-----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, KioMLTNNDXOqgdN4Nvj4Ch2WAfNUyu3VFsFjouVjhvpJ/Z7TBDr0hxDK49OSuK6w 0Ois9CR31Yo6kRX3RBb9yA== 0001056404-04-003256.txt : 20041001 0001056404-04-003256.hdr.sgml : 20041001 20041001152002 ACCESSION NUMBER: 0001056404-04-003256 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040927 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041001 DATE AS OF CHANGE: 20041001 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: 041058372 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_sep.txt SEPTEMBER 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): September 27, 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 September 27, 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 September 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 2004-5 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: 9/27/04 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 September 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: 8/31/04 Distribution Date: 9/27/04 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 1.87500% 394,075,230.07 677,316.81 16,008,099.01 A2 86358EJB3 SEN 1.79500% 226,391,885.09 372,508.98 11,908,402.46 A3 86358EJC1 SEN 2.11500% 42,572,000.00 82,536.47 0.00 A-SIO 86358EJD9 IO 0.00000% 0.00 0.00 0.00 M1 86358EJE7 MEZ 2.14500% 25,231,000.00 49,610.45 0.00 M2 86358EJF4 MEZ 2.16500% 23,129,000.00 45,901.43 0.00 M3 86358EJG2 MEZ 2.23500% 12,616,000.00 25,847.03 0.00 M4 86358EJH0 MEZ 2.59500% 14,719,000.00 35,012.82 0.00 M5 86358EJJ6 MEZ 2.76500% 12,616,000.00 31,976.30 0.00 M6 86358EJK3 MEZ 3.09500% 10,514,000.00 29,829.09 0.00 M7 86358EJL1 MEZ 3.61500% 8,410,000.00 27,868.64 0.00 M8 86358EJM9 MEZ 4.01500% 10,514,000.00 38,695.90 0.00 B 86358EJN7 SUB 4.11500% 10,514,000.00 39,659.68 0.00 X SAI04005X RES 0.00000% 4,203,335.74 3,019,909.51 0.00 P SAI04005P SEN 0.00000% 100.00 453,995.16 0.00 R SAI4005R4 RES 0.00000% 0.00 0.00 0.00 Totals 795,505,550.90 4,930,668.27 27,916,501.47
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 378,067,131.06 16,685,415.82 0.00 A2 0.00 214,483,482.63 12,280,911.44 0.00 A3 0.00 42,572,000.00 82,536.47 0.00 A-SIO 0.00 0.00 0.00 0.00 M1 0.00 25,231,000.00 49,610.45 0.00 M2 0.00 23,129,000.00 45,901.43 0.00 M3 0.00 12,616,000.00 25,847.03 0.00 M4 0.00 14,719,000.00 35,012.82 0.00 M5 0.00 12,616,000.00 31,976.30 0.00 M6 0.00 10,514,000.00 29,829.09 0.00 M7 0.00 8,410,000.00 27,868.64 0.00 M8 0.00 10,514,000.00 38,695.90 0.00 B 0.00 10,514,000.00 39,659.68 0.00 X 0.00 4,203,335.74 3,019,909.51 0.00 P 0.00 100.00 453,995.16 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 767,589,049.43 32,847,169.74 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 416,750,000.00 394,075,230.07 0.00 16,008,099.01 0.00 0.00 A2 249,266,000.00 226,391,885.09 0.00 11,908,402.46 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 841,054,435.74 795,505,550.90 0.00 27,916,501.47 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 16,008,099.01 378,067,131.06 0.90717968 16,008,099.01 A2 11,908,402.46 214,483,482.63 0.86046024 11,908,402.46 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 27,916,501.47 767,589,049.43 0.91265085 27,916,501.47
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 416,750,000.00 945.59143388 0.00000000 38.41175527 0.00000000 A2 249,266,000.00 908.23411572 0.00000000 47.77387393 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 38.41175527 907.17967861 0.90717968 38.41175527 A2 0.00000000 47.77387393 860.46024179 0.86046024 47.77387393 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 1.87500% 394,075,230.07 677,316.80 0.00 0.00 A2 249,266,000.00 1.79500% 226,391,885.09 372,508.98 0.00 0.00 A3 42,572,000.00 2.11500% 42,572,000.00 82,536.47 0.00 0.00 A-SIO 0.00 0.00000% 818,386,504.49 0.00 0.00 0.00 M1 25,231,000.00 2.14500% 25,231,000.00 49,610.45 0.00 0.00 M2 23,129,000.00 2.16500% 23,129,000.00 45,901.43 0.00 0.00 M3 12,616,000.00 2.23500% 12,616,000.00 25,847.03 0.00 0.00 M4 14,719,000.00 2.59500% 14,719,000.00 35,012.82 0.00 0.00 M5 12,616,000.00 2.76500% 12,616,000.00 31,976.30 0.00 0.00 M6 10,514,000.00 3.09500% 10,514,000.00 29,829.09 0.00 0.00 M7 8,410,000.00 3.61500% 8,410,000.00 27,868.64 0.00 0.00 M8 10,514,000.00 4.01500% 10,514,000.00 38,695.90 0.00 0.00 B 10,514,000.00 4.11500% 10,514,000.00 39,659.68 0.00 0.00 X 4,203,335.74 0.00000% 795,505,550.90 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 1,456,763.59 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 (0.01) 0.00 677,316.81 0.00 378,067,131.06 A2 0.00 0.00 372,508.98 0.00 214,483,482.63 A3 0.00 0.00 82,536.47 0.00 42,572,000.00 A-SIO 0.00 0.00 0.00 0.00 795,505,550.90 M1 0.00 0.00 49,610.45 0.00 25,231,000.00 M2 0.00 0.00 45,901.43 0.00 23,129,000.00 M3 0.00 0.00 25,847.03 0.00 12,616,000.00 M4 0.00 0.00 35,012.82 0.00 14,719,000.00 M5 0.00 0.00 31,976.30 0.00 12,616,000.00 M6 0.00 0.00 29,829.09 0.00 10,514,000.00 M7 0.00 0.00 27,868.64 0.00 8,410,000.00 M8 0.00 0.00 38,695.90 0.00 10,514,000.00 B 0.00 0.00 39,659.68 0.00 10,514,000.00 X 0.00 0.00 3,019,909.51 0.00 767,589,049.43 P 0.00 0.00 453,995.16 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals (0.01) 0.00 4,930,668.27 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 1.87500% 945.59143388 1.62523527 0.00000000 0.00000000 A2 249,266,000.00 1.79500% 908.23411572 1.49442355 0.00000000 0.00000000 A3 42,572,000.00 2.11500% 1000.00000000 1.93875012 0.00000000 0.00000000 A-SIO 0.00 0.00000% 973.04819963 0.00000000 0.00000000 0.00000000 M1 25,231,000.00 2.14500% 1000.00000000 1.96624985 0.00000000 0.00000000 M2 23,129,000.00 2.16500% 1000.00000000 1.98458342 0.00000000 0.00000000 M3 12,616,000.00 2.23500% 1000.00000000 2.04875000 0.00000000 0.00000000 M4 14,719,000.00 2.59500% 1000.00000000 2.37874992 0.00000000 0.00000000 M5 12,616,000.00 2.76500% 1000.00000000 2.53458307 0.00000000 0.00000000 M6 10,514,000.00 3.09500% 1000.00000000 2.83708294 0.00000000 0.00000000 M7 8,410,000.00 3.61500% 1000.00000000 3.31375030 0.00000000 0.00000000 M8 10,514,000.00 4.01500% 1000.00000000 3.68041659 0.00000000 0.00000000 B 10,514,000.00 4.11500% 1000.00000000 3.77208294 0.00000000 0.00000000 X 4,203,335.74 0.00000% 189255.77210732 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 (0.00000002) 0.00000000 1.62523530 0.00000000 907.17967861 A2 0.00000000 0.00000000 1.49442355 0.00000000 860.46024179 A3 0.00000000 0.00000000 1.93875012 0.00000000 1000.00000000 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 945.84311918 M1 0.00000000 0.00000000 1.96624985 0.00000000 1000.00000000 M2 0.00000000 0.00000000 1.98458342 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.04875000 0.00000000 1000.00000000 M4 0.00000000 0.00000000 2.37874992 0.00000000 1000.00000000 M5 0.00000000 0.00000000 2.53458307 0.00000000 1000.00000000 M6 0.00000000 0.00000000 2.83708294 0.00000000 1000.00000000 M7 0.00000000 0.00000000 3.31375030 0.00000000 1000.00000000 M8 0.00000000 0.00000000 3.68041659 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.77208294 0.00000000 1000.00000000 X 0.00000000 0.00000000 718.45545938 0.00000000 182614.26088938 P 0.00000000 0.00000000 4539951.60000000 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 33,484,703.61 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 33,484,703.61 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 637,533.87 Payment of Interest and Principal 32,847,169.74 Total Withdrawals (Pool Distribution Amount) 33,484,703.61 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 (0.01)
SERVICING FEES Gross Servicing Fee 331,460.66 Credit Risk Manager's Fee 9,943.82 PMI Insurance Premium Fee 295,466.44 Securities Administrator Fee 662.95 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 637,533.87
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 360,381.63 360,381.63 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 3 0 0 3 211,934.84 0.00 0.00 211,934.84 30 Days 71 1 0 0 72 12,651,299.12 104,788.55 0.00 0.00 12,756,087.67 60 Days 37 0 11 0 48 6,615,193.62 0.00 2,532,875.36 0.00 9,148,068.98 90 Days 5 0 10 0 15 1,241,994.04 0.00 1,497,171.95 0.00 2,739,165.99 120 Days 2 0 8 0 10 568,464.31 0.00 1,233,830.08 0.00 1,802,294.39 150 Days 0 0 3 2 5 0.00 0.00 576,650.00 130,500.00 707,150.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 115 4 32 2 153 21,076,951.09 316,723.39 5,840,527.39 130,500.00 27,364,701.87 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 0.071429% 0.000000% 0.000000% 0.071429% 0.027593% 0.000000% 0.000000% 0.027593% 30 Days 1.690476% 0.023810% 0.000000% 0.000000% 1.714286% 1.647157% 0.013643% 0.000000% 0.000000% 1.660800% 60 Days 0.880952% 0.000000% 0.261905% 0.000000% 1.142857% 0.861276% 0.000000% 0.329772% 0.000000% 1.191048% 90 Days 0.119048% 0.000000% 0.238095% 0.000000% 0.357143% 0.161704% 0.000000% 0.194927% 0.000000% 0.356630% 120 Days 0.047619% 0.000000% 0.190476% 0.000000% 0.238095% 0.074012% 0.000000% 0.160641% 0.000000% 0.234653% 150 Days 0.000000% 0.000000% 0.071429% 0.047619% 0.119048% 0.000000% 0.000000% 0.075078% 0.016991% 0.092069% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.738095% 0.095238% 0.761905% 0.047619% 3.642857% 2.744149% 0.041236% 0.760417% 0.016991% 3.562794%
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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 10 0 0 0 10 1,404,729.24 0.00 0.00 0.00 1,404,729.24 60 Days 3 0 1 0 4 196,984.57 0.00 74,842.10 0.00 271,826.67 90 Days 2 0 1 0 3 117,381.11 0.00 61,939.72 0.00 179,320.83 120 Days 0 0 1 0 1 0.00 0.00 64,600.00 0.00 64,600.00 150 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 0 3 0 18 1,719,094.92 0.00 201,381.82 0.00 1,920,476.74 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.366120% 0.000000% 0.000000% 0.000000% 1.366120% 1.828715% 0.000000% 0.000000% 0.000000% 1.828715% 60 Days 0.409836% 0.000000% 0.136612% 0.000000% 0.546448% 0.256440% 0.000000% 0.097432% 0.000000% 0.353871% 90 Days 0.273224% 0.000000% 0.136612% 0.000000% 0.409836% 0.152810% 0.000000% 0.080635% 0.000000% 0.233445% 120 Days 0.000000% 0.000000% 0.136612% 0.000000% 0.136612% 0.000000% 0.000000% 0.084098% 0.000000% 0.084098% 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 2.049180% 0.000000% 0.409836% 0.000000% 2.459016% 2.237965% 0.000000% 0.262164% 0.000000% 2.500130% 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 2 0 0 2 135,659.75 0.00 0.00 135,659.75 30 Days 38 1 0 0 39 7,782,307.23 104,788.55 0.00 0.00 7,887,095.78 60 Days 18 0 3 0 21 2,955,027.60 0.00 349,691.51 0.00 3,304,719.11 90 Days 0 0 5 0 5 0.00 0.00 764,490.58 0.00 764,490.58 120 Days 0 0 5 0 5 0.00 0.00 600,848.48 0.00 600,848.48 150 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 56 3 13 0 72 10,737,334.83 240,448.30 1,715,030.57 0.00 12,692,813.70 0-29 Days 0.089606% 0.000000% 0.000000% 0.089606% 0.035752% 0.000000% 0.000000% 0.035752% 30 Days 1.702509% 0.044803% 0.000000% 0.000000% 1.747312% 2.050972% 0.027616% 0.000000% 0.000000% 2.078589% 60 Days 0.806452% 0.000000% 0.134409% 0.000000% 0.940860% 0.778777% 0.000000% 0.092159% 0.000000% 0.870935% 90 Days 0.000000% 0.000000% 0.224014% 0.000000% 0.224014% 0.000000% 0.000000% 0.201476% 0.000000% 0.201476% 120 Days 0.000000% 0.000000% 0.224014% 0.000000% 0.224014% 0.000000% 0.000000% 0.158349% 0.000000% 0.158349% 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 2.508961% 0.134409% 0.582437% 0.000000% 3.225806% 2.829749% 0.063368% 0.451984% 0.000000% 3.345102% 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 1 0 0 1 76,275.09 0.00 0.00 76,275.09 30 Days 2 0 0 0 2 308,190.99 0.00 0.00 0.00 308,190.99 60 Days 2 0 2 0 4 204,452.47 0.00 379,049.58 0.00 583,502.05 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 1 0 0 0 1 439,759.66 0.00 0.00 0.00 439,759.66 150 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 5 1 2 0 8 952,403.12 76,275.09 379,049.58 0.00 1,407,727.79 0-29 Days 0.353357% 0.000000% 0.000000% 0.353357% 0.148101% 0.000000% 0.000000% 0.148101% 30 Days 0.706714% 0.000000% 0.000000% 0.000000% 0.706714% 0.598407% 0.000000% 0.000000% 0.000000% 0.598407% 60 Days 0.706714% 0.000000% 0.706714% 0.000000% 1.413428% 0.396980% 0.000000% 0.735991% 0.000000% 1.132972% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.353357% 0.000000% 0.000000% 0.000000% 0.353357% 0.853871% 0.000000% 0.000000% 0.000000% 0.853871% 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 1.766784% 0.353357% 0.706714% 0.000000% 2.826855% 1.849258% 0.148101% 0.735991% 0.000000% 2.733350% 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 21 0 0 0 21 3,156,071.66 0.00 0.00 0.00 3,156,071.66 60 Days 14 0 5 0 19 3,258,728.98 0.00 1,729,292.17 0.00 4,988,021.15 90 Days 3 0 4 0 7 1,124,612.93 0.00 670,741.65 0.00 1,795,354.58 120 Days 1 0 2 0 3 128,704.65 0.00 568,381.60 0.00 697,086.25 150 Days 0 0 3 2 5 0.00 0.00 576,650.00 130,500.00 707,150.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 39 0 14 2 55 7,668,118.22 0.00 3,545,065.42 130,500.00 11,343,683.64 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.203568% 0.000000% 0.000000% 0.000000% 2.203568% 1.212443% 0.000000% 0.000000% 0.000000% 1.212443% 60 Days 1.469045% 0.000000% 0.524659% 0.000000% 1.993704% 1.251880% 0.000000% 0.664328% 0.000000% 1.916208% 90 Days 0.314795% 0.000000% 0.419727% 0.000000% 0.734523% 0.432033% 0.000000% 0.257673% 0.000000% 0.689707% 120 Days 0.104932% 0.000000% 0.209864% 0.000000% 0.314795% 0.049443% 0.000000% 0.218351% 0.000000% 0.267794% 150 Days 0.000000% 0.000000% 0.314795% 0.209864% 0.524659% 0.000000% 0.000000% 0.221527% 0.050133% 0.271660% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 4.092340% 0.000000% 1.469045% 0.209864% 5.771249% 2.945799% 0.000000% 1.361879% 0.050133% 4.357811%
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 7.144526% Weighted Average Net Coupon 6.644526% Weighted Average Pass-Through Rate 6.197822% Weighted Average Maturity(Stepdown Calculation ) 348 Beginning Scheduled Collateral Loan Count 4,332 Number Of Loans Paid In Full 132 Ending Scheduled Collateral Loan Count 4,200 Beginning Scheduled Collateral Balance 795,505,550.90 Ending Scheduled Collateral Balance 767,589,049.43 Ending Actual Collateral Balance at 31-Aug-2004 768,068,681.78 Monthly P &I Constant 5,240,574.12 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 767,589,049.43 Scheduled Principal 504,315.80 Unscheduled Principal 27,412,185.67
Miscellaneous Reporting Monthly Excess Cash 2,642,125.77 Overcollateralization Amount 4,203,435.74 Overcollateralization Deficiency 0.00 Targeted Overcollateralization Amount 4,203,435.74 Cap Payment 377,783.75
Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.750296 7.199756 7.428544 Weighted Average Net Rate 7.250296 6.699756 6.928545 Weighted Average Maturity 348 348 346 Beginning Loan Count 746 2,312 284 Loans Paid In Full 14 80 1 Ending Loan Count 732 2,232 283 Beginning Scheduled Balance 78,054,201.84 393,930,139.24 52,439,015.12 Ending scheduled Balance 76,763,763.52 379,212,478.55 51,467,422.64 Record Date 08/31/2004 08/31/2004 08/31/2004 Principal And Interest Constant 571,396.20 2,610,824.98 367,201.93 Scheduled Principal 67,276.91 247,324.15 42,580.64 Unscheduled Principal 1,223,161.41 14,470,336.54 929,011.84 Scheduled Interest 504,119.29 2,363,500.83 324,621.29 Servicing Fees 32,522.56 164,137.60 21,849.58 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 25,243.95 139,846.75 13,516.11 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 446,352.78 2,059,516.48 289,255.60 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 6.862198 6.273751 6.619245
Group Level Collateral Statement Group 2(B) Total Collateral Description Mixed ARM Mixed & ARM & Balloon Weighted Average Coupon Rate 6.834902 7.144526 Weighted Average Net Rate 6.334902 6.644526 Weighted Average Maturity 346 348 Beginning Loan Count 990 4,332 Loans Paid In Full 37 132 Ending Loan Count 953 4,200 Beginning Scheduled Balance 271,082,194.70 795,505,550.90 Ending scheduled Balance 260,145,384.72 767,589,049.43 Record Date 08/31/2004 08/31/2004 Principal And Interest Constant 1,691,151.01 5,240,574.12 Scheduled Principal 147,134.10 504,315.80 Unscheduled Principal 10,789,675.88 27,412,185.67 Scheduled Interest 1,544,016.91 4,736,258.32 Servicing Fees 112,950.92 331,460.66 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 117,522.58 296,129.39 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 1,313,543.41 4,108,668.27 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 5.814665 6.197822
EX-99.2
theMurrayhillcompany SAIL 2004-5 Credit Risk Manager Report August 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 August 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 7/31/20042 7/31/2004 as a Percentage of Closing Date Collateral Balance $ 841,054,435 $771,290,071 91.70 % Loan Count 4,539 4,228 93.15 % Collateral Statistics Loan Count Summed Balance Repurchases3 0 $ 0 First Payment Defaults 7 $ 1,037,550 Early Payment Defaults 4 49 $ 9,530,401 Multiple Loans to One Borrower 12 $ 1,342,468 Second Lien Statistics Loan Count Summed Balance Outstanding Second Lien Loans 376 $ 21,382,126 30 Days Delinquent 4 $ 326,596 60 Days Delinquent 2 $ 117,697 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 Hurricane Update This month, Murrayhill identified all active loans within this portfolio which are secured by properties located in Florida disaster relief areas affected by Hurricanes Charley and Frances. We are working with the servicers to obtain information regarding their hurricane disaster relief policies, and will be monitoring each loan to ensure the appropriate actions are taken by each servicer. As of mortgage data through 7/31/04, 246 loans have been affected in SAIL 2004-5. (c) 2004 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for SAIL 2004-5 Mortgage Data Through: July 31, 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-Aug-04 25-Jul-04 25-Jun-04 TOTAL $264,746 $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-Aug-04 25-Jul-04 25-Jun-04 P Class $264,746 $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: $264,746 Amount remitted to the P Class: $264,746 Difference: $0 In the 7/25/04 remittance, one servicer reported six loans as paid in full and had prepayments premiums remitted in SAIL 2004-5; however, these loans were reported under different investor numbers. Murrayhill confirmed with the servicer that the premiums remitted for these loans were remitted to the appropriate security. In the 8/25/04 remittance, one servicer remitted premiums on two loans that Murrayhill has not received data on since the origination of this security. We have contacted the servicer of these loans and are verifying if the premiums remitted, were remitted to the appropriate security. Aggregate Paid Off Loans Report for SAIL 2004-5 Mortgage Data Through: July 31, 2004 Trustee Remittance Date 25-Aug-04 25-Jul-04 25-Jun-04 Loans with Active Prepayment Flags that Remitted 44 37 10 Premiums ( A ) Loans without Prepayment Flags that Remitted Premiums 0 0 0 Total Loans that Remitted Premiums ( B ) 44 37 10 Loans with Active Prepayment Flags ( C ) 45 37 12 Loans without Prepayment Flags that Remitted Premiums 0 0 0 Subtotal ( D ) 45 37 12 Premiums Remitted with Active Prepayment Flags 97.8% 100.0% 83.3% ( A/C ) Total Loans that Remitted Premiums to the Subtotal 97.8% 100.0% 83.3% ( B/D ) Total Paid Off Loans ( E ) 80 62 42 Total Loans that Remitted Premiums to the Total Paid Off 55.0% 59.7% 23.8% Loans ( B/E ) Paid Off Loans Exception Report for SAIL 2004-5 Mortgage Data Through: July 31, 2004 Total Total Paid Off Loans with Flags 45 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* 0 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) 45 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 1 * These categories are mutually exclusive. Paid off Loans With Prepayment Flags for SAIL 2004-5 Mortgage Data Through: July 31, 2004 Loan number Delinquency Origination PPP Exp. Date Payoff String Date Flag Balance 4888802 CC0 1/23/04 3 1/23/07 $41,303 4887473 CC0 1/12/04 1 1/12/05 $59,901 4889757 CC0 1/13/04 1 1/13/05 $463,173 4887836 CC0 2/5/04 1 2/5/05 $257,716 4887707 CC0 2/18/04 1 2/18/05 $646,335 4888158 CC0 10/24/03 2 10/24/05 $72,570 4889948 CC0 12/15/03 2 12/15/05 $86,052 4889857 CC0 12/16/03 2 12/16/05 $279,075 4888894 CC0 1/9/04 2 1/9/06 $165,843 4887331 CC0 1/15/04 2 1/15/06 $358,103 4887357 CC0 1/15/04 2 1/15/06 $148,000 4887470 CC0 1/15/04 2 1/15/06 $89,816 4887493 CC0 1/15/04 2 1/15/06 $36,925 4890644 CC0 1/16/04 2 1/16/06 $359,100 4887263 CC0 1/20/04 2 1/20/06 $203,752 4887353 CC0 1/21/04 2 1/21/06 $147,486 4887487 CC0 1/21/04 2 1/21/06 $36,940 4889761 CC0 1/22/04 2 1/22/06 $202,400 4890792 CC0 1/23/04 2 1/23/06 $438,330 4888216 CC0 1/26/04 2 1/26/06 $204,908 4888206 CC0 1/26/04 2 1/26/06 $51,497 4887430 CC0 1/28/04 2 1/28/06 $17,451 4888737 CC0 1/29/04 2 1/29/06 $214,498 4887536 CC0 1/29/04 2 1/29/06 $141,808 4890356 CC0 1/30/04 2 1/30/06 $235,652 4889859 CC0 2/11/04 2 2/11/06 $162,107 4887696 CC0 2/11/04 2 2/11/06 $55,200 4890198 CC0 2/11/04 2 2/11/06 $317,916 4890245 CC0 2/13/04 2 2/13/06 $300,095 4889397 CC0 2/13/04 2 2/13/06 $56,914 4890256 CC0 2/17/04 2 2/17/06 $347,794 4887005 CC0 2/19/04 2 2/19/06 $106,760 4887194 CC0 2/19/04 2 2/19/06 $327,250 4888962 CC0 2/23/04 2 2/23/06 $106,460 4890030 CC0 2/25/04 2 2/25/06 $275,589 4886666 CC0 2/27/04 2 2/27/06 $157,110 4887017 CC0 2/27/04 2 2/27/06 $191,220 4887425 CC0 1/20/04 3 1/20/07 $51,028 4888236 CC0 1/28/04 3 1/28/07 $102,728 4886554 CC0 2/10/04 3 2/10/07 $128,480 4890026 CC0 2/13/04 3 2/13/07 $136,670 4886987 CC0 2/13/04 3 2/13/07 $130,606 4886779 CC0 2/19/04 3 2/19/07 $65,818 4890967 CC0 2/19/04 3 2/19/07 $83,798 4891065 CC0 2/20/04 3 2/20/07 $180,115 4890195 CC0 2/20/04 3 2/20/07 $152,913 4889122 CC0 2/27/04 3 2/27/07 $207,783 4887535 CC0 1/9/04 5 1/9/09 $155,576 4887786 CC0 2/9/04 5 2/9/09 $51,114 Paid off Loans With Prepayment Flags for SAIL 2004-5 Mortgage Data Through: July 31, 2004 (Cont.) Loan Number PPP Remitted % of PPP PPP Comments Premium to Collected, Collected, Payoff w/Flag No Flag Balance 4888802 - 0% 4888802 Awaiting servicer's response 4887473 $2,485 4% 4889757 $12,506 3% 4887836 $2,061 1% 4887707 $21,354 3% 4888158 $2,402 3% 4889948 $2,459 3% 4889857 $9,203 3% 4888894 $4,805 3% 4887331 $8,236 2% 4887357 $4,218 3% 4887470 $3,752 4% 4887493 $1,550 4% 4890644 $10,342 3% 4887263 $10,188 5% 4887353 $3,982 3% 4887487 $1,551 4% 4889761 $5,566 3% 4890792 $13,050 3% 4888216 $6,312 3% 4888206 $515 1% 4887430 $627 4% 4888737 $5,277 2% 4887536 $3,968 3% 4890356 $6,363 3% 4889859 $4,692 3% 4887696 $2,205 4% 4890198 $8,569 3% 4890245 $7,176 2% 4889397 $570 1% 4890256 $11,124 3% 4887005 $3,201 3% 4887194 $10,141 3% 4888962 $5,323 5% 4890030 $7,483 3% 4886666 $4,390 3% 4887017 $5,544 3% 4887425 $2,551 5% 4888236 $1,113 1% 4886554 $3,590 3% 4890026 $3,883 3% 4886987 $3,123 2% 4886779 $658 1% 4890967 $4,190 5% 4891065 $5,581 3% 4890195 $3,819 2% 4889122 $2,078 1% 4887535 $4,969 3% 4887786 $512 1% (c) 2004 The Murrayhill Company. All Rights Reserved. Section Three Analytics SAIL 2004-5 FICO Distribution by Status Mortgage Data Through: July 31, 2004 FICO Delinquency Percentage 500 Current 0.01 500 Delinquent 0.02 500 Paid Off 0.028 510 Current 0.023 510 Delinquent 0.081 510 Paid Off 0.028 520 Current 0.023 520 Delinquent 0.061 520 Paid Off 0.022 530 Current 0.032 530 Delinquent 0.051 530 Paid Off 0.022 540 Current 0.038 540 Delinquent 0.03 540 Paid Off 0.022 550 Current 0.034 550 Delinquent 0.071 550 Paid Off 0.033 560 Current 0.041 560 Delinquent 0.03 560 Paid Off 0.039 570 Current 0.033 570 Delinquent 0.01 570 Paid Off 0.033 580 Current 0.034 580 Delinquent 0.071 580 Paid Off 0.017 590 Current 0.041 590 Delinquent 0.01 590 Paid Off 0.044 600 Current 0.046 600 Delinquent 0.02 600 Paid Off 0.039 610 Current 0.046 610 Delinquent 0.03 610 Paid Off 0.072 620 Current 0.052 620 Delinquent 0.071 620 Paid Off 0.033 630 Current 0.063 630 Delinquent 0.091 630 Paid Off 0.077 640 Current 0.062 640 Delinquent 0.03 640 Paid Off 0.072 650 Current 0.061 650 Delinquent 0.02 650 Paid Off 0.066 660 Current 0.057 660 Delinquent 0.04 660 Paid Off 0.083 670 Current 0.051 670 Delinquent 0.03 670 Paid Off 0.061 680 Current 0.045 680 Delinquent 0.02 680 Paid Off 0.033 690 Current 0.043 690 Paid Off 0.039 700 Current 0.034 700 Delinquent 0.03 700 Paid Off 0.039 710 Current 0.03 710 Delinquent 0.03 710 Paid Off 0.039 720 Current 0.023 720 Delinquent 0.02 720 Paid Off 0.017 730 Current 0.016 730 Delinquent 0.051 730 Paid Off 0.017 740 Current 0.013 740 Delinquent 0.03 740 Paid Off 0.011 750 Current 0.016 760 Current 0.012 760 Delinquent 0.02 760 Paid Off 0.011 770 Current 0.01 770 Delinquent 0.02 770 Paid Off 0.006 780 Current 0.006 790 Current 0.004 800 Current 0.001 800 Delinquent 0.01 Status # of Loans Average Std. Deviation Current 4,129 628 66.377 Delinquent 99 614 78.622 Paid Off 181 626 61.794 Total: 4,409 SAIL 2004-5 Loan-to-Value Distribution by Status Mortgage Data Through: July 31, 2004 LTV Delinquency Percentage 0.1 Paid Off 0.022 0.1 Current 0.008 0.1 Delinquent 0.01 0.2 Current 0.083 0.2 Delinquent 0.051 0.2 Paid Off 0.077 0.3 Paid Off 0.011 0.3 Current 0.005 0.4 Paid Off 0.006 0.4 Current 0.014 0.5 Delinquent 0.01 0.5 Current 0.02 0.5 Paid Off 0.022 0.6 Current 0.048 0.6 Paid Off 0.05 0.6 Delinquent 0.02 0.7 Paid Off 0.099 0.7 Current 0.095 0.7 Delinquent 0.111 0.8 Paid Off 0.32 0.8 Delinquent 0.364 0.8 Current 0.358 0.9 Paid Off 0.287 0.9 Delinquent 0.222 0.9 Current 0.248 1 Delinquent 0.212 1 Current 0.122 1 Paid Off 0.105 Status # of Loans Average Std. Deviation Current 4,129 0.752 0.213 Delinquent 99 0.791 0.183 Paid Off 181 0.743 0.227 Total: 4,409 SAIL 2004-5 Balance Distribution by Status Mortgage Data Through: July 31, 2004 Balance Delinquency Percentage 10000 Current 0.003 20000 Current 0.013 30000 Current 0.02 30000 Delinquent 0.02 40000 Current 0.023 50000 Current 0.026 50000 Delinquent 0.02 60000 Delinquent 0.081 60000 Current 0.036 70000 Delinquent 0.081 70000 Current 0.046 80000 Delinquent 0.02 80000 Current 0.044 90000 Current 0.043 90000 Delinquent 0.02 100000 Delinquent 0.051 100000 Current 0.046 110000 Current 0.04 110000 Delinquent 0.051 120000 Delinquent 0.051 120000 Current 0.044 130000 Delinquent 0.051 130000 Current 0.045 140000 Delinquent 0.091 140000 Current 0.038 150000 Current 0.04 150000 Delinquent 0.04 160000 Current 0.034 160000 Delinquent 0.04 170000 Delinquent 0.04 170000 Current 0.032 180000 Current 0.032 180000 Delinquent 0.03 190000 Current 0.028 200000 Current 0.03 210000 Delinquent 0.03 210000 Current 0.023 220000 Current 0.025 220000 Delinquent 0.01 230000 Current 0.019 230000 Delinquent 0.01 240000 Delinquent 0.02 240000 Current 0.017 250000 Delinquent 0.03 250000 Current 0.02 260000 Current 0.016 260000 Delinquent 0.01 270000 Current 0.017 270000 Delinquent 0.02 280000 Current 0.013 290000 Current 0.016 290000 Delinquent 0.01 300000 Current 0.012 310000 Current 0.014 320000 Delinquent 0.02 320000 Current 0.014 330000 Current 0.011 340000 Delinquent 0.01 340000 Current 0.016 350000 Current 0.014 350000 Delinquent 0.02 360000 Current 0.01 370000 Delinquent 0.01 370000 Current 0.008 380000 Current 0.006 390000 Current 0.005 400000 Delinquent 0.02 400000 Current 0.006 410000 Current 0.005 420000 Current 0.004 430000 Current 0.003 440000 Delinquent 0.02 440000 Current 0.005 450000 Current 0.005 460000 Current 0.003 460000 Delinquent 0.01 470000 Current 0.005 470000 Delinquent 0.01 480000 Current 0.004 480000 Delinquent 0.01 490000 Delinquent 0.01 490000 Current 0.003 500000 Current 0.004 510000 Current 0 510000 Delinquent 0.01 520000 Current 0.001 540000 Current 0.002 550000 Current 0.001 560000 Current 0.001 570000 Delinquent 0.01 570000 Current 0 580000 Current 0 590000 Current 0.001 600000 Current 0 620000 Delinquent 0.01 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 4,129 182,366.48 118,278.26 Delinquent 99 184,837.20 130,995.51 Total: 4,228 SAIL 2004-5 Mortgage Type Distribution by Status Mortgage Data Through: July 31, 2004 Mortgage Type Delinquency Percentage Investment Home Current 0.127 Investment Home Delinquent 0.152 Investment Home Paid Off 0.177 Primary Home Current 0.862 Primary Home Delinquent 0.838 Primary Home Paid Off 0.818 Second Home Current 0.01 Second Home Delinquent 0.01 Second Home Paid Off 0.006 Mortgage Type Loan Count Total Balance Avg. Balance Std. Deviation ARM 3,355 642,924,149.83 191,631.64 120,233.51 Fixed 1,054 128,365,921.62 121,789.30 110,296.38 Total: 4,409 771,290,071.45 SAIL 2004-5 Mortgage Term Distribution by Status Mortgage Data Through: July 31, 2004 Mortgage Term Delinquency Percentage 120 Current 0 180 Current 0.085 180 Paid Off 0.088 180 Delinquent 0.081 240 Paid Off 0.011 240 Current 0.008 360 Delinquent 0.919 360 Paid Off 0.901 360 Current 0.907 # of Loans Other 120 180 240 360 4,409 0 1 377 33 3998 SAIL 2004-5 Mortgage Purpose Distribution Mortgage Data Through: July 31, 2004 Origination Statistics Number of Loans: 4,539 Purpose Cash-out Number Percentage 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: 4,129 Purpose Cash-out Number Percentage refinance 2,109 51.1% Purchase 1,703 41.2% Rate/term 293 7.1% Home 23 0.6% Other 1 0.0% Total 4,129 100% Delinquent Loans Number of Loans: 99 Purpose Cash-out Number Percentage refinance 38 38.4% Purchase 51 51.5% Rate/term 9 9.1% Home 1 1.0% Other 0 0.0% Total 99 100% Paid Off Loans Number of Loans: 181 Purpose Cash-out Number Percentage refinance 99 54.7% Purchase 64 35.4% Rate/term 18 9.9% Home 0 0.0% Other 0 0.0% Total 181 100% SAIL 2004-5 Ownership Distribution by Status Mortgage Data Through: July 31, 2004 Ownership Type Delinquency Percentage Investment Home Current 0.127 Investment Home Delinquent 0.152 Investment Home Paid Off 0.177 Primary Home Current 0.862 Primary Home Delinquent 0.838 Primary Home Paid Off 0.818 Second Home Current 0.01 Second Home Delinquent 0.01 Second Home Paid Off 0.006 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: July 31, 2004 Total Balance in Status As Of Date 30 Days 60 Days 90 Days Foreclosure REO 7/31/2004 $ 12,605,945 $ 2,731,892 $ 836,617 $ 2,124,429 $ - 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: July 31, 2004 Total Count in Status As Of Date 30 Days 60 Days 90 Days Foreclosure REO 7/31/2004 68 15 4 12 0 6/30/2004 40 9 0 7 0 5/31/2004 27 1 0 5 0 SAIL 2004-5 Conditional Prepayment Rates Mortgage Data Through: July 31, 2004 Date * Distribution CPR 3-Month MA 6-Month MA 12-Month MA Date 31-Jul-04 25-Aug-04 28.35% 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. SAIL 2004-5 Historical SDA Performance Mortgage Data Through: July 31, 2004 Weighted Monthly Average Default Default CDR SDA SDA Date Age Amt Rate (F-R) Curve % 31-Jul-04 5.46 $0 0.00% 0.00% 0.11% 0% 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: 4.48 $0 0.00% 0.00% 0.09% 0% (c) 2004 The Murrayhill Company. All Rights Reserved.
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