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NAAC Alternative Loan Trust, Series 2005-WF1 – ‘8-K’ for 6/27/05

On:  Friday, 7/1/05, at 1:12pm ET   ·   For:  6/27/05   ·   Accession #:  1056404-5-2414   ·   File #:  333-109614-11

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 7/01/05  NAAC Alternative Loan T… 2005-WF1 8-K:8,9     6/27/05    1:45K                                    Norwest Asset SEC Co… Tr

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                        27±   125K 


Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
"Item 8.01. Other Events
"Item 9.01. Financial Statements and Exhibits


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): June 27, 2005 NOMURA ASSET ACCEPTANCE CORPORATION Mortgage Pass-Through Certificates, Series 2005-WF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-109614-11 Pooling and Servicing Agreement) (Commission 54-2175577 (State or other File Number) 54-2175578 jurisdiction IRS EIN of Incorporation) C/O Wells Fargo Bank, N.A. 9062 Old Annapolis Rd. 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 June 27, 2005 a distribution was made to holders of NOMURA ASSET ACCEPTANCE CORPORATION, Mortgage Pass-Through Certificates, Series 2005-WF1 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-WF1 Trust, relating to the June 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. NOMURA ASSET ACCEPTANCE CORPORATION Mortgage Pass-Through Certificates, Series 2005-WF1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Master Servicer By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/30/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-WF1 Trust, relating to the June 27, 2005 distribution. EX-99.1 [Enlarge/Download Table] Nomura Securities International, Inc. Mortgage Pass-Through Certificates Record Date: 5/31/2005 Distribution Date: 6/27/2005 Nomura Securities International, Inc. Mortgage Pass-Through Certificates Series NOMURA 2005-WF1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution I-A 65535VLB2 SEN 6.22397% 180,023,000.00 933,714.78 II-A-1A 65535VKT4 SEN 3.19000% 56,531,000.00 150,278.24 II-A-1B 65535VLF3 SEN 3.20000% 75,000,000.00 200,000.00 II-A-2 65535VKU1 SEN 4.78600% 66,685,000.00 265,962.01 II-A-3 65535VKV9 SEN 5.10000% 20,573,000.00 87,435.25 II-A-4 65535VKW7 SEN 5.59300% 25,440,000.00 118,571.60 II-A-5 65535VKX5 SEN 5.15900% 29,162,000.00 125,372.30 M-1 65535VKY3 SUB 5.45700% 12,091,000.00 54,983.82 M-2 65535VKZ0 SUB 5.75500% 9,673,000.00 46,390.10 M-3 65535VLA4 SUB 6.00000% 7,012,000.00 35,060.00 X 65535VLC0 SEN 0.00000% 1,451,614.29 0.00 P 65535VLD8 SEN 0.00000% 100.00 25,479.89 Totals 483,641,714.29 2,043,247.99 [Enlarge/Download Table] Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses I-A 1,617,242.25 0.00 178,405,757.75 2,550,957.03 0.00 II-A-1A 1,754,628.98 0.00 54,776,371.02 1,904,907.22 0.00 II-A-1B 2,327,876.27 0.00 72,672,123.73 2,527,876.27 0.00 II-A-2 0.00 0.00 66,685,000.00 265,962.01 0.00 II-A-3 0.00 0.00 20,573,000.00 87,435.25 0.00 II-A-4 0.00 0.00 25,440,000.00 118,571.60 0.00 II-A-5 0.00 0.00 29,162,000.00 125,372.30 0.00 M-1 0.00 0.00 12,091,000.00 54,983.82 0.00 M-2 0.00 0.00 9,673,000.00 46,390.10 0.00 M-3 0.00 0.00 7,012,000.00 35,060.00 0.00 X 0.00 0.00 2,041,252.94 0.00 0.00 P 0.00 0.00 100.00 25,479.89 0.00 Totals 5,699,747.50 0.00 478,531,605.44 7,742,995.49 0.00 <FN> All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. </FN> [Enlarge/Download Table] Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A 180,023,000.00 180,023,000.00 0.00 1,617,242.25 0.00 0.00 II-A-1A 56,531,000.00 56,531,000.00 0.00 1,754,628.98 0.00 0.00 II-A-1B 75,000,000.00 75,000,000.00 0.00 2,327,876.27 0.00 0.00 II-A-2 66,685,000.00 66,685,000.00 0.00 0.00 0.00 0.00 II-A-3 20,573,000.00 20,573,000.00 0.00 0.00 0.00 0.00 II-A-4 25,440,000.00 25,440,000.00 0.00 0.00 0.00 0.00 II-A-5 29,162,000.00 29,162,000.00 0.00 0.00 0.00 0.00 M-1 12,091,000.00 12,091,000.00 0.00 0.00 0.00 0.00 M-2 9,673,000.00 9,673,000.00 0.00 0.00 0.00 0.00 M-3 7,012,000.00 7,012,000.00 0.00 0.00 0.00 0.00 X 1,451,614.29 1,451,614.29 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 483,641,714.29 483,641,714.29 0.00 5,699,747.50 0.00 0.00 <FN> (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. </FN> [Download Table] Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution I-A 1,617,242.25 178,405,757.75 0.99101647 1,617,242.25 II-A-1A 1,754,628.98 54,776,371.02 0.96896165 1,754,628.98 II-A-1B 2,327,876.27 72,672,123.73 0.96896165 2,327,876.27 II-A-2 0.00 66,685,000.00 1.00000000 0.00 II-A-3 0.00 20,573,000.00 1.00000000 0.00 II-A-4 0.00 25,440,000.00 1.00000000 0.00 II-A-5 0.00 29,162,000.00 1.00000000 0.00 M-1 0.00 12,091,000.00 1.00000000 0.00 M-2 0.00 9,673,000.00 1.00000000 0.00 M-3 0.00 7,012,000.00 1.00000000 0.00 X 0.00 2,041,252.94 1.40619513 0.00 P 0.00 100.00 1.00000000 0.00 Totals 5,699,747.50 478,531,605.44 0.98943410 5,699,747.50 [Enlarge/Download Table] Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 180,023,000.00 1000.00000000 0.00000000 8.98353127 0.00000000 II-A-1A 56,531,000.00 1000.00000000 0.00000000 31.03835029 0.00000000 II-A-1B 75,000,000.00 1000.00000000 0.00000000 31.03835027 0.00000000 II-A-2 66,685,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-3 20,573,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-4 25,440,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-5 29,162,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 12,091,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 9,673,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 7,012,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 1,451,614.29 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 <FN> (2) All Classes are per 1,000 denomination </FN> [Enlarge/Download Table] Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 8.98353127 991.01646873 0.99101647 8.98353127 II-A-1A 0.00000000 31.03835029 968.96164971 0.96896165 31.03835029 II-A-1B 0.00000000 31.03835027 968.96164973 0.96896165 31.03835027 II-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,406.19512639 1.40619513 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 <FN> (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. </FN> [Enlarge/Download Table] Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall I-A 180,023,000.00 6.22397% 180,023,000.00 933,714.78 0.00 0.00 II-A-1A 56,531,000.00 3.19000% 56,531,000.00 150,278.24 0.00 0.00 II-A-1B 75,000,000.00 3.20000% 75,000,000.00 200,000.00 0.00 0.00 II-A-2 66,685,000.00 4.78600% 66,685,000.00 265,962.01 0.00 0.00 II-A-3 20,573,000.00 5.10000% 20,573,000.00 87,435.25 0.00 0.00 II-A-4 25,440,000.00 5.59300% 25,440,000.00 118,571.60 0.00 0.00 II-A-5 29,162,000.00 5.15900% 29,162,000.00 125,372.30 0.00 0.00 M-1 12,091,000.00 5.45700% 12,091,000.00 54,983.82 0.00 0.00 M-2 9,673,000.00 5.75500% 9,673,000.00 46,390.10 0.00 0.00 M-3 7,012,000.00 6.00000% 7,012,000.00 35,060.00 0.00 0.00 X 1,451,614.29 0.00000% 483,641,714.29 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 483,641,714.29 2,017,768.10 0.00 0.00 [Enlarge/Download Table] Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance I-A 0.00 0.00 933,714.78 0.00 178,405,757.75 II-A-1A 0.00 0.00 150,278.24 0.00 54,776,371.02 II-A-1B 0.00 0.00 200,000.00 0.00 72,672,123.73 II-A-2 0.00 0.00 265,962.01 0.00 66,685,000.00 II-A-3 0.00 0.00 87,435.25 0.00 20,573,000.00 II-A-4 0.00 0.00 118,571.60 0.00 25,440,000.00 II-A-5 0.00 0.00 125,372.30 0.00 29,162,000.00 M-1 0.00 0.00 54,983.82 0.00 12,091,000.00 M-2 0.00 0.00 46,390.10 0.00 9,673,000.00 M-3 0.00 0.00 35,060.00 0.00 7,012,000.00 X 0.00 0.00 0.00 0.00 478,531,605.44 P 0.00 0.00 25,479.89 0.00 100.00 Totals 0.00 0.00 2,043,247.99 0.00 <FN> (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. </FN> [Enlarge/Download Table] Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall I-A 180,023,000.00 6.22397% 1000.00000000 5.18664160 0.00000000 0.00000000 II-A-1A 56,531,000.00 3.19000% 1000.00000000 2.65833330 0.00000000 0.00000000 II-A-1B 75,000,000.00 3.20000% 1000.00000000 2.66666667 0.00000000 0.00000000 II-A-2 66,685,000.00 4.78600% 1000.00000000 3.98833336 0.00000000 0.00000000 II-A-3 20,573,000.00 5.10000% 1000.00000000 4.25000000 0.00000000 0.00000000 II-A-4 25,440,000.00 5.59300% 1000.00000000 4.66083333 0.00000000 0.00000000 II-A-5 29,162,000.00 5.15900% 1000.00000000 4.29916672 0.00000000 0.00000000 M-1 12,091,000.00 5.45700% 1000.00000000 4.54749979 0.00000000 0.00000000 M-2 9,673,000.00 5.75500% 1000.00000000 4.79583376 0.00000000 0.00000000 M-3 7,012,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 X 1,451,614.29 0.00000% 333175.08488429 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 <FN> (5) All Classes are per 1,000 denominations </FN> [Enlarge/Download Table] Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A 0.00000000 0.00000000 5.18664160 0.00000000 991.01646873 II-A-1A 0.00000000 0.00000000 2.65833330 0.00000000 968.96164971 II-A-1B 0.00000000 0.00000000 2.66666667 0.00000000 968.96164973 II-A-2 0.00000000 0.00000000 3.98833336 0.00000000 1000.00000000 II-A-3 0.00000000 0.00000000 4.25000000 0.00000000 1000.00000000 II-A-4 0.00000000 0.00000000 4.66083333 0.00000000 1000.00000000 II-A-5 0.00000000 0.00000000 4.29916672 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 4.54749979 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 4.79583376 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 329654.79103957 P 0.00000000 0.00000000 254798.90000000 0.00000000 1000.00000000 <FN> (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. </FN> [Enlarge/Download Table] CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 7,814,471.96 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 9,847.85 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 25,479.89 Total Deposits 7,849,799.70 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 106,804.21 Payment of Interest and Principal 7,742,995.49 Total Withdrawals (Pool Distribution Amount) 7,849,799.70 Ending Balance 0.00 [Enlarge/Download Table] PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00 [Download Table] SERVICING FEES Gross Servicing Fee 100,758.69 Credit Risk Management Fee, The Murrayhill Company 6,045.52 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 106,804.21 [Download Table] OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 0.00 0.00 0.00 0.00 [Enlarge/Download Table] LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 2 0 0 2 245,095.07 0.00 0.00 245,095.07 30 Days 9 0 0 0 9 1,486,300.67 0.00 0.00 0.00 1,486,300.67 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 9 2 0 0 11 1,486,300.67 245,095.07 0.00 0.00 1,731,395.74 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 0.071225% 0.000000% 0.000000% 0.071225% 0.051174% 0.000000% 0.000000% 0.051174% 30 Days 0.320513% 0.000000% 0.000000% 0.000000% 0.320513% 0.310330% 0.000000% 0.000000% 0.000000% 0.310330% 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 0.320513% 0.071225% 0.000000% 0.000000% 0.391738% 0.310330% 0.051174% 0.000000% 0.000000% 0.361504% [Enlarge/Download Table] Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total GROUP 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 170,406.08 0.00 0.00 170,406.08 30 Days 4 0 0 0 4 761,927.87 0.00 0.00 0.00 761,927.87 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 4 1 0 0 5 761,927.87 170,406.08 0.00 0.00 932,333.95 0-29 Days 0.084175% 0.000000% 0.000000% 0.084175% 0.089346% 0.000000% 0.000000% 0.089346% 30 Days 0.336700% 0.000000% 0.000000% 0.000000% 0.336700% 0.399489% 0.000000% 0.000000% 0.000000% 0.399489% 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 0.336700% 0.084175% 0.000000% 0.000000% 0.420875% 0.399489% 0.089346% 0.000000% 0.000000% 0.488836% 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 1 0 0 1 74,688.99 0.00 0.00 74,688.99 30 Days 5 0 0 0 5 724,372.80 0.00 0.00 0.00 724,372.80 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 5 1 0 0 6 724,372.80 74,688.99 0.00 0.00 799,061.79 0-29 Days 0.061728% 0.000000% 0.000000% 0.061728% 0.025914% 0.000000% 0.000000% 0.025914% 30 Days 0.308642% 0.000000% 0.000000% 0.000000% 0.308642% 0.251329% 0.000000% 0.000000% 0.000000% 0.251329% 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 0.308642% 0.061728% 0.000000% 0.000000% 0.370370% 0.251329% 0.025914% 0.000000% 0.000000% 0.277243% [Download Table] OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 9,847.85 [Enlarge/Download Table] SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class 2A2 105,402,714.29 21.79355320% 105,992,352.94 22.14949895% 13.935339% 0.000000% Class 2A3 84,829,714.29 17.53978447% 85,419,352.94 17.85030539% 4.299194% 0.000000% Class 2A4 59,389,714.29 12.27969229% 59,979,352.94 12.53404211% 5.316263% 0.000000% Class 2A5 30,227,714.29 6.25002215% 30,817,352.94 6.43998277% 6.094059% 0.000000% Class M-1 18,136,714.29 3.75003102% 18,726,352.94 3.91329491% 2.526688% 0.000000% Class M-2 8,463,714.29 1.74999675% 9,053,352.94 1.89190282% 2.021392% 0.000000% Class M-3 1,451,714.29 0.30016317% 2,041,352.94 0.42658686% 1.465316% 0.000000% Class X 100.00 0.00002068% 100.00 0.00002090% 0.426566% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000021% 0.000000% <FN> Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure </FN> [Enlarge/Download Table] REO Detail - All Mortgage Loans in REO during Current Period Summary 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current REO Total Nov-04 0.000% Loans in REO 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. GROUP 1 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current REO Total Nov-04 0.000% Loans in REO 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. GROUP 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current REO Total Nov-04 0.000% Loans in REO 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-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. [Enlarge/Download Table] REO Loan Detail - All Mortgage Loans in REO during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance No REO loans this period. [Enlarge/Download Table] REO Loan Detail - All Mortgage Loans in REO during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No REO loans this period. [Enlarge/Download Table] 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 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current Foreclosure Total Nov-04 0.000% Loans in Foreclosure 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-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 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current Foreclosure Total Nov-04 0.000% Loans in Foreclosure 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-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 Jul-04 0.000% Original Principal Balance 0.00 Aug-04 0.000% Current Principal Balance 0.00 Sep-04 0.000% Oct-04 0.000% Current Foreclosure Total Nov-04 0.000% Loans in Foreclosure 0 Dec-04 0.000% Original Principal Balance 0.00 Jan-05 0.000% Current Principal Balance 0.00 Feb-05 0.000% Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-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. [Enlarge/Download Table] Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance No Foreclosure loans this period. [Enlarge/Download Table] Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No Foreclosure loans this period. [Download Table] COLLATERAL STATEMENT Collateral Description Fixed Weighted Average Gross Coupon 6.734434% Weighted Average Net Coupon 6.484434% Weighted Average Pass-Through Rate 6.469434% Weighted Average Maturity(Stepdown Calculation) 344 Beginning Scheduled Collateral Loan Count 2,808 Number Of Loans Paid In Full 0 Ending Scheduled Collateral Loan Count 2,808 Beginning Scheduled Collateral Balance 483,641,714.29 Ending Scheduled Collateral Balance 478,531,605.44 Ending Actual Collateral Balance at 31-May-2005 478,942,651.44 Monthly P&I Constant 3,216,117.22 Special Servicing Fee 0.00 Prepayment Penalties 25,479.89 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 501,906.23 Unscheduled Principal 4,608,202.62 [Enlarge/Download Table] Group Level Collateral Statement Group GROUP 1 GROUP 2 Total Collateral Description Mixed Fixed Mixed Fixed Fixed Weighted Average Coupon Rate 6.488971 6.896068 6.734434 Weighted Average Net Rate 6.238971 6.646068 6.484434 Weighted Average Maturity 354 338 344 Beginning Loan Count 1,196 1,634 2,830 Loans Paid In Full 8 14 22 Ending Loan Count 1,188 1,620 2,808 Beginning Scheduled Balance 192,025,387.08 291,616,327.21 483,641,714.29 Ending Scheduled Balance 190,575,448.48 287,956,156.96 478,531,605.44 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal And Interest Constant 1,219,719.88 1,996,397.34 3,216,117.22 Scheduled Principal 181,347.25 320,558.98 501,906.23 Unscheduled Principal 1,268,591.35 3,339,611.27 4,608,202.62 Scheduled Interest 1,038,372.63 1,675,838.36 2,714,210.99 Servicing Fees 40,005.29 60,753.40 100,758.69 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 2,400.32 3,645.20 6,045.52 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 995,967.02 1,611,439.76 2,607,406.78 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 6.223971 6.631068 6.469434 [Enlarge/Download Table] 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 8 1,366,595.00 1,262,710.60 0 0.00 0.00 GROUP 2 14 3,366,866.00 3,343,883.54 0 0.00 0.00 Total 22 4,733,461.00 4,606,594.14 0 0.00 0.00 [Enlarge/Download Table] 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 7,684.81 GROUP 2 0 0.00 0.00 0 0.00 0.00 886.10 Total 0 0.00 0.00 0 0.00 0.00 8,570.91 [Enlarge/Download Table] Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount GROUP 1 0140836495 CA 77.50 01-Dec-2004 186,000.00 184,745.10 GROUP 1 0140983404 MI 95.00 01-Jan-2005 169,575.00 168,707.87 GROUP 1 0141138347 RI 55.86 01-Jan-2005 162,000.00 161,120.24 GROUP 1 0141145102 TN 53.24 01-Jan-2005 181,000.00 179,905.25 GROUP 1 0141177832 OR 70.00 01-Feb-2005 168,770.00 69,981.57 GROUP 1 0141271429 CA 62.75 01-Jan-2005 187,000.00 185,895.42 GROUP 1 0141272054 CO 79.94 01-Jan-2005 271,000.00 269,473.84 GROUP 1 0141914192 OK 75.00 01-Feb-2005 41,250.00 41,077.25 GROUP 2 0140073834 FL 95.00 01-Nov-2004 251,750.00 250,145.24 GROUP 2 0140436171 MD 90.00 01-Jan-2005 31,500.00 31,374.23 GROUP 2 0140492216 CA 88.92 01-Jan-2005 449,061.00 446,591.97 GROUP 2 0140716606 SC 95.00 01-Dec-2004 132,905.00 132,183.67 GROUP 2 0140722125 VA 95.00 01-Feb-2005 95,000.00 94,676.99 GROUP 2 0140804451 CA 86.22 01-Dec-2004 388,000.00 385,712.21 GROUP 2 0140822792 CA 44.75 01-Jan-2005 226,000.00 221,221.08 GROUP 2 0140897919 FL 95.00 01-Feb-2005 39,900.00 39,750.07 GROUP 2 0141306118 NY 88.71 01-Jan-2005 550,000.00 547,187.56 GROUP 2 0141478115 WI 90.00 01-Feb-2005 274,500.00 273,442.70 GROUP 2 0141492959 VA 90.00 01-Feb-2005 65,250.00 65,016.75 GROUP 2 0141776047 MO 95.00 01-Feb-2005 209,000.00 208,213.39 GROUP 2 0141896332 CA 30.70 01-Mar-2005 330,000.00 324,804.60 GROUP 2 0142079722 PA 80.00 01-Feb-2005 324,000.00 318,404.71 [Enlarge/Download Table] Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning GROUP 1 0140836495 Loan Paid in Full 0 6.250% 360 6 GROUP 1 0140983404 Loan Paid in Full 0 6.875% 360 5 GROUP 1 0141138347 Loan Paid in Full 0 6.875% 360 5 GROUP 1 0141145102 Loan Paid in Full 0 6.000% 360 5 GROUP 1 0141177832 Loan Paid in Full 0 6.250% 360 4 GROUP 1 0141271429 Loan Paid in Full 0 6.125% 360 5 GROUP 1 0141272054 Loan Paid in Full 0 6.375% 360 5 GROUP 1 0141914192 Loan Paid in Full 0 6.950% 360 4 GROUP 2 0140073834 Loan Paid in Full 0 7.250% 360 7 GROUP 2 0140436171 Loan Paid in Full 0 8.125% 360 5 GROUP 2 0140492216 Loan Paid in Full 0 6.500% 360 5 GROUP 2 0140716606 Loan Paid in Full 0 7.375% 360 6 GROUP 2 0140722125 Loan Paid in Full 0 8.000% 360 4 GROUP 2 0140804451 Loan Paid in Full 0 6.950% 360 6 GROUP 2 0140822792 Loan Paid in Full 0 5.875% 180 5 GROUP 2 0140897919 Loan Paid in Full 0 7.500% 360 4 GROUP 2 0141306118 Loan Paid in Full 0 6.875% 360 5 GROUP 2 0141478115 Loan Paid in Full 0 7.375% 360 4 GROUP 2 0141492959 Loan Paid in Full 0 7.750% 360 4 GROUP 2 0141776047 Loan Paid in Full 0 7.500% 360 4 GROUP 2 0141896332 Loan Paid in Full 0 5.750% 180 3 GROUP 2 0142079722 Loan Paid in Full 0 6.375% 180 4 [Enlarge/Download Table] Prepayment - Voluntary Prepayments Summary SMM CPR PSA Current Month 0.954% Current Month 10.864% Current Month 1,086.520% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 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. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 10.864% N/A Jun-2005 1,086.520% 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 0.661% Current Month 7.653% Current Month 786.414% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 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. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 7.653% N/A Jun-2005 786.414% 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 1.146% Current Month 12.922% Current Month 1,269.912% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 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. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 12.922% N/A Jun-2005 1,269.912% 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. <FN> 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)) </FN> [Enlarge/Download Table] Realized Loss Detail Report - Loans with Losses during Current Period Summary # Loans Prior Realized Current with Principal Loss/(Gain) Loss Group Losses Balance Amount Percentage GROUP 1 0 0.00 0.00 0.000% GROUP 2 0 0.00 0.00 0.000% Total 0 0.00 0.00 0.000% [Enlarge/Download Table] Realized Loss Loan Detail Report - Loans With Losses during Current Period Original Current Loan Principal Note LTV at Original Group Number Balance Rate State Origination Term No losses this period. [Enlarge/Download Table] Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued) Prior Cumulative Loan Principal Realized Realized Group Number Balance Loss/(Gain) Loss/(Gain) No losses this period. [Enlarge/Download Table] 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. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. GROUP 1 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. GROUP 2 MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jul-2004 N/A N/A Jul-2004 N/A N/A Aug-2004 N/A N/A Aug-2004 N/A N/A Sep-2004 N/A N/A Sep-2004 N/A N/A Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. <FN> </FN> <FN> 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) </FN>

Dates Referenced Herein

This ‘8-K’ Filing    Date    Other Filings
Filed on:7/1/05None on these Dates
For Period End:6/27/05
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Filing Submission 0001056404-05-002414   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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