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): August 25, 2005
BANC OF AMERICA ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2005-4 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-21
Pooling and Servicing Agreement) (Commission 54-2173102
(State or other File Number) 54-2173103
jurisdiction 54-2173104
of Incorporation) 54-6658784
IRS EIN
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 August 25, 2005 a distribution was made to holders of BANC OF AMERICA
ALTERNATIVE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2005-4
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 2005-4 Trust, relating to the
August 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 ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2005-4 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 8/25/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2005-4 Trust,
relating to the August 25, 2005 distribution.
EX-99.1
Banc of America Alternative Loan Trust
Mortgage Pass-Through Certificates
Record Date: 7/29/2005
Distribution Date: 8/25/2005
Banc of America Alternative Loan Trust
Mortgage Pass-Through Certificates
Series 2005-4
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>
CB-1 05948KZA0 SEN 3.86000% 48,675,669.37 156,573.40
CB-2 05948KZB8 SEN 3.96000% 85,949,091.11 283,632.00
CB-3 05948KZC6 SEN 1.54000% 0.00 110,301.33
CB-4 05948KZD4 SEN 1.64000% 0.00 66,523.41
CB-5 05948KZE2 SEN 5.50000% 9,000,000.00 41,250.00
CB-6 05948KZF9 SEN 3.86000% 85,435,476.09 274,817.45
CB-7 05948KZG7 SEN 1.64000% 0.00 116,761.82
CB-8 05948KZH5 SEN 5.50000% 20,000,000.00 91,666.67
CB-9 05948KZJ1 SEN 5.50000% 833,000.00 3,817.92
CB-10 05948KZK8 SEN 5.50000% 12,659,484.39 58,022.64
CB-11 05948KZL6 SEN 5.50000% 5,114,515.61 23,441.53
CB-12 05948KZM4 SEN 5.50000% 4,191,978.04 19,213.23
CB-13 05948KZN2 SEN 5.50000% 12,410,000.00 56,879.17
CB-R 05948KZP7 SEN 5.50000% 0.00 0.39
CB-IO 05948KZQ5 SEN 5.50000% 0.00 73,726.02
2-A-1 05948KZR3 SEN 5.00000% 19,668,693.88 81,952.89
3-A-1 05948KZS1 SEN 5.50000% 29,305,841.85 134,318.44
A-PO 05948KZU6 PO 0.00000% 1,233,500.16 0.00
15-IO 05948KZT9 SEN 5.50000% 0.00 4,423.53
B-1 05948KZV4 SUB 5.47057% 6,388,287.12 29,122.98
B-2 05948KZW2 SUB 5.47057% 2,661,869.29 12,134.95
B-3 05948KZX0 SUB 5.47057% 1,951,838.31 8,898.06
B-4 05948KZY8 SUB 5.47057% 1,241,807.33 5,661.16
B-5 05948KZZ5 SUB 5.47057% 710,030.98 3,236.90
B-6 05948KA25 SUB 5.47057% 1,242,226.49 5,663.07
Totals 348,673,310.02 1,662,038.96
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
CB-1 689,324.52 0.00 47,986,344.85 845,897.92 0.00
CB-2 1,515,671.51 0.00 84,433,419.59 1,799,303.51 0.00
CB-3 0.00 0.00 0.00 110,301.33 0.00
CB-4 0.00 0.00 0.00 66,523.41 0.00
CB-5 0.00 0.00 9,000,000.00 41,250.00 0.00
CB-6 1,209,933.00 0.00 84,225,543.09 1,484,750.45 0.00
CB-7 0.00 0.00 0.00 116,761.82 0.00
CB-8 0.00 0.00 20,000,000.00 91,666.67 0.00
CB-9 0.00 0.00 833,000.00 3,817.92 0.00
CB-10 (58,022.64) 0.00 12,717,507.03 0.00 0.00
CB-11 58,022.64 0.00 5,056,492.97 81,464.17 0.00
CB-12 73,923.55 0.00 4,118,054.50 93,136.78 0.00
CB-13 0.00 0.00 12,410,000.00 56,879.17 0.00
CB-R 0.00 0.00 0.00 0.39 0.00
CB-IO 0.00 0.00 0.00 73,726.02 0.00
2-A-1 830,279.60 0.00 18,838,414.28 912,232.49 0.00
3-A-1 277,228.23 0.00 29,028,613.62 411,546.67 0.00
A-PO 2,959.88 0.00 1,230,540.27 2,959.88 0.00
15-IO 0.00 0.00 0.00 4,423.53 0.00
B-1 8,989.00 0.00 6,379,298.11 38,111.98 0.00
B-2 3,745.53 0.00 2,658,123.75 15,880.48 0.00
B-3 2,746.45 0.00 1,949,091.86 11,644.51 0.00
B-4 1,747.36 0.00 1,240,059.98 7,408.52 0.00
B-5 999.09 0.00 709,031.89 4,235.99 0.00
B-6 1,747.95 0.00 1,240,478.55 7,411.02 0.00
Totals 4,619,295.67 0.00 344,054,014.34 6,281,334.63 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>
CB-1 50,000,000.00 48,675,669.37 57,334.36 631,990.16 0.00 0.00
CB-2 88,861,000.00 85,949,091.11 126,065.52 1,389,605.99 0.00 0.00
CB-3 0.00 0.00 0.00 0.00 0.00 0.00
CB-4 0.00 0.00 0.00 0.00 0.00 0.00
CB-5 9,000,000.00 9,000,000.00 0.00 0.00 0.00 0.00
CB-6 87,760,000.00 85,435,476.09 100,635.81 1,109,297.19 0.00 0.00
CB-7 0.00 0.00 0.00 0.00 0.00 0.00
CB-8 20,000,000.00 20,000,000.00 0.00 0.00 0.00 0.00
CB-9 833,000.00 833,000.00 0.00 0.00 0.00 0.00
CB-10 12,487,000.00 12,659,484.39 0.00 0.00 (58,022.64) 0.00
CB-11 5,287,000.00 5,114,515.61 4,826.02 53,196.62 0.00 0.00
CB-12 4,334,000.00 4,191,978.04 6,148.57 67,774.98 0.00 0.00
CB-13 12,410,000.00 12,410,000.00 0.00 0.00 0.00 0.00
CB-R 100.00 0.00 0.00 0.00 0.00 0.00
CB-IO 0.00 0.00 0.00 0.00 0.00 0.00
2-A-1 20,082,000.00 19,668,693.88 73,806.93 756,472.67 0.00 0.00
3-A-1 29,801,000.00 29,305,841.85 105,680.20 171,548.03 0.00 0.00
A-PO 1,249,480.28 1,233,500.16 2,474.21 485.67 0.00 0.00
15-IO 0.00 0.00 0.00 0.00 0.00 0.00
B-1 6,415,000.00 6,388,287.12 8,989.00 0.00 0.00 0.00
B-2 2,673,000.00 2,661,869.29 3,745.53 0.00 0.00 0.00
B-3 1,960,000.00 1,951,838.31 2,746.45 0.00 0.00 0.00
B-4 1,247,000.00 1,241,807.33 1,747.36 0.00 0.00 0.00
B-5 713,000.00 710,030.98 999.09 0.00 0.00 0.00
B-6 1,247,420.00 1,242,226.49 1,747.95 0.00 0.00 0.00
Totals 356,360,000.28 348,673,310.02 496,947.00 4,180,371.31 (58,022.64) 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>
CB-1 689,324.52 47,986,344.85 0.95972690 689,324.52
CB-2 1,515,671.51 84,433,419.59 0.95017409 1,515,671.51
CB-3 0.00 0.00 0.00000000 0.00
CB-4 0.00 0.00 0.00000000 0.00
CB-5 0.00 9,000,000.00 1.00000000 0.00
CB-6 1,209,933.00 84,225,543.09 0.95972588 1,209,933.00
CB-7 0.00 0.00 0.00000000 0.00
CB-8 0.00 20,000,000.00 1.00000000 0.00
CB-9 0.00 833,000.00 1.00000000 0.00
CB-10 (58,022.64) 12,717,507.03 1.01845976 (58,022.64)
CB-11 58,022.64 5,056,492.97 0.95640117 58,022.64
CB-12 73,923.55 4,118,054.50 0.95017409 73,923.55
CB-13 0.00 12,410,000.00 1.00000000 0.00
CB-R 0.00 0.00 0.00000000 0.00
CB-IO 0.00 0.00 0.00000000 0.00
2-A-1 830,279.60 18,838,414.28 0.93807461 830,279.60
3-A-1 277,228.23 29,028,613.62 0.97408186 277,228.23
A-PO 2,959.88 1,230,540.27 0.98484169 2,959.88
15-IO 0.00 0.00 0.00000000 0.00
B-1 8,989.00 6,379,298.11 0.99443462 8,989.00
B-2 3,745.53 2,658,123.75 0.99443462 3,745.53
B-3 2,746.45 1,949,091.86 0.99443462 2,746.45
B-4 1,747.36 1,240,059.98 0.99443463 1,747.36
B-5 999.09 709,031.89 0.99443463 999.09
B-6 1,747.95 1,240,478.55 0.99443535 1,747.95
Totals 4,619,295.67 344,054,014.34 0.96546754 4,619,295.67
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>
CB-1 50,000,000.00 973.51338740 1.14668720 12.63980320 0.00000000
CB-2 88,861,000.00 967.23074363 1.41868221 15.63797380 0.00000000
CB-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
CB-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000
CB-5 9,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CB-6 87,760,000.00 973.51271753 1.14671616 12.64012295 0.00000000
CB-7 0.00 0.00000000 0.00000000 0.00000000 0.00000000
CB-8 20,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CB-9 833,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CB-10 12,487,000.00 1013.81311684 0.00000000 0.00000000 (4.64664371)
CB-11 5,287,000.00 967.37575374 0.91280878 10.06177795 0.00000000
CB-12 4,334,000.00 967.23074296 1.41868251 15.63797416 0.00000000
CB-13 12,410,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CB-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
CB-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 20,082,000.00 979.41907579 3.67527786 37.66918982 0.00000000
3-A-1 29,801,000.00 983.38451226 3.54619644 5.75645213 0.00000000
A-PO 1,249,480.28 987.21058647 1.98019132 0.38869761 0.00000000
15-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 6,415,000.00 995.83587217 1.40124708 0.00000000 0.00000000
B-2 2,673,000.00 995.83587355 1.40124579 0.00000000 0.00000000
B-3 1,960,000.00 995.83587245 1.40125000 0.00000000 0.00000000
B-4 1,247,000.00 995.83587009 1.40125100 0.00000000 0.00000000
B-5 713,000.00 995.83587658 1.40124825 0.00000000 0.00000000
B-6 1,247,420.00 995.83659874 1.40125218 0.00000000 0.00000000
<FN>
(2) All classes are per 1,000 dollar 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>
CB-1 0.00000000 13.78649040 959.72689700 0.95972690 13.78649040
CB-2 0.00000000 17.05665601 950.17408751 0.95017409 17.05665601
CB-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
CB-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
CB-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CB-6 0.00000000 13.78683911 959.72587842 0.95972588 13.78683911
CB-7 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
CB-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CB-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CB-10 0.00000000 (4.64664371) 1,018.45976055 1.01845976 (4.64664371)
CB-11 0.00000000 10.97458672 956.40116701 0.95640117 10.97458672
CB-12 0.00000000 17.05665667 950.17408860 0.95017409 17.05665667
CB-13 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CB-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
CB-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 0.00000000 41.34446768 938.07460811 0.93807461 41.34446768
3-A-1 0.00000000 9.30264857 974.08186370 0.97408186 9.30264857
A-PO 0.00000000 2.36888893 984.84168954 0.98484169 2.36888893
15-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1.40124708 994.43462354 0.99443462 1.40124708
B-2 0.00000000 1.40124579 994.43462402 0.99443462 1.40124579
B-3 0.00000000 1.40125000 994.43462245 0.99443462 1.40125000
B-4 0.00000000 1.40125100 994.43462711 0.99443463 1.40125100
B-5 0.00000000 1.40124825 994.43462833 0.99443463 1.40124825
B-6 0.00000000 1.40125218 994.43535457 0.99443535 1.40125218
<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>
CB-1 50,000,000.00 3.86000% 48,675,669.37 156,573.40 0.00 0.00
CB-2 88,861,000.00 3.96000% 85,949,091.11 283,632.00 0.00 0.00
CB-3 0.00 1.54000% 85,949,091.11 110,301.33 0.00 0.00
CB-4 0.00 1.64000% 48,675,669.37 66,523.41 0.00 0.00
CB-5 9,000,000.00 5.50000% 9,000,000.00 41,250.00 0.00 0.00
CB-6 87,760,000.00 3.86000% 85,435,476.09 274,817.45 0.00 0.00
CB-7 0.00 1.64000% 85,435,476.09 116,761.82 0.00 0.00
CB-8 20,000,000.00 5.50000% 20,000,000.00 91,666.67 0.00 0.00
CB-9 833,000.00 5.50000% 833,000.00 3,817.92 0.00 0.00
CB-10 12,487,000.00 5.50000% 12,659,484.39 58,022.64 0.00 0.00
CB-11 5,287,000.00 5.50000% 5,114,515.61 23,441.53 0.00 0.00
CB-12 4,334,000.00 5.50000% 4,191,978.04 19,213.23 0.00 0.00
CB-13 12,410,000.00 5.50000% 12,410,000.00 56,879.17 0.00 0.00
CB-R 100.00 5.50000% 0.00 0.00 0.00 0.00
CB-IO 0.00 5.50000% 16,085,677.08 73,726.02 0.00 0.00
2-A-1 20,082,000.00 5.00000% 19,668,693.88 81,952.89 0.00 0.00
3-A-1 29,801,000.00 5.50000% 29,305,841.85 134,318.44 0.00 0.00
A-PO 1,249,480.28 0.00000% 1,233,500.16 0.00 0.00 0.00
15-IO 0.00 5.50000% 965,134.05 4,423.53 0.00 0.00
B-1 6,415,000.00 5.47057% 6,388,287.12 29,122.98 0.00 0.00
B-2 2,673,000.00 5.47057% 2,661,869.29 12,134.95 0.00 0.00
B-3 1,960,000.00 5.47057% 1,951,838.31 8,898.06 0.00 0.00
B-4 1,247,000.00 5.47057% 1,241,807.33 5,661.16 0.00 0.00
B-5 713,000.00 5.47057% 710,030.98 3,236.90 0.00 0.00
B-6 1,247,420.00 5.47057% 1,242,226.49 5,663.07 0.00 0.00
Totals 356,360,000.28 1,662,038.57 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>
CB-1 0.00 0.00 156,573.40 0.00 47,986,344.85
CB-2 0.00 0.00 283,632.00 0.00 84,433,419.59
CB-3 0.00 0.00 110,301.33 0.00 84,433,419.59
CB-4 0.00 0.00 66,523.41 0.00 47,986,344.85
CB-5 0.00 0.00 41,250.00 0.00 9,000,000.00
CB-6 0.00 0.00 274,817.45 0.00 84,225,543.09
CB-7 0.00 0.00 116,761.82 0.00 84,225,543.09
CB-8 0.00 0.00 91,666.67 0.00 20,000,000.00
CB-9 0.00 0.00 3,817.92 0.00 833,000.00
CB-10 0.00 0.00 58,022.64 0.00 12,717,507.03
CB-11 0.00 0.00 23,441.53 0.00 5,056,492.97
CB-12 0.00 0.00 19,213.23 0.00 4,118,054.50
CB-13 0.00 0.00 56,879.17 0.00 12,410,000.00
CB-R 0.00 0.00 0.39 0.00 0.00
CB-IO 0.00 0.00 73,726.02 0.00 15,755,664.65
2-A-1 0.00 0.00 81,952.89 0.00 18,838,414.28
3-A-1 0.00 0.00 134,318.44 0.00 29,028,613.62
A-PO 0.00 0.00 0.00 0.00 1,230,540.27
15-IO 0.00 0.00 4,423.53 0.00 934,849.60
B-1 0.00 0.00 29,122.98 0.00 6,379,298.11
B-2 0.00 0.00 12,134.95 0.00 2,658,123.75
B-3 0.00 0.00 8,898.06 0.00 1,949,091.86
B-4 0.00 0.00 5,661.16 0.00 1,240,059.98
B-5 0.00 0.00 3,236.90 0.00 709,031.89
B-6 0.00 0.00 5,663.07 0.00 1,240,478.55
Totals 0.00 0.00 1,662,038.96 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>
CB-1 50,000,000.00 3.86000% 973.51338740 3.13146800 0.00000000 0.00000000
CB-2 88,861,000.00 3.96000% 967.23074363 3.19186145 0.00000000 0.00000000
CB-3 0.00 1.54000% 967.23074363 1.24127941 0.00000000 0.00000000
CB-4 0.00 1.64000% 973.51338740 1.33046820 0.00000000 0.00000000
CB-5 9,000,000.00 5.50000% 1000.00000000 4.58333333 0.00000000 0.00000000
CB-6 87,760,000.00 3.86000% 973.51271753 3.13146593 0.00000000 0.00000000
CB-7 0.00 1.64000% 973.51271753 1.33046741 0.00000000 0.00000000
CB-8 20,000,000.00 5.50000% 1000.00000000 4.58333350 0.00000000 0.00000000
CB-9 833,000.00 5.50000% 1000.00000000 4.58333733 0.00000000 0.00000000
CB-10 12,487,000.00 5.50000% 1013.81311684 4.64664371 0.00000000 0.00000000
CB-11 5,287,000.00 5.50000% 967.37575374 4.43380556 0.00000000 0.00000000
CB-12 4,334,000.00 5.50000% 967.23074296 4.43314029 0.00000000 0.00000000
CB-13 12,410,000.00 5.50000% 1000.00000000 4.58333360 0.00000000 0.00000000
CB-R 100.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000
CB-IO 0.00 5.50000% 968.56643479 4.43926283 0.00000000 0.00000000
2-A-1 20,082,000.00 5.00000% 979.41907579 4.08091276 0.00000000 0.00000000
3-A-1 29,801,000.00 5.50000% 983.38451226 4.50717895 0.00000000 0.00000000
A-PO 1,249,480.28 0.00000% 987.21058647 0.00000000 0.00000000 0.00000000
15-IO 0.00 5.50000% 986.54943372 4.52168382 0.00000000 0.00000000
B-1 6,415,000.00 5.47057% 995.83587217 4.53982541 0.00000000 0.00000000
B-2 2,673,000.00 5.47057% 995.83587355 4.53982417 0.00000000 0.00000000
B-3 1,960,000.00 5.47057% 995.83587245 4.53982653 0.00000000 0.00000000
B-4 1,247,000.00 5.47057% 995.83587009 4.53982358 0.00000000 0.00000000
B-5 713,000.00 5.47057% 995.83587658 4.53983170 0.00000000 0.00000000
B-6 1,247,420.00 5.47057% 995.83659874 4.53982620 0.00000000 0.00000000
<FN>
(5) All classes are per 1,000 dollar 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>
CB-1 0.00000000 0.00000000 3.13146800 0.00000000 959.72689700
CB-2 0.00000000 0.00000000 3.19186145 0.00000000 950.17408751
CB-3 0.00000000 0.00000000 1.24127941 0.00000000 950.17408751
CB-4 0.00000000 0.00000000 1.33046820 0.00000000 959.72689700
CB-5 0.00000000 0.00000000 4.58333333 0.00000000 1000.00000000
CB-6 0.00000000 0.00000000 3.13146593 0.00000000 959.72587842
CB-7 0.00000000 0.00000000 1.33046741 0.00000000 959.72587842
CB-8 0.00000000 0.00000000 4.58333350 0.00000000 1000.00000000
CB-9 0.00000000 0.00000000 4.58333733 0.00000000 1000.00000000
CB-10 0.00000000 0.00000000 4.64664371 0.00000000 1018.45976055
CB-11 0.00000000 0.00000000 4.43380556 0.00000000 956.40116701
CB-12 0.00000000 0.00000000 4.43314029 0.00000000 950.17408860
CB-13 0.00000000 0.00000000 4.58333360 0.00000000 1000.00000000
CB-R 0.00000000 0.00000000 3.90000000 0.00000000 0.00000000
CB-IO 0.00000000 0.00000000 4.43926283 0.00000000 948.69540535
2-A-1 0.00000000 0.00000000 4.08091276 0.00000000 938.07460811
3-A-1 0.00000000 0.00000000 4.50717895 0.00000000 974.08186370
A-PO 0.00000000 0.00000000 0.00000000 0.00000000 984.84168954
15-IO 0.00000000 0.00000000 4.52168382 0.00000000 955.59300129
B-1 0.00000000 0.00000000 4.53982541 0.00000000 994.43462354
B-2 0.00000000 0.00000000 4.53982417 0.00000000 994.43462402
B-3 0.00000000 0.00000000 4.53982653 0.00000000 994.43462245
B-4 0.00000000 0.00000000 4.53982358 0.00000000 994.43462711
B-5 0.00000000 0.00000000 4.53983170 0.00000000 994.43462833
B-6 0.00000000 0.00000000 4.53982620 0.00000000 994.43535457
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
<s> <c> <c> <c> <c> <c> <c>
1-A-PO 0.00000% 0.00 0.00 832,417.91 831,248.51 99.09361338%
2-A-PO 0.00000% 0.00 0.00 181,573.43 180,708.35 95.82282685%
3-A-PO 0.00000% 0.00 0.00 219,508.82 218,583.41 98.44209639%
2-15-IO 5.50000% 480,100.44 451,649.77 0.00 0.00 93.00719973%
3-15-IO 5.50000% 485,033.61 483,199.83 0.00 0.00 98.07473663%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 6,355,020.92
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 6,355,020.92
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 73,686.29
Payment of Interest and Principal 6,281,334.63
Total Withdrawals (Pool Distribution Amount) 6,355,020.92
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 72,640.27
Wells Fargo Bank, N.A. 1,046.02
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 73,686.29
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Class CB-1 Reserve Fund 0.00 0.00 0.00 0.00
Class CB-2 Reserve Fund 0.00 0.00 0.00 0.00
Class CB-6 Reserve Fund 0.00 0.00 0.00 0.00
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 10 0 0 0 10
1,177,525.78 0.00 0.00 0.00 1,177,525.78
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 1 0 0 0 1
226,434.73 0.00 0.00 0.00 226,434.73
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
1,403,960.51 0.00 0.00 0.00 1,403,960.51
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 0.423370% 0.000000% 0.000000% 0.000000% 0.423370%
0.341862% 0.000000% 0.000000% 0.000000% 0.341862%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.042337% 0.000000% 0.000000% 0.000000% 0.042337%
0.065739% 0.000000% 0.000000% 0.000000% 0.065739%
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 0.465707% 0.000000% 0.000000% 0.000000% 0.465707%
0.407601% 0.000000% 0.000000% 0.000000% 0.407601%
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 5 0 0 0 5
724,276.80 0.00 0.00 0.00 724,276.80
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 1 0 0 0 1
226,434.73 0.00 0.00 0.00 226,434.73
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 6 0 0 0 6
950,711.53 0.00 0.00 0.00 950,711.53
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.251762% 0.000000% 0.000000% 0.000000% 0.251762%
0.246386% 0.000000% 0.000000% 0.000000% 0.246386%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.050352% 0.000000% 0.000000% 0.000000% 0.050352%
0.077029% 0.000000% 0.000000% 0.000000% 0.077029%
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 0.302115% 0.000000% 0.000000% 0.000000% 0.302115%
0.323415% 0.000000% 0.000000% 0.000000% 0.323415%
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
78,081.80 0.00 0.00 0.00 78,081.80
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
78,081.80 0.00 0.00 0.00 78,081.80
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.925926% 0.000000% 0.000000% 0.000000% 0.925926%
0.392191% 0.000000% 0.000000% 0.000000% 0.392191%
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 0.925926% 0.000000% 0.000000% 0.000000% 0.925926%
0.392191% 0.000000% 0.000000% 0.000000% 0.392191%
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 4 0 0 0 4
375,167.18 0.00 0.00 0.00 375,167.18
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 4 0 0 0 4
375,167.18 0.00 0.00 0.00 375,167.18
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.492537% 0.000000% 0.000000% 0.000000% 1.492537%
1.227013% 0.000000% 0.000000% 0.000000% 1.227013%
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 1.492537% 0.000000% 0.000000% 0.000000% 1.492537%
1.227013% 0.000000% 0.000000% 0.000000% 1.227013%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 9,334.78
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 Sep-04 0.000%
Original Principal Balance 0.00 Oct-04 0.000%
Current Principal Balance 0.00 Nov-04 0.000%
Dec-04 0.000%
Current REO Total Jan-05 0.000%
Loans in REO 0 Feb-05 0.000%
Original Principal Balance 0.00 Mar-05 0.000%
Current Principal Balance 0.00 Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-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 Sep-04 0.000%
Original Principal Balance 0.00 Oct-04 0.000%
Current Principal Balance 0.00 Nov-04 0.000%
Dec-04 0.000%
Current REO Total Jan-05 0.000%
Loans in REO 0 Feb-05 0.000%
Original Principal Balance 0.00 Mar-05 0.000%
Current Principal Balance 0.00 Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-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 Sep-04 0.000%
Original Principal Balance 0.00 Oct-04 0.000%
Current Principal Balance 0.00 Nov-04 0.000%
Dec-04 0.000%
Current REO Total Jan-05 0.000%
Loans in REO 0 Feb-05 0.000%
Original Principal Balance 0.00 Mar-05 0.000%
Current Principal Balance 0.00 Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-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 Sep-04 0.000%
Original Principal Balance 0.00 Oct-04 0.000%
Current Principal Balance 0.00 Nov-04 0.000%
Dec-04 0.000%
Current REO Total Jan-05 0.000%
Loans in REO 0 Feb-05 0.000%
Original Principal Balance 0.00 Mar-05 0.000%
Current Principal Balance 0.00 Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-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 Sep-04 0.000%
Original Principal Balance 0.00 Oct-04 0.000%
Current Principal Balance 0.00 Nov-04 0.000%
Dec-04 0.000%
Current Foreclosure Total Jan-05 0.000%
Loans in Foreclosure 0 Feb-05 0.000%
Original Principal Balance 0.00 Mar-05 0.000%
Current Principal Balance 0.00 Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-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 Sep-04 0.000%
Original Principal Balance 0.00 Oct-04 0.000%
Current Principal Balance 0.00 Nov-04 0.000%
Dec-04 0.000%
Current Foreclosure Total Jan-05 0.000%
Loans in Foreclosure 0 Feb-05 0.000%
Original Principal Balance 0.00 Mar-05 0.000%
Current Principal Balance 0.00 Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-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 Sep-04 0.000%
Original Principal Balance 0.00 Oct-04 0.000%
Current Principal Balance 0.00 Nov-04 0.000%
Dec-04 0.000%
Current Foreclosure Total Jan-05 0.000%
Loans in Foreclosure 0 Feb-05 0.000%
Original Principal Balance 0.00 Mar-05 0.000%
Current Principal Balance 0.00 Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-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 Sep-04 0.000%
Original Principal Balance 0.00 Oct-04 0.000%
Current Principal Balance 0.00 Nov-04 0.000%
Dec-04 0.000%
Current Foreclosure Total Jan-05 0.000%
Loans in Foreclosure 0 Feb-05 0.000%
Original Principal Balance 0.00 Mar-05 0.000%
Current Principal Balance 0.00 Apr-05 0.000%
May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
COLLATERAL STATEMENT
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 5.973701%
Weighted Average Pass-Through Rate 5.720101%
Weighted Average Maturity(Stepdown Calculation) 329
Beginning Scheduled Collateral Loan Count 2,383
Number Of Loans Paid In Full 21
Ending Scheduled Collateral Loan Count 2,362
Beginning Scheduled Collateral Balance 348,673,310.17
Ending Scheduled Collateral Balance 344,054,014.49
Ending Actual Collateral Balance at 29-Jul-2005 344,444,897.79
Monthly P&I Constant 2,227,845.95
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Non-PO Optimal Amount 6,190,721.99
Class AP Deferred Amount 0.00
Scheduled Principal 492,120.99
Unscheduled Principal 4,127,174.69
Miscellaneous Reporting
Senior % 95.574780%
Group Level Collateral Statement
Group 1 2 3
Collateral Description Fixed 15 & 30 Year Fixed 15 & 30 Year Fixed 15 & 30 Year
Weighted Average Coupon Rate 6.035856 5.337361 5.801071
Weighted Average Net Rate 5.785856 5.087361 5.551071
Weighted Average Maturity 355 176 176
Beginning Loan Count 2,004 110 269
Loans Paid In Full 18 2 1
Ending Loan Count 1,986 108 268
Beginning Scheduled Balance 297,223,817.01 20,685,846.07 30,763,647.09
Ending Scheduled Balance 293,721,420.60 19,851,565.87 30,481,028.02
Record Date 07/29/2005 07/29/2005 07/29/2005
Principal And Interest Constant 1,798,522.89 169,652.22 259,670.84
Scheduled Principal 303,522.86 77,645.70 110,952.43
Unscheduled Principal 3,198,873.55 756,634.50 171,666.64
Scheduled Interest 1,495,000.03 92,006.52 148,718.41
Servicing Fees 61,921.63 4,309.55 6,409.09
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 891.67 62.06 92.29
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 1,432,186.73 87,634.91 142,217.03
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 5.782256 5.083761 5.547471
Group Level Collateral Statement
Group Total
Collateral Description Mixed Fixed
Weighted Average Coupon Rate 5.973701
Weighted Average Net Rate 5.723701
Weighted Average Maturity 329
Beginning Loan Count 2,383
Loans Paid In Full 21
Ending Loan Count 2,362
Beginning Scheduled Balance 348,673,310.17
Ending scheduled Balance 344,054,014.49
Record Date 07/29/2005
Principal And Interest Constant 2,227,845.95
Scheduled Principal 492,120.99
Unscheduled Principal 4,127,174.69
Scheduled Interest 1,735,724.96
Servicing Fees 72,640.27
Master Servicing Fees 0.00
Trustee Fee 1,046.02
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 0.00
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 1,662,038.67
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Prepayment Penalties 0.00
Special Servicing Fee 0.00
Pass-Through Rate 5.720101
Miscellaneous Reporting
Group 1
CPR 12.189014%
Subordinate % 4.089925%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.910075%
Group 2
CPR 36.165360%
Subordinate % 4.075144%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.924856%
Group 3
CPR 6.517264%
Subordinate % 4.054121%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.945879%
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 18 3,114,713.00 3,104,538.18 0 0.00 0.00
2 2 759,000.00 750,179.15 0 0.00 0.00
3 1 168,000.00 165,614.40 0 0.00 0.00
Total 21 4,041,713.00 4,020,331.73 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 97,433.73
2 0 0.00 0.00 0 0.00 0.00 9,230.12
3 0 0.00 0.00 0 0.00 0.00 6,661.94
Total 0 0.00 0.00 0 0.00 0.00 113,325.79
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 3301410852 AR 80.00 01-May-2005 172,000.00 171,417.01
1 3301519736 CA 55.61 01-May-2005 285,000.00 283,935.68
1 3301590059 FL 80.00 01-Apr-2005 140,000.00 139,279.27
1 3301604272 FL 66.66 01-May-2005 90,000.00 89,621.41
1 3301692152 GA 79.99 01-May-2005 168,520.00 167,905.62
1 6388313717 FL 80.00 01-May-2005 118,400.00 117,916.12
1 6508296560 FL 79.99 01-Apr-2005 60,841.00 60,562.99
1 6578891514 FL 80.00 01-May-2005 157,600.00 156,948.09
1 6580770565 FL 79.99 01-Apr-2005 140,809.00 140,180.92
1 6611623700 FL 80.00 01-May-2005 124,000.00 123,502.48
1 6702001410 CA 70.00 01-Apr-2005 315,000.00 313,525.61
1 6703155249 CA 80.00 01-May-2005 292,000.00 290,855.71
1 6736376895 MD 75.00 01-May-2005 251,250.00 250,241.95
1 6800304336 FL 80.17 01-Apr-2005 224,489.00 223,333.34
1 6831403206 MD 80.00 01-May-2005 136,000.00 135,454.36
1 6884995058 UT 58.93 01-May-2005 122,000.00 121,544.36
1 6899515263 WA 79.99 01-May-2005 245,734.00 244,502.26
1 6931120528 PA 103.00 01-Apr-2005 71,070.00 70,712.64
2 6028415252 FL 80.00 01-Apr-2005 156,000.00 153,117.14
2 6894356325 CA 58.82 01-May-2005 603,000.00 594,287.24
3 6278562076 CA 42.00 01-Apr-2005 168,000.00 165,004.70
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 3301410852 Loan Paid in Full 0 6.875% 360 3
1 3301519736 Loan Paid in Full 0 6.375% 360 3
1 3301590059 Loan Paid in Full 0 5.875% 360 4
1 3301604272 Loan Paid in Full 0 5.750% 360 3
1 3301692152 Loan Paid in Full 0 6.500% 360 3
1 6388313717 Loan Paid in Full 0 6.750% 360 3
1 6508296560 Loan Paid in Full 0 6.500% 360 4
1 6578891514 Loan Paid in Full 0 6.250% 360 3
1 6580770565 Loan Paid in Full 0 6.625% 360 4
1 6611623700 Loan Paid in Full 0 6.000% 360 3
1 6702001410 Loan Paid in Full 0 6.375% 360 4
1 6703155249 Loan Paid in Full 0 6.625% 360 3
1 6736376895 Loan Paid in Full 0 6.000% 360 3
1 6800304336 Loan Paid in Full 0 5.875% 360 4
1 6831403206 Loan Paid in Full (1) 6.000% 360 3
1 6884995058 Loan Paid in Full 0 6.375% 360 3
1 6899515263 Loan Paid in Full 0 6.250% 360 3
1 6931120528 Loan Paid in Full 0 6.000% 360 4
2 6028415252 Loan Paid in Full 0 5.250% 180 4
2 6894356325 Loan Paid in Full 0 5.500% 180 3
3 6278562076 Loan Paid in Full 0 5.750% 180 4
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.185% Current Month 13.333% Current Month 1,927.436%
3 Month Average 0.925% 3 Month Average 10.514% 3 Month Average 2,207.889%
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>
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 1.994% N/A May-2005 2,176.203% N/A
Jun-2005 7.103% N/A Jun-2005 2,436.086% N/A
Jul-2005 11.106% N/A Jul-2005 2,260.147% N/A
Aug-2005 13.333% N/A Aug-2005 1,927.436% 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 1.077% Current Month 12.189% Current Month 1,766.001%
3 Month Average 0.939% 3 Month Average 10.683% 3 Month Average 2,325.647%
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>
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 2.312% N/A May-2005 2,564.458% N/A
Jun-2005 8.228% N/A Jun-2005 2,836.162% N/A
Jul-2005 11.634% N/A Jul-2005 2,374.778% N/A
Aug-2005 12.189% N/A Aug-2005 1,766.001% 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 3.672% Current Month 36.165% Current Month 5,056.001%
3 Month Average 1.533% 3 Month Average 15.598% 3 Month Average 2,394.394%
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>
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 0.171% N/A May-2005 153.271% N/A
Jun-2005 0.424% N/A Jun-2005 136.167% N/A
Jul-2005 10.205% N/A Jul-2005 1,991.013% N/A
Aug-2005 36.165% N/A Aug-2005 5,056.001% 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 0.560% Current Month 6.517% Current Month 943.115%
3 Month Average 0.378% 3 Month Average 4.403% 3 Month Average 778.310%
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>
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 0.096% N/A May-2005 103.954% N/A
Jun-2005 0.223% N/A Jun-2005 76.333% N/A
Jul-2005 6.467% N/A Jul-2005 1,315.483% N/A
Aug-2005 6.517% N/A Aug-2005 943.115% 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%
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>
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-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>
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-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>
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-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>
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-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>
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-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>
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-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>
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-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>
Sep-2004 N/A N/A Sep-2004 N/A N/A
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-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>