-----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, OkC2JtozUGjXVfaHNeHS7pVc9zWzrvb2U4+siaaN0wBCW2/SCrQiwNsk0C1wS5ww 6gGa8TSPliSfI9SG5nJNbA== 0001056404-05-003445.txt : 20051005 0001056404-05-003445.hdr.sgml : 20051005 20051005111233 ACCESSION NUMBER: 0001056404-05-003445 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050926 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051005 DATE AS OF CHANGE: 20051005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACE Securities Corp Home Equity Loan Trust, Series 2005-SN1 CENTRAL INDEX KEY: 0001321978 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-119047-08 FILM NUMBER: 051123821 BUSINESS ADDRESS: STREET 1: 6525 MORRISON BLVD STREET 2: SUITE 318 CITY: CHARLOTTE STATE: NC ZIP: 28211 BUSINESS PHONE: 7043650569 MAIL ADDRESS: STREET 1: 6525 MORRISON BLVD STREET 2: SUITE 318 CITY: CHARLOTTE STATE: NC ZIP: 28211 8-K 1 ace05sn1_10509.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): September 26, 2005 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-SN1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-119047-08 Pooling and Servicing Agreement) (Commission 54-2169419 (State or other File Number) 54-2169420 jurisdiction IRS EIN 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 September 26, 2005 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2005-SN1 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-SN1 Trust, relating to the September 26, 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-SN1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 10/4/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-SN1 Trust, relating to the September 26, 2005 distribution. EX-99.1
ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 8/31/2005 Distribution Date: 9/26/2005 ACE Securities Corporation Asset Backed Pass-Through Certificates Series ACE 2005-SN1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution A-1 004421MQ3 SEN 4.25000% 74,714,202.70 264,612.80 A-2 004421MV2 SEN 5.23000% 58,680,000.00 255,747.00 M-1 004421MR1 MEZ 5.52000% 4,543,000.00 20,897.80 M-2 004421MS9 MEZ 5.77000% 2,478,000.00 11,915.05 M-3 004421MT7 MEZ 6.00000% 1,239,000.00 6,195.00 M-4 004421MU4 MEZ 6.00000% 1,239,000.00 6,195.00 CE-1 A05SN1CE1 SEN 0.00000% 826,050.35 259,584.18 CE-2 A05SN1CE2 SEN 0.00000% 0.00 7,737.50 R ACE05SN1R SEN 0.00000% 0.00 0.00 Totals 143,719,253.05 832,884.33
Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 3,096,549.66 0.00 71,617,653.04 3,361,162.46 0.00 A-2 0.00 0.00 58,680,000.00 255,747.00 0.00 M-1 0.00 0.00 4,543,000.00 20,897.80 0.00 M-2 0.00 0.00 2,478,000.00 11,915.05 0.00 M-3 0.00 0.00 1,239,000.00 6,195.00 0.00 M-4 0.00 0.00 1,239,000.00 6,195.00 0.00 CE-1 0.00 0.00 826,050.35 259,584.18 0.00 CE-2 0.00 0.00 0.00 7,737.50 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 3,096,549.66 0.00 140,622,703.39 3,929,433.99 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 97,031,000.00 74,714,202.70 0.00 3,096,549.66 0.00 0.00 A-2 58,680,000.00 58,680,000.00 0.00 0.00 0.00 0.00 M-1 4,543,000.00 4,543,000.00 0.00 0.00 0.00 0.00 M-2 2,478,000.00 2,478,000.00 0.00 0.00 0.00 0.00 M-3 1,239,000.00 1,239,000.00 0.00 0.00 0.00 0.00 M-4 1,239,000.00 1,239,000.00 0.00 0.00 0.00 0.00 CE-1 69.19 826,050.35 0.00 0.00 0.00 0.00 CE-2 0.00 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 165,210,069.19 143,719,253.05 0.00 3,096,549.66 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 3,096,549.66 71,617,653.04 0.73809044 3,096,549.66 A-2 0.00 58,680,000.00 1.00000000 0.00 M-1 0.00 4,543,000.00 1.00000000 0.00 M-2 0.00 2,478,000.00 1.00000000 0.00 M-3 0.00 1,239,000.00 1.00000000 0.00 M-4 0.00 1,239,000.00 1.00000000 0.00 CE-1 0.00 826,050.35 11,938.86905622 0.00 CE-2 0.00 0.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 3,096,549.66 140,622,703.39 0.85117514 3,096,549.66
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 97,031,000.00 770.00342880 0.00000000 31.91299337 0.00000000 A-2 58,680,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 4,543,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 2,478,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 1,239,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 1,239,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE-1 69.19 11938869.05622200 0.00000000 0.00000000 0.00000000 CE-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R 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 31.91299337 738.09043543 0.73809044 31.91299337 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 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-1 0.00000000 0.00000000 11,938,869.05622200 11938.86905622 0.00000000 CE-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 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 97,031,000.00 4.25000% 74,714,202.70 264,612.80 0.00 0.00 A-2 58,680,000.00 5.23000% 58,680,000.00 255,747.00 0.00 0.00 M-1 4,543,000.00 5.52000% 4,543,000.00 20,897.80 0.00 0.00 M-2 2,478,000.00 5.77000% 2,478,000.00 11,915.05 0.00 0.00 M-3 1,239,000.00 6.00000% 1,239,000.00 6,195.00 0.00 0.00 M-4 1,239,000.00 6.00000% 1,239,000.00 6,195.00 0.00 0.00 CE-1 69.19 0.00000% 826,050.35 0.00 0.00 0.00 CE-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 165,210,069.19 565,562.65 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 0.00 264,612.80 0.00 71,617,653.04 A-2 0.00 0.00 255,747.00 0.00 58,680,000.00 M-1 0.00 0.00 20,897.80 0.00 4,543,000.00 M-2 0.00 0.00 11,915.05 0.00 2,478,000.00 M-3 0.00 0.00 6,195.00 0.00 1,239,000.00 M-4 0.00 0.00 6,195.00 0.00 1,239,000.00 CE-1 0.00 0.00 259,584.18 0.00 826,050.35 CE-2 0.00 0.00 7,737.50 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 832,884.33 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 97,031,000.00 4.25000% 770.00342880 2.72709546 0.00000000 0.00000000 A-2 58,680,000.00 5.23000% 1000.00000000 4.35833333 0.00000000 0.00000000 M-1 4,543,000.00 5.52000% 1000.00000000 4.60000000 0.00000000 0.00000000 M-2 2,478,000.00 5.77000% 1000.00000000 4.80833333 0.00000000 0.00000000 M-3 1,239,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 M-4 1,239,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 CE-1 69.19 0.00000% 11938869.05622200 0.00000000 0.00000000 0.00000000 CE-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R 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 2.72709546 0.00000000 738.09043543 A-2 0.00000000 0.00000000 4.35833333 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 4.60000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 4.80833333 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000 CE-1 0.00000000 0.00000000 3751758.63564099 0.00000000 11938869.05622200 CE-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 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 3,988,519.29 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 73,546.91 Realized Loss (Gains, Subsequent Expenses & Recoveries) 311.94 Prepayment Penalties 0.00 Total Deposits 4,062,378.14 Withdrawals Reimbursement for Servicer Advances 71,545.77 Payment of Service Fee 61,398.38 Payment of Interest and Principal 3,929,433.99 Total Withdrawals (Pool Distribution Amount) 4,062,378.14 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 48,822.95 Credit Risk Manager Fee- Risk Management Group, LLC 2,994.15 Master Servicing Fee 9,581.28 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 61,398.38
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 1,000.00 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT 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 8 0 0 8 417,482.90 0.00 0.00 417,482.90 30 Days 77 5 0 0 82 5,065,569.91 222,440.37 0.00 0.00 5,288,010.28 60 Days 27 1 0 0 28 1,638,052.41 45,232.15 0.00 0.00 1,683,284.56 90 Days 6 1 2 0 9 246,925.34 35,659.78 192,903.05 0.00 475,488.17 120 Days 8 3 1 0 12 519,325.95 92,317.89 75,933.07 0.00 687,576.91 150 Days 3 0 1 0 4 98,420.68 0.00 33,060.64 0.00 131,481.32 180+ Days 3 0 3 0 6 64,233.23 0.00 245,581.07 0.00 309,814.30 Totals 124 18 7 0 149 7,632,527.52 813,133.09 547,477.83 0.00 8,993,138.44 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 0.505051% 0.000000% 0.000000% 0.505051% 0.296475% 0.000000% 0.000000% 0.296475% 30 Days 4.861111% 0.315657% 0.000000% 0.000000% 5.176768% 3.597305% 0.157966% 0.000000% 0.000000% 3.755271% 60 Days 1.704545% 0.063131% 0.000000% 0.000000% 1.767677% 1.163260% 0.032122% 0.000000% 0.000000% 1.195382% 90 Days 0.378788% 0.063131% 0.126263% 0.000000% 0.568182% 0.175354% 0.025324% 0.136990% 0.000000% 0.337667% 120 Days 0.505051% 0.189394% 0.063131% 0.000000% 0.757576% 0.368798% 0.065559% 0.053924% 0.000000% 0.488282% 150 Days 0.189394% 0.000000% 0.063131% 0.000000% 0.252525% 0.069893% 0.000000% 0.023478% 0.000000% 0.093371% 180+ Days 0.189394% 0.000000% 0.189394% 0.000000% 0.378788% 0.045615% 0.000000% 0.174399% 0.000000% 0.220014% Totals 7.828283% 1.136364% 0.441919% 0.000000% 9.406566% 5.420226% 0.577445% 0.388790% 0.000000% 6.386461%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 73,546.91
REO Detail - All Mortgage Loans in REO during Current Period
Summary 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Oct-04 0.000% Original Principal Balance 0.00 Nov-04 0.000% Current Principal Balance 0.00 Dec-04 0.000% Jan-05 0.000% Current REO Total Feb-05 0.000% Loans in REO 0 Mar-05 0.000% Original Principal Balance 0.00 Apr-05 0.000% Current Principal Balance 0.00 May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% Sep-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.
REO Loan Detail - All Mortgage Loans in REO during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance No REO loans this period.
REO Loan Detail - All Mortgage Loans in REO during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No REO loans this period.
Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period
Summary 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 4 Oct-04 0.000% Original Principal Balance 318,051.00 Nov-04 0.000% Current Principal Balance 301,896.76 Dec-04 0.000% Jan-05 0.000% Current Foreclosure Total Feb-05 0.000% Loans in Foreclosure 7 Mar-05 0.000% Original Principal Balance 569,665.00 Apr-05 0.000% Current Principal Balance 547,477.83 May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.316% Sep-05 0.389% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance Summary 0000367881 Sep-2005 18-Nov-2000 OH 90.68 129,678.00 Summary 0000367997 Sep-2005 01-Jul-2000 IN 79.82 66,248.00 Summary 0000368252 Aug-2005 15-Jun-1998 IN 86.61 118,650.00 Summary 0000368461 Aug-2005 13-May-1999 PA 96.08 61,012.00 Summary 0000368666 Sep-2005 01-Nov-1999 KY 90.90 78,171.00 Summary 0000369035 Sep-2005 05-Aug-1999 OH 95.55 43,954.00 Summary 0000369422 Jul-2005 05-Jan-1999 OH 89.94 71,952.00
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest Summary 0000367881 127,916.28 18-Apr-2005 3 10.610% 5,466.80 Summary 0000367997 64,986.77 01-Apr-2005 3 12.250% 3,221.45 Summary 0000368252 113,778.47 15-Dec-2004 7 10.000% 6,399.69 Summary 0000368461 55,047.39 13-Jan-2005 6 11.500% 3,578.30 Summary 0000368666 75,933.07 01-Mar-2005 4 11.000% 4,042.93 Summary 0000369035 33,060.64 05-Feb-2005 5 12.000% 2,246.16 Summary 0000369422 76,755.21 05-Dec-2004 7 7.500% 2,732.75
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.442787% Weighted Average Net Coupon 7.035134% Weighted Average Pass-Through Rate 6.930134% Weighted Average Maturity(Stepdown Calculation) 261 Beginning Scheduled Collateral Loan Count 1,622 Number Of Loans Paid In Full 38 Ending Scheduled Collateral Loan Count 1,584 Beginning Scheduled Collateral Balance 143,719,253.05 Ending Scheduled Collateral Balance 140,622,703.39 Ending Actual Collateral Balance at 31-Aug-2005 140,815,673.39 Monthly P&I Constant 1,218,727.66 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount (311.94) Cumulative Realized Loss 5,707.36 Scheduled Principal 327,334.49 Unscheduled Principal 2,769,215.17 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 311.94 Specified O/C Amount 826,050.35 Overcollateralized Amount 826,050.35 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 7.442787% Weighted Average Net Rate 7.035134% Weighted Average Pass Through Rate 6.930134% Weighted Average Maturity 261 Record Date 08/31/2005 Principal and Interest Constant 1,218,727.66 Beginning Loan Count 1,622 Loans Paid in Full 38 Ending Loan Count 1,584 Beginning Scheduled Balance 143,719,253.05 Ending Scheduled Balance 140,622,703.39 Ending Actual Balance at 31-Aug-2005 140,815,673.39 Scheduled Principal 327,334.49 Unscheduled Principal 2,769,215.17 Scheduled Interest 891,393.17 Servicing Fee 48,822.95 Master Servicing Fee 9,581.28 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 2,994.15 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 829,994.79 Realized Loss Amount (311.94) Cumulative Realized Loss 5,707.36 Percentage of Cumulative Losses 0.0035 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 311.94 Specified O/C Amount 826,050.35 Overcollateralized Amount 826,050.35 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00
Miscellaneous Reporting Overcollateralization Amount 826,050.35 Overcollateralization Increase Amount 0.00 Overcollateralization Reduction Amount 311.94 Overcollateralization Target Amount 826,050.35 Ocwen 0.00 Ocwen Servicing Fee 0.00 Specified Overcollateralization Amount 826,050.35 Ocwen Service Fee Strip 7737.50
Prepayment Detail - Prepayments during Current Period Summary Loans Paid In Full Repurchased Loans Original Current Original Current Principal Principal Principal Principal Group Count Balance Balance Count Balance Balance Total 38 3,293,398.00 2,727,404.18 0 0.00 0.00
Prepayment Detail - Prepayments during Current Period (continued) Summary Substitution Loans Liquidated Loans Curtailments Original Current Original Current Principal Principal Principal Principal Curtailment Group Count Balance Balance Count Balance Balance Amount Total 0 0.00 0.00 0 0.00 0.00 49,319.17
Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Summary 0000260723 NJ 80.00 01-Jul-1990 168,000.00 124,912.88 Summary 0000260736 NJ 75.00 01-Jul-1989 131,250.00 94,070.84 Summary 0000367725 OH 45.27 04-Feb-2001 41,651.00 4,168.69 Summary 0000367814 FL 91.76 30-Nov-2000 78,000.00 75,559.26 Summary 0000367893 IN 95.77 15-Nov-2000 59,377.00 49,192.38 Summary 0000367900 FL 72.03 06-Nov-2000 46,817.00 43,804.47 Summary 0000367978 OH 85.68 05-Oct-2000 124,235.00 119,445.36 Summary 0000367981 OH 95.63 05-Oct-2000 65,987.00 65,033.73 Summary 0000368036 OH 100.00 06-Jul-2000 20,618.00 17,578.19 Summary 0000368057 PA 61.08 05-Jun-2000 36,039.00 31,193.36 Summary 0000368177 MI 95.70 05-Oct-1999 57,418.00 44,432.43 Summary 0000368296 IN 85.95 08-Sep-1997 103,138.00 69,466.44 Summary 0000368448 PA 67.40 02-Nov-1999 21,569.00 12,966.58 Summary 0000368527 KY 100.00 10-Feb-2000 6,814.00 4,221.12 Summary 0000368588 KY 85.14 05-Apr-1999 46,826.00 33,544.35 Summary 0000368604 KY 42.61 05-Mar-1998 21,303.00 5,917.64 Summary 0000368733 KS 100.00 05-May-1999 32,860.00 25,304.46 Summary 0000368763 VA 100.00 06-May-1999 38,667.00 28,403.44 Summary 0000368837 MI 70.33 15-Jun-1998 73,842.00 70,426.21 Summary 0000368944 OH 32.10 10-Sep-1998 29,209.00 19,948.40 Summary 0000369007 OH 100.00 05-Feb-1999 19,284.00 14,921.16 Summary 0000369033 OH 100.00 15-Sep-1999 35,942.00 28,342.24 Summary 0000369311 OH 100.00 20-Aug-1998 22,954.00 14,459.08 Summary 0000369320 OH 88.08 08-Feb-1997 63,419.00 52,472.99 Summary 0000369331 OH 54.12 03-Oct-1999 40,587.00 32,882.52 Summary 0000369334 OH 100.00 09-Sep-1999 21,553.00 17,699.63 Summary 0000369451 OH 100.00 20-May-2000 29,572.00 17,769.27 Summary 0000369620 NC 100.00 10-Apr-2000 15,396.00 12,539.43 Summary 0000369675 KY 93.15 01-Jan-2001 76,845.00 74,184.45 Summary 0000369918 OH 90.40 01-Oct-1998 91,302.00 77,124.89 Summary 0000416948 NJ 95.00 01-Aug-2003 294,500.00 283,596.31 Summary 0000416954 CT 89.80 01-Oct-2004 229,000.00 226,464.64 Summary 0000416990 CA 93.55 01-Mar-2004 147,816.00 145,108.32 Summary 0000417002 NJ 89.90 01-Nov-2003 165,416.00 111,270.37 Summary 0000417282 TX 98.42 01-Jun-2002 94,192.00 89,078.21 Summary 0000417457 OR 72.16 01-Dec-1998 350,000.00 321,121.12 Summary 0000417469 FL 61.54 01-Jan-1999 336,000.00 223,822.19 Summary 0000417504 MD 70.00 01-Aug-1998 56,000.00 37,448.95
Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning Summary 0000260723 Loan Paid in Full 1 10.375% 360 182 Summary 0000260736 Loan Paid in Full 0 5.625% 360 194 Summary 0000367725 Loan Paid in Full 0 10.250% 60 55 Summary 0000367814 Loan Paid in Full 3 10.750% 360 57 Summary 0000367893 Loan Paid in Full 0 10.250% 180 58 Summary 0000367900 Loan Paid in Full 0 12.750% 240 58 Summary 0000367978 Loan Paid in Full 0 12.990% 360 59 Summary 0000367981 Loan Paid in Full 0 10.500% 360 59 Summary 0000368036 Loan Paid in Full 0 13.740% 180 62 Summary 0000368057 Loan Paid in Full 1 12.000% 180 63 Summary 0000368177 Loan Paid in Full 0 7.375% 180 71 Summary 0000368296 Loan Paid in Full 0 10.990% 180 96 Summary 0000368448 Loan Paid in Full 0 12.250% 120 70 Summary 0000368527 Loan Paid in Full 0 15.500% 120 67 Summary 0000368588 Loan Paid in Full (1) 8.500% 180 77 Summary 0000368604 Loan Paid in Full (3) 8.500% 120 90 Summary 0000368733 Loan Paid in Full 0 11.500% 180 76 Summary 0000368763 Loan Paid in Full 0 7.625% 180 76 Summary 0000368837 Loan Paid in Full 0 8.000% 360 87 Summary 0000368944 Loan Paid in Full 0 10.000% 180 84 Summary 0000369007 Loan Paid in Full 0 12.750% 180 79 Summary 0000369033 Loan Paid in Full 0 6.000% 182 72 Summary 0000369311 Loan Paid in Full (1) 12.750% 180 84 Summary 0000369320 Loan Paid in Full 1 10.990% 240 103 Summary 0000369331 Loan Paid in Full 0 12.740% 180 71 Summary 0000369334 Loan Paid in Full 0 11.740% 180 72 Summary 0000369451 Loan Paid in Full 0 12.000% 120 63 Summary 0000369620 Loan Paid in Full 0 11.990% 180 65 Summary 0000369675 Loan Paid in Full (1) 7.875% 360 56 Summary 0000369918 Loan Paid in Full 0 9.150% 240 83 Summary 0000416948 Loan Paid in Full (1) 4.875% 360 25 Summary 0000416954 Loan Paid in Full 0 6.550% 360 11 Summary 0000416990 Loan Paid in Full 0 6.425% 360 18 Summary 0000417002 Loan Paid in Full (1) 7.125% 360 22 Summary 0000417282 Loan Paid in Full 0 7.500% 360 39 Summary 0000417457 Loan Paid in Full 0 7.250% 360 81 Summary 0000417469 Loan Paid in Full 0 6.500% 180 80 Summary 0000417504 Loan Paid in Full 0 8.625% 180 85
Prepayment - Voluntary Prepayments
Summary SMM CPR PSA Current Month 1.931% Current Month 20.865% Current Month 347.748% 3 Month Average 2.351% 3 Month Average 24.784% 3 Month Average 413.074% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 25.822% N/A Apr-2005 430.359% N/A May-2005 25.376% N/A May-2005 422.931% N/A Jun-2005 27.724% N/A Jun-2005 462.065% N/A Jul-2005 25.515% N/A Jul-2005 425.250% N/A Aug-2005 27.973% N/A Aug-2005 466.224% N/A Sep-2005 20.865% N/A Sep-2005 347.748% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled Principal) Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12) PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS)) Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal Balance))
Realized Loss Detail Report - Loans with Losses during Current Period Summary # Loans Prior Realized Current with Principal Loss/(Gain) Loss Group Losses Balance Amount Percentage Total 2 0.00 (311.94) 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period Original Current Loan Principal Note LTV at Original Group Number Balance Rate State Origination Term Summary 0000260629 261,000.00 7.2500% FL 90.00 360 Summary 0000260652 293,700.00 7.0000% MD 89.00 360
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued) Prior Cumulative Loan Principal Realized Realized Group Number Balance Loss/(Gain) Loss/(Gain) Summary 0000260629 0.00 (135.72) (135.72) Summary 0000260652 0.00 (176.22) (176.22)
Realized Loss Report - Collateral Summary
MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.018% 3 Month Average 0.363% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.029% N/A May-2005 0.585% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.055% N/A Aug-2005 1.089% N/A Sep-2005 0.000% N/A Sep-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.218% 3 Month Average 1.595% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 0.000% N/A Apr-2005 0.000% N/A May-2005 0.351% N/A May-2005 4.571% N/A Jun-2005 0.000% N/A Jun-2005 0.000% N/A Jul-2005 0.000% N/A Jul-2005 0.000% N/A Aug-2005 0.653% N/A Aug-2005 4.785% N/A Sep-2005 0.000% N/A Sep-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Monthly Default Rate (MDR): sum(Beg Principal Balance of Liquidated Loans)/ sum(Beg Principal Balance). Conditional Default Rate (CDR): 1-((1-MDR)^12) SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR/(WAS*0.02) else if WAS is greater than 30 and less than or equal to 60 then CDR/0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR/(0.6 - ((WAS-60)*0.0095)) else if WAS is greater than 120 then CDR/0.03 Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
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