UNITED STATES SECURITIES AND EXCHANGE COMMISSION

~~SECURITIES~~Washington, ~~AND~~D.C. ~~EXCHANGE COMMISSION~~20549

~~WASHINGTON,~~Form ~~D.C. 20549~~8-K

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

~~SECURITIES~~Securities ~~EXCHANGE~~Exchange ~~ACT~~Act OFof 1934

~~DATE~~Date OFof ~~REPORT~~Report (~~DATE~~Date OFof ~~EARLIEST~~earliest ~~EVENT~~event ~~REPORTED~~reported): ~~MAY~~June 128, 2005

PARK PLACE SECURITIES, INC.

(as depositor under the Pooling and Servicing Agreement,

dated as of ~~May~~June 1, 2005, providing for the issuance of

~~ASSET~~Asset-~~BACKED~~Backed ~~PASS~~Pass-~~THROUGH~~Through ~~CERTIFICATES~~Certificates, ~~SERIES~~Series 2005-~~WCW1~~WCW2)

Park Place Securities, Inc.

(~~EXACT~~Exact ~~NAME~~name OFof ~~REGISTRANT~~registrant ASas ~~SPECIFIED~~specified INin ~~ITS~~its ~~CHARTER~~charter)

Delaware	333-121784	34-1993512
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification Number)

1100 Town & Country Road, Suite 1100

1100 Town & Country Road, Suite 1100
Orange, California	92868
(Address of Principal Executive Offices)	(Zip Code)

Orange, California		92868
(Address of Principal Executive Offices)	(Zip Code)

Registrant's telephone number, including area code: (714) 564-0660

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):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.

Other Events

Description of the Certificates and the Mortgage Pool

Park Place Securities, Inc. (the “Registrant”) plans a series of certificates, entitled Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-~~WCW1~~WCW2 (the “Certificates”), to be issued pursuant to a pooling and servicing agreement, dated as of ~~May~~June 1, 2005, among the Registrant as depositor, Countrywide Home Loans Servicing ~~LPas~~LP as master servicer, the Federal National Mortgage Association as guarantor of the Group I Certificates and Wells Fargo Bank, N.A. as ~~trustee~~ ~~and as swap administrator~~trustee. The Certificates designated as the Series 2005-~~WCW1~~WCW2 Certificates will represent in the aggregate the entire beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a segregated pool (the “Mortgage Pool”) of conventional, one- to four-family, first and second lien fixed-rate and adjustable-rate residential mortgage loans having original terms to maturity up to 30 years (the “Mortgage Loans”).

~~Collateral~~Computational ~~Term Sheets~~Materials

~~Morgan~~Citigroup ~~Stanley~~Global &Markets CoInc. ~~Incorporated~~ (the “Underwriter”) has advised the Registrant that it has furnished to certain prospective purchasers of Certificates certain materials, herein referred to as “~~Collateral~~Computational ~~Term Sheets”~~Materials,” in written form, which ~~Collateral~~Computational ~~Term~~Materials ~~Sheets~~ are in the nature of data tables and term sheet information relating to the Mortgage Loans or other assets of the Trust Fund, the structure of the Certificates and terms of certain classes of Certificates, and the hypothetical characteristics and hypothetical performance of certain classes of Certificates under certain assumptions and scenarios.

The ~~Collateral~~Computational ~~Term~~Materials ~~Sheets~~ have been provided by the Underwriter. The information in the ~~Collateral~~Computational ~~Term~~Materials ~~Sheets~~ is preliminary and will be superseded by athe ~~prospectus~~Prospectus ~~supplement~~Supplement relating to the Certificates and by any other information subsequently filed with the Commission.

The ~~Collateral~~Computational ~~Term~~Materials ~~Sheets~~ were prepared by the ~~Underwriter~~Depositor at the request of certain prospective investors. The ~~Collateral~~Computational ~~Term~~Materials ~~Sheets~~ may be based on information that differs from the information set forth in the ~~prospectus~~Prospectus ~~supplement~~Supplement.

Section 9 - Financial Statements and Exhibits

Item 9.01.	Financial Statements and Exhibits
(a)	~~(a)~~	Financial Statements.
		Not applicable.
(b)		Pro Forma Financial Information.
		Not applicable.
(c)		Exhibits.

~~Not~~Exhibit ~~applicable~~No. Item 601(a) of Regulation S K Exhibit No. Description

1 99 Computational Materials (bas defined in Item 5) ~~Pro~~that ~~Forma~~have ~~Financial~~been ~~Information~~provided by Citigroup Global Markets Inc. to certain prospective purchasers of Park Place Mortgage Securities Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW2.

Not applicable.

Exhibit No.	Item 601(a) of Regulation S K Exhibit No.	Description
1	99	Collateral Term Sheets (as defined in Item 5) that have been provided by Morgan Stanley & Co Incorporated to certain prospective purchasers of Park Place Mortgage Securities Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW1.

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: June 228, 2005

PARK PLACE SECURITIES, INC. By: /s/ John P. Grazer Name: John P. Grazer Title: CFO

~~By:~~Index ~~/s/~~to ~~John P. Grazer Name: John P. Grazer Title: CFO~~Exhibits

INDEX TO EXHIBITS

Exhibit No.	Item 601(a) of Regulation S K Exhibit No.	Description	Sequentially Numbered Page
1	99	Computational Materials	Filed Manually

Exhibit No.	Item 601(a) of Regulation S K Exhibit No.	Description	Sequentially Numbered Page
1	99	Collateral Terms Sheets	Filed Manually

EXHIBIT 99.1

[FILED MANUALLY]

Filing Compare · Park Place Securities, Inc.