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
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2005-RM2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-123741-02
Pooling and Servicing Agreement) (Commission 54-2173199
(State or other File Number) 54-2173200
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 ACE SECURITIES CORP.
HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series
2005-RM2 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Asset Backed Pass-Through Certificates,
Series 2005-RM2 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.
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2005-RM2 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Securities Administrator
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 7/27/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Pass-Through Certificates, Series 2005-RM2 Trust,
relating to the July 25, 2005 distribution.
EX-99.1
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Record Date: 6/30/2005
Distribution Date: 7/25/2005
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Series 2005-RM2
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>
A-1A 004421NQ2 SEN 3.54438% 203,687,323.38 561,512.99
A-1B 004421NR0 SEN 3.57438% 50,921,830.84 141,566.42
A-2A 004421NS8 SEN 3.40438% 77,663,951.08 205,642.58
A-2B 004421PG2 SEN 3.51438% 50,184,000.00 137,173.28
A-2C 004421PH0 SEN 3.56438% 12,963,000.00 35,937.27
A-2D 004421PJ6 SEN 3.66438% 33,778,000.00 96,269.78
M-1 004421NT6 MEZ 3.75438% 20,952,000.00 61,181.38
M-2 004421NU3 MEZ 3.76438% 18,686,000.00 54,709.83
M-3 004421NV1 MEZ 3.78438% 11,042,000.00 32,501.10
M-4 004421NW9 MEZ 3.94438% 10,193,000.00 31,270.61
M-5 004421NX7 MEZ 3.97438% 9,626,000.00 29,755.74
M-6 004421NY5 MEZ 4.00438% 9,343,000.00 29,098.94
M-7 004421NZ2 MEZ 4.51438% 7,644,000.00 26,839.49
M-8 004421PA5 MEZ 4.61438% 5,946,000.00 21,339.97
M-9 004421PB3 MEZ 5.01438% 5,379,000.00 20,978.49
P ACE05RM2P SEN 0.00000% 100.00 87,414.08
M-10 004421PC1 MEZ 6.31438% 5,096,000.00 25,027.40
M-11 004421PD9 MEZ 6.31438% 5,663,000.00 27,812.04
B-1 004421PE7 SEN 6.31438% 8,777,000.00 43,105.47
B-2 004421PF4 SEN 6.31438% 6,229,000.00 30,591.77
CE AC05RM2CE SEN 0.00000% 6,511,954.80 1,573,608.89
R ACE05RM2R SEN 0.00000% 0.00 0.00
Totals 560,286,160.10 3,273,337.52
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1A 5,144,155.97 0.00 198,543,167.41 5,705,668.96 0.00
A-1B 1,286,038.99 0.00 49,635,791.85 1,427,605.41 0.00
A-2A 5,267,850.91 0.00 72,396,100.17 5,473,493.49 0.00
A-2B 0.00 0.00 50,184,000.00 137,173.28 0.00
A-2C 0.00 0.00 12,963,000.00 35,937.27 0.00
A-2D 0.00 0.00 33,778,000.00 96,269.78 0.00
M-1 0.00 0.00 20,952,000.00 61,181.38 0.00
M-2 0.00 0.00 18,686,000.00 54,709.83 0.00
M-3 0.00 0.00 11,042,000.00 32,501.10 0.00
M-4 0.00 0.00 10,193,000.00 31,270.61 0.00
M-5 0.00 0.00 9,626,000.00 29,755.74 0.00
M-6 0.00 0.00 9,343,000.00 29,098.94 0.00
M-7 0.00 0.00 7,644,000.00 26,839.49 0.00
M-8 0.00 0.00 5,946,000.00 21,339.97 0.00
M-9 0.00 0.00 5,379,000.00 20,978.49 0.00
P 0.00 0.00 100.00 87,414.08 0.00
M-10 0.00 0.00 5,096,000.00 25,027.40 0.00
M-11 0.00 0.00 5,663,000.00 27,812.04 0.00
B-1 0.00 0.00 8,777,000.00 43,105.47 0.00
B-2 0.00 0.00 6,229,000.00 30,591.77 0.00
CE 0.00 0.00 6,511,954.80 1,573,608.89 0.00
R 0.00 0.00 0.00 0.00 0.00
Totals 11,698,045.87 0.00 548,588,114.23 14,971,383.39 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
A-1A 206,792,000.00 203,687,323.38 0.00 5,144,155.97 0.00 0.00
A-1B 51,698,000.00 50,921,830.84 0.00 1,286,038.99 0.00 0.00
A-2A 79,753,000.00 77,663,951.08 0.00 5,267,850.91 0.00 0.00
A-2B 50,184,000.00 50,184,000.00 0.00 0.00 0.00 0.00
A-2C 12,963,000.00 12,963,000.00 0.00 0.00 0.00 0.00
A-2D 33,778,000.00 33,778,000.00 0.00 0.00 0.00 0.00
M-1 20,952,000.00 20,952,000.00 0.00 0.00 0.00 0.00
M-2 18,686,000.00 18,686,000.00 0.00 0.00 0.00 0.00
M-3 11,042,000.00 11,042,000.00 0.00 0.00 0.00 0.00
M-4 10,193,000.00 10,193,000.00 0.00 0.00 0.00 0.00
M-5 9,626,000.00 9,626,000.00 0.00 0.00 0.00 0.00
M-6 9,343,000.00 9,343,000.00 0.00 0.00 0.00 0.00
M-7 7,644,000.00 7,644,000.00 0.00 0.00 0.00 0.00
M-8 5,946,000.00 5,946,000.00 0.00 0.00 0.00 0.00
M-9 5,379,000.00 5,379,000.00 0.00 0.00 0.00 0.00
M-10 5,096,000.00 5,096,000.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
M-11 5,663,000.00 5,663,000.00 0.00 0.00 0.00 0.00
B-1 8,777,000.00 8,777,000.00 0.00 0.00 0.00 0.00
B-2 6,229,000.00 6,229,000.00 0.00 0.00 0.00 0.00
CE 6,512,839.08 6,511,954.80 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 566,256,939.08 560,286,160.10 0.00 11,698,045.87 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>
A-1A 5,144,155.97 198,543,167.41 0.96011048 5,144,155.97
A-1B 1,286,038.99 49,635,791.85 0.96011048 1,286,038.99
A-2A 5,267,850.91 72,396,100.17 0.90775394 5,267,850.91
A-2B 0.00 50,184,000.00 1.00000000 0.00
A-2C 0.00 12,963,000.00 1.00000000 0.00
A-2D 0.00 33,778,000.00 1.00000000 0.00
M-1 0.00 20,952,000.00 1.00000000 0.00
M-2 0.00 18,686,000.00 1.00000000 0.00
M-3 0.00 11,042,000.00 1.00000000 0.00
M-4 0.00 10,193,000.00 1.00000000 0.00
M-5 0.00 9,626,000.00 1.00000000 0.00
M-6 0.00 9,343,000.00 1.00000000 0.00
M-7 0.00 7,644,000.00 1.00000000 0.00
M-8 0.00 5,946,000.00 1.00000000 0.00
M-9 0.00 5,379,000.00 1.00000000 0.00
M-10 0.00 5,096,000.00 1.00000000 0.00
P 0.00 100.00 1.00000000 0.00
M-11 0.00 5,663,000.00 1.00000000 0.00
B-1 0.00 8,777,000.00 1.00000000 0.00
B-2 0.00 6,229,000.00 1.00000000 0.00
CE 0.00 6,511,954.80 0.99986423 0.00
R 0.00 0.00 0.00000000 0.00
Totals 11,698,045.87 548,588,114.23 0.96879716 11,698,045.87
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>
A-1A 206,792,000.00 984.98647617 0.00000000 24.87599119 0.00000000
A-1B 51,698,000.00 984.98647607 0.00000000 24.87599114 0.00000000
A-2A 79,753,000.00 973.80601457 0.00000000 66.05207215 0.00000000
A-2B 50,184,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2C 12,963,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2D 33,778,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 20,952,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 18,686,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 11,042,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 10,193,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 9,626,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 9,343,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-7 7,644,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-8 5,946,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-9 5,379,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-10 5,096,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-11 5,663,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 8,777,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-2 6,229,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 6,512,839.08 999.86422511 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 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>
A-1A 0.00000000 24.87599119 960.11048498 0.96011048 24.87599119
A-1B 0.00000000 24.87599114 960.11048493 0.96011048 24.87599114
A-2A 0.00000000 66.05207215 907.75394242 0.90775394 66.05207215
A-2B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2D 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 0.00000000 999.86422511 0.99986423 0.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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>
A-1A 206,792,000.00 3.54438% 203,687,323.38 561,512.99 0.00 0.00
A-1B 51,698,000.00 3.57438% 50,921,830.84 141,566.42 0.00 0.00
A-2A 79,753,000.00 3.40438% 77,663,951.08 205,642.58 0.00 0.00
A-2B 50,184,000.00 3.51438% 50,184,000.00 137,173.28 0.00 0.00
A-2C 12,963,000.00 3.56438% 12,963,000.00 35,937.27 0.00 0.00
A-2D 33,778,000.00 3.66438% 33,778,000.00 96,269.78 0.00 0.00
M-1 20,952,000.00 3.75438% 20,952,000.00 61,181.38 0.00 0.00
M-2 18,686,000.00 3.76438% 18,686,000.00 54,709.83 0.00 0.00
M-3 11,042,000.00 3.78438% 11,042,000.00 32,501.10 0.00 0.00
M-4 10,193,000.00 3.94438% 10,193,000.00 31,270.61 0.00 0.00
M-5 9,626,000.00 3.97438% 9,626,000.00 29,755.74 0.00 0.00
M-6 9,343,000.00 4.00438% 9,343,000.00 29,098.94 0.00 0.00
M-7 7,644,000.00 4.51438% 7,644,000.00 26,839.49 0.00 0.00
M-8 5,946,000.00 4.61438% 5,946,000.00 21,339.97 0.00 0.00
M-9 5,379,000.00 5.01438% 5,379,000.00 20,978.49 0.00 0.00
M-10 5,096,000.00 6.31438% 5,096,000.00 25,027.40 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
M-11 5,663,000.00 6.31438% 5,663,000.00 27,812.04 0.00 0.00
B-1 8,777,000.00 6.31438% 8,777,000.00 43,105.47 0.00 0.00
B-2 6,229,000.00 6.31438% 6,229,000.00 30,591.77 0.00 0.00
CE 6,512,839.08 0.00000% 6,511,954.80 0.00 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 566,256,939.08 1,612,314.55 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>
A-1A 0.00 0.00 561,512.99 0.00 198,543,167.41
A-1B 0.00 0.00 141,566.42 0.00 49,635,791.85
A-2A 0.00 0.00 205,642.58 0.00 72,396,100.17
A-2B 0.00 0.00 137,173.28 0.00 50,184,000.00
A-2C 0.00 0.00 35,937.27 0.00 12,963,000.00
A-2D 0.00 0.00 96,269.78 0.00 33,778,000.00
M-1 0.00 0.00 61,181.38 0.00 20,952,000.00
M-2 0.00 0.00 54,709.83 0.00 18,686,000.00
M-3 0.00 0.00 32,501.10 0.00 11,042,000.00
M-4 0.00 0.00 31,270.61 0.00 10,193,000.00
M-5 0.00 0.00 29,755.74 0.00 9,626,000.00
M-6 0.00 0.00 29,098.94 0.00 9,343,000.00
M-7 0.00 0.00 26,839.49 0.00 7,644,000.00
M-8 0.00 0.00 21,339.97 0.00 5,946,000.00
M-9 0.00 0.00 20,978.49 0.00 5,379,000.00
M-10 0.00 0.00 25,027.40 0.00 5,096,000.00
P 0.00 0.00 87,414.08 0.00 100.00
M-11 0.00 0.00 27,812.04 0.00 5,663,000.00
B-1 0.00 0.00 43,105.47 0.00 8,777,000.00
B-2 0.00 0.00 30,591.77 0.00 6,229,000.00
CE 0.00 0.00 1,573,608.89 0.00 6,511,954.80
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 3,273,337.52 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>
A-1A 206,792,000.00 3.54438% 984.98647617 2.71535161 0.00000000 0.00000000
A-1B 51,698,000.00 3.57438% 984.98647607 2.73833456 0.00000000 0.00000000
A-2A 79,753,000.00 3.40438% 973.80601457 2.57849335 0.00000000 0.00000000
A-2B 50,184,000.00 3.51438% 1000.00000000 2.73340666 0.00000000 0.00000000
A-2C 12,963,000.00 3.56438% 1000.00000000 2.77229576 0.00000000 0.00000000
A-2D 33,778,000.00 3.66438% 1000.00000000 2.85007342 0.00000000 0.00000000
M-1 20,952,000.00 3.75438% 1000.00000000 2.92007350 0.00000000 0.00000000
M-2 18,686,000.00 3.76438% 1000.00000000 2.92785133 0.00000000 0.00000000
M-3 11,042,000.00 3.78438% 1000.00000000 2.94340699 0.00000000 0.00000000
M-4 10,193,000.00 3.94438% 1000.00000000 3.06785147 0.00000000 0.00000000
M-5 9,626,000.00 3.97438% 1000.00000000 3.09118429 0.00000000 0.00000000
M-6 9,343,000.00 4.00438% 1000.00000000 3.11451782 0.00000000 0.00000000
M-7 7,644,000.00 4.51438% 1000.00000000 3.51118394 0.00000000 0.00000000
M-8 5,946,000.00 4.61438% 1000.00000000 3.58896233 0.00000000 0.00000000
M-9 5,379,000.00 5.01438% 1000.00000000 3.90007250 0.00000000 0.00000000
M-10 5,096,000.00 6.31438% 1000.00000000 4.91118524 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
M-11 5,663,000.00 6.31438% 1000.00000000 4.91118488 0.00000000 0.00000000
B-1 8,777,000.00 6.31438% 1000.00000000 4.91118492 0.00000000 0.00000000
B-2 6,229,000.00 6.31438% 1000.00000000 4.91118478 0.00000000 0.00000000
CE 6,512,839.08 0.00000% 999.86422511 0.00000000 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 0.00000000 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>
A-1A 0.00000000 0.00000000 2.71535161 0.00000000 960.11048498
A-1B 0.00000000 0.00000000 2.73833456 0.00000000 960.11048493
A-2A 0.00000000 0.00000000 2.57849335 0.00000000 907.75394242
A-2B 0.00000000 0.00000000 2.73340666 0.00000000 1000.00000000
A-2C 0.00000000 0.00000000 2.77229576 0.00000000 1000.00000000
A-2D 0.00000000 0.00000000 2.85007342 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 2.92007350 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.92785133 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 2.94340699 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.06785147 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 3.09118429 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 3.11451782 0.00000000 1000.00000000
M-7 0.00000000 0.00000000 3.51118394 0.00000000 1000.00000000
M-8 0.00000000 0.00000000 3.58896233 0.00000000 1000.00000000
M-9 0.00000000 0.00000000 3.90007250 0.00000000 1000.00000000
M-10 0.00000000 0.00000000 4.91118524 0.00000000 1000.00000000
P 0.00000000 0.00000000 874140.80000000 0.00000000 1000.00000000
M-11 0.00000000 0.00000000 4.91118488 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 4.91118492 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 4.91118478 0.00000000 1000.00000000
CE 0.00000000 0.00000000 241.61642422 0.00000000 999.86422511
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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 15,046,693.30
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 81,233.95
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 87,414.08
Total Deposits 15,215,341.33
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 243,957.94
Payment of Interest and Principal 14,971,383.39
Total Withdrawals (Pool Distribution Amount) 15,215,341.33
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 233,452.57
Credit Risk Manager Fee - The Murrayhill Company 7,003.58
Master Servicing Fee: Wells Fargo Bank 3,501.79
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 243,957.94
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 1,000.00 0.00 0.00 1,000.00
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 73 0 0 0 73
12,554,502.73 0.00 0.00 0.00 12,554,502.73
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 73 0 0 0 73
12,554,502.73 0.00 0.00 0.00 12,554,502.73
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 2.179755% 0.000000% 0.000000% 0.000000% 2.179755%
2.288177% 0.000000% 0.000000% 0.000000% 2.288177%
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 2.179755% 0.000000% 0.000000% 0.000000% 2.179755%
2.288177% 0.000000% 0.000000% 0.000000% 2.288177%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
GROUP I 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 11 0 0 0 11
677,752.30 0.00 0.00 0.00 677,752.30
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 11 0 0 0 11
677,752.30 0.00 0.00 0.00 677,752.30
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.513067% 0.000000% 0.000000% 0.000000% 1.513067%
1.529695% 0.000000% 0.000000% 0.000000% 1.529695%
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 1.513067% 0.000000% 0.000000% 0.000000% 1.513067%
1.529695% 0.000000% 0.000000% 0.000000% 1.529695%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
GROUP II 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 39 0 0 0 39
7,469,459.32 0.00 0.00 0.00 7,469,459.32
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 39 0 0 0 39
7,469,459.32 0.00 0.00 0.00 7,469,459.32
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.544031% 0.000000% 0.000000% 0.000000% 2.544031%
2.650580% 0.000000% 0.000000% 0.000000% 2.650580%
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 2.544031% 0.000000% 0.000000% 0.000000% 2.544031%
2.650580% 0.000000% 0.000000% 0.000000% 2.650580%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
GROUP III 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 11 0 0 0 11
670,991.85 0.00 0.00 0.00 670,991.85
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 11 0 0 0 11
670,991.85 0.00 0.00 0.00 670,991.85
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.444444% 0.000000% 0.000000% 0.000000% 2.444444%
2.148141% 0.000000% 0.000000% 0.000000% 2.148141%
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 2.444444% 0.000000% 0.000000% 0.000000% 2.444444%
2.148141% 0.000000% 0.000000% 0.000000% 2.148141%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
GROUP IV 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 12 0 0 0 12
3,736,299.26 0.00 0.00 0.00 3,736,299.26
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 12 0 0 0 12
3,736,299.26 0.00 0.00 0.00 3,736,299.26
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.877934% 0.000000% 0.000000% 0.000000% 1.877934%
1.952893% 0.000000% 0.000000% 0.000000% 1.952893%
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 1.877934% 0.000000% 0.000000% 0.000000% 1.877934%
1.952893% 0.000000% 0.000000% 0.000000% 1.952893%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 81,233.95
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.
GROUP I 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.
GROUP II 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.
GROUP III 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.
GROUP IV 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.
GROUP I 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.
GROUP II 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.
GROUP III 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.
GROUP IV 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Aug-04 0.000%
Original Principal Balance 0.00 Sep-04 0.000%
Current Principal Balance 0.00 Oct-04 0.000%
Nov-04 0.000%
Current Foreclosure Total Dec-04 0.000%
Loans in Foreclosure 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 7.345991%
Weighted Average Net Coupon 6.845991%
Weighted Average Pass-Through Rate 6.823491%
Weighted Average Maturity(Stepdown Calculation) 341
Beginning Scheduled Collateral Loan Count 3,408
Number Of Loans Paid In Full 59
Ending Scheduled Collateral Loan Count 3,349
Beginning Scheduled Collateral Balance 560,286,160.10
Ending Scheduled Collateral Balance 548,588,114.23
Ending Actual Collateral Balance at 30-Jun-2005 548,668,258.39
Monthly P&I Constant 3,683,968.50
Special Servicing Fee 0.00
Prepayment Penalties 87,414.08
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 254,087.46
Unscheduled Principal 11,443,958.41
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 6,511,954.80
Overcollateralized Amount 6,511,954.80
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Coupon Rate 7.345991%
Weighted Average Net Rate 6.845991%
Weighted Average Pass Through Rate 6.823491%
Weighted Average Maturity 341
Record Date 06/30/2005
Principal and Interest Constant 3,683,968.50
Beginning Loan Count 3,408
Loans Paid in Full 59
Ending Loan Count 3,349
Beginning Scheduled Balance 560,286,160.10
Ending Scheduled Balance 548,588,114.23
Ending Actual Balance at 30-Jun-2005 548,668,258.39
Scheduled Principal 254,087.46
Unscheduled Principal 11,443,958.41
Scheduled Interest 3,429,881.04
Servicing Fee 233,452.57
Master Servicing Fee 3,501.79
Trustee Fee 0.00
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 7,003.58
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 3,185,923.10
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Special Servicing Fee 0.00
Prepayment Penalties 87,414.08
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized Reduction Amount 0.00
Specified O/C Amount 6,511,954.80
Overcollateralized Amount 6,511,954.80
Overcollateralized Deficiency Amount 0.00
Base Overcollateralization Amount 0.00
Miscellaneous Reporting
#OC_INC_AMT 0.00
#OC_RED_AMT 0.00
#OC_TARGPCT 0.01
#OCAMOUNT 6,511,954.80
Group Level Collateral Statement
Group GROUP I GROUP II GROUP III
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 8.809175 7.166493 9.712580
Weighted Average Net Rate 8.309175 6.666493 9.212580
Weighted Average Maturity 260 356 200
Beginning Loan Count 736 1,562 455
Loans Paid In Full 9 29 5
Ending Loan Count 727 1,533 450
Beginning Scheduled Balance 44,874,261.57 287,601,017.10 31,614,456.03
Ending Scheduled Balance 44,298,103.58 281,746,980.13 31,233,159.09
Record Date 06/30/2005 06/30/2005 06/30/2005
Principal And Interest Constant 359,932.05 1,894,819.88 270,374.34
Scheduled Principal 30,511.02 177,244.31 14,492.74
Unscheduled Principal 545,646.97 5,676,792.66 366,804.20
Scheduled Interest 329,421.03 1,717,575.57 255,881.60
Servicing Fees 18,697.61 119,833.76 13,172.69
Master Servicing Fees 280.46 1,797.51 197.59
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 560.93 3,595.01 395.18
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 309,882.03 1,592,349.29 242,116.14
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 8.286675 6.643993 9.190080
Group Level Collateral Statement
Group GROUP IV Total
Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 6.893109 7.345991
Weighted Average Net Rate 6.393109 6.845991
Weighted Average Maturity 358 341
Beginning Loan Count 655 3,408
Loans Paid In Full 16 59
Ending Loan Count 639 3,349
Beginning Scheduled Balance 196,196,425.40 560,286,160.10
Ending scheduled Balance 191,309,871.43 548,588,114.23
Record Date 06/30/2005 06/30/2005
Principal And Interest Constant 1,158,842.23 3,683,968.50
Scheduled Principal 31,839.39 254,087.46
Unscheduled Principal 4,854,714.58 11,443,958.41
Scheduled Interest 1,127,002.84 3,429,881.04
Servicing Fees 81,748.51 233,452.57
Master Servicing Fees 1,226.23 3,501.79
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 2,452.46 7,003.58
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 1,041,575.64 3,185,923.10
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 6.370609 6.823491
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>
GROUP I 9 537,200.00 536,357.85 0 0.00 0.00
GROUP II 29 5,657,815.00 5,650,235.06 0 0.00 0.00
GROUP III 5 364,510.00 364,186.40 0 0.00 0.00
GROUP IV 16 4,829,000.00 4,826,495.48 0 0.00 0.00
Total 59 11,388,525.00 11,377,274.79 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>
GROUP I 0 0.00 0.00 0 0.00 0.00 9,902.96
GROUP II 0 0.00 0.00 0 0.00 0.00 29,791.53
GROUP III 0 0.00 0.00 0 0.00 0.00 2,752.75
GROUP IV 0 0.00 0.00 0 0.00 0.00 28,815.75
Total 0 0.00 0.00 0 0.00 0.00 71,262.99
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>
GROUP I 0110441200 FL 100.00 01-Apr-2005 33,400.00 33,346.41
GROUP I 0110443938 CA 100.00 01-May-2005 56,800.00 56,723.80
GROUP I 0110443952 IL 100.00 01-May-2005 32,600.00 32,564.80
GROUP I 0110443953 UT 100.00 01-May-2005 28,000.00 27,971.29
GROUP I 0110444204 TX 80.00 01-May-2005 92,000.00 91,793.45
GROUP I 0110450542 CA 100.00 01-May-2005 58,400.00 58,321.65
GROUP I 0110450937 IL 100.00 01-May-2005 60,000.00 59,909.69
GROUP I 0110451553 CA 95.00 01-May-2005 54,000.00 53,923.79
GROUP I 0110465495 CA 39.35 01-Jun-2005 122,000.00 121,189.13
GROUP II 0110440473 IL 75.00 01-Apr-2005 197,250.00 196,792.93
GROUP II 0110440875 CA 80.00 01-Apr-2005 212,000.00 211,297.42
GROUP II 0110441007 CA 75.48 01-Apr-2005 234,000.00 233,220.86
GROUP II 0110441143 CA 75.00 01-Apr-2005 228,750.00 228,254.91
GROUP II 0110441165 FL 75.00 01-Apr-2005 103,500.00 103,280.57
GROUP II 0110441196 CA 85.00 01-Apr-2005 209,950.00 209,314.59
GROUP II 0110441202 FL 80.00 01-Apr-2005 133,600.00 133,140.46
GROUP II 0110444203 IL 80.00 01-May-2005 130,400.00 130,100.18
GROUP II 0110444205 UT 80.00 01-May-2005 112,000.00 112,000.00
GROUP II 0110444275 IL 65.00 01-May-2005 97,500.00 97,274.49
GROUP II 0110444439 UT 56.52 01-May-2005 130,000.00 129,701.68
GROUP II 0110444537 AZ 85.00 01-Apr-2005 119,000.00 118,676.07
GROUP II 0110444593 IL 95.00 01-May-2005 142,500.00 142,255.80
GROUP II 0110444604 CA 80.00 01-Apr-2005 288,000.00 287,839.24
GROUP II 0110450544 CA 80.00 01-May-2005 233,600.00 233,021.06
GROUP II 0110450582 IL 91.08 01-May-2005 337,000.00 337,000.00
GROUP II 0110450801 IL 80.00 01-May-2005 304,000.00 303,339.01
GROUP II 0110450894 TX 80.00 01-May-2005 54,400.00 54,325.94
GROUP II 0110450942 IL 80.00 01-May-2005 240,000.00 239,448.20
GROUP II 0110451150 MO 85.00 01-May-2005 99,025.00 98,842.62
GROUP II 0110451218 IL 85.00 01-May-2005 195,500.00 195,027.70
GROUP II 0110451332 CA 66.07 01-May-2005 220,000.00 219,494.19
GROUP II 0110451338 IL 84.53 01-May-2005 224,000.00 223,458.86
GROUP II 0110451366 CA 74.88 01-May-2005 153,500.00 153,119.57
GROUP II 0110451429 FL 85.00 01-May-2005 127,500.00 127,234.74
GROUP II 0110451431 CA 77.70 01-May-2005 216,000.00 215,572.80
GROUP II 0110451554 CA 80.00 01-May-2005 288,000.00 288,000.00
GROUP II 0110451747 FL 80.00 01-May-2005 290,840.00 290,840.00
GROUP II 0110451755 IL 80.00 01-May-2005 336,000.00 335,127.24
GROUP III 0110444037 IL 95.00 01-Apr-2005 55,800.00 55,704.99
GROUP III 0110444040 IL 100.00 01-Apr-2005 90,000.00 89,862.61
GROUP III 0110450423 CA 100.00 01-May-2005 62,000.00 61,926.22
GROUP III 0110451743 FL 100.00 01-May-2005 72,710.00 72,648.33
GROUP III 0110451754 IL 100.00 01-May-2005 84,000.00 83,909.30
GROUP IV 0110440451 CA 75.00 01-Apr-2005 262,500.00 262,500.00
GROUP IV 0110441064 IL 85.00 01-Apr-2005 174,250.00 174,250.00
GROUP IV 0110441117 CA 85.00 01-Apr-2005 391,000.00 389,937.89
GROUP IV 0110444157 CA 87.84 01-May-2005 650,000.00 649,980.00
GROUP IV 0110444176 CA 80.00 01-May-2005 227,200.00 227,200.00
GROUP IV 0110444237 CA 80.00 01-May-2005 308,000.00 306,960.29
GROUP IV 0110444395 OR 95.00 01-May-2005 152,950.00 152,950.00
GROUP IV 0110444426 IL 80.00 01-Apr-2005 360,000.00 360,000.00
GROUP IV 0110444571 CA 76.16 01-Apr-2005 196,500.00 196,500.00
GROUP IV 0110450298 AZ 80.00 01-May-2005 208,000.00 208,000.00
GROUP IV 0110450424 CA 80.00 01-May-2005 248,000.00 248,000.00
GROUP IV 0110451229 CA 70.00 01-May-2005 385,000.00 385,000.00
GROUP IV 0110451260 WA 80.00 01-May-2005 432,800.00 431,820.65
GROUP IV 0110451297 IL 78.46 01-May-2005 204,000.00 204,000.00
GROUP IV 0110451446 WI 80.00 01-May-2005 200,000.00 200,000.00
GROUP IV 0110451783 KS 80.00 01-May-2005 428,800.00 428,800.00
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>
GROUP I 0110441200 Loan Paid in Full 0 10.520% 180 3
GROUP I 0110443938 Loan Paid in Full 0 9.990% 180 2
GROUP I 0110443952 Loan Paid in Full 0 11.000% 180 2
GROUP I 0110443953 Loan Paid in Full 0 11.240% 180 2
GROUP I 0110444204 Loan Paid in Full 0 8.420% 360 2
GROUP I 0110450542 Loan Paid in Full 0 9.990% 180 2
GROUP I 0110450937 Loan Paid in Full 0 9.800% 180 2
GROUP I 0110451553 Loan Paid in Full (1) 9.750% 180 2
GROUP I 0110465495 Loan Paid in Full (1) 6.430% 180 1
GROUP II 0110440473 Loan Paid in Full 0 8.770% 360 3
GROUP II 0110440875 Loan Paid in Full 0 6.990% 360 3
GROUP II 0110441007 Loan Paid in Full 0 6.990% 360 3
GROUP II 0110441143 Loan Paid in Full 0 9.100% 360 3
GROUP II 0110441165 Loan Paid in Full 0 9.200% 360 3
GROUP II 0110441196 Loan Paid in Full 0 7.450% 360 3
GROUP II 0110441202 Loan Paid in Full 0 6.800% 360 3
GROUP II 0110444203 Loan Paid in Full 0 7.370% 360 2
GROUP II 0110444205 Loan Paid in Full 0 8.020% 360 2
GROUP II 0110444275 Loan Paid in Full 0 7.340% 360 2
GROUP II 0110444439 Loan Paid in Full 0 7.380% 360 2
GROUP II 0110444537 Loan Paid in Full 0 7.990% 360 3
GROUP II 0110444593 Loan Paid in Full 0 8.820% 360 2
GROUP II 0110444604 Loan Paid in Full (1) 5.990% 360 3
GROUP II 0110450544 Loan Paid in Full 0 6.990% 360 2
GROUP II 0110450582 Loan Paid in Full 0 8.750% 360 2
GROUP II 0110450801 Loan Paid in Full 0 7.650% 360 2
GROUP II 0110450894 Loan Paid in Full 0 9.920% 360 2
GROUP II 0110450942 Loan Paid in Full 0 7.370% 360 2
GROUP II 0110451150 Loan Paid in Full 0 8.470% 360 2
GROUP II 0110451218 Loan Paid in Full 0 7.120% 360 2
GROUP II 0110451332 Loan Paid in Full 0 7.370% 360 2
GROUP II 0110451338 Loan Paid in Full 0 7.120% 360 2
GROUP II 0110451366 Loan Paid in Full 0 6.990% 360 2
GROUP II 0110451429 Loan Paid in Full 0 7.870% 360 2
GROUP II 0110451431 Loan Paid in Full 0 8.120% 360 2
GROUP II 0110451554 Loan Paid in Full (1) 6.990% 360 2
GROUP II 0110451747 Loan Paid in Full 0 7.470% 360 2
GROUP II 0110451755 Loan Paid in Full 0 6.750% 360 2
GROUP III 0110444037 Loan Paid in Full 0 10.240% 180 3
GROUP III 0110444040 Loan Paid in Full 0 10.750% 180 3
GROUP III 0110450423 Loan Paid in Full 0 10.550% 180 2
GROUP III 0110451743 Loan Paid in Full 0 12.100% 180 2
GROUP III 0110451754 Loan Paid in Full 0 11.000% 180 2
GROUP IV 0110440451 Loan Paid in Full 0 6.000% 360 3
GROUP IV 0110441064 Loan Paid in Full 0 7.070% 360 3
GROUP IV 0110441117 Loan Paid in Full 0 7.990% 360 3
GROUP IV 0110444157 Loan Paid in Full 0 7.500% 360 2
GROUP IV 0110444176 Loan Paid in Full 0 7.250% 360 2
GROUP IV 0110444237 Loan Paid in Full (1) 7.640% 360 2
GROUP IV 0110444395 Loan Paid in Full 0 8.420% 360 2
GROUP IV 0110444426 Loan Paid in Full 0 7.820% 360 3
GROUP IV 0110444571 Loan Paid in Full 0 5.990% 360 3
GROUP IV 0110450298 Loan Paid in Full 0 7.850% 360 2
GROUP IV 0110450424 Loan Paid in Full 0 7.990% 360 2
GROUP IV 0110451229 Loan Paid in Full 0 7.290% 360 2
GROUP IV 0110451260 Loan Paid in Full 0 7.450% 360 2
GROUP IV 0110451297 Loan Paid in Full (1) 7.570% 360 2
GROUP IV 0110451446 Loan Paid in Full 0 7.370% 360 2
GROUP IV 0110451783 Loan Paid in Full 0 6.880% 360 2
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.043% Current Month 21.945% Current Month 4,684.616%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 11.467% N/A Jun-2005 4,275.975% N/A
Jul-2005 21.945% N/A Jul-2005 4,684.616% 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.
GROUP I
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.217% Current Month 13.663% Current Month 3,006.420%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 13.317% N/A Jun-2005 5,255.433% N/A
Jul-2005 13.663% N/A Jul-2005 3,006.420% 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.
GROUP II
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.975% Current Month 21.288% Current Month 4,566.790%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 12.200% N/A Jun-2005 4,585.593% N/A
Jul-2005 21.288% N/A Jul-2005 4,566.790% 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.
GROUP III
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.161% Current Month 13.074% Current Month 2,826.166%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 15.288% N/A Jun-2005 5,817.789% N/A
Jul-2005 13.074% N/A Jul-2005 2,826.166% 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.
GROUP IV
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.475% Current Month 25.971% Current Month 5,456.010%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 9.301% N/A Jun-2005 3,375.633% N/A
Jul-2005 25.971% N/A Jul-2005 5,456.010% 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>
GROUP I 0 0.00 0.00 0.000%
GROUP II 0 0.00 0.00 0.000%
GROUP III 0 0.00 0.00 0.000%
GROUP IV 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 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 N/A N/A May-2005 N/A 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.
GROUP I
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 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 N/A N/A May-2005 N/A 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.
GROUP II
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 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 N/A N/A May-2005 N/A 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.
GROUP III
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 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 N/A N/A May-2005 N/A 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.
GROUP IV
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Aug-2004 N/A N/A Aug-2004 N/A N/A
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 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 N/A N/A May-2005 N/A 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>