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 20, 2005

HSI Asset Securitization Corporation

(Exact Name of Registrant as Specified in its Charter)

Delaware

333-124032

20-2592898

(State or Other Jurisdiction

Of Incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

452 Fifth Avenue

New York, New York

10018

(Address of Principal

Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (212) 525-8119

None

(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:

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

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

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

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

Item 8.01. Other Events

The Registrant registered issuances of its HSI Asset Securitization Corporation Trust 2005-I1 Mortgage Pass-Through Certificates, Series 2005-I1, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by a Registration Statement on Form S-3 (Registration File No. 333-124032) (the “Registration Statement”). Pursuant to the Registration Statement, the Registrant issued $571,994,000 aggregate principal amount of Class I-A, Class II-A-1, Class II-A-2, Class II-A-3, Class II-A-4, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-6 Certificates of its HSI Asset Securitization Corporation Trust 2005-I1 Mortgage Pass-Through Certificates, Series 2005-I1 on December 20, 2005. This Current Report on Form 8-K is being filed to satisfy an undertaking, contained in the definitive Prospectus dated July 11, 2005, as supplemented by the Prospectus Supplement dated December 16, 2005 (the “Prospectus Supplement”), to file a copy of the Pooling and Servicing Agreement (as defined below) and other operative agreements executed in connection with the issuance of the Certificates, a form of which was filed as an exhibit to the Registration Statement.

The Certificates were issued pursuant to a Pooling and Servicing Agreement (the “Pooling Agreement”), attached hereto as Exhibit 4.1, dated as of November 1, 2005, among HSI Asset Securitization Corporation Trust, as Depositor, JP Morgan Chase Bank, National Association, National City Home Loan Services, Inc. and Option One Mortgage Corporation, each as a Servicer, First Franklin Financial Corporation, Option One Mortgage Corporation and NC Crystal Capital Corporation, each as Mortgage Loan Originators, Clayton Fixed Income Services Inc., as Credit Risk Manager, Wells Fargo Bank, N.A., as Master Servicer, Securities Administrator and Custodian and Deutsche Bank National Trust Company, as Trustee. The Certificates consist of the following classes: Class I-A, Class II-A-1, Class II-A-2, Class II-A-3, Class II-A-4, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class X, Class P and Class R. The Certificates evidence all of the beneficial ownership interest in a trust fund (the “Trust Fund”) that consists primarily of a pool of certain conventional, first and second lien, adjustable and fixed rate, fully amortizing and balloon, residential mortgage loans (the “Mortgage Loans”) with an aggregate outstanding principal balance of approximately $503,631,523.46 as of November 1, 2005. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Pooling Agreement.

Item 9.01. Financial Statements and Exhibits

(a)

Not applicable.

(b)

Not applicable.

(c)

Not applicable.

(d)

Exhibits:

4.1

Pooling and Servicing Agreement dated as of November 1, 2005, among HSI Asset Securitization Corporation, as Depositor, JP Morgan Chase Bank, National Association, National City Home Loan Services, Inc. and Option One Mortgage Corporation, each as a Servicer, First Franklin Financial Corporation, Option On Mortgage Corporation and NC Capital Corporation, each as a Mortgage Loan Originator, Clayton Fixed Income Services Inc., as Credit Risk Manager, Wells Fargo Bank, N.A., as Master Servicer, Securities Administrator and Custodian, and Deutsche Bank National Trust Company, as Trustee.

99.1

Mortgage Loan Purchase Agreement dated as of December 1, 2005, between HSI Asset Securitization Corporation, as Depositor, and HSBC Bank USA, National Association, as Seller.

99.2

Confirmation and Schedule to ISDA Master Agreement relating to Interest Rate Swap Agreement between Bear Stearns Financial Products Inc. and the Supplemental Interest Trust of HSI Asset Securitization Corporation Trust Series 2005-I1, dated as of December 20, 2005, including schedule to the master agreement.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HSI ASSET SECURITIZATION CORPORATION

By:

/s/ Andrea Lenox

Name: Andrea Lenox

Title: Vice President

Dated: December 20, 2005

EXHIBIT INDEX

Exhibit No.

Description

4.1

99.1

Mortgage Loan Purchase Agreement dated as of December 1, 2005, between HSI Asset Securitization Corporation, as Depositor, and HSBC Bank USA, National Association, as Seller.

99.2

HSI Asset Securitization CORP Trust 2005-I1 8-K