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
IMPAC SECURED ASSETS CORPORATION
Mortgage Pass-Through Certificates, Series 2005-1
(Exact name of registrant as specified in its charter)
New York (governing law of 333-117991-03
Pooling and Servicing Agreement) (Commission 54-2176762
(State or other File Number) 54-2176763
jurisdiction 54-2176764
of Incorporation) IRS EIN
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
On December 27, 2005 a distribution was made to holders of IMPAC SECURED
ASSETS CORPORATION, Mortgage Pass-Through Certificates, Series 2005-1 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Mortgage Pass-Through Certificates,
Series 2005-1 Trust, relating to the
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.
IMPAC SECURED ASSETS CORPORATION
Mortgage Pass-Through Certificates, Series 2005-1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 12/29/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2005-1 Trust,
relating to the December 27, 2005 distribution.
EX-99.1
Impac Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
Record Date: 11/30/2005
Distribution Date: 12/27/2005
Impac Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
Series 2005-1
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Class CUSIP Certificate Beginning Interest
Pass-Through Certificate Distribution
Rate Balance
<s> <c> <c> <c> <c>
1A1 45254TRN6 4.28245% 22,298,877.05 79,578.20
1AX 45254TSK1 0.86000% 0.00 27,950.86
2A1 45254TRP1 5.25256% 13,798,137.24 60,396.27
3A1 45254TRQ9 4.98259% 61,141,254.73 253,868.02
3AX 45254TSL9 0.35000% 0.00 25,332.24
4A1 45254TRR7 5.13899% 11,157,012.35 47,779.86
5A1 45254TRS5 4.46375% 38,698,125.26 153,545.56
5A2 45254TRT3 4.30375% 74,273,670.45 284,138.05
5A3 45254TRU0 4.47375% 160,394,000.00 637,833.47
5A4 45254TRV8 4.57375% 19,837,000.00 80,648.43
5A5 45254TRW6 4.54375% 32,578,661.72 131,581.59
5A6 45254TRX4 4.50375% 42,997,916.95 161,376.56
5A7 45254TRY2 4.54375% 10,749,479.24 43,415.95
5AX 45254TRZ9 1.10868% 0.00 587,736.13
B1 45254TSD7 5.70386% 30,735,235.43 146,091.23
B2 45254TSE5 5.70386% 13,941,570.77 66,267.31
B3 45254TSF2 5.70386% 8,872,181.31 42,171.40
B4 45254TSG0 5.70386% 8,871,181.63 42,166.65
B5 45254TSH8 5.70386% 6,970,785.39 33,133.65
B6 45254TSJ4 5.70386% 5,070,560.29 24,101.47
R1 45254TSA3 4.30428% 0.00 0.00
R2 45254TSB1 4.30428% 0.00 0.00
R3 45254TSC9 4.30428% 0.00 0.00
Totals 562,385,649.81 2,929,112.90
Certificateholder Distribution Summary (continued)
Class Principal Current Ending Total Cummulative
Distribution Realized Certificate Distribution Realized
Loss Balance Losses
<s> <c> <c> <c> <c> <c>
1A1 533,327.80 0.00 21,765,549.25 612,906.00 0.00
1AX 0.00 0.00 0.00 27,950.86 0.00
2A1 304,559.47 0.00 13,493,577.77 364,955.74 0.00
3A1 302,680.95 0.00 60,838,573.78 556,548.97 0.00
3AX 0.00 0.00 0.00 25,332.24 0.00
4A1 1,879.49 0.00 11,155,132.85 49,659.35 0.00
5A1 1,853,560.28 0.00 36,844,564.98 2,007,105.84 0.00
5A2 12,190,248.09 0.00 62,083,422.37 12,474,386.14 0.00
5A3 0.00 0.00 160,394,000.00 637,833.47 0.00
5A4 0.00 0.00 19,837,000.00 80,648.43 0.00
5A5 1,560,450.61 0.00 31,018,211.11 1,692,032.20 0.00
5A6 2,059,511.42 0.00 40,938,405.54 2,220,887.98 0.00
5A7 514,877.85 0.00 10,234,601.38 558,293.80 0.00
5AX 0.00 0.00 0.00 587,736.13 0.00
B1 1,893.54 0.00 30,733,341.89 147,984.77 0.00
B2 858.91 0.00 13,940,711.86 67,126.22 0.00
B3 546.60 0.00 8,871,634.71 42,718.00 0.00
B4 546.54 0.00 8,870,635.09 42,713.19 0.00
B5 429.46 0.00 6,970,355.93 33,563.11 0.00
B6 312.39 0.00 5,070,247.90 24,413.86 0.00
R1 0.00 0.00 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00
Totals 19,325,683.40 0.00 543,059,966.41 22,254,796.30 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>
1A1 25,200,000.00 22,298,877.05 699.26 532,628.54 0.00 0.00
1AX 0.00 0.00 0.00 0.00 0.00 0.00
2A1 18,136,000.00 13,798,137.24 0.00 304,559.47 0.00 0.00
3A1 62,836,000.00 61,141,254.73 972.79 301,708.16 0.00 0.00
3AX 0.00 0.00 0.00 0.00 0.00 0.00
4A1 11,922,000.00 11,157,012.35 1,276.73 602.76 0.00 0.00
5A1 45,000,000.00 38,698,125.26 2,758.75 1,850,801.53 0.00 0.00
5A2 115,719,000.00 74,273,670.45 18,143.38 12,172,104.71 0.00 0.00
5A3 160,394,000.00 160,394,000.00 0.00 0.00 0.00 0.00
5A4 19,837,000.00 19,837,000.00 0.00 0.00 0.00 0.00
5A5 37,884,000.00 32,578,661.72 2,322.50 1,558,128.11 0.00 0.00
5A6 50,000,000.00 42,997,916.95 3,065.28 2,056,446.14 0.00 0.00
5A7 12,500,000.00 10,749,479.24 766.32 514,111.54 0.00 0.00
5AX 0.00 0.00 0.00 0.00 0.00 0.00
B1 30,745,000.00 30,735,235.43 1,893.54 0.00 0.00 0.00
B2 13,946,000.00 13,941,570.77 858.91 0.00 0.00 0.00
B3 8,875,000.00 8,872,181.31 546.60 0.00 0.00 0.00
B4 8,874,000.00 8,871,181.63 546.54 0.00 0.00 0.00
B5 6,973,000.00 6,970,785.39 429.46 0.00 0.00 0.00
B6 5,072,171.20 5,070,560.29 312.39 0.00 0.00 0.00
R1 100.00 0.00 0.00 0.00 0.00 0.00
R2 100.00 0.00 0.00 0.00 0.00 0.00
R3 100.00 0.00 0.00 0.00 0.00 0.00
Totals 633,913,471.20 562,385,649.81 34,592.45 19,291,090.96 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>
1A1 533,327.80 21,765,549.25 0.863712 533,327.80
1AX 0.00 0.00 0.000000 0.00
2A1 304,559.47 13,493,577.77 0.744022 304,559.47
3A1 302,680.95 60,838,573.78 0.968212 302,680.95
3AX 0.00 0.00 0.000000 0.00
4A1 1,879.49 11,155,132.85 0.935676 1,879.49
5A1 1,853,560.28 36,844,564.98 0.818768 1,853,560.28
5A2 12,190,248.09 62,083,422.37 0.536502 12,190,248.09
5A3 0.00 160,394,000.00 1.000000 0.00
5A4 0.00 19,837,000.00 1.000000 0.00
5A5 1,560,450.61 31,018,211.11 0.818768 1,560,450.61
5A6 2,059,511.42 40,938,405.54 0.818768 2,059,511.42
5A7 514,877.85 10,234,601.38 0.818768 514,877.85
5AX 0.00 0.00 0.000000 0.00
B1 1,893.54 30,733,341.89 0.999621 1,893.54
B2 858.91 13,940,711.86 0.999621 858.91
B3 546.60 8,871,634.71 0.999621 546.60
B4 546.54 8,870,635.09 0.999621 546.54
B5 429.46 6,970,355.93 0.999621 429.46
B6 312.39 5,070,247.90 0.999621 312.39
R1 0.00 0.00 0.000000 0.00
R2 0.00 0.00 0.000000 0.00
R3 0.00 0.00 0.000000 0.00
Totals 19,325,683.40 543,059,966.41 0.856678 19,325,683.40
Principal Distribution Factors Statement
Class Original Beginning Scheduled UnScheduled Accretion
Face Certificate Principal Principal
Amount Balance Distribution Distribution
<s> <c> <c> <c> <c> <c>
1A1 25,200,000.00 884.876073 0.027748 21.136053 0.000000
1AX 0.00 0.000000 0.000000 0.000000 0.000000
2A1 18,136,000.00 760.814801 0.000000 16.793089 0.000000
3A1 62,836,000.00 973.029071 0.015481 4.801518 0.000000
3AX 0.00 0.000000 0.000000 0.000000 0.000000
4A1 11,922,000.00 935.833950 0.107090 0.050559 0.000000
5A1 45,000,000.00 859.958339 0.061306 41.128923 0.000000
5A2 115,719,000.00 641.845077 0.156788 105.186743 0.000000
5A3 160,394,000.00 1000.000000 0.000000 0.000000 0.000000
5A4 19,837,000.00 1000.000000 0.000000 0.000000 0.000000
5A5 37,884,000.00 859.958339 0.061306 41.128923 0.000000
5A6 50,000,000.00 859.958339 0.061306 41.128923 0.000000
5A7 12,500,000.00 859.958339 0.061306 41.128923 0.000000
5AX 0.00 0.000000 0.000000 0.000000 0.000000
B1 30,745,000.00 999.682401 0.061589 0.000000 0.000000
B2 13,946,000.00 999.682401 0.061588 0.000000 0.000000
B3 8,875,000.00 999.682401 0.061589 0.000000 0.000000
B4 8,874,000.00 999.682401 0.061589 0.000000 0.000000
B5 6,973,000.00 999.682402 0.061589 0.000000 0.000000
B6 5,072,171.20 999.682402 0.061589 0.000000 0.000000
R1 100.00 0.000000 0.000000 0.000000 0.000000
R2 100.00 0.000000 0.000000 0.000000 0.000000
R3 100.00 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>
1A1 0.000000 21.163802 863.712272 0.863712 21.163802
1AX 0.000000 0.000000 0.000000 0.000000 0.000000
2A1 0.000000 16.793089 744.021712 0.744022 16.793089
3A1 0.000000 4.816999 968.212072 0.968212 4.816999
3AX 0.000000 0.000000 0.000000 0.000000 0.000000
4A1 0.000000 0.157649 935.676300 0.935676 0.157649
5A1 0.000000 41.190228 818.768111 0.818768 41.190228
5A2 0.000000 105.343531 536.501546 0.536502 105.343531
5A3 0.000000 0.000000 1,000.000000 1.000000 0.000000
5A4 0.000000 0.000000 1,000.000000 1.000000 0.000000
5A5 0.000000 41.190228 818.768111 0.818768 41.190228
5A6 0.000000 41.190228 818.768111 0.818768 41.190228
5A7 0.000000 41.190228 818.768110 0.818768 41.190228
5AX 0.000000 0.000000 0.000000 0.000000 0.000000
B1 0.000000 0.061589 999.620813 0.999621 0.061589
B2 0.000000 0.061588 999.620813 0.999621 0.061588
B3 0.000000 0.061589 999.620812 0.999621 0.061589
B4 0.000000 0.061589 999.620812 0.999621 0.061589
B5 0.000000 0.061589 999.620813 0.999621 0.061589
B6 0.000000 0.061589 999.620813 0.999621 0.061589
R1 0.000000 0.000000 0.000000 0.000000 0.000000
R2 0.000000 0.000000 0.000000 0.000000 0.000000
R3 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>
1A1 11/01/05 - 11/30/05 30 4.28245% 22,298,877.05 79,578.20 0.00
1AX 11/01/05 - 11/30/05 30 0.86000% 22,298,877.05 15,980.86 0.00
2A1 11/01/05 - 11/30/05 30 5.25256% 13,798,137.24 60,396.27 0.00
3A1 11/01/05 - 11/30/05 30 4.98259% 61,141,254.73 253,868.02 0.00
3AX 11/01/05 - 11/30/05 30 0.35000% 61,141,254.73 17,832.87 0.00
4A1 11/01/05 - 11/30/05 30 5.13899% 11,157,012.35 47,779.86 0.00
5A1 11/25/05 - 12/26/05 32 4.46375% 38,698,125.26 153,545.56 0.00
5A2 11/25/05 - 12/26/05 32 4.30375% 74,273,670.45 284,138.05 0.00
5A3 11/25/05 - 12/26/05 32 4.47375% 160,394,000.00 637,833.47 0.00
5A4 11/25/05 - 12/26/05 32 4.57375% 19,837,000.00 80,648.43 0.00
5A5 11/25/05 - 12/26/05 32 4.54375% 32,578,661.72 131,581.59 0.00
5A6 11/25/05 - 12/24/05 30 4.50375% 42,997,916.95 161,376.56 0.00
5A7 11/25/05 - 12/26/05 32 4.54375% 10,749,479.24 43,415.95 0.00
5AX 11/01/05 - 11/30/05 30 1.10868% 379,528,853.62 350,647.09 0.00
B1 11/01/05 - 11/30/05 30 5.70386% 30,735,235.43 146,091.23 0.00
B2 11/01/05 - 11/30/05 30 5.70386% 13,941,570.77 66,267.31 0.00
B3 11/01/05 - 11/30/05 30 5.70386% 8,872,181.31 42,171.40 0.00
B4 11/01/05 - 11/30/05 30 5.70386% 8,871,181.63 42,166.65 0.00
B5 11/01/05 - 11/30/05 30 5.70386% 6,970,785.39 33,133.65 0.00
B6 11/01/05 - 11/30/05 30 5.70386% 5,070,560.29 24,101.47 0.00
R1 N/A N/A 4.30428% 0.00 0.00 0.00
R2 N/A N/A 4.30428% 0.00 0.00 0.00
R3 N/A N/A 4.30428% 0.00 0.00 0.00
Totals 2,672,554.49 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>
1A1 0.00 0.00 79,578.20 0.00 21,765,549.25
1AX 0.00 0.00 27,950.86 0.00 21,765,549.25
2A1 0.00 0.00 60,396.27 0.00 13,493,577.77
3A1 0.00 0.00 253,868.02 0.00 60,838,573.78
3AX 0.00 0.00 25,332.24 0.00 60,838,573.78
4A1 0.00 0.00 47,779.86 0.00 11,155,132.85
5A1 0.00 0.00 153,545.56 0.00 36,844,564.98
5A2 0.00 0.00 284,138.05 0.00 62,083,422.37
5A3 0.00 0.00 637,833.47 0.00 160,394,000.00
5A4 0.00 0.00 80,648.43 0.00 19,837,000.00
5A5 0.00 0.00 131,581.59 0.00 31,018,211.11
5A6 0.00 0.00 161,376.56 0.00 40,938,405.54
5A7 0.00 0.00 43,415.95 0.00 10,234,601.38
5AX 0.00 0.00 587,736.13 0.00 361,350,205.37
B1 0.00 0.00 146,091.23 0.00 30,733,341.89
B2 0.00 0.00 66,267.31 0.00 13,940,711.86
B3 0.00 0.00 42,171.40 0.00 8,871,634.71
B4 0.00 0.00 42,166.65 0.00 8,870,635.09
B5 0.00 0.00 33,133.65 0.00 6,970,355.93
B6 0.00 0.00 24,101.47 0.00 5,070,247.90
R1 0.00 0.00 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,929,112.90 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>
1A1 11/01/05 - 11/30/05 25,200,000.00 4.28245% 884.876073 3.157865 0.000000
1AX 11/01/05 - 11/30/05 0.00 0.86000% 884.876073 0.634161 0.000000
2A1 11/01/05 - 11/30/05 18,136,000.00 5.25256% 760.814801 3.330187 0.000000
3A1 11/01/05 - 11/30/05 62,836,000.00 4.98259% 973.029071 4.040168 0.000000
3AX 11/01/05 - 11/30/05 0.00 0.35000% 973.029071 0.283800 0.000000
4A1 11/01/05 - 11/30/05 11,922,000.00 5.13899% 935.833950 4.007705 0.000000
5A1 11/25/05 - 12/26/05 45,000,000.00 4.46375% 859.958339 3.412124 0.000000
5A2 11/25/05 - 12/26/05 115,719,000.00 4.30375% 641.845077 2.455414 0.000000
5A3 11/25/05 - 12/26/05 160,394,000.00 4.47375% 1000.000000 3.976667 0.000000
5A4 11/25/05 - 12/26/05 19,837,000.00 4.57375% 1000.000000 4.065556 0.000000
5A5 11/25/05 - 12/26/05 37,884,000.00 4.54375% 859.958339 3.473276 0.000000
5A6 11/25/05 - 12/24/05 50,000,000.00 4.50375% 859.958339 3.227531 0.000000
5A7 11/25/05 - 12/26/05 12,500,000.00 4.54375% 859.958339 3.473276 0.000000
5AX 11/01/05 - 11/30/05 0.00 1.10868% 859.958339 0.794516 0.000000
B1 11/01/05 - 11/30/05 30,745,000.00 5.70386% 999.682401 4.751707 0.000000
B2 11/01/05 - 11/30/05 13,946,000.00 5.70386% 999.682401 4.751707 0.000000
B3 11/01/05 - 11/30/05 8,875,000.00 5.70386% 999.682401 4.751707 0.000000
B4 11/01/05 - 11/30/05 8,874,000.00 5.70386% 999.682401 4.751707 0.000000
B5 11/01/05 - 11/30/05 6,973,000.00 5.70386% 999.682402 4.751707 0.000000
B6 11/01/05 - 11/30/05 5,072,171.20 5.70386% 999.682402 4.751707 0.000000
R1 N/A 100.00 4.30428% 0.000000 0.000000 0.000000
R2 N/A 100.00 4.30428% 0.000000 0.000000 0.000000
R3 N/A 100.00 4.30428% 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>
1A1 0.000000 0.000000 3.157865 0.000000 863.712272
1AX 0.000000 0.000000 1.109161 0.000000 863.712272
2A1 0.000000 0.000000 3.330187 0.000000 744.021712
3A1 0.000000 0.000000 4.040168 0.000000 968.212072
3AX 0.000000 0.000000 0.403149 0.000000 968.212072
4A1 0.000000 0.000000 4.007705 0.000000 935.676300
5A1 0.000000 0.000000 3.412124 0.000000 818.768111
5A2 0.000000 0.000000 2.455414 0.000000 536.501546
5A3 0.000000 0.000000 3.976667 0.000000 1000.000000
5A4 0.000000 0.000000 4.065556 0.000000 1000.000000
5A5 0.000000 0.000000 3.473276 0.000000 818.768111
5A6 0.000000 0.000000 3.227531 0.000000 818.768111
5A7 0.000000 0.000000 3.473276 0.000000 818.768110
5AX 0.000000 0.000000 1.331726 0.000000 818.768111
B1 0.000000 0.000000 4.751707 0.000000 999.620813
B2 0.000000 0.000000 4.751707 0.000000 999.620813
B3 0.000000 0.000000 4.751707 0.000000 999.620812
B4 0.000000 0.000000 4.751707 0.000000 999.620812
B5 0.000000 0.000000 4.751707 0.000000 999.620813
B6 0.000000 0.000000 4.751707 0.000000 999.620813
R1 0.000000 0.000000 0.000000 0.000000 0.000000
R2 0.000000 0.000000 0.000000 0.000000 0.000000
R3 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 22,175,828.03
Reserve Funds and Credit Enhancements 0.00
Proceeds from Repurchased Loans 0.00
Servicer Advances 0.00
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 256,588.41
Swap/Cap Payments 0.00
Total Deposits 22,432,416.44
Withdrawals
Swap Payments 0.00
Reserve Funds and Credit Enhancements 0.00
Total Administration Fees 177,620.14
Payment of Interest and Principal 22,254,796.30
Total Withdrawals (Pool Distribution Amount) 22,432,416.44
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* 175,745.51
Wells Fargo Bank, N.A. 1,874.63
Supported Prepayment/Curtailment Interest Shortfall 0.00
Total Administration Fees 177,620.14
<FN>
*Servicer Payees include: IMPAC FUNDING CORPORATION
</FN>
Reserve Accounts
Account Name Beginning Current Withdrawals Current Deposits Ending Balance
Balance
<s> <c> <c> <c> <c>
Reserve Fund 0.00 0.00 0.00 0.00
Reserve Fund 0.00 0.00 0.00 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 6.151235%
Weighted Average Net Coupon 5.776235%
Weighted Average Pass-Through Rate 5.703035%
Weighted Average Remaining Term 353
Beginning Scheduled Collateral Loan Count 1,943
Number Of Loans Paid In Full 57
Ending Scheduled Collateral Loan Count 1,886
Beginning Scheduled Collateral Balance 562,385,649.81
Ending Scheduled Collateral Balance 543,059,966.41
Ending Actual Collateral Balance at 30-Nov-2005 543,059,966.41
Monthly P&I Constant 2,917,397.50
Special Servicing Fee 0.00
Prepayment Penalty Waived Amount 0.00
Prepayment Penalty Waived Count 0
Prepayment Penalty Paid Amount 256,588.41
Prepayment Penalty Paid Count Not Available
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 34,592.44
Unscheduled Principal 19,291,090.96
Group Level Collateral Statement
<s> <c> <c>
Group 1 2 3
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 5.566491 5.661559 5.749495
Weighted Average Net Rate 5.191491 5.286560 5.374495
Weighted Average Remaining Term 353 353 353
Beginning Loan Count 83 44 213
Loans Paid In Full 1 1 1
Ending Loan Count 82 43 212
Beginning Scheduled Balance 25,847,712.36 16,270,920.20 69,701,006.76
Ending Scheduled Balance 25,314,273.27 15,966,360.73 69,398,189.62
Record Date 11/30/2005 11/30/2005 11/30/2005
Principal And Interest Constant 120,711.44 76,765.65 335,063.61
Scheduled Principal 810.55 0.00 1,108.98
Unscheduled Principal 532,628.54 304,559.47 301,708.16
Scheduled Interest 119,900.89 76,765.65 333,954.63
Servicing Fee 8,077.41 5,084.66 21,781.56
Master Servicing Fee 0.00 0.00 0.00
Trustee Fee 86.16 54.24 232.34
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 770.15 406.77 2,201.96
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 110,967.17 71,219.98 309,738.77
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 Not Available Not Available Not Available
Prepayment Penalty Paid Count Not Available Not Available Not Available
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 5.151737 5.252559 5.332585
<FN>
</FN>
Group Level Collateral Statement
<s> <c> <c>
Group 4 5 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 5.547995 6.285575 6.151235
Weighted Average Net Rate 5.172995 5.910575 5.776235
Weighted Average Remaining Term 353 353 353
Beginning Loan Count 34 1,569 1,943
Loans Paid In Full 0 54 57
Ending Loan Count 34 1,515 1,886
Beginning Scheduled Balance 12,806,406.62 437,759,603.87 562,385,649.81
Ending scheduled Balance 12,804,338.38 419,576,804.41 543,059,966.41
Record Date 11/30/2005 11/30/2005 11/30/2005
Principal And Interest Constant 60,673.71 2,324,183.09 2,917,397.50
Scheduled Principal 1,465.48 31,207.43 34,592.44
Unscheduled Principal 602.76 18,151,592.03 19,291,090.96
Scheduled Interest 59,208.23 2,292,975.66 2,882,805.06
Servicing Fee 4,002.00 136,799.88 175,745.51
Master Servicing Fee 0.00 0.00 0.00
Trustee Fee 42.69 1,459.20 1,874.63
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 320.16 28,731.47 32,430.51
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 54,843.38 2,125,985.11 2,672,754.41
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 Not Available Not Available 256588.41
Prepayment Penalty Paid Count Not Available Not Available Not Available
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 5.138995 5.827815 5.703035
<FN>
</FN>
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 3 0 0 3
596,840.16 0.00 0.00 596,840.16
30 Days 22 0 0 0 22
5,065,083.18 0.00 0.00 0.00 5,065,083.18
60 Days 7 1 0 0 8
2,496,804.64 164,457.80 0.00 0.00 2,661,262.44
90 Days 2 0 6 0 8
520,000.00 0.00 2,508,169.57 0.00 3,028,169.57
120 Days 1 1 6 1 9
101,600.00 97,594.72 1,713,230.00 272,250.00 2,184,674.72
150 Days 0 1 4 1 6
0.00 123,500.00 1,277,531.05 91,000.00 1,492,031.05
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 32 6 16 2 56
8,183,487.82 982,392.68 5,498,930.62 363,250.00 15,028,061.12
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 0.159067% 0.000000% 0.000000% 0.159067%
0.109903% 0.000000% 0.000000% 0.109903%
30 Days 1.166490% 0.000000% 0.000000% 0.000000% 1.166490%
0.932693% 0.000000% 0.000000% 0.000000% 0.932693%
60 Days 0.371156% 0.053022% 0.000000% 0.000000% 0.424178%
0.459766% 0.030284% 0.000000% 0.000000% 0.490049%
90 Days 0.106045% 0.000000% 0.318134% 0.000000% 0.424178%
0.095754% 0.000000% 0.461859% 0.000000% 0.557612%
120 Days 0.053022% 0.053022% 0.318134% 0.053022% 0.477200%
0.018709% 0.017971% 0.315477% 0.050133% 0.402290%
150 Days 0.000000% 0.053022% 0.212089% 0.053022% 0.318134%
0.000000% 0.022742% 0.235247% 0.016757% 0.274745%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 1.696713% 0.318134% 0.848356% 0.106045% 2.969247%
1.506922% 0.180899% 1.012583% 0.066889% 2.767293%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 496,044.40
Delinquency Status By Group
DELINQUENT BANKRUPTCY FORECLOSURE REO TOTAL
<s> <c> <c> <c> <c> <c>
1
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
DELINQUENT BANKRUPTCY FORECLOSURE REO TOTAL
<s> <c> <c> <c> <c> <c>
2
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
236,000.00 0.00 0.00 0.00 236,000.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 1 0 0 1
0.00 123,500.00 0.00 0.00 123,500.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 1 1 0 0 2
236,000.00 123,500.00 0.00 0.00 359,500.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.325581% 0.000000% 0.000000% 0.000000% 2.325581%
1.478108% 0.000000% 0.000000% 0.000000% 1.478108%
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% 2.325581% 0.000000% 0.000000% 2.325581%
0.000000% 0.773501% 0.000000% 0.000000% 0.773501%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.325581% 2.325581% 0.000000% 0.000000% 4.651163%
1.478108% 0.773501% 0.000000% 0.000000% 2.251609%
DELINQUENT BANKRUPTCY FORECLOSURE REO TOTAL
<s> <c> <c> <c> <c> <c>
3
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
150,997.00 0.00 0.00 0.00 150,997.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 1 0 0 0 1
150,997.00 0.00 0.00 0.00 150,997.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.471698% 0.000000% 0.000000% 0.000000% 0.471698%
0.217581% 0.000000% 0.000000% 0.000000% 0.217581%
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 0.471698% 0.000000% 0.000000% 0.000000% 0.471698%
0.217581% 0.000000% 0.000000% 0.000000% 0.217581%
DELINQUENT BANKRUPTCY FORECLOSURE REO TOTAL
<s> <c> <c> <c> <c> <c>
4
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
176,000.00 0.00 0.00 0.00 176,000.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 1 0 0 0 1
176,000.00 0.00 0.00 0.00 176,000.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.941176% 0.000000% 0.000000% 0.000000% 2.941176%
1.374534% 0.000000% 0.000000% 0.000000% 1.374534%
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 2.941176% 0.000000% 0.000000% 0.000000% 2.941176%
1.374534% 0.000000% 0.000000% 0.000000% 1.374534%
DELINQUENT BANKRUPTCY FORECLOSURE REO TOTAL
<s> <c> <c> <c> <c> <c>
5
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 3 0 0 3
596,840.16 0.00 0.00 596,840.16
30 Days 19 0 0 0 19
4,502,086.18 0.00 0.00 0.00 4,502,086.18
60 Days 7 1 0 0 8
2,496,804.64 164,457.80 0.00 0.00 2,661,262.44
90 Days 2 0 6 0 8
520,000.00 0.00 2,508,169.57 0.00 3,028,169.57
120 Days 1 1 6 1 9
101,600.00 97,594.72 1,713,230.00 272,250.00 2,184,674.72
150 Days 0 0 4 1 5
0.00 0.00 1,277,531.05 91,000.00 1,368,531.05
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 29 5 16 2 52
7,620,490.82 858,892.68 5,498,930.62 363,250.00 14,341,564.12
0-29 Days 0.198020% 0.000000% 0.000000% 0.198020%
0.142248% 0.000000% 0.000000% 0.142248%
30 Days 1.254125% 0.000000% 0.000000% 0.000000% 1.254125%
1.073006% 0.000000% 0.000000% 0.000000% 1.073006%
60 Days 0.462046% 0.066007% 0.000000% 0.000000% 0.528053%
0.595077% 0.039196% 0.000000% 0.000000% 0.634273%
90 Days 0.132013% 0.000000% 0.396040% 0.000000% 0.528053%
0.123934% 0.000000% 0.597786% 0.000000% 0.721720%
120 Days 0.066007% 0.066007% 0.396040% 0.066007% 0.594059%
0.024215% 0.023260% 0.408323% 0.064887% 0.520685%
150 Days 0.000000% 0.000000% 0.264026% 0.066007% 0.330033%
0.000000% 0.000000% 0.304481% 0.021689% 0.326169%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 1.914191% 0.330033% 1.056106% 0.132013% 3.432343%
1.816233% 0.204705% 1.310590% 0.086575% 3.418102%
REO Detail - All Mortgage Loans in REO during Current Period
Summary 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 1 Jan-05 0.000%
Original Principal Balance 272,250.00 Feb-05 0.000%
Current Principal Balance 272,250.00 Mar-05 0.000%
Apr-05 0.000%
Current REO Total May-05 0.000%
Loans in REO 2 Jun-05 0.000%
Original Principal Balance 363,250.00 Jul-05 0.000%
Current Principal Balance 363,250.00 Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.016%
Dec-05 0.067%
*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 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.
2 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.
3 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.
4 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.
5 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 1 Jan-05 0.000%
Original Principal Balance 272,250.00 Feb-05 0.000%
Current Principal Balance 272,250.00 Mar-05 0.000%
Apr-05 0.000%
Current REO Total May-05 0.000%
Loans in REO 2 Jun-05 0.000%
Original Principal Balance 363,250.00 Jul-05 0.000%
Current Principal Balance 363,250.00 Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.021%
Dec-05 0.087%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
REO Loan Detail - All Mortgage Loans in REO during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number REO Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
5 1103385504 Nov-2005 01-Jun-2005 GA 0.00 91,000.00
5 1103411054 Dec-2005 01-May-2005 MI 0.00 272,250.00
REO Loan Detail - All Mortgage Loans in REO during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
5 1103385504 91,000.00 01-May-2005 5 6.625% 3,301.81
5 1103411054 272,250.00 01-Jun-2005 4 7.690% 7,588.98
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 7 Jan-05 0.000%
Original Principal Balance 3,003,900.00 Feb-05 0.000%
Current Principal Balance 2,996,169.57 Mar-05 0.000%
Apr-05 0.000%
Current Foreclosure Total May-05 0.000%
Loans in Foreclosure 16 Jun-05 0.000%
Original Principal Balance 5,507,130.00 Jul-05 0.000%
Current Principal Balance 5,498,930.62 Aug-05 0.000%
Sep-05 0.162%
Oct-05 0.499%
Nov-05 0.587%
Dec-05 1.013%
*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 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.
2 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 0.741%
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.
3 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 1.054%
Oct-05 1.054%
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.
4 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.
5 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 7 Jan-05 0.000%
Original Principal Balance 3,003,900.00 Feb-05 0.000%
Current Principal Balance 2,996,169.57 Mar-05 0.000%
Apr-05 0.000%
Current Foreclosure Total May-05 0.000%
Loans in Foreclosure 16 Jun-05 0.000%
Original Principal Balance 5,507,130.00 Jul-05 0.000%
Current Principal Balance 5,498,930.62 Aug-05 0.000%
Sep-05 0.048%
Oct-05 0.449%
Nov-05 0.754%
Dec-05 1.311%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
5 1103353845 Dec-2005 01-May-2005 CA 0.00 630,000.00
5 1103382319 Nov-2005 01-May-2005 CO 0.00 157,500.00
5 1103393761 Dec-2005 01-May-2005 IL 0.00 77,000.00
5 1103394333 Oct-2005 01-Jun-2005 IL 0.00 90,930.00
5 1103396576 Nov-2005 01-May-2005 CA 0.00 147,200.00
5 1103401143 Dec-2005 01-May-2005 CA 0.00 312,000.00
5 1103402057 Dec-2005 01-Mar-2005 CA 0.00 488,000.00
5 1103402058 Nov-2005 01-Apr-2005 CA 0.00 650,000.00
5 1103411005 Nov-2005 01-Apr-2005 OH 0.00 179,600.00
5 1103413199 Dec-2005 01-May-2005 MD 0.00 646,200.00
5 1103414621 Nov-2005 01-May-2005 CA 0.00 312,000.00
5 1103414713 Oct-2005 01-May-2005 CA 0.00 328,000.00
5 1103417212 Dec-2005 01-May-2005 NY 0.00 342,000.00
5 2503103899 Oct-2005 01-Jun-2005 TX 0.00 238,000.00
5 2503105333 Dec-2005 01-Jun-2005 CA 0.00 508,700.00
5 2503106686 Oct-2005 01-Jun-2005 CA 0.00 400,000.00
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
5 1103353845 630,000.00 01-Jul-2005 3 5.375% 13,046.25
5 1103382319 157,500.00 01-Jun-2005 4 6.375% 4,701.36
5 1103393761 77,000.00 01-Jul-2005 3 6.750% 2,035.70
5 1103394333 90,930.00 01-Jun-2005 4 6.625% 2,827.92
5 1103396576 147,200.00 01-Jun-2005 4 6.625% 4,577.94
5 1103401143 308,704.50 01-Jul-2005 3 6.500% 7,839.80
5 1103402057 488,000.00 01-Jun-2005 4 6.750% 15,481.80
5 1103402058 650,000.00 01-Jun-2005 4 6.250% 18,996.24
5 1103411005 179,600.00 01-Jun-2005 4 5.890% 4,925.52
5 1103413199 646,200.00 01-Jul-2005 3 8.000% 20,449.55
5 1103414621 311,768.45 01-May-2005 5 7.500% 12,903.31
5 1103414713 327,762.60 01-May-2005 5 7.625% 13,804.28
5 1103417212 339,095.07 01-Jul-2005 3 5.750% 7,576.44
5 2503103899 238,000.00 01-May-2005 5 6.875% 8,982.53
5 2503105333 507,170.00 01-Jul-2005 3 6.250% 12,351.70
5 2503106686 400,000.00 01-May-2005 5 6.125% 13,346.69
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 1 Jan-05 0.000%
Original Principal Balance 164,500.00 Feb-05 0.000%
Current Principal Balance 164,457.80 Mar-05 0.000%
Apr-05 0.000%
Current Bankruptcy Total May-05 0.000%
Loans in Bankruptcy 6 Jun-05 0.000%
Original Principal Balance 983,003.20 Jul-05 0.000%
Current Principal Balance 982,392.68 Aug-05 0.000%
Sep-05 0.028%
Oct-05 0.046%
Nov-05 0.175%
Dec-05 0.181%
*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 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.
2 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 1 Jun-05 0.000%
Original Principal Balance 123,500.00 Jul-05 0.000%
Current Principal Balance 123,500.00 Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.759%
Dec-05 0.774%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
3 12 Month 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.
4 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.
5 12 Month Bankruptcy History*
New Bankruptcy Loans Month Bankruptcy Percentage
<s> <c> <s> <c>
Loans in Bankruptcy 1 Jan-05 0.000%
Original Principal Balance 164,500.00 Feb-05 0.000%
Current Principal Balance 164,457.80 Mar-05 0.000%
Apr-05 0.000%
Current Bankruptcy Total May-05 0.000%
Loans in Bankruptcy 5 Jun-05 0.000%
Original Principal Balance 859,503.20 Jul-05 0.000%
Current Principal Balance 858,892.68 Aug-05 0.000%
Sep-05 0.036%
Oct-05 0.059%
Nov-05 0.197%
Dec-05 0.205%
*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>
2 1103410505 Nov-2005 01-May-2005 GA 0.00 123,500.00
5 1103364711 Nov-2005 01-May-2005 NV 0.00 260,000.00
5 1103392102 Nov-2005 01-Jun-2005 IN 0.00 86,800.00
5 1103407430 Dec-2005 01-Jun-2005 VA 0.00 164,500.00
5 1103411052 Nov-2005 01-Jan-2005 OH 0.00 250,603.20
5 1103411355 Oct-2005 01-Apr-2005 GA 0.00 97,600.00
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>
2 1103410505 123,500.00 01-May-2005 5 6.000% 4,030.74
5 1103364711 259,956.25 01-Oct-2005 0 6.250% 2,532.40
5 1103392102 86,280.71 01-Nov-2005 0 6.875% 931.61
5 1103407430 164,457.80 01-Aug-2005 2 7.125% 3,272.73
5 1103411052 250,603.20 01-Oct-2005 0 5.990% 2,332.70
5 1103411355 97,594.72 01-Jun-2005 4 6.390% 2,920.53
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
1 0 0.00 0.00 0.000%
2 0 0.00 0.00 0.000%
3 0 0.00 0.00 0.000%
4 0 0.00 0.00 0.000%
5 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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.
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>
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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.
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>
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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.
3
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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.
4
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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.
5
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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 0.000% N/A Jul-2005 0.000% N/A
Aug-2005 0.000% N/A Aug-2005 0.000% N/A
Sep-2005 0.000% N/A Sep-2005 0.000% N/A
Oct-2005 0.000% N/A Oct-2005 0.000% N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
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>
1 1 532,000.00 532,000.00 0 0.00 0.00
2 1 303,350.00 303,350.00 0 0.00 0.00
3 1 300,000.00 299,979.82 0 0.00 0.00
4 0 0.00 0.00 0 0.00 0.00
5 54 18,158,326.00 18,141,425.34 0 0.00 0.00
Total 57 19,293,676.00 19,276,755.16 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 0.00 628.54
2 0 0.00 0.00 0 0.00 0.00 1,209.47
3 0 0.00 0.00 0 0.00 0.00 1,728.34
4 0 0.00 0.00 0 0.00 0.00 602.76
5 0 0.00 0.00 0 0.00 0.00 9,272.02
Total 0 0.00 0.00 0 0.00 0.00 13,441.13
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 1103390506 CA 0.00 01-May-2005 532,000.00 532,000.00
2 1103407216 CA 0.00 01-May-2005 303,350.00 303,350.00
3 1103394061 CA 0.00 01-Jun-2005 300,000.00 299,979.82
5 1103374714 NJ 0.00 01-May-2005 166,500.00 165,438.70
5 1103383852 CA 0.00 01-May-2005 144,199.00 144,163.71
5 1103384034 CA 0.00 01-May-2005 260,000.00 260,000.00
5 1103392289 AZ 0.00 01-May-2005 164,500.00 164,500.00
5 1103393560 CA 0.00 01-Jun-2005 388,000.00 388,323.34
5 1103393988 CA 0.00 01-Jun-2005 750,000.00 749,992.39
5 1103394582 CA 0.00 01-Jun-2005 284,000.00 284,000.00
5 1103396071 NJ 0.00 01-May-2005 525,000.00 525,000.00
5 1103398562 CA 0.00 01-May-2005 235,400.00 235,400.00
5 1103399700 CA 0.00 01-Apr-2005 276,000.00 276,000.00
5 1103399806 CA 0.00 01-Apr-2005 192,314.00 192,314.00
5 1103400662 CA 0.00 01-Jun-2005 157,500.00 157,631.25
5 1103400868 CO 0.00 01-Jun-2005 344,000.00 343,887.12
5 1103401433 CA 0.00 01-Jun-2005 500,000.00 500,000.00
5 1103401495 CA 0.00 01-Jun-2005 395,200.00 395,200.00
5 1103402059 CA 0.00 01-Apr-2005 231,000.00 230,999.63
5 1103402068 CA 0.00 01-May-2005 282,213.00 280,794.88
5 1103405175 IL 0.00 01-Jun-2005 228,000.00 228,023.75
5 1103405902 VA 0.00 01-May-2005 380,000.00 379,683.33
5 1103406277 CA 0.00 01-Jun-2005 346,400.00 346,067.33
5 1103407187 CA 0.00 01-May-2005 252,000.00 251,994.31
5 1103407190 CA 0.00 01-May-2005 395,900.00 395,477.50
5 1103407212 CA 0.00 01-May-2005 261,600.00 261,600.00
5 1103407412 NJ 0.00 01-Jun-2005 184,920.00 184,920.00
5 1103407883 CO 0.00 01-Jun-2005 150,400.00 149,650.43
5 1103409304 OH 0.00 01-May-2005 110,000.00 109,967.73
5 1103410500 NC 0.00 01-May-2005 118,500.00 118,500.00
5 1103411083 CA 0.00 01-May-2005 244,000.00 244,000.00
5 1103411088 CA 0.00 01-May-2005 305,000.00 305,000.00
5 1103411114 VA 0.00 01-Apr-2005 296,000.00 296,000.00
5 1103411164 WA 0.00 01-May-2005 194,320.00 194,320.00
5 1103412652 CA 0.00 01-Jun-2005 456,000.00 456,000.00
5 1103413185 MD 0.00 01-Jun-2005 105,600.00 105,600.00
5 1103413192 MD 0.00 01-May-2005 411,200.00 411,199.99
5 1103413193 VA 0.00 01-May-2005 506,200.00 506,200.00
5 1103413195 MD 0.00 01-May-2005 260,000.00 259,999.99
5 1103414586 VA 0.00 01-May-2005 391,920.00 391,588.85
5 1103414605 CA 0.00 01-May-2005 640,000.00 640,000.00
5 1103414609 CA 0.00 01-May-2005 319,200.00 319,200.00
5 1103414679 CA 0.00 01-May-2005 508,000.00 507,503.74
5 1103414729 AZ 0.00 01-May-2005 142,976.00 142,819.04
5 1103414754 VA 0.00 01-Jun-2005 324,000.00 324,168.75
5 1103414762 CA 0.00 01-Jun-2005 371,964.00 372,273.97
5 1103414789 CA 0.00 01-Jun-2005 208,000.00 208,000.00
5 1103415742 CA 0.00 01-Jun-2005 379,650.00 379,650.00
5 2503103184 CA 0.00 01-Jun-2005 246,400.00 246,400.00
5 2503103258 IL 0.00 01-Jun-2005 316,000.00 316,000.00
5 2503105547 CA 0.00 01-Jun-2005 619,500.00 620,016.25
5 2503106454 FL 0.00 01-Jul-2005 152,000.00 152,000.00
5 2503106684 CA 0.00 01-Jun-2005 1,593,750.00 1,593,750.00
5 2503107247 CA 0.00 01-Jun-2005 479,900.00 479,900.00
5 2503107388 FL 0.00 01-Jul-2005 88,000.00 87,630.62
5 2503108142 FL 0.00 01-Jul-2005 644,000.00 644,000.00
5 3900011727 WA 0.00 01-Sep-2002 231,200.00 219,569.41
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 1103390506 Loan Paid in Full 0 5.625% 360 7
2 1103407216 Loan Paid in Full 0 5.875% 360 7
3 1103394061 Loan Paid in Full 0 6.250% 360 6
5 1103374714 Loan Paid in Full 0 7.250% 360 7
5 1103383852 Loan Paid in Full 0 5.875% 360 7
5 1103384034 Loan Paid in Full 0 6.375% 360 7
5 1103392289 Loan Paid in Full 0 5.625% 360 7
5 1103393560 Loan Paid in Full 0 6.875% 360 6
5 1103393988 Loan Paid in Full 0 6.750% 360 6
5 1103394582 Loan Paid in Full 0 6.500% 360 6
5 1103396071 Loan Paid in Full 0 6.625% 360 7
5 1103398562 Loan Paid in Full 0 6.875% 360 7
5 1103399700 Loan Paid in Full 2 6.375% 360 8
5 1103399806 Loan Paid in Full 0 6.875% 360 8
5 1103400662 Loan Paid in Full 0 6.250% 360 6
5 1103400868 Loan Paid in Full 0 7.875% 360 6
5 1103401433 Loan Paid in Full 0 6.625% 360 6
5 1103401495 Loan Paid in Full 0 7.250% 360 6
5 1103402059 Loan Paid in Full 0 7.375% 360 8
5 1103402068 Loan Paid in Full 0 7.625% 360 7
5 1103405175 Loan Paid in Full 0 7.500% 360 6
5 1103405902 Loan Paid in Full 0 7.375% 360 7
5 1103406277 Loan Paid in Full 0 6.000% 360 6
5 1103407187 Loan Paid in Full 0 6.250% 360 7
5 1103407190 Loan Paid in Full (1) 6.250% 360 7
5 1103407212 Loan Paid in Full 0 6.750% 360 7
5 1103407412 Loan Paid in Full 0 6.500% 360 6
5 1103407883 Loan Paid in Full 0 7.875% 360 6
5 1103409304 Loan Paid in Full 0 7.000% 360 7
5 1103410500 Loan Paid in Full 0 6.125% 360 7
5 1103411083 Loan Paid in Full 0 5.870% 360 7
5 1103411088 Loan Paid in Full 2 8.240% 360 7
5 1103411114 Loan Paid in Full 0 5.840% 360 8
5 1103411164 Loan Paid in Full 0 6.640% 360 7
5 1103412652 Loan Paid in Full 0 6.500% 360 6
5 1103413185 Loan Paid in Full 0 7.250% 360 6
5 1103413192 Loan Paid in Full 0 7.630% 360 7
5 1103413193 Loan Paid in Full 1 7.000% 360 7
5 1103413195 Loan Paid in Full 0 7.500% 360 7
5 1103414586 Loan Paid in Full 0 7.000% 360 7
5 1103414605 Loan Paid in Full 0 6.750% 360 7
5 1103414609 Loan Paid in Full 0 6.000% 360 7
5 1103414679 Loan Paid in Full 0 6.125% 360 7
5 1103414729 Loan Paid in Full 0 6.625% 360 7
5 1103414754 Loan Paid in Full 0 7.250% 360 6
5 1103414762 Loan Paid in Full 0 6.125% 360 6
5 1103414789 Loan Paid in Full 0 7.125% 360 6
5 1103415742 Loan Paid in Full 0 5.875% 360 6
5 2503103184 Loan Paid in Full 2 6.500% 360 6
5 2503103258 Loan Paid in Full 0 7.250% 360 6
5 2503105547 Loan Paid in Full 0 6.875% 360 6
5 2503106454 Loan Paid in Full 0 8.875% 360 6
5 2503106684 Loan Paid in Full (1) 6.125% 360 6
5 2503107247 Loan Paid in Full 0 4.990% 360 6
5 2503107388 Loan Paid in Full 0 7.875% 360 6
5 2503108142 Loan Paid in Full 0 6.000% 360 6
5 3900011727 Loan Paid in Full 0 6.250% 360 39
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 3.430% Current Month 34.222% Current Month 2,552.657%
3 Month Average 2.858% 3 Month Average 29.285% 3 Month Average 2,566.355%
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 17.583% N/A Jul-2005 4,956.730% N/A
Aug-2005 27.749% N/A Aug-2005 5,067.756% N/A
Sep-2005 25.099% N/A Sep-2005 3,359.052% N/A
Oct-2005 24.442% N/A Oct-2005 2,590.138% N/A
Nov-2005 29.192% N/A Nov-2005 2,556.271% N/A
Dec-2005 34.222% N/A Dec-2005 2,552.657% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.061% Current Month 22.110% Current Month 1,623.425%
3 Month Average 2.537% 3 Month Average 26.443% 3 Month Average 2,336.743%
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 0.032% N/A Jul-2005 8.822% N/A
Aug-2005 29.522% N/A Aug-2005 5,282.842% N/A
Sep-2005 22.075% N/A Sep-2005 2,912.379% N/A
Oct-2005 25.939% N/A Oct-2005 2,696.466% N/A
Nov-2005 31.280% N/A Nov-2005 2,690.337% N/A
Dec-2005 22.110% N/A Dec-2005 1,623.425% 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 1.872% Current Month 20.288% Current Month 1,544.319%
3 Month Average 6.827% 3 Month Average 44.446% 3 Month Average 4,452.981%
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 0.101% N/A Jul-2005 32.128% N/A
Aug-2005 0.045% N/A Aug-2005 8.774% N/A
Sep-2005 34.315% N/A Sep-2005 4,779.223% N/A
Oct-2005 88.081% N/A Oct-2005 9,575.888% N/A
Nov-2005 24.969% N/A Nov-2005 2,238.738% N/A
Dec-2005 20.288% N/A Dec-2005 1,544.319% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
3
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.433% Current Month 5.073% Current Month 388.755%
3 Month Average 0.147% 3 Month Average 1.723% 3 Month Average 133.174%
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 8.257% N/A Jul-2005 2,714.502% N/A
Aug-2005 7.376% N/A Aug-2005 1,461.103% N/A
Sep-2005 11.634% N/A Sep-2005 1,651.744% N/A
Oct-2005 0.095% N/A Oct-2005 10.554% N/A
Nov-2005 0.002% N/A Nov-2005 0.213% N/A
Dec-2005 5.073% N/A Dec-2005 388.755% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
4
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.005% Current Month 0.056% Current Month 3.859%
3 Month Average 0.924% 3 Month Average 9.551% 3 Month Average 897.618%
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 29.717% N/A Jul-2005 6,212.349% N/A
Aug-2005 0.000% N/A Aug-2005 0.001% N/A
Sep-2005 0.097% N/A Sep-2005 11.099% N/A
Oct-2005 28.595% N/A Oct-2005 2,688.883% N/A
Nov-2005 0.001% N/A Nov-2005 0.111% N/A
Dec-2005 0.056% N/A Dec-2005 3.859% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
5
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 4.147% Current Month 39.844% Current Month 2,967.777%
3 Month Average 3.178% 3 Month Average 31.764% 3 Month Average 2,737.886%
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 20.045% N/A Jul-2005 5,572.012% N/A
Aug-2005 31.797% N/A Aug-2005 5,770.037% N/A
Sep-2005 27.274% N/A Sep-2005 3,633.977% N/A
Oct-2005 21.845% N/A Oct-2005 2,308.916% N/A
Nov-2005 33.604% N/A Nov-2005 2,936.965% N/A
Dec-2005 39.844% N/A Dec-2005 2,967.777% 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