592~~914.5970 0.00 4,341,000.00 M-4 0.00 0.00 1619,~~924~~232.2437 0.00 3,946,000.00 M-5 0.00 0.00 1416,~~537~~465.1182 0.00 2,960,000.00 M-6 0.00 0.00 2427,~~051~~197.7375 0.00 4,538,000.00 M-7 0.00 0.00 4753,~~064~~220.6580 0.00 8,880,000.00 B-IO 0.00 0.00 ~~297,357~~0.6400 0.00 ~~310~~297,~~416~~288,~~910~~348.8373 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 OC 0.00 0.00 0.00 0.00 56,~~653~~454,~~740~~688.3050 Totals 0.00 0.00 1,~~284~~082,~~997~~117.1328 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 313,746,000.00 3.~~66438~~81000% ~~763~~713.~~56440952~~50764800 2.~~17621455~~34089968 0.00000000 0.00000000 M-1 37,689,000.00 4.~~01438~~16000% 1000.00000000 3.~~12229563~~58222213 0.00000000 0.00000000 M-2 18,549,000.00 4.~~71438~~86000% 1000.00000000 34.~~66673999~~18499973 0.00000000 0.00000000 M-3 4,341,000.00 45.~~91438~~06000% 1000.00000000 34.~~82229671~~35722184 0.00000000 0.00000000 M-4 3,946,000.00 5.~~51438~~66000% 1000.00000000 4.~~28896097~~87389002 0.00000000 0.00000000 M-5 2,960,000.00 6.~~31438~~46000% 1000.00000000 45.~~91118581~~56277703 0.00000000 0.00000000 M-6 4,538,000.00 6.~~81438~~96000% 1000.00000000 5.~~30007272~~99333407 0.00000000 0.00000000 M-7 8,880,000.00 6.~~81438~~96000% 1000.00000000 5.~~30007320~~99333333 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~823~~786.~~83523232~~56428517 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 129.03 0.00000% ~~36096864~~43817254.~~83763470~~12694720 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 2.~~17621455~~34089968 0.00000000 ~~713~~669.~~50764800~~11023640 M-1 0.00000000 0.00000000 3.~~12229563~~58222213 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 34.~~66673999~~18499973 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 34.~~82229671~~35722184 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 4.~~28896097~~87389002 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 45.~~91118581~~56277703 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 5.~~30007272~~99333407 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 5.~~30007320~~99333333 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 0.~~75347345~~00000000 0.00000000 ~~786~~753.~~56428517~~29786925 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 ~~43817254~~50024711.~~12694720~~30744790 (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 1715,~~159~~204,~~000~~009.0669 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~322~~325,~~364~~995.9357 Realized Loss (Gains, Subsequent Expenses & Recoveries) (5364,~~511~~134.9276) Prepayment Penalties 0.00 Total Deposits 1715,~~427~~465,~~853~~870.0750 Withdrawals Reimbursement for Servicer Advances ~~299~~322,~~618~~364.1593 Payment of Service Fee ~~138~~131,~~129~~877.1098 Payment of Interest and Principal 1615,~~990~~011,~~105~~627.8259 Total Withdrawals (Pool Distribution Amount) 1715,~~427~~465,~~853~~870.0750 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~135~~129,~~419~~291.7217 Trustee Fee 2,~~709~~586.3881 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~138~~131,~~129~~877.1098

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 4649 01 0 4650 23,~~762~~079,~~734~~313.9814 096,578.0018 0.00 23,~~762~~175,~~734~~891.9832 30 Days ~~161~~136 106 0 0 ~~171~~142 1613,~~640~~266,~~934~~086.3644 ~~635~~355,~~319~~876.7479 0.00 0.00 1713,~~276~~621,~~254~~963.1023 60 Days 5773 36 02 0 6081 58,~~965~~148,~~710~~733.6417 ~~379~~357,~~272~~069.3680 0290,761.0091 0.00 68,~~344~~796,~~983~~564.0088 90 Days 2722 41 2012 0 5135 3,~~441~~334,~~932~~346.4070 ~~348~~78,~~565~~070.7784 21,~~691~~289,~~453~~406.9250 0.00 64,~~481~~701,~~952~~824.0904 120 Days 1021 32 1421 0 2744 ~~771~~1,~~349~~841,876.39 ~~290~~88,~~109~~057.0222 2,~~096~~877,~~791~~361.1145 0.00 34,~~158~~807,~~249~~295.5206 150 Days 84 54 1410 20 2918 ~~883~~336,~~808~~763.7382 ~~460~~592,~~731~~936.9731 21,~~065~~351,~~941~~398.1936 ~~431,856~~0.0100 32,~~842~~281,~~337~~098.9049 180+ Days 15 10 739 265 269 ~~45 608~~961,~~380~~971.7037 1,~~043~~341,~~352~~758.8180 35,~~479~~451,~~677~~572.3552 ~~135~~648,~~721~~236.4006 58,~~267~~403,~~132~~538.2675 Totals ~~273~~271 78 7485 45 ~~429~~439 2827,~~312~~889,~~116~~777.2289 5,~~920~~893,~~086~~082.6590 1011,~~333~~357,~~863~~078.5792 ~~567~~648,~~577~~236.4106 45,~~133~~788,~~643~~175.8577 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 1.~~537433~~693158% 0.~~000000~~034554% 0.000000% 1.~~537433~~727713% 01.~~888947~~034052% 0.~~000000~~032432% 0.000000% 01.~~888947~~066483% 30 Days 54.~~381016~~699378% 0.~~334225~~207326% 0.000000% 0.000000% 54.~~715241~~906704% 54.~~354444~~454830% 0.~~204423~~119506% 0.000000% 0.000000% 54.~~558866~~574336% 60 Days 12.~~905080~~522460% 0.~~100267~~207326% 0.~~000000~~069109% 0.000000% 2.~~005348~~798894% 12.~~919547~~736393% 0.~~122036~~119906% 0.~~000000~~097640% 0.000000% 2.~~041583~~953938% 90 Days 0.~~902406~~760194% 0.~~133690~~034554% 0.~~668449~~414651% 0.000000% 1.~~704545~~209399% 1.~~107488~~119693% 0.~~112156~~026217% 0.~~866011~~432990% 0.000000% 21.~~085655~~578900% 120 Days 0.~~334225~~725639% 0.~~100267~~069109% 0.~~467914~~725639% 0.000000% 01.~~902406~~520387% 0.~~248192~~618513% 0.~~093346~~029570% 0.~~674671~~966235% 0.000000% 1.~~016209~~614318% 150 Days 0.~~267380~~138217% 0.~~167112~~138217% 0.~~467914~~345543% 0.~~066845~~000000% 0.~~969251~~621977% 0.~~284377~~113087% 0.~~148247~~199112% 0.~~664744~~453808% 0.~~138955~~000000% 10.~~236324~~766006% 180+ Days 0.~~334225~~518314% 0.~~233957~~345543% 01.~~868984~~347616% 0.~~066845~~172771% 12.~~504011~~384243% 0.~~195755~~323036% 0.~~335713~~450571% 1.~~119633~~830670% 0.~~043670~~217682% 12.~~694770~~821958% Totals 9.~~124332~~364202% 2.~~606952~~695232% 2.~~473262~~937111% 0.~~133690~~172771% 1415.~~338235~~169316% 9.~~109803~~365552% 1.~~904867~~978932% 3.~~325059~~813774% 0.~~182626~~217682% 1415.~~522355~~375940%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~322~~325,~~364~~995.9357

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 8.~~029308~~037255% Weighted Average Net Coupon 7.~~529490~~537445% Weighted Average Pass-Through Rate 7.~~519490~~527445% Weighted Average Maturity(Stepdown Calculation) ~~323~~322 Beginning Scheduled Collateral Loan Count 32,~~095~~992 Number Of Loans Paid In Full ~~103~~98 Ending Scheduled Collateral Loan Count 2,~~992~~894 Beginning Scheduled Collateral Balance ~~325~~310,~~125~~416,~~857~~910.7083 Ending Scheduled Collateral Balance ~~310~~297,~~416~~288,~~910~~348.8373 Ending Actual Collateral Balance at 3029-~~Jun~~Jul-2005 ~~310~~297,~~787~~791,~~356~~065.1775 Monthly P&I Constant 2,~~540~~434,~~089~~832.9394 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 5364,~~511~~134.9276 Cumulative Realized Loss ~~165~~229,~~697~~832.6945 Scheduled Principal ~~364~~355,~~643~~749.5581 Unscheduled Principal 1412,~~344~~772,~~303~~812.3229 Required Overcollateralization Amount 7,301,008.91 Overcollateralized Increase Amount 1865,~~049,672~~082.7097 Overcollateralized reduction Amount 0.00 Specified O/C Amount 7,301,008.91 Overcollateralized Amount 56,~~653~~454,~~740~~688.3050 Overcollateralized Deficiency Amount 1846,~~647,268~~320.6140 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 1865,~~049,672~~082.7097 Excess Cash Amount 1865,~~049,672~~082.7097

Filing Compare · BSABS 2005-1