8-K 1 eight-k.txt EIGHT-K.TXT 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 -July 25, 2005 (Date of Earliest Event Reported) POPULAR ABS, INC. ------------------------------------------------------ ------------------ (as depositor under a certain Pooling and Servicing Agreement dated as of December 31, 2004, providing for the issuance of Mortgage Pass-Through Certificates, Series 2005-1) (Exact Name of Registrant as specified in its charter) Delaware 333-115371-03 52-2029487 ------------------------ ---------------------- ----------------------- (State of Incorporation) (Commission File No.) (IRS Employer I.D. No.) 103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803 ----------------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (302) 478-6160 Item 8.01. Other Events. --------------------------- Attached hereto as Annex A is a copy of the Statement to Certificateholders sent to Class AF-1, AF-2, AF-3, AF-4, AF-5, AF-6, AV-1A, AV-1B, AV-2, M-1, M-2, M-3, M-4, B-1 and B-2 Certificateholders with respect to the July 25, 2005 Distribution Date. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. POPULAR ABS, INC. By: /s/ James H. Jenkins _____________________________ James H. Jenkins, Executive Vice President and CFO Dated: July 27, 2005 3 Page 1 of 11 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-1 STATEMENT TO CERTIFICATEHOLDERS JULY 25, 2005 --------------------------------------------------------------------------------

DISTRIBUTION IN DOLLARS ------------------------------------------------------------------------------------------------------------------------------------ CLASS ORIGINAL BEGINNING ~~ENDING~~PRINCIPAL ~~FACE~~INTEREST ~~PRINCIPAL~~TOTAL REALIZED DEFERRED ~~PRINCIPAL~~ENDING ~~CLASS~~FACE VALUE ~~BALANCE~~ PRINCIPAL ~~INTEREST TOTAL~~ LOSSES INTEREST PRINCIPAL BALANCE BALANCE ------ --------------- --------------- --------------- ------------- ------------- ------------ ------------ ------------------------------- AF1 136,000,000.00 ~~118~~111,~~506~~284,~~682~~555.1084 79,~~222~~247,~~126~~568.2656 ~~348~~297,~~705~~229.9155 79,~~570~~544,~~832~~798.1711 0.00 0.00 ~~111~~102,~~284~~036,~~555~~987.8428 AF2 31,000,000.00 31,000,000.00 0.00 101,~~111~~100.6778 101,~~111~~100.6778 0.00 0.00 31,000,000.00 AF3 41,000,000.00 41,000,000.00 0.00 141,~~518~~503.3309 141,~~518~~503.3309 0.00 0.00 41,000,000.00 AF4 35,000,000.00 35,000,000.00 0.00 134,~~400~~385.0052 134,~~400~~385.0052 0.00 0.00 35,000,000.00 AF5 10,060,000.00 10,060,000.00 0.00 43,~~853~~848.2250 43,~~853~~848.2250 0.00 0.00 10,060,000.00 AF6 15,000,000.00 15,000,000.00 0.00 57,~~725~~718.0078 57,~~725~~718.0078 0.00 0.00 15,000,000.00 AV1A 152,800,000.00 ~~144~~140,~~479~~624,~~865~~495.0621 35,~~855~~111,~~369~~887.8513 ~~442~~389,~~349~~810.1967 45,~~297~~501,~~719~~697.0480 0.00 0.00 ~~140~~135,~~624~~512,~~495~~608.2108 AV1B 38,200,000.00 3635,~~119~~156,~~966~~123.2781 ~~963~~1,~~842~~277,971.4678 ~~113~~100,~~898~~186.2974 1,~~077~~378,~~740~~158.7552 0.00 0.00 3533,~~156~~878,~~123~~152.8103 AV2 45,000,000.00 3936,~~354~~820,~~135~~730.7921 21,~~533~~743,~~405~~734.5899 ~~121~~102,~~210~~639.7465 21,~~654~~846,~~616~~374.3264 0.00 0.00 3635,~~820~~076,~~730~~995.2122 M1 44,060,000.00 44,060,000.00 0.00 189,~~458~~437.0059 189,~~458~~437.0059 0.00 0.00 44,060,000.00 M2 34,380,000.00 34,380,000.00 0.00 157,~~775~~758.5556 157,~~775~~758.5556 0.00 0.00 34,380,000.00 M3 9,690,000.00 9,690,000.00 0.00 45,~~260~~255.3851 45,~~260~~255.3851 0.00 0.00 9,690,000.00 M4 9,060,000.00 9,060,000.00 0.00 43,~~035~~030.0036 43,~~035~~030.0036 0.00 0.00 9,060,000.00 B1 6,250,000.00 6,250,000.00 0.00 2623,~~239~~352.5811 2623,~~239~~352.5811 0.00 0.00 6,250,000.00 B2 5,000,000.00 5,000,000.00 0.00 2320,~~283~~625.3392 2320,~~283~~625.3392 0.00 0.00 5,000,000.00 B3 6,250,000.00 6,250,000.00 0.00 3631,~~322~~906.9296 3631,~~322~~906.9296 0.00 0.00 6,250,000.00 B4 6,250,000.00 6,250,000.00 0.00 3733,~~755~~122.2124 3733,~~755~~122.2124 0.00 0.00 6,250,000.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 --------------- --------------- --------------- ------------- ------------- ------------ ------------ ------------------------------------- TOTALS 625,000,000.00 ~~591~~576,~~460~~885,~~649~~905.2207 1417,~~574~~381,~~744~~162.1546 21,~~063~~912,~~902~~912.3253 1619,~~638~~294,~~646~~074.4799 0.00 0.00 ~~576~~559,~~885~~504,~~905~~742.0761 --------------- --------------- --------------- ------------- ------------- ------------ ------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ X 489,836,905.25 ~~596~~583,~~714~~356,~~380~~221.2441 0.00 22.1443 22.1443 0.00 0.00 ~~583~~567,~~356~~274,~~221~~497.4169 ------------------------------------------------------------------------------------------------------------------------------------

FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES ------------------------------------------------------------------------------------------------------ ------------------------- ~~CURRENT BEGINNING ENDING PASS~~-~~THRU~~ CLASS CUSIP ~~PRINCIPAL~~BEGINNING PRINCIPAL INTEREST TOTAL ~~PRINCIPAL~~ENDING CLASS CURRENT PASS- PRINCIPAL PRINCIPAL THRU RATE ------ ------------ --------------- --------------- --------------- ------------- -------------- ---------- -------------------------- AF1 73316PBH2 ~~871~~818.~~37266250~~26879294 5367.~~10386956~~99682765 2.~~56401404~~18551140 5570.~~66788360~~18233904 ~~818~~750.~~26879294~~27196529 AF1 3.~~210000~~434380 % AF2 73316PBJ8 1,000.00000000 0.00000000 3.~~26166677~~26131548 3.~~26166677~~26131548 1,000.00000000 AF2 3.914000 % AF3 73316PBK5 1,000.00000000 0.00000000 3.~~45166659~~45129488 3.~~45166659~~45129488 1,000.00000000 AF3 4.142000 % AF4 73316PBL3 1,000.00000000 0.00000000 3.~~84000000~~83958629 3.~~84000000~~83958629 1,000.00000000 AF4 4.608000 % AF5 73316PBM1 1,000.00000000 0.00000000 4.~~35916700~~35869781 4.~~35916700~~35869781 1,000.00000000 AF5 5.231000 % AF6 73316PBN9 1,000.00000000 0.00000000 3.~~84833333~~84791867 3.~~84833333~~84791867 1,000.00000000 AF6 4.618000 % AV1A 73316PBP4 ~~945~~920.~~54885510~~31737703 2533.~~23147808~~45475870 2.~~89495543~~55111695 2836.~~12643351~~00587565 ~~920~~886.~~31737703~~86261832 AV1A 3.~~340000~~564380 % AV1B 73316PBQ2 ~~945~~920.~~54885524~~31737723 2533.~~23147801~~45475864 2.~~98163063~~62268953 2836.~~21310864~~07744817 ~~920~~886.~~31737723~~86261859 AV1B 3.~~440000~~664380 % AV2 73316PBR0 ~~874~~818.~~53635089~~23844911 5638.~~29790178~~74966644 2.~~69357200~~28088111 5841.~~99147378~~03054756 ~~818~~779.~~23844911~~48878267 AV2 3.~~360000~~584380 % M1 73316PBS8 1,000.00000000 0.00000000 4.~~30000000~~29953677 4.~~30000000~~29953677 1,000.00000000 M1 5.160000 % M2 73316PBT6 1,000.00000000 0.00000000 4.~~58916667~~58867248 4.~~58916667~~58867248 1,000.00000000 M2 5.507000 % M3 73316PBU3 1,000.00000000 0.00000000 4.~~67083385~~67033127 4.~~67083385~~67033127 1,000.00000000 M3 5.605000 % M4 73316PBV1 1,000.00000000 0.00000000 4.~~75000000~~74948786 4.~~75000000~~74948786 1,000.00000000 M4 5.700000 % B1 733169BW9 1,000.00000000 0.00000000 43.~~19833280~~73633760 43.~~19833280~~73633760 1,000.00000000 B1 4.~~580000~~804380 % B2 73316PBX7 1,000.00000000 0.00000000 4.~~65666600~~12518400 4.~~65666600~~12518400 1,000.00000000 B2 5.~~080000~~304380 % B3 73316PBY5 1,000.00000000 0.00000000 5.~~81166720~~10511360 5.~~81166720~~10511360 1,000.00000000 B3 6.~~340000~~157545 % B4 73316PBZ2 1,000.00000000 0.00000000 65.~~04083360~~29955840 65.~~04083360~~29955840 1,000.00000000 B4 6.~~590000~~157545 % --------------- --------------- --------------- ------------------------------------------------------- -------------------------- TOTALS ~~946~~923.~~33703875~~01744811 2327.~~31959064~~80985994 3.~~30224371~~06066005 2630.~~62183435~~87051998 ~~923~~895.~~01744811~~20758818 --------------- ------------------------------------------------------------------------------------- -------------------------- ---------------------------------------------------------------------------------------------------- -------------------------- X N/A 1,~~218~~190.~~18991963~~91929407 0.00000000 0.~~00004520~~00004579 0.~~00004520~~00004579 1,~~190~~158.~~91929407~~08852214 X 0.000000 % ---------------------------------------------------------------------------------------------------- --------------------------

-------------------------------------------------------------------------------- GRAPHIC OMITTED COPYRIGHT 2005 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. Page 2 of 11 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-1 STATEMENT TO CERTIFICATEHOLDERS JULY 25, 2005 -------------------------------------------------------------------------------- IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: RYAN VAUGHN JPMorgan Chase Bank, N.A. - Structured Finance Services NY 4 NEW YORK PLAZA FLR 6, New York, New York 10004 Tel: (212) 623-4484 / Fax: (212) 623-5930 Email: Ryan.M.Vaughn@JPMorgan.com -------------------------------------------------------------------------------- GRAPHIC OMITTED COPYRIGHT 2005 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. Page 3 of 11 POPULAR ABS MORTGAGE PASS-THROUGH TRUST 2005-1 JULY 25, 2005

~~Group 1~~ ----------------------------------------------------------- ~~Period Number Principal Balance Percentage~~ ---------- -------- ----------------- ------------------------------------- Sec. 4.03(a)(i) Funds Allocable to Certificate Principal Group I Scheduled Principal 363,278.96 Group I Curtailments 24,804.48 Group I Prepayments 8,168,124.64 Group I Repurchases 0.00 Group I Liquidation Proceeds 0.00 Group II-30A ~~days~~Scheduled ~~115~~Principal 15161,~~725~~120.73 Group II-A Curtailments 5,~~792~~579.9776 4Group II-A Prepayments 5,745,444.~~29%~~10 31Group II-60A ~~days~~Repurchases 80.00 ~~710~~Group II-A Liquidation Proceeds 0.00 Group II-B Scheduled Principal 34,~~539~~540.7775 Group II-B Curtailments -1,273.62 Group II-B Prepayments 1,580,103.92 Group II-B Repurchases 0.~~19%~~00 61Group II-90B ~~days~~Liquidation 6Proceeds ~~618~~0.00 Extra Principal Distribution Amount 1,~~907~~299,438.7773 Sec. 4.03 (a)(ii) Interest Distribution Amounts Interest Distribution - AF-1 297,229.55 Unpaid Interest - AF-1 0.~~17%~~00 ~~91+days~~Remaining Unpaid Interest - AF-1 0.00 Interest Distribution - AF-2 101,100.78 Unpaid Interest - AF-2 0.00 Remaining Unpaid Interest - AF-2 0.00% ~~Total~~Interest ~~129~~Distribution 17- AF-3 141,~~055~~503.09 Unpaid Interest - AF-3 0.00 Remaining Unpaid Interest - AF-3 0.00 Interest Distribution - AF-4 134,~~240~~385.5152 Unpaid Interest - AF-4 0.~~65%~~00 Remaining Unpaid Interest - AF-4 0.00 Interest Distribution - AF-5 43,848.50 Unpaid Interest - AF-5 0.00 Remaining Unpaid Interest - AF-5 0.00 Interest Distribution - AF-6 57,718.78 Unpaid Interest - AF-6 0.00 -----------------------------------------------------------------------------------------------------------------------------------

~~Group 2~~ ----------------------------------------------------------- ~~Period Number Principal Balance Percentage~~ ---------- -------- ----------------- ------------ 0-~~30 days 65 8,211,196.34 4.61% 31~~-60----------------------- ~~days~~Remaining 10Unpaid ~~1,473,610.55~~Interest ~~0.83% 61~~-90 ~~days~~ AF-6 ~~810,557.82~~ 0.~~45%~~00 ~~91+days 4 649,539.36 0.36% Total 85 11,144,904.07 6.25%~~-----------------------------------------------------------------------------------------------------------------------------------

~~Group~~POPULAR 3ABS MORTGAGE PASS-THROUGH TRUST 2005-1 JULY 25, 2005 --------------------------------------------------------- ~~Period Number Principal Balance Percentage~~ ---------- -------- -------------------------------------------------------- Interest Distribution - AV-1A 389,810.67 Unpaid Interest - AV-1A 0.00 Remaining Unpaid Interest - AV-1A 0.00 Interest Distribution - AV-1B 100,186.74 Unpaid Interest - AV-1B 0.00 Remaining Unpaid Interest - AV-1B 0.00 Interest Distribution -30 ~~days~~AV-2 6102,639.65 Unpaid Interest - AV-2 0.00 Remaining Unpaid Interest - AV-2 0.00 Interest Distribution - M-1 189,~~500~~437.59 Unpaid Interest - M-1 0.00 Remaining Unpaid Interest - M-1 0.00 Interest Distribution - M-2 157,~~065~~758.7456 3Unpaid Interest - M-2 0.~~93%~~00 31Remaining Unpaid Interest -60 ~~days~~M-2 0.00 Interest Distribution - M-3 ~~598~~45,~~551~~255.9351 1Unpaid Interest - M-3 0.~~57%~~00 61Remaining Unpaid Interest -90 ~~days~~M-3 0.00 Interest Distribution - M-4 43,030.36 Unpaid Interest - M-4 0.00 Remaining Unpaid Interest - M-4 0.00% ~~91+days~~Interest Distribution - B-1 ~~206~~23,~~841~~352.7111 Unpaid Interest - B-1 0.~~54%~~00 ~~Total~~Remaining 10Unpaid Interest - B-1 0.00 Interest Distribution - B-2 20,~~305~~625.92 Unpaid Interest - B-2 0.00 Remaining Unpaid Interest - B-2 0.00 Interest Distribution - B-3 31,~~459~~906.3896 6Unpaid Interest - B-3 0.~~04%~~00 Remaining Unpaid Interest - B-3 0.00 Interest Distribution - B-4 33,122.24 Unpaid Interest - B-4 0.00 Remaining Unpaid Interest - B-4 0.00 -----------------------------------------------------------------------------------------------------------------------------------

~~Group 1~~ ----------------------------------------------------------------------------------------------------------------------------------- ~~Number~~Interest ~~Principal~~Reductions ~~Balance~~Net ~~Percentage~~Prepayment Interest Shortfalls 0.00 Relief Act Reductions 205.50 Class AF-1 Interest Reduction 32.02 Class AF-2 Interest Reduction 10.89 Class AF-3 Interest Reduction 15.24 Class AF-5 Interest Reduction 4.72 Class AF-4 Interest Reduction 14.48 Class AF-6 Interest Reduction 6.22 Class AV-1A Interest Reduction 41.99 Class AV-1B Interest Reduction 10.79 Class AV-2 Interest Reduction 11.06 Class M-1 Interest Reduction 20.41 Class M-2 Interest Reduction 16.99 Class M-3 Interest Reduction 4.87 Class M-4 Interest Reduction 4.64 Class B-1 Interest Reduction 2.52 Class B-2 Interest Reduction 2.22 Class B-3 Interest Reduction 3.22 Class B-4 Interest Reduction 3.22 Sec. 4.03(a)(iii) Available Funds Shortfall Class AF-1 Available Funds Shortfall 0.00 Class AF-2 Available Funds Shortfall 0.00 Class AF-3 Available Funds Shortfall 0.00 Class AF-4 Available Funds Shortfall 0.00 Class AF-5 Available Funds Shortfall 0.00 Class AF-6 Available Funds Shortfall 0.00 Class AV-1A Available Funds Shortfall 0.00 Class AV-1B Available Funds Shortfall 0.00 Class AV-2 Available Funds Shortfall 0.00 Class M-1 Available Funds Shortfall 0.00 Class M-2 Available Funds Shortfall 0.00 Class M-3 Available Funds Shortfall 0.00 Class M-4 Available Funds Shortfall 0.00 Class B-1 Available Funds Shortfall 0.00 Class B-2 Available Funds Shortfall 0.00 Class B-3 Available Funds Shortfall 0.00 Class B-~~---~~4 6Available ~~685~~Funds Shortfall 0.00 Sec. 4.03(a)(v) Pool Principal Balances Group I Beginning Pool Balance 366,~~209~~911,931.4507 0Group I Ending Pool Balance 358,355,722.~~19%~~99 Group II-A Beginning Pool Balance 178,303,184.34 -----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------- Group 2II-A Ending Pool Balance 172,391,039.75 Group II-B Beginning Pool Balance 38,141,106.00 Group II-B Ending Pool Balance 36,527,734.95 Total Beginning Pool Balance 583,356,221.41 Total Ending Pool Balance 567,274,497.69 Sec. 4.03(a)(vi) Servicing Fee Group I Servicing Fee 152,879.97 Group II-A Servicing Fee 74,292.99 Group II-B Servicing Fee 15,892.13 Sec. 4.03(a)(viii) Delinquency Advances Group I Delinquency Advances Included in Current Distribution 0.00 Group I Recouped Advances Included in Current Distribution 0.00 Group I Recouped Advances From Liquidations 0.00 Group I Aggregate Amount of Advances Outstanding 0.00 Group II-A Delinquency Advances Included in Current Distribution 0.00 Group II-A Recouped Advances Included in Current Distribution 0.00 Group II-A Recouped Advances From Liquidations 0.00 Group II-A Aggregate Amount of Advances Outstanding 0.00 Group II-B Delinquency Advances Included in Current Distribution 484.99 Group II-B Recouped Advances Included in Current Distribution 0.00 Group II-B Recouped Advances From Liquidations 0.00 Group II-B Aggregate Amount of Advances Outstanding 97,121.56 Section 4.03(a)(ix) A Group I,Group II-A, and Group II-B Loans Delinquent Delinquency by Group Group 1 --------------------------------------------------------------------------- Period Number Principal Balance Percentage --------------------------------------------------------------------------- 0-30 days 143 18,974,130.19 5.29 % 31-60 days 11 1,288,452.69 0.36 % 61-90 days 3 308,386.70 0.09 % 91+days 0 0.00 0.00 % --------------------------------------------------------------------------- Total 157 20,570,969.58 5.74 % --------------------------------------------------------------------------- Delinquency by Group Group 2 ~~254~~--------------------------------------------------------------------------- Period Number Principal Balance Percentage --------------------------------------------------------------------------- 0-30 days 66 8,~~743~~720,216.2442 05.1406 % --------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------- Delinquency by Group Group 2 --------------------------------------------------------------------------- Period Number Principal Balance Percentage --------------------------------------------------------------------------- 31-60 days 9 1,088,514.25 0.63 % 61-90 days 6 755,772.96 0.44 % 91+days 3 414,437.02 0.24 % --------------------------------------------------------------------------- Total 84 10,978,940.65 6.37 % --------------------------------------------------------------------------- Delinquency by Group Group 3 --------------------------------------------------------------------------- Period Number Principal Balance Percentage --------------------------------------------------------------------------- 0-30 days 8 2,011,825.21 5.51 % 31-60 days 2 524,416.99 1.44 % 61-90 days 3 598,551.93 1.64 % 91+days 2 727,952.45 1.99 % --------------------------------------------------------------------------- Total 15 3,862,746.58 10.57 % --------------------------------------------------------------------------- Sec. 4.03 (a)(ix) B Group I,Group II-A, and Group II-B Loans in Foreclosure Foreclosure by Group -------------------------------------------------------- Group Number of Principal Balance Percentage Number Loans -------------------------------------------------------- 1 ~~521~~8 881,~~576~~058.3873 0.25% 2 5 759,369.52 0.44% 3 0 0.00 0.00% -------------------------------------------------------- Sec. 4.03(a)(x),(xi) Group I,Group II-A, and Group II-B Loans in REO REO by Group -------------------------------------------------------- Group Number of Principal Balance Percentage Number Loans -------------------------------------------------------- 1 0 0.3700 0.00% 2 0 0.00 0.00% 3 0 0.00 0.00% -------------------------------------------------------- Market Value of Group I REO Loans 0.00 Market Value of Group II-A REO Loans 0.00 Market Value of Group II-B REO Loans 0.00 -----------------------------------------------------------------------------------------------------------------------------------

~~Group 1~~ --------------------------------------------- ~~Number Principal Balance Percentage~~ -------------------------------------------------------------------------------------- Sec. 4.03(a)(xii) Aggregate Stated Principal Balance of the Three Largest Loans Group I Three Largest Loans 2,179,978.12 Group II-A Three Largest Loans 1,156,967.46 Group II-B Three Largest Loans 1,868,107.33 Sec. 4.03(a)(xiii) Net WAC Cap Carryover Class AF-1 Net WAC Cap Carryover Amounts Due 0.00 Class AF-1 Net WAC Cap Carryover Amounts Paid 0.00 Class AF-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-1A Net WAC Cap Carryover Amounts Due 0.00 Class AV-1A Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1A Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-1B Net WAC Cap Carryover Amounts Due 0.00 Class AV-1B Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1B Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Paid 0.00 Class AV-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Paid 0.00 Class B-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Paid 0.00 Class B-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-3 Net WAC Cap Carryover Amounts Due 1,977.67 Class B-3 Net WAC Cap Carryover Amounts Paid 1,977.67 Class B-3 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-4 Net WAC Cap Carryover Amounts Due 3,192.95 Class B-4 Net WAC Cap Carryover Amounts Paid 3,192.95 Class B-4 Net WAC Cap Carryover Remaining Amounts Due 0.00 Sec. 4.03(a)(xiv) Aggregate Principal Balance of Balloon Loans with Original Terms <= 36 Months and 60+ Contractually Past Due Group I Aggregate Principal Balance of Balloon Loans 0.00 Group II-A Aggregate Principal Balance of Balloon Loans 0.00 Group II-B Aggregate Principal Balance of Balloon Loans 0.00 Sec. 4.03 (a)(xv),(xxii) Realized Losses Group I Current Period Realized Losses 0.00 Group I Cumulative Realized Losses 0.00 Group II-A Current Period Realized Losses 0.00 Group II-A Cumulative Realized Losses 0.00 Group II-B Current Period Realized Losses 0.00% -----------------------------------------------------------------------------------------------------------------------------------

~~Group 2~~ --------------------------------------------- ~~Number Principal Balance Percentage~~ -------- ----------------- ------------------------------------------------------------- Group II-B Cumulative Realized Losses 0.00 Sec. 4.03 (a)(xvi) Reserve Fund Beginning Balance of Reserve Fund 0.00 Funds Withdrawn From Reserve Fund For Distribution 0.00% Funds Deposited to Reserve Fund 0.00 Ending Balance of Reserve Fund 0.00 Yield Maintenance Payment for Class AV1A 0.00 Yield Maintenance Payment for Class AV1B 0.00 Yield Maintenance Payment for Class AV2 0.00 Sec. 4.03 (a)(xvii) Number of Loans Repurchased Group I Number of Loans Repurchased 0.00 Group II-A Number of Loans Repurchased 0.00 Group II-B Number of Loans Repurchased 0.00 -----------------------------------------------------------------------------------------------------------------------------------

~~Group 3~~ --------------------------------------------- ~~Number Principal Balance Percentage~~ -------- ----------------- ------------------------------------------------------------- 0Sec. 4.03 (a)(xviii) Weighted Average Mortgage Rate of Outstanding Loans (as of first day of related Due Group I Weighted Average Mortgage Rate 7.30% Group II-A Weighted Average Mortgage Rate 6.81% Group II-B Weighted Average Mortgage Rate 6.80% Sec. 4.03 (a)(xix) Weighted Average Remaining Term of Outstanding Loans Group I Weighted Average Remaining Term 332 Group II-A Weighted Average Remaining Term 353 Group II-B Weighted Average Remaining Term 353 Sec. 4.03 Overcollateralization Amounts Overcollateralization Amount 7,769,755.07 Overcollateralization Target Amount 13,225,596.44 Overcollateralization Release Amount 0.00 Overcollateralization Deficiency Amount 5,455,841.37 Sec. 4.03 (a)(xxiv) Trigger Events Has a Trigger Event Occurred and is continuing? NO Cumulative Realized Losses as a percentage of the Original Pool Balance 0.00% Senior Enhancement Percentage 22.46% Senior Specified Enhancement Percentage 44.10% Sec. 4.03 (a)(xxv) 60+ Day Delinquent Loans 60+ Day Delinquent Loans as a percentage of the current Pool Balance 0.78% Sec. 4.03 (a)(xxvi) Amount of Funds Collected by Trustee under Yield Maintenance Agreement 0.00 Pre-Funded Amount 0.00 -----------------------------------------------------------------------------------------------------------------------------------

Filing Compare · Popular ABS Mortgage Pass-Through Trust 2005-1