8-K 1 ace05he1_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-HE1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-119047-05 Pooling and Servicing Agreement) (Commission 54-2165618 (State or other File Number) 54-2165619 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On July 25, 2005 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2005-HE1 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-HE1 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-HE1 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-HE1 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-HE1 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 004421KP7 SEN 3.~~33000~~55438% ~~679~~654,~~737~~296,~~057~~731.4809 21,~~074~~808,~~897~~814.3795 A-1B 004421KQ5 SEN 3.~~38000~~60438% ~~169~~163,~~934~~574,~~497~~407.3806 ~~526~~458,~~513~~565.7258 A-2A 004421KR3 SEN 3.~~21000~~43438% ~~165~~153,~~602~~393,~~395~~347.0198 ~~487~~409,~~285~~741.0592 A-2B 004421KS1 SEN 3.~~32000~~54438% 60,016,000.00 ~~182~~165,~~648~~448.6951 A-2C 004421KT9 SEN 3.~~44000~~66438% 47,430,000.00 ~~149~~135,~~562~~178.6098 M-1 004421KU6 SEN 3.~~57000~~79438% 58,509,000.00 ~~191~~172,~~470~~670.7085 M-2 004421KV4 SEN 3.~~59000~~81438% 49,271,000.00 ~~162~~146,~~142~~174.6525 M-3 004421KW2 SEN 3.~~64000~~86438% 30,024,000.00 ~~100~~90,~~180~~241.0800 M-4 004421KX0 SEN 34.~~81000~~03438% 29,255,000.00 ~~102~~91,~~173~~797.0983 M-5 004421KY8 SEN 34.~~87000~~09438% 36,953,000.00 ~~131~~117,~~090~~677.7749 M-6 004421KZ5 SEN 34.~~94000~~16438% 20,016,000.00 7264,~~291~~831.1207 M-7 004421LA9 SEN 4.~~37000~~59438% 15,397,000.00 6155,~~677~~019.8274 M-8 004421LB7 SEN 4.~~47000~~69438% 19,246,000.00 7870,~~860~~270.4970 M-9 004421LC5 SEN 5.~~29000~~51438% 18,477,000.00 8979,~~598~~247.0515 B-1 004421LD3 SEN 6.~~34000~~56438% 25,405,000.00 ~~147~~129,~~645~~708.3950 B-2 004421LE1 SEN 6.~~34000~~56438% 21,556,000.00 ~~125~~110,~~276~~056.2994 CE ACE05HE1CE SEN 0.00000% 10,778,018.64 3,~~429~~758,~~056~~285.8510 CE-1 ACE05HE1CE1 SEN 0.00000% 0.00 18,~~865~~181.3391 P ACE05HE1P SEN 0.00000% 100.00 ~~862~~804,~~125~~600.2114 R ACE5HE1R1 SEN 0.00000% 0.00 0.00 Totals 1,~~457~~413,~~607~~597,~~068~~604.5177 8,~~993~~686,~~361~~512.2761

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1A 2528,~~440~~808,~~326~~465.3963 0.00 ~~654~~625,~~296~~488,~~731~~265.0946 2730,~~515~~617,~~223~~280.7658 0.00 A-1B 67,~~360~~202,~~090~~126.3228 0.00 ~~163~~156,~~574~~372,~~407~~280.0678 67,~~886~~660,~~604~~691.0486 0.00 A-2A 127,~~209~~930,~~047~~119.0345 0.00 ~~153~~145,~~393~~463,~~347~~228.9853 128,~~696~~339,~~332~~861.0837 0.00 A-2B 0.00 0.00 60,016,000.00 ~~182~~165,~~648~~448.6951 0.00 A-2C 0.00 0.00 47,430,000.00 ~~149~~135,~~562~~178.6098 0.00 M-1 0.00 0.00 58,509,000.00 ~~191~~172,~~470~~670.7085 0.00 M-2 0.00 0.00 49,271,000.00 ~~162~~146,~~142~~174.6525 0.00 M-3 0.00 0.00 30,024,000.00 ~~100~~90,~~180~~241.0800 0.00 M-4 0.00 0.00 29,255,000.00 ~~102~~91,~~173~~797.0983 0.00 M-5 0.00 0.00 36,953,000.00 ~~131~~117,~~090~~677.7749 0.00 M-6 0.00 0.00 20,016,000.00 7264,~~291~~831.1207 0.00 M-7 0.00 0.00 15,397,000.00 6155,~~677~~019.8274 0.00 M-8 0.00 0.00 19,246,000.00 7870,~~860~~270.4970 0.00 M-9 0.00 0.00 18,477,000.00 8979,~~598~~247.0515 0.00 B-1 0.00 0.00 25,405,000.00 ~~147~~129,~~645~~708.3950 0.00 B-2 0.00 0.00 21,556,000.00 ~~125~~110,~~276~~056.2994 0.00 CE 0.00 0.00 10,778,018.64 3,~~429~~758,~~056~~285.8510 0.00 CE-1 0.00 0.00 0.00 18,~~865~~181.3391 0.00 P 0.00 0.00 100.00 ~~862~~804,~~125~~600.2114 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 4443,~~009~~940,~~463~~711.7436 0.00 1,~~413~~369,~~597~~656,~~604~~893.7741 5352,~~002~~627,~~825~~223.0197 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 729,291,000.00 ~~679~~654,~~737~~296,~~057~~731.4809 0.00 2528,~~440~~808,~~326~~465.3963 0.00 0.00 A-1B 182,323,000.00 ~~169~~163,~~934~~574,~~497~~407.3806 0.00 67,~~360~~202,~~090~~126.3228 0.00 0.00 A-2A 185,769,000.00 ~~165~~153,~~602~~393,~~395~~347.0198 0.00 127,~~209~~930,~~047~~119.0345 0.00 0.00 A-2B 60,016,000.00 60,016,000.00 0.00 0.00 0.00 0.00 A-2C 47,430,000.00 47,430,000.00 0.00 0.00 0.00 0.00 M-1 58,509,000.00 58,509,000.00 0.00 0.00 0.00 0.00 M-2 49,271,000.00 49,271,000.00 0.00 0.00 0.00 0.00 M-3 30,024,000.00 30,024,000.00 0.00 0.00 0.00 0.00 M-4 29,255,000.00 29,255,000.00 0.00 0.00 0.00 0.00 M-5 36,953,000.00 36,953,000.00 0.00 0.00 0.00 0.00 M-6 20,016,000.00 20,016,000.00 0.00 0.00 0.00 0.00 M-7 15,397,000.00 15,397,000.00 0.00 0.00 0.00 0.00 M-8 19,246,000.00 19,246,000.00 0.00 0.00 0.00 0.00 M-9 18,477,000.00 18,477,000.00 0.00 0.00 0.00 0.00 B-1 25,405,000.00 25,405,000.00 0.00 0.00 0.00 0.00 B-2 21,556,000.00 21,556,000.00 0.00 0.00 0.00 0.00 CE 10,778,849.00 10,778,018.64 0.00 0.00 0.00 0.00 CE-1 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,539,716,949.00 1,~~457~~413,~~607~~597,~~068~~604.5177 0.00 4443,~~009~~940,~~463~~711.7436 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 2528,~~440~~808,~~326~~465.3963 ~~654~~625,~~296~~488,~~731~~265.0946 0.~~89716825~~85766623 2528,~~440~~808,~~326~~465.3963 A-1B 67,~~360~~202,~~090~~126.3228 ~~163~~156,~~574~~372,~~407~~280.0678 0.~~89716825~~85766623 67,~~360~~202,~~090~~126.3228 A-2A 127,~~209~~930,~~047~~119.0345 ~~153~~145,~~393~~463,~~347~~228.9853 0.~~82572091~~78303284 127,~~209~~930,~~047~~119.0345 A-2B 0.00 60,016,000.00 1.00000000 0.00 A-2C 0.00 47,430,000.00 1.00000000 0.00 M-1 0.00 58,509,000.00 1.00000000 0.00 M-2 0.00 49,271,000.00 1.00000000 0.00 M-3 0.00 30,024,000.00 1.00000000 0.00 M-4 0.00 29,255,000.00 1.00000000 0.00 M-5 0.00 36,953,000.00 1.00000000 0.00 M-6 0.00 20,016,000.00 1.00000000 0.00 M-7 0.00 15,397,000.00 1.00000000 0.00 M-8 0.00 19,246,000.00 1.00000000 0.00 M-9 0.00 18,477,000.00 1.00000000 0.00 B-1 0.00 25,405,000.00 1.00000000 0.00 B-2 0.00 21,556,000.00 1.00000000 0.00 CE 0.00 10,778,018.64 0.99992296 0.00 CE-1 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 4443,~~009~~940,~~463~~711.7436 1,~~413~~369,~~597~~656,~~604~~893.7741 0.~~91808927~~88955109 4443,~~009~~940,~~463~~711.7436

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1A 729,291,000.00 ~~932~~897.~~05189352~~16825121 0.00000000 3439.~~88364232~~50201721 0.00000000 A-1B 182,323,000.00 ~~932~~897.~~05189351~~16825118 0.00000000 3439.~~88364233~~50201719 0.00000000 A-2A 185,769,000.00 ~~891~~825.~~44257120~~72091135 0.00000000 6542.~~72165986~~68806663 0.00000000 A-2B 60,016,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-2C 47,430,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 58,509,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 49,271,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 30,024,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 29,255,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 36,953,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 20,016,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 15,397,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 19,246,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 18,477,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 25,405,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 21,556,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 10,778,849.00 999.92296395 0.00000000 0.00000000 0.00000000 CE-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1A 0.00000000 3439.~~88364232~~50201721 ~~897~~857.~~16825121~~66623400 0.~~89716825~~85766623 3439.~~88364232~~50201721 A-1B 0.00000000 3439.~~88364233~~50201719 ~~897~~857.~~16825118~~66623399 0.~~89716825~~85766623 3439.~~88364233~~50201719 A-2A 0.00000000 6542.~~72165986~~68806663 ~~825~~783.~~72091135~~03284472 0.~~82572091~~78303284 6542.~~72165986~~68806663 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 CE 0.00000000 0.00000000 999.92296395 0.99992296 0.00000000 CE-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1A 729,291,000.00 3.~~33000~~55438% ~~679~~654,~~737~~296,~~057~~731.4809 21,~~074~~808,~~897~~814.3795 0.00 0.00 A-1B 182,323,000.00 3.~~38000~~60438% ~~169~~163,~~934~~574,~~497~~407.3806 ~~526~~458,~~513~~565.7258 0.00 0.00 A-2A 185,769,000.00 3.~~21000~~43438% ~~165~~153,~~602~~393,~~395~~347.0198 ~~487~~409,~~285~~741.0592 0.00 0.00 A-2B 60,016,000.00 3.~~32000~~54438% 60,016,000.00 ~~182~~165,~~648~~448.6951 0.00 0.00 A-2C 47,430,000.00 3.~~44000~~66438% 47,430,000.00 ~~149~~135,~~562~~178.6098 0.00 0.00 M-1 58,509,000.00 3.~~57000~~79438% 58,509,000.00 ~~191~~172,~~470~~670.7085 0.00 0.00 M-2 49,271,000.00 3.~~59000~~81438% 49,271,000.00 ~~162~~146,~~142~~174.6525 0.00 0.00 M-3 30,024,000.00 3.~~64000~~86438% 30,024,000.00 ~~100~~90,~~180~~241.0800 0.00 0.00 M-4 29,255,000.00 34.~~81000~~03438% 29,255,000.00 ~~102~~91,~~173~~797.0983 0.00 0.00 M-5 36,953,000.00 34.~~87000~~09438% 36,953,000.00 ~~131~~117,~~090~~677.7749 0.00 0.00 M-6 20,016,000.00 34.~~94000~~16438% 20,016,000.00 7264,~~291~~831.1207 0.00 0.00 M-7 15,397,000.00 4.~~37000~~59438% 15,397,000.00 6155,~~677~~019.8274 0.00 0.00 M-8 19,246,000.00 4.~~47000~~69438% 19,246,000.00 7870,~~860~~270.4970 0.00 0.00 M-9 18,477,000.00 5.~~29000~~51438% 18,477,000.00 8979,~~598~~247.0515 0.00 0.00 B-1 25,405,000.00 6.~~34000~~56438% 25,405,000.00 ~~147~~129,~~645~~708.3950 0.00 0.00 B-2 21,556,000.00 6.~~34000~~56438% 21,556,000.00 ~~125~~110,~~276~~056.2994 0.00 0.00 CE 10,778,849.00 0.00000% 1,~~457~~413,~~607~~597,~~068~~604.5177 0.00 0.00 0.00 CE-1 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,539,716,949.00 4,~~683~~105,~~313~~445.8846 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 21,~~074~~808,~~897~~814.3795 0.00 ~~654~~625,~~296~~488,~~731~~265.0946 A-1B 0.00 0.00 ~~526~~458,~~513~~565.7258 0.00 ~~163~~156,~~574~~372,~~407~~280.0678 A-2A 0.00 0.00 ~~487~~409,~~285~~741.0592 0.00 ~~153~~145,~~393~~463,~~347~~228.9853 A-2B 0.00 0.00 ~~182~~165,~~648~~448.6951 0.00 60,016,000.00 A-2C 0.00 0.00 ~~149~~135,~~562~~178.6098 0.00 47,430,000.00 M-1 0.00 0.00 ~~191~~172,~~470~~670.7085 0.00 58,509,000.00 M-2 0.00 0.00 ~~162~~146,~~142~~174.6525 0.00 49,271,000.00 M-3 0.00 0.00 ~~100~~90,~~180~~241.0800 0.00 30,024,000.00 M-4 0.00 0.00 ~~102~~91,~~173~~797.0983 0.00 29,255,000.00 M-5 0.00 0.00 ~~131~~117,~~090~~677.7749 0.00 36,953,000.00 M-6 0.00 0.00 7264,~~291~~831.1207 0.00 20,016,000.00 M-7 0.00 0.00 6155,~~677~~019.8274 0.00 15,397,000.00 M-8 0.00 0.00 7870,~~860~~270.4970 0.00 19,246,000.00 M-9 0.00 0.00 8979,~~598~~247.0515 0.00 18,477,000.00 B-1 0.00 0.00 ~~147~~129,~~645~~708.3950 0.00 25,405,000.00 B-2 0.00 0.00 ~~125~~110,~~276~~056.2994 0.00 21,556,000.00 CE 0.00 0.00 3,~~429~~758,~~056~~285.8510 0.00 1,~~413~~369,~~597~~656,~~604~~893.7741 CE-1 0.00 0.00 18,~~865~~181.3391 0.00 0.00 P 0.00 0.00 ~~862~~804,~~125~~600.2114 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 8,~~993~~686,~~361~~512.2761 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 729,291,000.00 3.~~33000~~55438% ~~932~~897.~~05189352~~16825121 2.~~84508841~~48023759 0.00000000 0.00000000 A-1B 182,323,000.00 3.~~38000~~60438% ~~932~~897.~~05189351~~16825118 2.~~88780746~~51512744 0.00000000 0.00000000 A-2A 185,769,000.00 3.~~21000~~43438% ~~891~~825.~~44257120~~72091135 2.~~62306978~~20565283 0.00000000 0.00000000 A-2B 60,016,000.00 3.~~32000~~54438% 1000.00000000 32.~~04333328~~75674004 0.00000000 0.00000000 A-2C 47,430,000.00 3.~~44000~~66438% 1000.00000000 32.~~15333333~~85007337 0.00000000 0.00000000 M-1 58,509,000.00 3.~~57000~~79438% 1000.00000000 32.~~27249996~~95118443 0.00000000 0.00000000 M-2 49,271,000.00 3.~~59000~~81438% 1000.00000000 32.~~29083335~~96674007 0.00000000 0.00000000 M-3 30,024,000.00 3.~~64000~~86438% 1000.00000000 3.~~33666667~~00562883 0.00000000 0.00000000 M-4 29,255,000.00 34.~~81000~~03438% 1000.00000000 3.~~49250009~~13785097 0.00000000 0.00000000 M-5 36,953,000.00 34.~~87000~~09438% 1000.00000000 3.~~54750007~~18451790 0.00000000 0.00000000 M-6 20,016,000.00 34.~~94000~~16438% 1000.00000000 3.~~61166667~~23896233 0.00000000 0.00000000 M-7 15,397,000.00 4.~~37000~~59438% 1000.00000000 43.~~00583360~~57340651 0.00000000 0.00000000 M-8 19,246,000.00 4.~~47000~~69438% 1000.00000000 43.~~09750026~~65118466 0.00000000 0.00000000 M-9 18,477,000.00 5.~~29000~~51438% 1000.00000000 4.~~84916653~~28896195 0.00000000 0.00000000 B-1 25,405,000.00 6.~~34000~~56438% 1000.00000000 5.~~81166660~~10562881 0.00000000 0.00000000 B-2 21,556,000.00 6.~~34000~~56438% 1000.00000000 5.~~81166682~~10562906 0.00000000 0.00000000 CE 10,778,849.00 0.00000% ~~135228~~131145.~~45236166~~50586709 0.00000000 0.00000000 0.00000000 CE-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1A 0.00000000 0.00000000 2.~~84508841~~48023759 0.00000000 ~~897~~857.~~16825121~~66623400 A-1B 0.00000000 0.00000000 2.~~88780746~~51512744 0.00000000 ~~897~~857.~~16825118~~66623399 A-2A 0.00000000 0.00000000 2.~~62306978~~20565283 0.00000000 ~~825~~783.~~72091135~~03284472 A-2B 0.00000000 0.00000000 32.~~04333328~~75674004 0.00000000 1000.00000000 A-2C 0.00000000 0.00000000 32.~~15333333~~85007337 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 32.~~27249996~~95118443 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 32.~~29083335~~96674007 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~33666667~~00562883 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~49250009~~13785097 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.~~54750007~~18451790 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.~~61166667~~23896233 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 43.~~00583360~~57340651 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 43.~~09750026~~65118466 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 4.~~84916653~~28896195 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 5.~~81166660~~10562881 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 5.~~81166682~~10562906 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~318~~348.~~12829459~~67220981 0.00000000 ~~131145~~127068.~~50586709~~93782536 CE-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~8621252~~8046001.~~10000000~~40000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 5352,~~273~~368,~~237~~682.7698 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~335~~376,~~063~~313.5951 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~862~~804,~~125~~600.2114 Total Deposits 5453,~~470~~549,~~426~~596.5663 Withdrawals Reimbursement for Servicer Advances 0335,063.0059 Payment of Service Fee ~~605~~587,~~476~~309.3607 Payment of Interest and Principal 5352,~~002~~627,~~825~~223.0197 Total Withdrawals (Pool Distribution Amount) 53,~~608~~549,~~301~~596.3763 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~588~~570,~~470~~817.9509 Credit Risk Manager Fee - The Murrayhill Company 1716,~~005~~491.4198 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~605~~587,~~476~~309.3607

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 ~~10,808~~0.8600 ~~10,808~~0.8600 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 1615 1 0 1716 1,~~905~~796,~~225~~299.3480 258,~~933~~751.5059 0.00 2,~~164~~055,~~158~~051.8439 30 Days ~~154~~139 53 0 0 ~~159~~142 2221,~~824~~211,~~486~~905.7208 ~~639~~183,~~426~~311.5314 0.00 0.00 2321,~~463~~395,~~913~~216.2522 60 Days 5895 14 10 0 6099 913,~~599~~806,~~530~~129.2625 ~~141~~627,~~902~~502.6862 ~~322,999~~0.4100 0.00 1014,~~064~~433,~~432~~631.3587 90 Days 6745 1 2 23 0 9248 107,~~582~~720,~~876~~287.5060 ~~413~~141,~~152~~902.7668 4172,~~382,521~~609.2284 0.00 158,~~378~~034,~~550~~800.4812 120 Days 151 04 017 0 172 ~~208~~8,~~250~~707,523.0067 0511,470.0016 02,750,809.0098 0.00 ~~208~~11,~~250~~969,803.0081 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 ~~280~~330 2427 2520 0 ~~329~~377 4351,~~215~~445,~~143~~845.4860 3,~~099~~260,~~707~~486.3140 43,~~964~~182,~~454~~171.1341 0.00 5157,~~279~~888,~~304~~503.9241 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.~~189708~~183061% 0.~~011857~~012204% 0.000000% 0.~~201565~~195265% 0.~~134737~~131107% 0.~~018312~~018886% 0.000000% 0.~~153048~~149993% 30 Days 1.~~825943~~696363% 0.~~059284~~036612% 0.000000% 0.000000% 1.~~885226~~732975% 1.~~614138~~548201% 0.~~045220~~013379% 0.000000% 0.000000% 1.~~659358~~561581% 60 Days 01.~~687693~~159385% 0.~~011857~~048816% 0.~~011857~~000000% 0.000000% 01.~~711406~~208201% 01.~~678875~~007673% 0.~~010035~~045800% 0.~~022842~~000000% 0.000000% 01.~~711752~~053473% 90 Days 0.~~794404~~549182% 0.~~023714~~012204% 0.~~272706~~024408% 0.000000% 10.~~090823~~585794% 0.~~748417~~563484% 0.~~029218~~010357% 0.~~309930~~012598% 0.000000% 10.~~087565~~586439% 120 Days 0.~~011857~~622407% 0.~~000000~~048816% 0.~~000000~~207469% 0.000000% 0.~~011857~~878692% 0.~~014727~~635539% 0.~~000000~~037331% 0.~~000000~~200774% 0.000000% 0.~~014727~~873645% 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 34.~~319896~~027337% 0.~~284562~~329509% 0.~~296419~~244081% 0.000000% 34.~~900877~~600928% 3.~~056157~~754897% 0.~~219210~~237974% 0.~~351084~~232258% 0.000000% 34.~~626451~~225130%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 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 109 1 0 1110 1,~~597~~489,~~963~~245.7372 258,~~933~~751.5059 0.00 1,~~856~~747,~~897~~997.2331 30 Days ~~112~~99 31 0 0 ~~115~~100 1716,~~085~~301,~~827~~910.6702 ~~616~~107,~~308~~485.7667 0.00 0.00 1716,~~702~~409,~~136~~395.4369 60 Days 3668 13 10 0 3871 510,~~919~~396,~~432~~005.7562 ~~141~~616,~~902~~308.6876 ~~322,999~~0.4100 0.00 611,~~384~~012,~~334~~314.8438 90 Days 4927 1 2 16 0 6730 94,~~697~~819,~~445~~750.3037 ~~413~~141,~~152~~902.7668 2172,~~880,360~~609.1884 0.00 125,~~990~~134,~~958~~262.2489 120 Days 137 03 014 0 154 ~~208~~7,~~250~~934,513.0070 0491,845.0057 02,126,023.0025 0.00 ~~208~~10,~~250~~552,382.0052 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 ~~198~~231 1617 1817 0 ~~232~~265 3239,~~910~~452,~~955~~179.7271 2,~~769~~846,~~327~~788.9340 32,~~462~~557,~~293~~384.0968 0.00 3944,~~142~~856,~~576~~352.7479 0-29 Days 0.~~204708~~189833% 0.~~020471~~021093% 0.000000% 0.~~225179~~210926% 0.~~179187~~173007% 0.~~029035~~030059% 0.000000% 0.~~208223~~203067% 30 Days 2.~~292733~~088167% 0.~~061412~~021093% 0.000000% 0.000000% 2.~~354145~~109260% 1.~~915915~~893809% 0.~~069110~~012487% 0.000000% 0.000000% 1.~~985024~~906295% 60 Days 01.~~736950~~434297% 0.~~020471~~063278% 0.~~020471~~000000% 0.000000% 01.~~777892~~497574% 01.~~663774~~207714% 0.~~015912~~071597% 0.~~036219~~000000% 0.000000% 01.~~715906~~279311% 90 Days 10.~~003071~~569500% 0.~~040942~~021093% 0.~~327533~~042185% 0.000000% 10.~~371546~~632778% 10.~~087420~~559915% 0.~~046329~~016485% 0.~~322988~~020052% 0.000000% 10.~~456737~~596452% 120 Days 0.~~020471~~780426% 0.~~000000~~063278% 0.~~000000~~295296% 0.000000% 01.~~020471~~139000% 0.~~023352~~921760% 0.~~000000~~057138% 0.~~000000~~246982% 0.000000% 01.~~023352~~225881% 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 4.~~053224~~872390% 0.~~327533~~358574% 0.~~368475~~358574% 0.000000% 45.~~749232~~589538% 34.~~690461~~583198% 0.~~310538~~330714% 0.~~388243~~297094% 0.000000% 45.~~389242~~211006% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 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 5 0 0 5 212,~~505~~333.3896 0.00 0.00 212,~~505~~333.3896 30 Days 3231 2 0 0 3433 1,~~780~~713,~~846~~193.9171 2375,~~117~~825.7747 0.00 0.00 1,~~803~~789,~~964~~019.6818 60 Days 1422 01 0 0 1423 ~~936~~1,~~901~~489,899.2106 011,193.0086 0.00 0.00 ~~936~~1,~~901~~501,092.2192 90 Days 1813 0 20 0 2013 ~~885~~833,~~431~~156.2016 0.00 ~~157,591~~0.5800 0.00 1833,~~043,022~~156.7816 120 Days 014 01 02 0 017 0773,009.0097 019,624.0059 0113,267.0088 0.00 0905,902.0044 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 6480 79 2 0 7391 34,~~603~~809,~~179~~258.3290 ~~235~~318,~~623~~977.1588 ~~157~~113,~~591~~267.5888 0.00 35,~~996~~241,~~394~~504.0566 0-29 Days 0.~~197550~~203004% 0.000000% 0.000000% 0.~~197550~~203004% 0.~~118171~~121460% 0.000000% 0.000000% 0.~~118171~~121460% 30 Days 1.~~264322~~258628% 0.~~079020~~081202% 0.000000% 0.000000% 1.~~343343~~339829% 0.~~990303~~979988% 0.~~012855~~043374% 0.000000% 0.000000% 1.~~003158~~023362% 60 Days 0.~~553141~~893220% 0.~~000000~~040601% 0.000000% 0.000000% 0.~~553141~~933821% 0.~~520997~~852258% 0.~~000000~~006403% 0.000000% 0.000000% 0.~~520997~~858661% 90 Days 0.~~711181~~527812% 0.000000% 0.~~079020~~000000% 0.000000% 0.~~790202~~527812% 0.~~492375~~476585% 0.000000% 0.~~087634~~000000% 0.000000% 0.~~580010~~476585% 120 Days 0.~~000000~~568413% 0.~~000000~~040601% 0.~~000000~~081202% 0.000000% 0.~~000000~~690215% 0.~~000000~~442180% 0.~~000000~~011226% 0.~~000000~~064792% 0.000000% 0.~~000000~~518198% 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 23.~~528645~~248071% 0.~~276571~~365408% 0.~~079020~~081202% 0.000000% 23.~~884235~~694681% 2.~~003675~~751010% 0.~~131027~~182463% 0.~~087634~~064792% 0.000000% 2.~~222336~~998265% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 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 76 0 0 0 76 32,~~182~~869,~~448~~871.0240 0.00 0.00 0.00 32,~~182~~869,~~448~~871.0240 60 Days 54 0 0 0 54 21,~~427~~842,~~111~~328.8997 0.00 0.00 0.00 21,~~427~~842,~~111~~328.8997 90 Days 4 0 0 3 0 34 1,948,498.61 0.00 0.00 ~~1,301,232.35~~ 0.00 1,~~301~~948,~~232~~498.3561 120 Days 0 0 01 0 01 0.00 0.00 0511,518.0085 0.00 0511,518.0085 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 1214 0 31 0 15 56,~~609~~660,~~559~~698.9198 0.00 1511,~~301,232~~518.3585 0.00 67,~~910~~172,~~792~~217.2683 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~118211~~981997% 0.000000% 0.000000% 0.000000% 10.~~118211~~981997% 1.~~100781~~016553% 0.000000% 0.000000% 0.000000% 1.~~100781~~016553% 60 Days 0.~~798722~~654664% 0.000000% 0.000000% 0.000000% 0.~~798722~~654664% 0.~~839517~~652582% 0.000000% 0.000000% 0.000000% 0.~~839517~~652582% 90 Days 0.~~000000~~654664% 0.000000% 0.~~479233~~000000% 0.000000% 0.~~479233~~654664% 0.~~000000~~690189% 0.000000% 0.~~450085~~000000% 0.000000% 0.~~450085~~690189% 120 Days 0.000000% 0.000000% 0.~~000000~~163666% 0.000000% 0.~~000000~~163666% 0.000000% 0.000000% 0.~~000000~~181188% 0.000000% 0.~~000000~~181188% 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.~~916933~~291326% 0.000000% 0.~~479233~~163666% 0.000000% 2.~~396166~~454992% 12.~~940298~~359323% 0.000000% 0.~~450085~~181188% 0.000000% 2.~~390383~~540511% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 94,~~756~~720.2312 0.00 0.00 94,~~756~~720.2312 30 Days 3 0 0 0 3 ~~775~~326,~~364~~929.1295 0.00 0.00 0.00 ~~775~~326,~~364~~929.1295 60 Days 31 0 0 0 31 ~~316~~77,~~084~~895.4160 0.00 0.00 0.00 ~~316~~77,~~084~~895.4160 90 Days 1 0 0 2 0 21 118,882.46 0.00 0.00 ~~43,337.11~~ 0.00 43118,~~337~~882.1146 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 65 1 20 0 96 1523,~~091,448~~708.5301 94,~~756~~720.2312 ~~43,337~~0.1100 0.00 1618,~~229,541~~428.8713 0-29 Days 0.~~255102~~263852% 0.000000% 0.000000% 0.~~255102~~263852% 0.~~177731~~181568% 0.000000% 0.000000% 0.~~177731~~181568% 30 Days 0.~~765306~~791557% 0.000000% 0.000000% 0.000000% 0.~~765306~~791557% 10.~~454322~~626688% 0.000000% 0.000000% 0.000000% 10.~~454322~~626688% 60 Days 0.~~765306~~263852% 0.000000% 0.000000% 0.000000% 0.~~765306~~263852% 0.~~592868~~149317% 0.000000% 0.000000% 0.000000% 0.~~592868~~149317% 90 Days 0.~~000000~~263852% 0.000000% 0.~~510204~~000000% 0.000000% 0.~~510204~~263852% 0.~~000000~~227884% 0.000000% 0.~~081286~~000000% 0.000000% 0.~~081286~~227884% 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.~~530612~~319261% 0.~~255102~~263852% 0.~~510204~~000000% 0.000000% 21.~~295918~~583113% 21.~~047190~~003889% 0.~~177731~~181568% 0.~~081286~~000000% 0.000000% 21.~~306206~~185457%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~335~~376,~~063~~313.5951

SUBORDINATION LEVEL/CREDIT ENHANCEMENT/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class M-1 276,378,949.00 17.94998419% 276,378,118.64 1920.~~55139976~~17863890% 4.~~139014~~271800% 0.000000% Class M-2 227,107,949.00 14.74998045% 227,107,118.64 16.~~06589583~~58131461% 3.~~485504~~597324% 0.000000% Class M-3 197,083,949.00 12.80001166% 197,083,118.64 1314.~~94195335~~38923278% 2.~~123942~~192082% 0.000000% Class M-4 167,828,949.00 10.89998711% 167,828,118.64 1112.~~87241108~~25329639% 2.~~069542~~135936% 0.000000% Class B-1 32,334,949.00 2.10005800% 32,334,118.64 2.~~28736371~~36074588% 1.~~797188~~854844% 0.000000% Class B-2 10,778,949.00 0.70006042% 10,778,118.64 0.~~76246017~~78692107% 1.~~524904~~573825% 0.000000% Class CE 100.00 0.00000649% 100.00 0.~~00000707~~00000730% 0.~~762453~~786914% 0.000000% Class CE-1 100.00 0.00000649% 100.00 0.~~00000707~~00000730% 0.000000% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000007% 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 ~~Mixed~~History* ~~Fixed~~New &REO ~~Arm~~Loans ~~Weighted~~Month ~~Average~~REO ~~Gross~~Percentage ~~Coupon~~Loans 7in REO 0 Aug-04 0.~~192648~~000% ~~Weighted~~Original ~~Average~~Principal ~~Net~~Balance ~~Coupon~~0.00 6Sep-04 0.~~708180~~000% ~~Weighted~~Current ~~Average~~Principal ~~Pass~~Balance 0.00 Oct-~~Through~~04 ~~Rate~~0.000% 6Nov-04 0.~~694180~~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 ~~8,653~~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 1 12 Month REO History* New REO Loans ~~Paid~~Month InREO ~~Full~~Percentage ~~219~~Loans ~~Ending~~in ~~Scheduled~~REO ~~Collateral~~0 ~~Loan~~Aug-04 ~~Count~~0.000% ~~8,434~~Original ~~Beginning~~Principal ~~Scheduled~~Balance ~~Collateral~~0.00 Sep-04 0.000% Current Principal Balance ~~1,457,607,068~~0.5100 ~~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 ~~1,413,597,604~~0.7700 ~~Ending~~Feb-05 ~~Actual~~0.000% ~~Collateral~~Current Principal Balance at0.00 31Mar-05 0.000% Apr-05 0.000% May-~~2005~~05 ~~1,414,035,549~~0.54000% ~~Monthly~~Jun-05 ~~P&I~~0.000% ~~Constant~~Jul-05 ~~9,629,932~~0.56000% ~~Special~~*The ~~Servicing~~text ~~Fee~~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 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal Balance 0.00 ~~Prepayment~~Sep-04 ~~Penalties~~0.000% ~~862,125~~Current Principal Balance 0.2100 ~~Realized~~Oct-04 ~~Loss~~0.000% ~~Amount~~Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Cumulative~~Feb-05 ~~Realized~~0.000% ~~Loss~~Current Principal Balance 0.00 ~~Scheduled~~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 3 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal ~~893,220~~Balance 0.00 ~~Unscheduled~~Sep-04 0.000% Current Principal ~~43,116,243~~Balance 0.7400 ~~Required~~Oct-04 ~~Overcollateralization~~0.000% ~~Amount~~Nov-04 0.000% Current REO Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Overcollateralized~~Feb-05 ~~Increase~~0.000% ~~Amount~~Current Principal Balance 0.00 ~~Overcollateralized~~Mar-05 ~~reduction~~0.000% ~~Amount~~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 4 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Aug-04 0.000% Original Principal Balance 0.00 ~~Specified~~Sep-04 ~~O/C~~0.000% ~~Amount~~Current ~~10,778,018~~Principal Balance 0.6500 ~~Overcollateralized~~Oct-04 ~~Amount~~0.000% ~~10,778,018~~Nov-04 0.65000% ~~Overcollateralized~~Current ~~Deficiency~~REO ~~Amount~~Total Dec-04 0.000% Loans in REO 0 Jan-05 0.000% Original Principal Balance 0.00 ~~Base~~Feb-05 ~~Overcollateralized~~0.000% ~~Amount~~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 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.090864 8.430571 6.497612 Weighted Average Net Rate 6.607090 7.944939 6.011286 Weighted Average Maturity 354 317 354 Beginning Loan ~~Count~~Detail ~~5,021~~- ~~2,581~~All ~~651~~Mortgage Loans ~~Paid~~in InREO ~~Full~~during ~~136~~Current 50Period 25Month ~~Ending~~ Loan ~~Count~~First ~~4,885~~Original ~~2,531~~Loan ~~626~~Entered ~~Beginning~~Payment ~~Scheduled~~LTV ~~Balance~~at ~~919,164,153.45~~Principal ~~183,894,563.92~~Group ~~300,228,243.52~~Number ~~Ending~~REO ~~Scheduled Balance 891,480,637.65 179,777,663.01 289,043,666.63 Record~~ Date ~~05/31/2005~~State ~~05/31/2005~~Origination ~~05/31/2005~~Balance ~~Principal~~No ~~And~~REO ~~Interest~~loans ~~Constant~~this ~~5,982,711~~period.55 1,455,525.35 1,761,445.55 Scheduled Principal 551,321.20 163,578.52 135,806.75 Unscheduled Principal 27,132,194.60 3,953,322.39 11,048,770.14 Scheduled Interest 5,431,390.35 1,291,946.83 1,625,638.80 Servicing Fees 370,556.73 74,420.90 121,673.97 Master Servicing Fees 0.00 0.00 0.00 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 10,723.58 2,145.44 3,502.66 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 5,050,110.04 1,215,380.49 1,500,462.17 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 6.593090 7.930939 5.997286

~~Group~~REO ~~Level~~Loan ~~Collateral~~Detail ~~Statement~~- ~~Group~~All ~~Group~~Mortgage 4Loans ~~Total~~in ~~Collateral~~REO ~~Description~~during ~~Mixed~~Current ~~Fixed~~Period ~~Mixed~~(continued) ~~Fixed~~Current &Paid ~~Arm~~Current ~~Weighted~~Approximate ~~Average Coupon Rate 8.565592 7.192648 Weighted Average Net Rate 8.083575 6.708180 Weighted Average Maturity 314 348 Beginning~~ Loan ~~Count~~Principal ~~400~~To ~~8,653~~Months ~~Loans Paid In Full 8 219 Ending~~ Loan ~~Count~~Delinquent ~~392~~Group ~~8,434~~Number ~~Beginning Scheduled~~ Balance ~~54,320,107.62 1,457,607,068.51 Ending scheduled Balance 53,295,637.48 1,413,597,604.77 Record~~ Date ~~05/31/2005~~Delinquent ~~05/31/2005~~Rate ~~Principal And~~ Interest ~~Constant~~No ~~430,250.11~~REO ~~9,629,932.56~~loans ~~Scheduled~~this ~~Principal 42,513~~period.53 893,220.00 Unscheduled Principal 981,956.61 43,116,243.74 Scheduled Interest 387,736.58 8,736,712.56 Servicing Fees 21,819.35 588,470.95 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 633.73 17,005.41 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 365,283.50 8,131,236.20 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 8.069575 6.694180

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 Series 2005-HE1