
                                       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):  May 25, 2005
                          (Date of earliest event reported)

            Indymac MBS Inc (as Depositor under the Pooling and Servicing
                Agreement, dated as March 1, 2005, providing for the
               issuance of IndyMAc INDX Mortgage Loan Trust 2005-AR5
                Mortgage Pass-Through Certificates, Series 2005-AR5)
                 (Exact name of registrant as specified in charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-119384-17                         95-4791925
          (Commission File Number)        (I.R.S. Employer Identification No.)


          155 NORTH LAKE AVENUE
          PASADENA, CALIFORNIA                         91101
          (Address of principal executive offices)     (Zip Code)



          Registrant's Telephone Number, Including Area Code:  (800) 669-2300

       (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(b) under the Exchange Act
(17 CFR 240.14a-12(b))

[  ] 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))


     Item 8.01  Other Events

     Attached hereto is a copy of the Monthly Remittance Statements to the
     Certificateholders which was derived from the monthly information
     submitted by the Master Servicer of the Trust to the Trustee.


     Item 9.01 Financial Statements and Exhibits

     (c) Exhibits:

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     May 25, 2005.

                                    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.


                                  Deutsche Bank National Trust Company,
                                  in its capacity as Trustee under the
                                  Pooling and Servicing Agreement on
                                  behalf of Indymac MBS Inc, Registrant


          Date:  Jun 02, 2005               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          99.1 Monthly Remittance Statement to the Certificateholders
          dated as of May 25, 2005.



IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				IndyMac Bank						1. Certificate Payment Report					2
				IndyMac Bank						2. Collection Account Report					4
										2. Collection Account Report					4
										3. Credit Enhancement Report					6
										4. Collateral Report					7
				Certificate Insurer(s)						5. Delinquency Report					10
				Certificate Insurer(s)						5. Delinquency Report					10
										6. REO Report					16

										7. Foreclosure Report					17
										8. Prepayment Report					18
										9. Prepayment Detail Report					21
										9. Prepayment Detail Report					21
										10. Realized Loss Report					22
										11. Realized Loss Detail Report					25
				Servicer(s)						11. Realized Loss Detail Report					25
				Servicer(s)						12. Triggers and Adj. Cert. Report					26
				IndyMac Bank						12. Triggers and Adj. Cert. Report					26
				IndyMac Bank						13. Other Related Information					27
										13. Other Related Information					27


				Underwriter(s)
				Merrill Lynch


										Total Number of Pages					27
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			March 01, 2005			Brent Hoyler
				Close Date:			March 30, 2005			Administrator
				First Distribution Date:			April 25, 2005			(714) 247-6322
										Brent.Hoyler@db.com
										Brent.Hoyler@db.com
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			May 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			April 29, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000
										Main Phone Number:			(714) 247-6000

										https://www.tss.db.com/invr






Page 1 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution -
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
	Class		Original		Principal						Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance


					(1)		(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)

1-A-1		$	216,239,000.00		212,002,235.27		874,173.55		6,421,076.55		7,295,250.10		0.00		0.00		205,581,158.72
1-A-1		$	216,239,000.00		212,002,235.27		874,173.55		6,421,076.55		7,295,250.10		0.00		0.00		205,581,158.72
1-A-2		$	0.00		0.00		85,658.18		0.00		85,658.18		0.00		0.00		0.00
2-A-1		$	167,573,000.00		165,131,286.14		717,330.31		1,838,775.58		2,556,105.89		0.00		0.00		163,292,510.56
2-A-2		$	14,276,000.00		14,067,983.75		64,254.62		156,650.30		220,904.92		0.00		0.00		13,911,333.45
2-A-3		$	0.00		0.00		36,896.30		0.00		36,896.30		0.00		0.00		0.00
3-A-1		$	52,980,000.00		52,572,597.31		240,334.83		1,171,866.58		1,412,201.41		0.00		0.00		51,400,730.73
4-A-1		$	33,439,000.00		33,432,719.29		153,747.52		10,843.40		164,590.92		0.00		0.00		33,421,875.89
A-R		$	100.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
B-1		$	12,661,000.00		12,659,562.60		57,630.31		11,155.93		68,786.24		0.00		0.00		12,648,406.67
B-2		$	10,522,000.00		10,520,805.44		47,894.01		9,271.20		57,165.21		0.00		0.00		10,511,534.24
B-3		$	6,839,000.00		6,838,223.57		31,129.74		6,026.02		37,155.76		0.00		0.00		6,832,197.55
B-4		$	4,997,000.00		4,996,432.69		22,745.33		4,402.98		27,148.31		0.00		0.00		4,992,029.71
B-5		$	3,682,000.00		3,681,581.98		16,759.72		3,244.30		20,004.02		0.00		0.00		3,678,337.68
B-6		$	2,896,742.26		2,896,413.41		13,185.38		2,552.40		15,737.78		0.00		0.00		2,893,861.01
P		$	100.00		100.00		32,245.80		0.00		32,245.80		0.00		0.00		100.00


Total			526,104,942.26		518,799,941.45		2,393,985.60		9,635,865.24		12,029,850.84		0.00		0.00		509,164,076.21
Total




Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
									Orig. Principal		Prior							Current
									Orig. Principal		Prior							Current
	Period		Period						(with Notional)		Principal						Total	Principal
	Period		Period
Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
1-A-1	04/01/05		04/30/05		A-30/360		45660LGQ6		216,239,000.00		980.407028		4.042627		29.694350		33.736977	950.712678
1-A-2	04/01/05		04/30/05		A-30/360		45660LJF7		216,239,000.00		980.407028		0.396127		0.000000		0.396127	950.712678
2-A-1	04/01/05		04/30/05		A-30/360		45660LGR4		167,573,000.00		985.428954		4.280703		10.972982		15.253686	974.455972
2-A-2	04/01/05		04/30/05		A-30/360		45660LGS2		14,276,000.00		985.428954		4.500884		10.972983		15.473867	974.455972
2-A-3	04/01/05		04/30/05		A-30/360		45660LGT0		167,573,000.00		985.428954		0.220180		0.000000		0.220180	974.455972
3-A-1	04/01/05		04/30/05		A-30/360		45660LGU7		52,980,000.00		992.310255		4.536331		22.119037		26.655368	970.191218
4-A-1	04/01/05		04/30/05		A-30/360		45660LGV5		33,439,000.00		999.812174		4.597850		0.324274		4.922124	999.487900
A-R	04/01/05		04/30/05		A-30/360		45660LGW3		100.00		0.000000		0.000000		0.000000		0.000000	0.000000
B-1	04/01/05		04/30/05		A-30/360		45660LGX1		12,661,000.00		999.886470		4.551798		0.881126		5.432923	999.005345
B-2	04/01/05		04/30/05		A-30/360		45660LGY9		10,522,000.00		999.886470		4.551797		0.881125		5.432922	999.005345
B-3	04/01/05		04/30/05		A-30/360		45660LGZ6		6,839,000.00		999.886470		4.551797		0.881126		5.432923	999.005344
B-4	04/01/05		04/30/05		A-30/360		45660LHA0		4,997,000.00		999.886470		4.551797		0.881125		5.432922	999.005345
B-5	04/01/05		04/30/05		A-30/360		45660LHB8		3,682,000.00		999.886469		4.551798		0.881124		5.432922	999.005345
B-6	04/01/05		04/30/05		A-30/360		45660LHC6		2,896,742.26		999.886476		4.551796		0.881128		5.432924	999.005348
P	04/01/05		04/30/05		A-30/360		45660LJE0		100.00		1,000.000000		322,458.000000		0.000000		322,458.000000	1,000.000000




Page 2 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution

Distribution to Date -
																	Current


	Original				Unscheduled		Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal		Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)		(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
1-A-1	216,239,000.00		1,765,817.05		10,346,356.60		311,484.68		10,657,841.28		12,423,658.33		0.00		0.00		205,581,158.72
1-A-2	0.00		172,437.32		0.00		0.00		0.00		172,437.32		0.00		0.00		0.00
2-A-1	167,573,000.00		1,445,267.42		2,223,971.84		2,056,517.60		4,280,489.44		5,725,756.86		0.00		0.00		163,292,510.56
2-A-2	14,276,000.00		129,476.96		189,466.22		1,389,803.05		364,666.55		494,143.51		0.00		0.00		13,911,333.45
2-A-3	0.00		74,544.96		0.00		0.00		0.00		74,544.96		0.00		0.00		0.00
3-A-1	52,980,000.00		482,449.87		1,525,257.40		54,011.87		1,579,269.27		2,061,719.14		0.00		0.00		51,400,730.73
4-A-1	33,439,000.00		307,523.63		1,206.79		15,917.32		17,124.11		324,647.74		0.00		0.00		33,421,875.89
A-R	100.00		0.45		0.00		0.00		100.00		100.45		0.00		0.00		0.00
B-1	12,661,000.00		115,255.64		0.00		12,593.33		12,593.33		127,848.97		0.00		0.00		12,648,406.67
B-2	10,522,000.00		95,783.89		0.00		10,465.76		10,465.76		106,249.65		0.00		0.00		10,511,534.24
B-3	6,839,000.00		62,256.80		0.00		6,802.45		6,802.45		69,059.25		0.00		0.00		6,832,197.55
B-4	4,997,000.00		45,488.70		0.00		4,970.29		4,970.29		50,458.99		0.00		0.00		4,992,029.71
B-5	3,682,000.00		33,517.99		0.00		3,662.32		3,662.32		37,180.31		0.00		0.00		3,678,337.68
B-6	2,896,742.26		26,369.63		0.00		2,881.25		2,881.25		29,250.88		0.00		0.00		2,893,861.01
P	100.00		32,245.80		0.00		0.00		0.00		32,245.80		0.00		0.00		100.00


Total	526,104,942.26		4,788,436.11		14,286,258.85		3,869,109.92		16,940,866.05		21,729,302.16		0.00		0.00		509,164,076.21


Interest Detail -
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or

	Through		(with Notional)		Accrued		Supported		Unpaid		Interest		Optimal		Deferred		Unpaid

Class	Rate		Balance		Interest		Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
1-A-1	4.94810%		212,002,235.27		874,173.55		0.00		0.00		0.00		874,173.55		874,173.55		0.00
1-A-2	0.48485%		212,002,235.27		85,658.18		0.00		0.00		0.00		85,658.18		85,658.18		0.00
2-A-1	5.21280%		165,131,286.14		717,330.31		0.00		0.00		0.00		717,330.31		717,330.31		0.00
2-A-2	5.48092%		14,067,983.75		64,254.62		0.00		0.00		0.00		64,254.62		64,254.62		0.00
2-A-3	0.26812%		165,131,286.14		36,896.30		0.00		0.00		0.00		36,896.30		36,896.30		0.00
3-A-1	5.48578%		52,572,597.31		240,334.83		0.00		0.00		0.00		240,334.83		240,334.83		0.00
4-A-1	5.51846%		33,432,719.29		153,747.52		0.00		0.00		0.00		153,747.52		153,747.52		0.00
A-R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
B-1	5.46278%		12,659,562.60		57,630.31		0.00		0.00		0.00		57,630.31		57,630.31		0.00
B-2	5.46278%		10,520,805.44		47,894.01		0.00		0.00		0.00		47,894.01		47,894.01		0.00
B-3	5.46278%		6,838,223.57		31,129.74		0.00		0.00		0.00		31,129.74		31,129.74		0.00
B-4	5.46278%		4,996,432.69		22,745.33		0.00		0.00		0.00		22,745.33		22,745.33		0.00
B-5	5.46278%		3,681,581.98		16,759.72		0.00		0.00		0.00		16,759.72		16,759.72		0.00
B-6	5.46278%		2,896,413.41		13,185.38		0.00		0.00		0.00		13,185.38		13,185.38		0.00
P	386,949.60000%		100.00		0.00		0.00		0.00		0.00		0.00		32,245.80		0.00


Total			895,933,462.86		2,361,739.80		0.00		0.00		0.00		2,361,739.80		2,393,985.60		0.00



Page 3 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
						Group 4		Group 3		Group 2		Group 1		Total
Principal Collections						11,362.24		1,172,472.91		2,009,260.19		6,442,769.90		9,635,865.24
Principal Withrawals						0.00		0.00		0.00		0.00		0.00
Principal Other Accounts						0.00		0.00		0.00		0.00		0.00
TOTAL NET PRINCIPAL						11,362.24		1,172,472.91		2,009,260.19		6,442,769.90		9,635,865.24
Interest Collections						170,866.47		267,309.25		910,572.25		1,105,112.07		2,453,860.05
Interest Withdrawals						-0.00		-0.00		-0.00		-0.00		-0.00
Interest Other Accounts						0.00		0.00		0.00		32,245.80		32,245.80
Interest Fees						-4,019.91		-6,342.81		-19,870.86		-29,640.88		-59,874.46
TOTAL NET INTEREST						166,846.56		260,966.44		890,701.40		1,075,471.19		2,393,985.59
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION						178,208.80		1,433,439.35		2,899,961.59		7,518,241.09		12,029,850.83



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
							Group 4		Group 3		Group 2		Group 1		Total
Scheduled Principal Received							6,608.59		7,669.42		20,620.43		23,647.94		58,546.38
Curtailments							4,753.65		883.49		19,614.72		11,871.60		37,123.46
Prepayments In Full							0.00		1,163,920.00		1,819,025.06		6,159,522.08		9,142,467.14
Repurchased/Substitutions							0.00		0.00		149,999.98		247,728.28		397,728.26
Liquidations							0.00		0.00		0.00		0.00		0.00
Insurance Principal							0.00		0.00		0.00		0.00		0.00
Other Additional Principal							0.00		0.00		0.00		0.00		0.00
Delinquent Principal							-5,058.19		-4,647.76		-16,585.21		-17,055.68		-43,346.84
Realized Losses							-0.00		-0.00		-0.00		-0.00		-0.00
Principal Recoveries
Advanced Principal							5,058.19		4,647.76		16,585.21		17,055.68		43,346.84
TOTAL PRINCIPAL COLLECTED							11,362.24		1,172,472.91		2,009,260.19		6,442,769.90		9,635,865.24


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
						Group 4		Group 3		Group 2		Group 1		Total
TOTAL PRINCIPAL OTHER ACCOUNTS						0.00		0.00		0.00		0.00		0.00





Page 4 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
						Group 4		Group 3		Group 2		Group 1		Total
Scheduled Interest						178,700.36		280,022.00		955,872.94		1,121,543.25		2,536,138.55
Repurchased/Substitution Interest						0.00		0.00		734.37		1,083.81		1,818.18
Liquidation Interest						0.00		0.00		0.00		0.00		0.00
Insurance Interest						0.00		0.00		0.00		0.00		0.00
Other Additional Interest						0.00		0.00		0.00		32,245.80		32,245.80
Prepayment Interest Shortfalls						-0.00		-777.65		-324.42		-3,701.57		-4,803.64
Delinquent Interest						-123,571.73		-199,163.72		-719,192.99		-778,135.05		-1,820,063.49
Interest Realized Losses
Compensating Interest						0.00		777.65		324.42		3,701.57		4,803.65
Civil Relief Act Shortfalls						-0.00		-0.00		-0.00		-0.00		-0.00
Interest Advanced						115,737.85		186,450.97		673,157.93		728,374.26		1,703,721.01
TOTAL INTEREST COLLECTED						170,866.47		267,309.25		910,572.25		1,105,112.07		2,453,860.05


INTEREST - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
						Group 4		Group 3		Group 2		Group 1		Total
Prepayment Charges						0.00		0.00		0.00		32,245.80		32,245.80
TOTAL INTEREST OTHER ACCOUNTS						0.00		0.00		0.00		32,245.80		32,245.80



INTEREST - FEES
INTEREST - FEES
						Group 4		Group 3		Group 2		Group 1		Total
Current Servicing Fees						3,503.97		5,126.54		14,905.95		22,246.01		45,782.47
Trustee Fees						196.52		309.21		1,056.31		1,248.12		2,810.17
TOTAL INTEREST FEES						4,019.91		6,342.81		19,870.86		29,640.88		59,874.46




Page 5 of 27
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Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS


SPACE INTENTIONALLY LEFT BLANK





INSURANCE
INSURANCE
						Group 4		Group 3		Group 2		Group 1		Total
PMI PREMIUM						319.42		907.06		3,908.60		6,146.75		11,281.83



STRUCTURAL FEATURES

SPACE INTENTIONALLY LEFT BLANK



Page 6 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

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Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Collateral Report


COLLATERAL



							Group 4		Group 3		Group 2		Group 1		Total



Loan Count:


Original						156		220		696		799		1,871
Prior						156		218		690		787		1,851
Prefunding						0		0		0		0		0
Scheduled Paid Offs						-0		-0		-0		-0		-0
Full Voluntary Prepayments						-0		-3		-7		-21		-31
Repurchases						-0		-0		-1		-1		-2
Liquidations						-0		-0		-0		-0		-0
Current						156		215		682		765		1,818
Principal Balance:


Original						36,287,932.26		57,493,708.48		197,662,688.77		234,660,512.75		526,104,842.26
Prior						36,281,134.59		57,085,706.52		195,011,241.96		230,421,758.38		518,799,841.45
Prefunding						0.00		0.00		0.00		0.00		0.00
Scheduled Principal						-6,608.59		-7,669.42		-20,620.43		-23,647.94		-58,546.38
Partial Prepayments						-4,753.65		-883.49		-19,614.72		-11,871.60		-37,123.46
Full Voluntary Prepayments						-0.00		-1,163,920.00		-1,819,025.06		-6,159,522.08		-9,142,467.14
Repurchases						-0.00		-0.00		-149,999.98		-247,728.28		-397,728.26
Liquidations						-0.00		-0.00		-0.00		-0.00		-0.00
Current						36,269,772.35		55,913,233.61		193,001,981.77		223,978,988.48		509,163,976.21





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

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Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
						Group 4		Group 3		Group 2		Group 1		Total
Weighted Average Coupon Original						5.91051%		5.88867%		5.88822%		5.84262%		5.86947%
Weighted Average Coupon Prior						5.91051%		5.88867%		5.88822%		5.84262%		5.86947%
Weighted Average Coupon Current						5.91052%		5.88635%		5.88647%		5.84646%		5.87037%
Weighted Average Months to Maturity Original						359		359		357		358		358
Weighted Average Months to Maturity Prior						359		359		357		358		358
Weighted Average Months to Maturity Current						357		358		356		357		357
Weighted Avg Remaining Amortization Term Original						359		359		357		358		358
Weighted Avg Remaining Amortization Term Prior						359		359		357		358		358
Weighted Avg Remaining Amortization Term Current						357		358		356		357		357
Weighted Average Seasoning Original						1.49		1.31		2.53		2.18		2.17
Weighted Average Seasoning Prior						1.49		1.31		2.53		2.18		2.17
Weighted Average Seasoning Current						2.49		2.31		3.51		3.16		3.15









Page 8 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

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Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
						Group 4		Group 3		Group 2		Group 1		Total
Weighted Average Margin Original						2.71982%		2.77468%		2.66596%		2.74422%		2.71646%
Weighted Average Margin Prior						2.71982%		2.77468%		2.66596%		2.74422%		2.71646%
Weighted Average Margin Current						2.71981%		2.77274%		2.66669%		2.74484%		2.71678%
Weighted Average Max Rate Original						5.95826%		6.00000%		5.81176%		5.98530%		5.91984%
Weighted Average Max Rate Prior						5.95826%		6.00000%		5.81176%		5.98530%		5.91984%
Weighted Average Max Rate Current						5.95826%		6.00000%		5.81296%		5.98503%		5.92013%
Weighted Average Min Rate Original						2.71982%		2.77468%		2.66596%		2.74422%		2.71646%
Weighted Average Min Rate Prior						2.71982%		2.77468%		2.66596%		2.74422%		2.71646%
Weighted Average Min Rate Current						2.71981%		2.77274%		2.66669%		2.74484%		2.71678%
Weighted Average Cap Up Original						1.76142%		1.77972%		1.65609%		1.67635%		1.68590%
Weighted Average Cap Up Prior						1.76142%		1.77972%		1.65609%		1.67635%		1.68590%
Weighted Average Cap Up Current						1.76140%		1.78518%		1.65688%		1.67442%		1.68610%
Weighted Average Cap Down Original						1.76142%		1.77972%		1.65609%		1.67635%		1.68590%
Weighted Average Cap Down Prior						1.76142%		1.77972%		1.65609%		1.67635%		1.68590%
Weighted Average Cap Down Current						1.76140%		1.78518%		1.65688%		1.67442%		1.68610%




SERVICING FEES & ADVANCES

							Group 4		Group 3		Group 2		Group 1		Total




Current Servicing Fees						3,503.97		5,126.54		14,905.95		22,246.01		45,782.47
Delinquent Servicing Fees						7,833.88		12,712.75		46,035.06		49,760.79		116,342.48
TOTAL SERVICING FEES						11,337.85		17,839.28		60,941.01		72,006.80		162,124.94


Total Servicing Fees						11,337.85		17,839.28		60,941.01		72,006.80		162,124.94
Compensating Interest						-0.00		-777.65		-324.42		-3,701.57		-4,803.65
Delinquent Servicing Fees						-7,833.88		-12,712.75		-46,035.06		-49,760.79		-116,342.48
COLLECTED SERVICING FEES						3,503.97		4,348.88		14,581.53		18,544.43		40,978.81


Total Advanced Interest						115,737.85		186,450.97		673,157.93		728,374.26		1,703,721.01
Total Advanced Principal						5,058.19		4,647.76		16,585.21		17,055.68		43,346.84
Aggregate Advances with respect to this Distribution						120,796.04		191,098.73		689,743.14		745,429.94		1,747,067.84





ADDITIONAL COLLATERAL INFORMATION
						Group 4		Group 3		Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)						0.00		777.65		324.42		3,701.57		4,803.64
Compensating Interest						-0.00		-777.65		-324.42		-3,701.57		-4,803.65
Net Prepayment Interest Shortfall (PPIS)						0.00		0.00		0.00		0.00		0.00
Weighted Average Net Mortgage Rate						5.518457%		5.485782%		5.480923%		5.432953%




Page 9 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

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Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				6,391,238.09		628,500.00		0.00		7,019,738.09
			% Balance				1.26%		0.12%		0.00%		1.38%
			# Loans				18		3		0		21
			% # Loans				0.99%		0.17%		0.00%		1.16%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		126,996.76		0.00		0.00		126,996.76
			% Balance		0.00%		0.02%		0.00%		0.00%		0.02%
			# Loans		0		1		0		0		1
			% # Loans		0.00%		0.06%		0.00%		0.00%		0.06%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		6,518,234.85		628,500.00		0.00		7,146,734.85
			% Balance		0.00%		1.28%		0.12%		0.00%		1.40%
			# Loans		0		19		3		0		22
			% # Loans		0.00%		1.05%		0.17%		0.00%		1.21%









Page 10 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				2,346,292.64		419,000.00		0.00		2,765,292.64
			% Balance				1.05%		0.19%		0.00%		1.23%
			# Loans				7		2		0		9
			% # Loans				0.92%		0.26%		0.00%		1.18%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		2,346,292.64		419,000.00		0.00		2,765,292.64
			% Balance		0.00%		1.05%		0.19%		0.00%		1.23%
			# Loans		0		7		2		0		9
			% # Loans		0.00%		0.92%		0.26%		0.00%		1.18%










Page 11 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				2,840,065.71		209,500.00		0.00		3,049,565.71
			% Balance				1.47%		0.11%		0.00%		1.58%
			# Loans				8		1		0		9
			% # Loans				1.17%		0.15%		0.00%		1.32%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		2,840,065.71		209,500.00		0.00		3,049,565.71
			% Balance		0.00%		1.47%		0.11%		0.00%		1.58%
			# Loans		0		8		1		0		9
			% # Loans		0.00%		1.17%		0.15%		0.00%		1.32%










Page 12 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution

	GROUP 3
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				1,204,879.74		0.00		0.00		1,204,879.74
			% Balance				2.15%		0.00%		0.00%		2.15%
			# Loans				3		0		0		3
			% # Loans				1.40%		0.00%		0.00%		1.40%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		126,996.76		0.00		0.00		126,996.76
			% Balance		0.00%		0.23%		0.00%		0.00%		0.23%
			# Loans		0		1		0		0		1
			% # Loans		0.00%		0.47%		0.00%		0.00%		0.47%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		1,331,876.50		0.00		0.00		1,331,876.50
			% Balance		0.00%		2.38%		0.00%		0.00%		2.38%
			# Loans		0		4		0		0		4
			% # Loans		0.00%		1.86%		0.00%		0.00%		1.86%










Page 13 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution

	GROUP 4
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%










Page 14 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution

ADDITIONAL DELINQUENCY REPORTING


							# of Accounts			Principal Balance			% of Total

30-59 Days Delinquent								19		$6,518,234.85				1.28%

60-89 Days Delinquent								3		$628,500.00				0.12%

90 or more Days Delinquent								0		$0.00				0.00%

Aggregate								22		$7,146,734.85				1.40%

The above statistics include Mortgage Loans in foreclosure but exclude REO properties


							# of Accounts			Principal Balance			% of Total

Loans in foreclosure proceedings							0			$0.00				0.00%

Loans in bankruptcy proceedings								1		$126,996.76				0.02%

REO Properties							0			$0.00				0.00%


Delinquency

Category							Loan Count			Stated Balance			% of Total

0							1,796			$502,017,241.36				98.60%

30							19			$6,518,234.85				1.28%

60							3			$628,500.00				0.12%

90							0
90							0			$0.00				0.00%

FC							0			$0.00				0.00%

REO							0			$0.00				0.00%

Total							1,818			$509,163,976.21				100.00%

*The above amounts include Bankruptcies. Total Bankruptcies for the period were:

BK								1		$126,996.76				0.02%



Page 15 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
REO Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date




TOTAL



Page 16 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date




TOTAL



Page 17 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

							Group 4		Group 3		Group 2		Group 1		Total




Current


Number of Paid in Full Loans						0		3		7		21		31
Number of Repurchased Loans						0		0		1		1		2
Total Number of Loans Prepaid in Full						0		3		8		22		33
Curtailments Amount						4,753.65		883.49		19,614.72		11,871.60		37,123.46
Paid in Full Balance						0.00		1,163,920.00		1,819,025.06		6,159,522.08		9,142,467.14
Repurchased Loans Balance						0.00		0.00		149,999.98		247,728.28		397,728.26
Total Prepayment Amount						4,753.65		1,164,803.49		1,988,639.76		6,419,121.96		9,577,318.86

Cumulative


Number of Paid in Full Loans						0		5		13		33		51
Number of Repurchased Loans						0		0		1		1		2
Total Number of Loans Prepaid in Full						0		5		14		34		53
Paid in Full Balance						0.00		1,564,248.00		4,444,111.63		10,366,470.04		16,374,829.67
Repurchased Loans Balance						0.00		0.00		149,999.98		247,728.28		397,728.26
Curtailments Amount						4,966.56		924.23		24,517.18		19,606.93		50,014.90
Total Prepayment Amount						4,966.56		1,565,172.23		4,618,628.79		10,633,805.25		16,822,572.83










Page 18 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

							Group 4		Group 3		Group 2		Group 1		Total



SMM						0.01%		2.04%		1.02%		2.79%		1.85%
3 Months Avg SMM						0.01%		1.37%		1.18%		2.29%		1.61%
12 Months Avg SMM						0.01%		1.37%		1.18%		2.29%		1.61%
Avg SMM Since Cut-off						0.01%		1.37%		1.18%		2.29%		1.61%


CPR						0.16%		21.92%		11.57%		28.76%		20.04%
3 Months Avg CPR						0.08%		15.27%		13.23%		24.29%		17.72%
12 Months Avg CPR						0.08%		15.27%		13.23%		24.29%		17.72%
Avg CPR Since Cut-off						0.08%		15.27%		13.23%		24.29%		17.72%


PSA						31.51%		4,739.35%		1,648.03%		4,553.35%		3,178.85%
3 Months Avg PSA Approximation						20.59%		4,213.63%		2,190.98%		4,547.25%		3,330.51%
12 Months Avg PSA Approximation						20.59%		4,213.63%		2,190.98%		4,547.25%		3,330.51%
Avg PSA Since Cut-off Approximation						20.59%		4,213.63%		2,190.98%		4,547.25%		3,330.51%










Page 19 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution






PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.002min(30,WAS)) Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn)(1-SMMn+1)...(1-SMMm)]^(1/months in period n,m) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*Avg WASn,m)) Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m) Weighted Average Seasoning (WAS) Dates correspond to distribution dates. Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases.













Page 20 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

3793825 1			240,000.00		240,000.00			19-Apr-2005		5.250%		FL - 80.00%		Paid Off - 360		01-Aug-2004
			240,000.00

120160347 1			218,500.00		216,204.43			29-Apr-2005		5.250%		IL - 95.00%		Paid Off - 360		01-Aug-2004
120160347 1					216,204.43			29-Apr-2005		5.250%		IL - 95.00%		Paid Off - 360		01-Aug-2004
120164104 2			97,440.00		97,440.00			04-May-2005		5.625%		GA - 80.00%		Paid Off - 360		01-Sep-2004
120164104 2					97,440.00			04-May-2005		5.625%		GA - 80.00%		Paid Off - 360		01-Sep-2004
120167128 2			333,700.00		333,700.00			26-Apr-2005		5.500%		VA - 72.54%		Paid Off - 360		01-Oct-2004
120167128 2					333,700.00			26-Apr-2005		5.500%		VA - 72.54%		Paid Off - 360		01-Oct-2004
120167528 1			107,000.00		106,925.00			06-May-2005		5.750%		MO - 76.43%		Paid Off - 360		01-Oct-2004
120167528 1					106,925.00			06-May-2005		5.750%		MO - 76.43%		Paid Off - 360		01-Oct-2004
120202236 1			230,400.00		228,770.19			29-Apr-2005		6.000%		MD - 90.00%		Paid Off - 360		01-Oct-2004
120202236 1					228,770.19			29-Apr-2005		6.000%		MD - 90.00%		Paid Off - 360		01-Oct-2004
120382308 2			523,650.00		521,962.66			11-May-2005		5.625%		MI - 80.00%		Paid Off - 360		01-Feb-2005
120382308 2					521,962.66			11-May-2005		5.625%		MI - 80.00%		Paid Off - 360		01-Feb-2005
120477534 1			235,600.00		235,600.00			01-Apr-2005		6.000%		FL - 95.00%		Paid Off - 360		01-Dec-2004
120477534 1					235,600.00			01-Apr-2005		6.000%		FL - 95.00%		Paid Off - 360		01-Dec-2004
120635203 2			136,000.00		136,000.00			27-Apr-2005		6.125%		FL - 80.00%		Paid Off - 360		01-Apr-2005
120635203 2					136,000.00			27-Apr-2005		6.125%		FL - 80.00%		Paid Off - 360		01-Apr-2005
120647488 3			480,000.00		480,000.00			28-Apr-2005		6.875%		CA - 78.69%		Paid Off - 360		01-Apr-2005
120647488 3					480,000.00			28-Apr-2005		6.875%		CA - 78.69%		Paid Off - 360		01-Apr-2005
120690244 1			400,000.00		399,875.00			13-May-2005		5.625%		NJ - 74.07%		Paid Off - 360		01-Mar-2005
120690244 1					399,875.00			13-May-2005		5.625%		NJ - 74.07%		Paid Off - 360		01-Mar-2005
120733927 1			223,600.00		223,600.00			29-Apr-2005		6.250%		IL - 80.00%		Paid Off - 360		01-Mar-2005
120733927 1					223,600.00			29-Apr-2005		6.250%		IL - 80.00%		Paid Off - 360		01-Mar-2005
120734833 1			243,920.00		243,920.00			27-Apr-2005		6.125%		MD - 80.00%		Paid Off - 360		01-Feb-2005
120734833 1					243,920.00			27-Apr-2005		6.125%		MD - 80.00%		Paid Off - 360		01-Feb-2005
120740770 3			244,000.00		244,000.00			18-Apr-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Mar-2005
120740770 3					244,000.00			18-Apr-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Mar-2005
120741128 1			454,500.00		454,500.00			18-Apr-2005		6.375%		VA - 90.00%		Paid Off - 360		01-Feb-2005
120741128 1					454,500.00			18-Apr-2005		6.375%		VA - 90.00%		Paid Off - 360		01-Feb-2005
120743608 1			296,000.00		296,000.00			26-Apr-2005		6.375%		IL - 80.00%		Paid Off - 360		01-Mar-2005
120743608 1					296,000.00			26-Apr-2005		6.375%		IL - 80.00%		Paid Off - 360		01-Mar-2005
120767775 2			116,772.00		116,772.00			06-May-2005		6.250%		AZ - 80.00%		Paid Off - 360		01-Mar-2005
120767775 2					116,772.00			06-May-2005		6.250%		AZ - 80.00%		Paid Off - 360		01-Mar-2005
120795201 1			495,500.00		495,500.00			28-Apr-2005		5.625%		CA - 70.28%		Paid Off - 360		01-Apr-2005
120795201 1					495,500.00			28-Apr-2005		5.625%		CA - 70.28%		Paid Off - 360		01-Apr-2005
120795250 3			439,920.00		439,920.00			05-May-2005		6.250%		VA - 80.00%		Paid Off - 360		01-Apr-2005
120795250 3					439,920.00			05-May-2005		6.250%		VA - 80.00%		Paid Off - 360		01-Apr-2005
120799482 1			253,350.00		253,350.00			04-May-2005		6.875%		NM - 79.30%		Paid Off - 360		01-Mar-2005
120799482 1					253,350.00			04-May-2005		6.875%		NM - 79.30%		Paid Off - 360		01-Mar-2005
120801288 1			228,650.00		228,650.00			19-Apr-2005		5.625%		FL - 95.00%		Paid Off - 360		01-Mar-2005
120801288 1					228,650.00			19-Apr-2005		5.625%		FL - 95.00%		Paid Off - 360		01-Mar-2005
120805808 1			256,980.00		256,980.00			04-May-2005		6.500%		NV - 80.00%		Paid Off - 360		01-Apr-2005
120805808 1					256,980.00			04-May-2005		6.500%		NV - 80.00%		Paid Off - 360		01-Apr-2005
120806029 1			544,000.00		544,000.00			02-May-2005		5.875%		CA - 80.00%		Paid Off - 360		01-Mar-2005
120806029 1					544,000.00			02-May-2005		5.875%		CA - 80.00%		Paid Off - 360		01-Mar-2005
120816851 1			285,950.00		285,950.00			05-May-2005		5.625%		WI - 80.00%		Paid Off - 360		01-Feb-2005
120816851 1					285,950.00			05-May-2005		5.625%		WI - 80.00%		Paid Off - 360		01-Feb-2005
120850729 1			528,400.00		528,400.00			05-May-2005		6.125%		VA - 80.00%		Paid Off - 360		01-Mar-2005
120850729 1					528,400.00			05-May-2005		6.125%		VA - 80.00%		Paid Off - 360		01-Mar-2005
120863164 1			123,200.00		123,200.00			02-May-2005		6.000%		WA - 80.00%		Paid Off - 360		01-Mar-2005
120863164 1					123,200.00			02-May-2005		6.000%		WA - 80.00%		Paid Off - 360		01-Mar-2005
120868385 2			468,000.00		467,957.40			02-May-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Feb-2005
120868385 2					467,957.40			02-May-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Feb-2005
120887412 2			145,193.00		145,193.00			05-May-2005		5.500%		AZ - 95.00%		Paid Off - 360		01-Apr-2005
120887412 2					145,193.00			05-May-2005		5.500%		AZ - 95.00%		Paid Off - 360		01-Apr-2005
120888804 1			250,000.00		250,000.00			09-May-2005		6.750%		MA - 66.67%		Paid Off - 360		01-Apr-2005
120888804 1					250,000.00			09-May-2005		6.750%		MA - 66.67%		Paid Off - 360		01-Apr-2005
120911300 1			367,258.00		367,257.46			13-May-2005		5.625%		TX - 77.32%		Paid Off - 360		01-Mar-2005
120911300 1					367,257.46			13-May-2005		5.625%		TX - 77.32%		Paid Off - 360		01-Mar-2005
120932135 1			180,840.00		180,840.00			05-May-2005		6.875%		FL - 80.00%		Paid Off - 360		01-Apr-2005
120932135 1					180,840.00			05-May-2005		6.875%		FL - 80.00%		Paid Off - 360		01-Apr-2005
120166965 1			248,000.00		247,728.28			29-Apr-2005		5.250%		PA - 80.00%		Repur/Subs - 360		01-Aug-2004
120166965 1					247,728.28			29-Apr-2005		5.250%		PA - 80.00%		Repur/Subs - 360		01-Aug-2004
120167022 2			150,000.00		149,999.98			29-Apr-2005		5.875%		FL - 75.00%		Repur/Subs - 360		01-Oct-2004
120167022 2					149,999.98			29-Apr-2005		5.875%		FL - 75.00%		Repur/Subs - 360		01-Oct-2004


TOTAL			9,546,323.00		9,540,195.40
TOTAL


Page 21 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



							Group 4		Group 3		Group 2		Group 1		Total


Current
Current



Number of Loans Liquidated						0		0		0		0		0
Collateral Principal Realized Loss/(Gain) Amount						0.00		0.00		0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount						0.00		0.00		0.00		0.00		0.00
Net Liquidation Proceeds						0.00		0.00		0.00		0.00		0.00

Cumulative
Cumulative



Number of Loans Liquidated						0		0		0		0		0
Collateral Realized Loss/(Gain) Amount						0.00		0.00		0.00		0.00		0.00
Net Liquidation Proceeds						0.00		0.00		0.00		0.00		0.00





		Special Hazard Loss Coverage Amt														5,187,998.41
		Fraud Loss Coverage Amt														28,480,045.00
		Bankruptcy Loss Coverage Amt														231,909.00










Page 22 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution


DEFAULT SPEEDS



							Group 4		Group 3		Group 2		Group 1		Total



MDR						0.00%		0.00%		0.00%		0.00%		0.00%
3 Months Avg MDR						0.00%		0.00%		0.00%		0.00%		0.00%
12 Months Avg MDR						0.00%		0.00%		0.00%		0.00%		0.00%
Avg MDR Since Cut-off						0.00%		0.00%		0.00%		0.00%		0.00%


CDR						0.00%		0.00%		0.00%		0.00%		0.00%
3 Months Avg CDR						0.00%		0.00%		0.00%		0.00%		0.00%
12 Months Avg CDR						0.00%		0.00%		0.00%		0.00%		0.00%
Avg CDR Since Cut-off						0.00%		0.00%		0.00%		0.00%		0.00%


SDA						0.00%		0.00%		0.00%		0.00%		0.00%
3 Months Avg SDA Approximation						0.00%		0.00%		0.00%		0.00%		0.00%
12 Months Avg SDA Approximation						0.00%		0.00%		0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation						0.00%		0.00%		0.00%		0.00%		0.00%


Loss Severity Approximation for Current Period						0.00%		0.00%		0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation						0.00%		0.00%		0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation						0.00%		0.00%		0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off						0.00%		0.00%		0.00%		0.00%		0.00%












Page 23 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution





COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
	Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)



	Conditional Default Rate (CDR): 1-((1-MDR)^12)

	SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))

	Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)(1-MDRn+1)...*(1-MDRm)]^(1/months in period n,m)
	Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

	Average SDA Approximation over period between the nth month and mth month:
	AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))

	Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)
	Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

	Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

	Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
	Dates correspond to distribution dates.




Page 24 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative
															Cumulative
&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)




TOTAL



Page 25 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
						Group 4		Group 3		Group 2		Group 1		Total
						Has Optional Termination Date Reached (0=No,1=Yes)								0
						Has Sr. Credit Supp. Depletion Date Occured		0		0		0		0
						0		0		0		0		0
						Has Spl. Haz. Cov. Term. Date Occured (0=No,1=Yes)								0
						Has Fraud Loss Coverage Term. Date Occured								0
						Has Bankrpt Loss Cov. Term. Date Occured								0



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
						Group 4		Group 3		Group 2		Group 1		Total
Current Senior Percentage						92.149046%		92.094152%		91.891764%		92.006170%
Next Senior Percentage						92.148017%		91.929455%		91.814520%		91.785913%
Current Subordinate Percentage						7.850954%		7.905848%		8.108236%		7.993830%
Next Subordinate Percentage						7.851983%		8.070545%		8.185480%		8.214087%
Senior Prepayment Percentage						100.000000%		100.000000%		100.000000%		100.000000%
Next Senior Prepayment Percentage						100.000000%		100.000000%		100.000000%		100.000000%
Subordinate Prepayment Percentage						0.000000%		0.000000%		0.000000%		0.000000%
Next Subordinate Prepayment Percentage						0.000000%		0.000000%		0.000000%		0.000000%




Page 26 of 27
IndyMac INDX Mortgage Loan Trust 2005-AR5

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AR5

May 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
						Group 4		Group 3		Group 2		Group 1		Total
Current Scheduled Payments						185,308.95		287,691.42		976,493.37		1,145,191.19		2,594,684.93
Current Scheduled Payments 1 Month Prior						185,318.22		289,767.59		991,359.50		1,166,596.97		2,633,042.28
Current Scheduled Payments 2 Month Prior						0.00		0.00		0.00		0.00		0.00
Current Scheduled Payments 3 Month Prior						0.00		0.00		0.00		0.00		0.00
Current Scheduled Payments 4 Month Prior						0.00		0.00		0.00		0.00		0.00
Current Scheduled Payments 5 Month Prior						0.00		0.00		0.00		0.00		0.00
Current Scheduled Payments 6 Month Prior						0.00		0.00		0.00		0.00		0.00
Current Scheduled Payments 7 Month Prior						0.00		0.00		0.00		0.00		0.00
Current Scheduled Payments 8 Month Prior						0.00		0.00		0.00		0.00		0.00
Current Scheduled Payments 9 Month Prior						0.00		0.00		0.00		0.00		0.00
Current Scheduled Payments 10 Month Prior						0.00		0.00		0.00		0.00		0.00
Current Scheduled Payments 11 Month Prior						0.00		0.00		0.00		0.00		0.00


Sched. Payments for 60+Day Delinquent Loans						0.00		818.32		894.74		2,186.98		3,900.04
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior						0.00		818.32		0.00		0.00		818.32
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior						0.00		0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior						0.00		0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior						0.00		0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior						0.00		0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior						0.00		0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior						0.00		0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior						0.00		0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior						0.00		0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior						0.00		0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior						0.00		0.00		0.00		0.00		0.00


Next Period Pass Through Rate - Subordinated Classes														5.562180%

Class B-1 Writedown Amount														0.00
Class B-2 Writedown Amount														0.00
Class B-3 Writedown Amount														0.00
Class B-4 Writedown Amount														0.00
Class B-5 Writedown Amount
Class B-6 Writedown Amount




Page 27 of 27

IndyMac INDX Mortgage Loan Trust 2005-AR5 8-K