Wells Fargo Bank Minnesota, N.A. SMT Series 2005-1 Certificateholder Distribution Statement (May 31, 2005 Record Date)

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Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SMT Series 2005-1 trust. It summarizes the principal and interest payments made to certificateholders as of the May 31, 2005 record date, with distributions occurring on June 20, 2005. The statement details the amounts distributed to each class of certificates, the remaining balances, and confirms that all calculations were made in accordance with the Pooling and Servicing Agreement. No realized losses were reported for this period.

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EX-10.1 2 f10560aexv10w1.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 ###-###-#### FAX: (301) 315-6660 SMT SERIES 2005-1 RECORD DATE: MAY 31, 2005 DISTRIBUTION DATE: JUNE 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Current Ending Class Pass-Through Beginning Interest Principal Realized Certificate Total Class CUSIP Description Rate Certificate Balance Distribution Distribution Loss Balance Distribution - ------ --------- ----------- ------------ ------------------- ------------ ------------ -------- -------------- ------------- A-1 81744FGM# SEN 3.32000% 272,594,430.63 754,177.92 7,741,486.20 0.00 264,852,944.43 8,495,664.12 A-2 81744FGN1 SEN 3.16875% 94,573,974.41 249,734.40 1,364,414.52 0.00 93,209,559.89 1,614,148.92 X-A 81744FGP6 IO 0.58249% 0.00 178,225.33 0.00 0.00 0.00 178,225.33 X-B 81744FGS0 IO 0.20717% 0.00 1,343.77 0.00 0.00 0.00 1,343.77 B-1 81744FGQ4 SUB 3.51000% 7,067,000.00 20,670.98 0.00 0.00 7,067,000.00 20,670.98 B-2 81744FGR2 SUB 3.79000% 3,949,000.00 12,472.26 0.00 0.00 3,949,000.00 12,472.26 B-3 81744FGU5 SUB 4.34000% 2,495,000.00 9,023.58 0.00 0.00 2,495,000.00 9,023.58 B-4 81744FGV3 SUB 3.86446% 1,455,000.00 4,685.66 0.00 0.00 1,455,000.00 4,685.66 B-5 81744FGW1 SUB 3.86446% 831,000.00 2,676.14 0.00 0.00 831,000.00 2,676.14 B-6 81744FGX9 SUB 3.86446% 1,871,544.03 6,027.09 0.00 0.00 1,871,544.03 6,027.09 A-R 81744FGT8 RES 3.91310% 0.00 0.35 0.00 0.00 0.00 0.35 ------------------- ------------ ------------ -------- -------------- ------------- Totals 384,836,949.07 1,239,037.48 9,105,900.72 0.00 375,731,048.35 10,344,938.20 ------------------- ------------ ------------ -------- -------------- ------------- Cumulative Class Realized Loss - ------ ------------- A-1 0.00 A-2 0.00 X-A 0.00 X-B 0.00 B-1 0.00 B-2 0.00 B-3 0.00 B-4 0.00 B-5 0.00 B-6 0.00 A-R 0.00 ---- Totals 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 Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction Balance - ------ -------------- -------------- ------------ ------------ --------- -------- --------------- ------------------ A-1 298,055,000.00 272,594,430.63 0.00 7,741,486.20 0.00 0.00 7,741,486.20 264,852,944.43 A-2 100,000,000.00 94,573,974.41 0.00 1,364,414.52 0.00 0.00 1,364,414.52 93,209,559.89 X-A 0.00 0.00 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 0.00 0.00 B-1 7,067,000.00 7,067,000.00 0.00 0.00 0.00 0.00 0.00 7,067,000.00 B-2 3,949,000.00 3,949,000.00 0.00 0.00 0.00 0.00 0.00 3,949,000.00 B-3 2,495,000.00 2,495,000.00 0.00 0.00 0.00 0.00 0.00 2,495,000.00 B-4 1,455,000.00 1,455,000.00 0.00 0.00 0.00 0.00 0.00 1,455,000.00 B-5 831,000.00 831,000.00 0.00 0.00 0.00 0.00 0.00 831,000.00 B-6 1,871,544.03 1,871,544.03 0.00 0.00 0.00 0.00 0.00 1,871,544.03 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------ ---- ---- --------------- ------------------ Totals 415,723,644.03 384,836,949.07 0.00 9,105,900.72 0.00 0.00 9,105,900.72 375,731,048.35 -------------- -------------- ---- ------------ ---- ---- --------------- ------------------ Ending Certificate Total Principal Class Percentage Distribution - ------ ------------------ --------------- A-1 0.88860427 7,741,486.20 A-2 0.93209560 1,364,414.52 X-A 0.00000000 0.00 X-B 0.00000000 0.00 B-1 1.00000000 0.00 B-2 1.00000000 0.00 B-3 1.00000000 0.00 B-4 1.00000000 0.00 B-5 1.00000000 0.00 B-6 1.00000000 0.00 A-R 0.00000000 0.00 ------------------ --------------- Totals 0.90380005 9,105,900.72 ------------------ ---------------
(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 Ending Original Face Certificate Principal Principal Realized Total Principal Ending Certificate Certificate Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance Percentage - ----- -------------- ------------- ------------ ------------ ---------- ---------- --------------- ------------------ ----------- A-1 298,055,000.00 914.57761363 0.00000000 25.97334787 0.00000000 0.00000000 25.97334787 888.60426576 0.88860427 A-2 100,000,000.00 945.73974410 0.00000000 13.64414520 0.00000000 0.00000000 13.64414520 932.09559890 0.93209560 X-A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 7,067,000.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 B-2 3,949,000.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 B-3 2,495,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 B-4 1,455,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 B-5 831,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 B-6 1,871,544.03 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Total Principal Class Distribution - ----- --------------- A-1 25.97334787 A-2 13.64414520 X-A 0.00000000 X-B 0.00000000 B-1 0.00000000 B-2 0.00000000 B-3 0.00000000 B-4 0.00000000 B-5 0.00000000 B-6 0.00000000 A-R 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 Total Interest Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) Distribution - ------ -------------- ---------------- -------------- ------------ ---------- --------- --------- -------- --------------- A-1 298,055,000.00 3.32000% 272,594,430.63 754,177.92 0.00 0.00 0.00 0.00 754,177.92 A-2 100,000,000.00 3.16875% 94,573,974.41 249,734.40 0.00 0.00 0.00 0.00 249,734.40 X-A 0.00 0.58249% 367,168,405.04 178,225.33 0.00 0.00 0.00 0.00 178,225.33 X-B 0.00 0.20717% 13,511,000.00 2,332.50 0.00 0.00 0.00 0.00 1,343.77 B-1 7,067,000.00 3.51000% 7,067,000.00 20,670.98 0.00 0.00 0.00 0.00 20,670.98 B-2 3,949,000.00 3.79000% 3,949,000.00 12,472.26 0.00 0.00 0.00 0.00 12,472.26 B-3 2,495,000.00 4.34000% 2,495,000.00 9,023.58 0.00 0.00 0.00 0.00 9,023.58 B-4 1,455,000.00 3.86446% 1,455,000.00 4,685.66 0.00 0.00 0.00 0.00 4,685.66 B-5 831,000.00 3.86446% 831,000.00 2,676.14 0.00 0.00 0.00 0.00 2,676.14 B-6 1,871,544.03 3.86446% 1,871,544.03 6,027.09 0.00 0.00 0.00 0.00 6,027.09 A-R 100.00 3.91310% 0.00 0.00 0.00 0.00 0.00 0.00 0.35 -------------- ------------ ---- ---- ---- ---- --------------- Totals 415,723,644.03 1,240,025.86 0.00 0.00 0.00 0.00 1,239,037.48 -------------- ------------ ---- ---- ---- ---- --------------- Remaining Ending Unpaid Certificate/ Interest Notational Class Shortfall Balance - ------ --------- -------------- A-1 0.00 264,852,944.43 A-2 0.00 93,209,559.89 X-A 0.00 358,062.504.32 X-B 0.00 13,511,000.00 B-1 0.00 7,067,000.00 B-2 0.00 3,949,000.00 B-3 0.00 2,495,000.00 B-4 0.00 1,455,000.00 B-5 0.00 831,000.00 B-6 0.00 1,871,544.03 A-R 0.00 0.00 ---- Totals 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 Non- Remaining Current Beginning Current of Unpaid Current Supported Unpaid Class Original Face Certificate Certificate/ Accrued Interest Interest Interest Realized Total Interest Interest (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) Distribution Shortfall - ----- -------------- ----------- ---------------- ---------- ---------- ---------- ---------- ---------- -------------- ---------- A-1 298,055,000.00 3.32000% 914.57761363 2.53033138 0.00000000 0.00000000 0.00000000 0.00000000 2.53033138 0.00000000 A-2 100,000,000.00 3.16875% 945.73974410 2.49734400 0.00000000 0.00000000 0.00000000 0.00000000 2.49734400 0.00000000 X-A 0.00 0.58249% 922.40621281 0.44774046 0.00000000 0.00000000 0.00000000 0.00000000 0.44774046 0.00000000 X-B 0.00 0.20717% 1000.00000000 0.17263711 0.00000000 0.00000000 0.00000000 0.00000000 0.09945748 0.00000000 B-1 7,067,000.00 3.51000% 1000.00000000 2.92500071 0.00000000 0.00000000 0.00000000 0.00000000 2.92500071 0.00000000 B-2 3,949,000.00 3.79000% 1000.00000000 3.15833376 0.00000000 0.00000000 0.00000000 0.00000000 3.15833376 0.00000000 B-3 2,495,000.00 4.34000% 1000.00000000 3.61666533 0.00000000 0.00000000 0.00000000 0.00000000 3.61666533 0.00000000 B-4 1,455,000.00 3.86446% 1000.00000000 3.22038448 0.00000000 0.00000000 0.00000000 0.00000000 3.22038488 0.00000000 B-5 831,000.00 3.86446% 1000.00000000 3.22038508 0.00000000 0.00000000 0.00000000 0.00000000 3.22038508 0.00000000 B-6 1,871,544.03 3.86446% 1000.00000000 3.22038376 0.00000000 0.00000000 0.00000000 0.00000000 3.22038376 0.00000000 A-R 100.00 3.91310% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3.50000000 0.00000000 Class Ending Certificate/ (5) Notational Balance - ----- ------------------- A-1 888.60426576 A-2 932.09559890 X-A 899.53022653 X-B 1000.00000000 B-1 1000.00000000 B-2 1000.00000000 B-3 1000.00000000 B-4 1000.00000000 B-5 1000.00000000 B-6 1000.00000000 A-R 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 10,452,757.43 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 16,519.40 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 10,469,276.83 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 124,338.63 Payment of Interest and Principal 10,344,938.20 ------------- Total Withdrawals (Pool Distribution Amount) 10,469,276.83 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 120,329.91 Master Servicing Fee 4,008.72 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 124,338.63 ==========
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 1,000.00 988.73 988.73 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance -------- ------------ 0-29 Days 0 0.00 30 Days 15 5,299,198.29 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------ 15 5,299,198.29
No. of Principal Loans Balance -------- ------------ 0-29 Days 0.000000% 0.000000% 30 Days 1.341682% 1.410369% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------ 1.341682% 1.410369%
BANKRUPTCY
No. of Principal Loans Balance -------- ------------ 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------ 0 0.00
No. of Principal Loans Balance -------- ------------ 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------ 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance -------- --------- 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- --------- 0 0.00
No. of Principal Loans Balance -------- --------- 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% -------- --------- 180+ Days 0.000000% 0.000000% 0.000000% 0.000000%
REO
No. of Principal Loans Balance -------- --------- 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- --------- 0 0.00
No. of Principal Loans Balance -------- --------- 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- --------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance -------- -------------- 0-29 Days 0 0.00 30 Days 15 5,299,198.29 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------------- 15 5,299,198.29
No. of Principal Loans Balance -------- -------------- 0-29 Days 0.000000% 0.000000% 30 Days 1.341682% 1.410369% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------------- 1.341682% 1.410369%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 16,519.40
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ---------- --------------- ------------ Class A 17,668,544.03 4.25006956% 17,668,544.03 4.70244450% 95.297555% 0.000000% Class B-1 10,601,544.03 2.55014219% 10,601,544.03 2.82157785% 1.880867% 39.997636% Class B-2 6,652,544.03 1.60023230% 6,652,544.03 1.77056010% 1.051018% 22.350455% Class B-3 4,157,544.03 1.00007399% 4,157,544.03 1.10542129% 0.664039% 14.121141% Class B-4 2,702,544.03 0.65008187% 2,702,544.03 0.71927621% 0.387245% 8.234974% Class B-5 1,871,544.03 0.45018946% 1,871,544.03 0.49810737% 0.221169% 4.703274% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.498107% 10.592520%
Please refer to the prospectus supplement for a full description of loss exposure DELINQUENCY STATUS BY GROUP GROUP ONE DELINQUENT
No. of Principal Loans Balance ----- ------- 0-29 Days 0 0.00 30 Days 11 3,139,198.29 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------ 11 3,139,198.29
No. of Principal Loans Balance ----- ------- 0-29 Days 0.000000% 0.000000% 30 Days 1.330109% 1.128870% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------ 1.330109% 1.128870%
BANKRUPTCY
No. of Principal Loans Balance ----- ------- 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00
No. of Principal Loans Balance ----- ------- 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance ----- ------- 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- --------- 0 0.00
No. of Principal Loans Balance ----- ------- 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance ----- ------- 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00
No. of Principal Loans Balance ----- ------- 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance ----- ------- 0-29 Days 0 0.00 30 Days 11 3,139,198.29 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------ 11 3,139,198.29
No. of Principal Loans Balance ----- ------- 0-29 Days 0.000000% 0.000000% 30 Days 1.330109% 1.128870% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------ 1.330109% 1.128870%
GROUP TWO DELINQUENT
No. of Principal Loans Balance ----- ------- 0-29 Days 0 0.00 30 Days 4 2,160,000.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------ 4 2,160,000.00
No. of Principal Loans Balance ----- ------- 0-29 Days 0.000000% 0.000000% 30 Days 1.374570% 2.212020% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------ 1.374570% 2.212020%
BANKRUPTCY 1.183654%
No. of Principal Loans Balance ----- ------- 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00
No. of Principal Loans Balance ----- ------- 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
FORECLOSURE
No. of Principal Loans Balance ----- ------- 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00
No. of Principal Loans Balance ----- ------- 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
REO
No. of Principal Loans Balance ----- ------- 0-29 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- -------- 0 0.00
No. of Principal Loans Balance ----- ------- 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- 0.000000% 0.000000%
TOTAL
No. of Principal Loans Balance ----- ------- 0-29 Days 0 0.00 30 Days 4 2,160,000.00 60 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 -------- ------------ 4 2,160,000.00
No. of Principal Loans Balance ----- ------- 0-29 Days 0.000000% 0.000000% 30 Days 1.374570% 2.212020% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ------------ 1.374570% 2.212020%
COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 4.251284% Weighted Average Net Coupon 3.876071% Weighted Average Pass-Through Rate 3.863571% Weighted Average Maturity (Stepdown Calculation) 331 Beginning Scheduled Collateral Loan Count 1,140 Number of Loans Paid in Full 22 Ending Scheduled Collateral Loan Count 1,118 Beginning Scheduled Collateral Balance 384,836,949.07 Ending Scheduled Collateral Balance 375,731,048.35 Ending Actual Collateral Balance at 31-May-2005 375,731,438.64 Monthly P&I Constant 1,363,376.00 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 10,287,049.65 Scheduled Principal 0.00 Unscheduled Principal 9,105,900.72
MISCELLANEOUS REPORTING Pro Rata Senior Percent 95.408823%
GROUP POOL ONE POOL TWO TOTAL Collateral Description Mixed ARM 6 Month LIBOR ARM Mixed ARM Weighted Average Coupon Rate 4.288939 4.412585 4.251284 Weighted Average Net Rate 3.913797 3.767165 3.876071 Pass-Through Rate 3.901297 3.754666 3.863571 Weighted Average Maturity 330 335 331 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal and Interest Constant 1,021,568.85 341,807.15 1,363,376.00 Beginning Loan Count 844 296 1,140 Loans Paid in Full 17 5 22 Ending Loan Count 827 291 1,118 Beginning Scheduled Balance 285,824,236.61 99,012,712.46 384,836,949.07 Ending Scheduled Balance 278,082,750.41 97,648,297.94 375,731,048.35 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 7,741,486.20 1,364,414.52 9,105,900.72 Scheduled Interest 1,021,568.85 341,807.15 1,363,376.00 Servicing Fee 89,353.82 30,976.09 120,329.91 Master Servicing Fee 2,977.34 1,031.38 4,008.72 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 929,237.69 307,799.68 1,239,037.37 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 144,609,726.63 Six Month Libor Loan Balance 133,473,023.78 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