UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 27, 2005 (Date of earliest event reported) Asset Backed Funding Corporation (as Depositor under the Pooling and Servicing Agreement, dated as June 1, 2004, providing for the issuance of ABFC 2005-AQ1 Trust Asset-Backed Certificates, Series 2004-AQ1) (Exact name of registrant as specified in charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-121564-05 75-2533468 (Commission File Number) (I.R.S. Employer Identification No.) 214 North Tryon Street Charlotte, North Carolina 28255 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (704) 386-2400 (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01 Other Events Attached hereto is a copy of the Monthly Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 9.01 Financial Statements and Exhibits (c) Exhibits: Exhibit No. Description 99.1 Monthly Remittance Statement to the Certificateholders dated as of December 27, 2005. Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Deutsche Bank National Trust Company, in its capacity as Trustee under the Pooling and Servicing Agreement on behalf of Asset Backed Funding Corporation, Registrant Date: Dec 29, 2005 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT 99.1 Monthly Remittance Statement to the Certificateholders dated as of December 27, 2005. |
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
External Parties | Table of Contents | |||||||||||||||||||
Page | ||||||||||||||||||||
Seller | ||||||||||||||||||||
1. Certificate Payment Report | 2 | |||||||||||||||||||
Bank of America | ||||||||||||||||||||
2. Collection Account Report | 4 | |||||||||||||||||||
3. Credit Enhancement Report | 6 | |||||||||||||||||||
4. Collateral Report | 7 | |||||||||||||||||||
Certificate Insurer(s) | 5. Delinquency Report | 10 | ||||||||||||||||||
6. REO Report | 11 | |||||||||||||||||||
7. Foreclosure Report | 12 | |||||||||||||||||||
8. Prepayment Report | 13 | |||||||||||||||||||
9. Prepayment Detail Report | 16 | |||||||||||||||||||
10. Realized Loss Report | 19 | |||||||||||||||||||
11. Realized Loss Detail Report | 22 | |||||||||||||||||||
Servicer(s) | ||||||||||||||||||||
12. Triggers and Adj. Cert. Report | 23 | |||||||||||||||||||
Ameriquest Mortgage Corp | ||||||||||||||||||||
13. Additional Certificate Report | 24 | |||||||||||||||||||
Underwriter(s) | ||||||||||||||||||||
Banc of America Securities LLC | ||||||||||||||||||||
Total Number of Pages | 24 | |||||||||||||||||||
Dates | Contacts | |||||||||||||||||||
Cut-Off Date: | June 01, 2005 | Hang Luu | ||||||||||||||||||
Close Date: | June 07, 2005 | Administrator | ||||||||||||||||||
First Distribution Date: | July 25, 2005 | (714) 247-6000 | ||||||||||||||||||
hang-thai.luu@db.com | ||||||||||||||||||||
Address: | ||||||||||||||||||||
1761 East St. Andrew Place, Santa Ana, CA 92705 | ||||||||||||||||||||
Distribution Date: | December 27, 2005 | |||||||||||||||||||
Factor Information: | (800) 735-7777 | |||||||||||||||||||
Record Date: | November 30, 2005 | |||||||||||||||||||
Main Phone Number: | (714) 247-6000 | |||||||||||||||||||
December 23, 2005 | ||||||||||||||||||||
https://www.tss.db.com/invr | ||||||||||||||||||||
Page 1 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Certificate Payment Report | ||||||||||||||||||||
Current Period Distribution - REMIC II | ||||||||||||||||||||
Prior | Current | |||||||||||||||||||
Class | Original | Principal | Total | Realized | Deferred | Principal | ||||||||||||||
Class | Type | Cur | Face Value | Balance | Interest | Principal | Distribution | Loss | Interest | Balance | ||||||||||
(1) | (2) | (3) | (4)=(2)+(3) | (5) | (6) | (7)=(1)-(3)-(5)+(6) | ||||||||||||||
A-1A | SR | $ | 103,638,000.00 | 73,360,895.38 | 281,298.28 | 7,618,275.02 | 7,899,573.30 | 0.00 | 0.00 | 65,742,620.36 | ||||||||||
A-1B | SR | $ | 100,000,000.00 | 70,785,711.21 | 250,699.39 | 7,350,851.05 | 7,601,550.44 | 0.00 | 0.00 | 63,434,860.16 | ||||||||||
A-2 | SR | $ | 206,669,000.00 | 206,669,000.00 | 740,563.92 | 0.00 | 740,563.92 | 0.00 | 0.00 | 206,669,000.00 | ||||||||||
A-3 | SR | $ | 42,406,000.00 | 42,406,000.00 | 156,195.43 | 0.00 | 156,195.43 | 0.00 | 0.00 | 42,406,000.00 | ||||||||||
A-4 | SR | $ | 165,805,000.00 | 165,805,000.00 | 692,235.88 | 0.00 | 692,235.88 | 0.00 | 0.00 | 165,805,000.00 | ||||||||||
A-5 | SR | $ | 52,291,000.00 | 52,291,000.00 | 231,823.43 | 0.00 | 231,823.43 | 0.00 | 0.00 | 52,291,000.00 | ||||||||||
A-6 | SR | $ | 74,534,000.00 | 74,534,000.00 | 296,893.77 | 0.00 | 296,893.77 | 0.00 | 0.00 | 74,534,000.00 | ||||||||||
M-1 | SUB | $ | 36,818,000.00 | 36,818,000.00 | 160,771.93 | 0.00 | 160,771.93 | 0.00 | 0.00 | 36,818,000.00 | ||||||||||
M-2 | SUB | $ | 13,499,000.00 | 13,499,000.00 | 61,195.47 | 0.00 | 61,195.47 | 0.00 | 0.00 | 13,499,000.00 | ||||||||||
M-3 | SUB | $ | 3,273,000.00 | 3,273,000.00 | 15,655.85 | 0.00 | 15,655.85 | 0.00 | 0.00 | 3,273,000.00 | ||||||||||
M-4 | SUB | $ | 2,863,000.00 | 2,863,000.00 | 13,718.54 | 0.00 | 13,718.54 | 0.00 | 0.00 | 2,863,000.00 | ||||||||||
M-5 | SUB | $ | 2,864,000.00 | 2,864,000.00 | 13,723.33 | 0.00 | 13,723.33 | 0.00 | 0.00 | 2,864,000.00 | ||||||||||
M-6 | SUB | $ | 3,273,000.00 | 3,273,000.00 | 15,683.13 | 0.00 | 15,683.13 | 0.00 | 0.00 | 3,273,000.00 | ||||||||||
B-1 | SUB/NOF | $ | 3,272,000.00 | 3,272,000.00 | 15,678.33 | 0.00 | 15,678.33 | 0.00 | 0.00 | 3,272,000.00 | ||||||||||
B-2 | SUB/NOF | $ | 3,682,000.00 | 3,682,000.00 | 17,642.92 | 0.00 | 17,642.92 | 0.00 | 0.00 | 3,682,000.00 | ||||||||||
CE | SEQ/NOF | $ | 3,273,065.83 | 3,272,640.66 | 1,060,628.61 | 0.00 | 1,060,628.61 | 0.00 | 0.00 | 3,272,640.66 | ||||||||||
P | SEQ/NOF | $ | 100.00 | 100.00 | 290,976.92 | 0.00 | 290,976.92 | 0.00 | 0.00 | 100.00 | ||||||||||
R | RES/NPR | $ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||
Total | 818,160,165.83 | 758,668,347.25 | 4,315,385.13 | 14,969,126.07 | 19,284,511.20 | 0.00 | 0.00 | 743,699,221.18 | ||||||||||||
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face- | ||||||||||||||||||||
Orig. Principal | Prior | Current | ||||||||||||||||||
Period | Period | (with Notional) | Principal | Total | Principal | |||||||||||||||
Class | Starting | Ending | Method | Cusip | Balance | Balance | Interest | Principal | Distribution | Balance | ||||||||||
(1) | (1) | (2) | (3) | (4)=(2)+(3) | (5) | |||||||||||||||
A-1A | 11/25/05 | 12/26/05 | A-Act/360 | 04542BMP4 | 103,638,000.00 | 707.857112 | 2.714239 | 73.508511 | 76.222749 | 634.348601 | ||||||||||
A-1B | 11/01/05 | 11/30/05 | F-30/360 | 04542BNB4 | 100,000,000.00 | 707.857112 | 2.506994 | 73.508511 | 76.015504 | 634.348602 | ||||||||||
A-2 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMQ2 | 206,669,000.00 | 1,000.000000 | 3.583333 | 0.000000 | 3.583333 | 1,000.000000 | ||||||||||
A-3 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMR0 | 42,406,000.00 | 1,000.000000 | 3.683333 | 0.000000 | 3.683333 | 1,000.000000 | ||||||||||
A-4 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMS8 | 165,805,000.00 | 1,000.000000 | 4.175000 | 0.000000 | 4.175000 | 1,000.000000 | ||||||||||
A-5 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMT6 | 52,291,000.00 | 1,000.000000 | 4.433333 | 0.000000 | 4.433333 | 1,000.000000 | ||||||||||
A-6 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMU3 | 74,534,000.00 | 1,000.000000 | 3.983333 | 0.000000 | 3.983333 | 1,000.000000 | ||||||||||
M-1 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMV1 | 36,818,000.00 | 1,000.000000 | 4.366667 | 0.000000 | 4.366667 | 1,000.000000 | ||||||||||
M-2 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMW9 | 13,499,000.00 | 1,000.000000 | 4.533334 | 0.000000 | 4.533334 | 1,000.000000 | ||||||||||
M-3 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMX7 | 3,273,000.00 | 1,000.000000 | 4.783333 | 0.000000 | 4.783333 | 1,000.000000 | ||||||||||
M-4 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMY5 | 2,863,000.00 | 1,000.000000 | 4.791666 | 0.000000 | 4.791666 | 1,000.000000 | ||||||||||
M-5 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMZ2 | 2,864,000.00 | 1,000.000000 | 4.791666 | 0.000000 | 4.791666 | 1,000.000000 | ||||||||||
M-6 | 11/01/05 | 11/30/05 | F-30/360 | 04542BNA6 | 3,273,000.00 | 1,000.000000 | 4.791668 | 0.000000 | 4.791668 | 1,000.000000 | ||||||||||
B-1 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMM1 | 3,272,000.00 | 1,000.000000 | 4.791666 | 0.000000 | 4.791666 | 1,000.000000 | ||||||||||
B-2 | 11/01/05 | 11/30/05 | F-30/360 | 04542BMN9 | 3,682,000.00 | 1,000.000000 | 4.791668 | 0.000000 | 4.791668 | 1,000.000000 | ||||||||||
CE | 11/01/05 | 11/30/05 | F-30/360 | 3,273,065.83 | 999.870100 | 324.047442 | 0.000000 | 324.047442 | 999.870100 | |||||||||||
P | 11/01/05 | 11/30/05 | F-30/360 | 100.00 | 1,000.000000 | 2,909,769.200000 | 0.000000 | 2,909,769.200000 | 1,000.000000 | |||||||||||
R | 11/01/05 | 11/30/05 | F-30/360 | 0.00 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | |||||||||||
Page 2 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Distribution to Date - REMIC II | ||||||||||||||||||||
Current | ||||||||||||||||||||
Original | Unscheduled | Scheduled | Total | Total | Realized | Deferred | Principal | |||||||||||||
Class | Face Value | Interest | Principal | Principal | Principal | Distribution | Loss | Interest | Balance | |||||||||||
(1) | (2) | (3) | (4) | (5)=(3)+(4) | (6)=(2)+(5) | (7) | (8) | (9)=(1)-(5)-(7)+(8) | ||||||||||||
A-1A | 103,638,000.00 | 1,930,530.71 | 35,085,653.06 | 2,809,726.58 | 37,895,379.64 | 39,825,910.35 | 0.00 | 0.00 | 65,742,620.36 | |||||||||||
A-1B | 100,000,000.00 | 1,848,698.78 | 33,854,042.97 | 2,711,096.87 | 36,565,139.84 | 38,413,838.62 | 0.00 | 0.00 | 63,434,860.16 | |||||||||||
A-2 | 206,669,000.00 | 4,443,383.52 | 0.00 | 0.00 | 0.00 | 4,443,383.52 | 0.00 | 0.00 | 206,669,000.00 | |||||||||||
A-3 | 42,406,000.00 | 937,172.58 | 0.00 | 0.00 | 0.00 | 937,172.58 | 0.00 | 0.00 | 42,406,000.00 | |||||||||||
A-4 | 165,805,000.00 | 4,153,415.28 | 0.00 | 0.00 | 0.00 | 4,153,415.28 | 0.00 | 0.00 | 165,805,000.00 | |||||||||||
A-5 | 52,291,000.00 | 1,390,940.58 | 0.00 | 0.00 | 0.00 | 1,390,940.58 | 0.00 | 0.00 | 52,291,000.00 | |||||||||||
A-6 | 74,534,000.00 | 1,781,362.62 | 0.00 | 0.00 | 0.00 | 1,781,362.62 | 0.00 | 0.00 | 74,534,000.00 | |||||||||||
M-1 | 36,818,000.00 | 964,631.58 | 0.00 | 0.00 | 0.00 | 964,631.58 | 0.00 | 0.00 | 36,818,000.00 | |||||||||||
M-2 | 13,499,000.00 | 367,172.82 | 0.00 | 0.00 | 0.00 | 367,172.82 | 0.00 | 0.00 | 13,499,000.00 | |||||||||||
M-3 | 3,273,000.00 | 93,935.10 | 0.00 | 0.00 | 0.00 | 93,935.10 | 0.00 | 0.00 | 3,273,000.00 | |||||||||||
M-4 | 2,863,000.00 | 82,311.24 | 0.00 | 0.00 | 0.00 | 82,311.24 | 0.00 | 0.00 | 2,863,000.00 | |||||||||||
M-5 | 2,864,000.00 | 82,339.98 | 0.00 | 0.00 | 0.00 | 82,339.98 | 0.00 | 0.00 | 2,864,000.00 | |||||||||||
M-6 | 3,273,000.00 | 94,098.78 | 0.00 | 0.00 | 0.00 | 94,098.78 | 0.00 | 0.00 | 3,273,000.00 | |||||||||||
B-1 | 3,272,000.00 | 94,069.98 | 0.00 | 0.00 | 0.00 | 94,069.98 | 0.00 | 0.00 | 3,272,000.00 | |||||||||||
B-2 | 3,682,000.00 | 105,857.52 | 0.00 | 0.00 | 0.00 | 105,857.52 | 0.00 | 0.00 | 3,682,000.00 | |||||||||||
CE | 3,273,065.83 | 6,923,487.07 | 376.15 | 49.02 | 425.17 | 6,923,912.24 | 0.00 | 0.00 | 3,272,640.66 | |||||||||||
P | 100.00 | 1,195,318.06 | 0.00 | 0.00 | 0.00 | 1,195,318.06 | 0.00 | 0.00 | 100.00 | |||||||||||
R | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
Total | 818,160,165.83 | 26,488,726.20 | 68,940,072.18 | 5,520,872.47 | 74,460,944.65 | 100,949,670.85 | 0.00 | 0.00 | 743,699,221.18 | |||||||||||
Interest Detail - REMIC II | ||||||||||||||||||||
Pass | Prior Principal | Non- | Prior | Unscheduled | Paid or | Current | ||||||||||||||
Through | (with Notional) | Accrued | Supported | Unpaid | Interest | Optimal | Deferred | Unpaid | ||||||||||||
Class | Rate | Balance | Interest | Interest SF | Interest | Adjustment | Interest | Interest | Interest | |||||||||||
(1) | (2) | (3) | (4) | (5)=(1)-(2)+(3)+(4) | (6) | (7)=(5)-(6) | ||||||||||||||
A-1A | 4.31375% | 73,360,895.38 | 281,298.28 | 0.00 | 0.00 | 0.00 | 281,298.28 | 281,298.28 | 0.00 | |||||||||||
A-1B | 4.25000% | 70,785,711.21 | 250,699.39 | 0.00 | 0.00 | 0.00 | 250,699.39 | 250,699.39 | 0.00 | |||||||||||
A-2 | 4.30000% | 206,669,000.00 | 740,563.92 | 0.00 | 0.00 | 0.00 | 740,563.92 | 740,563.92 | 0.00 | |||||||||||
A-3 | 4.42000% | 42,406,000.00 | 156,195.43 | 0.00 | 0.00 | 0.00 | 156,195.43 | 156,195.43 | 0.00 | |||||||||||
A-4 | 5.01000% | 165,805,000.00 | 692,235.88 | 0.00 | 0.00 | 0.00 | 692,235.88 | 692,235.88 | 0.00 | |||||||||||
A-5 | 5.32000% | 52,291,000.00 | 231,823.43 | 0.00 | 0.00 | 0.00 | 231,823.43 | 231,823.43 | 0.00 | |||||||||||
A-6 | 4.78000% | 74,534,000.00 | 296,893.77 | 0.00 | 0.00 | 0.00 | 296,893.77 | 296,893.77 | 0.00 | |||||||||||
M-1 | 5.24000% | 36,818,000.00 | 160,771.93 | 0.00 | 0.00 | 0.00 | 160,771.93 | 160,771.93 | 0.00 | |||||||||||
M-2 | 5.44000% | 13,499,000.00 | 61,195.47 | 0.00 | 0.00 | 0.00 | 61,195.47 | 61,195.47 | 0.00 | |||||||||||
M-3 | 5.74000% | 3,273,000.00 | 15,655.85 | 0.00 | 0.00 | 0.00 | 15,655.85 | 15,655.85 | 0.00 | |||||||||||
M-4 | 5.75000% | 2,863,000.00 | 13,718.54 | 0.00 | 0.00 | 0.00 | 13,718.54 | 13,718.54 | 0.00 | |||||||||||
M-5 | 5.75000% | 2,864,000.00 | 13,723.33 | 0.00 | 0.00 | 0.00 | 13,723.33 | 13,723.33 | 0.00 | |||||||||||
M-6 | 5.75000% | 3,273,000.00 | 15,683.13 | 0.00 | 0.00 | 0.00 | 15,683.13 | 15,683.13 | 0.00 | |||||||||||
B-1 | 5.75000% | 3,272,000.00 | 15,678.33 | 0.00 | 0.00 | 0.00 | 15,678.33 | 15,678.33 | 0.00 | |||||||||||
B-2 | 5.75000% | 3,682,000.00 | 17,642.92 | 0.00 | 0.00 | 0.00 | 17,642.92 | 17,642.92 | 0.00 | |||||||||||
CE | 0.00000% | 3,272,640.66 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,060,628.61 | 0.00 | |||||||||||
P | 0.00000% | 100.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 290,976.92 | 0.00 | |||||||||||
R | 0.00000% | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
Total | 758,668,347.25 | 2,963,779.60 | 0.00 | 0.00 | 0.00 | 2,963,779.60 | 4,315,385.13 | 0.00 | ||||||||||||
Page 3 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Collection Account Report | ||||||||||||||||||||
SUMMARY | ||||||||||||||||||||
Total | ||||||||||||||||||||
Principal Collections | 14,962,380.23 | |||||||||||||||||||
Principal Withrawals | 0.00 | |||||||||||||||||||
Principal Other Accounts | 0.00 | |||||||||||||||||||
TOTAL NET PRINCIPAL | 14,962,380.23 | |||||||||||||||||||
Interest Collections | 4,242,312.38 | |||||||||||||||||||
Interest Withdrawals | -0.00 | |||||||||||||||||||
Interest Other Accounts | 290,976.92 | |||||||||||||||||||
Interest Fees | -211,158.33 | |||||||||||||||||||
TOTAL NET INTEREST | 4,322,130.97 | |||||||||||||||||||
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION | 19,284,511.20 | |||||||||||||||||||
PRINCIPAL - COLLECTIONS | ||||||||||||||||||||
Total | ||||||||||||||||||||
Scheduled Principal Received | 900,735.88 | |||||||||||||||||||
Curtailments | 81,498.29 | |||||||||||||||||||
Prepayments In Full | 13,874,562.86 | |||||||||||||||||||
Repurchased/Substitutions | 0.00 | |||||||||||||||||||
Liquidations | 112,329.04 | |||||||||||||||||||
Other Additional Principal | 0.00 | |||||||||||||||||||
Delinquent Principal | -298,275.11 | |||||||||||||||||||
Realized Losses | -6,745.84 | |||||||||||||||||||
Advanced Principal | 298,275.11 | |||||||||||||||||||
TOTAL PRINCIPAL COLLECTED | 14,962,380.23 | |||||||||||||||||||
PRINCIPAL - WITHDRAWALS | ||||||||||||||||||||
SPACE INTENTIONALLY LEFT BLANK | ||||||||||||||||||||
PRINCIPAL - OTHER ACCOUNTS | ||||||||||||||||||||
Total | ||||||||||||||||||||
TOTAL PRINCIPAL OTHER ACCOUNTS | 0.00 | |||||||||||||||||||
Page 4 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
INTEREST - COLLECTIONS | ||||||||||||||||||||
Total | ||||||||||||||||||||
Scheduled Interest | 4,348,186.49 | |||||||||||||||||||
Repurchased/Substitution Interest | 0.00 | |||||||||||||||||||
Liquidation Interest | 659.93 | |||||||||||||||||||
Other Additional Interest | 0.00 | |||||||||||||||||||
Prepayment Interest Shortfalls | -10,803.82 | |||||||||||||||||||
Delinquent Interest | -1,487,631.79 | |||||||||||||||||||
Compensating Interest | 10,803.82 | |||||||||||||||||||
Civil Relief Act Shortfalls | -0.00 | |||||||||||||||||||
Interest Advanced | 1,381,097.75 | |||||||||||||||||||
TOTAL INTEREST COLLECTED | 4,242,312.38 | |||||||||||||||||||
INTEREST - WITHDRAWALS | ||||||||||||||||||||
Total | ||||||||||||||||||||
TOTAL INTEREST WITHDRAWALS | 0.00 | |||||||||||||||||||
INTEREST - OTHER ACCOUNTS | ||||||||||||||||||||
Total | ||||||||||||||||||||
Prepayment Charges | 290,976.92 | |||||||||||||||||||
TOTAL INTEREST OTHER ACCOUNTS | 290,976.92 | |||||||||||||||||||
INTEREST - FEES | ||||||||||||||||||||
Total | ||||||||||||||||||||
Current Servicing Fees | 209,577.77 | |||||||||||||||||||
Trustee FEES | 1,580.56 | |||||||||||||||||||
TOTAL INTEREST FEES | 211,158.33 | |||||||||||||||||||
Page 5 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Credit Enhancement Report | ||||||||||||||||||||
ACCOUNTS | ||||||||||||||||||||
SPACE INTENTIONALLY LEFT BLANK | ||||||||||||||||||||
INSURANCE | ||||||||||||||||||||
SPACE INTENTIONALLY LEFT BLANK | ||||||||||||||||||||
STRUCTURAL FEATURES | ||||||||||||||||||||
Total | ||||||||||||||||||||
Overcollateralization Amount | 3,272,640.66 | |||||||||||||||||||
Overcollateralization Target Amount | 3,272,640.66 | |||||||||||||||||||
Overcollateralization Deficiency Amount | 6,745.84 | |||||||||||||||||||
Overcollateralization Release Amount | 0.00 | |||||||||||||||||||
Page 6 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Collateral Report | ||||||||||||||||||||
COLLATERAL | ||||||||||||||||||||
Total | ||||||||||||||||||||
Loan Count: | ||||||||||||||||||||
Original | 4,813 | |||||||||||||||||||
Prior | 4,496 | |||||||||||||||||||
Prefunding | 0 | |||||||||||||||||||
Scheduled Paid Offs | -0 | |||||||||||||||||||
Full Voluntary Prepayments | -85 | |||||||||||||||||||
Repurchases | -0 | |||||||||||||||||||
Liquidations | -1 | |||||||||||||||||||
Current | 4,410 | |||||||||||||||||||
Principal Balance: | ||||||||||||||||||||
Original | 818,160,165.83 | |||||||||||||||||||
Prior | 758,668,347.25 | |||||||||||||||||||
Prefunding | 0.00 | |||||||||||||||||||
Scheduled Principal | -900,735.88 | |||||||||||||||||||
Partial Prepayments | -81,498.29 | |||||||||||||||||||
Full Voluntary Prepayments | -13,874,562.86 | |||||||||||||||||||
Repurchases | -0.00 | |||||||||||||||||||
Liquidations | -112,329.04 | |||||||||||||||||||
Current | 743,699,221.18 | |||||||||||||||||||
PREFUNDING | ||||||||||||||||||||
SPACE INTENTIONALLY LEFT BLANK | ||||||||||||||||||||
Page 7 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
CHARACTERISTICS | ||||||||||||||||||||
Total | ||||||||||||||||||||
Weighted Average Coupon Original | 6.90623% | |||||||||||||||||||
Weighted Average Coupon Prior | 6.88734% | |||||||||||||||||||
Weighted Average Coupon Current | 6.87865% | |||||||||||||||||||
Weighted Average Months to Maturity Original | 333 | |||||||||||||||||||
Weighted Average Months to Maturity Prior | 328 | |||||||||||||||||||
Weighted Average Months to Maturity Current | 327 | |||||||||||||||||||
Weighted Avg Remaining Amortization Term Original | 333 | |||||||||||||||||||
Weighted Avg Remaining Amortization Term Prior | 328 | |||||||||||||||||||
Weighted Avg Remaining Amortization Term Current | 327 | |||||||||||||||||||
Weighted Average Seasoning Original | 3.55 | |||||||||||||||||||
Weighted Average Seasoning Prior | 7.54 | |||||||||||||||||||
Weighted Average Seasoning Current | 8.54 | |||||||||||||||||||
Page 8 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
ARM CHARACTERISTICS | ||||||||||||||||||||
Total | ||||||||||||||||||||
Weighted Average Margin Original | 0.00000% | |||||||||||||||||||
Weighted Average Margin Prior | 0.00000% | |||||||||||||||||||
Weighted Average Margin Current | 0.00000% | |||||||||||||||||||
Weighted Average Max Rate Original | 0.00000% | |||||||||||||||||||
Weighted Average Max Rate Prior | 0.00000% | |||||||||||||||||||
Weighted Average Max Rate Current | 0.00000% | |||||||||||||||||||
Weighted Average Min Rate Original | 0.00000% | |||||||||||||||||||
Weighted Average Min Rate Prior | 0.00000% | |||||||||||||||||||
Weighted Average Min Rate Current | 0.00000% | |||||||||||||||||||
Weighted Average Cap Up Original | 0.00000% | |||||||||||||||||||
Weighted Average Cap Up Prior | 0.00000% | |||||||||||||||||||
Weighted Average Cap Up Current | 0.00000% | |||||||||||||||||||
Weighted Average Cap Down Original | 0.00000% | |||||||||||||||||||
Weighted Average Cap Down Prior | 0.00000% | |||||||||||||||||||
Weighted Average Cap Down Current | 0.00000% | |||||||||||||||||||
SERVICING FEES & ADVANCES | ||||||||||||||||||||
Total | ||||||||||||||||||||
Current Servicing Fees | 209,577.77 | |||||||||||||||||||
Delinquent Servicing Fees | 106,534.04 | |||||||||||||||||||
TOTAL SERVICING FEES | 316,111.82 | |||||||||||||||||||
Servicing Fees | 316,111.82 | |||||||||||||||||||
Compensating Interest | -10,803.82 | |||||||||||||||||||
Delinquent Servicing Fees | -106,534.04 | |||||||||||||||||||
COLLECTED SERVICING FEES | 198,773.96 | |||||||||||||||||||
Total Advanced Interest | 1,381,097.75 | |||||||||||||||||||
Total Advanced Principal | 298,275.11 | |||||||||||||||||||
Aggregate Advances with respect to this Distribution | 0.00 | |||||||||||||||||||
ADDITIONAL COLLATERAL INFORMATION | ||||||||||||||||||||
Total | ||||||||||||||||||||
Prepayment Interest Shortfall (PPIS) | 10,803.82 | |||||||||||||||||||
Compensating Interest | -10,803.82 | |||||||||||||||||||
Net Prepayment Interest Shortfall (PPIS) | 0.00 | |||||||||||||||||||
Libor For Current Period | 4.1938% | |||||||||||||||||||
Libor For Next Period | 4.3788% | |||||||||||||||||||
Page 9 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Delinquency Report | ||||||||||||||||||||
TOTAL | ||||||||||||||||||||
< 1 PAYMENT | 1 PAYMENT | 2 PAYMENTS | 3+ PAYMENTS | TOTAL | ||||||||||||||||
DELINQUENT | Balance | 3,153,590.63 | 2,596,920.16 | 650,551.43 | 6,401,062.22 | |||||||||||||||
% Balance | 0.42% | 0.35% | 0.09% | 0.86% | ||||||||||||||||
# Loans | 23 | 22 | 6 | 51 | ||||||||||||||||
% # Loans | 0.52% | 0.50% | 0.14% | 1.16% | ||||||||||||||||
FORECLOSURE | Balance | 0.00 | 0.00 | 0.00 | 420,572.70 | 420,572.70 | ||||||||||||||
% Balance | 0.00% | 0.00% | 0.00% | 0.06% | 0.06% | |||||||||||||||
# Loans | 0 | 0 | 0 | 3 | 3 | |||||||||||||||
% # Loans | 0.00% | 0.00% | 0.00% | 0.07% | 0.07% | |||||||||||||||
BANKRUPTCY | Balance | 1,117,677.23 | 0.00 | 0.00 | 98,371.40 | 1,216,048.63 | ||||||||||||||
% Balance | 0.15% | 0.00% | 0.00% | 0.01% | 0.16% | |||||||||||||||
# Loans | 7 | 0 | 0 | 1 | 8 | |||||||||||||||
% # Loans | 0.16% | 0.00% | 0.00% | 0.02% | 0.18% | |||||||||||||||
REO | Balance | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||
% Balance | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |||||||||||||||
# Loans | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
% # Loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |||||||||||||||
TOTAL | Balance | 1,117,677.23 | 3,153,590.63 | 2,596,920.16 | 1,169,495.53 | 8,037,683.55 | ||||||||||||||
% Balance | 0.15% | 0.42% | 0.35% | 0.16% | 1.08% | |||||||||||||||
# Loans | 7 | 23 | 22 | 10 | 62 | |||||||||||||||
% # Loans | 0.16% | 0.52% | 0.50% | 0.23% | 1.41% | |||||||||||||||
Page 10 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
REO Report | ||||||||||||||||||||
Loan Number | Original | Stated | Current | State & | ||||||||||||||||
First | ||||||||||||||||||||
& | Principal | Principal | Paid to | Note | LTV at | Original | Payment | |||||||||||||
Loan Group | Balance | Balance | Date | Rate | Origination | Term | Date | |||||||||||||
TOTAL | ||||||||||||||||||||
Page 11 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Foreclosure Report | ||||||||||||||||||||
Loan Number | Original | Stated | Current | State & | ||||||||||||||||
First | ||||||||||||||||||||
& | Principal | Principal | Paid to | Note | LTV at | Original | Payment | |||||||||||||
Loan Group | Balance | Balance | Date | Rate | Origination | Term | Date | |||||||||||||
111195640 1 | ||||||||||||||||||||
300,260.62 | 298,625.55 | 01-Jul-2005 | 6.650% | CA - 90.00% | 360 | 01-Apr-2005 | ||||||||||||||
112252705 1 | 62,356.72 | 62,221.97 | 01-Jul-2005 | 11.150% | TN - 80.00% | 360 | 01-May-2005 | |||||||||||||
113487664 1 | 59,932.81 | 59,725.18 | 01-Jul-2005 | 8.900% | UT - 64.52% | 360 | 01-May-2005 | |||||||||||||
TOTAL | 422,550.15 | 420,572.70 | ||||||||||||||||||
Page 12 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Prepayment Report | ||||||||||||||||||||
VOLUNTARY PREPAYMENTS | ||||||||||||||||||||
Total | ||||||||||||||||||||
Current | ||||||||||||||||||||
Number of Paid in Full Loans | 85 | |||||||||||||||||||
Number of Repurchased Loans | 0 | |||||||||||||||||||
Total Number of Loans Prepaid in Full | 85 | |||||||||||||||||||
Curtailments Amount | 81,498.29 | |||||||||||||||||||
Paid in Full Balance | 13,874,562.86 | |||||||||||||||||||
Repurchased Loans Balance | 0.00 | |||||||||||||||||||
Total Prepayment Amount | 13,956,061.15 | |||||||||||||||||||
Cumulative | ||||||||||||||||||||
Number of Paid in Full Loans | 393 | |||||||||||||||||||
Number of Repurchased Loans | 9 | |||||||||||||||||||
Total Number of Loans Prepaid in Full | 402 | |||||||||||||||||||
Paid in Full Balance | 67,243,851.81 | |||||||||||||||||||
Repurchased Loans Balance | 804,022.05 | |||||||||||||||||||
Curtailments Amount | 779,869.28 | |||||||||||||||||||
Total Prepayment Amount | 68,827,743.14 | |||||||||||||||||||
Page 13 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
VOLUNTARY PREPAYMENTS RATES | ||||||||||||||||||||
Total | ||||||||||||||||||||
SMM | 1.86% | |||||||||||||||||||
3 Months Avg SMM | 1.83% | |||||||||||||||||||
12 Months Avg SMM | 1.46% | |||||||||||||||||||
Avg SMM Since Cut-off | 1.46% | |||||||||||||||||||
CPR | 20.14% | |||||||||||||||||||
3 Months Avg CPR | 19.93% | |||||||||||||||||||
12 Months Avg CPR | 16.21% | |||||||||||||||||||
Avg CPR Since Cut-off | 16.21% | |||||||||||||||||||
PSA | 1,178.45% | |||||||||||||||||||
3 Months Avg PSA Approximation | 1,320.42% | |||||||||||||||||||
12 Months Avg PSA Approximation | 1,340.50% | |||||||||||||||||||
Avg PSA Since Cut-off Approximation | 1,340.50% | |||||||||||||||||||
Page 14 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
PREPAYMENT CALCULATION METHODOLOGY | ||||||||||||||||||||
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.002*min(30,WAS)) Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn)*(1-SMMn+1)*...*(1-SMMm)]^(1/months in period n,m) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*Avg WASn,m)) Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m) Weighted Average Seasoning (WAS) Dates correspond to distribution dates. Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases. | ||||||||||||||||||||
Page 15 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Prepayment Detail Report | ||||||||||||||||||||
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution | ||||||||||||||||||||
Loan Number | Original | Current | State & | Type Prepayment | First | |||||||||||||||
& | Loan | Principal | Prepayment | Prepayment | Note | LTV at | & | Payment | ||||||||||||
Loan Group | Status | Balance | Amount | Date | Rate | Origination | Original Term | Date | ||||||||||||
102359700 1 | 147,951.97 | 147,385.30 | 30-Nov-2005 | 7.600% | FL - 90.00% | Paid Off - 360 | 01-Feb-2005 | |||||||||||||
102588761 1 | 281,681.72 | 280,327.91 | 30-Nov-2005 | 6.400% | WA - 84.93% | Paid Off - 360 | 01-Feb-2005 | |||||||||||||
102840840 1 | 104,446.47 | 102,840.52 | 07-Dec-2005 | 7.990% | MI - 81.54% | Paid Off - 180 | 01-Feb-2005 | |||||||||||||
104550041 1 | 71,875.53 | 71,693.93 | 14-Nov-2005 | 9.650% | WI - 78.32% | Paid Off - 360 | 01-Feb-2005 | |||||||||||||
105759542 1 | 99,801.42 | 99,461.41 | 06-Dec-2005 | 8.100% | MO - 61.67% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
105785406 1 | 210,419.05 | 209,429.78 | 01-Dec-2005 | 6.450% | CA - 44.71% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
107202723 1 | 99,559.80 | 99,233.94 | 07-Dec-2005 | 8.300% | PA - 71.89% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
107376949 1 | 90,371.13 | 90,056.42 | 23-Nov-2005 | 7.990% | IA - 80.43% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
107876948 1 | 203,421.79 | 202,437.77 | 18-Nov-2005 | 6.300% | CA - 44.17% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
108033846 1 | 151,494.29 | 150,791.51 | 30-Nov-2005 | 8.950% | NV - 80.00% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
108243668 1 | 134,579.56 | 134,015.74 | 15-Nov-2005 | 7.050% | CA - 90.00% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
108454307 1 | 126,289.81 | 125,819.35 | 22-Nov-2005 | 7.650% | FL - 85.00% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
108484007 1 | 80,278.34 | 79,900.89 | 14-Nov-2005 | 6.450% | MD - 20.03% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
108621301 1 | 104,613.99 | 104,294.93 | 18-Nov-2005 | 8.650% | AZ - 89.99% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
108676305 1 | 251,452.08 | 250,515.35 | 08-Dec-2005 | 7.650% | MI - 90.00% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
108700667 1 | 294,171.96 | 292,762.42 | 23-Nov-2005 | 6.350% | CA - 71.41% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
108744087 1 | 79,749.37 | 78,133.61 | 21-Nov-2005 | 7.500% | MD - 72.32% | Paid Off - 180 | 01-Apr-2005 | |||||||||||||
108796764 1 | 59,809.95 | 58,804.38 | 06-Dec-2005 | 6.700% | TN - 43.32% | Paid Off - 180 | 01-Apr-2005 | |||||||||||||
108867789 1 | 63,899.67 | 63,722.17 | 21-Nov-2005 | 9.250% | AL - 65.31% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
109191783 1 | 128,225.32 | 126,905.08 | 22-Nov-2005 | 6.700% | MD - 69.18% | Paid Off - 240 | 01-Apr-2005 | |||||||||||||
109286963 1 | 195,633.82 | 195,006.23 | 30-Nov-2005 | 8.400% | RI - 77.33% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
109407809 1 | 109,591.76 | 109,236.64 | 16-Nov-2005 | 8.350% | FL - 84.46% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
109484204 1 | 144,592.98 | 143,900.12 | 23-Nov-2005 | 6.350% | FL - 65.88% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
109502526 1 | 163,565.61 | 162,825.43 | 30-Nov-2005 | 6.650% | OR - 87.05% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
109522581 1 | 213,071.44 | 212,179.64 | 09-Dec-2005 | 7.100% | CA - 82.50% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
109578880 1 | 160,049.49 | 159,280.18 | 30-Nov-2005 | 6.350% | FL - 79.46% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
109855825 1 | 274,173.01 | 271,824.60 | 02-Dec-2005 | 5.990% | CA - 63.19% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
109880245 1 | 195,865.76 | 194,970.93 | 09-Dec-2005 | 6.600% | PA - 90.00% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
109970145 1 | 155,562.12 | 154,816.74 | 18-Nov-2005 | 6.350% | FL - 89.97% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
110101383 1 | 229,469.92 | 226,054.14 | 07-Dec-2005 | 6.750% | NJ - 55.06% | Paid Off - 240 | 01-Apr-2005 | |||||||||||||
110130549 1 | 163,573.99 | 162,847.84 | 08-Dec-2005 | 6.750% | FL - 67.32% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
110175965 1 | 178,556.39 | 177,799.62 | 01-Dec-2005 | 6.990% | MD - 87.32% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
110390507 1 | 178,735.26 | 177,965.42 | 22-Nov-2005 | 7.990% | WI - 90.00% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
110396769 1 | 208,407.67 | 207,399.54 | 17-Nov-2005 | 6.300% | MA - 86.47% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
110626660 1 | 142,627.05 | 139,731.90 | 30-Nov-2005 | 6.250% | OK - 90.00% | Paid Off - 180 | 01-May-2005 | |||||||||||||
110911823 1 | 132,632.20 | 131,134.72 | 01-Dec-2005 | 6.750% | NJ - 38.83% | Paid Off - 360 | 01-May-2005 | |||||||||||||
110983681 1 | 266,285.93 | 265,069.38 | 28-Nov-2005 | 6.600% | NY - 75.50% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
110991783 1 | 120,222.35 | 119,738.15 | 09-Dec-2005 | 7.850% | FL - 66.30% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
111115861 1 | 204,877.27 | 203,818.68 | 08-Dec-2005 | 5.950% | CA - 69.15% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
111155826 1 | 318,701.92 | 317,340.69 | 06-Dec-2005 | 6.950% | CA - 90.00% | Paid Off - 360 | 01-Apr-2005 | |||||||||||||
111208583 1 | 79,902.71 | 79,653.40 | 23-Nov-2005 | 8.500% | NY - 60.49% | Paid Off - 360 | 01-May-2005 | |||||||||||||
Page 16 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution | ||||||||||||||||||||
Loan Number | Original | Current | State & | Type Prepayment | First | |||||||||||||||
& | Loan | Principal | Prepayment | Prepayment | Note | LTV at | & | Payment | ||||||||||||
Loan Group | Status | Balance | Amount | Date | Rate | Origination | Original Term | Date | ||||||||||||
111219929 1 | 101,621.58 | 101,267.42 | 17-Nov-2005 | 7.950% | FL - 80.00% | Paid Off - 360 | 01-May-2005 | |||||||||||||
111288742 1 | 133,094.80 | 132,020.11 | 30-Nov-2005 | 10.550% | IL - 80.00% | Paid Off - 360 | 01-May-2005 | |||||||||||||
111447801 1 | 128,941.35 | 126,890.08 | 21-Nov-2005 | 6.050% | CA - 23.54% | Paid Off - 240 | 01-May-2005 | |||||||||||||
111473245 1 | 94,447.92 | 93,032.84 | 05-Dec-2005 | 7.990% | OR - 95.00% | Paid Off - 180 | 01-May-2005 | |||||||||||||
111499083 1 | 69,786.97 | 69,541.31 | 08-Dec-2005 | 7.900% | MI - 86.29% | Paid Off - 360 | 01-May-2005 | |||||||||||||
111732228 1 | 227,458.27 | 226,419.71 | 30-Nov-2005 | 8.450% | KS - 94.97% | Paid Off - 360 | 01-May-2005 | |||||||||||||
111771341 1 | 109,920.75 | 109,425.64 | 06-Dec-2005 | 7.050% | DE - 62.99% | Paid Off - 360 | 01-May-2005 | |||||||||||||
111943601 1 | 133,730.52 | 132,629.92 | 17-Nov-2005 | 8.500% | FL - 89.80% | Paid Off - 240 | 01-May-2005 | |||||||||||||
111976841 1 | 110,437.13 | 110,274.35 | 18-Nov-2005 | 12.050% | NJ - 85.00% | Paid Off - 360 | 01-May-2005 | |||||||||||||
112000708 1 | 80,983.80 | 79,563.80 | 07-Dec-2005 | 6.990% | MD - 66.05% | Paid Off - 180 | 01-May-2005 | |||||||||||||
112061304 1 | 154,200.34 | 153,437.65 | 30-Nov-2005 | 6.150% | CA - 73.61% | Paid Off - 360 | 01-May-2005 | |||||||||||||
112067806 1 | 69,786.91 | 69,240.19 | 29-Nov-2005 | 8.900% | PA - 25.66% | Paid Off - 240 | 01-May-2005 | |||||||||||||
112104468 1 | 142,764.79 | 141,908.64 | 15-Nov-2005 | 7.350% | FL - 88.94% | Paid Off - 300 | 01-May-2005 | |||||||||||||
112166400 1 | 456,200.20 | 454,048.46 | 05-Dec-2005 | 6.400% | CA - 77.45% | Paid Off - 360 | 01-May-2005 | |||||||||||||
112276985 1 | 381,293.91 | 379,495.46 | 15-Nov-2005 | 6.400% | CA - 79.58% | Paid Off - 360 | 01-May-2005 | |||||||||||||
112287784 1 | 433,997.12 | 432,314.81 | 09-Dec-2005 | 7.450% | NV - 76.32% | Paid Off - 360 | 01-May-2005 | |||||||||||||
112292008 1 | 217,366.00 | 216,512.95 | 07-Dec-2005 | 7.350% | NY - 70.70% | Paid Off - 360 | 01-May-2005 | |||||||||||||
112326863 1 | 86,266.52 | 85,900.50 | 01-Dec-2005 | 6.950% | FL - 83.09% | Paid Off - 360 | 01-May-2005 | |||||||||||||
112417209 1 | 202,166.39 | 201,315.22 | 08-Dec-2005 | 6.990% | DE - 90.00% | Paid Off - 360 | 01-May-2005 | |||||||||||||
112499223 1 | 61,283.87 | 60,803.75 | 17-Nov-2005 | 8.900% | FL - 40.31% | Paid Off - 240 | 01-May-2005 | |||||||||||||
112535182 1 | 300,969.10 | 299,615.90 | 08-Dec-2005 | 6.650% | MA - 90.00% | Paid Off - 360 | 01-May-2005 | |||||||||||||
112895784 1 | 59,929.99 | 59,750.48 | 21-Nov-2005 | 8.700% | OH - 74.35% | Paid Off - 360 | 01-May-2005 | |||||||||||||
112959804 1 | 139,089.09 | 137,659.41 | 22-Nov-2005 | 6.650% | AZ - 87.50% | Paid Off - 240 | 01-May-2005 | |||||||||||||
113012140 1 | 136,190.81 | 135,550.56 | 30-Nov-2005 | 6.650% | OR - 90.00% | Paid Off - 360 | 01-May-2005 | |||||||||||||
113340467 1 | 152,283.98 | 151,723.74 | 02-Dec-2005 | 7.800% | MD - 71.31% | Paid Off - 360 | 01-May-2005 | |||||||||||||
113412324 1 | 165,286.03 | 163,975.77 | 02-Dec-2005 | 8.200% | FL - 79.80% | Paid Off - 360 | 01-May-2005 | |||||||||||||
113493407 1 | 137,792.46 | 137,262.23 | 17-Nov-2005 | 7.450% | CA - 71.43% | Paid Off - 360 | 01-May-2005 | |||||||||||||
113555122 1 | 137,806.51 | 137,311.69 | 29-Nov-2005 | 7.800% | CA - 32.81% | Paid Off - 360 | 01-May-2005 | |||||||||||||
113672588 1 | 148,616.76 | 148,162.43 | 02-Dec-2005 | 8.600% | FL - 70.12% | Paid Off - 360 | 01-May-2005 | |||||||||||||
113729883 1 | 90,104.04 | 89,135.44 | 08-Dec-2005 | 6.500% | FL - 55.10% | Paid Off - 240 | 01-May-2005 | |||||||||||||
113877385 1 | 66,339.66 | 64,958.03 | 25-Nov-2005 | 6.950% | OH - 52.57% | Paid Off - 180 | 01-May-2005 | |||||||||||||
113882328 1 | 99,375.23 | 99,055.65 | 30-Nov-2005 | 8.350% | NV - 76.54% | Paid Off - 360 | 01-May-2005 | |||||||||||||
113918247 1 | 95,870.22 | 95,535.40 | 30-Nov-2005 | 7.990% | WA - 45.31% | Paid Off - 360 | 01-May-2005 | |||||||||||||
113974364 1 | 264,609.36 | 262,599.89 | 02-Dec-2005 | 7.550% | CA - 63.92% | Paid Off - 360 | 01-May-2005 | |||||||||||||
114027428 1 | 177,737.59 | 177,066.98 | 28-Nov-2005 | 7.550% | FL - 32.89% | Paid Off - 360 | 01-May-2005 | |||||||||||||
114154560 1 | 213,580.94 | 212,514.52 | 11-Nov-2005 | 6.100% | CA - 67.23% | Paid Off - 360 | 01-May-2005 | |||||||||||||
114161284 1 | 67,895.66 | 67,629.17 | 23-Nov-2005 | 7.350% | PA - 76.97% | Paid Off - 360 | 01-May-2005 | |||||||||||||
114285604 1 | 89,888.26 | 89,601.34 | 23-Nov-2005 | 8.450% | LA - 88.24% | Paid Off - 360 | 01-May-2005 | |||||||||||||
114315286 1 | 427,405.97 | 425,886.56 | 02-Dec-2005 | 7.850% | NV - 79.97% | Paid Off - 360 | 01-May-2005 | |||||||||||||
114538481 1 | 186,660.98 | 185,797.22 | 09-Dec-2005 | 6.500% | CA - 70.83% | Paid Off - 360 | 01-May-2005 | |||||||||||||
114564206 1 | 59,740.75 | 59,068.57 | 17-Nov-2005 | 11.200% | GA - 54.55% | Paid Off - 180 | 01-May-2005 | |||||||||||||
114588569 1 | 279,502.13 | 278,233.30 | 23-Nov-2005 | 6.600% | MA - 89.17% | Paid Off - 360 | 01-May-2005 | |||||||||||||
114623580 1 | 343,871.42 | 342,682.65 | 02-Dec-2005 | 7.990% | WA - 90.00% | Paid Off - 360 | 01-May-2005 | |||||||||||||
Page 17 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution | ||||||||||||||||||||
Loan Number | Original | Current | State & | Type Prepayment | First | |||||||||||||||
& | Loan | Principal | Prepayment | Prepayment | Note | LTV at | & | Payment | ||||||||||||
Loan Group | Status | Balance | Amount | Date | Rate | Origination | Original Term | Date | ||||||||||||
115216442 1 | 96,892.52 | 96,616.72 | 30-Nov-2005 | 8.950% | MD - 65.99% | Paid Off - 360 | 01-May-2005 | |||||||||||||
TOTAL | 13,953,380.47 | 13,874,562.86 | ||||||||||||||||||
Page 18 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Realized Loss Report | ||||||||||||||||||||
COLLATERAL REALIZED LOSSES | ||||||||||||||||||||
Total | ||||||||||||||||||||
Current | ||||||||||||||||||||
Number of Loans Liquidated | 1 | |||||||||||||||||||
Collateral Principal Realized Loss/(Gain) Amount | 6,745.84 | |||||||||||||||||||
Collateral Interest Realized Loss/(Gain) Amount | 0.00 | |||||||||||||||||||
Net Liquidation Proceeds | 105,583.20 | |||||||||||||||||||
Cumulative | ||||||||||||||||||||
Number of Loans Liquidated | 1 | |||||||||||||||||||
Collateral Realized Loss/(Gain) Amount | 6,745.84 | |||||||||||||||||||
Net Liquidation Proceeds | 105,583.20 | |||||||||||||||||||
Page 19 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
DEFAULT SPEEDS | ||||||||||||||||||||
Total | ||||||||||||||||||||
MDR | 0.01% | |||||||||||||||||||
3 Months Avg MDR | 0.00% | |||||||||||||||||||
12 Months Avg MDR | 0.00% | |||||||||||||||||||
Avg MDR Since Cut-off | 0.00% | |||||||||||||||||||
CDR | 0.18% | |||||||||||||||||||
3 Months Avg CDR | 0.06% | |||||||||||||||||||
12 Months Avg CDR | 0.03% | |||||||||||||||||||
Avg CDR Since Cut-off | 0.03% | |||||||||||||||||||
SDA | 1.04% | |||||||||||||||||||
3 Months Avg SDA Approximation | 0.39% | |||||||||||||||||||
12 Months Avg SDA Approximation | 0.24% | |||||||||||||||||||
Avg SDA Since Cut-off Approximation | 0.24% | |||||||||||||||||||
Loss Severity Approximation for Current Period | 6.01% | |||||||||||||||||||
3 Months Avg Loss Severity Approximation | 2.00% | |||||||||||||||||||
12 Months Avg Loss Severity Approximation | 1.00% | |||||||||||||||||||
Avg Loss Severity Approximation Since Cut-off | 1.00% | |||||||||||||||||||
Page 20 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY | ||||||||||||||||||||
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance) | ||||||||||||||||||||
Conditional Default Rate (CDR): 1-((1-MDR)^12) | ||||||||||||||||||||
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60))) | ||||||||||||||||||||
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)*(1-MDRn+1)*...*(1-MDRm)]^(1/months in period n,m) | ||||||||||||||||||||
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12) | ||||||||||||||||||||
Average SDA Approximation over period between the nth month and mth month: | ||||||||||||||||||||
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60))) | ||||||||||||||||||||
Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m) | ||||||||||||||||||||
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans) | ||||||||||||||||||||
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m) | ||||||||||||||||||||
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods. | ||||||||||||||||||||
Dates correspond to distribution dates. | ||||||||||||||||||||
Page 21 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Realized Loss Detail Report | ||||||||||||||||||||
Loan Number | Current | State & | Prior | Realized | Cumulative | |||||||||||||||
& | Loan | Note | LTV at | Original | Principal | Loss/(Gain) | Realized | Realized | ||||||||||||
Loan Group | Status | Rate | Origination | Term | Balance | Revision | Loss/(Gain) | Loss/(Gain) | ||||||||||||
111183786 1 | ||||||||||||||||||||
7.050% | LA - 83.85% | 360 | 112,329.04 | 6,745.84 | 0.00 | |||||||||||||||
TOTAL | 112,329.04 | 6,745.84 | 0.00 | |||||||||||||||||
Page 22 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Triggers and Adj. Cert. Report | ||||||||||||||||||||
TRIGGER EVENTS | ||||||||||||||||||||
Total | ||||||||||||||||||||
Has Stepdown Condition occurred (0 = No, 1=Yes) | 0 | |||||||||||||||||||
Does a Trigger Event Exist-Either a) or b) Yes? | 1 | |||||||||||||||||||
60+ days Delinquency Balance | 4,884,092.92 | |||||||||||||||||||
Ending Collateral Balance | 743,699,221.18 | |||||||||||||||||||
Delinquency Percentage | 0.3478% | |||||||||||||||||||
Senior Enhancement Percentage | 9.791100% | |||||||||||||||||||
Cumulative Loss Percentage | 0.0008% | |||||||||||||||||||
ADJUSTABLE RATE CERTIFICATE INFORMATION | ||||||||||||||||||||
SPACE INTENTIONALLY LEFT BLANK | ||||||||||||||||||||
ADDITIONAL INFORMATION | ||||||||||||||||||||
SPACE INTENTIONALLY LEFT BLANK | ||||||||||||||||||||
Page 23 of 24 | ||||||||||||||||||||
ABFC Trust 2005-AQ1 | ||||||||||||||||||||
Mortgage Pass-Through Certificates | ||||||||||||||||||||
2005-AQ1 | ||||||||||||||||||||
December 27, 2005 Distribution | ||||||||||||||||||||
Additional Certificate Report | ||||||||||||||||||||
ADDITIONAL CERTIFICATE REPORT | ||||||||||||||||||||
CLASS | ||||||||||||||||||||
Page 24 of 24 |