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 2005-3 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-18
Pooling and Servicing Agreement) (Commission 54-2169430
(State or other File Number) 54-2169431
jurisdiction 54-6658761
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 September 26, 2005 a distribution was made to holders of BANC OF AMERICA
ALTERNATIVE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2005-3
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 2005-3 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 2005-3 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 2005-3 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 2005-3
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-3 05948KYM5 SEN 5.50000% 1,357,073.96 6,219.92
1-CB-1 05948KYK9 SEN 4.14125% 168,236,161.12 580,590.00
1-CB-2 05948KYL7 SEN 1.35875% 0.00 190,492.40
1-CB-4 05948KYN3 SEN 5.50000% 2,021,630.10 9,265.80
1-CB-R 05948KYP8 SEN 5.50000% 0.00 0.00
1-CB-LR 05948KYQ6 SEN 5.50000% 0.00 0.00
2-A-1 05948KYR4 SEN 5.50000% 40,532,471.78 185,773.83
A-IO 05948KYS2 SEN 5.50000% 0.00 55,058.60
A-PO 05948KYT0 PO 0.00000% 1,800,214.95 0.00
B1 05948KYU7 SUB 5.50000% 4,624,857.66 21,197.26
B2 05948KYV5 SUB 5.50000% 1,778,486.04 8,151.39
B3 05948KYW3 SUB 5.50000% 1,066,893.13 4,889.93
B4 05948KYX1 SUB 5.50000% 948,790.54 4,348.62
B5 05948KYY9 SUB 5.50000% 592,497.86 2,715.62
B6 05948KYZ6 SUB 5.50000% 949,439.19 4,351.60
Totals 223,908,516.33 1,073,054.97
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-3 20,330.32 0.00 1,336,743.65 26,550.24 0.00
1-CB-1 2,520,345.00 0.00 165,715,816.12 3,100,935.00 0.00
1-CB-2 0.00 0.00 0.00 190,492.40 0.00
1-CB-4 30,286.03 0.00 1,991,344.07 39,551.83 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
2-A-1 559,729.17 0.00 39,972,742.60 745,503.00 0.00
A-IO 0.00 0.00 0.00 55,058.60 0.00
A-PO 35,018.61 0.00 1,765,196.34 35,018.61 0.00
B1 7,159.75 0.00 4,617,697.90 28,357.01 0.00
B2 2,753.28 0.00 1,775,732.76 10,904.67 0.00
B3 1,651.66 0.00 1,065,241.47 6,541.59 0.00
B4 1,468.82 0.00 947,321.72 5,817.44 0.00
B5 917.25 0.00 591,580.61 3,632.87 0.00
B6 1,469.66 0.00 947,969.36 5,821.26 0.00
Totals 3,181,129.55 0.00 220,727,386.60 4,254,184.52 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-3 1,456,000.00 1,357,073.96 1,392.01 18,938.31 0.00 0.00
1-CB-1 180,500,000.00 168,236,161.12 172,566.82 2,347,778.18 0.00 0.00
1-CB-2 0.00 0.00 0.00 0.00 0.00 0.00
1-CB-4 2,169,000.00 2,021,630.10 2,073.67 28,212.36 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
2-A-1 42,893,000.00 40,532,471.78 151,923.91 407,805.26 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
A-PO 1,905,663.00 1,800,214.95 5,860.44 29,158.17 0.00 0.00
B1 4,660,000.00 4,624,857.66 7,159.75 0.00 0.00 0.00
B2 1,792,000.00 1,778,486.04 2,753.28 0.00 0.00 0.00
B3 1,075,000.00 1,066,893.13 1,651.66 0.00 0.00 0.00
B4 956,000.00 948,790.54 1,468.82 0.00 0.00 0.00
B5 597,000.00 592,497.86 917.25 0.00 0.00 0.00
B6 956,653.00 949,439.19 1,469.66 0.00 0.00 0.00
Totals 238,960,416.00 223,908,516.33 349,237.27 2,831,892.28 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-3 20,330.32 1,336,743.65 0.91809317 20,330.32
1-CB-1 2,520,345.00 165,715,816.12 0.91809316 2,520,345.00
1-CB-2 0.00 0.00 0.00000000 0.00
1-CB-4 30,286.03 1,991,344.07 0.91809316 30,286.03
1-CB-R 0.00 0.00 0.00000000 0.00
1-CB-LR 0.00 0.00 0.00000000 0.00
2-A-1 559,729.17 39,972,742.60 0.93191762 559,729.17
A-IO 0.00 0.00 0.00000000 0.00
A-PO 35,018.61 1,765,196.34 0.92628987 35,018.61
B1 7,159.75 4,617,697.90 0.99092230 7,159.75
B2 2,753.28 1,775,732.76 0.99092230 2,753.28
B3 1,651.66 1,065,241.47 0.99092230 1,651.66
B4 1,468.82 947,321.72 0.99092230 1,468.82
B5 917.25 591,580.61 0.99092229 917.25
B6 1,469.66 947,969.36 0.99092289 1,469.66
Totals 3,181,129.55 220,727,386.60 0.92369854 3,181,129.55
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-3 1,456,000.00 932.05629121 0.95605082 13.00708104 0.00000000
1-CB-1 180,500,000.00 932.05629429 0.95604886 13.00708133 0.00000000
1-CB-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-4 2,169,000.00 932.05629322 0.95604887 13.00708160 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
2-A-1 42,893,000.00 944.96705243 3.54192782 9.50750146 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-PO 1,905,663.00 944.66595091 3.07527616 15.30080082 0.00000000
B1 4,660,000.00 992.45872532 1.53642704 0.00000000 0.00000000
B2 1,792,000.00 992.45872768 1.53642857 0.00000000 0.00000000
B3 1,075,000.00 992.45872558 1.53642791 0.00000000 0.00000000
B4 956,000.00 992.45872385 1.53642259 0.00000000 0.00000000
B5 597,000.00 992.45872697 1.53643216 0.00000000 0.00000000
B6 956,653.00 992.45932433 1.53625191 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-3 0.00000000 13.96313187 918.09316621 0.91809317 13.96313187
1-CB-1 0.00000000 13.96313019 918.09316410 0.91809316 13.96313019
1-CB-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-4 0.00000000 13.96313047 918.09316275 0.91809316 13.96313047
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
2-A-1 0.00000000 13.04942928 931.91762292 0.93191762 13.04942928
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-PO 0.00000000 18.37607699 926.28987392 0.92628987 18.37607699
B1 0.00000000 1.53642704 990.92229614 0.99092230 1.53642704
B2 0.00000000 1.53642857 990.92229911 0.99092230 1.53642857
B3 0.00000000 1.53642791 990.92229767 0.99092230 1.53642791
B4 0.00000000 1.53642259 990.92230126 0.99092230 1.53642259
B5 0.00000000 1.53643216 990.92229481 0.99092229 1.53643216
B6 0.00000000 1.53625191 990.92289472 0.99092289 1.53625191
<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-3 1,456,000.00 5.50000% 1,357,073.96 6,219.92 0.00 0.00
1-CB-1 180,500,000.00 4.14125% 168,236,161.12 580,590.00 0.00 0.00
1-CB-2 0.00 1.35875% 168,236,161.12 190,492.40 0.00 0.00
1-CB-4 2,169,000.00 5.50000% 2,021,630.10 9,265.80 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
2-A-1 42,893,000.00 5.50000% 40,532,471.78 185,773.83 0.00 0.00
A-IO 0.00 5.50000% 12,012,784.59 55,058.60 0.00 0.00
A-PO 1,905,663.00 0.00000% 1,800,214.95 0.00 0.00 0.00
B1 4,660,000.00 5.50000% 4,624,857.66 21,197.26 0.00 0.00
B2 1,792,000.00 5.50000% 1,778,486.04 8,151.39 0.00 0.00
B3 1,075,000.00 5.50000% 1,066,893.13 4,889.93 0.00 0.00
B4 956,000.00 5.50000% 948,790.54 4,348.62 0.00 0.00
B5 597,000.00 5.50000% 592,497.86 2,715.62 0.00 0.00
B6 956,653.00 5.50000% 949,439.19 4,351.60 0.00 0.00
Totals 238,960,416.00 1,073,054.97 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-3 0.00 0.00 6,219.92 0.00 1,336,743.65
1-CB-1 0.00 0.00 580,590.00 0.00 165,715,816.12
1-CB-2 0.00 0.00 190,492.40 0.00 165,715,816.12
1-CB-4 0.00 0.00 9,265.80 0.00 1,991,344.07
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
2-A-1 0.00 0.00 185,773.83 0.00 39,972,742.60
A-IO 0.00 0.00 55,058.60 0.00 11,884,596.41
A-PO 0.00 0.00 0.00 0.00 1,765,196.34
B1 0.00 0.00 21,197.26 0.00 4,617,697.90
B2 0.00 0.00 8,151.39 0.00 1,775,732.76
B3 0.00 0.00 4,889.93 0.00 1,065,241.47
B4 0.00 0.00 4,348.62 0.00 947,321.72
B5 0.00 0.00 2,715.62 0.00 591,580.61
B6 0.00 0.00 4,351.60 0.00 947,969.36
Totals 0.00 0.00 1,073,054.97 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-3 1,456,000.00 5.50000% 932.05629121 4.27192308 0.00000000 0.00000000
1-CB-1 180,500,000.00 4.14125% 932.05629429 3.21656510 0.00000000 0.00000000
1-CB-2 0.00 1.35875% 932.05629429 1.05535956 0.00000000 0.00000000
1-CB-4 2,169,000.00 5.50000% 932.05629322 4.27192254 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
2-A-1 42,893,000.00 5.50000% 944.96705243 4.33109901 0.00000000 0.00000000
A-IO 0.00 5.50000% 922.55828625 4.22839245 0.00000000 0.00000000
A-PO 1,905,663.00 0.00000% 944.66595091 0.00000000 0.00000000 0.00000000
B1 4,660,000.00 5.50000% 992.45872532 4.54876824 0.00000000 0.00000000
B2 1,792,000.00 5.50000% 992.45872768 4.54876674 0.00000000 0.00000000
B3 1,075,000.00 5.50000% 992.45872558 4.54877209 0.00000000 0.00000000
B4 956,000.00 5.50000% 992.45872385 4.54876569 0.00000000 0.00000000
B5 597,000.00 5.50000% 992.45872697 4.54877722 0.00000000 0.00000000
B6 956,653.00 5.50000% 992.45932433 4.54877578 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-3 0.00000000 0.00000000 4.27192308 0.00000000 918.09316621
1-CB-1 0.00000000 0.00000000 3.21656510 0.00000000 918.09316410
1-CB-2 0.00000000 0.00000000 1.05535956 0.00000000 918.09316410
1-CB-4 0.00000000 0.00000000 4.27192254 0.00000000 918.09316275
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
2-A-1 0.00000000 0.00000000 4.33109901 0.00000000 931.91762292
A-IO 0.00000000 0.00000000 4.22839245 0.00000000 912.71368555
A-PO 0.00000000 0.00000000 0.00000000 0.00000000 926.28987392
B1 0.00000000 0.00000000 4.54876824 0.00000000 990.92229614
B2 0.00000000 0.00000000 4.54876674 0.00000000 990.92229911
B3 0.00000000 0.00000000 4.54877209 0.00000000 990.92229767
B4 0.00000000 0.00000000 4.54876569 0.00000000 990.92230126
B5 0.00000000 0.00000000 4.54877722 0.00000000 990.92229481
B6 0.00000000 0.00000000 4.54877578 0.00000000 990.92289472
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
<s> <c> <c> <c> <c> <c> <c>
1-A-IO 5.50000% 11,629,324.18 11,503,008.93 0.00 0.00 91.18172410%
2-A-IO 5.50000% 383,460.41 381,587.48 0.00 0.00 94.05898673%
1-A-PO 0.00000% 0.00 0.00 380,971.27 372,439.08 92.46115500%
2-A-PO 0.00000% 0.00 0.00 1,419,243.69 1,392,757.27 92.67397164%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 4,302,791.33
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 4,302,791.33
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 48,606.81
Payment of Interest and Principal 4,254,184.52
Total Withdrawals (Pool Distribution Amount) 4,302,791.33
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
<s> <c>
Gross Servicing Fee 46,647.61
Wells Fargo Bank, N.A. 1,959.20
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 48,606.81
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 8 0 0 0 8
1,312,412.24 0.00 0.00 0.00 1,312,412.24
60 Days 1 0 0 0 1
220,863.14 0.00 0.00 0.00 220,863.14
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 1 0 1
0.00 0.00 17,439.18 0.00 17,439.18
150 Days 0 0 1 0 1
0.00 0.00 87,325.34 0.00 87,325.34
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 9 0 2 0 11
1,533,275.38 0.00 104,764.52 0.00 1,638,039.90
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 0.500313% 0.000000% 0.000000% 0.000000% 0.500313%
0.593836% 0.000000% 0.000000% 0.000000% 0.593836%
60 Days 0.062539% 0.000000% 0.000000% 0.000000% 0.062539%
0.099936% 0.000000% 0.000000% 0.000000% 0.099936%
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% 0.062539% 0.000000% 0.062539%
0.000000% 0.000000% 0.007891% 0.000000% 0.007891%
150 Days 0.000000% 0.000000% 0.062539% 0.000000% 0.062539%
0.000000% 0.000000% 0.039513% 0.000000% 0.039513%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.562852% 0.000000% 0.125078% 0.000000% 0.687930%
0.693772% 0.000000% 0.047404% 0.000000% 0.741175%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 8 0 0 0 8
1,312,412.24 0.00 0.00 0.00 1,312,412.24
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 1 0 1
0.00 0.00 87,325.34 0.00 87,325.34
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 8 0 1 0 9
1,312,412.24 0.00 87,325.34 0.00 1,399,737.58
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.635425% 0.000000% 0.000000% 0.000000% 0.635425%
0.738965% 0.000000% 0.000000% 0.000000% 0.738965%
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% 0.079428% 0.000000% 0.079428%
0.000000% 0.000000% 0.049169% 0.000000% 0.049169%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.635425% 0.000000% 0.079428% 0.000000% 0.714853%
0.738965% 0.000000% 0.049169% 0.000000% 0.788134%
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 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 1 0 0 0 1
220,863.14 0.00 0.00 0.00 220,863.14
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 1 0 1
0.00 0.00 17,439.18 0.00 17,439.18
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 1 0 1 0 2
220,863.14 0.00 17,439.18 0.00 238,302.32
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 0.294118% 0.000000% 0.000000% 0.000000% 0.294118%
0.508852% 0.000000% 0.000000% 0.000000% 0.508852%
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% 0.294118% 0.000000% 0.294118%
0.000000% 0.000000% 0.040179% 0.000000% 0.040179%
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 0.294118% 0.000000% 0.294118% 0.000000% 0.588235%
0.508852% 0.000000% 0.040179% 0.000000% 0.549030%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 10,234.72
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 2 Mar-05 0.000%
Original Principal Balance 105,000.00 Apr-05 0.000%
Current Principal Balance 104,764.52 May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.047%
Sep-05 0.047%
*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 1 Mar-05 0.000%
Original Principal Balance 87,500.00 Apr-05 0.000%
Current Principal Balance 87,325.34 May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.048%
Sep-05 0.049%
*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 1 Mar-05 0.000%
Original Principal Balance 17,500.00 Apr-05 0.000%
Current Principal Balance 17,439.18 May-05 0.000%
Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.040%
Sep-05 0.040%
*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>
1 6366927017 Aug-2005 01-Feb-2005 NY 70.00 87,500.00
2 6209709820 Aug-2005 01-Apr-2005 NY 70.00 17,500.00
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>
1 6366927017 87,325.34 01-Mar-2005 5 6.000% 2,922.68
2 6209709820 17,439.18 01-Apr-2005 4 5.875% 487.89
COLLATERAL STATEMENT
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 6.011357%
Weighted Average Pass-Through Rate 5.750857%
Weighted Average Maturity(Stepdown Calculation) 319
Beginning Scheduled Collateral Loan Count 1,619
Number Of Loans Paid In Full 20
Ending Scheduled Collateral Loan Count 1,599
Beginning Scheduled Collateral Balance 223,908,516.33
Ending Scheduled Collateral Balance 220,727,386.61
Ending Actual Collateral Balance at 31-Aug-2005 221,005,684.62
Monthly P&I Constant 1,470,899.11
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Non-PO Optimal Amount 4,123,072.46
Class AP Deferred Amount 0.00
Scheduled Principal 349,237.44
Unscheduled Principal 2,831,892.28
Miscellaneous Reporting
Senior % 94.747329%
Subordinate % 5.252671%
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15 & 30 Year Fixed 15 & 30 Year Mixed Fixed
Weighted Average Coupon Rate 6.104112 5.630621 6.011357
Weighted Average Net Rate 5.854112 5.380621 5.761357
Weighted Average Maturity 354 174 319
Beginning Loan Count 1,276 343 1,619
Loans Paid In Full 17 3 20
Ending Loan Count 1,259 340 1,599
Beginning Scheduled Balance 180,045,580.89 43,862,935.44 223,908,516.33
Ending Scheduled Balance 177,457,830.40 43,269,556.21 220,727,386.61
Record Date 08/31/2005 08/31/2005 08/31/2005
Principal And Interest Constant 1,100,569.52 370,329.59 1,470,899.11
Scheduled Principal 184,720.83 164,516.61 349,237.44
Unscheduled Principal 2,403,029.66 428,862.62 2,831,892.28
Scheduled Interest 915,848.69 205,812.98 1,121,661.67
Servicing Fees 37,509.50 9,138.11 46,647.61
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,575.40 383.80 1,959.20
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 876,763.79 196,291.07 1,073,054.86
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 5.843612 5.370121 5.750857
Miscellaneous Reporting
Group 1
CPR 14.905396%
Subordinate % 4.480428%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.519572%
Group 2
CPR 11.161623%
Subordinate % 4.502953%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.497047%
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 17 2,459,642.00 2,343,472.51 0 0.00 0.00
2 3 411,027.00 402,041.81 0 0.00 0.00
Total 20 2,870,669.00 2,745,514.32 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 62,611.32
2 0 0.00 0.00 0 0.00 0.00 28,339.46
Total 0 0.00 0.00 0 0.00 0.00 90,950.78
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 3301456855 KS 80.00 01-Apr-2005 112,800.00 112,133.70
1 6052709992 MA 80.00 01-Mar-2005 250,000.00 248,231.51
1 6129068000 SC 67.39 01-Mar-2005 93,000.00 92,357.49
1 6153225682 OR 60.27 01-Mar-2005 111,500.00 110,613.54
1 6165376929 FL 103.00 01-Mar-2005 130,810.00 129,862.54
1 6206472547 FL 80.00 01-Apr-2005 123,520.00 122,824.36
1 6371703858 FL 80.00 01-Jan-2005 172,000.00 170,410.12
1 6393333288 CA 37.84 01-Apr-2005 176,000.00 174,884.16
1 6414598521 AZ 75.00 01-Mar-2005 93,000.00 92,342.06
1 6521108875 MD 54.40 01-Apr-2005 68,000.00 67,607.78
1 6603943983 TX 89.99 01-Apr-2005 87,556.00 87,026.40
1 6718554428 OH 80.00 01-Mar-2005 87,200.00 86,556.71
1 6719329382 AZ 80.00 01-Mar-2005 200,836.00 199,381.39
1 6751397164 VT 71.79 01-Apr-2005 140,000.00 139,133.00
1 6805903207 NY 97.00 01-Mar-2005 315,250.00 312,966.76
1 6863745029 CA 80.00 01-Mar-2005 223,200.00 119,587.63
1 6972883968 VA 90.00 01-Mar-2005 74,970.00 74,499.19
2 3301345587 FL 51.93 01-Mar-2005 119,450.00 116,391.17
2 6299711561 CA 37.93 01-Mar-2005 81,177.00 79,088.91
2 6416804893 TN 80.00 01-Mar-2005 210,400.00 205,043.08
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 3301456855 Loan Paid in Full (1) 6.125% 360 5
1 6052709992 Loan Paid in Full 0 6.000% 360 6
1 6129068000 Loan Paid in Full (1) 6.125% 360 6
1 6153225682 Loan Paid in Full 0 5.375% 360 6
1 6165376929 Loan Paid in Full 0 5.875% 360 6
1 6206472547 Loan Paid in Full (1) 6.375% 360 5
1 6371703858 Loan Paid in Full 0 6.125% 360 8
1 6393333288 Loan Paid in Full 0 5.750% 360 5
1 6414598521 Loan Paid in Full 0 6.000% 360 6
1 6521108875 Loan Paid in Full 0 6.250% 360 5
1 6603943983 Loan Paid in Full 0 6.000% 360 5
1 6718554428 Loan Paid in Full 0 6.250% 360 6
1 6719329382 Loan Paid in Full 0 5.875% 360 6
1 6751397164 Loan Paid in Full (1) 5.875% 360 5
1 6805903207 Loan Paid in Full 0 5.875% 360 6
1 6863745029 Loan Paid in Full 0 6.375% 360 6
1 6972883968 Loan Paid in Full 0 6.625% 360 6
2 3301345587 Loan Paid in Full 0 5.500% 180 6
2 6299711561 Loan Paid in Full (1) 5.375% 180 6
2 6416804893 Loan Paid in Full 0 5.500% 180 6
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.267% Current Month 14.185% Current Month 1,274.881%
3 Month Average 1.524% 3 Month Average 16.764% 3 Month Average 1,888.501%
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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 8.249% N/A Apr-2005 7,207.437% N/A
May-2005 3.899% N/A May-2005 1,240.774% N/A
Jun-2005 15.101% N/A Jun-2005 2,936.809% N/A
Jul-2005 14.314% N/A Jul-2005 2,004.958% N/A
Aug-2005 21.792% N/A Aug-2005 2,385.664% N/A
Sep-2005 14.185% N/A Sep-2005 1,274.881% 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 1.336% Current Month 14.905% Current Month 1,340.906%
3 Month Average 1.680% 3 Month Average 18.287% 3 Month Average 2,066.429%
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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 6.356% N/A Apr-2005 5,609.661% N/A
May-2005 4.676% N/A May-2005 1,493.586% N/A
Jun-2005 17.114% N/A Jun-2005 3,335.372% N/A
Jul-2005 15.617% N/A Jul-2005 2,190.676% N/A
Aug-2005 24.339% N/A Aug-2005 2,667.705% N/A
Sep-2005 14.905% N/A Sep-2005 1,340.906% 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 0.981% Current Month 11.162% Current Month 999.177%
3 Month Average 0.879% 3 Month Average 10.048% 3 Month Average 1,109.898%
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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 15.763% N/A Apr-2005 13,221.490% N/A
May-2005 0.560% N/A May-2005 175.559% N/A
Jun-2005 6.122% N/A Jun-2005 1,180.142% N/A
Jul-2005 8.664% N/A Jul-2005 1,206.387% N/A
Aug-2005 10.318% N/A Aug-2005 1,124.129% N/A
Sep-2005 11.162% N/A Sep-2005 999.177% 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A 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>