8-K 1 ace04fm2_oct.txt OCTOBER 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): October 25, 2004 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2004-FM2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-110039-10 54-6636487 Pooling and Servicing Agreement) (Commission 54-6636488 (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 October 25, 2004 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2004-FM2 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-FM2 Trust, relating to the October 25, 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-FM2 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: 10/29/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2004-FM2 Trust, relating to the October 25, 2004 distribution. EX-99.1
ACE Securities Corporation Asset-Backed Pass-Through Certificates Record Date: 9/30/04 Distribution Date: 10/25/04 ACE Series: 2004-FM2 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 004421GD9 SEN 2.14000% 316,888,638.89 527,443.53 6,334,907.01 A-1B 004421GE7 SEN 2.14000% 317,630,145.03 528,677.73 6,208,285.52 A-2A 004421GF4 SEN 2.00000% 113,647,774.44 176,785.43 6,108,209.82 A-2B 004421GG2 SEN 2.15000% 37,106,000.00 62,049.48 0.00 A-2C 004421GH0 SEN 2.32000% 33,519,000.00 60,483.17 0.00 M-1 004421GJ6 MEZ 2.49000% 63,498,000.00 122,974.46 0.00 M-2 004421GK3 MEZ 3.04000% 51,208,000.00 121,078.47 0.00 M-3 004421GL1 MEZ 3.19000% 15,362,000.00 38,114.83 0.00 M-4 004421GM9 MEZ 3.97000% 12,802,000.00 39,529.73 0.00 M-5 004421GN7 MEZ 3.79000% 10,242,000.00 30,191.14 0.00 M-6 004421GP2 MEZ 5.34000% 10,242,000.00 42,538.44 0.00 B 004421GQ0 SUB 5.34000% 15,362,000.00 63,803.51 0.00 CE ACE04FM2C MEZ 0.00000% 15,874,550.04 3,519,597.32 0.00 P ACE04FM2P SEN 0.00000% 100.00 449,640.56 0.00 R ACE4FM2R1 SEN 0.00000% 0.00 0.00 0.00 Totals 1,013,382,208.40 5,782,907.80 18,651,402.35
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1A 0.00 310,553,731.88 6,862,350.54 0.00 A-1B 0.00 311,421,859.51 6,736,963.25 0.00 A-2A 0.00 107,539,564.62 6,284,995.25 0.00 A-2B 0.00 37,106,000.00 62,049.48 0.00 A-2C 0.00 33,519,000.00 60,483.17 0.00 M-1 0.00 63,498,000.00 122,974.46 0.00 M-2 0.00 51,208,000.00 121,078.47 0.00 M-3 0.00 15,362,000.00 38,114.83 0.00 M-4 0.00 12,802,000.00 39,529.73 0.00 M-5 0.00 10,242,000.00 30,191.14 0.00 M-6 0.00 10,242,000.00 42,538.44 0.00 B 0.00 15,362,000.00 63,803.51 0.00 CE 0.00 15,874,550.04 3,519,597.32 0.00 P 0.00 100.00 449,640.56 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 994,730,806.05 24,434,310.15 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 321,661,000.00 316,888,638.89 0.00 6,334,907.01 0.00 0.00 A-1B 321,661,000.00 317,630,145.03 0.00 6,208,285.52 0.00 0.00 A-2A 115,627,000.00 113,647,774.44 0.00 6,108,209.82 0.00 0.00 A-2B 37,106,000.00 37,106,000.00 0.00 0.00 0.00 0.00 A-2C 33,519,000.00 33,519,000.00 0.00 0.00 0.00 0.00 M-1 63,498,000.00 63,498,000.00 0.00 0.00 0.00 0.00 M-2 51,208,000.00 51,208,000.00 0.00 0.00 0.00 0.00 M-3 15,362,000.00 15,362,000.00 0.00 0.00 0.00 0.00 M-4 12,802,000.00 12,802,000.00 0.00 0.00 0.00 0.00 M-5 10,242,000.00 10,242,000.00 0.00 0.00 0.00 0.00 M-6 10,242,000.00 10,242,000.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 992,928,100.00 982,145,658.36 0.00 18,651,402.35 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 6,334,907.01 310,553,731.88 0.96546902 6,334,907.01 A-1B 6,208,285.52 311,421,859.51 0.96816791 6,208,285.52 A-2A 6,108,209.82 107,539,564.62 0.93005582 6,108,209.82 A-2B 0.00 37,106,000.00 1.00000000 0.00 A-2C 0.00 33,519,000.00 1.00000000 0.00 M-1 0.00 63,498,000.00 1.00000000 0.00 M-2 0.00 51,208,000.00 1.00000000 0.00 M-3 0.00 15,362,000.00 1.00000000 0.00 M-4 0.00 12,802,000.00 1.00000000 0.00 M-5 0.00 10,242,000.00 1.00000000 0.00 M-6 0.00 10,242,000.00 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 18,651,402.35 963,494,256.01 0.97035652 18,651,402.35
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1A 321,661,000.00 985.16338285 0.00000000 19.69435838 0.00000000 A-1B 321,661,000.00 987.46862389 0.00000000 19.30070950 0.00000000 A-2A 115,627,000.00 982.88266962 0.00000000 52.82684684 0.00000000 A-2B 37,106,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-2C 33,519,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 63,498,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 51,208,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 15,362,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 12,802,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 10,242,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 10,242,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 15,362,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 15,874,418.64 1000.00827747 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 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 19.69435838 965.46902447 0.96546902 19.69435838 A-1B 0.00000000 19.30070950 968.16791439 0.96816791 19.30070950 A-2A 0.00000000 52.82684684 930.05582277 0.93005582 52.82684684 A-2B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-2C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 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 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 1,000.00827747 1.00000828 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 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 321,661,000.00 2.14000% 316,888,638.89 527,443.53 0.00 0.00 A-1B 321,661,000.00 2.14000% 317,630,145.03 528,677.73 0.00 0.00 A-2A 115,627,000.00 2.00000% 113,647,774.44 176,785.43 0.00 0.00 A-2B 37,106,000.00 2.15000% 37,106,000.00 62,049.48 0.00 0.00 A-2C 33,519,000.00 2.32000% 33,519,000.00 60,483.17 0.00 0.00 M-1 63,498,000.00 2.49000% 63,498,000.00 122,974.46 0.00 0.00 M-2 51,208,000.00 3.04000% 51,208,000.00 121,078.47 0.00 0.00 M-3 15,362,000.00 3.19000% 15,362,000.00 38,114.83 0.00 0.00 M-4 12,802,000.00 3.97000% 12,802,000.00 39,529.73 0.00 0.00 M-5 10,242,000.00 3.79000% 10,242,000.00 30,191.14 0.00 0.00 M-6 10,242,000.00 5.34000% 10,242,000.00 42,538.44 0.00 0.00 B 15,362,000.00 5.34000% 15,362,000.00 63,803.51 0.00 0.00 CE 15,874,418.64 0.00000% 15,874,550.04 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,024,164,518.64 1,813,669.92 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 0.00 527,443.53 0.00 310,553,731.88 A-1B 0.00 0.00 528,677.73 0.00 311,421,859.51 A-2A 0.00 0.00 176,785.43 0.00 107,539,564.62 A-2B 0.00 0.00 62,049.48 0.00 37,106,000.00 A-2C 0.00 0.00 60,483.17 0.00 33,519,000.00 M-1 0.00 0.00 122,974.46 0.00 63,498,000.00 M-2 0.00 0.00 121,078.47 0.00 51,208,000.00 M-3 0.00 0.00 38,114.83 0.00 15,362,000.00 M-4 0.00 0.00 39,529.73 0.00 12,802,000.00 M-5 0.00 0.00 30,191.14 0.00 10,242,000.00 M-6 0.00 0.00 42,538.44 0.00 10,242,000.00 B 0.00 0.00 63,803.51 0.00 15,362,000.00 CE 0.00 0.00 3,519,597.32 0.00 15,874,550.04 P 0.00 0.00 449,640.56 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 5,782,907.80 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 321,661,000.00 2.14000% 985.16338285 1.63974971 0.00000000 0.00000000 A-1B 321,661,000.00 2.14000% 987.46862389 1.64358666 0.00000000 0.00000000 A-2A 115,627,000.00 2.00000% 982.88266962 1.52892862 0.00000000 0.00000000 A-2B 37,106,000.00 2.15000% 1000.00000000 1.67222228 0.00000000 0.00000000 A-2C 33,519,000.00 2.32000% 1000.00000000 1.80444434 0.00000000 0.00000000 M-1 63,498,000.00 2.49000% 1000.00000000 1.93666667 0.00000000 0.00000000 M-2 51,208,000.00 3.04000% 1000.00000000 2.36444442 0.00000000 0.00000000 M-3 15,362,000.00 3.19000% 1000.00000000 2.48111118 0.00000000 0.00000000 M-4 12,802,000.00 3.97000% 1000.00000000 3.08777769 0.00000000 0.00000000 M-5 10,242,000.00 3.79000% 1000.00000000 2.94777778 0.00000000 0.00000000 M-6 10,242,000.00 5.34000% 1000.00000000 4.15333333 0.00000000 0.00000000 B 15,362,000.00 5.34000% 1000.00000000 4.15333355 0.00000000 0.00000000 CE 15,874,418.64 0.00000% 1000.00827747 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 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 1.63974971 0.00000000 965.46902447 A-1B 0.00000000 0.00000000 1.64358666 0.00000000 968.16791439 A-2A 0.00000000 0.00000000 1.52892862 0.00000000 930.05582277 A-2B 0.00000000 0.00000000 1.67222228 0.00000000 1000.00000000 A-2C 0.00000000 0.00000000 1.80444434 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.93666667 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.36444442 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.48111118 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.08777769 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 2.94777778 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 4.15333333 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.15333355 0.00000000 1000.00000000 CE 0.00000000 0.00000000 221.71503724 0.00000000 1000.00827747 P 0.00000000 0.00000000 4496405.60000000 0.00000000 1000.00000000 R 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 24,329,971.54 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 81,163.07 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 449,640.56 Total Deposits 24,860,775.17 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 426,465.02 Payment of Interest and Principal 24,434,310.15 Total Withdrawals (Pool Distribution Amount) 24,860,775.17 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 422,242.59 Master Servicing Fee 4,222.43 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 426,465.02
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 0.00 0.00 0.00 0.00
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 57 0 0 0 57 9,195,027.77 0.00 0.00 0.00 9,195,027.77 60 Days 18 0 0 0 18 2,823,320.89 0.00 0.00 0.00 2,823,320.89 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 75 0 0 0 75 12,018,348.66 0.00 0.00 0.00 12,018,348.66 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 1.014235% 0.000000% 0.000000% 0.000000% 1.014235% 0.923579% 0.000000% 0.000000% 0.000000% 0.923579% 60 Days 0.320285% 0.000000% 0.000000% 0.000000% 0.320285% 0.283584% 0.000000% 0.000000% 0.000000% 0.283584% 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 1.334520% 0.000000% 0.000000% 0.000000% 1.334520% 1.207163% 0.000000% 0.000000% 0.000000% 1.207163%
Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group IA Sub Grp 1 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 12 0 0 0 12 900,830.07 0.00 0.00 0.00 900,830.07 60 Days 1 0 0 0 1 5,847.80 0.00 0.00 0.00 5,847.80 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 13 0 0 0 13 906,677.87 0.00 0.00 0.00 906,677.87 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.615074% 0.000000% 0.000000% 0.000000% 1.615074% 1.216892% 0.000000% 0.000000% 0.000000% 1.216892% 60 Days 0.134590% 0.000000% 0.000000% 0.000000% 0.134590% 0.007900% 0.000000% 0.000000% 0.000000% 0.007900% 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 1.749664% 0.000000% 0.000000% 0.000000% 1.749664% 1.224791% 0.000000% 0.000000% 0.000000% 1.224791% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group IA Sub Grp 2 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 18 0 0 0 18 3,467,761.36 0.00 0.00 0.00 3,467,761.36 60 Days 9 0 0 0 9 1,394,237.22 0.00 0.00 0.00 1,394,237.22 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 27 0 0 0 27 4,861,998.58 0.00 0.00 0.00 4,861,998.58 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.955921% 0.000000% 0.000000% 0.000000% 0.955921% 1.110344% 0.000000% 0.000000% 0.000000% 1.110344% 60 Days 0.477961% 0.000000% 0.000000% 0.000000% 0.477961% 0.446422% 0.000000% 0.000000% 0.000000% 0.446422% 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 1.433882% 0.000000% 0.000000% 0.000000% 1.433882% 1.556766% 0.000000% 0.000000% 0.000000% 1.556766% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group IB Sub Grp 1 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 5 0 0 0 5 184,071.37 0.00 0.00 0.00 184,071.37 60 Days 4 0 0 0 4 415,953.17 0.00 0.00 0.00 415,953.17 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 9 0 0 0 9 600,024.54 0.00 0.00 0.00 600,024.54 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.721501% 0.000000% 0.000000% 0.000000% 0.721501% 0.260871% 0.000000% 0.000000% 0.000000% 0.260871% 60 Days 0.577201% 0.000000% 0.000000% 0.000000% 0.577201% 0.589500% 0.000000% 0.000000% 0.000000% 0.589500% 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 1.298701% 0.000000% 0.000000% 0.000000% 1.298701% 0.850371% 0.000000% 0.000000% 0.000000% 0.850371% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group IB Sub Grp 2 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 18 0 0 0 18 3,367,112.62 0.00 0.00 0.00 3,367,112.62 60 Days 3 0 0 0 3 629,578.02 0.00 0.00 0.00 629,578.02 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 21 0 0 0 21 3,996,690.64 0.00 0.00 0.00 3,996,690.64 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.056958% 0.000000% 0.000000% 0.000000% 1.056958% 1.063313% 0.000000% 0.000000% 0.000000% 1.063313% 60 Days 0.176160% 0.000000% 0.000000% 0.000000% 0.176160% 0.198817% 0.000000% 0.000000% 0.000000% 0.198817% 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 1.233118% 0.000000% 0.000000% 0.000000% 1.233118% 1.262130% 0.000000% 0.000000% 0.000000% 1.262130% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II Sub Grp 1 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 1 0 0 0 1 53,038.51 0.00 0.00 0.00 53,038.51 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 1 0 0 0 1 53,038.51 0.00 0.00 0.00 53,038.51 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.641026% 0.000000% 0.000000% 0.000000% 0.641026% 0.138948% 0.000000% 0.000000% 0.000000% 0.138948% 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 0.641026% 0.000000% 0.000000% 0.000000% 0.641026% 0.138948% 0.000000% 0.000000% 0.000000% 0.138948% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II Sub Grp 2 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 1,222,213.84 0.00 0.00 0.00 1,222,213.84 60 Days 1 0 0 0 1 377,704.68 0.00 0.00 0.00 377,704.68 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 1,599,918.52 0.00 0.00 0.00 1,599,918.52 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.678733% 0.000000% 0.000000% 0.000000% 0.678733% 0.664786% 0.000000% 0.000000% 0.000000% 0.664786% 60 Days 0.226244% 0.000000% 0.000000% 0.000000% 0.226244% 0.205441% 0.000000% 0.000000% 0.000000% 0.205441% 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 0.904977% 0.000000% 0.000000% 0.000000% 0.904977% 0.870227% 0.000000% 0.000000% 0.000000% 0.870227%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 81,163.07
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.820407% Weighted Average Net Coupon 6.320406% Weighted Average Pass-Through Rate 6.315406% Weighted Average Maturity(Stepdown Calculation ) 350 Beginning Scheduled Collateral Loan Count 5,712 Number Of Loans Paid In Full 92 Ending Scheduled Collateral Loan Count 5,620 Beginning Scheduled Collateral Balance 1,013,382,208.40 Ending Scheduled Collateral Balance 994,730,806.05 Ending Actual Collateral Balance at 30-Sep-2004 995,586,148.74 Monthly P &I Constant 6,588,372.54 Special Servicing Fee 0.00 Prepayment Penalties 449,640.56 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 828,595.54 Unscheduled Principal 17,822,806.81 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 15,874,550.04 Overcollateralized Amount 15,874,550.04 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00
Group Level Collateral Statement Group Group IA Sub Grp 1 Group IA Sub Grp 2 Group IB Sub Grp 1 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.653365 6.887128 7.450862 Weighted Average Net Rate 7.153365 6.387128 6.950862 Weighted Average Maturity 324 355 327 Beginning Loan Count 758 1,911 700 Loans Paid In Full 15 28 7 Ending Loan Count 743 1,883 693 Beginning Scheduled Balance 74,841,868.62 317,497,715.78 70,969,555.85 Ending scheduled Balance 73,943,299.74 312,061,377.65 70,478,015.77 Record Date 09/30/2004 09/30/2004 09/30/2004 Principal And Interest Constant 560,948.10 2,064,637.47 519,959.79 Scheduled Principal 83,621.32 242,431.24 79,306.15 Unscheduled Principal 814,947.56 5,193,906.89 412,233.93 Scheduled Interest 477,326.78 1,822,206.23 440,653.64 Servicing Fees 31,184.11 132,290.71 29,570.65 Master Servicing Fees 311.84 1,322.91 295.71 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 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 445,830.83 1,688,592.61 410,787.28 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 7.148365 6.382128 6.945862
Group Level Collateral Statement Group Group IB Sub Grp 2 Group II Sub Grp 1 Group II Sub Grp 2 Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 6.737215 6.816277 6.286872 Weighted Average Net Rate 6.237215 6.316277 5.786872 Weighted Average Maturity 355 343 355 Beginning Loan Count 1,731 156 456 Loans Paid In Full 28 0 14 Ending Loan Count 1,703 156 442 Beginning Scheduled Balance 322,111,960.74 38,172,187.21 189,788,920.20 Ending scheduled Balance 316,395,215.30 38,132,796.72 183,720,100.87 Record Date 09/30/2004 09/30/2004 09/30/2004 Principal And Interest Constant 2,062,745.47 255,407.90 1,124,673.81 Scheduled Principal 254,297.55 38,581.05 130,358.23 Unscheduled Principal 5,462,447.89 809.44 5,938,461.10 Scheduled Interest 1,808,447.92 216,826.85 994,315.58 Servicing Fees 134,213.32 15,905.08 79,078.72 Master Servicing Fees 1,342.13 159.05 790.79 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 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 1,672,892.47 200,762.72 914,446.07 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 6.232215 6.311277 5.781872
Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 6.820407 Weighted Average Net Rate 6.320406 Weighted Average Maturity 350.00 Record Date 09/30/2004 Principal And Interest Constant 6,588,372.54 Beginning Loan Count 5,712 Loans Paid In Full 92 Ending Loan Count 5,620 Beginning Scheduled Balance 1,013,382,208.40 Ending Scheduled Balance 994,730,806.05 Scheduled Principal 828,595.54 Unscheduled Principal 17,822,806.81 Scheduled Interest 5,759,777.00 Servicing Fee 422,242.59 Master Servicing Fee 4,222.43 Trustee Fee 0.00 Fry Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 5,333,311.98 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 6.315406