Aames Mortgage Investment Trust 2005-2
Not applicable.  See the Relief Letters.
Not applicable.
None.
Not applicable.  See the Relief Letters.
There were no material pending legal proceedings relating to                   the Trust to which any of the Trust, the Trustee, the Owner                   Trustee, the Securities Administrator, the Master Servicer,                   the Servicer or the Company was a party or of which any of                   their respective properties was the subject during the fiscal                   year covered by this Report other than ordinary routine                   litigation incidental to the duties of the Trust, the                   Trustee, the Owner Trustee, the Securities Administrator,                   the Master Servicer, the Servicer or the Company, nor is the                   Company aware of any such proceedings contemplated by                   governmental authorities.
No matter was submitted to a vote of Noteholders, and no                   Noteholder consent was solicited during the fiscal year                   covered by this Report.                                          4                                       PART II
(a)    Item 201 of Regulation S-K:                        i. Market Information. There is no established public                          trading market for the Notes.                       ii. Holders. As of December 31, 2005 there were less                          than 300 holders of record of the Notes.                                                            -----                      iii. Dividends. Not applicable. See the Relief                          Letters. (Information as to distributions to                          Noteholders is provided in the Registrant's monthly                          filings on Form 8-K.)                       iv. Securities Authorized for Issuance Under Equity                          Compensation Plans. Not applicable.                           Item 701 of Regulation S-K. Not applicable.                    (b)    Rule 463 of the Securities Act of 1933. Not                          applicable.                    (c)    Item 703 of Regulation S-K. Not applicable as the                          Registrant has no class of equity securities                          registered pursuant to section 12 of the Securities                          Exchange Act of 1934.
Not applicable.  See the Relief Letters.
Not applicable.  See the Relief Letters.
Not applicable.
Not applicable.  See the Relief Letters.                                          5
None.
Not applicable.
None.                                          6                                      PART III
Not applicable.  See the Relief Letters.
Not applicable.  See the Relief Letters.
Information required by Item 201(d) of Regulation S-K: Not                   applicable.                    Information required by Item 403 of Regulation S-K:                    (a) Not applicable. See the Relief Letters.                    (b) Not applicable. See the Relief Letters.                    (c) Not applicable. See the Relief Letters.
Not applicable.  See the Relief Letters.
Not applicable.                                          7                                       PART IV
(a)     (1) Pursuant to the Transfer and Servicing Agreement,                               the Master Servicer is required (i) to deliver an                               annual statement as to compliance with the                               provisions of the Transfer and Servicing Agreement                               and certain other matters (the "Annual Statement                               of the Master Servicer") and (ii) to cause a firm                               of independent public accountants to deliver an                               annual report as to compliance with the servicing                               provisions of the Transfer and Servicing Agreement                               (the "Annual Report of the Firm of Accountants").                               The Annual Statement of the Master Servicer is                               attached as Exhibit 99.1 to this Report.  The                               Annual Report of the Firm of Accountants is                               attached as Exhibit 99.2 to this Report. See                               Relief Letters.                             (2) Not applicable.                             (3) The required exhibits are as follows:                                 o    Exhibit 3(i): Copy of Company's                                     Certificate of Incorporation (Filed                                     as an Exhibit to Registration                                     Statement on Form S-3 (File No.                                     33-11095)).                                 o    Exhibit 3(ii): Copy of Company's                                     By-laws (Filed as an Exhibit to                                     Registration Statement on Form S-3                                     (File No. 33-11095)).                                 o    Exhibit 4(i): Transfer and Servicing                                     Agreement (Filed as part of the                                     Registrant's Current Report on Form                                     8-K filed on June 15, 2006).                                 o    Exhibit 4(ii): Mortgage Loan Purchase                                     and Assignment Agreement (Filed as                                     part of the Registrant's Current                                     Report on Form 8-K filed on June 15,                                     2006).                                 o    Exhibit 4(iii): Indenture (Filed as                                     part of the Registrant's Current                                     Report on Form 8-K filed on June 15,                                     2006).                                 o    Exhibit 31:  Rule 15d-14(a) Certification.                                 o    Exhibit 99.1:  Annual Statement of the                                     Master Servicer.                                 o    Exhibit 99.2: Report on Management's                                     Assertion on Compliance with the Minimum                                     Servicing Standards Set Forth in the                                     Uniform Single Attestation Program for                                     Mortgage Bankers.                                          8                                   o    Exhibit 99.3:  Annual Statement of the                                     Servicer.                                 o    Exhibit 99.5: Trust Agreement (Filed                                     as part of the Registrant's Current                                     Report on Form 8-K filed on June 15,                                     2006).                    (b) See subparagraph (a)(3) above.                    (c) Not applicable. See the Relief Letters.                                          9                                     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.                                          CWABS, INC.                                         AAMES MORTGAGE INVESTMENT TRUST 2005-2,                                         MORTGAGE-BACKED NOTES.                                          By:   CWABS, Inc.,                                               as Depositor*                                          By:   /s/ David A. Spector                                               ---------------------                                               Name: David A. Spector                                               Title: Vice President                                            Date: March 29, 2006     _________________  * This Report is being filed by the Depositor on behalf of the Trust. The Trust does not have any officers or directors.                                          10            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.           No such annual report, proxy statement, form of proxy or other soliciting material has been, or will be, sent to Noteholders. See the Relief Letters.                                          11                                    EXHIBIT INDEX    Exhibit            Document  3(i)              Company's Certificate of Incorporation (Filed as an Exhibit to                   Registration Statement on Form S-3 (File No. 33-11095))*  3(ii)             Company's By-laws (Filed as an Exhibit to Registration                   Statement on Form S-3 (File No. 33-11095))*  4(i)              Transfer and Servicing Agreement (Filed as part of the                   Company's Current Report on Form 8-K filed on June 15,                   2006)*  4(ii)             Mortgage Loan Purchase and Assignment Agreement (Filed as part                   of the Registrant's Current Report on  Form 8-K filed on                   June 15, 2006).  4(iii)            Indenture (Filed as part of the Company's Current Report on                   Form 8-K filed on June 15, 2006)*  31                Rule 15d-14(a) Certification  99.1              Annual Statement of the Master Servicer  99.2              Report on Management's Assertion on Compliance with the                   Minimum Servicing Standards Set Forth in the Uniform Single                   Attestation Program for Mortgage Bankers.  99.3              Annual Statement of the Servicer  99.5              Trust Agreement (Filed as part of the Company's                   Current Report on Form 8-K filed on June 15, 2006)*             _____________  *        Incorporated herein by reference.                                          12    EX-31 2 efc6-1041_exhibit31.txt                                                                      Exhibit 31                                                                     ----------                                     CERTIFICATION                I, David A. Spector, certify that:               1. I have reviewed this annual report on Form 10-K, and all              reports on Form 8-K containing distribution and servicing reports              filed in respect of periods included in the year covered by this              annual report of, Aames Mortgage Investment Trust 2005-2, Series              2005-2;               2. Based on my knowledge, the information in these 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 master              servicer under the pooling and servicing, or similar, agreement,              for inclusion in these reports is included in these reports;               4. Based on my knowledge and upon the annual compliance statement              included in the report and required to be delivered to the              trustee in accordance with the terms of the pooling and              servicing, or similar, agreement, and except as disclosed in the              reports, the master servicer has fulfilled its obligations under              the servicing agreement; and               5. The reports disclose all significant deficiencies relating to              the master 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, or              similar, agreement, that is included in these reports.               In giving the certifications above, I have reasonably relied on              information provided to me by the following unaffiliated parties:              Wells Fargo Bank, N.A., as master servicer and Aames Capital              Corporation, as servicer.                Date: March 29, 2006                                                       /s/ David A. Spector                                                     --------------------                                                     David A. Spector                                                     Senior Managing Director     EX-99.1 3 efc6-1041_exhibit991.txt                                                                    Exhibit 99.1                                                                   ------------    - ----------- Wells Fargo                                             Corporate Trust Services - -----------                                             9062 Old Annapolis Road                                                         Columbia, MD 21045-1951                                                         410 8842000                                                         410 715-2380 Fax                                                          Wells Fargo Bank, N.A.   March 15, 2006   CWABS, Inc. 4500 Park Granada Calabasas, California 91302  RE: Annual Statement As To Compliance for AAMES 2005-2  Per Section 5.24a of the Transfer and Servicing Agreement, dated as of May 1, 2005 (the "Agreement") the undersigned Servicing Officer of Wells Fargo Bank, N.A. (the "Master Servicer") hereby certifies the following for the 2005 calendar year or portion thereof:  (i)    That such Servicing Officer has reviewed the activities of the Master        Servicer during the preceding calendar year or portion thereof and its        performance under the Agreement;  (ii)   That to the best of such Servicing Officer's knowledge, based on such        review, the Master Servicer has performed and fulfilled its duties,        responsibilities and obligations under the Agreement in all material        respects throughout such year.  (iii) That nothing has come to the attention of such Servicing Officer to lead       such Servicing Officer to believe that Aames Capital Corporation (the       "Servicer") has failed to perform any of its duties, responsibilities,       and obligations set forth in Article IV of the Agreement in all material       respects throughout such year.        And  (iv)  That the Master Servicer has received from the Servicer an annual       certificate of compliance and a copy of the Servicer's annual audit       report.   Certified By:                               Certified By: /s/ Barry Akers                             /s/ Kristen Cronin - ---------------------------                 --------------------------- Barry Akers, Vice President                 Kristen Cronin, Assistant Secretary    EX-99.2 4 efc6-1041_exhibit992.txt                                                                    Exhibit 99.2                                                                   ------------                          Report on Management's Assertion on        Compliance with the Minimum Servicing Standards Set Forth in the             Uniform Single Attestation Program for Mortgage Bankers                         Report of Independent Accountants  The Board of Directors Aames Investment Corporation  We have examined management's assertion, included in the accompanying report titled Report of Management, that Aames Investment Corporation (the Company) complied with the minimum servicing standards identified in Exhibit A to the Report of Management as set forth in the Mortgage Banker's Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) (the specified minimum servicing standards) during the year ended December 31, 2005. Management is responsible for the Company's compliance with those requirements. Our responsibility is to express an opinion on 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 those requirements 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 specified minimum servicing standards.  In our opinion, the Company complied, in all material respects, based on the criteria set forth in Exhibit A, with the aforementioned requirements for the year ended December 31, 2005.                                                                ERNST & YOUNG LLP   Los Angeles, California March 14, 2006       Aames          Aames Investment        350 S. Grand Avenue            Tel: 323.210.5000        Corporation             42nd Floor                                Los Angeles, CA 90071                        Management's Assertion on Compliance            with the Specified Minimum Servicing Standards Set Forth         in the Uniform Single Attestation Program for Mortgage Bankers                                Report of Management         We, as members of management of Aames Investment Corporation (the        Company), are responsible for complying with the minimum servicing        standards identified in the attached Exhibit A (the "specified minimum        servicing standards") as set forth in the Mortgage Bankers Association        of America's Uniform Single Attestation Program for Mortgage Bankers        (USAP). We are also responsible for establishing and maintaining        effective internal control over compliance with these specified minimum        servicing standards. We have performed an evaluation of the Company's        compliance with the specified minimum servicing standards as of        December 31, 2005 and for the year then ended. Based on this        evaluation, we assert that during the year ended December 31, 2005 the        Company complied, in all material respects, with the specified minimum        servicing standards.         As of December 31, 2005 and for the year then ended, the Company had n        effect a fidelity bond in the amount of $10 million and an errors and        omissions policy in the amount of $20 million.                                            /s/ A. Jay Meyerson                                           ------------------------                                           A. Jay Meyerson                                           Chief Executive Officer                                             /s/ Jon Van Deuren                                           --------------------------------------                                           Jon Van Deuren                                           Executive Vice President, Finance and                                           Chief Financial Officer                                             /s/ Mark A. Bragg                                           --------------------------------------                                           Mark A. Bragg                                           Senior Vice President                                           National Loan Servicing   March 14, 2006                                                                   [LOGO OMITTED]                                                                           Exhibit A                        Specified Minimum Servicing Standards  I.     Custodial Bank Accounts         1.  Reconciliations shall be prepared on a monthly basis for all            custodial bank accounts and related bank clearing accounts. These            reconciliations shall:             a.  be mathematically accurate;            b.  be prepared within forty-five (45) calendar days after the                cutoff date. The cutoff date is the date as of which a bank                account is reconciled every month. It may, or may not, coincide                with a prescribed investor reporting date but shall be                consistent from period to period;             c.  be reviewed and approved by someone other than the person who                prepared the reconciliation; and             d.  document explanations for reconciling items. These reconciling                items shall be resolved within ninety (90) calendar days of                their original identification.         2.  Funds of the servicing entity shall be advanced in cases where            there is an overdraft in an investor's or a mortgagor's account.         3.  Each custodial account shall be maintained at a federally insured            depository institution in trust for the applicable investor.         4.  Escrow funds held in trust for a mortgagor shall be returned to the            mortgagor within thirty (30) calendar days of payoff of the            mortgage loan.  II.    Mortgage Payments         1.  Mortgage payments shall be deposited into the custodial bank            accounts and related bank clearing accounts within two (2) business            days of receipt.         2.  Mortgage payments made in accordance with the mortgagor's loan            documents shall be posted to the applicable mortgagor records            within two (2) business days of receipt.         3.  Mortgage payments shall be allocated to principal, interest,            insurance, taxes or other escrow items in accordance with the            mortgagor's loan documents.         4.  Mortgage payments identified as loan payoffs shall be allocated in            accordance with the mortgagor's loan documents.                                         1                                       Exhibit A                 Specified Minimum Servicing Standards (continued)  III.   Disbursements         1.  Disbursements made via wire transfer on behalf of a mortgagor            or investor shall be made only by authorized personnel.         2.  Disbursements made on behalf of a mortgagor or investor shall            be posted within two (2) business days to the mortgagor's or            investor's records maintained by the servicing entity.         3.  Tax and insurance payments shall be made on or before the            penalty or insurance policy expiration dates, as indicated on            tax bills and insurance premium notices, respectively,            provided that such support has been received by the servicing            entity at least thirty (30) calendar days prior to these            dates.         4.  Any late payment penalties paid in conjunction with the            payment of any tax bill or insurance premium notice shall be            paid from the servicing entity's funds and not charged to the            mortgagor, unless the late payment was due to the mortgagor's            error or omission.         5.  Amounts remitted to investors per the servicer's investor            reports shall agree with cancelled checks, or other form of            payment, or custodial bank statements.         6.  Unissued checks shall be safeguarded so as to prevent            unauthorized access.  IV.    Investor Accounting and Reporting         1.  The servicing entity's investor reports shall agree with, or            reconcile to, investors' records on a monthly basis as to the            total unpaid principal balance and number of loans serviced            by the servicing entity.  V.     Mortgagor Loan Accounting         1.  The servicing entity's mortgage loan records shall agree            with, or reconcile to, the records of mortgagors with respect            to the unpaid principal balance on a monthly basis.         2.  Adjustments on adjustable rate mortgage (ARM) loans shall be            computed based on the related mortgage note and any ARM rider.         3.  Escrow accounts shall be analyzed, in accordance with the mortgagor's            loan documents, on at least an annual basis.                                         2                                       Exhibit A                 Specified Minimum Servicing Standards (continued)  V.     Mortgagor Loan Accounting (continued)         4.  Interest on escrow accounts shall be paid, or credited, to            mortgagors in accordance with the applicable state laws.  VI.    Delinquencies         1.  Records documenting collection efforts shall be maintained during            the period a loan is in default and shall be updated at least            monthly. Such records shall describe the entity's activities in            monitoring delinquent loans including, for example, phone calls,            letters and mortgage payment rescheduling plans in cases where the            delinquency is deemed temporary (i.e., illness or unemployment).  VII.   Insurance Policies         1.  A fidelity bond and errors and omissions policy shall be in effect            on the servicing entity throughout the reporting period in the            amount of coverage represented to investors in management's            assertion.                                         3    EX-99.3 5 efc6-1041_exhibit993.txt                                                                    Exhibit 99.3                                                                   ------------                        ANNUAL STATEMENT AS TO COMPLIANCE                     AAMES MORTGAGE INVESTMENT TRUST 2005-2    The undersigned, Mark A. Bragg, Director of Aames Capital Corporation (the "Servicer"), in its capacity as Servicer under that certain Transfer and Servicing Agreement dated as of May 1, 2005 (the "Agreement") does hereby certify for the year ended December 31, 2005:           (i)  a review of the activities of the Servicer for the year               ended December 31, 2005 and of its performance under the               Agreement has been made under my supervision, and           (ii) to the best of my knowledge, based on such review, the               Servicer has fulfilled all of its material obligations under               the Agreement throughout such year.  IN WITNESS WHEREOF, I have hereto signed my name as of this 23rd day of March, 2006.                                  /s/ Mark A. Bragg                                 ---------------------                                 Mark A. Bragg                                 Director, National Loan Servicing    -----END PRIVACY-ENHANCED MESSAGE-----