10-K 1 v069958_10k.txt UNITED STATES OF AMERICA 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, 2006 OR |_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 333-127360-02 GE-WMC MORTGAGE SECURITIES, L.L.C. 2005-2 (as depositor under the Pooling and Servicing Agreement, dated as of December 1, 2005, providing for the issuance of GE-WMC ASSET-BACKED PASS-THROUGH CERTIFICATES, SERIES 2005-2) GE-WMC Mortgage Securities, L.L.C. (Exact name of registrant as specified in its charter) Delaware 20-3251258 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 3100 Thornton Avenue Burbank, California 91504 (Address of principal executive offices) (Zip Code) Registrants telephone number, including area code: 818-736-7023 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 whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No X Indicate by check mark whether 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 registrants 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. Yes No 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 last business day of the registrants most recently completed second fiscal quarter. Not applicable. Indicate the number of shares outstanding of each of the registrants classes of common stock, as of the latest practicable date. Not applicable. List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g. Part I, Part II, etc.) into which the document is incorporated: (1)Any annual report to security holders (2) Any proxy or information statement and (3)Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g. annual report to security holders for fiscal year ended December 24, 1980). Not applicable. * * * PART I Item 1. Business. This Annual Report on Form 10-K (the Report) is filed with respect to GE-WMC Mortgage Securities Trust 2005-2 (the Trust). Certain information requested by this Report is omitted pursuant to the request for no-action letter forwarded to the Office of Chief Counsel Division of Corporate Finance, dated November 25, 1996, relating to Nellie Mae Education Funding, LLC, and the reponse of the SEC, dated December 20, 1996, to the no-action request (collectively, the No-Action Request). Omitted pursuant to the No-Action Request. 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 pursuant to which the Trust was created, the trustee, the servicer or the Registrant with respect to the Trust other than routine litigation involving the assets of the Trust or 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 registrants Common Equity and Related Stockholder Matters. (a) Each class of publicly-offered securites is represented by one or more certificates registered in the name of Cede & Co., the nominee of The Depository Trust Company. To the best of knowledge of the Registrant, there is no established public trading market for the securities. (b) Not applicable (c) Not applicable. Item 6. Selected Financial Data. Omitted pursuant to the No-Action Request. Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operation. Omitted pursuant to the No-Action Request. Item 7A. Quantitative and Qualitative Disclosures about Market Risk. Not applicable. Item 8. Financial Statements and Supplementary Data. Omitted pursuant to the No-Action Request. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. None. Item 9A and 9A(T). Controls and Procedures. Omitted. Item 9B. Other Information None. PART III Item 10. Directors and Executive Officers of the Registrant. Omitted pursuant to the No-Action Request. Item 11. Executive Compensation. Omitted pursuant to the No-Action Request. Item 12. Security Ownership of Certain Beneficial Owners and Management. Each class of securities is represented by one or more notes or certificates registered in the name of Cede & Co., the nominee of The Depository Trust Company (DTC). Cede & Co. is the sole holder of record of the securities, which it held on behalf of brokers, dealers, banks and other direct participants in the DTC system at December 31, 2006. Such direct participants may hold securities for their own accounts or for the accounts of their customers. Item 13. Certain Relationships and Related Transactions. Nothing to report. Item 14. Principal Accounting Fees and Services. Omitted. PART IV Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K. (a) List of Documents Filed as Part of this Annual Report on Form 10-K EXHIBIT DESCRIPTION 31.1 Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 99.1 Annual Independent Accountants Servicing Reports concerning servicing activities for the year ended December 31, 2006. 99.2 Annual Statement of Compliance under the Pooling and Servicing Agreement for the year ended December 31, 2006. 99.4 Aggregate Statement of Principal and Interest Distributions to Certificate Holders. (b) The following Current Reports on Form 8-K were filed by the Registrant during the fiscal year ending December 31, 2006 and through the date hereof: Not Applicable. 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: GE-WMC MORTGAGE SECURITIES, L.L.C. (Registrant) Signed: By: James Zollo By: /s/ James Zollo Dated: March 29, 2007