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
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2005-HE5 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-123741-06
Pooling and Servicing Agreement) (Commission 54-2182222
(State or other File Number) 54-2182223
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 ACE SECURITIES CORP.
HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series
2005-HE5 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Asset Backed Pass-Through Certificates,
Series 2005-HE5 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.
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2005-HE5 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Securities Administrator
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 10/29/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Pass-Through Certificates, Series 2005-HE5 Trust,
relating to the October 25, 2005 distribution.
EX-99.1
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Record Date: 9/30/2005
Distribution Date: 10/25/2005
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Series ACE 2005-HE5
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
A-1 004421RA3 SEN 4.07000% 542,427,493.37 1,778,408.81
A-2A 004421RB1 SEN 3.95000% 323,653,817.64 1,029,848.47
A-2B 004421RC9 SEN 4.07000% 135,251,000.00 443,435.43
A-2C 004421RD7 SEN 4.21000% 68,780,000.00 233,259.73
M-1 004421RE5 SUB 4.30000% 57,482,000.00 199,111.26
M-2 004421RF2 SUB 4.32000% 53,171,000.00 185,035.08
M-3 004421RG0 SUB 4.34000% 31,615,000.00 110,529.55
M-4 004421RH8 SUB 4.43000% 28,023,000.00 100,003.19
M-5 004421RJ4 SUB 4.47000% 25,149,000.00 90,557.36
M-6 004421RK1 SUB 4.52000% 23,711,000.00 86,334.39
M-7 004421RL9 SUB 5.00000% 19,400,000.00 78,138.89
M-8 004421RM7 SUB 5.20000% 17,963,000.00 75,245.01
M-9 004421RN5 SUB 5.63000% 15,808,000.00 71,693.67
M-10 004421RP0 SUB 6.83000% 12,215,000.00 67,206.25
B-1 004421RQ8 SUB 6.83000% 14,371,000.00 79,068.44
B-2 004421RR6 SUB 6.83000% 25,149,000.00 138,368.40
B-3 004421RS4 SUB 6.83000% 15,089,000.00 83,018.84
P ACE05HE5P SEN 0.00000% 100.00 336,551.76
CE ACE05H5CE SUB 0.00000% 11,496,462.30 3,101,748.59
R-1 ACE05H5R1 SEN 0.00000% 0.00 0.00
Totals 1,420,754,873.31 8,287,563.12
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 10,784,486.16 0.00 531,643,007.21 12,562,894.97 0.00
A-2A 10,763,766.88 0.00 312,890,050.76 11,793,615.35 0.00
A-2B 0.00 0.00 135,251,000.00 443,435.43 0.00
A-2C 0.00 0.00 68,780,000.00 233,259.73 0.00
M-1 0.00 0.00 57,482,000.00 199,111.26 0.00
M-2 0.00 0.00 53,171,000.00 185,035.08 0.00
M-3 0.00 0.00 31,615,000.00 110,529.55 0.00
M-4 0.00 0.00 28,023,000.00 100,003.19 0.00
M-5 0.00 0.00 25,149,000.00 90,557.36 0.00
M-6 0.00 0.00 23,711,000.00 86,334.39 0.00
M-7 0.00 0.00 19,400,000.00 78,138.89 0.00
M-8 0.00 0.00 17,963,000.00 75,245.01 0.00
M-9 0.00 0.00 15,808,000.00 71,693.67 0.00
M-10 0.00 0.00 12,215,000.00 67,206.25 0.00
B-1 0.00 0.00 14,371,000.00 79,068.44 0.00
B-2 0.00 0.00 25,149,000.00 138,368.40 0.00
B-3 0.00 0.00 15,089,000.00 83,018.84 0.00
P 0.00 0.00 100.00 336,551.76 0.00
CE 0.00 0.00 11,496,462.30 3,101,748.59 0.00
R-1 0.00 0.00 0.00 0.00 0.00
Totals 21,548,253.04 0.00 1,399,206,620.27 29,835,816.16 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
A-1 549,265,000.00 542,427,493.37 0.00 10,784,486.16 0.00 0.00
A-2A 333,119,000.00 323,653,817.64 0.00 10,763,766.88 0.00 0.00
A-2B 135,251,000.00 135,251,000.00 0.00 0.00 0.00 0.00
A-2C 68,780,000.00 68,780,000.00 0.00 0.00 0.00 0.00
M-1 57,482,000.00 57,482,000.00 0.00 0.00 0.00 0.00
M-2 53,171,000.00 53,171,000.00 0.00 0.00 0.00 0.00
M-3 31,615,000.00 31,615,000.00 0.00 0.00 0.00 0.00
M-4 28,023,000.00 28,023,000.00 0.00 0.00 0.00 0.00
M-5 25,149,000.00 25,149,000.00 0.00 0.00 0.00 0.00
M-6 23,711,000.00 23,711,000.00 0.00 0.00 0.00 0.00
M-7 19,400,000.00 19,400,000.00 0.00 0.00 0.00 0.00
M-8 17,963,000.00 17,963,000.00 0.00 0.00 0.00 0.00
M-9 15,808,000.00 15,808,000.00 0.00 0.00 0.00 0.00
M-10 12,215,000.00 12,215,000.00 0.00 0.00 0.00 0.00
B-1 14,371,000.00 14,371,000.00 0.00 0.00 0.00 0.00
B-2 25,149,000.00 25,149,000.00 0.00 0.00 0.00 0.00
B-3 15,089,000.00 15,089,000.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
CE 11,496,688.00 11,496,462.30 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
Totals 1,437,057,788.00 1,420,754,873.31 0.00 21,548,253.04 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
A-1 10,784,486.16 531,643,007.21 0.96791714 10,784,486.16
A-2A 10,763,766.88 312,890,050.76 0.93927411 10,763,766.88
A-2B 0.00 135,251,000.00 1.00000000 0.00
A-2C 0.00 68,780,000.00 1.00000000 0.00
M-1 0.00 57,482,000.00 1.00000000 0.00
M-2 0.00 53,171,000.00 1.00000000 0.00
M-3 0.00 31,615,000.00 1.00000000 0.00
M-4 0.00 28,023,000.00 1.00000000 0.00
M-5 0.00 25,149,000.00 1.00000000 0.00
M-6 0.00 23,711,000.00 1.00000000 0.00
M-7 0.00 19,400,000.00 1.00000000 0.00
M-8 0.00 17,963,000.00 1.00000000 0.00
M-9 0.00 15,808,000.00 1.00000000 0.00
M-10 0.00 12,215,000.00 1.00000000 0.00
B-1 0.00 14,371,000.00 1.00000000 0.00
B-2 0.00 25,149,000.00 1.00000000 0.00
B-3 0.00 15,089,000.00 1.00000000 0.00
P 0.00 100.00 1.00000000 0.00
CE 0.00 11,496,462.30 0.99998037 0.00
R-1 0.00 0.00 0.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
Totals 21,548,253.04 1,399,206,620.27 0.97366065 21,548,253.04
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
A-1 549,265,000.00 987.55153409 0.00000000 19.63439535 0.00000000
A-2A 333,119,000.00 971.58618284 0.00000000 32.31207731 0.00000000
A-2B 135,251,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2C 68,780,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 57,482,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 53,171,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 31,615,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 28,023,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 25,149,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 23,711,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-7 19,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-8 17,963,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-9 15,808,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-10 12,215,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 14,371,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-2 25,149,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-3 15,089,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 11,496,688.00 999.98036826 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All Classes are Per 1,000 Denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 19.63439535 967.91713874 0.96791714 19.63439535
A-2A 0.00000000 32.31207731 939.27410553 0.93927411 32.31207731
A-2B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 0.00000000 999.98036826 0.99998037 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 549,265,000.00 4.07000% 542,427,493.37 1,778,408.81 0.00 0.00
A-2A 333,119,000.00 3.95000% 323,653,817.64 1,029,848.47 0.00 0.00
A-2B 135,251,000.00 4.07000% 135,251,000.00 443,435.43 0.00 0.00
A-2C 68,780,000.00 4.21000% 68,780,000.00 233,259.73 0.00 0.00
M-1 57,482,000.00 4.30000% 57,482,000.00 199,111.26 0.00 0.00
M-2 53,171,000.00 4.32000% 53,171,000.00 185,035.08 0.00 0.00
M-3 31,615,000.00 4.34000% 31,615,000.00 110,529.55 0.00 0.00
M-4 28,023,000.00 4.43000% 28,023,000.00 100,003.19 0.00 0.00
M-5 25,149,000.00 4.47000% 25,149,000.00 90,557.36 0.00 0.00
M-6 23,711,000.00 4.52000% 23,711,000.00 86,334.39 0.00 0.00
M-7 19,400,000.00 5.00000% 19,400,000.00 78,138.89 0.00 0.00
M-8 17,963,000.00 5.20000% 17,963,000.00 75,245.01 0.00 0.00
M-9 15,808,000.00 5.63000% 15,808,000.00 71,693.67 0.00 0.00
M-10 12,215,000.00 6.83000% 12,215,000.00 67,206.25 0.00 0.00
B-1 14,371,000.00 6.83000% 14,371,000.00 79,068.44 0.00 0.00
B-2 25,149,000.00 6.83000% 25,149,000.00 138,368.40 0.00 0.00
B-3 15,089,000.00 6.83000% 15,089,000.00 83,018.84 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
CE 11,496,688.00 0.00000% 1,420,754,873.31 0.00 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 1,437,057,788.00 4,849,262.77 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00 0.00 1,778,408.81 0.00 531,643,007.21
A-2A 0.00 0.00 1,029,848.47 0.00 312,890,050.76
A-2B 0.00 0.00 443,435.43 0.00 135,251,000.00
A-2C 0.00 0.00 233,259.73 0.00 68,780,000.00
M-1 0.00 0.00 199,111.26 0.00 57,482,000.00
M-2 0.00 0.00 185,035.08 0.00 53,171,000.00
M-3 0.00 0.00 110,529.55 0.00 31,615,000.00
M-4 0.00 0.00 100,003.19 0.00 28,023,000.00
M-5 0.00 0.00 90,557.36 0.00 25,149,000.00
M-6 0.00 0.00 86,334.39 0.00 23,711,000.00
M-7 0.00 0.00 78,138.89 0.00 19,400,000.00
M-8 0.00 0.00 75,245.01 0.00 17,963,000.00
M-9 0.00 0.00 71,693.67 0.00 15,808,000.00
M-10 0.00 0.00 67,206.25 0.00 12,215,000.00
B-1 0.00 0.00 79,068.44 0.00 14,371,000.00
B-2 0.00 0.00 138,368.40 0.00 25,149,000.00
B-3 0.00 0.00 83,018.84 0.00 15,089,000.00
P 0.00 0.00 336,551.76 0.00 100.00
CE 0.00 0.00 3,101,748.59 0.00 1,399,206,620.27
R-1 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 8,287,563.12 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 549,265,000.00 4.07000% 987.55153409 3.23779744 0.00000000 0.00000000
A-2A 333,119,000.00 3.95000% 971.58618284 3.09153327 0.00000000 0.00000000
A-2B 135,251,000.00 4.07000% 1000.00000000 3.27861110 0.00000000 0.00000000
A-2C 68,780,000.00 4.21000% 1000.00000000 3.39138892 0.00000000 0.00000000
M-1 57,482,000.00 4.30000% 1000.00000000 3.46388887 0.00000000 0.00000000
M-2 53,171,000.00 4.32000% 1000.00000000 3.48000000 0.00000000 0.00000000
M-3 31,615,000.00 4.34000% 1000.00000000 3.49611102 0.00000000 0.00000000
M-4 28,023,000.00 4.43000% 1000.00000000 3.56861114 0.00000000 0.00000000
M-5 25,149,000.00 4.47000% 1000.00000000 3.60083343 0.00000000 0.00000000
M-6 23,711,000.00 4.52000% 1000.00000000 3.64111130 0.00000000 0.00000000
M-7 19,400,000.00 5.00000% 1000.00000000 4.02777784 0.00000000 0.00000000
M-8 17,963,000.00 5.20000% 1000.00000000 4.18888883 0.00000000 0.00000000
M-9 15,808,000.00 5.63000% 1000.00000000 4.53527771 0.00000000 0.00000000
M-10 12,215,000.00 6.83000% 1000.00000000 5.50194433 0.00000000 0.00000000
B-1 14,371,000.00 6.83000% 1000.00000000 5.50194419 0.00000000 0.00000000
B-2 25,149,000.00 6.83000% 1000.00000000 5.50194441 0.00000000 0.00000000
B-3 15,089,000.00 6.83000% 1000.00000000 5.50194446 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
CE 11,496,688.00 0.00000% 123579.49292092 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are Per 1,000 Denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 0.00000000 3.23779744 0.00000000 967.91713874
A-2A 0.00000000 0.00000000 3.09153327 0.00000000 939.27410553
A-2B 0.00000000 0.00000000 3.27861110 0.00000000 1000.00000000
A-2C 0.00000000 0.00000000 3.39138892 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 3.46388887 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 3.48000000 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 3.49611102 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.56861114 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 3.60083343 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 3.64111130 0.00000000 1000.00000000
M-7 0.00000000 0.00000000 4.02777784 0.00000000 1000.00000000
M-8 0.00000000 0.00000000 4.18888883 0.00000000 1000.00000000
M-9 0.00000000 0.00000000 4.53527771 0.00000000 1000.00000000
M-10 0.00000000 0.00000000 5.50194433 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 5.50194419 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 5.50194441 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 5.50194446 0.00000000 1000.00000000
P 0.00000000 0.00000000 3365517.60000000 0.00000000 1000.00000000
CE 0.00000000 0.00000000 269.79496965 0.00000000 121705.19198834
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 29,994,285.76
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 249,080.81
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 336,551.76
Total Deposits 30,579,918.33
Withdrawals
Reimbursement for Servicer Advances 135,545.51
Payment of Service Fee 608,556.66
Payment of Interest and Principal 29,835,816.16
Total Withdrawals (Pool Distribution Amount) 30,579,918.33
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 591,981.20
Credit Risk Manager Fee - Murrayhill: 16,575.46
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 608,556.66
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 1,000.00 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 134 0 0 0 134
27,207,640.53 0.00 0.00 0.00 27,207,640.53
60 Days 58 0 0 0 58
9,740,946.78 0.00 0.00 0.00 9,740,946.78
90 Days 3 0 0 0 3
434,978.74 0.00 0.00 0.00 434,978.74
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 195 0 0 0 195
37,383,566.05 0.00 0.00 0.00 37,383,566.05
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 1.898286% 0.000000% 0.000000% 0.000000% 1.898286%
1.943333% 0.000000% 0.000000% 0.000000% 1.943333%
60 Days 0.821646% 0.000000% 0.000000% 0.000000% 0.821646%
0.695757% 0.000000% 0.000000% 0.000000% 0.695757%
90 Days 0.042499% 0.000000% 0.000000% 0.000000% 0.042499%
0.031069% 0.000000% 0.000000% 0.000000% 0.031069%
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 2.762431% 0.000000% 0.000000% 0.000000% 2.762431%
2.670158% 0.000000% 0.000000% 0.000000% 2.670158%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Grp 1 Sub-Grp 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 20 0 0 0 20
804,033.97 0.00 0.00 0.00 804,033.97
60 Days 15 0 0 0 15
836,374.00 0.00 0.00 0.00 836,374.00
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 35 0 0 0 35
1,640,407.97 0.00 0.00 0.00 1,640,407.97
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.351351% 0.000000% 0.000000% 0.000000% 1.351351%
0.573382% 0.000000% 0.000000% 0.000000% 0.573382%
60 Days 1.013514% 0.000000% 0.000000% 0.000000% 1.013514%
0.596444% 0.000000% 0.000000% 0.000000% 0.596444%
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 2.364865% 0.000000% 0.000000% 0.000000% 2.364865%
1.169826% 0.000000% 0.000000% 0.000000% 1.169826%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Gr 1 Sub-Gr 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 61 0 0 0 61
10,032,812.95 0.00 0.00 0.00 10,032,812.95
60 Days 27 0 0 0 27
4,334,397.03 0.00 0.00 0.00 4,334,397.03
90 Days 1 0 0 0 1
95,000.00 0.00 0.00 0.00 95,000.00
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 89 0 0 0 89
14,462,209.98 0.00 0.00 0.00 14,462,209.98
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.974110% 0.000000% 0.000000% 0.000000% 1.974110%
1.762750% 0.000000% 0.000000% 0.000000% 1.762750%
60 Days 0.873786% 0.000000% 0.000000% 0.000000% 0.873786%
0.761547% 0.000000% 0.000000% 0.000000% 0.761547%
90 Days 0.032362% 0.000000% 0.000000% 0.000000% 0.032362%
0.016691% 0.000000% 0.000000% 0.000000% 0.016691%
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 2.880259% 0.000000% 0.000000% 0.000000% 2.880259%
2.540989% 0.000000% 0.000000% 0.000000% 2.540989%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Gr 2 Sub-Gr 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 19 0 0 0 19
2,691,163.30 0.00 0.00 0.00 2,691,163.30
60 Days 5 0 0 0 5
840,517.74 0.00 0.00 0.00 840,517.74
90 Days 1 0 0 0 1
67,978.74 0.00 0.00 0.00 67,978.74
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 25 0 0 0 25
3,599,659.78 0.00 0.00 0.00 3,599,659.78
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.062975% 0.000000% 0.000000% 0.000000% 2.062975%
2.386006% 0.000000% 0.000000% 0.000000% 2.386006%
60 Days 0.542888% 0.000000% 0.000000% 0.000000% 0.542888%
0.745209% 0.000000% 0.000000% 0.000000% 0.745209%
90 Days 0.108578% 0.000000% 0.000000% 0.000000% 0.108578%
0.060270% 0.000000% 0.000000% 0.000000% 0.060270%
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 2.714441% 0.000000% 0.000000% 0.000000% 2.714441%
3.191486% 0.000000% 0.000000% 0.000000% 3.191486%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Gr 2 Sub-Gr 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 34 0 0 0 34
13,679,630.31 0.00 0.00 0.00 13,679,630.31
60 Days 11 0 0 0 11
3,729,658.01 0.00 0.00 0.00 3,729,658.01
90 Days 1 0 0 0 1
272,000.00 0.00 0.00 0.00 272,000.00
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 46 0 0 0 46
17,681,288.32 0.00 0.00 0.00 17,681,288.32
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.168367% 0.000000% 0.000000% 0.000000% 2.168367%
2.367219% 0.000000% 0.000000% 0.000000% 2.367219%
60 Days 0.701531% 0.000000% 0.000000% 0.000000% 0.701531%
0.645406% 0.000000% 0.000000% 0.000000% 0.645406%
90 Days 0.063776% 0.000000% 0.000000% 0.000000% 0.063776%
0.047069% 0.000000% 0.000000% 0.000000% 0.047069%
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 2.933673% 0.000000% 0.000000% 0.000000% 2.933673%
3.059694% 0.000000% 0.000000% 0.000000% 3.059694%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 249,080.81
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.
Grp 1 Sub-Grp 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.
Gr 1 Sub-Gr 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.
Gr 2 Sub-Gr 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.
Gr 2 Sub-Gr 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.
Grp 1 Sub-Grp 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.
Gr 1 Sub-Gr 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.
Gr 2 Sub-Gr 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.
Gr 2 Sub-Gr 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 & Arm
Weighted Average Gross Coupon 7.229594%
Weighted Average Net Coupon 6.729594%
Weighted Average Pass-Through Rate 6.715593%
Weighted Average Maturity(Stepdown Calculation) 353
Beginning Scheduled Collateral Loan Count 7,152
Number Of Loans Paid In Full 93
Ending Scheduled Collateral Loan Count 7,059
Beginning Scheduled Collateral Balance 1,420,754,873.31
Ending Scheduled Collateral Balance 1,399,206,620.27
Ending Actual Collateral Balance at 30-Sep-2005 1,400,050,563.44
Monthly P&I Constant 9,367,921.36
Special Servicing Fee 0.00
Prepayment Penalties 336,551.76
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 808,194.40
Unscheduled Principal 20,740,058.64
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 11,496,462.30
Overcollateralized Amount 11,496,462.30
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Coupon Rate 7.229594%
Weighted Average Net Rate 6.729594%
Weighted Average Pass Through Rate 6.715593%
Weighted Average Maturity 353
Record Date 09/30/2005
Principal and Interest Constant 9,367,921.36
Beginning Loan Count 7,152
Loans Paid in Full 93
Ending Loan Count 7,059
Beginning Scheduled Balance 1,420,754,873.31
Ending Scheduled Balance 1,399,206,620.27
Ending Actual Balance at 30-Sep-2005 1,400,050,563.44
Scheduled Principal 808,194.40
Unscheduled Principal 20,740,058.64
Scheduled Interest 8,559,726.96
Servicing Fee 591,981.20
Master Servicing Fee 0.00
Trustee Fee 0.00
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 16,575.46
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 7,951,170.30
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Special Servicing Fee 0.00
Prepayment Penalties 336,551.76
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized Reduction Amount 0.00
Specified O/C Amount 11,496,462.30
Overcollateralized Amount 11,496,462.30
Overcollateralized Deficiency Amount 0.00
Base Overcollateralization Amount 0.00
Miscellaneous Reporting
Credit Enhancement Percentage: 25.060099%
Group Level Collateral Statement
Group Grp 1 Sub-Grp 1 Gr 1 Sub-Gr 2 Gr 2 Sub-Gr 2
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 7.664884 7.265596 8.558063
Weighted Average Net Rate 7.164884 6.765596 8.058063
Weighted Average Maturity 343 357 327
Beginning Loan Count 1,494 3,135 932
Loans Paid In Full 14 45 11
Ending Loan Count 1,480 3,090 921
Beginning Scheduled Balance 141,209,496.37 578,494,407.39 113,778,382.93
Ending Scheduled Balance 140,101,783.99 568,817,633.61 112,704,561.29
Record Date 09/30/2005 09/30/2005 09/30/2005
Principal And Interest Constant 1,028,876.16 3,827,491.70 896,941.58
Scheduled Principal 126,914.14 324,902.67 85,506.09
Unscheduled Principal 980,798.24 9,351,871.11 988,315.55
Scheduled Interest 901,962.02 3,502,589.03 811,435.49
Servicing Fees 58,837.29 241,039.34 47,407.66
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 1,647.44 6,749.10 1,327.41
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 841,477.29 3,254,800.59 762,700.42
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 7.150884 6.751596 8.044063
Group Level Collateral Statement
Group Gr 2 Sub-Gr 2 Total
Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 6.832412 7.229594
Weighted Average Net Rate 6.332412 6.729594
Weighted Average Maturity 357 353
Beginning Loan Count 1,591 7,152
Loans Paid In Full 23 93
Ending Loan Count 1,568 7,059
Beginning Scheduled Balance 587,272,586.62 1,420,754,873.31
Ending scheduled Balance 577,582,641.38 1,399,206,620.27
Record Date 09/30/2005 09/30/2005
Principal And Interest Constant 3,614,611.92 9,367,921.36
Scheduled Principal 270,871.50 808,194.40
Unscheduled Principal 9,419,073.74 20,740,058.64
Scheduled Interest 3,343,740.42 8,559,726.96
Servicing Fees 244,696.91 591,981.20
Master Servicing Fees 0.00 0.00
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 6,851.51 16,575.46
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 0.00
Spread 2 0.00 0.00
Spread 3 0.00 0.00
Net Interest 3,092,192.00 7,951,170.30
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 6.318412 6.715593
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>
Grp 1 Sub-Grp 1 14 967,700.00 965,199.07 0 0.00 0.00
Gr 1 Sub-Gr 2 45 9,349,998.00 9,329,015.45 0 0.00 0.00
Gr 2 Sub-Gr 2 11 965,405.00 964,221.03 0 0.00 0.00
Gr 2 Sub-Gr 2 23 9,418,830.00 9,396,552.79 0 0.00 0.00
Total 93 20,701,933.00 20,654,988.34 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>
Grp 1 Sub-Grp 1 0 0.00 0.00 0 0.00 0.00 16,444.63
Gr 1 Sub-Gr 2 0 0.00 0.00 0 0.00 0.00 28,591.04
Gr 2 Sub-Gr 2 0 0.00 0.00 0 0.00 0.00 24,427.31
Gr 2 Sub-Gr 2 0 0.00 0.00 0 0.00 0.00 29,426.87
Total 0 0.00 0.00 0 0.00 0.00 98,889.85
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>
Grp 1 Sub-Grp 1 0110505034 FL 90.00 01-Jul-2005 43,100.00 43,045.30
Grp 1 Sub-Grp 1 0110516531 NY 63.82 01-Jul-2005 217,000.00 216,161.96
Grp 1 Sub-Grp 1 0110517402 MD 100.00 01-Jul-2005 40,000.00 39,928.14
Grp 1 Sub-Grp 1 0110517718 VA 80.00 01-Jul-2005 184,800.00 184,106.52
Grp 1 Sub-Grp 1 0110518468 MD 85.00 01-Jul-2005 204,850.00 204,138.51
Grp 1 Sub-Grp 1 0110518474 GA 100.00 01-Jul-2005 25,000.00 24,964.80
Grp 1 Sub-Grp 1 0110518635 GA 95.00 01-Jul-2005 12,200.00 11,987.70
Grp 1 Sub-Grp 1 0110518779 VA 80.00 01-Jul-2005 50,400.00 50,324.70
Grp 1 Sub-Grp 1 0110519134 WV 100.00 01-Jul-2005 58,000.00 57,932.60
Grp 1 Sub-Grp 1 0110520224 MD 95.00 01-Jul-2005 8,550.00 8,398.99
Grp 1 Sub-Grp 1 0110520532 IL 100.00 01-Jul-2005 42,000.00 41,928.23
Grp 1 Sub-Grp 1 0110520838 CA 92.00 01-Jul-2005 18,000.00 17,916.34
Grp 1 Sub-Grp 1 0110521522 AZ 95.00 01-Jul-2005 8,800.00 8,644.56
Grp 1 Sub-Grp 1 0110522112 NJ 100.00 01-Jul-2005 55,000.00 54,875.26
Gr 1 Sub-Gr 2 0110461971 CA 66.03 01-May-2005 217,252.00 215,701.27
Gr 1 Sub-Gr 2 0110461987 CA 80.00 01-Jun-2005 344,000.00 342,770.25
Gr 1 Sub-Gr 2 0110478582 CA 90.00 01-Jun-2005 175,500.00 175,236.22
Gr 1 Sub-Gr 2 0110478594 CA 75.00 01-Jun-2005 217,500.00 217,050.28
Gr 1 Sub-Gr 2 0110478598 CA 51.61 01-Jun-2005 320,000.00 319,208.18
Gr 1 Sub-Gr 2 0110505154 AZ 83.72 01-Jul-2005 139,391.00 139,039.02
Gr 1 Sub-Gr 2 0110515952 CA 66.46 01-May-2005 216,000.00 216,000.00
Gr 1 Sub-Gr 2 0110516140 NJ 80.00 01-Jul-2005 107,200.00 106,995.34
Gr 1 Sub-Gr 2 0110516391 NJ 100.00 01-Jul-2005 428,000.00 426,792.09
Gr 1 Sub-Gr 2 0110516453 NJ 75.00 01-Jun-2005 232,500.00 232,039.79
Gr 1 Sub-Gr 2 0110516674 CT 80.00 01-May-2005 300,000.00 298,747.03
Gr 1 Sub-Gr 2 0110516862 CA 80.00 01-Jul-2005 408,000.00 406,813.40
Gr 1 Sub-Gr 2 0110517088 HI 65.00 01-Jun-2005 315,900.00 315,246.76
Gr 1 Sub-Gr 2 0110517176 CA 80.00 01-Jul-2005 296,000.00 296,000.00
Gr 1 Sub-Gr 2 0110517296 MD 72.64 01-Jun-2005 192,500.00 190,910.24
Gr 1 Sub-Gr 2 0110517330 AZ 75.00 01-Jun-2005 132,675.00 132,295.59
Gr 1 Sub-Gr 2 0110517408 MD 80.00 01-Jul-2005 160,000.00 159,506.05
Gr 1 Sub-Gr 2 0110517898 FL 80.00 01-Jul-2005 238,000.00 237,457.51
Gr 1 Sub-Gr 2 0110517980 VA 80.00 01-Jul-2005 68,000.00 67,870.72
Gr 1 Sub-Gr 2 0110518305 FL 75.00 01-Jul-2005 69,375.00 69,253.30
Gr 1 Sub-Gr 2 0110518381 SC 80.00 01-Jul-2005 336,000.00 336,000.00
Gr 1 Sub-Gr 2 0110518443 FL 80.00 01-Jul-2005 138,400.00 138,097.30
Gr 1 Sub-Gr 2 0110518645 FL 80.00 01-Jul-2005 192,000.00 191,461.94
Gr 1 Sub-Gr 2 0110518657 FL 90.00 01-Jul-2005 125,910.00 125,565.21
Gr 1 Sub-Gr 2 0110518774 MD 75.20 01-Jun-2005 94,000.00 93,544.99
Gr 1 Sub-Gr 2 0110518987 NJ 80.00 01-May-2005 324,993.00 323,594.32
Gr 1 Sub-Gr 2 0110519196 WV 80.00 01-Jul-2005 232,000.00 231,269.48
Gr 1 Sub-Gr 2 0110520163 NJ 80.00 01-Jul-2005 252,000.00 251,214.30
Gr 1 Sub-Gr 2 0110520312 MD 90.00 01-Jul-2005 153,900.00 153,495.25
Gr 1 Sub-Gr 2 0110520341 WI 80.00 01-Jul-2005 150,400.00 149,991.43
Gr 1 Sub-Gr 2 0110520508 IL 90.00 01-Jul-2005 67,500.00 67,334.68
Gr 1 Sub-Gr 2 0110520622 IL 80.00 01-May-2005 84,000.00 83,620.01
Gr 1 Sub-Gr 2 0110520712 CA 55.84 01-Jul-2005 215,000.00 214,336.24
Gr 1 Sub-Gr 2 0110520815 CA 80.00 01-Jul-2005 320,000.00 319,041.10
Gr 1 Sub-Gr 2 0110521472 MD 59.67 01-Jul-2005 145,000.00 144,781.02
Gr 1 Sub-Gr 2 0110521554 FL 75.00 01-Jul-2005 149,250.00 148,896.07
Gr 1 Sub-Gr 2 0110521752 CA 44.00 01-Jul-2005 77,000.00 76,708.27
Gr 1 Sub-Gr 2 0110522102 AZ 90.00 01-Jul-2005 158,400.00 157,865.69
Gr 1 Sub-Gr 2 0110522128 NJ 80.00 01-Jul-2005 220,000.00 219,397.53
Gr 1 Sub-Gr 2 0110522478 AZ 80.00 01-Jun-2005 184,800.00 184,800.00
Gr 1 Sub-Gr 2 0110522565 CA 75.00 01-May-2005 165,000.00 164,425.80
Gr 1 Sub-Gr 2 0110522570 CA 80.00 01-May-2005 356,800.00 355,202.09
Gr 1 Sub-Gr 2 0110522600 FL 90.00 01-Jun-2005 190,800.00 190,104.18
Gr 1 Sub-Gr 2 0110522613 CA 80.00 01-Jun-2005 313,952.00 312,742.76
Gr 1 Sub-Gr 2 0110524552 OH 90.00 01-Jul-2005 125,100.00 124,857.37
Gr 2 Sub-Gr 2 0110462043 CA 95.00 01-May-2005 225,625.00 225,523.90
Gr 2 Sub-Gr 2 0110502601 AZ 100.00 01-Jun-2005 67,200.00 67,077.68
Gr 2 Sub-Gr 2 0110505029 FL 100.00 01-Jul-2005 46,000.00 45,937.00
Gr 2 Sub-Gr 2 0110517041 CA 100.00 01-Jul-2005 120,000.00 119,815.82
Gr 2 Sub-Gr 2 0110518372 SC 100.00 01-Jul-2005 84,000.00 83,875.20
Gr 2 Sub-Gr 2 0110519309 WA 100.00 01-Jul-2005 50,000.00 49,883.62
Gr 2 Sub-Gr 2 0110519946 IL 90.00 01-Jul-2005 24,600.00 24,394.84
Gr 2 Sub-Gr 2 0110520703 CA 100.00 01-Jul-2005 101,980.00 101,832.22
Gr 2 Sub-Gr 2 0110522474 CA 95.00 01-Jun-2005 84,000.00 83,843.29
Gr 2 Sub-Gr 2 0110522561 VA 100.00 01-May-2005 97,000.00 96,787.15
Gr 2 Sub-Gr 2 0110544001 CA 100.00 01-Aug-2005 65,000.00 64,917.52
Gr 2 Sub-Gr 2 0110330277 RI 80.00 01-Oct-2004 180,000.00 178,179.07
Gr 2 Sub-Gr 2 0110478635 CA 69.89 01-Jul-2005 506,000.00 504,915.57
Gr 2 Sub-Gr 2 0110502600 AZ 80.00 01-Jun-2005 268,800.00 267,578.87
Gr 2 Sub-Gr 2 0110505137 CA 59.87 01-Jul-2005 470,000.00 468,023.02
Gr 2 Sub-Gr 2 0110505148 FL 80.00 01-Jul-2005 184,000.00 184,000.00
Gr 2 Sub-Gr 2 0110516494 NJ 80.00 01-Jul-2005 344,000.00 343,019.38
Gr 2 Sub-Gr 2 0110516920 CA 80.00 01-Jul-2005 431,200.00 430,143.93
Gr 2 Sub-Gr 2 0110517066 CA 80.00 01-Jul-2005 480,000.00 478,488.57
Gr 2 Sub-Gr 2 0110517662 FL 80.00 01-May-2005 600,000.00 597,120.73
Gr 2 Sub-Gr 2 0110517796 FL 80.00 01-Jul-2005 300,000.00 299,127.50
Gr 2 Sub-Gr 2 0110518123 FL 90.00 01-Jul-2005 190,710.00 190,233.26
Gr 2 Sub-Gr 2 0110519075 FL 80.00 01-Mar-2005 80,000.00 79,692.72
Gr 2 Sub-Gr 2 0110520006 IL 85.00 01-Jul-2005 418,200.00 416,917.11
Gr 2 Sub-Gr 2 0110520494 IL 64.98 01-Jun-2005 541,000.00 541,000.00
Gr 2 Sub-Gr 2 0110520704 CA 80.00 01-Jul-2005 407,920.00 406,544.07
Gr 2 Sub-Gr 2 0110521276 CA 65.00 01-Jul-2005 364,000.00 362,539.62
Gr 2 Sub-Gr 2 0110521392 CA 75.00 01-Jul-2005 412,500.00 412,500.00
Gr 2 Sub-Gr 2 0110521506 CA 71.43 01-Jul-2005 750,000.00 747,614.96
Gr 2 Sub-Gr 2 0110521585 CA 84.55 01-Jul-2005 558,000.00 556,225.55
Gr 2 Sub-Gr 2 0110522480 CA 80.00 01-Jun-2005 448,000.00 445,933.15
Gr 2 Sub-Gr 2 0110524554 CA 80.00 01-Jul-2005 412,000.00 410,603.52
Gr 2 Sub-Gr 2 0110538128 CA 65.00 01-Jul-2005 812,500.00 809,890.66
Gr 2 Sub-Gr 2 0110544002 CA 80.00 01-Aug-2005 260,000.00 259,355.61
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>
Grp 1 Sub-Grp 1 0110505034 Loan Paid in Full 0 11.600% 180 3
Grp 1 Sub-Grp 1 0110516531 Loan Paid in Full (1) 6.200% 360 3
Grp 1 Sub-Grp 1 0110517402 Loan Paid in Full 0 9.990% 360 3
Grp 1 Sub-Grp 1 0110517718 Loan Paid in Full 0 6.350% 360 3
Grp 1 Sub-Grp 1 0110518468 Loan Paid in Full 0 6.750% 360 3
Grp 1 Sub-Grp 1 0110518474 Loan Paid in Full 0 11.125% 360 3
Grp 1 Sub-Grp 1 0110518635 Loan Paid in Full 0 12.250% 120 3
Grp 1 Sub-Grp 1 0110518779 Loan Paid in Full 0 10.850% 360 3
Grp 1 Sub-Grp 1 0110519134 Loan Paid in Full 0 12.000% 360 3
Grp 1 Sub-Grp 1 0110520224 Loan Paid in Full 0 11.990% 120 3
Grp 1 Sub-Grp 1 0110520532 Loan Paid in Full 0 10.225% 360 3
Grp 1 Sub-Grp 1 0110520838 Loan Paid in Full 0 10.875% 240 3
Grp 1 Sub-Grp 1 0110521522 Loan Paid in Full 0 11.990% 120 3
Grp 1 Sub-Grp 1 0110522112 Loan Paid in Full 0 8.875% 360 3
Gr 1 Sub-Gr 2 0110461971 Loan Paid in Full 0 6.700% 360 5
Gr 1 Sub-Gr 2 0110461987 Loan Paid in Full 1 7.750% 360 4
Gr 1 Sub-Gr 2 0110478582 Loan Paid in Full 0 9.450% 360 4
Gr 1 Sub-Gr 2 0110478594 Loan Paid in Full 0 7.900% 360 4
Gr 1 Sub-Gr 2 0110478598 Loan Paid in Full 0 7.800% 360 4
Gr 1 Sub-Gr 2 0110505154 Loan Paid in Full 0 8.350% 360 3
Gr 1 Sub-Gr 2 0110515952 Loan Paid in Full 0 7.375% 360 5
Gr 1 Sub-Gr 2 0110516140 Loan Paid in Full 0 9.700% 360 3
Gr 1 Sub-Gr 2 0110516391 Loan Paid in Full 0 7.800% 360 3
Gr 1 Sub-Gr 2 0110516453 Loan Paid in Full 2 10.600% 360 4
Gr 1 Sub-Gr 2 0110516674 Loan Paid in Full 0 7.900% 360 5
Gr 1 Sub-Gr 2 0110516862 Loan Paid in Full 0 7.650% 360 3
Gr 1 Sub-Gr 2 0110517088 Loan Paid in Full 0 10.400% 360 4
Gr 1 Sub-Gr 2 0110517176 Loan Paid in Full 0 6.590% 360 3
Gr 1 Sub-Gr 2 0110517296 Loan Paid in Full 0 6.300% 360 4
Gr 1 Sub-Gr 2 0110517330 Loan Paid in Full 0 8.850% 360 4
Gr 1 Sub-Gr 2 0110517408 Loan Paid in Full 0 7.350% 360 3
Gr 1 Sub-Gr 2 0110517898 Loan Paid in Full 0 8.850% 360 3
Gr 1 Sub-Gr 2 0110517980 Loan Paid in Full 0 9.720% 360 3
Gr 1 Sub-Gr 2 0110518305 Loan Paid in Full 0 10.100% 360 3
Gr 1 Sub-Gr 2 0110518381 Loan Paid in Full 0 6.900% 360 3
Gr 1 Sub-Gr 2 0110518443 Loan Paid in Full 0 9.050% 360 3
Gr 1 Sub-Gr 2 0110518645 Loan Paid in Full 0 7.900% 360 3
Gr 1 Sub-Gr 2 0110518657 Loan Paid in Full 0 7.950% 360 3
Gr 1 Sub-Gr 2 0110518774 Loan Paid in Full 0 6.200% 360 4
Gr 1 Sub-Gr 2 0110518987 Loan Paid in Full 0 7.750% 360 5
Gr 1 Sub-Gr 2 0110519196 Loan Paid in Full 0 7.250% 360 3
Gr 1 Sub-Gr 2 0110520163 Loan Paid in Full 0 7.300% 360 3
Gr 1 Sub-Gr 2 0110520312 Loan Paid in Full 0 8.150% 360 3
Gr 1 Sub-Gr 2 0110520341 Loan Paid in Full 0 7.990% 360 3
Gr 1 Sub-Gr 2 0110520508 Loan Paid in Full 0 8.500% 360 3
Gr 1 Sub-Gr 2 0110520622 Loan Paid in Full 0 7.500% 360 5
Gr 1 Sub-Gr 2 0110520712 Loan Paid in Full 0 7.350% 360 3
Gr 1 Sub-Gr 2 0110520815 Loan Paid in Full 0 7.500% 360 3
Gr 1 Sub-Gr 2 0110521472 Loan Paid in Full 0 10.800% 360 3
Gr 1 Sub-Gr 2 0110521554 Loan Paid in Full 0 8.750% 360 3
Gr 1 Sub-Gr 2 0110521752 Loan Paid in Full 0 6.300% 360 3
Gr 1 Sub-Gr 2 0110522102 Loan Paid in Full 0 6.900% 360 3
Gr 1 Sub-Gr 2 0110522128 Loan Paid in Full 0 7.950% 360 3
Gr 1 Sub-Gr 2 0110522478 Loan Paid in Full 0 5.600% 360 4
Gr 1 Sub-Gr 2 0110522565 Loan Paid in Full 0 8.800% 360 5
Gr 1 Sub-Gr 2 0110522570 Loan Paid in Full 0 7.550% 360 5
Gr 1 Sub-Gr 2 0110522600 Loan Paid in Full 0 7.650% 360 4
Gr 1 Sub-Gr 2 0110522613 Loan Paid in Full 0 7.375% 360 4
Gr 1 Sub-Gr 2 0110524552 Loan Paid in Full 0 9.625% 360 3
Gr 2 Sub-Gr 2 0110462043 Loan Paid in Full 0 6.500% 360 5
Gr 2 Sub-Gr 2 0110502601 Loan Paid in Full 0 10.990% 360 4
Gr 2 Sub-Gr 2 0110505029 Loan Paid in Full 0 11.250% 180 3
Gr 2 Sub-Gr 2 0110517041 Loan Paid in Full 0 10.725% 360 3
Gr 2 Sub-Gr 2 0110518372 Loan Paid in Full 0 10.875% 360 3
Gr 2 Sub-Gr 2 0110519309 Loan Paid in Full 0 8.750% 360 3
Gr 2 Sub-Gr 2 0110519946 Loan Paid in Full 0 11.990% 180 3
Gr 2 Sub-Gr 2 0110520703 Loan Paid in Full 0 10.990% 360 3
Gr 2 Sub-Gr 2 0110522474 Loan Paid in Full 0 10.875% 360 4
Gr 2 Sub-Gr 2 0110522561 Loan Paid in Full 0 10.990% 360 5
Gr 2 Sub-Gr 2 0110544001 Loan Paid in Full 0 10.250% 180 2
Gr 2 Sub-Gr 2 0110330277 Loan Paid in Full 1 7.450% 360 12
Gr 2 Sub-Gr 2 0110478635 Loan Paid in Full 0 5.625% 360 3
Gr 2 Sub-Gr 2 0110502600 Loan Paid in Full 0 6.661% 360 4
Gr 2 Sub-Gr 2 0110505137 Loan Paid in Full 0 5.750% 360 3
Gr 2 Sub-Gr 2 0110505148 Loan Paid in Full 0 7.550% 360 3
Gr 2 Sub-Gr 2 0110516494 Loan Paid in Full 0 7.750% 360 3
Gr 2 Sub-Gr 2 0110516920 Loan Paid in Full 0 8.500% 360 3
Gr 2 Sub-Gr 2 0110517066 Loan Paid in Full 0 7.250% 360 3
Gr 2 Sub-Gr 2 0110517662 Loan Paid in Full 0 7.200% 360 5
Gr 2 Sub-Gr 2 0110517796 Loan Paid in Full 0 7.650% 360 3
Gr 2 Sub-Gr 2 0110518123 Loan Paid in Full 1 8.400% 360 3
Gr 2 Sub-Gr 2 0110519075 Loan Paid in Full 0 9.750% 360 7
Gr 2 Sub-Gr 2 0110520006 Loan Paid in Full 0 7.650% 360 3
Gr 2 Sub-Gr 2 0110520494 Loan Paid in Full 0 6.500% 360 4
Gr 2 Sub-Gr 2 0110520704 Loan Paid in Full 0 6.900% 360 3
Gr 2 Sub-Gr 2 0110521276 Loan Paid in Full 0 6.000% 360 3
Gr 2 Sub-Gr 2 0110521392 Loan Paid in Full 0 5.950% 360 3
Gr 2 Sub-Gr 2 0110521506 Loan Paid in Full 0 7.200% 360 3
Gr 2 Sub-Gr 2 0110521585 Loan Paid in Full 0 7.200% 360 3
Gr 2 Sub-Gr 2 0110522480 Loan Paid in Full 0 6.450% 360 4
Gr 2 Sub-Gr 2 0110524554 Loan Paid in Full 0 6.875% 360 3
Gr 2 Sub-Gr 2 0110538128 Loan Paid in Full 0 7.150% 360 3
Gr 2 Sub-Gr 2 0110544002 Loan Paid in Full 0 6.990% 360 2
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.461% Current Month 16.186% Current Month 2,484.419%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 12.202% N/A Sep-2005 2,698.019% N/A
Oct-2005 16.186% N/A Oct-2005 2,484.419% 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.
Grp 1 Sub-Grp 1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.695% Current Month 8.031% Current Month 1,256.509%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 2.706% N/A Sep-2005 616.613% N/A
Oct-2005 8.031% N/A Oct-2005 1,256.509% 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.
Gr 1 Sub-Gr 2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.617% Current Month 17.773% Current Month 2,727.972%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 11.758% N/A Sep-2005 2,596.959% N/A
Oct-2005 17.773% N/A Oct-2005 2,727.972% 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.
Gr 2 Sub-Gr 2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.869% Current Month 9.947% Current Month 1,551.405%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 3.339% N/A Sep-2005 755.363% N/A
Oct-2005 9.947% N/A Oct-2005 1,551.405% 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.
Gr 2 Sub-Gr 2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.605% Current Month 17.644% Current Month 2,687.571%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 16.319% N/A Sep-2005 3,571.030% N/A
Oct-2005 17.644% N/A Oct-2005 2,687.571% 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>
Grp 1 Sub-Grp 1 0 0.00 0.00 0.000%
Gr 1 Sub-Gr 2 0 0.00 0.00 0.000%
Gr 2 Sub-Gr 2 0 0.00 0.00 0.000%
Gr 2 Sub-Gr 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A 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.
Grp 1 Sub-Grp 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A 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.
Gr 1 Sub-Gr 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A 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.
Gr 2 Sub-Gr 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A 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.
Gr 2 Sub-Gr 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A 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 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A 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>