8-K 1 ace05he2_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 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-HE2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-119047-07 Pooling and Servicing Agreement) (Commission 54-2169417 (State or other File Number) 54-2169418 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 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2005-HE2 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 2005-HE2 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. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-HE2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/28/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-HE2 Trust, relating to the June 27, 2005 distribution. EX-99.1
ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 5/31/2005 Distribution Date: 6/27/2005 ACE Securities Corporation Asset Backed Pass-Through Certificates Series ACE 2005-HE2 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-1 004421LY7 SEN 3.31000% 658,341,567.45 1,997,518.04 A-2A 004421LZ4 SEN 3.18000% 137,764,926.56 401,584.76 A-2B 004421MA8 SEN 3.29000% 69,647,000.00 210,043.74 A-2C 004421MB6 SEN 3.40000% 39,120,000.00 121,924.00 M-1 004421MC4 MEZ 3.53000% 70,729,000.00 228,867.26 M-2 004421MD2 MEZ 3.54000% 39,023,000.00 126,629.64 M-3 004421ME0 MEZ 3.57000% 23,780,000.00 77,820.05 M-4 004421MF7 MEZ 3.73000% 21,341,000.00 72,968.44 M-5 004421MG5 MEZ 3.77000% 20,731,000.00 71,642.88 M-6 004421MH3 MEZ 3.84000% 18,292,000.00 64,387.84 M-7 004421MJ9 MEZ 4.32000% 15,243,000.00 60,362.28 M-8 004421MK6 MEZ 4.46000% 15,243,000.00 62,318.47 M-9 004421ML4 MEZ 5.07000% 12,195,000.00 56,676.26 M-10 004421MM2 MEZ 6.34000% 12,195,000.00 70,873.27 B-1 004421MN0 SUB 6.34000% 16,463,000.00 95,677.47 B-2 004421MP5 SUB 6.34000% 7,317,000.00 42,523.97 CE ACE05H2CE SUB 0.00000% 7,316,781.97 2,747,425.32 P ACE05HE2P SEN 0.00000% 100.00 254,227.02 R ACE05H2R1 SUB 0.00000% 0.00 0.00 Totals 1,184,742,375.98 6,763,470.71
Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 11,291,467.10 0.00 647,050,100.35 13,288,985.14 0.00 A-2A 4,345,698.70 0.00 133,419,227.86 4,747,283.46 0.00 A-2B 0.00 0.00 69,647,000.00 210,043.74 0.00 A-2C 0.00 0.00 39,120,000.00 121,924.00 0.00 M-1 0.00 0.00 70,729,000.00 228,867.26 0.00 M-2 0.00 0.00 39,023,000.00 126,629.64 0.00 M-3 0.00 0.00 23,780,000.00 77,820.05 0.00 M-4 0.00 0.00 21,341,000.00 72,968.44 0.00 M-5 0.00 0.00 20,731,000.00 71,642.88 0.00 M-6 0.00 0.00 18,292,000.00 64,387.84 0.00 M-7 0.00 0.00 15,243,000.00 60,362.28 0.00 M-8 0.00 0.00 15,243,000.00 62,318.47 0.00 M-9 0.00 0.00 12,195,000.00 56,676.26 0.00 M-10 0.00 0.00 12,195,000.00 70,873.27 0.00 B-1 0.00 0.00 16,463,000.00 95,677.47 0.00 B-2 0.00 0.00 7,317,000.00 42,523.97 0.00 CE 0.00 0.00 7,316,781.97 2,747,425.32 0.00 P 0.00 0.00 100.00 254,227.02 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 15,637,165.80 0.00 1,169,105,210.18 22,400,636.51 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-1 680,337,000.00 658,341,567.45 0.00 11,291,467.10 0.00 0.00 A-2A 150,490,000.00 137,764,926.56 0.00 4,345,698.70 0.00 0.00 A-2B 69,647,000.00 69,647,000.00 0.00 0.00 0.00 0.00 A-2C 39,120,000.00 39,120,000.00 0.00 0.00 0.00 0.00 M-1 70,729,000.00 70,729,000.00 0.00 0.00 0.00 0.00 M-2 39,023,000.00 39,023,000.00 0.00 0.00 0.00 0.00 M-3 23,780,000.00 23,780,000.00 0.00 0.00 0.00 0.00 M-4 21,341,000.00 21,341,000.00 0.00 0.00 0.00 0.00 M-5 20,731,000.00 20,731,000.00 0.00 0.00 0.00 0.00 M-6 18,292,000.00 18,292,000.00 0.00 0.00 0.00 0.00 M-7 15,243,000.00 15,243,000.00 0.00 0.00 0.00 0.00 M-8 15,243,000.00 15,243,000.00 0.00 0.00 0.00 0.00 M-9 12,195,000.00 12,195,000.00 0.00 0.00 0.00 0.00 M-10 12,195,000.00 12,195,000.00 0.00 0.00 0.00 0.00 B-1 16,463,000.00 16,463,000.00 0.00 0.00 0.00 0.00 B-2 7,317,000.00 7,317,000.00 0.00 0.00 0.00 0.00 CE 7,317,562.49 7,316,781.97 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 1,219,463,662.49 1,184,742,375.98 0.00 15,637,165.80 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-1 11,291,467.10 647,050,100.35 0.95107292 11,291,467.10 A-2A 4,345,698.70 133,419,227.86 0.88656541 4,345,698.70 A-2B 0.00 69,647,000.00 1.00000000 0.00 A-2C 0.00 39,120,000.00 1.00000000 0.00 M-1 0.00 70,729,000.00 1.00000000 0.00 M-2 0.00 39,023,000.00 1.00000000 0.00 M-3 0.00 23,780,000.00 1.00000000 0.00 M-4 0.00 21,341,000.00 1.00000000 0.00 M-5 0.00 20,731,000.00 1.00000000 0.00 M-6 0.00 18,292,000.00 1.00000000 0.00 M-7 0.00 15,243,000.00 1.00000000 0.00 M-8 0.00 15,243,000.00 1.00000000 0.00 M-9 0.00 12,195,000.00 1.00000000 0.00 M-10 0.00 12,195,000.00 1.00000000 0.00 B-1 0.00 16,463,000.00 1.00000000 0.00 B-2 0.00 7,317,000.00 1.00000000 0.00 CE 0.00 7,316,781.97 0.99989334 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 15,637,165.80 1,169,105,210.18 0.95870443 15,637,165.80
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 680,337,000.00 967.66979813 0.00000000 16.59687346 0.00000000 A-2A 150,490,000.00 915.44239856 0.00000000 28.87699316 0.00000000 A-2B 69,647,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-2C 39,120,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 70,729,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 39,023,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 23,780,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 21,341,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 20,731,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 18,292,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 15,243,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 15,243,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 12,195,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-10 12,195,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 16,463,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 7,317,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 7,317,562.49 999.89333607 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-1 0.00000000 16.59687346 951.07292467 0.95107292 16.59687346 A-2A 0.00000000 28.87699316 886.56540541 0.88656541 28.87699316 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 M-10 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 999.89333607 0.99989334 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-1 680,337,000.00 3.31000% 658,341,567.45 1,997,518.04 0.00 0.00 A-2A 150,490,000.00 3.18000% 137,764,926.56 401,584.76 0.00 0.00 A-2B 69,647,000.00 3.29000% 69,647,000.00 210,043.74 0.00 0.00 A-2C 39,120,000.00 3.40000% 39,120,000.00 121,924.00 0.00 0.00 M-1 70,729,000.00 3.53000% 70,729,000.00 228,867.26 0.00 0.00 M-2 39,023,000.00 3.54000% 39,023,000.00 126,629.64 0.00 0.00 M-3 23,780,000.00 3.57000% 23,780,000.00 77,820.05 0.00 0.00 M-4 21,341,000.00 3.73000% 21,341,000.00 72,968.44 0.00 0.00 M-5 20,731,000.00 3.77000% 20,731,000.00 71,642.88 0.00 0.00 M-6 18,292,000.00 3.84000% 18,292,000.00 64,387.84 0.00 0.00 M-7 15,243,000.00 4.32000% 15,243,000.00 60,362.28 0.00 0.00 M-8 15,243,000.00 4.46000% 15,243,000.00 62,318.47 0.00 0.00 M-9 12,195,000.00 5.07000% 12,195,000.00 56,676.26 0.00 0.00 M-10 12,195,000.00 6.34000% 12,195,000.00 70,873.27 0.00 0.00 B-1 16,463,000.00 6.34000% 16,463,000.00 95,677.47 0.00 0.00 B-2 7,317,000.00 6.34000% 7,317,000.00 42,523.97 0.00 0.00 CE 7,317,562.49 0.00000% 1,184,742,375.98 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 1,219,463,662.49 3,761,818.37 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-1 0.00 0.00 1,997,518.04 0.00 647,050,100.35 A-2A 0.00 0.00 401,584.76 0.00 133,419,227.86 A-2B 0.00 0.00 210,043.74 0.00 69,647,000.00 A-2C 0.00 0.00 121,924.00 0.00 39,120,000.00 M-1 0.00 0.00 228,867.26 0.00 70,729,000.00 M-2 0.00 0.00 126,629.64 0.00 39,023,000.00 M-3 0.00 0.00 77,820.05 0.00 23,780,000.00 M-4 0.00 0.00 72,968.44 0.00 21,341,000.00 M-5 0.00 0.00 71,642.88 0.00 20,731,000.00 M-6 0.00 0.00 64,387.84 0.00 18,292,000.00 M-7 0.00 0.00 60,362.28 0.00 15,243,000.00 M-8 0.00 0.00 62,318.47 0.00 15,243,000.00 M-9 0.00 0.00 56,676.26 0.00 12,195,000.00 M-10 0.00 0.00 70,873.27 0.00 12,195,000.00 B-1 0.00 0.00 95,677.47 0.00 16,463,000.00 B-2 0.00 0.00 42,523.97 0.00 7,317,000.00 CE 0.00 0.00 2,747,425.32 0.00 1,169,105,210.18 P 0.00 0.00 254,227.02 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 6,763,470.71 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-1 680,337,000.00 3.31000% 967.66979813 2.93607145 0.00000000 0.00000000 A-2A 150,490,000.00 3.18000% 915.44239856 2.66851459 0.00000000 0.00000000 A-2B 69,647,000.00 3.29000% 1000.00000000 3.01583327 0.00000000 0.00000000 A-2C 39,120,000.00 3.40000% 1000.00000000 3.11666667 0.00000000 0.00000000 M-1 70,729,000.00 3.53000% 1000.00000000 3.23583339 0.00000000 0.00000000 M-2 39,023,000.00 3.54000% 1000.00000000 3.24500013 0.00000000 0.00000000 M-3 23,780,000.00 3.57000% 1000.00000000 3.27250000 0.00000000 0.00000000 M-4 21,341,000.00 3.73000% 1000.00000000 3.41916686 0.00000000 0.00000000 M-5 20,731,000.00 3.77000% 1000.00000000 3.45583329 0.00000000 0.00000000 M-6 18,292,000.00 3.84000% 1000.00000000 3.52000000 0.00000000 0.00000000 M-7 15,243,000.00 4.32000% 1000.00000000 3.96000000 0.00000000 0.00000000 M-8 15,243,000.00 4.46000% 1000.00000000 4.08833366 0.00000000 0.00000000 M-9 12,195,000.00 5.07000% 1000.00000000 4.64749979 0.00000000 0.00000000 M-10 12,195,000.00 6.34000% 1000.00000000 5.81166626 0.00000000 0.00000000 B-1 16,463,000.00 6.34000% 1000.00000000 5.81166677 0.00000000 0.00000000 B-2 7,317,000.00 6.34000% 1000.00000000 5.81166735 0.00000000 0.00000000 CE 7,317,562.49 0.00000% 161903.96427759 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-1 0.00000000 0.00000000 2.93607145 0.00000000 951.07292467 A-2A 0.00000000 0.00000000 2.66851459 0.00000000 886.56540541 A-2B 0.00000000 0.00000000 3.01583327 0.00000000 1000.00000000 A-2C 0.00000000 0.00000000 3.11666667 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 3.23583339 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.24500013 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.27250000 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.41916686 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.45583329 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.52000000 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 3.96000000 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 4.08833366 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 4.64749979 0.00000000 1000.00000000 M-10 0.00000000 0.00000000 5.81166626 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 5.81166677 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 5.81166735 0.00000000 1000.00000000 CE 0.00000000 0.00000000 375.45635227 0.00000000 159767.02785629 P 0.00000000 0.00000000 2542270.20000000 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 22,741,425.51 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 40,696.48 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 254,227.02 Total Deposits 23,036,349.01 Withdrawals Reimbursement for Servicer Advances 109,983.06 Payment of Service Fee 525,729.44 Payment of Interest and Principal 22,400,636.51 Total Withdrawals (Pool Distribution Amount) 23,036,349.01 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 493,642.67 Credit Risk Manager Fee - The Murrayhill Company 13,821.99 Master Servicing Fee Wells Fargo 18,264.78 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 525,729.44
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 11,419.73 11,419.73 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 13 0 0 13 1,896,314.69 0.00 0.00 1,896,314.69 30 Days 27 0 0 0 27 5,145,167.52 0.00 0.00 0.00 5,145,167.52 60 Days 8 0 0 0 8 1,359,321.78 0.00 0.00 0.00 1,359,321.78 90 Days 1 0 0 0 1 440,000.00 0.00 0.00 0.00 440,000.00 120 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 13 0 0 49 6,944,489.30 1,896,314.69 0.00 0.00 8,840,803.99 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 0.205729% 0.000000% 0.000000% 0.205729% 0.162097% 0.000000% 0.000000% 0.162097% 30 Days 0.427283% 0.000000% 0.000000% 0.000000% 0.427283% 0.439809% 0.000000% 0.000000% 0.000000% 0.439809% 60 Days 0.126602% 0.000000% 0.000000% 0.000000% 0.126602% 0.116195% 0.000000% 0.000000% 0.000000% 0.116195% 90 Days 0.015825% 0.000000% 0.000000% 0.000000% 0.015825% 0.037611% 0.000000% 0.000000% 0.000000% 0.037611% 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 0.569710% 0.205729% 0.000000% 0.000000% 0.775439% 0.593615% 0.162097% 0.000000% 0.000000% 0.755712%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 Sub Grp 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 4 0 0 4 182,456.30 0.00 0.00 182,456.30 30 Days 4 0 0 0 4 230,913.69 0.00 0.00 0.00 230,913.69 60 Days 4 0 0 0 4 288,653.65 0.00 0.00 0.00 288,653.65 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 8 4 0 0 12 519,567.34 182,456.30 0.00 0.00 702,023.64 0-29 Days 0.256739% 0.000000% 0.000000% 0.256739% 0.146272% 0.000000% 0.000000% 0.146272% 30 Days 0.256739% 0.000000% 0.000000% 0.000000% 0.256739% 0.185119% 0.000000% 0.000000% 0.000000% 0.185119% 60 Days 0.256739% 0.000000% 0.000000% 0.000000% 0.256739% 0.231409% 0.000000% 0.000000% 0.000000% 0.231409% 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 0.513479% 0.256739% 0.000000% 0.000000% 0.770218% 0.416528% 0.146272% 0.000000% 0.000000% 0.562800% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 Sub Grp 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 6 0 0 6 768,447.71 0.00 0.00 768,447.71 30 Days 17 0 0 0 17 3,195,201.27 0.00 0.00 0.00 3,195,201.27 60 Days 1 0 0 0 1 216,000.00 0.00 0.00 0.00 216,000.00 90 Days 1 0 0 0 1 440,000.00 0.00 0.00 0.00 440,000.00 120 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 19 6 0 0 25 3,851,201.27 768,447.71 0.00 0.00 4,619,648.98 0-29 Days 0.155723% 0.000000% 0.000000% 0.155723% 0.105914% 0.000000% 0.000000% 0.105914% 30 Days 0.441215% 0.000000% 0.000000% 0.000000% 0.441215% 0.440392% 0.000000% 0.000000% 0.000000% 0.440392% 60 Days 0.025954% 0.000000% 0.000000% 0.000000% 0.025954% 0.029771% 0.000000% 0.000000% 0.000000% 0.029771% 90 Days 0.025954% 0.000000% 0.000000% 0.000000% 0.025954% 0.060645% 0.000000% 0.000000% 0.000000% 0.060645% 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 0.493122% 0.155723% 0.000000% 0.000000% 0.648845% 0.530808% 0.105914% 0.000000% 0.000000% 0.636722% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 Sub Grp 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 1 0 0 1 116,719.24 0.00 0.00 116,719.24 30 Days 3 0 0 0 3 285,636.56 0.00 0.00 0.00 285,636.56 60 Days 1 0 0 0 1 94,082.13 0.00 0.00 0.00 94,082.13 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 1 0 0 5 379,718.69 116,719.24 0.00 0.00 496,437.93 0-29 Days 0.315457% 0.000000% 0.000000% 0.315457% 0.261118% 0.000000% 0.000000% 0.261118% 30 Days 0.946372% 0.000000% 0.000000% 0.000000% 0.946372% 0.639011% 0.000000% 0.000000% 0.000000% 0.639011% 60 Days 0.315457% 0.000000% 0.000000% 0.000000% 0.315457% 0.210475% 0.000000% 0.000000% 0.000000% 0.210475% 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 1.261830% 0.315457% 0.000000% 0.000000% 1.577287% 0.849486% 0.261118% 0.000000% 0.000000% 1.110604% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 Sub Grp 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 2 0 0 2 828,691.44 0.00 0.00 828,691.44 30 Days 3 0 0 0 3 1,433,416.00 0.00 0.00 0.00 1,433,416.00 60 Days 2 0 0 0 2 760,586.00 0.00 0.00 0.00 760,586.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 5 2 0 0 7 2,194,002.00 828,691.44 0.00 0.00 3,022,693.44 0-29 Days 0.338409% 0.000000% 0.000000% 0.338409% 0.301462% 0.000000% 0.000000% 0.301462% 30 Days 0.507614% 0.000000% 0.000000% 0.000000% 0.507614% 0.521449% 0.000000% 0.000000% 0.000000% 0.521449% 60 Days 0.338409% 0.000000% 0.000000% 0.000000% 0.338409% 0.276687% 0.000000% 0.000000% 0.000000% 0.276687% 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 0.846024% 0.338409% 0.000000% 0.000000% 1.184433% 0.798136% 0.301462% 0.000000% 0.000000% 1.099598%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 40,696.48
SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class P 1,219,463,562.49 99.99999180% 1,169,105,110.18 99.99999145% 0.000009% 0.000000% Class CE 1,212,146,000.00 99.39992779% 1,161,788,328.21 99.37414683% 0.625845% 0.000000% Class B-2 1,204,829,000.00 98.79990992% 1,154,471,328.21 98.74828357% 0.625863% 0.000000% Class B-1 1,188,366,000.00 97.44989019% 1,138,008,328.21 97.34011262% 1.408171% 0.000000% Class M-4 1,073,126,000.00 87.99983411% 1,022,768,328.21 87.48300147% 1.825413% 0.000000% Class M-3 1,049,346,000.00 86.04979650% 998,988,328.21 85.44896725% 2.034034% 0.000000% Class M-2 1,010,323,000.00 82.84978315% 959,965,328.21 82.11111539% 3.337852% 0.000000% Class M-1 939,594,000.00 77.04977433% 889,236,328.21 76.06127494% 6.049840% 0.000000% Class A1-A 0.00 0.00000000% 0.00 0.00000000% 55.345755% 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 7.127890% Weighted Average Net Coupon 6.627890% Weighted Average Pass-Through Rate 6.595390% Weighted Average Maturity(Stepdown Calculation) 352 Beginning Scheduled Collateral Loan Count 6,393 Number Of Loans Paid In Full 74 Ending Scheduled Collateral Loan Count 6,319 Beginning Scheduled Collateral Balance 1,184,742,375.98 Ending Scheduled Collateral Balance 1,169,105,210.18 Ending Actual Collateral Balance at 31-May-2005 1,169,864,199.16 Monthly P&I Constant 7,773,621.16 Special Servicing Fee 0.00 Prepayment Penalties 254,227.02 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 736,360.25 Unscheduled Principal 14,900,805.55 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 7,316,781.97 Overcollateralized Amount 7,316,781.97 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 0.00
Group Level Collateral Statement Group Group 1 Sub Grp 1 Group 1 Sub Grp 2 Group 2 Sub Grp 1 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 8.079579 7.098635 8.516539 Weighted Average Net Rate 7.579579 6.598635 8.016539 Weighted Average Maturity 328 356 323 Beginning Loan Count 1,576 3,897 320 Loans Paid In Full 18 44 3 Ending Loan Count 1,558 3,853 317 Beginning Scheduled Balance 126,059,436.95 734,925,211.52 44,967,639.56 Ending Scheduled Balance 124,626,581.89 725,066,599.48 44,666,524.24 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal And Interest Constant 963,671.56 4,799,373.94 351,651.36 Scheduled Principal 114,915.60 451,902.26 32,510.81 Unscheduled Principal 1,317,939.46 9,406,709.78 268,604.51 Scheduled Interest 848,755.96 4,347,471.68 319,140.55 Servicing Fees 52,524.77 306,218.84 18,736.52 Master Servicing Fees 1,943.42 11,330.10 693.25 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 1,470.69 8,574.13 524.62 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 792,817.08 4,021,348.61 299,186.16 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 7.547079 6.566135 7.984039
Group Level Collateral Statement Group Group 2 Sub Grp 2 Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.550704 7.127890 Weighted Average Net Rate 6.050704 6.627890 Weighted Average Maturity 356 352 Beginning Loan Count 600 6,393 Loans Paid In Full 9 74 Ending Loan Count 591 6,319 Beginning Scheduled Balance 278,790,087.95 1,184,742,375.98 Ending scheduled Balance 274,745,504.57 1,169,105,210.18 Record Date 05/31/2005 05/31/2005 Principal And Interest Constant 1,658,924.30 7,773,621.16 Scheduled Principal 137,031.58 736,360.25 Unscheduled Principal 3,907,551.80 14,900,805.55 Scheduled Interest 1,521,892.72 7,037,260.91 Servicing Fees 116,162.54 493,642.67 Master Servicing Fees 4,298.01 18,264.78 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 3,252.55 13,821.99 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 1,398,179.62 6,511,531.47 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 6.018204 6.595390