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 MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2005-E Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-22
Pooling and Servicing Agreement) (Commission 54-2173207
(State or other File Number) 54-2173208
jurisdiction 54-2173209
of Incorporation) 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
MORTGAGE SECURITIES, INC., Mortgage Pass-Through Certificates, Series 2005-E
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-E 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 MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2005-E 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-E Trust,
relating to the August 25, 2005 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 7/29/2005
Distribution Date: 8/25/2005
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Series BOAMS2005-E
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
1A1 05949A5Z9 SEN 4.37543% 32,076,585.93 115,143.09
1A2 05949A6A3 SEN 4.37543% 1,262,850.39 4,533.17
1AR 05949A6B1 SEN 4.35252% 0.00 0.00
2A1 05949A6C9 SEN 4.99512% 68,344,737.35 284,492.02
2A2 05949A6D7 SEN 4.99512% 87,884,958.00 365,830.20
2A3 05949A6E5 SEN 4.66512% 40,700,000.00 158,225.45
2A4 05949A6F2 SEN 4.70012% 67,109,000.00 262,850.50
2A5 05949A6G0 SEN 4.77512% 43,690,000.00 173,854.30
2A6 05949A6H8 SEN 4.73012% 43,891,000.00 173,008.22
2A7 05949A6J4 SEN 4.63012% 88,042,000.00 339,704.46
2IO 05949A6K1 SEN 0.30556% 0.00 72,172.00
3A1 05949A6L9 SEN 5.28788% 28,014,340.52 123,447.18
4A1 05949A6M7 SEN 5.37251% 38,639,556.86 172,992.88
1IO 05949A6U9 SEN 0.54000% 0.00 15,612.66
B1 05949A6N5 SUB 4.99659% 12,053,354.41 50,137.71
B2 05949A6P0 SUB 4.99659% 3,443,530.04 14,323.87
B3 05949A6Q8 SUB 4.99659% 2,295,353.60 9,547.86
B4 05949A6R6 SUB 4.99659% 1,148,176.44 4,776.01
B5 05949A6S4 SUB 4.99659% 860,382.87 3,578.89
B6 05949A6T2 SUB 4.99659% 1,148,763.02 4,778.45
Totals 560,604,589.43 2,349,008.92
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1A1 2,119,775.36 0.00 29,956,810.57 2,234,918.45 0.00
1A2 83,455.24 0.00 1,179,395.15 87,988.41 0.00
1AR 0.00 0.00 0.00 0.00 0.00
2A1 1,689,297.01 0.00 66,655,440.33 1,973,789.03 0.00
2A2 9,177,950.67 0.00 78,707,007.33 9,543,780.87 0.00
2A3 0.00 0.00 40,700,000.00 158,225.45 0.00
2A4 0.00 0.00 67,109,000.00 262,850.50 0.00
2A5 0.00 0.00 43,690,000.00 173,854.30 0.00
2A6 0.00 0.00 43,891,000.00 173,008.22 0.00
2A7 0.00 0.00 88,042,000.00 339,704.46 0.00
2IO 0.00 0.00 0.00 72,172.00 0.00
3A1 939,701.63 0.00 27,074,638.89 1,063,148.81 0.00
4A1 1,515,095.94 0.00 37,124,460.92 1,688,088.82 0.00
1IO 0.00 0.00 0.00 15,612.66 0.00
B1 4,403.63 0.00 12,048,950.78 54,541.34 0.00
B2 1,258.08 0.00 3,442,271.96 15,581.95 0.00
B3 838.60 0.00 2,294,515.00 10,386.46 0.00
B4 419.48 0.00 1,147,756.96 5,195.49 0.00
B5 314.34 0.00 860,068.53 3,893.23 0.00
B6 419.69 0.00 1,148,343.32 5,198.14 0.00
Totals 15,532,929.67 0.00 545,071,659.74 17,881,938.59 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
This report has been compiled from information provided to Wells Fargo Bank, N.A. by various
third parties, which may include the Servicer, Master Servicer, Special Servicer and others.
Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received
from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly
disclaims any responsibility for the accuracy or completeness of information furnished by
third parties.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
1A1 34,468,000.00 32,076,585.93 17,807.03 2,101,968.32 0.00 0.00
1A2 1,357,000.00 1,262,850.39 701.06 82,754.18 0.00 0.00
1AR 100.00 0.00 0.00 0.00 0.00 0.00
2A1 70,000,000.00 68,344,737.35 23,858.83 1,665,438.18 0.00 0.00
2A2 96,878,000.00 87,884,958.00 129,625.05 9,048,325.62 0.00 0.00
2A3 40,700,000.00 40,700,000.00 0.00 0.00 0.00 0.00
2A4 67,109,000.00 67,109,000.00 0.00 0.00 0.00 0.00
2A5 43,690,000.00 43,690,000.00 0.00 0.00 0.00 0.00
2A6 43,891,000.00 43,891,000.00 0.00 0.00 0.00 0.00
2A7 88,042,000.00 88,042,000.00 0.00 0.00 0.00 0.00
2IO 0.00 0.00 0.00 0.00 0.00 0.00
3A1 28,190,000.00 28,014,340.52 14,356.72 925,344.91 0.00 0.00
4A1 39,070,000.00 38,639,556.86 10,537.84 1,504,558.10 0.00 0.00
1IO 0.00 0.00 0.00 0.00 0.00 0.00
B1 12,062,000.00 12,053,354.41 4,403.63 0.00 0.00 0.00
B2 3,446,000.00 3,443,530.04 1,258.08 0.00 0.00 0.00
B3 2,297,000.00 2,295,353.60 838.60 0.00 0.00 0.00
B4 1,149,000.00 1,148,176.44 419.48 0.00 0.00 0.00
B5 861,000.00 860,382.87 314.34 0.00 0.00 0.00
B6 1,149,587.00 1,148,763.02 419.69 0.00 0.00 0.00
Totals 574,359,687.00 560,604,589.43 204,540.35 15,328,389.31 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
1A1 2,119,775.36 29,956,810.57 0.86911949 2,119,775.36
1A2 83,455.24 1,179,395.15 0.86911949 83,455.24
1AR 0.00 0.00 0.00000000 0.00
2A1 1,689,297.01 66,655,440.33 0.95222058 1,689,297.01
2A2 9,177,950.67 78,707,007.33 0.81243427 9,177,950.67
2A3 0.00 40,700,000.00 1.00000000 0.00
2A4 0.00 67,109,000.00 1.00000000 0.00
2A5 0.00 43,690,000.00 1.00000000 0.00
2A6 0.00 43,891,000.00 1.00000000 0.00
2A7 0.00 88,042,000.00 1.00000000 0.00
2IO 0.00 0.00 0.00000000 0.00
3A1 939,701.63 27,074,638.89 0.96043416 939,701.63
4A1 1,515,095.94 37,124,460.92 0.95020376 1,515,095.94
1IO 0.00 0.00 0.00000000 0.00
B1 4,403.63 12,048,950.78 0.99891815 4,403.63
B2 1,258.08 3,442,271.96 0.99891815 1,258.08
B3 838.60 2,294,515.00 0.99891815 838.60
B4 419.48 1,147,756.96 0.99891815 419.48
B5 314.34 860,068.53 0.99891815 314.34
B6 419.69 1,148,343.32 0.99891815 419.69
Totals 15,532,929.67 545,071,659.74 0.94900752 15,532,929.67
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>
1A1 34,468,000.00 930.61929703 0.51662499 60.98318208 0.00000000
1A2 1,357,000.00 930.61929993 0.51662491 60.98318349 0.00000000
1AR 100.00 0.00000000 0.00000000 0.00000000 0.00000000
2A1 70,000,000.00 976.35339071 0.34084043 23.79197400 0.00000000
2A2 96,878,000.00 907.17147340 1.33802360 93.39917855 0.00000000
2A3 40,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2A4 67,109,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2A5 43,690,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2A6 43,891,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2A7 88,042,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
3A1 28,190,000.00 993.76873076 0.50928414 32.82528946 0.00000000
4A1 39,070,000.00 988.98277092 0.26971692 38.50929358 0.00000000
1IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B1 12,062,000.00 999.28323744 0.36508290 0.00000000 0.00000000
B2 3,446,000.00 999.28323854 0.36508416 0.00000000 0.00000000
B3 2,297,000.00 999.28323901 0.36508489 0.00000000 0.00000000
B4 1,149,000.00 999.28323760 0.36508268 0.00000000 0.00000000
B5 861,000.00 999.28324042 0.36508711 0.00000000 0.00000000
B6 1,149,587.00 999.28323824 0.36507894 0.00000000 0.00000000
<FN>
(2) All Classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
1A1 0.00000000 61.49980736 869.11948967 0.86911949 61.49980736
1A2 0.00000000 61.49980840 869.11949153 0.86911949 61.49980840
1AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2A1 0.00000000 24.13281443 952.22057614 0.95222058 24.13281443
2A2 0.00000000 94.73720215 812.43427125 0.81243427 94.73720215
2A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2A6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2A7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
3A1 0.00000000 33.33457361 960.43415715 0.96043416 33.33457361
4A1 0.00000000 38.77901049 950.20376043 0.95020376 38.77901049
1IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B1 0.00000000 0.36508290 998.91815453 0.99891815 0.36508290
B2 0.00000000 0.36508416 998.91815438 0.99891815 0.36508416
B3 0.00000000 0.36508489 998.91815411 0.99891815 0.36508489
B4 0.00000000 0.36508268 998.91815492 0.99891815 0.36508268
B5 0.00000000 0.36508711 998.91815331 0.99891815 0.36508711
B6 0.00000000 0.36507894 998.91815061 0.99891815 0.36507894
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1A1 34,468,000.00 4.37543% 32,076,585.93 116,957.45 0.00 0.00
1A2 1,357,000.00 4.37543% 1,262,850.39 4,604.60 0.00 0.00
1AR 100.00 4.35252% 0.00 0.00 0.00 0.00
2A1 70,000,000.00 4.99512% 68,344,737.35 284,492.02 0.00 0.00
2A2 96,878,000.00 4.99512% 87,884,958.00 365,830.20 0.00 0.00
2A3 40,700,000.00 4.66512% 40,700,000.00 158,225.45 0.00 0.00
2A4 67,109,000.00 4.70012% 67,109,000.00 262,850.50 0.00 0.00
2A5 43,690,000.00 4.77512% 43,690,000.00 173,854.30 0.00 0.00
2A6 43,891,000.00 4.73012% 43,891,000.00 173,008.22 0.00 0.00
2A7 88,042,000.00 4.63012% 88,042,000.00 339,704.46 0.00 0.00
2IO 0.00 0.30556% 283,432,000.00 72,172.00 0.00 0.00
3A1 28,190,000.00 5.28788% 28,014,340.52 123,447.18 0.00 0.00
4A1 39,070,000.00 5.37251% 38,639,556.86 172,992.88 0.00 0.00
1IO 0.00 0.54000% 34,694,796.03 15,612.66 0.00 0.00
B1 12,062,000.00 4.99659% 12,053,354.41 50,188.08 0.00 0.00
B2 3,446,000.00 4.99659% 3,443,530.04 14,338.26 0.00 0.00
B3 2,297,000.00 4.99659% 2,295,353.60 9,557.45 0.00 0.00
B4 1,149,000.00 4.99659% 1,148,176.44 4,780.81 0.00 0.00
B5 861,000.00 4.99659% 860,382.87 3,582.49 0.00 0.00
B6 1,149,587.00 4.99659% 1,148,763.02 4,783.25 0.00 0.00
Totals 574,359,687.00 2,350,982.26 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1A1 1,814.36 0.00 115,143.09 0.00 29,956,810.57
1A2 71.43 0.00 4,533.17 0.00 1,179,395.15
1AR 0.00 0.00 0.00 0.00 0.00
2A1 0.00 0.00 284,492.02 0.00 66,655,440.33
2A2 0.00 0.00 365,830.20 0.00 78,707,007.33
2A3 0.00 0.00 158,225.45 0.00 40,700,000.00
2A4 0.00 0.00 262,850.50 0.00 67,109,000.00
2A5 0.00 0.00 173,854.30 0.00 43,690,000.00
2A6 0.00 0.00 173,008.22 0.00 43,891,000.00
2A7 0.00 0.00 339,704.46 0.00 88,042,000.00
2IO 0.00 0.00 72,172.00 0.00 283,432,000.00
3A1 0.00 0.00 123,447.18 0.00 27,074,638.89
4A1 0.00 0.00 172,992.88 0.00 37,124,460.92
1IO 0.00 0.00 15,612.66 0.00 32,490,813.02
B1 50.37 0.00 50,137.71 0.00 12,048,950.78
B2 14.39 0.00 14,323.87 0.00 3,442,271.96
B3 9.59 0.00 9,547.86 0.00 2,294,515.00
B4 4.80 0.00 4,776.01 0.00 1,147,756.96
B5 3.60 0.00 3,578.89 0.00 860,068.53
B6 4.80 0.00 4,778.45 0.00 1,148,343.32
Totals 1,973.34 0.00 2,349,008.92 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1A1 34,468,000.00 4.37543% 930.61929703 3.39321835 0.00000000 0.00000000
1A2 1,357,000.00 4.37543% 930.61929993 3.39322034 0.00000000 0.00000000
1AR 100.00 4.35252% 0.00000000 0.00000000 0.00000000 0.00000000
2A1 70,000,000.00 4.99512% 976.35339071 4.06417171 0.00000000 0.00000000
2A2 96,878,000.00 4.99512% 907.17147340 3.77619480 0.00000000 0.00000000
2A3 40,700,000.00 4.66512% 1000.00000000 3.88760319 0.00000000 0.00000000
2A4 67,109,000.00 4.70012% 1000.00000000 3.91676973 0.00000000 0.00000000
2A5 43,690,000.00 4.77512% 1000.00000000 3.97926986 0.00000000 0.00000000
2A6 43,891,000.00 4.73012% 1000.00000000 3.94176984 0.00000000 0.00000000
2A7 88,042,000.00 4.63012% 1000.00000000 3.85843643 0.00000000 0.00000000
2IO 0.00 0.30556% 1000.00000000 0.25463603 0.00000000 0.00000000
3A1 28,190,000.00 5.28788% 993.76873076 4.37911245 0.00000000 0.00000000
4A1 39,070,000.00 5.37251% 988.98277092 4.42776760 0.00000000 0.00000000
1IO 0.00 0.54000% 933.10871741 0.41989897 0.00000000 0.00000000
B1 12,062,000.00 4.99659% 999.28323744 4.16084231 0.00000000 0.00000000
B2 3,446,000.00 4.99659% 999.28323854 4.16084156 0.00000000 0.00000000
B3 2,297,000.00 4.99659% 999.28323901 4.16084023 0.00000000 0.00000000
B4 1,149,000.00 4.99659% 999.28323760 4.16084421 0.00000000 0.00000000
B5 861,000.00 4.99659% 999.28324042 4.16084785 0.00000000 0.00000000
B6 1,149,587.00 4.99659% 999.28323824 4.16084211 0.00000000 0.00000000
<FN>
(5) All Classes are per $1,000 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1A1 0.05263897 0.00000000 3.34057938 0.00000000 869.11948967
1A2 0.05263817 0.00000000 3.34058217 0.00000000 869.11949153
1AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2A1 0.00000000 0.00000000 4.06417171 0.00000000 952.22057614
2A2 0.00000000 0.00000000 3.77619480 0.00000000 812.43427125
2A3 0.00000000 0.00000000 3.88760319 0.00000000 1000.00000000
2A4 0.00000000 0.00000000 3.91676973 0.00000000 1000.00000000
2A5 0.00000000 0.00000000 3.97926986 0.00000000 1000.00000000
2A6 0.00000000 0.00000000 3.94176984 0.00000000 1000.00000000
2A7 0.00000000 0.00000000 3.85843643 0.00000000 1000.00000000
2IO 0.00000000 0.00000000 0.25463603 0.00000000 1000.00000000
3A1 0.00000000 0.00000000 4.37911245 0.00000000 960.43415715
4A1 0.00000000 0.00000000 4.42776760 0.00000000 950.20376043
1IO 0.00000000 0.00000000 0.41989897 0.00000000 873.83309124
B1 0.00417592 0.00000000 4.15666639 0.00000000 998.91815453
B2 0.00417586 0.00000000 4.15666570 0.00000000 998.91815438
B3 0.00417501 0.00000000 4.15666522 0.00000000 998.91815411
B4 0.00417755 0.00000000 4.15666667 0.00000000 998.91815492
B5 0.00418118 0.00000000 4.15666667 0.00000000 998.91815331
B6 0.00417541 0.00000000 4.15666670 0.00000000 998.91815061
<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 18,003,980.35
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 18,003,980.35
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 122,041.76
Payment of Interest and Principal 17,881,938.59
Total Withdrawals (Pool Distribution Amount) 18,003,980.35
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 1,973.34
SERVICING FEES
<s> <c>
Gross Servicing Fee 120,406.66
Trustee Fee - Wells Fargo Bank, N.A. 1,635.10
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 122,041.76
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 5 0 0 0 5
2,197,383.87 0.00 0.00 0.00 2,197,383.87
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 5 0 0 0 5
2,197,383.87 0.00 0.00 0.00 2,197,383.87
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 0.479846% 0.000000% 0.000000% 0.000000% 0.479846%
0.403015% 0.000000% 0.000000% 0.000000% 0.403015%
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 0.479846% 0.000000% 0.000000% 0.000000% 0.479846%
0.403015% 0.000000% 0.000000% 0.000000% 0.403015%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1-Three Year ARM No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2- Five Year ARM No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 5 0 0 0 5
2,197,383.87 0.00 0.00 0.00 2,197,383.87
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 5 0 0 0 5
2,197,383.87 0.00 0.00 0.00 2,197,383.87
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.585480% 0.000000% 0.000000% 0.000000% 0.585480%
0.492723% 0.000000% 0.000000% 0.000000% 0.492723%
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 0.585480% 0.000000% 0.000000% 0.000000% 0.585480%
0.492723% 0.000000% 0.000000% 0.000000% 0.492723%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
3- Seven Year ARM No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
4- Ten Year ARM No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 9,606.05
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-Three Year ARM 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- Five Year ARM 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- Seven Year ARM 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.
4- Ten Year ARM 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-Three Year ARM 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- Five Year ARM 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- Seven Year ARM 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.
4- Ten Year ARM 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 ARM
Weighted Average Gross Coupon 5.293621%
Weighted Average Net Coupon 5.035885%
Weighted Average Pass-Through Rate 5.032385%
Weighted Average Maturity(Stepdown Calculation) 356
Beginning Scheduled Collateral Loan Count 1,068
Number Of Loans Paid In Full 26
Ending Scheduled Collateral Loan Count 1,042
Beginning Scheduled Collateral Balance 560,604,590.33
Ending Scheduled Collateral Balance 545,071,660.66
Ending Actual Collateral Balance at 29-Jul-2005 545,236,415.17
Monthly P&I Constant 2,677,564.07
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 204,540.36
Unscheduled Principal 15,328,389.31
Miscellaneous Reporting
Total Senior Percentage 96.263042%
Aggregate Senior Percentage 3.736958%
Group Level Collateral Statement
Group 1-Three Year ARM 2- Five Year ARM 3- Seven Year ARM
Collateral Description 3 Year LIBOR Arm 5 Year LIBOR Arm 7 Year LIBOR Arm
Weighted Average Coupon Rate 5.293933 5.248623 5.541385
Weighted Average Net Rate 4.918933 4.998623 5.291385
Weighted Average Maturity 356 356 357
Beginning Loan Count 70 872 56
Loans Paid In Full 5 18 1
Ending Loan Count 65 854 55
Beginning Scheduled Balance 34,694,796.03 456,709,724.97 29,080,506.62
Ending Scheduled Balance 32,490,813.02 445,836,525.90 28,140,258.60
Record Date 07/29/2005 07/29/2005 07/29/2005
Principal And Interest Constant 172,320.44 2,157,016.24 149,191.69
Scheduled Principal 19,260.51 159,435.27 14,903.11
Unscheduled Principal 2,184,722.50 10,713,763.80 925,344.91
Scheduled Interest 153,059.93 1,997,580.97 134,288.58
Servicing Fees 10,842.12 95,147.86 6,058.44
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 101.19 1,332.07 84.82
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 142,116.62 1,901,101.04 128,145.32
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 4.915433 4.995123 5.287885
Group Level Collateral Statement
Group 4- Ten Year ARM Total
Collateral Description Mixed ARM Mixed ARM
Weighted Average Coupon Rate 5.626010 5.293621
Weighted Average Net Rate 5.376010 5.035885
Weighted Average Maturity 357 356
Beginning Loan Count 70 1,068
Loans Paid In Full 2 26
Ending Loan Count 68 1,042
Beginning Scheduled Balance 40,119,562.71 560,604,590.33
Ending scheduled Balance 38,604,063.14 545,071,660.66
Record Date 07/29/2005 07/29/2005
Principal And Interest Constant 199,035.70 2,677,564.07
Scheduled Principal 10,941.47 204,540.36
Unscheduled Principal 1,504,558.10 15,328,389.31
Scheduled Interest 188,094.23 2,473,023.71
Servicing Fees 8,358.24 120,406.66
Master Servicing Fees 0.00 0.00
Trustee Fee 117.02 1,635.10
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 0.00 0.00
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 0.00
Spread 2 0.00 0.00
Spread 3 0.00 0.00
Net Interest 179,618.97 2,350,981.95
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 5.372510 5.032385
Miscellaneous Reporting
Group 1-Three Year ARM
CPR 54.201756%
Subordinate Percentage 3.906521%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.093479%
Group 2- Five Year ARM
CPR 24.795422%
Subordinate Percentage 3.732793%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.267207%
Group 3- Seven Year ARM
CPR 32.175770%
Subordinate Percentage 3.666256%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.333744%
Miscellaneous Reporting
Group 4- Ten Year ARM
CPR 36.796168%
Subordinate Percentage 3.688987%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.311013%
Prepayment Detail - Prepayments during Current Period
Summary Loans Paid In Full Repurchased Loans
Original Current Original Current
Principal Principal Principal Principal
Group Count Balance Balance Count Balance Balance
<s> <c> <c> <c> <c> <c> <c>
1-Three Year ARM 5 2,111,895.00 2,107,607.13 0 0.00 0.00
2- Five Year ARM 18 10,073,370.00 9,955,325.50 0 0.00 0.00
3- Seven Year ARM 1 650,000.00 650,000.00 0 0.00 0.00
4- Ten Year ARM 2 1,500,000.00 1,499,482.56 0 0.00 0.00
Total 26 14,335,265.00 14,212,415.19 0 0.00 0.00
Prepayment Detail - Prepayments during Current Period (continued)
Summary Substitution Loans Liquidated Loans Curtailments
Original Current Original Current
Principal Principal Principal Principal Curtailment
Group Count Balance Balance Count Balance Balance Amount
<s> <c> <c> <c> <c> <c> <c> <c>
1-Three Year ARM 0 0.00 0.00 0 0.00 0.00 78,526.25
2- Five Year ARM 0 0.00 0.00 0 0.00 0.00 765,446.99
3- Seven Year ARM 0 0.00 0.00 0 0.00 0.00 275,344.91
4- Ten Year ARM 0 0.00 0.00 0 0.00 0.00 5,075.54
Total 0 0.00 0.00 0 0.00 0.00 1,124,393.69
Prepayment Loan Detail - Prepayments during Current Period
First Original
Loan LTV at Payment Principal Prepayment
Group Number State Origination Date Balance Amount
<s> <c> <c> <c> <c> <c> <c>
1-Three Year ARM 3301666487 TX 54.80 01-May-2005 509,675.00 507,266.09
1-Three Year ARM 6086801591 CA 75.00 01-Jun-2005 423,000.00 423,000.00
1-Three Year ARM 6154434135 FL 90.00 01-Jun-2005 382,500.00 382,500.00
1-Three Year ARM 6180669498 CA 80.00 01-May-2005 380,000.00 377,931.47
1-Three Year ARM 6452700781 FL 80.00 01-Jun-2005 416,720.00 415,498.69
2- Five Year ARM 6094260053 CA 80.00 01-May-2005 720,000.00 710,000.00
2- Five Year ARM 6145295975 CA 70.00 01-May-2005 490,000.00 490,000.00
2- Five Year ARM 6184272133 CA 59.12 01-Jun-2005 700,000.00 600,000.00
2- Five Year ARM 6225554630 CA 80.00 01-Jun-2005 436,720.00 435,026.99
2- Five Year ARM 6245941288 CA 80.00 01-May-2005 380,800.00 379,198.20
2- Five Year ARM 6255550508 CA 80.00 01-Jun-2005 380,000.00 380,000.00
2- Five Year ARM 6306289023 MI 79.68 01-Jun-2005 597,600.00 597,600.00
2- Five Year ARM 6379595991 IL 80.00 01-May-2005 432,000.00 430,182.84
2- Five Year ARM 6443319204 CA 80.00 01-May-2005 564,000.00 564,000.00
2- Five Year ARM 6481070768 CA 63.63 01-Jun-2005 700,000.00 697,848.44
2- Five Year ARM 6506933529 AZ 80.00 01-May-2005 380,000.00 379,864.53
2- Five Year ARM 6521968120 CA 45.19 01-May-2005 1,175,000.00 1,175,000.00
2- Five Year ARM 6676364182 CA 72.88 01-Jun-2005 430,000.00 430,000.00
2- Five Year ARM 6725250713 FL 85.92 01-May-2005 400,000.00 398,020.62
2- Five Year ARM 6752732880 CA 80.00 01-Jun-2005 692,000.00 692,000.00
2- Five Year ARM 6936623351 CA 80.00 01-Jun-2005 720,000.00 716,478.43
2- Five Year ARM 6945827761 VA 95.00 01-May-2005 375,250.00 375,250.00
2- Five Year ARM 6966595024 MI 71.22 01-May-2005 500,000.00 497,846.76
3- Seven Year ARM 6559121725 AZ 56.03 01-May-2005 650,000.00 650,000.00
4- Ten Year ARM 6192016746 MO 70.00 01-Jun-2005 420,000.00 420,000.00
4- Ten Year ARM 6682616013 CA 66.87 01-Apr-2005 1,080,000.00 1,079,482.56
Prepayment Loan Detail - Prepayments during Current Period (continued)
Current
Loan PIF Months Loan Original
Group Number Type Delinquent Rate Term Seasoning
<s> <c> <c> <c> <c> <c> <c>
1-Three Year ARM 3301666487 Loan Paid in Full 0 5.125% 360 3
1-Three Year ARM 6086801591 Loan Paid in Full 0 5.750% 360 2
1-Three Year ARM 6154434135 Loan Paid in Full 0 5.625% 360 2
1-Three Year ARM 6180669498 Loan Paid in Full 0 5.875% 360 3
1-Three Year ARM 6452700781 Loan Paid in Full 0 6.125% 360 2
2- Five Year ARM 6094260053 Loan Paid in Full 0 5.500% 360 3
2- Five Year ARM 6145295975 Loan Paid in Full 0 5.875% 360 3
2- Five Year ARM 6184272133 Loan Paid in Full 0 5.750% 360 2
2- Five Year ARM 6225554630 Loan Paid in Full 0 4.625% 360 2
2- Five Year ARM 6245941288 Loan Paid in Full 0 5.750% 360 3
2- Five Year ARM 6255550508 Loan Paid in Full 0 5.250% 360 2
2- Five Year ARM 6306289023 Loan Paid in Full 0 5.750% 360 2
2- Five Year ARM 6379595991 Loan Paid in Full 0 5.750% 360 3
2- Five Year ARM 6443319204 Loan Paid in Full (1) 5.500% 360 3
2- Five Year ARM 6481070768 Loan Paid in Full (1) 5.875% 360 2
2- Five Year ARM 6506933529 Loan Paid in Full 0 5.500% 360 3
2- Five Year ARM 6521968120 Loan Paid in Full 0 5.500% 360 3
2- Five Year ARM 6676364182 Loan Paid in Full (1) 6.375% 360 2
2- Five Year ARM 6725250713 Loan Paid in Full (1) 4.875% 360 3
2- Five Year ARM 6752732880 Loan Paid in Full 0 5.375% 360 2
2- Five Year ARM 6936623351 Loan Paid in Full 0 5.250% 360 2
2- Five Year ARM 6945827761 Loan Paid in Full 0 5.000% 360 3
2- Five Year ARM 6966595024 Loan Paid in Full 0 5.625% 360 3
3- Seven Year ARM 6559121725 Loan Paid in Full 0 5.875% 360 3
4- Ten Year ARM 6192016746 Loan Paid in Full 0 6.250% 360 2
4- Ten Year ARM 6682616013 Loan Paid in Full (1) 5.750% 360 4
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.735% Current Month 28.309% Current Month 5,692.199%
3 Month Average 1.691% 3 Month Average 18.195% 3 Month Average 7,388.283%
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 11.071% N/A Jun-2005 11,372.012% N/A
Jul-2005 15.206% N/A Jul-2005 5,100.639% N/A
Aug-2005 28.309% N/A Aug-2005 5,692.199% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1-Three Year ARM
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 6.300% Current Month 54.202% Current Month 11,469.370%
3 Month Average 4.328% 3 Month Average 39.969% 3 Month Average 20,063.973%
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 23.152% N/A Jun-2005 33,142.402% N/A
Jul-2005 42.554% N/A Jul-2005 15,580.148% N/A
Aug-2005 54.202% N/A Aug-2005 11,469.370% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2- Five Year ARM
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.347% Current Month 24.795% Current Month 5,075.299%
3 Month Average 1.524% 3 Month Average 16.639% 3 Month Average 7,543.199%
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 11.317% N/A Jun-2005 12,777.112% N/A
Jul-2005 13.805% N/A Jul-2005 4,777.186% N/A
Aug-2005 24.795% N/A Aug-2005 5,075.299% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
3- Seven Year ARM
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 3.184% Current Month 32.176% Current Month 6,449.777%
3 Month Average 1.229% 3 Month Average 12.702% 3 Month Average 3,850.810%
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 4.834% N/A Jun-2005 4,739.365% N/A
Jul-2005 1.097% N/A Jul-2005 363.288% N/A
Aug-2005 32.176% N/A Aug-2005 6,449.777% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
4- Ten Year ARM
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 3.751% Current Month 36.796% Current Month 5,950.192%
3 Month Average 1.587% 3 Month Average 16.097% 3 Month Average 2,907.641%
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 0.193% N/A Jun-2005 88.305% N/A
Jul-2005 11.302% N/A Jul-2005 2,684.427% N/A
Aug-2005 36.796% N/A Aug-2005 5,950.192% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
1-Three Year ARM 0 0.00 0.00 0.000%
2- Five Year ARM 0 0.00 0.00 0.000%
3- Seven Year ARM 0 0.00 0.00 0.000%
4- Ten Year ARM 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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.
1-Three Year ARM
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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.
2- Five Year ARM
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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.
3- Seven Year ARM
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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.
4- Ten Year ARM
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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>