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)

EX-10.1 2 f15809eexv10w1.htm EXHIBIT 10.1 exv10w1

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) ###-###-####
		Fax: (301) ###-###-####

SMT SERIES 2004-12
Record Date: November 30, 2005
Distribution Date: December 20, 2005

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		4.42938	%		255,697,877.01		943,819.22		20,036,200.73		0.00		235,661,676.28		20,980,019.95		0.00
A-2	81744FFZ5	SEN		3.93000	%		132,588,658.26		434,227.86		6,612,770.85		0.00		125,975,887.41		7,046,998.71		0.00
A-3	81744FGZ9	SEN		3.96000	%		120,409,214.10		397,350.41		9,519,509.88		0.00		110,889,704.22		9,916,860.29		0.00
X-A1	81744FGC5	IO		0.86199	%		0.00		278,915.34		0.00		0.00		0.00		278,915.34		0.00
X-A2	81744FGD3	IO		0.91946	%		0.00		92,259.21		0.00		0.00		0.00		92,259.21		0.00
X-B	81744FGF8	IO		0.25341	%		0.00		3,004.70		0.00		0.00		0.00		3,004.70		0.00
B-1	81744FGG6	SUB		4.65938	%		8,588,000.00		33,345.63		0.00		0.00		8,588,000.00		33,345.63		0.00
B-2	81744FGH4	SUB		5.00938	%		6,134,000.00		25,606.28		0.00		0.00		6,134,000.00		25,606.28		0.00
B-3	81744FGJ0	SUB		5.40938	%		3,680,000.00		16,588.77		0.00		0.00		3,680,000.00		16,588.77		0.00
B-4	81744FGK7	SUB		5.12197	%		2,453,000.00		10,470.16		0.00		0.00		2,453,000.00		10,470.16		0.00
B-5	81744FGK7	SUB		5.12197	%		920,000.00		3,926.84		0.00		0.00		920,000.00		3,926.84		0.00
B-6	81744FGL5	SUB		5.12197	%		2,762,778.00		11,792.38		0.00		0.00		2,762,778.00		11,792.38		0.00
A-R	81744FGE1	RES		4.92959	%		0.00		0.19		0.00		0.00		0.00		0.19		0.00

Totals							533,233,527.37		2,251,306.99		36,168,481.46		0.00		497,065,045.91		38,419,788.45		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		255,697,877.01		1,441.90		20,034,758.83		0.00		0.00		20,036,200.73		235,661,676.28		0.619331		20,036,200.73
A-2		208,392,000.00		132,588,658.26		436.94		6,612,333.91		0.00		0.00		6,612,770.85		125,975,887.41		0.604514		6,612,770.85
A-3		218,330,615.00		120,409,214.10		0.00		9,519,509.88		0.00		0.00		9,519,509.88		110,889,704.22		0.507898		9,519,509.88
X-A1		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.000000		0.00
X-A2		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.000000		0.00
X-B		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.000000		0.00
B-1		8,588,000.00		8,588,000.00		0.00		0.00		0.00		0.00		0.00		8,588,000.00		1.000000		0.00
B-2		6,134,000.00		6,134,000.00		0.00		0.00		0.00		0.00		0.00		6,134,000.00		1.000000		0.00
B-3		3,680,000.00		3,680,000.00		0.00		0.00		0.00		0.00		0.00		3,680,000.00		1.000000		0.00
B-4		2,453,000.00		2,453,000.00		0.00		0.00		0.00		0.00		0.00		2,453,000.00		1.000000		0.00
B-5		920,000.00		920,000.00		0.00		0.00		0.00		0.00		0.00		920,000.00		1.000000		0.00
B-6		2,762,778.00		2,762,778.00		0.00		0.00		0.00		0.00		0.00		2,762,778.00		1.000000		0.00
A-R		100.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.000000		0.00

Totals		831,770,493.00		533,233,527.37		1,878.84		36,166,602.62		0.00		0.00		36,168,481.46		497,065,045.91		0.597599		36,168,481.46

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		671.987272		0.003789		52.652385		0.000000		0.000000		0.000000		52.656174		619.331098		52.656174
A-2		208,392,000.00		636.246393		0.002097		31.730268		0.000000		0.000000		0.000000		31.732364		604.514028		31.732364
A-3		218,330,615.00		551.499450		0.000000		43.601351		0.000000		0.000000		0.000000		43.601351		507.898099		46.601351
X-A1		0.00		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000
X-A2		0.00		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000
X-B		0.00		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000
B-1		8,588,000.00		1000.000000		0.000000		0.000000		0.000000		0.000000		0.000000		1000.000000		1.000000		0.000000
B-2		6,134,000.00		1000.000000		0.000000		0.000000		0.000000		0.000000		0.000000		1000.000000		1.000000		0.000000
B-3		3,680,000.00		1000.000000		0.000000		0.000000		0.000000		0.000000		0.000000		1000.000000		1.000000		0.000000
B-4		2,453,000.00		1000.000000		0.000000		0.000000		0.000000		0.000000		0.000000		1000.000000		1.000000		0.000000
B-5		920,000.00		1000.000000		0.000000		0.000000		0.000000		0.000000		0.000000		1000.000000		1.000000		0.000000
B-6		2,762,778.00		1000.000000		0.000000		0.000000		0.000000		0.000000		0.000000		1000.000000		1.000000		0.000000
A-R		100.00		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000		0.000000

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	11/20/05 - 12/19/05	30		4.42938	%		255,697,877.01		943,819.22		0.00		0.00		0.00		943,819.22		0.00		235,661,676.28
A-2	11/20/05 - 12/19/05	30		3.93000	%		132,588,658.26		434,227.86		0.00		0.00		0.00		434,227.86		0.00		125,975,887.41
A-3	11/20/05 - 12/19/05	30		3.96000	%		120,409,214.10		397,350.41		0.00		0.00		0.00		397,350.41		0.00		110,889,704.22
X-A1	11/01/05 - 11/30/05	30		0.86199	%		388,286,535.27		278,915.34		0.00		0.00		0.00		278,915.34		0.00		361,637,563.69
X-A2	11/01/05 - 11/30/05	30		0.91946	%		120,409,214.10		92,259.21		0.00		0.00		0.00		92,259.21		0.00		110,889,704.22
X-B	11/01/05 - 11/30/05	30		0.25341	%		18,402,000.00		3,886.10		0.00		0.00		0.00		3,004.70		0.00		18,402,000.00
B-1	11/20/05 - 12/19/05	30		4.65938	%		8,588,000.00		33,345.63		0.00		0.00		0.00		33,345.63		0.00		8,588,000.00
B-2	11/20/05 - 12/19/05	30		5.00938	%		6,134,000.00		25,606.28		0.00		0.00		0.00		25,606.28		0.00		6,134,000.00
B-3	11/20/05 - 12/19/05	30		5.40938	%		3,680,000.00		16,588.77		0.00		0.00		0.00		16,588.77		0.00		3,680,000.00
B-4	11/01/05 - 11/30/05	30		5.12197	%		2,453,000.00		10,470.16		0.00		0.00		0.00		10,470.16		0.00		2,453,000.00
B-5	11/01/05 - 11/30/05	30		5.12197	%		920,000.00		3,926.84		0.00		0.00		0.00		3,926.84		0.00		920,000.00
B-6	11/01/05 - 11/30/05	30		5.12197	%		2,762,778.00		11,792.38		0.00		0.00		0.00		11,792.38		0.00		2,762,778.00
A-R	N/A	N/A		4.92959	%		0.00		0.00		0.00		0.00		0.00		0.19		0.00		0.00

Totals									2,252,188.20		0.00		0.00		0.00		2,251,306.99		0.00

(1, 2)

Amount also includes coupon cap or basis risk shortfalls, if applicable.

Interest Distribution Factors Statement



							Beginning				Payment of				Non-				Remaining		Ending
				Current			Certificate/		Current		Unpaid		Current		Supported				Unpaid		Certificate/
		Original Face		Certificate			Notional		Accrued		Interest		Interest		Interest		Total Interest		Interest		Notational
Class	Accural Dates	Amount		Rate			Balance		Interest		Shortfall		Shortfall(1)		Shortfall		Distribution		Shortfall(2)		Balance

A-1	11/20/05 - 12/19/05		380,510,000.00		4.42938	%		671.987272		2.480406		0.000000		0.000000		0.000000		2.480406		0.000000		619.331098
A-2	11/20/05 - 12/19/05		208,392,000.00		3.93000	%		636.246393		2.083707		0.000000		0.000000		0.000000		2.083707		0.000000		604.514028
A-3	11/20/05 - 12/19/05		218,330,615.00		3.96000	%		551.499450		1.819948		0.000000		0.000000		0.000000		1.819948		0.000000		507.898099
X-A1	11/01/05 - 11/30/05		0.00		0.86199	%		659.339814		0.473619		0.000000		0.000000		0.000000		0.473619		0.000000		614.087851
X-A2	11/01/05 - 11/30/05		0.00		0.91946	%		551.499450		0.422567		0.000000		0.000000		0.000000		0.422567		0.000000		507.898099
X-B	11/01/05 - 11/30/05		0.00		0.25341	%		1000.000000		0.211178		0.000000		0.000000		0.000000		0.163281		0.000000		1000.000000
B-1	11/20/05 - 12/19/05		8,588,000.00		4.65938	%		1000.000000		3.882817		0.000000		0.000000		0.000000		3.882817		0.000000		1000.000000
B-2	11/20/05 - 12/19/05		6,134,000.00		5.00938	%		1000.000000		4.174483		0.000000		0.000000		0.000000		4.174883		0.000000		1000.000000
B-3	11/20/05 - 12/19/05		3,680,000.00		5.40938	%		1000.000000		4.507818		0.000000		0.000000		0.000000		4.507818		0.000000		1000.000000
B-4	11/01/05 - 11/30/05		2,453,000.00		5.12197	%		1000.000000		4.268308		0.000000		0.000000		0.000000		4.268308		0.000000		1000.000000
B-5	11/01/05 - 11/30/05		920,000.00		5.12197	%		1000.000000		4.268304		0.000000		0.000000		0.000000		4.268304		0.000000		1000.000000
B-6	11/01/05 - 11/30/05		2,762,778.00		5.12197	%		1000.000000		4.268305		0.000000		0.000000		0.000000		4.268305		0.000000		1000.000000
A-R	N/A		100.00		4.92959	%		0.000000		0.000000		0.000000		0.000000		0.000000		1.900000		0.000000		0.000000

(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			38,512,278.08
Reserve Funds and Credit Enhancements			0.00
Proceeds from Repurchased Loans			0.00
Servicer Advances			39,992.05
Realized Loss (Gains, Subsequent Expenses & Recoveries)			0.00
Prepayment Penalties			0.00
Swap/Cap Payments			0.00

Total Deposits			38,552,270.13

Withdrawals
Swap Payments			0.00
Reserve Funds and Credit Enhancements			0.00
Reimbursement for Servicer Advances			0.00
Total Administration Fees			132,481.68
Payment of Interest and Principal			38,419,788.45

Total Withdrawals (Pool Distribution Amount)			38,552,270.13

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*			129,041.48
Master Servicing Fee			3,440.20
Supported Prepayment/Curtailment Interest Shortfall			0.00


Total Administration Fees			132,481.68


*		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		881.40		881.40		1,000.00

Collateral Statement


Collateral Description	Fixed & Mixed Arm

Weighted Average Gross Coupon		5.506010	%
Weighted Average Net Coupon		5.130911	%
Weighted Average Pass-Through Rate		4.358793	%
Weighted Average Remaining Term		328

Beginning Scheduled Collateral Loan Count		1,266
Number of Loans Paid in Full		75
Ending Scheduled Collateral Loan Count		1,191

Beginning Scheduled Collateral Balance		412,824,314.18
Ending Scheduled Collateral Balance		386,175,342.60
Ending Actual Collateral Balance at 30-Nov-2005		386,176,256.53

Monthly P&I Constant		1,896,057.78
Special Servicing Fee		0.00
Prepayment Penalty Waived Amount		0.00
Prepayment Penalty Waived Count		0
Prepayment Penalty Paid Amount		0.00
Prepayment Penalty Paid Count		0
Realized Loss Amount		0.00
Cumulative Realized Loss		0.00

Scheduled Principal		1,878.84
Unscheduled Principal		26,647,092.74


Group		Group One		Group Two		Total
Collateral Description	Mixed ARM		6 Month LIBOR ARM		Mixed ARM
Weighted Average Coupon Rate		5.474914		5.565782		5.506010
Weighted Average Net Rate		5.099885		5.190550		5.130911
		0.000000		0.000000		4.358793
Weighted Average Remaining Term		326		331		328
Record Date		11/30/2005		11/30/2005		11/30/2005
Principal and Interest Constant		1,240,381.18		655,676.60		1,896,057.78
Beginning Loan Count		801		465		1,266
Loans Paid in Full		52		23		75
Ending Loan Count		749		442		1,191
Beginning Scheduled Balance		271,552,595.86		141,271,718.32		412,824,314.18
Ending Scheduled Balance		251,516,395.13		134,658,947.47		386,175,342.60
Scheduled Principal		1,441.90		436.94		1,878.84
Unscheduled Principal		20,034,758.83		6,612,333.91		26,647,092.74
Scheduled Interest		1,238,939.28		655,239.66		1,894,178.94
Servicing Fee		84,866.80		44,174.68		129,041.48
Master Servicing Fee		2,262.94		1,177.26		3,440.20
Trustee Fee		0.00		0.00		0.00
FRY Amount		0.00		0.00		0.00
Special Hazard Fee		0.00		0.00		0.00
Other Fee		0.00		0.00		0.00
Pool Insurance Fee		0.00		0.00		0.00
Spread 1		0.00		0.00		0.00
Spread 2		0.00		0.00		0.00
Spread 3		0.00		0.00		0.00
Net Interest		1,151,809.54		609,887.72		1,761,697.26
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 Waived Amount		0.00		0.00		0.00
Prepayment Penalty Waived Count		0		0		0
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

Miscellaneous Reporting


Rapid Prepay Event?	NO
Underlying Certificate Balance		110,889,704.27
Underlying Certificate Interest		489,609.62
Underlying Certificate Principal		9,519,509.86

Miscellaneous Reporting


Group One
One Month Libor Loan Balance	140,931,308.97
Six Month Libor Loan Balance	110,585,086.16
Principal Transfer Amount	0.00
Interest Transfer Amount	0.00
Pro Rata Senior Percent	94.161456	%
Senior Percent	100.000000	%
Senior Prepayment Percent	100.000000	%
Subordinate Percent	0.000000	%
Subordinate Prepayment Percent	0.000000	%

Group Two
Principal Transfer Amount	0.00
Interest Transfer Amount	0.00
Pro Rata Senior Percent	93.853646	%
Senior Percent	100.000000	%
Senior Prepayment Percent	100.000000	%
Subordinate Percent	0.000000	%
Subordinate Prepayment Percent	0.000000	%

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	23		8,871,015.95		30 Days	0		0.00		30 Days	0		0.00		30 Days	0		0.00		30 Days	23		8,871,015.95
60 Days	0		0.00		60 Days	0		0.00		60 Days	0		0.00		60 Days	0		0.00		60 Days	0		0.00
90 Days	1		185,466.73		90 Days	0		0.00		90 Days	0		0.00		90 Days	0		0.00		90 Days	1		185,466.73
120 Days	1		168,000.00		120 Days	0		0.00		120 Days	0		0.00		120 Days	0		0.00		120 Days	1		168,000.00
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

	25		9,224,482.68			0		0.00			0		0.00			0		0.00			25		9,224,482.68

	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	1.931150%		2.297142	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	1.931150%		2.297142	%
60 Days	0.000000%		0.000000	%	60 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	0.083963%		0.048026	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.083963%		0.048026	%
120 Days	0.083963%		0.043503	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.083963%		0.043503	%
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	%

	2.099076%		2.388672	%		0.000000%		0.000000	%		0.000000%		0.000000	%		0.000000%		0.000000	%		2.099076%		2.388672	%


Current Period Class A Insufficient Funds:			0.00			Principal Balance of Contaminated Properties					0.00			Periodic Advance					39,992.05

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	8		3,621,840.21		30 Days	0		0.00		30 Days	0		0.00		30 Days	0		0.00		30 Days	8		3,621,840.21
60 Days	0		0.00		60 Days	0		0.00		60 Days	0		0.00		60 Days	0		0.00		60 Days	0		0.00
90 Days	1		185,466.73		90 Days	0		0.00		90 Days	0		0.00		90 Days	0		0.00		90 Days	1		185,466.73
120 Days	1		168,000.00		120 Days	0		0.00		120 Days	0		0.00		120 Days	0		0.00		120 Days	1		168,000.00
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

	10		3,975,306.94			0		0.00			0		0.00			0		0.00			10		3,975,306.94

	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	1.068091%		1.439999	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	1.068091%		1.439999	%
60 Days	0.000000%		0.000000	%	60 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	0.133511%		0.73739	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.000000%		0.000000	%	90 Days	0.133511%		0.73739	%
120 Days	0.133511%		0.066795	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.000000%		0.000000	%	120 Days	0.133511%		0.066795	%
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	%

	1.335113%		1.580533	%		0.000000%		0.000000	%		0.000000%		0.000000	%		0.000000%		0.000000	%		1.335113%		1.580533	%



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	15		5,249,175.74		30 Days	0		0.00		30 Days	0		0.00		30 Days	0		0.00		30 Days	15		5,249,175.74
60 Days	0		0.00		60 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		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

	15		5,249,175.74			0		0.00			0		0.00			0		0.00			15		5,249,175.74

	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	3,393665%		3.898114	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	0.000000%		0.000000	%	30 Days	3,393665%		3.898114	%
60 Days	0.000000%		0.000000	%	60 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	%	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	%

	3,393665%		3.898114	%		0.000000%		0.000000	%		0.000000%		0.000000	%		0.000000%		0.000000	%		3,393665%		3.898114	%