Wells Fargo Bank Minnesota, N.A. SMT Series 2005-2 Certificateholder Distribution Statement (June 2005)

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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 2005-2 trust. It summarizes the principal and interest payments made to certificateholders as of the May 31, 2005 record date and June 20, 2005 distribution date. 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 f10560bexv10w1.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 2005-2 RECORD DATE: MAY 31, 2005 DISTRIBUTION DATE: JUNE 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Class Pass-Through Beginning Interest Principal Current Ending Certificate Class CUSIP Description Rate Certificate Balance Distribution Distribution Realized Loss Balance - ------- --------- ----------- ------------ ------------------- ------------- ------------- ------------- ------------------- A-1 81744FGY7 SEN 3.31000% 194,810,989.86 537,353.65 4,889,923.21 0.00 189,921,066.65 A-2 81744FGZ4 SEN 3.36000% 116,624,656.95 326,549.04 5,269,309.43 0.00 111,355,347.52 A-R 81744FHJ9 REZ 3.84812% 0.00 0.40 0.00 0.00 0.00 X-A 81744FHD2 IO 0.55328% 0.00 143,591.39 0.00 0.00 0.00 B-1 81744FHA8 SUB 3.48000% 6,016,000.00 17,446.40 0.00 0.00 6,016,000.00 B-2 81744FHB6 SUB 3.76000% 3,266,000.00 10,233.47 0.00 0.00 3,266,000.00 X-B 81744FHE0 IO 0.30330% 0.00 2,346.05 0.00 0.00 0.00 B-3 81744FHC4 SUB 3.88183% 1,890,000.00 6,113.88 0.00 0.00 1,890,000.00 B-4 81744FHF7 SUB 3.88183% 1,231,000.00 3,982.11 0.00 0.00 1,231,000.00 B-5 81744FHG5 SUB 3.88183% 687,000.00 2,222.35 0.00 0.00 687,000.00 B-6 81744FHH3 SUB 3.88183% 1,549,605.55 5,012.75 0.00 0.00 1,549,605.55 ------------------- ------------- ------------- ---- ------------------- Totals 326,075,252.36 1,054,851.49 10,159,232.64 0.00 315,916,019.72 ------------------- ------------- ------------- ---- ------------------- Total Cumulative Class Distribution Realized Loss - ------- ------------- ------------- A-1 5,427,276.86 0.00 A-2 5,595,858.47 0.00 A-R 0.40 0.00 X-A 143,591.39 0.00 B-1 17,446.40 0.00 B-2 10,233.47 0.00 X-B 2,346.05 0.00 B-3 6,113.88 0.00 B-4 3,982.11 0.00 B-5 2,222.35 0.00 B-6 5,012.75 0.00 ------------- ---- Totals 11,214,084.13 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-1 202,462,000.00 194,810,989.86 291.64 4,889,631.57 0.00 0.00 4,889,923.21 189,921,066.65 A-2 126,737,000.00 116,624,656.95 484.30 5,268,825.13 0.00 0.00 5,269,309.43 111,355,347.52 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-A 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 6,016,000.00 6,016,000.00 0.00 0.00 0.00 0.00 0.00 6,016,000.00 B-2 3,266,000.00 3,266,000.00 0.00 0.00 0.00 0.00 0.00 3,266,000.00 X-B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-3 1,890,000.00 1,890,000.00 0.00 0.00 0.00 0.00 0.00 1,890,000.00 B-4 1,231,000.00 1,231,000.00 0.00 0.00 0.00 0.00 0.00 1,231,000.00 B-5 687,000.00 687,000.00 0.00 0.00 0.00 0.00 0.00 687,000.00 B-6 1,549,605.55 1,549,605.55 0.00 0.00 0.00 0.00 0.00 1,549,605.55 -------------- -------------- ------------ ------------- ---- ---- ---------------- ------------------ Totals 343,838,705.55 326,075,252.36 775.94 10,158,456.70 0.00 0.00 10,159,232.64 315,916,019.72 -------------- -------------- ------------ ------------- ---- ---- ---------------- ------------------ Ending Certificate Total Principal Class Percentage Distribution - ------- ------------------ --------------- A-1 0.93805784 4,889,923.21 A-2 0.87863329 5,269,309.43 A-R 0.00000000 0.00 X-A 0.00000000 0.00 B-1 1.00000000 0.00 B-2 1.00000000 0.00 X-B 0.00000000 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 ------------------ --------------- Totals 0.91879132 10,159,232.64 ------------------ ---------------
(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 Total Principal Ending Certificate Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance - ------- -------------- ------------- ------------ ------------ ---------- ---------- --------------- ------------------ A-1 202,462,000.00 962.21014245 0.00144047 24.15086075 0.00000000 0.00000000 24.15230122 938.05784122 A-2 126,737,000.00 920.21001720 0.00382130 41.57290397 0.00000000 0.00000000 41.57672527 878.63329194 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 6,016,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-2 3,266,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 1,890,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-4 1,231,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-5 687,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-6 1,549,605.55 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 Ending Certificate Total Principal Class Percentage Distribution - ------- ----------- --------------- A-1 0.93805784 24.15230122 A-2 0.87683329 41.57672527 A-R 0.00000000 0.00000000 X-A 0.00000000 0.00000000 B-1 1.00000000 0.00000000 B-2 1.00000000 0.00000000 X-B 0.00000000 0.00000000 B-3 1.00000000 0.00000000 B-4 1.00000000 0.00000000 B-5 1.00000000 0.00000000 B-6 1.00000000 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 Total Interest Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) Distribution - ------ -------------- ---------------- -------------- ------------ ---------- --------- --------- -------- -------------- A-1 202,462,000.00 3.31000% 194,810,989.86 537,353.65 0.00 0.00 0.00 0.00 537,353.65 A-2 126,737,000.00 3.36000% 116,624,656.95 326,549.04 0.00 0.00 0.00 0.00 326,549.04 A-R 100.00 3.84812% 0.00 0.00 0.00 0.00 0.00 0.00 0.40 X-A 0.00 0.55328% 311,435,646.81 143,591.39 0.00 0.00 0.00 0.00 143,591.39 B-1 6,016,000.00 3.48000% 6,016,000.00 17,446.40 0.00 0.00 0.00 0.00 17,446.40 B-2 3,266,000.00 3.76000% 3,266,000.00 10,233.47 0.00 0.00 0.00 0.00 10,233.47 X-B 0.00 0.30330% 9,282,000.00 2,346.05 0.00 0.00 0.00 0.00 2,346.05 B-3 1,890,000.00 3.88183% 1,890,000.00 6,113.88 0.00 0.00 0.00 0.00 6,113.88 B-4 1,231,000.00 3.88183% 1,231,000.00 3,982.11 0.00 0.00 0.00 0.00 3,982.11 B-5 687,000.00 3.88183% 687,000.00 2,222.35 0.00 0.00 0.00 0.00 2,222.35 B-6 1,549,605.55 3.88183% 1,549,605.55 5,012.75 0.00 0.00 0.00 0.00 5,012.75 -------------- ------------ ---- ---- ---- ---- -------------- Totals 343,838,705.55 1,054,851.09 0.00 0.00 0.00 0.00 1,054,851.49 -------------- ------------ ---- ---- ---- ---- -------------- Remaining Unpaid Interest Ending Certificate/ Class Shortfall Notational Balance - ------ --------- ------------------- A-1 0.00 189,921,066.65 A-2 0.00 111,355,347.52 A-R 0.00 0.00 X-A 0.00 301,276,414.17 B-1 0.00 6,016,000.00 B-2 0.00 3,266,000.00 X-B 0.00 9,282,000.00 B-3 0.00 1,890,000.00 B-4 0.00 1,231,000.00 B-5 0.00 687,000.00 B-6 0.00 1,549,605.55 ---- 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 of Non- Current Beginning Unpaid Current Supported Class Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized Total Interest (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) Distribution - ----- -------------- ----------- ---------------- --------------- ---------- ---------- ---------- ---------- -------------- A-1 202,462,000.00 3.31000% 962.21014245 2.65409632 0.00000000 0.00000000 0.00000000 0.00000000 2.65409632 A-2 126,737,000.00 3.36000% 920.21001720 2.57658805 0.00000000 0.00000000 0.00000000 0.00000000 2.57658805 A-R 100.00 3.84812% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 4.00000000 X-A 0.00 0.55328% 946.04068302 0.43618416 0.00000000 0.00000000 0.00000000 0.00000000 0.43618416 B-1 6,016,000.00 3.48000% 1000.00000000 2.90000000 0.00000000 0.00000000 0.00000000 0.00000000 2.90000000 B-2 3,266,000.00 3.76000% 1000.00000000 3.13333435 0.00000000 0.00000000 0.00000000 0.00000000 3.13333435 X-B 0.00 0.30330% 1000.00000000 0.25275264 0.00000000 0.00000000 0.00000000 0.00000000 0.25275264 B-3 1,890,000.00 3.88183% 1000.00000000 3.23485714 0.00000000 0.00000000 0.00000000 0.00000000 3.23485714 B-4 1,231,000.00 3.88183% 1000.00000000 3.23486784 0.00000000 0.00000000 0.00000000 0.00000000 3.23485784 B-5 687,000.00 3.88183% 1000.00000000 3.23486172 0.00000000 0.00000000 0.00000000 0.00000000 3.23486172 B-6 1,549,605.55 3.88183% 1000.00000000 3.23485548 0.00000000 0.00000000 0.00000000 0.00000000 3.23485548 Remaining Unpaid Class Interest Ending Certificate/ (5) Shortfall Notational Balance - ----- ---------- ------------------- A-1 0.00000000 938.05784122 A-2 0.00000000 878.63329194 A-R 0.00000000 0.00000000 X-A 0.00000000 915.18022281 B-1 0.00000000 1000.00000000 B-2 0.00000000 1000.00000000 X-B 0.00000000 1000.00000000 B-3 0.00000000 1000.00000000 B-4 0.00000000 1000.00000000 B-5 0.00000000 1000.00000000 B-6 0.00000000 1000.00000000
(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 11,308,621.03 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 14,115.21 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 11,322,736.24 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 108,652.11 Payment of Interest and Principal 11,214,084.13 ------------- Total Withdrawals (Pool Distribution Amount) 11,322,736.24 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 103,896.84 Master Servicing Fee 4,755.27 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 108,652.11 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------ --------- ----------- -------- -------- Reserve Fund 4,500.00 0.00 0.00 4,500.00 Reserve Fund 4,500.00 0.00 0.00 4,500.00 Reserve Fund 1,000.00 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT
No. of Principal Loans Balance ------- ------------ 0-29 Days 0 0.00 30 Days 9 4,194,312.26 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 ------- ------------ 9 4,194,312.26
No. of Principal Loans Balance --------- --------- 0-29 Days 0.000000% 0.000000% 30 Days 1.047730% 1.327665% 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% -------- -------- 1.047730% 1.327665%
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 9 4,194,312.26 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 ------ ------------ 9 4,194,312.26
No. of Principal Loans Balance --------- --------- 0-29 Days 0.000000% 0.000000% 30 Days 1.047730% 1.327665% 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% -------- -------- 1.047730% 1.327665%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 14,115.21
Original $ Original% Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ---------- --------------- ------------ Class A 14,639,605.55 4.25769563% 14,639,605.55 4.63401810% 95.365982% 0.000000% Class B-1 8,623,605.55 2.50803805% 8,623,605.55 2.72971455% 1.904304% 41.094003% Class B-2 5,357,605.55 1.55817407% 5,357,605.55 1.69589550% 1.033819% 22.309344% Class B-3 3,467,605.55 1.00849773% 3,467,605.55 1.09763524% 0.598260% 12.910184% Class B-4 2,236,605.55 0.65048103% 2,236,605.55 0.70797472% 0.389661% 8.408697% Class B-5 1,549,605.55 0.45067804% 1,549,605.55 0.49051186% 0.217463% 4.692749% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.490512% 10.585023%
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 4 1,350,799.99 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 1,350,799.99
No. of Principal Loans Balance --------- ----------- 0-29 Days 0.000000% 0.000000% 30 Days 0.764818% 0.679015% 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% -------- ------------ 0.764818% 0.679015
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 4 1,350,799.99 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 1,350,799.99
No. of Principal Loans Balance -------- ------------ 0-29 Days 0.000000% 0.000000% 30 Days 0.764818% 0.679015% 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% -------- ------------ 0.764818% 0.679015%
GROUP TWO DELINQUENT
No. of Principal Loans Balance -------- ------------ 0-29 Days 0 0.00 30 Days 5 2,843,512.27 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 -------- ------------ 5 2,843,512.27
No. of Principal Loans Balance -------- ------------ 0-29 Days 0.000000% 0.000000% 30 Days 1.488095% 2.430739% 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% -------- ----------- 1.488095% 2.430739%
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 5 2,843,512.27 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 -------- ------------ 5 2,843,512.27
No. of Principal Loans Balance -------- ------------ 0-29 Days 0.000000% 0.000000% 30 Days 1.488095% 2.430739% 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% -------- ------------ 1.488095% 2.430739%
COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 4.281846% Weighted Average Net Coupon 3.899492% Weighted Average Pass-Through Rate 3.881992% Weighted Average Maturity (Stepdown Calculation) 334 Beginning Scheduled Collateral Loan Count 887 Number of Loans Paid in Full 28 Ending Scheduled Collateral Loan Count 859 Beginning Scheduled Collateral Balance 326,075,252.36 Ending Scheduled Collateral Balance 315,916,019.72 Ending Actual Collateral Balance at 31-May-2005 315,916,505.37 Monthly P&I Constant 1,164,279.41 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 11,166,726.72 Scheduled Principal 775.94 Unscheduled Principal 10,158,456.70
MISCELLANEOUS REPORTING Pro Rata Senior Percent 95.510360% Pro Rata Subordinate Percent 4.489640%
GROUP ONE TWO TOTAL - ------------------------------- -------------- -------------- -------------- Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.286951 4.273336 4.281846 Weighted Average Net Rate 3.906133 3.888421 3.899492 Pass-Through Rate 3.888633 3.870921 3.881992 Weighted Average Maturity 331 339 334 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal and Interest Constant 728,448.30 435,831.11 1,164,279.41 Beginning Loan Count 538 349 887 Loans Paid in Full 15 13 28 Ending Loan Count 523 336 859 Beginning Scheduled Balance 203,825,042.81 122,250,209.55 326,075,252.36 Ending Scheduled Balance 198,935,119.60 116,980,900.12 315,916,019.72 Scheduled Principal 291.64 484.30 775.94 Unscheduled Principal 4,889,631.57 5,268,825.13 10,158,456.70 Scheduled Interest 728,156.66 435,346.81 1,163,503.47 Servicing Fee 64,683.59 39,213.25 103,896.84 Master Servicing Fee 2,972.45 1,782.82 4,755.27 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 660,500.62 394,350.74 1,054,851.36 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 0ne One Month Libor Loan Balance 107,273,348.61 Principal Transfer Amount 0.00 Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Interest Transfer Amount 0.00 Group Two Six-Month Libor Loan Balance 91,661,770.99 Principal Transfer Amount 0.00 Senior Percent 100.000000% Senior Prepayment Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepayment Percent 0.000000% Interest Transfer Amount 0.00