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Securitized Asset Backed Receivables LLC Trust 2005-FR4 – ‘10-K’ for 12/31/05

On:  Thursday, 3/30/06, at 5:20pm ET   ·   For:  12/31/05   ·   Accession #:  1056404-6-1566   ·   File #:  333-123990-01

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 3/30/06  Securitized Asset Backe..2005-FR4 10-K       12/31/05    1:16K                                    Norwest Asset SEC Co..Tr

Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         10±    41K 


Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
"Item 1A. Risk Factors
"Item 1B. Unresolved Staff Comments
"Item 2. Properties
"Item 3. Legal Proceedings
"Item 4. Submission of Matters to a Vote of Security Holders
"Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
"Item 6. Selected Financial Data
"Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation
"Item 7A. Quantitative and Qualitative Disclosures about Market Risk
"Item 8. Financial Statements and Supplementary Data
"Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
"Item 9A. Controls and Procedures
"Item 9B. Other Information
"Item 10. Directors and Executive Officers of the Registrant
"Item 11. Executive Compensation
"Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
"Item 13. Certain Relationships and Related Transactions
"Item 14. Principal Accounting Fees and Services
"Item 15. Exhibits, Financial Statement Schedules


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: 333-123990-01 Securitized Asset Backed Receivables LLC (as Depositor under the Pooling and Servicing Agreement, dated as of September 1, 2005, providing for the issuance of Securitized Asset Backed Receivables LLC Trust 2005-FR4 Mortgage Pass-Through Certificates, Series 2005-FR4) (Exact name of registrant as specified in its charter) Delaware 37-1472598 (State or other jurisdiction of (I.R.S Employer incorporation or organization) Identification No.) 200 Park Avenue New York, NY 10166 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 412-4000 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 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. X 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 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. Currently, there is no established public trading market for the Certificates known to the registrant. Records provided by The Depository Trust Company and the Trustee indicate that as of December 31, 2005, the total number of holders of record for the Series of Certificates is 37. 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) The following is a list of documents filed as part of this Annual Report on Form 10-K: (31.1) Rule 13a-14(a)/15d-14(a) Certification (99.1) Annual Independent Accountants' Report concerning servicing activities. [Download Table] a) Countrywide Home Loans Servicing LP, as Servicer <F1> (99.2) Report of Management as to Compliance with Minimum Servicing Standards. [Download Table] a) Countrywide Home Loans Servicing LP, as Servicer <F1> (99.3) Annual Statement of Compliance under the Pooling and Servicing Agreement. [Download Table] a) Countrywide Home Loans Servicing LP, as Servicer <F1> (99.4) Aggregate Statement of Principal and Interest Distributions to Certificateholders. (b) The exhibits required to be filed by Registrant pursuant to Item 601 of Regulation S-K are listed above and in the Exhibit Index that immediately follows the signature page thereof. (c) Not applicable. <F1> Filed herewith. 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: Securitized Asset Backed Recievables LLC, as Depositor By: /s/ Paul Menefee Name: Paul Menefee, Chief Accounting Officer Title: Chief Accounting Officer Dated: March 30, 2006 SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT. (a)(1) No annual report is provided to the Certificateholders other than with respect to aggregate principal and interest distributions. (a)(2) No proxy statement, form of proxy or other proxy soliciting material has been sent to any Certificateholder with respect to any annual or other meeting of Certificateholders. Exhibit Index (31.1) Rule 13a-14(a)/15d-14(a) Certification (99.1) Annual Independent Accountants' Report concerning servicing activities. [Download Table] a) Countrywide Home Loans Servicing LP, as Servicer <F1> (99.2) Report of Management as to Compliance with Minimum Servicing Standards. [Download Table] a) Countrywide Home Loans Servicing LP, as Servicer <F1> (99.3) Annual Statement of Compliance under the Pooling and Servicing Agreement. [Download Table] a) Countrywide Home Loans Servicing LP, as Servicer <F1> (99.4) Aggregate Statement of Principal and Interest Distributions to Certificateholders. Exhibit No. Ex-31.1 Rule 13a-14(a)/15d-14(a) Certification Re: Securitized Asset Backed Receivables LLC Trust 2005-FR4 (the "Trust"), Mortgage Pass-Through Certificates, Series 2005-FR4, issued pursuant to the Pooling and Servicing Agreement, dated as September 1, 2005 (the "Pooling and Servicing Agreement"), by and among Securitized Asset Backed Receivables LLC, as depositor, Wells Fargo Bank, National Association, as trustee (the "Trustee"), Countrywide Home Loans Servicing LP, as servicer (the "Servicer"), MortgageRamp, LLC, as loan performance advisor, and Fremont Investment & Loan, as responsible party I, Paul Menefee, certify that: 1. I have reviewed this annual report on Form 10-K (the "Annual Report"), and all reports on Form 8-K containing distribution reports (collectively with this Annual Report, the "Reports") filed in respect of periods included in the year covered by this Annual Report, of the Trust; 2. Based on my knowledge, the information in the 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 Agreement, for inclusion in the Reports is included in the Reports; 4. Based on my knowledge and upon the annual compliance statement included in this Annual Report and required to be delivered to the Trustee in accordance with the terms of the Pooling and Servicing Agreement, and except as disclosed in the Reports, the Servicer has fulfilled its obligations under the Pooling and Servicing 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 Agreement, that is included in such report. In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties: the Trustee and the Servicer. Date: March 24, 2006 /s/ Paul Menefee Paul Menefee Chief Accounting Officer EX-99.1 (logo)KPMG KPMG LLP Suite 2000 355 South Grand Avenue Los Angeles, CA 90071-1568 Telephone 213 972 4000 Fax 213 622 1217 Internet www.us.kpmg.com Independent Accountants' Report The Board of Directors Countrywide Financial Corporation: We have examined management's assertion, included in the accompanying Management Assertion, that Countrywide Financial Corporation and subsidiaries, including its wholly-owned subsidiary, Countrywide Home Loans, Inc. ("CHL"), and Countrywide Home Loans Servicing, L.P., a wholly-owned subsidiary of CHL, (collectively, 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 Countrywide Financial Corporation and subsidiaries, including its wholly-owned subsidiary, Countrywide Home Loans, Inc. ("CHL"), and Countrywide Home Loans Servicing, L.P., a wholly-owned subsidiary of CHL, 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 March 3, 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) Countrywide HOME LOANS 2900 MADERA ROAD SIMI VALLEY, CALIFORNIA 93065-6298 (805) 955-1000 Management Assertion March 3, 2006 As of and for the year ended December 31, 2005, Countrywide Financial Corporation and subsidiaries, including its wholly-owned subsidiary, Countrywide Home Loans, Inc. ("CHL"), and Countrywide Home Loans Servicing, L.P., a wholly-owned subsidiary of CHL, (collectively, the "Company") have complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation for Mortgage Bankers. As of and for this same period, the Company had in effect a mortgage bankers' (fidelity) bond in the amount of $200 million and an errors and omissions policy in the amount of $100 million and $130 million for the period January 1, 2005 to August 1, 2005 and for the period from August 1, 2005 to December 31, 2005, respectively. /s/ Steve Bailey Steve Bailey Senior Managing Director and Chief Executive Officer, Loan Administration /s/ Kevin Meyers Kevin Meyers Managing Director and Chief Financial Officer, Loan Administration EX-99.3 (logo) Countrywide HOME LOANS 400 Countrywide Way Simi Valley, California 93065-6298 March 10, 2006 Cadwalader, Wickersham, and Taft, LLP Re: SABR 2005-FR3, SABR 2005-FR4, SABR 2005-FR5, SABR-HE1, SABR-EC1 One World Financial Center, 35th Floor New York, NY 10281 Attn: Kathryn Kennedy OFFICER'S CERTIFICATE I, Joseph Candelario, hereby certify that I am the First Vice President, Loan Administration of Countrywide Home Loans Servicing LP (the "Servicer"). I further certify, with respect to the Pooling and Servicing Agreements for the above-referenced transactions (collectively, the "Agreements"), the following: I have reviewed the activities and performance of the Servicer during the fiscal year ended December 31, 2005 under the Agreements and, to the best of my knowledge, based on my review, the Servicer has fulfilled all of its duties, responsibilities or obligations under the Agreements throughout the fiscal year. /s/ Joseph Candelario Joseph Candelario First Vice President Compliance Officer Loan Administration March 10, 2006 Date Ex-99.4 Schedule of Year-To-Date Principal and Interest Distributions to Certificateholders [Download Table] Class Interest Principal Losses Ending Balance A-1A 3,886,233.78 56,088,769.00 0.00 331,151,230.99 A-1B 982,780.89 14,022,192.26 0.00 82,787,807.75 A-2A 1,227,286.50 27,653,431.41 0.00 102,447,568.59 A-2B 568,498.67 0.00 0.00 53,539,000.00 A-2C 426,649.63 0.00 0.00 39,266,000.00 A-3 1,022,237.35 22,006,775.93 0.00 87,042,224.07 B-1 240,247.89 0.00 0.00 18,670,000.00 B-2 180,047.49 0.00 0.00 13,728,000.00 B-3 210,956.29 0.00 0.00 14,827,000.00 B-4 221,792.05 0.00 0.00 13,728,000.00 M-1 1,048,150.35 0.00 0.00 93,901,000.00 M-2 825,080.04 0.00 0.00 71,387,000.00 M-3 204,397.74 0.00 0.00 17,572,000.00 P 1,959,411.24 0.00 0.00 978,485,850.55 R 0.00 0.00 0.00 978,485,850.55 X 6,209,488.07 0.00 0.00 38,439,019.15

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/30/06None on these Dates
3/24/06
3/10/06
3/3/06
For Period End:12/31/05
9/1/05
8/1/05
1/1/05
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