|PHHMC Mortgage
      Pass-Through Certificates,                                                          |  |              |  |              |  |         
|-------------------------------------------------------------------------------------------------------- |  | ------------ |  | ------------ |  | --------
|Series
      2005-4                                                                                      |  |              |  |              |  |         
|Schedule of Year-To-Date
      Principal and Interest Distributions to Certificateholders for
      2005 |  |             
|Class                                                                                                    |  | Interest     |  | Principal    |  | Realized
|                                                                                                         |  | Distribution |  | Paid         |  | Losses  
|A1                                                                                                       |  | 493,056.42   |  | 0.00         |  | 0.00    
|A2                                                                                                       |  | 789,761.50   |  | 3,117,401.26 |  | 0.00    
|A3                                                                                                       |  | 0.00         |  | 0.00         |  | 0.00    
|A4                                                                                                       |  | 0.00         |  | 0.00         |  | 0.00    
|A5                                                                                                       |  | 395,926.65   |  | 0.00         |  | 0.00    
|A6                                                                                                       |  | 455,847.27   |  | 1,551,362.79 |  | 0.00    
|A7                                                                                                       |  | 0.00         |  | 0.00         |  | 0.00    
|A8                                                                                                       |  | 0.00         |  | 0.00         |  | 0.00    
|B1                                                                                                       |  | 134,822.35   |  | 42,318.05    |  | 0.00    
|B2                                                                                                       |  | 21,695.54    |  | 6,809.80     |  | 0.00    
|B3                                                                                                       |  | 10,847.78    |  | 3,404.90     |  | 0.00    
|B4                                                                                                       |  | 7,748.40     |  | 2,432.07     |  | 0.00    
|B5                                                                                                       |  | 4,649.05     |  | 1,459.24     |  | 0.00    
|B6                                                                                                       |  | 6,198.68     |  | 1,945.64     |  | 0.00    
|RI                                                                                                       |  | 0.47         |  | 100.00       |  | 0.00    
|RII                                                                                                      |  | 0.47         |  | 100.00       |  | 0.00    

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