8-K 1 ace05he1_10504.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): April 25, 2005 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series ACE 2005-HE1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-119047-05 54-2165618 Pooling and Servicing Agreement) (Commission 54-2165619 (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 April 25, 2005 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series ACE 2005-HE1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series ACE 2005-HE1 Trust, relating to the April 25, 2005 distribution. 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. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series ACE 2005-HE1 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: 4/25/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series ACE 2005-HE1 Trust, relating to the April 25, 2005 distribution. EX-99.1
ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 3/31/2005 Distribution Date: 4/25/2005 ACE Securities Corporation Asset Backed Pass-Through Certificates Series ACE 2005-HE1 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 A-1A 004421KP7 SEN 3.09000% 713,111,013.66 1,897,469.56 15,805,752.63 A-1B 004421KQ5 SEN 3.14000% 178,277,997.87 482,043.90 3,951,443.58 A-2A 004421KR3 SEN 2.97000% 179,688,889.96 459,554.34 4,137,260.10 A-2B 004421KS1 SEN 3.08000% 60,016,000.00 159,175.77 0.00 A-2C 004421KT9 SEN 3.20000% 47,430,000.00 130,696.00 0.00 M-1 004421KU6 SEN 3.33000% 58,509,000.00 167,774.56 0.00 M-2 004421KV4 SEN 3.35000% 49,271,000.00 142,133.15 0.00 M-3 004421KW2 SEN 3.40000% 30,024,000.00 87,903.60 0.00 M-4 004421KX0 SEN 3.57000% 29,255,000.00 89,934.75 0.00 M-5 004421KY8 SEN 3.63000% 36,953,000.00 115,508.92 0.00 M-6 004421KZ5 SEN 3.70000% 20,016,000.00 63,773.20 0.00 M-7 004421LA9 SEN 4.13000% 15,397,000.00 54,757.72 0.00 M-8 004421LB7 SEN 4.23000% 19,246,000.00 70,103.56 0.00 M-9 004421LC5 SEN 5.05000% 18,477,000.00 80,349.29 0.00 B-1 004421LD3 SEN 6.10000% 25,405,000.00 133,446.82 0.00 B-2 004421LE1 SEN 6.10000% 21,556,000.00 113,228.88 0.00 CE ACE05HE1CE SEN 0.00000% 10,778,018.64 4,189,351.20 0.00 CE-1 ACE05HE1CE1 SEN 0.00000% 0.00 19,518.69 0.00 P ACE05HE1P SEN 0.00000% 100.00 547,601.75 0.00 R ACE5HE1R1 SEN 0.00000% 0.00 0.00 0.00 Totals 1,513,411,020.13 9,004,325.66 23,894,456.31
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1A 0.00 697,305,261.03 17,703,222.19 0.00 A-1B 0.00 174,326,554.29 4,433,487.48 0.00 A-2A 0.00 175,551,629.86 4,596,814.44 0.00 A-2B 0.00 60,016,000.00 159,175.77 0.00 A-2C 0.00 47,430,000.00 130,696.00 0.00 M-1 0.00 58,509,000.00 167,774.56 0.00 M-2 0.00 49,271,000.00 142,133.15 0.00 M-3 0.00 30,024,000.00 87,903.60 0.00 M-4 0.00 29,255,000.00 89,934.75 0.00 M-5 0.00 36,953,000.00 115,508.92 0.00 M-6 0.00 20,016,000.00 63,773.20 0.00 M-7 0.00 15,397,000.00 54,757.72 0.00 M-8 0.00 19,246,000.00 70,103.56 0.00 M-9 0.00 18,477,000.00 80,349.29 0.00 B-1 0.00 25,405,000.00 133,446.82 0.00 B-2 0.00 21,556,000.00 113,228.88 0.00 CE 0.00 10,778,018.64 4,189,351.20 0.00 CE-1 0.00 0.00 19,518.69 0.00 P 0.00 100.00 547,601.75 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 1,489,516,563.82 32,898,781.97 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) A-1A 729,291,000.00 713,111,013.66 0.00 15,805,752.63 0.00 0.00 A-1B 182,323,000.00 178,277,997.87 0.00 3,951,443.58 0.00 0.00 A-2A 185,769,000.00 179,688,889.96 0.00 4,137,260.10 0.00 0.00 A-2B 60,016,000.00 60,016,000.00 0.00 0.00 0.00 0.00 A-2C 47,430,000.00 47,430,000.00 0.00 0.00 0.00 0.00 M-1 58,509,000.00 58,509,000.00 0.00 0.00 0.00 0.00 M-2 49,271,000.00 49,271,000.00 0.00 0.00 0.00 0.00 M-3 30,024,000.00 30,024,000.00 0.00 0.00 0.00 0.00 M-4 29,255,000.00 29,255,000.00 0.00 0.00 0.00 0.00 M-5 36,953,000.00 36,953,000.00 0.00 0.00 0.00 0.00 M-6 20,016,000.00 20,016,000.00 0.00 0.00 0.00 0.00 M-7 15,397,000.00 15,397,000.00 0.00 0.00 0.00 0.00 M-8 19,246,000.00 19,246,000.00 0.00 0.00 0.00 0.00 M-9 18,477,000.00 18,477,000.00 0.00 0.00 0.00 0.00 B-1 25,405,000.00 25,405,000.00 0.00 0.00 0.00 0.00 B-2 21,556,000.00 21,556,000.00 0.00 0.00 0.00 0.00 CE 10,778,849.00 10,778,018.64 0.00 0.00 0.00 0.00 CE-1 0.00 0.00 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 1,539,716,949.00 1,513,411,020.13 0.00 23,894,456.31 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 A-1A 15,805,752.63 697,305,261.03 0.95614132 15,805,752.63 A-1B 3,951,443.58 174,326,554.29 0.95614132 3,951,443.58 A-2A 4,137,260.10 175,551,629.86 0.94499960 4,137,260.10 A-2B 0.00 60,016,000.00 1.00000000 0.00 A-2C 0.00 47,430,000.00 1.00000000 0.00 M-1 0.00 58,509,000.00 1.00000000 0.00 M-2 0.00 49,271,000.00 1.00000000 0.00 M-3 0.00 30,024,000.00 1.00000000 0.00 M-4 0.00 29,255,000.00 1.00000000 0.00 M-5 0.00 36,953,000.00 1.00000000 0.00 M-6 0.00 20,016,000.00 1.00000000 0.00 M-7 0.00 15,397,000.00 1.00000000 0.00 M-8 0.00 19,246,000.00 1.00000000 0.00 M-9 0.00 18,477,000.00 1.00000000 0.00 B-1 0.00 25,405,000.00 1.00000000 0.00 B-2 0.00 21,556,000.00 1.00000000 0.00 CE 0.00 10,778,018.64 0.99992296 0.00 CE-1 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 23,894,456.31 1,489,516,563.82 0.96739635 23,894,456.31
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1A 729,291,000.00 977.81408746 0.00000000 21.67276523 0.00000000 A-1B 182,323,000.00 977.81408747 0.00000000 21.67276526 0.00000000 A-2A 185,769,000.00 967.27058853 0.00000000 22.27099301 0.00000000 A-2B 60,016,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-2C 47,430,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 58,509,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 49,271,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 30,024,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 29,255,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 36,953,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 20,016,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 15,397,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 19,246,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 18,477,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 25,405,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 21,556,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 10,778,849.00 999.92296395 0.00000000 0.00000000 0.00000000 CE-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination.
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1A 0.00000000 21.67276523 956.14132223 0.95614132 21.67276523 A-1B 0.00000000 21.67276526 956.14132221 0.95614132 21.67276526 A-2A 0.00000000 22.27099301 944.99959552 0.94499960 22.27099301 A-2B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-2C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 999.92296395 0.99992296 0.00000000 CE-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1A 729,291,000.00 3.09000% 713,111,013.66 1,897,469.56 0.00 0.00 A-1B 182,323,000.00 3.14000% 178,277,997.87 482,043.90 0.00 0.00 A-2A 185,769,000.00 2.97000% 179,688,889.96 459,554.34 0.00 0.00 A-2B 60,016,000.00 3.08000% 60,016,000.00 159,175.77 0.00 0.00 A-2C 47,430,000.00 3.20000% 47,430,000.00 130,696.00 0.00 0.00 M-1 58,509,000.00 3.33000% 58,509,000.00 167,774.56 0.00 0.00 M-2 49,271,000.00 3.35000% 49,271,000.00 142,133.15 0.00 0.00 M-3 30,024,000.00 3.40000% 30,024,000.00 87,903.60 0.00 0.00 M-4 29,255,000.00 3.57000% 29,255,000.00 89,934.75 0.00 0.00 M-5 36,953,000.00 3.63000% 36,953,000.00 115,508.92 0.00 0.00 M-6 20,016,000.00 3.70000% 20,016,000.00 63,773.20 0.00 0.00 M-7 15,397,000.00 4.13000% 15,397,000.00 54,757.72 0.00 0.00 M-8 19,246,000.00 4.23000% 19,246,000.00 70,103.56 0.00 0.00 M-9 18,477,000.00 5.05000% 18,477,000.00 80,349.29 0.00 0.00 B-1 25,405,000.00 6.10000% 25,405,000.00 133,446.82 0.00 0.00 B-2 21,556,000.00 6.10000% 21,556,000.00 113,228.88 0.00 0.00 CE 10,778,849.00 0.00000% 1,513,411,020.13 0.00 0.00 0.00 CE-1 0.00 0.00000% 0.00 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 1,539,716,949.00 4,247,854.02 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 A-1A 0.00 0.00 1,897,469.56 0.00 697,305,261.03 A-1B 0.00 0.00 482,043.90 0.00 174,326,554.29 A-2A 0.00 0.00 459,554.34 0.00 175,551,629.86 A-2B 0.00 0.00 159,175.77 0.00 60,016,000.00 A-2C 0.00 0.00 130,696.00 0.00 47,430,000.00 M-1 0.00 0.00 167,774.56 0.00 58,509,000.00 M-2 0.00 0.00 142,133.15 0.00 49,271,000.00 M-3 0.00 0.00 87,903.60 0.00 30,024,000.00 M-4 0.00 0.00 89,934.75 0.00 29,255,000.00 M-5 0.00 0.00 115,508.92 0.00 36,953,000.00 M-6 0.00 0.00 63,773.20 0.00 20,016,000.00 M-7 0.00 0.00 54,757.72 0.00 15,397,000.00 M-8 0.00 0.00 70,103.56 0.00 19,246,000.00 M-9 0.00 0.00 80,349.29 0.00 18,477,000.00 B-1 0.00 0.00 133,446.82 0.00 25,405,000.00 B-2 0.00 0.00 113,228.88 0.00 21,556,000.00 CE 0.00 0.00 4,189,351.20 0.00 1,489,516,563.82 CE-1 0.00 0.00 19,518.69 0.00 0.00 P 0.00 0.00 547,601.75 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 9,004,325.66 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 A-1A 729,291,000.00 3.09000% 977.81408746 2.60180032 0.00000000 0.00000000 A-1B 182,323,000.00 3.14000% 977.81408747 2.64390066 0.00000000 0.00000000 A-2A 185,769,000.00 2.97000% 967.27058853 2.47379455 0.00000000 0.00000000 A-2B 60,016,000.00 3.08000% 1000.00000000 2.65222224 0.00000000 0.00000000 A-2C 47,430,000.00 3.20000% 1000.00000000 2.75555556 0.00000000 0.00000000 M-1 58,509,000.00 3.33000% 1000.00000000 2.86750004 0.00000000 0.00000000 M-2 49,271,000.00 3.35000% 1000.00000000 2.88472225 0.00000000 0.00000000 M-3 30,024,000.00 3.40000% 1000.00000000 2.92777778 0.00000000 0.00000000 M-4 29,255,000.00 3.57000% 1000.00000000 3.07416681 0.00000000 0.00000000 M-5 36,953,000.00 3.63000% 1000.00000000 3.12583336 0.00000000 0.00000000 M-6 20,016,000.00 3.70000% 1000.00000000 3.18611111 0.00000000 0.00000000 M-7 15,397,000.00 4.13000% 1000.00000000 3.55638891 0.00000000 0.00000000 M-8 19,246,000.00 4.23000% 1000.00000000 3.64250026 0.00000000 0.00000000 M-9 18,477,000.00 5.05000% 1000.00000000 4.34861125 0.00000000 0.00000000 B-1 25,405,000.00 6.10000% 1000.00000000 5.25277780 0.00000000 0.00000000 B-2 21,556,000.00 6.10000% 1000.00000000 5.25277788 0.00000000 0.00000000 CE 10,778,849.00 0.00000% 140405.62402628 0.00000000 0.00000000 0.00000000 CE-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denomination.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1A 0.00000000 0.00000000 2.60180032 0.00000000 956.14132223 A-1B 0.00000000 0.00000000 2.64390066 0.00000000 956.14132221 A-2A 0.00000000 0.00000000 2.47379455 0.00000000 944.99959552 A-2B 0.00000000 0.00000000 2.65222224 0.00000000 1000.00000000 A-2C 0.00000000 0.00000000 2.75555556 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 2.86750004 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.88472225 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.92777778 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.07416681 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.12583336 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.18611111 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 3.55638891 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 3.64250026 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 4.34861125 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 5.25277780 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 5.25277788 0.00000000 1000.00000000 CE 0.00000000 0.00000000 388.66405866 0.00000000 138188.83294682 CE-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 5476017.50000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 33,247,703.03 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 48,666.62 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 547,601.75 Total Deposits 33,843,971.40 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 628,725.69 Payment of Interest and Principal 32,898,781.97 Total Withdrawals (Pool Distribution Amount) 33,527,507.66 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 611,069.23 Credit Risk Manager Fee - The Murrayhill Company 17,656.46 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 628,725.69
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 19 13 0 32 2,735,213.09 2,876,204.92 0.00 5,611,418.01 30 Days 33 0 0 0 33 3,823,384.46 0.00 0.00 0.00 3,823,384.46 60 Days 3 0 0 0 3 429,971.52 0.00 0.00 0.00 429,971.52 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 36 19 13 0 68 4,253,355.98 2,735,213.09 2,876,204.92 0.00 9,864,773.99 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 0.215811% 0.147660% 0.000000% 0.363471% 0.183561% 0.193023% 0.000000% 0.376584% 30 Days 0.374830% 0.000000% 0.000000% 0.000000% 0.374830% 0.256589% 0.000000% 0.000000% 0.000000% 0.256589% 60 Days 0.034075% 0.000000% 0.000000% 0.000000% 0.034075% 0.028856% 0.000000% 0.000000% 0.000000% 0.028856% 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 0.408905% 0.215811% 0.147660% 0.000000% 0.772376% 0.285444% 0.183561% 0.193023% 0.000000% 0.662029%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 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 13 8 0 21 2,427,477.48 1,952,810.34 0.00 4,380,287.82 30 Days 20 0 0 0 20 2,843,653.04 0.00 0.00 0.00 2,843,653.04 60 Days 2 0 0 0 2 328,518.43 0.00 0.00 0.00 328,518.43 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 13 8 0 43 3,172,171.47 2,427,477.48 1,952,810.34 0.00 7,552,459.29 0-29 Days 0.254553% 0.156648% 0.000000% 0.411200% 0.258597% 0.208031% 0.000000% 0.466629% 30 Days 0.391619% 0.000000% 0.000000% 0.000000% 0.391619% 0.302932% 0.000000% 0.000000% 0.000000% 0.302932% 60 Days 0.039162% 0.000000% 0.000000% 0.000000% 0.039162% 0.034997% 0.000000% 0.000000% 0.000000% 0.034997% 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 0.430781% 0.254553% 0.156648% 0.000000% 0.841982% 0.337929% 0.258597% 0.208031% 0.000000% 0.804557% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 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 1 0 6 212,908.14 91,811.97 0.00 304,720.11 30 Days 12 0 0 0 12 573,331.42 0.00 0.00 0.00 573,331.42 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 12 5 1 0 18 573,331.42 212,908.14 91,811.97 0.00 878,051.53 0-29 Days 0.190913% 0.038183% 0.000000% 0.229095% 0.114009% 0.049164% 0.000000% 0.163173% 30 Days 0.458190% 0.000000% 0.000000% 0.000000% 0.458190% 0.307010% 0.000000% 0.000000% 0.000000% 0.307010% 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 0.458190% 0.190913% 0.038183% 0.000000% 0.687285% 0.307010% 0.114009% 0.049164% 0.000000% 0.470183% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 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 2 0 2 0.00 788,411.87 0.00 788,411.87 30 Days 1 0 0 0 1 406,400.00 0.00 0.00 0.00 406,400.00 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 1 0 2 0 3 406,400.00 0.00 788,411.87 0.00 1,194,811.87 0-29 Days 0.000000% 0.299401% 0.000000% 0.299401% 0.000000% 0.255369% 0.000000% 0.255369% 30 Days 0.149701% 0.000000% 0.000000% 0.000000% 0.149701% 0.131634% 0.000000% 0.000000% 0.000000% 0.131634% 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 0.149701% 0.000000% 0.299401% 0.000000% 0.449102% 0.131634% 0.000000% 0.255369% 0.000000% 0.387003% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 94,827.47 43,170.74 0.00 137,998.21 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 1 0 0 0 1 101,453.09 0.00 0.00 0.00 101,453.09 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 2 0 4 101,453.09 94,827.47 43,170.74 0.00 239,451.30 0-29 Days 0.243902% 0.487805% 0.000000% 0.731707% 0.169663% 0.077240% 0.000000% 0.246903% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.243902% 0.000000% 0.000000% 0.000000% 0.243902% 0.181517% 0.000000% 0.000000% 0.000000% 0.181517% 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 0.243902% 0.243902% 0.487805% 0.000000% 0.975610% 0.181517% 0.169663% 0.077240% 0.000000% 0.428420%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 48,666.62 Class M-1 276,378,949.00 17.94998419% 276,378,118.64 18.55488723% 3.928053% 0.000000% Class M-2 227,107,949.00 14.74998045% 227,107,118.64 15.24703546% 3.307852% 0.000000% Class M-3 197,083,949.00 12.80001166% 197,083,118.64 13.23134790% 2.015688% 0.000000% Class M-4 167,828,949.00 10.89998711% 167,828,118.64 11.26728784% 1.964060% 0.000000% Class B-1 32,334,949.00 2.10005800% 32,334,118.64 2.17077939% 1.705587% 0.000000% Class B-2 10,778,949.00 0.70006042% 10,778,118.64 0.72359844% 1.447181% 0.000000% Class CE 100.00 0.00000649% 100.00 0.00000671% 0.723592% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000007% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.203951% Weighted Average Net Coupon 6.719428% Weighted Average Pass-Through Rate 6.705428% Weighted Average Maturity (Stepdown Calculation) 350 Beginning Scheduled Collateral Loan Count 8,932 Number Of Loans Paid In Full 128 Ending Scheduled Collateral Loan Count 8,804 Beginning Scheduled Collateral Balance 1,513,411,020.13 Ending Scheduled Collateral Balance 1,489,516,563.82 Ending Actual Collateral Balance at 31-Mar-2005 1,490,082,530.92 Monthly P&I Constant 10,008,173.91 Special Servicing Fee 0.00 Prepayment Penalties 547,601.75 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 922,724.60 Unscheduled Principal 22,971,731.71 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 10,778,018.65 Overcollateralized Amount 10,778,018.65 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00
Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.105093 8.443593 6.515008 Weighted Average Net Rate 6.621165 7.958419 6.028485 Weighted Average Maturity 356 319 356 Beginning Loan Count 5,187 2,654 678 Loans Paid In Full 80 35 10 Ending Loan Count 5,107 2,619 668 Beginning Scheduled Balance 955,713,705.21 189,062,468.83 312,636,854.93 Ending scheduled Balance 938,358,318.52 186,660,659.31 308,633,065.20 Record Date 03/31/2005 03/31/2005 03/31/2005 Principal And Interest Constant 6,229,858.48 1,495,371.48 1,839,129.19 Scheduled Principal 571,162.93 165,066.04 141,769.54 Unscheduled Principal 16,784,223.76 2,236,743.48 3,862,020.19 Scheduled Interest 5,658,695.55 1,330,305.44 1,697,359.65 Servicing Fees 385,413.92 76,440.13 126,754.06 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 11,149.99 2,205.73 3,647.43 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 5,262,131.64 1,251,659.58 1,566,958.16 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 6.607165 7.944419 6.014485
Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed Fixed Mixed Fixed & Arm Weighted Average Coupon Rate 8.552207 7.203951 Weighted Average Net Rate 8.070880 6.719428 Weighted Average Maturity 316 350 Beginning Loan Count 413 8,932 Loans Paid In Full 3 128 Ending Loan Count 410 8,804 Beginning Scheduled Balance 55,997,991.16 1,513,411,020.13 Ending scheduled Balance 55,864,520.79 1,489,516,563.82 Record Date 03/31/2005 03/31/2005 Principal And Interest Constant 443,814.76 10,008,173.91 Scheduled Principal 44,726.09 922,724.60 Unscheduled Principal 88,744.28 22,971,731.71 Scheduled Interest 399,088.67 9,085,449.31 Servicing Fees 22,461.12 611,069.23 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 653.31 17,656.46 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 375,974.24 8,456,723.62 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 8.056880 6.705428