EXHIBIT 10.1
CONTACT: CUSTOMER SERVICES -- CTSLINK
WELLS FARGO BANK MINNESOTA, N.A.
SECURITIES ADMINISTRATION SERVICES
7485 NEW HORIZON WAY
FREDERICK, MD 21703
WWW.CTSLINK.COM
TELEPHONE: (301) 815-6600
FAX: (301) 315-6660
SMT SERIES 2005-1
RECORD DATE: SEPTEMBER 30, 2005
DISTRIBUTION DATE: OCTOBER 20, 2005
CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
- ------ --------- ----------- ------------ -------------- ------------
A-1 81744FGM# SEN 4.02625% 223,913,546.17 750,523.24
A-2 81744FGN1 SEN 4.10000% 79,934,750.87 273,110.40
X-A 81744FGP6 IO 0.75394% 0.00 190,754.04
X-B 81744FGS0 IO 0.39464% 0.00 3,929.34
B-1 81744FGQ4 SUB 4.21625% 7,067,000.00 24,811.42
B-2 81744FGR2 SUB 4.49625% 3,949,000.00 14,785.22
B-3 81744FGU5 SUB 5.04625% 2,495,000.00 10,484.45
B-4 81744FGV3 SUB 4.80065% 1,455,000.00 5,816.38
B-5 81744FGW1 SUB 4.80065% 831,000.00 3,321.94
B-6 81744FGX9 SUB 4.80065% 1,871,544.03 7,481.53
A-R 81744FGT8 RES 3.94639% 0.00 0.26
-------------- ------------
Totals 321,516,841.07 1,285,018.22
============== ============
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Loss
- ------ ------------- -------- -------------- ------------- ----------
A-1 8,001,671.55 0.00 215,911,874.62 8,752,194.79 0.00
A-2 3,487,628.79 0.00 76,447,122.08 3,760,739.19 0.00
X-A 0.00 0.00 0.00 190,754.04 0.00
X-B 0.00 0.00 0.00 3,929.34 0.00
B-1 0.00 0.00 7,067,000.00 24,811.42 0.00
B-2 0.00 0.00 3,949,000.00 14,785.22 0.00
B-3 0.00 0.00 2,495,000.00 10,484.45 0.00
B-4 0.00 0.00 1,455,000.00 5,816.38 0.00
B-5 0.00 0.00 831,000.00 3,321.94 0.00
B-6 0.00 0.00 1,871,544.03 7,481.53 0.00
A-R 0.00 0.00 0.00 0.26 0.00
------------- ---- -------------- ------------- ----
Totals 11,489,300.34 0.00 310,027,540.73 12,774,318.56 0.00
============= ==== ============== ============= ====
All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
PRINCIPAL DISTRIBUTION STATEMENT
Beginning Scheduled Unscheduled
Original Certificate Principal Principal
Class Face Amount Balance Distribution Distribution Accretion
- ------ -------------- -------------- ------------ ------------- ---------
A-1 298,055,000.00 223,913,546.17 0.00 8,001,671.55 0.00
A-2 100,000,000.00 79,934,750.87 0.00 3,487,628.79 0.00
X-A 0.00 0.00 0.00 0.00 0.00
X-B 0.00 0.00 0.00 0.00 0.00
B-1 7,067,000.00 7,067,000.00 0.00 0.00 0.00
B-2 3,949,000.00 3,949,000.00 0.00 0.00 0.00
B-3 2,495,000.00 2,495,000.00 0.00 0.00 0.00
B-4 1,455,000.00 1,455,000.00 0.00 0.00 0.00
B-5 831,000.00 831,000.00 0.00 0.00 0.00
B-6 1,871,544.03 1,871,544.03 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00
-------------- -------------- ---- ------------- ----
Totals 415,723,644.03 321,516,841.07 0.00 11,489,300.34 0.00
============== ============== ==== ============= ====
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (1) Reduction Balance Percentage Distribution
- ------ -------- ------------- -------------- ----------- -------------
A-1 0.00 8,001,671.55 215,911,874.62 0.72440279 8,001,671.55
A-2 0.00 3,487,628.79 76,447,122.08 0.76447122 3,487,628.79
X-A 0.00 0.00 0.00 0.00000000 0.00
X-B 0.00 0.00 0.00 0.00000000 0.00
B-1 0.00 0.00 7,067,000.00 1.00000000 0.00
B-2 0.00 0.00 3,949,000.00 1.00000000 0.00
B-3 0.00 0.00 2,495,000.00 1.00000000 0.00
B-4 0.00 0.00 1,455,000.00 1.00000000 0.00
B-5 0.00 0.00 831,000.00 1.00000000 0.00
B-6 0.00 0.00 1,871,544.03 1.00000000 0.00
A-R 0.00 0.00 0.00 0.00000000 0.00
---- ------------- -------------- ---------- -------------
Totals 0.00 11,489,300.34 310,027,540.73 0.74575393 11,489,300.34
==== ============= ============== ========== =============
(1) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a
full description.
PRINCIPAL DISTRIBUTION FACTORS STATEMENT
Beginning Scheduled Unscheduled
Original Certificate Principal Principal
Class Face Amount Balance Distribution Distribution Accretion
- ------ -------------- -------------- ------------ ------------- ----------
A-1 298,055,000.00 751.24908547 0.00000000 26.84629196 0.00000000
A-2 100,000,000.00 799.34750870 0.00000000 34.87628790 0.00000000
X-A 0.00 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 7,067,000.00 0.00000000 0.00000000 0.00000000 0.00000000
B-2 3,949,000.00 0.00000000 0.00000000 0.00000000 0.00000000
B-3 2,495,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-4 1,455,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-5 831,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-6 1,871,544.03 1000.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
- ------ ---------- ----------- ------------- ----------- ------------
A-1 0.00000000 26.84629196 724.40279351 0.72440279 26.84629196
A-2 0.00000000 34.87628790 764.47122080 0.76447122 34.87628790
X-A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
B-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
B-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
B-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
B-5 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
B-6 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a
full description.
INTEREST DISTRIBUTION STATEMENT
Beginning Payment of
Current Certificate/ Current Unpaid
Original Certificate Notional Accrued Interest
Class Face Amount Rate Balance Interest Shortfall
- ------ -------------- ----------- -------------- ------------ ----------
A-1 298,055,000.00 4.02625% 223,913,546.17 751,276.60 0.00
A-2 100,000,000.00 4.10000% 79,934,750.87 273,110.40 0.00
X-A 0.00 0.75394% 303,848,297.04 190,903.13 0.00
X-B 0.00 0.39464% 13,511,000.00 4,443.35 0.00
B-1 7,067,000.00 4.21625% 7,067,000.00 24,830.20 0.00
B-2 3,949,000.00 4.49625% 3,949,000.00 14,796.41 0.00
B-3 2,495,000.00 5.04625% 2,495,000.00 10,491.99 0.00
B-4 1,455,000.00 4.80065% 1,455,000.00 5,820.79 0.00
B-5 831,000.00 4.80065% 831,000.00 3,324.25 0.00
B-6 1,871,544.03 4.80065% 1,871,544.03 7,487.19 0.00
A-R 100.00 3.94639% 0.00 0.00 0.00
-------------- ------------ ----
Totals 415,723,644.03 1,286,484.51 0.00
============== ============ ====
Non- Remaining Ending
Current Supported Unpaid Certificate/
Interest Interest Realized Total Interest Interest Notational
Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance
- ------ --------- --------- -------- -------------- --------- --------------
A-1 0.00 753.36 0.00 750,523.24 0.00 215,911,874.62
A-2 0.00 0.00 0.00 273,110.40 0.00 76,447,122.08
X-A 0.00 149.09 0.00 190,754.04 0.00 292,358,996.70
X-B 0.00 3.36 0.00 3,929.34 0.00 13,511,000.00
B-1 0.00 18.78 0.00 24,811.42 0.00 7,067,000.00
B-2 0.00 11.19 0.00 14,785.22 0.00 3,949,000.00
B-3 0.00 7.55 0.00 10,484.45 0.00 2,495,000.00
B-4 0.00 4.40 0.00 5,816.38 0.00 1,455,000.00
B-5 0.00 2.51 0.00 3,321.94 0.00 831,000.00
B-6 0.00 5.66 0.00 7,481.53 0.00 1,871,554.03
A-R 0.00 0.00 0.00 0.26 0.00 0.00
---- ------ ---- ------------ ----
Totals 0.00 955.90 0.00 1,285,018.22 0.00
==== ====== ==== ============ ====
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a
full description.
INTEREST DISTRIBUTION FACTORS STATEMENT
Payment of
Current Beginning Current Unpaid Current
Original Certificate Certificate/ Accrued Interest Interest
Class (5) Face Amount Rate Notional Balance Interest Shortfall Shortfall
- --------- -------------- ----------- ---------------- ---------- ---------- ----------
A-1 298,055,000.00 4.02625% 751.24908547 2.52059721 0.00000000 0.00000000
A-2 100,000,000.00 4.10000% 799.34750870 2.73110400 0.00000000 0.00000000
X-A 0.00 0.75394% 763.33244662 0.47958983 0.00000000 0.00000000
X-B 0.00 0.39464% 1000.00000000 0.32886907 0.00000000 0.00000000
B-1 7,067,000.00 4.21625% 1000.00000000 3.51354181 0.00000000 0.00000000
B-2 3,949,000.00 4.49625% 1000.00000000 3.74687516 0.00000000 0.00000000
B-3 2,495,000.00 5.04625% 1000.00000000 4.20520641 0.00000000 0.00000000
B-4 1,455,000.00 4.80065% 1000.00000000 4.00054296 0.00000000 0.00000000
B-5 831,000.00 4.80065% 1000.00000000 4.00054152 0.00000000 0.00000000
B-6 1,871,544.03 4.80065% 1000.00000000 4.00054173 0.00000000 0.00000000
A-R 100.00 3.94639% 0.00000000 0.00000000 0.00000000 0.00000000
Non- Remaining
Supported Total Unpaid
Interest Realized Interest Interest Ending Certificate/
Class (5) Shortfall Loss (6) Distribution Shortfall Notational Balance
- --------- ---------- ---------- ------------ ---------- -------------------
A-1 0.00252759 0.00000000 2.51806962 0.00000000 724.40279351
A-2 0.00000000 0.00000000 2.73110400 0.00000000 764.47122080
X-A 0.00037455 0.00000000 0.47921528 0.00000000 734.46884652
X-B 0.00024869 0.00000000 0.29082525 0.00000000 1000.00000000
B-1 0.00265742 0.00000000 3.51088439 0.00000000 1000.00000000
B-2 0.00283363 0.00000000 3.74404153 0.00000000 1000.00000000
B-3 0.00302605 0.00000000 4.20218437 0.00000000 1000.00000000
B-4 0.00302405 0.00000000 3.99751203 0.00000000 1000.00000000
B-5 0.00302046 0.00000000 3.99752106 0.00000000 1000.00000000
B-6 0.00302424 0.00000000 3.99751749 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 2.60000000 0.00000000 0.00000000
(5) Per $1 denomination
(6) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a
full description.
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 12,878,210.07
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses (Gains, Subsequent Expenses &
Recoveries) 0.00
Prepayment Penalties 0.00
-------------
Total Deposits 12,878,210.07
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 103,891.51
Payment of Interest and Principal 12,774,318.56
-------------
Total Withdrawals (Pool Distribution Amount) 12,878,210.07
Ending Balance 0.00
=============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
Total Prepayment/Curtailment Interest Shortfall 955.90
Servicing Fee Support 0.00
------
Non-Supported Prepayment Curtailment Interest Shortfall 955.90
======
SERVICING FEES
Gross Servicing Fee 100,542.38
Master Servicing Fee 3,349.13
Supported Prepayment/Curtailment Interest Shortfall 0.00
----------
Net Servicing Fee 103,891.51
==========
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
- ------------ --------- ----------- -------- --------
X-A Pool 1 Reserve Fund 4,500.00 0.00 0.00 4,500.00
X-A Pool 2 Reserve Fund 4,500.00 0.00 0.00 4,500.00
X-B Reserve Fund 1,000.00 510.65 510.65 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE
- ------------------------------- ---------------------------- ----------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
------ ------------ ------ --------- ------ ---------
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 9 2,871,200.36 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 95,927.50 60 Days 0 0.00 60 Days 0 0.00
90 Days 1 160,196.23 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
--- ------------ --- ---- --- ----
11 3,127,324.09 0 0.00 0 0.00
REO TOTAL
- ---------------------------- -------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
------ --------- ------ ------------
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 9 2,871,200.36
60 Days 0 0.00 60 Days 1 95,927.50
90 Days 0 0.00 90 Days 1 160,196.23
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
--- ---- --- ------------
0 0.00 11 3,127,324.09
DELINQUENT BANKRUPTCY FORECLOSURE
- ------------------------------- ------------------------------ ------------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
-------- --------- -------- --------- -------- ---------
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.955414% 0.926110% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.106157% 0.030942% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.106157% 0.051672% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------- -------- -------- -------- -------- --------
1.167728% 1.008723% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- ------------------------------ -------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
------- --------- -------- ----------
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.955414% 0.926110%
60 Days 0.000000% 0.000000% 60 Days 0.106157% 0.030942%
90 Days 0.000000% 0.000000% 90 Days 0.106157% 0.051672%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------- -------- -------- --------
0.000000% 0.000000% 1.167728% 1.008723%
Current Period Class A Insufficient Funds: 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
Original $ Original% Current $ Current % Current Class % Prepayment %
------------- ---------- ------------- ---------- --------------- ------------
Class A 17,668,544.03 4.25006956% 17,668,544.03 5.69902402% 94.300976% 0.000000%
Class B-1 10,601,544.03 2.55014219% 10,601,544.03 3.41954912% 2.279475% 39.997636%
Class B-2 6,652,544.03 1.60023230% 6,652,544.03 2.14579131% 1.273758% 22.350455%
Class B-3 4,157,544.03 1.00007399% 4,157,544.03 1.34102410% 0.804767% 14.121141%
Class B-4 2,702,544.03 0.65008187% 2,702,544.03 0.87171095% 0.469313% 8.234974%
Class B-5 1,871,544.03 0.45018946% 1,871,544.03 0.60367025% 0.268041% 4.703274%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.603670% 10.592520%
Please refer to the prospectus supplement for a full description of loss
exposure
DELINQUENCY STATUS BY GROUP
DELINQUENT BANKRUPTCY FORECLOSURE
- ------------------------------- ---------------------------- ----------------------------
GROUP ONE
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
------ ------------ ------ --------- ------ ---------
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 7 2,113,779.68 30 Days 0 0.00 30 Days 0 0.00
60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00
90 Days 1 160,196.23 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
--- ------------ --- ---- --- ----
8 2,273,975.91 0 0.00 0 0.00
REO TOTAL
- ---------------------------- -------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
------ --------- ------ ------------
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 7 2,113,779.68
60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 1 160,196.23
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
--- ---- --- ------------
0 0.00 8 2,273,975.91
DELINQUENT BANKRUPTCY FORECLOSURE
- ------------------------------ ------------------------------ ------------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
-------- --------- -------- --------- -------- ---------
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 1.013025% 0.922475% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.144718% 0.069911% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------- -------- -------- -------- -------- --------
1.157742% 0.992387% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- ------------------------------ ------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
-------- --------- -------- ---------
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 1.013025% 0.922475%
60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.144718% 0.069911%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
--------- --------- --------- --------
0.000000% 0.000000% 1.157742% 0.992387%
DELINQUENT BANKRUPTCY FORECLOSURE
- ----------------------------- ------------------------------- ----------------------------
GROUP TWO 1.183654%
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
------ ---------- --------- --------- ------ ---------
0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 2 757,420.68 30 Days 0 0.00 30 Days 0 0.00
60 Days 1 95,927.50 60 Days 0 0.00 60 Days 0 0.00
90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00
--- ---------- --- ---- --- ----
3 853,348.18 0 0.00 0 0.00
REO TOTAL
- ---------------------------- -----------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
------ --------- ------ ----------
0-29 Days 0 0.00 0-29 Days 0 0.00
30 Days 0 0.00 30 Days 2 757,420.68
60 Days 0 0.00 60 Days 1 95,927.50
90 Days 0 0.00 90 Days 0 0.00
120 Days 0 0.00 120 Days 0 0.00
150 Days 0 0.00 150 Days 0 0.00
180+ Days 0 0.00 180+ Days 0 0.00
--- ---- --- ----------
0 0.00 3 853,348.18
DELINQUENT BANKRUPTCY FORECLOSURE
- ----------------------------- ------------------------------ ----------------------------
No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance
-------- --------- -------- --------- -------- ---------
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.796813% 0.936406% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000%
60 Days 0.398406% 0.118596% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------- --------- -------- --------- -------- ---------
1.195219% 1.055002% 0.000000% 0.000000% 0.000000% 0.000000%
REO TOTAL
- ------------------------------ ------------------------------
No. of Principal No. of Principal
Loans Balance Loans Balance
-------- --------- -------- ---------
0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 30 Days 0.796813% 0.936406%
60 Days 0.000000% 0.000000% 60 Days 0.398406% 0.118596%
90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000%
-------- -------- -------- ---------
0.000000% 0.000000% 1.195219% 1.055002%
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 5.110063%
Weighted Average Net Coupon 4.734808%
Weighted Average Pass-Through Rate 4.722308%
Weighted Average Maturity (Stepdown Calculation) 327
Beginning Scheduled Collateral Loan Count 975
Number of Loans Paid in Full 33
Ending Scheduled Collateral Loan Count 942
Beginning Scheduled Collateral Balance 321,516,841.07
Ending Scheduled Collateral Balance 310,027,540.73
Ending Actual Collateral Balance at 30-Sept-2005 310,028,023.27
Monthly P&I Constant 1,369,142.87
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realization Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 12,704,079.82
Scheduled Principal 0.00
Unscheduled Principal 11,489,300.34
MISCELLANEOUS REPORTING
Pro Rata Senior Percent 94.504629%
GROUP POOL ONE POOL TWO TOTAL
- ------------------------------- -------------- ----------------- --------------
Collateral Description Mixed ARM 6 Month LIBOR ARM Mixed ARM
Weighted Average Coupon Rate 5.105841 5.121931 5.110063
Weighted Average Net Rate 4.730670 4.746438 4.734808
Pass-Through Rate 4.718170 4.733938 4.722308
Weighted Average Maturity 326 331 327
Record Date 09/30/2005 09/30/2005 09/30/2005
Principal and Interest Constant 1,009,013.57 360,129.30 1,369,142.87
Beginning Loan Count 718 257 975
Loans Paid in Full 27 6 33
Ending Loan Count 691 251 942
Beginning Scheduled Balance 237,143,352.15 84,373,488.92 321,516,841.07
Ending Scheduled Balance 229,141,680.60 80,885,860.13 310,027,540.73
Scheduled Principal 0.00 0.00 0.00
Unscheduled Principal 8,001,671.55 3,487,628.79 11,489,300.34
Scheduled Interest 1,009,013.57 360,129.30 1,369,142.87
Servicing Fee 74,141.05 26,401.33 100,542.38
Master Servicing Fee 2,470.24 878.89 3,349.13
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 932,402.28 332,849.08 1,265,251.36
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
MISCELLANEOUS REPORTING
Group Pool One
One Month Libor Loan Balance 126,680,008.77
Six Month Libor Loan Balance 102,461,671.83
Senior Percent 100.000000%
Senior Prepayment Percent 100.000000%
Subordinate Percent 0.000000%
Subordinate Prepayment Percent 0.000000%
Principal Transfer Amount 0.00
Interest Transfer Amount 0.00
Group Pool Two
Senior Percent 100.000000%
Senior Prepayment Percent 100.000000%
Subordinate Percent 0.000000%
Subordinate Prepayment Percent 0.000000%
Principal Transfer Amount 0.00
Interest Transfer Amount 0.00