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-SL1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-123741-07
Pooling and Servicing Agreement) (Commission 54-2182224
(State or other File Number) 54-2182225
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-SL1 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-SL1 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-SL1 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-SL1 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-SL1
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-1A 004421RT2 SEN 4.03000% 148,459,656.60 481,957.78
A-1B 004421RU9 SEN 5.11000% 25,000,000.00 106,458.33
M-1 004421RV7 SEN 5.37000% 24,537,000.00 109,803.08
M-2 004421RW5 SEN 5.76000% 13,560,000.00 65,088.00
M-3 004421RX3 SEN 5.86000% 5,811,000.00 28,377.05
M-4 004421RY1 SEN 6.11000% 5,940,000.00 30,244.50
M-5 004421RZ8 SEN 6.21000% 5,424,000.00 28,069.20
M-6 004421SA2 SEN 6.36000% 4,778,000.00 25,323.40
M-7 004421SB0 SEN 6.50000% 5,036,000.00 27,278.33
B-1 004421SC8 SEN 6.00000% 4,649,000.00 23,245.00
B-2 004421SD6 SEN 6.00000% 4,262,000.00 21,310.00
P ACE05SL1P SEN 0.00000% 100.00 67,395.02
CE-1 ACE05SLC1 SEN 0.00000% 3,740,361.31 0.00
CE-2 ACE05SLC2 SEN 0.00000% 0.00 46,681.34
R ACE05SLR1 SEN 0.00000% 0.00 0.00
Totals 251,197,117.91 1,061,231.03
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1A 8,096,439.53 0.00 140,363,217.07 8,578,397.31 0.00
A-1B 0.00 0.00 25,000,000.00 106,458.33 0.00
M-1 0.00 0.00 24,537,000.00 109,803.08 0.00
M-2 0.00 0.00 13,560,000.00 65,088.00 0.00
M-3 0.00 0.00 5,811,000.00 28,377.05 0.00
M-4 0.00 0.00 5,940,000.00 30,244.50 0.00
M-5 0.00 0.00 5,424,000.00 28,069.20 0.00
M-6 0.00 0.00 4,778,000.00 25,323.40 0.00
M-7 0.00 0.00 5,036,000.00 27,278.33 0.00
B-1 0.00 0.00 4,649,000.00 23,245.00 0.00
B-2 0.00 0.00 4,262,000.00 21,310.00 0.00
P 0.00 0.00 100.00 67,395.02 0.00
CE-1 0.00 0.00 4,831,190.31 0.00 0.00
CE-2 0.00 0.00 0.00 46,681.34 0.00
R 0.00 0.00 0.00 0.00 0.00
Totals 8,096,439.53 0.00 244,191,507.38 9,157,670.56 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-1A 156,701,000.00 148,459,656.60 0.00 8,096,439.53 0.00 0.00
A-1B 25,000,000.00 25,000,000.00 0.00 0.00 0.00 0.00
M-1 24,537,000.00 24,537,000.00 0.00 0.00 0.00 0.00
M-2 13,560,000.00 13,560,000.00 0.00 0.00 0.00 0.00
M-3 5,811,000.00 5,811,000.00 0.00 0.00 0.00 0.00
M-4 5,940,000.00 5,940,000.00 0.00 0.00 0.00 0.00
M-5 5,424,000.00 5,424,000.00 0.00 0.00 0.00 0.00
M-6 4,778,000.00 4,778,000.00 0.00 0.00 0.00 0.00
M-7 5,036,000.00 5,036,000.00 0.00 0.00 0.00 0.00
B-1 4,649,000.00 4,649,000.00 0.00 0.00 0.00 0.00
B-2 4,262,000.00 4,262,000.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
CE-1 2,583,241.00 3,740,361.31 0.00 0.00 0.00 0.00
CE-2 0.00 0.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 258,281,341.00 251,197,117.91 0.00 8,096,439.53 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-1A 8,096,439.53 140,363,217.07 0.89573913 8,096,439.53
A-1B 0.00 25,000,000.00 1.00000000 0.00
M-1 0.00 24,537,000.00 1.00000000 0.00
M-2 0.00 13,560,000.00 1.00000000 0.00
M-3 0.00 5,811,000.00 1.00000000 0.00
M-4 0.00 5,940,000.00 1.00000000 0.00
M-5 0.00 5,424,000.00 1.00000000 0.00
M-6 0.00 4,778,000.00 1.00000000 0.00
M-7 0.00 5,036,000.00 1.00000000 0.00
B-1 0.00 4,649,000.00 1.00000000 0.00
B-2 0.00 4,262,000.00 1.00000000 0.00
P 0.00 100.00 1.00000000 0.00
CE-1 0.00 4,831,190.31 1.87020503 0.00
CE-2 0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 8,096,439.53 244,191,507.38 0.94544773 8,096,439.53
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-1A 156,701,000.00 947.40720608 0.00000000 51.66807825 0.00000000
A-1B 25,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 24,537,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 13,560,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 5,811,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 5,940,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 5,424,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 4,778,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-7 5,036,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 4,649,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-2 4,262,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE-1 2,583,241.00 1447.93354937 0.00000000 0.00000000 0.00000000
CE-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R 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-1A 0.00000000 51.66807825 895.73912783 0.89573913 51.66807825
A-1B 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
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
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE-1 0.00000000 0.00000000 1,870.20502926 1.87020503 0.00000000
CE-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R 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-1A 156,701,000.00 4.03000% 148,459,656.60 481,957.78 0.00 0.00
A-1B 25,000,000.00 5.11000% 25,000,000.00 106,458.33 0.00 0.00
M-1 24,537,000.00 5.37000% 24,537,000.00 109,803.08 0.00 0.00
M-2 13,560,000.00 5.76000% 13,560,000.00 65,088.00 0.00 0.00
M-3 5,811,000.00 5.86000% 5,811,000.00 28,377.05 0.00 0.00
M-4 5,940,000.00 6.11000% 5,940,000.00 30,244.50 0.00 0.00
M-5 5,424,000.00 6.21000% 5,424,000.00 28,069.20 0.00 0.00
M-6 4,778,000.00 6.36000% 4,778,000.00 25,323.40 0.00 0.00
M-7 5,036,000.00 6.50000% 5,036,000.00 27,278.33 0.00 0.00
B-1 4,649,000.00 6.00000% 4,649,000.00 23,245.00 0.00 0.00
B-2 4,262,000.00 6.00000% 4,262,000.00 21,310.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
CE-1 2,583,241.00 0.00000% 251,197,118.20 0.00 0.00 0.00
CE-2 0.00 0.00000% 0.00 0.00 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 258,281,341.00 947,154.67 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-1A 0.00 0.00 481,957.78 0.00 140,363,217.07
A-1B 0.00 0.00 106,458.33 0.00 25,000,000.00
M-1 0.00 0.00 109,803.08 0.00 24,537,000.00
M-2 0.00 0.00 65,088.00 0.00 13,560,000.00
M-3 0.00 0.00 28,377.05 0.00 5,811,000.00
M-4 0.00 0.00 30,244.50 0.00 5,940,000.00
M-5 0.00 0.00 28,069.20 0.00 5,424,000.00
M-6 0.00 0.00 25,323.40 0.00 4,778,000.00
M-7 0.00 0.00 27,278.33 0.00 5,036,000.00
B-1 0.00 0.00 23,245.00 0.00 4,649,000.00
B-2 0.00 0.00 21,310.00 0.00 4,262,000.00
P 0.00 0.00 67,395.02 0.00 100.00
CE-1 0.00 0.00 0.00 0.00 244,191,507.38
CE-2 0.00 0.00 46,681.34 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 1,061,231.03 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-1A 156,701,000.00 4.03000% 947.40720608 3.07565223 0.00000000 0.00000000
A-1B 25,000,000.00 5.11000% 1000.00000000 4.25833320 0.00000000 0.00000000
M-1 24,537,000.00 5.37000% 1000.00000000 4.47500020 0.00000000 0.00000000
M-2 13,560,000.00 5.76000% 1000.00000000 4.80000000 0.00000000 0.00000000
M-3 5,811,000.00 5.86000% 1000.00000000 4.88333333 0.00000000 0.00000000
M-4 5,940,000.00 6.11000% 1000.00000000 5.09166667 0.00000000 0.00000000
M-5 5,424,000.00 6.21000% 1000.00000000 5.17500000 0.00000000 0.00000000
M-6 4,778,000.00 6.36000% 1000.00000000 5.30000000 0.00000000 0.00000000
M-7 5,036,000.00 6.50000% 1000.00000000 5.41666600 0.00000000 0.00000000
B-1 4,649,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000
B-2 4,262,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
CE-1 2,583,241.00 0.00000% 97241.06972598 0.00000000 0.00000000 0.00000000
CE-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R 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-1A 0.00000000 0.00000000 3.07565223 0.00000000 895.73912783
A-1B 0.00000000 0.00000000 4.25833320 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 4.47500020 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 4.80000000 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 4.88333333 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 5.09166667 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 5.17500000 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 5.30000000 0.00000000 1000.00000000
M-7 0.00000000 0.00000000 5.41666600 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000
P 0.00000000 0.00000000 673950.20000000 0.00000000 1000.00000000
CE-1 0.00000000 0.00000000 0.00000000 0.00000000 94529.12344609
CE-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R 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 9,135,221.60
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 41,611.82
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 67,395.02
Total Deposits 9,244,228.44
Withdrawals
Reimbursement for Servicer Advances 19,153.64
Payment of Service Fee 67,404.24
Payment of Interest and Principal 9,157,670.56
Total Withdrawals (Pool Distribution Amount) 9,244,228.44
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 57,984.10
Credit Risk Manager Fee - Murray Hill 3,140.01
Wells Fargo Master Servicing Fee 6,280.13
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 67,404.24
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 58 0 0 0 58
2,748,871.75 0.00 0.00 0.00 2,748,871.75
60 Days 28 0 0 0 28
1,414,448.62 0.00 0.00 0.00 1,414,448.62
90 Days 7 0 0 0 7
347,768.52 0.00 0.00 0.00 347,768.52
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 93 0 0 0 93
4,511,088.89 0.00 0.00 0.00 4,511,088.89
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 1.162092% 0.000000% 0.000000% 0.000000% 1.162092%
1.125102% 0.000000% 0.000000% 0.000000% 1.125102%
60 Days 0.561010% 0.000000% 0.000000% 0.000000% 0.561010%
0.578928% 0.000000% 0.000000% 0.000000% 0.578928%
90 Days 0.140252% 0.000000% 0.000000% 0.000000% 0.140252%
0.142340% 0.000000% 0.000000% 0.000000% 0.142340%
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 1.863354% 0.000000% 0.000000% 0.000000% 1.863354%
1.846371% 0.000000% 0.000000% 0.000000% 1.846371%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 41,611.82
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current
Original $ Original % Current $ Current % Class% Prepayment%
<s> <c> <c> <c> <c> <c> <c> <c>
Class CE-1 255,698,100.00 98.99983445% 239,360,317.07 98.02155678% 1.978443% 0.000000%
Class B-2 251,436,100.00 97.34969589% 235,098,317.07 96.27620534% 1.745351% 0.000000%
Class B-1 246,787,100.00 95.54972072% 230,449,317.07 94.37237173% 1.903834% 0.000000%
Class M-4 225,609,100.00 87.35013498% 209,271,317.07 85.69967044% 2.432517% 0.000000%
Class M-3 219,798,100.00 85.10026282% 203,460,317.07 83.31998080% 2.379690% 0.000000%
Class M-2 206,238,100.00 79.85017392% 189,900,317.07 77.76696213% 5.553019% 0.000000%
Class M-1 181,701,100.00 70.35006838% 165,363,317.07 67.71870113% 10.048261% 0.000000%
Class A1-B 156,701,100.00 60.67070095% 140,363,317.07 57.48083485% 10.237866% 0.000000%
Class A1-A 100.00 0.00003872% 100.00 0.00004095% 57.480794% 0.000000%
Class P 0.00 0.00000000% 0.00 0.00000000% 0.000041% 0.000000%
Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
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.
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.
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 10.280701%
Weighted Average Net Coupon 10.003703%
Weighted Average Pass-Through Rate 9.958702%
Weighted Average Maturity(Stepdown Calculation) 317
Beginning Scheduled Collateral Loan Count 5,106
Number Of Loans Paid In Full 115
Ending Scheduled Collateral Loan Count 4,991
Beginning Scheduled Collateral Balance 251,197,118.20
Ending Scheduled Collateral Balance 244,191,507.38
Ending Actual Collateral Balance at 30-Sep-2005 244,321,957.85
Monthly P&I Constant 2,301,398.21
Special Servicing Fee 0.00
Prepayment Penalties 67,395.02
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 147,132.75
Unscheduled Principal 6,858,478.07
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 1,090,828.71
Overcollateralized reduction Amount 0.00
Specified O/C Amount 14,980,317.79
Overcollateralized Amount 4,831,190.31
Overcollateralized Deficiency Amount 10,149,127.48
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 1,090,828.71
Excess Cash Amount 0.00
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>
Total 115 6,848,348.00 6,802,889.34 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>
Total 0 0.00 0.00 0 0.00 0.00 59,579.99
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>
Summary 0110436383 NM 100.00 01-Mar-2005 31,807.00 31,708.09
Summary 0110436387 CA 100.00 01-Mar-2005 88,741.00 88,300.06
Summary 0110436527 AZ 100.00 01-Apr-2005 29,678.00 29,546.69
Summary 0110436536 CA 100.00 01-Apr-2005 49,900.00 48,992.43
Summary 0110442080 MD 94.99 01-Apr-2005 73,450.00 73,205.72
Summary 0110442111 CA 100.00 01-Apr-2005 45,357.00 45,156.09
Summary 0110443482 CT 100.00 01-May-2005 48,500.00 48,395.24
Summary 0110443489 MD 93.83 01-May-2005 50,000.00 49,916.71
Summary 0110443509 MD 98.01 01-May-2005 20,000.00 19,966.85
Summary 0110449404 TX 100.00 01-May-2005 31,060.00 31,011.01
Summary 0110452097 WA 90.00 01-Apr-2005 23,500.00 23,425.69
Summary 0110456399 AZ 100.00 01-Apr-2005 46,900.00 46,758.71
Summary 0110456463 GA 100.00 01-May-2005 50,484.00 50,367.37
Summary 0110457122 AZ 100.00 01-May-2005 39,443.00 39,317.90
Summary 0110457880 VA 86.68 01-May-2005 60,000.00 59,754.38
Summary 0110463110 NV 100.00 01-May-2005 106,645.00 106,385.06
Summary 0110463375 CA 100.00 01-Dec-2004 83,905.00 83,444.65
Summary 0110463428 AZ 100.00 01-May-2005 34,312.00 34,222.69
Summary 0110463562 OR 100.00 01-Apr-2005 48,500.00 48,375.53
Summary 0110463572 CA 100.00 01-Apr-2005 101,000.00 100,719.14
Summary 0110463626 NJ 100.00 01-Apr-2005 125,000.00 124,670.50
Summary 0110463798 CA 100.00 01-Apr-2005 59,000.00 56,815.97
Summary 0110463829 CA 100.00 01-Apr-2005 50,000.00 49,799.31
Summary 0110463836 CA 100.00 01-Apr-2005 77,980.00 77,674.37
Summary 0110463934 CA 100.00 01-Apr-2005 104,000.00 103,678.35
Summary 0110463961 FL 100.00 01-Apr-2005 29,580.00 29,457.60
Summary 0110463974 FL 100.00 01-Apr-2005 25,700.00 25,420.17
Summary 0110464006 CA 100.00 01-Apr-2005 86,400.00 86,095.33
Summary 0110464018 WA 100.00 01-Apr-2005 47,850.00 47,713.29
Summary 0110464195 GA 100.00 01-Apr-2005 56,000.00 55,860.13
Summary 0110464199 FL 100.00 01-Apr-2005 45,500.00 45,370.74
Summary 0110464225 MD 100.00 01-Apr-2005 29,800.00 29,658.73
Summary 0110464289 MD 100.00 01-Apr-2005 41,200.00 40,548.01
Summary 0110464300 FL 100.00 01-Apr-2005 44,000.00 43,863.88
Summary 0110464319 FL 100.00 01-Apr-2005 22,750.00 22,529.37
Summary 0110464341 FL 100.00 01-Apr-2005 49,800.00 49,668.74
Summary 0110464385 MD 100.00 01-Apr-2005 133,530.00 133,187.30
Summary 0110464505 NV 100.00 01-Apr-2005 41,685.00 41,556.98
Summary 0110464529 UT 100.00 01-Apr-2005 97,000.00 96,619.84
Summary 0110464549 CA 100.00 01-Mar-2005 48,400.00 47,937.47
Summary 0110464562 CA 100.00 01-Mar-2005 39,600.00 39,483.02
Summary 0110464579 MD 100.00 01-Jan-2005 46,000.00 45,759.30
Summary 0110464589 FL 100.00 01-Apr-2005 34,900.00 34,820.06
Summary 0110464613 CO 100.00 01-Apr-2005 74,184.00 73,947.94
Summary 0110464632 PA 100.00 01-Apr-2005 31,000.00 30,667.23
Summary 0110464885 FL 95.00 01-Apr-2005 16,250.00 15,975.09
Summary 0110464920 NY 100.00 01-Apr-2005 90,000.00 89,705.03
Summary 0110465025 IL 100.00 01-Feb-2005 26,400.00 26,296.81
Summary 0110465184 CA 95.00 01-Apr-2005 19,000.00 18,685.38
Summary 0110465244 CA 100.00 01-Apr-2005 84,000.00 83,740.17
Summary 0110465250 AZ 95.00 01-Apr-2005 7,600.00 6,932.79
Summary 0110465267 CA 100.00 01-Apr-2005 58,000.00 57,713.19
Summary 0110465283 CA 100.00 01-Apr-2005 125,000.00 124,581.54
Summary 0110465304 CA 95.00 01-Apr-2005 13,304.00 12,880.89
Summary 0110465316 AZ 100.00 01-Apr-2005 31,100.00 31,013.47
Summary 0110465446 MD 95.00 01-Apr-2005 8,000.00 7,738.36
Summary 0110465817 CA 94.69 01-May-2005 152,494.00 151,957.85
Summary 0110465839 TX 99.67 01-Apr-2005 32,620.00 32,531.65
Summary 0110465842 CA 100.00 01-Feb-2005 145,681.00 144,918.11
Summary 0110465843 AZ 100.00 01-Feb-2005 25,472.00 25,403.71
Summary 0110466348 CA 87.59 01-Jun-2005 250,000.00 248,750.06
Summary 0110466451 CA 89.79 01-Jun-2005 60,000.00 59,744.47
Summary 0110466537 MI 88.03 01-Jun-2005 100,000.00 99,760.37
Summary 0110466560 MA 95.00 01-Jun-2005 40,500.00 40,363.68
Summary 0110466561 NY 95.00 01-Jun-2005 26,250.00 26,163.84
Summary 0110466752 CA 100.00 01-May-2005 85,000.00 84,840.15
Summary 0110466768 IL 100.00 01-May-2005 60,000.00 59,821.22
Summary 0110466810 AZ 100.00 01-May-2005 52,000.00 51,894.47
Summary 0110466848 AZ 100.00 01-May-2005 40,400.00 40,328.06
Summary 0110466911 CA 100.00 01-May-2005 77,905.00 77,647.49
Summary 0110466936 CA 100.00 01-May-2005 34,000.00 33,915.31
Summary 0110467004 WI 100.00 01-May-2005 71,200.00 71,077.38
Summary 0110467055 TX 100.00 01-Mar-2005 25,240.00 25,146.04
Summary 0110467109 CA 100.00 01-May-2005 50,000.00 49,905.99
Summary 0110467126 CA 100.00 01-May-2005 119,000.00 118,687.53
Summary 0110467142 AZ 100.00 01-May-2005 27,000.00 26,623.51
Summary 0110467231 FL 100.00 01-May-2005 37,740.00 37,649.95
Summary 0110467235 NV 100.00 01-Feb-2005 33,000.00 32,918.95
Summary 0110467259 UT 100.00 01-May-2005 17,900.00 17,867.42
Summary 0110467332 NY 100.00 01-Jan-2005 92,000.00 91,643.08
Summary 0110467378 FL 100.00 01-Jan-2005 63,200.00 62,979.75
Summary 0110467385 WA 100.00 01-May-2005 32,000.00 31,922.79
Summary 0110467505 FL 100.00 01-Jan-2005 60,000.00 59,749.22
Summary 0110467544 NJ 100.00 01-Feb-2005 29,400.00 29,307.15
Summary 0110467618 WI 100.00 01-May-2005 30,800.00 30,746.93
Summary 0110467621 CA 100.00 01-May-2005 127,204.00 126,943.03
Summary 0110467634 CA 100.00 01-May-2005 113,000.00 112,712.60
Summary 0110467635 CA 100.00 01-May-2005 112,000.00 111,777.60
Summary 0110467734 CA 100.00 01-May-2005 77,000.00 76,786.84
Summary 0110467787 IL 100.00 01-May-2005 36,150.00 36,071.66
Summary 0110467813 CA 100.00 01-Apr-2005 142,800.00 142,471.19
Summary 0110467859 NV 100.00 01-May-2005 36,164.00 36,098.91
Summary 0110468080 FL 100.00 01-May-2005 27,180.00 27,083.12
Summary 0110468101 FL 100.00 01-Feb-2005 33,000.00 32,875.42
Summary 0110468178 IL 100.00 01-May-2005 54,000.00 53,856.66
Summary 0110468286 UT 100.00 01-Jan-2005 35,000.00 34,867.03
Summary 0110468449 CA 100.00 01-Jan-2005 86,000.00 85,703.47
Summary 0110468557 CA 100.00 01-May-2005 52,312.00 52,162.52
Summary 0110468653 MI 100.00 01-May-2005 26,380.00 26,336.99
Summary 0110468666 GA 100.00 01-May-2005 71,980.00 71,767.77
Summary 0110468677 CA 100.00 01-May-2005 144,000.00 143,674.43
Summary 0110468871 CA 100.00 01-Jan-2005 81,800.00 81,557.72
Summary 0110468985 FL 100.00 01-Dec-2004 32,939.00 32,790.10
Summary 0110469062 CA 100.00 01-May-2005 127,400.00 127,170.71
Summary 0110469096 IL 100.00 01-May-2005 69,750.00 69,608.44
Summary 0110469117 IL 100.00 01-May-2005 37,600.00 37,533.02
Summary 0110469222 CA 100.00 01-Jan-2005 77,000.00 76,731.24
Summary 0110469318 CA 100.00 01-May-2005 49,200.00 26,953.82
Summary 0110469353 IL 100.00 01-May-2005 36,200.00 36,124.52
Summary 0110469385 FL 100.00 01-May-2005 49,600.00 49,486.79
Summary 0110469471 CA 100.00 01-Apr-2005 60,600.00 60,261.53
Summary 0110469484 CA 100.00 01-May-2005 75,000.00 74,858.96
Summary 0110469527 FL 100.00 01-May-2005 43,012.00 42,908.27
Summary 0110469566 AZ 100.00 01-May-2005 53,000.00 52,905.64
Summary 0110469593 LA 100.00 01-May-2005 27,580.00 27,515.59
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>
Summary 0110436383 Loan Paid in Full 0 10.750% 180 7
Summary 0110436387 Loan Paid in Full 0 8.500% 180 7
Summary 0110436527 Loan Paid in Full 0 10.250% 180 6
Summary 0110436536 Loan Paid in Full (1) 9.125% 240 6
Summary 0110442080 Loan Paid in Full 0 10.500% 180 6
Summary 0110442111 Loan Paid in Full 0 9.125% 180 6
Summary 0110443482 Loan Paid in Full 0 12.375% 180 5
Summary 0110443489 Loan Paid in Full (1) 12.250% 180 5
Summary 0110443509 Loan Paid in Full 0 12.500% 180 5
Summary 0110449404 Loan Paid in Full 1 12.500% 180 5
Summary 0110452097 Loan Paid in Full 0 10.125% 180 6
Summary 0110456399 Loan Paid in Full 0 10.250% 180 6
Summary 0110456463 Loan Paid in Full 0 10.750% 180 5
Summary 0110457122 Loan Paid in Full 0 9.250% 180 5
Summary 0110457880 Loan Paid in Full 0 8.000% 180 5
Summary 0110463110 Loan Paid in Full 0 10.500% 180 5
Summary 0110463375 Loan Paid in Full 0 9.625% 180 10
Summary 0110463428 Loan Paid in Full 0 10.250% 180 5
Summary 0110463562 Loan Paid in Full 0 11.000% 360 6
Summary 0110463572 Loan Paid in Full 0 10.625% 360 6
Summary 0110463626 Loan Paid in Full 0 10.875% 360 6
Summary 0110463798 Loan Paid in Full 0 8.990% 120 6
Summary 0110463829 Loan Paid in Full 0 8.875% 360 6
Summary 0110463836 Loan Paid in Full 0 8.990% 360 6
Summary 0110463934 Loan Paid in Full 0 10.125% 360 6
Summary 0110463961 Loan Paid in Full 0 8.725% 360 6
Summary 0110463974 Loan Paid in Full 0 8.875% 240 6
Summary 0110464006 Loan Paid in Full 0 9.500% 360 6
Summary 0110464018 Loan Paid in Full 0 10.500% 360 6
Summary 0110464195 Loan Paid in Full 0 11.125% 360 6
Summary 0110464199 Loan Paid in Full 0 10.525% 360 6
Summary 0110464225 Loan Paid in Full 0 9.500% 360 6
Summary 0110464289 Loan Paid in Full 0 11.000% 180 6
Summary 0110464300 Loan Paid in Full 0 10.125% 360 6
Summary 0110464319 Loan Paid in Full 0 11.000% 240 6
Summary 0110464341 Loan Paid in Full 0 10.875% 360 6
Summary 0110464385 Loan Paid in Full 0 10.999% 360 6
Summary 0110464505 Loan Paid in Full 0 10.250% 360 6
Summary 0110464529 Loan Paid in Full 0 8.990% 360 6
Summary 0110464549 Loan Paid in Full 0 10.990% 240 7
Summary 0110464562 Loan Paid in Full 0 10.990% 360 7
Summary 0110464579 Loan Paid in Full 0 9.375% 360 9
Summary 0110464589 Loan Paid in Full 1 11.525% 360 6
Summary 0110464613 Loan Paid in Full 0 9.990% 360 6
Summary 0110464632 Loan Paid in Full 0 8.990% 240 6
Summary 0110464885 Loan Paid in Full 0 10.490% 180 6
Summary 0110464920 Loan Paid in Full 0 9.850% 360 6
Summary 0110465025 Loan Paid in Full 0 10.250% 360 8
Summary 0110465184 Loan Paid in Full 0 10.500% 180 6
Summary 0110465244 Loan Paid in Full 0 10.125% 360 6
Summary 0110465250 Loan Paid in Full 0 12.250% 60 6
Summary 0110465267 Loan Paid in Full (1) 10.300% 360 6
Summary 0110465283 Loan Paid in Full 0 9.749% 360 6
Summary 0110465304 Loan Paid in Full (1) 11.750% 120 6
Summary 0110465316 Loan Paid in Full 0 10.625% 360 6
Summary 0110465446 Loan Paid in Full 0 11.250% 120 6
Summary 0110465817 Loan Paid in Full 1 8.750% 180 5
Summary 0110465839 Loan Paid in Full 0 10.750% 180 6
Summary 0110465842 Loan Paid in Full 0 9.250% 180 8
Summary 0110465843 Loan Paid in Full 0 12.000% 180 8
Summary 0110466348 Loan Paid in Full (1) 7.300% 180 4
Summary 0110466451 Loan Paid in Full 0 7.300% 180 4
Summary 0110466537 Loan Paid in Full 0 9.700% 180 4
Summary 0110466560 Loan Paid in Full 0 8.050% 180 4
Summary 0110466561 Loan Paid in Full (1) 8.675% 180 4
Summary 0110466752 Loan Paid in Full 0 11.700% 360 5
Summary 0110466768 Loan Paid in Full 0 9.550% 360 5
Summary 0110466810 Loan Paid in Full 0 11.350% 360 5
Summary 0110466848 Loan Paid in Full 0 11.950% 360 5
Summary 0110466911 Loan Paid in Full 0 9.050% 360 5
Summary 0110466936 Loan Paid in Full 0 10.400% 360 5
Summary 0110467004 Loan Paid in Full 0 12.100% 360 5
Summary 0110467055 Loan Paid in Full 0 9.900% 360 7
Summary 0110467109 Loan Paid in Full 0 11.700% 360 5
Summary 0110467126 Loan Paid in Full 0 10.150% 360 5
Summary 0110467142 Loan Paid in Full 0 9.550% 360 5
Summary 0110467231 Loan Paid in Full 0 10.600% 360 5
Summary 0110467235 Loan Paid in Full 0 12.400% 360 8
Summary 0110467259 Loan Paid in Full 0 11.850% 360 5
Summary 0110467332 Loan Paid in Full 0 10.800% 360 9
Summary 0110467378 Loan Paid in Full 0 11.300% 360 9
Summary 0110467385 Loan Paid in Full 0 10.550% 360 5
Summary 0110467505 Loan Paid in Full 0 10.450% 360 9
Summary 0110467544 Loan Paid in Full 0 11.250% 360 8
Summary 0110467618 Loan Paid in Full 0 12.100% 360 5
Summary 0110467621 Loan Paid in Full 0 11.300% 360 5
Summary 0110467634 Loan Paid in Full 0 10.300% 360 5
Summary 0110467635 Loan Paid in Full 0 11.450% 360 5
Summary 0110467734 Loan Paid in Full 0 9.900% 360 5
Summary 0110467787 Loan Paid in Full 0 11.050% 360 5
Summary 0110467813 Loan Paid in Full 0 11.500% 360 6
Summary 0110467859 Loan Paid in Full 0 11.900% 360 5
Summary 0110468080 Loan Paid in Full 0 9.150% 360 5
Summary 0110468101 Loan Paid in Full (1) 11.650% 360 8
Summary 0110468178 Loan Paid in Full 0 10.100% 360 5
Summary 0110468286 Loan Paid in Full 0 10.900% 360 9
Summary 0110468449 Loan Paid in Full 0 11.350% 360 9
Summary 0110468557 Loan Paid in Full 0 9.750% 360 5
Summary 0110468653 Loan Paid in Full 0 12.350% 360 5
Summary 0110468666 Loan Paid in Full 0 9.600% 360 5
Summary 0110468677 Loan Paid in Full 0 10.850% 360 5
Summary 0110468871 Loan Paid in Full 0 12.100% 360 9
Summary 0110468985 Loan Paid in Full 0 10.550% 360 10
Summary 0110469062 Loan Paid in Full 0 11.900% 360 5
Summary 0110469096 Loan Paid in Full 0 11.350% 360 5
Summary 0110469117 Loan Paid in Full 0 11.950% 360 5
Summary 0110469222 Loan Paid in Full 0 11.300% 360 9
Summary 0110469318 Loan Paid in Full 0 9.300% 360 5
Summary 0110469353 Loan Paid in Full 0 11.350% 360 5
Summary 0110469385 Loan Paid in Full 0 10.850% 360 5
Summary 0110469471 Loan Paid in Full 0 10.000% 360 6
Summary 0110469484 Loan Paid in Full 0 11.700% 360 5
Summary 0110469527 Loan Paid in Full 0 10.550% 360 5
Summary 0110469566 Loan Paid in Full 0 11.950% 360 5
Summary 0110469593 Loan Paid in Full 0 10.700% 360 5
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.732% Current Month 28.279% Current Month 2,525.155%
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 27.875% N/A Sep-2005 3,025.230% N/A
Oct-2005 28.279% N/A Oct-2005 2,525.155% 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>
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.
<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)
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