UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-K

[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

[ ]      Transition report pursuant to Section 13 or 15(d) of the
         Securities Exchange Act of 1934 for the transition period from   to


                        Commission File Number 333-120966-08

               CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
             (Exact name of registrant as specified in its charter)

         Delaware                                            13-3320910
 State or other jurisdiction of                           (I.R.S. Employer
incorporation or organization                            Identification No.)

11 Madison Ave.
New York, New York                                             10010
(Address of Principal Executive Offices)                      (Zip Code)

       Registrant's telephone number, including area code :(212)325-2000

                    HOME EQUITY MORTGAGE TRUST SERIES 2005-2
          HOME EQUITY MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2005-2
            (Title of each class of securities covered by this Form)


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. [X]

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 12-b-2 of the Exchange Act.

Large accelerated filer [ ]   Accelerated filer [ ]   Non-accelerated filer [X]

Indicate by check mark whether the  registrant is a shell company (as defined in
Exchange Act Rule 12b-2).    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.

Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of the latest practicable date.  Not Applicable.

Documents incorporated by reference:  None


<PAGE>


PART I

Item 1.  Business.

         Not Applicable.

Item 1A. Risk Factors.

         Not Applicable.

Item 1B. Unresolved Staff Comments.

         None.

Item 2.  Properties.

         Not Applicable.

Item 3.  Legal Proceedings.

         The Registrant is not aware of any material legal proceeding with
         respect to the Registrant, the Servicer, or the Trustee, in each case
         if applicable, as related to the Trust.

Item 4.  Submission of Matters to a Vote of Security Holders.

         No matter was submitted to a vote or consent of Holders of the Offered
         Certificates during the fiscal year covered by this report.

PART II

Item 5.  Market for Registrant's Common Equity,  Related Stockholder Matters
         and Issuer Purchases of Equity Securities.

         Currently,   there  is  no  established   secondary   market  for  the
         Certificates  known to the  Registrant.  As of December 31, 2005,  the
         number of holders of each class of offered  certificates  was 44 based
         on records provided by The Depository Trust Company.

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.

         There was no change of accountants or disagreement with accountants on
         any  matter  of  accounting   principles  or  practices  or  financial
         disclosure.

Item 9A. Controls and Procedures.

         Not Applicable.

Item 9B. Other Information.

         Not Applicable.

                                      -2-

<PAGE>

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.

         No reportable transactions have occurred.

Item 14. Principal Accounting Fees and Services.

         Not Applicable.

PART IV

Item 15. Exhibits, Financial Statement Schedules.

(a) The following documents are filed as part of this report:

    (1)  Financial Statements:

         Not Applicable.

    (2)  Financial Statement Schedules:

         Not Applicable.

    (3)  Exhibits:

         Rule 13a-14(a)/15d-14(a) Certification, filed as 31.1 hereto.

         Wilshire Credit Corporation, as Servicer
         Report of Independent Registered Public Accounting Firm with Management
          Assertion and Annual Servicer's Statement as to Compliance filed as
          Exhibit 99.1 hereto.

         IndyMac Bank, F.S.B., as Servicer
         Report of Independent Registered Public Accounting Firm with Management
          Assertion and Annual Servicer's Statement as to Compliance filed as
          Exhibit 99.2 hereto.

(b) Exhibits to this report are listed in Item (15)(a)(3)above.

(c) Not Applicable.


                                      -3-
<PAGE>


SIGNATURE

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.



By:        /s/  Bruce Kaiserman
           -----------------------------
Name:      Bruce Kaiserman

Title:     Vice President

Company:   CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

Date:      March 28, 2006





                                      -4-
<PAGE>

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.

The  registrant  has not sent an annual report or proxy material to its security
holders.  The registrant  will not be sending an annual report or proxy material
to its security holders subsequent to the filing of this form.

                                      -5-
<PAGE>



                                 EXHIBIT INDEX

Exhibit     Description

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

99.1    Wilshire Credit Corporation, as Servicer
        Report of Independent Registered Public Accounting Firm with
         Management Assertion and Annual Servicer's Statement as to Compliance

99.2    IndyMac Bank, F.S.B., as Servicer
        Report of Independent Registered Public Accounting Firm with
         Management Assertion and Annual Servicer's Statement as to Compliance

                                      -6-

<PAGE>
                                  EXHIBIT 31.1
                 Annual Rule 13a-14(a)/15d-14(a) Certification


I, Bruce Kaiserman, 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 Credit
     Suisse First Boston Mortgage  Securities  Corp., Home Equity Mortgage Trust
     2005-2, Home Equity Mortgage Pass-Through Certificates, 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  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 agreement, 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:  each  Servicer and the
Trustee.

By:        /s/  Bruce Kaiserman
           -----------------------------
Name:      Bruce Kaiserman

Title:     Vice President

Company:   CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

Date:      March 28, 2006

                                       -7-
<PAGE>


                                  EXHIBIT 99.1
                    Wilshire Credit Corporation, as Servicer
          Report of Independent Registered Public Accounting Firm with
                              Management Assertion
                  Annual Servicer's Statement as to Compliance
                       -----------------------------------

                                                Deloitte & Touche LLP
                                                Suite 3900
                                                111 SW Fifth Avenue
                                                Portland, OR  97204-3642
                                                USA
                                                Tel: +1 503 222 1341
                                                Fax: +1 503 224 2172
                                                www.deloitte.com


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors
Wilshire Credit Corporation:

We have examined  management's  assertion that Wilshire  Credit  Corporation,  a
wholly owned  subsidiary of Merrill Lynch  Mortgage  Capital Inc., a division of
Merrill  Lynch & Co., New York, NY (the  "Company"),  has complied as of and for
the year  ended  December  31,  2005,  with its  established  minimum  servicing
standards  described  in the  accompanying  Management's  Assertion  on  Minimum
Servicing  Standards dated February 27, 2006.  Management is responsible for the
Company's compliance with those minimum servicing standards.  Our responsibility
is  to  express  an  opinion  on  management's  assertion  about  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.

In our  opinion,  management's  assertion  that the  Company  complied  with the
aforementioned minimum servicing standards as of and for the year ended December
31, 2005 is fairly stated, in all material  respects,  based on the criteria set
forth in Appendix I.

By:  /s/ Deloitte & Touche LLP
--------------------------

February 27, 2006

                                      -8-

<page>
                                                                       Wilshire

                            MANAGEMENT'S ASSERTION ON
                           MINIMUM SERVICING STANDARDS


As of and for the year ended December 31, 2005, Wilshire Credit Corporation (the
"Company")  has  complied,   in  all  material  respects,   with  the  Company's
established  minimum servicing  standards for residential  mortgage loans as set
forth in Appendix I (the  "Standards").  The Standards are based on the Mortgage
Bankers Association of America's Uniform Single Attestation Program for Mortgage
Bankers.

As of and for this same period, the Company had in effect a fidelity bond in the
amount  of  $265,000,000  and an errors  and  omission  policy in the  amount of
$25,000,000.


By:  /s/ Jay Memmott
-------------------------------------------------
Jay Memmott, President and Chief Executive Officer
Wilshire Credit Corporation
Feb 27, 2006

By:  /s/ Russell Campbell
-------------------------------------------------
Russell Campbell, Chief Investment Officer
Wilshire Credit Corporation
Feb 27, 2006

By:  /s/ Ken Frye
-------------------------------------------------
Ken Frye, Senior Vice President
Wilshire Credit Corporation
Feb 27, 2006


                                                                     APPENDIX I

MINIMUM SERVICING STANDARDS AS SET FORTH IN THE MORTGAGE BANKERS
ASSOCIATION OF AMERICA'S UNIFORM SINGLE ATTESTATION PROGRAM FOR
MORTGAGE BANKERS

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

      .  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.

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

     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.

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.

                                      -9-
<page>


                                     Wilshire Credit Corporation
                                     Payments
                                     P.O. Box 30040, Los Angeles, CA 90030-0040
                                     or P.O. Box 650314, Dallas, TX  75265-0314
                                     Correspondence
                                     P.O. Box 8517, Portland, OR  97207-8517
                                     Phone
                                     (503) 952-7947
                                     (888) 502-0100
                                     Fax
                                     (503) 952-7476
                                     Web Site
                                     www.wfsg.com

March 3, 2006

JPMorgan Chase Bank
4 New York Plaza
6th Floor
New York, NY  10004
Attn: Raideo Ram

Credit Suisse
11 Madison Avenue
4th Floor
New York, NY  10010
Attn:  Bruce Kaiserman

Re:  Pooling and Servicing Agreements as Described on Exhibit A.

                    Annual Servicing Officer's Certification

I, Jay H.  Memmott,  certify  to the  Trustee  and to the  Depositor  and  their
officers, directors and affiliates, and with the intent that they will rely upon
this certification, that:

I.   A review of the  activities of the Servicer  during the preceding  calendar
     year and of its performance  under the referenced  Servicing  Agreement has
     been made under my Supervision; and

II.  To the  best  of my  knowledge,  based  on the  review,  the  Servicer  has
     materially  fulfilled all of its obligations under the Servicing Agreements
     throughout  the year except as disclosed in writing on or prior to the date
     of this certification  either in the accountants' report required under the
     related Agreements or in disclosure a copy of which is attached hereto.

WILSHIRE CREDIT CORPORATION

By: /s/ Jay H. Memmott
--------------------------------------
Name:  Jay H. Memmott
Title: Chairman, President, & CEO



JPMORGAN CHASE TRUSTEE - CREDIT SUISSE

Pool   Description    Verbiage

378    CSFB HEMT 2005-1  Pooling and Servicing  Agreement  dated as of
                         February 1, 2005,  between Credit Suisse First Boston
                         Mortgage  Securities Corp., Depositor,  DLJ Mortgage
                         Capital,  Inc.,  Seller,  Wilshire Credit  Corporation,
                         Servicer, and JP Morgan Chase Bank, Trustee, for the
                         HEMT Trust Series 2005-1

390    CSFB HEMT 2005-2  Pooling and Servicing  Agreement  dated as of
                         March 1, 2005,  between Credit Suisse First Boston
                         Mortgage  Securities Corp., Depositor,  DLJ Mortgage
                         Capital,  Inc.,  Seller,  Wilshire Credit  Corporation,
                         Servicer, IndyMac Bank, F.S.B., Servicer and JPMorgan
                         Chase Bank, N.A., Trustee, for the HEMT Trust
                         Series 2005-2

409    CSFB HEMT 2005-3  Pooling and Servicing  Agreement  dated as of
                         July 1, 2005,  between Credit Suisse First Boston
                         Mortgage  Securities Corp., Depositor,  DLJ Mortgage
                         Capital,  Inc.,  Seller,  Wilshire Credit  Corporation,
                         Servicer, Ocwen Loan Servicing LLC, Servicer, Select
                         Portfolio Servicing, Special Servicer, and  JPMorgan
                         Chase Bank, N.A., Trustee, for the HEMT Trust
                         Series 2005-3

423    CSFB HEMT 2005-4  Pooling and Servicing  Agreement  dated as of
                         September 1, 2005,  between Credit Suisse First Boston
                         Mortgage  Securities Corp., Depositor,  DLJ Mortgage
                         Capital,  Inc.,  Seller,  Wilshire Credit  Corporation,
                         Servicer, Ocwen Loan Servicing LLC., Servicer,
                         Indymac Bank, F.S.B., Servicer, Select Portfolio
                         Servicing, Special Servicer, and JPMorgan Chase Bank,
                         N.A., Trustee, for the HEMT Trust Series 2005-4

                                      -10-
<PAGE>

                                  EXHIBIT 99.2
                       IndyMac Bank, F.S.B., as Servicer
          Report of Independent Registered Public Accounting Firm with
                              Management Assertion
                  Annual Servicer's Statement as to Compliance
                       -----------------------------------

ERNST & YOUNG
                       Ernst & Young LLP                   Phone: (213) 977-3200
                       725 South Figueroa Street           www.ey.com
                       Los Angeles, California 90017-5418


                       Report on Management's Assertion on
   Compliance with the Specified Minimum Servicing Standards Set Forth in the
             Uniform Single Attestation Program for Mortgage Bankers

            Report of Independent Registered Public Accounting Firm


Board of Directors and Shareholder
IndyMac Bank, F.S.B.

We have examined  management's  assertion,  included in the accompanying  report
titled Report of Management,  that IndyMac Bank, F.S.B, (the Bank) complied with
the  servicing  standards  identified  in  Exhibit  A  (the  "specified  minimum
servicing  standards")  to the Report of Management as set forth in the Mortgage
Bankers Association of America's Uniform Single Attestation Program for Mortgage
Bankers  (USAP)  during  the  year  ended  December  31,  2005.   Management  is
responsible for the Bank's  compliance with these  specified  minimum  servicing
standards. Our responsibility is to express an opinion on management's assertion
about the Bank's compliance based on our examination.

Our  examination  was  made in  accordance  with  standards  established  by the
American  Institute of Certified Public Accountants and,  accordingly,  included
examining,  on a test  basis,  evidence  about the  Bank's  compliance  with the
specified 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  Bank's  compliance  with  the  specified  minimum
servicing standards.

In  our  opinion,  management's  assertion  that  the  Bank  complied  with  the
aforementioned  specified  minimum  servicing  standards  during  the year ended
December 31, 2005, is fairly stated, in all material respects.

By:  /s/ Ernst & Young LLP
---------------------------
February 21, 2006


                                      -11-

<page>


                                                                Indymac Bank

                      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 IndyMac Bank, F.S.B. (the Bank), are responsible
for complying with the 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 Bank'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 Bank complied,  in all material respects,  with the
specified minimum servicing standards.

As of December  31,  2005 and for the year then ended,  the Bank had in effect a
fidelity bond in the amount of $90,000,000 and an errors and omissions policy in
the amount of $20,000,000.


/s/ Michael W. Perry                    /s/ Tony Ebers
---------------------                   -----------------------------
Michael W. Perry                        Tony Ebers
Chairman and                            Executive Vice President and
Chief Executive Officer                 CEO Indymac Consumer Bank


/s/ Scott Keys                          /s/ J.K. Hoey
----------------------                  -----------------------------
Scott Keys                              J.K. Hoey
Executive Vice President and            Senior Vice President
Chief Financial Officer                 Home Loan Servicing


February 21, 2006

<page>

                                                                    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.

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.

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.


IndyMac



                              Officer's Certificate

The following shall certify,  to the best of my knowledge,  that (1) a review of
the  activities  of the  Servicer  during the  preceding  fiscal year under this
Agreement  has been made under the  supervision  of an officer of Indymac  Bank,
Inc., and that (2) Indymac Bank, Inc.  acting as Servicer,  has fulfilled all of
its obligations  under this Agreement for the period covered by the related Form
10-K Annual Report.


                                           By:  /s/ Robert M. Abramian
                                                ----------------------
                                                Robert M. Abramian
                                                First Vice President
                                                Home Loan Servicing
                                                Investor Reporting
                                                Indymac Bank


Prepared for:   JP Morgan Chase Bank

Date:           February 28, 2006

Ref:            The Servicing Agreement dated as of March 1, 2005, executed
                by IndyMac, F.S.B., as Servicer, and Credit Suisse First Boston,
                as Owner.

                CSFB HEMT 2005-2

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