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
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2005-SD3
(Exact name of registrant as specified in its charter)
New York (governing law of 333-123741-12 54-2186769
Pooling and Servicing Agreement) (Commission 54-2186770
(State or other File Number) 54-2186771
jurisdiction IRS EIN
of Incorporation)
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
On December 27, 2005 a distribution was made to holders of ACE SECURITIES CORP.
HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series
2005-SD3 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Asset Backed Pass-Through Certificates,
Series 2005-SD3 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.
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2005-SD3 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Securities Administrator
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 1/9/2006
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Pass-Through Certificates, Series 2005-SD3 Trust,
relating to the December 27, 2005 distribution.
EX-99.1
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Record Date: 11/30/2005
Distribution Date: 12/27/2005
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Series ACE 2005-SD3
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>
A 004421TP8 4.62000% 151,751,000.00 525,817.21
M-1 004421TQ6 4.92000% 17,242,000.00 63,622.98
M-2 004421TR4 5.97000% 9,907,000.00 44,358.59
M-3 004421TS2 6.22000% 4,573,000.00 21,333.05
M-4 004421TT0 7.22000% 2,286,000.00 12,378.69
M-5 004421TU7 7.22000% 1,715,000.00 9,286.73
B-1 004421TN3 7.22000% 3,048,000.00 16,504.92
CE-1 0.00000% 232.80 0.00
CE-2 0.00000% 0.00 11,131.30
R ACE5SD3R1 0.00000% 0.00 0.00
Totals 190,522,232.80 704,433.47
Certificateholder Distribution Summary (continued)
Class Principal Current Ending Total Cummulative
Distribution Realized Certificate Distribution Realized
Loss Balance Losses
<s> <c> <c> <c> <c> <c>
A 7,166,190.61 0.00 144,584,809.39 7,692,007.82 0.00
M-1 0.00 0.00 17,242,000.00 63,622.98 0.00
M-2 0.00 0.00 9,907,000.00 44,358.59 0.00
M-3 0.00 0.00 4,573,000.00 21,333.05 0.00
M-4 0.00 0.00 2,286,000.00 12,378.69 0.00
M-5 0.00 0.00 1,715,000.00 9,286.73 0.00
B-1 97,682.47 0.00 2,950,317.53 114,187.39 0.00
CE-1 0.00 0.00 824,130.67 0.00 0.00
CE-2 0.00 0.00 0.00 11,131.30 0.00
R 0.00 0.00 0.00 0.00 0.00
Totals 7,263,873.08 0.00 184,082,257.59 7,968,306.55 0.00
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>
A 151,751,000.00 151,751,000.00 0.00 7,166,190.61 0.00 0.00
M-1 17,242,000.00 17,242,000.00 0.00 0.00 0.00 0.00
M-2 9,907,000.00 9,907,000.00 0.00 0.00 0.00 0.00
M-3 4,573,000.00 4,573,000.00 0.00 0.00 0.00 0.00
M-4 2,286,000.00 2,286,000.00 0.00 0.00 0.00 0.00
M-5 1,715,000.00 1,715,000.00 0.00 0.00 0.00 0.00
B-1 3,048,000.00 3,048,000.00 0.00 97,682.47 0.00 0.00
CE-1 232.80 232.80 0.00 0.00 0.00 0.00
CE-2 0.00 0.00 0.00 0.00 0.00 0.00
CE-2 0.00 0.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 190,522,232.80 190,522,232.80 0.00 7,263,873.08 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>
A 7,166,190.61 144,584,809.39 0.952777 7,166,190.61
M-1 0.00 17,242,000.00 1.000000 0.00
M-2 0.00 9,907,000.00 1.000000 0.00
M-3 0.00 4,573,000.00 1.000000 0.00
M-4 0.00 2,286,000.00 1.000000 0.00
M-5 0.00 1,715,000.00 1.000000 0.00
B-1 97,682.47 2,950,317.53 0.967952 97,682.47
CE-1 0.00 824,130.67 3,540.080198 0.00
CE-2 0.00 0.00 0.000000 0.00
0.00 0.00 0.000000 0.00
R 0.00 0.00 0.000000 0.00
0.00 0.00 0.000000 0.00
Totals 7,263,873.08 184,082,257.59 0.966198 7,263,873.08
Principal Distribution Factors Statement
Class Original Beginning Scheduled UnScheduled Accretion
Face Certificate Principal Principal
Amount Balance Distribution Distribution
<s> <c> <c> <c> <c> <c>
A 151,751,000.00 1000.000000 0.000000 47.223350 0.000000
M-1 17,242,000.00 1000.000000 0.000000 0.000000 0.000000
M-2 9,907,000.00 1000.000000 0.000000 0.000000 0.000000
M-3 4,573,000.00 1000.000000 0.000000 0.000000 0.000000
M-4 2,286,000.00 1000.000000 0.000000 0.000000 0.000000
M-5 1,715,000.00 1000.000000 0.000000 0.000000 0.000000
B-1 3,048,000.00 1000.000000 0.000000 32.048054 0.000000
CE-1 232.80 1000.000000 0.000000 0.000000 0.000000
CE-2 0.00 0.000000 0.000000 0.000000 0.000000
R 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>
A 0.000000 47.223350 952.776650 0.952777 47.223350
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
B-1 0.000000 32.048054 967.951946 0.967952 32.048054
CE-1 0.000000 0.000000 3,540,080.197595 3540.080198 0.000000
CE-2 0.000000 0.000000 0.000000 0.000000 0.000000
R 0.000000 0.000000 0.000000 0.000000 0.000000
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>
A 11/30/05 - 12/26/05 27 4.62000% 151,751,000.00 525,817.21 0.00
M-1 11/30/05 - 12/26/05 27 4.92000% 17,242,000.00 63,622.98 0.00
M-2 11/30/05 - 12/26/05 27 5.97000% 9,907,000.00 44,358.59 0.00
M-3 11/30/05 - 12/26/05 27 6.22000% 4,573,000.00 21,333.05 0.00
M-4 11/30/05 - 12/26/05 27 7.22000% 2,286,000.00 12,378.69 0.00
M-5 11/30/05 - 12/26/05 27 7.22000% 1,715,000.00 9,286.73 0.00
B-1 11/30/05 - 12/26/05 27 7.22000% 3,048,000.00 16,504.92 0.00
CE-1 N/A N/A 0.00000% 232.80 0.00 0.00
CE-2 N/A N/A 0.00000% 0.00 0.00 0.00
R N/A N/A 0.00000% 0.00 0.00 0.00
Totals 693,302.17 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>
A 0.00 0.00 525,817.21 0.00 144,584,809.39
M-1 0.00 0.00 63,622.98 0.00 17,242,000.00
M-2 0.00 0.00 44,358.59 0.00 9,907,000.00
M-3 0.00 0.00 21,333.05 0.00 4,573,000.00
M-4 0.00 0.00 12,378.69 0.00 2,286,000.00
M-5 0.00 0.00 9,286.73 0.00 1,715,000.00
B-1 0.00 0.00 16,504.92 0.00 2,950,317.53
CE-1 0.00 0.00 0.00 0.00 824,130.67
CE-2 0.00 0.00 11,131.30 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 704,433.47 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>
A 11/30/05 - 12/26/05 151,751,000.00 4.62000% 1000.000000 3.465000 0.000000
M-1 11/30/05 - 12/26/05 17,242,000.00 4.92000% 1000.000000 3.690000 0.000000
M-2 11/30/05 - 12/26/05 9,907,000.00 5.97000% 1000.000000 4.477500 0.000000
M-3 11/30/05 - 12/26/05 4,573,000.00 6.22000% 1000.000000 4.665001 0.000000
M-4 11/30/05 - 12/26/05 2,286,000.00 7.22000% 1000.000000 5.415000 0.000000
M-5 11/30/05 - 12/26/05 1,715,000.00 7.22000% 1000.000000 5.415003 0.000000
B-1 11/30/05 - 12/26/05 3,048,000.00 7.22000% 1000.000000 5.415000 0.000000
CE-1 N/A 232.80 0.00000% 1000.000000 0.000000 0.000000
CE-2 N/A 0.00 0.00000% 0.000000 0.000000 0.000000
R 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>
A 0.000000 0.000000 3.465000 0.000000 952.776650
M-1 0.000000 0.000000 3.690000 0.000000 1000.000000
M-2 0.000000 0.000000 4.477500 0.000000 1000.000000
M-3 0.000000 0.000000 4.665001 0.000000 1000.000000
M-4 0.000000 0.000000 5.415000 0.000000 1000.000000
M-5 0.000000 0.000000 5.415003 0.000000 1000.000000
B-1 0.000000 0.000000 5.415000 0.000000 967.951946
CE-1 0.000000 0.000000 0.000000 0.000000 3540080.197595
CE-2 0.000000 0.000000 0.000000 0.000000 0.000000
R 0.000000 0.000000 0.000000 0.000000 0.000000
<FN>
(1,2) Amount also includes coupon cap or basis risk shortfalls,if applicable.
Per $1 denomination.
</FN>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
<s> <c> <c> <c> <c> <c> <c>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 7,323,045.63
Reserve Funds and Credit Enhancements 0.00
Proceeds from Repurchased Loans 0.00
Servicer Advances 675,772.52
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 97,682.47
Swap/Cap Payments 0.00
Total Deposits 8,096,500.62
Withdrawals
Swap Payments 38,941.05
Reserve Funds and Credit Enhancements 0.00
Reimbursement for Servicer Advances 0.00
Total Administration Fees 89,253.02
Payment of Interest and Principal 7,968,306.55
Total Withdrawals (Pool Distribution Amount) 8,096,500.62
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* 78,933.07
Credit Risk Manager Fee - Risk Management Group, LLC 3,175.37
Master Servicing Fee - Wells Fargo Bank, N.A. 7,144.58
Supported Prepayment/Curtailment Interest Shortfall 0.00
Total Administration Fees 89,253.02
<FN>
*Servicer Payees include: OCWEN FEDERAL BANK FSB; Ocwen Loan Servicing, LLC; Washington Mutual
Bank; WASHINGTON MUTUAL BANK, F.A.; WELLS FARGO BANK, N.A.; Wells Fargo Bank, National
Association
</FN>
OTHER ACCOUNTS
Account Name Funds In (A) Funds Out(B) Net Amount(A - B)
<s> <c> <c> <c>
Swap Payment 612,342.61 651,283.66 (38,941.05)
COLLATERAL STATEMENT
Collateral Description Fixed Mixed & ARM & Balloon
Weighted Average Gross Coupon 9.818339%
Weighted Average Net Coupon 9.321180%
Weighted Average Pass-Through Rate 9.256179%
Weighted Average Remaining Term 280
Beginning Scheduled Collateral Loan Count 1,911
Number Of Loans Paid In Full 58
Ending Scheduled Collateral Loan Count 1,853
Beginning Scheduled Collateral Balance 190,522,232.80
Ending Scheduled Collateral Balance 184,082,257.61
Ending Actual Collateral Balance at 30-Nov-2005 184,200,189.16
Monthly P&I Constant 1,663,754.92
Special Servicing Fee 0.00
Prepayment Penalty Waived Amount 0.00
Prepayment Penalty Waived Count 0
Prepayment Penalty Paid Amount 97,682.47
Prepayment Penalty Paid Count 14
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 295,789.32
Unscheduled Principal 6,144,185.89
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized Reduction Amount 0.00
Specified O/C Amount 4,382,011.35
Overcollateralized Amount 824,130.67
Overcollateralized Deficiency Amount 4,381,778.53
Base Overcollateralization Amount 0.00
Extra principal distribution Amount 745,540.02
Excess Cash Amount 0.00
COLLATERAL STATEMENT
Collateral Description Fixed Mixed & ARM & Balloon
Weighted Average Coupon Rate 9.818339%
Weighted Average Net Rate 9.321180%
Weighted Average Pass Through Rate 9.256179%
Weighted Average Remaining Term 280
Record Date 11/30/2005
Principal and Interest Constant 1,663,754.92
Beginning Loan Count 1,911
Loans Paid in Full 58
Ending Loan Count 1,853
Beginning Scheduled Balance 190,522,232.80
Ending Scheduled Balance 184,082,257.61
Ending Actual Balance at 30-Nov-2005 184,200,189.16
Scheduled Principal 295,789.32
Unscheduled Principal 6,144,185.89
Scheduled Interest 1,367,965.60
Servicing Fee 78,933.07
Master Servicing Fee 7,144.58
Trustee Fee 0.00
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 3,175.37
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 1,278,712.58
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Special Servicing Fee 0.00
Prepayment Penalty Waived Amount 0.00
Prepayment Penalty Waived Count 0
Prepayment Penalty Paid Amount 97,682.47
Prepayment Penalty Paid Count 14
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized Reduction Amount 0.00
Specified O/C Amount 4,382,011.35
Overcollateralized Amount 824,130.67
Overcollateralized Deficiency Amount 4,381,778.53
Base Overcollateralization Amount 0.00
Group Level Collateral Statement
<s> <c> <c>
Group 1 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed Mixed & ARM & Balloon
Weighted Average Coupon Rate 8.906911 8.197023 9.818339
Weighted Average Net Rate 8.436897 7.660749 9.321180
Weighted Average Remaining Term 231 351 280
Beginning Loan Count 1,549 362 1,911
Loans Paid In Full 43 15 58
Ending Loan Count 1,506 347 1,853
Beginning Scheduled Balance 112,473,449.00 78,048,783.82 190,522,232.82
Ending Scheduled Balance 109,522,445.92 74,559,811.69 184,082,257.61
Record Date 11/30/2005 11/30/2005 11/30/2005
Principal And Interest Constant 1,086,416.77 577,338.15 1,663,754.92
Scheduled Principal 251,590.91 44,198.41 295,789.32
Unscheduled Principal 2,699,412.17 3,444,773.72 6,144,185.89
Scheduled Interest 834,825.86 533,139.74 1,367,965.60
Servicing Fee 44,053.42 34,879.65 78,933.07
Master Servicing Fee 4,217.75 2,926.83 7,144.58
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 1,874.56 1,300.81 3,175.37
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 784,680.13 494,032.45 1,278,712.58
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 97682.47
Prepayment Penalty Paid Count Not Available Not Available 14
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 8.371897 7.595749 9.256179
<FN>
</FN>
Additional Reporting - Deal Level
Informational Reporting
<s> <c>
Deliquency Percentage 0.155886%
Structural Reporting
<s> <c>
Overcollateralization Amount 824,130.67
Overcollateralization Deficiency Amount 4,381,778.53
Overcollateralization Reduction Amount 0.00
Overcollateralization Surplus Amount 0.00
Specified Overcollateralization Amount 4,382,011.35
Stepdown in Effect? NO
Stepdown Date 0/37/0
Trigger Event Reporting
<s> <c>
Step Up Cumulative Loss Trigger
Trigger Result Pass
Threshold Value 0.03
Calculated Value 0.00
Step Up Enhancement Delinquency Trigger
Trigger Result Fail
Threshold Value 0.08
Calculated Value 0.16
Step Up Trigger
Trigger Result N/A
Threshold Value N/A
Calculated Value N/A
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 139 0 0 0 139
15,790,291.18 0.00 0.00 0.00 15,790,291.18
60 Days 78 0 0 0 78
10,728,107.64 0.00 0.00 0.00 10,728,107.64
90 Days 29 0 0 0 29
3,450,895.66 0.00 0.00 0.00 3,450,895.66
120 Days 32 0 0 0 32
3,608,692.07 0.00 0.00 0.00 3,608,692.07
150 Days 21 0 0 0 21
1,908,195.43 0.00 0.00 0.00 1,908,195.43
180+ Days 101 0 0 0 101
9,010,685.21 0.00 0.00 0.00 9,010,685.21
Totals 400 0 0 0 400
44,496,867.19 0.00 0.00 0.00 44,496,867.19
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 7.501349% 0.000000% 0.000000% 0.000000% 7.501349%
8.572353% 0.000000% 0.000000% 0.000000% 8.572353%
60 Days 4.209390% 0.000000% 0.000000% 0.000000% 4.209390%
5.824157% 0.000000% 0.000000% 0.000000% 5.824157%
90 Days 1.565030% 0.000000% 0.000000% 0.000000% 1.565030%
1.873448% 0.000000% 0.000000% 0.000000% 1.873448%
120 Days 1.726929% 0.000000% 0.000000% 0.000000% 1.726929%
1.959114% 0.000000% 0.000000% 0.000000% 1.959114%
150 Days 1.133297% 0.000000% 0.000000% 0.000000% 1.133297%
1.035936% 0.000000% 0.000000% 0.000000% 1.035936%
180+ Days 5.450621% 0.000000% 0.000000% 0.000000% 5.450621%
4.891789% 0.000000% 0.000000% 0.000000% 4.891789%
Totals 21.586616% 0.000000% 0.000000% 0.000000% 21.586616%
24.156798% 0.000000% 0.000000% 0.000000% 24.156798%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 675,772.52
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 89 0 0 0 89
6,303,770.02 0.00 0.00 0.00 6,303,770.02
60 Days 47 0 0 0 47
3,647,588.60 0.00 0.00 0.00 3,647,588.60
90 Days 21 0 0 0 21
1,886,709.57 0.00 0.00 0.00 1,886,709.57
120 Days 26 0 0 0 26
2,334,478.40 0.00 0.00 0.00 2,334,478.40
150 Days 20 0 0 0 20
1,696,869.01 0.00 0.00 0.00 1,696,869.01
180+ Days 87 0 0 0 87
7,375,535.63 0.00 0.00 0.00 7,375,535.63
Totals 290 0 0 0 290
23,244,951.23 0.00 0.00 0.00 23,244,951.23
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 5.909695% 0.000000% 0.000000% 0.000000% 5.909695%
5.750249% 0.000000% 0.000000% 0.000000% 5.750249%
60 Days 3.120850% 0.000000% 0.000000% 0.000000% 3.120850%
3.327301% 0.000000% 0.000000% 0.000000% 3.327301%
90 Days 1.394422% 0.000000% 0.000000% 0.000000% 1.394422%
1.721042% 0.000000% 0.000000% 0.000000% 1.721042%
120 Days 1.726428% 0.000000% 0.000000% 0.000000% 1.726428%
2.129493% 0.000000% 0.000000% 0.000000% 2.129493%
150 Days 1.328021% 0.000000% 0.000000% 0.000000% 1.328021%
1.547870% 0.000000% 0.000000% 0.000000% 1.547870%
180+ Days 5.776892% 0.000000% 0.000000% 0.000000% 5.776892%
6.727905% 0.000000% 0.000000% 0.000000% 6.727905%
Totals 19.256308% 0.000000% 0.000000% 0.000000% 19.256308%
21.203861% 0.000000% 0.000000% 0.000000% 21.203861%
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 50 0 0 0 50
9,486,521.16 0.00 0.00 0.00 9,486,521.16
60 Days 31 0 0 0 31
7,080,519.04 0.00 0.00 0.00 7,080,519.04
90 Days 8 0 0 0 8
1,564,186.09 0.00 0.00 0.00 1,564,186.09
120 Days 6 0 0 0 6
1,274,213.67 0.00 0.00 0.00 1,274,213.67
150 Days 1 0 0 0 1
211,326.42 0.00 0.00 0.00 211,326.42
180+ Days 14 0 0 0 14
1,635,149.58 0.00 0.00 0.00 1,635,149.58
Totals 110 0 0 0 110
21,251,915.96 0.00 0.00 0.00 21,251,915.96
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 14.409222% 0.000000% 0.000000% 0.000000% 14.409222%
12.720923% 0.000000% 0.000000% 0.000000% 12.720923%
60 Days 8.933718% 0.000000% 0.000000% 0.000000% 8.933718%
9.494602% 0.000000% 0.000000% 0.000000% 9.494602%
90 Days 2.305476% 0.000000% 0.000000% 0.000000% 2.305476%
2.097491% 0.000000% 0.000000% 0.000000% 2.097491%
120 Days 1.729107% 0.000000% 0.000000% 0.000000% 1.729107%
1.708653% 0.000000% 0.000000% 0.000000% 1.708653%
150 Days 0.288184% 0.000000% 0.000000% 0.000000% 0.288184%
0.283378% 0.000000% 0.000000% 0.000000% 0.283378%
180+ Days 4.034582% 0.000000% 0.000000% 0.000000% 4.034582%
2.192649% 0.000000% 0.000000% 0.000000% 2.192649%
Totals 31.700288% 0.000000% 0.000000% 0.000000% 31.700288%
28.497696% 0.000000% 0.000000% 0.000000% 28.497696%
180+ Delinquency Summary
Summary Group 1
Days Number of Aggregate Percentage of Number of Aggregate Percentage of
Delinquent Loans Outstanding Balance(%) Loans Oustanding Balance(%)
Balance($) Balance($)
<s> <c> <c> <c> <c> <c> <c>
180 - 209 21 1,208,614.16 0.656 17 882,206.94 0.805
210 - 239 11 1,129,026.06 0.613 10 1,022,560.78 0.933
240 - 269 11 668,679.81 0.363 11 668,679.81 0.610
270 - 299 11 1,565,824.97 0.850 9 1,167,531.27 1.065
300 - 329 6 831,082.65 0.451 5 495,196.75 0.452
330 - 359 6 514,609.51 0.279 5 440,955.31 0.402
360 - 389 4 263,809.63 0.143 4 263,809.63 0.241
390 - 419 5 243,390.16 0.132 5 243,390.16 0.222
420 - 449 2 158,513.70 0.086 2 158,513.70 0.145
450 - 479 6 365,216.94 0.198 4 197,789.73 0.180
480 - 509 1 682,240.72 0.370 1 682,240.72 0.622
510 - 539 1 60,816.36 0.033 1 60,816.36 0.055
540 - 569 2 170,988.05 0.093 2 170,988.05 0.156
570 - 599 1 135,862.67 0.074 1 135,862.67 0.124
600 - 629 2 196,370.73 0.107 2 196,370.73 0.179
630 - 659 3 251,444.50 0.137 2 188,675.28 0.172
690 - 719 2 232,199.81 0.126 1 105,403.77 0.096
720 - 749 2 148,455.93 0.081 2 148,455.93 0.135
870 - 899 1 37,450.81 0.020 0 0.00 0.000
1020 - 1049 1 11,357.49 0.006 1 11,357.49 0.010
1050 - 1079 1 56,933.28 0.031 1 56,933.28 0.052
1080 - 1109 1 77,797.27 0.042 1 77,797.27 0.071
Total 101 9,010,685.21 4.891 87 7,375,535.63 6.727
180+ Delinquency Summary (continued)
Group 2
Days Number of Aggregate Percentage of
Delinquent Loans Outstanding Balance(%)
Balance($)
<s> <c> <c> <c>
180 - 209 4 326,407.22 0.438
210 - 239 1 106,465.28 0.143
240 - 269 0 0.00 0.000
270 - 299 2 398,293.70 0.534
300 - 329 1 335,885.90 0.450
330 - 359 1 73,654.20 0.099
360 - 389 0 0.00 0.000
390 - 419 0 0.00 0.000
420 - 449 0 0.00 0.000
450 - 479 2 167,427.21 0.225
480 - 509 0 0.00 0.000
510 - 539 0 0.00 0.000
540 - 569 0 0.00 0.000
570 - 599 0 0.00 0.000
600 - 629 0 0.00 0.000
630 - 659 1 62,769.22 0.084
690 - 719 1 126,796.04 0.170
720 - 749 0 0.00 0.000
870 - 899 1 37,450.81 0.050
1020 - 1049 0 0.00 0.000
1050 - 1079 0 0.00 0.000
1080 - 1109 0 0.00 0.000
Total 14 1,635,149.58 2.193
<FN>
This report includes all loans greater than 180 days delinquent
regardless of status (REO, Foreclosure, Bankruptcy).
</FN>
REO Detail - All Mortgage Loans in REO during Current Period
Summary 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 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.
Group 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.
Group 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.
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.
Group 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.
Group 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 0.000%
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.
Group 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.
Group 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 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>
Group 1 0 0.00 0.00 0.000%
Group 2 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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.
Group 1
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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.
Group 2
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
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>
Group 1 43 3,127,067.00 2,678,876.63 0 0.00 0.00
Group 2 15 3,453,750.00 3,440,656.80 0 0.00 0.00
Total 58 6,580,817.00 6,119,533.43 0 0.00 0.00
Prepayment Detail - Prepayments during Current Period (continued)
Summary
Substitution Loans Liquidated Loans Curtailments
Original Current Original Current
Principal Principal Principal Principal Curtailment
Group Count Balance Balance Count Balance Balance Amount
<s> <c> <c> <c> <c> <c> <c> <c>
Group 1 0 0.00 0.00 0 0.00 0.00 27,281.31
Group 2 0 0.00 0.00 0 0.00 0.00 6,085.53
Total 0 0.00 0.00 0 0.00 0.00 33,366.84
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 0110259960 CO 79.98 01-Feb-1994 248,000.00 204,701.00
Group 1 0110369473 OH 9.09 11-Dec-1998 15,000.00 8,350.48
Group 1 0110388912 CA 80.00 01-Aug-2004 256,000.00 253,093.66
Group 1 0110388934 CA 100.00 01-Jul-2004 39,800.00 39,478.63
Group 1 0110407831 KY 80.00 01-Oct-2000 84,000.00 81,608.85
Group 1 0110524749 TX 100.00 01-May-2005 120,000.00 119,618.18
Group 1 0110786777 WA 100.00 01-Aug-2004 32,000.00 31,308.56
Group 1 0110786812 CA 100.00 01-Aug-2004 40,800.00 40,047.10
Group 1 0110786873 AZ 100.00 01-Dec-2004 35,600.00 34,855.67
Group 1 0110786913 OR 100.00 01-Jul-2004 23,600.00 22,922.97
Group 1 0110806516 CA 64.77 01-Apr-2002 427,500.00 409,123.28
Group 1 0110941138 CA 100.00 01-May-2004 43,400.00 42,230.99
Group 1 0111087858 OH 70.00 04-Jun-1998 40,600.00 35.56
Group 1 0111087925 FL 90.00 26-Jun-1998 47,700.00 7,753.82
Group 1 0111087933 KY 100.00 01-Jul-1998 19,000.00 9,494.87
Group 1 0111087950 NY 100.00 12-Jun-1998 28,000.00 10,299.97
Group 1 0111087960 NY 46.67 27-Aug-1998 14,000.00 12,226.92
Group 1 0111087970 NJ 54.71 15-Aug-1998 18,600.00 12,841.70
Group 1 0111087984 WA 100.00 21-Aug-1998 21,800.00 13,418.58
Group 1 0111088240 IL 75.00 25-Jul-1998 30,000.00 24,991.26
Group 1 0111088296 NY 49.22 05-Jul-1998 63,000.00 24,074.33
Group 1 0111088425 NY 39.33 01-Sep-1998 35,000.00 32,661.50
Group 1 0111088520 OH 67.36 22-Jul-1998 53,887.00 35,308.35
Group 1 0111088524 PA 80.00 01-Aug-1998 39,200.00 36,392.16
Group 1 0111088575 GA 41.67 06-Aug-1998 40,000.00 38,501.58
Group 1 0111088677 CA 85.00 01-Aug-1998 45,900.00 43,117.30
Group 1 0111088728 PA 80.00 14-Jul-1998 52,000.00 44,464.76
Group 1 0111088781 IN 54.46 30-Apr-1998 70,800.00 45,654.23
Group 1 0111088847 OH 73.15 27-Aug-1998 53,400.00 50,374.37
Group 1 0111088941 MD 64.08 04-Jul-1998 66,000.00 54,843.23
Group 1 0111088953 IN 80.00 13-Aug-1998 59,200.00 55,802.57
Group 1 0111088976 IA 80.00 01-Aug-1998 60,000.00 56,964.15
Group 1 0111089012 MA 70.00 10-Aug-1998 70,000.00 58,388.21
Group 1 0111089041 SC 82.52 23-Jul-1998 65,600.00 61,162.28
Group 1 0111089069 NM 72.77 01-Aug-1998 67,680.00 64,464.03
Group 1 0111089082 AR 80.00 01-Jul-1998 69,600.00 66,297.13
Group 1 0111089092 MN 80.00 03-Aug-1998 72,000.00 67,523.38
Group 1 0111089120 OH 85.00 10-Apr-1998 74,800.00 1,133.37
Group 1 0111089178 MD 80.00 01-Jul-1998 81,200.00 77,838.92
Group 1 0111089202 ID 80.00 03-Sep-1998 86,400.00 81,536.92
Group 1 0111089264 IL 64.97 01-Sep-1998 102,000.00 95,585.52
Group 1 0111089266 FL 78.46 16-Aug-1998 102,000.00 96,790.02
Group 1 0111089284 IA 70.00 10-Aug-1998 112,000.00 104,850.50
Group 2 0110478600 CA 66.48 01-Jun-2005 480,000.00 478,873.86
Group 2 0110524791 TX 80.00 01-May-2005 480,000.00 477,497.11
Group 2 0110752687 CT 30.30 01-Sep-2005 50,000.00 49,854.87
Group 2 0110752692 FL 28.57 01-Sep-2005 50,000.00 45,337.10
Group 2 0110786750 CA 79.22 01-May-2005 244,000.00 244,000.00
Group 2 0110786928 CT 80.00 01-Jul-2004 127,200.00 126,072.01
Group 2 0110801778 FL 75.00 01-Jun-2005 75,000.00 74,851.55
Group 2 0110809035 FL 65.18 01-Sep-2005 110,800.00 110,687.04
Group 2 0110853800 CA 80.00 01-Jun-2005 508,000.00 505,872.84
Group 2 0110927738 CA 75.00 01-Oct-2005 275,250.00 274,949.61
Group 2 0110939826 CA 70.00 01-Sep-2005 336,000.00 334,942.02
Group 2 0110941156 NY 70.00 01-Jun-2005 234,500.00 234,122.31
Group 2 0110941165 NJ 75.00 01-May-2005 180,000.00 179,598.13
Group 2 0110941199 FL 72.58 01-Jun-2005 135,000.00 134,505.23
Group 2 0110941241 AZ 80.00 01-Jul-2005 168,000.00 167,524.51
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 0110259960 Loan Paid in Full 0 7.250% 360 142
Group 1 0110369473 Loan Paid in Full 0 13.990% 122 84
Group 1 0110388912 Loan Paid in Full 0 7.625% 360 16
Group 1 0110388934 Loan Paid in Full 0 9.990% 180 17
Group 1 0110407831 Loan Paid in Full 0 10.750% 180 62
Group 1 0110524749 Loan Paid in Full 0 9.990% 180 7
Group 1 0110786777 Loan Paid in Full 0 9.750% 240 16
Group 1 0110786812 Loan Paid in Full 0 11.800% 240 16
Group 1 0110786873 Loan Paid in Full 0 9.500% 240 12
Group 1 0110786913 Loan Paid in Full 0 10.900% 240 17
Group 1 0110806516 Loan Paid in Full 0 6.875% 360 44
Group 1 0110941138 Loan Paid in Full 0 9.500% 240 19
Group 1 0111087858 Loan Paid in Full 0 9.990% 240 90
Group 1 0111087925 Loan Paid in Full 0 9.950% 180 89
Group 1 0111087933 Loan Paid in Full 0 10.500% 180 89
Group 1 0111087950 Loan Paid in Full 0 10.990% 120 90
Group 1 0111087960 Loan Paid in Full 0 12.990% 240 87
Group 1 0111087970 Loan Paid in Full 0 10.500% 180 88
Group 1 0111087984 Loan Paid in Full 0 12.790% 180 87
Group 1 0111088240 Loan Paid in Full 0 10.200% 240 88
Group 1 0111088296 Loan Paid in Full 0 11.375% 120 89
Group 1 0111088425 Loan Paid in Full 0 8.990% 360 87
Group 1 0111088520 Loan Paid in Full 0 8.500% 180 88
Group 1 0111088524 Loan Paid in Full 0 8.990% 180 88
Group 1 0111088575 Loan Paid in Full 0 12.500% 360 88
Group 1 0111088677 Loan Paid in Full 0 9.990% 360 88
Group 1 0111088728 Loan Paid in Full 0 11.750% 240 89
Group 1 0111088781 Loan Paid in Full 0 8.500% 180 91
Group 1 0111088847 Loan Paid in Full 0 10.490% 180 87
Group 1 0111088941 Loan Paid in Full 0 9.990% 240 89
Group 1 0111088953 Loan Paid in Full 0 9.950% 360 88
Group 1 0111088976 Loan Paid in Full 0 11.600% 360 88
Group 1 0111089012 Loan Paid in Full 0 10.250% 240 88
Group 1 0111089041 Loan Paid in Full 0 8.950% 360 88
Group 1 0111089069 Loan Paid in Full 0 11.350% 360 88
Group 1 0111089082 Loan Paid in Full 0 11.150% 360 89
Group 1 0111089092 Loan Paid in Full 0 9.600% 180 88
Group 1 0111089120 Loan Paid in Full 0 11.240% 180 92
Group 1 0111089178 Loan Paid in Full 0 11.990% 360 89
Group 1 0111089202 Loan Paid in Full 0 9.990% 180 87
Group 1 0111089264 Loan Paid in Full 0 9.300% 360 87
Group 1 0111089266 Loan Paid in Full 0 10.640% 360 88
Group 1 0111089284 Loan Paid in Full 0 9.350% 180 88
Group 2 0110478600 Loan Paid in Full 0 9.800% 360 6
Group 2 0110524791 Loan Paid in Full 0 7.576% 360 7
Group 2 0110752687 Loan Paid in Full 0 11.000% 360 3
Group 2 0110752692 Loan Paid in Full 0 10.500% 360 3
Group 2 0110786750 Loan Paid in Full 0 6.600% 360 7
Group 2 0110786928 Loan Paid in Full 0 9.525% 360 17
Group 2 0110801778 Loan Paid in Full 0 10.600% 360 6
Group 2 0110809035 Loan Paid in Full 0 12.990% 360 3
Group 2 0110853800 Loan Paid in Full 0 6.950% 360 6
Group 2 0110927738 Loan Paid in Full 0 10.950% 360 2
Group 2 0110939826 Loan Paid in Full 0 7.250% 360 3
Group 2 0110941156 Loan Paid in Full 0 10.500% 360 6
Group 2 0110941165 Loan Paid in Full 0 8.950% 360 7
Group 2 0110941199 Loan Paid in Full 0 8.990% 360 6
Group 2 0110941241 Loan Paid in Full 0 8.900% 360 5
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 3.230% Current Month 32.564% Current Month 542.731%
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 32.564% N/A Dec-2005 542.731% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Group 1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.405% Current Month 25.337% Current Month 422.276%
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 25.337% N/A Dec-2005 422.276% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Group 2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 4.416% Current Month 41.841% Current Month 2,295.812%
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 41.841% N/A Dec-2005 2,295.812% 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 Group 1
Current Number of Aggregate Percentage of Number of Aggregate Percentage of
Interest Rate Loans Outstanding Balance(%) Loans Outstanding Balance(%)
Range(%) Balance($) Balance($)
<s> <c> <c> <c> <c> <c> <c>
< 2.000 0 0.00 0.000 0 0.00 0.000
2.000 2.499 0 0.00 0.000 0 0.00 0.000
2.500 2.999 0 0.00 0.000 0 0.00 0.000
3.000 3.499 0 0.00 0.000 0 0.00 0.000
3.500 3.999 0 0.00 0.000 0 0.00 0.000
4.000 4.499 0 0.00 0.000 0 0.00 0.000
4.500 4.999 0 0.00 0.000 0 0.00 0.000
5.000 5.499 7 2,212,714.43 1.202 2 812,048.44 0.741
5.500 5.999 32 12,192,115.14 6.623 15 5,450,503.45 4.977
6.000 6.499 51 14,402,773.75 7.824 36 9,789,840.00 8.939
6.500 6.999 88 26,344,678.04 14.311 43 15,337,403.90 14.004
7.000 7.499 59 15,415,097.55 8.374 25 6,730,709.85 6.146
7.500 7.999 82 13,580,025.38 7.377 34 4,177,863.63 3.815
8.000 8.499 71 8,576,919.50 4.659 47 5,011,420.66 4.576
8.500 8.999 170 17,350,837.29 9.426 137 8,242,909.82 7.526
9.000 9.499 112 8,944,145.50 4.859 94 5,689,862.32 5.195
9.500 9.999 260 13,275,473.90 7.212 240 11,204,991.19 10.231
10.000 10.499 137 8,067,565.68 4.383 123 6,382,163.13 5.827
10.500 10.999 305 18,513,450.28 10.057 270 12,925,366.35 11.802
11.000 11.499 128 6,592,217.06 3.581 108 4,463,941.59 4.076
11.500 11.999 180 10,735,952.39 5.832 153 6,530,068.64 5.962
12.000 12.499 60 3,017,046.52 1.639 55 2,005,762.16 1.831
12.500 12.999 97 3,003,399.36 1.632 95 2,909,744.95 2.657
13.000 13.499 18 607,761.25 0.330 18 607,761.25 0.555
13.500 13.999 29 641,808.01 0.349 29 641,808.01 0.586
14.000 14.499 8 194,284.54 0.106 8 194,284.54 0.177
14.500 14.999 14 370,336.72 0.201 14 370,336.72 0.338
>= 15.000 3 43,655.32 0.024 3 43,655.32 0.040
Total 1,911 184,082,257.61 100.000 1,549 109,522,445.92 100.000
Interest Rate Stratification (continued)
Group 2
Current Number of Aggregate Percentage of
Interest Rate Loans Outstanding Balance(%)
Range(%) Balance($)
<s> <c> <c> <c>
< 2.000 0 0.00 0.000
2.000 2.499 0 0.00 0.000
2.500 2.999 0 0.00 0.000
3.000 3.499 0 0.00 0.000
3.500 3.999 0 0.00 0.000
4.000 4.499 0 0.00 0.000
4.500 4.999 0 0.00 0.000
5.000 5.499 5 1,400,665.99 1.879
5.500 5.999 17 6,741,611.69 9.042
6.000 6.499 15 4,612,933.75 6.187
6.500 6.999 45 11,007,274.14 14.763
7.000 7.499 34 8,684,387.70 11.648
7.500 7.999 48 9,402,161.75 12.610
8.000 8.499 24 3,565,498.84 4.782
8.500 8.999 33 9,107,927.47 12.216
9.000 9.499 18 3,254,283.18 4.365
9.500 9.999 20 2,070,482.71 2.777
10.000 10.499 14 1,685,402.55 2.260
10.500 10.999 35 5,588,083.93 7.495
11.000 11.499 20 2,128,275.47 2.854
11.500 11.999 27 4,205,883.75 5.641
12.000 12.499 5 1,011,284.36 1.356
12.500 12.999 2 93,654.41 0.126
13.000 13.499 0 0.00 0.000
13.500 13.999 0 0.00 0.000
14.000 14.499 0 0.00 0.000
14.500 14.999 0 0.00 0.000
>= 15.000 0 0.00 0.000
Total 362 74,559,811.69 100.000
Supplemental Reporting
<s> <c>
Closing Date
November 30, 2005
Determination Date
With respect to (i) Ocwen and each Distribution Date, the 15th day of the calendar month in which such Distribution Date occurs, or
if such 15th day is not a Business Day, the Business Day immediately preceding such 15th day and (ii) Wells Fargo and each
Distribution Date, the Business Day preceding the related Servicer Remittance Date. With WAMU, the date specified in the Servicing
Agreement. The Determination Date for purposes of Article X hereof shall mean the 15th day of the month or, if such 15th day is not
a Business Day, the first Business Day following such 15th day.
Distribution Date
The 25th day of any month, or if such 25th day is not a Business Day, the Business Day immediately following such 25th day,
commencing in December 2005.
Interest Determination Date
With respect to the Class A Certificates, Mezzanine Certificates, Class B-1 Certificates, REMIC II Regular Interest A, REMIC II
Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular
Interest M-5, REMIC II Regular Interest B-1 and the REMIC I Regular Interests and any Interest Accrual Period therefor, the second
London Business Day preceding the commencement of such Interest Accrual Period.
Record Date
With respect to each Distribution Date and the Class A, Mezzanine and Class B-1 Certificates, the Business Day immediately preceding
such Distribution Date for so long as such Certificates are Book-Entry Certificates. With respect to each Distribution Date and any
other Class of Certificates, including any Definitive Certificates, the last day of the calendar month immediately preceding the
month in which such Distribution Date occurs.
Release Date
The 40th day after the later of (i) commencement of the offering of the Class B-1, Class CE-1 or Class CE-2 Certificates and (ii)
the Closing Date.
Servicer Remittance Date
With respect to any Distribution Date and (i) Ocwen and Wells Fargo, by 12:00 p.m. New York time on the 22nd day of the month in
which such Distribution Date occurs; provided that if such 22nd day of a given month is not a Business Day, the Servicer Remittance
Date for such month shall be the Business Day immediately preceding such 22nd day and (ii) WAMU, as set forth in the Servicing
Agreement.
Record Date
With respect to the Adjustable Rate Certificates, the Business Day prior to the related Distribution Date and with respect to the
Certificates other than theAdjustable Rate Certificates, the last Business Day of the month immediately preceding the month in which
the related Distribution Date occurs.
Release Date
The 40th day after the later of (i) commencement of the offering of the Certificates and (ii) the Closing Date.
Servicer Remittance Date
With respect to each Distribution Date shall mean (i) with respect to National City, American Home and GMAC, the 18th day of the
calendar month in which such Distribution Date occurs or, if such 18th day is not a Business Day, the Business Day immediately
preceding such 18th day, (ii) with respect to GreenPoint, the 10th day of the calendar month in which such Distribution Date occurs
or, if such 10th day is not a Business Day, the Business Day immediately preceding such 10th day and (iii) with respect to Wells
Fargo, the 22nd day of the calendar month in which such Distribution Date occurs or, if such 22nd day is not a Business Day, the
Business Day immediately preceding such 22nd day.