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
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2005-SD2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-123741-04
Pooling and Servicing Agreement) (Commission 54-2176704
(State or other File Number) 54-2176705
jurisdiction IRS EIN
of Incorporation)
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
On November 25, 2005 a distribution was made to holders of ACE SECURITIES CORP
. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series
2005-SD2 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Asset Backed Pass-Through Certificates,
Series 2005-SD2 Trust, relating to the
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.
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2005-SD2 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Securities Administrator
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 11/25/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Pass-Through Certificates, Series 2005-SD2 Trust,
relating to the November 25, 2005 distribution.
EX-99.1
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Record Date: 10/31/2005
Distribution Date: 11/25/2005
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Series ACE 2005-SD2
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
A-1 004421QD8 SEN 4.43750% 88,501,072.97 338,178.58
M-1 004421QE6 SEN 4.73750% 18,371,000.00 74,944.75
M-2 004421QF3 SEN 5.53750% 10,636,000.00 50,716.73
M-3 004421QG1 SEN 7.03750% 5,640,000.00 34,178.79
M-4 004421QH9 SEN 7.03750% 3,142,000.00 19,040.74
M-5 004421QJ5 SEN 7.03750% 2,417,000.00 14,647.19
CE-1 ACE05SD2CE1 SEN 0.00000% 10,454,420.55 0.00
CE-2 ACE05SD2CE2 SEN 0.00000% 0.00 30,470.95
P ACE05SD2P SEN 0.00000% 100.00 53,799.96
R ACE5SD2R1 SEN 0.00000% 0.00 0.00
Totals 139,161,593.52 615,977.69
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 5,219,208.62 0.00 83,281,864.35 5,557,387.20 0.00
M-1 0.00 0.00 18,371,000.00 74,944.75 0.00
M-2 0.00 0.00 10,636,000.00 50,716.73 0.00
M-3 0.00 0.00 5,640,000.00 34,178.79 0.00
M-4 0.00 0.00 3,142,000.00 19,040.74 0.00
M-5 0.00 0.00 2,417,000.00 14,647.19 0.00
CE-1 0.00 0.00 10,904,721.23 0.00 0.00
CE-2 0.00 0.00 0.00 30,470.95 0.00
P 0.00 0.00 100.00 53,799.96 0.00
R 0.00 0.00 0.00 0.00 0.00
Totals 5,219,208.62 0.00 134,392,685.58 5,835,186.31 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
This report has been compiled from information provided to Wells Fargo Bank, N.A. by various
third parties, which may include the Servicer, Master Servicer, Special Servicer and others.
Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received
from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly
disclaims any responsibility for the accuracy or completeness of information furnished by
third parties.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
A-1 113,125,000.00 88,501,072.97 0.00 5,219,208.62 0.00 0.00
M-1 18,371,000.00 18,371,000.00 0.00 0.00 0.00 0.00
M-2 10,636,000.00 10,636,000.00 0.00 0.00 0.00 0.00
M-3 5,640,000.00 5,640,000.00 0.00 0.00 0.00 0.00
M-4 3,142,000.00 3,142,000.00 0.00 0.00 0.00 0.00
M-5 2,417,000.00 2,417,000.00 0.00 0.00 0.00 0.00
CE-1 7,818,982.03 10,454,420.55 0.00 0.00 0.00 0.00
CE-2 0.00 0.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 161,150,082.03 139,161,593.52 0.00 5,219,208.62 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
A-1 5,219,208.62 83,281,864.35 0.73619328 5,219,208.62
M-1 0.00 18,371,000.00 1.00000000 0.00
M-2 0.00 10,636,000.00 1.00000000 0.00
M-3 0.00 5,640,000.00 1.00000000 0.00
M-4 0.00 3,142,000.00 1.00000000 0.00
M-5 0.00 2,417,000.00 1.00000000 0.00
CE-1 0.00 10,904,721.23 1.39464718 0.00
CE-2 0.00 0.00 0.00000000 0.00
P 0.00 100.00 1.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 5,219,208.62 134,392,685.58 0.83395977 5,219,208.62
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
A-1 113,125,000.00 782.32992681 0.00000000 46.13665078 0.00000000
M-1 18,371,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 10,636,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 5,640,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 3,142,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 2,417,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE-1 7,818,982.03 1337.05647486 0.00000000 0.00000000 0.00000000
CE-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 46.13665078 736.19327602 0.73619328 46.13665078
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE-1 0.00000000 0.00000000 1,394.64717890 1.39464718 0.00000000
CE-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 113,125,000.00 4.43750% 88,501,072.97 338,178.58 0.00 0.00
M-1 18,371,000.00 4.73750% 18,371,000.00 74,944.75 0.00 0.00
M-2 10,636,000.00 5.53750% 10,636,000.00 50,716.73 0.00 0.00
M-3 5,640,000.00 7.03750% 5,640,000.00 34,178.79 0.00 0.00
M-4 3,142,000.00 7.03750% 3,142,000.00 19,040.74 0.00 0.00
M-5 2,417,000.00 7.03750% 2,417,000.00 14,647.19 0.00 0.00
CE-1 7,818,982.03 0.00000% 10,454,420.55 0.00 0.00 0.00
CE-2 0.00 0.00000% 0.00 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 161,150,082.03 531,706.78 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00 0.00 338,178.58 0.00 83,281,864.35
M-1 0.00 0.00 74,944.75 0.00 18,371,000.00
M-2 0.00 0.00 50,716.73 0.00 10,636,000.00
M-3 0.00 0.00 34,178.79 0.00 5,640,000.00
M-4 0.00 0.00 19,040.74 0.00 3,142,000.00
M-5 0.00 0.00 14,647.19 0.00 2,417,000.00
CE-1 0.00 0.00 0.00 0.00 10,904,721.23
CE-2 0.00 0.00 30,470.95 0.00 0.00
P 0.00 0.00 53,799.96 0.00 100.00
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 615,977.69 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 113,125,000.00 4.43750% 782.32992681 2.98942391 0.00000000 0.00000000
M-1 18,371,000.00 4.73750% 1000.00000000 4.07951391 0.00000000 0.00000000
M-2 10,636,000.00 5.53750% 1000.00000000 4.76840259 0.00000000 0.00000000
M-3 5,640,000.00 7.03750% 1000.00000000 6.06006915 0.00000000 0.00000000
M-4 3,142,000.00 7.03750% 1000.00000000 6.06007002 0.00000000 0.00000000
M-5 2,417,000.00 7.03750% 1000.00000000 6.06007034 0.00000000 0.00000000
CE-1 7,818,982.03 0.00000% 1337.05647486 0.00000000 0.00000000 0.00000000
CE-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) Per $1 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 0.00000000 2.98942391 0.00000000 736.19327602
M-1 0.00000000 0.00000000 4.07951391 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 4.76840259 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 6.06006915 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 6.06007002 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 6.06007034 0.00000000 1000.00000000
CE-1 0.00000000 0.00000000 0.00000000 0.00000000 1394.64717890
CE-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 537999.60000000 0.00000000 1000.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 5,869,183.06
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 402,333.93
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 30,470.95
Total Deposits 6,301,987.94
Withdrawals
Reimbursement for Servicer Advances 402,710.07
Payment of Service Fee 64,091.56
Payment of Interest and Principal 5,835,186.31
Total Withdrawals (Pool Distribution Amount) 6,301,987.94
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 55,683.88
Credit Risk Manager Fee- Risk Management Group, LLC 2,319.36
Master Servicing Fee 6,088.32
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 64,091.56
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 1,000.00 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 73 0 0 73
4,879,958.17 0.00 0.00 4,879,958.17
30 Days 117 20 1 0 138
10,619,291.22 1,152,684.98 42,566.53 0.00 11,814,542.73
60 Days 79 19 1 0 99
7,208,513.60 1,575,323.28 79,799.03 0.00 8,863,635.91
90 Days 47 8 11 0 66
4,802,427.97 590,368.86 1,111,773.83 0.00 6,504,570.66
120 Days 30 16 22 0 68
1,953,796.60 1,129,579.73 2,577,815.29 0.00 5,661,191.62
150 Days 14 20 20 0 54
1,428,967.03 1,558,233.94 2,490,787.48 0.00 5,477,988.45
180+ Days 34 65 27 1 127
2,614,852.45 5,192,348.11 2,496,752.33 62,582.22 10,366,535.11
Totals 321 221 82 1 625
28,627,848.87 16,078,497.07 8,799,494.49 62,582.22 53,568,422.65
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 5.080028% 0.000000% 0.000000% 5.080028%
3.628109% 0.000000% 0.000000% 3.628109%
30 Days 8.141962% 1.391788% 0.069589% 0.000000% 9.603340%
7.895139% 0.856988% 0.031647% 0.000000% 8.783774%
60 Days 5.497564% 1.322199% 0.069589% 0.000000% 6.889353%
5.359324% 1.171208% 0.059328% 0.000000% 6.589860%
90 Days 3.270703% 0.556715% 0.765484% 0.000000% 4.592902%
3.570468% 0.438922% 0.826572% 0.000000% 4.835962%
120 Days 2.087683% 1.113431% 1.530967% 0.000000% 4.732081%
1.452592% 0.839810% 1.916532% 0.000000% 4.208934%
150 Days 0.974252% 1.391788% 1.391788% 0.000000% 3.757829%
1.062396% 1.158502% 1.851829% 0.000000% 4.072728%
180+ Days 2.366040% 4.523312% 1.878914% 0.069589% 8.837857%
1.944068% 3.860362% 1.856264% 0.046528% 7.707222%
Totals 22.338205% 15.379262% 5.706333% 0.069589% 43.493389%
21.283987% 11.953903% 6.542172% 0.046528% 39.826590%
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 69 0 0 69
4,487,672.93 0.00 0.00 4,487,672.93
30 Days 85 19 1 0 105
4,859,648.71 1,104,810.60 42,566.53 0.00 6,007,025.84
60 Days 63 14 1 0 78
4,358,038.98 791,630.34 79,799.03 0.00 5,229,468.35
90 Days 37 6 5 0 48
3,031,388.88 350,459.92 403,959.42 0.00 3,785,808.22
120 Days 27 13 13 0 53
1,505,329.61 778,750.09 1,049,562.40 0.00 3,333,642.10
150 Days 12 16 11 0 39
562,984.64 1,037,691.16 756,600.32 0.00 2,357,276.12
180+ Days 31 49 18 1 99
2,296,537.98 4,226,650.21 1,168,397.02 62,582.22 7,754,167.43
Totals 255 186 49 1 491
16,613,928.80 12,777,665.25 3,500,884.72 62,582.22 32,955,060.99
0-29 Days 6.117021% 0.000000% 0.000000% 6.117021%
5.720339% 0.000000% 0.000000% 5.720339%
30 Days 7.535461% 1.684397% 0.088652% 0.000000% 9.308511%
6.194488% 1.408278% 0.054259% 0.000000% 7.657025%
60 Days 5.585106% 1.241135% 0.088652% 0.000000% 6.914894%
5.555097% 1.009074% 0.101718% 0.000000% 6.665889%
90 Days 3.280142% 0.531915% 0.443262% 0.000000% 4.255319%
3.864045% 0.446724% 0.514918% 0.000000% 4.825687%
120 Days 2.393617% 1.152482% 1.152482% 0.000000% 4.698582%
1.918811% 0.992656% 1.337854% 0.000000% 4.249321%
150 Days 1.063830% 1.418440% 0.975177% 0.000000% 3.457447%
0.717624% 1.322722% 0.964422% 0.000000% 3.004768%
180+ Days 2.748227% 4.343972% 1.595745% 0.088652% 8.776596%
2.927347% 5.387619% 1.489330% 0.079772% 9.884068%
Totals 22.606383% 16.489362% 4.343972% 0.088652% 43.528369%
21.177412% 16.287411% 4.462501% 0.079772% 42.007097%
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 4 0 0 4
392,285.24 0.00 0.00 392,285.24
30 Days 32 1 0 0 33
5,759,642.51 47,874.38 0.00 0.00 5,807,516.89
60 Days 16 5 0 0 21
2,850,474.62 783,692.94 0.00 0.00 3,634,167.56
90 Days 10 2 6 0 18
1,771,039.09 239,908.94 707,814.41 0.00 2,718,762.44
120 Days 3 3 9 0 15
448,466.99 350,829.64 1,528,252.89 0.00 2,327,549.52
150 Days 2 4 9 0 15
865,982.39 520,542.78 1,734,187.16 0.00 3,120,712.33
180+ Days 3 16 9 0 28
318,314.47 965,697.90 1,328,355.31 0.00 2,612,367.68
Totals 66 35 33 0 134
12,013,920.07 3,300,831.82 5,298,609.77 0.00 20,613,361.66
0-29 Days 1.294498% 0.000000% 0.000000% 1.294498%
0.699847% 0.000000% 0.000000% 0.699847%
30 Days 10.355987% 0.323625% 0.000000% 0.000000% 10.679612%
10.275352% 0.085409% 0.000000% 0.000000% 10.360762%
60 Days 5.177994% 1.618123% 0.000000% 0.000000% 6.796117%
5.085321% 1.398129% 0.000000% 0.000000% 6.483450%
90 Days 3.236246% 0.647249% 1.941748% 0.000000% 5.825243%
3.159580% 0.428004% 1.262759% 0.000000% 4.850343%
120 Days 0.970874% 0.970874% 2.912621% 0.000000% 4.854369%
0.800077% 0.625889% 2.726443% 0.000000% 4.152409%
150 Days 0.647249% 1.294498% 2.912621% 0.000000% 4.854369%
1.544935% 0.928662% 3.093835% 0.000000% 5.567432%
180+ Days 0.970874% 5.177994% 2.912621% 0.000000% 9.061489%
0.567881% 1.722830% 2.369821% 0.000000% 4.660532%
Totals 21.359223% 11.326861% 10.679612% 0.000000% 43.365696%
21.433147% 5.888770% 9.452858% 0.000000% 36.774775%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 402,333.93
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current
Original $ Original % Current $ Current % Class% Prepayment%
<s> <c> <c> <c> <c> <c> <c> <c>
Class M-1 29,654,082.03 18.40153083% 32,739,821.23 24.36130696% 13.669640% 0.000000%
Class M-2 19,018,082.03 11.80147214% 22,103,821.23 16.44718736% 7.914120% 0.000000%
Class M-3 13,378,082.03 8.30162905% 16,463,821.23 12.25053124% 4.196656% 0.000000%
Class M-4 10,236,082.03 6.35189378% 13,321,821.23 9.91260685% 2.337924% 0.000000%
Class CE-1 100.00 0.00006205% 100.00 0.00007441% 8.114072% 0.000000%
Class P 0.00 0.00000000% 0.00 0.00000000% 0.000074% 0.000000%
Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
REO Detail - All Mortgage Loans in REO during Current Period
Summary 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 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 1 May-05 0.000%
Original Principal Balance 63,640.00 Jun-05 0.000%
Current Principal Balance 62,582.22 Jul-05 0.000%
Aug-05 0.043%
Sep-05 0.044%
Oct-05 0.045%
Nov-05 0.047%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Group 1 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 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 1 May-05 0.000%
Original Principal Balance 63,640.00 Jun-05 0.000%
Current Principal Balance 62,582.22 Jul-05 0.000%
Aug-05 0.074%
Sep-05 0.076%
Oct-05 0.078%
Nov-05 0.080%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Group 2 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 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>
Group 1 0110408800 Aug-2005 01-May-2001 MI 74.00 63,640.00
REO Loan Detail - All Mortgage Loans in REO during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
Group 1 0110408800 62,582.22 01-Jul-2004 15 10.850% 2,705.80
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 32 Dec-04 0.000%
Original Principal Balance 3,376,986.38 Jan-05 0.000%
Current Principal Balance 3,293,366.95 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 82 May-05 0.000%
Original Principal Balance 9,050,884.38 Jun-05 0.000%
Current Principal Balance 8,799,494.49 Jul-05 0.000%
Aug-05 0.559%
Sep-05 2.586%
Oct-05 4.570%
Nov-05 6.542%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Group 1 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 16 Dec-04 0.000%
Original Principal Balance 1,186,636.38 Jan-05 0.000%
Current Principal Balance 1,120,705.86 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 49 May-05 0.000%
Original Principal Balance 3,682,075.38 Jun-05 0.000%
Current Principal Balance 3,500,884.72 Jul-05 0.000%
Aug-05 0.974%
Sep-05 2.085%
Oct-05 3.879%
Nov-05 4.463%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Group 2 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 16 Dec-04 0.000%
Original Principal Balance 2,190,350.00 Jan-05 0.000%
Current Principal Balance 2,172,661.09 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 33 May-05 0.000%
Original Principal Balance 5,368,809.00 Jun-05 0.000%
Current Principal Balance 5,298,609.77 Jul-05 0.000%
Aug-05 0.000%
Sep-05 3.268%
Oct-05 5.523%
Nov-05 9.453%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
Group 1 0110206231 Sep-2005 01-Feb-1998 NY 90.00 60,300.00
Group 1 0110260040 Oct-2005 01-Jun-1999 CA 90.00 247,500.00
Group 1 0110260429 Oct-2005 01-Oct-1994 IL 68.12 47,000.00
Group 1 0110260741 Nov-2005 27-May-2001 CT 62.50 79,998.20
Group 1 0110286965 Oct-2005 26-Jan-2001 TX 94.20 65,000.00
Group 1 0110287013 Nov-2005 14-May-2000 TX 88.10 49,248.18
Group 1 0110287165 Nov-2005 01-May-2001 IL 85.00 122,400.00
Group 1 0110287221 Oct-2005 24-Dec-2003 TX 88.07 66,052.00
Group 1 0110331842 Oct-2005 01-Sep-2004 AZ 100.00 16,400.00
Group 1 0110367609 Nov-2005 07-Nov-1998 IN 109.66 65,794.00
Group 1 0110367948 Oct-2005 01-Dec-2000 OH 82.94 70,500.00
Group 1 0110367954 Nov-2005 15-Oct-2000 OH 96.12 52,866.00
Group 1 0110368391 Oct-2005 11-Aug-1999 PA 89.74 40,830.00
Group 1 0110368887 Oct-2005 05-Aug-1999 MI 93.03 41,863.00
Group 1 0110369130 Oct-2005 02-Apr-2000 OH 87.55 70,481.00
Group 1 0110408621 Aug-2005 14-Oct-1998 MD 80.00 48,800.00
Group 1 0110408707 Aug-2005 15-Jul-1998 AL 80.00 192,000.00
Group 1 0110408736 Sep-2005 20-Mar-2002 SC 53.19 25,000.00
Group 1 0110408821 Aug-2005 01-Dec-2001 NY 85.00 153,000.00
Group 1 0110408824 Nov-2005 22-Jun-2001 NY 80.00 63,200.00
Group 1 0110408825 Oct-2005 15-Aug-2001 PA 80.00 65,680.00
Group 1 0110408864 Oct-2005 25-Nov-1999 PA 85.00 35,700.00
Group 1 0110408933 Sep-2005 04-Sep-2000 WI 70.00 45,500.00
Group 1 0110408957 Oct-2005 14-Dec-2002 PA 77.78 70,000.00
Group 1 0110408960 Nov-2005 01-Aug-2002 IL 82.32 78,200.00
Group 1 0110409067 Sep-2005 07-Mar-2001 PA 85.00 43,775.00
Group 1 0110409073 Aug-2005 16-Feb-2001 KS 100.00 50,000.00
Group 1 0110409093 Oct-2005 15-Dec-2000 IL 100.00 49,000.00
Group 1 0110409133 Oct-2005 20-Nov-2000 PA 80.00 52,000.00
Group 1 0110409146 Aug-2005 01-May-2000 MD 75.00 51,750.00
Group 1 0110409823 Sep-2005 24-Jul-2002 SC 90.00 62,550.00
Group 1 0110409882 Nov-2005 15-Feb-2002 SC 90.00 121,500.00
Group 1 0110410023 Oct-2005 08-Jun-2002 MN 80.00 74,400.00
Group 1 0110410055 Nov-2005 24-Feb-2002 IA 80.00 119,200.00
Group 1 0110410089 Nov-2005 01-Aug-2002 IL 75.00 42,750.00
Group 1 0110410369 Aug-2005 01-Jun-2002 NY 75.00 30,000.00
Group 1 0110410977 Sep-2005 21-Apr-2003 CT 80.25 130,000.00
Group 1 0110411322 Aug-2005 01-Mar-2002 MN 90.00 189,000.00
Group 1 0110411339 Nov-2005 07-Feb-2002 NC 100.00 45,000.00
Group 1 0110436353 Oct-2005 01-Jan-2005 NC 90.00 186,858.00
Group 1 0110463726 Nov-2005 01-Mar-2005 NY 100.00 80,000.00
Group 1 0110463975 Nov-2005 01-Apr-2005 FL 95.00 25,800.00
Group 1 0110465862 Nov-2005 01-May-2004 OH 85.00 113,900.00
Group 1 0110465863 Oct-2005 01-Jan-2005 TN 69.92 86,000.00
Group 1 0110465888 Oct-2005 01-Jan-2005 OK 78.17 98,500.00
Group 1 0110475890 Nov-2005 01-Jan-2005 MA 100.00 79,980.00
Group 1 0110475905 Oct-2005 01-Nov-2003 NY 95.00 22,500.00
Group 1 0110475910 Oct-2005 01-Aug-2004 GA 100.00 7,500.00
Group 1 0110475915 Nov-2005 01-Dec-2004 CA 100.00 46,800.00
Group 2 0110172832 Nov-2005 01-Aug-2003 FL 80.00 141,600.00
Group 2 0110173065 Sep-2005 01-Jul-2002 ID 80.00 90,720.00
Group 2 0110254380 Oct-2005 01-Apr-2004 CT 85.00 188,400.00
Group 2 0110259584 Sep-2005 01-Jun-2003 CO 80.00 144,000.00
Group 2 0110287125 Nov-2005 01-Sep-2000 TX 79.97 84,850.00
Group 2 0110287251 Oct-2005 01-Oct-2002 KY 144.91 615,854.00
Group 2 0110338659 Oct-2005 01-Oct-2004 OH 80.00 111,920.00
Group 2 0110338871 Oct-2005 01-Oct-2004 PA 80.00 55,200.00
Group 2 0110370099 Nov-2005 01-Jul-1999 MI 65.00 29,900.00
Group 2 0110401680 Sep-2005 01-Jan-2005 CA 77.14 113,400.00
Group 2 0110408814 Nov-2005 01-Aug-2002 PA 85.15 140,500.00
Group 2 0110408875 Nov-2005 01-Nov-2002 MI 98.68 150,000.00
Group 2 0110408958 Oct-2005 17-Nov-2002 PA 90.00 99,000.00
Group 2 0110423504 Oct-2005 01-Nov-2004 NY 75.00 273,750.00
Group 2 0110426348 Oct-2005 01-Aug-2004 CO 77.55 411,000.00
Group 2 0110432520 Nov-2005 01-Feb-2005 VA 75.00 315,000.00
Group 2 0110433467 Sep-2005 01-May-2004 IL 90.00 184,500.00
Group 2 0110433469 Sep-2005 01-Sep-2004 FL 85.00 109,650.00
Group 2 0110433481 Nov-2005 01-May-2004 IL 84.97 307,600.00
Group 2 0110433483 Oct-2005 01-May-2004 IN 90.00 118,800.00
Group 2 0110433486 Sep-2005 01-Sep-2004 NC 85.00 57,375.00
Group 2 0110436346 Oct-2005 01-Dec-2004 TX 80.00 104,000.00
Group 2 0110436357 Sep-2005 01-Jan-2005 CA 85.00 391,000.00
Group 2 0110465869 Oct-2005 01-Jun-2004 IL 89.34 109,890.00
Group 2 0110465874 Nov-2005 01-Feb-2004 VA 90.00 135,000.00
Group 2 0110475937 Nov-2005 01-Jan-2005 GA 80.00 100,800.00
Group 2 0110475938 Nov-2005 01-Jan-2005 CA 95.00 227,050.00
Group 2 0110475946 Nov-2005 01-Mar-2005 OH 80.00 54,400.00
Group 2 0110475949 Nov-2005 01-Feb-2005 GA 90.00 196,200.00
Group 2 0110475954 Nov-2005 01-Dec-2004 TN 85.00 70,550.00
Group 2 0110475960 Nov-2005 01-Feb-2005 MI 85.00 55,250.00
Group 2 0110475970 Nov-2005 01-Jun-2004 CA 75.00 131,250.00
Group 2 0110480690 Nov-2005 01-Mar-2005 TN 80.00 50,400.00
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
Group 1 0110206231 57,965.04 01-Apr-2003 29 10.000% 2,296.25
Group 1 0110260040 229,751.14 01-May-2005 4 7.500% 6,683.78
Group 1 0110260429 40,956.91 01-May-2005 4 9.750% 1,581.25
Group 1 0110260741 63,400.92 27-May-2005 4 12.050% 3,661.38
Group 1 0110286965 63,736.07 26-Apr-2005 5 12.000% 3,088.15
Group 1 0110287013 48,501.16 14-May-2005 4 9.900% 1,927.93
Group 1 0110287165 117,087.59 01-Jun-2005 3 7.500% 3,483.37
Group 1 0110287221 63,336.30 24-Apr-2005 5 10.000% 2,529.32
Group 1 0110331842 16,372.09 01-Mar-2005 6 12.875% 846.48
Group 1 0110367609 54,751.71 07-Jun-2005 3 11.750% 2,567.91
Group 1 0110367948 68,975.05 01-May-2005 4 9.990% 3,272.88
Group 1 0110367954 49,153.52 15-Apr-2005 5 10.740% 2,516.64
Group 1 0110368391 36,674.37 11-Apr-2005 5 11.000% 1,925.40
Group 1 0110368887 41,516.95 05-May-2005 4 6.999% 1,121.21
Group 1 0110369130 71,841.96 02-Apr-2005 5 9.000% 2,542.23
Group 1 0110408621 40,801.61 14-Jan-2005 8 8.640% 1,386.03
Group 1 0110408707 157,309.04 15-Apr-2005 5 8.250% 5,141.30
Group 1 0110408736 22,426.47 20-May-2005 4 10.800% 966.17
Group 1 0110408821 150,760.51 01-Nov-2004 10 11.000% 6,614.23
Group 1 0110408824 53,749.80 22-May-2005 4 9.500% 2,024.48
Group 1 0110408825 63,814.64 15-Mar-2005 6 8.990% 2,264.52
Group 1 0110408864 32,459.42 25-Jun-2004 14 9.850% 1,267.03
Group 1 0110408933 44,200.91 04-Mar-2005 6 10.240% 1,798.70
Group 1 0110408957 68,593.32 14-Jul-2004 14 6.375% 1,688.73
Group 1 0110408960 77,155.39 01-Oct-2004 11 9.990% 3,063.70
Group 1 0110409067 42,743.35 07-Apr-2005 5 10.000% 1,696.79
Group 1 0110409073 46,786.48 16-Nov-2004 10 11.200% 2,090.56
Group 1 0110409093 42,445.36 15-Sep-2004 12 10.700% 1,803.70
Group 1 0110409133 50,780.81 20-Jan-2005 8 11.050% 2,240.70
Group 1 0110409146 50,739.83 01-Dec-2004 9 12.450% 2,532.48
Group 1 0110409823 61,344.21 24-Apr-2005 4 8.740% 2,114.80
Group 1 0110409882 112,015.08 15-Jun-2005 3 9.050% 4,000.08
Group 1 0110410023 72,871.76 08-May-2005 4 9.700% 2,804.09
Group 1 0110410055 116,954.26 24-Mar-2005 6 9.550% 4,429.61
Group 1 0110410089 40,319.96 01-Jun-2005 3 11.150% 1,792.71
Group 1 0110410369 29,574.89 01-Sep-2004 12 9.900% 1,161.93
Group 1 0110410977 127,301.92 21-Apr-2005 5 7.500% 3,727.50
Group 1 0110411322 186,264.62 01-Jan-2005 9 9.990% 7,387.71
Group 1 0110411339 42,566.53 07-Jul-2005 1 11.990% 1,232.01
Group 1 0110436353 186,326.41 01-May-2005 4 8.875% 6,494.38
Group 1 0110463726 79,799.03 01-Jul-2005 2 9.475% 2,400.92
Group 1 0110463975 25,724.21 01-Apr-2005 5 12.775% 1,322.12
Group 1 0110465862 113,233.08 01-May-2005 4 9.750% 4,361.91
Group 1 0110465863 85,494.28 01-Mar-2005 6 6.875% 2,261.82
Group 1 0110465888 98,204.22 01-Apr-2005 5 7.490% 2,857.99
Group 1 0110475890 79,785.08 01-Jun-2005 3 10.500% 3,336.26
Group 1 0110475905 20,575.36 01-Apr-2005 5 12.240% 1,004.14
Group 1 0110475910 7,233.56 01-Mar-2005 6 12.249% 351.86
Group 1 0110475915 46,508.54 01-May-2005 4 11.990% 2,232.40
Group 2 0110172832 140,719.65 01-Jun-2004 15 10.500% 5,573.55
Group 2 0110173065 89,600.43 01-Feb-2004 19 10.250% 3,648.70
Group 2 0110254380 188,400.00 01-May-2005 4 6.200% 4,474.50
Group 2 0110259584 141,260.21 01-May-2005 4 9.375% 4,994.31
Group 2 0110287125 83,465.58 01-Apr-2005 5 13.550% 4,583.58
Group 2 0110287251 578,697.31 17-Apr-2005 5 8.000% 18,404.18
Group 2 0110338659 111,428.11 01-May-2005 4 9.100% 3,988.25
Group 2 0110338871 54,994.97 01-Apr-2005 5 9.250% 2,003.92
Group 2 0110370099 28,755.29 01-Jun-2005 3 11.750% 1,347.05
Group 2 0110401680 113,364.19 01-Apr-2005 5 6.250% 2,716.00
Group 2 0110408814 136,619.33 01-Jun-2005 3 10.625% 5,690.86
Group 2 0110408875 147,600.40 01-Jan-2005 8 12.000% 6,306.60
Group 2 0110408958 97,788.64 17-May-2005 4 11.750% 4,598.31
Group 2 0110423504 273,413.72 01-Dec-2004 9 8.450% 9,097.84
Group 2 0110426348 408,129.62 01-May-2005 4 7.950% 12,650.42
Group 2 0110432520 314,423.48 01-May-2005 4 9.900% 12,361.48
Group 2 0110433467 182,880.19 01-Mar-2005 6 7.499% 5,324.60
Group 2 0110433469 109,078.25 01-May-2005 4 8.990% 3,858.63
Group 2 0110433481 304,351.00 01-Jun-2005 3 7.625% 9,035.39
Group 2 0110433483 117,513.94 01-Jun-2005 3 7.499% 3,429.79
Group 2 0110433486 57,059.01 01-Apr-2005 5 7.990% 1,779.45
Group 2 0110436346 103,414.35 01-May-2005 4 6.375% 2,531.48
Group 2 0110436357 389,885.42 01-Apr-2005 5 7.750% 11,760.56
Group 2 0110465869 109,040.32 01-Mar-2005 6 7.499% 3,174.79
Group 2 0110465874 134,018.92 01-Mar-2005 6 9.490% 5,014.52
Group 2 0110475937 100,443.01 01-Apr-2005 5 6.650% 2,588.24
Group 2 0110475938 226,306.32 01-Apr-2005 5 7.050% 6,203.57
Group 2 0110475946 54,330.23 01-May-2005 4 10.200% 2,204.90
Group 2 0110475949 195,892.40 01-Mar-2005 6 7.250% 5,533.30
Group 2 0110475954 70,285.20 01-Jun-2005 3 9.200% 2,559.52
Group 2 0110475960 55,189.28 01-Mar-2005 6 8.990% 1,959.32
Group 2 0110475970 129,971.35 01-Apr-2005 5 6.750% 3,399.99
Group 2 0110480690 50,289.65 01-Jun-2005 3 9.490% 1,883.77
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 8.421376%
Weighted Average Net Coupon 7.941211%
Weighted Average Pass-Through Rate 7.868711%
Weighted Average Maturity(Stepdown Calculation) 293
Beginning Scheduled Collateral Loan Count 1,476
Number Of Loans Paid In Full 39
Ending Scheduled Collateral Loan Count 1,437
Beginning Scheduled Collateral Balance 139,161,593.52
Ending Scheduled Collateral Balance 134,392,712.53
Ending Actual Collateral Balance at 31-Oct-2005 134,504,167.10
Monthly P&I Constant 1,144,461.44
Special Servicing Fee 0.00
Prepayment Penalties 30,470.95
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 167,851.30
Unscheduled Principal 4,601,029.69
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 450,300.68
Overcollateralized reduction Amount 0.00
Specified O/C Amount 11,763,955.99
Overcollateralized Amount 10,904,721.23
Overcollateralized Deficiency Amount 859,234.76
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 450,300.68
Excess Cash Amount 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Coupon Rate 8.421376%
Weighted Average Net Rate 7.941211%
Weighted Average Pass Through Rate 7.868711%
Weighted Average Maturity 293
Record Date 10/31/2005
Principal and Interest Constant 1,144,461.44
Beginning Loan Count 1,476
Loans Paid in Full 39
Ending Loan Count 1,437
Beginning Scheduled Balance 139,161,593.52
Ending Scheduled Balance 134,392,712.53
Ending Actual Balance at 31-Oct-2005 134,504,167.10
Scheduled Principal 167,851.30
Unscheduled Principal 4,601,029.69
Scheduled Interest 976,610.14
Servicing Fee 55,683.88
Master Servicing Fee 6,088.32
Trustee Fee 0.00
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 2,319.36
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 912,518.58
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Special Servicing Fee 0.00
Prepayment Penalties 30,470.95
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 450,300.68
Overcollateralized Reduction Amount 0.00
Specified O/C Amount 11,763,955.99
Overcollateralized Amount 10,904,721.23
Overcollateralized Deficiency Amount 859,234.76
Base Overcollateralization Amount 0.00
Prepayment Detail - Prepayments during Current Period
Summary Loans Paid In Full Repurchased Loans
Original Current Original Current
Principal Principal Principal Principal
Group Count Balance Balance Count Balance Balance
<s> <c> <c> <c> <c> <c> <c>
Group 1 27 2,386,961.00 2,193,357.67 0 0.00 0.00
Group 2 12 2,446,050.00 2,425,699.11 0 0.00 0.00
Total 39 4,833,011.00 4,619,056.78 0 0.00 0.00
Prepayment Detail - Prepayments during Current Period (continued)
Summary Substitution Loans Liquidated Loans Curtailments
Original Current Original Current
Principal Principal Principal Principal Curtailment
Group Count Balance Balance Count Balance Balance Amount
<s> <c> <c> <c> <c> <c> <c> <c>
Group 1 0 0.00 0.00 0 0.00 0.00 (17,488.26)
Group 2 0 0.00 0.00 0 0.00 0.00 3,842.34
Total 0 0.00 0.00 0 0.00 0.00 (13,645.92)
Prepayment Loan Detail - Prepayments during Current Period
First Original
Loan LTV at Payment Principal Prepayment
Group Number State Origination Date Balance Amount
<s> <c> <c> <c> <c> <c> <c>
Group 1 0110260017 CA 79.38 01-Oct-1999 385,000.00 359,109.37
Group 1 0110260062 OH 90.00 01-Jul-1999 64,800.00 62,058.21
Group 1 0110260608 AZ 73.81 01-Jan-1994 310,000.00 217,652.22
Group 1 0110367626 KY 78.25 15-Feb-1998 56,339.00 57,169.76
Group 1 0110367751 PA 100.00 10-Jan-2001 18,422.00 16,054.05
Group 1 0110368471 PA 100.00 11-Aug-1998 6,285.00 139.04
Group 1 0110368835 MI 90.86 05-Dec-1998 49,974.00 41,979.22
Group 1 0110368904 MI 76.98 20-Jul-1998 119,320.00 111,193.09
Group 1 0110369046 OH 95.92 11-Dec-1998 34,531.00 29,785.20
Group 1 0110369491 OH 100.00 10-Dec-1996 15,838.00 2,997.25
Group 1 0110370034 TX 76.80 01-Jul-1999 96,000.00 90,920.43
Group 1 0110407752 CA 85.00 01-Aug-2003 186,150.00 182,083.26
Group 1 0110408618 NC 85.00 05-May-1999 80,750.00 71,619.84
Group 1 0110408866 NY 100.00 14-Nov-1999 54,600.00 52,399.14
Group 1 0110408975 DE 86.02 18-Mar-2002 160,000.00 157,489.77
Group 1 0110409202 SC 83.13 01-Aug-2004 66,500.00 64,223.23
Group 1 0110411179 NY 100.00 01-Jun-2002 40,000.00 39,103.88
Group 1 0110423548 NY 100.00 01-Oct-2004 105,000.00 104,429.28
Group 1 0110423582 SC 100.00 01-Sep-2004 17,880.00 17,386.02
Group 1 0110423619 IL 95.00 01-May-2004 6,900.00 6,275.50
Group 1 0110423629 AZ 95.00 01-Nov-2004 15,375.00 14,480.00
Group 1 0110426289 GA 80.00 01-Dec-2004 164,000.00 162,321.93
Group 1 0110426377 CO 60.26 01-May-2004 94,000.00 92,771.73
Group 1 0110433478 NY 79.17 01-Aug-2004 76,000.00 75,326.57
Group 1 0110435167 IL 95.00 01-Dec-2004 27,297.00 26,507.82
Group 1 0110464787 NY 100.00 01-Apr-2005 107,000.00 106,702.44
Group 1 0110475918 CA 100.00 01-Aug-2004 29,000.00 28,170.28
Group 2 0110370066 ID 90.00 01-Jun-1999 54,000.00 50,940.49
Group 2 0110407610 WI 80.00 01-Nov-2004 380,000.00 378,212.04
Group 2 0110407812 FL 90.00 01-Feb-2003 56,700.00 55,746.97
Group 2 0110426281 TX 95.00 01-Nov-2004 95,950.00 94,875.97
Group 2 0110426328 FL 95.00 01-Jan-2005 147,250.00 145,869.62
Group 2 0110426338 NV 75.00 01-Oct-2004 226,500.00 226,297.44
Group 2 0110426360 CA 85.00 01-May-2004 224,400.00 224,384.55
Group 2 0110426361 CA 84.21 01-May-2004 240,000.00 235,904.82
Group 2 0110433479 CA 62.09 01-Aug-2004 267,000.00 264,570.64
Group 2 0110465897 CA 90.00 01-Nov-2004 279,000.00 276,160.33
Group 2 0110475948 CA 80.00 01-Dec-2004 368,000.00 364,584.36
Group 2 0110475952 CT 75.00 01-Jan-2005 107,250.00 106,779.85
Prepayment Loan Detail - Prepayments during Current Period (continued)
Current
Loan PIF Months Loan Original
Group Number Type Delinquent Rate Term Seasoning
<s> <c> <c> <c> <c> <c> <c>
Group 1 0110260017 Loan Paid in Full 0 7.875% 360 73
Group 1 0110260062 Loan Paid in Full 0 10.650% 180 76
Group 1 0110260608 Loan Paid in Full (1) 7.375% 360 142
Group 1 0110367626 Loan Paid in Full 0 13.990% 367 93
Group 1 0110367751 Loan Paid in Full 0 15.250% 180 58
Group 1 0110368471 Loan Paid in Full 0 12.750% 96 87
Group 1 0110368835 Loan Paid in Full 0 12.250% 184 83
Group 1 0110368904 Loan Paid in Full 0 7.625% 360 87
Group 1 0110369046 Loan Paid in Full 1 12.250% 184 83
Group 1 0110369491 Loan Paid in Full 0 14.990% 120 107
Group 1 0110370034 Loan Paid in Full 0 9.450% 360 76
Group 1 0110407752 Loan Paid in Full 0 7.500% 360 27
Group 1 0110408618 Loan Paid in Full 0 9.650% 240 78
Group 1 0110408866 Loan Paid in Full 1 10.300% 360 72
Group 1 0110408975 Loan Paid in Full 1 10.820% 366 43
Group 1 0110409202 Loan Paid in Full 0 7.470% 240 15
Group 1 0110411179 Loan Paid in Full 0 9.940% 360 41
Group 1 0110423548 Loan Paid in Full 2 10.500% 360 13
Group 1 0110423582 Loan Paid in Full 2 12.000% 180 14
Group 1 0110423619 Loan Paid in Full 0 11.999% 120 18
Group 1 0110423629 Loan Paid in Full 0 10.990% 120 12
Group 1 0110426289 Loan Paid in Full (1) 6.990% 360 11
Group 1 0110426377 Loan Paid in Full 0 7.600% 360 18
Group 1 0110433478 Loan Paid in Full 0 8.875% 360 15
Group 1 0110435167 Loan Paid in Full 0 9.500% 180 11
Group 1 0110464787 Loan Paid in Full 3 10.625% 360 7
Group 1 0110475918 Loan Paid in Full 2 12.500% 180 15
Group 2 0110370066 Loan Paid in Full 0 10.250% 360 77
Group 2 0110407610 Loan Paid in Full 0 7.450% 360 12
Group 2 0110407812 Loan Paid in Full 0 9.800% 360 33
Group 2 0110426281 Loan Paid in Full 0 6.650% 360 12
Group 2 0110426328 Loan Paid in Full 0 6.950% 360 10
Group 2 0110426338 Loan Paid in Full 0 6.775% 360 13
Group 2 0110426360 Loan Paid in Full 0 6.900% 360 18
Group 2 0110426361 Loan Paid in Full 0 6.600% 360 18
Group 2 0110433479 Loan Paid in Full 4 7.990% 360 15
Group 2 0110465897 Loan Paid in Full 0 6.990% 360 12
Group 2 0110475948 Loan Paid in Full 3 6.490% 360 11
Group 2 0110475952 Loan Paid in Full 1 9.700% 360 10
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 3.310% Current Month 33.232% Current Month 553.874%
3 Month Average 2.750% 3 Month Average 28.360% 3 Month Average 472.667%
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 39.867% N/A Jul-2005 664.449% N/A
Aug-2005 44.485% N/A Aug-2005 741.419% N/A
Sep-2005 26.410% N/A Sep-2005 440.168% N/A
Oct-2005 25.438% N/A Oct-2005 423.961% N/A
Nov-2005 33.232% N/A Nov-2005 553.874% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Group 1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.697% Current Month 27.973% Current Month 466.217%
3 Month Average 2.179% 3 Month Average 23.158% 3 Month Average 385.972%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 26.989% N/A Jul-2005 449.824% N/A
Aug-2005 30.217% N/A Aug-2005 503.615% N/A
Sep-2005 21.780% N/A Sep-2005 362.999% N/A
Oct-2005 19.722% N/A Oct-2005 328.700% N/A
Nov-2005 27.973% N/A Nov-2005 466.217% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Group 2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 4.155% Current Month 39.906% Current Month 894.343%
3 Month Average 3.527% 3 Month Average 34.920% 3 Month Average 827.650%
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 52.964% N/A Jul-2005 1,533.545% N/A
Aug-2005 58.920% N/A Aug-2005 1,569.011% N/A
Sep-2005 32.241% N/A Sep-2005 812.711% N/A
Oct-2005 32.612% N/A Oct-2005 775.895% N/A
Nov-2005 39.906% N/A Nov-2005 894.343% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
Group 1 0 0.00 0.00 0.000%
Group 2 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
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 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.
Group 1
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
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 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.
Group 2
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
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 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>