			MASTR Asset Backed Securities Trust 2005-NC1					Contact:
			Mortgage Pass Through Certificates, Series 2005-NC1					Brian Giel
								Account Administrator
								651-495-3844
			STATEMENT TO CERTIFICATEHOLDERS					brian.giel@usbank.com

Distribution Date:

04/25/05

		Original	Beginning				Allocated	Ending
		Certificate	Certificate	Principal	Interest	Total	Realized	Certificate
Class	Cusip	Face Value	Balance	Distribution	Distribution(1)	Distribution	Losses	Balance
A-1	57643LGA8	$350,089,000.00	$330,977,535.17	$12,070,216.84	$894,926.48	$12,965,143.32	$0.00	$318,907,318.33
A-2	57643LGB6	$87,522,000.00	$82,744,147.44	$3,017,545.59	$225,868.54	$3,243,414.13	$0.00	$79,726,601.85
A-3	57643LGC4	$172,908,000.00	$154,071,860.31	$12,863,063.58	$395,365.51	$13,258,429.09	$0.00	$141,208,796.73
A-4	57643LGD2	$128,443,000.00	$128,443,000.00	$0.00	$340,659.38	$340,659.38	$0.00	$128,443,000.00
A-5	57643LGE0	$16,324,000.00	$16,324,000.00	$0.00	$44,981.69	$44,981.69	$0.00	$16,324,000.00
M-1	57643LGF7	$53,424,000.00	$53,424,000.00	$0.00	$153,193.32	$153,193.32	$0.00	$53,424,000.00
M-2	57643LGG5	$41,171,000.00	$41,171,000.00	$0.00	$118,766.90	$118,766.90	$0.00	$41,171,000.00
M-3	57643LGH3	$16,664,000.00	$16,664,000.00	$0.00	$48,788.49	$48,788.49	$0.00	$16,664,000.00
M-4	57643LGJ9	$16,664,000.00	$16,664,000.00	$0.00	$51,801.90	$51,801.90	$0.00	$16,664,000.00
M-5	57643LGK6	$17,154,000.00	$17,154,000.00	$0.00	$53,915.98	$53,915.98	$0.00	$17,154,000.00
M-6	57643LGL4	$13,724,000.00	$13,724,000.00	$0.00	$43,962.55	$43,962.55	$0.00	$13,724,000.00
M-7	57643LGM2	$11,273,000.00	$11,273,000.00	$0.00	$41,256.05	$41,256.05	$0.00	$11,273,000.00
M-8	57643LGN0	$9,803,000.00	$9,803,000.00	$0.00	$36,973.65	$36,973.65	$0.00	$9,803,000.00
M-9	57643LGP5	$11,273,000.00	$11,273,000.00	$0.00	$50,963.35	$50,963.35	$0.00	$11,273,000.00
M-10	57643LGQ3	$3,431,000.00	$3,431,000.00	$0.00	$18,760.90	$18,760.90	$0.00	$3,431,000.00
CE	NA	$30,386,759.32	$30,386,759.32	$0.00	$2,813,296.59	$2,813,296.59	$0.00	$30,386,759.32
P	NA	$100.00	$100.00	$0.00	$560,649.58	$560,649.58	$0.00	$100.00
R	NA	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total		$980,253,859.32	$937,528,402.24	$27,950,826.01	$5,894,130.86	$33,844,956.87	$0.00	$909,577,576.23

AMOUNTS PER $1,000 UNIT						PASS THROUGH RATES
					Ending	Original	Current	Next
	Principal	Interest	Total	Realized	Certificate	Pass-Through	Pass-Through	Pass-Through
Class	Distribution	Distribution	Distribution	Losses	Balance	Interest Rate	Interest Rate	Interest Rate*
A-1	34.47756668	2.55628277	37.03384945	0.00000000	910.93212963	2.79000%	3.14000%	3.31000%
A-2	34.47756667	2.58070588	37.05827255	0.00000000	910.93212964	2.82000%	3.17000%	3.34000%
A-3	74.39253002	2.28656575	76.67909576	0.00000000	816.67011781	2.63000%	2.98000%	3.15000%
A-4	0.00000000	2.65222223	2.65222223	0.00000000	1000.00000000	2.73000%	3.08000%	3.25000%
A-5	0.00000000	2.75555562	2.75555562	0.00000000	1000.00000000	2.85000%	3.20000%	3.37000%
M-1	0.00000000	2.86750000	2.86750000	0.00000000	1000.00000000	2.98000%	3.33000%	3.50000%
M-2	0.00000000	2.88472226	2.88472226	0.00000000	1000.00000000	3.00000%	3.35000%	3.52000%
M-3	0.00000000	2.92777784	2.92777784	0.00000000	1000.00000000	3.05000%	3.40000%	3.57000%
M-4	0.00000000	3.10861138	3.10861138	0.00000000	1000.00000000	3.26000%	3.61000%	3.78000%
M-5	0.00000000	3.14305585	3.14305585	0.00000000	1000.00000000	3.30000%	3.65000%	3.82000%
M-6	0.00000000	3.20333358	3.20333358	0.00000000	1000.00000000	3.37000%	3.72000%	3.89000%
M-7	0.00000000	3.65972235	3.65972235	0.00000000	1000.00000000	3.90000%	4.25000%	4.42000%
M-8	0.00000000	3.77166684	3.77166684	0.00000000	1000.00000000	4.03000%	4.38000%	4.55000%
M-9	0.00000000	4.52083296	4.52083296	0.00000000	1000.00000000	4.90000%	5.25000%	5.42000%
M-10	0.00000000	5.46805596	5.46805596	0.00000000	1000.00000000	6.00000%	6.35000%	6.52000%
CE	0.00000000	92.58297538	92.58297538	0.00000000	1000.00000000	3.50367%	3.60091%
P	0.00000000	5606495.8000	5606495.8000	0.00000000	1000.00000000
R	0.00000000	0.0000000	0.0000000	0.00000000	0.00000000
								* Estimated

(1) - The Class P Certificates do not accrue interest. Amounts appearing as Interest Distributions represent payments of Prepayment Charges.

Page 1

			MASTR Asset Backed Securities Trust 2005-NC1					Contact:
			Mortgage Pass Through Certificates, Series 2005-NC1					Brian Giel
								Account Administrator
								651-495-3844
			STATEMENT TO CERTIFICATEHOLDERS					brian.giel@usbank.com

Distribution Date:

04/25/05

Section 4.02 (ii), (xv) - INTEREST

		Monthly		Remaining	Reduction from the Allocation of:
	Interest	Interest	Interest	Unpaid		Prepayment	Relief Act
	Distribution	Distributable	Shortfall	Interest	Realized	Interest	Interest
Class	Amount	Amount	Amount	Amount	Losses	Shortfalls	Shortfalls
A-1	$894,926.48	$894,926.48	$0.00	$0.00	$0.00	$0.00	$0.00
A-2	$225,868.54	$225,868.54	$0.00	$0.00	$0.00	$0.00	$0.00
A-3	$395,365.51	$395,365.51	$0.00	$0.00	$0.00	$0.00	$0.00
A-4	$340,659.38	$340,659.38	$0.00	$0.00	$0.00	$0.00	$0.00
A-5	$44,981.69	$44,981.69	$0.00	$0.00	$0.00	$0.00	$0.00
M-1	$153,193.32	$153,193.32	$0.00	$0.00	$0.00	$0.00	$0.00
M-2	$118,766.90	$118,766.90	$0.00	$0.00	$0.00	$0.00	$0.00
M-3	$48,788.49	$48,788.49	$0.00	$0.00	$0.00	$0.00	$0.00
M-4	$51,801.90	$51,801.90	$0.00	$0.00	$0.00	$0.00	$0.00
M-5	$53,915.98	$53,915.98	$0.00	$0.00	$0.00	$0.00	$0.00
M-6	$43,962.55	$43,962.55	$0.00	$0.00	$0.00	$0.00	$0.00
M-7	$41,256.05	$41,256.05	$0.00	$0.00	$0.00	$0.00	$0.00
M-8	$36,973.65	$36,973.65	$0.00	$0.00	$0.00	$0.00	$0.00
M-9	$50,963.35	$50,963.35	$0.00	$0.00	$0.00	$0.00	$0.00
M-10	$18,760.90	$18,760.90	$0.00	$0.00	$0.00	$0.00	$0.00
CE	$2,813,296.59	$2,813,296.59	$0.00	$0.00	$0.00	$0.00	$0.00
P	$560,649.58	N/A	N/A	N/A	$0.00	$0.00	$0.00
Total	$5,894,130.86	$5,333,481.28	$0.00	$0.00	$0.00	$0.00	$0.00

Section 4.02 (xvi), (xvii)
PPIS & RAIS	Prepayment Interest Shortfalls not covered by the servicer pursuant to Section 3.24	$0.00
	Relief Act Interest Shortfalls	$0.00

Section 4.02 (xviii)
	Overcollateralized Amount	$30,386,759.32
	Overcollateralization Release Amount	$0.00
	Overcollateralization Deficiency	$0.00
	Overcollateralization Target Amount	$30,386,759.32
	Monthly Excess Cash Flow	$2,813,296.59

Credit Enhancement Percentage

23.996%

Section 4.02 (v), (vi)
POOL	Stated Principal Balance of Mortgage Loans and REO Properties	$909,577,576.23
	Stated Principal Balance of Mortgage Loans	$909,577,576.23
	Number of Mortgage Loans	5,158

Section 4.02 (vi)
WAC & WAM	Weighted Average Remaining Term to Maturity	348
	Weighted Average Mortgage Interest Rate	7.3548%

Section 4.02 (iv)
P&I ADVANCES		Aggregate Advances for the Collection Period						$1,811,165.11

Section 4.02 (vii)
DELINQUENCIES
				Stated Principal	Stated Principal
		Number	Number as %	Balance	Balance as %
	30-59 days delinquent	103	1.99690%	$17,961,463.01	1.97470%
	60-89 days delinquent	37	0.71733%	$7,529,281.29	0.82778%
	90 or more days delinquent	30	0.58162%	$5,578,036.81	0.61326%
	Foreclosures	0	0.00000%	$0.00	0.00000%
	Bankruptcies	6	0.11632%	$560,593.59	0.06163%

Page 2

			MASTR Asset Backed Securities Trust 2005-NC1					Contact:
			Mortgage Pass Through Certificates, Series 2005-NC1					Brian Giel
								Account Administrator
								651-495-3844
			STATEMENT TO CERTIFICATEHOLDERS					brian.giel@usbank.com

Distribution Date:

04/25/05

Section 4.02 (viii)
REO	Number of REO Loans	0
	Number of REO Loans as %	0.00000%
	Stated Principal Balance of REO Properties	$0.00
	Stated Principal Balance of REO Properties as %	0.00000%
	Total Book Value of REO Properties:	$0.00

Section 4.02 (xxi)
	Stepdown Date Occurrence	NO
	Trigger Event Occurrence	NO
	Realized Loss as a Percentage of the Original Pool Balance	0.00000%

Section 4.02 (iii), (xii)
FEES	Trustee Fee	$11,719.11
	Servicing Fee (and any additional Servicer compensation)	$390,513.55
	Credit Risk Manager Fee	$7,812.74
	Extraordinary Trust Fund Expenses	$0.00

Section 4.02 (x), (xxii)
AVAILABLE FUNDS	Principal:
	Scheduled Principal	$686,922.09
	Principal Prepayments (includes curtailments)	$27,263,903.92
	Liquidation Proceeds	$0.00
	Total Principal	$27,950,826.01

Net Interest (net of servicing, trustee & Credit Risk Manager fee)

$5,333,481.28

Available Funds (total principal plus net interest)

$33,284,307.29

Section 4.02 (i)
PREPAYMENT
PENALTIES	Prepayment Charges allocated to Class P	560,649.58
	Servicer Prepayment Charge Payment Amounts allocated to Class P	$0.00

Section 4.02 (xi)
LOSSES	Current Realized Losses	$0.00
	Aggregate Realized Losses since Closing	$0.00

		Subsequent Recoveries						$0.00
		Aggregate Subsequent Recoveries since Closing						$0.00

Section 4.02 (xx)
		Aggregate Loss Severity Percentage						0.00000%

Page 3

			MASTR Asset Backed Securities Trust 2005-NC1					Contact:
			Mortgage Pass Through Certificates, Series 2005-NC1					Brian Giel
								Account Administrator
								651-495-3844
			STATEMENT TO CERTIFICATEHOLDERS					brian.giel@usbank.com

Distribution Date:

04/25/05

Section 4.02 (xxiii) - NET WAC RATE CARRYOVER AMOUNTS

	Net WAC Rate	Amounts	Amounts
Class	Carryover Amount	Paid	Unpaid
A-1	$0.00	$0.00	$0.00
A-2	$0.00	$0.00	$0.00
A-3	$0.00	$0.00	$0.00
A-4	$0.00	$0.00	$0.00
A-5	$0.00	$0.00	$0.00
M-1	$0.00	$0.00	$0.00
M-2	$0.00	$0.00	$0.00
M-3	$0.00	$0.00	$0.00
M-4	$0.00	$0.00	$0.00
M-5	$0.00	$0.00	$0.00
M-6	$0.00	$0.00	$0.00
M-7	$0.00	$0.00	$0.00
M-8	$0.00	$0.00	$0.00
M-9	$0.00	$0.00	$0.00
M-10	$0.00	$0.00	$0.00

Section 4.02 (xxiv) - PAYMENTS MADE UNDER CAP CONTRACTS
	Group 1 Cap Contract	0.00
	Group 2 Cap Contract	0.00
	Mezzanine Contract	0.00

Section 4.02 (xiv) - ENDING BALANCE FACTORS

			Class	Factor
			A-1	0.910932
			A-2	0.910932
			A-3	0.816670
			A-4	1.000000
			A-5	1.000000
			M-1	1.000000
			M-2	1.000000
			M-3	1.000000
			M-4	1.000000
			M-5	1.000000
			M-6	1.000000
			M-7	1.000000
			M-8	1.000000
			M-9	1.000000
			M-10	1.000000
			CE	0.927900
			P	1.000000

Page 4

MASTR ALTERNATIVE LOAN TRUST 2005-NC1 8-K