8-K 1 wmc0502_8k0601.txt 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): January 25, 2006 GE-WMC Mortgage Securities, L.L.C. (Depositor) Issuer in respect of GE-WMC Asset-Backed Pass-Through Certificates Series 2005-2 GE-WMC Mortgage Securities, L.L.C. (Exact name of registrant as specified in charter) Delaware 333-127360-02 20-3251258 (State or other (Commission File No.) (I.R.S. Employer jurisdiction of Identification No.) organization) 3100 Thornton Avenue, Burbank, CA 91504 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: 818-736-7023 Not Applicable (Former name, former address and former fiscal year, 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. []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)) Section 8 - Other Events Item 8.01 Other Events Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits 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: January 25, 2006 GE-WMC Mort Sec LLC By: /s/ Gregory Macfarlane ------------------------------ Name: Gregory Macfarlane Treasurer EXHIBIT INDEX Exhibit 99 Monthly Remittance Statement dated January 25, 2006 Payment Date: 01/25/06 ------------------------------------------------------------ GE-WMC Mortgage Securities, L.L.C. GE-WMC Asset-Backed Pass-Through Certificates, Series 2005-2 ------------------------------------------------------------

~~UNITED~~Class ~~STATES~~Information Current Payment Information ---------------------------------------------------------------------------------------------------------------------------------- Beginning Pass Thru Principal Interest Total Principal Interest Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls ---------------------------------------------------------------------------------------------------------------------------------- Senior A1 319,314,000.00 4.595000% 2,761,597.66 1,508,004.71 4,269,602.37 0.00 0.00 A2A 374,812,000.00 4.470000% 10,719,843.97 1,721,948.80 12,441,792.77 0.00 0.00 A2B 176,477,000.00 4.540000% 0.00 823,461.29 823,461.29 0.00 0.00 A2C 150,034,000.00 4.620000% 0.00 712,411.44 712,411.44 0.00 0.00 A2D 46,273,000.00 4.690000% 0.00 223,048.71 223,048.71 0.00 0.00 C 45,984,900.00 0.000000% 0.00 1,080,441.80 1,080,441.80 0.00 0.00 P 100.00 0.000000% 0.00 26,599.55 26,599.55 0.00 0.00 Residual R 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 RX 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- Subordinate M1 55,185,000.00 4.810000% 0.00 272,813.18 272,813.18 0.00 0.00 M2 51,647,000.00 4.820000% 0.00 255,853.50 255,853.50 0.00 0.00 M3 31,838,000.00 4.850000% 0.00 158,703.59 158,703.59 0.00 0.00 M4 27,593,000.00 4.990000% 0.00 141,513.77 141,513.77 0.00 0.00 M5 24,762,000.00 5.010000% 0.00 127,503.67 127,503.67 0.00 0.00 M6 23,348,000.00 5.090000% 0.00 122,142.47 122,142.47 0.00 0.00 B1 20,518,000.00 5.647152% 0.00 126,949.43 126,949.43 0.00 0.00 B2 18,395,000.00 5.647152% 0.00 123,266.94 123,266.94 0.00 0.00 B3 17,688,000.00 5.647152% 0.00 113,984.42 113,984.42 0.00 0.00 B4 16,273,000.00 5.647152% 0.00 104,865.92 104,865.92 0.00 0.00 B5 14,858,000.00 5.647152% 0.00 95,747.43 95,747.43 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - 1,415,000,000.00 - 13,481,441.63 7,739,260.61 21,220,702.24 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior A1 316,552,402.34 0.00 A2A 364,092,156.03 0.00 A2B 176,477,000.00 0.00 A2C 150,034,000.00 0.00 A2D 46,273,000.00 0.00 C 45,987,500.00 0.00 P 100.00 0.00 Residual R 0.00 0.00 RX 0.00 0.00 -------------------------------------------------------------------------------- Subordinate M1 55,185,000.00 0.00 M2 51,647,000.00 0.00 M3 31,838,000.00 0.00 M4 27,593,000.00 0.00 M5 24,762,000.00 0.00 M6 23,348,000.00 0.00 B1 20,518,000.00 0.00 B2 18,395,000.00 0.00 B3 17,688,000.00 0.00 B4 16,273,000.00 0.00 B5 14,858,000.00 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - 1,401,521,158.37 - --------------------------------------------------------------------------------

Payment Date: 01/25/06 ------------------------------------------------------------ GE-WMC Mortgage Securities, L.L.C. GE-WMC Asset-Backed Pass-Through Certificates, Series 2005-2 ------------------------------------------------------------

~~SECURITIES~~Class ~~AND~~Information ~~EXCHANGE~~Current ~~COMMISSION~~Payment Information Factors per $1,000 ------------------------------------------------------------------------------------------------------------------------ Beginning Pass Thru CUSIP Principal Interest Ending Cert./ Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal. ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Senior A1 319,314,000.00 4.595000% 367910AR7 8.648533 4.722639 991.351467 A2A 374,812,000.00 4.470000% 367910AS5 28.600589 4.594167 971.399411 A2B 176,477,000.00 4.540000% 367910AT3 0.000000 4.666111 1,000.000000 A2C 150,034,000.00 4.620000% 367910AU0 0.000000 4.748333 1,000.000000 A2D 46,273,000.00 4.690000% 367910AV8 0.000000 4.820278 1,000.000000 C 45,984,900.00 0.000000% C 0.000000 23.495578 1,000.056540 P 100.00 0.000000% P 0.000000 265,995.500000 1,000.000000 Residual R 0.00 0.000000% R 0.000000 0.000000 0.000000 RX 0.00 0.000000% RX 0.000000 0.000000 0.000000 ------------------------------------------------------------------------------------------------------------------------ Subordinate M1 55,185,000.00 4.810000% 367910AW6 0.000000 4.943611 1,000.000000 M2 51,647,000.00 4.820000% 367910BD7 0.000000 4.953889 1,000.000000 M3 31,838,000.00 4.850000% 367910AX4 0.000000 4.984722 1,000.000000 M4 27,593,000.00 4.990000% 367910AY2 0.000000 5.128611 1,000.000000 M5 24,762,000.00 5.010000% 367910AZ9 0.000000 5.149167 1,000.000000 M6 23,348,000.00 5.090000% 367910BA3 0.000000 5.231389 1,000.000000 B1 20,518,000.00 5.647152% 367910BB1 0.000000 6.187222 1,000.000000 B2 18,395,000.00 5.647152% 367910BC9 0.000000 6.701111 1,000.000000 B3 17,688,000.00 5.647152% 367910BE5 0.000000 6.444167 1,000.000000 B4 16,273,000.00 5.647152% 367910BF2 0.000000 6.444167 1,000.000000 B5 14,858,000.00 5.647152% 367910BG0 0.000000 6.444167 1,000.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - 1,415,000,000.00 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ GE-WMC Mortgage Securities, L.L.C. GE-WMC Asset-Backed Pass-Through Certificates, Series 2005-2 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 420,731,894.41 980,789,263.96 1,401,521,158.37 Loan count 2877 4096 6973 Avg loan rate 7.472098% 7.467723% 7.47 Prepay amount 2,534,430.41 10,284,898.58 12,819,328.99 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 176,411.72 413,078.41 589,490.13 Sub servicer fees 0.00 0.00 0.00 Trustee fees 1,094.02 2,561.39 3,655.42 Agg advances N/A N/A N/A Adv this period 2,002,368.97 4,511,916.05 6,514,285.02 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Total ----- Realized losses 0.00 0.00 0.00 Cumulative losses 0.00 0.00 0.00 Coverage Amounts Total ---------------- ----- Bankruptcy 0.00 0.00 0.00 Fraud 8,469,859.19 19,830,140.81 28,300,000.00 Special Hazard 0.00 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 89.003259% 100.000000% 2,445,118,000.00 ----------------------------------------------------------------------------- Junior 10.996741% 0.000000% 302,105,000.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 3 1,200,552.40 60 to 89 days 0 0.00 90 or more 0 0.00 Foreclosure 0 0.00 Totals: 3 1,200,552.40 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- REO INFORMATION -------------------------------------------------------------------------------- REO Date Loan Number Ending Stated Balance Book Value -------- ----------- --------------------- ---------- N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A Totals: 0 N/A Current Total Outstanding Balance: 0.00 Current Total Outstanding Number of Loans: 0 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 21,220,702.24 21,220,702.24 Principal remittance amount 13,481,441.63 13,481,441.63 Interest remittance amount 7,739,260.61 7,739,260.61

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 12, 2005

GE-WMC MORTGAGE SECURITIES, L.L.C.

(as depositor under the Pooling and Servicing Agreement,

dated as of December 1, 2005, providing for the issuance of

GE-WMC ASSET-BACKED PASS-THROUGH CERTIFICATES, SERIES 2005-2)

GE-WMC Mortgage Securities, L.L.C.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

Delaware	333-127360-02	20-3251258
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
3100 Thornton Avenue Burbank, California		91504
(Address of Principal Executive Offices)		(Zip Code)

Registrant's telephone number, including area code: (818) 736-7023

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):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 - Completion of Acquisition or Disposition of Assets

Item 2.01 Completion of Acquisition or Disposition of Assets

Description of the Certificates and the Mortgage Pool

On December 19, 2005, a series of certificates, entitled GE-WMC Asset-Backed Pass-Through Certificates, Series 2005-2 (the “Certificates”), was issued pursuant to a pooling and servicing agreement, dated as of December 1, 2005 (the “Agreement”), attached hereto as Exhibit 4.1, among GE-WMC Mortgage Securities, L.L.C. as depositor (the “Depositor”), Litton Loan Servicing LP as servicer (the “Servicer”) and The Bank of New York as trustee and supplemental interest trustee (the “Trustee”). The Certificates consist of twenty classes of certificates (collectively, the “Certificates”), designated as the Class A-1 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 B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates, Class B-4 Certificates, Class B-5 Certificates, Class C Certificates, Class P Certificates, Class R Certificates and Class R-X Certificates, collectively, the “Certificates.” The Certificates evidence in 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 non-prime, one- to four- family, adjustable-rate and fixed-rate, first lien and second lien residential 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 $1,414,999,379 as of December 1, 2005 (the “Cut-off Date”). The Mortgage Loans were purchased pursuant to the Mortgage Loan Purchase Agreement, dated December 19, 2005 (the “Mortgage Loan Purchase Agreement”), between GE Mortgage Holding, L.L.C. (“Mortgage Holding”) and the Depositor. The Class A-1 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 B-1 Certificates and Class B-2 Certificates (collectively, the “Offered Certificates”) were sold by the Depositor to Credit Suisse First Boston LLC and Morgan Stanley & Co. Incorporated as representatives of the several underwriters (collectively, the “Underwriters”), pursuant to an

Underwriting Agreement, dated December 13, 2005 (the “Underwriting Agreement”), among the Depositor, Mortgage Holding and the Underwriters.

The Certificates offered pursuant to the Prospectus Supplement (the “Offered Certificates”) have the following initial Certificate Principal Balances and Pass-Through Rates:

Class	Initial Certificate Principal Balance(1)		Pass-Through Rate
Offered Certificates
A-1	$	319,314,000	Variable(2)
A-2a	$	374,812,000	Variable(2)
A-2b	$	176,477,000	Variable(2)
A-2c	$	150,034,000	Variable(2)
A-2d	$	46,273,000	Variable(2)
M-1	$	55,185,000	Variable(2)
M-2	$	51,647,000	Variable(2)
M-3	$	31,838,000	Variable(2)
M-4	$	27,593,000	Variable(2)
M-5	$	24,762,000	Variable(2)
M-6	$	23,348,000	Variable(2)
B-1	$	20,518,000	Variable(2)
B-2	$	18,395,000	Variable(2)

(1)	Approximate. May vary by an amount plus or minus 5% of the principal balance stated.
(2)	The pass-through rate on each class of Certificates will be based on one-month LIBOR plus the applicable margin set forth in the Prospectus Supplement, subject to the rate caps described the Prospectus Supplement.

The Offered Certificates and the Mortgage Loans are more particularly described in the Prospectus Supplement, dated December 14, 2005 (the “Prospectus Supplement”), and the Prospectus, dated September 26, 2005, as previously filed with the Securities and Exchange Commission pursuant to Rule 424(b). The Class B-3 Certificates, Class B-4 Certificates, Class B-5 Certificates, Class C Certificates, Class P Certificates, Class R Certificates and Class R-X Certificates have not been and will not be publicly offered by the Depositor. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Prospectus Supplement.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(a) Not applicable (b) Not applicable (c) Exhibits

Exhibit No. Description

4.1 Pooling and Servicing Agreement, dated as of

December 1, 2005, by and among GE-WMC Mortgage Securities, L.L.C. as depositor, Litton Loan Servicing LP as servicer and The Bank of New York as trustee and supplemental interest trustee, relating to the Series 2005-2 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: January 3, 2006

GE-WMC MORTGAGE SECURITIES, L.L.C. By: /s/ James Zollo Name: James Zollo Title: Vice President

Index to Exhibits

Exhibit No.	Description
4.1	Pooling and Servicing Agreement, dated as of December 1, 2005, by and among GE-WMC Mortgage Securities, L.L.C. as depositor, Litton Loan Servicing LP as servicer and The Bank of New York as trustee and supplemental interest trustee, relating to the Series 2005-2 Certificates.

EXHIBIT 4.1

Filing Compare · GE-WMC Asset-Backed Pass-Through Certificates, Series 2005-2