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): July 25, 2005
BANC OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2005-F Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-25
Pooling and Servicing Agreement) (Commission 54-2176711
(State or other File Number) 54-2176712
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 July 25, 2005 a distribution was made to holders of BANC OF AMERICA
MORTGAGE SECURITIES, INC., Mortgage Pass-Through Certificates, Series 2005-F
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-F Trust, relating to the
July 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 MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2005-F Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 7/26/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2005-F Trust,
relating to the July 25, 2005 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 6/30/2005
Distribution Date: 7/25/2005
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Series BOAM2005-F
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
1A1 05949CBW5 SEN 4.44848% 36,989,000.00 137,120.64
1A2 05949CBX3 SEN 4.44848% 2,987,000.00 11,073.00
1AR 05949CBY1 SEN 4.44848% 100.00 0.37
2A1 05949CBZ8 SEN 4.75219% 225,000,000.00 891,034.85
2A2 05949CCA2 SEN 5.03719% 170,000,000.00 713,601.33
2A3 05949CCB0 SEN 4.74219% 163,905,000.00 647,723.31
2A4 05949CCC8 SEN 4.74219% 6,359,000.00 25,129.63
2IO 05949CCK0 SEN 0.20230% 0.00 98,852.92
3A1 05949CCD6 SEN 5.26140% 29,602,000.00 129,789.93
4A1 05949CCE4 SEN 5.39082% 56,087,000.00 251,962.66
1IO 05949CCJ3 SEN 0.56500% 0.00 19,525.41
B1 05949CCF1 SUB 4.87592% 15,053,000.00 61,164.39
B2 05949CCG9 SUB 4.87592% 4,301,000.00 17,476.12
B3 05949CCH7 SUB 4.87592% 2,508,000.00 10,190.68
B4 05949CCL8 SUB 4.87592% 1,434,000.00 5,826.73
B5 05949CCM6 SUB 4.87592% 1,075,000.00 4,368.01
B6 05949CCN4 SUB 4.87592% 1,433,685.00 5,825.45
Totals 716,733,785.00 3,030,665.43
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1A1 180,947.24 0.00 36,808,052.76 318,067.88 0.00
1A2 14,612.17 0.00 2,972,387.83 25,685.17 0.00
1AR 100.00 0.00 0.00 100.37 0.00
2A1 1,678,497.70 0.00 223,321,502.30 2,569,532.55 0.00
2A2 1,268,198.26 0.00 168,731,801.74 1,981,799.59 0.00
2A3 1,222,729.63 0.00 162,682,270.37 1,870,452.94 0.00
2A4 47,438.08 0.00 6,311,561.92 72,567.71 0.00
2IO 0.00 0.00 0.00 98,852.92 0.00
3A1 117,251.21 0.00 29,484,748.79 247,041.14 0.00
4A1 29,821.55 0.00 56,057,178.45 281,784.21 0.00
1IO 0.00 0.00 0.00 19,525.41 0.00
B1 4,904.67 0.00 15,048,095.33 66,069.06 0.00
B2 1,401.38 0.00 4,299,598.62 18,877.50 0.00
B3 817.17 0.00 2,507,182.83 11,007.85 0.00
B4 467.24 0.00 1,433,532.76 6,293.97 0.00
B5 350.26 0.00 1,074,649.74 4,718.27 0.00
B6 467.13 0.00 1,433,217.87 6,292.58 0.00
Totals 4,568,003.69 0.00 712,165,781.31 7,598,669.12 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
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.
</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>
1A1 36,989,000.00 36,989,000.00 14,588.78 166,358.46 0.00 0.00
1A2 2,987,000.00 2,987,000.00 1,178.10 13,434.07 0.00 0.00
1AR 100.00 100.00 8.06 91.94 0.00 0.00
2A1 225,000,000.00 225,000,000.00 67,581.93 1,610,915.77 0.00 0.00
2A2 170,000,000.00 170,000,000.00 51,061.90 1,217,136.36 0.00 0.00
2A3 163,905,000.00 163,905,000.00 49,231.18 1,173,498.44 0.00 0.00
2A4 6,359,000.00 6,359,000.00 1,910.02 45,528.06 0.00 0.00
2IO 0.00 0.00 0.00 0.00 0.00 0.00
3A1 29,602,000.00 29,602,000.00 16,479.29 100,771.92 0.00 0.00
4A1 56,087,000.00 56,087,000.00 23,079.79 6,741.76 0.00 0.00
1IO 0.00 0.00 0.00 0.00 0.00 0.00
B1 15,053,000.00 15,053,000.00 4,904.67 0.00 0.00 0.00
B2 4,301,000.00 4,301,000.00 1,401.38 0.00 0.00 0.00
B3 2,508,000.00 2,508,000.00 817.17 0.00 0.00 0.00
B4 1,434,000.00 1,434,000.00 467.24 0.00 0.00 0.00
B5 1,075,000.00 1,075,000.00 350.26 0.00 0.00 0.00
B6 1,433,685.00 1,433,685.00 467.13 0.00 0.00 0.00
Totals 716,733,785.00 716,733,785.00 233,526.90 4,334,476.78 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>
1A1 180,947.24 36,808,052.76 0.99510808 180,947.24
1A2 14,612.17 2,972,387.83 0.99510808 14,612.17
1AR 100.00 0.00 0.00000000 100.00
2A1 1,678,497.70 223,321,502.30 0.99254001 1,678,497.70
2A2 1,268,198.26 168,731,801.74 0.99254001 1,268,198.26
2A3 1,222,729.63 162,682,270.37 0.99254001 1,222,729.63
2A4 47,438.08 6,311,561.92 0.99254001 47,438.08
2IO 0.00 0.00 0.00000000 0.00
3A1 117,251.21 29,484,748.79 0.99603908 117,251.21
4A1 29,821.55 56,057,178.45 0.99946830 29,821.55
1IO 0.00 0.00 0.00000000 0.00
B1 4,904.67 15,048,095.33 0.99967417 4,904.67
B2 1,401.38 4,299,598.62 0.99967417 1,401.38
B3 817.17 2,507,182.83 0.99967417 817.17
B4 467.24 1,433,532.76 0.99967417 467.24
B5 350.26 1,074,649.74 0.99967418 350.26
B6 467.13 1,433,217.87 0.99967418 467.13
Totals 4,568,003.69 712,165,781.31 0.99362664 4,568,003.69
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>
1A1 36,989,000.00 1000.00000000 0.39440861 4.49751169 0.00000000
1A2 2,987,000.00 1000.00000000 0.39440911 4.49751255 0.00000000
1AR 100.00 1000.00000000 80.60000000 919.40000000 0.00000000
2A1 225,000,000.00 1000.00000000 0.30036413 7.15962564 0.00000000
2A2 170,000,000.00 1000.00000000 0.30036412 7.15962565 0.00000000
2A3 163,905,000.00 1000.00000000 0.30036411 7.15962564 0.00000000
2A4 6,359,000.00 1000.00000000 0.30036484 7.15962573 0.00000000
2IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
3A1 29,602,000.00 1000.00000000 0.55669516 3.40422674 0.00000000
4A1 56,087,000.00 1000.00000000 0.41149981 0.12020183 0.00000000
1IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B1 15,053,000.00 1000.00000000 0.32582675 0.00000000 0.00000000
B2 4,301,000.00 1000.00000000 0.32582655 0.00000000 0.00000000
B3 2,508,000.00 1000.00000000 0.32582536 0.00000000 0.00000000
B4 1,434,000.00 1000.00000000 0.32582985 0.00000000 0.00000000
B5 1,075,000.00 1000.00000000 0.32582326 0.00000000 0.00000000
B6 1,433,685.00 1000.00000000 0.32582471 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>
1A1 0.00000000 4.89192030 995.10807970 0.99510808 4.89192030
1A2 0.00000000 4.89192166 995.10807834 0.99510808 4.89192166
1AR 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000
2A1 0.00000000 7.45998978 992.54001022 0.99254001 7.45998978
2A2 0.00000000 7.45998976 992.54001024 0.99254001 7.45998976
2A3 0.00000000 7.45998981 992.54001019 0.99254001 7.45998981
2A4 0.00000000 7.45999056 992.54000944 0.99254001 7.45999056
2IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
3A1 0.00000000 3.96092190 996.03907810 0.99603908 3.96092190
4A1 0.00000000 0.53170164 999.46829836 0.99946830 0.53170164
1IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B1 0.00000000 0.32582675 999.67417325 0.99967417 0.32582675
B2 0.00000000 0.32582655 999.67417345 0.99967417 0.32582655
B3 0.00000000 0.32582536 999.67417464 0.99967417 0.32582536
B4 0.00000000 0.32582985 999.67417015 0.99967417 0.32582985
B5 0.00000000 0.32582326 999.67417674 0.99967418 0.32582326
B6 0.00000000 0.32582471 999.67417529 0.99967418 0.32582471
<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>
1A1 36,989,000.00 4.44848% 36,989,000.00 137,120.64 0.00 0.00
1A2 2,987,000.00 4.44848% 2,987,000.00 11,073.00 0.00 0.00
1AR 100.00 4.44848% 100.00 0.37 0.00 0.00
2A1 225,000,000.00 4.75219% 225,000,000.00 891,034.85 0.00 0.00
2A2 170,000,000.00 5.03719% 170,000,000.00 713,601.33 0.00 0.00
2A3 163,905,000.00 4.74219% 163,905,000.00 647,723.31 0.00 0.00
2A4 6,359,000.00 4.74219% 6,359,000.00 25,129.63 0.00 0.00
2IO 0.00 0.20230% 586,374,357.37 98,852.92 0.00 0.00
3A1 29,602,000.00 5.26140% 29,602,000.00 129,789.93 0.00 0.00
4A1 56,087,000.00 5.39082% 56,087,000.00 251,962.66 0.00 0.00
1IO 0.00 0.56500% 41,469,904.11 19,525.41 0.00 0.00
B1 15,053,000.00 4.87592% 15,053,000.00 61,164.39 0.00 0.00
B2 4,301,000.00 4.87592% 4,301,000.00 17,476.12 0.00 0.00
B3 2,508,000.00 4.87592% 2,508,000.00 10,190.68 0.00 0.00
B4 1,434,000.00 4.87592% 1,434,000.00 5,826.73 0.00 0.00
B5 1,075,000.00 4.87592% 1,075,000.00 4,368.01 0.00 0.00
B6 1,433,685.00 4.87592% 1,433,685.00 5,825.45 0.00 0.00
Totals 716,733,785.00 3,030,665.43 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>
1A1 0.00 0.00 137,120.64 0.00 36,808,052.76
1A2 0.00 0.00 11,073.00 0.00 2,972,387.83
1AR 0.00 0.00 0.37 0.00 0.00
2A1 0.00 0.00 891,034.85 0.00 223,321,502.30
2A2 0.00 0.00 713,601.33 0.00 168,731,801.74
2A3 0.00 0.00 647,723.31 0.00 162,682,270.37
2A4 0.00 0.00 25,129.63 0.00 6,311,561.92
2IO 0.00 0.00 98,852.92 0.00 582,151,152.91
3A1 0.00 0.00 129,789.93 0.00 29,484,748.79
4A1 0.00 0.00 251,962.66 0.00 56,057,178.45
1IO 0.00 0.00 19,525.41 0.00 41,273,655.23
B1 0.00 0.00 61,164.39 0.00 15,048,095.33
B2 0.00 0.00 17,476.12 0.00 4,299,598.62
B3 0.00 0.00 10,190.68 0.00 2,507,182.83
B4 0.00 0.00 5,826.73 0.00 1,433,532.76
B5 0.00 0.00 4,368.01 0.00 1,074,649.74
B6 0.00 0.00 5,825.45 0.00 1,433,217.87
Totals 0.00 0.00 3,030,665.43 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>
1A1 36,989,000.00 4.44848% 1000.00000000 3.70706534 0.00000000 0.00000000
1A2 2,987,000.00 4.44848% 1000.00000000 3.70706394 0.00000000 0.00000000
1AR 100.00 4.44848% 1000.00000000 3.70000000 0.00000000 0.00000000
2A1 225,000,000.00 4.75219% 1000.00000000 3.96015489 0.00000000 0.00000000
2A2 170,000,000.00 5.03719% 1000.00000000 4.19765488 0.00000000 0.00000000
2A3 163,905,000.00 4.74219% 1000.00000000 3.95182154 0.00000000 0.00000000
2A4 6,359,000.00 4.74219% 1000.00000000 3.95182104 0.00000000 0.00000000
2IO 0.00 0.20230% 1000.00000000 0.16858329 0.00000000 0.00000000
3A1 29,602,000.00 5.26140% 1000.00000000 4.38449868 0.00000000 0.00000000
4A1 56,087,000.00 5.39082% 1000.00000000 4.49235402 0.00000000 0.00000000
1IO 0.00 0.56500% 1000.00000000 0.47083326 0.00000000 0.00000000
B1 15,053,000.00 4.87592% 1000.00000000 4.06326912 0.00000000 0.00000000
B2 4,301,000.00 4.87592% 1000.00000000 4.06326901 0.00000000 0.00000000
B3 2,508,000.00 4.87592% 1000.00000000 4.06326954 0.00000000 0.00000000
B4 1,434,000.00 4.87592% 1000.00000000 4.06327057 0.00000000 0.00000000
B5 1,075,000.00 4.87592% 1000.00000000 4.06326512 0.00000000 0.00000000
B6 1,433,685.00 4.87592% 1000.00000000 4.06327052 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>
1A1 0.00000000 0.00000000 3.70706534 0.00000000 995.10807970
1A2 0.00000000 0.00000000 3.70706394 0.00000000 995.10807834
1AR 0.00000000 0.00000000 3.70000000 0.00000000 0.00000000
2A1 0.00000000 0.00000000 3.96015489 0.00000000 992.54001022
2A2 0.00000000 0.00000000 4.19765488 0.00000000 992.54001024
2A3 0.00000000 0.00000000 3.95182154 0.00000000 992.54001019
2A4 0.00000000 0.00000000 3.95182104 0.00000000 992.54000944
2IO 0.00000000 0.00000000 0.16858329 0.00000000 992.79776749
3A1 0.00000000 0.00000000 4.38449868 0.00000000 996.03907810
4A1 0.00000000 0.00000000 4.49235402 0.00000000 999.46829836
1IO 0.00000000 0.00000000 0.47083326 0.00000000 995.26767944
B1 0.00000000 0.00000000 4.06326912 0.00000000 999.67417325
B2 0.00000000 0.00000000 4.06326901 0.00000000 999.67417345
B3 0.00000000 0.00000000 4.06326954 0.00000000 999.67417464
B4 0.00000000 0.00000000 4.06327057 0.00000000 999.67417015
B5 0.00000000 0.00000000 4.06326512 0.00000000 999.67417674
B6 0.00000000 0.00000000 4.06327052 0.00000000 999.67417529
<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 7,753,801.63
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 7,753,801.63
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 155,132.51
Payment of Interest and Principal 7,598,669.12
Total Withdrawals (Pool Distribution Amount) 7,753,801.63
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 153,639.32
Trustee Fee - Wells Fargo Bank, N.A. 1,493.19
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 155,132.51
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
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-Three Year ARM 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- Five Year ARM 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>
3 - Seven Year ARM 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>
4- Ten Year ARM 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
REO Detail - All Mortgage Loans in REO during Current Period
Summary 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current REO Total Dec-04 0.000%
Loans in REO 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1-Three Year ARM 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current REO Total Dec-04 0.000%
Loans in REO 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
2- Five Year ARM 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current REO Total Dec-04 0.000%
Loans in REO 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
3 - Seven Year ARM 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current REO Total Dec-04 0.000%
Loans in REO 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
4- Ten Year ARM 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current REO Total Dec-04 0.000%
Loans in REO 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
REO Loan Detail - All Mortgage Loans in REO during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number REO Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No REO loans this period.
REO Loan Detail - All Mortgage Loans in REO during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No REO loans this period.
Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period
Summary 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current Foreclosure Total Dec-04 0.000%
Loans in Foreclosure 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1-Three Year ARM 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current Foreclosure Total Dec-04 0.000%
Loans in Foreclosure 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
2- Five Year ARM 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current Foreclosure Total Dec-04 0.000%
Loans in Foreclosure 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
3 - Seven Year ARM 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current Foreclosure Total Dec-04 0.000%
Loans in Foreclosure 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
4- Ten Year ARM 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current Foreclosure Total Dec-04 0.000%
Loans in Foreclosure 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 5.333860%
Weighted Average Net Coupon 5.076627%
Weighted Average Pass-Through Rate 5.074127%
Weighted Average Maturity(Stepdown Calculation) 359
Beginning Scheduled Collateral Loan Count 1,326
Number Of Loans Paid In Full 4
Ending Scheduled Collateral Loan Count 1,322
Beginning Scheduled Collateral Balance 716,733,785.00
Ending Scheduled Collateral Balance 712,165,781.54
Ending Actual Collateral Balance at 30-Jun-2005 712,333,021.72
Monthly P&I Constant 3,419,324.81
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 233,526.91
Unscheduled Principal 4,334,476.78
Miscellaneous Reporting
Total Senior Prepayment Percentage 96.399684%
Aggregate Senior Percentage 3.600316%
Group Level Collateral Statement
Group 1-Three Year ARM 2- Five Year ARM 3 - Seven Year ARM
Collateral Description 3 Year LIBOR Arm 5 Year LIBOR Arm 7 Year LIBOR Arm
Weighted Average Coupon Rate 5.390978 5.289686 5.513898
Weighted Average Net Rate 5.015978 5.039686 5.263898
Weighted Average Maturity 359 359 359
Beginning Loan Count 75 1,094 55
Loans Paid In Full 0 4 0
Ending Loan Count 75 1,090 55
Beginning Scheduled Balance 41,469,904.11 586,374,357.37 30,707,902.45
Ending Scheduled Balance 41,273,655.23 582,151,152.91 30,590,035.59
Record Date 06/30/2005 06/30/2005 06/30/2005
Principal And Interest Constant 202,667.19 2,760,905.95 158,195.13
Scheduled Principal 16,364.41 176,125.83 17,094.94
Unscheduled Principal 179,884.47 4,047,078.63 100,771.92
Scheduled Interest 186,302.78 2,584,780.12 141,100.19
Servicing Fees 12,959.35 122,161.32 6,397.48
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 86.40 1,221.61 63.97
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 173,257.03 2,461,397.19 134,638.74
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 5.013478 5.037186 5.261398
Group Level Collateral Statement
Group 4- Ten Year ARM Total
Collateral Description Mixed ARM Mixed ARM
Weighted Average Coupon Rate 5.643325 5.333860
Weighted Average Net Rate 5.393325 5.076627
Weighted Average Maturity 359 359
Beginning Loan Count 102 1,326
Loans Paid In Full 0 4
Ending Loan Count 102 1,322
Beginning Scheduled Balance 58,181,621.30 716,733,785.23
Ending scheduled Balance 58,150,937.81 712,165,781.54
Record Date 06/30/2005 06/30/2005
Principal And Interest Constant 297,556.54 3,419,324.81
Scheduled Principal 23,941.73 233,526.91
Unscheduled Principal 6,741.76 4,334,476.78
Scheduled Interest 273,614.81 3,185,797.90
Servicing Fees 12,121.17 153,639.32
Master Servicing Fees 0.00 0.00
Trustee Fee 121.21 1,493.19
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 0.00 0.00
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 0.00
Spread 2 0.00 0.00
Spread 3 0.00 0.00
Net Interest 261,372.43 3,030,665.39
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 5.390825 5.074127
Miscellaneous Reporting
Group 1-Three Year ARM
CPR 5.084807%
Subordinate Percentage 3.602140%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.397860%
Group 2- Five Year ARM
CPR 7.977274%
Subordinate Percentage 3.600150%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.399850%
Group 3 - Seven Year ARM
CPR 3.869765%
Subordinate Percentage 3.601361%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.398639%
Miscellaneous Reporting
Group 4- Ten Year ARM
CPR 0.139018%
Subordinate Percentage 3.600142%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.399858%
Prepayment Detail - Prepayments during Current Period
Summary Loans Paid In Full Repurchased Loans
Original Current Original Current
Principal Principal Principal Principal
Group Count Balance Balance Count Balance Balance
<s> <c> <c> <c> <c> <c> <c>
1-Three Year ARM 0 0.00 0.00 0 0.00 0.00
2- Five Year ARM 4 2,332,800.00 2,332,800.00 0 0.00 0.00
3 - Seven Year ARM 0 0.00 0.00 0 0.00 0.00
4- Ten Year ARM 0 0.00 0.00 0 0.00 0.00
Total 4 2,332,800.00 2,332,800.00 0 0.00 0.00
Prepayment Detail - Prepayments during Current Period (continued)
Summary Substitution Loans Liquidated Loans Curtailments
Original Current Original Current
Principal Principal Principal Principal Curtailment
Group Count Balance Balance Count Balance Balance Amount
<s> <c> <c> <c> <c> <c> <c> <c>
1-Three Year ARM 0 0.00 0.00 0 0.00 0.00 179,884.47
2- Five Year ARM 0 0.00 0.00 0 0.00 0.00 1,714,278.63
3 - Seven Year ARM 0 0.00 0.00 0 0.00 0.00 100,771.92
4- Ten Year ARM 0 0.00 0.00 0 0.00 0.00 6,741.76
Total 0 0.00 0.00 0 0.00 0.00 2,001,676.78
Prepayment Loan Detail - Prepayments during Current Period
First Original
Loan LTV at Payment Principal Prepayment
Group Number State Origination Date Balance Amount
<s> <c> <c> <c> <c> <c> <c>
2- Five Year ARM 6126460721 CA 40.44 01-Jun-2005 360,000.00 360,000.00
2- Five Year ARM 6337803842 CA 48.69 01-Jun-2005 560,000.00 560,000.00
2- Five Year ARM 6357036117 CA 80.00 01-Jun-2005 612,800.00 612,800.00
2- Five Year ARM 6543318270 CA 30.88 01-Jul-2005 800,000.00 800,000.00
Prepayment Loan Detail - Prepayments during Current Period (continued)
Current
Loan PIF Months Loan Original
Group Number Type Delinquent Rate Term Seasoning
<s> <c> <c> <c> <c> <c> <c>
2- Five Year ARM 6126460721 Loan Paid in Full (1) 5.500% 360 1
2- Five Year ARM 6337803842 Loan Paid in Full (1) 5.625% 360 1
2- Five Year ARM 6357036117 Loan Paid in Full (1) 5.375% 360 1
2- Five Year ARM 6543318270 Loan Paid in Full (2) 5.375% 360 0
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.605% Current Month 7.023% Current Month 9,379.888%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 7.023% N/A Jul-2005 9,379.888% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1-Three Year ARM
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.434% Current Month 5.085% Current Month 7,264.734%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 5.085% N/A Jul-2005 7,264.734% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2- Five Year ARM
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.690% Current Month 7.977% Current Month 10,124.522%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 7.977% N/A Jul-2005 10,124.522% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
3 - Seven Year ARM
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.328% Current Month 3.870% Current Month 10,903.481%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 3.870% N/A Jul-2005 10,903.481% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
4- Ten Year ARM
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.012% Current Month 0.139% Current Month 232.542%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.139% N/A Jul-2005 232.542% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
1-Three Year ARM 0 0.00 0.00 0.000%
2- Five Year ARM 0 0.00 0.00 0.000%
3 - Seven Year ARM 0 0.00 0.00 0.000%
4- Ten Year ARM 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1-Three Year ARM
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2- Five Year ARM
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
3 - Seven Year ARM
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
4- Ten Year ARM
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
</FN>
<FN>
Calculation Methodology:
Monthly Default Rate (MDR): sum(Beg Principal Balance of Liquidated Loans)/ sum(Beg Principal Balance).
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR/(WAS*0.02) else if WAS is greater than 30 and
less than or equal to 60 then CDR/0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR/(0.6 -
((WAS-60)*0.0095)) else if WAS is greater than 120 then CDR/0.03
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
</FN>