8-K 1 dsl05ar3_10508.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): August 19, 2005 DSLA MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2005-AR3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-121661-16 54-2175523 Pooling and Servicing Agreement) (Commission 54-2175524 (State or other File Number) 54-2175525 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Rd. 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 August 19, 2005 a distribution was made to holders of DSLA MORTGAGE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2005-AR3 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 2005-AR3 Trust, relating to the August 19, 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. DSLA MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2005-AR3 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 8/19/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-AR3 Trust, relating to the August 19, 2005 distribution. EX-99.1

Downey Savings and Loan Association Mortgage Pass-Through Certificates Record Date: 68/301/2005 Distribution Date: 78/19/2005 Downey Savings and Loan Association Mortgage Pass-Through Certificates Series 2005-AR3 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 1-A 23332UDT8 SEN 3.~~52000~~67688% 392,~~935~~060,~~000~~669.8004 1,~~117~~241,~~296~~343.3736 A-R-I 23332UEH3 SEN 5.~~52920~~53050% 0.00 0.00 A-R-II 23332UEK6 SEN 0.00000% 0.00 0.00 2-A1A 23332UDU5 SEN 3.~~50000~~65688% ~~247~~245,~~189~~694,~~347~~744.3376 ~~698~~773,~~872~~687.0984 2-A1B 23332UDV3 SEN 3.~~50000~~65688% 102,~~995~~372,~~561~~810.3932 ~~291~~322,~~237~~369.2093 2-A1C 23332UDW1 SEN 3.~~58000~~73688% 61,~~798~~424,~~334~~677.2760 ~~178~~197,~~725~~656.0056 2-A2 23332UDX9 SEN 3.~~58000~~73688% 43,~~609~~345,~~034~~357.8674 ~~126~~139,~~120~~479.3168 B-1 23332UDY7 SUB 34.~~94000~~09688% 64,~~053~~052,~~405~~976.4480 ~~230~~225,~~645~~970.0750 B-2 23332UDZ4 SUB 4.~~31000~~46688% 12,810,~~281~~195.5582 5349,~~372~~274.8816 B-3 23332UEA8 SUB 5.~~01000~~16688% 6,642,~~368~~323.2176 3429,~~782~~553.3341 B-4 23332UEB6 SUB 5.~~01000~~16688% 1,897,~~819~~806.4979 98,~~937~~443.8083 B-5 23332UEC4 SUB 5.~~01000~~16688% 5,693,~~458~~420.4737 2925,~~813~~331.4249 B-6 23332UED2 SUB 5.~~01000~~16688% 5,~~219~~218,~~003~~968.5967 2723,~~328~~220.9754 B-7 23332UEE0 SUB 5.~~01000~~16688% 3,320,~~523~~501.4624 1714,~~387~~773.7077 X-1 23332UEF7 SEN 1.25000% 0.00 ~~850~~818,~~464~~528.7787 X-2 23332UEG5 SEN 0.~~86536~~63865% 0.00 ~~695~~581,~~301~~196.8773 PO 23332UEJ9 SEN 0.00000% 100.00 0.01 Y DSL05AR3Y SUB 0.00000% 0.01 0.00 C DSL05AR3C SUB 0.00000% 0.01 0.00 Totals ~~948~~944,~~164~~534,~~238~~552.8893 4,~~361~~450,~~285~~830.7968

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses 1-A ~~874~~1,~~331~~294,209.7619 0.00 ~~392~~390,~~060~~766,~~669~~459.0485 12,~~991~~535,~~628~~552.1355 0.00 A-R-I 0.00 0.00 0.00 0.00 0.00 A-R-II 0.00 0.00 0.00 0.00 0.00 2-A1A 1,~~494~~404,~~602~~626.5848 0.00 ~~245~~244,~~694~~290,~~744~~118.7628 2,~~193~~178,~~474~~314.6732 0.00 2-A1B ~~622~~585,~~751~~261.0703 0.00 ~~102~~101,~~372~~787,~~810~~549.3228 ~~913~~907,~~988~~630.2796 0.00 2-A1C ~~373~~351,~~656~~162.6729 0.00 61,~~424~~073,~~677~~515.6031 ~~552~~548,~~381~~818.6785 0.00 2-A2 ~~263~~247,~~677~~803.1258 0.00 43,~~345~~097,~~357~~554.7416 ~~389~~387,~~797~~283.4326 0.00 B-1 ~~428~~104.6319 0.00 64,052,~~976~~872.8062 ~~231~~226,~~073~~074.7069 0.00 B-2 8520.7284 0.00 12,810,~~195~~174.8299 5349,~~458~~295.6000 0.00 B-3 4410.4580 0.00 6,642,~~323~~312.7696 3429,~~826~~564.7821 0.00 B-4 123.7009 0.00 1,897,~~806~~803.7970 98,~~950~~446.5092 0.00 B-5 389.1026 0.00 5,693,~~420~~411.3710 2925,~~851~~340.5275 0.00 B-6 348.9249 0.00 5,218,~~968~~960.6718 2723,~~363~~229.8903 0.00 B-7 225.2240 0.00 3,320,~~501~~495.2484 1714,~~409~~779.9217 0.00 X-1 0.00 0.00 0.00 ~~850~~818,~~464~~528.7787 0.00 X-2 0.00 0.00 0.00 ~~695~~581,~~301~~196.8773 0.00 PO 0.00 0.00 100.00 0.01 0.00 Y 0.00 0.00 0.01 0.00 0.00 C 0.00 0.00 0.01 0.00 0.00 Totals 3,~~629~~883,~~685~~224.9464 0.00 ~~944~~940,~~534~~651,~~552~~328.9329 78,~~990~~334,~~971~~055.7332 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) 1-A 393,486,000.00 392,~~935~~060,~~000~~669.8004 ~~1,905~~0.7800 ~~872~~1,~~425~~294,209.9819 0.00 0.00 A-R-I 100.00 0.00 0.00 0.00 0.00 0.00 A-R-II 0.00 0.00 0.00 0.00 0.00 0.00 2-A1A 247,824,000.00 ~~247~~245,~~189~~694,~~347~~744.3376 ~~2,046~~743.3393 1,~~492~~403,~~556~~882.2554 0.00 0.00 2-A1B 103,260,000.00 102,~~995~~372,~~561~~810.3932 ~~852~~309.6497 ~~621~~584,~~898~~951.4406 0.00 0.00 2-A1C 61,957,000.00 61,~~798~~424,~~334~~677.2760 ~~511~~185.5999 ~~373~~350,~~145~~976.0830 0.00 0.00 2-A2 43,721,000.00 43,~~609~~345,~~034~~357.8674 ~~361~~131.0124 ~~263~~247,~~316~~672.1133 0.00 0.00 B-1 64,127,000.00 64,~~053~~052,~~405~~976.4480 ~~428~~104.6319 0.00 0.00 0.00 B-2 12,825,000.00 12,810,~~281~~195.5582 8520.7284 0.00 0.00 0.00 B-3 6,650,000.00 6,642,~~368~~323.2176 4410.4580 0.00 0.00 0.00 B-4 1,900,000.00 1,897,~~819~~806.4979 123.7009 0.00 0.00 0.00 B-5 5,700,000.00 5,693,~~458~~420.4737 389.1026 0.00 0.00 0.00 B-6 5,225,000.00 5,~~219~~218,~~003~~968.5967 348.9249 0.00 0.00 0.00 B-7 3,324,338.60 3,320,~~523~~501.4624 225.2240 0.00 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 0.00 PO 100.00 100.00 0.00 0.00 0.00 0.00 C 0.00 0.01 0.00 0.00 0.00 0.00 Totals 949,999,538.60 ~~948~~944,~~164~~534,~~238~~552.8792 61,~~344~~533.0920 3,~~623~~881,~~341~~691.8642 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 1-A ~~874~~1,~~331~~294,209.7619 ~~392~~390,~~060~~766,~~669~~459.0485 0.~~99637768~~99308860 ~~874~~1,~~331~~294,209.7619 A-R-I 0.00 0.00 0.00000000 0.00 A-R-II 0.00 0.00 0.00000000 0.00 2-A1A 1,~~494~~404,~~602~~626.5848 ~~245~~244,~~694~~290,~~744~~118.7628 0.~~99140820~~98574036 1,~~494~~404,~~602~~626.5848 2-A1B ~~622~~585,~~751~~261.0703 ~~102~~101,~~372~~787,~~810~~549.3228 0.~~99140820~~98574036 ~~622~~585,~~751~~261.0703 2-A1C ~~373~~351,~~656~~162.6729 61,~~424~~073,~~677~~515.6031 0.~~99140820~~98574036 ~~373~~351,~~656~~162.6729 2-A2 ~~263~~247,~~677~~803.1258 43,~~345~~097,~~357~~554.7416 0.~~99140820~~98574036 ~~263~~247,~~677~~803.1258 B-1 ~~428~~104.6319 64,052,~~976~~872.8062 0.~~99884568~~99884405 ~~428~~104.6319 B-2 8520.7284 12,810,~~195~~174.8299 0.~~99884568~~99884405 8520.7284 B-3 4410.4580 6,642,~~323~~312.7696 0.~~99884568~~99884405 4410.4580 B-4 123.7009 1,897,~~806~~803.7970 0.~~99884568~~99884405 123.7009 B-5 389.1026 5,693,~~420~~411.3710 0.~~99884568~~99884405 389.1026 B-6 348.9249 5,218,~~968~~960.6718 0.~~99884568~~99884405 348.9249 B-7 225.2240 3,320,~~501~~495.2484 0.~~99884568~~99884405 225.2240 X-1 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00000000 0.00 PO 0.00 100.00 1.00000000 0.00 C 0.00 0.01 0.00000000 0.00 Totals 3,~~629~~883,~~685~~224.9464 ~~944~~940,~~534~~651,~~552~~328.9228 0.~~99424738~~99015977 3,~~629~~883,~~685~~224.9464

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A 393,486,000.00 ~~998~~996.~~59969808~~37768317 0.~~00484332~~00000000 23.~~21717159~~28908574 0.00000000 A-R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A-R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000 2-A1A 247,824,000.00 ~~997~~991.~~43909924~~40819598 0.~~00825719~~00300185 65.~~02264611~~66483690 0.00000000 2-A1B 103,260,000.00 ~~997~~991.~~43909926~~40819601 0.~~00825721~~00300184 65.~~02264614~~66483692 0.00000000 2-A1C 61,957,000.00 ~~997~~991.~~43909921~~40819601 0.~~00825718~~00300192 65.~~02264603~~66483690 0.00000000 2-A2 43,721,000.00 ~~997~~991.~~43909929~~40819606 0.~~00825713~~00300176 65.~~02264610~~66483681 0.00000000 B-1 64,127,000.00 998.~~85236234~~84567811 0.~~00668408~~00162474 0.00000000 0.00000000 B-2 12,825,000.00 998.~~85236257~~84567797 0.~~00668382~~00162495 0.00000000 0.00000000 B-3 6,650,000.00 998.~~85236241~~84567820 0.~~00668421~~00162406 0.00000000 0.00000000 B-4 1,900,000.00 998.~~85236316~~84567895 0.~~00668421~~00162632 0.00000000 0.00000000 B-5 5,700,000.00 998.~~85236316~~84567895 0.~~00668421~~00162456 0.00000000 0.00000000 B-6 5,225,000.00 998.~~85236172~~84567847 0.~~00668325~~00162488 0.00000000 0.00000000 B-7 3,324,338.60 998.~~85236119~~84567715 0.~~00668404~~00162438 0.00000000 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 Y 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution 1-A 0.00000000 23.~~22201491~~28908574 ~~996~~993.~~37768317~~08859743 0.~~99637768~~99308860 23.~~22201491~~28908574 A-R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-A1A 0.00000000 65.~~03090330~~66783879 ~~991~~985.~~40819598~~74035719 0.~~99140820~~98574036 65.~~03090330~~66783879 2-A1B 0.00000000 65.~~03090325~~66783876 ~~991~~985.~~40819601~~74035716 0.~~99140820~~98574036 65.~~03090325~~66783876 2-A1C 0.00000000 65.~~03090321~~66783882 ~~991~~985.~~40819601~~74035718 0.~~99140820~~98574036 65.~~03090321~~66783882 2-A2 0.00000000 65.~~03090323~~66783880 ~~991~~985.~~40819606~~74035727 0.~~99140820~~98574036 65.~~03090323~~66783880 B-1 0.00000000 0.~~00668408~~00162474 998.~~84567811~~84405352 0.~~99884568~~99884405 0.~~00668408~~00162474 B-2 0.00000000 0.~~00668382~~00162495 998.~~84567797~~84405380 0.~~99884568~~99884405 0.~~00668382~~00162495 B-3 0.00000000 0.~~00668421~~00162406 998.~~84567820~~84405414 0.~~99884568~~99884405 0.~~00668421~~00162406 B-4 0.00000000 0.~~00668421~~00162632 998.~~84567895~~84405263 0.~~99884568~~99884405 0.~~00668421~~00162632 B-5 0.00000000 0.~~00668421~~00162456 998.~~84567895~~84405263 0.~~99884568~~99884405 0.~~00668421~~00162456 B-6 0.00000000 0.~~00668325~~00162488 998.~~84567847~~84405359 0.~~99884568~~99884405 0.~~00668325~~00162488 B-7 0.00000000 0.~~00668404~~00162438 998.~~84567715~~84405277 0.~~99884568~~99884405 0.~~00668404~~00162438 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 Y 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 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 1-A 393,486,000.00 3.~~52000~~67688% 392,~~935~~060,~~000~~669.8004 1,~~114~~241,~~189~~343.0236 0.00 0.00 A-R-I 100.00 5.~~52920~~53050% 0.00 0.00 0.00 0.00 A-R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 2-A1A 247,824,000.00 3.~~50000~~65688% ~~247~~245,~~189~~694,~~347~~744.3376 ~~696~~773,~~936~~687.6384 0.00 0.00 2-A1B 103,260,000.00 3.~~50000~~65688% 102,~~995~~372,~~561~~810.3932 ~~290~~322,~~390~~369.2693 0.00 0.00 2-A1C 61,957,000.00 3.~~58000~~73688% 61,~~798~~424,~~334~~677.2760 ~~178~~197,~~219~~656.5356 0.00 0.00 2-A2 43,721,000.00 3.~~58000~~73688% 43,~~609~~345,~~034~~357.8674 ~~125~~139,~~763~~479.6168 0.00 0.00 B-1 64,127,000.00 34.~~94000~~09688% 64,~~053~~052,~~405~~976.4480 ~~203~~225,~~298~~970.3950 0.00 0.00 B-2 12,825,000.00 4.~~31000~~46688% 12,810,~~281~~195.5582 4449,~~476~~274.5916 0.00 0.00 B-3 6,650,000.00 5.~~01000~~16688% 6,642,~~368~~323.2176 2629,~~807~~553.4941 0.00 0.00 B-4 1,900,000.00 5.~~01000~~16688% 1,897,~~819~~806.4979 78,~~659~~443.2883 0.00 0.00 B-5 5,700,000.00 5.~~01000~~16688% 5,693,~~458~~420.4737 2225,~~977~~331.8549 0.00 0.00 B-6 5,225,000.00 5.~~01000~~16688% 5,~~219~~218,~~003~~968.5967 2123,~~063~~220.0354 0.00 0.00 B-7 3,324,338.60 5.~~01000~~16688% 3,320,~~523~~501.4624 1314,~~401~~773.0877 0.00 0.00 X-1 0.00 1.25000% ~~816~~785,~~446~~787,~~182~~711.3178 ~~850~~818,~~464~~528.7787 0.00 0.00 X-2 0.00 0.~~86536~~63865% ~~948~~944,~~164~~534,~~239~~553.0712 ~~683~~502,~~754~~692.2162 0.00 0.00 PO 100.00 0.00000% 100.00 0.00 0.00 0.00 Y 0.00 0.00000% 0.01 0.00 0.00 0.00 C 0.00 0.00000% 0.01 0.00 0.00 0.00 Totals 949,999,538.60 4,~~279~~372,~~401~~326.7456 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 1-A 0.00 0.00 1,~~117~~241,~~296~~343.3736 0.00 ~~392~~390,~~060~~766,~~669~~459.0485 A-R-I 0.00 0.00 0.00 0.00 0.00 A-R-II 0.00 0.00 0.00 0.00 0.00 2-A1A 0.00 0.00 ~~698~~773,~~872~~687.0984 0.00 ~~245~~244,~~694~~290,~~744~~118.7628 2-A1B 0.00 0.00 ~~291~~322,~~237~~369.2093 0.00 ~~102~~101,~~372~~787,~~810~~549.3228 2-A1C 0.00 0.00 ~~178~~197,~~725~~656.0056 0.00 61,~~424~~073,~~677~~515.6031 2-A2 0.00 0.00 ~~126~~139,~~120~~479.3168 0.00 43,~~345~~097,~~357~~554.7416 B-1 0.00 0.00 ~~230~~225,~~645~~970.0750 0.00 64,052,~~976~~872.8062 B-2 0.00 0.00 5349,~~372~~274.8816 0.00 12,810,~~195~~174.8299 B-3 0.00 0.00 3429,~~782~~553.3341 0.00 6,642,~~323~~312.7696 B-4 0.00 0.00 98,~~937~~443.8083 0.00 1,897,~~806~~803.7970 B-5 0.00 0.00 2925,~~813~~331.4249 0.00 5,693,~~420~~411.3710 B-6 0.00 0.00 2723,~~328~~220.9754 0.00 5,218,~~968~~960.6718 B-7 0.00 0.00 1714,~~387~~773.7077 0.00 3,320,~~501~~495.2484 X-1 0.00 0.00 ~~850~~818,~~464~~528.7787 0.00 ~~785~~756,~~787~~160,~~711~~031.7816 X-2 0.00 0.00 ~~695~~581,~~301~~196.8773 0.00 ~~944~~940,~~534~~651,~~553~~328.1249 PO 0.00 0.00 0.01 0.00 100.00 Y 0.00 0.00 0.00 0.00 0.01 C 0.00 0.00 0.00 0.00 0.01 Totals 0.00 0.00 4,~~361~~450,~~285~~830.7968 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 1-A 393,486,000.00 3.~~52000~~67688% ~~998~~996.~~59969808~~37768317 23.~~83158491~~15473323 0.00000000 0.00000000 A-R-I 100.00 5.~~52920~~53050% 0.00000000 0.00000000 0.00000000 0.00000000 A-R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 2-A1A 247,824,000.00 3.~~50000~~65688% ~~997~~991.~~43909924~~40819598 23.~~81222412~~12192459 0.00000000 0.00000000 2-A1B 103,260,000.00 3.~~50000~~65688% ~~997~~991.~~43909926~~40819601 23.~~81222409~~12192456 0.00000000 0.00000000 2-A1C 61,957,000.00 3.~~58000~~73688% ~~997~~991.~~43909921~~40819601 23.~~87650354~~19022161 0.00000000 0.00000000 2-A2 43,721,000.00 3.~~58000~~73688% ~~997~~991.~~43909929~~40819606 23.~~87650351~~19022163 0.00000000 0.00000000 B-1 64,127,000.00 34.~~94000~~09688% 998.~~85236234~~84567811 3.~~17024639~~52379653 0.00000000 0.00000000 B-2 12,825,000.00 4.~~31000~~46688% 998.~~85236257~~84567797 3.~~46796023~~84203977 0.00000000 0.00000000 B-3 6,650,000.00 5.~~01000~~16688% 998.~~85236241~~84567820 4.~~03120150~~44412180 0.00000000 0.00000000 B-4 1,900,000.00 5.~~01000~~16688% 998.~~85236316~~84567895 4.~~03120000~~44412105 0.00000000 0.00000000 B-5 5,700,000.00 5.~~01000~~16688% 998.~~85236316~~84567895 4.~~03120175~~44412105 0.00000000 0.00000000 B-6 5,225,000.00 5.~~01000~~16688% 998.~~85236172~~84567847 4.~~03120191~~44412249 0.00000000 0.00000000 B-7 3,324,338.60 5.~~01000~~16688% 998.~~85236119~~84567715 4.~~03120188~~44412311 0.00000000 0.00000000 X-1 0.00 1.25000% ~~960~~924.~~24475484~~18648651 10.~~00025495~~96269426 0.00000000 0.00000000 X-2 0.00 0.~~86536~~63865% ~~998~~994.~~06810459~~24738068 0.~~71974162~~52915038 0.00000000 0.00000000 PO 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 Y 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 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 1-A 0.00000000 0.00000000 23.~~83948189~~15473323 0.00000000 ~~996~~993.~~37768317~~08859743 A-R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-A1A 0.00000000 0.00000000 23.~~82003394~~12192459 0.00000000 ~~991~~985.~~40819598~~74035719 2-A1B 0.00000000 0.00000000 23.~~82042611~~12192456 0.00000000 ~~991~~985.~~40819601~~74035716 2-A1C 0.00000000 0.00000000 23.~~88466194~~19022161 0.00000000 ~~991~~985.~~40819601~~74035718 2-A2 0.00000000 0.00000000 23.~~88466206~~19022163 0.00000000 ~~991~~985.~~40819606~~74035727 B-1 0.00000000 0.00000000 3.~~59669203~~52379653 0.00000000 998.~~84567811~~84405352 B-2 0.00000000 0.00000000 43.~~16162807~~84203977 0.00000000 998.~~84567797~~84405380 B-3 0.00000000 0.00000000 54.~~23042556~~44412180 0.00000000 998.~~84567820~~84405414 B-4 0.00000000 0.00000000 54.~~23042105~~44412105 0.00000000 998.~~84567895~~84405263 B-5 0.00000000 0.00000000 54.~~23042456~~44412105 0.00000000 998.~~84567895~~84405263 B-6 0.00000000 0.00000000 54.~~23042488~~44412249 0.00000000 998.~~84567847~~84405359 B-7 0.00000000 0.00000000 54.~~23042388~~44412311 0.00000000 998.~~84567715~~84405277 X-1 0.00000000 0.00000000 10.~~00025495~~96269426 0.00000000 ~~924~~889.~~18648651~~34055847 X-2 0.00000000 0.00000000 0.~~73189706~~61178633 0.00000000 ~~994~~990.~~24738068~~15977382 PO 0.00000000 0.00000000 0.10000000 0.00000000 1000.00000000 Y 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Certificateholder Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage X-1 SEN 1.25000% ~~377,863,138.33~~ 363,683,240.82 349,979,845.56 0.00 0.00 9288.~~42596708~~94340474% X-1 SEN 1.25000% ~~438,583,043.98~~ 422,104,470.96 406,180,185.60 0.00 0.00 9288.~~41234406~~92600208% PO SEN 0.00000% 0.00 0.00 50.00 50.00 100.00000000% PO SEN 0.00000% 0.00 0.00 50.00 50.00 100.00000000%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 8,~~288~~564,~~676~~161.6192 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~11,594~~0.5700 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 078,504.0012 Total Deposits 8,~~300~~642,~~271~~666.1804 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~309~~308,~~299~~610.4572 Payment of Interest and Principal 78,~~990~~334,~~971~~055.7332 Total Withdrawals (Pool Distribution Amount) 8,~~300~~642,~~271~~666.1804 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~296~~295,~~301~~167.3205 AMBAC Premium 7,~~467~~933.1889 Master Servicing Fee 5,~~530~~509.9578 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~309~~308,~~299~~610.4572

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 0.00 ~~70,336~~0.3800 ~~70,336~~0.3800 0.00

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 1214 0 0 0 1214 4,~~031~~621,~~052~~724.6416 0.00 0.00 0.00 4,~~031~~621,~~052~~724.6416 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1214 0 0 0 1214 4,~~031~~621,~~052~~724.6416 0.00 0.00 0.00 4,~~031~~621,~~052~~724.6416 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~429185~~503416% 0.000000% 0.000000% 0.000000% 0.~~429185~~503416% 0.~~427356~~492095% 0.000000% 0.000000% 0.000000% 0.~~427356~~492095% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~429185~~503416% 0.000000% 0.000000% 0.000000% 0.~~429185~~503416% 0.~~427356~~492095% 0.000000% 0.000000% 0.000000% 0.~~427356~~492095%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 79 0 0 0 79 12,~~503~~355,~~862~~190.7062 0.00 0.00 0.00 12,~~503~~355,~~862~~190.7062 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 79 0 0 0 79 12,~~503~~355,~~862~~190.7062 0.00 0.00 0.00 12,~~503~~355,~~862~~190.7062 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~400000~~516944% 0.000000% 0.000000% 0.000000% 0.~~400000~~516944% 0.~~343677~~539944% 0.000000% 0.000000% 0.000000% 0.~~343677~~539944% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~400000~~516944% 0.000000% 0.000000% 0.000000% 0.~~400000~~516944% 0.~~343677~~539944% 0.000000% 0.000000% 0.000000% 0.~~343677~~539944% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 5 0 0 0 5 2,~~527~~266,~~189~~533.9454 0.00 0.00 0.00 2,~~527~~266,~~189~~533.9454 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 5 0 0 0 5 2,~~527~~266,~~189~~533.9454 0.00 0.00 0.00 2,~~527~~266,~~189~~533.9454 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~478011~~480769% 0.000000% 0.000000% 0.000000% 0.~~478011~~480769% 0.~~499766~~450602% 0.000000% 0.000000% 0.000000% 0.~~499766~~450602% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~478011~~480769% 0.000000% 0.000000% 0.000000% 0.~~478011~~480769% 0.~~499766~~450602% 0.000000% 0.000000% 0.000000% 0.~~499766~~450602%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~11,594~~0.5700

REO Detail - All Mortgage Loans in REO during Current Period

Summary 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 ~~Aug~~Sep-04 0.000% Original Principal Balance 0.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 0.00 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current REO Total ~~Dec~~Jan-0405 0.000% Loans in REO 0 ~~Jan~~Feb-05 0.000% Original Principal Balance 0.00 ~~Feb~~Mar-05 0.000% Current Principal Balance 0.00 ~~Mar~~Apr-05 0.000% ~~Apr~~May-05 0.000% ~~May~~Jun-05 0.000% ~~Jun~~Jul-05 0.000% ~~Jul~~Aug-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. 1 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 ~~Aug~~Sep-04 0.000% Original Principal Balance 0.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 0.00 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current REO Total ~~Dec~~Jan-0405 0.000% Loans in REO 0 ~~Jan~~Feb-05 0.000% Original Principal Balance 0.00 ~~Feb~~Mar-05 0.000% Current Principal Balance 0.00 ~~Mar~~Apr-05 0.000% ~~Apr~~May-05 0.000% ~~May~~Jun-05 0.000% ~~Jun~~Jul-05 0.000% ~~Jul~~Aug-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. 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 ~~Aug~~Sep-04 0.000% Original Principal Balance 0.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 0.00 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current REO Total ~~Dec~~Jan-0405 0.000% Loans in REO 0 ~~Jan~~Feb-05 0.000% Original Principal Balance 0.00 ~~Feb~~Mar-05 0.000% Current Principal Balance 0.00 ~~Mar~~Apr-05 0.000% ~~Apr~~May-05 0.000% ~~May~~Jun-05 0.000% ~~Jun~~Jul-05 0.000% ~~Jul~~Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Summary 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Aug~~Sep-04 0.000% Original Principal Balance 0.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 0.00 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current Foreclosure Total ~~Dec~~Jan-0405 0.000% Loans in Foreclosure 0 ~~Jan~~Feb-05 0.000% Original Principal Balance 0.00 ~~Feb~~Mar-05 0.000% Current Principal Balance 0.00 ~~Mar~~Apr-05 0.000% ~~Apr~~May-05 0.000% ~~May~~Jun-05 0.000% ~~Jun~~Jul-05 0.000% ~~Jul~~Aug-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. 1 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Aug~~Sep-04 0.000% Original Principal Balance 0.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 0.00 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current Foreclosure Total ~~Dec~~Jan-0405 0.000% Loans in Foreclosure 0 ~~Jan~~Feb-05 0.000% Original Principal Balance 0.00 ~~Feb~~Mar-05 0.000% Current Principal Balance 0.00 ~~Mar~~Apr-05 0.000% ~~Apr~~May-05 0.000% ~~May~~Jun-05 0.000% ~~Jun~~Jul-05 0.000% ~~Jul~~Aug-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. 2 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Aug~~Sep-04 0.000% Original Principal Balance 0.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 0.00 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current Foreclosure Total ~~Dec~~Jan-0405 0.000% Loans in Foreclosure 0 ~~Jan~~Feb-05 0.000% Original Principal Balance 0.00 ~~Feb~~Mar-05 0.000% Current Principal Balance 0.00 ~~Mar~~Apr-05 0.000% ~~Apr~~May-05 0.000% ~~May~~Jun-05 0.000% ~~Jun~~Jul-05 0.000% ~~Jul~~Aug-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.

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~807476~~946976% Weighted Average Net Coupon 5.~~432476~~571976% Weighted Average Pass-Through Rate 5.~~425476~~564976% Weighted Average Maturity(Stepdown Calculation) ~~409~~408 Beginning Scheduled Collateral Loan Count 2,~~810~~796 Number Of Loans Paid In Full 1415 Ending Scheduled Collateral Loan Count 2,~~796~~781 Beginning Scheduled Collateral Balance ~~948~~944,~~164~~534,~~239~~553.0712 Ending Scheduled Collateral Balance ~~944~~940,~~534~~651,~~553~~328.1249 Ending Actual Collateral Balance at 3001-~~Jun~~Aug-2005 ~~943~~939,~~254~~192,~~777~~790.8279 Monthly P&I Constant 2,~~833~~818,~~188~~158.5436 Special Servicing Fee 0.00 Prepayment Penalties 078,504.0012 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 61,~~344~~533.0920 Unscheduled Principal 5,~~385~~746,~~198~~003.4852

Group Level Collateral Statement Group 1 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 56.~~901838~~040205 5.~~726102~~866303 5.~~807476~~946976 Weighted Average Net Rate 5.~~526838~~665205 5.~~351102~~491303 5.~~432476~~571976 Weighted Average Maturity ~~400~~399 ~~417~~416 ~~409~~408 Beginning Loan Count 1,~~756~~750 1,~~054~~046 2,~~810~~796 Loans Paid In Full 9 6 815 14 Ending Loan Count 1,~~750~~741 1,~~046~~040 2,~~796~~781 Beginning Scheduled Balance ~~439~~438,~~046~~171,~~400~~845.6020 ~~509~~506,~~117~~362,~~838~~707.4792 ~~948~~944,~~164~~534,~~239~~553.0712 Ending Scheduled Balance ~~438~~436,~~171~~877,~~845~~636.2001 ~~506~~503,~~362~~773,~~707~~692.9248 ~~944~~940,~~534~~651,~~553~~328.1249 Record Date 0608/3001/2005 0608/3001/2005 0608/3001/2005 Principal And Interest Constant 1,~~335~~330,~~921~~999.7208 1,~~497~~487,~~266~~159.8228 2,~~833~~818,~~188~~158.5436 Scheduled Principal ~~2,129~~0.4200 41,~~214~~533.6720 61,~~344~~533.0920 Unscheduled Principal 12,~~697~~168,~~950~~749.9880 3,~~687~~577,~~247~~253.5072 5,~~385~~746,~~198~~003.4852 Scheduled Interest 2,~~159~~205,~~317~~539.3069 2,~~429~~475,~~383~~397.7756 4,~~588~~680,~~701~~937.0725 Servicing Fees ~~137~~136,~~202~~928.0070 ~~159~~158,~~099~~238.3235 ~~296~~295,~~301~~167.3205 Master Servicing Fees 2,~~561~~556.1000 2,~~969~~953.8578 5,~~530~~509.9578 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 0.00 0.00 0.00 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 2,~~019~~066,~~554~~054.2099 2,~~267,~~314,205.6043 4,~~286~~380,~~868~~260.8042 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.~~519838~~658205 5.~~344102~~484303 5.~~425476~~564976

Miscellaneous Reporting Group 1 Available Funds 23,~~923~~389,~~423~~542.5902 Senior Percentage 89.~~497386~~476474% Senior Prepayment Percentage 100.000000% Subordinate Percentage 10.~~502614~~523526% Subordinate Prepayment Percentage 0.000000% Group 2 Available Funds 54,~~075~~952,~~015~~447.3418 Senior Percentage 89.~~486617~~429501% Senior Prepayment Percentage 100.000000% Subordinate Percentage 10.~~513383~~570500% Subordinate Prepayment Percentage 0.000000%

Prepayment Detail - Prepayments during Current Period Summary Loans Paid In Full Repurchased Loans Original Current Original Current Principal Principal Principal Principal Group Count Balance Balance Count Balance Balance 1 69 1,~~531~~980,~~500~~750.00 1,~~528~~979,~~983~~442.7673 0 0.00 0.00 2 86 32,~~543~~979,~~700~~900.00 32,~~541~~981,~~011~~127.9412 0 0.00 0.00 Total 1415 54,~~075~~960,~~200~~650.00 54,~~069~~960,~~995~~569.7085 0 0.00 0.00

Prepayment Detail - Prepayments during Current Period (continued) Summary Substitution Loans Liquidated Loans Curtailments Original Current Original Current Principal Principal Principal Principal Curtailment Group Count Balance Balance Count Balance Balance Amount 1 0 0.00 0.00 0 0.00 0.00 ~~166~~186,~~387~~075.4523 2 0 0.00 0.00 0 0.00 0.00 ~~139~~591,~~850~~429.0872 Total 0 0.00 0.00 0 0.00 0.00 ~~306~~777,~~237~~504.5395

Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount 1 ~~9041461187~~9041449810 CA 5790.7800 01-~~Jun~~May-2005 ~~260~~252,000.00 ~~259~~251,~~874~~073.3278 1 ~~9041462565~~9041463357 CA 9065.0026 01-May-2005 ~~288~~310,000.00 ~~288~~311,~~150~~029.6552 1 ~~9041468174~~9041506023 CAAZ 75.00 01-May-2005 ~~202~~326,~~500~~250.00 ~~202~~326,~~762~~723.1910 1 ~~9041519125~~9041535873 CA 5736.4034 01-~~May~~Jun-2005 ~~221~~129,000.00 ~~221~~129,~~058~~403.7991 1 ~~9041521527~~9041538471 CA 8050.0089 01-May-2005 ~~316~~114,~~000~~500.00 ~~315~~114,~~855~~880.8226 1 ~~9041606070~~9041538588 CA 80.00 01-Jun-2005 ~~244~~312,000.00 ~~243~~311,~~861~~880.7604 21 ~~9041406257~~9041544230 CA 7464.2844 01-~~Apr~~Jun-2005 ~~386~~145,~~250~~000.00 ~~387~~145,~~043~~587.9821 21 ~~9041451808~~9041545609 CA 68.57 01-Jun-2005 168,000.00 168,201.56 1 9041554395 CA 80.00 01-~~May~~Jun-2005 ~~548~~224,000.00 ~~549~~223,~~767~~895.9719 2 ~~9041468539~~9032765331 CA 80.00 01-May-2005 ~~460~~584,000.00 ~~461~~584,~~020~~473.4598 2 ~~9041473000~~9041410119 CA 7960.2200 01-~~May~~Apr-2005 ~~446~~378,000.00 ~~446~~380,~~519~~284.3023 2 ~~9041542119~~9041470063 CA 7345.00 01-May-2005 ~~365~~450,000.00 ~~365~~451,~~533~~268.5350 2 ~~9041547217~~9041496555 CA 9089.0002 01-Jun-2005 ~~389~~365,~~250~~000.00 ~~389~~365,~~121~~209.1303 2 ~~9041554106~~9041530742 CA 8020.0089 01-~~Jun~~May-2005 ~~479~~705,~~200~~000.00 ~~479~~707,~~165~~164.2635 2 ~~9041571894~~9041543505 CA 7475.3800 01-Jun-2005 ~~470~~497,~~000~~900.00 ~~469~~497,~~225~~423.8091

Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning 1 ~~9041461187~~9041449810 Loan Paid in Full 0(1) 65.~~154~~033% 360 13 1 ~~9041462565~~9041463357 Loan Paid in Full 0 6.~~054~~283% 360 23 1 ~~9041468174~~9041506023 Loan Paid in Full 0 6.~~154~~233% 360 23 1 ~~9041519125~~9041535873 Loan Paid in Full 0 6.~~054~~033% 480 2 1 ~~9041521527~~9041538471 Loan Paid in Full 0 56.~~104~~283% 360 23 1 ~~9041606070~~9041538588 Loan Paid in Full 0 65.~~054~~133% 360 2 1 9041544230 Loan Paid in Full 0 6.583% 480 2 ~~9041406257~~1 9041545609 Loan Paid in Full ~~(1)~~0 56.~~804~~083% 360 3 2 ~~9041451808~~1 9041554395 Loan Paid in Full 0 65.~~104~~083% ~~480~~360 2 2 ~~9041468539~~9032765331 Loan Paid in Full 0 5.~~954~~283% ~~480~~360 23 2 ~~9041473000~~9041410119 Loan Paid in Full ~~(1)~~0 5.~~954~~833% 480 24 2 ~~9041542119~~9041470063 Loan Paid in Full 0(1) 6.~~254~~083% 360 23 2 ~~9041547217~~9041496555 Loan Paid in Full 0 46.~~904~~183% ~~480~~360 12 2 ~~9041554106~~9041530742 Loan Paid in Full 01 56.~~004~~183% ~~480~~360 13 2 ~~9041571894~~9041543505 Loan Paid in Full 0 45.~~754~~033% 360 12

Prepayment - Voluntary Prepayments

Summary SMM CPR PSA Current Month 0.~~567~~607% Current Month 67.~~595~~047% Current Month 21,~~233~~423.~~943~~684% 3 Month Average 0.~~000~~443% 3 Month Average 05.~~000~~161% 3 Month Average 01,861.~~000~~911% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Aug-2004 N/A N/A Aug-2004 N/A N/A~~ Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 1.841% N/A Jun-2005 1,928.105% N/A Jul-2005 6.595% N/A Jul-2005 2,233.943% N/A Aug-2005 7.047% N/A Aug-2005 1,423.684% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 1 SMM CPR PSA Current Month 0.~~386~~494% Current Month 45.~~535~~769% Current Month 1,~~510~~153.~~933~~511% 3 Month Average 0.~~000~~328% 3 Month Average 03.~~000~~849% 3 Month Average 01,301.~~000~~565% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Aug-2004 N/A N/A Aug-2004 N/A N/A~~ Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 1.244% N/A Jun-2005 1,240.252% N/A Jul-2005 4.535% N/A Jul-2005 1,510.933% N/A Aug-2005 5.769% N/A Aug-2005 1,153.511% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 2 SMM CPR PSA Current Month 0.~~723~~705% Current Month 8.~~338~~140% Current Month 21,~~866~~659.~~064~~464% 3 Month Average 0.~~000~~542% 3 Month Average 06.~~000~~277% 3 Month Average 02,367.~~000~~159% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Aug-2004 N/A N/A Aug-2004 N/A N/A~~ Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 2.353% N/A Jun-2005 2,575.948% N/A Jul-2005 8.338% N/A Jul-2005 2,866.064% N/A Aug-2005 8.140% N/A Aug-2005 1,659.464% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled Principal) Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12) PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS)) Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal Balance))

Realized Loss Report - Collateral Summary

MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Aug-2004 N/A N/A Aug-2004 N/A N/A~~ Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Aug-2004 N/A N/A Aug-2004 N/A N/A~~ Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 1 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Aug-2004 N/A N/A Aug-2004 N/A N/A~~ Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Aug-2004 N/A N/A Aug-2004 N/A N/A~~ Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 2 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Aug-2004 N/A N/A Aug-2004 N/A N/A~~ Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Aug-2004 N/A N/A Aug-2004 N/A N/A~~ Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Monthly Default Rate (MDR): sum(Beg Principal Balance of Liquidated Loans)/ sum(Beg Principal Balance). Conditional Default Rate (CDR): 1-((1-MDR)^12) SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR/(WAS*0.02) else if WAS is greater than 30 and less than or equal to 60 then CDR/0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR/(0.6 - ((WAS-60)*0.0095)) else if WAS is greater than 120 then CDR/0.03 Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

Filing Compare · DSLA Mortgage Loan Trust 2005-AR3