C-BASS 2005-CB5 Monthly Distribution Report

EX-99.1 CHARTER 2 ex991_1205.htm C-BASS 2005 CB5 C-BASS 2005-CB5 Monthly Distribution Report

C-BASS Contact:

MORTGAGE LOAN ASSET-BACKED CERTIFICATES Mike Bengtson

SERIES 2005-CB5 Account Administrator

651-495-3847

michael.bengtson@usbank.com

DISTRIBUTION STATEMENT

Distribution Date: December 27, 2005

Original Beginning Class Interest Net WAC Allocable Ending

Certificate Certificate Principal Interest Carryover Total Rate Carryover Loss Certificate

Class Face Value Balance Distribution Distribution Shortfall Distribution Amount Amount Balance

AV-1 $119,092,000.00 $106,540,461.87 $6,012,967.15 $407,576.46 $0.00 $6,420,543.61 $0.00 $0.00 $100,527,494.72

AV-2 $92,202,000.00 $92,202,000.00 $0.00 $365,017.47 $0.00 $365,017.47 $0.00 $0.00 $92,202,000.00

AV-3 $3,670,000.00 $3,670,000.00 $0.00 $14,953.21 $0.00 $14,953.21 $0.00 $0.00 $3,670,000.00

AF-1 $63,843,000.00 $57,788,483.08 $3,011,055.98 $222,614.08 $0.00 $3,233,670.06 $0.00 $0.00 $54,777,427.10

AF-2 $34,181,000.00 $34,181,000.00 $0.00 $137,607.01 $0.00 $137,607.01 $0.00 $0.00 $34,181,000.00

AF-3 $21,289,000.00 $21,289,000.00 $0.00 $96,137.58 $0.00 $96,137.58 $0.00 $0.00 $21,289,000.00

AF-4 $13,257,000.00 $13,257,000.00 $0.00 $55,436.36 $0.00 $55,436.36 $0.00 $0.00 $13,257,000.00

M-1 $13,143,000.00 $13,143,000.00 $0.00 $53,667.25 $0.00 $53,667.25 $0.00 $0.00 $13,143,000.00

M-2 $12,066,000.00 $12,066,000.00 $0.00 $49,591.26 $0.00 $49,591.26 $0.00 $0.00 $12,066,000.00

M-3 $8,187,000.00 $8,187,000.00 $0.00 $33,866.89 $0.00 $33,866.89 $0.00 $0.00 $8,187,000.00

M-4 $6,032,000.00 $6,032,000.00 $0.00 $25,703.02 $0.00 $25,703.02 $0.00 $0.00 $6,032,000.00

M-5 $6,248,000.00 $6,248,000.00 $0.00 $26,790.04 $0.00 $26,790.04 $0.00 $0.00 $6,248,000.00

M-6 $5,602,000.00 $5,602,000.00 $0.00 $24,269.11 $0.00 $24,269.11 $0.00 $0.00 $5,602,000.00

B-1 $5,602,000.00 $5,602,000.00 $0.00 $26,858.48 $0.00 $26,858.48 $0.00 $0.00 $5,602,000.00

B-2 $3,878,000.00 $3,878,000.00 $0.00 $18,937.57 $0.00 $18,937.57 $0.00 $0.00 $3,878,000.00

B-3 $3,663,000.00 $3,663,000.00 $0.00 $19,352.85 $0.00 $19,352.85 $0.00 $0.00 $3,663,000.00

B-4 $4,094,000.00 $4,094,000.00 $0.00 $20,470.00 $0.00 $20,470.00 $0.00 $0.00 $4,094,000.00

B-5 $4,309,000.00 $4,309,000.00 $0.00 $21,545.00 $0.00 $21,545.00 $0.00 $0.00 $4,309,000.00

N* $14,950,000.00 $12,165,296.53 $763,204.02 $55,757.61 $0.00 $818,961.63 $0.00 N/A $11,402,092.51

X* N/A $10,558,345.12 $0.00 $0.00 $0.00 $0.00 $0.00 N/A $10,558,345.12

R N/A $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 N/A $0.00

R-A N/A $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 N/A $0.00

Total $435,308,000.00 $413,917,241.48 $9,787,227.15 $1,676,151.25 $0.00 $11,463,378.40 $0.00 $0.00 $404,130,014.33

* Notional Balance

AMOUNTS PER $1,000 UNIT

Class Interest Net WAC Allocable Ending Current

Principal Interest Carryover Total Rate Carryover Loss Certificate Pass Through

Class Cusip Distribution Distribution Amount Distribution Amount Amount Balance Interest Rate

AV-1 12489WMS0 $50.49010135 $3.42236641 NA $53.91246776 $0.00000000 $0.00000000 $844.11626910 4.30375%

AV-2 12489WMT8 $0.00000000 $3.95888885 NA $3.95888885 $0.00000000 $0.00000000 $1,000.00000000 4.45375%

AV-3 12489WMU5 $0.00000000 $4.07444414 NA $4.07444414 $0.00000000 $0.00000000 $1,000.00000000 4.58375%

AF-1 12489WMV3 $47.16344752 $3.48689880 NA $50.65034632 $0.00000000 $0.00000000 $858.00208480 4.33375%

AF-2 12489WMW1 $0.00000000 $4.02583336 NA $4.02583336 $0.00000000 $0.00000000 $1,000.00000000 4.83100%

AF-3 12489WMX9 $0.00000000 $4.51583353 NA $4.51583353 $0.00000000 $0.00000000 $1,000.00000000 5.41900%

AF-4 12489WMY7 $0.00000000 $4.18166704 NA $4.18166704 $0.00000000 $0.00000000 $1,000.00000000 5.01800%

M-1 12489WMZ4 $0.00000000 $4.08333333 NA $4.08333333 $0.00000000 $0.00000000 $1,000.00000000 4.59375%

M-2 12489WNA8 $0.00000000 $4.11000000 NA $4.11000000 $0.00000000 $0.00000000 $1,000.00000000 4.62375%

M-3 12489WNB6 $0.00000000 $4.13666667 NA $4.13666667 $0.00000000 $0.00000000 $1,000.00000000 4.65375%

M-4 12489WNC4 $0.00000000 $4.26111074 NA $4.26111074 $0.00000000 $0.00000000 $1,000.00000000 4.79375%

M-5 12489WND2 $0.00000000 $4.28777849 NA $4.28777849 $0.00000000 $0.00000000 $1,000.00000000 4.82375%

M-6 12489WNE0 $0.00000000 $4.33222242 NA $4.33222242 $0.00000000 $0.00000000 $1,000.00000000 4.87375%

B-1 12489WNF7 $0.00000000 $4.79444484 NA $4.79444484 $0.00000000 $0.00000000 $1,000.00000000 5.39375%

B-2 12489WNG5 $0.00000000 $4.88333419 NA $4.88333419 $0.00000000 $0.00000000 $1,000.00000000 5.49375%

B-3 12489WNH3 $0.00000000 $5.28333333 NA $5.28333333 $0.00000000 $0.00000000 $1,000.00000000 5.94375%

B-4 12489WNJ9 $0.00000000 $5.00000000 NA $5.00000000 $0.00000000 $0.00000000 $1,000.00000000 6.00000%

B-5 12489WNK6 $0.00000000 $5.00000000 NA $5.00000000 $0.00000000 $0.00000000 $1,000.00000000 6.00000%

N* NA $51.05043612 $3.72960602 NA $54.78004214 $0.00000000 $0.00000000 $762.68177324 5.50000%

X* NA $0.00000000 $0.00000000 NA $0.00000000 $0.00000000 $0.00000000 $0.00000000 NA

R NA $0.00000000 $0.00000000 NA $0.00000000 $0.00000000 $0.00000000 $0.00000000 NA

R-A NA $0.00000000 $0.00000000 NA $0.00000000 $0.00000000 $0.00000000 $0.00000000 NA

Page 1

C-BASS Contact:

MORTGAGE LOAN ASSET-BACKED CERTIFICATES Mike Bengtson

SERIES 2005-CB5 Account Administrator

651-495-3847

michael.bengtson@usbank.com

Distribution Date: December 27, 2005

DISTRIBUTION STATEMENT

Pooling and Servicing Agreement Dated October 20, 2005

i) Distributions to the Holders See Page 1

ii) Class X Distribution Amount See Page 1

iii) Overcollateralization Amount (before distributions) $10,558,345.12

Overcollateralization Release Amount $0.00

Overcollateralization Deficiency $0.00

Overcollateralization Target Amount $10,557,450.46

Overcollateralization Amount (after distributions) $10,558,345.12

Amount of Excess Interest $615,426.68

Amount of Excess Cashflow $615,426.68

Group 1 Group 2 Total

iv) Servicing Fees $105,779.14 $65,769.88 $171,549.02

v) Advances $99,959.53

vi) Ending Pool Principal Balance $247,974,758.92 $155,311,508.02 $403,286,266.94

vii) Loan Count 1172 1097 2269

Weighted average remaining term of the Mortgage Loans 351 337 346

Weighted average Mortage Rate of the Mortgage Loans 6.93939% 7.17143% 7.02849%

viii) Delinquency And Foreclosure Information:

Group 1 All Categories Bankruptcy Foreclosure

Number Balance Number Balance Number Balance

Current: 1114 $237,121,616.82 0 $0.00 0 $0.00

30 days Delinquent: 30 $5,927,927.20 0 $0.00 0 $0.00

60 days delinquent: 15 $2,012,359.82 0 $0.00 0 $0.00

90+ days delinquent: 13 $2,912,855.08 1 $206,674.76 7 $1,674,482.47

Group 2 All Categories Bankruptcy Foreclosure

Number Balance Number Balance Number Balance

Current: 1057 $151,251,940.44 0 $0.00 0 $0.00

30 days Delinquent: 23 $2,535,118.09 1 $194,072.74 0 $0.00

60 days delinquent: 12 $1,022,411.28 0 $0.00 0 $0.00

90+ days delinquent: 5 $502,038.21 0 $0.00 2 $238,931.03

ix) Loans that became REO properties (see page 5)

x) Total Book Value of REO Properties: (see page 5)

Group 1 Group 2 Total

xi) Principal Prepayments made during Due Period $5,894,751.80 $2,858,882.23 $8,753,634.03

xii) Current Period Prepayment Penalties Due $207,469.79

Current Period Prepayment Penalties Received $203,534.95

Aggregate Prepayment Penalties $584,637.56

Aggregate Prepayment Penalties allocated to Classes N $584,637.56

Aggregate Prepayment Penalties allocated to Classes X $0.00

xiii) Aggregate Realized Losses incurred during Due Period $0.00 $0.00 $0.00

Cumulative Realized Losses $0.00 $0.00 $0.00

xiv) Realized Loss Allocations See Page 1

xv) Accrued Certificate Interest See Page 1

Page 2

Group 1 Group 2 Total

xvi) Prepayment Interest Shortfall not covered by the servicer $0.00 $0.00 $0.00

xvii) Trustee Fees $1,375.77 $857.58 $2,233.35

xviii) Net WAC Rate Carryover Amounts

Current Distribution Amounts Remaining

AV-1 0.00 0.00

AV-2 0.00 0.00

AV-3 0.00 0.00

AF-1 0.00 0.00

AF-2 0.00 0.00

AF-3 0.00 0.00

AF-4 0.00 0.00

M-1 0.00 0.00

M-2 0.00 0.00

M-3 0.00 0.00

M-4 0.00 0.00

M-5 0.00 0.00

M-6 0.00 0.00

B-1 0.00 0.00

B-2 0.00 0.00

B-3 0.00 0.00

B-4 0.00 0.00

B-5 0.00 0.00

xix) Overcollateralization Deficiency (after distribution) 0.00

xx) Trigger Event Occurrence NO

Cummulative Realized Losses Percentage 0.0000000%

xxi) Available Funds Group 1 Group 2 Total

Scheduled Interest Net of Servicing Fees $1,362,076.93 $875,976.74 $2,238,053.67

Scheduled Principal $118,215.35 $152,173.75 $270,389.10

Unscheduled Principal $5,894,751.80 $2,858,882.23 $8,753,634.03

Available Funds $7,375,044.08 $3,887,032.72 $11,262,076.80

xxii) Class Interest Rate See Page 1

xxiii) Liquidation Report See Page 4

xxiv) Mortgage Loans Purchased by Servicer $0.00

xxv) Mortgage Loans Re-Purchased by Servicer $0.00

xxvi) Subsequent Recoveries $0.00

Page 3

LIQUIDATION REPORT

Loan Number Unpaid Principal Balance Scheduled Principal Liquidation Proceeds Loss

0.00

Page 4

REO REPORT

Loan Number Unpaid Principal Balance Scheduled Principal Book Value Group

Page 5

		C-BASS	Contact:
		MORTGAGE LOAN ASSET-BACKED CERTIFICATES	Mike Bengtson
		SERIES 2005-CB5	Account Administrator
			651-495-3847
			michael.bengtson@usbank.com
		DISTRIBUTION STATEMENT
*Distribution Date:*	December 27, 2005

	Original	Beginning			Class Interest		Net WAC	Allocable	Ending
	Certificate	Certificate	Principal	Interest	Carryover	Total	Rate Carryover	Loss	Certificate
Class	Face Value	Balance	Distribution	Distribution	Shortfall	Distribution	Amount	Amount	Balance
AV-1	$119,092,000.00	$106,540,461.87	$6,012,967.15	$407,576.46	$0.00	$6,420,543.61	$0.00	$0.00	$100,527,494.72
AV-2	$92,202,000.00	$92,202,000.00	$0.00	$365,017.47	$0.00	$365,017.47	$0.00	$0.00	$92,202,000.00
AV-3	$3,670,000.00	$3,670,000.00	$0.00	$14,953.21	$0.00	$14,953.21	$0.00	$0.00	$3,670,000.00
AF-1	$63,843,000.00	$57,788,483.08	$3,011,055.98	$222,614.08	$0.00	$3,233,670.06	$0.00	$0.00	$54,777,427.10
AF-2	$34,181,000.00	$34,181,000.00	$0.00	$137,607.01	$0.00	$137,607.01	$0.00	$0.00	$34,181,000.00
AF-3	$21,289,000.00	$21,289,000.00	$0.00	$96,137.58	$0.00	$96,137.58	$0.00	$0.00	$21,289,000.00
AF-4	$13,257,000.00	$13,257,000.00	$0.00	$55,436.36	$0.00	$55,436.36	$0.00	$0.00	$13,257,000.00
M-1	$13,143,000.00	$13,143,000.00	$0.00	$53,667.25	$0.00	$53,667.25	$0.00	$0.00	$13,143,000.00
M-2	$12,066,000.00	$12,066,000.00	$0.00	$49,591.26	$0.00	$49,591.26	$0.00	$0.00	$12,066,000.00
M-3	$8,187,000.00	$8,187,000.00	$0.00	$33,866.89	$0.00	$33,866.89	$0.00	$0.00	$8,187,000.00
M-4	$6,032,000.00	$6,032,000.00	$0.00	$25,703.02	$0.00	$25,703.02	$0.00	$0.00	$6,032,000.00
M-5	$6,248,000.00	$6,248,000.00	$0.00	$26,790.04	$0.00	$26,790.04	$0.00	$0.00	$6,248,000.00
M-6	$5,602,000.00	$5,602,000.00	$0.00	$24,269.11	$0.00	$24,269.11	$0.00	$0.00	$5,602,000.00
B-1	$5,602,000.00	$5,602,000.00	$0.00	$26,858.48	$0.00	$26,858.48	$0.00	$0.00	$5,602,000.00
B-2	$3,878,000.00	$3,878,000.00	$0.00	$18,937.57	$0.00	$18,937.57	$0.00	$0.00	$3,878,000.00
B-3	$3,663,000.00	$3,663,000.00	$0.00	$19,352.85	$0.00	$19,352.85	$0.00	$0.00	$3,663,000.00
B-4	$4,094,000.00	$4,094,000.00	$0.00	$20,470.00	$0.00	$20,470.00	$0.00	$0.00	$4,094,000.00
B-5	$4,309,000.00	$4,309,000.00	$0.00	$21,545.00	$0.00	$21,545.00	$0.00	$0.00	$4,309,000.00
N*	$14,950,000.00	$12,165,296.53	$763,204.02	$55,757.61	$0.00	$818,961.63	$0.00	N/A	$11,402,092.51
X*	N/A	$10,558,345.12	$0.00	$0.00	$0.00	$0.00	$0.00	N/A	$10,558,345.12
R	N/A	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	N/A	$0.00
R-A	N/A	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	N/A	$0.00
Total	$435,308,000.00	$413,917,241.48	$9,787,227.15	$1,676,151.25	$0.00	$11,463,378.40	$0.00	$0.00	$404,130,014.33
* Notional Balance

AMOUNTS PER $1,000 UNIT
				Class Interest		Net WAC	Allocable	Ending	Current
		Principal	Interest	Carryover	Total	Rate Carryover	Loss	Certificate	Pass Through
Class	Cusip	Distribution	Distribution	Amount	Distribution	Amount	Amount	Balance	Interest Rate
AV-1	12489WMS0	$50.49010135	$3.42236641	NA	$53.91246776	$0.00000000	$0.00000000	$844.11626910	4.30375%
AV-2	12489WMT8	$0.00000000	$3.95888885	NA	$3.95888885	$0.00000000	$0.00000000	$1,000.00000000	4.45375%
AV-3	12489WMU5	$0.00000000	$4.07444414	NA	$4.07444414	$0.00000000	$0.00000000	$1,000.00000000	4.58375%
AF-1	12489WMV3	$47.16344752	$3.48689880	NA	$50.65034632	$0.00000000	$0.00000000	$858.00208480	4.33375%
AF-2	12489WMW1	$0.00000000	$4.02583336	NA	$4.02583336	$0.00000000	$0.00000000	$1,000.00000000	4.83100%
AF-3	12489WMX9	$0.00000000	$4.51583353	NA	$4.51583353	$0.00000000	$0.00000000	$1,000.00000000	5.41900%
AF-4	12489WMY7	$0.00000000	$4.18166704	NA	$4.18166704	$0.00000000	$0.00000000	$1,000.00000000	5.01800%
M-1	12489WMZ4	$0.00000000	$4.08333333	NA	$4.08333333	$0.00000000	$0.00000000	$1,000.00000000	4.59375%
M-2	12489WNA8	$0.00000000	$4.11000000	NA	$4.11000000	$0.00000000	$0.00000000	$1,000.00000000	4.62375%
M-3	12489WNB6	$0.00000000	$4.13666667	NA	$4.13666667	$0.00000000	$0.00000000	$1,000.00000000	4.65375%
M-4	12489WNC4	$0.00000000	$4.26111074	NA	$4.26111074	$0.00000000	$0.00000000	$1,000.00000000	4.79375%
M-5	12489WND2	$0.00000000	$4.28777849	NA	$4.28777849	$0.00000000	$0.00000000	$1,000.00000000	4.82375%
M-6	12489WNE0	$0.00000000	$4.33222242	NA	$4.33222242	$0.00000000	$0.00000000	$1,000.00000000	4.87375%
B-1	12489WNF7	$0.00000000	$4.79444484	NA	$4.79444484	$0.00000000	$0.00000000	$1,000.00000000	5.39375%
B-2	12489WNG5	$0.00000000	$4.88333419	NA	$4.88333419	$0.00000000	$0.00000000	$1,000.00000000	5.49375%
B-3	12489WNH3	$0.00000000	$5.28333333	NA	$5.28333333	$0.00000000	$0.00000000	$1,000.00000000	5.94375%
B-4	12489WNJ9	$0.00000000	$5.00000000	NA	$5.00000000	$0.00000000	$0.00000000	$1,000.00000000	6.00000%
B-5	12489WNK6	$0.00000000	$5.00000000	NA	$5.00000000	$0.00000000	$0.00000000	$1,000.00000000	6.00000%
N*	NA	$51.05043612	$3.72960602	NA	$54.78004214	$0.00000000	$0.00000000	$762.68177324	5.50000%
X*	NA	$0.00000000	$0.00000000	NA	$0.00000000	$0.00000000	$0.00000000	$0.00000000	NA
R	NA	$0.00000000	$0.00000000	NA	$0.00000000	$0.00000000	$0.00000000	$0.00000000	NA
R-A	NA	$0.00000000	$0.00000000	NA	$0.00000000	$0.00000000	$0.00000000	$0.00000000	NA

iii)	Overcollateralization Amount (before distributions)	$10,558,345.12
	Overcollateralization Release Amount	$0.00
	Overcollateralization Deficiency	$0.00
	Overcollateralization Target Amount	$10,557,450.46
	Overcollateralization Amount (after distributions)	$10,558,345.12

	Amount of Excess Interest					$615,426.68
	Amount of Excess Cashflow					$615,426.68

				Group 1	Group 2	Total
iv)	Servicing Fees			$105,779.14	$65,769.88	$171,549.02

vii)	Loan Count			1172	1097	2269
	Weighted average remaining term of the Mortgage Loans			351	337	346
	Weighted average Mortage Rate of the Mortgage Loans			6.93939%	7.17143%	7.02849%


viii)	Delinquency And Foreclosure Information:
	Group 1	All Categories		Bankruptcy		Foreclosure
		Number	Balance	Number	Balance	Number	Balance
	Current:	1114	$237,121,616.82	0	$0.00	0	$0.00
	30 days Delinquent:	30	$5,927,927.20	0	$0.00	0	$0.00
	60 days delinquent:	15	$2,012,359.82	0	$0.00	0	$0.00
	90+ days delinquent:	13	$2,912,855.08	1	$206,674.76	7	$1,674,482.47

Group 2	All Categories		Bankruptcy		Foreclosure
	Number	Balance	Number	Balance	Number	Balance
Current:	1057	$151,251,940.44	0	$0.00	0	$0.00
30 days Delinquent:	23	$2,535,118.09	1	$194,072.74	0	$0.00
60 days delinquent:	12	$1,022,411.28	0	$0.00	0	$0.00
90+ days delinquent:	5	$502,038.21	0	$0.00	2	$238,931.03

x)	Total Book Value of REO Properties: (see page 5)
		Group 1	Group 2	Total
xi)	Principal Prepayments made during Due Period	$5,894,751.80	$2,858,882.23	$8,753,634.03

xii)	Current Period Prepayment Penalties Due	$207,469.79
	Current Period Prepayment Penalties Received	$203,534.95
	Aggregate Prepayment Penalties	$584,637.56
	Aggregate Prepayment Penalties allocated to Classes N	$584,637.56
	Aggregate Prepayment Penalties allocated to Classes X	$0.00

xiii)	Aggregate Realized Losses incurred during Due Period			$0.00	$0.00	$0.00
	Cumulative Realized Losses			$0.00	$0.00	$0.00

xviii)		Net WAC Rate Carryover Amounts
		Current Distribution	Amounts Remaining
	AV-1	0.00	0.00
	AV-2	0.00	0.00
	AV-3	0.00	0.00
	AF-1	0.00	0.00
	AF-2	0.00	0.00
	AF-3	0.00	0.00
	AF-4	0.00	0.00
	M-1	0.00	0.00
	M-2	0.00	0.00
	M-3	0.00	0.00
	M-4	0.00	0.00
	M-5	0.00	0.00
	M-6	0.00	0.00
	B-1	0.00	0.00
	B-2	0.00	0.00
	B-3	0.00	0.00
	B-4	0.00	0.00
	B-5	0.00	0.00

xx)	Trigger Event Occurrence					NO
	Cummulative Realized Losses Percentage					0.0000000%

xxi)	Available Funds		Group 1	Group 2	Total
		Scheduled Interest Net of Servicing Fees	$1,362,076.93	$875,976.74	$2,238,053.67
		Scheduled Principal	$118,215.35	$152,173.75	$270,389.10
		Unscheduled Principal	$5,894,751.80	$2,858,882.23	$8,753,634.03
		Available Funds	$7,375,044.08	$3,887,032.72	$11,262,076.80

Loan Number	Unpaid Principal Balance	Scheduled Principal	Book Value	Group