8-K 1 bst05007_8k-200512.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): December 27, 2005 BEAR STEARNS ARM TRUST Mortgage-Backed Notes, Series 2005-7 (Exact name of registrant as specified in its charter) New York (governing law of 333-120916-20 Pooling and Servicing Agreement) (Commission N/A (State or other File Number) IRS EIN jurisdiction 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 December 27, 2005 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage-Backed Notes, Series 2005-7 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-7 Trust, relating to the December 27, 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. BEAR STEARNS ARM TRUST Mortgage-Backed Notes, Series 2005-7 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 12/31/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-7 Trust, relating to the December 27, 2005 distribution. EX-99.1 Bear Stearns ARM Trust Mortgage-Backed Notes Record Date: 11/30/2005 Distribution Date: 12/27/2005 Bear Stearns ARM Trust Mortgage-Backed Notes Series 2005-7 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

Bear Stearns ARM Trust Mortgage-Backed Notes Record Date: 8/31/2005 Distribution Date: 9/26/2005 Bear Stearns ARM Trust Mortgage-Backed Notes Series 2005-7 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~~Class CUSIP Certificate Beginning ~~Class~~Interest Pass-Through Certificate ~~Interest~~Distribution ~~Class CUSIP Description~~ Rate Balance ~~Distribution~~ I-A-1 07387ACX1 ~~SEN~~ 4.75000% ~~284~~265,~~330~~512,~~844~~079.4590 1,~~125~~050,~~476~~985.2733 I-A-2 07387ADX0 ~~SEN~~ 4.75000% 1715,~~034~~907,~~519~~069.2092 6762,~~428~~965.3149 II-A-1 07387ACY9 ~~SEN~~ 5.12500% ~~239~~228,~~842~~075,~~709~~233.8838 1974,~~024,328~~071.2231 II-A-2 07387ADY8 ~~SEN~~ 5.12500% 1413,~~369~~664,~~097~~101.0765 6158,~~368~~357.0210 X-1 07387ACZ6 ~~SEN~~ 0.~~38843~~37218% 0.00 ~~179~~162,~~836~~257.4143 B-1 07387ADA0 ~~SUB~~ 5.~~31017~~29471% 17,~~550~~541,~~710~~329.1723 77,~~664~~396.4193 B-2 07387ADB8 ~~SUB~~ 5.~~31017~~29471% 4,~~759~~756,~~107~~564.9215 2120,~~059~~987.7320 B-3 07387ADC6 ~~SUB~~ 5.~~31017~~29471% 2,~~974~~972,~~442~~852.4560 13,~~162~~117.3300 B-4 07387ADD4 ~~SUB~~ 5.~~31017~~29471% 2,~~974~~972,~~442~~852.4560 13,~~162~~117.3300 B-5 07387ADE2 ~~SUB~~ 5.~~31017~~29471% 2,~~082~~081,~~609~~496.6246 9,~~215~~184.8511 B-6 07387ADF9 ~~SUB~~ 5.~~31017~~29471% 1,~~486~~485,~~657~~862.3373 6,~~578~~556.6700 Totals ~~587~~554,~~405~~969,~~140~~442.5462 2,~~599~~448,~~280~~994.5590

Certificateholder Distribution Summary (continued) Class Principal Current Ending ~~Cumulative~~Total ~~Principal~~Cummulative Distribution Realized Certificate ~~Total~~Distribution Realized ~~Class Distribution~~ Loss Balance ~~Distribution~~ Losses I-A-1 42,~~764~~457,~~427~~335.6559 0.00 ~~279~~263,~~566~~054,~~416~~744.8131 53,~~889~~508,~~903~~320.92 0.00 I-A-2 ~~285~~147,~~441~~221.1921 0.00 1615,~~749~~759,~~078~~848.0272 ~~352~~210,~~869~~186.5070 0.00 II-A-1 52,~~563~~139,~~377~~555.8152 0.00 ~~234~~225,~~279~~935,~~332~~677.0786 63,~~587~~113,~~706~~626.0383 0.00 II-A-2 ~~333~~128,~~304~~181.7684 0.00 1413,~~035~~535,~~792~~919.3281 ~~394~~186,~~672~~538.7894 0.00 X-1 0.00 0.00 0.00 ~~179~~162,~~836~~257.4143 0.00 B-1 3,~~076~~196.1247 0.00 17,~~547~~538,~~634~~132.0477 80,~~740~~593.5340 0.00 B-2 ~~834~~866.1376 0.00 4,~~758~~755,~~273~~697.7939 21,~~893~~853.8696 0.00 B-3 ~~521~~541.3373 0.00 2,~~973~~972,~~921~~310.1287 13,~~683~~658.6673 0.00 B-4 ~~521~~541.3373 0.00 2,~~973~~972,~~921~~310.1287 13,~~683~~658.6673 0.00 B-5 ~~365~~379.0230 0.00 2,~~082~~081,~~244~~117.6016 9,~~580~~563.8741 0.00 B-6 ~~260~~270.5676 0.00 1,~~486~~485,~~396~~591.7797 6,~~839~~826.2376 0.00 Totals 104,~~952~~878,~~129~~090.9091 0.00 ~~576~~550,~~453~~091,~~010~~351.6673 137,~~551~~327,~~410~~085.4581 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 Class Original Beginning Scheduled ~~Unscheduled~~UnScheduled Accretion Realized Face Certificate Principal Principal ~~Realized~~Loss ~~Class~~ Amount Balance Distribution Distribution ~~Accretion Loss (1)~~ I-A-1 287,794,000.00 ~~284~~265,~~330~~512,~~844~~079.4590 4947,~~183~~627.8059 42,~~715~~409,~~243~~707.8599 0.00 0.00 I-A-2 17,242,000.00 1715,~~034~~907,~~519~~069.2092 2,~~946~~853.6541 ~~282~~144,~~494~~367.5480 0.00 0.00 II-A-1 243,580,000.00 ~~239~~228,~~842~~075,~~709~~233.8838 42,~~686~~327.2758 52,~~520~~097,~~691~~227.5494 0.00 0.00 II-A-2 14,593,000.00 1413,~~369~~664,~~097~~101.0765 2,~~557~~535.3687 ~~330~~125,~~747~~645.4098 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 B-1 17,554,000.00 17,~~550~~541,~~710~~329.1723 3,~~076~~196.1247 0.00 0.00 0.00 B-2 4,760,000.00 4,~~759~~756,~~107~~564.9215 ~~834~~866.1376 0.00 0.00 0.00 B-3 2,975,000.00 2,~~974~~972,~~442~~852.4560 ~~521~~541.3373 0.00 0.00 0.00 B-4 2,975,000.00 2,~~974~~972,~~442~~852.4560 ~~521~~541.3373 0.00 0.00 0.00 B-5 2,083,000.00 2,~~082~~081,~~609~~496.6246 ~~365~~379.0230 0.00 0.00 0.00 B-6 1,486,936.00 1,~~486~~485,~~657~~862.3373 ~~260~~270.5676 0.00 0.00 0.00 Totals 595,042,936.00 ~~587~~554,~~405~~969,~~140~~442.5462 ~~102~~101,~~952~~141.5720 104,~~849~~776,~~177~~949.3371 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) Class Total Ending Ending Total Principal Certificate Certificate Principal ~~Class~~ Reduction Balance Percentage Distribution I-A-1 42,~~764~~457,~~427~~335.6559 ~~279~~263,~~566~~054,~~416~~744.8131 0.~~97141155~~914038 42,~~764~~457,~~427~~335.6559 I-A-2 ~~285~~147,~~441~~221.1921 1615,~~749~~759,~~078~~848.0272 0.~~97141155~~914038 ~~285~~147,~~441~~221.1921 II-A-1 52,~~563~~139,~~377~~555.8152 ~~234~~225,~~279~~935,~~332~~677.0786 0.~~96181678~~927563 52,~~563~~139,~~377~~555.8152 II-A-2 ~~333~~128,~~304~~181.7684 1413,~~035~~535,~~792~~919.3281 0.~~96181678~~927563 ~~333~~128,~~304~~181.7684 X-1 0.00 0.00 0.~~00000000~~000000 0.00 B-1 3,~~076~~196.1247 17,~~547~~538,~~634~~132.0477 0.~~99963735~~999096 3,~~076~~196.1247 B-2 ~~834~~866.1376 4,~~758~~755,~~273~~697.7939 0.~~99963735~~999096 ~~834~~866.1376 B-3 ~~521~~541.3373 2,~~973~~972,~~921~~310.1287 0.~~99963735~~999096 ~~521~~541.3373 B-4 ~~521~~541.3373 2,~~973~~972,~~921~~310.1287 0.~~99963735~~999096 ~~521~~541.3373 B-5 ~~365~~379.0230 2,~~082~~081,~~244~~117.6016 0.~~99963735~~999096 ~~365~~379.0230 B-6 ~~260~~270.5676 1,~~486~~485,~~396~~591.7797 0.~~99963735~~999096 ~~260~~270.5676 Totals 104,~~952~~878,~~129~~090.9091 ~~576~~550,~~453~~091,~~010~~351.6673 0.~~96875868~~924457 104,~~952~~878,~~129~~090.9091

Principal Distribution Factors Statement Class Original Beginning Scheduled ~~Unscheduled~~UnScheduled Accretion Face Certificate Principal Principal ~~Class (2)~~ Amount Balance Distribution Distribution ~~Accretion~~ I-A-1 287,794,000.00 ~~987~~922.~~96654708~~576843 0.~~17089932~~165492 168.~~38409366~~373031 0.~~00000000~~000000 I-A-2 17,242,000.00 ~~987~~922.~~96654680~~576843 0.~~17089955~~165492 168.~~38409349~~373031 0.~~00000000~~000000 II-A-1 243,580,000.00 ~~984~~936.~~65682683~~346307 0.~~17524538~~173773 228.~~66479818~~610017 0.~~00000000~~000000 II-A-2 14,593,000.00 ~~984~~936.~~65682656~~346306 0.~~17524567~~173773 228.~~66479819~~610017 0.~~00000000~~000000 X-1 0.00 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 B-1 17,554,000.00 999.~~81258801~~278183 0.~~17523755~~182094 0.~~00000000~~000000 0.~~00000000~~000000 B-2 4,760,000.00 999.~~81258824~~278183 0.~~17523739~~182092 0.~~00000000~~000000 0.~~00000000~~000000 B-3 2,975,000.00 999.~~81258824~~278185 0.~~17523697~~182094 0.~~00000000~~000000 0.~~00000000~~000000 B-4 2,975,000.00 999.~~81258824~~278185 0.~~17523697~~182094 0.~~00000000~~000000 0.~~00000000~~000000 B-5 2,083,000.00 999.~~81258761~~278185 0.~~17523764~~182093 0.~~00000000~~000000 0.~~00000000~~000000 B-6 1,486,936.00 999.~~81258776~~278200 0.~~17523283~~182093 0.~~00000000~~000000 0.~~00000000 (2) Per $1000 denomination.~~000000

Principal Distribution Factors Statement (continued) Class Realized Total Ending Ending Total ~~Realized~~Loss Principal Certificate Certificate Principal ~~Class Loss (3)~~ Reduction Balance Percentage Distribution I-A-1 0.~~00000000~~000000 168.~~55499298~~538523 ~~971~~914.~~41155413~~038320 0.~~97141155~~914038 168.~~55499298~~538523 I-A-2 0.~~00000000~~000000 168.~~55499304~~538523 ~~971~~914.~~41155434~~038320 0.~~97141155~~914038 168.~~55499304~~538523 II-A-1 0.~~00000000~~000000 228.~~84004356~~783790 ~~961~~927.~~81678327~~562517 0.~~96181678~~927563 228.~~84004356~~783790 II-A-2 0.~~00000000~~000000 228.~~84004386~~783789 ~~961~~927.~~81678339~~562517 0.~~96181678~~927563 228.~~84004386~~783789 X-1 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 0.~~00000000~~000000 B-1 0.~~00000000~~000000 0.~~17523755~~182094 999.~~63734989~~096090 0.~~99963735~~999096 0.~~17523755~~182094 B-2 0.~~00000000~~000000 0.~~17523739~~182092 999.~~63735084~~096090 0.~~99963735~~999096 0.~~17523739~~182092 B-3 0.~~00000000~~000000 0.~~17523697~~182094 999.~~63735126~~096091 0.~~99963735~~999096 0.~~17523697~~182094 B-4 0.~~00000000~~000000 0.~~17523697~~182094 999.~~63735126~~096091 0.~~99963735~~999096 0.~~17523697~~182094 B-5 0.~~00000000~~000000 0.~~17523764~~182093 999.~~63734998~~096092 0.~~99963735~~999096 0.~~17523764~~182093 B-6 0.~~00000000~~000000 0.~~17523283~~182093 999.~~63735494~~096108 0.~~99963735~~999096 0.~~17523283~~182093 ~~(3)~~Per ~~Amount~~$1000 ~~Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed~~denomination. ~~Please Refer to the Prospectus Supplement for a Full Description.~~

Interest Distribution Statement ~~Beginning~~Class ~~Payment~~Accrual ofAccrual ~~Original~~ Current ~~Certificate/~~Beginning Current ~~Unpaid~~Payment ~~Current~~of ~~Face~~Dates Days Certificate ~~Notional~~Certificate/ Accrued ~~Interest~~Unpaid Interest ~~Class Amount~~ Rate Notional Balance Interest Shortfall ~~Shortfall~~ I-A-1 ~~287,794,000.00~~11/01/05 - 11/30/05 30 4.75000% ~~284~~265,~~330~~512,~~844~~079.4590 1,~~125~~050,~~476~~985.2632 0.00 ~~0.00~~ I-A-2 ~~17,242,000.00~~11/01/05 - 11/30/05 30 4.75000% 1715,~~034~~907,~~519~~069.2092 6762,~~428~~965.3149 0.00 ~~0.00~~ II-A-1 ~~243,580,000.00~~11/01/05 - 11/30/05 30 5.12500% ~~239~~228,~~842~~075,~~709~~233.8838 1974,~~024,328~~071.2431 0.00 ~~0.00~~ II-A-2 ~~14,593,000.00~~11/01/05 - 11/30/05 30 5.12500% 1413,~~369~~664,~~097~~101.0765 6158,~~368~~357.0210 0.00 ~~0.00~~ X-1 ~~0.00~~11/01/05 - 11/30/05 30 0.~~38843~~37218% ~~555~~523,~~577~~158,~~170~~484.6186 ~~179~~162,~~836~~257.4143 0.00 ~~0.00~~ B-1 ~~17,554,000.00~~11/01/05 - 11/30/05 30 5.~~31017~~29471% 17,~~550~~541,~~710~~329.1723 77,~~664~~396.4193 0.00 ~~0.00~~ B-2 ~~4,760,000.00~~11/01/05 - 11/30/05 30 5.~~31017~~29471% 4,~~759~~756,~~107~~564.9215 2120,~~059~~987.7320 0.00 ~~0.00~~ B-3 ~~2,975,000.00~~11/01/05 - 11/30/05 30 5.~~31017~~29471% 2,~~974~~972,~~442~~852.4560 13,~~162~~117.~~33 0.~~00 0.00 B-4 ~~2,975,000.00~~11/01/05 - 11/30/05 30 5.~~31017~~29471% 2,~~974~~972,~~442~~852.4560 13,~~162~~117.~~33 0.~~00 0.00 B-5 ~~2,083,000.00~~11/01/05 - 11/30/05 30 5.~~31017~~29471% 2,~~082~~081,~~609~~496.6246 9,~~215~~184.8511 0.00 ~~0.00~~ B-6 ~~1,486,936.00~~11/01/05 - 11/30/05 30 5.~~31017~~29471% 1,~~486~~485,~~657~~862.3373 6,~~578~~556.6701 0.00 ~~0.00~~ Totals ~~595,042,936.00~~ 2,~~599~~448,~~280~~994.5690 0.00 ~~0.00~~

Interest Distribution Statement (continued) ~~Remaining~~Class ~~Ending~~Current Non-Supported Total ~~Unpaid~~Remaining ~~Certificate/~~Ending Interest ~~Realized~~Interest Interest Unpaid Interest Certificate/Notional ~~Class~~ Shortfall ~~Losses~~ (41) Shortfall Distribution Shortfall(2) Balance I-A-1 0.00 (0.01) ~~0.00~~ 1,~~125~~050,~~476~~985.2733 0.00 ~~279~~263,~~566~~054,~~416~~744.8131 I-A-2 0.00 0.00 6762,~~428~~965.3149 0.00 1615,~~749~~759,~~078~~848.0272 II-A-1 0.0200 0.00 1974,~~024,328~~071.2231 0.00 ~~234~~225,~~279~~935,~~332~~677.0786 II-A-2 0.00 0.00 6158,~~368~~357.0210 0.00 1413,~~035~~535,~~792~~919.3281 X-1 0.00 0.00 ~~179~~162,~~836~~257.4143 0.00 ~~544~~518,~~630~~286,~~619~~190.2169 B-1 0.00 0.00 77,~~664~~396.4193 0.00 17,~~547~~538,~~634~~132.0477 B-2 0.00 0.00 2120,~~059~~987.7320 0.00 4,~~758~~755,~~273~~697.7939 B-3 0.00 0.00 13,~~162~~117.3300 0.00 2,~~973~~972,~~921~~310.1287 B-4 0.00 0.00 13,~~162~~117.3300 0.00 2,~~973~~972,~~921~~310.1287 B-5 0.00 0.00 9,~~215~~184.8511 0.00 2,~~082~~081,~~244~~117.6016 B-6 0.0001 0.00 6,~~578~~556.6700 0.0001 1,~~486~~485,~~396~~591.7797 Totals 0.01 (0.0001) 2,~~599~~448,~~280~~994.5590 0.0001 (41,2) Amount ~~Does~~also ~~Not~~includes ~~Include~~coupon ~~Excess~~cap ~~Special Hazard, Bankruptcy,~~ or ~~Fraud~~basis ~~Losses~~risk ~~Unless~~shortfalls,if ~~Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.~~applicable

Interest Distribution Factors Statement ~~Beginning~~Class ~~Payment~~Accrual of Original Current ~~Certificate/~~Beginning Current ~~Unpaid~~Payment ~~Current~~of Dates Face Certificate Certificate/Notional Accrued ~~Interest~~Unpaid Interest ~~Class (5)~~ Amount Rate Balance Interest Shortfall ~~Shortfall~~ I-A-1 11/01/05 - 11/30/05 287,794,000.00 4.75000% ~~987~~922.~~96654708~~576843 3.~~91070092~~651867 0.~~00000000~~000000 ~~0.00000000~~ I-A-2 11/01/05 - 11/30/05 17,242,000.00 4.75000% ~~987~~922.~~96654680~~576843 3.~~91070119~~651867 0.~~00000000~~000000 ~~0.00000000~~ II-A-1 11/01/05 - 11/30/05 243,580,000.00 5.12500% ~~984~~936.~~65682683~~346307 43.~~20530520~~998979 0.~~00000000~~000000 ~~0.00000000~~ II-A-2 11/01/05 - 11/30/05 14,593,000.00 5.12500% ~~984~~936.~~65682656~~346306 43.~~20530528~~998979 0.~~00000000~~000000 ~~0.00000000~~ X-1 11/01/05 - 11/30/05 0.00 0.~~38843~~37218% ~~986~~928.~~44938311~~888716 0.~~31930670~~288095 0.~~00000000~~000000 ~~0.00000000~~ B-1 11/01/05 - 11/30/05 17,554,000.00 5.~~31017~~29471% 999.~~81258801~~278183 4.~~42431412~~409077 0.~~00000000~~000000 ~~0.00000000~~ B-2 11/01/05 - 11/30/05 4,760,000.00 5.~~31017~~29471% 999.~~81258824~~278183 4.~~42431303~~409076 0.~~00000000~~000000 ~~0.00000000~~ B-3 11/01/05 - 11/30/05 2,975,000.00 5.~~31017~~29471% 999.~~81258824~~278185 4.~~42431261~~409076 0.~~00000000~~000000 ~~0.00000000~~ B-4 11/01/05 - 11/30/05 2,975,000.00 5.~~31017~~29471% 999.~~81258824~~278185 4.~~42431261~~409076 0.~~00000000~~000000 ~~0.00000000~~ B-5 11/01/05 - 11/30/05 2,083,000.00 5.~~31017~~29471% 999.~~81258761~~278185 4.~~42431589~~409078 0.~~00000000~~000000 ~~0.00000000~~ B-6 11/01/05 - 11/30/05 1,486,936.00 5.~~31017~~29471% 999.~~81258776~~278200 4.~~42431282~~409073 0.~~00000000 0.00000000 (5) Per $1000 denomination.~~000007

Interest Distribution Factors Statement (continued) ~~Remaining~~Class ~~Ending~~Current Non-Supported Total Remaining Unpaid ~~Certificate/~~Ending Interest ~~Realized~~Interest Interest Interest ~~Notional~~Certificate/ ~~Class~~ Shortfall ~~Losses~~ (61) Shortfall Distribution Shortfall(2) Notional Balance I-A-1 (0.~~00000003)~~000000 0.~~00000000~~000000 3.~~91070095~~651867 0.~~00000000~~000000 ~~971~~914.~~41155413~~038320 I-A-2 0.~~00000000~~000000 0.~~00000000~~000000 3.~~91070119~~651867 0.~~00000000~~000000 ~~971~~914.~~41155434~~038320 II-A-1 0.~~00000008~~000000 0.~~00000000~~000000 43.~~20530512~~998979 0.~~00000000~~000000 ~~961~~927.~~81678327~~562517 II-A-2 0.~~00000000~~000000 0.~~00000000~~000000 43.~~20530528~~998979 0.~~00000000~~000000 ~~961~~927.~~81678339~~562517 X-1 0.~~00000000~~000000 0.~~00000000~~000000 0.~~31930670~~288095 0.~~00000000~~000000 ~~967~~920.~~01334533~~237764 B-1 0.~~00000000~~000000 0.~~00000000~~000000 4.~~42431412~~409077 0.~~00000000~~000000 999.~~63734989~~096090 B-2 0.~~00000000~~000000 0.~~00000000~~000000 4.~~42431303~~409076 0.~~00000000~~000000 999.~~63735084~~096090 B-3 0.~~00000000~~000000 0.~~00000000~~000000 4.~~42431261~~409076 0.~~00000000~~000000 999.~~63735126~~096091 B-4 0.~~00000000~~000000 0.~~00000000~~000000 4.~~42431261~~409076 0.~~00000000~~000000 999.~~63735126~~096091 B-5 0.~~00000000~~000000 0.~~00000000~~000000 4.~~42431589~~409078 0.~~00000000~~000000 999.~~63734998~~096092 B-6 0.~~00000000~~000007 0.~~00000000~~000000 4.~~42431282~~409067 0.~~00000000~~000007 999.~~63735494~~096108 (61,2) Amount ~~Does~~also ~~Not~~includes ~~Include~~coupon ~~Excess~~cap ~~Special Hazard, Bankruptcy,~~or ~~Fraud~~basis ~~Losses~~risk ~~Unless~~shortfalls,if ~~Otherwise Disclosed~~applicable. ~~Please~~Per ~~Refer~~$1000 ~~to the Prospectus Supplement for a Full Description~~denomination.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 137,~~673~~450,~~831~~446.0540 ~~Liquidations,~~Reserve ~~Insurance~~Funds ~~Proceeds,~~and ~~Reserve~~Credit ~~Funds~~Enhancements ~~1,542~~0.4700 Proceeds from Repurchased Loans 0.00 ~~Other Amounts (~~Servicer Advances) 1721,~~658~~040.4300 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Swap/Cap Payments 0.00 Total Deposits 137,~~693~~471,~~031~~486.9540 Withdrawals Swap Payments 0.00 Reserve Funds and Credit Enhancements 0.00 Reimbursement for Servicer Advances 1524,~~287~~882.4447 ~~Payment~~Total ofAdministration ~~Service~~Fees ~~Fee 126~~119,~~334~~518.0612 Payment of Interest and Principal 137,~~551~~327,~~410~~085.4581 Total Withdrawals (Pool Distribution Amount) 137,~~693~~471,~~031~~486.9540 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 (0.0001)

~~SERVICING~~ADMINISTRATION FEES Gross Servicing Fee* ~~126~~119,~~334~~518.0612 Supported Prepayment/Curtailment Interest Shortfall 0.00 ~~Net~~Total ~~Servicing~~Administration ~~Fee~~Fees ~~126~~119,~~334~~518.0612 *Servicer Payees include: BANK OF AMERICA (NY); COUNTRYWIDE HOME LOANS INC.; EMC MTG CORP; HOMEBANC MORTGAGE CORPORATION; NATIONAL CITY MTG CO; PHH US MTG CORP

~~LOAN~~COLLATERAL ~~STATUS STRATIFICATION/CREDIT ENHANCEMENT~~ STATEMENT ~~DELINQUENT~~Collateral ~~BANKRUPTCY~~Description ~~FORECLOSURE~~Mixed ~~REO~~ARM ~~Total~~Weighted NoAverage ofGross ~~Loans~~Coupon No5.553847% ofWeighted ~~Loans~~Average NoNet ofCoupon ~~Loans~~5.295416% NoWeighted ofAverage ~~Loans~~Pass-Through NoRate of5.295416% ~~Loans~~Weighted ~~Principal~~Average ~~Balance~~Remaining ~~Principal~~Term ~~Balance~~354 ~~Principal~~Beginning ~~Balance~~Scheduled ~~Principal~~Collateral ~~Balance~~Loan ~~Principal~~Count ~~Balance~~1,107 ~~0-29~~Number ~~Days~~Of 0Loans 0Paid 0In 0Full ~~0.00~~10 ~~0.00~~Ending ~~0.00~~Scheduled ~~0.00~~Collateral 30Loan ~~Days~~Count 41,097 0Beginning 0Scheduled 0Collateral 4Balance 3554,~~036~~969,~~660~~443.37 ~~0.00~~Ending ~~0.00~~Scheduled ~~0.00~~Collateral 3Balance 550,~~036~~091,~~660~~352.3746 60Ending ~~Days~~Actual 1Collateral 0Balance 0at 030-Nov-2005 ~~1 378~~550,~~000~~176,143.0019 ~~0.00~~Monthly ~~0.00~~P&I ~~0.00~~Constant ~~378~~2,~~000~~669,654.0023 90Special ~~Days~~Servicing 0Fee 0 ~~0 0 0 0~~.00 ~~0.00~~Realized ~~0.00~~Loss ~~0.00~~Amount 0.00 ~~120~~Cumulative ~~Days~~Realized 0Loss 0 ~~0 0 0 0~~.00 ~~0.00~~Scheduled ~~0.00~~Principal ~~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 5 0 0 0 5 3~~101,~~414,660~~141.3720 ~~0.00~~Unscheduled ~~0.00~~Principal ~~0.00 3~~4,~~414~~776,~~660~~949.37 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.349345% 0.000000% 0.000000% 0.000000% 0.349345% 0.527033% 0.000000% 0.000000% 0.000000% 0.527033% 60 Days 0.087336% 0.000000% 0.000000% 0.000000% 0.087336% 0.065604% 0.000000% 0.000000% 0.000000% 0.065604% 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 0.436681% 0.000000% 0.000000% 0.000000% 0.436681% 0.592637% 0.000000% 0.000000% 0.000000% 0.592637%71

~~DELINQUENT~~Group ~~BANKRUPTCY~~Level ~~FORECLOSURE~~Collateral ~~REO~~Statement ~~Total~~Group Group I NoGroup ofII ~~Loans~~Total NoCollateral ofDescription ~~Loans~~Mixed NoARM ofMixed ~~Loans~~ARM NoMixed ofARM ~~Loans~~Weighted NoAverage ofCoupon ~~Loans~~Rate ~~Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0~~5.00457450 05.00666163 05.00553847 ~~0.00~~Weighted 30Average ~~Days~~Net 1Rate ~~0 0 0 1 919,860~~5.37202092 05.00404150 05.00295416 ~~0.00~~Weighted ~~919,860.37~~Average 60Remaining ~~Days~~Term 0354 0354 0354 0Beginning 0Loan ~~0.00~~Count ~~0.00~~577 ~~0.00~~530 ~~0.00~~1,107 ~~0.00~~Loans 90Paid ~~Days~~In 0Full 07 03 010 0Ending ~~0.00~~Loan ~~0.00~~Count ~~0.00~~570 ~~0.00~~527 ~~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~~ 1,097 0Beginning 0Scheduled 0Balance ~~1 919~~298,~~860~~648,227.3798 0256,321,215.0039 ~~0.00 0.00 919~~554,~~860~~969,443.37 ~~0-29~~Ending ~~Days~~Scheduled ~~0.000000%~~Balance 0296,040,580.~~000000%~~63 0254,050,771.~~000000%~~83 0550,091,352.~~000000%~~46 ~~0.000000%~~Record ~~0.000000%~~Date ~~0.000000%~~11/30/2005 ~~0.000000%~~11/30/2005 11/30/2005 ~~Days~~Principal ~~0.165837%~~And ~~0.000000%~~Interest ~~0.000000%~~Constant 01,411,786.~~000000%~~47 01,257,867.~~165837%~~76 02,669,654.~~293605%~~23 ~~0.000000%~~Scheduled ~~0.000000%~~Principal 053,571.~~000000%~~56 047,569.~~293605%~~64 ~~60 Days 0~~101,141.~~000000%~~20 ~~0.000000%~~Unscheduled ~~0.000000%~~Principal 02,554,075.~~000000%~~79 02,222,873.~~000000%~~92 04,776,949.~~000000%~~71 ~~0.000000%~~Scheduled ~~0.000000%~~Interest 01,358,214.~~000000%~~91 01,210,298.~~000000%~~12 ~~90 Days 0~~2,568,513.~~000000%~~03 ~~0.000000%~~Servicing ~~0.000000%~~Fee 063,551.~~000000%~~88 055,966.~~000000%~~24 0119,518.~~000000%~~12 ~~0.000000%~~Master ~~0.000000%~~Servicing ~~0.000000%~~Fee 0.~~000000%~~00 ~~120 Days~~ 0.~~000000%~~00 0.~~000000%~~00 ~~0.000000%~~Trustee ~~0.000000%~~Fee 0.~~000000%~~00 0.~~000000%~~00 0.~~000000%~~00 ~~0.000000%~~FRY ~~0.000000%~~Amount 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 0.165837% 0.000000% 0.000000% 0.000000% 0.165837% 0.293605% 0.000000% 0.000000% 0.000000% 0.293605% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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~~Special 30Hazard ~~Days~~Fee 3 0 ~~0 0 3 2,116,800~~.00 0.00 0.00 ~~0.00~~Other ~~2,116,800.00~~Fee ~~60 Days 1~~ 0 ~~0 0 1 378,000~~.00 0.00 0.00 ~~0.00~~Pool ~~378,000.00~~Insurance 90Fee ~~Days~~ 0 ~~0 0 0 0 0~~.00 0.00 0.00 ~~0.00~~Spread ~~0.00~~1 ~~120 Days~~ 0 ~~0 0 0 0 0~~.00 0.00 0.00 ~~0.00~~Spread ~~0.00~~2 ~~150 Days~~ 0 ~~0 0 0 0 0~~.00 0.00 0.00 ~~0.00~~Spread ~~0.00~~3 ~~180+ Days~~ 0 ~~0 0 0 0 0~~.00 0.00 0.00 ~~0.00~~Net ~~0.00~~Interest ~~Totals 4 0 0 0 4 2~~1,~~494~~294,~~800~~663.0003 01,154,331.0088 ~~0.00 0.00~~ 2,~~494~~448,~~800~~994.0091 ~~0-29~~Realized ~~Days~~Loss ~~0.000000%~~Amount 0.~~000000%~~00 0.~~000000%~~00 0.~~000000%~~00 ~~0.000000%~~Cumulative ~~0.000000%~~Realized ~~0.000000%~~Loss 0.~~000000%~~00 ~~30 Days~~ 0.~~553506%~~00 0.~~000000%~~00 ~~0.000000%~~Percentage ~~0.000000%~~of ~~0.553506%~~Cumulative ~~0.805228%~~Losses 0.~~000000%~~0000 0.~~000000%~~0000 0.~~000000%~~0000 ~~0.805228%~~Special 60Servicing ~~Days~~Fee 0.~~184502%~~00 0.~~000000%~~00 0.~~000000%~~00 ~~0.000000%~~Pass-Through ~~0.184502%~~Rate 05.~~143791%~~202092 05.~~000000%~~404150 05.000000% 0.000000% 0.143791% 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 0.738007% 0.000000% 0.000000% 0.000000% 0.738007% 0.949018% 0.000000% 0.000000% 0.000000% 0.949018%295416

~~OTHER~~Additional ~~INFORMATION~~Reporting ~~Current~~- ~~Period~~Group ~~Class~~Level AMiscellaneous ~~Insufficient~~Reporting ~~Funds~~Group 0I Senior Percentage 94.00230980% ~~Principal~~Senior ~~Balance~~Prepayment ofPercentage ~~Contaminated~~100.000000% ~~Properties~~Subordinate Percentage 5.769020% Subordinate Prepayment Percentage 0.00000000% ~~Periodic~~Group ~~Advance~~II ~~17,658~~Senior Percentage 94.43311092% Senior Prepayment Percentage 100.000000% Subordinate Percentage 5.688908% Subordinate Prepayment Percentage 0.000000%

~~Summary~~LOAN 12STATUS ~~Month~~STRATIFICATION/CREDIT ~~REO~~ENHANCEMENT History*STATEMENT ~~New~~DELINQUENT BANKRUPTCY FORECLOSURE REO TOTAL No of Loans ~~Month~~No ~~REO~~of ~~Percentage~~Loans No of Loans inNo ~~REO~~of 0Loans ~~Oct-04~~No ~~0.000%~~of ~~Original~~Loans Principal Balance ~~0.00~~Principal ~~Nov-04~~Balance ~~0.000%~~Principal ~~Current~~Balance Principal Balance ~~0.00~~Principal ~~Dec-04~~Balance 0~~.000% Jan~~-0529 Days 0~~.000%~~ ~~Current~~0 ~~REO~~0 ~~Total~~0 ~~Feb-05~~ 0.~~000%~~00 ~~Loans in REO~~ 0 ~~Mar-05 0~~.~~000%~~00 ~~Original Principal Balance~~ 0.00 ~~Apr-05~~ 0.~~000%~~00 ~~Current~~30 ~~Principal~~Days ~~Balance~~8 0~~.00~~ ~~May-05~~0 0~~.000%~~ ~~Jun-05~~8 02,681,738.~~000%~~72 ~~Jul-05~~ 0.~~000%~~00 ~~Aug-05~~ 0.~~000%~~00 ~~Sep-05~~ 0.~~000%~~00 *The2,681,738.72 ~~text~~60 ~~reported~~Days in2 ~~the~~0 ~~above~~0 ~~table~~0 is2 ~~presented~~620,244.00 ~~graphically~~0.00 on0.00 ~~the~~0.00 ~~monthly bond remittance report~~620,244.00 ~~The~~90 ~~monthly~~Days ~~bond~~0 ~~remittance~~0 ~~report~~0 ~~can~~0 be0 ~~viewed~~0.00 ~~online~~0.00 at0.00 ~~www~~0.~~ctslink~~00 0.~~com.~~00 ~~Group~~120 IDays 120 ~~Month~~0 ~~REO~~1 History*0 ~~New~~1 ~~REO~~0.00 ~~Loans~~0.00 ~~Month~~919,860.37 ~~REO~~0.00 ~~Percentage~~919,860.37 ~~Loans~~150 inDays ~~REO~~0 0 ~~Oct-04~~0 0~~.000%~~ ~~Original~~0 ~~Principal Balance~~ 0.00 ~~Nov-04~~ 0.~~000%~~00 ~~Current Principal Balance~~ 0.00 ~~Dec-04~~ 0.~~000%~~00 ~~Jan-05~~ 0.~~000%~~00 ~~Current~~180+ ~~REO~~Days ~~Total~~0 ~~Feb-05~~0 0~~.000%~~ ~~Loans~~0 ~~in REO~~ 0 ~~Mar-05~~ 0.~~000%~~00 ~~Original Principal Balance~~ 0.00 ~~Apr-05~~ 0.~~000%~~00 ~~Current Principal Balance~~ 0.00 ~~May-05~~ 0.~~000%~~00 ~~Jun-05~~Totals 10 0~~.000%~~ ~~Jul-05~~1 0~~.000%~~ ~~Aug-05~~11 3,301,982.72 0.~~000%~~00 ~~Sep-05~~919,860.37 0.~~000%~~00 *The4,221,843.09 ~~text~~No ~~reported~~of inLoans ~~the~~No ~~above~~of ~~table~~Loans isNo ~~presented~~of ~~graphically~~Loans onNo ~~the~~of ~~monthly~~Loans ~~bond~~No ~~remittance~~of ~~report.~~Loans ~~The~~Principal ~~monthly~~Balance ~~bond~~Principal ~~remittance~~Balance ~~report~~Principal ~~can~~Balance bePrincipal ~~viewed~~Balance ~~online~~Principal atBalance ~~www~~0-29 Days 0.~~ctslink~~000000% 0.~~com~~000000% 0.000000% ~~Group~~0.000000% II0.000000% 120.000000% ~~Month~~0.000000% ~~REO~~0.000000% History*30 ~~New~~Days ~~REO~~0.729262% ~~Loans~~0.000000% ~~Month~~0.000000% ~~REO~~0.000000% ~~Percentage~~0.729262% ~~Loans~~0.487433% in0.000000% ~~REO~~0.000000% 0.000000% ~~Oct-04~~ 0.~~000~~487433% ~~Original~~60 ~~Principal~~Days ~~Balance~~0.182315% 0.00000000% ~~Nov-04~~0.000000% 0.~~000~~000000% ~~Current~~0.182315% ~~Principal~~0.112736% ~~Balance~~0.000000% 0.00000000% ~~Dec-04~~ 0.~~000~~000000% ~~Jan-05~~ 0.~~000~~112736% ~~Current~~90 ~~REO~~Days ~~Total~~0.000000% ~~Feb-05~~0.000000% 0.~~000~~000000% ~~Loans~~0.000000% in0.000000% ~~REO~~0.000000% 0.000000% ~~Mar-05~~0.000000% 0.~~000~~000000% ~~Original~~0.000000% ~~Principal~~120 ~~Balance~~Days 0.00000000% ~~Apr-05~~0.000000% 0.~~000~~091158% ~~Current~~0.000000% ~~Principal~~0.091158% ~~Balance~~0.000000% 0.00000000% ~~May-05~~0.167194% 0.~~000~~000000% ~~Jun-05~~ 0.~~000~~167194% ~~Jul-05~~150 Days 0.~~000~~000000% ~~Aug-05~~0.000000% 0.~~000~~000000% ~~Sep-05~~0.000000% 0.~~000~~000000% *The0.000000% ~~text~~0.000000% ~~reported~~0.000000% in0.000000% ~~the~~0.000000% ~~above~~180+ ~~table~~Days is0.000000% ~~presented~~0.000000% ~~graphically~~0.000000% on0.000000% ~~the~~0.000000% ~~monthly~~0.000000% ~~bond~~0.000000% ~~remittance~~0.000000% ~~report~~0.000000% ~~The~~0.000000% ~~monthly~~Totals ~~bond~~0.911577% ~~remittance~~0.000000% ~~report~~0.091158% ~~can~~0.000000% be1.002735% ~~viewed~~0.600168% ~~online~~0.000000% at0.167194% ~~www~~0.~~ctslink~~000000% 0.~~com.~~767362%

REO Detail - All Mortgage Loans in REO during Current Period

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Summary 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Oct~~Jan-0405 0.000% Original Principal Balance 0.00 ~~Nov~~Feb-0405 0.000% Current Principal Balance 0.00 ~~Dec~~Mar-0405 0.000% ~~Jan~~Apr-05 0.000% Current Foreclosure Total ~~Feb~~May-05 0.000% Loans in Foreclosure 01 ~~Mar~~Jun-05 0.000% Original Principal Balance 0922,500.00 ~~Apr~~Jul-05 0.000% Current Principal Balance 0919,860.0037 ~~May~~Aug-05 0.000% ~~Jun~~Sep-05 0.000% ~~Jul~~Oct-05 0.000% ~~Aug~~Nov-05 0.~~000~~166% ~~Sep~~Dec-05 0.~~000~~167% *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 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Oct~~Jan-0405 0.000% Original Principal Balance 0.00 ~~Nov~~Feb-0405 0.000% Current Principal Balance 0.00 ~~Dec~~Mar-0405 0.000% ~~Jan~~Apr-05 0.000% Current Foreclosure Total ~~Feb~~May-05 0.000% Loans in Foreclosure 01 ~~Mar~~Jun-05 0.000% Original Principal Balance 0922,500.00 ~~Apr~~Jul-05 0.000% Current Principal Balance 0919,860.0037 ~~May~~Aug-05 0.000% ~~Jun~~Sep-05 0.000% ~~Jul~~Oct-05 0.000% ~~Aug~~Nov-05 0.~~000~~308% ~~Sep~~Dec-05 0.~~000~~311% *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 II 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Oct~~Jan-0405 0.000% Original Principal Balance 0.00 ~~Nov~~Feb-0405 0.000% Current Principal Balance 0.00 ~~Dec~~Mar-0405 0.000% ~~Jan~~Apr-05 0.000% Current Foreclosure Total ~~Feb~~May-05 0.000% Loans in Foreclosure 0 ~~Mar~~Jun-05 0.000% Original Principal Balance 0.00 ~~Apr~~Jul-05 0.000% Current Principal Balance 0.00 ~~May~~Aug-05 0.000% ~~Jun~~Sep-05 0.000% ~~Jul~~Oct-05 0.000% ~~Aug~~Nov-05 0.000% ~~Sep~~Dec-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.

Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance NoGroup ~~Foreclosure~~I ~~loans~~6081355387 ~~this~~Nov-2005 ~~period~~01-May-2005 PA 0.00 922,500.00

Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued) Current Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest NoGroup ~~Foreclosure~~I ~~loans~~6081355387 ~~this~~919,860.37 ~~period~~01-Jul-2005 4 6.250% 22,951.82

Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period

~~Group~~Summary ~~Level~~12 ~~Collateral~~Month ~~Statement~~Bankruptcy ~~Group~~History* ~~Group~~New IBankruptcy ~~Group~~Loans IIMonth ~~Total~~Bankruptcy ~~Collateral~~Percentage ~~Description~~Loans ~~Mixed~~in ~~ARM~~Bankruptcy ~~Mixed~~0 ~~ARM~~Jan-05 ~~Mixed~~0.000% ~~ARM~~Original ~~Weighted~~Principal ~~Average~~Balance ~~Coupon Rate 5~~0.~~480096~~00 ~~5.672434~~Feb-05 50.~~568112~~000% ~~Weighted~~Current ~~Average~~Principal ~~Net~~Balance ~~Rate 5~~0.~~225159~~00 ~~5.410617~~Mar-05 50.~~310026~~000% ~~Weighted~~Apr-05 ~~Average~~0.000% ~~Maturity~~Current ~~356~~Bankruptcy ~~356~~Total ~~356~~May-05 ~~Beginning~~0.000% ~~Loan~~Loans ~~Count~~in ~~598~~Bankruptcy ~~526~~0 ~~1,124~~Jun-05 ~~Loans~~0.000% ~~Paid~~Original InPrincipal ~~Full~~Balance ~~(5)~~0.00 ~~(16)~~Jul-05 ~~(21)~~0.000% ~~Ending~~Current ~~Loan~~Principal ~~Count~~Balance ~~603~~0.00 ~~542~~Aug-05 ~~1,145~~0.000% ~~Beginning~~Sep-05 ~~Scheduled~~0.000% ~~Balance~~Oct-05 ~~318,603,546~~0.76000% ~~268,801,594~~Nov-05 0.55000% ~~587,405,141~~Dec-05 0.31000% ~~Ending~~*The ~~Scheduled~~text ~~Balance~~reported ~~313,550,696.05~~in ~~262,902,315.35~~the ~~576,453,011.40~~above ~~Record~~table ~~Date~~is ~~08/31/2005~~presented ~~08/31/2005~~graphically ~~08/31/2005~~on ~~Principal~~the ~~And~~monthly ~~Interest~~bond ~~Constant~~remittance ~~1,510,094~~report.10 ~~1,318,473.09~~The ~~2,828,567.19~~monthly ~~Scheduled~~bond ~~Principal~~remittance ~~55,112.32~~report ~~47,840.26~~can ~~102,952.58~~be ~~Unscheduled~~viewed ~~Principal~~online ~~4,997,738.39~~at ~~5,851,438~~www.~~94 10,849,177~~ctslink.33com. ~~Scheduled~~Group ~~Interest~~I ~~1,454,981.78~~12 ~~1,270,632.83~~Month ~~2,725,614.61~~Bankruptcy ~~Servicing~~History* ~~Fees~~New ~~67,686.66~~Bankruptcy ~~58,647.40~~Loans ~~126,334.06~~Month ~~Master~~Bankruptcy ~~Servicing~~Percentage ~~Fees~~Loans ~~0.00~~in Bankruptcy 0~~.00~~ Jan-05 0.00000% ~~Trustee~~Original ~~Fee~~Principal ~~0.00~~Balance 0.00 Feb-05 0.00000% ~~FRY~~Current ~~Amount~~Principal Balance 0.00 Mar-05 0.00000% Apr-05 0.00000% ~~Special~~Current ~~Hazard~~Bankruptcy ~~Fee~~Total ~~0.00~~May-05 0.00000% ~~0.00~~Loans ~~Other~~in ~~Fee~~Bankruptcy 0~~.00~~ ~~0.00~~Jun-05 0.00000% ~~Pool~~Original ~~Insurance~~Principal ~~Fee~~Balance 0.00 ~~0.00~~Jul-05 0.00000% ~~Spread~~Current 1Principal Balance 0.00 Aug-05 0.00000% Sep-05 0.00000% ~~Spread~~Oct-05 2 0.00000% Nov-05 0.00000% Dec-05 0.00000% ~~Spread~~*The 3text ~~0.00~~reported ~~0.00~~in 0the above table is presented graphically on the monthly bond remittance report.00 ~~Net~~The ~~Interest~~monthly ~~1,387,295~~bond remittance report can be viewed online at www.ctslink.com. Group II 12 ~~1,211,985.43~~Month ~~2,599,280.55~~Bankruptcy ~~Realized~~History* ~~Loss~~New ~~Amount~~Bankruptcy Loans Month Bankruptcy Percentage Loans in Bankruptcy 0 Jan-05 0.00000% Original Principal Balance 0.00 Feb-05 0.00000% ~~Cumulative~~Current ~~Realized~~Principal ~~Loss~~Balance 0.00 Mar-05 0.00000% Apr-05 0.00000% ~~Percentage~~Current ofBankruptcy ~~Cumulative~~Total ~~Losses~~May-05 0.~~0000~~000% Loans in Bankruptcy 0~~.0000~~ Jun-05 0.~~0000~~000% ~~Prepayment~~Original ~~Penalties~~Principal Balance 0.00 Jul-05 0.00000% Current Principal Balance 0.00 ~~Special~~Aug-05 ~~Servicing~~0.000% ~~Fee~~Sep-05 0.00000% Oct-05 0.00000% Nov-05 0.00000% ~~Pass~~Dec-~~Through~~05 ~~Rate 5~~0.~~225159~~000% 5*The text reported in the above table is presented graphically on the monthly bond remittance report.~~410617~~ 5The monthly bond remittance report can be viewed online at www.~~310026~~ctslink.com.

~~Miscellaneous~~Bankruptcy ~~Reporting~~Detail ~~Group~~- ~~Group~~All IMortgage ~~Senior~~Loans ~~Percentage~~in ~~94.589457%~~Bankruptcy ~~Senior~~during ~~Prepayment~~Current ~~Percentage~~Period ~~100.000000%~~Group ~~Subordinate~~Loan ~~Percentage~~Month ~~5.410543%~~Loan ~~Subordinate~~First ~~Prepayment~~State ~~Percentage~~LTV ~~0.000000%~~at ~~Group~~Original ~~Group~~Number IIEntered ~~Senior~~Payment ~~Percentage~~Origination ~~94.572284%~~Principal ~~Senior~~Bankruptcy ~~Prepayment~~Date ~~Percentage~~Balance ~~100.000000%~~No ~~Subordinate~~Bankruptcy ~~Percentage~~Loans ~~5.427716%~~this ~~Subordinate Prepayment Percentage 0.000000%~~Period

~~Prepayment~~Bankruptcy Detail - ~~Prepayments~~All ~~during~~Mortgage ~~Current Period Summary~~ Loans ~~Paid~~in InBankruptcy ~~Full~~during ~~Repurchased Loans Original~~ Current ~~Original~~Period ~~Current~~(continued) ~~Principal Principal Principal Principal~~ Group ~~Count~~Loan ~~Balance~~Current ~~Balance~~Paid ~~Count~~To ~~Balance~~Months ~~Balance~~Current ~~Group~~Approximate INumber 9Principal ~~4,957,226.00~~Date ~~4,909,650.00~~Delinquent 0Loan ~~0.00~~Rate ~~0.00~~Delinquent ~~Group~~Balance IIInterest 9No ~~4,888,322.00~~Bankruptcy ~~4,755,703.28~~Loans 0this ~~0.00 0.00 Total 18 9,845,548.00 9,665,353.28 0 0.00 0.00~~Period

Prepayment Detail - Prepayments during Current Period (continued) Summary Substitution Loans Liquidated Loans Curtailments Original Current Original Current Principal Principal Principal Principal Curtailment Group Count Balance Balance Count Balance Balance Amount Group I 0 0.00 0.00 0 0.00 0.00 88,088.39 Group II 0 0.00 0.00 0 0.00 0.00 1,096,260.69 Total 0 0.00 0.00 0 0.00 0.00 1,184,349.08

Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Group I 0004059303 PA 0.00 01-Jul-2005 92,800.00 92,800.00 Group I 0004077289 CA 0.00 01-Jul-2005 375,000.00 375,000.00 Group I 0054799135 IL 0.00 01-Jun-2005 387,576.00 340,000.00 Group I 0062455805 NV 0.00 01-Jun-2005 456,900.00 456,900.00 Group I 0090053677 CA 0.00 01-Jun-2005 545,000.00 545,000.00 Group I 0091647807 CA 0.00 01-Jun-2005 600,000.00 600,000.00 Group I 0098103555 CO 0.00 01-Jul-2005 740,000.00 740,000.00 Group I 0100168081 FL 0.00 01-Jun-2005 760,000.00 760,000.00 Group I 6269538572 CA 0.00 01-May-2005 999,950.00 999,950.00 Group II 0004060889 AZ 0.00 01-Jul-2005 430,000.00 429,915.63 Group II 0028680940 CA 0.00 01-Apr-2005 348,000.00 348,000.00 Group II 0065043863 CA 0.00 01-Jun-2005 507,472.00 505,387.19 Group II 0090087309 CA 0.00 01-Jun-2005 400,000.00 400,000.00 Group II 0090933957 CA 0.00 01-Jun-2005 940,000.00 940,000.00 Group II 0092029055 CA 0.00 01-Jun-2005 392,000.00 391,838.34 Group II 0092273886 CA 0.00 01-May-2005 414,900.00 414,900.00 Group II 0096759171 CA 0.00 01-Jun-2005 455,950.00 455,950.00 Group II 0097201998 CA 0.00 01-Jun-2005 1,000,000.00 869,187.09

Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning Group I 0004059303 Loan Paid in Full 0 5.625% 360 2 Group I 0004077289 Loan Paid in Full 0 6.000% 360 2 Group I 0054799135 Loan Paid in Full 0 5.875% 360 3 Group I 0062455805 Loan Paid in Full 0 6.125% 360 3 Group I 0090053677 Loan Paid in Full 0 6.500% 360 3 Group I 0091647807 Loan Paid in Full 0 5.750% 360 3 Group I 0098103555 Loan Paid in Full 0 5.625% 360 3 Group I 0100168081 Loan Paid in Full 0 6.125% 360 3 Group I 6269538572 Loan Paid in Full 0 5.875% 360 4 Group II 0004060889 Loan Paid in Full 0 5.625% 360 2 Group II 0028680940 Loan Paid in Full 0 5.750% 360 5 Group II 0065043863 Loan Paid in Full 0 5.875% 360 3 Group II 0090087309 Loan Paid in Full (1) 5.500% 360 3 Group II 0090933957 Loan Paid in Full 0 5.625% 360 3 Group II 0092029055 Loan Paid in Full 0 5.875% 360 3 Group II 0092273886 Loan Paid in Full 0 6.375% 360 4 Group II 0096759171 Loan Paid in Full (1) 5.750% 360 3 Group II 0097201998 Loan Paid in Full (1) 5.875% 360 3

Summary SMM CPR PSA Current Month 1.848% Current Month 20.059% Current Month 3,220.384% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 14.479% N/A Aug-2005 3,374.587% N/A Sep-2005 20.059% N/A Sep-2005 3,220.384% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group I SMM CPR PSA Current Month 1.570% Current Month 17.299% Current Month 2,605.749% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 12.856% N/A Aug-2005 2,745.347% N/A Sep-2005 17.299% N/A Sep-2005 2,605.749% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Group II SMM CPR PSA Current Month 2.178% Current Month 23.219% Current Month 4,044.986% 3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs 12mo Average* PSA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Oct-2004 N/A N/A Oct-2004 N/A N/A Nov-2004 N/A N/A Nov-2004 N/A N/A Dec-2004 N/A N/A Dec-2004 N/A N/A Jan-2005 N/A N/A Jan-2005 N/A N/A Feb-2005 N/A N/A Feb-2005 N/A N/A Mar-2005 N/A N/A Mar-2005 N/A N/A Apr-2005 N/A N/A Apr-2005 N/A N/A May-2005 N/A N/A May-2005 N/A N/A Jun-2005 N/A N/A Jun-2005 N/A N/A Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 16.388% N/A Aug-2005 4,291.153% N/A Sep-2005 23.219% N/A Sep-2005 4,044.986% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled Principal) Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12) PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS)) Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal Balance))

Realized Loss Report - Collateral Summary MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www. monthly bond remittance report can be viewed online at ~~www.~~ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www. monthly bond remittance report can be viewed online at ~~www.~~ctslink.com. www.ctslink.com. Group I MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www. monthly bond remittance report can be viewed online at ~~www.~~ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www. monthly bond remittance report can be viewed online at ~~www.~~ctslink.com. www.ctslink.com. Group II MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs 12mo Average* SDA: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www. monthly bond remittance report can be viewed online at ~~www.~~ctslink.com. www.ctslink.com. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Oct~~Jan-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Nov~~Feb-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Dec~~Mar-~~2004~~2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Jan~~Apr-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Feb~~May-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Mar~~Jun-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~Apr~~Jul-2005 N/A N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~May~~Aug-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jun~~Sep-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Jul~~Oct-2005 ~~N/A~~0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Aug~~Nov-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A ~~Sep~~Dec-2005 0.000% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www. monthly bond remittance report can be viewed online at ~~www.~~ctslink.com. www.ctslink.com. Calculation Methodology: Monthly Default Rate (MDR): sum(Beg Principal Balance of Liquidated Loans)/ sum(Beg Principal Balance). Conditional Default Rate (CDR): 1-((1-MDR)^12) SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR/(WAS*0.02) else if WAS is greater than 30 and less than or equal to 60 then CDR/0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR/(0.6 - ((WAS-60)*0.0095)) else if WAS is greater than 120 then CDR/0.03 Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

Prepayment - Voluntary Prepayments

Filing Compare · Bear Stearns ARM Trust 2005-7