UNITED STATES
                             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, 2005

      OR



  / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934


      Commission File Number:  333-112231-42


        Merrill Lynch Mortgage Investors, Inc.
        Mortgage Pass-Through Certificates
        Series 2005-1

     (Exact name of registrant as specified in its charter)


  New York                                          54-2173148
  (State or other jurisdiction of                   54-2173149
  incorporation or organization)                    (I.R.S. Employer
                                                    Identification No.)


   c/o Wells Fargo Bank, N.A.
   9062 Old Annapolis Road
   Columbia, MD                                21045
  (Address of principal executive offices)    (Zip Code)


  Registrant's telephone number, including area code: (410) 884-2000


  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 if the registrant is a well-known seasoned issuer,
  as defined in Rule 405 of the Securities Act.

        Yes  ___     No  X


  Indicate by check mark if 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 registrant's 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.

        Not applicable.


  Indicate by check mark whether the registrant is a large accelerated filer,
  an accelerated filer, or a non-accelerated filer. See Definition of
  "accelerated filer and large accelerated filer" in Rule 12b-2 of the
  Exchange Act. (Check One):


  Large Accelerated Filer ___  Accelerated Filer ___  Non-Accelerated Filer X


  Indicate by check mark whether the registrant is a shell company (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 registrant's most
  recently completed second fiscal quarter.

        Not applicable.


     Documents Incorporated by Reference

  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.

            Not applicable.


  Item 1A.  Risk Factors.

            Not applicable.


  Item 1B.  Unresolved Staff Comments.

            Not applicable.


  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 (the Trust), the Trustee, the Servicer or the
            registrant with respect to the Trust other than routine
            litigation 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 Registrant's Common Equity, Related Stockholder
           Matters and Issuer Purchases of Equity Securities.

            No established public trading market for the Certificates exists.

            Records provided to the Trust by the DTC and the Trustee
            indicate that as of December 31, 2005, the total number of holders
            of record for the Series of Certificates is 34.


  Item 6.  Selected Financial Data.

            Not applicable.

  Item 7.  Management's Discussion and Analysis of Financial Condition and
           Results of Operation.


            Not applicable.


  Item 7A. Quantitative and Qualitative Disclosures about Market Risk.

            Not applicable.


  Item 8.  Financial Statements and Supplementary Data.

            Not applicable.


  Item 9.  Changes in and Disagreements with Accountants on Accounting and
           Financial Disclosure.

            None.


  Item 9A. Controls and Procedures.
            Not applicable.


  Item 9B. Other Information.

            None.


                                PART III

  Item 10. Directors and Executive Officers of the Registrant.

            Not applicable.


  Item 11. Executive Compensation.

            Not applicable.

  Item 12. Security Ownership of Certain Beneficial Owners and Management
           and Related Stockholder Matters.

            Not applicable.

  Item 13. Certain Relationships and Related Transactions.

            Not applicable.


  Item 14. Principal Accounting Fees and Services.

            Not applicable.


                                PART IV

  Item 15. Exhibits, Financial Statement Schedules.

   (a) Exhibits

     (31.1) Rule 13a-14(a)/15d-14(a) Certification

     (99.1) Annual Independent Accountants' Servicing Reports concerning
            servicing activities.

      <TABLE>

      
         <c>
      a) PHH US MTG CORP, as Servicer <F1>

      </TABLE>

     (99.2) Report of Management as to Compliance with Minimum Servicing
            Standards.

      <TABLE>

      
        <c>
      a) PHH US MTG CORP, as Servicer <F1>

      </TABLE>

     (99.3) Annual Statements of Compliance under the Pooling and Servicing
            Agreements.

      <TABLE>

      
         <c>
      a) PHH US MTG CORP, as Servicer <F1>

      </TABLE>


   (b) Not applicable.

   (c) Omitted.


  <F1> Filed herewith.


                                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:



    Merrill Lynch Mortgage Investors, Inc.
    Mortgage Pass-Through Certificates
    Series 2005-1
    (Registrant)


  Signed: Merrill Lynch Mortgage Investors Inc. as Depositor

  By:     Matthew Whalen, President

  By: /s/ Matthew Whalen, President

  Dated: March 30, 2006


  Exhibit Index

  Exhibit No.

  Ex-31.1 Rule 13a-14(a)/15d-14(a) Certification

  I, Matthew Whalen, certify that:

  1. I have reviewed this annual report on Form 10-K, and all reports on
     Form 8-K containing distribution or servicing reports filed in
     respect of periods included in the year covered by this annual report,
     of Merrill Lynch Mortgage Investors, Inc. Mortgage Pass-Through
     Certificates, Series 2005-1 Trust;

  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 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 servicer has
     fulfilled its obligations under the servicing agreement; and

  5. The reports disclose all significant deficiencies relating to the
     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: PHH
     US MTG CORP as Servicer, Wells Fargo Bank, N.A. as Trustee.

     Date: March 30, 2006

     /s/ Matthew Whalen
     Signature

     President
     Title


  EX-99.1
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To PHH Mortgage Corporation:


We have examined PHH Mortgage Corporation's (the "Company") compliance with its
established minimum servicing standards described in the accompanying
Management's Assertion, dated February 28, 2006, as of and for the year ended
December 31, 2005. Management is responsible for compliance with those minimum
servicing standards. 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 as adopted
by the Public Company Accounting Oversight Board and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with its
minimum servicing standards 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 its minimum servicing
standards.

Our examination disclosed the following instance of material noncompliance with
the reconciliation of custodial bank accounts applicable to the Company during
the year ended December 31, 2005. The Company did not comply with the
requirement to prepare custodial bank account reconciliations within 45 calendar
days after the cutoff date and the requirement to resolve reconciling items
within 90 calendar days of their original identification as specified by their
minimum servicing standards.

In our opinion, except for the material noncompliance described in the preceding
paragraph, the Company complied, in all material respects, with the
aforementioned minimum servicing standards as of and for the year ended December
31, 2005, as set forth in Appendix I.

/s/ Deloitte & Touche LLP

Princeton, NJ

February 28, 2006


[PAGE]

PHH Mortgage

(logo) PHH

3000 Leadenhall Road
Mt. Laurel, NJ 08054



February 28, 2006

As of and for the year ended December 31, 2005, PHH Mortgage Corporation (the
"Company") has complied in all material respects with the minimum servicing
standards set forth in the Mortgage Bankers Association of America's Uniform
Single Attestation Program for Mortgage Bankers, except for as discussed below.

The Company completed all custodial bank account reconciliations within 60 days
of the cutoff date, however did not complete all reconciliations within 45 days
of the cutoff as specified by the minimum servicing standards. As such, the
Company has determined that it was materially non-compliant with the requirement
to prepare custodial bank account reconciliations within 45 calendar days after
the cutoff date.

During the year ended December 31, 2005, the Company determined it was
materially non-compliant with the requirement to resolve reconciling items
resulting from custodial bank account reconciliations within 90 calendar days as
specified by the minimum servicing standards.

As of and for this same period, the Company had in effect a fidelity bond and
errors and omissions policy in the amount of $160 million and $20 million,
respectively.


PHH Mortgage Coroporation

/s/ Terence Edwards
Terence W. Edwards
President and Chief Executive Officer


/s/ Mark Danahy
Mark Danahy
Senior Vice President and Chief Financial Officer


/s/ Martin Foster
Martin L. Foster
Senior Vice President - Loan Servicing


[PAGE]

APPENDIX I

PHH MORTGAGE CORPORATION - 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:
     * be mathematically accurate;
     * be prepared within forty-five (45) calendar days after the cutoff date;
     * be reviewed and approved by someone other than the person who prepared
     the Reconciliation; and
     * 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 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 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.

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 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.

[PAGE]

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.   Unused 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 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.

4.   Interest on escrow accounts shall be paid, or credited, to mortgagors in
     accordance with the applicable state laws.  (A compilation of state laws
     relating to the payment of interest on escrow accounts may be obtained
     through the MBA's FAX ON DEMAND service.  For more information, contact
     MBA.)

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
     (e.g., 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.





  EX-99.2
PHH Mortgage

(logo) PHH

3000 Leadenhall Road
Mt. Laurel, NJ 08054



February 28, 2006

As of and for the year ended December 31, 2005, PHH Mortgage Corporation (the
"Company") has complied in all material respects with the minimum servicing
standards set forth in the Mortgage Bankers Association of America's Uniform
Single Attestation Program for Mortgage Bankers, except for as discussed below.

The Company completed all custodial bank account reconciliations within 60 days
of the cutoff date, however did not complete all reconciliations within 45 days
of the cutoff as specified by the minimum servicing standards. As such, the
Company has determined that it was materially non-compliant with the requirement
to prepare custodial bank account reconciliations within 45 calendar days after
the cutoff date.

During the year ended December 31, 2005, the Company determined it was
materially non-compliant with the requirement to resolve reconciling items
resulting from custodial bank account reconciliations within 90 calendar days as
specified by the minimum servicing standards.

As of and for this same period, the Company had in effect a fidelity bond and
errors and omissions policy in the amount of $160 million and $20 million,
respectively.


PHH Mortgage Coroporation

/s/ Terence Edwards
Terence W. Edwards
President and Chief Executive Officer


/s/ Mark Danahy
Mark Danahy
Senior Vice President and Chief Financial Officer


/s/ Martin Foster
Martin L. Foster
Senior Vice President - Loan Servicing


[PAGE]

APPENDIX I

PHH MORTGAGE CORPORATION - 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:
     * be mathematically accurate;
     * be prepared within forty-five (45) calendar days after the cutoff date;
     * be reviewed and approved by someone other than the person who prepared
     the Reconciliation; and
     * 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 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 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.

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 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.

[PAGE]

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.   Unused 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 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.

4.   Interest on escrow accounts shall be paid, or credited, to mortgagors in
     accordance with the applicable state laws.  (A compilation of state laws
     relating to the payment of interest on escrow accounts may be obtained
     through the MBA's FAX ON DEMAND service.  For more information, contact
     MBA.)

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
     (e.g., 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.





  EX-99.3
PHH Mortgage

4001 Leadenhall Road
Mt. Laurel, NJ 08054



February 28, 2006

(logo)PHH

WELLS FARGO BANK NA
Compliance Department
9062 Old Annapolis Rd.
Columbia, MD 21045-1951


RE: Annual Statement as to Compliance

Investor number: 224-001 Deal name (if applicable): MLCC 2005-1


Dear Investor, Master Servicer or Trustee,

The undersigned officer certifies the following for PHH Mortgage Corp. f/k/a
Cendant Mortgage Corp., for the 2005 calendar year. To the best of our
knowledge:

a) The activities and performances of the Servicer during the preceding Fiscal
   year under the terms of the Servicing Agreement, Trust Agreement, Pooling
   and Servicing Agreement and/or Servicer Guide for the deal listed above,
   and to the best of my knowledge the Servicer has fulfilled all of its
   duties, responsibilities or obligations under this Agreement throughout
   such year, or if there has been default or failure of the Servicer to
   perform any such duties, responsibilities or obligations, a description of
   each default or failure and the nature and status thereof has been reported
   to WELLS FARGO BANK NA;

b) The Servicer is currently an approved FNMA or FHLMC Servicer in good
   standing;

c) The Fidelity Bond, the Errors and Omissions Insurance Policy
   and any other bonds required under the terms of the Servicing Agreement,
   Trust Agreement, Pooling and Servicing Agreement and/or Servicer Guide are
   in full force and effect;

d) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if
   applicable) and Primary Mortgage Insurance Policy (if applicable), with
   respect to each Mortgaged Property, have been paid and that such insurance
   policies are in full force and effect;

e) All real estate taxes, governmental assessments and any other expenses
   accrued and due, that if not paid could result in a lien or encumbrance on
   any Mortgage Property, have been paid, or if any such costs or expenses
   have been paid with respect to any Mortgaged Property, the reason for the
   non-payment has been reported to WELLS FARGO BANK NA;

f) All Custodial Accounts have been reconciled and are properly funded; and

g) All annual reports of Foreclosure and Abandonment of Mortgaged Property
   required per section 6050H, 6050J and 6050P of the Internal Revenue Code,
   respectively, have been prepared and filed.



Certified By
/s/ Jack Webb
Jack Webb
Assistant Vice President

Date: February 28, 2006