8-K 1 wmc0501_8k0601.txt 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): January 25, 2006 GE-WMC Mortgage Securities, L.L.C. (Depositor) Issuer in respect of GE-WMC Asset-Backed Pass-Through Certificates Series 2005-1 GE-WMC Mortgage Securities, L.L.C. (Exact name of registrant as specified in charter) Delaware 333-127360-01 20-3251258 (State or other (Commission File No.) (I.R.S. Employer jurisdiction of Identification No.) organization) 3100 Thornton Avenue, Burbank, CA 91504 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: 818-736-7023 Not Applicable (Former name, former address and former fiscal year, 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. []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)) Section 8 - Other Events Item 8.01 Other Events Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits SIGNATURES 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 thereunto duly authorized. Dated: January 25, 2006 GE-WMC Mort Sec LLC By: /s/ Gregory Macfarlane ------------------------------ Name: Gregory Macfarlane Treasurer EXHIBIT INDEX Exhibit 99 Monthly Remittance Statement dated January 25, 2006 Payment Date: 01/25/06 ------------------------------------------------------------ GE-WMC Mortgage Securities, L.L.C. GE-WMC Asset-Backed Pass-Through Certificates, Series 2005-1 ------------------------------------------------------------

Class Information Current Payment Information ---------------------------------------------------------------------------------------------------------------------------------- Beginning Pass Thru Principal Interest Total Principal Interest Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls ---------------------------------------------------------------------------------------------------------------------------------- Senior A1 ~~230~~218,~~365~~998,~~000~~518.0007 4.~~087500~~628750% 17,~~412~~045,~~485~~395.9818 ~~706~~816,~~212~~583.7012 27,~~118~~861,~~698~~978.6830 0.00 0.00 A2A ~~350~~323,~~000~~772,~~000~~915.0081 34.~~957500~~498750% 212,~~444~~696,~~602~~992.7749 1,~~038~~173,~~843~~350.7580 313,~~483~~870,~~446~~343.5229 0.00 0.00 A2B 122,000,000.00 4.~~077500~~618750% 0.00 ~~373~~453,~~091~~920.2549 ~~373~~453,~~091~~920.2549 0.00 0.00 A2C 86,693,000.00 4.~~197500~~738750% 0.00 ~~272~~330,~~920~~935.4048 ~~272~~330,~~920~~935.4048 0.00 0.00 M1C 3929,~~068~~814,~~000~~603.0075 40.~~277500~~000000% 0.00 ~~125~~1,~~335~~671,622.0361 ~~125~~1,~~335~~671,622.0361 0.00 0.00 M2P ~~35,469,000~~100.00 40.~~297500~~000000% 0.00 ~~114~~260,~~321~~087.0269 ~~114~~260,~~321~~087.0269 0.00 0.00 M3Residual ~~24,160,000~~R 0.00 40.~~317500~~000000% 0.00 ~~78,233~~0.1000 ~~78,233~~0.1000 0.00 0.00 M4RX ~~17,477,000~~0.00 40.~~427500~~000000% 0.00 ~~58,034~~0.5600 ~~58,034~~0.5600 0.00 0.00 M5---------------------------------------------------------------------------------------------------------------------------------- 17Subordinate M1 39,~~992~~068,000.00 4.~~457500~~818750% 0.00 60151,~~149~~653.5002 60151,~~149~~653.5002 0.00 0.00 M6M2 1535,~~421~~469,000.00 4.~~517500~~838750% 0.00 52138,~~248~~253.2897 52138,~~248~~253.2897 0.00 0.00 B1M3 1624,~~450~~160,000.00 4.~~957500~~858750% 0.00 6194,~~163~~562.1607 6194,~~163~~562.1607 0.00 0.00 B2M4 1117,~~823~~477,000.00 54.~~107500~~968750% 0.00 4569,~~289~~953.4851 4569,~~289~~953.4851 0.00 0.00 B3M5 1117,~~823~~992,000.00 54.~~537500~~998750% 0.00 4972,~~102~~449.4066 4972,~~102~~449.4066 0.00 0.00 B4M6 915,~~253~~421,000.00 65.~~587500~~058750% 0.00 4562,~~715~~842.6018 4562,~~715~~842.6018 0.00 0.00 B5B1 1016,~~281~~450,000.00 65.~~587500~~498750% 0.00 5072,~~794~~866.5707 5072,~~794~~866.5707 0.00 0.00 CB2 2911,~~814~~823,~~684~~000.6100 05.~~000000~~648750% 0.00 253,~~142,160~~799.4617 253,~~142,160~~799.4617 0.00 0.00 PB3 ~~100~~11,823,000.00 06.~~000000~~078750% 0.00 457,~~042~~894.6352 457,~~042~~894.6352 0.00 0.00 ~~Residual~~B4 ~~R 0~~9,253,000.00 06.~~000000~~811353% 0.00 053,136.0032 053,136.0032 0.00 0.00 RXB5 010,281,000.00 06.~~000000~~811353% 0.00 059,039.0071 059,039.0071 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ~~----------------------------------------------------------------------------------------------------------------------------------~~ Totals - - 2990,~~026~~496,~~364,784~~137.6163 - 319,~~857~~742,~~088~~387.7567 5,~~277~~592,~~657~~950.8840 925,~~134~~335,~~746~~338.6407 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior A1 ~~228~~211,~~952~~953,~~514~~122.0289 0.00 A2A ~~347~~311,~~555~~075,~~397~~923.2332 0.00 A2B 122,000,000.00 0.00 A2C 86,693,000.00 0.00 C 29,814,603.75 0.00 P 100.00 0.00 Residual R 0.00 0.00 RX 0.00 0.00 -------------------------------------------------------------------------------- Subordinate M1 39,068,000.00 0.00 M2 35,469,000.00 0.00 M3 24,160,000.00 0.00 M4 17,477,000.00 0.00 M5 17,992,000.00 0.00 M6 15,421,000.00 0.00 B1 16,450,000.00 0.00 B2 11,823,000.00 0.00 B3 11,823,000.00 0.00 B4 9,253,000.00 0.00 B5 10,281,000.00 0.00 ~~C 29,814,603.75 0.00 P 100.00 0.00 Residual R 0.00 0.00 RX 0.00 0.00~~ -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- ~~--------------------------------------------------------------------------------~~ Totals - - 2970,~~022~~753,~~507,615~~749.0096 - --------------------------------------------------------------------------------

Payment Date: 01/25/06 ------------------------------------------------------------ GE-WMC Mortgage Securities, L.L.C. GE-WMC Asset-Backed Pass-Through Certificates, Series 2005-1 ------------------------------------------------------------

Class Information Current Payment Information Factors per $1,000 ------------------------------------------------------------------------------------------------------------------------ Beginning Pass Thru CUSIP Principal Interest Ending Cert./ Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal. ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Senior A1 ~~230~~218,~~365~~998,~~000~~518.0007 4.~~087500~~628750% 367910AA4 630.~~131513~~583618 3.~~065625~~544736 ~~993~~920.~~868487~~075198 A2A ~~350~~323,~~000~~772,~~000~~915.0081 34.~~957500~~498750% 367910AB2 636.~~984579~~277121 23.~~968125~~352431 ~~993~~888.~~015421~~788352 A2B 122,000,000.00 4.~~077500~~618750% 367910AC0 0.000000 3.~~058125~~720660 1,000.000000 A2C 86,693,000.00 4.~~197500~~738750% 367910AD8 0.000000 3.~~148125~~817326 1,000.000000 M1C 3929,~~068~~814,~~000~~603.0075 40.~~277500~~000000% ~~367910AE6~~C 0.000000 356.~~208125~~067090 ~~1,000~~999.~~000000~~997288 M2P ~~35,469,000~~100.00 40.~~297500~~000000% ~~367910AF3~~P 0.000000 32,600,876.~~223125~~900000 1,000.000000 M3Residual ~~24,160,000~~R 0.00 40.~~317500~~000000% ~~367910AG1~~R 0.000000 30.~~238125~~000000 ~~1,000~~0.000000 M4RX ~~17,477,000~~0.00 40.~~427500~~000000% ~~367910AH9~~RX 0.000000 30.~~320625~~000000 ~~1,000~~0.000000 M5------------------------------------------------------------------------------------------------------------------------ 17Subordinate M1 39,~~992~~068,000.00 4.~~457500~~818750% ~~367910AJ5~~367910AE6 0.000000 3.~~343125~~881771 1,000.000000 M6M2 1535,~~421~~469,000.00 4.~~517500~~838750% ~~367910AK2~~367910AF3 0.000000 3.~~388125~~897882 1,000.000000 B1M3 1624,~~450~~160,000.00 4.~~957500~~858750% ~~367910AL0~~367910AG1 0.000000 3.~~718125~~913993 1,000.000000 B2M4 1117,~~823~~477,000.00 54.~~107500~~968750% ~~367910AM8~~367910AH9 0.000000 34.~~830625~~002604 1,000.000000 B3M5 1117,~~823~~992,000.00 54.~~537500~~998750% ~~367910AN6~~367910AJ5 0.000000 4.~~153125~~026771 1,000.000000 B4M6 915,~~253~~421,000.00 65.~~587500~~058750% ~~367910AP1~~367910AK2 0.000000 4.~~940625~~075104 1,000.000000 B5B1 1016,~~281~~450,000.00 65.~~587500~~498750% ~~367910AQ9~~367910AL0 0.000000 4.~~940625~~429549 1,000.000000 CB2 2911,~~814~~823,~~684~~000.6100 05.~~000000~~648750% C367910AM8 0.000000 714.~~849174~~550382 ~~999~~1,000.~~997288~~000000 PB3 ~~100~~11,823,000.00 06.~~000000~~078750% P367910AN6 0.000000 ~~40,426~~4.~~300000~~896771 1,000.000000 ~~Residual~~B4 ~~R 0~~9,253,000.00 06.~~000000~~811353% R367910AP1 0.000000 05.~~000000~~742604 01,000.000000 RXB5 010,281,000.00 06.~~000000~~811353% RX367910AQ9 0.000000 05.~~000000~~742604 01,000.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ ~~------------------------------------------------------------------------------------------------------------------------~~ Totals - - 2990,~~026~~496,~~364,784~~137.6163 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ GE-WMC Mortgage Securities, L.L.C. GE-WMC Asset-Backed Pass-Through Certificates, Series 2005-1 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 281,738,309.46 689,015,440.50 970,753,749.96 Loan count 1911 3079 4990 Avg loan rate 7.080663% 7.090604% 7.09 Prepay amount 6,889,294.96 12,356,507.76 19,245,802.72 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 120,204.17 291,703.87 411,908.04 Sub servicer fees 0.00 0.00 0.00 Trustee fees 746.02 1,812.76 2,558.78 Agg advances N/A N/A N/A Adv this period 116,394.12 410,860.01 527,254.13 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Total ----- Realized losses 0.00 0.00 0.00 Cumulative losses 0.00 0.00 0.00 Coverage Amounts Total ---------------- ----- Bankruptcy 0.00 0.00 0.00 Fraud 6,003,004.32 14,558,791.37 20,561,795.69 Special Hazard 0.00 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 89.480087% 100.000000% 1,779,554,137.63 ----------------------------------------------------------------------------- Junior 10.519913% 0.000000% 209,217,000.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 111 22,666,606.73 60 to 89 days 51 12,053,303.90 90 or more 29 6,230,372.35 Foreclosure 2 684,008.38 Totals: 193 41,634,291.36 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- REO INFORMATION -------------------------------------------------------------------------------- REO Date Loan Number Ending Stated Balance Book Value -------- ----------- --------------------- ---------- N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A Totals: 0 N/A Current Total Outstanding Balance: 0.00 Current Total Outstanding Number of Loans: 0 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 25,335,338.07 25,335,338.07 Principal remittance amount 19,742,387.67 19,742,387.67 Interest remittance amount 5,592,950.40 5,592,950.40

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