-----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, RYU9McJVc4JOk9xxffnmSZNMRpVDh68nnvlO2IshQc7jeAWV5vQ3hAUcKfPMdPUB FtltApgQLEyA1lZ+UUyPEg== 0001056404-04-004578.txt : 20041230 0001056404-04-004578.hdr.sgml : 20041230 20041230093709 ACCESSION NUMBER: 0001056404-04-004578 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041228 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041230 DATE AS OF CHANGE: 20041230 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Structured Asset Investment Loan Trust 2004-10 CENTRAL INDEX KEY: 0001307628 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-115858-30 FILM NUMBER: 041232536 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 sai04010_dec.txt DECEMBER 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 27, 2004 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-10 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-115858-30 54-2162651 Pooling and Servicing Agreement) (Commission 54-2162652 (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 December 27, 2004 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2004-10 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 2004-10 Trust, relating to the December 27, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-10 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 12/28/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-10 Trust, relating to the December 27, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report EX-99.1
Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 11/30/2004 Distribution Date: 12/27/2004 Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Series 2004-10 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 86358ENR3 SEN 2.45000% 507,090,643.52 1,069,820.40 7,271,199.60 A2 86358ENS1 SEN 2.71000% 108,156,000.00 252,394.04 0.00 A3 86358ENT9 SEN 2.43000% 244,869,275.72 512,388.96 5,117,513.11 A4 86358ENU6 SEN 2.68000% 55,262,000.00 127,532.42 0.00 A5 86358ENV4 SEN 2.34000% 353,996,832.19 713,303.62 9,800,440.67 A6 86358ENW2 SEN 2.50000% 149,548,000.00 321,943.61 0.00 A7 86358ENX0 SEN 2.71000% 111,139,000.00 259,355.21 0.00 A8 86358ENY8 SEN 2.44000% 244,370,329.19 513,449.21 2,180,904.97 A9 86358ENZ5 SEN 2.71000% 56,514,000.00 131,881.70 0.00 A10 86358EPA8 SEN 2.63000% 100,000,000.00 226,472.22 0.00 A11 86358EPB6 SEN 2.93000% 32,251,000.00 81,371.06 0.00 M1 86358EPC4 MEZ 3.03000% 62,362,000.00 162,712.85 0.00 M2 86358EPD2 MEZ 3.33000% 47,309,000.00 135,658.56 0.00 M3 86358EPE0 MEZ 3.48000% 13,978,000.00 41,887.41 0.00 M4 86358EPF7 MEZ 3.73000% 13,978,000.00 44,896.56 0.00 M5 86358EPG5 MEZ 4.18000% 15,053,000.00 54,182.44 0.00 M6 86358EPH3 MEZ 4.53000% 6,451,000.00 25,164.28 0.00 M7 86358EPJ9 MEZ 4.68000% 4,301,000.00 17,333.03 0.00 P SAI04010P SEN 0.00000% 100.00 242,561.57 0.00 X SAI04010X RES 0.00000% 10,751,318.16 6,895,236.22 0.00 R1 SAI0410R1 RES 0.00000% 0.00 0.00 0.00 R2 SAI0410R2 RES 0.00000% 0.00 0.00 0.00 Totals 2,137,380,498.78 11,829,545.37 24,370,058.35
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 499,819,443.92 8,341,020.00 0.00 A2 0.00 108,156,000.00 252,394.04 0.00 A3 0.00 239,751,762.61 5,629,902.07 0.00 A4 0.00 55,262,000.00 127,532.42 0.00 A5 0.00 344,196,391.52 10,513,744.29 0.00 A6 0.00 149,548,000.00 321,943.61 0.00 A7 0.00 111,139,000.00 259,355.21 0.00 A8 0.00 242,189,424.22 2,694,354.18 0.00 A9 0.00 56,514,000.00 131,881.70 0.00 A10 0.00 100,000,000.00 226,472.22 0.00 A11 0.00 32,251,000.00 81,371.06 0.00 M1 0.00 62,362,000.00 162,712.85 0.00 M2 0.00 47,309,000.00 135,658.56 0.00 M3 0.00 13,978,000.00 41,887.41 0.00 M4 0.00 13,978,000.00 44,896.56 0.00 M5 0.00 15,053,000.00 54,182.44 0.00 M6 0.00 6,451,000.00 25,164.28 0.00 M7 0.00 4,301,000.00 17,333.03 0.00 P 0.00 100.00 242,561.57 0.00 X 0.00 10,751,318.16 6,895,236.22 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 Totals 0.00 2,113,010,440.43 36,199,603.72 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 509,471,000.00 507,090,643.52 0.00 7,271,199.60 0.00 0.00 A2 108,156,000.00 108,156,000.00 0.00 0.00 0.00 0.00 A3 247,225,000.00 244,869,275.72 0.00 5,117,513.11 0.00 0.00 A4 55,262,000.00 55,262,000.00 0.00 0.00 0.00 0.00 A5 360,687,000.00 353,996,832.19 0.00 9,800,440.67 0.00 0.00 A6 149,548,000.00 149,548,000.00 0.00 0.00 0.00 0.00 A7 111,139,000.00 111,139,000.00 0.00 0.00 0.00 0.00 A8 245,987,000.00 244,370,329.19 0.00 2,180,904.97 0.00 0.00 A9 56,514,000.00 56,514,000.00 0.00 0.00 0.00 0.00 A10 100,000,000.00 100,000,000.00 0.00 0.00 0.00 0.00 A11 32,251,000.00 32,251,000.00 0.00 0.00 0.00 0.00 M1 62,362,000.00 62,362,000.00 0.00 0.00 0.00 0.00 M2 47,309,000.00 47,309,000.00 0.00 0.00 0.00 0.00 M3 13,978,000.00 13,978,000.00 0.00 0.00 0.00 0.00 M4 13,978,000.00 13,978,000.00 0.00 0.00 0.00 0.00 M5 15,053,000.00 15,053,000.00 0.00 0.00 0.00 0.00 M6 6,451,000.00 6,451,000.00 0.00 0.00 0.00 0.00 M7 4,301,000.00 4,301,000.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 X 10,751,318.16 10,751,318.16 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 2,150,423,418.16 2,137,380,498.78 0.00 24,370,058.35 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 7,271,199.60 499,819,443.92 0.98105573 7,271,199.60 A2 0.00 108,156,000.00 1.00000000 0.00 A3 5,117,513.11 239,751,762.61 0.96977151 5,117,513.11 A4 0.00 55,262,000.00 1.00000000 0.00 A5 9,800,440.67 344,196,391.52 0.95428000 9,800,440.67 A6 0.00 149,548,000.00 1.00000000 0.00 A7 0.00 111,139,000.00 1.00000000 0.00 A8 2,180,904.97 242,189,424.22 0.98456188 2,180,904.97 A9 0.00 56,514,000.00 1.00000000 0.00 A10 0.00 100,000,000.00 1.00000000 0.00 A11 0.00 32,251,000.00 1.00000000 0.00 M1 0.00 62,362,000.00 1.00000000 0.00 M2 0.00 47,309,000.00 1.00000000 0.00 M3 0.00 13,978,000.00 1.00000000 0.00 M4 0.00 13,978,000.00 1.00000000 0.00 M5 0.00 15,053,000.00 1.00000000 0.00 M6 0.00 6,451,000.00 1.00000000 0.00 M7 0.00 4,301,000.00 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 X 0.00 10,751,318.16 1.00000000 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 Totals 24,370,058.35 2,113,010,440.43 0.98260204 24,370,058.35
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 509,471,000.00 995.32778808 0.00000000 14.27205788 0.00000000 A2 108,156,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A3 247,225,000.00 990.47133470 0.00000000 20.69982045 0.00000000 A4 55,262,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A5 360,687,000.00 981.45159706 0.00000000 27.17159385 0.00000000 A6 149,548,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A7 111,139,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A8 245,987,000.00 993.42782013 0.00000000 8.86593588 0.00000000 A9 56,514,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A10 100,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A11 32,251,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 62,362,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 47,309,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 13,978,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 13,978,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 15,053,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 6,451,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 4,301,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 10,751,318.16 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 14.27205788 981.05573020 0.98105573 14.27205788 A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A3 0.00000000 20.69982045 969.77151425 0.96977151 20.69982045 A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A5 0.00000000 27.17159385 954.28000322 0.95428000 27.17159385 A6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A8 0.00000000 8.86593588 984.56188425 0.98456188 8.86593588 A9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A11 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 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 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 509,471,000.00 2.45000% 507,090,643.52 1,069,820.40 0.00 0.00 A2 108,156,000.00 2.71000% 108,156,000.00 252,394.04 0.00 0.00 A3 247,225,000.00 2.43000% 244,869,275.72 512,388.96 0.00 0.00 A4 55,262,000.00 2.68000% 55,262,000.00 127,532.42 0.00 0.00 A5 360,687,000.00 2.34000% 353,996,832.19 713,303.62 0.00 0.00 A6 149,548,000.00 2.50000% 149,548,000.00 321,943.61 0.00 0.00 A7 111,139,000.00 2.71000% 111,139,000.00 259,355.21 0.00 0.00 A8 245,987,000.00 2.44000% 244,370,329.19 513,449.21 0.00 0.00 A9 56,514,000.00 2.71000% 56,514,000.00 131,881.70 0.00 0.00 A10 100,000,000.00 2.63000% 100,000,000.00 226,472.22 0.00 0.00 A11 32,251,000.00 2.93000% 32,251,000.00 81,371.06 0.00 0.00 M1 62,362,000.00 3.03000% 62,362,000.00 162,712.85 0.00 0.00 M2 47,309,000.00 3.33000% 47,309,000.00 135,658.56 0.00 0.00 M3 13,978,000.00 3.48000% 13,978,000.00 41,887.41 0.00 0.00 M4 13,978,000.00 3.73000% 13,978,000.00 44,896.56 0.00 0.00 M5 15,053,000.00 4.18000% 15,053,000.00 54,182.44 0.00 0.00 M6 6,451,000.00 4.53000% 6,451,000.00 25,164.28 0.00 0.00 M7 4,301,000.00 4.68000% 4,301,000.00 17,333.03 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 X 10,751,318.16 0.00000% 10,751,318.16 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 2,150,423,418.16 4,691,747.58 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A1 0.00 0.00 1,069,820.40 0.00 499,819,443.92 A2 0.00 0.00 252,394.04 0.00 108,156,000.00 A3 0.00 0.00 512,388.96 0.00 239,751,762.61 A4 0.00 0.00 127,532.42 0.00 55,262,000.00 A5 0.00 0.00 713,303.62 0.00 344,196,391.52 A6 0.00 0.00 321,943.61 0.00 149,548,000.00 A7 0.00 0.00 259,355.21 0.00 111,139,000.00 A8 0.00 0.00 513,449.21 0.00 242,189,424.22 A9 0.00 0.00 131,881.70 0.00 56,514,000.00 A10 0.00 0.00 226,472.22 0.00 100,000,000.00 A11 0.00 0.00 81,371.06 0.00 32,251,000.00 M1 0.00 0.00 162,712.85 0.00 62,362,000.00 M2 0.00 0.00 135,658.56 0.00 47,309,000.00 M3 0.00 0.00 41,887.41 0.00 13,978,000.00 M4 0.00 0.00 44,896.56 0.00 13,978,000.00 M5 0.00 0.00 54,182.44 0.00 15,053,000.00 M6 0.00 0.00 25,164.28 0.00 6,451,000.00 M7 0.00 0.00 17,333.03 0.00 4,301,000.00 P 0.00 0.00 242,561.57 0.00 100.00 X 0.00 0.00 6,895,236.22 0.00 10,751,318.16 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 11,829,545.37 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 509,471,000.00 2.45000% 995.32778808 2.09986515 0.00000000 0.00000000 A2 108,156,000.00 2.71000% 1000.00000000 2.33361108 0.00000000 0.00000000 A3 247,225,000.00 2.43000% 990.47133470 2.07256127 0.00000000 0.00000000 A4 55,262,000.00 2.68000% 1000.00000000 2.30777786 0.00000000 0.00000000 A5 360,687,000.00 2.34000% 981.45159706 1.97762498 0.00000000 0.00000000 A6 149,548,000.00 2.50000% 1000.00000000 2.15277777 0.00000000 0.00000000 A7 111,139,000.00 2.71000% 1000.00000000 2.33361115 0.00000000 0.00000000 A8 245,987,000.00 2.44000% 993.42782013 2.08730222 0.00000000 0.00000000 A9 56,514,000.00 2.71000% 1000.00000000 2.33361114 0.00000000 0.00000000 A10 100,000,000.00 2.63000% 1000.00000000 2.26472220 0.00000000 0.00000000 A11 32,251,000.00 2.93000% 1000.00000000 2.52305541 0.00000000 0.00000000 M1 62,362,000.00 3.03000% 1000.00000000 2.60916664 0.00000000 0.00000000 M2 47,309,000.00 3.33000% 1000.00000000 2.86750005 0.00000000 0.00000000 M3 13,978,000.00 3.48000% 1000.00000000 2.99666691 0.00000000 0.00000000 M4 13,978,000.00 3.73000% 1000.00000000 3.21194448 0.00000000 0.00000000 M5 15,053,000.00 4.18000% 1000.00000000 3.59944463 0.00000000 0.00000000 M6 6,451,000.00 4.53000% 1000.00000000 3.90083398 0.00000000 0.00000000 M7 4,301,000.00 4.68000% 1000.00000000 4.03000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 X 10,751,318.16 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 2.09986515 0.00000000 981.05573020 A2 0.00000000 0.00000000 2.33361108 0.00000000 1000.00000000 A3 0.00000000 0.00000000 2.07256127 0.00000000 969.77151425 A4 0.00000000 0.00000000 2.30777786 0.00000000 1000.00000000 A5 0.00000000 0.00000000 1.97762498 0.00000000 954.28000322 A6 0.00000000 0.00000000 2.15277777 0.00000000 1000.00000000 A7 0.00000000 0.00000000 2.33361115 0.00000000 1000.00000000 A8 0.00000000 0.00000000 2.08730222 0.00000000 984.56188425 A9 0.00000000 0.00000000 2.33361114 0.00000000 1000.00000000 A10 0.00000000 0.00000000 2.26472220 0.00000000 1000.00000000 A11 0.00000000 0.00000000 2.52305541 0.00000000 1000.00000000 M1 0.00000000 0.00000000 2.60916664 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.86750005 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.99666691 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.21194448 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.59944463 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.90083398 0.00000000 1000.00000000 M7 0.00000000 0.00000000 4.03000000 0.00000000 1000.00000000 P 0.00000000 0.00000000 2425615.70000000 0.00000000 1000.00000000 X 0.00000000 0.00000000 641.33868214 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 37,751,747.18 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 37,751,747.18 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 1,552,143.46 Payment of Interest and Principal 36,199,603.72 Total Withdrawals (Pool Distribution Amount) 37,751,747.18 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 889,708.43 Credit Risk Manager Fee 19,592.65 PMI Insurance Premium Fee 641,061.32 Securities Administration Fee 1,781.06 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 1,552,143.46
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 0.00 0.00 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 6 2 0 8 575,381.82 202,552.78 0.00 777,934.60 30 Days 62 1 0 0 63 9,702,070.35 279,190.57 0.00 0.00 9,981,260.92 60 Days 16 0 0 0 16 2,215,406.66 0.00 0.00 0.00 2,215,406.66 90 Days 2 0 0 0 2 220,451.31 0.00 0.00 0.00 220,451.31 120 Days 0 0 1 0 1 0.00 0.00 111,028.50 0.00 111,028.50 150 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 80 7 3 0 90 12,137,928.32 854,572.39 313,581.28 0.00 13,306,081.99 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 0.051551% 0.017184% 0.000000% 0.068734% 0.027216% 0.009581% 0.000000% 0.036797% 30 Days 0.532692% 0.008592% 0.000000% 0.000000% 0.541284% 0.458921% 0.013206% 0.000000% 0.000000% 0.472128% 60 Days 0.137469% 0.000000% 0.000000% 0.000000% 0.137469% 0.104792% 0.000000% 0.000000% 0.000000% 0.104792% 90 Days 0.017184% 0.000000% 0.000000% 0.000000% 0.017184% 0.010428% 0.000000% 0.000000% 0.000000% 0.010428% 120 Days 0.000000% 0.000000% 0.008592% 0.000000% 0.008592% 0.000000% 0.000000% 0.005252% 0.000000% 0.005252% 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 0.687344% 0.060143% 0.025775% 0.000000% 0.773262% 0.574141% 0.040422% 0.014833% 0.000000% 0.629396%
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 84,491.56 0.00 0.00 84,491.56 30 Days 5 0 0 0 5 395,508.36 0.00 0.00 0.00 395,508.36 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 5 1 0 0 6 395,508.36 84,491.56 0.00 0.00 479,999.92 0-29 Days 0.105374% 0.000000% 0.000000% 0.105374% 0.068388% 0.000000% 0.000000% 0.068388% 30 Days 0.526870% 0.000000% 0.000000% 0.000000% 0.526870% 0.320128% 0.000000% 0.000000% 0.000000% 0.320128% 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 0.526870% 0.105374% 0.000000% 0.000000% 0.632244% 0.320128% 0.068388% 0.000000% 0.000000% 0.388516% 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 2 202,310.80 0.00 0.00 202,310.80 30 Days 20 1 0 0 21 2,747,327.75 279,190.57 0.00 0.00 3,026,518.32 60 Days 2 0 0 0 2 216,539.86 0.00 0.00 0.00 216,539.86 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 22 3 0 0 25 2,963,867.61 481,501.37 0.00 0.00 3,445,368.98 0-29 Days 0.059137% 0.000000% 0.000000% 0.059137% 0.034432% 0.000000% 0.000000% 0.034432% 30 Days 0.591366% 0.029568% 0.000000% 0.000000% 0.620934% 0.467572% 0.047516% 0.000000% 0.000000% 0.515088% 60 Days 0.059137% 0.000000% 0.000000% 0.000000% 0.059137% 0.036853% 0.000000% 0.000000% 0.000000% 0.036853% 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 0.650503% 0.088705% 0.000000% 0.000000% 0.739208% 0.504425% 0.081947% 0.000000% 0.000000% 0.586373% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(A) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 98,487.58 0.00 0.00 98,487.58 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 1 0 0 0 1 50,969.85 0.00 0.00 0.00 50,969.85 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 1 1 0 0 2 50,969.85 98,487.58 0.00 0.00 149,457.43 0-29 Days 0.196078% 0.000000% 0.000000% 0.196078% 0.140471% 0.000000% 0.000000% 0.140471% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.196078% 0.000000% 0.000000% 0.000000% 0.196078% 0.072697% 0.000000% 0.000000% 0.000000% 0.072697% 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 0.196078% 0.196078% 0.000000% 0.000000% 0.392157% 0.072697% 0.140471% 0.000000% 0.000000% 0.213168% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(B) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 11 0 0 0 11 1,816,394.74 0.00 0.00 0.00 1,816,394.74 60 Days 2 0 0 0 2 452,000.00 0.00 0.00 0.00 452,000.00 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 13 0 0 0 13 2,268,394.74 0.00 0.00 0.00 2,268,394.74 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.746269% 0.000000% 0.000000% 0.000000% 0.746269% 0.659856% 0.000000% 0.000000% 0.000000% 0.659856% 60 Days 0.135685% 0.000000% 0.000000% 0.000000% 0.135685% 0.164202% 0.000000% 0.000000% 0.000000% 0.164202% 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 0.881954% 0.000000% 0.000000% 0.000000% 0.881954% 0.824058% 0.000000% 0.000000% 0.000000% 0.824058% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3(A) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 20,339.99 0.00 0.00 20,339.99 30 Days 3 0 0 0 3 167,604.01 0.00 0.00 0.00 167,604.01 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 3 1 0 0 4 167,604.01 20,339.99 0.00 0.00 187,944.00 0-29 Days 0.068681% 0.000000% 0.000000% 0.068681% 0.011255% 0.000000% 0.000000% 0.011255% 30 Days 0.206044% 0.000000% 0.000000% 0.000000% 0.206044% 0.092740% 0.000000% 0.000000% 0.000000% 0.092740% 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 0.206044% 0.068681% 0.000000% 0.000000% 0.274725% 0.092740% 0.011255% 0.000000% 0.000000% 0.103994% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3(B) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 2 0 3 169,751.89 202,552.78 0.00 372,304.67 30 Days 18 0 0 0 18 3,764,928.52 0.00 0.00 0.00 3,764,928.52 60 Days 6 0 0 0 6 914,684.91 0.00 0.00 0.00 914,684.91 90 Days 1 0 0 0 1 175,500.00 0.00 0.00 0.00 175,500.00 120 Days 0 0 1 0 1 0.00 0.00 111,028.50 0.00 111,028.50 150 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 25 1 3 0 29 4,855,113.43 169,751.89 313,581.28 0.00 5,338,446.60 0-29 Days 0.041152% 0.082305% 0.000000% 0.123457% 0.032159% 0.038373% 0.000000% 0.070532% 30 Days 0.740741% 0.000000% 0.000000% 0.000000% 0.740741% 0.713258% 0.000000% 0.000000% 0.000000% 0.713258% 60 Days 0.246914% 0.000000% 0.000000% 0.000000% 0.246914% 0.173285% 0.000000% 0.000000% 0.000000% 0.173285% 90 Days 0.041152% 0.000000% 0.000000% 0.000000% 0.041152% 0.033248% 0.000000% 0.000000% 0.000000% 0.033248% 120 Days 0.000000% 0.000000% 0.041152% 0.000000% 0.041152% 0.000000% 0.000000% 0.021034% 0.000000% 0.021034% 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 1.028807% 0.041152% 0.123457% 0.000000% 1.193416% 0.919792% 0.032159% 0.059407% 0.000000% 1.011358% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4(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 2 108,368.74 0.00 0.00 0.00 108,368.74 60 Days 4 0 0 0 4 238,381.66 0.00 0.00 0.00 238,381.66 90 Days 1 0 0 0 1 44,951.31 0.00 0.00 0.00 44,951.31 120 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 7 0 0 0 7 391,701.71 0.00 0.00 0.00 391,701.71 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.322061% 0.000000% 0.000000% 0.000000% 0.322061% 0.158979% 0.000000% 0.000000% 0.000000% 0.158979% 60 Days 0.644122% 0.000000% 0.000000% 0.000000% 0.644122% 0.349711% 0.000000% 0.000000% 0.000000% 0.349711% 90 Days 0.161031% 0.000000% 0.000000% 0.000000% 0.161031% 0.065944% 0.000000% 0.000000% 0.000000% 0.065944% 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 1.127214% 0.000000% 0.000000% 0.000000% 1.127214% 0.574634% 0.000000% 0.000000% 0.000000% 0.574634% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4(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 3 0 0 0 3 701,938.23 0.00 0.00 0.00 701,938.23 60 Days 1 0 0 0 1 342,830.38 0.00 0.00 0.00 342,830.38 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 4 0 0 0 4 1,044,768.61 0.00 0.00 0.00 1,044,768.61 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.367197% 0.000000% 0.000000% 0.000000% 0.367197% 0.249925% 0.000000% 0.000000% 0.000000% 0.249925% 60 Days 0.122399% 0.000000% 0.000000% 0.000000% 0.122399% 0.122065% 0.000000% 0.000000% 0.000000% 0.122065% 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 0.489596% 0.000000% 0.000000% 0.000000% 0.489596% 0.371990% 0.000000% 0.000000% 0.000000% 0.371990%
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 7.194887% Weighted Average Net Coupon 6.335459% Weighted Average Pass-Through Rate 6.334459% Weighted Average Maturity(Stepdown Calculation ) 353 Beginning Scheduled Collateral Loan Count 9,366 Number Of Loans Paid In Full (2,273) Ending Scheduled Collateral Loan Count 11,639 Beginning Scheduled Collateral Balance 1,670,006,645.93 Ending Scheduled Collateral Balance 2,112,897,509.36 Ending Actual Collateral Balance at 30-Nov-2004 2,114,102,631.90 Monthly P &I Constant 14,119,549.72 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 2,112,897,509.36 Scheduled Principal 1,304,373.92 Unscheduled Principal 23,065,684.43
Original Capitalized Interest Account Balance $7,439,175.51 Ending Balance in the Capitalized Interest Account $4,960,186.66 Capitalized Interest Requirement $596.16 Targeted Overcollateralization Amount $10,751,418.16 Cap Payment $323,355.30 Beginning Capitalized Interest Amount $4,960,782.82
Miscellaneous Reporting Excess Cash Amount 6,571,880.92 Overcollateralization Amount 10,751,418.16 Overcollateralization Deficiency Amount 0.00 Targeted Overcollateralization Amount 10,751,418.16
Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.728142 7.151798 6.630109 Weighted Average Net Rate 6.843891 6.188838 6.044602 Weighted Average Maturity 353 353 351 Beginning Loan Count 735 2,694 448 Loans Paid In Full (214) (688) (62) Ending Loan Count 949 3,382 510 Beginning Scheduled Balance 91,257,324.32 466,783,623.18 65,204,758.37 Ending scheduled Balance 123,440,398.57 587,162,264.85 70,052,676.88 Record Date 11/30/2004 11/30/2004 11/30/2004 Principal And Interest Constant 914,626.33 3,967,607.21 466,920.83 Scheduled Principal 115,534.16 428,632.79 77,136.61 Unscheduled Principal 513,508.44 6,213,524.21 356,326.21 Scheduled Interest 799,092.17 3,538,974.42 389,784.22 Servicing Fees 51,695.59 247,418.49 29,344.61 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 39,839.72 229,585.07 5,136.06 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 707,556.86 3,061,970.86 355,303.55 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 6.842893 6.187838 6.043604
Group Level Collateral Statement Group 2(B) 3(A) 3(B) Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.278643 7.116552 7.169309 Weighted Average Net Rate 6.496806 6.506145 6.347393 Weighted Average Maturity 351 346 346 Beginning Loan Count 1,158 1,334 1,848 Loans Paid In Full (316) (122) (582) Ending Loan Count 1,474 1,456 2,430 Beginning Scheduled Balance 217,324,585.84 163,179,394.00 392,107,389.18 Ending scheduled Balance 275,165,620.06 180,576,872.05 527,566,584.33 Record Date 11/30/2004 11/30/2004 11/30/2004 Principal And Interest Constant 1,812,301.52 1,264,349.33 3,484,864.12 Scheduled Principal 114,863.22 183,897.10 284,024.62 Unscheduled Principal 4,569,187.07 1,426,142.27 7,906,376.68 Scheduled Interest 1,697,438.30 1,080,452.23 3,200,839.50 Servicing Fees 116,590.87 75,771.77 222,679.36 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 65,972.90 17,053.58 144,723.11 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,514,874.53 987,626.88 2,833,437.03 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 6.495805 6.505146 6.346393
Group Level Collateral Statement Group 4(A) 4(B) Total Collateral Description Mixed Fixed Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 8.526849 6.884231 7.194887 Weighted Average Net Rate 7.835134 5.835479 6.335459 Weighted Average Maturity 352.00 352.00 353.00 Record Date 11/30/2004 11/30/2004 11/30/2004 Principal And Interest Constant 536,768.80 1,672,111.58 14,119,549.72 Beginning Loan Count 495 654 9,366 Loans Paid In Full (126) (163) (2,273) Ending Loan Count 621 817 11,639 Beginning Scheduled Balance 45,839,463.34 228,310,107.70 1,670,006,645.93 Ending Scheduled Balance 68,121,728.00 280,811,364.62 2,112,897,509.36 Scheduled Principal 48,434.38 51,851.04 1,304,373.92 Unscheduled Principal 513,958.37 1,566,661.18 23,065,684.43 Scheduled Interest 488,334.42 1,620,260.54 12,815,175.80 Servicing Fee 28,528.62 117,679.12 889,708.43 Master Servicing Fee 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 11,143.30 129,388.64 642,842.38 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 448,662.50 1,373,192.78 11,282,624.99 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.834134 5.834478 6.334459
Ex 99.2
theMurrayhillcompany SAIL 2004-10 Credit Risk Manager Report November 2004 The information contained in this Report is based upon a specific point in time and reflects performance solely through that point in time. It does not forecast the performance of the portfolio in the future. The information in this Report is not investment advice concerning a particular portfolio or security, and no mention of a particular security in this Report constitutes a recommendation to buy, sell, or hold that or any other security. The Report is based upon information provided to The Murrayhill Company by third parties and therefore The Murrayhill Company cannot, and does not, warrant that the information contained in this Report is accurate or complete. Table of Contents Section One Executive Summary Section Two Prepayment Premium Analysis Section Three Analytics Section One Executive Summary SAIL 2004-10 Executive Summary November 2004 Transaction Summary Closing Date: 10/30/2004 Depositor: Structured Asset Securities Corporation Securities Administrator: Wells Fargo Bank, N.A. Master Servicer: Wells Fargo Bank, N.A. Servicer(s): Aurora Loan Services, Chase Home Finance, Ocwen Financial Services, Option One Mortgage, Wells Fargo Bank, N.A. Mortgage Insurer(s): Mortgage Guaranty Insurance Corporation Delinquency Reporting Method: OTS1 Collateral Summary 2 10/31/2004 as a Percentage of Closing Date 10/31/2004 Closing Date Collateral Balance $2,153,242,608 $1,626,747,439 75.54% Loan Count 11,811 8,829 74.75% 1 OTS Method: A current loan becomes 30 days delinquent if the scheduled payment is not made by the close of business on the corresponding day of the following month. Similarly for 60 days delinquent and the second immediately succeeding month and 90 days delinquent and the third immediately succeeding month. 2 These figures are based upon information provided to Murrayhill by the servicers on a monthly basis. Collateral Statistics Loan Count Summed Balance Repurchases* 0 $0 First Payment Defaults 25 $3,581,783 Early Payment Defaults** 15 $2,673,510 Multiple Loans to One Borrower 0 $0 *Refers to loans repurchased in the current month **A default that occurs on the second or third scheduled payment Second Lien Statistics Loan Count Summed Balance Total Outstanding Second Liens 702 $37,189,595 30 Days delinquent 5 $332,760 60 Days Delinquent 0 $0 90+ Days Delinquent 0 $0 c 2004 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for SAIL 2004-10 Mortgage Data Through: October 31, 2004 Section 1: Prepayment premiums remitted to the P Class by the trustee. This information is taken from the statement to Certificateholders prepared by the trustee. Trustee Remittance Date Class 25-Nov-04 P Class $58,516 Section 2: 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 Servicer 25-Nov-04 TOTAL $58,516 Section 3: Reconciliation of the amounts remitted to the P class by the trustee and the amounts remitted by the servicers to the trustee Amount remitted to the P Class: $58,516 Amount remitted by servicer: $58,516 Difference: $0 Aggregate Paid-Off Loans Report for SAIL 2004-10 Mortgage Data Through: October 31, 2004 Trustee Remittance Date 25-Nov-04 Loans with Active Prepayment Flags with Premiums 11 Remitted (A) Loans without Prepayment Flags with Premiums Remitted 0 Total Loans with Premiums Remitted (B) 11 Loans with Active Prepayment Flags (C) 11 Loans without Prepayment Flags with Premiums Remitted 0 Subtotal (D) 11 Premiums Remitted for Loans with Active Prepayment 100.00% Flags (A/C) Total Loans with Premiums Remitted to the Subtotal (B/D) 100.00% Total Paid-Off Loans (E) 28 Total Loans with Premiums Remitted to the Total Paid-Off 39.29% Loans (B/E) Paid-Off Loan Exception Report for SAIL 2004-10 Mortgage Data Through: October 31, 2004 Total Total Paid-Off Loans with Flags 11 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 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* 0 Total Paid-Off Loans with Active Prepayment Flags (C) 11 Other Exceptions: Paid-Off Loans that Did Not have Premiums Collected because of State Statutes 0 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 2004-10 Mortgage Data Through: October 31, 2004 Origination PPP Loan Number Delinquency String Exp. Date Date Flag 5678921 0 8/10/2004 3 8/10/2007 5673268 0 6/10/2004 3 6/10/2007 5676852 0 7/23/2004 3 7/23/2007 5674236 0 7/27/2004 3 7/27/2007 5678215 0 6/8/2004 3 6/8/2007 5679424 0 4/24/2004 2 4/24/2006 5671327 0 8/27/2004 3 8/27/2007 5674329 0 8/4/2004 3 8/4/2007 5673215 0 8/6/2004 2 8/6/2006 5678266 0 8/23/2004 2 8/23/2006 5679918 0 8/25/2004 2 8/25/2006 Paid-Off Loans With Prepayment Flags for SAIL 2004-10 Mortgage Data Through: October 31, 2004 (CONT.) % of No Premium PPP PPP Premium to Loan Number Payoff Balance Collected, Collected, Comments w/ Remitted Payoff Flag No Flag Balance 5678921 $ 370,000.00$ 9,900.00 3% 5673268 $ 219,432.30$ 4,043.67 2% 5676852 $ 123,088.62$ 2,812.84 2% 5674236 $ 404,367.22$ 5,955.93 1% 5678215 $ 140,642.08$ 6,154.43 4% 5679424 $ 66,199.67 $ 658.26 1% 5671327 $ 50,925.93 $ 1,884.96 4% 5674329 $ 218,500.00$ 5,768.40 3% 5673215 $ 229,302.02$ 6,180.65 3% 5678266 $ 173,225.00$ 7,271.84 4% 5679918 $ 223,869.78$ 7,795.20 3% Section Three Analytics SAIL 2004-10 FICO Distribution by Status Mortgage Data Through: October 31, 2004 FICO Delinquency Percentage 380 Current 0 500 Current 0.009 500 Delinquent 0.058 510 Current 0.022 510 Delinquent 0.038 510 Paid Off 0.043 520 Current 0.029 520 Delinquent 0.077 530 Current 0.033 530 Delinquent 0.058 540 Current 0.035 540 Delinquent 0.019 550 Current 0.04 550 Delinquent 0.135 560 Current 0.04 560 Delinquent 0.038 560 Paid Off 0.087 570 Current 0.042 570 Delinquent 0.019 580 Current 0.044 580 Delinquent 0.096 580 Paid Off 0.087 590 Current 0.037 590 Delinquent 0.019 590 Paid Off 0.087 600 Current 0.052 600 Paid Off 0.043 610 Current 0.051 610 Delinquent 0.096 620 Current 0.059 620 Delinquent 0.058 620 Paid Off 0.043 630 Current 0.06 630 Delinquent 0.115 640 Current 0.055 640 Delinquent 0.019 650 Current 0.059 650 Delinquent 0.038 650 Paid Off 0.087 660 Current 0.046 660 Delinquent 0.058 670 Current 0.041 670 Paid Off 0.043 680 Current 0.04 680 Delinquent 0.038 680 Paid Off 0.13 690 Current 0.034 690 Delinquent 0.019 690 Paid Off 0.087 700 Current 0.032 710 Current 0.026 720 Current 0.021 730 Current 0.019 730 Paid Off 0.087 740 Current 0.017 750 Current 0.014 750 Paid Off 0.087 760 Current 0.013 760 Paid Off 0.043 770 Current 0.012 780 Current 0.007 780 Paid Off 0.043 790 Current 0.008 800 Current 0.002 810 Current 0.001 820 Current 0 Status # of Loans Average Std. Deviation Current 8,777 626 69.744 Delinquent 52 584 53.779 Paid Off 23 655 75.666 Total: 8,852 SAIL 2004-10 Loan-to-Value Distribution by Status Mortgage Data Through: October 31, 2004 LTV Delinquency Percentage 0 Current 0 0.1 Current 0.004 0.2 Current 0.077 0.2 Paid Off 0.13 0.2 Delinquent 0.096 0.3 Current 0.008 0.4 Current 0.015 0.5 Delinquent 0.038 0.5 Current 0.027 0.5 Paid Off 0.043 0.6 Current 0.055 0.6 Delinquent 0.019 0.7 Delinquent 0.135 0.7 Current 0.111 0.7 Paid Off 0.217 0.8 Paid Off 0.304 0.8 Delinquent 0.385 0.8 Current 0.39 0.9 Paid Off 0.217 0.9 Current 0.222 0.9 Delinquent 0.269 1 Delinquent 0.058 1 Paid Off 0.087 1 Current 0.091 Status # of Loans Average Std. Deviation Current 8,777 1.487 0.407 Delinquent 52 1.481 0.403 Paid Off 23 1.437 0.461 Total: 8,852 SAIL 2004-10 Balance Distribution by Status Mortgage Data Through: October 31, 2004 BalanceDelinquency Percentage 0 Current 0 10000 Current 0.001 20000 Current 0.011 20000 Delinquent 0.019 30000 Current 0.026 40000 Current 0.029 40000 Delinquent 0.019 50000 Current 0.031 50000 Delinquent 0.038 60000 Current 0.035 60000 Delinquent 0.019 70000 Current 0.037 70000 Delinquent 0.019 80000 Current 0.036 80000 Delinquent 0.058 90000 Current 0.037 90000 Delinquent 0.077 100000 Current 0.042 100000 Delinquent 0.019 110000 Current 0.039 110000 Delinquent 0.135 120000 Current 0.042 120000 Delinquent 0.058 130000 Current 0.04 130000 Delinquent 0.038 140000 Current 0.039 140000 Delinquent 0.077 150000 Current 0.038 160000 Current 0.036 160000 Delinquent 0.058 170000 Current 0.035 170000 Delinquent 0.038 180000 Current 0.036 180000 Delinquent 0.019 190000 Current 0.03 190000 Delinquent 0.038 200000 Current 0.029 210000 Current 0.029 220000 Current 0.03 220000 Delinquent 0.096 230000 Current 0.024 230000 Delinquent 0.038 240000 Current 0.022 240000 Delinquent 0.019 250000 Current 0.019 250000 Delinquent 0.019 260000 Current 0.019 270000 Current 0.018 280000 Current 0.017 290000 Current 0.012 300000 Current 0.014 310000 Current 0.011 310000 Delinquent 0.019 320000 Current 0.014 330000 Current 0.011 340000 Current 0.009 350000 Current 0.009 360000 Current 0.01 370000 Current 0.007 370000 Delinquent 0.019 380000 Current 0.008 390000 Current 0.006 400000 Current 0.009 410000 Current 0.004 420000 Current 0.006 430000 Current 0.005 430000 Delinquent 0.019 440000 Current 0.003 440000 Delinquent 0.019 450000 Current 0.003 460000 Current 0.003 470000 Current 0.002 480000 Current 0.002 490000 Current 0.003 500000 Current 0.004 510000 Current 0.001 520000 Current 0.001 530000 Current 0.002 540000 Current 0.001 550000 Current 0.001 560000 Current 0.002 570000 Current 0.001 580000 Current 0.001 590000 Current 0.001 600000 Current 0.001 610000 Current 0 620000 Current 0.001 630000 Current 0 640000 Current 0.001 650000 Current 0 650000 Delinquent 0.019 670000 Current 0.001 680000 Current 0 690000 Current 0 700000 Current 0 710000 Current 0 730000 Current 0 740000 Current 0 750000 Current 0.001 760000 Current 0 780000 Current 0 790000 Current 0 800000 Current 0 850000 Current 0 860000 Current 0 910000 Current 0 920000 Current 0 940000 Current 0 2000000 Current 0 Status # of Loans AverageStd. Deviation Current 8,777 184,365.28 121,075.75 Delinquent 52 164,873.31 112,622.22 Total: 8,829 SAIL 2004-10 Mortgage Type Distribution by Status Mortgage Data Through: October 31, 2004 Mortgage Type Delinquency Percentage Investment HomeCurrent 0.109 Investment HomeDelinquent 0.038 Investment HomePaid Off 0.304 Primary Home Current 0.88 Primary Home Delinquent 0.942 Primary Home Paid Off 0.652 Second Home Current 0.011 Second Home Delinquent 0.019 Second Home Paid Off 0.043 Mortgage Type Loan Count Total Balance Avg. Balance Std. Deviation ARM 6,291 1,285,015,055.36 204,262.45 121,261.14 Fixed 2,561 341,732,383.80 133,437.09 105,467.57 Total: 8,852 1,626,747,439.16 SAIL 2004-10 Mortgage Term Distribution by Status Mortgage Data Through: October 31, 2004 Mortgage Term Delinquency Percentage 120 Current 0 180 Current 0.045 180 Delinquent 0.019 180 Paid Off 0.087 240 Paid Off 0.043 240 Current 0.052 300 Current 0 360 Current 0.902 360 Paid Off 0.87 360 Delinquent 0.981 # of Loans Other 120 180 240 300 360 8,852 0 4 398 461 3 7,986 SAIL 2004-10 Mortgage Purpose Distribution Mortgage Data Through: October 31, 2004 Origination Statistics Number of Loans: 11,811 Purpose Cash-out Number Percentage refinance 5,447 46.1% Purchase 5,237 44.3% Rate/term 828 7.0% Home 0 0.0% Other 299 2.5% Total 11,811 100% Current Loans Number of Loans: 8,777 Purpose Cash-out Number Percentage refinance 4,502 51.3% Purchase 3,522 40.1% Rate/term 604 6.9% Home 0 0.0% Other 149 1.7% Total 8,777 100% Delinquent Loans Number of Loans: 52 Purpose Cash-out Number Percentage refinance 28 53.8% Purchase 21 40.4% Rate/term 2 3.8% Home 0 0.0% Other 1 1.9% Total 52 100% Paid Off Loans Number of Loans: 23 Purpose Cash-out Number Percentage refinance 10 43.5% Purchase 13 56.5% Rate/term 0 0.0% Home 0 0.0% Other 0 0.0% Total 23 100% SAIL 2004-10 Ownership Distribution by Status Mortgage Data Through: October 31, 2004 Title # of Loans Investment Home962 Primary Home 7,789 Second Home 101 Total: 8,852 SAIL 2004-10 Delinquent Count Over Time Mortgage Data Through: October 31, 2004 Total Count in Status AsOfDate 30 Days60 Days90 DaysForeclosure REO 31-Oct-04 47 2 1 2 0 SAIL 2004-10 Delinquent Balance Over Time Mortgage Data Through: October 31, 2004 Total Balance in Status AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 31-Oct-04 $7,902,412 $226,872 $111,028 $333,100 - SAIL 2004-10 Historical SDA Performance Mortgage Data Through: October 31, 2004 Weighted Monthly Date Average AgeDefault Amt Default Rate CDR (F-R) SDA Curve SDA % 31-Oct-04 2.57 $0 0.00% 0.00% 0.05% 0% Averages: 2.57 $0 0.00% 0.00% 0.05% 0% 2004 The Murrayhill Company. All Rights Reserved.
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