8-K 1 ace05sd1_10505.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 25, 2005 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-SD1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-119047-04 54-2165616 Pooling and Servicing Agreement) (Commission 54-2165617 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On May 25, 2005 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2005-SD1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-SD1 Trust, relating to the May 25, 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. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-SD1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 5/26/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-SD1 Trust, relating to the May 25, 2005 distribution. EX-99.1
ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 4/29/2005 Distribution Date: 5/25/2005 ACE Securities Corporation Asset Backed Pass-Through Certificates Series ACE 2005-SD1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 004421KJ1 SEN 3.42000% 86,951,974.50 247,813.13 3,821,423.08 M-1 004421KK8 SEN 3.77000% 15,279,000.00 48,001.53 0.00 M-2 004421KL6 SEN 4.27000% 7,826,000.00 27,847.52 0.00 M-3 004421KM4 SEN 6.52000% 7,081,000.00 38,473.43 0.00 M-4 004421KN2 SEN 6.02000% 1,863,000.00 9,346.05 0.00 CE ACE05SD1C SEN 0.00000% 7,839,764.57 0.00 0.00 P ACE05SD1P SEN 0.00000% 100.00 19,406.12 0.00 R-1 ACE5SD1R1 SEN 0.00000% 0.00 0.00 0.00 Totals 126,840,839.07 390,887.78 3,821,423.08
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 83,130,551.42 4,069,236.21 0.00 M-1 0.00 15,279,000.00 48,001.53 0.00 M-2 0.00 7,826,000.00 27,847.52 0.00 M-3 0.00 7,081,000.00 38,473.43 0.00 M-4 0.00 1,863,000.00 9,346.05 0.00 CE 0.00 8,272,533.69 0.00 0.00 P 0.00 100.00 19,406.12 0.00 R-1 0.00 0.00 0.00 0.00 Totals 0.00 123,452,185.11 4,212,310.86 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 Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 112,394,000.00 86,951,974.50 0.00 3,824,519.03 0.00 0.00 M-1 15,279,000.00 15,279,000.00 0.00 0.00 0.00 0.00 M-2 7,826,000.00 7,826,000.00 0.00 0.00 0.00 0.00 M-3 7,081,000.00 7,081,000.00 0.00 0.00 0.00 0.00 M-4 1,863,000.00 1,863,000.00 0.00 0.00 0.00 0.00 CE 4,598,579.00 7,839,764.57 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 Totals 149,041,679.00 126,840,839.07 0.00 3,824,519.03 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 3,821,423.08 83,130,551.42 0.73963514 3,821,423.08 M-1 0.00 15,279,000.00 1.00000000 0.00 M-2 0.00 7,826,000.00 1.00000000 0.00 M-3 0.00 7,081,000.00 1.00000000 0.00 M-4 0.00 1,863,000.00 1.00000000 0.00 CE 0.00 8,272,533.69 1.79893260 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 Totals 3,821,423.08 123,452,185.11 0.82830646 3,821,423.08
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 112,394,000.00 773.63537644 0.00000000 34.02778645 0.00000000 M-1 15,279,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 7,826,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 7,081,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 1,863,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 4,598,579.00 1704.82328780 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 34.00024094 739.63513551 0.73963514 34.00024094 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 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 1,798.93260288 1.79893260 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 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 Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 112,394,000.00 3.42000% 86,951,974.50 247,813.13 0.00 0.00 M-1 15,279,000.00 3.77000% 15,279,000.00 48,001.53 0.00 0.00 M-2 7,826,000.00 4.27000% 7,826,000.00 27,847.52 0.00 0.00 M-3 7,081,000.00 6.52000% 7,081,000.00 38,473.43 0.00 0.00 M-4 1,863,000.00 6.02000% 1,863,000.00 9,346.05 0.00 0.00 CE 4,598,579.00 0.00000% 7,839,764.57 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 149,041,679.00 371,481.66 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 247,813.13 0.00 83,130,551.42 M-1 0.00 0.00 48,001.53 0.00 15,279,000.00 M-2 0.00 0.00 27,847.52 0.00 7,826,000.00 M-3 0.00 0.00 38,473.43 0.00 7,081,000.00 M-4 0.00 0.00 9,346.05 0.00 1,863,000.00 CE 0.00 0.00 0.00 0.00 8,272,533.69 P 0.00 0.00 19,406.12 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 390,887.78 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 Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 112,394,000.00 3.42000% 773.63537644 2.20486085 0.00000000 0.00000000 M-1 15,279,000.00 3.77000% 1000.00000000 3.14166699 0.00000000 0.00000000 M-2 7,826,000.00 4.27000% 1000.00000000 3.55833376 0.00000000 0.00000000 M-3 7,081,000.00 6.52000% 1000.00000000 5.43333286 0.00000000 0.00000000 M-4 1,863,000.00 6.02000% 1000.00000000 5.01666667 0.00000000 0.00000000 CE 4,598,579.00 0.00000% 1704.82328780 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 2.20486085 0.00000000 739.63513551 M-1 0.00000000 0.00000000 3.14166699 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.55833376 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 5.43333286 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 5.01666667 0.00000000 1000.00000000 CE 0.00000000 0.00000000 0.00000000 0.00000000 1798.93260288 P 0.00000000 0.00000000 194061.20000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 4,259,515.95 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 177,589.75 Realized Loss (Gains, Subsequent Expenses & Recoveries) (3,095.95) Prepayment Penalties 19,406.12 Total Deposits 4,453,415.87 Withdrawals Reimbursement for Servicer Advances 180,591.36 Payment of Service Fee 60,513.66 Payment of Interest and Principal 4,212,310.85 Total Withdrawals (Pool Distribution Amount) 4,453,415.87 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 52,850.35 Credit Risk Manager Fee- Risk Management Group, LLC 2,114.02 Master Servicing Fee 5,549.29 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 60,513.66
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS 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 42 0 0 42 5,057,144.63 0.00 0.00 5,057,144.63 30 Days 93 12 2 0 107 6,830,956.98 549,991.66 590,011.37 0.00 7,970,960.01 60 Days 22 12 1 0 35 1,046,125.84 1,015,670.44 174,629.13 0.00 2,236,425.41 90 Days 18 5 9 0 32 1,481,222.99 337,978.98 791,502.22 0.00 2,610,704.19 120 Days 10 11 5 0 26 524,132.22 810,611.03 458,963.38 0.00 1,793,706.63 150 Days 5 5 3 0 13 149,846.34 202,514.94 722,472.92 0.00 1,074,834.20 180+ Days 3 39 10 0 52 147,559.61 3,109,427.04 1,140,075.00 0.00 4,397,061.65 Totals 151 126 30 0 307 10,179,843.98 11,083,338.72 3,877,654.02 0.00 25,140,836.72 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 3.526448% 0.000000% 0.000000% 3.526448% 4.084234% 0.000000% 0.000000% 4.084234% 30 Days 7.808564% 1.007557% 0.167926% 0.000000% 8.984047% 5.516795% 0.444182% 0.476503% 0.000000% 6.437480% 60 Days 1.847187% 1.007557% 0.083963% 0.000000% 2.938707% 0.844869% 0.820272% 0.141033% 0.000000% 1.806174% 90 Days 1.511335% 0.419815% 0.755668% 0.000000% 2.686818% 1.196260% 0.272957% 0.639230% 0.000000% 2.108448% 120 Days 0.839631% 0.923594% 0.419815% 0.000000% 2.183039% 0.423298% 0.654663% 0.370666% 0.000000% 1.448627% 150 Days 0.419815% 0.419815% 0.251889% 0.000000% 1.091520% 0.121018% 0.163554% 0.583481% 0.000000% 0.868054% 180+ Days 0.251889% 3.274559% 0.839631% 0.000000% 4.366079% 0.119172% 2.511225% 0.920744% 0.000000% 3.551140% Totals 12.678421% 10.579345% 2.518892% 0.000000% 25.776658% 8.221412% 8.951089% 3.131658% 0.000000% 20.304159%
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 5 0 0 5 811,143.93 0.00 0.00 811,143.93 30 Days 11 0 0 0 11 1,667,014.22 0.00 0.00 0.00 1,667,014.22 60 Days 2 1 1 0 4 233,798.95 91,166.95 174,629.13 0.00 499,595.03 90 Days 3 0 4 0 7 379,104.84 0.00 397,017.55 0.00 776,122.39 120 Days 0 0 2 0 2 0.00 0.00 332,154.34 0.00 332,154.34 150 Days 1 0 1 0 2 47,448.24 0.00 524,800.00 0.00 572,248.24 180 Days 0 0 5 0 5 0.00 0.00 937,343.85 0.00 937,343.85 Totals 17 6 13 0 36 2,327,366.25 902,310.88 2,365,944.87 0.00 5,595,622.00 0-29 Days 2.083333% 0.000000% 0.000000% 2.083333% 2.058114% 0.000000% 0.000000% 2.058114% 30 Days 4.583333% 0.000000% 0.000000% 0.000000% 4.583333% 4.229711% 0.000000% 0.000000% 0.000000% 4.229711% 60 Days 0.833333% 0.416667% 0.416667% 0.000000% 1.666667% 0.593218% 0.231318% 0.443086% 0.000000% 1.267621% 90 Days 1.250000% 0.000000% 1.666667% 0.000000% 2.916667% 0.961902% 0.000000% 1.007352% 0.000000% 1.969253% 120 Days 0.000000% 0.000000% 0.833333% 0.000000% 0.833333% 0.000000% 0.000000% 0.842774% 0.000000% 0.842774% 150 Days 0.416667% 0.000000% 0.416667% 0.000000% 0.833333% 0.120390% 0.000000% 1.331574% 0.000000% 1.451964% 180 Days 0.000000% 0.000000% 2.083333% 0.000000% 2.083333% 0.000000% 0.000000% 2.378320% 0.000000% 2.378320% Totals 7.083333% 2.500000% 5.416667% 0.000000% 15.000000% 5.905221% 2.289431% 6.003106% 0.000000% 14.197758% 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 37 0 0 37 4,246,000.70 0.00 0.00 4,246,000.70 30 Days 82 12 2 0 96 5,163,942.76 549,991.66 590,011.37 0.00 6,303,945.79 60 Days 20 11 0 0 31 812,326.89 924,503.49 0.00 0.00 1,736,830.38 90 Days 15 5 5 0 25 1,102,118.15 337,978.98 394,484.67 0.00 1,834,581.80 120 Days 10 11 3 0 24 524,132.22 810,611.03 126,809.04 0.00 1,461,552.29 150 Days 4 5 2 0 11 102,398.10 202,514.94 197,672.92 0.00 502,585.96 180 Days 3 39 5 0 47 147,559.61 3,109,427.04 202,731.15 0.00 3,459,717.80 Totals 134 120 17 0 271 7,852,477.73 10,181,027.84 1,511,709.15 0.00 19,545,214.72 0-29 Days 3.890641% 0.000000% 0.000000% 3.890641% 5.030264% 0.000000% 0.000000% 5.030264% 30 Days 8.622503% 1.261830% 0.210305% 0.000000% 10.094637% 6.117756% 0.651579% 0.698990% 0.000000% 7.468324% 60 Days 2.103049% 1.156677% 0.000000% 0.000000% 3.259727% 0.962369% 1.095265% 0.000000% 0.000000% 2.057634% 90 Days 1.577287% 0.525762% 0.525762% 0.000000% 2.628812% 1.305686% 0.400406% 0.467348% 0.000000% 2.173441% 120 Days 1.051525% 1.156677% 0.315457% 0.000000% 2.523659% 0.620943% 0.960336% 0.150231% 0.000000% 1.731510% 150 Days 0.420610% 0.525762% 0.210305% 0.000000% 1.156677% 0.121312% 0.239921% 0.234184% 0.000000% 0.595417% 180 Days 0.315457% 4.100946% 0.525762% 0.000000% 4.942166% 0.174815% 3.683758% 0.240177% 0.000000% 4.098750% Totals 14.090431% 12.618297% 1.787592% 0.000000% 28.496320% 9.302880% 12.061528% 1.790931% 0.000000% 23.155339%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 177,589.75
Class M-1 21,368,679.00 14.33738478% 25,042,633.69 20.28528994% 12.376452% 0.000000% Class M-2 13,542,679.00 9.08650459% 17,216,633.69 13.94599348% 6.339296% 0.000000% Class M-3 6,461,679.00 4.33548457% 10,135,633.69 8.21016953% 5.735824% 0.000000% Class M-4 4,598,679.00 3.08549865% 8,272,633.69 6.70108324% 1.509086% 0.000000% Class CE 100.00 0.00006710% 100.00 0.00008100% 6.701002% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000081% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.063660% Weighted Average Net Coupon 7.563660% Weighted Average Pass-Through Rate 7.491160% Weighted Average Maturity(Stepdown Calculation ) 277 Beginning Scheduled Collateral Loan Count 1,215 Number Of Loans Paid In Full 24 Ending Scheduled Collateral Loan Count 1,191 Beginning Scheduled Collateral Balance 126,840,839.07 Ending Scheduled Collateral Balance 123,452,185.11 Ending Actual Collateral Balance at 29-Apr-2005 123,821,115.80 Monthly P &I Constant 1,097,207.71 Special Servicing Fee 0.00 Prepayment Penalties 19,406.12 Realized Loss Amount 3,095.95 Cumulative Realized Loss 3,095.95 Scheduled Principal 244,873.26 Unscheduled Principal 3,143,780.70 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 432,469.12 Overcollateralized reduction Amount 0.00 Specified O/C Amount 8,569,896.53 Overcollateralized Amount 8,272,533.69 Overcollateralized Deficiency Amount 297,362.84 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 435,865.07 Excess Cash Amount 0.00
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 8.063660% Weighted Average Net Rate 7.563660% Weighted Average Pass Through Rate 7.491160% Weighted Average Maturity 277 Record Date 04/29/2005 Principal and Interest Constant 1,097,207.71 Beginning Loan Count 1,215 Loans Paid in Full 24 Ending Loan Count 1,191 Beginning Scheduled Balance 126,840,839.07 Ending Scheduled Balance 123,452,185.11 Ending Actual Balance at 29-Apr-2005 123,821,115.80 Scheduled Principal 244,873.26 Unscheduled Principal 3,143,780.70 Scheduled Interest 852,334.45 Servicing Fee 52,850.35 Master Servicing Fee 5,549.29 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 2,114.02 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 791,820.79 Realized Loss Amount 3,095.95 Cumulative Realized Loss 3,095.95 Percentage of Cumulative Losses 0.0021 Special Servicing Fee 0.00 Prepayment Penalties 19,406.12 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 432,469.12 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 8,569,896.53 Overcollateralized Amount 8,272,533.69 Overcollateralized Deficiency Amount 297,362.84 Base Overcollateralization Amount 0.00
Miscellaneous Reporting Interest Arrearage Amount 15976.84
Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.275358 8.438121 8.063660 Weighted Average Net Rate 6.775358 7.938121 7.563660 Weighted Average Maturity 338 246 277 Beginning Loan Count 249 966 1,215 Loans Paid In Full 9 15 24 Ending Loan Count 240 951 1,191 Beginning Scheduled Balance 40,848,421.26 85,992,417.81 126,840,839.07 Ending scheduled Balance 39,389,468.66 84,062,716.45 123,452,185.11 Record Date 04/29/2005 04/29/2005 04/29/2005 Principal And Interest Constant 277,878.47 819,329.24 1,097,207.71 Scheduled Principal 30,222.72 214,650.54 244,873.26 Unscheduled Principal 1,428,729.88 1,715,050.82 3,143,780.70 Scheduled Interest 247,655.75 604,678.70 852,334.45 Servicing Fees 17,020.18 35,830.17 52,850.35 Master Servicing Fees 1,787.12 3,762.17 5,549.29 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 680.81 1,433.21 2,114.02 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 228,167.64 563,653.15 791,820.79 Realized Loss Amount 3,095.95 0.00 3,095.95 Cumulative Realized Loss 3,095.95 0.00 3,095.95 Percentage of Cumulative Losses 0.0063 0.0000 0.0021 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.702858 7.865621 7.491160