
                                    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):  June 27, 2005
                            (Date of earliest event reported)

            Financial Asset Securities Corp. (as Depositor under the
              Pooling and Servicing Agreement, dated as May 1, 2005,
          providing for the issuance of Soundview Home Loan Trust 2005-OPT1
              Mortgage Pass-Through Certificates, Series 2005-OPT1)
                 (Exact name of registrant as specified in charter)

                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-121661-14                          06-1442101
          (Commission File Number)        (I.R.S. Employer Identification No.)


               600 Steamboat Road
               Greenwich, Connecticut                    06830
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (203) 625-2700


         (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
     June 27, 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 Financial Asset Securities
                                  Corp., Registrant


          Date:  Jun 30, 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 June 27, 2005.



Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				Greenwich Capital Markets						1. Certificate Payment Report					2
				Greenwich Capital Markets						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					11
				Certificate Insurer(s)						5. Delinquency Report					11
										6. REO Report					14

										7. Foreclosure Report					15
										8. Prepayment Report					16
										9. Prepayment Detail Report					19
										9. Prepayment Detail Report					19
										10. Realized Loss Detail Report					22
										11. Triggers and Adj. Cert. Report					23
				Servicer(s)						11. Triggers and Adj. Cert. Report					23
				Servicer(s)						12. Additional Certificate Report					24
				Option One						12. Additional Certificate Report					24
				Option One


				Underwriter(s)
				Greenwich Capital Markets


										Total Number of Pages					24
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			May 01, 2005			Nicholas Gisler
				Close Date:			May 12, 2005			Administrator
				First Distribution Date:			June 27, 2005			(714) 247-6268
										Nicholas.Gisler@db.com
										Nicholas.Gisler@db.com
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			June 27, 2005
										Factor Information:			(800) 735-7777
				Record Date:			May 31, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							June 24, 2005
							June 24, 2005

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






Page 1 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 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)

I-A1		$	973,300,000.00		973,300,000.00		4,079,208.44		12,970,336.23		17,049,544.67		0.00		0.00		960,329,663.77
I-A1		$	973,300,000.00		973,300,000.00		4,079,208.44		12,970,336.23		17,049,544.67		0.00		0.00		960,329,663.77
II-A1		$	94,482,000.00		94,482,000.00		382,704.59		5,336,472.74		5,719,177.33		0.00		0.00		89,145,527.26
II-A2		$	67,248,000.00		67,248,000.00		275,828.88		0.00		275,828.88		0.00		0.00		67,248,000.00
II-A3		$	91,038,000.00		91,038,000.00		386,203.43		0.00		386,203.43		0.00		0.00		91,038,000.00
II-A4		$	36,932,000.00		36,932,000.00		159,977.11		0.00		159,977.11		0.00		0.00		36,932,000.00
M-1		$	37,500,000.00		37,500,000.00		163,875.00		0.00		163,875.00		0.00		0.00		37,500,000.00
M-2		$	66,000,000.00		66,000,000.00		298,540.00		0.00		298,540.00		0.00		0.00		66,000,000.00
M-3		$	27,750,000.00		27,750,000.00		127,295.42		0.00		127,295.42		0.00		0.00		27,750,000.00
M-4		$	17,250,000.00		17,250,000.00		80,231.67		0.00		80,231.67		0.00		0.00		17,250,000.00
M-5		$	17,250,000.00		17,250,000.00		83,537.92		0.00		83,537.92		0.00		0.00		17,250,000.00
M-6		$	22,500,000.00		22,500,000.00		114,712.50		0.00		114,712.50		0.00		0.00		22,500,000.00
M-7		$	11,250,000.00		11,250,000.00		58,793.75		0.00		58,793.75		0.00		0.00		11,250,000.00
M-8		$	15,000,000.00		15,000,000.00		92,766.67		0.00		92,766.67		0.00		0.00		15,000,000.00
M-9		$	7,500,000.00		7,500,000.00		60,758.33		0.00		60,758.33		0.00		0.00		7,500,000.00
M-10		$	7,500,000.00		7,500,000.00		60,758.33		0.00		60,758.33		0.00		0.00		7,500,000.00
C		$	7,499,900.00		7,499,900.00		608,579.40		0.00		608,579.40		0.00		100.00		7,500,000.00
P		$	100.00		100.00		237,906.26		0.00		237,906.26		0.00		0.00		100.00
R		$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			1,500,000,000.00		1,500,000,000.00		7,271,677.70		18,306,808.97		25,578,486.67		0.00		100.00		1,481,693,291.03
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)
I-A1	05/12/05		06/26/05		A-Act/360		83611MDB1		973,300,000.00		1,000.000000		4.191111		13.326144		17.517255	986.673856
II-A1	05/12/05		06/26/05		A-Act/360		83611MDC9		94,482,000.00		1,000.000000		4.050556		56.481369		60.531925	943.518631
II-A2	05/12/05		06/26/05		A-Act/360		83611MDD7		67,248,000.00		1,000.000000		4.101667		0.000000		4.101667	1,000.000000
II-A3	05/12/05		06/26/05		A-Act/360		83611MDE5		91,038,000.00		1,000.000000		4.242222		0.000000		4.242222	1,000.000000
II-A4	05/12/05		06/26/05		A-Act/360		83611MDF2		36,932,000.00		1,000.000000		4.331667		0.000000		4.331667	1,000.000000
M-1	05/12/05		06/26/05		A-Act/360		83611MDG0		37,500,000.00		1,000.000000		4.370000		0.000000		4.370000	1,000.000000
M-2	05/12/05		06/26/05		A-Act/360		83611MDH8		66,000,000.00		1,000.000000		4.523333		0.000000		4.523333	1,000.000000
M-3	05/12/05		06/26/05		A-Act/360		83611MDJ4		27,750,000.00		1,000.000000		4.587222		0.000000		4.587222	1,000.000000
M-4	05/12/05		06/26/05		A-Act/360		83611MDK1		17,250,000.00		1,000.000000		4.651111		0.000000		4.651111	1,000.000000
M-5	05/12/05		06/26/05		A-Act/360		83611MDL9		17,250,000.00		1,000.000000		4.842778		0.000000		4.842778	1,000.000000
M-6	05/12/05		06/26/05		A-Act/360		83611MDM7		22,500,000.00		1,000.000000		5.098333		0.000000		5.098333	1,000.000000
M-7	05/12/05		06/26/05		A-Act/360		83611MDN5		11,250,000.00		1,000.000000		5.226111		0.000000		5.226111	1,000.000000
M-8	05/12/05		06/26/05		A-Act/360		83611MDP0		15,000,000.00		1,000.000000		6.184445		0.000000		6.184445	1,000.000000
M-9	05/12/05		06/26/05		A-Act/360		83611MDQ8		7,500,000.00		1,000.000000		8.101111		0.000000		8.101111	1,000.000000
M-10	05/12/05		06/26/05		A-Act/360		83611MDR6		7,500,000.00		1,000.000000		8.101111		0.000000		8.101111	1,000.000000
C	05/01/05		05/30/05		A-30/360				7,499,900.00		1,000.000000		81.145002		0.000000		81.145002	1,000.013334
P	05/01/05		05/30/05		A-30/360				100.00		1,000.000000		2,379,062.600000		0.000000		2,379,062.600000	1,000.000000
R	05/01/05		05/30/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 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)
I-A1	973,300,000.00		4,079,208.44		12,507,447.03		462,889.20		12,970,336.23		17,049,544.67		0.00		0.00		960,329,663.77
II-A1	94,482,000.00		382,704.59		5,146,023.12		190,449.62		5,336,472.74		5,719,177.33		0.00		0.00		89,145,527.26
II-A2	67,248,000.00		275,828.88		0.00		0.00		0.00		275,828.88		0.00		0.00		67,248,000.00
II-A3	91,038,000.00		386,203.43		0.00		0.00		0.00		386,203.43		0.00		0.00		91,038,000.00
II-A4	36,932,000.00		159,977.11		0.00		0.00		0.00		159,977.11		0.00		0.00		36,932,000.00
M-1	37,500,000.00		163,875.00		0.00		0.00		0.00		163,875.00		0.00		0.00		37,500,000.00
M-2	66,000,000.00		298,540.00		0.00		0.00		0.00		298,540.00		0.00		0.00		66,000,000.00
M-3	27,750,000.00		127,295.42		0.00		0.00		0.00		127,295.42		0.00		0.00		27,750,000.00
M-4	17,250,000.00		80,231.67		0.00		0.00		0.00		80,231.67		0.00		0.00		17,250,000.00
M-5	17,250,000.00		83,537.92		0.00		0.00		0.00		83,537.92		0.00		0.00		17,250,000.00
M-6	22,500,000.00		114,712.50		0.00		0.00		0.00		114,712.50		0.00		0.00		22,500,000.00
M-7	11,250,000.00		58,793.75		0.00		0.00		0.00		58,793.75		0.00		0.00		11,250,000.00
M-8	15,000,000.00		92,766.67		0.00		0.00		0.00		92,766.67		0.00		0.00		15,000,000.00
M-9	7,500,000.00		60,758.33		0.00		0.00		0.00		60,758.33		0.00		0.00		7,500,000.00
M-10	7,500,000.00		60,758.33		0.00		0.00		0.00		60,758.33		0.00		0.00		7,500,000.00
C	7,499,900.00		608,579.40		-96.43		-3.57		0.00		608,579.40		0.00		100.00		7,500,000.00
P	100.00		237,906.26		0.00		0.00		0.00		237,906.26		0.00		0.00		100.00
R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total	1,500,000,000.00		7,271,677.70		17,653,373.72		653,335.25		18,306,808.97		25,578,486.67		0.00		100.00		1,481,693,291.03


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)
I-A1	3.28000%		973,300,000.00		4,079,208.44		0.00		0.00		0.00		4,079,208.44		4,079,208.44		0.00
II-A1	3.17000%		94,482,000.00		382,704.59		0.00		0.00		0.00		382,704.59		382,704.59		0.00
II-A2	3.21000%		67,248,000.00		275,828.88		0.00		0.00		0.00		275,828.88		275,828.88		0.00
II-A3	3.32000%		91,038,000.00		386,203.43		0.00		0.00		0.00		386,203.43		386,203.43		0.00
II-A4	3.39000%		36,932,000.00		159,977.11		0.00		0.00		0.00		159,977.11		159,977.11		0.00
M-1	3.42000%		37,500,000.00		163,875.00		0.00		0.00		0.00		163,875.00		163,875.00		0.00
M-2	3.54000%		66,000,000.00		298,540.00		0.00		0.00		0.00		298,540.00		298,540.00		0.00
M-3	3.59000%		27,750,000.00		127,295.42		0.00		0.00		0.00		127,295.42		127,295.42		0.00
M-4	3.64000%		17,250,000.00		80,231.67		0.00		0.00		0.00		80,231.67		80,231.67		0.00
M-5	3.79000%		17,250,000.00		83,537.92		0.00		0.00		0.00		83,537.92		83,537.92		0.00
M-6	3.99000%		22,500,000.00		114,712.50		0.00		0.00		0.00		114,712.50		114,712.50		0.00
M-7	4.09000%		11,250,000.00		58,793.75		0.00		0.00		0.00		58,793.75		58,793.75		0.00
M-8	4.55922%		15,000,000.00		87,384.96		0.00		0.00		0.00		87,384.96		92,766.67		0.00
M-9	4.55922%		7,500,000.00		43,692.48		0.00		0.00		0.00		43,692.48		60,758.33		0.00
M-10	4.55922%		7,500,000.00		43,692.48		0.00		0.00		0.00		43,692.48		60,758.33		0.00
C	97.39000%		7,499,900.00		0.00		-6,385,678.62		0.00		0.00		6,385,678.62		608,679.40		5,776,999.22
P	2,854,875.12000%		100.00		0.00		0.00		0.00		0.00		0.00		237,906.26		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			1,500,000,000.00		6,385,678.63		-6,385,678.62		0.00		0.00		12,771,357.25		7,271,777.70		5,776,999.22



Page 3 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
										Group 2		Group 1		Total
Principal Collections										5,336,442.79		12,970,263.42		18,306,706.21
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										5,336,442.79		12,970,263.42		18,306,706.21
Interest Collections										1,373,371.39		4,711,914.14		6,085,285.54
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		237,906.26		237,906.26
Interest Fees										-42,833.13		-148,824.03		-191,657.16
TOTAL NET INTEREST										1,330,538.26		4,800,996.37		6,131,534.64
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										6,666,981.05		17,771,259.79		24,438,240.85



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											123,422.15		529,913.10		653,335.25
Curtailments											31,640.37		97,338.20		128,978.57
Prepayments In Full											5,181,380.27		12,343,012.12		17,524,392.39
Repurchased/Substitutions											0.00		0.00		0.00
Liquidations											0.00		0.00		0.00
Other Additional Principal											0.00		0.00		0.00
Delinquent Principal											-33,258.73		-123,406.36		-156,665.09
Realized Losses											-0.00		-0.00		-0.00
Advanced Principal											33,258.73		123,406.36		156,665.09
TOTAL PRINCIPAL COLLECTED											5,336,442.79		12,970,263.42		18,306,706.21


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



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





Page 4 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										#######		4,757,997.15		6,134,681.72
Repurchased/Substitution Interest										0.00		0.00		0.00
Liquidation Interest										0.00		0.00		0.00
Other Additional Interest										0.00		0.00		0.00
Prepayment Interest Shortfalls										-10,182.79		-14,712.42		-24,895.21
Delinquent Interest										-370,258.75		-1,168,994.57		-1,539,253.32
Compensating Interest										21,598.19		14,712.42		36,310.61
Civil Relief Act Shortfalls										-0.00		-0.00		-0.00
Interest Advanced										355,530.17		1,122,911.57		1,478,441.74
TOTAL INTEREST COLLECTED										1,373,371.39		4,711,914.14		6,085,285.54


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
										Group 2		Group 1		Total
TOTAL INTEREST WITHDRAWALS										0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges														237,906.26
TOTAL INTEREST OTHER ACCOUNTS										0.00		237,906.26		237,906.26



INTEREST - FEES
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										42,833.13		148,824.03		191,657.16
Trustee Fees										0.00		0.00		0.00
TOTAL INTEREST FEES										42,833.13		148,824.03		191,657.16




Page 5 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution
Credit Enhancement Report

ACCOUNTS


RESERVE

Amount Deposited						39,513.42
Amount Withdrawn						39,513.41
Releases						0.01




INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Overcollateralization Target Amount														7,500,000.00
Overcollateralization Amount														7,500,100.00
Excess Overcollateralized Amount														7,499,897.24
Overcollateralization Release Amount														0.00
Overcollateralization Deficiency Amount														102.76
Extra Principal distribution Amount



Page 6 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										993		7,043		8,036
Prior										993		7,043		8,036
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-17		-68		-85
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										976		6,975		7,951
Principal Balance:


Original										344,104,870.95		1,155,895,126.29		1,499,999,997.24
Prior										344,104,870.95		1,155,895,126.29		1,499,999,997.24
Prefunding										0.00		0.00		490,293,107.45
Scheduled Principal										-123,422.15		-529,913.10		-653,335.25
Partial Prepayments										-31,640.37		-97,338.20		-128,978.57
Full Voluntary Prepayments										-5,181,380.27		-12,343,012.12		-17,524,392.39
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										338,768,428.16		1,142,924,862.87		1,481,693,291.03





PREFUNDING
PREFUNDING
										Group 2		Group 1		Total
Prefunding Account Original Balance														376,435,569.62
Prefunding Account Beginning Balance										0.00		0.00		490,293,107.45
Subsequent Loans Added to the Pool										113,857,537.83		376,435,569.62		0.00
Prefund Release to Certificate Holders										113,857,537.83		376,435,569.62		0.00
Prefunding Account Ending Balance										0.00		0.00		490,293,107.45
Withdrawal from Interest Coverage Account Balance														1,151,661.23




Page 7 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution


CHARACTERISTICS
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										7.19262%		7.34370%		7.30904%
Weighted Average Coupon Prior										7.19262%		7.34370%		7.30904%
Weighted Average Coupon Current										7.19262%		7.34370%		7.30904%
Weighted Average Months to Maturity Original										356		355		355
Weighted Average Months to Maturity Prior										356		355		355
Weighted Average Months to Maturity Current										356		355		355
Weighted Avg Remaining Amortization Term Original										356		355		355
Weighted Avg Remaining Amortization Term Prior										356		355		355
Weighted Avg Remaining Amortization Term Current										356		355		355
Weighted Average Seasoning Original										2.63		2.62		2.62
Weighted Average Seasoning Prior										2.63		2.62		2.62
Weighted Average Seasoning Current										2.63		2.62		2.62






Page 8 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution



ARM CHARACTERISTICS
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										5.24098%		5.34591%		5.32127%
Weighted Average Margin Prior										5.24098%		5.34591%		5.32127%
Weighted Average Margin Current										5.24098%		5.34591%		5.32127%
Weighted Average Max Rate Original										13.12627%		13.32773%		13.28042%
Weighted Average Max Rate Prior										13.12627%		13.32773%		13.28042%
Weighted Average Max Rate Current										13.12627%		13.32773%		13.28042%
Weighted Average Min Rate Original										7.09125%		7.31169%		7.25992%
Weighted Average Min Rate Prior										7.09125%		7.31169%		7.25992%
Weighted Average Min Rate Current										7.09125%		7.31169%		7.25992%
Weighted Average Cap Up Original										1.01214%		1.00669%		1.00797%
Weighted Average Cap Up Prior										1.01214%		1.00669%		1.00797%
Weighted Average Cap Up Current										1.01214%		1.00669%		1.00797%
Weighted Average Cap Down Original										1.01214%		1.00669%		1.00797%
Weighted Average Cap Down Prior										1.01214%		1.00669%		1.00797%
Weighted Average Cap Down Current										1.01214%		1.00669%		1.00797%





Page 9 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution

SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										42,833.13		148,824.03		191,657.16
Delinquent Servicing Fees										14,728.58		46,083.00		60,811.58
TOTAL SERVICING FEES										86,026.22		288,973.80		375,000.02


Total Servicing Fees										86,026.22		288,973.80		375,000.02
Compensating Interest										-21,598.19		-14,712.42		-36,310.61
Delinquent Servicing Fees										-14,728.58		-46,083.00		-60,811.58
COLLECTED SERVICING FEES										21,234.94		134,111.62		155,346.57


Total Advaced Interest										355,530.17		1,122,911.57		1,478,441.74
Total Advaced Principal										33,258.73		123,406.36		156,665.09
Aggregate Advances with respect to this Distribution										388,788.90		1,246,317.93		1,635,106.83





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)										10,182.79		14,712.42		24,895.21
Compensating Interest										-21,598.19		-14,712.42		-36,310.61
Net Prepayment Interest Shortfall (PPIS)										0.00		0.00		0.00

Weighted Average Net Mortgage Rate										6.934482%		7.391269%		7.273570%

Libor For Current Period														3.0900%

Libor For Next Period														3.3144%



Page 10 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				180,125.17		0.00		0.00		180,125.17
			% Balance				0.01%		0.00%		0.00%		0.01%
			# Loans				2		0		0		2
			% # Loans				0.03%		0.00%		0.00%		0.03%
	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		779,480.35		0.00		0.00		0.00		779,480.35
			% Balance		0.05%		0.00%		0.00%		0.00%		0.05%
			# Loans		6		0		0		0		6
			% # Loans		0.08%		0.00%		0.00%		0.00%		0.08%
	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		779,480.35		180,125.17		0.00		0.00		959,605.52
			% Balance		0.05%		0.01%		0.00%		0.00%		0.06%
			# Loans		6		2		0		0		8
			% # Loans		0.08%		0.03%		0.00%		0.00%		0.10%









Page 11 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				180,125.17		0.00		0.00		180,125.17
			% Balance				0.02%		0.00%		0.00%		0.02%
			# Loans				2		0		0		2
			% # Loans				0.03%		0.00%		0.00%		0.03%
	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		779,480.35		0.00		0.00		0.00		779,480.35
			% Balance		0.07%		0.00%		0.00%		0.00%		0.07%
			# Loans		6		0		0		0		6
			% # Loans		0.09%		0.00%		0.00%		0.00%		0.09%
	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		779,480.35		180,125.17		0.00		0.00		959,605.52
			% Balance		0.07%		0.02%		0.00%		0.00%		0.08%
			# Loans		6		2		0		0		8
			% # Loans		0.09%		0.03%		0.00%		0.00%		0.11%










Page 12 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution

	GROUP 2
					< 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 13 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 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 14 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 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 15 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										17		68		85
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										17		68		85
Curtailments Amount										31,640.37		97,338.20		128,978.57
Paid in Full Balance										5,181,380.27		12,343,012.12		17,524,392.39
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										5,213,020.64		12,440,350.32		17,653,370.96

Cumulative


Number of Paid in Full Loans										17		68		85
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										17		68		85
Paid in Full Balance										5,181,380.27		12,343,012.12		17,524,392.39
Repurchased Loans Balance										0.00		0.00		0.00
Curtailments Amount										31,640.37		97,338.20		128,978.57
Total Prepayment Amount										5,213,020.64		12,440,350.32		17,653,370.96










Page 16 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

											Group 2		Group 1		Total



SMM										1.52%		1.08%		1.18%
3 Months Avg SMM										1.52%		1.08%		1.18%
12 Months Avg SMM										1.52%		1.08%		1.18%
Avg SMM Since Cut-off										1.52%		1.08%		1.18%


CPR										16.74%		12.18%		13.25%
3 Months Avg CPR										16.74%		12.18%		13.25%
12 Months Avg CPR										16.74%		12.18%		13.25%
Avg CPR Since Cut-off										16.74%		12.18%		13.25%


PSA										3,177.52%		2,325.65%		2,525.76%
3 Months Avg PSA Approximation										3,177.51%		2,325.65%		2,525.75%
12 Months Avg PSA Approximation										3,177.51%		2,325.65%		2,525.75%
Avg PSA Since Cut-off Approximation										3,177.51%		2,325.65%		2,525.75%










Page 17 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 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 18 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 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

11073378 1			192,000.00		191,622.57			09-May-2005		8.150%		AZ - 79.84%		Paid Off - 360		01-Mar-2005
			192,000.00

11073389 1			127,500.00		127,228.28			03-Jun-2005		7.750%		CA - 74.84%		Paid Off - 360		01-Mar-2005
11073389 1					127,228.28			03-Jun-2005		7.750%		CA - 74.84%		Paid Off - 360		01-Mar-2005
21061878 1			115,500.00		115,263.95			02-Jun-2005		7.990%		CA - 69.86%		Paid Off - 360		01-Mar-2005
21061878 1					115,263.95			02-Jun-2005		7.990%		CA - 69.86%		Paid Off - 360		01-Mar-2005
21062358 1			450,000.00		449,573.92			13-Jun-2005		9.700%		CA - 89.91%		Paid Off - 360		01-Apr-2005
21062358 1					449,573.92			13-Jun-2005		9.700%		CA - 89.91%		Paid Off - 360		01-Apr-2005
21063926 1			268,000.00		267,784.62			06-Jun-2005		7.100%		CA - 79.94%		Paid Off - 360		01-Jun-2005
21063926 1					267,784.62			06-Jun-2005		7.100%		CA - 79.94%		Paid Off - 360		01-Jun-2005
31031677 1			176,000.00		176,000.00			01-Jun-2005		8.100%		CA - 80.00%		Paid Off - 360		01-Mar-2005
31031677 1					176,000.00			01-Jun-2005		8.100%		CA - 80.00%		Paid Off - 360		01-Mar-2005
31031681 1			310,000.00		309,370.55			09-Jun-2005		7.990%		CA - 82.50%		Paid Off - 360		01-Mar-2005
31031681 1					309,370.55			09-Jun-2005		7.990%		CA - 82.50%		Paid Off - 360		01-Mar-2005
31032171 2			440,000.00		439,272.06			24-May-2005		8.990%		CA - 79.87%		Paid Off - 360		01-Mar-2005
31032171 2					439,272.06			24-May-2005		8.990%		CA - 79.87%		Paid Off - 360		01-Mar-2005
31032709 1			252,000.00		251,628.17			10-Jun-2005		7.550%		CA - 79.88%		Paid Off - 360		01-Apr-2005
31032709 1					251,628.17			10-Jun-2005		7.550%		CA - 79.88%		Paid Off - 360		01-Apr-2005
31032822 2			434,000.00		433,455.83			15-Jun-2005		8.350%		CA - 79.83%		Paid Off - 360		01-Apr-2005
31032822 2					433,455.83			15-Jun-2005		8.350%		CA - 79.83%		Paid Off - 360		01-Apr-2005
41064104 1			270,000.00		269,291.81			16-May-2005		6.700%		IL - 99.74%		Paid Off - 360		01-Mar-2005
41064104 1					269,291.81			16-May-2005		6.700%		IL - 99.74%		Paid Off - 360		01-Mar-2005
51054465 1			189,000.00		188,357.38			18-May-2005		8.000%		GA - 89.69%		Paid Off - 360		01-Jan-2005
51054465 1					188,357.38			18-May-2005		8.000%		GA - 89.69%		Paid Off - 360		01-Jan-2005
51055862 1			188,800.00		188,548.36			31-May-2005		8.050%		GA - 79.89%		Paid Off - 360		01-Apr-2005
51055862 1					188,548.36			31-May-2005		8.050%		GA - 79.89%		Paid Off - 360		01-Apr-2005
61057107 1			54,000.00		53,624.42			02-Jun-2005		6.950%		KY - 35.28%		Paid Off - 360		01-Apr-2005
61057107 1					53,624.42			02-Jun-2005		6.950%		KY - 35.28%		Paid Off - 360		01-Apr-2005
61057215 1			83,250.00		83,137.68			18-May-2005		7.990%		OH - 89.88%		Paid Off - 360		01-Apr-2005
61057215 1					83,137.68			18-May-2005		7.990%		OH - 89.88%		Paid Off - 360		01-Apr-2005
71064527 1			69,300.00		69,230.83			02-May-2005		9.450%		FL - 89.91%		Paid Off - 360		01-Apr-2005
71064527 1					69,230.83			02-May-2005		9.450%		FL - 89.91%		Paid Off - 360		01-Apr-2005
71064950 1			61,875.00		61,805.00			09-May-2005		8.850%		FL - 74.92%		Paid Off - 360		01-Apr-2005
71064950 1					61,805.00			09-May-2005		8.850%		FL - 74.92%		Paid Off - 360		01-Apr-2005
71065684 1			152,000.00		151,766.81			02-Jun-2005		7.350%		FL - 74.76%		Paid Off - 360		01-May-2005
71065684 1					151,766.81			02-Jun-2005		7.350%		FL - 74.76%		Paid Off - 360		01-May-2005
71065793 2			110,000.00		109,958.59			09-Jun-2005		10.750%		FL - 70.71%		Paid Off - 360		01-Jun-2005
71065793 2					109,958.59			09-Jun-2005		10.750%		FL - 70.71%		Paid Off - 360		01-Jun-2005
81052114 1			69,300.00		69,153.80			14-Jun-2005		7.800%		MD - 89.81%		Paid Off - 360		01-Mar-2005
81052114 1					69,153.80			14-Jun-2005		7.800%		MD - 89.81%		Paid Off - 360		01-Mar-2005
81053051 1			254,400.00		253,943.84			07-Jun-2005		8.600%		MD - 79.86%		Paid Off - 360		01-Mar-2005
81053051 1					253,943.84			07-Jun-2005		8.600%		MD - 79.86%		Paid Off - 360		01-Mar-2005
81053416 1			216,000.00		215,571.06			11-May-2005		8.100%		VA - 79.84%		Paid Off - 360		01-Mar-2005
81053416 1					215,571.06			11-May-2005		8.100%		VA - 79.84%		Paid Off - 360		01-Mar-2005
81053510 1			114,000.00		113,811.39			02-Jun-2005		8.990%		VA - 94.84%		Paid Off - 360		01-Mar-2005
81053510 1					113,811.39			02-Jun-2005		8.990%		VA - 94.84%		Paid Off - 360		01-Mar-2005
81053590 1			238,190.00		238,190.00			01-Jun-2005		8.300%		VA - 90.00%		Paid Off - 360		01-Apr-2005
81053590 1					238,190.00			01-Jun-2005		8.300%		VA - 90.00%		Paid Off - 360		01-Apr-2005
81054077 1			133,250.00		133,108.38			11-May-2005		9.150%		MD - 64.62%		Paid Off - 360		01-Apr-2005
81054077 1					133,108.38			11-May-2005		9.150%		MD - 64.62%		Paid Off - 360		01-Apr-2005
121037423 1			96,000.00		95,784.91			15-Jun-2005		7.500%		WI - 79.82%		Paid Off - 360		01-Mar-2005
121037423 1					95,784.91			15-Jun-2005		7.500%		WI - 79.82%		Paid Off - 360		01-Mar-2005
161040234 2			401,850.00		401,850.00			23-May-2005		7.850%		MA - 95.00%		Paid Off - 360		01-Apr-2005
161040234 2					401,850.00			23-May-2005		7.850%		MA - 95.00%		Paid Off - 360		01-Apr-2005
211026671 1			130,000.00		129,747.93			17-May-2005		9.400%		MD - 72.08%		Paid Off - 360		01-Mar-2005
211026671 1					129,747.93			17-May-2005		9.400%		MD - 72.08%		Paid Off - 360		01-Mar-2005
211026909 1			130,400.00		130,135.75			31-May-2005		8.000%		MD - 79.84%		Paid Off - 360		01-Mar-2005
211026909 1					130,135.75			31-May-2005		8.000%		MD - 79.84%		Paid Off - 360		01-Mar-2005
231060788 1			130,129.00		129,822.62			06-Jun-2005		7.250%		ME - 78.68%		Paid Off - 360		01-Mar-2005
231060788 1					129,822.62			06-Jun-2005		7.250%		ME - 78.68%		Paid Off - 360		01-Mar-2005
231061346 1			224,910.00		224,714.46			07-Jun-2005		6.700%		NJ - 89.92%		Paid Off - 360		01-May-2005
231061346 1					224,714.46			07-Jun-2005		6.700%		NJ - 89.92%		Paid Off - 360		01-May-2005
231061699 1			96,200.00		96,016.58			13-Jun-2005		8.300%		NJ - 64.88%		Paid Off - 360		01-Mar-2005
231061699 1					96,016.58			13-Jun-2005		8.300%		NJ - 64.88%		Paid Off - 360		01-Mar-2005
231062021 1			186,960.00		186,560.78			16-May-2005		7.740%		NJ - 94.80%		Paid Off - 360		01-Mar-2005
231062021 1					186,560.78			16-May-2005		7.740%		NJ - 94.80%		Paid Off - 360		01-Mar-2005
231062359 1			336,000.00		335,552.16			08-Jun-2005		8.050%		NJ - 79.89%		Paid Off - 360		01-Apr-2005
231062359 1					335,552.16			08-Jun-2005		8.050%		NJ - 79.89%		Paid Off - 360		01-Apr-2005
251035497 1			235,000.00		234,538.06			01-Jun-2005		8.150%		CA - 56.52%		Paid Off - 360		01-Mar-2005
251035497 1					234,538.06			01-Jun-2005		8.150%		CA - 56.52%		Paid Off - 360		01-Mar-2005
251035576 1			121,100.00		120,889.46			01-Jun-2005		8.750%		CA - 57.57%		Paid Off - 360		01-Mar-2005
251035576 1					120,889.46			01-Jun-2005		8.750%		CA - 57.57%		Paid Off - 360		01-Mar-2005
271019414 2			58,050.00		57,954.18			08-Jun-2005		9.000%		CA - 78.96%		Paid Off - 360		01-Mar-2005
271019414 2					57,954.18					9.000%		CA - 78.96%		Paid Off - 360



Page 19 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution

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

271019677 2			384,000.00		382,901.24			07-Jun-2005		6.250%		CA - 95.73%		Paid Off - 360		01-Mar-2005
			384,000.00

271019703 2			66,350.00		66,179.75			10-May-2005		9.400%		CA - 84.97%		Paid Off - 360		01-Mar-2005
271019703 2					66,179.75			10-May-2005		9.400%		CA - 84.97%		Paid Off - 360		01-Mar-2005
311025525 1			180,000.00		179,616.41			08-Jun-2005		7.750%		NJ - 89.81%		Paid Off - 360		01-Mar-2005
311025525 1					179,616.41			08-Jun-2005		7.750%		NJ - 89.81%		Paid Off - 360		01-Mar-2005
311025812 1			136,000.00		135,780.07			08-Jun-2005		9.100%		NJ - 77.59%		Paid Off - 360		01-Mar-2005
311025812 1					135,780.07			08-Jun-2005		9.100%		NJ - 77.59%		Paid Off - 360		01-Mar-2005
321022857 1			149,400.00		149,069.87			27-May-2005		9.000%		UT - 89.80%		Paid Off - 360		01-Feb-2005
321022857 1					149,069.87			27-May-2005		9.000%		UT - 89.80%		Paid Off - 360		01-Feb-2005
331034607 1			404,000.00		403,392.44			10-Jun-2005		7.450%		NY - 79.88%		Paid Off - 360		01-May-2005
331034607 1					403,392.44			10-Jun-2005		7.450%		NY - 79.88%		Paid Off - 360		01-May-2005
331035775 2			50,000.00		49,873.64			03-Jun-2005		10.350%		NY - 79.93%		Paid Off - 240		01-May-2005
331035775 2					49,873.64			03-Jun-2005		10.350%		NY - 79.93%		Paid Off - 240		01-May-2005
341022598 1			159,600.00		159,409.90			08-Jun-2005		8.600%		VA - 69.92%		Paid Off - 360		01-Apr-2005
341022598 1					159,409.90			08-Jun-2005		8.600%		VA - 69.92%		Paid Off - 360		01-Apr-2005
341023288 1			202,248.00		202,157.57			06-Jun-2005		9.950%		NC - 89.96%		Paid Off - 360		01-May-2005
341023288 1					202,157.57			06-Jun-2005		9.950%		NC - 89.96%		Paid Off - 360		01-May-2005
341023545 1			194,404.20		194,259.93			15-Jun-2005		7.500%		NC - 94.93%		Paid Off - 360		01-May-2005
341023545 1					194,259.93			15-Jun-2005		7.500%		NC - 94.93%		Paid Off - 360		01-May-2005
341024235 1			234,650.00		234,533.36			10-Jun-2005		9.450%		NC - 94.95%		Paid Off - 360		01-Jun-2005
341024235 1					234,533.36			10-Jun-2005		9.450%		NC - 94.95%		Paid Off - 360		01-Jun-2005
371023434 1			82,952.83		82,828.14			13-Jun-2005		9.450%		FL - 82.83%		Paid Off - 360		01-Mar-2005
371023434 1					82,828.14			13-Jun-2005		9.450%		FL - 82.83%		Paid Off - 360		01-Mar-2005
371023985 1			118,400.00		118,216.54			31-May-2005		7.300%		FL - 79.88%		Paid Off - 360		01-Apr-2005
371023985 1					118,216.54			31-May-2005		7.300%		FL - 79.88%		Paid Off - 360		01-Apr-2005
381019720 2			400,000.00		399,348.77			19-May-2005		7.050%		RI - 79.87%		Paid Off - 360		01-Apr-2005
381019720 2					399,348.77			19-May-2005		7.050%		RI - 79.87%		Paid Off - 360		01-Apr-2005
511033847 1			81,000.00		80,962.21			03-May-2005		9.750%		ID - 89.96%		Paid Off - 360		01-May-2005
511033847 1					80,962.21			03-May-2005		9.750%		ID - 89.96%		Paid Off - 360		01-May-2005
511033854 1			176,000.00		175,684.40			09-Jun-2005		8.600%		OR - 76.55%		Paid Off - 360		01-Mar-2005
511033854 1					175,684.40			09-Jun-2005		8.600%		OR - 76.55%		Paid Off - 360		01-Mar-2005
521021779 1			269,000.00		268,449.37			06-Jun-2005		7.950%		CA - 67.45%		Paid Off - 360		01-Mar-2005
521021779 1					268,449.37			06-Jun-2005		7.950%		CA - 67.45%		Paid Off - 360		01-Mar-2005
561001454 1			163,875.00		163,580.55			23-May-2005		8.590%		FL - 94.83%		Paid Off - 360		01-Mar-2005
561001454 1					163,580.55			23-May-2005		8.590%		FL - 94.83%		Paid Off - 360		01-Mar-2005
561001547 1			164,000.00		163,738.22			02-Jun-2005		7.150%		FL - 72.77%		Paid Off - 360		01-Apr-2005
561001547 1					163,738.22			02-Jun-2005		7.150%		FL - 72.77%		Paid Off - 360		01-Apr-2005
611014415 1			257,250.00		256,485.20			13-May-2005		6.050%		NY - 74.78%		Paid Off - 360		01-Mar-2005
611014415 1					256,485.20			13-May-2005		6.050%		NY - 74.78%		Paid Off - 360		01-Mar-2005
611014492 1			215,000.00		213,488.76			06-Jun-2005		5.950%		NY - 67.77%		Paid Off - 240		01-Mar-2005
611014492 1					213,488.76			06-Jun-2005		5.950%		NY - 67.77%		Paid Off - 240		01-Mar-2005
611014603 1			243,000.00		242,638.19			14-Jun-2005		7.500%		MA - 74.89%		Paid Off - 360		01-Apr-2005
611014603 1					242,638.19			14-Jun-2005		7.500%		MA - 74.89%		Paid Off - 360		01-Apr-2005
611014903 1			116,000.00		115,808.91			26-May-2005		6.990%		MA - 79.87%		Paid Off - 360		01-Apr-2005
611014903 1					115,808.91			26-May-2005		6.990%		MA - 79.87%		Paid Off - 360		01-Apr-2005
621006390 1			136,348.75		136,094.02			04-May-2005		8.400%		FL - 94.82%		Paid Off - 360		01-Mar-2005
621006390 1					136,094.02			04-May-2005		8.400%		FL - 94.82%		Paid Off - 360		01-Mar-2005
631005067 1			130,000.00		129,733.89			14-Jun-2005		7.950%		CA - 61.78%		Paid Off - 360		01-Mar-2005
631005067 1					129,733.89			14-Jun-2005		7.950%		CA - 61.78%		Paid Off - 360		01-Mar-2005
631006328 1			318,750.00		318,361.65			04-May-2005		8.490%		CA - 73.19%		Paid Off - 360		01-Apr-2005
631006328 1					318,361.65			04-May-2005		8.490%		CA - 73.19%		Paid Off - 360		01-Apr-2005
631006455 2			388,000.00		387,781.35			26-May-2005		8.850%		CA - 79.95%		Paid Off - 360		01-May-2005
631006455 2					387,781.35			26-May-2005		8.850%		CA - 79.95%		Paid Off - 360		01-May-2005
651007531 2			156,000.00		155,469.06			13-Jun-2005		6.700%		FL - 79.73%		Paid Off - 360		01-Mar-2005
651007531 2					155,469.06			13-Jun-2005		6.700%		FL - 79.73%		Paid Off - 360		01-Mar-2005
661004853 1			245,000.00		244,472.46			18-May-2005		5.600%		CA - 69.85%		Paid Off - 360		01-Apr-2005
661004853 1					244,472.46			18-May-2005		5.600%		CA - 69.85%		Paid Off - 360		01-Apr-2005
661005520 2			417,280.00		417,280.00			05-May-2005		5.140%		CA - 80.00%		Paid Off - 360		01-May-2005
661005520 2					417,280.00			05-May-2005		5.140%		CA - 80.00%		Paid Off - 360		01-May-2005
671003006 1			132,000.00		131,864.52			10-Jun-2005		5.840%		CA - 61.33%		Paid Off - 360		01-May-2005
671003006 1					131,864.52			10-Jun-2005		5.840%		CA - 61.33%		Paid Off - 360		01-May-2005
681004151 1			322,500.00		321,530.17			11-May-2005		5.990%		ME - 74.77%		Paid Off - 360		01-Mar-2005
681004151 1					321,530.17			11-May-2005		5.990%		ME - 74.77%		Paid Off - 360		01-Mar-2005
681004957 1			134,725.00		134,651.25			09-Jun-2005		8.990%		ME - 84.95%		Paid Off - 360		01-May-2005
681004957 1					134,651.25			09-Jun-2005		8.990%		ME - 84.95%		Paid Off - 360		01-May-2005
691002782 1			140,250.00		140,053.38			03-Jun-2005		7.800%		DC - 84.88%		Paid Off - 360		01-Apr-2005
691002782 1					140,053.38			03-Jun-2005		7.800%		DC - 84.88%		Paid Off - 360		01-Apr-2005
691002901 2			360,000.00		359,699.04			14-Jun-2005		6.900%		MD - 74.94%		Paid Off - 360		01-May-2005
691002901 2					359,699.04			14-Jun-2005		6.900%		MD - 74.94%		Paid Off - 360		01-May-2005
711006188 1			220,000.00		219,655.40			31-May-2005		7.250%		MA - 79.87%		Paid Off - 360		01-Apr-2005
711006188 1					219,655.40			31-May-2005		7.250%		MA - 79.87%		Paid Off - 360		01-Apr-2005
721005958 1			83,200.00		83,006.02			09-Jun-2005		7.300%		AZ - 79.81%		Paid Off - 360		01-Mar-2005
721005958 1					83,006.02			09-Jun-2005		7.300%		AZ - 79.81%		Paid Off - 360		01-Mar-2005
731008679 1			94,400.00		94,202.83			16-May-2005		7.850%		MD - 79.83%		Paid Off - 360		01-Mar-2005
731008679 1					94,202.83					7.850%		MD - 79.83%		Paid Off - 360



Page 20 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution

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

761007356 1			138,750.00		137,661.40			11-May-2005		9.200%		IL - 72.45%		Paid Off - 180		01-Mar-2005
			138,750.00

761008002 1			107,250.00		107,080.45			09-May-2005		9.125%		IL - 64.90%		Paid Off - 360		01-Apr-2005
761008002 1					107,080.45			09-May-2005		9.125%		IL - 64.90%		Paid Off - 360		01-Apr-2005
781002338 2			463,500.00		463,500.00			02-May-2005		7.900%		NJ - 90.00%		Paid Off - 360		01-Apr-2005
781002338 2					463,500.00			02-May-2005		7.900%		NJ - 90.00%		Paid Off - 360		01-Apr-2005
831033404 1			231,000.00		230,115.91			08-Jun-2005		7.850%		CA - 69.73%		Paid Off - 360		01-Jan-2005
831033404 1					230,115.91			08-Jun-2005		7.850%		CA - 69.73%		Paid Off - 360		01-Jan-2005
831033409 2			504,000.00		503,000.00			04-May-2005		6.950%		CA - 89.82%		Paid Off - 360		01-Jan-2005
831033409 2					503,000.00			04-May-2005		6.950%		CA - 89.82%		Paid Off - 360		01-Jan-2005
831038517 2			412,000.00		412,000.00			06-Jun-2005		6.275%		CA - 69.83%		Paid Off - 360		01-Mar-2005
831038517 2					412,000.00			06-Jun-2005		6.275%		CA - 69.83%		Paid Off - 360		01-Mar-2005
831039001 2			142,000.00		141,856.76			24-May-2005		9.400%		CA - 73.49%		Paid Off - 360		01-Apr-2005
831039001 2					141,856.76			24-May-2005		9.400%		CA - 73.49%		Paid Off - 360		01-Apr-2005
851000335 1			243,000.00		242,207.00			05-May-2005		6.900%		NJ - 64.59%		Paid Off - 360		01-Mar-2005
851000335 1					242,207.00			05-May-2005		6.900%		NJ - 64.59%		Paid Off - 360		01-Mar-2005
871000391 1			224,000.00		223,778.77			01-Jun-2005		9.500%		NJ - 79.92%		Paid Off - 360		01-Apr-2005
871000391 1					223,778.77			01-Jun-2005		9.500%		NJ - 79.92%		Paid Off - 360		01-Apr-2005
871000724 1			247,000.00		246,667.43			02-Jun-2005		8.000%		NJ - 94.51%		Paid Off - 360		01-May-2005
871000724 1					246,667.43			02-Jun-2005		8.000%		NJ - 94.51%		Paid Off - 360		01-May-2005


TOTAL			17,553,047.78		17,524,392.39
TOTAL


Page 21 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 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 22 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
										Group 2		Group 1		Total
						Trigger Event in effect (0=No , 1=Yes)								0
						Stepdown Date has occurred (0 = No, 1=Yes)								0
						Delinquency Percentage								0.000000%
						Ending Balance								1,481,693,291.03
						Credit Enhancement Percentage (For Trigger)								15.8000%
						Credit Enhancement Percentage (For Step Down)								13.3000%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

SPACE INTENTIONALLY LEFT BLANK




Page 23 of 24
Soundview Home Equity Loan Trust 2005-OPT1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-OPT1

June 27, 2005 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT


CLASS







Page 24 of 24

Soundview Home Loan Trust 2005-OPT1 8-K