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
ASSET BACKED FUNDING CORPORATION
Asset Backed Certificates, Series 2005-WM1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-127970-01
Pooling and Servicing Agreement) (Commission 54-2184218
(State or other File Number) 54-2184219
jurisdiction 54-2184220
of Incorporation) 54-2184221
54-2184346
54-2184347
54-2184348
54-6675915
IRS EIN
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
On November 25, 2005 a distribution was made to holders of ASSET BACKED
FUNDING CORPORATION, Asset Backed Certificates, Series 2005-WM1 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Asset Backed Certificates, Series
2005-WM1 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.
ASSET BACKED FUNDING CORPORATION
Asset Backed Certificates, Series 2005-WM1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 11/25/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Certificates, Series 2005-WM1 Trust, relating to the
November 25, 2005 distribution.
EX-99.1
Asset Backed Funding Corporation
Asset Backed Certificates
Record Date: 10/31/2005
Distribution Date: 11/25/2005
Asset Backed Funding Corporation
Asset Backed Certificates
Series 2005-WMC1
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>
R ABF05WM1R SUB 0.00000% 0.00 0.00
A-1 04542BNX6 SEN 4.29750% 230,269,765.50 852,142.05
A-2A 04542BNY4 SEN 4.14750% 201,403,349.04 719,303.67
A-2B 04542BNZ1 SEN 4.21750% 86,365,000.00 313,654.89
A-2C 04542BPA4 SEN 4.31750% 141,576,000.00 526,357.94
A-2D 04542BPB2 SEN 4.39750% 45,876,000.00 173,720.31
A-2MZ 04542BPC0 SEN 4.35750% 52,802,106.63 198,128.90
M-1 04542BPD8 SUB 4.47750% 37,257,000.00 143,649.02
M-2 04542BPE6 SUB 4.48750% 33,734,000.00 130,356.14
M-3 04542BPF3 SUB 4.52750% 23,160,000.00 90,293.44
M-4 04542BPG1 SUB 4.62750% 16,111,000.00 64,198.98
M-5 04542BPH9 SUB 4.66750% 16,615,000.00 66,779.61
M-6 04542BPJ5 SUB 4.71750% 14,098,000.00 57,270.19
M-7 04542BPK2 SUB 5.15750% 15,104,000.00 67,079.59
M-8 04542BPL0 SUB 5.33750% 11,580,000.00 53,223.77
M-9 04542BPM8 SUB 5.78750% 10,070,000.00 50,185.66
M-10 04542BPN6 SUB 6.03750% 15,104,000.00 78,525.07
M-11 04542BPP1 SUB 7.03750% 6,042,000.00 36,614.94
M-12 04542BPQ9 SUB 6.53750% 9,063,000.00 51,020.28
B-1 04542BPR7 SUB 6.53750% 10,573,000.00 59,520.85
B-2 04542BPS5 SUB 6.53750% 3,021,000.00 17,006.76
CE ABF5WM1CE SUB 0.00000% 5,034,827.14 1,434,047.15
R-X ABF5WM1RX SUB 0.00000% 0.00 0.00
P ABF05WM1P SEN 0.00000% 100.00 210,600.23
Totals 984,859,148.31 5,393,679.44
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
R 0.00 0.00 0.00 0.00 0.00
A-1 6,683,597.50 0.00 223,586,168.00 7,535,739.55 0.00
A-2A 15,781,493.68 0.00 185,621,855.36 16,500,797.35 0.00
A-2B 0.00 0.00 86,365,000.00 313,654.89 0.00
A-2C 0.00 0.00 141,576,000.00 526,357.94 0.00
A-2D 0.00 0.00 45,876,000.00 173,720.31 0.00
A-2MZ 1,753,494.17 0.00 51,048,612.46 1,951,623.07 0.00
M-1 0.00 0.00 37,257,000.00 143,649.02 0.00
M-2 0.00 0.00 33,734,000.00 130,356.14 0.00
M-3 0.00 0.00 23,160,000.00 90,293.44 0.00
M-4 0.00 0.00 16,111,000.00 64,198.98 0.00
M-5 0.00 0.00 16,615,000.00 66,779.61 0.00
M-6 0.00 0.00 14,098,000.00 57,270.19 0.00
M-7 0.00 0.00 15,104,000.00 67,079.59 0.00
M-8 0.00 0.00 11,580,000.00 53,223.77 0.00
M-9 0.00 0.00 10,070,000.00 50,185.66 0.00
M-10 0.00 0.00 15,104,000.00 78,525.07 0.00
M-11 0.00 0.00 6,042,000.00 36,614.94 0.00
M-12 0.00 0.00 9,063,000.00 51,020.28 0.00
B-1 0.00 0.00 10,573,000.00 59,520.85 0.00
B-2 0.00 0.00 3,021,000.00 17,006.76 0.00
CE 0.00 0.00 5,034,827.14 1,434,047.15 0.00
R-X 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 100.00 210,600.23 0.00
Totals 24,218,585.35 0.00 960,640,562.96 29,612,264.79 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>
R 0.00 0.00 0.00 0.00 0.00 0.00
A-1 235,900,000.00 230,269,765.50 0.00 6,683,597.50 0.00 0.00
A-2A 216,231,000.00 201,403,349.04 0.00 15,781,493.68 0.00 0.00
A-2B 86,365,000.00 86,365,000.00 0.00 0.00 0.00 0.00
A-2C 141,576,000.00 141,576,000.00 0.00 0.00 0.00 0.00
A-2D 45,876,000.00 45,876,000.00 0.00 0.00 0.00 0.00
A-2MZ 54,450,000.00 52,802,106.63 0.00 1,753,494.17 0.00 0.00
M-1 37,257,000.00 37,257,000.00 0.00 0.00 0.00 0.00
M-2 33,734,000.00 33,734,000.00 0.00 0.00 0.00 0.00
M-3 23,160,000.00 23,160,000.00 0.00 0.00 0.00 0.00
M-4 16,111,000.00 16,111,000.00 0.00 0.00 0.00 0.00
M-5 16,615,000.00 16,615,000.00 0.00 0.00 0.00 0.00
M-6 14,098,000.00 14,098,000.00 0.00 0.00 0.00 0.00
M-7 15,104,000.00 15,104,000.00 0.00 0.00 0.00 0.00
M-8 11,580,000.00 11,580,000.00 0.00 0.00 0.00 0.00
M-9 10,070,000.00 10,070,000.00 0.00 0.00 0.00 0.00
M-10 15,104,000.00 15,104,000.00 0.00 0.00 0.00 0.00
M-11 6,042,000.00 6,042,000.00 0.00 0.00 0.00 0.00
M-12 9,063,000.00 9,063,000.00 0.00 0.00 0.00 0.00
B-1 10,573,000.00 10,573,000.00 0.00 0.00 0.00 0.00
B-2 3,021,000.00 3,021,000.00 0.00 0.00 0.00 0.00
CE 5,035,323.42 5,034,827.14 0.00 0.00 0.00 0.00
R-X 0.00 0.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
Totals 1,006,965,423.42 984,859,148.31 0.00 24,218,585.35 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>
R 0.00 0.00 0.00000000 0.00
A-1 6,683,597.50 223,586,168.00 0.94780063 6,683,597.50
A-2A 15,781,493.68 185,621,855.36 0.85844239 15,781,493.68
A-2B 0.00 86,365,000.00 1.00000000 0.00
A-2C 0.00 141,576,000.00 1.00000000 0.00
A-2D 0.00 45,876,000.00 1.00000000 0.00
A-2MZ 1,753,494.17 51,048,612.46 0.93753191 1,753,494.17
M-1 0.00 37,257,000.00 1.00000000 0.00
M-2 0.00 33,734,000.00 1.00000000 0.00
M-3 0.00 23,160,000.00 1.00000000 0.00
M-4 0.00 16,111,000.00 1.00000000 0.00
M-5 0.00 16,615,000.00 1.00000000 0.00
M-6 0.00 14,098,000.00 1.00000000 0.00
M-7 0.00 15,104,000.00 1.00000000 0.00
M-8 0.00 11,580,000.00 1.00000000 0.00
M-9 0.00 10,070,000.00 1.00000000 0.00
M-10 0.00 15,104,000.00 1.00000000 0.00
M-11 0.00 6,042,000.00 1.00000000 0.00
M-12 0.00 9,063,000.00 1.00000000 0.00
B-1 0.00 10,573,000.00 1.00000000 0.00
B-2 0.00 3,021,000.00 1.00000000 0.00
CE 0.00 5,034,827.14 0.99990144 0.00
R-X 0.00 0.00 0.00000000 0.00
P 0.00 100.00 1.00000000 0.00
Totals 24,218,585.35 960,640,562.96 0.95399558 24,218,585.35
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>
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1 235,900,000.00 976.13296100 0.00000000 28.33233362 0.00000000
A-2A 216,231,000.00 931.42680300 0.00000000 72.98441796 0.00000000
A-2B 86,365,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2C 141,576,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2D 45,876,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2MZ 54,450,000.00 969.73565895 0.00000000 32.20374968 0.00000000
M-1 37,257,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 33,734,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 23,160,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 16,111,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 16,615,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 14,098,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-7 15,104,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-8 11,580,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-9 10,070,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-10 15,104,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-11 6,042,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-12 9,063,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 10,573,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-2 3,021,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 5,035,323.42 999.90144029 0.00000000 0.00000000 0.00000000
R-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All Classes are per $1000 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>
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 28.33233362 947.80062738 0.94780063 28.33233362
A-2A 0.00000000 72.98441796 858.44238504 0.85844239 72.98441796
A-2B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2D 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2MZ 0.00000000 32.20374968 937.53190927 0.93753191 32.20374968
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-12 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 0.00000000 999.90144029 0.99990144 0.00000000
R-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
R 0.00 0.00000% 0.00 0.00 0.00 0.00
A-1 235,900,000.00 4.29750% 230,269,765.50 852,142.05 0.00 0.00
A-2A 216,231,000.00 4.14750% 201,403,349.04 719,303.67 0.00 0.00
A-2B 86,365,000.00 4.21750% 86,365,000.00 313,654.89 0.00 0.00
A-2C 141,576,000.00 4.31750% 141,576,000.00 526,357.94 0.00 0.00
A-2D 45,876,000.00 4.39750% 45,876,000.00 173,720.31 0.00 0.00
A-2MZ 54,450,000.00 4.35750% 52,802,106.63 198,128.90 0.00 0.00
M-1 37,257,000.00 4.47750% 37,257,000.00 143,649.02 0.00 0.00
M-2 33,734,000.00 4.48750% 33,734,000.00 130,356.14 0.00 0.00
M-3 23,160,000.00 4.52750% 23,160,000.00 90,293.44 0.00 0.00
M-4 16,111,000.00 4.62750% 16,111,000.00 64,198.98 0.00 0.00
M-5 16,615,000.00 4.66750% 16,615,000.00 66,779.61 0.00 0.00
M-6 14,098,000.00 4.71750% 14,098,000.00 57,270.19 0.00 0.00
M-7 15,104,000.00 5.15750% 15,104,000.00 67,079.59 0.00 0.00
M-8 11,580,000.00 5.33750% 11,580,000.00 53,223.77 0.00 0.00
M-9 10,070,000.00 5.78750% 10,070,000.00 50,185.66 0.00 0.00
M-10 15,104,000.00 6.03750% 15,104,000.00 78,525.07 0.00 0.00
M-11 6,042,000.00 7.03750% 6,042,000.00 36,614.94 0.00 0.00
M-12 9,063,000.00 6.53750% 9,063,000.00 51,020.28 0.00 0.00
B-1 10,573,000.00 6.53750% 10,573,000.00 59,520.85 0.00 0.00
B-2 3,021,000.00 6.53750% 3,021,000.00 17,006.76 0.00 0.00
CE 5,035,323.42 0.00000% 5,034,827.14 0.00 0.00 0.00
R-X 0.00 0.00000% 0.00 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
Totals 1,006,965,423.42 3,749,032.06 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>
R 0.00 0.00 0.00 0.00 0.00
A-1 0.00 0.00 852,142.05 0.00 223,586,168.00
A-2A 0.00 0.00 719,303.67 0.00 185,621,855.36
A-2B 0.00 0.00 313,654.89 0.00 86,365,000.00
A-2C 0.00 0.00 526,357.94 0.00 141,576,000.00
A-2D 0.00 0.00 173,720.31 0.00 45,876,000.00
A-2MZ 0.00 0.00 198,128.90 0.00 51,048,612.46
M-1 0.00 0.00 143,649.02 0.00 37,257,000.00
M-2 0.00 0.00 130,356.14 0.00 33,734,000.00
M-3 0.00 0.00 90,293.44 0.00 23,160,000.00
M-4 0.00 0.00 64,198.98 0.00 16,111,000.00
M-5 0.00 0.00 66,779.61 0.00 16,615,000.00
M-6 0.00 0.00 57,270.19 0.00 14,098,000.00
M-7 0.00 0.00 67,079.59 0.00 15,104,000.00
M-8 0.00 0.00 53,223.77 0.00 11,580,000.00
M-9 0.00 0.00 50,185.66 0.00 10,070,000.00
M-10 0.00 0.00 78,525.07 0.00 15,104,000.00
M-11 0.00 0.00 36,614.94 0.00 6,042,000.00
M-12 0.00 0.00 51,020.28 0.00 9,063,000.00
B-1 0.00 0.00 59,520.85 0.00 10,573,000.00
B-2 0.00 0.00 17,006.76 0.00 3,021,000.00
CE 0.00 0.00 1,434,047.15 0.00 5,034,827.14
R-X 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 210,600.23 0.00 100.00
Totals 0.00 0.00 5,393,679.44 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>
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
A-1 235,900,000.00 4.29750% 976.13296100 3.61230203 0.00000000 0.00000000
A-2A 216,231,000.00 4.14750% 931.42680300 3.32655202 0.00000000 0.00000000
A-2B 86,365,000.00 4.21750% 1000.00000000 3.63173612 0.00000000 0.00000000
A-2C 141,576,000.00 4.31750% 1000.00000000 3.71784723 0.00000000 0.00000000
A-2D 45,876,000.00 4.39750% 1000.00000000 3.78673620 0.00000000 0.00000000
A-2MZ 54,450,000.00 4.35750% 969.73565895 3.63873095 0.00000000 0.00000000
M-1 37,257,000.00 4.47750% 1000.00000000 3.85562498 0.00000000 0.00000000
M-2 33,734,000.00 4.48750% 1000.00000000 3.86423608 0.00000000 0.00000000
M-3 23,160,000.00 4.52750% 1000.00000000 3.89868048 0.00000000 0.00000000
M-4 16,111,000.00 4.62750% 1000.00000000 3.98479176 0.00000000 0.00000000
M-5 16,615,000.00 4.66750% 1000.00000000 4.01923623 0.00000000 0.00000000
M-6 14,098,000.00 4.71750% 1000.00000000 4.06229181 0.00000000 0.00000000
M-7 15,104,000.00 5.15750% 1000.00000000 4.44118048 0.00000000 0.00000000
M-8 11,580,000.00 5.33750% 1000.00000000 4.59618048 0.00000000 0.00000000
M-9 10,070,000.00 5.78750% 1000.00000000 4.98368024 0.00000000 0.00000000
M-10 15,104,000.00 6.03750% 1000.00000000 5.19895855 0.00000000 0.00000000
M-11 6,042,000.00 7.03750% 1000.00000000 6.06006951 0.00000000 0.00000000
M-12 9,063,000.00 6.53750% 1000.00000000 5.62951341 0.00000000 0.00000000
B-1 10,573,000.00 6.53750% 1000.00000000 5.62951386 0.00000000 0.00000000
B-2 3,021,000.00 6.53750% 1000.00000000 5.62951341 0.00000000 0.00000000
CE 5,035,323.42 0.00000% 999.90144029 0.00000000 0.00000000 0.00000000
R-X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are per $1000 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>
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 0.00000000 3.61230203 0.00000000 947.80062738
A-2A 0.00000000 0.00000000 3.32655202 0.00000000 858.44238504
A-2B 0.00000000 0.00000000 3.63173612 0.00000000 1000.00000000
A-2C 0.00000000 0.00000000 3.71784723 0.00000000 1000.00000000
A-2D 0.00000000 0.00000000 3.78673620 0.00000000 1000.00000000
A-2MZ 0.00000000 0.00000000 3.63873095 0.00000000 937.53190927
M-1 0.00000000 0.00000000 3.85562498 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 3.86423608 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 3.89868048 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.98479176 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 4.01923623 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 4.06229181 0.00000000 1000.00000000
M-7 0.00000000 0.00000000 4.44118048 0.00000000 1000.00000000
M-8 0.00000000 0.00000000 4.59618048 0.00000000 1000.00000000
M-9 0.00000000 0.00000000 4.98368024 0.00000000 1000.00000000
M-10 0.00000000 0.00000000 5.19895855 0.00000000 1000.00000000
M-11 0.00000000 0.00000000 6.06006951 0.00000000 1000.00000000
M-12 0.00000000 0.00000000 5.62951341 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 5.62951386 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 5.62951341 0.00000000 1000.00000000
CE 0.00000000 0.00000000 284.79742618 0.00000000 999.90144029
R-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 2106002.30000000 0.00000000 1000.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 29,818,437.33
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 210,600.23
Total Deposits 30,029,037.56
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 416,772.77
Payment of Interest and Principal 29,612,264.79
Total Withdrawals (Pool Distribution Amount) 30,029,037.56
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 404,633.76
Credit Risk Manager Fee 12,139.01
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 416,772.77
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Cap Carryover Reserve Fund 0.00 12,739.57 12,739.57 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 80 0 0 0 80
13,720,680.08 0.00 0.00 0.00 13,720,680.08
60 Days 38 0 0 0 38
7,009,284.74 0.00 0.00 0.00 7,009,284.74
90 Days 5 0 0 0 5
1,075,413.22 0.00 0.00 0.00 1,075,413.22
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 123 0 0 0 123
21,805,378.04 0.00 0.00 0.00 21,805,378.04
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 1.592357% 0.000000% 0.000000% 0.000000% 1.592357%
1.448282% 0.000000% 0.000000% 0.000000% 1.448282%
60 Days 0.756369% 0.000000% 0.000000% 0.000000% 0.756369%
0.739863% 0.000000% 0.000000% 0.000000% 0.739863%
90 Days 0.099522% 0.000000% 0.000000% 0.000000% 0.099522%
0.113515% 0.000000% 0.000000% 0.000000% 0.113515%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.448248% 0.000000% 0.000000% 0.000000% 2.448248%
2.301660% 0.000000% 0.000000% 0.000000% 2.301660%
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 10 0 0 0 10
644,319.35 0.00 0.00 0.00 644,319.35
60 Days 7 0 0 0 7
199,594.92 0.00 0.00 0.00 199,594.92
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 17 0 0 0 17
843,914.27 0.00 0.00 0.00 843,914.27
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.231527% 0.000000% 0.000000% 0.000000% 1.231527%
1.168951% 0.000000% 0.000000% 0.000000% 1.168951%
60 Days 0.862069% 0.000000% 0.000000% 0.000000% 0.862069%
0.362113% 0.000000% 0.000000% 0.000000% 0.362113%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.093596% 0.000000% 0.000000% 0.000000% 2.093596%
1.531064% 0.000000% 0.000000% 0.000000% 1.531064%
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 16 0 0 0 16
2,336,736.43 0.00 0.00 0.00 2,336,736.43
60 Days 6 0 0 0 6
903,640.56 0.00 0.00 0.00 903,640.56
90 Days 3 0 0 0 3
620,063.82 0.00 0.00 0.00 620,063.82
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 25 0 0 0 25
3,860,440.81 0.00 0.00 0.00 3,860,440.81
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.312551% 0.000000% 0.000000% 0.000000% 1.312551%
1.017511% 0.000000% 0.000000% 0.000000% 1.017511%
60 Days 0.492207% 0.000000% 0.000000% 0.000000% 0.492207%
0.393482% 0.000000% 0.000000% 0.000000% 0.393482%
90 Days 0.246103% 0.000000% 0.000000% 0.000000% 0.246103%
0.270001% 0.000000% 0.000000% 0.000000% 0.270001%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.050861% 0.000000% 0.000000% 0.000000% 2.050861%
1.680995% 0.000000% 0.000000% 0.000000% 1.680995%
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 11 0 0 0 11
605,280.00 0.00 0.00 0.00 605,280.00
60 Days 10 0 0 0 10
1,021,485.70 0.00 0.00 0.00 1,021,485.70
90 Days 1 0 0 0 1
63,349.40 0.00 0.00 0.00 63,349.40
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 22 0 0 0 22
1,690,115.10 0.00 0.00 0.00 1,690,115.10
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.925147% 0.000000% 0.000000% 0.000000% 0.925147%
0.483307% 0.000000% 0.000000% 0.000000% 0.483307%
60 Days 0.841043% 0.000000% 0.000000% 0.000000% 0.841043%
0.815641% 0.000000% 0.000000% 0.000000% 0.815641%
90 Days 0.084104% 0.000000% 0.000000% 0.000000% 0.084104%
0.050584% 0.000000% 0.000000% 0.000000% 0.050584%
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 1.850294% 0.000000% 0.000000% 0.000000% 1.850294%
1.349532% 0.000000% 0.000000% 0.000000% 1.349532%
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 43 0 0 0 43
10,134,344.30 0.00 0.00 0.00 10,134,344.30
60 Days 15 0 0 0 15
4,884,563.56 0.00 0.00 0.00 4,884,563.56
90 Days 1 0 0 0 1
392,000.00 0.00 0.00 0.00 392,000.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 59 0 0 0 59
15,410,907.86 0.00 0.00 0.00 15,410,907.86
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.383592% 0.000000% 0.000000% 0.000000% 2.383592%
1.885925% 0.000000% 0.000000% 0.000000% 1.885925%
60 Days 0.831486% 0.000000% 0.000000% 0.000000% 0.831486%
0.908980% 0.000000% 0.000000% 0.000000% 0.908980%
90 Days 0.055432% 0.000000% 0.000000% 0.000000% 0.055432%
0.072948% 0.000000% 0.000000% 0.000000% 0.072948%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 3.270510% 0.000000% 0.000000% 0.000000% 3.270510%
2.867853% 0.000000% 0.000000% 0.000000% 2.867853%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 143,727.86
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.
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.
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.
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.
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 Fixed & Mixed ARM
Weighted Average Gross Coupon 7.077141%
Weighted Average Net Coupon 6.577141%
Weighted Average Pass-Through Rate 6.577141%
Weighted Average Maturity(Stepdown Calculation) 337
Beginning Scheduled Collateral Loan Count 5,128
Number Of Loans Paid In Full 104
Ending Scheduled Collateral Loan Count 5,024
Beginning Scheduled Collateral Balance 971,121,022.38
Ending Scheduled Collateral Balance 946,901,967.20
Ending Actual Collateral Balance at 31-Oct-2005 947,376,179.94
Monthly P&I Constant 6,241,444.43
Special Servicing Fee 0.00
Prepayment Penalties 210,600.23
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 514,144.31
Unscheduled Principal 23,704,910.87
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 5,034,827.12
Overcollateralized Amount 5,034,827.12
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 0.00
Excess Cash Amount 1,434,047.15
Cap Payment $123,641.29
Miscellaneous Reporting
Group 1 Available Funds 8,490,201.82
Group 2 Available Funds 21,257,844.25
A1 Cap 0.00
A2 Cap 0.00
B1 Cap 0.00
B2 Cap 0.00
M1 Cap 0.00
M10 Cap 0.00
M11 Cap 0.00
M12 Cap 0.00
M2 Cap 0.00
M3 Cap 0.00
M4 Cap 0.00
M5 Cap 0.00
M6 Cap 0.00
M7 Cap 0.00
M8 Cap 0.00
M9 Cap 0.00
OC Amount 5,034,827.12
OC Deficiency Amount 0.00
Trigger Event NO
Group Level Collateral Statement
Group 1 1 2
Collateral Description Mixed Fixed Mixed ARM Mixed Fixed
Weighted Average Coupon Rate 8.231396 6.818674 8.659265
Weighted Average Net Rate 7.731396 6.318674 8.159265
Weighted Average Maturity 339 339 334
Beginning Loan Count 822 1,246 1,209
Loans Paid In Full 10 27 20
Ending Loan Count 812 1,219 1,189
Beginning Scheduled Balance 56,275,350.07 235,032,404.32 126,880,133.97
Ending Scheduled Balance 55,084,663.13 229,539,364.10 125,161,182.76
Record Date 10/31/2005 10/31/2005 10/31/2005
Principal And Interest Constant 428,700.37 1,462,592.89 1,004,281.70
Scheduled Principal 42,679.78 127,085.12 88,707.73
Unscheduled Principal 1,148,007.16 5,365,955.10 1,630,243.48
Scheduled Interest 386,020.59 1,335,507.77 915,573.97
Servicing Fees 23,448.06 97,930.17 52,866.73
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 0.00 0.00 0.00
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 362,572.53 1,237,577.60 862,707.24
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 7.731396 6.318674 8.159265
Group Level Collateral Statement
Group 2 Total
Collateral Description Mixed ARM Fixed & Mixed ARM
Weighted Average Coupon Rate 6.706484 7.077141
Weighted Average Net Rate 6.206484 6.577141
Weighted Average Maturity 334 337
Beginning Loan Count 1,851 5,128
Loans Paid In Full 47 104
Ending Loan Count 1,804 5,024
Beginning Scheduled Balance 552,933,134.02 971,121,022.38
Ending scheduled Balance 537,116,757.21 946,901,967.20
Record Date 10/31/2005 10/31/2005
Principal And Interest Constant 3,345,869.47 6,241,444.43
Scheduled Principal 255,671.68 514,144.31
Unscheduled Principal 15,560,705.13 23,704,910.87
Scheduled Interest 3,090,197.79 5,727,300.12
Servicing Fees 230,388.80 404,633.76
Master Servicing Fees 0.00 0.00
Trustee Fee 0.00 0.00
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 2,859,808.99 5,322,666.36
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 6.206484 6.577141
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 10 1,150,635.00 1,147,005.50 0 0.00 0.00
1 27 5,364,350.00 5,348,644.86 0 0.00 0.00
2 20 1,622,210.00 1,618,305.52 0 0.00 0.00
2 47 15,586,991.00 15,553,381.38 0 0.00 0.00
Total 104 23,724,186.00 23,667,337.26 0 0.00 0.00
Prepayment Detail - Prepayments during Current Period (continued)
Summary Substitution Loans Liquidated Loans Curtailments
Original Current Original Current
Principal Principal Principal Principal Curtailment
Group Count Balance Balance Count Balance Balance Amount
<s> <c> <c> <c> <c> <c> <c> <c>
1 0 0.00 0.00 0 0.00 0.00 1,918.61
1 0 0.00 0.00 0 0.00 0.00 19,795.88
2 0 0.00 0.00 0 0.00 0.00 12,734.39
2 0 0.00 0.00 0 0.00 0.00 14,309.51
Total 0 0.00 0.00 0 0.00 0.00 48,758.39
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 0011173107 NY 100.00 01-May-2005 42,400.00 41,697.75
1 0011197989 CA 100.00 01-Jul-2005 40,000.00 39,925.36
1 0011201727 MD 100.00 01-Jul-2005 44,000.00 43,900.81
1 0011201805 MD 79.77 01-Jun-2005 175,500.00 175,048.40
1 0011204082 MD 95.00 01-Jun-2005 32,235.00 32,156.42
1 0011207999 MA 90.00 01-Jul-2005 349,200.00 347,558.80
1 0011212490 CA 70.22 01-Jul-2005 316,000.00 314,781.94
1 0011212636 NJ 100.00 01-Jul-2005 53,000.00 52,901.14
1 0011225060 CA 90.00 01-Jul-2005 33,000.00 32,936.74
1 0011226076 VA 100.00 01-Jul-2005 65,300.00 65,181.19
1 0011150206 CA 90.00 01-May-2005 301,500.00 299,336.84
1 0011155643 IL 80.00 01-May-2005 168,000.00 167,047.35
1 0011164712 MD 68.91 01-Jul-2005 189,500.00 188,769.61
1 0011170936 MD 80.00 01-Jun-2005 340,000.00 338,992.27
1 0011187593 MD 84.00 01-Jul-2005 210,000.00 209,463.15
1 0011191511 MD 90.00 01-Jun-2005 243,000.00 242,100.95
1 0011192284 MD 78.21 01-Jul-2005 140,000.00 139,871.15
1 0011192810 OH 95.00 01-Jun-2005 61,750.00 61,503.00
1 0011195074 IA 88.40 01-Jun-2005 109,000.00 108,523.83
1 0011196677 VA 92.50 01-Jun-2005 296,000.00 294,166.99
1 0011197987 CA 80.00 01-Jul-2005 160,000.00 160,000.00
1 0011200637 MD 73.33 01-Jun-2005 165,000.00 164,174.98
1 0011201160 NY 72.68 01-Jun-2005 417,900.00 415,058.69
1 0011201726 MD 80.00 01-Jul-2005 176,000.00 175,999.67
1 0011201939 CA 80.00 01-Jun-2005 136,000.00 136,006.15
1 0011202020 CA 80.00 01-Jul-2005 94,400.00 93,953.90
1 0011202097 FL 76.47 01-Jun-2005 130,000.00 129,516.54
1 0011202687 CA 89.94 01-Jul-2005 304,000.00 303,999.77
1 0011207030 MD 88.78 01-Jul-2005 269,000.00 268,516.64
1 0011207494 FL 79.73 01-Jun-2005 295,000.00 293,644.35
1 0011217780 CA 90.00 01-Jul-2005 202,500.00 201,845.46
1 0011221942 WA 80.00 01-Jul-2005 116,000.00 115,717.52
1 0011223583 CA 90.00 01-Jul-2005 198,000.00 197,667.53
1 0011225882 AZ 80.00 01-Jul-2005 140,000.00 140,000.00
1 0011226074 VA 80.00 01-Jul-2005 261,200.00 260,310.17
1 0011226943 OR 90.00 01-Jul-2005 127,800.00 127,407.37
1 0011227909 TX 80.00 01-Jul-2005 112,800.00 112,565.34
2 0011155647 IL 95.00 01-May-2005 31,500.00 30,990.06
2 0011170377 MD 100.00 01-May-2005 102,000.00 101,658.62
2 0011170954 MD 100.00 01-Jun-2005 85,000.00 84,636.09
2 0011172982 CA 97.00 01-May-2005 68,000.00 67,819.00
2 0011175986 CA 100.00 01-Jul-2005 77,993.00 77,847.49
2 0011181684 MD 60.00 01-May-2005 171,000.00 170,647.65
2 0011190775 CA 100.00 01-Jun-2005 128,000.00 127,712.15
2 0011193817 CA 100.00 01-Jun-2005 56,600.00 56,469.25
2 0011194102 NJ 58.33 01-Jun-2005 175,000.00 174,168.42
2 0011194458 ID 100.00 01-Jun-2005 33,200.00 33,119.10
2 0011194527 CA 100.00 01-Jul-2005 54,580.00 54,469.67
2 0011201565 FL 100.00 01-Jul-2005 45,078.00 44,973.71
2 0011204680 CA 100.00 01-Jul-2005 73,000.00 72,844.32
2 0011207194 VA 95.00 01-Jul-2005 146,250.00 145,920.37
2 0011212668 WA 100.00 01-Jul-2005 36,790.00 36,673.81
2 0011213721 CA 100.00 01-Jul-2005 61,000.00 60,855.40
2 0011216831 CA 100.00 01-Jul-2005 65,000.00 64,866.17
2 0011221383 CA 100.00 01-Jul-2005 108,000.00 107,793.03
2 0011221654 FL 100.00 01-Jul-2005 39,819.00 39,764.90
2 0011222746 CA 100.00 01-Jul-2005 64,400.00 64,279.88
2 0011078858 NJ 75.00 01-Jan-2005 382,500.00 378,809.40
2 0011167827 CA 95.00 01-May-2005 370,500.00 368,287.60
2 0011168687 NY 80.00 01-May-2005 169,600.00 168,282.54
2 0011172981 CA 80.00 01-May-2005 312,000.00 311,988.99
2 0011173309 VA 70.00 01-Jun-2005 770,000.00 770,000.00
2 0011183098 MD 72.41 01-Jun-2005 210,000.00 209,198.98
2 0011183896 CA 80.00 01-May-2005 328,000.00 326,443.97
2 0011184932 MA 69.94 01-Jun-2005 121,000.00 120,384.24
2 0011186842 NJ 82.14 01-Jul-2005 230,000.00 228,729.69
2 0011187937 NY 80.00 01-Jun-2005 440,000.00 440,000.00
2 0011189336 GA 80.00 01-Jun-2005 136,000.00 136,000.00
2 0011190873 CA 95.00 01-Jun-2005 570,000.00 568,793.83
2 0011192302 CA 88.14 01-Jun-2005 520,000.00 518,988.45
2 0011196460 CA 70.00 01-Jun-2005 350,000.00 348,929.35
2 0011197056 AZ 90.00 01-Jul-2005 299,700.00 299,159.21
2 0011198159 WA 74.85 01-Jul-2005 375,000.00 373,847.87
2 0011198639 CA 80.00 01-Jun-2005 216,000.00 215,560.40
2 0011201261 MD 80.00 01-Jul-2005 168,000.00 168,000.00
2 0011201532 FL 80.00 01-Jul-2005 180,312.00 179,519.36
2 0011201839 CA 90.00 01-Jul-2005 388,350.00 387,784.68
2 0011202191 IL 80.00 01-Jun-2005 288,000.00 286,512.95
2 0011202343 MD 61.90 01-Jul-2005 195,000.00 194,755.16
2 0011203281 MD 82.73 01-Jul-2005 230,000.00 229,064.47
2 0011204021 VA 90.00 01-Jul-2005 405,000.00 403,587.99
2 0011204676 CA 80.00 01-Jul-2005 292,000.00 291,574.94
2 0011205091 TX 78.89 01-Jul-2005 573,500.00 571,301.97
2 0011205389 WI 68.15 01-Jul-2005 92,000.00 91,599.47
2 0011207190 VA 80.00 01-Jul-2005 780,000.00 778,507.23
2 0011208224 CA 55.30 01-Jul-2005 214,000.00 212,606.43
2 0011208935 CA 60.90 01-Jul-2005 408,000.00 406,332.08
2 0011210622 CA 80.00 01-Jul-2005 236,000.00 235,300.42
2 0011211894 CA 63.80 01-Jul-2005 245,000.00 244,032.77
2 0011212306 WA 80.00 01-Jul-2005 147,160.00 146,491.67
2 0011213260 CA 80.00 01-Jul-2005 684,000.00 684,000.00
2 0011214029 NV 80.00 01-Jul-2005 262,400.00 261,494.27
2 0011214370 AZ 63.35 01-Jul-2005 173,000.00 172,390.78
2 0011215313 IL 80.00 01-Jul-2005 235,250.00 234,750.39
2 0011217877 CA 80.00 01-Jul-2005 312,000.00 312,000.00
2 0011218519 CA 80.00 01-Jul-2005 475,200.00 475,200.00
2 0011219140 CA 80.00 01-Jul-2005 268,000.00 268,000.00
2 0011222450 NC 71.74 01-Jul-2005 350,000.00 348,345.15
2 0011224251 VA 80.00 01-Jul-2005 252,800.00 251,862.13
2 0011226740 CA 80.00 01-Jul-2005 267,920.00 267,920.00
2 0011228811 AZ 80.00 01-Jul-2005 360,000.00 358,578.78
2 0011230617 TX 80.00 01-Jun-2005 132,000.00 131,493.94
2 0011231432 CA 77.55 01-Jul-2005 758,799.00 757,521.89
2 0011231465 CA 70.00 01-Jul-2005 413,000.00 412,462.18
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 0011173107 Loan Paid in Full (1) 10.500% 180 6
1 0011197989 Loan Paid in Full (2) 10.875% 180 4
1 0011201727 Loan Paid in Full (1) 9.990% 180 4
1 0011201805 Loan Paid in Full (1) 6.625% 360 5
1 0011204082 Loan Paid in Full (1) 10.500% 180 5
1 0011207999 Loan Paid in Full (1) 6.950% 360 4
1 0011212490 Loan Paid in Full (1) 7.375% 360 4
1 0011212636 Loan Paid in Full (1) 10.875% 180 4
1 0011225060 Loan Paid in Full (1) 10.750% 180 4
1 0011226076 Loan Paid in Full (1) 10.990% 180 4
1 0011150206 Loan Paid in Full (1) 5.925% 360 6
1 0011155643 Loan Paid in Full (1) 7.150% 360 6
1 0011164712 Loan Paid in Full (1) 7.375% 360 4
1 0011170936 Loan Paid in Full (1) 6.500% 360 5
1 0011187593 Loan Paid in Full (2) 6.250% 360 4
1 0011191511 Loan Paid in Full (1) 8.500% 360 5
1 0011192284 Loan Paid in Full (1) 9.550% 360 4
1 0011192810 Loan Paid in Full (1) 8.125% 360 5
1 0011195074 Loan Paid in Full (1) 7.675% 360 5
1 0011196677 Loan Paid in Full (2) 5.875% 360 5
1 0011197987 Loan Paid in Full (2) 7.400% 360 4
1 0011200637 Loan Paid in Full (1) 6.990% 360 5
1 0011201160 Loan Paid in Full (1) 5.375% 360 5
1 0011201726 Loan Paid in Full (1) 6.250% 360 4
1 0011201939 Loan Paid in Full (1) 5.700% 360 5
1 0011202020 Loan Paid in Full (1) 6.325% 360 4
1 0011202097 Loan Paid in Full (2) 8.475% 360 5
1 0011202687 Loan Paid in Full (1) 7.250% 360 4
1 0011207030 Loan Paid in Full (1) 7.250% 360 4
1 0011207494 Loan Paid in Full 0 7.840% 360 5
1 0011217780 Loan Paid in Full (1) 8.250% 360 4
1 0011221942 Loan Paid in Full (1) 6.150% 360 4
1 0011223583 Loan Paid in Full (1) 7.490% 360 4
1 0011225882 Loan Paid in Full (2) 7.950% 360 4
1 0011226074 Loan Paid in Full (1) 7.990% 360 4
1 0011226943 Loan Paid in Full (2) 8.500% 360 4
1 0011227909 Loan Paid in Full (1) 6.725% 360 4
2 0011155647 Loan Paid in Full (1) 10.750% 180 6
2 0011170377 Loan Paid in Full (1) 9.750% 180 6
2 0011170954 Loan Paid in Full (1) 8.250% 180 5
2 0011172982 Loan Paid in Full (1) 10.875% 180 6
2 0011175986 Loan Paid in Full (1) 10.875% 180 4
2 0011181684 Loan Paid in Full (1) 7.975% 360 6
2 0011190775 Loan Paid in Full (1) 10.875% 180 5
2 0011193817 Loan Paid in Full (1) 10.750% 180 5
2 0011194102 Loan Paid in Full (2) 7.250% 360 5
2 0011194458 Loan Paid in Full (1) 10.500% 180 5
2 0011194527 Loan Paid in Full (1) 10.500% 180 4
2 0011201565 Loan Paid in Full (1) 10.990% 180 4
2 0011204680 Loan Paid in Full (1) 10.250% 180 4
2 0011207194 Loan Paid in Full (1) 9.990% 180 4
2 0011212668 Loan Paid in Full (1) 11.500% 180 4
2 0011213721 Loan Paid in Full (1) 9.750% 180 4
2 0011216831 Loan Paid in Full (1) 10.875% 180 4
2 0011221383 Loan Paid in Full (1) 10.750% 180 4
2 0011221654 Loan Paid in Full (1) 12.500% 180 4
2 0011222746 Loan Paid in Full 1 10.875% 180 4
2 0011078858 Loan Paid in Full (1) 6.800% 360 10
2 0011167827 Loan Paid in Full (2) 6.700% 360 6
2 0011168687 Loan Paid in Full (1) 5.500% 360 6
2 0011172981 Loan Paid in Full (1) 6.125% 360 6
2 0011173309 Loan Paid in Full (1) 6.300% 360 5
2 0011183098 Loan Paid in Full (1) 8.350% 360 5
2 0011183896 Loan Paid in Full (1) 8.050% 360 6
2 0011184932 Loan Paid in Full (1) 6.900% 360 5
2 0011186842 Loan Paid in Full (1) 5.500% 360 4
2 0011187937 Loan Paid in Full (1) 6.990% 360 5
2 0011189336 Loan Paid in Full (1) 7.695% 360 5
2 0011190873 Loan Paid in Full (1) 7.350% 360 5
2 0011192302 Loan Paid in Full (1) 7.625% 360 5
2 0011196460 Loan Paid in Full (1) 5.990% 360 5
2 0011197056 Loan Paid in Full (1) 7.875% 360 4
2 0011198159 Loan Paid in Full (1) 8.500% 360 4
2 0011198639 Loan Paid in Full (1) 7.800% 360 5
2 0011201261 Loan Paid in Full (1) 7.200% 360 4
2 0011201532 Loan Paid in Full (1) 6.700% 360 4
2 0011201839 Loan Paid in Full 0 7.990% 360 4
2 0011202191 Loan Paid in Full 0 6.825% 360 5
2 0011202343 Loan Paid in Full (2) 8.500% 360 4
2 0011203281 Loan Paid in Full (1) 7.250% 360 4
2 0011204021 Loan Paid in Full (1) 7.875% 360 4
2 0011204676 Loan Paid in Full (1) 7.990% 360 4
2 0011205091 Loan Paid in Full (1) 7.400% 360 4
2 0011205389 Loan Paid in Full (1) 6.750% 360 4
2 0011207190 Loan Paid in Full (1) 7.025% 360 4
2 0011208224 Loan Paid in Full (1) 6.740% 360 4
2 0011208935 Loan Paid in Full (1) 7.500% 360 4
2 0011210622 Loan Paid in Full (1) 8.675% 360 4
2 0011211894 Loan Paid in Full (1) 7.250% 360 4
2 0011212306 Loan Paid in Full (1) 6.625% 360 4
2 0011213260 Loan Paid in Full (1) 7.600% 360 4
2 0011214029 Loan Paid in Full (1) 7.925% 360 4
2 0011214370 Loan Paid in Full (1) 7.825% 360 4
2 0011215313 Loan Paid in Full (1) 6.650% 360 4
2 0011217877 Loan Paid in Full (1) 5.990% 360 4
2 0011218519 Loan Paid in Full (1) 7.900% 360 4
2 0011219140 Loan Paid in Full (2) 6.350% 360 4
2 0011222450 Loan Paid in Full (1) 6.325% 360 4
2 0011224251 Loan Paid in Full (1) 8.100% 360 4
2 0011226740 Loan Paid in Full (1) 6.990% 360 4
2 0011228811 Loan Paid in Full (1) 7.250% 360 4
2 0011230617 Loan Paid in Full (1) 8.325% 360 5
2 0011231432 Loan Paid in Full (1) 7.500% 360 4
2 0011231465 Loan Paid in Full 1 8.375% 360 4
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.442% Current Month 25.674% Current Month 2,969.532%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 23.187% N/A Oct-2005 3,483.069% N/A
Nov-2005 25.674% N/A Nov-2005 2,969.532% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.042% Current Month 21.926% Current Month 2,515.946%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 14.388% N/A Oct-2005 2,143.952% N/A
Nov-2005 21.926% N/A Nov-2005 2,515.946% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.284% Current Month 24.217% Current Month 2,798.194%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 21.246% N/A Oct-2005 3,187.102% N/A
Nov-2005 24.217% N/A Nov-2005 2,798.194% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.286% Current Month 14.384% Current Month 1,638.865%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 16.451% N/A Oct-2005 2,424.256% N/A
Nov-2005 14.384% N/A Nov-2005 1,638.865% 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 2.816% Current Month 29.016% Current Month 3,372.086%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 26.253% N/A Oct-2005 3,966.903% N/A
Nov-2005 29.016% N/A Nov-2005 3,372.086% 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.
<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%
1 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A 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>