8-K 1 bst05002_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 BEAR STEARNS ARM TRUST Mortgage-Backed Notes, Series 2005-2 (Exact name of registrant as specified in its charter) New York (governing law of 333-120916-05 Pooling and Servicing Agreement) (Commission 54-6654301 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On December 27, 2005 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage-Backed Notes, Series 2005-2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-2 Trust, relating to the 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. BEAR STEARNS ARM TRUST Mortgage-Backed Notes, Series 2005-2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 12/31/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-2 Trust, relating to the December 27, 2005 distribution. EX-99.1 Bear Stearns ARM Trust Mortgage-Backed Notes Record Date: 11/30/2005 Distribution Date: 12/27/2005 Bear Stearns ARM Trust Mortgage-Backed Notes Series 2005-2 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660

Bear Stearns ARM Trust Mortgage-Backed Notes Record Date: 8/31/2005 Distribution Date: 9/26/2005 Bear Stearns ARM Trust Mortgage-Backed Notes Series 2005-2 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary ~~Certificate~~Class CUSIP Certificate Beginning ~~Class~~Interest Pass-Through Certificate ~~Interest~~Distribution ~~Class CUSIP Description~~ Rate Balance ~~Distribution~~ A-1 07384M7C0 ~~SEN~~ 4.12500% 1,~~493~~402,~~966~~358,~~112~~883.6129 54,~~135~~820,~~508~~608.5166 A-2 07384M7D8 ~~SEN~~ 4.12500% ~~778~~733,~~059~~101,~~479~~690.5134 2,~~674~~520,~~579~~037.4606 A-3 07384M7M8 ~~SEN~~ 4.12500% 2221,~~567~~183,~~046~~277.9955 7772,~~574~~817.2252 A-4 07384M7N6 ~~SEN~~ 4.12500% 11,~~752~~073,~~171~~107.2393 4038,~~398~~063.0981 X-1 07384M7H9 ~~SEN~~ 0.~~05843~~05784% 0.00 ~~112~~104,~~301~~477.4598 B-1 07384M7E6 ~~SUB~~ 4.~~18343~~18284% 28,~~803~~720,~~769~~439.7170 100,~~415~~110.5696 B-2 07384M7F3 ~~SUB~~ 4.~~18343~~18284% 18,~~329~~276,~~599~~571.3234 63,~~900~~706.5673 B-3 07384M7G1 ~~SUB~~ 4.~~18343~~18284% 6,~~546~~527,~~406~~467.2230 22,~~822~~752.0582 B-4 07384M7J5 ~~SUB~~ 4.~~18343~~18284% 3,~~927~~916,~~764~~401.1806 13,~~692~~651.9542 B-5 07384M7K2 ~~SUB~~ 4.~~18343~~18284% 2,~~618~~610,~~542~~967.6009 9,~~128~~101.7506 B-6 07384M7L0 ~~SUB~~ 4.~~18343~~18284% 6,~~546~~527,~~458~~519.7569 22,~~822~~753.2300 Totals 2,~~373~~234,~~117~~296,~~351~~325.1229 87,~~273~~788,~~143~~081.8302

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 3224,~~095~~089,~~072~~117.7145 0.00 1,~~461~~378,~~871~~269,~~039~~765.9084 3728,~~230~~909,~~581~~726.2211 0.00 A-2 1710,~~264~~803,~~947~~318.9533 0.00 ~~760~~722,~~794~~298,~~531~~372.5501 1913,~~939~~323,~~527~~355.4139 0.00 A-3 ~~484~~363,~~810~~877.8723 0.00 2220,~~082~~819,~~236~~400.1232 ~~562~~436,~~385~~694.0975 0.00 A-4 ~~260~~163,~~777~~178.7833 0.00 1110,~~491~~909,~~393~~929.4560 ~~301~~201,~~175~~242.8714 0.00 X-1 0.00 0.00 0.00 ~~112~~104,~~301~~477.4598 0.00 B-1 2728,~~577~~166.4332 0.00 28,~~776~~692,~~192~~273.2839 ~~127~~128,~~992~~277.9928 0.00 B-2 17,~~549~~923.2095 0.00 18,~~312~~258,~~050~~647.1139 81,~~449~~630.7668 0.00 B-3 6,~~267~~401.6953 0.00 6,~~540~~521,~~138~~065.5378 29,~~089~~154.7435 0.00 B-4 3,~~760~~840.5484 0.00 3,~~924~~912,~~003~~560.6422 17,~~453~~492.4926 0.00 B-5 2,~~507~~560.0659 0.00 2,~~616~~608,~~035~~406.5450 11,~~635~~661.8165 0.00 B-6 6,~~267~~401.7458 0.00 6,~~540~~521,~~191~~118.0111 29,~~089~~154.9758 0.00 Totals 5035,~~169~~484,~~538~~786.9715 0.00 2,~~322~~198,~~947~~811,~~812~~539.1316 5843,~~442~~272,~~682~~867.8017 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-1 1,661,650,700.00 1,~~493~~402,~~966~~358,~~112~~883.6129 ~~972~~935,~~034~~540.4047 3123,~~123~~153,~~038~~576.3197 0.00 0.00 A-2 866,300,200.00 ~~778~~733,~~059~~101,~~479~~690.5134 1,~~205~~163,~~180~~437.2205 169,~~059~~639,~~767~~881.7328 0.00 0.00 A-3 25,100,000.00 2221,~~567~~183,~~046~~277.9955 14,~~683~~131.0377 ~~470~~349,~~127~~745.8446 0.00 0.00 A-4 13,085,000.00 11,~~752~~073,~~171~~107.2393 1817,~~203~~573.6009 ~~242~~145,~~574~~605.1824 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 B-1 28,966,100.00 28,~~803~~720,~~769~~439.7170 2728,~~577~~166.4332 0.00 0.00 0.00 B-2 18,432,900.00 18,~~329~~276,~~599~~571.3234 17,~~549~~923.2095 0.00 0.00 0.00 B-3 6,583,300.00 6,~~546~~527,~~406~~467.2230 6,~~267~~401.6953 0.00 0.00 0.00 B-4 3,949,900.00 3,~~927~~916,~~764~~401.1806 3,~~760~~840.5484 0.00 0.00 0.00 B-5 2,633,300.00 2,~~618~~610,~~542~~967.6009 2,~~507~~560.0659 0.00 0.00 0.00 B-6 6,583,352.83 6,~~546~~527,~~458~~519.7569 6,~~267~~401.7458 0.00 0.00 0.00 Totals 2,633,284,752.83 2,~~373~~234,~~117~~296,~~351~~325.1229 2,~~274~~195,~~030~~977.9119 4733,~~895~~288,~~508~~808.0695 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 3224,~~095~~089,~~072~~117.7145 1,~~461~~378,~~871~~269,~~039~~765.9084 0.~~87977036~~829458 3224,~~095~~089,~~072~~117.7145 A-2 1710,~~264~~803,~~947~~318.9533 ~~760~~722,~~794~~298,~~531~~372.5501 0.~~87821119~~833774 1710,~~264~~803,~~947~~318.9533 A-3 ~~484~~363,~~810~~877.8723 2220,~~082~~819,~~236~~400.1232 0.~~87977036~~829458 ~~484~~363,~~810~~877.8723 A-4 ~~260~~163,~~777~~178.7833 1110,~~491~~909,~~393~~929.4560 0.~~87821119~~833774 ~~260~~163,~~777~~178.7833 X-1 0.00 0.00 0.~~00000000~~000000 0.00 B-1 2728,~~577~~166.4332 28,~~776~~692,~~192~~273.2839 0.~~99344379~~990547 2728,~~577~~166.4332 B-2 17,~~549~~923.2095 18,~~312~~258,~~050~~647.1139 0.~~99344379~~990547 17,~~549~~923.2095 B-3 6,~~267~~401.6953 6,~~540~~521,~~138~~065.5378 0.~~99344379~~990547 6,~~267~~401.6953 B-4 3,~~760~~840.5484 3,~~924~~912,~~003~~560.6422 0.~~99344379~~990547 3,~~760~~840.5484 B-5 2,~~507~~560.0659 2,~~616~~608,~~035~~406.5450 0.~~99344379~~990547 2,~~507~~560.0659 B-6 6,~~267~~401.7458 6,~~540~~521,~~191~~118.0111 0.~~99344379~~990547 6,~~267~~401.7458 Totals 5035,~~169~~484,~~538~~786.9715 2,~~322~~198,~~947~~811,~~812~~539.1316 0.~~88214835~~835007 5035,~~169~~484,~~538~~786.9715

Principal Distribution Factors Statement Class Original Beginning Scheduled ~~Unscheduled~~UnScheduled Accretion Face Certificate Principal Principal ~~Class (2)~~ Amount Balance Distribution Distribution ~~Accretion~~ A-1 1,661,650,700.00 ~~899~~843.~~08553742~~955281 0.~~58498119~~563019 1813.~~73019300~~934082 0.~~00000000~~000000 A-2 866,300,200.00 ~~898~~846.~~14071324~~244397 1.~~39118082~~342995 1811.~~53834009~~127645 0.~~00000000~~000000 A-3 25,100,000.00 ~~899~~843.~~08553745~~955281 0.~~58498127~~563019 1813.~~73019283~~934082 0.~~00000000~~000000 A-4 13,085,000.00 ~~898~~846.~~14071303~~244397 1.~~39118074~~342995 1811.~~53834008~~127645 0.~~00000000~~000000 X-1 0.00 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 B-1 28,966,100.00 ~~994~~991.~~39585274~~519041 0.~~95205879~~972389 0.~~00000000~~000000 0.~~00000000~~000000 B-2 18,432,900.00 ~~994~~991.~~39585307~~519041 0.~~95205855~~972389 0.~~00000000~~000000 0.~~00000000~~000000 B-3 6,583,300.00 ~~994~~991.~~39585314~~519041 0.~~95205900~~972389 0.~~00000000~~000000 0.~~00000000~~000000 B-4 3,949,900.00 ~~994~~991.~~39585306~~519041 0.~~95205955~~972389 0.~~00000000~~000000 0.~~00000000~~000000 B-5 2,633,300.00 ~~994~~991.~~39585311~~519041 0.~~95206015~~972388 0.~~00000000~~000000 0.~~00000000~~000000 B-6 6,583,352.83 ~~994~~991.~~39585255~~519042 0.~~95205895~~972389 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 1914.~~31517419~~497101 ~~879~~829.~~77036323~~458180 0.~~87977036~~829458 1914.~~31517419~~497101 A-2 0.~~00000000~~000000 1912.~~92952091~~470640 ~~878~~833.~~21119232~~773756 0.~~87821119~~833774 1912.~~92952091~~470640 A-3 0.~~00000000~~000000 1914.~~31517410~~497101 ~~879~~829.~~77036335~~458180 0.~~87977036~~829458 1914.~~31517410~~497101 A-4 0.~~00000000~~000000 1912.~~92952083~~470640 ~~878~~833.~~21119220~~773756 0.~~87821119~~833774 1912.~~92952083~~470640 X-1 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 B-1 0.~~00000000~~000000 0.~~95205879~~972389 ~~993~~990.~~44379395~~546652 0.~~99344379~~990547 0.~~95205879~~972389 B-2 0.~~00000000~~000000 0.~~95205855~~972389 ~~993~~990.~~44379398~~546652 0.~~99344379~~990547 0.~~95205855~~972389 B-3 0.~~00000000~~000000 0.~~95205900~~972389 ~~993~~990.~~44379415~~546653 0.~~99344379~~990547 0.~~95205900~~972389 B-4 0.~~00000000~~000000 0.~~95205955~~972389 ~~993~~990.~~44379351~~546652 0.~~99344379~~990547 0.~~95205955~~972389 B-5 0.~~00000000~~000000 0.~~95206015~~972388 ~~993~~990.~~44379296~~546652 0.~~99344379~~990547 0.~~95206015~~972388 B-6 0.~~00000000~~000000 0.~~95205895~~972389 ~~993~~990.~~44379359~~546653 0.~~99344379~~990547 0.~~95205895~~972389 ~~(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-1 ~~1,661,650,700.00~~11/01/05 - 11/30/05 30 4.12500% 1,~~493~~402,~~966~~358,~~112~~883.6129 54,~~135~~820,~~508~~608.5166 0.00 ~~0.00~~ A-2 ~~866,300,200.00~~11/01/05 - 11/30/05 30 4.12500% ~~778~~733,~~059~~101,~~479~~690.5134 2,~~674~~520,~~579~~037.4606 0.00 ~~0.00~~ A-3 ~~25,100,000.00~~11/01/05 - 11/30/05 30 4.12500% 2221,~~567~~183,~~046~~277.9955 7772,~~574~~817.2252 0.00 ~~0.00~~ A-4 ~~13,085,000.00~~11/01/05 - 11/30/05 30 4.12500% 11,~~752~~073,~~171~~107.2393 4038,~~398~~063.0981 0.00 ~~0.00~~ X-1 ~~0.00~~11/01/05 - 11/30/05 30 0.~~05843~~05784% 2,~~306~~167,~~344~~716,~~810~~959.3312 ~~112~~104,~~301~~477.4598 0.00 ~~0.00~~ B-1 ~~28,966,100.00~~11/01/05 - 11/30/05 30 4.~~18343~~18284% 28,~~803~~720,~~769~~439.7170 100,~~415~~110.5696 0.00 ~~0.00~~ B-2 ~~18,432,900.00~~11/01/05 - 11/30/05 30 4.~~18343~~18284% 18,~~329~~276,~~599~~571.3234 63,~~900~~706.5673 0.00 ~~0.00~~ B-3 ~~6,583,300.00~~11/01/05 - 11/30/05 30 4.~~18343~~18284% 6,~~546~~527,~~406~~467.2230 22,~~822~~752.0582 0.00 ~~0.00~~ B-4 ~~3,949,900.00~~11/01/05 - 11/30/05 30 4.~~18343~~18284% 3,~~927~~916,~~764~~401.1806 13,~~692~~651.9542 0.00 ~~0.00~~ B-5 ~~2,633,300.00~~11/01/05 - 11/30/05 30 4.~~18343~~18284% 2,~~618~~610,~~542~~967.6009 9,~~128~~101.7506 0.00 ~~0.00~~ B-6 ~~6,583,352.83~~11/01/05 - 11/30/05 30 4.~~18343~~18284% 6,~~546~~527,~~458~~519.7569 22,~~822~~753.~~23 0.~~00 0.00 Totals 27,~~633~~788,~~284,752~~081.8302 ~~8,273,143.83~~ 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 54,~~135~~820,~~508~~608.5166 0.00 1,~~461~~378,~~871~~269,~~039~~765.9084 A-2 0.00 0.00 2,~~674~~520,~~579~~037.4606 0.00 ~~760~~722,~~794~~298,~~531~~372.5501 A-3 0.00 0.00 7772,~~574~~817.2252 0.00 2220,~~082~~819,~~236~~400.1232 A-4 0.00 0.00 4038,~~398~~063.0981 0.00 1110,~~491~~909,~~393~~929.4560 X-1 0.00 0.00 ~~112~~104,~~301~~477.4598 0.00 2,~~256~~132,~~239~~297,~~201~~467.0278 B-1 0.00 0.00 100,~~415~~110.5696 0.00 28,~~776~~692,~~192~~273.2839 B-2 0.00 0.00 63,~~900~~706.5673 0.00 18,~~312~~258,~~050~~647.1139 B-3 0.00 0.00 22,~~822~~752.0582 0.00 6,~~540~~521,~~138~~065.5378 B-4 0.00 0.00 13,~~692~~651.9542 0.00 3,~~924~~912,~~003~~560.6422 B-5 0.00 0.00 9,~~128~~101.7506 0.00 2,~~616~~608,~~035~~406.5450 B-6 0.00 0.00 22,~~822~~753.2300 0.00 6,~~540~~521,~~191~~118.0111 Totals 0.00 0.00 87,~~273~~788,~~143~~081.8302 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 1,661,650,700.00 4.12500% ~~899~~843.~~08553742~~955281 32.~~09060653~~901096 0.~~00000000~~000000 ~~0.00000000~~ A-2 11/01/05 - 11/30/05 866,300,200.00 4.12500% ~~898~~846.~~14071324~~244397 32.~~08735870~~908965 0.~~00000000~~000000 ~~0.00000000~~ A-3 11/01/05 - 11/30/05 25,100,000.00 4.12500% ~~899~~843.~~08553745~~955281 32.~~09060637~~901096 0.~~00000000~~000000 ~~0.00000000~~ A-4 11/01/05 - 11/30/05 13,085,000.00 4.12500% ~~898~~846.~~14071303~~244397 32.~~08735881~~908965 0.~~00000000~~000000 ~~0.00000000~~ X-1 11/01/05 - 11/30/05 0.00 0.~~05843~~05784% ~~898~~844.~~76175706~~739735 0.~~04376286~~040714 0.~~00000000~~000000 ~~0.00000000~~ B-1 11/01/05 - 11/30/05 28,966,100.00 4.~~18343~~18284% ~~994~~991.~~39585274~~519041 3.~~46665792~~456142 0.~~00000000~~000000 ~~0.00000000~~ B-2 11/01/05 - 11/30/05 18,432,900.00 4.~~18343~~18284% ~~994~~991.~~39585307~~519041 3.~~46665799~~456143 0.~~00000000~~000000 ~~0.00000000~~ B-3 11/01/05 - 11/30/05 6,583,300.00 4.~~18343~~18284% ~~994~~991.~~39585314~~519041 3.~~46665806~~456142 0.~~00000000~~000000 ~~0.00000000~~ B-4 11/01/05 - 11/30/05 3,949,900.00 4.~~18343~~18284% ~~994~~991.~~39585306~~519041 3.~~46665738~~456143 0.~~00000000~~000000 ~~0.00000000~~ B-5 11/01/05 - 11/30/05 2,633,300.00 4.~~18343~~18284% ~~994~~991.~~39585311~~519041 3.~~46665781~~456142 0.~~00000000~~000000 ~~0.00000000~~ B-6 11/01/05 - 11/30/05 6,583,352.83 4.~~18343~~18284% ~~994~~991.~~39585255~~519042 3.~~46665758~~456142 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 32.~~09060653~~901096 0.~~00000000~~000000 ~~879~~829.~~77036323~~458180 A-2 0.~~00000000~~000000 0.~~00000000~~000000 32.~~08735870~~908965 0.~~00000000~~000000 ~~878~~833.~~21119232~~773756 A-3 0.~~00000000~~000000 0.~~00000000~~000000 32.~~09060637~~901096 0.~~00000000~~000000 ~~879~~829.~~77036335~~458180 A-4 0.~~00000000~~000000 0.~~00000000~~000000 32.~~08735881~~908965 0.~~00000000~~000000 ~~878~~833.~~21119220~~773756 X-1 0.~~00000000~~000000 0.~~00000000~~000000 0.~~04376286~~040714 0.~~00000000~~000000 ~~879~~830.~~23605333~~937079 B-1 0.~~00000000~~000000 0.~~00000000~~000000 3.~~46665792~~456142 0.~~00000000~~000000 ~~993~~990.~~44379395~~546652 B-2 0.~~00000000~~000000 0.~~00000000~~000000 3.~~46665799~~456143 0.~~00000000~~000000 ~~993~~990.~~44379398~~546652 B-3 0.~~00000000~~000000 0.~~00000000~~000000 3.~~46665806~~456142 0.~~00000000~~000000 ~~993~~990.~~44379415~~546653 B-4 0.~~00000000~~000000 0.~~00000000~~000000 3.~~46665738~~456143 0.~~00000000~~000000 ~~993~~990.~~44379351~~546652 B-5 0.~~00000000~~000000 0.~~00000000~~000000 3.~~46665781~~456142 0.~~00000000~~000000 ~~993~~990.~~44379296~~546652 B-6 0.~~00000000~~000000 0.~~00000000~~000000 3.~~46665758~~456142 0.~~00000000~~000000 ~~993~~990.~~44379359~~546653 (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 ~~58,967,635.79~~Component ~~Liquidations,~~Component ~~Insurance~~Class ~~Proceeds,~~Rate ~~Reserve~~Balance ~~Funds~~Balance ~~0.00~~Balance Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 13,292.94 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 58,980,928.73 Withdrawals Reimbursement for Servicer Advances 43,846.48 Payment of Service Fee 494,399.45 Payment of Interest and Principal 58,442,682.80 Total Withdrawals (Pool Distribution Amount) 58,980,928.73 Ending Balance ~~0.00~~Percentage

~~SERVICING~~ADMINISTRATION FEES Gross Servicing Fee* ~~494~~465,~~399~~478.4540 Supported Prepayment/Curtailment Interest Shortfall 0.00 ~~Net~~Total ~~Servicing~~Administration ~~Fee~~Fees ~~494~~465,~~399~~478.4540 *Servicer Payees include: WELLS FARGO BANK, N.A.

~~LOAN~~COLLATERAL ~~STATUS STRATIFICATION/CREDIT ENHANCEMENT~~ STATEMENT ~~DELINQUENT~~Collateral ~~BANKRUPTCY~~Description ~~FORECLOSURE~~Mixed ~~REO~~ARM ~~Total~~Weighted NoAverage ofGross ~~Loans~~Coupon No4.432837% ofWeighted ~~Loans~~Average NoNet ofCoupon ~~Loans~~4.182837% NoWeighted ofAverage ~~Loans~~Pass-Through NoRate of4.182837% ~~Loans~~Weighted ~~Principal~~Average ~~Balance~~Remaining ~~Principal~~Term ~~Balance~~338 ~~Principal~~Beginning ~~Balance~~Scheduled ~~Principal~~Collateral ~~Balance~~Loan ~~Principal~~Count ~~Balance~~4,294 ~~0-29~~Number ~~Days~~Of 0Loans 0Paid 0In 0Full ~~0.00~~60 ~~0.00~~Ending ~~0.00~~Scheduled ~~0.00~~Collateral 30Loan ~~Days~~Count 64,234 0Beginning 0Scheduled 0Collateral 6Balance 32,~~358~~234,~~073~~296,324.7005 ~~0.00~~Ending ~~0.00~~Scheduled ~~0.00~~Collateral 3Balance 2,~~358~~198,~~073~~811,537.7091 60Ending ~~Days~~Actual 0Collateral 0Balance 0at 030-Nov-2005 ~~0 0~~2,200,516,373.0009 ~~0.00~~Monthly ~~0.00~~P&I ~~0.00~~Constant 010,449,536.0027 90Special ~~Days~~Servicing 0Fee 0 ~~0 0 0 0~~.00 ~~0.00~~Realized ~~0.00~~Loss ~~0.00~~Amount 0.00 ~~120~~Cumulative ~~Days~~Realized 0Loss 0 ~~0 0 0 0~~.00 ~~0.00~~Scheduled ~~0.00~~Principal ~~0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 6 0 0 0 6 3~~2,~~358~~195,~~073~~977.7019 ~~0.00~~Unscheduled ~~0.00~~Principal ~~0.00 3~~33,~~358~~288,~~073~~808.70 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 0.134771% 0.000000% 0.000000% 0.000000% 0.134771% 0.144454% 0.000000% 0.000000% 0.000000% 0.144454% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.134771% 0.000000% 0.000000% 0.000000% 0.134771% 0.144454% 0.000000% 0.000000% 0.000000% 0.144454%95

~~DELINQUENT~~Group ~~BANKRUPTCY~~Level ~~FORECLOSURE~~Collateral ~~REO~~Statement ~~Total~~Group Group 1 NoGroup of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 5 0 0 0 5 2~~,755,506.56~~ ~~0.00~~Total ~~0.00~~Collateral ~~0.00~~Description ~~2,755,506.56~~Mixed 60ARM ~~Days~~Mixed 0ARM 0Mixed 0ARM 0Weighted 0Average ~~0.00~~Coupon ~~0.00~~Rate 04.00434114 04.00430394 04.00432837 90Weighted ~~Days~~Average 0Net 0Rate ~~0 0 0 0~~4.00184114 04.00180394 04.00182837 ~~0.00~~Weighted ~~0.00~~Average ~~120~~Remaining ~~Days~~Term 0338 0337 0338 0Beginning 0Loan ~~0.00~~Count ~~0.00~~2,722 ~~0.00~~1,572 ~~0.00~~4,294 ~~0.00~~Loans ~~150~~Paid ~~Days~~In 0Full 040 020 060 0Ending ~~0.00~~Loan ~~0.00~~Count ~~0.00~~2,682 ~~0.00~~1,552 ~~0.00~~4,234 ~~180+~~Beginning ~~Days~~Scheduled 0Balance ~~0 0 0 0 0~~1,467,424,774.0054 0766,871,549.0051 02,234,296,324.0005 ~~0.00~~Ending ~~0.00~~Scheduled ~~Totals~~Balance ~~5 0 0 0 5 2~~1,~~755~~442,~~506~~942,504.5694 0755,869,032.0097 ~~0.00 0.00~~ 2,~~755~~198,~~506~~811,537.5691 ~~0-29~~Record ~~Days~~Date ~~0.000000%~~11/30/2005 ~~0.000000%~~11/30/2005 ~~0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%~~ 11/30/2005 ~~Days~~Principal ~~0.176866%~~And ~~0.000000%~~Interest ~~0.000000%~~Constant 06,401,220.~~000000%~~59 04,048,315.~~176866%~~68 010,449,536.~~180256%~~27 ~~0.000000%~~Scheduled ~~0.000000%~~Principal 0978,947.~~000000%~~17 01,217,030.~~180256%~~02 ~~60 Days 0~~2,195,977.~~000000%~~19 ~~0.000000%~~Unscheduled ~~0.000000%~~Principal 023,503,322.~~000000%~~43 09,785,486.~~000000%~~52 033,288,808.~~000000%~~95 ~~0.000000%~~Scheduled ~~0.000000%~~Interest 05,422,273.~~000000%~~42 02,831,285.~~000000%~~66 ~~90 Days 0~~8,253,559.~~000000%~~08 ~~0.000000%~~Servicing ~~0.000000%~~Fee 0305,713.~~000000%~~49 0159,764.~~000000%~~91 0465,478.~~000000%~~40 ~~0.000000%~~Master ~~0.000000%~~Servicing ~~0.000000%~~Fee 0.~~000000%~~00 ~~120 Days~~ 0.~~000000%~~00 0.~~000000%~~00 ~~0.000000%~~Trustee ~~0.000000%~~Fee 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.176866% 0.000000% 0.000000% 0.000000% 0.176866% 0.180256% 0.000000% 0.000000% 0.000000% 0.180256% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 ~~0.00~~FRY 30Amount ~~Days 1~~ 0 ~~0 0 1 602,567~~.~~14 0.~~00 0.00 0.00 ~~602,567.14~~Special 60Hazard ~~Days~~Fee 0 ~~0 0 0 0 0~~.00 0.00 0.00 ~~0.00~~Other ~~0.00~~Fee ~~90 Days~~ 0 ~~0 0 0 0 0~~.00 0.00 0.00 ~~0.00~~Pool ~~0.00~~Insurance ~~120~~Fee ~~Days~~ 0 ~~0 0 0 0 0~~.00 0.00 0.00 ~~0.00~~Spread ~~0.00~~1 ~~150 Days~~ 0 ~~0 0 0 0 0~~.00 0.00 0.00 ~~0.00~~Spread ~~0.00~~2 ~~180+ Days~~ 0 ~~0 0 0 0 0~~.00 0.00 0.00 ~~0.00~~Spread ~~0.00~~3 ~~Totals 1~~ 0 ~~0 0 1 602,567~~.~~14 0.~~00 0.00 0.00 ~~602,567.14~~Net ~~0-29~~Interest ~~Days 0~~5,116,559.~~000000%~~93 02,671,520.~~000000%~~75 07,788,080.~~000000%~~68 ~~0.000000%~~Realized ~~0.000000%~~Loss ~~0.000000%~~Amount 0.~~000000%~~00 0.~~000000%~~00 ~~30 Days~~ 0.~~061538%~~00 ~~0.000000%~~Cumulative ~~0.000000%~~Realized ~~0.000000%~~Loss 0.~~061538%~~00 0.~~075699%~~00 0.~~000000%~~00 ~~0.000000%~~Percentage ~~0.000000%~~of ~~0.075699%~~Cumulative 60Losses ~~Days~~ 0.~~000000%~~0000 0.~~000000%~~0000 0.~~000000%~~0000 ~~0.000000%~~Special ~~0.000000%~~Servicing ~~0.000000%~~Fee 0.~~000000%~~00 0.~~000000%~~00 0.~~000000%~~00 ~~0.000000%~~Pass-Through 90Rate ~~Days 0~~4.~~000000%~~184114 04.~~000000%~~180394 04.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.061538% 0.000000% 0.000000% 0.000000% 0.061538% 0.075699% 0.000000% 0.000000% 0.000000% 0.075699%182837

~~OTHER~~Additional ~~INFORMATION~~Reporting ~~Current~~- ~~Period~~Deal ~~Class~~Level AMiscellaneous ~~Insufficient~~Reporting ~~Funds~~Senior 0Percentage Group I 97.00009550% ~~Principal~~Senior ~~Balance~~Percentage ofGroup ~~Contaminated~~II ~~Properties~~97.040346% Senior Prep. Percentage Group I 100.000000% Senior Prep. Percentage Group II 100.000000% Subordinate Percentage Group I 2.990450% Subordinate Percentage Group II 2.959654% Subordinate Prep. Percentage Group I 0.00000000% ~~Periodic~~Subordinate ~~Advance~~Prep. ~~13,292~~Percentage Group II 0.94000000%

~~Summary~~LOAN 12STATUS ~~Month~~STRATIFICATION/CREDIT ~~REO~~ENHANCEMENT History*STATEMENT ~~New~~DELINQUENT BANKRUPTCY FORECLOSURE REO TOTAL No of Loans ~~Month~~No ~~REO~~of ~~Percentage~~Loans No of Loans inNo ~~REO~~of 0Loans ~~Oct-04~~No ~~0.000%~~of ~~Original~~Loans Principal Balance ~~0.00~~Principal ~~Nov-04~~Balance ~~0.000%~~Principal ~~Current~~Balance Principal Balance ~~0.00~~Principal ~~Dec-04~~Balance 0~~.000% Jan~~-0529 Days 0~~.000%~~ ~~Current~~0 ~~REO~~0 ~~Total~~0 ~~Feb-05~~ 0.~~000%~~00 ~~Loans in REO~~ 0.00 ~~Mar-05~~ 0.~~000%~~00 ~~Original Principal Balance~~ 0.00 ~~Apr-05~~30 Days 0~~.000%~~ ~~Current~~0 ~~Principal~~0 ~~Balance~~0 0~~.00~~ ~~May-05~~ 0.~~000%~~00 ~~Jun-05~~ 0.~~000%~~00 ~~Jul-05~~ 0.~~000%~~00 ~~Aug-05~~ 0.~~000%~~00 ~~Sep-05~~ 0.~~000%~~00 *The60 ~~text~~Days ~~reported~~2 in0 ~~the~~0 ~~above~~0 ~~table~~2 is1,542,203.82 ~~presented~~0.00 ~~graphically~~0.00 on0.00 ~~the monthly bond remittance report~~1,542,203.82 ~~The~~90 ~~monthly~~Days ~~bond~~0 ~~remittance~~0 ~~report~~0 ~~can~~0 be0 ~~viewed~~0.00 ~~online~~0.00 at0.00 ~~www~~0.~~ctslink~~00 0.~~com.~~00 ~~Group~~120 1Days 120 ~~Month~~0 ~~REO~~0 History*0 ~~New~~0 ~~REO~~0.00 ~~Loans~~0.00 ~~Month~~0.00 ~~REO~~0.00 ~~Percentage~~0.00 ~~Loans~~150 inDays ~~REO~~0 0 ~~Oct-04~~0 0~~.000%~~ ~~Original~~0 ~~Principal Balance~~ 0.00 ~~Nov-04~~ 0.~~000%~~00 ~~Current Principal Balance~~ 0.00 ~~Dec-04~~ 0.~~000%~~00 ~~Jan-05~~ 0.~~000%~~00 ~~Current~~180+ ~~REO~~Days ~~Total~~0 ~~Feb-05~~0 0~~.000%~~ ~~Loans~~0 in0 ~~REO~~ 0.00 ~~Mar-05~~ 0.~~000%~~00 ~~Original Principal Balance~~ 0.00 ~~Apr-05~~ 0.~~000%~~00 ~~Current Principal Balance~~ 0.00 ~~May-05~~Totals 2 0~~.000%~~ ~~Jun-05~~0 0~~.000%~~ ~~Jul-05~~2 1,542,203.82 0.~~000%~~00 ~~Aug-05~~ 0.~~000%~~00 ~~Sep-05~~ 0.~~000%~~00 *The1,542,203.82 ~~text~~No ~~reported~~of inLoans ~~the~~No ~~above~~of ~~table~~Loans isNo ~~presented~~of ~~graphically~~Loans onNo ~~the~~of ~~monthly~~Loans ~~bond~~No ~~remittance~~of ~~report.~~Loans ~~The~~Principal ~~monthly~~Balance ~~bond~~Principal ~~remittance~~Balance ~~report~~Principal ~~can~~Balance bePrincipal ~~viewed~~Balance ~~online~~Principal atBalance ~~www~~0-29 Days 0.~~ctslink~~000000% 0.~~com~~000000% 0.000000% ~~Group~~0.000000% 20.000000% 120.000000% ~~Month~~0.000000% ~~REO~~0.000000% History*30 ~~New~~Days ~~REO~~0.000000% ~~Loans~~0.000000% ~~Month~~0.000000% ~~REO~~0.000000% ~~Percentage~~0.000000% ~~Loans~~0.000000% in0.000000% ~~REO~~0.000000% 0.000000% ~~Oct-04~~ 0.~~000~~000000% ~~Original~~60 ~~Principal~~Days ~~Balance~~0.047237% 0.00000000% ~~Nov-04~~0.000000% 0.~~000~~000000% ~~Current~~0.047237% ~~Principal~~0.070084% ~~Balance~~0.000000% 0.00000000% ~~Dec-04~~ 0.~~000~~000000% ~~Jan-05~~ 0.~~000~~070084% ~~Current~~90 ~~REO~~Days ~~Total~~0.000000% ~~Feb-05~~0.000000% 0.~~000~~000000% ~~Loans~~0.000000% in0.000000% ~~REO~~0.000000% 0.000000% ~~Mar-05~~0.000000% 0.~~000~~000000% ~~Original~~0.000000% ~~Principal~~120 ~~Balance~~Days 0.00000000% ~~Apr-05~~0.000000% 0.~~000~~000000% ~~Current~~0.000000% ~~Principal~~0.000000% ~~Balance~~0.000000% 0.00000000% ~~May-05~~0.000000% 0.~~000~~000000% ~~Jun-05~~ 0.~~000~~000000% ~~Jul-05~~150 Days 0.~~000~~000000% ~~Aug-05~~0.000000% 0.~~000~~000000% ~~Sep-05~~0.000000% 0.~~000~~000000% *The0.000000% ~~text~~0.000000% ~~reported~~0.000000% in0.000000% ~~the~~0.000000% ~~above~~180+ ~~table~~Days is0.000000% ~~presented~~0.000000% ~~graphically~~0.000000% on0.000000% ~~the~~0.000000% ~~monthly~~0.000000% ~~bond~~0.000000% ~~remittance~~0.000000% ~~report~~0.000000% ~~The~~0.000000% ~~monthly~~Totals ~~bond~~0.047237% ~~remittance~~0.000000% ~~report~~0.000000% ~~can~~0.000000% be0.047237% ~~viewed~~0.070084% ~~online~~0.000000% at0.000000% ~~www~~0.~~ctslink~~000000% 0.~~com.~~070084%

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

Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period

~~COLLATERAL~~Summary ~~STATEMENT~~12 ~~Collateral~~Month ~~Description~~Bankruptcy ~~Mixed~~History* ~~ARM~~New ~~Weighted~~Bankruptcy ~~Average~~Loans ~~Gross~~Month ~~Coupon~~Bankruptcy 4Percentage Loans in Bankruptcy 0 Jan-05 0.~~433431~~000% ~~Weighted~~Original ~~Average~~Principal ~~Net~~Balance ~~Coupon~~0.00 4Feb-05 0.~~183431~~000% ~~Weighted~~Current ~~Average~~Principal ~~Pass~~Balance 0.00 Mar-~~Through~~05 ~~Rate~~0.000% 4Apr-05 0.~~183431~~000% ~~Weighted~~Current ~~Average~~Bankruptcy ~~Maturity(Stepdown~~Total ~~Calculation)~~May-05 ~~340~~0.000% ~~Beginning~~Loans ~~Scheduled~~in ~~Collateral~~Bankruptcy ~~Loan~~0 ~~Count~~Jun-05 ~~4,543~~0.000% ~~Number~~Original OfPrincipal ~~Loans~~Balance ~~Paid~~0.00 InJul-05 ~~Full~~0.000% 91Current ~~Ending~~Principal ~~Scheduled~~Balance ~~Collateral~~0.00 ~~Loan~~Aug-05 ~~Count~~0.000% ~~4,452~~Sep-05 ~~Beginning~~0.000% ~~Scheduled~~Oct-05 ~~Collateral~~0.000% ~~Balance~~Nov-05 ~~2,373,117,349~~0.86000% ~~Ending~~Dec-05 ~~Scheduled~~0.000% ~~Collateral~~*The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 1 12 Month Bankruptcy History* New Bankruptcy Loans Month Bankruptcy Percentage Loans in Bankruptcy 0 Jan-05 0.000% Original Principal Balance ~~2,322,947,810~~0.8900 ~~Ending~~Feb-05 ~~Actual~~0.000% ~~Collateral~~Current Principal Balance at0.00 31Mar-~~Aug~~05 0.000% Apr-~~2005~~05 ~~2,324,674,293~~0.57000% ~~Monthly~~Current ~~P&I~~Bankruptcy ~~Constant~~Total ~~11,040,787~~May-05 0.63000% ~~Special~~Loans ~~Servicing~~in ~~Fee~~Bankruptcy 0 Jun-05 0.000% Original Principal Balance 0.00 ~~Prepayment~~Jul-05 ~~Penalties~~0.000% Current Principal Balance 0.00 ~~Realized~~Aug-05 ~~Loss~~0.000% ~~Amount~~Sep-05 0.000% Oct-05 0.000% Nov-05 0.000% Dec-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. Group 2 12 Month Bankruptcy History* New Bankruptcy Loans Month Bankruptcy Percentage Loans in Bankruptcy 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Cumulative~~Feb-05 ~~Realized~~0.000% ~~Loss~~Current Principal Balance 0.00 ~~Scheduled~~Mar-05 0.000% Apr-05 0.000% Current Bankruptcy Total May-05 0.000% Loans in Bankruptcy 0 Jun-05 0.000% Original Principal ~~2,273,244~~Balance 0.2400 ~~Unscheduled~~Jul-05 0.000% Current Principal ~~47,896,294~~Balance 0.7300 Aug-05 0.000% Sep-05 0.000% Oct-05 0.000% Nov-05 0.000% Dec-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

~~Miscellaneous~~Bankruptcy ~~Reporting~~Detail ~~Senior~~- ~~Percentage~~All ~~Group~~Mortgage ILoans ~~97.182381%~~in ~~Senior~~Bankruptcy ~~Percentage~~during ~~Group~~Current IIPeriod ~~97.193811% Senior Prep. Percentage~~ Group ILoan ~~100.000000%~~Month ~~Senior~~Loan ~~Prep.~~First ~~Percentage~~State ~~Group~~LTV IIat ~~100.000000%~~Original ~~Subordinate~~Number ~~Percentage~~Entered ~~Group~~Payment IOrigination ~~2.817619%~~Principal ~~Subordinate~~Bankruptcy ~~Percentage~~Date ~~Group~~Balance IINo ~~2.806189%~~Bankruptcy ~~Subordinate~~Loans ~~Prep.~~this ~~Percentage Group I 0.000000% Subordinate Prep. Percentage Group II 0.000000%~~Period

~~Group~~Bankruptcy ~~Level~~Detail ~~Collateral~~- ~~Statement~~All ~~Group~~Mortgage ~~Group~~Loans 1in ~~Group~~Bankruptcy 2during ~~Total~~Current ~~Collateral~~Period ~~Description~~(continued) ~~Mixed~~Group ~~ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.434607 4.431172 4.433431 Weighted Average Net Rate 4.184607 4.181172 4.183431 Weighted Average Maturity 340 339 340 Beginning~~ Loan ~~Count~~Current ~~2,886~~Paid ~~1,657~~To ~~4,543~~Months ~~Loans~~Current ~~Paid~~Approximate InNumber ~~Full~~Principal 59Date 32Delinquent ~~91 Ending~~ Loan ~~Count~~Rate ~~2,827~~Delinquent ~~1,625 4,452 Beginning Scheduled~~ Balance ~~1,560,502,175.51 812,615,174.35 2,373,117,349.86 Ending Scheduled Balance 1,527,893,683.93 795,054,126.96 2,322,947,810.89 Record Date 08/31/2005 08/31/2005 08/31/2005 Principal And~~ Interest ~~Constant~~No ~~6,781,383.92~~Bankruptcy ~~4,259,403.71~~Loans ~~11,040,787.63~~this Scheduled Principal 1,014,538.76 1,258,705.48 2,273,244.24 Unscheduled Principal 31,593,952.82 16,302,341.91 47,896,294.73 Scheduled Interest 5,766,845.16 3,000,698.23 8,767,543.39 Servicing Fees 325,104.62 169,294.83 494,399.45 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 5,441,740.54 2,831,403.40 8,273,143.94 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 4.184607 4.181172 4.183431Period

Prepayment Detail - Prepayments during Current Period Summary Loans Paid In Full Repurchased Loans Original Current Original Current Principal Principal Principal Principal Group Count Balance Balance Count Balance Balance Group 1 59 30,955,760.00 30,448,601.78 0 0.00 0.00 Group 2 32 16,077,091.00 15,461,905.89 0 0.00 0.00 Total 91 47,032,851.00 45,910,507.67 0 0.00 0.00

Prepayment Detail - Prepayments during Current Period (continued) Summary Substitution Loans Liquidated Loans Curtailments Original Current Original Current Principal Principal Principal Principal Curtailment Group Count Balance Balance Count Balance Balance Amount Group 1 0 0.00 0.00 0 0.00 0.00 1,165,854.34 Group 2 0 0.00 0.00 0 0.00 0.00 864,063.04 Total 0 0.00 0.00 0 0.00 0.00 2,029,917.38

Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Group 1 0000517358 NM 80.00 01-Sep-2003 448,000.00 433,213.48 Group 1 0027472091 WA 80.00 01-Aug-2003 415,200.00 400,297.45 Group 1 0029850286 MI 42.04 01-Nov-2003 840,720.00 813,467.46 Group 1 0029851755 VA 80.00 01-Oct-2003 476,000.00 476,000.00 Group 1 0030001259 CT 64.55 01-Oct-2003 361,500.00 349,568.41 Group 1 0030134852 AZ 70.76 01-Sep-2003 460,000.00 460,000.00 Group 1 0031474588 MN 80.00 01-Sep-2003 481,350.00 481,350.00 Group 1 0038166914 MD 80.00 01-Mar-2004 480,000.00 467,572.61 Group 1 0038521175 CA 61.86 01-May-2004 989,920.00 898,086.23 Group 1 0038926499 IL 75.00 01-May-2004 684,750.00 684,750.00 Group 1 0039326129 WA 80.00 01-May-2004 536,000.00 536,000.00 Group 1 0039476783 CA 71.38 01-May-2004 489,000.00 477,718.39 Group 1 0039587936 CA 67.61 01-May-2004 406,000.00 395,797.86 Group 1 0039607312 CA 69.88 01-May-2004 426,300.00 416,464.90 Group 1 0039640826 FL 70.00 01-May-2004 468,300.00 468,300.00 Group 1 0039658455 NJ 80.00 01-May-2004 479,920.00 468,847.92 Group 1 0039660196 CA 77.33 01-Jun-2004 498,750.00 487,593.54 Group 1 0039752787 CA 80.00 01-May-2004 376,000.00 376,000.00 Group 1 0039759378 IL 69.75 01-May-2004 544,050.00 531,498.30 Group 1 0039763438 NJ 77.36 01-May-2004 410,000.00 409,992.12 Group 1 0039796321 VA 66.16 01-May-2004 397,000.00 387,638.96 Group 1 0040012155 DC 76.47 01-May-2004 650,000.00 650,000.00 Group 1 0040643579 AZ 80.00 01-May-2004 544,000.00 543,809.09 Group 1 0041118076 GA 72.19 01-Jun-2004 613,700.00 600,399.41 Group 1 0128337532 TX 78.79 01-Aug-2003 618,500.00 595,970.14 Group 1 0129195368 NJ 70.00 01-Oct-2003 665,000.00 661,801.04 Group 1 0130309503 CA 58.61 01-Sep-2003 381,000.00 367,771.97 Group 1 0130393473 CA 80.00 01-Aug-2003 447,400.00 425,780.60 Group 1 0130530637 IL 71.83 01-Nov-2003 668,000.00 668,000.00 Group 1 0130552284 CA 65.31 01-Oct-2003 405,000.00 404,474.02 Group 1 0130557739 CA 71.19 01-Oct-2003 630,000.00 629,385.16 Group 1 0130684962 VA 80.00 01-Oct-2003 743,200.00 739,070.46 Group 1 0132268657 CA 69.72 01-Nov-2003 495,000.00 495,000.00 Group 1 0132977208 CA 80.00 01-Dec-2003 471,200.00 471,200.00 Group 1 0134695964 DC 60.84 01-May-2004 642,000.00 641,940.11 Group 1 0135022051 CA 71.31 01-May-2004 490,000.00 478,446.06 Group 1 0135206605 MA 80.00 01-Apr-2004 404,000.00 392,258.24 Group 1 0135313419 CA 31.32 01-Apr-2004 470,000.00 470,000.00 Group 1 0135394237 CA 64.86 01-May-2004 607,000.00 607,000.00 Group 1 0135559904 CA 46.38 01-May-2004 382,750.00 372,781.83 Group 1 0135652865 CA 68.18 01-May-2004 600,000.00 585,852.11 Group 1 0135676575 CA 69.48 01-May-2004 410,000.00 410,000.00 Group 1 0135708709 CA 56.75 01-May-2004 521,000.00 508,714.99 Group 1 0135748887 CA 80.00 01-Apr-2004 440,000.00 439,997.49 Group 1 0135768901 CA 55.16 01-May-2004 800,000.00 781,543.17 Group 1 0135887123 CA 70.00 01-May-2004 427,000.00 420,860.74 Group 1 0135908408 CA 70.93 01-Jun-2004 649,000.00 648,103.17 Group 1 0135923258 FL 80.00 01-Jun-2004 480,000.00 479,909.58 Group 1 0136142619 CA 68.63 01-Jun-2004 453,000.00 442,727.55 Group 1 0136211356 CA 80.00 01-May-2004 384,000.00 384,000.00 Group 1 0136270055 CA 68.00 01-Jun-2004 986,000.00 986,000.00 Group 1 0136408093 CA 67.47 01-Jun-2004 560,000.00 560,000.00 Group 1 0136773991 CA 63.33 01-Jun-2004 418,000.00 408,740.44 Group 1 0138253414 GA 80.00 01-Oct-2004 408,000.00 408,000.00 Group 1 0224452102 CA 79.86 01-Aug-2003 460,000.00 443,489.34 Group 1 0224736975 CA 62.95 01-Aug-2003 598,000.00 576,370.02 Group 1 0224883942 CA 71.12 01-Aug-2003 462,250.00 445,300.91 Group 1 0225218718 CA 28.61 01-Sep-2003 472,000.00 455,270.76 Group 1 0226358141 WI 66.30 01-Oct-2003 431,000.00 407,972.45 Group 2 0126168715 CA 80.00 01-Mar-2003 940,000.00 899,387.80 Group 2 0127500411 NJ 75.56 01-May-2003 400,000.00 383,748.41 Group 2 0128317146 IL 47.88 01-Jul-2003 455,000.00 438,008.53 Group 2 0128546371 OR 67.86 01-Aug-2003 984,000.00 948,682.08 Group 2 0128555174 MD 38.59 01-Jun-2003 525,000.00 504,604.05 Group 2 0129511879 CA 52.79 01-Aug-2003 415,000.00 393,321.49 Group 2 0129667259 CA 69.41 01-Aug-2003 420,000.00 404,516.78 Group 2 0130049653 CA 69.05 01-Sep-2003 473,000.00 456,706.95 Group 2 0130089493 CA 73.86 01-Aug-2003 421,000.00 405,889.22 Group 2 0130097132 WA 70.62 01-Aug-2003 445,000.00 428,683.57 Group 2 0130309529 NJ 80.00 01-Sep-2003 372,800.00 359,680.75 Group 2 0130330855 VA 64.22 01-Jul-2003 594,000.00 571,176.09 Group 2 0130380041 CA 77.12 01-Sep-2003 425,000.00 409,235.02 Group 2 0130426455 CA 52.16 01-Oct-2003 385,000.00 372,017.44 Group 2 0130526833 CA 46.95 01-Oct-2003 427,300.00 412,890.98 Group 2 0130542426 CA 61.63 01-Sep-2003 450,000.00 341,337.92 Group 2 0130697436 CA 40.00 01-Sep-2003 500,000.00 479,143.99 Group 2 0130731748 CA 65.62 01-Oct-2003 472,500.00 445,051.71 Group 2 0130774144 CA 28.70 01-Nov-2003 807,000.00 781,522.44 Group 2 0130898067 CA 51.65 01-Oct-2003 671,500.00 648,856.23 Group 2 0131206088 PA 80.00 01-Dec-2003 396,000.00 384,064.20 Group 2 0131333866 CA 79.91 01-Sep-2003 391,500.00 378,014.38 Group 2 0131370579 CA 80.00 01-Oct-2003 388,800.00 375,689.12 Group 2 0133040352 CA 67.08 01-Apr-2004 436,000.00 425,329.20 Group 2 0133546473 MN 80.00 01-Jan-2004 360,000.00 349,563.88 Group 2 0135521979 CA 45.70 01-May-2004 393,000.00 383,933.03 Group 2 0135624484 CA 74.83 01-May-2004 479,000.00 467,705.31 Group 2 0135787257 FL 66.04 01-Jul-2004 634,000.00 621,142.53 Group 2 0135787604 CA 75.87 01-May-2004 368,000.00 357,581.30 Group 2 0135911881 CA 57.59 01-May-2004 432,000.00 422,033.24 Group 2 0135963924 CA 70.00 01-Jun-2004 840,000.00 821,392.44 Group 2 0136243086 CA 80.00 01-Jun-2004 375,691.00 367,368.79

Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning Group 1 0000517358 Loan Paid in Full 0 4.500% 360 24 Group 1 0027472091 Loan Paid in Full 0 4.500% 360 25 Group 1 0029850286 Loan Paid in Full 0 4.500% 360 22 Group 1 0029851755 Loan Paid in Full 0 4.500% 360 23 Group 1 0030001259 Loan Paid in Full 0 4.500% 360 23 Group 1 0030134852 Loan Paid in Full 0 4.500% 360 24 Group 1 0031474588 Loan Paid in Full 0 4.500% 360 24 Group 1 0038166914 Loan Paid in Full 0 4.500% 360 18 Group 1 0038521175 Loan Paid in Full 0 4.500% 360 16 Group 1 0038926499 Loan Paid in Full 0 4.500% 360 16 Group 1 0039326129 Loan Paid in Full 0 4.375% 360 16 Group 1 0039476783 Loan Paid in Full 0 4.500% 360 16 Group 1 0039587936 Loan Paid in Full 0 4.500% 360 16 Group 1 0039607312 Loan Paid in Full 0 4.500% 360 16 Group 1 0039640826 Loan Paid in Full 0 4.500% 360 16 Group 1 0039658455 Loan Paid in Full 0 4.500% 360 16 Group 1 0039660196 Loan Paid in Full (1) 4.500% 360 15 Group 1 0039752787 Loan Paid in Full (1) 4.500% 360 16 Group 1 0039759378 Loan Paid in Full 0 4.500% 360 16 Group 1 0039763438 Loan Paid in Full 0 4.375% 360 16 Group 1 0039796321 Loan Paid in Full 0 4.375% 360 16 Group 1 0040012155 Loan Paid in Full 0 4.375% 360 16 Group 1 0040643579 Loan Paid in Full 0 4.500% 360 16 Group 1 0041118076 Loan Paid in Full 0 4.500% 360 15 Group 1 0128337532 Loan Paid in Full 0 4.500% 360 25 Group 1 0129195368 Loan Paid in Full 0 4.500% 360 23 Group 1 0130309503 Loan Paid in Full (1) 4.500% 360 24 Group 1 0130393473 Loan Paid in Full 0 4.375% 360 25 Group 1 0130530637 Loan Paid in Full 0 4.375% 360 22 Group 1 0130552284 Loan Paid in Full 0 4.375% 360 23 Group 1 0130557739 Loan Paid in Full 0 4.375% 360 23 Group 1 0130684962 Loan Paid in Full (1) 4.375% 360 23 Group 1 0132268657 Loan Paid in Full 0 4.375% 360 22 Group 1 0132977208 Loan Paid in Full 0 4.375% 360 21 Group 1 0134695964 Loan Paid in Full 0 4.500% 360 16 Group 1 0135022051 Loan Paid in Full 0 4.500% 360 16 Group 1 0135206605 Loan Paid in Full 0 4.375% 360 17 Group 1 0135313419 Loan Paid in Full 0 4.500% 360 17 Group 1 0135394237 Loan Paid in Full (1) 4.500% 360 16 Group 1 0135559904 Loan Paid in Full 0 4.500% 360 16 Group 1 0135652865 Loan Paid in Full (1) 4.375% 360 16 Group 1 0135676575 Loan Paid in Full 0 4.500% 360 16 Group 1 0135708709 Loan Paid in Full 0 4.375% 360 16 Group 1 0135748887 Loan Paid in Full 0 4.500% 360 17 Group 1 0135768901 Loan Paid in Full 0 4.500% 360 16 Group 1 0135887123 Loan Paid in Full 0 4.500% 360 16 Group 1 0135908408 Loan Paid in Full 0 4.375% 360 15 Group 1 0135923258 Loan Paid in Full (3) 4.375% 360 15 Group 1 0136142619 Loan Paid in Full 0 4.375% 360 15 Group 1 0136211356 Loan Paid in Full 0 4.375% 360 16 Group 1 0136270055 Loan Paid in Full 0 4.375% 360 15 Group 1 0136408093 Loan Paid in Full 0 4.375% 360 15 Group 1 0136773991 Loan Paid in Full 0 4.375% 360 15 Group 1 0138253414 Loan Paid in Full 0 4.375% 360 11 Group 1 0224452102 Loan Paid in Full 0 4.500% 360 25 Group 1 0224736975 Loan Paid in Full 0 4.500% 360 25 Group 1 0224883942 Loan Paid in Full 0 4.375% 360 25 Group 1 0225218718 Loan Paid in Full 0 4.375% 360 24 Group 1 0226358141 Loan Paid in Full 0 4.375% 360 23 Group 2 0126168715 Loan Paid in Full 0 4.500% 360 30 Group 2 0127500411 Loan Paid in Full 0 4.500% 360 28 Group 2 0128317146 Loan Paid in Full 0 4.500% 360 26 Group 2 0128546371 Loan Paid in Full 0 4.500% 360 25 Group 2 0128555174 Loan Paid in Full 0 4.500% 360 27 Group 2 0129511879 Loan Paid in Full 0 4.500% 360 25 Group 2 0129667259 Loan Paid in Full 0 4.500% 360 25 Group 2 0130049653 Loan Paid in Full 0 4.500% 360 24 Group 2 0130089493 Loan Paid in Full 0 4.500% 360 25 Group 2 0130097132 Loan Paid in Full 0 4.375% 360 25 Group 2 0130309529 Loan Paid in Full 0 4.375% 360 24 Group 2 0130330855 Loan Paid in Full 0 4.375% 360 26 Group 2 0130380041 Loan Paid in Full 0 4.500% 360 24 Group 2 0130426455 Loan Paid in Full 0 4.375% 360 23 Group 2 0130526833 Loan Paid in Full 0 4.375% 360 23 Group 2 0130542426 Loan Paid in Full 0 4.375% 360 24 Group 2 0130697436 Loan Paid in Full 0 4.500% 360 24 Group 2 0130731748 Loan Paid in Full 0 4.375% 360 23 Group 2 0130774144 Loan Paid in Full 0 4.500% 360 22 Group 2 0130898067 Loan Paid in Full 0 4.375% 360 23 Group 2 0131206088 Loan Paid in Full 0 4.500% 360 21 Group 2 0131333866 Loan Paid in Full 0 4.500% 360 24 Group 2 0131370579 Loan Paid in Full 0 4.375% 360 23 Group 2 0133040352 Loan Paid in Full 0 4.500% 360 17 Group 2 0133546473 Loan Paid in Full (1) 4.500% 360 20 Group 2 0135521979 Loan Paid in Full 0 4.500% 360 16 Group 2 0135624484 Loan Paid in Full 0 4.375% 360 16 Group 2 0135787257 Loan Paid in Full 0 4.500% 360 14 Group 2 0135787604 Loan Paid in Full (1) 4.500% 360 16 Group 2 0135911881 Loan Paid in Full 0 4.500% 360 16 Group 2 0135963924 Loan Paid in Full 0 4.375% 360 15 Group 2 0136243086 Loan Paid in Full 0 4.375% 360 15

Summary SMM CPR PSA Current Month 2.020% Current Month 21.722% Current Month 563.473% 3 Month Average 1.977% 3 Month Average 21.307% 3 Month Average 582.720% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 6.528% N/A Mar-2005 244.204% N/A Apr-2005 17.379% N/A Apr-2005 605.476% N/A May-2005 18.693% N/A May-2005 609.091% N/A Jun-2005 21.441% N/A Jun-2005 656.687% N/A Jul-2005 20.115% N/A Jul-2005 580.895% N/A Aug-2005 22.084% N/A Aug-2005 603.791% N/A Sep-2005 21.722% N/A Sep-2005 563.473% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group 1 SMM CPR PSA Current Month 2.026% Current Month 21.777% Current Month 579.978% 3 Month Average 1.905% 3 Month Average 20.608% 3 Month Average 579.500% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 7.353% N/A Mar-2005 286.113% N/A Apr-2005 20.189% N/A Apr-2005 730.172% N/A May-2005 20.160% N/A May-2005 680.042% N/A Jun-2005 20.039% N/A Jun-2005 634.178% N/A Jul-2005 19.313% N/A Jul-2005 575.191% N/A Aug-2005 20.732% N/A Aug-2005 583.332% N/A Sep-2005 21.777% N/A Sep-2005 579.978% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group 2 SMM CPR PSA Current Month 2.009% Current Month 21.617% Current Month 534.047% 3 Month Average 2.115% 3 Month Average 22.617% 3 Month Average 587.493% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 4.925% N/A Mar-2005 171.553% N/A Apr-2005 11.736% N/A Apr-2005 382.210% N/A May-2005 15.834% N/A May-2005 484.655% N/A Jun-2005 24.037% N/A Jun-2005 693.666% N/A Jul-2005 21.623% N/A Jul-2005 590.232% N/A Aug-2005 24.610% N/A Aug-2005 638.201% N/A Sep-2005 21.617% N/A Sep-2005 534.047% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled Principal) Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12) PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS)) Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal Balance))

Realized Loss Report - Collateral Summary MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~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. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~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. Group 1 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~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. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~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. Group 2 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~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. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Dec~~Mar-~~2004~~2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Jan~~Apr-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Feb~~May-2005 ~~N/A~~0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Mar~~Jun-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~Apr~~Jul-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~May~~Aug-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jun~~Sep-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Jul~~Oct-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~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 · BEAR STEARNS ARM TRUST, MORTGAGE-BACKED NOTES, SERIES 2005-2