8-K 1 ace05he3_10507.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): July 25, 2005 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2005-HE3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-123741-01 Pooling and Servicing Agreement) (Commission 54-2173089 (State or other File Number) 54-2173090 jurisdiction 54-2173091 of Incorporation) IRS EIN 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 July 25, 2005 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2005-HE3 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-HE3 Trust, relating to the July 25, 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-HE3 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 7/27/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2005-HE3 Trust, relating to the July 25, 2005 distribution. EX-99.1

ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 56/3130/2005 Distribution Date: 67/2725/2005 ACE Securities Corporation Asset Backed Pass-Through Certificates Series ACE 2005-HE3 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-1A 004421MX8 SEN 3.~~31000~~53438% ~~364~~361,~~879~~094,~~652~~199.1733 1992,~~107,105~~634.6831 A-1B 004421MY6 SEN 3.~~35000~~57438% 9190,~~220~~274,~~903~~530.6819 ~~280~~250,~~124~~969.1981 A-2A 004421MZ3 SEN 3.~~19000~~41438% ~~216~~209,~~251~~359,~~076~~402.8065 ~~632~~555,~~354~~980.1988 A-2B 004421NA7 SEN 3.~~30000~~52438% 119,685,000.00 ~~362~~328,~~047~~078.1366 A-2C 004421NB5 SEN 3.~~41000~~63438% 49,096,000.00 ~~153~~138,~~465~~781.9163 M-1 004421NC3 MEZ 3.~~52000~~74438% 58,358,000.00 ~~188~~169,~~301~~955.8174 M-2 004421ND1 MEZ 3.~~54000~~76438% 35,451,000.00 ~~115~~103,~~038~~795.5025 M-3 004421NE9 MEZ 3.~~56000~~78438% 22,362,000.00 7265,~~974~~820.6646 M-4 004421NF6 MEZ 3.~~72000~~94438% 19,634,000.00 6660,~~951~~234.9419 M-5 004421NG4 MEZ 3.~~75000~~97438% 18,544,000.00 6357,~~745~~322.0092 M-6 004421NH2 MEZ 34.~~78000~~00438% 17,998,000.00 6256,~~363~~055.0709 M-7 004421NJ8 MEZ 4.~~39000~~61438% 14,180,000.00 5750,~~062~~891.6848 M-8 004421NK5 MEZ 4.~~44000~~66438% 13,090,000.00 5347,~~276~~488.3057 M-9 004421NL3 MEZ 45.~~89000~~11438% 10,908,000.00 4843,~~895~~390.1140 B-1 004421NM1 SUB 6.~~34000~~56438% 6,545,000.00 3833,~~037~~416.3634 B-2 004421NN9 SUB 6.~~34000~~56438% 10,908,000.00 6355,~~393~~692.6620 B-3 004421NP4 SUB 6.~~34000~~56438% 8,181,000.00 4741,~~545~~769.2415 CE ACE05H2CE SEN 0.00000% 5,454,025.98 2,~~497~~914,~~954~~539.0110 P ACE05HE2P SEN 0.00000% 100.00 ~~135~~247,~~656~~205.3923 R-1 ACE05H3R1 SEN 0.00000% 0.00 0.00 Totals 1,~~082~~071,~~745~~122,~~758~~258.6315 6,~~046~~214,~~292~~021.8341

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1A 38,~~785~~530,~~452~~958.8494 0.00 ~~361~~352,~~094~~563,~~199~~240.3339 49,~~892~~523,~~558~~593.5225 0.00 A-1B ~~946~~2,~~373~~132,762.4990 0.00 9088,~~274~~141,~~530~~767.1930 12,~~226~~383,~~497~~732.6871 0.00 A-2A 6,~~891~~271,~~674~~543.1501 0.00 ~~209~~203,~~359~~087,~~402~~859.6564 76,~~524~~827,~~028~~523.3489 0.00 A-2B 0.00 0.00 119,685,000.00 ~~362~~328,~~047~~078.1366 0.00 A-2C 0.00 0.00 49,096,000.00 ~~153~~138,~~465~~781.9163 0.00 M-1 0.00 0.00 58,358,000.00 ~~188~~169,~~301~~955.8174 0.00 M-2 0.00 0.00 35,451,000.00 ~~115~~103,~~038~~795.5025 0.00 M-3 0.00 0.00 22,362,000.00 7265,~~974~~820.6646 0.00 M-4 0.00 0.00 19,634,000.00 6660,~~951~~234.9419 0.00 M-5 0.00 0.00 18,544,000.00 6357,~~745~~322.0092 0.00 M-6 0.00 0.00 17,998,000.00 6256,~~363~~055.0709 0.00 M-7 0.00 0.00 14,180,000.00 5750,~~062~~891.6848 0.00 M-8 0.00 0.00 13,090,000.00 5347,~~276~~488.3057 0.00 M-9 0.00 0.00 10,908,000.00 4843,~~895~~390.1140 0.00 B-1 0.00 0.00 6,545,000.00 3833,~~037~~416.3634 0.00 B-2 0.00 0.00 10,908,000.00 6355,~~393~~692.6620 0.00 B-3 0.00 0.00 8,181,000.00 4741,~~545~~769.2415 0.00 CE 0.00 0.00 5,454,025.98 2,~~497~~914,~~954~~539.0110 0.00 P 0.00 0.00 100.00 ~~135~~247,~~656~~205.3923 0.00 R-1 0.00 0.00 0.00 0.00 0.00 Totals 1116,~~623~~935,~~500~~264.4885 0.00 1,~~071~~054,~~122~~186,~~258~~993.1531 1723,~~669~~149,~~793~~286.3126 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-1A 368,328,000.00 ~~364~~361,~~879~~094,~~652~~199.1733 0.00 38,~~785~~530,~~452~~958.8494 0.00 0.00 A-1B 92,083,000.00 9190,~~220~~274,~~903~~530.6819 0.00 ~~946~~2,~~373~~132,762.4990 0.00 0.00 A-2A 220,000,000.00 ~~216~~209,~~251~~359,~~076~~402.8065 0.00 6,~~891~~271,~~674~~543.1501 0.00 0.00 A-2B 119,685,000.00 119,685,000.00 0.00 0.00 0.00 0.00 A-2C 49,096,000.00 49,096,000.00 0.00 0.00 0.00 0.00 M-1 58,358,000.00 58,358,000.00 0.00 0.00 0.00 0.00 M-2 35,451,000.00 35,451,000.00 0.00 0.00 0.00 0.00 M-3 22,362,000.00 22,362,000.00 0.00 0.00 0.00 0.00 M-4 19,634,000.00 19,634,000.00 0.00 0.00 0.00 0.00 M-5 18,544,000.00 18,544,000.00 0.00 0.00 0.00 0.00 M-6 17,998,000.00 17,998,000.00 0.00 0.00 0.00 0.00 M-7 14,180,000.00 14,180,000.00 0.00 0.00 0.00 0.00 M-8 13,090,000.00 13,090,000.00 0.00 0.00 0.00 0.00 M-9 10,908,000.00 10,908,000.00 0.00 0.00 0.00 0.00 B-1 6,545,000.00 6,545,000.00 0.00 0.00 0.00 0.00 B-2 10,908,000.00 10,908,000.00 0.00 0.00 0.00 0.00 B-3 8,181,000.00 8,181,000.00 0.00 0.00 0.00 0.00 CE 5,454,097.00 5,454,025.98 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,090,805,197.00 1,~~082~~071,~~745~~122,~~758~~258.6315 0.00 1116,~~623~~935,~~500~~264.4885 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-1A 38,~~785~~530,~~452~~958.8494 ~~361~~352,~~094~~563,~~199~~240.3339 0.~~98036044~~95719913 38,~~785~~530,~~452~~958.8494 A-1B ~~946~~2,~~373~~132,762.49 90 88,~~274~~141,~~530~~767.1930 0.~~98036044~~95719913 ~~946~~2,~~373~~132,762.4990 A-2A 6,~~891~~271,~~674~~543.1501 ~~209~~203,~~359~~087,~~402~~859.6564 0.~~95163365~~92312663 6,~~891~~271,~~674~~543.1501 A-2B 0.00 119,685,000.00 1.00000000 0.00 A-2C 0.00 49,096,000.00 1.00000000 0.00 M-1 0.00 58,358,000.00 1.00000000 0.00 M-2 0.00 35,451,000.00 1.00000000 0.00 M-3 0.00 22,362,000.00 1.00000000 0.00 M-4 0.00 19,634,000.00 1.00000000 0.00 M-5 0.00 18,544,000.00 1.00000000 0.00 M-6 0.00 17,998,000.00 1.00000000 0.00 M-7 0.00 14,180,000.00 1.00000000 0.00 M-8 0.00 13,090,000.00 1.00000000 0.00 M-9 0.00 10,908,000.00 1.00000000 0.00 B-1 0.00 6,545,000.00 1.00000000 0.00 B-2 0.00 10,908,000.00 1.00000000 0.00 B-3 0.00 8,181,000.00 1.00000000 0.00 CE 0.00 5,454,025.98 0.99998698 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 Totals 1116,~~623~~935,~~500~~264.4885 1,~~071~~054,~~122~~186,~~258~~993.1531 0.~~98195559~~96643012 1116,~~623~~935,~~500~~264.4885

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1A 368,328,000.00 ~~990~~980.~~63783413~~36043779 0.00000000 1023.~~27739634~~16130987 0.00000000 A-1B 92,083,000.00 ~~990~~980.~~63783413~~36043776 0.00000000 1023.~~27739637~~16130991 0.00000000 A-2A 220,000,000.00 ~~982~~951.~~95944000~~63364841 0.00000000 3128.~~32579159~~50701368 0.00000000 A-2B 119,685,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-2C 49,096,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 58,358,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 35,451,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 22,362,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 19,634,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 18,544,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 17,998,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 14,180,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 13,090,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 10,908,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 6,545,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 10,908,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 8,181,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 5,454,097.00 999.98697860 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 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-1A 0.00000000 1023.~~27739634~~16130987 ~~980~~957.~~36043779~~19912792 0.~~98036044~~95719913 1023.~~27739634~~16130987 A-1B 0.00000000 1023.~~27739637~~16130991 ~~980~~957.~~36043776~~19912796 0.~~98036044~~95719913 1023.~~27739637~~16130991 A-2A 0.00000000 3128.~~32579159~~50701368 ~~951~~923.~~63364841~~12663473 0.~~95163365~~92312663 3128.~~32579159~~50701368 A-2B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-2C 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 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 999.98697860 0.99998698 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 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-1A 368,328,000.00 3.~~31000~~53438% ~~364~~361,~~879~~094,~~652~~199.1733 1992,~~107,105~~634.6831 0.00 0.00 A-1B 92,083,000.00 3.~~35000~~57438% 9190,~~220~~274,~~903~~530.6819 ~~280~~250,~~124~~969.1981 0.00 0.00 A-2A 220,000,000.00 3.~~19000~~41438% ~~216~~209,~~251~~359,~~076~~402.8065 ~~632~~555,~~354~~980.1988 0.00 0.00 A-2B 119,685,000.00 3.~~30000~~52438% 119,685,000.00 ~~362~~328,~~047~~078.1366 0.00 0.00 A-2C 49,096,000.00 3.~~41000~~63438% 49,096,000.00 ~~153~~138,~~465~~781.9163 0.00 0.00 M-1 58,358,000.00 3.~~52000~~74438% 58,358,000.00 ~~188~~169,~~301~~955.8174 0.00 0.00 M-2 35,451,000.00 3.~~54000~~76438% 35,451,000.00 ~~115~~103,~~038~~795.5025 0.00 0.00 M-3 22,362,000.00 3.~~56000~~78438% 22,362,000.00 7265,~~974~~820.6646 0.00 0.00 M-4 19,634,000.00 3.~~72000~~94438% 19,634,000.00 6660,~~951~~234.9419 0.00 0.00 M-5 18,544,000.00 3.~~75000~~97438% 18,544,000.00 6357,~~745~~322.0092 0.00 0.00 M-6 17,998,000.00 34.~~78000~~00438% 17,998,000.00 6256,~~363~~055.0709 0.00 0.00 M-7 14,180,000.00 4.~~39000~~61438% 14,180,000.00 5750,~~062~~891.6848 0.00 0.00 M-8 13,090,000.00 4.~~44000~~66438% 13,090,000.00 5347,~~276~~488.3057 0.00 0.00 M-9 10,908,000.00 45.~~89000~~11438% 10,908,000.00 4843,~~895~~390.1140 0.00 0.00 B-1 6,545,000.00 6.~~34000~~56438% 6,545,000.00 3833,~~037~~416.3634 0.00 0.00 B-2 10,908,000.00 6.~~34000~~56438% 10,908,000.00 6355,~~393~~692.6620 0.00 0.00 B-3 8,181,000.00 6.~~34000~~56438% 8,181,000.00 4741,~~545~~769.2415 0.00 0.00 CE 5,454,097.00 0.00000% 1,~~082~~071,~~622~~122,~~625~~258.1516 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,090,805,197.00 3,~~412~~052,~~682~~277.4308 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-1A 0.00 0.00 1992,~~107,105~~634.6831 0.00 ~~361~~352,~~094~~563,~~199~~240.3339 A-1B 0.00 0.00 ~~280~~250,~~124~~969.1981 0.00 9088,~~274~~141,~~530~~767.1930 A-2A 0.00 0.00 ~~632~~555,~~354~~980.1988 0.00 ~~209~~203,~~359~~087,~~402~~859.6564 A-2B 0.00 0.00 ~~362~~328,~~047~~078.1366 0.00 119,685,000.00 A-2C 0.00 0.00 ~~153~~138,~~465~~781.9163 0.00 49,096,000.00 M-1 0.00 0.00 ~~188~~169,~~301~~955.8174 0.00 58,358,000.00 M-2 0.00 0.00 ~~115~~103,~~038~~795.5025 0.00 35,451,000.00 M-3 0.00 0.00 7265,~~974~~820.6646 0.00 22,362,000.00 M-4 0.00 0.00 6660,~~951~~234.9419 0.00 19,634,000.00 M-5 0.00 0.00 6357,~~745~~322.0092 0.00 18,544,000.00 M-6 0.00 0.00 6256,~~363~~055.0709 0.00 17,998,000.00 M-7 0.00 0.00 5750,~~062~~891.6848 0.00 14,180,000.00 M-8 0.00 0.00 5347,~~276~~488.3057 0.00 13,090,000.00 M-9 0.00 0.00 4843,~~895~~390.1140 0.00 10,908,000.00 B-1 0.00 0.00 3833,~~037~~416.3634 0.00 6,545,000.00 B-2 0.00 0.00 6355,~~393~~692.6620 0.00 10,908,000.00 B-3 0.00 0.00 4741,~~545~~769.2415 0.00 8,181,000.00 CE 0.00 0.00 2,~~497~~914,~~954~~539.0110 0.00 1,~~071~~054,~~122~~186,~~258~~993.1631 P 0.00 0.00 ~~135~~247,~~656~~205.3923 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 6,~~046~~214,~~292~~021.8341 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-1A 368,328,000.00 3.~~31000~~53438% ~~990~~980.~~63783413~~36043779 32.~~00576030~~69497380 0.00000000 0.00000000 A-1B 92,083,000.00 3.~~35000~~57438% ~~990~~980.~~63783413~~36043776 32.~~04208366~~72547387 0.00000000 0.00000000 A-2A 220,000,000.00 3.~~19000~~41438% ~~982~~951.~~95944000~~63364841 2.~~87433723~~52718582 0.00000000 0.00000000 A-2B 119,685,000.00 3.~~30000~~52438% 1000.00000000 32.~~02500004~~74118444 0.00000000 0.00000000 A-2C 49,096,000.00 3.~~41000~~63438% 1000.00000000 32.~~12583327~~82674006 0.00000000 0.00000000 M-1 58,358,000.00 3.~~52000~~74438% 1000.00000000 32.~~22666661~~91229549 0.00000000 0.00000000 M-2 35,451,000.00 3.~~54000~~76438% 1000.00000000 32.~~24500014~~92785112 0.00000000 0.00000000 M-3 22,362,000.00 3.~~56000~~78438% 1000.00000000 32.~~26333333~~94340667 0.00000000 0.00000000 M-4 19,634,000.00 3.~~72000~~94438% 1000.00000000 3.~~41000000~~06785118 0.00000000 0.00000000 M-5 18,544,000.00 3.~~75000~~97438% 1000.00000000 3.~~43750000~~09118421 0.00000000 0.00000000 M-6 17,998,000.00 34.~~78000~~00438% 1000.00000000 3.~~46500000~~11451772 0.00000000 0.00000000 M-7 14,180,000.00 4.~~39000~~61438% 1000.00000000 43.~~02416643~~58896192 0.00000000 0.00000000 M-8 13,090,000.00 4.~~44000~~66438% 1000.00000000 43.~~07000000~~62785103 0.00000000 0.00000000 M-9 10,908,000.00 45.~~89000~~11438% 1000.00000000 43.~~48250000~~97785112 0.00000000 0.00000000 B-1 6,545,000.00 6.~~34000~~56438% 1000.00000000 5.~~81166692~~10562872 0.00000000 0.00000000 B-2 10,908,000.00 6.~~34000~~56438% 1000.00000000 5.~~81166667~~10562890 0.00000000 0.00000000 B-3 8,181,000.00 6.~~34000~~56438% 1000.00000000 5.~~81166606~~10562890 0.00000000 0.00000000 CE 5,454,097.00 0.00000% ~~198497~~196388.~~13438357~~56040881 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 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-1A 0.00000000 0.00000000 32.~~00576030~~69497380 0.00000000 ~~980~~957.~~36043779~~19912792 A-1B 0.00000000 0.00000000 32.~~04208366~~72547387 0.00000000 ~~980~~957.~~36043776~~19912796 A-2A 0.00000000 0.00000000 2.~~87433723~~52718582 0.00000000 ~~951~~923.~~63364841~~12663473 A-2B 0.00000000 0.00000000 32.~~02500004~~74118444 0.00000000 1000.00000000 A-2C 0.00000000 0.00000000 32.~~12583327~~82674006 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 32.~~22666661~~91229549 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 32.~~24500014~~92785112 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 32.~~26333333~~94340667 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~41000000~~06785118 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.~~43750000~~09118421 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.~~46500000~~11451772 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 43.~~02416643~~58896192 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 43.~~07000000~~62785103 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 43.~~48250000~~97785112 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 5.~~81166692~~10562872 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 5.~~81166667~~10562890 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 5.~~81166606~~10562890 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~457~~534.~~99589006~~37610296 0.00000000 ~~196388~~193283.~~56040881~~50656580 P 0.00000000 0.00000000 ~~1356563~~2472052.~~90000000~~30000000 0.00000000 1000.00000000 R-1 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 1823,~~042~~245,~~576~~437.9276 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 93211,~~646~~765.4703 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0247,205.0023 Total Deposits 1823,~~136~~704,~~223~~408.3902 Withdrawals Reimbursement for Servicer Advances 093,646.0047 Payment of Service Fee ~~466~~461,~~430~~475.0927 Payment of Interest and Principal 1723,~~669~~149,~~793~~286.3028 Total Withdrawals (Pool Distribution Amount) 1823,~~136~~704,~~223~~408.3902 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~451~~446,~~092~~300.8697 Credit Risk Manager Fee - Murray Hill Company 12,~~630~~496.6244 Master Servicing Fee: Wells Fargo Bank 2,~~706~~677.6186 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~466~~461,~~430~~475.0927

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 ~~6,110~~0.5500 ~~6,110~~0.5500 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 89 0 0 89 ~~606~~651,~~504~~139.5008 0.00 0.00 ~~606~~651,~~504~~139.5008 30 Days 88142 0 0 0 88142 1322,~~671~~761,~~478~~858.8162 0.00 0.00 0.00 1322,~~671~~761,~~478~~858.8162 60 Days 155 0 0 0 155 ~~512~~8,~~800~~948,504.0092 0.00 0.00 0.00 ~~512~~8,~~800~~948,504.0092 90 Days 01 0 0 0 01 0512,800.00 0.00 0.00 0.00 0512,800.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 89198 89 0 0 97207 1432,~~184~~223,~~278~~163.8154 ~~606~~651,~~504~~139.5008 0.00 0.00 1432,~~790~~874,~~783~~302.3162 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.~~118519~~135054% 0.000000% 0.000000% 0.~~118519~~135054% 0.~~056595~~061733% 0.000000% 0.000000% 0.~~056595~~061733% 30 Days 12.~~303704~~130852% 0.000000% 0.000000% 0.000000% 12.~~303704~~130852% 12.~~275729~~158005% 0.000000% 0.000000% 0.000000% 12.~~275729~~158005% 60 Days 0.~~014815~~825330% 0.000000% 0.000000% 0.000000% 0.~~014815~~825330% 0.~~047851~~848389% 0.000000% 0.000000% 0.000000% 0.~~047851~~848389% 90 Days 0.~~000000~~015006% 0.000000% 0.000000% 0.000000% 0.~~000000~~015006% 0.~~000000~~048618% 0.000000% 0.000000% 0.000000% 0.~~000000~~048618% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 12.~~318519~~971188% 0.~~118519~~135054% 0.000000% 0.000000% 13.~~437037~~106242% 13.~~323580~~055011% 0.~~056595~~061733% 0.000000% 0.000000% 13.~~380175~~116744%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I SubGrp I 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 2 0 0 2 129,~~866~~764.6904 0.00 0.00 129,~~866~~764.6904 30 Days 1514 0 0 0 1514 1606,~~111,304~~508.4192 0.00 0.00 0.00 1606,~~111,304~~508.4192 60 Days 011 0 0 0 011 0936,207.00 0.00 0.00 0.00 0936,207.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1525 2 0 0 1727 1,~~111~~542,~~304~~715.4192 129,~~866~~764.6904 0.00 0.00 1,~~241~~672,~~171~~479.1096 0-29 Days 0.~~139665~~141143% 0.000000% 0.000000% 0.~~139665~~141143% 0.~~128794~~129858% 0.000000% 0.000000% 0.~~128794~~129858% 30 Days 10.~~047486~~988003% 0.000000% 0.000000% 0.000000% 10.~~047486~~988003% 10.~~102128~~606950% 0.000000% 0.000000% 0.000000% 10.~~102128~~606950% 60 Days 0.~~000000~~776288% 0.000000% 0.000000% 0.000000% 0.~~000000~~776288% 0.~~000000~~936887% 0.000000% 0.000000% 0.000000% 0.~~000000~~936887% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.~~047486~~764291% 0.~~139665~~141143% 0.000000% 0.000000% 1.~~187151~~905434% 1.~~102128~~543837% 0.~~128794~~129858% 0.000000% 0.000000% 1.~~230922~~673696% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I SubGrp II 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 56 0 0 56 ~~437~~482,~~777~~562.3963 0.00 0.00 ~~437~~482,~~777~~562.3963 30 Days 4496 0 0 0 4496 412,~~623~~321,~~445~~163.0555 0.00 0.00 0.00 412,~~623~~321,~~445~~163.0555 60 Days 027 0 0 0 027 03,014,475.0092 0.00 0.00 0.00 03,014,475.0092 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 44123 56 0 0 49129 415,~~623~~335,~~445~~639.0547 ~~437~~482,~~777~~562.3963 0.00 0.00 515,~~061~~818,~~222~~202.4410 0-29 Days 0.~~148017~~180288% 0.000000% 0.000000% 0.~~148017~~180288% 0.~~090860~~102220% 0.000000% 0.000000% 0.~~090860~~102220% 30 Days 12.~~302546~~884615% 0.000000% 0.000000% 0.000000% 12.~~302546~~884615% 02.~~959585~~609952% 0.000000% 0.000000% 0.000000% 02.~~959585~~609952% 60 Days 0.~~000000~~811298% 0.000000% 0.000000% 0.000000% 0.~~000000~~811298% 0.~~000000~~638547% 0.000000% 0.000000% 0.000000% 0.~~000000~~638547% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 13.~~302546~~695913% 0.~~148017~~180288% 0.000000% 0.000000% 13.~~450562~~876202% 03.~~959585~~248499% 0.~~090860~~102220% 0.000000% 0.000000% 13.~~050445~~350718% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp II SubGrp I 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 1 0 0 1 38,~~860~~812.4241 0.00 0.00 38,~~860~~812.4241 30 Days 75 0 0 0 75 ~~567~~321,~~738~~953.1234 0.00 0.00 0.00 ~~567~~321,~~738~~953.1234 60 Days 03 0 0 0 03 0299,000.00 0.00 0.00 0.00 0299,000.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 78 1 0 0 89 ~~567~~620,~~738~~953.1234 38,~~860~~812.4241 0.00 0.00 ~~606~~659,~~598~~765.5475 0-29 Days 0.~~162075~~164204% 0.000000% 0.000000% 0.~~162075~~164204% 0.~~060731~~061624% 0.000000% 0.000000% 0.~~060731~~061624% 30 Days 10.~~134522~~821018% 0.000000% 0.000000% 0.000000% 10.~~134522~~821018% 0.~~887260~~511174% 0.000000% 0.000000% 0.000000% 0.~~887260~~511174% 60 Days 0.~~000000~~492611% 0.000000% 0.000000% 0.000000% 0.~~000000~~492611% 0.~~000000~~474731% 0.000000% 0.000000% 0.000000% 0.~~000000~~474731% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.~~134522~~313629% 0.~~162075~~164204% 0.000000% 0.000000% 1.~~296596~~477833% 0.~~887260~~985905% 0.~~060731~~061624% 0.000000% 0.000000% 01.~~947991~~047529% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp II SubGrp II 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 2227 0 0 0 2227 79,~~368~~512,~~991~~232.2381 0.00 0.00 0.00 79,~~368~~512,~~991~~232.2381 60 Days 114 0 0 0 114 ~~512~~4,~~800~~698,822.00 0.00 0.00 0.00 ~~512~~4,~~800~~698,822.00 90 Days 01 0 0 0 01 0512,800.00 0.00 0.00 0.00 0512,800.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2342 0 0 0 2342 714,~~881~~723,~~791~~854.2381 0.00 0.00 0.00 714,~~881~~723,~~791~~854.2381 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 12.~~662887~~061069% 0.000000% 0.000000% 0.000000% 12.~~662887~~061069% 12.~~733789~~266059% 0.000000% 0.000000% 0.000000% 12.~~733789~~266059% 60 Days 01.~~075586~~068702% 0.000000% 0.000000% 0.000000% 01.~~075586~~068702% 01.~~120652~~119381% 0.000000% 0.000000% 0.000000% 01.~~120652~~119381% 90 Days 0.~~000000~~076336% 0.000000% 0.000000% 0.000000% 0.~~000000~~076336% 0.~~000000~~122162% 0.000000% 0.000000% 0.000000% 0.~~000000~~122162% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 13.~~738473~~206107% 0.000000% 0.000000% 0.000000% 13.~~738473~~206107% 13.~~854441~~507602% 0.000000% 0.000000% 0.000000% 13.~~854441~~507602%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 93211,~~646~~765.4703

SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class M-1 183,255,197.00 16.79999302% 183,255,125.98 17.~~10870301~~38355028% 5.~~448304~~535830% 0.000000% Class M-2 147,804,197.00 13.55000851% 147,804,125.98 1314.~~79899679~~02067441% 3.~~309706~~362876% 0.000000% Class M-3 125,442,197.00 11.49996327% 125,442,125.98 11.~~71127992~~89941887% 2.~~087717~~121256% 0.000000% Class M-4 105,808,197.00 9.70000852% 105,808,125.98 910.~~87824921~~03694095% 1.~~833031~~862478% 0.000000% Class B-1 24,543,197.00 2.25000734% 24,543,125.98 2.~~29134684~~32815678% 0.~~611041~~620858% 0.000000% Class B-2 13,635,197.00 1.25001210% 13,635,125.98 1.~~27297569~~29342575% 1.~~018371~~034731% 0.000000% Class B-3 5,454,197.00 0.50001568% 5,454,125.98 0.~~50919733~~51737747% 0.~~763778~~776048% 0.000000% Class CE 100.00 0.00000917% 100.00 0.~~00000934~~00000949% 0.~~509188~~517368% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000009% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

REO Detail - All Mortgage Loans in REO during Current Period

~~COLLATERAL~~Summary ~~STATEMENT~~12 ~~Collateral~~Month ~~Description~~REO ~~Fixed~~History* ~~Mixed~~New &REO ~~ARM~~Loans &Month ~~Balloon~~REO ~~Weighted~~Percentage ~~Average~~Loans ~~Gross~~in ~~Coupon~~REO 70 Aug-04 0.~~204948~~000% ~~Weighted~~Original ~~Average~~Principal ~~Net~~Balance ~~Coupon~~0.00 6Sep-04 0.~~682934~~000% ~~Weighted~~Current ~~Average~~Principal ~~Pass~~Balance 0.00 Oct-~~Through~~04 ~~Rate~~0.000% 6Nov-04 0.~~687948~~000% ~~Weighted~~Current ~~Average~~REO ~~Maturity(Stepdown~~Total ~~Calculation)~~Dec-04 ~~348~~0.000% ~~Beginning~~Loans ~~Scheduled~~in ~~Collateral~~REO ~~Loan~~0 ~~Count~~Jan-05 ~~6,491~~0.000% ~~Number~~Original OfPrincipal Balance 0.00 Feb-05 0.000% Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-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. Group I SubGrp I 12 Month REO History* New REO Loans ~~Paid~~Month InREO ~~Full~~Percentage ~~(259)~~Loans ~~Ending~~in ~~Scheduled~~REO ~~Collateral~~0 ~~Loan~~Aug-04 ~~Count~~0.000% ~~6,750~~Original ~~Beginning~~Principal ~~Scheduled~~Balance ~~Collateral~~0.00 Sep-04 0.000% Current Principal Balance ~~1,036,967,910~~0.9700 ~~Ending~~Oct-04 ~~Scheduled~~0.000% ~~Collateral~~Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance ~~1,071,122,258~~0.1600 ~~Ending~~Feb-05 ~~Actual~~0.000% ~~Collateral~~Current Principal Balance at0.00 31Mar-05 0.000% Apr-05 0.000% May-~~2005~~05 ~~1,071,659,759~~0.66000% ~~Monthly~~Jun-05 P&0.000% Jul-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. Group I ~~Constant~~SubGrp ~~7,092,442~~II 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.19000% ~~Special~~Original ~~Servicing~~Principal ~~Fee~~Balance 0.00 ~~Prepayment~~Sep-04 ~~Penalties~~0.000% Current Principal Balance 0.00 ~~Realized~~Oct-04 ~~Loss~~0.000% ~~Amount~~Nov-04 0.00000% ~~Cumulative~~Current ~~Realized~~REO ~~Loss~~Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Scheduled~~Feb-05 0.000% Current Principal ~~592,242~~Balance 0.3500 ~~Unscheduled~~Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-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. Grp II SubGrp I 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal ~~10,908,124~~Balance 0.6400 ~~Required~~Sep-04 ~~Overcollateralization~~0.000% ~~Amount~~Current Principal Balance 0.00 ~~Overcollateralized~~Oct-04 ~~Increase~~0.000% ~~Amount~~Nov-04 ~~123,133~~0.48000% ~~Overcollateralized~~Current ~~reduction~~REO ~~Amount~~Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Specified~~Feb-05 ~~O/C~~0.000% ~~Amount~~Current ~~5,454,025~~Principal Balance 0.9800 ~~Overcollateralized~~Mar-05 ~~Amount~~0.000% ~~5,454,025~~Apr-05 0.98000% ~~Overcollateralized~~May-05 ~~Deficiency~~0.000% ~~Amount~~Jun-05 0.000% Jul-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. Grp II SubGrp II 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal Balance 0.00 ~~Base~~Sep-04 ~~Overcollateralized~~0.000% ~~Amount~~Current Principal Balance 0.00 ~~Extra~~Oct-04 ~~principal~~0.000% ~~distribution~~Nov-04 ~~Amount~~0.000% ~~123,133~~Current REO Total Dec-04 0.48000% ~~Excess~~Loans ~~Cash~~in ~~Amount~~REO 0 Jan-05 0.000% Original Principal Balance 0.00 Feb-05 0.000% Current Principal Balance 0.00 Mar-05 0.000% Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-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.

~~Group~~REO Level Collateral Statement Group Group I SubGrp I Group I SubGrp II Grp II SubGrp I Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 8.548724 7.239667 8.377774 Weighted Average Net Rate 8.019719 6.704160 7.855142 Weighted Average Maturity 294 358 358 Beginning Loan ~~Count~~Detail ~~1,388~~- ~~3,177~~All ~~605~~Mortgage Loans ~~Paid~~in InREO ~~Full~~during ~~(44)~~Current ~~(201)~~Period ~~(12)~~Month ~~Ending~~ Loan ~~Count~~First ~~1,432~~Original ~~3,378~~Loan ~~617~~Entered ~~Beginning~~Payment ~~Scheduled~~LTV ~~Balance~~at ~~95,754,794.56~~Principal ~~453,468,992.51~~Group ~~61,802,351.64~~Number ~~Ending~~REO ~~Scheduled Balance 100,765,682.05 481,534,691.06 63,951,088.33 Record~~ Date ~~05/31/2005~~State ~~05/31/2005~~Origination ~~05/31/2005~~Balance ~~Principal~~No ~~And~~REO ~~Interest~~loans ~~Constant~~this ~~800,401~~period.03 3,236,778.57 493,950.85 Scheduled Principal 78,677.36 306,689.62 42,949.28 Unscheduled Principal 465,304.59 3,831,028.18 605,682.16 Scheduled Interest 721,723.67 2,930,088.95 451,001.57 Servicing Fees 42,212.37 202,363.52 26,916.59 Master Servicing Fees 253.29 1,214.21 161.51 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 1,181.94 5,666.22 753.67 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 678,076.07 2,720,845.00 423,169.80 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 8.031724 6.722667 7.860774

~~Group~~REO ~~Level~~Loan ~~Collateral~~Detail ~~Statement~~- ~~Group~~All ~~Grp~~Mortgage IILoans ~~SubGrp~~in IIREO ~~Total~~during ~~Collateral~~Current ~~Description~~Period ~~Mixed~~(continued) ~~ARM~~Current ~~Fixed~~Paid ~~Mixed~~Current &Approximate ~~ARM & Balloon Weighted Average Coupon Rate 6.674223 7.204948 Weighted Average Net Rate 6.168238 6.682934 Weighted Average Maturity 292 348 Beginning~~ Loan ~~Count~~Principal ~~1,321~~To ~~6,491~~Months ~~Loans Paid In Full (2) (259) Ending~~ Loan ~~Count~~Delinquent ~~1,323~~Group ~~6,750~~Number ~~Beginning Scheduled~~ Balance ~~425,941,772.26 1,036,967,910.97 Ending scheduled Balance 424,870,796.72 1,071,122,258.16 Record~~ Date ~~05/31/2005~~Delinquent ~~05/31/2005~~Rate ~~Principal And~~ Interest ~~Constant~~No ~~2,561,311.74~~REO ~~7,092,442.19~~loans ~~Scheduled~~this ~~Principal 163,926~~period.09 592,242.35 Unscheduled Principal 6,006,109.71 10,908,124.64 Scheduled Interest 2,397,385.65 6,500,199.84 Servicing Fees 179,600.38 451,092.86 Master Servicing Fees 1,077.60 2,706.61 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 5,028.79 12,630.62 Pool Insurance Fee 0.00 0.00 Spread 1 0.00 0.00 Spread 2 0.00 0.00 Spread 3 0.00 0.00 Net Interest 2,211,678.88 6,033,769.75 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.157223 6.687948

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Prepayment - Voluntary Prepayments

Realized Loss Report - Collateral Summary

Filing Compare · ACE Securities Corp Home Equity Trust 2005-HE3