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): December 27, 2005
FBR SECURITIZATION TRUST
Mortgage-Backed Notes, Series 2005-5
(Exact name of registrant as specified in its charter)
New York (governing law of 333-127901-05
Pooling and Servicing Agreement) (Commission N/A
(State or other File Number) IRS EIN
jurisdiction
of Incorporation)
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
On December 27, 2005 a distribution was made to holders of FBR SECURITIZATION
TRUST, Mortgage-Backed Notes, Series 2005-5 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Mortgage-Backed Notes, Series 2005-5
Trust, relating to the December 27, 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.
FBR SECURITIZATION TRUST
Mortgage-Backed Notes, Series 2005-5 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Securities Administrator
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 1/3/2006
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Mortgage-Backed Notes, Series 2005-5 Trust, relating
to the December 27, 2005 distribution.
EX-99.1
Friedman, Billings, Ramsey & Co., Inc.
Mortgage-Backed Notes
Record Date: 11/30/2005
Distribution Date: 12/27/2005
Friedman, Billings, Ramsey & Co., Inc.
Mortgage-Backed Notes
Series 2005-5
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
Class CUSIP Certificate Beginning Interest
Pass-Through Certificate Distribution
Rate Balance
<s> <c> <c> <c> <c>
AV1 30246QDB6 4.60940% 288,200,000.00 442,809.69
AV2-1 30246QCK7 4.48940% 136,904,000.00 204,872.27
AV2-2 30246QCL5 4.57940% 60,827,000.00 92,850.39
AV2-3 30246QCM3 4.61940% 66,394,000.00 102,233.48
AV2-4 30246QCN1 4.73940% 41,119,000.00 64,959.80
M-1 30246QCP6 4.82940% 30,221,000.00 48,649.77
M-2 30246QCQ4 4.83940% 27,866,000.00 44,951.57
M-3 30246QCR2 4.85940% 19,231,000.00 31,150.37
M-4 30246QCS0 5.01940% 13,344,000.00 22,326.29
M-5 30246QCT8 5.08940% 13,344,000.00 22,637.65
M-6 30246QCU5 5.21940% 12,559,000.00 21,850.15
M-7 30246QCV3 6.36940% 12,167,000.00 25,832.16
M-8 30246QCW1 6.61940% 8,634,000.00 19,050.63
M-9 30246QCX9 6.61940% 9,812,000.00 21,649.85
M-10 30246QCY7 6.61940% 7,457,000.00 16,453.62
M-11 30246QCZ4 6.61940% 7,849,000.00 17,318.56
M-12 30246QDA8 6.61940% 13,345,000.00 29,445.30
N 30246QDC4 5.00000% 14,000,000.00 23,333.33
OWNTRST FBR0505OT 0.00000% 0.00 0.00
Totals 783,273,000.00 1,252,374.88
Certificateholder Distribution Summary (continued)
Class Principal Current Ending Total Cummulative
Distribution Realized Certificate Distribution Realized
Loss Balance Losses
<s> <c> <c> <c> <c> <c>
AV1 5,240,504.66 0.00 282,959,495.34 5,683,314.35 0.00
AV2-1 5,313,149.58 0.00 131,590,850.42 5,518,021.85 0.00
AV2-2 0.00 0.00 60,827,000.00 92,850.39 0.00
AV2-3 0.00 0.00 66,394,000.00 102,233.48 0.00
AV2-4 0.00 0.00 41,119,000.00 64,959.80 0.00
M-1 0.00 0.00 30,221,000.00 48,649.77 0.00
M-2 0.00 0.00 27,866,000.00 44,951.57 0.00
M-3 0.00 0.00 19,231,000.00 31,150.37 0.00
M-4 0.00 0.00 13,344,000.00 22,326.29 0.00
M-5 0.00 0.00 13,344,000.00 22,637.65 0.00
M-6 0.00 0.00 12,559,000.00 21,850.15 0.00
M-7 0.00 0.00 12,167,000.00 25,832.16 0.00
M-8 0.00 0.00 8,634,000.00 19,050.63 0.00
M-9 0.00 0.00 9,812,000.00 21,649.85 0.00
M-10 0.00 0.00 7,457,000.00 16,453.62 0.00
M-11 0.00 0.00 7,849,000.00 17,318.56 0.00
M-12 1,662,506.14 0.00 11,682,493.86 1,691,951.44 0.00
N 1,715,183.42 0.00 12,284,816.58 1,738,516.75 0.00
OWNTRST 0.00 0.00 0.00 0.00 0.00
Totals 13,931,343.80 0.00 769,341,656.20 15,183,718.68 0.00
<FN>
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
Class Original Beginning Scheduled UnScheduled Accretion Realized
Face Certificate Principal Principal Loss
Amount Balance Distribution Distribution
<s> <c> <c> <c> <c> <c> <c>
AV1 288,200,000.00 288,200,000.00 0.00 5,240,504.66 0.00 0.00
AV2-1 136,904,000.00 136,904,000.00 0.00 5,313,149.58 0.00 0.00
AV2-2 60,827,000.00 60,827,000.00 0.00 0.00 0.00 0.00
AV2-3 66,394,000.00 66,394,000.00 0.00 0.00 0.00 0.00
AV2-4 41,119,000.00 41,119,000.00 0.00 0.00 0.00 0.00
M-1 30,221,000.00 30,221,000.00 0.00 0.00 0.00 0.00
M-2 27,866,000.00 27,866,000.00 0.00 0.00 0.00 0.00
M-3 19,231,000.00 19,231,000.00 0.00 0.00 0.00 0.00
M-4 13,344,000.00 13,344,000.00 0.00 0.00 0.00 0.00
M-5 13,344,000.00 13,344,000.00 0.00 0.00 0.00 0.00
M-6 12,559,000.00 12,559,000.00 0.00 0.00 0.00 0.00
M-7 12,167,000.00 12,167,000.00 0.00 0.00 0.00 0.00
M-8 8,634,000.00 8,634,000.00 0.00 0.00 0.00 0.00
M-9 9,812,000.00 9,812,000.00 0.00 0.00 0.00 0.00
M-10 7,457,000.00 7,457,000.00 0.00 0.00 0.00 0.00
M-11 7,849,000.00 7,849,000.00 0.00 0.00 0.00 0.00
M-12 13,345,000.00 13,345,000.00 0.00 1,662,506.14 0.00 0.00
N 14,000,000.00 14,000,000.00 0.00 1,715,183.42 0.00 0.00
OWNTRST 0.00 0.00 0.00 0.00 0.00 0.00
Totals 783,273,000.00 783,273,000.00 0.00 13,931,343.80 0.00 0.00
Principal Distribution Statement (continued)
Class Total Ending Ending Total
Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
AV1 5,240,504.66 282,959,495.34 0.981816 5,240,504.66
AV2-1 5,313,149.58 131,590,850.42 0.961191 5,313,149.58
AV2-2 0.00 60,827,000.00 1.000000 0.00
AV2-3 0.00 66,394,000.00 1.000000 0.00
AV2-4 0.00 41,119,000.00 1.000000 0.00
M-1 0.00 30,221,000.00 1.000000 0.00
M-2 0.00 27,866,000.00 1.000000 0.00
M-3 0.00 19,231,000.00 1.000000 0.00
M-4 0.00 13,344,000.00 1.000000 0.00
M-5 0.00 13,344,000.00 1.000000 0.00
M-6 0.00 12,559,000.00 1.000000 0.00
M-7 0.00 12,167,000.00 1.000000 0.00
M-8 0.00 8,634,000.00 1.000000 0.00
M-9 0.00 9,812,000.00 1.000000 0.00
M-10 0.00 7,457,000.00 1.000000 0.00
M-11 0.00 7,849,000.00 1.000000 0.00
M-12 1,662,506.14 11,682,493.86 0.875421 1,662,506.14
N 1,715,183.42 12,284,816.58 0.877487 1,715,183.42
OWNTRST 0.00 0.00 0.000000 0.00
Totals 13,931,343.80 769,341,656.20 0.982214 13,931,343.80
Principal Distribution Factors Statement
Class Original Beginning Scheduled UnScheduled Accretion
Face Certificate Principal Principal
Amount Balance Distribution Distribution
<s> <c> <c> <c> <c> <c>
AV1 288,200,000.00 1000.000000 0.000000 18.183569 0.000000
AV2-1 136,904,000.00 1000.000000 0.000000 38.809309 0.000000
AV2-2 60,827,000.00 1000.000000 0.000000 0.000000 0.000000
AV2-3 66,394,000.00 1000.000000 0.000000 0.000000 0.000000
AV2-4 41,119,000.00 1000.000000 0.000000 0.000000 0.000000
M-1 30,221,000.00 1000.000000 0.000000 0.000000 0.000000
M-2 27,866,000.00 1000.000000 0.000000 0.000000 0.000000
M-3 19,231,000.00 1000.000000 0.000000 0.000000 0.000000
M-4 13,344,000.00 1000.000000 0.000000 0.000000 0.000000
M-5 13,344,000.00 1000.000000 0.000000 0.000000 0.000000
M-6 12,559,000.00 1000.000000 0.000000 0.000000 0.000000
M-7 12,167,000.00 1000.000000 0.000000 0.000000 0.000000
M-8 8,634,000.00 1000.000000 0.000000 0.000000 0.000000
M-9 9,812,000.00 1000.000000 0.000000 0.000000 0.000000
M-10 7,457,000.00 1000.000000 0.000000 0.000000 0.000000
M-11 7,849,000.00 1000.000000 0.000000 0.000000 0.000000
M-12 13,345,000.00 1000.000000 0.000000 124.578954 0.000000
N 14,000,000.00 1000.000000 0.000000 122.513101 0.000000
OWNTRST 0.00 0.000000 0.000000 0.000000 0.000000
Principal Distribution Factors Statement (continued)
Class Realized Total Ending Ending Total
Loss Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
AV1 0.000000 18.183569 981.816431 0.981816 18.183569
AV2-1 0.000000 38.809309 961.190691 0.961191 38.809309
AV2-2 0.000000 0.000000 1,000.000000 1.000000 0.000000
AV2-3 0.000000 0.000000 1,000.000000 1.000000 0.000000
AV2-4 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-1 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-2 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-3 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-4 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-5 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-6 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-7 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-8 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-9 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-10 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-11 0.000000 0.000000 1,000.000000 1.000000 0.000000
M-12 0.000000 124.578954 875.421046 0.875421 124.578954
N 0.000000 122.513101 877.486899 0.877487 122.513101
OWNTRST 0.000000 0.000000 0.000000 0.000000 0.000000
<FN>
All Classes are per $1,000 denomination
</FN>
Interest Distribution Statement
Class Accrual Accrual Current Beginning Current Payment of
Dates Days Certificate Certificate/ Accrued Unpaid Interest
Rate Notional Balance Interest Shortfall
<s> <c> <c> <c> <c> <c> <c>
AV1 12/15/05 - 12/26/05 12 4.60940% 288,200,000.00 442,809.69 0.00
AV2-1 12/15/05 - 12/26/05 12 4.48940% 136,904,000.00 204,872.27 0.00
AV2-2 12/15/05 - 12/26/05 12 4.57940% 60,827,000.00 92,850.39 0.00
AV2-3 12/15/05 - 12/26/05 12 4.61940% 66,394,000.00 102,233.48 0.00
AV2-4 12/15/05 - 12/26/05 12 4.73940% 41,119,000.00 64,959.80 0.00
M-1 12/15/05 - 12/26/05 12 4.82940% 30,221,000.00 48,649.77 0.00
M-2 12/15/05 - 12/26/05 12 4.83940% 27,866,000.00 44,951.57 0.00
M-3 12/15/05 - 12/26/05 12 4.85940% 19,231,000.00 31,150.37 0.00
M-4 12/15/05 - 12/26/05 12 5.01940% 13,344,000.00 22,326.29 0.00
M-5 12/15/05 - 12/26/05 12 5.08940% 13,344,000.00 22,637.65 0.00
M-6 12/15/05 - 12/26/05 12 5.21940% 12,559,000.00 21,850.15 0.00
M-7 12/15/05 - 12/26/05 12 6.36940% 12,167,000.00 25,832.16 0.00
M-8 12/15/05 - 12/26/05 12 6.61940% 8,634,000.00 19,050.63 0.00
M-9 12/15/05 - 12/26/05 12 6.61940% 9,812,000.00 21,649.85 0.00
M-10 12/15/05 - 12/26/05 12 6.61940% 7,457,000.00 16,453.62 0.00
M-11 12/15/05 - 12/26/05 12 6.61940% 7,849,000.00 17,318.56 0.00
M-12 12/15/05 - 12/26/05 12 6.61940% 13,345,000.00 29,445.30 0.00
N 12/15/05 - 12/26/05 12 5.00000% 14,000,000.00 23,333.33 0.00
OWNTRST N/A N/A 0.00000% 0.00 0.00 0.00
Totals 1,252,374.88 0.00
Interest Distribution Statement (continued)
Class Current Non-Supported Total Remaining Ending
Interest Interest Interest Unpaid Interest Certificate/Notional
Shortfall(1) Shortfall Distribution Shortfall(2) Balance
<s> <c> <c> <c> <c> <c>
AV1 0.00 0.00 442,809.69 0.00 282,959,495.34
AV2-1 0.00 0.00 204,872.27 0.00 131,590,850.42
AV2-2 0.00 0.00 92,850.39 0.00 60,827,000.00
AV2-3 0.00 0.00 102,233.48 0.00 66,394,000.00
AV2-4 0.00 0.00 64,959.80 0.00 41,119,000.00
M-1 0.00 0.00 48,649.77 0.00 30,221,000.00
M-2 0.00 0.00 44,951.57 0.00 27,866,000.00
M-3 0.00 0.00 31,150.37 0.00 19,231,000.00
M-4 0.00 0.00 22,326.29 0.00 13,344,000.00
M-5 0.00 0.00 22,637.65 0.00 13,344,000.00
M-6 0.00 0.00 21,850.15 0.00 12,559,000.00
M-7 0.00 0.00 25,832.16 0.00 12,167,000.00
M-8 0.00 0.00 19,050.63 0.00 8,634,000.00
M-9 0.00 0.00 21,649.85 0.00 9,812,000.00
M-10 0.00 0.00 16,453.62 0.00 7,457,000.00
M-11 0.00 0.00 17,318.56 0.00 7,849,000.00
M-12 0.00 0.00 29,445.30 0.00 11,682,493.86
N 0.00 0.00 23,333.33 0.00 12,284,816.58
OWNTRST 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 1,252,374.88 0.00
<FN>
(1,2) Amount also includes coupon cap or basis risk shortfalls,if applicable
</FN>
Interest Distribution Factors Statement
Class Accrual Original Current Beginning Current Payment of
Dates Face Certificate Certificate/Notional Accrued Unpaid Interest
Amount Rate Balance Interest Shortfall
<s> <c> <c> <c> <c> <c> <c>
AV1 12/15/05 - 12/26/05 288,200,000.00 4.60940% 1000.000000 1.536467 0.000000
AV2-1 12/15/05 - 12/26/05 136,904,000.00 4.48940% 1000.000000 1.496467 0.000000
AV2-2 12/15/05 - 12/26/05 60,827,000.00 4.57940% 1000.000000 1.526467 0.000000
AV2-3 12/15/05 - 12/26/05 66,394,000.00 4.61940% 1000.000000 1.539800 0.000000
AV2-4 12/15/05 - 12/26/05 41,119,000.00 4.73940% 1000.000000 1.579800 0.000000
M-1 12/15/05 - 12/26/05 30,221,000.00 4.82940% 1000.000000 1.609800 0.000000
M-2 12/15/05 - 12/26/05 27,866,000.00 4.83940% 1000.000000 1.613133 0.000000
M-3 12/15/05 - 12/26/05 19,231,000.00 4.85940% 1000.000000 1.619800 0.000000
M-4 12/15/05 - 12/26/05 13,344,000.00 5.01940% 1000.000000 1.673133 0.000000
M-5 12/15/05 - 12/26/05 13,344,000.00 5.08940% 1000.000000 1.696467 0.000000
M-6 12/15/05 - 12/26/05 12,559,000.00 5.21940% 1000.000000 1.739800 0.000000
M-7 12/15/05 - 12/26/05 12,167,000.00 6.36940% 1000.000000 2.123133 0.000000
M-8 12/15/05 - 12/26/05 8,634,000.00 6.61940% 1000.000000 2.206466 0.000000
M-9 12/15/05 - 12/26/05 9,812,000.00 6.61940% 1000.000000 2.206467 0.000000
M-10 12/15/05 - 12/26/05 7,457,000.00 6.61940% 1000.000000 2.206466 0.000000
M-11 12/15/05 - 12/26/05 7,849,000.00 6.61940% 1000.000000 2.206467 0.000000
M-12 12/15/05 - 12/26/05 13,345,000.00 6.61940% 1000.000000 2.206467 0.000000
N 12/15/05 - 12/26/05 14,000,000.00 5.00000% 1000.000000 1.666666 0.000000
OWNTRST N/A 0.00 0.00000% 0.000000 0.000000 0.000000
Interest Distribution Factors Statement (continued)
Class Current Non-Supported Total Remaining Unpaid Ending
Interest Interest Interest Interest Certificate/
Shortfall(1) Shortfall Distribution Shortfall(2) Notional Balance
<s> <c> <c> <c> <c> <c>
AV1 0.000000 0.000000 1.536467 0.000000 981.816431
AV2-1 0.000000 0.000000 1.496467 0.000000 961.190691
AV2-2 0.000000 0.000000 1.526467 0.000000 1000.000000
AV2-3 0.000000 0.000000 1.539800 0.000000 1000.000000
AV2-4 0.000000 0.000000 1.579800 0.000000 1000.000000
M-1 0.000000 0.000000 1.609800 0.000000 1000.000000
M-2 0.000000 0.000000 1.613133 0.000000 1000.000000
M-3 0.000000 0.000000 1.619800 0.000000 1000.000000
M-4 0.000000 0.000000 1.673133 0.000000 1000.000000
M-5 0.000000 0.000000 1.696467 0.000000 1000.000000
M-6 0.000000 0.000000 1.739800 0.000000 1000.000000
M-7 0.000000 0.000000 2.123133 0.000000 1000.000000
M-8 0.000000 0.000000 2.206466 0.000000 1000.000000
M-9 0.000000 0.000000 2.206467 0.000000 1000.000000
M-10 0.000000 0.000000 2.206466 0.000000 1000.000000
M-11 0.000000 0.000000 2.206467 0.000000 1000.000000
M-12 0.000000 0.000000 2.206467 0.000000 875.421046
N 0.000000 0.000000 1.666666 0.000000 877.486899
OWNTRST 0.000000 0.000000 0.000000 0.000000 0.000000
<FN>
(1,2) Amount also includes coupon cap or basis risk shortfalls,if applicable.
All Classes are per $1,000 denomination
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 14,459,236.64
Reserve Funds and Credit Enhancements 0.00
Proceeds from Repurchased Loans 0.00
Servicer Advances 988,628.93
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 76,010.61
Swap/Cap Payments 0.00
Total Deposits 15,523,876.18
Withdrawals
Swap Payments 0.00
Reserve Funds and Credit Enhancements 0.00
Reimbursement for Servicer Advances 0.00
Total Administration Fees 340,157.50
Payment of Interest and Principal 15,183,718.68
Total Withdrawals (Pool Distribution Amount) 15,523,876.18
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
ADMINISTRATION FEES
<s> <c>
Gross Servicing Fee* 327,074.52
Credit Risk Manager's Fee 8,176.86
Wells Fargo Bank, NA 4,906.12
Supported Prepayment/Curtailment Interest Shortfall 0.00
Total Administration Fees 340,157.50
<FN>
*Servicer Payees include: JP MORGAN CHASE BANK, NA
</FN>
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 7.485342%
Weighted Average Net Coupon 6.994103%
Weighted Average Pass-Through Rate 6.965342%
Weighted Average Remaining Term 342
Beginning Scheduled Collateral Loan Count 5,228
Number Of Loans Paid In Full 55
Ending Scheduled Collateral Loan Count 5,173
Beginning Scheduled Collateral Balance 798,978,864.45
Ending Scheduled Collateral Balance 774,418,923.05
Ending Actual Collateral Balance at 30-Nov-2005 774,913,558.25
Monthly P&I Constant 5,387,292.61
Special Servicing Fee 0.00
Prepayment Penalty Waived Amount 0.00
Prepayment Penalty Waived Count 0
Prepayment Penalty Paid Amount 76,010.61
Prepayment Penalty Paid Count Not Available
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 490,763.04
Unscheduled Principal 10,069,178.10
Group Level Collateral Statement
<s> <c> <c>
Group Group 1 Group 2 Group 3
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 8.256311 7.402839 9.038681
Weighted Average Net Rate 7.756311 6.902839 8.538681
Weighted Average Remaining Term 279 358 236
Beginning Loan Count 790 2,049 942
Loans Paid In Full 5 25 10
Ending Loan Count 785 2,024 932
Beginning Scheduled Balance 48,604,538.49 332,612,529.67 69,714,296.90
Ending Scheduled Balance 48,286,940.10 327,686,501.59 68,966,432.81
Record Date 11/30/2005 11/30/2005 11/30/2005
Principal And Interest Constant 380,425.74 2,259,397.16 582,949.91
Scheduled Principal 46,013.90 207,499.74 57,845.52
Unscheduled Principal 271,584.49 4,718,528.34 690,018.57
Scheduled Interest 334,411.84 2,051,897.42 525,104.39
Servicing Fee 20,251.89 138,588.55 29,047.62
Master Servicing Fee 303.78 2,078.83 435.71
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 506.30 3,464.71 726.19
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 313,349.87 1,907,765.33 494,894.87
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 Penalty Waived Amount 0.00 0.00 0.00
Prepayment Penalty Waived Count 0 0 0
Prepayment Penalty Paid Amount 76010.61 0.00 0.00
Prepayment Penalty Paid Count Not Available 0 0
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 7.736311 6.882839 8.518681
<FN>
</FN>
Group Level Collateral Statement
<s> <c> <c>
Group Group 4 Total
Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 7.131139 7.485342
Weighted Average Net Rate 6.631139 6.994103
Weighted Average Remaining Term 358 342
Beginning Loan Count 1,447 5,228
Loans Paid In Full 15 55
Ending Loan Count 1,432 5,173
Beginning Scheduled Balance 334,047,499.13 784,978,864.19
Ending scheduled Balance 329,479,048.55 774,418,923.05
Record Date 11/30/2005 11/30/2005
Principal And Interest Constant 2,164,519.80 5,387,292.61
Scheduled Principal 179,403.88 490,763.04
Unscheduled Principal 4,389,046.70 10,069,178.10
Scheduled Interest 1,985,115.92 4,896,529.57
Servicing Fee 139,186.46 327,074.52
Master Servicing Fee 2,087.80 4,906.12
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 3,479.66 8,176.86
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 1,840,362.00 4,556,372.07
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalty Waived Amount 0.00 0.00
Prepayment Penalty Waived Count 0 0
Prepayment Penalty Paid Amount 0.00 76010.61
Prepayment Penalty Paid Count 0 Not Available
Special Servicing Fee 0.00 0.00
Pass-Through Rate 6.611139 6.965342
<FN>
</FN>
Additional Reporting - Deal Level
Cash Reporting
<s> <c>
Excess Cash Amount 3,318,725.38
Extra Principal Amount 0.00
Miscellaneous Reporting
<s> <c>
Current LIBOR Rate Used 4.36940%
Next Month's LIBOR Rate 4.37875%
Misc. Adj. (8,605.01)
Soldier/Sailor 0.00
Structural Reporting
<s> <c>
OC Increase Amount 1,656,218.98
OC Amount 17,362,083.43
OC Deficiency Amount 0.00
OC Release Amount 0.00
OC Target Amount 17,362,083.43
Aggregate Early Principal Payment Amount 1,662,506.14
Stepdown In Effect? NO
Trigger Event Reporting
<s> <c>
3 Month Delinquency Rate 0.000000%
Delinquency Event In Effect? NO
Senior Enhancement Percentage 24.732720%
Loss Event In Effect? NO
Trigger In Effect? NO
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 75 0 0 0 75
9,231,192.31 0.00 0.00 0.00 9,231,192.31
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 75 0 0 0 75
9,231,192.31 0.00 0.00 0.00 9,231,192.31
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.449836% 0.000000% 0.000000% 0.000000% 1.449836%
1.191254% 0.000000% 0.000000% 0.000000% 1.191254%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 1.449836% 0.000000% 0.000000% 0.000000% 1.449836%
1.191254% 0.000000% 0.000000% 0.000000% 1.191254%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 988,628.93
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 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
Current REO Total May-05 0.000%
Loans in REO 0 Jun-05 0.000%
Original Principal Balance 0.00 Jul-05 0.000%
Current Principal Balance 0.00 Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
Dec-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 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
Current Foreclosure Total May-05 0.000%
Loans in Foreclosure 0 Jun-05 0.000%
Original Principal Balance 0.00 Jul-05 0.000%
Current Principal Balance 0.00 Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
Dec-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.
Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period
Summary 12 Month Bankruptcy History*
New Bankruptcy Loans Month Bankruptcy Percentage
<s> <c> <s> <c>
Loans in Bankruptcy 0 Jan-05 0.000%
Original Principal Balance 0.00 Feb-05 0.000%
Current Principal Balance 0.00 Mar-05 0.000%
Apr-05 0.000%
Current Bankruptcy Total May-05 0.000%
Loans in Bankruptcy 0 Jun-05 0.000%
Original Principal Balance 0.00 Jul-05 0.000%
Current Principal Balance 0.00 Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
Dec-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.
Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period
Group Loan Month Loan First State LTV at Original
Number Entered Payment Origination Principal
Bankruptcy Date Balance
<s> <c> <c> <c> <c> <c> <c>
No Bankruptcy Loans this Period
Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period (continued)
Group Loan Current Paid To Months Current Approximate
Number Principal Date Delinquent Loan Rate Delinquent
Balance Interest
<s> <c> <c> <c> <c> <c> <c>
No Bankruptcy Loans this Period
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>
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>
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 N/A N/A Oct-2005 N/A N/A
Nov-2005 N/A N/A Nov-2005 N/A N/A
Dec-2005 0.000% N/A Dec-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 www. monthly bond remittance report can be viewed online at
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>
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 N/A N/A Oct-2005 N/A N/A
Nov-2005 N/A N/A Nov-2005 N/A N/A
Dec-2005 0.000% N/A Dec-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 www. monthly bond remittance report can be viewed online at
ctslink.com. www.ctslink.com.
<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>
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>
Total 55 10,028,749.00 10,016,416.88 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>
Total 0 0.00 0.00 0 0.00 0.00 58,712.41
Prepayment Loan Detail - Prepayments during Current Period
First Original
Loan LTV at Payment Principal Prepayment
Group Number State Origination Date Balance Amount
<s> <c> <c> <c> <c> <c> <c>
Group 1 0004502498 MD 0.00 01-Sep-2005 67,000.00 66,658.06
Group 1 0004588992 CA 0.00 01-Sep-2005 53,000.00 52,904.80
Group 1 0004639761 MD 0.00 01-Sep-2005 35,000.00 34,819.22
Group 1 0004648911 VA 0.00 01-Oct-2005 67,500.00 67,418.03
Group 1 0004764494 AZ 0.00 01-Sep-2005 42,000.00 41,924.58
Group 2 0004436127 MD 0.00 01-Oct-2005 276,000.00 275,401.11
Group 2 0004489761 HI 0.00 01-Sep-2005 225,000.00 224,684.32
Group 2 0004535977 WA 0.00 01-Sep-2005 118,750.00 118,380.47
Group 2 0004570602 AZ 0.00 01-Sep-2005 262,500.00 262,499.99
Group 2 0004648705 NJ 0.00 01-Sep-2005 112,000.00 111,685.47
Group 2 0004718243 CO 0.00 01-Sep-2005 125,000.00 124,623.57
Group 2 0004733796 WA 0.00 01-Oct-2005 268,000.00 267,593.15
Group 2 0004734935 CA 0.00 01-Oct-2005 320,000.00 319,002.37
Group 2 0004773123 MD 0.00 01-Oct-2005 95,200.00 95,011.28
Group 2 0004800017 FL 0.00 01-Oct-2005 188,400.00 188,006.48
Group 2 0004805784 MD 0.00 01-Oct-2005 300,000.00 300,000.00
Group 2 0004823852 CA 0.00 01-Oct-2005 105,000.00 104,881.95
Group 2 0004845343 FL 0.00 01-Oct-2005 112,000.00 111,680.12
Group 2 0004851259 MD 0.00 01-Oct-2005 146,400.00 146,133.66
Group 2 0004869020 FL 0.00 01-Oct-2005 118,750.00 118,405.27
Group 2 0004874038 FL 0.00 01-Oct-2005 115,500.00 115,163.42
Group 2 0004889440 CA 0.00 01-Oct-2005 272,000.00 271,580.34
Group 2 0004916011 MA 0.00 01-Oct-2005 178,500.00 178,254.42
Group 2 0004919064 FL 0.00 01-Oct-2005 352,000.00 351,142.07
Group 2 0004933651 CT 0.00 01-Oct-2005 235,000.00 234,457.55
Group 2 0005006366 FL 0.00 01-Oct-2005 136,000.00 135,788.17
Group 2 0005020706 PA 0.00 01-Oct-2005 175,000.00 174,487.60
Group 2 0005058664 NJ 0.00 01-Oct-2005 138,750.00 138,637.67
Group 2 0005101225 MD 0.00 01-Nov-2005 160,000.00 159,751.59
Group 2 0005127543 NJ 0.00 01-Nov-2005 177,000.00 176,713.54
Group 3 0003986692 FL 0.00 01-Jun-2005 49,000.00 48,860.00
Group 3 0004236774 CA 0.00 01-Sep-2005 76,000.00 75,519.04
Group 3 0004595427 CA 0.00 01-Sep-2005 110,800.00 110,652.69
Group 3 0004693651 CA 0.00 01-Sep-2005 74,250.00 74,120.58
Group 3 0004722740 CA 0.00 01-Sep-2005 108,000.00 107,829.72
Group 3 0004732582 FL 0.00 01-Sep-2005 15,400.00 15,368.36
Group 3 0004749487 SC 0.00 01-Sep-2005 47,000.00 46,917.53
Group 3 0004771010 UT 0.00 01-Sep-2005 44,500.00 44,391.01
Group 3 0004775011 FL 0.00 01-Oct-2005 46,853.00 46,790.14
Group 3 0004905436 NJ 0.00 01-Oct-2005 100,000.00 99,527.09
Group 4 0004412706 FL 0.00 01-Sep-2005 149,055.00 148,705.33
Group 4 0004487989 FL 0.00 01-Oct-2005 89,428.00 89,119.48
Group 4 0004628129 CA 0.00 01-Sep-2005 143,000.00 142,606.81
Group 4 0004734869 UT 0.00 01-Oct-2005 143,100.00 142,959.17
Group 4 0004749602 SC 0.00 01-Sep-2005 188,000.00 187,495.47
Group 4 0004771598 CA 0.00 01-Oct-2005 135,000.00 134,693.30
Group 4 0004775235 FL 0.00 01-Oct-2005 187,412.00 186,996.28
Group 4 0004850285 NY 0.00 01-Oct-2005 277,500.00 276,760.78
Group 4 0004860078 GA 0.00 01-Oct-2005 368,000.00 368,000.00
Group 4 0004878252 CA 0.00 01-Oct-2005 526,500.00 526,500.00
Group 4 0004905410 NJ 0.00 01-Oct-2005 400,000.00 400,000.00
Group 4 0004979431 NC 0.00 01-Oct-2005 650,000.00 648,030.39
Group 4 0004980819 MD 0.00 01-Nov-2005 487,700.00 486,973.85
Group 4 0005001136 CA 0.00 01-Oct-2005 585,000.00 584,032.15
Group 4 0005149828 PA 0.00 01-Nov-2005 50,001.00 49,926.25
Prepayment Loan Detail - Prepayments during Current Period (continued)
Current
Loan PIF Months Loan Original
Group Number Type Delinquent Rate Term Seasoning
<s> <c> <c> <c> <c> <c> <c>
Group 1 0004502498 Loan Paid in Full 0 10.550% 240 3
Group 1 0004588992 Loan Paid in Full 0 9.990% 180 3
Group 1 0004639761 Loan Paid in Full 0 10.250% 240 3
Group 1 0004648911 Loan Paid in Full 0 10.455% 360 2
Group 1 0004764494 Loan Paid in Full 0 9.990% 180 3
Group 2 0004436127 Loan Paid in Full 0 7.660% 360 2
Group 2 0004489761 Loan Paid in Full 0 11.150% 360 3
Group 2 0004535977 Loan Paid in Full 0 7.310% 360 3
Group 2 0004570602 Loan Paid in Full 0 8.990% 360 3
Group 2 0004648705 Loan Paid in Full 0 7.825% 360 3
Group 2 0004718243 Loan Paid in Full 0 7.475% 360 3
Group 2 0004733796 Loan Paid in Full 0 5.990% 360 2
Group 2 0004734935 Loan Paid in Full 0 5.800% 360 2
Group 2 0004773123 Loan Paid in Full 0 8.130% 360 2
Group 2 0004800017 Loan Paid in Full 0 7.850% 360 2
Group 2 0004805784 Loan Paid in Full 0 6.655% 360 2
Group 2 0004823852 Loan Paid in Full 0 7.080% 360 2
Group 2 0004845343 Loan Paid in Full 0 6.260% 360 2
Group 2 0004851259 Loan Paid in Full 0 8.530% 360 2
Group 2 0004869020 Loan Paid in Full 0 6.175% 360 2
Group 2 0004874038 Loan Paid in Full 0 6.155% 360 2
Group 2 0004889440 Loan Paid in Full 0 5.930% 360 2
Group 2 0004916011 Loan Paid in Full 0 9.870% 360 2
Group 2 0004919064 Loan Paid in Full 0 7.075% 360 2
Group 2 0004933651 Loan Paid in Full 0 7.350% 360 2
Group 2 0005006366 Loan Paid in Full 0 9.280% 360 2
Group 2 0005020706 Loan Paid in Full 0 6.130% 360 2
Group 2 0005058664 Loan Paid in Full 0 8.230% 360 2
Group 2 0005101225 Loan Paid in Full 0 7.290% 360 1
Group 2 0005127543 Loan Paid in Full 0 7.080% 360 1
Group 3 0003986692 Loan Paid in Full 0 10.500% 180 6
Group 3 0004236774 Loan Paid in Full 0 8.650% 240 3
Group 3 0004595427 Loan Paid in Full 0 11.500% 180 3
Group 3 0004693651 Loan Paid in Full 0 10.130% 180 3
Group 3 0004722740 Loan Paid in Full 0 10.600% 180 3
Group 3 0004732582 Loan Paid in Full 0 9.350% 180 3
Group 3 0004749487 Loan Paid in Full 0 10.100% 180 3
Group 3 0004771010 Loan Paid in Full 0 8.500% 180 3
Group 3 0004775011 Loan Paid in Full 0 9.990% 180 2
Group 3 0004905436 Loan Paid in Full 0 8.650% 240 2
Group 4 0004412706 Loan Paid in Full 0 8.710% 360 3
Group 4 0004487989 Loan Paid in Full 0 5.260% 360 2
Group 4 0004628129 Loan Paid in Full 0 7.930% 360 3
Group 4 0004734869 Loan Paid in Full 0 11.425% 360 2
Group 4 0004749602 Loan Paid in Full 0 8.050% 360 3
Group 4 0004771598 Loan Paid in Full 0 7.430% 360 2
Group 4 0004775235 Loan Paid in Full 0 7.550% 360 2
Group 4 0004850285 Loan Paid in Full 0 6.675% 360 2
Group 4 0004860078 Loan Paid in Full 0 8.500% 360 2
Group 4 0004878252 Loan Paid in Full 0 8.850% 360 2
Group 4 0004905410 Loan Paid in Full 0 6.060% 360 2
Group 4 0004979431 Loan Paid in Full 0 5.950% 360 2
Group 4 0004980819 Loan Paid in Full 0 7.500% 360 1
Group 4 0005001136 Loan Paid in Full 0 8.990% 360 2
Group 4 0005149828 Loan Paid in Full 0 7.480% 360 1
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.284% Current Month 14.360% Current Month 3,597.034%
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>
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 N/A N/A Oct-2005 N/A N/A
Nov-2005 N/A N/A Nov-2005 N/A N/A
Dec-2005 14.360% N/A Dec-2005 3,597.034% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Group 1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.559% Current Month 6.509% Current Month 1,255.435%
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>
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 N/A N/A Oct-2005 N/A N/A
Nov-2005 N/A N/A Nov-2005 N/A N/A
Dec-2005 6.509% N/A Dec-2005 1,255.435% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Group 2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.420% Current Month 15.765% Current Month 4,201.153%
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>
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 N/A N/A Oct-2005 N/A N/A
Nov-2005 N/A N/A Nov-2005 N/A N/A
Dec-2005 15.765% N/A Dec-2005 4,201.153% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Group 3
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.991% Current Month 11.260% Current Month 2,118.343%
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>
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 N/A N/A Oct-2005 N/A N/A
Nov-2005 N/A N/A Nov-2005 N/A N/A
Dec-2005 11.260% N/A Dec-2005 2,118.343% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Group 4
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.315% Current Month 14.683% Current Month 3,885.604%
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>
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 N/A N/A Oct-2005 N/A N/A
Nov-2005 N/A N/A Nov-2005 N/A N/A
Dec-2005 14.683% N/A Dec-2005 3,885.604% 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>
Modifications
Loan Beginning Current Prior Modified Prior Modified
Number Balance Balance Rate Rate Payment Payment
<s> <c> <c> <c> <c> <c> <c>
No Modifications this Period
Substitutions
Loans Repurchased Loans Substituted
Loan Current Current Current Loan Current Current Current
Number Balance Rate Payment Number Balance Rate Payment
<s> <c> <c> <c> <c> <c> <c> <c>
No Substitutions this Period
Repurchases
Loan Current Current Current
Number Balance Rate Payment
<s> <c> <c> <c>
No Repurchases this Period
Interest Rate Stratification
Summary
Current Number of Aggregate Percentage of
Interest Rate Loans Outstanding Balance(%)
Range(%) Balance($)
<s> <c> <c> <c> <c>
< 5.000 2 966,716.56 0.125
5.000 5.249 7 1,530,875.11 0.198
5.250 5.499 59 15,136,073.66 1.955
5.500 5.749 94 23,053,900.51 2.977
5.750 5.999 273 62,346,439.75 8.051
6.000 6.249 163 34,718,642.71 4.483
6.250 6.499 305 60,137,152.75 7.765
6.500 6.749 345 69,290,943.74 8.947
6.750 6.999 437 90,157,518.26 11.642
7.000 7.249 242 46,522,924.37 6.007
7.250 7.499 292 52,579,381.13 6.790
7.500 7.749 253 44,400,882.36 5.733
7.750 7.999 282 49,308,201.44 6.367
8.000 8.249 157 25,106,010.23 3.242
8.250 8.499 167 25,591,620.61 3.305
8.500 8.749 233 28,857,994.45 3.726
8.750 8.999 245 27,513,274.85 3.553
9.000 9.249 164 13,880,191.72 1.792
9.250 9.499 197 18,446,959.28 2.382
9.500 9.749 108 11,057,101.18 1.428
9.750 9.999 478 29,316,317.07 3.786
>= 10.000 725 44,499,801.31 5.746
Total 5,228 774,418,923.05 100.000
Supplemental Reporting
<s> <c>
Closing Date
December 15, 2005
Determination Date
With respect to any Payment Date, the Business Day preceding the Servicer Remittance Date.
Payment Date
The 25th day of each month or, if not a Business Day, the next succeeding Business Day, commencing in December 2005.
Servicer Remittance Date
The day in each calendar month on which the Servicer is required to remit payments to the Payment Account, which is
the fourth Business Day following the fifteenth day of such calendar month, commencing ir: December 2005
LIBOR Determination Date
With respect to each Payment Date, the second LIBOR Business Day prior to the first day of the related Interest Accrual Period.
Record Date
As to any Payment Date for any Book-Entry Notes, the last Business Day preceding such Payment Date, and as to any Payment Date for
any Definitive Notes, the last Business Day of the month preceding each Payment Date.