|PHHMC Mortgage
      Pass-Through Certificates,                                                          |  |              |  |              |  |         
|-------------------------------------------------------------------------------------------------------- |  | ------------ |  | ------------ |  | --------
|Series
      2005-3                                                                                      |  |              |  |              |  |         
|Schedule of Year-To-Date
      Principal and Interest Distributions to Certificateholders for
      2005 |  |             
|Class                                                                                                    |  | Interest     |  | Principal    |  | Realized
|                                                                                                         |  | Distribution |  | Paid         |  | Losses  
|A1                                                                                                       |  | 938,736.12   |  | 1,697,042.95 |  | 0.00    
|A2                                                                                                       |  | 600,046.44   |  | 0.00         |  | 0.00    
|A3                                                                                                       |  | 770,383.03   |  | 2,988,224.25 |  | 0.00    
|A4                                                                                                       |  | 0.00         |  | 0.00         |  | 0.00    
|A5                                                                                                       |  | 0.00         |  | 0.00         |  | 0.00    
|A6                                                                                                       |  | 0.00         |  | 0.00         |  | 0.00    
|A7                                                                                                       |  | 0.00         |  | 0.00         |  | 0.00    
|B1                                                                                                       |  | 241,963.22   |  | 71,376.00    |  | 0.00    
|B2                                                                                                       |  | 22,960.01    |  | 6,772.91     |  | 0.00    
|B3                                                                                                       |  | 12,363.08    |  | 3,646.96     |  | 0.00    
|B4                                                                                                       |  | 8,830.79     |  | 2,604.95     |  | 0.00    
|B5                                                                                                       |  | 7,064.60     |  | 2,083.96     |  | 0.00    
|B6                                                                                                       |  | 7,064.61     |  | 2,083.95     |  | 0.00    
|RI                                                                                                       |  | 0.46         |  | 100.00       |  | 0.00    
|RII                                                                                                      |  | 0.46         |  | 100.00       |  |         

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