8-K 1 fld05001_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 25, 2005 FIELDSTONE MORTGAGE INVESTMENT TRUST Mortgage-Backed Notes, Series 2005-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-120575-08 Pooling and Servicing Agreement) (Commission N/A (State or other File Number) IRS EIN jurisdiction 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 August 25, 2005 a distribution was made to holders of FIELDSTONE MORTGAGE INVESTMENT TRUST, Mortgage-Backed Notes, Series 2005-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-1 Trust, relating to the August 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. FIELDSTONE MORTGAGE INVESTMENT TRUST Mortgage-Backed Notes, Series 2005-1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trust Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 8/25/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-1 Trust, relating to the August 25, 2005 distribution. EX-99.1

Fieldstone Mortgage Company Mortgage-Backed Notes Record Date: 67/3029/2005 Distribution Date: 78/25/2005 Fieldstone Mortgage Company Mortgage-Backed Notes Series 2005-1 Contact: CTSLink Customer Service Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 @ www.ctslink.com/cmbs Telephone: (301) 815-6600 Fax: (301) 815-6600 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution 1-A1 31659TDK8 SEN 3.~~56438~~71000% ~~220~~213,~~246~~486,~~809~~806.0622 ~~610~~682,~~589~~031.2504 1-A2 31659TCW3 SEN 3.~~60438~~75000% 5553,~~061~~371,~~702~~701.2755 ~~154~~172,~~360~~346.3412 2-A1 31659TCX1 SEN 3.~~43438~~58000% ~~122~~112,~~781~~021,~~272~~852.8718 ~~327~~345,~~971~~338.4348 2-A2 31659TCY9 SEN 3.~~53438~~68000% 149,423,000.00 ~~410~~473,~~758~~504.1888 2-A3 31659TCZ6 SEN 3.~~66438~~81000% 10,856,000.00 3035,~~940~~616.4073 A-IO 31659TDL6 SEN 4.50000% 0.00 ~~781~~682,~~312~~950.5000 M1 31659TDA0 MEZ 3.~~77438~~92000% 27,375,000.00 8092,~~362~~405.8483 M2 31659TDB8 MEZ 3.~~81438~~96000% 25,125,000.00 7485,~~539~~676.3425 M3 31659TDC6 MEZ 34.~~85438~~00000% 15,375,000.00 4652,~~091~~958.9633 M4 31659TDD4 MEZ 4.~~03438~~18000% 13,500,000.00 4248,~~360~~592.9950 M5 31659TDE2 MEZ 4.~~06438~~21000% 12,000,000.00 3743,~~934~~503.2133 M6 31659TDF9 MEZ 4.~~09438~~24000% 12,000,000.00 3843,~~214~~813.2133 M7 31659TDG7 MEZ 4.~~56438~~71000% 9,750,000.00 3439,~~613~~544.2238 M8 31659TDH5 MEZ 4.~~66438~~81000% 9,750,000.00 3540,~~371~~383.5596 M9 31659TDJ1 MEZ 5.~~31438~~46000% 7,500,000.00 3135,~~000~~262.5550 M10 31659TDM4 MEZ 5.~~66438~~81000% 15,000,000.00 6675,~~084~~045.4383 OWNER CERT FLD0501OT SEN 0.00000% 0.01 1,~~309~~181,~~297~~352.0292 Totals ~~705~~686,~~743~~534,~~784~~359.2196 4,~~111~~130,~~802~~326.4241

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses 1-A1 69,~~760~~834,~~002~~775.8571 0.00 ~~213~~203,~~486~~652,~~806~~030.2250 710,~~370~~516,~~592~~806.1075 0.00 1-A2 12,~~690~~458,~~000~~693.7193 0.00 5350,~~371~~913,~~701~~007.5563 12,~~844~~631,~~361~~040.05 0.00 2-A1 108,~~759~~392,~~420~~674.6993 0.00 ~~112~~103,~~021~~629,~~852~~177.1825 118,~~087~~738,~~392~~013.1241 0.00 2-A2 0.00 0.00 149,423,000.00 ~~410~~473,~~758~~504.1888 0.00 2-A3 0.00 0.00 10,856,000.00 3035,~~940~~616.4073 0.00 A-IO 0.00 0.00 0.00 ~~781~~682,~~312~~950.5000 0.00 M1 0.00 0.00 27,375,000.00 8092,~~362~~405.8483 0.00 M2 0.00 0.00 25,125,000.00 7485,~~539~~676.3425 0.00 M3 0.00 0.00 15,375,000.00 4652,~~091~~958.9633 0.00 M4 0.00 0.00 13,500,000.00 4248,~~360~~592.9950 0.00 M5 0.00 0.00 12,000,000.00 3743,~~934~~503.2133 0.00 M6 0.00 0.00 12,000,000.00 3843,~~214~~813.2133 0.00 M7 0.00 0.00 9,750,000.00 3439,~~613~~544.2238 0.00 M8 0.00 0.00 9,750,000.00 3540,~~371~~383.5596 0.00 M9 0.00 0.00 7,500,000.00 3135,~~000~~262.5550 0.00 M10 0.00 0.00 15,000,000.00 6675,~~084~~045.4383 0.00 OWNER CERT 0.00 0.00 0.01 1,~~309~~181,~~297~~352.0292 0.00 Totals 1920,~~209~~686,~~424~~144.2557 0.00 ~~686~~665,~~534~~848,~~359~~215.9639 2324,~~321~~816,~~226~~470.6798 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-A1 235,524,000.00 ~~220~~213,~~246~~486,~~809~~806.0622 0.00 69,~~760~~834,~~002~~775.8571 0.00 0.00 1-A2 58,881,000.00 5553,~~061~~371,~~702~~701.2755 0.00 12,~~690~~458,~~000~~693.7193 0.00 0.00 2-A1 141,566,000.00 ~~122~~112,~~781~~021,~~272~~852.8718 0.00 108,~~759~~392,~~420~~674.6993 0.00 0.00 2-A2 149,423,000.00 149,423,000.00 0.00 0.00 0.00 0.00 2-A3 10,856,000.00 10,856,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M1 27,375,000.00 27,375,000.00 0.00 0.00 0.00 0.00 M2 25,125,000.00 25,125,000.00 0.00 0.00 0.00 0.00 M3 15,375,000.00 15,375,000.00 0.00 0.00 0.00 0.00 M4 13,500,000.00 13,500,000.00 0.00 0.00 0.00 0.00 M5 12,000,000.00 12,000,000.00 0.00 0.00 0.00 0.00 M6 12,000,000.00 12,000,000.00 0.00 0.00 0.00 0.00 M7 9,750,000.00 9,750,000.00 0.00 0.00 0.00 0.00 M8 9,750,000.00 9,750,000.00 0.00 0.00 0.00 0.00 M9 7,500,000.00 7,500,000.00 0.00 0.00 0.00 0.00 M10 15,000,000.00 15,000,000.00 0.00 0.00 0.00 0.00 OWNER CERT 0.00 0.01 0.00 0.00 0.00 0.00 Totals 743,625,000.00 ~~705~~686,~~743~~534,~~784~~359.2196 0.00 1920,~~209~~686,~~424~~144.2557 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-A1 69,~~760~~834,~~002~~775.8571 ~~213~~203,~~486~~652,~~806~~030.2250 0.~~90643334~~86467634 69,~~760~~834,~~002~~775.8571 1-A2 12,~~690~~458,~~000~~693.7193 5350,~~371~~913,~~701~~007.5563 0.~~90643334~~86467634 12,~~690~~458,~~000~~693.7193 2-A1 108,~~759~~392,~~420~~674.6993 ~~112~~103,~~021~~629,~~852~~177.1825 0.~~79130478~~73202024 108,~~759~~392,~~420~~674.6993 2-A2 0.00 149,423,000.00 1.00000000 0.00 2-A3 0.00 10,856,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M1 0.00 27,375,000.00 1.00000000 0.00 M2 0.00 25,125,000.00 1.00000000 0.00 M3 0.00 15,375,000.00 1.00000000 0.00 M4 0.00 13,500,000.00 1.00000000 0.00 M5 0.00 12,000,000.00 1.00000000 0.00 M6 0.00 12,000,000.00 1.00000000 0.00 M7 0.00 9,750,000.00 1.00000000 0.00 M8 0.00 9,750,000.00 1.00000000 0.00 M9 0.00 7,500,000.00 1.00000000 0.00 M10 0.00 15,000,000.00 1.00000000 0.00 OWNER CERT 0.00 0.01 0.00000000 0.00 Totals 1920,~~209~~686,~~424~~144.2557 ~~686~~665,~~534~~848,~~359~~215.9639 0.~~92322657~~89540859 1920,~~209~~686,~~424~~144.2557

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A1 235,524,000.00 ~~935~~906.~~13531131~~43334106 0.00000000 2841.~~70197029~~75700018 0.00000000 1-A2 58,881,000.00 ~~935~~906.~~13531139~~43334098 0.00000000 2841.~~70197025~~75700022 0.00000000 2-A1 141,566,000.00 ~~867~~791.~~30763651~~30477784 0.00000000 7659.~~00285867~~28453817 0.00000000 2-A2 149,423,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 2-A3 10,856,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 27,375,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 25,125,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 15,375,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 13,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 12,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 12,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 9,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M8 9,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M9 7,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M10 15,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 OWNER CERT 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 1-A1 0.00000000 2841.~~70197029~~75700018 ~~906~~864.~~43334106~~67634084 0.~~90643334~~86467634 2841.~~70197029~~75700018 1-A2 0.00000000 2841.~~70197025~~75700022 ~~906~~864.~~43334098~~67634092 0.~~90643334~~86467634 2841.~~70197025~~75700022 2-A1 0.00000000 7659.~~00285867~~28453817 ~~791~~732.~~30477784~~02023968 0.~~79130478~~73202024 7659.~~00285867~~28453817 2-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 2-A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 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 M8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 OWNER CERT 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-A1 235,524,000.00 3.~~56438~~71000% ~~220~~213,~~246~~486,~~809~~806.0622 ~~610~~682,~~589~~031.2504 0.00 0.00 1-A2 58,881,000.00 3.~~60438~~75000% 5553,~~061~~371,~~702~~701.2755 ~~154~~172,~~360~~346.3412 0.00 0.00 2-A1 141,566,000.00 3.~~43438~~58000% ~~122~~112,~~781~~021,~~272~~852.8718 ~~327~~345,~~971~~338.4348 0.00 0.00 2-A2 149,423,000.00 3.~~53438~~68000% 149,423,000.00 ~~410~~473,~~758~~504.1888 0.00 0.00 2-A3 10,856,000.00 3.~~66438~~81000% 10,856,000.00 3035,~~940~~616.4073 0.00 0.00 A-IO 0.00 4.50000% ~~208~~182,~~350~~120,000.00 ~~781~~682,~~312~~950.5000 0.00 0.00 M1 27,375,000.00 3.~~77438~~92000% 27,375,000.00 8092,~~362~~405.8483 0.00 0.00 M2 25,125,000.00 3.~~81438~~96000% 25,125,000.00 7485,~~539~~676.3425 0.00 0.00 M3 15,375,000.00 34.~~85438~~00000% 15,375,000.00 4652,~~091~~958.9633 0.00 0.00 M4 13,500,000.00 4.~~03438~~18000% 13,500,000.00 4248,~~360~~592.9950 0.00 0.00 M5 12,000,000.00 4.~~06438~~21000% 12,000,000.00 3743,~~934~~503.2133 0.00 0.00 M6 12,000,000.00 4.~~09438~~24000% 12,000,000.00 3843,~~214~~813.2133 0.00 0.00 M7 9,750,000.00 4.~~56438~~71000% 9,750,000.00 3439,~~613~~544.2238 0.00 0.00 M8 9,750,000.00 4.~~66438~~81000% 9,750,000.00 3540,~~371~~383.5596 0.00 0.00 M9 7,500,000.00 5.~~31438~~46000% 7,500,000.00 3135,~~000~~262.5550 0.00 0.00 M10 15,000,000.00 5.~~66438~~81000% 15,000,000.00 6675,~~084~~045.4383 0.00 0.00 OWNER CERT 0.00 0.00000% 0.01 0.00 0.00 0.00 Totals 743,625,000.00 2,~~802~~948,~~505~~973.4049 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-A1 0.00 0.00 ~~610~~682,~~589~~031.2504 0.00 ~~213~~203,~~486~~652,~~806~~030.2250 1-A2 0.00 0.00 ~~154~~172,~~360~~346.3412 0.00 5350,~~371~~913,~~701~~007.5563 2-A1 0.00 0.00 ~~327~~345,~~971~~338.4348 0.00 ~~112~~103,~~021~~629,~~852~~177.1825 2-A2 0.00 0.00 ~~410~~473,~~758~~504.1888 0.00 149,423,000.00 2-A3 0.00 0.00 3035,~~940~~616.4073 0.00 10,856,000.00 A-IO 0.00 0.00 ~~781~~682,~~312~~950.5000 0.00 182,120,000.00 M1 0.00 0.00 8092,~~362~~405.8483 0.00 27,375,000.00 M2 0.00 0.00 7485,~~539~~676.3425 0.00 25,125,000.00 M3 0.00 0.00 4652,~~091~~958.9633 0.00 15,375,000.00 M4 0.00 0.00 4248,~~360~~592.9950 0.00 13,500,000.00 M5 0.00 0.00 3743,~~934~~503.2133 0.00 12,000,000.00 M6 0.00 0.00 3843,~~214~~813.2133 0.00 12,000,000.00 M7 0.00 0.00 3439,~~613~~544.2238 0.00 9,750,000.00 M8 0.00 0.00 3540,~~371~~383.5596 0.00 9,750,000.00 M9 0.00 0.00 3135,~~000~~262.5550 0.00 7,500,000.00 M10 0.00 0.00 6675,~~084~~045.4383 0.00 15,000,000.00 OWNER CERT 0.00 0.00 1,~~309~~181,~~297~~352.0292 0.00 0.01 Totals 0.00 0.00 4,~~111~~130,~~802~~326.4241 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-A1 235,524,000.00 3.~~56438~~71000% ~~935~~906.~~13531131~~43334106 2.~~59247147~~89580272 0.00000000 0.00000000 1-A2 58,881,000.00 3.~~60438~~75000% ~~935~~906.~~13531139~~43334098 2.~~62156451~~92702434 0.00000000 0.00000000 2-A1 141,566,000.00 3.~~43438~~58000% ~~867~~791.~~30763651~~30477784 2.~~31673869~~43941681 0.00000000 0.00000000 2-A2 149,423,000.00 3.~~53438~~68000% 1000.00000000 23.~~74896221~~16888886 0.00000000 0.00000000 2-A3 10,856,000.00 3.~~66438~~81000% 1000.00000000 23.~~85007369~~28083364 0.00000000 0.00000000 A-IO 0.00 4.50000% ~~613~~536.~~40571923~~18166348 2.~~30027145~~01068124 0.00000000 0.00000000 M1 27,375,000.00 3.~~77438~~92000% 1000.00000000 23.~~93562886~~37555543 0.00000000 0.00000000 M2 25,125,000.00 3.~~81438~~96000% 1000.00000000 23.~~96673990~~41000000 0.00000000 0.00000000 M3 15,375,000.00 34.~~85438~~00000% 1000.00000000 23.~~99785106~~44444423 0.00000000 0.00000000 M4 13,500,000.00 4.~~03438~~18000% 1000.00000000 3.~~13785111~~59944444 0.00000000 0.00000000 M5 12,000,000.00 4.~~06438~~21000% 1000.00000000 3.~~16118417~~62527750 0.00000000 0.00000000 M6 12,000,000.00 4.~~09438~~24000% 1000.00000000 3.~~18451750~~65111083 0.00000000 0.00000000 M7 9,750,000.00 4.~~56438~~71000% 1000.00000000 34.~~55007385~~05583385 0.00000000 0.00000000 M8 9,750,000.00 4.~~66438~~81000% 1000.00000000 34.~~62785128~~14194462 0.00000000 0.00000000 M9 7,500,000.00 5.~~31438~~46000% 1000.00000000 4.~~13340667~~70166667 0.00000000 0.00000000 M10 15,000,000.00 5.~~66438~~81000% 1000.00000000 45.~~40562867~~00305533 0.00000000 0.00000000 OWNER CERT 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 1-A1 0.00000000 0.00000000 2.~~59247147~~89580272 0.00000000 ~~906~~864.~~43334106~~67634084 1-A2 0.00000000 0.00000000 2.~~62156451~~92702434 0.00000000 ~~906~~864.~~43334098~~67634092 2-A1 0.00000000 0.00000000 2.~~31673869~~43941681 0.00000000 ~~791~~732.~~30477784~~02023968 2-A2 0.00000000 0.00000000 23.~~74896221~~16888886 0.00000000 1000.00000000 2-A3 0.00000000 0.00000000 23.~~85007369~~28083364 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 2.~~30027145~~01068124 0.00000000 536.18166348 M1 0.00000000 0.00000000 23.~~93562886~~37555543 0.00000000 1000.00000000 M2 0.00000000 0.00000000 23.~~96673990~~41000000 0.00000000 1000.00000000 M3 0.00000000 0.00000000 23.~~99785106~~44444423 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.~~13785111~~59944444 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.~~16118417~~62527750 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.~~18451750~~65111083 0.00000000 1000.00000000 M7 0.00000000 0.00000000 34.~~55007385~~05583385 0.00000000 1000.00000000 M8 0.00000000 0.00000000 34.~~62785128~~14194462 0.00000000 1000.00000000 M9 0.00000000 0.00000000 4.~~13340667~~70166667 0.00000000 1000.00000000 M10 0.00000000 0.00000000 45.~~40562867~~00305533 0.00000000 1000.00000000 OWNER CERT 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 2325,~~595~~093,~~594~~570.2790 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 8699,~~042~~676.7000 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2325,~~681~~193,~~636~~246.9790 Withdrawals Reimbursement for Servicer Advances 6186,~~617~~042.1370 Payment of Service Fee ~~298~~290,~~793~~733.1722 Payment of Interest and Principal 2324,~~321~~816,~~226~~470.6798 Total Withdrawals (Pool Distribution Amount) 2325,~~681~~193,~~636~~246.9790 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~296~~288,~~716~~712.1624 Indenture Trustee Fee - HSBC Bank USA 0.00 Owner Trustee Fee - US Bank Trust NA 0.00 Wells Fargo Bank, NA 2,~~077~~020.0198 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~298~~290,~~793~~733.1722

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 7 0 0 7 ~~983~~982,~~161~~517.5213 0.00 0.00 ~~983~~982,~~161~~517.5213 30 Days 3733 1 0 0 3834 65,~~070~~757,~~991~~466.1557 8077,~~799~~496.5698 0.00 0.00 65,~~151~~834,~~790~~963.7155 60 Days 1719 02 02 0 1723 3,~~457~~640,~~907~~829.9055 0214,399.0056 0280,709.0055 0.00 34,~~457~~135,~~907~~938.9066 90 Days 81 0 016 0 817 164,~~980,534~~712.1057 0.00 02,887,714.0091 0.00 12,~~980~~952,~~534~~427.1048 120 Days 7 1 0 5 0 86 1432,~~484,800~~000.6500 ~~399,900~~0.00 01,144,750.00 0.00 1,~~884~~576,~~700~~750.6500 150 Days 0 01 26 01 28 0.00 0399,900.00 ~~592~~1,~~650~~373,600.0065 0111,200.00 ~~592~~1,~~650~~884,700.0065 180+ Days 0 0 0 01 01 0.00 0.00 0.00 092,650.00 092,650.00 Totals 6954 911 29 2 096 ~~80 12~~9,~~994~~895,~~233~~008.8069 1,~~463~~674,~~861~~313.0867 ~~592~~5,~~650~~686,775.0011 0203,850.00 1517,~~050~~459,~~744~~947.8847 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.~~208955~~215120% 0.000000% 0.000000% 0.~~208955~~215120% 0.~~141854~~146122% 0.000000% 0.000000% 0.~~141854~~146122% 30 Days 1.~~104478~~014136% 0.~~029851~~030731% 0.000000% 0.000000% 1.~~134328~~044868% 0.~~875941~~856263% 0.~~011658~~011526% 0.000000% 0.000000% 0.~~887599~~867788% 60 Days 0.~~507463~~583897% 0.~~000000~~061463% 0.~~000000~~061463% 0.000000% 0.~~507463~~706822% 0.~~498918~~541472% 0.~~000000~~031886% 0.~~000000~~041748% 0.000000% 0.~~498918~~615106% 90 Days 0.~~238806~~030731% 0.000000% 0.~~000000~~491703% 0.000000% 0.~~238806~~522434% 0.~~285758~~009624% 0.000000% 0.~~000000~~429467% 0.000000% 0.~~285758~~439091% 120 Days 0.~~208955~~030731% 0.~~029851~~000000% 0.~~000000~~153657% 0.000000% 0.~~238806~~184388% 0.~~214232~~064248% 0.~~057699~~000000% 0.~~000000~~170250% 0.000000% 0.~~271930~~234498% 150 Days 0.000000% 0.~~000000~~030731% 0.~~059701~~184388% 0.~~000000~~030731% 0.~~059701~~245851% 0.000000% 0.~~000000~~059474% 0.~~085509~~204285% 0.~~000000~~016538% 0.~~085509~~280297% 180+ Days 0.000000% 0.000000% 0.000000% 0.~~000000~~030731% 0.~~000000~~030731% 0.000000% 0.000000% 0.000000% 0.~~000000~~013779% 0.~~000000~~013779% Totals 21.~~059701~~659496% 0.~~268657~~338045% 0.~~059701~~891211% 0.~~000000~~061463% 2.~~388060~~950215% 1.~~874848~~471607% 0.~~211210~~249008% 0.~~085509~~845750% 0.~~000000~~030317% 2.~~171568~~596681%

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 1 0 0 1 131,~~992~~990.8523 0.00 0.00 131,~~992~~990.8523 30 Days 16 01 0 0 1617 2,~~676~~796,~~873~~659.0784 077,496.0098 0.00 0.00 2,~~676~~874,~~873~~156.0782 60 Days 510 01 01 0 512 ~~810~~2,~~151~~000,211.10 0133,600.00 0225,000.00 0.00 ~~810~~2,~~151~~358,811.10 90 Days 4 0 0 5 0 45 ~~959,950~~0.00 0.00 0810,151.0010 0.00 ~~959~~810,~~950~~151.0010 120 Days 0 0 03 0 03 0.00 0.00 0627,950.00 0.00 0627,950.00 150 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 2526 13 09 0 2638 4,~~446~~796,~~974~~870.1794 ~~131~~343,~~992~~087.8521 01,663,101.0010 0.00 46,~~578~~803,~~967~~059.0225 0-29 Days 0.~~061690~~063816% 0.000000% 0.000000% 0.~~061690~~063816% 0.~~038507~~039938% 0.000000% 0.000000% 0.~~038507~~039938% 30 Days 01.~~987045~~021059% 0.~~000000~~063816% 0.000000% 0.000000% 01.~~987045~~084876% 0.~~780930~~846224% 0.~~000000~~023449% 0.000000% 0.000000% 0.~~780930~~869673% 60 Days 0.~~308452~~638162% 0.~~000000~~063816% 0.~~000000~~063816% 0.000000% 0.~~308452~~765795% 0.~~236347~~605231% 0.~~000000~~040425% 0.~~000000~~068081% 0.000000% 0.~~236347~~713738% 90 Days 0.~~246761~~000000% 0.000000% 0.~~000000~~319081% 0.000000% 0.~~246761~~319081% 0.~~280048~~000000% 0.000000% 0.~~000000~~245138% 0.000000% 0.~~280048~~245138% 120 Days 0.000000% 0.000000% 0.~~000000~~191449% 0.000000% 0.~~000000~~191449% 0.000000% 0.000000% 0.~~000000~~190007% 0.000000% 0.~~000000~~190007% 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.~~542258~~659221% 0.~~061690~~191449% 0.~~000000~~574346% 0.000000% 12.~~603948~~425016% 1.~~297325~~451455% 0.~~038507~~103813% 0.~~000000~~503227% 0.000000% 12.~~335832~~058495% 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 6 0 0 6 ~~851~~850,~~168~~526.6790 0.00 0.00 ~~851~~850,~~168~~526.6790 30 Days 2117 10 0 0 2217 32,~~394~~960,~~118~~806.0873 ~~80,799~~0.5600 0.00 0.00 32,~~474~~960,~~917~~806.6473 60 Days 129 01 01 0 1211 21,~~647~~640,~~756~~618.8045 080,799.0056 055,709.0055 0.00 21,~~647~~777,~~756~~127.8056 90 Days 41 0 011 0 412 164,~~020,584~~712.1057 0.00 02,077,563.0081 0.00 12,~~020~~142,~~584~~276.1038 120 Days 7 1 0 2 0 83 1432,~~484,800~~000.6500 ~~399,900~~0.00 0516,800.00 0.00 1948,~~884,700~~800.6500 150 Days 0 01 26 01 28 0.00 0399,900.00 ~~592~~1,~~650~~373,600.0065 0111,200.00 ~~592~~1,~~650~~884,700.0065 180+ Days 0 0 0 01 01 0.00 0.00 0.00 092,650.00 092,650.00 Totals 4428 8 20 2 058 ~~54 8~~5,~~547~~098,~~259~~137.6375 1,331,~~868~~226.2346 ~~592~~4,~~650~~023,674.0001 0203,850.00 10,~~471~~656,~~777~~888.8622 0-29 Days 0.~~347021~~355661% 0.000000% 0.000000% 0.~~347021~~355661% 0.~~242982~~248759% 0.000000% 0.000000% 0.~~242982~~248759% 30 Days 1.~~214575~~007706% 0.~~057837~~000000% 0.000000% 0.000000% 1.~~272412~~007706% 0.~~968913~~865967% 0.~~023066~~000000% 0.000000% 0.000000% 0.~~991979~~865967% 60 Days 0.~~694043~~533491% 0.~~000000~~059277% 0.~~000000~~059277% 0.000000% 0.~~694043~~652045% 0.~~755851~~479843% 0.~~000000~~023632% 0.~~000000~~016294% 0.000000% 0.~~755851~~519768% 90 Days 0.~~231348~~059277% 0.000000% 0.~~000000~~652045% 0.000000% 0.~~231348~~711322% 0.~~291344~~018927% 0.000000% 0.~~000000~~607639% 0.000000% 0.~~291344~~626566% 120 Days 0.~~404858~~059277% 0.~~057837~~000000% 0.~~000000~~118554% 0.000000% 0.~~462695~~177830% 0.~~423864~~126350% 0.~~114159~~000000% 0.~~000000~~151152% 0.000000% 0.~~538022~~277502% 150 Days 0.000000% 0.~~000000~~059277% 0.~~115674~~355661% 0.~~000000~~059277% 0.~~115674~~474215% 0.000000% 0.~~000000~~116961% 0.~~169183~~401746% 0.~~000000~~032523% 0.~~169183~~551231% 180+ Days 0.000000% 0.000000% 0.000000% 0.~~000000~~059277% 0.~~000000~~059277% 0.000000% 0.000000% 0.000000% 0.~~000000~~027098% 0.~~000000~~027098% Totals 21.~~544824~~659751% 0.~~462695~~474215% 01.~~115674~~185536% 0.~~000000~~118554% 3.~~123193~~438056% 21.~~439972~~491087% 0.~~380206~~389353% 01.~~169183~~176831% 0.~~000000~~059621% 23.~~989361~~116892%

REO Detail - All Mortgage Loans in REO during Current Period

Summary 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 02 ~~Aug~~Sep-04 0.000% Original Principal Balance 0203,850.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 0203,850.00 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current REO Total ~~Dec~~Jan-0405 0.000% Loans in REO 02 ~~Jan~~Feb-05 0.000% Original Principal Balance 0203,850.00 ~~Feb~~Mar-05 0.000% Current Principal Balance 0203,850.00 ~~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~~030% *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 02 ~~Aug~~Sep-04 0.000% Original Principal Balance 0203,850.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 0203,850.00 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current REO Total ~~Dec~~Jan-0405 0.000% Loans in REO 02 ~~Jan~~Feb-05 0.000% Original Principal Balance 0203,850.00 ~~Feb~~Mar-05 0.000% Current Principal Balance 0203,850.00 ~~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~~060% *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.

REO Loan Detail - All Mortgage Loans in REO during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance No2 ~~REO~~4446828426 ~~loans~~Aug-2005 ~~this~~01-Jan-2005 ~~period~~MO 85.00 92,650.00 2 8680497444 Aug-2005 01-Feb-2005 MO 80.00 111,200.00

REO Loan Detail - All Mortgage Loans in REO during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No2 ~~REO~~4446828426 ~~loans~~92,650.00 ~~this~~01-Dec-2004 ~~period~~6 8.550% 3,718.95 2 8680497444 111,200.00 01-Jan-2005 5 7.950% 4,132.26

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Summary 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 029 ~~Aug~~Sep-04 0.000% Original Principal Balance 05,690,885.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 05,686,775.0011 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current Foreclosure Total ~~Dec~~Jan-0405 0.000% Loans in Foreclosure 229 ~~Jan~~Feb-05 0.000% Original Principal Balance ~~592~~5,~~650~~690,885.00 ~~Feb~~Mar-05 0.000% Current Principal Balance ~~592~~5,~~650~~686,775.0011 ~~Mar-05 0.000%~~ Apr-05 0.000% May-05 0.082% Jun-05 0.083% Jul-05 0.086% Aug-05 0.846% *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 09 ~~Aug~~Sep-04 0.000% Original Principal Balance 01,664,210.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 01,663,101.0010 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current Foreclosure Total ~~Dec~~Jan-0405 0.000% Loans in Foreclosure 09 ~~Jan~~Feb-05 0.000% Original Principal Balance 01,664,210.00 ~~Feb~~Mar-05 0.000% Current Principal Balance 01,663,101.0010 ~~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~~503% *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 020 ~~Aug~~Sep-04 0.000% Original Principal Balance 04,026,675.00 ~~Sep~~Oct-04 0.000% Current Principal Balance 04,023,674.0001 ~~Oct~~Nov-04 0.000% ~~Nov~~Dec-04 0.000% Current Foreclosure Total ~~Dec~~Jan-0405 0.000% Loans in Foreclosure 220 ~~Jan~~Feb-05 0.000% Original Principal Balance ~~592~~4,~~650~~026,675.00 ~~Feb~~Mar-05 0.000% Current Principal Balance ~~592~~4,~~650~~023,674.0001 ~~Mar-05 0.000%~~ Apr-05 0.000% May-05 0.162% Jun-05 0.164% Jul-05 0.169% Aug-05 1.177% *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 Loan Detail - All Mortgage Loans in Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance 21 ~~1494139317~~0594658922 ~~May~~Aug-2005 01-~~Sep~~Feb-2005 CA 80.00 218,000.00 1 0594941922 Aug-2005 01-Feb-2005 CA 80.00 329,600.00 1 0692736619 Aug-2005 01-Nov-2004 MNCO 90.00 306,000.00 1 0694179619 Aug-2005 01-Jan-2005 CO 80.00 112,000.00 1 8084679179 Aug-2005 01-Jan-2005 AZ 80.00 62,800.00 1 8680652444 Aug-2005 01-Mar-2005 MO 90.00 51,300.00 1 8680670444 Aug-2005 01-Feb-2005 MO 90.00 225,000.00 1 9081116678 Aug-2005 01-Jan-2005 WA 80.00 149,560.00 1 9091570278 Aug-2005 01-Jan-2005 CA 85.00 209,950.00 2 1496293317 Aug-2005 01-Jan-2005 IL 83.34 500,000.00 2 1497237317 Aug-2005 01-Feb-2005 MN 80.00 264,000.00 2 1497541317 Aug-2005 01-Feb-2005 MI 55.56 50,000.00 2 1497699317 Aug-2005 01-Feb-2005 MN 80.00 196,800.00 2 1585319913 Aug-2005 01-Feb-2005 CA 80.00 520,000.00 2 3085112772 Aug-2005 01-Jan-2005 NJ 85.00 206,550.00 2 4388941476 Aug-2005 01-Feb-2005 TX 90.00 116,100.00 2 4395632436 Aug-2005 01-Feb-2005 TX 75.76 62,500.00 2 4395756436 Aug-2005 01-Jan-2005 TN 78.73 74,000.00 2 ~~4446828426~~4395958436 ~~May~~Aug-2005 01-Feb-2005 TX 80.00 370,400.00 2 4396079436 Aug-2005 01-Mar-2005 OK 80.00 124,800.00 2 4396186436 Aug-2005 01-Feb-2005 TX 80.00 392,000.00 2 4446102426 Aug-2005 01-Jan-2005 TN 90.00 149,400.00 2 4446384426 Aug-2005 01-Jan-2005 IA 78.27 72,000.00 2 4446677426 Aug-2005 01-Feb-2005 TX 79.13 71,825.00 2 4448882426 Aug-2005 01-Feb-2005 KS 95.00 70,300.00 2 4449090426 Aug-2005 01-Mar-2005 IA 80.00 84,800.00 2 8680583444 Aug-2005 01-Mar-2005 MO 90.00 55,800.00 2 8680803444 Aug-2005 01-Mar-2005 MO 80.00 50,400.00 2 9081620678 Aug-2005 01-Mar-2005 WA 85.00 92595,~~650~~000.00

Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest 1 0594658922 218,000.00 01-Mar-2005 3 6.250% 5,222.95 1 0594941922 329,600.00 01-Mar-2005 3 6.475% 8,205.70 1 0692736619 306,000.00 01-Feb-2005 4 6.850% 9,715.50 1 0694179619 112,000.00 01-Feb-2005 4 7.150% 3,723.96 1 8084679179 62,800.00 01-Mar-2005 3 7.990% 1,959.85 1 8680652444 50,191.10 01-Mar-2005 3 8.750% 1,723.35 1 8680670444 225,000.00 01-Apr-2005 2 ~~1494139317~~7.950% 5,587.52 1 9081116678 149,560.00 01-Mar-2005 3 7.000% 4,050.55 1 9091570278 209,950.00 01-Feb-2005 4 6.500% 6,298.50 2 1496293317 498,760.83 01-Mar-2005 3 6.990% 13,464.60 2 1497237317 264,000.00 01-~~Dec~~Jan-~~2004~~2005 5 6.750% 8,224.90 2 1497541317 49,943.43 01-Mar-2005 3 8.850% 1,735.61 2 1497699317 196,800.00 01-Jan-2005 5 7.~~625~~250% 6,623.68 2 1585319913 520,000.00 01-Jan-2005 5 7.500% 18,199.98 2 3085112772 206,400.65 01-Jan-2005 5 7.630% 7,339.24 2 4388941476 116,100.00 01-Jan-2005 5 7.700% 4,169.06 2 4395632436 62,400.84 01-Mar-2005 3 7.450% 1,804.27 2 4395756436 73,796.26 01-Mar-2005 3 6.450% 1,826.11 2 4395958436 369,789.79 01-Mar-2005 3 6.990% 9,983.00 2 4396079436 124,800.00 01-Feb-2005 4 7.100% 4,110.07 2 4396186436 392,000.00 01-Feb-2005 4 7.750% 14,~~843~~210.7504 2 ~~4446828426~~4446102426 149,142.92 01-Mar-2005 3 8.800% 5,~~650~~151.80 2 4446384426 71,847.30 01-Mar-2005 3 7.775% 2,174.73 2 4446677426 71,742.90 01-Mar-2005 3 8.800% 2,478.20 2 4448882426 70,300.00 01-~~Dec~~Jan-~~2004~~2005 5 9.450% 3,140.38 2 4449090426 84,762.08 01-Mar-2005 3 9.950% 3,334.47 2 8680583444 55,709.55 01-Apr-2005 2 8.~~550~~450% 1,474.92 2 8680803444 50,377.46 01-Mar-2005 3 9.950% 1,~~100~~981.0980 2 9081620678 595,000.00 01-Mar-2005 3 6.990% 16,089.80

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~940379~~933704% Weighted Average Net Coupon 6.~~440379~~433704% Weighted Average Pass-Through Rate 6.~~436879~~430204% Weighted Average Maturity(Stepdown Calculation) ~~353~~352 Beginning Scheduled Collateral Loan Count 3,~~428~~350 Number Of Loans Paid In Full 7896 Ending Scheduled Collateral Loan Count 3,~~350~~254 Beginning Scheduled Collateral Balance ~~712~~692,~~118~~909,~~784~~359.2095 Ending Scheduled Collateral Balance ~~692~~672,~~909~~223,~~359~~215.9538 Ending Actual Collateral Balance at 3029-~~Jun~~Jul-2005 ~~693~~672,~~081~~394,~~818~~665.5746 Monthly P&I Constant 4,~~298~~180,~~486~~817.5536 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~179~~177,~~841~~126.4887 Unscheduled Principal 1920,~~029~~509,~~582~~017.7770

Miscellaneous Reporting LIBOR 3.~~314380~~460000% Overcollateralization Amount 6,375,000.00 Overcollateralization Deficiency Amount 0.00 Prepayment Premiums ~~351~~405,~~735~~325.60 Target Overcollateralization Amount 6,375,000.00 Trigger Event NO Class 1-A1 Trigger Event NO Swap Payment 5912,~~785~~055.4456

Group Level Collateral Statement Group 1 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.~~809134~~802155 7.~~068103~~062485 6.~~940379~~933704 Weighted Average Net Rate 6.~~309134~~302155 6.~~568103~~562485 6.~~440379~~433704 Weighted Average Maturity ~~353~~352 ~~353~~352 ~~353~~352 Beginning Loan Count 1,~~659~~621 1,~~769~~729 3,~~428~~350 Loans Paid In Full 3854 4042 7896 Ending Loan Count 1,~~621~~567 1,~~729~~687 3,~~350~~254 Beginning Scheduled Balance ~~351~~342,~~219~~769,~~460~~457.8832 ~~360~~350,~~899~~139,~~323~~902.3263 ~~712~~692,~~118~~909,~~784~~359.2095 Ending Scheduled Balance ~~342~~330,~~769~~475,~~457~~987.3268 ~~350~~341,~~139~~747,~~902~~227.6370 ~~692~~672,~~909~~223,~~359~~215.9538 Record Date 0607/3029/2005 0607/3029/2005 0607/3029/2005 Principal And Interest Constant 21,~~004~~954,~~530~~259.2091 2,~~293~~226,~~956~~557.3545 4,~~298~~180,~~486~~817.5536 Scheduled Principal 11,~~613~~284.2419 ~~168~~165,~~228~~842.2468 ~~179~~177,~~841~~126.4887 Unscheduled Principal 812,~~438~~282,~~390~~185.3245 108,~~591~~226,~~192~~832.4525 1920,~~029~~509,~~582~~017.7770 Scheduled Interest 1,~~992~~942,~~916~~975.9672 2,~~125~~060,~~728~~714.1177 4,~~118~~003,~~645~~690.0749 Servicing Fees ~~146~~142,~~341~~820.4461 ~~150~~145,~~374~~891.7263 ~~296~~288,~~716~~712.1624 Master Servicing Fees ~~1,024~~999.3974 1,~~052~~021.6224 2,~~077~~020.0198 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 1,~~845~~799,~~551~~155.1337 1,~~974~~913,~~300~~801.7790 3,~~819~~712,~~851~~957.9027 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.~~305634~~298655 6.~~564603~~558985 6.~~436879~~430204

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 3854 812,~~430~~116,~~112~~997.00 812,~~427~~114,~~230~~613.3325 0 0.00 0.00 2 4042 108,~~550~~305,~~748~~426.00 108,~~530~~218,~~072~~172.4770 0 0.00 0.00 Total 7896 1820,~~980~~422,~~860~~423.00 1820,~~957~~332,~~302~~785.8095 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 11167,~~558~~663.6753 2 0 0.00 0.00 0 0.00 0.00 6413,~~947~~668.7367 Total 0 0.00 0.00 0 0.00 0.00 76181,~~506~~332.4020

Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount 1 ~~0594116922~~0527704965 CA 80.00 01-~~Jan~~Feb-2005 ~~336~~288,156.00 288,156.00 1 0593456922 CA 80.00 01-Nov-2004 304,000.00 ~~336~~304,000.00 1 ~~0594710922~~0594010922 NVCA 8090.00 01-Jan-2005 ~~126~~193,~~504~~500.00 ~~126~~192,~~504~~807.0016 1 ~~0594727922~~0594467922 CA 8070.00 01-~~Feb~~Jan-2005 ~~219~~234,500.00 ~~219~~234,500.00 1 ~~0594823922~~0594752922 CA 9580.00 01-Feb-2005 ~~342~~311,592.00 311,592.00 1 0595030922 CA 69.63 01-Mar-2005 259,000.00 ~~342~~259,000.00 1 ~~0595124965~~0595045965 CA 5780.00 01-Jan-2005 ~~228~~352,000.00 ~~228~~352,000.00 1 ~~0595156965~~0595158922 CA 80.00 01-~~Jan~~Mar-2005 ~~304~~284,~~000~~800.00 ~~304~~284,~~000~~800.00 1 ~~0595309965~~0595287965 CA 80.00 01-Feb-2005 321,524.00 321,490.62 1 0595393965 CA 80.00 01-Jan-2005 ~~289~~101,~~584~~600.00 ~~289~~101,~~446~~600.6300 1 ~~0595735965~~0595399965 CA 80.00 01-~~Feb~~Jan-2005 ~~272~~160,000.00 ~~271~~159,~~856~~992.0098 1 ~~0694375619~~1492119317 COIL 80.00 01-Jul-2004 105,520.00 105,520.00 1 1496943317 MI 78.95 01-Feb-2005 ~~184~~75,000.00 ~~183~~74,~~798~~919.9097 1 ~~0694631619~~1496959317 COIL 8090.00 01-Feb-2005 ~~208~~162,000.00 ~~208~~162,000.00 1 ~~0694647619~~1497140317 COIL 69.26 01-Feb-2005 187,000.00 187,000.00 1 1497331317 MI 80.00 01-Feb-2005 ~~169~~130,~~600~~400.00 ~~169~~130,~~599~~400.5900 1 ~~1495140317~~1497932317 IL 6692.6703 01-Mar-2005 150,000.00 149,461.72 1 1498028317 IL 85.00 01-Mar-2005 293,250.00 293,250.00 1 1583151913 CA 90.00 01-Nov-2004 ~~130~~351,000.00 ~~129~~351,~~999~~000.8800 1 ~~1497120317~~1583866913 ILCA 70.00 01-Jan-2005 311,500.00 311,500.00 1 1584084913 CA 63.21 01-Jan-2005 278,148.00 278,148.00 1 1584449913 CA 80.00 01-~~Feb~~Jan-2005 ~~223~~248,000.00 247,998.33 1 1584461913 CA 80.00 01-Jan-2005 347,200.00 ~~223~~347,200.00 1 ~~1497139317~~1584522913 ILCA 9080.00 01-~~Feb~~Jan-2005 ~~206~~260,~~100~~000.00 ~~205~~259,~~230~~996.5004 1 ~~1497197317~~1584622913 ILCA 8375.6600 01-~~Feb~~Jan-2005 ~~217~~337,500.00 ~~216~~337,~~332~~500.7600 1 ~~1497849317~~1584872913 MICA 8580.00 01-~~Mar~~Jan-2005 ~~125~~280,~~800~~000.00 ~~125~~280,~~791~~000.7200 1 ~~1584595913~~1585019913 CA 9080.00 01-~~Jan~~Feb-2005 ~~252~~200,000.00 ~~252~~200,000.00 1 ~~1584812913~~1585142913 CA 7980.2500 01-Feb-2005 ~~210~~312,000.00 ~~210~~312,000.00 1 ~~1585394913~~1585221913 CA 75.00 01-Feb-2005 ~~294~~240,000.00 ~~294~~240,000.00 1 ~~1585433913~~1585530913 CA 8063.0024 01-~~Feb~~Mar-2005 ~~196~~215,000.00 ~~195~~215,~~293~~000.0900 1 ~~2184596112~~1585574913 MDCA 80.00 01-~~Jan~~Mar-2005 ~~219~~167,~~900~~920.00 ~~219~~167,~~900~~920.00 1 ~~3085399772~~1585626913 MACA 8064.00 01-~~Feb~~Mar-2005 ~~220~~192,000.00 ~~220~~192,000.00 1 ~~3085461772~~2184595112 MAVA 8590.00 01-Jan-2005 ~~210~~270,~~800~~000.00 ~~210~~270,~~800~~000.00 1 ~~3481707222~~2184714112 GAVA 7888.9580 01-~~Jan~~Feb-2005 ~~120~~264,~~000~~600.00 ~~120~~264,~~000~~600.00 1 ~~3482078222~~2184804112 GAMD 7980.8800 01-Feb-2005 ~~125~~152,000.00 ~~124~~152,~~982~~000.9100 1 ~~3482129222~~2184875112 FLMD 80.00 01-Mar-2005 ~~236~~152,800.00 ~~236~~152,800.00 1 ~~3780564562~~3085204772 MA 85.00 01-Jan-2005 209,100.00 209,100.00 1 3482230222 GA 84.79 01-Mar-2005 195,000.00 195,000.00 1 4446613426 FL 80.00 01-Jan-2005 203,617.00 203,570.83 1 4448110426 KS 69.57 01-Feb-2005 ~~184~~160,000.00 ~~184~~160,000.00 1 ~~4424769426~~4448207426 AZWA 8590.00 01-~~May~~Feb-~~2004~~2005 ~~259~~221,~~250~~400.00 ~~259~~221,~~250~~296.0042 1 ~~4448493426~~8084729179 AZ 80.00 01-~~Feb~~Jan-2005 ~~170~~128,~~400~~000.00 ~~170~~127,~~400~~890.00 1 ~~8083757179~~8084827179 AZ 8580.00 01-~~Oct~~Jan-~~2004~~2005 ~~350~~192,~~200~~000.00 ~~350~~192,~~200~~000.00 1 ~~8084630179~~8084830179 AZ 9080.00 01-Jan-2005 ~~151~~154,~~200~~400.00 ~~151~~154,~~200~~389.0026 1 ~~8084782179~~8085108179 AZ 80.00 01-~~Jan~~Feb-2005 ~~180~~150,~~000~~400.00 ~~180~~150,~~000~~400.00 1 ~~8084921179~~8085139179 AZ 9080.00 01-~~Jan~~Feb-2005 ~~162~~143,~~000~~720.00 ~~162~~143,~~000~~720.00 1 ~~8085230179~~9081403678 AZOR 80.00 01-~~Mar~~Feb-2005 ~~159~~295,~~824~~650.00 ~~159~~295,~~795~~650.6700 1 ~~9091289278~~9081732678 CAWA 80.00 01-~~Jan~~Mar-2005 ~~256~~180,000.00 ~~256~~180,000.00 1 ~~9091440278~~9091507278 CA 8550.00 01-Jan-2005 ~~335~~210,~~750~~000.00 ~~335~~209,~~750~~152.0059 1 ~~9091990278~~9091675278 CA 80.00 01-Feb-2005 ~~276~~281,~~000~~600.00 ~~276~~281,~~000~~600.00 1 ~~9092039278~~9091973278 CA 80.00 01-~~Feb~~Mar-2005 ~~279~~206,~~200~~400.00 ~~279~~206,~~200~~400.00 21 ~~0593380922~~9092112278 CA 6680.9800 01-~~Nov~~Feb-~~2004~~2005 ~~365~~158,~~000~~400.00 ~~365~~158,~~000~~400.00 21 ~~0594478922~~9092200278 NVCA 6890.4300 01-~~Jan~~Mar-2005 ~~130~~325,~~000~~800.00 ~~129~~325,~~120~~800.3500 21 ~~0595136965~~9092217278 CA 80.00 01-~~Jan~~Mar-2005 ~~240~~208,000.00 ~~238~~208,~~286~~000.1200 2 ~~0692954619~~0595108922 COCA 7390.8500 01-~~Jan~~Mar-2005 ~~480~~499,~~000~~500.00 ~~480~~499,~~000~~500.00 2 ~~0693537619~~0694177619 UTFL 80.00 01-~~Jan~~Feb-2005 ~~138~~132,~~858~~800.00 ~~137~~132,~~842~~157.9919 2 ~~1491741317~~1492739317 IL 5675.6700 01-Jul-2004 34123,~~000~~750.00 33122,~~691~~533.2726 2 ~~1493978317~~1496659317 IL 7680.5000 01-~~Sep~~Jan-~~2004~~2005 ~~573~~124,~~750~~000.00 ~~573~~123,~~750~~224.0090 2 ~~1496779317~~1496877317 MIIL 8580.00 01-Jan-2005 ~~561~~116,000.00 ~~561~~115,161.18 2 1497106317 MN 90.00 01-Jan-2005 243,000.00 241,510.69 2 ~~1496789317~~1497443317 IL 8580.00 01-Feb-2005 ~~145~~172,~~350~~000.00 ~~144~~170,~~748~~756.9653 2 ~~1496809317~~1497540317 IL 8072.0098 01-~~Jan~~Feb-2005 ~~364~~54,000.00 ~~361~~53,~~870~~727.3645 2 ~~1497511317~~1497682317 IL 9085.00 01-Feb-2005 ~~155~~106,~~700~~250.00 ~~154~~105,~~960~~851.1326 2 ~~1497578317~~1498084317 MINJ 7083.34 01-Mar-2005 200,000.00 199,147.76 2 1498092317 IL 90.00 01-Mar-2005 57243,~~400~~436.00 57242,~~259~~535.5129 2 ~~1497687317~~1584125913 MICA 8580.00 01-Feb-2005 ~~375~~240,~~700~~000.00 ~~375~~238,~~700~~380.76 2 1585337913 CA 47.28 01-Feb-2005 260,000.00 258,815.18 2 ~~1497877317~~1585358913 MICA 90.00 01-~~Mar~~Feb-2005 ~~106~~432,~~200~~000.00 ~~105~~432,~~836~~000.6600 2 ~~1498068317~~1585485913 ILCA 90.00 01-Mar-2005 ~~170~~276,~~910~~300.00 ~~170~~272,~~317~~888.0975 2 ~~1585074913~~2184668112 CAMD 9085.00 01-Feb-2005 ~~252~~57,~~000~~715.00 ~~250,717~~873.6033 2 ~~1585323913~~2184808112 CAMD 8090.00 01-Mar-2005 ~~365~~210,600.00 ~~365~~209,~~600~~670.75 2 3084825772 MA 90.00 01-Jan-2005 366,300.00 364,552.58 2 ~~1585450913~~3085203772 CAMA 8085.00 01-~~Feb~~Jan-2005 ~~180~~289,000.00 ~~179~~286,~~123~~563.3993 2 ~~1585456913~~3085560772 CANJ 6980.5700 01-Mar-2005 ~~400~~328,000.00 ~~400~~326,~~000~~657.0030 2 ~~1585692913~~3085589772 CAMA 80.00 01-~~Mar~~Feb-2005 ~~184~~188,~~000~~400.00 ~~183~~187,~~159~~469.2367 2 ~~2184095112~~3481301222 VA 90.00 01-~~Nov~~Jan-~~2004~~2005 ~~432~~212,~~000~~400.00 ~~432~~211,~~000~~136.0017 2 ~~2184495112~~3780406562 MDFL 85.00 01-Jan-2005 ~~428~~250,~~400~~750.00 ~~428~~249,~~400~~228.0020 2 ~~3085304772~~3780780562 MAFL 9068.0054 01-~~Jan~~Mar-2005 ~~198~~98,000.00 ~~196~~97,~~676~~602.8083 2 ~~3085610772~~4395371436 NJOK 8090.00 01-Feb-2005 ~~264~~51,~~000~~300.00 ~~262~~51,~~891~~067.8205 2 ~~3085710772~~4396096436 MAIL 8085.00 01-Feb-2005 ~~384~~72,~~000~~250.00 ~~382~~71,~~410~~927.7335 2 ~~3481651222~~4446066426 FLAZ 69.70 01-Jan-2005 115,000.00 114,576.43 2 4447729426 NM 90.00 01-Feb-2005 9899,000.00 9798,~~509~~642.9805 2 ~~4395738436~~4447989426 TNIL 8090.00 01-~~Jan~~Feb-2005 ~~164~~56,~~000~~925.00 ~~163~~56,~~427~~718.3296 2 ~~4446166426~~4449111426 KYAZ 80.00 01-~~Jan~~Feb-2005 94175,~~400~~886.00 94174,~~049~~970.3801 2 ~~4449166426~~4449150426 ORCA 8581.0012 01-~~Feb~~Mar-2005 ~~227~~365,~~800~~000.00 ~~226~~365,~~606~~000.5200 2 ~~4449384426~~4449154426 KYFL 6080.00 01-Mar-2005 9473,~~200~~600.00 9373,~~898~~343.5684 2 ~~8085054179~~8084704179 AZ 8580.00 01-~~Feb~~Jan-2005 ~~127~~136,~~500~~000.00 ~~127~~135,~~028~~333.2472 2 ~~8680701444~~8084916179 KSAZ 80.00 01-~~Feb~~Jan-2005 91140,~~120~~800.00 90139,~~691~~803.2095 2 ~~9081600678~~8084947179 WAAZ 80.00 01-Feb-2005 ~~429~~131,~~560~~244.00 ~~429~~130,~~560~~470.0011 2 ~~9081617678~~8085142179 WAAZ 80.00 01-~~Mar~~Feb-2005 ~~258~~121,~~000~~120.00 ~~257~~120,~~122~~355.7876 2 ~~9081730678~~9081262678 WANV 9080.00 01-~~Mar~~Feb-2005 ~~145~~124,~~800~~000.00 ~~145~~123,~~358~~245.2886 2 ~~9091238278~~9091442278 CA 9080.00 01-Jan-2005 ~~409~~397,~~500~~600.00 ~~409~~397,~~500~~600.00 2 ~~9091538278~~9091527278 CA 8090.00 01-~~Feb~~Jan-2005 ~~360~~67,~~000~~500.00 ~~359~~66,~~068~~862.4079 2 ~~9091684278~~9091581278 CA 80.00 01-~~Feb~~Jan-2005 ~~456~~240,000.00 ~~456~~238,~~000~~054.0078 2 ~~9091700278~~9091719278 CA 9070.00 01-Feb-2005 ~~252~~525,000.00 ~~250~~525,~~860~~000.1300 2 ~~9092024278~~9092149278 CA 70.00 01-~~Feb~~Mar-2005 ~~357~~189,000.00 ~~355~~188,~~200~~245.9296

Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning 1 ~~0594116922~~0527704965 Loan Paid in Full (1) 5.750% 360 6 1 0593456922 Loan Paid in Full 0 6.~~250~~990% 360 69 1 ~~0594710922~~0594010922 Loan Paid in Full (1) 6.~~700~~990% 360 7 1 0594467922 Loan Paid in Full 0 6.650% 360 7 1 ~~0594727922~~0594752922 Loan Paid in Full 0 7.~~250~~725% 360 56 1 ~~0594823922~~0595030922 Loan Paid in Full 0 7.~~625~~990% 360 5 1 ~~0595124965~~0595045965 Loan Paid in Full 0 76.~~500~~100% 360 67 1 ~~0595156965~~0595158922 Loan Paid in Full 0 56.~~500~~900% 360 65 1 ~~0595309965~~0595287965 Loan Paid in Full 0 5.~~950~~550% 360 6 1 ~~0595735965~~0595393965 Loan Paid in Full 0 56.~~750~~250% 360 57 1 ~~0694375619~~0595399965 Loan Paid in Full 0 86.~~740~~350% 360 57 1 ~~0694631619~~1492119317 Loan Paid in Full 0 8.~~250~~490% 360 513 1 ~~0694647619~~1496943317 Loan Paid in Full 0(1) 87.~~240~~450% 360 56 1 ~~1495140317~~1496959317 Loan Paid in Full 0 97.~~300~~990% 360 86 1 ~~1497120317~~1497140317 Loan Paid in Full 0 78.~~630~~350% 360 56 1 ~~1497139317~~1497331317 Loan Paid in Full 0 76.~~850~~400% 360 56 1 ~~1497197317~~1497932317 Loan Paid in Full (1) 8.~~800~~650% 360 5 1 ~~1497849317~~1498028317 Loan Paid in Full 0 7.~~500~~800% 360 45 1 ~~1584595913~~1583151913 Loan Paid in Full 0 6.~~500~~550% 360 9 1 1583866913 Loan Paid in Full 0 6.900% 360 7 1 ~~1584812913~~1584084913 Loan Paid in Full 0 7.200% 360 7 1 1584449913 Loan Paid in Full 0 6.~~550~~250% 360 57 1 ~~1585394913~~1584461913 Loan Paid in Full 0 6.~~875~~500% 360 57 1 ~~1585433913~~1584522913 Loan Paid in Full 0 86.~~625~~350% 360 7 1 1584622913 Loan Paid in Full 0 5.600% 360 7 1 ~~2184596112~~1584872913 Loan Paid in Full 0 5.990% 360 7 1 1585019913 Loan Paid in Full 0 5.~~250~~990% 360 6 1 ~~3085399772~~1585142913 Loan Paid in Full 0 76.~~050~~550% 360 56 1 ~~3085461772~~1585221913 Loan Paid in Full 0 7.~~250~~990% 360 6 1 ~~3481707222~~1585530913 Loan Paid in Full 0 5.350% 360 5 1 1585574913 Loan Paid in Full 0 7.~~500~~100% 360 5 1 1585626913 Loan Paid in Full 0 6.650% 360 5 1 ~~3482078222~~2184595112 Loan Paid in Full 0 6.990% 360 57 1 ~~3482129222~~2184714112 Loan Paid in Full 0 7.900% 360 6 1 2184804112 Loan Paid in Full (1) 7.~~250~~500% 360 46 1 ~~3780564562~~2184875112 Loan Paid in Full 0(1) 76.~~200~~990% 360 5 1 ~~4424769426~~3085204772 Loan Paid in Full 0 6.~~850~~500% 360 147 1 ~~4448493426~~3482230222 Loan Paid in Full 0 57.~~700~~990% 360 5 1 ~~8083757179~~4446613426 Loan Paid in Full 0 6.800% 360 7 1 4448110426 Loan Paid in Full (1) 7.500% 360 6 1 4448207426 Loan Paid in Full (1) 7.250% 360 6 1 8084729179 Loan Paid in Full 0 5.750% 360 97 1 ~~8084630179~~8084827179 Loan Paid in Full 0 85.~~300~~500% 360 67 1 ~~8084782179~~8084830179 Loan Paid in Full 0 7.250% 360 7 1 8085108179 Loan Paid in Full (1) 6.~~750~~850% 360 6 1 ~~8084921179~~8085139179 Loan Paid in Full 0 7.~~650~~750% 360 6 1 ~~8085230179~~9081403678 Loan Paid in Full 0 68.~~600~~000% 360 46 1 ~~9091289278~~9081732678 Loan Paid in Full 0 67.~~990~~150% 360 65 1 ~~9091440278~~9091507278 Loan Paid in Full (0 8.350% 360 7 1) 9091675278 Loan Paid in Full 0 6.~~750~~450% 360 6 1 ~~9091990278~~9091973278 Loan Paid in Full 0 6.~~990~~950% 360 5 1 ~~9092039278~~9092112278 Loan Paid in Full (1) 6.~~500~~990% 360 6 1 9092200278 Loan Paid in Full 0 5.990% 2360 ~~0593380922~~5 1 9092217278 Loan Paid in Full 0 6.~~250~~650% 360 85 2 ~~0594478922~~0595108922 Loan Paid in Full 0 96.~~450~~750% 360 65 2 ~~0595136965~~0694177619 Loan Paid in Full 0 57.950% 360 6 2 ~~0692954619~~1492739317 Loan Paid in Full ~~(1)~~0 7.~~350~~990% 360 613 2 ~~0693537619~~1496659317 Loan Paid in Full 0 57.~~850~~350% 360 67 2 ~~1491741317~~1496877317 Loan Paid in Full 0 86.~~000~~600% 360 127 2 ~~1493978317~~1497106317 Loan Paid in Full 0 7.~~050~~450% 360 107 2 ~~1496779317~~1497443317 Loan Paid in Full 0(1) 67.~~700~~800% 360 6 2 ~~1496789317~~1497540317 Loan Paid in Full 0 7.~~950~~740% 360 56 2 ~~1496809317~~1497682317 Loan Paid in Full 0 69.~~990~~200% 360 6 2 ~~1497511317~~1498084317 Loan Paid in Full 0 7.~~250~~800% 360 5 2 ~~1497578317~~1498092317 Loan Paid in Full 0 98.~~600~~500% 360 45 2 ~~1497687317~~1584125913 Loan Paid in Full 0 76.~~500~~250% 360 56 2 ~~1497877317~~1585337913 Loan Paid in Full 0 78.~~990~~250% 360 46 2 ~~1498068317~~1585358913 Loan Paid in Full 0 76.~~900~~300% 360 46 2 ~~1585074913~~1585485913 Loan Paid in Full 0 6.~~900~~375% 360 5 2 ~~1585323913~~2184668112 Loan Paid in Full 01 68.~~500~~625% 360 46 2 ~~1585450913~~2184808112 Loan Paid in Full 0 7.~~125~~625% 360 5 2 ~~1585456913~~3084825772 Loan Paid in Full 0 8.~~990~~700% 360 47 2 ~~1585692913~~3085203772 Loan Paid in Full 0 6.~~500~~600% 360 47 2 ~~2184095112~~3085560772 Loan Paid in Full 0 68.~~900~~000% 360 85 2 ~~2184495112~~3085589772 Loan Paid in Full 0 7.~~300~~850% 360 6 2 ~~3085304772~~3481301222 Loan Paid in Full 0 67.~~300~~600% 360 67 2 ~~3085610772~~3780406562 Loan Paid in Full 0 7.~~875~~500% 360 57 2 ~~3085710772~~3780780562 Loan Paid in Full ~~(1)~~0 78.~~950~~050% 360 5 2 ~~3481651222~~4395371436 Loan Paid in Full 0 8.250% 360 6 2 4396096436 Loan Paid in Full 0 8.~~990~~350% 360 56 2 ~~4395738436~~4446066426 Loan Paid in Full 0 9.~~550~~950% 360 67 2 ~~4446166426~~4447729426 Loan Paid in Full 10 9.~~250~~380% 360 6 2 ~~4449166426~~4447989426 Loan Paid in Full ~~(1)~~0 9.375% 360 6 2 4449111426 Loan Paid in Full 0 7.~~750~~600% 360 56 2 ~~4449384426~~4449150426 Loan Paid in Full 0 87.~~300~~850% 360 45 2 ~~8085054179~~4449154426 Loan Paid in Full ~~(1)~~0 8.~~500~~800% 360 5 2 ~~8680701444~~8084704179 Loan Paid in Full ~~(1)~~0 78.~~300~~600% 360 57 2 ~~9081600678~~8084916179 Loan Paid in Full 0 6.~~500~~990% 360 57 2 ~~9081617678~~8084947179 Loan Paid in Full 0(1) 86.~~000~~950% 360 46 2 ~~9081730678~~8085142179 Loan Paid in Full 0 86.~~750~~600% 360 46 2 ~~9091238278~~9081262678 Loan Paid in Full 0 76.~~450~~875% 360 6 2 ~~9091538278~~9091442278 Loan Paid in Full 0 56.~~950~~200% 360 57 2 ~~9091684278~~9091527278 Loan Paid in Full 0 7.~~300~~250% 360 57 2 ~~9091700278~~9091581278 Loan Paid in Full 0 76.~~500~~000% 360 57 2 ~~9092024278~~9091719278 Loan Paid in Full 0 6.~~950~~750% 360 6 2 9092149278 Loan Paid in Full 0 8.650% 360 5

Prepayment - Voluntary Prepayments

Summary SMM CPR PSA Current Month 2.~~673~~961% Current Month 2730.~~756~~277% Current Month 2,~~653~~430.~~322~~184% 3 Month Average 12.~~966~~477% 3 Month Average 2125.~~057~~863% 3 Month Average 2,~~464~~462.~~908~~628% 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 8.667% N/A Mar-2005 3,411.883% N/A Apr-2005 12.112% N/A Apr-2005 2,675.188% N/A May-2005 15.859% N/A May-2005 2,437.024% N/A Jun-2005 19.557% N/A Jun-2005 2,304.379% N/A Jul-2005 27.756% N/A Jul-2005 2,653.322% N/A Aug-2005 30.277% N/A Aug-2005 2,430.184% 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 23.~~403~~583% Current Month 2535.~~311~~461% Current Month 2,~~422~~850.~~322~~635% 3 Month Average 12.~~924~~688% 3 Month Average 2027.~~678~~686% 3 Month Average 2,~~425~~633.~~319~~956% 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 7.660% N/A Mar-2005 3,030.375% N/A Apr-2005 13.585% N/A Apr-2005 3,013.043% N/A May-2005 14.439% N/A May-2005 2,224.724% N/A Jun-2005 22.285% N/A Jun-2005 2,628.912% N/A Jul-2005 25.311% N/A Jul-2005 2,422.322% N/A Aug-2005 35.461% N/A Aug-2005 2,850.635% 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 2.~~936~~351% Current Month 3024.~~065~~833% Current Month 21,~~870~~990.~~971~~248% 3 Month Average 2.~~007~~269% 3 Month Average 2123.~~363~~900% 3 Month Average 2,~~496~~279.~~112~~577% 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 9.641% N/A Mar-2005 3,776.671% N/A Apr-2005 10.650% N/A Apr-2005 2,342.672% N/A May-2005 17.223% N/A May-2005 2,639.851% N/A Jun-2005 16.802% N/A Jun-2005 1,977.514% N/A Jul-2005 30.065% N/A Jul-2005 2,870.971% N/A Aug-2005 24.833% N/A Aug-2005 1,990.248% 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 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% 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 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% 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 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% 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 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% 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 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% 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 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% 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 · Fieldstone Mortgage Investment Trust, Series 2005-1