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 2005-1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-118843-11
Pooling and Servicing Agreement) (Commission 54-2165628
(State or other File Number) 54-2165629
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
ALTERNATIVE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2005-1
Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Mortgage Pass-Through Certificates,
Series 2005-1 Trust, relating to the
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 2005-1 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 2005-1 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 2005-1
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
1-CB-1 05949AK66 SEN 5.25000% 157,822,039.64 690,471.42
1-CB-R 05949AL32 SEN 5.50000% 0.00 0.00
1-CB-LR 05949AL40 SEN 5.50000% 0.00 0.00
1-CB-2 05949AK74 SEN 5.50000% 23,189,000.00 106,282.92
1-CB-3 05949AK82 SEN 5.50000% 0.00 32,879.59
1-CB-4 05949AK90 SEN 5.50000% 10,000,000.00 45,833.33
1-CB-5 05949AL24 SEN 5.50000% 4,639,000.00 21,262.08
CB-IO 05949AL57 SEN 5.50000% 0.00 61,166.95
2-A-1 05949AL99 SEN 5.50000% 39,049,600.41 178,977.34
30-PO 05949AL65 PO 0.00000% 248,239.83 0.00
15-IO 05949AL81 SEN 5.50000% 0.00 1,351.92
15-PO 05949AL73 PO 0.00000% 1,607,575.83 0.00
B-1 05949AM23 SUB 5.50000% 5,773,367.99 26,461.27
B-2 05949AM31 SUB 5.50000% 2,061,635.17 9,449.16
B-3 05949AM49 SUB 5.50000% 1,373,765.51 6,296.43
B-4 05949AM56 SUB 5.50000% 1,100,394.07 5,043.47
B-5 05949AM64 SUB 5.50000% 824,061.93 3,776.95
B-6 05949AM72 SUB 5.50000% 1,100,321.45 5,043.14
Totals 248,789,001.83 1,194,295.97
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-1 2,758,281.61 0.00 155,063,758.03 3,448,753.03 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
1-CB-2 0.00 0.00 23,189,000.00 106,282.92 0.00
1-CB-3 0.00 0.00 0.00 32,879.59 0.00
1-CB-4 0.00 0.00 10,000,000.00 45,833.33 0.00
1-CB-5 0.00 0.00 4,639,000.00 21,262.08 0.00
CB-IO 0.00 0.00 0.00 61,166.95 0.00
2-A-1 1,198,921.01 0.00 37,850,679.40 1,377,898.35 0.00
30-PO 300.18 0.00 247,939.64 300.18 0.00
15-IO 0.00 0.00 0.00 1,351.92 0.00
15-PO 28,405.21 0.00 1,579,170.62 28,405.21 0.00
B-1 8,771.95 0.00 5,764,596.04 35,233.22 0.00
B-2 3,132.41 0.00 2,058,502.76 12,581.57 0.00
B-3 2,087.27 0.00 1,371,678.24 8,383.70 0.00
B-4 1,671.92 0.00 1,098,722.15 6,715.39 0.00
B-5 1,252.06 0.00 822,809.86 5,029.01 0.00
B-6 1,671.27 0.00 1,098,649.64 6,714.41 0.00
Totals 4,004,494.89 0.00 244,784,506.38 5,198,790.86 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-1 183,469,000.00 157,822,039.64 205,890.34 2,552,391.27 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
1-CB-2 23,189,000.00 23,189,000.00 0.00 0.00 0.00 0.00
1-CB-3 0.00 0.00 0.00 0.00 0.00 0.00
1-CB-4 10,000,000.00 10,000,000.00 0.00 0.00 0.00 0.00
1-CB-5 4,639,000.00 4,639,000.00 0.00 0.00 0.00 0.00
CB-IO 0.00 0.00 0.00 0.00 0.00 0.00
2-A-1 42,857,000.00 39,049,600.41 152,224.98 1,046,696.03 0.00 0.00
30-PO 272,074.89 248,239.83 290.04 10.14 0.00 0.00
15-IO 0.00 0.00 0.00 0.00 0.00 0.00
15-PO 1,719,983.14 1,607,575.83 6,428.06 21,977.14 0.00 0.00
B-1 5,850,000.00 5,773,367.99 8,771.95 0.00 0.00 0.00
B-2 2,089,000.00 2,061,635.17 3,132.41 0.00 0.00 0.00
B-3 1,392,000.00 1,373,765.51 2,087.27 0.00 0.00 0.00
B-4 1,115,000.00 1,100,394.07 1,671.92 0.00 0.00 0.00
B-5 835,000.00 824,061.93 1,252.06 0.00 0.00 0.00
B-6 1,114,926.00 1,100,321.45 1,671.27 0.00 0.00 0.00
Totals 278,542,084.03 248,789,001.83 383,420.30 3,621,074.58 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-1 2,758,281.61 155,063,758.03 0.84517689 2,758,281.61
1-CB-R 0.00 0.00 0.00000000 0.00
1-CB-LR 0.00 0.00 0.00000000 0.00
1-CB-2 0.00 23,189,000.00 1.00000000 0.00
1-CB-3 0.00 0.00 0.00000000 0.00
1-CB-4 0.00 10,000,000.00 1.00000000 0.00
1-CB-5 0.00 4,639,000.00 1.00000000 0.00
CB-IO 0.00 0.00 0.00000000 0.00
2-A-1 1,198,921.01 37,850,679.40 0.88318546 1,198,921.01
30-PO 300.18 247,939.64 0.91129189 300.18
15-IO 0.00 0.00 0.00000000 0.00
15-PO 28,405.21 1,579,170.62 0.91813145 28,405.21
B-1 8,771.95 5,764,596.04 0.98540103 8,771.95
B-2 3,132.41 2,058,502.76 0.98540103 3,132.41
B-3 2,087.27 1,371,678.24 0.98540103 2,087.27
B-4 1,671.92 1,098,722.15 0.98540103 1,671.92
B-5 1,252.06 822,809.86 0.98540103 1,252.06
B-6 1,671.27 1,098,649.64 0.98540140 1,671.27
Totals 4,004,494.89 244,784,506.38 0.87880619 4,004,494.89
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-1 183,469,000.00 860.21093286 1.12220778 13.91183944 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
1-CB-2 23,189,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-CB-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-4 10,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-CB-5 4,639,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CB-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 42,857,000.00 911.16038010 3.55192804 24.42298878 0.00000000
30-PO 272,074.89 912.39522324 1.06603002 0.03726915 0.00000000
15-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
15-PO 1,719,983.14 934.64627217 3.73728082 12.77753223 0.00000000
B-1 5,850,000.00 986.90051111 1.49947863 0.00000000 0.00000000
B-2 2,089,000.00 986.90051221 1.49947822 0.00000000 0.00000000
B-3 1,392,000.00 986.90051006 1.49947557 0.00000000 0.00000000
B-4 1,115,000.00 986.90051121 1.49947982 0.00000000 0.00000000
B-5 835,000.00 986.90051497 1.49947305 0.00000000 0.00000000
B-6 1,114,926.00 986.90087952 1.49899635 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-1 0.00000000 15.03404722 845.17688563 0.84517689 15.03404722
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
1-CB-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-CB-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-CB-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-CB-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CB-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 0.00000000 27.97491682 883.18546328 0.88318546 27.97491682
30-PO 0.00000000 1.10329917 911.29188732 0.91129189 1.10329917
15-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
15-PO 0.00000000 16.51481886 918.13145331 0.91813145 16.51481886
B-1 0.00000000 1.49947863 985.40103248 0.98540103 1.49947863
B-2 0.00000000 1.49947822 985.40103399 0.98540103 1.49947822
B-3 0.00000000 1.49947557 985.40103448 0.98540103 1.49947557
B-4 0.00000000 1.49947982 985.40103139 0.98540103 1.49947982
B-5 0.00000000 1.49947305 985.40102994 0.98540103 1.49947305
B-6 0.00000000 1.49899635 985.40139884 0.98540140 1.49899635
<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-1 183,469,000.00 5.25000% 157,822,039.64 690,471.42 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
1-CB-2 23,189,000.00 5.50000% 23,189,000.00 106,282.92 0.00 0.00
1-CB-3 0.00 5.50000% 7,173,729.07 32,879.59 0.00 0.00
1-CB-4 10,000,000.00 5.50000% 10,000,000.00 45,833.33 0.00 0.00
1-CB-5 4,639,000.00 5.50000% 4,639,000.00 21,262.08 0.00 0.00
CB-IO 0.00 5.50000% 13,345,517.38 61,166.95 0.00 0.00
2-A-1 42,857,000.00 5.50000% 39,049,600.41 178,977.34 0.00 0.00
30-PO 272,074.89 0.00000% 248,239.83 0.00 0.00 0.00
15-IO 0.00 5.50000% 294,964.70 1,351.92 0.00 0.00
15-PO 1,719,983.14 0.00000% 1,607,575.83 0.00 0.00 0.00
B-1 5,850,000.00 5.50000% 5,773,367.99 26,461.27 0.00 0.00
B-2 2,089,000.00 5.50000% 2,061,635.17 9,449.16 0.00 0.00
B-3 1,392,000.00 5.50000% 1,373,765.51 6,296.43 0.00 0.00
B-4 1,115,000.00 5.50000% 1,100,394.07 5,043.47 0.00 0.00
B-5 835,000.00 5.50000% 824,061.93 3,776.95 0.00 0.00
B-6 1,114,926.00 5.50000% 1,100,321.45 5,043.14 0.00 0.00
Totals 278,542,084.03 1,194,295.97 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-1 0.00 0.00 690,471.42 0.00 155,063,758.03
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
1-CB-2 0.00 0.00 106,282.92 0.00 23,189,000.00
1-CB-3 0.00 0.00 32,879.59 0.00 7,048,352.64
1-CB-4 0.00 0.00 45,833.33 0.00 10,000,000.00
1-CB-5 0.00 0.00 21,262.08 0.00 4,639,000.00
CB-IO 0.00 0.00 61,166.95 0.00 13,169,252.67
2-A-1 0.00 0.00 178,977.34 0.00 37,850,679.40
30-PO 0.00 0.00 0.00 0.00 247,939.64
15-IO 0.00 0.00 1,351.92 0.00 288,748.48
15-PO 0.00 0.00 0.00 0.00 1,579,170.62
B-1 0.00 0.00 26,461.27 0.00 5,764,596.04
B-2 0.00 0.00 9,449.16 0.00 2,058,502.76
B-3 0.00 0.00 6,296.43 0.00 1,371,678.24
B-4 0.00 0.00 5,043.47 0.00 1,098,722.15
B-5 0.00 0.00 3,776.95 0.00 822,809.86
B-6 0.00 0.00 5,043.14 0.00 1,098,649.64
Totals 0.00 0.00 1,194,295.97 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-1 183,469,000.00 5.25000% 860.21093286 3.76342281 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
1-CB-2 23,189,000.00 5.50000% 1000.00000000 4.58333348 0.00000000 0.00000000
1-CB-3 0.00 5.50000% 860.21093231 3.94263325 0.00000000 0.00000000
1-CB-4 10,000,000.00 5.50000% 1000.00000000 4.58333300 0.00000000 0.00000000
1-CB-5 4,639,000.00 5.50000% 1000.00000000 4.58333261 0.00000000 0.00000000
CB-IO 0.00 5.50000% 855.36755688 3.92043434 0.00000000 0.00000000
2-A-1 42,857,000.00 5.50000% 911.16038010 4.17615185 0.00000000 0.00000000
30-PO 272,074.89 0.00000% 912.39522324 0.00000000 0.00000000 0.00000000
15-IO 0.00 5.50000% 807.63660043 3.70166353 0.00000000 0.00000000
15-PO 1,719,983.14 0.00000% 934.64627217 0.00000000 0.00000000 0.00000000
B-1 5,850,000.00 5.50000% 986.90051111 4.52329402 0.00000000 0.00000000
B-2 2,089,000.00 5.50000% 986.90051221 4.52329344 0.00000000 0.00000000
B-3 1,392,000.00 5.50000% 986.90051006 4.52329741 0.00000000 0.00000000
B-4 1,115,000.00 5.50000% 986.90051121 4.52329148 0.00000000 0.00000000
B-5 835,000.00 5.50000% 986.90051497 4.52329341 0.00000000 0.00000000
B-6 1,114,926.00 5.50000% 986.90087952 4.52329572 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-1 0.00000000 0.00000000 3.76342281 0.00000000 845.17688563
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
1-CB-2 0.00000000 0.00000000 4.58333348 0.00000000 1000.00000000
1-CB-3 0.00000000 0.00000000 3.94263325 0.00000000 845.17688590
1-CB-4 0.00000000 0.00000000 4.58333300 0.00000000 1000.00000000
1-CB-5 0.00000000 0.00000000 4.58333261 0.00000000 1000.00000000
CB-IO 0.00000000 0.00000000 3.92043434 0.00000000 844.07004701
2-A-1 0.00000000 0.00000000 4.17615185 0.00000000 883.18546328
30-PO 0.00000000 0.00000000 0.00000000 0.00000000 911.29188732
15-IO 0.00000000 0.00000000 3.70166353 0.00000000 790.61610005
15-PO 0.00000000 0.00000000 0.00000000 0.00000000 918.13145331
B-1 0.00000000 0.00000000 4.52329402 0.00000000 985.40103248
B-2 0.00000000 0.00000000 4.52329344 0.00000000 985.40103399
B-3 0.00000000 0.00000000 4.52329741 0.00000000 985.40103448
B-4 0.00000000 0.00000000 4.52329148 0.00000000 985.40103139
B-5 0.00000000 0.00000000 4.52329341 0.00000000 985.40102994
B-6 0.00000000 0.00000000 4.52329572 0.00000000 985.40139884
<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 5,252,798.81
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 5,252,798.81
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 54,007.95
Payment of Interest and Principal 5,198,790.86
Total Withdrawals (Pool Distribution Amount) 5,252,798.81
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 51,831.04
Trustee Fee: Wells Fargo Bank, N.A. 2,176.91
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 54,007.95
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 5 0 0 5
729,282.28 0.00 0.00 729,282.28
30 Days 12 0 0 0 12
1,554,415.60 0.00 0.00 0.00 1,554,415.60
60 Days 2 0 0 0 2
414,834.07 0.00 0.00 0.00 414,834.07
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 14 5 0 0 19
1,969,249.67 729,282.28 0.00 0.00 2,698,531.95
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 0.272926% 0.000000% 0.000000% 0.272926%
0.297544% 0.000000% 0.000000% 0.297544%
30 Days 0.655022% 0.000000% 0.000000% 0.000000% 0.655022%
0.634196% 0.000000% 0.000000% 0.000000% 0.634196%
60 Days 0.109170% 0.000000% 0.000000% 0.000000% 0.109170%
0.169251% 0.000000% 0.000000% 0.000000% 0.169251%
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 0.764192% 0.272926% 0.000000% 0.000000% 1.037118%
0.803446% 0.297544% 0.000000% 0.000000% 1.100991%
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 5 0 0 5
729,282.28 0.00 0.00 729,282.28
30 Days 8 0 0 0 8
1,194,121.24 0.00 0.00 0.00 1,194,121.24
60 Days 2 0 0 0 2
414,834.07 0.00 0.00 0.00 414,834.07
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 10 5 0 0 15
1,608,955.31 729,282.28 0.00 0.00 2,338,237.59
0-29 Days 0.344353% 0.000000% 0.000000% 0.344353%
0.358316% 0.000000% 0.000000% 0.358316%
30 Days 0.550964% 0.000000% 0.000000% 0.000000% 0.550964%
0.586704% 0.000000% 0.000000% 0.000000% 0.586704%
60 Days 0.137741% 0.000000% 0.000000% 0.000000% 0.137741%
0.203819% 0.000000% 0.000000% 0.000000% 0.203819%
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 0.688705% 0.344353% 0.000000% 0.000000% 1.033058%
0.790523% 0.358316% 0.000000% 0.000000% 1.148840%
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 4 0 0 0 4
360,294.36 0.00 0.00 0.00 360,294.36
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 4 0 0 0 4
360,294.36 0.00 0.00 0.00 360,294.36
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.052632% 0.000000% 0.000000% 0.000000% 1.052632%
0.866718% 0.000000% 0.000000% 0.000000% 0.866718%
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 1.052632% 0.000000% 0.000000% 0.000000% 1.052632%
0.866718% 0.000000% 0.000000% 0.000000% 0.866718%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 12,966.11
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 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.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
COLLATERAL STATEMENT
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 6.021023%
Weighted Average Pass-Through Rate 5.760523%
Weighted Average Maturity(Stepdown Calculation) 319
Beginning Scheduled Collateral Loan Count 1,856
Number Of Loans Paid In Full 24
Ending Scheduled Collateral Loan Count 1,832
Beginning Scheduled Collateral Balance 248,789,001.81
Ending Scheduled Collateral Balance 244,784,506.38
Ending Actual Collateral Balance at 31-Oct-2005 245,100,356.04
Monthly P&I Constant 1,631,724.44
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 5,095,428.17
Class AP Deferred Amount 0.00
Scheduled Principal 383,420.85
Unscheduled Principal 3,621,074.58
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15 & 30 Year Fixed 15 & 30 Year Mixed Fixed
Weighted Average Coupon Rate 6.109972 5.591289 6.021023
Weighted Average Net Rate 5.859972 5.341289 5.771023
Weighted Average Maturity 349 170 319
Beginning Loan Count 1,469 387 1,856
Loans Paid In Full 17 7 24
Ending Loan Count 1,452 380 1,832
Beginning Scheduled Balance 206,124,177.86 42,664,823.95 248,789,001.81
Ending Scheduled Balance 203,354,834.95 41,429,671.43 244,784,506.38
Record Date 10/31/2005 10/31/2005 10/31/2005
Principal And Interest Constant 1,266,452.28 365,272.16 1,631,724.44
Scheduled Principal 216,941.50 166,479.35 383,420.85
Unscheduled Principal 2,552,401.41 1,068,673.17 3,621,074.58
Scheduled Interest 1,049,510.78 198,792.81 1,248,303.59
Servicing Fees 42,942.54 8,888.50 51,831.04
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,803.59 373.32 2,176.91
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 1,004,764.65 189,530.99 1,194,295.64
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 5.849472 5.330789 5.760523
Miscellaneous Reporting
Group 1
CPR 13.901672%
Subordinate % 4.967020%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.032980%
Group 2
CPR 26.332878%
Subordinate % 4.889874%
Subordinate Prepayment % 0.000000%
Senior Prepayment % 100.000000%
Senior % 95.110126%
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 17 2,554,115.00 2,527,166.04 0 0.00 0.00
2 7 1,041,040.00 1,004,508.77 0 0.00 0.00
Total 24 3,595,155.00 3,531,674.81 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 27,863.31
2 0 0.00 0.00 0 0.00 0.00 68,356.83
Total 0 0.00 0.00 0 0.00 0.00 96,220.14
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 3301032268 WA 79.79 01-Jan-2005 116,905.00 115,681.75
1 3301032284 WA 79.44 01-Jan-2005 116,390.00 115,142.99
1 3301063487 NM 80.00 01-Jan-2005 74,400.00 73,583.87
1 3301209189 FL 90.00 01-Feb-2005 63,900.00 63,293.74
1 6105987082 FL 77.95 01-Jan-2005 194,500.00 192,416.26
1 6229889586 MO 77.08 01-Jan-2005 111,000.00 109,782.48
1 6300891493 GA 80.00 01-Feb-2005 218,720.00 216,492.95
1 6409466981 NY 60.38 01-Jan-2005 253,000.00 250,224.93
1 6491384399 NH 52.04 01-Jan-2005 140,000.00 138,464.36
1 6574752397 CA 56.55 01-Feb-2005 192,300.00 190,341.92
1 6576844275 PA 75.00 01-Feb-2005 50,250.00 47,286.73
1 6675794827 AZ 75.00 01-Jan-2005 116,250.00 114,944.67
1 6723090392 FL 90.00 01-Dec-2004 108,000.00 106,792.78
1 6790581570 NV 77.58 01-Feb-2005 180,000.00 178,209.77
1 6849711921 CA 31.64 01-Jan-2005 250,000.00 247,126.54
1 6947065154 FL 80.00 01-Feb-2005 196,000.00 194,050.62
1 6980027392 VA 58.27 01-Feb-2005 172,500.00 170,701.74
2 3301010207 FL 70.00 01-Jan-2005 141,402.00 135,861.99
2 3301046730 NC 72.40 01-Jan-2005 72,659.00 69,467.95
2 3301073957 GA 56.25 01-Jan-2005 149,069.00 143,049.66
2 6085916788 CA 71.59 01-Feb-2005 252,000.00 242,955.30
2 6414848496 CA 80.00 01-Jan-2005 340,000.00 326,408.09
2 6564463062 TX 90.00 01-Feb-2005 35,910.00 34,634.14
2 6996561426 NY 74.62 01-Feb-2005 50,000.00 47,939.21
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 3301032268 Loan Paid in Full 0 6.375% 360 10
1 3301032284 Loan Paid in Full 0 6.250% 360 10
1 3301063487 Loan Paid in Full 0 6.125% 360 10
1 3301209189 Loan Paid in Full 0 6.375% 360 9
1 6105987082 Loan Paid in Full 0 6.250% 360 10
1 6229889586 Loan Paid in Full 0 6.125% 360 10
1 6300891493 Loan Paid in Full 0 6.000% 360 9
1 6409466981 Loan Paid in Full 0 6.125% 360 10
1 6491384399 Loan Paid in Full 0 6.125% 360 10
1 6574752397 Loan Paid in Full 0 6.000% 360 9
1 6576844275 Loan Paid in Full (1) 6.375% 360 9
1 6675794827 Loan Paid in Full 0 6.000% 360 10
1 6723090392 Loan Paid in Full 0 6.500% 360 11
1 6790581570 Loan Paid in Full (1) 6.125% 360 9
1 6849711921 Loan Paid in Full 0 5.875% 360 10
1 6947065154 Loan Paid in Full 0 6.125% 360 9
1 6980027392 Loan Paid in Full 0 5.875% 360 9
2 3301010207 Loan Paid in Full 0 5.875% 180 10
2 3301046730 Loan Paid in Full 0 5.875% 180 10
2 3301073957 Loan Paid in Full 0 5.500% 180 10
2 6085916788 Loan Paid in Full 0 5.750% 180 9
2 6414848496 Loan Paid in Full 0 5.625% 180 10
2 6564463062 Loan Paid in Full 0 5.875% 180 9
2 6996561426 Loan Paid in Full 0 5.500% 180 9
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.458% Current Month 16.156% Current Month 850.866%
3 Month Average 1.463% 3 Month Average 16.177% 3 Month Average 968.567%
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 5.867% N/A Feb-2005 5,940.581% N/A
Mar-2005 6.405% N/A Mar-2005 2,155.414% N/A
Apr-2005 12.134% N/A Apr-2005 2,425.010% N/A
May-2005 6.979% N/A May-2005 996.275% N/A
Jun-2005 9.454% N/A Jun-2005 1,049.636% N/A
Jul-2005 16.375% N/A Jul-2005 1,488.454% N/A
Aug-2005 21.007% N/A Aug-2005 1,616.471% N/A
Sep-2005 19.060% N/A Sep-2005 1,271.312% N/A
Oct-2005 13.314% N/A Oct-2005 783.522% N/A
Nov-2005 16.156% N/A Nov-2005 850.866% 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 1.240% Current Month 13.902% Current Month 731.086%
3 Month Average 1.520% 3 Month Average 16.741% 3 Month Average 1,008.798%
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 5.860% N/A Feb-2005 5,808.078% N/A
Mar-2005 7.226% N/A Mar-2005 2,414.105% N/A
Apr-2005 12.493% N/A Apr-2005 2,485.328% N/A
May-2005 7.926% N/A May-2005 1,127.705% N/A
Jun-2005 9.935% N/A Jun-2005 1,100.275% N/A
Jul-2005 18.359% N/A Jul-2005 1,665.508% N/A
Aug-2005 21.578% N/A Aug-2005 1,657.329% N/A
Sep-2005 20.586% N/A Sep-2005 1,370.743% N/A
Oct-2005 15.734% N/A Oct-2005 924.565% N/A
Nov-2005 13.902% N/A Nov-2005 731.086% 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 2.515% Current Month 26.333% Current Month 1,396.618%
3 Month Average 1.179% 3 Month Average 12.659% 3 Month Average 725.257%
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 5.900% N/A Feb-2005 6,696.789% N/A
Mar-2005 2.202% N/A Mar-2005 768.961% N/A
Apr-2005 10.323% N/A Apr-2005 2,111.427% N/A
May-2005 2.116% N/A May-2005 307.250% N/A
Jun-2005 7.020% N/A Jun-2005 789.551% N/A
Jul-2005 5.823% N/A Jul-2005 534.393% N/A
Aug-2005 18.134% N/A Aug-2005 1,408.206% N/A
Sep-2005 11.135% N/A Sep-2005 748.999% N/A
Oct-2005 0.509% N/A Oct-2005 30.155% N/A
Nov-2005 26.333% N/A Nov-2005 1,396.618% 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 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.
<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>