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Long Beach Mortgage Loan Trust 2005-1, Asset-Backed Certs., Series 2005-1 · 10-K · For 3/29/06

Filed On 3/30/06, 10:27am ET   ·   Accession Number 1020242-6-378   ·   SEC File 333-109318-06

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

 3/30/06  Long Beach Mtge Loan Tr 2..2005-1 10-K        3/29/06    4:25K                                    Deutsche Bank Nat'l...Co

Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                          9±    40K 
 4: EX-31       Sox                                                    1      6K 
 3: EX-99.1     Asoc                                                   1      6K 
 2: EX-99.2     Usap                                                   4     18K 


10-K   —   Annual Report
Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
"Item 1. Business
"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 and 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 Operations
"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 Registrant
"Item 11. Executive Compensation
"Item 12. Security Ownership of Certain Beneficial Owners and Management
"Item 13. Certain Relationships and Related Transactions
"Item 14. Principal Accountant Fees and Services
"Item 15. Exhibits, Financial Statement Schedules


UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2005 Commission file number: 333-109318-06 Long Beach Securities Corp. (as Depositor under the Pooling and Servicing Agreement, dated as January 1, 2005, providing for the issuance of Asset-Backed Certificates, Series 2005-1) (Exact name of Registrant as specified in its Charter) Delaware 33-0917586 (State or other jurisdiction (I.R.S. Employer incorporation or organization) Identification Number) 1400 South Douglass Road, Suite 100 Anaheim, California 92806 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (714) 939-5200 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[ ] (as such reporting obligations are modified as set forth in J.P. Morgan Mortgage Pass-Through Corporation, SEC No-Action Letter, March 31, 1989, in reliance upon which the registrant is filing this modified report). Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of the Form 10-K or any amendment to this Form 10-K. [x] Indicate by check mark whether the registrant is an accelerated filer (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 of the last business day of the registrant's most recently completed second fiscal quarter Not Applicable. Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of December 31, 2005. Not Applicable. DOCUMENTS INCORPORATED BY REFERENCE The registrant's Reports on Form 8-K concerning the registrant's LONG BEACH MORTGAGE LOAN TRUST 2005-1, ASSET-BACKED CERTIFICATES, SERIES 2005-1, issued pursuant to the Pooling and Servicing Agreement dated as of January 1, 2005 (the "Pooling Agreement") and registered pursuant to a registration statement on form S-3 (File No. 333-109318) (such asset-backed certificates, the "Certificates"), are incorporated by reference as set forth in Part IV, Item 15. Capitalized terms used herein but not otherwise defined shall have the meanings assigned to them in the Pooling Agreement. 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. There are no material pending legal proceedings with respect to the assets of the Trust involving the registrant or, to the best knowledge of the registrant, the Trustee, any Custodian, any Servicer or the assets of the Trust, other than ordinary routine litigation with respect to the underlying mortgage loans comprising the assets of the Trust.  ITEM 4. Submission of Matters to a Vote of Security Holders. No matters were submitted to a vote of Certificateholders during the fiscal year covered by this report. PART II  ITEM 5. Market for Registrant's Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities (a) To the knowledge of the registrant, there exists no established public trading market for the securities. (b) The Certificates are represented by one or more certificates registered in the name Cede & Co., as nominee of the Depository Trust Company ("DTC") and are held in book-entry form only. The registrant considers Cede & Co. to be the sole holder of record of the Certificates. (c) Not Applicable.  ITEM 6. Selected Financial Data. Not Applicable.  ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. 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 Registrant. Not Applicable.  ITEM 11. Executive Compensation. Not Applicable.  ITEM 12. Security Ownership of Certain Beneficial Owners and Management. Security ownership of certain beneficial owners. Under the Pooling and Servicing Agreement governing the Trust, the holders of the Certificates generally do not have the right to vote and are prohibited from taking part in management of the Trust. For purposes of this Item and Item 13 only, however, the Certificateholders are treated as "voting security" holders. As of December 31, 2005, the following are the only persons known to the Registrant to be the beneficial owners of more than 5% of any class of voting securities: CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS I-A1 $1,912,475,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS II-A1 $528,000,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS II-A2 $215,000,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS II-A3 $151,526,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS M-1 $159,250,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS M-2 $99,750,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS M-3 $61,250,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS M-4 $61,250,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS M-5 $43,750,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS M-6 $42,000,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS M-7 $35,000,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS M-8 $35,000,000 100.0% CEDEFAST CEDE & CO FAST P.O. BOX 20 BOWLING GREEN STATION NEW YORK, NEW YORK, 10274 SERIES 2005-1 CLASS M-9 $35,000,000 100.0%  ITEM 13. Certain Relationships and Related Transactions. Not Applicable.  ITEM 14. Principal Accountant Fees and Services. Not Applicable. PART IV  ITEM 15. Exhibits, Financial Statement Schedules. (a) List the following documents filed as a part of the report: (1) All financial statements: Not Applicable. (2) Those financial statements schedules required to be filed by Item 8 of this form, and by paragraph (c) below. Not Applicable. (3) Those exhibits required by Item 601 of Regulation S-K (229.601 of this chapter) and by paragraph (b) below. Identify in the list each management contract or compensatory plan or arrangement required to be filed as an exhibit to this form pursuant to Item 15 (b) of this report. Not Applicable. (b) Registrants shall file, as exhibits to this form, the exhibits required by Item 601 of Regulation S-K (229.601 of this chapter). (1) Exhibit 31 Section 302 Certification. (2) Exhibit 99.1 Servicer's Annual Statement of Compliance for Year End December 31, 2005. (3) Exhibit 99.2 Report of Independent Registered Public Accounting Firm for Year End December 31, 2005. (4) Reports on Form 8-K The registrant filed Current Reports on Form 8-K that described distributions made to Certificateholders on the Distribution Date occurring in the month of, or the month preceding, the month in which such Current Report on Form 8-K was filed and also provided certain information regarding delinquent Mortgage Loans and credit enhancements as of such Distribution Date. Such Current Reports on Form 8-K are incorporated by reference herein, as follows: Monthly Remittance Statement to the Certificateholders dated as of February 25, 2005, and filed with the Securities and Exchange Commission on Form 8-K on March 03, 2005. Monthly Remittance Statement to the Certificateholders dated as of March 25, 2005, and filed with the Securities and Exchange Commission on Form 8-K on April 05, 2005. Monthly Remittance Statement to the Certificateholders dated as of April 25, 2005, and filed with the Securities and Exchange Commission on Form 8-K on May 09, 2005. Monthly Remittance Statement to the Certificateholders dated as of May 25, 2005, and filed with the Securities and Exchange Commission on Form 8-K on June 02, 2005. Monthly Remittance Statement to the Certificateholders dated as of June 27, 2005, and filed with the Securities and Exchange Commission on Form 8-K on July 01, 2005. Monthly Remittance Statement to the Certificateholders dated as of July 25, 2005, and filed with the Securities and Exchange Commission on Form 8-K on July 28, 2005. Monthly Remittance Statement to the Certificateholders dated as of August 25, 2005, and filed with the Securities and Exchange Commission on Form 8-K on August 29, 2005. Monthly Remittance Statement to the Certificateholders dated as of September 26, 2005, and filed with the Securities and Exchange Commission on Form 8-K on September 27, 2005. Monthly Remittance Statement to the Certificateholders dated as of October 25, 2005, and filed with the Securities and Exchange Commission on Form 8-K on October 28, 2005. Monthly Remittance Statement to the Certificateholders dated as of November 25, 2005, and filed with the Securities and Exchange Commission on Form 8-K on December 07, 2005. Monthly Remittance Statement to the Certificateholders dated as of December 27, 2005, and filed with the Securities and Exchange Commission on Form 8-K on January 04, 2006. (c) Registrants shall file, as financial statements schedules to this form, the financial statements required by Regulation S-X (17 CFR 210) which are excluded from the annual report to shareholders by Rule 14a-3(b) including (1) separate financial statements of subsidiaries not consolidated and fifty percent or less owned persons; (2) separate financial statements of affiliates whose securities are pledged as collateral; and (3) schedules. Omitted SIGNATURE 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. Long Beach Securities Corp. By: /s/ Michael J. Giampaolo Name: Michael J. Giampaolo Title: Executive Vice President Date: March 23, 2006 EXHIBIT INDEX Exhibit Document 31 Section 302 Certification. 99.1 Servicer's Annual Statement of Compliance for Year End December 31, 2005. 99.2 Report of Independent Registered Public Accounting Firm for Year End December 31, 2005.

Dates Referenced Herein   and   Documents Incorporated By Reference

This 10-K Filing   Date   Other Filings
1/1/05
2/25/058-K
3/3/058-K
3/25/058-K
4/5/058-K
4/25/058-K
5/9/058-K
5/25/058-K
6/2/058-K
6/27/058-K
7/1/058-K
7/25/058-K
7/28/058-K
8/25/058-K
8/29/058-K
9/26/058-K
9/27/058-K
10/25/058-K
10/28/058-K
11/25/058-K
12/7/058-K
12/27/058-K
12/31/05
1/4/068-K
3/23/06
For The Period Ended3/29/06
Filed On / Filed As Of3/30/06
 
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Filing Submission 0001020242-06-000378   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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