8-K 1 sai04007_dec.txt DECEMBER 8-K 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): December 27, 2004 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-115858-07 54-6636455 Pooling and Servicing Agreement) (Commission 54-6636456 (State or other File Number) 54-6636457 jurisdiction 54-6636458 of Incorporation) IRS EIN 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 December 27, 2004 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2004-7 Trust . ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-7 Trust, relating to the December 27, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report 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. STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-7 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 12/27/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-7 Trust, relating to the December 27, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report EX-99.1

Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~SAIL~~Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Series: 2004-7 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A1 86358EKB1 SEN 2.~~18750~~43500% ~~315~~305,~~285~~655,~~928~~729.9346 ~~613~~640,~~055~~900.9763 914,~~630~~737,~~199~~234.4770 A2 86358EKC9 SEN 2.~~19750~~44500% ~~310~~298,~~094~~617,~~163~~261.5762 ~~605~~628,~~717~~713.2776 118,~~476~~841,~~901~~883.9589 A3 86358EKD7 SEN 2.~~23250~~48000% ~~255~~244,~~784~~717,~~918~~930.5170 ~~507~~522,~~590~~608.9674 118,~~066~~817,~~987~~171.8138 A4 86358EKE5 SEN 2.~~23250~~48000% ~~323~~313,~~823~~250,~~906~~828.2400 ~~642~~668,~~610~~964.55 1012,~~573~~886,~~078~~175.2497 A5 86358EKF2 SEN 2.~~16250~~41000% ~~374~~358,~~004~~491,~~616~~490.3388 ~~718~~743,~~919~~969.9842 1522,~~513~~130,~~125~~487.4573 A6 86358EKG0 SEN 2.~~44250~~69000% 77,719,000.00 ~~168~~180,~~736~~027.5843 0.00 A7 86358EKH8 SEN 2.~~35250~~60000% 84,340,000.00 ~~176~~188,~~364~~827.3189 0.00 A8 86358EKJ4 SEN 2.~~53250~~78000% 34,697,000.00 7883,~~106~~060.8076 0.00 A-SIO 86358EKK1 IO 0.00000% 0.00 0.00 0.00 M1 86358EKL9 MEZ 2.~~63250~~88000% 81,161,000.00 ~~189~~201,~~916~~279.7428 0.00 M2 86358EKM7 MEZ 2.~~68250~~93000% 37,876,000.00 9095,~~313~~563.2225 0.00 M3 86358EKN5 MEZ 23.~~83250~~08000% 19,479,000.00 4951,~~043~~662.7964 0.00 M4 86358EKP0 MEZ 3.~~28250~~53000% 23,807,000.00 6972,~~463~~366.5467 0.00 M5 86358EKQ8 MEZ 34.~~78250~~03000% 27,054,000.00 9093,~~961~~884.5690 0.00 M6 86358EKR6 MEZ 4.~~03250~~28000% 21,643,000.00 7779,~~578~~766.1348 0.00 M7 86358EKS4 MEZ 4.~~43250~~68000% 27,053,000.00 ~~106~~109,~~588~~023.8259 0.00 B 86358EKT2 SUB 4.~~43250~~68000% 21,643,000.00 8587,~~273~~221.4229 0.00 X SAI04007X SEN 0.00000% 10,820,970.00 6,~~846~~716,~~897~~827.2356 0.00 P SAI04007P SEN 0.00000% 100.00 1,~~118~~197,~~785~~534.6777 0.00 Totals 21,~~046~~988,~~286~~026,~~603~~310.5866 12,~~235~~362,~~924~~203.5461 5867,~~260~~412,~~292~~953.9267

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~305~~290,~~655~~918,~~729~~494.4676 1015,~~243~~378,~~255~~135.4433 0.00 A2 0.00 ~~298~~289,~~617~~775,~~261~~377.6273 129,~~082~~470,~~619~~597.2265 0.00 A3 0.00 ~~244~~235,~~717~~900,~~930~~759.7032 119,~~574~~339,~~578~~780.7712 0.00 A4 0.00 ~~313~~300,~~250~~364,~~828~~652.0003 1113,~~215~~555,~~688~~140.7952 0.00 A5 0.00 ~~358~~336,~~491~~361,~~490~~003.8815 1622,~~232~~874,~~045~~457.4315 0.00 A6 0.00 77,719,000.00 ~~168~~180,~~736~~027.5843 0.00 A7 0.00 84,340,000.00 ~~176~~188,~~364~~827.3189 0.00 A8 0.00 34,697,000.00 7883,~~106~~060.8076 0.00 A-SIO 0.00 0.00 0.00 0.00 M1 0.00 81,161,000.00 ~~189~~201,~~916~~279.7428 0.00 M2 0.00 37,876,000.00 9095,~~313~~563.2225 0.00 M3 0.00 19,479,000.00 4951,~~043~~662.7964 0.00 M4 0.00 23,807,000.00 6972,~~463~~366.5467 0.00 M5 0.00 27,054,000.00 9093,~~961~~884.5690 0.00 M6 0.00 21,643,000.00 7779,~~578~~766.1348 0.00 M7 0.00 27,053,000.00 ~~106~~109,~~588~~023.8259 0.00 B 0.00 21,643,000.00 8587,~~273~~221.4229 0.00 X 0.00 10,820,970.00 6,~~846~~716,~~897~~827.2356 0.00 P 0.00 100.00 1,~~118~~197,~~785~~534.6777 0.00 Totals 0.00 1,~~988~~920,~~026~~613,~~310~~356.6699 7079,~~496~~775,~~217~~157.4628 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) A1 334,549,000.00 ~~315~~305,~~285~~655,~~928~~729.9346 0.00 914,~~630~~737,~~199~~234.4770 0.00 0.00 A2 330,513,000.00 ~~310~~298,~~094~~617,~~163~~261.5762 0.00 118,~~476~~841,~~901~~883.9589 0.00 0.00 A3 280,262,000.00 ~~255~~244,~~784~~717,~~918~~930.5170 0.00 118,~~066~~817,~~987~~171.8138 0.00 0.00 A4 340,669,000.00 ~~323~~313,~~823~~250,~~906~~828.2400 0.00 1012,~~573~~886,~~078~~175.2497 0.00 0.00 A5 411,013,000.00 ~~374~~358,~~004~~491,~~616~~490.3388 0.00 1522,~~513~~130,~~125~~487.4573 0.00 0.00 A6 77,719,000.00 77,719,000.00 0.00 0.00 0.00 0.00 A7 84,340,000.00 84,340,000.00 0.00 0.00 0.00 0.00 A8 34,697,000.00 34,697,000.00 0.00 0.00 0.00 0.00 A-SIO 0.00 0.00 0.00 0.00 0.00 0.00 M1 81,161,000.00 81,161,000.00 0.00 0.00 0.00 0.00 M2 37,876,000.00 37,876,000.00 0.00 0.00 0.00 0.00 M3 19,479,000.00 19,479,000.00 0.00 0.00 0.00 0.00 M4 23,807,000.00 23,807,000.00 0.00 0.00 0.00 0.00 M5 27,054,000.00 27,054,000.00 0.00 0.00 0.00 0.00 M6 21,643,000.00 21,643,000.00 0.00 0.00 0.00 0.00 M7 27,053,000.00 27,053,000.00 0.00 0.00 0.00 0.00 B 21,643,000.00 21,643,000.00 0.00 0.00 0.00 0.00 X 0.00 10,820,970.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 2,153,478,100.00 21,~~046~~988,~~286~~026,~~603~~310.5866 0.00 5867,~~260~~412,~~292~~953.9267 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 A1 914,~~630~~737,~~199~~234.4770 ~~305~~290,~~655~~918,~~729~~494.4676 0.~~91363516~~86958411 914,~~630~~737,~~199~~234.4770 A2 118,~~476~~841,~~901~~883.9589 ~~298~~289,~~617~~775,~~261~~377.6273 0.~~90349627~~87674427 118,~~476~~841,~~901~~883.9589 A3 118,~~066~~817,~~987~~171.8138 ~~244~~235,~~717~~900,~~930~~759.7032 0.~~87317557~~84171511 118,~~066~~817,~~987~~171.8138 A4 1012,~~573~~886,~~078~~175.2497 ~~313~~300,~~250~~364,~~828~~652.0003 0.~~91951668~~88169059 1012,~~573~~886,~~078~~175.2497 A5 1522,~~513~~130,~~125~~487.4573 ~~358~~336,~~491~~361,~~490~~003.8815 0.~~87221448~~81837072 1522,~~513~~130,~~125~~487.4573 A6 0.00 77,719,000.00 1.00000000 0.00 A7 0.00 84,340,000.00 1.00000000 0.00 A8 0.00 34,697,000.00 1.00000000 0.00 A-SIO 0.00 0.00 0.00000000 0.00 M1 0.00 81,161,000.00 1.00000000 0.00 M2 0.00 37,876,000.00 1.00000000 0.00 M3 0.00 19,479,000.00 1.00000000 0.00 M4 0.00 23,807,000.00 1.00000000 0.00 M5 0.00 27,054,000.00 1.00000000 0.00 M6 0.00 21,643,000.00 1.00000000 0.00 M7 0.00 27,053,000.00 1.00000000 0.00 B 0.00 21,643,000.00 1.00000000 0.00 X 0.00 10,820,970.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 5867,~~260~~412,~~292~~953.9267 1,~~988~~920,~~026~~613,~~310~~356.6699 0.~~92316997~~89186575 5867,~~260~~412,~~292~~953.9267

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 334,549,000.00 ~~942~~913.~~42077821~~63516095 0.00000000 2844.~~78561726~~05104992 0.00000000 A2 330,513,000.00 ~~938~~903.~~22077670~~49626677 0.00000000 3426.~~72450993~~75200034 0.00000000 A3 280,262,000.00 ~~912~~873.~~66357376~~17556679 0.00000000 3931.~~48800697~~46045978 0.00000000 A4 340,669,000.00 ~~950~~919.~~55290103~~51668041 0.00000000 3137.~~03622061~~82608917 0.00000000 A5 411,013,000.00 ~~909~~872.~~95811892~~21448198 0.00000000 3753.~~74363694~~84376584 0.00000000 A6 77,719,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A7 84,340,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A8 34,697,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-SIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 81,161,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 37,876,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 19,479,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 23,807,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 27,054,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 21,643,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 27,053,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 21,643,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 100.00000000 0.00000000 0.00000000 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 A1 0.00000000 2844.~~78561726~~05104992 ~~913~~869.~~63516095~~58411103 0.~~91363516~~86958411 2844.~~78561726~~05104992 A2 0.00000000 3426.~~72450993~~75200034 ~~903~~876.~~49626677~~74426643 0.~~90349627~~87674427 3426.~~72450993~~75200034 A3 0.00000000 3931.~~48800697~~46045978 ~~873~~841.~~17556679~~71510701 0.~~87317557~~84171511 3931.~~48800697~~46045978 A4 0.00000000 3137.~~03622061~~82608917 ~~919~~881.~~51668041~~69059125 0.~~91951668~~88169059 3137.~~03622061~~82608917 A5 0.00000000 3753.~~74363694~~84376584 ~~872~~818.~~21448198~~37071613 0.~~87221448~~81837072 3753.~~74363694~~84376584 A6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 100.00000000 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 A1 334,549,000.00 2.~~18750~~43500% ~~315~~305,~~285~~655,~~928~~729.9346 ~~613~~640,~~055~~900.9763 0.00 0.00 A2 330,513,000.00 2.~~19750~~44500% ~~310~~298,~~094~~617,~~163~~261.5762 ~~605~~628,~~717~~713.2776 0.00 0.00 A3 280,262,000.00 2.~~23250~~48000% ~~255~~244,~~784~~717,~~918~~930.5170 ~~507~~522,~~590~~608.9674 0.00 0.00 A4 340,669,000.00 2.~~23250~~48000% ~~323~~313,~~823~~250,~~906~~828.2400 ~~642~~668,~~610~~964.55 0.00 0.00 A5 411,013,000.00 2.~~16250~~41000% ~~374~~358,~~004~~491,~~616~~490.3388 ~~718~~743,~~919~~969.9842 0.00 0.00 A6 77,719,000.00 2.~~44250~~69000% 77,719,000.00 ~~168~~180,~~736~~027.5843 0.00 0.00 A7 84,340,000.00 2.~~35250~~60000% 84,340,000.00 ~~176~~188,~~364~~827.3189 0.00 0.00 A8 34,697,000.00 2.~~53250~~78000% 34,697,000.00 7883,~~106~~060.8076 0.00 0.00 A-SIO 0.00 0.00000% 1,~~950~~884,~~610~~279,~~943~~512.1876 0.00 0.00 0.00 M1 81,161,000.00 2.~~63250~~88000% 81,161,000.00 ~~189~~201,~~916~~279.7428 0.00 0.00 M2 37,876,000.00 2.~~68250~~93000% 37,876,000.00 9095,~~313~~563.2225 0.00 0.00 M3 19,479,000.00 23.~~83250~~08000% 19,479,000.00 4951,~~043~~662.7964 0.00 0.00 M4 23,807,000.00 3.~~28250~~53000% 23,807,000.00 6972,~~463~~366.5467 0.00 0.00 M5 27,054,000.00 34.~~78250~~03000% 27,054,000.00 9093,~~961~~884.5690 0.00 0.00 M6 21,643,000.00 4.~~03250~~28000% 21,643,000.00 7779,~~578~~766.1348 0.00 0.00 M7 27,053,000.00 4.~~43250~~68000% 27,053,000.00 ~~106~~109,~~588~~023.8259 0.00 0.00 B 21,643,000.00 4.~~43250~~68000% 21,643,000.00 8587,~~273~~221.4229 0.00 0.00 X 0.00 0.00000% 21,~~046~~988,~~286~~026,~~603~~310.5866 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 2,153,478,100.00 4,~~270~~447,~~241~~841.6428 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 A1 0.00 0.00 ~~613~~640,~~055~~900.9763 0.00 ~~305~~290,~~655~~918,~~729~~494.4676 A2 0.00 0.00 ~~605~~628,~~717~~713.2776 0.00 ~~298~~289,~~617~~775,~~261~~377.6273 A3 0.00 0.00 ~~507~~522,~~590~~608.9674 0.00 ~~244~~235,~~717~~900,~~930~~759.7032 A4 0.00 0.00 ~~642~~668,~~610~~964.55 0.00 ~~313~~300,~~250~~364,~~828~~652.0003 A5 0.00 0.00 ~~718~~743,~~919~~969.9842 0.00 ~~358~~336,~~491~~361,~~490~~003.8815 A6 0.00 0.00 ~~168~~180,~~736~~027.5843 0.00 77,719,000.00 A7 0.00 0.00 ~~176~~188,~~364~~827.3189 0.00 84,340,000.00 A8 0.00 0.00 7883,~~106~~060.8076 0.00 34,697,000.00 A-SIO 0.00 0.00 0.00 0.00 1,~~884~~820,~~279~~216,~~512~~872.7638 M1 0.00 0.00 ~~189~~201,~~916~~279.7428 0.00 81,161,000.00 M2 0.00 0.00 9095,~~313~~563.2225 0.00 37,876,000.00 M3 0.00 0.00 4951,~~043~~662.7964 0.00 19,479,000.00 M4 0.00 0.00 6972,~~463~~366.5467 0.00 23,807,000.00 M5 0.00 0.00 9093,~~961~~884.5690 0.00 27,054,000.00 M6 0.00 0.00 7779,~~578~~766.1348 0.00 21,643,000.00 M7 0.00 0.00 ~~106~~109,~~588~~023.8259 0.00 27,053,000.00 B 0.00 0.00 8587,~~273~~221.4229 0.00 21,643,000.00 X 0.00 0.00 6,~~846~~716,~~897~~827.2356 0.00 1,~~988~~920,~~026~~613,~~310~~356.6699 P 0.00 0.00 1,~~118~~197,~~785~~534.6777 0.00 100.00 Totals 0.00 0.00 12,~~235~~362,~~924~~203.5461 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 A1 334,549,000.00 2.~~18750~~43500% ~~942~~913.~~42077821~~63516095 1.~~83248484~~91571528 0.00000000 0.00000000 A2 330,513,000.00 2.~~19750~~44500% ~~938~~903.~~22077670~~49626677 1.~~83265793~~90223610 0.00000000 0.00000000 A3 280,262,000.00 2.~~23250~~48000% ~~912~~873.~~66357376~~17556679 1.~~81113016~~86471495 0.00000000 0.00000000 A4 340,669,000.00 2.~~23250~~48000% ~~950~~919.~~55290103~~51668041 1.~~88631942~~96367897 0.00000000 0.00000000 A5 411,013,000.00 2.~~16250~~41000% ~~909~~872.~~95811892~~21448198 1.~~74914171~~81008732 0.00000000 0.00000000 A6 77,719,000.00 2.~~44250~~69000% 1000.00000000 2.~~17111105~~31638891 0.00000000 0.00000000 A7 84,340,000.00 2.~~35250~~60000% 1000.00000000 2.~~09111110~~23888890 0.00000000 0.00000000 A8 34,697,000.00 2.~~53250~~78000% 1000.00000000 2.~~25111105~~39388881 0.00000000 0.00000000 A-SIO 0.00 0.00000% ~~901~~870.~~37432693~~72267460 0.00000000 0.00000000 0.00000000 M1 81,161,000.00 2.~~63250~~88000% 1000.00000000 2.~~34000000~~48000000 0.00000000 0.00000000 M2 37,876,000.00 2.~~68250~~93000% 1000.00000000 2.~~38444450~~52305550 0.00000000 0.00000000 M3 19,479,000.00 23.~~83250~~08000% 1000.00000000 2.~~51777761~~65222239 0.00000000 0.00000000 M4 23,807,000.00 3.~~28250~~53000% 1000.00000000 23.~~91777796~~03972235 0.00000000 0.00000000 M5 27,054,000.00 34.~~78250~~03000% 1000.00000000 3.~~36222222~~47027796 0.00000000 0.00000000 M6 21,643,000.00 4.~~03250~~28000% 1000.00000000 3.~~58444439~~68555561 0.00000000 0.00000000 M7 27,053,000.00 4.~~43250~~68000% 1000.00000000 34.~~94000000~~03000000 0.00000000 0.00000000 B 21,643,000.00 4.~~43250~~68000% 1000.00000000 34.~~94000000~~03000000 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 100.00000000 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 A1 0.00000000 0.00000000 1.~~83248484~~91571528 0.00000000 ~~913~~869.~~63516095~~58411103 A2 0.00000000 0.00000000 1.~~83265793~~90223610 0.00000000 ~~903~~876.~~49626677~~74426643 A3 0.00000000 0.00000000 1.~~81113016~~86471495 0.00000000 ~~873~~841.~~17556679~~71510701 A4 0.00000000 0.00000000 1.~~88631942~~96367897 0.00000000 ~~919~~881.~~51668041~~69059125 A5 0.00000000 0.00000000 1.~~74914171~~81008732 0.00000000 ~~872~~818.~~21448198~~37071613 A6 0.00000000 0.00000000 2.~~17111105~~31638891 0.00000000 1000.00000000 A7 0.00000000 0.00000000 2.~~09111110~~23888890 0.00000000 1000.00000000 A8 0.00000000 0.00000000 2.~~25111105~~39388881 0.00000000 1000.00000000 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 ~~870~~841.~~72267460~~11942668 M1 0.00000000 0.00000000 2.~~34000000~~48000000 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~38444450~~52305550 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.~~51777761~~65222239 0.00000000 1000.00000000 M4 0.00000000 0.00000000 23.~~91777796~~03972235 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.~~36222222~~47027796 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.~~58444439~~68555561 0.00000000 1000.00000000 M7 0.00000000 0.00000000 34.~~94000000~~03000000 0.00000000 1000.00000000 B 0.00000000 0.00000000 34.~~94000000~~03000000 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~1118785~~1197534.~~67000000~~77000000 0.00000000 100.00000000 (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-SIO(1) 0.00000% ~~367,704,593.74~~ 355,200,628.38 343,124,346.72 0.00 0.00 8784.~~07226746~~11194267% A-SIO(2) 0.00000% ~~363,268,723.55~~ 350,915,602.01 338,985,004.74 0.00 0.00 8784.~~07226746~~11194267% A-SIO(3) 0.00000% ~~308,037,303.94~~ 297,562,352.45 287,445,684.60 0.00 0.00 8784.~~07226746~~11194267% A-SIO(4) 0.00000% ~~374,431,629.84~~ 361,698,908.49 349,401,695.18 0.00 0.00 8784.~~07226746~~11194267% A-SIO(5) 0.00000% ~~537,168,692.11~~ 518,902,021.43 501,260,141.14 0.00 0.00 8784.~~07226746~~11194267%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 7281,~~019~~255,~~548~~902.3876 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 7281,~~019~~255,~~548~~902.3876 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 1,~~523~~480,~~330~~745.9248 Payment of Interest and Principal 7079,~~496~~775,~~217~~157.4628 Total Withdrawals (Pool Distribution Amount) 7281,~~019~~255,~~548~~902.3876 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~640~~623,~~932~~087.7774 Credit Risk Manager Fee 2524,~~578~~850.5833 PMI Insurance Premium Fee paid by Master Servicer ~~561~~545,~~257~~941.4392 PMI Insurance Premium Fee paid by Servicer ~~157~~153,~~555~~373.2886 Special Servicing Fee ~~136~~131,~~300~~834.9194 Wells Fargo Bank, N.A. 1,~~705~~656.9569 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 1,~~523~~480,~~330~~745.9248

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 ~~749~~1,~~901~~104,372.5456 ~~749~~1,~~901~~104,372.5456 1,000.00 Financial Guaranty 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 115 0 0 115 ~~210~~3,~~123~~503,535.3304 0.00 0.00 ~~210~~3,~~123~~503,535.3304 30 Days ~~225~~195 13 05 0 ~~226~~203 3634,~~262~~436,~~397~~795.2462 ~~108~~234,~~825~~588.6359 0512,669.0098 0.00 3635,~~371~~184,~~222~~054.8719 60 Days ~~135~~84 21 08 0 ~~137~~93 2316,~~134~~393,~~956~~563.0595 ~~123~~131,~~646~~237.3057 0933,838.0056 0.00 2317,~~258~~458,~~602~~640.3508 90 Days 3271 07 324 0 35102 511,~~213~~501,~~275~~407.2720 0811,985.0075 ~~302~~5,~~046~~097,995.9435 0.00 517,~~515~~411,~~322~~388.2130 120 Days 235 05 019 0 2329 2765,~~140,739~~013.8863 0356,091.0085 03,301,101.0068 0.00 24,~~140~~422,~~739~~207.8816 150 Days 92 03 012 02 919 153,~~359,701~~880.4190 0269,614.0097 01,221,626.0037 0245,700.00 1,~~359~~790,~~701~~822.4124 180+ Days 0 01 06 0 07 0.00 025,378.0026 01,007,370.0016 0.00 01,032,748.0042 Totals ~~424~~357 435 374 02 ~~431~~468 6863,~~111~~150,~~069~~661.8530 ~~442~~5,~~595~~332,432.2603 ~~302~~12,~~046~~074,602.9410 0245,700.00 6880,~~855~~803,~~712~~395.0543 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.~~008649~~133333% 0.000000% 0.000000% 0.~~008649~~133333% 0.~~010561~~182270% 0.000000% 0.000000% 0.~~010561~~182270% 30 Days 1.~~946030~~733333% 0.~~008649~~026667% 0.~~000000~~044444% 0.000000% 1.~~954679~~804444% 1.~~822656~~791564% 0.~~005470~~012204% 0.~~000000~~026672% 0.000000% 1.~~828126~~830440% 60 Days 10.~~167618~~746667% 0.~~017298~~008889% 0.~~000000~~071111% 0.000000% 10.~~184916~~826667% 10.~~162832~~852870% 0.~~006215~~006828% 0.~~000000~~048583% 0.000000% 10.~~169047~~908281% 90 Days 0.~~276769~~631111% 0.~~000000~~062222% 0.~~025947~~213333% 0.000000% 0.~~302716~~906667% 0.~~262035~~598357% 0.~~000000~~042243% 0.~~015182~~265222% 0.000000% 0.~~277217~~905822% 120 Days 0.~~198928~~044444% 0.~~000000~~044444% 0.~~000000~~168889% 0.000000% 0.~~198928~~257778% 0.~~107600~~039800% 0.~~000000~~018526% 0.~~000000~~171739% 0.000000% 0.~~107600~~230064% 150 Days 0.~~077841~~017778% 0.~~000000~~026667% 0.~~000000~~106667% 0.~~000000~~017778% 0.~~077841~~168889% 0.~~068343~~002803% 0.~~000000~~014027% 0.~~000000~~063555% 0.~~000000~~012782% 0.~~068343~~093167% 180+ Days 0.000000% 0.~~000000~~008889% 0.~~000000~~053333% 0.000000% 0.~~000000~~062222% 0.000000% 0.~~000000~~001320% 0.~~000000~~052408% 0.000000% 0.~~000000~~053728% Totals 3.~~667186~~173333% 0.~~034596~~311111% 0.~~025947~~657778% 0.~~000000~~017778% 34.~~727729~~160000% 3.~~423466~~285395% 0.~~022246~~277418% 0.~~015182~~628178% 0.~~000000~~012782% 34.~~460894~~203773%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(A) 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 1 210,123.33 0.00 0.00 210,123.33 30 Days 8 0 0 0 8 819,234.95 0.00 0.00 0.00 819,234.95 60 Days 6 1 0 0 7 776,138.83 24,827.53 0.00 0.00 800,966.36 90 Days 1 0 0 0 1 219,302.45 0.00 0.00 0.00 219,302.45 120 Days 2 0 0 0 2 326,638.58 0.00 0.00 0.00 326,638.58 150 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 17 2 0 0 19 2,141,314.81 234,950.86 0.00 0.00 2,376,265.67 0-29 Days 0.136986% 0.000000% 0.000000% 0.136986% 0.246258% 0.000000% 0.000000% 0.246258% 30 Days 1.095890% 0.000000% 0.000000% 0.000000% 1.095890% 0.960120% 0.000000% 0.000000% 0.000000% 0.960120% 60 Days 0.821918% 0.136986% 0.000000% 0.000000% 0.958904% 0.909612% 0.029097% 0.000000% 0.000000% 0.938709% 90 Days 0.136986% 0.000000% 0.000000% 0.000000% 0.136986% 0.257016% 0.000000% 0.000000% 0.000000% 0.257016% 120 Days 0.273973% 0.000000% 0.000000% 0.000000% 0.273973% 0.382811% 0.000000% 0.000000% 0.000000% 0.382811% 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 2.328767% 0.273973% 0.000000% 0.000000% 2.602740% 2.509559% 0.275356% 0.000000% 0.000000% 2.784915% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 5(B) 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 15 0 0 0 15 5,494,496.19 0.00 0.00 0.00 5,494,496.19 60 Days 22 0 0 0 22 6,200,218.88 0.00 0.00 0.00 6,200,218.88 90 Days 2 0 0 0 2 766,388.00 0.00 0.00 0.00 766,388.00 120 Days 3 0 0 0 3 311,028.71 0.00 0.00 0.00 311,028.71 150 Days 3 0 0 0 3 710,437.30 0.00 0.00 0.00 710,437.30 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 45 0 0 0 45 13,482,569.08 0.00 0.00 0.00 13,482,569.08 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.280956% 0.000000% 0.000000% 0.000000% 1.280956% 1.377617% 0.000000% 0.000000% 0.000000% 1.377617% 60 Days 1.878736% 0.000000% 0.000000% 0.000000% 1.878736% 1.554560% 0.000000% 0.000000% 0.000000% 1.554560% 90 Days 0.170794% 0.000000% 0.000000% 0.000000% 0.170794% 0.192154% 0.000000% 0.000000% 0.000000% 0.192154% 120 Days 0.256191% 0.000000% 0.000000% 0.000000% 0.256191% 0.077983% 0.000000% 0.000000% 0.000000% 0.077983% 150 Days 0.256191% 0.000000% 0.000000% 0.000000% 0.256191% 0.178126% 0.000000% 0.000000% 0.000000% 0.178126% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.842869% 0.000000% 0.000000% 0.000000% 3.842869% 3.380439% 0.000000% 0.000000% 0.000000% 3.380439% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(B) 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 36 1 0 0 37 5,772,467.90 108,825.63 0.00 0.00 5,881,293.53 60 Days 23 0 0 0 23 3,592,968.83 0.00 0.00 0.00 3,592,968.83 90 Days 7 0 0 0 7 1,211,463.36 0.00 0.00 0.00 1,211,463.36 120 Days 6 0 0 0 6 443,100.00 0.00 0.00 0.00 443,100.00 150 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 72 1 0 0 73 11,020,000.09 108,825.63 0.00 0.00 11,128,825.72 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.988950% 0.055249% 0.000000% 0.000000% 2.044199% 1.962951% 0.037007% 0.000000% 0.000000% 1.999958% 60 Days 1.270718% 0.000000% 0.000000% 0.000000% 1.270718% 1.221804% 0.000000% 0.000000% 0.000000% 1.221804% 90 Days 0.386740% 0.000000% 0.000000% 0.000000% 0.386740% 0.411963% 0.000000% 0.000000% 0.000000% 0.411963% 120 Days 0.331492% 0.000000% 0.000000% 0.000000% 0.331492% 0.150678% 0.000000% 0.000000% 0.000000% 0.150678% 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 3.977901% 0.055249% 0.000000% 0.000000% 4.033149% 3.747396% 0.037007% 0.000000% 0.000000% 3.784403% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(A) 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 8 0 0 0 8 658,443.74 0.00 0.00 0.00 658,443.74 60 Days 5 0 0 0 5 513,288.95 0.00 0.00 0.00 513,288.95 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 1 0 0 0 1 20,000.00 0.00 0.00 0.00 20,000.00 150 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 14 0 0 0 14 1,191,732.69 0.00 0.00 0.00 1,191,732.69 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.101928% 0.000000% 0.000000% 0.000000% 1.101928% 0.676425% 0.000000% 0.000000% 0.000000% 0.676425% 60 Days 0.688705% 0.000000% 0.000000% 0.000000% 0.688705% 0.527306% 0.000000% 0.000000% 0.000000% 0.527306% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.137741% 0.000000% 0.000000% 0.000000% 0.137741% 0.020546% 0.000000% 0.000000% 0.000000% 0.020546% 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 1.928375% 0.000000% 0.000000% 0.000000% 1.928375% 1.224277% 0.000000% 0.000000% 0.000000% 1.224277% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(B) 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 58 0 0 0 58 9,170,994.02 0.00 0.00 0.00 9,170,994.02 60 Days 35 0 0 0 35 5,793,077.77 0.00 0.00 0.00 5,793,077.77 90 Days 5 0 2 0 7 1,101,754.78 0.00 140,641.80 0.00 1,242,396.58 120 Days 2 0 0 0 2 206,975.00 0.00 0.00 0.00 206,975.00 150 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 100 0 2 0 102 16,272,801.57 0.00 140,641.80 0.00 16,413,443.37 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 3.493976% 0.000000% 0.000000% 0.000000% 3.493976% 3.345836% 0.000000% 0.000000% 0.000000% 3.345836% 60 Days 2.108434% 0.000000% 0.000000% 0.000000% 2.108434% 2.113477% 0.000000% 0.000000% 0.000000% 2.113477% 90 Days 0.301205% 0.000000% 0.120482% 0.000000% 0.421687% 0.401951% 0.000000% 0.051310% 0.000000% 0.453261% 120 Days 0.120482% 0.000000% 0.000000% 0.000000% 0.120482% 0.075510% 0.000000% 0.000000% 0.000000% 0.075510% 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 6.024096% 0.000000% 0.120482% 0.000000% 6.144578% 5.936774% 0.000000% 0.051310% 0.000000% 5.988084% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3(A) 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 8 0 0 0 8 681,466.90 0.00 0.00 0.00 681,466.90 60 Days 6 0 0 0 6 480,549.23 0.00 0.00 0.00 480,549.23 90 Days 1 0 0 0 1 6,870.82 0.00 0.00 0.00 6,870.82 120 Days 2 0 0 0 2 98,909.94 0.00 0.00 0.00 98,909.94 150 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 17 0 0 0 17 1,267,796.89 0.00 0.00 0.00 1,267,796.89 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.161103% 0.000000% 0.000000% 0.000000% 1.161103% 0.865919% 0.000000% 0.000000% 0.000000% 0.865919% 60 Days 0.870827% 0.000000% 0.000000% 0.000000% 0.870827% 0.610619% 0.000000% 0.000000% 0.000000% 0.610619% 90 Days 0.145138% 0.000000% 0.000000% 0.000000% 0.145138% 0.008731% 0.000000% 0.000000% 0.000000% 0.008731% 120 Days 0.290276% 0.000000% 0.000000% 0.000000% 0.290276% 0.125682% 0.000000% 0.000000% 0.000000% 0.125682% 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 2.467344% 0.000000% 0.000000% 0.000000% 2.467344% 1.610950% 0.000000% 0.000000% 0.000000% 1.610950% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3(B) 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 40 0 0 0 40 6,442,183.57 0.00 0.00 0.00 6,442,183.57 60 Days 6 0 0 0 6 805,947.54 0.00 0.00 0.00 805,947.54 90 Days 8 0 0 0 8 1,386,266.75 0.00 0.00 0.00 1,386,266.75 120 Days 2 0 0 0 2 254,843.06 0.00 0.00 0.00 254,843.06 150 Days 2 0 0 0 2 337,432.36 0.00 0.00 0.00 337,432.36 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 58 0 0 0 58 9,226,673.28 0.00 0.00 0.00 9,226,673.28 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.883922% 0.000000% 0.000000% 0.000000% 2.883922% 2.828291% 0.000000% 0.000000% 0.000000% 2.828291% 60 Days 0.432588% 0.000000% 0.000000% 0.000000% 0.432588% 0.353832% 0.000000% 0.000000% 0.000000% 0.353832% 90 Days 0.576784% 0.000000% 0.000000% 0.000000% 0.576784% 0.608608% 0.000000% 0.000000% 0.000000% 0.608608% 120 Days 0.144196% 0.000000% 0.000000% 0.000000% 0.144196% 0.111883% 0.000000% 0.000000% 0.000000% 0.111883% 150 Days 0.144196% 0.000000% 0.000000% 0.000000% 0.144196% 0.148142% 0.000000% 0.000000% 0.000000% 0.148142% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 4.181687% 0.000000% 0.000000% 0.000000% 4.181687% 4.050756% 0.000000% 0.000000% 0.000000% 4.050756% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4(A) 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 7 0 0 0 7 834,567.17 0.00 0.00 0.00 834,567.17 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 3 0 0 0 3 241,403.81 0.00 0.00 0.00 241,403.81 120 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 10 0 0 0 10 1,075,970.98 0.00 0.00 0.00 1,075,970.98 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.303538% 0.000000% 0.000000% 0.000000% 1.303538% 0.978692% 0.000000% 0.000000% 0.000000% 0.978692% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.558659% 0.000000% 0.000000% 0.000000% 0.558659% 0.283093% 0.000000% 0.000000% 0.000000% 0.283093% 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 1.862197% 0.000000% 0.000000% 0.000000% 1.862197% 1.261785% 0.000000% 0.000000% 0.000000% 1.261785% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4(B) 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 34 0 0 0 34 5,014,363.31 0.00 0.00 0.00 5,014,363.31 60 Days 26 1 0 0 27 4,564,591.75 98,818.77 0.00 0.00 4,663,410.52 90 Days 1 0 1 0 2 68,725.96 0.00 161,405.14 0.00 230,131.10 120 Days 3 0 0 0 3 263,491.21 0.00 0.00 0.00 263,491.21 150 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 64 1 1 0 66 9,911,172.23 98,818.77 161,405.14 0.00 10,171,396.14 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.713710% 0.000000% 0.000000% 0.000000% 1.713710% 1.654552% 0.000000% 0.000000% 0.000000% 1.654552% 60 Days 1.310484% 0.050403% 0.000000% 0.000000% 1.360887% 1.506144% 0.032606% 0.000000% 0.000000% 1.538751% 90 Days 0.050403% 0.000000% 0.050403% 0.000000% 0.100806% 0.022677% 0.000000% 0.053258% 0.000000% 0.075935% 120 Days 0.151210% 0.000000% 0.000000% 0.000000% 0.151210% 0.086942% 0.000000% 0.000000% 0.000000% 0.086942% 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 3.225806% 0.050403% 0.050403% 0.000000% 3.326613% 3.270315% 0.032606% 0.053258% 0.000000% 3.356180% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 5(A) 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 11 0 0 0 11 1,374,179.49 0.00 0.00 0.00 1,374,179.49 60 Days 6 0 0 0 6 408,174.27 0.00 0.00 0.00 408,174.27 90 Days 4 0 0 0 4 211,099.34 0.00 0.00 0.00 211,099.34 120 Days 2 0 0 0 2 215,753.38 0.00 0.00 0.00 215,753.38 150 Days 4 0 0 0 4 311,831.75 0.00 0.00 0.00 311,831.75 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 27 0 0 0 27 2,521,038.23 0.00 0.00 0.00 2,521,038.23 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.267281% 0.000000% 0.000000% 0.000000% 1.267281% 0.947446% 0.000000% 0.000000% 0.000000% 0.947446% 60 Days 0.691244% 0.000000% 0.000000% 0.000000% 0.691244% 0.281421% 0.000000% 0.000000% 0.000000% 0.281421% 90 Days 0.460829% 0.000000% 0.000000% 0.000000% 0.460829% 0.145545% 0.000000% 0.000000% 0.000000% 0.145545% 120 Days 0.230415% 0.000000% 0.000000% 0.000000% 0.230415% 0.148754% 0.000000% 0.000000% 0.000000% 0.148754% 150 Days 0.460829% 0.000000% 0.000000% 0.000000% 0.460829% 0.214997% 0.000000% 0.000000% 0.000000% 0.214997% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.110599% 0.000000% 0.000000% 0.000000% 3.110599% 1.738163% 0.000000% 0.000000% 0.000000% 1.738163%

COLLATERAL STATEMENT Collateral Description Fixed Mixed & ARM & Balloon Weighted Average Gross Coupon 6.~~973387~~967314% Weighted Average Net Coupon 6.~~597526~~591210% Weighted Average Pass-Through Rate 6.~~095064~~088516% Weighted Average Maturity(Stepdown Calculation ) ~~347~~346 Beginning Scheduled Collateral Loan Count 11,~~860~~562 Number Of Loans Paid In Full ~~298~~312 Ending Scheduled Collateral Loan Count 11,~~562~~250 Beginning Scheduled Collateral Balance 21,~~046~~988,~~286~~026,~~603~~310.5866 Ending Scheduled Collateral Balance 1,~~988~~920,~~026~~613,~~310~~356.6699 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 1,~~989~~922,~~535~~163,~~587~~708.6349 Monthly P &I Constant 13,~~481~~099,~~793~~071.5244 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 1,~~590~~556,~~502~~401.4227 Unscheduled Principal 5665,~~669~~856,~~790~~552.5140

Miscellaneous Reporting Overcollateralization Amount 10,821,070.00 Overcollateralization Deficiency Amount 0.00 Target Overcollateralization Amount 10,821,070.00 CAP payment ~~749~~1,~~901~~104,372.5456

Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.~~609709~~607971 6.~~888869~~885510 6.~~953295~~942655 Weighted Average Net Rate 7.~~269208~~267271 6.~~563411~~558890 6.~~625678~~614699 Weighted Average Maturity ~~347~~346 ~~347~~346 ~~327~~326 Beginning Loan Count ~~749~~730 1,~~848~~810 ~~733~~726 Loans Paid In Full 1925 3853 79 Ending Loan Count ~~730~~705 1,~~810~~757 ~~726~~717 Beginning Scheduled Balance 8785,~~579~~257,~~233~~574.4397 ~~301~~293,~~144~~835,~~082~~541.0504 9897,~~088~~252,~~346~~527.1195 Ending scheduled Balance 8581,~~257~~072,~~574~~394.9772 ~~293~~283,~~835~~283,~~541~~486.0459 9796,~~252~~069,~~527~~074.9546 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant ~~636~~619,~~301~~987.5811 1,~~963~~916,~~808~~977.5883 ~~679~~673,~~038~~277.7970 Scheduled Principal 8079,~~924~~456.5018 ~~235~~230,~~023~~971.4162 110,~~674~~618.4576 Unscheduled Principal 24,~~240~~105,~~733~~724.9607 710,~~073~~321,~~517~~082.6083 ~~725~~1,~~143~~072,834.7173 Scheduled Interest ~~555~~540,~~377~~530.0893 1,~~728~~686,~~785~~006.1721 ~~568~~562,~~364~~658.3494 Servicing Fees 24,~~850~~206.7101 8179,~~674~~977.9100 26,~~779~~578.5274 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 4139,~~134~~519.9837 ~~149~~146,~~886~~885.4945 39,~~780~~604.6260 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~489~~476,~~391~~805.3955 1,~~497~~459,~~223~~143.7776 ~~501~~496,~~804~~475.2060 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~705581~~711036 5.~~966142~~959022 6.~~139007~~126018

Group Level Collateral Statement Group 2(B) 3(A) 3(B) Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.~~332440~~329139 7.~~401615~~382346 7.~~315188~~316044 Weighted Average Net Rate 6.~~987436~~984721 6.~~909665~~890572 6.~~815188~~816044 Weighted Average Maturity ~~353~~352 ~~320~~319 ~~351~~350 Beginning Loan Count 1,~~712~~660 ~~710~~689 1,~~435~~387 Loans Paid In Full 5236 2114 4841 Ending Loan Count 1,~~660~~624 ~~689~~675 1,~~387~~346 Beginning Scheduled Balance ~~284~~273,~~557~~916,~~387~~303.2041 8078,~~432~~616,~~403~~454.8525 ~~236~~227,~~873~~622,~~099~~061.6342 Ending scheduled Balance ~~273~~266,~~916~~257,~~303~~873.4101 7877,~~616~~215,~~454~~753.2568 ~~227~~220,~~622~~205,~~061~~590.4261 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 1,~~922~~849,~~825~~956.7072 ~~590~~575,~~006~~502.4833 1,~~598~~537,~~999~~055.8834 Scheduled Principal ~~184~~176,~~075~~981.7626 9391,~~898~~857.4043 ~~155~~149,~~023~~311.7611 Unscheduled Principal 107,~~457~~481,~~008~~449.0414 1,~~722~~308,~~051~~843.2014 97,~~096~~267,~~014~~159.4570 Scheduled Interest 1,~~738~~672,~~749~~975.9446 ~~496~~483,~~108~~644.0890 1,~~443~~387,~~976~~744.1223 Servicing Fees 8178,~~811~~617.0889 32,~~973~~217.9397 9894,~~697~~842.1253 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee ~~122~~117,~~978~~841.9687 3029,~~130~~605.2355 8278,~~787~~998.0279 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,~~533~~476,~~959~~515.9070 ~~433~~421,~~003~~821.9238 1,~~262~~213,~~491~~902.9891 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~468825~~468468 6.~~460141~~438673 6.~~395789~~399571

Group Level Collateral Statement Group 4(A) 4(B) 5(A) Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 6.~~644330~~643302 6.~~925703~~923060 7.~~084924~~073914 Weighted Average Net Rate 6.~~308939~~308036 6.~~640894~~638299 6.~~638612~~626689 Weighted Average Maturity ~~347~~346.00 ~~353~~352.00 ~~330~~329.00 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant ~~566~~558,~~729~~561.9669 21,~~052~~993,~~348~~006.8540 1,~~021~~000,~~341~~255.0562 Beginning Loan Count ~~544~~537 21,~~036~~984 ~~887~~868 Loans Paid In Full 710 5257 1920 Ending Loan Count ~~537~~527 1,~~984~~927 ~~868~~848 Beginning Scheduled Balance 8685,~~590~~202,~~389~~448.6383 ~~312~~302,~~014~~829,~~881~~744.5713 ~~147~~144,~~878~~906,~~949~~068.6696 Ending Scheduled Balance 8583,~~202~~217,~~448~~686.8343 ~~302~~291,~~829~~928,~~744~~330.1356 ~~144~~142,~~906~~046,~~068~~067.9687 Scheduled Principal 8786,~~284~~873.0367 ~~251~~245,~~580~~916.1301 ~~148~~146,~~248~~044.4677 Unscheduled Principal 1,~~300~~897,~~656~~888.7773 810,~~933~~655,~~557~~497.3156 2,~~824~~713,~~632~~956.2432 Scheduled Interest ~~479~~471,~~445~~688.9302 1,~~800~~747,~~768~~090.7239 ~~873~~854,~~092~~210.5985 Servicing Fee 2423,~~201~~804.3358 7471,~~053~~861.8883 5554,~~000~~004.1165 Master Servicing Fee 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 Fry Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 3231,~~731~~662.1973 ~~138~~135,~~333~~855.7391 6058,~~173~~699.6800 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest ~~422~~416,~~513~~220.4171 1,~~588~~539,~~381~~372.1165 ~~757~~741,~~918~~507.8020 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.~~855339~~862095 6.~~108867~~099953 6.~~150318~~140589

Group Level Collateral Statement Group 5(B) Fixed Total Collateral Description Fixed 15/30 & ARM ~~Fixed~~ Mixed & ARM & Balloon Weighted Average Coupon Rate 6.~~440692~~431069 6.~~973387~~967314 Weighted Average Net Rate 6.~~029462~~018683 6.~~597526~~591210 Weighted Average Maturity ~~353~~352.00 ~~347~~346.00 Record Date 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 2,~~450~~374,~~392~~490.6570 13,~~481~~099,~~793~~071.5244 Beginning Loan Count 1,~~206~~171 11,~~860~~562 Loans Paid In Full 3547 ~~298~~312 Ending Loan Count 1,~~171~~124 11,~~562~~250 Beginning Scheduled Balance ~~411~~398,~~127~~587,~~830~~585.4570 21,~~046~~988,~~286~~026,~~603~~310.5866 Ending Scheduled Balance ~~398~~379,~~587~~317,~~585~~099.7006 1,~~988~~920,~~026~~613,~~310~~356.6699 Scheduled Principal ~~243~~238,~~769~~370.5246 1,~~590~~556,~~502~~401.4227 Unscheduled Principal 1219,~~296~~032,~~475~~116.2318 5665,~~669~~856,~~790~~552.5140 Scheduled Interest 2,~~206~~136,~~623~~120.1324 11,~~891~~542,~~291~~670.1017 Servicing Fee ~~140~~136,~~890~~976.1854 ~~640~~623,~~932~~087.7774 Master Servicing Fee 0.00 0.00 Trustee Fee 0.00 0.00 Fry Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee ~~158~~154,~~881~~134.8514 ~~856~~832,~~818~~807.7541 Pool Insurance Fee 0.00 0.00 Spread 1 0.00 0.00 Spread 2 0.00 0.00 Spread 3 0.00 0.00 Net Interest 1,~~906~~845,~~851~~009.1056 10,~~393~~086,~~539~~775.5802 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 5.~~565717~~554642 6.~~095064~~088516

Ex 99.2

theMurrayhillcompany SAIL 2004-7 Credit Risk Manager Report October 2004 The information contained in this Report is based upon a specific point in time and reflects performance solely through that point in time. It does not forecast the performance of the portfolio in the future. The information in this Report is not investment advice concerning a particular portfolio or security, and no mention of a particular security in this Report constitutes a recommendation to buy, sell, or hold that or any other security. The Report is based upon information provided to The Murrayhill Company by third parties and therefore The Murrayhill Company cannot, and does not, warrant that the information contained in this Report is accurate or complete. Table of Contents Section One Transaction Summary Section Two Prepayment Premium Analysis Section Three Analytics c 2004 The Murrayhill Company. All Rights Reserved. Section One Transaction Summary SAIL 2004-7 Transaction Summary October 2004 Transaction Summary Closing Date: 7/30/2004 Depositor: Structured Asset Securities Corporation Trustee: LaSalle Bank National Association Securities Administrator: Wells Fargo Bank, N.A. Master Servicer: Wells Fargo Bank, N.A. Aurora Loan Services, Chase Manhattan Mortgage Corp., Servicer(s): Cendant Mortgage Corp., HomEq Servicing Corp., Option One Mortgage Corp., Wells Fargo Bank, N.A. Mortgage Insurer(s): Mortgage Guaranty Insurance Corporation Delinquency Reporting Method: OTS1 Collateral Summary 9/30/2004 as a Percentage Closing Date 9/30/20042 of Closing Date Collateral Balance $ 2,164,299,071 $ 2,044,627,397 94.24 % Loan Count 12,414 11,801 95.06 % Collateral Statistics Loan Count Summed Balance Repurchases3 0 $ 0 First Payment Defaults 35 $ 4,279,375 Early Payment Defaults 4 196 $ 32,571,658 Multiple Loans to One Borrower 12 $ 1,286,684 Second Lien Statistics Loan Count Summed Balance Outstanding Second Lien Loans 946 $ 44,575,467 30 Days Delinquent 14 $ 771,777 60 Days Delinquent 6 $ 237,471 90+ Days Delinquent 10 $ 406,809 1 OTS Method: A current loan becomes 30 days delinquent if the scheduled payment is not made by the close of business on the corresponding day of the following month. Similarly for 60 days delinquent and the second immediately succeeding month and 90 days delinquent and the third immediately succeeding month. 2 These figures are based upon information provided to Murrayhill by the servicers on a monthly basis. 3 Refers to loans repurchased in the current month 4 A default that occurs on the second or third scheduled payment c 2004 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for SAIL 2004-7 Mortgage Data Through: September 30, 2004 Section 1: Prepayment premiums collected by the servicers and remitted to the trustee. This information is reported to Murrayhill by the servicers each month. Trustee Remittance Date 25-Oct-04 25-Sep-04 25-Aug-04 TOTAL $927,873 $605,560 $404,915 Section 2: Prepayment premiums remitted to the P Class by the trustee. This information is taken from the statement to Certificateholders prepared by the trustee. Trustee Remittance Date Trustee Remittance Date Class 25-Oct-04 25-Sep-04 25-Aug-04 P Class $916,748 $605,560 $404,915 Section 3: Reconciliation of the amounts remitted by the servicer to the trustee, and the amount remitted to the P Class by the trustee. Amount remitted by servicer: $927,873 Amount remitted to the P Class: $916,748 Difference*: $11,125 *In the 10/25/2004 remittance cycle, the data received by Murrayhill from the master servicer and the servicers was more than the amount reported on the remittance statement. We are working with all of the parties involved to determine where the discrepancy lies. Aggregate Paid-Off Loans Report for SAIL 2004-7 Mortgage Data Through: September 30, 2004 Trustee Remittance Date 25-Oct-04 25-Sep-04 25-Aug-04 Loans with Active Prepayment Flags with Premiums 172 112 66 Remitted (A) Loans without Prepayment Flags with Premiums Remitted 0 0 0 Total Loans with Premiums Remitted (B) 172 112 66 Loans with Active Prepayment Flags (C) 177 126 66 Loans without Prepayment Flags with Premiums Remitted 0 0 0 Subtotal (D) 177 126 66 Premiums Remitted for loans with Active Prepayment Flags 97.2% 88.9% 100.0% (A/C) Total Loans with Premiums Remitted to the Subtotal (B/D) 97.2% 88.9% 100.0% Total Paid-Off Loans (E) 248 183 97 Total Loans with Premiums Remitted to the Total Paid-Off 69.4% 61.2% 68.0% Loans (B/E) Paid-Off Loans Exception Report for SAIL 2004-7 Mortgage Data Through: September 30, 2004 Total Total Paid-Off Loans with Flags 181 Less Exceptions: Loans with Expired Prepayment Clauses (as stated in the Note)* 0 Loans that Contained a Clause Allowing Prepayment Premiums to be Waived at the Time of Liquidation* 0 Repurchased/Service Transferred Loans* 0 Loans that were Liquidated from REO* 0 Loans with Discrepancies between the Data File and the Note* 0 Defaulted Liquidated Loans that Could Not Have Premiums Collected because of the Acceleration of the Debt* 3 Loans that were Liquidated Through Loss Mitigation Efforts* 1 Total Paid-Off Loans with Active Prepayment Flags (C) 177 Other Exceptions: Paid-Off Loans that Did Not have Premiums Collected because of State Statutes 0 Paid-Off Loans with Active Prepayment Flags that Have Not Remitted Premiums 5 * These categories are mutually exclusive. Paid-Off Loans With Prepayment Flags for SAIL 2004-7 Mortgage Data Through: September 30, 2004 Delinquency Origination PPP Loan Number Exp. Date String Date Flag 5369427 C0 1/21/2004 2 1/21/2006 5366981 00 4/21/2004 2 4/21/2006 5368552 00 4/1/2004 2 4/1/2006 5367837 00 4/14/2004 2 4/14/2006 5368098 00 4/7/2004 2 4/7/2006 5366341 30 4/6/2004 2 4/6/2006 5365591 FF0 3/10/2004 2 3/10/2006 5371776 F0 1/20/2004 2 1/20/2006 5371005 FF 1/6/2004 2 1/6/2006 5360975 CC0 2/23/2004 3 2/23/2007 5360349 CC0 2/9/2004 1 2/9/2005 5361297 CC0 3/25/2004 2 3/25/2006 5362004 CC0 4/2/2004 2 4/2/2006 5361733 CC0 4/5/2004 2 4/5/2006 5362198 CC0 4/16/2004 2 4/16/2006 5362545 CC0 4/21/2004 2 4/21/2006 5362318 CC0 4/21/2004 2 4/21/2006 5361269 CC0 3/2/2004 2 3/2/2006 5360331 CC0 4/30/2004 2 4/30/2006 5362343 CC0 4/22/2004 3 4/22/2007 5361152 CC0 4/28/2004 3 4/28/2007 5359855 CC0 4/26/2004 5 4/26/2009 5365826 CC0 1/2/2004 2 1/2/2006 5365984 CC0 2/18/2004 2 2/18/2006 5365991 CC0 3/9/2004 2 3/9/2006 5369434 30 1/27/2004 3 1/27/2007 5368957 CC0 1/12/2004 3 1/12/2007 5369170 CC0 1/14/2004 3 1/14/2007 5370791 CC0 1/30/2004 3 1/30/2007 5368949 CC0 1/12/2004 3 1/12/2007 5369590 CC0 1/30/2004 3 1/30/2007 5369369 C0 1/20/2004 3 1/20/2007 5370919 C0 1/2/2004 3 1/2/2007 5368823 C0 1/9/2004 3 1/9/2007 5369466 C0 1/14/2004 3 1/14/2007 5370062 C0 4/7/2004 3 4/7/2007 5369735 CC0 1/8/2004 3 1/8/2007 5369757 C0 1/21/2004 3 1/21/2007 5369782 CC0 2/10/2004 3 2/10/2007 5368906 CC0 1/23/2004 3 1/23/2007 5369079 C0 1/30/2004 3 1/30/2007 5369546 C0 1/28/2004 3 1/28/2007 5369747 C0 1/28/2004 3 1/28/2007 5369399 C0 1/28/2004 3 1/28/2007 5369517 C0 1/23/2004 3 1/23/2007 5370799 C0 1/27/2004 3 1/27/2007 5369401 CC0 1/16/2004 2 1/16/2006 5370603 CC0 1/7/2004 2 1/7/2006 5368896 C0 1/14/2004 2 1/14/2006 5371835 C0 1/30/2004 2 1/30/2006 5369952 CC0 4/22/2004 2 4/22/2006 5368970 C0 1/28/2004 2 1/28/2006 5369440 CC0 1/21/2004 2 1/21/2006 5369189 CC0 1/7/2004 2 1/7/2006 5371877 C0 1/29/2004 2 1/29/2006 5370043 C0 4/12/2004 2 4/12/2006 5371434 C0 12/30/2003 2 12/30/2005 5370389 CC0 11/26/2003 2 11/26/2005 5369449 CC0 1/23/2004 2 1/23/2006 5370935 CC0 3/18/2004 2 3/18/2006 5371868 C0 1/27/2004 2 1/27/2006 5369645 CC0 1/21/2004 2 1/21/2006 5369366 CC0 1/28/2004 2 1/28/2006 5371091 CC0 1/5/2004 2 1/5/2006 5372034 C0 1/9/2004 2 1/9/2006 5371710 36 1/14/2004 2 1/14/2006 5369870 C0 3/19/2004 2 3/19/2006 5371607 CC0 1/21/2004 2 1/21/2006 5369166 CC0 1/7/2004 2 1/7/2006 5370386 CC0 11/5/2003 2 11/5/2005 5371790 CC0 1/28/2004 2 1/20/2006 5370279 CC0 4/16/2004 2 4/16/2006 5368776 CC0 11/10/2003 2 11/10/2005 5371587 CC0 1/5/2004 2 1/5/2006 5369598 CC0 1/30/2004 2 1/30/2006 5372006 C0 1/7/2004 2 1/7/2006 5370476 C0 1/9/2004 2 1/9/2006 5369185 C0 1/21/2004 2 1/21/2006 5370079 CC0 4/12/2004 2 4/12/2006 5369728 C0 1/20/2004 2 1/20/2006 5369002 CC0 1/13/2004 2 1/13/2006 5371693 CC0 1/21/2004 2 1/21/2004 5369090 C0 1/5/2004 2 1/5/2006 5369260 C0 1/28/2004 2 1/28/2006 5371788 CC0 1/20/2004 2 1/20/2006 5370581 CC0 1/14/2004 2 1/14/2006 5369317 C0 1/20/2004 2 1/20/2006 5371315 CC0 1/28/2004 2 1/28/2006 5371855 C0 1/27/2004 2 1/27/2006 5368798 CC0 1/26/2004 2 1/26/2006 5371799 C3 1/23/2004 2 1/23/2006 5371886 30 1/28/2004 2 1/28/2006 5369838 CC0 3/25/2004 2 3/25/2006 5371141 CC0 1/12/2004 2 1/12/2006 5369485 C0 1/30/2004 2 1/30/2006 5369149 CC0 1/13/2004 2 1/13/2006 5369787 CC0 2/9/2004 2 2/9/2006 5369493 C0 1/28/2004 2 1/28/2006 5371641 CC0 1/14/2004 2 1/14/2006 5368819 30 12/9/2003 2 12/9/2005 5369498 C0 1/21/2004 2 1/21/2006 5371484 90 12/12/2003 2 12/12/2005 5370328 C0 4/19/2004 2 4/19/2006 5370841 3C 1/23/2004 1 1/23/2005 5369501 C0 1/27/2004 1 1/27/2005 5369457 C0 1/28/2004 1 1/28/2005 5371202 C0 1/28/2004 1 1/28/2005 5372072 C0 1/21/2004 1 1/21/2005 5370783 CC0 1/27/2004 1 1/27/2005 5371059 C0 1/16/2004 1 1/16/2005 5363823 CC0 4/7/2004 1 4/7/2005 5365605 CC0 3/9/2004 2 3/9/2006 5365632 CC0 3/17/2004 2 3/17/2006 5363225 CC0 3/24/2004 2 3/24/2006 5364851 CC0 4/5/2004 2 4/5/2006 5365307 3C0 3/29/2004 2 3/29/2006 5364719 CC0 4/12/2004 2 4/12/2006 5362696 CC0 4/6/2004 2 4/6/2006 5363804 360 4/9/2004 2 4/9/2006 5363075 CC0 4/13/2004 2 4/13/2006 5363966 CC0 4/7/2004 2 4/7/2006 5364441 CC0 4/14/2004 2 4/14/2006 5364444 CC0 4/14/2004 2 4/14/2006 5362908 CC0 4/26/2004 2 4/26/2006 5365431 C30 4/26/200 2 4/26/2006 5362653 CC0 4/21/2004 2 4/21/2006 5362662 CC0 4/27/2004 2 4/27/2006 5365622 CCC0 3/10/2004 2 3/10/2006 5365615 CCC0 2/27/2004 2 2/27/2006 5365547 CC0 3/1/2004 3 3/1/2007 5365560 CC0 2/12/2004 3 2/12/2007 5363778 CC0 3/23/2004 3 3/23/2007 5365006 CC0 4/12/2004 3 4/12/2007 5362892 CC0 4/21/2004 3 4/21/2007 5364930 CC0 4/21/2004 3 4/21/2007 5364735 CC0 4/14/2004 3 4/14/2007 5362763 CC0 4/23/2004 3 4/23/2007 5364123 CC0 4/22/2004 3 4/22/2007 5363181 CC0 4/28/2004 3 4/28/2007 5366687 C0 4/7/2004 1 4/7/2005 5367700 C0 2/4/2004 2 2/4/2006 5366048 C0 3/24/2004 2 3/24/2006 5367163 C0 4/2/2004 2 4/2/2006 5367174 C0 4/2/2004 2 4/2/2006 5366855 C0 4/6/2004 2 4/6/2006 5367768 C0 4/6/2004 2 4/6/2006 5368345 C0 4/6/2004 2 4/6/2006 5368377 C0 4/7/2004 2 4/7/2006 5367245 C0 4/7/2004 2 4/7/2006 5367716 C0 4/8/2004 2 4/8/2006 5367759 C0 4/8/2004 2 4/8/2006 5368165 C0 4/8/2004 2 4/8/2006 5368734 C0 4/8/2004 2 4/8/2006 5366603 30 4/8/2004 2 4/8/2006 5366358 C0 4/9/2004 2 4/9/2006 5368559 C0 4/9/2004 2 4/9/2006 5366987 C0 4/12/2004 2 4/12/2006 5367818 C0 4/12/2004 2 4/12/2006 5367824 C0 4/12/2004 2 4/12/2006 5366876 C0 4/13/2004 2 4/13/2006 5366246 C0 4/19/2004 2 4/19/2006 5367101 C0 4/19/2004 2 4/19/2006 5368715 C0 4/19/2004 2 4/19/2006 5368435 C0 4/22/2004 2 4/22/2006 5366195 C0 4/23/2004 2 4/23/2006 5366767 C0 4/23/2004 2 4/23/2006 5367847 C0 4/26/2004 2 4/26/2006 5368146 C0 4/26/2004 2 4/26/2006 5368082 C0 4/27/2004 2 4/27/2006 5368147 C0 4/27/2004 2 4/27/2006 5366450 C0 4/28/2004 2 4/28/2006 5366674 C0 4/28/2004 2 4/28/2006 5366428 C0 4/29/2004 2 4/29/2006 5367166 C0 4/1/2004 3 4/1/2007 5366359 C0 4/9/2004 3 4/9/2007 5366438 C0 4/14/2004 3 4/14/2007 5366714 C0 4/16/2004 3 4/16/2007 5366200 C0 4/19/2004 3 4/19/2007 5367812 C0 4/19/2004 3 4/19/2007 5367846 C0 4/28/2004 3 4/28/2007 5368524 C0 4/29/2004 3 4/29/2007 Paid-Off Loans With Prepayment Flags for SAIL 2004-7 Mortgage Data Through: September 30, 2004 (Cont'd) % of No Premium PPP Payoff PPP Premium to Collected, w/Collected,Comments Loan Number Balance Remitted Payoff Flag No Flag Balance 5369427 $10,747 $- 0% 5369427 Awaiting servicer's response 5366981 $160,834 $- 0% 5366981 Awaiting servicer's response 5368552 $211,812 $- 0% 5368552 Awaiting servicer's response 5367837 $154,521 $- 0% 5367837 Awaiting servicer's response 5368098 $287,066 $- 0% 5368098 Awaiting servicer's response 5366341 $307,573 $- 0% Liquidated through loss mitigation 5365591 $238,000 $- 0% Liquidated out of foreclosure status 5371776 $320,400 $- 0% Liquidated out of foreclosure status 5371005 $146,150 $- 0% Liquidated out of foreclosure status 5360975 $1,455 $- 0% Pemium remitted in prior month reimittance 5360349 $103,077 $2,936 3% 5361297 $159,335 $4,455 3% 5362004 $242,286 $7,360 3% 5361733 $72,065 $721 1% 5362198 $237,860 $11,886 5% 5362545 $52,576 $1,524 3% 5362318 $122,786 $4,296 3% 5361269 $251,830 $6,674 3% 5360331 $161,627 $5,333 3% 5362343 $62,781 $1,691 3% 5361152 $291,408 $7,239 2% 5359855 $198,000 $5,148 3% 5365826 $212,798 $6,675 3% 5365984 $184,355 $5,802 3% 5365991 $162,667 $6,097 4% 5369434 $6,928 $301 4% 5368957 $6,523 $310 5% 5369170 $11,431 $503 4% 5370791 $111,829 $3,082 3% 5368949 $121,474 $3,390 3% 5369590 $154,853 $3,586 2% 5369369 $161,117 $4,215 3% 5370919 $166,919 $4,333 3% 5368823 $146,804 $4,398 3% 5369466 $197,788 $4,731 2% 5370062 $206,168 $4,935 2% 5369735 $230,992 $5,072 2% 5369757 $165,549 $5,193 3% 5369782 $274,167 $6,022 2% 5368906 $222,789 $6,220 3% 5369079 $220,861 $6,266 3% 5369546 $219,128 $6,348 3% 5369747 $273,414 $6,825 2% 5369399 $356,000 $8,188 2% 5369517 $352,886 $9,088 3% 5370799 $364,568 $10,181 3% 5369401 $8,536 $398 5% 5370603 $50,248 $402 1% 5368896 $15,495 $664 4% 5371835 $13,966 $665 5% 5369952 $42,922 $1,709 4% 5368970 $36,272 $1,796 5% 5369440 $35,377 $1,858 5% 5369189 $41,311 $2,210 5% 5371877 $103,222 $2,349 2% 5370043 $214,180 $2,495 1% 5371434 $59,070 $2,534 4% 5370389 $325,009 $2,596 1% 5369449 $72,781 $2,793 4% 5370935 $116,374 $2,812 2% 5371868 $80,625 $2,891 4% 5369645 $70,797 $2,971 4% 5369366 $129,996 $3,121 2% 5371091 $109,123 $3,311 3% 5372034 $65,624 $3,316 5% 5371710 $84,561 $3,463 4% 5369870 $180,226 $3,953 2% 5371607 $178,600 $4,279 2% 5369166 $165,173 $4,287 3% 5370386 $209,474 $4,800 2% 5371790 $190,399 $4,874 3% 5370279 $210,614 $5,041 2% 5368776 $149,556 $5,078 3% 5371587 $220,500 $5,116 2% 5369598 $171,222 $5,131 3% 5372006 $175,339 $5,255 3% 5370476 $189,288 $5,292 3% 5369185 $123,960 $5,438 4% 5370079 $121,207 $5,873 5% 5369728 $238,427 $6,094 3% 5369002 $129,686 $6,249 5% 5371693 $214,782 $6,306 3% 5369090 $257,253 $6,420 2% 5369260 $137,500 $6,459 5% 5371788 $196,147 $6,662 3% 5370581 $244,875 $6,810 3% 5369317 $267,115 $7,470 3% 5371315 $301,916 $7,595 3% 5371855 $326,000 $7,628 2% 5368798 $278,089 $7,662 3% 5371799 $344,000 $7,912 2% 5371886 $327,100 $8,243 3% 5369838 $332,974 $8,657 3% 5371141 $213,028 $9,325 4% 5369485 $386,886 $9,362 2% 5369149 $349,387 $9,559 3% 5369787 $342,481 $9,648 3% 5369493 $396,908 $9,903 2% 5371641 $312,950 $10,685 3% 5368819 $279,369 $11,157 4% 5369498 $442,843 $12,650 3% 5371484 $398,673 $12,913 3% 5370328 $462,443 $16,160 3% 5370841 $63,431 $2,561 4% 5369501 $91,527 $3,016 3% 5369457 $88,368 $3,878 4% 5371202 $232,000 $4,640 2% 5372072 $195,781 $5,239 3% 5370783 $159,377 $5,254 3% 5371059 $179,153 $5,798 3% 5363823 $204,055 $4,081 2% 5365605 $478,365 $13,096 3% 5365632 $208,140 $7,905 4% 5363225 $319,106 $10,004 3% 5364851 $138,702 $3,658 3% 5365307 $197,334 $3,947 2% 5364719 $200,600 $5,733 3% 5362696 $101,019 $1,013 1% 5363804 $208,000 $5,928 3% 5363075 $114,788 $3,901 3% 5363966 $85,374 $1,707 2% 5364441 $297,920 $2,988 1% 5364444 $81,014 $812 1% 5362908 $87,745 $2,192 2% 5365431 $255,821 $5,116 2% 5362653 $624,534 $20,441 3% 5362662 $185,782 $4,747 3% 5365622 $178,254 $6,413 4% 5365615 $209,209 $5,308 3% 5365547 $183,390 $4,758 3% 5365560 $151,180 $4,635 3% 5363778 $175,590 $2,480 1% 5365006 $189,107 $3,779 2% 5362892 $67,324 $1,739 3% 5364930 $101,808 $3,399 3% 5364735 $129,605 $3,072 2% 5362763 $74,420 $656 1% 5364123 $155,552 $1,555 1% 5363181 $82,769 $1,654 2% 5366687 $450,000 $14,850 3% 5367700 $537,059 $14,052 3% 5366048 $26,961 $1,185 4% 5367163 $514,000 $12,953 3% 5367174 $198,986 $4,964 2% 5366855 $209,635 $7,334 3% 5367768 $259,227 $6,269 2% 5368345 $448,747 $11,462 3% 5368377 $168,855 $4,405 3% 5367245 $357,000 $8,554 2% 5367716 $184,564 $5,349 3% 5367759 $332,135 $8,962 3% 5368165 $462,675 $14,314 3% 5368734 $269,326 $7,483 3% 5366603 $198,832 $5,459 3% 5366358 $256,000 $5,990 2% 5368559 $224,084 $5,373 2% 5366987 $260,000 $6,230 2% 5367818 $74,270 $1,641 2% 5367824 $218,500 $5,943 3% 5366876 $185,204 $5,738 3% 5366246 $144,641 $1,664 1% 5367101 $146,781 $1,468 1% 5368715 $179,695 $4,922 3% 5368435 $41,587 $1,245 3% 5366195 $217,998 $6,427 3% 5366767 $279,959 $9,223 3% 5367847 $161,080 $4,346 3% 5368146 $197,705 $5,929 3% 5368082 $179,058 $5,716 3% 5368147 $206,298 $4,411 2% 5366450 $120,561 $4,215 3% 5366674 $141,032 $4,032 3% 5366428 $188,622 $4,517 2% 5367166 $98,780 $2,939 3% 5366359 $63,600 $2,220 3% 5366438 $198,303 $4,755 2% 5366714 $249,212 $7,216 3% 5366200 $260,264 $7,542 3% 5367812 $158,104 $4,393 3% 5367846 $156,343 $4,214 3% 5368524 $398,797 $9,548 2% c 2004 The Murrayhill Company. All Rights Reserved. Section Three Analytics FICO Distribution by Status SAIL 2004-7 FICO Distribution by Status Mortgage Data Through: September 30, 2004 FICO Delinquency Percentage 500 Current 0.009 500 Delinquent 0.023 500 Paid Off 0.012 510 Current 0.024 510 Delinquent 0.056 510 Paid Off 0.04 520 Current 0.029 520 Delinquent 0.088 520 Paid Off 0.024 530 Current 0.033 530 Delinquent 0.099 530 Paid Off 0.064 540 Current 0.034 540 Delinquent 0.067 540 Paid Off 0.032 550 Current 0.036 550 Delinquent 0.07 550 Paid Off 0.03 560 Current 0.038 560 Delinquent 0.058 560 Paid Off 0.044 570 Current 0.038 570 Delinquent 0.058 570 Paid Off 0.038 580 Current 0.04 580 Delinquent 0.044 580 Paid Off 0.042 590 Current 0.048 590 Delinquent 0.05 590 Paid Off 0.048 600 Current 0.057 600 Delinquent 0.035 600 Paid Off 0.056 610 Current 0.065 610 Delinquent 0.044 610 Paid Off 0.058 620 Current 0.066 620 Delinquent 0.05 620 Paid Off 0.048 630 Current 0.074 630 Delinquent 0.041 630 Paid Off 0.087 640 Current 0.07 640 Delinquent 0.044 640 Paid Off 0.078 650 Current 0.055 650 Delinquent 0.038 650 Paid Off 0.046 660 Current 0.054 660 Delinquent 0.026 660 Paid Off 0.022 670 Current 0.044 670 Delinquent 0.018 670 Paid Off 0.032 680 Current 0.036 680 Delinquent 0.026 680 Paid Off 0.026 690 Current 0.033 690 Delinquent 0.006 690 Paid Off 0.026 700 Current 0.024 700 Delinquent 0.012 700 Paid Off 0.024 710 Current 0.02 710 Delinquent 0.015 710 Paid Off 0.024 720 Current 0.015 720 Delinquent 0.009 720 Paid Off 0.014 730 Current 0.015 730 Paid Off 0.04 740 Current 0.011 740 Delinquent 0.003 740 Paid Off 0.008 750 Current 0.01 750 Paid Off 0.006 760 Current 0.007 760 Delinquent 0.003 760 Paid Off 0.006 770 Current 0.005 770 Paid Off 0.002 780 Current 0.004 780 Delinquent 0.006 780 Paid Off 0.006 790 Current 0.002 790 Paid Off 0.006 800 Current 0.001 800 Paid Off 0.002 810 Current 0 810 Paid Off 0.002 Status # of Loans Average Std. Deviation Current 11,459 620 65.421 Delinquent 342 575 85.51 Paid Off 497 615 71.874 Total: 12,298 Copyright 2004, The Murrayhill Company. All rights reserved. LTV Distribution by Status SAIL 2004-7 Loan-to-Value Distribution by Status Mortgage Data Through: September 30, 2004 LTV Delinquency Percentage 0 Current 0.001 0 Paid Off 0.004 0.1 Paid Off 0.024 0.1 Current 0.013 0.1 Delinquent 0.02 0.2 Current 0.082 0.2 Delinquent 0.076 0.2 Paid Off 0.082 0.3 Delinquent 0.003 0.3 Current 0.004 0.4 Delinquent 0.009 0.4 Current 0.011 0.4 Paid Off 0.008 0.5 Paid Off 0.022 0.5 Delinquent 0.006 0.5 Current 0.024 0.6 Delinquent 0.047 0.6 Paid Off 0.06 0.6 Current 0.053 0.7 Current 0.114 0.7 Delinquent 0.146 0.7 Paid Off 0.127 0.8 Delinquent 0.383 0.8 Current 0.374 0.8 Paid Off 0.31 0.9 Delinquent 0.243 0.9 Current 0.219 0.9 Paid Off 0.264 1 Current 0.103 1 Paid Off 0.099 1 Delinquent 0.067 1.1 Current 0 Status # of Loans Average Std. Deviation Current 11,459 0.816 0.132 Delinquent 342 0.816 0.114 Paid Off 497 0.822 0.126 Total: 12,298 Copyright 2004, The Murrayhill Company. All rights reserved. Balance Distribution by Status SAIL 2004-7 Balance Distribution by Status Mortgage Data Through: September 30, 2004 BalanceDelinquency Percentage 0 Current 0.001 10000 Current 0.01 10000 Delinquent 0.015 20000 Current 0.01 20000 Delinquent 0.012 30000 Current 0.021 30000 Delinquent 0.035 40000 Current 0.024 40000 Delinquent 0.02 50000 Current 0.033 50000 Delinquent 0.05 60000 Current 0.043 60000 Delinquent 0.05 70000 Current 0.04 70000 Delinquent 0.079 80000 Current 0.044 80000 Delinquent 0.032 90000 Current 0.041 90000 Delinquent 0.029 100000 Current 0.048 100000 Delinquent 0.053 110000 Current 0.044 110000 Delinquent 0.032 120000 Current 0.048 120000 Delinquent 0.035 130000 Current 0.041 130000 Delinquent 0.044 140000 Current 0.042 140000 Delinquent 0.041 150000 Current 0.041 150000 Delinquent 0.032 160000 Current 0.036 160000 Delinquent 0.038 170000 Current 0.032 170000 Delinquent 0.056 180000 Current 0.031 180000 Delinquent 0.029 190000 Current 0.03 190000 Delinquent 0.026 200000 Current 0.03 200000 Delinquent 0.026 210000 Current 0.026 210000 Delinquent 0.029 220000 Current 0.025 220000 Delinquent 0.026 230000 Current 0.02 230000 Delinquent 0.012 240000 Current 0.021 240000 Delinquent 0.023 250000 Current 0.018 250000 Delinquent 0.015 260000 Current 0.018 260000 Delinquent 0.012 270000 Current 0.013 270000 Delinquent 0.023 280000 Current 0.015 280000 Delinquent 0.006 290000 Current 0.013 290000 Delinquent 0.018 300000 Current 0.013 300000 Delinquent 0.015 310000 Current 0.014 310000 Delinquent 0.012 320000 Current 0.01 330000 Current 0.011 330000 Delinquent 0.006 340000 Current 0.007 340000 Delinquent 0.012 350000 Current 0.007 350000 Delinquent 0.003 360000 Current 0.007 360000 Delinquent 0.006 370000 Current 0.006 370000 Delinquent 0.003 380000 Current 0.007 380000 Delinquent 0.003 390000 Current 0.005 390000 Delinquent 0.003 400000 Current 0.008 400000 Delinquent 0.009 410000 Current 0.004 420000 Current 0.004 430000 Current 0.004 430000 Delinquent 0.006 440000 Current 0.004 440000 Delinquent 0.006 450000 Current 0.004 450000 Delinquent 0.003 460000 Current 0.002 470000 Current 0.003 470000 Delinquent 0.006 480000 Current 0.002 480000 Delinquent 0.003 490000 Current 0.001 500000 Current 0.005 500000 Delinquent 0.006 510000 Current 0.001 520000 Current 0.001 530000 Current 0.001 540000 Current 0.001 550000 Current 0.001 560000 Current 0.001 570000 Current 0.001 570000 Delinquent 0.003 580000 Current 0.001 590000 Current 0 600000 Current 0.001 610000 Current 0 620000 Current 0 630000 Current 0 640000 Current 0.001 650000 Current 0.001 670000 Current 0 680000 Current 0 700000 Current 0 710000 Current 0 720000 Current 0 730000 Current 0 750000 Current 0.001 760000 Current 0 770000 Current 0 850000 Current 0 860000 Current 0 900000 Current 0 910000 Current 0 1000000 Current 0 1960000 Current 0 Status # of Loans AverageStd. Deviation Current 11,459 173,714.42 115,341.86 Delinquent 342 157,993.72 104,037.36 Total: 11,801 Mortgage Type Distribution by Status SAIL 2004-7 Mortgage Type Distribution by Status Mortgage Data Through: September 30, 2004 Mortgage Type Delinquency Percentage Investment Home Current 0.086 Investment Home Delinquent 0.067 Investment Home Paid Off 0.103 Primary Home Current 0.906 Primary Home Delinquent 0.927 Primary Home Paid Off 0.893 Second Home Current 0.008 Second Home Delinquent 0.006 Second Home Paid Off 0.004 Mortgage Type Loan Count Total Balance Avg. Balance Std. Deviation ARM 8,649 1,555,060,025.90 179,796.51 117,051.30 Fixed 3,649 489,567,370.95 134,164.80 113,136.18 Total: 12,298 2,044,627,396.85 Mortgage Type Distribution by Status SAIL 2004-7 Mortgage Type Distribution by Status Mortgage Data Through: September 30, 2004 Mortgage Type Delinquency Percentage Investment Home Current 0.086 Investment Home Delinquent 0.067 Investment Home Paid Off 0.103 Primary Home Current 0.906 Primary Home Delinquent 0.927 Primary Home Paid Off 0.893 Second Home Current 0.008 Second Home Delinquent 0.006 Second Home Paid Off 0.004 Mortgage Type Loan Count Total Balance Avg. Balance Std. Deviation ARM 8,649 1,555,060,025.90 179,796.51 117,051.30 Fixed 3,649 489,567,370.95 134,164.80 113,136.18 Total: 12,298 2,044,627,396.85 Purpose Distribution by Status SAIL 2004-7 Mortgage Purpose Distribution Mortgage Data Through: September 30, 2004 Origination Statistics Number of Loans: 12,414 Purpose Cash-out Number Percentage refinance 6,729 54.2% Purchase 4,886 39.4% Rate/term 717 5.8% Home 1 0.0% Other 81 0.7% Total 12,414 100% Current Loans Number of Loans: 11,459 Purpose Cash-out Number Percentage refinance 6,194 54.1% Purchase 4,525 39.5% Rate/term 666 5.8% Home 0 0.0% Other 74 0.6% Total 11,459 100% Delinquent Loans Number of Loans: 342 Purpose Cash-out Number Percentage refinance 170 49.7% Purchase 151 44.2% Rate/term 18 5.3% Home 0 0.0% Other 3 0.9% Total 342 100% Paid Off Loans Number of Loans: 497 Purpose Cash-out Number Percentage refinance 315 63.4% Purchase 154 31.0% Rate/term 24 4.8% Home 0 0.0% Other 4 0.8% Total 497 100% c 2004 The Murrayhill Company. All Rights Reserved. Ownership Distribution by Status SAIL 2004-7 Ownership Distribution by Status Mortgage Data Through: September 30, 2004 Ownership Type Delinquency Percentage Investment Home Current 0.086 Investment Home Delinquent 0.067 Investment Home Paid Off 0.103 Primary Home Current 0.906 Primary Home Delinquent 0.927 Primary Home Paid Off 0.893 Second Home Current 0.008 Second Home Delinquent 0.006 Second Home Paid Off 0.004 Title # of Loans Investment Home1,055 Primary Home 11,143 Second Home 100 Total: 12,298 Copyright 2004, The Murrayhill Company. All rights reserved. Delinquent Count Over Time SAIL 2004-7 Delinquent Count Over Time Mortgage Data Through: September 30, 2004 Total Count in Status AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 7/31/2004 49 3 1 7 0 8/31/2004 165 44 9 27 0 9/30/2004 183 82 24 53 0 c 2004 The Murrayhill Company. All Rights Reserved. Delinquent Balance Over Time SAIL 2004-7 Delinquent Balance Over Time Mortgage Data Through: September 30, 2004 Total Balance in Status AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 7/31/2004 $7,785,085 $695,000 $120,143 $1,031,000 - 8/31/2004 $27,485,388 $5,138,503 $1,615,997 $3,982,242 - 9/30/2004 $30,072,834 $14,171,734 $2,389,580 $7,399,702 - Conditional Prepayment Rates SAIL 2004-7 Conditional Prepayment Rates Mortgage Data Through: September 30, 2004 Date * Distribution Date CPR 3-Month MA 6-Month MA 12-Month MA 30-Sep-04 25-Oct-04 25.10% 31-Aug-04 25-Sep-04 19.09% 31-Jul-04 25-Aug-04 13.59% * Data in table is displayed for only the most recent 18 months. Historical Standard Default Assumption SAIL 2004-7 Historical SDA Performance Mortgage Data Through: September 30, 2004 Weighted Monthly Date Average Default Default CDR(F-R) SDA Curve SDA % Age Amt Rate 30-Sep-04 5.89 $0 0.00% 0.00% 0.12% 0% 31-Aug-04 4.89 $0 0.00% 0.00% 0.10% 0% 31-Jul-04 1.55 $0 0.00% 0.00% 0.03% 0% Averages: 4.11 $0 0.00% 0.00% 0.08% 0%

Filing Compare · Structured Asset Investment Loan Trust 2004-7