8-K 1 pps05wh3_10506.txt 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 PARK PLACE SECURITIES, INC. Asset Backed Pass-Through Certificates, Series 2005-WH3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-121784-06 Pooling and Servicing Agreement) (Commission 54-2175592 (State or other File Number) 54-2175593 jurisdiction 54-2175594 of Incorporation) 54-2175595 54-2175596 54-2175597 IRS EIN c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (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 under the Exchange Act (17 CFR 240.14a-12) [ ] 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 On June 27, 2005 a distribution was made to holders of PARK PLACE SECURITIES, INC., Asset Backed Pass-Through Certificates, Series 2005-WH3 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-WH3 Trust, relating to the June 27, 2005 distribution. 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. PARK PLACE SECURITIES, INC. Asset Backed Pass-Through Certificates, Series 2005-WH3 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/28/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-WH3 Trust, relating to the June 27, 2005 distribution. EX-99.1

~~UNITED~~Park ~~STATES~~Place Securities, Inc Asset Backed Pass-Through Certificates Record Date: 5/31/2005 Distribution Date: 6/27/2005 Park Place Securities, Inc Asset Backed Pass-Through Certificates Series 2005-WHQ3 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution A1-A 70069FJG3 SEN 3.32000% 701,160,000.00 2,069,201.07 A1-B 70069FJH1 SEN 3.37000% 175,280,000.00 525,060.98 A2-A 70069FJK4 SEN 3.17000% 310,420,000.00 874,694.58 A2-B 70069FJL2 SEN 3.25000% 138,670,000.00 400,602.22 A2-C 70069FJM0 SEN 3.31000% 146,090,000.00 429,829.24 A2-D 70069FJN8 SEN 3.42000% 114,380,000.00 347,715.20 M-1 70069FJP3 MEZ 3.51000% 59,000,000.00 184,080.00 M-2 70069FJQ1 MEZ 3.54000% 69,000,000.00 217,120.00 M-3 70069FJR9 MEZ 3.56000% 37,000,000.00 117,084.44 M-4 70069FJS7 MEZ 3.72000% 33,000,000.00 109,120.00 M-5 70069FJT5 MEZ 3.76000% 32,000,000.00 106,951.11 M-6 70069FJU2 MEZ 3.79000% 29,000,000.00 97,697.78 M-7 70069FJV0 MEZ 4.29000% 28,000,000.00 106,773.33 M-8 70069FJW8 MEZ 4.39000% 21,000,000.00 81,946.67 M-9 70069FJX6 MEZ 4.89000% 18,000,000.00 78,240.00 M-10 70069FJY4 MEZ 5.59000% 16,000,000.00 79,502.22 M-11 70069FJZ1 MEZ 5.59000% 26,000,000.00 129,191.11 M-12 70069FJK2 MEZ 5.59000% 16,000,000.00 79,502.22 CE PPS05Q3CE SUB 0.00000% 30,000,004.08 3,871,645.28 P PPS05Q3P SEN 0.00000% 100.00 157,354.14 R PPS05Q3R RES 0.00000% 0.00 0.00 RX PPS05Q3RX RES 0.00000% 0.00 0.00 Totals 2,000,000,104.08 10,063,311.59

~~SECURITIES~~Certificateholder ~~AND~~Distribution ~~EXCHANGE~~Summary ~~COMMISSION~~(continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A1-A 9,804,003.33 0.00 691,355,996.67 11,873,204.40 0.00 A1-B 2,450,861.01 0.00 172,829,138.99 2,975,921.99 0.00 A2-A 10,271,105.23 0.00 300,148,894.77 11,145,799.81 0.00 A2-B 0.00 0.00 138,670,000.00 400,602.22 0.00 A2-C 0.00 0.00 146,090,000.00 429,829.24 0.00 A2-D 0.00 0.00 114,380,000.00 347,715.20 0.00 M-1 0.00 0.00 59,000,000.00 184,080.00 0.00 M-2 0.00 0.00 69,000,000.00 217,120.00 0.00 M-3 0.00 0.00 37,000,000.00 117,084.44 0.00 M-4 0.00 0.00 33,000,000.00 109,120.00 0.00 M-5 0.00 0.00 32,000,000.00 106,951.11 0.00 M-6 0.00 0.00 29,000,000.00 97,697.78 0.00 M-7 0.00 0.00 28,000,000.00 106,773.33 0.00 M-8 0.00 0.00 21,000,000.00 81,946.67 0.00 M-9 0.00 0.00 18,000,000.00 78,240.00 0.00 M-10 0.00 0.00 16,000,000.00 79,502.22 0.00 M-11 0.00 0.00 26,000,000.00 129,191.11 0.00 M-12 0.00 0.00 16,000,000.00 79,502.22 0.00 CE 0.00 0.00 30,000,027.04 3,871,645.28 0.00 P 0.00 0.00 100.00 157,354.14 0.00 R 0.00 0.00 0.00 0.00 0.00 RX 0.00 0.00 0.00 0.00 0.00 Totals 22,525,969.57 0.00 1,977,474,157.47 32,589,281.16 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

~~WASHINGTON~~Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A1-A 701,160,000.00 D701,160,000.00 0.00 9,804,003.33 0.00 0.00 A1-B 175,280,000.00 175,280,000.00 0.00 2,450,861.01 0.00 0.00 A2-A 310,420,000.00 310,420,000.00 0.00 10,271,105.23 0.00 0.00 A2-B 138,670,000.00 138,670,000.00 0.00 0.00 0.00 0.00 A2-C 146,090,000.00 ~~20549~~146,090,000.00 0.00 0.00 0.00 0.00 A2-D 114,380,000.00 114,380,000.00 0.00 0.00 0.00 0.00 M-1 59,000,000.00 59,000,000.00 0.00 0.00 0.00 0.00 M-2 69,000,000.00 69,000,000.00 0.00 0.00 0.00 0.00 M-3 37,000,000.00 37,000,000.00 0.00 0.00 0.00 0.00 M-4 33,000,000.00 33,000,000.00 0.00 0.00 0.00 0.00 M-5 32,000,000.00 32,000,000.00 0.00 0.00 0.00 0.00 M-6 29,000,000.00 29,000,000.00 0.00 0.00 0.00 0.00 M-7 28,000,000.00 28,000,000.00 0.00 0.00 0.00 0.00 M-8 21,000,000.00 21,000,000.00 0.00 0.00 0.00 0.00 M-9 18,000,000.00 18,000,000.00 0.00 0.00 0.00 0.00 M-10 16,000,000.00 16,000,000.00 0.00 0.00 0.00 0.00 M-11 26,000,000.00 26,000,000.00 0.00 0.00 0.00 0.00 M-12 16,000,000.00 16,000,000.00 0.00 0.00 0.00 0.00 CE 30,000,004.08 30,000,004.08 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 RX 0.00 0.00 0.00 0.00 0.00 0.00 Totals 2,000,000,104.08 2,000,000,104.08 0.00 22,525,969.57 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~FORM~~Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1-A 9,804,003.33 691,355,996.67 0.98601745 9,804,003.33 A1-B 2,450,861.01 172,829,138.99 0.98601745 2,450,861.01 A2-A 10,271,105.23 300,148,894.77 0.96691223 10,271,105.23 A2-B 0.00 138,670,000.00 1.00000000 0.00 A2-C 0.00 146,090,000.00 1.00000000 0.00 A2-D 0.00 114,380,000.00 1.00000000 0.00 M-1 0.00 59,000,000.00 1.00000000 0.00 M-2 0.00 69,000,000.00 1.00000000 0.00 M-3 0.00 37,000,000.00 1.00000000 0.00 M-4 0.00 33,000,000.00 1.00000000 0.00 M-5 0.00 32,000,000.00 1.00000000 0.00 M-6 0.00 29,000,000.00 1.00000000 0.00 M-7 0.00 28,000,000.00 1.00000000 0.00 M-8 0.00 21,000,000.00 1.00000000 0.00 M-K9 0.00 18,000,000.00 1.00000000 0.00 M-10 0.00 16,000,000.00 1.00000000 0.00 M-11 0.00 26,000,000.00 1.00000000 0.00 M-12 0.00 16,000,000.00 1.00000000 0.00 CE 0.00 30,000,027.04 1.00000077 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 RX 0.00 0.00 0.00000000 0.00 Totals 22,525,969.57 1,977,474,157.47 0.98873703 22,525,969.57

~~CURRENT~~Principal ~~REPORT~~Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1-A 701,160,000.00 1000.00000000 0.00000000 13.98254796 0.00000000 A1-B 175,280,000.00 1000.00000000 0.00000000 13.98254798 0.00000000 A2-A 310,420,000.00 1000.00000000 0.00000000 33.08776893 0.00000000 A2-B 138,670,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A2-C 146,090,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A2-D 114,380,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 59,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 69,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 37,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 33,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 32,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 29,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 28,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 21,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 18,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-10 16,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-11 26,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-12 16,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 30,000,004.08 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 RX 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination.

~~Pursuant~~Principal toDistribution ~~Section~~Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1-A 0.00000000 13.98254796 or986.01745204 150.98601745 13.98254796 A1-B 0.00000000 13.98254798 986.01745202 0.98601745 13.98254798 A2-A 0.00000000 33.08776893 966.91223107 0.96691223 33.08776893 A2-B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A2-C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A2-D 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-12 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 1,000.00076533 1.00000077 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 RX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (d3) ofAmount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~SECURITIES~~Interest ~~EXCHANGE~~Distribution ~~ACT~~Statement OFBeginning ~~1934~~Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1-A 701,160,000.00 3.32000% 701,160,000.00 2,069,201.07 0.00 0.00 A1-B 175,280,000.00 3.37000% 175,280,000.00 525,060.98 0.00 0.00 A2-A 310,420,000.00 3.17000% 310,420,000.00 874,694.58 0.00 0.00 A2-B 138,670,000.00 3.25000% 138,670,000.00 400,602.22 0.00 0.00 A2-C 146,090,000.00 3.31000% 146,090,000.00 429,829.24 0.00 0.00 A2-D 114,380,000.00 3.42000% 114,380,000.00 347,715.20 0.00 0.00 M-1 59,000,000.00 3.51000% 59,000,000.00 184,080.00 0.00 0.00 M-2 69,000,000.00 3.54000% 69,000,000.00 217,120.00 0.00 0.00 M-3 37,000,000.00 3.56000% 37,000,000.00 117,084.44 0.00 0.00 M-4 33,000,000.00 3.72000% 33,000,000.00 109,120.00 0.00 0.00 M-5 32,000,000.00 3.76000% 32,000,000.00 106,951.11 0.00 0.00 M-6 29,000,000.00 3.79000% 29,000,000.00 97,697.78 0.00 0.00 M-7 28,000,000.00 4.29000% 28,000,000.00 106,773.33 0.00 0.00 M-8 21,000,000.00 4.39000% 21,000,000.00 81,946.67 0.00 0.00 M-9 18,000,000.00 4.89000% 18,000,000.00 78,240.00 0.00 0.00 M-10 16,000,000.00 5.59000% 16,000,000.00 79,502.22 0.00 0.00 M-11 26,000,000.00 5.59000% 26,000,000.00 129,191.11 0.00 0.00 M-12 16,000,000.00 5.59000% 16,000,000.00 79,502.22 0.00 0.00 CE 30,000,004.08 0.00000% 30,000,004.08 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 2,000,001,802.82 0.00 0.00 0.00 RX 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 2,000,000,104.08 6,034,312.17 0.00 0.00

~~DATE~~Interest OFDistribution ~~REPORT~~Statement (~~DATE~~continued) OFRemaining ~~EARLIEST~~Ending ~~EVENT~~Non-Supported ~~REPORTED~~Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4): ~~MAY~~Distribution Shortfall Balance A1-A 0.00 0.00 2,069,201.07 0.00 691,355,996.67 A1-B 0.00 0.00 525,060.98 0.00 172,829,138.99 A2-A 0.00 0.00 874,694.58 0.00 300,148,894.77 A2-B 0.00 0.00 400,602.22 0.00 138,670,000.00 A2-C 0.00 0.00 429,829.24 0.00 146,090,000.00 A2-D 0.00 0.00 347,715.20 0.00 114,380,000.00 M-1 0.00 0.00 184,080.00 ~~2005~~0.00 59,000,000.00 M-2 0.00 0.00 217,120.00 0.00 69,000,000.00 M-3 0.00 0.00 117,084.44 0.00 37,000,000.00 M-4 0.00 0.00 109,120.00 0.00 33,000,000.00 M-5 0.00 0.00 106,951.11 0.00 32,000,000.00 M-6 0.00 0.00 97,697.78 0.00 29,000,000.00 M-7 0.00 0.00 106,773.33 0.00 28,000,000.00 M-8 0.00 0.00 81,946.67 0.00 21,000,000.00 M-9 0.00 0.00 78,240.00 0.00 18,000,000.00 M-10 0.00 0.00 79,502.22 0.00 16,000,000.00 M-11 0.00 0.00 129,191.11 0.00 26,000,000.00 M-12 0.00 0.00 79,502.22 0.00 16,000,000.00 CE 0.00 0.00 3,871,645.28 0.00 30,000,027.04 P 0.00 0.00 157,354.14 0.00 100.00 R 0.00 0.00 0.00 0.00 1,977,474,157.47 RX 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 10,063,311.59 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~PARK~~Interest ~~PLACE~~Distribution ~~SECURITIES~~Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A1-A 701,160,000.00 ~~INC~~3.32000% 1000.00000000 2.95111112 0.00000000 0.00000000 A1-B 175,280,000.00 3.37000% 1000.00000000 2.99555557 0.00000000 0.00000000 A2-A 310,420,000.00 3.17000% 1000.00000000 2.81777778 0.00000000 0.00000000 A2-B 138,670,000.00 3.25000% 1000.00000000 2.88888887 0.00000000 0.00000000 A2-C 146,090,000.00 3.31000% 1000.00000000 2.94222219 0.00000000 0.00000000 A2-D 114,380,000.00 3.42000% 1000.00000000 3.04000000 0.00000000 0.00000000 M-1 59,000,000.00 3.51000% 1000.00000000 3.12000000 0.00000000 0.00000000 M-2 69,000,000.00 3.54000% 1000.00000000 3.14666667 0.00000000 0.00000000 M-3 37,000,000.00 3.56000% 1000.00000000 3.16444432 0.00000000 0.00000000 M-4 33,000,000.00 3.72000% 1000.00000000 3.30666667 0.00000000 0.00000000 M-5 32,000,000.00 3.76000% 1000.00000000 3.34222219 0.00000000 0.00000000 M-6 29,000,000.00 3.79000% 1000.00000000 3.36888897 0.00000000 0.00000000 M-7 28,000,000.00 4.29000% 1000.00000000 3.81333321 0.00000000 0.00000000 M-8 21,000,000.00 4.39000% 1000.00000000 3.90222238 0.00000000 0.00000000 M-9 18,000,000.00 4.89000% 1000.00000000 4.34666667 0.00000000 0.00000000 M-10 16,000,000.00 5.59000% 1000.00000000 4.96888875 0.00000000 0.00000000 M-11 26,000,000.00 5.59000% 1000.00000000 4.96888885 0.00000000 0.00000000 M-12 16,000,000.00 5.59000% 1000.00000000 4.96888875 0.00000000 0.00000000 CE 30,000,004.08 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 1000.00089937 0.00000000 0.00000000 0.00000000 RX 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denomination.

Interest Distribution Factors Statement (ascontinued) ~~depositor~~Remaining ~~under~~Ending ~~the~~Non-Supported ~~Pooling~~Total ~~and~~Unpaid ~~Servicing~~Certificate/ ~~Agreement~~Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A1-A 0.00000000 0.00000000 2.95111112 0.00000000 986.01745204 A1-B 0.00000000 0.00000000 2.99555557 0.00000000 986.01745202 A2-A 0.00000000 0.00000000 2.81777778 0.00000000 966.91223107 A2-B 0.00000000 0.00000000 2.88888887 0.00000000 1000.00000000 A2-C 0.00000000 0.00000000 2.94222219 0.00000000 1000.00000000 A2-D 0.00000000 0.00000000 3.04000000 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 3.12000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.14666667 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.16444432 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.30666667 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.34222219 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.36888897 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 3.81333321 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 3.90222238 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 4.34666667 0.00000000 1000.00000000 M-10 0.00000000 0.00000000 4.96888875 0.00000000 1000.00000000 M-11 0.00000000 0.00000000 4.96888885 0.00000000 1000.00000000 M-12 0.00000000 0.00000000 4.96888875 0.00000000 1000.00000000 CE 0.00000000 0.00000000 129.05482512 0.00000000 1000.00076533 P 0.00000000 0.00000000 1573541.40000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 988.73707672 RX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~dated~~CERTIFICATEHOLDER asACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of ~~May~~Interest 1and Principal 34,562,645.73 ~~2005~~Liquidations, ~~providing~~Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 157,354.14 Total Deposits 34,719,999.87 Withdrawals Reimbursement for ~~the~~Servicer ~~issuance~~Advances 0.00 Payment of Service Fee 833,334.08 Payment of Interest and Principal 33,886,665.79 Total Withdrawals (Pool Distribution Amount) 34,719,999.87 Ending Balance 0.00

~~ASSET-BACKED~~PREPAYMENT/CURTAILMENT ~~PASS-THROUGH~~INTEREST ~~CERTIFICATES,~~SHORTFALL ~~SERIES~~Total ~~2005~~Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-~~WHQ3)~~Supported Prepayment/Curtailment Interest Shortfall 0.00

~~Park~~SERVICING ~~Place~~FEES ~~Securities~~Gross Servicing Fee 833,334.08 ~~Inc~~Custodian Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 833,334.08

OTHER ~~(EXACT~~ACCOUNTS ~~NAME~~Beginning OFCurrent ~~REGISTRANT~~Current ASEnding ~~SPECIFIED~~Account INType ~~ITS~~Balance ~~CHARTER)~~Withdrawals Deposits Balance Reserve Fund 0.00 0.00 0.00 0.00 Reserve Fund 0.00 0.00 0.00 0.00 Reserve Fund 0.00 157,354.14 157,354.14 0.00

	Delaware		333-121784-05		34-1993512
(State or Other Jurisdiction		(Commission		(I.R.S. Employer
of Incorporation)		File Number)		Identification Number)

Delinquency Status By Groups

~~1100~~DELINQUENT ~~Town~~BANKRUPTCY &FORECLOSURE ~~Country~~REO ~~Road~~Total Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 3 0 0 3 440,138.39 ~~Suite~~0.00 ~~1100~~0.00 440,138.39 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 3 0 0 3 0.00 440,138.39 0.00 0.00 440,138.39 0-29 Days 0.052029% 0.000000% 0.000000% 0.052029% 0.050320% 0.000000% 0.000000% 0.050320% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.052029% 0.000000% 0.000000% 0.052029% 0.000000% 0.050320% 0.000000% 0.000000% 0.050320% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 135,000.00 0.00 0.00 135,000.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 1 0 0 1 0.00 135,000.00 0.00 0.00 135,000.00 0-29 Days 0.062073% 0.000000% 0.000000% 0.062073% 0.061806% 0.000000% 0.000000% 0.061806% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.062073% 0.000000% 0.000000% 0.062073% 0.000000% 0.061806% 0.000000% 0.000000% 0.061806% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 87,348.60 0.00 0.00 87,348.60 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 1 0 0 1 0.00 87,348.60 0.00 0.00 87,348.60 0-29 Days 0.134590% 0.000000% 0.000000% 0.134590% 0.048757% 0.000000% 0.000000% 0.048757% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.134590% 0.000000% 0.000000% 0.134590% 0.000000% 0.048757% 0.000000% 0.000000% 0.048757%

Orange, California	92868
(Address of Principal Executive Offices)		(Zip Code)

~~Registrant's~~SUBORDINATION ~~telephone~~LEVEL/CREDIT ~~number~~ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class R 414,000,104.08 ~~including~~20.70000516% ~~area~~414,000,127.04 ~~code: (714)~~20.93580467% ~~564~~0.000000% 0.000000% Class M-~~0660~~1 355,000,104.08 17.75000517% 355,000,127.04 17.95220057% 2.983604% 0.000000% Class M-2 286,000,104.08 14.30000517% 286,000,127.04 14.46290087% 3.489300% 0.000000% Class M-3 249,000,104.08 12.45000518% 249,000,127.04 12.59182711% 1.871074% 0.000000% Class M-4 216,000,104.08 10.80000518% 216,000,127.04 10.92303160% 1.668796% 0.000000% Class CE 100.00 0.00000500% 100.00 0.00000506% 1.517088% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000005% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

REO Detail - All Mortgage Loans in REO during Current Period

~~Check~~Summary 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current REO Total Nov-04 0.000% Loans in REO 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the ~~appropriate~~above ~~box~~table ~~below~~is ifpresented graphically on the ~~Form~~monthly 8bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 1 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Jul-K04 ~~filing~~0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current REO Total Nov-04 0.000% Loans in REO 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the above table is ~~intended~~presented tographically ~~simultaneously~~on ~~satisfy~~the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current REO Total Nov-04 0.000% Loans in REO 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the ~~filing~~above ~~obligation~~table ofis presented graphically on the ~~registrant~~monthly ~~under~~bond ~~any~~remittance ofreport. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 3 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current REO Total Nov-04 0.000% Loans in REO 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the ~~following~~above ~~provisions~~table ~~(see~~is ~~General~~presented ~~Instruction~~graphically Aon the monthly bond remittance report.2 The monthly bond remittance report can be viewed online at www.ctslink.com. ~~below):~~Group 4 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current REO Total Nov-04 0.000% Loans in REO 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

oREO ~~Written~~Loan ~~communications~~Detail ~~pursuant~~- toAll ~~Rule~~Mortgage ~~425~~Loans ~~under~~in ~~the~~REO ~~Securities~~during ~~Act~~Current ~~(17~~Period ~~CFR~~Month ~~230~~Loan First Original Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance No REO loans this period.~~425)~~

oREO ~~Soliciting~~Loan ~~material~~Detail ~~pursuant~~- toAll ~~Rule~~Mortgage ~~14a-12~~Loans in REO during Current Period (bcontinued) ~~under~~Current ~~the~~Paid ~~Exchange~~Current ~~Act~~Approximate ~~(17~~Loan ~~CFR~~Principal ~~240~~To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No REO loans this period.~~14a-12(b))~~

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

oSummary ~~Pre~~12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Jul-~~commencement~~04 ~~communications~~0.000% ~~pursuant~~Original toPrincipal ~~Rule~~Balance ~~14d~~0.00 Aug-~~2(b)~~04 ~~under~~0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current Foreclosure Total Nov-04 0.000% Loans in Foreclosure 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the ~~Exchange~~above ~~Act~~table ~~(17~~is ~~CFR~~presented ~~240~~graphically on the monthly bond remittance report.~~14d~~ The monthly bond remittance report can be viewed online at www.ctslink.com. Group 1 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current Foreclosure Total Nov-04 0.000% Loans in Foreclosure 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 2~~(b))~~ 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current Foreclosure Total Nov-04 0.000% Loans in Foreclosure 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 3 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current Foreclosure Total Nov-04 0.000% Loans in Foreclosure 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 4 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current Foreclosure Total Nov-04 0.000% Loans in Foreclosure 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

oForeclosure ~~Pre~~Loan Detail -~~commencement~~ ~~communications~~All ~~pursuant~~Mortgage toLoans ~~Rule~~in ~~13e-4(c)~~Foreclosure ~~under~~during ~~the~~Current ~~Exchange~~Period ~~Act~~Month ~~(17~~Loan ~~CFR~~First ~~240~~Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance No Foreclosure loans this period.~~13e-4(c))~~

~~Section~~Foreclosure 2Loan Detail - ~~Completion~~All ofMortgage ~~Acquisition~~Loans orin ~~Disposition~~Foreclosure ofduring ~~Assets~~Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No Foreclosure loans this period.

~~Item~~COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.220963% Weighted Average Net Coupon 6.720963% Weighted Average Pass-Through Rate 6.720963% Weighted Average Maturity(Stepdown Calculation) 356 Beginning Scheduled Collateral Loan Count 10,593 Number Of Loans Paid In Full 99 Ending Scheduled Collateral Loan Count 10,494 Beginning Scheduled Collateral Balance 2,000,000,004.0108 ~~Completion~~Ending ofScheduled ~~Acquisition~~Collateral orBalance ~~Disposition~~1,977,474,157.47 ofEnding ~~Assets~~Actual Collateral Balance at 31-May-2005 1,977,721,221.90 Monthly P&I Constant 13,354,591.31 Special Servicing Fee 0.00 Prepayment Penalties 157,354.14 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 1,319,641.79 Unscheduled Principal 21,208,003.56

COLLATERAL STATEMENT Collateral Description ofMixed ~~the~~Fixed ~~Certificates~~& Arm Weighted Average Coupon Rate 7.220963% Weighted Average Net Rate 6.720963% Weighted Average Pass Through Rate 6.720963% Weighted Average Maturity 356 Record Date 05/31/2005 Principal and ~~the~~Interest ~~Mortgage~~Constant 13,354,591.31 Beginning Loan Count 10,593 Loans Paid in Full 99 Ending Loan Count 10,494 Beginning Scheduled Balance 2,000,000,004.08 Ending Scheduled Balance 1,977,474,157.47 Ending Actual Balance at 31-May-2005 1,977,721,221.90 Scheduled Principal 1,319,641.79 Unscheduled Principal 21,208,003.56 Scheduled Interest 12,034,949.52 Servicing Fee 833,334.08 Master Servicing Fee 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 11,201,615.44 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Special Servicing Fee 0.00 Prepayment Penalties 157,354.14

OnMiscellaneous ~~May~~Reporting ~~26,~~Excess ~~2005,~~Interest ~~a series of certificates~~4, ~~entitled Park Place Securities Inc. Asset-Backed Pass-Through Certificates~~167, ~~Series 2005-WHQ3 (the “Certificates”), were issued pursuant to a pooling and servicing agreement, dated as of May 1, 2005 (the “Agreement”), attached hereto as Exhibit 4~~354.1,13 ~~among~~Extra ~~Park~~Principal ~~Place Securities Inc~~0.00 asOvercollateralization ~~depositor~~Amount ~~(the “Depositor”)~~30, ~~HomEq Servicing Corporation (“HomEq”) as master servicer (the “Master Servicer”) and Wells Fargo Bank~~001, N702.A.82 asOvercollateralization ~~trustee~~Deficiency ~~(the~~Amount ~~“Trustee”)~~0.00 ~~The~~Overcollateralization ~~Certificates~~Increase ~~consist~~Amount of0.00 ~~twenty-two~~Overcollateralization ~~classes~~Release ofAmount certificates (collectively, the “Certificates”), designated as the Class A-1A Certificates, Class A-1B Certificates, Class A-2A Certificates, Class A-2B Certificates, Class A-2C Certificates, Class A-2D Certificates, Class M-1 ~~Certificates~~, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9 Certificates, Class M-10 Certificates, Class M-11 Certificates, Class M-12, Certificates, Class CE Certificates, Class P Certificates, Class R Certificates and Class R-X Certificates, collectively, the “Certificates675.~~” The~~78 ~~Certificates~~Specified ~~evidence~~Overcollateralization inAmount the aggregate the entire beneficial ownership interest in a trust fund (the “Trust Fund”), consisting of a pool of mortgage loans (the “Mortgage Pool'“) of conventional, one- to four- family, adjustable-rate and fixed rate, first lien mortgage loans having original terms to maturity up to 30 ~~years (the “Mortgage Loans”). The Mortgage Pool consist of Mortgage Loans having an aggregate principal balance of $3~~,~~500~~000,~~003,306~~027.6604 asStepdown ofNO ~~May~~Swap 1,IN ~~2005 (the “Cut-off Date”). The Mortgage Loans were purchased pursuant to (i) the Mortgage Loan Purchase Agreement~~5, ~~dated May 26~~493, ~~2005, between Ameriquest Mortgage Company (“Ameriquest”) and the Depositor (the “Mortgage Loan Purchase Agreement”)~~333. ~~The~~33 ~~Class~~Swap ~~A-1A~~OUT Certificates, Class A-1B Certificates, Class A-2A Certificates, Class A-2B Certificates, Class A-2C Certificates, Class A-2D Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 ~~Certificates~~, ~~Class M-7 Certificates~~491,166.67 ~~Class~~Trigger ~~M-8~~Event Certificates, Class M-9 Certificates, Class M-10 Certificates, Class M-11 Certificates were sold by the Depositor to Credit Suisse First Boston LLC as Representative (the “Representative”) of the several Underwriters (collectively the “Underwriters”), pursuant to an Underwriting Agreement, dated May 26, 2005 (the “Underwriting Agreement”) among the Depositor, Ameriquest and the Representative.NO

~~The~~Group ~~Certificates~~Level ~~have~~Collateral ~~the~~Statement ~~following~~Group ~~initial~~Group ~~Certificate~~1 ~~Balances~~Group ~~and~~2 Group 3 Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.545696 6.914809 7.097805 Weighted Average Net Rate 7.045696 6.414809 6.597805 Weighted Average Maturity 358 350 358 Beginning Loan Count 5,824 1,620 2,402 Loans Paid In Full 58 9 28 Ending Loan Count 5,766 1,611 2,374 Beginning Scheduled Balance 885,048,627.95 220,169,398.37 714,951,936.83 Ending Scheduled Balance 874,558,505.80 218,403,744.50 705,376,575.14 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal And Interest Constant 6,147,774.00 1,479,508.51 4,581,186.01 Scheduled Principal 582,517.55 210,817.43 352,361.46 Unscheduled Principal 9,907,604.60 1,554,836.44 9,223,000.23 Scheduled Interest 5,565,256.45 1,268,691.08 4,228,824.55 Servicing Fees 368,770.26 91,737.25 297,896.64 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 5,196,486.19 1,176,953.83 3,930,927.91 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through ~~Rates:~~Rate 7.045696 6.414809 6.597805

Class	Initial Certificate Principal Balance(1)	Pass-Through Rate
Offered Certificates
A-1A	$ 701,160,000	Variable(4)
A-1B	$ 175,280,000	Variable(4)
A-2A	$ 310,420,000	Variable(4)
A-2B	$ 138,670,000	Variable(4)
A-2C	$ 146,090,000	Variable(4)
A-2D	$ 114,380,000	Variable(4)
M-1	$ 59,000,000	Variable(4)
M-2	$ 69,000,000	Variable(4)
M-3	$ 37,000,000	Variable(4)
M-4	$ 33,000,000	Variable(4)
M-5	$ 32,000,000	Variable(4)
M-6	$ 29,000,000	Variable(4)
M-7	$ 28,000,000	Variable(4)
M-8	$ 21,000,000	Variable(4)
M-9	$ 18,000,000	Variable(4)
M-10	$ 16,000,000	Variable(4)

(Prepayment Detail - Prepayments during Current Period Summary Loans Paid In Full Repurchased Loans Original Current Original Current Principal Principal Principal Principal Group Count Balance Balance Count Balance Balance Group 1) ~~Approximate~~58 9,833,697.00 9,822,725.73 0 0.00 0.00 Group 2 9 1,539,955.00 1,532,720.10 0 0.00 0.00 Group 3 28 9,180,028.00 9,165,970.61 0 0.00 0.00 Group 4 4 503,080.00 501,527.08 0 0.00 0.00 Total 99 21,056,760.00 21,022,943.52 0 0.00 0.00

Prepayment Detail - Prepayments during Current Period (2continued) ~~The~~Summary ~~pass-through~~Substitution ~~rate~~Loans onLiquidated ~~each~~Loans ~~class~~Curtailments ofOriginal ~~Adjustable-Rate~~Current ~~Certificates~~Original ~~will~~Current bePrincipal ~~based~~Principal onPrincipal ~~one-month~~Principal ~~LIBOR~~Curtailment ~~plus~~Group ~~the~~Count ~~applicable~~Balance ~~margin~~Balance ~~set~~Count ~~forth~~Balance ~~above~~Balance Amount Group 1 0 0.00 0.00 0 0.00 0.00 90,829.87 ~~subject~~Group to2 ~~the~~0 ~~rate~~0.00 ~~caps~~0.00 ~~described~~0 in0.00 ~~this~~0.00 ~~prospectus~~23,423.29 ~~supplement~~Group 3 0 0.00 0.00 0 0.00 0.00 61,784.86 Group 4 0 0.00 0.00 0 0.00 0.00 21,409.57 Total 0 0.00 0.00 0 0.00 0.00 197,447.59

~~The~~Prepayment ~~Certificates~~Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Group 1 0064868730 CA 80.00 01-Feb-2005 160,000.00 ~~other~~158,100.58 ~~than~~Group ~~the~~1 ~~Class~~0066743832 CEMA ~~Certificates~~75.00 01-Feb-2005 240,000.00 ~~the~~239,175.76 ~~Class~~Group P1 ~~Certificates~~0067310839 CA 70.00 01-Jan-2005 325,500.00 ~~Class~~324,598.97 RGroup ~~Certificates~~1 ~~and~~0067486514 ~~the~~NJ ~~Class~~69.44 R01-XFeb-2005 ~~Certificates~~125,000.00 ~~and~~124,583.47 ~~the~~Group ~~Mortgage~~1 ~~Loans~~0067902775 ~~are~~MT ~~more~~64.06 ~~particularly~~01-May-2005 ~~described~~205,000.00 in204,598.57 ~~the~~Group ~~Prospectus~~1 ~~Supplement~~0069040079 FL 80.00 01-Feb-2005 120,000.00 ~~dated~~119,497.51 Group 1 0069272011 MD 85.00 01-May-2005 ~~[__]~~216,750.00 215,946.07 Group 1 0069963932 FL 80.00 01-May-2005 ~~(the~~111,920.00 ~~“Prospectus~~111,707.04 ~~Supplement”)~~Group 1 0070567656 CA 85.00 01-May-2005 223,452.00 ~~and~~223,212.01 ~~the~~Group ~~Prospectus~~1 0070756192 CA 61.45 01-May-2005 220,000.00 ~~dated~~219,620.09 ~~January~~Group 1 0071285951 CA 65.00 01-May-2005 148,200.00 147,895.61 Group 1 0071802656 PA 90.00 01-Jun-2005 92,700.00 92,644.41 Group 1 0072126592 MI 85.00 01-May-2005 69,700.00 69,610.79 Group 1 0072523517 MO 95.00 01-May-2005 152,000.00 151,833.32 Group 1 0072838717 IL 69.20 01-May-2005 173,000.00 172,651.38 Group 1 0072857071 IL 90.00 01-Apr-2005 77,400.00 77,284.85 Group 1 0072871510 FL 90.00 01-May-2005 218,700.00 218,472.35 Group 1 0072922594 IL 79.00 01-May-2005 316,000.00 315,603.77 Group 1 0073006710 TX 80.00 01-Apr-2005 112,000.00 110,958.13 Group 1 0073016958 CA 95.00 01-Apr-2005 270,750.00 270,750.00 Group 1 0073028797 AZ 94.98 01-Apr-2005 199,800.00 199,443.54 Group 1 0073517559 IL 74.25 01-May-2005 349,000.00 348,495.73 Group 1 0073536799 NJ 27.90 01-May-2005 120,000.00 119,868.41 Group 1 0073689234 FL 61.72 01-May-2005 100,000.00 99,649.71 Group 1 0073818999 CA 35.46 01-May-2005 133,000.00 132,803.93 Group 1 0073836512 MA 90.00 01-May-2005 103,500.00 103,381.93 Group 1 0073846156 IL 70.00 01-May-2005 157,500.00 157,222.11 Group 1 0073877631 MD 75.00 01-May-2005 187,500.00 187,285.68 Group 1 0073883357 IL 73.97 01-May-2005 270,000.00 270,000.00 Group 1 0073918872 MD 70.00 01-May-2005 262,500.00 261,924.04 Group 1 0073933590 AZ 90.00 01-May-2005 187,542.00 187,542.00 Group 1 0073951113 MI 90.00 01-May-2005 50,040.00 49,987.92 Group 1 0074059239 NJ 75.00 01-May-2005 167,250.00 167,025.94 Group 1 0074163957 CA 47.91 01-May-2005 230,000.00 230,000.00 Group 1 0074188079 IA 80.00 01-May-2005 161,600.00 161,295.46 Group 1 0074250234 MD 76.08 01-May-2005 175,000.00 174,752.16 Group 1 0074410473 AZ 89.99 01-May-2005 144,972.00 144,814.67 Group 1 0074422312 MN 69.21 01-May-2005 263,000.00 262,536.90 Group 1 0074502915 NM 85.00 01-May-2005 62,475.00 as62,376.24 ~~previously~~Group ~~filed~~1 ~~with~~0074569278 ~~the~~IL ~~Securities~~80.00 ~~and~~01-May-2005 ~~Exchange~~166,400.00 ~~Commission~~166,205.82 ~~pursuant~~Group to1 ~~Rule~~0074599671 ~~424(b)~~IL 85. ~~The~~00 ~~Class~~01-May-2005 CE80,750.00 ~~Certificates~~80,665.06 ~~the~~Group ~~Class~~1 P0074724915 ~~Certificates~~IL ~~and~~57.06 01-May-2005 105,000.00 ~~the~~104,804.97 ~~Class~~Group R1 ~~Certificates~~0074769159 ~~the~~CA ~~Class~~89.16 R01-XMay-2005 ~~Certificates~~214,000.00 ~~have~~213,755.39 ~~not~~Group ~~been~~1 ~~and~~0074870999 ~~will~~IL ~~not~~75.00 be01-May-2005 ~~publicly~~267,000.00 ~~offered~~266,639.76 byGroup ~~the~~1 ~~Depositor~~0074882838 MD 90. ~~Capitalized~~00 ~~terms~~01-May-2005 ~~used~~80,100.00 ~~but~~80,005.56 ~~not~~Group ~~otherwise~~1 ~~defined~~0074892035 ~~herein~~FL ~~shall~~73.48 ~~have~~01-May-2005 ~~the~~145,500.00 ~~meanings~~145,300.08 ~~assigned~~Group to1 ~~them~~0075021030 inFL ~~the~~95.00 ~~Prospectus~~01-May-2005 ~~Supplement~~232,546.00 232,350.13 Group 1 0075033191 MI 89.94 01-May-2005 170,000.00 169,768.78 Group 1 0075077958 AK 95.00 01-May-2005 236,550.00 236,549.99 Group 1 0075182352 CA 55.55 01-May-2005 175,000.00 174,736.82 Group 1 0075188235 IN 94.99 01-May-2005 155,500.00 155,268.47 Group 1 0075280073 AZ 95.00 01-May-2005 161,500.00 161,500.00 Group 1 0075315275 AZ 90.00 01-May-2005 103,500.00 103,376.70 Group 1 0075332593 AZ 95.00 01-May-2005 166,250.00 165,992.38 Group 1 0075435719 FL 70.00 01-May-2005 124,600.00 124,399.12 Group 1 0075486951 MI 95.00 01-May-2005 90,250.00 90,127.25 Group 1 0076020155 CT 90.00 01-May-2005 130,500.00 130,361.30 Group 1 0076077916 PA 70.00 01-May-2005 126,000.00 125,816.10 Group 2 0063527311 NJ 69.88 01-Dec-2004 210,000.00 209,445.10 Group 2 0066312950 KY 75.00 01-Jan-2005 71,625.00 71,062.21 Group 2 0069684991 CA 74.07 01-Feb-2005 180,000.00 179,289.37 Group 2 0072363112 NY 79.16 01-May-2005 190,000.00 187,578.91 Group 2 0073356479 AZ 65.00 01-May-2005 94,250.00 92,753.09 Group 2 0073828592 CA 79.68 01-Apr-2005 255,000.00 254,164.12 Group 2 0074021676 TX 80.00 01-Apr-2005 173,600.00 173,244.65 Group 2 0074561390 FL 20.00 01-May-2005 27,980.00 27,950.26 Group 2 0074651035 NY 75.00 01-May-2005 337,500.00 335,925.44 Group 3 0067946939 LA 90.00 01-May-2005 70,200.00 70,103.54 Group 3 0068609718 CA 72.72 01-Feb-2005 560,000.00 551,597.30 Group 3 0071289292 AZ 80.00 01-May-2005 311,920.00 311,920.00 Group 3 0071905038 CA 80.00 01-May-2005 185,000.00 184,717.88 Group 3 0072495997 CA 62.82 01-Apr-2005 375,700.00 375,699.80 Group 3 0072520513 CA 80.00 01-May-2005 442,738.00 441,903.70 Group 3 0073425597 CA 80.00 01-May-2005 196,000.00 195,654.86 Group 3 0073970675 IL 74.00 01-May-2005 370,000.00 369,999.98 Group 3 0074018193 IL 85.00 01-May-2005 680,000.00 678,730.89 Group 3 0074351552 IL 80.00 01-May-2005 260,894.00 260,894.00 Group 3 0074358631 MD 95.00 01-May-2005 204,250.00 204,250.00 Group 3 0074390634 IL 90.00 01-May-2005 310,500.00 310,499.98 Group 3 0074404039 AZ 90.00 01-May-2005 198,000.00 198,000.00 Group 3 0074491275 CA 80.00 01-May-2005 397,750.00 397,750.00 Group 3 0074616277 MA 80.00 01-May-2005 155,920.00 155,293.84 Group 3 0074663519 IL 80.00 01-May-2005 256,000.00 254,911.96 Group 3 0074686197 MD 80.00 01-May-2005 200,000.00 199,183.37 Group 3 0074687757 CA 67.02 01-May-2005 630,000.00 628,964.17 Group 3 0074743790 FL 63.04 01-May-2005 394,000.00 393,250.36 Group 3 0074902594 CA 80.00 01-May-2005 244,000.00 244,000.00 Group 3 0074903634 NJ 74.37 01-May-2005 650,000.00 648,855.44 Group 3 0074965591 CA 80.00 01-May-2005 164,000.00 164,000.00 Group 3 0075020271 CA 80.00 01-May-2005 334,400.00 334,400.00 Group 3 0075212795 NV 80.00 01-May-2005 217,992.00 217,992.00 Group 3 0075785758 MA 80.00 01-May-2005 348,000.00 347,433.42 Group 3 0075942797 NJ 95.00 01-May-2005 378,764.00 378,344.32 Group 3 0076142959 MD 80.00 01-May-2005 256,000.00 255,386.98 Group 3 0076610435 MI 80.00 01-May-2005 388,000.00 387,477.58 Group 4 0063346670 CA 48.11 01-Nov-2004 89,500.00 88,808.09 Group 4 0073390312 NY 80.00 01-May-2005 269,600.00 268,471.27 Group 4 0075788471 MA 20.00 01-May-2005 87,000.00 86,932.02 Group 4 0076240399 MD 20.00 01-May-2005 56,980.00 56,941.34

~~Section~~Prepayment 9Loan Detail - ~~Financial~~Prepayments ~~Statements~~during ~~and~~Current ~~Exhibits~~Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning Group 1 0064868730 Loan Paid in Full 0 8.050% 360 4 Group 1 0066743832 Loan Paid in Full 0 7.950% 360 4 Group 1 0067310839 Loan Paid in Full 0 9.900% 360 5 Group 1 0067486514 Loan Paid in Full 0 8.100% 360 4 Group 1 0067902775 Loan Paid in Full (1) 6.100% 360 1 Group 1 0069040079 Loan Paid in Full 0 6.950% 360 4 Group 1 0069272011 Loan Paid in Full 0 7.400% 360 1 Group 1 0069963932 Loan Paid in Full 0 6.250% 360 1 Group 1 0070567656 Loan Paid in Full 0 9.100% 360 1 Group 1 0070756192 Loan Paid in Full 0 6.750% 360 1 Group 1 0071285951 Loan Paid in Full 0 5.850% 360 1 Group 1 0071802656 Loan Paid in Full (1) 8.550% 360 1 Group 1 0072126592 Loan Paid in Full 0 8.250% 360 1 Group 1 0072523517 Loan Paid in Full 0 9.000% 360 1 Group 1 0072838717 Loan Paid in Full (1) 5.950% 360 1 Group 1 0072857071 Loan Paid in Full 0 9.500% 360 2 Group 1 0072871510 Loan Paid in Full 0 9.250% 360 1 Group 1 0072922594 Loan Paid in Full 0 8.350% 360 1 Group 1 0073006710 Loan Paid in Full 0 7.500% 360 2 Group 1 0073016958 Loan Paid in Full 0 8.700% 360 2 Group 1 0073028797 Loan Paid in Full 0 8.625% 360 2 Group 1 0073517559 Loan Paid in Full 0 7.650% 360 1 Group 1 0073536799 Loan Paid in Full (1) 9.000% 360 1 Group 1 0073689234 Loan Paid in Full 0 7.775% 240 1 Group 1 0073818999 Loan Paid in Full 0 7.550% 360 1 Group 1 0073836512 Loan Paid in Full 0 8.810% 360 1 Group 1 0073846156 Loan Paid in Full (1) 6.640% 360 1 Group 1 0073877631 Loan Paid in Full 0 8.800% 360 1 Group 1 0073883357 Loan Paid in Full (1) 7.200% 360 1 Group 1 0073918872 Loan Paid in Full 0 5.500% 360 1 Group 1 0073933590 Loan Paid in Full 0 7.990% 360 1 Group 1 0073951113 Loan Paid in Full 0 9.250% 360 1 Group 1 0074059239 Loan Paid in Full 0 8.025% 360 1 Group 1 0074163957 Loan Paid in Full 0 5.800% 360 1 Group 1 0074188079 Loan Paid in Full 0 6.300% 360 1 Group 1 0074250234 Loan Paid in Full (1) 7.750% 360 1 Group 1 0074410473 Loan Paid in Full 0 9.050% 360 1 Group 1 0074422312 Loan Paid in Full 0 6.650% 360 1 Group 1 0074502915 Loan Paid in Full (1) 7.200% 360 1 Group 1 0074569278 Loan Paid in Full (1) 8.700% 360 1 Group 1 0074599671 Loan Paid in Full 0 9.200% 360 1 Group 1 0074724915 Loan Paid in Full (1) 6.375% 360 1 Group 1 0074769159 Loan Paid in Full 0 8.800% 360 1 Group 1 0074870999 Loan Paid in Full 0 7.990% 360 1 Group 1 0074882838 Loan Paid in Full 0 8.650% 360 1 Group 1 0074892035 Loan Paid in Full 0 7.900% 360 1 Group 1 0075021030 Loan Paid in Full 0 10.250% 360 1 Group 1 0075033191 Loan Paid in Full 0 7.950% 360 1 Group 1 0075077958 Loan Paid in Full 0 8.750% 360 1 Group 1 0075182352 Loan Paid in Full (1) 7.450% 360 1 Group 1 0075188235 Loan Paid in Full (1) 7.500% 360 1 Group 1 0075280073 Loan Paid in Full 0 8.150% 360 1 Group 1 0075315275 Loan Paid in Full 0 8.600% 360 1 Group 1 0075332593 Loan Paid in Full 0 7.300% 360 1 Group 1 0075435719 Loan Paid in Full (1) 7.100% 360 1 Group 1 0075486951 Loan Paid in Full (1) 7.950% 360 1 Group 1 0076020155 Loan Paid in Full 0 9.150% 360 1 Group 1 0076077916 Loan Paid in Full 0 7.600% 360 1 Group 2 0063527311 Loan Paid in Full 0 11.800% 360 6 Group 2 0066312950 Loan Paid in Full 0 7.825% 360 5 Group 2 0069684991 Loan Paid in Full 0 7.250% 360 4 Group 2 0072363112 Loan Paid in Full 0 6.200% 360 1 Group 2 0073356479 Loan Paid in Full (2) 7.875% 360 1 Group 2 0073828592 Loan Paid in Full 0 5.750% 360 2 Group 2 0074021676 Loan Paid in Full 0 7.950% 360 2 Group 2 0074561390 Loan Paid in Full 0 9.150% 360 1 Group 2 0074651035 Loan Paid in Full 0 5.550% 360 1 Group 3 0067946939 Loan Paid in Full 0 7.900% 360 1 Group 3 0068609718 Loan Paid in Full 0 6.375% 360 4 Group 3 0071289292 Loan Paid in Full 0 6.400% 360 1 Group 3 0071905038 Loan Paid in Full 0 7.380% 360 1 Group 3 0072495997 Loan Paid in Full 0 5.400% 360 2 Group 3 0072520513 Loan Paid in Full 0 6.300% 360 1 Group 3 0073425597 Loan Paid in Full (1) 6.650% 360 1 Group 3 0073970675 Loan Paid in Full (1) 7.750% 360 1 Group 3 0074018193 Loan Paid in Full 0 6.350% 360 1 Group 3 0074351552 Loan Paid in Full 0 6.700% 360 1 Group 3 0074358631 Loan Paid in Full 0 9.475% 360 1 Group 3 0074390634 Loan Paid in Full (1) 6.550% 360 1 Group 3 0074404039 Loan Paid in Full (1) 7.800% 360 1 Group 3 0074491275 Loan Paid in Full 0 7.200% 360 1 Group 3 0074616277 Loan Paid in Full (1) 6.150% 360 1 Group 3 0074663519 Loan Paid in Full (1) 6.900% 360 1 Group 3 0074686197 Loan Paid in Full (1) 6.750% 360 1 Group 3 0074687757 Loan Paid in Full 0 7.000% 360 1 Group 3 0074743790 Loan Paid in Full 0 6.250% 360 1 Group 3 0074902594 Loan Paid in Full 0 6.500% 360 1 Group 3 0074903634 Loan Paid in Full 0 6.650% 360 1 Group 3 0074965591 Loan Paid in Full 0 7.300% 360 1 Group 3 0075020271 Loan Paid in Full (1) 6.300% 360 1 Group 3 0075212795 Loan Paid in Full 0 7.500% 360 1 Group 3 0075785758 Loan Paid in Full (1) 7.050% 360 1 Group 3 0075942797 Loan Paid in Full 0 8.950% 360 1 Group 3 0076142959 Loan Paid in Full (1) 6.950% 360 1 Group 3 0076610435 Loan Paid in Full 0 8.000% 360 1 Group 4 0063346670 Loan Paid in Full (1) 6.250% 360 7 Group 4 0073390312 Loan Paid in Full (1) 6.850% 360 1 Group 4 0075788471 Loan Paid in Full (1) 10.600% 360 1 Group 4 0076240399 Loan Paid in Full 0 11.250% 360 1

Prepayment - Voluntary Prepayments

~~Item~~Summary 9SMM CPR PSA Current Month 1.01061% ~~Financial~~Current ~~Statements~~Month 12.016% Current Month 5,126.426% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 12.016% N/A Jun-2005 5,126.426% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group 1 SMM CPR PSA Current Month 1.120% Current Month 12.644% Current Month 5,488.738% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 12.644% N/A Jun-2005 5,488.738% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group 2 SMM CPR PSA Current Month 0.707% Current Month 8.160% Current Month 3,102.406% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 8.160% N/A Jun-2005 3,102.406% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group 3 SMM CPR PSA Current Month 1.291% Current Month 14.434% Current Month 6,400.838% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 14.434% N/A Jun-2005 6,400.838% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group 4 SMM CPR PSA Current Month 0.291% Current Month 3.435% Current Month 1,351.998% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 3.435% N/A Jun-2005 1,351.998% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Single Month Mortality (SMM): (Partial and ~~Exhibits~~full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled Principal) Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12) PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS)) Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal Balance))

~~(a)~~Realized ~~Not~~Loss ~~applicable~~Detail Report - Loans with Losses during Current Period Summary # Loans Prior Realized Current with Principal Loss/(bGain) ~~Not~~Loss ~~applicable~~Group Losses Balance Amount Percentage Group 1 0 0.00 0.00 0.000% Group 2 0 0.00 0.00 0.000% Group 3 0 0.00 0.00 0.000% Group 4 0 0.00 0.00 0.000% Total 0 0.00 0.00 0.000%

~~(c)~~Realized ~~Exhibits~~Loss Loan Detail Report - Loans With Losses during Current Period Original Current Loan Principal Note LTV at Original Group Number Balance Rate State Origination Term No losses this period.

~~Exhibit~~Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued) Prior Cumulative Loan Principal Realized Realized Group Number Balance Loss/(Gain) Loss/(Gain) No. ~~Description~~losses this period.

Realized Loss Report - Collateral Summary

4.1 Pooling and Servicing Agreement, dated as of May 1, 2005, by and among Park Place Securities Inc. as Depositor, HomEq Servicing Corporation as Master Servicer and Wells Fargo Bank, N.A. as Trustee relating to the Series 2005-WHQ3 Certificates.

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 thereunto duly authorized.

Dated: [], 2005

PARK PLACE SECURITIES, INC.

By: Name: Title:

Index to Exhibits

Exhibit No.	Description	Sequentially Numbered Page
4.1	Pooling and Servicing Agreement, dated as of May 1, 2005, by and among Park Place Securities Inc. as Depositor, HomEq Servicing Corporation as Master Servicer and Wells Fargo Bank, N.A. as Trustee relating to the Series 2005-WHQ3 Certificates.	7

EXHIBIT 4.1

Filing Compare · Park Place Securities Inc. Asset Backed Pass Through Certificates Series 2005-WHQ3