	Asset Backed Securities Corporation Home Equity Loan Trust		Contact:
	2005-HE1		Susan Burdick
	Asset Backed Pass-Through Certificates, Series 2005-HE1		Account Administrator
			651-495-3840
	STATEMENT TO CERTIFICATEHOLDERS		susan.burdick@usbank.com
	Section 4.02 of the PSA, dated Feburary 1, 2005
Distribution Date:	April 25, 2005	**REVISED***

		Original	Beginning				Interest		Ending
		Certificate	Certificate	Principal	Interest	Realized Loss	Shortfall	Total	Certificate
Class	Cusip	Face Value	Balance (1)	Distribution	Distribution (2)	of Principal	Amount	Distribution	Balance (1)
A-1	04541GPC0	$392,600,000.00	$385,685,066.26	$8,648,833.00	$1,047,001.04	N/A	$0.00	$9,695,834.04	$377,036,233.26
A-2	04541GPD8	$98,200,000.00	$96,470,385.90	$2,163,309.73	$264,998.79	N/A	$0.00	$2,428,308.52	$94,307,076.17
A-3	04541GPE6	$182,160,000.00	$175,596,432.67	$3,521,076.06	$474,793.24	N/A	$0.00	$3,995,869.30	$172,075,356.61
A-4	04541GPF3	$102,000,000.00	$93,720,522.47	$4,441,589.26	$242,111.35	N/A	$0.00	$4,683,700.61	$89,278,933.21
A-5	04541GPG1	$112,400,000.00	$112,400,000.00	$0.00	$302,949.22	N/A	$0.00	$302,949.22	$112,400,000.00
A-6	04541GPX4	$15,382,000.00	$15,382,000.00	$0.00	$42,650.87	N/A	$0.00	$42,650.87	$15,382,000.00
M-1	04541GPH9	$46,163,000.00	$46,163,000.00	$0.00	$133,167.43	$0.00	$0.00	$133,167.43	$46,163,000.00
M-2	04541GPJ5	$35,335,000.00	$35,335,000.00	$0.00	$102,844.48	$0.00	$0.00	$102,844.48	$35,335,000.00
M-3	04541GPK2	$21,657,000.00	$21,657,000.00	$0.00	$63,966.36	$0.00	$0.00	$63,966.36	$21,657,000.00
M-4	04541GPL0	$19,377,000.00	$19,377,000.00	$0.00	$61,737.28	$0.00	$0.00	$61,737.28	$19,377,000.00
M-5	04541GPM8	$18,237,000.00	$18,237,000.00	$0.00	$58,890.31	$0.00	$0.00	$58,890.31	$18,237,000.00
M-6	04541GPN6	$17,667,000.00	$17,667,000.00	$0.00	$58,571.01	$0.00	$0.00	$58,571.01	$17,667,000.00
M-7	04541GPP1	$14,248,000.00	$14,248,000.00	$0.00	$53,984.09	$0.00	$0.00	$53,984.09	$14,248,000.00
M-8	04541GPQ9	$12,538,000.00	$12,538,000.00	$0.00	$48,584.75	$0.00	$0.00	$48,584.75	$12,538,000.00
M-9	04541GPR7	$11,968,000.00	$11,968,000.00	$0.00	$53,590.04	$0.00	$0.00	$53,590.04	$11,968,000.00
M-10	04541GPS5	$9,119,000.00	$9,119,000.00	$0.00	$45,936.96	$0.00	$0.00	$45,936.96	$9,119,000.00
M-11	04541GPT3	$13,678,000.00	$13,678,000.00	$0.00	$68,902.93	$0.00	$0.00	$68,902.93	$13,678,000.00
P	04541GPV8	$100.00	$100.00	$0.00	$256,216.73	$0.00	$0.00	$256,216.73	$100.00
X	04541GPU0	$0.00	$17,096,553.75	$0.00	$2,904,957.16	N/A	$0.00	$2,904,957.16	$17,097,384.81
R	04541GPW6	$0.00	$0.00	$0.00	$0.00	N/A	$0.00	$0.00	$0.00
Total		$1,122,729,100.00	$1,099,241,507.30	$18,774,808.05	$6,285,854.04	$0.00	$0.00	$25,060,662.09	$1,080,466,699.25
*Strip Amount for this period		$16,378.38

			Interest		Ending		Current	Next*
	Principal	Interest	Carry-forward	Total	Certificate		Pass-Through	Pass-Through
Class	Distribution	Distribution	Amount	Distribution	Balance	Class	Interest Rate	Interest Rate
A-1	$22.02963067	$2.66683912	$0.00000000	$24.69646979	$960.35719119	A-1	3.15250%	3.32250%
A-2	$22.02963065	$2.69856202	$0.00000000	$24.72819267	$960.35719114	A-2	3.19000%	3.36000%
A-3	$19.32957872	$2.60646267	$0.00000000	$21.93604139	$944.63854090	A-3	3.14000%	3.31000%
A-4	$43.54499275	$2.37364069	$0.00000000	$45.91863343	$875.28365892	A-4	3.00000%	3.17000%
A-5	$0.00000000	$2.69527776	$0.00000000	$2.69527776	$1,000.00000000	A-5	3.13000%	3.30000%
A-6	$0.00000000	$2.77277792	$0.00000000	$2.77277792	$1,000.00000000	A-6	3.22000%	3.39000%
M-1	$0.00000000	$2.88472218	$0.00000000	$2.88472218	$1,000.00000000	M-1	3.35000%	3.52000%
M-2	$0.00000000	$2.91055554	$0.00000000	$2.91055554	$1,000.00000000	M-2	3.38000%	3.55000%
M-3	$0.00000000	$2.95361130	$0.00000000	$2.95361130	$1,000.00000000	M-3	3.43000%	3.60000%
M-4	$0.00000000	$3.18611137	$0.00000000	$3.18611137	$1,000.00000000	M-4	3.70000%	3.87000%
M-5	$0.00000000	$3.22916653	$0.00000000	$3.22916653	$1,000.00000000	M-5	3.75000%	3.92000%
M-6	$0.00000000	$3.31527764	$0.00000000	$3.31527764	$1,000.00000000	M-6	3.85000%	4.02000%
M-7	$0.00000000	$3.78888897	$0.00000000	$3.78888897	$1,000.00000000	M-7	4.40000%	4.57000%
M-8	$0.00000000	$3.87500000	$0.00000000	$3.87500000	$1,000.00000000	M-8	4.50000%	4.67000%
M-9	$0.00000000	$4.47777741	$0.00000000	$4.47777741	$1,000.00000000	M-9	5.20000%	5.37000%
M-10	$0.00000000	$5.03749973	$0.00000000	$5.03749973	$1,000.00000000	M-10	5.85000%	6.02000%
M-11	$0.00000000	$5.03750037	$0.00000000	$5.03750037	$1,000.00000000	M-11	5.85000%	6.02000%
P	$0.00000000	$2,562,167.30000000	$0.00000000	$2,562,167.30000000	$1,000.00000000	P	N/A	N/A
X	$0.00000000	$0.00000000	$0.00000000	$0.00000000	$0.00000000	X	3.12266%	3.12266%
R	$0.00000000	$0.00000000	$0.00000000	$0.00000000	$0.00000000	R	0.00000%	0.00000%
						1 Mo LIBOR	2.85000%	3.02000%
								*estimated

Page 1

	Asset Backed Securities Corporation Home Equity Loan Trust		Contact:
	2005-HE1		Susan Burdick
	Asset Backed Pass-Through Certificates, Series 2005-HE1		Account Administrator
			651-495-3840
	STATEMENT TO CERTIFICATEHOLDERS		susan.burdick@usbank.com
	Section 4.02 of the PSA, dated Feburary 1, 2005
Distribution Date:	April 25, 2005	**REVISED***

		GROUP 1	GROUP 2	TOTAL	NEW CENTURY	WMC	TOTAL
(i)	Principal Distributions:
	Beginning Balance	611,070,403.86	505,267,657.23	1,116,338,061.09	557,899,173.22	558,438,887.87	1,116,338,061.09
	Scheduled Principal	490,607.51	279,044.19	769,651.70	415,073.79	354,577.91	769,651.70
	Prepayments (Includes Curtailments)	10,321,056.65	7,683,268.68	18,004,325.33	10,879,885.37	7,124,439.96	18,004,325.33
	Net Liquidation Proceeds	0.00	0.00	0.00	0.00	0.00	0.00
	Loan Principal Purchase Prices	0.00	0.00	0.00	0.00	0.00	0.00
	Total Principal Remittance	10,811,664.16	7,962,312.87	18,773,977.03	11,294,959.16	7,479,017.87	18,773,977.03
	Net Realized Losses	0.00	0.00	0.00	0.00	0.00	0.00
	Ending Balance	600,258,739.70	497,305,344.36	1,097,564,084.06	546,604,214.06	550,959,870.00	1,097,564,084.06
	Ending Count	3,209	2,685	5,894	2,916	2,978	5,894

(ii)

Aggregate Ending Collateral Balance

600,258,739.70

497,305,344.36

1,097,564,084.06

546,604,214.06

550,959,870.00

1,097,564,084.06

(iii)

Ending Overcollateralization Amount

17,097,384.81

(iv)

Number of Liquidated Loans

0.00

(v)	Interest Distributions:	GROUP 1	GROUP 2	TOTAL	NEW CENTURY	WMC	TOTAL
	Scheduled Interest - Net of Servicing Fee	3,249,165.60	2,797,679.52	6,046,845.12	3,030,015.79	3,016,829.33	6,046,845.12
	Less Relief Act Interest Shortfall	0.00	0.00	0.00	0.00	0	0.00
	Less Net Prepayment Interest Shortfall	0.00	0.00	0.00	0.00	0.00	0.00
		3,249,165.60	2,797,679.52	6,046,845.12	3,030,015.79	3,016,829.33	6,046,845.12

(vi)	Servicing Fee:
	GROUP 1	254,612.76
	GROUP 2	210,528.37
	TOTAL	465,141.13

	Advances	GROUP 1	GROUP 2	TOTAL	NEW CENTURY	WMC	TOTAL
(vii)	Current Aggregate Advances as of determination date	873,127.00	836,388.59	1,709,515.59	779,538.13	929,977.46	1,709,515.59
	Outstanding Aggregate Advances as of end of prior calendar month	1,058,370.18	895,253.55	1,953,623.73	876,256.64	1,077,367.09	1,953,623.73

Page 2

	Asset Backed Securities Corporation Home Equity Loan Trust		Contact:
	2005-HE1		Susan Burdick
	Asset Backed Pass-Through Certificates, Series 2005-HE1		Account Administrator
			651-495-3840
	STATEMENT TO CERTIFICATEHOLDERS		susan.burdick@usbank.com
	Section 4.02 of the PSA, dated Feburary 1, 2005
Distribution Date:	April 25, 2005	**REVISED***

(ix)

Delinquency Information

	30-59 days delinquent		60-89 days delinquent		90 or more days delinquent
	Count	Balance	Count	Balance	Count	Balance
Group 1	131	24,739,871.03	5	1,037,418.16	0	0.00
Group 2	120	21,566,480.85	4	917,521.23	0	0.00
Total	251	46,306,351.88	9	1,954,939.39	0	0.00
New Century	110	17,168,134.76	6	950,583.09	0	0.00
WMC	141	29,138,217.12	3	1,004,356.30	0	0.00
Total	251	46,306,351.88	9	1,954,939.39	0	0.00
*Note: The above statistics do not include loans in foreclosure or bankruptcy proceedings or REO properties.

	Outstanding Loans		Foreclosure		Bankruptcy		REO
	Count	Balance	Count	Balance	Count	Balance	Count	Balance	Market Value
Group 1	3,209	600,258,739.70	0	0.00	4	454,798.39	0	0.00	0.00
Group 2	2,685	497,305,344.36	0	0.00	2	64,779.48	0	0.00	0.00
Total	5,894	1,097,564,084.06	0	0.00	6	519,577.87	0	0.00	0.00
New Century	2,916	546,604,214.06	0	0.00	5	456,582.17	0	0.00	0.00
WMC	2,978	550,959,870.00	0	0.00	1	62,995.70	0	0.00	0.00
Total	5,894	1,097,564,084.06	0	0.00	6	519,577.87	0	0.00	0.00

Interest Shortfall
	Total	Realized	Prepayment	Relief Act	Net
	Unpaid	Losses	Interest	Interest	WAC Rate
			Shortfall	Shortfall	Carryover
A-1	0.00	0.00	0.00	0.00	0.00
A-2	0.00	0.00	0.00	0.00	0.00
A-3	0.00	0.00	0.00	0.00	0.00
A-4	0.00	0.00	0.00	0.00	0.00
A-5	0.00	0.00	0.00	0.00	0.00
A-6	0.00	0.00	0.00	0.00	0.00
M-1	0.00	0.00	0.00	0.00	0.00
M-2	0.00	0.00	0.00	0.00	0.00
M-3	0.00	0.00	0.00	0.00	0.00
M-4	0.00	0.00	0.00	0.00	0.00
M-5	0.00	0.00	0.00	0.00	0.00
M-6	0.00	0.00	0.00	0.00	0.00
M-7	0.00	0.00	0.00	0.00	0.00
M-8	0.00	0.00	0.00	0.00	0.00
M-9	0.00	0.00	0.00	0.00	0.00
M-10	0.00	0.00	0.00	0.00	0.00
M-11	0.00	0.00	0.00	0.00	0.00
P	0.00	0.00	0.00	0.00	0.00
X	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00

		GROUP 1	GROUP 2	TOTAL	NEW CENTURY	WMC	TOTAL
(x)	Number of Loans for which Prepayment Premiums were collected	25	17	42	28	14	42
	Number of Loans for which Prepayment Premiums were scheduled	48	35	83	53	30	83
	Principal Balance of Loans for which Prepayment Premiums were collected	5,678,330.00	4,058,940.00	9,737,270.00	6,385,251.00	3,352,019.00	9,737,270.00
	Current amount of Prepayment Premiums	155,480.42	100,736.31	256,216.73	162,238.08	93,978.65	256,216.73

Page 3

	Asset Backed Securities Corporation Home Equity Loan Trust		Contact:
	2005-HE1		Susan Burdick
	Asset Backed Pass-Through Certificates, Series 2005-HE1		Account Administrator
			651-495-3840
	STATEMENT TO CERTIFICATEHOLDERS		susan.burdick@usbank.com
	Section 4.02 of the PSA, dated Feburary 1, 2005
Distribution Date:	April 25, 2005	**REVISED***

		GROUP 1	GROUP 2	TOTAL	NEW CENTURY	WMC	TOTAL
(xi)	Realized Losses incurred during the related Due Period	0.00	0.00	0.00	0.00	0.00	0.00
	Cumulative Realized Losses since Startup Day	0.00	0.00	0.00	0.00	0.00	0.00
	Bankruptcy Losses	0.00	0.00	0.00	0.00	0.00	0.00

		GROUP 1	GROUP 2	TOTAL	NEW CENTURY	WMC	TOTAL
(xii)	Weighted Average Term to Maturity of Mortgage Loans	353	334	344	352	337	344
	Weighted Average Gross Coupon of Mortgage Loans	6.87747%	7.13648%	6.99470%	7.00671%	6.98271%	6.99470%
	Weighted Average Net Coupon of Mortgage Loans	6.37747%	6.63648%	6.49470%	6.50671%	6.48271%	6.49470%

(xiii)

Aggregate number of Mortgage Loans in the pool

5,894

(xiv)

Overcollateralization Target Amount

17,097,384.81

(xv)

Credit Enhancement Percentage

21.60096%

(xvi)

Overcollateralization Increase Amount

831.02

(xvii)

Overcollateralization Release Amount

0.00

(xviii)

Overcollateralization Deficiency Amount

831.02

(xix)

Excess Overcollateralized Amount

0.00

	(xx)	Payment from Subgroup 1 Yield Maintenance Agreement						0.00
		Subgroup 2 Yield Maintenance Agreement						0.00
		Subordinate Yield Maintenance Agreement						0.00

(xxi)

Net Monthly Excess Cash Flow

2,904,955.57

					GROUP 1	GROUP 2	TOTAL	NEW CENTURY	WMC	TOTAL
	(xxii)	Extra Ordinary Trust Fund Expenses			0.00	0.00	0.00	0.00	0.00	0.00

(xxiii)

Trigger Event Occurence

(xxiv)

Step Down Date Occurred

(xxv)	Subgroup 1 Net WAC Rate	6.8132%
	Subgroup 2 Net WAC Rate	7.0753%
	Subordinate Net WAC Rate	6.8038%

(xxvi)

Available Distribution Amount

25,077,038.88

(xxvii)

Deposit to Net WAC Reserve Fund

1.59

Page 4

Asset Backed Pass-Through Certificates, Series 2005-HE1 8-K/A