8-K 1 bst05002_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 BEAR STEARNS ARM TRUST Mortgage-Backed Notes, Series 2005-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-120916-05 Pooling and Servicing Agreement) (Commission 54-6654301 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On September 26, 2005 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage-Backed Notes, Series 2005-2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-2 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. BEAR STEARNS ARM TRUST Mortgage-Backed Notes, Series 2005-2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 10/4/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-2 Trust, relating to the September 26, 2005 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage-Backed Notes Record Date: 78/2931/2005 Distribution Date: 89/2526/2005 Bear Stearns ARM Trust Mortgage-Backed Notes Series 2005-2 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 07384M7C0 SEN 4.12500% 1,~~525~~493,~~008~~966,~~495~~112.0761 5,~~242~~135,~~216~~508.7051 A-2 07384M7D8 SEN 4.12500% ~~798~~778,~~356~~059,~~439~~479.8451 2,~~744~~674,~~350~~579.2646 A-3 07384M7M8 SEN 4.12500% 2322,~~035~~567,~~956~~046.4999 7977,~~186~~574.1022 A-4 07384M7N6 SEN 4.12500% 1211,~~058~~752,~~745~~171.9423 4140,~~451~~398.9409 X-1 07384M7H9 SEN 0.~~05867~~05843% 0.00 ~~115~~112,301.8745 B-1 07384M7E6 SUB 4.~~18367~~18343% 28,~~831~~803,~~223~~769.9171 100,~~517~~415.0056 B-2 07384M7F3 SUB 4.~~18367~~18343% 18,~~347~~329,~~070~~599.1032 63,~~965~~900.1156 B-3 07384M7G1 SUB 4.~~18367~~18343% 6,~~552~~546,~~645~~406.9022 22,~~845~~822.1005 B-4 07384M7J5 SUB 4.~~18367~~18343% 3,~~931~~927,~~507~~764.9118 13,~~706~~692.7995 B-5 07384M7K2 SUB 4.~~18367~~18343% 2,~~621~~618,~~038~~542.4560 9,~~137~~128.9775 B-6 07384M7L0 SUB 4.~~18367~~18343% 6,~~552~~546,~~698~~458.4875 22,~~845~~822.2923 Totals 2,~~425~~373,~~295~~117,~~822~~351.0912 8,~~455~~273,~~524~~143.1383

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 3132,~~042~~095,~~382~~072.4671 0.00 1,~~493~~461,~~966~~871,~~112~~039.6190 3637,~~284~~230,~~599~~581.1622 0.00 A-2 2017,~~296~~264,~~960~~947.3395 0.00 ~~778~~760,~~059~~794,~~479~~531.5155 2319,~~041~~939,~~310~~527.5941 0.00 A-3 ~~468~~484,~~909~~810.5087 0.00 22,~~567~~082,~~046~~236.9912 ~~548~~562,~~095~~385.6009 0.00 A-4 ~~306~~260,~~574~~777.7078 0.00 11,~~752~~491,~~171~~393.2345 ~~348~~301,~~026~~175.6487 0.00 X-1 0.00 0.00 0.00 ~~115~~112,301.8745 0.00 B-1 27,~~454~~577.2043 0.00 28,~~803~~776,~~769~~192.7128 127,~~971~~992.2099 0.00 B-2 17,~~470~~549.7820 0.00 18,~~329~~312,~~599~~050.3211 81,~~435~~449.8976 0.00 B-3 6,~~239~~267.6869 0.00 6,~~546~~540,~~406~~138.2253 29,~~084~~089.7874 0.00 B-4 3,~~743~~760.7354 0.00 3,~~927~~924,~~764~~003.1864 17,~~450~~453.5249 0.00 B-5 2,~~495~~507.8506 0.00 2,~~618~~616,~~542~~035.6054 11,~~633~~635.8281 0.00 B-6 6,~~239~~267.7374 0.00 6,~~546~~540,~~458~~191.7501 29,~~085~~089.0297 0.00 Totals 5250,~~178~~169,~~470~~538.9697 0.00 2,~~373~~322,~~117~~947,~~351~~812.1213 6058,~~633~~442,~~995~~682.0980 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 1,661,650,700.00 1,~~525~~493,~~008~~966,~~495~~112.0761 ~~988~~972,~~411~~034.9940 3031,~~053~~123,~~970~~038.4731 0.00 0.00 A-2 866,300,200.00 ~~798~~778,~~356~~059,~~439~~479.8451 1,~~227~~205,~~934~~180.6422 1916,~~069~~059,~~025~~767.6973 0.00 0.00 A-3 25,100,000.00 2322,~~035~~567,~~956~~046.4999 14,~~930~~683.4203 ~~453~~470,~~979~~127.0884 0.00 0.00 A-4 13,085,000.00 1211,~~058~~752,~~745~~171.9423 18,~~547~~203.2960 ~~288~~242,~~027~~574.4118 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 B-1 28,966,100.00 28,~~831~~803,~~223~~769.9171 27,~~454~~577.2043 0.00 0.00 0.00 B-2 18,432,900.00 18,~~347~~329,~~070~~599.1032 17,~~470~~549.7820 0.00 0.00 0.00 B-3 6,583,300.00 6,~~552~~546,~~645~~406.9022 6,~~239~~267.6869 0.00 0.00 0.00 B-4 3,949,900.00 3,~~931~~927,~~507~~764.9118 3,~~743~~760.7354 0.00 0.00 0.00 B-5 2,633,300.00 2,~~621~~618,~~038~~542.4560 2,~~495~~507.8506 0.00 0.00 0.00 B-6 6,583,352.83 6,~~552~~546,~~698~~458.4875 6,~~239~~267.7374 0.00 0.00 0.00 Totals 2,633,284,752.83 2,~~425~~373,~~295~~117,~~822~~351.0912 2,~~313~~274,~~468~~030.3191 4947,~~865~~895,~~002~~508.6506 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 3132,~~042~~095,~~382~~072.4671 1,~~493~~461,~~966~~871,~~112~~039.6190 0.~~89908554~~87977036 3132,~~042~~095,~~382~~072.4671 A-2 2017,~~296~~264,~~960~~947.3395 ~~778~~760,~~059~~794,~~479~~531.5155 0.~~89814071~~87821119 2017,~~296~~264,~~960~~947.3395 A-3 ~~468~~484,~~909~~810.5087 22,~~567~~082,~~046~~236.9912 0.~~89908554~~87977036 ~~468~~484,~~909~~810.5087 A-4 ~~306~~260,~~574~~777.7078 11,~~752~~491,~~171~~393.2345 0.~~89814071~~87821119 ~~306~~260,~~574~~777.7078 X-1 0.00 0.00 0.00000000 0.00 B-1 27,~~454~~577.2043 28,~~803~~776,~~769~~192.7128 0.~~99439585~~99344379 27,~~454~~577.2043 B-2 17,~~470~~549.7820 18,~~329~~312,~~599~~050.3211 0.~~99439585~~99344379 17,~~470~~549.7820 B-3 6,~~239~~267.6869 6,~~546~~540,~~406~~138.2253 0.~~99439585~~99344379 6,~~239~~267.6869 B-4 3,~~743~~760.7354 3,~~927~~924,~~764~~003.1864 0.~~99439585~~99344379 3,~~743~~760.7354 B-5 2,~~495~~507.8506 2,~~618~~616,~~542~~035.6054 0.~~99439585~~99344379 2,~~495~~507.8506 B-6 6,~~239~~267.7374 6,~~546~~540,~~458~~191.7501 0.~~99439585~~99344379 6,~~239~~267.7374 Totals 5250,~~178~~169,~~470~~538.9697 2,~~373~~322,~~117~~947,~~351~~812.1213 0.~~90120043~~88214835 5250,~~178~~169,~~470~~538.9697

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 1,661,650,700.00 ~~917~~899.~~76719082~~08553742 0.~~59483740~~58498119 18.~~08681600~~73019300 0.00000000 A-2 866,300,200.00 ~~921~~898.~~57018992~~14071324 1.~~41744702~~39118082 2218.~~01202965~~53834009 0.00000000 A-3 25,100,000.00 ~~917~~899.~~76719084~~08553745 0.~~59483745~~58498127 18.~~08681594~~73019283 0.00000000 A-4 13,085,000.00 ~~921~~898.~~57019029~~14071303 1.~~41744669~~39118074 2218.~~01202981~~53834008 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 28,966,100.00 ~~995~~994.~~34365724~~39585274 0.~~94780450~~95205879 0.00000000 0.00000000 B-2 18,432,900.00 ~~995~~994.~~34365726~~39585307 0.~~94780420~~95205855 0.00000000 0.00000000 B-3 6,583,300.00 ~~995~~994.~~34365744~~39585314 0.~~94780429~~95205900 0.00000000 0.00000000 B-4 3,949,900.00 ~~995~~994.~~34365680~~39585306 0.~~94780374~~95205955 0.00000000 0.00000000 B-5 2,633,300.00 ~~995~~994.~~34365625~~39585311 0.~~94780314~~95206015 0.00000000 0.00000000 B-6 6,583,352.83 ~~995~~994.~~34365683~~39585255 0.~~94780428~~95205895 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 1819.~~68165341~~31517419 ~~899~~879.~~08553742~~77036323 0.~~89908554~~87977036 1819.~~68165341~~31517419 A-2 0.00000000 2319.~~42947668~~92952091 ~~898~~878.~~14071324~~21119232 0.~~89814071~~87821119 2319.~~42947668~~92952091 A-3 0.00000000 1819.~~68165339~~31517410 ~~899~~879.~~08553745~~77036335 0.~~89908554~~87977036 1819.~~68165339~~31517410 A-4 0.00000000 2319.~~42947650~~92952083 ~~898~~878.~~14071303~~21119220 0.~~89814071~~87821119 2319.~~42947650~~92952083 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~94780450~~95205879 ~~994~~993.~~39585274~~44379395 0.~~99439585~~99344379 0.~~94780450~~95205879 B-2 0.00000000 0.~~94780420~~95205855 ~~994~~993.~~39585307~~44379398 0.~~99439585~~99344379 0.~~94780420~~95205855 B-3 0.00000000 0.~~94780429~~95205900 ~~994~~993.~~39585314~~44379415 0.~~99439585~~99344379 0.~~94780429~~95205900 B-4 0.00000000 0.~~94780374~~95205955 ~~994~~993.~~39585306~~44379351 0.~~99439585~~99344379 0.~~94780374~~95205955 B-5 0.00000000 0.~~94780314~~95206015 ~~994~~993.~~39585311~~44379296 0.~~99439585~~99344379 0.~~94780314~~95206015 B-6 0.00000000 0.~~94780428~~95205895 ~~994~~993.~~39585255~~44379359 0.~~99439585~~99344379 0.~~94780428~~95205895 (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 1,661,650,700.00 4.12500% 1,~~525~~493,~~008~~966,~~495~~112.0761 5,~~242~~135,~~216~~508.7051 0.00 0.00 A-2 866,300,200.00 4.12500% ~~798~~778,~~356~~059,~~439~~479.8451 2,~~744~~674,~~350~~579.2646 0.00 0.00 A-3 25,100,000.00 4.12500% 2322,~~035~~567,~~956~~046.4999 7977,~~186~~574.1022 0.00 0.00 A-4 13,085,000.00 4.12500% 1211,~~058~~752,~~745~~171.9423 4140,~~451~~398.9409 0.00 0.00 X-1 0.00 0.~~05867~~05843% 2,~~358~~306,~~459~~344,~~637~~810.33 ~~115~~112,301.8745 0.00 0.00 B-1 28,966,100.00 4.~~18367~~18343% 28,~~831~~803,~~223~~769.9171 100,~~517~~415.0056 0.00 0.00 B-2 18,432,900.00 4.~~18367~~18343% 18,~~347~~329,~~070~~599.1032 63,~~965~~900.1156 0.00 0.00 B-3 6,583,300.00 4.~~18367~~18343% 6,~~552~~546,~~645~~406.9022 22,~~845~~822.1005 0.00 0.00 B-4 3,949,900.00 4.~~18367~~18343% 3,~~931~~927,~~507~~764.9118 13,~~706~~692.7995 0.00 0.00 B-5 2,633,300.00 4.~~18367~~18343% 2,~~621~~618,~~038~~542.4560 9,~~137~~128.9775 0.00 0.00 B-6 6,583,352.83 4.~~18367~~18343% 6,~~552~~546,~~698~~458.4875 22,~~845~~822.2923 0.00 0.00 Totals 2,633,284,752.83 8,~~455~~273,~~524~~143.1383 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 5,~~242~~135,~~216~~508.7051 0.00 1,~~493~~461,~~966~~871,~~112~~039.6190 A-2 0.00 0.00 2,~~744~~674,~~350~~579.2646 0.00 ~~778~~760,~~059~~794,~~479~~531.5155 A-3 0.00 0.00 7977,~~186~~574.1022 0.00 22,~~567~~082,~~046~~236.9912 A-4 0.00 0.00 4140,~~451~~398.9409 0.00 11,~~752~~491,~~171~~393.2345 X-1 0.00 0.00 ~~115~~112,301.8745 0.00 2,~~306~~256,~~344~~239,~~810~~201.3302 B-1 0.00 0.00 100,~~517~~415.0056 0.00 28,~~803~~776,~~769~~192.7128 B-2 0.00 0.00 63,~~965~~900.1156 0.00 18,~~329~~312,~~599~~050.3211 B-3 0.00 0.00 22,~~845~~822.1005 0.00 6,~~546~~540,~~406~~138.2253 B-4 0.00 0.00 13,~~706~~692.7995 0.00 3,~~927~~924,~~764~~003.1864 B-5 0.00 0.00 9,~~137~~128.9775 0.00 2,~~618~~616,~~542~~035.6054 B-6 0.00 0.00 22,~~845~~822.2923 0.00 6,~~546~~540,~~458~~191.7501 Totals 0.00 0.00 8,~~455~~273,~~524~~143.1383 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 1,661,650,700.00 4.12500% ~~917~~899.~~76719082~~08553742 3.~~15482472~~09060653 0.00000000 0.00000000 A-2 866,300,200.00 4.12500% ~~921~~898.~~57018992~~14071324 3.~~16789753~~08735870 0.00000000 0.00000000 A-3 25,100,000.00 4.12500% ~~917~~899.~~76719084~~08553745 3.~~15482470~~09060637 0.00000000 0.00000000 A-4 13,085,000.00 4.12500% ~~921~~898.~~57019029~~14071303 3.~~16789759~~08735881 0.00000000 0.00000000 X-1 0.00 0.~~05867~~05843% ~~919~~898.~~07043478~~76175706 0.~~04493210~~04376286 0.00000000 0.00000000 B-1 28,966,100.00 4.~~18367~~18343% ~~995~~994.~~34365724~~39585274 3.~~47015995~~46665792 0.00000000 0.00000000 B-2 18,432,900.00 4.~~18367~~18343% ~~995~~994.~~34365726~~39585307 3.~~47015988~~46665799 0.00000000 0.00000000 B-3 6,583,300.00 4.~~18367~~18343% ~~995~~994.~~34365744~~39585314 3.~~47015934~~46665806 0.00000000 0.00000000 B-4 3,949,900.00 4.~~18367~~18343% ~~995~~994.~~34365680~~39585306 3.~~47016127~~46665738 0.00000000 0.00000000 B-5 2,633,300.00 4.~~18367~~18343% ~~995~~994.~~34365625~~39585311 3.~~47015912~~46665781 0.00000000 0.00000000 B-6 6,583,352.83 4.~~18367~~18343% ~~995~~994.~~34365683~~39585255 3.~~47016036~~46665758 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 3.~~15482472~~09060653 0.00000000 ~~899~~879.~~08553742~~77036323 A-2 0.00000000 0.00000000 3.~~16789753~~08735870 0.00000000 ~~898~~878.~~14071324~~21119232 A-3 0.00000000 0.00000000 3.~~15482470~~09060637 0.00000000 ~~899~~879.~~08553745~~77036335 A-4 0.00000000 0.00000000 3.~~16789759~~08735881 0.00000000 ~~898~~878.~~14071303~~21119220 X-1 0.00000000 0.00000000 0.~~04493210~~04376286 0.00000000 ~~898~~879.~~76175706~~23605333 B-1 0.00000000 0.00000000 3.~~47015995~~46665792 0.00000000 ~~994~~993.~~39585274~~44379395 B-2 0.00000000 0.00000000 3.~~47015988~~46665799 0.00000000 ~~994~~993.~~39585307~~44379398 B-3 0.00000000 0.00000000 3.~~47015934~~46665806 0.00000000 ~~994~~993.~~39585314~~44379415 B-4 0.00000000 0.00000000 3.~~47016127~~46665738 0.00000000 ~~994~~993.~~39585306~~44379351 B-5 0.00000000 0.00000000 3.~~47015912~~46665781 0.00000000 ~~994~~993.~~39585311~~44379296 B-6 0.00000000 0.00000000 3.~~47016036~~46665758 0.00000000 ~~994~~993.~~39585255~~44379359 (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 6158,~~095~~967,~~418~~635.5779 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4313,~~846~~292.4894 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 6158,~~139~~980,~~265~~928.0573 Withdrawals Reimbursement for Servicer Advances 043,846.0048 Payment of Service Fee ~~505~~494,~~269~~399.9645 Payment of Interest and Principal 6058,~~633~~442,~~995~~682.0980 Total Withdrawals (Pool Distribution Amount) 6158,~~139~~980,~~265~~928.0573 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~505~~494,~~269~~399.9645 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~505~~494,~~269~~399.9645

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 196 0 0 0 196 103,~~063~~358,~~814~~073.9670 0.00 0.00 0.00 103,~~063~~358,~~814~~073.9670 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 196 0 0 0 196 103,~~063~~358,~~814~~073.9670 0.00 0.00 0.00 103,~~063~~358,~~814~~073.9670 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~418226~~134771% 0.000000% 0.000000% 0.000000% 0.~~418226~~134771% 0.~~423754~~144454% 0.000000% 0.000000% 0.000000% 0.~~423754~~144454% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~418226~~134771% 0.000000% 0.000000% 0.000000% 0.~~418226~~134771% 0.~~423754~~144454% 0.000000% 0.000000% 0.000000% 0.~~423754~~144454%

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 125 0 0 0 125 62,~~510~~755,~~868~~506.0456 0.00 0.00 0.00 62,~~510~~755,~~868~~506.0456 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 125 0 0 0 125 62,~~510~~755,~~868~~506.0456 0.00 0.00 0.00 62,~~510~~755,~~868~~506.0456 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~415800~~176866% 0.000000% 0.000000% 0.000000% 0.~~415800~~176866% 0.~~417015~~180256% 0.000000% 0.000000% 0.000000% 0.~~417015~~180256% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~415800~~176866% 0.000000% 0.000000% 0.000000% 0.~~415800~~176866% 0.~~417015~~180256% 0.000000% 0.000000% 0.000000% 0.~~417015~~180256% 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 71 0 0 0 71 3602,~~552,946~~567.9214 0.00 0.00 0.00 3602,~~552,946~~567.9214 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 71 0 0 0 71 3602,~~552,946~~567.9214 0.00 0.00 0.00 3602,~~552,946~~567.9214 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~422450~~061538% 0.000000% 0.000000% 0.000000% 0.~~422450~~061538% 0.~~436686~~075699% 0.000000% 0.000000% 0.000000% 0.~~436686~~075699% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~422450~~061538% 0.000000% 0.000000% 0.000000% 0.~~422450~~061538% 0.~~436686~~075699% 0.000000% 0.000000% 0.000000% 0.~~436686~~075699%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4313,~~846~~292.4894

REO Detail - All Mortgage Loans in REO during Current Period

Summary 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 ~~Sep~~Oct-04 0.000% Original Principal Balance 0.00 ~~Oct~~Nov-04 0.000% Current Principal Balance 0.00 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.000% Current REO Total ~~Jan~~Feb-05 0.000% Loans in REO 0 ~~Feb~~Mar-05 0.000% Original Principal Balance 0.00 ~~Mar~~Apr-05 0.000% Current Principal Balance 0.00 ~~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% *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~~Oct-04 0.000% Original Principal Balance 0.00 ~~Oct~~Nov-04 0.000% Current Principal Balance 0.00 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.000% Current REO Total ~~Jan~~Feb-05 0.000% Loans in REO 0 ~~Feb~~Mar-05 0.000% Original Principal Balance 0.00 ~~Mar~~Apr-05 0.000% Current Principal Balance 0.00 ~~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% *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~~Oct-04 0.000% Original Principal Balance 0.00 ~~Oct~~Nov-04 0.000% Current Principal Balance 0.00 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.000% Current REO Total ~~Jan~~Feb-05 0.000% Loans in REO 0 ~~Feb~~Mar-05 0.000% Original Principal Balance 0.00 ~~Mar~~Apr-05 0.000% Current Principal Balance 0.00 ~~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% *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 ~~Sep~~Oct-04 0.000% Original Principal Balance 0.00 ~~Oct~~Nov-04 0.000% Current Principal Balance 0.00 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.000% Current Foreclosure Total ~~Jan~~Feb-05 0.000% Loans in Foreclosure 0 ~~Feb~~Mar-05 0.000% Original Principal Balance 0.00 ~~Mar~~Apr-05 0.000% Current Principal Balance 0.00 ~~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% *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 ~~Sep~~Oct-04 0.000% Original Principal Balance 0.00 ~~Oct~~Nov-04 0.000% Current Principal Balance 0.00 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.000% Current Foreclosure Total ~~Jan~~Feb-05 0.000% Loans in Foreclosure 0 ~~Feb~~Mar-05 0.000% Original Principal Balance 0.00 ~~Mar~~Apr-05 0.000% Current Principal Balance 0.00 ~~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% *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 ~~Sep~~Oct-04 0.000% Original Principal Balance 0.00 ~~Oct~~Nov-04 0.000% Current Principal Balance 0.00 ~~Nov~~Dec-04 0.000% ~~Dec~~Jan-0405 0.000% Current Foreclosure Total ~~Jan~~Feb-05 0.000% Loans in Foreclosure 0 ~~Feb~~Mar-05 0.000% Original Principal Balance 0.00 ~~Mar~~Apr-05 0.000% Current Principal Balance 0.00 ~~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% *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 4.~~433667~~433431% Weighted Average Net Coupon 4.~~183667~~183431% Weighted Average Pass-Through Rate 4.~~183667~~183431% Weighted Average Maturity(Stepdown Calculation) ~~341~~340 Beginning Scheduled Collateral Loan Count 4,~~637~~543 Number Of Loans Paid In Full 9491 Ending Scheduled Collateral Loan Count 4,~~543~~452 Beginning Scheduled Collateral Balance 2,~~425~~373,~~295~~117,~~820~~349.8486 Ending Scheduled Collateral Balance 2,~~373~~322,~~117~~947,~~349~~810.8689 Ending Actual Collateral Balance at 2931-~~Jul~~Aug-2005 2,~~374~~324,~~918~~674,~~436~~293.5357 Monthly P&I Constant 11,~~273~~040,~~743~~787.3963 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 2,~~312~~273,~~949~~244.1924 Unscheduled Principal 4947,~~865~~896,~~521~~294.7973

Miscellaneous Reporting Senior Percentage Group I 97.~~236409~~182381% Senior Percentage Group II 97.~~259101~~193811% Senior Prep. Percentage Group I 100.000000% Senior Prep. Percentage Group II 100.000000% Subordinate Percentage Group I 2.~~763591~~817619% Subordinate Percentage Group II 2.~~740899~~806189% Subordinate Prep. Percentage Group I 0.000000% Subordinate Prep. Percentage Group II 0.000000%

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~434837~~434607 4.~~431430~~431172 4.~~433667~~433431 Weighted Average Net Rate 4.~~184837~~184607 4.~~181430~~181172 4.~~183667~~183431 Weighted Average Maturity ~~341~~ 340 ~~341~~339 340 Beginning Loan Count 2,~~945~~886 1,~~692~~657 4,~~637~~543 Loans Paid In Full 59 3532 9491 Ending Loan Count 2,~~886~~827 1,~~657~~625 4,~~543~~452 Beginning Scheduled Balance 1,~~592~~560,~~041~~502,~~983~~175.8351 ~~833~~812,~~253~~615,~~837~~174.0135 2,~~425~~373,~~295~~117,~~820~~349.8486 Ending Scheduled Balance 1,~~560~~527,~~502~~893,~~175~~683.5193 ~~812~~795,~~615~~054,~~174~~126.3596 2,~~373~~322,~~117~~947,~~349~~810.8689 Record Date 0708/2931/2005 0708/2931/2005 0708/2931/2005 Principal And Interest Constant 6,~~915~~781,~~045~~383.2992 4,~~358~~259,~~698~~403.1071 11,~~273~~040,~~743~~787.3963 Scheduled Principal 1,~~031~~014,~~339~~538.6376 1,~~281~~258,~~609~~705.5648 2,~~312~~273,~~949~~244.1924 Unscheduled Principal 3031,~~508~~593,~~468~~952.6982 1916,~~357~~302,~~053~~341.1091 4947,~~865~~896,~~521~~294.7973 Scheduled Interest 5,~~883~~766,~~705~~845.6616 3,~~077~~000,~~088~~698.5423 8,~~960~~767,~~794~~543.2039 Servicing Fees ~~331~~325,~~675~~104.4162 ~~173~~169,~~594~~294.5583 ~~505~~494,~~269~~399.9645 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 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 5,~~552~~441,~~030~~740.2554 2,~~903~~831,~~493~~403.9940 8,~~455~~273,~~524~~143.2494 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 4.~~184837~~184607 4.~~181430~~181172 4.~~183667~~183431

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 59 30,~~696~~955,~~120~~760.00 2930,~~995~~448,~~314~~601.2278 0 0.00 0.00 Group 2 3532 1916,~~729~~077,~~840~~091.00 1915,~~098~~461,~~893~~905.9789 0 0.00 0.00 Total 9491 5047,~~425~~032,~~960~~851.00 4945,~~094~~910,~~208~~507.1967 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 ~~534~~1,~~617~~165,854.8134 Group 2 0 0.00 0.00 0 0.00 0.00 ~~286~~864,~~752~~063.0804 Total 0 0.00 0.00 0 0.00 0.00 ~~821~~2,~~369~~029,917.8938

Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Group 1 ~~0000782929~~0000517358 TXNM 80.00 01-Sep-2003 ~~420~~448,000.00 ~~220~~433,~~000~~213.0048 Group 1 ~~0023937477~~0027472091 VAWA 80.00 01-~~Jul~~Aug-2003 ~~371~~415,~~920~~200.00 ~~367~~400,~~804~~297.8145 Group 1 ~~0026822411~~0029850286 MAMI 6942.7604 01-~~Aug~~Nov-2003 ~~600~~840,~~050~~720.00 ~~579~~813,~~377~~467.7846 Group 1 ~~0027571314~~0029851755 CAVA 80.00 01-~~Jul~~Oct-2003 ~~720~~476,000.00 ~~720~~476,000.00 Group 1 ~~0028087724~~0030001259 CACT 4464.9155 01-~~Aug~~Oct-2003 ~~575~~361,~~000~~500.00 ~~575~~349,~~000~~568.0041 Group 1 ~~0029767639~~0030134852 ILAZ 7770.0576 01-~~Nov~~Sep-2003 ~~366~~460,000.00 ~~354~~460,~~968~~000.5600 Group 1 ~~0030637672~~0031474588 COMN 5780.2200 01-~~Oct~~Sep-2003 ~~495~~481,~~000~~350.00 ~~494~~481,~~895~~350.8600 Group 1 ~~0032691362~~0038166914 CAMD 80.00 01-~~Oct~~Mar-~~2003~~2004 ~~382~~480,~~400~~000.00 ~~382~~467,~~400~~572.0061 Group 1 ~~0034371344~~0038521175 VACA 5261.9086 01-~~Oct~~May-~~2003~~2004 ~~365~~989,~~000~~920.00 ~~353~~898,~~476~~086.8423 Group 1 ~~0035935907~~0038926499 NYIL 6875.4100 01-~~Apr~~May-2004 ~~650~~684,~~000~~750.00 ~~649~~684,~~987~~750.00 Group 1 ~~0037839875~~0039326129 CAWA 7580.00 01-~~Apr~~May-2004 ~~450~~536,000.00 ~~449~~536,~~914~~000.0200 Group 1 ~~0038493417~~0039476783 WACA 5971.8838 01-May-2004 ~~448~~489,000.00 ~~447~~477,~~421~~718.1439 Group 1 ~~0038523015~~0039587936 DCCA 8067.0061 01-May-2004 ~~468~~406,000.00 ~~457~~395,~~632~~797.8886 Group 1 ~~0038738019~~0039607312 NCCA 8069.0088 01-~~Jun~~May-2004 ~~498~~426,~~000~~300.00 ~~498~~416,~~000~~464.0090 Group 1 ~~0039237037~~0039640826 CAFL 8070.00 01-May-2004 ~~560~~468,~~000~~300.00 ~~559~~468,~~894~~300.4800 Group 1 ~~0039560529~~0039658455 MDNJ 80.00 01-May-2004 ~~427~~479,~~600~~920.00 ~~418~~468,~~332~~847.6792 Group 1 ~~0039639265~~0039660196 CA 7077.3733 01-~~May~~Jun-2004 ~~570~~498,~~000~~750.00 ~~569~~487,~~997~~593.4554 Group 1 ~~0039858907~~0039752787 CA 5780.6100 01-~~Jun~~May-2004 1376,~~210,~~000.00 1376,~~210,~~000.00 Group 1 ~~0040030389~~0039759378 CAIL 8069.0075 01-May-2004 ~~403~~544,~~950~~050.00 ~~394~~531,~~996~~498.9830 Group 1 ~~0040542227~~0039763438 CANJ 7577.0036 01-~~Jun~~May-2004 ~~450~~410,000.00 ~~448~~409,~~736~~992.8712 Group 1 ~~0049703648~~0039796321 DCVA 8066.0016 01-~~Feb~~May-~~2005~~2004 ~~360~~397,000.00 ~~360~~387,~~000~~638.0096 Group 1 ~~0124712738~~0040012155 SCDC 8076.0047 01-~~Jan~~May-~~2003~~2004 ~~387~~650,~~200~~000.00 ~~369~~650,~~898~~000.5800 Group 1 ~~0126541739~~0040643579 MOAZ 80.00 01-~~Apr~~May-~~2003~~2004 ~~440~~544,000.00 ~~421~~543,~~848~~809.8509 Group 1 ~~0128511276~~0041118076 CAGA 6572.0019 01-~~Aug~~Jun-~~2003~~2004 ~~780~~613,~~000~~700.00 ~~753~~600,~~131~~399.8141 Group 1 ~~0128673787~~0128337532 NYTX 3578.3879 01-Aug-2003 ~~460~~618,~~000~~500.00 ~~444~~595,~~154~~970.7914 Group 1 ~~0130058159~~0129195368 CANJ 6870.8700 01-~~Sep~~Oct-2003 ~~396~~665,000.00 ~~382~~661,~~929~~801.6004 Group 1 ~~0130083058~~0130309503 CA 8058.0061 01-Sep-2003 ~~392~~381,000.00 ~~391~~367,~~231~~771.2297 Group 1 ~~0130343718~~0130393473 COCA 5880.3800 01-~~Oct~~Aug-2003 ~~379~~447,~~500~~400.00 ~~367~~425,~~258~~780.6860 Group 1 ~~0130354293~~0130530637 NJIL 4571.2083 01-~~Oct~~Nov-2003 ~~425~~668,000.00 ~~411~~668,~~290~~000.9100 Group 1 ~~0130855992~~0130552284 CA 5765.1831 01-~~Sep~~Oct-2003 ~~686~~405,~~250~~000.00 ~~686~~404,~~250~~474.0002 Group 1 ~~0130949217~~0130557739 CA 5071.0019 01-~~Sep~~Oct-2003 1630,000~~,000~~.00 1629,~~000,000~~385.0016 Group 1 ~~0131169039~~0130684962 CAVA 7580.00 01-~~Jan~~Oct-~~2004~~2003 ~~750~~743,~~000~~200.00 ~~750~~739,~~000~~070.0046 Group 1 ~~0131477341~~0132268657 VACA 7469.1672 01-Nov-2003 ~~489~~495,~~500~~000.00 ~~474~~495,~~746~~000.0900 Group 1 ~~0133172932~~0132977208 CA 7880.4100 01-~~Jun~~Dec-~~2004~~2003 ~~367~~471,~~000~~200.00 ~~367~~471,~~000~~200.00 Group 1 ~~0133965681~~0134695964 NYDC 6560.3784 01-~~Mar~~May-2004 ~~850~~642,000.00 ~~845~~641,~~736~~940.0111 Group 1 ~~0134065853~~0135022051 CA 8071.0031 01-~~Feb~~May-2004 ~~424~~490,000.00 ~~412~~478,~~784~~446.8806 Group 1 ~~0134336965~~0135206605 FLMA 80.00 01-~~Mar~~Apr-2004 ~~370~~404,~~400~~000.00 ~~370~~392,~~332~~258.4824 Group 1 ~~0135040087~~0135313419 CA 7931.9832 01-~~May~~Apr-2004 ~~378~~470,~~300~~000.00 ~~378~~470,~~300~~000.00 Group 1 ~~0135682813~~0135394237 CA 8064.0086 01-May-2004 ~~540~~607,000.00 ~~537~~607,~~084.99 Group 1 0135794576 CA 80.00 01-May-2004 388,~~000.00 ~~378,883.00~~ Group 1 ~~0135888303~~0135559904 CA 7546.0038 01-May-2004 ~~393~~382,750.00 ~~385~~372,~~027~~781.6683 Group 1 ~~0135934214~~0135652865 CA 6068.7018 01-~~Jun~~May-2004 ~~425~~600,000.00 ~~424~~585,~~500~~852.0011 Group 1 ~~0135937274~~0135676575 CA 6069.8848 01-May-2004 ~~761~~410,000.00 ~~744~~410,~~506~~000.9800 Group 1 ~~0135941243~~0135708709 CA 7756.4475 01-May-2004 ~~484~~521,000.00 ~~473~~508,~~278~~714.3899 Group 1 ~~0136107794~~0135748887 CA 5880.0900 01-~~May~~Apr-2004 ~~366~~440,000.00 ~~293~~439,~~573~~997.9449 Group 1 ~~0136211083~~0135768901 CA 7755.6216 01-~~Jun~~May-2004 ~~406~~800,000.00 ~~396~~781,~~514~~543.2017 Group 1 ~~0136396249~~0135887123 CA 7570.00 01-~~Jun~~May-2004 ~~637~~427,~~500~~000.00 ~~637~~420,~~500~~860.0074 Group 1 ~~0136644804~~0135908408 CA 70.0093 01-Jun-2004 ~~642~~649,~~600~~000.00 ~~629~~648,~~115~~103.4117 Group 1 ~~0136644879~~0135923258 CAFL 80.00 01-Jun-2004 ~~524~~480,000.00 ~~504~~479,~~267~~909.6158 Group 1 ~~0136654787~~0136142619 CA 8068.0063 01-Jun-2004 ~~431~~453,~~200~~000.00 ~~430~~442,~~999~~727.9655 Group 1 ~~0136706579~~0136211356 CA 6680.1800 01-~~Jul~~May-2004 ~~450~~384,000.00 ~~450~~384,000.00 Group 1 ~~0136853231~~0136270055 CA 8068.00 01-Jun-2004 ~~492~~986,000.00 ~~492~~986,000.00 Group 1 ~~0223604968~~0136408093 CA 6867.9147 01-~~Nov~~Jun-~~2003~~2004 ~~448~~560,000.00 ~~434~~560,~~497~~000.0600 Group 1 ~~0223726589~~0136773991 CA 4163.9733 01-~~Aug~~Jun-~~2003~~2004 ~~487~~418,000.00 ~~469~~408,~~858~~740.5344 Group 1 ~~0223904285~~0138253414 CAGA 6080.6100 01-Oct-~~2003~~2004 1408,000~~,000~~.00 ~~967~~408,~~207~~000.6000 Group 1 ~~0224402636~~0224452102 CA 5479.4186 01-~~Oct~~Aug-2003 ~~400~~460,000.00 ~~387~~443,~~097~~489.5334 Group 1 ~~0224687996~~0224736975 CA 7962.4795 01-Aug-2003 ~~604~~598,000.00 ~~583~~576,~~194~~370.4202 Group 1 ~~0224816678~~0224883942 CA 5271.5012 01-Aug-2003 ~~400~~462,~~000~~250.00 ~~386~~445,~~147~~300.3591 Group 1 ~~0226189942~~0225218718 CA 7128.7361 01-~~Oct~~Sep-2003 ~~650~~472,000.00 ~~628~~455,~~865~~270.0276 Group 21 ~~0124613589~~0226358141 MDWI 6966.9130 01-~~Feb~~Oct-2003 ~~559~~431,~~334~~000.00 ~~534~~407,~~865~~972.5145 Group 2 ~~0128194305~~0126168715 CA 6780.0900 01-~~Jul~~Mar-2003 ~~446~~940,~~200~~000.00 ~~430~~899,~~184~~387.8580 Group 2 ~~0128601929~~0127500411 CANJ 6875.1556 01-~~Aug~~May-2003 ~~886~~400,000.00 ~~835~~383,~~377~~748.4841 Group 2 ~~0128870276~~0128317146 CAIL 6447.8388 01-~~Aug~~Jul-2003 ~~496~~455,000.00 ~~478~~438,~~914~~008.6453 Group 2 ~~0128935566~~0128546371 MNOR 8067.0086 01-Aug-2003 ~~479~~984,~~200.00 462,693.26 Group 2 0129935797 CA 50.00 01-Sep-2003 360,~~000.00 ~~348~~948,~~117~~682.8808 Group 2 ~~0129980561~~0128555174 MAMD 4738.6159 01-~~Sep~~Jun-2003 ~~400~~525,000.00 ~~386~~504,~~797~~604.5205 Group 2 ~~0130165111~~0129511879 CA 52.5479 01-~~Sep~~Aug-2003 ~~512~~415,~~266~~000.00 ~~495~~393,~~358~~321.2549 Group 2 ~~0130202203~~0129667259 CA 7069.0041 01-~~Sep~~Aug-2003 ~~840~~420,000.00 ~~812~~404,~~054~~516.2578 Group 2 ~~0130296155~~0130049653 MOCA 6369.2205 01-Sep-2003 ~~411~~473,000.00 ~~388~~456,~~518~~706.0895 Group 2 ~~0130323454~~0130089493 CA 4473.6386 01-~~Oct~~Aug-2003 ~~781~~421,~~200~~000.00 ~~756~~405,~~537~~889.1022 Group 2 ~~0130397862~~0130097132 CAWA 4170.0062 01-~~Sep~~Aug-2003 ~~410~~445,000.00 ~~396~~428,~~174~~683.4457 Group 2 ~~0130407232~~0130309529 CANJ 7980.~~98 01-Aug-2003 473,300.~~00 ~~456,644.10 Group 2 0130457252 CA 30.30~~ 01-Sep-2003 ~~394~~372,~~000~~800.00 ~~380~~359,~~713~~680.8475 Group 2 ~~0130474992~~0130330855 CAVA 5564.5622 01-~~Sep~~Jul-2003 ~~850~~594,000.00 ~~821~~571,~~337~~176.1409 Group 2 ~~0130612211~~0130380041 CA 7977.3712 01-Sep-2003 ~~500~~425,000.00 ~~483~~409,~~135~~235.6102 Group 2 ~~0130648793~~0130426455 CA 7252.9116 01-Oct-2003 ~~619~~385,~~790~~000.00 ~~600~~372,~~222~~017.2144 Group 2 ~~0130895394~~0130526833 TXCA 7746.3895 01-Oct-2003 ~~634~~427,~~600~~300.00 ~~589~~412,~~699~~890.8398 Group 2 ~~0130947757~~0130542426 CA 5161.3463 01-~~Oct~~Sep-2003 ~~950~~450,000.00 ~~919~~341,~~356~~337.5792 Group 2 ~~0131084295~~0130697436 CA 8040.00 01-Sep-2003 ~~434~~500,~~400~~000.00 ~~416~~479,~~373~~143.1599 Group 2 ~~0131262321~~0130731748 CA 7965.9862 01-~~Dec~~Oct-2003 ~~587~~472,~~850~~500.00 ~~570~~445,~~969~~051.3071 Group 2 ~~0131336141~~0130774144 CA 8028.0070 01-Nov-2003 ~~383~~807,~~200~~000.00 ~~371~~781,~~650~~522.1244 Group 2 ~~0131425126~~0130898067 PACA 5451.5465 01-~~Sep~~Oct-2003 ~~600~~671,~~000~~500.00 ~~580~~648,~~196~~856.6423 Group 2 ~~0131816886~~0131206088 NJPA 9080.00 01-~~Oct~~Dec-2003 ~~558~~396,000.00 ~~540~~384,~~000~~064.8020 Group 2 ~~0131871659~~0131333866 CA 6579.5691 01-Sep-2003 ~~400~~391,~~000~~500.00 ~~386~~378,~~511~~014.6838 Group 2 ~~0132973157~~0131370579 CA 5180.5600 01-~~Dec~~Oct-2003 ~~510~~388,~~000~~800.00 ~~495~~375,~~354~~689.7412 Group 2 ~~0133957902~~0133040352 ILCA 5767.1308 01-~~Feb~~Apr-2004 ~~520~~436,000.00 ~~506~~425,~~242~~329.8420 Group 2 ~~0134464098~~0133546473 CAMN 6380.4100 01-~~Apr~~Jan-2004 ~~945~~360,000.00 ~~922~~349,~~717~~563.2388 Group 2 ~~0135016814~~0135521979 CA 6045.4970 01-May-2004 ~~725~~393,~~900~~000.00 ~~710~~383,~~167~~933.7603 Group 2 ~~0135511574~~0135624484 CA 5874.9383 01-May-2004 ~~386~~479,000.00 ~~373~~467,~~481~~705.4531 Group 2 ~~0135552552~~0135787257 CAFL 5266.6304 01-~~Apr~~Jul-2004 ~~500~~634,000.00 ~~488~~621,~~210~~142.1653 Group 2 ~~0135707719~~0135787604 CA 8075.0087 01-May-2004 ~~513~~368,~~600~~000.00 ~~502~~357,~~222~~581.8530 Group 2 ~~0135810869~~0135911881 CA 6757.1559 01-May-2004 ~~601~~432,000.00 ~~587~~422,~~974~~033.6624 Group 2 ~~0136081312~~0135963924 CA ~~36.~~70.00 01-~~May~~Jun-2004 ~~523~~840,000.00 ~~511~~821,~~414~~392.4744 Group 2 ~~0137032132~~0136243086 NJCA 5780.4000 01-~~Sep~~Jun-2004 ~~539~~375,~~000~~691.00 ~~530~~367,~~110~~368.6179

Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning Group 1 ~~0000782929~~0000517358 Loan Paid in Full 0 4.500% 360 2324 Group 1 ~~0023937477~~0027472091 Loan Paid in Full 0 4.500% 360 25 Group 1 ~~0026822411~~0029850286 Loan Paid in Full 0 4.500% 360 2422 Group 1 ~~0027571314~~0029851755 Loan Paid in Full 0 4.500% 360 2523 Group 1 ~~0028087724~~0030001259 Loan Paid in Full 0 4.500% 360 2423 Group 1 ~~0029767639~~0030134852 Loan Paid in Full 0 4.500% 360 2124 Group 1 ~~0030637672~~0031474588 Loan Paid in Full 0 4.500% 360 2224 Group 1 ~~0032691362~~0038166914 Loan Paid in Full 0 4.500% 360 2218 Group 1 ~~0034371344~~0038521175 Loan Paid in Full ~~(1)~~0 4.500% 360 2216 Group 1 ~~0035935907~~0038926499 Loan Paid in Full 0 4.500% 360 16 Group 1 ~~0037839875~~0039326129 Loan Paid in Full 0 4.~~500~~375% 360 16 Group 1 ~~0038493417~~0039476783 Loan Paid in Full 0 4.~~375~~500% 360 1516 Group 1 ~~0038523015~~0039587936 Loan Paid in Full 0 4.~~375~~500% 360 1516 Group 1 ~~0038738019~~0039607312 Loan Paid in Full ~~(1)~~0 4.500% 360 1416 Group 1 ~~0039237037~~0039640826 Loan Paid in Full 0 4.~~375~~500% 360 1516 Group 1 ~~0039560529~~0039658455 Loan Paid in Full 0 4.500% 360 1516 Group 1 ~~0039639265~~0039660196 Loan Paid in Full 0(1) 4.500% 360 15 Group 1 ~~0039858907~~0039752787 Loan Paid in Full 0(1) 4.500% 360 1416 Group 1 ~~0040030389~~0039759378 Loan Paid in Full 0 4.~~375~~500% 360 1516 Group 1 ~~0040542227~~0039763438 Loan Paid in Full 0 4.~~500~~375% 360 1416 Group 1 ~~0049703648~~0039796321 Loan Paid in Full 0 4.~~500~~375% 360 616 Group 1 ~~0124712738~~0040012155 Loan Paid in Full 0 4.~~500~~375% 360 3116 Group 1 ~~0126541739~~0040643579 Loan Paid in Full 0 4.500% 360 2816 Group 1 ~~0128511276~~0041118076 Loan Paid in Full ~~(1)~~0 4.500% 360 2415 Group 1 ~~0128673787~~0128337532 Loan Paid in Full 0 4.500% 360 2425 Group 1 ~~0130058159~~0129195368 Loan Paid in Full 0 4.500% 360 23 Group 1 ~~0130083058~~0130309503 Loan Paid in Full 0(1) 4.500% 360 2324 Group 1 ~~0130343718~~0130393473 Loan Paid in Full 0 4.375% 360 2225 Group 1 ~~0130354293~~0130530637 Loan Paid in Full 0 4.375% 360 22 Group 1 ~~0130855992~~0130552284 Loan Paid in Full 0 4.375% 360 23 Group 1 ~~0130949217~~0130557739 Loan Paid in Full 0 4.375% 360 23 Group 1 ~~0131169039~~0130684962 Loan Paid in Full 0(1) 4.~~500~~375% 360 1923 Group 1 ~~0131477341~~0132268657 Loan Paid in Full 0 4.~~500~~375% 360 2122 Group 1 ~~0133172932~~0132977208 Loan Paid in Full 0 4.~~500~~375% 360 1421 Group 1 ~~0133965681~~0134695964 Loan Paid in Full 0 4.500% 360 1716 Group 1 ~~0134065853~~0135022051 Loan Paid in Full 0 4.~~375~~500% 360 1816 Group 1 ~~0134336965~~0135206605 Loan Paid in Full 0 4.375% 360 17 Group 1 ~~0135040087~~0135313419 Loan Paid in Full 0 4.500% 360 1517 Group 1 ~~0135682813~~0135394237 Loan Paid in Full 0(1) 4.500% 360 1516 Group 1 ~~0135794576~~0135559904 Loan Paid in Full 0 4.500% 360 1516 Group 1 ~~0135888303~~0135652865 Loan Paid in Full 0(1) 4.375% 360 1516 Group 1 ~~0135934214~~0135676575 Loan Paid in Full 0 4.~~375~~500% 360 1416 Group 1 ~~0135937274~~0135708709 Loan Paid in Full 0 4.~~500~~375% 360 1516 Group 1 ~~0135941243~~0135748887 Loan Paid in Full 0 4.~~375~~500% 360 1517 Group 1 ~~0136107794~~0135768901 Loan Paid in Full 0 4.~~375~~500% 360 1516 Group 1 ~~0136211083~~0135887123 Loan Paid in Full 0 4.~~375~~500% 360 1416 Group 1 ~~0136396249~~0135908408 Loan Paid in Full 0 4.375% 360 1415 Group 1 ~~0136644804~~0135923258 Loan Paid in Full 0(3) 4.375% 360 1415 Group 1 ~~0136644879~~0136142619 Loan Paid in Full 0 4.375% 360 1415 Group 1 ~~0136654787~~0136211356 Loan Paid in Full 0 4.375% 360 1416 Group 1 ~~0136706579~~0136270055 Loan Paid in Full 0 4.375% 360 1315 Group 1 ~~0136853231~~0136408093 Loan Paid in Full 0 4.375% 360 1415 Group 1 ~~0223604968~~0136773991 Loan Paid in Full 0 4.~~500~~375% 360 2115 Group 1 ~~0223726589~~0138253414 Loan Paid in Full 0 4.375% 360 2411 Group 1 ~~0223904285~~0224452102 Loan Paid in Full 0 4.~~375~~500% 360 2225 Group 1 ~~0224402636~~0224736975 Loan Paid in Full ~~(2)~~0 4.~~375~~500% 360 2225 Group 1 ~~0224687996~~0224883942 Loan Paid in Full ~~(1)~~0 4.~~500~~375% 360 2425 Group 1 ~~0224816678~~0225218718 Loan Paid in Full 0 4.~~500~~375% 360 24 Group 1 ~~0226189942~~0226358141 Loan Paid in Full ~~(1)~~0 4.375% 360 2223 Group 2 ~~0124613589~~0126168715 Loan Paid in Full 0 4.500% 360 30 Group 2 ~~0128194305~~0127500411 Loan Paid in Full 0 4.500% 360 2528 Group 2 ~~0128601929~~0128317146 Loan Paid in Full ~~(1)~~0 4.500% 360 2426 Group 2 ~~0128870276~~0128546371 Loan Paid in Full 0 4.500% 360 2425 Group 2 ~~0128935566~~0128555174 Loan Paid in Full 0 4.500% 360 2427 Group 2 ~~0129935797~~0129511879 Loan Paid in Full 0 4.500% 360 2325 Group 2 ~~0129980561~~0129667259 Loan Paid in Full 0 4.500% 360 2325 Group 2 ~~0130165111~~0130049653 Loan Paid in Full 0 4.500% 360 2324 Group 2 ~~0130202203~~0130089493 Loan Paid in Full 0 4.500% 360 2325 Group 2 ~~0130296155~~0130097132 Loan Paid in Full 0 4.375% 360 2325 Group 2 ~~0130323454~~0130309529 Loan Paid in Full 0 4.~~500~~375% 360 2224 Group 2 ~~0130397862~~0130330855 Loan Paid in Full 0 4.375% 360 2326 Group 2 ~~0130407232~~0130380041 Loan Paid in Full 0 4.~~375~~500% 360 24 Group 2 ~~0130457252~~0130426455 Loan Paid in Full 0 4.375% 360 23 Group 2 ~~0130474992~~0130526833 Loan Paid in Full 0 4.375% 360 23 Group 2 ~~0130612211~~0130542426 Loan Paid in Full 0 4.375% 360 2324 Group 2 ~~0130648793~~0130697436 Loan Paid in Full 0 4.500% 360 2224 Group 2 ~~0130895394~~0130731748 Loan Paid in Full 0 4.375% 360 2223 Group 2 ~~0130947757~~0130774144 Loan Paid in Full 0 4.~~375~~500% 360 22 Group 2 ~~0131084295~~0130898067 Loan Paid in Full ~~(1)~~0 4.~~500~~375% 360 23 Group 2 ~~0131262321~~0131206088 Loan Paid in Full 0 4.500% 360 2021 Group 2 ~~0131336141~~0131333866 Loan Paid in Full 0 4.500% 360 2124 Group 2 ~~0131425126~~0131370579 Loan Paid in Full ~~(1) 4.500% 360 23 Group 2 0131816886 Loan Paid in Full~~ 0 4.375% 360 2223 Group 2 ~~0131871659~~0133040352 Loan Paid in Full 0 4.~~375~~500% 360 2317 Group 2 ~~0132973157~~0133546473 Loan Paid in Full 0(1) 4.500% 360 20 Group 2 ~~0133957902~~0135521979 Loan Paid in Full 0 4.~~375~~500% 360 1816 Group 2 ~~0134464098~~0135624484 Loan Paid in Full 0 4.375% 360 16 Group 2 ~~0135016814~~0135787257 Loan Paid in Full 0 4.500% 360 1514 Group 2 ~~0135511574~~0135787604 Loan Paid in Full (21) 4.500% 360 ~~15 Group 2 0135552552 Loan Paid in Full 0 4.375% 360~~ 16 Group 2 ~~0135707719~~0135911881 Loan Paid in Full 0 4.~~375% 360 15 Group 2 0135810869 Loan Paid in Full 0 4.~~500% 360 1516 Group 2 ~~0136081312~~0135963924 Loan Paid in Full 0 4.375% 360 15 Group 2 ~~0137032132~~0136243086 Loan Paid in Full 0 4.375% 360 1115

Prepayment - Voluntary Prepayments

Summary SMM CPR PSA Current Month 2.~~058~~020% Current Month 2221.~~084~~722% Current Month ~~603~~563.~~791~~473% 3 Month Average 1.~~968~~977% 3 Month Average 21.~~213~~307% 3 Month Average ~~613~~582.~~791~~720% 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 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 6.528% N/A Mar-2005 244.204% N/A Apr-2005 17.379% N/A Apr-2005 605.476% N/A May-2005 18.693% N/A May-2005 609.091% N/A Jun-2005 21.441% N/A Jun-2005 656.687% N/A Jul-2005 20.115% N/A Jul-2005 580.895% N/A Aug-2005 22.084% N/A Aug-2005 603.791% N/A Sep-2005 21.722% N/A Sep-2005 563.473% 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 12.~~918~~026% Current Month 2021.~~732~~777% Current Month ~~583~~579.~~332~~978% 3 Month Average 1.~~845~~905% 3 Month Average 20.~~028~~608% 3 Month Average ~~597~~579.~~567~~500% 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 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 7.353% N/A Mar-2005 286.113% N/A Apr-2005 20.189% N/A Apr-2005 730.172% N/A May-2005 20.160% N/A May-2005 680.042% N/A Jun-2005 20.039% N/A Jun-2005 634.178% N/A Jul-2005 19.313% N/A Jul-2005 575.191% N/A Aug-2005 20.732% N/A Aug-2005 583.332% N/A Sep-2005 21.777% N/A Sep-2005 579.978% 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 2.~~327~~009% Current Month 2421.~~610~~617% Current Month ~~638~~534.~~201~~047% 3 Month Average 2.~~201~~115% 3 Month Average 2322.~~423~~617% 3 Month Average ~~640~~587.~~700~~493% 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 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 4.925% N/A Mar-2005 171.553% N/A Apr-2005 11.736% N/A Apr-2005 382.210% N/A May-2005 15.834% N/A May-2005 484.655% N/A Jun-2005 24.037% N/A Jun-2005 693.666% N/A Jul-2005 21.623% N/A Jul-2005 590.232% N/A Aug-2005 24.610% N/A Aug-2005 638.201% N/A Sep-2005 21.617% N/A Sep-2005 534.047% 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. ~~Sep-2004 N/A N/A Sep-2004 N/A N/A~~ Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A 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 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A 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 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A 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 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A 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 0.000% 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 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A 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 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 0.000% N/A Mar-2005 0.000% N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.000% N/A May-2005 0.000% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.000% N/A Aug-2005 0.000% N/A 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 · BEAR STEARNS ARM TRUST, MORTGAGE-BACKED NOTES, SERIES 2005-2