-----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, MTE+h4owNviFtsLbYHvDceDOg2YoEvGdIukIZlOSPy3X+CJj/eIQcLKpx+WAGQam amsqBSWoOeLE2CAO/qFNpg== 0001056404-04-004100.txt : 20041202 0001056404-04-004100.hdr.sgml : 20041202 20041202084358 ACCESSION NUMBER: 0001056404-04-004100 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Structured Asset Investment Loan Trust 2004-9 CENTRAL INDEX KEY: 0001305129 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: 333-115858-22 FILM NUMBER: 041178908 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 sai04009_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 2004-9 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-115858-22 54-2161249 Pooling and Servicing Agreement) (Commission 54-2161250 (State or other File Number) IRS EIN jurisdiction of Incorporation) 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 2004-9 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 2004-9 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 2004-9 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: 11/30/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-9 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: 2004-9 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 86358EML7 SEN 2.17250% 361,061,238.34 697,249.37 6,179,026.24 A2 86358EMM5 SEN 2.45250% 85,916,000.00 187,296.88 0.00 A3 86358EMN3 SEN 2.08250% 318,644,472.32 589,846.32 8,050,563.49 A4 86358EMP8 SEN 2.23250% 135,148,000.00 268,193.70 0.00 A5 86358EMQ6 SEN 2.43250% 104,380,000.00 225,692.76 0.00 A6 86358EMS2 SEN 2.17250% 136,085,589.67 262,796.39 663,216.97 A7 86358EMT0 SEN 2.43250% 35,911,000.00 77,647.56 0.00 M1 86358EMR4 MEZ 2.58250% 63,615,000.00 146,031.77 0.00 M2 86358EMU7 MEZ 2.66250% 19,153,000.00 45,328.77 0.00 M3 86358EMV5 MEZ 3.08250% 26,677,000.00 73,094.98 0.00 M4 86358EMW3 MEZ 3.23250% 10,260,000.00 29,480.40 0.00 M5 86358EMX1 MEZ 3.68250% 10,260,000.00 33,584.40 0.00 M6 86358EMY9 MEZ 3.78250% 10,260,000.00 34,496.40 0.00 M7 86358EMZ6 MEZ 4.43250% 13,681,000.00 53,903.14 0.00 B1 86358ENA0 SUB 5.00000% 11,628,000.00 48,450.00 0.00 B2 86358ENB8 SUB 5.00000% 6,840,000.00 28,500.00 0.00 X SAI04009X RES 0.00000% 6,841,082.53 4,117,395.71 0.00 P SAI04009P SEN 0.00000% 100.00 174,350.97 0.00 R1 SAI0409R1 RES 0.00000% 0.00 0.00 0.00 R2 SAI0409R2 RES 0.00000% 0.00 0.00 0.00 Totals 1,356,361,482.86 7,093,339.52 14,892,806.70
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 354,882,212.10 6,876,275.61 0.00 A2 0.00 85,916,000.00 187,296.88 0.00 A3 0.00 310,593,908.83 8,640,409.81 0.00 A4 0.00 135,148,000.00 268,193.70 0.00 A5 0.00 104,380,000.00 225,692.76 0.00 A6 0.00 135,422,372.70 926,013.36 0.00 A7 0.00 35,911,000.00 77,647.56 0.00 M1 0.00 63,615,000.00 146,031.77 0.00 M2 0.00 19,153,000.00 45,328.77 0.00 M3 0.00 26,677,000.00 73,094.98 0.00 M4 0.00 10,260,000.00 29,480.40 0.00 M5 0.00 10,260,000.00 33,584.40 0.00 M6 0.00 10,260,000.00 34,496.40 0.00 M7 0.00 13,681,000.00 53,903.14 0.00 B1 0.00 11,628,000.00 48,450.00 0.00 B2 0.00 6,840,000.00 28,500.00 0.00 X 0.00 6,841,082.53 4,117,395.71 0.00 P 0.00 100.00 174,350.97 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 Totals 0.00 1,341,468,676.16 21,986,146.22 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 363,707,000.00 361,061,238.34 0.00 6,179,026.24 0.00 0.00 A2 85,916,000.00 85,916,000.00 0.00 0.00 0.00 0.00 A3 324,565,000.00 318,644,472.32 0.00 8,050,563.49 0.00 0.00 A4 135,148,000.00 135,148,000.00 0.00 0.00 0.00 0.00 A5 104,380,000.00 104,380,000.00 0.00 0.00 0.00 0.00 A6 139,214,000.00 136,085,589.67 0.00 663,216.97 0.00 0.00 A7 35,911,000.00 35,911,000.00 0.00 0.00 0.00 0.00 M1 63,615,000.00 63,615,000.00 0.00 0.00 0.00 0.00 M2 19,153,000.00 19,153,000.00 0.00 0.00 0.00 0.00 M3 26,677,000.00 26,677,000.00 0.00 0.00 0.00 0.00 M4 10,260,000.00 10,260,000.00 0.00 0.00 0.00 0.00 M5 10,260,000.00 10,260,000.00 0.00 0.00 0.00 0.00 M6 10,260,000.00 10,260,000.00 0.00 0.00 0.00 0.00 M7 13,681,000.00 13,681,000.00 0.00 0.00 0.00 0.00 B1 11,628,000.00 11,628,000.00 0.00 0.00 0.00 0.00 B2 6,840,000.00 6,840,000.00 0.00 0.00 0.00 0.00 X 6,841,082.53 6,841,082.53 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,368,056,182.53 1,356,361,482.86 0.00 14,892,806.70 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 6,179,026.24 354,882,212.10 0.97573655 6,179,026.24 A2 0.00 85,916,000.00 1.00000000 0.00 A3 8,050,563.49 310,593,908.83 0.95695441 8,050,563.49 A4 0.00 135,148,000.00 1.00000000 0.00 A5 0.00 104,380,000.00 1.00000000 0.00 A6 663,216.97 135,422,372.70 0.97276404 663,216.97 A7 0.00 35,911,000.00 1.00000000 0.00 M1 0.00 63,615,000.00 1.00000000 0.00 M2 0.00 19,153,000.00 1.00000000 0.00 M3 0.00 26,677,000.00 1.00000000 0.00 M4 0.00 10,260,000.00 1.00000000 0.00 M5 0.00 10,260,000.00 1.00000000 0.00 M6 0.00 10,260,000.00 1.00000000 0.00 M7 0.00 13,681,000.00 1.00000000 0.00 B1 0.00 11,628,000.00 1.00000000 0.00 B2 0.00 6,840,000.00 1.00000000 0.00 X 0.00 6,841,082.53 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 Totals 14,892,806.70 1,341,468,676.16 0.98056549 14,892,806.70
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 363,707,000.00 992.72556849 0.00000000 16.98902204 0.00000000 A2 85,916,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A3 324,565,000.00 981.75857631 0.00000000 24.80416400 0.00000000 A4 135,148,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A5 104,380,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A6 139,214,000.00 977.52804797 0.00000000 4.76401059 0.00000000 A7 35,911,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 63,615,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 19,153,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 26,677,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 10,260,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 10,260,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 10,260,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 13,681,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 11,628,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 6,840,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 6,841,082.53 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 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 16.98902204 975.73654645 0.97573655 16.98902204 A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A3 0.00000000 24.80416400 956.95441231 0.95695441 24.80416400 A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A6 0.00000000 4.76401059 972.76403738 0.97276404 4.76401059 A7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B2 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 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 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 363,707,000.00 2.17250% 361,061,238.34 697,249.37 0.00 0.00 A2 85,916,000.00 2.45250% 85,916,000.00 187,296.88 0.00 0.00 A3 324,565,000.00 2.08250% 318,644,472.32 589,846.32 0.00 0.00 A4 135,148,000.00 2.23250% 135,148,000.00 268,193.70 0.00 0.00 A5 104,380,000.00 2.43250% 104,380,000.00 225,692.76 0.00 0.00 A6 139,214,000.00 2.17250% 136,085,589.67 262,796.39 0.00 0.00 A7 35,911,000.00 2.43250% 35,911,000.00 77,647.56 0.00 0.00 M1 63,615,000.00 2.58250% 63,615,000.00 146,031.77 0.00 0.00 M2 19,153,000.00 2.66250% 19,153,000.00 45,328.77 0.00 0.00 M3 26,677,000.00 3.08250% 26,677,000.00 73,094.98 0.00 0.00 M4 10,260,000.00 3.23250% 10,260,000.00 29,480.40 0.00 0.00 M5 10,260,000.00 3.68250% 10,260,000.00 33,584.40 0.00 0.00 M6 10,260,000.00 3.78250% 10,260,000.00 34,496.40 0.00 0.00 M7 13,681,000.00 4.43250% 13,681,000.00 53,903.14 0.00 0.00 B1 11,628,000.00 5.00000% 11,628,000.00 48,450.00 0.00 0.00 B2 6,840,000.00 5.00000% 6,840,000.00 28,500.00 0.00 0.00 X 6,841,082.53 0.00000% 1,356,361,482.86 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,368,056,182.53 2,801,592.84 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 0.00 697,249.37 0.00 354,882,212.10 A2 0.00 0.00 187,296.88 0.00 85,916,000.00 A3 0.00 0.00 589,846.32 0.00 310,593,908.83 A4 0.00 0.00 268,193.70 0.00 135,148,000.00 A5 0.00 0.00 225,692.76 0.00 104,380,000.00 A6 0.00 0.00 262,796.39 0.00 135,422,372.70 A7 0.00 0.00 77,647.56 0.00 35,911,000.00 M1 0.00 0.00 146,031.77 0.00 63,615,000.00 M2 0.00 0.00 45,328.77 0.00 19,153,000.00 M3 0.00 0.00 73,094.98 0.00 26,677,000.00 M4 0.00 0.00 29,480.40 0.00 10,260,000.00 M5 0.00 0.00 33,584.40 0.00 10,260,000.00 M6 0.00 0.00 34,496.40 0.00 10,260,000.00 M7 0.00 0.00 53,903.14 0.00 13,681,000.00 B1 0.00 0.00 48,450.00 0.00 11,628,000.00 B2 0.00 0.00 28,500.00 0.00 6,840,000.00 X 0.00 0.00 4,117,395.71 0.00 1,341,468,676.16 P 0.00 0.00 174,350.97 0.00 100.00 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 7,093,339.52 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 363,707,000.00 2.17250% 992.72556849 1.91706338 0.00000000 0.00000000 A2 85,916,000.00 2.45250% 1000.00000000 2.18000000 0.00000000 0.00000000 A3 324,565,000.00 2.08250% 981.75857631 1.81734420 0.00000000 0.00000000 A4 135,148,000.00 2.23250% 1000.00000000 1.98444446 0.00000000 0.00000000 A5 104,380,000.00 2.43250% 1000.00000000 2.16222226 0.00000000 0.00000000 A6 139,214,000.00 2.17250% 977.52804797 1.88771524 0.00000000 0.00000000 A7 35,911,000.00 2.43250% 1000.00000000 2.16222216 0.00000000 0.00000000 M1 63,615,000.00 2.58250% 1000.00000000 2.29555561 0.00000000 0.00000000 M2 19,153,000.00 2.66250% 1000.00000000 2.36666684 0.00000000 0.00000000 M3 26,677,000.00 3.08250% 1000.00000000 2.74000000 0.00000000 0.00000000 M4 10,260,000.00 3.23250% 1000.00000000 2.87333333 0.00000000 0.00000000 M5 10,260,000.00 3.68250% 1000.00000000 3.27333333 0.00000000 0.00000000 M6 10,260,000.00 3.78250% 1000.00000000 3.36222222 0.00000000 0.00000000 M7 13,681,000.00 4.43250% 1000.00000000 3.94000000 0.00000000 0.00000000 B1 11,628,000.00 5.00000% 1000.00000000 4.16666667 0.00000000 0.00000000 B2 6,840,000.00 5.00000% 1000.00000000 4.16666667 0.00000000 0.00000000 X 6,841,082.53 0.00000% 198267.08374179 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 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 1.91706338 0.00000000 975.73654645 A2 0.00000000 0.00000000 2.18000000 0.00000000 1000.00000000 A3 0.00000000 0.00000000 1.81734420 0.00000000 956.95441231 A4 0.00000000 0.00000000 1.98444446 0.00000000 1000.00000000 A5 0.00000000 0.00000000 2.16222226 0.00000000 1000.00000000 A6 0.00000000 0.00000000 1.88771524 0.00000000 972.76403738 A7 0.00000000 0.00000000 2.16222216 0.00000000 1000.00000000 M1 0.00000000 0.00000000 2.29555561 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.36666684 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.74000000 0.00000000 1000.00000000 M4 0.00000000 0.00000000 2.87333333 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.27333333 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.36222222 0.00000000 1000.00000000 M7 0.00000000 0.00000000 3.94000000 0.00000000 1000.00000000 B1 0.00000000 0.00000000 4.16666667 0.00000000 1000.00000000 B2 0.00000000 0.00000000 4.16666667 0.00000000 1000.00000000 X 0.00000000 0.00000000 601.86318349 0.00000000 196090.11735749 P 0.00000000 0.00000000 1743509.70000000 0.00000000 1000.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 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 23,120,253.83 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 23,120,253.83 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 1,134,107.61 Payment of Interest and Principal 21,986,146.22 Total Withdrawals (Pool Distribution Amount) 23,120,253.83 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 508,215.65 Credit Risk Manager Fee 12,433.31 PMI Insurance Premium Fee 612,328.35 Securities Administration Fee 1,130.30 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 1,134,107.61
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 0.00 0.00 1,000.00 Financial Guaranty 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 2 0 0 2 725,216.88 0.00 0.00 725,216.88 30 Days 47 0 0 0 47 8,175,661.53 0.00 0.00 0.00 8,175,661.53 60 Days 5 0 1 0 6 2,200,045.54 0.00 440,000.00 0.00 2,640,045.54 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 52 2 1 0 55 10,375,707.07 725,216.88 440,000.00 0.00 11,540,923.95 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 0.027847% 0.000000% 0.000000% 0.027847% 0.054027% 0.000000% 0.000000% 0.054027% 30 Days 0.654414% 0.000000% 0.000000% 0.000000% 0.654414% 0.609065% 0.000000% 0.000000% 0.000000% 0.609065% 60 Days 0.069618% 0.000000% 0.013924% 0.000000% 0.083542% 0.163898% 0.000000% 0.032779% 0.000000% 0.196676% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.724032% 0.027847% 0.013924% 0.000000% 0.765803% 0.772963% 0.054027% 0.032779% 0.000000% 0.859769%
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 1 191,836.05 0.00 0.00 191,836.05 30 Days 6 0 0 0 6 703,994.50 0.00 0.00 0.00 703,994.50 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 6 1 0 0 7 703,994.50 191,836.05 0.00 0.00 895,830.55 0-29 Days 0.111111% 0.000000% 0.000000% 0.111111% 0.160611% 0.000000% 0.000000% 0.160611% 30 Days 0.666667% 0.000000% 0.000000% 0.000000% 0.666667% 0.589406% 0.000000% 0.000000% 0.000000% 0.589406% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.666667% 0.111111% 0.000000% 0.000000% 0.777778% 0.589406% 0.160611% 0.000000% 0.000000% 0.750017% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(B) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 13 0 0 0 13 2,549,098.13 0.00 0.00 0.00 2,549,098.13 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 13 0 0 0 13 2,549,098.13 0.00 0.00 0.00 2,549,098.13 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.621118% 0.000000% 0.000000% 0.000000% 0.621118% 0.654469% 0.000000% 0.000000% 0.000000% 0.654469% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.621118% 0.000000% 0.000000% 0.000000% 0.621118% 0.654469% 0.000000% 0.000000% 0.000000% 0.654469% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(A) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2 0 0 0 2 402,453.35 0.00 0.00 0.00 402,453.35 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2 0 0 0 2 402,453.35 0.00 0.00 0.00 402,453.35 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.189934% 0.000000% 0.000000% 0.000000% 0.189934% 0.261145% 0.000000% 0.000000% 0.000000% 0.261145% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.189934% 0.000000% 0.000000% 0.000000% 0.189934% 0.261145% 0.000000% 0.000000% 0.000000% 0.261145% 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 1 0 0 1 533,380.83 0.00 0.00 533,380.83 30 Days 22 0 0 0 22 3,333,955.44 0.00 0.00 0.00 3,333,955.44 60 Days 4 0 1 0 5 1,650,045.54 0.00 440,000.00 0.00 2,090,045.54 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 26 1 1 0 28 4,984,000.98 533,380.83 440,000.00 0.00 5,957,381.81 0-29 Days 0.047962% 0.000000% 0.000000% 0.047962% 0.110788% 0.000000% 0.000000% 0.110788% 30 Days 1.055156% 0.000000% 0.000000% 0.000000% 1.055156% 0.692490% 0.000000% 0.000000% 0.000000% 0.692490% 60 Days 0.191847% 0.000000% 0.047962% 0.000000% 0.239808% 0.342728% 0.000000% 0.091392% 0.000000% 0.434120% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.247002% 0.047962% 0.047962% 0.000000% 1.342926% 1.035218% 0.110788% 0.091392% 0.000000% 1.237397% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3(A) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2 0 0 0 2 521,476.46 0.00 0.00 0.00 521,476.46 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2 0 0 0 2 521,476.46 0.00 0.00 0.00 521,476.46 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.365631% 0.000000% 0.000000% 0.000000% 0.365631% 0.873568% 0.000000% 0.000000% 0.000000% 0.873568% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.365631% 0.000000% 0.000000% 0.000000% 0.365631% 0.873568% 0.000000% 0.000000% 0.000000% 0.873568% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3(B) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2 0 0 0 2 664,683.65 0.00 0.00 0.00 664,683.65 60 Days 1 0 0 0 1 550,000.00 0.00 0.00 0.00 550,000.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 3 0 0 0 3 1,214,683.65 0.00 0.00 0.00 1,214,683.65 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.396825% 0.000000% 0.000000% 0.000000% 0.396825% 0.481147% 0.000000% 0.000000% 0.000000% 0.481147% 60 Days 0.198413% 0.000000% 0.000000% 0.000000% 0.198413% 0.398130% 0.000000% 0.000000% 0.000000% 0.398130% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.595238% 0.000000% 0.000000% 0.000000% 0.595238% 0.879277% 0.000000% 0.000000% 0.000000% 0.879277%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.124735% Weighted Average Net Coupon 6.675107% Weighted Average Pass-Through Rate 6.132368% Weighted Average Maturity(Stepdown Calculation ) 351 Beginning Scheduled Collateral Loan Count 7,244 Number Of Loans Paid In Full 62 Ending Scheduled Collateral Loan Count 7,182 Beginning Scheduled Collateral Balance 1,356,361,482.86 Ending Scheduled Collateral Balance 1,341,468,676.16 Ending Actual Collateral Balance at 31-Oct-2004 1,342,329,119.03 Monthly P &I Constant 9,001,784.74 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 948,687.88 Unscheduled Principal 13,944,118.82
Miscellaneous Reporting Monthly Excess Cashflow 4,117,395.71 Overcollateralization Amount 6,841,182.53 Overcollateralization Deficiency 0.00 Targeted Overcollateralization Amount 6,841,182.53 Pool 1 Cap Payment 0.00 Class A6 Cap Payment 0.00 General Cap Payment 0.00
Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.548817 7.018342 6.983942 Weighted Average Net Rate 7.109608 6.584677 6.494857 Weighted Average Maturity 351 351 347 Beginning Loan Count 904 2,118 1,059 Loans Paid In Full 4 25 6 Ending Loan Count 900 2,093 1,053 Beginning Scheduled Balance 119,933,494.28 394,823,021.13 155,121,318.86 Ending scheduled Balance 119,350,460.94 389,227,028.23 153,989,707.33 Record Date 10/31/2004 10/31/2004 10/31/2004 Principal And Interest Constant 859,611.43 2,597,664.46 1,050,231.19 Scheduled Principal 105,148.07 288,495.16 147,432.63 Unscheduled Principal 477,885.27 5,307,497.74 984,178.90 Scheduled Interest 754,463.36 2,309,169.30 902,798.56 Servicing Fees 43,896.56 142,684.16 63,222.87 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 99.94 329.02 129.27 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 47,616.78 204,500.06 13,383.27 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 662,850.08 1,961,656.06 826,063.15 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 6.632176 5.962133 6.390326
Group Level Collateral Statement Group 2(B) 3(A) 3(B) Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.103365 8.040331 6.899309 Weighted Average Net Rate 6.654167 7.581667 6.441728 Weighted Average Maturity 347 346 346 Beginning Loan Count 2,108 548 507 Loans Paid In Full 23 1 3 Ending Loan Count 2,085 547 504 Beginning Scheduled Balance 488,087,822.86 59,717,435.54 138,678,390.19 Ending scheduled Balance 481,168,870.90 59,650,673.32 138,081,935.44 Record Date 10/31/2004 10/31/2004 10/31/2004 Principal And Interest Constant 3,172,605.38 453,389.47 868,282.81 Scheduled Principal 283,383.89 53,266.18 70,961.95 Unscheduled Principal 6,635,568.07 13,496.04 525,492.80 Scheduled Interest 2,889,221.49 400,123.29 797,320.86 Servicing Fees 182,706.39 22,825.22 52,880.45 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 406.74 49.76 115.57 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 230,106.92 12,349.05 104,372.27 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 2,476,001.44 364,899.26 639,952.57 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 6.087433 7.332517 5.537583
Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 7.124735 Weighted Average Net Rate 6.675107 Weighted Average Maturity 351.00 Record Date 10/31/2004 Principal And Interest Constant 9,001,784.74 Beginning Loan Count 7,244 Loans Paid In Full 62 Ending Loan Count 7,182 Beginning Scheduled Balance 1,356,361,482.86 Ending Scheduled Balance 1,341,468,676.16 Scheduled Principal 948,687.88 Unscheduled Principal 13,944,118.82 Scheduled Interest 8,053,096.86 Servicing Fee 508,215.65 Master Servicing Fee 0.00 Trustee Fee 1,130.30 Fry Amount 0.00 Special Hazard Fee 0.00 Other Fee 612,328.35 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 6,931,422.56 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 6.132368
EX-99.2
theMurrayhillcompany SAIL 2004-9 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 2004-9 Transaction Summary October 2004 Transaction Summary Closing Date 9/30/2004 Depositor Structured Asset Securities Corporation Trustee LaSalle Bank National Association Securities Administrator Wells Fargo Bank, N.A. Master Servicer Aurora Loan Services Master Servicing Aurora Loan Services, Chase Manhattan Mortgage Servicers Corporation , Ocwen Federal Bank FSB , Option One Mortgage, Wells Fargo Bank, N.A. Mortgage Insurer Mortgage Guaranty Insurance Corporation Delinquency Reporting Method OTS1 Collateral Summary Closing Date 9/30/20042 9/30/2004 as a Percentage of Closing Date Collateral Balance $1,369,646,768 $554,449,987 40.48% Loan Count 7,285 3,090 42.42% Collateral Statistics Loan Count Summed Balance Repurchases3 0 $0 First Payment Defaults 3 $1,322,000 Early Payment Defaults 4 4 $1,403,665 Multiple Loans to One Borrower 0 $0 Second Lien Statistics Loan Count Summed Balance Outstanding Second Lien Loans 56 $2,602,918 30 Days Delinquent 0 $0 60 Days Delinquent 0 $0 90+ Days Delinquent 0 $0 1 OTS Method: A current loan becomes 30 days delinquent if the scheduled payment is not made by the close of business on the corresponding day of the following month. Similarly for 60 days delinquent and the second immediately succeeding month and 90 days delinquent and the third immediately succeeding month. 2 These figures are based upon information provided to Murrayhill by the servicers on a monthly basis. Murrayhill did not receive data from one servicer for this reporting cycle. 3 Refers to loans repurchased in the current month 4 A default that occurs on the second or third scheduled payment c 2004 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for SAIL 2004-9 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 TOTAL $85,554 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 P Class $85,554 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: $85,554 Amount remitted to the P Class: $85,554 Difference: $0 Aggregate Paid-Off Loans Report for SAIL 2004-9 Mortgage Data Through: September 30, 2004 Trustee Remittance Date 25-Oct-04 Loans with Active Prepayment Flags with Premiums 6 Remitted (A) Loans without Prepayment Flags wtih Premiums Remitted 0 Total Loans with Remitted Premiums (B) 6 Loans with Active Prepayment Flags (C) 6 Loans without Prepayment Flags with Premiums Remitted 0 Subtotal (D) 6 Premiums Remitted for loans with Active Prepayment 100.0% Flags (A/C) Total Loans with Premiums Remitted to the Subtotal (B/D) 100.0% Total Paid-Off Loans (E) 16 Total Loans with Premiums Remitted to the Total Paid-Off 37.5% Loans (B/E) Paid-Off Loans Exception Report for SAIL 2004-9 Mortgage Data Through: September 30, 2004 Total Total Paid-Off Loans with Flags 6 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 were 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 were Liquidated Through Loss Mitigation Efforts* 0 Total Paid-Off Loans with Active Prepayment Flags (C) 6 Other Exceptions: Paid-Off Loans that Did Not have Premiums Collected because of State Statutes 0 Paid-Off Loans with Active Prepayment Flags that Have Not Remitted Premiums 0 * These categories are mutually exclusive. Paid-Off Loans With Prepayment Flags for SAIL 2004-9 Mortgage Data Through: September 30, 2004 % of Delinquency Origination PPP Payoff PPP Premium to No Premium PPP Loan Number String Date Flag Exp. Date Balance Remitted Payoff Collected, w/ Collected, Comments Balance Flag No Flag 5548659 0 9/6/2002 5 9/5/2007 $612,170 $17,130 3% 5548634 0 6/10/2004 2 6/10/2006 $330,991 $12,398 4% 5548635 0 6/15/2004 2 6/15/2006 $244,547 $8,275 3% 5549897 0 8/13/2004 2 8/13/2006 $154,406 $5,247 3% 5548279 0 6/3/2004 3 6/3/2007 $131,657 $3,556 3% 5548779 0 7/26/2004 1 7/26/2005 $49,929 $1,547 3% c 2004 The Murrayhill Company. All Rights Reserved. Section Three Analytics SAil 2004-9 FICO Distribution by Status Mortgage Data Through: September 30, 2004 FICO Delinquency Percentage 500 Current 0.004 510 Current 0.01 520 Current 0.027 530 Current 0.028 540 Current 0.031 550 Current 0.035 550 Delinquent 0.125 550 Paid Off 0.05 560 Current 0.034 560 Paid Off 0.1 570 Current 0.039 580 Current 0.051 580 Delinquent 0.25 590 Current 0.042 600 Current 0.045 600 Paid Off 0.05 610 Current 0.066 610 Paid Off 0.1 620 Current 0.063 620 Paid Off 0.2 630 Current 0.065 630 Delinquent 0.125 640 Current 0.059 640 Paid Off 0.05 650 Current 0.055 650 Paid Off 0.1 660 Current 0.045 660 Delinquent 0.125 660 Paid Off 0.05 670 Current 0.045 670 Paid Off 0.05 680 Current 0.044 680 Paid Off 0.05 690 Current 0.029 690 Paid Off 0.05 700 Current 0.027 700 Delinquent 0.125 710 Current 0.026 710 Paid Off 0.05 720 Current 0.025 730 Current 0.023 740 Current 0.018 740 Delinquent 0.125 740 Paid Off 0.05 750 Current 0.016 750 Paid Off 0.05 760 Current 0.013 770 Current 0.016 770 Delinquent 0.125 780 Current 0.007 790 Current 0.008 800 Current 0.003 810 Current 0.001 # of Std. Status Loans Average Deviation Current 3,082 631 68.095 Delinquent 8 650 80.747 Paid Off 20 639 54.413 Total: 3,110 Sail 2004-9 Loan-to-Value Distribution by Status Mortgage Data Through: September 30, 2004 LTV Delinquency Percentage 0.1 Current 0.003 0.2 Current 0.066 0.2 Paid Off 0.1 0.3 Paid Off 0.05 0.3 Current 0.007 0.4 Paid Off 0.05 0.4 Current 0.015 0.5 Current 0.037 0.5 Paid Off 0.05 0.6 Current 0.069 0.6 Paid Off 0.15 0.6 Delinquent 0.125 0.7 Paid Off 0.15 0.7 Delinquent 0.125 0.7 Current 0.137 0.8 Paid Off 0.25 0.8 Delinquent 0.5 0.8 Current 0.431 0.9 Paid Off 0.2 0.9 Current 0.2 1 Delinquent 0.25 1 Current 0.036 # of Std. Status Loans Average Deviation Current 3,082 0.731 0.186 Delinquent 8 0.793 0.143 Paid Off 20 0.653 0.231 Total: 3,110 Copyright 2004, TheMurrayhill Company. All rights reserved. Sail 2004-9 Balance Distribution by Status Mortgage Data Through: September 30, 2004 Balance Delinquency Percentage 10000 Current 0.001 20000 Current 0.01 30000 Current 0.029 40000 Current 0.039 50000 Current 0.035 60000 Current 0.051 70000 Current 0.036 80000 Current 0.045 90000 Current 0.043 100000 Current 0.046 110000 Current 0.042 110000 Delinquent 0.125 120000 Current 0.049 130000 Current 0.039 140000 Current 0.039 150000 Current 0.037 160000 Current 0.033 170000 Current 0.03 180000 Current 0.03 190000 Current 0.027 200000 Current 0.028 210000 Current 0.024 220000 Current 0.028 220000 Delinquent 0.125 230000 Current 0.014 240000 Current 0.013 250000 Current 0.019 260000 Current 0.018 270000 Current 0.011 280000 Current 0.013 290000 Current 0.009 300000 Current 0.014 310000 Current 0.01 320000 Current 0.008 320000 Delinquent 0.25 330000 Current 0.009 340000 Current 0.007 340000 Delinquent 0.125 350000 Current 0.009 360000 Current 0.009 370000 Current 0.006 380000 Current 0.008 390000 Current 0.005 400000 Current 0.008 410000 Current 0.004 420000 Current 0.003 430000 Current 0.003 440000 Current 0.005 440000 Delinquent 0.125 450000 Current 0.005 460000 Current 0.005 470000 Current 0.004 480000 Current 0.002 490000 Current 0.002 500000 Current 0.005 510000 Current 0.002 520000 Current 0.001 530000 Current 0.002 540000 Current 0.002 550000 Current 0.003 550000 Delinquent 0.125 560000 Current 0.003 570000 Current 0.002 580000 Current 0.002 590000 Current 0.002 600000 Current 0.002 610000 Current 0.001 620000 Current 0.002 630000 Current 0 640000 Current 0.001 650000 Current 0.002 670000 Current 0.001 680000 Current 0.001 700000 Current 0.001 740000 Current 0 750000 Current 0.001 750000 Delinquent 0.125 790000 Current 0 820000 Current 0 870000 Current 0 940000 Current 0 # of Std. Status Loans Average Deviation Current 3,082 178,908.97 129,969.71 Delinquent 8 381,567.76 197,714.26 Total: 3,090 Sail 2004-9 Mortgage Type Distribution by Status Mortgage Data Through: September 30, 2004 Mortgage Type Delinquency Percentage Investment Home Current 0.134 Investment Home Paid Off 0.25 Primary Home Current 0.855 Primary Home Delinquent 1 Primary Home Paid Off 0.7 Second Home Current 0.011 Second Home Paid Off 0.05 Mortgage Loan Total Avg Std. Type Count Balance Balance Deviation ARM 1,814 368,862,362.08 203,341.99 137,250.37 Balloon 265 21,722,294.62 81,970.92 65,980.36 Fixed 1,031 163,865,330.66 158,938.25 116,588.75 Total: 3,110 554,449,987.36 Sail 2004-9 Mortgage Term Distribution by Status Mortgage Data Through: September 30, 2004 Mortgage Term Delinquency Percentage 120 Current 0.001 180 Current 0.123 180 Paid Off 0.15 240 Current 0.006 300 Current 0.001 360 Current 0.869 360 Delinquent 1 360 Paid Off 0.85 # of Loans Other 120 180 240 300 360 3,110 0 2 381 20 4 2,703 Sail 2004-9 Mortgage Purpose Distribution Mortgage Data Through: September 30, 2004 Origination Statistics Number of Loans: 7,285 Purpose Number Percentage Cash-out refinance 3,352 46.0% Purchase 3,141 43.1% Rate/term 567 7.8% Home 62 0.9% Other 163 2.2% Total 7,285 100% Current Loans Number of Loans: 3,082 Purpose Number Percentage Cash-out refinance 1,473 47.8% Purchase 1,194 38.7% Rate/term 251 8.1% Home 2 0.1% Other 162 5.3% Total 3,082 100% Delinquent Loans Number of Loans: 8 Purpose Number Percentage Cash-out refinance 4 50.0% Purchase 4 50.0% Rate/term 0 0.0% Home 0 0.0% Other 0 0.0% Total 8 100% Paid Off Loans Number of Loans: 20 Purpose Number Percentage Cash-out refinance 8 40.0% Purchase 8 40.0% Rate/term 2 10.0% Home 1 5.0% Other 1 5.0% Total 1,761 100% c 2004 The Murrayhill Company. All Rights Reserved. Sail 2004-9 Ownership Distribution by Status Mortgage Data Through: September 30, 2004 Ownership Type Delinquency Percentage Investment Home Current 0.134 Investment Home Paid Off 0.25 Primary Home Current 0.855 Primary Home Delinquent 1 Primary Home Paid Off 0.7 Second Home Current 0.011 Second Home Paid Off 0.05 Title # of Loans Investment Home 419 Primary Home 2,656 Second Home 35 Total: 3,110 Sail 2004-9 Delinquent Count Over Time Mortgage Data Through: September 30, 2004 Total Count in Status AsOfDate 30 Days 60 Days 90 Days 9/30/2004 7 1 0 AsOfDate Foreclosure REO 9/30/2004 0 0 Sail 2004-9 Delinquent Balance Over Time Mortgage Data Through: September 30, 2004 Total Balance in Status AsOfDate 30 Days 60 Days 90 Days 9/30/2004 $2,733,095 $319,447 $0 AsOfDate Foreclosure REO 9/30/2004 - - Sail 2004-9 Conditional Prepayment Rates Mortgage Data Through: September 30, 2004 Distribution 3-Month 6-Month 12-Month Date * Date CPR MA MA MA 30-Sep-04 25-Oct-04 9.08% - - - * Datain table is displayed for only the most recent 18 months. Sail 2004-9 Historical SDA Performance Mortgage Data Through: September 30, 2004 Weighted Monthly Average Default Default CDR SDA SDA Date Age Amt Rate (F-R) Curve % 30-Sep-04 1.01 $0 0.00% 0.00% 0.02% 0% Averages: 1.01 $0 0.00% 0.00% 0.02% 0%
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