Equifirst Mortgage Loan Trust 2004-2 8-K Other Events

                                     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, 2004
                         (Date of earliest event reported)

            Financial Asset Securities Corporation (as Depositor under the
               Pooling and Servicing Agreement, dated as June 15, 2004,
               providing for the issuance of Equifirst Mortgage Loan Trust
         Series 2004-2 Asset-Backed Pass-Through Certificates, Series 2004-2)
                 (Exact name of registrant as specified in charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-111379-15                          06-1442101
          (Commission File Number)        (I.R.S. Employer Identification No.)


               600 Steamboat Road
               Greenwich, Connecticut                    06830
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (203) 625-2700


       (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, 2004.

                                    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 Financial Asset Securities
                                  Corporation, Registrant


          Date:  Dec 27, 2004               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, 2004.










			

	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	December 27, 2004 Distribution
	Contents
			TABLE OF CONTENTS
								Page
			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				14
			8.	Foreclosure Report				15
			9.	Prepayment Report				16
			10.	Prepayment Detail Report				19
			11.	Realized Loss Report				20
			12.	Realized Loss Detail Report				23
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				24
			14.	Additional Certificate Report				25
						&n bsp;
				Total Number of Pages				25
			CONTACTS
				Administrator: Eiko Akiyama
				Direct Phone Number: (714)247-6328
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: https://www.tss.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Greenwich Capital Financial Products, In					Cut-Off Date: June 15, 2004
	Certificate Insurer(s):							Closing Date: June 30, 2004
								First Payment Date: July 26, 2004
	Servicer(s):		Saxon Mortgage, Inc. Master Servicer
								Distribution Date: December 27, 2004
	Underwriter(s):		Greenwich Capital Markets					Record Date: December 24, 2004
								November 30, 2004
						Page 1 of 25					© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Series 2004-2
	Certificate Payment Report for December 27, 2004 Distribution
										&n bsp;
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
I-A1		251,720,000.00			244,208,121.93	517,314.20	2,828,345.44	3,345,659.64	-	-	241,379,776.49
II-A1		102,315,000.00			94,025,472.79	185,413.01	3,784,523.69	3,969,936.70	-	-	90,240,949.10
II-A2		126,120,000.00			126,120,000.00	263,906.10	-	263,906.10	-	-	126,120,000.00
II-A3		23,315,000.0 0			23,315,000.00	53,404.30	-	53,404.30	-	-	23,315,000.00
M-1		21,086,000.00			21,086,000.00	49,569.67	-	49,569.67	-	-	21,086,000.00
M-2		21,086,000.00			21,086,000.0 0	50,477.54	-	50,477.54	-	-	21,086,000.00
M-3		12,976,000.00			12,976,000.00	31,957.00	-	31,957.00	-	-	12,976,000.00
M-4		11,354,000.00			11,354,000.00	32,5 57.60	-	32,557.60	-	-	11,354,000.00
M-5		11,354,000.00			11,354,000.00	33,535.30	-	33,535.30	-	-	11,354,000.00
M-6		11,354,000.00			11,354,000.00	35,490.71	-	35,490.71	-	-	11,354,000.00
M-7		9,732,000.00			9,732,000.00	35,029.79	-	35,029.79	-	-	9,732,000.00
M-8		9,732,000.00			9,732,000.00	37,124.88	-	37,124.88	-	-	9,732,000.00
M-9		9,732,000.00			9,732,000.00	46,762.26	-	46,762.26	-	-	9,732,000.00
B-1		8,110,000.00			8,110,000.00	38,968.55	-	38,968.55	-	-	8,110,000.00
B-2		9,732,000.00			9,732,000.00	46,762.26	-	46,762.26	-	-	9,732,000.00
C		9,081,900.00			9,083,200.00	1,842,780.63	-	1,842,780.63	-	-	9,083,200.00
P		100.00			100.00	224,576.73	-	224,576.73	-	-	100.00
R		-			-	-	-	-	-	-	-
R-X		-			-	-	-	-	-	-	-
Total		648,800,000.00			632,999,894.72	3,525,630.53	6,612,869.13	10,138,499.66	-	-	626,387,025.59
	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)	(2)	(3)	(4)=(2)+(3)	(5)
I-A1	11/26/04	12/26/04		A-Act/360	29445FBD9	251,720,000.00	970.157802	2.055118	11.236078	13.291195	958.921724
II-A1	11/26/04	12/26/04		A-Act/360	29445FBE7	102,315,000.00	918.980333	1.812178	36.988943	38.801121	881.991390
II-A2	11/26/04	12/26/04		A-Act/360	29445FBF4	126,120,000.00	1,000.000000	2.092500	-	2.092500	1,000.000000
II-A3	11/26/04	12/26/04		A-Act/360	29445FBG2	23,315,000.00	1,000.000000	2.290555	-	2.290555	1,000.000000
M-1	11/26/04	12/26/04		A-Act/360	29445FBH0	21,086,000.00	1,000.000000	2.350833	-	2.350833	1,000.000000
M-2	11/26/04	12/26/04		A-Act/360	29445FBJ6	21,086,000.00	1,000.000000	2.393889	-	2.393889	1,000.000000
M-3	11/26/04	12/26/04		A-Act/360	29445FBK3	12,976,000.00	1,000.000000	2.462777	-	2.462777	1,000.000000
M-4	11/26/04	12/26/04		A-Act/360	29445FBL1	11,354,000.00	1,000.000000	2.867500	-	2.867500	1,000.000000
M-5	11/26/04	12/26/04		A-Act/360	29445FBM9	11,354,000.00	1,000.000000	2.953611	-	2.953611	1,000.000000
M-6	11/26/04	12/26/04		A-Act/360	29445FBN7	11,354,000.00	1,000.000000	3.125833	-	3.125833	1,000.000000
M-7	11/26/04	12/26/04		A-Act/360	29445FBP2	9,732,000.00	1,000.000000	3.599444	-	3.599444	1,000.000000
M-8	11/26/04	12/26/04		A-Act/360	29445FBQ0	9,732,000.00	1,000.000000	3.814723	-	3.814723	1,000.000000
M-9	11/26/04	12/26/04		A-Act/360	29445FBR8	9,732,000.00	1,000.000000	4.805000	-	4.805000	1,000.000000
B-1	11/26/04	12/26/04		A-Act/360	29445FBS6	8,110,000.00	1,000.000000	4.805000	-	4.805000	1,000.000000
B-2	11/26/04	12/26/04		A-Act/360	29445FBT4	9,732,000.00	1,000.000000	4.805000	-	4.805000	1,000.000000
C				A-30/360		657,881,900.00	975.985347	2.801081	-	2.801081	965.933590
P				-		100.00	1,000.000000	2,245,767.300000	-	2,245,767.300000	1,000.000000
R				-		-	-	-	-	-	-
R-X				-		-	-	-	-	-	-
							Page 2 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Series 2004-2
	Certificate Payment Report for December 27, 2004 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
I-A1	251,720,000.00		2,499,746.88		8,700,320.48	1,639,903.03	10,340,223.51	12,839,970.39	-	-	241,379,776.49
II-A1	102,315,000.00		908,511.39		10,489,615.97	1,584,434.93	12,074,050.90	12,982,562.29	-	-	90,240,949.10
II-A2	126,120,000.00		1,252,704.42		-	-	-	1,252,704.42	-	-	126,120,000 .00
II-A3	23,315,000.00		258,391.71		-	-	-	258,391.71	-	-	23,315,000.00
M-1	21,086,000.00		241,068.61		-	-	-	241,068.61	-	-	21,086,000.00
M-2	21,086,000.00		246,340.13		-	-	-	246,340.13	-	-	21,086,000.00
M-3	12,976,000.00		156,784.32		-	-	-	156,784.32	-	-	12,976,000.00
M-4	11,354,000.00		163,868.19		-	-	-	163,868.19	-	-	11,354,000.00
M-5	11,354,000.00		169,545.18		-	-	-	169,545.18	-	-	11,354,000.00
M-6	11,354,000.00		180,899.17		-	-	-	180,899.17	-	-	11,354,000.00
M-7	9,732,000.00		181,819.45		-	-	-	181,819.45	-	-	9,732,000.00
M-8	9,732,000.00	193,984.44		-	-	-	193,984.44	-	-	9,732,000.00
M-9	9,732,000.00		249,943.45		-	-	-	249,943.45	-	-	9,732,000.00
B-1	8,110,000.00		208,286.21		-	-	-	208,286.21	-	-	8,110,000.00
B-2	9,732,000.00		249,943.45		-	-	-	249,943.45	-	-	9,732,000.00
C	9,081,900.00		11,202,106.27		-	-	-	11,202,106.27	(1,300.00)	-	9,083,200.00
P	100.00		619,557.46		-	-	-	619,557.46	-	-	100.00
R	-		-		-	-	-	-	-	-	-
R-X	-		-		-	-	-	-	-	-	-
Total	648,800,000.00		18,983,500.73		19,189,936.45	3,224,337.96	22,414,274.41	41,397,775.14	(1,300.00)	-	626,387,025.59
	Interest Detail
	Pass-	P rior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
								&nb sp;
I-A1	2.46000%	244,208,121.93			517,314.20	-	-	-	517,314.20	517,314.20	-
II-A1	2.29000%	94,025,472.79			185,413.01	-	-	-	185,413.01	185,413.01	-
II-A2	2.43000%	126,120,000.00			263,906.10	-	-	-	263,906.10	263,906.10	-
II-A3	2.66000%	23,315,000.00			53,404.30	-	-	-	53,404.30	53,404.30	-
M-1	2.73000%	21,086,000.00			49,569.67	-	-	-	49,569.67	49,569.67	-
M-2	2.78000%	21,086,000.00			50,477.54	-	-	-	50,477.54	50,477.54	-
M-3	2.86000%	12,976,000.00			31,957.00	-	-	-	31,957.00	31,957.00	-
M-4	3.33000%	11,354,000.00			32,557.60	-	-	-	32,557.60	32,557.60	-
M-5	3.43000%	11,354,000.00			33,535.30	-	-	-	33,535.30	33,535.30	-
M-6	3.63000%	11,354,000.00			35,490.71	-	-	-	35,490.71	35,490.71	-
M-7	4.18000%	9,732,000.00			35,029.79	-	-	-	35,029.79	35,029.79	-
M-8	4.43000%	9,732,000.00			37,124.88	-	-	-	37,124.88	37,124.88	-
M-9	5.58000%	9,732,000.00			46,762.26	-	-	-	46,762.26	46,762.26	-
B-1	5.58000%	8,110,000.00			38,968.55	-	-	-	38,968.55	38,968.55	-
B-2	5.58000%	9,732,000.00			46,762.26	-	-	-	46,762.26	46,762.26	-
C	3.49342%	642,083,094.72			1,842,780.63	-	-	-	1,842,780.63	1,842,780.63	-
P		100.00			224,576.73	-	-	-	224,576.73	224,576.73	-
R		-			-	-	-	-	-	-	-
R-X		-			-	-	-	-	-	-	-
Total		1,265,999,789.44			3,525,630.53	-	-	-	3,525,630.53	3,525,630.53	-
							Page 3 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Collecti on Account Report for December 27, 2004 Distribution
	Collection Account Report
SUMMARY						GROUP II	GROUP I	TOTAL
	Principal Collections					3,784,523.69	2,828,345.44	6,612,869.13
	Principal Withdrawals					0.00	0.00	0.00
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					3,784,523.69	2,828,345.44	6,612,869.13
	Interest Collections					1,852,068.29	1,745,798.42	3,597,866.71
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(38,393.46)	(33,842.72)	(72,236.18)
	TOTAL NET INTEREST					1,813,674.83	1,711,955.70	3,525,630.53
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS					5,598,198.52	4,540,301.14	10,138,499.66
PRINCIPAL - COLLECTIONS						GROUP II	GROUP I	TOTAL
	Scheduled Principal					293,114.66	300,184.14	593,298.80
	Curtailments					23,876.77	18,987.47	42,864.24
	Prepayments in Full					3,467,532.26	2,509,173.83	5,976,706.09
	Repurchases/Substitutions Shortfalls					0.00	0.00	0.00
	L iquidations					0.00	0.00	0.00
	Insurance Principal					0.00	0.00	0.00
	Other Additional Principal			&nb sp;		0.00	0.00	0.00
	Delinquent Principal					(213,275.00)	(228,260.84)	(441,535.84)
	Advanced Principal					213,275.00	228,260.84	441,535.84
	Realized Losses					0.00	0.00	0.00
	TOTAL PRINCIPAL COLLECTED					3,784,523.69	2,828,345.44	6,612,869.13
				Page 4 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Collection Account Report for December 27, 2004 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS						GROUP II	GROUP I	TOTAL		&nb sp;
SPACE INTENTIONALLY LEFT BLANK
							& nbsp;
PRINCIPAL - OTHER ACCOUNTS						GROUP II	GROUP I	TOTAL
	TOTAL OTHER ACCOUNTS PRINCIPAL					0.00	0.00	0.00
INTEREST - COLLECTIONS						GROUP II	GROUP I	TOTAL
	Scheduled Interest					1,811,794.98	1,755,460.32	3,567,255.30
	Repurchases/Substitutions					0.00	0.00	0.00
	Liquidations					0.00	0.00	0.00
	Insurance Interest					0.00	0.00	0.00
	Other Additional Interest					0.00	0.00	0.00
	Month End Interest (PPIS)					(1,601.37)	(1,232.42)	(2,833.79)
	Delinquent Interest					(1,307,558.19)	(1,317,941.93)	(2,625,500.12)
	Realized Losses					0.00	0.00	0.00
	Compensating Month End Interest					1,601.37	1,232.42	2,833.79
	Other Interest Shortfall (Relief Act)					0.00	(236.05)	(236.05)
	Interest Advanced					1,213,122.52	1,218,648.33	2,431,770.85
	Prepayment Penalties					134,708.98	89,867.75	224,576.73
	TOTAL INTEREST COLLECTED					1,852,068.29	1,745,798.42	3,597,866.71
				Page 5 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Collection Account Report for December 27, 2004 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS						GROUP II	GROUP I	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - OTHER ACCOUNTS						GROUP II	GROUP I	TOTAL
	TOTAL OTHER ACCOUNT INTEREST					0.00	0.00	0.00
						;
INTEREST - FEES						GROUP II	GROUP I	TOTAL
	Current Servicing Fees				& nbsp;	37,286.99	32,733.69	70,020.68
	Trustee Fee					1,106.47	1,109.03	2,215.50
	PMI Insurance Premium Fees					0.00	0.00	0.00
	TOTAL INTEREST OTHER FEES					38,393.46	33,842.72	72,236.18
				Page 6 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for December 27, 2004 Distribution
										&nb sp;
	Credit Enhancement Report
ACCOUNTS						GROUP II	GROUP I	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INSURANCE						GROUP II	GROUP I	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES						GROUP II	GROUP I	TOTAL
	Overcollateralization Target Amount							9,083,200.00
	Overcollateralized Amount							9,083,200.00
	Excess Overcollateralized Amount							0.00
	Overcollateralization Release Amount					0.00	0.00	0.00
	Overcollateralization Deficiency Amount							0.00
	Extra Principal Distribution Amt					0.00	0.00	0.00
				Page 7 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Collateral Report for December 27, 2004 Distribution
;	Collateral Report
								&n bsp;
COLLATERAL						GROUP II	GROUP I	TOTAL
	Loan Count:
	Original					2038	1979	4017
	Prior					2,339	2,317	4,656
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(22)	(18)	(40)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					2,317	2,299	4,616
	Principal Balance:								;
	Original					269,824,495.10	269,778,160.36	539,602,655.46
	Prior					316,134,389.03	316,865,505.69	632,999,894.72
	Prefunding					-	-	-
;	Scheduled Principal					(293,114.66)	(300,184.14)	(593,298.80)
	Partial and Full Voluntary Prepayments					(3,491,409.03)	(2,528,161.30)	(6,019,570.33)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current		& nbsp;			312,349,865.34	314,037,160.25	626,387,025.59
PREFUNDING						GROUP II	GROUP I	TOTAL
	PRINCIPAL COMMITMENT AMOUNT
	Original Principal Commitment Amount							648,800,000.00
	Beginning Principal Commitment Amount							632,999,894.72
	Amount withdrawn for subsequent loans this period							0.00
	Ending Principal Commitment Amount							626,387,025.59
	Group I
	Group II
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Collateral Report for December 27, 2004 Distribution
	Collateral Report
CHARACTERISTICS						GROUP II	GROUP I	TOTAL
	Weighted Average Coupon Original					6.887580%	6.611555%	6.749579%
	Weighted Average Coupon Prior					6.879561%	6.649804%	6.764581%
	Weighted Average Coupon Current					6.877309%	6.648706%	6.762876%
	Weighted Average Months to Maturity Original					353	354	354
	Weighted Average Months to Maturity Prior					349	350	350
	Weighted Average Months to Maturity Current					348	349	349			&n bsp;
	Weighted Avg Remaining Amortization Term Original					353	354	354
	Weighted Avg Remaining Amortization Term Prior					349	350	349
	Weighted Avg Remaining Amortization Term Current					348	349	348
	Weighted Average Seasoning Original					2.56	2.43	2.50
	Weighted Average Seasoning Prior					6.97	6.67	6.82
	Weighted Average Seasoning Current					7.97	7.67	7.81
Note: Original information refers to deal issue.
	Group I
	Group II
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 25				© COPYRIGHT 2004 Deutsche Bank
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	Collateral Report for December 27, 2004 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP II	GROUP I	TOTAL
	Weighted Average Margin Original					5.331%	5.326%
	Weighted Average Margin Prior					5.293%	5.268%
	Weighted Average Margin Current					5.281%	5.259%
	Weighted Average Max Rate Original					11.495%	11.445%
	Weighted Average Max Rate Prior					11.461%	11.432%
	Weighted Average Max Rate Current					11.450%	11.424%
	Weighted Average Min Rate Original					6.889%	6.611%
	Weighted Average Min Rate Prior					6.880%	6.649%
	Weighted Average Min Rate Current					6.877%	6.648%
	Weighted Average Cap Up Original					0.768%	0.806%
	Weighted Average Cap Up Prior					0.764%	0.797%
	Weighted Average Cap Up Current					0.762%	0.796%
	Weighted Average Cap Down Original					0.76 8%	0.806%
	Weighted Average Cap Down Prior					0.764%	0.797%
	Weighted Average Cap Down Current					0.762%	0.796%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP II	GROUP I	TOTAL
	Current Servicing Fees					37,286.99	32,733.69	70,020.68
	Delinquent Servicing Fees					94,435.67	99,293.60	193,729.27
	TOTAL SERVIC ING FEES					131,722.66	132,027.29	263,749.95
	Total Servicing Fees					131,722.66	132,027.29	263,749.95
	Compensating Month End Interest					1,601.37	1,232.42	2,833.79
	Delinquent Servicing Fees					(94,435.67)	(99,293.60)	(193,729.27 )
										&nbs p;
	COLLECTED SERVICING FEES					38,888.36	33,966.11	72,854.47
	Prepayment Interest Shortfall					1,601.37	1,232.42	2,833.79
	Total Advanced Interest					1,213,122.52	1,218,648.33	2,431,770.85
					&nb sp;
ADDITIONAL COLLATERAL INFORMATION						GROUP II	GROUP I	TOTAL
	Next One-Month LIBOR							2.180000%
	Current One-Month LIBOR							2.180000%
				Page 10 of 25				© COPYRIGHT 2004 Deutsche Bank
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	Delinquency Report for December 27, 2004 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			43,511,183.18	7,600,713.62	3,650,002.95	54,761,899.75
		% Balance			6.95%	1.21%	0.58%	8.74%
		# Loans			340	62	28	430
		% # Loans			7.37%	1.34%	0.61%	9.32%
FORECLOSURE		Balance		586,679.01	-	-	3,721,237.90	4,307,916.91
		% Balance		0.09%	0.00%	0.00%	0.59%	0.69%
;		# Loans		6	-	-	38	44
		% # Loans		0.13%	0.00%	0.00%	0.82%	0.95%
BANKRUPTCY		Balance		879,982.24	-	109,764.53	659,441.70	1,649,188.47
		% Balance		0.14%	0.00%	0.02%	0.11%	0.26%
		# Loans		9	-	1	5	15
		% # Loans		0.19%	0.00%	0.02%	0.11%	0.32%
REO		Balance		-	-	-	54,940.05	54,940.05
		% Balance		0.00%	0.00%	0.00%	0.01%	0.01%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.02%	0.02%
TOTAL		Balance		1,466,661.25	43,511,183.18	7,710,478.15	8,085,622.60	60,773,945.18
		% Balance		0.23%	6.95%	1.23%	1.29%	9.70%
		# Loans		15	340	63	72	490
		% # Loans		0.32%	7.37%	1.36%	1.56%	10.62%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 11 of 25				© COPYRIGHT 2004 Deutsche Bank
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	Delinquency Report for December 27, 2004 Distribution
	Delinquency Report - Group I Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			18,590,760.70	4,033,633.17	1,002,972.96	23,627,366.83
		% Balance			5.92%	1.28%	0.32%	7.52%
		# Loans			147	28	9	184
		% # Loans			6.39%	1.22%	0.39%	8.00%
FORECLOSURE		Balance		-	-	-	1,883,699.63	1,883,699.63
		% Balance		0.00%	0.00%	0.00%	0.60%	0.60%
		# Loans		-	-	-	17	17
		% # Loans		0.00%	0.00%	0.00%	0.74%	0.74%
BANKRUPTCY		Balance		403,115.86	-	-	423,020.28	826,136.14
		% Balance		0.13%	0.00%	0.00%	0.13%	0.26%
		# Loans		4	-	-	2	6
		% # Loans		0.17%	0.00%	0.00%	0.09%	0.26%
REO		Balance		-	-	-	54,940.05	54,940.05
		% Balance		0.00%	0.00%	0.00%	0.02%	0.02%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.04%	0.04%
TOTAL		Balance		403,115.86	18,590,760.70	4,033,633.17	3,364,632.92	26,392,142.65
		% Balance		0.13%	5.92%	1.28%	1.07%	8.40%
		# Loans		4	147	28	29	208
		% # Loans		0.17%	6.39%	1.22%	1.26%	9.05%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.										& nbsp;
				Page 12 of 25				© COPYRIGHT 2004 Deutsche Bank
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											&nb sp;
	Delinquency Report - Group II Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			24,920,422.48	3,567,080.45	2,647,029.99	31,134,532.92
		% Balance			7.98%	1.14%	0.85%	9.97%
		# Loans			193	34	19	246
		% # Loans			8.33%	1.47%	0.82%	10.62%
FORECLOSURE		Balance		586,679.01	-	-	1,837,538.27	2,424,217.28
		% Balance		0.19%	0.00%	0.00%	0.59%	0.78%
		# Loans		6	-	-	21	27
		% # Loans		0.26%	0.00%	0.00%	0.91%	1.17%
BANKRUPTCY		Balance		476,866.38	-	109,764.53	236,421.42	823,052.33
		% Balance		0.15%	0.00%	0.04%	0.08%	0.26%
		# Loans		5	-	1	3	9
		% # Loans		0.22%	0.00%	0.04%	0.13%	0.39%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		1,063,545.39	24,920,422.48	3,676,844.98	4,720,989.68	34,381,802.5 3
		% Balance		0.34%	7.98%	1.18%	1.51%	11.01%		&nb sp;
		# Loans		11	193	35	43	282
		% # Loans		0.47%	8.33%	1.51%	1.86%	12.17%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Mov ing Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.			&n bsp;
				Page 13 of 25				© COPYRIGHT 2004 Deutsche Bank
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	REO Report for December 27, 2004 Distribution
;	REO Report - Mortgage Loans that Become REO During Current Distribution
									& nbsp;
SUMMARY				LOAN GROUP
Total Loan Count = 1				Loan Group 1 = Group I; REO Book Value = Not Available
Total Original Principal Balance = 55,250.00				Loan Group 2 = Group II; REO Book Value = Not Available
Total Current Balance = 54,940.05
REO Book Value = Not Available
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
458910 1		55,250.00	54,940.05	Mar-10-04	8.500%	MO - 95.00%	360	Mar-05-04
				Page 14 of 25				© COPYRIGHT 2004 Deutsche Bank
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	Foreclosure Report for December 27, 2004 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 16				Loan Group 1 = Group I
Total Original Principal Balance = 1,929,540.00				Loan Group 2 = Group II
Total Current Balance = 1,916,896.77
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
449316 1		60,940.00	60,532.09	Jul-06-04	7.000%	AR - 94.99%	360	Apr-01-04
471862 1		198,900.00	197,704.15	Jun-20-04	6.850%	SC - 90.00%	360	Apr-09-04
474349 1		153,850.00	152,635.70	Aug-01-04	6.600%	VA - 95.00%	360	Mar-31-04
479544 1		101,600.00	100,927.42	Aug-01-04	6.350%	GA - 85.00%	360	Apr-02-04
428225 2		82,000.00	81,418.35	May-01-04	6.700%	LA - 100.00%	360	Mar-18-04
435031 2		86,400.00	85,654.81	Dec-01-04	6.650%	AL - 90.00%	360	Feb-19-04
449831 2		57,150.00	56,806.39	Jul-01-04	7.550%	OK - 92.00%	360	Mar-05-04
450710 2		120,000.00	119,346.99	Jul-05-04	8.650%	GA - 100.00%	360	Mar-02-04
453369 2		88,500.00	88,160.08	Aug-12-04	9.750%	TN - 100.00%	360	Apr-06-04
466366 2		95,200.00	94,498.30	Aug-05-04	6.500%	MA - 80.00%	360	Mar-26-04
466745 2		76,500.00	76,017.06	Dec-01-04	7.300%	OH - 90.00%	360	Mar-17-04
468682 2		220,250.00	218,657.26	Jul-01-04	6.850%	IN - 100.00%	360	Mar-18-04
472089 2		250,750.00	248,904.38	Jun-01-04	6.750%	IL - 85.00%	360	Mar-25-04
484846 2		40,000.00	39,717.73	Aug-01-04	7.750%	TX - 80.00%	360	Apr-22-04
493671 2		213,000.00	211, 817.60	Dec-01-04	6.450%	CA - 100.00%	360	May-14-04
511045 2		84,500.00	84,098.46	Dec-01-04	7.250%	WI - 100.00%	360	May-17-04
				Page 15 of 25				© COPYRIGHT 2004 Deutsche Bank
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	Prepayment Report for December 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP II	GROUP I	TOTAL
	Current
	Number of Paid in Full Loans					22	18	40
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					22	18	40
	Paid in Full Balance					3,467,532.26	2,509,173.83	5,976,706.09
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					23,876.77	18,987.47	42,864.24
	Total Prepayment Amount					3,491,409.03	2,528,161.30	6,019,570.33
	Cumulative
	Number of Paid in Full Loans					64	52	116
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					64	52	116
	Paid in Full Balance					9,638,226.85	7,319,419.04	16,957,645.89
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					849,984.57	1,380,351.54	2,230,336.11
	Total Prepayment Amount					10,488,211.42	8,699,770.58	19,187 ,982.00
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 25				© COPYRIGHT 2004 Deutsche Bank
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	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP II	GROUP I	TOTAL
	SMM					1.11%	0.80%	0.95%
	3 Months Avg SMM					0.86%	0.55%	0.71%
	12 Months Avg SMM
	Avg SMM Since Cut-off					0.57%	0.49%	0.53%
	CPR					12.49%	9.17%	10.84%
	3 Months Avg CPR					9.84%	6.44%	8.15%
	12 Months Avg CPR
	Avg CPR Since Cut-off					6.65%	5.72%	6.19%
	PSA					783.87%	598.39%	693.72%
	3 Months Avg PSA Approximation					705.95%	483.05%	598.03%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					599.98%	537.19%	569.26%
	Group I
	Group II
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 25				© COPYRIGHT 2004 Deutsche Bank
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	Prepayment Report - Voluntary Prepayments
	Group I
	Group II
CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off
					&nbs p;
PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*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)
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period betwe en 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)
Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.
				Page 18 of 25				© COPYRIGHT 2004 Deutsche Bank
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	Prepayment Detail Report for December 27, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 40						Loan Group 1 = Group I
Total Original Principal Balance = 6,015,245.00						Loan Group 2 = Group II
Total Prepayment Amount = 5,976,706.09
Loan Number		;	Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
											;
407608 1			101,920.00	100,809.74	Dec-14-04	7.300%	NC - 85.00%	Paid Off - 360	Nov-24-03
413293 1			110,400.00	109,565.76	Nov-17-04	8.050%	VA - 80.00%	Paid Off - 360	Nov-24-03
422339 1			159,300.00	157,647.32	Dec-01-04	5.900%	LA - 90.00%	Paid Off - 360	Dec-18-03
426180 1			275,000.00	273,271.20	Dec-02-04	7.350%	VA - 100.00%	Paid Off - 360	Feb-23-04
446159 1			149,000.00	148,077.73	Dec-15-04	7.400%	NC - 56.23%	Paid Off - 360	Feb-26-04
449225 1			64,000.00	63,142.17	Nov-30-04	6.850%	OH - 80.00%	Paid Off - 360	Feb-26-04
449639 1			65,250.00	64,784.00	Dec-08-04	5.950%	OH - 90.00%	Paid Off - 360	Mar-03-04
451598 1			68,850.00	68,463.35	Dec-02-04	7.200%	NY - 85.00%	Paid Off - 360	Mar-25-04
453414 1			174,500.00	173,409.55	Nov-17-04	6.650%	MN - 99.71%	Paid Off - 360	Mar-12-04
455493 1			105,000.00	104,243.06	Dec-13-04	5.900%	FL - 66.88%	Paid Off - 360	Mar-10-04
455862 1			106,000.00	105,214.07	Dec-06-04	5.750%	VA - 72.60%	Paid Off - 360	Mar-12-04
458070 1			70,000.00	69,617.1 8	Dec-06-04	7.950%	PA - 100.00%	Paid Off - 360	Mar-08-04
459173 1			288,000.00	286,350.73	Dec-06-04	7.100%	CA - 90.00%	Paid Off - 360	Mar-11-04
469953 1			150,500.00	149,671.25	Dec-15-04	7.300%	NM - 70.00%	Paid Off - 360	Mar-24-04
472143 1			168,750.00	167,719.63	Dec-08-04	5.950%	NV - 75.00%	Paid Off - 360	Apr-12-04
473308 1			193,000.00	191,806.51	Nov-17-04	7.000%	FL - 100.00%	Paid Off - 360	Mar-29-04
480020 1			102,000.00	101,543.17	Dec-14-04	7.550%	DE - 80.00%	Paid Off - 360	Apr-14-04
481853 1			175,000.00	173,837.41	Dec-06-04	5.500%	RI - 77.78%	Paid Off - 360	Apr-08-04
419958 2			68,900.00	68,537.62	Nov-17-04	9.350%	AL - 100.00%	Paid Off - 360	Dec-30-03
422390 2			125,000.00	124,468.36	Nov-16-04	10.950%	OH - 100.00%	Paid Off - 360	Dec-30-03
425413 2			118,750.00	117,843.46	Dec-13-04	7.500%	MI - 95.00%	Paid Off - 360	Dec-31-03
445126 2			160,000.00	159,084.98	Dec-15-04	7.800%	NJ - 80.00%	Paid Off - 360	Feb-23-04
448372 2			155,500.00	154,687.38	Dec-15-04	8.250%	MI - 95.69%	Paid Off - 360	Feb-23-04
448421 2			144,000.00	143,198.79	Dec-09-04	8.300%	GA - 100.00%	Paid Off - 360	Feb-17-04
449713 2			48,300.00	48,015.41	Dec-15-04	7.650%	ME - 70.00%	Paid Off - 360	Mar-02-04
451662 2			299,250.00	297,192.32	Dec-15-04	6.150%	CA - 88.01%	Paid Off - 360	Mar-01-04
452211 2			47,600.00	47,274.87	Nov-30-04	8.900%	CO - 85.00%	Paid Off - 360	Mar-05-04
453150 2			213,300.00	211,695.10	Dec-10-04	7.000%	MD - 90.00%	Paid Off - 360	Feb-20-04
453275 2			133,000.00	132,299.91	Dec-01-04	7.550%	PA - 100.00%	Paid Off - 360	Mar-22-04
453293 2			129,200.00	128,549.15	Dec-15-04	7.750%	MD - 95.00%	Paid Off - 360	Feb-26-04
456286 2			124,100.00	123,423.32	Dec-01-04	7.350%	AL - 95.00%	Paid Off - 360	Mar-12-04
462102 2			248,000.00	245,723.92	Dec-01-04	5.950%	IL - 91.51%	Paid Off - 360	Mar-05-04
464223 2			167,500.00	166,348.25	Nov-30-04	6.150%	WI - 80.53%	Paid Off - 360	Mar-19-04
466061 2			91,000.00	90,423.72	Dec-02-04	6.900%	MA - 52.00%	Paid Off - 360	Mar-26-04
467780 2			178,750.00	177,339.31	Dec-15-04	5.450%	NY - 65.00%	Paid Off - 360	Mar-17-04
473263 2			345,000.00	342,738.06	Nov-17-04	6.400%	UT - 66.35%	Paid Off - 360	Mar-26-04
474815 2			140,000.00	138,638.14	Dec-02-04	5.000%	CA - 77.78%	Paid Off - 360	Mar-26-04
476408 2			71,500.00	71,128.89	Dec-07-04	7.600%	AL - 79.44%	Paid Off - 360	Mar-30-04
477447 2			138,125.00	137,489.18	Dec-14-04	8.200%	MI - 85.00%	Paid Off - 360	Mar-26-04
568333 2			342,000.00	341,432.12	Dec-10-04	6.950%	MD - 90.00%	Paid Off - 360	Aug-27-04
					Page 19 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for December 27, 2004 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP II	GROUP I	TOTAL
	Current
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Cumulative
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
						& nbsp;
	Group I						3 Months Moving Average
	Group II
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 20 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for December 27, 2004 Distribution
	;
	Realized Loss Report - Collateral
DEFAULT SPEEDS						GROUP II	GROUP I	TOTAL
	MDR					0.00%	0.00%	0.00%
	3 Months Avg MDR					0.00%	0.00%	0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%
	CDR					0.00%	0.00%	0.00%
	3 Months Avg CDR					0.00%	0.00%	0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.00%	0.00%
	SDA					0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation					0.00%	0.00%	0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.00%	0.00%
	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off
	Group I
	Group II
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 21 of 25				© COPY RIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for December 27, 2004 Distribution
	Realized Loss Report - Collateral
	Group I
	Group II
CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off
&nbs p;
SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off
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 peri od 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:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month : Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.
				Page 22 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for December 27, 2004 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY							LOAN GROUP
Total Loan Count Current Losses = 0
Total Loan Count Revisions = 0						Loan Group 1 = Group I
Total Prior Principal Balance = 0.00						Loan Group 2 = Group II
Total Current Realized Loss Amount = 0.00
Total Revisions Amount = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
Loan Number			Current	State &		Prior	Realized		Cumulative
&		Loan	Note	LTV at	Original	Principal	Loss/(Gain)	Realized	Realized
Loan Group		Status	Rate	Origination	Term	Balance	Revisions	Loss/(Gain)	Loss/(Gain)
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					Page 23 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifirst Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
										;
	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 27, 2004 Distribution
&nb sp;
	Triggers, Adj. Rate Cert. and Miscellaneous Report
		&nb sp;
TRIGGER EVENTS						GROUP II	GROUP I	TOTAL
	Step Down Date?							No
	Trigger Event Occuring?							No
	Delinquency Percentage							2.727135%
	Beginning Credit Enhancement Percentage							22.959119%
	Ending Credit Enhancement Percentage							23.201502%
ADJUSTABLE RATE CERTIFICATE INFORMATION						GROUP II	GROUP I	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION						GROUP II	GROUP I	TOTAL
SPACE INTENTIONALLY LEFT BLANK
				Page 24 of 25				© COPYRIGHT 2004 Deutsche Bank
	Equifir st Mortgage Loan Trust 2004-2
	Mortgage Pass-Through Certificates
	Additional Certificate Report for December 27, 2004 Distribution
	Additional Certificate Report
			&nbs p;
	CLASS					Net WAC Rate Carryover Amt	Unpaid Realized Loss Amt	Interest Carry Forward Amt
	I-A1					0.00	0.00	0.00
	II-A1					0.00	0.00	0.00
	II-A2					0.00	0.00	0.00
	II-A3					0.00	0.00	0.00
	M-1					0.00	0.00	0.00
	M-2					0.00	0.00	0.00
	M-3					0.00	0.00	0.00
	M-4					0.00	0.00	0.00
	M-5			&n bsp;		0.00	0.00	0.00
	M-6					0.00	0.00	0.00
	M-7					0.00	0.00	0.00
	M-8					0.00	0.00	0.00
	M-9					0.00	0.00	0.00
	B-1					0.00	0.00	0.00
	B-2					0.00	0.00	0.00
	C					0.00	0.00	0.00
	P					0.00	0.00	0.00
				Page 25 of 25				© COPYRIGHT 2004 Deutsche Bank