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): September 26, 2005
BANC OF AMERICA ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2005-1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-11
Pooling and Servicing Agreement) (Commission 54-2165628
(State or other File Number) 54-2165629
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 September 26, 2005 a distribution was made to holders of BANC OF AMERICA
ALTERNATIVE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2005-1
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 2005-1 Trust, relating to the
September 26, 2005 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BANC OF AMERICA ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2005-1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 9/26/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2005-1 Trust,
relating to the September 26, 2005 distribution.
EX-99.1
Banc of America Alternative Loan Trust
Mortgage Pass-Through Certificates
Record Date: 8/31/2005
Distribution Date: 9/26/2005
Banc of America Alternative Loan Trust
Mortgage Pass-Through Certificates
Series 2005-1
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>
1-CB-1 05949AK66 SEN 5.25000% 165,249,346.03 722,965.89
1-CB-R 05949AL32 SEN 5.50000% 0.00 0.00
1-CB-LR 05949AL40 SEN 5.50000% 0.00 0.00
1-CB-2 05949AK74 SEN 5.50000% 23,189,000.00 106,282.92
1-CB-3 05949AK82 SEN 5.50000% 0.00 34,426.95
1-CB-4 05949AK90 SEN 5.50000% 10,000,000.00 45,833.33
1-CB-5 05949AL24 SEN 5.50000% 4,639,000.00 21,262.08
CB-IO 05949AL57 SEN 5.50000% 0.00 63,771.08
2-A-1 05949AL99 SEN 5.50000% 39,771,843.79 182,287.62
30-PO 05949AL65 PO 0.00000% 261,727.43 0.00
15-IO 05949AL81 SEN 5.50000% 0.00 1,372.54
15-PO 05949AL73 PO 0.00000% 1,643,435.06 0.00
B-1 05949AM23 SUB 5.50000% 5,790,776.16 26,541.06
B-2 05949AM31 SUB 5.50000% 2,067,851.52 9,477.65
B-3 05949AM49 SUB 5.50000% 1,377,907.76 6,315.41
B-4 05949AM56 SUB 5.50000% 1,103,712.04 5,058.68
B-5 05949AM64 SUB 5.50000% 826,546.68 3,788.34
B-6 05949AM72 SUB 5.50000% 1,103,639.20 5,058.35
Totals 257,024,785.67 1,234,441.90
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-CB-1 4,270,447.92 0.00 160,978,898.11 4,993,413.81 0.00
1-CB-R 0.00 0.00 0.00 0.00 0.00
1-CB-LR 0.00 0.00 0.00 0.00 0.00
1-CB-2 0.00 0.00 23,189,000.00 106,282.92 0.00
1-CB-3 0.00 0.00 0.00 34,426.95 0.00
1-CB-4 0.00 0.00 10,000,000.00 45,833.33 0.00
1-CB-5 0.00 0.00 4,639,000.00 21,262.08 0.00
CB-IO 0.00 0.00 0.00 63,771.08 0.00
2-A-1 553,028.65 0.00 39,218,815.14 735,316.27 0.00
30-PO 687.06 0.00 261,040.38 687.06 0.00
15-IO 0.00 0.00 0.00 1,372.54 0.00
15-PO 29,100.59 0.00 1,614,334.48 29,100.59 0.00
B-1 8,688.45 0.00 5,782,087.72 35,229.51 0.00
B-2 3,102.59 0.00 2,064,748.93 12,580.24 0.00
B-3 2,067.40 0.00 1,375,840.36 8,382.81 0.00
B-4 1,656.00 0.00 1,102,056.03 6,714.68 0.00
B-5 1,240.15 0.00 825,306.54 5,028.49 0.00
B-6 1,655.89 0.00 1,101,983.30 6,714.24 0.00
Totals 4,871,674.70 0.00 252,153,110.99 6,106,116.60 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>
1-CB-1 183,469,000.00 165,249,346.03 211,567.81 4,058,880.10 0.00 0.00
1-CB-R 50.00 0.00 0.00 0.00 0.00 0.00
1-CB-LR 50.00 0.00 0.00 0.00 0.00 0.00
1-CB-2 23,189,000.00 23,189,000.00 0.00 0.00 0.00 0.00
1-CB-3 0.00 0.00 0.00 0.00 0.00 0.00
1-CB-4 10,000,000.00 10,000,000.00 0.00 0.00 0.00 0.00
1-CB-5 4,639,000.00 4,639,000.00 0.00 0.00 0.00 0.00
CB-IO 0.00 0.00 0.00 0.00 0.00 0.00
2-A-1 42,857,000.00 39,771,843.79 152,052.31 400,976.35 0.00 0.00
30-PO 272,074.89 261,727.43 302.20 384.86 0.00 0.00
15-IO 0.00 0.00 0.00 0.00 0.00 0.00
15-PO 1,719,983.14 1,643,435.06 6,454.42 22,646.16 0.00 0.00
B-1 5,850,000.00 5,790,776.16 8,688.45 0.00 0.00 0.00
B-2 2,089,000.00 2,067,851.52 3,102.59 0.00 0.00 0.00
B-3 1,392,000.00 1,377,907.76 2,067.40 0.00 0.00 0.00
B-4 1,115,000.00 1,103,712.04 1,656.00 0.00 0.00 0.00
B-5 835,000.00 826,546.68 1,240.15 0.00 0.00 0.00
B-6 1,114,926.00 1,103,639.20 1,655.89 0.00 0.00 0.00
Totals 278,542,084.03 257,024,785.67 388,787.22 4,482,887.47 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>
1-CB-1 4,270,447.92 160,978,898.11 0.87741743 4,270,447.92
1-CB-R 0.00 0.00 0.00000000 0.00
1-CB-LR 0.00 0.00 0.00000000 0.00
1-CB-2 0.00 23,189,000.00 1.00000000 0.00
1-CB-3 0.00 0.00 0.00000000 0.00
1-CB-4 0.00 10,000,000.00 1.00000000 0.00
1-CB-5 0.00 4,639,000.00 1.00000000 0.00
CB-IO 0.00 0.00 0.00000000 0.00
2-A-1 553,028.65 39,218,815.14 0.91510874 553,028.65
30-PO 687.06 261,040.38 0.95944312 687.06
15-IO 0.00 0.00 0.00000000 0.00
15-PO 29,100.59 1,614,334.48 0.93857576 29,100.59
B-1 8,688.45 5,782,087.72 0.98839106 8,688.45
B-2 3,102.59 2,064,748.93 0.98839106 3,102.59
B-3 2,067.40 1,375,840.36 0.98839106 2,067.40
B-4 1,656.00 1,102,056.03 0.98839106 1,656.00
B-5 1,240.15 825,306.54 0.98839107 1,240.15
B-6 1,655.89 1,101,983.30 0.98839143 1,655.89
Totals 4,871,674.70 252,153,110.99 0.90526037 4,871,674.70
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>
1-CB-1 183,469,000.00 900.69355602 1.15315290 22.12297500 0.00000000
1-CB-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-LR 50.00 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-2 23,189,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-CB-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-4 10,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-CB-5 4,639,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CB-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 42,857,000.00 928.01278181 3.54789906 9.35614602 0.00000000
30-PO 272,074.89 961.96833894 1.11072360 1.41453700 0.00000000
15-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
15-PO 1,719,983.14 955.49486607 3.75260655 13.16650116 0.00000000
B-1 5,850,000.00 989.87626667 1.48520513 0.00000000 0.00000000
B-2 2,089,000.00 989.87626616 1.48520345 0.00000000 0.00000000
B-3 1,392,000.00 989.87626437 1.48520115 0.00000000 0.00000000
B-4 1,115,000.00 989.87626906 1.48520179 0.00000000 0.00000000
B-5 835,000.00 989.87626347 1.48520958 0.00000000 0.00000000
B-6 1,114,926.00 989.87663755 1.48520171 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>
1-CB-1 0.00000000 23.27612796 877.41742807 0.87741743 23.27612796
1-CB-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-CB-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-CB-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CB-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 0.00000000 12.90404485 915.10873696 0.91510874 12.90404485
30-PO 0.00000000 2.52526060 959.44311509 0.95944312 2.52526060
15-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
15-PO 0.00000000 16.91911352 938.57575836 0.93857576 16.91911352
B-1 0.00000000 1.48520513 988.39106325 0.98839106 1.48520513
B-2 0.00000000 1.48520345 988.39106271 0.98839106 1.48520345
B-3 0.00000000 1.48520115 988.39106322 0.98839106 1.48520115
B-4 0.00000000 1.48520179 988.39105830 0.98839106 1.48520179
B-5 0.00000000 1.48520958 988.39106587 0.98839107 1.48520958
B-6 0.00000000 1.48520171 988.39142687 0.98839143 1.48520171
<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>
1-CB-1 183,469,000.00 5.25000% 165,249,346.03 722,965.89 0.00 0.00
1-CB-R 50.00 5.50000% 0.00 0.00 0.00 0.00
1-CB-LR 50.00 5.50000% 0.00 0.00 0.00 0.00
1-CB-2 23,189,000.00 5.50000% 23,189,000.00 106,282.92 0.00 0.00
1-CB-3 0.00 5.50000% 7,511,333.91 34,426.95 0.00 0.00
1-CB-4 10,000,000.00 5.50000% 10,000,000.00 45,833.33 0.00 0.00
1-CB-5 4,639,000.00 5.50000% 4,639,000.00 21,262.08 0.00 0.00
CB-IO 0.00 5.50000% 13,913,689.28 63,771.08 0.00 0.00
2-A-1 42,857,000.00 5.50000% 39,771,843.79 182,287.62 0.00 0.00
30-PO 272,074.89 0.00000% 261,727.43 0.00 0.00 0.00
15-IO 0.00 5.50000% 299,463.39 1,372.54 0.00 0.00
15-PO 1,719,983.14 0.00000% 1,643,435.06 0.00 0.00 0.00
B-1 5,850,000.00 5.50000% 5,790,776.16 26,541.06 0.00 0.00
B-2 2,089,000.00 5.50000% 2,067,851.52 9,477.65 0.00 0.00
B-3 1,392,000.00 5.50000% 1,377,907.76 6,315.41 0.00 0.00
B-4 1,115,000.00 5.50000% 1,103,712.04 5,058.68 0.00 0.00
B-5 835,000.00 5.50000% 826,546.68 3,788.34 0.00 0.00
B-6 1,114,926.00 5.50000% 1,103,639.20 5,058.35 0.00 0.00
Totals 278,542,084.03 1,234,441.90 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>
1-CB-1 0.00 0.00 722,965.89 0.00 160,978,898.11
1-CB-R 0.00 0.00 0.00 0.00 0.00
1-CB-LR 0.00 0.00 0.00 0.00 0.00
1-CB-2 0.00 0.00 106,282.92 0.00 23,189,000.00
1-CB-3 0.00 0.00 34,426.95 0.00 7,317,222.64
1-CB-4 0.00 0.00 45,833.33 0.00 10,000,000.00
1-CB-5 0.00 0.00 21,262.08 0.00 4,639,000.00
CB-IO 0.00 0.00 63,771.08 0.00 13,589,062.60
2-A-1 0.00 0.00 182,287.62 0.00 39,218,815.14
30-PO 0.00 0.00 0.00 0.00 261,040.38
15-IO 0.00 0.00 1,372.54 0.00 296,177.93
15-PO 0.00 0.00 0.00 0.00 1,614,334.48
B-1 0.00 0.00 26,541.06 0.00 5,782,087.72
B-2 0.00 0.00 9,477.65 0.00 2,064,748.93
B-3 0.00 0.00 6,315.41 0.00 1,375,840.36
B-4 0.00 0.00 5,058.68 0.00 1,102,056.03
B-5 0.00 0.00 3,788.34 0.00 825,306.54
B-6 0.00 0.00 5,058.35 0.00 1,101,983.30
Totals 0.00 0.00 1,234,441.90 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>
1-CB-1 183,469,000.00 5.25000% 900.69355602 3.94053431 0.00000000 0.00000000
1-CB-R 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-LR 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-2 23,189,000.00 5.50000% 1000.00000000 4.58333348 0.00000000 0.00000000
1-CB-3 0.00 5.50000% 900.69355597 4.12817915 0.00000000 0.00000000
1-CB-4 10,000,000.00 5.50000% 1000.00000000 4.58333300 0.00000000 0.00000000
1-CB-5 4,639,000.00 5.50000% 1000.00000000 4.58333261 0.00000000 0.00000000
CB-IO 0.00 5.50000% 891.78396519 4.08734344 0.00000000 0.00000000
2-A-1 42,857,000.00 5.50000% 928.01278181 4.25339198 0.00000000 0.00000000
30-PO 272,074.89 0.00000% 961.96833894 0.00000000 0.00000000 0.00000000
15-IO 0.00 5.50000% 819.95436827 3.75812272 0.00000000 0.00000000
15-PO 1,719,983.14 0.00000% 955.49486607 0.00000000 0.00000000 0.00000000
B-1 5,850,000.00 5.50000% 989.87626667 4.53693333 0.00000000 0.00000000
B-2 2,089,000.00 5.50000% 989.87626616 4.53693155 0.00000000 0.00000000
B-3 1,392,000.00 5.50000% 989.87626437 4.53693247 0.00000000 0.00000000
B-4 1,115,000.00 5.50000% 989.87626906 4.53693274 0.00000000 0.00000000
B-5 835,000.00 5.50000% 989.87626347 4.53693413 0.00000000 0.00000000
B-6 1,114,926.00 5.50000% 989.87663755 4.53693788 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>
1-CB-1 0.00000000 0.00000000 3.94053431 0.00000000 877.41742807
1-CB-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-2 0.00000000 0.00000000 4.58333348 0.00000000 1000.00000000
1-CB-3 0.00000000 0.00000000 4.12817915 0.00000000 877.41742790
1-CB-4 0.00000000 0.00000000 4.58333300 0.00000000 1000.00000000
1-CB-5 0.00000000 0.00000000 4.58333261 0.00000000 1000.00000000
CB-IO 0.00000000 0.00000000 4.08734344 0.00000000 870.97734359
2-A-1 0.00000000 0.00000000 4.25339198 0.00000000 915.10873696
30-PO 0.00000000 0.00000000 0.00000000 0.00000000 959.44311509
15-IO 0.00000000 0.00000000 3.75812272 0.00000000 810.95851980
15-PO 0.00000000 0.00000000 0.00000000 0.00000000 938.57575836
B-1 0.00000000 0.00000000 4.53693333 0.00000000 988.39106325
B-2 0.00000000 0.00000000 4.53693155 0.00000000 988.39106271
B-3 0.00000000 0.00000000 4.53693247 0.00000000 988.39106322
B-4 0.00000000 0.00000000 4.53693274 0.00000000 988.39105830
B-5 0.00000000 0.00000000 4.53693413 0.00000000 988.39106587
B-6 0.00000000 0.00000000 4.53693788 0.00000000 988.39142687
<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 6,161,912.40
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
Total Deposits 6,161,912.40
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 55,795.80
Payment of Interest and Principal 6,106,116.60
Total Withdrawals (Pool Distribution Amount) 6,161,912.40
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 53,546.83
Trustee Fee: Wells Fargo Bank, N.A. 2,248.97
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 55,795.80
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 3 0 0 3
556,712.05 0.00 0.00 556,712.05
30 Days 6 0 0 0 6
1,078,255.57 0.00 0.00 0.00 1,078,255.57
60 Days 1 0 0 0 1
202,851.14 0.00 0.00 0.00 202,851.14
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 7 3 0 0 10
1,281,106.71 556,712.05 0.00 0.00 1,837,818.76
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 0.160256% 0.000000% 0.000000% 0.160256%
0.220508% 0.000000% 0.000000% 0.220508%
30 Days 0.320513% 0.000000% 0.000000% 0.000000% 0.320513%
0.427087% 0.000000% 0.000000% 0.000000% 0.427087%
60 Days 0.053419% 0.000000% 0.000000% 0.000000% 0.053419%
0.080347% 0.000000% 0.000000% 0.000000% 0.080347%
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 0.373932% 0.160256% 0.000000% 0.000000% 0.534188%
0.507435% 0.220508% 0.000000% 0.000000% 0.727943%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 3 0 0 3
556,712.05 0.00 0.00 556,712.05
30 Days 4 0 0 0 4
545,535.67 0.00 0.00 0.00 545,535.67
60 Days 1 0 0 0 1
202,851.14 0.00 0.00 0.00 202,851.14
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 3 0 0 8
748,386.81 556,712.05 0.00 0.00 1,305,098.86
0-29 Days 0.202020% 0.000000% 0.000000% 0.202020%
0.265761% 0.000000% 0.000000% 0.265761%
30 Days 0.269360% 0.000000% 0.000000% 0.000000% 0.269360%
0.260425% 0.000000% 0.000000% 0.000000% 0.260425%
60 Days 0.067340% 0.000000% 0.000000% 0.000000% 0.067340%
0.096836% 0.000000% 0.000000% 0.000000% 0.096836%
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 0.336700% 0.202020% 0.000000% 0.000000% 0.538721%
0.357261% 0.265761% 0.000000% 0.000000% 0.623022%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 2 0 0 0 2
532,719.90 0.00 0.00 0.00 532,719.90
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 2 0 0 0 2
532,719.90 0.00 0.00 0.00 532,719.90
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.516796% 0.000000% 0.000000% 0.000000% 0.516796%
1.239212% 0.000000% 0.000000% 0.000000% 1.239212%
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 0.516796% 0.000000% 0.000000% 0.000000% 0.516796%
1.239212% 0.000000% 0.000000% 0.000000% 1.239212%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 8,879.61
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 Oct-04 0.000%
Original Principal Balance 0.00 Nov-04 0.000%
Current Principal Balance 0.00 Dec-04 0.000%
Jan-05 0.000%
Current REO Total Feb-05 0.000%
Loans in REO 0 Mar-05 0.000%
Original Principal Balance 0.00 Apr-05 0.000%
Current Principal Balance 0.00 May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Oct-04 0.000%
Original Principal Balance 0.00 Nov-04 0.000%
Current Principal Balance 0.00 Dec-04 0.000%
Jan-05 0.000%
Current REO Total Feb-05 0.000%
Loans in REO 0 Mar-05 0.000%
Original Principal Balance 0.00 Apr-05 0.000%
Current Principal Balance 0.00 May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
2 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Oct-04 0.000%
Original Principal Balance 0.00 Nov-04 0.000%
Current Principal Balance 0.00 Dec-04 0.000%
Jan-05 0.000%
Current REO Total Feb-05 0.000%
Loans in REO 0 Mar-05 0.000%
Original Principal Balance 0.00 Apr-05 0.000%
Current Principal Balance 0.00 May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-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 Oct-04 0.000%
Original Principal Balance 0.00 Nov-04 0.000%
Current Principal Balance 0.00 Dec-04 0.000%
Jan-05 0.000%
Current Foreclosure Total Feb-05 0.000%
Loans in Foreclosure 0 Mar-05 0.000%
Original Principal Balance 0.00 Apr-05 0.000%
Current Principal Balance 0.00 May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Oct-04 0.000%
Original Principal Balance 0.00 Nov-04 0.000%
Current Principal Balance 0.00 Dec-04 0.000%
Jan-05 0.000%
Current Foreclosure Total Feb-05 0.000%
Loans in Foreclosure 0 Mar-05 0.000%
Original Principal Balance 0.00 Apr-05 0.000%
Current Principal Balance 0.00 May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
2 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Oct-04 0.000%
Original Principal Balance 0.00 Nov-04 0.000%
Current Principal Balance 0.00 Dec-04 0.000%
Jan-05 0.000%
Current Foreclosure Total Feb-05 0.000%
Loans in Foreclosure 0 Mar-05 0.000%
Original Principal Balance 0.00 Apr-05 0.000%
Current Principal Balance 0.00 May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
COLLATERAL STATEMENT
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 6.023875%
Weighted Average Pass-Through Rate 5.763375%
Weighted Average Maturity(Stepdown Calculation) 321
Beginning Scheduled Collateral Loan Count 1,904
Number Of Loans Paid In Full 32
Ending Scheduled Collateral Loan Count 1,872
Beginning Scheduled Collateral Balance 257,024,785.68
Ending Scheduled Collateral Balance 252,153,110.98
Ending Actual Collateral Balance at 31-Aug-2005 252,467,389.01
Monthly P&I Constant 1,679,024.78
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 6,001,678.98
Class AP Deferred Amount 0.00
Scheduled Principal 388,787.23
Unscheduled Principal 4,482,887.47
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15 & 30 Year Fixed 15 & 30 Year Mixed Fixed
Weighted Average Coupon Rate 6.112047 5.590331 6.023875
Weighted Average Net Rate 5.862047 5.340331 5.773875
Weighted Average Maturity 351 172 321
Beginning Loan Count 1,513 391 1,904
Loans Paid In Full 28 4 32
Ending Loan Count 1,485 387 1,872
Beginning Scheduled Balance 213,586,341.82 43,438,443.86 257,024,785.68
Ending Scheduled Balance 209,304,531.15 42,848,579.83 252,153,110.98
Record Date 08/31/2005 08/31/2005 08/31/2005
Principal And Interest Constant 1,310,420.51 368,604.27 1,679,024.78
Scheduled Principal 222,545.71 166,241.52 388,787.23
Unscheduled Principal 4,059,264.96 423,622.51 4,482,887.47
Scheduled Interest 1,087,874.80 202,362.75 1,290,237.55
Servicing Fees 44,497.15 9,049.68 53,546.83
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,868.88 380.09 2,248.97
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 1,041,508.77 192,932.98 1,234,441.75
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 5.851547 5.329831 5.763375
Miscellaneous Reporting
Group 1
CPR 20.586414%
Subordinate % 4.803603%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.196397%
Group 2
CPR 11.135317%
Subordinate % 4.840686%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.159314%
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 28 4,224,440.00 4,040,927.44 0 0.00 0.00
2 4 408,359.00 394,547.26 0 0.00 0.00
Total 32 4,632,799.00 4,435,474.70 0 0.00 0.00
Prepayment Detail - Prepayments during Current Period (continued)
Summary Substitution Loans Liquidated Loans Curtailments
Original Current Original Current
Principal Principal Principal Principal Curtailment
Group Count Balance Balance Count Balance Balance Amount
<s> <c> <c> <c> <c> <c> <c> <c>
1 0 0.00 0.00 0 0.00 0.00 47,251.13
2 0 0.00 0.00 0 0.00 0.00 30,605.84
Total 0 0.00 0.00 0 0.00 0.00 77,856.97
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 3300929175 FL 95.00 01-Jan-2005 190,000.00 188,180.04
1 3301051086 SC 52.75 01-Feb-2005 51,100.00 50,521.92
1 3301084228 FL 89.94 01-Jan-2005 166,400.00 164,949.00
1 3301114462 CA 80.00 01-Jan-2005 80,000.00 79,302.37
1 3301128397 FL 43.43 01-Feb-2005 77,230.00 76,618.64
1 3301181149 WA 80.00 01-Feb-2005 248,800.00 246,906.18
1 3301219949 MD 80.00 01-Jan-2005 242,400.00 240,255.95
1 6092249892 NC 80.00 01-Jan-2005 121,760.00 120,618.85
1 6111580699 LA 90.00 01-Feb-2005 82,800.00 82,189.64
1 6132065795 CA 74.28 01-Feb-2005 427,150.00 423,687.94
1 6148333484 NJ 80.00 01-Dec-2004 276,000.00 273,189.76
1 6171050443 WI 80.00 01-Feb-2005 188,800.00 187,304.64
1 6216524824 MD 90.00 01-Jan-2005 119,790.00 118,720.47
1 6337814211 WI 80.00 01-Dec-2004 101,200.00 100,193.41
1 6359810220 VA 90.00 01-Jan-2005 117,000.00 116,027.18
1 6435481376 CA 70.00 01-Jan-2005 241,500.00 239,270.00
1 6473696612 CT 69.74 01-Feb-2005 83,000.00 82,373.38
1 6476552689 FL 88.78 01-Feb-2005 95,000.00 94,222.79
1 6496412260 MD 80.00 01-Feb-2005 27,200.00 26,994.62
1 6548402822 PA 80.00 01-Jan-2005 88,000.00 87,095.25
1 6602515246 MA 48.00 01-Feb-2005 240,000.00 238,188.26
1 6636458140 AZ 79.95 01-Feb-2005 177,500.00 175,150.23
1 6660716520 FL 80.00 01-Feb-2005 43,600.00 43,278.58
1 6712958880 VA 90.00 01-Jan-2005 107,100.00 106,187.97
1 6755623425 WA 80.00 01-Feb-2005 265,600.00 112,027.86
1 6771312284 OK 90.00 01-Feb-2005 39,510.00 15,079.15
1 6778309846 PA 80.00 01-Feb-2005 76,000.00 75,412.44
1 6892638633 NY 58.82 01-Feb-2005 250,000.00 248,067.31
2 3301046219 CA 63.74 01-Jan-2005 189,959.00 183,712.75
2 3301115758 CA 42.85 01-Jan-2005 150,000.00 143,078.27
2 6039621872 KS 80.00 01-Jan-2005 23,200.00 22,467.46
2 6501054032 TN 80.00 01-Jan-2005 45,200.00 43,758.19
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 3300929175 Loan Paid in Full 0 5.750% 360 8
1 3301051086 Loan Paid in Full 0 6.250% 300 7
1 3301084228 Loan Paid in Full 0 6.250% 360 8
1 3301114462 Loan Paid in Full 0 6.250% 360 8
1 3301128397 Loan Paid in Full 0 6.125% 360 7
1 3301181149 Loan Paid in Full 0 6.375% 360 7
1 3301219949 Loan Paid in Full (1) 6.250% 360 8
1 6092249892 Loan Paid in Full 0 5.875% 360 8
1 6111580699 Loan Paid in Full 0 6.500% 360 7
1 6132065795 Loan Paid in Full 0 6.000% 360 7
1 6148333484 Loan Paid in Full 0 6.000% 360 9
1 6171050443 Loan Paid in Full 0 6.125% 360 7
1 6216524824 Loan Paid in Full 0 6.125% 360 8
1 6337814211 Loan Paid in Full 0 6.125% 360 9
1 6359810220 Loan Paid in Full 0 6.500% 360 8
1 6435481376 Loan Paid in Full 0 6.125% 360 8
1 6473696612 Loan Paid in Full 0 6.375% 360 7
1 6476552689 Loan Paid in Full 0 6.000% 360 7
1 6496412260 Loan Paid in Full (1) 6.375% 360 7
1 6548402822 Loan Paid in Full (1) 6.000% 360 8
1 6602515246 Loan Paid in Full 0 6.375% 360 7
1 6636458140 Loan Paid in Full (1) 6.125% 360 7
1 6660716520 Loan Paid in Full 0 6.500% 360 7
1 6712958880 Loan Paid in Full 0 6.375% 360 8
1 6755623425 Loan Paid in Full 0 6.625% 360 7
1 6771312284 Loan Paid in Full 0 6.375% 360 7
1 6778309846 Loan Paid in Full 0 6.250% 360 7
1 6892638633 Loan Paid in Full 0 6.250% 360 7
2 3301046219 Loan Paid in Full 0 5.500% 180 8
2 3301115758 Loan Paid in Full (1) 5.250% 180 8
2 6039621872 Loan Paid in Full (1) 6.000% 180 8
2 6501054032 Loan Paid in Full 0 5.875% 180 8
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.747% Current Month 19.060% Current Month 1,271.312%
3 Month Average 1.724% 3 Month Average 18.814% 3 Month Average 1,458.746%
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>
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 5.867% N/A Feb-2005 5,940.581% N/A
Mar-2005 6.405% N/A Mar-2005 2,155.414% N/A
Apr-2005 12.134% N/A Apr-2005 2,425.010% N/A
May-2005 6.979% N/A May-2005 996.275% N/A
Jun-2005 9.454% N/A Jun-2005 1,049.636% N/A
Jul-2005 16.375% N/A Jul-2005 1,488.454% N/A
Aug-2005 21.007% N/A Aug-2005 1,616.471% N/A
Sep-2005 19.060% N/A Sep-2005 1,271.312% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.903% Current Month 20.586% Current Month 1,370.743%
3 Month Average 1.861% 3 Month Average 20.174% 3 Month Average 1,564.526%
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>
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 5.860% N/A Feb-2005 5,808.078% N/A
Mar-2005 7.226% N/A Mar-2005 2,414.105% N/A
Apr-2005 12.493% N/A Apr-2005 2,485.328% N/A
May-2005 7.926% N/A May-2005 1,127.705% N/A
Jun-2005 9.935% N/A Jun-2005 1,100.275% N/A
Jul-2005 18.359% N/A Jul-2005 1,665.508% N/A
Aug-2005 21.578% N/A Aug-2005 1,657.329% N/A
Sep-2005 20.586% N/A Sep-2005 1,370.743% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.979% Current Month 11.135% Current Month 748.999%
3 Month Average 1.044% 3 Month Average 11.697% 3 Month Average 897.199%
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>
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 5.900% N/A Feb-2005 6,696.789% N/A
Mar-2005 2.202% N/A Mar-2005 768.961% N/A
Apr-2005 10.323% N/A Apr-2005 2,111.427% N/A
May-2005 2.116% N/A May-2005 307.250% N/A
Jun-2005 7.020% N/A Jun-2005 789.551% N/A
Jul-2005 5.823% N/A Jul-2005 534.393% N/A
Aug-2005 18.134% N/A Aug-2005 1,408.206% N/A
Sep-2005 11.135% N/A Sep-2005 748.999% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
1 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
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>
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-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>
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-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>
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-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>
Oct-2004 N/A N/A Oct-2004 N/A N/A
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% N/A
Apr-2005 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-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>