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-A Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-10
Pooling and Servicing Agreement) (Commission 54-2165626
(State or other File Number) 54-2165627
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-A
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-A 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-A 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-A 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 2005-A
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
1A1 05949AH52 SEN 4.07651% 90,829,358.22 308,555.46
1AR 05949AH60 SEN 4.07103% 0.00 0.00
1ALR 05949AH78 SEN 4.07103% 0.00 0.00
2A1 05949AH86 SEN 4.47930% 230,492,891.00 860,373.03
2A2 05949AH94 SEN 4.47930% 134,973,659.51 503,823.33
2A3 05949AJ27 SEN 4.47930% 4,750,881.36 17,733.87
3A1 05949AJ35 SEN 5.05844% 36,997,568.15 155,958.44
4A1 05949AJ43 SEN 5.22134% 42,051,796.55 182,972.19
1IO 05949AJ84 SEN 0.31700% 0.00 24,913.14
2IO 05949AJ92 SEN 0.17100% 0.00 54,690.88
4IO 05949AK25 SEN 0.03230% 0.00 1,173.07
B1 05949AJ50 SUB 4.50518% 10,555,788.98 39,629.78
B2 05949AJ68 SUB 4.50518% 3,811,175.44 14,308.36
B3 05949AJ76 SUB 4.50518% 2,051,711.04 7,702.77
B4 05949AK33 SUB 4.50518% 1,466,220.33 5,504.66
B5 05949AK41 SUB 4.50518% 879,732.20 3,302.79
B6 05949AK58 SUB 4.50518% 1,172,882.50 4,403.37
Totals 560,033,665.28 2,185,045.14
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1A1 1,761,917.99 0.00 89,067,440.23 2,070,473.45 0.00
1AR 0.00 0.00 0.00 0.00 0.00
1ALR 0.00 0.00 0.00 0.00 0.00
2A1 2,294,660.23 0.00 228,198,230.76 3,155,033.26 0.00
2A2 1,343,723.39 0.00 133,629,936.12 1,847,546.72 0.00
2A3 47,297.16 0.00 4,703,584.21 65,031.03 0.00
3A1 479,975.02 0.00 36,517,593.13 635,933.46 0.00
4A1 1,488,002.22 0.00 40,563,794.33 1,670,974.41 0.00
1IO 0.00 0.00 0.00 24,913.14 0.00
2IO 0.00 0.00 0.00 54,690.88 0.00
4IO 0.00 0.00 0.00 1,173.07 0.00
B1 5,513.59 0.00 10,550,275.39 45,143.37 0.00
B2 1,990.69 0.00 3,809,184.75 16,299.05 0.00
B3 1,071.67 0.00 2,050,639.37 8,774.44 0.00
B4 765.85 0.00 1,465,454.49 6,270.51 0.00
B5 459.51 0.00 879,272.69 3,762.30 0.00
B6 612.63 0.00 1,172,269.87 5,016.00 0.00
Totals 7,425,989.95 0.00 552,607,675.34 9,611,035.09 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
This report has been compiled from information provided to Wells Fargo Bank, N.A. by various
third parties, which may include the Servicer, Master Servicer, Special Servicer and others.
Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received
from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly
disclaims any responsibility for the accuracy or completeness of information furnished by
third parties.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
1A1 99,118,000.00 90,829,358.22 51,142.13 1,710,775.86 0.00 0.00
1AR 50.00 0.00 0.00 0.00 0.00 0.00
1ALR 50.00 0.00 0.00 0.00 0.00 0.00
2A1 240,784,000.00 230,492,891.00 119,894.91 2,174,765.33 0.00 0.00
2A2 141,000,000.00 134,973,659.51 70,208.91 1,273,514.48 0.00 0.00
2A3 4,963,000.00 4,750,881.36 2,471.25 44,825.90 0.00 0.00
3A1 38,460,000.00 36,997,568.15 20,267.50 459,707.52 0.00 0.00
4A1 43,554,000.00 42,051,796.55 17,930.88 1,470,071.34 0.00 0.00
1IO 0.00 0.00 0.00 0.00 0.00 0.00
2IO 0.00 0.00 0.00 0.00 0.00 0.00
4IO 0.00 0.00 0.00 0.00 0.00 0.00
B1 10,583,000.00 10,555,788.98 5,513.59 0.00 0.00 0.00
B2 3,821,000.00 3,811,175.44 1,990.69 0.00 0.00 0.00
B3 2,057,000.00 2,051,711.04 1,071.67 0.00 0.00 0.00
B4 1,470,000.00 1,466,220.33 765.85 0.00 0.00 0.00
B5 882,000.00 879,732.20 459.51 0.00 0.00 0.00
B6 1,175,905.98 1,172,882.50 612.63 0.00 0.00 0.00
Totals 587,868,005.98 560,033,665.28 292,329.52 7,133,660.43 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
1A1 1,761,917.99 89,067,440.23 0.89860005 1,761,917.99
1AR 0.00 0.00 0.00000000 0.00
1ALR 0.00 0.00 0.00000000 0.00
2A1 2,294,660.23 228,198,230.76 0.94773004 2,294,660.23
2A2 1,343,723.39 133,629,936.12 0.94773004 1,343,723.39
2A3 47,297.16 4,703,584.21 0.94773004 47,297.16
3A1 479,975.02 36,517,593.13 0.94949540 479,975.02
4A1 1,488,002.22 40,563,794.33 0.93134487 1,488,002.22
1IO 0.00 0.00 0.00000000 0.00
2IO 0.00 0.00 0.00000000 0.00
4IO 0.00 0.00 0.00000000 0.00
B1 5,513.59 10,550,275.39 0.99690781 5,513.59
B2 1,990.69 3,809,184.75 0.99690781 1,990.69
B3 1,071.67 2,050,639.37 0.99690781 1,071.67
B4 765.85 1,465,454.49 0.99690782 765.85
B5 459.51 879,272.69 0.99690781 459.51
B6 612.63 1,172,269.87 0.99690782 612.63
Totals 7,425,989.95 552,607,675.34 0.94001999 7,425,989.95
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
1A1 99,118,000.00 916.37601868 0.51597217 17.25999173 0.00000000
1AR 50.00 0.00000000 0.00000000 0.00000000 0.00000000
1ALR 50.00 0.00000000 0.00000000 0.00000000 0.00000000
2A1 240,784,000.00 957.25999651 0.49793554 9.03201762 0.00000000
2A2 141,000,000.00 957.25999652 0.49793553 9.03201759 0.00000000
2A3 4,963,000.00 957.25999597 0.49793472 9.03201693 0.00000000
3A1 38,460,000.00 961.97525091 0.52697608 11.95287363 0.00000000
4A1 43,554,000.00 965.50940327 0.41169307 33.75284337 0.00000000
1IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
2IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
4IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B1 10,583,000.00 997.42879902 0.52098554 0.00000000 0.00000000
B2 3,821,000.00 997.42879874 0.52098665 0.00000000 0.00000000
B3 2,057,000.00 997.42879922 0.52098687 0.00000000 0.00000000
B4 1,470,000.00 997.42879592 0.52098639 0.00000000 0.00000000
B5 882,000.00 997.42879819 0.52098639 0.00000000 0.00000000
B6 1,175,905.98 997.42880804 0.52098553 0.00000000 0.00000000
<FN>
(2) All Classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
1A1 0.00000000 17.77596390 898.60005478 0.89860005 17.77596390
1AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1ALR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2A1 0.00000000 9.52995311 947.73004336 0.94773004 9.52995311
2A2 0.00000000 9.52995312 947.73004340 0.94773004 9.52995312
2A3 0.00000000 9.52995366 947.73004433 0.94773004 9.52995366
3A1 0.00000000 12.47984971 949.49540120 0.94949540 12.47984971
4A1 0.00000000 34.16453644 931.34486683 0.93134487 34.16453644
1IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
4IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B1 0.00000000 0.52098554 996.90781347 0.99690781 0.52098554
B2 0.00000000 0.52098665 996.90781209 0.99690781 0.52098665
B3 0.00000000 0.52098687 996.90781235 0.99690781 0.52098687
B4 0.00000000 0.52098639 996.90781633 0.99690782 0.52098639
B5 0.00000000 0.52098639 996.90781179 0.99690781 0.52098639
B6 0.00000000 0.52098553 996.90782251 0.99690782 0.52098553
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1A1 99,118,000.00 4.07651% 90,829,358.22 308,555.46 0.00 0.00
1AR 50.00 4.07103% 0.00 0.00 0.00 0.00
1ALR 50.00 4.07103% 0.00 0.00 0.00 0.00
2A1 240,784,000.00 4.47930% 230,492,891.00 860,373.03 0.00 0.00
2A2 141,000,000.00 4.47930% 134,973,659.51 503,823.33 0.00 0.00
2A3 4,963,000.00 4.47930% 4,750,881.36 17,733.87 0.00 0.00
3A1 38,460,000.00 5.05844% 36,997,568.15 155,958.44 0.00 0.00
4A1 43,554,000.00 5.22134% 42,051,796.55 182,972.19 0.00 0.00
1IO 0.00 0.31700% 94,308,430.30 24,913.14 0.00 0.00
2IO 0.00 0.17100% 383,795,614.98 54,690.88 0.00 0.00
4IO 0.00 0.03230% 43,581,692.39 1,173.07 0.00 0.00
B1 10,583,000.00 4.50518% 10,555,788.98 39,629.78 0.00 0.00
B2 3,821,000.00 4.50518% 3,811,175.44 14,308.36 0.00 0.00
B3 2,057,000.00 4.50518% 2,051,711.04 7,702.77 0.00 0.00
B4 1,470,000.00 4.50518% 1,466,220.33 5,504.66 0.00 0.00
B5 882,000.00 4.50518% 879,732.20 3,302.79 0.00 0.00
B6 1,175,905.98 4.50518% 1,172,882.50 4,403.37 0.00 0.00
Totals 587,868,005.98 2,185,045.14 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1A1 0.00 0.00 308,555.46 0.00 89,067,440.23
1AR 0.00 0.00 0.00 0.00 0.00
1ALR 0.00 0.00 0.00 0.00 0.00
2A1 0.00 0.00 860,373.03 0.00 228,198,230.76
2A2 0.00 0.00 503,823.33 0.00 133,629,936.12
2A3 0.00 0.00 17,733.87 0.00 4,703,584.21
3A1 0.00 0.00 155,958.44 0.00 36,517,593.13
4A1 0.00 0.00 182,972.19 0.00 40,563,794.33
1IO 0.00 0.00 24,913.14 0.00 92,544,553.39
2IO 0.00 0.00 54,690.88 0.00 380,102,871.27
4IO 0.00 0.00 1,173.07 0.00 42,093,037.82
B1 0.00 0.00 39,629.78 0.00 10,550,275.39
B2 0.00 0.00 14,308.36 0.00 3,809,184.75
B3 0.00 0.00 7,702.77 0.00 2,050,639.37
B4 0.00 0.00 5,504.66 0.00 1,465,454.49
B5 0.00 0.00 3,302.79 0.00 879,272.69
B6 0.00 0.00 4,403.37 0.00 1,172,269.87
Totals 0.00 0.00 2,185,045.14 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1A1 99,118,000.00 4.07651% 916.37601868 3.11301136 0.00000000 0.00000000
1AR 50.00 4.07103% 0.00000000 0.00000000 0.00000000 0.00000000
1ALR 50.00 4.07103% 0.00000000 0.00000000 0.00000000 0.00000000
2A1 240,784,000.00 4.47930% 957.25999651 3.57321512 0.00000000 0.00000000
2A2 141,000,000.00 4.47930% 957.25999652 3.57321511 0.00000000 0.00000000
2A3 4,963,000.00 4.47930% 957.25999597 3.57321580 0.00000000 0.00000000
3A1 38,460,000.00 5.05844% 961.97525091 4.05508164 0.00000000 0.00000000
4A1 43,554,000.00 5.22134% 965.50940327 4.20104215 0.00000000 0.00000000
1IO 0.00 0.31700% 919.12447214 0.24280201 0.00000000 0.00000000
2IO 0.00 0.17100% 958.62613723 0.13660424 0.00000000 0.00000000
4IO 0.00 0.03230% 966.61145717 0.02601787 0.00000000 0.00000000
B1 10,583,000.00 4.50518% 997.42879902 3.74466408 0.00000000 0.00000000
B2 3,821,000.00 4.50518% 997.42879874 3.74466370 0.00000000 0.00000000
B3 2,057,000.00 4.50518% 997.42879922 3.74466213 0.00000000 0.00000000
B4 1,470,000.00 4.50518% 997.42879592 3.74466667 0.00000000 0.00000000
B5 882,000.00 4.50518% 997.42879819 3.74465986 0.00000000 0.00000000
B6 1,175,905.98 4.50518% 997.42880804 3.74466163 0.00000000 0.00000000
<FN>
(5) All Classes are per $1,000 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1A1 0.00000000 0.00000000 3.11301136 0.00000000 898.60005478
1AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1ALR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2A1 0.00000000 0.00000000 3.57321512 0.00000000 947.73004336
2A2 0.00000000 0.00000000 3.57321511 0.00000000 947.73004340
2A3 0.00000000 0.00000000 3.57321580 0.00000000 947.73004433
3A1 0.00000000 0.00000000 4.05508164 0.00000000 949.49540120
4A1 0.00000000 0.00000000 4.20104215 0.00000000 931.34486683
1IO 0.00000000 0.00000000 0.24280201 0.00000000 901.93383045
2IO 0.00000000 0.00000000 0.13660424 0.00000000 949.40258047
4IO 0.00000000 0.00000000 0.02601787 0.00000000 933.59413994
B1 0.00000000 0.00000000 3.74466408 0.00000000 996.90781347
B2 0.00000000 0.00000000 3.74466370 0.00000000 996.90781209
B3 0.00000000 0.00000000 3.74466213 0.00000000 996.90781235
B4 0.00000000 0.00000000 3.74466667 0.00000000 996.90781633
B5 0.00000000 0.00000000 3.74465986 0.00000000 996.90781179
B6 0.00000000 0.00000000 3.74466163 0.00000000 996.90782251
<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 9,739,632.68
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 9,739,632.68
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 128,597.59
Payment of Interest and Principal 9,611,035.09
Total Withdrawals (Pool Distribution Amount) 9,739,632.68
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 126,497.47
Trustee Fee - Wells Fargo Bank, N.A. 2,100.12
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 128,597.59
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 5 0 0 0 5
3,159,627.21 0.00 0.00 0.00 3,159,627.21
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 5 0 0 0 5
3,159,627.21 0.00 0.00 0.00 3,159,627.21
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 0.478011% 0.000000% 0.000000% 0.000000% 0.478011%
0.571517% 0.000000% 0.000000% 0.000000% 0.571517%
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 0.478011% 0.000000% 0.000000% 0.000000% 0.478011%
0.571517% 0.000000% 0.000000% 0.000000% 0.571517%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 3 0 0 0 3
1,719,643.88 0.00 0.00 0.00 1,719,643.88
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 3 0 0 0 3
1,719,643.88 0.00 0.00 0.00 1,719,643.88
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.724138% 0.000000% 0.000000% 0.000000% 1.724138%
1.857353% 0.000000% 0.000000% 0.000000% 1.857353%
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 1.724138% 0.000000% 0.000000% 0.000000% 1.724138%
1.857353% 0.000000% 0.000000% 0.000000% 1.857353%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
440,000.00 0.00 0.00 0.00 440,000.00
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 1 0 0 0 1
440,000.00 0.00 0.00 0.00 440,000.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.138504% 0.000000% 0.000000% 0.000000% 0.138504%
0.115707% 0.000000% 0.000000% 0.000000% 0.115707%
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 0.138504% 0.000000% 0.000000% 0.000000% 0.138504%
0.115707% 0.000000% 0.000000% 0.000000% 0.115707%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
3 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
4 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
999,983.33 0.00 0.00 0.00 999,983.33
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
999,983.33 0.00 0.00 0.00 999,983.33
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.265823% 0.000000% 0.000000% 0.000000% 1.265823%
2.374756% 0.000000% 0.000000% 0.000000% 2.374756%
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 1.265823% 0.000000% 0.000000% 0.000000% 1.265823%
2.374756% 0.000000% 0.000000% 0.000000% 2.374756%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 12,509.10
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 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 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 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current REO Total Dec-04 0.000%
Loans in REO 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
4 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 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 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 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current Foreclosure Total Dec-04 0.000%
Loans in Foreclosure 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
4 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 4.957508%
Weighted Average Net Coupon 4.686458%
Weighted Average Pass-Through Rate 4.681958%
Weighted Average Maturity(Stepdown Calculation) 353
Beginning Scheduled Collateral Loan Count 1,058
Number Of Loans Paid In Full 12
Ending Scheduled Collateral Loan Count 1,046
Beginning Scheduled Collateral Balance 560,033,665.28
Ending Scheduled Collateral Balance 552,607,675.33
Ending Actual Collateral Balance at 30-Jun-2005 552,849,590.80
Monthly P&I Constant 2,605,972.16
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 292,329.52
Unscheduled Principal 7,133,660.43
Miscellaneous Reporting
Total Senior Percentage 96.439945%
Aggregate Senior Percentage 3.560055%
Group Level Collateral Statement
Group 1 2 3
Collateral Description 3 Year LIBOR Arm 5 Year LIBOR Arm 7 Year LIBOR Arm
Weighted Average Coupon Rate 4.773007 4.904803 5.312943
Weighted Average Net Rate 4.398007 4.654803 5.062943
Weighted Average Maturity 353 352 353
Beginning Loan Count 178 728 72
Loans Paid In Full 4 6 1
Ending Loan Count 174 722 71
Beginning Scheduled Balance 94,308,430.30 383,795,614.98 38,347,927.61
Ending Scheduled Balance 92,544,553.39 380,102,871.27 37,867,212.85
Record Date 06/30/2005 06/30/2005 06/30/2005
Principal And Interest Constant 428,213.36 1,768,339.71 190,790.88
Scheduled Principal 53,101.05 199,638.00 21,007.24
Unscheduled Principal 1,710,775.86 3,493,105.71 459,707.52
Scheduled Interest 375,112.31 1,568,701.71 169,783.64
Servicing Fees 29,471.38 79,957.42 7,989.15
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 353.66 1,439.23 143.80
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 345,287.27 1,487,305.06 161,650.69
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 4.393507 4.650303 5.058443
Group Level Collateral Statement
Group 4 Total
Collateral Description 7 Year LIBOR Arm Mixed ARM
Weighted Average Coupon Rate 5.508138 4.957508
Weighted Average Net Rate 5.258138 4.686458
Weighted Average Maturity 353 353
Beginning Loan Count 80 1,058
Loans Paid In Full 1 12
Ending Loan Count 79 1,046
Beginning Scheduled Balance 43,581,692.39 560,033,665.28
Ending scheduled Balance 42,093,037.82 552,607,675.33
Record Date 06/30/2005 06/30/2005
Principal And Interest Constant 218,628.21 2,605,972.16
Scheduled Principal 18,583.23 292,329.52
Unscheduled Principal 1,470,071.34 7,133,660.43
Scheduled Interest 200,044.98 2,313,642.64
Servicing Fees 9,079.52 126,497.47
Master Servicing Fees 0.00 0.00
Trustee Fee 163.43 2,100.12
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 0.00 0.00
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 0.00
Spread 2 0.00 0.00
Spread 3 0.00 0.00
Net Interest 190,802.03 2,185,045.05
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 5.253638 4.681958
Miscellaneous Reporting
Group 1
CPR 19.732564%
Subordinate Percentage 3.689036%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.310964%
Group 2
CPR 10.396437%
Subordinate Percentage 3.537868%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.462132%
Group 3
CPR 13.480700%
Subordinate Percentage 3.521336%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.478664%
Miscellaneous Reporting
Group 4
CPR 33.763586%
Subordinate Percentage 3.510409%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.489591%
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 4 1,644,700.00 1,606,312.42 0 0.00 0.00
2 6 2,649,000.00 2,631,411.64 0 0.00 0.00
3 1 460,000.00 457,399.55 0 0.00 0.00
4 1 1,162,000.00 1,162,000.00 0 0.00 0.00
Total 12 5,915,700.00 5,857,123.61 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 0 0.00 0.00 0 0.00 0.00 106,554.24
2 0 0.00 0.00 0 0.00 0.00 864,751.67
3 0 0.00 0.00 0 0.00 0.00 2,835.07
4 0 0.00 0.00 0 0.00 0.00 308,071.34
Total 0 0.00 0.00 0 0.00 0.00 1,282,212.32
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 6583753618 NV 90.00 01-Jan-2005 373,500.00 341,819.40
1 6632911522 CA 79.97 01-Feb-2005 473,600.00 470,227.98
1 6758379439 CA 80.00 01-Feb-2005 404,000.00 401,188.95
1 6860051900 IL 80.00 01-Feb-2005 393,600.00 390,985.29
2 3301136432 FL 71.42 01-Jan-2005 500,000.00 486,195.69
2 6213353326 WI 49.01 01-Feb-2005 371,500.00 371,500.00
2 6317654710 CA 80.00 01-Feb-2005 524,000.00 520,354.03
2 6417614051 FL 90.00 01-Jan-2005 364,500.00 361,395.62
2 6552854843 CA 67.96 01-Jan-2005 505,000.00 504,908.70
2 6612209764 CA 73.14 01-Feb-2005 384,000.00 384,000.00
3 6289002112 AZ 80.00 01-Feb-2005 460,000.00 456,872.45
4 6801826014 IL 64.55 01-Feb-2005 1,162,000.00 1,162,000.00
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 6583753618 Loan Paid in Full 0 4.500% 360 6
1 6632911522 Loan Paid in Full 0 5.125% 360 5
1 6758379439 Loan Paid in Full 0 5.250% 360 5
1 6860051900 Loan Paid in Full (1) 5.500% 360 5
2 3301136432 Loan Paid in Full 0 4.500% 180 6
2 6213353326 Loan Paid in Full (1) 5.250% 360 5
2 6317654710 Loan Paid in Full 0 5.250% 360 5
2 6417614051 Loan Paid in Full 0 5.000% 360 6
2 6552854843 Loan Paid in Full 0 5.125% 360 6
2 6612209764 Loan Paid in Full 0 5.250% 360 5
3 6289002112 Loan Paid in Full 0 5.375% 360 5
4 6801826014 Loan Paid in Full 0 5.375% 360 5
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.274% Current Month 14.266% Current Month 1,292.281%
3 Month Average 1.248% 3 Month Average 13.955% 3 Month Average 1,628.348%
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 5.553% N/A Feb-2005 5,450.015% N/A
Mar-2005 6.072% N/A Mar-2005 2,021.908% N/A
Apr-2005 12.449% N/A Apr-2005 2,473.211% N/A
May-2005 17.118% N/A May-2005 2,432.888% N/A
Jun-2005 10.480% N/A Jun-2005 1,159.876% N/A
Jul-2005 14.266% N/A Jul-2005 1,292.281% 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
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.815% Current Month 19.733% Current Month 1,744.211%
3 Month Average 1.883% 3 Month Average 20.342% 3 Month Average 2,226.955%
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 21.440% N/A Feb-2005 16,941.494% N/A
Mar-2005 10.580% N/A Mar-2005 3,252.710% N/A
Apr-2005 14.860% N/A Apr-2005 2,807.397% N/A
May-2005 16.865% N/A May-2005 2,309.636% N/A
Jun-2005 24.428% N/A Jun-2005 2,627.018% N/A
Jul-2005 19.733% N/A Jul-2005 1,744.211% 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
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.911% Current Month 10.396% Current Month 951.085%
3 Month Average 1.130% 3 Month Average 12.636% 3 Month Average 1,546.793%
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 1.767% N/A Feb-2005 1,912.452% N/A
Mar-2005 6.042% N/A Mar-2005 2,073.906% N/A
Apr-2005 9.208% N/A Apr-2005 1,866.008% N/A
May-2005 18.890% N/A May-2005 2,724.320% N/A
Jun-2005 8.621% N/A Jun-2005 964.975% N/A
Jul-2005 10.396% N/A Jul-2005 951.085% 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
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.199% Current Month 13.481% Current Month 1,206.239%
3 Month Average 0.918% 3 Month Average 10.210% 3 Month Average 1,199.806%
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 3.765% N/A Feb-2005 3,323.072% N/A
Mar-2005 1.168% N/A Mar-2005 375.939% N/A
Apr-2005 16.412% N/A Apr-2005 3,190.507% N/A
May-2005 17.102% N/A May-2005 2,387.888% N/A
Jun-2005 0.048% N/A Jun-2005 5.292% N/A
Jul-2005 13.481% N/A Jul-2005 1,206.239% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
4
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 3.375% Current Month 33.764% Current Month 2,990.665%
3 Month Average 1.181% 3 Month Average 11.922% 3 Month Average 1,070.698%
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 0.736% N/A Feb-2005 609.024% N/A
Mar-2005 0.101% N/A Mar-2005 32.086% N/A
Apr-2005 29.807% N/A Apr-2005 5,683.339% N/A
May-2005 0.161% N/A May-2005 22.252% N/A
Jun-2005 1.842% N/A Jun-2005 199.177% N/A
Jul-2005 33.764% N/A Jul-2005 2,990.665% 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 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
3 0 0.00 0.00 0.000%
4 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
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
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.
3
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.
4
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>