-----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, LnfUP+yHkq8k4WPUVfil0DoIOMDv5fN75H1xRvp3URrWUtMT1f0IL91LNkyur4WX LRZMeKBDHrpyBjjVmdH60w== 0001056404-04-004171.txt : 20041202 0001056404-04-004171.hdr.sgml : 20041202 20041202151940 ACCESSION NUMBER: 0001056404-04-004171 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041126 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041202 DATE AS OF CHANGE: 20041202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STRUCTURED ASSET INVESTMENT LOAN TRUST 2004-5 CENTRAL INDEX KEY: 0001292368 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: 333-106925-36 FILM NUMBER: 041180452 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_nov.txt NOVEMBER 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 26, 2004 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-5 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106925-36 54-2154091 Pooling and Servicing Agreement) (Commission 54-2154092 (State or other File Number) 54-2154093 jurisdiction 54-2154094 of Incorporation) IRS EIN c/o Wells Fargo Bank, N.A., 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On November 26, 2004 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2004-5 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 November 26, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-5 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: 11/26/2004 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 November 26, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report EX-99.1
Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 10/31/2004 Distribution Date: 11/26/2004 SAIL Series: 2004-5 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 2.19250% 359,685,311.24 700,986.70 18,141,895.74 A2 86358EJB3 SEN 2.11250% 201,778,450.94 378,895.09 11,986,963.15 A3 86358EJC1 SEN 2.43250% 42,572,000.00 92,050.12 0.00 A-SIO 86358EJD9 IO 0.00000% 0.00 0.00 0.00 M1 86358EJE7 MEZ 2.46250% 25,231,000.00 55,227.86 0.00 M2 86358EJF4 MEZ 2.48250% 23,129,000.00 51,037.99 0.00 M3 86358EJG2 MEZ 2.55250% 12,616,000.00 28,624.30 0.00 M4 86358EJH0 MEZ 2.91250% 14,719,000.00 38,105.86 0.00 M5 86358EJJ6 MEZ 3.08250% 12,616,000.00 34,567.84 0.00 M6 86358EJK3 MEZ 3.41250% 10,514,000.00 31,892.47 0.00 M7 86358EJL1 MEZ 3.93250% 8,410,000.00 29,397.62 0.00 M8 86358EJM9 MEZ 4.33250% 10,514,000.00 40,490.58 0.00 B 86358EJN7 SUB 4.43250% 10,514,000.00 41,425.16 0.00 X SAI04005X RES 0.00000% 4,203,335.74 2,835,674.01 0.00 P SAI04005P SEN 0.00000% 100.00 597,488.11 0.00 R SAI4005R4 RES 0.00000% 0.00 0.00 0.00 Totals 736,502,197.92 4,955,863.71 30,128,858.89
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 341,543,415.50 18,842,882.44 0.00 A2 0.00 189,791,487.79 12,365,858.24 0.00 A3 0.00 42,572,000.00 92,050.12 0.00 A-SIO 0.00 0.00 0.00 0.00 M1 0.00 25,231,000.00 55,227.86 0.00 M2 0.00 23,129,000.00 51,037.99 0.00 M3 0.00 12,616,000.00 28,624.30 0.00 M4 0.00 14,719,000.00 38,105.86 0.00 M5 0.00 12,616,000.00 34,567.84 0.00 M6 0.00 10,514,000.00 31,892.47 0.00 M7 0.00 8,410,000.00 29,397.62 0.00 M8 0.00 10,514,000.00 40,490.58 0.00 B 0.00 10,514,000.00 41,425.16 0.00 X 0.00 4,203,335.74 2,835,674.01 0.00 P 0.00 100.00 597,488.11 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 706,373,339.03 35,084,722.60 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 416,750,000.00 359,685,311.24 0.00 18,141,895.74 0.00 0.00 A2 249,266,000.00 201,778,450.94 0.00 11,986,963.15 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 841,054,435.74 736,502,197.92 0.00 30,128,858.89 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 18,141,895.74 341,543,415.50 0.81954029 18,141,895.74 A2 11,986,963.15 189,791,487.79 0.76140143 11,986,963.15 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 30,128,858.89 706,373,339.03 0.83986637 30,128,858.89
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 416,750,000.00 863.07213255 0.00000000 43.53184341 0.00000000 A2 249,266,000.00 809.49046777 0.00000000 48.08904203 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 43.53184341 819.54028914 0.81954029 43.53184341 A2 0.00000000 48.08904203 761.40142575 0.76140143 48.08904203 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 2.19250% 359,685,311.24 700,986.71 0.00 0.00 A2 249,266,000.00 2.11250% 201,778,450.94 378,895.09 0.00 0.00 A3 42,572,000.00 2.43250% 42,572,000.00 92,050.12 0.00 0.00 A-SIO 0.00 0.00000% 767,589,049.43 0.00 0.00 0.00 M1 25,231,000.00 2.46250% 25,231,000.00 55,227.86 0.00 0.00 M2 23,129,000.00 2.48250% 23,129,000.00 51,037.99 0.00 0.00 M3 12,616,000.00 2.55250% 12,616,000.00 28,624.30 0.00 0.00 M4 14,719,000.00 2.91250% 14,719,000.00 38,105.86 0.00 0.00 M5 12,616,000.00 3.08250% 12,616,000.00 34,567.84 0.00 0.00 M6 10,514,000.00 3.41250% 10,514,000.00 31,892.47 0.00 0.00 M7 8,410,000.00 3.93250% 8,410,000.00 29,397.62 0.00 0.00 M8 10,514,000.00 4.33250% 10,514,000.00 40,490.58 0.00 0.00 B 10,514,000.00 4.43250% 10,514,000.00 41,425.16 0.00 0.00 X 4,203,335.74 0.00000% 736,502,197.92 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 1,522,701.60 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 0.00 700,986.70 0.00 341,543,415.50 A2 0.00 0.00 378,895.09 0.00 189,791,487.79 A3 0.00 0.00 92,050.12 0.00 42,572,000.00 A-SIO 0.00 0.00 0.00 0.00 736,502,197.92 M1 0.00 0.00 55,227.86 0.00 25,231,000.00 M2 0.00 0.00 51,037.99 0.00 23,129,000.00 M3 0.00 0.00 28,624.30 0.00 12,616,000.00 M4 0.00 0.00 38,105.86 0.00 14,719,000.00 M5 0.00 0.00 34,567.84 0.00 12,616,000.00 M6 0.00 0.00 31,892.47 0.00 10,514,000.00 M7 0.00 0.00 29,397.62 0.00 8,410,000.00 M8 0.00 0.00 40,490.58 0.00 10,514,000.00 B 0.00 0.00 41,425.16 0.00 10,514,000.00 X 0.00 0.00 2,835,674.01 0.00 706,373,339.03 P 0.00 0.00 597,488.11 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 4,955,863.71 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 2.19250% 863.07213255 1.68203170 0.00000000 0.00000000 A2 249,266,000.00 2.11250% 809.49046777 1.52004321 0.00000000 0.00000000 A3 42,572,000.00 2.43250% 1000.00000000 2.16222212 0.00000000 0.00000000 A-SIO 0.00 0.00000% 912.65085447 0.00000000 0.00000000 0.00000000 M1 25,231,000.00 2.46250% 1000.00000000 2.18888907 0.00000000 0.00000000 M2 23,129,000.00 2.48250% 1000.00000000 2.20666652 0.00000000 0.00000000 M3 12,616,000.00 2.55250% 1000.00000000 2.26888871 0.00000000 0.00000000 M4 14,719,000.00 2.91250% 1000.00000000 2.58888919 0.00000000 0.00000000 M5 12,616,000.00 3.08250% 1000.00000000 2.74000000 0.00000000 0.00000000 M6 10,514,000.00 3.41250% 1000.00000000 3.03333365 0.00000000 0.00000000 M7 8,410,000.00 3.93250% 1000.00000000 3.49555529 0.00000000 0.00000000 M8 10,514,000.00 4.33250% 1000.00000000 3.85111090 0.00000000 0.00000000 B 10,514,000.00 4.43250% 1000.00000000 3.94000000 0.00000000 0.00000000 X 4,203,335.74 0.00000% 175218.50346411 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 0.00000000 0.00000000 1.68203167 0.00000000 819.54028914 A2 0.00000000 0.00000000 1.52004321 0.00000000 761.40142575 A3 0.00000000 0.00000000 2.16222212 0.00000000 1000.00000000 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 875.68909529 M1 0.00000000 0.00000000 2.18888907 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.20666652 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.26888871 0.00000000 1000.00000000 M4 0.00000000 0.00000000 2.58888919 0.00000000 1000.00000000 M5 0.00000000 0.00000000 2.74000000 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.03333365 0.00000000 1000.00000000 M7 0.00000000 0.00000000 3.49555529 0.00000000 1000.00000000 M8 0.00000000 0.00000000 3.85111090 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.94000000 0.00000000 1000.00000000 X 0.00000000 0.00000000 674.62467559 0.00000000 168050.65850628 P 0.00000000 0.00000000 5974881.10000000 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 35,672,793.24 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 35,672,793.24 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 588,070.64 Payment of Interest and Principal 35,084,722.60 Total Withdrawals (Pool Distribution Amount) 35,672,793.24 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 306,875.98 Credit Risk Manager's Fee 9,206.28 PMI Insurance Premium Fee 271,374.68 Securities Administrator Fee 613.70 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 588,070.64
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 519,605.73 519,605.73 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 10 0 0 10 1,351,820.63 0.00 0.00 1,351,820.63 30 Days 85 2 0 0 87 13,417,969.44 433,056.16 0.00 0.00 13,851,025.60 60 Days 33 1 1 0 35 4,906,867.70 132,312.99 119,927.35 0.00 5,159,108.04 90 Days 5 0 19 0 24 1,212,027.37 0.00 4,354,300.82 0.00 5,566,328.19 120 Days 5 1 26 2 34 922,250.73 121,356.03 5,348,458.17 795,718.64 7,187,783.57 150 Days 3 2 5 2 12 928,591.99 233,571.53 1,218,289.52 269,633.70 2,650,086.74 180+ Days 0 1 6 4 11 0.00 66,456.89 1,103,852.62 377,850.00 1,548,159.51 Totals 131 17 57 8 213 21,387,707.23 2,338,574.23 12,144,828.48 1,443,202.34 37,314,312.28 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 0.255167% 0.000000% 0.000000% 0.255167% 0.191241% 0.000000% 0.000000% 0.191241% 30 Days 2.168921% 0.051033% 0.000000% 0.000000% 2.219954% 1.898233% 0.061264% 0.000000% 0.000000% 1.959497% 60 Days 0.842052% 0.025517% 0.025517% 0.000000% 0.893085% 0.694172% 0.018718% 0.016966% 0.000000% 0.729856% 90 Days 0.127584% 0.000000% 0.484818% 0.000000% 0.612401% 0.171465% 0.000000% 0.616001% 0.000000% 0.787466% 120 Days 0.127584% 0.025517% 0.663435% 0.051033% 0.867568% 0.130470% 0.017168% 0.756644% 0.112570% 1.016852% 150 Days 0.076550% 0.051033% 0.127584% 0.051033% 0.306201% 0.131367% 0.033043% 0.172351% 0.038145% 0.374906% 180+ Days 0.000000% 0.025517% 0.153100% 0.102067% 0.280684% 0.000000% 0.009402% 0.156161% 0.053454% 0.219017% Totals 3.342689% 0.433784% 1.454453% 0.204134% 5.435060% 3.025708% 0.330837% 1.718123% 0.204169% 5.278836%
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 1 216,400.00 0.00 0.00 216,400.00 30 Days 7 0 0 0 7 539,513.00 0.00 0.00 0.00 539,513.00 60 Days 5 0 0 0 5 196,819.65 0.00 0.00 0.00 196,819.65 90 Days 0 0 1 0 1 0.00 0.00 263,244.58 0.00 263,244.58 120 Days 1 0 2 0 3 30,975.25 0.00 200,969.59 0.00 231,944.84 150 Days 1 0 1 0 2 53,534.82 0.00 63,846.29 0.00 117,381.11 180 Days 0 0 0 1 1 0.00 0.00 0.00 64,600.00 64,600.00 Totals 14 1 4 1 20 820,842.72 216,400.00 528,060.46 64,600.00 1,629,903.18 0-29 Days 0.143472% 0.000000% 0.000000% 0.143472% 0.297207% 0.000000% 0.000000% 0.297207% 30 Days 1.004304% 0.000000% 0.000000% 0.000000% 1.004304% 0.740974% 0.000000% 0.000000% 0.000000% 0.740974% 60 Days 0.717360% 0.000000% 0.000000% 0.000000% 0.717360% 0.270315% 0.000000% 0.000000% 0.000000% 0.270315% 90 Days 0.000000% 0.000000% 0.143472% 0.000000% 0.143472% 0.000000% 0.000000% 0.361543% 0.000000% 0.361543% 120 Days 0.143472% 0.000000% 0.286944% 0.000000% 0.430416% 0.042542% 0.000000% 0.276014% 0.000000% 0.318556% 150 Days 0.143472% 0.000000% 0.143472% 0.000000% 0.286944% 0.073525% 0.000000% 0.087687% 0.000000% 0.161213% 180 Days 0.000000% 0.000000% 0.000000% 0.143472% 0.143472% 0.000000% 0.000000% 0.000000% 0.088722% 0.088722% Totals 2.008608% 0.143472% 0.573888% 0.143472% 2.869440% 1.127356% 0.297207% 0.725245% 0.088722% 2.238530% 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 2 135,441.22 0.00 0.00 135,441.22 30 Days 52 2 0 0 54 7,641,138.95 433,056.16 0.00 0.00 8,074,195.11 60 Days 22 0 1 0 23 3,389,458.98 0.00 119,927.35 0.00 3,509,386.33 90 Days 3 0 13 0 16 658,434.18 0.00 3,269,245.49 0.00 3,927,679.67 120 Days 2 0 11 0 13 517,337.68 0.00 1,563,989.59 0.00 2,081,327.27 150 Days 0 2 2 1 5 0.00 233,571.53 346,812.61 211,210.58 791,594.72 180 Days 0 1 2 0 3 0.00 66,456.89 231,469.34 0.00 297,926.23 Totals 79 7 29 1 116 12,206,369.79 868,525.80 5,531,444.38 211,210.58 18,817,550.55 0-29 Days 0.096525% 0.000000% 0.000000% 0.096525% 0.039040% 0.000000% 0.000000% 0.039040% 30 Days 2.509653% 0.096525% 0.000000% 0.000000% 2.606178% 2.202503% 0.124825% 0.000000% 0.000000% 2.327329% 60 Days 1.061776% 0.000000% 0.048263% 0.000000% 1.110039% 0.976987% 0.000000% 0.034568% 0.000000% 1.011555% 90 Days 0.144788% 0.000000% 0.627413% 0.000000% 0.772201% 0.189789% 0.000000% 0.942336% 0.000000% 1.132125% 120 Days 0.096525% 0.000000% 0.530888% 0.000000% 0.627413% 0.149119% 0.000000% 0.450809% 0.000000% 0.599928% 150 Days 0.000000% 0.096525% 0.096525% 0.048263% 0.241313% 0.000000% 0.067325% 0.099966% 0.060880% 0.228171% 180 Days 0.000000% 0.048263% 0.096525% 0.000000% 0.144788% 0.000000% 0.019156% 0.066719% 0.000000% 0.085875% Totals 3.812741% 0.337838% 1.399614% 0.048263% 5.598456% 3.518398% 0.250346% 1.594399% 0.060880% 5.424023% 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 2 0 0 2 148,976.87 0.00 0.00 148,976.87 30 Days 3 0 0 0 3 443,389.29 0.00 0.00 0.00 443,389.29 60 Days 1 0 0 0 1 248,846.47 0.00 0.00 0.00 248,846.47 90 Days 1 0 1 0 2 439,027.77 0.00 56,912.07 0.00 495,939.84 120 Days 1 0 1 0 2 55,633.63 0.00 312,958.33 0.00 368,591.96 150 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 6 2 2 0 10 1,186,897.16 148,976.87 369,870.40 0.00 1,705,744.43 0-29 Days 0.746269% 0.000000% 0.000000% 0.746269% 0.303685% 0.000000% 0.000000% 0.303685% 30 Days 1.119403% 0.000000% 0.000000% 0.000000% 1.119403% 0.903836% 0.000000% 0.000000% 0.000000% 0.903836% 60 Days 0.373134% 0.000000% 0.000000% 0.000000% 0.373134% 0.507266% 0.000000% 0.000000% 0.000000% 0.507266% 90 Days 0.373134% 0.000000% 0.373134% 0.000000% 0.746269% 0.894945% 0.000000% 0.116014% 0.000000% 1.010958% 120 Days 0.373134% 0.000000% 0.373134% 0.000000% 0.746269% 0.113407% 0.000000% 0.637956% 0.000000% 0.751364% 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 2.238806% 0.746269% 0.746269% 0.000000% 3.731343% 2.419454% 0.303685% 0.753970% 0.000000% 3.477109% 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 5 0 0 5 851,002.54 0.00 0.00 851,002.54 30 Days 23 0 0 0 23 4,793,928.20 0.00 0.00 0.00 4,793,928.20 60 Days 5 1 0 0 6 1,071,742.60 132,312.99 0.00 0.00 1,204,055.59 90 Days 1 0 4 0 5 114,565.42 0.00 764,898.68 0.00 879,464.10 120 Days 1 1 12 2 16 318,304.17 121,356.03 3,270,540.66 795,718.64 4,505,919.50 150 Days 2 0 2 1 5 875,057.17 0.00 807,630.62 58,423.12 1,741,110.91 180 Days 0 0 4 3 7 0.00 0.00 872,383.28 313,250.00 1,185,633.28 Totals 32 7 22 6 67 7,173,597.56 1,104,671.56 5,715,453.24 1,167,391.76 15,161,114.12 0-29 Days 0.566893% 0.000000% 0.000000% 0.566893% 0.357461% 0.000000% 0.000000% 0.357461% 30 Days 2.607710% 0.000000% 0.000000% 0.000000% 2.607710% 2.013673% 0.000000% 0.000000% 0.000000% 2.013673% 60 Days 0.566893% 0.113379% 0.000000% 0.000000% 0.680272% 0.450182% 0.055578% 0.000000% 0.000000% 0.505760% 90 Days 0.113379% 0.000000% 0.453515% 0.000000% 0.566893% 0.048123% 0.000000% 0.321293% 0.000000% 0.369416% 120 Days 0.113379% 0.113379% 1.360544% 0.226757% 1.814059% 0.133703% 0.050975% 1.373780% 0.334239% 1.892696% 150 Days 0.226757% 0.000000% 0.226757% 0.113379% 0.566893% 0.367565% 0.000000% 0.339243% 0.024540% 0.731348% 180 Days 0.000000% 0.000000% 0.453515% 0.340136% 0.793651% 0.000000% 0.000000% 0.366442% 0.131580% 0.498021% Totals 3.628118% 0.793651% 2.494331% 0.680272% 7.596372% 3.013246% 0.464014% 2.400757% 0.490359% 6.368375%
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 7.133626% Weighted Average Net Coupon 6.633625% Weighted Average Pass-Through Rate 6.190468% Weighted Average Maturity(Stepdown Calculation ) 346 Beginning Scheduled Collateral Loan Count 4,062 Number Of Loans Paid In Full 143 Ending Scheduled Collateral Loan Count 3,919 Beginning Scheduled Collateral Balance 736,502,197.92 Ending Scheduled Collateral Balance 706,373,339.03 Ending Actual Collateral Balance at 31-Oct-2004 706,866,270.91 Monthly P &I Constant 4,850,464.56 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 706,373,339.03 Scheduled Principal 472,188.81 Unscheduled Principal 29,656,670.08
Miscellaneous Reporting Monthly Excess Cash 2,268,487.69 Overcollateralization Amount 4,203,435.74 Overcollateralization Deficiency 0.00 Targeted Overcollateralization Amount 4,203,435.74 Cap Payment 567,186.31
Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.727278 7.188201 7.413260 Weighted Average Net Rate 7.227277 6.688201 6.913260 Weighted Average Maturity 346 346 344 Beginning Loan Count 712 2,155 276 Loans Paid In Full 15 83 8 Ending Loan Count 697 2,072 268 Beginning Scheduled Balance 74,338,426.17 363,255,996.08 49,741,759.73 Ending scheduled Balance 72,757,648.05 346,694,878.46 49,020,777.60 Record Date 10/31/2004 10/31/2004 10/31/2004 Principal And Interest Constant 542,932.02 2,405,839.58 349,092.22 Scheduled Principal 64,237.30 229,875.30 41,801.71 Unscheduled Principal 1,516,540.82 16,331,242.32 679,180.42 Scheduled Interest 478,694.72 2,175,964.28 307,290.51 Servicing Fees 30,974.38 151,356.65 20,725.75 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 24,149.76 127,991.90 13,487.93 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 423,570.58 1,896,615.73 273,076.83 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 6.837444 6.265385 6.587869
Group Level Collateral Statement Group 2(B) Total Collateral Description Mixed ARM Mixed & ARM & Balloon Weighted Average Coupon Rate 6.821121 7.133626 Weighted Average Net Rate 6.321121 6.633625 Weighted Average Maturity 344 346 Beginning Loan Count 919 4,062 Loans Paid In Full 37 143 Ending Loan Count 882 3,919 Beginning Scheduled Balance 249,166,015.94 736,502,197.92 Ending scheduled Balance 237,900,034.92 706,373,339.03 Record Date 10/31/2004 10/31/2004 Principal And Interest Constant 1,552,600.74 4,850,464.56 Scheduled Principal 136,274.50 472,188.81 Unscheduled Principal 11,129,706.52 29,656,670.08 Scheduled Interest 1,416,326.24 4,378,275.75 Servicing Fees 103,819.20 306,875.98 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 106,358.79 271,988.38 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 1,206,148.25 3,799,411.39 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 5.808890 6.190468
theMurrayhillcompany SAIL 2004-5 Credit Risk Manager Report October 2004 The information contained in this Report is based upon a specific point in time and reflects performance solely through that point in time. It does not forecast the performance of the portfolio in the future. The information in this Report is not investment advice concerning a particular portfolio or security, and no mention of a particular security in this Report constitutes a recommendation to buy, sell, or hold that or any other security. The Report is based upon information provided to The Murrayhill Company by third parties and therefore The Murrayhill Company cannot, and does not, warrant that the information contained in this Report is accurate or complete. Table of Contents Section One Transaction Summary Section Two Prepayment Premium Analysis Section Three Analytics Section One Transaction Summary SAIL 2004-5 Transaction Summary October 2004 Transaction Summary Closing Date : 5/28/2004 Depositor: Structured Asset Securities Corporation Trustee: Wells Fargo Bank, N.A. Securities Administrator: Wells Fargo Bank, N.A. Master Servicer: Aurora Loan Services Master Servicing Aurora Loan Services, Chase Manhattan Mortgage Corp., Servicer(s): IndyMac Bank, Wells Fargo Bank N.A. Mortgage Insurer(s): Mortgage Guaranty Insurance Corporation Delinquency Reporting Method: OTS1 Collateral Summary 9/30/2004 as a Percentage Closing Date 9/30/20042 of Closing Date Collateral Balance $ 841,054,435 $ 713,308,348 84.81 % Loan Count 4,539 3,961 87.27 % Collateral Statistics Loan Count Summed Balance Repurchases3 0 $ 0 First Payment Defaults 7 $ 1,037,550 Early Payment Defaults 4 20 $ 4,409,892 Multiple Loans to One Borrower 12 $ 1,304,227 Second Lien Statistics Loan Count Summed Balance Outstanding Second Lien Loans 359 $ 20,290,160 30 Days Delinquent 5 $ 197,394 60 Days Delinquent 1 $ 56,912 90+ Days Delinquent 1 $ 55,634 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 Delinquencies Murrayhill has noticed that delinquency counts have not reconciled between what the servicers are reporting and what is being reported on the remittance statement, particularly for foreclosure loans. We have requested a complete delinquency file from the master servicer that can be used to compare the delinquency counts reported to the securities administrator to those reported by each individual servicer. 10/25/2004 Remittance Delinquency Counts 30 60 90+ FC REO As reported on remittance 75 28 17 41 3 As reported by servicers 68 23 10 31 0 Difference 7 5 7 10 3 c 2004 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for SAIL 2004-5 Mortgage Data Through: September 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-Oct-04 25-Sep-04 25-Aug-04 25-Jul-04 25-Jun-04 TOTAL $603,948 $453,995 $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-Oct-04 25-Sep-04 25-Aug-04 25-Jul-04 25-Jun-04 P Class $603,948 $453,995 $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: $603,948 Amount remitted to the P Class: $603,948 Difference: $0 Aggregate Paid-Off Loans Report for SAIL 2004-5 Mortgage Data Through: September 30, 2004 Trustee Remittance Date 25-Oct-04 25-Sep-04 25-Aug-04 25-Jul-04 25-Jun-04 Loans with Active Prepayment Flags with Premiums 96 84 44 37 10 Remitted (A) Loans without Prepayment Flags with Premiums Remitted 0 2 0 0 0 Total Loans with Premiums Remitted (B) 96 86 44 37 10 Loans with Active Prepayment Flags (C) 97 84 45 37 12 Loans without Prepayment Flags with Premiums Remitted 0 2 0 0 0 Subtotal (D) 97 86 45 37 12 Premiums Remitted for loans with Active Prepayment 99.0% 100.0% 97.8% 100.0% 83.3% Flags (A/C) Total Loans with Premiums Remitted to the Subtotal 99.0% 100.0% 97.8% 100.0% 83.3% (B/D) Total Paid-Off Loans (E) 137 129 80 62 42 Total Loans with Premiums Remitted to 70.1% 66.7% 55.0% 59.7% 23.8% the Total Paid-Off Loans (B/E) Paid Off-Loans Exception Report for SAIL 2004-5 Mortgage Data Through: September 30, 2004 Total Total Paid-Off Loans with Flags Less Exceptions: 97 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 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* 0 Loans that were Liquidated Through Loss Mitigation Efforts* Total Paid-Off Loans with Active Prepayment Flags (C) 0 97 Other Exceptions: Paid-Off Loans that Did Not Collect Premiums because of State Statutes 1 Paid-Off Loans with Active Prepayment Flags that Did Not Have Premiums Remitted 0 * These categories are mutually exclusive. Paid-Off Loans With Prepayment Flags for SAIL 2004-5 Mortgage Data Through: September 30, 2004 Loan Number Delinquency Origination PPP Exp. Date String Date Flag 4889241 CCCC0 12/3/2003 2 12/3/2005 4886837 CCCC0 3/2/2004 3 3/2/2007 4886839 CCCC0 3/2/2004 3 3/2/2007 4891033 CCCC0 2/27/2004 3 2/27/2007 4890235 CCCC0 2/26/2004 3 2/26/2007 4886586 CCCC0 2/25/2004 3 2/25/2007 4891017 CCC30 2/23/2004 3 2/23/2007 4889462 CCCC0 2/21/2004 3 2/21/2007 4891056 CCCC0 2/20/2004 3 2/20/2007 4891057 CCCC0 2/20/2004 3 2/20/2007 4886879 CCCC0 2/19/2004 3 2/19/2007 4890282 CCCC0 2/18/2004 3 2/18/2007 4887161 CCCC0 2/11/2004 3 2/11/2007 4886943 CCCC0 2/10/2004 3 2/10/2007 4887127 CCCC0 2/10/2004 3 2/10/2007 4890298 CCCC0 2/9/2004 3 2/9/2007 4887394 CCCC0 1/29/2004 3 1/29/2007 4653217 CCCC0 1/26/2004 3 1/26/2007 4887797 3CCC0 1/26/2004 3 1/26/2007 4890875 CCCC0 1/22/2004 3 1/22/2007 4888813 CCCC0 1/22/2004 3 1/22/2007 4888519 CCCC0 1/20/2004 3 1/20/2007 4887500 CCCC0 12/10/2003 3 12/10/2006 4889812 CCCC0 3/4/2004 2 3/4/2006 4887019 CCCC0 3/2/2004 2 3/2/2006 4890497 CCCC0 2/27/2004 2 2/27/2006 4890255 CCC30 2/27/2004 2 2/27/2006 4886906 CCCC0 2/27/2004 2 2/27/2006 4890236 CCCC0 2/27/2004 2 2/27/2006 4887015 CCCC0 2/26/2004 2 2/26/2006 4890064 CCCC0 2/25/2004 2 2/25/2006 4890123 CCCC0 2/25/2004 2 2/25/2006 4887169 CCCC0 2/25/2004 2 2/25/2006 4889969 CCCC0 2/24/2004 2 2/24/2006 4887947 CCCC0 2/24/2004 2 2/24/2006 4890110 CC3C0 2/24/2004 2 2/24/2006 4888036 CCCC0 2/24/2004 2 2/24/2006 4888989 0 2/23/2004 2 2/23/2006 4890242 CCCC0 2/23/2004 2 2/23/2006 4886721 CCCC0 2/23/2004 2 2/23/2006 4889381 CCCC0 2/20/2004 2 2/20/2006 4886538 CCCC0 2/20/2004 2 2/20/2006 4889874 CCCC0 2/19/2004 2 2/19/2006 4887924 CCCC0 2/19/2004 2 2/19/2006 4890306 CCCC0 2/19/2004 2 2/19/2006 4890095 CCCC0 2/19/2004 2 2/19/2006 4887157 CCCC0 2/19/2004 2 2/19/2006 4888021 CCCC0 2/19/2004 2 2/19/2006 4887626 CCCC0 2/18/2004 2 2/18/2006 4887106 CCCC0 2/18/2004 2 2/18/2006 4886640 CCCC0 2/18/2004 2 2/18/2006 4886599 CCCC0 2/18/2004 2 2/18/2006 4887678 CC360 2/17/2004 2 2/17/2006 4886746 CCCC0 2/17/2004 2 2/17/2006 4890432 CCCC0 2/13/2004 2 2/13/2006 4887689 CCCC0 2/13/2004 2 2/13/2006 4890096 CCCC0 2/13/2004 2 2/13/2006 4886887 CCCC0 2/13/2004 2 2/13/2006 4890456 CCCC0 2/12/2004 2 2/12/2006 4886994 C36F0 2/12/2004 2 2/12/2006 4890049 CCCC0 2/9/2004 2 2/9/2006 4890426 CCCC0 2/7/2004 2 2/7/2006 4887693 CCCC0 2/6/2004 2 2/6/2006 4887714 CCCC0 2/6/2004 2 2/6/2006 4886980 CCCC0 2/6/2004 2 2/6/2006 4888729 CCCC0 1/30/2004 2 1/30/2006 4888414 CCCC0 1/30/2004 2 1/30/2006 4890333 CCCC0 1/29/2004 2 1/29/2006 4887278 CCCC0 1/29/2004 2 1/29/2006 4888406 CCCC0 1/28/2004 2 1/28/2006 4890539 CCCC0 1/26/2004 2 1/26/2006 4653210 CCCC0 1/26/2004 2 1/26/2006 4888409 CCCC0 1/23/2004 2 1/23/2006 4890884 CCCC0 1/21/2004 2 1/21/2006 4887307 CCCC0 1/21/2004 2 1/21/2006 4887458 CCCC0 1/21/2004 2 1/21/2006 4887717 CCCC0 1/20/2004 2 1/20/2006 4889911 CCCC0 1/20/2004 2 1/20/2006 4890639 CCCC0 1/16/2004 2 1/16/2006 4890902 CCCC0 1/16/2004 2 1/16/2006 4887355 CCCC0 1/16/2004 2 1/16/2006 4887491 CCCC0 1/16/2004 2 1/16/2006 4890655 CCCC0 1/15/2004 2 1/15/2006 4888826 CCCC0 1/15/2004 2 1/15/2006 4890863 CCCC0 1/15/2004 2 1/15/2006 4887276 CCCC0 1/15/2004 2 1/15/2006 4887433 C36F0 1/15/2004 2 1/15/2006 4890889 CCCC0 1/12/2004 2 1/12/2006 4890361 CCCC0 1/9/2004 2 1/9/2006 4888302 CCCC0 1/8/2004 2 1/8/2006 4890866 CCCC0 1/8/2004 2 1/8/2006 4888415 CCCC0 1/6/2004 2 1/6/2006 4888379 CCCC0 12/24/2003 2 12/24/2005 4889225 CCCC0 12/23/2003 2 12/23/2005 4889242 CCC60 11/18/2003 2 11/18/2005 4889249 CCC30 9/12/2003 2 9/12/2005 4889806 CCCC0 3/18/2004 1 3/18/2005 Paid-Off Loans With Prepayment Flags for SAIL 2004-5 Mortgage Data Through: September 30, 2004 (CONT.) No % of Premium Premium PPP Loan Number Payoff PPP Remitted to Payoff Collected, Collected, Comments Balance Balance w/ Flag No Flag 4889241 $ 107,259 $ - 0% Did not collect because of a MN state statute 4886837 $ 302,677 $ 8,163 3% 4886839 $ 109,472 $ 2,862 3% 4891033 $ 116,684 $ 5,834 5% 4890235 $ 222,411 $ 6,666 3% 4886586 $ 195,012 $ 4,674 2% 4891017 $ 164,587 $ 8,229 5% 4889462 $ 94,895 $ 3,858 4% 4891056 $ 247,408 $ 2,474 1% 4891057 $ 247,408 $ 2,474 1% 4886879 $ 174,316 $ 5,501 3% 4890282 $ 326,940 $ 8,229 3% 4887161 $ 155,038 $ 4,771 3% 4886943 $ 239,845 $ 6,960 3% 4887127 $ 221,250 $ 5,695 3% 4890298 $ 126,572 $ 4,442 4% 4887394 $ 182,000 $ 3,822 2% 4653217 $ 440,057 $ 11,781 3% 4887797 $ 124,068 $ 3,722 3% 4890875 $ 150,766 $ 3,590 2% 4888813 $ 105,000 $ 2,457 2% 4888519 $ 385,161 $ 11,156 3% 4887500 $ 64,863 $ 3,086 5% 4889812 $ 294,994 $ 8,103 3% 4887019 $ 261,301 $ 6,786 3% 4890497 $ 565,000 $ 13,537 2% 4890255 $ 304,244 $ 8,484 3% 4886906 $ 218,790 $ 7,653 3% 4890236 $ 190,455 $ 5,442 3% 4887015 $ 198,547 $ 6,162 3% 4890064 $ 351,169 $ 9,260 3% 4890123 $ 311,938 $ 7,530 2% 4887169 $ 152,326 $ 5,474 4% 4889969 $ 307,716 $ 8,595 3% 4887947 $ 248,000 $ 5,942 2% 4890110 $ 156,184 $ 4,806 3% 4888036 $ 61,881 $ 2,660 4% 4888989 $ 206,825 $ 5,383 3% 4890242 $ 292,081 $ 8,404 3% 4886721 $ 111,652 $ 4,175 4% 4889381 $ 260,575 $ 6,637 3% 4886538 $ 239,451 $ 8,462 4% 4889874 $ 179,060 $ 4,633 3% 4887924 $ 313,954 $ 7,899 3% 4890306 $ 177,979 $ 6,229 4% 4890095 $ 160,612 $ 4,170 3% 4887157 $ 99,762 $ 3,884 4% 4888021 $ 77,786 $ 3,426 4% 4887626 $ 146,511 $ 3,197 2% 4887106 $ 246,606 $ 7,589 3% 4886640 $ 180,785 $ 5,135 3% 4886599 $ 64,794 $ 2,161 3% 4887678 $ 135,817 $ 4,339 3% 4886746 $ 145,444 $ 4,652 3% 4890432 $ 592,086 $ 19,559 3% 4887689 $ 536,663 $ 12,624 2% 4890096 $ 189,106 $ 4,798 3% 4886887 $ 164,940 $ 4,047 2% 4890456 $ 296,352 $ 3,638 1% 4886994 $ 144,798 $ 4,488 3% 4890049 $ 134,383 $ 3,490 3% 4890426 $ 143,570 $ 4,958 3% 4887693 $ 296,439 $ 7,993 3% 4887714 $ 177,801 $ 5,180 3% 4886980 $ 268,836 $ 7,304 3% 4888729 $ 308,129 $ 7,818 3% 4888414 $ 103,999 $ 3,578 3% 4890333 $ 342,676 $ 10,280 3% 4887278 $ 164,900 $ 3,628 2% 4888406 $ 321,814 $ 8,032 2% 4890539 $ 304,459 $ 9,426 3% 4653210 $ 110,902 $ 3,096 3% 4888409 $ 397,924 $ 11,845 3% 4890884 $ 235,095 $ 6,574 3% 4887307 $ 228,000 $ 5,463 2% 4887458 $ 56,845 $ 2,270 4% 4887717 $ 156,814 $ 4,818 3% 4889911 $ 118,265 $ 4,581 4% 4890639 $ 416,200 $ 12,888 3% 4890902 $ 325,000 $ 9,087 3% 4887355 $ 223,900 $ 5,486 2% 4887491 $ 55,695 $ 2,112 4% 4890655 $ 456,458 $ 12,496 3% 4888826 $ 348,749 $ 10,802 3% 4890863 $ 401,958 $ 10,680 3% 4887276 $ 248,000 $ 6,324 3% 4887433 $ 61,783 $ 2,364 4% 4890889 $ 135,335 $ 1,782 1% 4890361 $ 311,622 $ 9,660 3% 4888302 $ 325,912 $ 11,395 3% 4890866 $ 131,191 $ 3,903 3% 4888415 $ 199,267 $ 6,843 3% 4888379 $ 306,256 $ 9,603 3% 4889225 $ 126,151 $ 3,840 3% 4889242 $ 167,668 $ 3,406 2% 4889249 $ 164,241 $ 4,292 3% 4889806 $ 312,000 $ 6,240 2% c 2004 The Murrayhill Company. All Rights Reserved. Section Three Analytics SAIL 2004-5 FICO Distribution by Status Mortgage Data Through: September 30, 2004 FICO Delinquency Percentage 500 Current 0.01 500 Delinquent 0.03 500 Paid Off 0.02 510 Current 0.022 510 Delinquent 0.045 510 Paid Off 0.039 520 Current 0.022 520 Delinquent 0.045 520 Paid Off 0.033 530 Current 0.032 530 Delinquent 0.053 530 Paid Off 0.035 540 Current 0.036 540 Delinquent 0.053 540 Paid Off 0.042 550 Current 0.034 550 Delinquent 0.083 550 Paid Off 0.033 560 Current 0.04 560 Delinquent 0.045 560 Paid Off 0.048 570 Current 0.032 570 Delinquent 0.015 570 Paid Off 0.044 580 Current 0.037 580 Delinquent 0.023 580 Paid Off 0.022 590 Current 0.038 590 Delinquent 0.023 590 Paid Off 0.061 600 Current 0.045 600 Delinquent 0.045 600 Paid Off 0.042 610 Current 0.044 610 Delinquent 0.061 610 Paid Off 0.066 620 Current 0.051 620 Delinquent 0.076 620 Paid Off 0.053 630 Current 0.065 630 Delinquent 0.045 630 Paid Off 0.066 640 Current 0.061 640 Delinquent 0.083 640 Paid Off 0.059 650 Current 0.062 650 Delinquent 0.053 650 Paid Off 0.048 660 Current 0.058 660 Delinquent 0.03 660 Paid Off 0.066 670 Current 0.052 670 Delinquent 0.023 670 Paid Off 0.05 680 Current 0.046 680 Delinquent 0.015 680 Paid Off 0.033 690 Current 0.043 690 Delinquent 0.008 690 Paid Off 0.037 700 Current 0.035 700 Delinquent 0.038 700 Paid Off 0.024 710 Current 0.032 710 Delinquent 0.015 710 Paid Off 0.024 720 Current 0.024 720 Delinquent 0.008 720 Paid Off 0.011 730 Current 0.016 730 Delinquent 0.03 730 Paid Off 0.013 740 Current 0.013 740 Delinquent 0.03 740 Paid Off 0.009 750 Current 0.016 750 Paid Off 0.007 760 Current 0.012 760 Delinquent 0.015 760 Paid Off 0.011 770 Current 0.011 770 Paid Off 0.002 780 Current 0.006 780 Paid Off 0.002 790 Current 0.004 790 Paid Off 0.002 800 Current 0.001 800 Delinquent 0.008 Status # of Loans Average Std. Deviation Current 3,829 630 66.532 Delinquent 132 608 69.723 Paid Off 457 615 63.345 Total: 4,418 SAIL 2004-5 Loan-to-Value Distribution by Status Mortgage Data Through: September 30, 2004 LTV Delinquency Percentage 0.1 Paid Off 0.013 0.1 Current 0.008 0.1 Delinquent 0.008 0.2 Current 0.085 0.2 Delinquent 0.045 0.2 Paid Off 0.063 0.3 Paid Off 0.007 0.3 Current 0.005 0.4 Paid Off 0.011 0.4 Delinquent 0.008 0.4 Current 0.014 0.5 Current 0.02 0.5 Paid Off 0.024 0.6 Current 0.049 0.6 Paid Off 0.048 0.7 Current 0.094 0.7 Delinquent 0.076 0.7 Paid Off 0.118 0.8 Current 0.356 0.8 Paid Off 0.354 0.8 Delinquent 0.386 0.9 Paid Off 0.267 0.9 Delinquent 0.28 0.9 Current 0.245 1 Delinquent 0.197 1 Paid Off 0.094 1 Current 0.124 Status # of Loans Average Std. Deviation Current 3,829 0.751 0.215 Delinquent 132 0.806 0.173 Paid Off 457 0.751 0.205 Total: 4,418 SAIL 2004-5 Balance Distribution by Status Mortgage Data Through: September 30, 2004 Balance Delinquency Percentage 0 Current 0.001 10000 Current 0.003 20000 Current 0.012 20000 Delinquent 0.008 30000 Current 0.021 30000 Delinquent 0.03 40000 Current 0.025 50000 Current 0.026 50000 Delinquent 0.038 60000 Current 0.036 60000 Delinquent 0.068 70000 Current 0.048 70000 Delinquent 0.061 80000 Current 0.048 80000 Delinquent 0.015 90000 Current 0.044 90000 Delinquent 0.03 100000 Current 0.047 100000 Delinquent 0.038 110000 Current 0.041 110000 Delinquent 0.038 120000 Current 0.045 120000 Delinquent 0.045 130000 Current 0.043 130000 Delinquent 0.068 140000 Current 0.039 140000 Delinquent 0.045 150000 Current 0.042 150000 Delinquent 0.023 160000 Current 0.033 160000 Delinquent 0.023 170000 Current 0.033 170000 Delinquent 0.045 180000 Current 0.03 180000 Delinquent 0.03 190000 Current 0.027 190000 Delinquent 0.023 200000 Current 0.028 200000 Delinquent 0.038 210000 Current 0.024 210000 Delinquent 0.03 220000 Current 0.024 230000 Current 0.02 240000 Current 0.015 240000 Delinquent 0.061 250000 Current 0.019 250000 Delinquent 0.023 260000 Current 0.015 260000 Delinquent 0.023 270000 Current 0.018 270000 Delinquent 0.008 280000 Current 0.013 280000 Delinquent 0.008 290000 Current 0.017 290000 Delinquent 0.015 300000 Current 0.01 310000 Current 0.011 310000 Delinquent 0.015 320000 Current 0.016 320000 Delinquent 0.008 330000 Current 0.01 330000 Delinquent 0.008 340000 Current 0.017 350000 Current 0.013 350000 Delinquent 0.015 360000 Current 0.01 360000 Delinquent 0.008 370000 Current 0.008 370000 Delinquent 0.023 380000 Current 0.005 380000 Delinquent 0.015 390000 Current 0.005 400000 Current 0.006 400000 Delinquent 0.008 410000 Current 0.005 420000 Current 0.004 430000 Current 0.003 440000 Current 0.005 440000 Delinquent 0.023 450000 Current 0.005 460000 Current 0.003 460000 Delinquent 0.008 470000 Current 0.005 470000 Delinquent 0.008 480000 Current 0.004 490000 Current 0.003 500000 Current 0.004 500000 Delinquent 0.008 510000 Current 0.001 510000 Delinquent 0.008 520000 Current 0.001 530000 Current 0 540000 Current 0.001 550000 Current 0.002 560000 Current 0.001 570000 Current 0 570000 Delinquent 0.008 580000 Current 0.001 590000 Current 0.001 600000 Current 0.001 620000 Current 0.001 620000 Delinquent 0.008 640000 Current 0.001 650000 Current 0.001 680000 Current 0 690000 Current 0 700000 Current 0.001 720000 Current 0 740000 Current 0 750000 Current 0 770000 Current 0 830000 Current 0 Status # of Loans Average Std. Deviation Current 3,829 179,893.38 117,727.52 Delinquent 132 185,580.19 124,121.25 Total: 3,961 SAIL 2004-5 Mortgage Type Distribution by Status Mortgage Data Through: September 30, 2004 Mortgage Type Delinquency Percentage Investment Home Current 0.127 Investment Home Delinquent 0.205 Investment Home Paid Off 0.133 Primary Home Current 0.862 Primary Home Delinquent 0.788 Primary Home Paid Off 0.864 Second Home Current 0.011 Second Home Delinquent 0.008 Second Home Paid Off 0.002 Mortgage Type Loan Count Total Balance Avg. Balance Std. Deviation ARM 3,361 591,355,095.11 175,946.18 125,996.94 Fixed 1,057 121,953,253.11 115,376.78 106,929.17 Total: 4,418 713,308,348.22 SAIL 2004-5 Mortgage Term Distribution by Status Mortgage Data Through: September 30, 2004 Mortgage Term Delinquency Percentage 120 Current 0 120 Paid Off 0.002 180 Paid Off 0.072 180 Current 0.088 180 Delinquent 0.061 240 Current 0.008 240 Paid Off 0.007 360 Paid Off 0.919 360 Current 0.904 360 Delinquent 0.939 # of Loans Other 120 180 240 360 4,418 0 2 378 33 4005 SAIL 2004-5 Mortgage Purpose Distribution Mortgage Data Through: September 30, 2004 Origination Statistics Number of Loans: 4,539 Purpose Number 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: 3,829 Purpose Number Percentage Cash-out refinance 1,948 50.9% Purchase 1,586 41.4% Rate/term 273 7.1% Home 21 0.5% Other 1 0.0% Total 3,829 100% Delinquent Loans Number of Loans: 132 Purpose Number Percentage Cash-out refinance 50 37.9% Purchase 70 53.0% Rate/term 12 9.1% Home 0 0.0% Other 0 0.0% Total 132 100% Paid Off Loans Number of Loans: 457 Purpose Number Percentage Cash-out refinance 256 56.0% Purchase 162 35.4% Rate/term 36 7.9% Home 3 0.7% Other 0 0.0% Total 457 100% SAIL 2004-5 Ownership Distribution by Status Mortgage Data Through: September 30, 2004 Ownership Type Delinquency Percentage Investment Home Current 0.127 Investment Home Delinquent 0.205 Investment Home Paid Off 0.133 Primary Home Current 0.862 Primary Home Delinquent 0.788 Primary Home Paid Off 0.864 Second Home Current 0.011 Second Home Delinquent 0.008 Second Home Paid Off 0.002 Title # of Loans Investment Home 573 Primary Home 3,800 Second Home 45 Total: 4,418 SAIL 2004-5 Delinquent Count Over Time Mortgage Data Through: September 30, 2004 Total Count in Status AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 5/31/2004 27 1 0 5 0 6/30/2004 40 9 0 7 0 7/31/2004 68 15 4 12 0 8/31/2004 63 26 6 22 0 9/30/2004 68 23 10 31 0 SAIL 2004-5 Delinquent Balance Over Time Mortgage Data Through: September 30, 2004 Total Balance in Status AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 5/31/2004 $4,348,317 $116,450 $0 $707,150 - 6/30/2004 $7,285,752 $1,790,310 $0 $1,042,203 - 7/31/2004 $12,605,945 $2,731,892 $836,617 $2,124,429 - 8/31/2004 $10,516,248 $4,528,173 $1,756,925 $3,381,220 - 9/30/2004 $11,287,287 $4,842,059 $2,138,377 $6,228,862 - SAIL 2004-5 Conditional Prepayment Rates Mortgage Data Through: September 30, 2004 Date * Distribution Date CPR 3-Month MA 6-Month MA 12-Month MA 30-Sep-04 25-Oct-04 38.65% 33.93% 31-Aug-04 25-Sep-04 34.38% 27.28% 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: September 30, 2004 Weighted Monthly Date Average Default Default CDR SDA SDA Age Amt Rate (F-R) Curve % 30-Sep-04 7.40 $0 0.00% 0.00% 0.15% 0% 31-Aug-04 6.42 $0 0.00% 0.00% 0.13% 0% 31-Jul-04 5.47 $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: 5.45 $0 0.00% 0.00% 0.11% 0% c 2004 The Murrayhill Company. All Rights Reserved.
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