8-K 1 ace05sd1_10509.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): September 26, 2005 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-SD1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-119047-04 Pooling and Servicing Agreement) (Commission 54-2165616 (State or other File Number) 54-2165617 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 September 26, 2005 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2005-SD1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-SD1 Trust, relating to the September 26, 2005 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-SD1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 9/27/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-SD1 Trust, relating to the September 26, 2005 distribution. EX-99.1

ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 78/2931/2005 Distribution Date: 89/2526/2005 ACE Securities Corporation Asset Backed Pass-Through Certificates Series ACE 2005-SD1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution A-1 004421KJ1 SEN 34.~~86000~~04125% 7065,~~751~~925,~~498~~007.9004 ~~235~~236,~~170~~817.1228 M-1 004421KK8 SEN 4.~~21000~~39125% 15,279,000.00 5559,~~390~~639.6203 M-2 004421KL6 SEN 4.~~71000~~89125% 7,826,000.00 3134,~~740~~025.9571 M-3 004421KM4 SEN 67.~~96000~~14125% 7,081,000.00 4244,~~438~~948.7961 M-4 004421KN2 SEN 6.~~46000~~64125% 1,863,000.00 10,~~363~~997.4691 CE ACE05SD1C SEN 0.00000% 8,569,896.53 ~~365~~295,~~438~~882.8052 P ACE05SD1P SEN 0.00000% 100.00 232,~~474~~616.7280 R-1 ACE5SD1R1 SEN 0.00000% 0.00 0.00 Totals ~~111~~106,~~370~~544,~~495~~003.4357 ~~764~~684,~~017~~927.4686

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 41,~~826~~459,~~491~~326.8688 0.00 6564,~~925~~465,~~007~~680.0416 51,~~061~~696,~~661~~144.9816 0.00 M-1 0.00 0.00 15,279,000.00 5559,~~390~~639.6203 0.00 M-2 0.00 0.00 7,826,000.00 3134,~~740~~025.9571 0.00 M-3 0.00 0.00 7,081,000.00 4244,~~438~~948.7961 0.00 M-4 0.00 0.00 1,863,000.00 10,~~363~~997.4691 0.00 CE 0.00 0.00 8,569,896.53 ~~365~~295,~~438~~882.8052 0.00 P 0.00 0.00 100.00 232,~~474~~616.7280 0.00 R-1 0.00 0.00 0.00 0.00 0.00 Totals 41,~~826~~459,~~491~~326.8688 0.00 ~~106~~105,~~544~~084,~~003~~676.5769 52,~~590~~144,~~509~~254.3274 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 112,394,000.00 7065,~~751~~925,~~498~~007.9004 0.00 41,~~826~~459,~~491~~326.8688 0.00 0.00 M-1 15,279,000.00 15,279,000.00 0.00 0.00 0.00 0.00 M-2 7,826,000.00 7,826,000.00 0.00 0.00 0.00 0.00 M-3 7,081,000.00 7,081,000.00 0.00 0.00 0.00 0.00 M-4 1,863,000.00 1,863,000.00 0.00 0.00 0.00 0.00 CE 4,598,579.00 8,569,896.53 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 Totals 149,041,679.00 ~~111~~106,~~370~~544,~~495~~003.4357 0.00 41,~~826~~459,~~491~~326.8688 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 41,~~826~~459,~~491~~326.8688 6564,~~925~~465,~~007~~680.0416 0.~~58655273~~57356870 41,~~826~~459,~~491~~326.8688 M-1 0.00 15,279,000.00 1.00000000 0.00 M-2 0.00 7,826,000.00 1.00000000 0.00 M-3 0.00 7,081,000.00 1.00000000 0.00 M-4 0.00 1,863,000.00 1.00000000 0.00 CE 0.00 8,569,896.53 1.86359667 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 Totals 41,~~826~~459,~~491~~326.8688 ~~106~~105,~~544~~084,~~003~~676.5769 0.~~71486046~~70506906 41,~~826~~459,~~491~~326.8688

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 112,394,000.00 ~~629~~586.~~49533694~~55272559 0.00000000 4212.~~94261135~~98402833 0.00000000 M-1 15,279,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 7,826,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 7,081,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 1,863,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 4,598,579.00 1863.59667410 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 4212.~~94261135~~98402833 ~~586~~573.~~55272559~~56869726 0.~~58655273~~57356870 4212.~~94261135~~98402833 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 1,863.59667410 1.86359667 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 112,394,000.00 34.~~86000~~04125% 7065,~~751~~925,~~498~~007.9004 ~~235~~236,~~170~~817.1228 0.00 0.00 M-1 15,279,000.00 4.~~21000~~39125% 15,279,000.00 5559,~~390~~639.6203 0.00 0.00 M-2 7,826,000.00 4.~~71000~~89125% 7,826,000.00 3134,~~740~~025.9571 0.00 0.00 M-3 7,081,000.00 67.~~96000~~14125% 7,081,000.00 4244,~~438~~948.7961 0.00 0.00 M-4 1,863,000.00 6.~~46000~~64125% 1,863,000.00 10,~~363~~997.4691 0.00 0.00 CE 4,598,579.00 0.00000% 8,569,896.53 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 149,041,679.00 ~~375~~386,~~103~~428.9454 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~235~~236,~~170~~817.1228 0.00 6564,~~925~~465,~~007~~680.0416 M-1 0.00 0.00 5559,~~390~~639.6203 0.00 15,279,000.00 M-2 0.00 0.00 3134,~~740~~025.9571 0.00 7,826,000.00 M-3 0.00 0.00 4244,~~438~~948.7961 0.00 7,081,000.00 M-4 0.00 0.00 10,~~363~~997.4691 0.00 1,863,000.00 CE 0.00 0.00 ~~365~~295,~~438~~882.8052 0.00 8,569,896.53 P 0.00 0.00 232,~~474~~616.7280 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~764~~684,~~017~~927.4686 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 112,394,000.00 34.~~86000~~04125% ~~629~~586.~~49533694~~55272559 2.~~09237255~~10702778 0.00000000 0.00000000 M-1 15,279,000.00 4.~~21000~~39125% 1000.00000000 3.~~62527783~~90333333 0.00000000 0.00000000 M-2 7,826,000.00 4.~~71000~~89125% 1000.00000000 4.~~05583312~~34777792 0.00000000 0.00000000 M-3 7,081,000.00 67.~~96000~~14125% 1000.00000000 56.~~99333286~~34777715 0.00000000 0.00000000 M-4 1,863,000.00 6.~~46000~~64125% 1000.00000000 5.~~56278046~~90333333 0.00000000 0.00000000 CE 4,598,579.00 0.00000% 1863.59667410 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 2.~~09237255~~10702778 0.00000000 ~~586~~573.~~55272559~~56869726 M-1 0.00000000 0.00000000 3.~~62527783~~90333333 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 4.~~05583312~~34777792 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 56.~~99333286~~34777715 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 5.~~56278046~~90333333 0.00000000 1000.00000000 CE 0.00000000 0.00000000 7964.~~46776602~~34216309 0.00000000 1863.59667410 P 0.00000000 0.00000000 ~~234747~~26168.~~20000000~~00000000 0.00000000 1000.00000000 R-1 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 52,~~620~~191,~~167~~926.6088 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0541.0042 Prepayment Penalties 232,~~474~~616.7280 Total Deposits 52,~~643~~195,~~642~~085.3210 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 5350,~~133~~830.0036 Payment of Interest and Principal 52,~~590~~144,~~509~~254.3274 Total Withdrawals (Pool Distribution Amount) 52,~~643~~195,~~642~~085.3210 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 4644,~~404~~393.3733 Credit Risk Manager Fee- Risk Management Group, LLC 1,~~856~~775.1773 Master Servicing Fee 4,~~872~~661.4630 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 5350,~~133~~830.0036

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 2932 0 0 2932 32,~~198~~938,~~696~~003.5099 0.00 0.00 32,~~198~~938,~~696~~003.5099 30 Days ~~100~~74 1411 01 0 ~~114~~86 86,~~056~~148,~~703~~552.9514 1911,~~143,919~~415.9105 065,822.0039 0.00 97,~~200~~125,~~623~~789.8658 60 Days 3644 67 20 0 4451 34,~~283~~215,~~838~~784.5435 ~~274~~756,~~776~~493.1099 ~~84,426~~0.2200 0.00 34,~~643~~972,~~040~~278.8634 90 Days 1720 11 7 9 0 3536 ~~891~~1,~~867~~596,783.6544 ~~863~~531,~~102~~898.4205 ~~668~~671,~~869~~284.4778 0.00 2,~~423~~799,~~839~~966.5427 120 Days 98 611 58 0 2027 ~~660~~382,~~187~~434.4984 ~~399~~664,~~146~~631.6983 ~~340~~836,~~285~~939.6095 0.00 1,~~399~~884,~~619~~006.7862 150 Days 87 1110 43 0 2320 ~~544~~341,~~637~~015.2409 ~~612~~617,~~388~~467.6832 ~~339~~181,~~580~~853.9088 0.00 1,~~496~~140,~~606~~336.8229 180+ Days 1712 3130 2130 02 6974 1616,~~613,344~~241.1972 2,~~339~~137,~~337~~410.1525 13,~~777~~078,~~144~~376.9069 0232,023.0042 56,~~729~~064,~~826~~052.2408 Totals ~~187~~165 108 3951 02 ~~334~~326 1513,~~050~~300,~~579~~811.0658 8,~~831~~557,~~367~~320.4548 34,~~210~~834,~~307~~277.0969 0232,023.0042 2726,~~092~~924,~~253~~433.6017 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 23.~~700186~~024575% 0.000000% 0.000000% 23.~~700186~~024575% 2.~~992919~~787029% 0.000000% 0.000000% 2.~~992919~~787029% 30 Days 96.~~310987~~994329% 1.~~303538~~039698% 0.~~000000~~094518% 0.000000% 108.~~614525~~128544% 75.~~538403~~832598% 10.~~070330~~864580% 0.~~000000~~062440% 0.000000% 86.~~608733~~759618% 60 Days 34.~~351955~~158790% 0.~~558659~~661626% 0.~~186220~~000000% 0.000000% 4.~~096834~~820416% 3.~~072584~~999149% 0.~~257099~~717620% 0.~~078995~~000000% 0.000000% 34.~~408678~~716769% 90 Days 1.~~582868~~890359% 10.~~024209~~661626% 0.~~651769~~850662% 0.000000% 3.~~258845~~402647% 01.~~834492~~514730% 0.~~807578~~504566% 0.~~625840~~636790% 0.000000% 2.~~267910~~656085% 120 Days 0.~~837989~~756144% 01.~~558659~~039698% 0.~~465549~~756144% 0.000000% 12.~~862197~~551985% 0.~~617717~~362783% 0.~~373469~~630479% 0.~~318394~~793932% 0.000000% 1.~~309580~~787194% 150 Days 0.~~744879~~661626% 10.~~024209~~945180% 0.~~372439~~283554% 0.000000% 21.~~141527~~890359% 0.~~509600~~323491% 0.~~572993~~585738% 0.~~317735~~172509% 0.000000% 1.~~400328~~081738% 180+ Days 1.~~582868~~134216% 2.~~886406~~835539% 12.~~955307~~835539% 0.~~000000~~189036% 6.~~424581~~994329% 10.~~509555~~584575% 2.~~188844~~027576% 12.~~662818~~920189% 0.~~000000~~220100% 5.~~361217~~752440% Totals 1715.~~411546~~595463% 10.~~055866~~207940% 34.~~631285~~820416% 0.~~000000~~189036% 3130.~~098696~~812854% 1412.~~082351~~617326% 8.~~263231~~117587% 34.~~003783~~585860% 0.~~000000~~220100% 25.~~349365~~540873%

Delinquency Status By Groups

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 2 0 0 2 ~~253~~251,~~811~~847.9046 0.00 0.00 ~~253~~251,~~811~~847.9046 30 Days 105 10 0 0 115 1,~~708~~082,~~662~~233.7823 ~~339,966~~0.9500 0.00 0.00 21,~~048~~082,~~629~~233.7323 60 Days 58 12 10 0 710 ~~379~~1,~~808~~162,996.98 40 380,~~376~~311.0013 ~~55,458~~0.5700 0.00 ~~475~~1,~~643~~543,307.5553 90 Days 35 10 42 0 87 ~~267~~611,~~315~~763.3300 ~~182,006~~0.0400 ~~352~~160,~~014~~615.3199 0.00 ~~801~~772,~~335~~378.6899 120 Days 2 1 12 3 0 46 ~~329~~48,~~175~~520.9420 ~~119~~300,~~040~~969.6024 80302,~~294~~937.4282 0.00 ~~528~~652,~~510~~427.9626 150 Days 21 1 1 0 43 ~~211~~106,~~285~~663.0589 91,~~166~~099.9568 ~~174~~80,~~629~~294.1342 0.00 ~~477~~278,~~081~~057.1399 180+ Days 1 0 67 01 79 47,448.24 0.00 ~~984~~1,~~269~~088,827.1463 0174,629.0013 1,~~031~~310,~~717~~905.3800 Totals 2321 7 13 01 4342 23,~~943~~059,~~696~~624.3296 1,~~026~~024,~~368~~227.4451 1,~~646~~632,~~665~~675.5786 0174,629.0013 5,~~616~~891,~~730~~157.3346 0-29 Days 0.980392% 0.000000% 0.000000% 0.980392% 0.~~845838~~840109% 0.000000% 0.000000% 0.~~845838~~840109% 30 Days 42.~~901961~~450980% 0.~~490196~~000000% 0.000000% 0.000000% 52.~~392157~~450980% 53.~~694183~~610098% 10.~~132953~~000000% 0.000000% 0.000000% 63.~~827135~~610098% 60 Days 23.~~450980~~921569% 0.~~490196~~980392% 0.~~490196~~000000% 0.000000% 34.~~431373~~901961% 13.~~265728~~879506% 01.~~134555~~268636% 0.~~184818~~000000% 0.000000% 15.~~585100~~148143% 90 Days 12.~~470588~~450980% 0.~~490196~~000000% 10.~~960784~~980392% 0.000000% 3.~~921569~~431373% 02.~~890838~~040710% 0.~~606542~~000000% 10.~~173101~~535780% 0.000000% 2.~~670481~~576490% 120 Days 0.~~980392~~490196% 0.~~490196~~980392% 01.~~490196~~470588% 0.000000% 12.~~960784~~941176% 10.~~096991~~161853% 01.~~396707~~003969% 01.~~267584~~010536% 0.000000% 12.~~761283~~176357% 150 Days 0.~~980392~~490196% 0.490196% 0.490196% 0.000000% 1.~~960784~~470588% 0.~~704115~~355808% 0.~~303817~~303889% 0.~~581958~~267845% 0.000000% 10.~~589891~~927542% 180+ Days 0.490196% 0.000000% 23.~~941176~~431373% 0.~~000000~~490196% 34.~~431373~~411765% 0.~~158123~~158277% 0.000000% 3.~~280114~~632095% 0.~~000000~~582525% 34.~~438237~~372898% Totals 1110.~~274510~~294118% 3.431373% 6.372549% 0.~~000000~~490196% 2120.~~078431~~588235% 910.~~809978~~206252% 3.~~420411~~416603% 5.~~487575~~446256% 0.~~000000~~582525% 1819.~~717964~~651636% 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 2730 0 0 2730 2,~~944~~686,~~884~~156.6053 0.00 0.00 2,~~944~~686,~~884~~156.6053 30 Days 9069 1311 01 0 ~~103~~81 65,~~348~~066,~~041~~318.1791 ~~803~~911,~~952~~415.9605 065,822.0039 0.00 76,~~151~~043,~~994~~556.1335 60 Days 3136 5 10 0 3741 23,~~904~~052,~~029~~787.5695 ~~234~~376,~~400~~182.1086 ~~28,967~~0.6500 0.00 3,~~167~~428,~~397~~970.3181 90 Days 1415 107 37 0 2729 ~~624~~985,~~552~~020.3244 ~~681~~531,~~096~~898.3805 ~~316~~510,~~855~~668.1679 0.00 12,~~622~~027,~~503~~587.8628 120 Days 7 9 5 4 0 1621 ~~331~~333,~~011~~914.5564 ~~280~~363,~~106~~662.0959 ~~259~~534,~~991~~002.1813 0.00 ~~871~~1,~~108~~231,579.8236 150 Days 6 109 32 0 1917 ~~333~~234,~~352~~351.1920 ~~521~~526,~~221~~367.7364 ~~164~~101,~~951~~559.7746 0.00 1862,~~019,525~~278.6930 180+ Days 1611 3130 1523 01 6265 1568,~~565,895~~793.9548 2,~~339~~137,~~337~~410.1525 ~~792~~1,~~875~~989,549.7606 057,394.0029 4,~~698~~753,~~108~~147.8608 Totals ~~164~~144 101 2638 01 ~~291~~284 1210,~~106~~241,~~882~~186.7462 7,~~804~~533,~~999~~092.0197 13,~~563~~201,~~641~~601.5283 057,394.0029 21,~~475~~033,~~523~~275.2771 0-29 Days 3.~~103448~~512881% 0.000000% 0.000000% 3.~~103448~~512881% 3.~~831078~~560696% 0.000000% 0.000000% 3.~~831078~~560696% 30 Days 108.~~344828~~079625% 1.~~494253~~288056% 0.~~000000~~117096% 0.000000% 119.~~839080~~484778% 86.~~258334~~715774% 1.~~045884~~208147% 0.~~000000~~087252% 0.000000% 98.~~304217~~011173% 60 Days 34.~~563218~~215457% 0.~~574713~~585480% 0.~~114943~~000000% 0.000000% 4.~~252874~~800937% 34.~~777928~~046692% 0.~~304937~~498658% 0.~~037685~~000000% 0.000000% 4.~~120550~~545350% 90 Days 1.~~609195~~756440% 10.~~149425~~819672% 0.~~344828~~819672% 0.000000% 3.~~103448~~395785% 01.~~812497~~305716% 0.~~886056~~705069% 0.~~412205~~676929% 0.000000% 2.~~110758~~687714% 120 Days 0.~~804598~~819672% 01.~~574713~~053864% 0.~~459770~~585480% 0.000000% 12.~~839080~~459016% 0.~~430622~~442628% 0.~~364397~~482061% 0.~~338229~~707859% 0.000000% 1.~~133248~~632548% 150 Days 0.~~689655~~702576% 1.~~149425~~053864% 0.~~344828~~234192% 0.000000% 21.~~183908~~990632% 0.~~433667~~310650% 0.~~678071~~697739% 0.~~214590~~134624% 0.000000% 1.~~326328~~143013% 180+ Days 1.~~839080~~288056% 3.~~563218~~512881% 12.~~724138~~693208% 0.~~000000~~117096% 7.~~126437~~611241% 20.~~037115~~753977% 32.~~043305~~833293% 12.~~031473~~637292% 0.~~000000~~076080% 6.~~111893~~300642% Totals 1816.~~850575~~861827% 11.~~609195~~826698% 24.~~988506~~449649% 0.~~000000~~117096% 33.~~448276~~255269% 1513.~~750162~~575437% 109.~~153728~~985662% 24.~~034182~~243956% 0.~~000000~~076080% 27.~~938073~~881135%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~208~~205,~~306~~873.5900

SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class M-1 21,368,679.00 14.33738478% 25,339,996.53 2324.~~78359709~~11388352% 14.~~340554~~539703% 0.000000% Class M-2 13,542,679.00 9.08650459% 17,513,996.53 16.~~43827521~~66655604% 7.~~345322~~447327% 0.000000% Class M-3 6,461,679.00 4.33548457% 10,432,996.53 9.~~79219494~~92818064% 6.~~646080~~738375% 0.000000% Class M-4 4,598,679.00 3.08549865% 8,569,996.53 8.~~04362164~~15532464% 1.~~748573~~772856% 0.000000% Class CE 100.00 0.00006710% 100.00 0.~~00009386~~00009516% 8.~~043528~~155229% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.~~000094~~000095% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

REO Detail - All Mortgage Loans in REO during Current Period

Summary 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 02 ~~Sep~~Oct-04 0.000% Original Principal Balance 0235,132.00 ~~Oct~~Nov-04 0.000% Current Principal Balance 0232,023.0042 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.000% Current REO Total ~~Jan~~Feb-05 0.000% Loans in REO 02 ~~Feb~~Mar-05 0.000% Original Principal Balance 0235,132.00 ~~Mar~~Apr-05 0.000% Current Principal Balance 0232,023.0042 ~~Apr-05 0.000%~~ May-05 0.000% Jun-05 0.048% Jul-05 0.051% Aug-05 0.000% Sep-05 0.220% *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 01 ~~Sep~~Oct-04 0.000% Original Principal Balance 0176,000.00 ~~Oct~~Nov-04 0.000% Current Principal Balance 0174,629.0013 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.000% Current REO Total ~~Jan~~Feb-05 0.000% Loans in REO 01 ~~Feb~~Mar-05 0.000% Original Principal Balance 0176,000.00 ~~Mar~~Apr-05 0.000% Current Principal Balance 0174,629.0013 ~~Apr~~May-05 0.000% ~~May~~Jun-05 0.000% ~~Jun~~Jul-05 0.000% ~~Jul~~Aug-05 0.000% ~~Aug~~Sep-05 0.~~000~~583% *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 01 ~~Sep~~Oct-04 0.000% Original Principal Balance 059,132.00 ~~Oct~~Nov-04 0.000% Current Principal Balance 057,394.0029 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.000% Current REO Total ~~Jan~~Feb-05 0.000% Loans in REO 01 ~~Feb~~Mar-05 0.000% Original Principal Balance 059,132.00 ~~Mar~~Apr-05 0.000% Current Principal Balance 057,394.0029 ~~Apr-05 0.000%~~ May-05 0.000% Jun-05 0.070% Jul-05 0.073% Aug-05 0.000% Sep-05 0.076% *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 NoGroup ~~REO~~1 ~~loans~~0051052036 ~~this~~Sep-2005 ~~period~~01-May-2004 GA 80.00 176,000.00 Group 2 8000005409 Sep-2005 16-Mar-1999 MI 84.47 59,132.00

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 NoGroup ~~REO~~1 ~~loans~~0051052036 ~~this~~174,629.13 ~~period~~01-Jan-2005 6 6.840% 7,356.71 Group 2 8000005409 57,394.29 16-Sep-2004 10 10.500% 4,295.39

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Summary 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 917 ~~Sep~~Oct-04 0.000% Original Principal Balance ~~575~~2,~~344~~209,830.00 ~~Oct~~Nov-04 0.000% Current Principal Balance ~~567~~2,~~417~~020,957.5872 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.~~000~~032% Current Foreclosure Total ~~Jan~~Feb-05 0.~~032~~924% Loans in Foreclosure 3951 ~~Feb~~Mar-05 03.~~924~~528% Original Principal Balance 35,~~318~~127,~~565~~668.00 ~~Mar~~Apr-05 3.~~528~~050% Current Principal Balance 34,~~210~~834,~~307~~277.0969 ~~Apr-05 3.050%~~ May-05 3.132% Jun-05 2.768% Jul-05 3.627% Aug-05 3.004% Sep-05 4.586% *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 42 ~~Sep~~Oct-04 0.000% Original Principal Balance ~~312~~211,~~810~~000.00 ~~Oct~~Nov-04 0.000% Current Principal Balance ~~310~~209,~~329~~715.3791 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.~~000~~077% Current Foreclosure Total ~~Jan~~Feb-05 01.~~077~~666% Loans in Foreclosure 13 ~~Feb~~Mar-05 15.~~666~~028% Original Principal Balance 1,~~658~~644,~~610~~110.00 ~~Mar~~Apr-05 56.~~028~~184% Current Principal Balance 1,~~646~~632,~~665~~675.5786 ~~Apr-05 6.184%~~ May-05 6.003% Jun-05 6.718% Jul-05 7.348% Aug-05 5.488% Sep-05 5.446% *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 515 ~~Sep~~Oct-04 0.000% Original Principal Balance ~~262~~1,~~534~~998,830.00 ~~Oct~~Nov-04 0.000% Current Principal Balance ~~257~~1,~~088~~811,241.2181 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.~~000~~010% Current Foreclosure Total ~~Jan~~Feb-05 0.~~010~~566% Loans in Foreclosure 2638 ~~Feb~~Mar-05 02.~~566~~813% Original Principal Balance 13,~~659~~483,~~955~~558.00 ~~Mar~~Apr-05 21.~~813~~565% Current Principal Balance 13,~~563~~201,~~641~~601.5283 ~~Apr-05 1.565%~~ May-05 1.791% Jun-05 1.010% Jul-05 2.061% Aug-05 2.034% Sep-05 4.244% *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 Group 1 0001219957 Feb-2005 01-Feb-2004 GA 100.00 285,000.00 Group 1 0041058678 Apr-2005 01-May-2004 IN 80.00 50,000.00 Group 1 ~~0051052036 Mar-2005 01-May-2004 GA 80.00 176,000.00 Group 1~~ 0121031238 Aug-2005 01-May-2004 IA 90.00 55,800.00 Group 1 0209039536 Mar-2005 01-Nov-2002 UT 80.00 102,400.00 Group 1 0261045257 Feb-2005 01-May-2004 MI 95.00 132,050.00 Group 1 0321017687 Aug-2005 01-May-2004 CO 83.51 81,000.00 Group 1 ~~0831018700~~1000160918 ~~Jul~~Mar-2005 01-May-2004 INNY 9080.00 49288,~~500~~000.00 Group 1 ~~1000160918~~5000089082 ~~Mar~~Sep-2005 01-May-2004 NYIA 8075.00 ~~288~~105,000.00 Group 1 6000092022 Aug-2005 01-May-2004 FL 90.00 71,010.00 Group 1 6000093194 Jul-2005 01-May-2004 FL 80.00 129,600.00 Group 1 6000094382 Apr-2005 01-May-2004 RI 69.04 133,250.00 Group 1 7000095397 Sep-2005 01-May-2004 DE 50.48 106,000.00 Group 1 7000098437 Aug-2005 01-May-2004 WA 51.22 105,000.00 Group 2 0000124283 Jul-2005 01-Aug-2002 NJ 77.16 14,267.00 Group 2 0000130699 Aug-2005 30-Nov-2000 NY 93.33 42,000.00 Group 2 0000222333 Mar-2005 04-Oct-2003 TX 91.21 21,891.00 Group 2 0000254247 Jun-2005 01-Apr-2004 IL 105.40 64,291.00 Group 2 0001275867 Sep-2005 01-Mar-2004 IN 80.00 68,000.00 Group 2 0004126322 Sep-2005 01-Aug-1990 NJ 66.67 100,000.00 Group 2 0006609697 Sep-2005 01-Jan-1994 FL 74.47 350,000.00 Group 2 0015978482 Sep-2005 01-Oct-1996 CT 51.37 75,000.00 Group 2 0030235089 Sep-2005 01-Jan-1995 PA 51.41 110,000.00 Group 2 0030821664 Jul-2005 01-Jun-1997 TN 75.00 247,500.00 Group 2 0031987340 Sep-2005 01-Apr-1999 IL 90.00 130,500.00 Group 2 0061051147 Feb-2005 01-Apr-2004 OH 90.00 76,500.00 Group 2 0080048481 Sep-2005 01-May-1999 MD 79.99 253,550.00 Group 2 0137021713 May-2005 01-May-2004 NY 84.51 29,663.00 Group 2 0300002079 Sep-2005 01-Apr-2003 TX 95.00 15,105.00 Group 2 1001001016 Sep-2005 01-Dec-1998 PA 66.37 59,733.00 Group 2 1001001769 Apr-2005 01-May-1999 OH 93.46 75,144.00 Group 2 2000000762 Sep-2005 25-Aug-2000 GA 29.26 19,900.00 Group 2 2101101125 Aug-2005 01-Oct-2003 MS 90.00 79,200.00 Group 2 ~~6000092910~~7000097554 ~~Jul~~Jun-2005 01-May-2004 NCCA 62100.9200 6042,~~400~~000.00 Group 2 ~~7000097554~~7000097937 ~~Jun~~Sep-2005 01-~~May~~Jun-2004 CANY ~~100~~83.0047 42500,000.00 Group 2 8000000297 Apr-2005 02-Apr-1996 OH 83.83 39,817.00 Group 2 ~~8000002254~~8000001846 ~~Jun~~Sep-2005 0301-~~Oct~~Aug-1999 OH ~~101~~95.2625 55135,~~695~~260.00 Group 2 8000002715 May-2005 13-Jun-1998 OH 77.42 57,288.00 Group 2 8000003220 Apr-2005 22-Dec-1997 OH 94.04 61,126.00 Group 2 ~~8000005409~~8000005749 ~~Aug~~Jul-2005 1602-~~Mar~~Dec-1999 MIOH 8485.4748 59115,~~132~~399.00 Group 2 ~~8000005749~~8000006250 ~~Jul~~Sep-2005 0205-~~Dec~~May-~~1999~~2000 OHNE 8590.4824 ~~115~~72,~~399~~193.00 Group 2 8000007454 Mar-2005 03-Jan-2000 KY 61.10 26,882.00 Group 2 8000007792 Jun-2005 14-Sep-1999 KY 88.41 60,386.00 Group 2 8000008504 Jul-2005 02-Feb-2000 PA 79.60 58,105.00 Group 2 8000034281 Sep-2005 30-Apr-1999 IN 95.76 58,414.00 Group 2 8000034353 Jun-2005 11-Sep-1999 IN 95.69 62,201.00 Group 2 8000034688 Jul-2005 05-Dec-1998 IN 8.66 64,945.00 Group 2 8000035064 Jul-2005 09-Jan-2000 IN 95.74 38,007.00 Group 2 8000035289 Sep-2005 02-Sep-1999 IN 85.29 51,175.00 Group 2 8000035323 Aug-2005 15-Jan-2000 IN 76.75 59,100.00 Group 2 8000038599 Aug-2005 13-Jul-2000 KY 66.01 23,102.00 Group 2 8000040744 Jul-2005 01-Aug-2000 IL 96.49 125,914.00

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 Group 1 0001219957 283,086.04 01-Sep-2004 910 7.250% 1214,~~692~~272.0223 Group 1 0041058678 49,661.53 01-Dec-2004 67 7.150% 2,~~195~~468.3365 Group 1 ~~0051052036 174,629.13 01-Jan-2005 5 6.840% 6,439.98 Group 1~~ 0121031238 55,458.57 01-Apr-2005 23 9.550% 12,~~671~~088.6498 Group 1 0209039536 100,522.11 01-Aug-2004 1011 7.500% 45,~~676~~259.9311 Group 1 0261045257 131,695.08 01-Sep-2004 910 9.150% 78,~~566~~509.5385 Group 1 0321017687 80,294.42 01-Feb-2005 45 7.250% 23,~~704~~153.1954 Group 1 ~~0831018700~~1000160918 49286,~~076~~549.4930 01-~~Mar~~Sep-~~2005~~2004 310 75.~~420~~990% 111,~~412~~738.7245 Group 1 ~~1000160918~~5000089082 ~~286~~104,~~549~~558.3049 01-~~Sep~~Jan-~~2004~~2005 96 59.~~990~~900% 106,~~439~~544.8817 Group 1 6000092022 70,553.18 01-Mar-2005 34 8.850% 2,~~454~~944.6264 Group 1 6000093194 128,361.44 01-Mar-2005 34 6.850% 34,~~393~~069.1186 Group 1 6000094382 132,755.08 01-Nov-2004 78 9.250% 78,~~733~~697.7493 Group 1 7000095397 105,157.42 01-Apr-2005 3 8.250% 3,390.93 Group 1 7000098437 104,023.20 01-Mar-2005 34 6.990% 23,~~812~~373.9199 Group 2 0000124283 11,~~576~~485.5634 01-~~Mar~~Apr-2005 3 10.500% ~~470~~466.4857 Group 2 0000130699 41,~~197~~156.2595 28-~~Feb~~Apr-2005 43 12.000% 21,~~343~~951.5520 Group 2 0000222333 20,739.18 04-Sep-2004 910 11.250% 1,~~443~~619.8184 Group 2 0000254247 63,812.12 01-Dec-2004 67 7.500% 3,324.87 Group 2 0001275867 65,~~957~~807.14 01-Feb-2005 5 9.450% 3,405.55 Group 2 0004126322 82,281.62 01-Apr-2005 3 10.125% 3,292.17 Group 2 0006609697 258,085.85 01-Dec-2004 7 7.000% 12,504.35 Group 2 0015978482 65,822.39 01-Jun-2005 1 6.875% 1,058.54 Group 2 0030235089 97,053.13 01-Apr-2005 3 8.625% 3,274.88 Group 2 0030821664 226,791.88 01-Mar-2005 34 8.375% 78,~~421~~900.9029 Group 2 0031987340 119,477.21 01-Jan-2005 6 8.625% 6,423.76 Group 2 0061051147 76,132.91 01-Sep-2004 910 7.200% 3,~~382~~803.1325 Group 2 0080048481 234,847.97 01-Apr-2005 3 7.125% 6,465.36 Group 2 0137021713 28,967.65 01-Apr-2005 23 7.125% ~~634~~791.0470 Group 2 0300002079 14,876.13 01-Apr-2005 3 9.000% 522.27 Group 2 1001001016 59,733.79 01-Oct-2002 33 11.000% 4,697.90 Group 2 1001001769 69,715.09 01-Nov-2004 78 11.250% 45,~~970~~586.4730 Group 2 2000000762 15,172.27 25-Nov-2004 8 14.750% 1,581.82 Group 2 2101101125 78,486.72 01-Mar-2005 34 9.750% 3,~~023~~626.3399 Group 2 ~~6000092910~~7000097554 6041,~~068~~571.0796 01-Dec-2004 67 810.~~000~~490% 3,~~000~~103.3900 Group 2 ~~7000097554~~7000097937 41499,~~571~~209.9674 01-~~Dec~~Jul-2004 612 107.~~490~~200% 224,~~760~~911.2452 Group 2 8000000297 36,184.00 10-Nov-2004 78 10.500% 2,~~408~~709.8911 Group 2 ~~8000002254~~8000001846 55132,~~687~~605.6240 1501-~~Jan~~Mar-~~2005~~2004 516 1011.~~750~~350% 310,~~325~~702.8474 Group 2 8000002715 50,630.69 13-Dec-2004 67 10.250% 3,~~284~~690.5543 Group 2 8000003220 43,507.04 22-Oct-2004 89 8.750% 2,~~362~~648.5880 Group 2 ~~8000005409~~8000005749 57112,~~394~~544.2947 1602-~~Sep~~Nov-2004 98 109.~~500~~990% 37,~~819~~993.4231 Group 2 ~~8000005749~~8000006250 ~~112~~71,~~544~~181.4728 0205-~~Nov~~Jan-~~2004~~2005 76 912.~~990~~250% 75,~~107~~568.5717 Group 2 8000007454 24,895.30 15-Sep-2004 910 13.000% 2,~~058~~312.8381 Group 2 8000007792 55,670.69 14-Aug-2004 1011 7.375% 2,~~507~~815.9559 Group 2 8000008504 58,105.75 15-~~Feb~~Mar-2005 4 11.490% 3,~~188~~187.9580 Group 2 8000034281 45,681.92 28-Mar-2005 4 10.000% 2,173.77 Group 2 8000034353 60,672.88 11-Jan-2005 56 11.000% 34,~~708~~237.9640 Group 2 8000034688 48,591.27 05-Jan-2005 56 8.500% 2,~~242~~555.8216 Group 2 8000035064 35,752.32 09-Feb-2005 45 12.000% 2,~~053~~394.4308 Group 2 8000035289 49,405.97 02-Dec-2004 7 13.000% 4,612.44 Group 2 8000035323 59,100.00 15-Feb-2004 1617 13.000% 45,~~921~~535.5297 Group 2 8000038599 20,909.95 13-Nov-2004 78 14.250% 12,~~974~~246.5723 Group 2 8000040744 124,935.86 01-~~Feb~~Mar-2005 4 10.000% 5,~~922~~919.7638

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.~~551734~~168946% Weighted Average Net Coupon 87.~~051736~~668946% Weighted Average Pass-Through Rate 7.~~979236~~596446% Weighted Average Maturity(Stepdown Calculation) ~~274~~273 Beginning Scheduled Collateral Loan Count 1,~~109~~074 Number Of Loans Paid In Full 3516 Ending Scheduled Collateral Loan Count 1,~~074~~058 Beginning Scheduled Collateral Balance ~~111~~106,~~370~~544,~~495~~003.4357 Ending Scheduled Collateral Balance ~~106~~105,~~544~~084,~~003~~676.5769 Ending Actual Collateral Balance at 2931-~~Jul~~Aug-2005 ~~106~~105,~~875~~417,~~471~~044.7904 Monthly P&I Constant ~~989~~954,~~963~~919.8387 Special Servicing Fee 0.00 Prepayment Penalties 232,~~474~~616.7280 Realized Loss Amount 0(541.0042) Cumulative Realized Loss 37,~~554~~012.4098 Scheduled Principal ~~235~~229,~~044~~626.8534 Unscheduled Principal 41,~~591~~229,~~447~~700.0154 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0541.0042 Specified O/C Amount 8,569,896.53 Overcollateralized Amount 8,569,896.53 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 8.~~551734~~168946% Weighted Average Net Rate 87.~~051736~~668946% Weighted Average Pass Through Rate 7.~~979236~~596446% Weighted Average Maturity ~~274~~273 Record Date 0708/2931/2005 Principal and Interest Constant ~~989~~954,~~963~~919.8387 Beginning Loan Count 1,~~109~~074 Loans Paid in Full 3516 Ending Loan Count 1,~~074~~058 Beginning Scheduled Balance ~~111~~106,~~370~~544,~~495~~003.4357 Ending Scheduled Balance ~~106~~105,~~544~~084,~~003~~676.5769 Ending Actual Balance at 2931-~~Jul~~Aug-2005 ~~106~~105,~~875~~417,~~471~~044.7904 Scheduled Principal ~~235~~229,~~044~~626.8534 Unscheduled Principal 41,~~591~~229,~~447~~700.0154 Scheduled Interest ~~754~~725,~~918~~293.9853 Servicing Fee 4644,~~404~~393.3733 Master Servicing Fee 4,~~872~~661.4630 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 1,~~856~~775.1773 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest ~~701~~674,~~785~~463.9817 Realized Loss Amount 0(541.0042) Cumulative Realized Loss 37,~~554~~012.4098 Percentage of Cumulative Losses 0.~~0252~~0248 Special Servicing Fee 0.00 Prepayment Penalties 232,~~474~~616.7280 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0541.0042 Specified O/C Amount 8,569,896.53 Overcollateralized Amount 8,569,896.53 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00

Miscellaneous Reporting Interest Arrearage Amount ~~36144~~7812.8104

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~384972~~454480 8.~~450418~~448827 8.~~551734~~168946 Weighted Average Net Rate 6.~~884972~~954480 7.~~950419~~948827 87.~~051736~~668946 Weighted Average Maturity ~~335~~334 ~~243~~242 ~~274~~273 Beginning Loan Count ~~216~~204 ~~893~~870 1,~~109~~074 Loans Paid In Full 120 2316 3516 Ending Loan Count 204 ~~870~~854 1,~~074~~058 Beginning Scheduled Balance 3329,~~060~~989,~~788~~181.5431 7876,~~309~~554,~~706~~822.8926 ~~111~~106,~~370~~544,~~495~~003.4357 Ending Scheduled Balance 29,~~989~~958,~~181~~680.3192 7675,~~554~~125,~~822~~995.2677 ~~106~~105,~~544~~084,~~003~~676.5769 Record Date 0708/2931/2005 0708/2931/2005 0708/2931/2005 Principal And Interest Constant ~~229~~210,~~445~~340.4577 ~~760~~744,~~518~~579.3810 ~~989~~954,~~963~~919.8387 Scheduled Principal 2524,~~984~~045.6397 ~~209~~205,~~060~~580.2237 ~~235~~229,~~044~~626.8534 Unscheduled Principal 36,~~045,622~~454.6042 1,~~545~~223,~~824~~246.4112 41,~~591~~229,~~447~~700.0154 Scheduled Interest ~~203~~186,~~460~~294.8280 ~~551~~538,~~458~~998.1673 ~~754~~725,~~918~~293.9853 Servicing Fees 1312,~~775~~495.3349 3231,~~629~~897.0484 4644,~~404~~393.3733 Master Servicing Fees 1,~~446~~312.4103 3,~~426~~349.0527 4,~~872~~661.4630 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 ~~551~~499.0182 1,~~305~~275.1691 1,~~856~~775.1773 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 ~~187~~171,~~688~~987.0746 ~~514~~502,~~097~~475.9171 ~~701~~674,~~785~~463.9817 Realized Loss Amount 0.00 0(541.0042) 0(541.0042) Cumulative Realized Loss 3,116.95 3433,~~437~~896.4503 37,~~554~~012.4098 Percentage of Cumulative Losses 0.0063 0.~~0346~~0340 0.~~0252~~0248 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~812472~~881980 7.~~877918~~876327 7.~~979236~~596446

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 1 120 ~~3,107,885~~0.00 ~~3,044,861~~0.5700 0 0.00 0.00 Group 2 2315 1,~~904~~514,~~270~~215.00 1,~~514~~205,~~695~~783.4435 0 0.00 0.00 Total 3515 51,~~012~~514,~~155~~215.00 41,~~559~~205,~~557~~783.0135 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 26,~~801~~454.1842 Group 2 0 0.00 0.00 0 0.00 0.00 3621,~~237~~308.2927 Total 0 0.00 0.00 0 0.00 0.00 3927,~~038~~762.4769

Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Group 12 ~~0001119228~~0000184060 CACO 90113.0096 ~~01-Feb-2004 251,910.00 248,740.~~22 ~~Group 1 0001286834 CA 80.00 01~~-~~Mar~~Sep-~~2004~~2001 ~~460~~50,000.00 ~~459~~47,~~552~~284.3620 Group 12 ~~0001335588~~0000274355 MIWA 85.00 01-Apr-2004 108,800.00 107,553.38 Group 1 0001343197 CA 85.00 01-Apr-2004 595,425.00 593,233.10 Group 1 0031025801 CA 55.00 01-Apr-2004 82,500.00 81,467.48 Group 1 0051051925 GA 75.00 01-May-2004 166,500.00 164,487.05 Group 1 0070048749 CT 90.00 01-May-1998 360,000.00 319,787.08 Group 1 0381012283 ME 66.13 01-May-2004 102,500.00 100~~,590~~.~~71 Group 1 0611008980 NY 80.~~00 01-~~Jun~~Oct-~~2004~~2003 ~~476~~36,000.00 ~~468~~35,~~569~~114.~~29 Group 1 0831017426 CA 80.00 01-May-2004 144,000.00 142,317.88 Group 1 0831020949 IN 75.00 01-Jun-2004 44,250.00 43,783.26 Group 1 6000087932 NY 80.00 01-May-2004 316,000.00 312,739.~~61 Group 2 ~~0000276386~~0001315224 NVNJ 9440.6627 01-~~Jan-2004 24,150.00 23,734.58 Group 2 0001385672 MI 100.00 01-~~Apr-2004 2360,~~700~~000.00 2359,~~096~~486.70 Group 2 ~~0001385922~~0004219424 CAPA ~~100~~75.00 01-~~Apr~~Nov-~~2004~~1990 59,~~600~~250.00 ~~59,012~~584.0090 Group 2 ~~0001389994~~0006751879 FLMO ~~100~~59.0009 01-~~Apr~~Mar-~~2004~~1994 27234,000.00 26189,~~316~~250.1122 Group 2 ~~0005009147~~0022086839 OHMD 7085.00 3010-~~Apr~~Jul-~~1992~~1998 7782,~~000~~875.00 1877,~~987~~905.8457 Group 2 ~~0005955901~~0061051706 GAPA 3867.4650 01-~~Oct~~Jun-~~1993~~2004 ~~100~~135,000.00 27133,~~883~~185.2431 Group 2 ~~0006136360~~0061051906 NYOH 6578.5441 01-~~Feb~~May-~~1994~~2004 ~~213~~69,000.00 ~~176~~68,~~557~~152.9785 Group 2 ~~0006180764~~0311019481 CANY 7672.8726 01-~~Jan~~May-~~1994~~2004 ~~422~~112,000.00 ~~347~~110,~~142~~838.6036 Group 2 ~~0020678884~~0311020529 NYME 78.5160 ~~19-Oct-1994 95,000.00 81,656.~~01 ~~Group 2 0021239850 RI 68.89 13~~-~~Mar~~May-~~1996~~2004 62224,000.00 52220,~~491~~728.6958 Group 2 ~~0021297361~~0708213921 NC ~~80.00 08-May-1996 65,680.00 34,019.02 Group 2 0080141476 MD 80.00 01-Sep-1999 262,856.00 245,185.~~90 ~~Group 2 0080537327 NJ 50~~.00 01-~~Jun~~May-~~2000~~1994 25278,~~000.00 15,382.86 Group 2 8000001663 OH 78.39 02-Jul-1997 55,263.00 55,046.31 Group 2 8000002767 OH~~ 100.00 ~~04-Jan-1999 23~~91,~~862~~584.0074 ~~18,053.91~~ Group 2 ~~8000004186~~1000161212 OHVA ~~100~~95.00 1501-~~Apr~~May-~~1998~~2004 3617,~~913~~375.00 2616,~~994~~734.7151 Group 2 ~~8000004653~~2000001457 OH ~~105~~90.48 0229-Sep-~~1998~~2000 7357,~~837~~000.00 7255,~~010~~948.2544 Group 2 ~~8000005565~~5000094840 OHIL 8995.~~97 15-May-1998 111,561.~~00 ~~109,045.07 Group 2 8000006890 KY 100.00 09~~01-~~Apr~~Jun-~~1998~~2004 ~~10,270.00 3,835.09 Group 2 8000006992 KY 100.00 19-Feb-1999~~ 12,~~282~~500.00 211,~~591~~533.2855 Group 2 ~~8000007184~~8000074720 KYFL ~~100~~91.0070 0512-~~Oct~~Jan-~~1999~~2001 5087,~~036~~115.00 4083,~~634~~605.~~36 Group 2 8000008568 PA 100.00 04-Oct-1998~~ 31~~,353.00 13,687.00 Group 2 8000008717 PA 100.00 18-Dec-1998 41,907.00 36,222.62~~

Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning Group 12 ~~0001119228~~0000184060 Loan Paid in Full 0 810.~~375~~780% ~~360 18 Group 1 0001286834 Loan Paid in Full 0 6.500%~~ 300 1747 Group 1 0001335588 Loan Paid in Full 0 8.250% 360 16 Group 1 0001343197 Loan Paid in Full (1) 6.375% 300 16 Group 1 0031025801 Loan Paid in Full 0 7.800% 360 16 Group 1 0051051925 Loan Paid in Full 0 7.650% 360 15 Group 1 0070048749 Loan Paid in Full 0 5.750% 360 87 Group 1 0381012283 Loan Paid in Full (1) 5.350% 360 15 Group 1 0611008980 Loan Paid in Full 0 5.950% 360 14 Group 1 0831017426 Loan Paid in Full (1) 8.000% 360 15 Group 1 0831020949 Loan Paid in Full 0 8.000% 360 14 Group 1 6000087932 Loan Paid in Full 3 7.750% 360 15 Group 2 ~~0000276386~~0000274355 Loan Paid in Full 0 12.~~000% 360 19 Group 2 0001385672 Loan Paid in Full 0 9.~~500% ~~240~~180 1623 Group 2 ~~0001385922~~0001315224 Loan Paid in Full 0 910.000% 360 1617 Group 2 ~~0001389994~~0004219424 Loan Paid in Full ~~(1)~~0 9.~~700~~750% ~~240 16 Group 2 0005009147 Loan Paid in Full 8 10.250%~~ 180 ~~159~~178 Group 2 ~~0005955901~~0006751879 Loan Paid in Full 0 ~~6.750% 180 142 Group 2 0006136360 Loan Paid in Full 6~~ 7.~~875~~250% 360 138 Group 2 ~~0006180764~~0022086839 Loan Paid in Full 0 710.~~000~~450% ~~360~~180 ~~139~~86 Group 2 ~~0020678884~~0061051706 Loan Paid in Full (1) 8.~~500~~740% ~~180~~360 ~~129~~15 Group 2 ~~0021239850~~0061051906 Loan Paid in Full 0 7.~~950~~900% ~~180~~360 ~~113~~16 Group 2 ~~0021297361~~0311019481 Loan Paid in Full 0(1) 8.~~450~~750% ~~180 111 Group 2 0080141476 Loan Paid in Full 0 7.500%~~ 360 7116 Group 2 ~~0080537327~~0311020529 Loan Paid in Full (1) 107.~~130% 120 62 Group 2 8000001663 Loan Paid in Full 0 10.~~000% ~~403~~360 9716 Group 2 ~~8000002767~~0708213921 Loan Paid in Full 0 116.~~000~~500% 180 79136 Group 2 ~~8000004186~~1000161212 Loan Paid in Full 0 1211.~~990~~999% 180 8816 Group 2 ~~8000004653~~2000001457 Loan Paid in Full 06 ~~10.000% 362 83 Group 2 8000005565 Loan Paid in Full 4 10.750% 363 87 Group 2 8000006890 Loan Paid in Full 0~~ 12.250% ~~120~~360 8859 Group 2 ~~8000006992~~5000094840 Loan Paid in Full 0 1011.~~000~~500% 97120 7715 Group 2 ~~8000007184~~8000074720 Loan Paid in Full 0 ~~12.740% 180 70 Group 2 8000008568 Loan Paid in Full 0~~ 10.~~250% 120 82 Group 2 8000008717 Loan Paid in Full 1 9.~~990% 240 7956

Prepayment - Voluntary Prepayments

Summary SMM CPR PSA Current Month 41.~~131~~157% Current Month 3913.~~728~~030% Current Month ~~662~~217.~~131~~169% 3 Month Average 43.~~594~~635% 3 Month Average 4234.~~912~~260% 3 Month Average ~~715~~571.~~204~~001% 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. ~~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 45.965% N/A Jan-2005 766.080% N/A Feb-2005 27.282% N/A Feb-2005 454.696% N/A Mar-2005 30.825% N/A Mar-2005 513.750% N/A Apr-2005 41.963% N/A Apr-2005 699.384% N/A May-2005 26.049% N/A May-2005 434.142% N/A Jun-2005 38.987% N/A Jun-2005 649.779% N/A Jul-2005 50.022% N/A Jul-2005 833.702% N/A Aug-2005 39.728% N/A Aug-2005 662.131% N/A Sep-2005 13.030% N/A Sep-2005 217.169% 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 90.~~219~~022% Current Month 680.~~673~~258% Current Month ~~1,885~~6.~~649~~723% 3 Month Average 86.~~614~~190% 3 Month Average 6546.~~831~~020% 3 Month Average 1,~~876~~282.~~072~~683% 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. ~~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 51.856% N/A Jan-2005 2,252.969% N/A Feb-2005 35.419% N/A Feb-2005 1,404.836% N/A Mar-2005 37.198% N/A Mar-2005 1,359.864% N/A Apr-2005 45.912% N/A Apr-2005 1,551.220% N/A May-2005 34.790% N/A May-2005 1,121.505% N/A Jun-2005 59.691% N/A Jun-2005 1,786.889% N/A Jul-2005 69.129% N/A Jul-2005 1,955.677% N/A Aug-2005 68.673% N/A Aug-2005 1,885.649% N/A Sep-2005 0.258% N/A Sep-2005 6.723% 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 1.~~979~~602% Current Month 2117.~~329~~619% Current Month ~~355~~293.~~482~~653% 3 Month Average 2.~~813~~512% 3 Month Average 2825.~~650~~777% 3 Month Average ~~477~~429.~~507~~624% 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. ~~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 42.800% N/A Jan-2005 713.330% N/A Feb-2005 22.957% N/A Feb-2005 382.620% N/A Mar-2005 27.532% N/A Mar-2005 458.862% N/A Apr-2005 39.979% N/A Apr-2005 666.309% N/A May-2005 21.523% N/A May-2005 358.711% N/A Jun-2005 26.238% N/A Jun-2005 437.304% N/A Jul-2005 38.384% N/A Jul-2005 639.736% N/A Aug-2005 21.329% N/A Aug-2005 355.482% N/A Sep-2005 17.619% N/A Sep-2005 293.653% 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 Detail Report - Loans with Losses during Current Period Summary # Loans Prior Realized Current with Principal Loss/(Gain) Loss Group Losses Balance Amount Percentage Group 1 0 0.00 0.00 0.000% Group 2 02 0.00 0(541.0042) (0.~~000~~001)% Total 02 0.00 0(541.0042) (0.~~000~~001)%

Realized Loss Loan Detail Report - Loans With Losses during Current Period Original Current Loan Principal Note LTV at Original Group Number Balance Rate State Origination Term NoGroup ~~losses~~2 ~~this~~0030411292 ~~period~~221,000.00 8.2500% AZ 94.97 360 Group 2 2000000948 14,894.00 14.0000% OH 100.00 120

Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued) Prior Cumulative Loan Principal Realized Realized Group Number Balance Loss/(Gain) Loss/(Gain) NoGroup ~~losses~~2 ~~this~~0030411292 ~~period~~0.00 (33.52) (33.52) Group 2 2000000948 0.00 (507.90) 10,666.94

Realized Loss Report - Collateral Summary

MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.~~052~~045% 3 Month Average 10.~~031~~900% 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. ~~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 0.000% N/A Jan-2005 0.000% N/A Feb-2005 0.000% N/A Feb-2005 0.000% 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 0.069% N/A May-2005 1.374% N/A Jun-2005 0.020% N/A Jun-2005 0.393% N/A Jul-2005 0.136% N/A Jul-2005 2.700% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A Sep-2005 0.000% N/A Sep-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.~~619~~540% 3 Month Average 352.~~234~~206% 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. ~~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 0.000% N/A Jan-2005 0.000% N/A Feb-2005 0.000% N/A Feb-2005 0.000% 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 0.825% N/A May-2005 3.539% N/A Jun-2005 0.236% N/A Jun-2005 99.084% N/A Jul-2005 1.620% N/A Jul-2005 6.619% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A Sep-2005 0.000% N/A Sep-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. ~~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 0.000% N/A Jan-2005 0.000% N/A Feb-2005 0.000% N/A Feb-2005 0.000% 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 0.214% N/A May-2005 8.188% 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 Sep-2005 0.000% N/A Sep-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. ~~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 0.000% N/A Jan-2005 0.000% N/A Feb-2005 0.000% N/A Feb-2005 0.000% 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 2.540% N/A May-2005 3.539% 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 Sep-2005 0.000% N/A Sep-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.~~075~~066% 3 Month Average 21.~~012~~762% 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. ~~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 0.000% N/A Jan-2005 0.000% N/A Feb-2005 0.000% N/A Feb-2005 0.000% 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 0.029% N/A Jun-2005 0.749% N/A Jul-2005 0.197% N/A Jul-2005 5.287% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A Sep-2005 0.000% N/A Sep-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.~~894~~778% 3 Month Average 352.~~234~~206% 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. ~~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 0.000% N/A Jan-2005 0.000% N/A Feb-2005 0.000% N/A Feb-2005 0.000% 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 0.346% N/A Jun-2005 99.084% N/A Jul-2005 2.335% N/A Jul-2005 6.619% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A Sep-2005 0.000% N/A Sep-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 · ACE Securities Corp Series 2005 SD1