8-K 1 ace04rm1_sep.txt SEPTEMBER 8-K 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): September 27, 2004 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset-Backed Pass-Through Certificates, Series 2004-RM1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-110039-09 54-2157780 Pooling and Servicing Agreement) (Commission 54-2157781 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (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 under the Exchange Act (17 CFR 240.14a-12) [ ] 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 On September 27, 2004 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset-Backed Pass-Through Certificates, Series 2004-RM1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Pass-Through Certificates, Series 2004-RM1 Trust, relating to the September 27, 2004 distribution. 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. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset-Backed Pass-Through Certificates, Series 2004-RM1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 9/28/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Pass-Through Certificates, Series 2004-RM1 Trust, relating to the September 27, 2004 distribution. EX-99.1
ACE Securities Corporation Home Equity Loan Trust Asset-Backed Pass-Through Certificates Record Date: 8/31/2004 Distribution Date: 9/27/2004 ACE Series: 2004-RM1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1A 004421FP3 SEN 1.96500% 128,259,092.16 231,026.69 4,542,933.25 A-1B 004421FQ1 SEN 1.89500% 128,259,092.16 222,796.73 4,542,933.25 A-2 004421FR9 SEN 1.99500% 69,124,532.57 126,411.49 5,292,804.17 M-1 004421FS7 MEZ 2.31500% 23,657,000.00 50,202.13 0.00 M-2 004421FT5 MEZ 2.81500% 18,513,000.00 47,771.25 0.00 M-3 004421FU2 MEZ 3.06500% 5,143,000.00 14,449.69 0.00 M-4 004421FV0 MEZ 3.56500% 5,143,000.00 16,806.90 0.00 M-5 004421FW8 MEZ 3.71500% 4,114,000.00 14,009.88 0.00 M-6 004421FX6 MEZ 5.11500% 4,114,000.00 19,289.52 0.00 B-1 004421FY4 SUB 5.11500% 6,171,000.00 28,934.28 0.00 B-2 004421FZ1 SUB 5.11500% 8,228,000.00 38,579.03 0.00 B-3 004421GA5 SUB 5.11500% 2,057,000.00 9,644.76 0.00 CE ACE0401CE JUN 0.00000% 2,057,037.29 1,184,796.45 0.00 P ACE04010P SEN 0.00000% 100.00 255,535.36 0.00 R-1 ACE0401R1 SEN 0.00000% 0.00 0.00 0.00 R-2 ACE0401R2 SEN 0.00000% 0.00 0.00 0.00 Totals 404,839,854.18 2,260,254.16 14,378,670.67
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1A 0.00 123,716,158.92 4,773,959.94 0.00 A-1B 0.00 123,716,158.92 4,765,729.98 0.00 A-2 0.00 63,831,728.40 5,419,215.66 0.00 M-1 0.00 23,657,000.00 50,202.13 0.00 M-2 0.00 18,513,000.00 47,771.25 0.00 M-3 0.00 5,143,000.00 14,449.69 0.00 M-4 0.00 5,143,000.00 16,806.90 0.00 M-5 0.00 4,114,000.00 14,009.88 0.00 M-6 0.00 4,114,000.00 19,289.52 0.00 B-1 0.00 6,171,000.00 28,934.28 0.00 B-2 0.00 8,228,000.00 38,579.03 0.00 B-3 0.00 2,057,000.00 9,644.76 0.00 CE 0.00 2,057,037.29 1,184,796.45 0.00 P 0.00 100.00 255,535.36 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 390,461,183.53 16,638,924.83 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1A 131,108,000.00 128,259,092.16 0.00 4,542,933.25 0.00 0.00 A-1B 131,108,000.00 128,259,092.16 0.00 4,542,933.25 0.00 0.00 A-2 69,994,000.00 69,124,532.57 0.00 5,292,804.17 0.00 0.00 M-1 23,657,000.00 23,657,000.00 0.00 0.00 0.00 0.00 M-2 18,513,000.00 18,513,000.00 0.00 0.00 0.00 0.00 M-3 5,143,000.00 5,143,000.00 0.00 0.00 0.00 0.00 M-4 5,143,000.00 5,143,000.00 0.00 0.00 0.00 0.00 M-5 4,114,000.00 4,114,000.00 0.00 0.00 0.00 0.00 M-6 4,114,000.00 4,114,000.00 0.00 0.00 0.00 0.00 B-1 6,171,000.00 6,171,000.00 0.00 0.00 0.00 0.00 B-2 8,228,000.00 8,228,000.00 0.00 0.00 0.00 0.00 B-3 2,057,000.00 2,057,000.00 0.00 0.00 0.00 0.00 CE 2,057,357.90 2,057,037.29 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 Totals 411,407,457.90 404,839,854.18 0.00 14,378,670.67 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1A 4,542,933.25 123,716,158.92 0.94362021 4,542,933.25 A-1B 4,542,933.25 123,716,158.92 0.94362021 4,542,933.25 A-2 5,292,804.17 63,831,728.40 0.91196000 5,292,804.17 M-1 0.00 23,657,000.00 1.00000000 0.00 M-2 0.00 18,513,000.00 1.00000000 0.00 M-3 0.00 5,143,000.00 1.00000000 0.00 M-4 0.00 5,143,000.00 1.00000000 0.00 M-5 0.00 4,114,000.00 1.00000000 0.00 M-6 0.00 4,114,000.00 1.00000000 0.00 B-1 0.00 6,171,000.00 1.00000000 0.00 B-2 0.00 8,228,000.00 1.00000000 0.00 B-3 0.00 2,057,000.00 1.00000000 0.00 CE 0.00 2,057,037.29 0.99984416 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 Totals 14,378,670.67 390,461,183.53 0.94908630 14,378,670.67
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1A 131,108,000.00 978.27052628 0.00000000 34.65031310 0.00000000 A-1B 131,108,000.00 978.27052628 0.00000000 34.65031310 0.00000000 A-2 69,994,000.00 987.57797197 0.00000000 75.61796968 0.00000000 M-1 23,657,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 18,513,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 5,143,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 5,143,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 4,114,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 4,114,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 6,171,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 8,228,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 2,057,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 2,057,357.90 999.84416421 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination.
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1A 0.00000000 34.65031310 943.62021326 0.94362021 34.65031310 A-1B 0.00000000 34.65031310 943.62021326 0.94362021 34.65031310 A-2 0.00000000 75.61796968 911.96000229 0.91196000 75.61796968 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 999.84416421 0.99984416 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1A 131,108,000.00 1.96500% 128,259,092.16 231,026.69 0.00 0.00 A-1B 131,108,000.00 1.89500% 128,259,092.16 222,796.73 0.00 0.00 A-2 69,994,000.00 1.99500% 69,124,532.57 126,411.49 0.00 0.00 M-1 23,657,000.00 2.31500% 23,657,000.00 50,202.13 0.00 0.00 M-2 18,513,000.00 2.81500% 18,513,000.00 47,771.25 0.00 0.00 M-3 5,143,000.00 3.06500% 5,143,000.00 14,449.69 0.00 0.00 M-4 5,143,000.00 3.56500% 5,143,000.00 16,806.90 0.00 0.00 M-5 4,114,000.00 3.71500% 4,114,000.00 14,009.88 0.00 0.00 M-6 4,114,000.00 5.11500% 4,114,000.00 19,289.52 0.00 0.00 B-1 6,171,000.00 5.11500% 6,171,000.00 28,934.28 0.00 0.00 B-2 8,228,000.00 5.11500% 8,228,000.00 38,579.03 0.00 0.00 B-3 2,057,000.00 5.11500% 2,057,000.00 9,644.76 0.00 0.00 CE 2,057,357.90 0.00000% 2,057,037.29 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 411,407,457.90 819,922.35 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1A 0.00 0.00 231,026.69 0.00 123,716,158.92 A-1B 0.00 0.00 222,796.73 0.00 123,716,158.92 A-2 0.00 0.00 126,411.49 0.00 63,831,728.40 M-1 0.00 0.00 50,202.13 0.00 23,657,000.00 M-2 0.00 0.00 47,771.25 0.00 18,513,000.00 M-3 0.00 0.00 14,449.69 0.00 5,143,000.00 M-4 0.00 0.00 16,806.90 0.00 5,143,000.00 M-5 0.00 0.00 14,009.88 0.00 4,114,000.00 M-6 0.00 0.00 19,289.52 0.00 4,114,000.00 B-1 0.00 0.00 28,934.28 0.00 6,171,000.00 B-2 0.00 0.00 38,579.03 0.00 8,228,000.00 B-3 0.00 0.00 9,644.76 0.00 2,057,000.00 CE 0.00 0.00 1,184,796.45 0.00 2,057,037.29 P 0.00 0.00 255,535.36 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,260,254.16 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1A 131,108,000.00 1.96500% 978.27052628 1.76210979 0.00000000 0.00000000 A-1B 131,108,000.00 1.89500% 978.27052628 1.69933742 0.00000000 0.00000000 A-2 69,994,000.00 1.99500% 987.57797197 1.80603323 0.00000000 0.00000000 M-1 23,657,000.00 2.31500% 1000.00000000 2.12208353 0.00000000 0.00000000 M-2 18,513,000.00 2.81500% 1000.00000000 2.58041646 0.00000000 0.00000000 M-3 5,143,000.00 3.06500% 1000.00000000 2.80958390 0.00000000 0.00000000 M-4 5,143,000.00 3.56500% 1000.00000000 3.26791756 0.00000000 0.00000000 M-5 4,114,000.00 3.71500% 1000.00000000 3.40541565 0.00000000 0.00000000 M-6 4,114,000.00 5.11500% 1000.00000000 4.68875061 0.00000000 0.00000000 B-1 6,171,000.00 5.11500% 1000.00000000 4.68875061 0.00000000 0.00000000 B-2 8,228,000.00 5.11500% 1000.00000000 4.68874939 0.00000000 0.00000000 B-3 2,057,000.00 5.11500% 1000.00000000 4.68875061 0.00000000 0.00000000 CE 2,057,357.90 0.00000% 999.84416421 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1A 0.00000000 0.00000000 1.76210979 0.00000000 943.62021326 A-1B 0.00000000 0.00000000 1.69933742 0.00000000 943.62021326 A-2 0.00000000 0.00000000 1.80603323 0.00000000 911.96000229 M-1 0.00000000 0.00000000 2.12208353 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.58041646 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.80958390 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.26791756 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.40541565 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 4.68875061 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 4.68875061 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 4.68874939 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 4.68875061 0.00000000 1000.00000000 CE 0.00000000 0.00000000 575.88251903 0.00000000 999.84416421 P 0.00000000 0.00000000 2555353.60000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 16,543,365.17 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 25,864.29 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 255,535.36 Total Deposits 16,824,764.82 Withdrawals Reimbursement for Servicer Advances 5,854.94 Payment of Service Fee 179,985.05 Payment of Interest and Principal 16,638,924.83 Total Withdrawals (Pool Distribution Amount) 16,824,764.82 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 168,683.28 Credit Risk Manger Fee: Murray Hill Company 5,060.49 Master Servicing Fee: Wells Fargo Bank 6,241.28 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 179,985.05
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 17 0 0 0 17 3,207,479.50 0.00 0.00 0.00 3,207,479.50 60 Days 2 0 0 0 2 635,636.78 0.00 0.00 0.00 635,636.78 90 Days 2 0 0 0 2 302,342.72 0.00 0.00 0.00 302,342.72 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 21 0 0 0 21 4,145,459.00 0.00 0.00 0.00 4,145,459.00 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.788863% 0.000000% 0.000000% 0.000000% 0.788863% 0.821459% 0.000000% 0.000000% 0.000000% 0.821459% 60 Days 0.092807% 0.000000% 0.000000% 0.000000% 0.092807% 0.162791% 0.000000% 0.000000% 0.000000% 0.162791% 90 Days 0.092807% 0.000000% 0.000000% 0.000000% 0.092807% 0.077432% 0.000000% 0.000000% 0.000000% 0.077432% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.974478% 0.000000% 0.000000% 0.000000% 0.974478% 1.061683% 0.000000% 0.000000% 0.000000% 1.061683%
Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP I SUBGRP I No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 14 0 0 0 14 2,950,677.66 0.00 0.00 0.00 2,950,677.66 60 Days 1 0 0 0 1 143,405.59 0.00 0.00 0.00 143,405.59 90 Days 2 0 0 0 2 302,342.72 0.00 0.00 0.00 302,342.72 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 17 0 0 0 17 3,396,425.97 0.00 0.00 0.00 3,396,425.97 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.126307% 0.000000% 0.000000% 0.000000% 1.126307% 1.176430% 0.000000% 0.000000% 0.000000% 1.176430% 60 Days 0.080451% 0.000000% 0.000000% 0.000000% 0.080451% 0.057176% 0.000000% 0.000000% 0.000000% 0.057176% 90 Days 0.160901% 0.000000% 0.000000% 0.000000% 0.160901% 0.120544% 0.000000% 0.000000% 0.000000% 0.120544% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.367659% 0.000000% 0.000000% 0.000000% 1.367659% 1.354149% 0.000000% 0.000000% 0.000000% 1.354149%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP I SUBGRP II No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 3 0 0 0 3 256,801.84 0.00 0.00 0.00 256,801.84 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 3 0 0 0 3 256,801.84 0.00 0.00 0.00 256,801.84 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.471698% 0.000000% 0.000000% 0.000000% 0.471698% 0.434321% 0.000000% 0.000000% 0.000000% 0.434321% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.471698% 0.000000% 0.000000% 0.000000% 0.471698% 0.434321% 0.000000% 0.000000% 0.000000% 0.434321%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP II SUBGRP I No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 1 0 0 0 1 492,231.19 0.00 0.00 0.00 492,231.19 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1 0 0 0 1 492,231.19 0.00 0.00 0.00 492,231.19 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.625000% 0.000000% 0.000000% 0.000000% 0.625000% 0.758257% 0.000000% 0.000000% 0.000000% 0.758257% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.625000% 0.000000% 0.000000% 0.000000% 0.625000% 0.758257% 0.000000% 0.000000% 0.000000% 0.758257%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP II SUBGRP II No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 25,864.29
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.823549% Weighted Average Net Coupon 6.323549% Weighted Average Pass-Through Rate 5.942257% Weighted Average Maturity(Stepdown Calculation ) 343 Beginning Scheduled Collateral Loan Count 2,220 Number Of Loans Paid In Full 65 Ending Scheduled Collateral Loan Count 2,155 Beginning Scheduled Collateral Balance 404,839,854.18 Ending Scheduled Collateral Balance 390,461,183.52 Ending Actual Collateral Balance at 31-Aug-2004 390,461,183.52 Monthly P &I Constant 2,641,891.57 Special Servicing Fee 0.00 Prepayment Penalties 255,535.36 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 339,854.33 Unscheduled Principal 14,038,816.33 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,057,037.29 Overcollateralized Amount 2,057,037.29 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 0.00
Group Level Collateral Statement Group GRP I SUBGRP I GRP I SUBGRP II GRP II SUBGRP I Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 6.542266 8.026555 6.443458 Weighted Average Net Rate 6.042266 7.526555 5.943458 Weighted Average Maturity 356 290 356 Beginning Loan Count 1,280 649 173 Loans Paid In Full 37 13 13 Ending Loan Count 1,243 636 160 Beginning Scheduled Balance 258,481,731.64 60,547,599.74 70,015,918.79 Ending scheduled Balance 250,816,263.83 59,127,201.06 64,916,154.57 Record Date 08/31/2004 08/31/2004 08/31/2004 Principal And Interest Constant 1,630,179.10 456,899.07 432,092.91 Scheduled Principal 220,965.46 51,908.55 56,139.04 Unscheduled Principal 7,444,502.35 1,368,490.13 5,043,625.18 Scheduled Interest 1,409,213.64 404,990.52 375,953.87 Servicing Fees 107,700.72 25,228.17 29,173.30 Master Servicing Fees 3,984.93 933.44 1,079.41 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 84,670.64 15,544.71 19,480.95 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,212,857.35 363,284.20 326,220.21 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.630684 7.199972 5.591075
Group Level Collateral Statement Group GRP II SUBGRP II Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 8.500058 6.823549 Weighted Average Net Rate 8.000058 6.323549 Weighted Average Maturity 267 343 Beginning Loan Count 118 2,220 Loans Paid In Full 2 65 Ending Loan Count 116 2,155 Beginning Scheduled Balance 15,794,604.01 404,839,854.18 Ending scheduled Balance 15,601,564.06 390,461,183.52 Record Date 08/31/2004 08/31/2004 Principal And Interest Constant 122,720.49 2,641,891.57 Scheduled Principal 10,841.28 339,854.33 Unscheduled Principal 182,198.67 14,038,816.33 Scheduled Interest 111,879.21 2,302,037.24 Servicing Fees 6,581.09 168,683.28 Master Servicing Fees 243.50 6,241.28 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 2,697.60 122,393.90 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 102,357.02 2,004,718.78 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.776607 5.942257