-----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, Qwy/mpM4XzcLzvtePbG60afF6oc/22qqPFzLSK8Oj40V/sE+M7cST/hxro3Z/M/1 UmPwsFc1a1+bORV1n3n1jA== 0001056404-05-003586.txt : 20051028 0001056404-05-003586.hdr.sgml : 20051028 20051028112453 ACCESSION NUMBER: 0001056404-05-003586 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: Bear Stearns Asset Backed Securities I Trust 2005-AC7 CENTRAL INDEX KEY: 0001340430 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: 333-125422-20 FILM NUMBER: 051161950 BUSINESS ADDRESS: STREET 1: 383 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10179 BUSINESS PHONE: 2122722000 MAIL ADDRESS: STREET 1: 383 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10179 8-K 1 bsa05ac7_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 BEAR STEARNS ASSET BACKED SECURITIES I TRUST Asset Backed Certificates, Series 2005-AC7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-125422-20 Pooling and Servicing Agreement) (Commission 54-2184243 (State or other File Number) 54-2184244 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 October 25, 2005 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES I TRUST, Asset Backed Certificates, Series 2005-AC7 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-AC7 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. BEAR STEARNS ASSET BACKED SECURITIES I TRUST Asset Backed Certificates, Series 2005-AC7 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator 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 Asset Backed Certificates, Series 2005-AC7 Trust, relating to the October 25, 2005 distribution. EX-99.1
Bear Stearns Asset Backed Securities I Asset Backed Certificates Record Date: 9/30/2005 Distribution Date: 10/25/2005 Bear Stearns Asset Backed Securities I Asset Backed Certificates Series BSABS 2005-AC7 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 073879T24 SEN 4.02000% 55,000,000.00 153,541.67 A-2 073879T32 SEN 8.75600% 25,000,000.00 152,013.89 A-3 073879T40 SEN 5.50000% 75,000,000.00 343,750.00 A-4 073879T57 SEN 5.50000% 102,296,000.00 468,856.67 M-1 073879T65 MEZ 4.34063% 18,755,000.00 56,533.69 M-2 073879T73 MEZ 4.49063% 17,109,000.00 53,354.30 M-3 073879T81 MEZ 4.57063% 6,580,000.00 20,885.24 B-1 073879T99 SUB 5.04063% 6,580,000.00 23,032.88 B-2 073879U22 SUB 5.19063% 6,909,000.00 24,904.21 B-3 073879U30 SUB 5.59063% 5,922,000.00 22,991.47 B-4 073879U63 SUB 6.84063% 7,568,000.00 35,951.31 R-1 073879U71 RES 0.00000% 0.00 0.00 R-2 073879U89 RES 0.00000% 0.00 0.00 P 073879U55 SEN 0.00000% 100.00 7,992.76 C 073879U48 SEN 0.00000% 2,303,924.89 373,971.29 Totals 329,023,024.89 1,737,779.38
Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 524,825.11 0.00 54,475,174.89 678,366.78 0.00 A-2 238,556.87 0.00 24,761,443.13 390,570.76 0.00 A-3 715,670.60 0.00 74,284,329.40 1,059,420.60 0.00 A-4 976,136.53 0.00 101,319,863.47 1,444,993.20 0.00 M-1 178,965.36 0.00 18,576,034.64 235,499.05 0.00 M-2 163,258.78 0.00 16,945,741.22 216,613.08 0.00 M-3 62,788.17 0.00 6,517,211.83 83,673.41 0.00 B-1 62,788.17 0.00 6,517,211.83 85,821.05 0.00 B-2 65,927.58 0.00 6,843,072.42 90,831.79 0.00 B-3 56,509.35 0.00 5,865,490.65 79,500.82 0.00 B-4 72,215.93 0.00 7,495,784.07 108,167.24 0.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 100.00 7,992.76 0.00 C 0.00 0.00 2,303,924.89 373,971.29 0.00 Totals 3,117,642.45 0.00 325,905,382.44 4,855,421.83 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 55,000,000.00 55,000,000.00 0.00 524,825.11 0.00 0.00 A-2 25,000,000.00 25,000,000.00 0.00 238,556.87 0.00 0.00 A-3 75,000,000.00 75,000,000.00 0.00 715,670.60 0.00 0.00 A-4 102,296,000.00 102,296,000.00 0.00 976,136.53 0.00 0.00 M-1 18,755,000.00 18,755,000.00 0.00 178,965.36 0.00 0.00 M-2 17,109,000.00 17,109,000.00 0.00 163,258.78 0.00 0.00 M-3 6,580,000.00 6,580,000.00 0.00 62,788.17 0.00 0.00 B-1 6,580,000.00 6,580,000.00 0.00 62,788.17 0.00 0.00 B-2 6,909,000.00 6,909,000.00 0.00 65,927.58 0.00 0.00 B-3 5,922,000.00 5,922,000.00 0.00 56,509.35 0.00 0.00 B-4 7,568,000.00 7,568,000.00 0.00 72,215.93 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 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 C 2,303,924.89 2,303,924.89 0.00 0.00 0.00 0.00 Totals 329,023,024.89 329,023,024.89 0.00 3,117,642.45 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-1 524,825.11 54,475,174.89 0.99045773 524,825.11 A-2 238,556.87 24,761,443.13 0.99045773 238,556.87 A-3 715,670.60 74,284,329.40 0.99045773 715,670.60 A-4 976,136.53 101,319,863.47 0.99045773 976,136.53 M-1 178,965.36 18,576,034.64 0.99045773 178,965.36 M-2 163,258.78 16,945,741.22 0.99045773 163,258.78 M-3 62,788.17 6,517,211.83 0.99045772 62,788.17 B-1 62,788.17 6,517,211.83 0.99045772 62,788.17 B-2 65,927.58 6,843,072.42 0.99045772 65,927.58 B-3 56,509.35 5,865,490.65 0.99045773 56,509.35 B-4 72,215.93 7,495,784.07 0.99045773 72,215.93 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 C 0.00 2,303,924.89 1.00000000 0.00 Totals 3,117,642.45 325,905,382.44 0.99052455 3,117,642.45
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 55,000,000.00 1000.00000000 0.00000000 9.54227473 0.00000000 A-2 25,000,000.00 1000.00000000 0.00000000 9.54227480 0.00000000 A-3 75,000,000.00 1000.00000000 0.00000000 9.54227467 0.00000000 A-4 102,296,000.00 1000.00000000 0.00000000 9.54227467 0.00000000 M-1 18,755,000.00 1000.00000000 0.00000000 9.54227459 0.00000000 M-2 17,109,000.00 1000.00000000 0.00000000 9.54227483 0.00000000 M-3 6,580,000.00 1000.00000000 0.00000000 9.54227508 0.00000000 B-1 6,580,000.00 1000.00000000 0.00000000 9.54227508 0.00000000 B-2 6,909,000.00 1000.00000000 0.00000000 9.54227529 0.00000000 B-3 5,922,000.00 1000.00000000 0.00000000 9.54227457 0.00000000 B-4 7,568,000.00 1000.00000000 0.00000000 9.54227405 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 2,303,924.89 1000.00000000 0.00000000 0.00000000 0.00000000
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 9.54227473 990.45772527 0.99045773 9.54227473 A-2 0.00000000 9.54227480 990.45772520 0.99045773 9.54227480 A-3 0.00000000 9.54227467 990.45772533 0.99045773 9.54227467 A-4 0.00000000 9.54227467 990.45772533 0.99045773 9.54227467 M-1 0.00000000 9.54227459 990.45772541 0.99045773 9.54227459 M-2 0.00000000 9.54227483 990.45772517 0.99045773 9.54227483 M-3 0.00000000 9.54227508 990.45772492 0.99045772 9.54227508 B-1 0.00000000 9.54227508 990.45772492 0.99045772 9.54227508 B-2 0.00000000 9.54227529 990.45772471 0.99045772 9.54227529 B-3 0.00000000 9.54227457 990.45772543 0.99045773 9.54227457 B-4 0.00000000 9.54227405 990.45772595 0.99045773 9.54227405 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 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 55,000,000.00 4.02000% 55,000,000.00 153,541.67 0.00 0.00 A-2 25,000,000.00 8.75600% 25,000,000.00 152,013.89 0.00 0.00 A-3 75,000,000.00 5.50000% 75,000,000.00 343,750.00 0.00 0.00 A-4 102,296,000.00 5.50000% 102,296,000.00 468,856.67 0.00 0.00 M-1 18,755,000.00 4.34063% 18,755,000.00 56,533.69 0.00 0.00 M-2 17,109,000.00 4.49063% 17,109,000.00 53,354.30 0.00 0.00 M-3 6,580,000.00 4.57063% 6,580,000.00 20,885.24 0.00 0.00 B-1 6,580,000.00 5.04063% 6,580,000.00 23,032.88 0.00 0.00 B-2 6,909,000.00 5.19063% 6,909,000.00 24,904.21 0.00 0.00 B-3 5,922,000.00 5.59063% 5,922,000.00 22,991.47 0.00 0.00 B-4 7,568,000.00 6.84063% 7,568,000.00 35,951.31 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 C 2,303,924.89 0.00000% 329,023,025.32 0.00 0.00 0.00 Totals 329,023,024.89 1,355,815.33 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 0.00 153,541.67 0.00 54,475,174.89 A-2 0.00 0.00 152,013.89 0.00 24,761,443.13 A-3 0.00 0.00 343,750.00 0.00 74,284,329.40 A-4 0.00 0.00 468,856.67 0.00 101,319,863.47 M-1 0.00 0.00 56,533.69 0.00 18,576,034.64 M-2 0.00 0.00 53,354.30 0.00 16,945,741.22 M-3 0.00 0.00 20,885.24 0.00 6,517,211.83 B-1 0.00 0.00 23,032.88 0.00 6,517,211.83 B-2 0.00 0.00 24,904.21 0.00 6,843,072.42 B-3 0.00 0.00 22,991.47 0.00 5,865,490.65 B-4 0.00 0.00 35,951.31 0.00 7,495,784.07 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 7,992.76 0.00 100.00 C 0.00 0.00 373,971.29 0.00 325,905,382.44 Totals 0.00 0.00 1,737,779.38 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 55,000,000.00 4.02000% 1000.00000000 2.79166673 0.00000000 0.00000000 A-2 25,000,000.00 8.75600% 1000.00000000 6.08055560 0.00000000 0.00000000 A-3 75,000,000.00 5.50000% 1000.00000000 4.58333333 0.00000000 0.00000000 A-4 102,296,000.00 5.50000% 1000.00000000 4.58333337 0.00000000 0.00000000 M-1 18,755,000.00 4.34063% 1000.00000000 3.01432631 0.00000000 0.00000000 M-2 17,109,000.00 4.49063% 1000.00000000 3.11849319 0.00000000 0.00000000 M-3 6,580,000.00 4.57063% 1000.00000000 3.17404863 0.00000000 0.00000000 B-1 6,580,000.00 5.04063% 1000.00000000 3.50043769 0.00000000 0.00000000 B-2 6,909,000.00 5.19063% 1000.00000000 3.60460414 0.00000000 0.00000000 B-3 5,922,000.00 5.59063% 1000.00000000 3.88238264 0.00000000 0.00000000 B-4 7,568,000.00 6.84063% 1000.00000000 4.75043737 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 C 2,303,924.89 0.00000% 142809.78809166 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 2.79166673 0.00000000 990.45772527 A-2 0.00000000 0.00000000 6.08055560 0.00000000 990.45772520 A-3 0.00000000 0.00000000 4.58333333 0.00000000 990.45772533 A-4 0.00000000 0.00000000 4.58333337 0.00000000 990.45772533 M-1 0.00000000 0.00000000 3.01432631 0.00000000 990.45772541 M-2 0.00000000 0.00000000 3.11849319 0.00000000 990.45772517 M-3 0.00000000 0.00000000 3.17404863 0.00000000 990.45772492 B-1 0.00000000 0.00000000 3.50043769 0.00000000 990.45772492 B-2 0.00000000 0.00000000 3.60460414 0.00000000 990.45772471 B-3 0.00000000 0.00000000 3.88238264 0.00000000 990.45772543 B-4 0.00000000 0.00000000 4.75043737 0.00000000 990.45772595 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 79927.60000000 0.00000000 1000.00000000 C 0.00000000 0.00000000 162.31921953 0.00000000 141456.60036686 (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 4,843,347.19 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 85,633.47 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 4,928,980.66 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 76,840.80 Payment of Interest and Principal 4,855,421.83 Total Withdrawals (Pool Distribution Amount) 4,932,262.63 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 68,373.91 Master Servicing Fee 3,281.97 Misc. Fee 5,184.92 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 76,840.80
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Net WAC Reserve Fund 5,000.00 2,795.02 2,795.02 5,000.00 Class P Certificate Account 100.00 0.00 0.00 100.00
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 1 0 0 1 281,600.00 0.00 0.00 281,600.00 30 Days 38 0 0 0 38 12,829,609.57 0.00 0.00 0.00 12,829,609.57 60 Days 5 0 0 0 5 1,771,158.35 0.00 0.00 0.00 1,771,158.35 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 43 1 0 0 44 14,600,767.92 281,600.00 0.00 0.00 14,882,367.92 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 0.092937% 0.000000% 0.000000% 0.092937% 0.086594% 0.000000% 0.000000% 0.086594% 30 Days 3.531599% 0.000000% 0.000000% 0.000000% 3.531599% 3.945206% 0.000000% 0.000000% 0.000000% 3.945206% 60 Days 0.464684% 0.000000% 0.000000% 0.000000% 0.464684% 0.544645% 0.000000% 0.000000% 0.000000% 0.544645% 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 3.996283% 0.092937% 0.000000% 0.000000% 4.089219% 4.489851% 0.086594% 0.000000% 0.000000% 4.576445%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 85,633.47
REO Detail - All Mortgage Loans in REO during Current Period
Summary 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Nov-04 0.000% Original Principal Balance 0.00 Dec-04 0.000% Current Principal Balance 0.00 Jan-05 0.000% Feb-05 0.000% Current REO Total Mar-05 0.000% Loans in REO 0 Apr-05 0.000% Original Principal Balance 0.00 May-05 0.000% Current Principal Balance 0.00 Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% Sep-05 0.000% Oct-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.
REO Loan Detail - All Mortgage Loans in REO during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance No REO loans this period.
REO Loan Detail - All Mortgage Loans in REO during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No REO loans this period.
Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period
Summary 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Nov-04 0.000% Original Principal Balance 0.00 Dec-04 0.000% Current Principal Balance 0.00 Jan-05 0.000% Feb-05 0.000% Current Foreclosure Total Mar-05 0.000% Loans in Foreclosure 0 Apr-05 0.000% Original Principal Balance 0.00 May-05 0.000% Current Principal Balance 0.00 Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% Sep-05 0.000% Oct-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance No Foreclosure loans this period.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No Foreclosure loans this period.
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.589060% Weighted Average Net Coupon 6.339689% Weighted Average Pass-Through Rate 6.308809% Weighted Average Maturity(Stepdown Calculation) 357 Beginning Scheduled Collateral Loan Count 1,088 Number Of Loans Paid In Full 12 Ending Scheduled Collateral Loan Count 1,076 Beginning Scheduled Collateral Balance 329,023,124.89 Ending Scheduled Collateral Balance 325,905,382.44 Ending Actual Collateral Balance at 30-Sep-2005 325,194,960.49 Monthly P&I Constant 1,992,823.83 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 186,196.86 Unscheduled Principal 2,931,446.02
Pre-funding amount 828,247.00
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Coupon Rate 6.589060% Weighted Average Net Rate 6.339689% Weighted Average Pass Through Rate 6.308809% Weighted Average Maturity 357 Record Date 09/30/2005 Principal and Interest Constant 1,992,823.83 Beginning Loan Count 1,088 Loans Paid in Full 12 Ending Loan Count 1,076 Beginning Scheduled Balance 329,023,124.89 Ending Scheduled Balance 325,905,382.44 Ending Actual Balance at 30-Sep-2005 325,194,960.49 Scheduled Principal 186,196.86 Unscheduled Principal 2,931,446.02 Scheduled Interest 1,806,626.97 Servicing Fee 68,373.91 Master Servicing Fee 3,281.97 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 5,184.92 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 1,729,786.17 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Special Servicing Fee 0.00 Prepayment Penalties 0.00
Miscellaneous Reporting 3 Month Rolling Average Delinquency 0.005433% Extra Prin Distribution 376,766.31 Overcollateralization Amount 2,304,024.89 Target Overcollateralization 2,304,024.89 Yield Maintenance 0.00
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 Total 12 2,633,664.00 2,629,840.18 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 Total 0 0.00 0.00 0 0.00 0.00 303,402.21
Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Summary 0000424434 TX 85.00 01-Sep-2005 286,875.00 286,498.41 Summary 0000793830 FL 80.00 01-Jul-2005 199,200.00 198,456.09 Summary 0000795295 CA 70.44 01-Jul-2005 553,000.00 550,884.71 Summary 0000802418 FL 80.00 01-Aug-2005 400,000.00 398,855.45 Summary 0002292281 WA 80.00 01-Sep-2005 133,599.00 133,467.04 Summary 0002292352 WA 80.00 01-Sep-2005 133,599.00 133,467.04 Summary 0002292657 WA 80.00 01-Oct-2005 133,599.00 133,533.28 Summary 0002366093 NJ 80.00 01-Oct-2005 136,000.00 136,000.00 Summary 0002378327 VA 75.00 01-Aug-2005 221,250.00 220,790.19 Summary 0079826137 KY 90.00 01-Aug-2005 126,450.00 126,105.21 Summary 0905070527 OR 80.00 01-Sep-2005 224,592.00 224,592.00 Summary 1103428777 MO 90.00 01-Aug-2005 85,500.00 85,394.39
Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning Summary 0000424434 Loan Paid in Full 0 8.125% 360 1 Summary 0000793830 Loan Paid in Full 0 6.375% 360 3 Summary 0000795295 Loan Paid in Full 0 6.250% 360 3 Summary 0000802418 Loan Paid in Full 0 6.250% 360 2 Summary 0002292281 Loan Paid in Full 0 9.500% 360 1 Summary 0002292352 Loan Paid in Full 0 9.500% 360 1 Summary 0002292657 Loan Paid in Full 0 9.500% 360 0 Summary 0002366093 Loan Paid in Full 0 8.500% 360 0 Summary 0002378327 Loan Paid in Full 0 7.875% 360 2 Summary 0079826137 Loan Paid in Full 0 6.500% 360 2 Summary 0905070527 Loan Paid in Full 0 7.375% 360 1 Summary 1103428777 Loan Paid in Full 0 10.375% 360 2
Prepayment - Voluntary Prepayments
Summary SMM CPR PSA Current Month 0.894% Current Month 10.213% Current Month 3,509.635% 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 10.213% N/A Oct-2005 3,509.635% 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 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. 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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