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

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

Delaware
(State or other jurisdiction
of incorporation)

333-125422
(Commission
File Number)

20-0842986
(IRS Employer
Identification No.)

383 Madison Avenue, New York, New York
(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 SACO I Trust 2005-WM2 Mortgage-Backed Certificates, Series 2005-WM2, which was made on December 27, 2005.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(Exhibit No. Description)
99.1 Monthly distribution report pursuant to section 5.06 of the Pooling and Servicing Agreement for the distribution on December 27, 2005.

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: January 3, 2006

SACO I Trust

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

Reporting Package Table of Contents

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Administrator:
Robert Waddell 312.904.6257
robert.waddell@abnamro.com

Analyst:
William Wong 714.259.6243
william.wong@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

Other Related Information

Shortfall 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 4-6
Page 7
Page 8

Page 9

Page 10
Page 11

Page 12
Page 13

Page 14

Realized Loss Detail

Page 15

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

SACO5WM2

SACO5WM2_200512_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

30-Sep-05
25-Oct-05

25-Jul-35

Parties to The Transaction

Issuer: Bear Stearns Asset Backed Securities I LLC

Depositor: Bear Stearns Asset Backed Securities, Inc.

Underwriter: Bear Stearns & Co. Inc.

Master Servicer: EMC Mortgage Corporation

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

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.emcmortgagecorp.com

www.etrustee.net

Page 1 of 15

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:

10.359719%

4.193750%
4.378750%

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

SACO I Trust

Mortgage-Backed Certificates

Series 2005-WM2

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

347

Bond Payments

Statement Date:

ABN AMRO Acct: 723031.1

915.997521380

49.307108179

0.000000000

866.690413201

3.642616843

4.6587500000%

0.00

0.000000000

4.4737500000%

0.000000000

785778JV4

A-1

102,081,000.00

5,033,318.91

0.00

88,472,624.07

371,841.97

93,505,942.98

865.868914435

78.731199981

0.000000000

787.137714455

3.312429636

4.4887500000%

0.00

0.000000000

4.3037500000%

0.000000000

785778JW2

A-2

147,269,000.00

11,594,665.09

0.00

115,920,984.07

487,818.20

127,515,649.16

1000.000000000

0.000000000

1000.000000000

4.056666705

4.7487500000%

0.00

0.000000000

4.5637500000%

0.000000000

785778JX0

A-3

87,883,000.00

0.00

87,883,000.00

356,512.04

87,883,000.00

1000.000000000

0.000000000

1000.000000000

4.216666667

4.9287500000%

0.00

0.000000000

4.7437500000%

0.000000000

785778JY8

M-1

57,570,000.00

0.00

57,570,000.00

242,753.50

57,570,000.00

1000.000000000

0.000000000

1000.000000000

4.261111210

4.9787500000%

0.00

0.000000000

4.7937500000%

0.000000000

785778JZ5

M-2

11,258,000.00

0.00

11,258,000.00

47,971.59

11,258,000.00

1000.000000000

0.000000000

1000.000000000

4.305555637

5.0287500000%

0.00

0.000000000

4.8437500000%

0.000000000

785778KA8

M-3

13,561,000.00

0.00

13,561,000.00

58,387.64

13,561,000.00

1000.000000000

0.000000000

1000.000000000

4.332222512

5.0587500000%

0.00

0.000000000

4.8737500000%

0.000000000

785778KB6

M-4

11,514,000.00

0.00

11,514,000.00

49,881.21

11,514,000.00

1000.000000000

0.000000000

1000.000000000

4.394444189

5.1287500000%

0.00

0.000000000

4.9437500000%

0.000000000

785778KC4

M-5

8,699,000.00

0.00

8,699,000.00

38,227.27

8,699,000.00

1000.000000000

0.000000000

1000.000000000

5.416666411

N/A

0.00

0.000000000

6.5000000000%

0.000000000

785778KD2

B-1

13,049,000.00

0.00

13,049,000.00

70,682.08

13,049,000.00

1000.000000000

0.000000000

1000.000000000

5.416666315

N/A

0.00

0.000000000

6.5000000000%

0.000000000

785778KE0

B-2

9,467,000.00

0.00

9,467,000.00

51,279.58

9,467,000.00

1000.000000000

0.000000000

1000.000000000

5.416666232

N/A

0.00

0.000000000

6.5000000000%

0.000000000

785778KF7

B-3

7,676,000.00

0.00

7,676,000.00

41,578.33

7,676,000.00

1000.000000000

0.000000000

1000.000000000

5.416666796

N/A

0.00

0.000000000

6.5000000000%

0.000000000

785778KG5

B-4

25,843,000.00

0.00

25,843,000.00

139,982.92

25,843,000.00

1000.000000000

0.000000000

1000.000000000

16.186902060

0.00

)

(1,792,476.82

)

(112.991003215

N/A

0.000000000

785778KH3

15,863,889.77

0.00

15,863,889.77

256,787.23

15,863,889.77

0.000000000

0.00

0.000000000

N/A

0.000000000

785778KJ9

R-1

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

785778KK6

R-2

0.00

Page 2 of 15

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:

10.359719%

4.193750%
4.378750%

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

SACO I Trust

Mortgage-Backed Certificates

Series 2005-WM2

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

347

Bond Payments

Statement Date:

ABN AMRO Acct: 723031.1

Total P&I Payment

0.00

)

(1,792,476.82

511,733,889.77

483,405,481.91

18,841,687.56

Total

466,777,497.91

16,627,984.00

0.00

2,213,703.56

Page 3 of 15

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

Statement Date:

Cash Reconciliation Summary

Interest Summary

Available Interest

4,262,934.60

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

235,208.91

50,261.00

14,292,504.71

0.00
0.00

778.33

18,847,167.83

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

488,194,942.27

235,208.91

14,342,765.71

0.00
0.00
0.00

473,616,967.65

9,046

227

0
0

8,808

186,697.47

Overcollateralization Increase Amt

Trigger Event

2,049,231.04

16,627,983.99

Overcollateralization Amt

20,654,128.46

Less OC Increase Amount

Remittance Interest

)

(2,049,231.04

2,213,703.56

16,392,775.08

Interest Due Trust

4,268,414.88

Total Fees

192,177.75

Reimbursement Amt

Class II-A Policy - Interest

Class II-A Policy - Principal
Other

Rolling 3-Month Delinquency

1.70

Total LPMI Fees

0.00

0.00
0.00

0.00

Less Extraordinary Trust Expense

0.00

Master Servicing Fees

0.00
0.00

Trustee Fees

5,480.28

Total Reimbursement Amt

Page 4 of 15

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

Statement Date:

Cash Reconciliation Summary Trust Mortgage Loans

Interest Summary

Available Interest

4,263,714.19

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

235,208.91

50,261.00

14,004,030.18

0.00
0.00

778.33

18,559,472.89

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

487,136,315.79

235,208.91

14,054,291.18

0.00
0.00
0.00

472,846,815.70

8,972

227

0
0

8,745

186,697.47

Trigger Event

14,290,278.42

Overcollateralization Amt

20,654,128.46

Remittance Interest

4,263,714.19

14,055,069.51

Interest Due Trust

4,269,194.47

Total Fees

192,177.75

Reimbursement Amt

Class II-A Policy - Interest

Class II-A Policy - Principal
Other

Rolling 3-Month Delinquency

1.70

Total LPMI Fees

0.00

0.00
0.00

0.00

Less Extraordinary Trust Expense

0.00

Master Servicing Fees

0.00
0.00

Trustee Fees

5,480.28

Total Reimbursement Amt

Page 5 of 15

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

Statement Date:

Cash Reconciliation Summary Subsequent Mortgage Loans

Interest Summary

Available Interest

8,687.20

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

0.00

288,474.53

0.00
0.00
0.00

297,161.73

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

1,058,626.48

0.00

288,474.53

0.00
0.00
0.00

770,151.95

0
0

0.00

Trigger Event

288,474.53

Overcollateralization Amt

20,654,128.46

Remittance Interest

8,687.20

288,474.53

Interest Due Trust

8,687.20

Total Fees

0.00

Reimbursement Amt

Class II-A Policy - Interest

Class II-A Policy - Principal
Other

Rolling 3-Month Delinquency

1.70

Total LPMI Fees

0.00

0.00
0.00

0.00

Less Extraordinary Trust Expense

0.00

Master Servicing Fees

0.00
0.00

Trustee Fees

0.00

Total Reimbursement Amt

Page 6 of 15

SACO I Trust

Class

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

Bond Interest Reconciliation

Additions

Accrual

Method Days

Statement Date:

Accrued

Certificate

Interest

Prior

Int Carry-Fwd

Shortfall

Prior

Shortfall

Reimbursement

Other

Int ere st

Proceeds

Other

Int ere st

Losses

Current

Int Carry-Fwd

Shortfall

Remaining

Int Carry-Fwd

Shortfall

Net Cap Rate

in Effect

Y/ N

Distributable

Certificate

Int ere st

Payment

Amount

Deductions

Outstanding

Deposits from YM

Agreement

Remaining Basis Risk

Carry-Fwd Shortfall

Current Basis Risk

Carry-Fwd Shortfall

0.00

A-1

Act/360

371,841.97

0.00

371,841.97

0.00

A-2

Act/360

487,818.20

0.00

487,818.20

0.00

A-3

Act/360

356,512.04

0.00

356,512.04

0.00

M-1

Act/360

242,753.50

0.00

242,753.50

0.00

M-2

Act/360

47,971.59

0.00

47,971.59

0.00

M-3

Act/360

58,387.64

0.00

58,387.64

0.00

M-4

Act/360

49,881.21

0.00

49,881.21

0.00

M-5

Act/360

38,227.27

0.00

38,227.27

0.00

B-1

30/360

70,682.08

0.00

70,682.08

0.00

B-2

30/360

51,279.58

0.00

51,279.58

0.00

B-3

30/360

41,578.33

0.00

41,578.33

0.00

B-4

30/360

139,982.92

0.00

139,982.92

0.00

2,049,264.05

0.00

2,306,051.28

256,787.23

0.00

4,006,180.38

0.00

4,262,967.61

2,213,703.56

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 7 of 15

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

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

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

3.00
1.00

A-1

7/25/2035

88,472,624.07

0.00

93,505,942.98

102,081,000.00

71,198.14

0.00

620,305.71

4,341,815.06

A-2

7/25/2035

115,920,984.07

0.00

127,515,649.16

147,269,000.00

164,010.77

0.00

1,428,925.34

10,001,728.98

A-3

7/25/2035

87,883,000.00

0.00

87,883,000.00

0.00

M-1

7/25/2035

57,570,000.00

0.00

57,570,000.00

0.00

M-2

7/25/2035

11,258,000.00

0.00

11,258,000.00

0.00

M-3

7/25/2035

13,561,000.00

0.00

13,561,000.00

0.00

M-4

7/25/2035

11,514,000.00

0.00

11,514,000.00

0.00

M-5

7/25/2035

8,699,000.00

0.00

8,699,000.00

0.00

B-1

7/25/2035

13,049,000.00

0.00

13,049,000.00

0.00

B-2

7/25/2035

9,467,000.00

0.00

9,467,000.00

0.00

B-3

7/25/2035

7,676,000.00

0.00

7,676,000.00

0.00

B-4

7/25/2035

25,843,000.00

0.00

25,843,000.00

0.00

7/25/2035

15,863,889.77

0.00

15,863,889.77

0.00

235,208.91

0.00

14,343,544.05

2,049,231.04

511,733,889.77

466,777,497.91

483,405,481.91

Page 8 of 15

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

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

Other Related Information

Statement Date:

Pre-Funding Account

Interest Coverage Account

Pre-Funded Balance

Amount Withdrawn

Remaining Pre-Funded Balance

Interest Coverage Balance

Amount Withdrawn

Remaining Interest Coverage Balance

$1,058,626.48

$288,474.53

$770,151.95

$8,461.36

$8,687.20

)

($225.84

Page 9 of 15

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

Interest Adjustments Summary

Statement
Date:

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

0.00

33.00

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

33.00

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

256,787.23

256,787.23

Total Excess Allocated to the Bonds

256,754.23

)

(33.00

Aggregate Interest Adjustment Allocated to the Bonds

0.00

256,787.23

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 10 of 15

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

Rating Information

Class

CUSIP

Fitch

Moody's

S&P

Fitch

Moody's

S&P

Original Ratings

Rating Change/Change Date(1)

Statement Date:

A-1

785778JV4

Aaa

AAA

A-2

785778JW2

Aaa

AAA

A-3

785778JX0

Aaa

AAA

M-1

785778JY8

Aa2

M-2

785778JZ5

Aa3

AA-

M-3

785778KA8

A+

M-4

785778KB6

M-5

785778KC4

A-

B-1

785778KD2

Baa1

BBB+

B-2

785778KE0

Baa2

BBB

B-3

785778KF7

Baa3

BBB-

B-4

785778KG5

785778KH3

Page 11 of 15

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.

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

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

Trust Mortgage Loans

3.08%

2.90%

1.93%

1.98%

0.98%

4,873,098

1.03%

0.00%

27-Dec-05

269

13,727,877

169

9,385,135

8,221

444,860,705

94.01%

94.08%

3.84%

3.94%

1.31%

1.29%

0.00%

25-Nov-05

346

19,174,756

118

6,268,322

8,545

461,693,238

94.85%

94.78%

2.40%

2.25%

0.00%

25-Oct-05

222

11,312,386

9,023

491,126,236

97.60%

97.75%

Page 12 of 15

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days

90 + Days

# Balance # Balance # Balance

# Balance

Current 31 - 60 Days 61 - 90 Days

90 + Days

# 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 - Trust Mortgage Loans

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Dec-05

423,068

225,354

202,646

0.00%

0.10%

0.09% 0.07%

0.05% 0.07%

0.04%

0.00%

0.34%

0.26%

1,228,470

0.00%

25-Nov-05

254,380

241,767

0.00%

0.08%

0.05% 0.08%

0.05% 0.00%

0.00%

0.38%

0.28%

1,388,175

0.00%

25-Oct-05

97,443

0.00%

0.02%

0.02% 0.00%

0.00% 0.00%

0.00%

0.15%

0.10%

482,112

0.00%

Page 13 of 15

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

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

Trust Mortgage Loans

27-Dec-05

8,745

472,846,816

92.40%

2.53%

2.87%

0.00%

348

10.38%

9.87%

227

14,004,030

0.00

25-Nov-05

9,009

487,136,316

95.19%

2.54%

2.97%

0.01%

60,474

0.01%

349

10.37%

9.85%

235

14,901,511

0.00

(487.38)

25-Oct-05

9,245

502,438,622

98.18%

1.40%

1.55%

0.00%

351

10.37%

9.85%

131

7,926,342

0.00

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

Page 14 of 15

SACO I Trust

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

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage-Backed Certificates

Series 2005-WM2

ABN AMRO Acct: 723031.1

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:

200511

2991

59,986.48

0.00

)

(487.38

60,473.86

0.00%

(0.81%)

Not Avail.

59,986.48

0.00

)

(487.38

60,473.86

Current Total
Cumulative

Page 15 of 15

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

SACO I TRUST, 2005-WM2 8-K