UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 25, 2005
ASSET BACKED FUNDING CORPORATION
Asset Backed Certificates, Series 2005-WM1
(Exact name of registrant as specified in its charter)
New York (governing law of 333-127970-01
Pooling and Servicing Agreement) (Commission 54-2184218
(State or other File Number) 54-2184219
jurisdiction 54-2184220
of Incorporation) 54-2184221
54-2184346
54-2184347
54-2184348
54-6675915
IRS EIN
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
Subsequent to filing the 8-K relating to the payment date on October 25, 2005,
a revision was made to the ASSET BACKED FUNDING CORPORATION, Asset Backed
Certificates, Series 2005-WM1 Trust which was not included in the original 8-K
filed. The 8-K is being amended because a revision was made to the initial
libor rate. This revision was not previously disclosed in a 1934 Act filing.
The revised data has been and will continue to be available on the Wells Fargo
Bank, website at www.ctslink.com.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Amended monthly report distributed to holders of
Asset Backed Certificates, Series 2005-WM1 Trust,
relating to the October 25, 2005 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ASSET BACKED FUNDING CORPORATION
Asset Backed Certificates, Series 2005-WM1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 12/19/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Amended monthly report distributed to holders of Asset Backed
Certificates, Series 2005-WM1 Trust, relating to the
October 25, 2005 distribution.
EX-99.1
Asset Backed Funding Corporation
Asset Backed Certificates
Record Date: 9/30/2005
Distribution Date: 10/25/2005
Asset Backed Funding Corporation
Asset Backed Certificates
Series 2005-WMC1
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
R ABF05WM1R SUB 0.00000% 0.00 0.00
A-1 04542BNX6 SEN 4.10063% 235,900,000.00 671,762.93
A-2A 04542BNY4 SEN 3.95063% 216,231,000.00 593,228.25
A-2B 04542BNZ1 SEN 4.02063% 86,365,000.00 241,140.08
A-2C 04542BPA4 SEN 4.12063% 141,576,000.00 405,126.61
A-2D 04542BPB2 SEN 4.20063% 45,876,000.00 133,825.07
A-2MZ 04542BPC0 SEN 4.16063% 54,450,000.00 157,323.82
M-1 04542BPD8 SUB 4.28063% 37,257,000.00 110,752.38
M-2 04542BPE6 SUB 4.29063% 33,734,000.00 100,513.97
M-3 04542BPF3 SUB 4.33063% 23,160,000.00 69,650.97
M-4 04542BPG1 SUB 4.43063% 16,111,000.00 49,570.75
M-5 04542BPH9 SUB 4.47063% 16,615,000.00 51,583.00
M-6 04542BPJ5 SUB 4.52063% 14,098,000.00 44,258.22
M-7 04542BPK2 SUB 4.96063% 15,104,000.00 52,031.50
M-8 04542BPL0 SUB 5.14063% 11,580,000.00 41,339.23
M-9 04542BPM8 SUB 5.59063% 10,070,000.00 39,095.59
M-10 04542BPN6 SUB 5.84063% 15,104,000.00 61,261.72
M-11 04542BPP1 SUB 6.84063% 6,042,000.00 28,702.14
M-12 04542BPQ9 SUB 6.34063% 9,063,000.00 39,906.34
B-1 04542BPR7 SUB 6.34063% 10,573,000.00 46,555.20
B-2 04542BPS5 SUB 6.34063% 3,021,000.00 13,302.11
CE ABF5WM1CE SUB 0.00000% 5,035,323.42 2,174,178.94
R-X ABF5WM1RX SUB 0.00000% 0.00 0.00
P ABF05WM1P SEN 0.00000% 100.00 291,883.84
Totals 1,006,965,423.42 5,416,992.65
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
R 0.00 0.00 0.00 0.00 0.00
A-1 5,630,234.61 0.00 230,269,765.50 6,301,997.54 0.00
A-2A 14,827,650.94 0.00 201,403,349.04 15,420,879.19 0.00
A-2B 0.00 0.00 86,365,000.00 241,140.08 0.00
A-2C 0.00 0.00 141,576,000.00 405,126.61 0.00
A-2D 0.00 0.00 45,876,000.00 133,825.07 0.00
A-2MZ 1,647,523.49 0.00 52,802,106.63 1,804,847.31 0.00
M-1 0.00 0.00 37,257,000.00 110,752.38 0.00
M-2 0.00 0.00 33,734,000.00 100,513.97 0.00
M-3 0.00 0.00 23,160,000.00 69,650.97 0.00
M-4 0.00 0.00 16,111,000.00 49,570.75 0.00
M-5 0.00 0.00 16,615,000.00 51,583.00 0.00
M-6 0.00 0.00 14,098,000.00 44,258.22 0.00
M-7 0.00 0.00 15,104,000.00 52,031.50 0.00
M-8 0.00 0.00 11,580,000.00 41,339.23 0.00
M-9 0.00 0.00 10,070,000.00 39,095.59 0.00
M-10 0.00 0.00 15,104,000.00 61,261.72 0.00
M-11 0.00 0.00 6,042,000.00 28,702.14 0.00
M-12 0.00 0.00 9,063,000.00 39,906.34 0.00
B-1 0.00 0.00 10,573,000.00 46,555.20 0.00
B-2 0.00 0.00 3,021,000.00 13,302.11 0.00
CE 0.00 0.00 5,034,827.14 2,174,178.94 0.00
R-X 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 100.00 291,883.84 0.00
Totals 22,105,409.04 0.00 984,859,148.31 27,522,401.69 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
This report has been compiled from information provided to Wells Fargo Bank, N.A. by various
third parties, which may include the Servicer, Master Servicer, Special Servicer and others.
Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received
from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly
disclaims any responsibility for the accuracy or completeness of information furnished by
third parties.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
R 0.00 0.00 0.00 0.00 0.00 0.00
A-1 235,900,000.00 235,900,000.00 0.00 5,630,234.61 0.00 0.00
A-2A 216,231,000.00 216,231,000.00 0.00 14,827,650.94 0.00 0.00
A-2B 86,365,000.00 86,365,000.00 0.00 0.00 0.00 0.00
A-2C 141,576,000.00 141,576,000.00 0.00 0.00 0.00 0.00
A-2D 45,876,000.00 45,876,000.00 0.00 0.00 0.00 0.00
A-2MZ 54,450,000.00 54,450,000.00 0.00 1,647,523.49 0.00 0.00
M-1 37,257,000.00 37,257,000.00 0.00 0.00 0.00 0.00
M-2 33,734,000.00 33,734,000.00 0.00 0.00 0.00 0.00
M-3 23,160,000.00 23,160,000.00 0.00 0.00 0.00 0.00
M-4 16,111,000.00 16,111,000.00 0.00 0.00 0.00 0.00
M-5 16,615,000.00 16,615,000.00 0.00 0.00 0.00 0.00
M-6 14,098,000.00 14,098,000.00 0.00 0.00 0.00 0.00
M-7 15,104,000.00 15,104,000.00 0.00 0.00 0.00 0.00
M-8 11,580,000.00 11,580,000.00 0.00 0.00 0.00 0.00
M-9 10,070,000.00 10,070,000.00 0.00 0.00 0.00 0.00
M-10 15,104,000.00 15,104,000.00 0.00 0.00 0.00 0.00
M-11 6,042,000.00 6,042,000.00 0.00 0.00 0.00 0.00
M-12 9,063,000.00 9,063,000.00 0.00 0.00 0.00 0.00
B-1 10,573,000.00 10,573,000.00 0.00 0.00 0.00 0.00
B-2 3,021,000.00 3,021,000.00 0.00 0.00 0.00 0.00
CE 5,035,323.42 5,035,323.42 0.00 0.00 0.00 0.00
R-X 0.00 0.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
Totals 1,006,965,423.42 1,006,965,423.42 0.00 22,105,409.04 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>
R 0.00 0.00 0.00000000 0.00
A-1 5,630,234.61 230,269,765.50 0.97613296 5,630,234.61
A-2A 14,827,650.94 201,403,349.04 0.93142680 14,827,650.94
A-2B 0.00 86,365,000.00 1.00000000 0.00
A-2C 0.00 141,576,000.00 1.00000000 0.00
A-2D 0.00 45,876,000.00 1.00000000 0.00
A-2MZ 1,647,523.49 52,802,106.63 0.96973566 1,647,523.49
M-1 0.00 37,257,000.00 1.00000000 0.00
M-2 0.00 33,734,000.00 1.00000000 0.00
M-3 0.00 23,160,000.00 1.00000000 0.00
M-4 0.00 16,111,000.00 1.00000000 0.00
M-5 0.00 16,615,000.00 1.00000000 0.00
M-6 0.00 14,098,000.00 1.00000000 0.00
M-7 0.00 15,104,000.00 1.00000000 0.00
M-8 0.00 11,580,000.00 1.00000000 0.00
M-9 0.00 10,070,000.00 1.00000000 0.00
M-10 0.00 15,104,000.00 1.00000000 0.00
M-11 0.00 6,042,000.00 1.00000000 0.00
M-12 0.00 9,063,000.00 1.00000000 0.00
B-1 0.00 10,573,000.00 1.00000000 0.00
B-2 0.00 3,021,000.00 1.00000000 0.00
CE 0.00 5,034,827.14 0.99990144 0.00
R-X 0.00 0.00 0.00000000 0.00
P 0.00 100.00 1.00000000 0.00
Totals 22,105,409.04 984,859,148.31 0.97804664 22,105,409.04
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1 235,900,000.00 1000.00000000 0.00000000 23.86703947 0.00000000
A-2A 216,231,000.00 1000.00000000 0.00000000 68.57319691 0.00000000
A-2B 86,365,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2C 141,576,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2D 45,876,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2MZ 54,450,000.00 1000.00000000 0.00000000 30.25754803 0.00000000
M-1 37,257,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 33,734,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 23,160,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 16,111,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 16,615,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 14,098,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-7 15,104,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-8 11,580,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-9 10,070,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-10 15,104,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-11 6,042,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-12 9,063,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 10,573,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-2 3,021,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 5,035,323.42 1000.00000000 0.00000000 0.00000000 0.00000000
R-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All Classes are per $1000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 23.86703947 976.13296100 0.97613296 23.86703947
A-2A 0.00000000 68.57319691 931.42680300 0.93142680 68.57319691
A-2B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2D 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2MZ 0.00000000 30.25754803 969.73565895 0.96973566 30.25754803
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-12 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 0.00000000 999.90144029 0.99990144 0.00000000
R-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
R 0.00 0.00000% 0.00 0.00 0.00 0.00
A-1 235,900,000.00 4.10063% 235,900,000.00 671,762.93 0.00 0.00
A-2A 216,231,000.00 3.95063% 216,231,000.00 593,228.25 0.00 0.00
A-2B 86,365,000.00 4.02063% 86,365,000.00 241,140.08 0.00 0.00
A-2C 141,576,000.00 4.12063% 141,576,000.00 405,126.61 0.00 0.00
A-2D 45,876,000.00 4.20063% 45,876,000.00 133,825.07 0.00 0.00
A-2MZ 54,450,000.00 4.16063% 54,450,000.00 157,323.82 0.00 0.00
M-1 37,257,000.00 4.28063% 37,257,000.00 110,752.38 0.00 0.00
M-2 33,734,000.00 4.29063% 33,734,000.00 100,513.97 0.00 0.00
M-3 23,160,000.00 4.33063% 23,160,000.00 69,650.97 0.00 0.00
M-4 16,111,000.00 4.43063% 16,111,000.00 49,570.75 0.00 0.00
M-5 16,615,000.00 4.47063% 16,615,000.00 51,583.00 0.00 0.00
M-6 14,098,000.00 4.52063% 14,098,000.00 44,258.22 0.00 0.00
M-7 15,104,000.00 4.96063% 15,104,000.00 52,031.50 0.00 0.00
M-8 11,580,000.00 5.14063% 11,580,000.00 41,339.23 0.00 0.00
M-9 10,070,000.00 5.59063% 10,070,000.00 39,095.59 0.00 0.00
M-10 15,104,000.00 5.84063% 15,104,000.00 61,261.72 0.00 0.00
M-11 6,042,000.00 6.84063% 6,042,000.00 28,702.14 0.00 0.00
M-12 9,063,000.00 6.34063% 9,063,000.00 39,906.34 0.00 0.00
B-1 10,573,000.00 6.34063% 10,573,000.00 46,555.20 0.00 0.00
B-2 3,021,000.00 6.34063% 3,021,000.00 13,302.11 0.00 0.00
CE 5,035,323.42 0.00000% 5,035,323.42 0.00 0.00 0.00
R-X 0.00 0.00000% 0.00 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
Totals 1,006,965,423.42 2,950,929.87 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
R 0.00 0.00 0.00 0.00 0.00
A-1 0.00 0.00 671,762.93 0.00 230,269,765.50
A-2A 0.00 0.00 593,228.25 0.00 201,403,349.04
A-2B 0.00 0.00 241,140.08 0.00 86,365,000.00
A-2C 0.00 0.00 405,126.61 0.00 141,576,000.00
A-2D 0.00 0.00 133,825.07 0.00 45,876,000.00
A-2MZ 0.00 0.00 157,323.82 0.00 52,802,106.63
M-1 0.00 0.00 110,752.38 0.00 37,257,000.00
M-2 0.00 0.00 100,513.97 0.00 33,734,000.00
M-3 0.00 0.00 69,650.97 0.00 23,160,000.00
M-4 0.00 0.00 49,570.75 0.00 16,111,000.00
M-5 0.00 0.00 51,583.00 0.00 16,615,000.00
M-6 0.00 0.00 44,258.22 0.00 14,098,000.00
M-7 0.00 0.00 52,031.50 0.00 15,104,000.00
M-8 0.00 0.00 41,339.23 0.00 11,580,000.00
M-9 0.00 0.00 39,095.59 0.00 10,070,000.00
M-10 0.00 0.00 61,261.72 0.00 15,104,000.00
M-11 0.00 0.00 28,702.14 0.00 6,042,000.00
M-12 0.00 0.00 39,906.34 0.00 9,063,000.00
B-1 0.00 0.00 46,555.20 0.00 10,573,000.00
B-2 0.00 0.00 13,302.11 0.00 3,021,000.00
CE 0.00 0.00 2,174,178.94 0.00 5,034,827.14
R-X 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 291,883.84 0.00 100.00
Totals 0.00 0.00 5,416,992.65 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
A-1 235,900,000.00 4.10063% 1000.00000000 2.84765972 0.00000000 0.00000000
A-2A 216,231,000.00 3.95063% 1000.00000000 2.74349306 0.00000000 0.00000000
A-2B 86,365,000.00 4.02063% 1000.00000000 2.79210417 0.00000000 0.00000000
A-2C 141,576,000.00 4.12063% 1000.00000000 2.86154861 0.00000000 0.00000000
A-2D 45,876,000.00 4.20063% 1000.00000000 2.91710417 0.00000000 0.00000000
A-2MZ 54,450,000.00 4.16063% 1000.00000000 2.88932639 0.00000000 0.00000000
M-1 37,257,000.00 4.28063% 1000.00000000 2.97265972 0.00000000 0.00000000
M-2 33,734,000.00 4.29063% 1000.00000000 2.97960417 0.00000000 0.00000000
M-3 23,160,000.00 4.33063% 1000.00000000 3.00738194 0.00000000 0.00000000
M-4 16,111,000.00 4.43063% 1000.00000000 3.07682639 0.00000000 0.00000000
M-5 16,615,000.00 4.47063% 1000.00000000 3.10460416 0.00000000 0.00000000
M-6 14,098,000.00 4.52063% 1000.00000000 3.13932639 0.00000000 0.00000000
M-7 15,104,000.00 4.96063% 1000.00000000 3.44488195 0.00000000 0.00000000
M-8 11,580,000.00 5.14063% 1000.00000000 3.56988194 0.00000000 0.00000000
M-9 10,070,000.00 5.59063% 1000.00000000 3.88238195 0.00000000 0.00000000
M-10 15,104,000.00 5.84063% 1000.00000000 4.05599305 0.00000000 0.00000000
M-11 6,042,000.00 6.84063% 1000.00000000 4.75043750 0.00000000 0.00000000
M-12 9,063,000.00 6.34063% 1000.00000000 4.40321528 0.00000000 0.00000000
B-1 10,573,000.00 6.34063% 1000.00000000 4.40321527 0.00000000 0.00000000
B-2 3,021,000.00 6.34063% 1000.00000000 4.40321529 0.00000000 0.00000000
CE 5,035,323.42 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R-X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are per $1000 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 0.00000000 2.84765972 0.00000000 976.13296100
A-2A 0.00000000 0.00000000 2.74349306 0.00000000 931.42680300
A-2B 0.00000000 0.00000000 2.79210417 0.00000000 1000.00000000
A-2C 0.00000000 0.00000000 2.86154861 0.00000000 1000.00000000
A-2D 0.00000000 0.00000000 2.91710417 0.00000000 1000.00000000
A-2MZ 0.00000000 0.00000000 2.88932639 0.00000000 969.73565895
M-1 0.00000000 0.00000000 2.97265972 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.97960417 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 3.00738194 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.07682639 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 3.10460416 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 3.13932639 0.00000000 1000.00000000
M-7 0.00000000 0.00000000 3.44488195 0.00000000 1000.00000000
M-8 0.00000000 0.00000000 3.56988194 0.00000000 1000.00000000
M-9 0.00000000 0.00000000 3.88238195 0.00000000 1000.00000000
M-10 0.00000000 0.00000000 4.05599305 0.00000000 1000.00000000
M-11 0.00000000 0.00000000 4.75043750 0.00000000 1000.00000000
M-12 0.00000000 0.00000000 4.40321528 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 4.40321527 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 4.40321529 0.00000000 1000.00000000
CE 0.00000000 0.00000000 431.78536176 0.00000000 999.90144029
R-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 2918838.40000000 0.00000000 1000.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 27,656,777.74
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 291,883.84
Total Deposits 27,948,661.58
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 426,259.89
Payment of Interest and Principal 27,522,401.69
Total Withdrawals (Pool Distribution Amount) 27,948,661.58
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 413,844.55
Credit Risk Manager Fee 12,415.34
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 426,259.89
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Cap Carryover 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 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 47 0 0 0 47
8,920,046.60 0.00 0.00 0.00 8,920,046.60
60 Days 2 0 0 0 2
613,350.00 0.00 0.00 0.00 613,350.00
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 49 0 0 0 49
9,533,396.60 0.00 0.00 0.00 9,533,396.60
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.916537% 0.000000% 0.000000% 0.000000% 0.916537%
0.905303% 0.000000% 0.000000% 0.000000% 0.905303%
60 Days 0.039002% 0.000000% 0.000000% 0.000000% 0.039002%
0.062249% 0.000000% 0.000000% 0.000000% 0.062249%
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 0.955538% 0.000000% 0.000000% 0.000000% 0.955538%
0.967553% 0.000000% 0.000000% 0.000000% 0.967553%
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 7 0 0 0 7
339,603.27 0.00 0.00 0.00 339,603.27
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 7 0 0 0 7
339,603.27 0.00 0.00 0.00 339,603.27
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.851582% 0.000000% 0.000000% 0.000000% 0.851582%
0.603101% 0.000000% 0.000000% 0.000000% 0.603101%
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 0.851582% 0.000000% 0.000000% 0.000000% 0.851582%
0.603101% 0.000000% 0.000000% 0.000000% 0.603101%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 10 0 0 0 10
1,503,117.41 0.00 0.00 0.00 1,503,117.41
60 Days 1 0 0 0 1
221,350.00 0.00 0.00 0.00 221,350.00
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 11 0 0 0 11
1,724,467.41 0.00 0.00 0.00 1,724,467.41
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.802568% 0.000000% 0.000000% 0.000000% 0.802568%
0.639232% 0.000000% 0.000000% 0.000000% 0.639232%
60 Days 0.080257% 0.000000% 0.000000% 0.000000% 0.080257%
0.094134% 0.000000% 0.000000% 0.000000% 0.094134%
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 0.882825% 0.000000% 0.000000% 0.000000% 0.882825%
0.733366% 0.000000% 0.000000% 0.000000% 0.733366%
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 12 0 0 0 12
1,148,735.89 0.00 0.00 0.00 1,148,735.89
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 12 0 0 0 12
1,148,735.89 0.00 0.00 0.00 1,148,735.89
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.992556% 0.000000% 0.000000% 0.000000% 0.992556%
0.904866% 0.000000% 0.000000% 0.000000% 0.904866%
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 0.992556% 0.000000% 0.000000% 0.000000% 0.992556%
0.904866% 0.000000% 0.000000% 0.000000% 0.904866%
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 18 0 0 0 18
5,928,590.03 0.00 0.00 0.00 5,928,590.03
60 Days 1 0 0 0 1
392,000.00 0.00 0.00 0.00 392,000.00
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 19 0 0 0 19
6,320,590.03 0.00 0.00 0.00 6,320,590.03
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.972447% 0.000000% 0.000000% 0.000000% 0.972447%
1.071754% 0.000000% 0.000000% 0.000000% 1.071754%
60 Days 0.054025% 0.000000% 0.000000% 0.000000% 0.054025%
0.070865% 0.000000% 0.000000% 0.000000% 0.070865%
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 1.026472% 0.000000% 0.000000% 0.000000% 1.026472%
1.142618% 0.000000% 0.000000% 0.000000% 1.142618%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 65,684.90
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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current REO Total Mar-05 0.000%
Loans in REO 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
REO Loan Detail - All Mortgage Loans in REO during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number REO Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No REO loans this period.
REO Loan Detail - All Mortgage Loans in REO during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No REO loans this period.
Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period
Summary 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
1 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-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 Nov-04 0.000%
Original Principal Balance 0.00 Dec-04 0.000%
Current Principal Balance 0.00 Jan-05 0.000%
Feb-05 0.000%
Current Foreclosure Total Mar-05 0.000%
Loans in Foreclosure 0 Apr-05 0.000%
Original Principal Balance 0.00 May-05 0.000%
Current Principal Balance 0.00 Jun-05 0.000%
Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 7.083498%
Weighted Average Net Coupon 6.590319%
Weighted Average Pass-Through Rate 6.583498%
Weighted Average Maturity(Stepdown Calculation) 338
Beginning Scheduled Collateral Loan Count 5,216
Number Of Loans Paid In Full 88
Ending Scheduled Collateral Loan Count 5,128
Beginning Scheduled Collateral Balance 1,006,965,423.42
Ending Scheduled Collateral Balance 984,859,518.10
Ending Actual Collateral Balance at 30-Sep-2005 985,310,448.78
Monthly P&I Constant 6,384,638.69
Special Servicing Fee 0.00
Prepayment Penalties 291,883.84
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 971,121,022.38
Scheduled Principal 521,704.78
Unscheduled Principal 21,584,200.54
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 496.28
Specified O/C Amount 5,034,827.12
Overcollateralized Amount 5,034,827.12
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 0.00
Excess Cash Amount 2,161,197.87
Miscellaneous Reporting
Group 1 Available Funds 7,553,576.67
Group 2 Available Funds 20,293,301.85
A1 Cap 0.00
A2 Cap 0.00
B1 Cap 0.00
B2 Cap 0.00
M1 Cap 0.00
M10 Cap 0.00
M11 Cap 0.00
M12 Cap 0.00
M2 Cap 0.00
M3 Cap 0.00
M4 Cap 0.00
M5 Cap 0.00
M6 Cap 0.00
M7 Cap 0.00
M8 Cap 0.00
M9 Cap 0.00
OC Amount 5,034,827.12
OC Deficiency Amount 0.00
Trigger Event 0.00
Group Level Collateral Statement
Group 1 1 2
Collateral Description Mixed Fixed Mixed ARM Mixed Fixed
Weighted Average Coupon Rate 8.232451 6.821530 8.678795
Weighted Average Net Rate 7.407140 5.869155 8.424208
Pass-Through Rate 7.732451 6.321530 8.178795
Weighted Average Maturity 340 340 335
Record Date 09/30/2005 09/30/2005 09/30/2005
Principal And Interest Constant 434,263.10 1,493,119.91 1,019,585.27
Beginning Loan Count 831 1,267 1,227
Loans Paid In Full 9 21 18
Ending Loan Count 822 1,246 1,209
Beginning Scheduled Balance 57,051,453.33 239,886,662.07 128,882,298.47
Ending Scheduled Balance 56,275,350.07 235,032,404.32 126,880,133.97
Scheduled Principal 42,868.71 129,458.26 87,466.10
Unscheduled Principal 733,234.55 4,724,799.49 1,914,698.40
Scheduled Interest 391,394.39 1,363,661.65 932,119.17
Servicing Fees 23,771.44 99,952.78 53,700.95
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 367,622.95 1,263,708.87 878,418.22
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
Group Level Collateral Statement
Group 2 Total
Collateral Description Mixed ARM Fixed & Mixed ARM
Weighted Average Coupon Rate 6.716367 7.083498
Weighted Average Net Rate 6.244298 6.590319
Pass-Through Rate 6.216367 6.583498
Weighted Average Maturity 335 338
Record Date 09/30/2005 09/30/2005
Principal And Interest Constant 3,437,670.41 6,384,638.69
Beginning Loan Count 1,891 5,216
Loans Paid In Full 40 88
Ending Loan Count 1,851 5,128
Beginning Scheduled Balance 567,406,513.83 993,226,927.70
Ending scheduled Balance 552,933,134.02 971,121,022.38
Scheduled Principal 261,911.71 521,704.78
Unscheduled Principal 14,211,468.10 21,584,200.54
Scheduled Interest 3,175,758.70 5,862,933.91
Servicing Fees 236,419.38 413,844.55
Master Servicing Fees 0.00 0.00
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 0.00 0.00
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 0.00
Spread 2 0.00 0.00
Spread 3 0.00 0.00
Net Interest 2,939,339.32 5,449,089.36
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
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 9 732,050.00 730,529.23 0 0.00 0.00
1 21 4,737,761.00 4,726,566.46 0 0.00 0.00
2 18 1,741,268.00 1,738,667.27 0 0.00 0.00
2 40 14,231,304.00 14,206,138.76 0 0.00 0.00
Total 88 21,442,383.00 21,401,901.72 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 3,185.22
1 0 0.00 0.00 0 0.00 0.00 1,291.41
2 0 0.00 0.00 0 0.00 0.00 176,830.53
2 0 0.00 0.00 0 0.00 0.00 12,932.65
Total 0 0.00 0.00 0 0.00 0.00 194,239.81
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 0011190237 WA 80.00 01-Jun-2005 119,200.00 118,763.12
1 0011190255 WA 100.00 01-Jun-2005 29,800.00 29,736.29
1 0011212270 CA 100.00 01-Jul-2005 66,000.00 65,901.94
1 0011212393 WA 100.00 01-Jul-2005 20,000.00 19,964.08
1 0011213042 FL 95.00 01-Jul-2005 17,250.00 17,229.94
1 0011213574 CA 100.00 01-Jul-2005 55,400.00 55,282.29
1 0011214813 MD 90.00 01-Jul-2005 153,000.00 152,568.22
1 0011218464 TN 100.00 01-Jul-2005 21,400.00 21,352.60
1 0011220797 TN 55.56 01-Jul-2005 250,000.00 249,250.85
1 0011165579 CA 95.00 01-May-2005 218,500.00 217,407.45
1 0011184387 NY 90.00 01-Jun-2005 355,500.00 354,279.12
1 0011185177 CA 80.00 01-Jul-2005 280,000.00 280,000.00
1 0011189281 MD 90.00 01-Jun-2005 270,000.00 269,999.50
1 0011195980 IL 72.58 01-Jun-2005 90,000.00 89,594.66
1 0011196391 CA 80.00 01-Jul-2005 216,000.00 215,133.40
1 0011196972 NV 90.00 01-Jul-2005 251,811.00 251,145.39
1 0011200163 GA 90.00 01-Jun-2005 143,100.00 143,100.00
1 0011202142 CA 94.01 01-Jun-2005 267,000.00 266,929.75
1 0011203307 MD 80.00 01-Jun-2005 124,000.00 123,122.65
1 0011203558 CA 80.00 01-Jul-2005 275,200.00 274,880.60
1 0011209790 FL 80.00 01-Jul-2005 166,400.00 165,784.88
1 0011212263 CA 80.00 01-Jul-2005 264,000.00 263,083.10
1 0011215474 NJ 57.94 01-Jul-2005 135,000.00 134,585.31
1 0011216608 IL 95.00 01-Jul-2005 289,750.00 289,040.37
1 0011217421 CA 80.00 01-Jul-2005 252,000.00 251,054.41
1 0011219250 CA 65.28 01-Jul-2005 235,000.00 234,011.49
1 0011224163 NY 70.00 01-Jul-2005 315,000.00 313,571.98
1 0011228419 AZ 90.00 01-Jun-2005 193,500.00 192,893.26
1 0011228526 FL 80.00 01-Jun-2005 156,000.00 155,216.31
1 0011230947 CA 35.04 01-Jun-2005 240,000.00 238,674.45
2 0011179101 CA 100.00 01-Jul-2005 85,000.00 84,870.26
2 0011192714 CA 97.00 01-Jun-2005 128,000.00 127,761.11
2 0011193096 FL 70.00 01-Jul-2005 72,800.00 72,638.80
2 0011194317 CA 100.00 01-Jun-2005 65,600.00 65,452.16
2 0011198614 CA 100.00 01-Jun-2005 43,000.00 42,919.80
2 0011199501 AZ 100.00 01-Jul-2005 40,265.00 40,192.70
2 0011199668 CA 100.00 01-Jul-2005 76,000.00 75,887.08
2 0011211038 CA 100.00 01-Jul-2005 115,000.00 114,814.79
2 0011211446 CA 100.00 01-Jul-2005 125,000.00 124,692.98
2 0011212161 CA 100.00 01-Jul-2005 123,995.00 123,734.87
2 0011212221 CA 100.00 01-Jul-2005 120,520.00 120,340.95
2 0011212898 NY 100.00 01-Jul-2005 77,200.00 77,026.69
2 0011215761 CA 100.00 01-Jul-2005 124,000.00 123,696.33
2 0011216345 MO 100.00 01-Jul-2005 31,980.00 31,916.31
2 0011221033 CA 100.00 01-Jul-2005 127,200.00 126,971.61
2 0011229638 MD 100.00 01-Jul-2005 119,000.00 118,736.53
2 0011229984 CA 100.00 01-Jul-2005 151,708.00 151,421.40
2 0011232097 CA 100.00 01-Jul-2005 115,000.00 114,793.50
2 0011152773 AZ 90.00 01-Jul-2005 204,245.00 203,645.05
2 0011172092 CA 80.00 01-May-2005 440,000.00 437,210.44
2 0011178405 CT 80.00 01-Jul-2005 480,000.00 478,409.24
2 0011179100 CA 80.00 01-Jul-2005 340,000.00 338,908.10
2 0011182876 CA 80.00 01-Jun-2005 400,000.00 400,000.00
2 0011185777 CA 85.00 01-Jun-2005 374,000.00 372,559.45
2 0011190188 MA 83.80 01-Jul-2005 238,000.00 237,111.21
2 0011191187 AZ 80.00 01-Jun-2005 123,200.00 122,759.59
2 0011192160 DE 90.00 01-Jul-2005 377,910.00 376,589.60
2 0011192628 CA 80.00 01-Jul-2005 185,965.00 185,343.87
2 0011194041 CA 90.00 01-Jul-2005 607,500.00 605,643.07
2 0011194658 CA 85.00 01-Jul-2005 382,500.00 381,353.82
2 0011196394 CA 64.94 01-Jul-2005 250,000.00 249,250.85
2 0011197564 VA 90.00 01-Jul-2005 211,500.00 210,914.99
2 0011202705 AZ 80.00 01-Jun-2005 197,264.00 197,226.43
2 0011202874 IL 95.00 01-Jun-2005 332,072.00 331,051.79
2 0011203685 CA 85.00 01-Jun-2005 399,500.00 397,657.27
2 0011205541 CA 68.64 01-Jun-2005 429,000.00 428,017.38
2 0011206062 CA 80.00 01-Jul-2005 316,800.00 315,616.93
2 0011206277 CA 90.00 01-Jul-2005 522,000.00 521,234.86
2 0011210006 CA 75.00 01-Jul-2005 634,021.00 632,954.14
2 0011211868 CA 67.42 01-Jul-2005 300,000.00 299,665.10
2 0011212164 CA 80.00 01-Jul-2005 495,995.00 495,995.00
2 0011213122 VA 85.00 01-Jul-2005 306,000.00 305,632.91
2 0011213271 CA 85.00 01-Jul-2005 100,300.00 100,178.82
2 0011214056 WI 90.00 01-Jul-2005 153,000.00 152,472.14
2 0011216100 IL 85.00 01-Jul-2005 72,250.00 72,043.62
2 0011217094 CA 80.00 01-Jul-2005 581,600.00 581,441.87
2 0011219107 MD 85.00 01-Jul-2005 270,300.00 270,056.93
2 0011219573 DC 80.00 01-Jul-2005 380,000.00 380,000.00
2 0011220994 CA 80.00 01-Jul-2005 460,000.00 458,425.55
2 0011221031 CA 80.00 01-Jul-2005 508,800.00 508,800.00
2 0011221249 MD 80.00 01-Jul-2005 560,000.00 560,000.00
2 0011222567 VA 85.00 01-Jun-2005 374,000.00 372,696.08
2 0011225008 CA 67.61 01-Jul-2005 240,000.00 239,763.24
2 0011229637 MD 80.00 01-Jul-2005 476,000.00 475,003.75
2 0011229900 CA 80.00 01-Jul-2005 606,832.00 604,454.64
2 0011234110 CA 88.03 01-Jul-2005 515,000.00 513,751.56
2 0011237226 IL 44.62 01-Jul-2005 58,000.00 57,885.14
2 0011237697 IL 95.00 01-Jul-2005 327,750.00 326,811.02
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 0011190237 Loan Paid in Full (1) 7.625% 360 4
1 0011190255 Loan Paid in Full (1) 10.240% 180 4
1 0011212270 Loan Paid in Full 0 10.875% 180 3
1 0011212393 Loan Paid in Full 0 9.990% 180 3
1 0011213042 Loan Paid in Full 0 11.990% 180 3
1 0011213574 Loan Paid in Full 0 9.250% 180 3
1 0011214813 Loan Paid in Full 1 7.800% 360 3
1 0011218464 Loan Paid in Full 0 8.990% 180 3
1 0011220797 Loan Paid in Full 0 7.500% 360 3
1 0011165579 Loan Paid in Full 0 6.990% 360 5
1 0011184387 Loan Paid in Full 0 7.950% 360 4
1 0011185177 Loan Paid in Full 0 5.500% 360 3
1 0011189281 Loan Paid in Full 0 6.700% 360 4
1 0011195980 Loan Paid in Full 0 6.575% 360 4
1 0011196391 Loan Paid in Full 0 6.000% 360 3
1 0011196972 Loan Paid in Full 0 8.125% 360 3
1 0011200163 Loan Paid in Full 0 6.825% 360 4
1 0011202142 Loan Paid in Full 0 7.000% 360 4
1 0011203307 Loan Paid in Full 0 8.275% 360 4
1 0011203558 Loan Paid in Full 0 7.990% 360 3
1 0011209790 Loan Paid in Full 0 7.990% 360 3
1 0011212263 Loan Paid in Full 0 6.750% 360 3
1 0011215474 Loan Paid in Full 0 7.375% 360 3
1 0011216608 Loan Paid in Full 0 8.500% 360 3
1 0011217421 Loan Paid in Full 0 6.350% 360 3
1 0011219250 Loan Paid in Full (1) 5.750% 360 3
1 0011224163 Loan Paid in Full 0 5.350% 360 3
1 0011228419 Loan Paid in Full 1 8.400% 360 4
1 0011228526 Loan Paid in Full (1) 7.250% 360 4
1 0011230947 Loan Paid in Full 1 5.500% 360 4
2 0011179101 Loan Paid in Full 0 10.750% 180 3
2 0011192714 Loan Paid in Full 0 10.875% 180 4
2 0011193096 Loan Paid in Full 0 8.990% 360 3
2 0011194317 Loan Paid in Full 0 9.990% 180 4
2 0011198614 Loan Paid in Full 1 10.875% 180 4
2 0011199501 Loan Paid in Full 0 9.990% 180 3
2 0011199668 Loan Paid in Full 1 10.875% 180 3
2 0011211038 Loan Paid in Full 1 10.500% 180 3
2 0011211446 Loan Paid in Full 0 10.850% 180 3
2 0011212161 Loan Paid in Full (1) 9.250% 180 3
2 0011212221 Loan Paid in Full 0 10.875% 180 3
2 0011212898 Loan Paid in Full 0 9.990% 180 3
2 0011215761 Loan Paid in Full 0 8.500% 180 3
2 0011216345 Loan Paid in Full 0 9.500% 180 3
2 0011221033 Loan Paid in Full 0 9.990% 180 3
2 0011229638 Loan Paid in Full 0 8.990% 180 3
2 0011229984 Loan Paid in Full 0 9.750% 180 3
2 0011232097 Loan Paid in Full 1 9.990% 180 3
2 0011152773 Loan Paid in Full 0 7.600% 360 3
2 0011172092 Loan Paid in Full 0 5.750% 360 5
2 0011178405 Loan Paid in Full 0 6.990% 360 3
2 0011179100 Loan Paid in Full 0 7.150% 360 3
2 0011182876 Loan Paid in Full 0 6.990% 360 4
2 0011185777 Loan Paid in Full 0 7.375% 360 4
2 0011190188 Loan Paid in Full 0 6.375% 360 3
2 0011191187 Loan Paid in Full 0 7.750% 360 4
2 0011192160 Loan Paid in Full 0 7.250% 360 3
2 0011192628 Loan Paid in Full 0 6.950% 360 3
2 0011194041 Loan Paid in Full 0 7.400% 360 3
2 0011194658 Loan Paid in Full 0 7.500% 360 3
2 0011196394 Loan Paid in Full 0 7.500% 360 3
2 0011197564 Loan Paid in Full 0 7.900% 360 3
2 0011202705 Loan Paid in Full 0 6.250% 360 4
2 0011202874 Loan Paid in Full 0 8.500% 360 4
2 0011203685 Loan Paid in Full 0 6.451% 360 4
2 0011205541 Loan Paid in Full 1 6.375% 360 4
2 0011206062 Loan Paid in Full 1 6.375% 360 3
2 0011206277 Loan Paid in Full 0 7.170% 360 3
2 0011210006 Loan Paid in Full 1 6.675% 360 3
2 0011211868 Loan Paid in Full 1 8.125% 360 3
2 0011212164 Loan Paid in Full (1) 6.490% 360 3
2 0011213122 Loan Paid in Full 0 7.875% 360 3
2 0011213271 Loan Paid in Full 0 7.850% 360 3
2 0011214056 Loan Paid in Full 0 6.790% 360 3
2 0011216100 Loan Paid in Full (2) 7.740% 360 3
2 0011217094 Loan Paid in Full 0 6.490% 360 3
2 0011219107 Loan Paid in Full 1 8.865% 360 3
2 0011219573 Loan Paid in Full 0 6.500% 360 3
2 0011220994 Loan Paid in Full 0 6.825% 360 3
2 0011221031 Loan Paid in Full 0 7.750% 360 3
2 0011221249 Loan Paid in Full 0 6.550% 360 3
2 0011222567 Loan Paid in Full 0 7.875% 360 4
2 0011225008 Loan Paid in Full 0 8.550% 360 3
2 0011229637 Loan Paid in Full 0 5.875% 360 3
2 0011229900 Loan Paid in Full 0 6.125% 360 3
2 0011234110 Loan Paid in Full 0 8.550% 360 3
2 0011237226 Loan Paid in Full 0 9.525% 360 3
2 0011237697 Loan Paid in Full (1) 7.725% 360 3
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.174% Current Month 23.187% Current Month 3,483.069%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 23.187% N/A Oct-2005 3,483.069% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.286% Current Month 14.388% Current Month 2,143.952%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 14.388% N/A Oct-2005 2,143.952% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.971% Current Month 21.246% Current Month 3,187.102%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 21.246% N/A Oct-2005 3,187.102% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.487% Current Month 16.451% Current Month 2,424.256%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 16.451% N/A Oct-2005 2,424.256% N/A
*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 2.506% Current Month 26.253% Current Month 3,966.903%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 26.253% N/A Oct-2005 3,966.903% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
1 0 0.00 0.00 0.000%
1 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*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>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*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>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*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>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*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>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*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>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*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>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*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>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*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>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*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>
Nov-2004 N/A N/A Nov-2004 N/A N/A
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
*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>