NAAC Alternative Loan Trust, Series 2005-WF1 – ‘10-K’ for 12/31/05

On:  Thursday, 3/23/06, at 3:55pm ET   ·   For:  12/31/05   ·   Accession #:  1056404-6-1152   ·   File #:  333-109614-11

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                          9±    40K 

Document Table of Contents

           UNITED STATES
            SECURITIES AND EXCHANGE COMMISSION
            WASHINGTON, D.C. 20549

             FORM 10-K

(Mark one)                                                                  

/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES         
EXCHANGE ACT OF 1934                                                
For the fiscal year ended December 31, 2005                         

OR                                                                  

/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES     
EXCHANGE ACT OF 1934                                                

Commission File Number:  333-109614-11                              

Nomura Asset Acceptance Corporation                             
Mortgage Pass-Through Certificates                              
Series 2005-WF1                                                 

(Exact name of registrant as specified in its charter)                

New York                                          54-2175577                
(State or other jurisdiction of                   54-2175578                
incorporation or organization)                    (I.R.S. Employer          
                                           Identification No.)

c/o Wells Fargo Bank, N.A.                                                
9062 Old Annapolis Road                                                   
Columbia, MD                                21045                         
(Address of principal executive offices)    (Zip Code)                      

Registrant's telephone number, including area code: (410) 884-2000          

Securities registered pursuant to Section 12(b) of the Act:                 

NONE.                                                           

Securities registered pursuant to Section 12(g) of the Act:                 

NONE.                                                           

Indicate by check mark if the registrant is a well-known seasoned issuer,   
as defined in Rule 405 of the Securities Act.                               

Yes  ___     No  X                                              

Indicate by check mark if the registrant is not required to file reports    
pursuant to Section 13 or Section 15(d) of the Act.                         

Yes  ___     No  X                                              

Indicate by check mark whether the registrant (1) has filed all reports     
required to be filed by Section 13 or 15(d) of the Securities Exchange      
Act of 1934 during the preceding 12 months (or for such shorter period      
that the registrant was required to file such reports), and (2) has been    
subject to such filing requirements for the past 90 days.                   

Yes  X       No  ___                                            

Indicate by check mark if disclosure of delinquent filers pursuant to       
Item 405 of Regulation S-K ( 229.405 of this chapter) is not contained      
herein, and will not be contained, to the best of registrant's knowledge,   
in definitive proxy or information statements incorporated by reference     
in Part III of this Form 10-K or any amendment to this Form 10-K.           

Not applicable.                                                 

Indicate by check mark whether the registrant is a large accelerated filer, 
an accelerated filer, or a non-accelerated filer. See Definition of         
"accelerated filer and large accelerated filer" in Rule 12b-2 of the        
Exchange Act. (Check One):                                                  

Large Accelerated Filer ___  Accelerated Filer ___  Non-Accelerated Filer X 

Indicate by check mark whether the registrant is a shell company (as        
defined in Rule 12b-2 of the Act).                                          

Yes  ___     No  X                                              

State the aggregate market value of the voting and non-voting common        
equity held by non-affiliates computed by reference to the price at which   
the common equity was last sold, or the average bid and asked price of      
such common equity, as of the last business day of the registrant's most    
recently completed second fiscal quarter.                                   

Not applicable.                                                 

Documents Incorporated by Reference                                   

List hereunder the following documents if incorporated by reference and     
the Part of the Form 10-K (e.g. Part I, Part II, etc.) into which the       
document is incorporated: (1)Any annual report to security holders; (2)     
Any proxy or information statement; and (3)Any prospectus filed pursuant    
to Rule 424(b) or (c) under the Securities Act of 1933. The listed          
documents should be clearly described for identification purposes (e.g.     
annual report to security holders for fiscal year ended December 24, 1980). 

Not applicable.                                                 

PART I    
Item 1.  Business.                                                          

Not applicable.                                         

Item 1A.  Risk Factors.                                                     

Not applicable.                                         

Item 1B.  Unresolved Staff Comments.                                        

Not applicable.                                         

Item 2.  Properties.                                                        

Not applicable.                                         

Item 3.  Legal Proceedings.                                                 

     The registrant knows of no material pending legal proceedings
   involving the trust created under the Pooling and Servicing
Agreement (the Trust), the Trustee, the Servicer or the 
registrant with respect to the Trust other than routine 
      litigation incidental to the duties of the respective parties.

Item 4.  Submission of Matters to a Vote of Security Holders.               

None.                                                   

PART II         

Item 5.  Market for Registrant's Common Equity, Related Stockholder         
Matters and Issuer Purchases of Equity Securities.        

         No established public trading market for the Certificates exists.

Records provided to the Trust by the DTC and the Trustee
          indicate that as of December 31, 2005, the total number of holders
of record for the Series of Certificates is 34.         

Item 6.  Selected Financial Data.                                           

Not applicable.                                         

Item 7.  Management's Discussion and Analysis of Financial Condition and    
Results of Operation.                                     

Not applicable.                                         

Item 7A. Quantitative and Qualitative Disclosures about Market Risk.        

Not applicable.                                         

Item 8.  Financial Statements and Supplementary Data.                       

Not applicable.                                         

Item 9.  Changes in and Disagreements with Accountants on Accounting and    
Financial Disclosure.                                     

None.                                                   

Item 9A. Controls and Procedures.                                           
Not applicable.                                         

Item 9B. Other Information.                                                 

None.                                                   

PART III        

Item 10. Directors and Executive Officers of the Registrant.                

Not applicable.                                         

Item 11. Executive Compensation.                                            

Not applicable.                                         

Item 12. Security Ownership of Certain Beneficial Owners and Management     
and Related Stockholder Matters.                          

Not applicable.                                         

Item 13. Certain Relationships and Related Transactions.                    

Not applicable.                                         

Item 14. Principal Accounting Fees and Services.                            

Not applicable.                                         

PART IV         

Item 15. Exhibits, Financial Statement Schedules.                           

(a) Exhibits                                                              

(31.1) Rule 13a-14(a)/15d-14(a) Certification                         

(99.1) Annual Independent Accountants' Servicing Reports concerning   
servicing activities.                                   

                                                                      [Download Table]
                                           

                                           
a) Wells Fargo Bank, N.A., as Servicer <F1>

                                                                          
(99.2) Report of Management as to Compliance with Minimum Servicing   
Standards.                                              

                                                                      [Download Table]
                                           

                                           
a) Wells Fargo Bank, N.A., as Servicer <F1>

                                                                          
(99.3) Annual Statements of Compliance under the Pooling and Servicing
Agreements.                                             

                                                                      [Download Table]
                                           

                                           
a) Wells Fargo Bank, N.A., as Servicer <F1>

                                                                          
(99.4) Aggregate Statement of Principal and Interest Distributions to 
Certificate Holders.                                    

 (99.5) Reliance Certifications Mandated under the Pooling and Servicing
Agreement for the year ended December 31, 2005          

                                                                      [Download Table]
                                           

                                           
a) Wells Fargo Bank, N.A., as Servicer <F2>

                                                                          
(b) Not applicable.                                                       

(c) Omitted.                                                              

<F1> Filed herewith.                                                        

<F2> Certification has been received.                                       

SIGNATURES      

Pursuant to the requirements of Section 13 or 15(d) of the Securities       
Exchange Act of 1934, the registrant has duly caused this report to be      
signed on its behalf by the undersigned, thereunto duly authorized:         

Nomura Asset Acceptance Corporation                                     
Mortgage Pass-Through Certificates                                      
Series 2005-WF1                                                         
(Registrant)                                                            

Signed: Wells Fargo Bank, N.A. as Master Servicer                           

By:     Kristen Ann Cronin, Vice President                                  

By: /s/ Kristen Ann Cronin, Vice President                                  

Dated: March 23, 2006                                                       

Exhibit Index                                                               

Exhibit No.                                                                 

Ex-31.1 Rule 13a-14(a)/15d-14(a) Certification                              

I, Kristen Ann Cronin, certify that:                                        

1. I have reviewed this annual report on Form 10-K, and all reports on      
Form 8-K containing distribution or servicing reports filed in        
respect of periods included in the year covered by this annual report,
of Nomura Asset Acceptance Corporation Mortgage Pass-Through          
Certificates, Series 2005-WF1 Trust;                                  

2. Based on my knowledge, the information in these reports, taken as a      
whole, does not contain any untrue statement of a material fact or    
omit to state a material fact necessary to make the statements made,  
in light of the circumstances under which such statements were made,  
not misleading as of the last day of the period covered by this       
annual report;                                                        

3. Based on my knowledge, the distribution or servicing information         
required to be provided to the Trustee by the Servicer under the      
Pooling and Servicing or similar, agreement, for inclusion in these   
reports is included in these reports;                                 

4. I am responsible for reviewing the activities performed by the master    
servicer under the pooling and servicing, or similar, agreement, and  
based on upon my knowledge and the annual compliance review required  
under that agreement, and except as disclosed in the reports, the     
master servicer has fulfilled its obligations under that agreement;   
and                                                                   

5. The reports disclose all significant deficiencies relating to the        
servicer's compliance with the minimum servicing standards based upon 
the report provided by an independent public accountant, after        
conducting a review in compliance with the Uniform Single Attestation 
Program for Mortgage Bankers or similar procedure, as set forth in    
the pooling and servicing, or similar, agreement, that is included in 
these reports.                                                        

Date: March 23, 2006                                                  

/s/ Kristen Ann Cronin                                                
Signature                                                             

Vice President                                                        
Title                                                                 

EX-99.1                                                                     
(logo) KPMG                                                                     

KPMG LLP                                                                        
2500 Ruan Center                                                                
666 Grand Avenue                                                                
Des Moines, IA 50309                                                            

Independent Accountants' Report                                                 

The Board of Directors                                                          
Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A.:                

We have examined management's assertion, included in the accompanying Assertion 
of Management of Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A.
(the Company), that the Company complied with the minimum servicing standards   
set forth in the Mortgage Bankers Association of America's Uniform Single       
Attestation Program for Mortgage Bankers (USAP) as of and for the year ended    
December 31, 2005. 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 and,      
accordingly, included examining, on a test basis, evidence about the Company's  
compliance with the minimum servicing standards specified above 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 the 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.                            

/s/ KPMG LLP                                                                    

February 21, 2006                                                               

KPMG LLP a U.S. limited liability partnership, is the U.S.                      
member firm of KPMG International, a Swiss cooperative                          

EX-99.2                                                                     
(logo) WELLS  HOME                                                              
FARGO  MORTGAGE                                                   

1 Home Campus                                                                   
Des Moines, IA 50328                                                            

Assertion of Management of Wells Fargo Home Mortgage, a division of Wells Fargo 
Bank, N.A.                                                                      

As of and for the year ended December 31, 2005, Wells Fargo Home Mortgage, a    
division of Wells Fargo Bank, N.A. (the Company) has complied in all material   
respects with the minimum servicing standards set forth in 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 along 
with an errors and omissions policy in the amounts of $100 million and $20      
million, respectively.                                                          

/s/ Michael J. Heid                 February 21, 2006                           
Michael J. Heid, Division President, Capital Markets, Finance, & Administration 
Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A.                 

/s/ Franklin R. Codel               February 21, 2006                           
Franklin R. Codel, Executive Vice President, Finance and Corporate Real Estate  
Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A.                 

/s/ Mary Coffin                     February 21, 2006                           
Mary Coffin, Executive Vice President, Servicing & Post Closing                 
Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A.                 

/s/ Cara K. Heiden                                                              
Cara K. Heiden, division President, Nat'l Consumer & Institutional Lending      
Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A.                 

Wells Fargo Home Mortgage                                                       
is a division of Wells Fargo Bank, N.A.                                         

EX-99.3                                                                     
(logo) WELLS  HOME                                                              
FARGO  MORTGAGE                                                   

Wells Fargo Home Mortgage                                                       
One Home Campus                                                                 
Des Moines, IA 50328-0001                                                       

February 24, 2006                                                               

Re: 2005 Annual Certification                                                   

We hereby certify to the best of our knowledge and belief that for the calendar 
year of 2005:                                                                   

  1. All real estate taxes, bonds assessments and other lienable items have been
paid.                                                                       

 2. All FHA mortgage insurance, private mortgage insurance premiums, and flood
insurance have been paid (if applicable).                                   

 3. Hazard insurance policies held by us meet the requirements as specified in
  the servicing agreement, or those of a normal prudent lender if not specified,
and those premiums due have been paid.                                      

4. We have made all property inspections as required.                       

  5. Fidelity bond and Errors and Omissions insurance coverage currently exists.

6. That the Officer signing this certificate has reviewed the activities and
performance of the Servicer during the preceding fiscal year under the terms
of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement
and/or Seller/Servicer Guide or similar agreements and to the best of this  
officer's knowledge, the Servicer has fulfilled all of its duties,          
responsibilities or obligations of such agreement throughout the year, or if
there has been a default or failure of the servicer to perform any of such  
duties, responsibilities or obligations, a description of each default or   
failure and the nature and status thereof has been reported.                

Sincerely,                                                                      

/s/ John B. Brown                                                               
John B. Brown                                                                   
Senior Vice President                                                           
Wells Fargo Home Mortgage                                                       

Wells Fargo Home Mortgage                                                       
is a division of Wells Fargo Bank, N.A.                                         

Ex-99.4                                                                     

Schedule of Year-To-Date Principal and Interest Distributions to          
Certificateholders                                                        

                                                                   [Download Table]
                                                            

Class        Interest      Principal  Losses  Ending Balance
                                                            
I-A      6,325,441.25  15,655,052.22    0.00  164,367,947.79
II-A-1A  1,095,457.47  17,427,088.67    0.00   39,103,911.33
II-A-1B  1,457,256.99  23,120,617.89    0.00   51,879,382.11
II-A-2   1,861,734.07           0.00    0.00   66,685,000.00
II-A-3     612,046.75           0.00    0.00   20,573,000.00
II-A-4     830,001.20           0.00    0.00   25,440,000.00
II-A-5     877,606.10           0.00    0.00   29,162,000.00
M-1        384,886.74           0.00    0.00   12,091,000.00
M-2        324,730.70           0.00    0.00    9,673,000.00
M-3        245,420.00           0.00    0.00    7,012,000.00
P          731,782.34           0.00    0.00          100.00
R1               0.00           0.00    0.00            0.00
X        1,530,755.33           0.00    0.00  429,372,733.22
                                                                             

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing		Date		Other Filings
Filed on:		3/23/06		None on these Dates
		2/24/06
		2/21/06
For Period End:		12/31/05
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