Long Beach Mortgage Loan Trust 2005-1, Asset-Backed Certs., Series 2005-1 – ‘10-K’ for 3/29/06 – EX-99.2

On:  Thursday, 3/30/06, at 10:27am ET   ·   For:  3/29/06   ·   Accession #:  1020242-6-378   ·   File #:  333-109318-06

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                          9±    41K 
 4: EX-31       Sox                                                    1      7K 
 3: EX-99.1     Asoc                                                   1      6K 
 2: EX-99.2     Usap                                                   4     19K 

EX-99.2   —   Usap

EX-99.2
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Exhibit 99.2                                                                    

[Deloite LOGO]                                                                  
--------------------------------------------------------------------------------
                                                 Deloitte & Touche LLP
                                      Suite 3300
                                             925 Fourth Avenue
                                                  Seattle, WA 98104-1126
                               USA
                                                 Tele: +1 206 716 7000
                                            www.deloitte.com

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM                         

To the Board of Directors of                                                    
Washington Mutual Inc. and Subsidiaries                                         

We have examined management's assertion that Washington Mutual Inc. and         
Subsidiaries (the "Company") has complied as of and for the year ended December 
31, 2005, with its established minimum servicing standards described in the     
accompanying Management's Assertion, dated March 10, 2006. Management is        
responsible for the Company's compliance with those minimum servicing standards.
Our responsibility is to express an opinion on management's assertion about the 
Company's compliance based on our examination.                                  

Our examination was conducted in accordance with attestation standards          
established by the American Institute of Certified Public Accountants, as       
adopted by the Public Company Accounting Oversight Board, and, accordingly,     
included examining, on a test basis, evidence about the Company's compliance    
with its minimum servicing standards and performing such other procedures as we 
considered necessary in the circumstances. We believe that our examination      
provides a reasonable basis for our opinion. Our examination does not provide a 
legal determination on the Company's compliance with its minimum servicing      
standards.                                                                      

In our opinion, management's assertion that the Company complied, with the      
aforementioned minimum servicing standards as of and for the year ended December
31, 2005, is fairly stated, in all material respects based on the criteria set  
forth in Appendix I.                                                            

/s/ Deloitte & Touche                                                           

March 10, 2006                                                                  

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                                                     [Washinton Mutual LOGO]
MANAGEMENT'S ASSERTION                                                          

As of and for the year ended December 31, 2005, Washington Mutual Inc. and      
Subsidiaries (the "Company") has complied, in all material respects, with the   
Company's established minimum servicing standards for single family residential 
mortgages as set forth in Appendix I (the "Standards"). The Standards are based 
on the Mortgage Bankers Association of America's Uniform Single Attestation     
Program for Mortgage Bankers.                                                   

As of and for this same period, the Company had in effect a fidelity bond in the
amount of $110 million, and errors and omissions policy in the amount of $20    
million.                                                                        

/s/ Steve Rotella                                                               
-------------------------------------                                           
Steve Rotella                                                                   
President and Chief Operating Officer                                           

/s/ David Schneider                                                             
-------------------------------------                                           
David Schneider                                                                 
Executive Vice President                                                        
Home Loans                                                                      

/s/ John Berens                                                                 
-------------------------------------                                           
John Berens                                                                     
Senior Vice President                                                           
Home Loans - Loan Servicing                                                     

March 10, 2006                                                                  

                                                       1201 3rd Avenue
                                                         Seattle, WA 98101

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                                                       [Washinton Mutual LOGO]

WASHINGTON MUTUAL, INC. AND SUBSIDIARIES                                        

APPENDIX I: MINIMUM SERVICING STANDARDS FOR SINGLE FAMILY RESIDENTIAL MORTGAGES 
AS SET FORTH IN THE MORTGAGE BANKERS ASSOCIATION OF AMERICA'S UNIFORM SINGLE    
ATTESTATION PROGRAM FOR MORTGAGE BANKERS                                        
--------------------------------------------------------------------------------

I.    CUSTODIAL BANK ACCOUNTS                                                   

1.    Reconciliations shall be prepared on a monthly basis for all  
         custodial bank accounts and related bank clearing accounts. These
reconciliations shall:                                  

o     be mathematically accurate                        

        o     be prepared within forty-five (45) calendar days after the
cutoff date                                 

           o     be reviewed and approved by someone other than the person who
prepared the reconciliation                 

            o     document explanations for reconciling items. These reconciling
               items shall be resolved within ninety (90) calendar days of
their original identification.              

      2.    Funds of the servicing entity shall be advanced in cases where there
  is an overdraft in an investor's or a mortgagor's account.

   3.    Each custodial account shall be maintained at a federally insured
    depository institution in trust for the applicable investor.

     4.    Escrow funds held in trust for a mortgagor shall be returned to the
            mortgagor within thirty (30) calendar days of payoff of the mortgage
loan.                                                   

II.   MORTGAGE PAYMENTS                                                         

1.    Mortgage payments shall be deposited into the custodial bank  
            accounts and related bank clearing accounts within two business days
of receipt.                                             

2.    Mortgage payments made in accordance with the mortgagor's loan
            documents shall be posted to the applicable mortgagor records within
two business days of receipt.                           

3.    Mortgage payments shall be allocated to principal, interest,  
      insurance, taxes, or other escrow items in accordance with the
mortgagor's loan documents.                             

    4.    Mortgage payments identified as loan payoffs shall be allocated in
accordance with the mortgagor's loan documents.         

III.  DISBURSEMENTS                                                             

  1.    Disbursements made via wire transfer on behalf of a mortgagor or
investor shall be made only by authorized personnel.    

                                                       1201 3rd Avenue
                                                         Seattle, WA 98101
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                                                   [Washinton Mutual LOGO]

  2.    Disbursements made on behalf of a mortgagor or investor shall be
        posted within two business days to the mortgagor's or investor's
records maintained by the servicing entity.             

      3.    Tax and insurance payments shall be made on or before the penalty or
        insurance policy expiration dates, as indicated on tax bills and
           insurance premium notices, respectively, provided that such support
      has been received by the servicing entity at least thirty (30)
calendar days prior to these dates.                     

    4.    Any late payment penalties paid in conjunction with the payment of
       any tax bill or insurance premium notice shall be paid from the
         servicing entity's funds and not charged to the mortgagor, unless
      the late payment was due to the mortgagor's error or omission.

   5.    Amounts remitted to investors per the servicer's investor reports
       shall agree with cancelled checks, or other form of payment, or
custodial bank statements.                              

  6.    Unused checks shall be safeguarded so as to prevent unauthorized
access.                                                 

IV.   INVESTOR ACCOUNTING AND REPORTING                                         

1.    The servicing entity's investor reports shall agree with, or  
           reconcile to, investors' records on a monthly basis as to the total
    unpaid principal balance and number of loans serviced by the
servicing entity.                                       

V.    MORTGAGOR LOAN ACCOUNTING                                                 

   1.    The servicing entity's mortgage loan records shall agree with, or
          reconcile to, the records of mortgagors with respect to the unpaid
principal balance on a monthly basis.                   

 2.    Adjustments on ARM loans shall be computed based on the related
mortgage note and any ARM rider.                        

3.    Escrow accounts shall be analyzed, in accordance with the     
mortgagor's loan documents, on at least an annual basis.

4.    Interest on escrow accounts shall be paid, or credited, to    
mortgagors in accordance with the applicable state laws.

VI.   DELINQUENCIES                                                             

   1.    Records documenting collection efforts shall be maintained during
     the period a loan is in default and shall be updated at least
       monthly. Such records shall describe the entity's activities in
         monitoring delinquent loans, including, for example, phone calls,
           letters, and mortgage payment rescheduling plans in cases where the
        delinquency is deemed temporary (e.g., illness or unemployment).

VII.  INSURANCE POLICIES                                                        

    1.    A fidelity bond and errors and omissions policy shall be in effect
      on the servicing entity throughout the reporting period in the
   amount of coverage represented to investors in management's
assertion.                                              

                                                       1201 3rd Avenue
                                                         Seattle, WA 98101

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Dates Referenced Herein

				Referenced-On Page
This ‘10-K’ Filing		Date		First		Last			Other Filings
Filed on:		3/30/06							None on these Dates
For Period End:		3/29/06
		3/10/06		1		2
		12/31/05		1		2
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