8-K 1 abf05wf1_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 ASSET BACKED FUNDING CORPORATION Asset Backed Certificates, Series 2005-WF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-121564-04 Pooling and Servicing Agreement) (Commission 54-2173082 (State or other File Number) 54-2173083 jurisdiction 54-6658782 of Incorporation) IRS EIN c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On June 27, 2005 a distribution was made to holders of ASSET BACKED FUNDING CORPORATION, Asset Backed Certificates, Series 2005-WF1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2005-WF1 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. ASSET BACKED FUNDING CORPORATION Asset Backed Certificates, Series 2005-WF1 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 Certificates, Series 2005-WF1 Trust, relating to the June 27, 2005 distribution. EX-99.1
Asset Backed Funding Corporation Asset Backed Certificates Record Date: 5/31/2005 Distribution Date: 6/27/2005 Asset Backed Funding Corporation Asset Backed Certificates Series 2005-WF1 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 04542BLU4 SEN 3.28000% 148,551,103.02 446,643.65 A-2A 04542BLV2 SEN 3.17000% 367,019,365.22 1,066,497.11 A-2B 04542BLW0 SEN 3.27000% 346,454,000.00 1,038,495.87 A-2C 04542BLX8 SEN 3.40000% 96,035,000.00 299,309.08 M-1 04542BLY6 SUB 3.45000% 54,359,000.00 171,910.34 M-2 04542BLZ3 SUB 3.49000% 34,270,000.00 109,635.44 M-3 04542BMA7 SUB 3.54000% 16,545,000.00 53,688.53 M-4 04542BMB5 SUB 3.69000% 11,817,000.00 39,971.00 M-5 04542BMC3 SUB 3.72000% 11,817,000.00 40,295.97 M-6 04542BMD1 SUB 3.75000% 12,408,000.00 42,652.50 M-7 04542BME9 SUB 4.34000% 11,818,000.00 47,015.94 M-8 04542BMF6 SUB 4.34000% 10,044,000.00 39,958.38 M-9 04542BMG4 SUB 4.79000% 11,817,000.00 51,886.48 M-10 04542BMH2 SUB 6.34000% 8,863,000.00 51,508.80 B-1 04542BMJ8 SUB 6.34000% 4,727,000.00 27,471.75 B-2 04542BMK5 SUB 6.34000% 5,318,000.00 30,906.44 B-3 04542BML3 SUB 6.34000% 7,090,000.00 41,204.72 CE ABF5WF1CE SUB 0.00000% 5,908,538.17 2,377,109.11 R ABF5WF1R1 RES 0.00000% 0.00 0.00 P ABF05WF1P SEN 0.00000% 100.00 217,236.26 Totals 1,164,861,106.41 6,193,397.37
Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 2,260,680.23 0.00 146,290,422.79 2,707,323.88 0.00 A-2A 21,647,927.56 0.00 345,371,437.66 22,714,424.67 0.00 A-2B 0.00 0.00 346,454,000.00 1,038,495.87 0.00 A-2C 0.00 0.00 96,035,000.00 299,309.08 0.00 M-1 0.00 0.00 54,359,000.00 171,910.34 0.00 M-2 0.00 0.00 34,270,000.00 109,635.44 0.00 M-3 0.00 0.00 16,545,000.00 53,688.53 0.00 M-4 0.00 0.00 11,817,000.00 39,971.00 0.00 M-5 0.00 0.00 11,817,000.00 40,295.97 0.00 M-6 0.00 0.00 12,408,000.00 42,652.50 0.00 M-7 0.00 0.00 11,818,000.00 47,015.94 0.00 M-8 0.00 0.00 10,044,000.00 39,958.38 0.00 M-9 0.00 0.00 11,817,000.00 51,886.48 0.00 M-10 0.00 0.00 8,863,000.00 51,508.80 0.00 B-1 0.00 0.00 4,727,000.00 27,471.75 0.00 B-2 0.00 0.00 5,318,000.00 30,906.44 0.00 B-3 0.00 0.00 7,090,000.00 41,204.72 0.00 CE 0.00 0.00 5,908,538.17 2,377,109.11 0.00 R 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 100.00 217,236.26 0.00 Totals 23,908,607.79 0.00 1,140,952,498.62 30,102,005.16 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-1 151,170,000.00 148,551,103.02 0.00 2,260,680.23 0.00 0.00 A-2A 381,266,000.00 367,019,365.22 0.00 21,647,927.56 0.00 0.00 A-2B 346,454,000.00 346,454,000.00 0.00 0.00 0.00 0.00 A-2C 96,035,000.00 96,035,000.00 0.00 0.00 0.00 0.00 M-1 54,359,000.00 54,359,000.00 0.00 0.00 0.00 0.00 M-2 34,270,000.00 34,270,000.00 0.00 0.00 0.00 0.00 M-3 16,545,000.00 16,545,000.00 0.00 0.00 0.00 0.00 M-4 11,817,000.00 11,817,000.00 0.00 0.00 0.00 0.00 M-5 11,817,000.00 11,817,000.00 0.00 0.00 0.00 0.00 M-6 12,408,000.00 12,408,000.00 0.00 0.00 0.00 0.00 M-7 11,818,000.00 11,818,000.00 0.00 0.00 0.00 0.00 M-8 10,044,000.00 10,044,000.00 0.00 0.00 0.00 0.00 M-9 11,817,000.00 11,817,000.00 0.00 0.00 0.00 0.00 M-10 8,863,000.00 8,863,000.00 0.00 0.00 0.00 0.00 B-1 4,727,000.00 4,727,000.00 0.00 0.00 0.00 0.00 B-2 5,318,000.00 5,318,000.00 0.00 0.00 0.00 0.00 B-3 7,090,000.00 7,090,000.00 0.00 0.00 0.00 0.00 CE 5,909,534.48 5,908,538.17 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 1,181,727,634.48 1,164,861,106.41 0.00 23,908,607.79 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 2,260,680.23 146,290,422.79 0.96772126 2,260,680.23 A-2A 21,647,927.56 345,371,437.66 0.90585428 21,647,927.56 A-2B 0.00 346,454,000.00 1.00000000 0.00 A-2C 0.00 96,035,000.00 1.00000000 0.00 M-1 0.00 54,359,000.00 1.00000000 0.00 M-2 0.00 34,270,000.00 1.00000000 0.00 M-3 0.00 16,545,000.00 1.00000000 0.00 M-4 0.00 11,817,000.00 1.00000000 0.00 M-5 0.00 11,817,000.00 1.00000000 0.00 M-6 0.00 12,408,000.00 1.00000000 0.00 M-7 0.00 11,818,000.00 1.00000000 0.00 M-8 0.00 10,044,000.00 1.00000000 0.00 M-9 0.00 11,817,000.00 1.00000000 0.00 M-10 0.00 8,863,000.00 1.00000000 0.00 B-1 0.00 4,727,000.00 1.00000000 0.00 B-2 0.00 5,318,000.00 1.00000000 0.00 B-3 0.00 7,090,000.00 1.00000000 0.00 CE 0.00 5,908,538.17 0.99983141 0.00 R 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 23,908,607.79 1,140,952,498.62 0.96549532 23,908,607.79
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 151,170,000.00 982.67581544 0.00000000 14.95455600 0.00000000 A-2A 381,266,000.00 962.63334580 0.00000000 56.77906648 0.00000000 A-2B 346,454,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-2C 96,035,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 54,359,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 34,270,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 16,545,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 11,817,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 11,817,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 12,408,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 11,818,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 10,044,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 11,817,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-10 8,863,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 4,727,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 5,318,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 7,090,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 5,909,534.48 999.83140635 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 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 14.95455600 967.72125944 0.96772126 14.95455600 A-2A 0.00000000 56.77906648 905.85427932 0.90585428 56.77906648 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 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 999.83140635 0.99983141 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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-1 151,170,000.00 3.28000% 148,551,103.02 446,643.65 0.00 0.00 A-2A 381,266,000.00 3.17000% 367,019,365.22 1,066,497.11 0.00 0.00 A-2B 346,454,000.00 3.27000% 346,454,000.00 1,038,495.87 0.00 0.00 A-2C 96,035,000.00 3.40000% 96,035,000.00 299,309.08 0.00 0.00 M-1 54,359,000.00 3.45000% 54,359,000.00 171,910.34 0.00 0.00 M-2 34,270,000.00 3.49000% 34,270,000.00 109,635.44 0.00 0.00 M-3 16,545,000.00 3.54000% 16,545,000.00 53,688.53 0.00 0.00 M-4 11,817,000.00 3.69000% 11,817,000.00 39,971.00 0.00 0.00 M-5 11,817,000.00 3.72000% 11,817,000.00 40,295.97 0.00 0.00 M-6 12,408,000.00 3.75000% 12,408,000.00 42,652.50 0.00 0.00 M-7 11,818,000.00 4.34000% 11,818,000.00 47,015.94 0.00 0.00 M-8 10,044,000.00 4.34000% 10,044,000.00 39,958.38 0.00 0.00 M-9 11,817,000.00 4.79000% 11,817,000.00 51,886.48 0.00 0.00 M-10 8,863,000.00 6.34000% 8,863,000.00 51,508.80 0.00 0.00 B-1 4,727,000.00 6.34000% 4,727,000.00 27,471.75 0.00 0.00 B-2 5,318,000.00 6.34000% 5,318,000.00 30,906.44 0.00 0.00 B-3 7,090,000.00 6.34000% 7,090,000.00 41,204.72 0.00 0.00 CE 5,909,534.48 0.00000% 5,908,538.17 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,181,727,634.48 3,599,052.00 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 0.00 446,643.65 0.00 146,290,422.79 A-2A 0.00 0.00 1,066,497.11 0.00 345,371,437.66 A-2B 0.00 0.00 1,038,495.87 0.00 346,454,000.00 A-2C 0.00 0.00 299,309.08 0.00 96,035,000.00 M-1 0.00 0.00 171,910.34 0.00 54,359,000.00 M-2 0.00 0.00 109,635.44 0.00 34,270,000.00 M-3 0.00 0.00 53,688.53 0.00 16,545,000.00 M-4 0.00 0.00 39,971.00 0.00 11,817,000.00 M-5 0.00 0.00 40,295.97 0.00 11,817,000.00 M-6 0.00 0.00 42,652.50 0.00 12,408,000.00 M-7 0.00 0.00 47,015.94 0.00 11,818,000.00 M-8 0.00 0.00 39,958.38 0.00 10,044,000.00 M-9 0.00 0.00 51,886.48 0.00 11,817,000.00 M-10 0.00 0.00 51,508.80 0.00 8,863,000.00 B-1 0.00 0.00 27,471.75 0.00 4,727,000.00 B-2 0.00 0.00 30,906.44 0.00 5,318,000.00 B-3 0.00 0.00 41,204.72 0.00 7,090,000.00 CE 0.00 0.00 2,377,109.11 0.00 5,908,538.17 R 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 217,236.26 0.00 0.00 Totals 0.00 0.00 6,193,397.37 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-1 151,170,000.00 3.28000% 982.67581544 2.95457862 0.00000000 0.00000000 A-2A 381,266,000.00 3.17000% 962.63334580 2.79725208 0.00000000 0.00000000 A-2B 346,454,000.00 3.27000% 1000.00000000 2.99750001 0.00000000 0.00000000 A-2C 96,035,000.00 3.40000% 1000.00000000 3.11666663 0.00000000 0.00000000 M-1 54,359,000.00 3.45000% 1000.00000000 3.16250005 0.00000000 0.00000000 M-2 34,270,000.00 3.49000% 1000.00000000 3.19916662 0.00000000 0.00000000 M-3 16,545,000.00 3.54000% 1000.00000000 3.24500030 0.00000000 0.00000000 M-4 11,817,000.00 3.69000% 1000.00000000 3.38249979 0.00000000 0.00000000 M-5 11,817,000.00 3.72000% 1000.00000000 3.41000000 0.00000000 0.00000000 M-6 12,408,000.00 3.75000% 1000.00000000 3.43750000 0.00000000 0.00000000 M-7 11,818,000.00 4.34000% 1000.00000000 3.97833305 0.00000000 0.00000000 M-8 10,044,000.00 4.34000% 1000.00000000 3.97833333 0.00000000 0.00000000 M-9 11,817,000.00 4.79000% 1000.00000000 4.39083354 0.00000000 0.00000000 M-10 8,863,000.00 6.34000% 1000.00000000 5.81166648 0.00000000 0.00000000 B-1 4,727,000.00 6.34000% 1000.00000000 5.81166702 0.00000000 0.00000000 B-2 5,318,000.00 6.34000% 1000.00000000 5.81166604 0.00000000 0.00000000 B-3 7,090,000.00 6.34000% 1000.00000000 5.81166714 0.00000000 0.00000000 CE 5,909,534.48 0.00000% 999.83140635 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 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 2.95457862 0.00000000 967.72125944 A-2A 0.00000000 0.00000000 2.79725208 0.00000000 905.85427932 A-2B 0.00000000 0.00000000 2.99750001 0.00000000 1000.00000000 A-2C 0.00000000 0.00000000 3.11666663 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 3.16250005 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.19916662 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.24500030 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.38249979 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.41000000 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.43750000 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 3.97833305 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 3.97833333 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 4.39083354 0.00000000 1000.00000000 M-10 0.00000000 0.00000000 5.81166648 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 5.81166702 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 5.81166604 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 5.81166714 0.00000000 1000.00000000 CE 0.00000000 0.00000000 402.24980801 0.00000000 999.83140635 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 2172362.60000000 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 30,601,924.73 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 30,601,924.73 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 499,919.57 Payment of Interest and Principal 30,102,005.16 Total Withdrawals (Pool Distribution Amount) 30,601,924.73 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 485,358.80 Credit Risk Manager Fee 14,560.77 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 499,919.57
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Class A1 Reserve Fund 0.00 0.00 0.00 0.00 Class A-2A, A-2B, A-2C Reserve Fund 0.00 0.00 0.00 0.00 Class M and B Reserve Fund 0.00 0.00 0.00 0.00 Reserve Fund 0.00 17,712.52 17,712.52 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 60 0 0 0 60 7,231,091.04 0.00 0.00 0.00 7,231,091.04 60 Days 27 0 0 0 27 4,168,523.53 0.00 0.00 0.00 4,168,523.53 90 Days 2 0 0 0 2 408,532.01 0.00 0.00 0.00 408,532.01 120 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 89 0 0 0 89 11,808,146.58 0.00 0.00 0.00 11,808,146.58 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 0.827130% 0.000000% 0.000000% 0.000000% 0.827130% 0.633199% 0.000000% 0.000000% 0.000000% 0.633199% 60 Days 0.372208% 0.000000% 0.000000% 0.000000% 0.372208% 0.365022% 0.000000% 0.000000% 0.000000% 0.365022% 90 Days 0.027571% 0.000000% 0.000000% 0.000000% 0.027571% 0.035774% 0.000000% 0.000000% 0.000000% 0.035774% 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 1.226909% 0.000000% 0.000000% 0.000000% 1.226909% 1.033995% 0.000000% 0.000000% 0.000000% 1.033995%
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 1 0 0 0 1 28,332.37 0.00 0.00 0.00 28,332.37 60 Days 2 0 0 0 2 153,092.18 0.00 0.00 0.00 153,092.18 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 3 0 0 0 3 181,424.55 0.00 0.00 0.00 181,424.55 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.378788% 0.000000% 0.000000% 0.000000% 0.378788% 0.078202% 0.000000% 0.000000% 0.000000% 0.078202% 60 Days 0.757576% 0.000000% 0.000000% 0.000000% 0.757576% 0.422559% 0.000000% 0.000000% 0.000000% 0.422559% 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 1.136364% 0.000000% 0.000000% 0.000000% 1.136364% 0.500761% 0.000000% 0.000000% 0.000000% 0.500761% 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 10 0 0 0 10 1,268,610.62 0.00 0.00 0.00 1,268,610.62 60 Days 4 0 0 0 4 745,638.69 0.00 0.00 0.00 745,638.69 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 14 0 0 0 14 2,014,249.31 0.00 0.00 0.00 2,014,249.31 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.026694% 0.000000% 0.000000% 0.000000% 1.026694% 0.891631% 0.000000% 0.000000% 0.000000% 0.891631% 60 Days 0.410678% 0.000000% 0.000000% 0.000000% 0.410678% 0.524065% 0.000000% 0.000000% 0.000000% 0.524065% 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 1.437372% 0.000000% 0.000000% 0.000000% 1.437372% 1.415697% 0.000000% 0.000000% 0.000000% 1.415697% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 12 0 0 0 12 1,097,724.68 0.00 0.00 0.00 1,097,724.68 60 Days 1 0 0 0 1 37,532.92 0.00 0.00 0.00 37,532.92 90 Days 1 0 0 0 1 209,885.05 0.00 0.00 0.00 209,885.05 120 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 14 0 0 0 14 1,345,142.65 0.00 0.00 0.00 1,345,142.65 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.665188% 0.000000% 0.000000% 0.000000% 0.665188% 0.403242% 0.000000% 0.000000% 0.000000% 0.403242% 60 Days 0.055432% 0.000000% 0.000000% 0.000000% 0.055432% 0.013787% 0.000000% 0.000000% 0.000000% 0.013787% 90 Days 0.055432% 0.000000% 0.000000% 0.000000% 0.055432% 0.077100% 0.000000% 0.000000% 0.000000% 0.077100% 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 0.776053% 0.000000% 0.000000% 0.000000% 0.776053% 0.494130% 0.000000% 0.000000% 0.000000% 0.494130% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 37 0 0 0 37 4,836,423.37 0.00 0.00 0.00 4,836,423.37 60 Days 20 0 0 0 20 3,232,259.74 0.00 0.00 0.00 3,232,259.74 90 Days 1 0 0 0 1 198,646.96 0.00 0.00 0.00 198,646.96 120 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 58 0 0 0 58 8,267,330.07 0.00 0.00 0.00 8,267,330.07 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.878443% 0.000000% 0.000000% 0.000000% 0.878443% 0.699655% 0.000000% 0.000000% 0.000000% 0.699655% 60 Days 0.474834% 0.000000% 0.000000% 0.000000% 0.474834% 0.467591% 0.000000% 0.000000% 0.000000% 0.467591% 90 Days 0.023742% 0.000000% 0.000000% 0.000000% 0.023742% 0.028737% 0.000000% 0.000000% 0.000000% 0.028737% 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 1.377018% 0.000000% 0.000000% 0.000000% 1.377018% 1.195982% 0.000000% 0.000000% 0.000000% 1.195982%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 77,552.68
COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 6.671436% Weighted Average Net Coupon 6.171436% Weighted Average Pass-Through Rate 6.156436% Weighted Average Maturity(Stepdown Calculation) 348 Beginning Scheduled Collateral Loan Count 7,377 Number Of Loans Paid In Full 123 Ending Scheduled Collateral Loan Count 7,254 Beginning Scheduled Collateral Balance 1,164,861,106.41 Ending Scheduled Collateral Balance 1,140,952,498.62 Ending Actual Collateral Balance at 31-May-2005 1,141,992,736.04 Monthly P&I Constant 7,601,469.45 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 1,125,388.78 Unscheduled Principal 22,783,219.01 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 5,908,638.17 Overcollateralized Amount 5,908,638.17 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 2,394,821.63
Miscellaneous Reporting Cap CarryOver Amount 17,712.52
Group Level Collateral Statement Group 1 2 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 6.566833 6.703283 6.661586 Weighted Average Net Rate 6.066833 6.203283 6.161586 Weighted Average Maturity 348 355 319 Beginning Loan Count 264 986 1,833 Loans Paid In Full 0 12 29 Ending Loan Count 264 974 1,804 Beginning Scheduled Balance 36,252,143.85 144,365,285.94 277,610,917.10 Ending Scheduled Balance 36,197,465.23 142,159,284.33 271,942,966.20 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal And Interest Constant 240,639.18 935,524.30 1,860,768.69 Scheduled Principal 42,254.36 129,089.82 319,661.10 Unscheduled Principal 12,424.26 2,076,911.79 5,348,289.80 Scheduled Interest 198,384.82 806,434.48 1,541,107.59 Servicing Fees 15,105.06 60,152.20 115,671.22 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 453.15 1,804.57 3,470.14 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 182,826.61 744,477.71 1,421,966.23 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 6.051833 6.188283 6.146586
Group Level Collateral Statement Group 4 Total Collateral Description Fixed 15/30 & ARM Fixed & Mixed ARM Weighted Average Coupon Rate 6.674166 6.671436 Weighted Average Net Rate 6.174166 6.171436 Weighted Average Maturity 354 348 Beginning Loan Count 4,294 7,377 Loans Paid In Full 82 123 Ending Loan Count 4,212 7,254 Beginning Scheduled Balance 706,632,759.52 1,164,861,106.41 Ending scheduled Balance 690,652,782.86 1,140,952,498.62 Record Date 05/31/2005 05/31/2005 Principal And Interest Constant 4,564,537.28 7,601,469.45 Scheduled Principal 634,383.50 1,125,388.78 Unscheduled Principal 15,345,593.16 22,783,219.01 Scheduled Interest 3,930,153.78 6,476,080.67 Servicing Fees 294,430.32 485,358.80 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 8,832.91 14,560.77 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 3,626,890.55 5,976,161.10 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 6.159166 6.156436
Miscellaneous Reporting Group 1 Group 1 Available Funds 3,197,994.16 Group 2 Group 2 Available Funds 26,904,010.99
Group