UNITED STATES SECURITIES AND EXCHANGE COMMISSION ~~WASHINGTON~~ Washington, DCD.C. 20549 ~~----------~~ FORM 8-K ~~CURRENT~~ ~~REPORT PURSUANT~~Current TOReport ~~SECTION~~Pursuant To Section 13 ORor 15(d) OFof ~~THE SECURITIES~~the ~~EXCHANGE~~Securities ~~ACT~~Exchange OFAct of 1934 Date of ~~report~~Report (Date of earliest event reported): August 25, 2005 (Date of earliest event reported) Asset Backed Funding Corporation (as Depositor under the Pooling and Servicing Agreement, dated as June 211, 2004, providing for the issuance of ABFC 2005 ~~ASSET~~-AQ1 ~~BACKED~~Trust ~~FUNDING~~Asset-Backed ~~CORPORATION~~ Certificates, Series 2004-AQ1) (Exact ~~Name~~name of ~~Registrant~~registrant as ~~Specified~~specified in ~~Charter~~charter) ~~Delaware 333-121564 75-2533468~~ DELAWARE (State or Other Jurisdiction of Incorporation) 333-121564-05 75-2533468 (Commission File Number) (I.R.S. Employer ~~Incorporation) File~~ ~~Number)~~ Identification No.) 214 North Tryon Street, Charlotte, North Carolina 28255 (Address of ~~Principal~~principal ~~Executive~~executive ~~Offices~~offices) (Zip Code) Registrant's ~~telephone~~Telephone ~~number~~Number, ~~including~~Including ~~area~~Area ~~code~~Code: (704) 386-2400 ~~N/A~~ (Former ~~Name~~name or ~~Former~~former ~~Address~~address, if ~~Change~~changed ~~Since~~since ~~Last~~last ~~Report:~~report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing ~~obligations~~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)) ~~Section~~ ~~9 - Financial Statements and Exhibits~~ Item 98.01 ~~(c).~~Other ~~Exhibits (c) Exhibits~~Events ~~(executed~~Attached ~~copies):~~hereto ~~The~~is ~~following~~a ~~execution~~copy ~~copies~~ of ~~Exhibits~~ the Monthly Remittance Statements to the ~~Form~~Certificateholders ~~S-3~~which ~~Registration~~was ~~Statement~~derived offrom the ~~Registrant~~monthly ~~are~~information ~~hereby filed: 4.1~~submitted ~~Pooling~~by ~~and~~the ~~Servicing~~Master ~~Agreement,~~Servicer ~~dated~~of asthe ofTrust ~~June~~to 1,the ~~2005,~~Trustee. byItem 9.01 Financial Statements and ~~among~~ ~~Asset~~Exhibits ~~Backed~~(c) ~~Funding~~Exhibits: ~~Corporation,~~Exhibit ~~Ameriquest~~No. ~~Mortgage~~Description ~~Company and~~99.1 ~~Deutsche~~Monthly ~~Bank~~Remittance ~~National~~Statement ~~Trust~~to ~~Company~~the ~~(including~~Certificateholders ~~exhibits). Signature~~dated ~~page~~as toof ~~follow SIGNATURES~~ August 25, 2005. Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the ~~registrant~~Registrant has duly caused this ~~Report~~report to be signed on its behalf by the undersigned, hereunto duly authorized. ~~ASSET~~ ~~BACKED~~Deutsche ~~FUNDING CORPORATION By:~~Bank ~~/s/~~National ~~Kirk~~Trust B.Company, ~~Meyers ----------------------------------- Name:~~in ~~Kirk~~its B.capacity ~~Meyers Title:~~as ~~Vice~~Trustee ~~President Date:~~under ~~June~~the ~~21,~~Pooling ~~2005 ASSET~~and ~~BACKED~~Servicing ~~FUNDING~~Agreement ~~CORPORATION EXHIBIT~~on ~~INDEX Paper~~behalf ~~(P)~~of ~~or Exhibit~~Asset ~~No. Exhibit~~Backed ~~Description Electronic~~Funding ~~(E) ----------- ------------------- -------------- 4.1 Pooling~~Corporation, ~~and~~Registrant ~~Servicing~~Date: ~~Agreement~~Aug 26, ~~dated~~2005 asBy: of/s/ ~~June E 1,~~Katherine ~~2005,~~M. byWannenmacher ~~and~~Katherine ~~among~~M. ~~Asset~~Wannenmacher ~~Backed~~Vice ~~Funding Corporation,~~President ~~Ameriquest~~EXHIBIT ~~Mortgage~~INDEX ~~Company~~DOCUMENT ~~and Deutsche~~99.1 ~~Bank~~Monthly ~~National~~Remittance ~~Trust~~Statement ~~Company~~to ~~(including exhibits)~~the Certificateholders dated as of August 25, 2005.



ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				Bank of America						1. Certificate Payment Report					2
				Bank of America						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					11

										7. Foreclosure Report					12
										8. Prepayment Report					13
										9. Prepayment Detail Report					16
										9. Prepayment Detail Report					16
										10. Realized Loss Report					18
										11. Realized Loss Detail Report					21
				Servicer(s)						11. Realized Loss Detail Report					21
				Servicer(s)						12. Triggers and Adj. Cert. Report					22
				Ameriquest Mortgage Corp						12. Triggers and Adj. Cert. Report					22
				Ameriquest Mortgage Corp						13. Additional Certificate Report					23
										13. Additional Certificate Report					23


				Underwriter(s)
				Banc of America Securities LLC


										Total Number of Pages					23
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			June 01, 2005			Hang Luu
				Close Date:			June 07, 2005			Administrator
				First Distribution Date:			July 25, 2005			(714) 247-6000
										hang-thai.luu@db.com
										hang-thai.luu@db.com
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			August 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			July 29, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							August 24, 2005
							August 24, 2005

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






Page 1 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution - REMIC II
					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)

A-1A	SR	$	103,638,000.00		99,513,126.53		306,776.86		5,568,465.34		5,875,242.20		0.00		0.00		93,944,661.19
A-1A	SR	$	103,638,000.00		99,513,126.53		306,776.86		5,568,465.34		5,875,242.20		0.00		0.00		93,944,661.19
A-1B	SR	$	100,000,000.00		96,019,921.78		340,070.56		5,372,995.75		5,713,066.31		0.00		0.00		90,646,926.03
A-2	SR	$	206,669,000.00		206,669,000.00		740,563.92		0.00		740,563.92		0.00		0.00		206,669,000.00
A-3	SR	$	42,406,000.00		42,406,000.00		156,195.43		0.00		156,195.43		0.00		0.00		42,406,000.00
A-4	SR	$	165,805,000.00		165,805,000.00		692,235.88		0.00		692,235.88		0.00		0.00		165,805,000.00
A-5	SR	$	52,291,000.00		52,291,000.00		231,823.43		0.00		231,823.43		0.00		0.00		52,291,000.00
A-6	SR	$	74,534,000.00		74,534,000.00		296,893.77		0.00		296,893.77		0.00		0.00		74,534,000.00
M-1	SUB	$	36,818,000.00		36,818,000.00		160,771.93		0.00		160,771.93		0.00		0.00		36,818,000.00
M-2	SUB	$	13,499,000.00		13,499,000.00		61,195.47		0.00		61,195.47		0.00		0.00		13,499,000.00
M-3	SUB	$	3,273,000.00		3,273,000.00		15,655.85		0.00		15,655.85		0.00		0.00		3,273,000.00
M-4	SUB	$	2,863,000.00		2,863,000.00		13,718.54		0.00		13,718.54		0.00		0.00		2,863,000.00
M-5	SUB	$	2,864,000.00		2,864,000.00		13,723.33		0.00		13,723.33		0.00		0.00		2,864,000.00
M-6	SUB	$	3,273,000.00		3,273,000.00		15,683.13		0.00		15,683.13		0.00		0.00		3,273,000.00
B-1	SUB/NOF	$	3,272,000.00		3,272,000.00		15,678.33		0.00		15,678.33		0.00		0.00		3,272,000.00
B-2	SUB/NOF	$	3,682,000.00		3,682,000.00		17,642.92		0.00		17,642.92		0.00		0.00		3,682,000.00
CE	SEQ/NOF	$	3,273,065.83		3,272,640.66		1,241,122.35		0.00		1,241,122.35		0.00		0.00		3,272,640.66
P	SEQ/NOF	$	100.00		100.00		177,286.83		0.00		177,286.83		0.00		0.00		100.00
R	RES/NPR	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			818,160,165.83		810,054,788.97		4,497,038.53		10,941,461.09		15,438,499.62		0.00		0.00		799,113,327.88
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)
A-1A	07/25/05		08/24/05		F-Act/360		04542BMP4		103,638,000.00		960.199218		2.960081		53.729958		56.690038	906.469260
A-1B	07/01/05		07/30/05		A-30/360		04542BNB4		100,000,000.00		960.199218		3.400706		53.729958		57.130663	906.469260
A-2	07/01/05		07/30/05		A-30/360		04542BMQ2		206,669,000.00		1,000.000000		3.583333		0.000000		3.583333	1,000.000000
A-3	07/01/05		07/30/05		A-30/360		04542BMR0		42,406,000.00		1,000.000000		3.683333		0.000000		3.683333	1,000.000000
A-4	07/01/05		07/30/05		A-30/360		04542BMS8		165,805,000.00		1,000.000000		4.175000		0.000000		4.175000	1,000.000000
A-5	07/01/05		07/30/05		A-30/360		04542BMT6		52,291,000.00		1,000.000000		4.433333		0.000000		4.433333	1,000.000000
A-6	07/01/05		07/30/05		A-30/360		04542BMU3		74,534,000.00		1,000.000000		3.983333		0.000000		3.983333	1,000.000000
M-1	07/01/05		07/30/05		A-30/360		04542BMV1		36,818,000.00		1,000.000000		4.366667		0.000000		4.366667	1,000.000000
M-2	07/01/05		07/30/05		A-30/360		04542BMW9		13,499,000.00		1,000.000000		4.533334		0.000000		4.533334	1,000.000000
M-3	07/01/05		07/30/05		A-30/360		04542BMX7		3,273,000.00		1,000.000000		4.783333		0.000000		4.783333	1,000.000000
M-4	07/01/05		07/30/05		A-30/360		04542BMY5		2,863,000.00		1,000.000000		4.791666		0.000000		4.791666	1,000.000000
M-5	07/01/05		07/30/05		A-30/360		04542BMZ2		2,864,000.00		1,000.000000		4.791666		0.000000		4.791666	1,000.000000
M-6	07/01/05		07/30/05		A-30/360		04542BNA6		3,273,000.00		1,000.000000		4.791668		0.000000		4.791668	1,000.000000
B-1	07/01/05		07/30/05		A-30/360		04542BMM1		3,272,000.00		1,000.000000		4.791666		0.000000		4.791666	1,000.000000
B-2	07/01/05		07/30/05		A-30/360		04542BMN9		3,682,000.00		1,000.000000		4.791668		0.000000		4.791668	1,000.000000
CE	07/01/05		07/30/05		A-30/360				3,273,065.83		999.870100		379.192602		0.000000		379.192602	999.870100
P	07/01/05		07/30/05		A-30/360				100.00		1,000.000000		1,772,868.300000		0.000000		1,772,868.300000	1,000.000000
R	07/01/05		07/30/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution

Distribution to Date - REMIC II
																	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)
A-1A	103,638,000.00		760,020.38		8,744,756.96		948,581.85		9,693,338.81		10,453,359.19		0.00		0.00		93,944,661.19
A-1B	100,000,000.00		694,237.23		8,437,790.15		915,283.82		9,353,073.97		10,047,311.20		0.00		0.00		90,646,926.03
A-2	206,669,000.00		1,481,127.84		0.00		0.00		0.00		1,481,127.84		0.00		0.00		206,669,000.00
A-3	42,406,000.00		312,390.86		0.00		0.00		0.00		312,390.86		0.00		0.00		42,406,000.00
A-4	165,805,000.00		1,384,471.76		0.00		0.00		0.00		1,384,471.76		0.00		0.00		165,805,000.00
A-5	52,291,000.00		463,646.86		0.00		0.00		0.00		463,646.86		0.00		0.00		52,291,000.00
A-6	74,534,000.00		593,787.54		0.00		0.00		0.00		593,787.54		0.00		0.00		74,534,000.00
M-1	36,818,000.00		321,543.86		0.00		0.00		0.00		321,543.86		0.00		0.00		36,818,000.00
M-2	13,499,000.00		122,390.94		0.00		0.00		0.00		122,390.94		0.00		0.00		13,499,000.00
M-3	3,273,000.00		31,311.70		0.00		0.00		0.00		31,311.70		0.00		0.00		3,273,000.00
M-4	2,863,000.00		27,437.08		0.00		0.00		0.00		27,437.08		0.00		0.00		2,863,000.00
M-5	2,864,000.00		27,446.66		0.00		0.00		0.00		27,446.66		0.00		0.00		2,864,000.00
M-6	3,273,000.00		31,366.26		0.00		0.00		0.00		31,366.26		0.00		0.00		3,273,000.00
B-1	3,272,000.00		31,356.66		0.00		0.00		0.00		31,356.66		0.00		0.00		3,272,000.00
B-2	3,682,000.00		35,285.84		0.00		0.00		0.00		35,285.84		0.00		0.00		3,682,000.00
CE	3,273,065.83		2,367,994.10		376.15		49.02		425.17		2,368,419.27		0.00		0.00		3,272,640.66
P	100.00		277,736.00		0.00		0.00		0.00		277,736.00		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	818,160,165.83		8,963,551.57		17,182,923.26		1,863,914.69		19,046,837.95		28,010,389.52		0.00		0.00		799,113,327.88


Interest Detail - REMIC II
	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)
A-1A	3.58000%		99,513,126.53		306,776.86		0.00		0.00		0.00		306,776.86		306,776.86		0.00
A-1B	4.25000%		96,019,921.78		340,070.56		0.00		0.00		0.00		340,070.56		340,070.56		0.00
A-2	4.30000%		206,669,000.00		740,563.92		0.00		0.00		0.00		740,563.92		740,563.92		0.00
A-3	4.42000%		42,406,000.00		156,195.43		0.00		0.00		0.00		156,195.43		156,195.43		0.00
A-4	5.01000%		165,805,000.00		692,235.88		0.00		0.00		0.00		692,235.88		692,235.88		0.00
A-5	5.32000%		52,291,000.00		231,823.43		0.00		0.00		0.00		231,823.43		231,823.43		0.00
A-6	4.78000%		74,534,000.00		296,893.77		0.00		0.00		0.00		296,893.77		296,893.77		0.00
M-1	5.24000%		36,818,000.00		160,771.93		0.00		0.00		0.00		160,771.93		160,771.93		0.00
M-2	5.44000%		13,499,000.00		61,195.47		0.00		0.00		0.00		61,195.47		61,195.47		0.00
M-3	5.74000%		3,273,000.00		15,655.85		0.00		0.00		0.00		15,655.85		15,655.85		0.00
M-4	5.75000%		2,863,000.00		13,718.54		0.00		0.00		0.00		13,718.54		13,718.54		0.00
M-5	5.75000%		2,864,000.00		13,723.33		0.00		0.00		0.00		13,723.33		13,723.33		0.00
M-6	5.75000%		3,273,000.00		15,683.13		0.00		0.00		0.00		15,683.13		15,683.13		0.00
B-1	5.75000%		3,272,000.00		15,678.33		0.00		0.00		0.00		15,678.33		15,678.33		0.00
B-2	5.75000%		3,682,000.00		17,642.92		0.00		0.00		0.00		17,642.92		17,642.92		0.00
CE	0.00000%		3,272,640.66		0.00		0.00		0.00		0.00		0.00		1,241,122.35		0.00
P	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		177,286.83		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			810,054,788.97		3,078,629.35		0.00		0.00		0.00		3,078,629.35		4,497,038.53		0.00



Page 3 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
														Total
Principal Collections														10,941,461.09
Principal Withrawals														0.00
Principal Other Accounts														0.00
TOTAL NET PRINCIPAL														10,941,461.09
Interest Collections														4,585,860.81
Interest Withdrawals														-0.00
Interest Other Accounts														177,286.83
Interest Fees														-266,109.11
TOTAL NET INTEREST														4,497,038.53
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION														15,438,499.62



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
															Total
Scheduled Principal Received															929,441.84
Curtailments															138,768.87
Prepayments In Full															9,873,250.38
Repurchased/Substitutions															0.00
Liquidations															0.00
Other Additional Principal															0.00
Delinquent Principal															-191,229.55
Realized Losses															-0.00
Advanced Principal															191,229.55
TOTAL PRINCIPAL COLLECTED															10,941,461.09


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
														Total
TOTAL PRINCIPAL OTHER ACCOUNTS														0.00





Page 4 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
														Total
Scheduled Interest														4,658,962.14
Repurchased/Substitution Interest														0.00
Liquidation Interest														0.00
Other Additional Interest														0.00
Prepayment Interest Shortfalls														-7,398.42
Delinquent Interest														-1,028,876.92
Compensating Interest														7,398.42
Civil Relief Act Shortfalls														-0.00
Interest Advanced														955,775.58
TOTAL INTEREST COLLECTED														4,585,860.81


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
														Total
TOTAL INTEREST WITHDRAWALS														0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
														Total
Prepayment Charges														177,286.83
TOTAL INTEREST OTHER ACCOUNTS														177,286.83



INTEREST - FEES
INTEREST - FEES
														Total
Current Servicing Fees														264,421.50
Trustee FEES														1,687.61
TOTAL INTEREST FEES														266,109.11




Page 5 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS


SPACE INTENTIONALLY LEFT BLANK





INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES

														Total
Overcollateralization Amount														3,272,640.66
Overcollateralization Target Amount														3,272,640.66
Overcollateralization Deficiency Amount														0.00
Overcollateralization Release Amount														0.00



Page 6 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution
Collateral Report


COLLATERAL



															Total



Loan Count:


Original														4,813
Prior														4,774
Prefunding														0
Scheduled Paid Offs														-0
Full Voluntary Prepayments														-56
Repurchases														-0
Liquidations														-0
Current														4,718
Principal Balance:


Original														818,160,165.83
Prior														810,054,788.97
Prefunding														0.00
Scheduled Principal														-929,441.84
Partial Prepayments														-138,768.87
Full Voluntary Prepayments														-9,873,250.38
Repurchases														-0.00
Liquidations														-0.00
Current														799,113,327.88





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
														Total
Weighted Average Coupon Original														6.90623%
Weighted Average Coupon Prior														6.90623%
Weighted Average Coupon Current														6.90170%
Weighted Average Months to Maturity Original														333
Weighted Average Months to Maturity Prior														333
Weighted Average Months to Maturity Current														332
Weighted Avg Remaining Amortization Term Original														333
Weighted Avg Remaining Amortization Term Prior														333
Weighted Avg Remaining Amortization Term Current														332
Weighted Average Seasoning Original														3.55
Weighted Average Seasoning Prior														3.55
Weighted Average Seasoning Current														4.55









Page 8 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
														Total
Weighted Average Margin Original														0.00000%
Weighted Average Margin Prior														0.00000%
Weighted Average Margin Current														0.00000%
Weighted Average Max Rate Original														0.00000%
Weighted Average Max Rate Prior														0.00000%
Weighted Average Max Rate Current														0.00000%
Weighted Average Min Rate Original														0.00000%
Weighted Average Min Rate Prior														0.00000%
Weighted Average Min Rate Current														0.00000%
Weighted Average Cap Up Original														0.00000%
Weighted Average Cap Up Prior														0.00000%
Weighted Average Cap Up Current														0.00000%
Weighted Average Cap Down Original														0.00000%
Weighted Average Cap Down Prior														0.00000%
Weighted Average Cap Down Current														0.00000%




SERVICING FEES & ADVANCES

															Total




Current Servicing Fees														264,421.50
Delinquent Servicing Fees														73,101.33
TOTAL SERVICING FEES														337,522.84


Servicing Fees														337,522.84
Compensating Interest														-7,398.42
Delinquent Servicing Fees														-73,101.33
COLLECTED SERVICING FEES														257,023.09


Total Advanced Interest														955,775.58
Total Advanced Principal														191,229.55
Aggregate Advances with respect to this Distribution														0.00





ADDITIONAL COLLATERAL INFORMATION
														Total
Prepayment Interest Shortfall (PPIS)														7,398.42
Compensating Interest														-7,398.42
Net Prepayment Interest Shortfall (PPIS)														0.00

Libor For Current Period														3.4600%

Libor For Next Period														0.0000%




Page 9 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				111,542.27		301,369.24		0.00		412,911.51
			% Balance				0.01%		0.04%		0.00%		0.05%
			# Loans				1		4		0		5
			% # Loans				0.02%		0.08%		0.00%		0.11%
	FORECLOSURE		Balance		0.00		0.00		61,094.87		0.00		61,094.87
			% Balance		0.00%		0.00%		0.01%		0.00%		0.01%
			# Loans		0		0		1		0		1
			% # Loans		0.00%		0.00%		0.02%		0.00%		0.02%
	BANKRUPTCY		Balance		240,870.98		0.00		0.00		0.00		240,870.98
			% Balance		0.03%		0.00%		0.00%		0.00%		0.03%
			# Loans		2		0		0		0		2
			% # Loans		0.04%		0.00%		0.00%		0.00%		0.04%
	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		240,870.98		111,542.27		362,464.11		0.00		714,877.36
			% Balance		0.03%		0.01%		0.05%		0.00%		0.09%
			# Loans		2		1		5		0		8
			% # Loans		0.04%		0.02%		0.11%		0.00%		0.17%









Page 10 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 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 11 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 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
110977907 1
110977907 1			61,147.88		61,094.87		01-Apr-2005		10.200%		FL - 90.00%		360		01-May-2005



TOTAL			61,147.88		61,094.87


Page 12 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

															Total




Current


Number of Paid in Full Loans														56
Number of Repurchased Loans														0
Total Number of Loans Prepaid in Full														56
Curtailments Amount														138,768.87
Paid in Full Balance														9,873,250.38
Repurchased Loans Balance														0.00
Total Prepayment Amount														10,012,019.25

Cumulative


Number of Paid in Full Loans														94
Number of Repurchased Loans														1
Total Number of Loans Prepaid in Full														95
Paid in Full Balance														16,759,822.06
Repurchased Loans Balance														125,305.41
Curtailments Amount														297,795.79
Total Prepayment Amount														17,182,923.26










Page 13 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

															Total



SMM														1.24%
3 Months Avg SMM														1.06%
12 Months Avg SMM														1.06%
Avg SMM Since Cut-off														1.06%


CPR														13.88%
3 Months Avg CPR														11.98%
12 Months Avg CPR														11.98%
Avg CPR Since Cut-off														11.98%


PSA														1,525.34%
3 Months Avg PSA Approximation														1,478.76%
12 Months Avg PSA Approximation														1,478.76%
Avg PSA Since Cut-off Approximation														1,478.76%










Page 14 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 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 15 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 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

101175503 1			65,836.77		65,803.34			03-Aug-2005		9.550%		KS - 87.34%		Paid Off - 360		01-Feb-2005
			65,836.77

101338861 1			483,564.29		483,113.11			01-Aug-2005		6.500%		MD - 80.00%		Paid Off - 360		01-Feb-2005
101338861 1					483,113.11			01-Aug-2005		6.500%		MD - 80.00%		Paid Off - 360		01-Feb-2005
101893329 1			245,653.42		245,480.72			28-Jul-2005		7.950%		IL - 84.77%		Paid Off - 360		01-Feb-2005
101893329 1					245,480.72			28-Jul-2005		7.950%		IL - 84.77%		Paid Off - 360		01-Feb-2005
107608549 1			132,743.80		132,657.22			18-Jul-2005		8.250%		NJ - 70.52%		Paid Off - 360		01-Apr-2005
107608549 1					132,657.22			18-Jul-2005		8.250%		NJ - 70.52%		Paid Off - 360		01-Apr-2005
107626442 1			72,760.25		72,511.05			03-Aug-2005		6.350%		PA - 51.09%		Paid Off - 180		01-Apr-2005
107626442 1					72,511.05			03-Aug-2005		6.350%		PA - 51.09%		Paid Off - 180		01-Apr-2005
107732646 1			170,635.57		170,512.52			14-Jul-2005		7.750%		AZ - 90.00%		Paid Off - 360		01-Apr-2005
107732646 1					170,512.52			14-Jul-2005		7.750%		AZ - 90.00%		Paid Off - 360		01-Apr-2005
107967945 1			92,413.86		91,878.44			10-Aug-2005		7.600%		FL - 78.33%		Paid Off - 120		01-Apr-2005
107967945 1					91,878.44			10-Aug-2005		7.600%		FL - 78.33%		Paid Off - 120		01-Apr-2005
108005703 1			117,928.61		117,519.68			22-Jul-2005		7.850%		FL - 76.31%		Paid Off - 180		01-Apr-2005
108005703 1					117,519.68			22-Jul-2005		7.850%		FL - 76.31%		Paid Off - 180		01-Apr-2005
108059981 1			74,879.54		74,718.54			03-Aug-2005		6.250%		PA - 60.83%		Paid Off - 240		01-Apr-2005
108059981 1					74,718.54			03-Aug-2005		6.250%		PA - 60.83%		Paid Off - 240		01-Apr-2005
108096041 1			153,384.29		153,222.84			02-Aug-2005		5.800%		MN - 63.74%		Paid Off - 360		01-Apr-2005
108096041 1					153,222.84			02-Aug-2005		5.800%		MN - 63.74%		Paid Off - 360		01-Apr-2005
108236001 1			183,611.77		183,480.68			30-Jul-2005		7.800%		MD - 61.23%		Paid Off - 360		01-Apr-2005
108236001 1					183,480.68			30-Jul-2005		7.800%		MD - 61.23%		Paid Off - 360		01-Apr-2005
108257783 1			70,356.83		70,308.47			19-Jul-2005		7.990%		NY - 48.64%		Paid Off - 360		01-Apr-2005
108257783 1					70,308.47			19-Jul-2005		7.990%		NY - 48.64%		Paid Off - 360		01-Apr-2005
108290149 1			248,299.19		248,063.74			03-Aug-2005		6.350%		FL - 77.67%		Paid Off - 360		01-Apr-2005
108290149 1					248,063.74			03-Aug-2005		6.350%		FL - 77.67%		Paid Off - 360		01-Apr-2005
108332628 1			59,900.71		59,867.12			01-Aug-2005		8.990%		MD - 45.61%		Paid Off - 360		01-Apr-2005
108332628 1					59,867.12			01-Aug-2005		8.990%		MD - 45.61%		Paid Off - 360		01-Apr-2005
108353707 1			65,802.88		65,757.79			08-Aug-2005		8.150%		NY - 85.00%		Paid Off - 360		01-Apr-2005
108353707 1					65,757.79			08-Aug-2005		8.150%		NY - 85.00%		Paid Off - 360		01-Apr-2005
108373242 1			256,278.62		256,034.76			20-Jul-2005		6.350%		IL - 58.75%		Paid Off - 360		01-Apr-2005
108373242 1					256,034.76			20-Jul-2005		6.350%		IL - 58.75%		Paid Off - 360		01-Apr-2005
108470402 1			185,447.82		185,278.60			09-Aug-2005		6.550%		CA - 49.57%		Paid Off - 360		01-Apr-2005
108470402 1					185,278.60			09-Aug-2005		6.550%		CA - 49.57%		Paid Off - 360		01-Apr-2005
108911348 1			82,995.77		82,535.32			03-Aug-2005		8.400%		OH - 90.00%		Paid Off - 120		01-Apr-2005
108911348 1					82,535.32			03-Aug-2005		8.400%		OH - 90.00%		Paid Off - 120		01-Apr-2005
108989203 1			259,912.96		259,719.75			12-Jul-2005		7.600%		MD - 70.98%		Paid Off - 360		01-Apr-2005
108989203 1					259,719.75			12-Jul-2005		7.600%		MD - 70.98%		Paid Off - 360		01-Apr-2005
108996521 1			229,348.17		229,128.61			26-Jul-2005		6.300%		CA - 54.45%		Paid Off - 360		01-Apr-2005
108996521 1					229,128.61			26-Jul-2005		6.300%		CA - 54.45%		Paid Off - 360		01-Apr-2005
109240168 1			89,278.18		89,203.38			20-Jul-2005		6.990%		KS - 50.80%		Paid Off - 360		01-Apr-2005
109240168 1					89,203.38			20-Jul-2005		6.990%		KS - 50.80%		Paid Off - 360		01-Apr-2005
109331561 1			143,982.82		143,842.32			11-Jul-2005		6.200%		NV - 79.90%		Paid Off - 360		01-Apr-2005
109331561 1					143,842.32			11-Jul-2005		6.200%		NV - 79.90%		Paid Off - 360		01-Apr-2005
109666420 1			71,832.44		71,773.92			04-Aug-2005		7.400%		WI - 78.69%		Paid Off - 360		01-Apr-2005
109666420 1					71,773.92			04-Aug-2005		7.400%		WI - 78.69%		Paid Off - 360		01-Apr-2005
109727503 1			176,595.45		176,458.94			08-Aug-2005		7.400%		CA - 75.03%		Paid Off - 360		01-Apr-2005
109727503 1					176,458.94			08-Aug-2005		7.400%		CA - 75.03%		Paid Off - 360		01-Apr-2005
109733428 1			176,595.45		176,458.94			10-Aug-2005		7.400%		CA - 75.38%		Paid Off - 360		01-Apr-2005
109733428 1					176,458.94			10-Aug-2005		7.400%		CA - 75.38%		Paid Off - 360		01-Apr-2005
109806760 1			329,238.27		328,981.24			05-Aug-2005		7.350%		CA - 57.74%		Paid Off - 360		01-Apr-2005
109806760 1					328,981.24			05-Aug-2005		7.350%		CA - 57.74%		Paid Off - 360		01-Apr-2005
109831800 1			89,044.61		88,985.35			19-Jul-2005		8.150%		MD - 90.00%		Paid Off - 360		01-Apr-2005
109831800 1					88,985.35			19-Jul-2005		8.150%		MD - 90.00%		Paid Off - 360		01-Apr-2005
109881128 1			146,853.28		146,779.05			02-Aug-2005		9.450%		CT - 73.50%		Paid Off - 360		01-May-2005
109881128 1					146,779.05			02-Aug-2005		9.450%		CT - 73.50%		Paid Off - 360		01-May-2005
109918326 1			168,486.19		168,354.66			15-Jul-2005		7.350%		NJ - 84.44%		Paid Off - 360		01-Apr-2005
109918326 1					168,354.66			15-Jul-2005		7.350%		NJ - 84.44%		Paid Off - 360		01-Apr-2005
109925701 1			133,740.10		133,609.15			05-Aug-2005		6.150%		MD - 63.33%		Paid Off - 360		01-May-2005
109925701 1					133,609.15			05-Aug-2005		6.150%		MD - 63.33%		Paid Off - 360		01-May-2005
110077369 1			82,134.27		81,949.30			15-Jul-2005		10.990%		TX - 75.00%		Paid Off - 180		01-May-2005
110077369 1					81,949.30			15-Jul-2005		10.990%		TX - 75.00%		Paid Off - 180		01-May-2005
110151826 1			165,154.41		165,014.95			27-Jul-2005		6.950%		HI - 89.61%		Paid Off - 360		01-Apr-2005
110151826 1					165,014.95			27-Jul-2005		6.950%		HI - 89.61%		Paid Off - 360		01-Apr-2005
110157740 1			308,348.08		308,125.30			03-Aug-2005		7.800%		HI - 78.23%		Paid Off - 360		01-Apr-2005
110157740 1					308,125.30			03-Aug-2005		7.800%		HI - 78.23%		Paid Off - 360		01-Apr-2005
110516960 1			558,954.87		558,428.15			28-Jul-2005		6.350%		CA - 80.00%		Paid Off - 360		01-May-2005
110516960 1					558,428.15			28-Jul-2005		6.350%		CA - 80.00%		Paid Off - 360		01-May-2005
110893427 1			117,894.92		117,841.73			26-Jul-2005		9.990%		WI - 72.39%		Paid Off - 360		01-May-2005
110893427 1					117,841.73			26-Jul-2005		9.990%		WI - 72.39%		Paid Off - 360		01-May-2005
110900941 1			134,006.32		133,912.54			13-Jul-2005		7.900%		FL - 55.42%		Paid Off - 360		01-Apr-2005
110900941 1					133,912.54			13-Jul-2005		7.900%		FL - 55.42%		Paid Off - 360		01-Apr-2005
111205563 1			158,198.42		158,046.45			21-Jul-2005		6.250%		MA - 76.12%		Paid Off - 360		01-May-2005
111205563 1					158,046.45					6.250%		MA - 76.12%		Paid Off - 360


Page 16 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 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

111251781 1			172,287.09		172,129.36			10-Aug-2005		6.500%		FL - 87.48%		Paid Off - 360		01-May-2005
			172,287.09

111338380 1			370,970.21		370,699.25			08-Aug-2005		7.650%		CA - 78.88%		Paid Off - 360		01-May-2005
111338380 1					370,699.25			08-Aug-2005		7.650%		CA - 78.88%		Paid Off - 360		01-May-2005
111339842 1			275,963.71		275,693.50			28-Jul-2005		6.150%		CA - 44.55%		Paid Off - 360		01-May-2005
111339842 1					275,693.50			28-Jul-2005		6.150%		CA - 44.55%		Paid Off - 360		01-May-2005
111467023 1			211,783.90		211,674.59			28-Jul-2005		9.350%		CA - 73.10%		Paid Off - 360		01-May-2005
111467023 1					211,674.59			28-Jul-2005		9.350%		CA - 73.10%		Paid Off - 360		01-May-2005
111573929 1			214,540.07		213,860.96			01-Aug-2005		7.350%		WA - 83.98%		Paid Off - 180		01-May-2005
111573929 1					213,860.96			01-Aug-2005		7.350%		WA - 83.98%		Paid Off - 180		01-May-2005
111980009 1			120,272.92		120,158.48			10-Aug-2005		6.300%		AZ - 86.38%		Paid Off - 360		01-May-2005
111980009 1					120,158.48			10-Aug-2005		6.300%		AZ - 86.38%		Paid Off - 360		01-May-2005
112356340 1			154,586.32		154,070.27			29-Jul-2005		6.550%		CT - 90.00%		Paid Off - 180		01-May-2005
112356340 1					154,070.27			29-Jul-2005		6.550%		CT - 90.00%		Paid Off - 180		01-May-2005
112411061 1			103,811.43		103,716.38			05-Aug-2005		6.500%		FL - 72.14%		Paid Off - 360		01-May-2005
112411061 1					103,716.38			05-Aug-2005		6.500%		FL - 72.14%		Paid Off - 360		01-May-2005
112719208 1			61,561.52		61,478.76			28-Jul-2005		9.990%		FL - 75.00%		Paid Off - 240		01-May-2005
112719208 1					61,478.76			28-Jul-2005		9.990%		FL - 75.00%		Paid Off - 240		01-May-2005
112846266 1			313,956.63		312,926.32			10-Aug-2005		6.750%		MD - 89.80%		Paid Off - 180		01-May-2005
112846266 1					312,926.32			10-Aug-2005		6.750%		MD - 89.80%		Paid Off - 180		01-May-2005
113075220 1			70,306.16		70,258.77			01-Aug-2005		8.050%		AL - 80.00%		Paid Off - 360		01-May-2005
113075220 1					70,258.77			01-Aug-2005		8.050%		AL - 80.00%		Paid Off - 360		01-May-2005
113378566 1			348,420.51		348,128.25			09-Aug-2005		6.950%		FL - 89.88%		Paid Off - 360		01-May-2005
113378566 1					348,128.25			09-Aug-2005		6.950%		FL - 89.88%		Paid Off - 360		01-May-2005
113947600 1			301,740.09		301,488.96			10-Aug-2005		6.990%		CA - 87.00%		Paid Off - 360		01-May-2005
113947600 1					301,488.96			10-Aug-2005		6.990%		CA - 87.00%		Paid Off - 360		01-May-2005
114000789 1			115,014.63		114,912.09			04-Aug-2005		7.800%		MA - 71.11%		Paid Off - 360		01-May-2005
114000789 1					114,912.09			04-Aug-2005		7.800%		MA - 71.11%		Paid Off - 360		01-May-2005
114038649 1			205,729.96		205,543.42			13-Jul-2005		6.550%		MA - 89.61%		Paid Off - 360		01-May-2005
114038649 1					205,543.42			13-Jul-2005		6.550%		MA - 89.61%		Paid Off - 360		01-May-2005
114357122 1			172,238.60		172,146.28			29-Jul-2005		9.200%		NJ - 75.00%		Paid Off - 360		01-May-2005
114357122 1					172,146.28			29-Jul-2005		9.200%		NJ - 75.00%		Paid Off - 360		01-May-2005
114583966 1			119,802.31		119,702.60			26-Jul-2005		6.990%		OH - 86.96%		Paid Off - 360		01-May-2005
114583966 1					119,702.60			26-Jul-2005		6.990%		OH - 86.96%		Paid Off - 360		01-May-2005
114668767 1			98,314.27		98,238.54			04-Aug-2005		7.400%		MI - 54.27%		Paid Off - 360		01-May-2005
114668767 1					98,238.54			04-Aug-2005		7.400%		MI - 54.27%		Paid Off - 360		01-May-2005
115047169 1			151,131.84		151,065.93			09-Aug-2005		10.150%		IL - 90.00%		Paid Off - 360		01-May-2005
115047169 1					151,065.93			09-Aug-2005		10.150%		IL - 90.00%		Paid Off - 360		01-May-2005


TOTAL			9,884,525.37		9,873,250.38
TOTAL


Page 17 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



															Total


Current
Current



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

Cumulative
Cumulative



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










Page 18 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution


DEFAULT SPEEDS



															Total



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


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


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


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












Page 19 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 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 20 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 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 21 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
														Total
						Has Stepdown Condition occurred (0 = No, 1=Yes)								0

						Does a Trigger Event Exist-Either a) or b) Yes?								0

						60+ days Delinquency Balance								603,335.09
						Ending Collateral Balance								799,113,327.88
						Delinquency Percentage								0.0469%

						Senior Enhancement Percentage								9.112200%

						Cumulative Loss Percentage								0.0000%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

SPACE INTENTIONALLY LEFT BLANK




Page 22 of 23
ABFC Trust 2005-AQ1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-AQ1

August 25, 2005 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT


CLASS







Page 23 of 23

Filing Compare · ABFC 2005-AQ1 Trust