EX-10.1 2 f10560dexv10w1.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 2004-12 RECORD DATE: MAY 31, 2005 DISTRIBUTION DATE: JUNE 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Current Class CUSIP Description Rate Balance Distribution Distribution Realized Loss ----------- -------------- ------------- -------------- ------------------ --------------- -------------- -------------- A-1 81744FFY8 SEN 3.36000% 352,053,175.47 985,748.89 11,128,243.30 0.00 A-2 81744FFZ5 SEN 3.04000% 183,894,682.88 465,866.53 7,892,802.83 0.00 A-3 81744FGZ9 SEN 3.07000% 187,683,109.37 480,155.95 9,819,933.96 0.00 X-A1 81744FGC5 IO 0.84509% 0.00 377,437.16 0.00 0.00 X-A2 81744FGD3 IO 0.82933% 0.00 129,709.76 0.00 0.00 X-B 81744FGF8 IO 0.28979% 0.00 2,004.94 0.00 0.00 B-1 81744FGG6 SUB 3.59000% 8,588,000.00 25,692.43 0.00 0.00 B-2 81744FGH4 SUB 3.94000% 6,134,000.00 20,139.97 0.00 0.00 B-3 81744FGJ0 SUB 4.34000% 3,680,000.00 14,006.31 0.00 0.00 B-4 81744FGK7 SUB 4.09805% 2,453,000.00 8,377.10 0.00 0.00 B-5 81744FGK7 SUB 4.09805% 920,000.00 3,141.84 0.00 0.00 B-6 81744FGL5 SUB 4.09805% 2,762,778.00 9,435.01 0.00 0.00 A-R 81744FGE1 RES 4.23342% 0.00 0.52 0.00 0.00 -------------- ------------ ------------- ---- Totals 748,168,745.72 2,521,716.41 28,840,980.09 0.00 -------------- ------------ ------------- ---- Ending Certificate Total Cumulative Class Balance Distribution Realized Loss ----------- ----------------- ---------------- --------------- A-1 340,924,932.17 12,113,992.19 0.00 A-2 176,001,880.05 8,358,669.36 0.00 A-3 177,863,175.41 10,300,089.91 0.00 X-A1 0.00 377,437.16 0.00 X-A2 0.00 129,709.76 0.00 X-B 0.00 2,004.94 0.00 B-1 8,588,000.00 25,692.43 0.00 B-2 6,134,000.00 20,139.97 0.00 B-3 3,680,000.00 14,006.31 0.00 B-4 2,453,000.00 8,377.10 0.00 B-5 920,000.00 3,141.84 0.00 B-6 2,762,778.00 9,435.01 0.00 A-R 0.00 0.52 0.00 -------------- ------------- ---- Totals 719,327,765.63 31,362,696.50 0.00 -------------- ------------- ----
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT
Beginning Scheduled Unscheduled Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction ---------- --------------- ----------------- -------------- --------------- ---------- ----------- -------------- A-1 380,510,000.00 352,053,175.47 1,847.69 11,126,395.61 0.00 0.00 11,128,243.30 A-2 208,392,000.00 183,894,682.88 497.90 7,892,304.93 0.00 0.00 7,892,802.83 A-3 218,330,615.00 187,683,109.37 0.00 9,819,933.96 0.00 0.00 9,819,933.96 X-A1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-A2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 8,588,000.00 8,588,000.00 0.00 0.00 0.00 0.00 0.00 B-2 6,134,000.00 6,134,000.00 0.00 0.00 0.00 0.00 0.00 B-3 3,680,000.00 3,680,000.00 0.00 0.00 0.00 0.00 0.00 B-4 2,453,000.00 2,453,000.00 0.00 0.00 0.00 0.00 0.00 B-5 920,000.00 920,000.00 0.00 0.00 0.00 0.00 0.00 B-6 2,762,778.00 2,762,778.00 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- -------- ------------- ---- ---- ------------- Totals 831,770,493.00 748,168,745.72 2,345.59 28,878,634.50 0.00 0.00 28,840,980.09 -------------- -------------- -------- ------------- ---- ---- ------------- Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution ---------- --------------- ----------- ---------------- A-1 340,924,932.17 0.89596839 11,128,243.30 A-2 176,001,880.05 0.84457119 7,892,802.83 A-3 177,863,175.41 0.81465064 9,819,933.96 X-A1 0.00 0.00000000 0.00 X-A2 0.00 0.00000000 0.00 X-B 0.00 0.00000000 0.00 B-1 8,588,000.00 1.00000000 0.00 B-2 6,134,000.00 1.00000000 0.00 B-3 3,680,000.00 1.00000000 0.00 B-4 2,453,000.00 1.00000000 0.00 B-5 920,000.00 1.00000000 0.00 B-6 2,762,778.00 1.00000000 0.00 A-R 0.00 0.00000000 0.00 --------------- ----------- ------------- Totals 719,327,765.63 0.86481520 28,840,980.09 --------------- ----------- -------------
---------- (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 Scheduled Unscheduled Original Face Certificate Principal Principal Realized Total Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction ---------- --------------- ----------------- -------------- --------------- ---------- ----------- --------------- A-1 380,510,000.00 925.21399036 0.00485583 29.24074429 0.00000000 0.00000000 29.24560012 A-2 208,392,000.00 882.44598104 0.00238925 37.87239880 0.00000000 0.00000000 37.87478804 A-3 218,330,615.00 859.62799752 0.00000000 44.97735675 0.00000000 0.00000000 44.97735675 X-A1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-A2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,588,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 6,134,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,680,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,453,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 920,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,762,778.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution ---------- --------------------------------------------- A-1 895.96839024 0.89596839 29.24560012 A-2 844.57119299 0.84457119 37.87478804 A-3 814.65064077 0.81465064 44.97735675 X-A1 0.00000000 0.00000000 0.00000000 X-A2 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 B-1 1000.00000000 1.00000000 0.00000000 B-2 1000.00000000 1.00000000 0.00000000 B-3 1000.00000000 1.00000000 0.00000000 B-4 1000.00000000 1.00000000 0.00000000 B-5 1000.00000000 1.00000000 0.00000000 B-6 1000.00000000 1.00000000 0.00000000 A-R 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
Beginning Payment of Current Certificate/ Current Unpaid Current Non-Supported Original Face Certificate Notional Accrued Interest Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall Shortfall --------- -------------- ----------- -------------- ------------ ---------- --------- ------------- A-1 380,510,000.00 3.36000% 352,053,175.47 985,748.89 0.00 0.00 0.00 A-2 208,392,000.00 3.04000% 183,894,682.88 465,866.53 0.00 0.00 0.00 A-3 218,330,615.00 3.07000% 187,683,109.37 480,155.95 0.00 0.00 0.00 X-A1 0.00 0.84509% 535,947,858.35 377,437.16 0.00 0.00 0.00 X-A2 0.00 0.82933% 187,683,109.37 129,709.76 0.00 0.00 0.00 X-B 0.00 0.28979% 18,402,000.00 4,443.88 0.00 0.00 0.00 B-1 8,588,000.00 3.59000% 8,588,000.00 25,692.43 0.00 0.00 0.00 B-2 6,134,000.00 3.94000% 6,134,000.00 20,139.97 0.00 0.00 0.00 B-3 3,680,000.00 4.34000% 3,680,000.00 13,309.33 0.00 0.00 0.00 B-4 2,453,000.00 4.09805% 2,453,000.00 8,377.10 0.00 0.00 0.00 B-5 920,000.00 4.09805% 920,000.00 3,141.84 0.00 0.00 0.00 B-6 2,762,778.00 4.09805% 2,762,778.00 9,435.01 0.00 0.00 0.00 A-R 100.00 4.23342% 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- Totals 831,770,493.00 2,523,457.85 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance --------- ----------- -------------- ----------- -------------- A-1 0.00 985,748.89 0.00 340,924,932.17 A-2 0.00 465,866.53 0.00 176,001,880.05 A-3 0.00 480,155.95 0.00 177,863,175.41 X-A1 0.00 377,437.16 0.00 516,926,812.22 X-A2 0.00 129,709.76 0.00 177,863,175.41 X-B 0.00 2,004.94 0.00 18,402,000.00 B-1 0.00 25,692.43 0.00 8,588,000.00 B-2 0.00 20,139.97 0.00 6,134,000.00 B-3 0.00 14,006.31 0.00 3,680,000.00 B-4 0.00 8,377.10 0.00 2,453,000.00 B-5 0.00 3,141.84 0.00 920,000.00 B-6 0.00 9,435.01 0.00 2,762,778.00 A-R 0.00 0.52 0.00 0.00 ---- ------------ ---- Totals 0.00 2,521,716.41 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
Payment of Current Beginning Unpaid Current Non-Supported Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall ---------- -------------- ----------- ---------------- --------------- ----------- ---------- ------------- A-1 380,510,000.00 3.36000% 925.21399036 2.59059917 0.00000000 0.00000000 0.00000000 A-2 208,392,000.00 3.04000% 882.44598104 2.23552982 0.00000000 0.00000000 0.00000000 A-3 218,330,615.00 3.07000% 859.62799752 2.19921494 0.00000000 0.00000000 0.00000000 X-A1 0.00 0.84509% 910.07987467 0.64091676 0.00000000 0.00000000 0.00000000 X-A2 0.00 0.82933% 859.62799752 0.59409790 0.00000000 0.00000000 0.00000000 X-B 0.00 0.28979% 1000.00000000 0.24148897 0.00000000 0.00000000 0.00000000 B-1 8,588,000.00 3.59000% 1000.00000000 2.99166628 0.00000000 0.00000000 0.00000000 B-2 6,134,000.00 3.94000% 1000.00000000 3.28333388 0.00000000 0.00000000 0.00000000 B-3 3,680,000.00 4.34000% 1000.00000000 3.61666576 0.00000000 0.00000000 0.00000000 B-4 2,453,000.00 4.09805% 1000.00000000 3.41504280 0.00000000 0.00000000 0.00000000 B-5 920,000.00 4.09805% 1000.00000000 3.41504348 0.00000000 0.00000000 0.00000000 B-6 2,762,778.00 4.09805% 1000.00000000 3.41504457 0.00000000 0.00000000 0.00000000 A-R 100.00 4.23342% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Unpaid Realized Total Interest Interest Ending Certificate/ Class (5) Loss (6) Distribution Shortfall Notational Balance ---------- ----------- ---------------------------- ------------------- A-1 0.00000000 2.59059917 0.00000000 895.96839024 A-2 0.00000000 2.23552982 0.00000000 844.57119299 A-3 0.00000000 2.19921494 0.00000000 814.65064077 X-A1 0.00000000 0.64091676 0.00000000 877.78070412 X-A2 0.00000000 0.59409790 0.00000000 814.65064077 X-B 0.00000000 0.10895229 0.00000000 1000.00000000 B-1 0.00000000 2.99166628 0.00000000 1000.00000000 B-2 0.00000000 3.28333388 0.00000000 1000.00000000 B-3 0.00000000 3.80606250 0.00000000 1000.00000000 B-4 0.00000000 3.41504280 0.00000000 1000.00000000 B-5 0.00000000 3.41504348 0.00000000 1000.00000000 B-6 0.00000000 3.41504457 0.00000000 1000.00000000 A-R 0.00000000 5.20000000 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 31,499,991.93 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 42,587.68 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 31,542,579.61 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 179,883.11 Payment of Interest and Principal 31,362,696.50 ------------- Total Withdrawals (Pool Distribution Amount) 31,542,579.61 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 175,212.40 Master Servicing Fee 4,670.71 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 179,883.11 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ---------------------------------- --------- ----------- -------- -------- Class X-A1 Pool 1 Comp. Sub Amount 3,000.00 0.00 0.00 3,000.00 Class X-A1 Pool 2 Comp. Sub Amount 3,000.00 0.00 0.00 3,000.00 Class X-A2 Sub Amount 3,000.00 0.00 0.00 3,000.00 Class X-B Sub Amount 0.00 1,438.95 2,438.95 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance ------ ------------- 0-29 Days 0 0.00 30 Days 31 11,460,046.61 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 ------ ------------- 31 11,460,046.61
No. of Principal Loans Balance --------- --------- 0-29 Days 0.000000% 0.000000% 30 Days 1.933874% 2.116489% 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% -------- -------- 1.933874% 2.116489%
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 31 11,460,046.61 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 ------ ------------- 31 11,460,046.61
No. of Principal Loans Balance --------- --------- 0-29 Days 0.000000% 0.000000% 30 Days 1.933874% 2.116489% 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% -------- -------- 1.933874% 2.116489%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 42,587.68
DELINQUENCY STATUS BY GROUP GROUP ONE DELINQUENT
No. of Principal Loans Balance ------ ------------ 0-29 Days 0 0.00 30 Days 20 7,841,857.61 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 ------ ------------ 20 7,841,857.61
No. of Principal Loans Balance -------- --------- 0-29 Days 0.000000% 0.000000% 30 Days 1.966568% 2.197947% 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% -------- --------- 1.966568% 2.197947%
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 20 7,841,857.61 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 ------- ------------ 20 7,841,857.61
No. of Principal Loans Balance -------- --------- 0-29 Days 0.000000% 0.000000% 30 Days 1.966568% 2.197947% 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% -------- --------- 1.966568% 2.197947%
DELINQUENT GROUP TWO
No. of Principal Loans Balance ------ ------------ 0-29 Days 0 0.00 30 Days 11 3,618,189.00 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 ------ ------------ 11 3,618,189.00
No. of Principal Loans Balance -------- --------- 0-29 Days 0.000000% 0.000000% 30 Days 1.877133% 1.959125% 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% -------- --------- 1.877133% 1.959125%
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 11 3,618,189.00 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 ------ ------------ 11 3,618,189.00
No. of Principal Loans Balance -------- --------- 0-29 Days 0.000000% 0.000000% 30 Days 1.877133% 1.959125% 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% -------- --------- 1.877133% 1.959125%
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed Arm ---------------------- ----------------- Weighted Average Gross Coupon 4.480544% Weighted Average Net Coupon 4.105414% Weighted Average Pass-Through Rate 3.371182% Weighted Average Maturity (Stepdown Calculation) 333 Beginning Scheduled Collateral Loan Count 1,651 Number of Loans Paid in Full 48 Ending Scheduled Collateral Loan Count 1,603 Beginning Scheduled Collateral Balance 560,485,637.26 Ending Scheduled Collateral Balance 541,464,591.13 Ending Actual Collateral Balance at 31-May-2005 541,464,947.63 Monthly P&I Constant 2,095,079.22 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 2,345.59 Unscheduled Principal 19,018,700.54
MISCELLANEOUS REPORTING ----------------------- Rapid Prepay Condition? NO Underlying Certificate Balance 177,863,175.43 Underlying Certificate Interest 609,865.72 Underlying Certificate Principal 9,819,933.94
GROUP GROUP ONE GROUP TWO TOTAL ----- --------- --------- ----- Collateral Description Mixed ARM 6 Month LIBOR ARM Mixed ARM Weighted Average Coupon Rate 4.392205 4.649310 4.480544 Weighted Average Net Rate 4.017117 4.274099 4.105414 Weighted Average Maturity 332 336 333 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal and Interest Constant 1,348,453.31 746,625.91 2,095,079.22 Beginning Loan Count 1,048 603 1,651 Loans Paid in Full 31 17 48 Ending Loan Count 1,017 586 1,603 Beginning Scheduled Balance 367,907,894.32 192,577,742.94 560,485,637.26 Ending Scheduled Balance 356,779,651.02 184,684,940.11 541,464,591.13 Scheduled Principal 1,847.69 497.90 2,345.59 Unscheduled Principal 11,126,395.61 7,892,304.93 19,018,700.54 Scheduled Interest 1,346,605.62 746,128.01 2,092,733.63 Servicing Fee 114,998.07 60,214.33 175,212.40 Master Servicing Fee 3,065.90 1,604.81 4,670.71 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 1,228,541.65 684,308.87 1,912,850.52 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 One Month Libor Loan Balance 191,808,845.75 Six Month Libor Loan Balance 164,970,805.27 Principal Transfer Amount 0.00 Interest Transfer Amount 0.00 Pro Rata Senior Percent 95.690574% Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Group Two Principal Transfer Amount 0.00 Interest Transfer Amount 0.00 Pro Rata Senior Percent 95.491140% Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000%