-----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, BRscDjWfHO0aX7iJ88gQBc2m2fp/KSps5pCMaVk+42FdUcvH1oEA9ybWqte5pA7j GadnIVC56HF9XeeazU0NCA== 0001056404-05-002389.txt : 20050630 0001056404-05-002389.hdr.sgml : 20050630 20050630165234 ACCESSION NUMBER: 0001056404-05-002389 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: SABR TRUST 2005-OP1 CENTRAL INDEX KEY: 0001320715 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-108395-12 FILM NUMBER: 05929111 BUSINESS ADDRESS: STREET 1: 200 PARK AVE. CITY: NEW YORK STATE: NY ZIP: 10166 8-K 1 sab05op1_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 SECURITIZED ASSET BACKED RECEIVABLES LLC TRUST Mortgage Pass-Through Certificates, Series 2005-OP1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-108395-12 54-2169497 Pooling and Servicing Agreement) (Commission 54-2169498 (State or other File Number) 54-6658778 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 June 27, 2005 a distribution was made to holders of SECURITIZED ASSET BACKED RECEIVABLES LLC TRUST, Mortgage Pass-Through Certificates, Series 2005-OP1 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-OP1 Trust, relating to the June 27, 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. SECURITIZED ASSET BACKED RECEIVABLES LLC TRUST Mortgage Pass-Through Certificates, Series 2005-OP1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/30/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-OP1 Trust, relating to the June 27, 2005 distribution. EX-99.1
Securitized Asset Backed Receivables Mortgage Pass-Through Certificates Record Date: 5/31/2005 Distribution Date: 6/27/2005 Securitized Asset Backed Receivables Mortgage Pass-Through Certificates Series SABR 2005-OP1 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 A-1A 81375WCM6 SEN 3.52000% 578,418,713.25 1,866,364.38 A-1B 81375WCN4 SEN 3.49500% 144,604,904.27 463,277.96 A-2A 81375WCP9 SEN 3.18000% 104,675,373.82 305,128.71 A-2B 81375WCQ7 SEN 3.27000% 64,404,000.00 193,050.99 A-2C 81375WCR5 SEN 3.43000% 50,357,000.00 158,330.80 M-1 81375WCS3 MEZ 3.50000% 42,214,000.00 135,436.58 M-2 81375WCT1 MEZ 3.54000% 67,938,000.00 220,458.81 M-3 81375WCU8 MEZ 3.77000% 66,619,000.00 230,224.16 M-4 81375WCV6 MEZ 3.82000% 18,469,000.00 64,672.28 B-1 81375WCW4 JUN 4.31000% 13,852,000.00 54,726.94 B-2 81375WCX2 JUN 4.39000% 11,213,000.00 45,122.98 B-3 81375WCY0 JUN 5.02000% 9,894,000.00 45,528.89 B-4 81375WCZ7 JUN 6.59000% 13,192,000.00 79,690.67 X SAB05OP1X SEN 0.00000% 33,639,442.65 3,410,945.41 P SAB05OP1P SEN 0.00000% 0.01 900,873.31 R SAB05P1R1 RES 0.00000% 0.00 0.00 Totals 1,219,490,434.00 8,173,832.87
Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1A 28,019,157.62 0.00 550,399,555.63 29,885,522.00 0.00 A-1B 7,004,800.35 0.00 137,600,103.92 7,468,078.31 0.00 A-2A 12,383,290.25 0.00 92,292,083.57 12,688,418.96 0.00 A-2B 0.00 0.00 64,404,000.00 193,050.99 0.00 A-2C 0.00 0.00 50,357,000.00 158,330.80 0.00 M-1 0.00 0.00 42,214,000.00 135,436.58 0.00 M-2 0.00 0.00 67,938,000.00 220,458.81 0.00 M-3 0.00 0.00 66,619,000.00 230,224.16 0.00 M-4 0.00 0.00 18,469,000.00 64,672.28 0.00 B-1 0.00 0.00 13,852,000.00 54,726.94 0.00 B-2 0.00 0.00 11,213,000.00 45,122.98 0.00 B-3 0.00 0.00 9,894,000.00 45,528.89 0.00 B-4 0.00 0.00 13,192,000.00 79,690.67 0.00 X 0.00 0.00 33,639,442.65 3,410,945.41 0.00 P 0.00 0.00 0.01 900,873.31 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 47,407,248.22 0.00 1,172,083,185.78 55,581,081.09 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 639,979,000.00 578,418,713.25 0.00 28,019,157.62 0.00 0.00 A-1B 159,995,000.00 144,604,904.27 0.00 7,004,800.35 0.00 0.00 A-2A 127,428,000.00 104,675,373.82 0.00 12,383,290.25 0.00 0.00 A-2B 64,404,000.00 64,404,000.00 0.00 0.00 0.00 0.00 A-2C 50,357,000.00 50,357,000.00 0.00 0.00 0.00 0.00 M-1 42,214,000.00 42,214,000.00 0.00 0.00 0.00 0.00 M-2 67,938,000.00 67,938,000.00 0.00 0.00 0.00 0.00 M-3 66,619,000.00 66,619,000.00 0.00 0.00 0.00 0.00 M-4 18,469,000.00 18,469,000.00 0.00 0.00 0.00 0.00 B-1 13,852,000.00 13,852,000.00 0.00 0.00 0.00 0.00 B-2 11,213,000.00 11,213,000.00 0.00 0.00 0.00 0.00 B-3 9,894,000.00 9,894,000.00 0.00 0.00 0.00 0.00 B-4 13,192,000.00 13,192,000.00 0.00 0.00 0.00 0.00 X 33,639,830.00 33,639,442.65 0.00 0.00 0.00 0.00 P 0.01 0.01 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,319,193,830.01 1,219,490,434.00 0.00 47,407,248.22 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 28,019,157.62 550,399,555.63 0.86002753 28,019,157.62 A-1B 7,004,800.35 137,600,103.92 0.86002753 7,004,800.35 A-2A 12,383,290.25 92,292,083.57 0.72426848 12,383,290.25 A-2B 0.00 64,404,000.00 1.00000000 0.00 A-2C 0.00 50,357,000.00 1.00000000 0.00 M-1 0.00 42,214,000.00 1.00000000 0.00 M-2 0.00 67,938,000.00 1.00000000 0.00 M-3 0.00 66,619,000.00 1.00000000 0.00 M-4 0.00 18,469,000.00 1.00000000 0.00 B-1 0.00 13,852,000.00 1.00000000 0.00 B-2 0.00 11,213,000.00 1.00000000 0.00 B-3 0.00 9,894,000.00 1.00000000 0.00 B-4 0.00 13,192,000.00 1.00000000 0.00 X 0.00 33,639,442.65 0.99998849 0.00 P 0.00 0.01 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 47,407,248.22 1,172,083,185.78 0.88848444 47,407,248.22
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1A 639,979,000.00 903.80889568 0.00000000 43.78137036 0.00000000 A-1B 159,995,000.00 903.80889572 0.00000000 43.78137036 0.00000000 A-2A 127,428,000.00 821.44720014 0.00000000 97.17872249 0.00000000 A-2B 64,404,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-2C 50,357,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 42,214,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 67,938,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 66,619,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 18,469,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 13,852,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 11,213,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 9,894,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 13,192,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 33,639,830.00 999.98848538 0.00000000 0.00000000 0.00000000 P 0.01 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 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 43.78137036 860.02752533 0.86002753 43.78137036 A-1B 0.00000000 43.78137036 860.02752536 0.86002753 43.78137036 A-2A 0.00000000 97.17872249 724.26847765 0.72426848 97.17872249 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 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 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 999.98848538 0.99998849 0.00000000 P 0.00000000 0.00000000 0.00000000 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 639,979,000.00 3.52000% 578,418,713.25 1,866,364.38 0.00 0.00 A-1B 159,995,000.00 3.49500% 144,604,904.27 463,277.96 0.00 0.00 A-2A 127,428,000.00 3.18000% 104,675,373.82 305,128.71 0.00 0.00 A-2B 64,404,000.00 3.27000% 64,404,000.00 193,050.99 0.00 0.00 A-2C 50,357,000.00 3.43000% 50,357,000.00 158,330.80 0.00 0.00 M-1 42,214,000.00 3.50000% 42,214,000.00 135,436.58 0.00 0.00 M-2 67,938,000.00 3.54000% 67,938,000.00 220,458.81 0.00 0.00 M-3 66,619,000.00 3.77000% 66,619,000.00 230,224.16 0.00 0.00 M-4 18,469,000.00 3.82000% 18,469,000.00 64,672.28 0.00 0.00 B-1 13,852,000.00 4.31000% 13,852,000.00 54,726.94 0.00 0.00 B-2 11,213,000.00 4.39000% 11,213,000.00 45,122.98 0.00 0.00 B-3 9,894,000.00 5.02000% 9,894,000.00 45,528.89 0.00 0.00 B-4 13,192,000.00 6.59000% 13,192,000.00 79,690.67 0.00 0.00 X 33,639,830.00 0.00000% 33,639,442.65 0.00 0.00 0.00 P 0.01 0.00000% 0.01 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,319,193,830.01 3,862,014.15 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 1,866,364.38 0.00 550,399,555.63 A-1B 0.00 0.00 463,277.96 0.00 137,600,103.92 A-2A 0.00 0.00 305,128.71 0.00 92,292,083.57 A-2B 0.00 0.00 193,050.99 0.00 64,404,000.00 A-2C 0.00 0.00 158,330.80 0.00 50,357,000.00 M-1 0.00 0.00 135,436.58 0.00 42,214,000.00 M-2 0.00 0.00 220,458.81 0.00 67,938,000.00 M-3 0.00 0.00 230,224.16 0.00 66,619,000.00 M-4 0.00 0.00 64,672.28 0.00 18,469,000.00 B-1 0.00 0.00 54,726.94 0.00 13,852,000.00 B-2 0.00 0.00 45,122.98 0.00 11,213,000.00 B-3 0.00 0.00 45,528.89 0.00 9,894,000.00 B-4 0.00 0.00 79,690.67 0.00 13,192,000.00 X 0.00 0.00 3,410,945.41 0.00 33,639,442.65 P 0.00 0.00 900,873.31 0.00 0.01 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 8,173,832.87 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 639,979,000.00 3.52000% 903.80889568 2.91629003 0.00000000 0.00000000 A-1B 159,995,000.00 3.49500% 903.80889572 2.89557774 0.00000000 0.00000000 A-2A 127,428,000.00 3.18000% 821.44720014 2.39451855 0.00000000 0.00000000 A-2B 64,404,000.00 3.27000% 1000.00000000 2.99750000 0.00000000 0.00000000 A-2C 50,357,000.00 3.43000% 1000.00000000 3.14416665 0.00000000 0.00000000 M-1 42,214,000.00 3.50000% 1000.00000000 3.20833325 0.00000000 0.00000000 M-2 67,938,000.00 3.54000% 1000.00000000 3.24500000 0.00000000 0.00000000 M-3 66,619,000.00 3.77000% 1000.00000000 3.45583332 0.00000000 0.00000000 M-4 18,469,000.00 3.82000% 1000.00000000 3.50166658 0.00000000 0.00000000 B-1 13,852,000.00 4.31000% 1000.00000000 3.95083309 0.00000000 0.00000000 B-2 11,213,000.00 4.39000% 1000.00000000 4.02416659 0.00000000 0.00000000 B-3 9,894,000.00 5.02000% 1000.00000000 4.60166667 0.00000000 0.00000000 B-4 13,192,000.00 6.59000% 1000.00000000 6.04083308 0.00000000 0.00000000 X 33,639,830.00 0.00000% 999.98848538 0.00000000 0.00000000 0.00000000 P 0.01 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 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 2.91629003 0.00000000 860.02752533 A-1B 0.00000000 0.00000000 2.89557774 0.00000000 860.02752536 A-2A 0.00000000 0.00000000 2.39451855 0.00000000 724.26847765 A-2B 0.00000000 0.00000000 2.99750000 0.00000000 1000.00000000 A-2C 0.00000000 0.00000000 3.14416665 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 3.20833325 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.24500000 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.45583332 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.50166658 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 3.95083309 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 4.02416659 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 4.60166667 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 6.04083308 0.00000000 1000.00000000 X 0.00000000 0.00000000 101.39603589 0.00000000 999.98848538 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 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 54,987,112.87 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 900,873.31 Total Deposits 55,887,986.18 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 306,905.09 Payment of Interest and Principal 55,581,081.09 Total Withdrawals (Pool Distribution Amount) 55,887,986.18 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 304,872.60 Wells Fargo Bank, N.A. 2,032.49 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 306,905.09
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 0.00 1,014.47 1,014.47 0.00 Reserve Fund 0.00 0.00 0.00 0.00
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 14 1 0 15 1,880,053.15 138,267.17 0.00 2,018,320.32 30 Days 92 3 0 0 95 15,269,678.33 442,031.63 0.00 0.00 15,711,709.96 60 Days 28 2 5 0 35 4,449,414.56 214,756.81 550,627.77 0.00 5,214,799.14 90 Days 20 3 26 1 50 3,778,635.58 243,440.96 2,872,918.40 57,166.36 6,952,161.30 120 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 140 22 32 1 195 23,497,728.47 2,780,282.55 3,561,813.34 57,166.36 29,896,990.72 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 0.193986% 0.013856% 0.000000% 0.207843% 0.160356% 0.011793% 0.000000% 0.172149% 30 Days 1.274768% 0.041569% 0.000000% 0.000000% 1.316336% 1.302401% 0.037702% 0.000000% 0.000000% 1.340104% 60 Days 0.387973% 0.027712% 0.069281% 0.000000% 0.484966% 0.379505% 0.018317% 0.046965% 0.000000% 0.444787% 90 Days 0.277123% 0.041569% 0.360260% 0.013856% 0.692809% 0.322292% 0.020764% 0.245041% 0.004876% 0.592973% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.939864% 0.304836% 0.443398% 0.013856% 2.701954% 2.004199% 0.237139% 0.303799% 0.004876% 2.550013%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 152,563.17
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.458720% Weighted Average Net Coupon 7.158720% Weighted Average Pass-Through Rate 7.156720% Weighted Average Maturity(Stepdown Calculation) 357 Beginning Scheduled Collateral Loan Count 7,457 Number Of Loans Paid In Full 240 Ending Scheduled Collateral Loan Count 7,217 Beginning Scheduled Collateral Balance 1,219,490,434.00 Ending Scheduled Collateral Balance 1,172,083,185.78 Ending Actual Collateral Balance at 31-May-2005 1,172,424,980.13 Monthly P&I Constant 8,501,527.07 Special Servicing Fee 0.00 Prepayment Penalties 900,873.31 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 921,662.80 Unscheduled Principal 46,485,585.42
Miscellaneous Reporting Credit Enhancement Percentage 23.635732% Delinquency Trigger Event NO Cumulative Loss Trigger Event NO Trigger Event NO Stepdown NO Total Monthly Excess Spread 3,410,945.41 Specified Subordinated Amount 33,639,442.66 Subordinated Deficiency Amount 0.00 Extra Principal Distribution Amount 0.00 Subordinated Increase Amount 0.00 Excess Subordinated Amount 0.00 Subordinated Reduction Amount 0.00 Subordinated Amount 33,639,442.66 Soldier/Sailor Adjustment 0.00 Miscellaneous Bond Adjustment 0.00
Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.074190 7.563840 8.083753 Weighted Average Net Rate 6.774190 7.263840 7.783753 Weighted Average Maturity 357 357 357 Beginning Loan Count 1,266 4,848 944 Loans Paid In Full 23 173 24 Ending Loan Count 1,243 4,675 920 Beginning Scheduled Balance 193,219,360.53 742,455,139.45 129,819,652.35 Ending Scheduled Balance 189,748,232.15 710,902,309.86 126,198,402.15 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal And Interest Constant 1,324,700.74 5,204,175.62 985,667.28 Scheduled Principal 185,641.96 524,332.56 111,142.27 Unscheduled Principal 3,285,486.42 31,028,497.03 3,510,107.93 Scheduled Interest 1,139,058.78 4,679,843.06 874,525.01 Servicing Fees 48,304.84 185,613.78 32,454.91 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 322.03 1,237.43 216.37 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 1,090,431.91 4,492,991.85 841,853.73 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 6.772190 7.261840 7.781753
Group Level Collateral Statement Group Group 4 Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.907471 7.458720 Weighted Average Net Rate 6.607471 7.158720 Weighted Average Maturity 357 357 Beginning Loan Count 399 7,457 Loans Paid In Full 20 240 Ending Loan Count 379 7,217 Beginning Scheduled Balance 153,996,281.67 1,219,490,434.00 Ending scheduled Balance 145,234,241.62 1,172,083,185.78 Record Date 05/31/2005 05/31/2005 Principal And Interest Constant 986,983.43 8,501,527.07 Scheduled Principal 100,546.01 921,662.80 Unscheduled Principal 8,661,494.04 46,485,585.42 Scheduled Interest 886,437.42 7,579,864.27 Servicing Fees 38,499.07 304,872.60 Master Servicing Fees 0.00 0.00 Trustee Fee 256.66 2,032.49 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread 1 0.00 0.00 Spread 2 0.00 0.00 Spread 3 0.00 0.00 Net Interest 847,681.69 7,272,959.18 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 6.605471 7.156720
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