8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event

Reported):  August 31, 2005

J.P. MORGAN ACCEPTANCE CORPORATION I

J.P. MORGAN MORTGAGE TRUST 2005-S2

J.P. MORGAN ACCEPTANCE CORPORATION I
(Exact name of registrant as specified in its charter)
Delaware	333-127020	13-3475488
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
270 Park Avenue New York, New York  10017
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code (212) 834-3850

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[   ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ]	Pre-commencement communications pursuant to Rule 14d-2(d) under the Exchange Act (17 CFR 240.14d-2(b))
[   ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.

Other Events.

Filing of Computational Materials

Pursuant to Rule 424(b) under the Securities Act of 1933, concurrently with, or subsequent to, the filing of this Current Report on Form 8-K (the “Form 8-K”), J.P. Morgan Acceptance Corporation I  (the “Company”) is filing a prospectus and prospectus supplement with the Securities and Exchange Commission relating to its J.P. Morgan Acceptance Corporation I, J.P. Morgan Mortgage Trust 2005-S2.

Attached hereto as Exhibit 99.1 are the  “Computational Materials” (as defined in the no-action letter dated May 20, 1994 issued by the Division of Corporation Finance of the Securities and Exchange Commission (the “Commission”) to Kidder, Peabody Acceptance Corporation I, Kidder, Peabody & Co. Incorporated, and Kidder Structured Asset Corporation and the no-action letter made available May 27, 1994 issued by the Division of Corporation Finance of the Commission to the Public Securities Association) and/or “ABS Term Sheets” (as defined in the no-action letter made available February 17, 1995 issued by the Division of Corporation Finance of the Commission to the Public Securities Association).

In connection with the offering of the J.P. Morgan Acceptance Corporation I , J.P. Morgan Mortgage Trust 2005-S2, J.P. Morgan Securities Inc. (“J.P. Morgan Securities”), as underwriter of the Certificates, has prepared certain materials (the “Computational Materials”) for distribution to their potential investors.  Although the Company provided J.P. Morgan Securities with certain information regarding the characteristics of the Mortgage Loans in the related portfolio, the Company did not participate in the preparation of the Computational Materials.

Item 9.01.  Financial Statements and Events

         Information and Exhibits.

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

99.1

Computational Materials

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

J.P. MORGAN ACCEPTANCE CORPORATION I

By: /s/ Rosa Hyun

    Name:  Rosa Hyun

    Title:  Vice President

Dated:  August 31, 2005

Exhibit Index

Exhibit

99.1

Computational Materials

EX-99.1

jpm05s2_gr2 – 22D1

JPMorgan Securities, Inc.     Trading Desk - 212-834-2499     Marc Simpson212-834-

Balance	$12,724,800.00	Delay	24	WAC(5)	5.87800	WAM(5)	357
Coupon	5.50000	Dated	08/01/2005	NET(5)	5.50000	WALA(5)	2
Settle	08/31/2005	First Payment	09/25/2005

Price	100 PSA	200 PSA	300 PSA	400 PSA	500 PSA
	Yield	Yield	Yield	Yield	Yield
100-11	5.39431	5.31013	5.24215	5.18490	5.13496
100-12	5.38707	5.29929	5.22840	5.16870	5.11662
100-13	5.37983	5.28845	5.21465	5.15250	5.09829
100-14	5.37260	5.27762	5.20091	5.13631	5.07996
100-15	5.36537	5.26679	5.18717	5.12013	5.06165
100-16	5.35815	5.25596	5.17345	5.10395	5.04334
100-17	5.35093	5.24515	5.15972	5.08779	5.02504
100-18	5.34371	5.23433	5.14601	5.07163	5.00675
100-19	5.33649	5.22352	5.13230	5.05547	4.98847
100-20	5.32928	5.21272	5.11859	5.03933	4.97019
100-21	5.32208	5.20192	5.10489	5.02319	4.95193
100-22	5.31487	5.19112	5.09120	5.00706	4.93367
100-23	5.30767	5.18034	5.07752	4.99094	4.91543
100-24	5.30047	5.16955	5.06384	4.97482	4.89719
100-25	5.29328	5.15877	5.05016	4.95871	4.87896
100-26	5.28609	5.14800	5.03650	4.94261	4.86073
100-27	5.27890	5.13723	5.02284	4.92652	4.84252
Spread @ Center Price	119	111	105	99	95
WAL	5.239	3.257	2.500	2.092	1.832
Mod Durn	4.287	2.862	2.256	1.915	1.692
Mod Convexity	0.282	0.121	0.075	0.055	0.043
Principal Window	Sep05 - Nov16	Sep05 - Jan12	Sep05 - Mar10	Sep05 - Apr09	Sep05 - Oct08
LIBOR_1MO	3.52	3.52	3.52	3.52	3.52
Yield Curve Mat 6MO 2YR 3YR 5YR 10YR 30YR Yld 3.805 4.063 4.105 4.141 4.266 4.461

08/03/2005 11:25 AM

THE INFORMATION CONTAINED HEREIN IS QUALIFIED IN ITS ENTIRETY BY THE INFORMATION IN THE PROSPECTUS AND PROSPECTUS SUPPLEMENT FOR THIS TRANSACTION. THE INFORMATION CONTAINED HEREIN IS PRELIMINARY AS OF THE DATE HEREOF AND SUPERSEDES ANY PREVIOUS SUCH INFORMATION DELIVERED TO YOU. THESE MATERIALS ARE SUBJECT TO CHANGE, COMPLETION OR AMENDMENT FROM TIME TO TIME. THIS COMMUNICATION IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. THIS COMMUNIICATION DOES NOT CONTAIN ALL THE INFORMATION THAT IS REQUIRED TO BE INCLUDED IN THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT. INVESTORS ARE URGED TO READ THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISION BECAUSE THEY CONTAIN IMPORTANT INFORMATION. YOU SHOULD CONSULT YOUR OWN COUNSEL, ACCOUNTANT AND OTHER ADVISORS AS TO THE L EGAL, TAX, BUSINESS, FINANCIAL AND RELATED ASPECTS OF A PURCHASE OF THESE SECURITIES.

EX-99.1

jpm05s2_gr2 – 22D1

JPMorgan Securities, Inc.     Trading Desk - 212-834-2499     Marc Simpson212-834-

Balance	$12,724,800.00	Delay	24	WAC(5)	5.87800	WAM(5)	357
Coupon	5.50000	Dated	08/01/2005	NET(5)	5.50000	WALA(5)	2
Settle	08/31/2005	First Payment	09/25/2005

Price	6 CPR	12 CPR	16 CPR	20 CPR	25 CPR
	Yield	Yield	Yield	Yield	Yield
100-11	5.36528	5.22000	5.11919	5.01397	4.87588
100-12	5.35681	5.20531	5.10019	4.99047	4.84649
100-13	5.34833	5.19062	5.08120	4.96699	4.81711
100-14	5.33987	5.17595	5.06222	4.94352	4.78776
100-15	5.33140	5.16128	5.04325	4.92007	4.75842
100-16	5.32294	5.14662	5.02429	4.89663	4.72910
100-17	5.31449	5.13197	5.00534	4.87320	4.69979
100-18	5.30604	5.11732	4.98640	4.84978	4.67050
100-19	5.29759	5.10268	4.96747	4.82638	4.64123
100-20	5.28915	5.08805	4.94855	4.80299	4.61198
100-21	5.28071	5.07343	4.92965	4.77961	4.58274
100-22	5.27228	5.05882	4.91075	4.75625	4.55352
100-23	5.26385	5.04421	4.89186	4.73289	4.52432
100-24	5.25542	5.02961	4.87298	4.70956	4.49513
100-25	5.24700	5.01502	4.85412	4.68623	4.46597
100-26	5.23858	5.00044	4.83526	4.66292	4.43681
100-27	5.23017	4.98586	4.81641	4.63962	4.40768
Spread @ Center Price	117	102	94	86	72
WAL	4.399	2.354	1.781	1.420	1.122
Mod Durn	3.662	2.113	1.634	1.322	1.057
Mod Convexity	0.222	0.076	0.047	0.032	0.021
Principal Window	Sep05 - Dec15	Sep05 - Dec10	Sep05 - Aug09	Sep05 - Nov08	Sep05 - Feb08
LIBOR_1MO	3.52	3.52	3.52	3.52	3.52
Yield Curve Mat 6MO 2YR 3YR 5YR 10YR 30YR Yld 3.805 4.063 4.105 4.141 4.266 4.461

08/03/2005 11:25 AM

THE INFORMATION CONTAINED HEREIN IS QUALIFIED IN ITS ENTIRETY BY THE INFORMATION IN THE PROSPECTUS AND PROSPECTUS SUPPLEMENT FOR THIS TRANSACTION. THE INFORMATION CONTAINED HEREIN IS PRELIMINARY AS OF THE DATE HEREOF AND SUPERSEDES ANY PREVIOUS SUCH INFORMATION DELIVERED TO YOU. THESE MATERIALS ARE SUBJECT TO CHANGE, COMPLETION OR AMENDMENT FROM TIME TO TIME. THIS COMMUNICATION IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. THIS COMMUNIICATION DOES NOT CONTAIN ALL THE INFORMATION THAT IS REQUIRED TO BE INCLUDED IN THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT. INVESTORS ARE URGED TO READ THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISION BECAUSE THEY CONTAIN IMPORTANT INFORMATION. YOU SHOULD CONSULT YOUR OWN COUNSEL, ACCOUNTANT AND OTHER ADVISORS AS TO THE L EGAL, TAX, BUSINESS, FINANCIAL AND RELATED ASPECTS OF A PURCHASE OF THESE SECURITIES.

EX-99.1

jpm05s2_gr2 – 22D5

JPMorgan Securities, Inc.     Trading Desk - 212-834-2499     Marc Simpson212-834-

Balance	$28,498,800.00	Delay	24	WAC(5)	5.87800	WAM(5)	357
Coupon	5.50000	Dated	08/01/2005	NET(5)	5.50000	WALA(5)	2
Settle	08/31/2005	First Payment	09/25/2005

Price	100 PSA	200 PSA	300 PSA	400 PSA	500 PSA
	Yield	Yield	Yield	Yield	Yield
100-02 4/8	5.46671	5.41762	5.37665	5.34207	5.31166
100-03 4/8	5.46017	5.40776	5.36401	5.32709	5.29463
100-04 4/8	5.45363	5.39790	5.35138	5.31212	5.27760
100-05 4/8	5.44710	5.38805	5.33876	5.29716	5.26059
100-06 4/8	5.44056	5.37820	5.32614	5.28221	5.24358
100-07 4/8	5.43404	5.36835	5.31353	5.26726	5.22658
100-08 4/8	5.42751	5.35851	5.30092	5.25232	5.20959
100-09 4/8	5.42099	5.34868	5.28832	5.23738	5.19260
100-10 4/8	5.41447	5.33885	5.27572	5.22246	5.17563
100-11 4/8	5.40796	5.32902	5.26314	5.20754	5.15866
100-12 4/8	5.40144	5.31920	5.25055	5.19262	5.14170
100-13 4/8	5.39493	5.30938	5.23797	5.17772	5.12475
100-14 4/8	5.38843	5.29957	5.22540	5.16282	5.10780
100-15 4/8	5.38192	5.28976	5.21284	5.14792	5.09086
100-16 4/8	5.37542	5.27996	5.20028	5.13304	5.07393
100-17 4/8	5.36893	5.27016	5.18772	5.11816	5.05701
100-18 4/8	5.36243	5.26037	5.17517	5.10329	5.04010
Spread @ Center Price	112.5	112.3	109.0	106.8	104.1
WAL	5.990	3.649	2.758	2.289	1.992
Mod Durn	4.758	3.155	2.462	2.078	1.827
Mod Convexity	0.355	0.149	0.090	0.064	0.050
Principal Window	Sep05 - Dec18	Sep05 - Feb13	Sep05 - Nov10	Sep05 - Oct09	Sep05 - Feb09
LIBOR_1MO	3.52	3.52	3.52	3.52	3.52
Yield Curve Mat 6MO 2YR 3YR 5YR 10YR 30YR Yld 3.777 4.133 4.186 4.258 4.404 4.595

08/03/2005 11:25 AM

THE INFORMATION CONTAINED HEREIN IS QUALIFIED IN ITS ENTIRETY BY THE INFORMATION IN THE PROSPECTUS AND PROSPECTUS SUPPLEMENT FOR THIS TRANSACTION. THE INFORMATION CONTAINED HEREIN IS PRELIMINARY AS OF THE DATE HEREOF AND SUPERSEDES ANY PREVIOUS SUCH INFORMATION DELIVERED TO YOU. THESE MATERIALS ARE SUBJECT TO CHANGE, COMPLETION OR AMENDMENT FROM TIME TO TIME. THIS COMMUNICATION IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. THIS COMMUNIICATION DOES NOT CONTAIN ALL THE INFORMATION THAT IS REQUIRED TO BE INCLUDED IN THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT. INVESTORS ARE URGED TO READ THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISION BECAUSE THEY CONTAIN IMPORTANT INFORMATION. YOU SHOULD CONSULT YOUR OWN COUNSEL, ACCOUNTANT AND OTHER ADVISORS AS TO THE L EGAL, TAX, BUSINESS, FINANCIAL AND RELATED ASPECTS OF A PURCHASE OF THESE SECURITIES.

EX-99.1

jpm05s2_gr2 -- 22NS

JPMorgan Securities, Inc.     Trading Desk - 212-834-2499     Marc Simpson212-834-

Balance	$24,125,000.00	Delay	24	WAC(5)	5.87800	WAM(5)	357
Coupon	5.50000	Dated	08/01/2005	NET(5)	5.50000	WALA(5)	2
Settle	08/31/2005	First Payment	09/25/2005

Price	100 PSA	200 PSA	300 PSA	400 PSA	500 PSA
	Yield	Yield	Yield	Yield	Yield
98-28 5/8	5.63786	5.64819	5.65664	5.66371	5.67078
98-30 5/8	5.63140	5.64083	5.64855	5.65500	5.66146
99-00 5/8	5.62494	5.63348	5.64046	5.64631	5.65215
99-02 5/8	5.61849	5.62613	5.63238	5.63762	5.64285
99-04 5/8	5.61204	5.61879	5.62431	5.62893	5.63356
99-06 5/8	5.60560	5.61146	5.61625	5.62026	5.62427
99-08 5/8	5.59917	5.60413	5.60819	5.61159	5.61499
99-10 5/8	5.59274	5.59681	5.60014	5.60293	5.60572
99-12 5/8	5.58631	5.58950	5.59210	5.59428	5.59645
99-14 5/8	5.57990	5.58219	5.58406	5.58563	5.58720
99-16 5/8	5.57349	5.57489	5.57603	5.57699	5.57795
99-18 5/8	5.56708	5.56759	5.56801	5.56836	5.56871
99-20 5/8	5.56068	5.56030	5.55999	5.55973	5.55948
99-22 5/8	5.55429	5.55302	5.55199	5.55112	5.55025
99-24 5/8	5.54790	5.54575	5.54398	5.54251	5.54103
99-26 5/8	5.54152	5.53848	5.53599	5.53391	5.53182
99-28 5/8	5.53514	5.53122	5.52800	5.52531	5.52262
Spread @ Center Price	128.4	128.7	129.0	129.2	129.4
WAL	15.592	12.702	10.976	9.849	8.939
Mod Durn	9.750	8.561	7.785	7.236	6.759
Mod Convexity	1.397	1.045	0.838	0.705	0.601
Principal Window	Sep10 - May35	Sep10 - May35	Sep10 - May35	Sep10 - May35	Sep10 - May35
LIBOR_1MO	3.52	3.52	3.52	3.52	3.52
Yield Curve Mat 6MO 2YR 3YR 5YR 10YR 30YR Yld 3.721 4.019 4.061 4.130 4.302 4.511

08/03/2005 11:25 AM

THE INFORMATION CONTAINED HEREIN IS QUALIFIED IN ITS ENTIRETY BY THE INFORMATION IN THE PROSPECTUS AND PROSPECTUS SUPPLEMENT FOR THIS TRANSACTION. THE INFORMATION CONTAINED HEREIN IS PRELIMINARY AS OF THE DATE HEREOF AND SUPERSEDES ANY PREVIOUS SUCH INFORMATION DELIVERED TO YOU. THESE MATERIALS ARE SUBJECT TO CHANGE, COMPLETION OR AMENDMENT FROM TIME TO TIME. THIS COMMUNICATION IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. THIS COMMUNIICATION DOES NOT CONTAIN ALL THE INFORMATION THAT IS REQUIRED TO BE INCLUDED IN THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT. INVESTORS ARE URGED TO READ THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISION BECAUSE THEY CONTAIN IMPORTANT INFORMATION. YOU SHOULD CONSULT YOUR OWN COUNSEL, ACCOUNTANT AND OTHER ADVISORS AS TO THE L EGAL, TAX, BUSINESS, FINANCIAL AND RELATED ASPECTS OF A PURCHASE OF THESE SECURITIES.

EX-99.1

The information herein will be superseded in its entirety by the final prospectus and prospectus supplement relating to the securities. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR JPMORGAN SALES REPRESENTATIVE.
	Preliminary Structural and Collateral Term Sheet $1,290,000,000 (approximate) of Senior Certificates J.P. Morgan Mortgage Trust 2005-S2 Mortgage Pass-Through Certificates, Series 2005-S2							08/17/2005
Features of the Transaction		Preliminary Mortgage Pool(s) Data - 15 Year Prime (Group 1)
				Pool 1		Pool 1			Pool 1		Pool 1
- Offering consists of approximately [1,290mm] of Senior Certificates. expected to be rated AAA by at least 2 of the Rating Agencies; S&P, Moody's, Fitch, DBRS - The Amount of Senior Certificates is approximate and may vary. - Multiple groups of Mortgage Loans will collateralize the transaction. - There are approximately 4 Pools of Senior Certificates, Pools 1 & 4 consist of 3 SubGroups each which may vary, Pool 2 consists of 4 SubGroups - The Credit Support for the Senior Certificates of Pools 1, 2, & 3 is Cross-Collateralized with respect to losses. - The Credit Support for the Senior Certificates of Pool 4 will have separate credit support.				Aggregate		SubGroup1			SubGroup2		SubGroup3
		Collateral Type		15Yr		4.5% Pass-Thru			5.0% Pass-Thru		7.0% Pass-Thru
		Outstanding Principal Balance		170,229,284		16,888,829			137,534,495		15,741,382
		Number of Mortgage Loans		308
		Average Original Balance		568,676		548,047			570,171		547,277
		Weighted Average Coupon		5.372%		4.874%			5.404%		5.630%
		Weighted Average Maturity		174		165			175		175
		Weighted Average Seasoning		6		15			5		4
		Weighted Average Loan-to-Value		60%		59%			60%		62%
		Weighted Average FICO Score		749		762			748		744
		Geographic Distribution		CA(26%),NY(9%)		CA(42%),MA(7%)			CA(24%),NY(10%)		CA(25%),IL(11%)
		Owner Occupied		87%		99%			86%		82%
		Purpose-Cash Out		35%		24%			35%		39%
		Primary Mortgage Pool Servicer		Wells(37%)
		Other Servicers		Countrywide(23%),Chase(22%),National City(12%),Harris(3%),MidAmerica(2%)
Key Terms		Preliminary Mortgage Pool(s) Data - 30 Year Prime (Group 1)
Issuer : J.P.Morgan Mortgage Trust			Pool 2 Aggregate		Pool 2 SubGroup1		Pool 2 SubGroup2			Pool 2 SubGroup3		Pool 2 SubGroup4
Underwriter : J.P.Morgan Securities, Inc.
Depositor : J.P. Morgan Acceptance Corp. I		Collateral Type	30Yr		5.25% Pass-Thru		5.5% Pass-Thru			6.0% Pass-Thru		6.5% Pass-Thru
Master Servicer: Wells Fargo		Outstanding Principal Balance	934,400,449		43,583,236		471,921,194			389,919,002		28,860,152
Trustee: Wachovia Bank		Number of Mortgage Loans	1780
Type of Issuance: Public		Average Original Balance	527,065		572,241		538,335			518,640		429,132
Servicer Advancing: Yes, Subject to Recoverability.		Weighted Average Coupon	5.978%		5.553%		5.879%			6.104%		6.543%
Compensating Interest: Paid, But Capped.		Weighted Average Maturity	357		356		357			357		358
Clean-Up Call / Optional Termination: [5%] clean-up call (aggregate portfolio)		Weighted Average Seasoning	2		3		2			2		2
Legal Investment: The Senior Certificates are		Weighted Average Loan-to-Value	70%		66%		69%			71%		74%
SMEEA Eligible at Settlement.		Weighted Average FICO Score	741		748		745			736		714
ERISA Eligible: The Senior Certificates are		Geographic Distribution	CA(38%),NY(13%)		CA(52%),NY(15%)		CA(41%),NY(13%)			CA(34%),NY(13%)		CA(19%),NY(13%)
ERISA eligible subject to limitations set		Owner Occupied	95%		98%		94%			94%		94%
forth in the final prospectus supplement.		Purpose-Cash Out	28%		14%		25%			32%		25%
Tax Treatment: REMIC		Primary Mortgage Pool Servicer	Chase(95%)
Structure: Senior/Subordinate w/ Shifting Interest		Other Servicers	MidAmerica(3%),Harris(2%)
and Subordinate Certificate Prepayment Lockout
Expected AAA Subordination: (3.0% +/- .50% Group 1)
(3.0% +/- .50% Group 2)
Rating Agencies: At least 2 of 4; Moody's, S&P, Fitch, Dominion
Registration: Senior Certificates - DTC
Time Table (approximate)		JPMSI Whole Loan Trading Desk
Expected Settlement 8/31/05		John Horner Dan Lonski Ruslan Margolin Marc Simpson
Cut-Off Date 8/1/05						212-834-2499
First Distribution Date 9/25/05
Distribution Date 25th or Next Business Day
THE INFORMATION CONTAINED HEREIN IS QUALIFIED IN ITS ENTIRETY BY THE INFORMATION IN THE PROSPECTUS AN D PROSPECTUS SUPPLEMENT FOR THIS TRANSACTION. THE INFORMATION CONTAINED HERE IN IS PRELIMINARY AS OF THE DATE HEREOF AND SUPERSEDES ANY PREVIOUS SUCH INFORMATION DELIVERED TO YOU. THESE MATERIALS ARE SUBJECT TO CHANGE, COMPLETION OR AMENDMENT FROM TIME TO TIME. THIS COMMUNICATION IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED THIS COMMUNIICATION DOES NOT CONTAIN ALL THE INFORMATION THAT IS REQUIRED TO BE INCLUDED IN THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT. INVESTORS ARE URGED TO READ THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISION BECAUSE THEY CONTAIN IMPORTANT INFORMATION. YOU SHOULD CON SULT YOUR OWN COUNSEL, ACCOUNTANT AND OTHER ADVISORS AS TO THE LEGAL, TAX, BUSINESS, FINANCIAL AND RELATED ASPECTS OF A PURCHASE OF THESE SECURITIES. The attached information may contain certain tables and other statistical analyses (the “Computational Materials”) which have be en prepared in reliance upon information furnished by the issuer. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. JPMORGAN IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH THE PROPOSED TRANSACTION. Copyright 2005 JPMorgan Chase & Co. –All rights reserved. J.P. Morgan Securities Inc., member NYSE and SIPC. JPMorgan is the marketing name used by the specific legal entity or entities named in the attached materials. Clients should contact analysts and execute transactions through a JPMorgan Chase & Co. subsidiary or affiliate in their home jurisdiction unless governing law permits otherwise.

The information herein will be superseded in its entirety by the final prospectus and prospectus supplement relating to the securities. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR JPMORGAN SALES REPRESENTATIVE.
	Preliminary Structural and Collateral Term Sheet $1,290,000,000 (approximate) of Senior Certificates J.P. Morgan Mortgage Trust 2005-S2 Mortgage Pass-Through Certificates, Series 2005-S2						08/17/2005
Features of the Transaction		Preliminary Mortgage Pool(s) Data - 30 Year (Group 1)
				Pool 3
- Offering consists of approximately [1,290mm] of Senior Certificates. expected to be rated AAA by at least 2 of the Rating Agencies; S&P, Moody's, Fitch, DBRS - The Amount of Senior Certificates is approximate and may vary. - Multiple groups of Mortgage Loans will collateralize the transaction. - There are approximately 4 Pools of Senior Certificates, Pools 1 & 4 consist of 3 SubGroups each which may vary, Pool 2 consists of 4 SubGroups - The Credit Support for the Senior Certificates of Pools 1, 2, & 3 is Cross-Collateralized with respect to losses. - The Credit Support for the Senior Certificates of Pool 4 will have separate credit support.				Aggregate
		Collateral Type		30 Yr
		Outstanding Principal Balance		27,848,118
		Number of Mortgage Loans		61
		Average Original Balance		483,577
		Weighted Average Coupon		7.011%
		Weighted Average Maturity		310
		Weighted Average Seasoning		46
		Weighted Average Loan-to-Value		69%
		Weighted Average FICO Score		708
		Geographic Distribution		CA(20%),NY(16%)
		Owner Occupied		95%
		Purpose-Cash Out		30%
		Primary Mortgage Pool Servicer		Chase Mortgage(100%)
Key Terms		Preliminary Mortgage Pool(s) Data - 30 Year Prime (Group 1)
Issuer : J.P.Morgan Mortgage Trust			Pool 4 Aggregate		Pool 4 SubGroup1	Pool 4 SubGroup2		Pool 4 SubGroup3
Underwriter : J.P.Morgan Securities, Inc.
Depositor : J.P. Morgan Acceptance Corp. I		Collateral Type	15Yr		5.0% Pass-Thru	5.5% Pass-Thru		6.0% Pass-Thru
Master Servicer: Wells Fargo		Outstanding Principal Balance	197,925,911		49,471,033	105,356,087		43,021,237
Trustee: Wachovia Bank		Number of Mortgage Loans	462
Type of Issuance: Public		Average Original Balance	438,875		464,492	464,880		431,515
Servicer Advancing: Yes, Subject to Recoverability.		Weighted Average Coupon	5.720%		5.390%	5.678%		6.202%
Compensating Interest: Paid, But Capped.		Weighted Average Maturity	174		173	174		175
Clean-Up Call / Optional Termination: [5%] clean-up call (aggregate portfolio)		Weighted Average Seasoning	5		5	5		4
Legal Investment: The Senior Certificates are		Weighted Average Loan-to-Value	64%		60%	64%		66%
SMEEA Eligible at Settlement.		Weighted Average FICO Score	695		703	693		691
ERISA Eligible: The Senior Certificates are		Geographic Distribution	CA(33%),FL(12%)		CA(34%),NJ(9%)	CA(33%),FL(13%)		CA(30%),FL(15%)
ERISA eligible subject to limitations set		Owner Occupied	83%		88%	85%		73%
forth in the final prospectus supplement.		Purpose-Cash Out	46%		45%	45%		48%
Tax Treatment: REMIC		Primary Mortgage Pool Servicer	Countrywide(86%)
Structure: Senior/Subordinate w/ Shifting Interest		Other Servicers	Suntrust(9%)
and Subordinate Certificate Prepayment Lockout
Expected AAA Subordination: (3.0% +/- .50% Group 1)
(3.0% +/- .50% Group 2)
Rating Agencies: At least 2 of 4; Moody's, S&P, Fitch, Dominion
Registration: Senior Certificates - DTC
Time Table (approximate)		JPMSI Whole Loan Trading Desk
Expected Settlement 8/31/05		John Horner Dan Lonski 212-834-2499 Ruslan Margolin Marc Simpson
Cut-Off Date 8/1/05
First Distribution Date 9/25/05
Distribution Date 25th or Next Business Day
THE INFORMATION CONTAINED HEREIN IS QUALIFIED IN ITS ENTIRETY BY THE INFORMATION IN THE PROSPECTUS AN D PROSPECTUS SUPPLEMENT FOR THIS TRANSACTION. THE INFORMATION CONTAINED HERE IN IS PRELIMINARY AS OF THE DATE HEREOF AND SUPERSEDES ANY PREVIOUS SUCH INFORMATION DELIVERED TO YOU. THESE MATERIALS ARE SUBJECT TO CHANGE, COMPLETION OR AMENDMENT FROM TIME TO TIME. THIS COMMUNICATION IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED THIS COMMUNIICATION DOES NOT CONTAIN ALL THE INFORMATION THAT IS REQUIRED TO BE INCLUDED IN THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT. INVESTORS ARE URGED TO READ THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISION BECAUSE THEY CONTAIN IMPORTANT IN FORMATION. YOU SHOULD CONSULT YOUR OWN COUNSEL, ACCOUNTANT AND OTHER ADVISORS AS TO THE LEGAL, TAX, BUSINESS, FINANCIAL AND RELATED ASPECTS OF A PURCHASE OF THESE SECURITIES. The attached information may contain certain tables and other statistical analyses (the “Computational Materials”) which have be en prepared in reliance upon information furnished by the issuer. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. JPMORGAN IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH THE PROPOSED TRANSACTION. Copyright 2005 JPMorgan Chase & Co. –All rights reserved. J.P. Morgan Securities Inc., member NYSE and SIPC. JPMorgan is the marketing name used by the specific legal entity or entities named in the attached materials. Clients should contact analysts and execute transactions through a JPMorgan Chase & Co. subsidiary or affiliate in their home jurisdiction unless governing law permits otherwise.

The information herein will be superseded in its entirety by the final prospectus and prospectus supplement relating to the securities. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR JPMORGAN SALES REPRESENTATIVE.
J.P. Morgan Mortgage Trust 2005-S2 Mortgage Pass-Through Certificates, Series 2005-S2 Deal Summary Report
	Assumptions	Collateral
Settlement 31-Aug-05	Prepay 300 PSA|300 PSA|300 PSA|100 PPC	Balance WAC WAM Age WAL
1st Pay Date 25-Sep-05	Default 0 CDR	$1,330,403,760.73 5.883 300 5 0.00
	Recovery
	Severity 0%
Tranche Name Rating Balance Coupon Principal Window Avg. Life Dated Date
PT1 165,122,405.36 5.1330 09/05 - 07/20 4.13 01-Aug-05
SUBORD_1 5,106,878.52 5.1330 09/05 - 07/20 7.15 01-Aug-05
PT2 906,368,435.33 5.7280 09/05 - 07/35 5.39 01-Aug-05
SUBORD_2 28,032,013.46 5.7280 09/05 - 07/35 10.29 01-Aug-05
PT 27,012,673.98 6.7610 09/05 - 02/10 1.60 01-Aug-05
SUBORD_3 835,443.53 6.7610 09/05 - 02/10 2.05 01-Aug-05
PT4 191,988,133.23 5.7200 09/05 - 07/20 3.66 01-Aug-05
SUBORD_4 5,937,777.32 5.7200 09/05 - 07/20 7.21 01-Aug-05
Yield Curve swap curve
Mat 3MO 6MO 2YR 5YR 10YR 30YR 3mo 6mo 1yr 2yr 3yr 4yr 5yr 7yr
Yld 3.532 3.797 4.026 4.097 4.232 4.429 3.61 3.83 4.05 4.21 4.285 4.338 4.395 4.486
THE INFORMATION CONTAINED HEREIN IS QUALIFIED IN ITS ENTIRETY BY THE INFORMATION IN THE PROSPECTUS AN D PROSPECTUS SUPPLEMENT FOR THIS TRANSACTION. THE INFORMATION CONTAINED HERE IN IS PRELIMINARY AS OF THE DATE HEREOF AND SUPERSEDES ANY PREVIOUS SUCH INFORMATION DELIVERED TO YOU. THESE MATERIALS ARE SUBJECT TO CHANGE, COMPLETION OR AMENDMENT FROM TIME TO TIME. THIS COMMUNICATION IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED THIS COMMUNIICATION DOES NOT CONTAIN ALL THE INFORMATION THAT IS REQUIRED TO BE INCLUDED IN THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT. INVESTORS ARE URGED TO READ THE BASE PROSPECTUS AND THE PROSPECTUS SUPPLEMENT AND OTHER RELEVANT DOCUME NTS FILED OR TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISION BECAUSE THEY CONTAIN IMPORTANT INFORMATION. YOU SHOULD CONSULT YOUR OWN COUNSEL, ACCOUNTANT AND OTHER ADVISORS AS TO THE LEGAL, TAX, BUSINESS, FINANCIAL AND RELATED ASPECTS OF A PURCHASE OF THESE SECURITIES. The attached information may contain certain tables and other statistical analyses (the “Computational Materials”) which have be en prepared in reliance upon information furnished by the issuer. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. JPMORGAN IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH THE PROPOSED TRANSACTION. Copyright 2005 JPMorgan Chase & Co. –All rights reserved. J.P. Morgan Securities Inc., member NYSE and SIPC. JPMorgan is the marketing name used by the specific legal entity or entities named in the attached materials. Clients should contact analysts and execute transactions through a JPMorgan Chase & Co. subsidiary or affiliate in their home jurisdiction unless governing law permits otherwise.