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) May 25, 2005

Bear Stearns Asset Backed Securities I LLC
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-113636
(Commission
File Number)

20-0842986
(IRS Employer
Identification No.)

383 Madison Avenue, New York, New York
(Address of principal executive offices)

10179
(Zip Code)

Registrant's telephone number, including area code 212-272-2000

(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))

Section 8 - Other Events

Item 8.01. Other Events.

This current report on Form 8-K relates to the monthly distribution reported to the holders of Bear Stearns Asset Backed Securities I Trust 2005-HE3 Asset-Backed Certificates, Series 2005-HE3, which was made on May 25, 2005.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to section 5.06 of the Pooling and Servicing Agreement for the distribution on May 25, 2005.

(Exhibit No. Description)

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 hereunto duly authorized.

LASALLE BANK NATIONAL ASSOCIATION, IN ITS CAPACITY AS TRUSTEE UNDER THE POOLING AND SERVICING AGREEMENT ON BEHALF OF BEAR STEARNS ASSET BACKED SECURITIES I LLC, REGISTRANT

By: /s/ Russell Goldenberg
Russell Goldenberg
Group Senior Vice President

Date: May 31, 2005

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Reporting Package Table of Contents

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Administrator:
Christopher Lewis 312.904.7992
christopher.lewis@abnamro.com

Analyst:
Brian Scheff 714.259.6278
brian.scheff@abnamro.com

Statement Date:

135 S. LaSalle Street, Suite 1625
Chicago, IL 60603
USA

Statements to Certificateholders
Cash Reconciliation Summary
Bond Interest Reconciliation
Bond Principal Reconciliation

Shortfall Summary Report

Swap Summary Report
Rating Information

Asset-Backed Facts ~ 15 Month Loan Status Summary Part I
Asset-Backed Facts ~ 15 Month Loan Status Summary Part II
Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary

Page 2-3
Page 4-16
Page 17
Page 18

Page 19

Page 20
Page 21

Page 22-34
Page 35-47

Page 48-60

Realized Loss Detail

Page 61

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

BS005HE3

BS005HE3_200505_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

31-Mar-05
25-Apr-05

26-Mar-35

Parties to The Transaction

Issuer: Bear Stearns & Co. Inc.

Underwriter: Bear Stearns & Co. Inc.

Master Servicer: EMC Mortgage Corporation

Rating Agency: Moody's Investors Service, Inc./Standard & Poor's

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.emcmortgagecorp.com

www.etrustee.net

Page 1 of 61

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.271861%

3.020000%
3.090000%

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2005-HE3

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

350

Bond Payments

Statement Date:

ABN AMRO Acct: 722497.2

972.445997841

50.760596703

0.000000000

921.685401138

2.512152166

3.170000000%

0.00

0.000000000

3.10000000%

0.000000000

073879RP5

I-A-1

126,914,000.00

6,442,230.37

0.00

116,974,781.00

318,827.28

123,417,011.37

1000.000000000

0.000000000

1000.000000000

2.675000000

3.280000000%

0.00

0.000000000

3.21000000%

0.000000000

073879RQ3

I-A-2

59,306,000.00

0.00

59,306,000.00

158,643.55

59,306,000.00

1000.000000000

0.000000000

1000.000000000

2.766666920

3.390000000%

0.00

0.000000000

3.32000000%

0.000000000

073879RR1

I-A-3

13,183,000.00

0.00

13,183,000.00

36,472.97

13,183,000.00

985.994939724

3.953346098

0.000000000

982.041593625

2.670403043

3.320000000%

0.00

0.000000000

3.25000000%

0.000000000

073879RS9

II-A-1

58,232,000.00

230,211.25

0.00

57,186,246.08

155,502.91

57,416,457.33

985.994940239

3.953345927

0.000000000

982.041594312

2.711485781

3.370000000%

0.00

0.000000000

3.30000000%

0.000000000

073879RT7

II-A-2

14,558,000.00

57,552.81

0.00

14,296,561.53

39,473.81

14,354,114.34

980.572981683

20.990288026

0.000000000

959.582693657

2.655718488

3.320000000%

0.00

0.000000000

3.25000000%

0.000000000

073879RU4

III-A-1

215,536,000.00

4,524,162.72

0.00

206,824,615.46

572,402.94

211,348,778.18

980.572981776

20.990288026

0.000000000

959.582693750

2.696575792

3.370000000%

0.00

0.000000000

3.30000000%

0.000000000

073879RV2

III-A-2

53,884,000.00

1,131,040.68

0.00

51,706,153.87

145,302.29

52,837,194.55

1000.000000000

0.000000000

1000.000000000

2.875000000

3.520000000%

0.00

0.000000000

3.45000000%

0.000000000

073879RW0

M-1

52,098,000.00

0.00

52,098,000.00

149,781.75

52,098,000.00

1000.000000000

0.000000000

1000.000000000

3.083333247

3.770000000%

0.00

0.000000000

3.70000000%

0.000000000

073879RX8

M-2

38,812,000.00

0.00

38,812,000.00

119,670.33

38,812,000.00

1000.000000000

0.000000000

1000.000000000

3.150000000

3.850000000%

0.00

0.000000000

3.78000000%

0.000000000

073879RY6

M-3

12,238,000.00

0.00

12,238,000.00

38,549.70

12,238,000.00

1000.000000000

0.000000000

1000.000000000

3.558333651

4.340000000%

0.00

0.000000000

4.27000000%

0.000000000

073879RZ3

M-4

10,490,000.00

0.00

10,490,000.00

37,326.92

10,490,000.00

1000.000000000

0.000000000

1000.000000000

3.691667064

4.500000000%

0.00

0.000000000

4.43000000%

0.000000000

073879SA7

M-5

8,392,000.00

0.00

8,392,000.00

30,980.47

8,392,000.00

1000.000000000

0.000000000

1000.000000000

4.100000000

4.990000000%

0.00

0.000000000

4.92000000%

0.000000000

073879SB5

M-6

6,993,000.00

0.00

6,993,000.00

28,671.30

6,993,000.00

1000.000000000

0.000000000

1000.000000000

5.016666667

6.090000000%

0.00

1,252.30

0.198967270

5.78123906%

0.000000000

073879SC3

M-7

6,294,000.00

0.00

6,294,000.00

31,574.90

6,294,000.00

1000.000000000

0.000000000

1000.000000000

5.016666667

6.090000000%

0.00

1,391.38

0.198967539

5.78123906%

0.000000000

073879SD1

M-8

6,993,000.00

0.00

6,993,000.00

35,081.55

6,993,000.00

Page 2 of 61

Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.271861%

3.020000%
3.090000%

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2005-HE3

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

350

Bond Payments

Statement Date:

ABN AMRO Acct: 722497.2

1000.000000000

0.000000000

1000.000000000

92.547887873

0.00

1,423,816.53

92.547887873

N/A

0.000000000

073879SE9

15,384,646.40

0.00

15,384,646.40

1,423,816.53

15,384,646.40

1000.000000000

0.000000000

1000.000000000

1534718.200000000

0.00

153,471.82

1534718.200000000

N/A

0.000000000

073879SF6

100.00

0.00

100.00

153,471.82

100.00

0.000000000

0.00

0.000000000

N/A

0.000000000

073879SG4

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

073879SH2

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

073879SJ8

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSV0770

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSV0788

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

073879SK5

0.00

Total P&I Payment

0.00

1,579,932.03

699,307,746.40

689,557,302.17

15,860,748.85

Total

677,172,104.34

12,385,197.83

0.00

3,475,551.02

Page 3 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary

Interest Summary

Total Trustee Fees

Available Interest

4,041,690.07

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

361,866.32

15,750.74

12,007,581.73

0.00
0.00
0.00

16,429,991.87

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

689,557,202.17

361,866.32

12,023,332.47

0.00
0.00
0.00

677,172,004.34

4,051

0
0

3,992

275,149.13

Extra Principal

Trigger Event

0.00

12,385,198.79

Over Collateralization Amt

15,384,647.36

Less Extra Principal

Remittance Interest

0.00

4,041,690.07

0.00

12,023,332.47

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(3,103.01

4,044,793.08

Total Fees

278,252.13

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

3,103.01

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 4 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group I Loans - Fixed 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

107,427.46

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

17,237.93

583.37

0.00
0.00
0.00
0.00

125,336.79

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

19,563,356.32

17,237.93

583.37

0.00
0.00
0.00

19,545,535.02

102

0
0

102

8,151.40

Trigger Event

17,821.30

Over Collateralization Amt

15,384,647.36

Remittance Interest

107,427.46

0.00

583.37

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(88.04

107,515.49

Total Fees

8,239.43

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

88.04

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 5 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group I Loans - ARM 228 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

1,106,958.83

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

83,817.61

2,592.25

4,753,572.56

0.00
0.00
0.00

5,947,799.21

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

190,658,088.85

83,817.61

4,756,164.81

0.00
0.00
0.00

185,818,106.43

792

0
0

777

72,949.78

Trigger Event

4,839,982.42

Over Collateralization Amt

15,384,647.36

Remittance Interest

1,106,958.83

0.00

4,756,164.81

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(857.96

1,107,816.79

Total Fees

73,807.74

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

857.96

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 6 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group I Loans - ARM 327 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

156,112.40

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

12,570.59

526.63

1,160,664.54

0.00
0.00
0.00

1,329,997.83

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

27,483,405.01

12,570.59

1,161,191.17

0.00
0.00
0.00

26,309,643.25

105

0
0

102

10,797.22

Trigger Event

1,173,761.76

Over Collateralization Amt

15,384,647.36

Remittance Interest

156,112.40

0.00

1,161,191.17

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(123.68

156,236.07

Total Fees

10,920.89

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

123.68

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 7 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group I Loans - Fixed 2nd Lien

Interest Summary

Total Trustee Fees

Available Interest

133,334.98

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

7,665.99

)

(1,520.53

404,519.93

0.00
0.00
0.00

544,073.53

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

16,258,731.20

7,665.99

402,999.40

0.00
0.00
0.00

15,848,065.81

217

0
0

212

5,385.35

Trigger Event

410,665.39

Over Collateralization Amt

15,384,647.36

Remittance Interest

133,334.98

0.00

402,999.40

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(73.16

133,408.14

Total Fees

5,458.51

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

73.16

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 8 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group II Loans - Fixed 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

72,188.09

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

10,763.16

1,002.56

0.00
0.00
0.00
0.00

84,009.57

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

12,392,995.75

10,763.16

1,002.56

0.00
0.00
0.00

12,381,230.03

0
0

5,163.75

Trigger Event

11,765.72

Over Collateralization Amt

15,384,647.36

Remittance Interest

72,188.09

0.00

1,002.56

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(55.77

72,243.85

Total Fees

5,219.52

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

55.77

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 9 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group II Loans - ARM 228 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

377,843.56

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

42,965.03

2,204.25

163,638.02

0.00
0.00
0.00

586,965.85

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

69,998,313.86

42,965.03

165,842.27

0.00
0.00
0.00

69,789,506.56

408

0
0

407

28,993.80

Trigger Event

208,807.30

Over Collateralization Amt

15,384,647.36

Remittance Interest

377,843.56

0.00

165,842.27

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(314.99

378,158.55

Total Fees

29,308.80

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

314.99

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 10 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group II Loans - ARM 327 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

27,166.06

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

2,240.79

64.90

0.00
0.00
0.00
0.00

29,494.11

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

4,969,028.69

2,240.79

64.90

0.00
0.00
0.00

4,966,723.00

0
0

2,070.43

Trigger Event

2,305.69

Over Collateralization Amt

15,384,647.36

Remittance Interest

27,166.06

0.00

64.90

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(22.36

27,188.42

Total Fees

2,092.79

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

22.36

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 11 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group II Loans - Fixed 2nd Lien

Interest Summary

Total Trustee Fees

Available Interest

45,934.94

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

2,492.64

526.93

61,865.80

0.00
0.00
0.00

110,845.53

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

5,603,979.22

2,492.64

62,392.73

0.00
0.00
0.00

5,539,093.85

144

0
0

142

2,253.86

Trigger Event

64,885.37

Over Collateralization Amt

15,384,647.36

Remittance Interest

45,934.94

0.00

62,392.73

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(25.22

45,960.16

Total Fees

2,279.08

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

25.22

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 12 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group III Loans - Fixed 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

298,494.38

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

40,399.17

2,791.32

512,737.78

0.00
0.00
0.00

854,644.39

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

49,275,825.48

40,399.17

515,529.10

0.00
0.00
0.00

48,719,897.21

367

0
0

363

20,114.49

Trigger Event

555,928.27

Over Collateralization Amt

15,384,647.36

Remittance Interest

298,494.38

0.00

515,529.10

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(221.74

298,716.12

Total Fees

20,336.23

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

221.74

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 13 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group III Loans - ARM 228 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

1,464,969.60

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

121,138.43

5,557.43

4,165,759.34

0.00
0.00
0.00

5,758,559.80

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

252,221,205.87

121,138.43

4,171,316.77

0.00
0.00
0.00

247,928,751.63

1,457

0
0

1,433

102,424.94

Trigger Event

4,292,455.20

Over Collateralization Amt

15,384,647.36

Remittance Interest

1,464,969.60

0.00

4,171,316.77

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(1,135.00

1,466,104.60

Total Fees

103,559.93

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

1,135.00

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 14 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group III Loans - ARM 327 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

211,648.13

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

17,813.37

1,043.73

734,894.07

0.00
0.00
0.00

965,562.83

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

36,339,734.52

17,813.37

735,937.80

0.00
0.00
0.00

35,585,983.35

214

0
0

211

14,891.69

Trigger Event

753,751.17

Over Collateralization Amt

15,384,647.36

Remittance Interest

211,648.13

0.00

735,937.80

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(163.53

211,811.66

Total Fees

15,055.22

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

163.53

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 15 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Statement Date:

Cash Reconciliation Summary Group III Loans - Fixed 2nd Lien

Interest Summary

Total Trustee Fees

Available Interest

39,611.65

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

2,761.61

377.90

49,929.69

0.00
0.00
0.00

92,702.42

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

4,792,537.40

2,761.61

50,307.59

0.00
0.00
0.00

4,739,468.20

120

0
0

118

1,952.42

Trigger Event

53,069.20

Over Collateralization Amt

15,384,647.36

Remittance Interest

39,611.65

0.00

50,307.59

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(21.57

39,633.22

Total Fees

1,973.99

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.33

0.00

21.57

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 16 of 61

Bear Stearns Asset Backed Securities I Trust

Class

Accrued

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Bond Interest Reconciliation

Deductions

Allocable

Deferred &

Prior

Prepay-

Other

Additions

Interest

Credit Support

Original

Current(4)

Accrual

Int. Short-

falls Due

ment

Interest

Int erest (2)

Payment

Amount

PPIS

Int erest

Certificate

Accretion

Interest

Loss/Exp

Interest

Penalties

Proceeds (1)

Interest

Shortfalls

Certificate

Rate

Pass

Thru

Method Days

Outstanding

Remaining

Statement Date:

Distributable

Current Period

(Shortfall)/

Recovery

Int Accrual

on Prior

Shortfall (3)

4.00
1.00

0.00

I-A-1

318,827.28

0.00

20.81%

21.50%

Act/360

3.100000000%

0.00

I-A-2

158,643.55

0.00

20.81%

21.50%

Act/360

3.210000000%

0.00

I-A-3

36,472.97

0.00

20.81%

21.50%

Act/360

3.320000000%

0.00

II-A-1

155,502.91

0.00

20.81%

21.50%

Act/360

3.250000000%

0.00

II-A-2

39,473.81

0.00

20.81%

21.50%

Act/360

3.300000000%

0.00

III-A-1

572,402.94

0.00

20.81%

21.50%

Act/360

3.250000000%

0.00

III-A-2

145,302.29

0.00

20.81%

21.50%

Act/360

3.300000000%

0.00

M-1

149,781.75

0.00

13.19%

13.63%

Act/360

3.450000000%

0.00

M-2

119,670.33

0.00

7.52%

7.77%

Act/360

3.700000000%

0.00

M-3

38,549.70

0.00

5.73%

5.92%

Act/360

3.780000000%

0.00

M-4

37,326.92

0.00

4.19%

4.33%

Act/360

4.270000000%

0.00

M-5

30,980.47

0.00

2.97%

3.06%

Act/360

4.430000000%

0.00

M-6

28,671.30

0.00

1.94%

2.01%

Act/360

4.920000000%

0.00

M-7

30,322.60

31,574.90

1,252.30

1.02%

1.06%

Act/360

5.781239061%

)

(1,252.30

0.00

M-8

33,690.17

35,081.55

1,391.38

0.00%

Act/360

5.781239061%

)

(1,391.38

0.00

1,423,816.53

0.00

0.000000000%

0.00

153,471.82

0.00

153,471.82

0.00

0.000000000%

0.00

153,471.82

0.00

1,895,618.99

2,049,090.81

3,475,551.02

2,643.68

)

(2,643.68

0.00

(2) Accrued - Deductions + Additions Interest

(3) Includes interest accrued on outstanding Interest Shortfalls and/or Loss Allocations. Where applicable.

Page 17 of 61

(1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

(4) Determined as follows: (A) the ending balance of all the classes less (B) the sum of (i) the ending balance of the class and (ii) the ending balance of all classes which are not subordinate to the class divided by (A).

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Bond Principal Reconciliation

Credit Support

Original

Current(4)

Statement Date:

Beginning

Class Balance

Unscheduled

Principal

Payment

Extra

Principal

Payment Amt

Prior

Loss

Reimburs.

Rated

Final

Maturity

Class

Current

Losses

Original

Class Balance

Scheduled

Principal

Payment

Ending

Class Balance

Cumulative

Losses

Interest on

Losses

Additions

Losses

4.00
1.00

I-A-1

20.81%

21.50%

3/26/2035

116,974,781.00

0.00

123,417,011.37

126,914,000.00

121,292.12

0.00

6,320,938.25

I-A-2

20.81%

21.50%

3/26/2035

59,306,000.00

0.00

59,306,000.00

0.00

I-A-3

20.81%

21.50%

3/26/2035

13,183,000.00

0.00

13,183,000.00

0.00

II-A-1

20.81%

21.50%

3/26/2035

57,186,246.08

0.00

57,416,457.33

58,232,000.00

46,769.30

0.00

183,441.95

II-A-2

20.81%

21.50%

3/26/2035

14,296,561.53

0.00

14,354,114.34

14,558,000.00

11,692.32

0.00

45,860.49

III-A-1

20.81%

21.50%

3/26/2035

206,824,615.46

0.00

211,348,778.18

215,536,000.00

145,690.06

0.00

4,378,472.66

III-A-2

20.81%

21.50%

3/26/2035

51,706,153.87

0.00

52,837,194.55

53,884,000.00

36,422.52

0.00

1,094,618.16

M-1

13.19%

13.63%

3/26/2035

52,098,000.00

0.00

52,098,000.00

0.00

M-2

7.52%

7.77%

3/26/2035

38,812,000.00

0.00

38,812,000.00

0.00

M-3

5.73%

5.92%

3/26/2035

12,238,000.00

0.00

12,238,000.00

0.00

M-4

4.19%

4.33%

3/26/2035

10,490,000.00

0.00

10,490,000.00

0.00

M-5

2.97%

3.06%

3/26/2035

8,392,000.00

0.00

8,392,000.00

0.00

M-6

1.94%

2.01%

3/26/2035

6,993,000.00

0.00

6,993,000.00

0.00

M-7

1.02%

1.06%

3/26/2035

6,294,000.00

0.00

6,294,000.00

0.00

M-8

0.00%

3/26/2035

6,993,000.00

0.00

6,993,000.00

0.00

3/26/2035

15,384,646.40

0.00

15,384,646.40

0.00

3/26/2035

100.00

0.00

100.00

0.00

361,866.32

0.00

12,023,331.51

0.00

699,307,746.40

677,172,104.34

689,557,302.17

Page 18 of 61

(1) Extra Principal Amounts: the lessor of (i) the excess, if any, of the overcollateralization Target Amount over the Overcollateralization Amount.

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Interest Adjustments Summary

Statement Date:

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

0.00

Misc. Fees & Expenses Paid by/to Servicer

Interest Paid to Servicer on Outstanding Advances

0.00

ASER Interest Advance Reduction

Interest Not Advanced (Current Period)

Recoup of Prior Advances by Servicer

0.00

Servicing Fees Paid Servicer on Loans Not Advanced

Misc. Fees & Expenses Paid by Trust

0.00

Shortfall Due to Rate Modification

Total Shortfall Allocated to the Bonds

Total Interest Adjustment to the Bonds

0.00

Shortfall Allocated to the Bonds:

Excess Allocated to the Bonds:

Other Interest Proceeds Due the Bonds

Yield Maintenance Penalties Due the Bonds

Prepayment Penalties Due the Bonds

Recovered ASER Interest Due the Bonds

Recovered Interest Due the Bonds

Less Total Shortfall Allocated to the Bonds

Total Excess Allocated to the Bonds

153,471.82

153,471.82

Total Excess Allocated to the Bonds

153,471.82

0.00

Aggregate Interest Adjustment Allocated to the Bonds

0.00

153,471.82

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Other Interest Loss

Interest Income

0.00

Page 19 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

SWAP Payments

Statement Date:

Net Swap payment payable to the Swap Provider

Net Swap payment payable to the Swap Administrator

Swap Termination payment payable to the Swap Administrator

Swap Termination payment payable to the Swap Provider

0.00

566,139.06

0.00

Page 20 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Rating Information

Class

CUSIP

Fitch

Moody's

S&P

Fitch

Moody's

S&P

Original Ratings

Rating Change/Change Date(1)

Statement Date:

I-A-1

073879RP5

Aaa

AAA

I-A-2

073879RQ3

Aaa

AAA

I-A-3

073879RR1

Aaa

AAA

II-A-1

073879RS9

Aaa

AAA

II-A-2

073879RT7

Aaa

AAA

III-A-1

073879RU4

Aaa

AAA

III-A-2

073879RV2

Aaa

AAA

M-1

073879RW0

Aa2

M-2

073879RX8

M-3

073879RY6

A-

M-4

073879RZ3

Ba1

BBB+

M-5

073879SA7

Ba2

BBB

M-6

073879SB5

Baa3

BBB-

M-7

073879SC3

BB+

4/1/05

M-8

073879SD1

4/1/05

073879SE9

073879SF6

Page 21 of 61

NR - Designates that the class was not rated by the rating agency.

(1)

Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be understood that this transmission will generally have been provided to

LaSalle within 30 days of the payment date listed on this statement. Because ratings may have changed during the 30 day window, or may not be being provided by the rating agency in an electronic format and therefore not
being updated on this report, LaSalle recommends that investors obtain current rating information directly from the rating agency.

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

2.20%

2.15%

0.45%

0.51%

0.10%

359,606

0.05%

0.00%

25-May-05

14,540,135

3,464,248

3,882

658,808,015

97.24%

97.29%

1.06%

1.20%

0.00%

0.02%

57,673

0.01%

0.00%

25-Apr-05

8,250,780

4,007

681,248,749

98.91%

98.80%

Page 22 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group I Loans - Fixed 1st Lien

2.94%

3.63%

0.98%

2.66%

0.00%

25-May-05

708,526

520,719

18,316,290

96.08%

93.71%

0.98%

2.66%

0.00%

25-Apr-05

521,043

101

19,042,314

99.02%

97.34%

Page 23 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group I Loans - ARM 228 1st Lien

2.19%

2.06%

0.51%

0.44%

0.00%

25-May-05

3,831,683

826,207

756

181,160,216

97.30%

97.49%

1.64%

1.54%

0.00%

25-Apr-05

2,936,916

779

187,721,173

98.36%

98.46%

Page 24 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group I Loans - ARM 327 1st Lien

3.92%

4.47%

0.98%

0.67%

0.00%

25-May-05

1,175,265

175,451

24,958,927

95.10%

94.87%

1.90%

2.47%

0.00%

25-Apr-05

680,013

103

26,803,392

98.10%

97.53%

Page 25 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group I Loans - Fixed 2nd Lien

2.83%

3.38%

0.00%

25-May-05

535,145

206

15,312,921

97.17%

96.62%

0.00%

25-Apr-05

217

16,258,731

100.00%

Page 26 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group II Loans - Fixed 1st Lien

0.00%

1.03%

1.20%

0.00%

25-May-05

149,051

12,232,179

98.97%

98.80%

1.03%

1.20%

0.00%

25-Apr-05

149,159

12,243,837

98.97%

98.80%

Page 27 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group II Loans - ARM 228 1st Lien

3.44%

3.19%

0.49%

0.71%

0.00%

25-May-05

2,226,209

495,079

391

67,068,219

96.07%

96.10%

0.49%

0.71%

0.00%

25-Apr-05

495,311

406

69,503,003

99.51%

99.29%

Page 28 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group II Loans - ARM 327 1st Lien

3.57%

4.76%

0.00%

25-May-05

236,168

4,730,555

96.43%

95.24%

0.00%

25-Apr-05

4,969,029

100.00%

Page 29 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group II Loans - Fixed 2nd Lien

2.11%

2.45%

0.70%

0.97%

0.00%

25-May-05

135,541

53,906

138

5,349,647

97.18%

96.58%

1.39%

1.61%

0.00%

25-Apr-05

90,274

142

5,513,705

98.61%

98.39%

Page 30 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group III Loans - Fixed 1st Lien

0.28%

0.09%

0.28%

0.20%

1.10%

359,606

0.74%

0.00%

25-May-05

43,416

95,705

357

48,221,171

98.35%

98.98%

0.54%

0.30%

0.00%

25-Apr-05

148,600

365

49,127,225

99.46%

99.70%

Page 31 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group III Loans - ARM 228 1st Lien

2.23%

1.96%

0.28%

0.35%

0.00%

25-May-05

4,868,323

863,250

1,397

242,197,179

97.49%

97.69%

1.10%

1.08%

0.00%

25-Apr-05

2,711,517

1,441

249,509,689

98.90%

98.92%

Page 32 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group III Loans - ARM 327 1st Lien

1.90%

1.88%

0.95%

0.68%

0.00%

25-May-05

669,277

241,554

205

34,675,153

97.16%

97.44%

1.40%

1.31%

0.00%

25-Apr-05

474,602

211

35,865,133

98.60%

98.69%

Page 33 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Group III Loans - Fixed 2nd Lien

2.54%

2.33%

0.85%

0.91%

0.00%

25-May-05

110,583

43,327

114

4,585,558

96.61%

96.75%

0.83%

0.90%

0.00%

0.83%

57,673

1.20%

0.00%

25-Apr-05

43,344

118

4,691,520

98.33%

97.89%

Page 34 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

477,245

0.00%

0.00% 0.03%

0.07% 0.00%

0.00%

0.03%

0.02%

156,336

0.00%

25-Apr-05

477,710

0.00%

0.02%

0.07% 0.00%

0.00% 0.00%

0.00%

Page 35 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group I Loans - Fixed 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 36 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group I Loans - ARM 228 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

477,245

0.00%

0.00% 0.13%

0.26% 0.00%

0.00%

0.13%

0.08%

156,336

0.00%

25-Apr-05

477,710

0.00%

0.13%

0.25% 0.00%

0.00% 0.00%

0.00%

Page 37 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group I Loans - ARM 327 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 38 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group I Loans - Fixed 2nd Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 39 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group II Loans - Fixed 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 40 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group II Loans - ARM 228 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 41 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group II Loans - ARM 327 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 42 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group II Loans - Fixed 2nd Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 43 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group III Loans - Fixed 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 44 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group III Loans - ARM 228 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 45 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group III Loans - ARM 327 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 46 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance

# Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group III Loans - Fixed 2nd Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

Page 47 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

25-May-05

3,992

97.39%

677,172,004

96.83%

1.46%

1.74%

0.00%

350

7.27%

6.77%

12,007,582

0.00

25-Apr-05

4,051

98.83%

689,557,202

98.61%

1.17%

1.28%

0.00%

351

7.28%

6.77%

8,985,380

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 48 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group I Loans - Fixed 1st Lien

25-May-05

102

2.49%

19,545,535

2.79%

0.00%

346

7.09%

6.59%

0.00

25-Apr-05

102

2.49%

19,563,356

2.80%

0.00%

347

7.09%

6.59%

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 49 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group I Loans - ARM 228 1st Lien

25-May-05

777

18.96%

185,818,106

26.57%

1.89%

2.49%

0.00%

355

7.07%

6.56%

4,753,573

0.00

25-Apr-05

792

19.32%

190,658,089

27.26%

1.00%

1.30%

0.00%

356

7.08%

6.57%

2,522,917

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 50 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group I Loans - ARM 327 1st Lien

25-May-05

102

2.49%

26,309,643

3.76%

2.86%

4.22%

0.00%

355

6.95%

6.45%

1,160,665

0.00

25-Apr-05

105

2.56%

27,483,405

3.93%

2.78%

1.88%

0.00%

356

6.96%

6.45%

526,105

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 51 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group I Loans - Fixed 2nd Lien

25-May-05

212

5.17%

15,848,066

2.27%

2.30%

2.49%

0.00%

275

10.17%

9.67%

404,520

0.00

25-Apr-05

217

5.29%

16,258,731

2.32%

0.91%

1.13%

0.00%

274

10.17%

9.67%

185,902

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 52 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group II Loans - Fixed 1st Lien

25-May-05

2.37%

12,381,230

1.77%

0.00%

349

7.50%

6.99%

0.00

25-Apr-05

2.37%

12,392,996

1.77%

1.02%

2.24%

0.00%

349

7.46%

6.95%

284,708

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 53 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group II Loans - ARM 228 1st Lien

25-May-05

407

9.93%

69,789,507

9.98%

0.25%

0.23%

0.00%

356

6.98%

6.48%

163,638

0.00

25-Apr-05

408

9.95%

69,998,314

10.01%

0.49%

0.63%

0.00%

357

6.99%

6.48%

447,514

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 54 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group II Loans - ARM 327 1st Lien

25-May-05

0.68%

4,966,723

0.71%

0.00%

355

7.07%

6.56%

0.00

25-Apr-05

0.68%

4,969,029

0.71%

0.00%

356

7.07%

6.56%

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 55 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group II Loans - Fixed 2nd Lien

25-May-05

142

3.46%

5,539,094

0.79%

1.39%

1.10%

0.00%

270

10.34%

9.84%

61,866

0.00

25-Apr-05

144

3.51%

5,603,979

0.80%

2.70%

2.87%

0.00%

271

10.35%

9.84%

165,681

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 56 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group III Loans - Fixed 1st Lien

25-May-05

363

8.86%

48,719,897

6.97%

1.09%

1.04%

0.00%

343

7.56%

7.05%

512,738

0.00

25-Apr-05

367

8.95%

49,275,825

7.05%

0.54%

1.23%

0.00%

344

7.55%

7.04%

612,739

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 57 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group III Loans - ARM 228 1st Lien

25-May-05

1,433

34.96%

247,928,752

35.45%

1.65%

0.00%

355

7.21%

6.71%

4,165,759

0.00

25-Apr-05

1,457

35.55%

252,221,206

36.07%

1.22%

1.39%

0.00%

356

7.22%

6.72%

3,567,165

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 58 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group III Loans - ARM 327 1st Lien

25-May-05

211

5.15%

35,585,983

5.09%

1.40%

2.02%

0.00%

354

7.02%

6.51%

734,894

0.00

25-Apr-05

214

5.22%

36,339,735

5.20%

1.38%

1.16%

0.00%

355

7.02%

6.51%

426,291

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 59 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group III Loans - Fixed 2nd Lien

25-May-05

118

2.88%

4,739,468

0.68%

1.67%

1.04%

0.00%

224

10.42%

9.92%

49,930

0.00

25-Apr-05

120

2.93%

4,792,537

0.69%

4.00%

4.88%

0.00%

225

10.43%

9.93%

246,358

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 60 of 61

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE3

ABN AMRO Acct: 722497.2

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation
Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

Current Total
Cumulative

Page 61 of 61

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

BEAR STEARNS ASSET BACKED SECURITIES I TRUST 2005-HE3 8-K