8-K 1 efc5-1371_5706330form8k.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): May 25, 2005 GS Mortgage Securities Corp. (as depositor for the GSAA Home Equity Trust 2005-5 formed pursuant to a Trust Agreement, relating to the GSAA Home Equity Trust 2005-5, Asset-Backed Certificates, Series 2005-5) ------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 333-120274 13-3387389 -------- ---------------------------- ------------------------ ------------------- (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 85 Broad Street, New York, New York 10004 -------------------------------------------------------- ------------------- (Address of Principal Executive Offices) (Zip Code) (212) 902-1000 ---------------------------------------------------- (Registrant's Telephone Number, Including Area Code) ------------------------------------------------------------------------------- Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any 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)) Section 8 Other Events. --------- ------------- Item 8.01. Other Events. ---------- ------------- On May 25, 2005, GS Mortgage Securities Corp. (the "Company") caused the issuance, pursuant to a Trust Agreement, dated as of April 1, 2005 (the "Trust Agreement"), among the Company, as depositor, Wells Fargo Bank, N.A., as custodian, Wells Fargo Bank, N.A., as securities administrator and HSBC Bank USA, National Association, as trustee, of GSAA Home Equity Trust 2005-5, Asset-Backed Certificates, Series 2005-5 (the "Certificates"), issued in thirteen classes. The Class A-1, Class A-2, Class A-3, Class A-4, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3, Class R-1 and Class R-2 Certificates, with an aggregate scheduled principal balance as of March 1, 2005 of $721,787,600 were sold to Goldman, Sachs & Co. (the "Underwriter"), pursuant to an Underwriting Agreement dated as of April 22, 2005, by and between the Company and the Underwriter. The Trust Agreement is annexed hereto as Exhibit 4. Capitalized terms used herein and not defined herein have the same meanings ascribed to such terms in the Trust Agreement. Section 9 Financial Statements and Exhibits. --------- ---------------------------------- Item 9.01 Financial Statements and Exhibits. --------- ---------------------------------- (a) Financial statements of businesses acquired: -------------------------------------------- Not applicable. (b) Pro forma financial information: -------------------------------- Not applicable. (c) Exhibits: Page: ------------------------------------------------------------------------- Exhibit 4 Trust Agreement, dated as of April 1, 2005, among GS Mortgage Securities Corp., as depositor, Wells Fargo Bank, N.A., as custodian, Wells Fargo Bank, N.A., as securities administrator and HSBC Bank USA, National Association, as trustee 4 SIGNATURES 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, thereunto duly authorized. Date: May 25, 2005 GS MORTGAGE SECURITIES CORP. By: /s/ Michelle Gill ---------------------------- Name: Michelle Gill Title: Vice President Exhibit Index ------------- Exhibit Index -------------

GSItem ~~Mortgage~~601(a) ~~Securities~~of ~~Corp~~Description ~~Asset~~Paper Backed Securities Record Date: 4/29/2005 Distribution Date: 5/25/2005 GS Mortgage Securities Corp Asset Backed Securities Series GSAA Home Equity Trust 2005-5 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (~~301~~P) ~~815-6600~~or ~~Fax:~~Electronic (~~301~~E) ~~815~~-~~6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass~~-~~Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A~~-~~1 36242DR39 SEN 3.15000% 392,187,000.00 926,541.79 21,496,848.08 A~~-~~2 36242DR47 SEN 3.24000% 91,518,000.00 222,388.74 0.00 A~~-~~3 36242DR54 SEN 3.36000% 77,000,000.00 194,040.00 0.00 A~~-~~4 36242DT29 SEN 3.33000% 59,755,000.00 149,238.11 0.00 M~~-1-------- ~~36242DR62 MEZ 3.47000% 27,234,000.00 70,876.49 0.00 M~~-2---------- ~~36242DR70 MEZ 3.49000% 17,807,000.00 46,609.82 0.00 M~~-3-------------------------- ~~36242DR88~~Regulation ~~MEZ 3.69000% 15,712,000.00 43,482.96 0.00 M~~S-4K ~~36242DR96 MEZ 3.75000% 3,491,000.00 9,818.44 0.00 B~~-1------------- ~~36242DS20 JUN~~ 4~~.21000%~~ ~~3,491,000.00~~Trust 11Agreement,~~022.83~~ ~~0.00~~dated ~~B-2~~as ~~36242DS38~~of ~~JUN~~April ~~4.31000% 3~~1,~~491,000.00~~ 112005,~~284.66~~ ~~0.00~~E ~~B-3~~among ~~36242DS46~~GS ~~JUN~~Mortgage ~~4.76000%~~Securities ~~3,491,000~~Corp.~~00 12~~,~~462.87~~ ~~0.00~~as Xdepositor, ~~36242DS79~~Wells ~~SEN~~Fargo ~~0.00000% 3~~Bank,~~146,729.98~~ ~~1,790,531~~N.~~13 0~~A.00, Pas ~~36242DS87~~custodian, ~~SEN~~Wells ~~0.00000%~~Fargo ~~0.01 109~~Bank,~~890.45~~ 0N.~~00 R-1 36242DS53 SEN 0~~A.~~00000%~~, ~~100.00~~as ~~0.00~~securities ~~100.00~~administrator ~~R-2~~and ~~36242DS61~~HSBC ~~SEN~~Bank ~~0.00000%~~USA, ~~100.00~~National ~~0.00 100.00 Totals 698~~Association,~~323,929.99~~ ~~3,598,188.29~~as ~~21,497,048.08~~trustee

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 370,690,151.91 22,423,389.87 0.00 A-2 0.00 91,518,000.00 222,388.74 0.00 A-3 0.00 77,000,000.00 194,040.00 0.00 A-4 0.00 59,755,000.00 149,238.11 0.00 M-1 0.00 27,234,000.00 70,876.49 0.00 M-2 0.00 17,807,000.00 46,609.82 0.00 M-3 0.00 15,712,000.00 43,482.96 0.00 M-4 0.00 3,491,000.00 9,818.44 0.00 B-1 0.00 3,491,000.00 11,022.83 0.00 B-2 0.00 3,491,000.00 11,284.66 0.00 B-3 0.00 3,491,000.00 12,462.87 0.00 X 0.00 3,142,458.13 1,790,531.13 0.00 P 0.00 0.01 109,890.45 0.00 R-1 0.00 0.00 100.00 0.00 R-2 0.00 0.00 100.00 0.00 Totals 0.00 676,822,610.05 25,095,236.37 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-1 392,187,000.00 392,187,000.00 0.00 21,496,848.08 0.00 0.00 A-2 91,518,000.00 91,518,000.00 0.00 0.00 0.00 0.00 A-3 77,000,000.00 77,000,000.00 0.00 0.00 0.00 0.00 A-4 59,755,000.00 59,755,000.00 0.00 0.00 0.00 0.00 M-1 27,234,000.00 27,234,000.00 0.00 0.00 0.00 0.00 M-2 17,807,000.00 17,807,000.00 0.00 0.00 0.00 0.00 M-3 15,712,000.00 15,712,000.00 0.00 0.00 0.00 0.00 M-4 3,491,000.00 3,491,000.00 0.00 0.00 0.00 0.00 B-1 3,491,000.00 3,491,000.00 0.00 0.00 0.00 0.00 B-2 3,491,000.00 3,491,000.00 0.00 0.00 0.00 0.00 B-3 3,491,000.00 3,491,000.00 0.00 0.00 0.00 0.00 X 3,146,729.98 3,146,729.98 0.00 0.00 0.00 0.00 P 0.01 0.01 0.00 0.00 0.00 0.00 R-1 100.00 100.00 0.00 100.00 0.00 0.00 R-2 100.00 100.00 0.00 100.00 0.00 0.00 Totals 698,323,929.99 698,323,929.99 0.00 21,497,048.08 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 21,496,848.08 370,690,151.91 0.94518725 21,496,848.08 A-2 0.00 91,518,000.00 1.00000000 0.00 A-3 0.00 77,000,000.00 1.00000000 0.00 A-4 0.00 59,755,000.00 1.00000000 0.00 M-1 0.00 27,234,000.00 1.00000000 0.00 M-2 0.00 17,807,000.00 1.00000000 0.00 M-3 0.00 15,712,000.00 1.00000000 0.00 M-4 0.00 3,491,000.00 1.00000000 0.00 B-1 0.00 3,491,000.00 1.00000000 0.00 B-2 0.00 3,491,000.00 1.00000000 0.00 B-3 0.00 3,491,000.00 1.00000000 0.00 X 0.00 3,142,458.13 0.99864245 0.00 P 0.00 0.01 1.00000000 0.00 R-1 100.00 0.00 0.00000000 100.00 R-2 100.00 0.00 0.00000000 100.00 Totals 21,497,048.08 676,822,610.05 0.96921011 21,497,048.08

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 392,187,000.00 1000.00000000 0.00000000 54.81275024 0.00000000 A-2 91,518,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 77,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 59,755,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 27,234,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 17,807,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 15,712,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 3,491,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 3,491,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 3,491,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 3,491,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 3,146,729.98 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.01 0.00000000 0.00000000 0.00000000 0.00000000 R-1 100.00 1000.00000000 0.00000000 1000.00000000 0.00000000 R-2 100.00 1000.00000000 0.00000000 1000.00000000 0.00000000 (2) All Classes are per $1,000 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 54.81275024 945.18724973 0.94518725 54.81275024 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 998.64244787 0.99864245 0.00000000 P 0.00000000 0.00000000 0.00000000 1.00000000 0.00000000 R-1 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000 R-2 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000 (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-1 392,187,000.00 3.15000% 392,187,000.00 926,541.79 0.00 0.00 A-2 91,518,000.00 3.24000% 91,518,000.00 222,388.74 0.00 0.00 A-3 77,000,000.00 3.36000% 77,000,000.00 194,040.00 0.00 0.00 A-4 59,755,000.00 3.33000% 59,755,000.00 149,238.11 0.00 0.00 M-1 27,234,000.00 3.47000% 27,234,000.00 70,876.49 0.00 0.00 M-2 17,807,000.00 3.49000% 17,807,000.00 46,609.82 0.00 0.00 M-3 15,712,000.00 3.69000% 15,712,000.00 43,482.96 0.00 0.00 M-4 3,491,000.00 3.75000% 3,491,000.00 9,818.44 0.00 0.00 B-1 3,491,000.00 4.21000% 3,491,000.00 11,022.83 0.00 0.00 B-2 3,491,000.00 4.31000% 3,491,000.00 11,284.66 0.00 0.00 B-3 3,491,000.00 4.76000% 3,491,000.00 12,462.87 0.00 0.00 X 3,146,729.98 0.00000% 698,324,029.98 0.00 0.00 0.00 P 0.01 0.00000% 0.01 0.00 0.00 0.00 R-1 100.00 0.00000% 100.00 0.00 0.00 0.00 R-2 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 698,323,929.99 1,697,766.71 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 0.00 926,541.79 0.00 370,690,151.91 A-2 0.00 0.00 222,388.74 0.00 91,518,000.00 A-3 0.00 0.00 194,040.00 0.00 77,000,000.00 A-4 0.00 0.00 149,238.11 0.00 59,755,000.00 M-1 0.00 0.00 70,876.49 0.00 27,234,000.00 M-2 0.00 0.00 46,609.82 0.00 17,807,000.00 M-3 0.00 0.00 43,482.96 0.00 15,712,000.00 M-4 0.00 0.00 9,818.44 0.00 3,491,000.00 B-1 0.00 0.00 11,022.83 0.00 3,491,000.00 B-2 0.00 0.00 11,284.66 0.00 3,491,000.00 B-3 0.00 0.00 12,462.87 0.00 3,491,000.00 X 0.00 0.00 1,790,531.13 0.00 676,822,610.05 P 0.00 0.00 109,890.45 0.00 0.01 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 3,598,188.29 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-1 392,187,000.00 3.15000% 1000.00000000 2.36250001 0.00000000 0.00000000 A-2 91,518,000.00 3.24000% 1000.00000000 2.43000000 0.00000000 0.00000000 A-3 77,000,000.00 3.36000% 1000.00000000 2.52000000 0.00000000 0.00000000 A-4 59,755,000.00 3.33000% 1000.00000000 2.49749996 0.00000000 0.00000000 M-1 27,234,000.00 3.47000% 1000.00000000 2.60250018 0.00000000 0.00000000 M-2 17,807,000.00 3.49000% 1000.00000000 2.61749986 0.00000000 0.00000000 M-3 15,712,000.00 3.69000% 1000.00000000 2.76750000 0.00000000 0.00000000 M-4 3,491,000.00 3.75000% 1000.00000000 2.81250072 0.00000000 0.00000000 B-1 3,491,000.00 4.21000% 1000.00000000 3.15749928 0.00000000 0.00000000 B-2 3,491,000.00 4.31000% 1000.00000000 3.23250072 0.00000000 0.00000000 B-3 3,491,000.00 4.76000% 1000.00000000 3.57000000 0.00000000 0.00000000 X 3,146,729.98 0.00000% 221920.54431693 0.00000000 0.00000000 0.00000000 P 0.01 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-1 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-2 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 2.36250001 0.00000000 945.18724973 A-2 0.00000000 0.00000000 2.43000000 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 2.52000000 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 2.49749996 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 2.60250018 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.61749986 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.76750000 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 2.81250072 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 3.15749928 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.23250072 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 3.57000000 0.00000000 1000.00000000 X 0.00000000 0.00000000 569.01327454 0.00000000 215087.60343333 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Certificateholder Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage A-4 3.33000% 0.00 0.00 18,910,000.00 18,910,000.00 100.00000000% A-4 3.33000% 0.00 0.00 40,845,000.00 40,845,000.00 100.00000000%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 25,205,899.75 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 109,890.45 Total Deposits 25,315,790.20 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 220,553.83 Payment of Interest and Principal 25,095,236.37 Total Withdrawals (Pool Distribution Amount) 25,315,790.20 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 218,226.19 Securities Administration Fee 2,327.64 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 220,553.83

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 DELINQUENCY STATUS 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 17 0 0 0 17 3,608,230.35 0.00 0.00 0.00 3,608,230.35 60 Days 6 0 0 0 6 923,468.41 0.00 0.00 0.00 923,468.41 90 Days 1 0 0 0 1 278,478.96 0.00 0.00 0.00 278,478.96 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 24 0 0 0 24 4,810,177.72 0.00 0.00 0.00 4,810,177.72 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 0.538998% 0.000000% 0.000000% 0.000000% 0.538998% 0.533113% 0.000000% 0.000000% 0.000000% 0.533113% 60 Days 0.190235% 0.000000% 0.000000% 0.000000% 0.190235% 0.136442% 0.000000% 0.000000% 0.000000% 0.136442% 90 Days 0.031706% 0.000000% 0.000000% 0.000000% 0.031706% 0.041145% 0.000000% 0.000000% 0.000000% 0.041145% 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 0.760938% 0.000000% 0.000000% 0.000000% 0.760938% 0.710700% 0.000000% 0.000000% 0.000000% 0.710700%

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 ARM Weighted Average Gross Coupon 6.365778% Weighted Average Net Coupon 5.990778% Weighted Average Pass-Through Rate 5.986778% Weighted Average Maturity(Stepdown Calculation ) 355 Beginning Scheduled Collateral Loan Count 3,233 Number Of Loans Paid In Full 79 Ending Scheduled Collateral Loan Count 3,154 Beginning Scheduled Collateral Balance 698,324,029.99 Ending Scheduled Collateral Balance 676,822,610.05 Ending Actual Collateral Balance at 29-Apr-2005 676,822,610.05 Monthly P &I Constant 4,359,451.17 Special Servicing Fee 0.00 Prepayment Penalties 109,890.45 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 654,971.32 Unscheduled Principal 20,846,448.61 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 4,571.85 Specified O/C Amount 3,142,458.13 Overcollateralized Amount 3,142,458.13 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 1,786,159.29

Filing Compare · GS Mortgage Securities Corp., Asset-Backed Certificates, Series 2005-5