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): December 27, 2005
(Date of earliest event reported)
Citigroup Mortgage Loan Trust Inc (as Depositor under
the Pooling and Servicing Agreement, dated as May 1, 2005,
providing for the issuance of Carrington Mortgage Loan Trust
Series 2005-OPT2 Asset Backed Pass- through Certificates, Series 2005-OPT2)
(Exact name of registrant as specified in charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-117349-13 01-0791848
(Commission File Number) (I.R.S. Employer Identification No.)
390 Greenwich Street
NEW YORK, NEW YORK 10013
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 816-6000
(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
December 27, 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 Citigroup Mortgage Loan Trust
Inc., Registrant
Date: Dec 29, 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 December 27, 2005.
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
External Parties
Table of Contents
Page
Seller
1. Certificate Payment Report
2
Stanwich Asset A. Comp.
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
FDIC
7. Foreclosure Report
12
8. Prepayment Report
14
9. Prepayment Detail Report
17
10. Realized Loss Report
23
11. Realized Loss Detail Report
26
Servicer(s)
12. Triggers and Adj. Cert. Report
27
Option One
13. Additional Certificate Report
28
Underwriter(s)
Bear Stearns & Co.
Total Number of Pages
28
Dates
Contacts
Cut-Off Date:
May 01, 2005
Brent Hoyler
Close Date:
May 05, 2005
Administrator
First Distribution Date:
June 27, 2005
(714) 247-6322
Brent.Hoyler@db.com
Address:
1761 East St. Andrew Place, Santa Ana, CA 92705
Distribution Date:
December 27, 2005
Factor Information:
(800) 735-7777
Record Date:
November 30, 2005
Main Phone Number:
(714) 247-6000
December 23, 2005
https://www.tss.db.com/invr
Page 1 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
Certificate Payment Report
Current Period Distribution - REMIC II
Prior
Current
Class
Original
Principal
Total
Realized
Deferred
Principal
Class
Type
Cur
Face Value
Balance
Interest
Principal
Distribution
Loss
Interest
Balance
(1)
(2)
(3)
(4)=(2)+(3)
(5)
(6)
(7)=(1)-(3)-(5)+(6)
A-1A
SR
$
526,319,600.00
292,364,693.38
1,113,259.78
48,027,088.00
49,140,347.78
0.00
0.00
244,337,605.38
A-1B
SR
$
212,761,000.00
212,761,000.00
821,493.86
0.00
821,493.86
0.00
0.00
212,761,000.00
A-1C
SR
$
211,963,100.00
211,963,100.00
833,486.01
0.00
833,486.01
0.00
0.00
211,963,100.00
A-1D
SR
$
99,606,500.00
99,606,500.00
400,528.80
0.00
400,528.80
0.00
0.00
99,606,500.00
A-2
SR
$
100,000,000.00
100,000,000.00
392,333.33
0.00
392,333.33
0.00
0.00
100,000,000.00
M-1
MEZ
$
87,824,700.00
87,824,700.00
360,178.85
0.00
360,178.85
0.00
0.00
87,824,700.00
M-2
MEZ
$
48,378,000.00
48,378,000.00
199,693.63
0.00
199,693.63
0.00
0.00
48,378,000.00
M-3
MEZ
$
28,282,500.00
28,282,500.00
121,017.68
0.00
121,017.68
0.00
0.00
28,282,500.00
M-4
MEZ
$
26,794,000.00
26,794,000.00
115,363.06
0.00
115,363.06
0.00
0.00
26,794,000.00
M-5
MEZ
$
24,561,100.00
24,561,100.00
106,840.79
0.00
106,840.79
0.00
0.00
24,561,100.00
M-6
MEZ
$
22,328,300.00
22,328,300.00
107,051.79
0.00
107,051.79
0.00
0.00
22,328,300.00
M-7
MEZ
$
20,095,500.00
20,095,500.00
99,026.16
0.00
99,026.16
0.00
0.00
20,095,500.00
M-8
MEZ
$
14,379,800.00
14,379,800.00
75,334.17
0.00
75,334.17
0.00
0.00
14,379,800.00
M-9
MEZ
$
25,067,000.00
25,067,000.00
138,007.76
0.00
138,007.76
0.00
0.00
25,067,000.00
CE
NOF
$
40,191,359.68
40,190,919.11
2,374,787.31
0.00
2,374,787.31
0.00
0.00
40,190,919.11
R
RES
$
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
P
NOF
$
100.00
100.00
764,023.55
0.00
764,023.55
0.00
0.00
100.00
Total
1,488,552,559.68
1,254,597,212.49
8,022,426.53
48,027,088.00
56,049,514.53
0.00
0.00
1,206,570,124.49
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
Orig. Principal
Prior
Current
Period
Period
(with Notional)
Principal
Total
Principal
Class
Starting
Ending
Method
Cusip
Balance
Balance
Interest
Principal
Distribution
Balance
(1)
(1)
(2)
(3)
(4)=(2)+(3)
(5)
A-1A
11/25/05
12/26/05
A-Act/360
144531CD0
526,319,600.00
555.488896
2.115178
91.250807
93.365985
464.238089
A-1B
11/25/05
12/26/05
A-Act/360
144531CE8
212,761,000.00
1,000.000000
3.861111
0.000000
3.861111
1,000.000000
A-1C
11/25/05
12/26/05
A-Act/360
144531CF5
211,963,100.00
1,000.000000
3.932222
0.000000
3.932222
1,000.000000
A-1D
11/25/05
12/26/05
A-Act/360
144531CG3
99,606,500.00
1,000.000000
4.021111
0.000000
4.021111
1,000.000000
A-2
11/25/05
12/26/05
A-Act/360
144531CH1
100,000,000.00
1,000.000000
3.923333
0.000000
3.923333
1,000.000000
M-1
11/25/05
12/26/05
A-Act/360
144531CJ7
87,824,700.00
1,000.000000
4.101111
0.000000
4.101111
1,000.000000
M-2
11/25/05
12/26/05
A-Act/360
144531CK4
48,378,000.00
1,000.000000
4.127778
0.000000
4.127778
1,000.000000
M-3
11/25/05
12/26/05
A-Act/360
144531CL2
28,282,500.00
1,000.000000
4.278889
0.000000
4.278889
1,000.000000
M-4
11/25/05
12/26/05
A-Act/360
144531CM0
26,794,000.00
1,000.000000
4.305556
0.000000
4.305556
1,000.000000
M-5
11/25/05
12/26/05
A-Act/360
144531CN8
24,561,100.00
1,000.000000
4.350000
0.000000
4.350000
1,000.000000
M-6
11/25/05
12/26/05
A-Act/360
144531CP3
22,328,300.00
1,000.000000
4.794444
0.000000
4.794444
1,000.000000
M-7
11/25/05
12/26/05
A-Act/360
144531CQ1
20,095,500.00
1,000.000000
4.927778
0.000000
4.927778
1,000.000000
M-8
11/25/05
12/26/05
A-Act/360
144531CR9
14,379,800.00
1,000.000000
5.238889
0.000000
5.238889
1,000.000000
M-9
11/25/05
12/26/05
A-Act/360
144531CS7
25,067,000.00
1,000.000000
5.505556
0.000000
5.505556
1,000.000000
CE
11/01/05
11/30/05
A-30/360
CA05O2001
40,191,359.68
999.989038
59.087011
0.000000
59.087011
999.989038
R
11/01/05
11/30/05
A-30/360
CA05O2003
0.00
0.000000
0.000000
0.000000
0.000000
0.000000
P
11/01/05
11/30/05
F-30/360
CA05O2002
100.00
1,000.000000
7,640,235.500000
0.000000
7,640,235.500000
1,000.000000
Page 2 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
Distribution to Date - REMIC II
Current
Original
Unscheduled
Scheduled
Total
Total
Realized
Deferred
Principal
Class
Face Value
Interest
Principal
Principal
Principal
Distribution
Loss
Interest
Balance
(1)
(2)
(3)
(4)
(5)=(3)+(4)
(6)=(2)+(5)
(7)
(8)
(9)=(1)-(5)-(7)+(8)
A-1A
526,319,600.00
10,114,228.84
275,886,778.90
6,095,215.72
281,981,994.62
292,096,223.46
0.00
0.00
244,337,605.38
A-1B
212,761,000.00
5,237,378.80
0.00
0.00
0.00
5,237,378.80
0.00
0.00
212,761,000.00
A-1C
211,963,100.00
5,328,900.35
0.00
0.00
0.00
5,328,900.35
0.00
0.00
211,963,100.00
A-1D
99,606,500.00
2,569,474.57
0.00
0.00
0.00
2,569,474.57
0.00
0.00
99,606,500.00
A-2
100,000,000.00
2,507,514.28
0.00
0.00
0.00
2,507,514.28
0.00
0.00
100,000,000.00
M-1
87,824,700.00
2,317,364.83
0.00
0.00
0.00
2,317,364.83
0.00
0.00
87,824,700.00
M-2
48,378,000.00
1,286,028.52
0.00
0.00
0.00
1,286,028.52
0.00
0.00
48,378,000.00
M-3
28,282,500.00
783,350.73
0.00
0.00
0.00
783,350.73
0.00
0.00
28,282,500.00
M-4
26,794,000.00
747,392.68
0.00
0.00
0.00
747,392.68
0.00
0.00
26,794,000.00
M-5
24,561,100.00
693,158.70
0.00
0.00
0.00
693,158.70
0.00
0.00
24,561,100.00
M-6
22,328,300.00
703,332.23
0.00
0.00
0.00
703,332.23
0.00
0.00
22,328,300.00
M-7
20,095,500.00
652,760.53
0.00
0.00
0.00
652,760.53
0.00
0.00
20,095,500.00
M-8
14,379,800.00
500,091.53
0.00
0.00
0.00
500,091.53
0.00
0.00
14,379,800.00
M-9
25,067,000.00
921,062.64
0.00
0.00
0.00
921,062.64
0.00
0.00
25,067,000.00
CE
40,191,359.68
21,683,296.08
427.33
13.24
440.57
21,683,736.65
0.00
0.00
40,190,919.11
R
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
P
100.00
3,745,956.30
0.00
0.00
0.00
3,745,956.30
0.00
0.00
100.00
Total
1,488,552,559.68
59,791,291.61
275,887,206.23
6,095,228.96
281,982,435.19
341,773,726.80
0.00
0.00
1,206,570,124.49
Interest Detail - REMIC II
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-1A
4.28375%
292,364,693.38
1,113,259.78
0.00
0.00
0.00
1,113,259.78
1,113,259.78
0.00
A-1B
4.34375%
212,761,000.00
821,493.86
0.00
0.00
0.00
821,493.86
821,493.86
0.00
A-1C
4.42375%
211,963,100.00
833,486.01
0.00
0.00
0.00
833,486.01
833,486.01
0.00
A-1D
4.52375%
99,606,500.00
400,528.80
0.00
0.00
0.00
400,528.80
400,528.80
0.00
A-2
4.41375%
100,000,000.00
392,333.33
0.00
0.00
0.00
392,333.33
392,333.33
0.00
M-1
4.61375%
87,824,700.00
360,178.85
0.00
0.00
0.00
360,178.85
360,178.85
0.00
M-2
4.64375%
48,378,000.00
199,693.63
0.00
0.00
0.00
199,693.63
199,693.63
0.00
M-3
4.81375%
28,282,500.00
121,017.68
0.00
0.00
0.00
121,017.68
121,017.68
0.00
M-4
4.84375%
26,794,000.00
115,363.06
0.00
0.00
0.00
115,363.06
115,363.06
0.00
M-5
4.89375%
24,561,100.00
106,840.79
0.00
0.00
0.00
106,840.79
106,840.79
0.00
M-6
5.39375%
22,328,300.00
107,051.79
0.00
0.00
0.00
107,051.79
107,051.79
0.00
M-7
5.54375%
20,095,500.00
99,026.16
0.00
0.00
0.00
99,026.16
99,026.16
0.00
M-8
5.89375%
14,379,800.00
75,334.17
0.00
0.00
0.00
75,334.17
75,334.17
0.00
M-9
6.19375%
25,067,000.00
138,007.76
0.00
0.00
0.00
138,007.76
138,007.76
0.00
CE
0.00000%
40,190,919.11
0.00
0.00
0.00
0.00
0.00
2,374,787.31
0.00
R
0.00000%
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
P
0.00000%
100.00
0.00
0.00
0.00
0.00
0.00
764,023.55
0.00
Total
1,254,597,212.49
4,883,615.67
0.00
0.00
0.00
4,883,615.67
8,022,426.53
0.00
Page 3 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
Collection Account Report
SUMMARY
Group 2
Group 1
Total
Principal Collections
48,027,088.00
48,027,088.00
Principal Withrawals
0.00
0.00
Principal Other Accounts
0.00
0.00
TOTAL NET PRINCIPAL
48,027,088.00
48,027,088.00
Interest Collections
7,458,057.11
7,458,057.11
Interest Withdrawals
-0.00
-0.00
Interest Other Accounts
764,023.55
764,023.55
Interest Fees
-199,654.13
-199,654.13
TOTAL NET INTEREST
8,022,426.53
8,022,426.53
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION
56,049,514.53
56,049,514.53
PRINCIPAL - COLLECTIONS
Group 2
Group 1
Total
Scheduled Principal Received
807,096.57
807,096.57
Prepayments In Full
47,177,412.60
47,177,412.60
Curtailments
42,578.83
42,578.83
Liquidations
0.00
0.00
Insurance Principal
0.00
0.00
Repurchased Principal Amounts
0.00
0.00
Other Principal
0.00
0.00
Total Realized Loss Of Principal
-0.00
-0.00
Delinquent Principal
-312,836.56
-312,836.56
Advanced Principal
312,836.56
312,836.56
TOTAL PRINCIPAL COLLECTED
48,027,088.00
48,027,088.00
PRINCIPAL - WITHDRAWALS
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS
Group 2
Group 1
Total
TOTAL OTHER ACCOUNTS PRINCIPAL
0.00
0.00
Page 4 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
INTEREST - COLLECTIONS
Group 2
Group 1
Total
Scheduled Interest
7,576,757.03
7,576,757.03
Liquidation Interest
0.00
0.00
Repurchased Interest
0.00
0.00
Insurance Interest
0.00
0.00
Other Interest
0.00
0.00
Relief Act Interest Shortfalls
-0.00
-0.00
Prepayment Interest Shortfalls
-33,958.20
-33,958.20
Compensating Interest
33,958.20
33,958.20
Delinquent Interest
-2,975,442.22
-2,975,442.22
Interest Advanced
2,856,742.30
2,856,742.30
TOTAL INTEREST COLLECTED
7,458,057.11
7,458,057.11
INTEREST - WITHDRAWALS
Group 2
Group 1
Total
Nonrecoverable Advances
0.00
TOTAL INTEREST WITHDRAWALS
0.00
0.00
INTEREST - OTHER ACCOUNTS
Group 2
Group 1
Total
Prepayment Charges
764,023.55
TOTAL INTEREST OTHER ACCOUNTS
764,023.55
764,023.55
INTEREST - FEES
Group 2
Group 1
Total
Current Servicing Fees
194,949.39
194,949.39
Current Trustee Fees
4,704.74
4,704.74
TOTAL INTEREST OTHER FEES
199,654.13
199,654.13
Page 5 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
Credit Enhancement Report
ACCOUNTS
RESERVE
Net Wac Carryover Reserve Account Deposit
0.00
Releases
0.00
Withdrawals
0.00
INSURANCE
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES
Group 2
Group 1
Total
Begining Overcollateralization Amount
40,190,919.11
Ending Overcollateralized Amount
40,190,919.11
Overcollateralization Release Amount
0.00
Overcollateralization Deficiency Amount
0.00
Overcollateralization Target Amount
40,190,919.11
Page 6 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
Collateral Report
COLLATERAL
Group 2
Group 1
Total
Loan Count:
Original
7,717
7,717
Prior
6,682
6,682
Prefunding
0
0
Scheduled Paid Offs
-0
-0
Full Voluntary Prepayments
-228
-228
Repurchases
-0
-0
Liquidations
-0
-0
Current
6,454
6,454
Principal Balance:
Original
1,488,552,559.63
1,488,552,559.63
Prior
1,254,597,212.49
1,254,597,212.49
Prefunding
0.00
0.00
Scheduled Principal
-807,096.57
-807,096.57
Partial Prepayments
-42,578.83
-42,578.83
Full Voluntary Prepayments
-47,177,412.60
-47,177,412.60
Repurchases
-0.00
-0.00
Liquidations
-0.00
-0.00
Current
1,206,570,124.49
1,206,570,124.49
PREFUNDING
SPACE INTENTIONALLY LEFT BLANK
Page 7 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
CHARACTERISTICS
Group 2
Group 1
Total
Weighted Average Coupon Original
7.28787%
7.28787%
Weighted Average Coupon Prior
7.25775%
7.25775%
Weighted Average Coupon Current
7.24703%
7.24703%
Weighted Average Months to Maturity Original
355
355
Weighted Average Months to Maturity Prior
350
350
Weighted Average Months to Maturity Current
349
349
Weighted Avg Remaining Amortization Term Original
355
355
Weighted Avg Remaining Amortization Term Prior
350
350
Weighted Avg Remaining Amortization Term Current
349
349
Weighted Average Seasoning Original
3.17
3.17
Weighted Average Seasoning Prior
8.16
8.16
Weighted Average Seasoning Current
9.17
9.17
Page 8 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
ARM CHARACTERISTICS
Group 2
Group 1
Total
Weighted Average Margin Original
5.33133%
5.33133%
Weighted Average Margin Prior
5.30220%
5.30220%
Weighted Average Margin Current
5.29263%
5.29263%
Weighted Average Max Rate Original
13.26931%
13.26931%
Weighted Average Max Rate Prior
13.23578%
13.23578%
Weighted Average Max Rate Current
13.22417%
13.22417%
Weighted Average Min Rate Original
7.25868%
7.25868%
Weighted Average Min Rate Prior
7.22703%
7.22703%
Weighted Average Min Rate Current
7.21568%
7.21568%
Weighted Average Cap Up Original
1.00620%
1.00620%
Weighted Average Cap Up Prior
1.00519%
1.00519%
Weighted Average Cap Up Current
1.00509%
1.00509%
Weighted Average Cap Down Original
1.00620%
1.00620%
Weighted Average Cap Down Prior
1.00519%
1.00519%
Weighted Average Cap Down Current
1.00509%
1.00509%
SERVICING FEES & ADVANCES
Group 2
Group 1
Total
Current Servicing Fees
194,949.39
194,949.39
Delinquent Servicing Fees
118,699.91
118,699.91
TOTAL SERVICING FEES
313,649.31
313,649.31
Compensating Interest
-33,958.20
-33,958.20
Delinquent Servicing Fees
-118,699.91
-118,699.91
COLLECTED SERVICING FEES
160,991.20
160,991.20
Aggregate Advances with respect to this Distribution
3,169,578.86
3,169,578.86
ADDITIONAL COLLATERAL INFORMATION
Group 2
Group 1
Total
Net Prepayment Interest Shortfall
0.00
0.00
Libor For Current Period
4.1938%
Page 9 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
Delinquency Report
TOTAL
< 1 PAYMENT
1 PAYMENT
2 PAYMENTS
3+ PAYMENTS
TOTAL
DELINQUENT
Balance
21,202,647.70
9,193,598.42
11,293,619.51
41,689,865.63
% Balance
1.76%
0.76%
0.94%
3.46%
# Loans
120
65
66
251
% # Loans
1.86%
1.01%
1.02%
3.89%
FORECLOSURE
Balance
332,905.28
527,159.82
219,821.68
9,324,153.10
10,404,039.88
% Balance
0.03%
0.04%
0.02%
0.77%
0.86%
# Loans
3
1
1
56
61
% # Loans
0.05%
0.02%
0.02%
0.87%
0.95%
BANKRUPTCY
Balance
6,719,044.35
477,068.91
698,932.28
1,362,402.31
9,257,447.85
% Balance
0.56%
0.04%
0.06%
0.11%
0.77%
# Loans
40
3
7
11
61
% # Loans
0.62%
0.05%
0.11%
0.17%
0.95%
REO
Balance
0.00
0.00
0.00
0.00
0.00
% 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%
TOTAL
Balance
7,051,949.63
22,206,876.43
10,112,352.38
21,980,174.92
61,351,353.36
% Balance
0.58%
1.84%
0.84%
1.82%
5.08%
# Loans
43
124
73
133
373
% # Loans
0.67%
1.92%
1.13%
2.06%
5.78%
Page 10 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
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 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
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
11073184 1
156,000.00
155,503.28
01-Mar-2005
7.350%
OR - 80.00%
360
01-Mar-2005
11073897 1
452,000.00
449,386.19
01-Jun-2005
8.350%
CA - 80.00%
360
01-Apr-2005
41064789 1
151,328.00
150,351.24
01-May-2005
7.800%
IN - 80.00%
360
01-Apr-2005
51054982 1
129,750.00
128,750.36
01-Jul-2005
7.850%
GA - 75.00%
360
01-Mar-2005
51055417 1
114,750.00
114,149.74
01-Oct-2005
9.375%
GA - 88.61%
360
01-Mar-2005
51055866 1
221,000.00
219,821.68
01-Aug-2005
8.750%
GA - 85.00%
360
01-Apr-2005
81053611 1
152,000.00
151,999.50
01-May-2005
6.640%
VA - 80.00%
360
01-Apr-2005
81053836 1
104,000.00
103,439.81
01-May-2005
8.700%
MD - 46.64%
360
01-Apr-2005
91030740 1
52,000.00
51,857.53
01-Jun-2005
11.900%
IN - 65.00%
360
01-Apr-2005
101045716 1
80,000.00
79,782.83
01-Jun-2005
11.950%
TX - 64.52%
360
01-Apr-2005
131030092 1
169,000.00
168,494.04
01-Jun-2005
12.000%
KY - 65.00%
360
01-Mar-2005
131030651 1
57,338.00
57,175.63
01-May-2005
11.750%
OH - 79.64%
360
01-Apr-2005
131030684 1
145,350.00
144,365.23
01-Jul-2005
7.570%
MI - 95.00%
360
01-Apr-2005
141044986 1
185,250.00
184,454.76
01-May-2005
9.800%
CT - 65.00%
360
01-Apr-2005
141044999 1
96,000.00
95,632.09
01-Jul-2005
10.340%
NY - 80.00%
360
01-Apr-2005
141045116 1
136,400.00
135,359.88
01-Jun-2005
6.950%
MA - 80.00%
360
01-Apr-2005
141045155 1
273,600.00
271,529.84
01-Jun-2005
6.990%
NY - 80.00%
360
01-Apr-2005
141045535 1
112,000.00
111,514.18
01-Jun-2005
9.750%
CT - 80.00%
360
01-Apr-2005
151027692 1
62,100.00
61,813.22
01-Jun-2005
9.450%
PA - 90.00%
360
01-Apr-2005
161039482 1
264,000.00
262,278.54
01-May-2005
7.750%
MA - 80.00%
360
01-Apr-2005
171023414 1
399,999.00
398,103.07
01-May-2005
9.850%
CA - 59.70%
360
01-Mar-2005
191023530 1
99,750.00
99,151.66
01-Nov-2005
9.450%
WA - 35.00%
360
01-Apr-2005
231061936 1
632,250.00
628,409.13
01-May-2005
8.100%
NY - 81.58%
360
01-Apr-2005
231062339 1
103,500.00
102,986.34
01-Jun-2005
9.100%
CT - 90.00%
360
01-Apr-2005
261050562 1
131,250.00
130,779.06
01-May-2005
10.650%
FL - 75.00%
360
01-Apr-2005
311025673 1
232,500.00
231,089.21
01-Apr-2005
8.650%
NJ - 75.00%
360
01-Mar-2005
321023776 1
208,000.00
208,000.00
01-May-2005
6.950%
CO - 80.00%
360
01-Apr-2005
331033823 1
159,250.00
158,634.60
01-Jun-2005
10.300%
NY - 65.00%
360
01-Apr-2005
341022333 1
59,600.00
59,302.44
01-Apr-2005
9.600%
SC - 80.00%
360
01-Mar-2005
341022850 1
62,400.00
62,099.70
01-Jun-2005
9.250%
SC - 48.00%
360
01-Apr-2005
351024238 1
150,000.00
149,335.60
01-Jul-2005
9.650%
TX - 75.00%
360
01-Apr-2005
361023427 1
80,000.00
79,570.42
01-May-2005
8.750%
MI - 80.00%
360
01-Apr-2005
381019105 1
213,000.00
211,082.54
01-Jun-2005
6.650%
RI - 75.00%
360
01-Mar-2005
381019564 1
167,000.00
166,053.75
01-May-2005
8.450%
MA - 77.67%
360
01-Apr-2005
381020059 1
195,000.00
193,928.16
01-Jul-2005
8.600%
MA - 66.10%
360
01-Apr-2005
521023330 1
71,200.00
70,915.73
01-Jul-2005
10.150%
MO - 80.00%
360
01-Apr-2005
611014141 1
294,000.00
291,963.00
01-Jun-2005
7.990%
NY - 68.37%
360
01-Mar-2005
611014621 1
155,000.00
154,251.14
01-May-2005
9.800%
NY - 58.49%
360
01-Mar-2005
621006584 1
196,000.00
194,505.39
01-Jun-2005
6.950%
FL - 80.00%
360
01-Apr-2005
621006634 1
120,000.00
119,603.88
01-Dec-2005
11.590%
FL - 75.00%
360
01-Apr-2005
631006268 1
305,000.00
302,264.07
01-Jul-2005
6.100%
CA - 74.39%
360
01-Apr-2005
631006338 1
313,500.00
311,551.64
01-Jul-2005
7.990%
CA - 95.00%
360
01-Apr-2005
641006746 1
135,920.00
135,142.02
01-Jul-2005
8.400%
TX - 80.00%
360
01-Apr-2005
641007114 1
76,800.00
76,470.24
01-May-2005
9.800%
OK - 80.00%
360
01-Apr-2005
651008413 1
188,320.00
187,295.34
01-Jun-2005
8.650%
AR - 80.00%
360
01-Apr-2005
661004945 1
374,000.00
374,000.00
01-May-2005
8.400%
CA - 85.00%
360
01-Apr-2005
661005042 1
296,000.00
293,932.56
01-Jun-2005
7.400%
CA - 80.00%
360
01-Apr-2005
681003667 1
191,750.00
190,264.47
01-Jun-2005
6.950%
MA - 65.00%
360
01-Apr-2005
711006326 1
58,500.00
58,355.08
01-May-2005
11.800%
NY - 90.00%
360
01-May-2005
Page 12 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
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
741009436 1
82,800.00
82,450.38
01-Jul-2005
10.400%
OH - 80.00%
360
01-Mar-2005
741009900 1
165,000.00
164,064.62
01-Jul-2005
8.450%
OH - 75.00%
360
01-Apr-2005
741010087 1
81,600.00
81,155.08
01-May-2005
8.640%
OH - 80.00%
360
01-Apr-2005
781002175 1
530,000.00
527,159.82
01-Sep-2005
8.725%
NY - 94.64%
360
01-Apr-2005
781002477 1
96,050.00
95,417.64
01-Jul-2005
7.700%
MI - 85.00%
360
01-Apr-2005
831036019 1
152,750.00
151,560.81
01-Jul-2005
7.900%
FL - 65.00%
360
01-Feb-2005
841002415 1
63,000.00
62,661.78
01-May-2005
9.250%
MI - 90.00%
360
01-Mar-2005
841002416 1
63,000.00
62,661.78
01-May-2005
9.250%
MI - 84.00%
360
01-Mar-2005
841002868 1
70,200.00
69,830.92
01-May-2005
9.350%
MI - 90.00%
360
01-Mar-2005
841003635 1
67,920.00
67,482.93
01-May-2005
8.300%
MI - 80.00%
360
01-Apr-2005
841003905 1
194,650.00
193,440.25
01-May-2005
7.990%
MI - 85.00%
360
01-Apr-2005
871000362 1
110,000.00
109,454.06
01-Jun-2005
9.100%
NJ - 72.37%
360
01-Apr-2005
TOTAL
10,460,325.00
10,404,039.88
Page 13 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
Prepayment Report
VOLUNTARY PREPAYMENTS
Group 2
Group 1
Total
Current
Number of Paid in Full Loans
228
228
Number of Repurchased Loans
0
0
Total Number of Loans Prepaid in Full
228
228
Curtailments Amount
42,578.83
42,578.83
Paid in Full Balance
47,177,412.60
47,177,412.60
Repurchased Loans Balance
0.00
0.00
Total Prepayment Amount
47,219,991.43
47,219,991.43
Cumulative
Number of Paid in Full Loans
1,237
1,237
Number of Repurchased Loans
24
24
Total Number of Loans Prepaid in Full
1,261
1,261
Paid in Full Balance
269,470,599.11
269,470,599.11
Repurchased Loans Balance
5,575,294.88
5,575,294.88
Curtailments Amount
537,473.76
537,473.76
Total Prepayment Amount
275,583,367.75
275,583,367.75
Page 14 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
VOLUNTARY PREPAYMENTS RATES
Group 2
Group 1
Total
SMM
3.77%
3.77%
3 Months Avg SMM
3.44%
3.44%
12 Months Avg SMM
2.89%
2.89%
Avg SMM Since Cut-off
2.89%
2.89%
CPR
36.91%
36.91%
3 Months Avg CPR
34.31%
34.31%
12 Months Avg CPR
29.70%
29.70%
Avg CPR Since Cut-off
29.70%
29.70%
PSA
2,013.70%
2,013.70%
3 Months Avg PSA Approximation
2,101.16%
2,101.16%
12 Months Avg PSA Approximation
2,408.18%
2,408.18%
Avg PSA Since Cut-off Approximation
2,408.18%
2,408.18%
Page 15 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
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 16 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
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
11073116 1
176,000.00
174,771.55
01-Dec-2005
7.700%
OR - 62.86%
Paid Off - 360
01-Mar-2005
11073654 1
158,200.00
157,414.02
15-Dec-2005
8.500%
CA - 70.00%
Paid Off - 360
01-Apr-2005
11073716 1
164,000.00
164,000.00
18-Nov-2005
5.800%
CA - 80.00%
Paid Off - 360
01-Apr-2005
11073799 1
204,000.00
202,965.73
21-Nov-2005
8.400%
FL - 76.98%
Paid Off - 360
01-Apr-2005
11073837 1
290,000.00
288,222.67
02-Dec-2005
7.450%
CA - 59.18%
Paid Off - 360
01-Apr-2005
21061765 1
288,000.00
288,000.00
15-Dec-2005
5.450%
CA - 80.00%
Paid Off - 360
01-Apr-2005
21062296 1
250,000.00
247,733.22
01-Dec-2005
5.400%
CA - 55.56%
Paid Off - 360
01-Apr-2005
21062369 1
368,000.00
368,000.00
15-Dec-2005
6.250%
NV - 80.00%
Paid Off - 360
01-Apr-2005
21062863 1
97,000.00
95,843.71
21-Nov-2005
9.250%
NV - 25.86%
Paid Off - 240
01-Apr-2005
21062875 1
429,000.00
425,147.22
21-Nov-2005
5.450%
CA - 75.00%
Paid Off - 360
01-Apr-2005
21063008 1
193,000.00
191,716.42
14-Dec-2005
6.325%
CA - 72.01%
Paid Off - 360
01-May-2005
21063090 1
111,000.00
110,546.79
02-Dec-2005
8.790%
CA - 75.00%
Paid Off - 360
01-May-2005
31031073 1
335,000.00
333,006.77
02-Dec-2005
7.600%
CA - 72.83%
Paid Off - 360
01-Apr-2005
31031717 1
280,000.00
277,936.22
05-Dec-2005
6.500%
CA - 80.00%
Paid Off - 360
01-Apr-2005
31032318 1
475,000.00
474,461.34
05-Dec-2005
7.350%
CA - 95.00%
Paid Off - 360
01-Apr-2005
31032417 1
288,000.00
285,802.04
23-Nov-2005
6.590%
AZ - 80.00%
Paid Off - 360
01-Apr-2005
31032425 1
330,000.00
328,002.37
17-Nov-2005
7.900%
CA - 86.84%
Paid Off - 360
01-Apr-2005
31032456 1
344,000.00
341,583.38
23-Nov-2005
6.750%
CA - 80.00%
Paid Off - 360
01-Apr-2005
31032492 1
413,820.00
413,819.64
29-Nov-2005
8.050%
CA - 90.00%
Paid Off - 360
01-Apr-2005
31032516 1
271,600.00
269,598.09
13-Dec-2005
6.500%
CA - 57.18%
Paid Off - 360
01-Apr-2005
31032730 1
800,000.00
796,176.00
30-Nov-2005
8.690%
CA - 72.73%
Paid Off - 360
01-Apr-2005
41064562 1
63,000.00
62,720.27
28-Nov-2005
9.050%
MO - 70.00%
Paid Off - 360
01-Apr-2005
41064616 1
242,250.00
240,304.41
21-Nov-2005
7.450%
IL - 85.00%
Paid Off - 360
01-Apr-2005
41064667 1
84,500.00
83,915.75
14-Dec-2005
6.850%
IL - 65.00%
Paid Off - 360
01-Apr-2005
51055575 1
84,000.00
83,587.34
23-Nov-2005
9.150%
GA - 80.00%
Paid Off - 360
01-Mar-2005
51055844 1
263,585.00
263,585.00
07-Dec-2005
9.150%
GA - 92.32%
Paid Off - 360
01-Apr-2005
51055954 1
60,000.00
59,746.97
16-Nov-2005
9.300%
GA - 72.29%
Paid Off - 360
01-Apr-2005
51056100 1
111,920.00
111,372.37
18-Nov-2005
8.575%
GA - 80.00%
Paid Off - 360
01-Apr-2005
51056221 1
110,000.00
109,475.24
08-Dec-2005
8.700%
GA - 31.88%
Paid Off - 360
01-Apr-2005
71064401 1
106,400.00
105,619.60
22-Nov-2005
7.150%
FL - 80.00%
Paid Off - 360
01-Mar-2005
71064587 1
255,992.00
255,991.95
06-Dec-2005
7.500%
FL - 80.00%
Paid Off - 360
01-Mar-2005
71064720 1
112,000.00
111,480.57
30-Nov-2005
8.950%
FL - 80.00%
Paid Off - 360
01-Apr-2005
71064781 1
94,000.00
94,000.00
29-Nov-2005
7.800%
FL - 80.00%
Paid Off - 360
01-Apr-2005
71064877 1
79,800.00
79,416.83
02-Dec-2005
7.990%
FL - 95.00%
Paid Off - 360
01-May-2005
71064900 1
215,200.00
215,200.00
23-Nov-2005
7.600%
FL - 80.00%
Paid Off - 360
01-Apr-2005
71065097 1
130,000.00
129,378.86
08-Dec-2005
9.250%
FL - 76.25%
Paid Off - 360
01-Apr-2005
81053369 1
161,500.00
160,641.35
23-Nov-2005
8.850%
MD - 85.00%
Paid Off - 360
01-Mar-2005
81053622 1
243,000.00
241,839.92
22-Nov-2005
8.700%
NC - 88.69%
Paid Off - 360
01-Apr-2005
81053888 1
269,600.00
267,649.72
02-Dec-2005
6.600%
MD - 80.00%
Paid Off - 360
01-Apr-2005
81054169 1
130,000.00
129,313.76
22-Nov-2005
8.200%
MD - 66.67%
Paid Off - 360
01-Apr-2005
81054177 1
150,450.00
149,702.52
30-Nov-2005
8.500%
MD - 87.98%
Paid Off - 360
01-Apr-2005
Page 17 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
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
91031123 1
150,000.00
149,333.31
25-Nov-2005
10.000%
IL - 62.50%
Paid Off - 360
01-May-2005
101045857 1
89,600.00
89,078.03
21-Nov-2005
8.700%
TX - 80.00%
Paid Off - 360
01-Apr-2005
101045942 1
94,430.00
93,941.49
05-Dec-2005
8.300%
TX - 70.00%
Paid Off - 360
01-Apr-2005
121037448 1
60,000.00
59,771.96
30-Nov-2005
9.800%
IA - 80.00%
Paid Off - 360
01-Apr-2005
121037732 1
115,712.00
114,935.12
25-Nov-2005
6.990%
WI - 80.00%
Paid Off - 360
01-Apr-2005
121037893 1
88,800.00
88,340.58
07-Dec-2005
8.300%
WI - 80.00%
Paid Off - 360
01-Apr-2005
121038052 1
150,000.00
149,116.32
01-Dec-2005
7.650%
IL - 75.00%
Paid Off - 360
01-Apr-2005
121038066 1
187,500.00
186,239.66
30-Nov-2005
7.250%
MN - 75.00%
Paid Off - 360
01-Apr-2005
131030503 1
100,000.00
99,573.86
12-Dec-2005
9.250%
KY - 58.82%
Paid Off - 360
01-Apr-2005
131030545 1
90,100.00
89,621.68
16-Nov-2005
8.350%
OH - 85.00%
Paid Off - 360
01-Apr-2005
131030824 1
90,250.00
89,815.09
14-Dec-2005
8.650%
OH - 95.00%
Paid Off - 360
01-Apr-2005
131030998 1
68,250.00
68,059.36
13-Dec-2005
11.300%
IN - 65.00%
Paid Off - 360
01-Apr-2005
131031226 1
285,000.00
283,088.77
08-Dec-2005
6.990%
OH - 95.00%
Paid Off - 360
01-Apr-2005
141044913 1
180,000.00
178,541.14
15-Dec-2005
6.000%
CT - 80.00%
Paid Off - 360
01-Apr-2005
141045165 1
451,200.00
448,670.70
23-Nov-2005
7.900%
NY - 80.00%
Paid Off - 360
01-Apr-2005
141045235 1
171,950.00
171,920.12
14-Dec-2005
6.950%
MA - 95.00%
Paid Off - 360
01-Apr-2005
141045291 1
244,700.00
242,852.78
22-Nov-2005
6.375%
NY - 79.97%
Paid Off - 360
01-Apr-2005
141045402 1
120,800.00
120,066.92
14-Dec-2005
7.500%
CT - 80.00%
Paid Off - 360
01-Apr-2005
141045575 1
191,920.00
190,610.27
17-Nov-2005
6.900%
CT - 80.00%
Paid Off - 360
01-Apr-2005
141045581 1
143,920.00
142,954.85
22-Nov-2005
6.990%
MA - 80.00%
Paid Off - 360
01-Apr-2005
161039264 1
300,000.00
297,945.42
13-Dec-2005
7.500%
MA - 54.35%
Paid Off - 360
01-Mar-2005
161039444 1
239,000.00
237,280.90
17-Nov-2005
7.250%
MA - 71.77%
Paid Off - 360
01-Mar-2005
161039673 1
260,000.00
258,128.47
22-Nov-2005
6.950%
MA - 56.52%
Paid Off - 360
01-Apr-2005
161039678 1
281,000.00
279,299.35
12-Dec-2005
7.575%
MA - 64.30%
Paid Off - 360
01-Apr-2005
161039750 1
300,000.00
298,626.26
22-Nov-2005
8.900%
MA - 55.56%
Paid Off - 360
01-Apr-2005
161039815 1
187,000.00
187,000.00
07-Dec-2005
7.300%
MA - 85.00%
Paid Off - 360
01-Apr-2005
161039857 1
220,000.00
217,968.78
07-Dec-2005
5.300%
MA - 74.58%
Paid Off - 360
01-Apr-2005
161039865 1
184,000.00
182,780.42
13-Dec-2005
7.050%
RI - 80.00%
Paid Off - 360
01-Apr-2005
161039870 1
416,000.00
416,000.00
05-Dec-2005
6.750%
MA - 65.00%
Paid Off - 360
01-Apr-2005
161039917 1
179,400.00
177,929.52
07-Dec-2005
5.940%
MA - 56.77%
Paid Off - 360
01-Apr-2005
161039962 1
560,000.00
557,122.48
23-Nov-2005
7.650%
MA - 62.22%
Paid Off - 360
01-May-2005
161040018 1
218,400.00
216,632.48
02-Dec-2005
6.040%
MA - 80.00%
Paid Off - 360
01-Apr-2005
161040313 1
333,000.00
330,881.77
25-Nov-2005
6.590%
MA - 74.00%
Paid Off - 360
01-May-2005
171024162 1
188,480.00
188,480.00
01-Dec-2005
6.875%
AZ - 80.00%
Paid Off - 360
01-Mar-2005
171024428 1
85,000.00
84,727.22
21-Nov-2005
10.600%
AZ - 85.00%
Paid Off - 360
01-Apr-2005
171024540 1
132,300.00
131,303.49
14-Dec-2005
7.700%
AZ - 70.00%
Paid Off - 360
01-Apr-2005
171024671 1
150,000.00
150,000.00
14-Dec-2005
6.150%
AZ - 55.15%
Paid Off - 360
01-Apr-2005
171024683 1
91,000.00
90,372.94
16-Nov-2005
6.850%
AZ - 74.59%
Paid Off - 360
01-Apr-2005
191023493 1
73,600.00
73,174.91
12-Dec-2005
7.750%
AZ - 80.00%
Paid Off - 360
01-Apr-2005
211026339 1
80,000.00
79,512.51
16-Nov-2005
7.950%
GA - 80.00%
Paid Off - 360
01-Apr-2005
211026592 1
161,000.00
160,079.34
13-Dec-2005
7.800%
GA - 67.36%
Paid Off - 360
01-Apr-2005
211027181 1
76,000.00
75,533.31
08-Dec-2005
7.640%
MD - 80.00%
Paid Off - 360
01-Apr-2005
211027223 1
144,000.00
143,465.20
22-Nov-2005
9.250%
GA - 90.00%
Paid Off - 360
01-May-2005
Page 18 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
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
211027273 1
240,000.00
238,998.28
15-Dec-2005
9.350%
MD - 58.25%
Paid Off - 360
01-Apr-2005
211027302 1
266,000.00
264,781.95
22-Nov-2005
8.900%
MD - 70.00%
Paid Off - 360
01-Apr-2005
211027347 1
124,900.00
124,031.05
06-Dec-2005
6.800%
NC - 76.67%
Paid Off - 360
01-Apr-2005
211027461 1
193,500.00
192,434.50
15-Dec-2005
8.500%
MD - 75.00%
Paid Off - 360
01-May-2005
211027496 1
244,150.00
244,150.00
01-Dec-2005
6.600%
MD - 95.00%
Paid Off - 360
01-Apr-2005
231060490 1
212,000.00
211,140.55
23-Nov-2005
9.490%
NJ - 80.00%
Paid Off - 360
01-Apr-2005
231060655 1
167,200.00
165,755.86
14-Dec-2005
6.300%
RI - 80.00%
Paid Off - 360
01-Mar-2005
231060864 1
212,000.00
210,578.33
06-Dec-2005
6.990%
MA - 91.38%
Paid Off - 360
01-Apr-2005
231061327 1
168,750.00
167,754.51
13-Dec-2005
8.250%
MA - 75.00%
Paid Off - 360
01-Mar-2005
231061980 1
522,500.00
519,600.16
17-Nov-2005
7.950%
MA - 95.00%
Paid Off - 360
01-Apr-2005
231062155 1
170,100.00
169,227.11
21-Nov-2005
8.340%
NJ - 90.00%
Paid Off - 360
01-Apr-2005
231062179 1
72,000.00
71,717.67
29-Nov-2005
9.650%
PA - 90.00%
Paid Off - 360
01-Apr-2005
231062207 1
308,000.00
306,055.83
29-Nov-2005
7.300%
NY - 80.00%
Paid Off - 360
01-Apr-2005
231063605 1
495,000.00
494,702.73
23-Nov-2005
7.990%
MA - 90.00%
Paid Off - 360
01-Apr-2005
261050717 1
52,000.00
51,838.12
14-Dec-2005
10.750%
AL - 80.00%
Paid Off - 360
01-Apr-2005
261051010 1
101,600.00
100,813.67
14-Dec-2005
6.250%
FL - 80.00%
Paid Off - 360
01-Apr-2005
261051066 1
168,000.00
167,143.61
07-Dec-2005
7.690%
FL - 70.00%
Paid Off - 360
01-May-2005
271020328 1
595,000.00
595,000.00
13-Dec-2005
5.400%
MD - 76.28%
Paid Off - 360
01-Apr-2005
281014153 1
87,700.00
87,496.18
22-Nov-2005
12.090%
NY - 89.49%
Paid Off - 360
01-Apr-2005
301000473 1
60,000.00
59,597.62
01-Dec-2005
6.990%
OR - 43.48%
Paid Off - 360
01-Apr-2005
301000853 1
75,000.00
74,563.00
30-Nov-2005
8.350%
ID - 74.26%
Paid Off - 360
01-Apr-2005
311026546 1
182,400.00
182,400.00
01-Dec-2005
5.990%
NJ - 80.00%
Paid Off - 360
01-Apr-2005
311026604 1
188,000.00
186,432.77
25-Nov-2005
6.990%
NJ - 100.00%
Paid Off - 360
01-Apr-2005
311026644 1
220,000.00
218,928.91
02-Dec-2005
8.600%
NJ - 78.57%
Paid Off - 360
01-Apr-2005
311026695 1
133,000.00
132,205.48
16-Nov-2005
7.900%
NJ - 73.08%
Paid Off - 360
01-Apr-2005
321024106 1
56,350.00
56,068.53
08-Dec-2005
8.550%
UT - 70.00%
Paid Off - 360
01-Apr-2005
321024342 1
152,800.00
151,513.94
02-Dec-2005
5.800%
WY - 80.00%
Paid Off - 360
01-Apr-2005
331032474 1
280,000.00
278,759.73
07-Dec-2005
9.650%
NY - 80.00%
Paid Off - 360
01-Mar-2005
331033370 1
267,000.00
265,220.00
07-Dec-2005
7.750%
NY - 75.00%
Paid Off - 360
01-Mar-2005
331033473 1
210,000.00
207,808.60
30-Nov-2005
7.550%
NY - 59.32%
Paid Off - 360
01-Mar-2005
331033953 1
513,000.00
513,000.00
12-Dec-2005
6.450%
NY - 95.00%
Paid Off - 360
01-May-2005
331033955 1
300,015.00
298,026.47
09-Dec-2005
7.050%
NJ - 77.93%
Paid Off - 360
01-Apr-2005
331034281 1
FCL
248,000.00
247,047.64
01-Dec-2005
9.750%
NJ - 80.00%
Paid Off - 360
01-Apr-2005
331034310 1
325,000.00
322,360.96
#######
5.990%
NY - 72.22%
Paid Off - 360
01-Apr-2005
331034565 1
336,000.00
333,837.15
13-Dec-2005
7.200%
NY - 80.00%
Paid Off - 360
01-Apr-2005
331034567 1
240,000.00
240,000.00
25-Nov-2005
8.500%
NY - 80.00%
Paid Off - 360
01-May-2005
341022739 1
433,500.00
433,494.47
13-Dec-2005
6.990%
VA - 85.00%
Paid Off - 360
01-Apr-2005
341023257 1
82,400.00
81,941.42
05-Dec-2005
7.250%
NC - 80.00%
Paid Off - 360
01-May-2005
351023880 1
72,000.00
71,521.28
30-Nov-2005
7.650%
TX - 80.00%
Paid Off - 360
01-Mar-2005
351023987 1
85,000.00
84,602.73
16-Nov-2005
8.800%
TX - 68.55%
Paid Off - 360
01-Apr-2005
361023047 1
121,500.00
120,625.75
23-Nov-2005
7.250%
MI - 75.00%
Paid Off - 360
01-Mar-2005
361023695 1
136,000.00
135,310.48
07-Dec-2005
8.400%
MI - 85.00%
Paid Off - 360
01-Apr-2005
371023259 1
196,550.00
195,552.24
16-Nov-2005
8.990%
FL - 95.00%
Paid Off - 360
01-Mar-2005
Page 19 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
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
371023938 1
94,400.00
93,770.46
05-Dec-2005
7.350%
FL - 80.00%
Paid Off - 360
01-Apr-2005
371023995 1
192,000.00
190,885.85
08-Dec-2005
7.800%
FL - 80.00%
Paid Off - 360
01-Apr-2005
371024244 1
93,299.00
92,791.45
30-Nov-2005
8.050%
FL - 80.00%
Paid Off - 360
01-Apr-2005
371024251 1
206,910.00
206,910.00
22-Nov-2005
9.200%
FL - 90.00%
Paid Off - 360
01-Apr-2005
371024339 1
146,688.00
145,696.63
21-Nov-2005
6.950%
FL - 80.00%
Paid Off - 360
01-Apr-2005
371024387 1
84,000.00
83,543.07
30-Nov-2005
8.050%
FL - 80.00%
Paid Off - 360
01-Apr-2005
381019091 1
180,000.00
178,767.18
16-Nov-2005
7.500%
RI - 63.16%
Paid Off - 360
01-Mar-2005
381019271 1
330,000.00
327,769.76
06-Dec-2005
6.950%
RI - 79.52%
Paid Off - 360
01-Apr-2005
381019314 1
175,000.00
175,000.00
23-Nov-2005
6.800%
RI - 70.00%
Paid Off - 360
01-Mar-2005
381019342 1
214,400.00
214,400.00
18-Nov-2005
6.300%
RI - 80.00%
Paid Off - 360
01-Mar-2005
381019689 1
162,400.00
160,614.39
17-Nov-2005
6.600%
NH - 80.00%
Paid Off - 360
01-Apr-2005
381019692 1
265,000.00
263,656.46
28-Nov-2005
8.400%
MA - 69.74%
Paid Off - 360
01-Apr-2005
381019856 1
476,000.00
471,956.86
05-Dec-2005
5.750%
MA - 80.00%
Paid Off - 360
01-Apr-2005
381019858 1
252,000.00
250,361.90
25-Nov-2005
7.150%
MA - 80.00%
Paid Off - 360
01-Apr-2005
381020031 1
121,500.00
120,769.55
13-Dec-2005
6.850%
MA - 90.00%
Paid Off - 360
01-May-2005
401000172 1
176,400.00
176,400.00
05-Dec-2005
7.400%
NV - 90.00%
Paid Off - 360
01-Apr-2005
401000320 1
228,000.00
227,067.90
23-Nov-2005
9.450%
FL - 95.00%
Paid Off - 360
01-Apr-2005
401000322 1
304,000.00
303,945.66
22-Nov-2005
7.150%
MA - 80.00%
Paid Off - 360
01-Apr-2005
401000323 1
251,250.00
249,362.39
18-Nov-2005
6.400%
CA - 75.00%
Paid Off - 360
01-Apr-2005
511033779 1
221,192.00
219,129.80
29-Nov-2005
5.900%
CA - 80.00%
Paid Off - 360
01-Mar-2005
511033912 1
114,000.00
113,421.89
30-Nov-2005
9.850%
VA - 80.00%
Paid Off - 360
01-Apr-2005
511033967 1
106,760.00
106,028.69
12-Dec-2005
7.500%
CA - 85.00%
Paid Off - 360
01-Mar-2005
521022940 1
227,500.00
226,064.01
15-Dec-2005
7.300%
MO - 70.00%
Paid Off - 360
01-Apr-2005
521023363 1
81,000.00
80,672.31
29-Nov-2005
9.500%
KS - 90.00%
Paid Off - 360
01-Apr-2005
521023506 1
85,500.00
85,120.34
13-Dec-2005
9.050%
MO - 90.00%
Paid Off - 360
01-Apr-2005
561001640 1
200,000.00
198,266.64
13-Dec-2005
6.120%
FL - 28.78%
Paid Off - 360
01-Apr-2005
581000106 1
100,000.00
99,399.10
18-Nov-2005
7.550%
CA - 80.00%
Paid Off - 360
01-Apr-2005
581000192 1
400,000.00
400,000.00
30-Nov-2005
5.250%
CA - 73.66%
Paid Off - 360
01-Apr-2005
581000200 1
144,000.00
143,355.34
21-Nov-2005
9.010%
WA - 90.00%
Paid Off - 360
01-Apr-2005
591000070 1
73,600.00
73,337.38
01-Dec-2005
10.100%
MI - 80.00%
Paid Off - 360
01-Apr-2005
611013315 1
323,000.00
321,020.43
15-Dec-2005
7.450%
NY - 95.00%
Paid Off - 360
01-Apr-2005
611014282 1
324,000.00
321,456.73
22-Nov-2005
6.800%
NY - 90.00%
Paid Off - 360
01-Mar-2005
611014673 1
221,000.00
220,163.80
25-Nov-2005
10.400%
NY - 65.00%
Paid Off - 360
01-Mar-2005
611014778 1
255,000.00
253,120.50
01-Dec-2005
6.500%
NY - 63.75%
Paid Off - 360
01-Apr-2005
611014962 1
240,000.00
238,390.60
07-Dec-2005
6.990%
NY - 71.64%
Paid Off - 360
01-Apr-2005
611014979 1
220,000.00
218,826.94
17-Nov-2005
8.150%
NY - 80.00%
Paid Off - 360
01-Apr-2005
611015072 1
372,000.00
372,000.00
02-Dec-2005
6.350%
NY - 80.00%
Paid Off - 360
01-Apr-2005
611015339 1
398,000.00
395,049.08
30-Nov-2005
5.750%
NY - 92.56%
Paid Off - 360
01-May-2005
621006628 1
75,000.00
74,694.27
08-Dec-2005
9.750%
FL - 21.73%
Paid Off - 360
01-Apr-2005
621006657 1
64,000.00
63,648.33
29-Nov-2005
8.000%
FL - 80.00%
Paid Off - 360
01-Apr-2005
621006665 1
269,910.00
269,910.00
28-Nov-2005
5.900%
FL - 90.00%
Paid Off - 360
01-Apr-2005
621006711 1
85,100.00
84,843.91
12-Dec-2005
10.900%
FL - 23.97%
Paid Off - 360
01-Apr-2005
631006221 1
324,000.00
321,471.43
12-Dec-2005
6.200%
CA - 80.00%
Paid Off - 360
01-Apr-2005
Page 20 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
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
631006331 1
213,300.00
213,300.00
01-Dec-2005
6.850%
CA - 90.00%
Paid Off - 360
01-Apr-2005
631006337 1
211,000.00
210,934.59
01-Dec-2005
6.000%
CA - 78.15%
Paid Off - 360
01-May-2005
651008287 1
160,000.00
159,094.07
13-Dec-2005
7.850%
MN - 78.82%
Paid Off - 360
01-Apr-2005
651008437 1
151,725.00
151,051.26
02-Dec-2005
9.050%
PA - 85.00%
Paid Off - 360
01-Apr-2005
651008439 1
225,000.00
225,000.00
01-Dec-2005
7.200%
VA - 90.00%
Paid Off - 360
01-Apr-2005
661004486 1
340,000.00
337,679.79
05-Dec-2005
6.900%
OR - 59.13%
Paid Off - 360
01-Apr-2005
661004696 1
282,000.00
279,974.74
16-Nov-2005
6.750%
CA - 82.94%
Paid Off - 360
01-Apr-2005
661004881 1
243,000.00
241,389.38
16-Nov-2005
7.050%
CA - 88.36%
Paid Off - 360
01-Apr-2005
661004988 1
209,000.00
207,438.72
09-Dec-2005
6.430%
CA - 72.57%
Paid Off - 360
01-Apr-2005
661004992 1
335,000.00
335,000.00
02-Dec-2005
6.090%
CA - 77.01%
Paid Off - 360
01-Apr-2005
661005262 1
192,000.00
190,501.58
09-Dec-2005
6.200%
CA - 80.00%
Paid Off - 360
01-Apr-2005
661005352 1
288,000.00
286,109.59
18-Nov-2005
7.100%
CA - 74.81%
Paid Off - 360
01-Apr-2005
671002489 1
361,000.00
361,000.00
09-Dec-2005
7.250%
CA - 95.00%
Paid Off - 360
01-Apr-2005
671002672 1
334,000.00
334,000.00
21-Nov-2005
6.650%
AZ - 77.67%
Paid Off - 360
01-Apr-2005
671002681 1
100,000.00
99,471.79
12-Dec-2005
10.900%
CA - 17.86%
Paid Off - 360
01-Apr-2005
671002710 1
226,550.00
224,947.81
08-Dec-2005
7.000%
CA - 79.99%
Paid Off - 360
01-Apr-2005
671002820 1
272,000.00
271,996.26
23-Nov-2005
6.700%
CA - 80.00%
Paid Off - 360
01-Apr-2005
671002828 1
185,250.00
183,881.94
22-Nov-2005
6.490%
CA - 95.00%
Paid Off - 360
01-Apr-2005
681003964 1
134,010.00
133,281.01
09-Dec-2005
8.050%
VT - 90.00%
Paid Off - 360
01-Apr-2005
681004034 1
150,750.00
149,913.33
25-Nov-2005
7.950%
MA - 90.00%
Paid Off - 360
01-Apr-2005
681004300 1
234,000.00
232,142.85
25-Nov-2005
6.650%
ME - 90.00%
Paid Off - 360
01-Apr-2005
681004335 1
109,900.00
109,282.68
01-Dec-2005
7.890%
ME - 64.65%
Paid Off - 360
01-Apr-2005
681004568 1
292,000.00
290,979.89
25-Nov-2005
10.200%
MA - 80.00%
Paid Off - 360
01-Apr-2005
681004775 1
107,000.00
106,297.13
15-Dec-2005
7.250%
ME - 46.22%
Paid Off - 360
01-Apr-2005
681004899 1
141,000.00
139,950.79
30-Nov-2005
6.450%
NH - 89.24%
Paid Off - 360
01-Apr-2005
691002039 1
136,000.00
135,156.48
30-Nov-2005
8.000%
VA - 85.00%
Paid Off - 360
01-Mar-2005
691002568 1
168,300.00
167,373.40
30-Nov-2005
7.990%
MD - 90.00%
Paid Off - 360
01-Apr-2005
691002651 1
153,600.00
152,298.87
17-Nov-2005
7.250%
MD - 80.00%
Paid Off - 360
01-Apr-2005
701000041 1
169,000.00
167,812.79
06-Dec-2005
6.750%
CA - 65.00%
Paid Off - 360
01-Apr-2005
711005503 1
165,000.00
164,154.97
29-Nov-2005
8.350%
MA - 58.10%
Paid Off - 360
01-Apr-2005
711006123 1
78,000.00
77,570.58
09-Dec-2005
7.990%
MA - 48.75%
Paid Off - 360
01-Apr-2005
721005948 1
221,000.00
219,809.77
01-Dec-2005
8.100%
NV - 85.00%
Paid Off - 360
01-Apr-2005
731009300 1
195,500.00
194,359.59
01-Dec-2005
7.700%
VA - 85.00%
Paid Off - 360
01-Apr-2005
731009545 1
101,500.00
100,766.08
29-Nov-2005
6.600%
GA - 68.12%
Paid Off - 360
01-Apr-2005
761007038 1
182,000.00
181,293.75
30-Nov-2005
9.700%
MN - 71.37%
Paid Off - 360
01-Apr-2005
761007867 1
103,075.00
102,485.55
15-Dec-2005
7.800%
IN - 95.00%
Paid Off - 360
01-Apr-2005
761007930 1
206,400.00
205,212.42
15-Dec-2005
8.500%
IL - 80.00%
Paid Off - 360
01-Apr-2005
761008399 1
111,000.00
108,215.94
29-Nov-2005
6.750%
IL - 63.43%
Paid Off - 360
01-Apr-2005
781001834 1
176,800.00
176,267.89
05-Dec-2005
10.900%
PA - 80.00%
Paid Off - 360
01-Apr-2005
781002487 1
262,500.00
260,890.99
22-Nov-2005
6.750%
NJ - 62.50%
Paid Off - 360
01-May-2005
791001438 1
464,000.00
464,000.00
15-Dec-2005
9.600%
CO - 80.00%
Paid Off - 360
01-Apr-2005
831033851 1
297,000.00
297,000.00
06-Dec-2005
7.100%
FL - 90.00%
Paid Off - 360
01-Feb-2005
831034455 1
185,000.00
183,473.02
30-Nov-2005
7.100%
CA - 72.55%
Paid Off - 360
01-Feb-2005
Page 21 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
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
831035986 1
569,500.00
566,113.81
05-Dec-2005
8.750%
CA - 85.00%
Paid Off - 360
01-Feb-2005
831036059 1
204,000.00
203,110.85
09-Dec-2005
10.250%
FL - 80.00%
Paid Off - 360
01-Feb-2005
831036088 1
312,000.00
309,547.26
25-Nov-2005
7.350%
CA - 80.00%
Paid Off - 360
01-Feb-2005
831036090 1
232,000.00
230,588.43
14-Dec-2005
9.000%
CA - 80.00%
Paid Off - 360
01-Feb-2005
831036097 1
242,250.00
240,436.70
08-Dec-2005
7.600%
CA - 79.43%
Paid Off - 360
01-Feb-2005
831036108 1
230,400.00
230,400.00
30-Nov-2005
6.950%
CA - 80.00%
Paid Off - 360
01-Feb-2005
831036330 1
268,000.00
267,007.26
06-Dec-2005
10.500%
NJ - 80.00%
Paid Off - 360
01-Mar-2005
831036811 1
112,000.00
111,334.12
13-Dec-2005
8.750%
FL - 80.00%
Paid Off - 360
01-Feb-2005
841002737 1
71,000.00
70,668.20
17-Nov-2005
8.800%
MI - 83.53%
Paid Off - 360
01-Apr-2005
841003776 1
112,500.00
111,935.41
29-Nov-2005
8.450%
MI - 90.00%
Paid Off - 360
01-Apr-2005
841003779 1
116,000.00
115,330.02
09-Dec-2005
7.750%
MI - 80.00%
Paid Off - 360
01-Apr-2005
841004000 1
118,400.00
117,704.98
18-Nov-2005
7.700%
MI - 80.00%
Paid Off - 360
01-Apr-2005
851000535 1
115,000.00
114,567.56
12-Dec-2005
9.850%
NJ - 75.66%
Paid Off - 360
01-Apr-2005
871000038 1
335,750.00
335,691.45
30-Nov-2005
6.750%
NJ - 85.00%
Paid Off - 360
01-Apr-2005
871000319 1
135,000.00
132,648.56
30-Nov-2005
6.100%
NJ - 62.79%
Paid Off - 240
01-Apr-2005
TOTAL
47,404,813.00
47,177,412.60
Page 22 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
Realized Loss Report
COLLATERAL REALIZED LOSSES
Group 2
Group 1
Total
Current
Number of Loans Liquidated
0
0
Collateral Principal Realized Loss/(Gain) Amount
0.00
0.00
Collateral Interest Realized Loss/(Gain) Amount
0.00
0.00
Net Liquidation Proceeds
0.00
0.00
Cumulative
Number of Loans Liquidated
2
2
Collateral Realized Loss/(Gain) Amount
12,804.79
12,804.79
Net Liquidation Proceeds
291,033.64
291,033.64
Page 23 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
DEFAULT SPEEDS
Group 2
Group 1
Total
MDR
0.00%
0.00%
3 Months Avg MDR
0.00%
0.00%
12 Months Avg MDR
0.00%
0.00%
Avg MDR Since Cut-off
0.00%
0.00%
CDR
0.00%
0.00%
3 Months Avg CDR
0.04%
0.04%
12 Months Avg CDR
0.04%
0.04%
Avg CDR Since Cut-off
0.04%
0.04%
SDA
0.00%
0.00%
3 Months Avg SDA Approximation
0.24%
0.24%
12 Months Avg SDA Approximation
0.31%
0.31%
Avg SDA Since Cut-off Approximation
0.31%
0.31%
Loss Severity Approximation for Current Period
0.00%
0.00%
3 Months Avg Loss Severity Approximation
0.00%
0.00%
12 Months Avg Loss Severity Approximation
1.05%
1.05%
Avg Loss Severity Approximation Since Cut-off
1.05%
1.05%
Page 24 of 28
Carrington Mortgage Loan Trust 2005-OPT2
Mortgage Pass-Through Certificates
2005-OPT2
December 27, 2005 Distribution
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total 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:
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