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

May 22, 2006
Date of Report (Date of Earliest Event Reported)

SEQUOIA RESIDENTIAL FUNDING, INC.
SEQUOIA MORTGAGE TRUST 2004-12
(as Depositor of Sequoia Mortgage Trust 2004-12, the Issuer of Mortgage Pass-Through
Certificates under a Pooling and Servicing Agreement
dated as of December 1, 2004)

SEQUOIA RESIDENTIAL FUNDING, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	333-118832-05	35-2170972
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

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):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o 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 2004-12 (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, May 22, 2006.

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: June 2, 2006

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, May 22, 2006	5

EX-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: April 28, 2006
Distribution Date: May 22, 2006

Certificateholder Distribution Summary

		Certificate	Certificate
		Class	Pass-Through			Beginning		Interest		Principal		Current		Ending Certificate		Total		Cumulative
Class	CUSIP	Description	Rate			Certificate Balance		Distribution		Distribution		Realized Loss		Balance		Distribution		Realized Loss
A-1	81744FFY8	SEN		5.19250	%		184,650,416.16		798,997.74		12,810,002.41		0.00		171,840,413.75		13,609,000.15		0.00
A-2	81744FFZ5	SEN		4.95688	%		95,865,214.44		395,993.64		6,957,482.02		0.00		88,907,732.43		7,353,475.66		0.00
A-3	81744FGA9	SEN		4.98688	%		82,259,394.59		341,848.11		3,926,522.62		0.00		78,332,871.97		4,268,370.73		0.00
X-A1	81744FGB7	IO		0.65626	%		0.00		153,409.94		0.00		0.00		0.00		153,409.94		0.00
X-A2	81744FGC5	IO		0.94412	%		0.00		64,719.07		0.00		0.00		0.00		64,719.07		0.00
X-B	81744FGD3	IO		0.10678	%		0.00		1,194.15		0.00		0.00		0.00		1,194.15		0.00
B-1	81744FGF8	SUB		5.42250	%		8,588,000.00		38,807.03		290,056.65		0.00		8,297,943.35		328,863.68		0.00
B-2	81744FGG6	SUB		5.77250	%		6,134,000.00		29,507.10		207,173.67		0.00		5,926,826.33		236,680.77		0.00
B-3	81744FGH4	SUB		6.17250	%		3,680,000.00		18,929.00		124,290.69		0.00		3,555,709.31		143,219.69		0.00
B-4	81744FGJ0	SUB		5.76702	%		2,453,000.00		11,788.75		82,849.20		0.00		2,370,150.80		94,637.95		0.00
B-5	81744FGK7	SUB		5.76702	%		920,000.00		4,421.38		31,072.67		0.00		888,927.33		35,494.05		0.00
B-6	81744FGL5	SUB		5.76702	%		2,762,778.00		13,277.50		93,311.85		0.00		2,669,466.15		106,589.35		0.00
A-R	81744FGE1	RES		4.66404	%		0.00		0.17		0.00		0.00		0.00		0.17		0.00
Totals							387,312,803.19		1,872,893.58		24,522,761.78		0.00		362,790,041.42		26,395,655.36		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
	Original Face		Certificate		Principal		Principal				Realized		Total Principal		Ending Certificate		Ending Certificate		Total Principal
Class	Amount		Balance		Distribution		Distribution		Accretion		Loss		Reduction		Balance		Percentage		Distribution
A-1		380,510,000.00		184,650,416.16		888.29		12,809,114.11		0.00		0.00		12,810,002.41		171,840,413.75		0.45160551		12,810,002.41
A-2		208,392,000.00		95,865,214.44		358.41		6,957,123.60		0.00		0.00		6,957,482.02		88,907,732.43		0.42663697		6,957,482.02
A-3		218,330,615.00		82,259,394.59		0.00		3,926,522.62		0.00		0.00		3,926,522.62		78,332,871.97		0.35878098		3,926,522.62
X-A1		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00000000		0.00
X-A2		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00000000		0.00
X-B		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00000000		0.00
B-1		8,588,000.00		8,588,000.00		18.23		290,038.42		0.00		0.00		290,056.65		8,297,943.35		0.96622536		290,056.65
B-2		6,134,000.00		6,134,000.00		13.02		207,160.65		0.00		0.00		207,173.67		5,926,826.33		0.96622536		207,173.67
B-3		3,680,000.00		3,680,000.00		7.81		124,282.88		0.00		0.00		124,290.69		3,555,709.31		0.96622536		124,290.69
B-4		2,453,000.00		2,453,000.00		5.21		82,844.00		0.00		0.00		82,849.20		2,370,150.80		0.96622536		82,849.20
B-5		920,000.00		920,000.00		1.95		31,070.72		0.00		0.00		31,072.67		888,927.33		0.96622535		31,072.67
B-6		2,762,778.00		2,762,778.00		5.87		93,305.98		0.00		0.00		93,311.85		2,669,466.15		0.96622535		93,311.85
A-R		100.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00000000		0.00
Totals		831,770,493.00		387,312,803.19		1,298.79		24,521,462.98		0.00		0.00		24,522,761.78		362,790,041.42		0.43616604		24,522,761.78

Principal Distribution Factors Statement

			Beginning		Scheduled		Unscheduled										Ending
	Original Face		Certificate		Principal		Principal				Realized		Total Principal		Ending Certificate		Certificate		Total Principal
Class	Amount		Balance		Distribution		Distribution		Accretion		Loss		Reduction		Balance		Percentage		Distribution
A-1		380,510,000.00		485.27086321		0.00233447		33.66301572		0.00000000		0.00000000		33.66535021		451.60551300		0.45160551		33.66535021
A-2		208,392,000.00		460.02348670		0.00171988		33.38479212		0.00000000		0.00000000		33.38651205		426.63697469		0.42663697		33.38651205
A-3		218,330,615.00		376.76527678		0.00000000		17.98429698		0.00000000		0.00000000		17.98429698		358.78097980		0.35878098		17.98429698
X-A1		0.00		0.00000000		0.00000000		0.00000000		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		0.00000000		0.00000000		0.00000000
X-B		0.00		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000
B-1		8,588,000.00		1000.00000000		0.00212273		33.77252212		0.00000000		0.00000000		33.77464485		966.22535515		0.96625536		33.77464485
B-2		6,134,000.00		1000.00000000		0.00212260		33.77252201		0.00000000		0.00000000		33.77464460		966.22535540		0.96622536		33.77464460
B-3		3,680,000.00		1000.00000000		0.00212228		33.77252174		0.00000000		0.00000000		33.77464402		966.22535598		0.96622536		33.77464402
B-4		2,453,000.00		1000.00000000		0.00212393		33.77252344		0.00000000		0.00000000		33.77464329		966.22535671		0.96622536		33.77464329
B-5		920,000.00		1000.00000000		0.00211957		33.77252174		0.00000000		0.00000000		33.77464130		966.22535870		0.96622536		33.77464130
B-6		2,762,778.00		1000.00000000		0.00212467		33.77252172		0.00000000		0.00000000		33.77464639		966.22535361		0.96622535		33.77464639
A-R		100.00		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000

insinuate

Interest Distribution- Statement

										Payment
										of				Non-				Remaining		Ending
			Current			Beginning		Current		Unpaid		Current		Supported				Unpaid		Certificate/
		Accrual	Certificate			Certificate/		Accrued		Interest		Interest		Interest		Total Interest		Interest		Notational
Class	Accural Dates	Days	Rate			Notional Balance		Interest		Shortfall		Shortfall		Shortfall(1)		Distribution		Shortfall(2)		Balance
A-1	04/20/06 – 05/19/06	30		5.19250	%		184,650,416.16		798,997.74		0.00		0.00		0.00		798,977.74		0.00		171,840,413.75
A-2	04/20/06 – 05/19/06	30		4.95688	%		95,865,214.44		395,993.64		0.00		0.00		0.00		395,993.64		0.00		88,907,732.43
A-3	04/20/06 – 05/19/06	30		4.98688	%		82,259,394.59		341,848.11		0.00		0.00		0.00		341,848.11		0.00		78,332,871.97
X-A1	04/01/06 – 04/30/06	30		0.65626	%		280,515,630.60		153,409.94		0.00		0.00		0.00		153,409.94		0.00		260,748,146.18
X-A2	04/01/06 – 04/30/06	30		0.94412	%		82,259,394.59		64,719.07		0.00		0.00		0.00		64,719.07		0.00		78,332,871.97
X-B	04/01/06 – 04/30/06	30		0.16078	%		18,402,000.00		2,465.63		0.00		0.00		0.00		1,194.15		0.00		17,780,478.98
B-1	04/20/06 – 05/19/06	30		5.42250	%		8,588,000.00		38,807.03		0.00		0.00		0.00		38,807.03		0.00		8,297,943.35
B-2	04/20/06 – 05/19/06	30		5.77250	%		6,134,000.00		29,507.10		28.00		28.00		0.00		29,507.10		0.00		5,926,826.33
B-3	04/20/06 – 05/19/06	30		6.17250	%		3,680,000.00		18,929.00		1,243.47		1,243.47		0.00		18,929.00		0.00		3,555,709.31
B-4	04/01/06 – 04/30/06	30		5.76702	%		2,453,000.00		11,788.75		0.00		0.00		0.00		11,788.75		0.00		2,370,150.80
B-5	04/01/06 – 04/30/06	30		5.76702	%		920,000.00		4,421.38		0.00		0.00		0.00		4,421.38		0.00		888,927.33
B-6	04/01/06 – 04/30/06	30		5.76702	%		2,762,778.00		13,277.50		0.00		0.00		0.00		13,277.50		0.00		2,669,466.15
A-R	N/A	N/A		4.66404	%		0.00		0.00		0.00		0.00		0.00		0.17		0.00		0.00
Totals									1,874,164.89		1,271.47		1,271.47		0.00		1,872,893.58		0.00

(1, 2) Amount also includes coupon cap or basis risk shortfalls, if applicable.

Interest Distribution Factors Statement

						Beginning				Payment of								Remaining		Ending
			Current			Certificate/				Unpaid				Non-Supported				Unpaid		Certificate/
	Original Face		Certificate			Notional		Current		Interest		Current Interest		Interest		Total Interest		Interest		Notational
Class	Amount		Rate			Balance		Accrued Interest		Shortfall		Shortfall(1)		Shortfall		Distribution		Shortfall(2)		Balance
A-1		380,510,000.00		5.19250	%		485.27086321		2.09980747		0.00000000		0.00000000		0.00000000		2.09980747		0.00000000		451.60551300
A-2		208,392,000.00		4.95688	%		460.02348670		1.90023437		0.00000000		0.00000000		0.00000000		1.90023437		0.00000000		426.63697469
A-3		218,330,615.00		4.98688	%		376.76527678		1.56573603		0.00000000		0.00000000		0.00000000		1.56573603		0.00000000		358.78097980
X-A1		0.00		0.65626	%		476.33669201		0.26050165		0.00000000		0.00000000		0.00000000		0.26050165		0.00000000		442.77001297
X-A2		0.00		0.94412	%		376.76527678		0.29642691		0.00000000		0.00000000		0.00000000		0.29642691		0.00000000		358.78097980
X-B		0.00		0.16078	%		1000.00000000		0.13398707		0.00000000		0.00000000		0.00000000		0.06489240		0.00000000		966.22535485
B-1		8,588,000.00		5.42250	%		1000.00000000		4.51875058		0.00000000		0.00000000		0.00000000		4.51875058		0.00000000		966.22535515
B-2		6,134,000.00		5.77250	%		1000.00000000		4.81041735		0.00456472		0.00456472		0.00000000		4.81041735		0.00000000		966.22535540
B-3		3,680,000.00		6.17250	%		1000.00000000		5.14375000		0.33789946		0.33789946		0.00000000		5.14375000		0.00000000		966.22535598
B-4		2,453,000.00		5.76702	%		1000.00000000		4.80584998		0.00000000		0.00000000		0.00000000		4.80584998		0.00000000		966.22535671
B-5		920,000.00		5.76702	%		1000.00000000		4.80584783		0.00000000		0.00000000		0.00000000		4.80584783		0.00000000		966.22535870
B-6		2,762,778.00		5.76702	%		1000.00000000		4.80585121		0.00000000		0.00000000		0.00000000		4.80585121		0.00000000		966.22535361
A-R		100.00		4.66404	%		0.00000000		0.00000000		0.00000000		0.00000000		0.00000000		1.70000000		0.00000000		0.00000000

(1, 2) Amount also includes coupon cap or basis risk shortfalls, if applicable.

Per $1 denomination

Certificateholder Account Statement

Certificate Account

Beginning Balance	0.00
Deposits
Payments of Interest and Principal	26,483,596.09
Reserve Funds and Credit Enhancements	0.00
Proceeds from Repurchased Loans	0.00
Servicer Advances	57,317.33
Gains & Subsequent Recoveries (Realized Loss)	0.00
Prepayment Penalties	0.00
Total Deposits	26,540,913.42
Withdrawals
Reserve Funds and Credit Enhancements	0.00
Reimbursement for Servicer Advances	47,355.31
Total Administration Fees	97,902.75
Payment of Interest and Principal	26,395,655.36
Total Withdrawals (Pool Distribution Amount)	26,540,913.42
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

Administration Fees

Gross Servicing Fee*	95,360.63
Master Servicing Fee	2,542.12
Supported Prepayment/Curtailment Interest Shortfall	0.00
Total Administration Fees	97,902.75

*Servicer Payees include: BANK OF AMERICA (NY); GMAC MTG CORP; MORGAN STANLEY DEAN WITTER; PHH US MTG CORP

Reserve 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		1,000.00		1,271.47		1,271.47		1,000.00

Collateral Statement

Collateral Description	Mixed ARM
Weighted Average Gross Coupon		6.153266	%
Weighted Average Net Coupon		5.778143	%
Weighted Average Pass-Through Rate		4.972224	%
Weighted Average Remaining Term		323
Beginning Scheduled Collateral Loan Count		979
Number of Loans Paid in Full		53
Ending Scheduled Collateral Loan Count		926
Beginning Scheduled Collateral Balance		305,053,409.51
Ending Scheduled Collateral Balance		284,457,170.34
Ending Actual Collateral Balance at 28-Apr-2006		284,457,439.74
Monthly P&I Constant		1,565,527.89
Special Servicing Fee		0.00
Prepayment Penalty Paid Amount		0.00
Prepayment Penalty Paid Count		0
Realized Loss Amount		0.00
Cumulative Realized Loss		0.00
Scheduled Principal		1,298.80
Unscheduled Principal		20,594,940.37

Group	Group One		Group Two		Total
Collateral Description	Mixed ARM		6 Month LIBOR ARM		Mixed ARM
Weighted Average Coupon Rate		6.187654		6.087318		6.153266
Weighted Average Net Rate		5.812614		5.712034		5.778143
Weighted Average Remaining Term		322		325		323
Record Date		04/28/2006		04/28/2006		04/28/2006
Principal and Interest Constant		1,034,805.16		530,722.73		1,565,527.89
Beginning Loan Count		615		364		979
Loans Paid in Full		34		19		53
Ending Loan Count		581		345		926
Beginning Scheduled Balance		200,505,135.01		104,548,274.50		305,053,409.51
Ending Scheduled Balance		187,167,815.82		97,289,354.52		284,457,170.34
Scheduled Principal		924.86		373.94		1,298.80
Unscheduled Principal		13,336,394.33		7,258,546.04		20,594,940.37
Scheduled Interest		1,033,880.30		530,348.79		1,564,229.09
Servicing Fee		62,664.56		32,696.07		95,360.63
Master Servicing Fee		1,670.88		871.24		2,542.12
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		969,544.86		496,781.48		1,466,326.34
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 Penalty Paid Amount		0.00		0.00		0.00
Prepayment Penalty Paid Count		0		0		0
Special Servicing Fee		0.00		0.00		0.00

Additional Reporting – Deal Level

Miscellaneous Reporting

Rapid Prepay Event?	NO
Underlying Certificate Balance		177,633,287.78
Underlying Certificate Interest		406,567.18
Underlying Certificate Principal		3,926,522.60

Additional Reporting – Group Level

Miscellaneous Reporting

Group One
One Month Libor Loan Balance	103,232,472.16
Six Month Libor Loan Balance	83,935,343.66
Principal Transfer Amount	0.00
Interest Transfer Amount	0.00
Pro Rata Senior Percent	92.092612	%
Senior Percent	96.046306	%
Senior Prepayment Percent	96.046306	%
Subordinate Percent	3.953694	%
Subordinate Prepayment Percent	3.953694	%
Group Two
Principal Transfer Amount	0.00
Interest Transfer Amount	0.00
Pro Rata Senior Percent	91.694688	%
Senior Percent	95.847344	%
Senior Prepayment Percent	95.847344	%
Subordinate Percent	4.152656	%
Subordinate Prepayment Percent	4.152656	%

Loan Status Stratification/Credit Enhancement Statement

DELINQUENT				BANKRUPTCY				FORECLOSURE				REO				TOTAL
	No. of	Principal			No. of	Principal			No. of	Principal			No. of	Principal			No. of	Principal
	Loans	Balance			Loans	Balance			Loans	Balance			Loans	Balance			Loans	Balance
0-29 Days	0	0.00		0-29 Days	0	0.00		0-29 Days	0	0.00		0-29 Days	0	0.00		0-29 Days	0	0.00
30 Days	26	8,675,332.71		30 Days	0	0.00		30 Days	0	0.00		30 Days	0	0.00		30 Days	26	8,675,332.71
60 Days	3	2,381,971.99		60 Days	0	0.00		60 Days	0	0.00		60 Days	0	0.00		60 Days	3	2,381,971.99
90 Days	1	462,999.99		90 Days	0	0.00		90 Days	0	0.00		90 Days	0	0.00		90 Days	1	462,999.99
120 Days	0	0.00		120 Days	0	0.00		120 Days	0	0.00		120 Days	0	0.00		120 Days	0	0.00
150 Days	0	0.00		150 Days	0	0.00		150 Days	0	0.00		150 Days	0	0.00		150 Days	0	0.00
180+ Days	1	185,466.73		180+ Days	0	0.00		180+ Days	0	0.00		180+ Days	0	0.00		180+ Days	1	185,466.73
	31	11,705,771.42			0	0.00			0	0.00			0	0.00			31	11,705,771.42
	No. of	Principal			No. of	Principal			No. of	Principal			No. of	Principal			No. of	Principal
	Loans	Balance			Loans	Balance			Loans	Balance			Loans	Balance			Loans	Balance
0-29 Days	0.000000%	0.000000	%	0-29 Days	0.000000%	0.000000	%	0-29 Days	0.000000%	0.000000	%	0-29 Days	0.000000%	0.000000	%	0-29 Days	0.000000%	0.000000	%
30 Days	2.807775%	3.049782	%	30 Days	0.000000%	0.000000	%	30 Days	0.000000%	0.000000	%	30 Days	0.000000%	0.000000	%	30 Days	2.807775%	3.049782	%
60 Days	0.323974%	0.837374	%	60 Days	0.000000%	0.000000	%	60 Days	0.000000%	0.000000	%	60 Days	0.000000%	0.000000	%	60 Days	0.323974%	0.837374	%
90 Days	0.107991%	0.162766	%	90 Days	0.000000%	0.000000	%	90 Days	0.000000%	0.000000	%	90 Days	0.000000%	0.000000	%	90 Days	0.107991%	0.162766	%
120 Days	0.000000%	0.000000	%	120 Days	0.000000%	0.000000	%	120 Days	0.000000%	0.000000	%	120 Days	0.000000%	0.000000	%	120 Days	0.000000%	0.000000	%
150 Days	0.000000%	0.000000	%	150 Days	0.000000%	0.000000	%	150 Days	0.000000%	0.000000	%	150 Days	0.000000%	0.000000	%	150 Days	0.000000%	0.000000	%
180+ Days	0.107991%	0.065200	%	180+ Days	0.000000%	0.000000	%	180+ Days	0.000000%	0.000000	%	180+ Days	0.000000%	0.000000	%	180+ Days	0.107991%	0.065200	%
	3.347732%	4.115122	%		0.000000%	0.000000	%		0.000000%	0.000000	%		0.000000%	0.000000	%		3.347732%	4.115122	%

Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 57,317.33

Delinquency Status by Group

DELINQUENT					BANKRUPTCY					FORECLOSURE					REO					TOTAL
Group One
	No. of	Principal				No. of	Principal				No. of	Principal				No. of	Principal				No. of	Principal
	Loans	Balance				Loans	Balance				Loans	Balance				Loans	Balance				Loans	Balance
0-29 Days	0		0.00		0-29 Days	0		0.00		0-29 Days	0		0.00		0-29 Days	0		0.00		0-29 Days	0		0.00
30 Days	16		5,938,332.03		30 Days	0		0.00		30 Days	0		0.00		30 Days	0		0.00		30 Days	16		5,938,332.03
60 Days	2		2,173,972.00		60 Days	0		0.00		60 Days	0		0.00		60 Days	0		0.00		60 Days	2		2,173,972.00
90 Days	1		462,999.99		90 Days	0		0.00		90 Days	0		0.00		90 Days	0		0.00		90 Days	1		462,999.99
120 Days	0		0.00		120 Days	0		0.00		120 Days	0		0.00		120 Days	0		0.00		120 Days	0		0.00
150 Days	0		0.00		150 Days	0		0.00		150 Days	0		0.00		150 Days	0		0.00		150 Days	0		0.00
180+ Days	1		185,466.73		180+ Days	0		0.00		180+ Days	0		0.00		180+ Days	0		0.00		180+ Days	1		185,466.73
	20		8,760,770.75			0		0.00			0		0.00			0		0.00			20		8,760,770.75
	No. of	Principal				No. of	Principal				No. of	Principal				No. of	Principal				No. of	Principal
	Loans	Balance				Loans	Balance				Loans	Balance				Loans	Balance				Loans	Balance
0-29 Days	0.000000%		0.000000	%	0-29 Days	0.000000%		0.000000	%	0-29 Days	0.000000%		0.000000	%	0-29 Days	0.000000%		0.000000	%	0-29 Days	0.000000%		0.000000	%
30 Days	2.753873%		3.172727	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	2.753873%		3.172727	%
60 Days	0.344234%		1.161508	%	60 Days	0.000000%		0.000000	%	60 Days	0.000000%		0.000000	%	60 Days	0.000000%		0.000000	%	60 Days	0.344234%		1.161508	%
90 Days	0.172117%		0.247371	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.172117%		0.247371	%
120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%
150 Days	0.000000%		0.000000	%	150 Days	0.000000%		0.000000	%	150 Days	0.000000%		0.000000	%	150 Days	0.000000%		0.000000	%	150 Days	0.000000%		0.000000	%
180+ Days	0.172117%		0.099091	%	180+ Days	0.000000%		0.000000	%	180+ Days	0.000000%		0.000000	%	180+ Days	0.000000%		0.000000	%	180+ Days	0.172117%		0.099091	%
	3.442341%		4.680697	%		0.000000%		0.000000	%		0.000000%		0.000000	%		0.000000%		0.000000	%		3.442341%		4.680697	%

DELINQUENT					BANKRUPTCY					FORECLOSURE					REO					TOTAL
Group Two						1.183654%
	No. of	Principal				No. of	Principal				No. of	Principal				No. of	Principal				No. of	Principal
	Loans	Balance				Loans	Balance				Loans	Balance				Loans	Balance				Loans	Balance
0-29 Days	0		0.00		0-29 Days	0		0.00		0-29 Days	0		0.00		0-29 Days	0		0.00		0-29 Days	0		0.00
30 Days	10		2,737,000.68		30 Days	0		0.00		30 Days	0		0.00		30 Days	0		0.00		30 Days	10		2,737,000.68
60 Days	1		207,999.99		60 Days	0		0.00		60 Days	0		0.00		60 Days	0		0.00		60 Days	1		207,999.99
90 Days	0		0.00		90 Days	0		0.00		90 Days	0		0.00		90 Days	0		0.00		90 Days	0		0.00
120 Days	0		0.00		120 Days	0		0.00		120 Days	0		0.00		120 Days	0		0.00		120 Days	0		0.00
150 Days	0		0.00		150 Days	0		0.00		150 Days	0		0.00		150 Days	0		0.00		150 Days	0		0.00
180+ Days	0		0.00		180+ Days	0		0.00		180+ Days	0		0.00		180+ Days	0		0.00		180+ Days	0		0.00
	11		2,945,000.67			0		0.00			0		0.00			0		0.00			11		2,945,000.67
	No. of	Principal				No. of	Principal				No. of	Principal				No. of	Principal				No. of	Principal
	Loans	Balance				Loans	Balance				Loans	Balance				Loans	Balance				Loans	Balance
0-29 Days	0.000000%		0.000000	%	0-29 Days	0.000000%		0.000000	%	0-29 Days	0.000000%		0.000000	%	0-29 Days	0.000000%		0.000000	%	0-29 Days	0.000000%		0.000000	%
30 Days	2.898551%		2.813258	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	2.898551%		2.813258	%
60 Days	0.289855%		0.213795	%	60 Days	0.000000%		0.000000	%	60 Days	0.000000%		0.000000	%	60 Days	0.000000%		0.000000	%	60 Days	0.289855%		0.213795	%
90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%
120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%
150 Days	0.000000%		0.000000	%	150 Days	0.000000%		0.000000	%	150 Days	0.000000%		0.000000	%	150 Days	0.000000%		0.000000	%	150 Days	0.000000%		0.000000	%
180+ Days	0.000000%		0.000000	%	180+ Days	0.000000%		0.000000	%	180+ Days	0.000000%		0.000000	%	180+ Days	0.000000%		0.000000	%	180+ Days	0.000000%		0.000000	%
	3.188406%		3.027053	%		0.000000%		0.000000	%		0.000000%		0.000000	%		0.000000%		0.000000	%		3.188406%		3.027053	%