<PAGE>

                                  EXHIBIT 10.1

CONTACT: CUSTOMER SERVICES -- CTSLINK
         WELLS FARGO BANK MINNESOTA, N.A.
         SECURITIES ADMINISTRATION SERVICES
         7485 NEW HORIZON WAY
         FREDERICK, MD  21703
         www.ctslink.com
         TELEPHONE: (301) 815-6600
         FAX: (301) 315-6660

                               SMT SERIES 2004-12
                          RECORD DATE: OCTOBER 31, 2005
                      DISTRIBUTION DATE: NOVEMBER 21, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                  Certificate Certificate    Beginning                                                 Ending
                    Class     Pass-Through  Certificate     Interest      Principal      Current     Certificate       Total
Class    CUSIP   Description       Rate        Balance     Distribution  Distribution Realized Loss    Balance     Distribution
------ --------- ------------ ------------  -------------- ------------ ------------- ------------- -------------- -------------
<S>    <C>       <C>          <C>           <C>            <C>          <C>           <C>           <C>            <C>
 A-1   81744FFY8    SEN            4.27000% 270,540,673.88   962,673.90 14,842,796.87          0.00 255,697,877.01 15,805,470.77
 A-2   81744FFZ5    SEN            3.93000% 142,576,080.24   466,936.66  9,987,421.98          0.00 132,588,658.26 10,454,358.64
 A-3   81744FGZ9    SEN            3.96000% 129,074,378.08   425,945.45  8,665,163.97          0.00 120,409,214.10  9,091,109.42
X-A1   81744FGC5     IO            0.69585%           0.00   239,555.38          0.00          0.00           0.00    239,555.38
X-A2   81744FGD3     IO            0.89372%           0.00    96,130.28          0.00          0.00           0.00     96,130.28
 X-B   81744FGF8     IO            0.16228%           0.00     1,243.45          0.00          0.00           0.00      1,243.45
 B-1   81744FGG6    SUB            4.50000%   8,588,000.00    32,205.00          0.00          0.00   8,588,000.00     32,205.00
 B-2   81744FGH4    SUB            4.85000%   6,134,000.00    24,791.58          0.00          0.00   6,134,000.00     24,791.58
 B-3   81744FGJ0    SUB            5.25000%   3,680,000.00    16,100.00          0.00          0.00   3,680,000.00     16,100.00
 B-4   81744FGK7    SUB            4.84774%   2,453,000.00     9,909.58          0.00          0.00   2,453,000.00      9,909.58
 B-5   81744FGK7    SUB            4.84774%     920,000.00     3,716.60          0.00          0.00     920,000.00      3,716.60
 B-6   81744FGL5    SUB            4.84774%   2,762,778.00    11,161.02          0.00          0.00   2,762,778.00     11,161.02
 A-R   81744FGE1    RES            4.79937%           0.00         0.18          0.00          0.00           0.00          0.18
                                            -------------- ------------ ------------- ------------- -------------- -------------
Totals                                      566,728,910.20 2,990,369.08 33,495,382.82          0.00 533,233,527.37 35,785,751.90
                                            -------------- ------------ ------------- ------------- -------------- -------------

<CAPTION>
        Cumulative
Class  Realized Loss
------ -------------
<S>    <C>
 A-1        0.00
 A-2        0.00
 A-3        0.00
X-A1        0.00
X-A2        0.00
 X-B        0.00
 B-1        0.00
 B-2        0.00
 B-3        0.00
 B-4        0.00
 B-5        0.00
 B-6        0.00
 A-R        0.00
       ---------
Totals      0.00
       ---------
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                           Beginning       Scheduled     Unscheduled
        Original Face     Certificate       Principal     Principal                 Realized
Class       Amount         Balance       Distribution   Distribution    Accretion   Loss (1)
------- ---------------- --------------- -------------- --------------- ----------- -----------
<S>     <C>              <C>             <C>            <C>             <C>         <C>
 A-1      380,510,000.00  270,540,673.88       1,467.52   14,841,329.35        0.00        0.00
 A-2      208,392,000.00  142,576,080.24       1,434.86    9,985,987.12        0.00        0.00
 A-3      218,330,615.00  129,074,378.08           0.00    8,665,163.97        0.00        0.00
X-A1                0.00            0.00           0.00            0.00        0.00        0.00
X-A2                0.00            0.00           0.00            0.00        0.00        0.00
 X-B                0.00            0.00           0.00            0.00        0.00        0.00
 B-1        8,588,000.00    8,588,000.00           0.00            0.00        0.00        0.00
 B-2        6,134,000.00    6,134,000.00           0.00            0.00        0.00        0.00
 B-3        3,680,000.00    3,680,000.00           0.00            0.00        0.00        0.00
 B-4        2,453,000.00    2,453,000.00           0.00            0.00        0.00        0.00
 B-5          920,000.00      920,000.00           0.00            0.00        0.00        0.00
 B-6        2,762,778.00    2,762,778.00           0.00            0.00        0.00        0.00
 A-R              100.00            0.00           0.00            0.00        0.00        0.00
        ---------------- --------------- -------------- --------------- ----------- -----------
Totals    831,770,493.00  566,728,910.20       2,902.38   33,492,480.44        0.00        0.00
        ---------------- --------------- -------------- --------------- ----------- -----------

<CAPTION>
           Total                                Ending
         Principal     Ending Certificate     Certificate   Total Principal
Class    Reduction        Balance             Percentage     Distribution
------- -------------- ------------------- ---------------- ---------------
<S>     <C>            <C>                 <C>              <C>
 A-1     14,842,796.87      255,697,877.01       0.67198727   14,842,796.87
 A-2      9,987,421.98      132,588,658.26       0.63624639    9,987,421.98
 A-3      8,665,163.97      120,409,214.10       0.55149945    8,665,163.97
X-A1              0.00                0.00       0.00000000            0.00
X-A2              0.00                0.00       0.00000000            0.00
 X-B              0.00                0.00       0.00000000            0.00
 B-1              0.00        8,588,000.00       1.00000000            0.00
 B-2              0.00        6,134,000.00       1.00000000            0.00
 B-3              0.00        3,680,000.00       1.00000000            0.00
 B-4              0.00        2,453,000.00       1.00000000            0.00
 B-5              0.00          920,000.00       1.00000000            0.00
 B-6              0.00        2,762,778.00       1.00000000            0.00
 A-R              0.00                0.00       0.00000000            0.00
        -------------- ------------------- ---------------- ---------------
Totals   33,495,382.82      533,233,527.37       0.64108252   33,495,382.82
        -------------- ------------------- ---------------- ---------------
</TABLE>

(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 FACTORS STATEMENT

<TABLE>
<CAPTION>
                         Beginning     Scheduled  Unscheduled
      Original Face     Certificate    Principal   Principal                 Realized
Class    Amount           Balance    Distribution Distribution  Accretion    Loss (3)
----- --------------- -------------- ------------ ------------ ----------- -----------
<S>   <C>             <C>            <C>          <C>          <C>         <C>
 A-1   380,510,000.00   710.99491178   0.00385672  39.00378269  0.00000000  0.00000000
 A-2   208,392,000.00   684.17252217   0.00688539  47.91924412  0.00000000  0.00000000
 A-3   218,330,615.00   591.18771813   0.00000000  39.68826804  0.00000000  0.00000000
X-A1             0.00     0.00000000   0.00000000   0.00000000  0.00000000  0.00000000
X-A2             0.00     0.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 X-B             0.00     0.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-1     8,588,000.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-2     6,134,000.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-3     3,680,000.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-4     2,453,000.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-5       920,000.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-6     2,762,778.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 A-R           100.00     0.00000000   0.00000000   0.00000000  0.00000000  0.00000000

<CAPTION>
                         Ending        Ending
      Total Principal  Certificate   Certificate   Total Principal
Class   Reduction        Balance      Percentage    Distribution
----- --------------- -------------- ------------  ---------------
<S>   <C>             <C>            <C>           <C>
 A-1      39.00763941   671.98727237   0.67198727     39.00763941
 A-2      47.92612951   636.24639266   0.63624639     47.92612951
 A-3      39.68826804   551.49945004   0.55149945     39.68826804
X-A1       0.00000000     0.00000000   0.00000000      0.00000000
X-A2       0.00000000     0.00000000   0.00000000      0.00000000
 X-B       0.00000000     0.00000000   0.00000000      0.00000000
 B-1       0.00000000  1000.00000000   1.00000000      0.00000000
 B-2       0.00000000  1000.00000000   1.00000000      0.00000000
 B-3       0.00000000  1000.00000000   1.00000000      0.00000000
 B-4       0.00000000  1000.00000000   1.00000000      0.00000000
 B-5       0.00000000  1000.00000000   1.00000000      0.00000000
 B-6       0.00000000  1000.00000000   1.00000000      0.00000000
 A-R       0.00000000     0.00000000   0.00000000      0.00000000
</TABLE>

(3) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                        INTEREST DISTRIBUTION- STATEMENT

<TABLE>
<CAPTION>
                                         Beginning                  Payment of              Non-
                           Current      Certificate/    Current       Unpaid   Current  Supported
        Original Face    Certificate     Notional       Accrued      Interest  Interest  Interest Realized
Class       Amount          Rate          Balance       Interest     Shortfall Shortfall Shortfall Loss (4)
------- ---------------- -----------  --------------- ------------- ---------- --------- --------- --------
<S>     <C>              <C>          <C>             <C>           <C>        <C>       <C>       <C>
   A-1    380,510,000.00     4.27000%  270,540,673.88    962,673.90       0.00      0.00      0.00     0.00
   A-2    208,392,000.00     3.93000%  142,576,080.24    466,936.66       0.00      0.00      0.00     0.00
   A-3    218,330,615.00     3.96000%  129,074,378.08    425,945.45       0.00      0.00      0.00     0.00
  X-A1              0.00     0.69585%  413,116,754.12    239,555.38       0.00      0.00      0.00     0.00
  X-A2              0.00     0.89372%  129,074,378.08     96,130.28       0.00      0.00      0.00     0.00
   X-B              0.00     0.16228%   18,402,000.00      2,488.63       0.00      0.00      0.00     0.00
   B-1      8,588,000.00     4.50000%    8,588,000.00     32,205.00       0.00      0.00      0.00     0.00
   B-2      6,134,000.00     4.85000%    6,134,000.00     24,791.58       0.00      0.00      0.00     0.00
   B-3      3,680,000.00     5.25000%    3,680,000.00     16,100.00       0.00      0.00      0.00     0.00
   B-4      2,453,000.00     4.84774%    2,453,000.00      9,909.58       0.00      0.00      0.00     0.00
   B-5        920,000.00     4.84774%      920,000.00      3,716.60       0.00      0.00      0.00     0.00
   B-6      2,762,778.00     4.84774%    2,762,778.00     11,161.02       0.00      0.00      0.00     0.00
   A-R            100.00     4.79937%            0.00          0.00       0.00      0.00      0.00     0.00
        ----------------                              ------------- ---------- --------- --------- --------
 Totals   831,770,493.00                               2,291,614.08       0.00      0.00      0.00     0.00
        ----------------                              ------------- ---------- --------- --------- --------

<CAPTION>
                       Remaining      Ending
                         Unpaid    Certificate/
        Total Interest  Interest    Notational
Class    Distribution   Shortfall     Balance
------- -------------- ---------- ---------------
<S>     <C>            <C>        <C>
   A-1      962,673.90       0.00  255,697,877.01
   A-2      466,936.66       0.00  132,588,658.26
   A-3      425,945.45       0.00  120,409,214.10
  X-A1      239,555.38       0.00  388,286,535.27
  X-A2       96,130.28       0.00  120,409,214.10
   X-B        1,243.45       0.00   18,402,000.00
   B-1       32,205.00       0.00    8,588,000.00
   B-2       24,791.58       0.00    6,134,000.00
   B-3       16,100.00       0.00    3,680,000.00
   B-4        9,909.58       0.00    2,453,000.00
   B-5        3,716.60       0.00      920,000.00
   B-6       11,161.02       0.00    2,762,778.00
   A-R            0.18       0.00            0.00
        -------------- ----------
 Totals   2,290,369.08       0.00
        -------------- ----------
</TABLE>

(4) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                        Payment of                 Non-
                            Current      Beginning                        Unpaid      Current   Supported
            Original Face Certificate   Certificate/    Current Accrued  Interest    Interest    Interest    Realized
Class (5)       Amount       Rate      Notional Balance    Interest     Shortfall    Shortfall  Shortfall    Loss (6)
--------- --------------- -----------  ---------------- --------------- ----------- ----------- ----------- -----------
<S>       <C>             <C>          <C>              <C>             <C>         <C>         <C>         <C>
 A-1       380,510,000.00     4.27000%     710.99491178      2.52995690  0.00000000  0.00000000  0.00000000  0.00000000
 A-2       208,392,000.00     3.93000%     684.17252217      2.24066500  0.00000000  0.00000000  0.00000000  0.00000000
 A-3       218,330,615.00     3.96000%     591.18771813      1.95091948  0.00000000  0.00000000  0.00000000  0.00000000
X-A1                 0.00     0.69585%     701.50339805      0.40678310  0.00000000  0.00000000  0.00000000  0.00000000
X-A2                 0.00     0.89372%     591.18771813      0.44029684  0.00000000  0.00000000  0.00000000  0.00000000
 X-B                 0.00     0.16228%    1000.00000000      0.13523693  0.00000000  0.00000000  0.00000000  0.00000000
 B-1         8,588,000.00     4.50000%    1000.00000000      3.75000000  0.00000000  0.00000000  0.00000000  0.00000000
 B-2         6,134,000.00     4.85000%    1000.00000000      4.04166612  0.00000000  0.00000000  0.00000000  0.00000000
 B-3         3,680,000.00     5.25000%    1000.00000000      4.37500000  0.00000000  0.00000000  0.00000000  0.00000000
 B-4         2,453,000.00     4.84774%    1000.00000000      4.03977986  0.00000000  0.00000000  0.00000000  0.00000000
 B-5           920,000.00     4.84774%    1000.00000000      4.03978261  0.00000000  0.00000000  0.00000000  0.00000000
 B-6         2,762,778.00     4.84774%    1000.00000000      4.03978170  0.00000000  0.00000000  0.00000000  0.00000000
 A-R               100.00     4.79937%       0.00000000      0.00000000  0.00000000  0.00000000  0.00000000  0.00000000

<CAPTION>
                          Remaining
                            Unpaid
          Total Interest   Interest  Ending Certificate/
Class (5)  Distribution    Shortfall Notational Balance
--------- -------------- ----------- -------------------
<S>       <C>             <C>        <C>
 A-1          2.52995690  0.00000000       671.98727237
 A-2          2.24066500  0.00000000       636.24639266
 A-3          1.95091948  0.00000000       551.49945004
X-A1          0.40678310  0.00000000       659.33981421
X-A2          0.44029684  0.00000000       551.49945004
 X-B          0.06757146  0.00000000      1000.00000000
 B-1          3.75000000  0.00000000      1000.00000000
 B-2          4.04166612  0.00000000      1000.00000000
 B-3          4.37500000  0.00000000      1000.00000000
 B-4          4.03977986  0.00000000      1000.00000000
 B-5          4.03978261  0.00000000      1000.00000000
 B-6          4.03978170  0.00000000      1000.00000000
 A-R          1.80000000  0.00000000         0.00000000
</TABLE>

(5) Per $1 denomination

(6) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                                 <C>
Beginning Balance                                                             0.00

Deposits
         Payments of Interest and Principal                         35,926,200.500
         Liquidations, Insurance Proceeds, Reserve Funds                      0.00
         Proceeds from Repurchased Loans                                      0.00
         Other Amounts (Servicer Advances)                                    0.00
         Realized Losses (Gains, Subsequent Expenses & Recoveries)            0.00
         Prepayment Penalties                                                 0.00
                                                                    --------------
Total Deposits                                                       35,926,200.50

Withdrawals
         Reimbursement for Servicer Advances                                  0.00
         Payment of Service Fee                                         140,448.60
         Payment of Interest and Principal                           35,785,751.90
                                                                    --------------
Total Withdrawals (Pool Distribution Amount)                         34,926,200.50

Ending Balance                                                                0.00
                                                                    ==============
</TABLE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                                           <C>
Total Prepayment/Curtailment Interest Shortfall                               0.00
Servicing Fee Support                                                         0.00
                                                                              ----

Non-Supported Prepayment Curtailment Interest Shortfall                       0.00
                                                                              ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                                     <C>
Gross Servicing Fee                                                     136,801.48
Master Servicing Fee                                                      3,647.12
Supported Prepayment/Curtailment Interest Shortfall                           0.00
                                                                        ----------

Net Servicing Fee                                                       140,448.60
                                                                        ==========
</TABLE>

<PAGE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                    Beginning    Current    Current     Ending
         Account Type                Balance   Withdrawals  Deposits    Balance
----------------------------------  ---------  -----------  ---------  ---------
<S>                                 <C>        <C>          <C>        <C>
Class X-A1 Pool 1 Comp. Sub Amount   3,000.00         0.00       0.00   3,000.00
Class X-A1 Pool 2 Comp. Sub Amount   3,000.00         0.00       0.00   3,000.00
Class X-A2 Sub Amount                3,000.00         0.00       0.00   3,000.00
Class X-B Sub Amount                 1,000.00     1,245.18   1,245.18   1,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

                                   DELINQUENT

<TABLE>
<CAPTION>
           No. of    Principal
            Loans     Balance
<S>        <C>       <C>
0-29 Days     0              0.00
30 Days      21      7,827,073.97
60 Days       3        444,966.73
90 Days       1        168,000.00
120 Days      0              0.00
150 Days      0              0.00
180+ Days     0              0.00
             --      ------------
             25      8,440,040.70
</TABLE>

<TABLE>
<CAPTION>
            No. of     Principal
             Loans      Balance
<S>        <C>         <C>
0-29 Days  0.000000%    0.000000%
30 Days    1.658768%    1.895980%
60 Days    0.236967%    0.107786%
90 Days    0.078989%    0.040695%
120 Days   0.000000%    0.000000%
150 Days   0.000000%    0.000000%
180+ Days  0.000000%    0.000000%
           --------    ---------
           1.974724%    2.044462%
</TABLE>

                                   BANKRUPTCY

<TABLE>
<CAPTION>
             No. of   Principal
             Loans     Balance
<S>          <C>      <C>
0-29 Days      0        0.00
30 Days        0        0.00
60 Days        0        0.00
90 Days        0        0.00
120 Days       0        0.00
150 Days       0        0.00
180+ Days      0        0.00
              --        ----
               0        0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of   Principal
             Loans     Balance
<S>        <C>        <C>
0-29 Days  0.000000%   0.000000%
30 Days    0.000000%   0.000000%
60 Days    0.000000%   0.000000%
90 Days    0.000000%   0.000000%
120 Days   0.000000%   0.000000%
150 Days   0.000000%   0.000000%
180+ Days  0.000000%   0.000000%
           --------   ---------
           0.000000%   0.000000%
</TABLE>

                                   FORECLOSURE

<TABLE>
<CAPTION>
             No. of   Principal
             Loans     Balance
<S>          <C>      <C>
0-29 Days      0         0.00
30 Days        0         0.00
60 Days        0         0.00
90 Days        0         0.00
120 Days       0         0.00
150 Days       0         0.00
180+ Days      0         0.00
              --         ----
               0         0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of    Principal
             Loans      Balance
<S>        <C>         <C>
0-29 Days  0.000000%   0.000000%
30 Days    0.000000%   0.000000%
60 Days    0.000000%   0.000000%
90 Days    0.000000%   0.000000%
120 Days   0.000000%   0.000000%
150 Days   0.000000%   0.000000%
180+ Days  0.000000%   0.000000%
           --------    --------
           0.000000%   0.000000%
</TABLE>

                                       REO

<TABLE>
<CAPTION>
           No. of     Principal
            Loans      Balance
<S>        <C>        <C>
0-29 Days     0          0.00
30 Days       0          0.00
60 Days       0          0.00
90 Days       0          0.00
120 Days      0          0.00
150 Days      0          0.00
180+ Days     0          0.00
             --          ----
              0          0.00
</TABLE>

<TABLE>
<CAPTION>
            No. of    Principal
             Loans     Balance
<S>        <C>        <C>
0-29 Days  0.000000%   0.000000%
30 Days    0.000000%   0.000000%
60 Days    0.000000%   0.000000%
90 Days    0.000000%   0.000000%
120 Days   0.000000%   0.000000%
150 Days   0.000000%   0.000000%
180+ Days  0.000000%   0.000000%
           --------    --------
           0.000000%   0.000000%
</TABLE>

                                      TOTAL

<TABLE>
<CAPTION>
             No. of      Principal
             Loans        Balance
<S>          <C>        <C>
0-29 Days      0                0.00
30 Days       21        7,827,073.97
60 Days        3          444,966.73
90 Days        1          168,000.00
120 Days       0                0.00
150 Days       0                0.00
180+ Days      0                0.00
              --       -------------
              25        8,440,040.70
</TABLE>

<TABLE>
<CAPTION>
             No. of      Principal
             Loans        Balance
<S>        <C>           <C>
0-29 Days  0.000000%     0.000000%
30 Days    1.658768%     1.895980%
60 Days    0.236967%     0.107786%
90 Days    0.078989%     0.040695%
120 Days   0.000000%     0.000000%
150 Days   0.000000%     0.000000%
180+ Days  0.000000%     0.000000%
           --------      --------
           1.974724%     2.044462%
</TABLE>

<TABLE>
<S>                                                                <C>
Current Period Class A Insufficient Funds:                         0.00
Principal Balance of  Contaminated Properties                      0.00
Advance Periodic                                                   0.00
</TABLE>
<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                   DELINQUENT

GROUP  ONE

<TABLE>
<CAPTION>
           No. of   Principal
           Loans     Balance
<S>        <C>     <C>
0-29 Days     0            0.00
30 Days      11    3,285,701.13
60 Days       2      324,966.73
90 Days       1      168,000.00
120 Days      0            0.00
150 Days      0            0.00
180+ Days     0            0.00
             --    ------------
             14    3,778,667.86
</TABLE>

<TABLE>
<CAPTION>
             No. of     Principal
             Loans       Balance
<S>        <C>          <C>
0-29 Days  0.000000%    0.000000%
30 Days    1.373283%    1.209967%
60 Days    0.249688%    0.119670%
90 Days    0.124844%    0.061866%
120 Days   0.000000%    0.000000%
150 Days   0.000000%    0.000000%
180+ Days  0.000000%    0.000000%
           --------     --------
           1.747815%    1.391503%
</TABLE>

                                   BANKRUPTCY

<TABLE>
<CAPTION>
             No. of    Principal
             Loans      Balance
<S>          <C>       <C>
0-29 Days      0         0.00
30 Days        0         0.00
60 Days        0         0.00
90 Days        0         0.00
120 Days       0         0.00
150 Days       0         0.00
180+ Days      0         0.00
              --         ----
               0         0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of    Principal
             Loans      Balance
<S>        <C>         <C>
0-29 Days  0.000000%   0.000000%
30 Days    0.000000%   0.000000%
60 Days    0.000000%   0.000000%
90 Days    0.000000%   0.000000%
120 Days   0.000000%   0.000000%
150 Days   0.000000%   0.000000%
180+ Days  0.000000%   0.000000%
           --------    --------
           0.000000%   0.000000%
</TABLE>

                                   FORECLOSURE

<TABLE>
<CAPTION>
            No. of  Principal
            Loans    Balance
<S>         <C>     <C>
0-29 Days     0      0.00
30 Days       0      0.00
60 Days       0      0.00
90 Days       0      0.00
120 Days      0      0.00
150 Days      0      0.00
180+ Days     0      0.00
             --      ----
              0      0.00
</TABLE>

<TABLE>
<CAPTION>
              No. of    Principal
              Loans      Balance
<S>         <C>         <C>
0-29 Days   0.000000%    0.000000%
30 Days     0.000000%    0.000000%
60 Days     0.000000%    0.000000%
90 Days     0.000000%    0.000000%
120 Days    0.000000%    0.000000%
150 Days    0.000000%    0.000000%
180+ Days   0.000000%    0.000000%
            --------     --------
            0.000000%    0.000000%
</TABLE>

                                       REO

<TABLE>
<CAPTION>
              No. of     Principal
               Loans      Balance
<S>           <C>        <C>
0-29 Days        0          0.00
30 Days          0          0.00
60 Days          0          0.00
90 Days          0          0.00
120 Days         0          0.00
150 Days         0          0.00
180+ Days        0          0.00
                --          ----
                 0          0.00
</TABLE>

<TABLE>
<CAPTION>
              No. of     Principal
               Loans      Balance
<S>          <C>         <C>
0-29 Days    0.000000%    0.000000%
30 Days      0.000000%    0.000000%
60 Days      0.000000%    0.000000%
90 Days      0.000000%    0.000000%
120 Days     0.000000%    0.000000%
150 Days     0.000000%    0.000000%
180+ Days    0.000000%    0.000000%
             --------     --------
             0.000000%    0.000000%
</TABLE>

                                      TOTAL

<TABLE>
<CAPTION>
              No. of      Principal
              Loans        Balance
<S>           <C>       <C>
0-29 Days       0               0.00
30 Days        11       3,285,701.13
60 Days         2         324,966.73
90 Days         1         168,000.00
120 Days        0               0.00
150 Days        0               0.00
180+ Days       0               0.00
               --       ------------
               14       3,778,667.86
</TABLE>

<TABLE>
<CAPTION>
              No. of      Principal
              Loans        Balance
<S>         <C>           <C>
0-29 Days   0.000000%      0.000000%
30 Days     1.373283%      1.209967%
60 Days     0.249688%      0.119670%
90 Days     0.124844%      0.061866%
120 Days    0.000000%      0.000000%
150 Days    0.000000%      0.000000%
180+ Days   0.000000%      0.000000%
            --------       --------
            1.747815%      1.391503%
</TABLE>

                                   DELINQUENT
GROUP TWO

<TABLE>
<CAPTION>
                No. of      Principal
                 Loans       Balance
<S>             <C>        <C>
0-29 Days          0               0.00
30 Days           10       4,541,372.84
60 Days            1         120,000.00
90 Days            0               0.00
120 Days           0               0.00
150 Days           0               0.00
180+ Days          0               0.00
                  --       ------------
                  11       4,661,372.84
</TABLE>

<TABLE>
<CAPTION>
                No. of      Principal
                 Loans       Balance
<S>            <C>          <C>
0-29 Days      0.000000%     0.000000%
30 Days        2.150538%     3.214637%
60 Days        0.215054%     0.084943%
90 Days        0.000000%     0.000000%
120 Days       0.000000%     0.000000%
150 Days       0.000000%     0.000000%
180+ Days      0.000000%     0.000000%
               --------      --------
               2.365591%     3.299580%
</TABLE>

                                   BANKRUPTCY
                                    1.183654%

<TABLE>
<CAPTION>
              No. of    Principal
              Loans      Balance
<S>           <C>       <C>
0-29 Days       0          0.00
30 Days         0          0.00
60 Days         0          0.00
90 Days         0          0.00
120 Days        0          0.00
150 Days        0          0.00
180+ Days       0          0.00
               --          ----
                0          0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of    Principal
             Loans      Balance
<S>        <C>         <C>
0-29 Days  0.000000%    0.000000%
30 Days    0.000000%    0.000000%
60 Days    0.000000%    0.000000%
90 Days    0.000000%    0.000000%
120 Days   0.000000%    0.000000%
150 Days   0.000000%    0.000000%
180+ Days  0.000000%    0.000000%
           --------     --------
           0.000000%    0.000000%
</TABLE>

                                   FORECLOSURE

<TABLE>
<CAPTION>
              No. of    Principal
              Loans      Balance
<S>           <C>       <C>
0-29 Days       0         0.00
30 Days         0         0.00
60 Days         0         0.00
90 Days         0         0.00
120 Days        0         0.00
150 Days        0         0.00
180+ Days       0         0.00
               --         ----
                0         0.00
</TABLE>

<TABLE>
<CAPTION>
              No. of    Principal
              Loans      Balance
<S>         <C>         <C>
0-29 Days   0.000000%    0.000000%
30 Days     0.000000%    0.000000%
60 Days     0.000000%    0.000000%
90 Days     0.000000%    0.000000%
120 Days    0.000000%    0.000000%
150 Days    0.000000%    0.000000%
180+ Days   0.000000%    0.000000%
            --------     --------
            0.000000%    0.000000%
</TABLE>

                                       REO

<TABLE>
<CAPTION>
              No. of     Principal
               Loans      Balance
<S>           <C>        <C>
0-29 Days        0           0.00
30 Days          0           0.00
60 Days          0           0.00
90 Days          0           0.00
120 Days         0           0.00
150 Days         0           0.00
180+ Days        0           0.00
                --           ----
                 0           0.00
</TABLE>

<TABLE>
<CAPTION>
              No. of     Principal
               Loans      Balance
<S>          <C>         <C>
0-29 Days    0.000000%    0.000000%
30 Days      0.000000%    0.000000%
60 Days      0.000000%    0.000000%
90 Days      0.000000%    0.000000%
120 Days     0.000000%    0.000000%
150 Days     0.000000%    0.000000%
180+ Days    0.000000%    0.000000%
             --------     --------
             0.000000%    0.000000%
</TABLE>

                                      TOTAL

<TABLE>
<CAPTION>
              No. of     Principal
              Loans       Balance
<S>           <C>       <C>
0-29 Days        0              0.00
30 Days         10      4,541,372.84
60 Days          1        120,000.00
90 Days          0              0.00
120 Days         0              0.00
150 Days         0              0.00
180+ Days        0              0.00
                --      ------------
                11      4,661,372.84
</TABLE>

<TABLE>
<CAPTION>
              No. of     Principal
              Loans       Balance
<S>         <C>          <C>
0-29 Days   0.000000%     0.000000%
30 Days     2.150538%     3.214637%
60 Days     0.215054%     0.084943%
90 Days     0.000000%     0.000000%
120 Days    0.000000%     0.000000%
150 Days    0.000000%     0.000000%
180+ Days   0.000000%     0.000000%
            --------      --------
            2.365591%     3.299580%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                             Fixed & Mixed Arm
<S>                                                <C>
Weighted Average Gross Coupon                               5.227200%
Weighted Average Net Coupon                                 4.852105%
Weighted Average Pass-Through Rate                          4.132947%
Weighted Average Maturity (Stepdown Calculation)                 328

Beginning Scheduled Collateral Loan Count                      1,337
Number of Loans Paid in Full                                      71
Ending Scheduled Collateral Loan Count                         1,266

Beginning Scheduled Collateral Balance                437,654,533.03
Ending Scheduled Collateral Balance                   412,824,314.18
Ending Actual Collateral Balance at 31-Oct-2005       412,824,618.57

Monthly P&I Constant                                    1,909,325.40
Special Servicing Fee                                           0.00
Prepayment Penalties                                            0.00
Realization Loss Amount                                         0.00
Cumulative Realized Loss                                        0.00

Scheduled Principal                                         2,902.38
Unscheduled Principal                                  24,827,316.47
</TABLE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                               <C>
Rapid Prepay Condition?                       NO
Underlying Certificate Balance    129,074,378.08
Underlying Certificate Interest       522,075.73
Underlying Certificate Principal    8,665,163.95
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
           GROUP                    GROUP ONE         GROUP TWO              TOTAL
<S>                               <C>              <C>                 <C>
Collateral Description                 Mixed ARM   6 Month LIBOR ARM        Mixed ARM
Weighted Average Coupon Rate            5.254217            5.176045         5.227200
Weighted Average Net Rate               4.879189            4.800824         4.852105

Weighted Average Maturity                    327                 331              328
Record Date                           10/31/2005          10/31/2005       10/31/2005
Principal and Interest Constant     1,255,453.78          653,871.62     1,909,325.40
Beginning Loan Count                         841                 496            1,337
Loans Paid in Full                            40                  31               71
Ending Loan Count                            801                 465            1,266
Beginning Scheduled Balance       286,395,392.73      151,259,140.30   437,654,533.03
Ending Scheduled Balance          271,552,595.86      141,271,718.32   412,824,314.18
Scheduled Principal                     1,467.52            1,434.86         2,902.38
Unscheduled Principal              14,841,329.35        9,985,987.12    24,827,316.47
Scheduled Interest                  1,253,986.26          652,436.76     1,906,423.02
Servicing Fee                          89,505.17           47,296.31       136,801.48
Master Servicing Fee                    2,386.63            1,260.49         3,647.12
Trustee Fee                                 0.00                0.00             0.00
FRY Amount                                  0.00                0.00             0.00
Special Hazard Fee                          0.00                0.00             0.00
Other Fee                                   0.00                0.00             0.00
Pool Insurance Fee                          0.00                0.00             0.00
Spread 1                                    0.00                0.00             0.00
Spread 2                                    0.00                0.00             0.00
Spread 3                                    0.00                0.00             0.00
Net Interest                        1,162,094.46          603,879.96     1,765,974.42
Realized Loss Amount                        0.00                0.00             0.00
Cumulative Realized Loss                    0.00                0.00             0.00
Percentage of Cumulative Losses             0.00                0.00             0.00
Prepayment Penalties                        0.00                0.00             0.00
Special Servicing Fee                       0.00                0.00             0.00
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                             <C>
Group One
One Month Libor Loan Balance    152,324,635.49
Six Month Libor Loan Balance    119,227,960.37
Principal Transfer Amount                 0.00
Interest Transfer Amount                  0.00
Pro Rata Senior Percent              94.464045%
Senior Percent                      100.000000%
Senior Prepayment Percent           100.000000%
Subordinate Percent                   0.000000%
Subordinate Prepayment Percent        0.000000%

Group Two
Principal Transfer Amount                 0.00
Interest Transfer Amount                  0.00
Pro Rata Senior Percent              94.259481%
Senior Percent                      100.000000%
Senior Prepayment Percent           100.000000%
Subordinate Percent                   0.000000%
Subordinate Prepayment Percent        0.000000%
</TABLE>