-----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, S6morq/oi7VPpKrjtbaIK/b7AzyQfq3vdtrkr7VfxPSbP2D9znF6WaS/n2RambTT gZf7OrAl3IwXWozbpMEhMw== 0001056404-05-002372.txt : 20050630 0001056404-05-002372.hdr.sgml : 20050630 20050630162654 ACCESSION NUMBER: 0001056404-05-002372 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050627 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050630 DATE AS OF CHANGE: 20050630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Structured Asset Investment Loan Trust 2005-1 CENTRAL INDEX KEY: 0001316092 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: 333-120575-02 FILM NUMBER: 05928807 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 sai05001_10506.txt 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): June 27, 2005 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2005-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-120575-02 54-2168044 Pooling and Servicing Agreement) (Commission 54-2168045 (State or other File Number) 54-2168046 jurisdiction 54-2168047 of Incorporation) 54-2168048 IRS EIN c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On June 27, 2005 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2005-1 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 2005-1 Trust, relating to the June 27, 2005 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 2005-1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/28/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-1 Trust, relating to the June 27, 2005 distribution. EX-99.2 Murrayhill Credit Risk Manager Report EX-99.1
Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 5/31/2005 Distribution Date: 6/27/2005 Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Series 2005-1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution A1 86358EPZ3 SEN 3.39000% 474,261,185.35 1,473,766.63 A2 86358EQA7 SEN 3.65000% 107,845,000.00 360,831.40 A3 86358EQB5 SEN 3.21000% 257,785,487.18 758,533.80 A4 86358EQC3 SEN 3.32000% 409,706,000.00 1,246,871.93 A5 86358EQD1 SEN 3.44000% 60,708,000.00 191,432.56 A6 86358EQE9 SEN 3.21000% 108,605,391.84 319,571.37 A7 86358EQF6 SEN 3.33000% 143,582,000.00 438,284.06 A8 86358EQG4 SEN 3.49000% 21,686,000.00 69,377.13 M1 86358EQH2 MEZ 3.56000% 37,458,000.00 122,237.94 M2 86358EQJ8 MEZ 3.57000% 54,216,000.00 177,421.86 M3 86358EQK5 MEZ 3.61000% 29,572,000.00 97,858.68 M4 86358EQL3 MEZ 3.85000% 23,658,000.00 83,493.02 M5 86358EQM1 MEZ 3.87000% 21,686,000.00 76,931.09 M6 86358EQN9 MEZ 3.91000% 19,715,000.00 70,661.85 M7 86358EQP4 MEZ 4.39000% 13,800,000.00 55,533.50 M8 86358EQQ2 MEZ 4.49000% 14,786,000.00 60,856.71 M9 86358EQR0 MEZ 5.39000% 15,772,000.00 77,926.82 B 86358EQS8 SUB 5.59000% 15,772,000.00 80,818.36 X SAI05001X RES 0.00000% 9,858,185.74 5,442,031.02 P SAI05001P SEN 0.00000% 100.00 1,040,641.40 R SAI0501R5 RES 0.00000% 0.00 0.00 Totals 1,840,472,350.11 12,245,081.13
Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A1 20,706,970.15 0.00 453,554,215.20 22,180,736.78 0.00 A2 0.00 0.00 107,845,000.00 360,831.40 0.00 A3 33,215,866.19 0.00 224,569,620.99 33,974,399.99 0.00 A4 0.00 0.00 409,706,000.00 1,246,871.93 0.00 A5 0.00 0.00 60,708,000.00 191,432.56 0.00 A6 9,211,446.99 0.00 99,393,944.85 9,531,018.36 0.00 A7 0.00 0.00 143,582,000.00 438,284.06 0.00 A8 0.00 0.00 21,686,000.00 69,377.13 0.00 M1 0.00 0.00 37,458,000.00 122,237.94 0.00 M2 0.00 0.00 54,216,000.00 177,421.86 0.00 M3 0.00 0.00 29,572,000.00 97,858.68 0.00 M4 0.00 0.00 23,658,000.00 83,493.02 0.00 M5 0.00 0.00 21,686,000.00 76,931.09 0.00 M6 0.00 0.00 19,715,000.00 70,661.85 0.00 M7 0.00 0.00 13,800,000.00 55,533.50 0.00 M8 0.00 0.00 14,786,000.00 60,856.71 0.00 M9 0.00 0.00 15,772,000.00 77,926.82 0.00 B 0.00 0.00 15,772,000.00 80,818.36 0.00 X 0.00 0.00 9,858,185.74 5,442,031.02 0.00 P 0.00 0.00 100.00 1,040,641.40 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 63,134,283.33 0.00 1,777,338,066.78 75,379,364.46 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 516,220,000.00 474,261,185.35 0.00 20,706,970.15 0.00 0.00 A2 107,845,000.00 107,845,000.00 0.00 0.00 0.00 0.00 A3 325,647,000.00 257,785,487.18 0.00 33,215,866.19 0.00 0.00 A4 409,706,000.00 409,706,000.00 0.00 0.00 0.00 0.00 A5 60,708,000.00 60,708,000.00 0.00 0.00 0.00 0.00 A6 129,808,000.00 108,605,391.84 0.00 9,211,446.99 0.00 0.00 A7 143,582,000.00 143,582,000.00 0.00 0.00 0.00 0.00 A8 21,686,000.00 21,686,000.00 0.00 0.00 0.00 0.00 M1 37,458,000.00 37,458,000.00 0.00 0.00 0.00 0.00 M2 54,216,000.00 54,216,000.00 0.00 0.00 0.00 0.00 M3 29,572,000.00 29,572,000.00 0.00 0.00 0.00 0.00 M4 23,658,000.00 23,658,000.00 0.00 0.00 0.00 0.00 M5 21,686,000.00 21,686,000.00 0.00 0.00 0.00 0.00 M6 19,715,000.00 19,715,000.00 0.00 0.00 0.00 0.00 M7 13,800,000.00 13,800,000.00 0.00 0.00 0.00 0.00 M8 14,786,000.00 14,786,000.00 0.00 0.00 0.00 0.00 M9 15,772,000.00 15,772,000.00 0.00 0.00 0.00 0.00 B 15,772,000.00 15,772,000.00 0.00 0.00 0.00 0.00 X 9,858,185.74 9,858,185.74 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,971,495,285.74 1,840,472,350.11 0.00 63,134,283.33 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 20,706,970.15 453,554,215.20 0.87860644 20,706,970.15 A2 0.00 107,845,000.00 1.00000000 0.00 A3 33,215,866.19 224,569,620.99 0.68961059 33,215,866.19 A4 0.00 409,706,000.00 1.00000000 0.00 A5 0.00 60,708,000.00 1.00000000 0.00 A6 9,211,446.99 99,393,944.85 0.76569969 9,211,446.99 A7 0.00 143,582,000.00 1.00000000 0.00 A8 0.00 21,686,000.00 1.00000000 0.00 M1 0.00 37,458,000.00 1.00000000 0.00 M2 0.00 54,216,000.00 1.00000000 0.00 M3 0.00 29,572,000.00 1.00000000 0.00 M4 0.00 23,658,000.00 1.00000000 0.00 M5 0.00 21,686,000.00 1.00000000 0.00 M6 0.00 19,715,000.00 1.00000000 0.00 M7 0.00 13,800,000.00 1.00000000 0.00 M8 0.00 14,786,000.00 1.00000000 0.00 M9 0.00 15,772,000.00 1.00000000 0.00 B 0.00 15,772,000.00 1.00000000 0.00 X 0.00 9,858,185.74 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 63,134,283.33 1,777,338,066.78 0.90151779 63,134,283.33
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 516,220,000.00 918.71912237 0.00000000 40.11268480 0.00000000 A2 107,845,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A3 325,647,000.00 791.61020117 0.00000000 101.99960752 0.00000000 A4 409,706,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A5 60,708,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A6 129,808,000.00 836.66177616 0.00000000 70.96209009 0.00000000 A7 143,582,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A8 21,686,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 37,458,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 54,216,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 29,572,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 23,658,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 21,686,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 19,715,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 13,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M8 14,786,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M9 15,772,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 15,772,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 9,858,185.74 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 100.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are Per $1000 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 40.11268480 878.60643757 0.87860644 40.11268480 A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A3 0.00000000 101.99960752 689.61059365 0.68961059 101.99960752 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 70.96209009 765.69968607 0.76569969 70.96209009 A7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A8 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 M8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 100.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1 516,220,000.00 3.39000% 474,261,185.35 1,473,766.63 0.00 0.00 A2 107,845,000.00 3.65000% 107,845,000.00 360,831.40 0.00 0.00 A3 325,647,000.00 3.21000% 257,785,487.18 758,533.80 0.00 0.00 A4 409,706,000.00 3.32000% 409,706,000.00 1,246,871.93 0.00 0.00 A5 60,708,000.00 3.44000% 60,708,000.00 191,432.56 0.00 0.00 A6 129,808,000.00 3.21000% 108,605,391.84 319,571.37 0.00 0.00 A7 143,582,000.00 3.33000% 143,582,000.00 438,284.06 0.00 0.00 A8 21,686,000.00 3.49000% 21,686,000.00 69,377.13 0.00 0.00 M1 37,458,000.00 3.56000% 37,458,000.00 122,237.94 0.00 0.00 M2 54,216,000.00 3.57000% 54,216,000.00 177,421.86 0.00 0.00 M3 29,572,000.00 3.61000% 29,572,000.00 97,858.68 0.00 0.00 M4 23,658,000.00 3.85000% 23,658,000.00 83,493.02 0.00 0.00 M5 21,686,000.00 3.87000% 21,686,000.00 76,931.09 0.00 0.00 M6 19,715,000.00 3.91000% 19,715,000.00 70,661.85 0.00 0.00 M7 13,800,000.00 4.39000% 13,800,000.00 55,533.50 0.00 0.00 M8 14,786,000.00 4.49000% 14,786,000.00 60,856.71 0.00 0.00 M9 15,772,000.00 5.39000% 15,772,000.00 77,926.82 0.00 0.00 B 15,772,000.00 5.59000% 15,772,000.00 80,818.36 0.00 0.00 X 9,858,185.74 0.00000% 9,858,185.74 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,971,495,285.74 5,762,408.71 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 1,473,766.63 0.00 453,554,215.20 A2 0.00 0.00 360,831.40 0.00 107,845,000.00 A3 0.00 0.00 758,533.80 0.00 224,569,620.99 A4 0.00 0.00 1,246,871.93 0.00 409,706,000.00 A5 0.00 0.00 191,432.56 0.00 60,708,000.00 A6 0.00 0.00 319,571.37 0.00 99,393,944.85 A7 0.00 0.00 438,284.06 0.00 143,582,000.00 A8 0.00 0.00 69,377.13 0.00 21,686,000.00 M1 0.00 0.00 122,237.94 0.00 37,458,000.00 M2 0.00 0.00 177,421.86 0.00 54,216,000.00 M3 0.00 0.00 97,858.68 0.00 29,572,000.00 M4 0.00 0.00 83,493.02 0.00 23,658,000.00 M5 0.00 0.00 76,931.09 0.00 21,686,000.00 M6 0.00 0.00 70,661.85 0.00 19,715,000.00 M7 0.00 0.00 55,533.50 0.00 13,800,000.00 M8 0.00 0.00 60,856.71 0.00 14,786,000.00 M9 0.00 0.00 77,926.82 0.00 15,772,000.00 B 0.00 0.00 80,818.36 0.00 15,772,000.00 X 0.00 0.00 5,442,031.02 0.00 9,858,185.74 P 0.00 0.00 1,040,641.40 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 12,245,081.13 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 516,220,000.00 3.39000% 918.71912237 2.85491967 0.00000000 0.00000000 A2 107,845,000.00 3.65000% 1000.00000000 3.34583337 0.00000000 0.00000000 A3 325,647,000.00 3.21000% 791.61020117 2.32931303 0.00000000 0.00000000 A4 409,706,000.00 3.32000% 1000.00000000 3.04333334 0.00000000 0.00000000 A5 60,708,000.00 3.44000% 1000.00000000 3.15333333 0.00000000 0.00000000 A6 129,808,000.00 3.21000% 836.66177616 2.46187731 0.00000000 0.00000000 A7 143,582,000.00 3.33000% 1000.00000000 3.05250003 0.00000000 0.00000000 A8 21,686,000.00 3.49000% 1000.00000000 3.19916674 0.00000000 0.00000000 M1 37,458,000.00 3.56000% 1000.00000000 3.26333333 0.00000000 0.00000000 M2 54,216,000.00 3.57000% 1000.00000000 3.27250000 0.00000000 0.00000000 M3 29,572,000.00 3.61000% 1000.00000000 3.30916678 0.00000000 0.00000000 M4 23,658,000.00 3.85000% 1000.00000000 3.52916646 0.00000000 0.00000000 M5 21,686,000.00 3.87000% 1000.00000000 3.54750023 0.00000000 0.00000000 M6 19,715,000.00 3.91000% 1000.00000000 3.58416688 0.00000000 0.00000000 M7 13,800,000.00 4.39000% 1000.00000000 4.02416667 0.00000000 0.00000000 M8 14,786,000.00 4.49000% 1000.00000000 4.11583322 0.00000000 0.00000000 M9 15,772,000.00 5.39000% 1000.00000000 4.94083312 0.00000000 0.00000000 B 15,772,000.00 5.59000% 1000.00000000 5.12416688 0.00000000 0.00000000 X 9,858,185.74 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 100.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are Per $1000 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 2.85491967 0.00000000 878.60643757 A2 0.00000000 0.00000000 3.34583337 0.00000000 1000.00000000 A3 0.00000000 0.00000000 2.32931303 0.00000000 689.61059365 A4 0.00000000 0.00000000 3.04333334 0.00000000 1000.00000000 A5 0.00000000 0.00000000 3.15333333 0.00000000 1000.00000000 A6 0.00000000 0.00000000 2.46187731 0.00000000 765.69968607 A7 0.00000000 0.00000000 3.05250003 0.00000000 1000.00000000 A8 0.00000000 0.00000000 3.19916674 0.00000000 1000.00000000 M1 0.00000000 0.00000000 3.26333333 0.00000000 1000.00000000 M2 0.00000000 0.00000000 3.27250000 0.00000000 1000.00000000 M3 0.00000000 0.00000000 3.30916678 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.52916646 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.54750023 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.58416688 0.00000000 1000.00000000 M7 0.00000000 0.00000000 4.02416667 0.00000000 1000.00000000 M8 0.00000000 0.00000000 4.11583322 0.00000000 1000.00000000 M9 0.00000000 0.00000000 4.94083312 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.12416688 0.00000000 1000.00000000 X 0.00000000 0.00000000 552.03169868 0.00000000 1000.00000000 P 0.00000000 0.00000000 1040641.40000000 0.00000000 100.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 76,923,174.88 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) (111,024.67) Prepayment Penalties 0.00 Total Deposits 76,812,150.21 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 1,432,785.75 Payment of Interest and Principal 75,379,364.46 Total Withdrawals (Pool Distribution Amount) 76,812,150.21 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 765,565.78 Credit Risk Manager's Fee 16,871.00 PMI Insurance Premium Fee 650,348.97 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 1,432,785.75
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 1,715,819.96 1,715,819.96 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT 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 26 0 0 26 3,536,226.14 0.00 0.00 3,536,226.14 30 Days 228 4 0 0 232 39,300,175.70 526,699.54 0.00 0.00 39,826,875.24 60 Days 104 1 2 0 107 16,862,082.84 399,209.70 517,560.07 0.00 17,778,852.61 90 Days 78 7 21 1 107 17,191,961.69 1,474,695.59 3,271,140.44 138,054.29 22,075,852.01 120 Days 9 1 27 1 38 1,437,085.95 650,000.00 4,492,889.15 144,875.16 6,724,850.26 150 Days 3 1 13 3 20 153,200.00 127,920.00 1,892,340.92 277,297.02 2,450,757.94 180+ Days 0 1 7 0 8 0.00 44,000.00 1,060,650.15 0.00 1,104,650.15 Totals 422 41 70 5 538 74,944,506.18 6,758,750.97 11,234,580.73 560,226.47 93,498,064.35 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 0.254179% 0.000000% 0.000000% 0.254179% 0.198819% 0.000000% 0.000000% 0.198819% 30 Days 2.228957% 0.039105% 0.000000% 0.000000% 2.268061% 2.209588% 0.029613% 0.000000% 0.000000% 2.239201% 60 Days 1.016717% 0.009776% 0.019552% 0.000000% 1.046046% 0.948043% 0.022445% 0.029099% 0.000000% 0.999587% 90 Days 0.762538% 0.068433% 0.205299% 0.009776% 1.046046% 0.966590% 0.082912% 0.183914% 0.007762% 1.241179% 120 Days 0.087985% 0.009776% 0.263955% 0.009776% 0.371493% 0.080798% 0.036545% 0.252605% 0.008145% 0.378094% 150 Days 0.029328% 0.009776% 0.127090% 0.029328% 0.195523% 0.008613% 0.007192% 0.106394% 0.015591% 0.137790% 180+ Days 0.000000% 0.009776% 0.068433% 0.000000% 0.078209% 0.000000% 0.002474% 0.059633% 0.000000% 0.062107% Totals 4.125525% 0.400821% 0.684329% 0.048881% 5.259556% 4.213632% 0.380000% 0.631646% 0.031498% 5.256775%
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 4 0 0 4 555,906.93 0.00 0.00 555,906.93 30 Days 11 0 0 0 11 935,886.75 0.00 0.00 0.00 935,886.75 60 Days 4 0 0 0 4 507,028.38 0.00 0.00 0.00 507,028.38 90 Days 3 1 0 0 4 216,960.84 108,861.92 0.00 0.00 325,822.76 120 Days 1 0 0 0 1 44,701.38 0.00 0.00 0.00 44,701.38 150 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 19 5 0 0 24 1,704,577.35 664,768.85 0.00 0.00 2,369,346.20 0-29 Days 0.488400% 0.000000% 0.000000% 0.488400% 0.547353% 0.000000% 0.000000% 0.547353% 30 Days 1.343101% 0.000000% 0.000000% 0.000000% 1.343101% 0.921487% 0.000000% 0.000000% 0.000000% 0.921487% 60 Days 0.488400% 0.000000% 0.000000% 0.000000% 0.488400% 0.499227% 0.000000% 0.000000% 0.000000% 0.499227% 90 Days 0.366300% 0.122100% 0.000000% 0.000000% 0.488400% 0.213623% 0.107187% 0.000000% 0.000000% 0.320809% 120 Days 0.122100% 0.000000% 0.000000% 0.000000% 0.122100% 0.044014% 0.000000% 0.000000% 0.000000% 0.044014% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.319902% 0.610501% 0.000000% 0.000000% 2.930403% 1.678350% 0.654540% 0.000000% 0.000000% 2.332890% 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 10 0 0 10 1,473,684.73 0.00 0.00 1,473,684.73 30 Days 66 0 0 0 66 11,348,833.02 0.00 0.00 0.00 11,348,833.02 60 Days 37 0 0 0 37 6,173,805.43 0.00 0.00 0.00 6,173,805.43 90 Days 19 1 3 0 23 3,575,887.39 181,767.68 586,377.92 0.00 4,344,032.99 120 Days 2 0 10 0 12 278,800.00 0.00 1,419,573.33 0.00 1,698,373.33 150 Days 0 1 4 0 5 0.00 127,920.00 710,500.00 0.00 838,420.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 124 12 17 0 153 21,377,325.84 1,783,372.41 2,716,451.25 0.00 25,877,149.50 0-29 Days 0.297354% 0.000000% 0.000000% 0.297354% 0.261845% 0.000000% 0.000000% 0.261845% 30 Days 1.962533% 0.000000% 0.000000% 0.000000% 1.962533% 2.016462% 0.000000% 0.000000% 0.000000% 2.016462% 60 Days 1.100208% 0.000000% 0.000000% 0.000000% 1.100208% 1.096963% 0.000000% 0.000000% 0.000000% 1.096963% 90 Days 0.564972% 0.029735% 0.089206% 0.000000% 0.683913% 0.635364% 0.032297% 0.104188% 0.000000% 0.771848% 120 Days 0.059471% 0.000000% 0.297354% 0.000000% 0.356824% 0.049537% 0.000000% 0.252230% 0.000000% 0.301767% 150 Days 0.000000% 0.029735% 0.118941% 0.000000% 0.148677% 0.000000% 0.022729% 0.126242% 0.000000% 0.148971% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.687184% 0.356824% 0.505501% 0.000000% 4.549509% 3.798326% 0.316870% 0.482659% 0.000000% 4.597856% 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 42,283.38 0.00 0.00 42,283.38 30 Days 25 0 0 0 25 1,750,321.75 0.00 0.00 0.00 1,750,321.75 60 Days 17 0 0 0 17 1,049,216.44 0.00 0.00 0.00 1,049,216.44 90 Days 15 1 2 0 18 1,773,118.74 39,836.49 276,336.52 0.00 2,089,291.75 120 Days 2 0 1 1 4 59,021.70 0.00 84,971.72 144,875.16 288,868.58 150 Days 1 0 0 0 1 36,800.00 0.00 0.00 0.00 36,800.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 60 2 3 1 66 4,668,478.63 82,119.87 361,308.24 144,875.16 5,256,781.90 0-29 Days 0.079239% 0.000000% 0.000000% 0.079239% 0.033668% 0.000000% 0.000000% 0.033668% 30 Days 1.980983% 0.000000% 0.000000% 0.000000% 1.980983% 1.393705% 0.000000% 0.000000% 0.000000% 1.393705% 60 Days 1.347068% 0.000000% 0.000000% 0.000000% 1.347068% 0.835445% 0.000000% 0.000000% 0.000000% 0.835445% 90 Days 1.188590% 0.079239% 0.158479% 0.000000% 1.426307% 1.411857% 0.031720% 0.220035% 0.000000% 1.663612% 120 Days 0.158479% 0.000000% 0.079239% 0.079239% 0.316957% 0.046996% 0.000000% 0.067659% 0.115358% 0.230013% 150 Days 0.079239% 0.000000% 0.000000% 0.000000% 0.079239% 0.029302% 0.000000% 0.000000% 0.000000% 0.029302% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 4.754358% 0.158479% 0.237718% 0.079239% 5.229794% 3.717307% 0.065388% 0.287694% 0.115358% 4.185747% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(B) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 5 0 0 5 711,028.62 0.00 0.00 711,028.62 30 Days 96 3 0 0 99 20,979,990.46 314,682.53 0.00 0.00 21,294,672.99 60 Days 32 1 0 0 33 6,507,032.72 399,209.70 0.00 0.00 6,906,242.42 90 Days 34 2 10 0 46 10,781,080.60 573,214.86 967,430.84 0.00 12,321,726.30 120 Days 2 1 13 0 16 793,050.20 650,000.00 2,114,175.65 0.00 3,557,225.85 150 Days 1 0 8 2 11 80,000.00 0.00 995,389.41 131,697.02 1,207,086.43 180+ Days 0 1 6 0 7 0.00 44,000.00 1,018,150.15 0.00 1,062,150.15 Totals 165 13 37 2 217 39,141,153.98 2,692,135.71 5,095,146.05 131,697.02 47,060,132.76 0-29 Days 0.162285% 0.000000% 0.000000% 0.162285% 0.101484% 0.000000% 0.000000% 0.101484% 30 Days 3.115871% 0.097371% 0.000000% 0.000000% 3.213242% 2.994440% 0.044914% 0.000000% 0.000000% 3.039354% 60 Days 1.038624% 0.032457% 0.000000% 0.000000% 1.071081% 0.928738% 0.056979% 0.000000% 0.000000% 0.985717% 90 Days 1.103538% 0.064914% 0.324570% 0.000000% 1.493022% 1.538766% 0.081814% 0.138080% 0.000000% 1.758660% 120 Days 0.064914% 0.032457% 0.421941% 0.000000% 0.519312% 0.113191% 0.092773% 0.301753% 0.000000% 0.507717% 150 Days 0.032457% 0.000000% 0.259656% 0.064914% 0.357027% 0.011418% 0.000000% 0.142070% 0.018797% 0.172286% 180+ Days 0.000000% 0.032457% 0.194742% 0.000000% 0.227199% 0.000000% 0.006280% 0.145319% 0.000000% 0.151599% Totals 5.355404% 0.421941% 1.200909% 0.064914% 7.043168% 5.586554% 0.384244% 0.727222% 0.018797% 6.716817% 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 41,487.08 0.00 0.00 41,487.08 30 Days 8 0 0 0 8 531,322.25 0.00 0.00 0.00 531,322.25 60 Days 1 0 0 0 1 34,871.68 0.00 0.00 0.00 34,871.68 90 Days 4 0 0 0 4 135,281.89 0.00 0.00 0.00 135,281.89 120 Days 1 0 0 0 1 45,864.32 0.00 0.00 0.00 45,864.32 150 Days 1 0 0 0 1 36,400.00 0.00 0.00 0.00 36,400.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 15 1 0 0 16 783,740.14 41,487.08 0.00 0.00 825,227.22 0-29 Days 0.207469% 0.000000% 0.000000% 0.207469% 0.099592% 0.000000% 0.000000% 0.099592% 30 Days 1.659751% 0.000000% 0.000000% 0.000000% 1.659751% 1.275468% 0.000000% 0.000000% 0.000000% 1.275468% 60 Days 0.207469% 0.000000% 0.000000% 0.000000% 0.207469% 0.083711% 0.000000% 0.000000% 0.000000% 0.083711% 90 Days 0.829876% 0.000000% 0.000000% 0.000000% 0.829876% 0.324752% 0.000000% 0.000000% 0.000000% 0.324752% 120 Days 0.207469% 0.000000% 0.000000% 0.000000% 0.207469% 0.110100% 0.000000% 0.000000% 0.000000% 0.110100% 150 Days 0.207469% 0.000000% 0.000000% 0.000000% 0.207469% 0.087380% 0.000000% 0.000000% 0.000000% 0.087380% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.112033% 0.207469% 0.000000% 0.000000% 3.319502% 1.881411% 0.099592% 0.000000% 0.000000% 1.981003% 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 5 0 0 5 711,835.40 0.00 0.00 711,835.40 30 Days 22 1 0 0 23 3,753,821.47 212,017.01 0.00 0.00 3,965,838.48 60 Days 13 0 2 0 15 2,590,128.19 0.00 517,560.07 0.00 3,107,688.26 90 Days 3 2 6 1 12 709,632.23 571,014.64 1,440,995.16 138,054.29 2,859,696.32 120 Days 1 0 3 0 4 215,648.35 0.00 874,168.45 0.00 1,089,816.80 150 Days 0 0 1 1 2 0.00 0.00 186,451.51 145,600.00 332,051.51 180+ Days 0 0 1 0 1 0.00 0.00 42,500.00 0.00 42,500.00 Totals 39 8 13 2 62 7,269,230.24 1,494,867.05 3,061,675.19 283,654.29 12,109,426.77 0-29 Days 0.409165% 0.000000% 0.000000% 0.409165% 0.288927% 0.000000% 0.000000% 0.288927% 30 Days 1.800327% 0.081833% 0.000000% 0.000000% 1.882160% 1.523638% 0.086056% 0.000000% 0.000000% 1.609694% 60 Days 1.063830% 0.000000% 0.163666% 0.000000% 1.227496% 1.051307% 0.000000% 0.210072% 0.000000% 1.261379% 90 Days 0.245499% 0.163666% 0.490998% 0.081833% 0.981997% 0.288033% 0.231769% 0.584885% 0.056035% 1.160722% 120 Days 0.081833% 0.000000% 0.245499% 0.000000% 0.327332% 0.087529% 0.000000% 0.354816% 0.000000% 0.442346% 150 Days 0.000000% 0.000000% 0.081833% 0.081833% 0.163666% 0.000000% 0.000000% 0.075679% 0.059098% 0.134776% 180+ Days 0.000000% 0.000000% 0.081833% 0.000000% 0.081833% 0.000000% 0.000000% 0.017250% 0.000000% 0.017250% Totals 3.191489% 0.654664% 1.063830% 0.163666% 5.073650% 2.950507% 0.606751% 1.242703% 0.115132% 4.915093%
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 7.194024% Weighted Average Net Coupon 6.694870% Weighted Average Pass-Through Rate 6.270838% Weighted Average Maturity(Stepdown Calculation) 349 Beginning Scheduled Collateral Loan Count 10,509 Number Of Loans Paid In Full 280 Ending Scheduled Collateral Loan Count 10,229 Beginning Scheduled Collateral Balance 1,840,472,350.11 Ending Scheduled Collateral Balance 1,777,338,066.78 Ending Actual Collateral Balance at 31-May-2005 1,778,620,217.09 Monthly P&I Constant 12,232,637.81 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 111,024.67 Cumulative Realized Loss 111,024.67 Scheduled Principal 1,198,969.93 Unscheduled Principal 61,935,313.40
Miscellaneous Reporting Excess Cash Amount 3,837,235.73 Overcollateralization Amount 9,858,285.74 Overcollateralization Deficiency Amount 0.00 Targeted Overcollateralization Amount 9,858,285.74 Cap Payment Recieved 1,715,819.96
Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.461397 7.137321 7.977794 Weighted Average Net Rate 6.963630 6.638125 7.478915 Weighted Average Maturity 349 349 345 Beginning Loan Count 831 3,467 1,288 Loans Paid In Full 12 104 26 Ending Loan Count 819 3,363 1,262 Beginning Scheduled Balance 102,623,058.05 581,919,150.11 129,212,648.80 Ending Scheduled Balance 101,478,928.31 562,356,309.70 125,471,445.11 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal And Interest Constant 732,707.27 3,898,604.48 974,844.54 Scheduled Principal 94,614.49 437,484.47 115,817.99 Unscheduled Principal 1,049,515.25 19,125,355.94 3,625,385.70 Scheduled Interest 638,092.78 3,461,120.01 859,026.55 Servicing Fees 42,568.60 242,076.80 53,717.83 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 37,962.53 250,447.36 36,002.06 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 557,561.65 2,968,595.85 769,306.66 Realized Loss Amount 34,022.25 0.00 62,403.92 Cumulative Realized Loss 34,022.25 0.00 62,403.92 Percentage of Cumulative Losses 0.0325 0.0000 0.0468 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.519724 6.121667 7.144564
Group Level Collateral Statement Group 2(B) 3(A) 3(B) Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.063118 8.234599 7.020798 Weighted Average Net Rate 6.564003 7.736254 6.520798 Weighted Average Maturity 345 346 346 Beginning Loan Count 3,171 492 1,260 Loans Paid In Full 90 10 38 Ending Loan Count 3,081 482 1,222 Beginning Scheduled Balance 729,655,136.82 42,230,096.17 254,832,260.16 Ending scheduled Balance 700,180,474.32 41,623,991.98 246,226,917.36 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal And Interest Constant 4,675,610.79 326,403.36 1,624,467.37 Scheduled Principal 380,910.29 36,613.42 133,529.27 Unscheduled Principal 29,093,752.21 569,490.77 8,471,813.53 Scheduled Interest 4,294,700.50 289,789.94 1,490,938.10 Servicing Fees 303,484.78 17,537.66 106,180.11 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 245,333.30 11,405.19 69,198.53 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 3,745,882.42 260,847.09 1,315,559.46 Realized Loss Amount 14,598.50 0.00 0.00 Cumulative Realized Loss 14,598.50 0.00 0.00 Percentage of Cumulative Losses 0.0018 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.160525 7.412167 6.194943
Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 7.194024 Weighted Average Net Rate 6.694870 Weighted Average Maturity 349.00 Record Date 05/31/2005 Principal And Interest Constant 12,232,637.81 Beginning Loan Count 10,509 Loans Paid In Full 280 Ending Loan Count 10,229 Beginning Scheduled Balance 1,840,472,350.11 Ending Scheduled Balance 1,777,338,066.78 Scheduled Principal 1,198,969.93 Unscheduled Principal 61,935,313.40 Scheduled Interest 11,033,667.88 Servicing Fee 765,565.78 Master Servicing Fee 0.00 Trustee Fee 0.00 Fry Amount 0.00 Special Hazard Fee 0.00 Other Fee 650,348.97 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 9,617,753.13 Realized Loss Amount 111,024.67 Cumulative Realized Loss 111,024.67 Percentage of Cumulative Losses 0.0056 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 6.270838
Ex 99.2
theMurrayhillcompany SAIL 2005-1 Credit Risk Manager Report May 2005 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 c 2005 The Murrayhill Company. All Rights Reserved. Section One Executive Summary SAIL 2005-1 Executive Summary May 2005 Transaction Summary Closing Date: 1/28/2005 Depositor: Structured Asset Securities Corporation Trustee(s): La Salle Bank Securities Administrator: Wells Fargo Bank, N.A. Master Servicer: Aurora Loan Services Master Servicing Servicer(s): Aurora Loan Services, Chase Home Finance, Countrywide, Ocwen Financial Services, Option One Mortgage, Wells Fargo Bank, N.A. Mortgage Insurer(s): Mortgage Guaranty Insurance Corporation, PMI Mortgage Insurance Co., Republic Mortgage Insurance Company Delinquency Reporting Method: OTS^1 Collateral Summary 4/30/2005 as a Percentage of Closing Date 4/30/2005^2 Closing Date Collateral Balance $1,973,744,294 $1,829,853,984 92.70% Loan Count 11,061 10,464 94.60% 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. Loan Servicing Transfer In the 4/25/2005 remittance, approximately 5,428 loans were transfered from one servicer to two other servicers in this security. As of the 5/25/2005 remittance, Murrayhill has received all of the data for these servicer transferred loans. Collateral Statistics Loan Count Summed Balance Repurchases* 0 $0 First Payment Defaults 41 $6,368,200 Early Payment Defaults** 193 $36,962,447 Multiple Loans to One Borrower 2,097 $253,876,241 *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 1,309 $64,398,710 30 Days Delinquent 24 $1,170,174 60 Days Delinquent 17 $1,114,224 90+ Days Delinquent 14 $602,806 Prepayments Remittance Date Beginning Collateral Balance Total Prepayments Percentage of Prepayment 5/25/2005 $1,890,554,876 $48,860,915 2.58 4/25/2005 $1,926,877,420 $35,087,746 1.82 3/25/2005 $1,956,382,560 $28,264,994 1.44 Prepayment Premium Analysis Prepayment Premium Issues from Prior Months Outstanding Loans that did not have Premiums Remitted Remittance Loan Number PPP Flag Expiration Liquidation Date Status Date 2/25/2005 5986320 11/8/2006 1/31/2005 The servicer responded that a premium will be remitted in the June remittance. 3/25/2005 5988467 10/25/2006 2/7/2005 A premium in the amount of $5,356 was remitted in the 5/25/2005 remittance. 3/25/2005 5984527 11/18/2007 2/11/2005 The servicer responded that a premium in the amount of $1,331 will be remitted in the June remittance. 3/25/2005 5987078 11/19/2007 2/14/2005 The servicer responded that it was unable to obtain a copy of the note from the investor; therefore, no premium was charged. 3/25/2005 5981934 11/30/2007 2/17/2005 The servicer responded that a premium will be remitted in the July remittance. 4/25/2005 5989152 10/18/2006 3/28/2005 Awaiting servicer's response. 4/25/2005 5978353 10/19/2006 3/30/2005 A New York state statute prohibits the collection of prepayment premiums on loans whose interest rate is not fixed for at least five years. As this loan was a two-year ARM, no premium was remitted. 4/25/2005 5979802 10/29/2006 3/31/2005 The servicer responded that the custodian was unable to obtain the loan documents necessary to calculate the prepayment premium; therefore, no premium was included in the payoff statement to the borrower. Prepayment Premium Issues for the Current Month In the 5/25/2005 remittance, 127 loans with active prepayment premium flags were paid off. The servicers remitted premiums for 126 of these loans, totaling $718,900; however, the master servicer remitted $675,048 to the P Class, a difference of $43,852. This difference is the exact amount remitted by one of the servicers. We have contacted the master servicer regarding this issue and await a response. Loan number 5978260 did not collect a premium because of a New Jersey state statute which prohibits the collection of prepayment premiums. c 2005 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for SAIL 2005-1 Mortgage Data Through: April 30, 2005 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-May-05 25-Apr-05 25-Mar-05 25-Feb-05 P Class $675,048 $487,302 $329,233 $109,951 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-May-05 25-Apr-05 25-Mar-05 25-Feb-05 TOTAL $718,900 $487,302 $329,233 $109,951 Section 3: Reconciliation of the amount remitted to the P Class by the trustee and the amounts remitted by the servicers to the trustee. Amount remitted to the P Class: $675,048 Amount remitted by servicers: $718,900 Difference*: ($43,852) *Please see the Executive Summary for an explanation of this difference. Aggregate Paid-Off Loans Report for SAIL 2005-1 Mortgage Data Through: April 30, 2005 Trustee Remittance Date 25-May-05 25-Apr-05 25-Mar-05 25-Feb-05 Loans with Active Prepayment Flags with Premiums Remitted (A) 126 71 46 18 Loans without Prepayment Flags wtih Premiums Remitted 0 0 0 0 Total Loans with Premiums Remitted (B) 126 71 46 18 Loans with Active Prepayment Flags (C) 127 74 48 19 Loans without Prepayment Flags with Premiums Remitted 0 0 0 0 Subtotal (D) 127 74 48 19 Premiums Remitted for loans with Active Prepayment Flags (A/C) 99.21% 95.95% 95.83% 94.74% Total Loans with Premiums Remitted to the Subtotal (B/D) 99.21% 95.95% 95.83% 94.74% Total Paid-Off Loans (E) 219 162 115 52 Total Loans with Premiums Remitted to the Total Paid-Off Loans (B/E) 57.53% 43.83% 40.00% 34.62% Paid-Off Loans Exception Report for SAIL 2005-1 Mortgage Data Through: April 30, 2005 Total Total Paid-Off Loans with Flags 128 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 out of 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* 1 Loans that were Liquidated Through Loss Mitigation Efforts* 0 Total Paid-Off Loans with Active Prepayment Flags (C) 127 Other Exceptions: Paid-Off Loans that Did Not Have Premiums Collected because of State Statutes 1 Paid-Off Loans with Active Prepayment Flags that Did Not Have Premiums Remitted 0 * These categories are mutually exclusive. Paid-Off Loans With Prepayment Flags for SAIL 2005-1 Mortgage Data Through: April 30, 2005 Delinquency Origination PPP Payoff Loan Number String Date Flag Exp. Date Balance 5978260 CCC0 10/19/2004 3 10/19/2007 $ 335,750 5981549 36F0 10/14/2004 2 10/14/2006 $ 156,600 5988363 CCC0 9/20/2004 1 9/20/2005 $ 160,000 5988458 CCC0 10/8/2004 1 10/8/2005 $ 100,513 5978284 CCC0 10/14/2004 1 10/14/2005 $ 149,039 5985125 0 11/5/2004 1 11/5/2005 $ 156,571 5985903 0 11/16/2004 1 11/16/2005 $ 183,025 5981178 CCC0 8/20/2004 2 8/20/2006 $ 559,868 5987678 CCC0 8/26/2004 2 8/26/2006 $ 495,000 5981115 CCC0 8/31/2004 2 8/31/2006 $ 397,849 5987602 C360 9/14/2004 2 9/14/2006 $ 224,000 5988614 CCC0 9/15/2004 2 9/15/2006 $ 155,105 5980104 CCC0 9/20/2004 2 9/20/2006 $ 73,293 5980910 CCC0 9/21/2004 2 9/21/2006 $ 221,078 5988271 CCC0 9/21/2004 2 9/21/2006 $ 254,853 5978238 CCC0 9/23/2004 2 9/23/2006 $ 95,572 5987577 CCC0 9/24/2004 2 9/24/2006 $ 195,998 5987596 CCC0 9/24/2004 2 9/24/2006 $ 315,000 5987863 CCC0 9/30/2004 2 9/30/2006 $ 439,909 5980521 CCC0 9/30/2004 2 9/30/2006 $ 130,866 5983278 CCC0 10/4/2004 2 10/4/2006 $ 49,506 5986609 CCC0 10/5/2004 2 10/5/2006 $ 349,548 5985008 CCC0 10/5/2004 2 10/5/2006 $ 127,560 5987723 CCC0 10/6/2004 2 10/6/2006 $ 113,623 5982696 CCC0 10/8/2004 2 10/8/2006 $ 149,504 5979950 CCC0 10/8/2004 2 10/8/2006 $ 55,889 5979744 CCC0 10/15/2004 2 10/15/2006 $ 38,124 5989173 CCC0 10/18/2004 2 10/18/2006 $ 428,265 5978345 CCC0 10/19/2004 2 10/19/2006 $ 356,150 5978179 CCC0 10/22/2004 2 10/22/2006 $ 216,000 5980831 CCC0 10/22/2004 2 10/22/2006 $ 189,484 5980837 CCC0 10/22/2004 2 10/22/2006 $ 191,277 5981474 CCC0 10/22/2004 2 10/22/2006 $ 119,791 5980634 CCC0 10/25/2004 2 10/25/2006 $ 145,379 5980306 CCC0 10/25/2004 2 10/25/2006 $ 102,343 5980889 CCC0 10/26/2004 2 10/26/2006 $ 209,529 5980531 CCC0 10/26/2004 2 10/26/2006 $ 131,477 5979687 CCC0 10/26/2004 2 10/26/2006 $ 32,936 5988594 CCC0 10/26/2004 2 10/26/2006 $ 358,117 5987305 CCC0 10/29/2004 2 10/29/2006 $ 226,790 5980840 CCC0 10/29/2004 2 10/29/2006 $ 191,424 5986240 0 11/1/2004 2 11/1/2006 $ 362,028 5986336 0 11/1/2004 2 11/1/2006 $ 108,800 5983677 CCC0 11/2/2004 2 11/2/2006 $ 75,335 5980563 CCC0 11/2/2004 2 11/2/2006 $ 135,503 5984756 0 11/2/2004 2 11/2/2006 $ 195,093 5987274 0 11/2/2004 2 11/2/2006 $ 250,670 5984297 CCC0 11/3/2004 2 11/3/2006 $ 155,875 5983597 0 11/4/2004 2 11/4/2006 $ 333,777 5981898 CCC0 11/5/2004 2 11/5/2006 $ 248,961 5984298 C30 11/5/2004 2 11/5/2006 $ 260,000 5982904 0 11/5/2004 2 11/5/2006 $ 359,855 5985101 0 11/5/2004 2 11/5/2006 $ 225,691 5982858 CCC0 11/8/2004 2 11/8/2006 $ 156,865 5985609 0 11/8/2004 2 11/8/2006 $ 184,832 5982724 CCC0 11/9/2004 2 11/9/2006 $ 143,098 5987237 CCC0 11/9/2004 2 11/9/2006 $ 239,512 5982705 0 11/9/2004 2 11/9/2006 $ 202,041 5985083 0 11/9/2004 2 11/9/2006 $ 91,299 5987099 0 11/9/2004 2 11/9/2006 $ 150,762 5985067 CCC0 11/12/2004 2 11/12/2006 $ 142,254 5987244 CCC0 11/12/2004 2 11/12/2006 $ 292,077 5984315 0 11/12/2004 2 11/12/2006 $ 484,327 5981685 CCC0 11/15/2004 2 11/15/2006 $ 433,724 5981909 CCC0 11/16/2004 2 11/16/2006 $ 229,557 5985096 CCC0 11/17/2004 2 11/17/2006 $ 135,630 5984277 0 11/17/2004 2 11/17/2006 $ 281,019 5986582 0 11/17/2004 2 11/17/2006 $ 251,098 5986686 0 11/17/2004 2 11/17/2006 $ 272,328 5982453 CCC0 11/18/2004 2 11/18/2006 $ 237,041 5982780 CCC0 11/18/2004 2 11/18/2006 $ 398,621 5985992 CCC0 11/18/2004 2 11/18/2006 $ 314,429 5982516 0 11/18/2004 2 11/18/2006 $ 149,393 5983452 CCC0 11/19/2004 2 11/19/2006 $ 89,680 5982570 0 11/19/2004 2 11/19/2006 $ 160,292 5986492 CCC0 11/23/2004 2 11/23/2006 $ 269,650 5985601 0 11/23/2004 2 11/23/2006 $ 160,526 5987958 CCC0 11/24/2004 2 11/24/2006 $ 596,700 5984196 CCC0 11/24/2004 2 11/24/2006 $ 251,500 5986870 0 11/24/2004 2 11/24/2006 $ 50,259 5987262 CC30 11/29/2004 2 11/29/2006 $ 161,929 5983099 CCC0 11/30/2004 2 11/30/2006 $ 204,312 5984862 CCC0 11/30/2004 2 11/30/2006 $ 101,767 5986589 CCC0 11/30/2004 2 11/30/2006 $ 305,600 5986072 0 11/30/2004 2 11/30/2006 $ 381,717 5988517 CCC0 8/26/2004 3 8/26/2007 $ 75,554 5988746 3C0 9/20/2004 3 9/20/2007 $ 378,889 5979397 CCC0 9/24/2004 3 9/24/2007 $ 122,764 5979358 CCC0 10/6/2004 3 10/6/2007 $ 166,675 5983725 CCC0 10/8/2004 3 10/8/2007 $ 381,222 5988449 CCC0 10/8/2004 3 10/8/2007 $ 164,985 5988205 CCC0 10/11/2004 3 10/11/2007 $ 391,723 5989142 CCC0 10/18/2004 3 10/18/2007 $ 100,573 5988454 CCC0 10/21/2004 3 10/21/2007 $ 246,820 5988777 CCC0 10/22/2004 3 10/22/2007 $ 42,954 5989002 CCC0 10/22/2004 3 10/22/2007 $ 149,602 5979189 CCC0 10/25/2004 3 10/25/2007 $ 116,000 5988730 CCC0 10/26/2004 3 10/26/2007 $ 38,334 5985882 0 11/1/2004 3 11/1/2007 $ 93,990 5986241 0 11/1/2004 3 11/1/2007 $ 90,166 5987034 0 11/1/2004 3 11/1/2007 $ 118,555 5984503 CCC0 11/3/2004 3 11/3/2007 $ 222,725 5982910 0 11/3/2004 3 11/3/2007 $ 523,566 5982911 0 11/3/2004 3 11/3/2007 $ 97,672 5982068 CCC0 11/5/2004 3 11/5/2007 $ 349,334 5983596 0 11/5/2004 3 11/5/2007 $ 250,278 5984299 0 11/5/2004 3 11/5/2007 $ 65,181 5986729 0 11/10/2004 3 11/10/2007 $ 597,176 5979136 CC30 11/15/2004 3 11/15/2007 $ 217,439 5978645 CCC0 11/15/2004 3 11/15/2007 $ 131,683 5985705 0 11/23/2004 3 11/23/2007 $ 158,951 5978858 CCC0 11/24/2004 3 11/24/2007 $ 141,677 5986179 0 11/24/2004 3 11/24/2007 $ 29,385 5986708 CCC0 11/29/2004 3 11/29/2007 $ 175,520 5978609 CCC0 11/30/2004 3 11/30/2007 $ 373,363 5978559 CCC0 11/30/2004 3 11/30/2007 $ 128,366 5984356 0 11/30/2004 3 11/30/2007 $ 78,288 5978821 CCC0 11/29/2004 5 11/29/2009 $ 234,359 Paid-Off Loans With Prepayment Flags for SAIL 2005-1 Mortgage Data Through: April 30, 2005 (Continued) % of PPP Premium to No Premium PPP Loan Number Remitted Payoff Remitted, w/ Remitted, Comments Balance Flag No Flag 5978260 $ - 0% 5978260 Awaiting servicer's response 5981549 $ - 0% Liquidated out of foreclosure status 5988363 $ 4,784 3% 5988458 $ 3,111 3% 5978284 $ 1,490 1% 5985125 $ 5,136 3% 5985903 $ 5,060 3% 5981178 $ 11,197 2% 5987678 $ 15,642 3% 5981115 $ 10,914 3% 5987602 $ 6,048 3% 5988614 $ 4,106 3% 5980104 $ 2,077 3% 5980910 $ 6,168 3% 5988271 $ 5,102 2% 5978238 $ 710 1% 5987577 $ 5,331 3% 5987596 $ 9,639 3% 5987863 $ 11,879 3% 5980521 $ 4,572 3% 5983278 $ 495 1% 5986609 $ 9,006 3% 5985008 $ 3,467 3% 5987723 $ 3,175 3% 5982696 $ 4,177 3% 5979950 $ 2,123 4% 5979744 $ 1,448 4% 5989173 $ 8,565 2% 5978345 $ 17,808 5% 5978179 $ 4,320 2% 5980831 $ 6,047 3% 5980837 $ 5,725 3% 5981474 $ 4,186 3% 5980634 $ 1,028 1% 5980306 $ 4,302 4% 5980889 $ 6,268 3% 5980531 $ 3,147 2% 5979687 $ 1,251 4% 5988594 $ 11,452 3% 5987305 $ 2,266 1% 5980840 $ 5,731 3% 5986240 $ 10,008 3% 5986336 $ 3,196 3% 5983677 $ 2,363 3% 5980563 $ 2,710 2% 5984756 $ 2,218 1% 5987274 $ 7,719 3% 5984297 $ 5,113 3% 5983597 $ 9,272 3% 5981898 $ 6,954 3% 5984298 $ 6,916 3% 5982904 $ 12,158 3% 5985101 $ 7,167 3% 5982858 $ 4,421 3% 5985609 $ 5,402 3% 5982724 $ 4,516 3% 5987237 $ 5,650 2% 5982705 $ 6,349 3% 5985083 $ 2,780 3% 5987099 $ 4,496 3% 5985067 $ 3,839 3% 5987244 $ 8,934 3% 5984315 $ 13,482 3% 5981685 $ 10,597 2% 5981909 $ 7,572 3% 5985096 $ 3,551 3% 5984277 $ 8,825 3% 5986582 $ 8,430 3% 5986686 $ 6,767 2% 5982453 $ 6,444 3% 5982780 $ 7,972 2% 5985992 $ 8,171 3% 5982516 $ 4,990 3% 5983452 $ 1,828 2% 5982570 $ 4,247 3% 5986492 $ 7,928 3% 5985601 $ 4,883 3% 5987958 $ 11,934 2% 5984196 $ 8,145 3% 5986870 $ 1,000 2% 5987262 $ 4,851 3% 5983099 $ 5,655 3% 5984862 $ 1,577 2% 5986589 $ 7,090 2% 5986072 $ 8,916 2% 5988517 $ 756 1% 5988746 $ 11,548 3% 5979397 $ 2,454 2% 5979358 $ 4,241 3% 5983725 $ 10,589 3% 5988449 $ 5,444 3% 5988205 $ 3,913 1% 5989142 $ 2,011 2% 5988454 $ 7,152 3% 5988777 $ 2,126 5% 5989002 $ 4,844 3% 5979189 $ 3,132 3% 5988730 $ 1,629 4% 5985882 $ 3,552 4% 5986241 $ 3,672 4% 5987034 $ 2,949 2% 5984503 $ 6,990 3% 5982910 $ 16,232 3% 5982911 $ 3,843 4% 5982068 $ 6,987 2% 5983596 $ 7,210 3% 5984299 $ 2,593 4% 5986729 $ 4,455 1% 5979136 $ 6,522 3% 5978645 $ 3,764 3% 5985705 $ 4,243 3% 5978858 $ 4,673 3% 5986179 $ 292 1% 5986708 $ 4,560 3% 5978609 $ 9,521 3% 5978559 $ 3,464 3% 5984356 $ 3,292 4% 5978821 $ 6,082 3% c 2005 The Murrayhill Company. All Rights Reserved. Section Three Analytics SAIL 2005-1 FICO Distribution by Status Mortgage Data Through: April 30, 2005 FICO Delinquency Percentage 470 Current 0 500 Current 0.007 500 Delinquent 0.003 500 Paid Off 0.004 510 Current 0.018 510 Delinquent 0.036 510 Paid Off 0.03 520 Current 0.023 520 Delinquent 0.044 520 Paid Off 0.043 530 Current 0.03 530 Delinquent 0.054 530 Paid Off 0.021 540 Current 0.038 540 Delinquent 0.059 540 Paid Off 0.045 550 Current 0.04 550 Delinquent 0.077 550 Paid Off 0.045 560 Current 0.039 560 Delinquent 0.044 560 Paid Off 0.056 570 Current 0.039 570 Delinquent 0.059 570 Paid Off 0.039 580 Current 0.049 580 Delinquent 0.054 580 Paid Off 0.049 590 Current 0.049 590 Delinquent 0.049 590 Paid Off 0.03 600 Current 0.064 600 Delinquent 0.08 600 Paid Off 0.062 610 Current 0.066 610 Delinquent 0.069 610 Paid Off 0.069 620 Current 0.071 620 Delinquent 0.075 620 Paid Off 0.049 630 Current 0.074 630 Delinquent 0.041 630 Paid Off 0.075 640 Current 0.073 640 Delinquent 0.046 640 Paid Off 0.077 650 Current 0.06 650 Delinquent 0.031 650 Paid Off 0.054 660 Current 0.055 660 Delinquent 0.044 660 Paid Off 0.047 670 Current 0.04 670 Delinquent 0.021 670 Paid Off 0.045 680 Current 0.036 680 Delinquent 0.015 680 Paid Off 0.028 690 Current 0.03 690 Delinquent 0.015 690 Paid Off 0.021 700 Current 0.02 700 Delinquent 0.028 700 Paid Off 0.015 710 Current 0.018 710 Delinquent 0.013 710 Paid Off 0.017 720 Current 0.017 720 Delinquent 0.005 720 Paid Off 0.009 730 Current 0.012 730 Delinquent 0.003 730 Paid Off 0.015 740 Current 0.009 740 Delinquent 0.021 740 Paid Off 0.013 750 Current 0.007 750 Delinquent 0.008 750 Paid Off 0.015 760 Current 0.006 760 Delinquent 0.003 760 Paid Off 0.011 770 Current 0.004 770 Delinquent 0.003 770 Paid Off 0.004 780 Current 0.002 780 Delinquent 0.003 780 Paid Off 0.009 790 Current 0.001 800 Current 0 800 Paid Off 0.002 810 Current 0 Status # of Loans Average Std. Deviation Current 10,075 619 59.014 Delinquent 389 600 59.042 Paid Off 466 616 63.075 Total: 10,930 SAIL 2005-1 Loan-to-Value Distribution by Status Mortgage Data Through: April 30, 2005 LTV Delinquency Percentage 0.1 Paid Off 0.004 0.1 Current 0.001 0.2 Current 0.123 0.2 Delinquent 0.136 0.2 Paid Off 0.075 0.3 Delinquent 0.003 0.3 Paid Off 0.006 0.3 Current 0.006 0.4 Paid Off 0.013 0.4 Delinquent 0.005 0.4 Current 0.01 0.5 Delinquent 0.005 0.5 Current 0.021 0.5 Paid Off 0.017 0.6 Current 0.043 0.6 Paid Off 0.056 0.6 Delinquent 0.021 0.7 Paid Off 0.139 0.7 Current 0.095 0.7 Delinquent 0.08 0.8 Paid Off 0.358 0.8 Delinquent 0.44 0.8 Current 0.382 0.9 Paid Off 0.251 0.9 Delinquent 0.242 0.9 Current 0.24 1 Delinquent 0.069 1 Paid Off 0.079 1 Current 0.079 Status # of Loans Average Std. Deviation Current 10,075 1.452 0.455 Delinquent 389 1.458 0.456 Paid Off 466 1.493 0.399 Total: 10,930 SAIL 2005-1 Balance Distribution by Status Mortgage Data Through: April 30, 2005 Balance Delinquency Percentage 0 Current 0 10000 Current 0.001 20000 Current 0.018 20000 Delinquent 0.018 30000 Current 0.04 30000 Delinquent 0.036 40000 Current 0.04 40000 Delinquent 0.064 50000 Current 0.039 50000 Delinquent 0.075 60000 Current 0.04 60000 Delinquent 0.051 70000 Current 0.04 70000 Delinquent 0.028 80000 Current 0.039 80000 Delinquent 0.057 90000 Current 0.037 90000 Delinquent 0.039 100000 Current 0.042 100000 Delinquent 0.026 110000 Current 0.042 110000 Delinquent 0.046 120000 Current 0.042 120000 Delinquent 0.026 130000 Current 0.041 130000 Delinquent 0.049 140000 Current 0.039 140000 Delinquent 0.033 150000 Current 0.035 150000 Delinquent 0.036 160000 Current 0.032 160000 Delinquent 0.033 170000 Current 0.029 170000 Delinquent 0.015 180000 Current 0.032 180000 Delinquent 0.028 190000 Current 0.027 190000 Delinquent 0.018 200000 Current 0.025 200000 Delinquent 0.018 210000 Current 0.026 210000 Delinquent 0.031 220000 Current 0.022 220000 Delinquent 0.013 230000 Current 0.021 230000 Delinquent 0.01 240000 Current 0.016 240000 Delinquent 0.018 250000 Current 0.02 250000 Delinquent 0.015 260000 Current 0.018 260000 Delinquent 0.01 270000 Current 0.014 270000 Delinquent 0.01 280000 Current 0.013 280000 Delinquent 0.013 290000 Current 0.012 290000 Delinquent 0.008 300000 Current 0.014 300000 Delinquent 0.003 310000 Current 0.011 310000 Delinquent 0.005 320000 Current 0.013 320000 Delinquent 0.013 330000 Current 0.011 330000 Delinquent 0.008 340000 Current 0.01 340000 Delinquent 0.013 350000 Current 0.009 350000 Delinquent 0.01 360000 Current 0.008 360000 Delinquent 0.013 370000 Current 0.007 370000 Delinquent 0.005 380000 Current 0.007 380000 Delinquent 0.013 390000 Current 0.006 390000 Delinquent 0.003 400000 Current 0.008 400000 Delinquent 0.003 410000 Current 0.004 410000 Delinquent 0.01 420000 Current 0.005 420000 Delinquent 0.005 430000 Current 0.004 440000 Current 0.005 440000 Delinquent 0.005 450000 Current 0.005 450000 Delinquent 0.01 460000 Current 0.002 460000 Delinquent 0.005 470000 Current 0.003 470000 Delinquent 0.005 480000 Current 0.002 480000 Delinquent 0.005 490000 Current 0.002 500000 Current 0.003 500000 Delinquent 0.005 510000 Current 0.002 510000 Delinquent 0.003 520000 Current 0.001 520000 Delinquent 0.01 530000 Current 0.001 530000 Delinquent 0.005 540000 Current 0.001 540000 Delinquent 0.003 550000 Current 0.002 560000 Current 0.001 570000 Current 0.001 580000 Current 0.001 590000 Current 0 600000 Current 0.001 610000 Current 0 620000 Current 0.001 620000 Delinquent 0.003 630000 Current 0.001 640000 Current 0.001 650000 Current 0.001 650000 Delinquent 0.003 660000 Current 0 670000 Current 0 680000 Current 0 690000 Current 0 720000 Current 0 720000 Delinquent 0.003 730000 Current 0 730000 Delinquent 0.003 740000 Current 0 750000 Current 0 750000 Delinquent 0.003 760000 Current 0 790000 Current 0 790000 Delinquent 0.003 800000 Current 0 810000 Current 0 820000 Current 0 840000 Current 0 850000 Current 0 880000 Current 0 960000 Current 0 1000000 Current 0 1300000 Current 0 Status # of Loans Average Std. Deviation Current 10,075 174,884.10 123,250.97 Delinquent 389 174,541.55 142,067.98 Total: 10,464 SAIL 2005-1 Mortgage Type Distribution by Status Mortgage Data Through: April 30, 2005 Mortgage Type Delinquency Percentage Investment Home Current 0.086 Investment Home Delinquent 0.085 Investment Home Paid Off 0.097 Primary Home Current 0.907 Primary Home Delinquent 0.91 Primary Home Paid Off 0.895 Second Home Current 0.008 Second Home Delinquent 0.005 Second Home Paid Off 0.009 Mortgage Type Loan Count Total Balance Avg. Balance Std. Deviation ARM 8,276 1,557,921,493.87 188,245.71 128,405.48 Fixed 2,654 271,932,490.50 102,461.38 93,674.48 Total: 10,930 1,829,853,984.37 SAIL 2005-1 Mortgage Term Distribution by Status Mortgage Data Through: April 30, 2005 Mortgage Term Delinquency Percentage 120 Current 0 180 Current 0.091 180 Delinquent 0.103 180 Paid Off 0.058 240 Paid Off 0.019 240 Delinquent 0.031 240 Current 0.04 360 Current 0.869 360 Delinquent 0.866 360 Paid Off 0.923 # of Loans Other 120 180 240 360 10,930 0 1 986 423 9520 SAIL 2005-1 Mortgage Purpose Distribution Mortgage Data Through: April 30, 2005 Origination Statistics Current Loans Delinquent Loans Paid Off Loans Purpose Number Percentage Purpose Number Percentage Purpose Number Percentage Purpose Number Percentage Cash-out 5,137 46.4% Cash-out 4,728 46.9% Cash-out 119 30.6% Cash-out 230 49.4% refinance refinance refinance refinance Purchase 5,046 45.6% Purchase 4,560 45.3% Purchase 237 60.9% Purchase 191 41.0% Rate/term 676 6.1% Rate/term 608 6.0% Rate/term 25 6.4% Rate/term 32 6.9% refinance refinance refinance refinance Home 0 0.0% Home 0 0.0% Home 0 0.0% Home 0 0.0% Improvement Improvement Improvement Improvement Other 202 1.8% Other 179 1.8% Other 8 2.1% Other 13 2.8% Total 11,061 100% Total 10,075 100% Total 389 100% Total 466 100% SAIL 2005-1 Ownership Distribution by Status Mortgage Data Through: April 30, 2005 Ownership Type Delinquency Percentage Investment Home Current 0.086 Investment Home Delinquent 0.085 Investment Home Paid Off 0.097 Primary Home Current 0.907 Primary Home Delinquent 0.91 Primary Home Paid Off 0.895 Second Home Current 0.008 Second Home Delinquent 0.005 Second Home Paid Off 0.009 Title # of Loans Investment Home 942 Primary Home 9,906 Second Home 82 Total: 10,930 SAIL 2005-1 Delinquent Count Over Time Mortgage Data Through: April 30, 2005 AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 1/31/2005 81 9 0 0 0 2/28/2005 183 41 3 9 0 3/31/2005 117 68 16 31 0 4/30/2005 203 90 30 64 2 SAIL 2005-1 Delinquent Balance Over Time Mortgage Data Through: April 30, 2005 AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 1/31/2005 12437948.15 838801.47 0 0 0 2/28/2005 32142854.9 5371608.89 583446.15 1454207.2 0 3/31/2005 19185193.51 11163015.58 1921961.06 4997287.18 0 4/30/2005 34439211.56 17972465.22 4188265.28 11165024.88 131697.02 SAIL 2005-1 Conditional Prepayment Rates Mortgage Data Through: April 30, 2005 Date Distribution Date CPR 3-Month MA 6-Month MA 12-Month MA 4/30/2005 5/25/2005 27.01% 21.12% 3/31/2005 4/25/2005 19.88% 2/28/2005 3/25/2005 16.08% 1/31/2005 2/25/2005 8.20% SAIL 2005-1 Historical SDA Performance Mortgage Data Through: April 30, 2005 Weighted Monthly Date Average Age Default Amt Default Rate CDR (F-R) SDA Curve SDA % 30-Apr-05 5.46 $131,697 0.00% 0.00% 0.11% 0% 31-Mar-05 3.37 $0 0.00% 0.00% 0.07% 0% 28-Feb-05 3.48 $0 0.00% 0.00% 0.07% 0% 31-Jan-05 2.44 $0 0.00% 0.00% 0.05% 0% Averages: 3.69 $32,924 0.00% 0.00% 0.07% 0% Copyright 2005, The Murrayhill Company. All Rights Reserved.
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