-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UY5kPmQDWzqx+7YrfBBg8nvhntqxXX6kQenqS/RmaQc1kxXOeLBcY8oBReSjQYZ5 QMEfApOoo1IRjUAGrPFtrw== 0001056404-04-004169.txt : 20041202 0001056404-04-004169.hdr.sgml : 20041202 20041202151624 ACCESSION NUMBER: 0001056404-04-004169 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041126 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041202 DATE AS OF CHANGE: 20041202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STRUCTURED ASSET SEC CORP MORT PASS THR CERTS SERIES 2004-3 CENTRAL INDEX KEY: 0001285904 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-106925-31 FILM NUMBER: 041180429 BUSINESS ADDRESS: STREET 1: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 8-K 1 sai04003_nov.txt NOVEMBER 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 26, 2004 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106925-31 54-2150448 Pooling and Servicing Agreement) (Commission 54-2150449 (State or other File Number) 54-2150450 jurisdiction 54-2150536 of Incorporation) IRS EIN c/o Wells Fargo Bank, N.A., 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On November 26, 2004 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2004-3 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 2004-3 Trust, relating to the November 26, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report 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. STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-3 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 11/26/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-3 Trust, relating to the November 26, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report EX-99.1
Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 10/31/2004 Distribution Date: 11/26/2004 SAIL Series: 2004-3 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A1 86358EGX8 SEN 2.09250% 792,325,814.63 1,473,726.00 58,493,515.74 A2 86358EGY6 SEN 2.07250% 144,576,218.94 266,341.52 9,782,168.07 A3 86358EGZ3 SEN 2.20600% 510,487,000.00 938,445.26 0.00 A4 86358EHA7 SEN 2.03250% 102,894,134.72 185,895.40 10,794,573.55 A5 86358EHB5 SEN 2.13250% 56,645,000.00 107,373.74 0.00 A-IO 86358EHC3 IO 6.00000% 0.00 2,028,409.98 0.00 M1 86358EHD1 MEZ 2.58250% 107,055,000.00 245,750.70 0.00 M2 86358EHE9 MEZ 3.73250% 61,979,000.00 205,632.55 0.00 M3 86358EHF6 MEZ 3.88250% 16,903,000.00 58,334.13 0.00 M4 86358EHG4 MEZ 4.68250% 16,903,000.00 70,354.04 0.00 M5 86358EHH2 MEZ 4.93250% 16,903,000.00 74,110.26 0.00 M6 86358EHJ8 MEZ 4.93250% 11,268,000.00 49,403.92 0.00 B 86358EHK5 SUB 6.00000% 13,523,000.00 67,615.00 0.00 X SAI04003X SEN 0.00000% 11,270,528.37 5,341,915.64 0.00 P SAI04003P SEN 0.00000% 100.00 1,515,856.88 0.00 R SAI4003R4 SEN 0.00000% 0.00 0.00 0.00 Totals 1,862,732,796.66 12,629,165.02 79,070,257.36
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 733,832,298.89 59,967,241.74 0.00 A2 0.00 134,794,050.87 10,048,509.59 0.00 A3 0.00 510,487,000.00 938,445.26 0.00 A4 0.00 92,099,561.16 10,980,468.95 0.00 A5 0.00 56,645,000.00 107,373.74 0.00 A-IO 0.00 0.00 2,028,409.98 0.00 M1 0.00 107,055,000.00 245,750.70 0.00 M2 0.00 61,979,000.00 205,632.55 0.00 M3 0.00 16,903,000.00 58,334.13 0.00 M4 0.00 16,903,000.00 70,354.04 0.00 M5 0.00 16,903,000.00 74,110.26 0.00 M6 0.00 11,268,000.00 49,403.92 0.00 B 0.00 13,523,000.00 67,615.00 0.00 X 0.00 11,270,528.37 5,341,915.64 0.00 P 0.00 100.00 1,515,856.88 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 1,783,662,539.29 91,699,422.38 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A1 1,066,796,000.00 792,325,814.63 0.00 58,493,515.74 0.00 0.00 A2 200,000,000.00 144,576,218.94 0.00 9,782,168.07 0.00 0.00 A3 510,487,000.00 510,487,000.00 0.00 0.00 0.00 0.00 A4 164,054,000.00 102,894,134.72 0.00 10,794,573.55 0.00 0.00 A5 56,645,000.00 56,645,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M1 107,055,000.00 107,055,000.00 0.00 0.00 0.00 0.00 M2 61,979,000.00 61,979,000.00 0.00 0.00 0.00 0.00 M3 16,903,000.00 16,903,000.00 0.00 0.00 0.00 0.00 M4 16,903,000.00 16,903,000.00 0.00 0.00 0.00 0.00 M5 16,903,000.00 16,903,000.00 0.00 0.00 0.00 0.00 M6 11,268,000.00 11,268,000.00 0.00 0.00 0.00 0.00 B 13,523,000.00 13,523,000.00 0.00 0.00 0.00 0.00 X 11,270,528.37 11,270,528.37 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Totals 2,253,786,628.37 1,862,732,796.66 0.00 79,070,257.36 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1 58,493,515.74 733,832,298.89 0.68788437 58,493,515.74 A2 9,782,168.07 134,794,050.87 0.67397025 9,782,168.07 A3 0.00 510,487,000.00 1.00000000 0.00 A4 10,794,573.55 92,099,561.16 0.56139784 10,794,573.55 A5 0.00 56,645,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M1 0.00 107,055,000.00 1.00000000 0.00 M2 0.00 61,979,000.00 1.00000000 0.00 M3 0.00 16,903,000.00 1.00000000 0.00 M4 0.00 16,903,000.00 1.00000000 0.00 M5 0.00 16,903,000.00 1.00000000 0.00 M6 0.00 11,268,000.00 1.00000000 0.00 B 0.00 13,523,000.00 1.00000000 0.00 X 0.00 11,270,528.37 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 79,070,257.36 1,783,662,539.29 0.79140701 79,070,257.36
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 1,066,796,000.00 742.71539697 0.00000000 54.83102274 0.00000000 A2 200,000,000.00 722.88109470 0.00000000 48.91084035 0.00000000 A3 510,487,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A4 164,054,000.00 627.19674449 0.00000000 65.79890493 0.00000000 A5 56,645,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 107,055,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 61,979,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 16,903,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 16,903,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 16,903,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 11,268,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 13,523,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 11,270,528.37 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 100.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are Per 1,000 Denomination
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 54.83102274 687.88437423 0.68788437 54.83102274 A2 0.00000000 48.91084035 673.97025435 0.67397025 48.91084035 A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A4 0.00000000 65.79890493 561.39783949 0.56139784 65.79890493 A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 100.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1 1,066,796,000.00 2.09250% 792,325,814.63 1,473,726.02 0.00 0.00 A2 200,000,000.00 2.07250% 144,576,218.94 266,341.52 0.00 0.00 A3 510,487,000.00 2.20600% 510,487,000.00 938,445.27 0.00 0.00 A4 164,054,000.00 2.03250% 102,894,134.72 185,895.40 0.00 0.00 A5 56,645,000.00 2.13250% 56,645,000.00 107,373.74 0.00 0.00 A-IO 0.00 6.00000% 405,682,000.00 2,028,410.00 0.00 0.00 M1 107,055,000.00 2.58250% 107,055,000.00 245,750.70 0.00 0.00 M2 61,979,000.00 3.73250% 61,979,000.00 205,632.55 0.00 0.00 M3 16,903,000.00 3.88250% 16,903,000.00 58,334.13 0.00 0.00 M4 16,903,000.00 4.68250% 16,903,000.00 70,354.04 0.00 0.00 M5 16,903,000.00 4.93250% 16,903,000.00 74,110.26 0.00 0.00 M6 11,268,000.00 4.93250% 11,268,000.00 49,403.92 0.00 0.00 B 13,523,000.00 6.00000% 13,523,000.00 67,615.00 0.00 0.00 X 11,270,528.37 0.00000% 11,270,528.37 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 2,253,786,628.37 5,771,392.55 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A1 0.02 0.00 1,473,726.00 0.00 733,832,298.89 A2 0.00 0.00 266,341.52 0.00 134,794,050.87 A3 0.01 0.00 938,445.26 0.00 510,487,000.00 A4 0.00 0.00 185,895.40 0.00 92,099,561.16 A5 0.00 0.00 107,373.74 0.00 56,645,000.00 A-IO 0.02 0.00 2,028,409.98 0.00 405,682,000.00 M1 0.00 0.00 245,750.70 0.00 107,055,000.00 M2 0.00 0.00 205,632.55 0.00 61,979,000.00 M3 0.00 0.00 58,334.13 0.00 16,903,000.00 M4 0.00 0.00 70,354.04 0.00 16,903,000.00 M5 0.00 0.00 74,110.26 0.00 16,903,000.00 M6 0.00 0.00 49,403.92 0.00 11,268,000.00 B 0.00 0.00 67,615.00 0.00 13,523,000.00 X 0.00 0.00 5,341,915.64 0.00 11,270,528.37 P 0.00 0.00 1,515,856.88 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.05 0.00 12,629,165.02 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A1 1,066,796,000.00 2.09250% 742.71539697 1.38145064 0.00000000 0.00000000 A2 200,000,000.00 2.07250% 722.88109470 1.33170760 0.00000000 0.00000000 A3 510,487,000.00 2.20600% 1000.00000000 1.83833334 0.00000000 0.00000000 A4 164,054,000.00 2.03250% 627.19674449 1.13313543 0.00000000 0.00000000 A5 56,645,000.00 2.13250% 1000.00000000 1.89555548 0.00000000 0.00000000 A-IO 0.00 6.00000% 750.00046218 3.75000231 0.00000000 0.00000000 M1 107,055,000.00 2.58250% 1000.00000000 2.29555556 0.00000000 0.00000000 M2 61,979,000.00 3.73250% 1000.00000000 3.31777780 0.00000000 0.00000000 M3 16,903,000.00 3.88250% 1000.00000000 3.45111105 0.00000000 0.00000000 M4 16,903,000.00 4.68250% 1000.00000000 4.16222209 0.00000000 0.00000000 M5 16,903,000.00 4.93250% 1000.00000000 4.38444418 0.00000000 0.00000000 M6 11,268,000.00 4.93250% 1000.00000000 4.38444444 0.00000000 0.00000000 B 13,523,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 X 11,270,528.37 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 100.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are Per 1,000 Denomination
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A1 0.00000002 0.00000000 1.38145062 0.00000000 687.88437423 A2 0.00000000 0.00000000 1.33170760 0.00000000 673.97025435 A3 0.00000002 0.00000000 1.83833332 0.00000000 1000.00000000 A4 0.00000000 0.00000000 1.13313543 0.00000000 561.39783949 A5 0.00000000 0.00000000 1.89555548 0.00000000 1000.00000000 A-IO 0.00000004 0.00000000 3.75000227 0.00000000 750.00046218 M1 0.00000000 0.00000000 2.29555556 0.00000000 1000.00000000 M2 0.00000000 0.00000000 3.31777780 0.00000000 1000.00000000 M3 0.00000000 0.00000000 3.45111105 0.00000000 1000.00000000 M4 0.00000000 0.00000000 4.16222209 0.00000000 1000.00000000 M5 0.00000000 0.00000000 4.38444418 0.00000000 1000.00000000 M6 0.00000000 0.00000000 4.38444444 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000 X 0.00000000 0.00000000 473.97206809 0.00000000 1000.00000000 P 0.00000000 0.00000000 1515856.88000000 0.00000000 100.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Certificateholder Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage A3_1 2.20600% 0.00 0.00 365,146,390.00 365,146,390.00 100.00000000% A3_2 2.20600% 0.00 0.00 145,340,610.00 145,340,610.00 100.00000000%
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 92,915,020.70 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 23,363.76 Prepayment Penalties 0.00 Total Deposits 92,938,384.46 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 1,238,962.08 Payment of Interest and Principal 91,699,422.38 Total Withdrawals (Pool Distribution Amount) 92,938,384.46 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 760,359.59 Credit Risk Managment Fee 23,284.16 PMI Insurance Premium Fee 455,318.33 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 1,238,962.08
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 1,104,440.20 1,104,440.20 1,000.00 Financial Guaranty 0.00 1,104,440.20 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 41 0 0 41 4,809,427.15 0.00 0.00 4,809,427.15 30 Days 235 2 0 1 238 38,162,297.93 198,047.21 0.00 64,739.39 38,425,084.53 60 Days 110 2 8 0 120 18,836,486.63 161,040.87 1,309,328.40 0.00 20,306,855.90 90 Days 28 6 60 0 94 3,875,778.37 943,454.55 10,437,835.90 0.00 15,257,068.82 120 Days 13 6 51 1 71 1,685,488.12 909,621.41 8,023,034.97 53,835.26 10,671,979.76 150 Days 6 9 37 3 55 676,763.48 1,307,701.29 7,030,825.23 385,325.26 9,400,615.26 180+ Days 15 5 65 20 105 1,303,706.62 600,623.74 11,190,291.39 2,391,527.79 15,486,149.54 Totals 407 71 221 25 724 64,540,521.15 8,929,916.22 37,991,315.89 2,895,427.70 114,357,180.96 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 0.383428% 0.000000% 0.000000% 0.383428% 0.269393% 0.000000% 0.000000% 0.269393% 30 Days 2.197699% 0.018704% 0.000000% 0.009352% 2.225755% 2.137606% 0.011093% 0.000000% 0.003626% 2.152326% 60 Days 1.028710% 0.018704% 0.074815% 0.000000% 1.122229% 1.055099% 0.009020% 0.073340% 0.000000% 1.137459% 90 Days 0.261854% 0.056111% 0.561115% 0.000000% 0.879080% 0.217096% 0.052846% 0.584660% 0.000000% 0.854603% 120 Days 0.121575% 0.056111% 0.476948% 0.009352% 0.663986% 0.094410% 0.050951% 0.449399% 0.003016% 0.597776% 150 Days 0.056111% 0.084167% 0.346021% 0.028056% 0.514355% 0.037908% 0.073249% 0.393822% 0.021583% 0.526562% 180+ Days 0.140279% 0.046760% 0.607874% 0.187038% 0.981951% 0.073025% 0.033643% 0.626808% 0.133958% 0.867434% Totals 3.806228% 0.663986% 2.066773% 0.233798% 6.770785% 3.615145% 0.500196% 2.128029% 0.162183% 6.405553%
Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(A) 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 8 0 0 8 571,384.93 0.00 0.00 571,384.93 30 Days 59 0 0 1 60 7,125,685.11 0.00 0.00 64,739.39 7,190,424.50 60 Days 21 0 3 0 24 1,651,512.32 0.00 204,301.30 0.00 1,855,813.62 90 Days 11 0 7 0 18 672,148.60 0.00 825,707.37 0.00 1,497,855.97 120 Days 6 1 7 0 14 397,782.65 85,323.32 1,018,236.15 0.00 1,501,342.12 150 Days 3 1 3 0 7 140,183.98 58,290.03 471,140.51 0.00 669,614.52 180 Days 9 0 9 2 20 610,605.17 0.00 745,879.64 116,436.91 1,472,921.72 Totals 109 10 29 3 151 10,597,917.83 714,998.28 3,265,264.97 181,176.30 14,759,357.38 0-29 Days 0.243754% 0.000000% 0.000000% 0.243754% 0.143823% 0.000000% 0.000000% 0.143823% 30 Days 1.797684% 0.000000% 0.000000% 0.030469% 1.828154% 1.793607% 0.000000% 0.000000% 0.016296% 1.809903% 60 Days 0.639854% 0.000000% 0.091408% 0.000000% 0.731261% 0.415702% 0.000000% 0.051425% 0.000000% 0.467127% 90 Days 0.335161% 0.000000% 0.213285% 0.000000% 0.548446% 0.169187% 0.000000% 0.207839% 0.000000% 0.377026% 120 Days 0.182815% 0.030469% 0.213285% 0.000000% 0.426569% 0.100126% 0.021477% 0.256300% 0.000000% 0.377903% 150 Days 0.091408% 0.030469% 0.091408% 0.000000% 0.213285% 0.035286% 0.014672% 0.118591% 0.000000% 0.168549% 180 Days 0.274223% 0.000000% 0.274223% 0.060938% 0.609385% 0.153696% 0.000000% 0.187745% 0.029308% 0.370749% Totals 3.321146% 0.304692% 0.883608% 0.091408% 4.600853% 2.667603% 0.179972% 0.821900% 0.045604% 3.715080% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(B) 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 23 0 0 23 3,124,417.28 0.00 0.00 3,124,417.28 30 Days 118 1 0 0 119 19,494,500.28 108,501.71 0.00 0.00 19,603,001.99 60 Days 56 2 4 0 62 9,819,072.50 161,040.87 626,161.10 0.00 10,606,274.47 90 Days 13 2 31 0 46 2,467,445.65 306,803.89 5,513,940.69 0.00 8,288,190.23 120 Days 2 4 28 0 34 455,465.90 786,109.71 4,465,241.81 0.00 5,706,817.42 150 Days 2 2 26 2 32 431,790.36 249,888.51 3,993,156.91 333,438.72 5,008,274.50 180 Days 3 3 40 13 59 472,840.96 492,790.36 7,050,882.73 1,508,466.66 9,524,980.71 Totals 194 37 129 15 375 33,141,115.65 5,229,552.33 21,649,383.24 1,841,905.38 61,861,956.60 0-29 Days 0.439015% 0.000000% 0.000000% 0.439015% 0.352569% 0.000000% 0.000000% 0.352569% 30 Days 2.252338% 0.019088% 0.000000% 0.000000% 2.271426% 2.199823% 0.012244% 0.000000% 0.000000% 2.212067% 60 Days 1.068906% 0.038175% 0.076350% 0.000000% 1.183432% 1.108016% 0.018172% 0.070658% 0.000000% 1.196847% 90 Days 0.248139% 0.038175% 0.591716% 0.000000% 0.878030% 0.278435% 0.034621% 0.622211% 0.000000% 0.935266% 120 Days 0.038175% 0.076350% 0.534453% 0.000000% 0.648979% 0.051396% 0.088707% 0.503872% 0.000000% 0.643976% 150 Days 0.038175% 0.038175% 0.496278% 0.038175% 0.610804% 0.048725% 0.028198% 0.450601% 0.037626% 0.565150% 180 Days 0.057263% 0.057263% 0.763504% 0.248139% 1.126169% 0.053357% 0.055608% 0.795645% 0.170220% 1.074830% Totals 3.702997% 0.706242% 2.462302% 0.286314% 7.157855% 3.739752% 0.590120% 2.442987% 0.207847% 6.980705% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(A) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 10 0 0 0 10 1,391,081.95 0.00 0.00 0.00 1,391,081.95 60 Days 8 0 1 0 9 1,355,568.43 0.00 478,866.00 0.00 1,834,434.43 90 Days 2 0 1 0 3 195,507.09 0.00 218,835.87 0.00 414,342.96 120 Days 2 0 1 0 3 221,197.94 0.00 126,230.76 0.00 347,428.70 150 Days 1 0 0 0 1 104,789.14 0.00 0.00 0.00 104,789.14 180 Days 2 0 0 1 3 176,799.23 0.00 0.00 102,906.52 279,705.75 Totals 25 0 3 1 29 3,444,943.78 0.00 823,932.63 102,906.52 4,371,782.93 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.733102% 0.000000% 0.000000% 0.000000% 1.733102% 0.851387% 0.000000% 0.000000% 0.000000% 0.851387% 60 Days 1.386482% 0.000000% 0.173310% 0.000000% 1.559792% 0.829651% 0.000000% 0.293081% 0.000000% 1.122732% 90 Days 0.346620% 0.000000% 0.173310% 0.000000% 0.519931% 0.119657% 0.000000% 0.133935% 0.000000% 0.253591% 120 Days 0.346620% 0.000000% 0.173310% 0.000000% 0.519931% 0.135380% 0.000000% 0.077257% 0.000000% 0.212637% 150 Days 0.173310% 0.000000% 0.000000% 0.000000% 0.173310% 0.064134% 0.000000% 0.000000% 0.000000% 0.064134% 180 Days 0.346620% 0.000000% 0.000000% 0.173310% 0.519931% 0.108207% 0.000000% 0.000000% 0.062982% 0.171189% Totals 4.332756% 0.000000% 0.519931% 0.173310% 5.025997% 2.108416% 0.000000% 0.504273% 0.062982% 2.675671% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(B) 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 10 0 0 10 1,113,624.94 0.00 0.00 1,113,624.94 30 Days 48 1 0 0 49 10,151,030.59 89,545.50 0.00 0.00 10,240,576.09 60 Days 25 0 0 0 25 6,010,333.38 0.00 0.00 0.00 6,010,333.38 90 Days 2 4 21 0 27 540,677.03 636,650.66 3,879,351.97 0.00 5,056,679.66 120 Days 3 1 15 1 20 611,041.63 38,188.38 2,413,326.25 53,835.26 3,116,391.52 150 Days 0 6 8 1 15 0.00 999,522.75 2,566,527.81 51,886.54 3,617,937.10 180 Days 1 2 16 4 23 43,461.26 107,833.38 3,393,529.02 663,717.70 4,208,541.36 Totals 79 24 60 6 169 17,356,543.89 2,985,365.61 12,252,735.05 769,439.50 33,364,084.05 0-29 Days 0.626959% 0.000000% 0.000000% 0.626959% 0.329062% 0.000000% 0.000000% 0.329062% 30 Days 3.009404% 0.062696% 0.000000% 0.000000% 3.072100% 2.999497% 0.026460% 0.000000% 0.000000% 3.025957% 60 Days 1.567398% 0.000000% 0.000000% 0.000000% 1.567398% 1.775975% 0.000000% 0.000000% 0.000000% 1.775975% 90 Days 0.125392% 0.250784% 1.316614% 0.000000% 1.692790% 0.159763% 0.188122% 1.146298% 0.000000% 1.494183% 120 Days 0.188088% 0.062696% 0.940439% 0.062696% 1.253918% 0.180555% 0.011284% 0.713106% 0.015908% 0.920853% 150 Days 0.000000% 0.376176% 0.501567% 0.062696% 0.940439% 0.000000% 0.295346% 0.758376% 0.015332% 1.069053% 180 Days 0.062696% 0.125392% 1.003135% 0.250784% 1.442006% 0.012842% 0.031863% 1.002744% 0.196120% 1.243569% Totals 4.952978% 1.504702% 3.761755% 0.376176% 10.595611% 5.128632% 0.882137% 3.620523% 0.227359% 9.858652%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.230175% Weighted Average Net Coupon 6.740341% Weighted Average Pass-Through Rate 6.447018% Weighted Average Maturity(Stepdown Calculation ) 347 Beginning Scheduled Collateral Loan Count 11,097 Number Of Loans Paid In Full 404 Ending Scheduled Collateral Loan Count 10,693 Beginning Scheduled Collateral Balance 1,862,732,796.65 Ending Scheduled Collateral Balance 1,783,662,539.29 Ending Actual Collateral Balance at 31-Oct-2004 1,785,281,857.46 Monthly P &I Constant 12,743,905.19 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount (23,363.76) Cumulative Realized Loss (20,218.10) Ending Scheduled Balance for Premium Loans 1,783,662,539.29 Scheduled Principal 1,520,667.70 Unscheduled Principal 77,549,589.66
Miscellaneous Reporting Monthly Excess Cashflow 4,214,111.68 Overcollateralization Amount 11,270,628.37 Overcollateralization Deficiency 0.00 Targeted Overcollateralization Amount 11,270,628.37 Cap Payment 1,104,440.20 reserve fund reinvestment income 0.00
Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.519503 7.224871 6.806915 Weighted Average Net Rate 7.061406 6.724871 6.317082 Weighted Average Maturity 344 344 347 Beginning Loan Count 3,386 5,461 589 Loans Paid In Full 104 222 12 Ending Loan Count 3,282 5,239 577 Beginning Scheduled Balance 411,648,185.05 929,159,754.99 165,817,596.61 Ending scheduled Balance 396,948,781.57 885,372,209.68 163,269,100.13 Record Date 10/31/2004 10/31/2004 10/31/2004 Principal And Interest Constant 2,955,725.41 6,329,132.41 1,070,065.58 Scheduled Principal 376,233.82 734,916.65 129,477.05 Unscheduled Principal 14,323,169.66 43,052,628.66 2,419,019.43 Scheduled Interest 2,579,491.59 5,594,215.76 940,588.53 Servicing Fees 157,145.92 387,149.88 67,685.72 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 115,753.31 238,749.21 21,121.79 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 2,306,592.36 4,968,316.67 851,781.02 Realized Loss Amount 0.00 (23,363.76) 0.00 Cumulative Realized Loss 0.00 (23,363.76) 3,145.66 Percentage of Cumulative Losses 0.0000 (0.0020) 0.0016 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.723972 6.416528 6.164226
Group Level Collateral Statement Group 2(B) Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.106651 7.230175 Weighted Average Net Rate 6.606651 6.740341 Weighted Average Maturity 347 347 Beginning Loan Count 1,661 11,097 Loans Paid In Full 66 404 Ending Loan Count 1,595 10,693 Beginning Scheduled Balance 356,107,260.00 1,862,732,796.65 Ending scheduled Balance 338,072,447.91 1,783,662,539.29 Record Date 10/31/2004 10/31/2004 Principal And Interest Constant 2,388,981.79 12,743,905.19 Scheduled Principal 280,040.18 1,520,667.70 Unscheduled Principal 17,754,771.91 77,549,589.66 Scheduled Interest 2,108,941.61 11,223,237.49 Servicing Fees 148,378.07 760,359.59 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 79,694.02 455,318.33 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 1,880,869.52 10,007,559.57 Realized Loss Amount 0.00 (23,363.76) Cumulative Realized Loss 0.00 (20,218.10) Percentage of Cumulative Losses 0.0000 (0.0009) Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.338100 6.447018
theMurrayhillcompany SAIL 2004-3 Credit Risk Manager Report October 2004 The information contained in this Report is based upon a specific point in time and reflects performance solely through that point in time. It does not forecast the performance of the portfolio in the future. The information in this Report is not investment advice concerning a particular portfolio or security, and no mention of a particular security in this Report constitutes a recommendation to buy, sell, or hold that or any other security. The Report is based upon information provided to The Murrayhill Company by third parties and therefore The Murrayhill Company cannot, and does not, warrant that the information contained in this Report is accurate or complete. Table of Contents Section One Transaction Summary Section Two Prepayment Premium Analysis Section Three Mortgage Insurance Analysis Section Four Loss Analysis Section Five Analytics c 2004 The Murrayhill Company. All Rights Reserved. Section One Transaction Summary SAIL 2004-3 Transaction Summary October 2004 Transaction Summary Closing Date 3/30/2004 Depositor Structured Asset Securities Corporation Trustee LaSalle Bank National Association Securities Administrator Wells Fargo Bank, N.A. Master Servicer Aurora Loan Services Aurora Loan Services, Chase Home Finance, Ocwen Financial Servicers Services, Option One Mortgage, Wells Fargo Mortgage Insurer Mortgage Guaranty Insurance Corporation, Radian Guaranty Delinquency Reporting Method OTS1 Collateral Summary 9/30/2004 as a Percentage Closing Date 9/30/20042 of Closing Date Collateral Balance $2,258,758,614 $1,619,790,480 71.71% Loan Count 13,000 9,787 75.28% Collateral Statistics Loan Count Summed Balance Repurchases3 1 $ 146,268 First Payment Defaults 6 $ 1,434,080 Early Payment Defaults 4 84 $ 12,522,537 Multiple Loans to One Borrower 67 $ 9,610,600 Second Lien Statistics Loan Count Summed Balance Outstanding Second Lien Loans 705 $ 34,030,744 30 Days Delinquent 16 $ 747,421 60 Days Delinquent 9 $ 554,399 90+ Days Delinquent 25 $ 1,694,615 1 OTS Method: A current loan becomes 30 days delinquent if the scheduled payment is not made by the close of business on the corresponding day of the following month. Similarly for 60 days delinquent and the second immediately succeeding month and 90 days delinquent and the third immediately succeeding month. 2 These figures are based upon information provided to Murrayhill by the servicers on a monthly basis. 3 Refers to loans repurchased in the current month 4 A default that occurs on the second or third scheduled payment Mortgage Insurance Analysis Claim Payment Breakdown Number of Claims Summed Balance Claims Paid 0 $0 Claims Pending 3 $81,822.73* Claims Rescinded 0 $0** Claims Without Payment 0 $0 Claims Denied 0 $0 Claims Withdrawn 0 $0 * Estimate based on internal calculations ** Estimated claim payment if coverage has not been rescinded Age of Pending Claims # of <30 30 60 90 120 150 180 210+ Claims 3 2 1 0 0 0 0 0 0 Delinquencies Murrayhill has noticed that delinquency counts have not reconciled between what the servicers are reporting and what is being reported on the remittance statement, particularly for foreclosure loans. We have requested a complete delinquency file from the master servicer that can be used to compare the delinquency counts reported to the securities administrator to those reported by each individual servicer. 10/25/2004 Remittance Delinquency Counts 30 60 90+ FC REO As reported on remittance 245 117 23 178 14 As reported by servicers 237 112 62 187 8 Difference 8 5 -39 -9 6 c 2004 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for SAIL 2004-3 Mortgage Data Through: September 30, 2004 Section 1: Prepayment premiums collected by the servicer and remitted to the trustee. This information is reported to Murrayhill by the servicer each month. Trustee Remittance Date 25-Oct-04 25-Sep-04 25-Aug-04 25-Jul-04 25-Jun-04 25-May-04 Servicers $1,654,710 $1,328,149 $1,255,357 $977,928 $474,944 $376,917 Section 2: Prepayment premiums remitted to the P Class by the trustee. This information is taken from the statement to Certificateholders prepared by the trustee. Trustee Remittance Date 25-Oct-04 25-Sep-04 25-Aug-04 25-Jul-04 25-Jun-04 25-May-04 P Class $1,654,710 $1,328,149 $1,364,285 $978,109 $501,799 $399,200 Section 3: Reconciliation of the amounts remitted by the servicer to the trustee, and the amount remitted to the P Classholders by the trustee. Amount remitted by servicer: $1,654,710 Amount remitted to the P Class: $1,654,710 Difference: $0 Aggregate Paid-Off Loans Report for SAIL 2004-3 Mortgage Data Through: September 30, 2004 Trustee Remittance Date 25-Oct-04 25-Sep-04 25-Aug-04 25-Jul-04 25-Jun-04 25-May-04 Loans with Active Prepayment Flags with Premiums 269 248 234 167 84 74 Remitted (A) Loans without Prepayment Flags with Premiums 0 2 0 2 2 0 Remitted Total Loans with Premiums Remitted (B) 269 250 234 169 86 74 Loans with Active Prepayment Flags (C) 278 248 236 169 90 92 Loans without Prepayment Flags with Premiums 0 2 0 2 2 0 Remitted Subtotal (D) 278 250 236 171 92 92 Premiums Remitted for loans with Active 96.8% 100.0% 99.2% 98.8% 93.3% 80.4% Prepayment Flags (A/C) Total Loans with Premiums Remitted to the 96.8% 100.0% 98.7% 98.8% 93.5% 80.4% Subtotal (B/D) Total Paid-Off Loans (E) 378 345 308 257 154 192 Total Loans with Premiums Remitted to the Total 71.2% 72.5% 76.0% 65.8% 55.8% 38.5% Paid-Off Loans (B/E) Paid-Off Loans Exception Report for SAIL 2004-3 Mortgage Data Through: September 30, 2004 Total Paid-Off Loans with Flags 285 Less Exceptions: Loans with Expired Prepayment Clauses (as stated in the Note)* 2 Loans that Contained a Clause Allowing Prepayment Premiums to be Waived at the Time of Liquidation* 0 Loans that were Liquidated from REO Status* 0 Loans with Discrepancies between the Data File and the Note* 0 Defaulted Liquidated Loans that Could Not Have Premiums Collected because of the Acceleration of the Debt* 4 Loans that were Liquidated Through Loss Mitigation Efforts* 1 Total Paid-Off Loans with Active Prepayment Flags (C) 278 Other Exceptions: Paid-Off Loans that Did Not Collect Premiums because of State Statutes 1 Paid-Off Loans with Active Prepayment Flags that Did Not Have Premiums Remitted 8 * These categories are mutually exclusive. Paid-Off Loans With Prepayment Flags for SAIL 2004-3 Mortgage Data Through: September 30, 2004 Loan Number Delinquency Origination PPP Exp. Date String Date Flag 4652856 CCCCCC0 2/13/2004 5 2/13/2009 4651693 CCCCCC0 12/29/2003 3 12/29/2006 4652154 CCCCCC0 12/16/2003 3 12/16/2006 4646978 CCCCCC0 12/15/2003 3 12/15/2006 4647039 CCCCCC0 12/31/2003 2 12/31/2005 4647518 CCCCCC0 12/17/2003 2 12/17/2005 4646413 CCCCCC0 12/12/2003 2 12/12/2005 4650193 CCCCCC0 12/2/2003 2 12/2/2005 4645058 CCCCCC0 12/12/2003 2 12/12/2005 4870793 99FFF0 12/23/2003 2 12/23/2005 4648971 CC33FF0 12/11/2003 2 12/11/2005 4870647 C3C6F0 12/2/2003 2 12/2/2005 4870402 369FF0 12/2/2003 2 12/2/2005 4870563 369990 12/30/2003 2 12/30/2005 4642305 CCCCCC0 11/24/2003 5 11/24/2008 4642743 CCCCCC0 11/13/2003 5 11/13/2008 4652420 CCCCCC0 1/28/2004 3 1/28/2007 4652120 CCCCCC0 1/2/2004 3 1/2/2007 4648230 CCCCCC0 12/31/2003 3 12/31/2006 4651502 CCCCCC0 12/31/2003 3 12/31/2006 4649345 CCCCCC0 12/31/2003 3 12/31/2006 4651743 CCCCCC0 12/31/2003 3 12/31/2006 4645986 CCCCCC0 12/31/2003 3 12/31/2006 4646581 CCCCCC0 12/31/2003 3 12/31/2006 4647953 CCCCCC0 12/31/2003 3 12/31/2006 4649346 CCCCCC0 12/31/2003 3 12/31/2006 4651181 CCCCCC0 12/31/2003 3 12/31/2006 4651479 CCCCC30 12/30/2003 3 12/30/2006 4651189 CC3CC30 12/30/2003 3 12/30/2006 4651032 CCCCCC0 12/30/2003 3 12/30/2006 4652317 CCCCCC0 12/30/2003 3 12/30/2006 4651194 CCCCCC0 12/30/2003 3 12/30/2006 4870586 3CCCC0 12/30/2003 3 12/30/2006 4651495 CCCCCC0 12/30/2003 3 12/30/2006 4651906 CCCCCC0 12/30/2003 3 12/30/2006 4649842 CCCCCC0 12/29/2003 3 12/29/2006 4644654 99CCCC0 12/29/2003 3 12/29/2006 4649843 CCCCCC0 12/29/2003 3 12/29/2006 4649518 CCCCCC0 12/29/2003 3 12/29/2006 4650283 CCCCCC0 12/29/2003 3 12/29/2006 4644498 CCCCCC0 12/26/2003 3 12/26/2006 4644453 CCCCCC0 12/26/2003 3 12/26/2006 4644504 CCCCCC0 12/26/2003 3 12/26/2006 4650250 CCCCCC0 12/24/2003 3 12/24/2006 4652505 CCCCCC0 12/24/2003 3 12/24/2006 4649774 CCCCCC0 12/23/2003 3 12/23/2006 4649930 CCCCCC0 12/23/2003 3 12/23/2006 4644526 CCCCCC0 12/22/2003 3 12/22/2006 4644535 CCCCCC0 12/22/2003 3 12/22/2006 4651723 CCCCCC0 12/22/2003 3 12/22/2006 4649573 CCCCCC0 12/22/2003 3 12/22/2006 4649242 CCCCC30 12/22/2003 3 12/22/2006 4649658 CCCCCC0 12/19/2003 3 12/19/2006 4646161 CCCCCC0 12/19/2003 3 12/19/2006 4651880 CCCCCC0 12/18/2003 3 12/18/2006 4650927 CCCCCC0 12/18/2003 3 12/18/2006 4643307 CCCCCC0 12/17/2003 3 12/17/2006 4652173 CCCCCC0 12/17/2003 3 12/17/2006 4651176 CCCCCC0 12/17/2003 3 12/17/2006 4647805 CCCCCC0 12/16/2003 3 12/16/2006 4643478 CCCCCC0 12/15/2003 3 12/15/2006 4643907 CCCCCC0 12/15/2003 3 12/15/2006 4650397 CCCCCC0 12/15/2003 3 12/15/2006 4650504 CCCCCC0 12/15/2003 3 12/15/2006 4643737 CCCCCC0 12/13/2003 3 12/13/2006 4649606 CCCCCC0 12/11/2003 3 12/11/2006 4646935 CCCCCC0 12/11/2003 3 12/11/2006 4648052 CCCCCC0 12/9/2003 3 12/9/2006 4648139 CCCCCC0 12/9/2003 3 12/9/2006 4651664 CCCCCC0 12/9/2003 3 12/9/2006 4647274 CCCCCC0 12/8/2003 3 12/8/2006 4647917 CCCCCC0 12/8/2003 3 12/8/2006 4650350 CCCCCC0 12/8/2003 3 12/8/2006 4645899 CCCCCC0 12/5/2003 3 12/5/2006 4646360 CCCCCC0 12/5/2003 3 12/5/2006 4647121 CCCCCC0 12/5/2003 3 12/5/2006 4649404 CCCCCC0 12/5/2003 3 12/5/2006 4649417 CCCCCC0 12/5/2003 3 12/5/2006 4648543 CCCCCC0 12/4/2003 3 12/4/2006 4651118 CCCCCC0 12/4/2003 3 12/4/2006 4651272 CCCCCC0 12/3/2003 3 12/3/2006 4649135 CCCCCC0 12/3/2003 3 12/3/2006 4648593 CCCCCC0 12/2/2003 3 12/2/2006 4647643 CCCCCC0 12/1/2003 3 12/1/2006 4650715 CCCCCC0 12/1/2003 3 12/1/2006 4642542 CCCCCC0 11/28/2003 3 11/28/2006 4649425 CCCCCC0 11/28/2003 3 11/28/2006 4642504 CCCCCC0 11/26/2003 3 11/26/2006 4642758 CCCCCC0 11/26/2003 3 11/26/2006 4642720 CC36FF0 11/25/2003 3 11/25/2006 4642279 CCCCCC0 11/25/2003 3 11/25/2006 4645715 CCCCCC0 11/25/2003 3 11/25/2006 4642807 CCCCCC0 11/21/2003 3 11/21/2006 4643169 CCCCCC0 11/21/2003 3 11/21/2006 4645820 CCCCCC0 11/20/2003 3 11/20/2006 4647537 CCCCCC0 11/19/2003 3 11/19/2006 4645801 CCCCCC0 11/18/2003 3 11/18/2006 4642657 CCCCCC0 11/17/2003 3 11/17/2006 4642710 CCCCCC0 11/17/2003 3 11/17/2006 4643032 CCCCCC0 11/17/2003 3 11/17/2006 4647524 CCCCC30 11/12/2003 3 11/12/2006 4651907 CCCCCC0 11/10/2003 3 11/10/2006 4651908 CCCCCC0 11/10/2003 3 11/10/2006 4643076 CCCCCC0 11/7/2003 3 11/7/2006 4645711 CCCCCC0 11/5/2003 3 11/5/2006 4642650 CCCCC30 11/3/2003 3 11/3/2006 4642173 CCCCCC0 9/11/2003 3 9/11/2006 4644638 CCCCCC0 12/29/2003 3 10/29/2006 4644632 CCCCCC0 12/22/2003 3 10/22/2006 4642881 CCCCCC0 10/31/2003 3 4/30/2006 4642890 CCCCCC0 9/30/2003 3 3/30/2006 4651630 CCCCCC0 12/31/2003 2 12/31/2005 4650289 CCCCCC0 12/31/2003 2 12/31/2005 4649471 CCCCCC0 12/31/2003 2 12/31/2005 4649474 CCCCCC0 12/31/2003 2 12/31/2005 4645424 CCCCCC0 12/31/2003 2 12/31/2005 4646015 CCCCCC0 12/31/2003 2 12/31/2005 4646039 CCCCCC0 12/31/2003 2 12/31/2005 4646065 CCCCCC0 12/31/2003 2 12/31/2005 4646529 CCCCCC0 12/31/2003 2 12/31/2005 4870646 3CCC30 12/31/2003 2 12/31/2005 4647828 CCCCCC0 12/31/2003 2 12/31/2005 4650285 CCCCCC0 12/31/2003 2 12/31/2005 4650848 CCCCCC0 12/31/2003 2 12/31/2005 4651282 CCCCCC0 12/31/2003 2 12/31/2005 4651624 CCCCCC0 12/31/2003 2 12/31/2005 4651815 CCCCCC0 12/30/2003 2 12/30/2005 4651267 CCCCCC0 12/30/2003 2 12/30/2005 4648694 CCCCCC0 12/30/2003 2 12/30/2005 4651031 CCCCCC0 12/30/2003 2 12/30/2005 4648654 CCCCCC0 12/30/2003 2 12/30/2005 4649475 CCCCCC0 12/30/2003 2 12/30/2005 4650407 CCCCCC0 12/30/2003 2 12/30/2005 4650443 CCCCC30 12/30/2003 2 12/30/2005 4650943 CCCCCC0 12/30/2003 2 12/30/2005 4651279 CCCCCC0 12/30/2003 2 12/30/2005 4651375 CCCCC30 12/30/2003 2 12/30/2005 4644980 CCCCCC0 12/29/2003 2 12/29/2005 4647424 CCCCCC0 12/29/2003 2 12/29/2005 4648234 CCCC360 12/29/2003 2 12/29/2005 4649464 CCCCCC0 12/29/2003 2 12/29/2005 4651875 CCCCCC0 12/29/2003 2 12/29/2005 4647897 CCCCCC0 12/26/2003 2 12/26/2005 4651898 CCCCCC0 12/26/2003 2 12/26/2005 4644321 CCCCCC0 12/24/2003 2 12/24/2005 4649532 CCCCCC0 12/24/2003 2 12/24/2005 4650974 CCCCCC0 12/24/2003 2 12/24/2005 4650977 CCCCCC0 12/24/2003 2 12/24/2005 4649500 CCCCCC0 12/23/2003 2 12/23/2005 4646138 CCCCCC0 12/23/2003 2 12/23/2005 4647471 CCCCC30 12/23/2003 2 12/23/2005 4647576 CCCCCC0 12/23/2003 2 12/23/2005 4650915 CCCCCC0 12/23/2003 2 12/23/2005 4651512 CCCCCC0 12/23/2003 2 12/23/2005 4644327 CCCCCC0 12/22/2003 2 12/22/2005 4647583 CCCCCC0 12/22/2003 2 12/22/2005 4648096 CCCCCC0 12/22/2003 2 12/22/2005 4648833 CCCCCC0 12/22/2003 2 12/22/2005 4649382 CCCCCC0 12/22/2003 2 12/22/2005 4650181 CCCCCC0 12/22/2003 2 12/22/2005 4650339 CCCCCC0 12/22/2003 2 12/22/2005 4650897 CCCCC30 12/22/2003 2 12/22/2005 4651485 CCCCCC0 12/22/2003 2 12/22/2005 4651528 CCCCCC0 12/22/2003 2 12/22/2005 4650262 CCCCCC0 12/19/2003 2 12/19/2005 4643567 CCCCCC0 12/19/2003 2 12/19/2005 4649323 CCCCCC0 12/19/2003 2 12/19/2005 4644808 CC333C0 12/19/2003 2 12/19/2005 4648169 CCCCCC0 12/19/2003 2 12/19/2005 4648653 CCCCCC0 12/19/2003 2 12/19/2005 4644346 CCCCCC0 12/18/2003 2 12/18/2005 4643683 CCCCCC0 12/17/2003 2 12/17/2005 4646489 CCCCCC0 12/17/2003 2 12/17/2005 4646743 CCCCCC0 12/17/2003 2 12/17/2005 4647170 CCCCCC0 12/16/2003 2 12/16/2005 4647171 CCCCCC0 12/16/2003 2 12/16/2005 4648574 CCCCCC0 12/16/2003 2 12/16/2005 4649868 CCCCCC0 12/16/2003 2 12/16/2005 4643835 CCCCCC0 12/15/2003 2 12/15/2005 4650732 CCCCCC0 12/15/2003 2 12/15/2005 4643384 CCCCCC0 12/13/2003 2 12/13/2005 4644395 CCCC3C0 12/12/2003 2 12/12/2005 4646164 CCCCCC0 12/12/2003 2 12/12/2005 4646412 CCCCCC0 12/12/2003 2 12/12/2005 4647981 CCCCCC0 12/12/2003 2 12/12/2005 4647982 CCCCCC0 12/12/2003 2 12/12/2005 4651850 CCCCCC0 12/12/2003 2 12/12/2005 4651881 CCCCCC0 12/12/2003 2 12/12/2005 4652665 CCCCCC0 12/11/2003 2 12/11/2005 4648533 CCCCCC0 12/11/2003 2 12/11/2005 4651220 CCCCCC0 12/11/2003 2 12/11/2005 4643691 CCCCC30 12/10/2003 2 12/10/2005 4643842 CCCCCC0 12/10/2003 2 12/10/2005 4649920 CCCCCC0 12/10/2003 2 12/10/2005 4645619 CCCCCC0 12/10/2003 2 12/10/2005 4647419 CCCCCC0 12/10/2003 2 12/10/2005 4648043 CCCCCC0 12/9/2003 2 12/9/2005 4648047 CCCCCC0 12/9/2003 2 12/9/2005 4649167 CCCCCC0 12/9/2003 2 12/9/2005 4870573 CCCCC0 12/9/2003 2 12/9/2005 4649200 CCCCCC0 12/8/2003 2 12/8/2005 4650878 CCCCCC0 12/8/2003 2 12/8/2005 4646132 CCCCCC0 12/8/2003 2 12/8/2005 4646133 CCCCCC0 12/8/2003 2 12/8/2005 4647995 CCCCCC0 12/8/2003 2 12/8/2005 4648759 CCCCCC0 12/8/2003 2 12/8/2005 4649289 CCCCCC0 12/8/2003 2 12/8/2005 4650909 CCCCCC0 12/8/2003 2 12/8/2005 4648701 CCCCCC0 12/5/2003 2 12/5/2005 4650881 CCCCCC0 12/5/2003 2 12/5/2005 4649403 CCCCCC0 12/5/2003 2 12/5/2005 4644917 CCCCCC0 12/4/2003 2 12/4/2005 4646180 CCCCCC0 12/4/2003 2 12/4/2005 4648119 CCCCCC0 12/4/2003 2 12/4/2005 4649802 CCCCCC0 12/4/2003 2 12/4/2005 4650312 CCCCCC0 12/4/2003 2 12/4/2005 4650091 CCCCCC0 12/3/2003 2 12/3/2005 4650917 CCCCCC0 12/3/2003 2 12/3/2005 4651210 CCCCCC0 12/3/2003 2 12/3/2005 4651849 CCCCCC0 12/2/2003 2 12/2/2005 4648565 CCCCCC0 12/2/2003 2 12/2/2005 4646591 CCCCCC0 12/2/2003 2 12/2/2005 4646597 CCCCCC0 12/2/2003 2 12/2/2005 4649398 CCCCCC0 12/2/2003 2 12/2/2005 4643830 CCCCCC0 12/1/2003 2 12/1/2005 4645538 CCCCCC0 12/1/2003 2 12/1/2005 4647481 CCCCCC0 12/1/2003 2 12/1/2005 4648111 CCCCCC0 12/1/2003 2 12/1/2005 4650717 CCCCCC0 12/1/2003 2 12/1/2005 4642243 CCCCCC0 11/28/2003 2 11/28/2005 4650877 CCCCCC0 11/28/2003 2 11/28/2005 4645819 CCCCCC0 11/28/2003 2 11/28/2005 4648613 CCCCCC0 11/28/2003 2 11/28/2005 4643714 CCCCCC0 11/26/2003 2 11/26/2005 4645716 CCCCCC0 11/26/2003 2 11/26/2005 4647844 CC3CCC0 11/26/2003 2 11/26/2005 4649860 CCCCCC0 11/26/2003 2 11/26/2005 4645686 CCCCCC0 11/25/2003 2 11/25/2005 4645882 CCCCCC0 11/25/2003 2 11/25/2005 4644766 CCCCCC0 11/24/2003 2 11/24/2005 4644843 CCCCCC0 11/24/2003 2 11/24/2005 4653103 CCCCCC0 11/20/2003 2 11/20/2005 4653104 CCCCCC0 11/20/2003 2 11/20/2005 4643096 CCCCCC0 11/20/2003 2 11/20/2005 4644751 CCCCCC0 11/20/2003 2 11/20/2005 4644099 CCCCC60 11/20/2003 2 11/20/2005 4644041 CCCCCC0 11/19/2003 2 11/19/2005 4644101 CCCCCC0 11/19/2003 2 11/19/2005 4646738 CCCCCC0 11/17/2003 2 11/17/2005 4647523 CCCCC30 11/12/2003 2 11/12/2005 4652094 CCCCCC0 11/10/2003 2 11/10/2005 4644743 CCCCCC0 11/6/2003 2 11/6/2005 4644592 CCCCCC0 11/5/2003 2 11/5/2005 4642794 CCCCCC0 10/30/2003 2 10/30/2005 4646530 CCCCCC0 10/30/2003 2 10/30/2005 4642859 CCCCCC0 10/29/2003 2 10/29/2005 4645759 CCCCCC0 10/28/2003 2 10/28/2005 4645595 CCCCCC0 10/2/2003 2 10/2/2005 4645774 CCCCCC0 9/30/2003 2 9/30/2005 4645920 CCCCCC0 9/30/2003 2 9/30/2005 4644194 CCCCCC0 9/26/2003 2 9/26/2005 4645500 CCCCCC0 9/26/2003 2 9/26/2005 4645785 CCCCCC0 9/23/2003 2 9/23/2005 4645797 CCCCCC0 9/19/2003 2 9/19/2005 4642116 CCCCCC0 9/3/2003 2 9/3/2005 4642115 CCCCCC0 9/3/2003 2 9/3/2005 4642075 CCCCCC0 8/25/2003 2 8/25/2005 4642074 CCCCCC0 8/25/2003 2 8/25/2005 4642103 CCCCCC0 8/25/2003 2 8/25/2005 4642128 CCCCCC0 8/22/2003 2 8/22/2005 4642139 CCCCCC0 8/21/2003 2 8/21/2005 4642121 CCCCCC0 8/21/2003 2 8/21/2005 4642138 CCCCCC0 8/21/2003 2 8/21/2005 4646722 CCCCCC0 12/31/2003 1 12/31/2004 4646326 CCCCCC0 12/29/2003 1 12/29/2004 4649613 CCCCCC0 12/26/2003 1 12/26/2004 4648228 CCCCCC0 12/24/2003 1 12/24/2004 4647073 CCCCCC0 12/23/2003 1 12/23/2004 4646930 CCCCCC0 12/18/2003 1 12/18/2004 4647337 CCCCCC0 12/18/2003 1 12/18/2004 4646151 CCCCCC0 12/16/2003 1 12/16/2004 4650418 CCCCCC0 12/8/2003 1 12/8/2004 4648464 CCCCCC0 11/17/2003 .25 2/17/2004 Paid-Off Loans With Prepayment Flags for SAIL 2004-3 Mortgage Data Through: September 30, 2004 (CONT.) No % of Premium Premium PPP Loan Number Payoff PPP Remitted to Payoff Collected, Collected, Comments Balance Balance w/ Flag No Flag 4652856 $ 34,340 $ - 0% 4652856 Awaiting response from servicer 4651693 $ 61,368 $ - 0% 4651693 Awaiting response from servicer 4652154 $ 123,304 $ - 0% 4652154 Awaiting response from servicer 4646978 $ 235,995 $ - 0% 4646978 Awaiting response from servicer 4647039 $ 199,895 $ - 0% 4647039 Awaiting response from servicer 4647518 $ 151,243 $ - 0% 4647518 Awaiting response from servicer 4646413 $ 81,848 $ - 0% 4646413 Awaiting response from servicer 4650193 $ 138,158 $ - 0% 4650193 Awaiting response from servicer 4645058 $ 195,578 $ - 0% 4645058 Did not collect because of an IL state statute 4870793 $ 204,500 $ - 0% Liquidated out of foreclosure 4648971 $ 115,966 $ - 0% Liquidated out of foreclosure 4870647 $ 97,330 $ - 0% Liquidated out of foreclosure 4870402 $ 214,696 $ - 0% Liquidated out of foreclosure 4870563 $ 207,853 $ - 0% Liquidated through loss mitigation 4642305 $ 33,291 $ 1,194 4% 4642743 $ 62,096 $ 621 1% 4652420 $ 163,796 $ 4,685 3% 4652120 $ 73,648 $ 2,791 4% 4648230 $ 270,818 $ 8,332 3% 4651502 $ 199,336 $ 6,563 3% 4649345 $ 186,572 $ 4,698 3% 4651743 $ 107,542 $ 3,695 3% 4645986 $ 41,299 $ 611 1% 4646581 $ 164,207 $ 5,242 3% 4647953 $ 78,045 $ 2,339 3% 4649346 $ 46,530 $ 1,809 4% 4651181 $ 382,899 $ 8,043 2% 4651479 $ 281,246 $ 7,447 3% 4651189 $ 190,719 $ 6,853 4% 4651032 $ 33,394 $ 1,365 4% 4652317 $ 191,374 $ 5,384 3% 4651194 $ 357,571 $ 8,913 2% 4870586 $ 69,963 $ 2,654 4% 4651495 $ 159,080 $ 4,507 3% 4651906 $ 288,058 $ 7,881 3% 4649842 $ 118,929 $ 3,562 3% 4644654 $ 67,540 $ 2,632 4% 4649843 $ 29,579 $ 1,149 4% 4649518 $ 246,606 $ 7,442 3% 4650283 $ 326,099 $ 10,096 3% 4644498 $ 335,757 $ 8,713 3% 4644453 $ 131,165 $ 3,621 3% 4644504 $ 86,621 $ 2,933 3% 4650250 $ 47,890 $ 862 2% 4652505 $ 133,698 $ 3,720 3% 4649774 $ 31,580 $ 1,355 4% 4649930 $ 178,694 $ 4,492 3% 4644526 $ 333,747 $ 9,316 3% 4644535 $ 234,382 $ 6,434 3% 4651723 $ 148,370 $ 4,921 3% 4649573 $ 129,040 $ 3,344 3% 4649242 $ 116,889 $ 1,169 1% 4649658 $ 163,839 $ 4,409 3% 4646161 $ 350,413 $ 8,402 2% 4651880 $ 389,367 $ 12,291 3% 4650927 $ 190,286 $ 5,283 3% 4643307 $ 117,995 $ 2,812 2% 4652173 $ 65,996 $ 3,719 6% 4651176 $ 168,834 $ 4,635 3% 4647805 $ 152,858 $ 4,126 3% 4643478 $ 177,724 $ 5,468 3% 4643907 $ 66,166 $ 2,684 4% 4650397 $ 312,935 $ 7,988 3% 4650504 $ 110,045 $ 3,848 3% 4643737 $ 237,448 $ 5,457 2% 4649606 $ 204,300 $ 4,985 2% 4646935 $ 215,747 $ 6,678 3% 4648052 $ 223,943 $ 7,235 3% 4648139 $ 238,925 $ 7,207 3% 4651664 $ 31,425 $ 630 2% 4647274 $ 94,741 $ 3,024 3% 4647917 $ 273,371 $ 7,093 3% 4650350 $ 362,533 $ 10,061 3% 4645899 $ 144,612 $ 4,013 3% 4646360 $ 164,465 $ 4,935 3% 4647121 $ 134,457 $ 4,297 3% 4649404 $ 58,418 $ 2,503 4% 4649417 $ 208,583 $ 5,206 2% 4648543 $ 219,562 $ 5,835 3% 4651118 $ 249,225 $ 7,455 3% 4651272 $ 245,127 $ 7,089 3% 4649135 $ 124,876 $ 1,249 1% 4648593 $ 139,564 $ 4,405 3% 4647643 $ 149,442 $ 4,018 3% 4650715 $ 318,703 $ 12,078 4% 4642542 $ 265,972 $ 7,422 3% 4649425 $ 277,666 $ 6,484 2% 4642504 $ 198,756 $ 5,854 3% 4642758 $ 141,445 $ 3,948 3% 4642720 $ 327,148 $ 8,827 3% 4642279 $ 198,628 $ 1,647 1% 4645715 $ 125,697 $ 4,369 3% 4642807 $ 238,231 $ 6,790 3% 4643169 $ 108,288 $ 1,013 1% 4645820 $ 185,638 $ 5,562 3% 4647537 $ 107,453 $ 3,015 3% 4645801 $ 114,199 $ 3,645 3% 4642657 $ 240,774 $ 6,721 3% 4642710 $ 116,190 $ 2,324 2% 4643032 $ 107,400 $ 3,675 3% 4647524 $ 44,907 $ 2,020 4% 4651907 $ 491,722 $ 11,776 2% 4651908 $ 60,654 $ 2,171 4% 4643076 $ 218,118 $ 5,540 3% 4645711 $ 162,000 $ 4,212 3% 4642650 $ 334,946 $ 16,747 5% 4642173 $ 158,842 $ 4,928 3% 4644638 $ 270,035 $ 7,051 3% 4644632 $ 132,957 $ 3,850 3% 4642881 $ 406,904 $ 11,393 3% 4642890 $ 146,903 $ 4,025 3% 4651630 $ 241,677 $ 6,323 3% 4650289 $ 188,888 $ 4,906 3% 4649471 $ 169,237 $ 4,843 3% 4649474 $ 2,847 $ 6,800 239% 4645424 $ 84,448 $ 3,396 4% 4646015 $ 174,233 $ 4,576 3% 4646039 $ 43,488 $ 2,640 6% 4646065 $ 43,037 $ 1,847 4% 4646529 $ 50,100 $ 2,000 4% 4870646 $ 183,124 $ 5,848 3% 4647828 $ 177,456 $ 4,954 3% 4650285 $ 270,000 $ 7,614 3% 4650848 $ 164,450 $ 4,006 2% 4651282 $ 380,437 $ 10,030 3% 4651624 $ 133,702 $ 4,055 3% 4651815 $ 278,446 $ 8,006 3% 4651267 $ 200,549 $ 5,527 3% 4648694 $ 166,269 $ 5,614 3% 4651031 $ 134,276 $ 3,700 3% 4648654 $ 211,482 $ 6,759 3% 4649475 $ 318,618 $ 9,227 3% 4650407 $ 193,859 $ 5,412 3% 4650443 $ 341,050 $ 12,256 4% 4650943 $ 240,890 $ 6,928 3% 4651279 $ 378,000 $ 10,357 3% 4651375 $ 310,499 $ 9,191 3% 4644980 $ 288,184 $ 8,448 3% 4647424 $ 421,800 $ 12,806 3% 4648234 $ 223,252 $ 6,201 3% 4649464 $ 442,981 $ 13,289 3% 4651875 $ 90,579 $ 3,439 4% 4647897 $ 112,000 $ 3,782 3% 4651898 $ 317,144 $ 9,810 3% 4644321 $ 98,381 $ 2,799 3% 4649532 $ 288,856 $ 8,546 3% 4650974 $ 365,859 $ 12,206 3% 4650977 $ 297,468 $ 8,198 3% 4649500 $ 105,715 $ 3,273 3% 4646138 $ 274,385 $ 7,652 3% 4647471 $ 138,429 $ 4,150 3% 4647576 $ 223,734 $ 6,486 3% 4650915 $ 265,745 $ 7,103 3% 4651512 $ 179,230 $ 5,617 3% 4644327 $ 107,408 $ 2,148 2% 4647583 $ 126,472 $ 4,448 4% 4648096 $ 272,881 $ 7,575 3% 4648833 $ 160,429 $ 3,908 2% 4649382 $ 399,231 $ 10,276 3% 4650181 $ 149,089 $ 5,303 4% 4650339 $ 292,936 $ 7,431 3% 4650897 $ 90,512 $ 2,678 3% 4651485 $ 393,449 $ 12,969 3% 4651528 $ 285,581 $ 7,643 3% 4650262 $ 273,378 $ 6,221 2% 4643567 $ 257,781 $ 5,145 2% 4649323 $ 245,989 $ 7,864 3% 4644808 $ 2,074 $ 7,456 359% 4648169 $ 160,530 $ 4,813 3% 4648653 $ 136,911 $ 3,879 3% 4644346 $ 919 $ 3,756 409% 4643683 $ 67,199 $ 675 1% 4646489 $ 33,594 $ 1,506 4% 4646743 $ 27,283 $ 1,200 4% 4647170 $ 228,370 $ 6,157 3% 4647171 $ 57,299 $ 2,497 4% 4648574 $ 549,116 $ 14,287 3% 4649868 $ 205,584 $ 5,208 3% 4643835 $ 129,953 $ 4,149 3% 4650732 $ 377,602 $ 12,827 3% 4643384 $ 118,539 $ 4,947 4% 4644395 $ 197,127 $ 6,010 3% 4646164 $ 130,669 $ 4,386 3% 4646412 $ 327,480 $ 8,501 3% 4647981 $ 196,876 $ 5,496 3% 4647982 $ 49,368 $ 2,171 4% 4651850 $ 232,046 $ 6,953 3% 4651881 $ 201,247 $ 5,385 3% 4652665 $ 183,159 $ 5,452 3% 4648533 $ 296,946 $ 8,180 3% 4651220 $ 215,762 $ 7,112 3% 4643691 $ 252,274 $ 6,231 2% 4643842 $ 196,926 $ 5,801 3% 4649920 $ 141,668 $ 4,329 3% 4645619 $ 264,350 $ 10,244 4% 4647419 $ 131,428 $ 1,314 1% 4648043 $ 151,155 $ 4,377 3% 4648047 $ 178,198 $ 5,512 3% 4649167 $ 456,294 $ 4,563 1% 4870573 $ 283,500 $ 7,598 3% 4649200 $ 134,266 $ 1,343 1% 4650878 $ 133,730 $ 2,675 2% 4646132 $ 69,640 $ 2,126 3% 4646133 $ 25,917 $ 1,034 4% 4647995 $ 223,988 $ 8,046 4% 4648759 $ 207,270 $ 5,995 3% 4649289 $ 326,318 $ 8,142 2% 4650909 $ 243,065 $ 5,813 2% 4648701 $ 172,096 $ 5,672 3% 4650881 $ 135,144 $ 2,703 2% 4649403 $ 234,252 $ 6,079 3% 4644917 $ 149,350 $ 4,481 3% 4646180 $ 184,726 $ 6,273 3% 4648119 $ 217,791 $ 6,830 3% 4649802 $ 155,674 $ 5,500 4% 4650312 $ 175,533 $ 4,100 2% 4650091 $ 75,501 $ 709 1% 4650917 $ 178,760 $ 4,890 3% 4651210 $ 469,547 $ 13,783 3% 4651849 $ 434,069 $ 12,116 3% 4648565 $ 256,441 $ 6,501 3% 4646591 $ 385,108 $ 13,234 3% 4646597 $ 316,792 $ 3,325 1% 4649398 $ 313,266 $ 9,998 3% 4643830 $ 278,993 $ 6,628 2% 4645538 $ 380,000 $ 10,625 3% 4647481 $ 170,636 $ 5,283 3% 4648111 $ 234,654 $ 6,143 3% 4650717 $ 95,084 $ 2,981 3% 4642243 $ 239,131 $ 8,959 4% 4650877 $ 129,935 $ 2,599 2% 4645819 $ 326,000 $ 12,062 4% 4648613 $ 166,289 $ 4,382 3% 4643714 $ 167,349 $ 5,369 3% 4645716 $ 370,000 $ 9,768 3% 4647844 $ 231,089 $ 6,922 3% 4649860 $ 154,147 $ 4,920 3% 4645686 $ 372,534 $ 11,312 3% 4645882 $ 600,000 $ 14,700 2% 4644766 $ 181,087 $ 5,621 3% 4644843 $ 67,750 $ 2,032 3% 4653103 $ 184,037 $ 5,613 3% 4653104 $ 46,163 $ 2,028 4% 4643096 $ 258,498 $ 8,013 3% 4644751 $ 151,179 $ 5,248 3% 4644099 $ 132,631 $ 3,946 3% 4644041 $ 160,908 $ 5,301 3% 4644101 $ 118,180 $ 3,233 3% 4646738 $ 258,656 $ 8,260 3% 4647523 $ 179,186 $ 5,369 3% 4652094 $ 51,761 $ 1,835 4% 4644743 $ 183,759 $ 5,129 3% 4644592 $ 253,177 $ 6,822 3% 4642794 $ 395,250 $ 10,593 3% 4646530 $ 68,840 $ 3,024 4% 4642859 $ 1,148 $ 6,458 563% 4645759 $ 285,000 $ 7,969 3% 4645595 $ 205,402 $ 5,382 3% 4645774 $ 107,814 $ 3,013 3% 4645920 $ 182,581 $ 5,425 3% 4644194 $ 321,262 $ 8,963 3% 4645500 $ 387,997 $ 9,272 2% 4645785 $ 300,975 $ 7,146 2% 4645797 $ 179,605 $ 5,022 3% 4642116 $ 41,107 $ 1,862 5% 4642115 $ 218,277 $ 6,416 3% 4642075 $ 37,786 $ 1,500 4% 4642074 $ 150,330 $ 3,952 3% 4642103 $ 284,241 $ 8,533 3% 4642128 $ 116,231 $ 4,514 4% 4642139 $ 52,706 $ 2,200 4% 4642121 $ 136,791 $ 4,760 3% 4642138 $ 214,268 $ 6,201 3% 4646722 $ 481,242 $ 13,696 3% 4646326 $ 170,990 $ 4,774 3% 4649613 $ 409,148 $ 11,442 3% 4648228 $ 228,321 $ 7,392 3% 4647073 $ 89,548 $ 2,501 3% 4646930 $ 96,709 $ 4,059 4% 4647337 $ 186,053 $ 5,010 3% 4646151 $ 380,262 $ 10,616 3% 4650418 $ 80,496 $ 1,881 2% 4648464 $ 119,149 $ 3,187 3% c 2004 The Murrayhill Company. All Rights Reserved. Section Three Mortgage Insurance Analysis SAIL 2004-3 Mortgage Insurance Claims Mortgage Data Through: September 30, 2004 First Pmt. Current Valuation OAV Orig Amount Loan Number Last Paid Dt. Method CV Current Bal 4642937 12/1/2003 List Price - $64,000 $60,800 09/21/2004 Initial 3/1/2004 $39,900 $60,626 4644886 1/1/2004 Sale Price - $104,000 $98,800 10/15/2004 Initial 2/1/2004 $102,000 $98,658 4649004 2/1/2004 Appraisal - 06/16/2004$60,000 $54,000 Initial 3/1/2004 $61,000 $53,900 SAIL 2004-3 Mortgage Insurance Claims Mortgage Data Through: September 30, 2004 (CONT.) OLTV MI Cert # Claim File Dt Date Paid Deliquency History CLTV MI Cov % Est Claim Pmt Amount Paid Settlement Option 95.00% 65690168 9/20/2004 CC36FFR 151.94% 37.00% $23,858 95.00% 65690823 8/3/2004 C36FRRR 96.72% 37.00% $38,665 90.00% 21147912 9/17/2004 CC36FFR 88.36% 34.00% $19,300 c 2004 The Murrayhill Company. All Rights Reserved. Section Four Loss Analysis SAIL 2004-3 Historical Monthly Losses Losses Through: September 30, 2004 Loan Date Loss Amount Loss Percentage 10/25/2004 $130.00 0.00% 9/25/2004 $0.00 0.00% 8/25/2004 $0.00 0.00% 7/25/2004 $0.00 0.00% 6/25/2004 $0.00 0.00% 5/25/2004 $3,015.66 0.00% 4/25/2004 $0.00 0.00% Totals: $3,145.66 0.00% *The loss percentage a calculation of the total monthly loss as a percentage of the original balance of the security. SAIL 2004-3 Loss Reconciliation Report Trustee Remittance Date: October 25, 2004 Remittance Statement 10/25/2004 Summary $130 Loan-Level Losses: $0 Subsequent Losses: $130 Subsequent Gains: $0 Monthly Security Loss: $130 Losses Remitted: $130 Difference: $0 Subsequent Losses Loan Number Loss 4646125 $130 Subsequent Losses Total: $130 SAIL 2004-3 Loss Report Losses Through: September 30, 2004 May 25, 2004 Loan Number 4646125 State CA Origination Date 12/29/2003 Original LTV 18% Original Amount $113,000 Original Appraisal $637,000 Loss $3,145.66 Loss Severity 2.78% ============================================== Loss Loss Severity Monthly Total: $3,145.66 2.78% Overall Total: $3,145.66 2.78% c 2004 The Murrayhill Company. All Rights Reserved. Section Five Analytics SAIL 2004-3 FICO Distribution by Status Mortgage Data Through: September 30, 2004 FICO Delinquency Percentage 480 Current 0 490 Current 0 500 Current 0.01 500 Delinquent 0.023 500 Paid Off 0.011 510 Current 0.022 510 Delinquent 0.046 510 Paid Off 0.03 520 Current 0.025 520 Delinquent 0.063 520 Paid Off 0.035 530 Current 0.037 530 Delinquent 0.069 530 Paid Off 0.04 540 Current 0.035 540 Delinquent 0.071 540 Paid Off 0.044 550 Current 0.037 550 Delinquent 0.048 550 Paid Off 0.037 560 Current 0.039 560 Delinquent 0.061 560 Paid Off 0.041 570 Current 0.036 570 Delinquent 0.045 570 Paid Off 0.045 580 Current 0.038 580 Delinquent 0.036 580 Paid Off 0.048 590 Current 0.04 590 Delinquent 0.043 590 Paid Off 0.049 600 Current 0.051 600 Delinquent 0.056 600 Paid Off 0.044 610 Current 0.055 610 Delinquent 0.058 610 Paid Off 0.053 620 Current 0.062 620 Delinquent 0.051 620 Paid Off 0.066 630 Current 0.065 630 Delinquent 0.069 630 Paid Off 0.062 640 Current 0.061 640 Delinquent 0.041 640 Paid Off 0.058 650 Current 0.061 650 Delinquent 0.043 650 Paid Off 0.062 660 Current 0.053 660 Delinquent 0.038 660 Paid Off 0.055 670 Current 0.053 670 Delinquent 0.03 670 Paid Off 0.034 680 Current 0.042 680 Delinquent 0.041 680 Paid Off 0.033 690 Current 0.036 690 Delinquent 0.015 690 Paid Off 0.028 700 Current 0.03 700 Delinquent 0.01 700 Paid Off 0.031 710 Current 0.021 710 Delinquent 0.012 710 Paid Off 0.018 720 Current 0.019 720 Delinquent 0.008 720 Paid Off 0.015 730 Current 0.017 730 Delinquent 0.005 730 Paid Off 0.01 740 Current 0.011 740 Delinquent 0.003 740 Paid Off 0.011 750 Current 0.013 750 Delinquent 0.003 750 Paid Off 0.013 760 Current 0.01 760 Delinquent 0.002 760 Paid Off 0.006 770 Current 0.009 770 Delinquent 0.002 770 Paid Off 0.007 780 Current 0.005 780 Delinquent 0.002 780 Paid Off 0.005 790 Current 0.004 790 Delinquent 0.002 790 Paid Off 0.003 800 Current 0.002 800 Delinquent 0.003 800 Paid Off 0.001 810 Current 0 810 Paid Off 0.001 # of Std. Status Loans Average Deviation Current 9,181 625 66.387 Delinquent 606 593 65.387 Paid Off 1,761 616 64.187 Total: 11,548 SAIL 2004-3 Loan-to-Value Distribution by Status Mortgage Data Through: September 30, 2004 LTV Delinquency Percentage 0.1 Paid Off 0.007 0.1 Current 0.006 0.1 Delinquent 0.01 0.2 Current 0.067 0.2 Delinquent 0.076 0.2 Paid Off 0.07 0.3 Delinquent 0.003 0.3 Paid Off 0.007 0.3 Current 0.008 0.4 Paid Off 0.015 0.4 Delinquent 0.005 0.4 Current 0.014 0.5 Delinquent 0.007 0.5 Current 0.028 0.5 Paid Off 0.027 0.6 Current 0.056 0.6 Paid Off 0.044 0.6 Delinquent 0.031 0.7 Paid Off 0.127 0.7 Current 0.118 0.7 Delinquent 0.109 0.8 Paid Off 0.36 0.8 Delinquent 0.37 0.8 Current 0.366 0.9 Paid Off 0.274 0.9 Delinquent 0.312 0.9 Current 0.247 1 Delinquent 0.078 1 Paid Off 0.069 1 Current 0.089 # of Std. Status Loans Average Deviation Current 9,181 0.748 0.2 Delinquent 606 0.76 0.198 Paid Off 1,761 0.746 0.2 Total: 11,548 SAIL 2004-3 Balance Distribution by Status Mortgage Data Through: September 30, 2004 Balance Delinquency Percentage 0 Current 0 0 Delinquent 0.002 10000 Current 0.002 20000 Current 0.011 20000 Delinquent 0.007 30000 Current 0.024 30000 Delinquent 0.031 40000 Current 0.028 40000 Delinquent 0.038 50000 Current 0.042 50000 Delinquent 0.054 60000 Current 0.047 60000 Delinquent 0.063 70000 Current 0.05 70000 Delinquent 0.054 80000 Current 0.05 80000 Delinquent 0.061 90000 Current 0.045 90000 Delinquent 0.051 100000 Current 0.049 100000 Delinquent 0.045 110000 Current 0.043 110000 Delinquent 0.048 120000 Current 0.047 120000 Delinquent 0.031 130000 Current 0.047 130000 Delinquent 0.031 140000 Current 0.04 140000 Delinquent 0.031 150000 Current 0.038 150000 Delinquent 0.03 160000 Current 0.039 160000 Delinquent 0.038 170000 Current 0.034 170000 Delinquent 0.03 180000 Current 0.032 180000 Delinquent 0.021 190000 Current 0.027 190000 Delinquent 0.028 200000 Current 0.025 200000 Delinquent 0.021 210000 Current 0.024 210000 Delinquent 0.023 220000 Current 0.024 220000 Delinquent 0.035 230000 Current 0.02 230000 Delinquent 0.017 240000 Current 0.02 240000 Delinquent 0.012 250000 Current 0.017 250000 Delinquent 0.017 260000 Current 0.017 260000 Delinquent 0.012 270000 Current 0.014 270000 Delinquent 0.015 280000 Current 0.011 280000 Delinquent 0.012 290000 Current 0.013 290000 Delinquent 0.005 300000 Current 0.011 300000 Delinquent 0.013 310000 Current 0.01 310000 Delinquent 0.005 320000 Current 0.011 320000 Delinquent 0.017 330000 Current 0.006 330000 Delinquent 0.008 340000 Current 0.007 340000 Delinquent 0.012 350000 Current 0.007 350000 Delinquent 0.005 360000 Current 0.007 360000 Delinquent 0.007 370000 Current 0.004 370000 Delinquent 0.01 380000 Current 0.006 380000 Delinquent 0.003 390000 Current 0.003 390000 Delinquent 0.002 400000 Current 0.006 400000 Delinquent 0.012 410000 Current 0.002 410000 Delinquent 0.007 420000 Current 0.003 430000 Current 0.003 430000 Delinquent 0.002 440000 Current 0.003 440000 Delinquent 0.005 450000 Current 0.003 450000 Delinquent 0.008 460000 Current 0.003 460000 Delinquent 0.005 470000 Current 0.002 480000 Current 0.003 480000 Delinquent 0.007 490000 Current 0.002 490000 Delinquent 0.002 500000 Current 0.003 500000 Delinquent 0.002 510000 Current 0.001 510000 Delinquent 0.003 520000 Current 0.002 530000 Current 0 540000 Current 0 550000 Current 0.001 550000 Delinquent 0.003 560000 Current 0.001 560000 Delinquent 0.002 570000 Current 0.001 580000 Current 0 590000 Current 0.001 600000 Current 0 610000 Current 0 620000 Current 0 630000 Current 0 640000 Current 0.001 650000 Current 0.001 660000 Current 0 670000 Current 0 690000 Current 0 690000 Delinquent 0.002 700000 Current 0.001 710000 Current 0 720000 Current 0 740000 Current 0 750000 Current 0 790000 Current 0 810000 Current 0 830000 Current 0 870000 Current 0 890000 Current 0 900000 Current 0 910000 Current 0 920000 Current 0 960000 Current 0 980000 Current 0 1080000 Current 0 1450000 Current 0 1460000 Current 0 1670000 Current 0 # of Std. Status Loans Average Deviation Current 9,181 165,748.06 115,404.55 Delinquent 606 161,811.14 113,899.49 Total: 9,787 SAIL 2004-3 Mortgage Type Distribution by Status Mortgage Data Through: September 30, 2004 Mortgage Type Delinquency Percentage Investment Home Current 0.107 Investment Home Delinquent 0.116 Investment Home Paid Off 0.102 Primary Home Current 0.881 Primary Home Delinquent 0.883 Primary Home Paid Off 0.89 Second Home Current 0.012 Second Home Delinquent 0.002 Second Home Paid Off 0.007 Mortgage Loan Total Avg. Std. Type Count Balance Balance Deviation ARM 7,444 1,088,284,013.28 146,196.13 114,979.06 Fixed 4,104 531,652,734.92 129,545.01 132,330.08 Total: 11,548 1,619,936,748.20 SAIL 2004-3 Mortgage Term Distribution by Status Mortgage Data Through: September 30, 2004 Mortgage Term Delinquency Percentage 120 Current 0.002 180 Current 0.037 180 Paid Off 0.032 180 Delinquent 0.007 240 Delinquent 0.018 240 Paid Off 0.028 240 Current 0.025 300 Current 0 300 Paid Off 0.001 360 Paid Off 0.939 360 Current 0.936 360 Delinquent 0.975 # of Loans Other 120 180 240 300 360 11,548 0 14 400 295 5 10,834 SAIL 2004-3 Mortgage Purpose Distribution Mortgage Data Through: September 30, 2004 Origination Statistics Number of Loans: 13,000 Purpose Number Percentage Cash-out refinance 6,628 51.0% Purchase 4,852 37.3% Rate/term 1,494 11.5% Home 24 0.2% Other 2 0.0% Total 13,000 100% Current Loans Number of Loans: 9,181 Purpose Number Percentage Cash-out refinance 4,759 51.8% Purchase 3,360 36.6% Rate/term 1,042 11.3% Home 18 0.2% Other 2 0.0% Total 9,181 100% Delinquent Loans Number of Loans: 606 Purpose Number Percentage Cash-out refinance 250 41.3% Purchase 272 44.9% Rate/term 82 13.5% Home 2 0.1% Other 0 0.0% Total 606 100% Paid Off Loans Number of Loans: 1,761 Purpose Number Percentage Cash-out refinance 979 55.6% Purchase 576 32.7% Rate/term 204 11.6% Home 2 0.1% Other 0 0.0% Total 1,761 100% SAIL 2004-3 Ownership Distribution by Status Mortgage Data Through: September 30, 2004 Ownership Type Delinquency Percentage Investment Home Current 0.107 Investment Home Delinquent 0.116 Investment Home Paid Off 0.102 Primary Home Current 0.881 Primary Home Delinquent 0.883 Primary Home Paid Off 0.89 Second Home Current 0.012 Second Home Delinquent 0.002 Second Home Paid Off 0.007 Title # of Loans Investment Home 1,233 Primary Home 10,195 Second Home 120 Total: 11,548 SAIL 2004-3 Delinquent Count Over Time Mortgage Data Through: September 30, 2004 30 60 90 AsOfDate Days Days Days 3/31/2004 29 2 10 4/30/2004 173 23 10 5/31/2004 174 81 19 6/30/2004 183 80 60 7/31/2004 218 76 47 8/31/2004 225 96 54 9/30/2004 237 112 62 AsOfDate Foreclosure REO 3/31/2004 0 0 4/30/2004 5 0 5/31/2004 10 0 6/30/2004 29 0 7/31/2004 99 2 8/31/2004 137 4 9/30/2004 187 8 SAIL 2004-3 Delinquent Balance Over Time Mortgage Data Through: September 30, 2004 Total Balance in Status 30 60 90 AsOfDate Days Days Days 3/31/2004 $4,733,627 $420,433 $1,457,901 4/30/2004 $28,008,220 $4,200,418 $1,681,656 5/31/2004 $26,840,748 $13,864,258 $3,878,374 6/30/2004 $30,217,665 $12,605,206 $10,503,761 7/31/2004 $37,187,025 $12,810,720 $7,936,789 8/31/2004 $35,719,302 $15,827,745 $8,250,544 9/30/2004 $39,445,674 $17,080,193 $8,018,008 AsOfDate Foreclosure REO 3/31/2004 - - 4/30/2004 $894,846 - 5/31/2004 $1,336,625 - 6/30/2004 $4,707,482 - 7/31/2004 $15,638,559 $149,036 8/31/2004 $23,227,732 $292,909 9/30/2004 $32,908,320 $605,355 SAIL 2004-3 Conditional Prepayment Rates Mortgage Data Through: September 30, 2004 Distribution 3-Month 6-Month 12-Month Date * Date CPR MA MA MA 30-Sep-04 25-Oct-04 40.39% 36.16% 33.75% 31-Aug-04 25-Sep-04 34.71% 39.76% 31-Jul-04 25-Aug-04 33.15% 35.01% 30-Jun-04 25-Jul-04 49.92% 31.24% 31-May-04 25-Jun-04 18.00% 30-Apr-04 25-May-04 20.85% 31-Mar-04 25-Apr-04 8.97% * Data in table is displayed for only the most recent 18 months. SAIL 2004-3 Historical SDA Performance Mortgage Data Through: September 30, 2004 Weighted Monthly Average Default Default CDR SDA SDA Date Age Amt Rate (F-R) Curve % 30-Sep-04 8.12 $166,413 0.00% 0.00% 0.16% 0% 31-Aug-04 7.27 $143,873 0.00% 0.00% 0.15% 0% 31-Jul-04 6.42 $149,036 0.00% 0.00% 0.13% 0% 30-Jun-04 23.18 $0 0.00% 0.00% 0.46% 0% 31-May-04 4.68 $0 0.00% 0.00% 0.09% 0% 30-Apr-04 3.81 $0 0.00% 0.00% 0.08% 0% 31-Mar-04 2.84 $0 0.00% 0.00% 0.06% 0% Averages: 8.05 $65,617 0.00% 0.00% 0.16% 0% c 2004 The Murrayhill Company. All Rights Reserved.
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