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) May 25, 2005

Bear Stearns Asset Backed Securities I LLC
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-113636
(Commission
File Number)

20-0842986
(IRS Employer
Identification No.)

383 Madison Avenue, New York, NY
(Address of principal executive offices)

10179
(Zip Code)

Registrant's telephone number, including area code 212-272-2000

(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))

Section 8 - Other Events

Item 8.01. Other Events.

This current report on Form 8-K relates to the monthly distribution reported to the holders of Bear Stearns Asset Backed Securities I Trust 2005-HE1, Asset-Backed Certificates, Series 2005-HE1, which was made on May 25, 2005.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to section 5.06 of the Pooling and Servicing Agreement for the distribution on May 25, 2005.

(Exhibit No. Description)

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 hereunto duly authorized.

LASALLE BANK NATIONAL ASSOCIATION, IN ITS CAPACITY AS TRUSTEE UNDER THE POOLING AND SERVICING AGREEMENT ON BEHALF OF BEAR STEARNS ASSET BACKED SECURITIES I LLC, REGISTRANT

By: /s/ Russell Goldenberg
Russell Goldenberg
Group Senior Vice President

Date: May 31, 2005

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Reporting Package Table of Contents

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Administrator:

Leigh Gordon 312.904.4839
leigh.gordon@abnamro.com

Analyst:

Julie Kang 714.259.6208
julie.kang@abnamro.com

Statement Date:

135 S. LaSalle Street, Suite 1625
Chicago, IL 60603
USA

Statements to Certificateholders
Cash Reconciliation Summary
Bond Interest Reconciliation
Bond Principal Reconciliation

Shortfall Summary Report

Swap Summary Report
Rating Information

Asset-Backed Facts ~ 15 Month Loan Status Summary Part I
Asset-Backed Facts ~ 15 Month Loan Status Summary Part II
Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary

Page 2-3
Page 4-12
Page 13
Page 14

Page 15

Page 16
Page 17

Page 18-26
Page 27-35

Page 36-44

Realized Loss Detail

Page 45

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

BS005HE1

BS005HE1_200505_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

28-Jan-05
25-Feb-05

25-Jan-35

Parties to The Transaction

Issuer: Bear Stearns & Co. Inc.

Depositor: Bear Stearns Asset Backed Securities, Inc.

Underwriter: Bear Stearns & Co. Inc.

Master Servicer: EMC Mortgage Corporation

Rating Agency: Moody's Investors Service, Inc./Standard & Poor's Ratings Services/Standard & Poor's Ratings Services

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.emcmortgagecorp.com

www.etrustee.net

Page 1 of 45

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.386929%

3.020000%
3.090000%

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2005-HE1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

349

Bond Payments

Statement Date:

ABN AMRO Acct: 722299.2

830.872452707

96.534616346

0.000000000

734.337836361

2.201812017

3.250000000%

0.00

0.000000000

3.18000000%

0.000000000

073879PL6

I-A-1

191,996,000.00

18,534,260.20

0.00

140,989,927.23

422,739.10

159,524,187.43

1000.000000000

0.000000000

1000.000000000

2.708333314

3.320000000%

0.00

0.000000000

3.25000000%

0.000000000

073879PM4

I-A-2

88,379,000.00

0.00

88,379,000.00

239,359.79

88,379,000.00

1000.000000000

0.000000000

1000.000000000

2.808333409

3.440000000%

0.00

0.000000000

3.37000000%

0.000000000

073879PN2

I-A-3

22,015,000.00

0.00

22,015,000.00

61,825.46

22,015,000.00

887.061511017

40.674782779

0.000000000

846.386728238

2.432026975

3.360000000%

0.00

0.000000000

3.29000000%

0.000000000

073879PP7

II-A-1

721,706,000.00

29,355,234.78

0.00

610,842,380.09

1,755,208.46

640,197,614.87

887.061510980

40.674782736

0.000000000

846.386728243

2.461595668

3.400000000%

0.00

0.000000000

3.33000000%

0.000000000

073879PQ5

II-A-2

180,426,000.00

7,338,788.35

0.00

152,710,171.83

444,135.86

160,048,960.18

1000.000000000

0.000000000

1000.000000000

2.958333367

3.620000000%

0.00

0.000000000

3.55000000%

0.000000000

073879PR3

M-1

100,250,000.00

0.00

100,250,000.00

296,572.92

100,250,000.00

1000.000000000

0.000000000

1000.000000000

3.208333313

3.920000000%

0.00

0.000000000

3.85000000%

0.000000000

073879PS1

M-2

81,263,000.00

0.00

81,263,000.00

260,718.79

81,263,000.00

1000.000000000

0.000000000

1000.000000000

3.291666728

4.020000000%

0.00

0.000000000

3.95000000%

0.000000000

073879PT9

M-3

27,341,000.00

0.00

27,341,000.00

89,997.46

27,341,000.00

1000.000000000

0.000000000

1000.000000000

3.725000263

4.540000000%

0.00

0.000000000

4.47000000%

0.000000000

073879PU6

M-4

18,987,000.00

0.00

18,987,000.00

70,726.58

18,987,000.00

1000.000000000

0.000000000

1000.000000000

3.808333242

4.640000000%

0.00

0.000000000

4.57000000%

0.000000000

073879PV4

M-5

18,227,000.00

0.00

18,227,000.00

69,414.49

18,227,000.00

1000.000000000

0.000000000

1000.000000000

4.558333524

5.540000000%

0.00

0.000000000

5.47000000%

0.000000000

073879PW2

M-6

17,468,000.00

0.00

17,468,000.00

79,624.97

17,468,000.00

1000.000000000

0.000000000

1000.000000000

5.850000000

7.090000000%

0.00

13,494.44

0.612687401

6.28477515%

0.000000000

073879PX0

M-7

22,025,000.00

0.00

22,025,000.00

128,846.25

22,025,000.00

1000.000000000

0.000000000

1000.000000000

115.467143497

0.00

3,332,336.31

115.467143497

N/A

0.000000000

073879PZ5

28,859,606.37

0.00

28,859,606.37

3,332,336.31

28,859,606.37

1000.000000000

0.000000000

1000.000000000

10189828.500000000

0.00

1,018,982.85

10189828.500000000

N/A

0.000000000

073879PY8

100.00

0.00

100.00

1,018,982.85

100.00

0.000000000

0.00

0.000000000

N/A

0.000000000

073879QA9

R-1

0.00

Page 2 of 45

Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.386929%

3.020000%
3.090000%

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Bear Stearns Asset Backed Securities I Trust

Asset-Backed Certificates

Series 2005-HE1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

349

Bond Payments

Statement Date:

ABN AMRO Acct: 722299.2

0.000000000

0.00

0.000000000

N/A

0.000000000

073879QB7

R-2

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

073879QD3

R-3

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

073879QC5

0.00

Total P&I Payment

0.00

4,364,813.60

1,518,942,706.37

1,384,585,468.85

63,498,772.62

Total

1,329,357,185.52

55,228,283.33

0.00

8,270,489.29

Page 3 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Statement Date:

Cash Reconciliation Summary

Interest Summary

Total Trustee Fees

Available Interest

8,963,882.17

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

936,105.00

321,616.26

53,970,562.07

0.00
0.00
0.00

64,193,550.08

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

1,384,585,368.85

936,105.00

54,292,178.33

0.00
0.00
0.00

1,329,357,085.52

8,361

268

0
0

8,093

532,107.73

Extra Principal

Trigger Event

0.00

55,228,283.33

Over Collateralization Amt

28,859,606.37

Less Extra Principal

Remittance Interest

0.00

8,963,882.17

0.00

54,292,178.33

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(1,384.59

8,965,266.75

Total Fees

533,492.32

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

1.29

0.00

1,384.59

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 4 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Statement Date:

Cash Reconciliation Summary Group I Loans - Fixed 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

194,551.65

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

25,406.30

937.49

611,125.55

0.00
0.00
0.00

832,053.09

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

32,105,044.84

25,406.30

612,063.04

0.00
0.00
0.00

31,467,575.50

134

0
0

132

12,930.79

Trigger Event

637,469.34

Over Collateralization Amt

28,859,606.37

Remittance Interest

194,551.65

0.00

612,063.04

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(32.11

194,583.75

Total Fees

12,962.89

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

1.29

0.00

32.11

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 5 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Statement Date:

Cash Reconciliation Summary Group I Loans - Fixed 2nd Lien

Interest Summary

Total Trustee Fees

Available Interest

105,813.84

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

7,382.91

429.18

664,937.77

0.00
0.00
0.00

778,573.32

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

9,611,394.03

7,382.91

665,366.95

0.00
0.00
0.00

8,938,644.17

142

0
0

133

3,000.34

Trigger Event

672,749.86

Over Collateralization Amt

28,859,606.37

Remittance Interest

105,813.84

0.00

665,366.95

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(9.61

105,823.46

Total Fees

3,009.95

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

1.29

0.00

9.61

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 6 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Statement Date:

Cash Reconciliation Summary Group I Loans - ARM-228

Interest Summary

Total Trustee Fees

Available Interest

1,749,256.63

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

142,179.85

223,494.37

15,340,955.80

0.00
0.00
0.00

17,456,148.24

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

261,592,416.56

142,179.85

15,564,450.17

0.00
0.00
0.00

245,885,786.54

1,214

0
0

1,158

97,643.04

Trigger Event

15,706,630.02

Over Collateralization Amt

28,859,606.37

Remittance Interest

1,749,256.63

0.00

15,564,450.17

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(261.59

1,749,518.22

Total Fees

97,904.63

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

1.29

0.00

261.59

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 7 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Statement Date:

Cash Reconciliation Summary Group I Loans - ARM-327

Interest Summary

Total Trustee Fees

Available Interest

278,897.60

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

28,104.45

1,959.43

1,487,347.10

0.00
0.00
0.00

1,796,354.27

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

45,695,256.23

28,104.45

1,489,306.53

0.00
0.00
0.00

44,177,845.25

255

0
0

248

17,326.52

Trigger Event

1,517,410.98

Over Collateralization Amt

28,859,606.37

Remittance Interest

278,897.60

0.00

1,489,306.53

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(45.70

278,943.29

Total Fees

17,372.22

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

1.29

0.00

45.70

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 8 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Statement Date:

Cash Reconciliation Summary Group II Loans - Fixed 1st Lien

Interest Summary

Total Trustee Fees

Available Interest

1,146,165.80

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

165,536.00

7,624.15

3,677,086.90

0.00
0.00
0.00

4,996,600.50

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

187,646,580.74

165,536.00

3,684,711.05

0.00
0.00
0.00

183,796,333.69

1,355

0
0

1,330

74,819.59

Trigger Event

3,850,247.05

Over Collateralization Amt

28,859,606.37

Remittance Interest

1,146,165.80

0.00

3,684,711.05

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(187.65

1,146,353.45

Total Fees

75,007.24

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

1.29

0.00

187.65

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 9 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Statement Date:

Cash Reconciliation Summary Group II Loans - Fixed 2nd Lien

Interest Summary

Total Trustee Fees

Available Interest

88,558.04

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

6,649.21

1,649.99

307,597.11

0.00
0.00
0.00

404,463.42

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

9,071,294.66

6,649.21

309,247.10

0.00
0.00
0.00

8,755,398.35

259

0
0

252

3,578.78

Trigger Event

315,896.31

Over Collateralization Amt

28,859,606.37

Remittance Interest

88,558.04

0.00

309,247.10

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(9.07

88,567.11

Total Fees

3,587.85

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

1.29

0.00

9.07

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 10 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Statement Date:

Cash Reconciliation Summary Group II Loans - ARM 228

Interest Summary

Total Trustee Fees

Available Interest

4,571,645.49

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

456,372.43

79,831.79

27,669,426.19

0.00
0.00
0.00

32,777,979.89

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

703,983,827.94

456,372.43

27,749,257.98

0.00
0.00
0.00

675,778,197.53

4,106

139

0
0

3,967

270,691.06

Trigger Event

28,205,630.41

Over Collateralization Amt

28,859,606.37

Remittance Interest

4,571,645.49

0.00

27,749,257.98

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(703.98

4,572,349.48

Total Fees

271,395.05

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

1.29

0.00

703.98

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 11 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Statement Date:

Cash Reconciliation Summary Group II Loans - ARM 327

Interest Summary

Total Trustee Fees

Available Interest

828,993.11

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

104,473.85

5,689.86

4,212,085.65

0.00
0.00
0.00

5,151,377.35

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

134,879,553.85

104,473.85

4,217,775.51

0.00
0.00
0.00

130,557,304.49

896

0
0

873

52,117.61

Trigger Event

4,322,249.36

Over Collateralization Amt

28,859,606.37

Remittance Interest

828,993.11

0.00

4,217,775.51

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(134.88

829,127.99

Total Fees

52,252.49

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

1.29

0.00

134.88

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 12 of 45

Bear Stearns Asset Backed Securities I Trust

Class

Payment Date:

Prior Payment:

Next Payment:

Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Bond Interest Reconciliation

Additions

Accrual

Method Days

Statement Date:

Accrued

Certificate

Interest

Prior

Int Carry-Fwd

Shortfall

Prior

Shortfall

Reimbursement

Other

Interest

Proceeds

Other

Interest

Losses

Current

Int Carry-Fwd

Shortfall

Current Basis

Risk Carry-Fwd

Shortfall

Remaining

Int Carry-Fwd

Shortfall

Remaining Basis

Risk Carry-Fwd

Shortfall

Net Cap Rate

in Effect

Y/N

Distributable

Certificate

Interest

Payment

Amount

Deductions

Outstanding

Deposits from

SWAP

Agreement

0.00

I-A-1

422,739.10

Act/360

0.00

422,739.10

0.00

I-A-2

239,359.79

Act/360

0.00

239,359.79

0.00

I-A-3

61,825.46

Act/360

0.00

61,825.46

0.00

II-A-1

1,755,208.46

Act/360

0.00

1,755,208.46

0.00

II-A-2

444,135.86

Act/360

0.00

444,135.86

0.00

M-1

296,572.92

Act/360

0.00

296,572.92

0.00

M-2

260,718.79

Act/360

0.00

260,718.79

0.00

M-3

89,997.46

Act/360

0.00

89,997.46

0.00

M-4

70,726.57

70,726.58

Act/360

0.00

70,726.58

0.00

M-5

69,414.49

Act/360

0.00

69,414.49

0.00

M-6

79,624.97

Act/360

0.00

79,624.97

0.00

M-7

115,351.81

128,846.25

Act/360

0.00

115,351.81

0.00

3,332,336.31

30/360

0.00

1,018,982.85

0.00

3,905,675.69

4,924,658.53

8,270,489.29

0.00

(2) Interest Carry-Forward Shortfall is unpaid interest with interest thereon
(3) Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

Page 13 of 45

(1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

Bear Stearns Asset Backed Securities I Trust

Payment Date:

Prior Payment:
Next Payment:

Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Bond Principal Reconciliation

Credit Support

Original

Current(4)

Statement Date:

Beginning

Class Balance

Unscheduled

Principal
Payment

Extra

Principal

Payment Amt

Prior

Loss

Reimburs.

Rated

Final

Maturity

Class

Current

Losses

Original

Class Balance

Scheduled

Principal
Payment

Ending

Class Balance

Cumulative

Losses

Interest on

Losses

Additions

Losses

5.00
1.00

I-A-1

19.16%

21.96%

1/25/2035

140,989,927.23

0.00

159,524,187.43

191,996,000.00

203,073.51

0.00

18,331,186.69

I-A-2

19.16%

21.96%

1/25/2035

88,379,000.00

0.00

88,379,000.00

0.00

I-A-3

19.16%

21.96%

1/25/2035

22,015,000.00

0.00

22,015,000.00

0.00

II-A-1

19.16%

21.96%

1/25/2035

610,842,380.09

0.00

640,197,614.87

721,706,000.00

586,425.52

0.00

28,768,809.26

II-A-2

19.16%

21.96%

1/25/2035

152,710,171.83

0.00

160,048,960.18

180,426,000.00

146,605.97

0.00

7,192,182.38

M-1

12.44%

14.25%

1/25/2035

100,250,000.00

0.00

100,250,000.00

0.00

M-2

6.98%

8.00%

1/25/2035

81,263,000.00

0.00

81,263,000.00

0.00

M-3

5.15%

5.90%

1/25/2035

27,341,000.00

0.00

27,341,000.00

0.00

M-4

3.87%

4.44%

1/25/2035

18,987,000.00

0.00

18,987,000.00

0.00

M-5

2.65%

3.04%

1/25/2035

18,227,000.00

0.00

18,227,000.00

0.00

M-6

1.48%

1.69%

1/25/2035

17,468,000.00

0.00

17,468,000.00

0.00

M-7

0.00%

1/25/2035

22,025,000.00

0.00

22,025,000.00

0.00

1/25/2035

28,859,606.37

0.00

28,859,606.37

0.00

1/25/2035

100.00

0.00

100.00

0.00

936,105.00

0.00

54,292,178.33

0.00

1,518,942,706.37

1,329,357,185.52

1,384,585,468.85

Page 14 of 45

(1) Extra Principal Amounts: the lessor of (i) the excess, if any, of the overcollateralization Target Amount over the Overcollateralization Amount.

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Interest Adjustments Summary

Statement Date

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

0.00

Misc. Fees & Expenses Paid by/to Servicer

Interest Paid to Servicer on Outstanding Advances

0.00

ASER Interest Advance Reduction

Interest Not Advanced (Current Period)

Recoup of Prior Advances by Servicer

0.00

Servicing Fees Paid Servicer on Loans Not Advanced

Misc. Fees & Expenses Paid by Trust

0.00

Shortfall Due to Rate Modification

Total Shortfall Allocated to the Bonds

Total Interest Adjustment to the Bonds

0.00

Shortfall Allocated to the Bonds:

Excess Allocated to the Bonds:

Other Interest Proceeds Due the Bonds

Yield Maintenance Penalties Due the Bonds

Prepayment Penalties Due the Bonds

Recovered ASER Interest Due the Bonds

Recovered Interest Due the Bonds

Less Total Shortfall Allocated to the Bonds

Total Excess Allocated to the Bonds

1,018,982.85

1,018,982.85

Total Excess Allocated to the Bonds

1,018,982.85

0.00

Aggregate Interest Adjustment Allocated to the Bonds

0.00

1,018,982.85

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Other Interest Loss

Interest Income

0.00

Page 15 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

SWAP Payments

Statement Date:

Net Swap payment payable to the Swap Provider

Net Swap payment payable to the Swap Administrator

Swap Termination payment payable to the Swap Administrator

Swap Termination payment payable to the Swap Provider

0.00

693,392.88

0.00

Page 16 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Rating Information

Class

CUSIP

Fitch

Moody's

S&P

Fitch

Moody's

S&P

Original Ratings

Rating Change/Change Date(1)

Statement Date:

I-A-1

073879PL6

Aaa

AAA

I-A-2

073879PM4

Aaa

AAA

I-A-3

073879PN2

Aaa

AAA

II-A-1

073879PP7

Aaa

AAA

II-A-2

073879PQ5

Aaa

AAA

M-1

073879PR3

Aa2

M-2

073879PS1

M-3

073879PT9

A-

M-4

073879PU6

Baa1

BBB+

M-5

073879PV4

Baa2

BBB

M-6

073879PW2

Baa3

BBB-

M-7

073879PX0

Ba2

073879PZ5

073879PY8

Page 17 of 45

NR - Designates that the class was not rated by the rating agency.

(1) Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be understood that this transmission will generally have been provided to
LaSalle within 30 days of the payment date listed on this statement. Because ratings may have changed during the 30 day window, or may not be being provided by the rating agency in an electronic format and therefore not
being updated on this report, LaSalle recommends that investors obtain current rating information directly from the rating agency.

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

2.19%

2.02%

0.85%

0.95%

0.25%

3,331,897

0.25%

0.48%

0.49%

0.00%

25-May-05

177

26,850,806

12,634,024

6,578,098

7,788

1,279,962,261

96.23%

96.28%

2.11%

2.22%

0.67%

0.74%

0.12%

1,401,767

0.10%

0.29%

0.30%

0.00%

25-Apr-05

176

30,683,788

10,248,352

4,152,956

8,095

1,338,098,506

96.82%

96.64%

2.03%

2.20%

0.67%

0.72%

0.02%

470,186

0.03%

0.01%

0.00%

25-Mar-05

175

31,650,147

10,337,763

151,683

8,387

1,397,466,974

97.26%

97.04%

2.24%

2.30%

0.05%

0.00%

25-Feb-05

197

34,012,083

672,133

8,613

1,445,749,793

97.72%

97.66%

Page 18 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group I Loans - Fixed 1st Lien

3.03%

1.43%

0.76%

1.56%

0.00%

2.27%

1.44%

0.00%

25-May-05

448,443

491,966

452,245

124

30,074,922

93.94%

95.57%

2.24%

3.19%

1.49%

1.03%

0.00%

0.75%

0.38%

0.00%

25-Apr-05

1,025,180

331,040

121,490

128

30,627,336

95.52%

95.40%

3.68%

3.26%

0.74%

0.38%

0.00%

25-Mar-05

1,056,271

121,619

130

31,182,003

95.59%

96.36%

0.73%

0.37%

0.00%

25-Feb-05

121,748

136

32,719,966

99.27%

99.63%

Page 19 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group I Loans - Fixed 2nd Lien

0.75%

0.78%

0.75%

0.71%

0.75%

70,816

0.79%

0.00%

25-May-05

69,398

63,246

130

8,735,184

97.74%

97.72%

3.52%

3.46%

1.41%

1.48%

0.00%

25-Apr-05

332,958

141,866

135

9,136,570

95.07%

95.06%

2.05%

2.48%

0.00%

25-Mar-05

247,726

143

9,742,687

97.95%

97.52%

2.03%

2.05%

0.00%

25-Feb-05

208,667

145

9,973,880

97.97%

97.95%

Page 20 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group I Loans - ARM-228

3.20%

2.55%

1.38%

1.54%

0.35%

427,012

0.17%

0.69%

0.65%

0.00%

25-May-05

6,272,003

3,787,750

1,589,990

1,093

233,809,033

94.39%

95.09%

3.21%

3.44%

0.58%

0.59%

0.25%

564,844

0.22%

0.66%

0.62%

0.00%

25-Apr-05

8,987,653

1,538,286

1,625,176

1,157

248,876,457

95.30%

95.14%

2.48%

2.67%

0.88%

0.93%

0.00%

0.08%

0.06%

0.00%

25-Mar-05

7,290,697

2,540,685

151,683

1,205

262,683,500

96.55%

96.34%

2.45%

2.32%

0.08%

0.05%

0.00%

25-Feb-05

6,451,939

151,777

1,235

271,728,412

97.47%

97.63%

Page 21 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group I Loans - ARM-327

5.65%

3.42%

1.21%

1.40%

0.00%

0.40%

0.15%

0.00%

25-May-05

1,511,202

620,095

65,296

230

41,981,251

92.74%

95.03%

3.92%

3.91%

0.78%

0.68%

0.00%

0.39%

0.14%

0.00%

25-Apr-05

1,786,509

308,728

65,334

242

43,534,685

94.90%

95.27%

4.23%

3.94%

0.77%

0.29%

0.00%

25-Mar-05

1,840,727

136,682

247

44,715,666

95.00%

95.77%

4.55%

2.86%

0.00%

25-Feb-05

1,356,106

252

46,078,749

95.45%

97.14%

Page 22 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group II Loans - Fixed 1st Lien

0.90%

0.74%

0.45%

0.08%

96,445

0.05%

0.23%

0.30%

0.00%

25-May-05

1,362,980

835,808

548,193

1,308

180,952,907

98.35%

98.45%

1.11%

0.94%

0.22%

0.30%

0.15%

147,200

0.08%

0.15%

0.14%

0.00%

25-Apr-05

1,769,047

570,978

265,684

1,333

184,893,672

98.38%

98.53%

1.01%

0.36%

0.31%

0.00%

25-Mar-05

1,936,703

602,899

1,361

189,860,673

98.62%

98.68%

1.00%

1.01%

0.00%

25-Feb-05

1,986,780

1,391

195,443,216

99.00%

98.99%

Page 23 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group II Loans - Fixed 2nd Lien

0.00%

0.40%

0.25%

0.00%

25-May-05

22,223

251

8,733,175

99.60%

99.75%

0.39%

0.25%

0.00%

25-Apr-05

22,249

258

9,049,045

99.61%

99.75%

0.37%

0.18%

0.37%

0.55%

0.00%

25-Mar-05

16,530

51,866

265

9,324,688

99.25%

99.27%

0.37%

0.55%

0.00%

25-Feb-05

51,889

269

9,427,750

99.63%

99.45%

Page 24 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group II Loans - ARM 228

2.42%

2.28%

0.98%

0.99%

0.33%

2,646,115

0.39%

0.48%

0.00%

25-May-05

15,441,442

6,684,844

3,237,354

3,800

647,768,442

95.79%

95.86%

2.22%

2.15%

0.88%

0.97%

0.10%

580,732

0.08%

0.24%

0.00%

25-Apr-05

15,123,876

6,847,560

1,713,197

3,965

679,718,464

96.57%

96.55%

2.30%

2.40%

0.75%

0.83%

0.05%

470,186

0.06%

0.00%

25-Mar-05

17,696,471

6,088,011

4,137

713,577,468

96.91%

96.71%

2.67%

2.76%

0.05%

0.04%

0.00%

25-Feb-05

117

20,979,350

301,142

4,264

740,064,976

97.28%

97.20%

Page 25 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group II Loans - ARM 327

1.49%

1.34%

0.23%

0.10%

0.11%

91,509

0.07%

0.57%

0.52%

0.00%

25-May-05

1,745,337

128,091

685,020

852

127,907,347

97.59%

97.97%

1.34%

1.21%

0.45%

0.38%

0.11%

108,991

0.08%

0.22%

0.27%

0.00%

25-Apr-05

1,636,316

509,893

362,076

877

132,262,278

97.88%

98.06%

1.31%

1.13%

0.65%

0.57%

0.00%

25-Mar-05

1,565,022

796,001

899

136,380,289

98.04%

98.30%

1.91%

1.99%

0.11%

0.15%

0.00%

25-Feb-05

2,855,604

219,214

921

140,312,844

97.98%

97.86%

Page 26 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

281,413

91,730

203,292

6,296,685

940,203

0.00%

0.02%

0.46%

0.47%

0.01%

0.01% 0.02%

0.02% 0.07%

0.07%

0.00%

0.14%

0.13%

1,721,784

0.00%

25-Apr-05

656,269

4,152,956

184,313

0.00%

0.29%

0.30%

0.00%

0.00% 0.05%

0.05% 0.02%

0.01%

0.00%

0.10%

0.06%

852,904

0.00%

25-Mar-05

243,405

151,683

0.00%

0.01%

0.00%

0.00% 0.03%

0.02% 0.00%

0.00%

0.10%

0.07%

963,298

0.00%

25-Feb-05

107,754

0.00%

0.01%

0.01% 0.00%

0.00% 0.00%

0.00%

0.09%

0.05%

780,303

0.00%

Page 27 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group I Loans - Fixed 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

452,245

0.00%

2.27%

1.44%

0.00%

0.00% 0.00%

0.00%

25-Apr-05

121,490

0.00%

0.75%

0.38%

0.00%

0.00% 0.00%

0.00%

25-Mar-05

0.00%

0.00% 0.00%

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

Page 28 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group I Loans - Fixed 2nd Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

25-Mar-05

0.00%

0.00% 0.00%

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

Page 29 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group I Loans - ARM-228

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

91,730

1,589,990

321,478

0.00%

0.69%

0.65%

0.09%

0.04% 0.00%

0.00% 0.26%

0.13%

0.00%

0.09%

0.17%

407,363

0.00%

25-Apr-05

137,348

1,625,176

184,313

0.00%

0.66%

0.62%

0.00%

0.00% 0.08%

0.05% 0.16%

0.07%

0.00%

25-Mar-05

79,704

151,683

0.00%

0.08%

0.06%

0.00%

0.00% 0.08%

0.03% 0.00%

0.00%

0.08%

0.03%

70,168

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

0.08%

0.03%

70,207

0.00%

Page 30 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group I Loans - ARM-327

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

65,296

0.00%

0.40%

0.15%

0.00%

0.00% 0.00%

0.00%

0.40%

0.21%

90,696

0.00%

25-Apr-05

65,334

0.00%

0.39%

0.14%

0.00%

0.00% 0.00%

0.00%

0.39%

0.20%

90,747

0.00%

25-Mar-05

0.00%

0.00% 0.00%

0.00%

0.38%

0.19%

90,798

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

0.38%

0.19%

90,848

0.00%

Page 31 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group II Loans - Fixed 1st Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

138,689

409,504

0.00%

0.08%

0.15%

0.22%

0.00%

0.00% 0.00%

0.00%

0.15%

0.13%

245,923

0.00%

25-Apr-05

265,684

0.00%

0.15%

0.14%

0.00%

0.00% 0.00%

0.00%

0.22%

0.18%

339,188

0.00%

25-Mar-05

0.00%

0.00% 0.00%

0.00%

0.14%

276,696

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

0.07%

0.05%

93,231

0.00%

Page 32 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group II Loans - Fixed 2nd Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

25-Mar-05

0.00%

0.00% 0.00%

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

Page 33 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group II Loans - ARM 228

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

203,292

3,237,354

618,725

0.00%

0.48%

0.00%

0.00% 0.05%

0.03% 0.08%

0.09%

0.00%

0.08%

542,303

0.00%

25-Apr-05

518,921

1,713,197

0.00%

0.24%

0.00%

0.00% 0.07%

0.07% 0.00%

0.00%

0.05%

0.03%

196,336

0.00%

25-Mar-05

163,701

0.00%

0.00% 0.05%

0.02% 0.00%

0.00%

0.07%

0.04%

298,812

0.00%

25-Feb-05

107,754

0.00%

0.02%

0.01% 0.00%

0.00% 0.00%

0.00%

0.07%

0.04%

299,004

0.00%

Page 34 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group II Loans - ARM 327

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-May-05

142,723

542,297

0.00%

0.11%

0.46%

0.42%

0.00%

0.00% 0.00%

0.00%

0.46%

0.33%

435,499

0.00%

25-Apr-05

362,076

0.00%

0.22%

0.27%

0.00%

0.00% 0.00%

0.00%

0.22%

0.17%

226,633

0.00%

25-Mar-05

0.00%

0.00% 0.00%

0.00%

0.22%

0.16%

226,823

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

0.21%

0.16%

227,012

0.00%

Page 35 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

25-May-05

8,093

90.01%

1,329,357,086

87.52%

3.21%

3.90%

0.00%

349

7.39%

6.89%

268

53,970,562

0.00

25-Apr-05

8,361

92.99%

1,384,585,369

91.15%

3.04%

3.78%

0.00%

350

7.39%

6.88%

262

54,479,713

0.00

25-Mar-05

8,623

95.91%

1,440,076,753

94.81%

2.17%

2.65%

0.00%

351

7.39%

6.89%

191

39,269,177

0.00

25-Feb-05

8,814

98.03%

1,480,434,008

97.46%

1.97%

2.44%

0.00%

352

7.40%

6.89%

177

37,112,047

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 36 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group I Loans - Fixed 1st Lien

25-May-05

132

1.47%

31,467,575

2.07%

1.49%

1.90%

0.00%

347

7.11%

6.60%

611,126

0.00

25-Apr-05

134

1.49%

32,105,045

2.11%

1.47%

0.70%

0.00%

348

7.08%

6.58%

228,001

0.00

25-Mar-05

136

1.51%

32,359,893

2.13%

0.73%

1.39%

0.00%

349

7.11%

6.61%

455,000

0.00

25-Feb-05

137

1.52%

32,841,713

2.16%

0.00%

350

7.11%

6.61%

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 37 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group I Loans - Fixed 2nd Lien

25-May-05

133

1.48%

8,938,644

0.59%

6.34%

6.92%

0.00%

221

10.80%

10.30%

664,938

0.00

25-Apr-05

142

1.58%

9,611,394

0.63%

2.74%

3.71%

0.00%

221

10.80%

10.30%

370,973

0.00

25-Mar-05

146

1.62%

9,990,413

0.66%

1.35%

1.81%

0.00%

221

10.81%

10.31%

184,141

0.00

25-Feb-05

148

1.65%

10,182,547

0.67%

3.90%

3.27%

0.00%

222

10.83%

10.33%

344,512

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 38 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group I Loans - ARM-228

25-May-05

1,158

12.88%

245,885,787

16.19%

4.61%

5.86%

0.00%

353

7.46%

6.96%

15,340,956

0.00

25-Apr-05

1,214

13.50%

261,592,417

17.22%

2.72%

4.00%

0.00%

354

7.45%

6.95%

10,896,511

0.00

25-Mar-05

1,248

13.88%

272,666,565

17.95%

1.50%

1.97%

0.00%

355

7.45%

6.95%

5,496,449

0.00

25-Feb-05

1,267

14.09%

278,332,129

18.32%

3.13%

3.71%

0.00%

356

7.46%

6.96%

10,722,640

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 39 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group I Loans - ARM-327

25-May-05

248

2.76%

44,177,845

2.91%

2.75%

3.25%

0.00%

352

7.69%

7.18%

1,487,347

0.00

25-Apr-05

255

2.84%

45,695,256

3.01%

1.92%

2.07%

0.00%

353

7.67%

7.17%

967,558

0.00

25-Mar-05

260

2.89%

46,693,074

3.07%

1.52%

1.50%

0.00%

354

7.70%

7.19%

711,250

0.00

25-Feb-05

264

2.94%

47,434,855

3.12%

1.86%

2.84%

0.00%

355

7.69%

7.19%

1,387,505

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 40 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group II Loans - Fixed 1st Lien

25-May-05

1,330

14.79%

183,796,334

12.10%

1.85%

1.96%

0.00%

340

7.50%

7.00%

3,677,087

0.00

25-Apr-05

1,355

15.07%

187,646,581

12.35%

1.81%

2.38%

0.00%

341

7.49%

6.99%

4,576,807

0.00

25-Mar-05

1,380

15.35%

192,400,275

12.67%

1.78%

2.46%

0.00%

342

7.49%

6.99%

4,849,581

0.00

25-Feb-05

1,405

15.63%

197,429,996

13.00%

1.20%

1.41%

0.00%

342

7.49%

6.99%

2,832,827

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 41 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group II Loans - Fixed 2nd Lien

25-May-05

252

2.80%

8,755,398

0.58%

2.70%

3.39%

0.00%

242

10.55%

10.05%

307,597

0.00

25-Apr-05

259

2.88%

9,071,295

0.60%

3.00%

3.33%

0.00%

241

10.56%

10.06%

313,227

0.00

25-Mar-05

267

2.97%

9,393,085

0.62%

1.11%

0.83%

0.00%

241

10.56%

10.06%

78,562

0.00

25-Feb-05

270

3.00%

9,479,639

0.62%

1.46%

1.86%

0.00%

242

10.57%

10.07%

179,925

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 42 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group II Loans - ARM 228

25-May-05

3,967

44.12%

675,778,198

44.49%

3.39%

3.93%

0.00%

353

7.31%

6.81%

139

27,669,426

0.00

25-Apr-05

4,106

45.67%

703,983,828

46.35%

3.82%

4.52%

0.00%

354

7.31%

6.81%

163

33,374,320

0.00

25-Mar-05

4,269

47.48%

737,832,136

48.58%

2.60%

3.02%

0.00%

355

7.32%

6.82%

114

22,961,906

0.00

25-Feb-05

4,383

48.75%

761,345,468

50.12%

1.97%

2.36%

0.00%

356

7.33%

6.83%

18,407,738

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 43 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group II Loans - ARM 327

25-May-05

873

9.71%

130,557,304

8.60%

2.57%

3.12%

0.00%

352

7.00%

6.50%

4,212,086

0.00

25-Apr-05

896

9.97%

134,879,554

8.88%

2.29%

2.70%

0.00%

353

7.01%

6.51%

3,752,317

0.00

25-Mar-05

917

10.20%

138,741,313

9.13%

2.45%

3.16%

0.00%

354

7.01%

6.51%

4,532,288

0.00

25-Feb-05

940

10.45%

143,387,661

9.44%

1.67%

2.21%

0.00%

355

7.01%

6.51%

3,236,900

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 44 of 45

Bear Stearns Asset Backed Securities I Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-May-05
25-May-05

25-Apr-05

27-Jun-05

24-May-05

Asset-Backed Certificates

Series 2005-HE1

ABN AMRO Acct: 722299.2

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation

Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

Not Avail.

Current Total
Cumulative

Page 45 of 45

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

BEAR STEARNS ASSET BACKED SECURITIES I TRUST 2005-HE1 8-K