8-K 1 srm05011_10510.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): October 25, 2005 STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2005-11 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-120575-27 Pooling and Servicing Agreement) (Commission 54-2173175 (State or other File Number) 54-2173176 jurisdiction 54-2173177 of Incorporation) 54-2173178 54-2173179 54-2173180 54-6658796 54-6658797 IRS EIN 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 October 25, 2005 a distribution was made to holders of STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2005-11 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-11 Trust, relating to the October 25, 2005 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2005-11 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 10/25/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-11 Trust, relating to the October 25, 2005 distribution. EX-99.1

Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 79/2930/2005 Distribution Date: 810/25/2005 Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates Series SARM 2005-11 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution 1-A1 863579RP5 SEN 5.~~46299~~45492% ~~164~~156,~~748~~597,~~153~~775.7445 ~~750~~711,~~015~~857.0520 1-A2 863579RQ3 SEN 5.~~46299~~45492% 76,~~229~~871,~~351~~702.6198 3231,~~911~~237.5817 2-A1 863579RR1 SEN 5.~~41510~~41557% 5351,~~696~~719,~~112~~526.55 ~~242~~233,~~308~~408.3984 2-A2 863579RS9 SEN 5.~~41510~~41557% 3,~~695~~559,~~806~~762.9610 16,~~677~~065.6511 3A 863579RT7 SEN 5.~~44607~~43248% ~~150~~142,~~490~~933,~~030~~113.7463 ~~682~~647,~~982~~068.3614 4A 863579RU4 SEN 5.~~41511~~40799% 4139,~~476~~515,~~965~~696.1412 ~~187~~178,~~168~~083.6559 5A 863579RV2 SEN 5.~~74544~~74584% 18,~~835~~622,~~256~~958.8774 9089,~~180~~170.7744 B1 863579RW0 SUB 5.~~45858~~45012% 15,~~086~~079,~~376~~853.1108 68,~~625~~489.2120 B2 863579RX8 SUB 5.~~45858~~45012% 5,~~440~~438,~~529~~177.3801 24,~~747~~698.9994 B3 863579RY6 SUB 5.~~45858~~45012% 1,~~482~~481,~~054~~413.5776 6,~~741~~728.6024 B4 863579RZ3 SUB 5.~~45858~~45012% 1,~~234~~233,~~212~~679.6702 5,~~614~~603.2108 B5 863579SA7 SUB 5.~~45858~~45012% 1,~~234~~233,~~212~~679.6702 5,~~614~~603.2108 B6 863579SC3 SUB 5.~~45858~~45012% 1,728,~~897~~149.1056 7,~~864~~848.4486 B7 863579SD1 SUB 5.~~45858~~45012% 2,~~224~~223,~~580~~619.9003 10,~~119~~099.2216 B8 863579SE9 SUB 5.~~45858~~45012% 1,~~501~~500,~~173~~524.3730 6,~~828~~815.5703 P SRM05011P RES 0.00000% 0.01 3250,~~734~~704.6216 R 863579SB5 RES 5.~~45383~~45311% 0.00 0.00 Totals ~~470~~449,~~103~~739,~~714~~630.3936 2,~~171~~093,~~134~~480.5224

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses 1-A1 65,~~153~~643,~~088~~033.9703 0.00 ~~158~~150,~~595~~954,~~064~~742.7842 6,~~903~~354,~~104~~890.0223 0.00 1-A2 ~~270~~247,~~005~~623.1123 0.00 6,~~959~~624,~~346~~079.4975 ~~302~~278,~~916~~860.6940 0.00 2-A1 ~~904~~1,~~638~~019,142.3868 0.00 5250,~~791~~700,~~474~~383.1687 1,~~146~~252,~~946~~551.7752 0.00 2-A2 6270,~~264~~145.6376 0.00 3,~~633~~489,~~542~~616.3334 7886,~~942~~210.2887 0.00 3A 43,~~882~~825,~~320~~702.3111 0.00 ~~145~~139,~~607~~107,~~710~~411.4352 54,~~565~~472,~~302~~770.6725 0.00 4A ~~710~~818,~~329~~096.4313 0.00 4038,~~766~~697,~~635~~599.7299 ~~897~~996,~~498~~179.0872 0.00 5A ~~205~~340,~~524~~184.8104 0.00 18,~~629~~282,~~732~~774.0670 ~~295~~429,~~705~~354.5848 0.00 B1 3,~~223~~307.9671 0.00 15,~~083~~076,~~152~~545.1636 71,~~849~~796.1791 0.00 B2 1,~~162~~192.6485 0.00 5,~~439~~436,~~366~~984.7417 25,~~910~~891.6379 0.00 B3 ~~316~~324.7294 0.00 1,481,~~737~~088.8582 7,~~058~~053.3218 0.00 B4 ~~263~~270.7560 0.00 1,233,~~948~~408.9242 5,~~877~~873.9668 0.00 B5 ~~263~~270.7560 0.00 1,233,~~948~~408.9242 5,~~877~~873.9668 0.00 B6 ~~369~~379.4706 0.00 1,~~728~~727,~~527~~770.6450 8,~~233~~227.9192 0.00 B7 ~~475~~487.3974 0.00 2,~~224~~223,~~105~~131.5029 10,~~594~~586.6190 0.00 B8 ~~320~~329.8013 0.00 1,500,~~852~~195.5716 7,~~149~~144.3716 0.00 P 0.00 0.00 0.01 3250,~~734~~704.6216 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 1311,~~194~~970,~~568~~489.1261 0.00 ~~456~~437,~~909~~769,~~146~~140.2874 1514,~~365~~063,~~702~~969.6485 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) 1-A1 176,408,000.00 ~~164~~156,~~748~~597,~~153~~775.7445 27,~~158~~055.9204 65,~~125~~615,~~930~~977.0599 0.00 0.00 1-A2 7,741,000.00 76,~~229~~871,~~351~~702.6198 1,~~191~~187.7721 ~~268~~246,~~813~~436.3402 0.00 0.00 2-A1 54,745,000.00 5351,~~696~~719,~~112~~526.55 19,~~977~~163.6442 ~~884~~999,~~660~~979.7526 0.00 0.00 2-A2 3,768,000.00 3,~~695~~559,~~806~~762.9610 1,~~375~~318.0298 6068,~~889~~826.6178 0.00 0.00 3A 160,925,000.00 ~~150~~142,~~490~~933,~~030~~113.7463 27,~~638~~174.3962 43,~~854~~798,~~681~~527.9249 0.00 0.00 4A 42,056,000.00 4139,~~476~~515,~~965~~696.1412 1514,~~259~~738.2960 ~~695~~803,~~070~~357.1453 0.00 0.00 5A 19,419,000.00 18,~~835~~622,~~256~~958.8774 2,~~171~~155.1245 ~~203~~338,~~353~~028.6959 0.00 0.00 B1 15,096,000.00 15,~~086~~079,~~376~~853.1108 3,~~223~~307.9671 0.00 0.00 0.00 B2 5,444,000.00 5,~~440~~438,~~529~~177.3801 1,~~162~~192.6485 0.00 0.00 0.00 B3 1,483,000.00 1,~~482~~481,~~054~~413.5776 ~~316~~324.7294 0.00 0.00 0.00 B4 1,235,000.00 1,~~234~~233,~~212~~679.6702 ~~263~~270.7560 0.00 0.00 0.00 B5 1,235,000.00 1,~~234~~233,~~212~~679.6702 ~~263~~270.7560 0.00 0.00 0.00 B6 1,730,000.00 1,728,~~897~~149.1056 ~~369~~379.4706 0.00 0.00 0.00 B7 2,226,000.00 2,~~224~~223,~~580~~619.9003 ~~475~~487.3974 0.00 0.00 0.00 B8 1,502,131.00 1,~~501~~500,~~173~~524.3730 ~~320~~329.8013 0.00 0.00 0.00 P 0.01 0.01 0.00 0.00 0.00 0.00 R 100.00 0.00 0.00 0.00 0.00 0.00 Totals 495,013,231.01 ~~470~~449,~~103~~739,~~714~~630.3936 ~~101~~99,~~168~~355.6395 1311,~~093~~871,~~399~~133.5066 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution 1-A1 65,~~153~~643,~~088~~033.9703 ~~158~~150,~~595~~954,~~064~~742.7842 0.~~89902422~~85571370 65,~~153~~643,~~088~~033.9703 1-A2 ~~270~~247,~~005~~623.1123 6,~~959~~624,~~346~~079.4975 0.~~89902422~~85571370 ~~270~~247,~~005~~623.1123 2-A1 ~~904~~1,~~638~~019,142.3868 5250,~~791~~700,~~474~~383.1687 0.~~96431590~~92611899 ~~904~~1,~~638~~019,142.3868 2-A2 6270,~~264~~145.6376 3,~~633~~489,~~542~~616.3334 0.~~96431590~~92611899 6270,~~264~~145.6376 3A 43,~~882~~825,~~320~~702.3111 ~~145~~139,~~607~~107,~~710~~411.4352 0.~~90481722~~86442387 43,~~882~~825,~~320~~702.3111 4A ~~710~~818,~~329~~096.4313 4038,~~766~~697,~~635~~599.7299 0.~~96934173~~92014457 ~~710~~818,~~329~~096.4313 5A ~~205~~340,~~524~~184.8104 18,~~629~~282,~~732~~774.0670 0.~~95935589~~94148899 ~~205~~340,~~524~~184.8104 B1 3,~~223~~307.9671 15,~~083~~076,~~152~~545.1636 0.~~99914892~~99871127 3,~~223~~307.9671 B2 1,~~162~~192.6485 5,~~439~~436,~~366~~984.7417 0.~~99914892~~99871127 1,~~162~~192.6485 B3 ~~316~~324.7294 1,481,~~737~~088.8582 0.~~99914892~~99871127 ~~316~~324.7294 B4 ~~263~~270.7560 1,233,~~948~~408.9242 0.~~99914892~~99871127 ~~263~~270.7560 B5 ~~263~~270.7560 1,233,~~948~~408.9242 0.~~99914892~~99871127 ~~263~~270.7560 B6 ~~369~~379.4706 1,~~728~~727,~~527~~770.6450 0.~~99914892~~99871127 ~~369~~379.4706 B7 ~~475~~487.3974 2,~~224~~223,~~105~~131.5029 0.~~99914892~~99871127 ~~475~~487.3974 B8 ~~320~~329.8013 1,500,~~852~~195.5716 0.~~99914892~~99871127 ~~320~~329.8013 P 0.00 0.01 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 1311,~~194~~970,~~568~~489.1261 ~~456~~437,~~909~~769,~~146~~140.2874 0.~~92302411~~88435846 1311,~~194~~970,~~568~~489.1261

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A1 176,408,000.00 ~~933~~887.~~90409585~~70223261 0.~~15395515~~15336629 3431.~~72591974~~83516615 0.00000000 1-A2 7,741,000.00 ~~933~~887.~~90409637~~70223227 0.~~15395556~~15336649 3431.~~72591913~~83516600 0.00000000 2-A1 54,745,000.00 ~~980~~944.~~84048863~~73516394 0.~~36492173~~35004877 1618.~~15966298~~26612951 0.00000000 2-A2 3,768,000.00 ~~980~~944.~~84048832~~73516454 0.~~36492038~~35004777 1618.~~15966295~~26613057 0.00000000 3A 160,925,000.00 ~~935~~888.~~15631965~~19707087 0.~~17174703~~16886512 3023.~~16735697~~60433426 0.00000000 4A 42,056,000.00 ~~986~~939.~~23181330~~59711147 0.~~36283265~~35045178 1619.~~52725271~~10209078 0.00000000 5A 19,419,000.00 ~~969~~959.~~93958855~~00709305 0.~~11180390~~11099696 1017.~~47189299~~40710593 0.00000000 B1 15,096,000.00 ~~999~~998.~~36248741~~93038421 0.~~21356386~~21911169 0.00000000 0.00000000 B2 5,444,000.00 ~~999~~998.~~36248714~~93038391 0.~~21356356~~21911278 0.00000000 0.00000000 B3 1,483,000.00 ~~999~~998.~~36248820~~93038436 0.~~21356709~~21910991 0.00000000 0.00000000 B4 1,235,000.00 ~~999~~998.~~36248583~~93038057 0.~~21356275~~21910931 0.00000000 0.00000000 B5 1,235,000.00 ~~999~~998.~~36248583~~93038057 0.~~21356275~~21910931 0.00000000 0.00000000 B6 1,730,000.00 ~~999~~998.~~36248555~~93038150 0.~~21356647~~21910983 0.00000000 0.00000000 B7 2,226,000.00 ~~999~~998.~~36248877~~93038185 0.~~21356244~~21911051 0.00000000 0.00000000 B8 1,502,131.00 ~~999~~998.~~36248570~~93038623 0.~~21356326~~21910872 0.00000000 0.00000000 P 0.01 0.00000000 0.00000000 0.00000000 0.00000000 R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution 1-A1 0.00000000 3431.~~87987489~~98853244 ~~899~~855.~~02422101~~71370017 0.~~89902422~~85571370 3431.~~87987489~~98853244 1-A2 0.00000000 3431.~~87987469~~98853249 ~~899~~855.~~02422038~~71369978 0.~~89902422~~85571370 3431.~~87987469~~98853249 2-A1 0.00000000 1618.~~52458453~~61617828 ~~964~~926.~~31590392~~11898566 0.~~96431590~~92611899 1618.~~52458453~~61617828 2-A2 0.00000000 1618.~~52458333~~61617834 ~~964~~926.~~31590499~~11898620 0.~~96431590~~92611899 1618.~~52458333~~61617834 3A 0.00000000 3023.~~33910399~~77319938 ~~904~~864.~~81721566~~42387149 0.~~90481722~~86442387 3023.~~33910399~~77319938 4A 0.00000000 1619.~~89008536~~45254256 ~~969~~920.~~34172817~~14456891 0.~~96934173~~92014457 1619.~~89008536~~45254256 5A 0.00000000 1017.~~58369689~~51810289 ~~959~~941.~~35589165~~48899016 0.~~95935589~~94148899 1017.~~58369689~~51810289 B1 0.00000000 0.~~21356386~~21911169 ~~999~~998.~~14892422~~71127186 0.~~99914892~~99871127 0.~~21356386~~21911169 B2 0.00000000 0.~~21356356~~21911278 ~~999~~998.~~14892359~~71127296 0.~~99914892~~99871127 0.~~21356356~~21911278 B3 0.00000000 0.~~21356709~~21910991 ~~999~~998.~~14892111~~71127444 0.~~99914892~~99871127 0.~~21356709~~21910991 B4 0.00000000 0.~~21356275~~21910931 ~~999~~998.~~14892308~~71127126 0.~~99914892~~99871127 0.~~21356275~~21910931 B5 0.00000000 0.~~21356275~~21910931 ~~999~~998.~~14892308~~71127126 0.~~99914892~~99871127 0.~~21356275~~21910931 B6 0.00000000 0.~~21356647~~21910983 ~~999~~998.~~14892486~~71127168 0.~~99914892~~99871127 0.~~21356647~~21910983 B7 0.00000000 0.~~21356244~~21911051 ~~999~~998.~~14892183~~71127134 0.~~99914892~~99871127 0.~~21356244~~21911051 B8 0.00000000 0.~~21356326~~21910872 ~~999~~998.~~14892243~~71127085 0.~~99914892~~99871127 0.~~21356326~~21910872 P 0.00000000 0.00000000 0.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall 1-A1 176,408,000.00 5.~~46299~~45492% ~~164~~156,~~748~~597,~~153~~775.7445 ~~750~~711,~~015~~857.0520 0.00 0.00 1-A2 7,741,000.00 5.~~46299~~45492% 76,~~229~~871,~~351~~702.6198 3231,~~911~~237.5817 0.00 0.00 2-A1 54,745,000.00 5.~~41510~~41557% 5351,~~696~~719,~~112~~526.55 ~~242~~233,~~308~~408.3984 0.00 0.00 2-A2 3,768,000.00 5.~~41510~~41557% 3,~~695~~559,~~806~~762.9610 16,~~677~~065.6511 0.00 0.00 3A 160,925,000.00 5.~~44607~~43248% ~~150~~142,~~490~~933,~~030~~113.7463 ~~682~~647,~~982~~068.3614 0.00 0.00 4A 42,056,000.00 5.~~41511~~40799% 4139,~~476~~515,~~965~~696.1412 ~~187~~178,~~168~~083.6559 0.00 0.00 5A 19,419,000.00 5.~~74544~~74584% 18,~~835~~622,~~256~~958.8774 9089,~~180~~170.7744 0.00 0.00 B1 15,096,000.00 5.~~45858~~45012% 15,~~086~~079,~~376~~853.1108 68,~~625~~489.2120 0.00 0.00 B2 5,444,000.00 5.~~45858~~45012% 5,~~440~~438,~~529~~177.3801 24,~~747~~698.9994 0.00 0.00 B3 1,483,000.00 5.~~45858~~45012% 1,~~482~~481,~~054~~413.5776 6,~~741~~728.6024 0.00 0.00 B4 1,235,000.00 5.~~45858~~45012% 1,~~234~~233,~~212~~679.6702 5,~~614~~603.2108 0.00 0.00 B5 1,235,000.00 5.~~45858~~45012% 1,~~234~~233,~~212~~679.6702 5,~~614~~603.2108 0.00 0.00 B6 1,730,000.00 5.~~45858~~45012% 1,728,~~897~~149.1056 7,~~864~~848.4486 0.00 0.00 B7 2,226,000.00 5.~~45858~~45012% 2,~~224~~223,~~580~~619.9003 10,~~119~~099.2216 0.00 0.00 B8 1,502,131.00 5.~~45858~~45012% 1,~~501~~500,~~173~~524.3730 6,~~828~~815.5703 0.00 0.00 P 0.01 0.00000% 0.01 0.00 0.00 0.00 R 100.00 5.~~45383~~45311% 0.00 0.00 0.00 0.00 Totals 495,013,231.01 2,~~138~~042,~~399~~776.9008 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance 1-A1 0.00 0.00 ~~750~~711,~~015~~857.0520 0.00 ~~158~~150,~~595~~954,~~064~~742.7842 1-A2 0.00 0.00 3231,~~911~~237.5817 0.00 6,~~959~~624,~~346~~079.4975 2-A1 0.00 0.00 ~~242~~233,~~308~~408.3984 0.00 5250,~~791~~700,~~474~~383.1687 2-A2 0.00 0.00 16,~~677~~065.6511 0.00 3,~~633~~489,~~542~~616.3334 3A 0.00 0.00 ~~682~~647,~~982~~068.3614 0.00 ~~145~~139,~~607~~107,~~710~~411.4352 4A 0.00 0.00 ~~187~~178,~~168~~083.6559 0.00 4038,~~766~~697,~~635~~599.7299 5A 0.00 0.00 9089,~~180~~170.7744 0.00 18,~~629~~282,~~732~~774.0670 B1 0.00 0.00 68,~~625~~489.2120 0.00 15,~~083~~076,~~152~~545.1636 B2 0.00 0.00 24,~~747~~698.9994 0.00 5,~~439~~436,~~366~~984.7417 B3 0.00 0.00 6,~~741~~728.6024 0.00 1,481,~~737~~088.8582 B4 0.00 0.00 5,~~614~~603.2108 0.00 1,233,~~948~~408.9242 B5 0.00 0.00 5,~~614~~603.2108 0.00 1,233,~~948~~408.9242 B6 0.00 0.00 7,~~864~~848.4486 0.00 1,~~728~~727,~~527~~770.6450 B7 0.00 0.00 10,~~119~~099.2216 0.00 2,~~224~~223,~~105~~131.5029 B8 0.00 0.00 6,~~828~~815.5703 0.00 1,500,~~852~~195.5716 P 0.00 0.00 3250,~~734~~704.6216 0.00 0.01 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,~~171~~093,~~134~~480.5224 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall 1-A1 176,408,000.00 5.~~46299~~45492% ~~933~~887.~~90409585~~70223261 4.~~25159318~~03528865 0.00000000 0.00000000 1-A2 7,741,000.00 5.~~46299~~45492% ~~933~~887.~~90409637~~70223227 4.~~25159282~~03528872 0.00000000 0.00000000 2-A1 54,745,000.00 5.~~41510~~41557% ~~980~~944.~~84048863~~73516394 4.~~42612823~~26356453 0.00000000 0.00000000 2-A2 3,768,000.00 5.~~41510~~41557% ~~980~~944.~~84048832~~73516454 4.~~42612792~~26356423 0.00000000 0.00000000 3A 160,925,000.00 5.~~44607~~43248% ~~935~~888.~~15631965~~19707087 4.~~24410353~~02092987 0.00000000 0.00000000 4A 42,056,000.00 5.~~41511~~40799% ~~986~~939.~~23181330~~59711147 4.~~45046248~~23443956 0.00000000 0.00000000 5A 19,419,000.00 5.~~74544~~74584% ~~969~~959.~~93958855~~00709305 4.~~64394511~~59191719 0.00000000 0.00000000 B1 15,096,000.00 5.~~45858~~45012% ~~999~~998.~~36248741~~93038421 4.~~54592011~~53691044 0.00000000 0.00000000 B2 5,444,000.00 5.~~45858~~45012% ~~999~~998.~~36248714~~93038391 4.~~54592028~~53691036 0.00000000 0.00000000 B3 1,483,000.00 5.~~45858~~45012% ~~999~~998.~~36248820~~93038436 4.~~54592043~~53691167 0.00000000 0.00000000 B4 1,235,000.00 5.~~45858~~45012% ~~999~~998.~~36248583~~93038057 4.~~54591903~~53690688 0.00000000 0.00000000 B5 1,235,000.00 5.~~45858~~45012% ~~999~~998.~~36248583~~93038057 4.~~54591903~~53690688 0.00000000 0.00000000 B6 1,730,000.00 5.~~45858~~45012% ~~999~~998.~~36248555~~93038150 4.~~54591908~~53691329 0.00000000 0.00000000 B7 2,226,000.00 5.~~45858~~45012% ~~999~~998.~~36248877~~93038185 4.~~54592093~~53690925 0.00000000 0.00000000 B8 1,502,131.00 5.~~45858~~45012% ~~999~~998.~~36248570~~93038623 4.~~54592176~~53690790 0.00000000 0.00000000 P 0.01 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R 100.00 5.~~45383~~45311% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denomination

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance 1-A1 0.00000000 0.00000000 4.~~25159318~~03528865 0.00000000 ~~899~~855.~~02422101~~71370017 1-A2 0.00000000 0.00000000 4.~~25159282~~03528872 0.00000000 ~~899~~855.~~02422038~~71369978 2-A1 0.00000000 0.00000000 4.~~42612823~~26356453 0.00000000 ~~964~~926.~~31590392~~11898566 2-A2 0.00000000 0.00000000 4.~~42612792~~26356423 0.00000000 ~~964~~926.~~31590499~~11898620 3A 0.00000000 0.00000000 4.~~24410353~~02092987 0.00000000 ~~904~~864.~~81721566~~42387149 4A 0.00000000 0.00000000 4.~~45046248~~23443956 0.00000000 ~~969~~920.~~34172817~~14456891 5A 0.00000000 0.00000000 4.~~64394511~~59191719 0.00000000 ~~959~~941.~~35589165~~48899016 B1 0.00000000 0.00000000 4.~~54592011~~53691044 0.00000000 ~~999~~998.~~14892422~~71127186 B2 0.00000000 0.00000000 4.~~54592028~~53691036 0.00000000 ~~999~~998.~~14892359~~71127296 B3 0.00000000 0.00000000 4.~~54592043~~53691167 0.00000000 ~~999~~998.~~14892111~~71127444 B4 0.00000000 0.00000000 4.~~54591903~~53690688 0.00000000 ~~999~~998.~~14892308~~71127126 B5 0.00000000 0.00000000 4.~~54591903~~53690688 0.00000000 ~~999~~998.~~14892308~~71127126 B6 0.00000000 0.00000000 4.~~54591908~~53691329 0.00000000 ~~999~~998.~~14892486~~71127168 B7 0.00000000 0.00000000 4.~~54592093~~53690925 0.00000000 ~~999~~998.~~14892183~~71127134 B8 0.00000000 0.00000000 4.~~54592176~~53690790 0.00000000 ~~999~~998.~~14892243~~71127085 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 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 1514,~~474~~167,~~282~~928.4507 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) 0.00 Prepayment Penalties 0.00 Total Deposits 1514,~~474~~167,~~282~~928.4507 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~108~~103,~~579~~958.8122 Payment of Interest and Principal 1514,~~365~~063,~~702~~969.6485 Total Withdrawals (Pool Distribution Amount) 1514,~~474~~167,~~282~~928.4507 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~105~~101,~~641~~147.6635 Wells Fargo Bank, N.A. 2,~~938~~810.1587 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~108~~103,~~579~~958.8122

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 01 0 0 01 0278,186.0047 0.00 0.00 0278,186.0047 30 Days 01 0 0 0 01 0750,000.00 0.00 0.00 0.00 0750,000.00 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 01 01 0 0 02 0750,000.00 0278,186.0047 0.00 0.00 01,028,186.0047 0-29 Days 0.~~000000~~266667% 0.000000% 0.000000% 0.~~000000~~266667% 0.~~000000~~164176% 0.000000% 0.000000% 0.~~000000~~164176% 30 Days 0.~~000000~~266667% 0.000000% 0.000000% 0.000000% 0.~~000000~~266667% 0.~~000000~~442623% 0.000000% 0.000000% 0.000000% 0.~~000000~~442623% 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.~~000000~~266667% 0.~~000000~~266667% 0.000000% 0.000000% 0.~~000000~~533333% 0.~~000000~~442623% 0.~~000000~~164176% 0.000000% 0.000000% 0.~~000000~~606798% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 01 0 0 01 0173,494.0028 0.00 0.00 0173,494.0028 30 Days 10 0 0 0 10 ~~260,000~~0.00 0.00 0.00 0.00 ~~260,000~~0.00 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 0 1 0 0 0 1 ~~260,000~~0.00 0173,494.0028 0.00 0.00 ~~260~~173,~~000~~494.0028 0-29 Days 0.~~000000~~358423% 0.000000% 0.000000% 0.~~000000~~358423% 0.~~000000~~299309% 0.000000% 0.000000% 0.~~000000~~299309% 30 Days 0.~~346021~~000000% 0.000000% 0.000000% 0.000000% 0.~~346021~~000000% 0.~~431869~~000000% 0.000000% 0.000000% 0.000000% 0.~~431869~~000000% 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.~~346021~~000000% 0.~~000000~~358423% 0.000000% 0.000000% 0.~~346021~~358423% 0.~~431869~~000000% 0.~~000000~~299309% 0.000000% 0.000000% 0.~~431869~~299309% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 10 0 0 0 10 ~~650,000~~0.00 0.00 0.00 0.00 ~~650,000~~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 10 0 0 0 10 ~~650,000~~0.00 0.00 0.00 0.00 ~~650,000~~0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.~~259067~~000000% 0.000000% 0.000000% 0.000000% 0.~~259067~~000000% 0.~~416710~~000000% 0.000000% 0.000000% 0.000000% 0.~~416710~~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.~~259067~~000000% 0.000000% 0.000000% 0.000000% 0.~~259067~~000000% 0.~~416710~~000000% 0.000000% 0.000000% 0.000000% 0.~~416710~~000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 5 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 156,194.00 0.03155350% 156,194.00 0.~~03418491~~03567954% Fraud 9,900,265.00 2.00000008% 9,900,265.00 2.~~16679072~~26152647% Special Hazard 7,349,100.00 1.48462698% 7,349,100.00 1.~~60843793~~67876155% Limit of Subordinate's Exposure to Certain Types of Losses

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~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current REO Total ~~Jan~~Mar-05 0.000% Loans in REO 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.000% ~~Aug~~Oct-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 1 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 ~~Sep~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current REO Total ~~Jan~~Mar-05 0.000% Loans in REO 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.000% ~~Aug~~Oct-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 ~~Sep~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current REO Total ~~Jan~~Mar-05 0.000% Loans in REO 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.000% ~~Aug~~Oct-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. 3 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 ~~Sep~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current REO Total ~~Jan~~Mar-05 0.000% Loans in REO 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.000% ~~Aug~~Oct-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. 4 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 ~~Sep~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current REO Total ~~Jan~~Mar-05 0.000% Loans in REO 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.000% ~~Aug~~Oct-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. 5 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 ~~Sep~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current REO Total ~~Jan~~Mar-05 0.000% Loans in REO 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.000% ~~Aug~~Oct-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~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current Foreclosure Total ~~Jan~~Mar-05 0.000% Loans in Foreclosure 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.~~000~~145% ~~Aug~~Oct-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 1 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Sep~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current Foreclosure Total ~~Jan~~Mar-05 0.000% Loans in Foreclosure 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.000% ~~Aug~~Oct-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 2 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Sep~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current Foreclosure Total ~~Jan~~Mar-05 0.000% Loans in Foreclosure 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.000% ~~Aug~~Oct-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. 3 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Sep~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current Foreclosure Total ~~Jan~~Mar-05 0.000% Loans in Foreclosure 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.~~000~~424% ~~Aug~~Oct-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. 4 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Sep~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current Foreclosure Total ~~Jan~~Mar-05 0.000% Loans in Foreclosure 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.000% ~~Aug~~Oct-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. 5 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Sep~~Nov-04 0.000% Original Principal Balance 0.00 ~~Oct~~Dec-04 0.000% Current Principal Balance 0.00 ~~Nov~~Jan-0405 0.000% ~~Dec~~Feb-0405 0.000% Current Foreclosure Total ~~Jan~~Mar-05 0.000% Loans in Foreclosure 0 ~~Feb~~Apr-05 0.000% Original Principal Balance 0.00 ~~Mar~~May-05 0.000% Current Principal Balance 0.00 ~~Apr~~Jun-05 0.000% ~~May~~Jul-05 0.000% ~~Jun~~Aug-05 0.000% ~~Jul~~Sep-05 0.000% ~~Aug~~Oct-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~735703~~727938% Weighted Average Net Coupon 5.~~466039~~458056% Weighted Average Pass-Through Rate 5.~~458539~~450556% Weighted Average Maturity(Stepdown Calculation) ~~356~~354 Beginning Scheduled Collateral Loan Count 1,~~272~~221 Number Of Loans Paid In Full 3127 Ending Scheduled Collateral Loan Count 1,~~241~~194 Beginning Scheduled Collateral Balance ~~470~~449,~~103~~739,~~714~~630.7976 Ending Scheduled Collateral Balance ~~456~~437,~~909~~769,~~146~~141.6713 Ending Actual Collateral Balance at 2930-~~Jul~~Sep-2005 ~~456~~437,~~977~~835,~~827~~234.7196 Monthly P&I Constant 2,~~348~~246,~~148~~090.0608 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 1513,~~190~~870,~~416~~817.1047 Scheduled Principal ~~101~~99,~~168~~355.6297 Unscheduled Principal 1311,~~093~~871,~~399~~133.5066

Group Level Collateral Statement Group 1 2 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~735182~~727057 5.~~672604~~673067 5.~~743444~~730734 Weighted Average Net Rate 5.~~470492~~462421 5.~~422604~~423067 5.~~453567~~439983 Weighted Average Maturity ~~356~~354 ~~356~~354 ~~356~~354 Beginning Loan Count ~~406~~388 ~~294~~283 ~~395~~381 Loans Paid In Full 1213 54 97 Ending Loan Count ~~394~~375 ~~289~~279 ~~386~~374 Beginning Scheduled Balance ~~183~~175,~~831~~319,~~056~~048.2313 6159,~~155~~040,~~742~~319.7661 ~~160~~153,~~848~~287,~~036~~251.2988 Ending Scheduled Balance ~~177~~169,~~406~~426,~~008~~344.0865 6057,~~187~~949,~~439~~637.4161 ~~155~~149,~~963~~459,~~813~~581.6723 Record Date 0709/2930/2005 0709/2930/2005 0709/2930/2005 Principal And Interest Constant ~~908~~867,~~891~~007.9299 ~~311~~300,~~846~~992.5836 ~~799~~761,~~392~~183.1261 Scheduled Principal 30,~~304~~289.7647 2221,~~752~~875.9996 29,~~540~~143.7016 Unscheduled Principal 65,~~394~~862,~~743~~414.3901 ~~945~~1,~~550~~068,806.3604 43,~~854~~798,~~681~~527.9249 Scheduled Interest ~~878~~836,~~587~~718.1652 ~~289~~279,~~093~~116.5940 ~~769~~732,~~851~~040.4245 Servicing Fees 4038,~~548~~663.5613 12,~~740~~300.7807 3837,~~855~~140.1038 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~148~~095.9474 ~~382~~369.2200 ~~1,005~~958.3005 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 ~~836~~796,~~889~~959.6665 ~~275~~266,~~970~~447.5933 ~~729~~693,~~991~~942.02 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.~~462992~~454921 5.~~415104~~415567 5.~~446067~~432483

Group Level Collateral Statement Group 4 5 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~674282~~667230 6.~~005712~~006138 5.~~735703~~727938 Weighted Average Net Rate 5.~~422611~~415485 5.~~752943~~753339 5.~~466039~~458056 Weighted Average Maturity ~~356~~354 ~~356~~354 ~~356~~354 Beginning Loan Count ~~128~~122 4947 1,~~272~~221 Loans Paid In Full 3 2 311 27 Ending Loan Count ~~125~~120 4746 1,~~241~~194 Beginning Scheduled Balance 4442,~~183~~219,~~245~~962.0385 2019,~~085~~873,~~634~~048.4829 ~~470~~449,~~103~~739,~~714~~630.7976 Ending scheduled Balance 4341,~~471~~400,~~919~~858.9708 19,~~879~~532,~~965~~719.5456 ~~456~~437,~~909~~769,~~146~~141.6713 Record Date 0709/2930/2005 0709/2930/2005 0709/2930/2005 Principal And Interest Constant ~~225~~215,~~178~~139.4109 ~~102~~101,~~839~~767.03 2,~~348~~246,~~148~~090.0608 Scheduled Principal 1615,~~254~~747.9224 2,~~315~~300.2514 ~~101~~99,~~168~~355.6297 Unscheduled Principal ~~695~~803,~~070~~357.1453 ~~203~~338,~~353~~028.6959 1311,~~093~~871,~~399~~133.5066 Scheduled Interest ~~208~~199,~~923~~391.4985 ~~100~~99,~~523~~466.7889 2,~~246~~146,~~979~~734.4411 Servicing Fees 98,~~266~~857.3620 4,~~230~~186.8657 ~~105~~101,~~641~~147.6635 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~276~~263.1587 ~~125~~124.5421 2,~~938~~810.1587 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 ~~199~~190,~~380~~270.9878 9695,~~167~~156.3811 2,~~138~~042,~~399~~775.6389 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.~~415111~~407985 5.~~745443~~745839 5.~~458539~~450556

Prepayment Detail - Prepayments during Current Period Summary Loans Paid In Full Repurchased Loans Original Current Original Current Principal Principal Principal Principal Group Count Balance Balance Count Balance Balance 1 1213 6,~~090~~149,~~405~~160.00 65,~~088~~845,~~166~~526.8853 0 0.00 0.00 2 54 ~~934~~1,~~500~~063,570.00 ~~932~~1,~~635~~062,753.4219 0 0.00 0.00 3 97 43,~~833~~553,~~000~~168.00 43,~~830~~533,~~248~~032.5472 0 0.00 0.00 4 32 ~~680~~801,~~200~~900.00 ~~680~~795,~~200~~840.0067 0 0.00 0.00 5 21 ~~202~~333,~~400~~700.00 ~~202~~333,~~251~~700.2300 0 0.00 0.00 Total 3127 1211,~~740~~901,~~505~~498.00 1211,~~733~~570,~~502~~853.0711 0 0.00 0.00

Prepayment Detail - Prepayments during Current Period (continued) Summary Substitution Loans Liquidated Loans Curtailments Original Current Original Current Principal Principal Principal Principal Curtailment Group Count Balance Balance Count Balance Balance Amount 1 0 0.00 0.00 0 0.00 0.00 ~~306~~16,~~693~~887.3448 2 0 0.00 0.00 0 0.00 0.00 136,~~541~~187.3538 3 0 0.00 0.00 0 0.00 0.00 24268,~~537~~089.6965 4 0 0.00 0.00 0 0.00 0.00 148,~~870~~288.1494 5 0 0.00 0.00 0 0.00 0.00 14,~~140~~328.4259 Total 0 0.00 0.00 0 0.00 0.00 ~~360~~303,782.9404

Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount 1 ~~0019870682~~0018498592 CAWI 8074.0029 01-~~May~~Dec-~~2005~~2004 ~~220~~650,000.00 ~~220~~643,~~000~~500.00 1 ~~0019967231~~0019771401 CACO 6075.00 01-May-2005 ~~660~~453,000.00 ~~660~~452,~~000~~999.0099 1 ~~0030167696~~0019893528 AZCA 8074.0055 01-~~Mar~~May-2005 ~~215~~492,~~200~~000.00 ~~214~~492,~~551~~000.1400 1 ~~0030281554~~0019955749 CAUT 80.00 01-~~Apr~~May-2005 ~~440~~588,000.00 ~~440~~588,000.00 1 ~~0030363410~~0030303358 CA 7475.6000 01-Apr-2005 ~~940~~720,000.00 ~~940~~720,000.00 1 ~~0030419014~~0030317432 VANV 8064.0093 01-~~May~~Apr-2005 ~~603~~174,~~092~~000.00 ~~603~~173,~~092~~978.0019 1 ~~0030437446~~0030346613 CA 6280.4100 01-~~May~~Apr-2005 ~~830~~560,000.00 ~~830~~560,000.00 1 ~~0030455083~~0030347397 CA 7780.5000 01-~~May~~Apr-2005 ~~465~~546,000.00 ~~465~~545,~~000~~999.0099 1 ~~0030457113~~0030407050 CA 8077.0038 01-~~May~~Apr-2005 ~~610~~650,~~113~~000.00 ~~610~~352,~~113~~979.0017 1 ~~0035046630~~0035065648 PANJ 6580.00 01-May-2005 ~~422~~424,~~500~~000.00 ~~422~~424,~~500~~000.00 1 ~~0115593485~~0115592099 CA 7580.00 01-~~Mar~~Feb-2005 ~~598~~400,~~500~~000.00 ~~598~~399,~~500~~909.0019 1 ~~0400569166~~0115593121 UTCA 80.00 01-~~Jun~~Mar-~~2004~~2005 86368,~~000~~160.00 84368,~~293~~160.~~91 2 0017169079 AZ 80.~~00 ~~01-Jan-2004~~1 ~~99,200.00~~0115593923 ~~99,196.11~~HI ~~2 0019755743 FL 80~~47.0069 01-May-2005 ~~139~~124,~~200~~000.00 ~~138~~124,~~667~~000.~~54 2 0030080436 WA 79.99 01-Mar-2005 214,100.~~00 ~~214,100.00~~ 2 ~~0030318752~~0018843060 COMN 80.00 01-~~May~~Jan-2005 ~~212~~252,000.00 ~~211~~251,~~263~~938.6931 2 ~~0030434534~~0030422968 CA 4280.8600 01-May-2005 ~~270~~300,000.00 ~~268~~300,~~781.67 3 0018438390 NV 57.14 01-Nov-2004 80,~~000.00 ~~78,971.98~~2 30030428809 ~~0019928142~~ CA 6378.2518 01-May-2005 ~~525~~359,~~000~~650.00 ~~524~~359,~~964~~556.3934 32 ~~0019969930~~0035186147 CAAZ 3680.3600 01-May-2005 ~~400~~151,~~000~~920.00 ~~398~~151,~~663~~124.6101 3 ~~0030074926~~0017251158 CANH 7976.9929 01-~~Mar~~Feb-~~2005~~2004 ~~549~~415,000.00 ~~549~~405,~~000~~010.0086 3 ~~0030344139~~0017411968 FLCO 7265.6300 01-Apr-~~2005~~2004 ~~650~~173,~~000~~660.00 ~~650~~173,~~000~~660.00 3 ~~0030379374~~0019835016 ~~PA 74.70 01-Apr-2005 620,000.00 619,544.26 3 0035067560~~ CA 60.00 01-May-2005 1990,~~500,~~000.00 1983,~~500,000~~423.0032 3 ~~0115592495~~0019835123 NVCA 7975.9800 01-~~Feb~~May-2005 ~~325~~705,000.00 ~~324~~701,~~999~~029.9973 3 ~~0400564837~~0030302046 WAMD 80.00 01-~~Jun~~Apr-~~2004~~2005 ~~184~~295,~~000~~920.00 ~~184~~293,~~000~~725.0095 43 ~~0030245245~~0030474837 AZFL 7876.6765 01-~~Mar~~May-2005 ~~177~~650,000.00 ~~177~~650,000.00 43 ~~0030249452~~0115592552 CA 80.00 01-~~Apr~~Feb-2005 ~~235~~323,~~200~~588.00 ~~235~~323,~~200~~587.0098 4 ~~0030414338~~0030260475 VAAZ 8079.0099 01-~~May~~Apr-2005 ~~268~~151,~~000~~900.00 ~~268~~151,~~000~~897.0045 54 ~~0030427157~~0115128027 FLMN 8074.0029 01-~~May~~Feb-2005 46650,~~400~~000.00 46643,~~218~~171.7014 5 ~~0035038926~~0019091016 MDCA 8044.0049 01-~~May~~Jan-2005 ~~156~~333,~~000~~700.00 ~~155~~333,~~994~~700.5700

Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning 1 ~~0019870682~~0018498592 Loan Paid in Full ~~(1)~~0 6.~~250~~000% 360 410 1 ~~0019967231~~0019771401 Loan Paid in Full 0 65.~~000~~750% 360 46 1 ~~0030167696~~0019893528 Loan Paid in Full 0 5.~~375~~250% 360 56 1 ~~0030281554~~0019955749 Loan Paid in Full ~~(1)~~0 56.~~750~~500% 360 46 1 ~~0030363410~~0030303358 Loan Paid in Full 0 65.375% 360 46 1 ~~0030419014~~0030317432 Loan Paid in Full 0 5.~~750~~375% 360 46 1 ~~0030437446~~0030346613 Loan Paid in Full 0 5.~~875~~750% 360 46 1 ~~0030455083~~0030347397 Loan Paid in Full 0 65.~~500~~875% 360 46 1 ~~0030457113~~0030407050 Loan Paid in Full 0 65.~~375~~500% 360 46 1 ~~0035046630~~0035065648 Loan Paid in Full 0 56.750% 360 46 1 ~~0115593485~~0115592099 Loan Paid in Full 0 5.~~875~~750% 360 58 1 ~~0400569166~~0115593121 Loan Paid in Full ~~(1)~~0 45.~~625~~375% 360 147 21 ~~0017169079~~0115593923 Loan Paid in Full 0 5.~~250~~125% 360 196 2 ~~0019755743~~0018843060 Loan Paid in Full 0 65.~~250~~875% 360 49 2 ~~0030080436~~0030422968 Loan Paid in Full 0(1) 5.~~625~~875% 360 56 2 ~~0030318752~~0030428809 Loan Paid in Full 0 6.~~750~~250% 360 46 2 ~~0030434534~~0035186147 Loan Paid in Full 0 56.~~375~~750% 360 46 3 ~~0018438390~~0017251158 Loan Paid in Full 0 ~~4.750% 360 9 3 0019928142 Loan Paid in Full (1)~~ 5.~~250~~500% 360 420 3 ~~0019969930~~0017411968 Loan Paid in Full 0 54.~~500~~750% 360 418 3 ~~0030074926~~0019835016 Loan Paid in Full (1) 5.~~625~~500% 360 ~~5 3 0030344139 Loan Paid in Full 0~~ 6~~.375%~~ ~~360 4~~ 3 ~~0030379374~~0019835123 Loan Paid in Full (1) 6.~~750~~375% 360 46 3 ~~0035067560~~0030302046 Loan Paid in Full 0 75.~~000~~750% 360 46 3 ~~0115592495~~0030474837 Loan Paid in Full 03 56.625% 360 6 3 ~~0400564837~~0115592552 Loan Paid in Full 0 5.~~125~~500% 360 148 4 ~~0030245245~~0030260475 Loan Paid in Full (1) 5.~~500% 360 5 4 0030249452 Loan Paid in Full 0 5.~~875% 360 46 4 ~~0030414338~~0115128027 Loan Paid in Full 0 ~~6.000% 360 4~~ 5 ~~0030427157 Loan Paid in Full (1) 7~~.~~125~~250% 360 48 5 ~~0035038926~~0019091016 Loan Paid in Full 0 5.~~625~~375% 360 49

Prepayment - Voluntary Prepayments

Summary SMM CPR PSA Current Month 2.~~786~~640% Current Month 2827.~~755~~463% Current Month 21,~~808~~932.~~398~~453% 3 Month Average 12.~~961~~324% 3 Month Average 2024.~~965~~428% 3 Month Average 2,~~520~~045.~~242~~788% 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 21.113% N/A May-2005 4,952.754% N/A Jun-2005 15.413% N/A Jun-2005 2,470.388% N/A Jul-2005 18.727% N/A Jul-2005 2,281.939% N/A Aug-2005 28.755% N/A Aug-2005 2,808.398% N/A Sep-2005 17.067% N/A Sep-2005 1,396.514% N/A Oct-2005 27.463% N/A Oct-2005 1,932.453% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 1 SMM CPR PSA Current Month 3.~~479~~344% Current Month 3433.~~619~~515% Current Month 32,~~881~~595.~~871~~897% 3 Month Average 2.~~581~~661% 3 Month Average 2627.~~630~~065% 3 Month Average 32,~~828~~557.~~440~~783% 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 21.831% N/A May-2005 7,509.064% N/A Jun-2005 17.590% N/A Jun-2005 3,594.073% N/A Jul-2005 27.682% N/A Jul-2005 4,009.375% N/A Aug-2005 34.619% N/A Aug-2005 3,881.871% N/A Sep-2005 13.060% N/A Sep-2005 1,195.582% N/A Oct-2005 33.515% N/A Oct-2005 2,595.897% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 2 SMM CPR PSA Current Month 1.~~547~~811% Current Month 1719.~~060~~693% Current Month 1,~~524~~294.~~352~~328% 3 Month Average 01.~~874~~742% 3 Month Average 919.~~822~~006% 3 Month Average ~~986~~1,452.~~890~~043% 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 7.324% N/A May-2005 1,418.440% N/A Jun-2005 2.846% N/A Jun-2005 396.894% N/A Jul-2005 9.561% N/A Jul-2005 1,039.424% N/A Aug-2005 17.060% N/A Aug-2005 1,524.352% N/A Sep-2005 20.266% N/A Sep-2005 1,537.449% N/A Oct-2005 19.693% N/A Oct-2005 1,294.328% 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. 3 SMM CPR PSA Current Month 32.~~019~~479% Current Month 3026.~~776~~005% Current Month 21,~~783~~738.~~314~~935% 3 Month Average 2.~~029~~398% 3 Month Average 2125.~~516~~118% 3 Month Average 21,~~364~~983.~~573~~913% 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 31.412% N/A May-2005 6,005.446% N/A Jun-2005 19.604% N/A Jun-2005 2,737.819% N/A Jul-2005 14.167% N/A Jul-2005 1,572.586% N/A Aug-2005 30.776% N/A Aug-2005 2,783.314% N/A Sep-2005 18.572% N/A Sep-2005 1,429.490% N/A Oct-2005 26.005% N/A Oct-2005 1,738.935% 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. 4 SMM CPR PSA Current Month 1.~~574~~904% Current Month 1720.~~333~~596% Current Month 1,~~442~~276.~~613~~101% 3 Month Average 02.~~914~~107% 3 Month Average 1022.~~175~~396% 3 Month Average 1,~~030~~596.~~021~~792% 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 0.291% N/A May-2005 49.186% N/A Jun-2005 12.812% N/A Jun-2005 1,609.192% N/A Jul-2005 0.381% N/A Jul-2005 38.258% N/A Aug-2005 17.333% N/A Aug-2005 1,442.613% N/A Sep-2005 29.259% N/A Sep-2005 2,071.663% N/A Oct-2005 20.596% N/A Oct-2005 1,276.101% 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. 5 SMM CPR PSA Current Month 1.~~013~~701% Current Month 1118.~~496~~608% Current Month 1,~~301~~459.~~357~~934% 3 Month Average 10.~~267~~912% 3 Month Average 1310.~~440~~128% 3 Month Average ~~1,845~~929.~~573~~017% 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 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 0.088% N/A May-2005 31.382% N/A Jun-2005 0.207% N/A Jun-2005 43.088% N/A Jul-2005 28.616% N/A Jul-2005 4,192.275% N/A Aug-2005 11.496% N/A Aug-2005 1,301.357% N/A Sep-2005 0.279% N/A Sep-2005 25.758% N/A Oct-2005 18.608% N/A Oct-2005 1,459.934% 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~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-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~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 1 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Sep~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-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~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. 2 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Sep~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-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~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-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. 3 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~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-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~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-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. 4 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~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-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~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-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. 5 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~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-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~~Nov-2004 N/A N/A ~~Sep~~Nov-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Oct~~Dec-2004 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Jan-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Feb-~~2004~~2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Jan~~Mar-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Feb~~Apr-2005 N/A N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~May-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~Apr~~Jun-2005 ~~N/A~~0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~May~~Jul-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jun~~Aug-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Jul~~Sep-2005 0.000% N/A ~~Aug~~Oct-2005 0.000% N/A ~~Aug~~Oct-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 · LEHMAN SARM 2005-11