-----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, FxiMfUeKvY3GwbeJXlnPMrinZIyBfvpYDldGAORivkE1WX9oGgc69FTOFG8QR1Xx tYGKT4vrEhyjNLGFeEioJQ== 0001056404-05-002898.txt : 20050829 0001056404-05-002898.hdr.sgml : 20050829 20050829083621 ACCESSION NUMBER: 0001056404-05-002898 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050825 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050829 DATE AS OF CHANGE: 20050829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Banc of America Mortgage Securities Mortgage Pass-Through Certificates Series 2005-B CENTRAL INDEX KEY: 0001318811 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: 333-118843-14 FILM NUMBER: 051053288 BUSINESS ADDRESS: STREET 1: 201 NORTH TRYON ST CITY: CHARLOTTE STATE: NC ZIP: 28255 BUSINESS PHONE: 7043884503 MAIL ADDRESS: STREET 1: 201 NORTH TRYON STREET CITY: CHARLOTTE STATE: NC ZIP: 3884503 8-K 1 bam0500b_10508.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): August 25, 2005 BANC OF AMERICA MORTGAGE SECURITIES, INC. Mortgage Pass-Through Certificates, Series 2005-B Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-118843-14 Pooling and Servicing Agreement) (Commission 54-2168069 (State or other File Number) 54-2168070 jurisdiction IRS EIN 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 August 25, 2005 a distribution was made to holders of BANC OF AMERICA MORTGAGE SECURITIES, INC., Mortgage Pass-Through Certificates, Series 2005-B 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-B Trust, relating to the August 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. BANC OF AMERICA MORTGAGE SECURITIES, INC. Mortgage Pass-Through Certificates, Series 2005-B Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 8/25/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-B Trust, relating to the August 25, 2005 distribution. EX-99.1
Banc of America Mortgage Securities, Inc. Mortgage Pass-Through Certificates Record Date: 7/29/2005 Distribution Date: 8/25/2005 Banc of America Mortgage Securities, Inc. Mortgage Pass-Through Certificates Series 2005-B 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 1A1 05949AW63 SEN 4.07198% 42,220,892.87 143,268.87 1AR 05949AW71 SEN 4.05814% 0.00 0.00 1ALR 05949AW89 SEN 4.05814% 0.00 0.10 2A1 05949AW97 SEN 4.41219% 214,008,408.15 786,872.10 2A2 05949AX21 SEN 4.75819% 23,983,155.09 95,097.08 1IO 05949AX62 SEN 0.61100% 0.00 22,405.32 2IO 05949AX70 SEN 0.31113% 0.00 63,998.80 B1 05949AX39 SUB 4.38413% 5,082,313.61 18,567.95 B2 05949AX47 SUB 4.38413% 2,156,616.69 7,879.08 B3 05949AX54 SUB 4.38413% 1,385,541.43 5,062.00 B4 05949AX88 SUB 4.38413% 616,461.20 2,252.21 B5 05949AX96 SUB 4.38413% 461,847.14 1,687.33 B6 05949AY20 SUB 4.38413% 924,598.03 3,377.97 Totals 290,839,834.21 1,150,468.81
Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses 1A1 1,061,460.26 0.00 41,159,432.62 1,204,729.13 0.00 1AR 0.00 0.00 0.00 0.00 0.00 1ALR 0.00 0.00 0.00 0.10 0.00 2A1 3,003,090.98 0.00 211,005,317.17 3,789,963.08 0.00 2A2 336,545.64 0.00 23,646,609.45 431,642.72 0.00 1IO 0.00 0.00 0.00 22,405.32 0.00 2IO 0.00 0.00 0.00 63,998.80 0.00 B1 2,565.81 0.00 5,079,747.80 21,133.76 0.00 B2 1,088.77 0.00 2,155,527.92 8,967.85 0.00 B3 699.49 0.00 1,384,841.94 5,761.49 0.00 B4 311.22 0.00 616,149.98 2,563.43 0.00 B5 233.16 0.00 461,613.98 1,920.49 0.00 B6 466.78 0.00 924,131.25 3,844.75 0.00 Totals 4,406,462.11 0.00 286,433,372.11 5,556,930.92 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) 1A1 50,048,000.00 42,220,892.87 28,479.13 1,032,981.13 0.00 0.00 1AR 50.00 0.00 0.00 0.00 0.00 0.00 1ALR 50.00 0.00 0.00 0.00 0.00 0.00 2A1 223,082,000.00 214,008,408.15 100,721.80 2,902,369.18 0.00 0.00 2A2 25,000,000.00 23,983,155.09 11,287.53 325,258.11 0.00 0.00 1IO 0.00 0.00 0.00 0.00 0.00 0.00 2IO 0.00 0.00 0.00 0.00 0.00 0.00 B1 5,095,000.00 5,082,313.61 2,565.81 0.00 0.00 0.00 B2 2,162,000.00 2,156,616.69 1,088.77 0.00 0.00 0.00 B3 1,389,000.00 1,385,541.43 699.49 0.00 0.00 0.00 B4 618,000.00 616,461.20 311.22 0.00 0.00 0.00 B5 463,000.00 461,847.14 233.16 0.00 0.00 0.00 B6 926,906.00 924,598.03 466.78 0.00 0.00 0.00 Totals 308,784,006.00 290,839,834.21 145,853.69 4,260,608.42 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 1A1 1,061,460.26 41,159,432.62 0.82239915 1,061,460.26 1AR 0.00 0.00 0.00000000 0.00 1ALR 0.00 0.00 0.00000000 0.00 2A1 3,003,090.98 211,005,317.17 0.94586438 3,003,090.98 2A2 336,545.64 23,646,609.45 0.94586438 336,545.64 1IO 0.00 0.00 0.00000000 0.00 2IO 0.00 0.00 0.00000000 0.00 B1 2,565.81 5,079,747.80 0.99700644 2,565.81 B2 1,088.77 2,155,527.92 0.99700644 1,088.77 B3 699.49 1,384,841.94 0.99700644 699.49 B4 311.22 616,149.98 0.99700644 311.22 B5 233.16 461,613.98 0.99700644 233.16 B6 466.78 924,131.25 0.99700644 466.78 Totals 4,406,462.11 286,433,372.11 0.92761726 4,406,462.11
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1A1 50,048,000.00 843.60799373 0.56903633 20.63980838 0.00000000 1AR 50.00 0.00000000 0.00000000 0.00000000 0.00000000 1ALR 50.00 0.00000000 0.00000000 0.00000000 0.00000000 2A1 223,082,000.00 959.32620359 0.45150124 13.01032437 0.00000000 2A2 25,000,000.00 959.32620360 0.45150120 13.01032440 0.00000000 1IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 2IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B1 5,095,000.00 997.51003140 0.50359372 0.00000000 0.00000000 B2 2,162,000.00 997.51003238 0.50359389 0.00000000 0.00000000 B3 1,389,000.00 997.51002880 0.50359251 0.00000000 0.00000000 B4 618,000.00 997.51003236 0.50359223 0.00000000 0.00000000 B5 463,000.00 997.51002160 0.50358531 0.00000000 0.00000000 B6 926,906.00 997.51002799 0.50358936 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 1A1 0.00000000 21.20884471 822.39914922 0.82239915 21.20884471 1AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1ALR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2A1 0.00000000 13.46182561 945.86437799 0.94586438 13.46182561 2A2 0.00000000 13.46182560 945.86437800 0.94586438 13.46182560 1IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B1 0.00000000 0.50359372 997.00643768 0.99700644 0.50359372 B2 0.00000000 0.50359389 997.00643848 0.99700644 0.50359389 B3 0.00000000 0.50359251 997.00643629 0.99700644 0.50359251 B4 0.00000000 0.50359223 997.00644013 0.99700644 0.50359223 B5 0.00000000 0.50358531 997.00643629 0.99700644 0.50358531 B6 0.00000000 0.50358936 997.00643862 0.99700644 0.50358936 (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 1A1 50,048,000.00 4.07198% 42,220,892.87 143,268.87 0.00 0.00 1AR 50.00 4.05814% 0.00 0.00 0.00 0.00 1ALR 50.00 4.05814% 0.00 0.00 0.00 0.00 2A1 223,082,000.00 4.41219% 214,008,408.15 786,872.10 0.00 0.00 2A2 25,000,000.00 4.75819% 23,983,155.09 95,097.08 0.00 0.00 1IO 0.00 0.61100% 44,003,897.25 22,405.32 0.00 0.00 2IO 0.00 0.31113% 246,835,937.49 63,998.80 0.00 0.00 B1 5,095,000.00 4.38413% 5,082,313.61 18,567.95 0.00 0.00 B2 2,162,000.00 4.38413% 2,156,616.69 7,879.08 0.00 0.00 B3 1,389,000.00 4.38413% 1,385,541.43 5,062.00 0.00 0.00 B4 618,000.00 4.38413% 616,461.20 2,252.21 0.00 0.00 B5 463,000.00 4.38413% 461,847.14 1,687.33 0.00 0.00 B6 926,906.00 4.38413% 924,598.03 3,377.97 0.00 0.00 Totals 308,784,006.00 1,150,468.71 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 1A1 0.00 0.00 143,268.87 0.00 41,159,432.62 1AR 0.00 0.00 0.00 0.00 0.00 1ALR 0.00 0.00 0.10 0.00 0.00 2A1 0.00 0.00 786,872.10 0.00 211,005,317.17 2A2 0.00 0.00 95,097.08 0.00 23,646,609.45 1IO 0.00 0.00 22,405.32 0.00 42,941,234.31 2IO 0.00 0.00 63,998.80 0.00 243,492,138.32 B1 0.00 0.00 18,567.95 0.00 5,079,747.80 B2 0.00 0.00 7,879.08 0.00 2,155,527.92 B3 0.00 0.00 5,062.00 0.00 1,384,841.94 B4 0.00 0.00 2,252.21 0.00 616,149.98 B5 0.00 0.00 1,687.33 0.00 461,613.98 B6 0.00 0.00 3,377.97 0.00 924,131.25 Totals 0.00 0.00 1,150,468.81 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 1A1 50,048,000.00 4.07198% 843.60799373 2.86262928 0.00000000 0.00000000 1AR 50.00 4.05814% 0.00000000 0.00000000 0.00000000 0.00000000 1ALR 50.00 4.05814% 0.00000000 0.00000000 0.00000000 0.00000000 2A1 223,082,000.00 4.41219% 959.32620359 3.52727741 0.00000000 0.00000000 2A2 25,000,000.00 4.75819% 959.32620360 3.80388320 0.00000000 0.00000000 1IO 0.00 0.61100% 848.89376170 0.43222845 0.00000000 0.00000000 2IO 0.00 0.31113% 960.64828576 0.24907369 0.00000000 0.00000000 B1 5,095,000.00 4.38413% 997.51003140 3.64434740 0.00000000 0.00000000 B2 2,162,000.00 4.38413% 997.51003238 3.64434783 0.00000000 0.00000000 B3 1,389,000.00 4.38413% 997.51002880 3.64434845 0.00000000 0.00000000 B4 618,000.00 4.38413% 997.51003236 3.64435275 0.00000000 0.00000000 B5 463,000.00 4.38413% 997.51002160 3.64434125 0.00000000 0.00000000 B6 926,906.00 4.38413% 997.51002799 3.64435013 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 1A1 0.00000000 0.00000000 2.86262928 0.00000000 822.39914922 1AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1ALR 0.00000000 0.00000000 2.00000000 0.00000000 0.00000000 2A1 0.00000000 0.00000000 3.52727741 0.00000000 945.86437799 2A2 0.00000000 0.00000000 3.80388320 0.00000000 945.86437800 1IO 0.00000000 0.00000000 0.43222845 0.00000000 828.39357883 2IO 0.00000000 0.00000000 0.24907369 0.00000000 947.63472309 B1 0.00000000 0.00000000 3.64434740 0.00000000 997.00643768 B2 0.00000000 0.00000000 3.64434783 0.00000000 997.00643848 B3 0.00000000 0.00000000 3.64434845 0.00000000 997.00643629 B4 0.00000000 0.00000000 3.64435275 0.00000000 997.00644013 B5 0.00000000 0.00000000 3.64434125 0.00000000 997.00643629 B6 0.00000000 0.00000000 3.64435013 0.00000000 997.00643862 (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 5,635,909.76 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 5,635,909.76 Withdrawals Reimbursement for Servicer Advances 11,985.73 Payment of Service Fee 66,993.11 Payment of Interest and Principal 5,556,930.92 Total Withdrawals (Pool Distribution Amount) 5,635,909.76 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 65,175.37 Trustee Fee - Wells Fargo Bank, N.A. 1,817.74 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 66,993.11
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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 4 0 0 0 4 2,062,498.79 0.00 0.00 0.00 2,062,498.79 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 1 0 0 0 1 474,827.04 0.00 0.00 0.00 474,827.04 150 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 0 0 0 5 2,537,325.83 0.00 0.00 0.00 2,537,325.83 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.722022% 0.000000% 0.000000% 0.000000% 0.722022% 0.719761% 0.000000% 0.000000% 0.000000% 0.719761% 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 0.180505% 0.000000% 0.000000% 0.000000% 0.180505% 0.165703% 0.000000% 0.000000% 0.000000% 0.165703% 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 0.902527% 0.000000% 0.000000% 0.000000% 0.902527% 0.885464% 0.000000% 0.000000% 0.000000% 0.885464%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 1 0 0 0 1 474,827.04 0.00 0.00 0.00 474,827.04 150 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 0 0 1 474,827.04 0.00 0.00 0.00 474,827.04 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 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 1.162791% 0.000000% 0.000000% 0.000000% 1.162791% 1.105032% 0.000000% 0.000000% 0.000000% 1.105032% 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 1.162791% 0.000000% 0.000000% 0.000000% 1.162791% 1.105032% 0.000000% 0.000000% 0.000000% 1.105032% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 4 0 0 0 4 2,062,498.79 0.00 0.00 0.00 2,062,498.79 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 4 0 0 0 4 2,062,498.79 0.00 0.00 0.00 2,062,498.79 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.854701% 0.000000% 0.000000% 0.000000% 0.854701% 0.846731% 0.000000% 0.000000% 0.000000% 0.846731% 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 0.854701% 0.000000% 0.000000% 0.000000% 0.854701% 0.846731% 0.000000% 0.000000% 0.000000% 0.846731%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 13,294.35
REO Detail - All Mortgage Loans in REO during Current Period
Summary 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 1 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.
REO Loan Detail - All Mortgage Loans in REO during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance No REO loans this period.
REO Loan Detail - All Mortgage Loans in REO during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No REO loans this period.
Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period
Summary 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current Foreclosure Total Jan-05 0.000% Loans in Foreclosure 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 1 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current Foreclosure Total Jan-05 0.000% Loans in Foreclosure 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 2 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current Foreclosure Total Jan-05 0.000% Loans in Foreclosure 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance No Foreclosure loans this period.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No Foreclosure loans this period.
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.023225% Weighted Average Net Coupon 4.754313% Weighted Average Pass-Through Rate 4.746813% Weighted Average Maturity(Stepdown Calculation) 352 Beginning Scheduled Collateral Loan Count 562 Number Of Loans Paid In Full 8 Ending Scheduled Collateral Loan Count 554 Beginning Scheduled Collateral Balance 290,839,834.74 Ending Scheduled Collateral Balance 286,433,372.63 Ending Actual Collateral Balance at 29-Jul-2005 286,553,280.78 Monthly P&I Constant 1,363,315.40 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 145,853.69 Unscheduled Principal 4,260,608.42
Miscellaneous Reporting Total Senior Percentage 96.345969% Aggregate Senior Percentage 3.654031%
Group Level Collateral Statement Group 1 2 Total Collateral Description 3 Year LIBOR Arm 5 Year LIBOR Arm Mixed ARM Weighted Average Coupon Rate 5.065480 5.015693 5.023225 Weighted Average Net Rate 4.690480 4.765693 4.754313 Weighted Average Maturity 352 352 352 Beginning Loan Count 89 473 562 Loans Paid In Full 3 5 8 Ending Loan Count 86 468 554 Beginning Scheduled Balance 44,003,897.25 246,835,937.49 290,839,834.74 Ending Scheduled Balance 42,941,234.31 243,492,138.32 286,433,372.63 Record Date 07/29/2005 07/29/2005 07/29/2005 Principal And Interest Constant 215,432.53 1,147,882.87 1,363,315.40 Scheduled Principal 29,681.81 116,171.88 145,853.69 Unscheduled Principal 1,032,981.13 3,227,627.29 4,260,608.42 Scheduled Interest 185,750.72 1,031,710.99 1,217,461.71 Servicing Fees 13,751.22 51,424.15 65,175.37 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 275.02 1,542.72 1,817.74 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 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 171,724.48 978,744.12 1,150,468.60 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 4.682980 4.758193 4.746813
Miscellaneous Reporting Group 1 CPR 24.817444% Subordinate Percentage 4.051923% Subordinate Prepayment Percentage 0.000000% Senior Prepayment Percentage 100.000000% Senior Percentage 95.948077% Group 2 CPR 14.616884% Subordinate Percentage 3.583098% Subordinate Prepayment Percentage 0.000000% Senior Prepayment Percentage 100.000000% Senior Percentage 96.416902%
Prepayment Detail - Prepayments during Current Period Summary Loans Paid In Full Repurchased Loans Original Current Original Current Principal Principal Principal Principal Group Count Balance Balance Count Balance Balance 1 3 1,245,490.00 1,032,306.69 0 0.00 0.00 2 5 3,217,508.00 3,209,457.27 0 0.00 0.00 Total 8 4,462,998.00 4,241,763.96 0 0.00 0.00
Prepayment Detail - Prepayments during Current Period (continued) Summary Substitution Loans Liquidated Loans Curtailments Original Current Original Current Principal Principal Principal Principal Curtailment Group Count Balance Balance Count Balance Balance Amount 1 0 0.00 0.00 0 0.00 0.00 1,213.14 2 0 0.00 0.00 0 0.00 0.00 20,768.02 Total 0 0.00 0.00 0 0.00 0.00 21,981.16
Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount 1 6014177973 CA 94.99 01-Feb-2005 360,990.00 360,990.00 1 6107372200 CO 69.77 01-Mar-2005 427,000.00 217,000.00 1 6698998397 CA 75.00 01-Feb-2005 457,500.00 453,777.99 2 6179256935 IL 80.00 01-Feb-2005 580,000.00 574,857.05 2 6230975457 AZ 75.00 01-Mar-2005 832,500.00 832,500.00 2 6536506485 MD 80.00 01-Feb-2005 641,008.00 641,008.00 2 6673047020 CA 70.00 01-Mar-2005 532,000.00 530,891.66 2 6968038619 CA 30.09 01-Mar-2005 632,000.00 627,602.56
Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning 1 6014177973 Loan Paid in Full 0 6.375% 360 6 1 6107372200 Loan Paid in Full 0 5.250% 360 5 1 6698998397 Loan Paid in Full 0 5.250% 360 6 2 6179256935 Loan Paid in Full 0 5.000% 360 6 2 6230975457 Loan Paid in Full 0 5.625% 360 5 2 6536506485 Loan Paid in Full 0 4.750% 360 6 2 6673047020 Loan Paid in Full (1) 5.000% 360 5 2 6968038619 Loan Paid in Full 0 5.250% 360 5
Prepayment - Voluntary Prepayments
Summary SMM CPR PSA Current Month 1.466% Current Month 16.237% Current Month 1,471.277% 3 Month Average 1.351% 3 Month Average 15.048% 3 Month Average 1,693.011% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 1.867% N/A Mar-2005 1,844.475% N/A Apr-2005 13.461% N/A Apr-2005 4,453.860% N/A May-2005 19.151% N/A May-2005 3,808.636% N/A Jun-2005 12.860% N/A Jun-2005 1,831.834% N/A Jul-2005 16.046% N/A Jul-2005 1,775.922% N/A Aug-2005 16.237% N/A Aug-2005 1,471.277% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 1 SMM CPR PSA Current Month 2.349% Current Month 24.817% Current Month 2,208.205% 3 Month Average 3.038% 3 Month Average 30.600% 3 Month Average 3,424.025% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 10.037% N/A Mar-2005 8,529.306% N/A Apr-2005 21.222% N/A Apr-2005 6,630.883% N/A May-2005 53.093% N/A May-2005 10,152.243% N/A Jun-2005 26.567% N/A Jun-2005 3,692.966% N/A Jul-2005 40.416% N/A Jul-2005 4,370.902% N/A Aug-2005 24.817% N/A Aug-2005 2,208.205% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 2 SMM CPR PSA Current Month 1.308% Current Month 14.617% Current Month 1,328.756% 3 Month Average 1.040% 3 Month Average 11.773% 3 Month Average 1,316.849% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.138% N/A Mar-2005 141.298% N/A Apr-2005 11.828% N/A Apr-2005 3,959.721% N/A May-2005 10.206% N/A May-2005 2,044.980% N/A Jun-2005 10.042% N/A Jun-2005 1,436.945% N/A Jul-2005 10.661% N/A Jul-2005 1,184.847% N/A Aug-2005 14.617% N/A Aug-2005 1,328.756% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled Principal) Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12) PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS)) Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal Balance))
Realized Loss Detail Report - Loans with Losses during Current Period Summary # Loans Prior Realized Current with Principal Loss/(Gain) Loss Group Losses Balance Amount Percentage 1 0 0.00 0.00 0.000% 2 0 0.00 0.00 0.000% Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period Original Current Loan Principal Note LTV at Original Group Number Balance Rate State Origination Term No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued) Prior Cumulative Loan Principal Realized Realized Group Number Balance Loss/(Gain) Loss/(Gain) No losses this period.
Realized Loss Report - Collateral Summary
MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 1 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 2 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Monthly Default Rate (MDR): sum(Beg Principal Balance of Liquidated Loans)/ sum(Beg Principal Balance). Conditional Default Rate (CDR): 1-((1-MDR)^12) SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR/(WAS*0.02) else if WAS is greater than 30 and less than or equal to 60 then CDR/0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR/(0.6 - ((WAS-60)*0.0095)) else if WAS is greater than 120 then CDR/0.03 Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
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