			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:

12/27/05

		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	$195,085,153.02	$17,460,801.68	$777,522.72	$18,238,324.40	$0.00	$177,624,351.34
A-2	57643LGB6	$87,522,000.00	$48,771,148.94	$4,365,187.95	$195,680.69	$4,560,868.64	$0.00	$44,405,960.99
A-3	57643LGC4	$172,908,000.00	$25,349,813.70	$16,456,349.72	$97,427.78	$16,553,777.50	$0.00	$8,893,463.98
A-4	57643LGD2	$128,443,000.00	$128,443,000.00	$0.00	$505,066.42	$505,066.42	$0.00	$128,443,000.00
A-5	57643LGE0	$16,324,000.00	$16,324,000.00	$0.00	$65,930.82	$65,930.82	$0.00	$16,324,000.00
M-1	57643LGF7	$53,424,000.00	$53,424,000.00	$0.00	$221,947.04	$221,947.04	$0.00	$53,424,000.00
M-2	57643LGG5	$41,171,000.00	$41,171,000.00	$0.00	$171,774.56	$171,774.56	$0.00	$41,171,000.00
M-3	57643LGH3	$16,664,000.00	$16,664,000.00	$0.00	$70,266.53	$70,266.53	$0.00	$16,664,000.00
M-4	57643LGJ9	$16,664,000.00	$16,664,000.00	$0.00	$73,377.15	$73,377.15	$0.00	$16,664,000.00
M-5	57643LGK6	$17,154,000.00	$17,154,000.00	$0.00	$76,144.70	$76,144.70	$0.00	$17,154,000.00
M-6	57643LGL4	$13,724,000.00	$13,724,000.00	$0.00	$61,773.25	$61,773.25	$0.00	$13,724,000.00
M-7	57643LGM2	$11,273,000.00	$11,273,000.00	$0.00	$56,051.86	$56,051.86	$0.00	$11,273,000.00
M-8	57643LGN0	$9,803,000.00	$9,803,000.00	$0.00	$49,875.49	$49,875.49	$0.00	$9,803,000.00
M-9	57643LGP5	$11,273,000.00	$11,273,000.00	$0.00	$66,072.31	$66,072.31	$0.00	$11,273,000.00
M-10	57643LGQ3	$3,431,000.00	$3,431,000.00	$0.00	$23,464.22	$23,464.22	$0.00	$3,431,000.00
CE	NA	$30,386,759.32	$30,386,759.32	$0.00	$915,595.37	$915,595.37	$0.00	$30,386,759.32
P	NA	$100.00	$100.00	$0.00	$729,231.13	$729,231.13	$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	$638,940,974.98	$38,282,339.35	$4,157,202.04	$42,439,541.39	$0.00	$600,658,635.63

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	49.87532222	2.22092874	52.09625095	0.00000000	507.36912996	2.79000%	4.48375%	4.66875%
A-2	49.87532220	2.23578860	52.11111081	0.00000000	507.36912993	2.82000%	4.51375%	4.69875%
A-3	95.17402156	0.56346601	95.73748757	0.00000000	51.43465878	2.63000%	4.32375%	4.50875%
A-4	0.00000000	3.93222223	3.93222223	0.00000000	1000.00000000	2.73000%	4.42375%	4.60875%
A-5	0.00000000	4.03888875	4.03888875	0.00000000	1000.00000000	2.85000%	4.54375%	4.72875%
M-1	0.00000000	4.15444444	4.15444444	0.00000000	1000.00000000	2.98000%	4.67375%	4.85875%
M-2	0.00000000	4.17222220	4.17222220	0.00000000	1000.00000000	3.00000%	4.69375%	4.87875%
M-3	0.00000000	4.21666647	4.21666647	0.00000000	1000.00000000	3.05000%	4.74375%	4.92875%
M-4	0.00000000	4.40333353	4.40333353	0.00000000	1000.00000000	3.26000%	4.95375%	5.13875%
M-5	0.00000000	4.43888889	4.43888889	0.00000000	1000.00000000	3.30000%	4.99375%	5.17875%
M-6	0.00000000	4.50111119	4.50111119	0.00000000	1000.00000000	3.37000%	5.06375%	5.24875%
M-7	0.00000000	4.97222212	4.97222212	0.00000000	1000.00000000	3.90000%	5.59375%	5.77875%
M-8	0.00000000	5.08777823	5.08777823	0.00000000	1000.00000000	4.03000%	5.72375%	5.90875%
M-9	0.00000000	5.86111151	5.86111151	0.00000000	1000.00000000	4.90000%	6.36526%	6.77875%
M-10	0.00000000	6.83888662	6.83888662	0.00000000	1000.00000000	6.00000%	6.36526%	7.03429%
CE	0.00000000	30.13139244	30.13139244	0.00000000	1000.00000000	3.50367%	1.71959%
P	0.00000000	7292311.3000	7292311.3000	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:

12/27/05

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	$777,522.72	$777,522.72	$0.00	$0.00	$0.00	$0.00	$0.00
A-2	$195,680.69	$195,680.69	$0.00	$0.00	$0.00	$0.00	$0.00
A-3	$97,427.78	$97,427.78	$0.00	$0.00	$0.00	$0.00	$0.00
A-4	$505,066.42	$505,066.42	$0.00	$0.00	$0.00	$0.00	$0.00
A-5	$65,930.82	$65,930.82	$0.00	$0.00	$0.00	$0.00	$0.00
M-1	$221,947.04	$221,947.04	$0.00	$0.00	$0.00	$0.00	$0.00
M-2	$171,774.56	$171,774.56	$0.00	$0.00	$0.00	$0.00	$0.00
M-3	$70,266.53	$70,266.53	$0.00	$0.00	$0.00	$0.00	$0.00
M-4	$73,377.15	$73,377.15	$0.00	$0.00	$0.00	$0.00	$0.00
M-5	$76,144.70	$76,144.70	$0.00	$0.00	$0.00	$0.00	$0.00
M-6	$61,773.25	$61,773.25	$0.00	$0.00	$0.00	$0.00	$0.00
M-7	$56,051.86	$56,051.86	$0.00	$0.00	$0.00	$0.00	$0.00
M-8	$49,875.49	$49,875.49	$0.00	$0.00	$0.00	$0.00	$0.00
M-9	$66,072.31	$63,782.72	$0.00	$0.00	$0.00	$0.00	$0.00
M-10	$23,464.22	$19,412.62	$0.00	$0.00	$0.00	$0.00	$0.00
CE	$915,595.37	$1,088,807.07	$0.00	$0.00	$173,211.70	$0.00	$0.00
P	$729,231.13	N/A	N/A	N/A	$0.00	$0.00	$0.00
Total	$4,157,202.04	$3,594,841.42	$0.00	$0.00	$173,211.70	$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 (after all payments)	$0.00
	Overcollateralization Target Amount	$30,386,759.32
	Monthly Excess Cash Flow	$1,095,148.26

Credit Enhancement Percentage

35.209%

Section 4.02 (v), (vi)
POOL	Stated Principal Balance of Mortgage Loans and REO Properties	$600,658,635.63
	Stated Principal Balance of Mortgage Loans	$597,959,739.75
	Number of Mortgage Loans	3,630

Section 4.02 (vi)
WAC & WAM	Weighted Average Remaining Term to Maturity	340
	Weighted Average Mortgage Interest Rate	7.3148%

Section 4.02 (iv)
P&I ADVANCES		Aggregate Advances for the Collection Period						$1,428,019.97

Section 4.02 (vii)
DELINQUENCIES
				Stated Principal	Stated Principal
		Number	Number as %	Balance	Balance as %
	30-59 days delinquent	185	5.09642%	$28,724,485.66	4.80375%
	60-89 days delinquent	93	2.56198%	$14,269,612.75	2.38638%
	90 or more days delinquent	118	3.25069%	$17,502,997.83	2.92712%
	Foreclosures	57	1.57025%	$9,668,514.59	1.61692%
	Bankruptcies	68	1.87328%	$8,482,528.01	1.41858%

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:

12/27/05

Section 4.02 (viii)
REO	Number of REO Loans	18
	Number of REO Loans as %	0.49587%
	Stated Principal Balance of REO Properties	$2,698,895.88
	Stated Principal Balance of REO Properties as %	0.45135%
	Total Book Value of REO Properties:	$2,804,287.59

Section 4.02 (xxi)
	Stepdown Date Occurrence	NO
	Trigger Event Occurrence	NO
	Cumulative Realized Loss as a Percentage of the Original Pool Balance	0.03194%

Section 4.02 (iii), (xii)
FEES	Trustee Fee	$7,986.76
	Servicing Fee (and any additional Servicer compensation)	$265,966.13
	Credit Risk Manager Fee	$5,324.51
	Extraordinary Trust Fund Expenses	$0.00

Section 4.02 (x), (xxii)
AVAILABLE FUNDS	Principal:
	Scheduled Principal	$520,388.68
	Principal Prepayments (includes curtailments)	$37,240,836.66
	Liquidation Proceeds	$347,902.31
	Total Principal	$38,109,127.65

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

$3,601,182.61

Available Funds (total principal plus net interest)

$41,710,310.26

Section 4.02 (i)
PREPAYMENT
PENALTIES	Prepayment Charges allocated to Class P	729,231.13
	Servicer Prepayment Charge Payment Amounts allocated to Class P	$0.00

Section 4.02 (xi)
LOSSES	Current Realized Losses	$173,211.70
	Aggregate Realized Losses since Closing	$313,090.72

		Subsequent Recoveries						$0.00
		Aggregate Subsequent Recoveries since Closing						$0.00

Section 4.02 (xx)
		Aggregate Loss Severity Percentage						9.29109%

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:

12/27/05

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	$2,289.59	$2,289.59	$0.00
M-10	$4,051.60	$4,051.60	$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	0.507369
			A-2	0.507369
			A-3	0.051435
			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	0.612758
			P	1.000000

Page 4

MASTR ALTERNATIVE LOAN TRUST 2005-NC1 8-K