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

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

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

           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:		3/30/06		None 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
				List all Filings