8-K 1 ace05he2_10507.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 25, 2005 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-HE2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-119047-07 Pooling and Servicing Agreement) (Commission 54-2169417 (State or other File Number) 54-2169418 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On July 25, 2005 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2005-HE2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-HE2 Trust, relating to the July 25, 2005 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-HE2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 7/27/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-HE2 Trust, relating to the July 25, 2005 distribution. EX-99.1

ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 56/3130/2005 Distribution Date: 67/2725/2005 ACE Securities Corporation Asset Backed Pass-Through Certificates Series ACE 2005-HE2 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution A-1 004421LY7 SEN 3.~~31000~~53438% ~~658~~647,~~341~~050,~~567~~100.4535 1,~~997~~778,~~518~~716.0428 A-2A 004421LZ4 SEN 3.~~18000~~40438% ~~137~~133,~~764~~419,~~926~~227.5686 ~~401~~353,~~584~~274.7625 A-2B 004421MA8 SEN 3.~~29000~~51438% 69,647,000.00 ~~210~~190,~~043~~373.7457 A-2C 004421MB6 SEN 3.~~40000~~62438% 39,120,000.00 ~~121~~110,~~924~~277.0080 M-1 004421MC4 MEZ 3.~~53000~~75438% 70,729,000.00 ~~228~~206,~~867~~533.2687 M-2 004421MD2 MEZ 3.~~54000~~76438% 39,023,000.00 ~~126~~114,~~629~~253.6453 M-3 004421ME0 MEZ 3.~~57000~~79438% 23,780,000.00 7770,~~820~~179.0517 M-4 004421MF7 MEZ 3.~~73000~~95438% 21,341,000.00 7265,~~968~~637.4400 M-5 004421MG5 MEZ 3.~~77000~~99438% 20,731,000.00 7164,~~642~~405.8883 M-6 004421MH3 MEZ 34.~~84000~~06438% 18,292,000.00 6457,~~387~~824.8439 M-7 004421MJ9 MEZ 4.~~32000~~54438% 15,243,000.00 6053,~~362~~876.2865 M-8 004421MK6 MEZ 4.~~46000~~68438% 15,243,000.00 6255,~~318~~536.4745 M-9 004421ML4 MEZ 5.~~07000~~29438% 12,195,000.00 5650,~~676~~217.2619 M-10 004421MM2 MEZ 6.~~34000~~56438% 12,195,000.00 7062,~~873~~263.2714 B-1 004421MN0 SUB 6.~~34000~~56438% 16,463,000.00 9584,~~677~~053.4797 B-2 004421MP5 SUB 6.~~34000~~56438% 7,317,000.00 4237,~~523~~357.9789 CE ACE05H2CE SUB 0.00000% 7,316,781.97 23,~~747~~066,~~425~~524.3297 P ACE05HE2P SEN 0.00000% 100.00 ~~254~~402,~~227~~088.0224 R ACE05H2R1 SUB 0.00000% 0.00 0.00 Totals 1,~~184~~169,~~742~~105,~~375~~210.9818 6,~~763~~823,~~470~~394.7119

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 1128,~~291~~538,~~467~~987.1095 0.00 ~~647~~618,~~050~~511,~~100~~112.3540 1330,~~288~~317,~~985~~704.1423 0.00 A-2A 49,~~345~~573,~~698~~144.7022 0.00 ~~133~~123,~~419~~846,~~227~~083.8664 49,~~747~~926,~~283~~418.4647 0.00 A-2B 0.00 0.00 69,647,000.00 ~~210~~190,~~043~~373.7457 0.00 A-2C 0.00 0.00 39,120,000.00 ~~121~~110,~~924~~277.0080 0.00 M-1 0.00 0.00 70,729,000.00 ~~228~~206,~~867~~533.2687 0.00 M-2 0.00 0.00 39,023,000.00 ~~126~~114,~~629~~253.6453 0.00 M-3 0.00 0.00 23,780,000.00 7770,~~820~~179.0517 0.00 M-4 0.00 0.00 21,341,000.00 7265,~~968~~637.4400 0.00 M-5 0.00 0.00 20,731,000.00 7164,~~642~~405.8883 0.00 M-6 0.00 0.00 18,292,000.00 6457,~~387~~824.8439 0.00 M-7 0.00 0.00 15,243,000.00 6053,~~362~~876.2865 0.00 M-8 0.00 0.00 15,243,000.00 6255,~~318~~536.4745 0.00 M-9 0.00 0.00 12,195,000.00 5650,~~676~~217.2619 0.00 M-10 0.00 0.00 12,195,000.00 7062,~~873~~263.2714 0.00 B-1 0.00 0.00 16,463,000.00 9584,~~677~~053.4797 0.00 B-2 0.00 0.00 7,317,000.00 4237,~~523~~357.9789 0.00 CE 0.00 0.00 7,316,781.97 23,~~747~~066,~~425~~524.3297 0.00 P 0.00 0.00 100.00 ~~254~~402,~~227~~088.0224 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 1538,~~637~~112,~~165~~132.8017 0.00 1,~~169~~130,~~105~~993,~~210~~078.1801 2244,~~400~~935,~~636~~526.5136 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 680,337,000.00 ~~658~~647,~~341~~050,~~567~~100.4535 0.00 1128,~~291~~538,~~467~~987.1095 0.00 0.00 A-2A 150,490,000.00 ~~137~~133,~~764~~419,~~926~~227.5686 0.00 49,~~345~~573,~~698~~144.7022 0.00 0.00 A-2B 69,647,000.00 69,647,000.00 0.00 0.00 0.00 0.00 A-2C 39,120,000.00 39,120,000.00 0.00 0.00 0.00 0.00 M-1 70,729,000.00 70,729,000.00 0.00 0.00 0.00 0.00 M-2 39,023,000.00 39,023,000.00 0.00 0.00 0.00 0.00 M-3 23,780,000.00 23,780,000.00 0.00 0.00 0.00 0.00 M-4 21,341,000.00 21,341,000.00 0.00 0.00 0.00 0.00 M-5 20,731,000.00 20,731,000.00 0.00 0.00 0.00 0.00 M-6 18,292,000.00 18,292,000.00 0.00 0.00 0.00 0.00 M-7 15,243,000.00 15,243,000.00 0.00 0.00 0.00 0.00 M-8 15,243,000.00 15,243,000.00 0.00 0.00 0.00 0.00 M-9 12,195,000.00 12,195,000.00 0.00 0.00 0.00 0.00 M-10 12,195,000.00 12,195,000.00 0.00 0.00 0.00 0.00 B-1 16,463,000.00 16,463,000.00 0.00 0.00 0.00 0.00 B-2 7,317,000.00 7,317,000.00 0.00 0.00 0.00 0.00 CE 7,317,562.49 7,316,781.97 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,219,463,662.49 1,~~184~~169,~~742~~105,~~375~~210.9818 0.00 1538,~~637~~112,~~165~~132.8017 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 1128,~~291~~538,~~467~~987.1095 ~~647~~618,~~050~~511,~~100~~112.3540 0.~~95107292~~90912461 1128,~~291~~538,~~467~~987.1095 A-2A 49,~~345~~573,~~698~~144.7022 ~~133~~123,~~419~~846,~~227~~083.8664 0.~~88656541~~82295225 49,~~345~~573,~~698~~144.7022 A-2B 0.00 69,647,000.00 1.00000000 0.00 A-2C 0.00 39,120,000.00 1.00000000 0.00 M-1 0.00 70,729,000.00 1.00000000 0.00 M-2 0.00 39,023,000.00 1.00000000 0.00 M-3 0.00 23,780,000.00 1.00000000 0.00 M-4 0.00 21,341,000.00 1.00000000 0.00 M-5 0.00 20,731,000.00 1.00000000 0.00 M-6 0.00 18,292,000.00 1.00000000 0.00 M-7 0.00 15,243,000.00 1.00000000 0.00 M-8 0.00 15,243,000.00 1.00000000 0.00 M-9 0.00 12,195,000.00 1.00000000 0.00 M-10 0.00 12,195,000.00 1.00000000 0.00 B-1 0.00 16,463,000.00 1.00000000 0.00 B-2 0.00 7,317,000.00 1.00000000 0.00 CE 0.00 7,316,781.97 0.99989334 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 1538,~~637~~112,~~165~~132.8017 1,~~169~~130,~~105~~993,~~210~~078.1801 0.~~95870443~~92745123 1538,~~637~~112,~~165~~132.8017

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 680,337,000.00 ~~967~~951.~~66979813~~07292467 0.00000000 1641.~~59687346~~94831084 0.00000000 A-2A 150,490,000.00 ~~915~~886.~~44239856~~56540541 0.00000000 2863.~~87699316~~61315848 0.00000000 A-2B 69,647,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-2C 39,120,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 70,729,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 39,023,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 23,780,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 21,341,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 20,731,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 18,292,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 15,243,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 15,243,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 12,195,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-10 12,195,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 16,463,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 7,317,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 7,317,562.49 999.89333607 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 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 A-1 0.00000000 1641.~~59687346~~94831084 ~~951~~909.~~07292467~~12461383 0.~~95107292~~90912461 1641.~~59687346~~94831084 A-2A 0.00000000 2863.~~87699316~~61315848 ~~886~~822.~~56540541~~95224693 0.~~88656541~~82295225 2863.~~87699316~~61315848 A-2B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-2C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 999.89333607 0.99989334 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 680,337,000.00 3.~~31000~~53438% ~~658~~647,~~341~~050,~~567~~100.4535 1,~~997~~778,~~518~~716.0428 0.00 0.00 A-2A 150,490,000.00 3.~~18000~~40438% ~~137~~133,~~764~~419,~~926~~227.5686 ~~401~~353,~~584~~274.7625 0.00 0.00 A-2B 69,647,000.00 3.~~29000~~51438% 69,647,000.00 ~~210~~190,~~043~~373.7457 0.00 0.00 A-2C 39,120,000.00 3.~~40000~~62438% 39,120,000.00 ~~121~~110,~~924~~277.0080 0.00 0.00 M-1 70,729,000.00 3.~~53000~~75438% 70,729,000.00 ~~228~~206,~~867~~533.2687 0.00 0.00 M-2 39,023,000.00 3.~~54000~~76438% 39,023,000.00 ~~126~~114,~~629~~253.6453 0.00 0.00 M-3 23,780,000.00 3.~~57000~~79438% 23,780,000.00 7770,~~820~~179.0517 0.00 0.00 M-4 21,341,000.00 3.~~73000~~95438% 21,341,000.00 7265,~~968~~637.4400 0.00 0.00 M-5 20,731,000.00 3.~~77000~~99438% 20,731,000.00 7164,~~642~~405.8883 0.00 0.00 M-6 18,292,000.00 34.~~84000~~06438% 18,292,000.00 6457,~~387~~824.8439 0.00 0.00 M-7 15,243,000.00 4.~~32000~~54438% 15,243,000.00 6053,~~362~~876.2865 0.00 0.00 M-8 15,243,000.00 4.~~46000~~68438% 15,243,000.00 6255,~~318~~536.4745 0.00 0.00 M-9 12,195,000.00 5.~~07000~~29438% 12,195,000.00 5650,~~676~~217.2619 0.00 0.00 M-10 12,195,000.00 6.~~34000~~56438% 12,195,000.00 7062,~~873~~263.2714 0.00 0.00 B-1 16,463,000.00 6.~~34000~~56438% 16,463,000.00 9584,~~677~~053.4797 0.00 0.00 B-2 7,317,000.00 6.~~34000~~56438% 7,317,000.00 4237,~~523~~357.9789 0.00 0.00 CE 7,317,562.49 0.00000% 1,~~184~~169,~~742~~105,~~375~~210.9818 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,219,463,662.49 3,~~761~~354,~~818~~780.3798 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 1,~~997~~778,~~518~~716.0428 0.00 ~~647~~618,~~050~~511,~~100~~112.3540 A-2A 0.00 0.00 ~~401~~353,~~584~~274.7625 0.00 ~~133~~123,~~419~~846,~~227~~083.8664 A-2B 0.00 0.00 ~~210~~190,~~043~~373.7457 0.00 69,647,000.00 A-2C 0.00 0.00 ~~121~~110,~~924~~277.0080 0.00 39,120,000.00 M-1 0.00 0.00 ~~228~~206,~~867~~533.2687 0.00 70,729,000.00 M-2 0.00 0.00 ~~126~~114,~~629~~253.6453 0.00 39,023,000.00 M-3 0.00 0.00 7770,~~820~~179.0517 0.00 23,780,000.00 M-4 0.00 0.00 7265,~~968~~637.4400 0.00 21,341,000.00 M-5 0.00 0.00 7164,~~642~~405.8883 0.00 20,731,000.00 M-6 0.00 0.00 6457,~~387~~824.8439 0.00 18,292,000.00 M-7 0.00 0.00 6053,~~362~~876.2865 0.00 15,243,000.00 M-8 0.00 0.00 6255,~~318~~536.4745 0.00 15,243,000.00 M-9 0.00 0.00 5650,~~676~~217.2619 0.00 12,195,000.00 M-10 0.00 0.00 7062,~~873~~263.2714 0.00 12,195,000.00 B-1 0.00 0.00 9584,~~677~~053.4797 0.00 16,463,000.00 B-2 0.00 0.00 4237,~~523~~357.9789 0.00 7,317,000.00 CE 0.00 0.00 23,~~747~~066,~~425~~524.3297 0.00 1,~~169~~130,~~105~~993,~~210~~078.1801 P 0.00 0.00 ~~254~~402,~~227~~088.0224 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 6,~~763~~823,~~470~~394.7119 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 680,337,000.00 3.~~31000~~53438% ~~967~~951.~~66979813~~07292467 2.~~93607145~~61446354 0.00000000 0.00000000 A-2A 150,490,000.00 3.~~18000~~40438% ~~915~~886.~~44239856~~56540541 2.~~66851459~~34749319 0.00000000 0.00000000 A-2B 69,647,000.00 3.~~29000~~51438% 1000.00000000 32.~~01583327~~73340661 0.00000000 0.00000000 A-2C 39,120,000.00 3.~~40000~~62438% 1000.00000000 32.~~11666667~~81896217 0.00000000 0.00000000 M-1 70,729,000.00 3.~~53000~~75438% 1000.00000000 32.~~23583339~~92007338 0.00000000 0.00000000 M-2 39,023,000.00 3.~~54000~~76438% 1000.00000000 32.~~24500013~~92785101 0.00000000 0.00000000 M-3 23,780,000.00 3.~~57000~~79438% 1000.00000000 32.~~27250000~~95118461 0.00000000 0.00000000 M-4 21,341,000.00 3.~~73000~~95438% 1000.00000000 3.~~41916686~~07562907 0.00000000 0.00000000 M-5 20,731,000.00 3.~~77000~~99438% 1000.00000000 3.~~45583329~~10674015 0.00000000 0.00000000 M-6 18,292,000.00 34.~~84000~~06438% 1000.00000000 3.~~52000000~~16118467 0.00000000 0.00000000 M-7 15,243,000.00 4.~~32000~~54438% 1000.00000000 3.~~96000000~~53451748 0.00000000 0.00000000 M-8 15,243,000.00 4.~~46000~~68438% 1000.00000000 43.~~08833366~~64340681 0.00000000 0.00000000 M-9 12,195,000.00 5.~~07000~~29438% 1000.00000000 4.~~64749979~~11785076 0.00000000 0.00000000 M-10 12,195,000.00 6.~~34000~~56438% 1000.00000000 5.~~81166626~~10562854 0.00000000 0.00000000 B-1 16,463,000.00 6.~~34000~~56438% 1000.00000000 5.~~81166677~~10562899 0.00000000 0.00000000 B-2 7,317,000.00 6.~~34000~~56438% 1000.00000000 5.~~81166735~~10562936 0.00000000 0.00000000 CE 7,317,562.49 0.00000% ~~161903~~159767.~~96427759~~02785629 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 2.~~93607145~~61446354 0.00000000 ~~951~~909.~~07292467~~12461383 A-2A 0.00000000 0.00000000 2.~~66851459~~34749319 0.00000000 ~~886~~822.~~56540541~~95224693 A-2B 0.00000000 0.00000000 32.~~01583327~~73340661 0.00000000 1000.00000000 A-2C 0.00000000 0.00000000 32.~~11666667~~81896217 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 32.~~23583339~~92007338 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 32.~~24500013~~92785101 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 32.~~27250000~~95118461 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~41916686~~07562907 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.~~45583329~~10674015 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.~~52000000~~16118467 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 3.~~96000000~~53451748 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 43.~~08833366~~64340681 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 4.~~64749979~~11785076 0.00000000 1000.00000000 M-10 0.00000000 0.00000000 5.~~81166626~~10562854 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 5.~~81166677~~10562899 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 5.~~81166735~~10562936 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~375~~419.~~45635227~~06372159 0.00000000 ~~159767~~154558.~~02785629~~71809166 P 0.00000000 0.00000000 ~~2542270~~4020882.~~20000000~~40000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2244,~~741~~782,~~425~~797.5120 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 40310,~~696~~127.4883 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~254~~402,~~227~~088.0224 Total Deposits 2345,~~036~~495,~~349~~013.0127 Withdrawals Reimbursement for Servicer Advances ~~109~~40,~~983~~696.0648 Payment of Service Fee ~~525~~518,~~729~~790.4443 Payment of Interest and Principal 2244,~~400~~935,~~636~~526.5136 Total Withdrawals (Pool Distribution Amount) 2345,~~036~~495,~~349~~013.0127 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~493~~487,~~642~~127.6716 Credit Risk Manager Fee - The Murrayhill Company 13,~~821~~639.9956 Master Servicing Fee Wells Fargo 18,~~264~~023.7871 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~525~~518,~~729~~790.4443

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 ~~11,419~~0.7300 ~~11,419~~0.7300 1,000.00

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1315 0 0 1315 12,~~896~~197,~~314~~672.6968 0.00 0.00 12,~~896~~197,~~314~~672.6968 30 Days 27169 0 0 0 27169 527,~~145~~016,~~167~~874.5281 0.00 0.00 0.00 527,~~145~~016,~~167~~874.5281 60 Days 856 0 0 0 856 19,~~359~~181,~~321~~043.7862 0.00 0.00 0.00 19,~~359~~181,~~321~~043.7862 90 Days 129 0 0 0 129 ~~440~~5,~~000~~490,768.0094 0.00 0.00 0.00 ~~440~~5,~~000~~490,768.0094 120 Days 025 03 01 0 029 04,845,378.0096 0273,390.00 07,000.00 0.00 05,125,768.0096 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 36279 1318 01 0 49298 646,~~944~~534,~~489~~066.3033 12,~~896~~471,~~314~~062.6968 07,000.00 0.00 849,~~840~~012,~~803~~129.9901 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.~~205729~~244419% 0.000000% 0.000000% 0.~~205729~~244419% 0.~~162097~~194172% 0.000000% 0.000000% 0.~~162097~~194172% 30 Days 02.~~427283~~753788% 0.000000% 0.000000% 0.000000% 02.~~427283~~753788% 02.~~439809~~387034% 0.000000% 0.000000% 0.000000% 02.~~439809~~387034% 60 Days 0.~~126602~~912498% 0.000000% 0.000000% 0.000000% 0.~~126602~~912498% 0.~~116195~~811177% 0.000000% 0.000000% 0.000000% 0.~~116195~~811177% 90 Days 0.~~015825~~472544% 0.000000% 0.000000% 0.000000% 0.~~015825~~472544% 0.~~037611~~485128% 0.000000% 0.000000% 0.000000% 0.~~037611~~485128% 120 Days 0.~~000000~~407365% 0.~~000000~~048884% 0.~~000000~~016295% 0.000000% 0.~~000000~~472544% 0.~~000000~~428106% 0.~~000000~~024155% 0.~~000000~~000618% 0.000000% 0.~~000000~~452879% 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 04.~~569710~~546195% 0.~~205729~~293303% 0.~~000000~~016295% 0.000000% 04.~~775439~~855793% 04.~~593615~~111445% 0.~~162097~~218327% 0.~~000000~~000618% 0.000000% 04.~~755712~~330391%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 Sub Grp 1 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 45 0 0 45 ~~182~~220,~~456~~976.3072 0.00 0.00 ~~182~~220,~~456~~976.3072 30 Days 436 0 0 0 436 ~~230~~1,~~913~~549,813.6922 0.00 0.00 0.00 ~~230~~1,~~913~~549,813.6922 60 Days 4 0 0 0 4 ~~288~~146,~~653~~795.6564 0.00 0.00 0.00 ~~288~~146,~~653~~795.6564 90 Days 09 0 0 0 09 0353,141.0050 0.00 0.00 0.00 0353,141.0050 120 Days 05 01 01 0 07 0326,964.0068 015,999.00 07,000.00 0.00 0349,963.0068 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 854 46 01 0 1261 ~~519~~2,~~567~~376,715.3404 ~~182~~236,~~456~~975.3072 07,000.00 0.00 ~~702~~2,~~023~~620,690.6476 0-29 Days 0.~~256739~~327869% 0.000000% 0.000000% 0.~~256739~~327869% 0.~~146272~~180947% 0.000000% 0.000000% 0.~~146272~~180947% 30 Days 02.~~256739~~360656% 0.000000% 0.000000% 0.000000% 02.~~256739~~360656% 01.~~185119~~269066% 0.000000% 0.000000% 0.000000% 01.~~185119~~269066% 60 Days 0.~~256739~~262295% 0.000000% 0.000000% 0.000000% 0.~~256739~~262295% 0.~~231409~~120204% 0.000000% 0.000000% 0.000000% 0.~~231409~~120204% 90 Days 0.~~000000~~590164% 0.000000% 0.000000% 0.000000% 0.~~000000~~590164% 0.~~000000~~289170% 0.000000% 0.000000% 0.000000% 0.~~000000~~289170% 120 Days 0.~~000000~~327869% 0.~~000000~~065574% 0.~~000000~~065574% 0.000000% 0.~~000000~~459016% 0.~~000000~~267735% 0.~~000000~~013101% 0.~~000000~~005732% 0.000000% 0.~~000000~~286568% 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 03.~~513479~~540984% 0.~~256739~~393443% 0.~~000000~~065574% 0.000000% 04.~~770218~~000000% 01.~~416528~~946175% 0.~~146272~~194048% 0.~~000000~~005732% 0.000000% 02.~~562800~~145955% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 Sub Grp 2 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 67 0 0 67 ~~768~~1,~~447~~031,663.7114 0.00 0.00 ~~768~~1,~~447~~031,663.7114 30 Days 17115 0 0 0 17115 320,~~195~~150,~~201~~954.2753 0.00 0.00 0.00 320,~~195~~150,~~201~~954.2753 60 Days 140 0 0 0 140 ~~216~~5,~~000~~817,592.0012 0.00 0.00 0.00 ~~216~~5,~~000~~817,592.0012 90 Days 112 0 0 0 112 ~~440~~1,~~000~~739,587.0008 0.00 0.00 0.00 ~~440~~1,~~000~~739,587.0008 120 Days 015 02 0 0 017 02,919,724.0063 0257,391.00 0.00 0.00 03,177,115.0063 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 19182 69 0 0 25191 330,~~851~~627,~~201~~858.2736 ~~768~~1,~~447~~289,054.7114 0.00 0.00 431,~~619~~916,~~648~~912.9850 0-29 Days 0.~~155723~~187768% 0.000000% 0.000000% 0.~~155723~~187768% 0.~~105914~~147451% 0.000000% 0.000000% 0.~~105914~~147451% 30 Days 03.~~441215~~084764% 0.000000% 0.000000% 0.000000% 03.~~441215~~084764% 02.~~440392~~880095% 0.000000% 0.000000% 0.000000% 02.~~440392~~880095% 60 Days 01.~~025954~~072961% 0.000000% 0.000000% 0.000000% 01.~~025954~~072961% 0.~~029771~~831485% 0.000000% 0.000000% 0.000000% 0.~~029771~~831485% 90 Days 0.~~025954~~321888% 0.000000% 0.000000% 0.000000% 0.~~025954~~321888% 0.~~060645~~248632% 0.000000% 0.000000% 0.000000% 0.~~060645~~248632% 120 Days 0.~~000000~~402361% 0.~~000000~~053648% 0.000000% 0.000000% 0.~~000000~~456009% 0.~~000000~~417304% 0.~~000000~~036788% 0.000000% 0.000000% 0.~~000000~~454092% 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 04.~~493122~~881974% 0.~~155723~~241416% 0.000000% 0.000000% 05.~~648845~~123391% 04.~~530808~~377516% 0.~~105914~~184239% 0.000000% 0.000000% 04.~~636722~~561756% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 Sub Grp 1 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 1 116,~~719~~647.2473 0.00 0.00 116,~~719~~647.2473 30 Days 38 0 0 0 38 ~~285~~635,~~636~~897.5644 0.00 0.00 0.00 ~~285~~635,~~636~~897.5644 60 Days 15 0 0 0 15 94432,~~082~~759.1398 0.00 0.00 0.00 94432,~~082~~759.1398 90 Days 01 0 0 0 01 075,975.0017 0.00 0.00 0.00 075,975.0017 120 Days 02 0 0 0 02 0238,000.00 0.00 0.00 0.00 0238,000.00 150 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 416 1 0 0 517 ~~379~~1,~~718~~382,632.6959 116,~~719~~647.2473 0.00 0.00 ~~496~~1,~~437~~499,280.9332 0-29 Days 0.~~315457~~319489% 0.000000% 0.000000% 0.~~315457~~319489% 0.~~261118~~263882% 0.000000% 0.000000% 0.~~261118~~263882% 30 Days 02.~~946372~~555911% 0.000000% 0.000000% 0.000000% 02.~~946372~~555911% 01.~~639011~~438537% 0.000000% 0.000000% 0.000000% 01.~~639011~~438537% 60 Days 01.~~315457~~597444% 0.000000% 0.000000% 0.000000% 01.~~315457~~597444% 0.~~210475~~978996% 0.000000% 0.000000% 0.000000% 0.~~210475~~978996% 90 Days 0.~~000000~~319489% 0.000000% 0.000000% 0.000000% 0.~~000000~~319489% 0.~~000000~~171872% 0.000000% 0.000000% 0.000000% 0.~~000000~~171872% 120 Days 0.~~000000~~638978% 0.000000% 0.000000% 0.000000% 0.~~000000~~638978% 0.~~000000~~538407% 0.000000% 0.000000% 0.000000% 0.~~000000~~538407% 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 15.~~261830~~111821% 0.~~315457~~319489% 0.000000% 0.000000% 15.~~577287~~431310% 03.~~849486~~127813% 0.~~261118~~263882% 0.000000% 0.000000% 13.~~110604~~391695% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 Sub Grp 2 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 2 0 0 2 828,~~691~~385.4409 0.00 0.00 828,~~691~~385.4409 30 Days 310 0 0 0 310 14,~~433~~680,~~416~~209.0062 0.00 0.00 0.00 14,~~433~~680,~~416~~209.0062 60 Days 27 0 0 0 27 ~~760~~2,~~586~~783,895.0088 0.00 0.00 0.00 ~~760~~2,~~586~~783,895.0088 90 Days 07 0 0 0 07 03,322,065.0019 0.00 0.00 0.00 03,322,065.0019 120 Days 03 0 0 0 03 01,360,689.0065 0.00 0.00 0.00 01,360,689.0065 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 527 2 0 0 729 212,~~194~~146,~~002~~860.0034 828,~~691~~385.4409 0.00 0.00 312,~~022~~975,~~693~~245.4443 0-29 Days 0.~~338409~~350263% 0.000000% 0.000000% 0.~~338409~~350263% 0.~~301462~~311624% 0.000000% 0.000000% 0.~~301462~~311624% 30 Days 01.~~507614~~751313% 0.000000% 0.000000% 0.000000% 01.~~507614~~751313% 01.~~521449~~760616% 0.000000% 0.000000% 0.000000% 01.~~521449~~760616% 60 Days 01.~~338409~~225919% 0.000000% 0.000000% 0.000000% 01.~~338409~~225919% 01.~~276687~~047254% 0.000000% 0.000000% 0.000000% 01.~~276687~~047254% 90 Days 01.~~000000~~225919% 0.000000% 0.000000% 0.000000% 01.~~000000~~225919% 01.~~000000~~249705% 0.000000% 0.000000% 0.000000% 01.~~000000~~249705% 120 Days 0.~~000000~~525394% 0.000000% 0.000000% 0.000000% 0.~~000000~~525394% 0.~~000000~~511868% 0.000000% 0.000000% 0.000000% 0.~~000000~~511868% 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 04.~~846024~~728546% 0.~~338409~~350263% 0.000000% 0.000000% 15.~~184433~~078809% 04.~~798136~~569443% 0.~~301462~~311624% 0.000000% 0.000000% 14.~~099598~~881067%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 40310,~~696~~127.4883

SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class P 1,219,463,562.49 99.99999180% 1,~~169~~130,~~105~~992,~~110~~978.1801 99.~~99999145~~99999116% 0.000009% 0.000000% Class CE 1,212,146,000.00 99.39992779% 1,~~161~~123,~~788~~676,~~328~~196.2104 99.~~37414683~~35305687% 0.~~625845~~646934% 0.000000% Class B-2 1,204,829,000.00 98.79990992% 1,~~154~~116,~~471~~359,~~328~~196.2104 98.~~74828357~~70610331% 0.~~625863~~646954% 0.000000% Class B-1 1,188,366,000.00 97.44989019% 1,~~138~~099,~~008~~896,~~328~~196.2104 97.~~34011262~~25047990% 1.~~408171~~455623% 0.000000% Class M-4 1,073,126,000.00 87.99983411% 1984,~~022~~656,~~768,328~~196.2104 87.~~48300147~~06120446% 1.~~825413~~886926% 0.000000% Class M-3 1,049,346,000.00 86.04979650% ~~998~~960,~~988~~876,~~328~~196.2104 8584.~~44896725~~95862749% 2.~~034034~~102577% 0.000000% Class M-2 1,010,323,000.00 82.84978315% ~~959~~921,~~965~~853,~~328~~196.2104 8281.~~11111539~~50829691% 3.~~337852~~450331% 0.000000% Class M-1 939,594,000.00 77.04977433% ~~889~~851,~~236~~124,~~328~~196.2104 7675.~~06127494~~25458932% 6.~~049840~~253708% 0.000000% Class A1-A 0.00 0.00000000% 0.00 0.00000000% 5554.~~345755~~687436% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

REO Detail - All Mortgage Loans in REO during Current Period

~~COLLATERAL~~Summary ~~STATEMENT~~12 ~~Collateral~~Month ~~Description~~REO ~~Mixed~~History* ~~Fixed~~New &REO ~~Arm~~Loans ~~Weighted~~Month ~~Average~~REO ~~Gross~~Percentage ~~Coupon~~Loans 7in REO 0 Aug-04 0.~~127890~~000% ~~Weighted~~Original ~~Average~~Principal ~~Net~~Balance ~~Coupon~~0.00 6Sep-04 0.~~627890~~000% ~~Weighted~~Current ~~Average~~Principal ~~Pass~~Balance 0.00 Oct-~~Through~~04 ~~Rate~~0.000% 6Nov-04 0.~~595390~~000% ~~Weighted~~Current ~~Average~~REO ~~Maturity(Stepdown~~Total ~~Calculation)~~Dec-04 ~~352~~0.000% ~~Beginning~~Loans ~~Scheduled~~in ~~Collateral~~REO ~~Loan~~0 ~~Count~~Jan-05 ~~6,393~~0.000% ~~Number~~Original OfPrincipal Balance 0.00 Feb-05 0.000% Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 1 Sub Grp 1 12 Month REO History* New REO Loans ~~Paid~~Month InREO ~~Full~~Percentage 74Loans ~~Ending~~in ~~Scheduled~~REO ~~Collateral~~0 ~~Loan~~Aug-04 ~~Count~~0.000% ~~6,319~~Original ~~Beginning~~Principal ~~Scheduled~~Balance ~~Collateral~~0.00 Sep-04 0.000% Current Principal Balance ~~1,184,742,375~~0.9800 ~~Ending~~Oct-04 ~~Scheduled~~0.000% ~~Collateral~~Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance ~~1,169,105,210~~0.1800 ~~Ending~~Feb-05 ~~Actual~~0.000% ~~Collateral~~Current Principal Balance at0.00 31Mar-05 0.000% Apr-05 0.000% May-~~2005~~05 0.000% Jun-05 0.000% Jul-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 1~~,169,864,199~~ Sub Grp 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.16000% ~~Monthly~~Original ~~P&I~~Principal ~~Constant~~Balance ~~7,773,621~~0.1600 ~~Special~~Sep-04 ~~Servicing~~0.000% ~~Fee~~Current Principal Balance 0.00 ~~Prepayment~~Oct-04 ~~Penalties~~0.000% ~~254,227~~Nov-04 0.02000% ~~Realized~~Current ~~Loss~~REO ~~Amount~~Total Dec-04 0.00000% ~~Cumulative~~Loans ~~Realized~~in ~~Loss~~REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Scheduled~~Feb-05 0.000% Current Principal ~~736,360~~Balance 0.2500 ~~Unscheduled~~Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 2 Sub Grp 1 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal ~~14,900,805~~Balance 0.5500 ~~Required~~Sep-04 ~~Overcollateralization~~0.000% ~~Amount~~Current Principal Balance 0.00 ~~Overcollateralized~~Oct-04 ~~Increase~~0.000% ~~Amount~~Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Overcollateralized~~Feb-05 ~~reduction~~0.000% ~~Amount~~Current Principal Balance 0.00 ~~Specified~~Mar-05 ~~O/C~~0.000% ~~Amount~~Apr-05 ~~7,316,781~~0.97000% ~~Overcollateralized~~May-05 ~~Amount~~0.000% ~~7,316,781~~Jun-05 0.97000% ~~Overcollateralized~~Jul-05 ~~Deficiency~~0.000% ~~Amount~~*The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 2 Sub Grp 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal Balance 0.00 ~~Base~~Sep-04 ~~Overcollateralized~~0.000% ~~Amount~~Current Principal Balance 0.00 ~~Extra~~Oct-04 ~~principal~~0.000% ~~distribution~~Nov-04 ~~Amount~~0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Excess~~Feb-05 ~~Cash~~0.000% ~~Amount~~Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

~~Group~~REO Level Collateral Statement Group Group 1 Sub Grp 1 Group 1 Sub Grp 2 Group 2 Sub Grp 1 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 8.079579 7.098635 8.516539 Weighted Average Net Rate 7.579579 6.598635 8.016539 Weighted Average Maturity 328 356 323 Beginning Loan ~~Count~~Detail ~~1,576~~- ~~3,897~~All ~~320~~Mortgage Loans ~~Paid~~in InREO ~~Full~~during 18Current 44Period 3Month ~~Ending~~ Loan ~~Count~~First ~~1,558~~Original ~~3,853~~Loan ~~317~~Entered ~~Beginning~~Payment ~~Scheduled~~LTV ~~Balance~~at ~~126,059,436.95~~Principal ~~734,925,211.52~~Group ~~44,967,639.56~~Number ~~Ending~~REO ~~Scheduled Balance 124,626,581.89 725,066,599.48 44,666,524.24 Record~~ Date ~~05/31/2005~~State ~~05/31/2005~~Origination ~~05/31/2005~~Balance ~~Principal~~No ~~And~~REO ~~Interest~~loans ~~Constant~~this ~~963,671~~period.56 4,799,373.94 351,651.36 Scheduled Principal 114,915.60 451,902.26 32,510.81 Unscheduled Principal 1,317,939.46 9,406,709.78 268,604.51 Scheduled Interest 848,755.96 4,347,471.68 319,140.55 Servicing Fees 52,524.77 306,218.84 18,736.52 Master Servicing Fees 1,943.42 11,330.10 693.25 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 1,470.69 8,574.13 524.62 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 792,817.08 4,021,348.61 299,186.16 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 7.547079 6.566135 7.984039

~~Group~~REO ~~Level~~Loan ~~Collateral~~Detail ~~Statement~~- ~~Group~~All ~~Group~~Mortgage 2Loans ~~Sub~~in ~~Grp~~REO 2during ~~Total~~Current ~~Collateral~~Period ~~Description~~(continued) ~~Mixed~~Current ~~ARM~~Paid ~~Mixed~~Current ~~Fixed~~Approximate ~~& Arm Weighted Average Coupon Rate 6.550704 7.127890 Weighted Average Net Rate 6.050704 6.627890 Weighted Average Maturity 356 352 Beginning~~ Loan ~~Count~~Principal ~~600~~To ~~6,393~~Months ~~Loans Paid In Full 9 74 Ending~~ Loan ~~Count~~Delinquent ~~591~~Group ~~6,319~~Number ~~Beginning Scheduled~~ Balance ~~278,790,087.95 1,184,742,375.98 Ending scheduled Balance 274,745,504.57 1,169,105,210.18 Record~~ Date ~~05/31/2005~~Delinquent ~~05/31/2005~~Rate ~~Principal And~~ Interest ~~Constant~~No ~~1,658,924.30~~REO ~~7,773,621.16~~loans ~~Scheduled~~this ~~Principal 137,031~~period.58 736,360.25 Unscheduled Principal 3,907,551.80 14,900,805.55 Scheduled Interest 1,521,892.72 7,037,260.91 Servicing Fees 116,162.54 493,642.67 Master Servicing Fees 4,298.01 18,264.78 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 3,252.55 13,821.99 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 1,398,179.62 6,511,531.47 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 6.018204 6.595390

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Prepayment - Voluntary Prepayments

Realized Loss Report - Collateral Summary

Filing Compare · ACE Securities Corp Home Equity Loan Trust Series 2005-HE2