8-K 1 sab05fr3_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 SECURITIZED ASSET BACKED RECEIVABLES LLC TRUST Mortgage Pass-Through Certificates, Series 2005-FR3 (Exact name of registrant as specified in its charter) New York (governing law of 333-108395-16 Pooling and Servicing Agreement) (Commission 54-2179694 (State or other File Number) 54-2179695 jurisdiction 54-2186637 of Incorporation) 54-2186638 54-6671954 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 December 27, 2005 a distribution was made to holders of SECURITIZED ASSET BACKED RECEIVABLES LLC TRUST, Mortgage Pass-Through Certificates, Series 2005-FR3 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-FR3 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. SECURITIZED ASSET BACKED RECEIVABLES LLC TRUST Mortgage Pass-Through Certificates, Series 2005-FR3 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 12/30/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-FR3 Trust, relating to the December 27, 2005 distribution. EX-99.1 Securitized Asset Backed Receivables LLC Trust Mortgage Pass-Through Certificates Record Date: 11/30/2005 Distribution Date: 12/27/2005 Securitized Asset Backed Receivables LLC Trust Mortgage Pass-Through Certificates Series SABR 2005-FR3 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

Securitized Asset Backed Receivables Mortgage Pass-Through Certificates Record Date: 7/29/2005 Distribution Date: 8/25/2005 Securitized Asset Backed Receivables Mortgage Pass-Through Certificates Series SABR 2005-FR3 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-1A 81375WEP7 ~~SEN 3~~4.~~80500~~51625% ~~261~~224,~~871~~006,~~000~~647.0016 ~~802~~899,~~670~~262.9924 A-1B 81375WEQ5 ~~SEN 3~~4.~~85000~~56125% 6556,~~467~~001,~~000~~020.0023 ~~203~~227,~~038~~053.6303 A-2A 81375WER3 ~~SEN 3~~4.~~59000~~30125% 7348,~~746~~644,~~000~~311.0012 ~~213~~185,~~269~~983.3442 A-2B 81375WES1 ~~SEN 3~~4.~~73000~~44125% 30,065,000.00 90118,~~336~~689.9794 A-2C 81375WET9 ~~SEN 3~~4.~~90000~~61125% 29,526,000.00 92121,~~760~~023.8579 M-1 81375WEU6 ~~MEZ 3~~4.~~95000~~66125% 38,061,000.00 ~~121~~157,~~107~~699.9941 M-2 81375WEV4 ~~MEZ~~ 4.~~13000~~84125% 24,810,000.00 82106,~~541~~765.4970 M-3 81375WEW2 ~~MEZ~~ 4.~~18000~~89125% 7,612,000.00 2533,~~631~~095.3028 B-1 81375WEX0 ~~JUN 4~~5.~~66000~~37125% 5,638,000.00 2126,~~164~~918.4332 B-2 81375WEY8 ~~JUN 4~~5.~~86000~~57125% 5,639,000.00 2227,~~076~~925.6958 B-3 81375WEZ5 ~~JUN~~ 5.~~28000~~99125% 5,639,000.00 2330,~~984~~030.5581 B-4 81375WFA9 ~~JUN 6~~7.~~48000~~19125% 5,638,000.00 2936,~~430~~039.3635 X SAB05FR3X ~~SEN~~ 0.00000% 10,~~150~~149,~~199~~519.0057 ~~555~~613,~~889~~443.6908 P SAB05FR3P ~~SEN~~ 0.00000% 0.01 73259,~~636~~757.8415 R SAB05F3R1 ~~RES~~ 0.00000% 0.00 0.00 Totals ~~563~~491,~~862~~429,~~199~~498.0109 2,~~357~~843,~~540~~687.1210

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-1A 27,~~551~~466,~~848~~762.9602 0.00 ~~259~~216,~~319~~539,~~151~~885.0414 38,~~354~~366,~~519~~024.9526 0.00 A-1B ~~637~~1,~~954~~866,669.9312 0.00 6454,~~829~~134,~~045~~351.0711 ~~840~~2,~~993~~093,722.5615 0.00 A-2A 23,~~887~~283,~~962~~993.5132 0.00 7045,~~858~~360,~~037~~317.4980 3,~~101~~469,~~231~~976.8574 0.00 A-2B 0.00 0.00 30,065,000.00 90118,~~336~~689.9794 0.00 A-2C 0.00 0.00 29,526,000.00 92121,~~760~~023.8579 0.00 M-1 0.00 0.00 38,061,000.00 ~~121~~157,~~107~~699.9941 0.00 M-2 0.00 0.00 24,810,000.00 82106,~~541~~765.4970 0.00 M-3 0.00 0.00 7,612,000.00 2533,~~631~~095.3028 0.00 B-1 0.00 0.00 5,638,000.00 2126,~~164~~918.4332 0.00 B-2 0.00 0.00 5,639,000.00 2227,~~076~~925.6958 0.00 B-3 0.00 0.00 5,639,000.00 2330,~~984~~030.5581 0.00 B-4 0.00 0.00 5,638,000.00 2936,~~430~~039.3635 0.00 X 0.00 0.00 10,149,519.57 ~~555~~613,~~889~~443.6908 0.00 P 0.00 0.00 0.01 73259,~~636~~757.8415 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 612,~~077~~617,~~766~~424.4046 0.00 ~~557~~478,~~783~~812,~~753~~073.1863 815,~~435~~461,~~306~~111.5256 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 Class Original Beginning Scheduled ~~Unscheduled~~UnScheduled Accretion Realized Face Certificate Principal Principal ~~Realized~~Loss ~~Class~~ Amount Balance Distribution Distribution ~~Accretion Loss (1)~~ A-1A 261,871,000.00 ~~261~~224,~~871~~006,~~000~~647.0016 0.00 27,~~551~~466,~~848~~762.9602 0.00 0.00 A-1B 65,467,000.00 6556,~~467~~001,~~000~~020.0023 0.00 ~~637~~1,~~954~~866,669.9312 0.00 0.00 A-2A 73,746,000.00 7348,~~746~~644,~~000~~311.0012 0.00 23,~~887~~283,~~962~~993.5132 0.00 0.00 A-2B 30,065,000.00 30,065,000.00 0.00 0.00 0.00 0.00 A-2C 29,526,000.00 29,526,000.00 0.00 0.00 0.00 0.00 M-1 38,061,000.00 38,061,000.00 0.00 0.00 0.00 0.00 M-2 24,810,000.00 24,810,000.00 0.00 0.00 0.00 0.00 M-3 7,612,000.00 7,612,000.00 0.00 0.00 0.00 0.00 B-1 5,638,000.00 5,638,000.00 0.00 0.00 0.00 0.00 B-2 5,639,000.00 5,639,000.00 0.00 0.00 0.00 0.00 B-3 5,639,000.00 5,639,000.00 0.00 0.00 0.00 0.00 B-4 5,638,000.00 5,638,000.00 0.00 0.00 0.00 0.00 X 10,150,199.00 10,~~150~~149,~~199~~519.0057 0.00 0.00 0.00 0.00 P 0.01 0.01 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 563,862,199.01 ~~563~~491,~~862~~429,~~199~~498.0109 0.00 612,~~077~~617,~~766~~424.4046 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-1A 27,~~551~~466,~~848~~762.9602 ~~259~~216,~~319~~539,~~151~~885.0414 0.~~99025532~~826895 27,~~551~~466,~~848~~762.9602 A-1B ~~637~~1,~~954~~866,669.9312 6454,~~829~~134,~~045~~351.0711 0.~~99025532~~826895 ~~637~~1,~~954~~866,669.9312 A-2A 23,~~887~~283,~~962~~993.5132 7045,~~858~~360,~~037~~317.4980 0.~~96083906~~615089 23,~~887~~283,~~962~~993.5132 A-2B 0.00 30,065,000.00 1.~~00000000~~000000 0.00 A-2C 0.00 29,526,000.00 1.~~00000000~~000000 0.00 M-1 0.00 38,061,000.00 1.~~00000000~~000000 0.00 M-2 0.00 24,810,000.00 1.~~00000000~~000000 0.00 M-3 0.00 7,612,000.00 1.~~00000000~~000000 0.00 B-1 0.00 5,638,000.00 1.~~00000000~~000000 0.00 B-2 0.00 5,639,000.00 1.~~00000000~~000000 0.00 B-3 0.00 5,639,000.00 1.~~00000000~~000000 0.00 B-4 0.00 5,638,000.00 1.~~00000000~~000000 0.00 X 0.00 10,149,519.57 0.~~99993306~~999933 0.00 P 0.00 0.01 1.~~00000000~~000000 0.00 R 0.00 0.00 0.~~00000000~~000000 0.00 Totals 612,~~077~~617,~~766~~424.4046 ~~557~~478,~~783~~812,~~753~~073.1863 0.~~98921998~~849165 612,~~077~~617,~~766~~424.4046

Principal Distribution Factors Statement Class Original Beginning Scheduled ~~Unscheduled~~UnScheduled Accretion Face Certificate Principal Principal ~~Class (2)~~ Amount Balance Distribution Distribution ~~Accretion~~ A-1A 261,871,000.00 ~~1000~~855.~~00000000~~408377 0.~~00000000~~000000 928.~~74467948~~513131 0.~~00000000~~000000 A-1B 65,467,000.00 ~~1000~~855.~~00000000~~408377 0.~~00000000~~000000 928.~~74467946~~513131 0.~~00000000~~000000 A-2A 73,746,000.00 ~~1000~~659.~~00000000~~619656 0.~~00000000~~000000 3944.~~16093768~~531138 0.~~00000000~~000000 A-2B 30,065,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 A-2C 29,526,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 M-1 38,061,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 M-2 24,810,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 M-3 7,612,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 B-1 5,638,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 B-2 5,639,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 B-3 5,639,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 B-4 5,638,000.00 1000.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 X 10,150,199.00 ~~1000~~999.~~00000000~~933062 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 P 0.01 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 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-1A 0.~~00000000~~000000 928.~~74467948~~513131 ~~990~~826.~~25532052~~895247 0.~~99025532~~826895 928.~~74467948~~513131 A-1B 0.~~00000000~~000000 928.~~74467946~~513131 ~~990~~826.~~25532054~~895247 0.~~99025532~~826895 928.~~74467946~~513131 A-2A 0.~~00000000~~000000 3944.~~16093768~~531138 ~~960~~615.~~83906232~~088517 0.~~96083906~~615089 3944.~~16093768~~531138 A-2B 0.~~00000000~~000000 0.~~00000000~~000000 1,000.~~00000000~~000000 1.~~00000000~~000000 0.~~00000000~~000000 A-2C 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 B-1 0.~~00000000~~000000 0.~~00000000~~000000 1,000.~~00000000~~000000 1.~~00000000~~000000 0.~~00000000~~000000 B-2 0.~~00000000~~000000 0.~~00000000~~000000 1,000.~~00000000~~000000 1.~~00000000~~000000 0.~~00000000~~000000 B-3 0.~~00000000~~000000 0.~~00000000~~000000 1,000.~~00000000~~000000 1.~~00000000~~000000 0.~~00000000~~000000 B-4 0.~~00000000~~000000 0.~~00000000~~000000 1,000.~~00000000~~000000 1.~~00000000~~000000 0.~~00000000~~000000 X 0.~~00000000~~000000 0.~~00000000~~000000 999.~~93306240~~933062 0.~~99993306~~999933 0.~~00000000~~000000 P 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 1.~~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~~denomination. ~~Please Refer to the Prospectus Supplement for a Full Description.~~

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-1A ~~261,871,000.00~~11/25/05 3- 12/26/05 32 4.~~80500~~51625% ~~261~~224,~~871~~006,~~000~~647.0016 ~~802~~899,~~670~~262.9924 0.00 ~~0.00~~ A-1B ~~65,467,000.00~~11/25/05 3- 12/26/05 32 4.~~85000~~56125% 6556,~~467~~001,~~000~~020.0023 ~~203~~227,~~038~~053.6303 0.00 ~~0.00~~ A-2A ~~73,746,000.00~~11/25/05 3- 12/26/05 32 4.~~59000~~30125% 7348,~~746~~644,~~000~~311.0012 ~~213~~185,~~269~~983.3442 0.00 ~~0.00~~ A-2B ~~30,065,000.00~~11/25/05 3- 12/26/05 32 4.~~73000~~44125% 30,065,000.00 90118,~~336~~689.9794 0.00 ~~0.00~~ A-2C ~~29,526,000.00~~11/25/05 3- 12/26/05 32 4.~~90000~~61125% 29,526,000.00 92121,~~760~~023.8579 0.00 ~~0.00~~ M-1 ~~38,061,000.00~~11/25/05 3- 12/26/05 32 4.~~95000~~66125% 38,061,000.00 ~~121~~157,~~107~~699.9941 0.00 ~~0.00~~ M-2 ~~24,810,000.00~~11/25/05 - 12/26/05 32 4.~~13000~~84125% 24,810,000.00 82106,~~541~~765.4970 0.00 ~~0.00~~ M-3 ~~7,612,000.00~~11/25/05 - 12/26/05 32 4.~~18000~~89125% 7,612,000.00 2533,~~631~~095.3028 0.00 ~~0.00~~ B-1 11/25/05 - 12/26/05 32 5~~,638,000~~.~~00 4.66000~~37125% 5,638,000.00 2126,~~164~~918.4332 0.00 ~~0.00~~ B-2 11/25/05 - 12/26/05 32 5~~,639,000~~.~~00 4.86000~~57125% 5,639,000.00 2227,~~076~~925.6958 0.00 ~~0.00~~ B-3 ~~5,639,000.00~~11/25/05 - 12/26/05 32 5.~~28000~~99125% 5,639,000.00 2330,~~984~~030.5581 0.00 ~~0.00~~ B-4 ~~5,638,000.00~~11/25/05 6- 12/26/05 32 7.~~48000~~19125% 5,638,000.00 2936,~~430~~039.3635 0.00 ~~0.00~~ X ~~10,150,199.00~~N/A N/A 0.00000% 10,~~150~~149,~~199~~519.0057 0.00 0.00 ~~0.00~~ P ~~0.01~~N/A N/A 0.00000% 0.01 0.00 0.00 ~~0.00~~ R ~~0.00~~N/A N/A 0.00000% 0.00 0.00 0.00 ~~0.00~~ Totals ~~563,862,199.01~~ 1,~~728~~970,~~013~~486.5987 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-1A 0.00 0.00 ~~802~~899,~~670~~262.9924 0.00 ~~259~~216,~~319~~539,~~151~~885.0414 A-1B 0.00 0.00 ~~203~~227,~~038~~053.6303 0.00 6454,~~829~~134,~~045~~351.0711 A-2A 0.00 0.00 ~~213~~185,~~269~~983.3442 0.00 7045,~~858~~360,~~037~~317.4980 A-2B 0.00 0.00 90118,~~336~~689.9794 0.00 30,065,000.00 A-2C 0.00 0.00 92121,~~760~~023.8579 0.00 29,526,000.00 M-1 0.00 0.00 ~~121~~157,~~107~~699.9941 0.00 38,061,000.00 M-2 0.00 0.00 82106,~~541~~765.4970 0.00 24,810,000.00 M-3 0.00 0.00 2533,~~631~~095.3028 0.00 7,612,000.00 B-1 0.00 0.00 2126,~~164~~918.4332 0.00 5,638,000.00 B-2 0.00 0.00 2227,~~076~~925.6958 0.00 5,639,000.00 B-3 0.00 0.00 2330,~~984~~030.5581 0.00 5,639,000.00 B-4 0.00 0.00 2936,~~430~~039.3635 0.00 5,638,000.00 X 0.00 0.00 ~~555~~613,~~889~~443.6908 0.00 10,149,519.57 P 0.00 0.00 73259,~~636~~757.8415 0.00 0.01 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,~~357~~843,~~540~~687.1210 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-1A 11/25/05 - 12/26/05 261,871,000.00 34.~~80500~~51625% ~~1000~~855.~~00000000~~408377 3.~~06513890~~433989 0.~~00000000~~000000 ~~0.00000000~~ A-1B 11/25/05 - 12/26/05 65,467,000.00 34.~~85000~~56125% ~~1000~~855.~~00000000~~408377 3.~~10138894~~468206 0.~~00000000~~000000 ~~0.00000000~~ A-2A 11/25/05 - 12/26/05 73,746,000.00 34.~~59000~~30125% ~~1000~~659.~~00000000~~619656 2.~~89194451~~521946 0.~~00000000~~000000 ~~0.00000000~~ A-2B 11/25/05 - 12/26/05 30,065,000.00 34.~~73000~~44125% 1000.~~00000000~~000000 3.~~00472210~~947778 0.~~00000000~~000000 ~~0.00000000~~ A-2C 11/25/05 - 12/26/05 29,526,000.00 34.~~90000~~61125% 1000.~~00000000~~000000 34.~~14166667~~098889 0.~~00000000~~000000 ~~0.00000000~~ M-1 11/25/05 - 12/26/05 38,061,000.00 34.~~95000~~66125% 1000.~~00000000~~000000 34.~~18194451~~143333 0.~~00000000~~000000 ~~0.00000000~~ M-2 11/25/05 - 12/26/05 24,810,000.00 4.~~13000~~84125% 1000.~~00000000~~000000 34.~~32694438~~303333 0.~~00000000~~000000 ~~0.00000000~~ M-3 11/25/05 - 12/26/05 7,612,000.00 4.~~18000~~89125% 1000.~~00000000~~000000 34.~~36722281~~347777 0.~~00000000~~000000 ~~0.00000000~~ B-1 11/25/05 - 12/26/05 5,638,000.00 45.~~66000~~37125% 1000.~~00000000~~000000 34.~~75388968~~774445 0.~~00000000~~000000 ~~0.00000000~~ B-2 11/25/05 - 12/26/05 5,639,000.00 45.~~86000~~57125% 1000.~~00000000~~000000 34.~~91500089~~952222 0.~~00000000~~000000 ~~0.00000000~~ B-3 11/25/05 - 12/26/05 5,639,000.00 5.~~28000~~99125% 1000.~~00000000~~000000 45.~~25333392~~325556 0.~~00000000~~000000 ~~0.00000000~~ B-4 11/25/05 - 12/26/05 5,638,000.00 67.~~48000~~19125% 1000.~~00000000~~000000 56.~~22000000~~392222 0.~~00000000~~000000 ~~0.00000000~~ X N/A 10,150,199.00 0.00000% ~~1000~~999.~~00000000~~933062 0.~~00000000~~000000 0.~~00000000~~000000 ~~0.00000000~~ P N/A 0.01 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 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-1A 0.~~00000000~~000000 0.~~00000000~~000000 3.~~06513890~~433989 0.~~00000000~~000000 ~~990~~826.~~25532052~~895247 A-1B 0.~~00000000~~000000 0.~~00000000~~000000 3.~~10138894~~468206 0.~~00000000~~000000 ~~990~~826.~~25532054~~895247 A-2A 0.~~00000000~~000000 0.~~00000000~~000000 2.~~89194451~~521946 0.~~00000000~~000000 ~~960~~615.~~83906232~~088517 A-2B 0.~~00000000~~000000 0.~~00000000~~000000 3.~~00472210~~947778 0.~~00000000~~000000 1000.~~00000000~~000000 A-2C 0.~~00000000~~000000 0.~~00000000~~000000 34.~~14166667~~098889 0.~~00000000~~000000 1000.~~00000000~~000000 M-1 0.~~00000000~~000000 0.~~00000000~~000000 34.~~18194451~~143333 0.~~00000000~~000000 1000.~~00000000~~000000 M-2 0.~~00000000~~000000 0.~~00000000~~000000 34.~~32694438~~303333 0.~~00000000~~000000 1000.~~00000000~~000000 M-3 0.~~00000000~~000000 0.~~00000000~~000000 34.~~36722281~~347777 0.~~00000000~~000000 1000.~~00000000~~000000 B-1 0.~~00000000~~000000 0.~~00000000~~000000 34.~~75388968~~774445 0.~~00000000~~000000 1000.~~00000000~~000000 B-2 0.~~00000000~~000000 0.~~00000000~~000000 34.~~91500089~~952222 0.~~00000000~~000000 1000.~~00000000~~000000 B-3 0.~~00000000~~000000 0.~~00000000~~000000 45.~~25333392~~325556 0.~~00000000~~000000 1000.~~00000000~~000000 B-4 0.~~00000000~~000000 0.~~00000000~~000000 56.~~22000000~~392222 0.~~00000000~~000000 1000.~~00000000~~000000 X 0.~~00000000~~000000 0.~~00000000~~000000 5460.~~76638340~~436557 0.~~00000000~~000000 999.~~93306240~~933062 P 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 ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 815,~~865~~381,~~377~~929.3532 ~~Liquidations,~~Reserve ~~Insurance~~Funds ~~Proceeds,~~and ~~Reserve~~Credit ~~Funds~~Enhancements 0.00 Proceeds from Repurchased Loans 0.00 ~~Other Amounts (~~Servicer Advances) 39466,~~872~~329.1287 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 73259,~~636~~757.8415 Swap/Cap Payments 0.00 Total Deposits 816,~~978~~108,~~886~~016.3134 Withdrawals Swap Payments 0.00 Reserve Funds and Credit Enhancements 0.00 Reimbursement for Servicer Advances 0168,890.0045 ~~Payment~~Total ofAdministration ~~Service~~Fees ~~Fee 543~~478,~~579~~014.7933 Payment of Interest and Principal 815,~~435~~461,~~306~~111.5256 Total Withdrawals (Pool Distribution Amount) 816,~~978~~108,~~886~~016.3134 Ending Balance 0.00 Please see Additional Reporting Page for information related to SWAP and CAP payments.

~~SERVICING~~ADMINISTRATION FEES Gross Servicing Fee* ~~234~~204,~~908~~762.1428 Loan Performance Advisor Fee 7- MortgageRamp Inc. 6,~~047~~143.2406 ~~Radian~~ PMI Insurer Fee ~~300~~- Radian Guaranty Inc. 266,~~684~~289.7895 Trustee Fee - Wells Fargo Bank, ~~N.A.~~NA ~~939~~819.6304 Supported Prepayment/Curtailment Interest Shortfall 0.00 ~~Net~~Total ~~Servicing~~Administration ~~Fee~~Fees ~~543~~478,~~579~~014.7933 *Servicer Payees include: COUNTRYWIDE HOME LOANS INC.

~~OTHER~~Reserve ~~ACCOUNTS~~Accounts Account Name Beginning Current Withdrawals Current Deposits Ending ~~Account~~Balance ~~Type~~ Balance ~~Withdrawals~~Basis ~~Deposits~~Risk ~~Balance~~ Reserve ~~Fund~~ 0.00 ~~4,151.29 4,151.29~~ 0.00 ~~Reserve Fund 82,676.17 82,676.17~~ 0.00 0.00 Fund

~~LOAN~~COLLATERAL ~~STATUS~~STATEMENT ~~STRATIFICATION/CREDIT~~Collateral ~~ENHANCEMENT~~Description ~~STATEMENT~~Mixed ~~DELINQUENT~~Fixed ~~BANKRUPTCY~~& ~~FORECLOSURE~~Arm ~~REO~~Weighted ~~Total~~Average NoGross ofCoupon ~~Loans~~7.166821% NoWeighted ofAverage ~~Loans~~Net NoCoupon of6.666821% ~~Loans~~Weighted NoAverage ofPass-Through ~~Loans~~Rate No6.014427% ofWeighted ~~Loans~~Average ~~Principal~~Remaining ~~Balance~~Term ~~Principal~~350 ~~Balance~~Beginning ~~Principal~~Scheduled ~~Balance~~Collateral ~~Principal~~Loan ~~Balance~~Count ~~Principal~~2,581 ~~Balance~~Number ~~0-29~~Of ~~Days~~Loans 0Paid 0In 0Full 071 ~~0.00~~Ending ~~0.00~~Scheduled ~~0.00~~Collateral ~~0.00~~Loan 30Count ~~Days~~2,510 25Beginning 0Scheduled 0Collateral 0Balance ~~25 4~~491,~~603~~429,~~254~~498.7010 ~~0.00~~Ending ~~0.00~~Scheduled ~~0.00~~Collateral 4Balance 478,~~603~~812,~~254~~073.7064 60Ending ~~Days~~Actual 11Collateral 0Balance 0at 030-Nov-2005 ~~11 1~~479,~~668~~015,~~609~~699.0818 ~~0.00~~Monthly ~~0.00~~P&I ~~0.00~~Constant 13,~~668~~236,~~609~~900.0822 90Special ~~Days~~Servicing 0Fee 0 ~~0 0 0 0~~.00 ~~0.00~~Prepayment ~~0.00~~Penalty ~~0.00~~Waived ~~0.00~~Amount ~~120 Days~~ 0 ~~0 0 0 0 0~~.00 ~~0.00~~Prepayment ~~0.00~~Penalty ~~0.00~~Waived ~~0.00~~Count ~~150 Days~~ 0 0Prepayment 0Penalty 0Paid 0Amount 0259,757.0015 ~~0.00~~Prepayment ~~0.00~~Penalty ~~0.00~~Paid ~~0.00~~Count ~~180+~~50 ~~Days~~Realized 0Loss 0Amount 0 ~~0 0 0~~.00 ~~0.00~~Cumulative ~~0.00~~Realized ~~0.00~~Loss 0.00 ~~Totals~~Scheduled 36Principal ~~0 0 0 36 6~~301,~~271,863~~910.7879 ~~0.00~~Unscheduled ~~0.00~~Principal ~~0.00 6~~12,~~271~~315,~~863~~513.78 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.863260% 0.000000% 0.000000% 0.000000% 0.863260% 0.825276% 0.000000% 0.000000% 0.000000% 0.825276% 60 Days 0.379834% 0.000000% 0.000000% 0.000000% 0.379834% 0.299150% 0.000000% 0.000000% 0.000000% 0.299150% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.243094% 0.000000% 0.000000% 0.000000% 1.243094% 1.124426% 0.000000% 0.000000% 0.000000% 1.124426%67

~~OTHER~~Group ~~INFORMATION~~Level ~~Current~~Collateral ~~Period~~Statement ~~Class~~Group AGroup ~~Insufficient~~1 ~~Funds~~Group 2 Group 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 8.013973 7.158196 8.023139 Weighted Average Net Rate 7.513973 6.658196 7.523139 Weighted Average Remaining Term 339 352 346 Beginning Loan Count 616 1,598 121 Loans Paid In Full 26 35 4 Ending Loan Count 590 1,563 117 Beginning Scheduled Balance 47,370,607.94 305,958,105.46 21,002,733.95 Ending Scheduled Balance 45,906,139.81 298,089,142.45 20,563,926.97 Record Date 11/30/2005 11/30/2005 11/30/2005 Principal And Interest Constant 359,710.65 2,008,437.37 157,501.71 Scheduled Principal 43,355.02 183,347.35 17,078.49 Unscheduled Principal 1,421,113.11 7,685,615.66 421,728.49 Scheduled Interest 316,355.63 1,825,090.02 140,423.22 Servicing Fee 19,737.75 127,482.54 8,751.14 Master Servicing Fee 0.00 ~~Principal~~0.00 ~~Balance~~0.00 ofTrustee ~~Contaminated~~Fee ~~Properties~~78.95 509.93 35.00 FRY Amount 0.00 ~~Periodic~~0.00 ~~Advance~~0.00 39Special Hazard Fee 0.00 0.00 0.00 Other Fee 20,~~872~~948.1285 181,791.16 6,377.31 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 275,590.08 1,515,243.98 125,259.77 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 Penalty Waived Amount 0.00 0.00 0.00 Prepayment Penalty Waived Count 0 0 0 Prepayment Penalty Paid Amount Not Available Not Available Not Available Prepayment Penalty Paid Count Not Available Not Available Not Available Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.981293 5.942947 7.156769

~~SUBORDINATION~~Group ~~LEVEL/CREDIT~~Level ~~ENHANCEMENT/CLASS~~Collateral ~~PERCENTAGE~~Statement ~~AND~~Group ~~PREPAYMENT~~Group ~~PERCENTAGE~~4 ~~Current~~Total ~~Original~~Collateral $Description ~~Original~~Fixed %15/30 ~~Current~~& $ARM ~~Current~~Mixed %Fixed ~~Class%~~& ~~Prepayment%~~Arm ~~Class~~Weighted ~~M-1~~Average ~~65,126,199.01~~Coupon ~~11.55002040%~~Rate ~~65,125,519~~6.58693063 117.~~67576488%~~166821 Weighted Average Net Rate 6.~~823612%~~193063 06.~~000000%~~666821 ~~Class~~Weighted M-Average Remaining Term 352 350 Beginning Loan Count 246 2,581 40Loans Paid In Full 6 71 Ending Loan Count 240 2,~~316~~510 Beginning Scheduled Balance 117,~~199~~098,050.0175 7491,429,498.~~15000918%~~10 40Ending scheduled Balance 114,~~315~~252,~~519~~864.5841 7478,812,073.~~22780457%~~64 ~~4.447960%~~Record ~~0.000000%~~Date ~~Class~~11/30/2005 ~~M-3~~11/30/2005 32Principal And Interest Constant 711,~~704,199~~250.0149 ~~5.80003396% 32~~3,~~703~~236,~~519~~900.5822 ~~5.86311799%~~Scheduled 1Principal 58,129.~~364687%~~93 0301,910.~~000000%~~79 ~~Class~~Unscheduled ~~B-1~~Principal 272,~~066~~787,~~199~~056.0141 ~~4.80014427% 27~~12,~~065~~315,~~519~~513.5867 ~~4.85233201%~~Scheduled ~~1.010786%~~Interest 0653,120.~~000000%~~56 ~~Class B-~~2 21,~~427~~934,~~199~~989.0143 ~~3.80007723%~~Servicing 21Fee 48,~~426,519~~790.5885 3204,762.~~84136674%~~28 1Master Servicing Fee 0.~~010965%~~00 0.~~000000%~~00 ~~Class~~Trustee ~~B-3~~Fee ~~15,788,199~~195.0116 2819.~~80001019%~~04 ~~15,787,519.58~~FRY ~~2.83040148%~~Amount 10.~~010965%~~00 0.~~000000%~~00 ~~Class~~Special ~~B-4~~Hazard ~~10,150,199~~Fee 0.0100 10.~~80012050%~~00 10Other Fee 57,~~149,519~~172.5855 1266,289.~~81961549%~~87 1Pool Insurance Fee 0.~~010786%~~00 0.~~000000%~~00 ~~Class~~Spread X1 0.0100 0.~~00000000%~~00 Spread 2 0.0100 0.~~00000000%~~00 1Spread 3 0.~~819615%~~00 0.~~000000%~~00 ~~Class~~Net PInterest 0546,962.00 02,463,055.~~00000000%~~83 Realized Loss Amount 0.00 0.~~00000000%~~00 Cumulative Realized Loss 0.~~000000%~~00 0.~~000000%~~00 ~~Class~~Percentage ~~LT-R~~of Cumulative Losses 0.000000 0.~~00000000%~~0000 Prepayment Penalty Waived Amount 0.00 0.~~00000000%~~00 Prepayment Penalty Waived Count 0~~.000000%~~ 0 Prepayment Penalty Paid Amount Not Available 259757.~~000000%~~15 ~~Please~~Prepayment ~~Refer~~Penalty toPaid ~~the~~Count ~~Prospectus~~Not ~~Supplement~~Available ~~for~~50 aSpecial ~~Full~~Servicing ~~Description~~Fee of0.00 ~~Loss~~0.00 ~~Exposure~~Pass-Through Rate 5.605169 6.014427

~~COLLATERAL~~Additional ~~STATEMENT~~Reporting ~~Collateral~~- ~~Description~~Deal ~~Mixed~~Level ~~Fixed~~Miscellaneous &Reporting ~~Arm~~Credit ~~Weighted~~Enhancement ~~Average~~Percentage ~~Gross Coupon 6~~21.~~537438~~550526% ~~Weighted~~Delinquency ~~Average~~Trigger ~~Net~~Event ~~Coupon~~NO ~~6.037511%~~Cumulative ~~Weighted~~Loss ~~Average~~Trigger ~~Pass-Through~~Event ~~Rate~~NO ~~5.395277%~~Trigger ~~Weighted~~Event ~~Average~~NO ~~Maturity(~~Stepdown ~~Calculation)~~NO ~~354~~Total ~~Beginning~~Monthly ~~Scheduled~~Excess ~~Collateral~~Spread ~~Loan~~486,488.23 ~~Count~~Specified ~~2,914~~Subordinated ~~Number~~Amount Of10,149,519.58 ~~Loans~~Subordinated ~~Paid~~Deficiency InAmount ~~Full~~0.00 18Extra ~~Ending~~Principal ~~Scheduled~~Distribution ~~Collateral~~Amount ~~Loan~~0.00 ~~Count~~Subordinated ~~2,896~~Increase ~~Beginning~~Amount ~~Scheduled~~0.00 ~~Collateral~~Excess ~~Balance~~Subordinated ~~563,862,199~~Amount 0.0100 ~~Ending~~Subordinated ~~Scheduled~~Reduction ~~Collateral~~Amount ~~Balance~~0.00 ~~557~~Subordinated Amount 10,~~783~~149,~~753~~519.1858 ~~Ending~~LIBOR ~~Actual~~4.19125% ~~Collateral~~Swap ~~Balance~~Termination atPayments ~~29-Jul-2005~~0.00 ~~557,783,753~~Swap LIBOR 4.1819125% ~~Monthly~~Net ~~P&I~~Swap ~~Constant~~Payment 31,~~414~~711,~~290~~833.3697 ~~Special~~Net ~~Servicing~~Swap ~~Fee~~Receipt 01,838,788.0082 ~~Prepayment~~Cap ~~Penalties~~Agreement ~~73,636.84~~Payment ~~Realized~~(Class ~~Loss~~M) ~~Amount~~ 0.00 ~~Cumulative~~Cap ~~Realized~~Agreement ~~Loss~~Payment (Class B) 0.00 ~~Scheduled~~Misc ~~Principal~~Bond ~~342,895.71~~Adjustment ~~Unscheduled Principal 5,652,873~~0.9400

~~Miscellaneous~~LOAN ~~Reporting~~STATUS ~~Credit~~STRATIFICATION/CREDIT ~~Enhancement~~ENHANCEMENT ~~Percentage~~STATEMENT ~~18.499499%~~DELINQUENT ~~Delinquency~~BANKRUPTCY ~~Trigger~~FORECLOSURE ~~Event~~REO NOTOTAL ~~Cumulative~~No ~~Loss~~of ~~Trigger~~Loans ~~Event~~No NOof ~~Trigger~~Loans ~~Event~~No NOof ~~Stepdown~~Loans NONo ~~Total~~of ~~Monthly~~Loans ~~Excess~~No ~~Spread~~of ~~555~~Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 4 0 0 4 586,~~889~~209.6929 ~~Specified~~0.00 ~~Subordinated~~0.00 ~~Amount~~586,209.29 1030 Days 71 0 0 0 71 11,~~149~~954,~~519~~267.5898 ~~Subordinated~~0.00 ~~Deficiency~~0.00 ~~Amount~~ 0.00 ~~Extra~~11,954,267.98 ~~Principal~~60 ~~Distribution~~Days ~~Amount~~24 0 25 0 49 3,377,573.63 0.00 ~~Subordinated~~4,518,618.40 ~~Increase~~0.00 ~~Amount~~7,896,192.03 090 Days 12 1 15 2 30 2,223,196.74 101,814.93 3,206,947.76 209,696.43 5,741,655.86 120 Days 11 2 9 1 23 900,204.05 874,010.90 2,358,714.40 129,747.00 ~~Excess~~4,262,676.35 ~~Subordinated~~150 ~~Amount~~Days 5 1 4 3 13 1,018,545.52 138,400.00 800,455.93 445,509.94 2,402,911.39 180+ Days 0 2 4 1 7 0.00 ~~Subordinated~~147,472.15 ~~Reduction~~663,253.84 ~~Amount~~54,376.69 ~~679~~865,102.4268 ~~Subordinated~~Totals ~~Amount~~123 10 57 7 197 19,~~149~~473,~~519~~787.92 1,847,907.27 11,547,990.33 839,330.06 33,709,015.58 ~~LIBOR~~No 3of 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.~~48000~~159363% ~~Swap~~0.000000% ~~Termination~~0.000000% ~~Payments~~0.159363% 0.00122378% ~~Swap~~0.000000% ~~LIBOR~~0.000000% 30.~~48000~~122378% ~~Net~~30 ~~Swap~~Days ~~Payment~~2.828685% 0.000000% 0.000000% 0.000000% 2.828685% 2.495590% 0.000000% 0.000000% 0.000000% 2.495590% 60 Days 0.956175% 0.000000% 0.996016% 0.000000% 1~~,825,284~~.59952191% ~~Net~~0.705107% ~~Swap~~0.000000% ~~Receipt~~0.943313% 0.000000% 1~~,580,693~~.70648420% ~~Cap~~90 ~~Agreement~~Days ~~Payment~~0.478088% ~~(Class~~0.039841% M)0.597610% 0.00079681% ~~Cap~~1.195219% ~~Agreement~~0.464118% ~~Payment~~0.021255% ~~(Class~~0.669487% B)0.043777% 1.198636% 120 Days 0.00438247% ~~Misc~~0.079681% ~~Bond~~0.358566% ~~Adjustment~~0.039841% 0.00916335% 0.187928% 0.182460% 0.492409% 0.027086% 0.889882% 150 Days 0.199203% 0.039841% 0.159363% 0.119522% 0.517928% 0.212633% 0.028893% 0.167104% 0.093005% 0.501635% 180+ Days 0.000000% 0.079681% 0.159363% 0.039841% 0.278884% 0.000000% 0.030786% 0.138462% 0.011352% 0.180600% Totals 4.900398% 0.398406% 2.270916% 0.278884% 7.848606% 4.065376% 0.385772% 2.410775% 0.175220% 7.037142%

~~Group~~OTHER ~~Level~~INFORMATION ~~Collateral~~Current ~~Statement~~Period ~~Group~~Class ~~Group~~A 1Insufficient ~~Group~~Funds 2 Group 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.551708 6.456936 7.770800 Weighted Average Net Rate 7.051708 5.956936 7.270800 Weighted Average Maturity 354 354 354 Beginning Loan Count 696 1,782 144 Loans Paid In Full 0 ~~13 0 Ending Loan Count 696 1,769 144 Beginning Scheduled Balance 52,964,463~~.9900 ~~347,612,257.97~~Principal ~~23,836,656.53 Ending Scheduled~~ Balance ~~52,916,960.85~~of ~~344,552,281.26~~Contaminated ~~23,818,031.97~~Properties Record Date 07/29/2005 07/29/2005 07/29/2005 Principal And Interest Constant 380,402.06 2,076,212.93 172,972.80 Scheduled Principal 47,091.91 205,787.83 18,614.56 Unscheduled Principal 411.23 2,854,188.88 10.00 Scheduled Interest 333,310.15 1,870,425.10 154,358.24 Servicing Fees 22,068.53 144,838.44 9,931.94 Master Servicing Fees 0.00 ~~0.00~~Periodic ~~0.00~~Advance ~~Trustee Fee 88.27 579.35 39.73 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 22~~466,~~731~~329.16 203,763.79 7,087.80 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 288,422.19 1,521,243.52 137,298.77 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 6.534695 5.251265 6.91198287

~~Group~~SUBORDINATION ~~Level~~LEVEL/CREDIT ~~Collateral~~ENHANCEMENT/CLASS ~~Statement~~PERCENTAGE ~~Group~~AND ~~Group~~PREPAYMENT 4PERCENTAGE ~~Total~~Current ~~Collateral~~Original ~~Description~~$ ~~Fixed~~Original ~~15/30~~% &Current ~~ARM~~$ ~~Mixed~~Current ~~Fixed~~% &Class% ~~Arm~~Prepayment% ~~Weighted~~Class ~~Average~~M-1 ~~Coupon~~65,126,199.01 ~~Rate~~11.55002040% 665,125,519.~~141817~~58 613.~~537438~~60147815% ~~Weighted~~7.949048% ~~Average~~0.000000% ~~Net~~Class ~~Rate~~M-2 540,316,199.~~641817~~01 67.~~037511~~15000918% ~~Weighted Average Maturity 354 354 Beginning Loan Count 292 2~~40,~~914~~315,519.58 ~~Loans~~8.41990455% ~~Paid In Full~~ 5.181574% 180.000000% ~~Ending~~Class ~~Loan~~M-3 ~~Count 287 2~~32,~~896~~704,199.01 ~~Beginning~~5.80003396% ~~Scheduled Balance 139~~32,~~366~~703,~~144~~519.3458 ~~563,779,522~~6.8383013679% ~~Ending~~1.589768% ~~scheduled~~0.000000% ~~Balance~~Class ~~136~~B-1 27,~~496~~066,~~479~~199.1001 ~~557~~4.80014427% 27,~~783~~065,~~753~~519.1858 ~~Record~~5.65263933% ~~Date~~1.177497% ~~07/29/2005~~0.000000% ~~07/29/2005~~Class ~~Principal~~B-2 ~~And Interest Constant 784~~21,~~702~~427,199.5701 3.80007723% 21,~~414~~426,~~290~~519.3658 ~~Scheduled~~4.47493302% ~~Principal 71,401~~1.41177706% ~~342,895~~0.71000000% ~~Unscheduled~~Class ~~Principal~~B-3 215,~~798~~788,~~263~~199.8301 ~~5,652,873~~2.9480001019% ~~Scheduled Interest 713~~15,~~301~~787,519.1658 3~~,071,394~~.6529722671% ~~Servicing Fees 58,069~~1.23177706% ~~234,908~~0.14000000% ~~Master~~Class ~~Servicing~~B-4 ~~Fees 0~~10,150,199.0001 01.0080012050% ~~Trustee Fee 232~~10,149,519.2858 ~~939~~2.6311972925% ~~FRY Amount 0~~1.00177497% 0.00000000% ~~Special~~Class ~~Hazard~~X ~~Fee~~ 0.0001 0.0000000000% ~~Other Fee 67,102~~0.0301 ~~300,684~~0.7800000000% ~~Pool Insurance Fee 0~~2.00119729% 0.00000000% ~~Spread~~Class 1P 0.00 0.0000000000% ~~Spread 2~~ 0.00 0.0000000000% ~~Spread 3~~ 0.00000000% 0.00000000% ~~Net~~Class ~~Interest~~LT-R ~~587,897.62 2,534,862.10 Realized Loss Amount~~ 0.00 0.0000000000% ~~Cumulative Realized Loss~~ 0.00 0.0000000000% ~~Percentage of Cumulative Losses~~ 0.~~0000~~000000% 0.~~0000~~000000% ~~Prepayment~~Please ~~Penalties~~Refer ~~0.00~~to ~~0.00~~the ~~Special~~Prospectus ~~Servicing~~Supplement ~~Fee~~for ~~0.00~~a ~~0.00~~Full ~~Pass-Through~~Description ~~Rate~~of ~~5.062041~~Loss 5Exposure.~~395277~~

~~Prepayment~~180+ ~~Detail~~Delinquency -Summary ~~Prepayments~~Summary ~~during~~Days ~~Current~~Number ~~Period~~of ~~Summary~~Aggregate Percentage of Delinquent Loans ~~Paid~~Outstanding InBalance(%) ~~Full~~Balance($) ~~Repurchased~~180 ~~Loans~~- ~~Original~~209 ~~Current~~7 ~~Original~~865,102.68 ~~Current~~0.181 ~~Principal~~Total ~~Principal~~7 ~~Principal~~865,102.68 ~~Principal~~0.181 ~~Group~~This ~~Count~~report ~~Balance~~includes ~~Balance~~all ~~Count~~loans ~~Balance~~greater ~~Balance~~than ~~Total~~180 18days 5delinquent regardless of status (REO,~~661,400.00~~ 5Foreclosure,~~646,791.64~~ ~~0 0~~Bankruptcy).~~00 0.00~~

REO Detail - All Mortgage Loans in REO during Current Period

~~Prepayment~~Summary ~~Detail~~12 -Month ~~Prepayments~~REO ~~during~~History* ~~Current~~New ~~Period~~REO ~~(continued)~~Loans ~~Summary~~Month ~~Substitution~~REO Percentage Loans ~~Liquidated~~in ~~Loans~~REO ~~Curtailments~~4 ~~Original~~Jan-05 ~~Current~~0.000% Original ~~Current~~ Principal ~~Principal~~Balance ~~Principal~~394,605.00 ~~Principal~~Feb-05 ~~Curtailment~~0.000% ~~Group~~Current ~~Count~~Principal Balance ~~Balance~~393,820.12 ~~Count~~Mar-05 ~~Balance~~0.000% ~~Balance~~Apr-05 ~~Amount~~0.000% Current REO Total May-05 0.000% Loans in REO 7 Jun-05 0.000% Original Principal Balance 840,605.00 Jul-05 0.00000% Current Principal Balance 839,330.06 Aug-05 0.000% Sep-05 0.00000% Oct-05 0.00000% ~~8,575~~Nov-05 0.79091% Dec-05 0.175% *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.

~~Prepayment~~REO Loan Detail - ~~Prepayments~~All Mortgage Loans in REO during Current Period Month Loan First Original Loan Entered Payment LTV at ~~Payment~~ Principal ~~Prepayment~~ Group Number REO Date State Origination ~~Date~~ Balance ~~Amount~~ Group 21 ~~1000221347~~7000133728 AZNov-2005 ~~85.00~~ 01-Apr-2005 ~~187,000~~MI 20.00 ~~186~~30,~~380~~800.2400 Group 2 ~~1000224120~~5000134452 ~~FL 85.00 01~~Nov-~~Apr-~~2005 ~~272,000.00 271,075.22 Group 2 1000224502 FL 72.73~~ 01-Apr-2005 ~~168,000.00~~MD ~~167,045.83 Group 2 1000224551 CA~~ 80.00 ~~01-Apr-2005 280~~292,000.00 ~~278,827.53~~ Group 2 ~~1000225643~~5000134916 CADec-2005 ~~76.89~~ 01-Apr-2005 ~~284,500.00~~TX ~~284,500~~85.00 ~~Group 2 1000227301 MA 69.91 01-Apr-2005 402~~159,~~000~~205.00 ~~400,630.43~~ Group 2 ~~5000135507~~5000137691 ~~MA 80.00 01~~Dec-~~Apr-~~2005 ~~308,000.00 306,679.82 Group 2 5000138485 MI 80.00~~ 01-Apr-2005 ~~60,000.00 59,882.49 Group 2 7000127296~~ MO 80.00 ~~01-Feb-2005 125~~54,~~600~~400.00 ~~125,080.63~~ Group 2 ~~7000132898~~6000135381 ~~CA 80.00 01~~Dec-~~Mar-~~2005 ~~180,800.00 180,012.84 Group 2 7000134050 CA 80.00~~ 01-Apr-2005 ~~304,000.00~~GA ~~304,000.00 Group 2 8000028444 MA~~ 100.00 ~~01-Feb-2005 135~~130,000.00 ~~134,325.48~~ Group 2 ~~8000031248~~7000133696 ~~NJ 71.43 01~~Nov-~~Apr-~~2005 ~~150,000.00 149,626.88 Group 4 1000220195 CA 85.00~~ 01-Apr-2005 ~~620,500~~MI 80.00 ~~620~~123,~~500~~200.00 Group 42 ~~1000226088~~7000134257 ~~VA 90.00 01~~Dec-~~Apr-~~2005 ~~468,000.00 466,374.58 Group 4 7000135167 CA 90.00~~ 01-Apr-2005 ~~540,000.00~~MO ~~537,909~~85.~~81 Group 4 7000136634 MA 80.~~00 ~~01-Apr-2005 504~~51,000.00 ~~501,784.34 Group 4 8000035235 NJ 78.94 01-Apr-2005 672,000.00 669,662.03~~

~~Prepayment~~REO Loan Detail - ~~Prepayments~~All Mortgage Loans in REO during Current Period (continued) Current Paid Current Approximate Loan ~~PIF~~Principal To Months Loan ~~Original~~Delinquent Group Number ~~Type~~Balance Date Delinquent Rate ~~Term~~Interest ~~Seasoning~~ Group 21 ~~1000221347~~7000133728 ~~Loan Paid in Full 0 6~~30,777.~~990%~~24 ~~360~~01-May-2005 45 ~~Group 2 1000224120 Loan Paid in Full 0 8~~11.000% ~~360~~1,613.23 4 Group 2 ~~1000224502~~5000134452 ~~Loan~~291,711.60 ~~Paid~~01-May-2005 ~~in Full 0~~ 5 9.~~350~~500% ~~360 4 Group 2 1000224551 Loan Paid in Full 0 6~~13,099.~~950%~~00 ~~360 4~~ Group 2 ~~1000225643~~5000134916 ~~Loan Paid in Full 0 5~~158,815.~~550%~~09 ~~360~~01-Jul-2005 43 ~~Group 2 1000227301 Loan Paid in Full 0 7~~8.~~990~~500% ~~360 4 Group 2 5000135507 Loan Paid in Full 0~~ 5,146.~~650%~~23 ~~360 4~~ Group 2 ~~5000138485~~5000137691 ~~Loan~~54,376.69 ~~Paid~~01-Apr-2005 in6 ~~Full 0~~ 10.~~650~~150% ~~360 4 Group~~ 2 ~~7000127296 Loan Paid in Full 0 7~~,617.~~950%~~60 ~~360 6~~ Group 2 ~~7000132898~~6000135381 ~~Loan Paid in Full 0 7~~129,747.~~700%~~00 ~~360~~01-Jun-2005 ~~5 Group 2 7000134050 Loan Paid in Full 0 5.840% 360~~ 4 ~~Group 2 8000028444 Loan Paid in Full 0 7.800% 360 6 Group 2 8000031248 Loan Paid in Full 0~~ 8.~~450~~200% ~~360~~ 4 ~~Group 4 1000220195 Loan Paid in Full 0 6~~,984.~~500%~~77 ~~360 4~~ Group 42 ~~1000226088~~7000133696 ~~Loan Paid in Full 0 6~~123,021.~~750%~~10 ~~360~~01-May-2005 45 ~~Group 4 7000135167 Loan Paid in Full 0~~ 7.~~350~~650% ~~360~~ 4,277.09 Group 42 ~~7000136634~~7000134257 ~~Loan Paid in Full 0 6~~50,881.~~700%~~34 ~~360~~01-Jul-2005 43 ~~Group 4 8000035235 Loan Paid in Full 0 7~~8.~~900~~750% ~~360 4~~1,701.79

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Summary ~~SMM~~12 ~~CPR~~Month ~~PSA~~Foreclosure ~~Current~~History* ~~Month~~New ~~1.003%~~Foreclosure ~~Current~~Loans Month ~~11.397%~~Foreclosure ~~Current~~Percentage ~~Month~~Loans ~~1,319.755%~~in 3Foreclosure ~~Month~~29 ~~Average~~Jan-05 0.000% 3Original ~~Month~~Principal ~~Average~~Balance 05,622,230.~~000%~~00 3Feb-05 ~~Month Average~~ 0.000% 12Current ~~Month~~Principal ~~Average~~Balance 5,607,876.18 Mar-05 0.000% 12Apr-05 ~~Month Average~~ 0.000% 12Current ~~Month~~Foreclosure ~~Average~~Total May-05 0.000% ~~CPR:~~Loans ~~Current~~in vsForeclosure ~~12mo~~57 Average*Jun-05 ~~PSA:~~0.000% ~~Current~~Original vsPrincipal ~~12mo~~Balance Average*11,573,273.00 ~~Month~~Jul-05 ~~Current 12mo Avg~~0.000% ~~Month~~ Current ~~12mo~~Principal ~~Avg~~Balance 11,547,990.33 ~~Sep~~Aug-~~2004~~05 ~~N/A~~0.000% ~~N/A~~ Sep-~~2004~~05 ~~N/A~~0.000% ~~N/A~~ Oct-~~2004~~05 ~~N/A~~0.000% ~~N/A Oct-2004 N/A N/A~~ Nov-~~2004~~05 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 111.~~397~~695% ~~N/A Aug~~Dec-~~2005~~05 ~~1,319~~2.~~755~~411% ~~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))

Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period

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~~Jan-~~2004~~2005 N/A N/A ~~Sep~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Feb-~~2004~~2005 N/A N/A ~~Oct~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Mar-~~2004~~2005 N/A N/A ~~Nov~~Mar-~~2004~~2005 N/A N/A ~~Dec~~Apr-~~2004~~2005 N/A N/A ~~Dec~~Apr-~~2004~~2005 N/A N/A ~~Jan~~May-2005 N/A N/A ~~Jan~~May-2005 N/A N/A ~~Feb~~Jun-2005 N/A N/A ~~Feb~~Jun-2005 N/A N/A ~~Mar~~Jul-2005 N/A N/A ~~Mar~~Jul-2005 N/A N/A ~~Apr~~Aug-2005 ~~N/A~~0.000% N/A ~~Apr~~Aug-2005 ~~N/A~~0.000% N/A ~~May~~Sep-2005 ~~N/A~~0.000% N/A ~~May~~Sep-2005 ~~N/A~~0.000% N/A ~~Jun~~Oct-2005 ~~N/A~~0.000% N/A ~~Jun~~Oct-2005 ~~N/A~~0.000% N/A ~~Jul~~Nov-2005 ~~N/A~~0.000% N/A ~~Jul~~Nov-2005 ~~N/A~~0.000% N/A ~~Aug~~Dec-2005 0.000% N/A ~~Aug~~Dec-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 www. 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~~Jan-~~2004~~2005 N/A N/A ~~Sep~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Feb-~~2004~~2005 N/A N/A ~~Oct~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Mar-~~2004~~2005 N/A N/A ~~Nov~~Mar-~~2004~~2005 N/A N/A ~~Dec~~Apr-~~2004~~2005 N/A N/A ~~Dec~~Apr-~~2004~~2005 N/A N/A ~~Jan~~May-2005 N/A N/A ~~Jan~~May-2005 N/A N/A ~~Feb~~Jun-2005 N/A N/A ~~Feb~~Jun-2005 N/A N/A ~~Mar~~Jul-2005 N/A N/A ~~Mar~~Jul-2005 N/A N/A ~~Apr~~Aug-2005 ~~N/A~~0.000% N/A ~~Apr~~Aug-2005 ~~N/A~~0.000% N/A ~~May~~Sep-2005 ~~N/A~~0.000% N/A ~~May~~Sep-2005 ~~N/A~~0.000% N/A ~~Jun~~Oct-2005 ~~N/A~~0.000% N/A ~~Jun~~Oct-2005 ~~N/A~~0.000% N/A ~~Jul~~Nov-2005 ~~N/A~~0.000% N/A ~~Jul~~Nov-2005 ~~N/A~~0.000% N/A ~~Aug~~Dec-2005 0.000% N/A ~~Aug~~Dec-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 www. 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)

Prepayment - Voluntary Prepayments

Filing Compare · SABR TRUST 2005-FR3