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): October 25, 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 October 25, 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
October 25, 2005 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BANC OF AMERICA ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2005-1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 10/27/2005
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 October 25, 2005 distribution.
EX-99.1
Banc of America Alternative Loan Trust
Mortgage Pass-Through Certificates
Record Date: 9/30/2005
Distribution Date: 10/25/2005
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% 160,978,898.11 704,282.68
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 33,537.27
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 62,283.20
2-A-1 05949AL99 SEN 5.50000% 39,218,815.14 179,752.90
30-PO 05949AL65 PO 0.00000% 261,040.38 0.00
15-IO 05949AL81 SEN 5.50000% 0.00 1,357.48
15-PO 05949AL73 PO 0.00000% 1,614,334.48 0.00
B-1 05949AM23 SUB 5.50000% 5,782,087.72 26,501.24
B-2 05949AM31 SUB 5.50000% 2,064,748.93 9,463.43
B-3 05949AM49 SUB 5.50000% 1,375,840.36 6,305.93
B-4 05949AM56 SUB 5.50000% 1,102,056.03 5,051.09
B-5 05949AM64 SUB 5.50000% 825,306.54 3,782.65
B-6 05949AM72 SUB 5.50000% 1,101,983.30 5,050.76
Totals 252,153,110.99 1,210,746.96
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 3,156,858.47 0.00 157,822,039.64 3,861,141.15 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 33,537.27 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 62,283.20 0.00
2-A-1 169,214.73 0.00 39,049,600.41 348,967.63 0.00
30-PO 12,800.55 0.00 248,239.83 12,800.55 0.00
15-IO 0.00 0.00 0.00 1,357.48 0.00
15-PO 6,758.65 0.00 1,607,575.83 6,758.65 0.00
B-1 8,719.73 0.00 5,773,367.99 35,220.97 0.00
B-2 3,113.76 0.00 2,061,635.17 12,577.19 0.00
B-3 2,074.85 0.00 1,373,765.51 8,380.78 0.00
B-4 1,661.96 0.00 1,100,394.07 6,713.05 0.00
B-5 1,244.61 0.00 824,061.93 5,027.26 0.00
B-6 1,661.72 0.00 1,100,321.45 6,712.48 0.00
Totals 3,364,109.03 0.00 248,789,001.83 4,574,855.99 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-1 183,469,000.00 160,978,898.11 207,695.41 2,949,163.06 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 39,218,815.14 151,441.84 17,772.88 0.00 0.00
30-PO 272,074.89 261,040.38 303.32 12,497.24 0.00 0.00
15-IO 0.00 0.00 0.00 0.00 0.00 0.00
15-PO 1,719,983.14 1,614,334.48 6,398.33 360.32 0.00 0.00
B-1 5,850,000.00 5,782,087.72 8,719.73 0.00 0.00 0.00
B-2 2,089,000.00 2,064,748.93 3,113.76 0.00 0.00 0.00
B-3 1,392,000.00 1,375,840.36 2,074.85 0.00 0.00 0.00
B-4 1,115,000.00 1,102,056.03 1,661.96 0.00 0.00 0.00
B-5 835,000.00 825,306.54 1,244.61 0.00 0.00 0.00
B-6 1,114,926.00 1,101,983.30 1,661.72 0.00 0.00 0.00
Totals 278,542,084.03 252,153,110.99 384,315.53 2,979,793.50 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 3,156,858.47 157,822,039.64 0.86021093 3,156,858.47
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-1 169,214.73 39,049,600.41 0.91116038 169,214.73
30-PO 12,800.55 248,239.83 0.91239522 12,800.55
15-IO 0.00 0.00 0.00000000 0.00
15-PO 6,758.65 1,607,575.83 0.93464627 6,758.65
B-1 8,719.73 5,773,367.99 0.98690051 8,719.73
B-2 3,113.76 2,061,635.17 0.98690051 3,113.76
B-3 2,074.85 1,373,765.51 0.98690051 2,074.85
B-4 1,661.96 1,100,394.07 0.98690051 1,661.96
B-5 1,244.61 824,061.93 0.98690051 1,244.61
B-6 1,661.72 1,100,321.45 0.98690088 1,661.72
Totals 3,364,109.03 248,789,001.83 0.89318281 3,364,109.03
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-1 183,469,000.00 877.41742807 1.13204634 16.07444887 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 42,857,000.00 915.10873696 3.53365471 0.41470192 0.00000000
30-PO 272,074.89 959.44311509 1.11484011 45.93308850 0.00000000
15-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
15-PO 1,719,983.14 938.57575836 3.71999577 0.20949043 0.00000000
B-1 5,850,000.00 988.39106325 1.49055214 0.00000000 0.00000000
B-2 2,089,000.00 988.39106271 1.49055050 0.00000000 0.00000000
B-3 1,392,000.00 988.39106322 1.49055316 0.00000000 0.00000000
B-4 1,115,000.00 988.39105830 1.49054709 0.00000000 0.00000000
B-5 835,000.00 988.39106587 1.49055090 0.00000000 0.00000000
B-6 1,114,926.00 988.39142687 1.49043076 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 17.20649521 860.21093286 0.86021093 17.20649521
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 3.94835686 911.16038010 0.91116038 3.94835686
30-PO 0.00000000 47.04789185 912.39522324 0.91239522 47.04789185
15-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
15-PO 0.00000000 3.92948619 934.64627217 0.93464627 3.92948619
B-1 0.00000000 1.49055214 986.90051111 0.98690051 1.49055214
B-2 0.00000000 1.49055050 986.90051221 0.98690051 1.49055050
B-3 0.00000000 1.49055316 986.90051006 0.98690051 1.49055316
B-4 0.00000000 1.49054709 986.90051121 0.98690051 1.49054709
B-5 0.00000000 1.49055090 986.90051497 0.98690051 1.49055090
B-6 0.00000000 1.49043076 986.90087952 0.98690088 1.49043076
<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% 160,978,898.11 704,282.68 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% 7,317,222.64 33,537.27 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% 13,589,062.60 62,283.20 0.00 0.00
2-A-1 42,857,000.00 5.50000% 39,218,815.14 179,752.90 0.00 0.00
30-PO 272,074.89 0.00000% 261,040.38 0.00 0.00 0.00
15-IO 0.00 5.50000% 296,177.93 1,357.48 0.00 0.00
15-PO 1,719,983.14 0.00000% 1,614,334.48 0.00 0.00 0.00
B-1 5,850,000.00 5.50000% 5,782,087.72 26,501.24 0.00 0.00
B-2 2,089,000.00 5.50000% 2,064,748.93 9,463.43 0.00 0.00
B-3 1,392,000.00 5.50000% 1,375,840.36 6,305.93 0.00 0.00
B-4 1,115,000.00 5.50000% 1,102,056.03 5,051.09 0.00 0.00
B-5 835,000.00 5.50000% 825,306.54 3,782.65 0.00 0.00
B-6 1,114,926.00 5.50000% 1,101,983.30 5,050.76 0.00 0.00
Totals 278,542,084.03 1,210,746.96 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 0.00 704,282.68 0.00 157,822,039.64
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 33,537.27 0.00 7,173,729.07
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 62,283.20 0.00 13,345,517.38
2-A-1 0.00 0.00 179,752.90 0.00 39,049,600.41
30-PO 0.00 0.00 0.00 0.00 248,239.83
15-IO 0.00 0.00 1,357.48 0.00 294,964.70
15-PO 0.00 0.00 0.00 0.00 1,607,575.83
B-1 0.00 0.00 26,501.24 0.00 5,773,367.99
B-2 0.00 0.00 9,463.43 0.00 2,061,635.17
B-3 0.00 0.00 6,305.93 0.00 1,373,765.51
B-4 0.00 0.00 5,051.09 0.00 1,100,394.07
B-5 0.00 0.00 3,782.65 0.00 824,061.93
B-6 0.00 0.00 5,050.76 0.00 1,100,321.45
Totals 0.00 0.00 1,210,746.96 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1-CB-1 183,469,000.00 5.25000% 877.41742807 3.83870125 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% 877.41742790 4.02149649 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% 870.97734359 3.99197926 0.00000000 0.00000000
2-A-1 42,857,000.00 5.50000% 915.10873696 4.19424831 0.00000000 0.00000000
30-PO 272,074.89 0.00000% 959.44311509 0.00000000 0.00000000 0.00000000
15-IO 0.00 5.50000% 810.95851980 3.71688725 0.00000000 0.00000000
15-PO 1,719,983.14 0.00000% 938.57575836 0.00000000 0.00000000 0.00000000
B-1 5,850,000.00 5.50000% 988.39106325 4.53012650 0.00000000 0.00000000
B-2 2,089,000.00 5.50000% 988.39106271 4.53012446 0.00000000 0.00000000
B-3 1,392,000.00 5.50000% 988.39106322 4.53012213 0.00000000 0.00000000
B-4 1,115,000.00 5.50000% 988.39105830 4.53012556 0.00000000 0.00000000
B-5 835,000.00 5.50000% 988.39106587 4.53011976 0.00000000 0.00000000
B-6 1,114,926.00 5.50000% 988.39142687 4.53013025 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 3.83870125 0.00000000 860.21093286
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 4.02149649 0.00000000 860.21093231
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 3.99197926 0.00000000 855.36755688
2-A-1 0.00000000 0.00000000 4.19424831 0.00000000 911.16038010
30-PO 0.00000000 0.00000000 0.00000000 0.00000000 912.39522324
15-IO 0.00000000 0.00000000 3.71688725 0.00000000 807.63660043
15-PO 0.00000000 0.00000000 0.00000000 0.00000000 934.64627217
B-1 0.00000000 0.00000000 4.53012650 0.00000000 986.90051111
B-2 0.00000000 0.00000000 4.53012446 0.00000000 986.90051221
B-3 0.00000000 0.00000000 4.53012213 0.00000000 986.90051006
B-4 0.00000000 0.00000000 4.53012556 0.00000000 986.90051121
B-5 0.00000000 0.00000000 4.53011976 0.00000000 986.90051497
B-6 0.00000000 0.00000000 4.53013025 0.00000000 986.90087952
<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 4,629,594.23
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 4,629,594.23
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 54,738.24
Payment of Interest and Principal 4,574,855.99
Total Withdrawals (Pool Distribution Amount) 4,629,594.23
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 52,531.90
Trustee Fee: Wells Fargo Bank, N.A. 2,206.34
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 54,738.24
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
556,093.19 0.00 0.00 556,093.19
30 Days 12 0 0 0 12
2,203,187.40 0.00 0.00 0.00 2,203,187.40
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 12 3 0 0 15
2,203,187.40 556,093.19 0.00 0.00 2,759,280.59
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 0.161638% 0.000000% 0.000000% 0.161638%
0.223236% 0.000000% 0.000000% 0.223236%
30 Days 0.646552% 0.000000% 0.000000% 0.000000% 0.646552%
0.884438% 0.000000% 0.000000% 0.000000% 0.884438%
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 0.646552% 0.161638% 0.000000% 0.000000% 0.808190%
0.884438% 0.223236% 0.000000% 0.000000% 1.107674%
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
556,093.19 0.00 0.00 556,093.19
30 Days 11 0 0 0 11
2,138,994.56 0.00 0.00 0.00 2,138,994.56
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 11 3 0 0 14
2,138,994.56 556,093.19 0.00 0.00 2,695,087.75
0-29 Days 0.204221% 0.000000% 0.000000% 0.204221%
0.269559% 0.000000% 0.000000% 0.269559%
30 Days 0.748809% 0.000000% 0.000000% 0.000000% 0.748809%
1.036850% 0.000000% 0.000000% 0.000000% 1.036850%
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 0.748809% 0.204221% 0.000000% 0.000000% 0.953029%
1.036850% 0.269559% 0.000000% 0.000000% 1.306409%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
64,192.84 0.00 0.00 0.00 64,192.84
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 1 0 0 0 1
64,192.84 0.00 0.00 0.00 64,192.84
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.258398% 0.000000% 0.000000% 0.000000% 0.258398%
0.149954% 0.000000% 0.000000% 0.000000% 0.149954%
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 0.258398% 0.000000% 0.000000% 0.000000% 0.258398%
0.149954% 0.000000% 0.000000% 0.000000% 0.149954%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 13,200.16
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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-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 6.022461%
Weighted Average Pass-Through Rate 5.761961%
Weighted Average Maturity(Stepdown Calculation) 320
Beginning Scheduled Collateral Loan Count 1,872
Number Of Loans Paid In Full 16
Ending Scheduled Collateral Loan Count 1,856
Beginning Scheduled Collateral Balance 252,153,110.98
Ending Scheduled Collateral Balance 248,789,001.81
Ending Actual Collateral Balance at 30-Sep-2005 249,105,801.24
Monthly P&I Constant 1,649,800.80
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 4,480,665.05
Class AP Deferred Amount 0.00
Scheduled Principal 384,315.67
Unscheduled Principal 2,979,793.50
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15 & 30 Year Fixed 15 & 30 Year Mixed Fixed
Weighted Average Coupon Rate 6.110727 5.591302 6.022461
Weighted Average Net Rate 5.860727 5.341302 5.772461
Weighted Average Maturity 350 171 320
Beginning Loan Count 1,485 387 1,872
Loans Paid In Full 16 0 16
Ending Loan Count 1,469 387 1,856
Beginning Scheduled Balance 209,304,531.15 42,848,579.83 252,153,110.98
Ending Scheduled Balance 206,124,177.86 42,664,823.95 248,789,001.81
Record Date 09/30/2005 09/30/2005 09/30/2005
Principal And Interest Constant 1,284,528.65 365,272.15 1,649,800.80
Scheduled Principal 218,692.99 165,622.68 384,315.67
Unscheduled Principal 2,961,660.30 18,133.20 2,979,793.50
Scheduled Interest 1,065,835.66 199,649.47 1,265,485.13
Servicing Fees 43,605.11 8,926.79 52,531.90
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,831.41 374.93 2,206.34
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 1,020,399.14 190,347.75 1,210,746.89
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 5.850227 5.330802 5.761961
Miscellaneous Reporting
Group 1
CPR 15.734108%
Subordinate % 4.896872%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.103128%
Group 2
CPR 0.508612%
Subordinate % 4.887758%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.112242%
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 16 2,961,798.00 2,936,497.97 0 0.00 0.00
2 0 0.00 0.00 0 0.00 0.00
Total 16 2,961,798.00 2,936,497.97 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 28,152.33
2 0 0.00 0.00 0 0.00 0.00 18,133.20
Total 0 0.00 0.00 0 0.00 0.00 46,285.53
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 3300971847 FL 64.37 01-Dec-2004 72,100.00 71,363.18
1 3301075044 NV 80.00 01-Feb-2005 180,000.00 178,151.84
1 6075364866 WI 80.00 01-Feb-2005 271,600.00 268,866.75
1 6162895160 TN 100.00 01-Jan-2005 162,000.00 160,463.19
1 6176627088 WA 80.00 01-Feb-2005 128,000.00 126,935.70
1 6179163735 CA 69.98 01-Jan-2005 524,900.00 519,801.18
1 6208615622 PA 97.00 01-Feb-2005 160,535.00 158,910.65
1 6362071919 NC 80.00 01-Feb-2005 185,600.00 183,863.17
1 6569717116 MI 79.41 01-Jan-2005 135,000.00 133,625.35
1 6578386739 CA 69.99 01-Jan-2005 262,499.00 259,949.02
1 6660292936 GA 67.34 01-Feb-2005 74,084.00 73,467.94
1 6670462354 VA 80.00 01-Feb-2005 152,880.00 151,578.13
1 6677623222 GA 80.00 01-Feb-2005 63,200.00 62,539.23
1 6792591320 CA 62.11 01-Feb-2005 182,000.00 180,450.19
1 6813768865 CA 77.77 01-Jan-2005 350,000.00 346,679.64
1 6845357695 VA 70.00 01-Feb-2005 57,400.00 56,862.81
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 3300971847 Loan Paid in Full 0 6.500% 360 10
1 3301075044 Loan Paid in Full 0 5.375% 360 8
1 6075364866 Loan Paid in Full 0 6.000% 360 8
1 6162895160 Loan Paid in Full 0 6.375% 360 9
1 6176627088 Loan Paid in Full 0 6.500% 360 8
1 6179163735 Loan Paid in Full 0 6.250% 360 9
1 6208615622 Loan Paid in Full 0 5.875% 360 8
1 6362071919 Loan Paid in Full 0 5.875% 360 8
1 6569717116 Loan Paid in Full 0 6.000% 360 9
1 6578386739 Loan Paid in Full 0 6.250% 360 9
1 6660292936 Loan Paid in Full 0 6.500% 360 8
1 6670462354 Loan Paid in Full 0 6.375% 360 8
1 6677623222 Loan Paid in Full 0 6.000% 360 8
1 6792591320 Loan Paid in Full 0 6.375% 360 8
1 6813768865 Loan Paid in Full 0 6.375% 360 9
1 6845357695 Loan Paid in Full 0 5.875% 360 8
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.184% Current Month 13.314% Current Month 783.522%
3 Month Average 1.625% 3 Month Average 17.794% 3 Month Average 1,223.768%
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>
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
Oct-2005 13.314% N/A Oct-2005 783.522% 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 1.416% Current Month 15.734% Current Month 924.565%
3 Month Average 1.775% 3 Month Average 19.300% 3 Month Average 1,317.546%
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>
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
Oct-2005 15.734% N/A Oct-2005 924.565% 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 0.042% Current Month 0.509% Current Month 30.155%
3 Month Average 0.892% 3 Month Average 9.926% 3 Month Average 729.120%
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>
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
Oct-2005 0.509% N/A Oct-2005 30.155% 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>
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
Oct-2005 0.000% N/A Oct-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>
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
Oct-2005 0.000% N/A Oct-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>
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
Oct-2005 0.000% N/A Oct-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>
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
Oct-2005 0.000% N/A Oct-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>
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
Oct-2005 0.000% N/A Oct-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>
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
Oct-2005 0.000% N/A Oct-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>