-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VKKlOuzMkpm3+Cb4OJDjVCCBOWFejA6ORQVxPWr3tCcNLpSRZpMGbZ76LzSm+Z7U JMCsMJvKr6HxS5XC3Qur3g== 0000950149-05-000306.txt : 20050506 0000950149-05-000306.hdr.sgml : 20050506 20050506154248 ACCESSION NUMBER: 0000950149-05-000306 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050420 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050506 DATE AS OF CHANGE: 20050506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEQUOIA RESIDENTIAL FUNDING INC CENTRAL INDEX KEY: 0001176320 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 352170972 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-90772-01 FILM NUMBER: 05807878 BUSINESS ADDRESS: STREET 1: 591 REDWOOD HWY STREET 2: SUITE 3160 CITY: MILL VALLEY STATE: CA ZIP: 94941 BUSINESS PHONE: 4153897373 MAIL ADDRESS: STREET 1: 591 REDWOOD HWY STREET 2: SUITE 3160 CITY: MILL VALLEY STATE: CA ZIP: 94941 8-K 1 f08872ee8vk.txt FORM 8-K 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 April 20, 2005 Date of Report (Date of Earliest Event Reported) SEQUOIA RESIDENTIAL FUNDING, INC. (as Depositor of Sequoia Mortgage Trust 2004-5, the Issuer of Mortgage Pass-Through Certificates under a Pooling and Servicing Agreement dated as of May 1, 2004) SEQUOIA RESIDENTIAL FUNDING, INC. --------------------------------- (Exact Name of Registrant as Specified in Its Charter) Delaware 333-115296-01 35-2170972 -------- ------------- ---------- (State or Other (Commission File Number) (I.R.S. Employer Jurisdiction of Identification No.) Incorporation) One Belvedere Place, Suite 330, Mill Valley, CA 94941 ----------------------------------------------------- (Address of Principal Executive Offices) (415) 381-1765 -------------- (Registrant's Telephone Number, Including Area Code) Not Applicable -------------- (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)) INFORMATION TO BE INCLUDED IN THE REPORT Item 8.01. OTHER EVENTS Sequoia Residential Funding, Inc. has previously registered the offer and sale of Mortgage Pass-Through Certificates issued by Sequoia Mortgage Trust 2004-5 (the "Certificates"). The following exhibit which relates specifically to the Certificates is included with this Current Report: Item 9.01. Exhibits 10.1 Monthly Payment Date Statement relating to the distribution to Certificateholders, April 20, 2005. SIGNATURE 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 thereunto duly authorized. Date: May 6, 2005 SEQUOIA RESIDENTIAL FUNDING, INC. By: /s/ Harold F. Zagunis ------------------------------------ Harold F. Zagunis Chief Financial Officer and Secretary EXHIBIT INDEX
Exhibit Number Page Number - -------------- ----------- 10.1 Monthly Payment Date Statement relating to the distribution to Certificateholders, April 20, 2005...................................... 5
EX-10.1 2 f08872eexv10w1.txt EXHIBIT 10.1 EXHIBIT 10.1 CONTACT: CUSTOMER SERVICES -- CTSLINK WELLS FARGO BANK MINNESOTA, N.A. SECURITIES ADMINISTRATION SERVICES 7485 NEW HORIZON WAY FREDERICK, MD 21703 WWW.CTSLINK.COM TELEPHONE: (301) 815-6600 FAX: (301) 315-6660 SMT SERIES 2004-5 RECORD DATE: MARCH 31, 2005 DISTRIBUTION DATE: APRIL 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Class CUSIP Description Through Rate Balance Distribution - ------ --------- ----------- ----------------- -------------- ------------ A-1 81744FBS5 SEN 3.64288% 445,318,445.80 1,351,867.70 A-2 81744FBT3 SEN 3.11000% 152,409,033.76 394,993.41 A-3 81744FCF2 SEN 2.82000% 61,499,230.80 144,523.19 X-1 81744FBU0 IO 0.80000% 0.00 119,128.58 X-2 81744FBV8 IO 0.18621% 0.00 33,193.93 X-B 81744FBX4 IO 0.24771% 0.00 4,748.63 B-1 81744FBZ9 SUB 3.33000% 14,874,000.00 41,275.35 B-2 81744FCA3 SUB 3.73000% 8,499,000.00 26,417.73 B-3 81744FCB1 SUB 3.71925% 4,674,000.00 14,486.48 B-4 81744FCC9 SUB 3.71925% 2,124,000.00 6,583.07 B-5 81744FCD7 SUB 3.71925% 2,124,000.00 6.583.07 B-6 81744FCE5 SUB 3.71925% 3,830,447.31 11,871.99 A-R 81744FBY2 RES 3.07980% 0.00 0.00 -------------- ------------ Totals 695,352,157.67 2,155,673.13 -------------- ------------
Principal Current Realized Ending Certificate Total Cumulative Realized Class Distribution Loss Balance Distribution Loss - ------ ------------- ---------------- ------------------ ------------- ------------------- A-1 16,836,967.76 0.00 428,481,478.04 18,188,835.46 0.0 A-2 7,907,811.89 0.00 144,501,221.87 8,302,805.30 0.0 A-3 3,190,915.50 0.00 58,308,315.30 3,335,438.69 0.0 X-1 0.00 0.00 0.00 119,128.58 0.0 X-2 0.00 0.00 0.00 33,193.93 0.0 X-B 0.00 0.00 0.00 4,748.63 0.0 B-1 0.00 0.00 14,874,000.00 41,275.35 0.0 B-2 0.00 0.00 8,499,000.00 26,417.73 0.0 B-3 0.00 0.00 4,674,000.00 14,486.48 0.0 B-4 0.00 0.00 2,124,000.00 6,583.07 0.0 B-5 0.00 0.00 2,124,000.00 6,583.07 0.0 B-6 0.00 0.00 3,830,447.31 11,871.99 0.0 A-R 0.00 0.00 0.00 0.00 0.0 ------------- ---- -------------- ------------- --- Totals 27,935,695.15 0.00 667,416,462.52 30,091,368.28 0.0 ------------- ---- -------------- ------------- ---
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT
Original Face Beginning Certificate Scheduled Principal Unscheduled Principal Class Amount Balance Distribution Distribution Accretion - ------- -------------- --------------------- ------------------- --------------------- --------- A-1 553,000,000.00 445,318,445.80 245.93 16,836,721.83 0.00 A-2 185,867,000.00 152,409,033.76 143.91 7,907,667.98 0.00 A-3 75,000,000.00 61,499,230.80 58.07 3,190,857.43 0.00 X-1 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 B-1 14,874,000.00 14,874,000.00 0.00 0.00 0.00 B-2 8,499,000.00 8,499,000.00 0.00 0.00 0.00 B-3 4,674,000.00 4,674,000.00 0.00 0.00 0.00 B-4 2,124,000.00 2,124,000.00 0.00 0.00 0.00 B-5 2,124,000.00 2,124,000.00 0.00 0.00 0.00 B-6 3,830,447.31 3,830,447.31 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 -------------- -------------- ------ ------------- ---- Totals 849,992,547.31 695,352,157.67 447.91 27,935,247.24 0.00 ============== ============== ====== ============= ====
Realized Total Principal Total Principal Class Loss (1) Reduction Ending Certificate Balance Ending Certificate Percentage Distribution - ------- -------- --------------- ------------------------- ----------------------------- --------------- A-1 0.00 16,836,967.76 428,481,478.04 0.77483088 16,836,967.76 A-2 0.00 7,907,811.89 144,501,221.87 0.77744420 7,907,811.89 A-3 0.00 3,190,915.50 58,308,315.30 0.77744420 3,190,915.50 X-1 0.00 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 14,874,000.00 1.00000000 0.00 B-2 0.00 0.00 8,499,000.00 1.00000000 0.00 B-3 0.00 0.00 4,674,000.00 1.00000000 0.00 B-4 0.00 0.00 2,124,000.00 1.00000000 0.00 B-5 0.00 0.00 2,124,000.00 1.00000000 0.00 B-6 0.00 0.00 3,830,447.31 1.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 ---- ------------- -------------- ---------- ------------- Totals 0.00 27,935,695.15 667,416,462.52 0.78520272 27,935,695.15 ==== ============= ============== ========== =============
(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 FACTORS STATEMENT
Beginning Certificate Scheduled Principal Unscheduled Principal Realized Class Original Face Amount Balance Distribution Distribution Accretion Loss (3) - ------ -------------------- ------------- ------------------- --------------------- ---------- ---------- A-1 553,000,000.00 805.27747884 0.00044472 30.44615159 0.00000000 0.00000000 A-2 185,867,000.00 819.98974406 0.00077426 42.54476577 0.00000000 0.00000000 A-3 75,000,000.00 819.98974400 0.00077427 42.54476573 0.00000000 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 14,874,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,499,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 4,674,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,124,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,124,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,830,447.31 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class Total Principal Reduction Ending Certificate Balance Ending Certificate Percentage Total Principal Distribution - ------ ------------------------- -------------------------- ----------------------------- ---------------------------- A-1 30.44659631 774.83088253 0.77483088 30.44659631 A-2 42.54554004 777.44420403 0.77744420 42.54554004 A-3 42.54554000 777.44420400 0.77744420 42.54554000 X-1 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 1000.00000000 1.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION STATEMENT
Current Beginning Certificate/ Current Accrued Payment of Unpaid Interest Class Original Face Amount Current Certificate Rate Notional Balance Interest Interest Shortfall Shortfall - ------- -------------------- ------------------------ ---------------------- ---------------- ------------------ ----------- A-1 553,000,000.00 3.64288% 445,318,445.80 1,351,867.70 0.00 0.00 A-2 185,867,000.00 3.11000% 152,409,033.76 394,993.41 0.00 0.00 A-3 75,000,000.00 2.82000% 61,499,230.80 144,523.19 0.00 0.00 X-1 0.00 0.80000% 178,692,873.11 119,128.58 0.00 0.00 X-2 0.00 0.18621% 213,908,264.56 33,193.93 0.00 0.00 X-B 0.00 0.24771% 23,373,000.00 4,824.76 0.00 0.00 B-1 14,874,000.00 3.33000% 14,874,000.00 41,275.35 0.00 0.00 B-2 8,499,000.00 3.73000% 8,499,000.00 26,417.73 0.00 0.00 B-3 4,674,000.00 3.71925% 4,674,000.00 14,486.48 0.00 0.00 B-4 2,124,000.00 3.71925% 2,124,000.00 6,583.07 0.00 0.00 B-5 2,124,000.00 3.71925% 2,124,000.00 6,583.07 0.00 0.00 B-6 3,830,447.31 3.71925% 3,830,447.31 11,871.99 0.00 0.00 A-R 100.00 3.07980% 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- Totals 849,992,547.31 2,155,749.26 0.00 0.00 -------------- ------------ ---- ----
Non-Supported Realized Total Interest Remaining Unpaid Ending Certificate/ Class Interest Shortfall Loss (4) Distribution Interest Shortfall Notational Balance - -------- ------------------ -------- -------------- -------------------- ------------------- A-1 0.00 0.00 1,351,867.70 0.00 428,481,478.04 A-2 0.00 0.00 394,993.41 0.00 144,501,221.87 A-3 0.00 0.00 144,523.19 0.00 58,308,315.30 X-1 0.00 0.00 119,128.58 0.00 171,983,508.30 X-2 0.00 0.00 33,193.93 0.00 202,809,537.17 X-B 0.00 0.00 4,748.63 0.00 23,373,000.00 B-1 0.00 0.00 41,275.35 0.00 14,874,000.00 B-2 0.00 0.00 26,417.73 0.00 8,499,000.00 B-3 0.00 0.00 14,486.48 0.00 4,674,000.00 B-4 0.00 0.00 6,583.07 0.00 2,124,000.00 B-5 0.00 0.00 6,583.07 0.00 2,124,000.00 B-6 0.00 0.00 11,871.99 0.00 3,830,447.31 A-R 0.00 0.00 0.00 0.00 0.00 ---- ---- ------------ ---- Totals 0.00 0.00 2,155,673.13 0.00 ---- ---- ------------ ----
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION FACTORS STATEMENT
Current Original Face Certificate Beginning Certificate/ Current Accrued Payment of Unpaid Class (5) Amount Rate Notional Balance Interest Interest Shortfall - --------- -------------- ------------ ---------------------- --------------- ------------------ A-1 553,000,000.00 3.64288% 805.27747884 2.44460705 0.00000000 A-2 185,867,000.00 3.11000% 819.98974406 2.12514007 0.00000000 A-3 75,000,000.00 2.82000% 819.98974400 1.92697587 0.00000000 X-1 0.00 0.80000% 684.99608272 0.45666405 0.00000000 X-2 0.00 0.18621% 819.98974405 0.12724465 0.00000000 X-B 0.00 0.24771% 1000.00000000 0.20642451 0.00000000 B-1 14,874,000.00 3.33000% 1000.00000000 2.77500000 0.00000000 B-2 8,499,000.00 3.73000% 1000.00000000 3.10833392 0.00000000 B-3 4,674,000.00 3.71925% 1000.00000000 3.09937527 0.00000000 B-4 2,124,000.00 3.71925% 1000.00000000 3.09937382 0.00000000 B-5 2,124,000.00 3.71925% 1000.00000000 3.09937382 0.00000000 B-6 3,830,447.31 3.71925% 1000.00000000 3.09937431 0.00000000 A-R 100.00 3.07980% 0.00000000 0.00000000 0.00000000
Current Interest Non-Supported Realized Total Interest Remaining Unpaid Ending Certificate/ Class (5) Shortfall Interest Shortfall Loss (6) Distribution Interest Shortfall Notational Balance - --------- ---------------- ------------------ ------------ -------------- ------------------ ------------------- A-1 0.00000000 0.00000000 0.00000000 2.44460705 0.00000000 774.83088253 A-2 0.00000000 0.00000000 0.00000000 2.12514007 0.00000000 777.44420403 A-3 0.00000000 0.00000000 0.00000000 1.92697587 0.00000000 777.44420400 X-1 0.00000000 0.00000000 0.00000000 0.45666405 0.00000000 659.27659804 X-2 0.00000000 0.00000000 0.00000000 0.12724465 0.00000000 777.44420402 X-B 0.00000000 0.00000000 0.00000000 0.20316733 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 0.00000000 2.77500000 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 0.00000000 3.10833392 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 0.00000000 3.09937527 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 0.00000000 3.09937382 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 0.00000000 3.09937382 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 0.00000000 3.09937431 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
(5) Per $1 denomination (6) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 30,338,170.35 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 5,433.05 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 30,343,603.40 Withdrawals Reimbursement for Servicer Advances 29,550.40 Payment of Service Fee 222,684.72 Payment of Interest and Principal 30,091,368.28 ------------- Total Withdrawals (Pool Distribution Amount) 30,343,603.40 Ending Balance 0.00 =============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 ---- Non-Supported Prepayment Curtailment Interest Shortfall 0.00 ====
SERVICING FEES Gross Servicing Fee 217,487.88 LPMI 850.91 Master Servicing Fee 4,345.93 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 222,684.72 ==========
OTHER ACCOUNTS
Beginning Current Account Type Balance Withdrawals Current Deposits Ending Balance - --------------------- --------- ----------- ---------------- -------------- Class X-1 Sub Account 4,500.00 0.00 0.00 4,500.00 Class X-2 Sub Account 4,500.00 0.00 0.00 4,500.00 Class X-B Sub Account 1,000.00 76.13 76.13 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT - ----------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 5 1,455,423.06 60 Days 1 115,184.21 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 1 133,459.57 --------- ------------ 7 1,704,066.84 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.246063% 0.218066% 60 Days 0.049213% 0.017258% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.049213% 0.019996% -------- -------- 0.344488% 0.255320%
BANKRUPTCY - ------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE - --------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO - -------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL - ---------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 5 1,455,423.06 60 Days 1 115,184.21 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 1 133,459.57 -------- ------------ 7 1,704,066.84 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.246063% 0.218066% 60 Days 0.049213% 0.017258% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.049213% 0.019996% -------- ------------ 0.344488% 0.255320%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 5,433.05
Original $ Original% Current $ Current % Current Class % Prepayment % ---------- --------- --------- --------- --------------- ------------ Class A 36,125,447.31 4.25008989% 36,125,447.31 5.41272943% 94.587271% 0.000000% Class X-1 36,125,447.31 4.25008989% 36,125,447.31 5.41272943% 0.000000% 0.000000% Class X-2 36,125,447.31 4.25008989% 36,125,447.31 5.41272943% 0.000000% 0.000000% Class B-1 21,251,447.31 2.50019219% 21,251,447.31 3.18413592% 2.228594% 41.173193% Class B-2 12,752,447.31 1.50030107% 12,752,447.31 1.91071812% 1.273418% 25.526352% Class B-3 8,078,447.31 0.95041390% 8,078,447.31 1.21040576% 0.700312% 12.938248% Class B-4 5,954,447.31 0.70052936% 5,954,447.31 0.89216369% 0.318242% 5.879512% Class B-5 3,830,447.31 0.45064481% 3,830,447.31 0.57392161% 0.318242% 5.879512% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.573922% 10.603183%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP GROUP ONE
DELINQUENT - ----------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 3 1,184,472.96 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 1 133,459.57 -------- ------------ 4 1,317,932.53 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.210970% 0.261455% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.070323% 0.029459% -------- ------------ 0.281294% 0.290914%
BANKRUPTCY - ----------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE - ----------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO - ----------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL - ----------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 3 1,184,472.96 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 1 133,459.57 -------- ------------ 4 1,317,932.53 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.210970% 0.261455% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.070323% 0.029459% -------- ------------ 0.281294% 0.290914%
DELINQUENT GROUP TWO - ----------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 2 270,950.10 60 Days 1 115,184.21 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ---------- 3 386,134.31 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.327869% 0.126381% 60 Days 0.163934% 0.053726% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- 0.491803% 0.180107%
BANKRUPTCY - ------------------------------------------- 1.183654% No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE - --------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO - -------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL - --------------------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 2 270,950.10 60 Days 1 115,184.21 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ---------- 3 386,134.31 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.327869% 0.126381% 60 Days 0.163934% 0.053726% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- 0.491803% 0.180107%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 4.104437% Weighted Average Net Coupon 3.729109% Weighted Average Pass-Through Rate 3.720141% Weighted Average Maturity (Stepdown Calculation) 332 Beginning Scheduled Collateral Loan Count 2,103 Number of Loans Paid in Full 71 Ending Scheduled Collateral Loan Count 2,032 Beginning Scheduled Collateral Balance 695,352,157.67 Ending Scheduled Collateral Balance 667,416,462.52 Ending Actual Collateral Balance at 31-Mar-2005 667,423,640.47 Monthly P&I Constant 2,378,805.74 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 29,979,401.96 Ending Scheduled Balance for Premium Loans 667,416,462.52 Scheduled Principal 447.91 Unscheduled Principal 27,935,247.24
GROUP GROUP ONE GROUP TWO TOTAL Collateral Description 6 Month LIBOR ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.027064 4.265666 4.104437 Weighted Average Net Rate 3.651578 3.890666 3.729109 Pass-Through Rate 3.642879 3.881135 3.720141 Weighted Average Maturity 334 327 332 Record Date 03/31/2005 03/31/2005 03/31/2005 Principal and Interest Constant 1,577,056.49 801,749.25 2,378,805.74 Beginning Loan Count 1,466 637 2,103 Loans Paid in Full 44 27 71 Ending Loan Count 1,422 610 2,032 Beginning Scheduled Balance 469,864,116.55 225,488,041.12 695,352,157.67 Ending Scheduled Balance 453,027,148.79 214,389,313.73 667,416,462.52 Scheduled Principal 245.93 201.98 447.91 Unscheduled Principal 16,836,721.83 11,098,525.41 27,935,247.24 Scheduled Interest 1,576,810.56 801,547.27 2,378,357.83 Servicing Fee 147,022.84 70,465.04 217,487.88 Master Servicing Fee 2,936.64 1,409.29 4,345.93 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 469.30 381.61 850.91 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 1,426,381.78 729,291.33 2,155,673.11 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00
MISCELLANEOUS REPORTING Group One Six-Month Libor Loan Balance 453,027,148.79 Interest Transfer Amount 0.00 Principal Transfer Amount 0.00 Prorata Senior Percentage 94.776007% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Group Two One-Month Libor Loan Balance 124,626,723.67 Six-Month Libor Loan Balance 89,762,590.06 Interest Transfer Amount 0.00 Principal Transfer Amount 0.00 Prorata Senior Percentage 94.864572% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%
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