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-D Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-19
Pooling and Servicing Agreement) (Commission 54-2173100
(State or other File Number) 54-2173101
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-D
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-D 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-D 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-D 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 BOAMS2005-D
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 05949A4G2 SEN 4.49163% 34,469,343.88 129,019.47
1-A-2 05949A4H0 SEN 4.49163% 1,312,475.02 4,912.62
1-A-R 05949A4J6 SEN 4.49547% 0.00 0.00
2-A-1 05949A4K3 SEN 4.80331% 24,647,987.34 98,659.87
2-A-2 05949A4L1 SEN 4.80331% 97,017,847.49 388,338.72
2-A-3 05949A4M9 SEN 4.80331% 41,212,000.00 164,961.56
2-A-4 05949A4N7 SEN 4.80331% 71,406,000.00 285,820.75
2-A-5 05949A4P2 SEN 4.80331% 44,652,000.00 178,731.04
2-A-6 05949A4Q0 SEN 4.80331% 46,315,000.00 185,387.62
2-A-7 05949A4R8 SEN 4.80331% 92,221,000.00 369,138.11
3-A-1 05949A4S6 SEN 5.12797% 29,846,686.65 127,544.04
1-IO 05949A4Z0 SEN 0.27100% 0.00 8,392.99
B-1 05949A4T4 SUB 4.79885% 9,159,485.01 36,629.14
B-2 05949A4U1 SUB 4.79885% 3,308,285.68 13,229.96
B-3 05949A4V9 SUB 4.79885% 2,290,121.05 9,158.28
B-4 05949A4W7 SUB 4.79885% 1,017,165.46 4,067.68
B-5 05949A4X5 SUB 4.79885% 763,373.68 3,052.76
B-6 05949A4Y3 SUB 4.79885% 1,273,150.43 5,091.38
Totals 500,911,921.69 2,012,135.99
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-1 844,008.92 0.00 33,625,334.96 973,028.39 0.00
1-A-2 32,136.98 0.00 1,280,338.04 37,049.60 0.00
1-A-R 0.00 0.00 0.00 0.00 0.00
2-A-1 269,702.31 0.00 24,378,285.02 368,362.18 0.00
2-A-2 4,298,342.88 0.00 92,719,504.61 4,686,681.60 0.00
2-A-3 0.00 0.00 41,212,000.00 164,961.56 0.00
2-A-4 0.00 0.00 71,406,000.00 285,820.75 0.00
2-A-5 0.00 0.00 44,652,000.00 178,731.04 0.00
2-A-6 0.00 0.00 46,315,000.00 185,387.62 0.00
2-A-7 0.00 0.00 92,221,000.00 369,138.11 0.00
3-A-1 1,280,322.97 0.00 28,566,363.68 1,407,867.01 0.00
1-IO 0.00 0.00 0.00 8,392.99 0.00
B-1 3,794.18 0.00 9,155,690.83 40,423.32 0.00
B-2 1,370.41 0.00 3,306,915.28 14,600.37 0.00
B-3 948.65 0.00 2,289,172.40 10,106.93 0.00
B-4 421.35 0.00 1,016,744.11 4,489.03 0.00
B-5 316.22 0.00 763,057.47 3,368.98 0.00
B-6 527.38 0.00 1,272,623.05 5,618.76 0.00
Totals 6,731,892.25 0.00 494,180,029.45 8,744,028.24 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 36,768,000.00 34,469,343.88 19,779.94 824,228.98 0.00 0.00
1-A-2 1,400,000.00 1,312,475.02 753.15 31,383.83 0.00 0.00
1-A-R 100.00 0.00 0.00 0.00 0.00 0.00
2-A-1 25,000,000.00 24,647,987.34 9,743.29 259,959.02 0.00 0.00
2-A-2 102,628,000.00 97,017,847.49 155,282.31 4,143,060.57 0.00 0.00
2-A-3 41,212,000.00 41,212,000.00 0.00 0.00 0.00 0.00
2-A-4 71,406,000.00 71,406,000.00 0.00 0.00 0.00 0.00
2-A-5 44,652,000.00 44,652,000.00 0.00 0.00 0.00 0.00
2-A-6 46,315,000.00 46,315,000.00 0.00 0.00 0.00 0.00
2-A-7 92,221,000.00 92,221,000.00 0.00 0.00 0.00 0.00
3-A-1 29,879,000.00 29,846,686.65 14,290.97 1,266,032.00 0.00 0.00
1-IO 0.00 0.00 0.00 0.00 0.00 0.00
B-1 9,167,000.00 9,159,485.01 3,794.18 0.00 0.00 0.00
B-2 3,311,000.00 3,308,285.68 1,370.41 0.00 0.00 0.00
B-3 2,292,000.00 2,290,121.05 948.65 0.00 0.00 0.00
B-4 1,018,000.00 1,017,165.46 421.35 0.00 0.00 0.00
B-5 764,000.00 763,373.68 316.22 0.00 0.00 0.00
B-6 1,274,195.00 1,273,150.43 527.38 0.00 0.00 0.00
Totals 509,307,295.00 500,911,921.69 207,227.85 6,524,664.40 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
1-A-1 844,008.92 33,625,334.96 0.91452717 844,008.92
1-A-2 32,136.98 1,280,338.04 0.91452717 32,136.98
1-A-R 0.00 0.00 0.00000000 0.00
2-A-1 269,702.31 24,378,285.02 0.97513140 269,702.31
2-A-2 4,298,342.88 92,719,504.61 0.90345232 4,298,342.88
2-A-3 0.00 41,212,000.00 1.00000000 0.00
2-A-4 0.00 71,406,000.00 1.00000000 0.00
2-A-5 0.00 44,652,000.00 1.00000000 0.00
2-A-6 0.00 46,315,000.00 1.00000000 0.00
2-A-7 0.00 92,221,000.00 1.00000000 0.00
3-A-1 1,280,322.97 28,566,363.68 0.95606826 1,280,322.97
1-IO 0.00 0.00 0.00000000 0.00
B-1 3,794.18 9,155,690.83 0.99876632 3,794.18
B-2 1,370.41 3,306,915.28 0.99876632 1,370.41
B-3 948.65 2,289,172.40 0.99876632 948.65
B-4 421.35 1,016,744.11 0.99876632 421.35
B-5 316.22 763,057.47 0.99876632 316.22
B-6 527.38 1,272,623.05 0.99876632 527.38
Totals 6,731,892.25 494,180,029.45 0.97029835 6,731,892.25
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 36,768,000.00 937.48215513 0.53796617 22.41701969 0.00000000
1-A-2 1,400,000.00 937.48215714 0.53796429 22.41702143 0.00000000
1-A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 25,000,000.00 985.91949360 0.38973160 10.39836080 0.00000000
2-A-2 102,628,000.00 945.33506928 1.51305989 40.36969024 0.00000000
2-A-3 41,212,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-4 71,406,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-5 44,652,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-6 46,315,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-7 92,221,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
3-A-1 29,879,000.00 998.91852639 0.47829479 42.37196693 0.00000000
1-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 9,167,000.00 999.18021272 0.41389549 0.00000000 0.00000000
B-2 3,311,000.00 999.18021142 0.41389610 0.00000000 0.00000000
B-3 2,292,000.00 999.18021379 0.41389616 0.00000000 0.00000000
B-4 1,018,000.00 999.18021611 0.41389980 0.00000000 0.00000000
B-5 764,000.00 999.18020942 0.41390052 0.00000000 0.00000000
B-6 1,274,195.00 999.18021182 0.41389269 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 22.95498586 914.52716928 0.91452717 22.95498586
1-A-2 0.00000000 22.95498571 914.52717143 0.91452717 22.95498571
1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 0.00000000 10.78809240 975.13140080 0.97513140 10.78809240
2-A-2 0.00000000 41.88275013 903.45231915 0.90345232 41.88275013
2-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2-A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2-A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2-A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
3-A-1 0.00000000 42.85026172 956.06826467 0.95606826 42.85026172
1-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.41389549 998.76631722 0.99876632 0.41389549
B-2 0.00000000 0.41389610 998.76631833 0.99876632 0.41389610
B-3 0.00000000 0.41389616 998.76631763 0.99876632 0.41389616
B-4 0.00000000 0.41389980 998.76631631 0.99876632 0.41389980
B-5 0.00000000 0.41390052 998.76632199 0.99876632 0.41390052
B-6 0.00000000 0.41389269 998.76631913 0.99876632 0.41389269
<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 36,768,000.00 4.49163% 34,469,343.88 129,019.47 0.00 0.00
1-A-2 1,400,000.00 4.49163% 1,312,475.02 4,912.62 0.00 0.00
1-A-R 100.00 4.49547% 0.00 0.00 0.00 0.00
2-A-1 25,000,000.00 4.80331% 24,647,987.34 98,659.87 0.00 0.00
2-A-2 102,628,000.00 4.80331% 97,017,847.49 388,338.72 0.00 0.00
2-A-3 41,212,000.00 4.80331% 41,212,000.00 164,961.56 0.00 0.00
2-A-4 71,406,000.00 4.80331% 71,406,000.00 285,820.75 0.00 0.00
2-A-5 44,652,000.00 4.80331% 44,652,000.00 178,731.04 0.00 0.00
2-A-6 46,315,000.00 4.80331% 46,315,000.00 185,387.62 0.00 0.00
2-A-7 92,221,000.00 4.80331% 92,221,000.00 369,138.11 0.00 0.00
3-A-1 29,879,000.00 5.12797% 29,846,686.65 127,544.04 0.00 0.00
1-IO 0.00 0.27100% 37,164,552.33 8,392.99 0.00 0.00
B-1 9,167,000.00 4.79885% 9,159,485.01 36,629.14 0.00 0.00
B-2 3,311,000.00 4.79885% 3,308,285.68 13,229.96 0.00 0.00
B-3 2,292,000.00 4.79885% 2,290,121.05 9,158.28 0.00 0.00
B-4 1,018,000.00 4.79885% 1,017,165.46 4,067.68 0.00 0.00
B-5 764,000.00 4.79885% 763,373.68 3,052.76 0.00 0.00
B-6 1,274,195.00 4.79885% 1,273,150.43 5,091.38 0.00 0.00
Totals 509,307,295.00 2,012,135.99 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 0.00 129,019.47 0.00 33,625,334.96
1-A-2 0.00 0.00 4,912.62 0.00 1,280,338.04
1-A-R 0.00 0.00 0.00 0.00 0.00
2-A-1 0.00 0.00 98,659.87 0.00 24,378,285.02
2-A-2 0.00 0.00 388,338.72 0.00 92,719,504.61
2-A-3 0.00 0.00 164,961.56 0.00 41,212,000.00
2-A-4 0.00 0.00 285,820.75 0.00 71,406,000.00
2-A-5 0.00 0.00 178,731.04 0.00 44,652,000.00
2-A-6 0.00 0.00 185,387.62 0.00 46,315,000.00
2-A-7 0.00 0.00 369,138.11 0.00 92,221,000.00
3-A-1 0.00 0.00 127,544.04 0.00 28,566,363.68
1-IO 0.00 0.00 8,392.99 0.00 36,287,612.96
B-1 0.00 0.00 36,629.14 0.00 9,155,690.83
B-2 0.00 0.00 13,229.96 0.00 3,306,915.28
B-3 0.00 0.00 9,158.28 0.00 2,289,172.40
B-4 0.00 0.00 4,067.68 0.00 1,016,744.11
B-5 0.00 0.00 3,052.76 0.00 763,057.47
B-6 0.00 0.00 5,091.38 0.00 1,272,623.05
Totals 0.00 0.00 2,012,135.99 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 36,768,000.00 4.49163% 937.48215513 3.50901518 0.00000000 0.00000000
1-A-2 1,400,000.00 4.49163% 937.48215714 3.50901429 0.00000000 0.00000000
1-A-R 100.00 4.49547% 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 25,000,000.00 4.80331% 985.91949360 3.94639480 0.00000000 0.00000000
2-A-2 102,628,000.00 4.80331% 945.33506928 3.78394512 0.00000000 0.00000000
2-A-3 41,212,000.00 4.80331% 1000.00000000 4.00275551 0.00000000 0.00000000
2-A-4 71,406,000.00 4.80331% 1000.00000000 4.00275537 0.00000000 0.00000000
2-A-5 44,652,000.00 4.80331% 1000.00000000 4.00275553 0.00000000 0.00000000
2-A-6 46,315,000.00 4.80331% 1000.00000000 4.00275548 0.00000000 0.00000000
2-A-7 92,221,000.00 4.80331% 1000.00000000 4.00275545 0.00000000 0.00000000
3-A-1 29,879,000.00 5.12797% 998.91852639 4.26868503 0.00000000 0.00000000
1-IO 0.00 0.27100% 939.62669325 0.21219891 0.00000000 0.00000000
B-1 9,167,000.00 4.79885% 999.18021272 3.99576088 0.00000000 0.00000000
B-2 3,311,000.00 4.79885% 999.18021142 3.99575959 0.00000000 0.00000000
B-3 2,292,000.00 4.79885% 999.18021379 3.99575916 0.00000000 0.00000000
B-4 1,018,000.00 4.79885% 999.18021611 3.99575639 0.00000000 0.00000000
B-5 764,000.00 4.79885% 999.18020942 3.99575916 0.00000000 0.00000000
B-6 1,274,195.00 4.79885% 999.18021182 3.99576203 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 3.50901518 0.00000000 914.52716928
1-A-2 0.00000000 0.00000000 3.50901429 0.00000000 914.52717143
1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 0.00000000 0.00000000 3.94639480 0.00000000 975.13140080
2-A-2 0.00000000 0.00000000 3.78394512 0.00000000 903.45231915
2-A-3 0.00000000 0.00000000 4.00275551 0.00000000 1000.00000000
2-A-4 0.00000000 0.00000000 4.00275537 0.00000000 1000.00000000
2-A-5 0.00000000 0.00000000 4.00275553 0.00000000 1000.00000000
2-A-6 0.00000000 0.00000000 4.00275548 0.00000000 1000.00000000
2-A-7 0.00000000 0.00000000 4.00275545 0.00000000 1000.00000000
3-A-1 0.00000000 0.00000000 4.26868503 0.00000000 956.06826467
1-IO 0.00000000 0.00000000 0.21219891 0.00000000 917.45514566
B-1 0.00000000 0.00000000 3.99576088 0.00000000 998.76631722
B-2 0.00000000 0.00000000 3.99575959 0.00000000 998.76631833
B-3 0.00000000 0.00000000 3.99575916 0.00000000 998.76631763
B-4 0.00000000 0.00000000 3.99575639 0.00000000 998.76631631
B-5 0.00000000 0.00000000 3.99575916 0.00000000 998.76632199
B-6 0.00000000 0.00000000 3.99576203 0.00000000 998.76631913
<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 8,852,506.96
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 8,852,506.96
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 108,478.72
Payment of Interest and Principal 8,744,028.24
Total Withdrawals (Pool Distribution Amount) 8,852,506.96
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 108,228.20
Trustee Fee - Wells Fargo Bank, N.A. 250.52
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 108,478.72
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 9 0 0 0 9
3,816,001.22 0.00 0.00 0.00 3,816,001.22
60 Days 1 0 0 0 1
550,000.00 0.00 0.00 0.00 550,000.00
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 10 0 0 0 10
4,366,001.22 0.00 0.00 0.00 4,366,001.22
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 0.865385% 0.000000% 0.000000% 0.000000% 0.865385%
0.771921% 0.000000% 0.000000% 0.000000% 0.771921%
60 Days 0.096154% 0.000000% 0.000000% 0.000000% 0.096154%
0.111257% 0.000000% 0.000000% 0.000000% 0.111257%
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 0.961538% 0.000000% 0.000000% 0.000000% 0.961538%
0.883178% 0.000000% 0.000000% 0.000000% 0.883178%
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 2 0 0 0 2
1,286,926.48 0.00 0.00 0.00 1,286,926.48
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 2 0 0 0 2
1,286,926.48 0.00 0.00 0.00 1,286,926.48
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.105263% 0.000000% 0.000000% 0.000000% 2.105263%
3.544741% 0.000000% 0.000000% 0.000000% 3.544741%
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 2.105263% 0.000000% 0.000000% 0.000000% 2.105263%
3.544741% 0.000000% 0.000000% 0.000000% 3.544741%
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 7 0 0 0 7
2,529,074.74 0.00 0.00 0.00 2,529,074.74
60 Days 1 0 0 0 1
550,000.00 0.00 0.00 0.00 550,000.00
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 8 0 0 0 8
3,079,074.74 0.00 0.00 0.00 3,079,074.74
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.792752% 0.000000% 0.000000% 0.000000% 0.792752%
0.590373% 0.000000% 0.000000% 0.000000% 0.590373%
60 Days 0.113250% 0.000000% 0.000000% 0.000000% 0.113250%
0.128389% 0.000000% 0.000000% 0.000000% 0.128389%
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 0.906002% 0.000000% 0.000000% 0.000000% 0.906002%
0.718762% 0.000000% 0.000000% 0.000000% 0.718762%
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%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 19,834.43
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.
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.
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 5.080209%
Weighted Average Net Coupon 4.820935%
Weighted Average Pass-Through Rate 4.820335%
Weighted Average Maturity(Stepdown Calculation) 356
Beginning Scheduled Collateral Loan Count 1,052
Number Of Loans Paid In Full 12
Ending Scheduled Collateral Loan Count 1,040
Beginning Scheduled Collateral Balance 500,911,922.65
Ending Scheduled Collateral Balance 494,180,030.41
Ending Actual Collateral Balance at 30-Jun-2005 494,351,390.17
Monthly P&I Constant 2,327,842.20
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 207,227.84
Unscheduled Principal 6,524,664.40
Ancillary Fees $1,778.55
Miscellaneous Reporting
Total Senior Percentage 96.444169%
Aggregate Senior Percentage 3.555831%
Group Level Collateral Statement
Group 1- Three Year ARM 2- Five Year ARM 3- Seven Year ARM
Collateral Description Mixed ARM Mixed ARM Mixed ARM
Weighted Average Coupon Rate 5.138225 5.053906 5.378568
Weighted Average Net Rate 4.763225 4.803906 5.128568
Weighted Average Maturity 354 356 356
Beginning Loan Count 97 891 64
Loans Paid In Full 2 8 2
Ending Loan Count 95 883 62
Beginning Scheduled Balance 37,164,552.33 432,817,898.15 30,929,472.17
Ending Scheduled Balance 36,287,612.96 428,243,786.70 29,648,630.75
Record Date 06/30/2005 06/30/2005 06/30/2005
Principal And Interest Constant 180,459.75 1,993,942.80 153,439.65
Scheduled Principal 21,326.56 171,091.86 14,809.42
Unscheduled Principal 855,612.81 4,403,019.59 1,266,032.00
Scheduled Interest 159,133.19 1,822,850.94 138,630.23
Servicing Fees 11,613.92 90,170.40 6,443.64
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 18.58 216.41 15.46
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 147,500.69 1,732,464.13 132,171.13
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 4.762625 4.803306 5.127968
Group Level Collateral Statement
Group Total
Collateral Description Mixed ARM
Weighted Average Coupon Rate 5.080209
Weighted Average Net Rate 4.820935
Weighted Average Maturity 356
Beginning Loan Count 1,052
Loans Paid In Full 12
Ending Loan Count 1,040
Beginning Scheduled Balance 500,911,922.65
Ending scheduled Balance 494,180,030.41
Record Date 06/30/2005
Principal And Interest Constant 2,327,842.20
Scheduled Principal 207,227.84
Unscheduled Principal 6,524,664.40
Scheduled Interest 2,120,614.36
Servicing Fees 108,227.96
Master Servicing Fees 0.00
Trustee Fee 250.45
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 0.00
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 2,012,135.95
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Prepayment Penalties 0.00
Special Servicing Fee 0.00
Pass-Through Rate 4.820335
Miscellaneous Reporting
Group 1- Three Year ARM
CPR 24.395892%
Subordinate Percentage 3.720570%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.279430%
Group 2- Five Year ARM
CPR 11.551429%
Subordinate Percentage 3.545616%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.454384%
Group 3- Seven Year ARM
CPR 39.454546%
Subordinate Percentage 3.500821%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.499179%
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 2 856,000.00 853,892.26 0 0.00 0.00
2- Five Year ARM 8 3,638,510.00 3,637,153.55 0 0.00 0.00
3- Seven Year ARM 2 1,049,000.00 1,047,665.99 0 0.00 0.00
Total 12 5,543,510.00 5,538,711.80 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 2,147.52
2- Five Year ARM 0 0.00 0.00 0 0.00 0.00 766,322.53
3- Seven Year ARM 0 0.00 0.00 0 0.00 0.00 218,814.86
Total 0 0.00 0.00 0 0.00 0.00 987,284.91
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- Three Year ARM 6065564343 OR 80.00 01-Apr-2005 500,000.00 500,000.00
1- Three Year ARM 6309690987 FL 80.00 01-Feb-2005 356,000.00 353,465.29
2- Five Year ARM 6005422727 CA 73.46 01-May-2005 418,750.00 418,750.00
2- Five Year ARM 6031173971 AZ 90.00 01-Nov-2004 180,900.00 180,900.00
2- Five Year ARM 6495002427 CA 47.88 01-Apr-2005 431,000.00 429,187.06
2- Five Year ARM 6533670508 CA 52.22 01-May-2005 470,000.00 470,000.00
2- Five Year ARM 6595006039 SC 80.00 01-May-2005 479,920.00 479,920.00
2- Five Year ARM 6700740647 CA 70.00 01-May-2005 906,500.00 906,500.00
2- Five Year ARM 6783359968 AZ 80.00 01-May-2005 399,000.00 399,000.00
2- Five Year ARM 6956576216 VA 90.00 01-Feb-2005 352,440.00 352,440.00
3- Seven Year ARM 3301409839 CA 90.00 01-Apr-2005 414,000.00 412,217.14
3- Seven Year ARM 6977795084 CA 79.37 01-Apr-2005 635,000.00 635,000.00
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>
1- Three Year ARM 6065564343 Loan Paid in Full 0 4.875% 360 3
1- Three Year ARM 6309690987 Loan Paid in Full 0 5.125% 360 5
2- Five Year ARM 6005422727 Loan Paid in Full 0 5.875% 360 2
2- Five Year ARM 6031173971 Loan Paid in Full 0 5.125% 360 8
2- Five Year ARM 6495002427 Loan Paid in Full 0 5.750% 360 3
2- Five Year ARM 6533670508 Loan Paid in Full 0 5.625% 360 2
2- Five Year ARM 6595006039 Loan Paid in Full (1) 5.000% 360 2
2- Five Year ARM 6700740647 Loan Paid in Full 0 4.875% 360 2
2- Five Year ARM 6783359968 Loan Paid in Full 0 5.125% 360 2
2- Five Year ARM 6956576216 Loan Paid in Full 0 6.500% 360 5
3- Seven Year ARM 3301409839 Loan Paid in Full 0 5.625% 360 3
3- Seven Year ARM 6977795084 Loan Paid in Full 0 5.750% 360 3
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.303% Current Month 14.564% Current Month 2,644.903%
3 Month Average 0.959% 3 Month Average 10.879% 3 Month Average 3,576.858%
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 7.745% N/A May-2005 5,142.207% N/A
Jun-2005 10.328% N/A Jun-2005 2,943.464% N/A
Jul-2005 14.564% N/A Jul-2005 2,644.903% 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 2.304% Current Month 24.396% Current Month 3,323.084%
3 Month Average 2.773% 3 Month Average 28.576% 3 Month Average 6,042.272%
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 28.887% N/A May-2005 8,738.111% N/A
Jun-2005 32.444% N/A Jun-2005 6,065.621% N/A
Jul-2005 24.396% N/A Jul-2005 3,323.084% 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 1.018% Current Month 11.551% Current Month 2,169.950%
3 Month Average 0.769% 3 Month Average 8.821% 3 Month Average 3,150.237%
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 6.117% N/A May-2005 4,633.863% N/A
Jun-2005 8.796% N/A Jun-2005 2,646.899% N/A
Jul-2005 11.551% N/A Jul-2005 2,169.950% 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 4.095% Current Month 39.455% Current Month 6,683.527%
3 Month Average 1.368% 3 Month Average 13.187% 3 Month Average 2,237.265%
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 0.004% N/A May-2005 2.335% N/A
Jun-2005 0.101% N/A Jun-2005 25.933% N/A
Jul-2005 39.455% N/A Jul-2005 6,683.527% 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%
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 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 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 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- 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 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 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 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- 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 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 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 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.
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 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 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 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>