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-SD2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-123741-04
Pooling and Servicing Agreement) (Commission 54-2176704
(State or other File Number) 54-2176705
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-SD2 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-SD2 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-SD2 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Securities Administrator
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 10/28/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Pass-Through Certificates, Series 2005-SD2 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-SD2
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
A-1 004421QD8 SEN 4.23000% 92,663,314.67 315,750.24
M-1 004421QE6 SEN 4.53000% 18,371,000.00 67,038.84
M-2 004421QF3 SEN 5.33000% 10,636,000.00 45,666.85
M-3 004421QG1 SEN 6.83000% 5,640,000.00 31,030.97
M-4 004421QH9 SEN 6.83000% 3,142,000.00 17,287.11
M-5 004421QJ5 SEN 6.83000% 2,417,000.00 13,298.20
CE-1 ACE05SD2CE1 SEN 0.00000% 9,900,318.44 0.00
CE-2 ACE05SD2CE2 SEN 0.00000% 0.00 31,196.14
P ACE05SD2P SEN 0.00000% 100.00 12,982.25
R ACE5SD2R1 SEN 0.00000% 0.00 0.00
Totals 142,769,733.11 534,250.60
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 4,162,241.70 0.00 88,501,072.97 4,477,991.94 0.00
M-1 0.00 0.00 18,371,000.00 67,038.84 0.00
M-2 0.00 0.00 10,636,000.00 45,666.85 0.00
M-3 0.00 0.00 5,640,000.00 31,030.97 0.00
M-4 0.00 0.00 3,142,000.00 17,287.11 0.00
M-5 0.00 0.00 2,417,000.00 13,298.20 0.00
CE-1 0.00 0.00 10,454,420.55 0.00 0.00
CE-2 0.00 0.00 0.00 31,196.14 0.00
P 0.00 0.00 100.00 12,982.25 0.00
R 0.00 0.00 0.00 0.00 0.00
Totals 4,162,241.70 0.00 139,161,593.52 4,696,492.30 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>
A-1 113,125,000.00 92,663,314.67 0.00 4,162,241.70 0.00 0.00
M-1 18,371,000.00 18,371,000.00 0.00 0.00 0.00 0.00
M-2 10,636,000.00 10,636,000.00 0.00 0.00 0.00 0.00
M-3 5,640,000.00 5,640,000.00 0.00 0.00 0.00 0.00
M-4 3,142,000.00 3,142,000.00 0.00 0.00 0.00 0.00
M-5 2,417,000.00 2,417,000.00 0.00 0.00 0.00 0.00
CE-1 7,818,982.03 9,900,318.44 0.00 0.00 0.00 0.00
CE-2 0.00 0.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 161,150,082.03 142,769,733.11 0.00 4,162,241.70 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
A-1 4,162,241.70 88,501,072.97 0.78232993 4,162,241.70
M-1 0.00 18,371,000.00 1.00000000 0.00
M-2 0.00 10,636,000.00 1.00000000 0.00
M-3 0.00 5,640,000.00 1.00000000 0.00
M-4 0.00 3,142,000.00 1.00000000 0.00
M-5 0.00 2,417,000.00 1.00000000 0.00
CE-1 0.00 10,454,420.55 1.33705647 0.00
CE-2 0.00 0.00 0.00000000 0.00
P 0.00 100.00 1.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 4,162,241.70 139,161,593.52 0.86355273 4,162,241.70
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
A-1 113,125,000.00 819.12322360 0.00000000 36.79329680 0.00000000
M-1 18,371,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 10,636,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 5,640,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 3,142,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 2,417,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE-1 7,818,982.03 1266.19020251 0.00000000 0.00000000 0.00000000
CE-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 36.79329680 782.32992681 0.78232993 36.79329680
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
CE-1 0.00000000 0.00000000 1,337.05647486 1.33705647 0.00000000
CE-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 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-1 113,125,000.00 4.23000% 92,663,314.67 315,750.24 0.00 0.00
M-1 18,371,000.00 4.53000% 18,371,000.00 67,038.84 0.00 0.00
M-2 10,636,000.00 5.33000% 10,636,000.00 45,666.85 0.00 0.00
M-3 5,640,000.00 6.83000% 5,640,000.00 31,030.97 0.00 0.00
M-4 3,142,000.00 6.83000% 3,142,000.00 17,287.11 0.00 0.00
M-5 2,417,000.00 6.83000% 2,417,000.00 13,298.20 0.00 0.00
CE-1 7,818,982.03 0.00000% 9,900,318.44 0.00 0.00 0.00
CE-2 0.00 0.00000% 0.00 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 161,150,082.03 490,072.21 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00 0.00 315,750.24 0.00 88,501,072.97
M-1 0.00 0.00 67,038.84 0.00 18,371,000.00
M-2 0.00 0.00 45,666.85 0.00 10,636,000.00
M-3 0.00 0.00 31,030.97 0.00 5,640,000.00
M-4 0.00 0.00 17,287.11 0.00 3,142,000.00
M-5 0.00 0.00 13,298.20 0.00 2,417,000.00
CE-1 0.00 0.00 0.00 0.00 10,454,420.55
CE-2 0.00 0.00 31,196.14 0.00 0.00
P 0.00 0.00 12,982.25 0.00 100.00
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 534,250.60 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 113,125,000.00 4.23000% 819.12322360 2.79116234 0.00000000 0.00000000
M-1 18,371,000.00 4.53000% 1000.00000000 3.64916662 0.00000000 0.00000000
M-2 10,636,000.00 5.33000% 1000.00000000 4.29361132 0.00000000 0.00000000
M-3 5,640,000.00 6.83000% 1000.00000000 5.50194504 0.00000000 0.00000000
M-4 3,142,000.00 6.83000% 1000.00000000 5.50194462 0.00000000 0.00000000
M-5 2,417,000.00 6.83000% 1000.00000000 5.50194456 0.00000000 0.00000000
CE-1 7,818,982.03 0.00000% 1266.19020251 0.00000000 0.00000000 0.00000000
CE-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) Per $1 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 0.00000000 2.79116234 0.00000000 782.32992681
M-1 0.00000000 0.00000000 3.64916662 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 4.29361132 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 5.50194504 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 5.50194462 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 5.50194456 0.00000000 1000.00000000
CE-1 0.00000000 0.00000000 0.00000000 0.00000000 1337.05647486
CE-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 129822.50000000 0.00000000 1000.00000000
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 4,746,365.56
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 402,710.07
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 12,982.25
Total Deposits 5,162,057.88
Withdrawals
Reimbursement for Servicer Advances 399,712.80
Payment of Service Fee 65,852.78
Payment of Interest and Principal 4,696,492.30
Total Withdrawals (Pool Distribution Amount) 5,162,057.88
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 57,227.11
Credit Risk Manager Fee- Risk Management Group, LLC 2,379.50
Master Servicing Fee 6,246.17
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 65,852.78
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 77 0 0 77
5,202,190.25 0.00 0.00 5,202,190.25
30 Days 152 16 0 0 168
12,941,816.40 911,134.32 0.00 0.00 13,852,950.72
60 Days 86 13 1 0 100
8,489,249.22 1,248,288.52 117,513.94 0.00 9,855,051.68
90 Days 50 15 15 0 80
4,319,456.50 1,209,739.36 1,938,165.23 0.00 7,467,361.09
120 Days 33 11 18 0 62
3,356,666.03 782,897.84 2,264,785.77 0.00 6,404,349.64
150 Days 16 12 9 0 37
1,357,201.03 677,625.75 601,628.71 0.00 2,636,455.49
180+ Days 30 61 17 1 109
2,306,620.93 5,049,678.57 1,441,887.11 62,582.22 8,860,768.83
Totals 367 205 60 1 633
32,771,010.11 15,081,554.61 6,363,980.76 62,582.22 54,279,127.70
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 5.216802% 0.000000% 0.000000% 5.216802%
3.735869% 0.000000% 0.000000% 3.735869%
30 Days 10.298103% 1.084011% 0.000000% 0.000000% 11.382114%
9.293957% 0.654316% 0.000000% 0.000000% 9.948274%
60 Days 5.826558% 0.880759% 0.067751% 0.000000% 6.775068%
6.096418% 0.896438% 0.084391% 0.000000% 7.077247%
90 Days 3.387534% 1.016260% 1.016260% 0.000000% 5.420054%
3.101948% 0.868755% 1.391862% 0.000000% 5.362565%
120 Days 2.235772% 0.745257% 1.219512% 0.000000% 4.200542%
2.410536% 0.562225% 1.626419% 0.000000% 4.599181%
150 Days 1.084011% 0.813008% 0.609756% 0.000000% 2.506775%
0.974652% 0.486626% 0.432050% 0.000000% 1.893328%
180+ Days 2.032520% 4.132791% 1.151762% 0.067751% 7.384824%
1.656463% 3.626345% 1.035468% 0.044942% 6.363219%
Totals 24.864499% 13.888889% 4.065041% 0.067751% 42.886179%
23.533974% 10.830576% 4.570190% 0.044942% 38.979683%
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 72 0 0 72
4,761,805.76 0.00 0.00 4,761,805.76
30 Days 118 16 0 0 134
7,488,654.20 911,134.32 0.00 0.00 8,399,788.52
60 Days 61 8 0 0 69
4,237,883.08 489,205.26 0.00 0.00 4,727,088.34
90 Days 45 14 9 0 68
3,341,309.30 1,170,446.32 882,080.40 0.00 5,393,836.02
120 Days 23 8 11 0 42
1,276,488.07 374,955.61 861,506.78 0.00 2,512,950.46
150 Days 12 10 7 0 29
822,800.25 529,409.54 309,708.20 0.00 1,661,917.99
180+ Days 26 44 15 1 86
1,849,220.77 3,805,665.30 1,078,813.03 62,582.22 6,796,281.32
Totals 285 172 42 1 500
19,016,355.67 12,042,622.11 3,132,108.41 62,582.22 34,253,668.41
0-29 Days 6.233766% 0.000000% 0.000000% 6.233766%
5.897820% 0.000000% 0.000000% 5.897820%
30 Days 10.216450% 1.385281% 0.000000% 0.000000% 11.601732%
9.275206% 1.128502% 0.000000% 0.000000% 10.403708%
60 Days 5.281385% 0.692641% 0.000000% 0.000000% 5.974026%
5.248906% 0.605914% 0.000000% 0.000000% 5.854820%
90 Days 3.896104% 1.212121% 0.779221% 0.000000% 5.887446%
4.138438% 1.449677% 1.092516% 0.000000% 6.680632%
120 Days 1.991342% 0.692641% 0.952381% 0.000000% 3.636364%
1.581017% 0.464408% 1.067035% 0.000000% 3.112460%
150 Days 1.038961% 0.865801% 0.606061% 0.000000% 2.510823%
1.019094% 0.655710% 0.383595% 0.000000% 2.058398%
180+ Days 2.251082% 3.809524% 1.298701% 0.086580% 7.445887%
2.290385% 4.713575% 1.336183% 0.077512% 8.417656%
Totals 24.675325% 14.891775% 3.636364% 0.086580% 43.290043%
23.553047% 14.915605% 3.879329% 0.077512% 42.425492%
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 5 0 0 5
440,384.49 0.00 0.00 440,384.49
30 Days 34 0 0 0 34
5,453,162.20 0.00 0.00 0.00 5,453,162.20
60 Days 25 5 1 0 31
4,251,366.14 759,083.26 117,513.94 0.00 5,127,963.34
90 Days 5 1 6 0 12
978,147.20 39,293.04 1,056,084.83 0.00 2,073,525.07
120 Days 10 3 7 0 20
2,080,177.96 407,942.23 1,403,278.99 0.00 3,891,399.18
150 Days 4 2 2 0 8
534,400.78 148,216.21 291,920.51 0.00 974,537.50
180+ Days 4 17 2 0 23
457,400.16 1,244,013.27 363,074.08 0.00 2,064,487.51
Totals 82 33 18 0 133
13,754,654.44 3,038,932.50 3,231,872.35 0.00 20,025,459.29
0-29 Days 1.557632% 0.000000% 0.000000% 1.557632%
0.752648% 0.000000% 0.000000% 0.752648%
30 Days 10.591900% 0.000000% 0.000000% 0.000000% 10.591900%
9.319832% 0.000000% 0.000000% 0.000000% 9.319832%
60 Days 7.788162% 1.557632% 0.311526% 0.000000% 9.657321%
7.265879% 1.297326% 0.200839% 0.000000% 8.764044%
90 Days 1.557632% 0.311526% 1.869159% 0.000000% 3.738318%
1.671721% 0.067155% 1.804922% 0.000000% 3.543798%
120 Days 3.115265% 0.934579% 2.180685% 0.000000% 6.230530%
3.555168% 0.697201% 2.398301% 0.000000% 6.650670%
150 Days 1.246106% 0.623053% 0.623053% 0.000000% 2.492212%
0.913328% 0.253312% 0.498912% 0.000000% 1.665552%
180+ Days 1.246106% 5.295950% 0.623053% 0.000000% 7.165109%
0.781729% 2.126105% 0.620519% 0.000000% 3.528352%
Totals 25.545171% 10.280374% 5.607477% 0.000000% 41.433022%
23.507656% 5.193746% 5.523493% 0.000000% 34.224896%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 402,710.07
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 M-1 29,654,082.03 18.40153083% 32,289,520.55 23.20289653% 13.201200% 0.000000%
Class M-2 19,018,082.03 11.80147214% 21,653,520.55 15.55998318% 7.642913% 0.000000%
Class M-3 13,378,082.03 8.30162905% 16,013,520.55 11.50714083% 4.052842% 0.000000%
Class M-4 10,236,082.03 6.35189378% 12,871,520.55 9.24933398% 2.257807% 0.000000%
Class CE-1 100.00 0.00006205% 100.00 0.00007186% 7.512432% 0.000000%
Class P 0.00 0.00000000% 0.00 0.00000000% 0.000072% 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 1 Apr-05 0.000%
Original Principal Balance 63,640.00 May-05 0.000%
Current Principal Balance 62,582.22 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.043%
Sep-05 0.044%
Oct-05 0.045%
*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.
Group 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 1 Apr-05 0.000%
Original Principal Balance 63,640.00 May-05 0.000%
Current Principal Balance 62,582.22 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.074%
Sep-05 0.076%
Oct-05 0.078%
*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.
Group 2 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
REO Loan Detail - All Mortgage Loans in REO during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number REO Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
Group 1 0110408800 Aug-2005 01-May-2001 MI 74.00 63,640.00
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>
Group 1 0110408800 62,582.22 01-Jul-2004 14 10.850% 2,164.59
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 36 Nov-04 0.000%
Original Principal Balance 4,002,888.00 Dec-04 0.000%
Current Principal Balance 3,897,140.25 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 60 Apr-05 0.000%
Original Principal Balance 6,546,958.00 May-05 0.000%
Current Principal Balance 6,363,980.76 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.559%
Sep-05 2.586%
Oct-05 4.570%
*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.
Group 1 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 26 Nov-04 0.000%
Original Principal Balance 1,915,074.00 Dec-04 0.000%
Current Principal Balance 1,854,220.36 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 42 Apr-05 0.000%
Original Principal Balance 3,262,249.00 May-05 0.000%
Current Principal Balance 3,132,108.41 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.974%
Sep-05 2.085%
Oct-05 3.879%
*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.
Group 2 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 10 Nov-04 0.000%
Original Principal Balance 2,087,814.00 Dec-04 0.000%
Current Principal Balance 2,042,919.89 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 18 Apr-05 0.000%
Original Principal Balance 3,284,709.00 May-05 0.000%
Current Principal Balance 3,231,872.35 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 3.268%
Oct-05 5.523%
*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>
Group 1 0110206231 Sep-2005 01-Feb-1998 NY 90.00 60,300.00
Group 1 0110260040 Oct-2005 01-Jun-1999 CA 90.00 247,500.00
Group 1 0110260429 Oct-2005 01-Oct-1994 IL 68.12 47,000.00
Group 1 0110286965 Oct-2005 26-Jan-2001 TX 94.20 65,000.00
Group 1 0110287221 Oct-2005 24-Dec-2003 TX 88.07 66,052.00
Group 1 0110331842 Oct-2005 01-Sep-2004 AZ 100.00 16,400.00
Group 1 0110367425 Oct-2005 06-Jan-2001 KY 86.69 45,510.00
Group 1 0110367948 Oct-2005 01-Dec-2000 OH 82.94 70,500.00
Group 1 0110368391 Oct-2005 11-Aug-1999 PA 89.74 40,830.00
Group 1 0110368887 Oct-2005 05-Aug-1999 MI 93.03 41,863.00
Group 1 0110369130 Oct-2005 02-Apr-2000 OH 87.55 70,481.00
Group 1 0110369706 Oct-2005 09-Sep-2000 GA 81.30 56,100.00
Group 1 0110408621 Aug-2005 14-Oct-1998 MD 80.00 48,800.00
Group 1 0110408678 Aug-2005 20-Jan-2000 OH 85.00 68,000.00
Group 1 0110408707 Aug-2005 15-Jul-1998 AL 80.00 192,000.00
Group 1 0110408723 Oct-2005 27-Feb-1999 NC 80.00 78,800.00
Group 1 0110408736 Sep-2005 20-Mar-2002 SC 53.19 25,000.00
Group 1 0110408821 Aug-2005 01-Dec-2001 NY 85.00 153,000.00
Group 1 0110408825 Oct-2005 15-Aug-2001 PA 80.00 65,680.00
Group 1 0110408864 Oct-2005 25-Nov-1999 PA 85.00 35,700.00
Group 1 0110408900 Oct-2005 22-Mar-2001 MI 70.00 36,400.00
Group 1 0110408933 Sep-2005 04-Sep-2000 WI 70.00 45,500.00
Group 1 0110408957 Oct-2005 14-Dec-2002 PA 77.78 70,000.00
Group 1 0110409067 Sep-2005 07-Mar-2001 PA 85.00 43,775.00
Group 1 0110409073 Aug-2005 16-Feb-2001 KS 100.00 50,000.00
Group 1 0110409093 Oct-2005 15-Dec-2000 IL 100.00 49,000.00
Group 1 0110409096 Sep-2005 02-Feb-2001 PA 100.00 121,000.00
Group 1 0110409133 Oct-2005 20-Nov-2000 PA 80.00 52,000.00
Group 1 0110409146 Aug-2005 01-May-2000 MD 75.00 51,750.00
Group 1 0110409823 Sep-2005 24-Jul-2002 SC 90.00 62,550.00
Group 1 0110409999 Oct-2005 02-Aug-2002 MN 90.00 139,500.00
Group 1 0110410023 Oct-2005 08-Jun-2002 MN 80.00 74,400.00
Group 1 0110410131 Sep-2005 07-Apr-2002 OH 90.00 76,500.00
Group 1 0110410369 Aug-2005 01-Jun-2002 NY 75.00 30,000.00
Group 1 0110410977 Sep-2005 21-Apr-2003 CT 80.25 130,000.00
Group 1 0110411322 Aug-2005 01-Mar-2002 MN 90.00 189,000.00
Group 1 0110436353 Oct-2005 01-Jan-2005 NC 90.00 186,858.00
Group 1 0110465350 Oct-2005 01-Apr-2005 CA 100.00 145,000.00
Group 1 0110465863 Oct-2005 01-Jan-2005 TN 69.92 86,000.00
Group 1 0110465888 Oct-2005 01-Jan-2005 OK 78.17 98,500.00
Group 1 0110475905 Oct-2005 01-Nov-2003 NY 95.00 22,500.00
Group 1 0110475910 Oct-2005 01-Aug-2004 GA 100.00 7,500.00
Group 2 0110173065 Sep-2005 01-Jul-2002 ID 80.00 90,720.00
Group 2 0110254380 Oct-2005 01-Apr-2004 CT 85.00 188,400.00
Group 2 0110259584 Sep-2005 01-Jun-2003 CO 80.00 144,000.00
Group 2 0110287251 Oct-2005 01-Oct-2002 KY 144.91 615,854.00
Group 2 0110338659 Oct-2005 01-Oct-2004 OH 80.00 111,920.00
Group 2 0110338871 Oct-2005 01-Oct-2004 PA 80.00 55,200.00
Group 2 0110401680 Sep-2005 01-Jan-2005 CA 77.14 113,400.00
Group 2 0110408958 Oct-2005 17-Nov-2002 PA 90.00 99,000.00
Group 2 0110423504 Oct-2005 01-Nov-2004 NY 75.00 273,750.00
Group 2 0110426348 Oct-2005 01-Aug-2004 CO 77.55 411,000.00
Group 2 0110433467 Sep-2005 01-May-2004 IL 90.00 184,500.00
Group 2 0110433469 Sep-2005 01-Sep-2004 FL 85.00 109,650.00
Group 2 0110433473 Sep-2005 01-Oct-2004 GA 85.00 106,250.00
Group 2 0110433483 Oct-2005 01-May-2004 IN 90.00 118,800.00
Group 2 0110433486 Sep-2005 01-Sep-2004 NC 85.00 57,375.00
Group 2 0110436346 Oct-2005 01-Dec-2004 TX 80.00 104,000.00
Group 2 0110436357 Sep-2005 01-Jan-2005 CA 85.00 391,000.00
Group 2 0110465869 Oct-2005 01-Jun-2004 IL 89.34 109,890.00
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>
Group 1 0110206231 57,965.04 01-Apr-2003 28 10.000% 1,837.72
Group 1 0110260040 229,751.14 01-May-2005 3 7.500% 5,350.50
Group 1 0110260429 40,956.91 01-May-2005 3 9.750% 1,266.09
Group 1 0110286965 63,736.07 26-Apr-2005 4 12.000% 2,473.26
Group 1 0110287221 63,336.30 24-Apr-2005 4 10.000% 2,028.53
Group 1 0110331842 16,372.09 01-Mar-2005 5 12.875% 677.13
Group 1 0110367425 45,346.64 06-Mar-2004 17 11.750% 2,125.65
Group 1 0110367948 68,975.05 01-May-2005 3 9.990% 2,727.40
Group 1 0110368391 36,674.37 11-Apr-2005 4 11.000% 1,604.50
Group 1 0110368887 41,516.95 05-May-2005 3 6.999% 897.58
Group 1 0110369130 71,902.46 02-Mar-2005 5 9.000% 2,034.66
Group 1 0110369706 56,100.00 09-Apr-2005 4 13.250% 2,980.30
Group 1 0110408621 40,801.61 14-Jan-2005 7 8.640% 1,110.33
Group 1 0110408678 65,994.13 20-Sep-2004 11 10.700% 2,249.80
Group 1 0110408707 157,309.04 15-Apr-2005 4 8.250% 4,129.46
Group 1 0110408723 72,898.38 27-Sep-2004 11 9.490% 2,191.93
Group 1 0110408736 22,504.95 20-Apr-2005 4 10.800% 774.11
Group 1 0110408821 150,760.51 01-Nov-2004 9 11.000% 5,291.47
Group 1 0110408825 63,814.64 15-Mar-2005 5 8.990% 1,811.80
Group 1 0110408864 32,459.42 25-Jun-2004 13 9.850% 1,014.53
Group 1 0110408900 35,442.09 22-May-2005 3 10.650% 1,203.18
Group 1 0110408933 44,200.91 04-Mar-2005 5 10.240% 1,439.09
Group 1 0110408957 68,593.32 14-Jul-2004 13 6.375% 1,351.13
Group 1 0110409067 42,743.35 07-Apr-2005 4 10.000% 1,357.53
Group 1 0110409073 46,786.48 16-Nov-2004 9 11.200% 1,673.77
Group 1 0110409093 42,445.36 15-Sep-2004 11 10.700% 1,445.52
Group 1 0110409096 118,771.22 02-Apr-2005 4 11.750% 4,465.45
Group 1 0110409133 50,780.81 20-Jan-2005 6 11.050% 1,792.66
Group 1 0110409146 50,739.83 01-Dec-2004 8 12.450% 2,026.05
Group 1 0110409823 61,344.21 24-Apr-2005 3 8.740% 1,691.95
Group 1 0110409999 137,401.99 02-Feb-2005 6 9.800% 4,278.50
Group 1 0110410023 72,871.76 08-May-2005 3 9.700% 2,243.47
Group 1 0110410131 74,825.34 07-Apr-2005 4 9.300% 2,203.45
Group 1 0110410369 29,574.89 01-Sep-2004 11 9.900% 929.57
Group 1 0110410977 127,301.92 21-Apr-2005 4 7.500% 2,982.29
Group 1 0110411322 186,264.62 01-Jan-2005 8 9.990% 5,910.34
Group 1 0110436353 186,326.41 01-May-2005 3 8.875% 5,197.04
Group 1 0110465350 144,895.88 01-May-2005 3 10.990% 5,083.67
Group 1 0110465863 85,494.28 01-Mar-2005 5 6.875% 1,811.29
Group 1 0110465888 98,204.22 01-Apr-2005 4 7.490% 2,287.27
Group 1 0110475905 20,690.26 01-Mar-2005 5 12.240% 805.44
Group 1 0110475910 7,233.56 01-Mar-2005 5 12.249% 282.13
Group 2 0110173065 89,660.36 01-Jan-2004 19 10.250% 2,919.63
Group 2 0110254380 188,400.00 01-May-2005 3 6.200% 3,579.60
Group 2 0110259584 141,260.21 01-May-2005 3 9.375% 3,950.87
Group 2 0110287251 578,697.31 17-Apr-2005 4 8.000% 14,756.00
Group 2 0110338659 111,428.11 01-May-2005 3 9.100% 3,191.52
Group 2 0110338871 54,994.97 01-Apr-2005 4 9.250% 1,603.58
Group 2 0110401680 113,364.19 01-Apr-2005 4 6.250% 2,172.80
Group 2 0110408958 97,788.64 17-May-2005 3 11.750% 3,678.57
Group 2 0110423504 273,413.72 01-Dec-2004 8 8.450% 7,278.50
Group 2 0110426348 408,129.62 01-May-2005 3 7.950% 10,124.08
Group 2 0110433467 182,880.19 01-Mar-2005 5 7.499% 4,261.41
Group 2 0110433469 109,078.25 01-May-2005 3 8.990% 3,087.82
Group 2 0110433473 105,764.83 01-Apr-2005 4 8.240% 2,725.95
Group 2 0110433483 117,513.94 01-Jun-2005 2 7.499% 2,744.95
Group 2 0110433486 57,059.01 01-Apr-2005 4 7.990% 1,424.07
Group 2 0110436346 103,513.26 01-Apr-2005 4 6.375% 2,026.16
Group 2 0110436357 389,885.42 01-Apr-2005 4 7.750% 9,411.92
Group 2 0110465869 109,040.32 01-Mar-2005 5 7.499% 2,540.86
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 9.592182%
Weighted Average Net Coupon 9.111180%
Weighted Average Pass-Through Rate 9.038678%
Weighted Average Maturity(Stepdown Calculation) 294
Beginning Scheduled Collateral Loan Count 1,509
Number Of Loans Paid In Full 33
Ending Scheduled Collateral Loan Count 1,476
Beginning Scheduled Collateral Balance 142,769,733.11
Ending Scheduled Collateral Balance 139,161,593.52
Ending Actual Collateral Balance at 30-Sep-2005 139,249,792.58
Monthly P&I Constant 1,163,937.14
Special Servicing Fee 0.00
Prepayment Penalties 12,982.25
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 162,106.49
Unscheduled Principal 3,446,033.10
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 554,102.11
Overcollateralized reduction Amount 0.00
Specified O/C Amount 11,763,955.99
Overcollateralized Amount 10,454,420.55
Overcollateralized Deficiency Amount 1,309,535.44
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 554,102.11
Excess Cash Amount 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Coupon Rate 9.592182%
Weighted Average Net Rate 9.111180%
Weighted Average Pass Through Rate 9.038678%
Weighted Average Maturity 294
Record Date 09/30/2005
Principal and Interest Constant 1,163,937.14
Beginning Loan Count 1,509
Loans Paid in Full 33
Ending Loan Count 1,476
Beginning Scheduled Balance 142,769,733.11
Ending Scheduled Balance 139,161,593.52
Ending Actual Balance at 30-Sep-2005 139,249,792.58
Scheduled Principal 162,106.49
Unscheduled Principal 3,446,033.10
Scheduled Interest 1,001,830.65
Servicing Fee 57,227.11
Master Servicing Fee 6,246.17
Trustee Fee 0.00
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 2,379.50
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 935,977.87
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Special Servicing Fee 0.00
Prepayment Penalties 12,982.25
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 554,102.11
Overcollateralized Reduction Amount 0.00
Specified O/C Amount 11,763,955.99
Overcollateralized Amount 10,454,420.55
Overcollateralized Deficiency Amount 1,309,535.44
Base Overcollateralization 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>
Group 1 23 1,530,059.00 1,486,754.61 0 0.00 0.00
Group 2 10 1,979,290.00 1,952,523.51 0 0.00 0.00
Total 33 3,509,349.00 3,439,278.12 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>
Group 1 0 0.00 0.00 0 0.00 0.00 5,153.44
Group 2 0 0.00 0.00 0 0.00 0.00 4,594.57
Total 0 0.00 0.00 0 0.00 0.00 9,748.01
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>
Group 1 0110206213 FL 75.00 01-Jul-1998 49,500.00 47,190.18
Group 1 0110287211 TX 117.99 01-Jul-2004 94,381.00 93,768.38
Group 1 0110367578 MI 74.27 20-Jan-2001 63,499.00 62,293.95
Group 1 0110368356 IN 95.68 06-Sep-1999 64,104.00 63,882.19
Group 1 0110368443 PA 94.86 13-May-2000 73,519.00 71,916.03
Group 1 0110368752 VA 100.00 20-Jan-2000 7,299.00 4,483.89
Group 1 0110369203 OH 88.30 14-Apr-2000 62,691.00 60,338.99
Group 1 0110408829 LA 100.00 15-Jul-2001 138,800.00 134,841.20
Group 1 0110409001 CT 100.00 27-Sep-2001 25,700.00 23,921.48
Group 1 0110409054 FL 85.00 13-Dec-2000 42,500.00 40,533.50
Group 1 0110409092 PA 100.00 16-Dec-2000 11,000.00 7,082.76
Group 1 0110410013 MO 82.53 21-Jun-2002 68,500.00 67,096.45
Group 1 0110410049 OR 90.00 01-Mar-2002 145,800.00 141,329.81
Group 1 0110410111 IN 90.00 11-Apr-2002 81,000.00 78,406.09
Group 1 0110410372 AR 90.00 01-May-2002 55,800.00 52,205.78
Group 1 0110411115 FL 119.48 01-Oct-2002 23,000.00 21,094.11
Group 1 0110411277 NY 90.00 19-Mar-2002 224,100.00 220,957.55
Group 1 0110423563 FL 95.00 01-Nov-2004 14,750.00 11,528.90
Group 1 0110423625 NV 100.00 01-Nov-2004 47,200.00 46,989.95
Group 1 0110423638 CA 100.00 01-Oct-2004 104,000.00 103,422.24
Group 1 0110426239 NM 100.00 01-Sep-2004 60,400.00 60,122.42
Group 1 0110465455 CA 96.38 01-Mar-2005 67,466.00 67,313.91
Group 1 0110475911 TX 95.00 01-Aug-2004 5,050.00 4,751.05
Group 2 0110173049 IL 85.00 01-May-2001 72,250.00 70,951.62
Group 2 0110305986 CA 76.65 01-May-2004 435,000.00 425,057.77
Group 2 0110369996 CA 80.00 01-Jun-1999 42,400.00 40,381.18
Group 2 0110385630 CA 85.00 01-Dec-2004 263,500.00 261,604.12
Group 2 0110426214 CA 82.57 01-Oct-2004 289,000.00 285,413.98
Group 2 0110426216 CT 78.95 01-Jan-2005 75,000.00 74,943.22
Group 2 0110426331 NJ 80.00 01-Nov-2004 144,000.00 142,715.78
Group 2 0110426381 NY 90.00 01-Mar-2004 111,240.00 109,529.88
Group 2 0110436831 CA 85.00 01-Mar-2005 388,000.00 384,018.67
Group 2 0110465887 CA 70.00 01-May-2004 158,900.00 156,198.06
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>
Group 1 0110206213 Loan Paid in Full 8 10.500% 360 87
Group 1 0110287211 Loan Paid in Full 0 11.875% 329 15
Group 1 0110367578 Loan Paid in Full 4 13.250% 360 56
Group 1 0110368356 Loan Paid in Full 0 10.750% 362 73
Group 1 0110368443 Loan Paid in Full 0 7.250% 300 65
Group 1 0110368752 Loan Paid in Full 0 15.500% 120 68
Group 1 0110369203 Loan Paid in Full 0 10.250% 339 66
Group 1 0110408829 Loan Paid in Full 0 10.240% 365 51
Group 1 0110409001 Loan Paid in Full 0 11.550% 242 48
Group 1 0110409054 Loan Paid in Full 0 10.800% 367 58
Group 1 0110409092 Loan Paid in Full 1 11.140% 120 58
Group 1 0110410013 Loan Paid in Full 1 9.950% 360 39
Group 1 0110410049 Loan Paid in Full (1) 10.450% 360 43
Group 1 0110410111 Loan Paid in Full 0 7.750% 180 42
Group 1 0110410372 Loan Paid in Full 0 9.950% 240 41
Group 1 0110411115 Loan Paid in Full 0 12.500% 180 36
Group 1 0110411277 Loan Paid in Full 0 9.950% 373 42
Group 1 0110423563 Loan Paid in Full (1) 12.500% 120 11
Group 1 0110423625 Loan Paid in Full 0 10.625% 360 11
Group 1 0110423638 Loan Paid in Full 0 10.000% 360 12
Group 1 0110426239 Loan Paid in Full 0 11.300% 360 13
Group 1 0110465455 Loan Paid in Full 4 9.990% 360 7
Group 1 0110475911 Loan Paid in Full 2 12.250% 120 14
Group 2 0110173049 Loan Paid in Full 7 12.625% 360 53
Group 2 0110305986 Loan Paid in Full 0 5.500% 360 17
Group 2 0110369996 Loan Paid in Full 1 10.500% 360 76
Group 2 0110385630 Loan Paid in Full 2 7.800% 360 10
Group 2 0110426214 Loan Paid in Full 0 7.990% 360 12
Group 2 0110426216 Loan Paid in Full (1) 7.400% 360 9
Group 2 0110426331 Loan Paid in Full (1) 7.500% 360 11
Group 2 0110426381 Loan Paid in Full 0 7.850% 360 19
Group 2 0110436831 Loan Paid in Full 0 7.000% 360 7
Group 2 0110465887 Loan Paid in Full 0 5.850% 360 17
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.416% Current Month 25.438% Current Month 423.961%
3 Month Average 3.242% 3 Month Average 32.111% 3 Month Average 535.183%
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 39.867% N/A Jul-2005 664.449% N/A
Aug-2005 44.485% N/A Aug-2005 741.419% N/A
Sep-2005 26.410% N/A Sep-2005 440.168% N/A
Oct-2005 25.438% N/A Oct-2005 423.961% 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.
Group 1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.814% Current Month 19.722% Current Month 328.700%
3 Month Average 2.265% 3 Month Average 23.906% 3 Month Average 398.438%
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 26.989% N/A Jul-2005 449.824% N/A
Aug-2005 30.217% N/A Aug-2005 503.615% N/A
Sep-2005 21.780% N/A Sep-2005 362.999% N/A
Oct-2005 19.722% N/A Oct-2005 328.700% 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.
Group 2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 3.236% Current Month 32.612% Current Month 775.895%
3 Month Average 4.524% 3 Month Average 41.257% 3 Month Average 1,052.539%
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 52.964% N/A Jul-2005 1,533.545% N/A
Aug-2005 58.920% N/A Aug-2005 1,569.011% N/A
Sep-2005 32.241% N/A Sep-2005 812.711% N/A
Oct-2005 32.612% N/A Oct-2005 775.895% 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>
Group 1 0 0.00 0.00 0.000%
Group 2 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 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.
Group 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.
Group 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.
<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>