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: December 17, 2004
(Date of earliest event reported)
Commission File No.: 333-62671-01
First Union National Bank - Chase Manhattan Bank
Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates
Series 1999-C2
(Exact name of registrant as specified in its charter)
New York (governing law of Pooling and Servicing Agreement)
(State of Incorporation)
52-2178384
52-2178388
52-2178389
52-7000342
(I.R.S. Employer Identification No.)
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
(410) 884-2000
Registrant's Full Telephone Number
(Former name, former address and former fiscal year, 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 under the Exchange Act
(17 CFR 240.14a-12)
[ ] 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
On December 17, 2004, a distribution was made to holders of First Union
National Bank - Chase Manhattan Bank Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates, Series 1999-C2.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Commercial Mortgage
Pass-Through Certificates, Series 1999-C2, relating to the
December 17, 2004 distribution.
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.
First Union National Bank - Chase Manhattan Bank
Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates
Series 1999-C2
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield, Assistant Vice President
By: Beth Belfield, Assistant Vice President
Date: December 17, 2004
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Commercial
Mortgage Pass-Through Certificates, Series 1999-C2,
relating to the December 17, 2004 distribution.
Wells Fargo Bank, N.A.
Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
First Union National Bank
Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates
Series 1999-C2
For Additional Information, please contact
CTSLink Customer Service
(301) 815-6600
Reports Available on the World Wide Web
@ www.ctslink.com/cmbs
Payment Date: December 17, 2004
Record Date: November 30, 2004
DISTRIBUTION DATE STATEMENT
Table of Contents
STATEMENT SECTIONS PAGE(s)
Certificate Distribution Detail 2
Certificate Factor Detail 3
Reconciliation Detail 4
Other Required Information 5
Cash Reconciliation 6
Ratings Detail 7
Current Mortgage Loan and Property Stratification Tables 8 - 10
Mortgage Loan Detail 11 - 17
Principal Prepayment Detail 18
Historical Detail 19
Delinquency Loan Detail 20
Specially Serviced Loan Detail 21 - 23
Modified Loan Detail 24
Liquidated Loan Detail 25
Underwriter
First Union Capital Markets
One First Union Center
301 South College Street
Charlotte, NC 28288
Contact: Craig M. Lieberman
Phone Number: (704) 383-7407
Underwriter
Chase Securities Inc.
270 Park Avenue, 6th Floor
New York, NY 10017
Contact: Steven Schwartz
Phone Number: (212) 834-5612
Master Servicer
First Union National Bank
Charlotte Plaza, Floor 23 NC-1075
201 South College Street
Charlotte, NC 28288
Contact: Timothy S. Ryan
Phone Number: (704) 593-7878
Special Servicer
ARCap Servicing, Inc.
5605 N. MacArthur Blvd.
Irving, TX 75038
Contact: Chris Crouch
Phone Number: (972) 580-1688 Ext 333
This report has been compiled from information provided to
Wells Fargo Bank, N.A. by various third parties, which may
include the Servicer, Master Servicer, Special Servicer and others.
Wells Fargo Bank, N.A. has not independently confirmed the
accuracy of information received from these third parties and
assumes no duty to do so. Wells Fargo Bank, N.A. expressly
disclaims any responsibility for the accuracy or completeness
of information furnished by third parties.
Copyright 2004, Wells Fargo Bank, N.A.
Certificate Distribution Detail
Class CUSIP Pass-Through Original Beginning Principal Interest
Rate Balance Balance Distribution Distribution
<s> <c> <c> <c> <c> <c> <c>
A-1 337366AA6 6.363000% 203,500,000.00 59,057,803.20 1,992,498.10 313,154.00
A-2 337366AB4 6.645000% 673,747,967.00 673,747,967.00 0.00 3,730,879.37
B 337366AD0 6.795000% 47,260,093.00 47,260,093.00 0.00 267,610.28
C 337366AE8 6.944000% 62,028,874.00 62,028,874.00 0.00 358,940.42
D 337366AF5 7.062000% 14,768,779.00 14,768,779.00 0.00 86,914.26
E 337366AG3 7.165147% 41,352,582.00 41,352,582.00 0.00 246,914.43
F 337366AH1 7.165147% 17,722,535.00 17,722,535.00 0.00 105,820.47
G 337366AJ7 5.950000% 41,352,582.00 41,352,582.00 0.00 205,039.89
H 337366AK4 5.950000% 11,815,024.00 11,815,024.00 0.00 58,582.83
J 337366AL2 5.950000% 11,815,023.00 11,815,023.00 0.00 58,582.82
K 337366AM0 5.950000% 11,815,024.00 11,815,024.00 0.00 58,582.83
L 337366AN8 5.950000% 11,815,023.00 11,815,023.00 0.00 58,582.82
M 337366AP3 5.950000% 11,815,024.00 11,815,024.00 0.00 58,582.83
N 337366AQ1 5.950000% 20,676,291.00 13,666,047.46 0.00 38,799.15
R-I N/A 0.000000% 0.00 0.00 0.00 0.00
R-II N/A 0.000000% 0.00 0.00 0.00 0.00
R-III N/A 0.000000% 0.00 0.00 0.00 0.00
Totals 1,181,484,821.00 1,030,032,380.66 1,992,498.10 5,646,986.40
Class CUSIP Prepayment Realized Loss/ Total Ending Current
Penalties Additional Trust Distribution Balance Subordination
Fund Expenses Level (1)
<s> <c> <c> <c> <c> <c> <c>
A-1 337366AA6 0.00 0.00 2,305,652.10 57,065,305.10 28.91%
A-2 337366AB4 0.00 0.00 3,730,879.37 673,747,967.00 28.91%
B 337366AD0 0.00 0.00 267,610.28 47,260,093.00 24.31%
C 337366AE8 0.00 0.00 358,940.42 62,028,874.00 18.28%
D 337366AF5 0.00 0.00 86,914.26 14,768,779.00 16.84%
E 337366AG3 0.00 0.00 246,914.43 41,352,582.00 12.82%
F 337366AH1 0.00 0.00 105,820.47 17,722,535.00 11.10%
G 337366AJ7 0.00 0.00 205,039.89 41,352,582.00 7.08%
H 337366AK4 0.00 0.00 58,582.83 11,815,024.00 5.93%
J 337366AL2 0.00 0.00 58,582.82 11,815,023.00 4.78%
K 337366AM0 0.00 0.00 58,582.83 11,815,024.00 3.63%
L 337366AN8 0.00 0.00 58,582.82 11,815,023.00 2.48%
M 337366AP3 0.00 0.00 58,582.83 11,815,024.00 1.33%
N 337366AQ1 0.00 0.00 38,799.15 13,666,047.46 0.00%
R-I N/A 0.00 0.00 0.00 0.00 0.00%
R-II N/A 0.00 0.00 0.00 0.00 0.00%
R-III N/A 0.00 0.00 0.00 0.00 0.00%
Totals 0.00 0.00 7,639,484.50 1,028,039,882.56
Class CUSIP Pass-Through Original Beginning Interest
Rate Notional Notional Distribution
Amount Amount
<s> <c> <c> <c> <c> <c>
IO 337366AC2 0.652599% 1,181,484,821.00 1,030,032,380.66 560,165.46
Class CUSIP Prepayment Total Ending
Penalties Distribution Notional
Amount
<s> <c> <c> <c> <c>
IO 337366AC2 0.00 560,165.46 1,028,039,882.56
<FN>
(1) Calculated by taking (A) the sum of the ending certificate balance of all
classes less (B) the sum of (i) the ending certificate balance of the designated
class and (ii) the ending certificate balance of all classes which are not
subordinate to the designated class and dividing the result by (A).
</FN>
Certificate Factor Detail
Class CUSIP Beginning Principal Interest Prepayment Realized Loss/ Ending
Balance Distribution Distribution Penalties Additional Balance
Trust Fund
Expenses
<s> <c> <c> <c> <c> <c> <c> <c>
A-1 337366AA6 290.21033514 9.79114545 1.53884029 0.00000000 0.00000000 280.41918968
A-2 337366AB4 1,000.00000000 0.00000000 5.53750000 0.00000000 0.00000000 1,000.00000000
B 337366AD0 1,000.00000000 0.00000000 5.66250007 0.00000000 0.00000000 1,000.00000000
C 337366AE8 1,000.00000000 0.00000000 5.78666671 0.00000000 0.00000000 1,000.00000000
D 337366AF5 1,000.00000000 0.00000000 5.88499970 0.00000000 0.00000000 1,000.00000000
E 337366AG3 1,000.00000000 0.00000000 5.97095557 0.00000000 0.00000000 1,000.00000000
F 337366AH1 1,000.00000000 0.00000000 5.97095562 0.00000000 0.00000000 1,000.00000000
G 337366AJ7 1,000.00000000 0.00000000 4.95833344 0.00000000 0.00000000 1,000.00000000
H 337366AK4 1,000.00000000 0.00000000 4.95833356 0.00000000 0.00000000 1,000.00000000
J 337366AL2 1,000.00000000 0.00000000 4.95833313 0.00000000 0.00000000 1,000.00000000
K 337366AM0 1,000.00000000 0.00000000 4.95833356 0.00000000 0.00000000 1,000.00000000
L 337366AN8 1,000.00000000 0.00000000 4.95833313 0.00000000 0.00000000 1,000.00000000
M 337366AP3 1,000.00000000 0.00000000 4.95833356 0.00000000 0.00000000 1,000.00000000
N 337366AQ1 660.95255962 0.00000000 1.87650435 0.00000000 0.00000000 660.95255962
R-I N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class CUSIP Beginning Interest Prepayment Ending
Notional Distribution Penalties Notional
Amount Amount
<s> <c> <c> <c> <c> <c>
IO 337366AC2 871.81177646 0.47411990 0.00000000 870.12534083
Reconciliation Detail
Advance Summary
<s> <c>
P & I Advances Outstanding 1,708,142.88
Servicing Advances Outstanding 228,447.69
Reimbursement for Interest on Advances 0.00
paid from general collections
Reimbursement for Interest on Servicing 0.00
Advances paid from general collections
Aggregate amount of Nonrecoverable Advances 0.00
Servicing Fee Breakdowns
<s> <c>
Current Period Accrued Servicing Fees 62,092.94
Less Delinquent Servicing Fees 1,318.06
Less Reductions to Servicing Fees 0.00
Plus Servicing Fees for Delinquent Payments Received 440.99
Plus Adjustments for Prior Servicing Calculation 0.00
Total Servicing Fees Collected 61,215.87
Certificate Interest Reconciliation
Class Accrued Net Aggregate Distributable Distributable Additional Interest Remaining Unpaid
Certificate Prepayment Certificate Certificate Trust Fund Distribution Distributable
Interest Interest Interest Interest Expenses Certificate
Shortfall Adjustment Interest
<s> <c> <c> <c> <c> <c> <c> <c>
A-1 313,154.00 0.00 313,154.00 0.00 0.00 313,154.00 0.00
A-2 3,730,879.37 0.00 3,730,879.37 0.00 0.00 3,730,879.37 0.00
IO 560,165.46 0.00 560,165.46 0.00 0.00 560,165.46 0.00
B 267,610.28 0.00 267,610.28 0.00 0.00 267,610.28 0.00
C 358,940.42 0.00 358,940.42 0.00 0.00 358,940.42 0.00
D 86,914.26 0.00 86,914.26 0.00 0.00 86,914.26 0.00
E 246,914.43 0.00 246,914.43 0.00 0.00 246,914.43 0.00
F 105,820.47 0.00 105,820.47 0.00 0.00 105,820.47 0.00
G 205,039.89 0.00 205,039.89 0.00 0.00 205,039.89 0.00
H 58,582.83 0.00 58,582.83 0.00 0.00 58,582.83 0.00
J 58,582.82 0.00 58,582.82 0.00 0.00 58,582.82 0.00
K 58,582.83 0.00 58,582.83 0.00 0.00 58,582.83 0.00
L 58,582.82 0.00 58,582.82 0.00 0.00 58,582.82 0.00
M 58,582.83 0.00 58,582.83 0.00 0.00 58,582.83 0.00
N 67,760.82 0.00 67,760.82 0.00 28,961.67 38,799.15 328,079.63
Total 6,236,113.53 0.00 6,236,113.53 0.00 28,961.67 6,207,151.86 328,079.63
Other Required Information
<s> <c>
Available Distribution Amount (1) 8,199,649.96
Aggregate Number of Outstanding Loans 194
Aggregate Unpaid Principal Balance of Loans 1,028,297,017.07
Aggregate Stated Principal Balance of Loans 1,028,039,882.56
Aggregate Amount of Servicing Fee 61,215.87
Aggregate Amount of Special Servicing Fee 4,738.33
Aggregate Amount of Trustee Fee 1,931.31
Aggregate Trust Fund Expenses (1,094.94)
Interest Reserve Deposit 0.00
Interest Reserve Withdrawal 0.00
Specially Serviced Loans not Delinquent
Number of Outstanding Loans 2
Aggregate Unpaid Principal Balance 6,569,467.14
<fn>
(1) The Available Distribution Amount includes any Prepayment Premiums.
</fn>
Original Subordination Level
<s> <c> <c> <c>
Class A-1 25.75% Class G 6.75%
Class A-2 25.75% Class H 5.75%
Class B 21.75% Class J 4.75%
Class C 16.50% Class K 3.75%
Class D 15.25% Class L 2.75%
Class E 11.75% Class M 1.75%
Class F 10.25% Class N 0.00%
Appraisal Reduction Amount
Loan Appraisal Cumulative Current Date Appraisal
Number Reduction ASER ASER Reduction
Effected Amount Amount Effected
<s> <c> <c> <c> <c>
480000027 603,331.43 40,300.02 4,091.34 05/11/2004
825999748 3,140,854.47 211,955.33 21,226.94 05/11/2004
Total 3,744,185.90 252,255.35 25,318.28
Cash Reconciliation Detail
<s> <c>
Total Funds Collected
Interest:
Scheduled Interest 6,300,137.72
Interest reductions due to Nonrecoverability Determinations 0.00
Interest Adjustments 0.00
Deferred Interest 0.00
Net Prepayment Interest Shortfall 0.00
Net Prepayment Interest Excess 0.00
Extension Interest 0.00
Interest Reserve Withdrawal 0.00
Total Interest Collected 6,300,137.72
Principal:
Scheduled Principal 1,992,498.10
Unscheduled Principal 0.00
Principal Prepayments 0.00
Collection of Principal after Maturity Date 0.00
Recoveries from Liquidation and Insurance Proceeds 0.00
Excess of Prior Principal Amounts paid 0.00
Curtailments 0.00
Negative Amortization 0.00
Principal Adjustments 0.00
Total Principal Collected 1,992,498.10
Other:
Prepayment Penalties/Yield Maintenance 0.00
Repayment Fees 0.00
Borrower Option Extension Fees 0.00
Equity Payments Received 0.00
Net Swap Counterparty Payments Received 0.00
Total Other Collected: 0.00
Total Funds Collected 8,292,635.82
Total Funds Distributed
Fees:
Master Servicing Fee 62,092.94
Trustee Fee 1,931.31
Certificate Administration Fee 0.00
Insurer Fee 0.00
Miscellaneous Fee 0.00
Total Fees 64,024.25
Additional Trust Fund Expenses:
Reimbursement for Interest on Advances 0.00
ASER Amount 25,318.28
Special Servicing Fee 4,738.33
Rating Agency Expenses 0.00
Attorney Fees & Expenses 0.00
Bankruptcy Expense 0.00
Taxes Imposed on Trust Fund 0.00
Non-Recoverable Advances 0.00
Other Expenses (1,094.94)
Total Additional Trust Fund Expenses 28,961.67
Interest Reserve Deposit 0.00
Payments to Certificateholders & Others:
Interest Distribution 6,207,151.86
Principal Distribution 1,992,498.10
Prepayment Penalties/Yield Maintenance 0.00
Borrower Option Extension Fees 0.00
Equity Payments Paid 0.00
Net Swap Counterparty Payments Paid 0.00
Total Payments to Certificateholders & Others 8,199,649.96
Total Funds Distributed 8,292,635.88
Ratings Detail
Class CUSIP Original Ratings Current Ratings (1)
Fitch Moody's S & P Fitch Moody's S & P
<s> <c> <c> <c> <c> <c> <c> <c>
A-1 337366AA6 AAA Aaa X AAA Aaa X
A-2 337366AB4 AAA Aaa X AAA Aaa X
IO 337366AC2 AAA Aaa X AAA Aaa X
B 337366AD0 AA Aa2 X AA Aa2 X
C 337366AE8 A A2 X A A2 X
D 337366AF5 A- A3 X A- A3 X
E 337366AG3 BBB Baa2 X BBB Baa2 X
F 337366AH1 BBB- Baa3 X BBB- Baa3 X
G 337366AJ7 BB+ Ba1 X BB+ Ba2 X
H 337366AK4 BB Ba2 X BB Ba3 X
J 337366AL2 BB- Ba3 X BB- B1 X
K 337366AM0 B+ B1 X B+ B3 X
L 337366AN8 B B2 X B Caa1 X
M 337366AP3 B- B3 X B- Caa2 X
N 337366AQ1 NR NR X NR NR X
<FN>
NR - Designates that the class was not rated by the above agency at the time of
original issuance.
X - Designates that the above rating agency did not rate any classes in this transaction at the time of
original issuance.
N/A - Data not available this period.
1) For any class not rated at the time of original issuance by any particular
rating agency, no request has been made subsequent to issuance to obtain rating
information, if any, from such rating agency. The current ratings were obtained
directly from the applicable rating agency within 30 days of the payment date
listed above. The ratings may have changed since they were obtained. Because the
ratings may have changed, you may want to obtain current ratings directly from the
rating agencies.
Fitch, Inc.
One State Street Plaza
New York, New York 10004
(212) 908-0500
Moody's Investors Service
99 Church Street
New York, New York 10007
(212) 553-0300
Standard & Poor's Rating Services
55 Water Street
New York, New York 10041
(212) 438-2430
</FN>
Current Mortgage Loan and Property Stratification Tables
Scheduled Balance
Scheduled # of Scheduled % of WAM WAC Weighted
Balance Loans Balance Agg. (2) Avg DSCR (1)
Bal.
<s> <c> <c> <c> <c> <c> <c>
Defeased 10 43,644,880.43 4.25 49 7.6452 NAP
Below 1,000,000 8 5,852,371.07 0.57 76 7.7983 1.619525
1,000,001 to 2,000,000 32 50,838,729.62 4.95 91 7.5952 1.387044
2,000,001 to 3,000,000 44 105,055,587.48 10.22 95 7.4141 1.512827
3,000,001 to 4,000,000 20 70,759,740.61 6.88 72 7.6583 1.748867
4,000,001 to 5,000,000 23 103,912,864.16 10.11 66 7.2932 1.420889
5,000,001 to 6,000,000 12 65,925,778.62 6.41 48 7.2262 1.307822
6,000,001 to 7,000,000 5 32,048,075.56 3.12 50 7.5318 1.175432
7,000,001 to 8,000,000 5 36,368,416.86 3.54 73 7.0511 1.194023
8,000,001 to 9,000,000 7 59,281,726.47 5.77 65 7.2166 1.109069
9,000,001 to 10,000,000 4 38,270,228.21 3.72 49 7.4156 1.569592
10,000,001 to 15,000,000 14 171,631,668.79 16.70 48 7.3830 1.300028
15,000,001 to 20,000,000 4 68,389,694.20 6.65 47 6.9466 1.362597
20,000,001 to 25,000,000 3 66,299,099.50 6.45 45 7.4405 1.065173
25,000,001 and greater 3 109,761,020.98 10.68 49 7.1080 0.883544
Totals 194 1,028,039,882.56 100.00 60 7.3398 1.314039
State (3)
State # of Scheduled % of WAM WAC Weighted
Props Balance Agg. (2) Avg DSCR (1)
Bal.
<s> <c> <c> <c> <c> <c> <c>
Defeased 10 43,644,880.43 4.25 49 7.6452 NAP
Alabama 4 29,170,487.53 2.84 54 7.3379 1.143564
Arizona 2 18,361,131.14 1.79 51 7.4843 1.185882
Arkansas 1 3,165,034.19 0.31 138 7.2350 NAP
California 34 136,300,454.33 13.26 50 7.6899 1.331642
Connecticut 5 31,223,583.81 3.04 56 7.6345 1.518881
Delaware 1 20,100,356.17 1.96 47 6.7500 0.650000
Florida 19 70,776,337.96 6.88 60 7.2963 1.157078
Georgia 15 86,676,244.24 8.43 50 7.4207 0.852371
Hawaii 1 5,902,569.89 0.57 51 6.9100 1.550000
Illinois 6 20,267,033.15 1.97 48 6.9659 0.955921
Indiana 2 13,994,495.02 1.36 47 7.3539 1.119555
Iowa 1 3,689,498.22 0.36 188 8.1100 NAP
Kansas 4 19,040,840.95 1.85 48 6.7798 1.619233
Kentucky 1 1,309,289.23 0.13 183 7.3750 2.520000
Louisiana 2 5,477,151.59 0.53 104 7.8784 1.046650
Maryland 2 8,801,042.05 0.86 72 7.2649 1.220000
Massachusetts 6 21,686,899.79 2.11 70 7.6526 1.503582
Michigan 3 17,105,062.49 1.66 94 7.3985 1.340000
Minnesota 2 13,197,883.97 1.28 47 6.7678 1.239079
Missouri 4 25,461,624.17 2.48 53 6.8774 1.705332
Nebraska 8 10,588,721.00 1.03 51 7.6550 1.144906
Nevada 5 32,432,850.32 3.15 58 7.6176 1.147634
New Hampshire 1 2,295,529.23 0.22 186 6.9420 NAP
New Jersey 6 49,264,342.26 4.79 47 6.6973 1.578641
New York 12 50,563,079.23 4.92 54 7.7048 1.789218
North Carolina 17 59,771,003.55 5.81 90 7.3225 1.024646
Ohio 3 8,548,833.78 0.83 84 7.8495 1.339406
Oregon 1 2,414,633.90 0.23 50 7.7500 1.530000
Pennsylvania 9 59,740,951.70 5.81 58 7.2187 1.410392
Rhode Island 1 933,062.99 0.09 51 8.5000 1.415935
South Carolina 3 5,583,123.48 0.54 150 7.3361 NAP
Tennessee 4 9,592,359.23 0.93 100 7.3330 1.992193
Texas 13 77,974,455.34 7.58 55 6.8507 1.328039
Utah 1 3,131,557.91 0.30 53 7.8500 0.700000
Virginia 18 33,251,707.54 3.23 112 7.3290 2.101265
Washington 1 16,835,585.15 1.64 43 7.2130 0.970000
Wisconsin 3 9,766,185.64 0.95 51 7.8598 0.727493
Totals 231 1,028,039,882.56 100.00 60 7.3398 1.314039
Debt Service Coverage Ratio (1)
Debt Service # of Scheduled % of WAM WAC Weighted
Coverage Ratio Loans Balance Agg. (2) Avg DSCR (1)
Bal.
<s> <c> <c> <c> <c> <c> <c>
Credit Lease 27 66,720,662.23 6.49 160 7.2033 NAP
Defeased 10 43,644,880.43 4.25 49 7.6452 NAP
1.19 or less 49 373,478,679.00 36.33 54 7.3853 0.829960
1.20 to 1.24 11 51,276,885.73 4.99 60 7.5348 1.221655
1.25 to 1.29 7 73,419,277.35 7.14 48 7.1600 1.265568
1.30 to 1.34 9 42,540,392.86 4.14 52 7.6959 1.320877
1.35 to 1.39 7 36,094,429.37 3.51 34 7.7032 1.381336
1.40 to 1.44 10 41,557,654.77 4.04 54 7.1506 1.420767
1.45 to 1.49 7 18,730,206.33 1.82 78 7.5208 1.462032
1.50 to 1.54 7 40,870,193.85 3.98 57 7.7795 1.528420
1.55 to 1.59 8 56,827,822.77 5.53 49 7.0382 1.564077
1.60 to 1.69 6 46,452,548.38 4.52 38 6.7622 1.642455
1.7 and greater 36 136,426,249.49 13.27 62 7.2241 2.214944
Totals 194 1,028,039,882.56 100.00 60 7.3398 1.314039
Property Type (3)
Property # of Scheduled % of WAM WAC Weighted
Type Props Balance Agg. (2) Avg DSCR (1)
Bal.
<s> <c> <c> <c> <c> <c> <c>
Defeased 10 43,644,880.43 4.25 49 7.6452 NAP
Health Care 9 21,694,265.87 2.11 57 7.6944 1.477528
Industrial 10 29,959,076.47 2.91 51 7.6931 1.123057
Lodging 25 150,622,316.37 14.65 70 7.1174 1.058346
Mixed Use 9 40,822,047.20 3.97 51 7.6561 1.189831
Mobile Home Park 3 8,701,161.68 0.85 49 7.5740 1.264940
Multi-Family 80 315,672,134.08 30.71 58 7.4390 1.207004
Office 20 112,392,959.02 10.93 46 7.5372 1.259563
Other 1 1,303,051.26 0.13 221 7.7500 NAP
Retail 63 301,526,640.96 29.33 68 7.1172 1.562475
Self Storage 1 1,701,349.22 0.17 51 7.3750 1.790000
Totals 231 1,028,039,882.56 100.00 60 7.3398 1.314039
Note Rate
Note Rate # of Scheduled % of WAM WAC Weighted
Loans Balance Agg. (2) Avg DSCR (1)
Bal.
<s> <c> <c> <c> <c> <c> <c>
Defeased 10 43,644,880.43 4.25 49 7.6452 NAP
6.749% or Less 18 133,305,973.62 12.97 49 6.5523 1.534051
6.750% to 6.999% 21 120,818,598.39 11.75 76 6.8245 1.105145
7.000% to 7.249% 32 162,217,469.79 15.78 63 7.1114 1.427938
7.250% to 7.499% 30 152,419,821.41 14.83 75 7.3605 1.279862
7.500% to 7.749% 30 239,162,687.24 23.26 51 7.6066 1.249738
7.750% to 7.999% 26 93,073,360.55 9.05 56 7.8226 1.225750
8.000% to 8.249% 13 35,283,705.49 3.43 65 8.0698 1.290365
8.250% to 8.499% 7 36,351,355.56 3.54 48 8.2698 0.931829
8.500% to 8.999% 4 6,353,048.01 0.62 90 8.7059 1.506646
9.000% and greater 3 5,408,982.07 0.53 103 9.3450 1.527618
Totals 194 1,028,039,882.56 100.00 60 7.3398 1.314039
Seasoning
Seasoning # of Scheduled % of WAM WAC Weighted
Loans Balance Agg. (2) Avg DSCR (1)
Bal.
<s> <c> <c> <c> <c> <c> <c>
Defeased 10 43,644,880.43 4.25 49 7.6452 NAP
12 months or less 0 0.00 0.00 0 0.0000 0.000000
13 to 24 months 0 0.00 0.00 0 0.0000 0.000000
25 to 36 months 0 0.00 0.00 0 0.0000 0.000000
37 to 48 months 0 0.00 0.00 0 0.0000 0.000000
49 months and greater 184 984,395,002.13 95.75 61 7.3263 1.294394
Totals 194 1,028,039,882.56 100.00 60 7.3398 1.314039
Anticipated Remaining Term (ARD and Balloon Loans)
Anticipated # of Scheduled % of WAM WAC Weighted
Remaining Term (2) Loans Balance Agg. (2) Avg DSCR (1)
Bal.
<s> <c> <c> <c> <c> <c> <c>
Defeased 10 43,644,880.43 4.25 49 7.6452 NAP
108 months or less 146 883,666,074.22 85.96 49 7.3278 1.277089
109 to 120 months 0 0.00 0.00 0 0.0000 0.000000
121 to 156 months 6 17,060,075.98 1.66 138 7.2350 NAP
157 to 216 months 6 18,163,042.16 1.77 181 7.1288 NAP
217 to 240 months 0 0.00 0.00 0 0.0000 0.000000
241 to 252 months 0 0.00 0.00 0 0.0000 0.000000
253 to 300 months 0 0.00 0.00 0 0.0000 0.000000
301 and greater 0 0.00 0.00 0 0.0000 0.000000
Totals 168 962,534,072.79 93.63 53 7.3368 1.298319
Remaining Stated Term (Fully Amortizing Loans)
Remaining Stated # of Scheduled % of WAM WAC Weighted
Term Loans Balance Agg. (2) Avg DSCR (1)
Bal.
<s> <c> <c> <c> <c> <c> <c>
108 months or less 3 4,059,511.11 0.39 101 7.5400 2.260000
109 to 120 months 1 4,180,104.54 0.41 109 9.3750 1.520000
121 to 156 months 0 0.00 0.00 0 0.0000 0.000000
157 to 216 months 18 50,106,113.02 4.87 171 7.1701 1.798869
217 to 240 months 2 4,270,454.24 0.42 225 7.4026 1.460000
241 to 252 months 0 0.00 0.00 0 0.0000 0.000000
253 to 300 months 2 2,889,626.86 0.28 283 7.9782 1.152893
301 and greater 0 0.00 0.00 0 0.0000 0.000000
Totals 26 65,505,809.77 6.37 171 7.3845 1.715953
Remaining Amortization Term (ARD and Balloon Loans)
Remaining Amortization # of Scheduled % of WAM WAC Weighted
Term Loans Balance Agg. (2) Avg DSCR (1)
Bal.
<s> <c> <c> <c> <c> <c> <c>
Defeased 10 43,644,880.43 4.25 49 7.6452 NAP
180 months or less 9 19,735,527.71 1.92 66 7.4363 1.290082
181 to 228 months 23 169,493,214.32 16.49 62 7.0823 1.008198
229 to 240 months 19 52,106,969.60 5.07 64 7.7564 1.422832
241 to 264 months 5 17,090,586.05 1.66 83 7.2323 1.852241
265 to 288 months 50 342,201,633.68 33.29 46 7.0949 1.408286
289 to 300 months 52 318,261,261.00 30.96 52 7.6208 1.212656
301 to 348 months 0 0.00 0.00 0 0.0000 0.000000
349 and greater 0 0.00 0.00 0 0.0000 0.000000
Totals 168 962,534,072.79 93.63 53 7.3368 1.298319
Age of Most Recent NOI
Age of Most # of Scheduled % of WAM WAC Weighted
Recent NOI Loans Balance Agg. (2) Avg DSCR (1)
Bal.
<s> <c> <c> <c> <c> <c> <c>
Credit Lease 27 66,720,662.23 6.49 160 7.2033 NAP
Defeased 10 43,644,880.43 4.25 49 7.6452 NAP
1 year or less 150 883,475,672.97 85.94 54 7.3137 1.285473
1 to 2 years 5 31,052,800.19 3.02 39 7.8389 1.549222
2 years or greater 2 3,145,866.74 0.31 51 8.4121 1.284346
Totals 194 1,028,039,882.56 100.00 60 7.3398 1.314039
<FN>
(1) The Trustee makes no representations as to the accuracy of the data
provided by the borrower for this calculation. "NAP" means not applicable and
relates to the omission of credit lease loans in the calculation of DSCR.
(2) Anticipated Remaining Term and WAM are each calculated based upon the term
from the current month to the earlier of the Anticipated Repayment Date, if
applicable, and the maturity date.
(3) Data in this table was calculated by allocating pro-rata the current loan
information to the properties based upon the Cut-off Date Balance of the related
mortgage loan as disclosed in the offering document.
</FN>
Mortgage Loan Detail
Loan Property Interest Principal Gross
Number ODCR Type (1) City State Payment Payment Coupon
<s> <c> <c> <c> <c> <c> <c> <c>
480000001 1 LO Various Various 253,962.83 100,502.15 6.750%
265300078 2 Various Various CA 225,344.56 39,691.25 7.610%
265999996 3 MF Newnan GA 171,816.80 27,110.70 7.050%
480000004 4 LO Hoover AL 139,914.60 47,605.12 7.400%
480000005 5 OF Los Angeles CA 159,454.37 24,742.52 8.250%
480000006 6 MF Smyrna GA 135,992.83 23,789.79 7.650%
480000007 7 RT Amarillo TX 112,333.87 28,372.10 6.570%
480000009 9 RT South Plainfield NJ 97,923.05 24,558.00 6.570%
480000010 10 RT Lewisville TX 96,714.13 24,254.80 6.570%
480000011 11 LO Seattle WA 101,416.96 36,777.56 7.213%
265300024 12 RT Phoenix AZ 100,444.96 18,441.51 7.500%
265300057 13 MF Bellflower CA 93,445.11 17,030.78 7.500%
265300050 14 MF Henderson NV 90,978.78 17,265.66 7.370%
265300048 15 MF New York NY 92,750.74 15,975.69 7.700%
265300038 16 MF Philadelphia PA 88,671.09 15,320.40 7.690%
480000017 17 RT Allentown PA 78,136.95 17,845.50 6.950%
480000018 18 OF Marlboro NJ 70,831.96 18,163.23 6.500%
480000019 19 MF Raleigh NC 78,593.80 16,512.65 7.375%
480000021 21 RT Novi MI 75,245.01 13,190.85 7.600%
255999863 22 OF Maryland Heights MO 67,375.15 17,096.31 6.860%
480000023 23 RT Philadelphia PA 62,394.25 13,441.27 7.275%
480000024 24 MF Roswell GA 64,795.88 11,335.00 7.650%
480000025 25 MF Clarkston GA 63,872.81 11,309.83 7.550%
265300045 26 MF Various CA 64,238.22 11,262.14 7.625%
480000027 27 RT Derby CT 65,901.83 10,955.53 7.875%
255999598 28 MF Matawan NJ 59,580.67 12,044.78 7.240%
480000029 29 MF Largo FL 61,836.89 10,817.37 7.650%
480000030 30 OF New York NY 62,311.02 10,589.16 7.700%
355132452 31 MF Charlotte NC 46,702.88 29,631.07 6.800%
480000032 32 RT Miami FL 53,048.49 11,811.91 7.050%
480000033 33 MF Atlanta GA 54,142.40 11,375.37 7.375%
480000034 34 RT Minnetonka MN 46,575.49 11,680.60 6.570%
480000035 35 MF Clearwater FL 54,771.53 9,581.42 7.650%
265300042 36 MF Las Vegas NV 55,127.71 9,349.39 7.750%
255999747 37 OF Various PA 48,145.53 13,757.81 7.000%
265300018 38 MF Indianapolis IN 51,611.77 10,059.14 7.340%
480000039 39 LO Kissimmee FL 42,786.04 14,993.16 7.000%
825999751 40 RT Norwalk CT 46,595.92 17,853.85 7.750%
480000041 41 RT Oxnard CA 39,958.20 10,021.07 6.570%
480000042 42 RT Wichita KS 39,958.20 10,021.07 6.570%
480000043 43 MF Pikesville MD 44,769.36 9,406.09 7.375%
265300052 44 RT Auburn MA 44,130.49 7,559.12 7.700%
265300025 45 RT Cerritos CA 42,736.13 7,141.20 7.780%
265300007 46 MF Various IL 37,910.36 11,471.38 7.470%
480000047 47 MF Fayetteville NC 39,696.65 7,029.01 7.550%
480000048 48 OF New York NY 36,935.54 8,035.17 7.125%
265300060 49 OF New York NY 39,316.69 6,713.74 7.710%
255999680 50 RT Lafayette IN 34,289.65 12,669.37 7.375%
265300016 51 MF Ewa HI 34,032.16 7,501.80 6.910%
480000052 52 RT Manchester MO 32,068.37 8,042.38 6.570%
255999829 53 RT Norwalk CT 34,916.26 7,453.90 7.125%
825999708 54 LO Raleigh NC 30,171.99 123,677.77 7.235%
265999995 55 RT Mission Viejo CA 37,504.87 6,732.24 7.625%
255999783 56 LO Tampa FL 32,143.04 11,132.19 7.100%
255999600 57 LO Gastonia NC 33,060.75 10,273.43 7.625%
480000058 58 RT Dallas TX 29,268.75 7,340.27 6.570%
480000059 59 MF Smyrna GA 34,541.70 6,042.52 7.650%
265300073 60 MF Euless TX 31,146.88 6,186.47 7.200%
480000061 61 MF Charlotte NC 32,772.12 5,802.90 7.550%
825999870 62 RT Chesapeake VA 26,922.74 11,978.03 6.750%
255999781 63 LO Sarasota FL 28,821.74 9,981.91 7.100%
255999950 64 MF Wallkill NY 31,821.41 5,936.17 7.500%
265999999 65 HC New Rochelle NY 32,841.09 23,555.13 9.375%
255999936 66 MH Monticello MN 27,978.53 9,547.07 7.125%
265300066 67 MF Grand Island NE 30,798.94 5,595.83 7.510%
265300010 68 OF Boston MA 31,579.13 8,314.48 7.930%
480000069 69 RT Wichita KS 26,341.87 6,606.25 6.570%
255999917 70 MF Tallahassee FL 27,686.96 5,947.80 6.875%
480000071 71 IN Exton PA 27,911.24 8,951.91 7.250%
480000072 72 RT Wichita KS 25,960.11 6,510.50 6.570%
480000073 73 MF Cincinnati OH 31,856.80 5,124.94 8.000%
245114243 74 LO Alexandria VA 26,865.62 12,442.25 7.375%
255999833 75 MF Roselle Park NJ 23,529.23 6,851.30 6.125%
255999780 76 LO Knoxville TN 26,422.13 9,150.85 7.100%
265999981 77 MU Monroe CT 28,610.14 5,578.28 7.375%
255999948 78 HC Macon GA 23,080.45 9,329.49 6.500%
480000079 79 MF Lutz FL 26,812.09 4,690.34 7.650%
255999726 80 HC Various GA 23,898.34 12,698.08 7.625%
480000081 81 OF Wellesley MA 27,194.17 4,480.13 7.800%
265300033 82 IN Green Bay WI 27,272.13 4,449.66 7.875%
480000083 83 IN Exton PA 23,806.65 7,635.45 7.250%
480000084 84 RT Joplin MO 22,142.44 5,553.08 6.570%
265999978 85 RT Orange CA 25,921.76 4,144.46 7.500%
480000086 86 OF Atlanta GA 26,650.12 4,420.81 7.900%
825999709 87 LO Hilton Head SC 20,480.38 84,000.98 7.235%
265300029 88 OF Fenton MO 24,554.79 6,812.28 7.730%
245114242 89 LO Alexandria VA 22,008.12 10,192.59 7.375%
265300040 90 RT Las Vegas NV 26,081.10 6,363.62 8.250%
480000091 91 OF Pasadena CA 25,650.30 4,205.71 7.920%
825999748 92 RT Davenport IA 24,984.29 7,313.71 8.110%
255999954 93 RT San Diego CA 23,226.12 4,743.11 7.250%
480000094 94 MF Marietta GA 24,638.13 4,310.05 7.650%
825999697 95 LO Little Rock AR 19,566.08 80,203.17 7.235%
265300000 96 OF Bronx NY 24,214.33 4,083.95 7.750%
265300034 97 IN Green Bay WI 21,533.87 10,056.47 7.830%
265300044 98 RT Flower Mound TX 23,020.73 3,870.65 7.760%
480000099 99 IN North Haven CT 22,915.07 3,820.57 7.910%
480000100 100 IN Vernon CA 23,254.72 3,578.59 8.020%
265300058 102 RT San Francisco CA 23,129.83 3,511.91 8.090%
480000103 103 RT Baton Rouge LA 22,861.86 3,309.54 8.200%
255999931 104 RT Scarsdale & New Roche NY 19,056.26 4,229.33 7.000%
480000105 105 RT Philadelphia PA 18,065.54 4,311.09 6.750%
480000106 106 OF Draper UT 20,507.37 3,326.51 7.850%
255999965 107 MF Boone NC 17,963.64 5,888.99 7.250%
255999563 108 HC Statesville NC 17,802.78 3,924.64 7.125%
825999678 109 LO Sparks NV 15,314.57 62,775.84 7.235%
480000110 110 OF Southborough MA 13,452.74 15,722.17 7.125%
825999696 111 LO Mobile AL 14,903.13 61,089.33 7.235%
255999804 112 HC Burlington NC 16,838.09 3,786.29 7.000%
825999591 113 RT Commerce Township MI 15,913.99 5,391.90 6.942%
265300069 114 MU Savannah GA 20,331.07 4,333.24 8.750%
480000115 115 OF Las Vegas NV 18,991.06 3,021.88 8.000%
480000116 116 OF Carpinteria CA 17,974.73 3,087.79 7.750%
265999979 117 MF Denton TX 18,561.90 3,010.78 8.000%
255999650 118 RT Ft. Meyers FL 13,808.01 8,365.54 7.000%
825999914 119 RT Colleyville TX 13,068.78 8,441.22 6.700%
265300074 120 MF Fort Worth TX 16,487.46 3,033.06 7.470%
480000121 121 MF Charlotte NC 16,594.99 2,938.44 7.550%
825999588 122 RT Holland MI 14,444.23 4,893.92 6.942%
245114238 123 LO Fredericksburg VA 14,472.96 6,702.84 7.375%
265300081 124 MF Los Angeles CA 16,269.04 3,641.58 7.750%
825999906 125 RT Pembroke Pines FL 12,513.91 8,139.74 6.750%
255999947 126 LO Richmond VA 12,898.21 7,832.76 6.875%
825999874 127 RT York PA 12,784.34 8,462.80 7.020%
265999982 128 RT Medford OR 15,622.88 4,393.33 7.750%
255999933 129 MF Orange NJ 15,998.26 2,778.91 7.750%
255999782 130 LO Mobile AL 13,904.99 4,815.76 7.100%
265300008 131 MF St. Augustine Beach FL 14,887.20 2,937.64 7.300%
825114249 132 RT Franklin TN 12,813.01 7,451.34 7.125%
265300041 133 MU Lawrenceville GA 16,247.86 2,536.51 8.000%
825114317 134 RT Yarmouth MA 14,154.54 5,965.55 7.375%
825999895 135 RT Dallas TX 11,960.47 7,708.20 6.750%
265300013 136 MF San Francisco CA 14,493.21 4,351.07 7.500%
825999574 137 RT Claremont NH 13,303.75 4,168.44 6.942%
265300064 138 MF North Platte NE 14,943.41 2,715.05 7.510%
265300062 139 MH Ranch Mirage CA 15,448.13 2,605.46 7.750%
265300028 140 MF Grand Prairie TX 14,619.37 2,785.64 7.375%
265300055 141 IN Phoenix AZ 15,075.27 2,645.38 7.640%
245114237 142 LO Shreveport LA 13,157.71 6,093.71 7.375%
265300032 143 IN Green Bay WI 15,272.39 2,491.81 7.875%
265300017 144 MF Phoenix AZ 14,203.74 2,738.52 7.375%
825999929 145 RT Oviedo FL 11,384.66 7,179.62 6.688%
265300035 146 MF Topeka KS 15,469.03 3,654.67 8.375%
825999592 147 RT Ironton OH 12,554.61 3,933.70 6.942%
480000148 148 RT Various NY 14,404.55 2,337.30 7.875%
265999990 149 MF Arlington VA 13,886.32 2,412.06 7.750%
245114239 150 LO Charlotte NC 12,104.47 5,605.92 7.375%
255999890 151 MU Livingston NJ 11,851.32 4,108.67 7.040%
265999998 152 MF Los Angeles CA 12,727.24 2,467.61 7.375%
265300019 153 RT Commack NY 13,378.10 3,481.01 8.050%
265300047 154 RT Copperas Cove TX 13,571.06 2,144.97 7.960%
255999651 155 RT Montgomery AL 10,380.15 6,288.78 7.000%
480000156 156 OF Pasadena CA 13,665.38 2,022.73 8.190%
255999966 157 RT East Northport NY 11,235.97 2,559.54 6.875%
265300022 158 MF Nashville TN 11,878.71 2,338.78 7.270%
265300014 159 HC Woodstock VA 12,897.82 2,452.40 8.250%
265300020 160 SS Charlottesville VA 10,489.82 5,469.52 7.375%
245114188 161 MF Long Branch NJ 11,610.10 2,333.13 7.470%
255999988 162 MF Radford VA 10,518.40 2,413.64 6.875%
265300051 163 MF Chesapeake VA 12,375.23 2,923.73 8.375%
265999993 164 IN North Miami FL 11,204.36 3,245.08 7.750%
265999991 165 IN Margate FL 11,443.26 2,061.11 7.750%
265999975 166 MF Omaha NE 12,403.94 1,794.21 8.375%
265300026 167 HC Charlottesville VA 12,135.20 1,763.23 8.250%
815114264 168 RT Tallahassee FL 9,467.70 5,342.56 7.250%
825999776 169 RT Lansdowne MD 8,601.35 5,454.82 6.740%
480000170 170 RT Winter Park FL 9,241.31 2,290.24 6.630%
255999603 171 LO Asheville NC 10,291.21 4,933.18 8.150%
265300049 172 MH Hamilton OH 11,584.25 2,549.17 8.625%
255999951 173 MF New Windsor NY 9,861.92 1,948.63 7.375%
825999949 175 RT Tarboro NC 8,588.15 4,858.41 7.125%
265999977 176 RT New York NY 10,447.76 2,707.17 8.120%
265300065 177 MF Norfolk NE 9,476.60 1,721.79 7.510%
265300039 178 MF Sarasota FL 9,921.64 2,512.33 8.080%
825999797 180 RT Rocky Mount VA 7,788.97 4,132.16 7.000%
265300063 181 MF Marietta GA 9,581.24 1,519.05 7.950%
245114240 182 LO Mount Sterling KY 8,069.64 3,737.29 7.375%
265999983 184 MF Bronx NY 9,155.82 1,590.36 7.750%
255999987 186 MF Radford VA 7,649.75 1,755.37 6.875%
255999727 188 MF Lowell MA 8,062.85 1,554.18 7.320%
265300056 189 IN Phoenix AZ 8,442.15 1,481.41 7.640%
825999800 190 OT Rock Hill SC 8,428.10 1,944.90 7.750%
265999994 192 IN Margate FL 7,760.47 2,247.64 7.750%
825114352 193 RT Greenville SC 5,783.00 6,789.97 7.125%
895096319 214 MF Knoxville TN 7,623.51 1,004.77 8.900%
265300027 215 RT Pawtucket RI 6,628.33 2,700.77 8.500%
805114051 216 RT Ormond Beach FL 6,444.44 5,168.76 9.125%
255999970 217 MF Radford VA 5,737.31 1,316.53 6.875%
825999672 218 LO Lumberton NC 5,028.66 20,612.96 7.235%
265300054 219 IN Phoenix AZ 5,427.10 952.33 7.640%
255999986 220 MF Radford VA 4,135.63 949.00 6.875%
265300031 221 MF Corpus Christi TX 4,431.86 812.25 7.500%
255999969 222 MF Radford VA 2,757.09 632.66 6.875%
265300012 223 RT Douglasville GA 3,064.63 552.47 9.500%
Totals 6,300,137.72 1,992,498.10
Loan Anticipated Maturity Neg. Beginning Ending Paid Thru
Number Repayment Date Amort Scheduled Scheduled Date
Date (Y/N) Balance Balance
<s> <c> <c> <c> <c> <c> <c>
480000001 11/10/2008 11/10/2023 N 45,148,947.41 45,048,445.26 12/10/2004
265300078 N/A 04/01/2009 N 35,533,964.06 35,494,272.81 12/10/2004
265999996 N/A 01/01/2009 N 29,245,413.61 29,218,302.91 12/10/2004
480000004 N/A 06/10/2008 N 22,688,853.82 22,641,248.70 12/10/2004
480000005 N/A 10/01/2008 N 23,193,363.24 23,168,620.72 12/10/2004
480000006 N/A 03/10/2009 N 21,332,209.35 21,308,419.56 12/10/2004
480000007 11/10/2008 11/10/2028 N 20,517,602.18 20,489,230.08 12/10/2004
480000009 12/10/2008 12/10/2028 N 17,885,488.42 17,860,930.42 12/10/2004
480000010 12/10/2008 12/10/2028 N 17,664,680.76 17,640,425.96 12/10/2004
480000011 07/10/2008 11/10/2023 N 16,872,362.71 16,835,585.15 12/10/2004
265300024 N/A 03/01/2009 N 16,071,194.18 16,052,752.67 12/10/2004
265300057 N/A 04/01/2009 N 14,951,218.21 14,934,187.43 12/10/2004
265300050 N/A 04/01/2009 N 14,813,369.21 14,796,103.55 12/10/2004
265300048 N/A 03/01/2009 N 14,454,660.79 14,438,685.10 12/10/2004
265300038 N/A 03/01/2009 N 13,836,840.97 13,821,520.57 12/10/2004
480000017 08/10/2008 08/10/2028 N 13,491,271.28 13,473,425.78 12/10/2004
480000018 N/A 12/10/2005 N 13,076,668.81 13,058,505.58 12/10/2004
480000019 N/A 04/10/2009 N 12,788,144.37 12,771,631.72 12/10/2004
480000021 N/A 05/10/2009 N 11,880,791.33 11,867,600.48 12/10/2004
255999863 N/A 09/01/2009 N 11,785,740.53 11,768,644.22 12/10/2004
480000023 N/A 03/10/2013 N 10,291,834.91 10,278,393.64 12/10/2004
480000024 N/A 03/10/2009 N 10,164,059.26 10,152,724.26 12/10/2004
480000025 N/A 06/10/2009 N 10,151,969.77 10,140,659.94 12/10/2004
265300045 N/A 04/01/2009 N 10,109,621.19 10,098,359.05 12/10/2004
480000027 N/A 01/10/2004 N 10,042,183.00 10,031,227.47 04/10/2003
255999598 01/01/2009 01/21/2029 N 9,875,248.91 9,863,204.13 12/10/2004
480000029 N/A 03/10/2009 N 9,699,903.73 9,689,086.36 12/10/2004
480000030 N/A 05/10/2009 N 9,710,808.27 9,700,219.11 12/10/2004
355132452 N/A 08/01/2018 N 8,241,685.22 8,212,054.15 12/10/2004
480000032 N/A 07/10/2008 N 9,029,530.52 9,017,718.61 12/10/2004
480000033 N/A 04/10/2009 N 8,809,610.98 8,798,235.61 12/10/2004
480000034 12/10/2008 12/10/2028 N 8,506,938.31 8,495,257.71 12/10/2004
480000035 N/A 03/10/2009 N 8,591,613.33 8,582,031.91 12/10/2004
265300042 N/A 03/01/2009 N 8,535,903.25 8,526,553.86 12/10/2004
255999747 N/A 07/01/2008 N 8,253,519.35 8,239,761.54 12/10/2004
265300018 N/A 02/01/2009 N 8,437,890.83 8,427,831.69 11/10/2004
480000039 N/A 11/10/2008 N 7,334,750.14 7,319,756.98 12/10/2004
825999751 N/A 01/01/2019 N 7,214,851.53 7,196,997.68 12/10/2004
480000041 12/10/2008 12/10/2028 N 7,298,302.18 7,288,281.11 12/10/2004
480000042 12/10/2008 12/10/2028 N 7,298,302.18 7,288,281.11 12/10/2004
480000043 N/A 04/10/2009 N 7,284,506.07 7,275,099.98 12/10/2004
265300052 N/A 04/01/2009 N 6,877,478.78 6,869,919.66 12/10/2004
265300025 N/A 04/01/2009 N 6,591,690.62 6,584,549.42 12/10/2004
265300007 N/A 02/01/2009 N 6,090,017.82 6,078,546.44 12/10/2004
480000047 N/A 06/10/2009 N 6,309,401.68 6,302,372.67 12/10/2004
480000048 N/A 07/10/2008 N 6,220,722.54 6,212,687.37 12/10/2004
265300060 N/A 04/01/2009 N 6,119,329.27 6,112,615.53 12/10/2004
255999680 N/A 07/01/2008 N 5,579,332.70 5,566,663.33 12/10/2004
265300016 N/A 03/01/2009 N 5,910,071.69 5,902,569.89 12/10/2004
480000052 12/10/2008 12/10/2028 N 5,857,236.30 5,849,193.92 12/10/2004
255999829 N/A 10/01/2008 N 5,880,632.93 5,873,179.03 12/10/2004
825999708 N/A 06/01/2016 N 5,004,337.99 4,880,660.22 12/10/2004
265999995 N/A 01/01/2009 N 5,902,406.31 5,895,674.07 12/10/2004
255999783 N/A 09/01/2008 N 5,432,627.05 5,421,494.86 12/10/2004
255999600 N/A 06/01/2008 N 5,203,003.82 5,192,730.39 12/10/2004
480000058 12/10/2008 12/10/2028 N 5,345,890.08 5,338,549.81 12/10/2004
480000059 N/A 03/10/2009 N 5,418,305.21 5,412,262.69 12/10/2004
265300073 N/A 05/01/2009 N 5,191,146.79 5,184,960.32 12/10/2004
480000061 N/A 06/10/2009 N 5,208,814.20 5,203,011.30 12/10/2004
825999870 N/A 10/01/2018 N 4,786,264.36 4,774,286.33 12/10/2004
255999781 N/A 09/01/2008 N 4,871,279.16 4,861,297.25 12/10/2004
255999950 N/A 01/01/2009 N 5,091,425.18 5,085,489.01 12/10/2004
265999999 N/A 01/01/2014 N 4,203,659.67 4,180,104.54 12/10/2004
255999936 N/A 10/01/2008 N 4,712,173.33 4,702,626.26 12/10/2004
265300066 N/A 04/01/2009 N 4,921,268.58 4,915,672.75 12/10/2004
265300010 N/A 04/01/2009 N 4,778,682.85 4,770,368.37 12/10/2004
480000069 12/10/2008 12/10/2028 N 4,811,300.86 4,804,694.61 12/10/2004
255999917 N/A 10/01/2008 N 4,832,633.59 4,826,685.79 12/10/2004
480000071 N/A 02/10/2009 N 4,619,791.45 4,610,839.54 12/10/2004
480000072 12/10/2008 12/10/2028 N 4,741,571.98 4,735,061.48 12/10/2004
480000073 N/A 12/10/2008 N 4,778,519.53 4,773,394.59 12/10/2004
245114243 N/A 03/01/2020 N 4,371,355.80 4,358,913.55 12/10/2004
255999833 N/A 11/01/2008 N 4,609,807.97 4,602,956.67 12/10/2004
255999780 N/A 09/01/2008 N 4,465,712.63 4,456,561.78 12/10/2004
265999981 N/A 12/01/2008 N 4,655,208.80 4,649,630.52 12/10/2004
255999948 N/A 10/01/2008 N 4,261,006.88 4,251,677.39 12/10/2004
480000079 N/A 03/10/2009 N 4,205,817.88 4,201,127.54 12/10/2004
255999726 N/A 07/01/2008 N 3,761,049.63 3,748,351.55 12/10/2004
480000081 N/A 05/10/2009 N 4,183,718.29 4,179,238.16 12/10/2004
265300033 N/A 03/01/2009 N 4,155,752.41 4,151,302.75 12/10/2004
480000083 N/A 02/10/2009 N 3,940,410.23 3,932,774.78 12/10/2004
480000084 12/10/2008 12/10/2028 N 4,044,281.98 4,038,728.90 12/10/2004
265999978 N/A 12/01/2008 N 4,147,480.91 4,143,336.45 12/10/2004
480000086 N/A 12/10/2008 N 4,048,119.53 4,043,698.72 12/10/2004
825999709 N/A 06/01/2016 N 3,396,883.97 3,312,882.99 12/10/2004
265300029 N/A 04/01/2009 N 3,811,869.41 3,805,057.13 12/10/2004
245114242 N/A 03/01/2020 N 3,580,982.24 3,570,789.65 12/10/2004
265300040 N/A 03/01/2009 N 3,793,614.89 3,787,251.27 12/10/2004
480000091 N/A 01/10/2009 N 3,886,409.61 3,882,203.90 12/10/2004
825999748 N/A 08/01/2020 N 3,696,811.93 3,689,498.22 09/01/2003
255999954 N/A 11/01/2008 N 3,844,323.99 3,839,580.88 12/10/2004
480000094 N/A 03/10/2009 N 3,864,805.49 3,860,495.44 12/10/2004
825999697 N/A 06/01/2016 N 3,245,237.36 3,165,034.19 12/10/2004
265300000 N/A 04/01/2009 N 3,749,315.56 3,745,231.61 12/10/2004
265300034 N/A 04/01/2009 N 3,300,209.60 3,290,153.13 12/10/2004
265300044 N/A 04/01/2009 N 3,559,906.71 3,556,036.06 12/10/2004
480000099 N/A 11/10/2008 N 3,476,369.68 3,472,549.11 12/10/2004
480000100 N/A 05/10/2009 N 3,479,509.74 3,475,931.15 12/10/2004
265300058 N/A 04/01/2009 N 3,430,876.81 3,427,364.90 12/10/2004
480000103 N/A 06/10/2009 N 3,345,638.57 3,342,329.03 12/10/2004
255999931 N/A 10/01/2008 N 3,266,787.43 3,262,558.10 12/10/2004
480000105 N/A 11/10/2008 N 3,211,652.31 3,207,341.22 12/10/2004
480000106 N/A 05/10/2009 N 3,134,884.42 3,131,557.91 12/10/2004
255999965 N/A 11/01/2023 N 2,973,291.97 2,967,402.98 12/10/2004
255999563 N/A 05/01/2008 N 2,998,362.96 2,994,438.32 12/10/2004
825999678 N/A 06/01/2016 N 2,540,080.67 2,477,304.83 12/10/2004
480000110 N/A 08/10/2013 N 2,265,725.34 2,250,003.17 12/10/2004
825999696 N/A 06/01/2016 N 2,471,839.70 2,410,750.37 12/10/2004
255999804 N/A 08/01/2008 N 2,886,530.27 2,882,743.98 12/10/2004
825999591 N/A 06/01/2020 N 2,750,905.91 2,745,514.01 12/10/2004
265300069 N/A 04/01/2009 N 2,788,261.33 2,783,928.09 12/10/2004
480000115 N/A 02/10/2009 N 2,848,658.69 2,845,636.81 12/10/2004
480000116 N/A 02/10/2009 N 2,783,183.72 2,780,095.93 12/10/2004
265999979 N/A 11/01/2008 N 2,784,285.58 2,781,274.80 12/10/2004
255999650 N/A 08/01/2013 N 2,367,088.18 2,358,722.64 12/10/2004
825999914 N/A 11/01/2018 N 2,340,676.35 2,332,235.13 12/10/2004
265300074 N/A 04/01/2009 N 2,648,587.55 2,645,554.49 12/10/2004
480000121 N/A 06/10/2009 N 2,637,614.88 2,634,676.44 12/10/2004
825999588 N/A 06/01/2020 N 2,496,841.92 2,491,948.00 12/10/2004
245114238 N/A 03/01/2020 N 2,354,922.11 2,348,219.27 12/10/2004
265300081 N/A 05/01/2009 N 2,519,076.98 2,515,435.40 12/10/2004
825999906 N/A 09/01/2018 N 2,224,694.85 2,216,555.11 12/10/2004
255999947 N/A 11/01/2008 N 2,251,323.85 2,243,491.09 12/10/2004
825999874 N/A 12/01/2013 N 2,185,357.43 2,176,894.63 12/10/2004
265999982 N/A 02/01/2009 N 2,419,027.23 2,414,633.90 12/10/2004
255999933 N/A 12/01/2008 N 2,477,149.86 2,474,370.95 12/10/2004
255999782 N/A 09/01/2008 N 2,350,138.92 2,345,323.16 12/10/2004
265300008 N/A 02/01/2009 N 2,447,211.09 2,444,273.45 12/10/2004
825114249 N/A 12/01/2018 N 2,157,980.76 2,150,529.42 12/10/2004
265300041 N/A 04/01/2009 N 2,437,179.50 2,434,642.99 12/10/2004
825114317 N/A 01/01/2019 N 2,303,111.06 2,297,145.51 12/10/2004
825999895 N/A 10/01/2018 N 2,126,305.45 2,118,597.25 12/10/2004
265300013 N/A 02/01/2009 N 2,318,914.35 2,314,563.28 12/10/2004
825999574 N/A 06/01/2020 N 2,299,697.67 2,295,529.23 12/10/2004
265300064 N/A 04/01/2009 N 2,387,761.82 2,385,046.77 12/10/2004
265300062 N/A 04/01/2009 N 2,391,968.06 2,389,362.60 12/10/2004
265300028 N/A 03/01/2009 N 2,378,745.74 2,375,960.10 12/10/2004
265300055 N/A 03/01/2009 N 2,367,843.94 2,365,198.56 12/10/2004
245114237 N/A 03/01/2020 N 2,140,916.27 2,134,822.56 12/10/2004
265300032 N/A 03/01/2009 N 2,327,221.57 2,324,729.76 12/10/2004
265300017 N/A 02/01/2009 N 2,311,116.99 2,308,378.47 12/10/2004
825999929 N/A 08/01/2018 N 2,042,855.46 2,035,675.84 12/10/2004
265300035 N/A 03/01/2009 N 2,216,458.42 2,212,803.75 12/10/2004
825999592 N/A 06/01/2020 N 2,170,200.07 2,166,266.37 12/10/2004
480000148 N/A 04/10/2009 N 2,194,979.17 2,192,641.87 12/10/2004
265999990 N/A 12/01/2008 N 2,150,139.96 2,147,727.90 12/10/2004
245114239 N/A 03/01/2020 N 1,969,540.27 1,963,934.35 12/10/2004
255999890 N/A 11/01/2008 N 2,020,111.38 2,016,002.71 12/10/2004
265999998 N/A 01/01/2009 N 2,070,872.38 2,068,404.77 12/10/2004
265300019 N/A 02/01/2009 N 1,994,251.04 1,990,770.03 12/10/2004
265300047 N/A 04/01/2009 N 2,045,888.28 2,043,743.31 12/10/2004
255999651 N/A 08/01/2013 N 1,779,454.08 1,773,165.30 12/10/2004
480000156 N/A 03/10/2009 N 2,002,253.20 2,000,230.47 12/10/2004
255999966 N/A 12/01/2008 N 1,961,187.29 1,958,627.75 12/10/2004
265300022 N/A 03/01/2009 N 1,960,722.70 1,958,383.92 12/10/2004
265300014 N/A 02/01/2009 N 1,876,045.91 1,873,593.51 12/10/2004
265300020 N/A 03/01/2009 N 1,706,818.74 1,701,349.22 12/10/2004
245114188 N/A 03/01/2028 N 1,865,075.88 1,862,742.75 12/10/2004
255999988 N/A 11/01/2008 N 1,835,939.70 1,833,526.06 12/10/2004
265300051 N/A 03/01/2009 N 1,773,166.76 1,770,243.03 12/10/2004
265999993 N/A 03/01/2009 N 1,734,868.66 1,731,623.58 12/10/2004
265999991 N/A 03/01/2009 N 1,771,860.01 1,769,798.90 12/10/2004
265999975 N/A 11/01/2008 N 1,777,280.91 1,775,486.70 12/10/2004
265300026 N/A 03/01/2009 N 1,765,119.81 1,763,356.58 12/10/2004
815114264 N/A 05/01/2018 N 1,567,067.85 1,561,725.29 12/10/2004
825999776 N/A 12/01/2018 N 1,531,396.89 1,525,942.07 12/10/2004
480000170 N/A 11/10/2008 N 1,672,636.07 1,670,345.83 12/10/2004
255999603 N/A 06/01/2008 N 1,515,270.34 1,510,337.16 12/10/2004
265300049 N/A 04/01/2009 N 1,611,721.99 1,609,172.82 12/10/2004
255999951 N/A 10/01/2005 N 1,604,651.37 1,602,702.74 12/10/2004
825999949 N/A 07/01/2018 N 1,446,424.90 1,441,566.49 12/10/2004
265999977 N/A 12/01/2008 N 1,544,003.52 1,541,296.35 12/10/2004
265300065 N/A 04/01/2009 N 1,514,236.57 1,512,514.78 12/10/2004
265300039 N/A 04/01/2009 N 1,473,511.32 1,470,998.99 12/10/2004
825999797 N/A 05/01/2018 N 1,335,252.63 1,331,120.47 12/10/2004
265300063 N/A 04/01/2009 N 1,446,224.88 1,444,705.83 12/10/2004
245114240 N/A 03/01/2020 N 1,313,026.52 1,309,289.23 12/10/2004
265999983 N/A 12/01/2008 N 1,417,675.07 1,416,084.71 12/10/2004
255999987 N/A 11/01/2008 N 1,335,228.82 1,333,473.45 12/10/2004
255999727 N/A 04/01/2009 N 1,321,779.10 1,320,224.92 12/10/2004
265300056 N/A 03/01/2009 N 1,325,992.91 1,324,511.50 12/10/2004
825999800 N/A 05/01/2023 N 1,304,996.16 1,303,051.26 12/10/2004
265999994 N/A 03/01/2009 N 1,201,621.41 1,199,373.77 12/10/2004
825114352 N/A 01/01/2013 N 973,979.20 967,189.23 12/10/2004
895096319 N/A 02/01/2029 N 1,027,888.88 1,026,884.11 12/10/2004
265300027 N/A 03/01/2009 N 935,763.76 933,062.99 12/10/2004
805114051 N/A 12/01/2012 N 847,487.47 842,318.71 12/10/2004
255999970 N/A 11/01/2008 N 1,001,421.65 1,000,105.12 12/10/2004
825999672 N/A 06/01/2016 N 834,056.34 813,443.38 12/10/2004
265300054 N/A 03/01/2009 N 852,424.15 851,471.82 12/10/2004
255999986 N/A 11/01/2008 N 721,856.19 720,907.19 12/10/2004
265300031 N/A 03/01/2009 N 709,097.88 708,285.63 12/10/2004
255999969 N/A 11/01/2008 N 481,237.78 480,605.12 12/10/2004
265300012 N/A 02/01/2009 N 387,111.29 386,558.82 12/10/2004
Totals 1,030,032,380.66 1,028,039,882.56
Loan Appraisal Appraisal Res. Mod.
Number Reduction Reduction Strat. Code
Date Amount (2) (3)
<s> <c> <c> <c> <c>
480000027 05/11/2004 603,331.43 2
265999999 13
825999748 05/11/2004 3,140,854.47 10
265300062 13
Totals 3,744,185.90
<FN>
(1) Property Type Code
MF - Multi-Family
RT - Retail
HC - Health Care
IN - Industrial
WH - Warehouse
MH - Mobile Home Park
OF - Office
MU - Mixed Use
LO - Lodging
SS - Self Storage
OT - Other
(2) Resolution Strategy Code
1 - Modification
2 - Foreclosure
3 - Bankruptcy
4 - Extension
5 - Note Sale
6 - DPO
7 - REO
8 - Resolved
9 - Pending Return to Master Servicer
10 - Deed In Lieu Of Foreclosure
11 - Full Payoff
12 - Reps and Warranties
13 - Other or TBD
(3) Modification Code
1 - Maturity Date Extension
2 - Amortization Change
3 - Principal Write-Off
4 - Combination
</FN>
Principal Prepayment Detail
No Principal Prepayments this Period
Historical Detail
Delinquencies
Distribution 30-59 Days 60-89 Days 90 Days or More
Date # Balance # Balance # Balance
<s> <c> <c> <c> <c> <c> <c>
12/17/2004 0 $0.00 0 $0.00 0 $0.00
11/18/2004 0 $0.00 0 $0.00 0 $0.00
10/18/2004 0 $0.00 0 $0.00 2 $13,754,959.36
09/17/2004 0 $0.00 0 $0.00 2 $13,773,002.60
08/17/2004 0 $0.00 0 $0.00 2 $13,788,738.29
07/16/2004 1 $4,062,884.49 0 $0.00 2 $13,804,368.15
06/17/2004 0 $0.00 0 $0.00 2 $13,822,085.10
05/17/2004 0 $0.00 0 $0.00 2 $13,837,490.67
04/16/2004 0 $0.00 0 $0.00 2 $13,854,988.95
03/17/2004 0 $0.00 0 $0.00 2 $13,870,173.21
02/18/2004 0 $0.00 0 $0.00 2 $13,889,657.03
01/16/2004 0 $0.00 0 $0.00 2 $13,904,608.10
Distribution Foreclosure REO Modifications
Date # Balance # Balance # Balance
<s> <c> <c> <c> <c> <c> <c>
12/17/2004 1 $10,031,227.47 1 $3,689,498.22 0 $0.00
11/18/2004 1 $10,042,183.00 1 $3,696,811.93 0 $0.00
10/18/2004 0 $0.00 0 $0.00 0 $0.00
09/17/2004 0 $0.00 0 $0.00 0 $0.00
08/17/2004 0 $0.00 0 $0.00 0 $0.00
07/16/2004 0 $0.00 0 $0.00 0 $0.00
06/17/2004 0 $0.00 0 $0.00 0 $0.00
05/17/2004 0 $0.00 0 $0.00 0 $0.00
04/16/2004 0 $0.00 0 $0.00 0 $0.00
03/17/2004 0 $0.00 0 $0.00 0 $0.00
02/18/2004 0 $0.00 0 $0.00 0 $0.00
01/16/2004 0 $0.00 0 $0.00 0 $0.00
Prepayments Rate and Maturities
Distribution Curtailments Payoff Next Weighted Avg. WAM
Date # Amount # Amount Coupon Remit
<s> <c> <c> <c> <c> <c> <c> <c>
12/17/2004 0 $0.00 0 $0.00 7.339823% 7.250415% 60
11/18/2004 0 $0.00 0 $0.00 7.339736% 7.252609% 62
10/18/2004 0 $0.00 0 $0.00 7.339689% 7.252566% 63
09/17/2004 0 $0.00 0 $0.00 7.339646% 7.252526% 64
08/17/2004 0 $0.00 0 $0.00 7.339599% 7.252484% 65
07/16/2004 0 $0.00 0 $0.00 7.339553% 7.254594% 66
06/17/2004 0 $0.00 0 $0.00 7.339510% 7.255133% 67
05/17/2004 0 $0.00 0 $0.00 7.339427% 7.255014% 68
04/16/2004 0 $0.00 0 $0.00 7.339383% 7.254974% 69
03/17/2004 0 $0.00 0 $0.00 7.339337% 7.254932% 70
02/18/2004 0 $0.00 0 $0.00 7.339297% 7.254895% 71
01/16/2004 0 $0.00 0 $0.00 7.339251% 7.254852% 72
<FN>
Note: Foreclosure and REO Totals are excluded from the delinquencies aging
categories.
</FN>
Delinquency Loan Detail
Offering # of Paid Through Current Outstanding Status of
Loan Number Document Months Date P & I P & I Mortgage
Cross- Delinq. Advances Advances ** Loan (1)
Reference
<s> <c> <c> <c> <c> <c> <c>
480000027 27 19 04/10/2003 72,305.75 1,373,975.26 7
265300018 38 0 11/10/2004 61,249.01 61,249.01 B
825999748 92 14 09/01/2003 10,978.64 272,918.61 9
Totals 3 144,533.40 1,708,142.88
Resolution Servicing Actual Outstanding
Loan Strategy Transfer Foreclosure Principal Servicing Bankruptcy REO
Number Code (2) Date Date Balance Advances Date Date
<s> <c> <c> <c> <c> <c> <c> <c>
480000027 2 05/22/2003 10,173,605.33 9,178.86
265300018 8,437,890.83 0.00
825999748 10 09/26/2003 3,794,195.73 219,118.83
Totals 22,405,691.89 228,297.69
Current Outstanding Actual Outstanding
P & I P & I Principal Servicing
Advances Advances** Balance Advances
<s> <c> <c> <c> <c>
Totals By Delinquency Code:
Total for Status Code = 7 (1 loan) 72,305.75 1,373,975.26 10,173,605.33 9,178.86
Total for Status Code = 9 (1 loan) 10,978.64 272,918.61 3,794,195.73 219,118.83
Total for Status Code = B (1 loan) 61,249.01 61,249.01 8,437,890.83 0.00
<FN>
(1) Status of Mortgage Loan
A - Payment Not Received But Still In Grace Period
B - Late Payment But Less Than 1 Month Delinquent
0 - Current
1 - One Month Delinquent
2 - Two Months Delinquent
3 - Three or More Months Delinquent
4 - Assumed Scheduled Payment (Performing Matured Balloon)
7 - Foreclosure
9 - REO
(2) Resolution Strategy Code
1 - Modification
2 - Foreclosure
3 - Bankruptcy
4 - Extension
5 - Note Sale
6 - DPO
7 - REO
8 - Resolved
9 - Pending Return to Master Servicer
10 - Deed In Lieu Of Foreclosure
11 - Full Payoff
12 - Reps and Warranties
13 - Other or TBD
** Outstanding P & I Advances include the current period advance.
</FN>
Specially Serviced Loan Detail - Part 1
Offering Servicing Resolution Scheduled Property Interest Actual
Loan Document Transfer Strategy Balance Type (2) State Rate Balance
Number Cross Date Code (1)
Reference
<s> <c> <c> <c> <c> <c> <c> <c> <c>
480000027 27 05/22/2003 2 10,031,227.47 RT CT 7.875% 10,173,605.33
265999999 65 09/18/2003 13 4,180,104.54 HC NY 9.375% 4,180,104.54
825999748 92 09/26/2003 10 3,689,498.22 RT IA 8.110% 3,794,195.73
265300062 139 07/01/2004 13 2,389,362.60 MH CA 7.750% 2,389,362.60
Net Remaining
Loan Operating DSCR Note Maturity Amortization
Number Income Date DSCR Date Date Term
<s> <c> <c> <c> <c> <c> <c>
480000027 1,273,784.00 12/31/2002 1.38 02/10/1999 01/10/2004 288
265999999 1,025,677.00 12/31/2002 1.52 02/01/1999 01/01/2014 108
825999748 399,524.40 09/01/1998 08/01/2020 219
265300062 58,889.58 03/31/2004 1.09 05/01/1999 04/01/2009 291
<FN>
(1) Resolution Strategy Code
1 - Modification
2 - Foreclosure
3 - Bankruptcy
4 - Extension
5 - Note Sale
6 - DPO
7 - REO
8 - Resolved
9 - Pending Return to Master Servicer
10 - Deed in Lieu Of Foreclosure
11 - Full Payoff
12 - Reps and Warranties
13 - Other or TBD
(2) Property Type Code
MF - Multi-Family
RT - Retail
HC - Health Care
IN - Industrial
WH - Warehouse
MH - Mobile Home Park
OF - Office
MU - Mixed Use
LO - Lodging
SS - Self Storage
OT - Other
</FN>
Specially Serviced Loan Detail - Part 2
Offering
Document Resolution Site Other REO
Loan Cross Strategy Inspection Phase 1 Appraisal Appraisal Property
Number Reference Code (1) Date Date Date Value Revenue
<s> <c> <c> <c> <c> <c> <c> <c>
480000027 27 2 11/10/2003 11,500,000.00
265999999 65 13 10/08/1998 12,360,000.00
825999748 92 10 11/17/2003 1,000,000.00
265300062 139 13 02/05/1999 3,150,000.00
Loan
Number Comments from Special Servicer
<s> <c>
480000027 Counsel is filing the motion for summary judgment (getting affidavits executed). A
hearing would be held within 30 days from that point and foreclosure would be pursued as
allowed by the court system. The receiver remains in place and the property genera ted a
negative cash flow of $39M for YTD 6/30/04 (after normalizing taxes and insurance for the
pro-rated period) from revenues of $341M. The property is 40% occupied with the large
KMart space (51% of NRA) still vacant. The judge has granted the receiver the ability
to engage a leasing agent and discussions are underway with a prospective leasing agent.
265999999 The loan remains current with regard to its monthly payments. The borrower was unable to
obtain liability insurance that complies wholly with the loan documents and the master
service was not able to obtain force placed supplemental coverage to bring the coverage
into compliance. A short term waiver (one year reduction) was approved and had been
executed by the obligor. The loan will likely be returned in January 2005 after its
monthly payment is made.
825999748 The property is under contract to close on or before December 20, 2004. Preliminary
timetable has a scheduled close of December 16, 2004. The property is currently managed
and marketed by Ruhl and Ruhl Commercial and the building is vacant at this time. The
property became REO via a deed in lieu of foreclosure on June 9, 2004. A claim has been
filed in the Eagle bankruptcy for the unexpired lease obligation and that bankruptcy is
being monitored. The current advance ratio is approximately 48.2%.
265300062 No comments available.
<FN>
(1) Resolution Strategy Code
1 - Modification
2 - Foreclosure
3 - Bankruptcy
4 - Extension
5 - Note Sale
6 - DPO
7 - REO
8 - Resolved
9 - Pending Return to Master Servicer
10 - Deed in Lieu Of Foreclosure
11 - Full Payoff
12 - Reps and Warranties
13 - Other or TBD
</FN>
Modified Loan Detail
No Modified Loans
Liquidated Loan Detail
Loan Final Offering Appraisal Appraisal Actual Gross Gross Proceeds
Number Recovery Document Date Value Balance Proceeds as a % of
Determination Cross Actual Balance
Date Reference
<s> <c> <c> <c> <c> <c> <c> <c>
265999976 10/10/2003 20 03/27/2003 9,500,000.00 12,492,427.46 5,996,831.69 48.004%
255999856 09/04/2002 174 04/13/2001 2,000,000.00 1,609,506.89 1,609,506.89 100.000%
255999846 06/26/2002 179 11/04/2000 2,000,000.00 1,485,167.94 1,482,811.83 99.841%
255999850 11/26/2002 183 11/15/2000 1,800,000.00 1,426,093.70 1,426,093.70 100.000%
255999848 05/23/2002 185 04/11/2001 1,400,000.00 1,422,544.47 1,420,595.65 99.863%
255999859 09/20/2002 187 04/13/2001 1,970,000.00 1,350,087.94 1,350,087.94 100.000%
255999852 09/06/2002 191 11/11/2000 1,700,000.00 1,269,725.66 1,269,725.66 100.000%
255999843 194 04/06/2001 1,160,000.00 1,232,145.20 1,230,484.99 99.865%
255999838 195 04/02/2001 550,000.00 1,232,145.20 1,230,484.99 99.865%
255999839 09/27/2002 196 04/06/2001 1,260,000.00 1,221,508.12 1,221,508.12 100.000%
255999860 10/28/2002 197 03/29/2001 900,000.00 1,203,482.04 1,203,482.04 100.000%
255999847 11/25/2002 198 11/15/2000 2,415,000.00 1,201,764.23 1,201,764.23 100.000%
255999842 10/11/2002 199 04/02/2001 750,000.00 1,187,435.95 1,187,435.95 100.000%
255999844 09/27/2002 200 04/09/2001 2,170,000.00 1,189,363.36 1,189,363.36 100.000%
255999849 02/28/2003 201 11/11/2000 1,900,000.00 1,180,343.98 1,180,343.98 100.000%
255999841 05/31/2002 202 04/03/2001 1,150,000.00 1,180,065.09 1,178,448.45 99.863%
255999837 09/30/2002 203 03/14/2001 760,000.00 1,155,343.27 1,155,343.27 100.000%
255999855 09/12/2002 204 04/03/2001 1,190,000.00 1,157,218.59 1,157,218.59 100.000%
255999845 08/09/2002 205 04/13/2001 1,370,000.00 1,160,461.76 1,158,845.33 99.861%
255999836 09/27/2002 206 11/09/2000 1,050,000.00 1,141,145.87 1,141,145.87 100.000%
255999858 09/27/2002 207 04/03/2001 995,000.00 1,123,249.97 1,123,249.97 100.000%
255999851 11/14/2002 208 11/11/2000 1,000,000.00 1,105,623.53 1,105,623.53 100.000%
255999857 09/27/2002 209 11/17/2000 1,000,000.00 1,109,001.09 1,109,001.09 100.000%
255999840 05/10/2002 210 11/19/2000 820,000.00 1,099,238.79 1,097,732.88 99.863%
255999853 09/27/2002 211 04/07/2001 1,180,000.00 1,060,783.61 1,060,783.61 100.000%
255999854 09/27/2002 212 04/13/2001 1,380,000.00 1,044,710.90 1,044,710.90 100.000%
255999830 09/27/2002 213 04/12/2001 1,135,000.00 1,044,710.90 1,044,710.90 100.000%
Current Total 0.00 0.00 0.00
Cumulative Total 44,505,000.00 44,085,295.51 37,577,335.41
Liquidated Loan Detail
Loan Aggregate Net Net Proceeds Realized Repurchased
Number Liquidation Liquidation as a % of Loss by Seller
Expenses * Proceeds Actual Balance (Y/N)
<s> <c> <c> <c> <c> <c>
265999976 578,017.92 5,418,813.77 43.377% 6,791,926.24 N
255999856 0.00 1,609,506.89 100.000% 0.00 N
255999846 0.00 1,482,811.83 99.841% 0.00 N
255999850 0.00 1,426,093.70 100.000% 0.00 N
255999848 0.00 1,420,595.65 99.863% 0.00 N
255999859 0.00 1,350,087.94 100.000% 0.00 N
255999852 0.00 1,269,725.66 100.000% 0.00 N
255999843 0.00 1,230,484.99 99.865% 0.00 N
255999838 0.00 1,230,484.99 99.865% 0.00 N
255999839 0.00 1,221,508.12 100.000% 0.00 N
255999860 0.00 1,203,482.04 100.000% 0.00 N
255999847 0.00 1,201,764.23 100.000% 0.00 N
255999842 0.00 1,187,435.95 100.000% 0.00 N
255999844 0.00 1,189,363.36 100.000% 0.00 N
255999849 0.00 1,180,343.98 100.000% 0.00 N
255999841 0.00 1,178,448.45 99.863% 0.00 N
255999837 0.00 1,155,343.27 100.000% 0.00 N
255999855 0.00 1,157,218.59 100.000% 0.00 N
255999845 0.00 1,158,845.33 99.861% 0.00 N
255999836 0.00 1,141,145.87 100.000% 0.00 N
255999858 0.00 1,123,249.97 100.000% 0.00 N
255999851 0.00 1,105,623.53 100.000% 0.00 N
255999857 0.00 1,109,001.09 100.000% 0.00 N
255999840 0.00 1,097,732.88 99.863% 0.00 N
255999853 0.00 1,060,783.61 100.000% 0.00 N
255999854 0.00 1,044,710.90 100.000% 0.00 N
255999830 0.00 1,044,710.90 100.000% 0.00 N
Current Total 0.00 0.00 0.00
Cumulative Total 578,017.92 36,999,317.49 6,791,926.24
<FN>
* Aggregate liquidation expenses also include outstanding P & I advances
and unpaid fees (servicing, trustee, etc.).
</FN>