Item 1. Business.
This Annual Report on Form 10-K (the Report) is filed with respect to GE-WMC Mortgage Securities Trust 2005-1 (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.
Item 2. Properties.
Not applicable.
Item 3.
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.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
PART II
Item 5.
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.
Item 6. Selected Financial Data.
Omitted pursuant to the No-Action Request.
Item 7.
Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operation.
Omitted pursuant to the No-Action Request.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures about Market Risk.
Not applicable.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Omitted pursuant to the No-Action Request.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
Item 9A
Item 9A and 9A(T). Controls and Procedures.
Omitted.
Item 9B.
Item 9B. Other Information
None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Omitted pursuant to the No-Action Request.
Item 11.
Item 11. Executive Compensation.
Omitted pursuant to the No-Action Request.
Item 12.
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.
Item 13. Certain Relationships and Related Transactions.
Nothing to report.
Item 14.
Item 14. Principal Accounting Fees and Services.
Omitted.
PART IV
Item 15.
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:
Remittance Report to Certificateholders dated October 25, 2006 Remittance Report to Certificateholders dated November 25, 2006 Remittance Report to Certificateholders dated December 25, 2006
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