-----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, E1nTXSfM7r1wLcswOWOWw06IWqyIyJzTlj/UFuPRMRBAxMWal+Ew7yaYf5r+7Edd Dw44AxQEU8DmCQClQqkQww== 0001056404-04-002856.txt : 20040903 0001056404-04-002856.hdr.sgml : 20040903 20040903104008 ACCESSION NUMBER: 0001056404-04-002856 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040825 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20040903 DATE AS OF CHANGE: 20040903 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STRUCTURED ASSET INVESTMENT LOAN TRUST 2004-5 CENTRAL INDEX KEY: 0001292368 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-106925-36 FILM NUMBER: 041015439 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 sai04005_aug.txt AUGUST 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): August 25, 2004 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-5 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106925-36 Pooling and Servicing Agreement) (Commission 54-2154091 (State or other File Number) 54-2154092 jurisdiction 54-2154093 of Incorporation) 54-2154094 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 August 25, 2004 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2004-5 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 2004-5 Trust, relating to the August 25, 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 2004-5 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: 8/30/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-5 Trust, relating to the August 25, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report EX-99.1
Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 7/31/04 Distribution Date: 8/25/04 SAIL Series: 2004-5 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 86358EJA5 SEN 1.71000% 406,341,793.14 579,037.08 12,266,563.07 A2 86358EJB3 SEN 1.63000% 237,006,275.61 321,933.54 10,614,390.52 A3 86358EJC1 SEN 1.95000% 42,572,000.00 69,179.50 0.00 A-SIO 86358EJD9 IO 0.00000% 0.00 0.00 0.00 M1 86358EJE7 MEZ 1.98000% 25,231,000.00 41,631.15 0.00 M2 86358EJF4 MEZ 2.00000% 23,129,000.00 38,548.33 0.00 M3 86358EJG2 MEZ 2.07000% 12,616,000.00 21,762.60 0.00 M4 86358EJH0 MEZ 2.43000% 14,719,000.00 29,805.98 0.00 M5 86358EJJ6 MEZ 2.60000% 12,616,000.00 27,334.67 0.00 M6 86358EJK3 MEZ 2.93000% 10,514,000.00 25,671.68 0.00 M7 86358EJL1 MEZ 3.45000% 8,410,000.00 24,178.75 0.00 M8 86358EJM9 MEZ 3.85000% 10,514,000.00 33,732.42 0.00 B 86358EJN7 SUB 3.95000% 10,514,000.00 34,608.58 0.00 X SAI04005X RES 0.00000% 4,203,335.74 3,209,697.47 0.00 P SAI04005P SEN 0.00000% 100.00 264,745.53 0.00 R SAI4005R4 RES 0.00000% 0.00 0.00 0.00 Totals 818,386,504.49 4,721,867.28 22,880,953.59
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 394,075,230.07 12,845,600.15 0.00 A2 0.00 226,391,885.09 10,936,324.06 0.00 A3 0.00 42,572,000.00 69,179.50 0.00 A-SIO 0.00 0.00 0.00 0.00 M1 0.00 25,231,000.00 41,631.15 0.00 M2 0.00 23,129,000.00 38,548.33 0.00 M3 0.00 12,616,000.00 21,762.60 0.00 M4 0.00 14,719,000.00 29,805.98 0.00 M5 0.00 12,616,000.00 27,334.67 0.00 M6 0.00 10,514,000.00 25,671.68 0.00 M7 0.00 8,410,000.00 24,178.75 0.00 M8 0.00 10,514,000.00 33,732.42 0.00 B 0.00 10,514,000.00 34,608.58 0.00 X 0.00 4,203,335.74 3,209,697.47 0.00 P 0.00 100.00 264,745.53 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 795,505,550.90 27,602,820.87 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 416,750,000.00 406,341,793.14 0.00 12,266,563.07 0.00 0.00 A2 249,266,000.00 237,006,275.61 0.00 10,614,390.52 0.00 0.00 A3 42,572,000.00 42,572,000.00 0.00 0.00 0.00 0.00 A-SIO 0.00 0.00 0.00 0.00 0.00 0.00 M1 25,231,000.00 25,231,000.00 0.00 0.00 0.00 0.00 M2 23,129,000.00 23,129,000.00 0.00 0.00 0.00 0.00 M3 12,616,000.00 12,616,000.00 0.00 0.00 0.00 0.00 M4 14,719,000.00 14,719,000.00 0.00 0.00 0.00 0.00 M5 12,616,000.00 12,616,000.00 0.00 0.00 0.00 0.00 M6 10,514,000.00 10,514,000.00 0.00 0.00 0.00 0.00 M7 8,410,000.00 8,410,000.00 0.00 0.00 0.00 0.00 M8 10,514,000.00 10,514,000.00 0.00 0.00 0.00 0.00 B 10,514,000.00 10,514,000.00 0.00 0.00 0.00 0.00 X 4,203,335.74 4,203,335.74 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 841,054,435.74 818,386,504.49 0.00 22,880,953.59 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 12,266,563.07 394,075,230.07 0.94559143 12,266,563.07 A2 10,614,390.52 226,391,885.09 0.90823412 10,614,390.52 A3 0.00 42,572,000.00 1.00000000 0.00 A-SIO 0.00 0.00 0.00000000 0.00 M1 0.00 25,231,000.00 1.00000000 0.00 M2 0.00 23,129,000.00 1.00000000 0.00 M3 0.00 12,616,000.00 1.00000000 0.00 M4 0.00 14,719,000.00 1.00000000 0.00 M5 0.00 12,616,000.00 1.00000000 0.00 M6 0.00 10,514,000.00 1.00000000 0.00 M7 0.00 8,410,000.00 1.00000000 0.00 M8 0.00 10,514,000.00 1.00000000 0.00 B 0.00 10,514,000.00 1.00000000 0.00 X 0.00 4,203,335.74 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 22,880,953.59 795,505,550.90 0.94584312 22,880,953.59
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 416,750,000.00 975.02529848 0.00000000 29.43386460 0.00000000 A2 249,266,000.00 950.81670027 0.00000000 42.58258455 0.00000000 A3 42,572,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-SIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 25,231,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 23,129,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 12,616,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 14,719,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 12,616,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 10,514,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 8,410,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M8 10,514,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 10,514,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 4,203,335.74 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 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 29.43386460 945.59143388 0.94559143 29.43386460 A2 0.00000000 42.58258455 908.23411572 0.90823412 42.58258455 A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-SIO 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 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 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 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 416,750,000.00 1.71000% 406,341,793.14 579,037.06 0.00 0.00 A2 249,266,000.00 1.63000% 237,006,275.61 321,933.52 0.00 0.00 A3 42,572,000.00 1.95000% 42,572,000.00 69,179.50 0.00 0.00 A-SIO 0.00 0.00000% 832,694,951.10 0.00 0.00 0.00 M1 25,231,000.00 1.98000% 25,231,000.00 41,631.15 0.00 0.00 M2 23,129,000.00 2.00000% 23,129,000.00 38,548.33 0.00 0.00 M3 12,616,000.00 2.07000% 12,616,000.00 21,762.60 0.00 0.00 M4 14,719,000.00 2.43000% 14,719,000.00 29,805.97 0.00 0.00 M5 12,616,000.00 2.60000% 12,616,000.00 27,334.67 0.00 0.00 M6 10,514,000.00 2.93000% 10,514,000.00 25,671.68 0.00 0.00 M7 8,410,000.00 3.45000% 8,410,000.00 24,178.75 0.00 0.00 M8 10,514,000.00 3.85000% 10,514,000.00 33,732.42 0.00 0.00 B 10,514,000.00 3.95000% 10,514,000.00 34,608.58 0.00 0.00 X 4,203,335.74 0.00000% 818,386,504.49 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 841,054,435.74 1,247,424.23 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) 0.00 579,037.08 0.00 394,075,230.07 A2 (0.01) 0.00 321,933.54 0.00 226,391,885.09 A3 0.00 0.00 69,179.50 0.00 42,572,000.00 A-SIO 0.00 0.00 0.00 0.00 818,386,504.49 M1 0.00 0.00 41,631.15 0.00 25,231,000.00 M2 0.00 0.00 38,548.33 0.00 23,129,000.00 M3 0.00 0.00 21,762.60 0.00 12,616,000.00 M4 0.00 0.00 29,805.98 0.00 14,719,000.00 M5 0.00 0.00 27,334.67 0.00 12,616,000.00 M6 0.00 0.00 25,671.68 0.00 10,514,000.00 M7 0.00 0.00 24,178.75 0.00 8,410,000.00 M8 0.00 0.00 33,732.42 0.00 10,514,000.00 B 0.00 0.00 34,608.58 0.00 10,514,000.00 X 0.00 0.00 3,209,697.47 0.00 795,505,550.90 P 0.00 0.00 264,745.53 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals (0.03) 0.00 4,721,867.28 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 416,750,000.00 1.71000% 975.02529848 1.38941106 0.00000000 0.00000000 A2 249,266,000.00 1.63000% 950.81670027 1.29152600 0.00000000 0.00000000 A3 42,572,000.00 1.95000% 1000.00000000 1.62500000 0.00000000 0.00000000 A-SIO 0.00 0.00000% 990.06070917 0.00000000 0.00000000 0.00000000 M1 25,231,000.00 1.98000% 1000.00000000 1.65000000 0.00000000 0.00000000 M2 23,129,000.00 2.00000% 1000.00000000 1.66666652 0.00000000 0.00000000 M3 12,616,000.00 2.07000% 1000.00000000 1.72500000 0.00000000 0.00000000 M4 14,719,000.00 2.43000% 1000.00000000 2.02499966 0.00000000 0.00000000 M5 12,616,000.00 2.60000% 1000.00000000 2.16666693 0.00000000 0.00000000 M6 10,514,000.00 2.93000% 1000.00000000 2.44166635 0.00000000 0.00000000 M7 8,410,000.00 3.45000% 1000.00000000 2.87500000 0.00000000 0.00000000 M8 10,514,000.00 3.85000% 1000.00000000 3.20833365 0.00000000 0.00000000 B 10,514,000.00 3.95000% 1000.00000000 3.29166635 0.00000000 0.00000000 X 4,203,335.74 0.00000% 194699.29482483 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 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 (0.00000005) 0.00000000 1.38941111 0.00000000 945.59143388 A2 (0.00000004) 0.00000000 1.29152608 0.00000000 908.23411572 A3 0.00000000 0.00000000 1.62500000 0.00000000 1000.00000000 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 973.04819963 M1 0.00000000 0.00000000 1.65000000 0.00000000 1000.00000000 M2 0.00000000 0.00000000 1.66666652 0.00000000 1000.00000000 M3 0.00000000 0.00000000 1.72500000 0.00000000 1000.00000000 M4 0.00000000 0.00000000 2.02500034 0.00000000 1000.00000000 M5 0.00000000 0.00000000 2.16666693 0.00000000 1000.00000000 M6 0.00000000 0.00000000 2.44166635 0.00000000 1000.00000000 M7 0.00000000 0.00000000 2.87500000 0.00000000 1000.00000000 M8 0.00000000 0.00000000 3.20833365 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.29166635 0.00000000 1000.00000000 X 0.00000000 0.00000000 763.60720831 0.00000000 189255.77210732 P 0.00000000 0.00000000 2647455.30000000 0.00000000 1000.00000000 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 28,257,778.60 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) 0.00 Prepayment Penalties 0.00 Total Deposits 28,257,778.60 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 654,957.73 Payment of Interest and Principal 27,602,820.87 Total Withdrawals (Pool Distribution Amount) 28,257,778.60 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 340,994.43 Credit Risk Manager's Fee 10,229.83 PMI Insurance Premium Fee 303,051.46 Securities Administrator Fee 682.01 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 654,957.73
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 230,796.45 230,796.45 1,000.00
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 1 0 0 1 17,477.48 0.00 0.00 17,477.48 30 Days 94 0 1 0 95 17,312,752.63 0.00 587,026.73 0.00 17,899,779.36 60 Days 18 0 2 0 20 3,119,569.80 0.00 497,871.21 0.00 3,617,441.01 90 Days 11 0 0 0 11 2,007,774.70 0.00 0.00 0.00 2,007,774.70 120 Days 5 0 0 0 5 707,150.00 0.00 0.00 0.00 707,150.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 128 1 3 0 132 23,147,247.13 17,477.48 1,084,897.94 0.00 24,249,622.55 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 0.023084% 0.000000% 0.000000% 0.023084% 0.002196% 0.000000% 0.000000% 0.002196% 30 Days 2.169898% 0.000000% 0.023084% 0.000000% 2.192982% 2.175039% 0.000000% 0.073749% 0.000000% 2.248789% 60 Days 0.415512% 0.000000% 0.046168% 0.000000% 0.461681% 0.391918% 0.000000% 0.062549% 0.000000% 0.454467% 90 Days 0.253924% 0.000000% 0.000000% 0.000000% 0.253924% 0.252241% 0.000000% 0.000000% 0.000000% 0.252241% 120 Days 0.115420% 0.000000% 0.000000% 0.000000% 0.115420% 0.088841% 0.000000% 0.000000% 0.000000% 0.088841% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.954755% 0.023084% 0.069252% 0.000000% 3.047091% 2.908040% 0.002196% 0.136298% 0.000000% 3.046533%
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 1 0 0 1 17,477.48 0.00 0.00 17,477.48 30 Days 11 0 0 0 11 814,077.20 0.00 0.00 0.00 814,077.20 60 Days 3 0 0 0 3 179,320.83 0.00 0.00 0.00 179,320.83 90 Days 1 0 0 0 1 64,600.00 0.00 0.00 0.00 64,600.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 15 1 0 0 16 1,057,998.03 17,477.48 0.00 0.00 1,075,475.51 0-29 Days 0.134048% 0.000000% 0.000000% 0.134048% 0.022377% 0.000000% 0.000000% 0.022377% 30 Days 1.474531% 0.000000% 0.000000% 0.000000% 1.474531% 1.042287% 0.000000% 0.000000% 0.000000% 1.042287% 60 Days 0.402145% 0.000000% 0.000000% 0.000000% 0.402145% 0.229590% 0.000000% 0.000000% 0.000000% 0.229590% 90 Days 0.134048% 0.000000% 0.000000% 0.000000% 0.134048% 0.082709% 0.000000% 0.000000% 0.000000% 0.082709% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.010724% 0.134048% 0.000000% 0.000000% 2.144772% 1.354586% 0.022377% 0.000000% 0.000000% 1.376963% 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 45 0 0 0 45 8,269,102.75 0.00 0.00 0.00 8,269,102.75 60 Days 8 0 1 0 9 1,457,129.50 0.00 129,879.21 0.00 1,587,008.71 90 Days 6 0 0 0 6 787,998.48 0.00 0.00 0.00 787,998.48 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 59 0 1 0 60 10,514,230.73 0.00 129,879.21 0.00 10,644,109.94 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.946367% 0.000000% 0.000000% 0.000000% 1.946367% 2.097918% 0.000000% 0.000000% 0.000000% 2.097918% 60 Days 0.346021% 0.000000% 0.043253% 0.000000% 0.389273% 0.369682% 0.000000% 0.032951% 0.000000% 0.402633% 90 Days 0.259516% 0.000000% 0.000000% 0.000000% 0.259516% 0.199920% 0.000000% 0.000000% 0.000000% 0.199920% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.551903% 0.000000% 0.043253% 0.000000% 2.595156% 2.667520% 0.000000% 0.032951% 0.000000% 2.700471% 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 9 0 0 0 9 1,550,879.72 0.00 0.00 0.00 1,550,879.72 60 Days 1 0 0 0 1 55,756.89 0.00 0.00 0.00 55,756.89 90 Days 1 0 0 0 1 439,759.66 0.00 0.00 0.00 439,759.66 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 11 0 0 0 11 2,046,396.27 0.00 0.00 0.00 2,046,396.27 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 3.169014% 0.000000% 0.000000% 0.000000% 3.169014% 2.955520% 0.000000% 0.000000% 0.000000% 2.955520% 60 Days 0.352113% 0.000000% 0.000000% 0.000000% 0.352113% 0.106256% 0.000000% 0.000000% 0.000000% 0.106256% 90 Days 0.352113% 0.000000% 0.000000% 0.000000% 0.352113% 0.838053% 0.000000% 0.000000% 0.000000% 0.838053% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.873239% 0.000000% 0.000000% 0.000000% 3.873239% 3.899829% 0.000000% 0.000000% 0.000000% 3.899829% 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 29 0 1 0 30 6,678,692.96 0.00 587,026.73 0.00 7,265,719.69 60 Days 6 0 1 0 7 1,427,362.58 0.00 367,992.00 0.00 1,795,354.58 90 Days 3 0 0 0 3 715,416.56 0.00 0.00 0.00 715,416.56 120 Days 5 0 0 0 5 707,150.00 0.00 0.00 0.00 707,150.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 43 0 2 0 45 9,528,622.10 0.00 955,018.73 0.00 10,483,640.83 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.929293% 0.000000% 0.101010% 0.000000% 3.030303% 2.462302% 0.000000% 0.216425% 0.000000% 2.678727% 60 Days 0.606061% 0.000000% 0.101010% 0.000000% 0.707071% 0.526240% 0.000000% 0.135671% 0.000000% 0.661912% 90 Days 0.303030% 0.000000% 0.000000% 0.000000% 0.303030% 0.263760% 0.000000% 0.000000% 0.000000% 0.263760% 120 Days 0.505051% 0.000000% 0.000000% 0.000000% 0.505051% 0.260712% 0.000000% 0.000000% 0.000000% 0.260712% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 4.343434% 0.000000% 0.202020% 0.000000% 4.545455% 3.513014% 0.000000% 0.352097% 0.000000% 3.865111%
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 7.147158% Weighted Average Net Coupon 6.647158% Weighted Average Pass-Through Rate 6.201794% Weighted Average Maturity(Stepdown Calculation ) 349 Beginning Scheduled Collateral Loan Count 4,437 Number Of Loans Paid In Full 105 Ending Scheduled Collateral Loan Count 4,332 Beginning Scheduled Collateral Balance 818,386,504.49 Ending Scheduled Collateral Balance 795,505,550.90 Ending Actual Collateral Balance at 31-Jul-2004 795,974,270.93 Monthly P &I Constant 5,388,215.17 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 795,505,550.90 Scheduled Principal 513,933.89 Unscheduled Principal 22,367,019.70
Miscellaneous Reporting Monthly Excess Cash 2,971,899.42 Overcollateralization Amount 4,203,435.74 Overcollateralization Deficiency 0.00 Targeted Overcollateralization Amount 4,203,435.74 Cap Payment 237,798.09
Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.754555 7.198205 7.433766 Weighted Average Net Rate 7.254554 6.698205 6.933766 Weighted Average Maturity 349 349 347 Beginning Loan Count 761 2,368 293 Loans Paid In Full 15 56 9 Ending Loan Count 746 2,312 284 Beginning Scheduled Balance 79,412,022.07 404,838,882.08 54,323,421.16 Ending scheduled Balance 78,054,201.84 393,930,139.24 52,439,015.12 Record Date 07/31/2004 07/31/2004 07/31/2004 Principal And Interest Constant 579,912.09 2,681,056.93 380,429.13 Scheduled Principal 66,741.37 252,629.11 43,906.14 Unscheduled Principal 1,291,078.86 10,656,113.73 1,840,499.90 Scheduled Interest 513,170.72 2,428,427.82 336,522.99 Servicing Fees 33,088.37 168,682.88 22,634.73 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 25,451.79 143,561.61 13,987.33 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 454,630.56 2,116,183.33 299,900.93 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 6.869951 6.272668 6.624786
Group Level Collateral Statement Group 2(B) Total Collateral Description Mixed ARM Mixed & ARM & Balloon Weighted Average Coupon Rate 6.845276 7.147158 Weighted Average Net Rate 6.345276 6.647158 Weighted Average Maturity 347 349 Beginning Loan Count 1,015 4,437 Loans Paid In Full 25 105 Ending Loan Count 990 4,332 Beginning Scheduled Balance 279,812,179.18 818,386,504.49 Ending scheduled Balance 271,082,194.70 795,505,550.90 Record Date 07/31/2004 07/31/2004 Principal And Interest Constant 1,746,817.02 5,388,215.17 Scheduled Principal 150,657.27 513,933.89 Unscheduled Principal 8,579,327.21 22,367,019.70 Scheduled Interest 1,596,159.75 4,874,281.28 Servicing Fees 116,588.45 340,994.43 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 120,732.74 303,733.47 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 1,358,838.56 4,229,553.38 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 5.827503 6.201794
EX-99.2
theMurrayhillcompany SAIL 2004-5 Credit Risk Manager Report July 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 Analytics Section One Transaction Summary theMurrayhillcompany SAIL 2004-5 Transaction Summary July 2004 Transaction Summary Closing Date : 5/28/2004 Depositor: Structured Asset Securities Corporation Trustee: Wells Fargo Bank, N.A. Securities Administrator: Wells Fargo Master Servicer: Aurora Loan Services Master Servicing Servicer(s): Aurora Loan Services, Chase Manhattan Mortgage Corp., IndyMac Bank, Wells Fargo Mortgage Insurer(s): Mortgage Guaranty Insurance Corporation Delinquency Reporting Method: OTS1 Collateral Summary Closing Date 6/30/20042 6/30/2004 as a Percentage of Closing Date Collateral Balance $ 841,054,435 $ 790,456,630 93.98 % Loan Count 4,539 4,319 95.15 % Collateral Statistics Loan Count Summed Balance Repurchases3 0 $ 0 First Payment Defaults 7 $ 982,000 Early Payment Defaults 4 45 $ 8,013,009 Multiple Loans to One Borrower 6 $ 797,080 Second Lien Statistics Loan Count Summed Balance Outstanding Second Lien Loans 388 $ 21,951,728 30 Days Delinquent 3 $ 146,694 60 Days Delinquent 0 $ 0 90+ Days Delinquent 0 $ 0 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 (C) 2004 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for SAIL 2004-5 Mortgage Data Through: June 30, 2004 Section 1: Prepayment premiums collected by the servicers and remitted to the trustee. This information is reported to Murrayhill by the servicers each month. Trustee Remittance Date 25-Jul-04 25-Jun-04 TOTAL $212,633 $54,048 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 Class 25-Jul-04 25-Jun-04 P Class $212,633 $54,048 Section 3: Reconciliation of the amounts remitted by the servicer to the trustee, and the amount remitted to the P Class by the trustee. Amount remitted by servicer: $212,633 Amount remitted to the P Class: $212,633 Difference: $0 In the 7/25/04, one servicer reported six loans as paid in full and had prepayments premiums remitted in SAIL 2004-5; however, these loans have been reported under different investor numbers. Murrayhill has inquired with the servicer regarding these loans and will ensure that the premiums remitted were remitted to the appropriate security. Aggregate Paid Off Loans Report for SAIL 2004-5 Mortgage Data Through: June 30, 2004 Trustee Remittance Date 25-Jul-04 25-Jun-04 Loans with Active Prepayment Flags that Remitted 37 10 Premiums ( A ) Loans without Prepayment Flags that 0 0 Remitted Premiums Total Loans that Remitted Premiums ( B ) 37 10 Loans with Active Prepayment Flags ( C ) 37 12 Loans without Prepayment Flags that 0 0 Remitted Premiums Subtotal ( D ) 37 12 Premiums Remitted with Active Prepayment 100.0% 83.3% Flags (A/C) Total Loans that Remitted Premiums to the 100.0% 83.3% Subtotal (B/D ) Total Paid Off Loans ( E ) 62 42 Total Loans that Remitted Premiums to the Total Paid Off 59.7% 23.8% Loans ( B/E ) Paid Off Loans Exception Report for SAIL 2004-5 Mortgage Data Through: June 30, 2004 Total Total Paid Off Loans with Flags 38 Less Exceptions: Loans with Expired Prepayment Clauses (as stated in the Note)* 0 Loans that Contained a Clause Allowing Prepayment Premiums to be Waived at the Time of Liquidation* 1 Repurchased/Service Transferred Loans* 0 Loans that Liquidated from REO* 0 Loans with Discrepancies between the Data File and the Note 0 Defaulted Liquidated Loans that Could Not Have Collected Premiums because of the Acceleration of the Debt* 0 Loans that Liquidated Through Loss Mitigation Efforts* 0 Total Paid Off Loans with Active Prepayment Flags (C) 37 Other Exceptions: Paid Off Loans that Did Not Collect Premiums because of State Statutes 0 Paid Off Loans with Active Prepayment Flags that Have Not Remitted Premiums 0 * These categories are mutually exclusive. Paid off Loans With Prepayment Flags for SAIL 2004-5 Mortgage Data Through: June 30, 2004 Loan number Delinquency Origination PPP Exp. Date Payoff String Date Flag Balance 4889182 C0 12/22/03 1 12/22/04 $87,929 4889231 C0 12/30/03 1 12/30/04 $219,787 4889924 C0 1/14/04 2 1/14/06 $184,617 4889858 C0 12/24/03 2 12/24/05 $242,156 4890389 C0 2/20/04 2 2/20/06 $269,583 4887690 C0 2/6/04 2 2/6/06 $129,666 4890610 C0 1/30/04 2 1/30/06 $351,834 4890563 C0 1/27/04 2 1/27/06 $221,722 4890547 C0 1/27/04 2 1/27/06 $152,730 4888299 C0 1/16/04 2 1/16/06 $343,303 4888916 C0 1/15/04 2 1/15/06 $319,127 4887658 C0 1/9/04 2 1/9/06 $143,440 4888387 C0 1/5/04 2 1/5/06 $50,298 4889288 C0 12/15/03 2 12/15/05 $175,596 4889312 C0 9/30/03 2 9/30/05 $246,859 4889282 C0 9/10/03 2 9/10/05 $114,311 4890079 C0 2/27/04 2 2/27/06 $131,520 4886956 C0 2/27/04 2 2/27/06 $365,656 4887156 C0 2/25/04 2 2/25/06 $250,005 4887083 0 2/23/04 2 2/23/06 $88,860 4889523 0 2/23/04 2 2/23/06 $77,782 4890286 C0 2/20/04 2 2/20/06 $368,477 4887040 C0 2/18/04 2 2/18/06 $102,019 4886691 C0 2/13/04 2 2/13/06 $119,830 4890295 0 2/10/04 2 2/10/06 $317,357 4889656 C0 2/20/04 3 2/20/07 $275,750 4887830 C0 2/25/04 3 2/25/07 $99,565 4889341 C0 2/23/04 3 2/23/07 $379,200 4889364 C0 2/23/04 3 2/23/07 $94,728 4888516 30 1/30/04 3 1/30/07 $101,425 4888445 C0 1/13/04 3 1/13/07 $188,264 4890688 C0 1/12/04 3 1/12/07 $222,368 4889255 C0 11/4/03 3 11/4/06 $358,539 4889619 C0 2/28/04 3 2/28/07 $72,072 4889592 C0 2/28/04 3 2/28/07 $384,058 4886569 0 2/26/04 3 2/26/07 $123,774 4888979 0 2/12/04 3 2/12/07 $109,249 4889206 C0 12/19/03 5 12/19/08 $96,587 Paid off Loans With Prepayment Flags for SAIL 2004-5 Mortgage Data Through: June 30, 2004 (Cont.) Loan Number PPP Remitted % of PPP PPP Comments Premium to Collected, Collected, Payoff w/Flag No Flag Balance 4889182 - 0% Loan documents contained a sale clause 4889231 $6,912 3% 4889924 $5,823 3% 4889858 $6,533 3% 4890389 $7,000 3% 4887690 $3,530 3% 4890610 $9,493 3% 4890563 $6,781 3% 4890547 $5,343 3% 4888299 $10,980 3% 4888916 $8,292 3% 4887658 $4,520 3% 4888387 $2,111 4% 4889288 $6,475 4% 4889312 $5,323 2% 4889282 $3,929 3% 4890079 $3,527 3% 4886956 $12,711 3% 4887156 $9,560 4% 4887083 $3,285 4% 4889523 $779 1% 4890286 $11,429 3% 4887040 $3,368 3% 4886691 $3,717 3% 4890295 $8,065 3% 4889656 $7,160 3% 4887830 $2,384 2% 4889341 $10,731 3% 4889364 $4,073 4% 4888516 $3,062 3% 4888445 $1,883 1% 4890688 $6,666 3% 4889255 $10,980 3% 4889619 $2,149 3% 4889592 $3,832 1% 4886569 $4,256 3% 4888979 $3,224 3% 4889206 $2,748 3% (C) 2004 The Murrayhill Company. All Rights Reserved. Section Three Analytics FICO Distribution by SAIL 2004-5 FICO Distribution by Status Mortgage Data Through: June 30, 2004 FICO Delinquency Percentage 500 Current 0.01 500 Delinquent 0.036 500 Paid Off 0.022 510 Current 0.024 510 Delinquent 0.054 510 Paid Off 0.022 520 Current 0.024 520 Delinquent 0.036 520 Paid Off 0.011 530 Current 0.032 530 Delinquent 0.071 530 Paid Off 0.022 540 Current 0.038 540 Delinquent 0.036 540 Paid Off 0.011 550 Current 0.035 550 Delinquent 0.018 550 Paid Off 0.022 560 Current 0.041 560 Delinquent 0.036 560 Paid Off 0.044 570 Current 0.033 570 Paid Off 0.033 580 Current 0.034 580 Delinquent 0.089 580 Paid Off 0.022 590 Current 0.04 590 Paid Off 0.067 600 Current 0.045 600 Delinquent 0.036 600 Paid Off 0.067 610 Current 0.046 610 Delinquent 0.036 610 Paid Off 0.078 620 Current 0.053 620 Delinquent 0.018 620 Paid Off 0.022 630 Current 0.064 630 Delinquent 0.143 630 Paid Off 0.067 640 Current 0.062 640 Delinquent 0.089 640 Paid Off 0.033 650 Current 0.06 650 Delinquent 0.036 650 Paid Off 0.1 660 Current 0.057 660 Delinquent 0.054 660 Paid Off 0.078 670 Current 0.052 670 Delinquent 0.036 670 Paid Off 0.022 680 Current 0.044 680 Delinquent 0.036 680 Paid Off 0.056 690 Current 0.042 690 Paid Off 0.044 700 Current 0.034 700 Paid Off 0.067 710 Current 0.031 710 Paid Off 0.044 720 Current 0.023 720 Delinquent 0.018 720 Paid Off 0.011 730 Current 0.016 730 Delinquent 0.054 730 Paid Off 0.011 740 Current 0.013 740 Delinquent 0.036 750 Current 0.015 760 Current 0.011 760 Delinquent 0.018 760 Paid Off 0.022 770 Current 0.01 780 Current 0.005 790 Current 0.004 800 Current 0.001 800 Delinquent 0.018 Status # of Loans Average Std. Deviation Current 4,263 628 66.508 Delinquent 56 616 73.691 Paid Off 90 629 59.661 Total: 4,409 Loan to Value Distribution by Status SAIL 2004-5 Loan-to-Value Distribution by Status Mortgage Data Through: June 30, 2004 LTV Delinquency Percentage 0.1 Paid Off 0.011 0.1 Current 0.008 0.1 Delinquent 0.018 0.2 Current 0.083 0.2 Delinquent 0.036 0.2 Paid Off 0.056 0.3 Paid Off 0.011 0.3 Current 0.005 0.4 Paid Off 0.011 0.4 Current 0.014 0.5 Delinquent 0.018 0.5 Current 0.019 0.5 Paid Off 0.033 0.6 Current 0.048 0.6 Paid Off 0.033 0.7 Paid Off 0.1 0.7 Current 0.096 0.7 Delinquent 0.089 0.8 Paid Off 0.311 0.8 Delinquent 0.393 0.8 Current 0.357 0.9 Paid Off 0.3 0.9 Delinquent 0.232 0.9 Current 0.248 1 Delinquent 0.214 1 Current 0.122 1 Paid Off 0.133 Status # of Loans Average Std. Deviation Current 4,263 0.752 0.214 Delinquent 56 0.804 0.181 Paid Off 90 0.766 0.203 Total: 4,409 Balance Distribution by Status SAIL 2004-5 Balance Distribution by Status Mortgage Data Through: June 30, 2004 Balance Delinquency Percentage 0 Current 0 10000 Current 0.002 20000 Current 0.013 30000 Current 0.02 30000 Delinquent 0.018 40000 Current 0.024 50000 Current 0.027 50000 Delinquent 0.018 60000 Delinquent 0.089 60000 Current 0.036 70000 Delinquent 0.071 70000 Current 0.046 80000 Delinquent 0.036 80000 Current 0.044 90000 Current 0.042 90000 Delinquent 0.036 100000 Delinquent 0.018 100000 Current 0.046 110000 Current 0.04 110000 Delinquent 0.054 120000 Delinquent 0.018 120000 Current 0.044 130000 Delinquent 0.089 130000 Current 0.045 140000 Delinquent 0.054 140000 Current 0.039 150000 Current 0.04 150000 Delinquent 0.018 160000 Current 0.035 160000 Delinquent 0.036 170000 Delinquent 0.018 170000 Current 0.033 180000 Current 0.031 180000 Delinquent 0.054 190000 Current 0.027 190000 Delinquent 0.018 200000 Delinquent 0.018 200000 Current 0.03 210000 Delinquent 0.018 210000 Current 0.023 220000 Current 0.024 220000 Delinquent 0.036 230000 Current 0.018 230000 Delinquent 0.018 240000 Delinquent 0.018 240000 Current 0.018 250000 Delinquent 0.071 250000 Current 0.02 260000 Current 0.017 260000 Delinquent 0.018 270000 Current 0.017 280000 Current 0.013 290000 Current 0.015 290000 Delinquent 0.018 300000 Current 0.013 310000 Delinquent 0.018 310000 Current 0.013 320000 Current 0.014 330000 Current 0.011 340000 Current 0.016 350000 Current 0.014 350000 Delinquent 0.018 360000 Current 0.011 370000 Delinquent 0.036 370000 Current 0.007 380000 Current 0.005 390000 Current 0.005 400000 Current 0.006 410000 Current 0.005 420000 Current 0.004 430000 Current 0.004 440000 Delinquent 0.036 440000 Current 0.006 450000 Current 0.005 460000 Current 0.003 470000 Current 0.005 480000 Current 0.004 480000 Delinquent 0.018 490000 Current 0.003 500000 Current 0.004 510000 Current 0.001 510000 Delinquent 0.018 520000 Current 0.001 540000 Current 0.002 550000 Current 0.001 560000 Current 0.001 570000 Current 0.001 580000 Current 0 590000 Current 0.001 600000 Current 0 620000 Current 0.001 640000 Current 0.001 650000 Current 0.001 680000 Current 0 690000 Current 0 700000 Current 0 720000 Current 0 740000 Current 0 750000 Current 0 770000 Current 0 840000 Current 0 930000 Current 0 Status # of Loans Average Std. Deviation Current 4,263 183,049.11 119,439.44 Delinquent 56 180,683.29 115,512.39 Total: 4,319 Mortgage Type Distribution by Status SAIL 2004-5 Mortgage Type Distribution by Status Mortgage Data Through: June 30, 2004 Mortgage Type Delinquency Percentage Investment Home Current 0.127 Investment Home Delinquent 0.232 Investment Home Paid Off 0.211 Primary Home Current 0.863 Primary Home Delinquent 0.768 Primary Home Paid Off 0.789 Second Home Current 0.011 Mortgage Type Loan Count Total Balance Avg. Balance Std. Deviation ARM 3,352 658,849,795.10 196,554.23 118,872.94 Fixed 1,057 131,606,835.14 124,509.78 110,802.80 Total: 4,409 790,456,630.24 SAIL 2004-5 Mortgage Term Distribution by Status Mortgage Data Through: June 30, 2004 Mortgage Term Delinquency Percentage 120 Current 0 180 Current 0.086 180 Paid Off 0.078 180 Delinquent 0.071 240 Paid Off 0.022 240 Current 0.007 360 Delinquent 0.929 360 Paid Off 0.9 360 Current 0.906 # of Loans Other 120 180 240 360 4,409 0 2 378 33 3,996 Mortgage Purpose Distribution.txt SAIL 2004-5 Mortgage Purpose Distribution Mortgage Data Through: June 30, 2004 Origination Statistics Number of Loans: 4,539 PurposeNumber Percentage Cash-out refinance 2,301 50.7% Purchase 1,886 41.6% Rate/term 327 7.2% Home 24 0.5% Other 1 0.0% Total 4,539 100% Current Loans Number of Loans: 4,263 PurposeNumber Percentage Cash-out refinance 2,174 51.0% Purchase 1,754 41.1% Rate/term 310 7.3% Home 24 0.6% Other 1 0.0% Total 4,263 100% Delinquent Loans Number of Loans: 56 PurposeNumber Percentage Cash-out refinance 24 42.9% Purchase 28 50.0% Rate/term 4 7.1% Home 0 0.0% Other 0 0.0% Total 56 100% Paid Off Loans Number of Loans: 90 PurposeNumber Percentage Cash-out refinance 49 54.4% Purchase 35 38.9% Rate/term 6 6.7% Home 0 0.0% Other 0 0.0% Total 90 100% Ownership Distribution by Status SAIL 2004-5 Ownership Distribution by Status Mortgage Data Through: June 30, 2004 Ownership Type Delinquency Percentage Investment Home Current 0.127 Investment Home Delinquent 0.232 Investment Home Paid Off 0.211 Primary Home Current 0.863 Primary Home Delinquent 0.768 Primary Home Paid Off 0.789 Second Home Current 0.011 Title # of Loans Investment Home 572 Primary Home 3,792 Second Home 45 Total: 4,409 SAIL 2004-5 Delinquent Balance Over Time Mortgage Data Through: June 30, 2004 Total Balance in Status As Of Date 30 Days 60 Days 90 Days Foreclosure REO 6/30/2004 $ 7,285,752 $ 1,790,310 $ - $ 1,042,203 $ - 5/31/2004 $ 4,348,317 $ 116,450 $ - $ 707,150 $ - SAIL 2004-5 Delinquent Count Over Time Mortgage Data Through: June 30, 2004 Total Count in Status As Of Date 30 Days 60 Days 90 Days Foreclosure REO 6/30/2004 40 9 0 7 0 5/31/2004 27 1 0 5 0 Conditional Prepayment Rates SAIL 2004-5 Conditional Prepayment Rates Mortgage Data Through: June 30, 2004 Date * Distribution Date CPR 3-Month MA 6-Month MA 12-Month MA 30-Jun-04 25-Jul-04 18.20% 31-May-04 25-Jun-04 10.71% * Data in table is displayed for only the most recent 18 months. SDA Performance.txt SAIL 2004-5 Historical SDA Performance Mortgage Data Through: June 30, 2004 Weighted Monthly Date Average Age Default Amt Default Rate CDR (F-R) SDA Curve SDA % 30-Jun-04 4.48 $0 0.00% 0.00% 0.09% 0% 31-May-04 3.50 $0 0.00% 0.00% 0.07% 0% Averages: 3.99 $0 0.00% 0.00% 0.08% 0% (C) 2004 The Murrayhill Company. All Rights Reserved.
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