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~~December 2527, 2005

Lehman ABS Corporation (as Depositor under the Trust Agreement dated as of February 1, 2005, providing for the issuance of Lehman ABS Corporation Home Equity Loan Trust, Series 2005-1)
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-116432
(Commission
File Number)

13-3447441
(IRS Employer
Identification No.)

745 Seventh Avenue, 7th Floor, New York, New York
(Address of principal executive offices)

10019
(Zip Code)

Registrant's telephone number, including area code 212-526-7000

(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 Lehman ABS Corporation Home Equity Loan Trust 2005-1, Home Equity Loan Asset Backed Notes, Series 2005-1, which was made on ~~August~~December 2527, 2005.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(Exhibit No. Description) 99.1 Monthly distribution report pursuant to section 5.03 of the Transfer and Servicing Agreement for the distribution on ~~August~~December 2527, 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 INDENTURE TRUSTEE UNDER THE TRANSFER AND SERVICING AGREEMENT ON BEHALF OF LEHMAN ABS CORPORATION, REGISTRANT

By: /s/ Russell Goldenberg Russell Goldenberg Group Senior Vice President Date: ~~August~~January 303, ~~2005~~2006

Lehman ABS Corporation Home Equity Loan Asset-Backed Notes Series 2005-1 ABN AMRO Acct: 722413.1 Reporting Package Table of Contents Payment Date:Prior Payment:Next Payment:Record Date: 2527-~~Aug~~Dec-~~0525~~0527-~~Aug~~Dec-05 25-~~Jul~~Nov-05 2625-~~Sep~~Jan-0506 2423-~~Aug~~Dec-05 Administrator:Brian Whiteley 312.992.1743brian.whiteley@abnamro.com Analyst:James Macmillan 714.259.6217 james.macmillan@abnamro.com Statement Date: 135 S. LaSalle Street, Suite 1625Chicago, IL 60603USA Statements to CertificateholdersCash Reconciliation Summary HELOCShortfall Summary ReportBond Interest Reconciliation Bond Principal Reconciliation Rating InformationAsset-Backed Facts ~ 15 Month Loan Status Summary Part II Realized Loss Detail Page 2Page 3Page 4Page 5 Page 6 Page 7Page 8 Page 9 Page(s) Information is available for this issue from the following sources Issue Id: Monthly Data FileName: LABS0051 ~~LABS0051_200508_3~~LABS0051_200512_3.ZIP Closing Date: First Payment Date: Rated Final Payment: Date: 11-Mar-0525-Mar-05 25-Sep-34 Parties to The Transaction Depositor: Lehman ABS Corporation Underwriter: Lehman Brothers Inc. Master Servicer: Aurora Loan Services LLC Rating Agency: Moody's Investors Service, Inc. 800.246.5761 LaSalle Factor Line LaSalle Web Site Servicer Web Site www.alservices.com www.etrustee.net Page 1 of 9 2522-~~Aug~~Dec-2005 - 0811:5246 (U123-U129) (c) 2005 LaSalle Bank N.A. Class CUSIP Original Opening Principal Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC: Current Index:Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 79.~~906193~~283009% 34.~~460000~~193750%34.~~641250~~378750% 2527-~~Aug~~Dec-~~0525~~0527-~~Aug~~Dec-05 25-~~Jul~~Nov-05 2625-~~Sep~~Jan-0506 2423-~~Aug~~Dec-05 Lehman ABS Corporation Home Equity Loan Asset-Backed Notes Series 2005-1 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate ~~REMIC~~Bond ~~Classes~~Payments Statement Date: ABN AMRO Acct: 722413.1 ~~700~~512.~~889028979~~227524393 4533.~~190242890~~092190597 0.000000000 ~~655~~479.~~698786089~~135333796 21.~~196897726~~991426782 34.~~8212500000~~5587500000% 0.00 0.00 0.000000000 34.~~6400000000~~3737500000% 0.000000000 525170CG9 A 259,500,000.00 118,~~726~~587,~~868~~423.0346 0.00 ~~170~~124,~~153~~335,~~834~~619.9912 ~~570~~516,~~094~~775.9625 ~~181~~132,~~880~~923,~~703~~042.0258 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 N/A 0.00 0.00 0.000000000 34.~~6400000000~~3737500000% 0.000000000 9ABSU1290 L 0.00 0.00 0.00 0.00 0.00 0.00 1000.000000000 0.000000000 0.000000000 1000.000000000 56.~~562778440~~394443121 67.~~6412500000~~3787500000% 0.00 0.00 0.000000000 67.~~4600000000~~1937500000% 0.000000000 525170CC8/U52370AA8 M-1 3,358,000.00 0.00 0.00 3,358,000.00 1821,~~679~~472.8154 3,358,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 56.~~562777598~~394444804 67.~~6412500000~~3787500000% 0.00 0.00 0.000000000 67.~~4600000000~~1937500000% 0.000000000 525170CD6/U52370AB6 M-2 3,089,000.00 0.00 0.00 3,089,000.00 1719,~~183~~752.4244 3,089,000.00 ~~711~~530.~~056618752~~709246400 0.000000000 0.000000000 ~~667~~499.~~985864429~~203359301 10.~~747045542~~251923169 0.00 ~~469~~67,~~315~~675.9815 10.~~747045542~~251923169 N/A 0.000000000 N 525170CE4/525170CF1 B 268,634,084.59 0.00 0.00 ~~179~~134,~~443~~103,~~771~~037.2145 ~~469~~67,~~315~~675.9815 ~~191~~142,~~014~~566,~~043~~592.8759 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 9ABSU3247 R 0.00 0.00 0.00 0.00 0.00 0.00 Total P&I Payment 0.00 ~~469~~67,~~315~~675.9815 265,947,000.00 ~~188~~139,~~327~~370,~~703~~042.0258 129,~~802~~213,~~142~~098.2084 Total ~~176~~130,~~600~~782,~~834~~619.9912 118,~~726~~587,~~868~~423.0346 0.00 1625,~~075,274~~675.1738 2522-~~Aug~~Dec-2005 - 0811:5246 (U123-U129) (c) 2005 LaSalle Bank N.A. Page 2 of 9 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 Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2527-~~Aug~~Dec-~~0525~~0527-~~Aug~~Dec-05 25-~~Jul~~Nov-05 2625-~~Sep~~Jan-0506 2423-~~Aug~~Dec-05 Home Equity Loan Asset-Backed Notes Series 2005-1 ABN AMRO Acct: 722413.1 Statement Date: Cash Reconciliation Summary Current Scheduled Interest Interest Summary Deferred Interest (-)Delinquent Interest (-) ~~24,598.92~~ 0.000.00 Less Other Interest Adjustment (-) 0.00 ~~Total~~Subtotal 1,~~258~~044,~~494~~193.8559 Unscheduled Interest: Prepayment Penalties (+) 0.00 Other Interest Proceeds (+) 0.00 ~~Total~~Subtotal 0.00 Fees & Expenses Paid By/To Servicer Fee Paid To Servicer (-) Fee Strips Paid by Servicer (- )Recoup of Prior Advances (-)Misc. Fees & Expenses (-) Total Unscheduled Fees & Expenses ~~Total~~Subtotal ~~Interest Due Trust~~ Less Fees & Expenses Paid By/To TrustTrustee Fee (-)Fee Strips (-)Misc. Fees (-) ~~Total~~Subtotal Total Interest Due Certs Principal Summary Scheduled Principal: Scheduled Principal Delinquent Scheduled Principal Scheduled Principal Unscheduled Principal: Curtailments Prepayments in Full Liquidation Proceeds Repurchase Proceeds Other Principal Proceeds Total Unscheduled Principal Remittance PrincipalRemittance P&I Due TrustRemittance P&I Due Certs Pool Balance Summary Beginning Pool Scheduled Principal Unscheduled Principal Deferred Interest Liquidations RepurchasesEnding Pool Balance Count Events/Cycles Managed Amortization Period in Effect Overcollateralization Summary Factual Information 0.000.000.00 0.00 1,~~258~~044,~~494~~193.8559 0.000.000.00 2620,~~625~~086.3115 0.00 ~~116~~82,~~050~~255.2885 ~~116~~82,~~050~~255.2885 ) (~~142~~170,~~782~~207.1623 118,~~597~~276,~~004~~942.5478 0.000.000.00 118,~~454~~106,~~222~~735.~~3811~~558,~~570~~188,~~272~~991.6640 129,~~828~~233,~~767~~184.5199 ~~191~~142,~~014~~566,~~043~~592.8759 3,~~914~~062 ~~116~~82,~~050~~255.2885 118,~~338~~381,~~172~~299.1029 ~~216~~170 0.00 0.00 0 0.00 0 ~~179~~134,~~443~~103,~~771~~037.2145 32,~~698~~892 0.00 1,~~231~~024,~~869~~107.5444 Interest Not Advanced (-) 0) (3,494.0003 1,~~233~~047,~~895~~687.9362 Overcollateralization AmountOvercollateralization Deficit Additional Balances Overcollateralization Release Amt Add'l Balance Cont'd Amt Rapid Amortization Period in Effect Rapid Amortization Event Master Servicer TerminationEvent of Servicer Termination Specified Overcollateralization Amt Add'l Balances Cum Losses (% Orig Pool)Cum Losses (% Cur Pool)Cum Losses 12 Mo. Rolling Avg (% Orig Pool)Six-Month Rolling Delinquency Rate3 Largest Outstanding Principal Bal. Insurance Premium (-) Insurance Premium (-) Insurer Default ) (2620,~~625~~086.3115 0.000.00 No No NoNo Yes No 23,~~842~~320,~~936~~418.2233 0.000.00 23,~~842~~320,~~936~~418.2233 % 0.0010 % 0.0020 % 0.00 % 0.3874 1,~~349~~300,~~901~~000.3700 129,~~802~~213,~~142~~098.2084 Draw on Insurance Policy 0.00 Draws on Line of Credit Borrower draws 1,~~940~~128,~~238~~105.4499 0 Page 3 of 9 2522-~~Aug~~Dec-2005 - 0811:5246 (U123-U129) (c) 2005 LaSalle Bank N.A. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2527-~~Aug~~Dec-~~0525~~0527-~~Aug~~Dec-05 25-~~Jul~~Nov-05 2625-~~Sep~~Jan-0506 2423-~~Aug~~Dec-05 Home Equity Loan Asset-Backed Notes Series 2005-1 ABN AMRO Acct: 722413.1 Interest Adjustments Summary ~~Statement Date~~StatementDate: 0.00 0.00 0.00 0.00 Special Servicing Fees Workout Fees Liquidation Fees Legal Fees 0.00 0.00 Misc. Fees & Expenses Paid by/to Servicer Interest Paid to Servicer on Outstanding Advances 0.00 0.00 ASER Interest Advance Reduction Interest Not Advanced (Current Period) Recoup of Prior Advances by Servicer 03,494.0003 0.00 Servicing Fees Paid Servicer on Loans Not Advanced Misc. Fees & Expenses Paid by Trust 0.00 0.00 0.00 Shortfall Due to Rate Modification Total Shortfall Allocated to the Bonds Total Interest Adjustment to the Bonds 03,494.0003 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 0.00 0.00 Total Excess Allocated to the Bonds 0) (3,494.0003 0) (3,494.0003 Aggregate Interest Adjustment Allocated to the Bonds 0.00 0.00 0.00 0.00 Prepayment Interest Excess Due the Bonds 0.00 ARD Excess Interest 0.00 0.00 0.00 Net Prepayment Int. Shortfalls Allocated to the Bonds Other Interest Loss Interest Income 0.00 Page 4 of 9 2522-~~Aug~~Dec-2005 - 0811:5246 (U123-U129) (c) 2005 LaSalle Bank N.A. Lehman ABS Corporation Class Accrued Payment Date:Prior Payment:Next Payment:Record Date: 2527-~~Aug~~Dec-~~0525~~0527-~~Aug~~Dec-05 25-~~Jul~~Nov-05 2625-~~Sep~~Jan-0506 2423-~~Aug~~Dec-05 Home Equity Loan Asset-Backed Notes Series 2005-1 ABN AMRO Acct: 722413.1 Bond Interest Reconciliation Prior Other Additions Interest Losses Current Cumulative Accrual Risk Carry- forward Amt Interest Interest Payment Amount Interest Certificate Interest Losses Proceeds Risk Carry- Shortfalls Certificate Method Days Basis Remaining Statement Date: Distributable Applied Realized Remaining Int. Carry- forward Amt Extra Principal Agreement From YM Deposited Amount Prior In Carry- Shortfall 0.00 0.00 0.00 A 3132 ~~570~~516,~~094~~775.9625 0.00 ~~570~~516,~~094~~775.9625 ~~570~~516,~~094~~775.9625 Act/360 0.00 0.00 0.00 0.00 0.00 0.00 ~~469~~67,~~315~~675.9815 0.00 0.00 B 3132 0.00 0.00 ~~469~~67,~~315~~675.9815 ~~469~~67,~~315~~675.9815 Act/360 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 L 3132 0.00 0.00 0.00 0.00 Act/360 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M-1 3132 1821,~~679~~472.8154 0.00 1821,~~679~~472.8154 1821,~~679~~472.8154 Act/360 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M-2 3132 1719,~~183~~752.4244 0.00 1719,~~183~~752.4244 1719,~~183~~752.4244 Act/360 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ~~469~~67,~~315~~675.9815 0.00 ~~605~~558,~~958~~000.1923 1625,~~075,274~~675.1738 1625,~~075,274~~675.1738 0.00 0.00 0.00 0.00 0.00 0.00 2522-~~Aug~~Dec-2005 - 0811:5246 (U123-U129) (c) 2005 LaSalle Bank N.A. Page 5 of 9 (1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2527-~~Aug~~Dec-~~0525~~0527-~~Aug~~Dec-05 25-~~Jul~~Nov-05 2625-~~Sep~~Jan-0506 2423-~~Aug~~Dec-05 Home Equity Loan Asset-Backed Notes Series 2005-1 ABN AMRO Acct: 722413.1 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 3.001.00 A 2.42% 34.6593% 9/25/2034 ~~170~~124,~~153~~335,~~834~~619.9912 0.00 0.00 ~~181~~132,~~880~~923,~~703~~042.0258 259,500,000.00 ~~116~~82,~~050~~255.2885 0.00 0.00 ~~156~~398,~~595~~432.3706 118,~~454~~106,~~222~~735.3855 L NA NA 9/25/2034 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M-1 1.16% 12.7536% 9/25/2034 3,358,000.00 0.00 0.00 3,358,000.00 3,358,000.00 0.00 0.00 0.00 0.00 0.00 M-2 0.00% 0.00% 9/25/2034 3,089,000.00 0.00 0.00 3,089,000.00 3,089,000.00 0.00 0.00 0.00 0.00 0.00 B NA NA 9/25/2034 ~~179~~134,~~443~~103,~~771~~037.2145 0.00 0.00 ~~191~~142,~~014~~566,~~043~~592.8759 268,634,084.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ~~116~~82,~~050~~255.2885 0.00 118,~~454~~106,~~222~~735.3855 ~~156~~398,~~595~~432.3706 265,947,000.00 ~~176~~130,~~600~~782,~~834~~619.9912 ~~188~~139,~~327~~370,~~703~~042.0258 2522-~~Aug~~Dec-2005 - 0811:5246 (U123-U129) (c) 2005 LaSalle Bank N.A. Page 6 of 9 (1) Extra Principal Amounts: the lessor of (i) the excess, if any, of the overcollateralization Target Amount over the Overcollateralization Amount. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2527-~~Aug~~Dec-~~0525~~0527-~~Aug~~Dec-05 25-~~Jul~~Nov-05 2625-~~Sep~~Jan-0506 2423-~~Aug~~Dec-05 Home Equity Loan Asset-Backed Notes Series 2005-1 ABN AMRO Acct: 722413.1 Rating Information Class CUSIP Fitch Moody's S&P Fitch Moody's S&P Original Ratings Rating Change/Change Date(1) Statement Date: A 525170CG9 AAA Aaa AAA L 9ABSU1290 NR NR NR M-1 525170CC8 BBB- Ba1 NR M-2 525170CD6 BB+ Ba3 NR B 525170CE4 NR NR NR Page 7 of 9 2522-~~Aug~~Dec-2005 - 0811:5246 (U123-U129) (c) 2005 LaSalle Bank N.A. 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 notbeing updated on this report, LaSalle recommends that investors obtain current rating information directly from the rating agency. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2527-~~Aug~~Dec-~~0525~~0527-~~Aug~~Dec-05 25-~~Jul~~Nov-05 2625-~~Sep~~Jan-0506 2423-~~Aug~~Dec-05 Home Equity Loan Asset-Backed Notes Series 2005-1 ABN AMRO Acct: 722413.1 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date Statement Date: 30 - 59 60 - 89 90 - 119 120 - 149 150 - 179 180 - 269 270+ Bankruptcy Amount Foreclosure Amount REO Amount % 0.92 35 % 0.17 % 0.04 % 0.07 % 0.11 % 0.50 % 0.03 % 0.00 % 0.03 % 0.06 8 3 3 3 7 0 0 1 1 (%) Balances # of Loans 1,228,882.79 223,361.47 75,999.90 34,000.00 0.00 34,000.00 670,530.53 142,475.57 87,260.05 53,699.84 27-Dec-05 % 0.85 32 % 0.14 % 0.06 % 0.19 % 0.21 % 0.34 % 0.06 % 0.00 % 0.02 % 0.05 7 3 8 7 6 1 0 1 1 (%) Balances # of Loans 1,213,929.92 194,060.07 75,999.90 34,000.00 0.00 85,394.85 481,504.22 302,488.97 268,641.76 87,260.05 25-Nov-05 % 0.42 16 % 0.20 % 0.18 % 0.22 % 0.14 % 0.24 % 0.03 % 0.00 % 0.02 % 0.05 8 8 8 2 5 1 0 1 1 (%) Balances # of Loans 646,686.20 304,076.30 75,999.90 34,000.00 0.00 51,394.85 366,910.99 214,593.23 333,369.21 268,641.76 25-Oct-05 % 0.73 22 % 0.21 % 0.21 % 0.13 % 0.23 % 0.06 % 0.00 % 0.00 % 0.02 % 0.05 11 9 2 7 2 0 0 1 1 (%) Balances # of Loans 1,210,613.05 352,004.51 75,999.90 34,000.00 0.00 0.00 99,494.85 377,567.60 214,593.23 348,972.36 26-Sep-05 % 0.58 28 % 0.24 % 0.13 % 0.22 % 0.01 % 0.1008 % 0.00 % 0.00 % 0.02 % 0.04 11 3 7 1 43 0 0 1 1 (%) Balances # of Loans 1,035,628.64 434,618.22 75,999.90 34,000.00 0.00 0.00 ~~173~~139,994.85 10,452.18 394,284.74 239,793.23 25-Aug-05 % 0.63 25 % 0.29 % 0.21 % 0.03 % 0.03 % 0.05 % 0.00 % 0.00 % 0.02 % 0.04 6 7 3 1 2 0 0 1 1 (%) Balances # of Loans 1,198,098.32 563,163.95 75,999.90 34,000.00 0.00 0.00 91,894.85 48,100.00 51,545.63 394,284.74 25-Jul-05 % 0.73 27 % 0.39 % 0.02 % 0.06 % 0.05 % 0.00 % 0.00 % 0.00 % 0.02 % 0.04 9 2 3 3 0 0 0 1 1 (%) Balances # of Loans 1,511,722.62 819,226.62 75,999.90 34,000.00 0.00 0.00 0.00 102,347.03 116,098.89 41,093.45 27-Jun-05 % 0.93 36 % 0.05 % 0.12 % 0.05 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.03 4 6 3 0 0 0 0 0 1 (%) Balances # of Loans 2,064,724.74 116,058.07 75,999.90 0.00 0.00 0.00 0.00 0.00 102,347.03 270,345.19 25-May-05 % 0.7000 360 % 0.1400 % 0.0400 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.03 70 30 0 0 0 0 0 0 1 (%) Balances # of Loans ~~1,676,911~~0.1600 ~~339,492~~0.7900 71,327.67 0.00 0.00 0.00 0.00 0.00 0.00 ~~102,347~~0.0300 25-Apr-05 % 0.8200 340 % 0.0400 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 50 0 0 0 0 0 0 0 0 (%) Balances # of Loans ~~2,106,557~~0.9700 ~~113,448~~0.8500 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 25-Mar-05 Page 8 of 9 2522-~~Aug~~Dec-2005 - 0811:5246 (U123-U129) (c) 2005 LaSalle Bank N.A. (1) Note: Bankruptcy, REO and Foreclosure Totals are Included in the Appropriate Delinquency Aging Category Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2527-~~Aug~~Dec-~~0525~~0527-~~Aug~~Dec-05 25-~~Jul~~Nov-05 2625-~~Sep~~Jan-0506 2423-~~Aug~~Dec-05 Home Equity Loan Asset-Backed Notes Series 2005-1 ABN AMRO Acct: 722413.1 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: 200512 26,600.00 0.00 0.00 0.00 26,600.00 0.00% 0.00% Not Avail. 133,000.00 112380407 200512 7,221.55 0.00 0.00 0.00 7,211.55 0.00% 0.00% Not Avail. 75,000.00 112380514 200512 20,500.00 0.00 0.00 0.00 20,500.00 0.00% 0.00% Not Avail. 205,000.00 112382544 200512 12,000.00 0.00 0.00 0.00 12,000.00 0.00% 0.00% Not Avail. 120,400.00 112383427 200512 51,394.85 0.00 0.00 0.00 51,394.85 0.00% 0.00% Not Avail. 316,000.00 112420971 200512 35,000.00 0.00 0.00 0.00 35,000.00 0.00% 0.00% Not Avail. 300,000.00 112442447 200512 22,820.00 0.00 0.00 0.00 22,820.00 0.00% 0.00% Not Avail. 99,000.00 112443346 200512 24,664.21 0.00 0.00 0.00 24,664.21 0.00% 0.00% Not Avail. 210,000.00 112451497 200512 22,476.90 0.00 0.00 0.00 22,476.90 0.00% 0.00% Not Avail. 226,000.00 112451810 200512 26,659.26 0.00 0.00 0.00 26,659.26 0.00% 0.00% Not Avail. 180,000.00 112455498 200512 25,477.73 0.00 0.00 0.00 25,477.73 0.00% 0.00% Not Avail. 255,000.00 112455860 200510 48,100.00 0.00 0.00 0.00 48,100.00 0.00% 0.00% Not Avail. 321,000.00 112434949 200509 22,673.75 0.00 0.00 0.00 22,673.75 0.00% 0.00% Not Avail. 151,500.00 112382247 200509 40,500.00 0.00 0.00 0.00 40,500.00 0.00% 0.00% Not Avail. 405,000.00 112424361 386,088.25 0.00 0.00 0.00 386,078.25 274,814.50 274,804.50 0.00 0.00 0.00 Current Total Cumulative 2522-~~Aug~~Dec-2005 - 0811:5246 (U123-U129) (c) 2005 LaSalle Bank N.A. Page 9 of 9 * Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

Filing Compare · Lehman ABS Corp. Home Equity Loan Trust 2005-1