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
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 August 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
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.
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: 8/25/2005
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 August 25, 2005 distribution.
EX-99.1
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Record Date: 7/29/2005
Distribution Date: 8/25/2005
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 3.69000% 198,543,167.41 630,870.91
A-1B 004421NR0 SEN 3.72000% 49,635,791.85 158,999.99
A-2A 004421NS8 SEN 3.55000% 72,396,100.17 221,310.86
A-2B 004421PG2 SEN 3.66000% 50,184,000.00 158,163.24
A-2C 004421PH0 SEN 3.71000% 12,963,000.00 41,413.18
A-2D 004421PJ6 SEN 3.81000% 33,778,000.00 110,819.99
M-1 004421NT6 MEZ 3.90000% 20,952,000.00 70,363.80
M-2 004421NU3 MEZ 3.91000% 18,686,000.00 62,914.72
M-3 004421NV1 MEZ 3.93000% 11,042,000.00 37,367.97
M-4 004421NW9 MEZ 4.09000% 10,193,000.00 35,899.18
M-5 004421NX7 MEZ 4.12000% 9,626,000.00 34,150.91
M-6 004421NY5 MEZ 4.15000% 9,343,000.00 33,388.25
M-7 004421NZ2 MEZ 4.66000% 7,644,000.00 30,673.67
M-8 004421PA5 MEZ 4.76000% 5,946,000.00 24,371.99
M-9 004421PB3 MEZ 5.16000% 5,379,000.00 23,900.69
P ACE05RM2P SEN 0.00000% 100.00 163,390.41
M-10 004421PC1 MEZ 6.46000% 5,096,000.00 28,347.92
M-11 004421PD9 MEZ 6.46000% 5,663,000.00 31,502.01
B-1 004421PE7 SEN 6.46000% 8,777,000.00 48,824.50
B-2 004421PF4 SEN 6.46000% 6,229,000.00 34,650.54
CE AC05RM2CE SEN 0.00000% 6,511,954.80 1,298,411.35
R ACE05RM2R SEN 0.00000% 0.00 0.00
Totals 548,588,114.23 3,279,736.08
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 4,773,267.81 0.00 193,769,899.60 5,404,138.72 0.00
A-1B 1,193,316.95 0.00 48,442,474.90 1,352,316.94 0.00
A-2A 4,099,010.42 0.00 68,297,089.75 4,320,321.28 0.00
A-2B 0.00 0.00 50,184,000.00 158,163.24 0.00
A-2C 0.00 0.00 12,963,000.00 41,413.18 0.00
A-2D 0.00 0.00 33,778,000.00 110,819.99 0.00
M-1 0.00 0.00 20,952,000.00 70,363.80 0.00
M-2 0.00 0.00 18,686,000.00 62,914.72 0.00
M-3 0.00 0.00 11,042,000.00 37,367.97 0.00
M-4 0.00 0.00 10,193,000.00 35,899.18 0.00
M-5 0.00 0.00 9,626,000.00 34,150.91 0.00
M-6 0.00 0.00 9,343,000.00 33,388.25 0.00
M-7 0.00 0.00 7,644,000.00 30,673.67 0.00
M-8 0.00 0.00 5,946,000.00 24,371.99 0.00
M-9 0.00 0.00 5,379,000.00 23,900.69 0.00
P 0.00 0.00 100.00 163,390.41 0.00
M-10 0.00 0.00 5,096,000.00 28,347.92 0.00
M-11 0.00 0.00 5,663,000.00 31,502.01 0.00
B-1 0.00 0.00 8,777,000.00 48,824.50 0.00
B-2 0.00 0.00 6,229,000.00 34,650.54 0.00
CE 0.00 0.00 6,511,954.80 1,298,411.35 0.00
R 0.00 0.00 0.00 0.00 0.00
Totals 10,065,595.18 0.00 538,522,519.05 13,345,331.26 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</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 206,792,000.00 198,543,167.41 0.00 4,773,267.81 0.00 0.00
A-1B 51,698,000.00 49,635,791.85 0.00 1,193,316.95 0.00 0.00
A-2A 79,753,000.00 72,396,100.17 0.00 4,099,010.42 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 566,256,939.08 548,588,114.23 0.00 10,065,595.18 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 4,773,267.81 193,769,899.60 0.93702803 4,773,267.81
A-1B 1,193,316.95 48,442,474.90 0.93702803 1,193,316.95
A-2A 4,099,010.42 68,297,089.75 0.85635763 4,099,010.42
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 10,065,595.18 538,522,519.05 0.95102149 10,065,595.18
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 206,792,000.00 960.11048498 0.00000000 23.08245875 0.00000000
A-1B 51,698,000.00 960.11048493 0.00000000 23.08245870 0.00000000
A-2A 79,753,000.00 907.75394242 0.00000000 51.39631638 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 23.08245875 937.02802623 0.93702803 23.08245875
A-1B 0.00000000 23.08245870 937.02802623 0.93702803 23.08245870
A-2A 0.00000000 51.39631638 856.35762605 0.85635763 51.39631638
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 3.69000% 198,543,167.41 630,870.91 0.00 0.00
A-1B 51,698,000.00 3.72000% 49,635,791.85 158,999.99 0.00 0.00
A-2A 79,753,000.00 3.55000% 72,396,100.17 221,310.86 0.00 0.00
A-2B 50,184,000.00 3.66000% 50,184,000.00 158,163.24 0.00 0.00
A-2C 12,963,000.00 3.71000% 12,963,000.00 41,413.18 0.00 0.00
A-2D 33,778,000.00 3.81000% 33,778,000.00 110,819.99 0.00 0.00
M-1 20,952,000.00 3.90000% 20,952,000.00 70,363.80 0.00 0.00
M-2 18,686,000.00 3.91000% 18,686,000.00 62,914.72 0.00 0.00
M-3 11,042,000.00 3.93000% 11,042,000.00 37,367.97 0.00 0.00
M-4 10,193,000.00 4.09000% 10,193,000.00 35,899.18 0.00 0.00
M-5 9,626,000.00 4.12000% 9,626,000.00 34,150.91 0.00 0.00
M-6 9,343,000.00 4.15000% 9,343,000.00 33,388.25 0.00 0.00
M-7 7,644,000.00 4.66000% 7,644,000.00 30,673.67 0.00 0.00
M-8 5,946,000.00 4.76000% 5,946,000.00 24,371.99 0.00 0.00
M-9 5,379,000.00 5.16000% 5,379,000.00 23,900.69 0.00 0.00
M-10 5,096,000.00 6.46000% 5,096,000.00 28,347.92 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
M-11 5,663,000.00 6.46000% 5,663,000.00 31,502.01 0.00 0.00
B-1 8,777,000.00 6.46000% 8,777,000.00 48,824.50 0.00 0.00
B-2 6,229,000.00 6.46000% 6,229,000.00 34,650.54 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 1,817,934.32 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 0.00 630,870.91 0.00 193,769,899.60
A-1B 0.00 0.00 158,999.99 0.00 48,442,474.90
A-2A 0.00 0.00 221,310.86 0.00 68,297,089.75
A-2B 0.00 0.00 158,163.24 0.00 50,184,000.00
A-2C 0.00 0.00 41,413.18 0.00 12,963,000.00
A-2D 0.00 0.00 110,819.99 0.00 33,778,000.00
M-1 0.00 0.00 70,363.80 0.00 20,952,000.00
M-2 0.00 0.00 62,914.72 0.00 18,686,000.00
M-3 0.00 0.00 37,367.97 0.00 11,042,000.00
M-4 0.00 0.00 35,899.18 0.00 10,193,000.00
M-5 0.00 0.00 34,150.91 0.00 9,626,000.00
M-6 0.00 0.00 33,388.25 0.00 9,343,000.00
M-7 0.00 0.00 30,673.67 0.00 7,644,000.00
M-8 0.00 0.00 24,371.99 0.00 5,946,000.00
M-9 0.00 0.00 23,900.69 0.00 5,379,000.00
M-10 0.00 0.00 28,347.92 0.00 5,096,000.00
P 0.00 0.00 163,390.41 0.00 100.00
M-11 0.00 0.00 31,502.01 0.00 5,663,000.00
B-1 0.00 0.00 48,824.50 0.00 8,777,000.00
B-2 0.00 0.00 34,650.54 0.00 6,229,000.00
CE 0.00 0.00 1,298,411.35 0.00 6,511,954.80
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 3,279,736.08 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 3.69000% 960.11048498 3.05075104 0.00000000 0.00000000
A-1B 51,698,000.00 3.72000% 960.11048493 3.07555399 0.00000000 0.00000000
A-2A 79,753,000.00 3.55000% 907.75394242 2.77495342 0.00000000 0.00000000
A-2B 50,184,000.00 3.66000% 1000.00000000 3.15166667 0.00000000 0.00000000
A-2C 12,963,000.00 3.71000% 1000.00000000 3.19472190 0.00000000 0.00000000
A-2D 33,778,000.00 3.81000% 1000.00000000 3.28083338 0.00000000 0.00000000
M-1 20,952,000.00 3.90000% 1000.00000000 3.35833333 0.00000000 0.00000000
M-2 18,686,000.00 3.91000% 1000.00000000 3.36694424 0.00000000 0.00000000
M-3 11,042,000.00 3.93000% 1000.00000000 3.38416682 0.00000000 0.00000000
M-4 10,193,000.00 4.09000% 1000.00000000 3.52194447 0.00000000 0.00000000
M-5 9,626,000.00 4.12000% 1000.00000000 3.54777789 0.00000000 0.00000000
M-6 9,343,000.00 4.15000% 1000.00000000 3.57361126 0.00000000 0.00000000
M-7 7,644,000.00 4.66000% 1000.00000000 4.01277734 0.00000000 0.00000000
M-8 5,946,000.00 4.76000% 1000.00000000 4.09888833 0.00000000 0.00000000
M-9 5,379,000.00 5.16000% 1000.00000000 4.44333333 0.00000000 0.00000000
M-10 5,096,000.00 6.46000% 1000.00000000 5.56277865 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
M-11 5,663,000.00 6.46000% 1000.00000000 5.56277768 0.00000000 0.00000000
B-1 8,777,000.00 6.46000% 1000.00000000 5.56277771 0.00000000 0.00000000
B-2 6,229,000.00 6.46000% 1000.00000000 5.56277733 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 3.05075104 0.00000000 937.02802623
A-1B 0.00000000 0.00000000 3.07555399 0.00000000 937.02802623
A-2A 0.00000000 0.00000000 2.77495342 0.00000000 856.35762605
A-2B 0.00000000 0.00000000 3.15166667 0.00000000 1000.00000000
A-2C 0.00000000 0.00000000 3.19472190 0.00000000 1000.00000000
A-2D 0.00000000 0.00000000 3.28083338 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 3.35833333 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 3.36694424 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 3.38416682 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.52194447 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 3.54777789 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 3.57361126 0.00000000 1000.00000000
M-7 0.00000000 0.00000000 4.01277734 0.00000000 1000.00000000
M-8 0.00000000 0.00000000 4.09888833 0.00000000 1000.00000000
M-9 0.00000000 0.00000000 4.44333333 0.00000000 1000.00000000
M-10 0.00000000 0.00000000 5.56277865 0.00000000 1000.00000000
P 0.00000000 0.00000000 1633904.10000000 0.00000000 1000.00000000
M-11 0.00000000 0.00000000 5.56277768 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 5.56277771 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 5.56277733 0.00000000 1000.00000000
CE 0.00000000 0.00000000 199.36180428 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 13,326,740.91
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 175,299.39
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 163,390.41
Total Deposits 13,665,430.71
Withdrawals
Reimbursement for Servicer Advances 81,233.95
Payment of Service Fee 238,865.50
Payment of Interest and Principal 13,345,331.26
Total Withdrawals (Pool Distribution Amount) 13,665,430.71
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 228,578.52
Credit Risk Manager Fee - The Murrayhill Company 6,857.72
Master Servicing Fee: Wells Fargo Bank 3,429.26
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 238,865.50
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 107 0 0 0 107
19,794,707.79 0.00 0.00 0.00 19,794,707.79
60 Days 44 0 0 0 44
7,303,371.56 0.00 0.00 0.00 7,303,371.56
90 Days 2 0 0 0 2
276,537.53 0.00 0.00 0.00 276,537.53
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 153 0 0 0 153
27,374,616.88 0.00 0.00 0.00 27,374,616.88
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 3.249317% 0.000000% 0.000000% 0.000000% 3.249317%
3.675166% 0.000000% 0.000000% 0.000000% 3.675166%
60 Days 1.336168% 0.000000% 0.000000% 0.000000% 1.336168%
1.355974% 0.000000% 0.000000% 0.000000% 1.355974%
90 Days 0.060735% 0.000000% 0.000000% 0.000000% 0.060735%
0.051343% 0.000000% 0.000000% 0.000000% 0.051343%
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 4.646219% 0.000000% 0.000000% 0.000000% 4.646219%
5.082483% 0.000000% 0.000000% 0.000000% 5.082483%
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 18 0 0 0 18
930,935.31 0.00 0.00 0.00 930,935.31
60 Days 7 0 0 0 7
353,806.20 0.00 0.00 0.00 353,806.20
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 25 0 0 0 25
1,284,741.51 0.00 0.00 0.00 1,284,741.51
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.500000% 0.000000% 0.000000% 0.000000% 2.500000%
2.116710% 0.000000% 0.000000% 0.000000% 2.116710%
60 Days 0.972222% 0.000000% 0.000000% 0.000000% 0.972222%
0.804465% 0.000000% 0.000000% 0.000000% 0.804465%
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 3.472222% 0.000000% 0.000000% 0.000000% 3.472222%
2.921175% 0.000000% 0.000000% 0.000000% 2.921175%
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 63 0 0 0 63
12,398,203.52 0.00 0.00 0.00 12,398,203.52
60 Days 25 0 0 0 25
4,723,369.37 0.00 0.00 0.00 4,723,369.37
90 Days 1 0 0 0 1
212,361.70 0.00 0.00 0.00 212,361.70
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 89 0 0 0 89
17,333,934.59 0.00 0.00 0.00 17,333,934.59
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 4.188830% 0.000000% 0.000000% 0.000000% 4.188830%
4.489410% 0.000000% 0.000000% 0.000000% 4.489410%
60 Days 1.662234% 0.000000% 0.000000% 0.000000% 1.662234%
1.710340% 0.000000% 0.000000% 0.000000% 1.710340%
90 Days 0.066489% 0.000000% 0.000000% 0.000000% 0.066489%
0.076897% 0.000000% 0.000000% 0.000000% 0.076897%
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 5.917553% 0.000000% 0.000000% 0.000000% 5.917553%
6.276646% 0.000000% 0.000000% 0.000000% 6.276646%
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 9 0 0 0 9
578,386.46 0.00 0.00 0.00 578,386.46
60 Days 6 0 0 0 6
377,358.03 0.00 0.00 0.00 377,358.03
90 Days 1 0 0 0 1
64,175.83 0.00 0.00 0.00 64,175.83
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 16 0 0 0 16
1,019,920.32 0.00 0.00 0.00 1,019,920.32
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.040816% 0.000000% 0.000000% 0.000000% 2.040816%
1.890392% 0.000000% 0.000000% 0.000000% 1.890392%
60 Days 1.360544% 0.000000% 0.000000% 0.000000% 1.360544%
1.233353% 0.000000% 0.000000% 0.000000% 1.233353%
90 Days 0.226757% 0.000000% 0.000000% 0.000000% 0.226757%
0.209752% 0.000000% 0.000000% 0.000000% 0.209752%
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 3.628118% 0.000000% 0.000000% 0.000000% 3.628118%
3.333497% 0.000000% 0.000000% 0.000000% 3.333497%
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 17 0 0 0 17
5,887,182.50 0.00 0.00 0.00 5,887,182.50
60 Days 6 0 0 0 6
1,848,837.96 0.00 0.00 0.00 1,848,837.96
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 23 0 0 0 23
7,736,020.46 0.00 0.00 0.00 7,736,020.46
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.707006% 0.000000% 0.000000% 0.000000% 2.707006%
3.133726% 0.000000% 0.000000% 0.000000% 3.133726%
60 Days 0.955414% 0.000000% 0.000000% 0.000000% 0.955414%
0.984130% 0.000000% 0.000000% 0.000000% 0.984130%
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 3.662420% 0.000000% 0.000000% 0.000000% 3.662420%
4.117856% 0.000000% 0.000000% 0.000000% 4.117856%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 175,299.39
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.
GROUP I 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.
GROUP II 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.
GROUP III 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.
GROUP IV 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.
GROUP I 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.
GROUP II 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.
GROUP III 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.
GROUP IV 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 & Arm
Weighted Average Gross Coupon 7.339299%
Weighted Average Net Coupon 6.839298%
Weighted Average Pass-Through Rate 6.816796%
Weighted Average Maturity(Stepdown Calculation) 340
Beginning Scheduled Collateral Loan Count 3,349
Number Of Loans Paid In Full 56
Ending Scheduled Collateral Loan Count 3,293
Beginning Scheduled Collateral Balance 548,588,114.23
Ending Scheduled Collateral Balance 538,522,519.05
Ending Actual Collateral Balance at 29-Jul-2005 538,607,184.01
Monthly P&I Constant 3,606,462.51
Special Servicing Fee 0.00
Prepayment Penalties 163,390.41
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 251,252.46
Unscheduled Principal 9,814,342.72
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
Extra principal distribution Amount 0.00
Excess Cash Amount 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Coupon Rate 7.339299%
Weighted Average Net Rate 6.839298%
Weighted Average Pass Through Rate 6.816796%
Weighted Average Maturity 340
Record Date 07/29/2005
Principal and Interest Constant 3,606,462.51
Beginning Loan Count 3,349
Loans Paid in Full 56
Ending Loan Count 3,293
Beginning Scheduled Balance 548,588,114.23
Ending Scheduled Balance 538,522,519.05
Ending Actual Balance at 29-Jul-2005 538,607,184.01
Scheduled Principal 251,252.46
Unscheduled Principal 9,814,342.72
Scheduled Interest 3,355,210.05
Servicing Fee 228,578.52
Master Servicing Fee 3,429.26
Trustee Fee 0.00
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 6,857.35
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 3,116,345.63
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Special Servicing Fee 0.00
Prepayment Penalties 163,390.41
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 8.806643 7.158645 9.698069
Weighted Average Net Rate 8.306643 6.658645 9.198069
Weighted Average Maturity 259 355 199
Beginning Loan Count 727 1,533 450
Loans Paid In Full 7 29 9
Ending Loan Count 720 1,504 441
Beginning Scheduled Balance 44,298,103.58 281,746,980.13 31,233,159.09
Ending Scheduled Balance 43,974,074.74 276,104,424.21 30,592,957.81
Record Date 07/29/2005 07/29/2005 07/29/2005
Principal And Interest Constant 355,282.91 1,855,916.53 266,911.05
Scheduled Principal 30,184.91 175,144.27 14,493.28
Unscheduled Principal 293,843.93 5,467,411.65 625,708.00
Scheduled Interest 325,098.00 1,680,772.26 252,417.77
Servicing Fees 18,457.54 117,394.58 13,013.82
Master Servicing Fees 276.86 1,760.92 195.21
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 553.73 3,521.84 390.41
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 305,809.87 1,558,094.92 238,818.33
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 8.284143 6.636145 9.175569
Group Level Collateral Statement
Group GROUP IV Total
Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 6.880494 7.339299
Weighted Average Net Rate 6.380494 6.839298
Weighted Average Maturity 357 340
Beginning Loan Count 639 3,349
Loans Paid In Full 11 56
Ending Loan Count 628 3,293
Beginning Scheduled Balance 191,309,871.43 548,588,114.23
Ending scheduled Balance 187,851,062.29 538,522,519.05
Record Date 07/29/2005 07/29/2005
Principal And Interest Constant 1,128,352.02 3,606,462.51
Scheduled Principal 31,430.00 251,252.46
Unscheduled Principal 3,427,379.14 9,814,342.72
Scheduled Interest 1,096,922.02 3,355,210.05
Servicing Fees 79,712.45 228,578.39
Master Servicing Fees 1,195.69 3,428.68
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 2,391.37 6,857.35
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 1,013,622.51 3,116,345.63
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 6.357994 6.816796
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 7 292,470.00 292,043.17 0 0.00 0.00
GROUP II 29 5,489,794.00 5,468,673.17 0 0.00 0.00
GROUP III 9 625,905.00 624,772.98 0 0.00 0.00
GROUP IV 11 3,442,700.00 3,441,621.22 0 0.00 0.00
Total 56 9,850,869.00 9,827,110.54 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 1,925.29
GROUP II 0 0.00 0.00 0 0.00 0.00 1,930.50
GROUP III 0 0.00 0.00 0 0.00 0.00 1,221.90
GROUP IV 0 0.00 0.00 0 0.00 0.00 (13,925.11)
Total 0 0.00 0.00 0 0.00 0.00 (8,847.42)
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 0110440436 AZ 100.00 01-Apr-2005 46,970.00 46,858.60
GROUP I 0110441182 CA 100.00 01-Apr-2005 52,000.00 51,895.21
GROUP I 0110443990 OR 100.00 01-May-2005 36,200.00 36,129.83
GROUP I 0110450560 FL 99.99 01-May-2005 36,700.00 36,648.08
GROUP I 0110450576 MO 100.00 01-May-2005 27,600.00 27,550.43
GROUP I 0110450832 CA 100.00 01-May-2005 36,400.00 36,338.12
GROUP I 0110451802 CA 100.00 01-May-2005 56,600.00 56,498.37
GROUP II 0110440437 AZ 80.00 01-Apr-2005 187,883.00 187,160.01
GROUP II 0110440636 CA 80.00 01-Apr-2005 200,000.00 199,372.87
GROUP II 0110440647 IL 90.00 01-Apr-2005 198,000.00 197,292.16
GROUP II 0110440867 CA 89.45 01-Apr-2005 344,400.00 342,915.07
GROUP II 0110440889 WI 81.15 01-Mar-2005 211,000.00 209,967.39
GROUP II 0110441012 IL 95.00 01-Apr-2005 65,455.00 65,227.89
GROUP II 0110441186 CA 80.00 01-Apr-2005 208,000.00 208,000.00
GROUP II 0110441201 IL 75.00 01-Apr-2005 225,000.00 224,054.25
GROUP II 0110441289 NV 90.00 01-Mar-2005 238,500.00 237,421.25
GROUP II 0110444208 MN 70.00 01-May-2005 150,500.00 150,200.34
GROUP II 0110444219 CA 80.46 01-May-2005 243,000.00 242,180.10
GROUP II 0110444228 IL 85.00 01-May-2005 221,850.00 221,850.00
GROUP II 0110444232 IL 85.00 01-May-2005 146,200.00 145,750.45
GROUP II 0110444303 OR 80.00 01-May-2005 144,800.00 144,246.12
GROUP II 0110444384 TX 85.00 01-May-2005 131,750.00 131,247.93
GROUP II 0110444423 IL 80.00 01-Apr-2005 297,600.00 296,232.28
GROUP II 0110444599 CA 80.00 01-Apr-2005 320,000.00 320,000.00
GROUP II 0110450563 FL 79.99 01-May-2005 146,800.00 146,361.85
GROUP II 0110450579 MO 80.00 01-May-2005 110,400.00 99,954.28
GROUP II 0110450608 CA 80.00 01-May-2005 314,400.00 314,400.00
GROUP II 0110450836 CA 80.00 01-May-2005 145,600.00 145,600.00
GROUP II 0110450917 TX 80.00 01-May-2005 65,220.00 65,040.32
GROUP II 0110451159 IL 90.00 01-May-2005 148,500.00 148,118.85
GROUP II 0110451415 CA 80.00 01-May-2005 240,000.00 239,452.99
GROUP II 0110451517 CA 80.00 01-May-2005 304,000.00 302,992.52
GROUP II 0110451719 TX 95.00 01-Jun-2005 55,846.00 55,748.28
GROUP II 0110451770 IL 90.00 01-Jun-2005 102,690.00 102,468.95
GROUP II 0110451803 CA 80.00 01-May-2005 226,400.00 226,400.00
GROUP II 0110465481 IL 80.00 01-Jun-2005 96,000.00 95,825.00
GROUP III 0110440299 CA 100.00 01-Apr-2005 79,000.00 78,831.45
GROUP III 0110443899 CA 100.00 01-May-2005 91,000.00 90,796.04
GROUP III 0110443932 CA 100.00 01-May-2005 83,000.00 82,816.23
GROUP III 0110443975 IL 100.00 01-Apr-2005 85,000.00 84,818.29
GROUP III 0110444100 CA 100.00 01-Apr-2005 80,000.00 79,816.19
GROUP III 0110450607 CA 100.00 01-May-2005 78,600.00 78,458.83
GROUP III 0110450916 TX 100.00 01-May-2005 16,305.00 16,273.86
GROUP III 0110451495 IL 100.00 01-Oct-2004 37,000.00 36,829.86
GROUP III 0110451515 CA 100.00 01-May-2005 76,000.00 75,845.35
GROUP IV 0110440261 CA 90.00 01-Apr-2005 333,000.00 333,000.00
GROUP IV 0110440300 CA 80.00 01-Apr-2005 316,000.00 316,000.00
GROUP IV 0110440687 CA 90.00 01-Apr-2005 351,000.00 351,000.00
GROUP IV 0110440951 CA 90.00 01-Apr-2005 270,000.00 269,994.29
GROUP IV 0110444117 CA 80.00 01-May-2005 364,000.00 363,893.37
GROUP IV 0110444433 CA 80.00 01-Apr-2005 208,000.00 207,973.47
GROUP IV 0110444444 CA 80.00 01-May-2005 380,000.00 378,743.12
GROUP IV 0110444470 CA 65.73 01-Apr-2005 269,500.00 269,500.00
GROUP IV 0110444565 MN 80.00 01-Apr-2005 151,200.00 151,200.00
GROUP IV 0110450755 CA 52.63 01-May-2005 300,000.00 300,000.00
GROUP IV 0110450956 CA 80.00 01-May-2005 500,000.00 500,000.00
Prepayment Loan Detail - Prepayments during Current Period (continued)
Current
Loan PIF Months Loan Original
Group Number Type Delinquent Rate Term Seasoning
<s> <c> <c> <c> <c> <c> <c>
GROUP I 0110440436 Loan Paid in Full 0 9.750% 180 4
GROUP I 0110441182 Loan Paid in Full 0 10.520% 180 4
GROUP I 0110443990 Loan Paid in Full 0 10.990% 180 3
GROUP I 0110450560 Loan Paid in Full 0 11.100% 180 3
GROUP I 0110450576 Loan Paid in Full 0 9.990% 180 3
GROUP I 0110450832 Loan Paid in Full 0 10.250% 180 3
GROUP I 0110451802 Loan Paid in Full 0 9.990% 180 3
GROUP II 0110440437 Loan Paid in Full 0 7.380% 360 4
GROUP II 0110440636 Loan Paid in Full 1 8.400% 360 4
GROUP II 0110440647 Loan Paid in Full 0 7.750% 360 4
GROUP II 0110440867 Loan Paid in Full 0 6.800% 360 4
GROUP II 0110440889 Loan Paid in Full 1 7.100% 360 5
GROUP II 0110441012 Loan Paid in Full 0 7.900% 360 4
GROUP II 0110441186 Loan Paid in Full 0 7.650% 360 4
GROUP II 0110441201 Loan Paid in Full 0 7.300% 360 4
GROUP II 0110441289 Loan Paid in Full 0 7.500% 360 5
GROUP II 0110444208 Loan Paid in Full 0 9.500% 360 3
GROUP II 0110444219 Loan Paid in Full 0 6.910% 360 3
GROUP II 0110444228 Loan Paid in Full 0 8.620% 360 3
GROUP II 0110444232 Loan Paid in Full 0 7.370% 360 3
GROUP II 0110444303 Loan Paid in Full 0 6.250% 360 3
GROUP II 0110444384 Loan Paid in Full (3) 6.270% 360 3
GROUP II 0110444423 Loan Paid in Full 0 6.470% 360 4
GROUP II 0110444599 Loan Paid in Full 0 7.500% 360 4
GROUP II 0110450563 Loan Paid in Full 0 7.520% 360 3
GROUP II 0110450579 Loan Paid in Full 0 7.720% 360 3
GROUP II 0110450608 Loan Paid in Full 0 7.390% 360 3
GROUP II 0110450836 Loan Paid in Full 0 6.770% 360 3
GROUP II 0110450917 Loan Paid in Full 0 7.920% 360 3
GROUP II 0110451159 Loan Paid in Full 0 8.270% 360 3
GROUP II 0110451415 Loan Paid in Full 0 8.850% 360 3
GROUP II 0110451517 Loan Paid in Full 0 6.990% 360 3
GROUP II 0110451719 Loan Paid in Full 0 8.720% 360 2
GROUP II 0110451770 Loan Paid in Full 0 7.700% 360 2
GROUP II 0110451803 Loan Paid in Full 0 6.990% 360 3
GROUP II 0110465481 Loan Paid in Full 0 8.520% 360 2
GROUP III 0110440299 Loan Paid in Full 1 10.250% 180 4
GROUP III 0110443899 Loan Paid in Full 0 9.990% 180 3
GROUP III 0110443932 Loan Paid in Full 0 8.990% 180 3
GROUP III 0110443975 Loan Paid in Full 0 10.240% 180 4
GROUP III 0110444100 Loan Paid in Full 0 9.900% 180 4
GROUP III 0110450607 Loan Paid in Full 0 9.990% 180 3
GROUP III 0110450916 Loan Paid in Full 0 9.700% 180 3
GROUP III 0110451495 Loan Paid in Full 0 10.470% 180 10
GROUP III 0110451515 Loan Paid in Full 0 10.650% 180 3
GROUP IV 0110440261 Loan Paid in Full 0 7.250% 360 4
GROUP IV 0110440300 Loan Paid in Full 1 6.990% 360 4
GROUP IV 0110440687 Loan Paid in Full 0 6.990% 360 4
GROUP IV 0110440951 Loan Paid in Full 0 7.500% 360 4
GROUP IV 0110444117 Loan Paid in Full 0 6.990% 360 3
GROUP IV 0110444433 Loan Paid in Full 0 6.020% 360 4
GROUP IV 0110444444 Loan Paid in Full 0 7.000% 360 3
GROUP IV 0110444470 Loan Paid in Full 0 5.470% 360 4
GROUP IV 0110444565 Loan Paid in Full 0 6.750% 360 4
GROUP IV 0110450755 Loan Paid in Full 0 6.500% 360 3
GROUP IV 0110450956 Loan Paid in Full 0 7.470% 360 3
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.790% Current Month 19.485% Current Month 2,917.918%
3 Month Average 1.614% 3 Month Average 17.632% 3 Month Average 3,959.503%
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 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
Aug-2005 19.485% N/A Aug-2005 2,917.918% 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 0.664% Current Month 7.681% Current Month 1,173.793%
3 Month Average 1.021% 3 Month Average 11.554% 3 Month Average 3,145.215%
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 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
Aug-2005 7.681% N/A Aug-2005 1,173.793% 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 1.942% Current Month 20.967% Current Month 3,150.417%
3 Month Average 1.665% 3 Month Average 18.152% 3 Month Average 4,100.933%
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 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
Aug-2005 20.967% N/A Aug-2005 3,150.417% 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 2.004% Current Month 21.569% Current Month 3,265.148%
3 Month Average 1.513% 3 Month Average 16.644% 3 Month Average 3,969.701%
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 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
Aug-2005 21.569% N/A Aug-2005 3,265.148% 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 1.792% Current Month 19.505% Current Month 2,887.958%
3 Month Average 1.692% 3 Month Average 18.259% 3 Month Average 3,906.534%
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 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
Aug-2005 19.505% N/A Aug-2005 2,887.958% 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>
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
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 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
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.
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>
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
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 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
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.
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>
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
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 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
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.
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>
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
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 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
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.
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>
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
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 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
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>