8-K 1 sam05ar3_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 STRUCTURED ASSET MORTGAGE INVESTMENTS II INC. Mortgage Loan Pass-Through Certificates, Series 2005-AR3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-120916-15 54-2176807 Pooling and Servicing Agreement) (Commission 54-2176808 (State or other File Number) 54-2176809 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On August 25, 2005 a distribution was made to holders of STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., Mortgage Loan 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 Loan Pass-Through Certificates, Series 2005-AR3 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. STRUCTURED ASSET MORTGAGE INVESTMENTS II INC. Mortgage Loan 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: 8/29/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Pass-Through Certificates, Series 2005-AR3 Trust , relating to the August 25, 2005 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Loan Pass-Through Certificates Record Date: 67/3029/2005 Distribution Date: 78/25/2005 Structured Asset Mortgage Investments Inc. Mortgage Loan 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 I-A-1 86359LJZ3 SEN 3.~~60000~~73000% ~~242~~241,~~566~~681,~~000~~779.0089 ~~606~~776,~~415~~268.0045 I-A-2 86359LKA6 SEN 3.~~63000~~76000% 108,~~548~~152,~~000~~312.0054 ~~273~~350,~~631~~173.4215 I-A-3 86359LKB4 SEN 3.~~72000~~85000% 5352,~~161~~967,~~000~~213.0046 ~~137~~175,~~332~~601.5803 I-X 86359LKC2 SEN 0.~~00000~~35384% 0.00 0118,771.0031 II-A-1 86359LKD0 SEN 4.~~62507~~68420% ~~132~~131,~~677~~422,~~000~~344.0084 ~~511~~513,~~366~~006.9383 M-1 86359LKJ7 MEZ 3.~~86000~~99000% 7,~~288~~279,~~000~~563.0062 1925,~~535~~011.8937 M-2 86359LKK4 MEZ 34.~~91000~~04000% 6,~~705~~697,~~000~~238.0049 1823,~~178~~326.9503 M-3 86359LKL2 MEZ 34.~~96000~~09000% 4,~~081~~076,~~000~~275.0095 916,~~541~~043.1594 M-4 86359LKM0 MEZ 4.~~08000~~21000% 3,~~498~~493,~~000~~950.0082 813,~~178~~631.1372 M-5 86359LKN8 MEZ 4.~~10000~~23000% 3,~~207~~203,~~000~~287.0067 711,~~497~~597.7881 M-6 86359LKP3 MEZ 4.~~15000~~28000% 2,~~915~~911,~~000~~625.0068 610,~~815~~541.1082 B-1 86359LKQ1 SUB 4.~~78000~~91000% 2,~~624~~620,~~000~~962.0053 69,~~134~~489.7644 B-2 86359LKR9 SUB 45.~~88000~~01000% 2,~~332~~329,~~000~~300.0054 58,~~452~~433.0845 B-3 86359LKS7 SUB 5.~~48000~~61000% 1,~~458~~456,~~000~~312.0026 35,~~408~~272.72 B-4 86359LKT5 SUB 5.~~48000~~61000% 5,~~539~~532,~~000~~588.0021 1220,~~949~~031.8726 B-5 86359LKU2 SUB 5.~~48000~~61000% 3,~~790~~785,~~000~~612.0081 813,~~860~~706.8017 B-6 86359LKV0 SUB 5.~~48000~~61000% 2,~~621~~618,~~992~~957.6046 69,~~130~~482.0718 M-X 86359LKE8 SUB 0.~~00000~~07033% 0.00 0.00 R-1 86359LKF5 RES 0.00000% 500.00 0.00 R-2 86359LKG3 RES 0.00000% 500.00 0.00 R-3 86359LKH1 RES 0.00000% 500.00 0176.0097 Totals ~~583~~580,~~011~~229,~~142~~326.6077 12,~~641~~100,~~429~~565.2365

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses I-A-1 ~~884~~5,~~220~~472,465.1121 0.00 ~~241~~236,~~681~~209,~~779~~314.8968 16,~~490~~248,~~635~~733.1166 0.00 I-A-2 ~~395~~2,~~687~~448,921.4675 0.00 ~~108~~105,~~152~~703,~~312~~390.5479 ~~669~~2,~~318~~799,094.8890 0.00 I-A-3 ~~193~~1,~~786~~199,350.5479 0.00 5251,~~967~~767,~~213~~862.4668 ~~331~~1,~~119~~374,951.1282 0.00 I-X 0.00 0.00 0.00 0118,771.0031 0.00 II-A-1 1,~~254~~311,~~655~~909.1658 0.00 ~~131~~130,~~422~~110,~~344~~435.8426 1,~~766~~824,~~022~~916.0941 0.00 M-1 83,~~436~~327.3826 0.00 7,~~279~~276,~~563~~236.6236 2728,~~972~~338.2763 0.00 M-2 73,~~761~~061.5110 0.00 6,~~697~~694,~~238~~177.4939 2526,~~940~~387.4613 0.00 M-3 41,~~724~~863.0514 0.00 4,~~076~~074,~~275~~412.9581 1417,~~265~~907.2008 0.00 M-4 41,~~049~~596.1898 0.00 3,~~493~~492,~~950~~353.8284 1215,~~227~~228.3170 0.00 M-5 31,~~712~~464.3312 0.00 3,~~203~~201,~~287~~823.6755 1113,~~210~~061.1193 0.00 M-6 31,~~374~~330.3281 0.00 2,~~911~~910,~~625~~294.6887 1011,~~189~~872.4263 0.00 B-1 31,~~037~~197.4796 0.00 2,~~620~~619,~~962~~764.5357 910,~~172~~687.2340 0.00 B-2 21,~~699~~064.4665 0.00 2,~~329~~328,~~300~~235.5489 89,~~151~~498.5410 0.00 B-3 ~~1,687~~665.7463 0.00 1,~~456~~455,~~312~~646.2663 5,~~096~~938.4635 0.00 B-4 62,~~411~~528.7977 0.00 5,~~532~~530,~~588~~059.2144 1922,~~361~~560.6603 0.00 B-5 41,~~387~~730.1929 0.00 3,~~785~~783,~~612~~882.8152 1315,~~247~~436.9946 0.00 B-6 31,~~035~~197.1404 0.00 2,~~618~~617,~~957~~759.4671 910,~~165~~679.2122 0.00 M-X 0.00 0.00 0.00 0.00 0.00 R-1 500.00 0.00 0.00 500.00 0.00 R-2 500.00 0.00 0.00 500.00 0.00 R-3 500.00 0.00 0.00 50176.0097 0.00 Totals 210,~~781~~453,~~815~~675.8308 0.00 ~~580~~569,~~229~~775,~~326~~650.7799 412,~~423~~554,~~245~~240.0673 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) I-A-1 242,566,000.00 ~~242~~241,~~566~~681,~~000~~779.0089 0142,285.0044 ~~884~~5,~~220~~330,179.1177 0.00 0.00 I-A-2 108,548,000.00 108,~~548~~152,~~000~~312.0054 063,672.0057 ~~395~~2,~~687~~385,249.4619 0.00 0.00 I-A-3 53,161,000.00 5352,~~161~~967,~~000~~213.0046 031,183.0041 ~~193~~1,~~786~~168,167.5437 0.00 0.00 I-X 0.00 0.00 0.00 0.00 0.00 0.00 II-A-1 132,677,000.00 ~~132~~131,~~677~~422,~~000~~344.0084 07,417.0021 1,~~254~~304,~~655~~492.1637 0.00 0.00 M-1 7,288,000.00 7,~~288~~279,~~000~~563.0062 83,~~436~~327.3826 0.00 0.00 0.00 M-2 6,705,000.00 6,~~705~~697,~~000~~238.0049 73,~~761~~061.5110 0.00 0.00 0.00 M-3 4,081,000.00 4,~~081~~076,~~000~~275.0095 41,~~724~~863.0514 0.00 0.00 0.00 M-4 3,498,000.00 3,~~498~~493,~~000~~950.0082 41,~~049~~596.1898 0.00 0.00 0.00 M-5 3,207,000.00 3,~~207~~203,~~000~~287.0067 31,~~712~~464.3312 0.00 0.00 0.00 M-6 2,915,000.00 2,~~915~~911,~~000~~625.0068 31,~~374~~330.3281 0.00 0.00 0.00 B-1 2,624,000.00 2,~~624~~620,~~000~~962.0053 31,~~037~~197.4796 0.00 0.00 0.00 B-2 2,332,000.00 2,~~332~~329,~~000~~300.0054 21,~~699~~064.4665 0.00 0.00 0.00 B-3 1,458,000.00 1,~~458~~456,~~000~~312.0026 ~~1,687~~665.7463 0.00 0.00 0.00 B-4 5,539,000.00 5,~~539~~532,~~000~~588.0021 62,~~411~~528.7977 0.00 0.00 0.00 B-5 3,790,000.00 3,~~790~~785,~~000~~612.0081 41,~~387~~730.1929 0.00 0.00 0.00 B-6 2,621,992.60 2,~~621~~618,~~992~~957.6046 31,~~035~~197.1404 0.00 0.00 0.00 M-X 0.00 0.00 0.00 0.00 0.00 0.00 R-1 50.00 500.00 0.00 500.00 0.00 0.00 R-2 50.00 500.00 0.00 500.00 0.00 0.00 R-3 50.00 500.00 0.00 500.00 0.00 0.00 Totals 583,011,142.60 ~~583~~580,~~011~~229,~~142~~326.6077 53265,~~316~~586.5638 210,~~728~~188,~~499~~088.2770 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 I-A-1 ~~884~~5,~~220~~472,465.1121 ~~241~~236,~~681~~209,~~779~~314.8968 0.~~99635472~~97379400 ~~884~~5,~~220~~472,465.1121 I-A-2 ~~395~~2,~~687~~448,921.4675 ~~108~~105,~~152~~703,~~312~~390.5479 0.~~99635472~~97379400 ~~395~~2,~~687~~448,921.4675 I-A-3 ~~193~~1,~~786~~199,350.5479 5251,~~967~~767,~~213~~862.4668 0.~~99635472~~97379400 ~~193~~1,~~786~~199,350.5479 I-X 0.00 0.00 0.00000000 0.00 II-A-1 1,~~254~~311,~~655~~909.1658 ~~131~~130,~~422~~110,~~344~~435.8426 0.~~99054354~~98065554 1,~~254~~311,~~655~~909.1658 M-1 83,~~436~~327.3826 7,~~279~~276,~~563~~236.6236 0.~~99884243~~99838589 83,~~436~~327.3826 M-2 73,~~761~~061.5110 6,~~697~~694,~~238~~177.4939 0.~~99884243~~99838589 73,~~761~~061.5110 M-3 41,~~724~~863.0514 4,~~076~~074,~~275~~412.9581 0.~~99884243~~99838589 41,~~724~~863.0514 M-4 41,~~049~~596.1898 3,~~493~~492,~~950~~353.8284 0.~~99884243~~99838589 41,~~049~~596.1898 M-5 31,~~712~~464.3312 3,~~203~~201,~~287~~823.6755 0.~~99884243~~99838589 31,~~712~~464.3312 M-6 31,~~374~~330.3281 2,~~911~~910,~~625~~294.6887 0.~~99884243~~99838589 31,~~374~~330.3281 B-1 31,~~037~~197.4796 2,~~620~~619,~~962~~764.5357 0.~~99884243~~99838589 31,~~037~~197.4796 B-2 21,~~699~~064.4665 2,~~329~~328,~~300~~235.5489 0.~~99884243~~99838589 21,~~699~~064.4665 B-3 ~~1,687~~665.7463 1,~~456~~455,~~312~~646.2663 0.~~99884243~~99838589 ~~1,687~~665.7463 B-4 62,~~411~~528.7977 5,~~532~~530,~~588~~059.2144 0.~~99884243~~99838589 62,~~411~~528.7977 B-5 41,~~387~~730.1929 3,~~785~~783,~~612~~882.8152 0.~~99884243~~99838589 41,~~387~~730.1929 B-6 31,~~035~~197.1404 2,~~618~~617,~~957~~759.4671 0.~~99884243~~99838562 31,~~035~~197.1404 M-X 0.00 0.00 0.00000000 0.00 R-1 500.00 0.00 0.00000000 500.00 R-2 500.00 0.00 0.00000000 500.00 R-3 500.00 0.00 0.00000000 500.00 Totals 210,~~781~~453,~~815~~675.8308 ~~580~~569,~~229~~775,~~326~~650.7799 0.~~99522854~~97729805 210,~~781~~453,~~815~~675.8308

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 242,566,000.00 ~~1000~~996.~~00000000~~35472362 0.~~00000000~~58658443 321.~~64527638~~97414217 0.00000000 I-A-2 108,548,000.00 ~~1000~~996.~~00000000~~35472362 0.~~00000000~~58658446 321.~~64527638~~97414222 0.00000000 I-A-3 53,161,000.00 ~~1000~~996.~~00000000~~35472358 0.~~00000000~~58658434 321.~~64527642~~97414213 0.00000000 I-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 132,677,000.00 ~~1000~~990.~~00000000~~54353686 0.~~00000000~~05590426 9.~~45646314~~83209124 0.00000000 M-1 7,288,000.00 ~~1000~~998.~~00000000~~84242865 10.~~15757135~~45653952 0.00000000 0.00000000 M-2 6,705,000.00 ~~1000~~998.~~00000000~~84242953 10.~~15757047~~45653990 0.00000000 0.00000000 M-3 4,081,000.00 ~~1000~~998.~~00000000~~84242833 10.~~15757167~~45654006 0.00000000 0.00000000 M-4 3,498,000.00 ~~1000~~998.~~00000000~~84242996 10.~~15757004~~45654088 0.00000000 0.00000000 M-5 3,207,000.00 ~~1000~~998.~~00000000~~84242906 10.~~15757094~~45653882 0.00000000 0.00000000 M-6 2,915,000.00 ~~1000~~998.~~00000000~~84242882 10.~~15757118~~45653859 0.00000000 0.00000000 B-1 2,624,000.00 ~~1000~~998.~~00000000~~84242759 10.~~15757241~~45653963 0.00000000 0.00000000 B-2 2,332,000.00 ~~1000~~998.~~00000000~~84242710 10.~~15757290~~45653945 0.00000000 0.00000000 B-3 1,458,000.00 ~~1000~~998.~~00000000~~84242798 10.~~15757202~~45653635 0.00000000 0.00000000 B-4 5,539,000.00 ~~1000~~998.~~00000000~~84242824 10.~~15757176~~45653909 0.00000000 0.00000000 B-5 3,790,000.00 ~~1000~~998.~~00000000~~84243008 10.~~15756992~~45654090 0.00000000 0.00000000 B-6 2,621,992.60 ~~1000~~998.~~00000000~~84242999 10.~~15757001~~45653828 0.00000000 0.00000000 M-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 R-2 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 R-3 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~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 I-A-1 0.00000000 322.~~64527638~~56072661 ~~996~~973.~~35472362~~79399702 0.~~99635472~~97379400 322.~~64527638~~56072661 I-A-2 0.00000000 322.~~64527638~~56072659 ~~996~~973.~~35472362~~79399703 0.~~99635472~~97379400 322.~~64527638~~56072659 I-A-3 0.00000000 322.~~64527642~~56072666 ~~996~~973.~~35472358~~79399710 0.~~99635472~~97379400 322.~~64527642~~56072666 I-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 9.~~45646314~~88799551 ~~990~~980.~~54353686~~65554135 0.~~99054354~~98065554 9.~~45646314~~88799551 M-1 0.00000000 10.~~15757135~~45653952 998.~~84242865~~38588913 0.~~99884243~~99838589 10.~~15757135~~45653952 M-2 0.00000000 10.~~15757047~~45653990 998.~~84242953~~38588963 0.~~99884243~~99838589 10.~~15757047~~45653990 M-3 0.00000000 10.~~15757167~~45654006 998.~~84242833~~38588826 0.~~99884243~~99838589 10.~~15757167~~45654006 M-4 0.00000000 10.~~15757004~~45654088 998.~~84242996~~38588908 0.~~99884243~~99838589 10.~~15757004~~45654088 M-5 0.00000000 10.~~15757094~~45653882 998.~~84242906~~38589024 0.~~99884243~~99838589 10.~~15757094~~45653882 M-6 0.00000000 10.~~15757118~~45653859 998.~~84242882~~38589022 0.~~99884243~~99838589 10.~~15757118~~45653859 B-1 0.00000000 10.~~15757241~~45653963 998.~~84242759~~38588796 0.~~99884243~~99838589 10.~~15757241~~45653963 B-2 0.00000000 10.~~15757290~~45653945 998.~~84242710~~38588765 0.~~99884243~~99838589 10.~~15757290~~45653945 B-3 0.00000000 10.~~15757202~~45653635 998.~~84242798~~38589163 0.~~99884243~~99838589 10.~~15757202~~45653635 B-4 0.00000000 10.~~15757176~~45653909 998.~~84242824~~38588915 0.~~99884243~~99838589 10.~~15757176~~45653909 B-5 0.00000000 10.~~15756992~~45654090 998.~~84243008~~38588918 0.~~99884243~~99838589 10.~~15756992~~45654090 B-6 0.00000000 10.~~15757001~~45653828 998.~~84242999~~38562092 0.~~99884243~~99838562 10.~~15757001~~45653828 M-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-2 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-3 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~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 I-A-1 242,566,000.00 3.~~60000~~73000% ~~242~~241,~~566~~681,~~000~~779.0089 ~~606~~776,~~415~~268.0045 0.00 0.00 I-A-2 108,548,000.00 3.~~63000~~76000% 108,~~548~~152,~~000~~312.0054 ~~273~~350,~~631~~173.4215 0.00 0.00 I-A-3 53,161,000.00 3.~~72000~~85000% 5352,~~161~~967,~~000~~213.0046 ~~137~~175,~~332~~601.5803 0.00 0.00 I-X 0.00 0.~~00000~~35384% ~~404~~402,~~275~~801,~~000~~305.0090 0118,771.0031 0.00 0.00 II-A-1 132,677,000.00 4.~~62507~~68420% ~~132~~131,~~677~~422,~~000~~344.0084 ~~511~~513,~~366~~006.9283 0.00 0.00 M-1 7,288,000.00 3.~~86000~~99000% 7,~~288~~279,~~000~~563.0062 1925,~~535~~011.8937 0.00 0.00 M-2 6,705,000.00 34.~~91000~~04000% 6,~~705~~697,~~000~~238.0049 1823,~~205~~298.9495 0.00 0.00 M-3 4,081,000.00 34.~~96000~~09000% 4,~~081~~076,~~000~~275.0095 1114,~~222~~356.7542 0.00 0.00 M-4 3,498,000.00 4.~~08000~~21000% 3,~~498~~493,~~000~~950.0082 912,~~911~~666.0054 0.00 0.00 M-5 3,207,000.00 4.~~10000~~23000% 3,~~207~~203,~~000~~287.0067 911,~~131~~667.0498 0.00 0.00 M-6 2,915,000.00 4.~~15000~~28000% 2,~~915~~911,~~000~~625.0068 810,~~400~~730.8796 0.00 0.00 B-1 2,624,000.00 4.~~78000~~91000% 2,~~624~~620,~~000~~962.0053 811,~~710~~081.2258 0.00 0.00 B-2 2,332,000.00 45.~~88000~~01000% 2,~~332~~329,~~000~~300.0054 710,~~902~~048.8999 0.00 0.00 B-3 1,458,000.00 5.~~48000~~61000% 1,~~458~~456,~~000~~312.0026 57,~~548~~035.5020 0.00 0.00 B-4 5,539,000.00 5.~~48000~~61000% 5,~~539~~532,~~000~~588.00 21 26,~~078~~727.9701 0.00 0.00 B-5 3,790,000.00 5.~~48000~~61000% 3,~~790~~785,~~000~~612.0081 1418,~~423~~287.0666 0.00 0.00 B-6 2,621,992.60 5.~~48000~~61000% 2,~~621~~618,~~992~~957.6046 912,~~978~~651.1474 0.00 0.00 M-X 0.00 0.~~00000~~07033% 46,~~058~~005,~~992~~675.0033 02,696.0015 0.00 0.00 R-1 50.00 0.00000% 500.00 0.00 0.00 0.00 R-2 50.00 0.00000% 500.00 0.00 0.00 0.00 R-3 50.00 0.00000% 500.00 0.00 0.00 0.00 Totals 583,011,142.60 12,~~672~~120,~~795~~081.1932 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 I-A-1 0.00 0.00 ~~606~~776,~~415~~268.0045 0.00 ~~241~~236,~~681~~209,~~779~~314.8968 I-A-2 0.00 0.00 ~~273~~350,~~631~~173.4215 0.00 ~~108~~105,~~152~~703,~~312~~390.5479 I-A-3 0.00 0.00 ~~137~~175,~~332~~601.5803 0.00 5251,~~967~~767,~~213~~862.4668 I-X 0.00 0.00 0118,771.0031 0.00 ~~402~~393,~~801~~680,~~305~~568.9015 II-A-1 0.00 0.00 ~~511~~513,~~366~~006.9383 0.00 ~~131~~130,~~422~~110,~~344~~435.8426 M-1 0.00 0.00 1925,~~535~~011.8937 0.00 7,~~279~~276,~~563~~236.6236 M-2 0.00 0.00 1823,~~178~~326.9503 0.00 6,~~697~~694,~~238~~177.4939 M-3 0.00 0.00 916,~~541~~043.1594 0.00 4,~~076~~074,~~275~~412.9581 M-4 0.00 0.00 813,~~178~~631.1372 0.00 3,~~493~~492,~~950~~353.8284 M-5 0.00 0.00 711,~~497~~597.7881 0.00 3,~~203~~201,~~287~~823.6755 M-6 0.00 0.00 610,~~815~~541.1082 0.00 2,~~911~~910,~~625~~294.6887 B-1 0.00 0.00 69,~~134~~489.7644 0.00 2,~~620~~619,~~962~~764.5357 B-2 0.00 0.00 58,~~452~~433.0845 0.00 2,~~329~~328,~~300~~235.5489 B-3 0.00 0.00 35,~~408~~272.72 0.00 1,~~456~~455,~~312~~646.2663 B-4 0.00 0.00 1220,~~949~~031.8726 0.00 5,~~532~~530,~~588~~059.2144 B-5 0.00 0.00 813,~~860~~706.8017 0.00 3,~~785~~783,~~612~~882.8152 B-6 0.00 0.00 69,~~130~~482.0718 0.00 2,~~618~~617,~~957~~759.4671 M-X 0.00 0.00 0.00 0.00 4645,~~005~~984,~~675~~647.4458 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0176.0097 0.00 0.00 Totals 0.00 0.00 12,~~641~~100,~~429~~565.2365 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 I-A-1 242,566,000.00 3.~~60000~~73000% ~~1000~~996.~~00000000~~35472362 23.~~50000000~~20023602 0.00000000 0.00000000 I-A-2 108,548,000.00 3.~~63000~~76000% ~~1000~~996.~~00000000~~35472362 23.~~52083336~~22597514 0.00000000 0.00000000 I-A-3 53,161,000.00 3.~~72000~~85000% ~~1000~~996.~~00000000~~35472358 23.~~58333327~~30319275 0.00000000 0.00000000 I-X 0.00 0.~~00000~~35384% ~~1000~~996.~~00000000~~35472364 0.~~00000000~~29378841 0.00000000 0.00000000 II-A-1 132,677,000.00 4.~~62507~~68420% ~~1000~~990.~~00000000~~54353686 3.~~85422432~~86658449 0.00000000 0.00000000 M-1 7,288,000.00 3.~~86000~~99000% ~~1000~~998.~~00000000~~84242865 23.~~68055571~~43185648 0.00000000 0.00000000 M-2 6,705,000.00 34.~~91000~~04000% ~~1000~~998.~~00000000~~84242953 23.~~71527815~~47486204 0.00000000 0.00000000 M-3 4,081,000.00 34.~~96000~~09000% ~~1000~~998.~~00000000~~84242833 23.~~75000000~~51786817 0.00000000 0.00000000 M-4 3,498,000.00 4.~~08000~~21000% ~~1000~~998.~~00000000~~84242996 23.~~83333333~~62108062 0.00000000 0.00000000 M-5 3,207,000.00 4.~~10000~~23000% ~~1000~~998.~~00000000~~84242906 23.~~84722170~~63828500 0.00000000 0.00000000 M-6 2,915,000.00 4.~~15000~~28000% ~~1000~~998.~~00000000~~84242882 23.~~88194511~~68128988 0.00000000 0.00000000 B-1 2,624,000.00 4.~~78000~~91000% ~~1000~~998.~~00000000~~84242759 34.~~31944360~~22316311 0.00000000 0.00000000 B-2 2,332,000.00 45.~~88000~~01000% ~~1000~~998.~~00000000~~84242710 34.~~38888937~~30917238 0.00000000 0.00000000 B-3 1,458,000.00 5.~~48000~~61000% ~~1000~~998.~~00000000~~84242798 34.~~80555556~~82524005 0.00000000 0.00000000 B-4 5,539,000.00 5.~~48000~~61000% ~~1000~~998.~~00000000~~84242824 34.~~80555515~~82524102 0.00000000 0.00000000 B-5 3,790,000.00 5.~~48000~~61000% ~~1000~~998.~~00000000~~84243008 34.~~80555673~~82524011 0.00000000 0.00000000 B-6 2,621,992.60 5.~~48000~~61000% ~~1000~~998.~~00000000~~84242999 34.~~80555613~~82523864 0.00000000 0.00000000 M-X 0.00 0.~~00000~~07033% ~~1000~~998.~~00000000~~84242647 0.~~00000000~~05853689 0.00000000 0.00000000 R-1 50.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000% ~~1000~~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 I-A-1 0.00000000 0.00000000 23.~~50000000~~20023602 0.00000000 ~~996~~973.~~35472362~~79399702 I-A-2 0.00000000 0.00000000 23.~~52083336~~22597514 0.00000000 ~~996~~973.~~35472362~~79399703 I-A-3 0.00000000 0.00000000 23.~~58333327~~30319275 0.00000000 ~~996~~973.~~35472358~~79399710 I-X 0.00000000 0.00000000 0.~~00000000~~29378841 0.00000000 ~~996~~973.~~35472364~~79399703 II-A-1 0.00000000 0.00000000 3.~~85422439~~86658449 0.00000000 ~~990~~980.~~54353686~~65554135 M-1 0.00000000 0.00000000 23.~~68055571~~43185648 0.00000000 998.~~84242865~~38588913 M-2 0.00000000 0.00000000 23.~~71125280~~47890082 0.00000000 998.~~84242953~~38588963 M-3 0.00000000 0.00000000 23.~~33794413~~93137466 0.00000000 998.~~84242833~~38588826 M-4 0.00000000 0.00000000 23.~~33794454~~89700400 0.00000000 998.~~84242996~~38588908 M-5 0.00000000 0.00000000 23.~~33794200~~61640474 0.00000000 998.~~84242906~~38589024 M-6 0.00000000 0.00000000 23.~~33794168~~61640480 0.00000000 998.~~84242882~~38589022 B-1 0.00000000 0.00000000 23.~~33794207~~61640244 0.00000000 998.~~84242759~~38588796 B-2 0.00000000 0.00000000 23.~~33794168~~61640223 0.00000000 998.~~84242710~~38588765 B-3 0.00000000 0.00000000 23.~~33794239~~61640604 0.00000000 998.~~84242798~~38589163 B-4 0.00000000 0.00000000 23.~~33794367~~61640368 0.00000000 998.~~84242824~~38588915 B-5 0.00000000 0.00000000 23.~~33794195~~61640369 0.00000000 998.~~84243008~~38588918 B-6 0.00000000 0.00000000 23.~~33794329~~61640227 0.00000000 998.~~84242999~~38562092 M-X 0.00000000 0.00000000 0.00000000 0.00000000 998.~~84242886~~38588695 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 03539.~~00000000~~40000000 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 412,~~544~~695,~~302~~280.1983 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3574,~~259~~381.6686 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 412,~~579~~769,~~561~~662.8569 Withdrawals Reimbursement for Servicer Advances 035,259.0066 Payment of Service Fee ~~156~~180,~~316~~162.7929 Payment of Interest and Principal 412,~~423~~554,~~245~~240.0674 Total Withdrawals (Pool Distribution Amount) 412,~~579~~769,~~561~~662.8569 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~113~~127,~~441~~721.8265 Additional Servicing Fee 4252,~~874~~440.9764 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~156~~180,~~316~~162.7929

~~OTHER~~LOAN ~~ACCOUNTS~~STATUS ~~Beginning~~STRATIFICATION/CREDIT ~~Current~~ENHANCEMENT ~~Current~~STATEMENT ~~Ending~~DELINQUENT ~~Account~~BANKRUPTCY ~~Type~~FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance ~~Withdrawals~~Principal ~~Deposits~~Balance Principal Balance ~~Group~~Principal IBalance ~~Supplemental~~Principal ~~Fund~~Balance ~~690~~0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 64 0 0 0 64 22,~~000~~601,187.10 0.00 ~~273~~0.00 0.00 22,~~376~~601,187.4210 60 Days 1 0 0 0 1 262,500.00 ~~416~~0.00 0.00 0.00 262,~~623~~500.5800 ~~Class~~90 RDays ~~Deposit~~0 ~~Amount~~0 ~~150~~0 0 0 0.00 ~~150~~0.00 0.00 0.00 ~~Senior~~0.00 ~~Shortfall~~120 ~~Reserve~~Days ~~Fund~~0 ~~5,000~~0 0 0 0 0.00 0.00 0.00 ~~5,000~~0.00 ~~Subordinate~~0.00 ~~Shortfall~~150 ~~Reserve~~Days ~~Fund~~0 0 0 0 0 0.00 50.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 65 0 0 0 65 22,~~000~~863,687.10 0.00 0.00 0.00 22,863,687.10 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 3.830042% 0.000000% 0.000000% 0.000000% 3.830042% 3.992976% 0.000000% 0.000000% 0.000000% 3.992976% 60 Days 0.059844% 0.000000% 0.000000% 0.000000% 0.059844% 0.046376% 0.000000% 0.000000% 0.000000% 0.046376% 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 3.889886% 0.000000% 0.000000% 0.000000% 3.889886% 4.039352% 0.000000% 0.000000% 0.000000% 4.039352%

Delinquency Status By Groups

~~LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 3061 0 0 0 3061 1021,~~914~~700,~~837~~549.7664 0.00 0.00 0.00 1021,~~914~~700,~~837~~549.7664 60 Days 01 0 0 0 01 0262,500.00 0.00 0.00 0.00 0262,500.00 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 3062 0 0 0 3062 1021,~~914~~963,~~837~~049.7664 0.00 0.00 0.00 1021,~~914~~963,~~837~~049.7664 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 4.501845% 0.000000% 0.000000% 0.000000% 4.501845% 5.087662% 0.000000% 0.000000% 0.000000% 5.087662% 60 Days 0.073801% 0.000000% 0.000000% 0.000000% 0.073801% 0.061543% 0.000000% 0.000000% 0.000000% 0.061543% 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 4.575646% 0.000000% 0.000000% 0.000000% 4.575646% 5.149205% 0.000000% 0.000000% 0.000000% 5.149205% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 3 0 0 0 3 900,637.46 0.00 0.00 0.00 900,637.46 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 3 0 0 0 3 900,637.46 0.00 0.00 0.00 900,637.46 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~945525~~949367% 0.000000% 0.000000% 0.000000% 10.~~945525~~949367% 20.~~167296~~645661% 0.000000% 0.000000% 0.000000% 20.~~167296~~645661% 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 10.~~945525~~949367% 0.000000% 0.000000% 0.000000% 10.~~945525~~949367% 20.~~167296~~645661% 0.000000% 0.000000% 0.000000% 20.~~167296~~645661%

~~DELINQUENT~~OTHER ~~BANKRUPTCY~~INFORMATION ~~FORECLOSURE~~Current ~~REO~~Period ~~Total~~Class ~~Group~~A 1Insufficient NoFunds ~~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 27 0 0 0 27 10,024,104.43 0.00 0.00 0.00 10,024,104.43 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 27 0 0 0 27 10,024,104.43 0.00 0.00 0.00 10,024,104.43 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.144559% 0.000000% 0.000000% 0.000000% 2.144559% 2.604795% 0.000000% 0.000000% 0.000000% 2.604795% 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 2.144559% 0.000000% 0.000000% 0.000000% 2.144559% 2.604795% 0.000000% 0.000000% 0.000000% 2.604795% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance ~~Principal~~of ~~Balance~~Contaminated ~~Principal~~Properties ~~Balance Principal Balance Principal Balance~~ 0~~-29 Days 0 0 0 0 0~~.00 ~~0.00~~Periodic ~~0.00~~Advance ~~0.00 30 Days 3 0 0 0 3 890~~74,~~733~~381.33 0.00 0.00 0.00 890,733.33 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 3 0 0 0 3 890,733.33 0.00 0.00 0.00 890,733.33 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.060071% 0.000000% 0.000000% 0.000000% 1.060071% 0.749885% 0.000000% 0.000000% 0.000000% 0.749885% 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 1.060071% 0.000000% 0.000000% 0.000000% 1.060071% 0.749885% 0.000000% 0.000000% 0.000000% 0.749885%86

REO Detail - All Mortgage Loans in REO during Current Period

~~OTHER~~Summary ~~INFORMATION~~12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current ~~Period~~Principal ~~Class~~Balance A0.00 ~~Insufficient~~Nov-04 ~~Funds~~0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance of0.00 ~~Contaminated~~Apr-05 ~~Properties~~0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% 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. Group 1 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-04 0.000% Original Principal Balance 0.00 ~~Periodic~~Oct-04 ~~Advance~~0.000% ~~35,259~~Current Principal Balance 0.6600 Nov-04 0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% 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. Group 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% 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.

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

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. Group 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. Group 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 34.~~127288~~716877% Weighted Average Net Coupon 24.~~893793~~452730% Weighted Average Pass-Through Rate 24.~~805545~~344275% Weighted Average Maturity(Stepdown Calculation) ~~357~~356 Beginning Scheduled Collateral Loan Count 1,~~719~~542 Number Of Loans Paid In Full ~~177~~(129) Ending Scheduled Collateral Loan Count 1,~~542~~671 Beginning Scheduled Collateral Balance ~~583~~580,~~011~~229,~~142~~326.6021 Ending Scheduled Collateral Balance ~~580~~569,~~229~~776,~~326~~350.2138 Ending Actual Collateral Balance at 3029-~~Jun~~Jul-2005 ~~503~~566,~~615~~023,~~442~~661.2080 Monthly P&I Constant 12,~~996~~122,~~883~~512.7000 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~580~~569,~~229~~776,~~326~~350.2138 Scheduled Principal ~~605~~265,~~869~~586.9839 Unscheduled Principal 210,~~175~~188,~~795~~088.8470

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 24.~~533195~~606839 45.~~937533~~053939 34.~~127288~~716877 Weighted Average Net Rate 24.~~211393~~284842 4.~~839362~~966995 24.~~893793~~452730 Weighted Average Maturity ~~358~~357 ~~355~~354 ~~357~~356 Beginning Loan Count 1,~~261~~259 ~~287~~283 1,~~548~~542 Loans Paid In Full 2(96) 4(33) 6(129) Ending Loan Count 1,~~259~~355 ~~283~~316 1,~~542~~671 Beginning Scheduled Balance ~~386~~437,~~406~~426,~~008~~774.9905 ~~120~~142,~~034~~802,~~222~~552.0416 ~~506~~580,~~440~~229,~~231~~326.0321 Ending Scheduled Balance ~~437~~428,~~426~~286,~~774~~350.0537 ~~142~~141,~~802~~490,~~552~~000.1601 ~~580~~569,~~229~~776,~~326~~350.2138 Record Date 0607/3029/2005 0607/3029/2005 0607/3029/2005 Principal And Interest Constant 1,~~399~~520,~~895~~838.9366 ~~596~~601,~~987~~673.7734 12,~~996~~122,~~883~~512.7000 Scheduled Principal ~~601~~257,~~623~~526.1490 48,~~246~~059.8449 ~~605~~265,~~869~~586.9839 Unscheduled Principal ~~925~~8,~~013~~883,596.8033 1,~~250~~304,~~782~~492.0437 210,~~175~~188,~~795~~088.8470 Scheduled Interest ~~926~~1,~~628~~679,298.6639 ~~592~~601,~~740~~429.9354 12,~~519~~280,~~369~~727.5993 Servicing Fees ~~103~~117,~~621~~375.8611 910,~~819~~346.9654 ~~113~~127,~~441~~721.8265 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 1518,~~184~~787.2307 2733,~~690~~653.7457 4252,~~874~~440.9764 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 ~~807~~1,~~822~~543,136.5721 ~~555~~557,~~230~~429.2343 12,~~363~~100,~~052~~565.8064 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 24.~~208405~~233304 4.~~625069~~684197 24.~~805545~~344275

Miscellaneous Reporting Group Group 1 Average Loss Serverity Percentage 0.000000% Senior Percentage 9192.~~200000~~08410% Senior Prepayment Percentage 100.~~000000~~0000% Subordinate Percentage 87.~~800000~~915900% Subordinate Prepayment Percentage 0.000000% Group Group 2 Average Loss Serverity Percentage 0.000000% Senior Percentage 9192.~~200000~~03080% Senior Prepayment Percentage 100.~~000000~~0000% Subordinate Percentage 87.~~800000~~969200% 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 Group 1 228 ~~759~~8,~~800~~771,950.00 ~~757~~8,~~725~~754,771.8674 0 0.00 0.00 Group 2 43 1,~~107~~288,600.00 1,~~098~~288,~~265~~560.3541 0 0.00 0.00 Total 631 110,~~867~~060,~~400~~550.00 110,~~855~~043,~~991~~332.2115 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 Group 1 0 0.00 0.00 0 0.00 0.00 ~~297~~538,~~456~~099.2018 Group 2 0 0.00 0.00 0 0.00 0.00 ~~152~~15,~~516~~931.6996 Total 0 0.00 0.00 0 0.00 0.00 ~~449~~554,~~972~~031.8914

Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Group 1 ~~0052910759~~0000309351 CA 49.29 01-Jan-2005 345,000.00 345,000.00 Group 1 0000310912 CA 80.00 01-Jan-2005 388,000.00 388,000.00 Group 1 0000312439 CA 62.50 01-Jan-2005 500,000.00 495,000.00 Group 1 0000318352 CA 78.87 01-Feb-2005 337,600.00 337,600.00 Group 1 0000319483 CA 68.95 01-Jan-2005 596,500.00 596,500.00 Group 1 0000325779 CA 76.19 01-Feb-2005 800,000.00 800,000.00 Group 1 0003025145 WA 80.00 01-May-2005 368,000.00 368,511.57 Group 1 0003026145 CA 74.88 01-May-2005 528,000.00 528,513.07 Group 1 0003026532 MD 75.00 01-Jun-2005 180,000.00 179,985.30 Group 1 0022000007 CA 25.53 01-May-2005 ~~435~~263,000.00 ~~431~~260,~~887~~489.4989 Group 1 ~~2115118074~~0051119533 VA 80.00 01-Jun-2005 215,200.00 215,132.88 Group 1 0051119646 VA 80.00 01-Jun-2005 296,000.00 295,907.67 Group 1 0051119667 VA 50.00 01-Jun-2005 320,000.00 319,900.19 Group 1 0051119683 CA 6680.9700 01-Jun-2005 ~~324~~388,~~800~~000.00 ~~324~~387,~~025~~757.98 Group 21 ~~0022669758~~0051120496 FLVA 80.00 01-Jul-2005 340,000.00 339,304.28 Group 1 0052074333 NC 73.55 01-Feb-2005 320,000.00 318,733.55 Group 1 0052926284 IL 78.94 01-Jun-2005 180,000.00 178,712.04 Group 1 0053036281 AZ 80.00 01-Jun-2005 88,000.00 87,642.50 Group 1 0053080347 NJ 62.25 01-Jun-2005 164,900.00 164,113.73 Group 1 0053132577 NJ 80.00 01-Jun-2005 380,000.00 378,188.10 Group 1 0053198974 CA 79.9895 01-Jun-2005 ~~111~~193,500.00 ~~111~~192,576.74 Group 1 0053202859 CA 66.08 01-May-2005 247,500.00 246,256.08 Group 21 ~~0022709950~~0053257812 FLMA 7972.9873 01-Jun-2005 ~~286~~400,~~100~~000.00 ~~286~~398,~~100~~625.44 Group 1 2101111360 GA 83.68 01-Jun-2005 159,000.00 158,783.81 Group 1 2101111717 CO 75.00 01-Jul-2005 138,750.00 138,968.57 Group 1 2103104094 OH 80.00 01-Jul-2005 312,000.00 311,744.40 Group 1 2115118316 OH 80.00 01-Jul-2005 228,000.00 228,359.16 Group 1 2115119969 IL 76.66 01-Jul-2005 95,000.00 95,149.65 Group 2 ~~0041916539~~0000316349 FLCA 5070.00 01-~~Aug~~Jan-~~2004~~2005 ~~500~~791,000.00 ~~490~~790,~~665~~960.3541 Group 2 ~~2000034767~~0016011540 GACO 7580.00 01-~~Feb~~Jun-2005 ~~210~~373,600.00 373,600.00 Group 2 2000036484 AL 80.00 01-Mar-2005 124,000.00 ~~210~~124,000.00

Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning Group 1 ~~0052910759~~0000309351 Loan Paid in Full 0 5.500% 360 7 Group 1 0000310912 Loan Paid in Full 0 5.625% 360 7 Group 1 0000312439 Loan Paid in Full 0 5.375% 360 7 Group 1 0000318352 Loan Paid in Full 0 4.250% 360 6 Group 1 0000319483 Loan Paid in Full 0 5.250% 360 7 Group 1 0000325779 Loan Paid in Full 0 4.500% 360 6 Group 1 0003025145 Loan Paid in Full 0 5.375% 360 3 Group 1 0003026145 Loan Paid in Full 0 5.250% 360 3 Group 1 0003026532 Loan Paid in Full 0 5.250% 360 2 Group 1 0022000007 Loan Paid in Full (1) 1.000% 360 3 Group 1 0051119533 Loan Paid in Full 0 6.500% 360 2 Group 1 ~~2115118074~~0051119646 Loan Paid in Full 0 6.500% 360 2 Group 1 0051119667 Loan Paid in Full 0 6.500% 360 2 Group 1 0051119683 Loan Paid in Full 0 6.125% 360 2 Group 1 0051120496 Loan Paid in Full 0 1.950% 360 1 Group 1 0052074333 Loan Paid in Full (1) 6.008% 360 6 Group 1 0052926284 Loan Paid in Full (1) 1.000% 360 2 Group 1 0053036281 Loan Paid in Full 0 2.000% 360 2 Group 1 0053080347 Loan Paid in Full 0 1.000% 360 2 ~~0022669758~~Group 1 0053132577 Loan Paid in Full 0 1.000% 360 2 Group 1 0053198974 Loan Paid in Full 0 1.000% 360 2 Group 1 0053202859 Loan Paid in Full (1) 5.~~375~~758% ~~300~~360 3 Group 1 0053257812 Loan Paid in Full 0 3.000% 360 2 Group 1 2101111360 Loan Paid in Full 0 5.250% 360 2 ~~0022709950~~Group 1 2101111717 Loan Paid in Full 0 5.~~375~~750% ~~300~~360 1 Group 1 2103104094 Loan Paid in Full (1) 5.750% 360 1 Group 1 2115118316 Loan Paid in Full 0 5.750% 360 1 Group 1 2115119969 Loan Paid in Full 0 5.750% 360 1 Group 2 ~~0041916539~~0000316349 Loan Paid in Full 0 45.~~500~~625% 360 117 Group 2 ~~2000034767~~0016011540 Loan Paid in Full 0 5.~~000~~750% 360 2 Group 2 2000036484 Loan Paid in Full 0 7.250% 360 5

Prepayment - Voluntary Prepayments

Summary SMM CPR PSA Current Month 01.~~455~~838% Current Month 519.~~328~~956% Current Month 14,~~708~~153.~~307~~093% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 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 N/A N/A Jun-2005 N/A N/A Jul-2005 5.328% N/A Jul-2005 1,708.307% N/A Aug-2005 19.956% N/A Aug-2005 4,153.093% 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. Group 1 SMM CPR PSA Current Month 02.~~273~~132% Current Month 322.~~224~~789% Current Month 15,~~456~~793.~~733~~824% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 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 N/A N/A Jun-2005 N/A N/A Jul-2005 3.224% N/A Jul-2005 1,456.733% N/A Aug-2005 22.789% N/A Aug-2005 5,793.824% 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. Group 2 SMM CPR PSA Current Month 10.~~042~~927% Current Month 1110.~~812~~569% Current Month 1,~~951~~414.~~294~~701% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 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 N/A N/A Jun-2005 N/A N/A Jul-2005 11.812% N/A Jul-2005 1,951.294% N/A Aug-2005 10.569% N/A Aug-2005 1,414.701% 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 N/A N/A Jun-2005 N/A 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 N/A N/A Jun-2005 N/A 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. Group 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 N/A N/A Jun-2005 N/A 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 N/A N/A Jun-2005 N/A 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. Group 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 N/A N/A Jun-2005 N/A 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 N/A N/A Jun-2005 N/A 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 · Structured Asset Mortgage Investments II Trust 2005-AR3