8-K 1 ace04rm1_nov.txt NOVEMBER 8K 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): November 26, 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 November 26, 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 November 26, 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: 11/29/2004 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 November 26, 2004 distribution. EX-99.1
ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 10/31/2004 Distribution Date: 11/26/2004 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 2.28250% 118,432,314.34 240,286.01 6,276,739.51 A-1B 004421FQ1 SEN 2.21250% 118,432,314.34 232,916.88 6,276,739.51 A-2 004421FR9 SEN 2.31250% 61,209,675.17 125,819.89 3,369,956.70 M-1 004421FS7 MEZ 2.63250% 23,657,000.00 55,357.38 0.00 M-2 004421FT5 MEZ 3.13250% 18,513,000.00 51,548.42 0.00 M-3 004421FU2 MEZ 3.38250% 5,143,000.00 15,463.29 0.00 M-4 004421FV0 MEZ 3.88250% 5,143,000.00 17,749.06 0.00 M-5 004421FW8 MEZ 4.03250% 4,114,000.00 14,746.40 0.00 M-6 004421FX6 MEZ 5.43250% 4,114,000.00 19,866.05 0.00 B-1 004421FY4 SUB 5.43250% 6,171,000.00 29,799.07 0.00 B-2 004421FZ1 SUB 5.43250% 8,228,000.00 39,732.10 0.00 B-3 004421GA5 SUB 5.43250% 2,057,000.00 9,933.02 0.00 CE ACE0401CE JUN 0.00000% 2,057,037.29 982,091.93 0.00 P ACE04010P SEN 0.00000% 100.00 368,500.96 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 377,271,441.14 2,203,810.46 15,923,435.72
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1A 0.00 112,155,574.83 6,517,025.52 0.00 A-1B 0.00 112,155,574.83 6,509,656.39 0.00 A-2 0.00 57,839,718.47 3,495,776.59 0.00 M-1 0.00 23,657,000.00 55,357.38 0.00 M-2 0.00 18,513,000.00 51,548.42 0.00 M-3 0.00 5,143,000.00 15,463.29 0.00 M-4 0.00 5,143,000.00 17,749.06 0.00 M-5 0.00 4,114,000.00 14,746.40 0.00 M-6 0.00 4,114,000.00 19,866.05 0.00 B-1 0.00 6,171,000.00 29,799.07 0.00 B-2 0.00 8,228,000.00 39,732.10 0.00 B-3 0.00 2,057,000.00 9,933.02 0.00 CE 0.00 2,057,037.29 982,091.93 0.00 P 0.00 100.00 368,500.96 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 361,348,005.42 18,127,246.18 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 131,108,000.00 118,432,314.34 0.00 6,276,739.51 0.00 0.00 A-1B 131,108,000.00 118,432,314.34 0.00 6,276,739.51 0.00 0.00 A-2 69,994,000.00 61,209,675.17 0.00 3,369,956.70 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 411,407,457.90 377,271,441.14 0.00 15,923,435.72 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 6,276,739.51 112,155,574.83 0.85544417 6,276,739.51 A-1B 6,276,739.51 112,155,574.83 0.85544417 6,276,739.51 A-2 3,369,956.70 57,839,718.47 0.82635252 3,369,956.70 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 15,923,435.72 361,348,005.42 0.87832148 15,923,435.72
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1A 131,108,000.00 903.31874744 0.00000000 47.87457295 0.00000000 A-1B 131,108,000.00 903.31874744 0.00000000 47.87457295 0.00000000 A-2 69,994,000.00 874.49888805 0.00000000 48.14636540 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 47.87457295 855.44417450 0.85544417 47.87457295 A-1B 0.00000000 47.87457295 855.44417450 0.85544417 47.87457295 A-2 0.00000000 48.14636540 826.35252264 0.82635252 48.14636540 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 2.28250% 118,432,314.34 240,286.01 0.00 0.00 A-1B 131,108,000.00 2.21250% 118,432,314.34 232,916.88 0.00 0.00 A-2 69,994,000.00 2.31250% 61,209,675.17 125,819.89 0.00 0.00 M-1 23,657,000.00 2.63250% 23,657,000.00 55,357.38 0.00 0.00 M-2 18,513,000.00 3.13250% 18,513,000.00 51,548.42 0.00 0.00 M-3 5,143,000.00 3.38250% 5,143,000.00 15,463.29 0.00 0.00 M-4 5,143,000.00 3.88250% 5,143,000.00 17,749.06 0.00 0.00 M-5 4,114,000.00 4.03250% 4,114,000.00 14,746.40 0.00 0.00 M-6 4,114,000.00 5.43250% 4,114,000.00 19,866.05 0.00 0.00 B-1 6,171,000.00 5.43250% 6,171,000.00 29,799.07 0.00 0.00 B-2 8,228,000.00 5.43250% 8,228,000.00 39,732.10 0.00 0.00 B-3 2,057,000.00 5.43250% 2,057,000.00 9,933.02 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 411,407,457.90 853,217.57 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 0.00 240,286.01 0.00 112,155,574.83 A-1B 0.00 0.00 232,916.88 0.00 112,155,574.83 A-2 0.00 0.00 125,819.89 0.00 57,839,718.47 M-1 0.00 0.00 55,357.38 0.00 23,657,000.00 M-2 0.00 0.00 51,548.42 0.00 18,513,000.00 M-3 0.00 0.00 15,463.29 0.00 5,143,000.00 M-4 0.00 0.00 17,749.06 0.00 5,143,000.00 M-5 0.00 0.00 14,746.40 0.00 4,114,000.00 M-6 0.00 0.00 19,866.05 0.00 4,114,000.00 B-1 0.00 0.00 29,799.07 0.00 6,171,000.00 B-2 0.00 0.00 39,732.10 0.00 8,228,000.00 B-3 0.00 0.00 9,933.02 0.00 2,057,000.00 CE 0.00 0.00 982,091.93 0.00 2,057,037.29 P 0.00 0.00 368,500.96 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 2,203,810.46 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 2.28250% 903.31874744 1.83273340 0.00000000 0.00000000 A-1B 131,108,000.00 2.21250% 903.31874744 1.77652683 0.00000000 0.00000000 A-2 69,994,000.00 2.31250% 874.49888805 1.79758108 0.00000000 0.00000000 M-1 23,657,000.00 2.63250% 1000.00000000 2.34000000 0.00000000 0.00000000 M-2 18,513,000.00 3.13250% 1000.00000000 2.78444444 0.00000000 0.00000000 M-3 5,143,000.00 3.38250% 1000.00000000 3.00666731 0.00000000 0.00000000 M-4 5,143,000.00 3.88250% 1000.00000000 3.45111025 0.00000000 0.00000000 M-5 4,114,000.00 4.03250% 1000.00000000 3.58444336 0.00000000 0.00000000 M-6 4,114,000.00 5.43250% 1000.00000000 4.82888916 0.00000000 0.00000000 B-1 6,171,000.00 5.43250% 1000.00000000 4.82888835 0.00000000 0.00000000 B-2 8,228,000.00 5.43250% 1000.00000000 4.82888916 0.00000000 0.00000000 B-3 2,057,000.00 5.43250% 1000.00000000 4.82888673 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 1.83273340 0.00000000 855.44417450 A-1B 0.00000000 0.00000000 1.77652683 0.00000000 855.44417450 A-2 0.00000000 0.00000000 1.79758108 0.00000000 826.35252264 M-1 0.00000000 0.00000000 2.34000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.78444444 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.00666731 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.45111025 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.58444336 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 4.82888916 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 4.82888835 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 4.82888916 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 4.82888673 0.00000000 1000.00000000 CE 0.00000000 0.00000000 477.35589904 0.00000000 999.84416421 P 0.00000000 0.00000000 3685009.60000000 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 17,921,856.63 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 64,051.37 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 368,500.96 Total Deposits 18,354,408.96 Withdrawals Reimbursement for Servicer Advances 52,065.05 Payment of Service Fee 175,097.73 Payment of Interest and Principal 18,127,246.18 Total Withdrawals (Pool Distribution Amount) 18,354,408.96 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 157,196.43 Credit Risk Manger Fee: Murray Hill Company 4,715.90 Master Servicing Fee: Wells Fargo Bank 5,816.28 XL Capital Assurance, Class A-1B 7,369.12 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 175,097.73
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 8 0 0 8 707,068.46 0.00 0.00 707,068.46 30 Days 34 0 0 0 34 7,262,191.35 0.00 0.00 0.00 7,262,191.35 60 Days 12 0 0 0 12 2,066,933.96 0.00 0.00 0.00 2,066,933.96 90 Days 4 0 0 0 4 584,833.39 0.00 0.00 0.00 584,833.39 120 Days 2 0 0 0 2 634,522.53 0.00 0.00 0.00 634,522.53 150 Days 0 0 1 0 1 0.00 0.00 122,923.23 0.00 122,923.23 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 52 8 1 0 61 10,548,481.23 707,068.46 122,923.23 0.00 11,378,472.92 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 0.397219% 0.000000% 0.000000% 0.397219% 0.195675% 0.000000% 0.000000% 0.195675% 30 Days 1.688183% 0.000000% 0.000000% 0.000000% 1.688183% 2.009750% 0.000000% 0.000000% 0.000000% 2.009750% 60 Days 0.595829% 0.000000% 0.000000% 0.000000% 0.595829% 0.572006% 0.000000% 0.000000% 0.000000% 0.572006% 90 Days 0.198610% 0.000000% 0.000000% 0.000000% 0.198610% 0.161848% 0.000000% 0.000000% 0.000000% 0.161848% 120 Days 0.099305% 0.000000% 0.000000% 0.000000% 0.099305% 0.175599% 0.000000% 0.000000% 0.000000% 0.175599% 150 Days 0.000000% 0.000000% 0.049652% 0.000000% 0.049652% 0.000000% 0.000000% 0.034018% 0.000000% 0.034018% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.581927% 0.397219% 0.049652% 0.000000% 3.028798% 2.919203% 0.195675% 0.034018% 0.000000% 3.148896%
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 4 0 0 4 565,727.53 0.00 0.00 565,727.53 30 Days 17 0 0 0 17 3,597,658.87 0.00 0.00 0.00 3,597,658.87 60 Days 8 0 0 0 8 1,618,701.56 0.00 0.00 0.00 1,618,701.56 90 Days 2 0 0 0 2 370,217.45 0.00 0.00 0.00 370,217.45 120 Days 1 0 0 0 1 143,104.02 0.00 0.00 0.00 143,104.02 150 Days 0 0 1 0 1 0.00 0.00 122,923.23 0.00 122,923.23 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 28 4 1 0 33 5,729,681.90 565,727.53 122,923.23 0.00 6,418,332.66 0-29 Days 0.345423% 0.000000% 0.000000% 0.345423% 0.244506% 0.000000% 0.000000% 0.244506% 30 Days 1.468048% 0.000000% 0.000000% 0.000000% 1.468048% 1.554900% 0.000000% 0.000000% 0.000000% 1.554900% 60 Days 0.690846% 0.000000% 0.000000% 0.000000% 0.690846% 0.699599% 0.000000% 0.000000% 0.000000% 0.699599% 90 Days 0.172712% 0.000000% 0.000000% 0.000000% 0.172712% 0.160007% 0.000000% 0.000000% 0.000000% 0.160007% 120 Days 0.086356% 0.000000% 0.000000% 0.000000% 0.086356% 0.061849% 0.000000% 0.000000% 0.000000% 0.061849% 150 Days 0.000000% 0.000000% 0.086356% 0.000000% 0.086356% 0.000000% 0.000000% 0.053127% 0.000000% 0.053127% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.417962% 0.345423% 0.086356% 0.000000% 2.849741% 2.476355% 0.244506% 0.053127% 0.000000% 2.773988% 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 4 0 0 4 141,340.93 0.00 0.00 141,340.93 30 Days 6 0 0 0 6 449,376.23 0.00 0.00 0.00 449,376.23 60 Days 3 0 0 0 3 114,711.39 0.00 0.00 0.00 114,711.39 90 Days 2 0 0 0 2 214,615.94 0.00 0.00 0.00 214,615.94 120 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 11 4 0 0 15 778,703.56 141,340.93 0.00 0.00 920,044.49 0-29 Days 0.665557% 0.000000% 0.000000% 0.665557% 0.254913% 0.000000% 0.000000% 0.254913% 30 Days 0.998336% 0.000000% 0.000000% 0.000000% 0.998336% 0.810465% 0.000000% 0.000000% 0.000000% 0.810465% 60 Days 0.499168% 0.000000% 0.000000% 0.000000% 0.499168% 0.206886% 0.000000% 0.000000% 0.000000% 0.206886% 90 Days 0.332779% 0.000000% 0.000000% 0.000000% 0.332779% 0.387067% 0.000000% 0.000000% 0.000000% 0.387067% 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 1.830283% 0.665557% 0.000000% 0.000000% 2.495840% 1.404419% 0.254913% 0.000000% 0.000000% 1.659332% 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 7 0 0 0 7 2,890,230.73 0.00 0.00 0.00 2,890,230.73 60 Days 1 0 0 0 1 333,521.01 0.00 0.00 0.00 333,521.01 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 1 0 0 0 1 491,418.51 0.00 0.00 0.00 491,418.51 150 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 9 0 0 0 9 3,715,170.25 0.00 0.00 0.00 3,715,170.25 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 4.729730% 0.000000% 0.000000% 0.000000% 4.729730% 4.849376% 0.000000% 0.000000% 0.000000% 4.849376% 60 Days 0.675676% 0.000000% 0.000000% 0.000000% 0.675676% 0.559598% 0.000000% 0.000000% 0.000000% 0.559598% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.675676% 0.000000% 0.000000% 0.000000% 0.675676% 0.824527% 0.000000% 0.000000% 0.000000% 0.824527% 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 6.081081% 0.000000% 0.000000% 0.000000% 6.081081% 6.233501% 0.000000% 0.000000% 0.000000% 6.233501% 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 4 0 0 0 4 324,925.52 0.00 0.00 0.00 324,925.52 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 4 0 0 0 4 324,925.52 0.00 0.00 0.00 324,925.52 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 3.738318% 0.000000% 0.000000% 0.000000% 3.738318% 2.176960% 0.000000% 0.000000% 0.000000% 2.176960% 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 3.738318% 0.000000% 0.000000% 0.000000% 3.738318% 2.176960% 0.000000% 0.000000% 0.000000% 2.176960%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 64,051.37
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.811872% Weighted Average Net Coupon 5.963254% Weighted Average Pass-Through Rate 5.929754% Weighted Average Maturity(Stepdown Calculation ) 341 Beginning Scheduled Collateral Loan Count 2,095 Number Of Loans Paid In Full 81 Ending Scheduled Collateral Loan Count 2,014 Beginning Scheduled Collateral Balance 377,271,441.14 Ending Scheduled Collateral Balance 361,348,005.42 Ending Actual Collateral Balance at 31-Oct-2004 361,348,005.42 Monthly P &I Constant 2,462,363.69 Special Servicing Fee 0.00 Prepayment Penalties 368,500.96 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 320,475.82 Unscheduled Principal 15,602,959.90 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
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 6.519583 8.053931 6.421952 Weighted Average Net Rate 6.019583 7.553931 5.921952 Weighted Average Maturity 354 288 354 Beginning Loan Count 1,209 617 155 Loans Paid In Full 51 16 7 Ending Loan Count 1,158 601 148 Beginning Scheduled Balance 242,857,738.08 56,518,037.66 62,441,232.50 Ending scheduled Balance 231,375,610.31 55,446,686.41 59,600,057.99 Record Date 10/31/2004 10/31/2004 10/31/2004 Principal And Interest Constant 1,530,008.59 428,125.11 384,396.53 Scheduled Principal 210,565.90 48,798.11 50,234.36 Unscheduled Principal 11,271,561.87 1,022,553.14 2,790,940.15 Scheduled Interest 1,319,442.69 379,327.00 334,162.17 Servicing Fees 101,190.72 23,549.18 26,017.18 Master Servicing Fees 3,744.06 871.32 962.64 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 81,293.10 13,919.57 16,420.03 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 1,133,214.81 340,986.93 290,762.32 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 5.599401 7.239889 5.587891
Group Level Collateral Statement Group GRP II SUBGRP II Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 8.460175 6.811872 Weighted Average Net Rate 7.960175 5.963254 Weighted Average Maturity 265 341 Beginning Loan Count 114 2,095 Loans Paid In Full 7 81 Ending Loan Count 107 2,014 Beginning Scheduled Balance 15,454,432.90 377,271,441.14 Ending scheduled Balance 14,925,650.71 361,348,005.42 Record Date 10/31/2004 10/31/2004 Principal And Interest Constant 119,833.46 2,462,363.69 Scheduled Principal 10,877.45 320,475.82 Unscheduled Principal 517,904.74 15,602,959.90 Scheduled Interest 108,956.01 2,141,887.87 Servicing Fees 6,439.35 157,196.43 Master Servicing Fees 238.26 5,816.28 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 2,686.18 114,318.88 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 99,592.22 1,864,556.28 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 7.733100 5.929754