-----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, Jx6COJOBOEUb+JoNDzCuO7EHiMfBPcfMtxx+LnNI/WDG23Bpd79ru3gMPlYuYhlL Q34JmQ4rOnN+A996oC5T1g== 0000950149-05-000587.txt : 20050906 0000950149-05-000587.hdr.sgml : 20050905 20050906164417 ACCESSION NUMBER: 0000950149-05-000587 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050822 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050906 DATE AS OF CHANGE: 20050906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Sequoia Mortgage Trust 2005-1 CENTRAL INDEX KEY: 0001315787 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-118832-06 FILM NUMBER: 051070770 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 f12318be8vk.txt 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 August 22, 2005 Date of Report (Date of Earliest Event Reported) SEQUOIA RESIDENTIAL FUNDING, INC. SEQUOIA MORTGAGE TRUST 2005-1 (as Depositor of Sequoia Mortgage Trust 2005-1, the Issuer of Mortgage Pass- Through Certificates under a Pooling and Servicing Agreement dated as of January 1, 2005) SEQUOIA RESIDENTIAL FUNDING, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 333-118832-06 35-2170972 (State or Other Jurisdiction (Commission File Number) (I.R.S. Employer of Incorporation) 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): [ ] 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 2005-1 (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, August 22, 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: September 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, August 22, 2005................................. 5
EX-10.1 2 f12318bexv10w1.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 2005-1 RECORD DATE: JULY 29, 2005 DISTRIBUTION DATE: AUGUST 22, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution - ------ --------- ----------- ------------ -------------- ------------ A-1 81744FGM# SEN 3.66000% 252,872,767.46 771,261.94 A-2 81744FGN1 SEN 4.10000% 86,736,811.92 296,350.77 X-A 81744FGP6 IO 0.72176% 0.00 204,264.97 X-B 81744FGS0 IO 0.44253% 0.00 4,594.04 B-1 81744FGQ4 SUB 3.85000% 7,067,000.00 22,673.29 B-2 81744FGR2 SUB 4.13000% 3,949,000.00 13,591.14 B-3 81744FGU5 SUB 4.68000% 2,495,000.00 9,730.50 B-4 81744FGV3 SUB 4.49314% 1,455,000.00 5,447.93 B-5 81744FGW1 SUB 4.49314% 831,000.00 3,111.50 B-6 81744FGX9 SUB 4.49314% 1,871,544.03 7,007.59 A-R 81744FGT8 RES 3.95895% 0.00 0.47 -------------- ------------ Totals 357,278,123.41 1,338,034.14 ============== ============ Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Loss - ------ ------------- -------- -------------- ------------- ---------- A-1 15,691,841.70 0.00 237,180,925.76 16,463,103.64 0.00 A-2 5,743,478.08 0.00 80,993,333.84 6,039,828.85 0.00 X-A 0.00 0.00 0.00 204,264.97 0.00 X-B 0.00 0.00 0.00 4,594.04 0.00 B-1 0.00 0.00 7,067,000.00 22,673.29 0.00 B-2 0.00 0.00 3,949,000.00 13,591.14 0.00 B-3 0.00 0.00 2,495,000.00 9,730.50 0.00 B-4 0.00 0.00 1,455,000.00 5,447.93 0.00 B-5 0.00 0.00 831,000.00 3,111.50 0.00 B-6 0.00 0.00 1,871,544.03 7,007.59 0.00 A-R 0.00 0.00 0.00 0.47 0.00 ------------- ---- -------------- ------------- ---- Totals 21,435,319.78 0.00 335,842,803.63 22,773,353.92 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 Certificate Principal Principal Realized Class Face Amount Balance Distribution Distribution Accretion Loss (1) - ------ -------------- -------------- ------------ ------------- --------- -------- A-1 298,055,000.00 252,872,767.46 0.00 15,691,841.70 0.00 0.00 A-2 100,000,000.00 86,736,811.92 0.00 5,743,478.08 0.00 0.00 X-A 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 B-1 7,067,000.00 7,067,000.00 0.00 0.00 0.00 0.00 B-2 3,949,000.00 3,949,000.00 0.00 0.00 0.00 0.00 B-3 2,495,000.00 2,495,000.00 0.00 0.00 0.00 0.00 B-4 1,455,000.00 1,455,000.00 0.00 0.00 0.00 0.00 B-5 831,000.00 831,000.00 0.00 0.00 0.00 0.00 B-6 1,871,544.03 1,871,544.03 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- Totals 415,723,644.03 357,278,123.41 0.00 21,435,319.78 0.00 0.00 ============== ============== ==== ============= ==== ==== Ending Ending Total Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution - ------ --------------- -------------- ----------- ------------- A-1 15,691,841.70 237,180,925.76 0.79576228 15,691,841.70 A-2 5,743,478.08 80,993,333.84 0.80993334 5,743,478.08 X-A 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 B-1 0.00 7,067,000.00 1.00000000 0.00 B-2 0.00 3,949,000.00 1.00000000 0.00 B-3 0.00 2,495,000.00 1.00000000 0.00 B-4 0.00 1,455,000.00 1.00000000 0.00 B-5 0.00 831,000.00 1.00000000 0.00 B-6 0.00 1,871,544.03 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 ------------- -------------- ---------- ------------- Totals 21,435,319.78 335,842,803.63 0.80785110 21,435,319.78 ============= ============== ========== =============
(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 Class Amount Balance Distribution Distribution Accretion Loss (3) - ----- -------------- ------------- ------------ ------------ ---------- ---------- A-1 298,055,000.00 848.40974807 0.00000000 52.64747010 0.00000000 0.00000000 A-2 100,000,000.00 867.36811920 0.00000000 57.43478080 0.00000000 0.00000000 X-A 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 7,067,000.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 3,949,000.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 2,495,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,455,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 831,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 1,871,544.03 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Ending Total Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ----- --------------- ------------- ----------- --------------- A-1 52.64747010 795.76227797 0.79576228 52.64747010 A-2 57.43478080 809.93333840 0.80993334 57.43478080 X-A 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
Beginning Payment of Non- Certificate/ Current Unpaid Current Supported Original Face Current Notional Accrued Interest Interest Interest Realized Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------ -------------- ---------------- -------------- ------------ ---------- --------- --------- -------- A-1 298,055,000.00 3.66000% 252,872,767.46 771,261.94 0.00 0.00 0.00 0.00 A-2 100,000,000.00 4.10000% 86,736,811.92 296,350.77 0.00 0.00 0.00 0.00 X-A 0.00 0.72176% 339,609,579.38 204,264.97 0.00 0.00 0.00 0.00 X-B 0.00 0.44253% 13,511,000.00 4,982.56 0.00 0.00 0.00 0.00 B-1 7,067,000.00 3.85000% 7,067,000.00 22,673.29 0.00 0.00 0.00 0.00 B-2 3,949,000.00 4.13000% 3,949,000.00 13,591.14 0.00 0.00 0.00 0.00 B-3 2,495,000.00 4.68000% 2,495,000.00 9,730.50 0.00 0.00 0.00 0.00 B-4 1,455,000.00 4.49314% 1,455,000.00 5,447.93 0.00 0.00 0.00 0.00 B-5 831,000.00 4.49314% 831,000.00 3,111.50 0.00 0.00 0.00 0.00 B-6 1,871,544.03 4.49314% 1,871,544.03 7,007.59 0.00 0.00 0.00 0.00 A-R 100.00 3.95985% 0.00 0.00 0.00 0.00 0.00 0.00 -------------- ------------ ---- ---- ---- ---- Totals 415,723,644.03 1,338,422.19 0.00 0.00 0.00 0.00 ============== ============ ==== ==== ==== ==== Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------ -------------- --------- -------------- A-1 771,261.94 0.00 237,180,925.76 A-2 296,350.77 0.00 80,993,333.84 X-A 204,264.97 0.00 318,174,259.60 X-B 4,594.04 0.00 13,511,000.00 B-1 22,673.29 0.00 7,067,000.00 B-2 13,591.14 0.00 3,949,000.00 B-3 9,730.50 0.00 2,495,000.00 B-4 5,447.93 0.00 1,455,000.00 B-5 3,111.50 0.00 831,000.00 B-6 7,007.59 0.00 1,871,544.03 A-R 0.47 0.00 0.00 ------------ ---- Totals 1,338,034.14 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 Non- Current Beginning Unpaid Current Supported Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - --------- -------------- ----------- ---------------- --------------- ---------- ---------- ---------- ---------- A-1 298,055,000.00 3.66000% 848.40974807 2.58764973 0.00000000 0.00000000 0.00000000 0.00000000 A-2 100,000,000.00 4.10000% 867.36811920 2.96350770 0.00000000 0.00000000 0.00000000 0.00000000 X-A 0.00 0.72176% 853.17249973 0.51315765 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.44253% 1000.00000000 0.36877803 0.00000000 0.00000000 0.00000000 0.00000000 B-1 7,067,000.00 3.85000% 1000.00000000 3.20833310 0.00000000 0.00000000 0.00000000 0.00000000 B-2 3,949,000.00 4.13000% 1000.00000000 3.44166624 0.00000000 0.00000000 0.00000000 0.00000000 B-3 2,495,000.00 4.68000% 1000.00000000 3.90000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,455,000.00 4.49314% 1000.00000000 3.74428179 0.00000000 0.00000000 0.00000000 0.00000000 B-5 831,000.00 4.49314% 1000.00000000 3.74428400 0.00000000 0.00000000 0.00000000 0.00000000 B-6 1,871,544.03 4.49314% 1000.00000000 3.74428274 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.95985% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class (5) Distribution Shortfall Balance - --------- -------------- ---------- ------------- A-1 2.58764973 0.00000000 795.76227797 A-2 2.96350770 0.00000000 809.93333840 X-A 0.51315765 0.00000000 799.32235395 X-B 0.34002220 0.00000000 1000.00000000 B-1 3.20833310 0.00000000 1000.00000000 B-2 3.44166624 0.00000000 1000.00000000 B-3 3.90000000 0.00000000 1000.00000000 B-4 3.74428179 0.00000000 1000.00000000 B-5 3.74428400 0.00000000 1000.00000000 B-6 3.74428274 0.00000000 1000.00000000 A-R 4.70000000 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 22,888,125.71 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 22,882.68 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 22,911,008.39 Withdrawals Reimbursement for Servicer Advances 22,215.06 Payment of Service Fee 115,439.42 Payment of Interest and Principal 22,773,353.91 ------------- Total Withdrawals (Pool Distribution Amount) 22,911,008.39 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 111,717.77 Master Servicing Fee 3,721.65 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 115,439.42 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ----------------------- --------- ----------- -------- -------- X-A Pool 1 Reserve Fund 4,500.00 0.00 0.00 4,500.00 X-A Pool 2 Reserve Fund 4,500.00 0.00 0.00 4,500.00 X-B Reserve Fund 1,000.00 388.52 388.52 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------- ------------------------------ ------------------------------ No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance ------ ------------ ------ --------- ------ --------- 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 15 5,149,194.58 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 797,100.99 60 Days 0 0.00 60 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 0.00 150 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 --- ------------ --- ---- --- ---- 16 5,946,295.57 0 0.00 0 0.00 REO TOTAL - ------------------------------ --------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance ------ --------- ------ ------------ 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 15 5,149,194.58 60 Days 0 0.00 60 Days 1 797,100.99 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 --- ---- --- ------------ 0 0.00 16 5,946,295.57
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- -------------------------------- -------------------------------- No. of Principal No. of Principal No. of Principal 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% 30 Days 1.473477% 1.533212% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.098232% 0.237343% 60 Days 0.000000% 0.000000% 60 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% 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% -------- -------- -------- -------- -------- -------- 1.571709% 1.770555% 0.000000% 0.000000% 0.000000% 0.000000% REO TOTAL - -------------------------------- -------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance -------- --------- -------- --------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 1.473477% 1.533212% 60 Days 0.000000% 0.000000% 60 Days 0.098232% 0.237343% 90 Days 0.000000% 0.000000% 90 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% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.000000% 0.000000% 1.571709% 1.770555%
Current Period Class Principal Balance of Periodic A Insufficient Funds: 0.00 Contaminated Properties 0.00 Advance 22,882.68
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ---------- --------------- ------------ Class A 17,668,544.03 4.25006956% 17,668,544.03 5.26095657% 94.739043% 0.000000% Class B-1 10,601,544.03 2.55014219% 10,601,544.03 3.15669829% 2.104258% 39.997636% Class B-2 6,652,544.03 1.60023230% 6,652,544.03 1.98085055% 1.175848% 22.350455% Class B-3 4,157,544.03 1.00007399% 4,157,544.03 1.23794346% 0.742907% 14.121141% Class B-4 2,702,544.03 0.65008187% 2,702,544.03 0.80470506% 0.433238% 8.234974% Class B-5 1,871,544.03 0.45018946% 1,871,544.03 0.55726787% 0.247437% 4.703274% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.557268% 10.592520%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP
DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------- ------------------------------ ------------------------------ GROUP ONE No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance ------ ------------ ------ --------- ------ --------- 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 10 3,582,259.03 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 797,100.99 60 Days 0 0.00 60 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 0.00 150 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 --- ------------ --- ---- --- ---- 11 4,379,360.02 0 0.00 0 0.00 REO TOTAL - ------------------------------ --------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance ------ --------- ------ ------------ 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 10 3,582,259.03 60 Days 0 0.00 60 Days 1 797,100.99 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 --- ---- --- ------------ 0 0.00 11 4,379,360.02
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- -------------------------------- -------------------------------- No. of Principal No. of Principal No. of Principal 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% 30 Days 1.322751% 1.430550% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.132275% 0.318317% 60 Days 0.000000% 0.000000% 60 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% 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% -------- -------- -------- -------- -------- -------- 1.455026% 1.748866% 0.000000% 0.000000% 0.000000% 0.000000% REO TOTAL - -------------------------------- -------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance -------- --------- -------- --------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 1.322751% 1.430550% 60 Days 0.000000% 0.000000% 60 Days 0.132275% 0.318317% 90 Days 0.000000% 0.000000% 90 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% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.000000% 0.000000% 1.455026% 1.748866%
DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------- ------------------------------ ------------------------------ GROUP TWO 1.183654% ------------------------------ No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance ------ ------------ ------ --------- ------ --------- 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 5 1,566,935.55 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 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 0.00 150 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 --- ------------ --- ---- --- ---- 5 1,566,935.55 0 0.00 0 0.00 REO TOTAL - ------------------------------ --------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance ------ --------- ------ ------------ 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 0 0.00 30 Days 5 1,566,935.55 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 --- ---- --- ------------ 0 0.00 5 1,566,935.55
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- -------------------------------- -------------------------------- No. of Principal No. of Principal No. of Principal 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% 30 Days 1.908397% 1.834128% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 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% 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% -------- -------- -------- -------- -------- -------- 1.908397% 1.834128% 0.000000% 0.000000% 0.000000% 0.000000% REO TOTAL - -------------------------------- -------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance -------- --------- -------- --------- 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 1.908397% 1.834128% 60 Days 0.000000% 0.000000% 60 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% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.000000% 0.000000% 1.908397% 1.834128%
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.881822% Weighted Average Net Coupon 4.506592% Weighted Average Pass-Through Rate 4.494092% Weighted Average Maturity (Stepdown Calculation) 329 Beginning Scheduled Collateral Loan Count 1,072 Number of Loans Paid in Full 54 Ending Scheduled Collateral Loan Count 1,018 Beginning Scheduled Collateral Balance 357,278,123.41 Ending Scheduled Collateral Balance 335,842,803.63 Ending Actual Collateral Balance at 29-July-2005 335,843,577.71 Monthly P&I Constant 1,453,473.37 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 22,706,808.94 Scheduled Principal 0.00 Unscheduled Principal 21,435,319.78
MISCELLANEOUS REPORTING Pro Rata Senior Percent 95.054681%
GROUP POOL ONE POOL TWO TOTAL - ------------------------------- -------------- ----------------- -------------- Collateral Description Mixed ARM 6 Month LIBOR ARM Mixed ARM Weighted Average Coupon Rate 4.820412 5.061049 4.881822 Weighted Average Net Rate 4.445260 4.685594 4.506592 Pass-Through Rate 4.432760 4.673094 4.494092 Weighted Average Maturity 328 333 329 Record Date 07/29/2005 07/29/2005 07/29/2005 Principal and Interest Constant 1,068,936.73 384,536.64 1,453,473.37 Beginning Loan Count 796 276 1,072 Loans Paid in Full 40 14 54 Ending Loan Count 756 262 1,018 Beginning Scheduled Balance 266,102,573.44 91,175,549.97 357,278,123.41 Ending Scheduled Balance 250,410,731.74 85,432,071.89 335,842,803.63 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 15,691,841.70 5,743,478.08 21,435,319.78 Scheduled Interest 1,068,936.73 384,536.64 1,453,473.37 Servicing Fee 83,190.80 28,526.97 111,717.77 Master Servicing Fee 2,771.90 949.75 3,721.65 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 982,974.03 355,059.92 1,338,033.95 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 Pool One One Month Libor Loan Balance 134,847,605.87 Six Month Libor Loan Balance 115,563,125.87 Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Principal Transfer Amount 0.00 Interest Transfer Amount 0.00 Group Pool Two Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Principal Transfer Amount 0.00 Interest Transfer Amount 0.00
-----END PRIVACY-ENHANCED MESSAGE-----