8-K 1 ace05sn1_8k-200512.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): December 27, 2005 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-SN1 (Exact name of registrant as specified in its charter) New York (governing law of 333-119047-08 Pooling and Servicing Agreement) (Commission 54-2169419 (State or other File Number) 54-2169420 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On December 27, 2005 a distribution was made to holders of ACE SECURITIES CORP . HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2005-SN1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-SN1 Trust, relating to the December 27, 2005 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-SN1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 12/31/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-SN1 Trust, relating to the December 27, 2005 distribution. EX-99.1 ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 11/30/2005 Distribution Date: 12/27/2005 ACE Securities Corporation Asset Backed Pass-Through Certificates Series ACE 2005-SN1 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

ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 8/31/2005 Distribution Date: 9/26/2005 ACE Securities Corporation Asset Backed Pass-Through Certificates Series ACE 2005-SN1 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~~Class CUSIP Certificate Beginning ~~Class~~Interest Pass-Through Certificate ~~Interest~~Distribution ~~Class CUSIP Description~~ Rate Balance ~~Distribution~~ A-1 004421MQ3 ~~SEN~~ 4.25000% 7465,~~714~~198,~~202~~567.7081 ~~264~~230,~~612~~911.8059 A-2 004421MV2 ~~SEN~~ 5.23000% 58,680,000.00 255,747.00 M-1 004421MR1 ~~MEZ~~ 5.52000% 4,543,000.00 20,897.80 M-2 004421MS9 ~~MEZ~~ 5.77000% 2,478,000.00 11,915.05 M-3 004421MT7 ~~MEZ~~ 6.00000% 1,239,000.00 6,195.00 M-4 004421MU4 ~~MEZ~~ 6.00000% 1,239,000.00 6,195.00 CE-1 A05SN1CE1 ~~SEN~~ 0.00000% 826,050.35 ~~259~~206,~~584~~728.1842 CE-2 A05SN1CE2 ~~SEN~~ 0.00000% 0.00 7,~~737~~175.5034 R ACE05SN1R ~~SEN~~ 0.00000% 0.00 0.00 Totals ~~143~~134,~~719~~203,~~253~~618.0516 ~~832~~745,~~884~~765.3320

Certificateholder Distribution Summary (continued) Class Principal Current Ending ~~Cumulative~~Total ~~Principal~~Cummulative Distribution Realized Certificate ~~Total~~Distribution Realized ~~Class Distribution~~ Loss Balance ~~Distribution~~ Losses A-1 32,~~096~~692,~~549~~069.6669 0.00 7162,~~617~~506,~~653~~498.0412 32,~~361~~922,~~162~~981.4628 0.00 A-2 0.00 0.00 58,680,000.00 255,747.00 0.00 M-1 0.00 0.00 4,543,000.00 20,897.80 0.00 M-2 0.00 0.00 2,478,000.00 11,915.05 0.00 M-3 0.00 0.00 1,239,000.00 6,195.00 0.00 M-4 0.00 0.00 1,239,000.00 6,195.00 0.00 CE-1 0.00 0.00 826,050.35 ~~259~~206,~~584~~728.1842 0.00 CE-2 0.00 0.00 0.00 7,~~737~~175.5034 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 32,~~096~~692,~~549~~069.6669 0.00 ~~140~~131,~~622~~511,~~703~~548.3947 3,~~929~~437,~~433~~834.9989 0.00 ~~All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.~~

Principal Distribution Statement Class Original Beginning Scheduled ~~Unscheduled~~UnScheduled Accretion Realized Face Certificate Principal Principal ~~Realized~~Loss ~~Class~~ Amount Balance Distribution Distribution ~~Accretion Loss (1)~~ A-1 97,031,000.00 7465,~~714~~198,~~202~~567.7081 0.00 32,~~096~~692,~~549~~069.6669 0.00 0.00 A-2 58,680,000.00 58,680,000.00 0.00 0.00 0.00 0.00 M-1 4,543,000.00 4,543,000.00 0.00 0.00 0.00 0.00 M-2 2,478,000.00 2,478,000.00 0.00 0.00 0.00 0.00 M-3 1,239,000.00 1,239,000.00 0.00 0.00 0.00 0.00 M-4 1,239,000.00 1,239,000.00 0.00 0.00 0.00 0.00 CE-1 69.19 826,050.35 0.00 0.00 0.00 0.00 CE-2 0.00 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 165,210,069.19 ~~143~~134,~~719~~203,~~253~~618.0516 0.00 32,~~096~~692,~~549~~069.6669 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) Class Total Ending Ending Total Principal Certificate Certificate Principal ~~Class~~ Reduction Balance Percentage Distribution A-1 32,~~096~~692,~~549~~069.6669 7162,~~617~~506,~~653~~498.0412 0.~~73809044~~644191 32,~~096~~692,~~549~~069.6669 A-2 0.00 58,680,000.00 1.~~00000000~~000000 0.00 M-1 0.00 4,543,000.00 1.~~00000000~~000000 0.00 M-2 0.00 2,478,000.00 1.~~00000000~~000000 0.00 M-3 0.00 1,239,000.00 1.~~00000000~~000000 0.00 M-4 0.00 1,239,000.00 1.~~00000000~~000000 0.00 CE-1 0.00 826,050.35 11,938.~~86905622~~869056 0.00 CE-2 0.00 0.00 0.~~00000000~~000000 0.00 R 0.00 0.00 0.~~00000000~~000000 0.00 Totals 32,~~096~~692,~~549~~069.6669 ~~140~~131,~~622~~511,~~703~~548.3947 0.~~85117514~~796026 32,~~096~~692,~~549~~069.6669

Principal Distribution Factors Statement Class Original Beginning Scheduled ~~Unscheduled~~UnScheduled Accretion Face Certificate Principal Principal ~~Class (2)~~ Amount Balance Distribution Distribution ~~Accretion~~ A-1 97,031,000.00 ~~770~~671.~~00342880~~935441 0.~~00000000~~000000 3127.~~91299337~~744429 0.~~00000000~~000000 A-2 58,680,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 M-1 4,543,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 M-2 2,478,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 M-3 1,239,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 M-4 1,239,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 CE-1 69.19 11938869.~~05622200~~056222 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 CE-2 0.00 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 R 0.00 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000 (2) All Classes are per $1,000 denomination~~000000

Principal Distribution Factors Statement (continued) Class Realized Total Ending Ending Total ~~Realized~~Loss Principal Certificate Certificate Principal ~~Class Loss (3)~~ Reduction Balance Percentage Distribution A-1 0.~~00000000~~000000 3127.~~91299337~~744429 ~~738~~644.~~09043543~~191012 0.~~73809044~~644191 3127.~~91299337~~744429 A-2 0.~~00000000~~000000 0.~~00000000~~000000 1,000.~~00000000~~000000 1.~~00000000~~000000 0.~~00000000~~000000 M-1 0.~~00000000~~000000 0.~~00000000~~000000 1,000.~~00000000~~000000 1.~~00000000~~000000 0.~~00000000~~000000 M-2 0.~~00000000~~000000 0.~~00000000~~000000 1,000.~~00000000~~000000 1.~~00000000~~000000 0.~~00000000~~000000 M-3 0.~~00000000~~000000 0.~~00000000~~000000 1,000.~~00000000~~000000 1.~~00000000~~000000 0.~~00000000~~000000 M-4 0.~~00000000~~000000 0.~~00000000~~000000 1,000.~~00000000~~000000 1.~~00000000~~000000 0.~~00000000~~000000 CE-1 0.~~00000000~~000000 0.~~00000000~~000000 11,938,869.~~05622200~~056222 11938.~~86905622~~869056 0.~~00000000~~000000 CE-2 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 R 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 ~~(3)~~All ~~Amount~~Classes ~~Does~~are ~~Not~~per ~~Include Excess Special Hazard~~$1,000 ~~Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.~~denomination

Interest Distribution Statement ~~Beginning~~Class ~~Payment~~Accrual ofAccrual ~~Original~~ Current ~~Certificate/~~Beginning Current ~~Unpaid~~Payment ~~Current~~of ~~Face~~Dates Days Certificate ~~Notional~~Certificate/ Accrued ~~Interest~~Unpaid Interest ~~Class Amount~~ Rate Notional Balance Interest Shortfall ~~Shortfall~~ A-1 ~~97,031,000.00~~11/01/05 - 11/30/05 30 4.25000% 7465,~~714~~198,~~202~~567.7081 ~~264~~230,~~612~~911.8059 0.00 ~~0.00~~ A-2 ~~58,680,000.00~~11/01/05 - 11/30/05 30 5.23000% 58,680,000.00 255,747.00 0.00 ~~0.00~~ M-1 ~~4,543,000.00~~11/01/05 - 11/30/05 30 5.52000% 4,543,000.00 20,897.80 0.00 ~~0.00~~ M-2 ~~2,478,000.00~~11/01/05 - 11/30/05 30 5.77000% 2,478,000.00 11,915.05 0.00 ~~0.00~~ M-3 ~~1,239,000.00~~11/01/05 - 11/30/05 30 6.00000% 1,239,000.00 6,195.00 0.00 ~~0.00~~ M-4 ~~1,239,000.00~~11/01/05 - 11/30/05 30 6.00000% 1,239,000.00 6,195.00 0.00 ~~0.00~~ CE-1 ~~69.19~~N/A N/A 0.00000% 826,050.35 0.00 0.00 ~~0.00~~ CE-2 ~~0.00~~N/A N/A 0.00000% 0.00 0.00 0.00 ~~0.00~~ R ~~0.00~~N/A N/A 0.00000% 0.00 0.00 0.00 ~~0.00~~ Totals ~~165~~531,~~210,069~~861.1944 ~~565,562.65~~ 0.00 ~~0.00~~

Interest Distribution Statement (continued) ~~Remaining~~Class ~~Ending~~Current Non-Supported Total ~~Unpaid~~Remaining ~~Certificate/~~Ending Interest ~~Realized~~Interest Interest Unpaid Interest Certificate/Notional ~~Class~~ Shortfall ~~Losses~~ (41) Shortfall Distribution Shortfall(2) Balance A-1 0.00 0.00 ~~264~~230,~~612~~911.8059 0.00 7162,~~617~~506,~~653~~498.0412 A-2 0.00 0.00 255,747.00 0.00 58,680,000.00 M-1 0.00 0.00 20,897.80 0.00 4,543,000.00 M-2 0.00 0.00 11,915.05 0.00 2,478,000.00 M-3 0.00 0.00 6,195.00 0.00 1,239,000.00 M-4 0.00 0.00 6,195.00 0.00 1,239,000.00 CE-1 0.00 0.00 ~~259~~206,~~584~~728.1842 0.00 826,050.35 CE-2 0.00 0.00 7,~~737~~175.5034 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~832~~745,~~884~~765.3320 0.00 (41,2) Amount ~~Does~~also ~~Not~~includes ~~Include~~coupon ~~Excess~~cap ~~Special Hazard, Bankruptcy,~~ or ~~Fraud~~basis ~~Losses~~risk ~~Unless~~shortfalls,if ~~Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.~~applicable

Interest Distribution Factors Statement ~~Beginning~~Class ~~Payment~~Accrual of Original Current ~~Certificate/~~Beginning Current ~~Unpaid~~Payment ~~Current~~of Dates Face Certificate Certificate/Notional Accrued ~~Interest~~Unpaid Interest ~~Class (5)~~ Amount Rate Balance Interest Shortfall ~~Shortfall~~ A-1 11/01/05 - 11/30/05 97,031,000.00 4.25000% ~~770~~671.~~00342880~~935441 2.~~72709546~~379771 0.~~00000000~~000000 ~~0.00000000~~ A-2 11/01/05 - 11/30/05 58,680,000.00 5.23000% 1000.~~00000000~~000000 4.~~35833333~~358333 0.~~00000000~~000000 ~~0.00000000~~ M-1 11/01/05 - 11/30/05 4,543,000.00 5.52000% 1000.~~00000000~~000000 4.~~60000000~~600000 0.~~00000000~~000000 ~~0.00000000~~ M-2 11/01/05 - 11/30/05 2,478,000.00 5.77000% 1000.~~00000000~~000000 4.~~80833333~~808333 0.~~00000000~~000000 ~~0.00000000~~ M-3 11/01/05 - 11/30/05 1,239,000.00 6.00000% 1000.~~00000000~~000000 5.~~00000000~~000000 0.~~00000000~~000000 ~~0.00000000~~ M-4 11/01/05 - 11/30/05 1,239,000.00 6.00000% 1000.~~00000000~~000000 5.~~00000000~~000000 0.~~00000000~~000000 ~~0.00000000~~ CE-1 N/A 69.19 0.00000% 11938869.~~05622200~~056222 0.~~00000000~~000000 0.~~00000000~~000000 ~~0.00000000~~ CE-2 N/A 0.00 0.00000% 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 ~~0.00000000~~ R N/A 0.00 0.00000% 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000 0.00000000 (5) All Classes are per $1,000 denomination.~~000000

Interest Distribution Factors Statement (continued) ~~Remaining~~Class ~~Ending~~Current Non-Supported Total Remaining Unpaid ~~Certificate/~~Ending Interest ~~Realized~~Interest Interest Interest ~~Notional~~Certificate/ ~~Class~~ Shortfall ~~Losses~~ (61) Shortfall Distribution Shortfall(2) Notional Balance A-1 0.~~00000000~~000000 0.~~00000000~~000000 2.~~72709546~~379771 0.~~00000000~~000000 ~~738~~644.~~09043543~~191012 A-2 0.~~00000000~~000000 0.~~00000000~~000000 4.~~35833333~~358333 0.~~00000000~~000000 1000.~~00000000~~000000 M-1 0.~~00000000~~000000 0.~~00000000~~000000 4.~~60000000~~600000 0.~~00000000~~000000 1000.~~00000000~~000000 M-2 0.~~00000000~~000000 0.~~00000000~~000000 4.~~80833333~~808333 0.~~00000000~~000000 1000.~~00000000~~000000 M-3 0.~~00000000~~000000 0.~~00000000~~000000 5.~~00000000~~000000 0.~~00000000~~000000 1000.~~00000000~~000000 M-4 0.~~00000000~~000000 0.~~00000000~~000000 5.~~00000000~~000000 0.~~00000000~~000000 1000.~~00000000~~000000 CE-1 0.~~00000000~~000000 0.~~00000000~~000000 ~~3751758~~2987836.~~63564099~~681601 0.~~00000000~~000000 11938869.~~05622200~~056222 CE-2 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 R 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 (61,2) Amount ~~Does~~also ~~Not~~includes ~~Include~~coupon ~~Excess~~cap ~~Special Hazard, Bankruptcy,~~or ~~Fraud~~basis ~~Losses~~risk ~~Unless~~shortfalls,if ~~Otherwise Disclosed~~applicable. ~~Please~~All ~~Refer~~Classes toare ~~the~~per ~~Prospectus~~$1,000 ~~Supplement for a Full Description~~denomination.

~~CERTIFICATEHOLDER~~Certificateholder ~~ACCOUNT~~Component ~~STATEMENT~~Statement ~~CERTIFICATE~~Component ~~ACCOUNT~~ Beginning ~~Balance~~Ending ~~0.00~~Beginning ~~Deposits~~Ending ~~Payments~~Ending ofPass-Through ~~Interest~~Notional ~~and~~Notional ~~Principal~~Component ~~3,988,519.29~~Component ~~Liquidations,~~Component ~~Insurance~~Class ~~Proceeds,~~Rate ~~Reserve~~Balance ~~Funds~~Balance ~~0.00~~Balance Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 73,546.91 Realized Loss (Gains, Subsequent Expenses & Recoveries) 311.94 Prepayment Penalties 0.00 Total Deposits 4,062,378.14 Withdrawals Reimbursement for Servicer Advances 71,545.77 Payment of Service Fee 61,398.38 Payment of Interest and Principal 3,929,433.99 Total Withdrawals (Pool Distribution Amount) 4,062,378.14 Ending Balance ~~0.00~~Percentage

~~SERVICING~~ADMINISTRATION FEES Gross Servicing Fee* 4845,~~822~~785.9529 Credit Risk Manager Fee- Risk Management Group, LLC 2,~~994~~795.1591 Master Servicing Fee 98,~~581~~946.2891 Supported Prepayment/Curtailment Interest Shortfall 0.00 ~~Net~~Total ~~Servicing~~Administration ~~Fee~~Fees 6157,~~398~~528.3811 *Servicer Payees include: OCWEN FEDERAL BANK FSB; WASHINGTON MUTUAL MTG SEC CORP

~~OTHER~~Reserve ~~ACCOUNTS~~Accounts Account Name Beginning Current Withdrawals Current Deposits Ending ~~Account Type~~ Balance ~~Withdrawals Deposits~~ Balance ~~Financial~~Reserve ~~Guaranty~~Fund 01,000.00 0.00 0.00 ~~0.00 Reserve Fund~~ 1,000.00 OTHER ACCOUNTS Account Name Funds In (A) Funds Out(B) Net Amount(A - B) Financial Guaranty 0.00 0.00 ~~1,000~~0.00

~~LOAN~~COLLATERAL ~~STATUS~~STATEMENT ~~STRATIFICATION/CREDIT~~Collateral ~~ENHANCEMENT~~Description ~~STATEMENT~~Mixed ~~DELINQUENT~~Fixed ~~BANKRUPTCY~~& ~~FORECLOSURE~~Arm ~~REO~~Weighted ~~Total~~Average NoGross ofCoupon ~~Loans~~7.389001% NoWeighted ofAverage ~~Loans~~Net NoCoupon of6.979606% ~~Loans~~Weighted NoAverage ofPass-Through ~~Loans~~Rate No6.874606% ofWeighted ~~Loans~~Average ~~Principal~~Remaining ~~Balance~~Term ~~Principal~~261 ~~Balance~~Beginning ~~Principal~~Scheduled ~~Balance~~Collateral ~~Principal~~Loan ~~Balance~~Count ~~Principal~~1,523 ~~Balance~~Number ~~0-29~~Of ~~Days~~Loans 8Paid 0In 0Full 834 ~~417,482.90~~Ending ~~0.00~~Scheduled ~~0.00~~Collateral ~~417,482.90~~Loan 30Count ~~Days~~1,489 77Beginning 5Scheduled 0Collateral 0Balance ~~82 5~~134,~~065~~203,~~569~~618.9116 ~~222,440.37~~Ending ~~0.00~~Scheduled ~~0.00~~Collateral 5Balance 131,~~288~~511,~~010~~548.2847 60Ending ~~Days~~Actual 27Collateral 1Balance 0at 030-Nov-2005 ~~28 1~~131,~~638~~717,~~052~~703.4184 ~~45,232.15~~Monthly ~~0.00~~P&I ~~0.00~~Constant 1,~~683~~135,~~284~~203.5635 90Special ~~Days~~Servicing 6Fee ~~1 2~~ 0 ~~9 246,925~~.~~34 35,659.78 192,903.05 0.~~00 ~~475,488.17~~Prepayment ~~120~~Penalty ~~Days~~Waived 8Amount ~~3 1~~ 0 ~~12 519,325~~.~~95 92,317.89 75,933.07 0.~~00 ~~687,576.91~~Prepayment ~~150~~Penalty ~~Days~~Waived 3Count 0 1Prepayment 0Penalty 4Paid ~~98,420.68~~Amount 0.00 ~~33,060.64~~Prepayment ~~0.00~~Penalty ~~131,481.32~~Paid ~~180+~~Count ~~Days 3~~ 0 3Realized 0Loss 6Amount 6422,~~233~~585.2334 ~~0.00~~Cumulative ~~245,581.07~~Realized ~~0.00~~Loss ~~309~~28,~~814~~292.3070 ~~Totals~~Scheduled ~~124~~Principal ~~18 7 0 149 7~~308,~~632,527~~844.5242 ~~813,133.09~~Unscheduled ~~547,477.83~~Principal ~~0.00 8~~2,~~993~~383,~~138~~225.4427 NoRequired ofOvercollateralized ~~Loans~~Amount ~~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~~.~~505051%~~00 ~~0.000000%~~Overcollateralized ~~0.000000%~~Increase ~~0.505051%~~Amount 022,585.~~296475%~~34 ~~0.000000%~~Overcollateralized ~~0.000000%~~Reduction ~~0.296475%~~Amount ~~30 Days 4.861111%~~ 0.~~315657%~~00 ~~0.000000%~~Specified ~~0.000000%~~O/C ~~5.176768%~~Amount 3826,050.~~597305%~~35 ~~0.157966%~~Overcollateralized ~~0.000000%~~Amount 0826,050.~~000000%~~35 ~~3.755271%~~Overcollateralized 60Deficiency ~~Days~~Amount ~~1.704545%~~ 0.~~063131%~~00 ~~0.000000%~~Base ~~0.000000%~~Overcollateralization ~~1.767677%~~Amount ~~1.163260%~~ 0.~~032122%~~00 ~~0.000000%~~Extra ~~0.000000%~~principal ~~1.195382%~~distribution 90Amount ~~Days 0~~22,585.~~378788%~~34 ~~0.063131%~~Excess ~~0.126263%~~Cash ~~0.000000%~~Amount 0.568182% 0.175354% 0.025324% 0.136990% 0.000000% 0.337667% 120 Days 0.505051% 0.189394% 0.063131% 0.000000% 0.757576% 0.368798% 0.065559% 0.053924% 0.000000% 0.488282% 150 Days 0.189394% 0.000000% 0.063131% 0.000000% 0.252525% 0.069893% 0.000000% 0.023478% 0.000000% 0.093371% 180+ Days 0.189394% 0.000000% 0.189394% 0.000000% 0.378788% 0.045615% 0.000000% 0.174399% 0.000000% 0.220014% Totals 7.828283% 1.136364% 0.441919% 0.000000% 9.406566% 5.420226% 0.577445% 0.388790% 0.000000% 6.386461%00

~~OTHER~~COLLATERAL ~~INFORMATION~~STATEMENT ~~Current~~Collateral ~~Period~~Description ~~Class~~Mixed AFixed ~~Insufficient~~& ~~Funds~~Arm 0Weighted Average Coupon Rate 7.00389001% Weighted Average Net Rate 6.979606% Weighted Average Pass Through Rate 6.874606% Weighted Average Remaining Term 261 Record Date 11/30/2005 Principal and Interest Constant 1,135,203.35 Beginning Loan Count 1,523 Loans Paid in Full 34 Ending Loan Count 1,489 Beginning Scheduled Balance of134,203,618.16 ~~Contaminated~~Ending ~~Properties~~Scheduled Balance 131,511,548.47 Ending Actual Balance at 30-Nov-2005 131,717,703.84 Scheduled Principal 308,844.42 Unscheduled Principal 2,383,225.27 Scheduled Interest 826,358.93 Servicing Fee 45,785.29 Master Servicing Fee 8,946.91 Trustee Fee 0.00 ~~Periodic~~FRY ~~Advance~~Amount 730.00 Special Hazard Fee 0.00 Other Fee 2,~~546~~795.91 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 768,830.82 Realized Loss Amount 22,585.34 Cumulative Realized Loss 28,292.70 Percentage of Cumulative Losses 0.0171 Special Servicing Fee 0.00 Prepayment Penalty Waived Amount 0.00 Prepayment Penalty Waived Count 0 Prepayment Penalty Paid Amount 0.00 Prepayment Penalty Paid Count 0 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 22,585.34 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 826,050.35 Overcollateralized Amount 826,050.35 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00

~~Summary~~Additional 12Reporting ~~Month~~- ~~REO~~Deal History*Level ~~New~~Miscellaneous ~~REO~~Reporting ~~Loans~~Overcollateralization ~~Month~~Amount ~~REO Percentage Loans in REO 0 Oct-04 0~~826,050.~~000%~~35 ~~Original~~Overcollateralization ~~Principal~~Increase ~~Balance~~Amount 022,585.0034 ~~Nov-04~~Overcollateralization ~~0.000%~~Reduction ~~Current~~Amount ~~Principal Balance~~ 0.00 ~~Dec-04~~Overcollateralization ~~0.000%~~Target ~~Jan-05~~Amount 0826,050.~~000%~~35 ~~Current~~Ocwen ~~REO Total Feb-05~~ 0.~~000% Loans in REO 0 Mar-05 0.000% Original Principal Balance 0.~~00 ~~Apr-05~~Ocwen ~~0.000%~~Servicing ~~Current~~Fee ~~Principal Balance~~ 0.00 ~~May-05~~Specified ~~0.000%~~Overcollateralization ~~Jun-05~~Amount 0826,050.~~000%~~35 ~~Jul-05~~Ocwen ~~0.000%~~Service ~~Aug-05~~Fee ~~0.000%~~Strip ~~Sep-05 0~~7175.~~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.~~34

REO Detail - All Mortgage Loans in REO during Current Period

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Summary 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 49 ~~Oct~~Jan-0405 0.000% Original Principal Balance ~~318~~1,~~051~~149,727.00 ~~Nov~~Feb-0405 0.000% Current Principal Balance ~~301~~1,~~896~~040,293.7649 ~~Dec~~Mar-0405 0.000% ~~Jan~~Apr-05 0.000% Current Foreclosure Total ~~Feb~~May-05 0.000% Loans in Foreclosure 710 ~~Mar~~Jun-05 0.000% Original Principal Balance ~~569~~1,~~665~~221,679.00 ~~Apr~~Jul-05 0.000% Current Principal Balance ~~547~~1,~~477~~117,048.8370 ~~May~~Aug-05 0.~~000~~316% ~~Jun~~Sep-05 0.~~000~~389% ~~Jul~~Oct-05 0.~~000~~342% ~~Aug~~Nov-05 0.~~316~~391% ~~Sep~~Dec-05 0.~~389~~848% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance Summary ~~0000367881~~0000260161 ~~Sep~~Dec-2005 1801-~~Nov~~Jan-~~2000~~1999 OHCA 9080.00 240,000.00 Summary 0000260452 Dec-2005 29-Dec-1993 FL 65.85 27,000.00 Summary 0000260615 Dec-2005 01-Mar-1994 MN 68.97 ~~129~~240,~~678~~000.00 Summary ~~0000367997~~0000260733 ~~Sep~~Dec-2005 01-~~Jul~~Jan-~~2000~~1990 INNJ 7975.8200 6678,~~248~~000.00 Summary ~~0000368252~~0000368263 ~~Aug~~Dec-2005 1510-~~Jun~~Nov-~~1998~~1997 IN 8694.6114 ~~118~~77,~~650~~192.00 Summary ~~0000368461~~0000368460 ~~Aug~~Dec-2005 1301-~~May~~Aug-1999 PA 9693.0896 6178,~~012~~459.00 Summary ~~0000368666~~0000368754 ~~Sep~~Dec-2005 01-~~Nov~~Jan-~~1999~~2000 KYVA 9078.9072 7862,~~171~~977.00 Summary ~~0000369035~~0000369322 ~~Sep~~Dec-2005 0509-~~Aug~~Nov-~~1999~~1996 OH 9581.5500 4340,~~954~~499.00 Summary 0000369422 Jul-2005 05-Jan-1999 OH 89.94 71,952.00 Summary 0000417430 Dec-2005 01-Jun-1999 VA 74.84 305,600.00

Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest Summary ~~0000367881~~0000260161 ~~127~~223,~~916~~903.2857 1801-~~Apr~~Mar-2005 37 107.~~610~~875% 512,~~466~~569.8047 Summary ~~0000367997~~0000260452 6417,~~986~~778.48 28-Apr-2005 6 8.750% 979.77 Summary 0000260615 199,768.05 01-~~Apr~~May-2005 35 127.250% 37,~~221~~984.4573 Summary ~~0000368252~~0000260733 ~~113~~57,~~778~~850.4774 1501-~~Dec~~Mar-~~2004~~2005 7 109.~~000~~625% 63,~~399~~966.6954 Summary ~~0000368461~~0000368263 5576,~~047~~186.3969 1310-~~Jan~~May-2005 65 117.~~500~~250% 3,~~578~~055.3097 Summary ~~0000368666~~0000368460 7576,~~933~~993.0766 01-~~Mar~~Aug-2005 42 116.999% 1,702.16 Summary 0000368754 62,332.78 01-Jul-2005 3 9.000% 42,~~042~~237.9359 Summary ~~0000369035~~0000369322 3347,~~060~~008.6488 0509-~~Feb~~Jun-2005 54 1210.000% 2,~~246~~265.1647 Summary 0000369422 76,755.21 05-Dec-2004 710 7.500% 24,~~732~~093.7596 Summary 0000417430 278,470.64 01-May-2005 5 7.250% 11,240.24

Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period

~~COLLATERAL~~Summary ~~STATEMENT~~12 ~~Collateral~~Month ~~Description~~Bankruptcy ~~Mixed~~History* ~~Fixed~~New &Bankruptcy ~~Arm~~Loans ~~Weighted~~Month ~~Average~~Bankruptcy ~~Gross~~Percentage ~~Coupon~~Loans ~~7.442787%~~in ~~Weighted~~Bankruptcy ~~Average~~13 ~~Net~~Jan-05 ~~Coupon 7~~0.~~035134~~000% ~~Weighted~~Original ~~Average~~Principal ~~Pass-Through~~Balance ~~Rate~~1,124,517.00 6Feb-05 0.~~930134~~000% ~~Weighted~~Current ~~Average~~Principal ~~Maturity(Stepdown~~Balance ~~Calculation) 261 Beginning Scheduled Collateral Loan Count~~ 1,~~622~~005,744.27 ~~Number~~Mar-05 Of0.000% ~~Loans~~Apr-05 ~~Paid~~0.000% InCurrent ~~Full~~Bankruptcy 38Total ~~Ending~~May-05 ~~Scheduled~~0.045% ~~Collateral~~Loans ~~Loan~~in ~~Count~~Bankruptcy ~~1,584~~17 ~~Beginning~~Jun-05 ~~Scheduled Collateral Balance 143,719,253~~0.05046% ~~Ending~~Original ~~Scheduled~~Principal ~~Collateral~~ Balance ~~140~~1,~~622~~477,~~703~~288.3900 ~~Ending Actual Collateral Balance at 31~~Jul-~~Aug-2005~~05 ~~140,815,673~~0.39048% ~~Monthly~~Current ~~P&I~~Principal ~~Constant~~Balance 1,~~218~~345,~~727~~516.6692 ~~Special~~Aug-05 ~~Servicing Fee~~ 0.00464% ~~Prepayment~~Sep-05 ~~Penalties~~ 0.00577% ~~Realized~~Oct-05 ~~Loss Amount (311~~0.~~94)~~719% ~~Cumulative~~Nov-05 ~~Realized Loss 5,707~~0.36660% ~~Scheduled~~Dec-05 ~~Principal 327,334~~1.49022% ~~Unscheduled~~*The ~~Principal~~text ~~2,769,215.17~~reported ~~Required~~in ~~Overcollateralization~~the ~~Amount~~above ~~0.00~~table ~~Overcollateralized~~is ~~Increase~~presented ~~Amount~~graphically ~~0.00~~on ~~Overcollateralized~~the ~~reduction~~monthly ~~Amount~~bond ~~311.94~~remittance ~~Specified O/C Amount 826,050~~report.35 ~~Overcollateralized~~The ~~Amount~~monthly ~~826,050.35~~bond ~~Overcollateralized~~remittance ~~Deficiency~~report ~~Amount~~can ~~0.00~~be ~~Base~~viewed ~~Overcollateralized~~online ~~Amount~~at 0www.00ctslink.com.

~~COLLATERAL~~Bankruptcy ~~STATEMENT~~Detail ~~Collateral~~- ~~Description~~All ~~Mixed~~Mortgage ~~Fixed~~Loans &in ~~Arm~~Bankruptcy ~~Weighted~~during ~~Average~~Current ~~Coupon~~Period ~~Rate~~Group ~~7.442787%~~Loan ~~Weighted~~Month ~~Average~~Loan ~~Net~~First ~~Rate~~State ~~7.035134%~~LTV ~~Weighted~~at ~~Average~~Original ~~Pass~~Number ~~Through~~Entered ~~Rate~~Payment ~~6.930134%~~Origination ~~Weighted~~Principal ~~Average~~Bankruptcy ~~Maturity~~Date ~~261~~Balance ~~Record~~Summary ~~Date~~0000260415 ~~08/31/~~Dec-2005 ~~Principal~~13-Jul-1995 ~~and~~DC ~~Interest~~80.00 ~~Constant 1~~68,~~218,727~~400.6600 ~~Beginning~~Summary ~~Loan~~0000260441 ~~Count~~Dec-2005 ~~1,622~~01-Mar-1994 ~~Loans~~NC ~~Paid~~85.00 in73,950.00 ~~Full~~Summary 380000260628 ~~Ending~~Dec-2005 ~~Loan~~01-Dec-1993 ~~Count~~MD 189.98 276,~~584~~000.00 ~~Beginning~~Summary ~~Scheduled~~0000367640 ~~Balance~~Dec-2005 ~~143,719,253.05~~20-Mar-1999 ~~Ending~~KS ~~Scheduled~~90.46 ~~Balance 140~~81,~~622,703~~415.3900 ~~Ending~~Summary ~~Actual~~0000367760 ~~Balance~~Jul-2005 ~~at 31~~08-~~Aug~~Jan-~~2005~~2001 ~~140,815,673~~PA 94.3981 ~~Scheduled Principal 327~~75,~~334~~845.4900 ~~Unscheduled~~Summary ~~Principal~~0000367794 ~~2,769,215.17~~Dec-2005 ~~Scheduled~~12-Jan-2001 ~~Interest~~KY ~~891,393~~90.1772 ~~Servicing Fee 48~~77,~~822~~112.9500 ~~Master~~Summary ~~Servicing~~0000367911 ~~Fee~~Dec-2005 ~~9,581.28~~01-Nov-2000 ~~Trustee~~VA ~~Fee~~91.04 092,406.00 ~~FRY~~Summary ~~Amount~~0000368006 ~~0.00~~Dec-2005 ~~Special~~02-Aug-2000 ~~Hazard~~PA ~~Fee 0~~100.00 ~~Other Fee 2~~14,~~994~~784.1500 ~~Pool~~Summary ~~Insurance~~0000368038 ~~Fee~~Dec-2005 ~~0.00~~05-Jul-2000 ~~Spread~~OH 190.44 058,785.00 ~~Spread~~Summary 20000368076 ~~0.00~~Jul-2005 ~~Spread~~03-Jul-2000 3OH 095.0032 ~~Net Interest 829~~97,~~994~~226.7900 ~~Realized~~Summary ~~Loss~~0000368103 ~~Amount~~Dec-2005 ~~(311.94)~~16-Jun-1999 ~~Cumulative~~IN ~~Realized~~94.46 ~~Loss 5~~68,~~707~~956.3600 ~~Percentage~~Summary of0000368294 ~~Cumulative~~Dec-2005 ~~Losses~~05-Jan-1998 0IN 92.~~0035~~31 ~~Special Servicing Fee 0~~129,240.00 ~~Prepayment~~Summary ~~Penalties~~0000368627 ~~0.00~~Dec-2005 ~~Required~~02-Sep-1999 ~~Overcollateralized~~KY ~~Amount~~95.72 072,744.00 ~~Overcollateralized~~Summary ~~Increase~~0000368968 ~~Amount~~Dec-2005 010-Jan-2000 OH 95.46 47,730.00 ~~Overcollateralized~~Summary ~~Reduction~~0000369787 ~~Amount~~Dec-2005 ~~311.94~~25-Aug-2000 ~~Specified~~IN ~~O/C~~96.92 ~~Amount 826~~62,~~050~~995.3500 ~~Overcollateralized~~Summary ~~Amount~~0000417258 ~~826,050.35~~Aug-2005 ~~Overcollateralized~~01-Jul-2004 ~~Deficiency~~MA ~~Amount~~76.25 0100,650.00 ~~Base~~Summary ~~Overcollateralization~~0000417484 ~~Amount~~May-2005 001-Dec-1998 NY 85.00 79,050.00

~~Miscellaneous~~Bankruptcy ~~Reporting~~Detail ~~Overcollateralization~~- ~~Amount~~All ~~826~~Mortgage Loans in Bankruptcy during Current Period (continued) Group Loan Current Paid To Months Current Approximate Number Principal Date Delinquent Loan Rate Delinquent Balance Interest Summary 0000260415 61,~~050~~773.3588 ~~Overcollateralization~~13-Nov-2005 ~~Increase~~0 ~~Amount~~9.990% 994.22 Summary 0000260441 44,523.12 01-Dec-2005 (1) 7.950% 284.27 Summary 0000260628 225,900.56 01-Aug-2005 2 6.875% 4,894.09 Summary 0000367640 81,632.63 01-May-2005 5 10.250% 4,701.78 Summary 0000367760 74,717.91 08-Nov-2005 0 7.00250% ~~Overcollateralization~~860.39 ~~Reduction~~Summary ~~Amount~~0000367794 ~~311~~76,039.9480 ~~Overcollateralization~~12-Nov-2005 ~~Target~~0 ~~Amount~~7.375% ~~826~~891.47 Summary 0000367911 87,~~050~~087.3541 ~~Ocwen~~01-Oct-2005 0 6.00375% ~~Ocwen~~872.60 ~~Servicing~~Summary ~~Fee~~0000368006 12,545.36 01-Nov-2005 0 10.00500% ~~Specified~~212.78 ~~Overcollateralization~~Summary ~~Amount~~0000368038 ~~826~~57,~~050~~854.3553 ~~Ocwen~~05-Sep-2005 ~~Service~~1 ~~Fee~~6.875% ~~Strip~~943.31 ~~7737~~Summary 0000368076 96,306.5061 03-Sep-2005 1 6.999% 1,600.13 Summary 0000368103 64,907.86 16-Mar-2005 7 8.500% 3,938.18 Summary 0000368294 125,366.28 05-Nov-2005 0 7.625% 1,522.76 Summary 0000368627 59,803.45 02-Mar-2005 7 6.500% 2,734.20 Summary 0000368968 45,750.55 10-Nov-2005 0 8.000% 583.77 Summary 0000369787 62,558.84 25-Jul-2005 3 6.875% 1,697.86 Summary 0000417258 98,835.32 01-Nov-2005 0 5.875% 927.10 Summary 0000417484 69,912.81 01-Oct-2005 0 8.250% 931.41

~~Prepayment~~Realized Loss Detail Report - ~~Prepayments~~Loans with Losses during Current Period Summary ~~Loans~~# ~~Paid In Full Repurchased~~ Loans ~~Original~~Prior ~~Current~~Realized ~~Original~~ Current ~~Principal~~with Principal ~~Principal~~Loss/(Gain) ~~Principal~~Loss Group ~~Count~~Losses Balance ~~Balance~~Amount ~~Count~~Percentage ~~Balance Balance~~ Total 381 397,~~293,398~~261.0060 222,~~727,404~~585.1834 0 0.~~00 0.00~~017%

~~Prepayment~~Realized ~~Detail~~Loss -Loan ~~Prepayments~~Detail ~~during~~Report ~~Current~~- ~~Period (continued) Summary Substitution~~ Loans ~~Liquidated~~With ~~Loans~~Losses ~~Curtailments~~during ~~Original~~ Current Period Original Current ~~Principal~~Loan Principal ~~Principal~~Note ~~Principal~~LTV ~~Curtailment~~at Original Group ~~Count~~Number Balance ~~Balance~~Rate ~~Count~~State ~~Balance~~Origination ~~Balance~~Term ~~Amount~~Summary ~~Total~~0000368923 ~~0 0~~102,113.00 010.00250% 0OH 095.0043 ~~0.00 49,319.17~~362

~~Prepayment~~Realized Loss Loan Detail Report - ~~Prepayments~~Loans With Losses during Current Period ~~First~~(continued) ~~Original~~Prior Cumulative Loan ~~LTV at Payment~~ Principal ~~Prepayment~~Realized Realized Group Number ~~State Origination Date~~ Balance ~~Amount~~Loss/(Gain) ~~Summary~~Loss/(Gain) ~~0000260723 NJ 80.00 01-Jul-1990 168,000.00 124,912.88~~ Summary ~~0000260736~~0000368923 ~~NJ 75.00 01-Jul-1989 131~~97,~~250~~261.0060 9422,~~070~~585.8434 Summary 0000367725 OH 45.27 04-Feb-2001 41,651.00 4,168.69 Summary 0000367814 FL 91.76 30-Nov-2000 78,000.00 75,559.26 Summary 0000367893 IN 95.77 15-Nov-2000 59,377.00 49,192.38 Summary 0000367900 FL 72.03 06-Nov-2000 46,817.00 43,804.47 Summary 0000367978 OH 85.68 05-Oct-2000 124,235.00 119,445.36 Summary 0000367981 OH 95.63 05-Oct-2000 65,987.00 65,033.73 Summary 0000368036 OH 100.00 06-Jul-2000 20,618.00 17,578.19 Summary 0000368057 PA 61.08 05-Jun-2000 36,039.00 31,193.36 Summary 0000368177 MI 95.70 05-Oct-1999 57,418.00 44,432.43 Summary 0000368296 IN 85.95 08-Sep-1997 103,138.00 69,466.44 Summary 0000368448 PA 67.40 02-Nov-1999 21,569.00 12,966.58 Summary 0000368527 KY 100.00 10-Feb-2000 6,814.00 4,221.12 Summary 0000368588 KY 85.14 05-Apr-1999 46,826.00 33,544.35 Summary 0000368604 KY 42.61 05-Mar-1998 21,303.00 5,917.64 Summary 0000368733 KS 100.00 05-May-1999 32,860.00 25,304.46 Summary 0000368763 VA 100.00 06-May-1999 38,667.00 28,403.44 Summary 0000368837 MI 70.33 15-Jun-1998 73,842.00 70,426.21 Summary 0000368944 OH 32.10 10-Sep-1998 29,209.00 19,948.40 Summary 0000369007 OH 100.00 05-Feb-1999 19,284.00 14,921.16 Summary 0000369033 OH 100.00 15-Sep-1999 35,942.00 28,342.24 Summary 0000369311 OH 100.00 20-Aug-1998 22,~~954~~585.00 14,459.08 Summary 0000369320 OH 88.08 08-Feb-1997 63,419.00 52,472.99 Summary 0000369331 OH 54.12 03-Oct-1999 40,587.00 32,882.52 Summary 0000369334 OH 100.00 09-Sep-1999 21,553.00 17,699.63 Summary 0000369451 OH 100.00 20-May-2000 29,572.00 17,769.27 Summary 0000369620 NC 100.00 10-Apr-2000 15,396.00 12,539.43 Summary 0000369675 KY 93.15 01-Jan-2001 76,845.00 74,184.45 Summary 0000369918 OH 90.40 01-Oct-1998 91,302.00 77,124.89 Summary 0000416948 NJ 95.00 01-Aug-2003 294,500.00 283,596.31 Summary 0000416954 CT 89.80 01-Oct-2004 229,000.00 226,464.64 Summary 0000416990 CA 93.55 01-Mar-2004 147,816.00 145,108.32 Summary 0000417002 NJ 89.90 01-Nov-2003 165,416.00 111,270.37 Summary 0000417282 TX 98.42 01-Jun-2002 94,192.00 89,078.21 Summary 0000417457 OR 72.16 01-Dec-1998 350,000.00 321,121.12 Summary 0000417469 FL 61.54 01-Jan-1999 336,000.00 223,822.19 Summary 0000417504 MD 70.00 01-Aug-1998 56,000.00 37,448.9534

~~Prepayment~~Realized ~~Loan~~Loss ~~Detail~~Report - ~~Prepayments~~Collateral ~~during~~Summary ~~Current~~MDR ~~Period~~SDA ~~(continued)~~ Current ~~Loan~~Month ~~PIF~~0.072% ~~Months~~Current ~~Loan~~Month ~~Original~~1.444% ~~Group~~3 ~~Number~~Month ~~Type~~Average ~~Delinquent~~0.024% ~~Rate~~3 ~~Term~~Month ~~Seasoning~~Average ~~Summary~~0.481% ~~0000260723~~12 ~~Loan~~Month ~~Paid~~Average in0.000% ~~Full~~12 1Month 10Average 0.~~375~~000% ~~360~~MDR: ~~182~~Current ~~Summary~~vs ~~0000260736~~12mo ~~Loan~~Average* ~~Paid~~SDA: inCurrent ~~Full~~vs 012mo 5Average* Month Current 12mo Avg.~~625%~~ ~~360~~Month ~~194~~Current ~~Summary~~12mo ~~0000367725~~Avg. ~~Loan~~Jan-2005 ~~Paid~~N/A inN/A ~~Full~~Jan-2005 0N/A ~~10.250%~~N/A 60Feb-2005 55N/A ~~Summary~~N/A ~~0000367814~~Feb-2005 ~~Loan~~N/A ~~Paid~~N/A inMar-2005 ~~Full~~N/A 3N/A 10Mar-2005 N/A N/A Apr-2005 0.~~750~~000% ~~360~~N/A 57Apr-2005 ~~Summary~~0.000% ~~0000367893~~N/A ~~Loan~~May-2005 ~~Paid~~0.029% inN/A ~~Full~~May-2005 0 10.~~250~~585% ~~180~~N/A 58Jun-2005 ~~Summary~~0.000% ~~0000367900~~N/A ~~Loan~~Jun-2005 ~~Paid~~0.000% inN/A ~~Full~~Jul-2005 0.000% 12N/A Jul-2005 0.~~750~~000% ~~240~~N/A 58Aug-2005 ~~Summary~~0.055% ~~0000367978~~N/A ~~Loan~~Aug-2005 ~~Paid~~1.089% inN/A ~~Full~~Sep-2005 0 12.~~990~~000% ~~360~~N/A 59Sep-2005 ~~Summary~~0.000% ~~0000367981~~N/A ~~Loan~~Oct-2005 ~~Paid~~0.000% inN/A ~~Full~~Oct-2005 0 10.~~500~~000% ~~360~~N/A 59Nov-2005 ~~Summary~~0.000% ~~0000368036~~N/A ~~Loan~~Nov-2005 ~~Paid~~0.000% inN/A ~~Full~~Dec-2005 0.072% 13N/A Dec-2005 1.~~740~~444% ~~180~~N/A 62*The ~~Summary~~text ~~0000368057~~reported ~~Loan~~in ~~Paid~~the above table is presented *The text reported in ~~Full~~the 1above ~~12.000%~~table ~~180~~is 63presented ~~Summary~~graphically ~~0000368177~~on ~~Loan~~the ~~Paid~~monthly inbond ~~Full~~remittance 0report. 7The graphically on the monthly bond remittance report.~~375%~~ ~~180~~The 71monthly ~~Summary~~bond ~~0000368296~~remittance ~~Loan~~report ~~Paid~~can inbe ~~Full~~viewed 0online 10at www.~~990%~~ ~~180~~monthly 96bond ~~Summary~~remittance ~~0000368448~~report ~~Loan~~can ~~Paid~~be inviewed ~~Full~~online 0at 12ctslink.~~250%~~com. ~~120~~www.ctslink.com. 70CDR ~~Summary~~Loss ~~0000368527~~Severity ~~Loan~~Approximation ~~Paid~~Current inMonth ~~Full~~ 0.866% 15Current Month 23.~~500~~221% ~~120~~3 67Month ~~Summary~~Average ~~0000368588~~0.289% ~~Loan~~3 ~~Paid~~Month inAverage ~~Full~~7.740% ~~(1)~~12 8Month Average 0.~~500~~000% ~~180~~12 77Month ~~Summary~~Average ~~0000368604~~0.000% ~~Loan~~CDR: ~~Paid~~Current invs ~~Full~~12mo ~~(3)~~Average* ~~8.500%~~Loss ~~120~~Severity: 90Current ~~Summary~~vs ~~0000368733~~12mo ~~Loan~~Average* ~~Paid~~Month inCurrent ~~Full~~12mo 0Avg. 11Month Current 12mo Avg.~~500%~~ ~~180~~Jan-2005 76N/A ~~Summary~~N/A ~~0000368763~~Jan-2005 ~~Loan~~N/A ~~Paid~~N/A inFeb-2005 ~~Full~~N/A 0N/A ~~7.625%~~Feb-2005 ~~180~~N/A 76N/A ~~Summary~~Mar-2005 ~~0000368837~~N/A ~~Loan~~N/A ~~Paid~~Mar-2005 inN/A ~~Full~~N/A Apr-2005 0.000% 8N/A Apr-2005 0.000% ~~360~~N/A 87May-2005 ~~Summary~~0.351% ~~0000368944~~N/A ~~Loan~~May-2005 ~~Paid~~4.571% inN/A ~~Full~~Jun-2005 0 10.000% ~~180~~N/A 84Jun-2005 ~~Summary~~0.000% ~~0000369007~~N/A ~~Loan~~Jul-2005 ~~Paid~~0.000% inN/A ~~Full~~Jul-2005 0 12.~~750~~000% ~~180~~N/A 79Aug-2005 ~~Summary~~0.653% ~~0000369033~~N/A ~~Loan~~Aug-2005 ~~Paid~~4.785% inN/A ~~Full~~Sep-2005 0 6.000% ~~182~~N/A 72Sep-2005 ~~Summary~~0.000% ~~0000369311~~N/A ~~Loan~~Oct-2005 ~~Paid~~0.000% inN/A ~~Full~~Oct-2005 ~~(1) 12~~0.~~750~~000% ~~180~~N/A 84Nov-2005 ~~Summary~~0.000% ~~0000369320~~N/A ~~Loan~~Nov-2005 ~~Paid~~0.000% inN/A ~~Full~~Dec-2005 ~~1 10~~0.~~990~~866% ~~240~~N/A ~~103~~Dec-2005 ~~Summary~~23.221% ~~0000369331~~N/A ~~Loan~~*The ~~Paid~~text reported in ~~Full~~the 0above ~~12.740%~~table ~~180~~is 71presented ~~Summary~~*The ~~0000369334~~text ~~Loan~~reported ~~Paid~~ in ~~Full~~the 0above ~~11.740%~~table ~~180~~is 72presented ~~Summary~~graphically ~~0000369451~~on ~~Loan~~the ~~Paid~~monthly inbond ~~Full~~remittance 0report. 12The graphically on the monthly bond remittance report.~~000%~~ ~~120~~The 63monthly ~~Summary~~bond ~~0000369620~~remittance ~~Loan~~report ~~Paid~~can inbe ~~Full~~viewed 0online 11at www.~~990%~~ ~~180~~monthly 65bond ~~Summary~~remittance ~~0000369675~~report ~~Loan~~can ~~Paid~~be inviewed ~~Full~~online ~~(1)~~at 7ctslink.~~875%~~com. ~~360~~www.ctslink.com. 56Calculation ~~Summary~~Methodology: ~~0000369918~~Monthly ~~Loan~~Default ~~Paid~~Rate in(MDR): ~~Full~~sum(Beg 0Principal ~~9.150%~~Balance ~~240~~of 83Liquidated ~~Summary~~Loans)/ ~~0000416948~~sum(Beg ~~Loan~~Principal ~~Paid~~Balance). inConditional ~~Full~~Default Rate (CDR): 1-((1-MDR)^12) ~~4.875%~~SDA ~~360~~Standard 25Default ~~Summary~~Assumption: ~~0000416954~~If ~~Loan~~WAS ~~Paid~~is inless ~~Full~~than 0or ~~6.550%~~equal ~~360~~to 1130 ~~Summary~~then ~~0000416990~~CDR/(WAS*0.02) ~~Loan~~else ~~Paid~~if inWAS ~~Full~~is 0greater ~~6.425%~~than ~~360~~30 18and ~~Summary~~less ~~0000417002~~than ~~Loan~~or ~~Paid~~equal into ~~Full~~60 ~~(1)~~then 7CDR/0.~~125%~~6 ~~360~~else 22if ~~Summary~~WAS ~~0000417282~~is ~~Loan~~greater ~~Paid~~than in60 ~~Full~~and 0less ~~7.500%~~than ~~360~~or 39equal ~~Summary~~to ~~0000417457~~120 ~~Loan~~then ~~Paid~~CDR/(0.6 in- ~~Full~~ ((WAS-60)*0 7.~~250%~~0095)) ~~360~~else 81if ~~Summary~~WAS ~~0000417469~~is ~~Loan~~greater ~~Paid~~than in120 ~~Full~~then CDR/0 6.~~500%~~03 ~~180~~Loss 80Severity ~~Summary~~Approximation ~~0000417504~~for ~~Loan~~current ~~Paid~~period: insum(Realized ~~Full~~Loss 0Amount)/sum(Beg ~~8.625%~~Principal ~~180~~Balance 85of Liquidated Loans)

~~Summary~~Prepayment ~~SMM~~Detail ~~CPR~~- ~~PSA~~Prepayments ~~Current~~during ~~Month 1.931%~~ Current ~~Month~~Period ~~20.865%~~Summary ~~Current~~Loans ~~Month~~Paid ~~347.748%~~In 3Full ~~Month~~Repurchased ~~Average~~Loans ~~2.351%~~Original ~~3 Month Average 24.784% 3 Month Average 413.074% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR:~~ Current vsOriginal ~~12mo Average* PSA:~~ Current vsPrincipal ~~12mo~~Principal Average*Principal ~~Month~~Principal ~~Current~~Group ~~12mo~~Count ~~Avg.~~Balance ~~Month~~Balance ~~Current~~Count ~~12mo~~Balance ~~Avg.~~Balance ~~Oct-2004~~Total ~~N/A~~33 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 252,684,096.~~822%~~00 ~~N/A Apr-2005 430~~2,279,221.~~359%~~48 ~~N/A~~0 ~~May-2005 25~~0.~~376%~~00 N/A May-2005 422.931% N/A Jun-2005 27.724% N/A Jun-2005 462.065% N/A Jul-2005 25.515% N/A Jul-2005 425.250% N/A Aug-2005 27.973% N/A Aug-2005 466.224% N/A Sep-2005 20.865% N/A Sep-2005 347.748% 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))~~00

~~Realized~~Prepayment ~~Loss~~ Detail ~~Report~~ - ~~Loans~~Prepayments ~~with Losses~~ during Current Period (continued) Summary #Substitution Loans ~~Prior~~Liquidated ~~Realized~~Loans Curtailments Original Current ~~with~~Original Current Principal ~~Loss/(Gain)~~Principal ~~Loss~~Principal Principal Curtailment Group ~~Losses~~Count Balance ~~Amount~~Balance ~~Percentage~~Count Balance Balance Amount Total 20 0.00 ~~(311~~0.~~94)~~00 01 102,113.~~000%~~00 97,261.60 12,483.62

~~Realized~~Prepayment ~~Loss~~ Loan Detail ~~Report~~ - ~~Loans~~Prepayments ~~With Losses~~ during Current Period First Original ~~Current~~ Loan ~~Principal Note~~ LTV at ~~Original~~Payment Principal Prepayment Group Number State Origination Date Balance ~~Rate~~Amount ~~State~~Summary ~~Origination~~0000367776 ~~Term~~FL 56.72 28-Dec-2000 38,000.00 30,336.89 Summary ~~0000260629~~0000367811 ~~261~~FL 88.06 04-Feb-2001 59,000.00 44,392.85 Summary 0000367931 KS 100.00 12-Oct-2000 10,301.00 7,774.~~2500%~~01 FLSummary 0000367945 KS 88.31 01-Oct-2000 73,296.00 71,858.90 Summary 0000367951 MI 95.39 29-Sep-2000 71,546.00 ~~360~~67,880.91 Summary ~~0000260652~~0000368119 ~~293~~IN 102.29 10-May-1997 59,~~700~~331.00 735,729.~~0000%~~80 Summary 0000368181 IN 69.06 10-Apr-1999 50,066.00 42,659.71 Summary 0000368216 IN 55.41 02-Jan-2000 46,541.00 36,380.06 Summary 0000368537 KY 99.15 16-Apr-1999 66,430.00 55,016.84 Summary 0000368590 KY 95.27 05-Jan-1999 71,451.00 49,291.75 Summary 0000368784 VA 95.94 14-Aug-1999 55,644.00 48,124.69 Summary 0000368816 NJ 80.12 05-Mar-1999 32,049.00 8,991.72 Summary 0000368923 OH 95.43 03-Apr-2000 102,113.00 97,261.60 Summary 0000369049 OH 94.29 08-Sep-1998 75,431.00 52,632.36 Summary 0000369106 OH 100.00 20-Oct-1997 14,164.00 252.05 Summary 0000369267 OH 93.26 01-Apr-2000 130,568.00 117,905.94 Summary 0000369364 OH 71.29 18-Jun-1996 23,952.00 10,735.28 Summary 0000369374 OH 93.99 01-Aug-1999 93,052.00 90,815.09 Summary 0000369436 OH 76.12 20-Jun-1997 37,297.00 23,910.33 Summary 0000369524 OH 61.52 02-Oct-1995 33,836.00 29,815.15 Summary 0000369555 OH 85.43 15-May-1998 37,591.00 32,297.06 Summary 0000369639 PA 33.00 21-May-1999 21,452.00 9,782.12 Summary 0000369732 PA 91.02 13-Sep-2000 38,229.00 31,973.80 Summary 0000369774 IA 94.96 10-Aug-2000 110,150.00 106,492.80 Summary 0000369855 IN 91.35 01-Dec-1999 45,675.00 35,405.51 Summary 0000407758 MD 96.89 01-Sep-2000 87,203.00 ~~360~~90,631.50 Summary 0000416966 CA 89.84 01-Jul-2004 283,000.00 181,629.44 Summary 0000416969 TX 62.27 01-Aug-2004 63,516.00 60,051.82 Summary 0000417080 NY 86.48 01-Sep-2003 307,000.00 290,778.59 Summary 0000417135 AZ 89.42 01-Jul-2003 123,400.00 118,947.94 Summary 0000417143 NY 79.97 01-Nov-2002 47,100.00 38,831.68 Summary 0000417233 FL 89.89 01-Sep-2003 244,500.00 234,771.37 Summary 0000417350 WA 89.90 01-Oct-2002 157,325.00 147,434.96 Summary 0000417369 SC 74.15 01-Apr-2004 76,000.00 69,947.13

~~Realized~~Prepayment ~~Loss~~ Loan Detail ~~Report~~ - ~~Loans~~Prepayments ~~With Losses~~ during Current Period (continued) ~~Prior~~Current ~~Cumulative~~ Loan ~~Principal~~PIF ~~Realized~~Months ~~Realized~~Loan Original Group Number ~~Balance~~Type ~~Loss/~~Delinquent Rate Term Seasoning Summary 0000367776 Loan Paid in Full (~~Gain~~2) ~~Loss/~~13.250% 180 59 Summary 0000367811 Loan Paid in Full 0 10.990% 144 58 Summary 0000367931 Loan Paid in Full 0 15.930% 120 62 Summary 0000367945 Loan Paid in Full 0 6.500% 360 62 Summary 0000367951 Loan Paid in Full 0 7.125% 240 62 Summary 0000368119 Loan Paid in Full 0 7.000% 180 103 Summary 0000368181 Loan Paid in Full 0 6.375% 240 80 Summary 0000368216 Loan Paid in Full 0 8.000% 180 71 Summary 0000368537 Loan Paid in Full 0 8.740% 240 80 Summary 0000368590 Loan Paid in Full 0 8.500% 180 83 Summary 0000368784 Loan Paid in Full 0 10.740% 240 76 Summary 0000368816 Loan Paid in Full 0 8.500% 120 81 Summary 0000368923 Liquidation 0 10.250% 362 68 Summary 0000369049 Loan Paid in Full 0 7.375% 180 87 Summary 0000369106 Loan Paid in Full (~~Gain~~1) 10.250% 120 97 Summary ~~0000260629~~0000369267 Loan Paid in Full 0 6.00625% ~~(135~~240 68 Summary 0000369364 Loan Paid in Full 1 10.~~72)~~990% ~~(135~~148 113 Summary 0000369374 Loan Paid in Full 0 11.500% 360 76 Summary 0000369436 Loan Paid in Full 0 6.125% 180 101 Summary 0000369524 Loan Paid in Full 0 10.690% 418 122 Summary 0000369555 Loan Paid in Full 0 12.500% 240 91 Summary 0000369639 Loan Paid in Full 0 9.000% 120 78 Summary 0000369732 Loan Paid in Full 0 11.000% 180 63 Summary 0000369774 Loan Paid in Full 0 7.875% 360 64 Summary 0000369855 Loan Paid in Full 0 10.500% 180 72) Summary ~~0000260652~~0000407758 Loan Paid in Full 0 6.00125% ~~(176~~406 63 Summary 0000416966 Loan Paid in Full 0 5.~~22)~~875% 360 17 Summary 0000416969 Loan Paid in Full 0 7.375% 180 16 Summary 0000417080 Loan Paid in Full (~~176~~1) 5.22925% 360 27 Summary 0000417135 Loan Paid in Full 0 5.625% 360 29 Summary 0000417143 Loan Paid in Full 0 6.375% 180 37 Summary 0000417233 Loan Paid in Full (1) 5.800% 360 27 Summary 0000417350 Loan Paid in Full 0 7.100% 360 38 Summary 0000417369 Loan Paid in Full 0 5.375% 180 20

Prepayment - Voluntary Prepayments

~~MDR~~Summary ~~SDA~~SMM CPR PSA Current Month 01.~~000~~780% Current Month 019.~~000~~387% Current Month 323.123% 3 Month Average 01.~~018~~986% 3 Month Average 21.382% 3 Month Average 356.372% 12 Month Average 0.~~363~~000% 12 Month Average 0.000% 12 Month Average 0.000% ~~MDR~~CPR: Current vs 12mo Average* ~~SDA~~PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~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 025.~~000~~822% N/A Apr-2005 0430.~~000~~359% N/A May-2005 025.~~029~~376% N/A May-2005 0422.~~585~~931% N/A Jun-2005 027.~~000~~724% N/A Jun-2005 0462.~~000~~065% N/A Jul-2005 025.~~000~~515% N/A Jul-2005 0425.~~000~~250% N/A Aug-2005 027.~~055~~973% N/A Aug-2005 1466.~~089~~224% N/A Sep-2005 020.~~000~~865% N/A Sep-2005 0347.~~000~~748% 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 0.218% 3 Month Average 1.595% 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. 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 0~~22.~~000~~635% N/A ~~Apr~~Oct-2005 0377.~~000~~248% N/A ~~May~~Nov-2005 022.~~351~~125% N/A ~~May~~Nov-2005 4368.~~571~~745% N/A ~~Jun~~Dec-2005 019.~~000~~387% N/A ~~Jun~~Dec-2005 0323.~~000~~123% N/A ~~Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.653% N/A Aug-2005 4.785% 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~~Single ~~Default~~Month ~~Rate~~Mortality (~~MDR~~SMM): ~~sum~~(~~Beg~~Partial ~~Principal~~and ~~Balance~~full ofprepayments ~~Liquidated~~+ ~~Loans~~Repurchases) / ~~sum~~(~~Beg~~Beginning ~~Principal~~Scheduled Balance - Scheduled Principal). Conditional ~~Default~~PrePayment Rate (~~CDR~~CPR): 1 - ((1 -~~MDR~~ SMM)^12) ~~SDA~~PSA Standard ~~Default~~Prepayment ~~Assumption~~Model: If100 ~~WAS is less than or equal to 30 then CDR/(WAS~~*~~0.02)~~ ~~else~~CPR ~~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/~~(0.62 -* MIN((30,WAS~~-60~~)*0.0095)) ~~else~~Weighted ifAverage ~~WAS~~Seasoning ~~is greater than 120 then CDR/0.03 Loss Severity Approximation for current period~~(WAS): sum(~~Realized~~(Original ~~Loss~~Term ~~Amount~~- Remaining Term)~~/sum~~*(~~Beg~~Current ~~Principal~~Scheduled Balance/Deal ofScheduled ~~Liquidated~~Principal ~~Loans~~Balance))

Filing Compare · ACE Securities Corp Home Equity Loan Trust, Series 2005-SN1