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 2005-1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-12
Pooling and Servicing Agreement) (Commission 54-2165624
(State or other File Number) 54-2165625
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
2005-1 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
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 2005-1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 7/25/2005
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 July 25, 2005 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Loan Pass-Through Certificates
Record Date: 6/30/2005
Distribution Date: 7/25/2005
Banc of America Mortgage Securities, Inc.
Mortgage Loan 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
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>
1-A-1 05949AM80 SEN 5.50000% 5,558,802.36 25,477.84
1-A-2 05949AM98 SEN 5.50000% 2,384,000.00 10,926.67
1-A-3 05949AN22 SEN 5.50000% 4,592,000.00 21,046.67
1-A-4 05949AN30 SEN 5.50000% 890,000.00 4,079.17
1-A-5 05949AN48 SEN 5.50000% 2,000,000.00 9,166.67
1-A-6 05949AN55 SEN 5.50000% 2,000,000.00 9,166.67
1-A-7 05949AN63 SEN 4.41125% 4,800,560.05 17,647.06
1-A-8 05949AN71 SEN 7.31458% 2,880,336.03 17,557.05
1-A-9 05949AN89 SEN 3.91438% 12,906,319.37 42,100.20
1-A-10 05949AN97 SEN 10.69387% 3,241,247.02 28,884.56
1-A-11 05949AP20 SEN 8.00000% 1,451,960.47 9,679.74
1-A-12 05949AP38 SEN 5.50000% 453,861.35 2,080.20
1-A-13 05949AP46 SEN 4.75000% 64,236,911.58 254,271.11
1-A-14 05949AP53 SEN 5.25000% 10,332,000.00 45,202.50
1-A-15 05949AP61 SEN 5.50000% 13,948,000.00 63,928.33
1-A-16 05949AP79 SEN 5.50000% 4,229,000.00 19,382.92
1-A-17 05949AP87 SEN 5.50000% 504,000.00 2,310.00
1-A-18 05949AP95 SEN 5.25000% 4,467,000.00 19,543.13
1-A-19 05949AQ29 SEN 5.25000% 0.00 42,300.57
1-A-20 05949AQ37 SEN 5.50000% 0.00 18,388.92
1-A-21 05949AQ45 SEN 5.25000% 10,000,000.00 43,750.00
1-A-22 05949AQ52 SEN 5.25000% 64,865,809.83 283,787.92
1-A-23 05949AQ60 SEN 5.25000% 4,467,000.00 19,543.13
1-A-24 05949AQ78 SEN 5.25000% 4,467,000.00 19,543.13
1-A-R 05949AQ86 SEN 5.50000% 0.00 0.00
1-A-LR 05949AQ94 SEN 5.50000% 0.00 0.07
2-A-1 05949AR28 SEN 5.00000% 71,505,488.96 297,939.54
30-PO 05949AR44 SEN 0.00000% 1,792,766.61 0.00
30-IO 05949AR36 SEN 5.50000% 0.00 17,203.23
15-PO 05949AR69 SEN 0.00000% 568,854.39 0.00
15-IO 05949AR51 SEN 5.00000% 0.00 5,800.27
30-B-1 05949AR77 SUB 5.50000% 3,435,429.07 15,745.72
30-B-2 05949AR85 SUB 5.50000% 1,226,370.60 5,620.87
30-B-3 05949AR93 SUB 5.50000% 736,021.28 3,373.43
30-B-4 05949AS50 SUB 5.50000% 491,343.94 2,251.99
30-B-5 05949AS68 SUB 5.50000% 368,010.64 1,686.72
30-B-6 05949AS76 SUB 5.50000% 368,086.82 1,687.06
15-B-1 05949AS27 SUB 5.00000% 497,440.55 2,072.67
15-B-2 05949AS35 SUB 5.00000% 344,381.92 1,434.92
15-B-3 05949AS43 SUB 5.00000% 192,304.44 801.27
15-B-4 05949AS84 SUB 5.00000% 76,529.32 318.87
15-B-5 05949AS92 SUB 5.00000% 76,529.32 318.87
15-B-6 05949AT26 SUB 5.00000% 115,023.79 479.27
Totals 306,470,389.71 1,386,498.93
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-A-1 102,611.95 0.00 5,456,190.41 128,089.79 0.00
1-A-2 0.00 0.00 2,384,000.00 10,926.67 0.00
1-A-3 0.00 0.00 4,592,000.00 21,046.67 0.00
1-A-4 0.00 0.00 890,000.00 4,079.17 0.00
1-A-5 0.00 0.00 2,000,000.00 9,166.67 0.00
1-A-6 0.00 0.00 2,000,000.00 9,166.67 0.00
1-A-7 88,615.28 0.00 4,711,944.77 106,262.34 0.00
1-A-8 53,169.17 0.00 2,827,166.86 70,726.22 0.00
1-A-9 32,581.76 0.00 12,873,737.62 74,681.96 0.00
1-A-10 8,182.47 0.00 3,233,064.56 37,067.03 0.00
1-A-11 3,665.45 0.00 1,448,295.02 13,345.19 0.00
1-A-12 288,824.37 0.00 165,036.99 290,904.57 0.00
1-A-13 367,607.66 0.00 63,869,303.92 621,878.77 0.00
1-A-14 0.00 0.00 10,332,000.00 45,202.50 0.00
1-A-15 0.00 0.00 13,948,000.00 63,928.33 0.00
1-A-16 0.00 0.00 4,229,000.00 19,382.92 0.00
1-A-17 0.00 0.00 504,000.00 2,310.00 0.00
1-A-18 0.00 0.00 4,467,000.00 19,543.13 0.00
1-A-19 0.00 0.00 0.00 42,300.57 0.00
1-A-20 0.00 0.00 0.00 18,388.92 0.00
1-A-21 0.00 0.00 10,000,000.00 43,750.00 0.00
1-A-22 611,652.58 0.00 64,254,157.25 895,440.50 0.00
1-A-23 0.00 0.00 4,467,000.00 19,543.13 0.00
1-A-24 0.00 0.00 4,467,000.00 19,543.13 0.00
1-A-R 0.00 0.00 0.00 0.00 0.00
1-A-LR 0.00 0.00 0.00 0.07 0.00
2-A-1 302,172.22 0.00 71,203,316.74 600,111.76 0.00
30-PO 2,125.25 0.00 1,790,641.35 2,125.25 0.00
30-IO 0.00 0.00 0.00 17,203.23 0.00
15-PO 2,266.96 0.00 566,587.42 2,266.96 0.00
15-IO 0.00 0.00 0.00 5,800.27 0.00
30-B-1 3,780.54 0.00 3,431,648.53 19,526.26 0.00
30-B-2 1,349.57 0.00 1,225,021.03 6,970.44 0.00
30-B-3 809.96 0.00 735,211.32 4,183.39 0.00
30-B-4 540.70 0.00 490,803.24 2,792.69 0.00
30-B-5 404.98 0.00 367,605.66 2,091.70 0.00
30-B-6 405.02 0.00 367,681.80 2,092.08 0.00
15-B-1 1,951.03 0.00 495,489.53 4,023.70 0.00
15-B-2 1,350.71 0.00 343,031.21 2,785.63 0.00
15-B-3 754.24 0.00 191,550.19 1,555.51 0.00
15-B-4 300.16 0.00 76,229.16 619.03 0.00
15-B-5 300.16 0.00 76,229.16 619.03 0.00
15-B-6 451.14 0.00 114,572.65 930.41 0.00
Totals 1,875,873.33 0.00 304,594,516.39 3,262,372.26 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>
1-A-1 6,774,000.00 5,558,802.36 16,295.34 86,316.61 0.00 0.00
1-A-2 2,384,000.00 2,384,000.00 0.00 0.00 0.00 0.00
1-A-3 4,592,000.00 4,592,000.00 0.00 0.00 0.00 0.00
1-A-4 890,000.00 890,000.00 0.00 0.00 0.00 0.00
1-A-5 2,000,000.00 2,000,000.00 0.00 0.00 0.00 0.00
1-A-6 2,000,000.00 2,000,000.00 0.00 0.00 0.00 0.00
1-A-7 5,850,000.00 4,800,560.05 14,072.59 74,542.68 0.00 0.00
1-A-8 3,510,000.00 2,880,336.03 8,443.56 44,725.61 0.00 0.00
1-A-9 13,029,133.00 12,906,319.37 5,174.16 27,407.59 0.00 0.00
1-A-10 3,272,090.00 3,241,247.02 1,299.42 6,883.05 0.00 0.00
1-A-11 1,465,777.00 1,451,960.47 582.09 3,083.35 0.00 0.00
1-A-12 4,233,000.00 453,861.35 46,197.25 244,707.32 (2,080.19) 0.00
1-A-13 65,604,000.00 64,236,911.58 58,378.12 309,229.54 0.00 0.00
1-A-14 10,332,000.00 10,332,000.00 0.00 0.00 0.00 0.00
1-A-15 13,948,000.00 13,948,000.00 0.00 0.00 0.00 0.00
1-A-16 4,229,000.00 4,229,000.00 0.00 0.00 0.00 0.00
1-A-17 504,000.00 504,000.00 0.00 0.00 0.00 0.00
1-A-18 4,467,000.00 4,467,000.00 0.00 0.00 0.00 0.00
1-A-19 0.00 0.00 0.00 0.00 0.00 0.00
1-A-20 0.00 0.00 0.00 0.00 0.00 0.00
1-A-21 10,000,000.00 10,000,000.00 0.00 0.00 0.00 0.00
1-A-22 70,177,000.00 64,865,809.83 97,133.80 514,518.78 0.00 0.00
1-A-23 4,467,000.00 4,467,000.00 0.00 0.00 0.00 0.00
1-A-24 4,467,000.00 4,467,000.00 0.00 0.00 0.00 0.00
1-A-R 50.00 0.00 0.00 0.00 0.00 0.00
1-A-LR 50.00 0.00 0.00 0.00 0.00 0.00
2-A-1 76,143,000.00 71,505,488.96 280,453.92 21,718.30 0.00 0.00
30-PO 1,829,524.24 1,792,766.61 2,084.78 40.48 0.00 0.00
30-IO 0.00 0.00 0.00 0.00 0.00 0.00
15-PO 580,652.65 568,854.39 2,230.74 36.23 0.00 0.00
15-IO 0.00 0.00 0.00 0.00 0.00 0.00
30-B-1 3,454,000.00 3,435,429.07 3,780.54 0.00 0.00 0.00
30-B-2 1,233,000.00 1,226,370.60 1,349.57 0.00 0.00 0.00
30-B-3 740,000.00 736,021.28 809.96 0.00 0.00 0.00
30-B-4 494,000.00 491,343.94 540.70 0.00 0.00 0.00
30-B-5 370,000.00 368,010.64 404.98 0.00 0.00 0.00
30-B-6 370,076.59 368,086.82 405.02 0.00 0.00 0.00
15-B-1 507,000.00 497,440.55 1,951.03 0.00 0.00 0.00
15-B-2 351,000.00 344,381.92 1,350.71 0.00 0.00 0.00
15-B-3 196,000.00 192,304.44 754.24 0.00 0.00 0.00
15-B-4 78,000.00 76,529.32 300.16 0.00 0.00 0.00
15-B-5 78,000.00 76,529.32 300.16 0.00 0.00 0.00
15-B-6 117,234.15 115,023.79 451.14 0.00 0.00 0.00
Totals 324,736,587.63 306,470,389.71 544,743.98 1,333,209.54 (2,080.19) 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-A-1 102,611.95 5,456,190.41 0.80546065 102,611.95
1-A-2 0.00 2,384,000.00 1.00000000 0.00
1-A-3 0.00 4,592,000.00 1.00000000 0.00
1-A-4 0.00 890,000.00 1.00000000 0.00
1-A-5 0.00 2,000,000.00 1.00000000 0.00
1-A-6 0.00 2,000,000.00 1.00000000 0.00
1-A-7 88,615.28 4,711,944.77 0.80546064 88,615.28
1-A-8 53,169.17 2,827,166.86 0.80546064 53,169.17
1-A-9 32,581.76 12,873,737.62 0.98807324 32,581.76
1-A-10 8,182.47 3,233,064.56 0.98807324 8,182.47
1-A-11 3,665.45 1,448,295.02 0.98807323 3,665.45
1-A-12 288,824.37 165,036.99 0.03898819 288,824.37
1-A-13 367,607.66 63,869,303.92 0.97355807 367,607.66
1-A-14 0.00 10,332,000.00 1.00000000 0.00
1-A-15 0.00 13,948,000.00 1.00000000 0.00
1-A-16 0.00 4,229,000.00 1.00000000 0.00
1-A-17 0.00 504,000.00 1.00000000 0.00
1-A-18 0.00 4,467,000.00 1.00000000 0.00
1-A-19 0.00 0.00 0.00000000 0.00
1-A-20 0.00 0.00 0.00000000 0.00
1-A-21 0.00 10,000,000.00 1.00000000 0.00
1-A-22 611,652.58 64,254,157.25 0.91560137 611,652.58
1-A-23 0.00 4,467,000.00 1.00000000 0.00
1-A-24 0.00 4,467,000.00 1.00000000 0.00
1-A-R 0.00 0.00 0.00000000 0.00
1-A-LR 0.00 0.00 0.00000000 0.00
2-A-1 302,172.22 71,203,316.74 0.93512623 302,172.22
30-PO 2,125.25 1,790,641.35 0.97874699 2,125.25
30-IO 0.00 0.00 0.00000000 0.00
15-PO 2,266.96 566,587.42 0.97577686 2,266.96
15-IO 0.00 0.00 0.00000000 0.00
30-B-1 3,780.54 3,431,648.53 0.99352882 3,780.54
30-B-2 1,349.57 1,225,021.03 0.99352882 1,349.57
30-B-3 809.96 735,211.32 0.99352881 809.96
30-B-4 540.70 490,803.24 0.99352883 540.70
30-B-5 404.98 367,605.66 0.99352881 404.98
30-B-6 405.02 367,681.80 0.99352893 405.02
15-B-1 1,951.03 495,489.53 0.97729690 1,951.03
15-B-2 1,350.71 343,031.21 0.97729689 1,350.71
15-B-3 754.24 191,550.19 0.97729689 754.24
15-B-4 300.16 76,229.16 0.97729692 300.16
15-B-5 300.16 76,229.16 0.97729692 300.16
15-B-6 451.14 114,572.65 0.97729757 451.14
Totals 1,875,873.33 304,594,516.39 0.93797412 1,875,873.33
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-A-1 6,774,000.00 820.60855624 2.40557130 12.74233983 0.00000000
1-A-2 2,384,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-3 4,592,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-4 890,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-5 2,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-6 2,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-7 5,850,000.00 820.60855556 2.40557094 12.74233846 0.00000000
1-A-8 3,510,000.00 820.60855556 2.40557265 12.74233903 0.00000000
1-A-9 13,029,133.00 990.57392153 0.39712236 2.10356207 0.00000000
1-A-10 3,272,090.00 990.57392064 0.39712233 2.10356378 0.00000000
1-A-11 1,465,777.00 990.57392086 0.39712044 2.10356009 0.00000000
1-A-12 4,233,000.00 107.21978502 10.91359556 57.80943066 (0.49142216)
1-A-13 65,604,000.00 979.16150814 0.88985611 4.71357753 0.00000000
1-A-14 10,332,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-15 13,948,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-16 4,229,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-17 504,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-18 4,467,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-19 0.00 0.00000000 0.00000000 0.00000000 0.00000000
1-A-20 0.00 0.00000000 0.00000000 0.00000000 0.00000000
1-A-21 10,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-22 70,177,000.00 924.31722402 1.38412585 7.33172948 0.00000000
1-A-23 4,467,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-24 4,467,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 50.00 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 76,143,000.00 939.09471599 3.68325283 0.28523042 0.00000000
30-PO 1,829,524.24 979.90864007 1.13952029 0.02212597 0.00000000
30-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
15-PO 580,652.65 979.68103650 3.84178045 0.06239531 0.00000000
15-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
30-B-1 3,454,000.00 994.62335553 1.09453966 0.00000000 0.00000000
30-B-2 1,233,000.00 994.62335766 1.09454177 0.00000000 0.00000000
30-B-3 740,000.00 994.62335135 1.09454054 0.00000000 0.00000000
30-B-4 494,000.00 994.62336032 1.09453441 0.00000000 0.00000000
30-B-5 370,000.00 994.62335135 1.09454054 0.00000000 0.00000000
30-B-6 370,076.59 994.62335621 1.09442210 0.00000000 0.00000000
15-B-1 507,000.00 981.14506903 3.84818540 0.00000000 0.00000000
15-B-2 351,000.00 981.14507123 3.84817664 0.00000000 0.00000000
15-B-3 196,000.00 981.14510204 3.84816327 0.00000000 0.00000000
15-B-4 78,000.00 981.14512821 3.84820513 0.00000000 0.00000000
15-B-5 78,000.00 981.14512821 3.84820513 0.00000000 0.00000000
15-B-6 117,234.15 981.14576683 3.84819611 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-A-1 0.00000000 15.14791113 805.46064511 0.80546065 15.14791113
1-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-7 0.00000000 15.14791111 805.46064444 0.80546064 15.14791111
1-A-8 0.00000000 15.14791168 805.46064387 0.80546064 15.14791168
1-A-9 0.00000000 2.50068520 988.07323711 0.98807324 2.50068520
1-A-10 0.00000000 2.50068611 988.07323759 0.98807324 2.50068611
1-A-11 0.00000000 2.50068735 988.07323351 0.98807323 2.50068735
1-A-12 0.00000000 68.23160170 38.98818568 0.03898819 68.23160170
1-A-13 0.00000000 5.60343363 973.55807451 0.97355807 5.60343363
1-A-14 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-15 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-16 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-17 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-18 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-19 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-A-20 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-A-21 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-22 0.00000000 8.71585534 915.60136868 0.91560137 8.71585534
1-A-23 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-24 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 0.00000000 3.96848325 935.12623275 0.93512623 3.96848325
30-PO 0.00000000 1.16164080 978.74699381 0.97874699 1.16164080
30-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
15-PO 0.00000000 3.90415854 975.77686074 0.97577686 3.90415854
15-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
30-B-1 0.00000000 1.09453966 993.52881587 0.99352882 1.09453966
30-B-2 0.00000000 1.09454177 993.52881590 0.99352882 1.09454177
30-B-3 0.00000000 1.09454054 993.52881081 0.99352881 1.09454054
30-B-4 0.00000000 1.09453441 993.52882591 0.99352883 1.09453441
30-B-5 0.00000000 1.09454054 993.52881081 0.99352881 1.09454054
30-B-6 0.00000000 1.09442210 993.52893411 0.99352893 1.09442210
15-B-1 0.00000000 3.84818540 977.29690335 0.97729690 3.84818540
15-B-2 0.00000000 3.84817664 977.29689459 0.97729689 3.84817664
15-B-3 0.00000000 3.84816327 977.29688776 0.97729689 3.84816327
15-B-4 0.00000000 3.84820513 977.29692308 0.97729692 3.84820513
15-B-5 0.00000000 3.84820513 977.29692308 0.97729692 3.84820513
15-B-6 0.00000000 3.84819611 977.29757072 0.97729757 3.84819611
<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-A-1 6,774,000.00 5.50000% 5,558,802.36 25,477.84 0.00 0.00
1-A-2 2,384,000.00 5.50000% 2,384,000.00 10,926.67 0.00 0.00
1-A-3 4,592,000.00 5.50000% 4,592,000.00 21,046.67 0.00 0.00
1-A-4 890,000.00 5.50000% 890,000.00 4,079.17 0.00 0.00
1-A-5 2,000,000.00 5.50000% 2,000,000.00 9,166.67 0.00 0.00
1-A-6 2,000,000.00 5.50000% 2,000,000.00 9,166.67 0.00 0.00
1-A-7 5,850,000.00 4.41125% 4,800,560.05 17,647.06 0.00 0.00
1-A-8 3,510,000.00 7.31458% 2,880,336.03 17,557.05 0.00 0.00
1-A-9 13,029,133.00 3.91438% 12,906,319.37 42,100.20 0.00 0.00
1-A-10 3,272,090.00 10.69387% 3,241,247.02 28,884.56 0.00 0.00
1-A-11 1,465,777.00 8.00000% 1,451,960.47 9,679.74 0.00 0.00
1-A-12 4,233,000.00 5.50000% 453,861.35 2,080.20 0.00 0.00
1-A-13 65,604,000.00 4.75000% 64,236,911.58 254,271.11 0.00 0.00
1-A-14 10,332,000.00 5.25000% 10,332,000.00 45,202.50 0.00 0.00
1-A-15 13,948,000.00 5.50000% 13,948,000.00 63,928.33 0.00 0.00
1-A-16 4,229,000.00 5.50000% 4,229,000.00 19,382.92 0.00 0.00
1-A-17 504,000.00 5.50000% 504,000.00 2,310.00 0.00 0.00
1-A-18 4,467,000.00 5.25000% 4,467,000.00 19,543.13 0.00 0.00
1-A-19 0.00 5.25000% 9,668,701.65 42,300.57 0.00 0.00
1-A-20 0.00 5.50000% 4,012,127.72 18,388.92 0.00 0.00
1-A-21 10,000,000.00 5.25000% 10,000,000.00 43,750.00 0.00 0.00
1-A-22 70,177,000.00 5.25000% 64,865,809.83 283,787.92 0.00 0.00
1-A-23 4,467,000.00 5.25000% 4,467,000.00 19,543.13 0.00 0.00
1-A-24 4,467,000.00 5.25000% 4,467,000.00 19,543.13 0.00 0.00
1-A-R 50.00 5.50000% 0.00 0.00 0.00 0.00
1-A-LR 50.00 5.50000% 0.00 0.00 0.00 0.00
2-A-1 76,143,000.00 5.00000% 71,505,488.96 297,939.54 0.00 0.00
30-PO 1,829,524.24 0.00000% 1,792,766.61 0.00 0.00 0.00
30-IO 0.00 5.50000% 3,753,432.71 17,203.23 0.00 0.00
15-PO 580,652.65 0.00000% 568,854.39 0.00 0.00 0.00
15-IO 0.00 5.00000% 1,392,065.76 5,800.27 0.00 0.00
30-B-1 3,454,000.00 5.50000% 3,435,429.07 15,745.72 0.00 0.00
30-B-2 1,233,000.00 5.50000% 1,226,370.60 5,620.87 0.00 0.00
30-B-3 740,000.00 5.50000% 736,021.28 3,373.43 0.00 0.00
30-B-4 494,000.00 5.50000% 491,343.94 2,251.99 0.00 0.00
30-B-5 370,000.00 5.50000% 368,010.64 1,686.72 0.00 0.00
30-B-6 370,076.59 5.50000% 368,086.82 1,687.06 0.00 0.00
15-B-1 507,000.00 5.00000% 497,440.55 2,072.67 0.00 0.00
15-B-2 351,000.00 5.00000% 344,381.92 1,434.92 0.00 0.00
15-B-3 196,000.00 5.00000% 192,304.44 801.27 0.00 0.00
15-B-4 78,000.00 5.00000% 76,529.32 318.87 0.00 0.00
15-B-5 78,000.00 5.00000% 76,529.32 318.87 0.00 0.00
15-B-6 117,234.15 5.00000% 115,023.79 479.27 0.00 0.00
Totals 324,736,587.63 1,386,498.86 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-A-1 0.00 0.00 25,477.84 0.00 5,456,190.41
1-A-2 0.00 0.00 10,926.67 0.00 2,384,000.00
1-A-3 0.00 0.00 21,046.67 0.00 4,592,000.00
1-A-4 0.00 0.00 4,079.17 0.00 890,000.00
1-A-5 0.00 0.00 9,166.67 0.00 2,000,000.00
1-A-6 0.00 0.00 9,166.67 0.00 2,000,000.00
1-A-7 0.00 0.00 17,647.06 0.00 4,711,944.77
1-A-8 0.00 0.00 17,557.05 0.00 2,827,166.86
1-A-9 0.00 0.00 42,100.20 0.00 12,873,737.62
1-A-10 0.00 0.00 28,884.56 0.00 3,233,064.56
1-A-11 0.00 0.00 9,679.74 0.00 1,448,295.02
1-A-12 0.00 0.00 2,080.20 0.00 165,036.99
1-A-13 0.00 0.00 254,271.11 0.00 63,869,303.92
1-A-14 0.00 0.00 45,202.50 0.00 10,332,000.00
1-A-15 0.00 0.00 63,928.33 0.00 13,948,000.00
1-A-16 0.00 0.00 19,382.92 0.00 4,229,000.00
1-A-17 0.00 0.00 2,310.00 0.00 504,000.00
1-A-18 0.00 0.00 19,543.13 0.00 4,467,000.00
1-A-19 0.00 0.00 42,300.57 0.00 9,616,186.27
1-A-20 0.00 0.00 18,388.92 0.00 3,984,325.33
1-A-21 0.00 0.00 43,750.00 0.00 10,000,000.00
1-A-22 0.00 0.00 283,787.92 0.00 64,254,157.25
1-A-23 0.00 0.00 19,543.13 0.00 4,467,000.00
1-A-24 0.00 0.00 19,543.13 0.00 4,467,000.00
1-A-R 0.00 0.00 0.00 0.00 0.00
1-A-LR 0.00 0.00 0.07 0.00 0.00
2-A-1 0.00 0.00 297,939.54 0.00 71,203,316.74
30-PO 0.00 0.00 0.00 0.00 1,790,641.35
30-IO 0.00 0.00 17,203.23 0.00 3,662,937.64
15-PO 0.00 0.00 0.00 0.00 566,587.42
15-IO 0.00 0.00 5,800.27 0.00 1,386,115.22
30-B-1 0.00 0.00 15,745.72 0.00 3,431,648.53
30-B-2 0.00 0.00 5,620.87 0.00 1,225,021.03
30-B-3 0.00 0.00 3,373.43 0.00 735,211.32
30-B-4 0.00 0.00 2,251.99 0.00 490,803.24
30-B-5 0.00 0.00 1,686.72 0.00 367,605.66
30-B-6 0.00 0.00 1,687.06 0.00 367,681.80
15-B-1 0.00 0.00 2,072.67 0.00 495,489.53
15-B-2 0.00 0.00 1,434.92 0.00 343,031.21
15-B-3 0.00 0.00 801.27 0.00 191,550.19
15-B-4 0.00 0.00 318.87 0.00 76,229.16
15-B-5 0.00 0.00 318.87 0.00 76,229.16
15-B-6 0.00 0.00 479.27 0.00 114,572.65
Totals 0.00 0.00 1,386,498.93 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-A-1 6,774,000.00 5.50000% 820.60855624 3.76112194 0.00000000 0.00000000
1-A-2 2,384,000.00 5.50000% 1000.00000000 4.58333473 0.00000000 0.00000000
1-A-3 4,592,000.00 5.50000% 1000.00000000 4.58333406 0.00000000 0.00000000
1-A-4 890,000.00 5.50000% 1000.00000000 4.58333708 0.00000000 0.00000000
1-A-5 2,000,000.00 5.50000% 1000.00000000 4.58333500 0.00000000 0.00000000
1-A-6 2,000,000.00 5.50000% 1000.00000000 4.58333500 0.00000000 0.00000000
1-A-7 5,850,000.00 4.41125% 820.60855556 3.01659145 0.00000000 0.00000000
1-A-8 3,510,000.00 7.31458% 820.60855556 5.00200855 0.00000000 0.00000000
1-A-9 13,029,133.00 3.91438% 990.57392153 3.23123572 0.00000000 0.00000000
1-A-10 3,272,090.00 10.69387% 990.57392064 8.82755670 0.00000000 0.00000000
1-A-11 1,465,777.00 8.00000% 990.57392086 6.60382855 0.00000000 0.00000000
1-A-12 4,233,000.00 5.50000% 107.21978502 0.49142452 0.00000000 0.00000000
1-A-13 65,604,000.00 4.75000% 979.16150814 3.87584766 0.00000000 0.00000000
1-A-14 10,332,000.00 5.25000% 1000.00000000 4.37500000 0.00000000 0.00000000
1-A-15 13,948,000.00 5.50000% 1000.00000000 4.58333309 0.00000000 0.00000000
1-A-16 4,229,000.00 5.50000% 1000.00000000 4.58333412 0.00000000 0.00000000
1-A-17 504,000.00 5.50000% 1000.00000000 4.58333333 0.00000000 0.00000000
1-A-18 4,467,000.00 5.25000% 1000.00000000 4.37500112 0.00000000 0.00000000
1-A-19 0.00 5.25000% 980.20089720 4.28837895 0.00000000 0.00000000
1-A-20 0.00 5.50000% 943.24327590 4.32319865 0.00000000 0.00000000
1-A-21 10,000,000.00 5.25000% 1000.00000000 4.37500000 0.00000000 0.00000000
1-A-22 70,177,000.00 5.25000% 924.31722402 4.04388788 0.00000000 0.00000000
1-A-23 4,467,000.00 5.25000% 1000.00000000 4.37500112 0.00000000 0.00000000
1-A-24 4,467,000.00 5.25000% 1000.00000000 4.37500112 0.00000000 0.00000000
1-A-R 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 76,143,000.00 5.00000% 939.09471599 3.91289469 0.00000000 0.00000000
30-PO 1,829,524.24 0.00000% 979.90864007 0.00000000 0.00000000 0.00000000
30-IO 0.00 5.50000% 881.90664318 4.04207135 0.00000000 0.00000000
15-PO 580,652.65 0.00000% 979.68103650 0.00000000 0.00000000 0.00000000
15-IO 0.00 5.00000% 891.39702844 3.71415172 0.00000000 0.00000000
30-B-1 3,454,000.00 5.50000% 994.62335553 4.55869137 0.00000000 0.00000000
30-B-2 1,233,000.00 5.50000% 994.62335766 4.55869424 0.00000000 0.00000000
30-B-3 740,000.00 5.50000% 994.62335135 4.55868919 0.00000000 0.00000000
30-B-4 494,000.00 5.50000% 994.62336032 4.55868421 0.00000000 0.00000000
30-B-5 370,000.00 5.50000% 994.62335135 4.55870270 0.00000000 0.00000000
30-B-6 370,076.59 5.50000% 994.62335621 4.55867798 0.00000000 0.00000000
15-B-1 507,000.00 5.00000% 981.14506903 4.08810651 0.00000000 0.00000000
15-B-2 351,000.00 5.00000% 981.14507123 4.08809117 0.00000000 0.00000000
15-B-3 196,000.00 5.00000% 981.14510204 4.08811224 0.00000000 0.00000000
15-B-4 78,000.00 5.00000% 981.14512821 4.08807692 0.00000000 0.00000000
15-B-5 78,000.00 5.00000% 981.14512821 4.08807692 0.00000000 0.00000000
15-B-6 117,234.15 5.00000% 981.14576683 4.08814326 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-A-1 0.00000000 0.00000000 3.76112194 0.00000000 805.46064511
1-A-2 0.00000000 0.00000000 4.58333473 0.00000000 1000.00000000
1-A-3 0.00000000 0.00000000 4.58333406 0.00000000 1000.00000000
1-A-4 0.00000000 0.00000000 4.58333708 0.00000000 1000.00000000
1-A-5 0.00000000 0.00000000 4.58333500 0.00000000 1000.00000000
1-A-6 0.00000000 0.00000000 4.58333500 0.00000000 1000.00000000
1-A-7 0.00000000 0.00000000 3.01659145 0.00000000 805.46064444
1-A-8 0.00000000 0.00000000 5.00200855 0.00000000 805.46064387
1-A-9 0.00000000 0.00000000 3.23123572 0.00000000 988.07323711
1-A-10 0.00000000 0.00000000 8.82755670 0.00000000 988.07323759
1-A-11 0.00000000 0.00000000 6.60382855 0.00000000 988.07323351
1-A-12 0.00000000 0.00000000 0.49142452 0.00000000 38.98818568
1-A-13 0.00000000 0.00000000 3.87584766 0.00000000 973.55807451
1-A-14 0.00000000 0.00000000 4.37500000 0.00000000 1000.00000000
1-A-15 0.00000000 0.00000000 4.58333309 0.00000000 1000.00000000
1-A-16 0.00000000 0.00000000 4.58333412 0.00000000 1000.00000000
1-A-17 0.00000000 0.00000000 4.58333333 0.00000000 1000.00000000
1-A-18 0.00000000 0.00000000 4.37500112 0.00000000 1000.00000000
1-A-19 0.00000000 0.00000000 4.28837895 0.00000000 974.87695357
1-A-20 0.00000000 0.00000000 4.32319865 0.00000000 936.70698911
1-A-21 0.00000000 0.00000000 4.37500000 0.00000000 1000.00000000
1-A-22 0.00000000 0.00000000 4.04388788 0.00000000 915.60136868
1-A-23 0.00000000 0.00000000 4.37500112 0.00000000 1000.00000000
1-A-24 0.00000000 0.00000000 4.37500112 0.00000000 1000.00000000
1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 0.00000000 0.00000000 1.40000000 0.00000000 0.00000000
2-A-1 0.00000000 0.00000000 3.91289469 0.00000000 935.12623275
30-PO 0.00000000 0.00000000 0.00000000 0.00000000 978.74699381
30-IO 0.00000000 0.00000000 4.04207135 0.00000000 860.64391927
15-PO 0.00000000 0.00000000 0.00000000 0.00000000 975.77686074
15-IO 0.00000000 0.00000000 3.71415172 0.00000000 887.58665265
30-B-1 0.00000000 0.00000000 4.55869137 0.00000000 993.52881587
30-B-2 0.00000000 0.00000000 4.55869424 0.00000000 993.52881590
30-B-3 0.00000000 0.00000000 4.55868919 0.00000000 993.52881081
30-B-4 0.00000000 0.00000000 4.55868421 0.00000000 993.52882591
30-B-5 0.00000000 0.00000000 4.55870270 0.00000000 993.52881081
30-B-6 0.00000000 0.00000000 4.55867798 0.00000000 993.52893411
15-B-1 0.00000000 0.00000000 4.08810651 0.00000000 977.29690335
15-B-2 0.00000000 0.00000000 4.08809117 0.00000000 977.29689459
15-B-3 0.00000000 0.00000000 4.08811224 0.00000000 977.29688776
15-B-4 0.00000000 0.00000000 4.08807692 0.00000000 977.29692308
15-B-5 0.00000000 0.00000000 4.08807692 0.00000000 977.29692308
15-B-6 0.00000000 0.00000000 4.08814326 0.00000000 977.29757072
<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 Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
<s> <c> <c> <c> <c> <c> <c>
X-PO-1 0.00000% 0.00 0.00 1,792,766.61 1,790,641.35 97.87469938%
X-PO-2 0.00000% 0.00 0.00 568,854.39 566,587.42 97.57768607%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 3,328,135.70
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 3,328,135.70
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 65,763.44
Payment of Interest and Principal 3,262,372.26
Total Withdrawals (Pool Distribution Amount) 3,328,135.70
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 63,848.00
Trustee Fee 1,915.44
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 65,763.44
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 1 0 0 0 1
358,102.55 0.00 0.00 0.00 358,102.55
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 1 0 0 0 1
358,102.55 0.00 0.00 0.00 358,102.55
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 0.165563% 0.000000% 0.000000% 0.000000% 0.165563%
0.117399% 0.000000% 0.000000% 0.000000% 0.117399%
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 0.165563% 0.000000% 0.000000% 0.000000% 0.165563%
0.117399% 0.000000% 0.000000% 0.000000% 0.117399%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1 - 30 Year Fixed 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 1 0 0 0 1
358,102.55 0.00 0.00 0.00 358,102.55
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 1 0 0 0 1
358,102.55 0.00 0.00 0.00 358,102.55
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.211416% 0.000000% 0.000000% 0.000000% 0.211416%
0.154534% 0.000000% 0.000000% 0.000000% 0.154534%
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 0.211416% 0.000000% 0.000000% 0.000000% 0.211416%
0.154534% 0.000000% 0.000000% 0.000000% 0.154534%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2 - 15 Year Fixed 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 2,026.35
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 - 30 Year Fixed 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 - 15 Year Fixed 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 - 30 Year Fixed 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 - 15 Year Fixed 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 Fixed
Weighted Average Gross Coupon 5.686405%
Weighted Average Pass-Through Rate 5.428905%
Weighted Average Maturity(Stepdown Calculation) 261
Beginning Scheduled Collateral Loan Count 606
Number Of Loans Paid In Full 2
Ending Scheduled Collateral Loan Count 604
Beginning Scheduled Collateral Balance 306,470,389.63
Ending Scheduled Collateral Balance 304,594,516.27
Ending Actual Collateral Balance at 30-Jun-2005 305,029,514.67
Monthly P&I Constant 1,996,675.85
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Non-PO Optimal Amount 3,205,397.86
Class AP Deferred Amount 0.00
Scheduled Principal 544,413.67
Unscheduled Principal 1,331,459.69
Miscellaneous Reporting
Senior % 97.393212%
Subordinate % 2.606788%
Group Level Collateral Statement
Group 1 - 30 Year Fixed 2 - 15 Year Fixed Total
Collateral Description Fixed 30 Year Fixed 15 Year Mixed Fixed
Weighted Average Coupon Rate 5.803763 5.313595 5.686405
Weighted Average Net Rate 5.553763 5.063595 5.436405
Weighted Average Maturity 351 172 261
Beginning Loan Count 475 131 606
Loans Paid In Full 2 0 2
Ending Loan Count 473 131 604
Beginning Scheduled Balance 233,093,837.03 73,376,552.60 306,470,389.63
Ending Scheduled Balance 231,527,510.29 73,067,005.98 304,594,516.27
Record Date 06/30/2005 06/30/2005 06/30/2005
Principal And Interest Constant 1,383,972.68 612,703.17 1,996,675.85
Scheduled Principal 256,621.58 287,792.09 544,413.67
Unscheduled Principal 1,309,705.16 21,754.53 1,331,459.69
Scheduled Interest 1,127,351.10 324,911.08 1,452,262.18
Servicing Fees 48,561.22 15,286.78 63,848.00
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,456.84 458.60 1,915.44
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 1,077,333.04 309,165.70 1,386,498.74
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 5.546263 5.056095 5.428905
Miscellaneous Reporting
Group 1 - 30 Year Fixed
CPR 6.545018%
Subordinate % 2.864346%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 97.135654%
Group 2 - 15 Year Fixed
CPR 0.356590%
Subordinate % 1.788560%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 98.211440%
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 - 30 Year Fixed 2 1,300,000.00 1,292,321.43 0 0.00 0.00
2 - 15 Year Fixed 0 0.00 0.00 0 0.00 0.00
Total 2 1,300,000.00 1,292,321.43 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 - 30 Year Fixed 0 0.00 0.00 0 0.00 0.00 18,686.45
2 - 15 Year Fixed 0 0.00 0.00 0 0.00 0.00 21,754.53
Total 0 0.00 0.00 0 0.00 0.00 40,440.98
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>
1 - 30 Year Fixed 6086292981 IL 62.50 01-Jan-2005 750,000.00 744,818.51
1 - 30 Year Fixed 6393502320 CA 75.86 01-Jan-2005 550,000.00 546,200.20
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>
1 - 30 Year Fixed 6086292981 Loan Paid in Full (1) 6.125% 360 6
1 - 30 Year Fixed 6393502320 Loan Paid in Full 0 6.125% 360 6
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.435% Current Month 5.099% Current Month 443.827%
3 Month Average 0.605% 3 Month Average 6.987% 3 Month Average 806.174%
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 7.986% N/A Feb-2005 5,522.420% N/A
Mar-2005 10.625% N/A Mar-2005 3,104.848% N/A
Apr-2005 20.449% N/A Apr-2005 3,726.661% N/A
May-2005 10.811% N/A May-2005 1,442.576% N/A
Jun-2005 5.051% N/A Jun-2005 532.119% N/A
Jul-2005 5.099% N/A Jul-2005 443.827% 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 - 30 Year Fixed
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.562% Current Month 6.545% Current Month 569.886%
3 Month Average 0.530% 3 Month Average 6.176% 3 Month Average 679.675%
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 8.201% N/A Feb-2005 5,703.582% N/A
Mar-2005 13.672% N/A Mar-2005 4,006.052% N/A
Apr-2005 22.819% N/A Apr-2005 4,158.601% N/A
May-2005 7.335% N/A May-2005 979.337% N/A
Jun-2005 4.647% N/A Jun-2005 489.803% N/A
Jul-2005 6.545% N/A Jul-2005 569.886% 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 - 15 Year Fixed
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.030% Current Month 0.357% Current Month 30.993%
3 Month Average 0.836% 3 Month Average 9.195% 3 Month Average 1,160.179%
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 7.301% N/A Feb-2005 4,959.656% N/A
Mar-2005 0.283% N/A Mar-2005 81.911% N/A
Apr-2005 12.554% N/A Apr-2005 2,287.610% N/A
May-2005 20.908% N/A May-2005 2,784.544% N/A
Jun-2005 6.321% N/A Jun-2005 665.000% N/A
Jul-2005 0.357% N/A Jul-2005 30.993% 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 - 30 Year Fixed 0 0.00 0.00 0.000%
2 - 15 Year Fixed 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% 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 - 30 Year Fixed
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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% 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 - 15 Year Fixed
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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% 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>