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
IMPAC SECURED ASSETS CORPORATION
Mortgage Pass-Through Certificates, Series 2005-1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-117991-03
Pooling and Servicing Agreement) (Commission 54-2176762
(State or other File Number) 54-2176763
jurisdiction 54-2176764
of Incorporation) IRS EIN
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
On October 25, 2005 a distribution was made to holders of IMPAC SECURED ASSETS
CORPORATION, Mortgage Pass-Through Certificates, Series 2005-1 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Mortgage Pass-Through Certificates,
Series 2005-1 Trust, relating to the
October 25, 2005 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
IMPAC SECURED ASSETS CORPORATION
Mortgage Pass-Through Certificates, Series 2005-1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 11/1/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2005-1 Trust,
relating to the October 25, 2005 distribution.
EX-99.1
Impac Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
Record Date: 9/30/2005
Distribution Date: 10/25/2005
Impac Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
Series 2005-1
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
1A1 45254TRN6 SEN 4.30407% 23,796,852.99 85,352.70
1AX 45254TSK1 SEN 0.86000% 0.00 32,556.41
2A1 45254TRP1 SEN 5.24180% 17,424,241.12 76,112.01
3A1 45254TRQ9 SEN 4.98241% 61,148,869.69 253,890.88
3AX 45254TSL9 SEN 0.35000% 0.00 17,835.09
4A1 45254TRR7 SEN 5.14461% 11,524,143.78 49,405.97
5A1 45254TRS5 SEN 4.10000% 41,212,091.78 136,114.38
5A2 45254TRT3 SEN 3.94000% 90,807,190.27 288,211.93
5A3 45254TRU0 SEN 4.11000% 160,394,000.00 531,037.80
5A4 45254TRV8 SEN 4.21000% 19,837,000.00 67,274.98
5A5 45254TRW6 SEN 4.18000% 34,695,086.33 116,826.07
5A6 45254TRX4 SEN 4.14000% 45,791,213.09 157,979.69
5A7 45254TRY2 SEN 4.18000% 11,447,803.27 38,547.30
5AX 45254TRZ9 SEN 1.76021% 0.00 699,835.20
B1 45254TSD7 SUB 5.62557% 30,739,043.58 144,103.75
B2 45254TSE5 SUB 5.62557% 13,943,298.15 65,365.78
B3 45254TSF2 SUB 5.62557% 8,873,280.59 41,597.68
B4 45254TSG0 SUB 5.62557% 8,872,280.78 41,593.00
B5 45254TSH8 SUB 5.62557% 6,971,649.08 32,682.89
B6 45254TSJ4 SUB 5.62557% 5,071,188.54 23,773.59
R1 45254TSA3 SEN 4.31305% 0.00 0.00
R2 45254TSB1 SEN 4.31305% 0.00 0.00
R3 45254TSC9 SEN 4.31305% 0.00 0.00
Totals 592,549,233.04 2,900,097.10
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1A1 676,480.39 0.00 23,120,372.60 761,833.09 0.00
1AX 0.00 0.00 0.00 32,556.41 0.00
2A1 3,231,900.34 0.00 14,192,340.78 3,308,012.35 0.00
3A1 6,510.44 0.00 61,142,359.25 260,401.32 0.00
3AX 0.00 0.00 0.00 17,835.09 0.00
4A1 365,845.68 0.00 11,158,298.10 415,251.65 0.00
5A1 961,522.85 0.00 40,250,568.93 1,097,637.23 0.00
5A2 6,323,615.29 0.00 84,483,574.98 6,611,827.22 0.00
5A3 0.00 0.00 160,394,000.00 531,037.80 0.00
5A4 0.00 0.00 19,837,000.00 67,274.98 0.00
5A5 809,474.04 0.00 33,885,612.29 926,300.11 0.00
5A6 1,068,358.73 0.00 44,722,854.36 1,226,338.42 0.00
5A7 267,089.68 0.00 11,180,713.59 305,636.98 0.00
5AX 0.00 0.00 0.00 699,835.20 0.00
B1 1,924.24 0.00 30,737,119.34 146,027.99 0.00
B2 872.84 0.00 13,942,425.32 66,238.62 0.00
B3 555.46 0.00 8,872,725.13 42,153.14 0.00
B4 555.40 0.00 8,871,725.39 42,148.40 0.00
B5 436.42 0.00 6,971,212.66 33,119.31 0.00
B6 317.45 0.00 5,070,871.08 24,091.04 0.00
R1 0.00 0.00 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00
Totals 13,715,459.25 0.00 578,833,773.80 16,615,556.35 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
This report has been compiled from information provided to Wells Fargo Bank, N.A. by various
third parties, which may include the Servicer, Master Servicer, Special Servicer and others.
Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received
from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly
disclaims any responsibility for the accuracy or completeness of information furnished by
third parties.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
1A1 25,200,000.00 23,796,852.99 697.71 675,782.68 0.00 0.00
1AX 0.00 0.00 0.00 0.00 0.00 0.00
2A1 18,136,000.00 17,424,241.12 0.00 3,231,900.34 0.00 0.00
3A1 62,836,000.00 61,148,869.69 963.46 5,546.98 0.00 0.00
3AX 0.00 0.00 0.00 0.00 0.00 0.00
4A1 11,922,000.00 11,524,143.78 1,270.03 364,575.65 0.00 0.00
5A1 45,000,000.00 41,212,091.78 3,001.12 958,521.73 0.00 0.00
5A2 115,719,000.00 90,807,190.27 19,737.39 6,303,877.90 0.00 0.00
5A3 160,394,000.00 160,394,000.00 0.00 0.00 0.00 0.00
5A4 19,837,000.00 19,837,000.00 0.00 0.00 0.00 0.00
5A5 37,884,000.00 34,695,086.33 2,526.55 806,947.49 0.00 0.00
5A6 50,000,000.00 45,791,213.09 3,334.58 1,065,024.14 0.00 0.00
5A7 12,500,000.00 11,447,803.27 833.65 266,256.04 0.00 0.00
5AX 0.00 0.00 0.00 0.00 0.00 0.00
B1 30,745,000.00 30,739,043.58 1,924.24 0.00 0.00 0.00
B2 13,946,000.00 13,943,298.15 872.84 0.00 0.00 0.00
B3 8,875,000.00 8,873,280.59 555.46 0.00 0.00 0.00
B4 8,874,000.00 8,872,280.78 555.40 0.00 0.00 0.00
B5 6,973,000.00 6,971,649.08 436.42 0.00 0.00 0.00
B6 5,072,171.20 5,071,188.54 317.45 0.00 0.00 0.00
R1 100.00 0.00 0.00 0.00 0.00 0.00
R2 100.00 0.00 0.00 0.00 0.00 0.00
R3 100.00 0.00 0.00 0.00 0.00 0.00
Totals 633,913,471.20 592,549,233.04 37,026.30 13,678,432.95 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>
1A1 676,480.39 23,120,372.60 0.91747510 676,480.39
1AX 0.00 0.00 0.00000000 0.00
2A1 3,231,900.34 14,192,340.78 0.78255077 3,231,900.34
3A1 6,510.44 61,142,359.25 0.97304665 6,510.44
3AX 0.00 0.00 0.00000000 0.00
4A1 365,845.68 11,158,298.10 0.93594180 365,845.68
5A1 961,522.85 40,250,568.93 0.89445709 961,522.85
5A2 6,323,615.29 84,483,574.98 0.73007523 6,323,615.29
5A3 0.00 160,394,000.00 1.00000000 0.00
5A4 0.00 19,837,000.00 1.00000000 0.00
5A5 809,474.04 33,885,612.29 0.89445709 809,474.04
5A6 1,068,358.73 44,722,854.36 0.89445709 1,068,358.73
5A7 267,089.68 11,180,713.59 0.89445709 267,089.68
5AX 0.00 0.00 0.00000000 0.00
B1 1,924.24 30,737,119.34 0.99974368 1,924.24
B2 872.84 13,942,425.32 0.99974368 872.84
B3 555.46 8,872,725.13 0.99974368 555.46
B4 555.40 8,871,725.39 0.99974368 555.40
B5 436.42 6,971,212.66 0.99974368 436.42
B6 317.45 5,070,871.08 0.99974368 317.45
R1 0.00 0.00 0.00000000 0.00
R2 0.00 0.00 0.00000000 0.00
R3 0.00 0.00 0.00000000 0.00
Totals 13,715,459.25 578,833,773.80 0.91311165 13,715,459.25
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>
1A1 25,200,000.00 944.31956310 0.02768690 26.81677302 0.00000000
1AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
2A1 18,136,000.00 960.75436259 0.00000000 178.20359175 0.00000000
3A1 62,836,000.00 973.15025925 0.01533293 0.08827710 0.00000000
3AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
4A1 11,922,000.00 966.62839960 0.10652827 30.58007465 0.00000000
5A1 45,000,000.00 915.82426178 0.06669156 21.30048289 0.00000000
5A2 115,719,000.00 784.72152602 0.17056309 54.47573778 0.00000000
5A3 160,394,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
5A4 19,837,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
5A5 37,884,000.00 915.82426169 0.06669174 21.30048279 0.00000000
5A6 50,000,000.00 915.82426180 0.06669160 21.30048280 0.00000000
5A7 12,500,000.00 915.82426160 0.06669200 21.30048320 0.00000000
5AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B1 30,745,000.00 999.80626378 0.06258709 0.00000000 0.00000000
B2 13,946,000.00 999.80626344 0.06258712 0.00000000 0.00000000
B3 8,875,000.00 999.80626366 0.06258704 0.00000000 0.00000000
B4 8,874,000.00 999.80626324 0.06258733 0.00000000 0.00000000
B5 6,973,000.00 999.80626416 0.06258712 0.00000000 0.00000000
B6 5,072,171.20 999.80626443 0.06258661 0.00000000 0.00000000
R1 100.00 0.00000000 0.00000000 0.00000000 0.00000000
R2 100.00 0.00000000 0.00000000 0.00000000 0.00000000
R3 100.00 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>
1A1 0.00000000 26.84445992 917.47510317 0.91747510 26.84445992
1AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2A1 0.00000000 178.20359175 782.55077084 0.78255077 178.20359175
3A1 0.00000000 0.10361003 973.04664921 0.97304665 0.10361003
3AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
4A1 0.00000000 30.68660292 935.94179668 0.93594180 30.68660292
5A1 0.00000000 21.36717444 894.45708733 0.89445709 21.36717444
5A2 0.00000000 54.64630087 730.07522516 0.73007523 54.64630087
5A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
5A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
5A5 0.00000000 21.36717453 894.45708716 0.89445709 21.36717453
5A6 0.00000000 21.36717460 894.45708720 0.89445709 21.36717460
5A7 0.00000000 21.36717440 894.45708720 0.89445709 21.36717440
5AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B1 0.00000000 0.06258709 999.74367670 0.99974368 0.06258709
B2 0.00000000 0.06258712 999.74367704 0.99974368 0.06258712
B3 0.00000000 0.06258704 999.74367662 0.99974368 0.06258704
B4 0.00000000 0.06258733 999.74367703 0.99974368 0.06258733
B5 0.00000000 0.06258712 999.74367704 0.99974368 0.06258712
B6 0.00000000 0.06258661 999.74367584 0.99974368 0.06258661
R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R3 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>
1A1 25,200,000.00 4.30407% 23,796,852.99 85,352.70 0.00 0.00
1AX 0.00 0.86000% 23,796,852.99 17,054.41 0.00 0.00
2A1 18,136,000.00 5.24180% 17,424,241.12 76,112.01 0.00 0.00
3A1 62,836,000.00 4.98241% 61,148,869.69 253,890.88 0.00 0.00
3AX 0.00 0.35000% 61,148,869.69 17,835.09 0.00 0.00
4A1 11,922,000.00 5.14461% 11,524,143.78 49,405.97 0.00 0.00
5A1 45,000,000.00 4.10000% 41,212,091.78 136,114.38 0.00 0.00
5A2 115,719,000.00 3.94000% 90,807,190.27 288,211.93 0.00 0.00
5A3 160,394,000.00 4.11000% 160,394,000.00 531,037.80 0.00 0.00
5A4 19,837,000.00 4.21000% 19,837,000.00 67,274.98 0.00 0.00
5A5 37,884,000.00 4.18000% 34,695,086.33 116,826.07 0.00 0.00
5A6 50,000,000.00 4.14000% 45,791,213.09 157,979.69 0.00 0.00
5A7 12,500,000.00 4.18000% 11,447,803.27 38,547.30 0.00 0.00
5AX 0.00 1.76021% 404,184,384.74 592,875.03 0.00 0.00
B1 30,745,000.00 5.62557% 30,739,043.58 144,103.75 0.00 0.00
B2 13,946,000.00 5.62557% 13,943,298.15 65,365.78 0.00 0.00
B3 8,875,000.00 5.62557% 8,873,280.59 41,597.68 0.00 0.00
B4 8,874,000.00 5.62557% 8,872,280.78 41,593.00 0.00 0.00
B5 6,973,000.00 5.62557% 6,971,649.08 32,682.89 0.00 0.00
B6 5,072,171.20 5.62557% 5,071,188.54 23,773.59 0.00 0.00
R1 100.00 4.31305% 0.00 0.00 0.00 0.00
R2 100.00 4.31305% 0.00 0.00 0.00 0.00
R3 100.00 4.31305% 0.00 0.00 0.00 0.00
Totals 633,913,471.20 2,777,634.93 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>
1A1 0.00 0.00 85,352.70 0.00 23,120,372.60
1AX 0.00 0.00 32,556.41 0.00 23,120,372.60
2A1 0.00 0.00 76,112.01 0.00 14,192,340.78
3A1 0.00 0.00 253,890.88 0.00 61,142,359.25
3AX 0.00 0.00 17,835.09 0.00 61,142,359.25
4A1 0.00 0.00 49,405.97 0.00 11,158,298.10
5A1 0.00 0.00 136,114.38 0.00 40,250,568.93
5A2 0.00 0.00 288,211.93 0.00 84,483,574.98
5A3 0.00 0.00 531,037.80 0.00 160,394,000.00
5A4 0.00 0.00 67,274.98 0.00 19,837,000.00
5A5 0.00 0.00 116,826.07 0.00 33,885,612.29
5A6 0.00 0.00 157,979.69 0.00 44,722,854.36
5A7 0.00 0.00 38,547.30 0.00 11,180,713.59
5AX 0.00 0.00 699,835.20 0.00 394,754,324.15
B1 0.00 0.00 144,103.75 0.00 30,737,119.34
B2 0.00 0.00 65,365.78 0.00 13,942,425.32
B3 0.00 0.00 41,597.68 0.00 8,872,725.13
B4 0.00 0.00 41,593.00 0.00 8,871,725.39
B5 0.00 0.00 32,682.89 0.00 6,971,212.66
B6 0.00 0.00 23,773.59 0.00 5,070,871.08
R1 0.00 0.00 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,900,097.10 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>
1A1 25,200,000.00 4.30407% 944.31956310 3.38701190 0.00000000 0.00000000
1AX 0.00 0.86000% 944.31956310 0.67676230 0.00000000 0.00000000
2A1 18,136,000.00 5.24180% 960.75436259 4.19673633 0.00000000 0.00000000
3A1 62,836,000.00 4.98241% 973.15025925 4.04053218 0.00000000 0.00000000
3AX 0.00 0.35000% 973.15025925 0.28383554 0.00000000 0.00000000
4A1 11,922,000.00 5.14461% 966.62839960 4.14410082 0.00000000 0.00000000
5A1 45,000,000.00 4.10000% 915.82426178 3.02476400 0.00000000 0.00000000
5A2 115,719,000.00 3.94000% 784.72152602 2.49061891 0.00000000 0.00000000
5A3 160,394,000.00 4.11000% 1000.00000000 3.31083332 0.00000000 0.00000000
5A4 19,837,000.00 4.21000% 1000.00000000 3.39138882 0.00000000 0.00000000
5A5 37,884,000.00 4.18000% 915.82426169 3.08378392 0.00000000 0.00000000
5A6 50,000,000.00 4.14000% 915.82426180 3.15959380 0.00000000 0.00000000
5A7 12,500,000.00 4.18000% 915.82426160 3.08378400 0.00000000 0.00000000
5AX 0.00 1.76021% 915.82426176 1.34337040 0.00000000 0.00000000
B1 30,745,000.00 5.62557% 999.80626378 4.68706294 0.00000000 0.00000000
B2 13,946,000.00 5.62557% 999.80626344 4.68706296 0.00000000 0.00000000
B3 8,875,000.00 5.62557% 999.80626366 4.68706254 0.00000000 0.00000000
B4 8,874,000.00 5.62557% 999.80626324 4.68706333 0.00000000 0.00000000
B5 6,973,000.00 5.62557% 999.80626416 4.68706296 0.00000000 0.00000000
B6 5,072,171.20 5.62557% 999.80626443 4.68706380 0.00000000 0.00000000
R1 100.00 4.31305% 0.00000000 0.00000000 0.00000000 0.00000000
R2 100.00 4.31305% 0.00000000 0.00000000 0.00000000 0.00000000
R3 100.00 4.31305% 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>
1A1 0.00000000 0.00000000 3.38701190 0.00000000 917.47510317
1AX 0.00000000 0.00000000 1.29192103 0.00000000 917.47510317
2A1 0.00000000 0.00000000 4.19673633 0.00000000 782.55077084
3A1 0.00000000 0.00000000 4.04053218 0.00000000 973.04664921
3AX 0.00000000 0.00000000 0.28383554 0.00000000 973.04664921
4A1 0.00000000 0.00000000 4.14410082 0.00000000 935.94179668
5A1 0.00000000 0.00000000 3.02476400 0.00000000 894.45708733
5A2 0.00000000 0.00000000 2.49061891 0.00000000 730.07522516
5A3 0.00000000 0.00000000 3.31083332 0.00000000 1000.00000000
5A4 0.00000000 0.00000000 3.39138882 0.00000000 1000.00000000
5A5 0.00000000 0.00000000 3.08378392 0.00000000 894.45708716
5A6 0.00000000 0.00000000 3.15959380 0.00000000 894.45708720
5A7 0.00000000 0.00000000 3.08378400 0.00000000 894.45708720
5AX 0.00000000 0.00000000 1.58572691 0.00000000 894.45708726
B1 0.00000000 0.00000000 4.68706294 0.00000000 999.74367670
B2 0.00000000 0.00000000 4.68706296 0.00000000 999.74367704
B3 0.00000000 0.00000000 4.68706254 0.00000000 999.74367662
B4 0.00000000 0.00000000 4.68706333 0.00000000 999.74367703
B5 0.00000000 0.00000000 4.68706296 0.00000000 999.74367704
B6 0.00000000 0.00000000 4.68706380 0.00000000 999.74367584
R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R3 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 16,680,240.97
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 122,462.17
Total Deposits 16,802,703.14
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 187,146.79
Payment of Interest and Principal 16,615,556.35
Total Withdrawals (Pool Distribution Amount) 16,802,703.14
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 185,171.64
Wells Fargo Bank, N.A. 1,975.15
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 187,146.79
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 0.00 0.00 0.00 0.00
Reserve Fund 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 1 0 0 1
167,998.87 0.00 0.00 167,998.87
30 Days 42 0 0 0 42
13,056,018.79 0.00 0.00 0.00 13,056,018.79
60 Days 13 1 1 0 15
3,029,992.37 97,594.72 90,930.00 0.00 3,218,517.09
90 Days 2 0 9 0 11
938,018.45 0.00 2,799,462.60 0.00 3,737,481.05
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 57 2 10 0 69
17,024,029.61 265,593.59 2,890,392.60 0.00 20,180,015.80
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 0.050075% 0.000000% 0.000000% 0.050075%
0.029024% 0.000000% 0.000000% 0.029024%
30 Days 2.103155% 0.000000% 0.000000% 0.000000% 2.103155%
2.255573% 0.000000% 0.000000% 0.000000% 2.255573%
60 Days 0.650976% 0.050075% 0.050075% 0.000000% 0.751127%
0.523465% 0.016861% 0.015709% 0.000000% 0.556035%
90 Days 0.100150% 0.000000% 0.450676% 0.000000% 0.550826%
0.162053% 0.000000% 0.483638% 0.000000% 0.645692%
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 2.854281% 0.100150% 0.500751% 0.000000% 3.455183%
2.941091% 0.045884% 0.499348% 0.000000% 3.486323%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
236,000.00 0.00 0.00 0.00 236,000.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 1 0 1
0.00 0.00 123,500.00 0.00 123,500.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 1 0 1 0 2
236,000.00 0.00 123,500.00 0.00 359,500.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.173913% 0.000000% 0.000000% 0.000000% 2.173913%
1.416131% 0.000000% 0.000000% 0.000000% 1.416131%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 2.173913% 0.000000% 2.173913%
0.000000% 0.000000% 0.741069% 0.000000% 0.741069%
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 2.173913% 0.000000% 2.173913% 0.000000% 4.347826%
1.416131% 0.000000% 0.741069% 0.000000% 2.157200%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
3 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 3 0 0 0 3
1,171,503.76 0.00 0.00 0.00 1,171,503.76
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 1 0 1
0.00 0.00 735,000.00 0.00 735,000.00
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 3 0 1 0 4
1,171,503.76 0.00 735,000.00 0.00 1,906,503.76
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.408451% 0.000000% 0.000000% 0.000000% 1.408451%
1.680726% 0.000000% 0.000000% 0.000000% 1.680726%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.469484% 0.000000% 0.469484%
0.000000% 0.000000% 1.054485% 0.000000% 1.054485%
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 1.408451% 0.000000% 0.469484% 0.000000% 1.877934%
1.680726% 0.000000% 1.054485% 0.000000% 2.735211%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
4 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
176,000.00 0.00 0.00 0.00 176,000.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 1 0 0 0 1
176,000.00 0.00 0.00 0.00 176,000.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.941176% 0.000000% 0.000000% 0.000000% 2.941176%
1.374154% 0.000000% 0.000000% 0.000000% 1.374154%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.941176% 0.000000% 0.000000% 0.000000% 2.941176%
1.374154% 0.000000% 0.000000% 0.000000% 1.374154%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
5 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 1 0 0 1
167,998.87 0.00 0.00 167,998.87
30 Days 37 0 0 0 37
11,472,515.03 0.00 0.00 0.00 11,472,515.03
60 Days 13 1 1 0 15
3,029,992.37 97,594.72 90,930.00 0.00 3,218,517.09
90 Days 2 0 7 0 9
938,018.45 0.00 1,940,962.60 0.00 2,878,981.05
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 52 2 8 0 62
15,440,525.85 265,593.59 2,031,892.60 0.00 17,738,012.04
0-29 Days 0.061805% 0.000000% 0.000000% 0.061805%
0.037087% 0.000000% 0.000000% 0.037087%
30 Days 2.286774% 0.000000% 0.000000% 0.000000% 2.286774%
2.532624% 0.000000% 0.000000% 0.000000% 2.532624%
60 Days 0.803461% 0.061805% 0.061805% 0.000000% 0.927070%
0.668888% 0.021545% 0.020073% 0.000000% 0.710506%
90 Days 0.123609% 0.000000% 0.432633% 0.000000% 0.556242%
0.207073% 0.000000% 0.428479% 0.000000% 0.635552%
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 3.213844% 0.123609% 0.494438% 0.000000% 3.831891%
3.408586% 0.058631% 0.448552% 0.000000% 3.915769%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
REO Detail - All Mortgage Loans in REO during Current Period
Summary 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
2 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
3 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.
4 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.
5 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 8 Nov-04 0.000%
Original Principal Balance 1,932,430.00 Dec-04 0.000%
Current Principal Balance 1,932,192.60 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 10 Apr-05 0.000%
Original Principal Balance 2,890,630.00 May-05 0.000%
Current Principal Balance 2,890,392.60 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.162%
Oct-05 0.499%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
2 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 1 Nov-04 0.000%
Original Principal Balance 123,500.00 Dec-04 0.000%
Current Principal Balance 123,500.00 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 1 Apr-05 0.000%
Original Principal Balance 123,500.00 May-05 0.000%
Current Principal Balance 123,500.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.741%
*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.
3 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 1 Apr-05 0.000%
Original Principal Balance 735,000.00 May-05 0.000%
Current Principal Balance 735,000.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 1.054%
Oct-05 1.054%
*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.
4 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.
5 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 7 Nov-04 0.000%
Original Principal Balance 1,808,930.00 Dec-04 0.000%
Current Principal Balance 1,808,692.60 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 8 Apr-05 0.000%
Original Principal Balance 2,032,130.00 May-05 0.000%
Current Principal Balance 2,031,892.60 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.048%
Oct-05 0.449%
*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>
2 1103410505 Oct-2005 01-May-2005 GA 0.00 123,500.00
3 2503102919 Sep-2005 01-Jun-2005 CA 0.00 735,000.00
5 1103385504 Oct-2005 01-Jun-2005 GA 0.00 91,000.00
5 1103388858 Sep-2005 01-Apr-2005 IL 0.00 223,200.00
5 1103394333 Oct-2005 01-Jun-2005 IL 0.00 90,930.00
5 1103399768 Oct-2005 01-Apr-2005 CA 0.00 360,000.00
5 1103411286 Oct-2005 01-Apr-2005 CA 0.00 301,000.00
5 1103414713 Oct-2005 01-May-2005 CA 0.00 328,000.00
5 2503103899 Oct-2005 01-Jun-2005 TX 0.00 238,000.00
5 2503106686 Oct-2005 01-Jun-2005 CA 0.00 400,000.00
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
2 1103410505 123,500.00 01-May-2005 3 6.000% 2,879.10
3 2503102919 735,000.00 01-May-2005 3 5.625% 15,986.25
5 1103385504 91,000.00 01-May-2005 3 6.625% 2,358.43
5 1103388858 223,200.00 01-May-2005 3 6.810% 5,956.65
5 1103394333 90,930.00 01-Jun-2005 2 6.625% 1,885.28
5 1103399768 360,000.00 01-May-2005 3 7.875% 11,205.00
5 1103411286 301,000.00 01-May-2005 3 6.690% 5,875.78
5 1103414713 327,762.60 01-May-2005 3 7.625% 9,860.20
5 2503103899 238,000.00 01-May-2005 3 6.875% 6,416.09
5 2503106686 400,000.00 01-May-2005 3 6.125% 9,533.35
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 6.071858%
Weighted Average Net Coupon 5.696858%
Weighted Average Pass-Through Rate 5.625122%
Weighted Average Maturity(Stepdown Calculation) 355
Beginning Scheduled Collateral Loan Count 2,048
Number Of Loans Paid In Full 51
Ending Scheduled Collateral Loan Count 1,997
Beginning Scheduled Collateral Balance 592,549,233.04
Ending Scheduled Collateral Balance 578,833,773.80
Ending Actual Collateral Balance at 30-Sep-2005 578,833,773.80
Monthly P&I Constant 3,035,255.27
Special Servicing Fee 0.00
Prepayment Penalties 122,462.17
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 37,026.29
Unscheduled Principal 13,678,432.95
Group Level Collateral Statement
Group 1 2 3
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 5.578507 5.650801 5.749322
Weighted Average Net Rate 5.203508 5.275801 5.374322
Weighted Average Maturity 355 355 356
Beginning Loan Count 87 53 213
Loans Paid In Full 1 7 0
Ending Loan Count 86 46 213
Beginning Scheduled Balance 27,345,899.61 19,897,024.08 69,708,892.10
Ending Scheduled Balance 26,669,315.16 16,665,123.74 69,702,246.79
Record Date 09/30/2005 09/30/2005 09/30/2005
Principal And Interest Constant 127,926.19 93,695.10 335,080.74
Scheduled Principal 801.77 0.00 1,098.33
Unscheduled Principal 675,782.68 3,231,900.34 5,546.98
Scheduled Interest 127,124.42 93,695.10 333,982.41
Servicing Fees 8,545.59 6,217.82 21,784.03
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 91.15 66.32 232.36
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 807.61 497.43 2,202.15
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 117,680.07 86,913.53 309,763.87
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 5.164068 5.241801 5.332413
Group Level Collateral Statement
Group 4 5 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 5.553604 6.182536 6.071858
Weighted Average Net Rate 5.178604 5.807536 5.696858
Weighted Average Maturity 355 355 355
Beginning Loan Count 35 1,660 2,048
Loans Paid In Full 1 42 51
Ending Loan Count 34 1,618 1,997
Beginning Scheduled Balance 13,173,907.73 462,423,509.52 592,549,233.04
Ending scheduled Balance 12,807,880.24 452,989,207.87 578,833,773.80
Record Date 09/30/2005 09/30/2005 09/30/2005
Principal And Interest Constant 62,420.73 2,416,132.51 3,035,255.27
Scheduled Principal 1,451.84 33,674.35 37,026.29
Unscheduled Principal 364,575.65 9,400,627.30 13,678,432.95
Scheduled Interest 60,968.89 2,382,458.16 2,998,228.98
Servicing Fees 4,116.85 144,507.35 185,171.64
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 43.91 1,541.41 1,975.15
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 329.35 29,610.79 33,447.33
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 56,478.78 2,206,798.61 2,777,634.86
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 5.144604 5.726695 5.625122
Prepayment Detail - Prepayments during Current Period
Summary Loans Paid In Full Repurchased Loans
Original Current Original Current
Principal Principal Principal Principal
Group Count Balance Balance Count Balance Balance
<s> <c> <c> <c> <c> <c> <c>
1 1 674,000.00 674,000.00 0 0.00 0.00
2 7 3,232,650.00 3,231,799.20 0 0.00 0.00
3 0 0.00 0.00 0 0.00 0.00
4 1 364,000.00 364,000.00 0 0.00 0.00
5 42 9,392,078.00 9,369,350.64 0 0.00 0.00
Total 51 13,662,728.00 13,639,149.84 0 0.00 0.00
Prepayment Detail - Prepayments during Current Period (continued)
Summary Substitution Loans Liquidated Loans Curtailments
Original Current Original Current
Principal Principal Principal Principal Curtailment
Group Count Balance Balance Count Balance Balance Amount
<s> <c> <c> <c> <c> <c> <c> <c>
1 0 0.00 0.00 0 0.00 0.00 1,782.68
2 0 0.00 0.00 0 0.00 0.00 101.14
3 0 0.00 0.00 0 0.00 0.00 5,546.98
4 0 0.00 0.00 0 0.00 0.00 575.65
5 0 0.00 0.00 0 0.00 0.00 33,234.74
Total 0 0.00 0.00 0 0.00 0.00 41,241.19
Prepayment Loan Detail - Prepayments during Current Period
First Original
Loan LTV at Payment Principal Prepayment
Group Number State Origination Date Balance Amount
<s> <c> <c> <c> <c> <c> <c>
1 1103415731 CA 0.00 01-Jun-2005 674,000.00 674,000.00
2 1103407197 CA 0.00 01-May-2005 936,000.00 936,000.00
2 1103410517 NJ 0.00 01-May-2005 172,000.00 172,000.00
2 1103410810 CA 0.00 01-Jun-2005 314,400.00 314,400.00
2 1103410815 CA 0.00 01-Jun-2005 210,000.00 210,000.00
2 1103412651 CA 0.00 01-Jun-2005 383,250.00 383,250.00
2 1103414662 CA 0.00 01-May-2005 649,000.00 648,149.20
2 1103416204 CA 0.00 01-Jun-2005 568,000.00 568,000.00
4 1103347599 NJ 0.00 01-Feb-2005 364,000.00 364,000.00
5 1103321977 IL 0.00 01-Jun-2005 88,900.00 87,968.39
5 1103366722 MD 0.00 01-May-2005 280,000.00 280,000.00
5 1103384570 CA 0.00 01-Jun-2005 230,593.00 229,613.23
5 1103384618 CA 0.00 01-May-2005 287,500.00 287,500.00
5 1103385644 NV 0.00 01-Jun-2005 276,000.00 276,000.00
5 1103386415 NV 0.00 01-Jun-2005 263,200.00 263,200.00
5 1103388428 NJ 0.00 01-May-2005 204,400.00 203,221.06
5 1103391116 FL 0.00 01-Jun-2005 149,100.00 149,100.00
5 1103393492 CA 0.00 01-May-2005 217,000.00 217,000.00
5 1103393843 MA 0.00 01-Jun-2005 316,000.00 315,700.97
5 1103396755 VA 0.00 01-May-2005 288,000.00 288,000.00
5 1103396797 FL 0.00 01-Jun-2005 87,500.00 87,500.00
5 1103398325 MN 0.00 01-Jun-2005 101,500.00 101,500.00
5 1103399991 CA 0.00 01-May-2005 200,000.00 200,000.00
5 1103400016 CA 0.00 01-May-2005 196,000.00 196,000.00
5 1103400605 CA 0.00 01-Jun-2005 409,500.00 409,500.00
5 1103400812 CA 0.00 01-Jun-2005 134,000.00 134,000.00
5 1103406719 CA 0.00 01-May-2005 188,800.00 188,800.00
5 1103406728 CA 0.00 01-May-2005 472,500.00 472,500.00
5 1103407163 CA 0.00 01-May-2005 375,200.00 375,200.00
5 1103410513 NJ 0.00 01-May-2005 163,625.00 163,625.00
5 1103410951 VA 0.00 01-Apr-2005 137,600.00 137,600.00
5 1103410956 SC 0.00 01-May-2005 81,600.00 81,600.00
5 1103411324 CA 0.00 01-May-2005 192,000.00 192,000.00
5 1103411474 NJ 0.00 01-May-2005 59,500.00 59,168.74
5 1103413177 MD 0.00 01-May-2005 108,000.00 108,000.00
5 1103414510 MD 0.00 01-May-2005 328,000.00 328,000.00
5 1103414556 MD 0.00 01-May-2005 108,000.00 108,000.00
5 1103414561 CT 0.00 01-May-2005 144,000.00 144,000.00
5 1103414582 FL 0.00 01-May-2005 184,160.00 184,160.00
5 1103414615 CA 0.00 01-May-2005 160,000.00 160,000.00
5 1103414650 CA 0.00 01-May-2005 391,200.00 388,601.25
5 1103414674 CA 0.00 01-May-2005 300,000.00 299,735.32
5 1103414778 CA 0.00 01-Jun-2005 236,000.00 236,000.00
5 1103414835 MD 0.00 01-May-2005 220,000.00 218,899.95
5 1103421913 NV 0.00 01-Jun-2005 225,000.00 225,000.00
5 2503106812 IL 0.00 01-Jun-2005 124,000.00 124,000.00
5 2503106961 FL 0.00 01-Jun-2005 644,000.00 644,000.00
5 2503107519 FL 0.00 01-Jul-2005 105,000.00 105,000.00
5 3900011359 FL 0.00 01-Aug-2002 347,700.00 332,890.16
5 4503030463 CA 0.00 01-May-2005 280,000.00 278,224.86
5 4503031224 CA 0.00 01-Jun-2005 87,000.00 86,583.63
Prepayment Loan Detail - Prepayments during Current Period (continued)
Current
Loan PIF Months Loan Original
Group Number Type Delinquent Rate Term Seasoning
<s> <c> <c> <c> <c> <c> <c>
1 1103415731 Loan Paid in Full 0 5.750% 360 4
2 1103407197 Loan Paid in Full 0 5.625% 360 5
2 1103410517 Loan Paid in Full 0 5.875% 360 5
2 1103410810 Loan Paid in Full 0 5.875% 360 4
2 1103410815 Loan Paid in Full (1) 5.875% 360 4
2 1103412651 Loan Paid in Full 0 5.625% 360 4
2 1103414662 Loan Paid in Full 0 4.750% 360 5
2 1103416204 Loan Paid in Full 0 6.000% 360 4
4 1103347599 Loan Paid in Full 0 5.750% 360 8
5 1103321977 Loan Paid in Full (1) 7.125% 360 4
5 1103366722 Loan Paid in Full 0 5.625% 360 5
5 1103384570 Loan Paid in Full 0 6.875% 360 4
5 1103384618 Loan Paid in Full 0 6.500% 360 5
5 1103385644 Loan Paid in Full 1 7.000% 360 4
5 1103386415 Loan Paid in Full 0 6.000% 360 4
5 1103388428 Loan Paid in Full 0 6.250% 360 5
5 1103391116 Loan Paid in Full 2 6.125% 360 4
5 1103393492 Loan Paid in Full 0 5.500% 360 5
5 1103393843 Loan Paid in Full 0 7.125% 360 4
5 1103396755 Loan Paid in Full 1 6.875% 360 5
5 1103396797 Loan Paid in Full 0 6.375% 360 4
5 1103398325 Loan Paid in Full 0 6.000% 360 4
5 1103399991 Loan Paid in Full 0 5.875% 360 5
5 1103400016 Loan Paid in Full 0 5.990% 360 5
5 1103400605 Loan Paid in Full 1 6.000% 360 4
5 1103400812 Loan Paid in Full 0 5.500% 360 4
5 1103406719 Loan Paid in Full 0 7.125% 360 5
5 1103406728 Loan Paid in Full 1 5.375% 360 5
5 1103407163 Loan Paid in Full 0 6.250% 360 5
5 1103410513 Loan Paid in Full 0 7.375% 360 5
5 1103410951 Loan Paid in Full 0 7.290% 360 6
5 1103410956 Loan Paid in Full 0 6.640% 360 5
5 1103411324 Loan Paid in Full 0 5.940% 360 5
5 1103411474 Loan Paid in Full 0 6.750% 360 5
5 1103413177 Loan Paid in Full 0 7.000% 360 5
5 1103414510 Loan Paid in Full 0 6.375% 360 5
5 1103414556 Loan Paid in Full 0 6.000% 360 5
5 1103414561 Loan Paid in Full 0 6.250% 360 5
5 1103414582 Loan Paid in Full 0 5.250% 360 5
5 1103414615 Loan Paid in Full 0 5.250% 360 5
5 1103414650 Loan Paid in Full 0 5.500% 360 5
5 1103414674 Loan Paid in Full 1 6.625% 360 5
5 1103414778 Loan Paid in Full 0 5.990% 360 4
5 1103414835 Loan Paid in Full 0 6.990% 360 5
5 1103421913 Loan Paid in Full 0 6.250% 360 4
5 2503106812 Loan Paid in Full 0 7.500% 360 4
5 2503106961 Loan Paid in Full 0 6.125% 360 4
5 2503107519 Loan Paid in Full 0 6.375% 360 4
5 3900011359 Loan Paid in Full 0 6.250% 360 38
5 4503030463 Loan Paid in Full 0 5.750% 360 5
5 4503031224 Loan Paid in Full 0 6.375% 360 4
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.309% Current Month 24.442% Current Month 2,590.138%
3 Month Average 2.453% 3 Month Average 25.763% 3 Month Average 3,672.315%
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 17.583% N/A Jul-2005 4,956.730% N/A
Aug-2005 27.749% N/A Aug-2005 5,067.756% N/A
Sep-2005 25.099% N/A Sep-2005 3,359.052% N/A
Oct-2005 24.442% N/A Oct-2005 2,590.138% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.471% Current Month 25.939% Current Month 2,696.466%
3 Month Average 2.467% 3 Month Average 25.845% 3 Month Average 3,630.562%
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 0.032% N/A Jul-2005 8.822% N/A
Aug-2005 29.522% N/A Aug-2005 5,282.842% N/A
Sep-2005 22.075% N/A Sep-2005 2,912.379% N/A
Oct-2005 25.939% N/A Oct-2005 2,696.466% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 16.243% Current Month 88.081% Current Month 9,575.888%
3 Month Average 6.563% 3 Month Average 40.814% 3 Month Average 4,787.962%
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 0.101% N/A Jul-2005 32.128% N/A
Aug-2005 0.045% N/A Aug-2005 8.774% N/A
Sep-2005 34.315% N/A Sep-2005 4,779.223% N/A
Oct-2005 88.081% N/A Oct-2005 9,575.888% 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.
3
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.008% Current Month 0.095% Current Month 10.554%
3 Month Average 0.557% 3 Month Average 6.369% 3 Month Average 1,041.134%
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 8.257% N/A Jul-2005 2,714.502% N/A
Aug-2005 7.376% N/A Aug-2005 1,461.103% N/A
Sep-2005 11.634% N/A Sep-2005 1,651.744% N/A
Oct-2005 0.095% N/A Oct-2005 10.554% 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.
4
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.768% Current Month 28.595% Current Month 2,688.883%
3 Month Average 0.925% 3 Month Average 9.564% 3 Month Average 899.994%
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 29.717% N/A Jul-2005 6,212.349% N/A
Aug-2005 0.000% N/A Aug-2005 0.001% N/A
Sep-2005 0.097% N/A Sep-2005 11.099% N/A
Oct-2005 28.595% N/A Oct-2005 2,688.883% 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.
5
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.033% Current Month 21.845% Current Month 2,308.916%
3 Month Average 2.597% 3 Month Average 26.972% 3 Month Average 3,904.310%
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 20.045% N/A Jul-2005 5,572.012% N/A
Aug-2005 31.797% N/A Aug-2005 5,770.037% N/A
Sep-2005 27.274% N/A Sep-2005 3,633.977% N/A
Oct-2005 21.845% N/A Oct-2005 2,308.916% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
1 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
3 0 0.00 0.00 0.000%
4 0 0.00 0.00 0.000%
5 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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
3
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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
4
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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
5
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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
</FN>
<FN>
Calculation Methodology:
Monthly Default Rate (MDR): sum(Beg Principal Balance of Liquidated Loans)/ sum(Beg Principal Balance).
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR/(WAS*0.02) else if WAS is greater than 30 and
less than or equal to 60 then CDR/0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR/(0.6 -
((WAS-60)*0.0095)) else if WAS is greater than 120 then CDR/0.03
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
</FN>