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
IMPAC SECURED ASSETS CORPORATION
Mortgage Pass-Through Certificates, Series 2005-1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-117991-03
Pooling and Servicing Agreement) (Commission 54-2176762
(State or other File Number) 54-2176763
jurisdiction 54-2176764
of Incorporation) IRS EIN
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
On November 25, 2005 a distribution was made to holders of IMPAC SECURED
ASSETS CORPORATION, Mortgage Pass-Through Certificates, Series 2005-1 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Mortgage Pass-Through Certificates,
Series 2005-1 Trust, relating to the
November 25, 2005 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
IMPAC SECURED ASSETS CORPORATION
Mortgage Pass-Through Certificates, Series 2005-1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 11/30/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2005-1 Trust,
relating to the November 25, 2005 distribution.
EX-99.1
Impac Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
Record Date: 10/31/2005
Distribution Date: 11/25/2005
Impac Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
Series 2005-1
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
1A1 45254TRN6 SEN 4.29958% 23,120,372.60 82,839.93
1AX 45254TSK1 SEN 0.86000% 0.00 35,645.42
2A1 45254TRP1 SEN 5.25761% 14,192,340.78 62,181.44
3A1 45254TRQ9 SEN 4.98244% 61,142,359.25 253,865.20
3AX 45254TSL9 SEN 0.35000% 0.00 17,833.19
4A1 45254TRR7 SEN 5.13900% 11,158,298.10 47,785.41
5A1 45254TRS5 SEN 4.30750% 40,250,568.93 149,298.86
5A2 45254TRT3 SEN 4.14750% 84,483,574.98 301,729.57
5A3 45254TRU0 SEN 4.31750% 160,394,000.00 596,320.39
5A4 45254TRV8 SEN 4.41750% 19,837,000.00 75,459.12
5A5 45254TRW6 SEN 4.38750% 33,885,612.29 128,024.08
5A6 45254TRX4 SEN 4.34750% 44,722,854.36 162,027.17
5A7 45254TRY2 SEN 4.38750% 11,180,713.59 42,242.13
5AX 45254TRZ9 SEN 1.35894% 0.00 618,885.35
B1 45254TSD7 SUB 5.66920% 30,737,119.34 145,212.48
B2 45254TSE5 SUB 5.66920% 13,942,425.32 65,868.70
B3 45254TSF2 SUB 5.66920% 8,872,725.13 41,917.74
B4 45254TSG0 SUB 5.66920% 8,871,725.39 41,913.01
B5 45254TSH8 SUB 5.66920% 6,971,212.66 32,934.35
B6 45254TSJ4 SUB 5.66920% 5,070,871.08 23,956.50
R1 45254TSA3 SEN 4.30544% 0.00 0.00
R2 45254TSB1 SEN 4.30544% 0.00 0.00
R3 45254TSC9 SEN 4.30544% 0.00 0.00
Totals 578,833,773.80 2,925,940.04
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1A1 821,495.55 0.00 22,298,877.05 904,335.48 0.00
1AX 0.00 0.00 0.00 35,645.42 0.00
2A1 394,203.54 0.00 13,798,137.24 456,384.98 0.00
3A1 1,104.52 0.00 61,141,254.73 254,969.72 0.00
3AX 0.00 0.00 0.00 17,833.19 0.00
4A1 1,285.75 0.00 11,157,012.35 49,071.16 0.00
5A1 1,552,443.67 0.00 38,698,125.26 1,701,742.53 0.00
5A2 10,209,904.52 0.00 74,273,670.45 10,511,634.09 0.00
5A3 0.00 0.00 160,394,000.00 596,320.39 0.00
5A4 0.00 0.00 19,837,000.00 75,459.12 0.00
5A5 1,306,950.58 0.00 32,578,661.72 1,434,974.66 0.00
5A6 1,724,937.41 0.00 42,997,916.95 1,886,964.58 0.00
5A7 431,234.35 0.00 10,749,479.24 473,476.48 0.00
5AX 0.00 0.00 0.00 618,885.35 0.00
B1 1,883.91 0.00 30,735,235.43 147,096.39 0.00
B2 854.55 0.00 13,941,570.77 66,723.25 0.00
B3 543.82 0.00 8,872,181.31 42,461.56 0.00
B4 543.76 0.00 8,871,181.63 42,456.77 0.00
B5 427.27 0.00 6,970,785.39 33,361.62 0.00
B6 310.80 0.00 5,070,560.29 24,267.30 0.00
R1 0.00 0.00 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00
Totals 16,448,124.00 0.00 562,385,649.81 19,374,064.04 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
This report has been compiled from information provided to Wells Fargo Bank, N.A. by various
third parties, which may include the Servicer, Master Servicer, Special Servicer and others.
Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received
from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly
disclaims any responsibility for the accuracy or completeness of information furnished by
third parties.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
1A1 25,200,000.00 23,120,372.60 698.69 820,796.86 0.00 0.00
1AX 0.00 0.00 0.00 0.00 0.00 0.00
2A1 18,136,000.00 14,192,340.78 0.00 394,203.54 0.00 0.00
3A1 62,836,000.00 61,142,359.25 967.97 136.55 0.00 0.00
3AX 0.00 0.00 0.00 0.00 0.00 0.00
4A1 11,922,000.00 11,158,298.10 1,270.78 14.97 0.00 0.00
5A1 45,000,000.00 40,250,568.93 2,856.96 1,549,586.71 0.00 0.00
5A2 115,719,000.00 84,483,574.98 18,789.27 10,191,115.25 0.00 0.00
5A3 160,394,000.00 160,394,000.00 0.00 0.00 0.00 0.00
5A4 19,837,000.00 19,837,000.00 0.00 0.00 0.00 0.00
5A5 37,884,000.00 33,885,612.29 2,405.18 1,304,545.40 0.00 0.00
5A6 50,000,000.00 44,722,854.36 3,174.40 1,721,763.01 0.00 0.00
5A7 12,500,000.00 11,180,713.59 793.60 430,440.75 0.00 0.00
5AX 0.00 0.00 0.00 0.00 0.00 0.00
B1 30,745,000.00 30,737,119.34 1,883.91 0.00 0.00 0.00
B2 13,946,000.00 13,942,425.32 854.55 0.00 0.00 0.00
B3 8,875,000.00 8,872,725.13 543.82 0.00 0.00 0.00
B4 8,874,000.00 8,871,725.39 543.76 0.00 0.00 0.00
B5 6,973,000.00 6,971,212.66 427.27 0.00 0.00 0.00
B6 5,072,171.20 5,070,871.08 310.80 0.00 0.00 0.00
R1 100.00 0.00 0.00 0.00 0.00 0.00
R2 100.00 0.00 0.00 0.00 0.00 0.00
R3 100.00 0.00 0.00 0.00 0.00 0.00
Totals 633,913,471.20 578,833,773.80 35,520.96 16,412,603.04 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
1A1 821,495.55 22,298,877.05 0.88487607 821,495.55
1AX 0.00 0.00 0.00000000 0.00
2A1 394,203.54 13,798,137.24 0.76081480 394,203.54
3A1 1,104.52 61,141,254.73 0.97302907 1,104.52
3AX 0.00 0.00 0.00000000 0.00
4A1 1,285.75 11,157,012.35 0.93583395 1,285.75
5A1 1,552,443.67 38,698,125.26 0.85995834 1,552,443.67
5A2 10,209,904.52 74,273,670.45 0.64184508 10,209,904.52
5A3 0.00 160,394,000.00 1.00000000 0.00
5A4 0.00 19,837,000.00 1.00000000 0.00
5A5 1,306,950.58 32,578,661.72 0.85995834 1,306,950.58
5A6 1,724,937.41 42,997,916.95 0.85995834 1,724,937.41
5A7 431,234.35 10,749,479.24 0.85995834 431,234.35
5AX 0.00 0.00 0.00000000 0.00
B1 1,883.91 30,735,235.43 0.99968240 1,883.91
B2 854.55 13,941,570.77 0.99968240 854.55
B3 543.82 8,872,181.31 0.99968240 543.82
B4 543.76 8,871,181.63 0.99968240 543.76
B5 427.27 6,970,785.39 0.99968240 427.27
B6 310.80 5,070,560.29 0.99968240 310.80
R1 0.00 0.00 0.00000000 0.00
R2 0.00 0.00 0.00000000 0.00
R3 0.00 0.00 0.00000000 0.00
Totals 16,448,124.00 562,385,649.81 0.88716469 16,448,124.00
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
1A1 25,200,000.00 917.47510317 0.02772579 32.57130397 0.00000000
1AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
2A1 18,136,000.00 782.55077084 0.00000000 21.73596934 0.00000000
3A1 62,836,000.00 973.04664921 0.01540470 0.00217312 0.00000000
3AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
4A1 11,922,000.00 935.94179668 0.10659118 0.00125566 0.00000000
5A1 45,000,000.00 894.45708733 0.06348800 34.43526022 0.00000000
5A2 115,719,000.00 730.07522516 0.16236979 88.06777841 0.00000000
5A3 160,394,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
5A4 19,837,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
5A5 37,884,000.00 894.45708716 0.06348802 34.43526027 0.00000000
5A6 50,000,000.00 894.45708720 0.06348800 34.43526020 0.00000000
5A7 12,500,000.00 894.45708720 0.06348800 34.43526000 0.00000000
5AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B1 30,745,000.00 999.74367670 0.06127533 0.00000000 0.00000000
B2 13,946,000.00 999.74367704 0.06127563 0.00000000 0.00000000
B3 8,875,000.00 999.74367662 0.06127549 0.00000000 0.00000000
B4 8,874,000.00 999.74367703 0.06127564 0.00000000 0.00000000
B5 6,973,000.00 999.74367704 0.06127492 0.00000000 0.00000000
B6 5,072,171.20 999.74367584 0.06127553 0.00000000 0.00000000
R1 100.00 0.00000000 0.00000000 0.00000000 0.00000000
R2 100.00 0.00000000 0.00000000 0.00000000 0.00000000
R3 100.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All Classes are per $1,000 denomination
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
1A1 0.00000000 32.59902976 884.87607341 0.88487607 32.59902976
1AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2A1 0.00000000 21.73596934 760.81480150 0.76081480 21.73596934
3A1 0.00000000 0.01757782 973.02907139 0.97302907 0.01757782
3AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
4A1 0.00000000 0.10784684 935.83394984 0.93583395 0.10784684
5A1 0.00000000 34.49874822 859.95833911 0.85995834 34.49874822
5A2 0.00000000 88.23014820 641.84507687 0.64184508 88.23014820
5A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
5A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
5A5 0.00000000 34.49874828 859.95833914 0.85995834 34.49874828
5A6 0.00000000 34.49874820 859.95833900 0.85995834 34.49874820
5A7 0.00000000 34.49874800 859.95833920 0.85995834 34.49874800
5AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B1 0.00000000 0.06127533 999.68240137 0.99968240 0.06127533
B2 0.00000000 0.06127563 999.68240141 0.99968240 0.06127563
B3 0.00000000 0.06127549 999.68240113 0.99968240 0.06127549
B4 0.00000000 0.06127564 999.68240140 0.99968240 0.06127564
B5 0.00000000 0.06127492 999.68240212 0.99968240 0.06127492
B6 0.00000000 0.06127553 999.68240228 0.99968240 0.06127553
R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R3 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>
1A1 25,200,000.00 4.29958% 23,120,372.60 82,839.93 0.00 0.00
1AX 0.00 0.86000% 23,120,372.60 16,569.60 0.00 0.00
2A1 18,136,000.00 5.25761% 14,192,340.78 62,181.44 0.00 0.00
3A1 62,836,000.00 4.98244% 61,142,359.25 253,865.20 0.00 0.00
3AX 0.00 0.35000% 61,142,359.25 17,833.19 0.00 0.00
4A1 11,922,000.00 5.13900% 11,158,298.10 47,785.41 0.00 0.00
5A1 45,000,000.00 4.30750% 40,250,568.93 149,298.86 0.00 0.00
5A2 115,719,000.00 4.14750% 84,483,574.98 301,729.57 0.00 0.00
5A3 160,394,000.00 4.31750% 160,394,000.00 596,320.39 0.00 0.00
5A4 19,837,000.00 4.41750% 19,837,000.00 75,459.12 0.00 0.00
5A5 37,884,000.00 4.38750% 33,885,612.29 128,024.08 0.00 0.00
5A6 50,000,000.00 4.34750% 44,722,854.36 162,027.17 0.00 0.00
5A7 12,500,000.00 4.38750% 11,180,713.59 42,242.13 0.00 0.00
5AX 0.00 1.35894% 394,754,324.15 447,041.13 0.00 0.00
B1 30,745,000.00 5.66920% 30,737,119.34 145,212.48 0.00 0.00
B2 13,946,000.00 5.66920% 13,942,425.32 65,868.70 0.00 0.00
B3 8,875,000.00 5.66920% 8,872,725.13 41,917.74 0.00 0.00
B4 8,874,000.00 5.66920% 8,871,725.39 41,913.01 0.00 0.00
B5 6,973,000.00 5.66920% 6,971,212.66 32,934.35 0.00 0.00
B6 5,072,171.20 5.66920% 5,070,871.08 23,956.50 0.00 0.00
R1 100.00 4.30544% 0.00 0.00 0.00 0.00
R2 100.00 4.30544% 0.00 0.00 0.00 0.00
R3 100.00 4.30544% 0.00 0.00 0.00 0.00
Totals 633,913,471.20 2,735,020.00 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1A1 0.00 0.00 82,839.93 0.00 22,298,877.05
1AX 0.00 0.00 35,645.42 0.00 22,298,877.05
2A1 0.00 0.00 62,181.44 0.00 13,798,137.24
3A1 0.00 0.00 253,865.20 0.00 61,141,254.73
3AX 0.00 0.00 17,833.19 0.00 61,141,254.73
4A1 0.00 0.00 47,785.41 0.00 11,157,012.35
5A1 0.00 0.00 149,298.86 0.00 38,698,125.26
5A2 0.00 0.00 301,729.57 0.00 74,273,670.45
5A3 0.00 0.00 596,320.39 0.00 160,394,000.00
5A4 0.00 0.00 75,459.12 0.00 19,837,000.00
5A5 0.00 0.00 128,024.08 0.00 32,578,661.72
5A6 0.00 0.00 162,027.17 0.00 42,997,916.95
5A7 0.00 0.00 42,242.13 0.00 10,749,479.24
5AX 0.00 0.00 618,885.35 0.00 379,528,853.62
B1 0.00 0.00 145,212.48 0.00 30,735,235.43
B2 0.00 0.00 65,868.70 0.00 13,941,570.77
B3 0.00 0.00 41,917.74 0.00 8,872,181.31
B4 0.00 0.00 41,913.01 0.00 8,871,181.63
B5 0.00 0.00 32,934.35 0.00 6,970,785.39
B6 0.00 0.00 23,956.50 0.00 5,070,560.29
R1 0.00 0.00 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,925,940.04 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
1A1 25,200,000.00 4.29958% 917.47510317 3.28729881 0.00000000 0.00000000
1AX 0.00 0.86000% 917.47510317 0.65752381 0.00000000 0.00000000
2A1 18,136,000.00 5.25761% 782.55077084 3.42861932 0.00000000 0.00000000
3A1 62,836,000.00 4.98244% 973.04664921 4.04012350 0.00000000 0.00000000
3AX 0.00 0.35000% 973.04664921 0.28380530 0.00000000 0.00000000
4A1 11,922,000.00 5.13900% 935.94179668 4.00817061 0.00000000 0.00000000
5A1 45,000,000.00 4.30750% 894.45708733 3.31775244 0.00000000 0.00000000
5A2 115,719,000.00 4.14750% 730.07522516 2.60743327 0.00000000 0.00000000
5A3 160,394,000.00 4.31750% 1000.00000000 3.71784724 0.00000000 0.00000000
5A4 19,837,000.00 4.41750% 1000.00000000 3.80395826 0.00000000 0.00000000
5A5 37,884,000.00 4.38750% 894.45708716 3.37937071 0.00000000 0.00000000
5A6 50,000,000.00 4.34750% 894.45708720 3.24054340 0.00000000 0.00000000
5A7 12,500,000.00 4.38750% 894.45708720 3.37937040 0.00000000 0.00000000
5AX 0.00 1.35894% 894.45708726 1.01293154 0.00000000 0.00000000
B1 30,745,000.00 5.66920% 999.74367670 4.72312506 0.00000000 0.00000000
B2 13,946,000.00 5.66920% 999.74367704 4.72312491 0.00000000 0.00000000
B3 8,875,000.00 5.66920% 999.74367662 4.72312563 0.00000000 0.00000000
B4 8,874,000.00 5.66920% 999.74367703 4.72312486 0.00000000 0.00000000
B5 6,973,000.00 5.66920% 999.74367704 4.72312491 0.00000000 0.00000000
B6 5,072,171.20 5.66920% 999.74367584 4.72312528 0.00000000 0.00000000
R1 100.00 4.30544% 0.00000000 0.00000000 0.00000000 0.00000000
R2 100.00 4.30544% 0.00000000 0.00000000 0.00000000 0.00000000
R3 100.00 4.30544% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are per $1,000 denomination
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
1A1 0.00000000 0.00000000 3.28729881 0.00000000 884.87607341
1AX 0.00000000 0.00000000 1.41450079 0.00000000 884.87607341
2A1 0.00000000 0.00000000 3.42861932 0.00000000 760.81480150
3A1 0.00000000 0.00000000 4.04012350 0.00000000 973.02907139
3AX 0.00000000 0.00000000 0.28380530 0.00000000 973.02907139
4A1 0.00000000 0.00000000 4.00817061 0.00000000 935.83394984
5A1 0.00000000 0.00000000 3.31775244 0.00000000 859.95833911
5A2 0.00000000 0.00000000 2.60743327 0.00000000 641.84507687
5A3 0.00000000 0.00000000 3.71784724 0.00000000 1000.00000000
5A4 0.00000000 0.00000000 3.80395826 0.00000000 1000.00000000
5A5 0.00000000 0.00000000 3.37937071 0.00000000 859.95833914
5A6 0.00000000 0.00000000 3.24054340 0.00000000 859.95833900
5A7 0.00000000 0.00000000 3.37937040 0.00000000 859.95833920
5AX 0.00000000 0.00000000 1.40230608 0.00000000 859.95833908
B1 0.00000000 0.00000000 4.72312506 0.00000000 999.68240137
B2 0.00000000 0.00000000 4.72312491 0.00000000 999.68240141
B3 0.00000000 0.00000000 4.72312563 0.00000000 999.68240113
B4 0.00000000 0.00000000 4.72312486 0.00000000 999.68240140
B5 0.00000000 0.00000000 4.72312491 0.00000000 999.68240212
B6 0.00000000 0.00000000 4.72312528 0.00000000 999.68240228
R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R3 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 19,556,879.03
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
Total Deposits 19,556,879.03
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 182,814.99
Payment of Interest and Principal 19,374,064.04
Total Withdrawals (Pool Distribution Amount) 19,556,879.03
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 180,885.55
Wells Fargo Bank, N.A. 1,929.44
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 182,814.99
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 0.00 0.00 0.00 0.00
Reserve Fund 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 4 0 0 4
764,914.49 0.00 0.00 764,914.49
30 Days 35 0 0 0 35
11,347,953.97 0.00 0.00 0.00 11,347,953.97
60 Days 13 0 0 0 13
4,307,160.52 0.00 0.00 0.00 4,307,160.52
90 Days 2 1 6 0 9
589,600.00 97,594.72 1,497,480.00 0.00 2,184,674.72
120 Days 0 1 6 1 8
0.00 123,500.00 1,801,731.05 91,000.00 2,016,231.05
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 50 6 12 1 69
16,244,714.49 986,009.21 3,299,211.05 91,000.00 20,620,934.75
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 0.205867% 0.000000% 0.000000% 0.205867%
0.136012% 0.000000% 0.000000% 0.136012%
30 Days 1.801338% 0.000000% 0.000000% 0.000000% 1.801338%
2.017824% 0.000000% 0.000000% 0.000000% 2.017824%
60 Days 0.669068% 0.000000% 0.000000% 0.000000% 0.669068%
0.765873% 0.000000% 0.000000% 0.000000% 0.765873%
90 Days 0.102934% 0.051467% 0.308801% 0.000000% 0.463201%
0.104839% 0.017354% 0.266273% 0.000000% 0.388466%
120 Days 0.000000% 0.051467% 0.308801% 0.051467% 0.411734%
0.000000% 0.021960% 0.320373% 0.016181% 0.358514%
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 2.573340% 0.308801% 0.617602% 0.051467% 3.551209%
2.888536% 0.175326% 0.586646% 0.016181% 3.666689%
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 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
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 1 0 0 0 1
236,000.00 0.00 0.00 0.00 236,000.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 1 0 0 1
0.00 123,500.00 0.00 0.00 123,500.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 1 1 0 0 2
236,000.00 123,500.00 0.00 0.00 359,500.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.272727% 0.000000% 0.000000% 0.000000% 2.272727%
1.450440% 0.000000% 0.000000% 0.000000% 1.450440%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 2.272727% 0.000000% 0.000000% 2.272727%
0.000000% 0.759023% 0.000000% 0.000000% 0.759023%
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 2.272727% 2.272727% 0.000000% 0.000000% 4.545455%
1.450440% 0.759023% 0.000000% 0.000000% 2.209463%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
3 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 2 0 0 0 2
1,033,815.25 0.00 0.00 0.00 1,033,815.25
60 Days 1 0 0 0 1
725,503.76 0.00 0.00 0.00 725,503.76
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 3 0 0 0 3
1,759,319.01 0.00 0.00 0.00 1,759,319.01
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.938967% 0.000000% 0.000000% 0.000000% 0.938967%
1.483214% 0.000000% 0.000000% 0.000000% 1.483214%
60 Days 0.469484% 0.000000% 0.000000% 0.000000% 0.469484%
1.040880% 0.000000% 0.000000% 0.000000% 1.040880%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 1.408451% 0.000000% 0.000000% 0.000000% 1.408451%
2.524094% 0.000000% 0.000000% 0.000000% 2.524094%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
4 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 2 0 0 0 2
331,000.00 0.00 0.00 0.00 331,000.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 2 0 0 0 2
331,000.00 0.00 0.00 0.00 331,000.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 5.882353% 0.000000% 0.000000% 0.000000% 5.882353%
2.584644% 0.000000% 0.000000% 0.000000% 2.584644%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 5.882353% 0.000000% 0.000000% 0.000000% 5.882353%
2.584644% 0.000000% 0.000000% 0.000000% 2.584644%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
5 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
764,914.49 0.00 0.00 764,914.49
30 Days 30 0 0 0 30
9,747,138.72 0.00 0.00 0.00 9,747,138.72
60 Days 12 0 0 0 12
3,581,656.76 0.00 0.00 0.00 3,581,656.76
90 Days 2 1 6 0 9
589,600.00 97,594.72 1,497,480.00 0.00 2,184,674.72
120 Days 0 0 6 1 7
0.00 0.00 1,801,731.05 91,000.00 1,892,731.05
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 44 5 12 1 62
13,918,395.48 862,509.21 3,299,211.05 91,000.00 18,171,115.74
0-29 Days 0.254939% 0.000000% 0.000000% 0.254939%
0.174734% 0.000000% 0.000000% 0.174734%
30 Days 1.912046% 0.000000% 0.000000% 0.000000% 1.912046%
2.226596% 0.000000% 0.000000% 0.000000% 2.226596%
60 Days 0.764818% 0.000000% 0.000000% 0.000000% 0.764818%
0.818179% 0.000000% 0.000000% 0.000000% 0.818179%
90 Days 0.127470% 0.063735% 0.382409% 0.000000% 0.573614%
0.134686% 0.022294% 0.342078% 0.000000% 0.499058%
120 Days 0.000000% 0.000000% 0.382409% 0.063735% 0.446144%
0.000000% 0.000000% 0.411580% 0.020788% 0.432368%
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 2.804334% 0.318674% 0.764818% 0.063735% 3.951562%
3.179461% 0.197028% 0.753658% 0.020788% 4.150935%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
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 1 Dec-04 0.000%
Original Principal Balance 91,000.00 Jan-05 0.000%
Current Principal Balance 91,000.00 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 91,000.00 Jun-05 0.000%
Current Principal Balance 91,000.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.016%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
2 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
3 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
4 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
5 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 1 Dec-04 0.000%
Original Principal Balance 91,000.00 Jan-05 0.000%
Current Principal Balance 91,000.00 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 91,000.00 Jun-05 0.000%
Current Principal Balance 91,000.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.021%
*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>
5 1103385504 Nov-2005 01-Jun-2005 GA 0.00 91,000.00
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>
5 1103385504 91,000.00 01-May-2005 4 6.625% 2,830.12
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 6 Dec-04 0.000%
Original Principal Balance 1,718,550.00 Jan-05 0.000%
Current Principal Balance 1,718,318.45 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 12 May-05 0.000%
Original Principal Balance 3,299,680.00 Jun-05 0.000%
Current Principal Balance 3,299,211.05 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.162%
Oct-05 0.499%
Nov-05 0.587%
*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 0.741%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
3 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 1.054%
Oct-05 1.054%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
4 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
5 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 6 Dec-04 0.000%
Original Principal Balance 1,718,550.00 Jan-05 0.000%
Current Principal Balance 1,718,318.45 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 12 May-05 0.000%
Original Principal Balance 3,299,680.00 Jun-05 0.000%
Current Principal Balance 3,299,211.05 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.048%
Oct-05 0.449%
Nov-05 0.754%
*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>
5 1103382319 Nov-2005 01-May-2005 CO 0.00 157,500.00
5 1103388858 Sep-2005 01-Apr-2005 IL 0.00 223,200.00
5 1103394333 Oct-2005 01-Jun-2005 IL 0.00 90,930.00
5 1103396576 Nov-2005 01-May-2005 CA 0.00 147,200.00
5 1103402058 Nov-2005 01-Apr-2005 CA 0.00 650,000.00
5 1103411005 Nov-2005 01-Apr-2005 OH 0.00 179,600.00
5 1103411054 Nov-2005 01-May-2005 MI 0.00 272,250.00
5 1103411286 Oct-2005 01-Apr-2005 CA 0.00 301,000.00
5 1103414621 Nov-2005 01-May-2005 CA 0.00 312,000.00
5 1103414713 Oct-2005 01-May-2005 CA 0.00 328,000.00
5 2503103899 Oct-2005 01-Jun-2005 TX 0.00 238,000.00
5 2503106686 Oct-2005 01-Jun-2005 CA 0.00 400,000.00
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>
5 1103382319 157,500.00 01-Jun-2005 3 6.375% 3,917.80
5 1103388858 223,200.00 01-May-2005 4 6.810% 7,147.98
5 1103394333 90,930.00 01-Jun-2005 3 6.625% 2,356.60
5 1103396576 147,200.00 01-Jun-2005 3 6.625% 3,814.95
5 1103402058 650,000.00 01-Jun-2005 3 6.250% 15,830.20
5 1103411005 179,600.00 01-Jun-2005 3 5.890% 4,104.60
5 1103411054 272,250.00 01-Jun-2005 3 7.690% 6,324.15
5 1103411286 301,000.00 01-May-2005 4 6.690% 7,050.94
5 1103414621 311,768.45 01-May-2005 4 7.500% 11,059.98
5 1103414713 327,762.60 01-May-2005 4 7.625% 11,832.24
5 2503103899 238,000.00 01-May-2005 4 6.875% 7,699.31
5 2503106686 400,000.00 01-May-2005 4 6.125% 11,440.02
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 6.117687%
Weighted Average Net Coupon 5.742687%
Weighted Average Pass-Through Rate 5.670063%
Weighted Average Maturity(Stepdown Calculation) 354
Beginning Scheduled Collateral Loan Count 1,997
Number Of Loans Paid In Full 54
Ending Scheduled Collateral Loan Count 1,943
Beginning Scheduled Collateral Balance 578,833,773.80
Ending Scheduled Collateral Balance 562,385,649.81
Ending Actual Collateral Balance at 31-Oct-2005 562,385,649.81
Monthly P&I Constant 2,986,457.64
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 35,520.95
Unscheduled Principal 16,412,603.04
Group Level Collateral Statement
Group 1 2 3
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 5.574160 5.666606 5.749350
Weighted Average Net Rate 5.199160 5.291606 5.374350
Weighted Average Maturity 354 354 355
Beginning Loan Count 86 46 213
Loans Paid In Full 3 2 0
Ending Loan Count 83 44 213
Beginning Scheduled Balance 26,669,315.16 16,665,123.74 69,702,246.79
Ending Scheduled Balance 25,847,712.36 16,270,920.20 69,701,006.76
Record Date 10/31/2005 10/31/2005 10/31/2005
Principal And Interest Constant 124,688.47 78,695.58 335,055.63
Scheduled Principal 805.94 0.00 1,103.48
Unscheduled Principal 820,796.86 394,203.54 136.55
Scheduled Interest 123,882.53 78,695.58 333,952.15
Servicing Fees 8,334.16 5,207.85 21,781.95
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 88.90 55.55 232.34
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 790.69 416.63 2,201.99
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 114,668.78 73,015.55 309,735.87
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 5.159583 5.257606 5.332440
Group Level Collateral Statement
Group 4 5 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 5.548001 6.239066 6.117687
Weighted Average Net Rate 5.173001 5.864066 5.742687
Weighted Average Maturity 354 354 354
Beginning Loan Count 34 1,618 1,997
Loans Paid In Full 0 49 54
Ending Loan Count 34 1,569 1,943
Beginning Scheduled Balance 12,807,880.24 452,989,207.87 578,833,773.80
Ending scheduled Balance 12,806,406.62 437,759,603.87 562,385,649.81
Record Date 10/31/2005 10/31/2005 10/31/2005
Principal And Interest Constant 60,673.76 2,387,344.20 2,986,457.64
Scheduled Principal 1,458.65 32,152.88 35,520.95
Unscheduled Principal 14.97 15,197,451.12 16,412,603.04
Scheduled Interest 59,215.11 2,355,191.32 2,950,936.69
Servicing Fees 4,002.46 141,559.13 180,885.55
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 42.69 1,509.96 1,929.44
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 320.20 29,372.15 33,101.66
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 54,849.76 2,182,750.08 2,735,020.04
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 5.139001 5.782257 5.670063
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 3 820,350.00 820,050.00 0 0.00 0.00
2 2 393,700.00 393,700.00 0 0.00 0.00
3 0 0.00 0.00 0 0.00 0.00
4 0 0.00 0.00 0 0.00 0.00
5 49 15,189,124.80 15,182,964.88 0 0.00 0.00
Total 54 16,403,174.80 16,396,714.88 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 0.00 746.86
2 0 0.00 0.00 0 0.00 0.00 503.54
3 0 0.00 0.00 0 0.00 0.00 136.55
4 0 0.00 0.00 0 0.00 0.00 14.97
5 0 0.00 0.00 0 0.00 0.00 15,538.58
Total 0 0.00 0.00 0 0.00 0.00 16,940.50
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 1103375262 CA 0.00 01-May-2005 251,650.00 251,650.00
1 1103390959 CA 0.00 01-May-2005 318,500.00 318,500.00
1 2503105409 IL 0.00 01-Jun-2005 250,200.00 249,900.00
2 1103357415 CA 0.00 01-Mar-2005 201,200.00 201,200.00
2 1103410808 CA 0.00 01-Jun-2005 192,500.00 192,500.00
5 1103226192 AL 0.00 01-Sep-2004 297,500.00 297,283.07
5 1103386667 NJ 0.00 01-Jun-2005 229,900.00 229,899.55
5 1103387165 CA 0.00 01-May-2005 400,000.00 400,000.00
5 1103387780 MN 0.00 01-Jun-2005 325,000.00 323,566.04
5 1103391276 CA 0.00 01-May-2005 251,200.00 251,200.00
5 1103391340 FL 0.00 01-Jun-2005 149,800.00 149,088.18
5 1103391479 FL 0.00 01-Jun-2005 110,600.00 110,600.00
5 1103392999 NV 0.00 01-May-2005 619,500.00 619,500.00
5 1103393136 MD 0.00 01-Apr-2005 1,400,000.00 1,400,000.00
5 1103393242 MN 0.00 01-Apr-2005 122,160.00 122,160.00
5 1103393254 FL 0.00 01-May-2005 195,900.00 195,900.00
5 1103393738 FL 0.00 01-May-2005 193,900.00 192,591.51
5 1103394702 CA 0.00 01-May-2005 480,000.00 479,700.00
5 1103398954 CA 0.00 01-May-2005 444,000.00 444,000.00
5 1103399768 CA 0.00 01-Apr-2005 360,000.00 360,000.00
5 1103399836 CA 0.00 01-Apr-2005 244,000.00 244,000.00
5 1103399999 CA 0.00 01-May-2005 280,800.00 280,789.22
5 1103400463 RI 0.00 01-May-2005 212,100.00 211,607.57
5 1103400759 CA 0.00 01-Jun-2005 452,400.00 452,400.00
5 1103404874 CA 0.00 01-May-2005 248,920.00 248,902.22
5 1103404940 NJ 0.00 01-Jun-2005 170,000.00 169,130.71
5 1103406116 NV 0.00 01-Jun-2005 186,750.00 186,750.00
5 1103406725 CA 0.00 01-May-2005 623,000.00 623,000.00
5 1103407686 CA 0.00 01-May-2005 290,000.00 290,000.00
5 1103407794 CA 0.00 01-Jun-2005 163,800.00 163,800.00
5 1103409049 CA 0.00 01-Jun-2005 266,000.00 266,000.00
5 1103410464 SC 0.00 01-May-2005 255,200.00 255,200.00
5 1103410510 GA 0.00 01-May-2005 425,800.00 425,800.00
5 1103410590 CA 0.00 01-May-2005 216,000.00 216,270.00
5 1103410828 CA 0.00 01-Jun-2005 590,000.00 590,000.00
5 1103410971 SC 0.00 01-May-2005 226,408.80 226,408.80
5 1103411094 CA 0.00 01-May-2005 216,000.00 216,000.00
5 1103411188 AZ 0.00 01-Apr-2005 216,750.00 216,700.00
5 1103411209 AZ 0.00 01-Apr-2005 123,200.00 123,200.00
5 1103411309 CA 0.00 01-May-2005 278,360.00 278,360.00
5 1103411310 CA 0.00 01-May-2005 207,600.00 207,597.32
5 1103411332 CA 0.00 01-Apr-2005 249,600.00 249,600.00
5 1103413170 MD 0.00 01-Jun-2005 418,000.00 416,109.35
5 1103413184 MD 0.00 01-May-2005 272,000.00 271,998.67
5 1103414563 NV 0.00 01-May-2005 220,500.00 220,498.00
5 1103414668 AZ 0.00 01-May-2005 177,876.00 177,702.33
5 1103414694 CA 0.00 01-May-2005 268,000.00 268,000.00
5 1103414710 CA 0.00 01-May-2005 267,800.00 267,800.00
5 2503105209 IL 0.00 01-Jun-2005 182,000.00 182,000.00
5 2503105390 FL 0.00 01-Jun-2005 76,800.00 76,800.00
5 2503106500 CA 0.00 01-Jun-2005 516,000.00 516,000.00
5 2503106733 CA 0.00 01-Jun-2005 180,000.00 180,000.00
5 2503106998 FL 0.00 01-Jun-2005 328,000.00 328,000.00
5 4503031280 CO 0.00 01-Jun-2005 560,000.00 560,000.00
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 1103375262 Loan Paid in Full 0 5.875% 360 6
1 1103390959 Loan Paid in Full 0 5.625% 360 6
1 2503105409 Loan Paid in Full 0 6.000% 360 5
2 1103357415 Loan Paid in Full 0 5.875% 360 8
2 1103410808 Loan Paid in Full 0 5.875% 360 5
5 1103226192 Loan Paid in Full 0 6.750% 360 14
5 1103386667 Loan Paid in Full 0 7.250% 360 5
5 1103387165 Loan Paid in Full 0 6.000% 360 6
5 1103387780 Loan Paid in Full 0 7.625% 360 5
5 1103391276 Loan Paid in Full 0 5.875% 360 6
5 1103391340 Loan Paid in Full 0 7.250% 360 5
5 1103391479 Loan Paid in Full 0 6.375% 360 5
5 1103392999 Loan Paid in Full 0 5.125% 360 6
5 1103393136 Loan Paid in Full 0 6.875% 360 7
5 1103393242 Loan Paid in Full 0 7.875% 360 7
5 1103393254 Loan Paid in Full 0 5.500% 360 6
5 1103393738 Loan Paid in Full 1 6.250% 360 6
5 1103394702 Loan Paid in Full 0 7.625% 360 6
5 1103398954 Loan Paid in Full 0 8.000% 360 6
5 1103399768 Loan Paid in Full 3 7.875% 360 7
5 1103399836 Loan Paid in Full 0 5.375% 360 7
5 1103399999 Loan Paid in Full 0 5.625% 360 6
5 1103400463 Loan Paid in Full 0 6.125% 360 6
5 1103400759 Loan Paid in Full 1 6.875% 360 5
5 1103404874 Loan Paid in Full 0 6.750% 360 6
5 1103404940 Loan Paid in Full 0 6.875% 360 5
5 1103406116 Loan Paid in Full 0 6.500% 360 5
5 1103406725 Loan Paid in Full 0 5.750% 360 6
5 1103407686 Loan Paid in Full 0 6.750% 360 6
5 1103407794 Loan Paid in Full (1) 6.625% 360 5
5 1103409049 Loan Paid in Full 0 6.250% 360 5
5 1103410464 Loan Paid in Full 0 6.625% 360 6
5 1103410510 Loan Paid in Full 0 6.625% 360 6
5 1103410590 Loan Paid in Full 0 6.375% 360 6
5 1103410828 Loan Paid in Full 0 6.375% 360 5
5 1103410971 Loan Paid in Full 0 6.140% 360 6
5 1103411094 Loan Paid in Full 0 5.750% 360 6
5 1103411188 Loan Paid in Full 0 7.250% 360 7
5 1103411209 Loan Paid in Full 0 6.165% 360 7
5 1103411309 Loan Paid in Full 0 5.740% 360 6
5 1103411310 Loan Paid in Full 0 6.390% 360 6
5 1103411332 Loan Paid in Full 0 5.700% 360 7
5 1103413170 Loan Paid in Full 0 7.500% 360 5
5 1103413184 Loan Paid in Full 0 7.750% 360 6
5 1103414563 Loan Paid in Full 0 5.625% 360 6
5 1103414668 Loan Paid in Full (1) 6.625% 360 6
5 1103414694 Loan Paid in Full 0 6.125% 360 6
5 1103414710 Loan Paid in Full 0 6.875% 360 6
5 2503105209 Loan Paid in Full 0 5.875% 360 5
5 2503105390 Loan Paid in Full 0 7.875% 360 5
5 2503106500 Loan Paid in Full 0 5.875% 360 5
5 2503106733 Loan Paid in Full 0 6.250% 360 5
5 2503106998 Loan Paid in Full 0 7.990% 360 5
5 4503031280 Loan Paid in Full 0 6.250% 360 5
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.836% Current Month 29.192% Current Month 2,556.271%
3 Month Average 2.508% 3 Month Average 26.244% 3 Month Average 2,835.153%
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 17.583% N/A Jul-2005 4,956.730% N/A
Aug-2005 27.749% N/A Aug-2005 5,067.756% N/A
Sep-2005 25.099% N/A Sep-2005 3,359.052% N/A
Oct-2005 24.442% N/A Oct-2005 2,590.138% N/A
Nov-2005 29.192% N/A Nov-2005 2,556.271% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 3.078% Current Month 31.280% Current Month 2,690.337%
3 Month Average 2.535% 3 Month Average 26.431% 3 Month Average 2,766.394%
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 0.032% N/A Jul-2005 8.822% N/A
Aug-2005 29.522% N/A Aug-2005 5,282.842% N/A
Sep-2005 22.075% N/A Sep-2005 2,912.379% N/A
Oct-2005 25.939% N/A Oct-2005 2,696.466% N/A
Nov-2005 31.280% N/A Nov-2005 2,690.337% 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 2.365% Current Month 24.969% Current Month 2,238.738%
3 Month Average 7.350% 3 Month Average 49.122% 3 Month Average 5,531.283%
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 0.101% N/A Jul-2005 32.128% N/A
Aug-2005 0.045% N/A Aug-2005 8.774% N/A
Sep-2005 34.315% N/A Sep-2005 4,779.223% N/A
Oct-2005 88.081% N/A Oct-2005 9,575.888% N/A
Nov-2005 24.969% N/A Nov-2005 2,238.738% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
3
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.000% Current Month 0.002% Current Month 0.213%
3 Month Average 0.345% 3 Month Average 3.911% 3 Month Average 554.170%
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 8.257% N/A Jul-2005 2,714.502% N/A
Aug-2005 7.376% N/A Aug-2005 1,461.103% N/A
Sep-2005 11.634% N/A Sep-2005 1,651.744% N/A
Oct-2005 0.095% N/A Oct-2005 10.554% N/A
Nov-2005 0.002% N/A Nov-2005 0.213% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
4
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.000% Current Month 0.001% Current Month 0.111%
3 Month Average 0.925% 3 Month Average 9.565% 3 Month Average 900.031%
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 29.717% N/A Jul-2005 6,212.349% N/A
Aug-2005 0.000% N/A Aug-2005 0.001% N/A
Sep-2005 0.097% N/A Sep-2005 11.099% N/A
Oct-2005 28.595% N/A Oct-2005 2,688.883% N/A
Nov-2005 0.001% N/A Nov-2005 0.111% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
5
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 3.355% Current Month 33.604% Current Month 2,936.965%
3 Month Average 2.669% 3 Month Average 27.574% 3 Month Average 2,959.953%
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 20.045% N/A Jul-2005 5,572.012% N/A
Aug-2005 31.797% N/A Aug-2005 5,770.037% N/A
Sep-2005 27.274% N/A Sep-2005 3,633.977% N/A
Oct-2005 21.845% N/A Oct-2005 2,308.916% N/A
Nov-2005 33.604% N/A Nov-2005 2,936.965% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
1 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
3 0 0.00 0.00 0.000%
4 0 0.00 0.00 0.000%
5 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.
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.
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.
3
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 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.
4
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 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.
5
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>