-----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, HsWcGFlDl3XfmrM0ykAw3NKmB0qe1G7Anr6dcnwIj7dTx3m7M8c4sWb45F06eLyo K6iha3s3GwBAdqPqPFcx6g== 0001056404-05-003604.txt : 20051028 0001056404-05-003604.hdr.sgml : 20051028 20051028141815 ACCESSION NUMBER: 0001056404-05-003604 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20051025 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051028 DATE AS OF CHANGE: 20051028 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Renaissance Home Equity Loan Trust 2005-3 CENTRAL INDEX KEY: 0001340105 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: 333-118739-03 FILM NUMBER: 051162679 BUSINESS ADDRESS: STREET 1: MCKEE NELSON LLP STREET 2: 5 TIMES SQUARE 35TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 9177774200 MAIL ADDRESS: STREET 1: 1000 WOODBURY ROAD CITY: WOODBURY STATE: NY ZIP: 11797 8-K 1 rma05003_10510.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): October 25, 2005 RENAISSANCE HOME EQUITY LOAN TRUST Home Equity Loan Asset-Backed Notes, Series 2005-3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-118739-03 Pooling and Servicing Agreement) (Commission N/A (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On October 25, 2005 a distribution was made to holders of RENAISSANCE HOME EQUITY LOAN TRUST, Home Equity Loan Asset-Backed Notes, Series 2005-3 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan Asset-Backed Notes, Series 2005-3 Trust, relating to the October 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. RENAISSANCE HOME EQUITY LOAN TRUST Home Equity Loan Asset-Backed Notes, Series 2005-3 Trust (Registrant) By: Wells Fargo Bank, N.A. as Master Servicer By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 10/25/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan Asset-Backed Notes, Series 2005-3 Trust, relating to the October 25, 2005 distribution. EX-99.1
Renaissance Home Equity Loan Trust Home Equity Loan Asset-Backed Notes Record Date: 9/30/2005 Distribution Date: 10/25/2005 Renaissance Home Equity Loan Trust Home Equity Loan Asset-Backed Notes Series 2005-3 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 AV1 75970NAY3 3.98000% 86,555,000.00 248,797.54 AV2 75970NAZ0 4.14000% 33,162,000.00 99,154.38 AV3 75970NBA4 4.22000% 45,283,000.00 138,012.52 AF1 75970NBB2 3.99000% 189,937,000.00 547,335.12 AF2 75970NBC0 4.72300% 99,570,000.00 391,890.93 AF3 75970NBD8 4.81400% 75,414,000.00 302,535.83 AF4 75970NBE6 5.14000% 45,115,000.00 193,242.58 AF5 75970NBF3 5.42800% 38,434,000.00 173,849.79 AF6 75970NBG1 5.00700% 49,830,000.00 207,915.67 M1 75970NBH9 5.25600% 28,050,000.00 122,859.00 M2 75970NBJ5 5.35500% 24,750,000.00 110,446.88 M3 75970NBK2 5.48400% 17,325,000.00 79,175.25 M4 75970NBL0 5.60300% 12,787,000.00 59,704.63 M5 75970NBM8 5.65300% 13,200,000.00 62,183.00 M6 75970NBN6 5.80200% 11,138,000.00 53,852.23 M7 75970NBP1 6.04700% 10,725,000.00 54,045.06 M8 75970NBQ9 6.19600% 8,250,000.00 42,597.50 M9 75970NBR7 7.00000% 8,250,000.00 48,125.00 N 75970NBS2 5.50000% 34,500,000.00 137,041.67 Totals 832,275,000.00 3,072,764.58
Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses AV1 783,050.43 0.00 85,771,949.57 1,031,847.97 0.00 AV2 0.00 0.00 33,162,000.00 99,154.38 0.00 AV3 0.00 0.00 45,283,000.00 138,012.52 0.00 AF1 2,122,386.71 0.00 187,814,613.29 2,669,721.83 0.00 AF2 0.00 0.00 99,570,000.00 391,890.93 0.00 AF3 0.00 0.00 75,414,000.00 302,535.83 0.00 AF4 0.00 0.00 45,115,000.00 193,242.58 0.00 AF5 0.00 0.00 38,434,000.00 173,849.79 0.00 AF6 0.00 0.00 49,830,000.00 207,915.67 0.00 M1 0.00 0.00 28,050,000.00 122,859.00 0.00 M2 0.00 0.00 24,750,000.00 110,446.88 0.00 M3 0.00 0.00 17,325,000.00 79,175.25 0.00 M4 0.00 0.00 12,787,000.00 59,704.63 0.00 M5 0.00 0.00 13,200,000.00 62,183.00 0.00 M6 0.00 0.00 11,138,000.00 53,852.23 0.00 M7 0.00 0.00 10,725,000.00 54,045.06 0.00 M8 0.00 0.00 8,250,000.00 42,597.50 0.00 M9 0.00 0.00 8,250,000.00 48,125.00 0.00 N 1,373,311.03 0.00 33,126,688.97 1,510,352.70 0.00 Totals 4,278,748.17 0.00 827,996,251.83 7,351,512.75 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) M1 28,050,000.00 28,050,000.00 0.00 0.00 0.00 0.00 M2 24,750,000.00 24,750,000.00 0.00 0.00 0.00 0.00 M3 17,325,000.00 17,325,000.00 0.00 0.00 0.00 0.00 M4 12,787,000.00 12,787,000.00 0.00 0.00 0.00 0.00 M5 13,200,000.00 13,200,000.00 0.00 0.00 0.00 0.00 M6 11,138,000.00 11,138,000.00 0.00 0.00 0.00 0.00 M7 10,725,000.00 10,725,000.00 0.00 0.00 0.00 0.00 M8 8,250,000.00 8,250,000.00 0.00 0.00 0.00 0.00 M9 8,250,000.00 8,250,000.00 0.00 0.00 0.00 0.00 N 34,500,000.00 34,500,000.00 0.00 1,373,311.03 0.00 0.00 Totals 168,975,000.00 168,975,000.00 0.00 1,373,311.03 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 M1 0.00 28,050,000.00 1.00000000 0.00 M2 0.00 24,750,000.00 1.00000000 0.00 M3 0.00 17,325,000.00 1.00000000 0.00 M4 0.00 12,787,000.00 1.00000000 0.00 M5 0.00 13,200,000.00 1.00000000 0.00 M6 0.00 11,138,000.00 1.00000000 0.00 M7 0.00 10,725,000.00 1.00000000 0.00 M8 0.00 8,250,000.00 1.00000000 0.00 M9 0.00 8,250,000.00 1.00000000 0.00 N 1,373,311.03 33,126,688.97 0.96019388 1,373,311.03 Totals 1,373,311.03 167,601,688.97 0.99187270 1,373,311.03
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion AV1 86,555,000.00 1000.00000000 0.00000000 9.04685379 0.00000000 AV2 33,162,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AV3 45,283,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AF1 189,937,000.00 1000.00000000 0.00000000 11.17416149 0.00000000 AF2 99,570,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AF3 75,414,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AF4 45,115,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AF5 38,434,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 AF6 49,830,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 28,050,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 24,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 17,325,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 12,787,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 13,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 11,138,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 10,725,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M8 8,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M9 8,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 N 34,500,000.00 1000.00000000 0.00000000 39.80611681 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 AV1 0.00000000 9.04685379 990.95314621 0.99095315 9.04685379 AV2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AV3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AF1 0.00000000 11.17416149 988.82583851 0.98882584 11.17416149 AF2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AF3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AF4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AF5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 AF6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 N 0.00000000 39.80611681 960.19388319 0.96019388 39.80611681 (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 AV1 86,555,000.00 3.98000% 86,555,000.00 248,797.54 0.00 0.00 AV2 33,162,000.00 4.14000% 33,162,000.00 99,154.38 0.00 0.00 AV3 45,283,000.00 4.22000% 45,283,000.00 138,012.52 0.00 0.00 AF1 189,937,000.00 3.99000% 189,937,000.00 547,335.12 0.00 0.00 AF2 99,570,000.00 4.72300% 99,570,000.00 391,890.93 0.00 0.00 AF3 75,414,000.00 4.81400% 75,414,000.00 302,535.83 0.00 0.00 AF4 45,115,000.00 5.14000% 45,115,000.00 193,242.58 0.00 0.00 AF5 38,434,000.00 5.42800% 38,434,000.00 173,849.79 0.00 0.00 AF6 49,830,000.00 5.00700% 49,830,000.00 207,915.67 0.00 0.00 M1 28,050,000.00 5.25600% 28,050,000.00 122,859.00 0.00 0.00 M2 24,750,000.00 5.35500% 24,750,000.00 110,446.88 0.00 0.00 M3 17,325,000.00 5.48400% 17,325,000.00 79,175.25 0.00 0.00 M4 12,787,000.00 5.60300% 12,787,000.00 59,704.63 0.00 0.00 M5 13,200,000.00 5.65300% 13,200,000.00 62,183.00 0.00 0.00 M6 11,138,000.00 5.80200% 11,138,000.00 53,852.23 0.00 0.00 M7 10,725,000.00 6.04700% 10,725,000.00 54,045.06 0.00 0.00 M8 8,250,000.00 6.19600% 8,250,000.00 42,597.50 0.00 0.00 M9 8,250,000.00 7.00000% 8,250,000.00 48,125.00 0.00 0.00 N 34,500,000.00 5.50000% 34,500,000.00 137,041.67 0.00 0.00 Totals 832,275,000.00 3,072,764.58 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 AV1 0.00 0.00 248,797.54 0.00 85,771,949.57 AV2 0.00 0.00 99,154.38 0.00 33,162,000.00 AV3 0.00 0.00 138,012.52 0.00 45,283,000.00 AF1 0.00 0.00 547,335.12 0.00 187,814,613.29 AF2 0.00 0.00 391,890.93 0.00 99,570,000.00 AF3 0.00 0.00 302,535.83 0.00 75,414,000.00 AF4 0.00 0.00 193,242.58 0.00 45,115,000.00 AF5 0.00 0.00 173,849.79 0.00 38,434,000.00 AF6 0.00 0.00 207,915.67 0.00 49,830,000.00 M1 0.00 0.00 122,859.00 0.00 28,050,000.00 M2 0.00 0.00 110,446.88 0.00 24,750,000.00 M3 0.00 0.00 79,175.25 0.00 17,325,000.00 M4 0.00 0.00 59,704.63 0.00 12,787,000.00 M5 0.00 0.00 62,183.00 0.00 13,200,000.00 M6 0.00 0.00 53,852.23 0.00 11,138,000.00 M7 0.00 0.00 54,045.06 0.00 10,725,000.00 M8 0.00 0.00 42,597.50 0.00 8,250,000.00 M9 0.00 0.00 48,125.00 0.00 8,250,000.00 N 0.00 0.00 137,041.67 0.00 33,126,688.97 Totals 0.00 0.00 3,072,764.58 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 AV1 86,555,000.00 3.98000% 1000.00000000 2.87444446 0.00000000 0.00000000 AV2 33,162,000.00 4.14000% 1000.00000000 2.99000000 0.00000000 0.00000000 AV3 45,283,000.00 4.22000% 1000.00000000 3.04777775 0.00000000 0.00000000 AF1 189,937,000.00 3.99000% 1000.00000000 2.88166666 0.00000000 0.00000000 AF2 99,570,000.00 4.72300% 1000.00000000 3.93583338 0.00000000 0.00000000 AF3 75,414,000.00 4.81400% 1000.00000000 4.01166667 0.00000000 0.00000000 AF4 45,115,000.00 5.14000% 1000.00000000 4.28333326 0.00000000 0.00000000 AF5 38,434,000.00 5.42800% 1000.00000000 4.52333325 0.00000000 0.00000000 AF6 49,830,000.00 5.00700% 1000.00000000 4.17249990 0.00000000 0.00000000 M1 28,050,000.00 5.25600% 1000.00000000 4.38000000 0.00000000 0.00000000 M2 24,750,000.00 5.35500% 1000.00000000 4.46250020 0.00000000 0.00000000 M3 17,325,000.00 5.48400% 1000.00000000 4.57000000 0.00000000 0.00000000 M4 12,787,000.00 5.60300% 1000.00000000 4.66916634 0.00000000 0.00000000 M5 13,200,000.00 5.65300% 1000.00000000 4.71083333 0.00000000 0.00000000 M6 11,138,000.00 5.80200% 1000.00000000 4.83500000 0.00000000 0.00000000 M7 10,725,000.00 6.04700% 1000.00000000 5.03916643 0.00000000 0.00000000 M8 8,250,000.00 6.19600% 1000.00000000 5.16333333 0.00000000 0.00000000 M9 8,250,000.00 7.00000% 1000.00000000 5.83333333 0.00000000 0.00000000 N 34,500,000.00 5.50000% 1000.00000000 3.97222232 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 AV1 0.00000000 0.00000000 2.87444446 0.00000000 990.95314621 AV2 0.00000000 0.00000000 2.99000000 0.00000000 1000.00000000 AV3 0.00000000 0.00000000 3.04777775 0.00000000 1000.00000000 AF1 0.00000000 0.00000000 2.88166666 0.00000000 988.82583851 AF2 0.00000000 0.00000000 3.93583338 0.00000000 1000.00000000 AF3 0.00000000 0.00000000 4.01166667 0.00000000 1000.00000000 AF4 0.00000000 0.00000000 4.28333326 0.00000000 1000.00000000 AF5 0.00000000 0.00000000 4.52333325 0.00000000 1000.00000000 AF6 0.00000000 0.00000000 4.17249990 0.00000000 1000.00000000 M1 0.00000000 0.00000000 4.38000000 0.00000000 1000.00000000 M2 0.00000000 0.00000000 4.46250020 0.00000000 1000.00000000 M3 0.00000000 0.00000000 4.57000000 0.00000000 1000.00000000 M4 0.00000000 0.00000000 4.66916634 0.00000000 1000.00000000 M5 0.00000000 0.00000000 4.71083333 0.00000000 1000.00000000 M6 0.00000000 0.00000000 4.83500000 0.00000000 1000.00000000 M7 0.00000000 0.00000000 5.03916643 0.00000000 1000.00000000 M8 0.00000000 0.00000000 5.16333333 0.00000000 1000.00000000 M9 0.00000000 0.00000000 5.83333333 0.00000000 1000.00000000 N 0.00000000 0.00000000 3.97222232 0.00000000 960.19388319 (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 7,664,825.16 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 7,664,825.16 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 313,312.41 Payment of Interest and Principal 7,351,512.75 Total Withdrawals (Pool Distribution Amount) 7,664,825.16 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 302,999.91 Master Servicing Fee 10,312.50 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 313,312.41
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 1 0 0 0 1 80,797.26 0.00 0.00 0.00 80,797.26 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 1 0 0 0 1 307,149.76 0.00 0.00 0.00 307,149.76 120 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 2 0 0 0 2 387,947.02 0.00 0.00 0.00 387,947.02 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 0.018854% 0.000000% 0.000000% 0.000000% 0.018854% 0.009822% 0.000000% 0.000000% 0.000000% 0.009822% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.018854% 0.000000% 0.000000% 0.000000% 0.018854% 0.037340% 0.000000% 0.000000% 0.000000% 0.037340% 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 0.037707% 0.000000% 0.000000% 0.000000% 0.037707% 0.047162% 0.000000% 0.000000% 0.000000% 0.047162%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total I 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 80,797.26 0.00 0.00 0.00 80,797.26 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 1 0 0 0 1 307,149.76 0.00 0.00 0.00 307,149.76 120 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 2 0 0 0 2 387,947.02 0.00 0.00 0.00 387,947.02 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.102354% 0.000000% 0.000000% 0.000000% 0.102354% 0.049179% 0.000000% 0.000000% 0.000000% 0.049179% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.102354% 0.000000% 0.000000% 0.000000% 0.102354% 0.186953% 0.000000% 0.000000% 0.000000% 0.186953% 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 0.204708% 0.000000% 0.000000% 0.000000% 0.204708% 0.236132% 0.000000% 0.000000% 0.000000% 0.236132% DELINQUENT BANKRUPTCY FORECLOSURE REO Total II 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 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.893170% Weighted Average Net Coupon 6.470133% Weighted Average Pass-Through Rate 6.437442% Weighted Average Maturity(Stepdown Calculation) 358 Beginning Scheduled Collateral Loan Count 5,320 Number Of Loans Paid In Full 16 Ending Scheduled Collateral Loan Count 5,304 Beginning Scheduled Collateral Balance 859,499,792.68 Ending Scheduled Collateral Balance 822,094,556.02 Ending Actual Collateral Balance at 30-Sep-2005 822,578,902.84 Monthly P&I Constant 5,421,646.06 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 682,593.10 Unscheduled Principal 2,222,643.56
Miscellaneous Reporting Class AF1 Cap Payment 0.00 Class N Cap Payment 0.00 Overcollateralization Amount 27,224,993.16 Overcollateralization Increase Amount 200.48 Overcollateralization Reduction Amount 0.00 Target Overcollateralization Amount 27,224,993.16
Group Level Collateral Statement Group I II Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.125691 6.835039 6.893170 Weighted Average Net Rate 6.677181 6.396258 6.470133 Weighted Average Maturity 358 329 358 Beginning Loan Count 980 4,340 5,320 Loans Paid In Full 3 13 16 Ending Loan Count 977 4,327 5,304 Beginning Scheduled Balance 164,999,809.15 659,999,983.53 824,999,792.68 Ending Scheduled Balance 164,216,949.57 657,877,606.45 822,094,556.02 Record Date 09/30/2005 09/30/2005 09/30/2005 Principal And Interest Constant 1,077,956.86 4,343,689.20 5,421,646.06 Scheduled Principal 98,175.42 584,417.68 682,593.10 Unscheduled Principal 684,684.16 1,537,959.40 2,222,643.56 Scheduled Interest 979,781.44 3,759,271.52 4,739,052.96 Servicing Fees 61,670.06 241,329.85 302,999.91 Master Servicing Fees 2,062.50 8,250.00 10,312.50 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 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 916,048.88 3,509,691.67 4,425,740.55 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 6.662181 6.381258 6.437442
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 I 3 679,650.00 679,056.78 0 0.00 0.00 II 13 1,493,275.00 1,491,953.27 0 0.00 0.00 Total 16 2,172,925.00 2,171,010.05 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 I 0 0.00 0.00 0 0.00 0.00 6,056.22 II 0 0.00 0.00 0 0.00 0.00 48,653.66 Total 0 0.00 0.00 0 0.00 0.00 54,709.88
Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount I 0102182193 OH 90.00 01-Aug-2005 128,250.00 128,007.45 I 0102188604 MA 86.31 01-Aug-2005 306,400.00 305,749.78 I 0102893385 NJ 54.44 01-Oct-2005 245,000.00 244,870.71 II 0102162500 CO 11.63 01-Jul-2005 57,545.00 57,204.30 II 0102175825 MD 64.94 01-Aug-2005 55,200.00 54,905.66 II 0102176815 CO 51.19 01-Aug-2005 60,000.00 59,717.35 II 0102185477 WI 82.22 01-Sep-2005 74,000.00 73,849.44 II 0102190071 VA 67.14 01-Sep-2005 94,000.00 93,500.87 II 0102195112 DE 68.42 01-Sep-2005 130,000.00 129,661.93 II 0102198744 WI 79.50 01-Sep-2005 141,510.00 141,290.30 II 0102874179 NC 80.00 01-Sep-2005 56,000.00 55,932.46 II 0102874682 GA 75.00 01-Sep-2005 86,250.00 86,155.22 II 0102880424 CA 95.00 01-Oct-2005 222,680.00 221,282.29 II 0102881877 NJ 100.00 01-Oct-2005 138,000.00 137,978.11 II 0102884475 MD 90.00 01-Oct-2005 254,790.00 254,545.65 II 0102904463 FL 90.00 01-Oct-2005 123,300.00 123,282.16
Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning I 0102182193 Loan Paid in Full 0 8.340% 360 2 I 0102188604 Loan Paid in Full 0 7.771% 360 2 I 0102893385 Loan Paid in Full 0 9.165% 360 0 II 0102162500 Loan Paid in Full 0 9.190% 240 3 II 0102175825 Loan Paid in Full 0 8.640% 228 2 II 0102176815 Loan Paid in Full 0 7.890% 252 2 II 0102185477 Loan Paid in Full 0 10.240% 264 1 II 0102190071 Loan Paid in Full 0 8.990% 180 1 II 0102195112 Loan Paid in Full 0 7.240% 288 1 II 0102198744 Loan Paid in Full 0 7.290% 360 1 II 0102874179 Loan Paid in Full 0 8.540% 360 1 II 0102874682 Loan Paid in Full 0 8.990% 360 1 II 0102880424 Loan Paid in Full 0 8.240% 108 0 II 0102881877 Loan Paid in Full 0 9.990% 360 0 II 0102884475 Loan Paid in Full 0 7.490% 324 0 II 0102904463 Loan Paid in Full 0 10.290% 360 0
Prepayment - Voluntary Prepayments
Summary SMM CPR PSA Current Month 0.270% Current Month 3.188% Current Month 2,395.309% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 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. 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 3.188% N/A Oct-2005 2,395.309% 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. I SMM CPR PSA Current Month 0.415% Current Month 4.870% Current Month 3,246.733% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 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. 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 4.870% N/A Oct-2005 3,246.733% 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. II SMM CPR PSA Current Month 0.233% Current Month 2.763% Current Month 2,144.048% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 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. 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 2.763% N/A Oct-2005 2,144.048% 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 I 0 0.00 0.00 0.000% II 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. 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 0.000% N/A Oct-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. 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 0.000% N/A Oct-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. I 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. 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 0.000% N/A Oct-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. 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 0.000% N/A Oct-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. II 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. 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 0.000% N/A Oct-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. 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 0.000% N/A Oct-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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