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): February 25, 2005
BANC OF AMERICA ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2005-1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-11
Pooling and Servicing Agreement) (Commission 54-2165628
(State or other File Number) 54-2165629
jurisdiction IRS EIN
of Incorporation)
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(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 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 February 25, 2005 a distribution was made to holders of BANC OF AMERICA
ALTERNATIVE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2005-1
Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Mortgage Pass-Through Certificates,
Series 2005-1 Trust, relating to the
February 25, 2005 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.
BANC OF AMERICA ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2005-1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 3/1/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2005-1 Trust,
relating to the February 25, 2005 distribution.
EX-99.1
Banc of America Alternative Loan Trust
Mortgage Pass-Through Certificates
Record Date: 1/31/2005
Distribution Date: 2/25/2005
Banc of America Alternative Loan Trust
Mortgage Pass-Through Certificates
Series 2005-1
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<s> <c> <c> <c> <c> <c> <c>
1-CB-1 05949AK66 SEN 5.25000% 183,469,000.00 802,676.88 1,380,638.54
1-CB-R 05949AL32 SEN 5.50000% 50.00 0.56 50.00
1-CB-LR 05949AL40 SEN 5.50000% 50.00 0.23 50.00
1-CB-2 05949AK74 SEN 5.50000% 23,189,000.00 106,282.92 0.00
1-CB-3 05949AK82 SEN 5.50000% 0.00 38,222.71 0.00
1-CB-4 05949AK90 SEN 5.50000% 10,000,000.00 45,833.33 0.00
1-CB-5 05949AL24 SEN 5.50000% 4,639,000.00 21,262.08 0.00
CB-IO 05949AL57 SEN 5.50000% 0.00 71,509.56 0.00
2-A-1 05949AL99 SEN 5.50000% 42,857,000.00 196,427.92 384,934.21
30-PO 05949AL65 PO 0.00000% 272,074.89 0.00 325.23
15-IO 05949AL81 SEN 5.50000% 0.00 1,673.92 0.00
15-PO 05949AL73 PO 0.00000% 1,719,983.14 0.00 9,861.52
B-1 05949AM23 SUB 5.50000% 5,850,000.00 26,812.50 8,303.54
B-2 05949AM31 SUB 5.50000% 2,089,000.00 9,574.58 2,965.14
B-3 05949AM49 SUB 5.50000% 1,392,000.00 6,380.00 1,975.82
B-4 05949AM56 SUB 5.50000% 1,115,000.00 5,110.42 1,582.64
B-5 05949AM64 SUB 5.50000% 835,000.00 3,827.08 1,185.21
B-6 05949AM72 SUB 5.50000% 1,114,926.00 5,110.08 1,582.54
Totals 278,542,084.03 1,340,704.77 1,793,454.39
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-CB-1 0.00 182,088,361.46 2,183,315.42 0.00
1-CB-R 0.00 0.00 50.56 0.00
1-CB-LR 0.00 0.00 50.23 0.00
1-CB-2 0.00 23,189,000.00 106,282.92 0.00
1-CB-3 0.00 0.00 38,222.71 0.00
1-CB-4 0.00 10,000,000.00 45,833.33 0.00
1-CB-5 0.00 4,639,000.00 21,262.08 0.00
CB-IO 0.00 0.00 71,509.56 0.00
2-A-1 0.00 42,472,065.79 581,362.13 0.00
30-PO 0.00 271,749.66 325.23 0.00
15-IO 0.00 0.00 1,673.92 0.00
15-PO 0.00 1,710,121.62 9,861.52 0.00
B-1 0.00 5,841,696.46 35,116.04 0.00
B-2 0.00 2,086,034.86 12,539.72 0.00
B-3 0.00 1,390,024.18 8,355.82 0.00
B-4 0.00 1,113,417.36 6,693.06 0.00
B-5 0.00 833,814.79 5,012.29 0.00
B-6 0.00 1,113,343.46 6,692.62 0.00
Totals 0.00 276,748,629.64 3,134,159.16 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
1-CB-1 183,469,000.00 183,469,000.00 217,873.22 1,162,765.33 0.00 0.00
1-CB-R 50.00 50.00 7.89 42.11 0.00 0.00
1-CB-LR 50.00 50.00 7.89 42.11 0.00 0.00
1-CB-2 23,189,000.00 23,189,000.00 0.00 0.00 0.00 0.00
1-CB-3 0.00 0.00 0.00 0.00 0.00 0.00
1-CB-4 10,000,000.00 10,000,000.00 0.00 0.00 0.00 0.00
1-CB-5 4,639,000.00 4,639,000.00 0.00 0.00 0.00 0.00
CB-IO 0.00 0.00 0.00 0.00 0.00 0.00
2-A-1 42,857,000.00 42,857,000.00 153,458.48 231,475.74 0.00 0.00
30-PO 272,074.89 272,074.89 300.83 24.40 0.00 0.00
15-IO 0.00 0.00 0.00 0.00 0.00 0.00
15-PO 1,719,983.14 1,719,983.14 6,349.32 3,512.19 0.00 0.00
B-1 5,850,000.00 5,850,000.00 8,303.54 0.00 0.00 0.00
B-2 2,089,000.00 2,089,000.00 2,965.14 0.00 0.00 0.00
B-3 1,392,000.00 1,392,000.00 1,975.82 0.00 0.00 0.00
B-4 1,115,000.00 1,115,000.00 1,582.64 0.00 0.00 0.00
B-5 835,000.00 835,000.00 1,185.21 0.00 0.00 0.00
B-6 1,114,926.00 1,114,926.00 1,582.54 0.00 0.00 0.00
Totals 278,542,084.03 278,542,084.03 395,592.52 1,397,861.88 0.00 0.00
<FN>
(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.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
1-CB-1 1,380,638.54 182,088,361.46 0.99247481 1,380,638.54
1-CB-R 50.00 0.00 0.00000000 50.00
1-CB-LR 50.00 0.00 0.00000000 50.00
1-CB-2 0.00 23,189,000.00 1.00000000 0.00
1-CB-3 0.00 0.00 0.00000000 0.00
1-CB-4 0.00 10,000,000.00 1.00000000 0.00
1-CB-5 0.00 4,639,000.00 1.00000000 0.00
CB-IO 0.00 0.00 0.00000000 0.00
2-A-1 384,934.21 42,472,065.79 0.99101817 384,934.21
30-PO 325.23 271,749.66 0.99880463 325.23
15-IO 0.00 0.00 0.00000000 0.00
15-PO 9,861.52 1,710,121.62 0.99426650 9,861.52
B-1 8,303.54 5,841,696.46 0.99858059 8,303.54
B-2 2,965.14 2,086,034.86 0.99858059 2,965.14
B-3 1,975.82 1,390,024.18 0.99858059 1,975.82
B-4 1,582.64 1,113,417.36 0.99858059 1,582.64
B-5 1,185.21 833,814.79 0.99858059 1,185.21
B-6 1,582.54 1,113,343.46 0.99858059 1,582.54
Totals 1,793,454.39 276,748,629.64 0.99356128 1,793,454.39
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
1-CB-1 183,469,000.00 1000.00000000 1.18752062 6.33766647 0.00000000
1-CB-R 50.00 1000.00000000 157.80000000 842.20000000 0.00000000
1-CB-LR 50.00 1000.00000000 157.80000000 842.20000000 0.00000000
1-CB-2 23,189,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-CB-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-4 10,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-CB-5 4,639,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CB-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 42,857,000.00 1000.00000000 3.58070980 5.40111860 0.00000000
30-PO 272,074.89 1000.00000000 1.10568822 0.08968119 0.00000000
15-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
15-PO 1,719,983.14 1000.00000000 3.69150130 2.04199095 0.00000000
B-1 5,850,000.00 1000.00000000 1.41940855 0.00000000 0.00000000
B-2 2,089,000.00 1000.00000000 1.41940641 0.00000000 0.00000000
B-3 1,392,000.00 1000.00000000 1.41941092 0.00000000 0.00000000
B-4 1,115,000.00 1000.00000000 1.41940807 0.00000000 0.00000000
B-5 835,000.00 1000.00000000 1.41941317 0.00000000 0.00000000
B-6 1,114,926.00 1000.00000000 1.41941259 0.00000000 0.00000000
<FN>
(2) All classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
1-CB-1 0.00000000 7.52518703 992.47481297 0.99247481 7.52518703
1-CB-R 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000
1-CB-LR 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000
1-CB-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-CB-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-CB-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CB-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 0.00000000 8.98182817 991.01817183 0.99101817 8.98182817
30-PO 0.00000000 1.19536941 998.80463059 0.99880463 1.19536941
15-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
15-PO 0.00000000 5.73349806 994.26650194 0.99426650 5.73349806
B-1 0.00000000 1.41940855 998.58059145 0.99858059 1.41940855
B-2 0.00000000 1.41940641 998.58059359 0.99858059 1.41940641
B-3 0.00000000 1.41941092 998.58058908 0.99858059 1.41941092
B-4 0.00000000 1.41940807 998.58059193 0.99858059 1.41940807
B-5 0.00000000 1.41941317 998.58058683 0.99858059 1.41941317
B-6 0.00000000 1.41941259 998.58058741 0.99858059 1.41941259
<FN>
(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.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1-CB-1 183,469,000.00 5.25000% 183,469,000.00 802,676.88 0.00 0.00
1-CB-R 50.00 5.50000% 50.00 0.23 0.00 0.00
1-CB-LR 50.00 5.50000% 50.00 0.23 0.00 0.00
1-CB-2 23,189,000.00 5.50000% 23,189,000.00 106,282.92 0.00 0.00
1-CB-3 0.00 5.50000% 8,339,500.00 38,222.71 0.00 0.00
1-CB-4 10,000,000.00 5.50000% 10,000,000.00 45,833.33 0.00 0.00
1-CB-5 4,639,000.00 5.50000% 4,639,000.00 21,262.08 0.00 0.00
CB-IO 0.00 5.50000% 15,602,085.06 71,509.56 0.00 0.00
2-A-1 42,857,000.00 5.50000% 42,857,000.00 196,427.92 0.00 0.00
30-PO 272,074.89 0.00000% 272,074.89 0.00 0.00 0.00
15-IO 0.00 5.50000% 365,219.58 1,673.92 0.00 0.00
15-PO 1,719,983.14 0.00000% 1,719,983.14 0.00 0.00 0.00
B-1 5,850,000.00 5.50000% 5,850,000.00 26,812.50 0.00 0.00
B-2 2,089,000.00 5.50000% 2,089,000.00 9,574.58 0.00 0.00
B-3 1,392,000.00 5.50000% 1,392,000.00 6,380.00 0.00 0.00
B-4 1,115,000.00 5.50000% 1,115,000.00 5,110.42 0.00 0.00
B-5 835,000.00 5.50000% 835,000.00 3,827.08 0.00 0.00
B-6 1,114,926.00 5.50000% 1,114,926.00 5,110.08 0.00 0.00
Totals 278,542,084.03 1,340,704.44 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1-CB-1 0.00 0.00 802,676.88 0.00 182,088,361.46
1-CB-R 0.00 0.00 0.56 0.00 0.00
1-CB-LR 0.00 0.00 0.23 0.00 0.00
1-CB-2 0.00 0.00 106,282.92 0.00 23,189,000.00
1-CB-3 0.00 0.00 38,222.71 0.00 8,276,743.70
1-CB-4 0.00 0.00 45,833.33 0.00 10,000,000.00
1-CB-5 0.00 0.00 21,262.08 0.00 4,639,000.00
CB-IO 0.00 0.00 71,509.56 0.00 15,473,190.76
2-A-1 0.00 0.00 196,427.92 0.00 42,472,065.79
30-PO 0.00 0.00 0.00 0.00 271,749.66
15-IO 0.00 0.00 1,673.92 0.00 363,818.12
15-PO 0.00 0.00 0.00 0.00 1,710,121.62
B-1 0.00 0.00 26,812.50 0.00 5,841,696.46
B-2 0.00 0.00 9,574.58 0.00 2,086,034.86
B-3 0.00 0.00 6,380.00 0.00 1,390,024.18
B-4 0.00 0.00 5,110.42 0.00 1,113,417.36
B-5 0.00 0.00 3,827.08 0.00 833,814.79
B-6 0.00 0.00 5,110.08 0.00 1,113,343.46
Totals 0.00 0.00 1,340,704.77 0.00
<FN>
(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.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1-CB-1 183,469,000.00 5.25000% 1000.00000000 4.37500003 0.00000000 0.00000000
1-CB-R 50.00 5.50000% 1000.00000000 4.60000000 0.00000000 0.00000000
1-CB-LR 50.00 5.50000% 1000.00000000 4.60000000 0.00000000 0.00000000
1-CB-2 23,189,000.00 5.50000% 1000.00000000 4.58333348 0.00000000 0.00000000
1-CB-3 0.00 5.50000% 1000.00000000 4.58333353 0.00000000 0.00000000
1-CB-4 10,000,000.00 5.50000% 1000.00000000 4.58333300 0.00000000 0.00000000
1-CB-5 4,639,000.00 5.50000% 1000.00000000 4.58333261 0.00000000 0.00000000
CB-IO 0.00 5.50000% 1000.00000000 4.58333356 0.00000000 0.00000000
2-A-1 42,857,000.00 5.50000% 1000.00000000 4.58333341 0.00000000 0.00000000
30-PO 272,074.89 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
15-IO 0.00 5.50000% 1000.00000000 4.58332491 0.00000000 0.00000000
15-PO 1,719,983.14 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 5,850,000.00 5.50000% 1000.00000000 4.58333333 0.00000000 0.00000000
B-2 2,089,000.00 5.50000% 1000.00000000 4.58333174 0.00000000 0.00000000
B-3 1,392,000.00 5.50000% 1000.00000000 4.58333333 0.00000000 0.00000000
B-4 1,115,000.00 5.50000% 1000.00000000 4.58333632 0.00000000 0.00000000
B-5 835,000.00 5.50000% 1000.00000000 4.58332934 0.00000000 0.00000000
B-6 1,114,926.00 5.50000% 1000.00000000 4.58333558 0.00000000 0.00000000
<FN>
(5) All classes are per $1,000 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1-CB-1 0.00000000 0.00000000 4.37500003 0.00000000 992.47481297
1-CB-R 0.00000000 0.00000000 11.20000000 0.00000000 0.00000000
1-CB-LR 0.00000000 0.00000000 4.60000000 0.00000000 0.00000000
1-CB-2 0.00000000 0.00000000 4.58333348 0.00000000 1000.00000000
1-CB-3 0.00000000 0.00000000 4.58333353 0.00000000 992.47481264
1-CB-4 0.00000000 0.00000000 4.58333300 0.00000000 1000.00000000
1-CB-5 0.00000000 0.00000000 4.58333261 0.00000000 1000.00000000
CB-IO 0.00000000 0.00000000 4.58333356 0.00000000 991.73864906
2-A-1 0.00000000 0.00000000 4.58333341 0.00000000 991.01817183
30-PO 0.00000000 0.00000000 0.00000000 0.00000000 998.80463059
15-IO 0.00000000 0.00000000 4.58332491 0.00000000 996.16269204
15-PO 0.00000000 0.00000000 0.00000000 0.00000000 994.26650194
B-1 0.00000000 0.00000000 4.58333333 0.00000000 998.58059145
B-2 0.00000000 0.00000000 4.58333174 0.00000000 998.58059359
B-3 0.00000000 0.00000000 4.58333333 0.00000000 998.58058908
B-4 0.00000000 0.00000000 4.58333632 0.00000000 998.58059193
B-5 0.00000000 0.00000000 4.58332934 0.00000000 998.58058683
B-6 0.00000000 0.00000000 4.58333558 0.00000000 998.58058741
<FN>
(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.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 3,194,626.00
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
Total Deposits 3,194,626.00
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 60,466.84
Payment of Interest and Principal 3,134,159.16
Total Withdrawals (Pool Distribution Amount) 3,194,626.00
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
<s> <c>
Gross Servicing Fee 58,029.60
Trustee Fee: Wells Fargo Bank, N.A. 2,437.24
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 60,466.84
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 6.036452%
Weighted Average Pass-Through Rate 5.775948%
Weighted Average Maturity(Stepdown Calculation ) 328
Beginning Scheduled Collateral Loan Count 2,027
Number Of Loans Paid In Full 8
Ending Scheduled Collateral Loan Count 2,019
Beginning Scheduled Collateral Balance 278,542,084.03
Ending Scheduled Collateral Balance 276,748,630.06
Ending Actual Collateral Balance at 31-Jan-2005 277,043,872.86
Monthly P &I Constant 1,796,764.12
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 3,049,562.55
Class AP Deferred Amount 0.00
Scheduled Principal 395,592.51
Unscheduled Principal 1,397,861.87
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15 & 30 Year Fixed 15 & 30 Year Mixed Fixed
Weighted Average Coupon Rate 6.124102 5.600787 6.036452
Weighted Average Net Rate 5.874101 5.350786 5.786451
Weighted Average Maturity 358 179 328
Beginning Loan Count 1,618 409 2,027
Loans Paid In Full 6 2 8
Ending Loan Count 1,612 407 2,019
Beginning Scheduled Balance 231,888,973.81 46,653,110.63 278,542,084.44
Ending scheduled Balance 230,497,749.17 46,250,880.89 276,748,630.06
Record Date 01/31/2005 01/31/2005 01/31/2005
Principal And Interest Constant 1,411,777.20 384,986.92 1,796,764.12
Scheduled Principal 228,350.70 167,241.81 395,592.51
Unscheduled Principal 1,162,873.94 234,987.93 1,397,861.87
Scheduled Interest 1,183,426.50 217,745.11 1,401,171.61
Servicing Fees 48,310.20 9,719.40 58,029.60
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 2,029.03 408.21 2,437.24
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 Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 1,133,087.27 207,617.50 1,340,704.77
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 5.863599 5.340281 5.775948
Miscellaneous Reporting
Group 1
CPR 5.860124%
Subordinate % 4.455547%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.544453%
Group 2
CPR 5.900205%
Subordinate % 4.620483%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.379517%