-----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, Je5J+T4yqIJVzmPPjSUdKzIBPhsaKpK+8/Tq0nKGe+OZVy0YGMvUIHIOsIQdYDvo wzui7Qrkm/wdDS/t12HfYg== 0001056404-06-000424.txt : 20060117 0001056404-06-000424.hdr.sgml : 20060116 20060117153943 ACCESSION NUMBER: 0001056404-06-000424 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20051025 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060117 DATE AS OF CHANGE: 20060117 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/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-125422-20 FILM NUMBER: 06532953 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/A 1 bsa05ac7_8ka-200510.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K/A 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 (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 Subsequent to filing the 8-K relating to the payment date on October 25, 2005, a revision was made to the Bear Stearns Asset Backed Securities I Trust, Asset Backed Certificates, Series 2005-AC7 which was not included in the original 8-K filed. The 8-K is being amended to change the OC class ending balance by $100.00 in order to match beginning OC balance as it should according to DOCs. This revision was not previously disclosed in a 1934 Act filing. The revised data has been and will continue to be available on the Wells Fargo Bank, website at www.ctslink.com. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Amended 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: 1/16/2006 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Amended 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 Class CUSIP Certificate Beginning Interest Pass-Through Certificate Distribution Rate Balance A-1 073879T24 4.02000% 55,000,000.00 153,541.67 A-2 073879T32 8.75600% 25,000,000.00 152,013.89 A-3 073879T40 5.50000% 75,000,000.00 343,750.00 A-4 073879T57 5.50000% 102,296,000.00 468,856.67 M-1 073879T65 4.34063% 18,755,000.00 56,533.69 M-2 073879T73 4.49063% 17,109,000.00 53,354.30 M-3 073879T81 4.57063% 6,580,000.00 20,885.24 B-1 073879T99 5.04063% 6,580,000.00 23,032.88 B-2 073879U22 5.19063% 6,909,000.00 24,904.21 B-3 073879U30 5.59063% 5,922,000.00 22,991.47 B-4 073879U63 6.84063% 7,568,000.00 35,951.31 R-1 073879U71 0.00000% 0.00 0.00 R-2 073879U89 0.00000% 0.00 0.00 P 073879U55 0.00000% 100.00 7,992.76 C 073879U48 0.00000% 2,304,024.89 373,971.29 Totals 329,023,124.89 1,737,779.38
Certificateholder Distribution Summary (continued) Class Principal Current Ending Total Cummulative Distribution Realized Certificate Distribution Realized Loss Balance 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 2,304,024.89 373,971.29 0.00 Totals 3,117,642.45 0.00 325,905,482.44 4,855,421.83 0.00
Principal Distribution Statement Class Original Beginning Scheduled UnScheduled Accretion Realized Face Certificate Principal Principal Loss Amount Balance Distribution Distribution 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 2,304,024.89 2,304,024.89 0.00 0.00 0.00 0.00 Totals 329,023,124.89 329,023,124.89 0.00 3,117,642.45 0.00 0.00
Principal Distribution Statement (continued) Class Total Ending Ending Total Principal Certificate Certificate Principal Reduction Balance Percentage Distribution A-1 524,825.11 54,475,174.89 0.990458 524,825.11 A-2 238,556.87 24,761,443.13 0.990458 238,556.87 A-3 715,670.60 74,284,329.40 0.990458 715,670.60 A-4 976,136.53 101,319,863.47 0.990458 976,136.53 M-1 178,965.36 18,576,034.64 0.990458 178,965.36 M-2 163,258.78 16,945,741.22 0.990458 163,258.78 M-3 62,788.17 6,517,211.83 0.990458 62,788.17 B-1 62,788.17 6,517,211.83 0.990458 62,788.17 B-2 65,927.58 6,843,072.42 0.990458 65,927.58 B-3 56,509.35 5,865,490.65 0.990458 56,509.35 B-4 72,215.93 7,495,784.07 0.990458 72,215.93 R-1 0.00 0.00 0.000000 0.00 R-2 0.00 0.00 0.000000 0.00 P 0.00 100.00 1.000000 0.00 C 0.00 2,304,024.89 1.000000 0.00 Totals 3,117,642.45 325,905,482.44 0.990525 3,117,642.45
Principal Distribution Factors Statement Class Original Beginning Scheduled UnScheduled Accretion Face Certificate Principal Principal Amount Balance Distribution Distribution A-1 55,000,000.00 1000.000000 0.000000 9.542275 0.000000 A-2 25,000,000.00 1000.000000 0.000000 9.542275 0.000000 A-3 75,000,000.00 1000.000000 0.000000 9.542275 0.000000 A-4 102,296,000.00 1000.000000 0.000000 9.542275 0.000000 M-1 18,755,000.00 1000.000000 0.000000 9.542275 0.000000 M-2 17,109,000.00 1000.000000 0.000000 9.542275 0.000000 M-3 6,580,000.00 1000.000000 0.000000 9.542275 0.000000 B-1 6,580,000.00 1000.000000 0.000000 9.542275 0.000000 B-2 6,909,000.00 1000.000000 0.000000 9.542275 0.000000 B-3 5,922,000.00 1000.000000 0.000000 9.542275 0.000000 B-4 7,568,000.00 1000.000000 0.000000 9.542274 0.000000 R-1 0.00 0.000000 0.000000 0.000000 0.000000 R-2 0.00 0.000000 0.000000 0.000000 0.000000 P 100.00 1000.000000 0.000000 0.000000 0.000000 C 2,304,024.89 1000.000000 0.000000 0.000000 0.000000
Principal Distribution Factors Statement (continued) Class Realized Total Ending Ending Total Loss Principal Certificate Certificate Principal Reduction Balance Percentage Distribution A-1 0.000000 9.542275 990.457725 0.990458 9.542275 A-2 0.000000 9.542275 990.457725 0.990458 9.542275 A-3 0.000000 9.542275 990.457725 0.990458 9.542275 A-4 0.000000 9.542275 990.457725 0.990458 9.542275 M-1 0.000000 9.542275 990.457725 0.990458 9.542275 M-2 0.000000 9.542275 990.457725 0.990458 9.542275 M-3 0.000000 9.542275 990.457725 0.990458 9.542275 B-1 0.000000 9.542275 990.457725 0.990458 9.542275 B-2 0.000000 9.542275 990.457725 0.990458 9.542275 B-3 0.000000 9.542275 990.457725 0.990458 9.542275 B-4 0.000000 9.542274 990.457726 0.990458 9.542274 R-1 0.000000 0.000000 0.000000 0.000000 0.000000 R-2 0.000000 0.000000 0.000000 0.000000 0.000000 P 0.000000 0.000000 1,000.000000 1.000000 0.000000 C 0.000000 0.000000 1,000.000000 1.000000 0.000000
Interest Distribution Statement Class Accrual Accrual Current Beginning Current Payment of Dates Days Certificate Certificate/ Accrued Unpaid Interest Rate Notional Balance Interest Shortfall A-1 ** ** 4.02000% 55,000,000.00 153,541.67 0.00 A-2 ** ** 8.75600% 25,000,000.00 152,013.89 0.00 A-3 ** ** 5.50000% 75,000,000.00 343,750.00 0.00 A-4 ** ** 5.50000% 102,296,000.00 468,856.67 0.00 M-1 ** ** 4.34063% 18,755,000.00 56,533.69 0.00 M-2 ** ** 4.49063% 17,109,000.00 53,354.30 0.00 M-3 ** ** 4.57063% 6,580,000.00 20,885.24 0.00 B-1 ** ** 5.04063% 6,580,000.00 23,032.88 0.00 B-2 ** ** 5.19063% 6,909,000.00 24,904.21 0.00 B-3 ** ** 5.59063% 5,922,000.00 22,991.47 0.00 B-4 ** ** 6.84063% 7,568,000.00 35,951.31 0.00 R-1 ** ** 0.00000% 0.00 0.00 0.00 R-2 ** ** 0.00000% 0.00 0.00 0.00 P ** ** 0.00000% 100.00 0.00 0.00 C ** ** 0.00000% 329,023,025.32 0.00 0.00 Totals 1,355,815.33 0.00
Interest Distribution Statement (continued) Class Current Non-Supported Total Remaining Ending Interest Interest Interest Unpaid Interest Certificate/Notional Shortfall(1) Shortfall Distribution Shortfall(2) 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 (1,2) Amount also includes coupon cap or basis risk shortfalls,if applicable ** For distribution dates prior to December 1, 2005 this information was not available for reporting purposes.
Interest Distribution Factors Statement Class Accrual Original Current Beginning Current Payment of Dates Face Certificate Certificate/Notional Accrued Unpaid Interest Amount Rate Balance Interest Shortfall A-1 ** 55,000,000.00 4.02000% 1000.000000 2.791667 0.000000 A-2 ** 25,000,000.00 8.75600% 1000.000000 6.080556 0.000000 A-3 ** 75,000,000.00 5.50000% 1000.000000 4.583333 0.000000 A-4 ** 102,296,000.00 5.50000% 1000.000000 4.583333 0.000000 M-1 ** 18,755,000.00 4.34063% 1000.000000 3.014326 0.000000 M-2 ** 17,109,000.00 4.49063% 1000.000000 3.118493 0.000000 M-3 ** 6,580,000.00 4.57063% 1000.000000 3.174049 0.000000 B-1 ** 6,580,000.00 5.04063% 1000.000000 3.500438 0.000000 B-2 ** 6,909,000.00 5.19063% 1000.000000 3.604604 0.000000 B-3 ** 5,922,000.00 5.59063% 1000.000000 3.882383 0.000000 B-4 ** 7,568,000.00 6.84063% 1000.000000 4.750437 0.000000 R-1 ** 0.00 0.00000% 0.000000 0.000000 0.000000 R-2 ** 0.00 0.00000% 0.000000 0.000000 0.000000 P ** 100.00 0.00000% 1000.000000 0.000000 0.000000 C ** 2,304,024.89 0.00000% 142803.589817 0.000000 0.000000
Interest Distribution Factors Statement (continued) Class Current Non-Supported Total Remaining Unpaid Ending Interest Interest Interest Interest Certificate/ Shortfall(1) Shortfall Distribution Shortfall(2) Notional Balance A-1 0.000000 0.000000 2.791667 0.000000 990.457725 A-2 0.000000 0.000000 6.080556 0.000000 990.457725 A-3 0.000000 0.000000 4.583333 0.000000 990.457725 A-4 0.000000 0.000000 4.583333 0.000000 990.457725 M-1 0.000000 0.000000 3.014326 0.000000 990.457725 M-2 0.000000 0.000000 3.118493 0.000000 990.457725 M-3 0.000000 0.000000 3.174049 0.000000 990.457725 B-1 0.000000 0.000000 3.500438 0.000000 990.457725 B-2 0.000000 0.000000 3.604604 0.000000 990.457725 B-3 0.000000 0.000000 3.882383 0.000000 990.457725 B-4 0.000000 0.000000 4.750437 0.000000 990.457726 R-1 0.000000 0.000000 0.000000 0.000000 0.000000 R-2 0.000000 0.000000 0.000000 0.000000 0.000000 P 0.000000 0.000000 79927.600000 0.000000 1000.000000 C 0.000000 0.000000 162.312175 0.000000 141450.460824 (1,2) Amount also includes coupon cap or basis risk shortfalls,if applicable. Per $1 denomination. ** For distribution dates prior to December 1, 2005 this information was not available for reporting purposes.
Certificateholder Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 4,843,347.19 Reserve Funds and Credit Enhancements 0.00 Proceeds from Repurchased Loans 0.00 Servicer Advances 85,633.47 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Swap/Cap Payments 0.00 Total Deposits 4,928,980.66 Withdrawals Swap Payments 0.00 Reserve Funds and Credit Enhancements 0.00 Reimbursement for Servicer Advances 0.00 Total Administration Fees 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
ADMINISTRATION 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 Total Administration Fees 76,840.80
Reserve Accounts Account Name Beginning Current Withdrawals Current Deposits Ending Balance Balance Net WAC Reserve Fund 5,000.00 2,795.02 2,795.02 5,000.00 Class P Certificate 100.00 0.00 0.00 100.00 Account
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 Remaining Term 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 328,194,778.32 Ending Scheduled Collateral Balance 325,077,135.44 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 Penalty Waived Amount 0.00 Prepayment Penalty Waived Count 0 Prepayment Penalty Paid Amount 0.00 Prepayment Penalty Paid Count 0 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 186,196.86 Unscheduled Principal 2,931,446.02
Additional Reporting - Deal Level 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
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.
Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period
12 Month Bankruptcy History* Month Bankruptcy Percentage N/A
Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period Group Loan Month Loan First State LTV at Original Number Entered Payment Origination Principal Bankruptcy Date Balance No Bankruptcy Loans this Period
Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period (continued) Group Loan Current Paid To Months Current Approximate Number Principal Date Delinquent Loan Rate Delinquent Balance Interest No Bankruptcy Loans this Period
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 www. monthly bond remittance report can be viewed online at 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 www. monthly bond remittance report can be viewed online at 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)
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))
Modifications Loan Beginning Current Prior Modified Prior Modified Number Balance Balance Rate Rate Payment Payment No Modifications this Period
Substitutions Loans Repurchased Loans Substituted Loan Current Current Current Loan Current Current Current Number Balance Rate Payment Number Balance Rate Payment No Substitutions this Period
Repurchases Loan Current Current Current Number Balance Rate Payment No Repurchases this Period
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