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): November 25, 2005
BANC OF AMERICA ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2005-3 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-18
Pooling and Servicing Agreement) (Commission 54-2169430
(State or other File Number) 54-2169431
jurisdiction 54-6658761
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 November 25, 2005 a distribution was made to holders of BANC OF AMERICA
ALTERNATIVE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2005-3
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 2005-3 Trust, relating to the
November 25, 2005 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BANC OF AMERICA ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2005-3 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 11/28/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2005-3 Trust,
relating to the November 25, 2005 distribution.
EX-99.1
Banc of America Alternative Loan Trust
Mortgage Pass-Through Certificates
Record Date: 10/31/2005
Distribution Date: 11/25/2005
Banc of America Alternative Loan Trust
Mortgage Pass-Through Certificates
Series 2005-3
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
1-CB-3 05948KYM5 SEN 5.50000% 1,312,597.29 6,016.07
1-CB-1 05948KYK9 SEN 4.53750% 162,722,397.00 615,294.06
1-CB-2 05948KYL7 SEN 0.96250% 0.00 130,516.92
1-CB-4 05948KYN3 SEN 5.50000% 1,955,373.29 8,962.13
1-CB-R 05948KYP8 SEN 5.50000% 0.00 0.00
1-CB-LR 05948KYQ6 SEN 5.50000% 0.00 0.00
2-A-1 05948KYR4 SEN 5.50000% 39,490,118.65 180,996.38
A-IO 05948KYS2 SEN 5.50000% 0.00 53,384.68
A-PO 05948KYT0 PO 0.00000% 1,749,870.54 0.00
B1 05948KYU7 SUB 5.50000% 4,610,504.03 21,131.48
B2 05948KYV5 SUB 5.50000% 1,772,966.36 8,126.10
B3 05948KYW3 SUB 5.50000% 1,063,581.94 4,874.75
B4 05948KYX1 SUB 5.50000% 945,845.89 4,335.13
B5 05948KYY9 SUB 5.50000% 590,658.99 2,707.19
B6 05948KYZ6 SUB 5.50000% 946,492.53 4,338.09
Totals 217,160,406.51 1,040,682.98
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-CB-3 17,595.85 0.00 1,295,001.44 23,611.92 0.00
1-CB-1 2,181,353.09 0.00 160,541,043.92 2,796,647.15 0.00
1-CB-2 0.00 0.00 0.00 130,516.92 0.00
1-CB-4 26,212.49 0.00 1,929,160.80 35,174.62 0.00
1-CB-R 0.00 0.00 0.00 0.00 0.00
1-CB-LR 0.00 0.00 0.00 0.00 0.00
2-A-1 602,272.84 0.00 38,887,845.81 783,269.22 0.00
A-IO 0.00 0.00 0.00 53,384.68 0.00
A-PO 16,704.21 0.00 1,733,166.33 16,704.21 0.00
B1 7,238.10 0.00 4,603,265.93 28,369.58 0.00
B2 2,783.41 0.00 1,770,182.95 10,909.51 0.00
B3 1,669.73 0.00 1,061,912.20 6,544.48 0.00
B4 1,484.90 0.00 944,360.99 5,820.03 0.00
B5 927.28 0.00 589,731.71 3,634.47 0.00
B6 1,485.76 0.00 945,006.62 5,823.85 0.00
Totals 2,859,727.66 0.00 214,300,678.70 3,900,410.64 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
This report has been compiled from information provided to Wells Fargo Bank, N.A. by various
third parties, which may include the Servicer, Master Servicer, Special Servicer and others.
Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received
from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly
disclaims any responsibility for the accuracy or completeness of information furnished by
third parties.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
1-CB-3 1,456,000.00 1,312,597.29 1,362.54 16,233.31 0.00 0.00
1-CB-1 180,500,000.00 162,722,397.00 168,913.68 2,012,439.41 0.00 0.00
1-CB-2 0.00 0.00 0.00 0.00 0.00 0.00
1-CB-4 2,169,000.00 1,955,373.29 2,029.77 24,182.72 0.00 0.00
1-CB-R 50.00 0.00 0.00 0.00 0.00 0.00
1-CB-LR 50.00 0.00 0.00 0.00 0.00 0.00
2-A-1 42,893,000.00 39,490,118.65 150,946.63 451,326.21 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
A-PO 1,905,663.00 1,749,870.54 5,792.08 10,912.13 0.00 0.00
B1 4,660,000.00 4,610,504.03 7,238.10 0.00 0.00 0.00
B2 1,792,000.00 1,772,966.36 2,783.41 0.00 0.00 0.00
B3 1,075,000.00 1,063,581.94 1,669.73 0.00 0.00 0.00
B4 956,000.00 945,845.89 1,484.90 0.00 0.00 0.00
B5 597,000.00 590,658.99 927.28 0.00 0.00 0.00
B6 956,653.00 946,492.53 1,485.76 0.00 0.00 0.00
Totals 238,960,416.00 217,160,406.51 344,633.88 2,515,093.78 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
1-CB-3 17,595.85 1,295,001.44 0.88942407 17,595.85
1-CB-1 2,181,353.09 160,541,043.92 0.88942407 2,181,353.09
1-CB-2 0.00 0.00 0.00000000 0.00
1-CB-4 26,212.49 1,929,160.80 0.88942407 26,212.49
1-CB-R 0.00 0.00 0.00000000 0.00
1-CB-LR 0.00 0.00 0.00000000 0.00
2-A-1 602,272.84 38,887,845.81 0.90662453 602,272.84
A-IO 0.00 0.00 0.00000000 0.00
A-PO 16,704.21 1,733,166.33 0.90948207 16,704.21
B1 7,238.10 4,603,265.93 0.98782531 7,238.10
B2 2,783.41 1,770,182.95 0.98782531 2,783.41
B3 1,669.73 1,061,912.20 0.98782530 1,669.73
B4 1,484.90 944,360.99 0.98782530 1,484.90
B5 927.28 589,731.71 0.98782531 927.28
B6 1,485.76 945,006.62 0.98782591 1,485.76
Totals 2,859,727.66 214,300,678.70 0.89680409 2,859,727.66
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
1-CB-3 1,456,000.00 901.50912775 0.93581044 11.14925137 0.00000000
1-CB-1 180,500,000.00 901.50912465 0.93580986 11.14924881 0.00000000
1-CB-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-4 2,169,000.00 901.50912402 0.93580913 11.14924850 0.00000000
1-CB-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-LR 50.00 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 42,893,000.00 920.66581144 3.51914368 10.52214138 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-PO 1,905,663.00 918.24763350 3.03940413 5.72615935 0.00000000
B1 4,660,000.00 989.37854721 1.55324034 0.00000000 0.00000000
B2 1,792,000.00 989.37854911 1.55324219 0.00000000 0.00000000
B3 1,075,000.00 989.37854884 1.55323721 0.00000000 0.00000000
B4 956,000.00 989.37854603 1.55324268 0.00000000 0.00000000
B5 597,000.00 989.37854271 1.55323283 0.00000000 0.00000000
B6 956,653.00 989.37914793 1.55308142 0.00000000 0.00000000
<FN>
(2) All classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
1-CB-3 0.00000000 12.08506181 889.42406593 0.88942407 12.08506181
1-CB-1 0.00000000 12.08505867 889.42406604 0.88942407 12.08505867
1-CB-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-4 0.00000000 12.08505763 889.42406639 0.88942407 12.08505763
1-CB-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 0.00000000 14.04128506 906.62452638 0.90662453 14.04128506
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-PO 0.00000000 8.76556348 909.48207002 0.90948207 8.76556348
B1 0.00000000 1.55324034 987.82530687 0.98782531 1.55324034
B2 0.00000000 1.55324219 987.82530692 0.98782531 1.55324219
B3 0.00000000 1.55323721 987.82530233 0.98782530 1.55323721
B4 0.00000000 1.55324268 987.82530335 0.98782530 1.55324268
B5 0.00000000 1.55323283 987.82530988 0.98782531 1.55323283
B6 0.00000000 1.55308142 987.82590971 0.98782591 1.55308142
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1-CB-3 1,456,000.00 5.50000% 1,312,597.29 6,016.07 0.00 0.00
1-CB-1 180,500,000.00 4.53750% 162,722,397.00 615,294.06 0.00 0.00
1-CB-2 0.00 0.96250% 162,722,397.00 130,516.92 0.00 0.00
1-CB-4 2,169,000.00 5.50000% 1,955,373.29 8,962.13 0.00 0.00
1-CB-R 50.00 5.50000% 0.00 0.00 0.00 0.00
1-CB-LR 50.00 5.50000% 0.00 0.00 0.00 0.00
2-A-1 42,893,000.00 5.50000% 39,490,118.65 180,996.38 0.00 0.00
A-IO 0.00 5.50000% 11,647,567.37 53,384.68 0.00 0.00
A-PO 1,905,663.00 0.00000% 1,749,870.54 0.00 0.00 0.00
B1 4,660,000.00 5.50000% 4,610,504.03 21,131.48 0.00 0.00
B2 1,792,000.00 5.50000% 1,772,966.36 8,126.10 0.00 0.00
B3 1,075,000.00 5.50000% 1,063,581.94 4,874.75 0.00 0.00
B4 956,000.00 5.50000% 945,845.89 4,335.13 0.00 0.00
B5 597,000.00 5.50000% 590,658.99 2,707.19 0.00 0.00
B6 956,653.00 5.50000% 946,492.53 4,338.09 0.00 0.00
Totals 238,960,416.00 1,040,682.98 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1-CB-3 0.00 0.00 6,016.07 0.00 1,295,001.44
1-CB-1 0.00 0.00 615,294.06 0.00 160,541,043.92
1-CB-2 0.00 0.00 130,516.92 0.00 160,541,043.92
1-CB-4 0.00 0.00 8,962.13 0.00 1,929,160.80
1-CB-R 0.00 0.00 0.00 0.00 0.00
1-CB-LR 0.00 0.00 0.00 0.00 0.00
2-A-1 0.00 0.00 180,996.38 0.00 38,887,845.81
A-IO 0.00 0.00 53,384.68 0.00 11,470,812.62
A-PO 0.00 0.00 0.00 0.00 1,733,166.33
B1 0.00 0.00 21,131.48 0.00 4,603,265.93
B2 0.00 0.00 8,126.10 0.00 1,770,182.95
B3 0.00 0.00 4,874.75 0.00 1,061,912.20
B4 0.00 0.00 4,335.13 0.00 944,360.99
B5 0.00 0.00 2,707.19 0.00 589,731.71
B6 0.00 0.00 4,338.09 0.00 945,006.62
Totals 0.00 0.00 1,040,682.98 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1-CB-3 1,456,000.00 5.50000% 901.50912775 4.13191621 0.00000000 0.00000000
1-CB-1 180,500,000.00 4.53750% 901.50912465 3.40883136 0.00000000 0.00000000
1-CB-2 0.00 0.96250% 901.50912465 0.72308543 0.00000000 0.00000000
1-CB-4 2,169,000.00 5.50000% 901.50912402 4.13191793 0.00000000 0.00000000
1-CB-R 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-LR 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 42,893,000.00 5.50000% 920.66581144 4.21971837 0.00000000 0.00000000
A-IO 0.00 5.50000% 894.51032035 4.09983868 0.00000000 0.00000000
A-PO 1,905,663.00 0.00000% 918.24763350 0.00000000 0.00000000 0.00000000
B1 4,660,000.00 5.50000% 989.37854721 4.53465236 0.00000000 0.00000000
B2 1,792,000.00 5.50000% 989.37854911 4.53465402 0.00000000 0.00000000
B3 1,075,000.00 5.50000% 989.37854884 4.53465116 0.00000000 0.00000000
B4 956,000.00 5.50000% 989.37854603 4.53465481 0.00000000 0.00000000
B5 597,000.00 5.50000% 989.37854271 4.53465662 0.00000000 0.00000000
B6 956,653.00 5.50000% 989.37914793 4.53465363 0.00000000 0.00000000
<FN>
(5) All classes are per $1,000 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1-CB-3 0.00000000 0.00000000 4.13191621 0.00000000 889.42406593
1-CB-1 0.00000000 0.00000000 3.40883136 0.00000000 889.42406604
1-CB-2 0.00000000 0.00000000 0.72308543 0.00000000 889.42406604
1-CB-4 0.00000000 0.00000000 4.13191793 0.00000000 889.42406639
1-CB-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 0.00000000 0.00000000 4.21971837 0.00000000 906.62452638
A-IO 0.00000000 0.00000000 4.09983868 0.00000000 880.93590236
A-PO 0.00000000 0.00000000 0.00000000 0.00000000 909.48207002
B1 0.00000000 0.00000000 4.53465236 0.00000000 987.82530687
B2 0.00000000 0.00000000 4.53465402 0.00000000 987.82530692
B3 0.00000000 0.00000000 4.53465116 0.00000000 987.82530233
B4 0.00000000 0.00000000 4.53465481 0.00000000 987.82530335
B5 0.00000000 0.00000000 4.53465662 0.00000000 987.82530988
B6 0.00000000 0.00000000 4.53465363 0.00000000 987.82590971
<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 Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
<s> <c> <c> <c> <c> <c> <c>
1-A-IO 5.50000% 11,267,735.93 11,111,218.99 0.00 0.00 88.07609474%
2-A-IO 5.50000% 379,831.44 359,593.63 0.00 0.00 88.63763683%
1-A-PO 0.00000% 0.00 0.00 371,727.79 370,789.30 92.05158314%
2-A-PO 0.00000% 0.00 0.00 1,378,142.75 1,362,377.04 90.65247326%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 7,471,611.43
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
Total Deposits 7,471,611.43
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 47,141.90
Payment of Interest and Principal 7,424,469.53
Total Withdrawals (Pool Distribution Amount) 7,471,611.43
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 45,241.75
Wells Fargo Bank, N.A. 1,900.15
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 47,141.90
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
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 7 0 0 0 7
795,980.07 0.00 0.00 0.00 795,980.07
60 Days 1 0 0 0 1
226,684.94 0.00 0.00 0.00 226,684.94
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 1 1 1 0 3
223,221.52 87,325.34 17,439.18 0.00 327,986.04
Totals 9 1 1 0 11
1,245,886.53 87,325.34 17,439.18 0.00 1,350,651.05
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.448430% 0.000000% 0.000000% 0.000000% 0.448430%
0.370940% 0.000000% 0.000000% 0.000000% 0.370940%
60 Days 0.064061% 0.000000% 0.000000% 0.000000% 0.064061%
0.105639% 0.000000% 0.000000% 0.000000% 0.105639%
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 0.064061% 0.064061% 0.064061% 0.000000% 0.192184%
0.104025% 0.040695% 0.008127% 0.000000% 0.152847%
Totals 0.576553% 0.064061% 0.064061% 0.000000% 0.704676%
0.580604% 0.040695% 0.008127% 0.000000% 0.629427%
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 7 0 0 0 7
795,980.07 0.00 0.00 0.00 795,980.07
60 Days 1 0 0 0 1
226,684.94 0.00 0.00 0.00 226,684.94
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 1 0 0 1
0.00 87,325.34 0.00 0.00 87,325.34
Totals 8 1 0 0 9
1,022,665.01 87,325.34 0.00 0.00 1,109,990.35
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.570497% 0.000000% 0.000000% 0.000000% 0.570497%
0.461955% 0.000000% 0.000000% 0.000000% 0.461955%
60 Days 0.081500% 0.000000% 0.000000% 0.000000% 0.081500%
0.131559% 0.000000% 0.000000% 0.000000% 0.131559%
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% 0.081500% 0.000000% 0.000000% 0.081500%
0.000000% 0.050680% 0.000000% 0.000000% 0.050680%
Totals 0.651997% 0.081500% 0.000000% 0.000000% 0.733496%
0.593514% 0.050680% 0.000000% 0.000000% 0.644194%
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 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 1 0 1 0 2
223,221.52 0.00 17,439.18 0.00 240,660.70
Totals 1 0 1 0 2
223,221.52 0.00 17,439.18 0.00 240,660.70
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 0.299401% 0.000000% 0.299401% 0.000000% 0.598802%
0.527990% 0.000000% 0.041249% 0.000000% 0.569239%
Totals 0.299401% 0.000000% 0.299401% 0.000000% 0.598802%
0.527990% 0.000000% 0.041249% 0.000000% 0.569239%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 8,570.40
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 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-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 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-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 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
REO Loan Detail - All Mortgage Loans in REO during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number REO Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No REO loans this period.
REO Loan Detail - All Mortgage Loans in REO during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No REO loans this period.
Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period
Summary 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 1 May-05 0.000%
Original Principal Balance 17,500.00 Jun-05 0.000%
Current Principal Balance 17,439.18 Jul-05 0.000%
Aug-05 0.047%
Sep-05 0.047%
Oct-05 0.048%
Nov-05 0.008%
*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 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.048%
Sep-05 0.049%
Oct-05 0.050%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
2 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 1 May-05 0.000%
Original Principal Balance 17,500.00 Jun-05 0.000%
Current Principal Balance 17,439.18 Jul-05 0.000%
Aug-05 0.040%
Sep-05 0.040%
Oct-05 0.041%
Nov-05 0.041%
*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 6209709820 Aug-2005 01-Apr-2005 NY 70.00 17,500.00
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 6209709820 17,439.18 01-Apr-2005 6 5.875% 648.19
COLLATERAL STATEMENT
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 6.011177%
Weighted Average Pass-Through Rate 5.750677%
Weighted Average Maturity(Stepdown Calculation) 317
Beginning Scheduled Collateral Loan Count 1,579
Number Of Loans Paid In Full 18
Ending Scheduled Collateral Loan Count 1,561
Beginning Scheduled Collateral Balance 217,160,406.51
Ending Scheduled Collateral Balance 214,300,678.69
Ending Actual Collateral Balance at 31-Oct-2005 214,584,390.02
Monthly P&I Constant 1,432,458.81
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Non-PO Optimal Amount 3,805,900.30
Class AP Deferred Amount 0.00
Scheduled Principal 344,634.05
Unscheduled Principal 2,515,093.77
Miscellaneous Reporting
Senior % 94.621525%
Subordinate % 5.378475%
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15 & 30 Year Fixed 15 & 30 Year Mixed Fixed
Weighted Average Coupon Rate 6.104134 5.632103 6.011177
Weighted Average Net Rate 5.854134 5.382103 5.761177
Weighted Average Maturity 352 172 317
Beginning Loan Count 1,241 338 1,579
Loans Paid In Full 14 4 18
Ending Loan Count 1,227 334 1,561
Beginning Scheduled Balance 174,395,296.54 42,765,109.97 217,160,406.51
Ending Scheduled Balance 172,160,857.77 42,139,820.92 214,300,678.69
Record Date 10/31/2005 10/31/2005 10/31/2005
Principal And Interest Constant 1,068,180.73 364,278.08 1,432,458.81
Scheduled Principal 181,070.57 163,563.48 344,634.05
Unscheduled Principal 2,053,368.20 461,725.57 2,515,093.77
Scheduled Interest 887,110.16 200,714.60 1,087,824.76
Servicing Fees 36,332.35 8,909.40 45,241.75
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,525.96 374.19 1,900.15
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 849,251.85 191,431.01 1,040,682.86
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 5.843634 5.371603 5.750677
Miscellaneous Reporting
Group 1
CPR 13.261956%
Subordinate % 4.616156%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.383844%
Group 2
CPR 12.257935%
Subordinate % 4.583202%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.416798%
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 14 2,040,494.00 2,025,188.83 0 0.00 0.00
2 4 440,605.00 429,262.02 0 0.00 0.00
Total 18 2,481,099.00 2,454,450.85 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 30,234.15
2 0 0.00 0.00 0 0.00 0.00 34,052.03
Total 0 0.00 0.00 0 0.00 0.00 64,286.18
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 3301462267 FL 80.00 01-Mar-2005 60,000.00 59,438.47
1 6157255453 VA 80.00 01-Apr-2005 156,476.00 155,177.60
1 6188811225 FL 68.85 01-Mar-2005 126,000.00 124,875.05
1 6353672360 MO 80.00 01-Mar-2005 56,000.00 55,499.95
1 6388486893 WI 62.87 01-Mar-2005 141,477.00 140,272.24
1 6473936042 TX 67.64 01-Apr-2005 115,000.00 114,110.95
1 6487951151 AR 80.00 01-Mar-2005 103,920.00 102,915.72
1 6528331447 FL 90.00 01-Apr-2005 135,000.00 133,879.80
1 6615537898 AZ 79.99 01-Apr-2005 123,731.00 122,728.10
1 6806234503 CA 74.46 01-Mar-2005 350,000.00 347,014.21
1 6870270268 GA 97.00 01-Mar-2005 152,290.00 150,831.20
1 6890590661 DC 57.14 01-Mar-2005 200,000.00 198,214.00
1 6904280317 NC 29.34 01-Mar-2005 44,600.00 44,211.10
1 6953450407 KS 89.03 01-Apr-2005 276,000.00 273,965.66
2 3301369009 FL 60.94 01-Mar-2005 123,105.00 119,097.40
2 3301416172 NV 60.60 01-Apr-2005 100,000.00 97,171.59
2 6075328689 CA 78.94 01-Apr-2005 150,000.00 145,625.27
2 6791602193 VT 90.00 01-Apr-2005 67,500.00 65,779.28
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 3301462267 Loan Paid in Full 0 5.875% 360 8
1 6157255453 Loan Paid in Full 0 5.875% 360 7
1 6188811225 Loan Paid in Full 0 6.125% 360 8
1 6353672360 Loan Paid in Full 0 6.125% 360 8
1 6388486893 Loan Paid in Full 0 6.375% 360 8
1 6473936042 Loan Paid in Full 0 6.250% 360 7
1 6487951151 Loan Paid in Full 0 5.750% 360 8
1 6528331447 Loan Paid in Full 0 5.875% 360 7
1 6615537898 Loan Paid in Full 0 6.000% 360 7
1 6806234503 Loan Paid in Full 0 6.375% 360 8
1 6870270268 Loan Paid in Full 0 5.750% 360 8
1 6890590661 Loan Paid in Full 0 6.125% 360 8
1 6904280317 Loan Paid in Full 0 6.250% 360 8
1 6953450407 Loan Paid in Full 0 6.500% 360 7
2 3301369009 Loan Paid in Full 0 5.625% 180 8
2 3301416172 Loan Paid in Full 0 5.875% 180 7
2 6075328689 Loan Paid in Full 0 5.500% 180 7
2 6791602193 Loan Paid in Full (1) 7.125% 180 7
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.160% Current Month 13.066% Current Month 864.111%
3 Month Average 1.296% 3 Month Average 14.481% 3 Month Average 1,124.366%
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>
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 8.249% N/A Apr-2005 7,207.437% N/A
May-2005 3.899% N/A May-2005 1,240.774% N/A
Jun-2005 15.101% N/A Jun-2005 2,936.809% N/A
Jul-2005 14.314% N/A Jul-2005 2,004.958% N/A
Aug-2005 21.792% N/A Aug-2005 2,385.664% N/A
Sep-2005 14.185% N/A Sep-2005 1,274.881% N/A
Oct-2005 16.192% N/A Oct-2005 1,234.107% N/A
Nov-2005 13.066% N/A Nov-2005 864.111% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.179% Current Month 13.262% Current Month 877.814%
3 Month Average 1.380% 3 Month Average 15.336% 3 Month Average 1,193.252%
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>
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 6.356% N/A Apr-2005 5,609.661% N/A
May-2005 4.676% N/A May-2005 1,493.586% N/A
Jun-2005 17.114% N/A Jun-2005 3,335.372% N/A
Jul-2005 15.617% N/A Jul-2005 2,190.676% N/A
Aug-2005 24.339% N/A Aug-2005 2,667.705% N/A
Sep-2005 14.905% N/A Sep-2005 1,340.906% N/A
Oct-2005 17.842% N/A Oct-2005 1,361.037% N/A
Nov-2005 13.262% N/A Nov-2005 877.814% 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 1.084% Current Month 12.258% Current Month 808.028%
3 Month Average 0.952% 3 Month Average 10.833% 3 Month Average 832.291%
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>
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 15.763% N/A Apr-2005 13,221.490% N/A
May-2005 0.560% N/A May-2005 175.559% N/A
Jun-2005 6.122% N/A Jun-2005 1,180.142% N/A
Jul-2005 8.664% N/A Jul-2005 1,206.387% N/A
Aug-2005 10.318% N/A Aug-2005 1,124.129% N/A
Sep-2005 11.162% N/A Sep-2005 999.177% N/A
Oct-2005 9.079% N/A Oct-2005 689.667% N/A
Nov-2005 12.258% N/A Nov-2005 808.028% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
1 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-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>
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 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-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>
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 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-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>
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 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-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>
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 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-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>
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 0.000% N/A Apr-2005 0.000% N/A
May-2005 0.000% N/A May-2005 0.000% N/A
Jun-2005 0.000% N/A Jun-2005 0.000% N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-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>