item 14 principal accounting fees services applicable part iv item 15 item 7 managements discussion analysis financial condition results operation applicable item 7a item 7a quantitative qualitative disclosures market risk applicable item 8 item 8 financial statements supplementary data applicable item 9 item 15 exhibits financial statement schedules exhibits 311 rule 13a14a15d14a certification 991 annual report independent registered public accounting firm concerning servicing activities 992 report management compliance minimum servicing standards 993 annual statements compliance pooling servicing agreements 994 aggregate statement principal interest distributions certificate holders applicable b applicable c omitted filed herewith signatures pursuant requirements section 13 15d securities exchange act 1934 registrant duly caused report signed behalf undersigned thereunto duly authorized structured asset securities corporation registrant signed aurora loan services llc master servicer e todd whittemore executive vice president e todd whittemore executive vice president dated march 30 2006 exhibit index exhibit ex311 rule 13a14a15d14a certification e todd whittemore certify 1 reviewed annual report form 10k reports form 8k containing distribution servicing reports filed respect periods included year covered annual report structured adjustable rate mortgage loan trust mortgage passthrough certificates series 200523 2 based knowledge information reports taken whole contain untrue statement material fact omit state material fact necessary make statements made light circumstances statements made misleading last day period covered annual report 3 based knowledge distribution servicing information required provided trustee servicer pooling servicing similar agreement inclusion reports included reports 4 responsible reviewing activities performed master servicer pooling servicing similar agreement based upon knowledge annual compliance review required agreement except disclosed reports master servicer fulfilled obligations agreement 5 reports disclose significant deficiencies relating servicers compliance minimum servicing standards based upon report provided independent public accountant conducting review compliance uniform single attestation program mortgage bankers similar procedure set forth pooling servicing similar agreement included reports giving certifications reasonably relied information provided following unaffiliated parties countrywide home loans servicing lp servicer fifth third mortgage company servicer hsbc mortgage corporation usa servicer washington mutual bank servicer wells fargo bank na servicer trustee date march 30 2006 e todd whittemore signature executive vice president title ex991 logokpmg kpmg llp suite 2000 355 south grand avenue los angeles ca 900711568 telephone 213 972 4000 fax 213 622 1217 internet wwwuskpmgcom independent accountants report board directors countrywide financial corporation examined managements assertion included accompanying management assertion countrywide financial corporation subsidiaries including whollyowned subsidiary countrywide home loans inc chl countrywide home loans servicing lp whollyowned subsidiary chl collectively company complied minimum servicing standards set forth mortgage bankers association americas uniform single attestation program mortgage bankers usap year ended december 31 2005 management responsible companys compliance minimum servicing standards responsibility express opinion managements assertion companys compliance based examination conducted accordance attestation standards established american institute certified public accountants accordingly included examining test basis evidence companys compliance minimum servicing standards specified performing procedures considered necessary circumstances believe examination provides reasonable basis opinion examination provide legal determination companys compliance minimum servicing standards opinion managements assertion countrywide financial corporation subsidiaries including whollyowned subsidiary countrywide home loans inc chl countrywide home loans servicing lp whollyowned subsidiary chl complied aforementioned minimum servicing standards year ended december 31 2005 fairly stated material respects kpmg llp march 3 2006 kpmg llp us limited liability partnership us member firm kpmg international swiss cooperative ex991 b report independent registered public accounting firm board directors fifth third mortgage company examined managements assertion fifth third mortgage company complied year ended december 31 2005 established minimum servicing standards residential mortgage loans described accompanying managements assertion dated march 9 2006 management responsible companys compliance minimum servicing standards responsibility express opinion managements assertion companys compliance based examination conducted accordance attestation standards established american institute certified public accountants adopted public company accounting oversight board accordingly included examining test basis evidence companys compliance minimum servicing standards performing procedures considered necessary circumstances believe examination provides reasonable basis opinion examination provide legal determination companys compliance minimum servicing standards opinion managements assertion company complied aforementioned minimum servicing standards year ended december 31 2005 fairly stated material respects based criteria set forth appendix deloitte touche llp cincinnati ohio march 9 2006 page logo fifth third bank managements assertion year ended december 31 2005 fifth third mortgage company complied material respects companys established minimum servicing standards residential mortgage loans set forth appendix standards based mortgage bankers association americas uniform single attestation program mortgage bankers period company effect fidelity bond amount 75000000 errors omissions policy amount 5000000 bruce hrovat bruce hrovat senior vice president charles maness charles maness vice president march 9 2006 page appendix minimum servicing standards set forth mortgage bankers association americas uniform single attestation program mortgage bankers custodial bank accounts 1 reconciliations shall prepared monthly basis custodial bank accounts related bank clearing accounts reconciliations shall mathematically accurate prepared within fortyfive 45 calendar days cutoff date reviewed approved someone person prepared reconciliation document explanations reconciling items reconciling items shall resolved within ninety 90 calendar days original identification 2 funds servicing entity shall advanced cases overdraft investors mortgagors account 3 custodial account shall maintained federally insured depository institution trust applicable investor 4 escrow funds held trust mortgagor shall returned mortgagor within thirty 30 calendar days payoff mortgage loan ii mortgage payments 1 mortgage payments shall deposited custodial bank accounts related bank clearing accounts within two business days receipt 2 mortgage payments made accordance mortgagors loan documents shall posted applicable records within two business days receipt 3 mortgage payments shall allocated principal interest insurance taxes escrow items accordance mortgagors loan documents 4 mortgage payments identified payoffs shall allocated accordance mortgagors loan documents iii disbursements 1 disbursements made via wire transfer behalf mortgagor investor shall made authorized personnel 2 disbursements made behalf mortgagor investor shall posted within two business days mortgagors investors records maintained servicing entity 3 tax insurance payments shall made penalty insurance policy expiration dates indicated tax bills insurance premium notices respectively page provided support received servicing entity least thirty 30 calendar days prior dates 4 late payment penalties paid conjunction payment tax bill insurance premium notice shall paid servicing entitys funds charged mortgagor unless late payment due mortgagors error omission 5 amounts remitted investors per servicers investor reports shall agree cancelled checks form payment custodial bank statements 6 unused checks shall safeguarded prevent unauthorized access iv investor accounting reporting 1 servicing entitys investor reports shall agree reconcile investors records monthly basis total unpaid principal balance number loans serviced servicing entity v mortgagor loan accounting 1 servicing entitys mortgage loan records shall agree reconcile records mortgagor respect unpaid principal balance monthly basis 2 adjustments arm loans shall computed based related contract terms arm rider 3 escrow accounts shall analyzed accordance mortgagors loan documents least annual basis 4 interest escrow accounts shall paid credited mortgagors accordance applicable state laws vi delinquencies 1 records documenting collection efforts shall maintained period loan default shall updated least monthly records shall describe entitys activities monitoring delinquent contracts including example phone calls letters payment rescheduling plans cases delinquency deemed temporary eg illness unemployment vii insurance policies 1 fidelity bond errors omissions policy shall effect servicing entity throughout reporting period amount coverage represented investors managements assertion ex991 c logokpmg kpmg llp suite 601 12 fountain plaza buffalo ny 14202 independent accountants report board directors hsbc mortgage corporation usa examined managements assertion included accompanying management assertion hsbc mortgage corporation usa complied minimum servicing standards set forth mortgage bankers association americas uniform single attestation program mortgage bankers usap year ended december 31 2005 management responsible hsbc mortgage corporation usas compliance minimum servicing standards responsibility express opinion managements assertion companys compliance based examination conducted accordance attestation standards established american institute certified public accountants accordingly included examining test basis evidence hsbc mortgage corporation usas compliance minimum servicing standards specified performing procedures considered necessary circumstances believe examination provides reasonable basis opinion examination provide legal determination hsbc mortgage corporation usas compliance minimum servicing standards opinion managements assertion hsbc mortgage corporation usa complied aforementioned minimum servicing standards year ended december 31 2005 fairly stated material respects kpmg llp february 27 2006 kpmg llp us limited liability partnership us member firm kpmg international swiss cooperative ex991 report independent registered public accounting firm board directors washington mutual bank subsidiaries examined managements assertion washington mutual bank subsidiaries company complied year ended december 31 2005 established minimum servicing standards described accompanying managements assertion dated march 10 2006 management responsible companys compliance minimum servicing standards responsibility express opinion managements assertion companys compliance based examination conducted accordance attestation standards established american institute certified public accountants adopted public company accounting oversight board accordingly included examining test basis evidence companys compliance minimum servicing standards performing procedures considered necessary circumstances believe examination provides reasonable basis opinion examination provide legal determination companys compliance minimum servicing standards opinion managements assertion company complied aforementioned minimum servicing standards year ended december 31 2005 fairly stated material respects based criteria set forth appendix deloitte touche llp march 10 2006 page washington mutual managements assertion year ended december 31 2005 washington mutual bank subsidiaries company complied material respects companys established minimum servicing standards single family residential mortgages set forth appendix standards based mortgage bankers association americas uniform single attestation program mortgage bankers period company effect fidelity bond amount 110 million errors omissions policy amount 20 million steve rotella steve rotella president chief operating officer david schneider david schneider executive vice president home loans john berens john berens senior vice president home loans loan servicing march 10 2006 1201 3rd avenue seattle wa 98101 page washington mutual bank subsidiaries appendix minimum servicing standards single family residential mortgages set forth mortgage bankers association americas uniform single attestation program mortgage bankers custodial bank accounts 1 reconciliations shall prepared monthly basis custodial bank accounts related bank clearing accounts reconciliations shall mathematically accurate prepared within fortyfive 45 calendar days cutoff date reviewed approved someone person prepared reconciliation document explanations reconciling items reconciling items shall resolved within ninety 90 calendar days original identification 2 funds servicing entity shall advanced cases overdraft investors mortgagors account 3 custodial account shall maintained federally insured depository institution trust applicable investor 4 escrow funds held trust mortgagor shall returned mortgagor within thirty 30 calendar days payoff mortgage loan ii mortgage payments 1 mortgage payments shall deposited custodial bank accounts related bank clearing accounts within two business days receipt 2 mortgage payments made accordance mortgagors loan documents shall posted applicable mortgagor records within two business days receipt 3 mortgage payments shall allocated principal interest insurance taxes escrow items accordance mortgagors loan documents 4 mortgage payments identified loan payoffs shall allocated accordance mortgagors loan documents iii disbursements 1 disbursements made via wire transfer behalf mortgagor investor shall made authorized personnel 3 page 2 disbursements made behalf mortgagor investor shall posted within two business days mortgagors investors records maintained servicing entity 3 tax insurance payments shall made penalty insurance policy expiration dates indicated tax bills insurance premium notices respectively provided support received servicing entity least thirty 30 calendar days prior dates 4 late payment penalties paid conjunction payment tax bill insurance premium notice shall paid servicing entitys funds charged mortgagor unless late payment due mortgagors error omission 5 amounts remitted investors per servicers investor reports shall agree cancelled checks form payment custodial bank statements 6 unused checks shall safeguarded prevent unauthorized access iv investor accounting reporting 1 servicing entitys investor reports shall agree reconcile investors records monthly basis total unpaid principal balance number loans serviced servicing entity v mortgagor loan accounting 1 servicing entitys mortgage loan records shall agree reconcile records mortgagors respect unpaid principal balance monthly basis 2 adjustments arm loans shall computed based related mortgage note arm rider 3 escrow accounts shall analyzed accordance mortgagors loan documents least annual basis 4 interest escrow accounts shall paid credited mortgagors accordance applicable state laws vi delinquencies 1 records documenting collection efforts shall maintained period loan default shall updated least monthly records shall describe entitys activities monitoring delinquent loans including example phone calls letters mortgage payment rescheduling plans cases delinquency deemed temporary eg illness unemployment vii insurance policies 1 fidelity bond errors omissions policy shall effect servicing entity throughout reporting period amount coverage represented investors managements assertion 4 ex991 e logo kpmg llp 2500 ruan center 666 grand avenue des moines ia 50309 independent accountants report board directors wells fargo home mortgage division wells fargo bank na examined managements assertion included accompanying assertion management wells fargo home mortgage division wells fargo bank na company complied minimum servicing standards set forth mortgage bankers association americas uniform single attestation program mortgage bankers usap year ended december 31 2005 management responsible companys compliance minimum servicing standards responsibility express opinion managements assertion companys compliance based examination conducted accordance attestation standards established american institute certified public accountants accordingly included examining test basis evidence companys compliance minimum servicing standards specified performing procedures considered necessary circumstances believe examination provides reasonable basis opinion examination provide legal determination companys compliance minimum servicing standards opinion managements assertion company complied aforementioned minimum servicing standards year ended december 31 2005 fairly stated material respects kpmg llp february 21 2006 kpmg llp us limited liability partnership us member firm kpmg international swiss cooperative ex991 f logo ernst young ernst young llp suite 3300 370 17th street denver colorado 802025663 phone 720 9314000 fax 720 9314444 wwweycom report managements assertion compliance specified minimum servicing standards set forth uniform single attestation program mortgage bankers report independent registered public accounting firm member aurora loan services llc examined managements assertion included accompanying report titled report management aurora loan services llc company complied servicing standards identified exhibit specified minimum servicing standards report management set forth mortgage bankers association americas uniform single attestation program mortgage bankers usap year ended november 30 2005 management responsible companys compliance specified minimum servicing standards responsibility express opinion managements assertion companys compliance based examination made accordance standards established american institute certified public accountants accordingly included examining test basis evidence companys compliance specified minimum servicing standards performing procedures considered necessary circumstances believe examination provides reasonable basis opinion examination provide legal determination companys compliance specified minimum servicing standards opinion managements assertion company complied aforementioned specified minimum servicing standards year ended november 30 2005 fairly stated material respects ernst young llp february 17 2006 member practice ernst young global page aurora loan services lehman brothers company exhibit specified minimum servicing standards custodial bank accounts 1 reconciliations shall prepared monthly basis custodial bank accounts related bank clearing accounts reconciliations shall mathematically accurate b prepared within fortyfive 45 calendar days cutoff date cutoff date bank account reconciled every month may coincide prescribed investor reporting date shall consistent period c reviewed approved someone person prepared reconciliation document explanations reconciling items reconciling items shall resolved within ninety 90 calendar days original identification 2 funds servicing entity shall advanced cases overdraft investors mortgagors account 3 custodial account shall maintained federally insured depository institution trust applicable investor 4 escrow funds held trust mortgagor shall returned mortgagor within thirty 30 calendar days payoff mortgage loan ii mortgage payments 1 mortgage payments shall deposited custodial bank accounts related bank clearing accounts within two 2 business days receipt 2 mortgage payments made accordance mortgagors loan documents shall posted applicable mortgagor records within two 2 business days receipt 3 mortgage payments shall allocated principal interest insurance taxes escrow items accordance mortgagors loan documents 4 mortgage payments identified loan payoffs shall allocated accordance mortgagors loan documents 10350 park meadows drive littleton co 80124 page aurora loan services lehman brothers company exhibit specified minimum servicing standards continued iii disbursements 1 disbursements made via wire transfer behalf mortgagor investor shall made authorized personnel 2 disbursements made behalf mortgagor investor shall posted within two 2 business days mortgagors investors records maintained servicing entity 3 tax insurance payments shall made penalty insurance policy expiration dates indicated tax bills insurance premium notices respectively provided support received servicing entity least thirty 30 calendar days prior dates 4 late payment penalties paid conjunction payment tax bill insurance premium notice shall paid servicing entitys funds charged mortgagor unless late payment due mortgagors error omission 5 amounts remitted investors per servicers investor reports shall agree cancelled checks form payment custodial bank statements 6 unissued checks shall safeguarded prevent unauthorized access iv investor accounting reporting 1 servicing entitys investor reports shall agree reconcile investors records monthly basis total unpaid principal balance number loans serviced servicing entity v mortgagor loan accounting 1 servicing entitys mortgage loan records shall agree reconcile records mortgagors respect unpaid principal balance monthly basis 2 adjustments adjustable rate mortgage arm loans shall computed based related mortgage note arm rider 3 escrow accounts shall analyzed accordance mortgagors loan documents least annual basis 4 interest escrow accounts shall paid credited mortgagors accordance applicable state laws 10350 park meadows drive littleton co 80124 page aurora loan services lehman brothers company exhibit specified minimum servicing standards continued vi delinquencies 1 records documenting collection efforts shall maintained period loan default shall updated least monthly records shall describe entitys activities monitoring delinquent loans including example phone calls letters mortgage payment rescheduling plans cases delinquency deemed temporary ie illness unemployment vii insurance policies 1 fidelity bond errors omissions policy shall effect servicing entity throughout reporting period amount coverage represented investors managements assertion 10350 park meadows drive littleton co 80124 ex992 logo countrywide home loans 2900 madera road simi valley california 930656298 805 9551000 management assertion march 3 2005 year ended december 31 2005 countrywide financial corporation subsidiaries including whollyowned subsidiary countrywide home loans inc chl countrywide home loans servicing lp whollyowned subsidiary chl collectively company complied material respects minimum servicing standards set forth mortgage bankers association americas uniform single attestation mortgage bankers period company effect mortgage bankers fidelity bond amount 200 million errors omissions policy amount 100 million 130 million period january 1 2005 august 1 2005 period august 1 2005 december 31 2005 respectively steve bailey steve bailey senior managing director chief executive officer loan administration kevin meyers kevin meyers managing director chief financial officer loan administration ex992 b logo fifth third bank managements assertion year ended december 31 2005 fifth third mortgage company complied material respects companys established minimum servicing standards residential mortgage loans set forth appendix standards based mortgage bankers association americas uniform single attestation program mortgage bankers period company effect fidelity bond amount 75000000 errors omissions policy amount 5000000 bruce hrovat bruce hrovat senior vice president charles maness charles maness vice president march 9 2006 page appendix minimum servicing standards set forth mortgage bankers association americas uniform single attestation program mortgage bankers custodial bank accounts 1 reconciliations shall prepared monthly basis custodial bank accounts related bank clearing accounts reconciliations shall mathematically accurate prepared within fortyfive 45 calendar days cutoff date reviewed approved someone person prepared reconciliation document explanations reconciling items reconciling items shall resolved within ninety 90 calendar days original identification 2 funds servicing entity shall advanced cases overdraft investors mortgagors account 3 custodial account shall maintained federally insured depository institution trust applicable investor 4 escrow funds held trust mortgagor shall returned mortgagor within thirty 30 calendar days payoff mortgage loan ii mortgage payments 1 mortgage payments shall deposited custodial bank accounts related bank clearing accounts within two business days receipt 2 mortgage payments made accordance mortgagors loan documents shall posted applicable records within two business days receipt 3 mortgage payments shall allocated principal interest insurance taxes escrow items accordance mortgagors loan documents 4 mortgage payments identified payoffs shall allocated accordance mortgagors loan documents iii disbursements 1 disbursements made via wire transfer behalf mortgagor investor shall made authorized personnel 2 disbursements made behalf mortgagor investor shall posted within two business days mortgagors investors records maintained servicing entity 3 tax insurance payments shall made penalty insurance policy expiration dates indicated tax bills insurance premium notices respectively page provided support received servicing entity least thirty 30 calendar days prior dates 4 late payment penalties paid conjunction payment tax bill insurance premium notice shall paid servicing entitys funds charged mortgagor unless late payment due mortgagors error omission 5 amounts remitted investors per servicers investor reports shall agree cancelled checks form payment custodial bank statements 6 unused checks shall safeguarded prevent unauthorized access iv investor accounting reporting 1 servicing entitys investor reports shall agree reconcile investors records monthly basis total unpaid principal balance number loans serviced servicing entity v mortgagor loan accounting 1 servicing entitys mortgage loan records shall agree reconcile records mortgagor respect unpaid principal balance monthly basis 2 adjustments arm loans shall computed based related contract terms arm rider 3 escrow accounts shall analyzed accordance mortgagors loan documents least annual basis 4 interest escrow accounts shall paid credited mortgagors accordance applicable state laws vi delinquencies 1 records documenting collection efforts shall maintained period loan default shall updated least monthly records shall describe entitys activities monitoring delinquent contracts including example phone calls letters payment rescheduling plans cases delinquency deemed temporary eg illness unemployment vii insurance policies 1 fidelity bond errors omissions policy shall effect servicing entity throughout reporting period amount coverage represented investors managements assertion ex992 c logo hsbc management assertion year ended december 31 2005 hsbc mortgage corporation usa complied material respects minimum servicing standards set forth mortgage bankers association americas uniform single attestation program mortgage bankers period hsbc mortgage corporation usa effect fidelity bond errors omissions policies amount 697425000 10000000 respectively michael stilb michael stilb svp mortgage servicing thomas scanlon thomas scanlon chief accounting officer susan wojnar susan wojnar svp mortgage servicing business administration hsbc mortgage corporation usa 2929 walden avenue depew ny 14043 logo equal hounsing lender ex992 washington mutual managements assertion year ended december 31 2005 washington mutual bank subsidiaries company complied material respects companys established minimum servicing standards single family residential mortgages set forth appendix standards based mortgage bankers association americas uniform single attestation program mortgage bankers period company effect fidelity bond amount 110 million errors omissions policy amount 20 million steve rotella steve rotella president chief operating officer david schneider david schneider executive vice president home loans john berens john berens senior vice president home loans loan servicing march 10 2006 1201 3rd avenue seattle wa 98101 page washington mutual bank subsidiaries appendix minimum servicing standards single family residential mortgages set forth mortgage bankers association americas uniform single attestation program mortgage bankers custodial bank accounts 1 reconciliations shall prepared monthly basis custodial bank accounts related bank clearing accounts reconciliations shall mathematically accurate prepared within fortyfive 45 calendar days cutoff date reviewed approved someone person prepared reconciliation document explanations reconciling items reconciling items shall resolved within ninety 90 calendar days original identification 2 funds servicing entity shall advanced cases overdraft investors mortgagors account 3 custodial account shall maintained federally insured depository institution trust applicable investor 4 escrow funds held trust mortgagor shall returned mortgagor within thirty 30 calendar days payoff mortgage loan ii mortgage payments 1 mortgage payments shall deposited custodial bank accounts related bank clearing accounts within two business days receipt 2 mortgage payments made accordance mortgagors loan documents shall posted applicable mortgagor records within two business days receipt 3 mortgage payments shall allocated principal interest insurance taxes escrow items accordance mortgagors loan documents 4 mortgage payments identified loan payoffs shall allocated accordance mortgagors loan documents iii disbursements 1 disbursements made via wire transfer behalf mortgagor investor shall made authorized personnel 3 page 2 disbursements made behalf mortgagor investor shall posted within two business days mortgagors investors records maintained servicing entity 3 tax insurance payments shall made penalty insurance policy expiration dates indicated tax bills insurance premium notices respectively provided support received servicing entity least thirty 30 calendar days prior dates 4 late payment penalties paid conjunction payment tax bill insurance premium notice shall paid servicing entitys funds charged mortgagor unless late payment due mortgagors error omission 5 amounts remitted investors per servicers investor reports shall agree cancelled checks form payment custodial bank statements 6 unused checks shall safeguarded prevent unauthorized access iv investor accounting reporting 1 servicing entitys investor reports shall agree reconcile investors records monthly basis total unpaid principal balance number loans serviced servicing entity v mortgagor loan accounting 1 servicing entitys mortgage loan records shall agree reconcile records mortgagors respect unpaid principal balance monthly basis 2 adjustments arm loans shall computed based related mortgage note arm rider 3 escrow accounts shall analyzed accordance mortgagors loan documents least annual basis 4 interest escrow accounts shall paid credited mortgagors accordance applicable state laws vi delinquencies 1 records documenting collection efforts shall maintained period loan default shall updated least monthly records shall describe entitys activities monitoring delinquent loans including example phone calls letters mortgage payment rescheduling plans cases delinquency deemed temporary eg illness unemployment vii insurance policies 1 fidelity bond errors omissions policy shall effect servicing entity throughout reporting period amount coverage represented investors managements assertion 4 ex992 e logo wells home fargo mortgage 1 home campus des moines ia 50328 assertion management wells fargo home mortgage division wells fargo bank na year ended december 31 2005 wells fargo home mortgage division wells fargo bank na company complied material respects minimum servicing standards set forth mortgage bankers association americas uniform single attestation program mortgage bankers period company effect fidelity bond along errors omissions policy amounts 100 million 20 million respectively michael j heid february 21 2006 michael j heid division president capital markets finance administration wells fargo home mortgage division wells fargo bank na franklin r codel february 21 2006 franklin r codel executive vice president finance corporate real estate wells fargo home mortgage division wells fargo bank na mary coffin february 21 2006 mary coffin executive vice president servicing post closing wells fargo home mortgage division wells fargo bank na cara k heiden cara k heiden division president natl consumer institutional lending wells fargo home mortgage division wells fargo bank na wells fargo home mortgage division wells fargo bank na ex992 f logo aurora loan services lehman brothers company february 17 2006 ernst young llp suite 3300 370 17th street denver co 80202 connection compliance attestation engagement relating assertion aurora loan services llcs company compliance servicing standards specified minimum servicing standards set forth exhibit report management attached based mortgage bankers association americas uniform single attestation program mortgage bankers usap year ended november 30 2005 recognize obtaining representations us concerning information contained letter significant procedure enabling form opinion whether assertion companys compliance specified minimum servicing standards fairly stated material respects accordingly make following representations respect compliance specified minimum servicing standards year ended november 30 2005 true best knowledge belief recognize members management company responsible determining identifying specified minimum servicing standards ensuring sufficiency adequacy based servicing requirements specified underlying servicing agreements concluded confirmed specified minimum servicing standards sufficient adequate satisfy applicable requirements servicing agreements acknowledge members management company responsible complying specified minimum servicing standards also responsible establishing maintaining effective internal control compliance standards performed evaluation companys compliance specified minimum servicing standards referred november 30 2005 year ended based evaluation company complied specified minimum servicing standards set forth usap year ended november 30 2005 accept responsibility assertion managements report regarding companys compliance specified minimimum servicing standards 10350 park meadows drive littleton co 80124 page base assertion solely primarily procedures connection examination engagement known noncompliance specified minimum servicing standards year ended november 30 2005 date letter year ended november 30 2005 company effect fidelity bond policy errors omissions policy amounts 110 million 150 million respectively made available documentation related compliance specified minimum servicing standards fraud involving management employees significant roles internal control compliance specified minimum servicing standards fraud involving employees could material effect compliance specified minimum servicing standards written oral notices communications regulatory agencies securities exchange commission investors securitization trustees subservicers rating agencies internal auditors internal external parties concerning possible noncompliance specified minimum servicing standards year ended november 30 2005 date letter legal contingencies pending threatened litigation related servicing activities concerning possible noncompliance specified minimum servicing standards year ended november 30 2005 date letter events servicer default noncompliance servicer covenants servicing agreements adverse events respect servicing duties responsibilities year ended december 31 2005 date letter management responsible ensuring periodic servicer reports including filed public filings eg form 8k securitization trusts satisfy applicable requirements servicing agreements regulatory acts requirements met year ended november 30 2005 date letter also acknowledge responsible fair presentation information annual reports form 10k required year ended december 31 2005 responsible servicer recognize engaged audit review perform procedures information annual reports form 10k whenever attestation report accompanying managements assertion regarding compliance specified minimum servicing standards planned page included public document filed securities exchange commission provide document prior finalization filing review obtain authorization include report public document events transactions occurred since november 30 2005 pending would effect compliance specified minimum servicing standards date year ended understand examination conducted accordance attestation standards established american institute certified public accountants therefore designed primarily purpose expressing opinion whether assertion fairly stated material respects based specified minimum servicing standards procedures limited considered necessary purpose truly rick skogg rick skogg cochief operating officer roy browning roy browning chief financial officer william napier william napier controller page aurora loan services lehman brothers company exhibit specified minimum servicing standards custodial bank accounts 1 reconciliations shall prepared monthly basis custodial bank accounts related bank clearing accounts reconciliations shall mathematically accurate b prepared within fortyfive 45 calendar days cutoff date cutoff date bank account reconciled every month may coincide prescribed investor reporting date shall consistent period c reviewed approved someone person prepared reconciliation document explanations reconciling items reconciling items shall resolved within ninety 90 calendar days original identification 2 funds servicing entity shall advanced cases overdraft investors mortgagors account 3 custodial account shall maintained federally insured depository institution trust applicable investor 4 escrow funds held trust mortgagor shall returned mortgagor within thirty 30 calendar days payoff mortgage loan ii mortgage payments 1 mortgage payments shall deposited custodial bank accounts related bank clearing accounts within two 2 business days receipt 2 mortgage payments made accordance mortgagors loan documents shall posted applicable mortgagor records within two 2 business days receipt 3 mortgage payments shall allocated principal interest insurance taxes escrow items accordance mortgagors loan documents 4 mortgage payments identified loan payoffs shall allocated accordance mortgagors loan documents 10350 park meadows drive littleton co 80124 page aurora loan services lehman brothers company exhibit specified minimum servicing standards continued iii disbursements 1 disbursements made via wire transfer behalf mortgagor investor shall made authorized personnel 2 disbursements made behalf mortgagor investor shall posted within two 2 business days mortgagors investors records maintained servicing entity 3 tax insurance payments shall made penalty insurance policy expiration dates indicated tax bills insurance premium notices respectively provided support received servicing entity least thirty 30 calendar days prior dates 4 late payment penalties paid conjunction payment tax bill insurance premium notice shall paid servicing entitys funds charged mortgagor unless late payment due mortgagors error omission 5 amounts remitted investors per servicers investor reports shall agree cancelled checks form payment custodial bank statements 6 unissued checks shall safeguarded prevent unauthorized access iv investor accounting reporting 1 servicing entitys investor reports shall agree reconcile investors records monthly basis total unpaid principal balance number loans serviced servicing entity v mortgagor loan accounting 1 servicing entitys mortgage loan records shall agree reconcile records mortgagors respect unpaid principal balance monthly basis 2 adjustments adjustable rate mortgage arm loans shall computed based related mortgage note arm rider 3 escrow accounts shall analyzed accordance mortgagors loan documents least annual basis 4 interest escrow accounts shall paid credited mortgagors accordance applicable state laws 10350 park meadows drive littleton co 80124 page aurora loan services lehman brothers company exhibit specified minimum servicing standards continued vi delinquencies 1 records documenting collection efforts shall maintained period loan default shall updated least monthly records shall describe entitys activities monitoring delinquent loans including example phone calls letters mortgage payment rescheduling plans cases delinquency deemed temporary ie illness unemployment vii insurance policies 1 fidelity bond errors omissions policy shall effect servicing entity throughout reporting period amount coverage represented investors managements assertion 10350 park meadows drive littleton co 80124 ex993 logo aurora loan services lehman brothers company via ups february 23 2006 carla shedrick corporate trust services wells fargo bank minnesota na 9062 old anapolis road columbia md 21045 sarm 200523 annual officers certificate compliance dear ms shedrick undersigned officer certifies following period ending december 31 2005 1 reviewed activities performance master servicer preceding calendar year terms trust agreement best officers knowledge master servicer fulfilled duties responsibilities obligations agreement 2 based said review best officers knowledge master servicer default obligations terms trust agreement material respect default fulfillment obligations description default failure nature status thereof reported officer 3 best officers knowledge nothing arose lead officer believe servicer failed perform duties responsibilities obligations servicing agreement preceding calendar year 4 best officers knowledge servicer default obligations terms servicing agreement material respect default fulfillment obligations description default failure nature status thereof reported officer 5 since financial activity transaction period ending december 31 2005 master servicer received servicer annual certificates compliance annual audit report case certificates required provided time period certified r peter karr r peter karr senior vice president master servicing division logo equal housing lender ex994 distributions certificateholders made fiscal year covered report