-----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, SwYupouPryTQRwzYLmUPAx1MbHLvHeT3YNfsN4+nFPdBvuA3L4hlmrUSb+s1Zmpj ylIQLSBcFM5aEQmKjQ6VpA== 0001056404-04-004582.txt : 20041230 0001056404-04-004582.hdr.sgml : 20041230 20041230093841 ACCESSION NUMBER: 0001056404-04-004582 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041227 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041230 DATE AS OF CHANGE: 20041230 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STRUCTURED ASSET INVESTMENT LOAN TRUST 2004-4 CENTRAL INDEX KEY: 0001289293 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: 333-106925-33 FILM NUMBER: 041232544 BUSINESS ADDRESS: STREET 1: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 BUSINESS PHONE: 2125267000 MAIL ADDRESS: STREET 1: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 8-K 1 sai04004_dec.txt DECEMBER 8-K 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, 2004 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106925-33 54-2151972 Pooling and Servicing Agreement) (Commission 54-2152448 (State or other File Number) 54-2152449 jurisdiction 54-2152450 of Incorporation) 54-2152451 IRS EIN c/o Wells Fargo Bank, N.A., 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On December 27, 2004 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2004-4 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 2004-4 Trust, relating to the December 27, 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 2004-4 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: 12/27/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-4 Trust, relating to the December 27, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report EX-99.1
Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 11/30/2004 Distribution Date: 12/27/2004 Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Series 2004-4 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 86358EHL3 SEN 2.42000% 490,029,793.83 1,021,167.64 27,931,791.02 A2 86358EHM1 SEN 2.42000% 480,046,859.40 1,000,364.31 25,064,492.61 A3 86358EHN9 SEN 2.38000% 265,338,411.11 543,796.33 12,474,111.86 A-SIO 86358EHP4 IO 0.00000% 0.00 0.00 0.00 A4 86358EHQ2 SEN 2.58000% 43,958,000.00 97,660.02 0.00 M1 86358EHR0 MEZ 2.71000% 57,695,000.00 134,637.69 0.00 M2 86358EHS8 MEZ 2.78000% 27,474,000.00 65,769.70 0.00 M3 86358EHT6 MEZ 3.13000% 27,474,000.00 74,050.06 0.00 M4 86358EHU3 MEZ 3.41000% 27,474,000.00 80,674.35 0.00 M5 86358EHV1 MEZ 3.63000% 22,895,000.00 71,565.95 0.00 M6 86358EHW9 MEZ 3.93000% 23,810,000.00 80,577.01 0.00 M7 86358EHX7 MEZ 4.13000% 22,895,000.00 81,423.52 0.00 M8 86358EHY5 MEZ 4.68000% 13,737,000.00 55,360.11 0.00 B 86358EHZ2 SUB 5.00000% 9,158,000.00 38,158.33 0.00 X SAI04004X RES 0.00000% 7,324,566.00 6,505,594.29 0.00 P SAI04004P SEN 0.00000% 100.00 1,108,506.84 0.00 R SAI0404R1 RES 0.00000% 0.00 0.00 0.00 Totals 1,519,309,730.34 10,959,306.15 65,470,395.49
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 462,098,002.81 28,952,958.66 0.00 A2 0.00 454,982,366.79 26,064,856.92 0.00 A3 0.00 252,864,299.25 13,017,908.19 0.00 A-SIO 0.00 0.00 0.00 0.00 A4 0.00 43,958,000.00 97,660.02 0.00 M1 0.00 57,695,000.00 134,637.69 0.00 M2 0.00 27,474,000.00 65,769.70 0.00 M3 0.00 27,474,000.00 74,050.06 0.00 M4 0.00 27,474,000.00 80,674.35 0.00 M5 0.00 22,895,000.00 71,565.95 0.00 M6 0.00 23,810,000.00 80,577.01 0.00 M7 0.00 22,895,000.00 81,423.52 0.00 M8 0.00 13,737,000.00 55,360.11 0.00 B 0.00 9,158,000.00 38,158.33 0.00 X 0.00 7,324,566.00 6,505,594.29 0.00 P 0.00 100.00 1,108,506.84 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 1,453,839,334.85 76,429,701.64 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 605,067,000.00 490,029,793.83 0.00 27,931,791.02 0.00 0.00 A2 606,296,000.00 480,046,859.40 0.00 25,064,492.61 0.00 0.00 A3 336,317,000.00 265,338,411.11 0.00 12,474,111.86 0.00 0.00 A-SIO 0.00 0.00 0.00 0.00 0.00 0.00 A4 43,958,000.00 43,958,000.00 0.00 0.00 0.00 0.00 M1 57,695,000.00 57,695,000.00 0.00 0.00 0.00 0.00 M2 27,474,000.00 27,474,000.00 0.00 0.00 0.00 0.00 M3 27,474,000.00 27,474,000.00 0.00 0.00 0.00 0.00 M4 27,474,000.00 27,474,000.00 0.00 0.00 0.00 0.00 M5 22,895,000.00 22,895,000.00 0.00 0.00 0.00 0.00 M6 23,810,000.00 23,810,000.00 0.00 0.00 0.00 0.00 M7 22,895,000.00 22,895,000.00 0.00 0.00 0.00 0.00 M8 13,737,000.00 13,737,000.00 0.00 0.00 0.00 0.00 B 9,158,000.00 9,158,000.00 0.00 0.00 0.00 0.00 X 7,324,564.18 7,324,566.00 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 Totals 1,831,574,664.18 1,519,309,730.34 0.00 65,470,395.49 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 27,931,791.02 462,098,002.81 0.76371378 27,931,791.02 A2 25,064,492.61 454,982,366.79 0.75042944 25,064,492.61 A3 12,474,111.86 252,864,299.25 0.75186297 12,474,111.86 A-SIO 0.00 0.00 0.00000000 0.00 A4 0.00 43,958,000.00 1.00000000 0.00 M1 0.00 57,695,000.00 1.00000000 0.00 M2 0.00 27,474,000.00 1.00000000 0.00 M3 0.00 27,474,000.00 1.00000000 0.00 M4 0.00 27,474,000.00 1.00000000 0.00 M5 0.00 22,895,000.00 1.00000000 0.00 M6 0.00 23,810,000.00 1.00000000 0.00 M7 0.00 22,895,000.00 1.00000000 0.00 M8 0.00 13,737,000.00 1.00000000 0.00 B 0.00 9,158,000.00 1.00000000 0.00 X 0.00 7,324,566.00 1.00000025 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 65,470,395.49 1,453,839,334.85 0.79376471 65,470,395.49
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 605,067,000.00 809.87691252 0.00000000 46.16313734 0.00000000 A2 606,296,000.00 791.76979462 0.00000000 41.34035621 0.00000000 A3 336,317,000.00 788.95331223 0.00000000 37.09033995 0.00000000 A-SIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A4 43,958,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 57,695,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 27,474,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 27,474,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 27,474,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 22,895,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 23,810,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 22,895,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M8 13,737,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 9,158,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 7,324,564.18 100.00002485 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 except for Classes P and X which are per $100 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 46.16313734 763.71377519 0.76371378 46.16313734 A2 0.00000000 41.34035621 750.42943841 0.75042944 41.34035621 A3 0.00000000 37.09033995 751.86297229 0.75186297 37.09033995 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A4 0.00000000 0.00000000 1,000.00000000 1.00000000 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 M7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M8 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 100.00002485 1.00000025 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 605,067,000.00 2.42000% 490,029,793.83 1,021,167.64 0.00 0.00 A2 606,296,000.00 2.42000% 480,046,859.40 1,000,364.32 0.00 0.00 A3 336,317,000.00 2.38000% 265,338,411.11 543,796.33 0.00 0.00 A-SIO 0.00 0.00000% 1,582,894,757.56 0.00 0.00 0.00 A4 43,958,000.00 2.58000% 43,958,000.00 97,660.02 0.00 0.00 M1 57,695,000.00 2.71000% 57,695,000.00 134,637.69 0.00 0.00 M2 27,474,000.00 2.78000% 27,474,000.00 65,769.70 0.00 0.00 M3 27,474,000.00 3.13000% 27,474,000.00 74,050.06 0.00 0.00 M4 27,474,000.00 3.41000% 27,474,000.00 80,674.35 0.00 0.00 M5 22,895,000.00 3.63000% 22,895,000.00 71,565.95 0.00 0.00 M6 23,810,000.00 3.93000% 23,810,000.00 80,577.01 0.00 0.00 M7 22,895,000.00 4.13000% 22,895,000.00 81,423.52 0.00 0.00 M8 13,737,000.00 4.68000% 13,737,000.00 55,360.11 0.00 0.00 B 9,158,000.00 5.00000% 9,158,000.00 38,158.33 0.00 0.00 X 7,324,564.18 0.00000% 7,324,566.00 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 1,831,574,664.18 3,345,205.03 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 0.00 0.00 1,021,167.64 0.00 462,098,002.81 A2 0.00 0.00 1,000,364.31 0.00 454,982,366.79 A3 0.00 0.00 543,796.33 0.00 252,864,299.25 A-SIO 0.00 0.00 0.00 0.00 1,519,309,730.34 A4 0.00 0.00 97,660.02 0.00 43,958,000.00 M1 0.00 0.00 134,637.69 0.00 57,695,000.00 M2 0.00 0.00 65,769.70 0.00 27,474,000.00 M3 0.00 0.00 74,050.06 0.00 27,474,000.00 M4 0.00 0.00 80,674.35 0.00 27,474,000.00 M5 0.00 0.00 71,565.95 0.00 22,895,000.00 M6 0.00 0.00 80,577.01 0.00 23,810,000.00 M7 0.00 0.00 81,423.52 0.00 22,895,000.00 M8 0.00 0.00 55,360.11 0.00 13,737,000.00 B 0.00 0.00 38,158.33 0.00 9,158,000.00 X 0.00 0.00 6,505,594.29 0.00 7,324,566.00 P 0.00 0.00 1,108,506.84 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 10,959,306.15 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 605,067,000.00 2.42000% 809.87691252 1.68769350 0.00000000 0.00000000 A2 606,296,000.00 2.42000% 791.76979462 1.64996028 0.00000000 0.00000000 A3 336,317,000.00 2.38000% 788.95331223 1.61691598 0.00000000 0.00000000 A-SIO 0.00 0.00000% 864.22616940 0.00000000 0.00000000 0.00000000 A4 43,958,000.00 2.58000% 1000.00000000 2.22166659 0.00000000 0.00000000 M1 57,695,000.00 2.71000% 1000.00000000 2.33361106 0.00000000 0.00000000 M2 27,474,000.00 2.78000% 1000.00000000 2.39388877 0.00000000 0.00000000 M3 27,474,000.00 3.13000% 1000.00000000 2.69527772 0.00000000 0.00000000 M4 27,474,000.00 3.41000% 1000.00000000 2.93638895 0.00000000 0.00000000 M5 22,895,000.00 3.63000% 1000.00000000 3.12583315 0.00000000 0.00000000 M6 23,810,000.00 3.93000% 1000.00000000 3.38416674 0.00000000 0.00000000 M7 22,895,000.00 4.13000% 1000.00000000 3.55638873 0.00000000 0.00000000 M8 13,737,000.00 4.68000% 1000.00000000 4.03000000 0.00000000 0.00000000 B 9,158,000.00 5.00000% 1000.00000000 4.16666630 0.00000000 0.00000000 X 7,324,564.18 0.00000% 100.00002485 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 except for Classes P and X which are per $100 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 0.00000000 0.00000000 1.68769350 0.00000000 763.71377519 A2 0.00000000 0.00000000 1.64996027 0.00000000 750.42943841 A3 0.00000000 0.00000000 1.61691598 0.00000000 751.86297229 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 829.51012511 A4 0.00000000 0.00000000 2.22166659 0.00000000 1000.00000000 M1 0.00000000 0.00000000 2.33361106 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.39388877 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.69527772 0.00000000 1000.00000000 M4 0.00000000 0.00000000 2.93638895 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.12583315 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.38416674 0.00000000 1000.00000000 M7 0.00000000 0.00000000 3.55638873 0.00000000 1000.00000000 M8 0.00000000 0.00000000 4.03000000 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.16666630 0.00000000 1000.00000000 X 0.00000000 0.00000000 88.81885843 0.00000000 100.00002485 P 0.00000000 0.00000000 1108506.84000000 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 ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 77,524,205.50 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) (90,297.97) Prepayment Penalties 0.00 Total Deposits 77,433,907.53 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 1,004,205.89 Payment of Interest and Principal 76,429,701.64 Total Withdrawals (Pool Distribution Amount) 77,433,907.53 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 507,717.26 Credit Risk Manager's Fee 18,991.37 PMI Insurance Premium Fee 477,497.26 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 1,004,205.89
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 1,441,902.99 1,441,902.99 1,000.00 Financial Guaranty 0.00 1,515,175.20 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 28 0 0 28 3,390,649.44 0.00 0.00 3,390,649.44 30 Days 208 3 0 0 211 29,690,662.66 380,870.09 0.00 0.00 30,071,532.75 60 Days 92 1 16 0 109 13,049,563.51 72,406.14 2,066,635.51 0.00 15,188,605.16 90 Days 35 4 34 0 73 4,223,713.82 445,570.26 4,557,106.06 0.00 9,226,390.14 120 Days 25 11 25 1 62 3,418,581.56 1,001,568.94 3,915,027.04 71,557.26 8,406,734.80 150 Days 12 5 25 3 45 1,521,994.74 474,152.25 4,292,869.53 402,068.74 6,691,085.26 180+ Days 27 17 55 14 113 3,829,563.16 1,916,589.61 7,045,354.53 1,378,320.29 14,169,827.59 Totals 399 69 155 18 641 55,734,079.45 7,681,806.73 21,876,992.67 1,851,946.29 87,144,825.14 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 0.282201% 0.000000% 0.000000% 0.282201% 0.233007% 0.000000% 0.000000% 0.233007% 30 Days 2.096352% 0.030236% 0.000000% 0.000000% 2.126587% 2.040354% 0.026174% 0.000000% 0.000000% 2.066527% 60 Days 0.927232% 0.010079% 0.161258% 0.000000% 1.098569% 0.896771% 0.004976% 0.142020% 0.000000% 1.043767% 90 Days 0.352751% 0.040314% 0.342673% 0.000000% 0.735739% 0.290255% 0.030620% 0.313166% 0.000000% 0.634041% 120 Days 0.251965% 0.110865% 0.251965% 0.010079% 0.624874% 0.234926% 0.068828% 0.269042% 0.004917% 0.577714% 150 Days 0.120943% 0.050393% 0.251965% 0.030236% 0.453538% 0.104592% 0.032584% 0.295008% 0.027630% 0.459814% 180+ Days 0.272123% 0.171336% 0.554324% 0.141101% 1.138883% 0.263169% 0.131709% 0.484159% 0.094719% 0.973756% Totals 4.021367% 0.695424% 1.562185% 0.181415% 6.460391% 3.830067% 0.527897% 1.503395% 0.127266% 5.988625%
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 2 0 0 2 270,763.17 0.00 0.00 270,763.17 30 Days 15 0 0 0 15 1,531,378.28 0.00 0.00 0.00 1,531,378.28 60 Days 5 0 0 0 5 438,877.36 0.00 0.00 0.00 438,877.36 90 Days 1 1 3 0 5 26,041.64 75,454.75 426,927.51 0.00 528,423.90 120 Days 5 0 1 0 6 290,643.61 0.00 147,618.61 0.00 438,262.22 150 Days 2 0 1 0 3 97,714.83 0.00 62,753.85 0.00 160,468.68 180 Days 4 1 6 2 13 365,252.32 60,648.09 586,853.43 242,555.96 1,255,309.80 Totals 32 4 11 2 49 2,749,908.04 406,866.01 1,224,153.40 242,555.96 4,623,483.41 0-29 Days 0.160772% 0.000000% 0.000000% 0.160772% 0.188313% 0.000000% 0.000000% 0.188313% 30 Days 1.205788% 0.000000% 0.000000% 0.000000% 1.205788% 1.065057% 0.000000% 0.000000% 0.000000% 1.065057% 60 Days 0.401929% 0.000000% 0.000000% 0.000000% 0.401929% 0.305235% 0.000000% 0.000000% 0.000000% 0.305235% 90 Days 0.080386% 0.080386% 0.241158% 0.000000% 0.401929% 0.018112% 0.052478% 0.296924% 0.000000% 0.367513% 120 Days 0.401929% 0.000000% 0.080386% 0.000000% 0.482315% 0.202140% 0.000000% 0.102667% 0.000000% 0.304807% 150 Days 0.160772% 0.000000% 0.080386% 0.000000% 0.241158% 0.067960% 0.000000% 0.043645% 0.000000% 0.111604% 180 Days 0.321543% 0.080386% 0.482315% 0.160772% 1.045016% 0.254029% 0.042180% 0.408150% 0.168695% 0.873055% Totals 2.572347% 0.321543% 0.884244% 0.160772% 3.938907% 1.912532% 0.282971% 0.851386% 0.168695% 3.215583% 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 9 0 0 9 1,331,301.26 0.00 0.00 1,331,301.26 30 Days 73 1 0 0 74 11,052,995.57 84,586.19 0.00 0.00 11,137,581.76 60 Days 30 0 1 0 31 4,968,236.85 0.00 298,547.94 0.00 5,266,784.79 90 Days 22 2 3 0 27 2,798,364.79 320,388.95 679,105.03 0.00 3,797,858.77 120 Days 11 2 5 0 18 1,253,413.41 153,127.12 768,901.88 0.00 2,175,442.41 150 Days 8 0 8 1 17 1,135,774.92 0.00 1,191,261.12 167,173.39 2,494,209.43 180 Days 16 5 10 4 35 2,034,141.79 483,284.51 1,177,424.10 386,749.08 4,081,599.48 Totals 160 19 27 5 211 23,242,927.33 2,372,688.03 4,115,240.07 553,922.47 30,284,777.90 0-29 Days 0.319262% 0.000000% 0.000000% 0.319262% 0.309695% 0.000000% 0.000000% 0.309695% 30 Days 2.589571% 0.035474% 0.000000% 0.000000% 2.625044% 2.571215% 0.019677% 0.000000% 0.000000% 2.590892% 60 Days 1.064207% 0.000000% 0.035474% 0.000000% 1.099681% 1.155741% 0.000000% 0.069450% 0.000000% 1.225191% 90 Days 0.780419% 0.070947% 0.106421% 0.000000% 0.957786% 0.650973% 0.074531% 0.157978% 0.000000% 0.883481% 120 Days 0.390209% 0.070947% 0.177368% 0.000000% 0.638524% 0.291577% 0.035621% 0.178867% 0.000000% 0.506065% 150 Days 0.283789% 0.000000% 0.283789% 0.035474% 0.603051% 0.264211% 0.000000% 0.277118% 0.038889% 0.580218% 180 Days 0.567577% 0.177368% 0.354736% 0.141894% 1.241575% 0.473194% 0.112425% 0.273900% 0.089968% 0.949486% Totals 5.675772% 0.673998% 0.957786% 0.177368% 7.484924% 5.406910% 0.551949% 0.957312% 0.128857% 7.045028% 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 4 0 0 4 244,798.39 0.00 0.00 244,798.39 30 Days 10 0 0 0 10 1,056,324.09 0.00 0.00 0.00 1,056,324.09 60 Days 7 0 1 0 8 658,795.14 0.00 59,906.50 0.00 718,701.64 90 Days 2 0 3 0 5 260,353.71 0.00 588,668.05 0.00 849,021.76 120 Days 1 0 0 0 1 28,342.13 0.00 0.00 0.00 28,342.13 150 Days 0 0 2 0 2 0.00 0.00 507,251.43 0.00 507,251.43 180 Days 1 0 4 2 7 222,952.44 0.00 283,329.36 67,016.20 573,298.00 Totals 21 4 10 2 37 2,226,767.51 244,798.39 1,439,155.34 67,016.20 3,977,737.44 0-29 Days 0.331950% 0.000000% 0.000000% 0.331950% 0.169393% 0.000000% 0.000000% 0.169393% 30 Days 0.829876% 0.000000% 0.000000% 0.000000% 0.829876% 0.730946% 0.000000% 0.000000% 0.000000% 0.730946% 60 Days 0.580913% 0.000000% 0.082988% 0.000000% 0.663900% 0.455867% 0.000000% 0.041454% 0.000000% 0.497321% 90 Days 0.165975% 0.000000% 0.248963% 0.000000% 0.414938% 0.180157% 0.000000% 0.407341% 0.000000% 0.587498% 120 Days 0.082988% 0.000000% 0.000000% 0.000000% 0.082988% 0.019612% 0.000000% 0.000000% 0.000000% 0.019612% 150 Days 0.000000% 0.000000% 0.165975% 0.000000% 0.165975% 0.000000% 0.000000% 0.351003% 0.000000% 0.351003% 180 Days 0.082988% 0.000000% 0.331950% 0.165975% 0.580913% 0.154277% 0.000000% 0.196056% 0.046373% 0.396706% Totals 1.742739% 0.331950% 0.829876% 0.165975% 3.070539% 1.540859% 0.169393% 0.995854% 0.046373% 2.752479% 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 11 0 0 11 1,368,160.16 0.00 0.00 1,368,160.16 30 Days 76 1 0 0 77 9,027,747.22 127,317.52 0.00 0.00 9,155,064.74 60 Days 36 1 10 0 47 4,567,601.22 72,406.14 1,134,028.72 0.00 5,774,036.08 90 Days 7 0 18 0 25 863,194.27 0.00 1,689,106.39 0.00 2,552,300.66 120 Days 3 7 12 1 23 546,195.28 656,620.65 1,510,913.23 71,557.26 2,785,286.42 150 Days 2 5 11 1 19 288,504.99 474,152.25 1,328,330.68 50,056.26 2,141,044.18 180 Days 2 9 26 5 42 563,404.71 874,417.89 2,692,740.80 543,750.28 4,674,313.68 Totals 126 34 77 7 244 15,856,647.69 3,573,074.61 8,355,119.82 665,363.80 28,450,205.92 0-29 Days 0.365935% 0.000000% 0.000000% 0.365935% 0.324106% 0.000000% 0.000000% 0.324106% 30 Days 2.528277% 0.033267% 0.000000% 0.000000% 2.561544% 2.138602% 0.030161% 0.000000% 0.000000% 2.168762% 60 Days 1.197605% 0.033267% 0.332668% 0.000000% 1.563540% 1.082028% 0.017152% 0.268642% 0.000000% 1.367823% 90 Days 0.232868% 0.000000% 0.598802% 0.000000% 0.831670% 0.204484% 0.000000% 0.400136% 0.000000% 0.604620% 120 Days 0.099800% 0.232868% 0.399202% 0.033267% 0.765136% 0.129389% 0.155548% 0.357923% 0.016951% 0.659812% 150 Days 0.066534% 0.166334% 0.365935% 0.033267% 0.632069% 0.068345% 0.112323% 0.314671% 0.011858% 0.507196% 180 Days 0.066534% 0.299401% 0.864937% 0.166334% 1.397206% 0.133466% 0.207143% 0.637889% 0.128810% 1.107308% Totals 4.191617% 1.131071% 2.561544% 0.232868% 8.117099% 3.756314% 0.846433% 1.979262% 0.157619% 6.739628% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3(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 1 0 0 1 93,679.36 0.00 0.00 93,679.36 30 Days 8 0 0 0 8 1,342,542.76 0.00 0.00 0.00 1,342,542.76 60 Days 4 0 0 0 4 416,578.70 0.00 0.00 0.00 416,578.70 90 Days 1 0 0 0 1 71,837.72 0.00 0.00 0.00 71,837.72 120 Days 2 0 2 0 4 222,706.26 0.00 260,808.51 0.00 483,514.77 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 2 1 0 1 4 196,365.19 356,641.00 0.00 138,248.77 691,254.96 Totals 17 2 2 1 22 2,250,030.63 450,320.36 260,808.51 138,248.77 3,099,408.27 0-29 Days 0.181159% 0.000000% 0.000000% 0.181159% 0.114336% 0.000000% 0.000000% 0.114336% 30 Days 1.449275% 0.000000% 0.000000% 0.000000% 1.449275% 1.638573% 0.000000% 0.000000% 0.000000% 1.638573% 60 Days 0.724638% 0.000000% 0.000000% 0.000000% 0.724638% 0.508434% 0.000000% 0.000000% 0.000000% 0.508434% 90 Days 0.181159% 0.000000% 0.000000% 0.000000% 0.181159% 0.087678% 0.000000% 0.000000% 0.000000% 0.087678% 120 Days 0.362319% 0.000000% 0.362319% 0.000000% 0.724638% 0.271813% 0.000000% 0.318317% 0.000000% 0.590130% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.362319% 0.181159% 0.000000% 0.181159% 0.724638% 0.239664% 0.435280% 0.000000% 0.168733% 0.843676% Totals 3.079710% 0.362319% 0.362319% 0.181159% 3.985507% 2.746161% 0.549616% 0.318317% 0.168733% 3.782826% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3(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 1 0 0 1 81,947.10 0.00 0.00 81,947.10 30 Days 26 1 0 0 27 5,679,674.74 168,966.38 0.00 0.00 5,848,641.12 60 Days 10 0 4 0 14 1,999,474.24 0.00 574,152.35 0.00 2,573,626.59 90 Days 2 1 7 0 10 203,921.69 49,726.56 1,173,299.08 0.00 1,426,947.33 120 Days 3 2 5 0 10 1,077,280.87 191,821.17 1,226,784.81 0.00 2,495,886.85 150 Days 0 0 3 1 4 0.00 0.00 1,203,272.45 184,839.09 1,388,111.54 180 Days 2 1 9 0 12 447,446.71 141,598.12 2,305,006.84 0.00 2,894,051.67 Totals 43 6 28 1 78 9,407,798.25 634,059.33 6,482,515.53 184,839.09 16,709,212.20 0-29 Days 0.091241% 0.000000% 0.000000% 0.091241% 0.035181% 0.000000% 0.000000% 0.035181% 30 Days 2.372263% 0.091241% 0.000000% 0.000000% 2.463504% 2.438333% 0.072539% 0.000000% 0.000000% 2.510872% 60 Days 0.912409% 0.000000% 0.364964% 0.000000% 1.277372% 0.858391% 0.000000% 0.246489% 0.000000% 1.104880% 90 Days 0.182482% 0.091241% 0.638686% 0.000000% 0.912409% 0.087545% 0.021348% 0.503707% 0.000000% 0.612601% 120 Days 0.273723% 0.182482% 0.456204% 0.000000% 0.912409% 0.462486% 0.082350% 0.526669% 0.000000% 1.071506% 150 Days 0.000000% 0.000000% 0.273723% 0.091241% 0.364964% 0.000000% 0.000000% 0.516575% 0.079353% 0.595928% 180 Days 0.182482% 0.091241% 0.821168% 0.000000% 1.094891% 0.192093% 0.060789% 0.989559% 0.000000% 1.242441% Totals 3.923358% 0.547445% 2.554745% 0.091241% 7.116788% 4.038849% 0.272207% 2.783000% 0.079353% 7.173408%
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 Fixed Mixed & ARM & Balloon Weighted Average Gross Coupon 7.450951% Weighted Average Net Coupon 7.049939% Weighted Average Pass-Through Rate 6.672796% Weighted Average Maturity(Stepdown Calculation ) 347 Beginning Scheduled Collateral Loan Count 10,320 Number Of Loans Paid In Full 398 Ending Scheduled Collateral Loan Count 9,922 Beginning Scheduled Collateral Balance 1,519,309,730.34 Ending Scheduled Collateral Balance 1,453,839,334.85 Ending Actual Collateral Balance at 30-Nov-2004 1,455,172,403.28 Monthly P &I Constant 10,675,549.27 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 90,297.97 Cumulative Realized Loss 95,250.83 Ending Scheduled Balance for Premium Loans 1,453,839,334.85 Scheduled Principal 1,241,964.56 Unscheduled Principal 64,228,430.93
Miscellaneous Reporting Monthly Excess Cash 5,080,717.06 Overcollateralization Amount 7,324,665.100 Overcollateralization Deficiency 0.00 Targeted Overcollateralization Amount 7,324,666.00 Cap Payment 1,515,175.20
Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.876313 7.275314 7.459379 Weighted Average Net Rate 7.475786 6.854600 7.017630 Weighted Average Maturity 347 347 342 Beginning Loan Count 1,285 2,953 1,237 Loans Paid In Full 41 134 32 Ending Loan Count 1,244 2,819 1,205 Beginning Scheduled Balance 148,872,407.24 452,147,765.68 148,012,897.98 Ending scheduled Balance 143,653,370.58 429,470,676.69 144,366,670.72 Record Date 11/30/2004 11/30/2004 11/30/2004 Principal And Interest Constant 1,107,941.80 3,101,773.59 1,084,209.15 Scheduled Principal 130,803.69 360,509.62 164,138.87 Unscheduled Principal 5,088,232.97 22,316,579.37 3,482,088.39 Scheduled Interest 977,138.11 2,741,263.97 920,070.28 Servicing Fees 49,689.55 158,520.49 54,487.12 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 57,632.84 152,337.95 46,898.66 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 869,815.72 2,430,405.53 818,684.50 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.011231 6.450295 6.637404
Group Level Collateral Statement Group 2(B) 3(A) 3(B) Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.661578 7.378206 7.152696 Weighted Average Net Rate 7.276718 7.010606 6.771828 Weighted Average Maturity 342 343 343 Beginning Loan Count 3,136 570 1,139 Loans Paid In Full 130 18 43 Ending Loan Count 3,006 552 1,096 Beginning Scheduled Balance 443,250,308.24 84,333,198.71 242,693,152.49 Ending scheduled Balance 421,776,861.10 81,858,186.53 232,713,569.23 Record Date 11/30/2004 11/30/2004 11/30/2004 Principal And Interest Constant 3,148,205.37 598,611.37 1,634,807.99 Scheduled Principal 318,207.97 80,088.31 188,216.10 Unscheduled Principal 21,155,239.17 2,394,923.87 9,791,367.16 Scheduled Interest 2,829,997.40 518,523.06 1,446,591.89 Servicing Fees 142,157.68 25,834.07 77,028.35 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 117,816.30 19,351.59 83,459.92 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 2,570,023.42 473,337.40 1,286,103.62 Realized Loss Amount 90,297.97 0.00 0.00 Cumulative Realized Loss 90,297.97 0.00 4,952.86 Percentage of Cumulative Losses 0.0166 0.0000 0.0019 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.957758 6.735247 6.359159
Group Level Collateral Statement Group Total Collateral Description Mixed & ARM & Balloon Weighted Average Coupon Rate 7.450951 Weighted Average Net Rate 7.049939 Weighted Average Maturity 347.00 Record Date 11/30/2004 Principal And Interest Constant 10,675,549.27 Beginning Loan Count 10,320 Loans Paid In Full 398 Ending Loan Count 9,922 Beginning Scheduled Balance 1,519,309,730.34 Ending Scheduled Balance 1,453,839,334.85 Scheduled Principal 1,241,964.56 Unscheduled Principal 64,228,430.93 Scheduled Interest 9,433,584.71 Servicing Fee 507,717.26 Master Servicing Fee 0.00 Trustee Fee 0.00 Fry Amount 0.00 Special Hazard Fee 0.00 Other Fee 477,497.26 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 8,448,370.19 Realized Loss Amount 90,297.97 Cumulative Realized Loss 95,250.83 Percentage of Cumulative Losses 0.0060 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 6.672796
Ex 99.2
theMurrayhillcompany SAIL 2004-4 Credit Risk Manager Report November 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 Executive Summary Section Two Prepayment Premium Analysis Section Three Mortgage Insurance Analysis Section Four Losses Section Five Analytics Section One Executive Summary SAIL 2004-4 Executive Summary November 2004 Transaction Summary Closing Date: 04/30/2004 Depositor: Structured Asset Securities Corporation Trustee(s): La Salle Bank Securities Administrator: Wells Fargo Bank, N.A. Master Servicer: Aurora Loan Services Master Servicing Servicer(s): Aurora Loan Services, Chase Home Finance, HomEq, Option One Mortgage, Wells Fargo / ASC Mortgage Insurer(s): Mortgage Guaranty Insurance Corporation Delinquency Reporting Method: OTS1 Collateral Summary 2 10/31/2004 as a Percentage of Closing Date 10/31/2004 Closing Date Collateral Balance $1,835,679,462 $1,519,817,568 82.79% Loan Count 12,056 10,315 85.56% 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. Collateral Statistics Loan Count Summed Balance Repurchases* 2 $585,227 First Payment Defaults 7 $822,700 Early Payment Defaults** 80 $9,520,550 Multiple Loans to One Borrower 38 $3,606,766 *Refers to loans repurchased in the current month **A default that occurs on the second or third scheduled payment Second Lien Statistics Loan Count Summed Balance Total Outstanding Second Liens 607 $26,878,423 30 Days Delinquent 12 $611,221 60 Days Delinquent 3 $180,973 90+ Days Delinquent 15 $743,505 Mortgage Insurance Analysis Claim Payment Breakdown # of Claims Dollar Amount Claims Paid 0 $0.00 Claims Pending 2 $129,528.01* 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 the claim had been paid Age of Pending Claims # of Claims <30 30 60 90 120 150 180 210+ 2 1 1 0 0 0 0 0 0 Delinquencies Murrayhill noticed that delinquency counts have not reconciled between what the servicers are reporting and what is being reported on the remittance statement, particularly for loans in foreclosure status. 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. 11/25/2004 Remittance Delinquency 30 60 90+ FC REO Counts As reported on 233 92 110 133 17 remittance As reported by 234 83 69 168 10 servicers Difference -1 9 41 -35 7 c 2004 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for SAIL 2004-4 Mortgage Data Through: October 31, 2004 Section 1: 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-Nov-04 25-Oct-04 25-Sep-04 25-Aug-04 25-Jul-04 25-Jun-04 P Class $1,223,171 $1,115,922 $1,070,880 $763,492 $699,510 $448,145 Section 2: 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-Nov-04 25-Oct-04 25-Sep-04 25-Aug-04 25-Jul-04 25-Jun-04 Servicers $1,222,929 $1,115,922 $1,070,880 $802,280 $699,510 $354,343 Section 3: Reconciliation of the amounts remitted to the P class by the trustee and the amounts remitted by the servicers to the trustee. Amount remitted to the P Class: $1,223,171 Amount remitted by servicer: $1,222,929 Difference: $243 * In the 11/25/2004 remittance, there were discrepancies between what the master servicer remitted and what the securities administrator remitted in prepayment premiums. Murrayhill is working with both parties to determine the reason for the discrepancy. We will provide an update in next month's report. Aggregate Paid-Off Loans Report for SAIL 2004-4 Mortgage Data Through: October 31, 2004 Distribution Date 25-Nov-04 25-Oct-04 25-Sep-04 25-Aug-04 25-Jul-04 25-Jun-04 Loans with Active Prepayment Flags with Premiums 267 213 199 153 141 62 Remitted (A) Loans without Prepayment Flags with Premiums Remitted 4 0 3 3 0 1 Total Loans with Premiums Remitted (B) 271 213 202 156 141 63 Loans with Active Prepayment Flags (C) 269 215 204 156 145 63 Loans without Prepayment Flags with Premiums Remitted 4 0 3 3 0 1 Subtotal (D) 273 215 207 159 145 64 Premiums Remitted for loans with Active Prepayment 99.3% 99.1% 97.5% 98.1% 97.2% 98.4% Flags (A/C) Total Loans with Premiums Remitted to the Subtotal 99.3% 99.1% 97.6% 98.1% 97.2% 98.4% (B/D) Total Paid-Off Loans (E) 371 332 299 226 238 128 Total Loans with Premiums Remitted to the Total Paid- 73.0% 64.2% 67.6% 69.0% 59.2% 49.2% Off Loans (B/E) Paid-Off Loans Exception Report for SAIL 2004-4 Mortgage Data Through: October 31, 2004 Total Paid-Off Loans with Flags 273 Less Exceptions: Loans with Expired Prepayment Clauses (as stated in the Note)* 1 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* 3 Loans that were Liquidated Through Loss Mitigation Efforts* 0 Total Paid-Off Loans with Active Prepayment Flags (C) 269 Other Exceptions: Paid-Off Loans that Did Not Collect Premiums because of State Statutes 0 Paid-Off Loans with Active Prepayment Flags that Did Not Have Premiums Remitted 2 * These categories are mutually exclusive. Paid-off Loans With Prepayment Flags for SAIL 2004-4 Mortgage Data Through: October 31, 2004 Loan Number Delinquency StringOriginationPPP Flag Exp. Date Date 4862817 CCCCC0 1/22/2004 1 1/22/2005 4858903 CCCC0 2/5/2004 3 2/5/2007 4858381 CC36FF0 1/13/2004 2 1/13/2006 4863394 C6FFF0 1/15/2004 2 1/15/2006 4858624 3FFF0 1/30/2004 2 1/30/2006 4861011 CCCCCCC0 11/11/2003 0 11/11/2003 4888817 CCCCCCC0 12/8/2003 0 12/8/2003 4858881 CCCC0 1/2/2004 0 1/2/2004 4861862 CCCCCCCC0 1/26/2004 0 1/26/2004 4869832 CCCCCC0 12/15/2003 1 12/15/2004 4860618 CCCCCCC0 12/18/2003 1 12/18/2004 4866083 CCCCCC0 12/29/2003 1 12/29/2004 4859434 CCCC0 1/2/2004 1 1/2/2005 4865520 CCCC000 1/8/2004 1 1/8/2005 4869081 CCCCCC0 1/9/2004 1 1/9/2005 4867086 CCCCCC0 1/15/2004 1 1/15/2005 4865818 CCCCCC0 1/20/2004 1 1/20/2005 4859628 CCCC0 1/20/2004 1 1/20/2005 4861557 CCCCCCCC0 1/23/2004 1 1/23/2005 4863595 CCCCCCCC0 1/26/2004 1 1/26/2005 4859042 CCCC0 1/27/2004 1 1/27/2005 4863596 CCCCCCCC0 1/28/2004 1 1/28/2005 4863761 CCCCC0 1/29/2004 1 1/29/2005 4858942 CCCC0 1/30/2004 1 1/30/2005 4858686 CCCC0 2/6/2004 1 2/6/2005 4858687 CCCC0 2/6/2004 1 2/6/2005 4866040 CCCCCC0 11/17/2003 2 11/17/2005 4868192 CCCCCC0 11/18/2003 2 11/18/2005 4864570 CCCCCC0 11/21/2003 2 11/21/2005 4869695 CCCCCC0 11/24/2003 2 11/24/2005 4866153 CCCCCC0 11/26/2003 2 11/26/2005 4858458 CCCCCC0 11/26/2003 2 11/26/2005 4866555 CCCCCC0 11/28/2003 2 11/28/2005 4868188 CCCCCC0 12/1/2003 2 12/1/2005 4869699 CCCCCC0 12/1/2003 2 12/1/2005 4863305 CCCCCCC0 12/1/2003 2 12/1/2005 4870201 CCCCCC0 12/2/2003 2 12/2/2005 4865600 CCCCCC0 12/2/2003 2 12/2/2005 4867954 CCCCCC0 12/2/2003 2 12/2/2005 4861623 CCCCCCCC0 12/2/2003 2 12/2/2005 4858491 CCCCCC0 12/3/2003 2 12/3/2005 4869496 CCCCCC0 12/3/2003 2 12/3/2005 4866531 CCCCCC0 12/5/2003 2 12/5/2005 4860913 CCCCCCC0 12/8/2003 2 12/8/2005 4869339 CCCCCC0 12/10/2003 2 12/10/2005 4888869 CCCCCCC0 12/10/2003 2 12/10/2005 4868080 CCCCCC0 12/11/2003 2 12/11/2005 4888452 CCCCCCC0 12/11/2003 2 12/11/2005 4867367 CCCCCC0 12/12/2003 2 12/12/2005 4858334 CCCCCC0 12/15/2003 2 12/15/2005 4864816 CCCCCC0 12/15/2003 2 12/15/2005 4866546 CCCCCC0 12/15/2003 2 12/15/2005 4864808 CCCCCC0 12/16/2003 2 12/16/2005 4868279 CCCCCC0 12/16/2003 2 12/16/2005 4869927 CC36C30 12/16/2003 2 12/16/2005 4861770 CCCCCCCC0 12/16/2003 2 12/16/2005 4865520 CCCCCC0 12/16/2003 2 12/16/2005 4869394 CCCCCC0 12/17/2003 2 12/17/2005 4866180 CCCCCC0 12/17/2003 2 12/17/2005 4888922 CCCCCCC0 12/17/2003 2 12/17/2005 4888775 CCCCCCC0 12/17/2003 2 12/17/2005 4864319 CCCCC0 12/17/2003 2 12/17/2005 4870319 CCCCCC3 12/17/2003 2 12/17/2005 4868454 CCCCCC0 12/18/2003 2 12/18/2005 4888401 CCCCCCC0 12/18/2003 2 12/18/2005 4867570 CCCCCC0 12/19/2003 2 12/19/2005 4866193 CCCCCC0 12/19/2003 2 12/19/2005 4863506 CCCCC0 12/19/2003 2 12/19/2005 4868136 CCCCCC3 12/19/2003 2 12/19/2005 4865499 CCCCCC0 12/22/2003 2 12/22/2005 4864858 CCCCCC0 12/22/2003 2 12/22/2005 4869259 CCCCCC0 12/22/2003 2 12/22/2005 4865869 CCCCCC0 12/22/2003 2 12/22/2005 4888859 CCCCC6C0 12/22/2003 2 12/22/2005 4860619 CCCCCCC0 12/22/2003 2 12/22/2005 4866302 CCCCCC0 12/23/2003 2 12/23/2005 4858356 CCCCCC0 12/23/2003 2 12/23/2005 4864819 CCCCC30 12/23/2003 2 12/23/2005 4870235 CCCCCC0 12/23/2003 2 12/23/2005 4861733 CCCCCC0 12/23/2003 2 12/23/2005 4867876 CCCCCC0 12/23/2003 2 12/23/2005 4866183 CCCCCC0 12/23/2003 2 12/23/2005 4866192 CCCCCC0 12/24/2003 2 12/24/2005 4870348 CCCCCC0 12/24/2003 2 12/24/2005 4865349 CCCCCC0 12/24/2003 2 12/24/2005 4869789 CCCCCC0 12/24/2003 2 12/24/2005 4867432 CCCCCC0 12/24/2003 2 12/24/2005 4861972 CCCCC0 12/24/2003 2 12/24/2005 4870217 CCCC000 12/24/2003 2 12/24/2005 4866901 CCCCCC0 12/24/2003 2 12/24/2005 4865528 CCCCCC0 12/26/2003 2 12/26/2005 4865304 CCCCCC0 12/26/2003 2 12/26/2005 4869124 CCCCCC0 12/29/2003 2 12/29/2005 4865856 CCCCCC0 12/29/2003 2 12/29/2005 4861464 CCCCCC0 12/29/2003 2 12/29/2005 4859760 CCCC0 12/29/2003 2 12/29/2005 4869917 CCCCCC0 12/29/2003 2 12/29/2005 4867435 CCCCCC0 12/30/2003 2 12/30/2005 4865537 CCCCCC0 12/30/2003 2 12/30/2005 4864822 CCCCCC0 12/30/2003 2 12/30/2005 4866245 CCCCCC0 12/30/2003 2 12/30/2005 4861140 CCCCCC0 12/30/2003 2 12/30/2005 4867810 CCCCCC0 12/30/2003 2 12/30/2005 4869576 CCCCCC0 12/30/2003 2 12/30/2005 4869676 CCCCCC0 12/31/2003 2 12/31/2005 4858376 CCCCCC0 12/31/2003 2 12/31/2005 4865535 CCCCCC0 1/2/2004 2 1/2/2006 4868300 CCCCCC0 1/5/2004 2 1/5/2006 4859033 CCCC0 1/5/2004 2 1/5/2006 4859034 CCCC0 1/5/2004 2 1/5/2006 4862842 CCCCC0 1/5/2004 2 1/5/2006 4868942 CCCCCC0 1/5/2004 2 1/5/2006 4860072 CCCC0 1/5/2004 2 1/5/2006 4859289 CCCC0 1/5/2004 2 1/5/2006 4859290 CCCC0 1/5/2004 2 1/5/2006 4869461 CCCCCC0 1/6/2004 2 1/6/2006 4868863 CCCCCC0 1/6/2004 2 1/6/2006 4864110 CCCCC0 1/6/2004 2 1/6/2006 4862965 CCCCC0 1/6/2004 2 1/6/2006 4859496 CCCC0 1/8/2004 2 1/8/2006 4863870 CCCCC0 1/8/2004 2 1/8/2006 4863459 CCCCC0 1/8/2004 2 1/8/2006 4863096 CCCCC0 1/8/2004 2 1/8/2006 4862776 CCCCC0 1/8/2004 2 1/8/2006 4866261 CCCCCC0 1/9/2004 2 1/9/2006 4868329 CCCCCC0 1/9/2004 2 1/9/2006 4869337 CCCCCC0 1/9/2004 2 1/9/2006 4864348 CCCCC0 1/12/2004 2 1/12/2006 4867358 CCCCCC0 1/13/2004 2 1/13/2006 4867496 CCCCCC0 1/13/2004 2 1/13/2006 4864163 CCCCC0 1/13/2004 2 1/13/2006 4863667 CCCCC0 1/13/2004 2 1/13/2006 4863185 CCCCC0 1/13/2004 2 1/13/2006 4865698 CCCCCC0 1/14/2004 2 1/14/2006 4870228 CCCCCC0 1/14/2004 2 1/14/2006 4864929 CCCCCC0 1/14/2004 2 1/14/2006 4865778 CCCCCC0 1/14/2004 2 1/14/2006 4864206 CCCCC0 1/14/2004 2 1/14/2006 4858729 CCCC0 1/14/2004 2 1/14/2006 4859702 CCCC0 1/15/2004 2 1/15/2006 4867619 CCCCCC0 1/15/2004 2 1/15/2006 4867486 CCCCC30 1/16/2004 2 1/16/2006 4865326 CCCCCC0 1/16/2004 2 1/16/2006 4858654 CCCC0 1/16/2004 2 1/16/2006 4864098 CCCCC0 1/16/2004 2 1/16/2006 4863559 CCCCC0 1/16/2004 2 1/16/2006 4863267 CCCCC0 1/16/2004 2 1/16/2006 4862829 CCCCC0 1/16/2004 2 1/16/2006 4864333 CCCCC0 1/17/2004 2 1/17/2006 4866972 CCCCCC0 1/20/2004 2 1/20/2006 4859722 CCCC0 1/20/2004 2 1/20/2006 4859723 CCCC0 1/20/2004 2 1/20/2006 4863976 CCCCC0 1/20/2004 2 1/20/2006 4865324 CCCCCC0 1/21/2004 2 1/21/2006 4858439 CCCCCC0 1/21/2004 2 1/21/2006 4859713 CCCC0 1/22/2004 2 1/22/2006 4859714 CCCC0 1/22/2004 2 1/22/2006 4864000 CCCCC0 1/22/2004 2 1/22/2006 4863108 CCC360 1/22/2004 2 1/22/2006 4864223 CCCCC0 1/23/2004 2 1/23/2006 4863479 CCCCC0 1/23/2004 2 1/23/2006 4863172 CCCCC0 1/23/2004 2 1/23/2006 4863283 CCCCC0 1/23/2004 2 1/23/2006 4862864 CCCCC0 1/23/2004 2 1/23/2006 4863567 000000 1/23/2004 2 1/23/2006 4864731 CCCCC0 1/26/2004 2 1/26/2006 4864402 CCCCC0 1/26/2004 2 1/26/2006 4859603 CCCC0 1/26/2004 2 1/26/2006 4867348 CCCCC30 1/27/2004 2 1/27/2006 4858719 CCCC0 1/27/2004 2 1/27/2006 4858720 CCCC0 1/27/2004 2 1/27/2006 4864637 CCCCC0 1/27/2004 2 1/27/2006 4859345 CCCC0 1/27/2004 2 1/27/2006 4859346 CCCC0 1/27/2004 2 1/27/2006 4859041 CCCC0 1/27/2004 2 1/27/2006 4864634 CCCCC0 1/28/2004 2 1/28/2006 4864680 CCCCC0 1/28/2004 2 1/28/2006 4864738 CCCCC0 1/28/2004 2 1/28/2006 4864744 CCCCC0 1/28/2004 2 1/28/2006 4859435 CCCC0 1/28/2004 2 1/28/2006 4859507 CCCC0 1/28/2004 2 1/28/2006 4859508 CC369 1/28/2004 2 1/28/2006 4859521 CCCC0 1/29/2004 2 1/29/2006 4858672 CCCC0 1/29/2004 2 1/29/2006 4858673 CCCC0 1/29/2004 2 1/29/2006 4863778 CCCCC0 1/29/2004 2 1/29/2006 4863732 CCCC30 1/29/2004 2 1/29/2006 4860630 CCCCCCCC0 1/30/2004 2 1/30/2006 4864138 CCCCCCCC0 1/30/2004 2 1/30/2006 4860574 CCCCCCCC0 1/30/2004 2 1/30/2006 4859157 CCCC0 1/30/2004 2 1/30/2006 4858988 CCCC0 1/30/2004 2 1/30/2006 4858993 CCCC0 1/30/2004 2 1/30/2006 4864137 CCCCC0 1/30/2004 2 1/30/2006 4863286 CCCC30 1/30/2004 2 1/30/2006 4859795 CCCC0 1/30/2004 2 1/30/2006 4858551 CCCC0 2/2/2004 2 2/2/2006 4863798 CCCCC0 2/2/2004 2 2/2/2006 4863861 CCCCC0 2/2/2004 2 2/2/2006 4863341 CCCCC0 2/2/2004 2 2/2/2006 4860129 CCCC0 2/4/2004 2 2/4/2006 4860130 CCCC0 2/4/2004 2 2/4/2006 4859997 CCCC0 2/4/2004 2 2/4/2006 4866379 CCCCCC0 1/21/2004 3 7/21/2006 4861329 C0000000 10/29/2003 3 10/29/2006 4861023 CCCCCCC0 10/31/2003 3 10/31/2006 4866543 CCCCCC0 11/17/2003 3 11/17/2006 4868081 CCCCCC0 11/28/2003 3 11/28/2006 4865940 CCCCCC0 12/1/2003 3 12/1/2006 4868061 CCCCCC0 12/3/2003 3 12/3/2006 4864608 CCCCCC0 12/9/2003 3 12/9/2006 4861197 CCCCCC0 12/10/2003 3 12/10/2006 4867279 CCCCCC0 12/10/2003 3 12/10/2006 4864280 CCCCCCC0 12/10/2003 3 12/10/2006 4863507 CCCCCCCC0 12/19/2003 3 12/19/2006 4862004 CCCCC0 12/19/2003 3 12/19/2006 4869298 CCCCCC0 12/22/2003 3 12/22/2006 4865534 CCCCCC0 12/26/2003 3 12/26/2006 4890836 CCCCCC30 12/26/2003 3 12/26/2006 4869349 CCCCCC0 12/29/2003 3 12/29/2006 4867542 CCCCCC0 12/30/2003 3 12/30/2006 4869548 CCCCCC0 12/30/2003 3 12/30/2006 4867563 CCCCCC0 12/30/2003 3 12/30/2006 4867261 CCCCCC0 12/30/2003 3 12/30/2006 4865370 CCCCCC0 12/30/2003 3 12/30/2006 4862136 CCCCC0 12/30/2003 3 12/30/2006 4869132 CC36990 12/31/2003 3 12/31/2006 4866248 CCCCCC0 12/31/2003 3 12/31/2006 4859764 CCCC0 12/31/2003 3 12/31/2006 4860434 CCCCCCC0 1/2/2004 3 1/2/2007 4862843 CCCCC0 1/5/2004 3 1/5/2007 4863542 CCCCCCCC0 1/6/2004 3 1/6/2007 4862939 CCCCC0 1/6/2004 3 1/6/2007 4862784 CCCCC0 1/7/2004 3 1/7/2007 4862785 CCCCC0 1/7/2004 3 1/7/2007 4864187 CCCCCCCC0 1/8/2004 3 1/8/2007 4860571 CCCCCCCC0 1/8/2004 3 1/8/2007 4863544 CCCCC0 1/8/2004 3 1/8/2007 4867625 CCCCCC0 1/9/2004 3 1/9/2007 4869429 CCC3CC0 1/9/2004 3 1/9/2007 4864168 CCCCCCCC0 1/9/2004 3 1/9/2007 4861983 CCCCC0 1/9/2004 3 1/9/2007 4860851 CCCCCCC0 1/10/2004 3 1/10/2007 4862354 CCCCC0 1/12/2004 3 1/12/2007 4868321 CCCCCC0 1/13/2004 3 1/13/2007 4860659 CCCCCCCC0 1/13/2004 3 1/13/2007 4864165 CCCCC0 1/13/2004 3 1/13/2007 4864273 CCCCC0 1/13/2004 3 1/13/2007 4863989 CCCCCCCC0 1/15/2004 3 1/15/2007 4864227 CCCCC0 1/15/2004 3 1/15/2007 4864107 CCCCC0 1/16/2004 3 1/16/2007 4867283 CCCCCC0 1/20/2004 3 1/20/2007 4858878 CCCC0 1/20/2004 3 1/20/2007 4861385 CCCCCC0 1/21/2004 3 1/21/2007 4863771 CCCCC0 1/22/2004 3 1/22/2007 4867495 CCCCCC0 1/23/2004 3 1/23/2007 4867322 CCCCCC0 1/26/2004 3 1/26/2007 4861676 CCCCCCCC0 1/26/2004 3 1/26/2007 4864643 CCCCC0 1/26/2004 3 1/26/2007 4858882 CCCC0 1/26/2004 3 1/26/2007 4864670 CCCCCCCC0 1/27/2004 3 1/27/2007 4864672 CCCCC0 1/27/2004 3 1/27/2007 4864020 CCCCC0 1/27/2004 3 1/27/2007 4858665 CCCC0 1/27/2004 3 1/27/2007 4858735 CCCC0 1/27/2004 3 1/27/2007 4864353 CCCCCCCC0 1/28/2004 3 1/28/2007 4863001 CCCCCCCC0 1/29/2004 3 1/29/2007 4863349 CCCC30 1/29/2004 3 1/29/2007 4864046 C00000 1/29/2004 3 1/29/2007 4860036 CCCC0 1/30/2004 3 1/30/2007 4859156 CCCC0 1/30/2004 3 1/30/2007 4859326 CCCC0 1/30/2004 3 1/30/2007 4859873 CCCC0 1/30/2004 3 1/30/2007 4858627 CCCC0 1/30/2004 3 1/30/2007 4860627 CCCCCCCC0 2/3/2004 3 2/3/2007 4860054 CCCC0 2/6/2004 3 2/6/2007 w Paid-off Loans With Prepayment Flags for SAIL 2004-4 Mortgage Data Through: October 31, 2004 (CONT.) % of No PPP Payoff Premium to Premium Loan Number te PPP Remitted Collected, Comments Balance Payoff Collected, No Flag Balance w/ Flag 4862817 $ 356,751 $ - 0% 4862817 Awaiting servicer s response 4858903 $ 154,106 $ - 0% 4858903 Awaiting servicer s response 4858381 $ 349,367 $ - 0% Liquidated out of foreclosure status 4863394 $ 159,920 $ - 0% Liquidated out of foreclosure status 4858624 $ 222,130 $ - 0% Liquidated out of foreclosure status 4861011 $ 383,031 $ 9,837 3% 4861011 4888817 $ 260,400 $ 6,145 2% 4888817 4858881 $ 203,073 $ 2,630 1% 4858881 4861862 $ 373,746 $ 10,248 3% 4861862 4869832 $ 112,441 $ 2,250 2% 4860618 $ 44,811 $ 1,768 4% 4866083 $ 98,949 $ 1,981 2% 4859434 $ 74,132 $ 2,127 3% 4865520 $ 114,367 $ 3,852 3% 4869081 $ 113,144 $ 2,894 3% 4867086 $ 308,017 $ 8,148 3% 4865818 $ 171,159 $ 3,426 2% 4859628 $ 268,015 $ 7,822 3% 4861557 $ 162,902 $ 3,258 2% 4863595 $ 198,651 $ 4,958 2% 4859042 $ 361,213 $ 9,085 3% 4863596 $ 348,250 $ 10,838 3% 4863761 $ 126,812 $ 3,745 3% 4858942 $ 194,423 $ 6,205 3% 4858686 $ 258,498 $ 8,002 3% 4858687 $ 48,572 $ 1,939 4% 4866040 $ 234,027 $ 5,580 2% 4868192 $ 449,950 $ 3,939 1% 4864570 $ 174,771 $ 5,553 3% 4869695 $ 135,158 $ 2,705 2% 4866153 $ 76,408 $ 764 1% 4858458 $ 294,828 $ 9,663 3% 4866555 $ 166,991 $ 5,807 3% 4868188 $ 337,139 $ 6,743 2% 4869699 $ 97,482 $ 3,703 4% 4863305 $ 219,563 $ 6,427 3% 4870201 $ 142,879 $ 4,225 3% 4865600 $ 261,156 $ 3,844 1% 4867954 $ 49,966 $ 503 1% 4861623 $ 98,125 $ 2,857 3% 4858491 $ 222,010 $ 5,449 2% 4869496 $ 245,914 $ 6,321 3% 4866531 $ 109,731 $ 1,097 1% 4860913 $ 64,781 $ 2,460 4% 4869339 $ 259,373 $ 1,905 1% 4888869 $ 165,203 $ 4,378 3% 4868080 $ 78,836 $ 2,994 4% 4888452 $ 316,486 $ 9,214 3% 4867367 $ 128,505 $ 4,961 4% 4858334 $ 137,260 $ 3,593 3% 4864816 $ 85,813 $ 3,088 4% 4866546 $ 108,211 $ 1,082 1% 4864808 $ 73,672 $ 741 1% 4868279 $ 136,454 $ 1,181 1% 4869927 $ 109,199 $ 3,184 3% 4861770 $ 38,935 $ 1,168 3% 4865520 $ 225,864 $ 6,538 3% 4869394 $ 221,134 $ 6,372 3% 4866180 $ 62,481 $ 625 1% 4888922 $ 284,000 $ 7,668 3% 4888775 $ 35,355 $ 1,414 4% 4864319 $ 203,501 $ 5,322 3% 4870319 $ 82,113 $ 2,657 3% 4868454 $ 136,829 $ 2,739 2% 4888401 $ 178,807 $ 5,029 3% 4867570 $ 192,768 $ 4,969 3% 4866193 $ 63,169 $ 632 1% 4863506 $ 253,921 $ 6,072 2% 4868136 $ 129,285 $ 3,848 3% 4865499 $ 302,043 $ 10,259 3% 4864858 $ 49,654 $ 1,669 3% 4869259 $ 156,178 $ 1,380 1% 4865869 $ 91,278 $ 1,827 2% 4888859 $ 455,999 $ 12,474 3% 4860619 $ 269,668 $ 6,135 2% 4866302 $ 110,524 $ 3,579 3% 4858356 $ 156,100 $ 3,831 2% 4864819 $ 94,068 $ 3,577 4% 4870235 $ 127,495 $ 5,203 4% 4861733 $ 210,781 $ 4,878 2% 4867876 $ 371,161 $ 8,233 2% 4866183 $ 63,967 $ 640 1% 4866192 $ 129,870 $ 1,299 1% 4870348 $ 54,893 $ 549 1% 4865349 $ 165,868 $ 1,961 1% 4869789 $ 232,505 $ 4,654 2% 4867432 $ 206,431 $ 6,193 3% 4861972 $ 329,935 $ 10,048 3% 4870217 $ 254,322 $ 9,359 4% 4866901 $ 95,217 $ 3,634 4% 4865528 $ 301,792 $ 8,685 3% 4865304 $ 161,288 $ 3,228 2% 4869124 $ 101,779 $ 2,725 3% 4865856 $ 81,395 $ 1,629 2% 4861464 $ 164,744 $ 1,276 1% 4859760 $ 56,547 $ 2,710 5% 4869917 $ 179,086 $ 2,250 1% 4867435 $ 562,278 $ 15,174 3% 4865537 $ 301,273 $ 7,344 2% 4864822 $ 62,506 $ 1,996 3% 4866245 $ 84,377 $ 844 1% 4861140 $ 219,574 $ 5,785 3% 4867810 $ 156,386 $ 1,564 1% 4869576 $ 179,885 $ 6,107 3% 4869676 $ 135,007 $ 4,101 3% 4858376 $ 213,376 $ 5,963 3% 4865535 $ 481,149 $ 14,327 3% 4868300 $ 266,171 $ 2,034 1% 4859033 $ 91,698 $ 3,848 4% 4859034 $ 365,767 $ 10,956 3% 4862842 $ 185,885 $ 5,004 3% 4868942 $ 199,880 $ 7,108 4% 4860072 $ 104,478 $ 4,440 4% 4859289 $ 42,472 $ 1,995 5% 4859290 $ 169,374 $ 5,209 3% 4869461 $ 114,963 $ 1,541 1% 4868863 $ 49,678 $ 500 1% 4864110 $ 214,438 $ 5,644 3% 4862965 $ 146,860 $ 4,045 3% 4859496 $ 312,937 $ 10,627 3% 4863870 $ 151,725 $ 3,538 2% 4863459 $ 235,571 $ 7,145 3% 4863096 $ 278,334 $ 8,449 3% 4862776 $ 202,966 $ 6,811 3% 4866261 $ 152,017 $ 1,520 1% 4868329 $ 314,227 $ 6,289 2% 4869337 $ 123,034 $ 3,849 3% 4864348 $ 159,202 $ 5,725 4% 4867358 $ 118,231 $ 4,069 3% 4867496 $ 361,996 $ 11,553 3% 4864163 $ 119,243 $ 3,139 3% 4863667 $ 182,074 $ 6,185 3% 4863185 $ 224,269 $ 8,060 4% 4865698 $ 54,978 $ 1,100 2% 4870228 $ 89,553 $ 3,043 3% 4864929 $ 50,067 $ 1,002 2% 4865778 $ 216,461 $ 8,829 4% 4864206 $ 142,962 $ 4,570 3% 4858729 $ 177,417 $ 5,314 3% 4859702 $ 223,016 $ 4,940 2% 4867619 $ 169,055 $ 5,362 3% 4867486 $ 305,827 $ 9,860 3% 4865326 $ 124,416 $ 1,244 1% 4858654 $ 193,218 $ 5,789 3% 4864098 $ 130,111 $ 3,380 3% 4863559 $ 366,368 $ 11,125 3% 4863267 $ 306,000 $ 9,119 3% 4862829 $ 152,107 $ 4,248 3% 4864333 $ 250,860 $ 7,517 3% 4866972 $ 165,804 $ 1,221 1% 4859722 $ 29,921 $ 1,375 5% 4859723 $ 109,262 $ 3,050 3% 4863976 $ 198,841 $ 4,944 2% 4865324 $ 176,518 $ 5,630 3% 4858439 $ 278,095 $ 8,820 3% 4859713 $ 36,865 $ 1,472 4% 4859714 $ 146,990 $ 4,050 3% 4864000 $ 232,264 $ 6,952 3% 4863108 $ 188,375 $ 5,269 3% 4864223 $ 202,974 $ 5,391 3% 4863479 $ 158,675 $ 6,121 4% 4863172 $ 170,164 $ 5,371 3% 4863283 $ 170,971 $ 4,689 3% 4862864 $ 113,219 $ 3,508 3% 4863567 $ 264,000 $ 7,151 3% 4864731 $ 147,312 $ 5,005 3% 4864402 $ 247,781 $ 6,722 3% 4859603 $ 24,926 $ 1,095 4% 4867348 $ 95,375 $ 956 1% 4858719 $ 29,911 $ 1,314 4% 4858720 $ 111,466 $ 3,874 3% 4864637 $ 299,736 $ 8,368 3% 4859345 $ 47,806 $ 1,815 4% 4859346 $ 190,585 $ 4,946 3% 4859041 $ 90,668 $ 3,620 4% 4864634 $ 193,543 $ 5,173 3% 4864680 $ 164,248 $ 5,414 3% 4864738 $ 126,453 $ 3,527 3% 4864744 $ 282,985 $ 7,350 3% 4859435 $ 192,613 $ 5,444 3% 4859507 $ 29,963 $ 1,408 5% 4859508 $ 109,677 $ 3,332 3% 4859521 $ 168,860 $ 4,713 3% 4858672 $ 45,841 $ 1,878 4% 4858673 $ 182,894 $ 5,515 3% 4863778 $ 168,123 $ 6,210 4% 4863732 $ 188,629 $ 4,979 3% 4860630 $ 151,854 $ 3,037 2% 4864138 $ 49,475 $ 2,027 4% 4860574 $ 329,778 $ 9,218 3% 4859157 $ 123,344 $ 3,695 3% 4858988 $ 243,555 $ 6,761 3% 4858993 $ 139,016 $ 3,747 3% 4864137 $ 198,529 $ 5,800 3% 4863286 $ 304,731 $ 8,524 3% 4859795 $ 56,742 $ 2,029 4% 4858551 $ 99,654 $ 4,082 4% 4863798 $ 231,443 $ 6,649 3% 4863861 $ 122,735 $ 1,227 1% 4863341 $ 221,698 $ 6,192 3% 4860129 $ 89,255 $ 2,514 3% 4860130 $ 25,206 $ 1,107 4% 4859997 $ 36,559 $ 366 1% 4866379 $ 160,664 $ 1,608 1% 4861329 $ 361,300 $ 3,275 1% 4861023 $ 521,600 $ 10,432 2% 4866543 $ 49,824 $ 499 1% 4868081 $ 137,698 $ 4,895 4% 4865940 $ 61,144 $ 1,937 3% 4868061 $ 133,758 $ 5,563 4% 4864608 $ 233,739 $ 6,593 3% 4861197 $ 49,600 $ 1,489 3% 4867279 $ 238,307 $ 2,383 1% 4864280 $ 41,474 $ 1,803 4% 4863507 $ 63,261 $ 2,397 4% 4862004 $ 71,614 $ 716 1% 4869298 $ 135,250 $ 1,554 1% 4865534 $ 128,885 $ 3,265 3% 4890836 $ 129,229 $ 3,148 2% 4869349 $ 168,421 $ 5,175 3% 4867542 $ 203,478 $ 5,245 3% 4869548 $ 92,244 $ 2,541 3% 4867563 $ 194,965 $ 6,758 3% 4867261 $ 186,290 $ 5,808 3% 4865370 $ 239,317 $ 7,078 3% 4862136 $ 146,564 $ 2,930 2% 4869132 $ 80,557 $ 2,790 3% 4866248 $ 109,751 $ 1,098 1% 4859764 $ 258,256 $ 7,209 3% 4860434 $ 273,062 $ 7,363 3% 4862843 $ 46,292 $ 1,843 4% 4863542 $ 240,655 $ 7,400 3% 4862939 $ 259,058 $ 6,663 3% 4862784 $ 148,665 $ 4,364 3% 4862785 $ 37,031 $ 1,588 4% 4864187 $ 65,337 $ 2,607 4% 4860571 $ 204,243 $ 5,505 3% 4863544 $ 197,882 $ 5,108 3% 4867625 $ 68,444 $ 2,434 4% 4869429 $ 173,722 $ 5,290 3% 4864168 $ 318,571 $ 10,628 3% 4861983 $ 96,834 $ 968 1% 4860851 $ 158,754 $ 5,631 4% 4862354 $ 29,831 $ 858 3% 4868321 $ 225,245 $ 4,509 2% 4860659 $ 84,607 $ 846 1% 4864165 $ 29,457 $ 1,110 4% 4864273 $ 36,340 $ 363 1% 4863989 $ 135,125 $ 3,508 3% 4864227 $ 208,973 $ 6,805 3% 4864107 $ 32,287 $ 1,195 4% 4867283 $ 179,310 $ 3,275 2% 4858878 $ 157,985 $ 4,732 3% 4861385 $ 319,534 $ 6,396 2% 4863771 $ 245,802 $ 7,800 3% 4867495 $ 151,050 $ 4,434 3% 4867322 $ 91,123 $ 2,809 3% 4861676 $ 93,764 $ 4,161 4% 4864643 $ 152,232 $ 1,349 1% 4858882 $ 198,629 $ 5,453 3% 4864670 $ 106,688 $ 3,218 3% 4864672 $ 372,565 $ 9,596 3% 4864020 $ 180,916 $ 5,049 3% 4858665 $ 173,710 $ 4,508 3% 4858735 $ 147,365 $ 5,747 4% 4864353 $ 200,899 $ 5,840 3% 4863001 $ 183,689 $ 4,393 2% 4863349 $ 46,884 $ 1,872 4% 4864046 $ 183,347 $ 4,429 2% 4860036 $ 194,986 $ 6,224 3% 4859156 $ 30,920 $ 1,358 4% 4859326 $ 134,997 $ 4,287 3% 4859873 $ 210,326 $ 6,679 3% 4858627 $ 123,997 $ 4,814 4% 4860627 $ 214,366 $ 1,509 1% 4860054 $ 58,108 $ 588 1% c 2004 The Murrayhill Company. All Rights Reserved. Section Three Mortgage Insurance Analysis SAIL 2004-4Mortgage Insurance Claims Mortgage Data Through: October 31, 2004 Loan First Current Orig MI Claim Date Deliq Number Pmt Valu OAV Amt OLTV Cert Dile Dt Paid String Claim lastpd Method CV Curr CLTV MI Est Clm Amt Settle date Bal Cov % Pmt Paid Opt 2/1/04 6/26/04 $126,000 21310191 C3FFFRR 4869018 Appr $140,000 90% 11/2/04 Initial $142,000 88.61% $46,239 3/1/04 $125,839 34.00% ================================================================================== $223,250 21309299 $0 4863043 BPO $235,000 95% 9/22/04 CCCC36FRR 3/1/04 09/15/04 4/1/2004 $135,000 $222,952 37.00% $0 Initial 165.14% $85,665 ================================================================================== 2/1/04 Appr $130,000 90% 10/4/04 36FFRRR 4869013 06/19/04 $117,000 21310589 $0 Initial $60,000 194.88% $43,863 2/1/04 $116,933 34% $0 ================================================================================== c 2004 The Murrayhill Company. All Rights Reserved. Section Four Losses Sail 2004-4 Historical Monthly Losses Losses Through: October 31, 2004 Loan Loss Date Loss Amount Percentage 11/25/2004 $0.00 0.00% 10/25/2004 $4,952.86 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 $0.00 0.00% Totals: $4,952.86 0.00% * The loss percentage is a calculation of the total monthly loss as a percentage of the original balance of the security. Sail 2004-4 Loss Report Losses Through: October 31, 2004 October 25, 2004 Loan Number 4868182 State VA Origination 12/16/2003 Date Original 80% LTV Original $396,000 Amount Original $495,000 Appraisal Loss $4,952.86 Loss 1.25% Severity Loss Loss Severity Monthly Total: $4,952.86 1.25% Overall Total: $4,952.86 1.25% c 2004 The Murrayhill Company. All Rights Reserved. Section Five Analytics Sail 2004-4 FICO Distribution by Status Mortgage Data Through: October 31, 2004 FICO Delinquency Percentage 460 Delinquent 0.002 480 Current 0 480 Delinquent 0.002 490 Current 0 500 Current 0.013 500 Delinquent 0.028 500 Paid Off 0.009 510 Current 0.03 510 Delinquent 0.078 510 Paid Off 0.037 520 Current 0.038 520 Delinquent 0.074 520 Paid Off 0.038 530 Current 0.036 530 Delinquent 0.103 530 Paid Off 0.053 540 Current 0.043 540 Delinquent 0.071 540 Paid Off 0.059 550 Current 0.041 550 Delinquent 0.069 550 Paid Off 0.051 560 Current 0.04 560 Delinquent 0.062 560 Paid Off 0.043 570 Current 0.037 570 Delinquent 0.05 570 Paid Off 0.049 580 Current 0.05 580 Delinquent 0.043 580 Paid Off 0.057 590 Current 0.053 590 Delinquent 0.037 590 Paid Off 0.041 600 Current 0.057 600 Delinquent 0.043 600 Paid Off 0.049 610 Current 0.06 610 Delinquent 0.053 610 Paid Off 0.053 620 Current 0.067 620 Delinquent 0.062 620 Paid Off 0.049 630 Current 0.064 630 Delinquent 0.043 630 Paid Off 0.055 640 Current 0.063 640 Delinquent 0.048 640 Paid Off 0.055 650 Current 0.052 650 Delinquent 0.035 650 Paid Off 0.046 660 Current 0.046 660 Delinquent 0.012 660 Paid Off 0.043 670 Current 0.039 670 Delinquent 0.014 670 Paid Off 0.037 680 Current 0.031 680 Delinquent 0.011 680 Paid Off 0.034 690 Current 0.029 690 Delinquent 0.007 690 Paid Off 0.026 700 Current 0.023 700 Delinquent 0.009 700 Paid Off 0.022 Sail 2004-4 Loan-to-Value Distribution by Status Mortgage Data Through: October 31, 2004 LTV Delinquency Percentage 0 Current 0 0.1 Paid Off 0.014 0.1 Current 0.007 0.2 Current 0.055 0.2 Delinquent 0.053 0.2 Paid Off 0.063 0.3 Delinquent 0.004 0.3 Paid Off 0.008 0.3 Current 0.009 0.4 Paid Off 0.012 0.4 Delinquent 0.012 0.4 Current 0.014 0.5 Delinquent 0.009 0.5 Current 0.027 0.5 Paid Off 0.023 0.6 Current 0.055 0.6 Paid Off 0.067 0.6 Delinquent 0.028 0.7 Paid Off 0.128 0.7 Current 0.115 0.7 Delinquent 0.108 0.8 Paid Off 0.399 0.8 Delinquent 0.466 0.8 Current 0.393 0.9 Paid Off 0.228 0.9 Delinquent 0.222 0.9 Current 0.238 1 Delinquent 0.098 1 Paid Off 0.059 1 Current 0.086 Number Std. Status of Loans Average Deviation Current 9,751 0.802 0.13 Delinquent 564 0.814 0.111 Paid Off 1,665 0.796 0.127 Total: 11,980 Sail 2004-4 Balance Distribution by Status Mortgage Data Through: October 31, 2004 Balance Delinquency Percentage 10000 Current 0.002 20000 Current 0.009 20000 Delinquent 0.005 30000 Current 0.021 30000 Delinquent 0.021 40000 Current 0.022 40000 Delinquent 0.028 50000 Current 0.055 50000 Delinquent 0.064 60000 Current 0.06 60000 Delinquent 0.085 70000 Current 0.065 70000 Delinquent 0.078 80000 Current 0.06 80000 Delinquent 0.074 90000 Current 0.054 90000 Delinquent 0.055 100000 Current 0.056 100000 Delinquent 0.044 110000 Current 0.052 110000 Delinquent 0.069 120000 Current 0.05 120000 Delinquent 0.046 130000 Current 0.044 130000 Delinquent 0.043 140000 Current 0.044 140000 Delinquent 0.057 150000 Current 0.038 150000 Delinquent 0.03 160000 Current 0.037 160000 Delinquent 0.028 170000 Current 0.031 170000 Delinquent 0.032 180000 Current 0.029 180000 Delinquent 0.025 190000 Current 0.026 190000 Delinquent 0.021 200000 Current 0.022 200000 Delinquent 0.023 210000 Current 0.023 210000 Delinquent 0.027 220000 Current 0.022 220000 Delinquent 0.021 230000 Current 0.019 230000 Delinquent 0.023 240000 Current 0.015 240000 Delinquent 0.005 250000 Current 0.015 250000 Delinquent 0.009 260000 Current 0.013 260000 Delinquent 0.007 270000 Current 0.011 270000 Delinquent 0.012 280000 Current 0.012 290000 Current 0.009 290000 Delinquent 0.005 300000 Current 0.011 300000 Delinquent 0.011 310000 Current 0.007 310000 Delinquent 0.005 320000 Current 0.008 320000 Delinquent 0.007 330000 Current 0.007 330000 Delinquent 0.005 340000 Current 0.006 340000 Delinquent 0.002 350000 Current 0.005 Sail 2004-4 Mortgage Type Distribution by Status Mortgage Data Through: October 31, 2004 Mortgage Type Delinquency Percentage Investment Home Current 0.09 Investment Home Delinquent 0.08 Investment Home Paid Off 0.108 Primary Home Current 0.899 Primary Home Delinquent 0.918 Primary Home Paid Off 0.888 Second Home Current 0.011 Second Home Delinquent 0.002 Second Home Paid Off 0.004 Mortgage Loan Total Avg. Std. Type Count Balance Balance Deviation (Unknown) 64 6,976,437.61 109,006.84 88,051.92 ARM 8,435 1,130,287,753.01 133,999.73 105,363.13 Balloon 181 6,532,871.48 36,093.21 32,163.69 Fixed 3,300 376,020,506.32 113,945.61 94,921.23 Total: 11,980 1,519,817,568.42 Sail 2004-4 Mortgage Term Distribution by Status Mortgage Data Through: October 31, 2004 Mortgage Term Delinquency Percentage 120 Current 0.001 180 Current 0.042 180 Delinquent 0.023 180 Paid Off 0.035 240 Paid Off 0.019 240 Delinquent 0.016 240 Current 0.02 360 Current 0.937 360 Delinquent 0.961 360 Paid Off 0.946 Number of Loans Other 120 180 240 360 11,980 0 9 482 232 11257 Sail 2004-4 Mortgage Purpose Distribution Mortgage Data Through: October 31, 2004 Origination Statistics Number of Loans: 12,056 Purpose Number Percentage Cash-out refinance 7,023 58.3% Purchase 4,089 33.9% Rate/term 944 7.8% Home 0 0.0% Other 0 0.0% Total 12,056 100% Current Loans Number of Loans: 9,751 Purpose Number Percentage Cash-out refinance 5,656 58.0% Purchase 3,328 34.1% Rate/term 767 7.9% Home 0 0.0% Other 0 0.0% Total 9,751 100% Delinquent Loans Number of Loans: 564 Purpose Number Percentage Cash-out refinance 292 51.8% Purchase 228 40.4% Rate/term 44 7.8% Home 0 0.0% Other 0 0.0% Total 564 100% Paid Off Loans Number of Loans: 1,665 Purpose Number Percentage Cash-out refinance 1,035 62.2% Purchase 504 30.3% Rate/term 126 7.6% Home 0 0.0% Other 0 0.0% Total 1,665 100% Sail 2004-4 Ownership Distribution by Status Mortgage Data Through: October 31, 2004 Ownership Type Delinquency Percentage Investment Home Current 0.09 Investment Home Delinquent 0.08 Investment Home Paid Off 0.108 Primary Home Current 0.899 Primary Home Delinquent 0.918 Primary Home Paid Off 0.888 Second Home Current 0.011 Second Home Delinquent 0.002 Second Home Paid Off 0.004 Title # of Loans Investment Home 1,106 Primary Home 10,761 Second Home 113 Total: 11,980 Sail 2004-4 Delinquent Count Over Time Mortgage Data Through: October 31, 2004 Total Count in Status AsOfDate 30 Days 60 Days 90 Days 31-Oct-04 234 83 69 30-Sep-04 234 78 52 31-Aug-04 217 70 37 31-Jul-04 185 64 30 30-Jun-04 155 66 8 31-May-04 85 13 0 30-Apr-04 54 0 0 AsOfDate Foreclosure REO 31-Oct-04 168 10 30-Sep-04 140 6 31-Aug-04 116 4 31-Jul-04 70 0 30-Jun-04 29 0 31-May-04 15 0 30-Apr-04 0 0 Sail 2004-4 Delinquent Balance Over Time Mortgage Data Through: October 31, 2004 Total Balance in Status AsOfDate 30 Days 60 Days 90 Days 31-Oct-04 $31,654,726 $11,008,028 $9,082,101 30-Sep-04 $32,881,930 $11,123,311 $6,619,371 31-Aug-04 $32,257,461 $10,872,716 $5,361,245 31-Jul-04 $26,890,279 $9,593,109 $3,261,889 30-Jun-04 $24,899,169 $8,230,063 $932,633 31-May-04 $11,422,774 $1,686,548 $0 30-Apr-04 $7,921,198 $0 $0 AsOfDate Foreclosure REO 31-Oct-04 $22,879,628 $962,945 30-Sep-04 $19,286,025 $712,460 31-Aug-04 $15,786,269 $363,669 31-Jul-04 $10,042,075 - 30-Jun-04 $3,929,748 - 31-May-04 $2,239,986 - 30-Apr-04 - - Sail 2004-4 Conditional Prepayment Rates Mortgage Data Through: October 31, 2004 Distribution 3-Month 6-Month 12-Month Date * Date CPR MA MA MA 31-Oct-04 25-Nov-04 38.27% 35.52% 29.26% 30-Sep-04 25-Oct-04 35.35% 31.06% 31-Aug-04 25-Sep-04 32.81% 27.59% 31-Jul-04 25-Aug-04 24.55% 22.40% 30-Jun-04 25-Jul-04 25.10% 31-May-04 25-Jun-04 17.30% 30-Apr-04 25-May-04 79.38% * Data in table is displayed for only the most recent 18 months. Sail 2004-4 Historical SDA Performance Mortgage Data Through: October 31, 2004 Weighted Monthly Average Default Default CDR SDA Date Age Amt Rate (F-R) Curve SDA % 31-Oct-04 9.51 $250,485 0.01% 0.12% 0.19% 63% 30-Sep-04 8.50 $348,791 0.02% 0.24% 0.17% 141% 31-Aug-04 7.51 $363,669 0.02% 0.24% 0.15% 160% 31-Jul-04 6.49 $0 0.00% 0.00% 0.13% 0% 30-Jun-04 5.50 $0 0.00% 0.00% 0.11% 0% 31-May-04 3.99 $0 0.00% 0.00% 0.08% 0% 30-Apr-04 2.46 $0 0.00% 0.00% 0.05% 0% Averages: 6.28 $137,564 0.01% 0.09% 0.13% 52% c 2004 The Murrayhill Company. All Rights Reserved.
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