SECURITIES AND EXCHANGE COMMISSION FORM 8-K. Current report filing

SECURITIES AND EXCHANGE COMMISSION FORM 8-K Current report filing Filing Date: 2005-08-29 Period of Report: 2005-08-25 SEC Accession No. 0001020242-05-000912 (HTML Version on secdatabase.com) CIK:1328475 State of Incorp.:DE Fiscal Year End: 1231 Type: 8-K Act: 34 File No.: 333-120274-20 Film No.: 051054304 SIC: 6189 Asset-backed securities FILER Mailing Address 85 BROAD STREET NEW YORK NY 10004 Business Address 85 BROAD STREET NEW YORK NY 10004

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): August 25, 2005 (Date of earliest event reported) GS Mortgage Securities Corp. (as Depositor under the Pooling and Servicing Agreement, dated as May 1, 2005, providing for the issuance of Mortgage Pass-Through Certificates Series ) (Exact name of registrant as specified in charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-120274-20 13-3387389 (Commission File Number) (I.R.S. Employer Identification No.) 85 Broad Street New York, New York 10004 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (212) 902-1000 (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(b) under the Exchange Act (17 CFR 240.14a-12(b)) [ ] 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 Attached hereto is a copy of the Monthly Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 9.01 Financial Statements and Exhibits (c) Exhibits: Exhibit No. Description 99.1 Monthly Remittance Statement to the Certificateholders dated as of August 25, 2005. Signatures 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. Deutsche Bank National Trust Company, in its capacity as Trustee under the Pooling and Servicing Agreement on behalf of GS Mortgage Securities Corp., Registrant Date: Aug 26, 2005 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President

EXHIBIT INDEX DOCUMENT 99.1 Monthly Remittance Statement to the Certificateholders dated as of August 25, 2005. External Parties Page 1 of 24 Certificate Payment Report Current Period Distribution - REMIC IV Seller Goldman Sachs Mortgage Securities Table of Contents Page 1. Certificate Payment Report 2 2. Collection Account Report 4 3. Credit Enhancement Report 6 4. Collateral Report 7 Certificate Insurer(s) 5. Delinquency Report 10 6. REO Report 11 7. Foreclosure Report 12 8. Prepayment Report 13 9. Prepayment Detail Report 16 10. Realized Loss Report 19 Servicer(s) 11. Realized Loss Detail Report 22 Countrywide Funding Corporation 12. Triggers and Adj. Cert. Report 23 13. Other Related Information 24 Underwriter(s) Goldman Sachs & Co. Number of Pages 24 Dates Contacts Cut-Off Date: May 01, 2005 Hang Luu Close Date: May 26, 2005 Administrator First Distribution Date: June 27, 2005 (714) 247-6000 hang-thai.luu@db.com Address: 1761 East St. Andrew Place, Santa Ana, CA 92705 Distribution Date: August 25, 2005 Record Date: July 29, 2005 Factor Information: (800) 735-7777 August 24, 2005 Main Phone Number: (714) 247-6000 https://www.tss.db.com/invr Prior Current Class Original Principal Realized Deferred Principal Class Type Cur Face Value Balance Interest Principal Distribution Loss Interest Balance (7)=(1)-(3)- (1) (2) (3) (4)=(2)+(3) (5) (6) (5)+(6) A-1 SR $ 269,282,000.00 244,758,396.05 748,212.82 22,932,516.90 23,680,729.720.00 0.00 221,825,879.15 A-2 SR $ 145,242,000.00 145,242,000.00 457,754.37 0.00 457,754.37 0.00 0.00 145,242,000.00 A-3 SR $ 77,440,000.00 77,440,000.00 253,400.89 0.00 253,400.89 0.00 0.00 77,440,000.00 M-1 SUB $ 46,190,000.00 46,190,000.00 154,723.67 0.00 154,723.67 0.00 0.00 46,190,000.00 M-2 SUB $ 31,620,000.00 31,620,000.00 111,908.45 0.00 111,908.45 0.00 0.00 31,620,000.00 M-3 SUB $ 9,300,000.00 9,300,000.00 33,314.67 0.00 33,314.67 0.00 0.00 9,300,000.00 M-4 SUB $ 7,749,000.00 7,749,000.00 31,095.02 0.00 31,095.02 0.00 0.00 7,749,000.00 M-5 SUB $ 5,580,000.00 5,580,000.00 22,871.80 0.00 22,871.80 0.00 0.00 5,580,000.00 M-6 SUB $ 5,270,000.00 5,270,000.00 24,097.08 0.00 24,097.08 0.00 0.00 5,270,000.00 B-1 SUB $ 4,340,000.00 4,340,000.00 24,142.46 0.00 24,142.46 0.00 0.00 4,340,000.00 B-2 SUB $ 6,200,000.00 6,200,000.00 34,489.22 0.00 34,489.22 0.00 0.00 6,200,000.00 X NOF $ 11,780,378.39 11,779,877.99 1,236,730.39 0.00 1,236,730.39 0.00 0.00 11,779,877.99 P NOF $ 0.00 0.00 334,130.07 0.00 334,130.07 0.00 0.00 0.00 R-1 RES $ 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 R-2 RES $ 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 619,993,578.39 595,469,274.04 3,466,870.91 22,932,516.90 26,399,387.810.00 0.00 572,536,757.14 Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face- Orig. Principal Prior Current Period Period (with Notional) Principal Principal Class Starting Ending Method Cusip Balance Balance Interest Principal Distribution Balance (1) (1) (2) (3) (4)=(2)+(3) (5) A-1 07/25/05 08/24/05 A-Act/360 36242DZ71 269,282,000.00 908.929658 2.778547 85.161715 87.940262 823.767943 A-2 07/25/05 08/24/05 A-Act/360 36242DZ89 145,242,000.00 1,000.000000 3.151667 0.000000 3.151667 1,000.000000 A-3 07/25/05 08/24/05 A-Act/360 36242DZ97 77,440,000.00 1,000.000000 3.272222 0.000000 3.272222 1,000.000000

M-1 07/25/05 08/24/05 A-Act/360 36242D2A0 46,190,000.00 1,000.000000 3.349722 0.000000 3.349722 1,000.000000 M-2 07/25/05 08/24/05 A-Act/360 36242D2B8 31,620,000.00 1,000.000000 3.539167 0.000000 3.539167 1,000.000000 M-3 07/25/05 08/24/05 A-Act/360 36242D2C6 9,300,000.00 1,000.000000 3.582223 0.000000 3.582223 1,000.000000 M-4 07/25/05 08/24/05 A-Act/360 36242D2D4 7,749,000.00 1,000.000000 4.012778 0.000000 4.012778 1,000.000000 M-5 07/25/05 08/24/05 A-Act/360 36242D2E2 5,580,000.00 1,000.000000 4.098889 0.000000 4.098889 1,000.000000 M-6 07/25/05 08/24/05 A-Act/360 36242D3A9 5,270,000.00 1,000.000000 4.572501 0.000000 4.572501 1,000.000000 B-1 07/25/05 08/24/05 A-Act/360 36242D3B7 4,340,000.00 1,000.000000 5.562779 0.000000 5.562779 1,000.000000 B-2 07/25/05 08/24/05 A-Act/360 36242D3C5 6,200,000.00 1,000.000000 5.562777 0.000000 5.562777 1,000.000000 X 07/01/05 07/30/05 A-30/360 36242D4P5 11,780,378.39 999.957523 104.982230 0.000000 104.982230 999.957523 P 07/01/05 07/30/05 A-30/360 36242D4Q3 0.00 0.000000 0.000000 0.000000 0.000000 0.000000 R-1 07/01/05 07/30/05 A-30/360 36242D4M2 100.00 0.000000 0.000000 0.000000 0.000000 0.000000 R-2 07/01/05 07/30/05 A-30/360 36242D4N0 100.00 0.000000 0.000000 0.000000 0.000000 0.000000 Page 2 of 24 Distribution to Date - REMIC IV Current Original Unscheduled Scheduled Realized Deferred Principal Class Face Value Interest Principal Principal Principal Distribution Loss Interest Balance (9)=(1)-(5)- (1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) (7)+(8) A-1 269,282,000.00 2,190,786.01 46,284,309.34 1,171,811.51 47,456,120.85 49,646,906.860.00 0.00 221,825,879.15 A-2 145,242,000.00 1,279,511.98 0.00 0.00 0.00 1,279,511.98 0.00 0.00 145,242,000.00 A-3 77,440,000.00 709,614.22 0.00 0.00 0.00 709,614.22 0.00 0.00 77,440,000.00 M-1 46,190,000.00 433,765.98 0.00 0.00 0.00 433,765.98 0.00 0.00 46,190,000.00 M-2 31,620,000.00 314,524.70 0.00 0.00 0.00 314,524.70 0.00 0.00 31,620,000.00 M-3 9,300,000.00 93,682.69 0.00 0.00 0.00 93,682.69 0.00 0.00 9,300,000.00 M-4 7,749,000.00 87,852.71 0.00 0.00 0.00 87,852.71 0.00 0.00 7,749,000.00 M-5 5,580,000.00 64,672.61 0.00 0.00 0.00 64,672.61 0.00 0.00 5,580,000.00 M-6 5,270,000.00 68,406.46 0.00 0.00 0.00 68,406.46 0.00 0.00 5,270,000.00 B-1 4,340,000.00 68,950.87 0.00 0.00 0.00 68,950.87 0.00 0.00 4,340,000.00 B-2 6,200,000.00 98,501.23 0.00 0.00 0.00 98,501.23 0.00 0.00 6,200,000.00 X 11,780,378.39 3,859,669.03 483.68 16.72 500.40 3,860,169.43 0.00 0.00 11,779,877.99 P 0.00 719,393.75 0.00 0.00 0.00 719,393.75 0.00 0.00 0.00 R-1 100.00 0.00 96.66 3.34 100.00 100.00 0.00 0.00 0.00 R-2 100.00 0.00 96.66 3.34 100.00 100.00 0.00 0.00 0.00 619,993,578.39 9,989,332.24 46,284,986.34 1,171,834.91 47,456,821.25 57,446,153.490.00 0.00 572,536,757.14 Interest Detail - REMIC IV Pass Prior Principal Non- Prior Unscheduled Paid or Current Through (with Notional) Accrued Supported Unpaid Interest Optimal Deferred Unpaid Class Rate Balance Interest Interest SF Interest Adjustment Interest Interest Interest (1) (2) (3) (4) (5)=(1)-(2)+(3)+(4) (6) (7)=(5)-(6) A-1 3.55000% 244,758,396.05 748,212.82 0.00 0.00 0.00 748,212.82 748,212.82 0.00 A-2 3.66000% 145,242,000.00 457,754.37 0.00 0.00 0.00 457,754.37 457,754.37 0.00 A-3 3.80000% 77,440,000.00 253,400.89 0.00 0.00 0.00 253,400.89 253,400.89 0.00 M-1 3.89000% 46,190,000.00 154,723.67 0.00 0.00 0.00 154,723.67 154,723.67 0.00 M-2 4.11000% 31,620,000.00 111,908.45 0.00 0.00 0.00 111,908.45 111,908.45 0.00 M-3 4.16000% 9,300,000.00 33,314.67 0.00 0.00 0.00 33,314.67 33,314.67 0.00 M-4 4.66000% 7,749,000.00 31,095.02 0.00 0.00 0.00 31,095.02 31,095.02 0.00 M-5 4.76000% 5,580,000.00 22,871.80 0.00 0.00 0.00 22,871.80 22,871.80 0.00 M-6 5.31000% 5,270,000.00 24,097.08 0.00 0.00 0.00 24,097.08 24,097.08 0.00 B-1 6.10950% 4,340,000.00 22,832.57 0.00 0.00 0.00 22,832.57 24,142.46 0.00 B-2 6.10950% 6,200,000.00 32,617.96 0.00 0.00 0.00 32,617.96 34,489.22 0.00 X 125.98403% 11,779,877.99 0.00-3,273,251.57 0.00 0.00 4,653,673.84 1,236,730.39 3,416,943.45 P 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 334,130.07 0.00 R-1 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 595,469,274.04 1,892,829.30-3,273,251.57 0.00 0.00 6,546,503.14 3,466,870.91 3,416,943.45 Page 3 of 24 Collection Account Report SUMMARY Principal Collections 22,932,516.90 Principal Withrawals 0.00 Principal Other Accounts 0.00 TOTAL NET PRINCIPAL 22,932,516.90 Interest Collections 3,371,671.70 Interest Withdrawals -0.00 Interest Other Accounts 334,130.07 Interest Fees -238,930.88 TOTAL NET INTEREST 3,466,870.89 TOTAL AVAILABLE FUNDS FOR DISTRIBUTION 26,399,387.79 PRINCIPAL - COLLECTIONS Scheduled Principal Received 380,126.73 Prepayments In Full 16,488,830.73 Curtailments 20,222.39 Liquidations 0.00 Insurance Principal 0.00 Repurchased Principal Amounts 6,043,337.05 Other Principal 0.00 Realized Loss Of Principal -0.00 Delinquent Principal -321,088.21 Advanced Principal 321,088.21

TOTAL PRINCIPAL COLLECTED 22,932,516.90 PRINCIPAL - WITHDRAWALS SPACE INTENTIONALLY LEFT BLANK PRINCIPAL - OTHER ACCOUNTS TOTAL OTHER ACCOUNTS PRINCIPAL 0.00 Page 4 of 24 INTEREST - COLLECTIONS Scheduled Interest 3,536,222.96 Liquidation Interest 0.00 Repurchased Interest 38,362.45 Insurance Interest 0.00 Other Interest 0.00 Relief Act Interest Shortfalls -0.00 Prepayment Interest Shortfalls -47,313.88 Compensating Interest 47,313.88 Delinquent Interest -2,929,557.92 Interest Advanced 2,726,644.21 TOTAL INTEREST COLLECTED 3,371,671.70 INTEREST - WITHDRAWALS Nonrecoverable Advances TOTAL INTEREST WITHDRAWALS 0.00 INTEREST - OTHER ACCOUNTS Prepayment Charges 334,130.07 TOTAL INTEREST OTHER ACCOUNTS 334,130.07 INTEREST - FEES Current Servicing Fees 45,198.49 Current Trustee Fees 2,084.14 Net Swap Payment 191,648.24 TOTAL INTEREST OTHER FEES 238,930.88 Page 5 of 24 Credit Enhancement Report ACCOUNTS Beginning Excess Reserve Fund Account Balance 0.00 Basis Risk CarryForward Amount Paid 3,181.15 Basis Risk CarryForward Amount Unpaid 0.000 Swap Payment from SWAP Provider 1,697,455.86 Swap Payment to SWAP Provider 1,889,104.11 Net Swap Payment 191,648.24 Ending Excess Reserve Fund Account Balance 0.00 INSURANCE SPACE INTENTIONALLY LEFT BLANK STRUCTURAL FEATURES Overcollateralization Amount 11,779,877.99 Overcollateralization Target Amount 11,779,877.99 Overcollateralization Deficiency Amount 0.00 Overcollateralization Release Amount 0.00 Page 6 of 24 Collateral Report COLLATERAL Loan Count: Original 2,867 Prior 2,772 Prefunding 0 Scheduled Paid Offs -0 Full Voluntary Prepayments -68 Repurchases -30 Liquidations -0 Current 2,674 Principal Balance: Original 619,993,578.39 Prior 595,469,274.04 Prefunding 0.00 Scheduled Principal -380,126.73 Partial Prepayments -20,222.39 Full Voluntary Prepayments -16,488,830.73 Repurchases -6,043,337.05 Liquidations -0.00 Current 572,536,757.14 PREFUNDING SPACE INTENTIONALLY LEFT BLANK

Page 7 of 24 CHARACTERISTICS Weighted Average Coupon Original 7.20685% Weighted Average Coupon Prior 7.20619% Weighted Average Coupon Current 7.20357% Weighted Average Months to Maturity Original 353 Weighted Average Months to Maturity Prior 352 Weighted Average Months to Maturity Current 351 Weighted Avg Remaining Amortization Term Original 353 Weighted Avg Remaining Amortization Term Prior 352 Weighted Avg Remaining Amortization Term Current 351 Weighted Average Seasoning Original 5.16 Weighted Average Seasoning Prior 6.15 Weighted Average Seasoning Current 7.14 Page 8 of 24 ARM CHARACTERISTICS Weighted Average Margin Original 5.83736% Weighted Average Margin Prior 5.83556% Weighted Average Margin Current 5.83444% Weighted Average Max Rate Original 14.24385% Weighted Average Max Rate Prior 14.24143% Weighted Average Max Rate Current 14.23964% Weighted Average Min Rate Original 7.24949% Weighted Average Min Rate Prior 7.24719% Weighted Average Min Rate Current 7.24482% Weighted Average Cap Up Original 1.49611% Weighted Average Cap Up Prior 1.49602% Weighted Average Cap Up Current 1.49629% Weighted Average Cap Down Original 1.49611% Weighted Average Cap Down Prior 1.49602% Weighted Average Cap Down Current 1.49629% SERVICING FEES & ADVANCES Current Servicing Fees 45,198.49 Delinquent Servicing Fees 202,913.70 TOTAL SERVICING FEES 248,112.21 Compensating Interest -47,313.88 Delinquent Servicing Fees -202,913.70 COLLECTED SERVICING FEES -2,115.38 Aggregate Advances with respect to this Distribution 3,047,732.42 ADDITIONAL COLLATERAL INFORMATION Net Prepayment Interest Shortfall 0.00 Current LIBOR Rate 3.460000% Next LIBOR Rate 3.641250% Page 9 of 24 Delinquency Report TOTAL < 1 PAYMENT 1 PAYMENT 2 PAYMENTS 3+ PAYMENTS TOTAL Balance 12,624,120.55 3,029,022.68 989,503.65 16,642,646.88 DELINQUENT % Balance 2.20% 0.53% 0.17% 2.91% # Loans 57 13 5 75 % # Loans 2.13% 0.49% 0.19% 2.80% Balance 0.00 0.00 2,880,545.14 2,697,569.43 5,578,114.57 % Balance 0.00% 0.00% 0.50% 0.47% 0.97% FORECLOSURE # Loans 0 0 13 10 23 % # Loans 0.00% 0.00% 0.49% 0.37% 0.86% Balance 424,693.21 410,529.05 49,942.86 0.00 885,165.12 % Balance 0.07% 0.07% 0.01% 0.00% 0.15% BANKRUPTCY # Loans 2 1 1 0 4 % # Loans 0.07% 0.04% 0.04% 0.00% 0.15% Balance 0.00 0.00 0.00 0.00 0.00 REO % Balance 0.00% 0.00% 0.00% 0.00% 0.00% # Loans 0 0 0 0 0 % # Loans 0.00% 0.00% 0.00% 0.00% 0.00% Balance 424,693.21 13,034,649.60 5,959,510.68 3,687,073.08 23,105,926.57 TOTAL % Balance 0.07% 2.28% 1.04% 0.64% 4.04% # Loans 2 58 27 15 102 % # Loans 0.07% 2.17% 1.01% 0.56% 3.81% Page 10 of 24

REO Report Loan Number Original Stated Current State & First & Principal Principal Paid to Note LTV at Original Payment Loan Group Balance Balance Date Rate Origination Term Date TOTAL Page 11 of 24 Foreclosure Report Loan Number Original Stated Current State & First & Principal Principal Paid to Note LTV at Original Payment Loan Group Balance Balance Date Rate Origination Term Date 409171022 1 316,000.00 313,275.68 01-Mar-2005 6.875% CA - 80.00% 360 01-Nov-2004 411040092 1 560,000.00 555,460.40 01-Mar-2005 5.999% NV - 70.00% 360 01-Jan-2005 411107657 1 165,600.00 164,857.04 01-Mar-2005 9.000% MO - 90.00%360 01-Jan-2005 411164686 1 121,500.00 120,932.19 01-Mar-2005 8.125% NM - 83.79%360 01-Feb-2005 411189449 1 262,400.00 262,400.00 01-Mar-2005 6.990% UT - 80.00% 360 01-Jan-2005 411222718 1 204,176.00 203,111.22 01-Apr-2005 7.600% AZ - 85.00% 360 01-Feb-2005 411296267 1 50,000.00 49,804.40 01-Apr-2005 8.999% KY - 67.57% 360 01-Feb-2005 411308513 1 162,000.00 161,940.89 01-Apr-2005 7.125% CA - 100.00% 360 01-Feb-2005 411308621 1 212,500.00 211,341.33 01-Mar-2005 7.350% FL - 85.00% 360 01-Feb-2005 412066328 1 187,200.00 186,301.11 01-Apr-2005 7.990% CA - 80.00% 360 01-Feb-2005 412077273 1 264,000.00 262,455.41 01-Apr-2005 6.990% CA - 76.08% 360 01-Feb-2005 412157289 1 324,000.00 322,593.60 01-Apr-2005 8.490% GA - 90.00% 360 01-Feb-2005 412157355 1 245,650.00 244,687.35 01-Apr-2005 8.990% CA - 85.00% 360 01-Feb-2005 412157455 1 143,200.00 142,512.37 01-Mar-2005 7.990% MA - 80.00%360 01-Feb-2005 412157461 1 312,000.00 310,087.56 01-Apr-2005 6.750% CA - 80.00% 360 01-Feb-2005 412168925 1 140,000.00 139,315.57 01-Apr-2005 7.900% GA - 80.00% 360 01-Feb-2005 412169612 1 415,200.00 413,206.41 01-Mar-2005 7.990% MA - 80.00%360 01-Feb-2005 412202568 1 124,000.00 123,491.34 01-Apr-2005 7.990% GA - 80.00% 360 01-Mar-2005 412236915 1 190,400.00 189,040.29 01-Apr-2005 5.950% CA - 85.00% 360 01-Feb-2005 412278687 1 371,250.00 369,652.19 01-Mar-2005 7.750% CA - 75.00% 360 01-Mar-2005 412301355 1 144,500.00 143,931.82 01-Mar-2005 8.200% PA - 85.00% 360 01-Mar-2005 501067165 1 347,000.00 345,351.06 01-Apr-2005 7.250% CA - 84.63% 360 01-Mar-2005 501109750 1 344,000.00 342,365.34 01-Apr-2005 7.250% NJ - 80.00% 360 01-Mar-2005 TOTAL 5,606,576.00 5,578,114.57 Page 12 of 24 Prepayment Report VOLUNTARY PREPAYMENTS Current Number of Paid in Full Loans 68 Number of Repurchased Loans 30 Number of Loans Prepaid in Full 98 Curtailments Amount 20,222.39 Paid in Full Balance 16,488,830.73 Repurchased Loans Balance 6,043,337.05 Prepayment Amount 22,552,390.17 Cumulative Number of Paid in Full Loans 163 Number of Repurchased Loans 30 Number of Loans Prepaid in Full 193 Paid in Full Balance 40,158,577.10 Repurchased Loans Balance 6,043,337.05 Curtailments Amount 83,072.19 Prepayment Amount 46,284,986.34 Page 13 of 24 VOLUNTARY PREPAYMENTS RATES SMM 3.79% 3 Months Avg SMM 2.56% 12 Months Avg SMM 2.56% Avg SMM Since Cut-off 2.56% CPR 37.10% 3 Months Avg CPR 26.72% 12 Months Avg CPR 26.72% Avg CPR Since Cut-off 26.72% PSA 2,596.36% 3 Months Avg PSA Approximation 2,171.16% 12 Months Avg PSA Approximation 2,171.16% Avg PSA Since Cut-off Approximation 2,171.16% Page 14 of 24

PREPAYMENT CALCULATION METHODOLOGY Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.002*min(30,WAS)) Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn)*(1-SMMn+1)*...*(1-SMMm)]^(1/months in period n,m) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*Avg WASn,m)) Average WASn,m: (min(30,wasn)+min(30,wasn+1)+...+min(30,wasm)/(number of months in the period n,m) Weighted Average Seasoning (WAS) Dates correspond to distribution dates. Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases. Page 15 of 24 Prepayment Detail Report Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution Loan Number Original Current State & Type Prepayment First & Loan Principal Prepayment Prepayment Note LTV at & Payment Loan Group Status Balance Amount Date Rate Origination Original Term Date 408310718 1 80,400.00 79,888.72 20-Jul-2005 7.875% FL - 80.00% Paid Off - 360 01-Nov-2004 409113570 1 79,800.00 79,098.56 05-Jul-2005 6.450% MD - 100.00% Paid Off - 360 01-Dec-2004 409170882 1 165,600.00 164,661.87 01-Jul-2005 7.500% NJ - 90.00% Paid Off - 360 01-Jan-2005 410028670 1 46,750.00 46,442.70 14-Jul-2005 7.599% TN - 85.00% Paid Off - 360 01-Jan-2005 410050760 1 132,750.00 131,899.51 07-Jul-2005 7.250% NJ - 93.49% Paid Off - 360 01-Dec-2004 410119125 1 360,000.00 359,990.91 15-Jul-2005 5.990% CA - 79.12% Paid Off - 360 01-Jan-2005 410154964 1 353,520.00 351,124.75 29-Jul-2005 6.250% NJ - 80.00% Paid Off - 360 01-Jan-2005 410198598 1 194,000.00 193,068.46 19-Jul-2005 7.990% MD - 92.38% Paid Off - 360 01-Jan-2005 410200222 1 240,000.00 238,849.72 19-Jul-2005 7.999% VA - 80.00% Paid Off - 360 01-Jan-2005 410212438 1 187,000.00 185,970.40 01-Jul-2005 7.990% CA - 72.48% Paid Off - 360 01-Dec-2004 410224338 1 211,500.00 210,484.48 27-Jul-2005 7.990% NJ - 60.09% Paid Off - 360 01-Jan-2005 410279658 1 245,000.00 243,307.35 20-Jul-2005 6.125% NY - 77.78% Paid Off - 360 01-Jan-2005 410281327 1 363,750.00 362,327.14 05-Jul-2005 8.999% MD - 75.00% Paid Off - 360 01-Jan-2005 411025826 1 174,900.00 174,493.14 05-Jul-2005 11.750% DE - 100.00% Paid Off - 360 01-Jan-2005 411038095 1 289,000.00 287,748.10 05-Jul-2005 8.500% MD - 85.00% Paid Off - 360 01-Jan-2005 411038138 1 340,000.00 338,109.38 27-Jul-2005 7.250% CA - 80.00% Paid Off - 360 01-Jan-2005 411038187 1 359,000.00 356,852.09 14-Jul-2005 6.875% CA - 94.97% Paid Off - 360 01-Jan-2005 411038335 1 134,291.00 133,691.31 27-Jul-2005 8.350% CA - 84.95% Paid Off - 360 01-Jan-2005 411038917 1 107,000.00 106,311.73 11-Jul-2005 6.500% CA - 71.33% Paid Off - 360 01-Jan-2005 411051594 1 124,000.00 123,556.68 05-Jul-2005 7.750% NJ - 80.00% Paid Off - 360 01-Mar-2005 411107391 1 336,000.00 334,349.09 18-Jul-2005 7.875% FL - 80.00% Paid Off - 360 01-Jan-2005 411107966 1 221,600.00 220,737.44 25-Jul-2005 8.250% RI - 80.00% Paid Off - 360 01-Feb-2005 411110209 1 252,000.00 252,000.00 19-Jul-2005 5.950% CA - 80.00% Paid Off - 360 01-Feb-2005 411121251 1 360,000.00 357,392.68 14-Jul-2005 5.875% CA - 80.00% Paid Off - 360 01-Jan-2005 411121838 1 240,000.00 239,093.56 11-Jul-2005 8.399% NY - 80.00% Paid Off - 360 01-Feb-2005 411152825 1 142,500.00 141,971.66 18-Jul-2005 8.490% VA - 95.00% Paid Off - 360 01-Feb-2005 411164280 1 222,400.00 221,122.47 08-Jul-2005 7.125% NJ - 80.00% Paid Off - 360 01-Jan-2005 411165692 1 90,950.00 90,584.59 15-Jul-2005 8.125% NM - 85.00% Paid Off - 360 01-Feb-2005 411176399 1 198,000.00 196,664.12 20-Jul-2005 6.250% CA - 70.97% Paid Off - 360 01-Jan-2005 411176467 1 153,600.00 152,612.05 28-Jul-2005 6.500% CA - 80.00% Paid Off - 360 01-Jan-2005 411188335 1 208,792.00 207,231.72 07-Jul-2005 6.500% CA - 80.00% Paid Off - 360 01-Jan-2005 411188528 1 308,000.00 306,201.14 13-Jul-2005 6.999% FL - 80.00% Paid Off - 360 01-Jan-2005 411188618 1 499,999.00 499,999.00 05-Jul-2005 5.750% CA - 84.75% Paid Off - 360 01-Jan-2005 411188925 1 436,500.00 434,775.30 20-Jul-2005 8.950% GA - 90.00% Paid Off - 360 01-Jan-2005 411189484 1 153,000.00 152,039.25 27-Jul-2005 6.625% CA - 85.00% Paid Off - 360 01-Jan-2005 411233383 1 264,800.00 263,378.14 14-Jul-2005 6.750% NY - 80.00% Paid Off - 360 01-Feb-2005 411233948 1 348,500.00 347,553.44 15-Jul-2005 9.990% NJ - 85.00% Paid Off - 360 01-Feb-2005 Page 16 of 24 Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution Loan Number Original Current State & Type Prepayment First & Loan Principal Prepayment Prepayment Note LTV at & Payment Loan Group Status Balance Amount Date Rate Origination Original Term Date 411296615 1 175,920.00 175,116.67 14-Jul-2005 8.240% IL - 80.00% Paid Off - 360 01-Jan-2005 412010562 1 153,000.00 152,517.78 15-Jul-2005 8.375% PA - 85.00% Paid Off - 360 01-Mar-2005 412022047 1 212,500.00 211,526.74 19-Jul-2005 7.490% CA - 85.00% Paid Off - 360 01-Feb-2005 412022199 1 339,000.00 337,680.46 21-Jul-2005 8.250% MD - 89.21% Paid Off - 360 01-Feb-2005 412023236 1 123,368.00 122,794.71 29-Jul-2005 7.375% NV - 80.00% Paid Off - 360 01-Feb-2005 412033552 1 193,800.00 193,135.93 21-Jul-2005 8.875% FL - 85.00% Paid Off - 360 01-Feb-2005 412034388 1 338,000.00 338,000.00 26-Jul-2005 5.250% FL - 78.61% Paid Off - 360 01-Feb-2005 412034459 1 445,000.00 443,285.98 29-Jul-2005 7.375% NJ - 100.00% Paid Off - 360 01-Mar-2005 412077391 1 382,500.00 380,812.28 01-Jul-2005 7.625% CA - 85.00% Paid Off - 360 01-Feb-2005 412077606 1 229,600.00 228,224.37 15-Jul-2005 6.125% GA - 80.00% Paid Off - 360 01-Feb-2005 412102351 1 450,500.00 448,247.38 27-Jul-2005 6.990% NY - 85.00% Paid Off - 360 01-Feb-2005 412103169 1 172,900.00 172,322.48 12-Jul-2005 8.999% FL - 95.00% Paid Off - 360 01-Feb-2005 412133977 1 94,400.00 93,971.54 26-Jul-2005 7.490% CA - 80.00% Paid Off - 360 01-Feb-2005 412134432 1 131,750.00 131,420.78 26-Jul-2005 9.500% GA - 85.00% Paid Off - 360 01-Mar-2005 412145346 1 224,000.00 222,807.89 29-Jul-2005 6.740% IL - 80.00% Paid Off - 360 01-Feb-2005 412145399 1 140,000.00 139,567.42 01-Jul-2005 9.375% CT - 66.67% Paid Off - 360 01-Feb-2005 412157314 1 357,000.00 355,782.77 29-Jul-2005 7.990% CA - 85.00% Paid Off - 360 01-Mar-2005 412202532 1 272,000.00 272,000.00 29-Jul-2005 6.490% CA - 80.00% Paid Off - 360 01-Feb-2005 412213528 1 273,000.00 271,882.20 06-Jul-2005 7.999% IL - 89.51% Paid Off - 360 01-Feb-2005 412214052 1 160,000.00 159,468.46 14-Jul-2005 8.115% MA - 80.00% Paid Off - 360 01-Mar-2005 412214580 1 206,550.00 205,792.96 20-Jul-2005 7.625% AZ - 90.00% Paid Off - 360 01-Mar-2005 412226441 1 412,250.00 410,848.09 08-Jul-2005 7.999% CA - 85.00% Paid Off - 360 01-Mar-2005 412289098 1 441,936.00 440,342.04 20-Jul-2005 8.625% MD - 80.00% Paid Off - 360 01-Feb-2005 412291016 1 500,000.00 498,150.09 20-Jul-2005 8.500% MD - 75.58% Paid Off - 360 01-Feb-2005 412313001 1 236,000.00 235,183.31 11-Jul-2005 7.999% CA - 81.94% Paid Off - 360 01-Mar-2005 501111352 1 80,000.00 79,711.05 29-Jul-2005 7.699% MI - 80.00% Paid Off - 360 01-Mar-2005 501113073 1 310,000.00 310,000.00 20-Jul-2005 7.250% OR - 84.93% Paid Off - 360 01-Mar-2005 501124163 1 307,500.00 306,278.48 07-Jul-2005 7.250% VA - 82.00% Paid Off - 360 01-Mar-2005

501136058 1 199,110.00 198,284.34 12-Jul-2005 7.000% CA - 80.00% Paid Off - 360 01-Mar-2005 501179252 1 248,000.00 246,971.41 06-Jul-2005 6.999% FL - 80.00% Paid Off - 360 01-Mar-2005 501246870 1 121,600.00 121,120.47 18-Jul-2005 7.425% FL - 46.77% Paid Off - 360 01-Mar-2005 408278395 1 196,000.00 196,000.00 29-Jul-2005 6.625% CO - 80.00% Repur/Subs - 360 01-Oct-2004 409090378 1 153,600.00 153,020.00 29-Jul-2005 8.400% FL - 80.00% Repur/Subs - 360 01-Feb-2005 409103327 1 167,200.00 166,270.26 29-Jul-2005 7.990% NV - 80.00% Repur/Subs - 360 01-Dec-2004 410049364 1 50,000.00 49,783.40 29-Jul-2005 8.500% AR - 73.53% Repur/Subs - 360 01-Jan-2005 410049517 1 281,562.00 280,071.51 29-Jul-2005 7.500% CA - 85.00% Repur/Subs - 360 01-Jan-2005 410143508 1 264,000.00 262,495.59 29-Jul-2005 7.125% NJ - 80.00% Repur/Subs - 360 01-Jan-2005 410155148 1 255,600.00 254,435.27 29-Jul-2005 8.250% NJ - 90.00% Repur/Subs - 360 01-Jan-2005 Page 17 of 24 Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution Loan Number Original Current State & Type Prepayment First & Loan Principal Prepayment Prepayment Note LTV at & Payment Loan Group Status Balance Amount Date Rate Origination Original Term Date 410293033 1 125,000.00 123,842.42 29-Jul-2005 8.500% NJ - 36.23% Repur/Subs - 360 01-Jan-2005 411014359 1 277,000.00 275,209.85 29-Jul-2005 6.500% CA - 73.87% Repur/Subs - 360 01-Jan-2005 411014930 1 349,000.00 347,488.20 29-Jul-2005 8.500% TX - 87.25% Repur/Subs - 360 01-Jan-2005 411026380 1 115,200.00 114,700.85 29-Jul-2005 8.499% OH - 90.00% Repur/Subs - 360 01-Jan-2005 411040580 1 440,000.00 437,169.96 29-Jul-2005 6.500% NY - 80.00% Repur/Subs - 360 01-Jan-2005 411041013 1 94,350.00 93,999.54 29-Jul-2005 9.250% NY - 85.00% Repur/Subs - 360 01-Jan-2005 411049788 1 83,200.00 82,800.47 29-Jul-2005 7.990% NY - 80.00% Repur/Subs - 360 01-Jan-2005 411083148 1 172,800.00 172,800.00 29-Jul-2005 6.990% GA - 80.00% Repur/Subs - 360 01-Feb-2005 411084111 1 146,700.00 145,995.55 29-Jul-2005 7.990% VA - 90.00% Repur/Subs - 360 01-Jan-2005 411095671 1 124,400.00 123,518.28 29-Jul-2005 5.990% CT - 80.00% Repur/Subs - 360 01-Jan-2005 411107549 1 119,000.00 118,369.91 29-Jul-2005 7.499% MO - 85.00% Repur/Subs - 360 01-Jan-2005 411107859 1 343,200.00 340,992.57 29-Jul-2005 6.500% NY - 88.00% Repur/Subs - 360 01-Jan-2005 411108542 1 499,999.00 497,940.70 29-Jul-2005 8.750% CA - 59.88% Repur/Subs - 360 01-Jan-2005 411165386 1 75,000.00 74,742.98 29-Jul-2005 8.875% TX - 100.00% Repur/Subs - 360 01-Feb-2005 411188451 1 214,500.00 213,392.31 29-Jul-2005 7.625% FL - 88.82% Repur/Subs - 360 01-Jan-2005 411188797 1 280,000.00 278,589.52 29-Jul-2005 7.750% MN - 69.12% Repur/Subs - 360 01-Jan-2005 411190985 1 133,200.00 132,412.04 29-Jul-2005 6.990% ID - 90.00% Repur/Subs - 360 01-Jan-2005 412033938 1 157,500.00 156,648.92 29-Jul-2005 6.590% CA - 70.00% Repur/Subs - 360 01-Feb-2005 412066518 1 72,900.00 72,691.71 29-Jul-2005 9.750% MO - 90.00% Repur/Subs - 360 01-Feb-2005 412103109 1 104,550.00 104,099.48 29-Jul-2005 7.750% GA - 85.00% Repur/Subs - 360 01-Feb-2005 412134177 1 465,000.00 462,948.28 29-Jul-2005 7.625% NJ - 66.43% Repur/Subs - 360 01-Feb-2005 412168797 1 127,415.00 126,943.54 29-Jul-2005 8.500% FL - 85.00% Repur/Subs - 360 01-Feb-2005 412171447 1 184,800.00 183,963.94 29-Jul-2005 7.499% IL - 80.00% Repur/Subs - 360 01-Feb-2005 TOTAL Page 18 of 24 22,628,762.00 22,532,167.78 Realized Loss Report COLLATERAL REALIZED LOSSES Current Number of Loans Liquidated 0 Collateral Principal Realized Loss/(Gain) Amount 0.00 Collateral Interest Realized Loss/(Gain) Amount 0.00 Net Liquidation Proceeds 0.00 Cumulative Number of Loans Liquidated 0 Collateral Realized Loss/(Gain) Amount 0.00 Net Liquidation Proceeds 0.00 Page 19 of 24 DEFAULT SPEEDS MDR 0.00% 3 Months Avg MDR 0.00% 12 Months Avg MDR 0.00% Avg MDR Since Cut-off 0.00% CDR 0.00% 3 Months Avg CDR 0.00% 12 Months Avg CDR 0.00% Avg CDR Since Cut-off 0.00% SDA 0.00% 3 Months Avg SDA Approximation 0.00% 12 Months Avg SDA Approximation 0.00% Avg SDA Since Cut-off Approximation 0.00% Loss Severity Approximation for Current Period 0.00% 3 Months Avg Loss Severity Approximation 0.00% 12 Months Avg Loss Severity Approximation 0.00% Avg Loss Severity Approximation Since Cut-off 0.00% Page 20 of 24 COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/( Beg Principal Balance)

Conditional Default Rate (CDR): 1-((1-MDR)^12) SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60))) Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)*(1-MDRn+1)*...*(1-MDRm)]^(1/months in period n,m) Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12) Average SDA Approximation over period between the nth month and mth month: AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60))) Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m) Loss Severity Approximation for current period: sum(realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans) Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m) Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods. Dates correspond to distribution dates. Page 21 of 24 Realized Loss Detail Report Loan Number Current State & Prior Realized Cumulative & Loan Note LTV at Original Principal Loss/(Gain) Realized Realized Loan Group Status Rate Origination Term Balance Revision Loss/(Gain) Loss/(Gain) TOTAL Page 22 of 24 Triggers and Adj. Cert. Report TRIGGER EVENTS Trigger Event in effect (0=No, 0 1=Yes) Stepdown Date has occurred (0 = 0 No, 1=Yes) Rolling 3M Avg (Inc BK, FC and 8,837,858.72 REO) 60+ Day Delinquency 10,481,806.02 Balance (Inc BK, FC and REO) Ending Balance 572,536,757.14 Senior Enhancement 21.5005% Percentage Delinquency 1.5436% Percentage Cumulative Loss 0.0000% Percentage ADJUSTABLE RATE CERTIFICATE INFORMATION SPACE INTENTIONALLY LEFT BLANK ADDITIONAL INFORMATION Net Monthly Excess Cash Flow 1,239,911.54 Basis Risk CarryForward Amount Paid to A-2 0.00 Basis Risk CarryForward Amount Paid to A-3 0.00 Basis Risk CarryForward Amount Paid to M-1 0.00 Basis Risk CarryForward Amount Paid to M-2 0.00 Basis Risk CarryForward Amount Paid to M-3 0.00 Basis Risk CarryForward Amount Paid to M-4 0.00 Basis Risk CarryForward Amount Paid to M-5 0.00 Basis Risk CarryForward Amount Paid to M-6 0.00 Basis Risk CarryForward Amount Paid to B-1 1,309.88 Basis Risk CarryForward Amount Paid to B-2 1,871.26 Page 23 of 24 Other Related Information ADDITIONAL INFORMATION Page 24 of 24