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 MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2005-A Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-10
Pooling and Servicing Agreement) (Commission 54-2165626
(State or other File Number) 54-2165627
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 November 25, 2005 a distribution was made to holders of BANC OF AMERICA
MORTGAGE SECURITIES, INC., Mortgage Pass-Through Certificates, Series 2005-A
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-A 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 MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2005-A 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-A Trust,
relating to the November 25, 2005 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 10/31/2005
Distribution Date: 11/25/2005
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Series 2005-A
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
1A1 05949AH52 SEN 4.06014% 81,448,665.67 275,577.37
1AR 05949AH60 SEN 4.06127% 0.00 0.00
1ALR 05949AH78 SEN 4.06127% 0.00 0.00
2A1 05949AH86 SEN 4.46793% 217,738,717.17 810,700.52
2A2 05949AH94 SEN 4.46793% 127,504,980.07 474,735.75
2A3 05949AJ27 SEN 4.46793% 4,487,994.44 16,710.03
3A1 05949AJ35 SEN 5.05614% 36,060,701.20 151,939.90
4A1 05949AJ43 SEN 5.22620% 40,248,566.21 175,289.25
1IO 05949AJ84 SEN 0.31700% 0.00 22,433.00
2IO 05949AJ92 SEN 0.17100% 0.00 51,767.61
4IO 05949AK25 SEN 0.03230% 0.00 1,124.47
B1 05949AJ50 SUB 4.49482% 10,533,642.28 39,455.72
B2 05949AJ68 SUB 4.49482% 3,803,179.36 14,245.52
B3 05949AJ76 SUB 4.49482% 2,047,406.42 7,668.94
B4 05949AK33 SUB 4.49482% 1,463,144.11 5,480.48
B5 05949AK41 SUB 4.49482% 877,886.47 3,288.29
B6 05949AK58 SUB 4.49482% 1,170,421.72 4,384.03
Totals 527,385,305.12 2,054,800.88
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1A1 2,936,792.69 0.00 78,511,872.98 3,212,370.06 0.00
1AR 0.00 0.00 0.00 0.00 0.00
1ALR 0.00 0.00 0.00 0.00 0.00
2A1 2,164,165.33 0.00 215,574,551.85 2,974,865.85 0.00
2A2 1,267,307.26 0.00 126,237,672.81 1,742,043.01 0.00
2A3 44,607.42 0.00 4,443,387.02 61,317.45 0.00
3A1 21,396.22 0.00 36,039,304.98 173,336.12 0.00
4A1 392,813.42 0.00 39,855,752.79 568,102.67 0.00
1IO 0.00 0.00 0.00 22,433.00 0.00
2IO 0.00 0.00 0.00 51,767.61 0.00
4IO 0.00 0.00 0.00 1,124.47 0.00
B1 5,606.79 0.00 10,528,035.48 45,062.51 0.00
B2 2,024.34 0.00 3,801,155.02 16,269.86 0.00
B3 1,089.78 0.00 2,046,316.64 8,758.72 0.00
B4 778.79 0.00 1,462,365.32 6,259.27 0.00
B5 467.28 0.00 877,419.19 3,755.57 0.00
B6 622.99 0.00 1,169,798.73 5,007.02 0.00
Totals 6,837,672.31 0.00 520,547,632.81 8,892,473.19 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
This report has been compiled from information provided to Wells Fargo Bank, N.A. by various
third parties, which may include the Servicer, Master Servicer, Special Servicer and others.
Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received
from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly
disclaims any responsibility for the accuracy or completeness of information furnished by
third parties.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
1A1 99,118,000.00 81,448,665.67 47,308.47 2,889,484.22 0.00 0.00
1AR 50.00 0.00 0.00 0.00 0.00 0.00
1ALR 50.00 0.00 0.00 0.00 0.00 0.00
2A1 240,784,000.00 217,738,717.17 115,224.42 2,048,940.91 0.00 0.00
2A2 141,000,000.00 127,504,980.07 67,473.93 1,199,833.33 0.00 0.00
2A3 4,963,000.00 4,487,994.44 2,374.99 42,232.43 0.00 0.00
3A1 38,460,000.00 36,060,701.20 19,718.12 1,678.10 0.00 0.00
4A1 43,554,000.00 40,248,566.21 17,567.79 375,245.63 0.00 0.00
1IO 0.00 0.00 0.00 0.00 0.00 0.00
2IO 0.00 0.00 0.00 0.00 0.00 0.00
4IO 0.00 0.00 0.00 0.00 0.00 0.00
B1 10,583,000.00 10,533,642.28 5,606.79 0.00 0.00 0.00
B2 3,821,000.00 3,803,179.36 2,024.34 0.00 0.00 0.00
B3 2,057,000.00 2,047,406.42 1,089.78 0.00 0.00 0.00
B4 1,470,000.00 1,463,144.11 778.79 0.00 0.00 0.00
B5 882,000.00 877,886.47 467.28 0.00 0.00 0.00
B6 1,175,905.98 1,170,421.72 622.99 0.00 0.00 0.00
Totals 587,868,005.98 527,385,305.12 280,257.69 6,557,414.62 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
1A1 2,936,792.69 78,511,872.98 0.79210510 2,936,792.69
1AR 0.00 0.00 0.00000000 0.00
1ALR 0.00 0.00 0.00000000 0.00
2A1 2,164,165.33 215,574,551.85 0.89530264 2,164,165.33
2A2 1,267,307.26 126,237,672.81 0.89530264 1,267,307.26
2A3 44,607.42 4,443,387.02 0.89530264 44,607.42
3A1 21,396.22 36,039,304.98 0.93705941 21,396.22
4A1 392,813.42 39,855,752.79 0.91508823 392,813.42
1IO 0.00 0.00 0.00000000 0.00
2IO 0.00 0.00 0.00000000 0.00
4IO 0.00 0.00 0.00000000 0.00
B1 5,606.79 10,528,035.48 0.99480634 5,606.79
B2 2,024.34 3,801,155.02 0.99480634 2,024.34
B3 1,089.78 2,046,316.64 0.99480634 1,089.78
B4 778.79 1,462,365.32 0.99480634 778.79
B5 467.28 877,419.19 0.99480634 467.28
B6 622.99 1,169,798.73 0.99480634 622.99
Totals 6,837,672.31 520,547,632.81 0.88548386 6,837,672.31
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
1A1 99,118,000.00 821.73435370 0.47729444 29.15196251 0.00000000
1AR 50.00 0.00000000 0.00000000 0.00000000 0.00000000
1ALR 50.00 0.00000000 0.00000000 0.00000000 0.00000000
2A1 240,784,000.00 904.29063879 0.47853852 8.50945623 0.00000000
2A2 141,000,000.00 904.29063879 0.47853851 8.50945624 0.00000000
2A3 4,963,000.00 904.29063873 0.47853919 8.50945597 0.00000000
3A1 38,460,000.00 937.61573583 0.51269163 0.04363235 0.00000000
4A1 43,554,000.00 924.10722804 0.40335652 8.61564104 0.00000000
1IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
2IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
4IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B1 10,583,000.00 995.33613153 0.52979212 0.00000000 0.00000000
B2 3,821,000.00 995.33613190 0.52979325 0.00000000 0.00000000
B3 2,057,000.00 995.33613029 0.52979096 0.00000000 0.00000000
B4 1,470,000.00 995.33612925 0.52978912 0.00000000 0.00000000
B5 882,000.00 995.33613379 0.52979592 0.00000000 0.00000000
B6 1,175,905.98 995.33614073 0.52979576 0.00000000 0.00000000
<FN>
(2) All Classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
1A1 0.00000000 29.62925695 792.10509675 0.79210510 29.62925695
1AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1ALR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2A1 0.00000000 8.98799476 895.30264407 0.89530264 8.98799476
2A2 0.00000000 8.98799475 895.30264404 0.89530264 8.98799475
2A3 0.00000000 8.98799516 895.30264356 0.89530264 8.98799516
3A1 0.00000000 0.55632397 937.05941186 0.93705941 0.55632397
4A1 0.00000000 9.01899757 915.08823047 0.91508823 9.01899757
1IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
4IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B1 0.00000000 0.52979212 994.80633847 0.99480634 0.52979212
B2 0.00000000 0.52979325 994.80633865 0.99480634 0.52979325
B3 0.00000000 0.52979096 994.80633933 0.99480634 0.52979096
B4 0.00000000 0.52978912 994.80634014 0.99480634 0.52978912
B5 0.00000000 0.52979592 994.80633787 0.99480634 0.52979592
B6 0.00000000 0.52979576 994.80634498 0.99480634 0.52979576
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1A1 99,118,000.00 4.06014% 81,448,665.67 275,577.37 0.00 0.00
1AR 50.00 4.06127% 0.00 0.00 0.00 0.00
1ALR 50.00 4.06127% 0.00 0.00 0.00 0.00
2A1 240,784,000.00 4.46793% 217,738,717.17 810,700.52 0.00 0.00
2A2 141,000,000.00 4.46793% 127,504,980.07 474,735.75 0.00 0.00
2A3 4,963,000.00 4.46793% 4,487,994.44 16,710.03 0.00 0.00
3A1 38,460,000.00 5.05614% 36,060,701.20 151,939.90 0.00 0.00
4A1 43,554,000.00 5.22620% 40,248,566.21 175,289.25 0.00 0.00
1IO 0.00 0.31700% 84,919,871.21 22,433.00 0.00 0.00
2IO 0.00 0.17100% 363,281,478.83 51,767.61 0.00 0.00
4IO 0.00 0.03230% 41,775,837.30 1,124.47 0.00 0.00
B1 10,583,000.00 4.49482% 10,533,642.28 39,455.72 0.00 0.00
B2 3,821,000.00 4.49482% 3,803,179.36 14,245.52 0.00 0.00
B3 2,057,000.00 4.49482% 2,047,406.42 7,668.94 0.00 0.00
B4 1,470,000.00 4.49482% 1,463,144.11 5,480.48 0.00 0.00
B5 882,000.00 4.49482% 877,886.47 3,288.29 0.00 0.00
B6 1,175,905.98 4.49482% 1,170,421.72 4,384.03 0.00 0.00
Totals 587,868,005.98 2,054,800.88 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1A1 0.00 0.00 275,577.37 0.00 78,511,872.98
1AR 0.00 0.00 0.00 0.00 0.00
1ALR 0.00 0.00 0.00 0.00 0.00
2A1 0.00 0.00 810,700.52 0.00 215,574,551.85
2A2 0.00 0.00 474,735.75 0.00 126,237,672.81
2A3 0.00 0.00 16,710.03 0.00 4,443,387.02
3A1 0.00 0.00 151,939.90 0.00 36,039,304.98
4A1 0.00 0.00 175,289.25 0.00 39,855,752.79
1IO 0.00 0.00 22,433.00 0.00 81,981,062.31
2IO 0.00 0.00 51,767.61 0.00 359,798,228.46
4IO 0.00 0.00 1,124.47 0.00 41,382,357.25
B1 0.00 0.00 39,455.72 0.00 10,528,035.48
B2 0.00 0.00 14,245.52 0.00 3,801,155.02
B3 0.00 0.00 7,668.94 0.00 2,046,316.64
B4 0.00 0.00 5,480.48 0.00 1,462,365.32
B5 0.00 0.00 3,288.29 0.00 877,419.19
B6 0.00 0.00 4,384.03 0.00 1,169,798.73
Totals 0.00 0.00 2,054,800.88 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1A1 99,118,000.00 4.06014% 821.73435370 2.78029591 0.00000000 0.00000000
1AR 50.00 4.06127% 0.00000000 0.00000000 0.00000000 0.00000000
1ALR 50.00 4.06127% 0.00000000 0.00000000 0.00000000 0.00000000
2A1 240,784,000.00 4.46793% 904.29063879 3.36692023 0.00000000 0.00000000
2A2 141,000,000.00 4.46793% 904.29063879 3.36692021 0.00000000 0.00000000
2A3 4,963,000.00 4.46793% 904.29063873 3.36692122 0.00000000 0.00000000
3A1 38,460,000.00 5.05614% 937.61573583 3.95059542 0.00000000 0.00000000
4A1 43,554,000.00 5.22620% 924.10722804 4.02464182 0.00000000 0.00000000
1IO 0.00 0.31700% 827.62412175 0.21863071 0.00000000 0.00000000
2IO 0.00 0.17100% 907.38691945 0.12930263 0.00000000 0.00000000
4IO 0.00 0.03230% 926.55885425 0.02493996 0.00000000 0.00000000
B1 10,583,000.00 4.49482% 995.33613153 3.72821695 0.00000000 0.00000000
B2 3,821,000.00 4.49482% 995.33613190 3.72821774 0.00000000 0.00000000
B3 2,057,000.00 4.49482% 995.33613029 3.72821585 0.00000000 0.00000000
B4 1,470,000.00 4.49482% 995.33612925 3.72821769 0.00000000 0.00000000
B5 882,000.00 4.49482% 995.33613379 3.72821995 0.00000000 0.00000000
B6 1,175,905.98 4.49482% 995.33614073 3.72821473 0.00000000 0.00000000
<FN>
(5) All Classes are per $1,000 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1A1 0.00000000 0.00000000 2.78029591 0.00000000 792.10509675
1AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1ALR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2A1 0.00000000 0.00000000 3.36692023 0.00000000 895.30264407
2A2 0.00000000 0.00000000 3.36692021 0.00000000 895.30264404
2A3 0.00000000 0.00000000 3.36692122 0.00000000 895.30264356
3A1 0.00000000 0.00000000 3.95059542 0.00000000 937.05941186
4A1 0.00000000 0.00000000 4.02464182 0.00000000 915.08823047
1IO 0.00000000 0.00000000 0.21863071 0.00000000 798.98266127
2IO 0.00000000 0.00000000 0.12930263 0.00000000 898.68662503
4IO 0.00000000 0.00000000 0.02493996 0.00000000 917.83174193
B1 0.00000000 0.00000000 3.72821695 0.00000000 994.80633847
B2 0.00000000 0.00000000 3.72821774 0.00000000 994.80633865
B3 0.00000000 0.00000000 3.72821585 0.00000000 994.80633933
B4 0.00000000 0.00000000 3.72821769 0.00000000 994.80634014
B5 0.00000000 0.00000000 3.72821995 0.00000000 994.80633787
B6 0.00000000 0.00000000 3.72821473 0.00000000 994.80634498
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 9,013,168.65
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 9,013,168.65
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 120,695.46
Payment of Interest and Principal 8,892,473.19
Total Withdrawals (Pool Distribution Amount) 9,013,168.65
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 118,717.76
Trustee Fee - Wells Fargo Bank, N.A. 1,977.70
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 120,695.46
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 6 0 0 0 6
3,213,671.13 0.00 0.00 0.00 3,213,671.13
60 Days 2 0 0 0 2
1,445,127.21 0.00 0.00 0.00 1,445,127.21
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 8 0 0 0 8
4,658,798.34 0.00 0.00 0.00 4,658,798.34
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 0.608519% 0.000000% 0.000000% 0.000000% 0.608519%
0.617093% 0.000000% 0.000000% 0.000000% 0.617093%
60 Days 0.202840% 0.000000% 0.000000% 0.000000% 0.202840%
0.277495% 0.000000% 0.000000% 0.000000% 0.277495%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.811359% 0.000000% 0.000000% 0.000000% 0.811359%
0.894588% 0.000000% 0.000000% 0.000000% 0.894588%
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 1 0 0 0 1
405,000.00 0.00 0.00 0.00 405,000.00
60 Days 1 0 0 0 1
445,143.88 0.00 0.00 0.00 445,143.88
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 2 0 0 0 2
850,143.88 0.00 0.00 0.00 850,143.88
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.649351% 0.000000% 0.000000% 0.000000% 0.649351%
0.493771% 0.000000% 0.000000% 0.000000% 0.493771%
60 Days 0.649351% 0.000000% 0.000000% 0.000000% 0.649351%
0.542713% 0.000000% 0.000000% 0.000000% 0.542713%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 1.298701% 0.000000% 0.000000% 0.000000% 1.298701%
1.036484% 0.000000% 0.000000% 0.000000% 1.036484%
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 5 0 0 0 5
2,808,671.13 0.00 0.00 0.00 2,808,671.13
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 5 0 0 0 5
2,808,671.13 0.00 0.00 0.00 2,808,671.13
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.730994% 0.000000% 0.000000% 0.000000% 0.730994%
0.780279% 0.000000% 0.000000% 0.000000% 0.780279%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.730994% 0.000000% 0.000000% 0.000000% 0.730994%
0.780279% 0.000000% 0.000000% 0.000000% 0.780279%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
3 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
4 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 1 0 0 0 1
999,983.33 0.00 0.00 0.00 999,983.33
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 1 0 0 0 1
999,983.33 0.00 0.00 0.00 999,983.33
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 1.282051% 0.000000% 0.000000% 0.000000% 1.282051%
2.415679% 0.000000% 0.000000% 0.000000% 2.415679%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 1.282051% 0.000000% 0.000000% 0.000000% 1.282051%
2.415679% 0.000000% 0.000000% 0.000000% 2.415679%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 19,741.02
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.
3 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.
4 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 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 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 0.000%
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 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 0.000%
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.
3 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 0.000%
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.
4 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 0.000%
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.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 4.950072%
Weighted Average Net Coupon 4.679945%
Weighted Average Pass-Through Rate 4.675445%
Weighted Average Maturity(Stepdown Calculation) 349
Beginning Scheduled Collateral Loan Count 1,000
Number Of Loans Paid In Full 14
Ending Scheduled Collateral Loan Count 986
Beginning Scheduled Collateral Balance 527,385,305.12
Ending Scheduled Collateral Balance 520,547,632.81
Ending Actual Collateral Balance at 31-Oct-2005 520,776,124.96
Monthly P&I Constant 2,455,753.86
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 280,257.69
Unscheduled Principal 6,557,414.62
Miscellaneous Reporting
Total Senior Percentage 96.227487%
Total Subordinate Percentage 3.772513%
Group Level Collateral Statement
Group 1 2 3
Collateral Description 3 Year LIBOR Arm 5 Year LIBOR Arm 7 Year LIBOR Arm
Weighted Average Coupon Rate 4.756637 4.893427 5.310638
Weighted Average Net Rate 4.381637 4.643427 5.060638
Weighted Average Maturity 349 348 349
Beginning Loan Count 160 691 70
Loans Paid In Full 6 7 0
Ending Loan Count 154 684 70
Beginning Scheduled Balance 84,919,871.21 363,281,478.83 37,408,117.78
Ending Scheduled Balance 81,981,062.31 359,798,228.46 37,385,984.79
Record Date 10/31/2005 10/31/2005 10/31/2005
Principal And Interest Constant 385,935.50 1,673,653.06 186,005.69
Scheduled Principal 49,324.68 192,243.70 20,454.89
Unscheduled Principal 2,889,484.22 3,291,006.67 1,678.10
Scheduled Interest 336,610.82 1,481,409.36 165,550.80
Servicing Fees 26,537.46 75,683.64 7,793.36
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 318.45 1,362.31 140.28
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 309,754.91 1,404,363.41 157,617.16
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 4.377137 4.638927 5.056138
Group Level Collateral Statement
Group 4 Total
Collateral Description 7 Year LIBOR Arm Mixed ARM
Weighted Average Coupon Rate 5.513001 4.950072
Weighted Average Net Rate 5.263001 4.679945
Weighted Average Maturity 349 349
Beginning Loan Count 79 1,000
Loans Paid In Full 1 14
Ending Loan Count 78 986
Beginning Scheduled Balance 41,775,837.30 527,385,305.12
Ending scheduled Balance 41,382,357.25 520,547,632.81
Record Date 10/31/2005 10/31/2005
Principal And Interest Constant 210,159.61 2,455,753.86
Scheduled Principal 18,234.42 280,257.69
Unscheduled Principal 375,245.63 6,557,414.62
Scheduled Interest 191,925.19 2,175,496.17
Servicing Fees 8,703.30 118,717.76
Master Servicing Fees 0.00 0.00
Trustee Fee 156.66 1,977.70
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 0.00 0.00
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 0.00
Spread 2 0.00 0.00
Spread 3 0.00 0.00
Net Interest 183,065.23 2,054,800.71
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 5.258501 4.675445
Miscellaneous Reporting
Group 1
CPR 34.009942%
Subordinate Percentage 4.087624%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 95.912376%
Group 2
CPR 10.350521%
Subordinate Percentage 3.729831%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.270169%
Group 3
CPR 0.053847%
Subordinate Percentage 3.601936%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.398064%
Miscellaneous Reporting
Group 4
CPR 10.266214%
Subordinate Percentage 3.655871%
Subordinate Prepayment Percentage 0.000000%
Senior Prepayment Percentage 100.000000%
Senior Percentage 96.344129%
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 6 2,885,490.00 2,879,907.75 0 0.00 0.00
2 7 3,224,497.00 3,208,166.33 0 0.00 0.00
3 0 0.00 0.00 0 0.00 0.00
4 1 370,000.00 369,999.32 0 0.00 0.00
Total 14 6,479,987.00 6,458,073.40 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 10,070.47
2 0 0.00 0.00 0 0.00 0.00 83,892.20
3 0 0.00 0.00 0 0.00 0.00 1,678.10
4 0 0.00 0.00 0 0.00 0.00 5,246.31
Total 0 0.00 0.00 0 0.00 0.00 100,887.08
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 6006747148 NC 39.58 01-Jan-2005 475,000.00 475,000.00
1 6231053635 CA 88.88 01-Dec-2004 360,000.00 354,192.34
1 6326620421 FL 90.00 01-Feb-2005 396,000.00 396,000.00
1 6390851464 NV 79.99 01-Jan-2005 519,990.00 519,990.00
1 6499315502 CA 75.36 01-Jan-2005 674,500.00 674,231.41
1 6910432811 CA 66.66 01-Jan-2005 460,000.00 460,000.00
2 6175566683 CA 80.00 01-Feb-2005 372,000.00 367,784.53
2 6198664895 CA 70.00 01-Jan-2005 374,500.00 374,427.55
2 6323882545 MD 44.28 01-Feb-2005 496,000.00 496,000.00
2 6436934332 CA 56.28 01-Feb-2005 439,000.00 438,048.16
2 6693017151 CA 67.90 01-Feb-2005 550,000.00 543,854.23
2 6710828309 CA 79.90 01-Feb-2005 396,997.00 391,000.00
2 6977572624 CA 80.00 01-Feb-2005 596,000.00 596,000.00
4 6551515361 MD 66.66 01-Jan-2005 370,000.00 369,999.32
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 6006747148 Loan Paid in Full 0 4.000% 360 10
1 6231053635 Loan Paid in Full (1) 4.500% 360 11
1 6326620421 Loan Paid in Full 0 5.250% 360 9
1 6390851464 Loan Paid in Full 0 4.750% 360 10
1 6499315502 Loan Paid in Full 0 4.750% 360 10
1 6910432811 Loan Paid in Full 0 5.125% 360 10
2 6175566683 Loan Paid in Full 0 5.500% 360 9
2 6198664895 Loan Paid in Full 0 4.625% 360 10
2 6323882545 Loan Paid in Full 0 4.625% 360 9
2 6436934332 Loan Paid in Full 0 5.625% 360 9
2 6693017151 Loan Paid in Full 0 5.500% 360 9
2 6710828309 Loan Paid in Full 0 5.375% 360 9
2 6977572624 Loan Paid in Full 0 5.125% 360 9
4 6551515361 Loan Paid in Full 0 5.875% 360 10
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.244% Current Month 13.948% Current Month 732.908%
3 Month Average 1.233% 3 Month Average 13.753% 3 Month Average 826.972%
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 5.553% N/A Feb-2005 5,450.015% N/A
Mar-2005 6.072% N/A Mar-2005 2,021.908% N/A
Apr-2005 12.449% N/A Apr-2005 2,473.211% N/A
May-2005 17.118% N/A May-2005 2,432.888% N/A
Jun-2005 10.480% N/A Jun-2005 1,159.876% N/A
Jul-2005 14.266% N/A Jul-2005 1,292.281% N/A
Aug-2005 21.718% N/A Aug-2005 1,665.671% N/A
Sep-2005 18.531% N/A Sep-2005 1,232.559% N/A
Oct-2005 8.779% N/A Oct-2005 515.450% N/A
Nov-2005 13.948% N/A Nov-2005 732.908% 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 3.405% Current Month 34.010% Current Month 1,762.015%
3 Month Average 2.235% 3 Month Average 23.328% 3 Month Average 1,335.621%
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 21.440% N/A Feb-2005 16,941.494% N/A
Mar-2005 10.580% N/A Mar-2005 3,252.710% N/A
Apr-2005 14.860% N/A Apr-2005 2,807.397% N/A
May-2005 16.865% N/A May-2005 2,309.636% N/A
Jun-2005 24.428% N/A Jun-2005 2,627.018% N/A
Jul-2005 19.733% N/A Jul-2005 1,744.211% N/A
Aug-2005 45.764% N/A Aug-2005 3,432.284% N/A
Sep-2005 22.449% N/A Sep-2005 1,464.117% N/A
Oct-2005 13.526% N/A Oct-2005 780.732% N/A
Nov-2005 34.010% N/A Nov-2005 1,762.015% 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 0.906% Current Month 10.351% Current Month 546.858%
3 Month Average 1.172% 3 Month Average 13.084% 3 Month Average 803.006%
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 1.767% N/A Feb-2005 1,912.452% N/A
Mar-2005 6.042% N/A Mar-2005 2,073.906% N/A
Apr-2005 9.208% N/A Apr-2005 1,866.008% N/A
May-2005 18.890% N/A May-2005 2,724.320% N/A
Jun-2005 8.621% N/A Jun-2005 964.975% N/A
Jul-2005 10.396% N/A Jul-2005 951.085% N/A
Aug-2005 18.835% N/A Aug-2005 1,457.010% N/A
Sep-2005 19.474% N/A Sep-2005 1,305.075% N/A
Oct-2005 9.427% N/A Oct-2005 557.083% N/A
Nov-2005 10.351% N/A Nov-2005 546.858% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
3
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.004% Current Month 0.054% Current Month 2.809%
3 Month Average 0.350% 3 Month Average 3.970% 3 Month Average 261.389%
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 3.765% N/A Feb-2005 3,323.072% N/A
Mar-2005 1.168% N/A Mar-2005 375.939% N/A
Apr-2005 16.412% N/A Apr-2005 3,190.507% N/A
May-2005 17.102% N/A May-2005 2,387.888% N/A
Jun-2005 0.048% N/A Jun-2005 5.292% N/A
Jul-2005 13.481% N/A Jul-2005 1,206.239% N/A
Aug-2005 0.063% N/A Aug-2005 4.784% N/A
Sep-2005 11.806% N/A Sep-2005 778.393% N/A
Oct-2005 0.051% N/A Oct-2005 2.965% N/A
Nov-2005 0.054% N/A Nov-2005 2.809% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
4
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.899% Current Month 10.266% Current Month 532.505%
3 Month Average 0.503% 3 Month Average 5.788% 3 Month Average 331.682%
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 0.736% N/A Feb-2005 609.024% N/A
Mar-2005 0.101% N/A Mar-2005 32.086% N/A
Apr-2005 29.807% N/A Apr-2005 5,683.339% N/A
May-2005 0.161% N/A May-2005 22.252% N/A
Jun-2005 1.842% N/A Jun-2005 199.177% N/A
Jul-2005 33.764% N/A Jul-2005 2,990.665% N/A
Aug-2005 0.184% N/A Aug-2005 13.855% N/A
Sep-2005 6.869% N/A Sep-2005 449.381% N/A
Oct-2005 0.227% N/A Oct-2005 13.158% N/A
Nov-2005 10.266% N/A Nov-2005 532.505% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
1 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
3 0 0.00 0.00 0.000%
4 0 0.00 0.00 0.000%
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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% 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.
3
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% 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.
4
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% 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 0.000% N/A Feb-2005 0.000% N/A
Mar-2005 0.000% N/A Mar-2005 0.000% 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>