8-K 1 mab05he1_10508.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): August 25, 2005 MASTR ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2005-HE1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106982-67 54-2173144 Pooling and Servicing Agreement) (Commission 54-2173145 (State or other File Number) 54-2173146 jurisdiction 54-2173147 of Incorporation) 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 August 25, 2005 a distribution was made to holders of MASTR ASSET BACKED SECURITIES TRUST, Mortgage Pass-Through Certificates, Series 2005-HE1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-HE1 Trust, relating to the August 25, 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. MASTR ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2005-HE1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Master Servicer By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 8/30/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-HE1 Trust, relating to the August 25, 2005 distribution. EX-99.1

MASTR Asset Backed Securities Mortgage Pass-Through Certificates Record Date: 57/3129/2005 Distribution Date: 68/2725/2005 MASTR Asset Backed Securities Mortgage Pass-Through Certificates Series 2005-HE1 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 A-1 57643LJB3 SEN 3.~~19000~~56000% ~~219~~192,~~528~~374,~~913~~820.1441 ~~641~~589,~~939~~735.1370 A-2 57643LJC1 SEN 3.~~29000~~66000% 175,748,000.00 ~~530~~553,~~026~~899.6811 A-3 57643LJD9 SEN 3.~~41000~~78000% 17,050,000.00 5355,~~295~~497.4675 M-1 57643LJE7 MEZ 3.~~52000~~89000% 32,049,000.00 ~~103~~107,~~411~~355.4425 M-2 57643LJF4 MEZ 3.~~54000~~91000% 16,159,000.00 5254,~~435~~406.9546 M-3 57643LJG2 MEZ 3.~~57000~~94000% 9,696,000.00 3132,~~730~~896.1637 M-4 57643LJH0 MEZ 34.~~72000~~09000% 8,888,000.00 3031,~~308~~303.0804 M-5 57643LJJ6 MEZ 34.~~74000~~11000% 8,349,000.00 2829,~~623~~548.1550 M-6 57643LJK3 MEZ 34.~~79000~~16000% 8,080,000.00 28,~~071~~944.2736 M-7 57643LJL1 MEZ 4.~~34000~~71000% 6,464,000.00 2526,~~715~~216.9591 M-8 57643LJM9 MEZ 4.~~39000~~76000% 5,925,000.00 2324,~~843~~285.1992 M-9 57643LJN7 MEZ 45.~~84000~~21000% 5,386,000.00 2324,~~895~~163.8969 M-10 57643LJP2 MEZ 6.~~59000~~96000% 6,194,000.00 37,~~416~~122.9271 M-11 57643LJQ0 MEZ 6.~~59000~~96000% 5,386,000.00 32,~~535~~280.9309 CE MAB5HE1CE SUB 0.00000% 5,386,447.34 1,~~279~~142,~~441~~597.7743 P MAB05HE1P Pre-Pay 0.00000% 100.00 ~~210~~406,~~132~~199.9231 R MAB05HE1R RES 0.00000% 0.00 0.00 R-X MAB5HE1RX RES 0.00000% 0.00 0.00 Totals ~~530~~503,~~289~~135,~~460~~367.4875 3,~~132~~176,~~823~~452.8960

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 1412,~~373~~339,~~298~~449.1398 0.00 ~~205~~180,~~155~~035,~~615~~370.0143 1512,~~015~~929,~~237~~185.2668 0.00 A-2 0.00 0.00 175,748,000.00 ~~530~~553,~~026~~899.6811 0.00 A-3 0.00 0.00 17,050,000.00 5355,~~295~~497.4675 0.00 M-1 0.00 0.00 32,049,000.00 ~~103~~107,~~411~~355.4425 0.00 M-2 0.00 0.00 16,159,000.00 5254,~~435~~406.9546 0.00 M-3 0.00 0.00 9,696,000.00 3132,~~730~~896.1637 0.00 M-4 0.00 0.00 8,888,000.00 3031,~~308~~303.0804 0.00 M-5 0.00 0.00 8,349,000.00 2829,~~623~~548.1550 0.00 M-6 0.00 0.00 8,080,000.00 28,~~071~~944.2736 0.00 M-7 0.00 0.00 6,464,000.00 2526,~~715~~216.9591 0.00 M-8 0.00 0.00 5,925,000.00 2324,~~843~~285.1992 0.00 M-9 0.00 0.00 5,386,000.00 2324,~~895~~163.8969 0.00 M-10 0.00 0.00 6,194,000.00 37,~~416~~122.9271 0.00 M-11 0.00 0.00 5,386,000.00 32,~~535~~280.9309 0.00 CE 0.00 0.00 5,386,447.34 1,~~279~~142,~~441~~597.7743 0.00 P 0.00 0.00 100.00 ~~210~~406,~~132~~199.9231 0.00 R 0.00 0.00 0.00 0.00 0.00 R-X 0.00 0.00 0.00 0.00 0.00 Totals 1412,~~373~~339,~~298~~449.1398 0.00 ~~515~~490,~~916~~795,~~162~~917.3577 1715,~~506~~515,~~122~~902.0258 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 227,884,000.00 ~~219~~192,~~528~~374,~~913~~820.1441 0.00 1412,~~373~~339,~~298~~449.1398 0.00 0.00 A-2 175,748,000.00 175,748,000.00 0.00 0.00 0.00 0.00 A-3 17,050,000.00 17,050,000.00 0.00 0.00 0.00 0.00 M-1 32,049,000.00 32,049,000.00 0.00 0.00 0.00 0.00 M-2 16,159,000.00 16,159,000.00 0.00 0.00 0.00 0.00 M-3 9,696,000.00 9,696,000.00 0.00 0.00 0.00 0.00 M-4 8,888,000.00 8,888,000.00 0.00 0.00 0.00 0.00 M-5 8,349,000.00 8,349,000.00 0.00 0.00 0.00 0.00 M-6 8,080,000.00 8,080,000.00 0.00 0.00 0.00 0.00 M-7 6,464,000.00 6,464,000.00 0.00 0.00 0.00 0.00 M-8 5,925,000.00 5,925,000.00 0.00 0.00 0.00 0.00 M-9 5,386,000.00 5,386,000.00 0.00 0.00 0.00 0.00 M-10 6,194,000.00 6,194,000.00 0.00 0.00 0.00 0.00 M-11 5,386,000.00 5,386,000.00 0.00 0.00 0.00 0.00 CE 5,386,634.00 5,386,447.34 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 R-X 0.00 0.00 0.00 0.00 0.00 0.00 Totals 538,644,734.00 ~~530~~503,~~289~~135,~~460~~367.4875 0.00 1412,~~373~~339,~~298~~449.1398 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.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 1412,~~373~~339,~~298~~449.1398 ~~205~~180,~~155~~035,~~615~~370.0143 0.~~90026336~~79003076 1412,~~373~~339,~~298~~449.1398 A-2 0.00 175,748,000.00 1.00000000 0.00 A-3 0.00 17,050,000.00 1.00000000 0.00 M-1 0.00 32,049,000.00 1.00000000 0.00 M-2 0.00 16,159,000.00 1.00000000 0.00 M-3 0.00 9,696,000.00 1.00000000 0.00 M-4 0.00 8,888,000.00 1.00000000 0.00 M-5 0.00 8,349,000.00 1.00000000 0.00 M-6 0.00 8,080,000.00 1.00000000 0.00 M-7 0.00 6,464,000.00 1.00000000 0.00 M-8 0.00 5,925,000.00 1.00000000 0.00 M-9 0.00 5,386,000.00 1.00000000 0.00 M-10 0.00 6,194,000.00 1.00000000 0.00 M-11 0.00 5,386,000.00 1.00000000 0.00 CE 0.00 5,386,447.34 0.99996535 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 R-X 0.00 0.00 0.00000000 0.00 Totals 1412,~~373~~339,~~298~~449.1398 ~~515~~490,~~916~~795,~~162~~917.3577 0.~~95780415~~91116814 1412,~~373~~339,~~298~~449.1398

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 227,884,000.00 ~~963~~844.~~33622870~~17870675 0.00000000 6354.~~07287098~~14794360 0.00000000 A-2 175,748,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 17,050,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 32,049,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 16,159,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 9,696,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 8,888,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 8,349,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 8,080,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 6,464,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 5,925,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 5,386,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-10 6,194,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-11 5,386,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 5,386,634.00 999.96534756 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 R-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 6354.~~07287098~~14794360 ~~900~~790.~~26335772~~03076315 0.~~90026336~~79003076 6354.~~07287098~~14794360 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 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 CE 0.00000000 0.00000000 999.96534756 0.99996535 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 R-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 227,884,000.00 3.~~19000~~56000% ~~219~~192,~~528~~374,~~913~~820.1441 ~~641~~589,~~939~~735.1370 0.00 0.00 A-2 175,748,000.00 3.~~29000~~66000% 175,748,000.00 ~~530~~553,~~026~~899.6811 0.00 0.00 A-3 17,050,000.00 3.~~41000~~78000% 17,050,000.00 5355,~~295~~497.4675 0.00 0.00 M-1 32,049,000.00 3.~~52000~~89000% 32,049,000.00 ~~103~~107,~~411~~355.4425 0.00 0.00 M-2 16,159,000.00 3.~~54000~~91000% 16,159,000.00 5254,~~435~~406.9646 0.00 0.00 M-3 9,696,000.00 3.~~57000~~94000% 9,696,000.00 3132,~~730~~896.1637 0.00 0.00 M-4 8,888,000.00 34.~~72000~~09000% 8,888,000.00 3031,~~308~~303.0804 0.00 0.00 M-5 8,349,000.00 34.~~74000~~11000% 8,349,000.00 2829,~~623~~548.1550 0.00 0.00 M-6 8,080,000.00 34.~~79000~~16000% 8,080,000.00 28,~~071~~944.2736 0.00 0.00 M-7 6,464,000.00 4.~~34000~~71000% 6,464,000.00 2526,~~715~~216.9591 0.00 0.00 M-8 5,925,000.00 4.~~39000~~76000% 5,925,000.00 2324,~~843~~285.1992 0.00 0.00 M-9 5,386,000.00 45.~~84000~~21000% 5,386,000.00 2324,~~895~~163.8969 0.00 0.00 M-10 6,194,000.00 6.~~59000~~96000% 6,194,000.00 37,~~416~~122.9271 0.00 0.00 M-11 5,386,000.00 6.~~59000~~96000% 5,386,000.00 32,~~535~~280.9309 0.00 0.00 CE 5,386,634.00 0.00000% 5,386,447.34 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 R-X 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 538,644,734.00 1,~~643~~627,~~249~~655.2186 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~641~~589,~~939~~735.1370 0.00 ~~205~~180,~~155~~035,~~615~~370.0143 A-2 0.00 0.00 ~~530~~553,~~026~~899.6811 0.00 175,748,000.00 A-3 0.00 0.00 5355,~~295~~497.4675 0.00 17,050,000.00 M-1 0.00 0.00 ~~103~~107,~~411~~355.4425 0.00 32,049,000.00 M-2 0.00 0.00 5254,~~435~~406.9546 0.00 16,159,000.00 M-3 0.00 0.00 3132,~~730~~896.1637 0.00 9,696,000.00 M-4 0.00 0.00 3031,~~308~~303.0804 0.00 8,888,000.00 M-5 0.00 0.00 2829,~~623~~548.1550 0.00 8,349,000.00 M-6 0.00 0.00 28,~~071~~944.2736 0.00 8,080,000.00 M-7 0.00 0.00 2526,~~715~~216.9591 0.00 6,464,000.00 M-8 0.00 0.00 2324,~~843~~285.1992 0.00 5,925,000.00 M-9 0.00 0.00 2324,~~895~~163.8969 0.00 5,386,000.00 M-10 0.00 0.00 37,~~416~~122.9271 0.00 6,194,000.00 M-11 0.00 0.00 32,~~535~~280.9309 0.00 5,386,000.00 CE 0.00 0.00 1,~~279~~142,~~441~~597.7743 0.00 5,386,447.34 P 0.00 0.00 ~~210~~406,~~132~~199.9231 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 R-X 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 3,~~132~~176,~~823~~452.8960 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.

Interest Distribution 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 A-1 227,884,000.00 3.~~19000~~56000% ~~963~~844.~~33622870~~17870675 2.~~81695569~~58787673 0.00000000 0.00000000 A-2 175,748,000.00 3.~~29000~~66000% 1000.00000000 3.~~01583335~~15166665 0.00000000 0.00000000 A-3 17,050,000.00 3.~~41000~~78000% 1000.00000000 3.~~12583343~~25500000 0.00000000 0.00000000 M-1 32,049,000.00 3.~~52000~~89000% 1000.00000000 3.~~22666667~~34972230 0.00000000 0.00000000 M-2 16,159,000.00 3.~~54000~~91000% 1000.00000000 3.~~24500031~~36694474 0.00000000 0.00000000 M-3 9,696,000.00 3.~~57000~~94000% 1000.00000000 3.~~27250000~~39277743 0.00000000 0.00000000 M-4 8,888,000.00 34.~~72000~~09000% 1000.00000000 3.~~41000000~~52194419 0.00000000 0.00000000 M-5 8,349,000.00 34.~~74000~~11000% 1000.00000000 3.~~42833273~~53916637 0.00000000 0.00000000 M-6 8,080,000.00 34.~~79000~~16000% 1000.00000000 3.~~47416708~~58222277 0.00000000 0.00000000 M-7 6,464,000.00 4.~~34000~~71000% 1000.00000000 34.~~97833385~~05583385 0.00000000 0.00000000 M-8 5,925,000.00 4.~~39000~~76000% 1000.00000000 4.~~02416709~~09888945 0.00000000 0.00000000 M-9 5,386,000.00 45.~~84000~~21000% 1000.00000000 4.~~43666729~~48638879 0.00000000 0.00000000 M-10 6,194,000.00 6.~~59000~~96000% 1000.00000000 65.~~04083306~~99333387 0.00000000 0.00000000 M-11 5,386,000.00 6.~~59000~~96000% 1000.00000000 65.~~04083364~~99333271 0.00000000 0.00000000 CE 5,386,634.00 0.00000% 999.96534756 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 2.~~81695569~~58787673 0.00000000 ~~900~~790.~~26335772~~03076315 A-2 0.00000000 0.00000000 3.~~01583335~~15166665 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 3.~~12583343~~25500000 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 3.~~22666667~~34972230 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.~~24499969~~36694474 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~27250000~~39277743 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~41000000~~52194419 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.~~42833273~~53916637 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.~~47416708~~58222277 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 34.~~97833385~~05583385 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 4.~~02416709~~09888945 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 4.~~43666729~~48638879 0.00000000 1000.00000000 M-10 0.00000000 0.00000000 65.~~04083306~~99333387 0.00000000 1000.00000000 M-11 0.00000000 0.00000000 65.~~04083364~~99333271 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~237~~212.~~52157098~~11714588 0.00000000 999.96534756 P 0.00000000 0.00000000 ~~2101329~~4061993.~~20000000~~10000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-X 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.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 1714,~~508~~569,~~573~~773.2908 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 57119,~~066~~744.0861 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~210~~1,~~132~~142,597.9243 Total Deposits 1715,~~775~~832,~~772~~115.2912 Withdrawals Reimbursement for Servicer Advances 3190,~~461~~220.9390 Payment of Service Fee ~~238~~225,~~188~~991.3464 Payment of Interest and Principal 1715,~~506~~515,~~122~~902.0258 Total Withdrawals (Pool Distribution Amount) 1715,~~775~~832,~~772~~115.2912 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~220~~209,~~953~~639.9474 Credit Risk Manager Fee - Murray Hill Co. 6,~~628~~289.6219 Trust Administration Fee 10,~~605~~062.7871 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~238~~225,~~188~~991.3464

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 0.00 65,~~129~~643.6755 65,~~129~~643.6755 0.00

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 3764 0 0 0 3764 710,~~062~~586,~~422~~022.4239 0.00 0.00 0.00 710,~~062~~586,~~422~~022.4239 60 Days 720 0 0 0 720 13,~~125~~443,~~698~~604.2996 0.00 0.00 0.00 13,~~125~~443,~~698~~604.2996 90 Days 214 0 0 0 214 ~~257~~2,~~775~~897,674.9005 0.00 0.00 0.00 ~~257~~2,~~775~~897,674.9005 120 Days 03 0 0 0 03 0353,803.0013 0.00 0.00 0.00 0353,803.0013 150 Days 03 0 0 0 03 0449,569.0077 0.00 0.00 0.00 0449,569.0077 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 46104 0 0 0 46104 817,~~445~~730,~~896~~674.6130 0.00 0.00 0.00 817,~~445~~730,~~896~~674.6130 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 12.~~261937~~279202% 0.000000% 0.000000% 0.000000% 12.~~261937~~279202% 12.~~368137~~155516% 0.000000% 0.000000% 0.000000% 12.~~368137~~155516% 60 Days 0.~~238745~~712251% 0.000000% 0.000000% 0.000000% 0.~~238745~~712251% 0.~~218071~~701184% 0.000000% 0.000000% 0.000000% 0.~~218071~~701184% 90 Days 0.~~068213~~498575% 0.000000% 0.000000% 0.000000% 0.~~068213~~498575% 0.~~049937~~590022% 0.000000% 0.000000% 0.000000% 0.~~049937~~590022% 120 Days 0.~~000000~~106838% 0.000000% 0.000000% 0.000000% 0.~~000000~~106838% 0.~~000000~~072041% 0.000000% 0.000000% 0.000000% 0.~~000000~~072041% 150 Days 0.~~000000~~106838% 0.000000% 0.000000% 0.000000% 0.~~000000~~106838% 0.~~000000~~091541% 0.000000% 0.000000% 0.000000% 0.~~000000~~091541% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 13.~~568895~~703704% 0.000000% 0.000000% 0.000000% 13.~~568895~~703704% 13.~~636145~~610304% 0.000000% 0.000000% 0.000000% 13.~~636145~~610304%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 89 0 0 0 89 ~~723~~795,~~523~~734.3330 0.00 0.00 0.00 ~~723~~795,~~523~~734.3330 60 Days 31 0 0 0 31 ~~255~~101,~~904~~630.2115 0.00 0.00 0.00 ~~255~~101,~~904~~630.2115 90 Days 14 0 0 0 14 96200,~~050~~279.3741 0.00 0.00 0.00 96200,~~050~~279.3741 120 Days 02 0 0 0 02 0239,921.0079 0.00 0.00 0.00 0239,921.0079 150 Days 01 0 0 0 01 096,050.0037 0.00 0.00 0.00 096,050.0037 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1217 0 0 0 1217 1,~~075~~433,~~477~~616.9102 0.00 0.00 0.00 1,~~075~~433,~~477~~616.9102 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~346801~~615799% 0.000000% 0.000000% 0.000000% 1.~~346801~~615799% 1.~~042640~~206685% 0.000000% 0.000000% 0.000000% 1.~~042640~~206685% 60 Days 0.~~505051~~179533% 0.000000% 0.000000% 0.000000% 0.~~505051~~179533% 0.~~368773~~154116% 0.000000% 0.000000% 0.000000% 0.~~368773~~154116% 90 Days 0.~~168350~~718133% 0.000000% 0.000000% 0.000000% 0.~~168350~~718133% 0.~~138414~~303712% 0.000000% 0.000000% 0.000000% 0.~~138414~~303712% 120 Days 0.~~000000~~359066% 0.000000% 0.000000% 0.000000% 0.~~000000~~359066% 0.~~000000~~363827% 0.000000% 0.000000% 0.000000% 0.~~000000~~363827% 150 Days 0.~~000000~~179533% 0.000000% 0.000000% 0.000000% 0.~~000000~~179533% 0.~~000000~~145655% 0.000000% 0.000000% 0.000000% 0.~~000000~~145655% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 23.~~020202~~052065% 0.000000% 0.000000% 0.000000% 23.~~020202~~052065% 12.~~549827~~173995% 0.000000% 0.000000% 0.000000% 12.~~549827~~173995% 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2955 0 0 0 2955 69,~~338~~790,~~899~~288.09 0.00 0.00 0.00 69,~~338~~790,~~899~~288.09 60 Days 419 0 0 0 419 ~~869~~3,~~794~~341,974.0881 0.00 0.00 0.00 ~~869~~3,~~794~~341,974.0881 90 Days 110 0 0 0 110 ~~161~~2,~~725~~697,394.5364 0.00 0.00 0.00 ~~161~~2,~~725~~697,394.5364 120 Days 01 0 0 0 01 0113,881.0034 0.00 0.00 0.00 0113,881.0034 150 Days 02 0 0 0 02 0353,519.0040 0.00 0.00 0.00 0353,519.0040 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 3487 0 0 0 3487 716,~~370~~297,~~418~~058.7028 0.00 0.00 0.00 716,~~370~~297,~~418~~058.7028 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 12.~~240376~~443359% 0.000000% 0.000000% 0.000000% 12.~~240376~~443359% 12.~~418689~~302680% 0.000000% 0.000000% 0.000000% 12.~~418689~~302680% 60 Days 0.~~171086~~844069% 0.000000% 0.000000% 0.000000% 0.~~171086~~844069% 0.~~194666~~786034% 0.000000% 0.000000% 0.000000% 0.~~194666~~786034% 90 Days 0.~~042772~~444247% 0.000000% 0.000000% 0.000000% 0.~~042772~~444247% 0.~~036195~~634428% 0.000000% 0.000000% 0.000000% 0.~~036195~~634428% 120 Days 0.~~000000~~044425% 0.000000% 0.000000% 0.000000% 0.~~000000~~044425% 0.~~000000~~026785% 0.000000% 0.000000% 0.000000% 0.~~000000~~026785% 150 Days 0.~~000000~~088849% 0.000000% 0.000000% 0.000000% 0.~~000000~~088849% 0.~~000000~~083148% 0.000000% 0.000000% 0.000000% 0.~~000000~~083148% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 13.~~454234~~864949% 0.000000% 0.000000% 0.000000% 13.~~454234~~864949% 13.~~649550~~833076% 0.000000% 0.000000% 0.000000% 13.~~649550~~833076%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 57119,~~066~~744.0861

SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class R 117,962,734.00 21.89991409% 117,962,547.34 2224.~~86467375~~03494876% 0.000000% 0.000000% Class M-1 85,913,734.00 15.94998124% 85,913,547.34 1617.~~65261793~~50494334% 6.~~212056~~530005% 0.000000% Class M-2 69,754,734.00 12.95004473% 69,754,547.34 1314.~~52051989~~21253617% 3.~~132098~~292407% 0.000000% Class M-3 60,058,734.00 11.14997144% 60,058,547.34 1112.~~64114477~~23696962% 1.~~879375~~975567% 0.000000% Class M-4 51,170,734.00 9.49990425% 51,170,547.34 910.~~91838424~~42603361% 1.~~722761~~810936% 0.000000% Class CE 100.00 0.00001857% 100.00 0.~~00001938~~00002038% 1.~~044055~~097492% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.~~000019~~000020% 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

~~COLLATERAL~~Summary ~~STATEMENT~~12 ~~Collateral~~Month ~~Description~~REO ~~Mixed~~History* ~~Fixed~~New &REO ~~Arm~~Loans ~~Weighted~~Month ~~Average~~REO ~~Gross~~Percentage ~~Coupon~~Loans 7in REO 0 Sep-04 0.~~156834~~000% ~~Weighted~~Original ~~Average~~Principal ~~Net~~Balance ~~Coupon~~0.00 6Oct-04 0.~~656834~~000% ~~Weighted~~Current ~~Average~~Principal ~~Pass~~Balance 0.00 Nov-~~Through~~04 ~~Rate~~0.000% 6Dec-04 0.~~617834~~000% ~~Weighted~~Current ~~Average~~REO ~~Maturity(Stepdown~~Total ~~Calculation)~~Jan-05 ~~349~~0.000% ~~Beginning~~Loans ~~Scheduled~~in ~~Collateral~~REO ~~Loan~~0 ~~Count~~Feb-05 ~~2,991~~0.000% ~~Number~~Original OfPrincipal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-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 1 12 Month REO History* New REO Loans ~~Paid~~Month InREO ~~Full~~Percentage 59Loans ~~Ending~~in ~~Scheduled~~REO ~~Collateral~~0 ~~Loan~~Sep-04 ~~Count~~0.000% ~~2,932~~Original ~~Beginning~~Principal ~~Scheduled~~Balance ~~Collateral~~0.00 Oct-04 0.000% Current Principal Balance ~~530,289,460~~0.4800 ~~Ending~~Nov-04 ~~Scheduled~~0.000% ~~Collateral~~Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance ~~515,916,162~~0.3500 ~~Ending~~Mar-05 ~~Actual~~0.000% ~~Collateral~~Current Principal Balance at0.00 31Apr-05 0.000% May-~~2005~~05 ~~516,207,235~~0.47000% ~~Monthly~~Jun-05 ~~P&I~~0.000% ~~Constant~~Jul-05 ~~3,492,118~~0.98000% ~~Special~~Aug-05 ~~Servicing~~0.000% ~~Fee~~*The 0text reported in the above table is presented graphically on the monthly bond remittance report.00 ~~Prepayment~~The ~~Penalties~~monthly ~~210,132~~bond remittance report can be viewed online at www.92ctslink.com. ~~Realized~~Group ~~Loss~~2 ~~Amount~~12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-04 0.000% Original Principal Balance 0.00 ~~Cumulative~~Oct-04 ~~Realized~~0.000% ~~Loss~~Current Principal Balance 0.00 ~~Scheduled~~Nov-04 0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal ~~329,457~~Balance 0.8000 ~~Unscheduled~~Mar-05 0.000% Current Principal ~~14,043,840~~Balance 0.3300 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-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.

~~Other~~REO ~~Income~~Loan ~~(1,781~~Detail - All Mortgage Loans in REO during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance No REO loans this period.~~49)~~

~~Miscellaneous~~REO ~~Reporting~~Loan ~~Credit~~Detail ~~Enhancement~~- ~~0.228647%~~All ~~Excess~~Mortgage ~~Cash~~Loans ~~1,285,571.43~~in ~~Extra~~REO ~~Principal~~during ~~Distribution~~Current ~~Amount~~Period ~~1,285,571.43~~(continued) ~~Overcollaterization~~Current ~~Amount~~Paid ~~5,386,447.34~~Current ~~Overcollaterization~~Approximate ~~Deficiency~~Loan ~~Amount~~Principal ~~0.00~~To ~~Overcollaterization~~Months ~~Release~~Loan ~~Amount~~Delinquent ~~0.00~~Group ~~Overcollaterization~~Number ~~Target~~Balance ~~Amount~~Date ~~5,386,447.34~~Delinquent ~~Stepdown~~Rate ~~Date~~Interest NONo ~~Trigger~~REO ~~Event~~loans inthis ~~effect NO~~period.

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

~~Group~~Summary ~~Level~~12 ~~Collateral~~Month ~~Statement~~Foreclosure ~~Group~~History* ~~Group~~New 1Foreclosure ~~Group~~Loans 2Month ~~Total~~Foreclosure ~~Collateral~~Percentage ~~Description~~Loans ~~Mixed~~in ~~Fixed~~Foreclosure ~~Mixed~~0 ~~ARM~~Sep-04 ~~Mixed~~0.000% ~~Fixed~~Original &Principal ~~Arm~~Balance ~~Weighted Average Coupon Rate 7~~0.~~758247~~00 ~~7.059611~~Oct-04 70.~~156834~~000% ~~Weighted~~Current ~~Average~~Principal ~~Net~~Balance ~~Rate 7~~0.~~258247~~00 ~~6.559611~~Nov-04 60.~~656834~~000% ~~Weighted~~Dec-04 ~~Average~~0.000% ~~Maturity~~Current ~~350~~Foreclosure ~~350~~Total ~~349~~Jan-05 ~~Beginning~~0.000% ~~Loan~~Loans ~~Count~~in ~~610~~Foreclosure ~~2,381~~0 ~~2,991~~Feb-05 ~~Loans~~0.000% ~~Paid~~Original InPrincipal ~~Full~~Balance 160.00 43Mar-05 590.000% ~~Ending~~Current ~~Loan~~Principal ~~Count~~Balance ~~594~~0.00 ~~2,338~~Apr-05 ~~2,932~~0.000% ~~Beginning~~May-05 ~~Scheduled~~0.000% ~~Balance~~Jun-05 ~~73,795,248~~0.92000% ~~456,494,211~~Jul-05 0.56000% ~~530,289,460~~Aug-05 0.48000% ~~Ending~~*The ~~Scheduled~~text ~~Balance~~reported ~~69,344,292.83~~in ~~446,571,869.52~~the ~~515,916,162.35~~above ~~Record~~table ~~Date~~is ~~05/31/2005~~presented ~~05/31/2005~~graphically ~~05/31/2005~~on ~~Principal~~the ~~And~~monthly ~~Interest~~bond ~~Constant~~remittance ~~536,188~~report.41 ~~2,955,930.57~~The ~~3,492,118.98~~monthly ~~Scheduled~~bond ~~Principal~~remittance ~~59,086.94~~report ~~270,370.86~~can ~~329,457.80~~be ~~Unscheduled~~viewed ~~Principal~~online ~~4,391,869.15~~at ~~9,651,971~~www.~~18 14,043,840~~ctslink.33com. ~~Scheduled~~Group ~~Interest~~1 ~~477,101.47~~12 ~~2,685,559.71~~Month ~~3,162,661.18~~Foreclosure ~~Servicing~~History* ~~Fees~~New ~~30,748.02~~Foreclosure ~~190,205.92~~Loans ~~220,953.94~~Month ~~Master~~Foreclosure ~~Servicing~~Percentage ~~Fees~~Loans ~~0.00~~in Foreclosure 0~~.00~~ Sep-04 0.00000% ~~Trustee~~Original ~~Fee~~Principal ~~0.00~~Balance 0.00 Oct-04 0.00000% ~~FRY~~Current ~~Amount~~Principal Balance 0.00 Nov-04 0.00000% Dec-04 0.00000% ~~Special~~Current ~~Hazard~~Foreclosure ~~Fee~~Total ~~0.00~~Jan-05 0.00000% ~~0.00~~Loans ~~Other~~in ~~Fee~~Foreclosure ~~2,398.34~~0 ~~14,836.06~~Feb-05 ~~17,234~~0.40000% ~~Pool~~Original ~~Insurance~~Principal ~~Fee~~Balance 0.00 ~~0.00~~Mar-05 0.00000% ~~Spread~~Current 1Principal Balance 0.00 Apr-05 0.00000% May-05 0.00000% ~~Spread~~Jun-05 2 0.00000% Jul-05 0.00000% Aug-05 0.00000% ~~Spread~~*The 3text ~~0.00~~reported ~~0.00~~in ~~0.00~~the ~~Net~~above ~~Interest~~table ~~443,955~~is presented graphically on the monthly bond remittance report.11 ~~2,480,517~~The monthly bond remittance report can be viewed online at www.73ctslink.com. Group 2~~,924,472.84~~ ~~Realized~~12 ~~Loss~~Month ~~Amount~~Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Sep-04 0.00000% Original Principal Balance 0.00 Oct-04 0.00000% ~~Cumulative~~Current ~~Realized~~Principal ~~Loss~~Balance 0.00 Nov-04 0.00000% Dec-04 0.00000% ~~Percentage~~Current ofForeclosure ~~Cumulative~~Total ~~Losses~~Jan-05 0.~~0000~~000% Loans in Foreclosure 0~~.0000~~ Feb-05 0.~~0000~~000% ~~Prepayment~~Original ~~Penalties~~Principal Balance 0.00 Mar-05 0.00000% Current Principal Balance 0.00 ~~Special~~Apr-05 ~~Servicing~~0.000% ~~Fee~~May-05 0.00000% Jun-05 0.00000% Jul-05 0.00000% ~~Pass~~Aug-~~Through~~05 ~~Rate 7~~0.~~219247~~000% 6*The text reported in the above table is presented graphically on the monthly bond remittance report.~~520611~~ 6The monthly bond remittance report can be viewed online at www.~~617834~~ctslink.com.

Prepayment - Voluntary Prepayments

Realized Loss Report - Collateral Summary

Filing Compare · MASTR ASSET BACKED SECURITIES TRUST 2005-HE1