8-K 1 nac05ap2_8k-200512.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): December 27, 2005 NOMURA ASSET ACCEPTANCE CORPORATION Mortgage Pass-Through Certificates, Series 2005-AP2 (Exact name of registrant as specified in its charter) New York (governing law of 333-109614-14 Pooling and Servicing Agreement) (Commission 54-2176783 (State or other File Number) 54-2176784 jurisdiction 54-2176785 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 December 27, 2005 a distribution was made to holders of NOMURA ASSET ACCEPTANCE CORPORATION, Mortgage Pass-Through Certificates, Series 2005-AP2 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-AP2 Trust, relating to the December 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. NOMURA ASSET ACCEPTANCE CORPORATION Mortgage Pass-Through Certificates, Series 2005-AP2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 12/31/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-AP2 Trust, relating to the December 27, 2005 distribution. EX-99.1 Nomura Securities International, Inc. Mortgage Pass-Through Certificates Record Date: 11/30/2005 Distribution Date: 12/27/2005 Nomura Securities International, Inc. Mortgage Pass-Through Certificates Series Nomura 2005-AP2 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

~~SECURITIES~~Certificateholder ~~AND~~Distribution ~~EXCHANGE~~Summary ~~COMMISSION~~Class CUSIP Certificate Beginning Interest Pass-Through Certificate Distribution Rate Balance A-1 65535VLG1 4.31375% 91,797,988.42 351,994.29 A-2 65535VLH9 4.77700% 61,064,000.00 243,085.61 A-3 65535VLJ5 5.03400% 20,332,000.00 85,292.74 A-4 65535VLK2 5.39600% 24,544,000.00 110,366.19 A-5 65535VLL0 4.97600% 27,527,000.00 114,145.29 A-IO 65535VLM8 4.50000% 0.00 96,772.50 M-1 65535VLN6 5.34200% 6,882,000.00 30,636.37 M-2 65535VLP1 5.59100% 5,505,000.00 25,648.71 M-3 65535VLQ9 5.88900% 4,128,000.00 20,258.16 P 65535VMC9 0.00000% 100.00 17,003.99 X 65535VLR7 0.00000% 1,789,252.81 286,565.68 R 65535VMD7 0.00000% 0.00 0.00 Totals 243,569,341.23 1,381,769.53

~~Washington~~Certificateholder Distribution Summary (continued) Class Principal Current Ending Total Cummulative Distribution Realized Certificate Distribution Realized Loss Balance Losses A-1 6,023,695.06 D0.C00 85,774,293.36 ~~20549~~6,375,689.35 0.00 A-2 0.00 0.00 61,064,000.00 243,085.61 0.00 A-3 0.00 0.00 20,332,000.00 85,292.74 0.00 A-4 0.00 0.00 24,544,000.00 110,366.19 0.00 A-5 0.00 0.00 27,527,000.00 114,145.29 0.00 A-IO 0.00 0.00 0.00 96,772.50 0.00 M-1 0.00 0.00 6,882,000.00 30,636.37 0.00 M-2 0.00 0.00 5,505,000.00 25,648.71 0.00 M-3 0.00 0.00 4,128,000.00 20,258.16 0.00 P 0.00 0.00 100.00 17,003.99 0.00 X 0.00 0.00 1,789,252.81 286,565.68 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 6,023,695.06 0.00 237,545,646.17 7,405,464.59 0.00 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.

~~FORM~~Principal 8Distribution Statement Class Original Beginning Scheduled UnScheduled Accretion Realized Face Certificate Principal Principal Loss Amount Balance Distribution Distribution A-K1 125,285,000.00 91,797,988.42 0.00 6,023,695.06 0.00 0.00 A-2 61,064,000.00 61,064,000.00 0.00 0.00 0.00 0.00 A-3 20,332,000.00 20,332,000.00 0.00 0.00 0.00 0.00 A-4 24,544,000.00 24,544,000.00 0.00 0.00 0.00 0.00 A-5 27,527,000.00 27,527,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 6,882,000.00 6,882,000.00 0.00 0.00 0.00 0.00 M-2 5,505,000.00 5,505,000.00 0.00 0.00 0.00 0.00 M-3 4,128,000.00 4,128,000.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 X 2,662.37 1,789,252.81 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 275,269,762.37 243,569,341.23 0.00 6,023,695.06 0.00 0.00

~~CURRENT~~Principal ~~REPORT~~Distribution Statement (continued) Class Total Ending Ending Total Principal Certificate Certificate Principal Reduction Balance Percentage Distribution A-1 6,023,695.06 85,774,293.36 0.684633 6,023,695.06 A-2 0.00 61,064,000.00 1.000000 0.00 A-3 0.00 20,332,000.00 1.000000 0.00 A-4 0.00 24,544,000.00 1.000000 0.00 A-5 0.00 27,527,000.00 1.000000 0.00 A-IO 0.00 0.00 0.000000 0.00 M-1 0.00 6,882,000.00 1.000000 0.00 M-2 0.00 5,505,000.00 1.000000 0.00 M-3 0.00 4,128,000.00 1.000000 0.00 P 0.00 100.00 1.000000 0.00 X 0.00 1,789,252.81 672.052649 0.00 R 0.00 0.00 0.000000 0.00 Totals 6,023,695.06 237,545,646.17 0.862956 6,023,695.06

~~Pursuant~~Principal toDistribution ~~Section~~Factors 13Statement orClass ~~15(d)~~Original ofBeginning ~~the~~Scheduled UnScheduled Accretion Face Certificate Principal Principal Amount Balance Distribution Distribution A-1 125,285,000.00 732.713321 0.000000 48.079938 0.000000 A-2 61,064,000.00 1000.000000 0.000000 0.000000 0.000000 A-3 20,332,000.00 1000.000000 0.000000 0.000000 0.000000 A-4 24,544,000.00 1000.000000 0.000000 0.000000 0.000000 A-5 27,527,000.00 1000.000000 0.000000 0.000000 0.000000 A-IO 0.00 0.000000 0.000000 0.000000 0.000000 M-1 6,882,000.00 1000.000000 0.000000 0.000000 0.000000 M-2 5,505,000.00 1000.000000 0.000000 0.000000 0.000000 M-3 4,128,000.00 1000.000000 0.000000 0.000000 0.000000 P 100.00 1000.000000 0.000000 0.000000 0.000000 X 2,662.37 672052.648580 0.000000 0.000000 0.000000 R 0.00 0.000000 0.000000 0.000000 0.000000

~~Securities~~Principal ~~Exchange~~Distribution ~~Act~~Factors ofStatement ~~1934~~(continued) Class Realized Total Ending Ending Total Loss Principal Certificate Certificate Principal Reduction Balance Percentage Distribution A-1 0.000000 48.079938 684.633383 0.684633 48.079938 A-2 0.000000 0.000000 1,000.000000 1.000000 0.000000 A-3 0.000000 0.000000 1,000.000000 1.000000 0.000000 A-4 0.000000 0.000000 1,000.000000 1.000000 0.000000 A-5 0.000000 0.000000 1,000.000000 1.000000 0.000000 A-IO 0.000000 0.000000 0.000000 0.000000 0.000000 M-1 0.000000 0.000000 1,000.000000 1.000000 0.000000 M-2 0.000000 0.000000 1,000.000000 1.000000 0.000000 M-3 0.000000 0.000000 1,000.000000 1.000000 0.000000 P 0.000000 0.000000 1,000.000000 1.000000 0.000000 X 0.000000 0.000000 672,052.648580 672.052649 0.000000 R 0.000000 0.000000 0.000000 0.000000 0.000000

~~Date~~Interest ofDistribution ~~Report~~Statement ~~(Date~~Class Accrual Accrual Current Beginning Current Payment of ~~earliest~~Dates ~~event~~Days ~~reported~~Certificate ~~September~~Certificate/ Accrued Unpaid Interest Rate Notional Balance Interest Shortfall A-1 11/25/05 - 12/26/05 32 4.31375% 91,797,988.42 ~~2005)~~351,994.29 0.00 A-2 11/01/05 - 11/30/05 30 4.77700% 61,064,000.00 243,085.61 0.00 A-3 11/01/05 - 11/30/05 30 5.03400% 20,332,000.00 85,292.74 0.00 A-4 11/01/05 - 11/30/05 30 5.39600% 24,544,000.00 110,366.19 0.00 A-5 11/01/05 - 11/30/05 30 4.97600% 27,527,000.00 114,145.29 0.00 A-IO 11/01/05 - 11/30/05 30 4.50000% 25,806,000.00 96,772.50 0.00 M-1 11/01/05 - 11/30/05 30 5.34200% 6,882,000.00 30,636.37 0.00 M-2 11/01/05 - 11/30/05 30 5.59100% 5,505,000.00 25,648.71 0.00 M-3 11/01/05 - 11/30/05 30 5.88900% 4,128,000.00 20,258.16 0.00 P N/A N/A 0.00000% 100.00 0.00 0.00 X N/A N/A 0.00000% 243,569,241.23 0.00 0.00 R N/A N/A 0.00000% 0.00 0.00 0.00 Totals 1,078,199.86 0.00

~~NOMURA~~Interest ~~ASSET~~Distribution ~~ACCEPTANCE~~Statement ~~CORPORATION~~(continued) Class Current Non-Supported Total Remaining Ending Interest Interest Interest Unpaid Interest Certificate/Notional Shortfall(1) Shortfall Distribution Shortfall(2) Balance A-1 0.00 0.00 351,994.29 0.00 85,774,293.36 A-2 0.00 0.00 243,085.61 0.00 61,064,000.00 A-3 0.00 0.00 85,292.74 0.00 20,332,000.00 A-4 0.00 0.00 110,366.19 0.00 24,544,000.00 A-5 0.00 0.00 114,145.29 0.00 27,527,000.00 A-IO 0.00 0.00 96,772.50 0.00 20,645,000.00 M-1 0.00 0.00 30,636.37 0.00 6,882,000.00 M-2 0.00 0.00 25,648.71 0.00 5,505,000.00 M-3 0.00 0.00 20,258.16 0.00 4,128,000.00 P 0.00 0.00 17,003.99 0.00 100.00 X 0.00 0.00 286,565.68 0.00 237,545,546.17 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,381,769.53 0.00 (1,2) Amount also includes coupon cap or basis risk shortfalls,if applicable

~~(as~~Interest ~~depositor~~Distribution ~~under~~Factors ~~the~~Statement ~~Pooling~~Class ~~and~~Accrual ~~Servicing~~Original ~~Agreement~~Current Beginning Current Payment of Dates Face Certificate Certificate/Notional Accrued Unpaid Interest Amount Rate Balance Interest Shortfall A-1 11/25/05 - 12/26/05 125,285,000.00 4.31375% 732.713321 2.809549 0.000000 A-2 11/01/05 - 11/30/05 61,064,000.00 4.77700% 1000.000000 3.980833 0.000000 A-3 11/01/05 - 11/30/05 20,332,000.00 5.03400% 1000.000000 4.195000 0.000000 A-4 11/01/05 - 11/30/05 24,544,000.00 5.39600% 1000.000000 4.496667 0.000000 A-5 11/01/05 - 11/30/05 27,527,000.00 4.97600% 1000.000000 4.146667 0.000000 A-IO 11/01/05 - 11/30/05 0.00 4.50000% 1000.000000 3.750000 0.000000 M-1 11/01/05 - 11/30/05 6,882,000.00 5.34200% 1000.000000 4.451667 0.000000 M-2 11/01/05 - 11/30/05 5,505,000.00 5.59100% 1000.000000 4.659166 0.000000 M-3 11/01/05 - 11/30/05 4,128,000.00 5.88900% 1000.000000 4.907500 0.000000 P N/A 100.00 0.00000% 1000.000000 0.000000 0.000000 X N/A 2,662.37 0.00000% 91485872.072627 0.000000 0.000000 R N/A 0.00 0.00000% 0.000000 0.000000 0.000000

~~dated~~Interest asDistribution ofFactors ~~June~~Statement (continued) Class Current Non-Supported Total Remaining Unpaid Ending Interest Interest Interest Interest Certificate/ Shortfall(1,) ~~2005~~Shortfall Distribution Shortfall(2) Notional Balance A-1 0.000000 0.000000 2.809549 0.000000 684.633383 A-2 0.000000 0.000000 3.980833 0.000000 1000.000000 A-3 0.000000 0.000000 4.195000 0.000000 1000.000000 A-4 0.000000 0.000000 4.496667 0.000000 1000.000000 A-5 0.000000 0.000000 4.146667 0.000000 1000.000000 A-IO 0.000000 0.000000 3.750000 0.000000 800.007750 M-1 0.000000 0.000000 4.451667 0.000000 1000.000000 M-2 0.000000 0.000000 4.659166 0.000000 1000.000000 M-3 0.000000 0.000000 4.907500 0.000000 1000.000000 P 0.000000 0.000000 170039.900000 0.000000 1000.000000 X 0.000000 0.000000 107635.557792 0.000000 89223340.921810 R 0.000000 0.000000 0.000000 0.000000 0.000000 (1,2) ~~providing~~Amount ~~for~~also ~~the~~includes ~~issuance~~coupon ofcap or basis risk shortfalls,if applicable. Per $1 denomination.

~~Nomura~~CERTIFICATEHOLDER ~~Asset~~ACCOUNT ~~Acceptance~~STATEMENT ~~Corporation~~CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 7,387,136.96 ~~Alternative~~Reserve ~~Loan~~Funds ~~Trust~~and ~~Series~~Credit ~~2005-AP2~~Enhancements 0.00 Proceeds from Repurchased Loans 0.00 Servicer Advances 110,882.24 ~~Mortgage~~Realized ~~Pass-Through~~Loss ~~Certificates~~(Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 17,003.99 Swap/Cap Payments 0.00 Total Deposits 7,515,023.19 Withdrawals Swap Payments 0.00 Reserve Funds and Credit Enhancements 0.00 Reimbursement for Servicer Advances 54,755.52 Total Administration Fees 54,803.08 Payment of Interest and Principal 7,405,464.59 Total Withdrawals (Pool Distribution Amount) 7,515,023.19 Ending Balance 0.00

~~NOMURA~~PREPAYMENT/CURTAILMENT ~~ASSET~~INTEREST ~~ACCEPTANCE~~SHORTFALL ~~CORPORATION~~Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

~~(Exact~~ADMINISTRATION ~~name~~FEES ofGross ~~registrant~~Servicing asFee* ~~specified~~50,743.59 inCredit ~~its~~Risk ~~charter)~~Management Fee Rate 3,044.62 MS Fee, Wells Fargo 1,014.87 Supported Prepayment/Curtailment Interest Shortfall 0.00 Total Administration Fees 54,803.08 *Servicer Payees include: GMAC MTG CORP; WELLS FARGO BANK, N.A.

Delaware	333-126812	13-3672336
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
Two World Financial Center, Building B, 21st Floor, New York, New York		10281
(Address of Principal Executive Offices)		(Zip Code)

~~Registrant’s~~COLLATERAL ~~telephone~~STATEMENT ~~number~~Collateral Description Fixed Weighted Average Gross Coupon 7.028705% Weighted Average Net Coupon 6.778705% Weighted Average Pass-Through Rate 6.727332% Weighted Average Remaining Term 337 Beginning Scheduled Collateral Loan Count 1,097 ~~including~~Number ~~area~~Of ~~code~~Loans Paid In Full 21 Ending Scheduled Collateral Loan Count 1,076 isBeginning ~~(212)~~Scheduled ~~667~~Collateral Balance 243,569,241.23 Ending Scheduled Collateral Balance 237,545,546.17 Ending Actual Collateral Balance at 30-~~9300~~Nov-2005 237,736,498.87 Monthly P&I Constant 1,631,755.16 Special Servicing Fee 0.00 Prepayment Penalty Waived Amount 0.00 Prepayment Penalty Waived Count 0 Prepayment Penalty Paid Amount 17,003.99 Prepayment Penalty Paid Count 6 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 205,108.17 Unscheduled Principal 5,818,586.89

oAdditional ~~Written~~Reporting ~~communications~~- ~~pursuant~~Deal toLevel ~~Rule~~Miscellaneous ~~425~~Reporting ~~under~~Delinquency ~~the~~Event ~~Securities~~Occurred ~~Act~~NO ~~(17~~Cumulative ~~CFR~~Loss ~~230~~Event 0.~~425)~~00 Overcollateralization Amount 1,789,252.81 OC Increase Amount 0.00 Required OC Amount 1,789,252.81 Stepdown Date Occurred NO Trigger Event Occurred NO

oLOAN ~~Soliciting~~STATUS ~~material~~STRATIFICATION/CREDIT ~~pursuant~~ENHANCEMENT toSTATEMENT ~~Rule~~DELINQUENT ~~14a~~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 2 0 0 2 203,446.09 0.00 0.00 203,446.09 30 Days 10 1 0 0 11 2,505,627.01 65,997.05 0.00 0.00 2,571,624.06 60 Days 7 1 1 0 9 1,821,837.07 194,922.41 60,040.22 0.00 2,076,799.70 90 Days 1 0 4 0 5 59,772.32 0.00 573,594.80 0.00 633,367.12~~(b)~~ ~~under~~120 ~~the~~Days ~~Exchange~~0 ~~Act~~0 ~~(17~~0 ~~CFR~~0 ~~240~~0 0.~~14a~~00 0.00 0.00 0.00 0.00 150 Days 0 1 2 0 3 0.00 125,000.00 957,272.65 0.00 1,082,272.65 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 18 5 7 0 30 4,387,236.40 589,365.55 1,590,907.67 0.00 6,567,509.62 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-~~12(b))~~29 Days 0.185874% 0.000000% 0.000000% 0.185874% 0.085576% 0.000000% 0.000000% 0.085576% 30 Days 0.929368% 0.092937% 0.000000% 0.000000% 1.022305% 1.053951% 0.027761% 0.000000% 0.000000% 1.081712% 60 Days 0.650558% 0.092937% 0.092937% 0.000000% 0.836431% 0.766326% 0.081991% 0.025255% 0.000000% 0.873572% 90 Days 0.092937% 0.000000% 0.371747% 0.000000% 0.464684% 0.025142% 0.000000% 0.241273% 0.000000% 0.266416% 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% 0.092937% 0.185874% 0.000000% 0.278810% 0.000000% 0.052579% 0.402661% 0.000000% 0.455240% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.672862% 0.464684% 0.650558% 0.000000% 2.788104% 1.845420% 0.247907% 0.669189% 0.000000% 2.762516%

oOTHER ~~Pre-commencement~~INFORMATION ~~communications~~Current ~~pursuant~~Period toClass ~~Rule~~A ~~14d-2(b)~~Insufficient ~~under~~Funds ~~the~~0.00 ~~Exchange~~Principal ~~Act~~Balance ~~(17~~of ~~CFR~~Contaminated ~~240~~Properties 0.~~14d-2(b))~~00 Periodic Advance 110,882.24

oSUBORDINATION ~~Pre~~LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class R 16,517,762.37 6.00057495% 18,304,352.81 7.70561819% 0.000000% 0.000000% Class M-~~commencement~~1 ~~communications~~9,635,762.37 ~~pursuant~~3.50048106% to11,422,352.81 ~~Rule~~4.80848957% ~~13e~~2.897129% 0.000000% Class M-2 4~~(c)~~,130,762.37 ~~under~~1.50062391% 5,917,352.81 2.49103926% 2.317450% 0.000000% Class M-3 2,762.37 0.00100351% 1,789,352.81 0.75326725% 1.737772% 0.000000% Class X 100.00 0.00003633% 100.00 0.00004210% 0.753225% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000042% 0.000000% Please Refer to the ~~Exchange~~Prospectus ~~Act~~Supplement ~~(17~~for ~~CFR~~a ~~240~~Full Description of Loss Exposure.~~13e-4(c))~~

REO Detail - All Mortgage Loans in REO during Current Period

~~Item~~Summary 112 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Jan-05 0.01000% ~~Entry~~Original ~~into~~Principal aBalance ~~Material~~0.00 ~~Definitive~~Feb-05 ~~Agreement~~0.000% Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% Current REO Total May-05 0.000% Loans in REO 0 Jun-05 0.000% Original Principal Balance 0.00 Jul-05 0.000% Current Principal Balance 0.00 Aug-05 0.000% Sep-05 0.000% Oct-05 0.000% Nov-05 0.000% Dec-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.

~~Amendment~~REO toLoan ~~Pooling~~Detail &- ~~Servicing~~All ~~Agreement~~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.

OnREO ~~June 29, 2005, a series of certificates, entitled Nomura Asset Acceptance Corporation, Alternative~~ Loan ~~Trust~~Detail ~~Series 2005~~-~~AP2,~~ ~~Mortgage~~All Pass-Through Certificates (the “Certificates”), were issued pursuant to a pooling and servicing agreement, dated as of February 1, 2005 (the “Pooling Agreement”), among Nomura Asset Acceptance Corporation as depositor (the “Depositor”), Nomura Credit & Capital, Inc., as seller (the “Seller”), GMAC Mortgage ~~Corporation~~Loans asin aREO ~~servicer~~during ~~(“GMAC”),~~Current ~~Wells~~Period ~~Fargo Bank, National Association as master servicer and securities administrator~~ (~~the “Securities Administrator”~~continued) ~~and~~Current ~~HSBC~~Paid ~~Bank~~Current ~~USA,~~Approximate ~~National~~Loan ~~Association~~Principal asTo ~~trustee~~Months ~~(the~~Loan ~~“Trustee”),~~Delinquent ~~which~~Group ~~Agreement~~Number ~~was~~Balance ~~the~~Date ~~subject~~Delinquent ~~of,~~Rate ~~and~~Interest ~~exhibit~~No toREO aloans ~~Form~~this ~~8-K filed with the United States Securities & Exchange Commission on July 19, 2005~~period.

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

~~The~~Summary ~~seller,~~12 asMonth ~~owner~~Foreclosure ofHistory* ~~the~~New ~~Mortgage~~Foreclosure Loans ~~sold~~Month toForeclosure ~~the~~Percentage ~~trust fund, retained certain rights relating to the servicing of some of the Mortgage~~ Loans ~~(the~~in ~~“Transferred~~Foreclosure ~~Mortgage~~5 ~~Loans”),~~Jan-05 ~~including~~0.000% ~~the~~Original ~~right~~Principal toBalance ~~terminate and replace GMAC at any time~~635,800.00 ~~without~~Feb-05 ~~cause~~0. As000% ofCurrent ~~September~~Principal 1,Balance ~~2005~~633,635.02 ~~the~~Mar-05 ~~Seller~~0.000% ~~sold~~Apr-05 ~~the~~0.000% ~~servicing~~Current ~~rights~~Foreclosure ~~with~~Total ~~respect~~May-05 to0.000% ~~the Transferred Mortgage~~ Loans toin ~~Wells~~Foreclosure ~~Fargo~~7 ~~Bank,~~Jun-05 N0.A.000% ~~(in~~Original ~~its~~Principal ~~capacity~~Balance ~~as the servicer of the Transferred Mortgage Loans~~1,593,800.00 ~~“Wells~~Jul-05 ~~Fargo”)~~0. As000% aCurrent ~~result,~~Principal ~~the~~Balance ~~Depositor~~1, ~~the Seller~~590,907.67 ~~GMAC,~~Aug-05 ~~Wells~~0.000% ~~Fargo~~Sep-05 as0.105% aOct-05 ~~servicer,~~0.109% ~~the~~Nov-05 ~~Securities~~0.393% ~~Administrator~~Dec-05 ~~and~~0.669% ~~the~~*The ~~Trustee~~text ~~entered~~reported ~~into~~in athe ~~Servicer~~above ~~Appointment~~table ~~Assumption~~is ~~and~~presented ~~Amendment~~graphically ~~Agreement~~on to the ~~Pooling~~monthly ~~Agreement~~bond ~~(the~~remittance ~~“Amendment”),~~report. ~~dated~~The asmonthly ofbond ~~September~~remittance 1,report ~~2005,~~can ~~attached~~be ~~hereto~~viewed asonline ~~Exhibit~~at 4www.1ctslink. ~~The Amendment reflects the appointment of Wells Fargo as a servicer with respect to the Transferred Mortgage Loans~~com.

~~Item~~Foreclosure 9Loan Detail - All Mortgage Loans in Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance Summary 0000122896 Nov-2005 01-Mar-2005 NY 77.78 350,000.00 Summary 0000126782 Dec-2005 01 ~~Financial~~-Mar-2005 ~~Statements~~MI ~~and~~80.00 ~~Exhibits~~109,600.00 Summary 0000136081 Nov-2005 01-Mar-2005 AZ 80.00 608,000.00 Summary 0000136502 Dec-2005 01-Apr-2005 CA 80.00 348,000.00 Summary 0000141132 Dec-2005 01-Mar-2005 PA 90.00 59,400.00 Summary 0000141133 Dec-2005 01-Mar-2005 PA 90.00 58,500.00 Summary 0000141135 Dec-2005 01-Mar-2005 PA 90.00 60,300.00

~~(a)~~Foreclosure ~~Not~~Loan ~~applicable~~Detail - All Mortgage Loans in Foreclosure during Current Period (bcontinued) ~~Not~~Current ~~applicable~~Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest Summary 0000122896 349,272.65 01-May-2005 5 7.875% 13,282.89 Summary 0000126782 109,111.14 01-Jul-2005 3 6.625% 2,892.95 Summary 0000136081 608,000.00 01-May-2005 5 7.625% 22,419.96 Summary 0000136502 347,032.57 01-Jul-2005 3 7.875% 11,009.78 Summary 0000141132 59,162.15 01-Jul-2005 3 7.750% 1,846.16 Summary 0000141133 58,288.94 01-Jul-2005 3 7.750% 1,818.85 Summary 0000141135 60,040.22 01-Aug-2005 2 7.750% 1,499.34

Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period

~~(c)~~Summary ~~Exhibits~~12 Month Bankruptcy History* New Bankruptcy Loans Month Bankruptcy Percentage Loans in Bankruptcy 1 Jan-05 0.000% Original Principal Balance 196,000.00 Feb-05 0.000% Current Principal Balance 194,922.41 Mar-05 0.000% Apr-05 0.000% Current Bankruptcy Total May-05 0.000% Loans in Bankruptcy 5 Jun-05 0.000% Original Principal Balance 593,005.00 Jul-05 0.000% Current Principal Balance 589,365.55 Aug-05 0.000% Sep-05 0.000% Oct-05 0.000% Nov-05 0.162% Dec-05 0.248% *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.

Exhibit No.	Description
4.1	Servicer Appointment, Assumption and Amendment Agreement, dated as of September 1, 2005, to the Pooling and Servicing Agreement, dated as of June 1, 2005, by and among the Seller, the Depositor, GMAC, Wells Fargo, the Securities Administrator and the Trustee.

~~SIGNATURES~~Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period (continued) Group Loan Current Paid To Months Current Approximate Number Principal Date Delinquent Loan Rate Delinquent Balance Interest Summary 0000126413 92,323.22 01-Nov-2005 0 6.875% 1,024.96 Summary 0000126518 65,997.05 01-Sep-2005 1 8.125% 1,298.41 Summary 0000126902 111,122.87 01-Nov-2005 0 7.375% 1,320.12 Summary 0000127100 125,000.00 01-May-2005 5 7.125% 4,296.90 Summary 0000146582 194,922.41 01-Aug-2005 2 6.500% 4,055.15

~~Pursuant~~Realized toLoss ~~the~~Detail ~~requirements~~Report of- ~~the~~Loans ~~Securities~~with ~~Exchange~~Losses ~~Act~~during ofCurrent ~~1934,~~Period ~~the~~Summary ~~registrant~~# ~~has~~Loans ~~duly~~Prior ~~caused~~Realized ~~this~~Current ~~report~~with toPrincipal beLoss/(Gain) ~~signed~~Loss onGroup ~~its~~Losses ~~behalf~~Balance byAmount ~~the~~Percentage ~~undersigned~~Total ~~thereunto~~0 ~~duly~~0.00 ~~authorized~~0.00 0.000%

~~Dated:~~Realized ~~September~~Loss 1,Loan ~~2005~~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.

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

ByRealized Loss Report - Collateral Summary MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jan-2005 N/sA N/A ~~John~~Jan-2005 PN/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 N/A N/A Jun-2005 N/A N/A Jul-2005 0.000% ~~Graham~~ N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A Sep-2005 0.000% N/A Sep-2005 0.000% N/A Oct-2005 0.000% N/A Oct-2005 0.000% N/A Nov-2005 0.000% N/A Nov-2005 0.000% N/A Dec-2005 0.000% N/A Dec-2005 0.000% 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 www. monthly bond remittance report can be viewed online at ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. 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 N/A N/A Jun-2005 N/A N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A Sep-2005 0.000% N/A Sep-2005 0.000% N/A Oct-2005 0.000% N/A Oct-2005 0.000% N/A Nov-2005 0.000% N/A Nov-2005 0.000% N/A Dec-2005 0.000% N/A Dec-2005 0.000% 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 www. monthly bond remittance report can be viewed online at ctslink.com. www.ctslink.com. Calculation Methodology: Monthly Default Rate (MDR): sum(Beg Principal Balance of Liquidated Loans)/ sum(Beg Principal Balance). Conditional Default Rate (CDR): 1-((1-MDR)^12) SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR/(WAS*0.02) else if WAS is greater than 30 and less than or equal to 60 then CDR/0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR/(0.6 - ((WAS-60)*0.0095)) else if WAS is greater than 120 then CDR/0.03 Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

~~Name:~~Prepayment ~~John~~Detail P- 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 Total 21 5,845,955.00 ~~Graham~~5,812,400.83 0 0.00 0.00

~~Title: President~~Prepayment Detail - Prepayments during Current Period (continued) Summary Substitution Loans Liquidated Loans Curtailments Original Current Original Current Principal Principal Principal Principal Curtailment Group Count Balance Balance Count Balance Balance Amount Total 0 0.00 0.00 0 0.00 0.00 9,983.44

~~Index~~Prepayment toLoan ~~Exhibits~~Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Summary 0000097351 TX 80.00 01-Feb-2005 129,400.00 128,124.27 Summary 0000102094 MA 80.00 01-Jan-2005 328,000.00 328,000.00 Summary 0000102102 MA 80.00 01-Jan-2005 144,000.00 143,040.85 Summary 0000102532 MA 80.00 01-Feb-2005 203,800.00 202,427.81 Summary 0000102592 NY 80.00 01-Feb-2005 648,000.00 642,930.37 Summary 0000116239 MD 80.00 01-Feb-2005 449,800.00 445,623.44 Summary 0000121220 FL 95.00 01-Jan-2005 152,855.00 151,264.48 Summary 0000121368 PA 80.00 01-Feb-2005 146,400.00 144,895.44 Summary 0000121382 MD 90.00 01-Feb-2005 36,000.00 35,762.65 Summary 0000126251 IL 80.00 01-Apr-2005 704,000.00 699,410.78 Summary 0000126505 CO 80.00 01-Jan-2005 136,000.00 134,836.14 Summary 0000126541 NV 80.00 01-Feb-2005 180,000.00 179,929.63 Summary 0000126607 WI 95.00 01-Feb-2005 289,750.00 287,553.33 Summary 0000126672 GA 85.00 01-Feb-2005 90,100.00 90,099.64 Summary 0000126999 DC 85.00 01-Mar-2005 196,350.00 194,775.99 Summary 0000127078 OR 80.00 01-Feb-2005 168,000.00 168,000.00 Summary 0000127345 NY 70.00 01-Mar-2005 451,500.00 447,967.85 Summary 0000130979 CT 80.00 01-Apr-2005 128,000.00 127,282.01 Summary 0000131536 NV 80.00 01-Apr-2005 180,000.00 178,573.24 Summary 0000141694 NY 80.00 01-May-2005 788,000.00 784,183.18 Summary 0000146599 NJ 80.00 01-Apr-2005 296,000.00 293,922.35

Exhibit No.	Description	Sequentially Numbered Page
4.1	Servicer Appointment, Assumption and Amendment Agreement, dated as of September 1, 2005, to the Pooling and Servicing Agreement, dated as of June 1, 2005, by and among the Seller, the Depositor, GMAC, Wells Fargo, the Securities Administrator and the Trustee.	7

Prepayment - Voluntary Prepayments

Filing Compare · Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-AP2