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 15, 2004
Financial Asset Securities Corp.
(Exact name of registrant as specified in its charter)
Delaware 333-111379 06-1442101
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.)
of incorporation)
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 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))
SECTION 2 - COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
On June 30, 2004, a single series of certificates, entitled Equifirst
Mortgage Loan Trust 2004-2, Asset-Backed Certificates, Series 2004-2 (the
"Certificates"), were issued pursuant to a pooling and servicing agreement,
dated as of June 15, 2004 (the "Agreement"), among Financial Asset Securities
Corp. (the "Depositor"), Saxon Mortgage Services, Inc., as servicer ("Saxon")
and Deutsche Bank National Trust Company (the "Trustee").
On September 30, 2004, following the closing of the initial issuance of
the Certificates, the Trustee purchased from the Depositor certain Subsequent
Mortgage Loans, as defined in the Agreement, with an aggregate Stated Principal
Balance equal to $109,196,690.09 with funds on deposit in the pre-funding
accounts (the "Group I Pre-Funding Account" and the "Group II Pre-Funding
Account"; together the "Pre-Funding Accounts") established pursuant to the
Agreement at a purchase price equal to the Stated Principal Balance thereof,
which Subsequent Mortgage Loans were conveyed to the Trustee pursuant to a
Subsequent Transfer Instrument, dated September 30, 2004 (the "Instrument"),
between the Depositor and the Trustee. Attached to the Instrument is the
Mortgage Loan Schedule listing the Subsequent Mortgage Loans that are the
subject of such Instrument.
SECTION 8 - OTHER EVENTS
ITEM 8.01. OTHER EVENTS
Description of the Mortgage Pool
The Certificates, issued pursuant to the Agreement, evidence in the
aggregate the entire beneficial ownership interest in a trust fund (the "Trust
Fund"), consisting primarily of a segregated pool (the "Mortgage Pool") of
conventional, one- to four- family, first lien, adjustable-rate and fixed-rate
mortgage loans having original terms to maturity of not greater than 30 years
(the "Mortgage Loans"). After the Subsequent Transfer Date, the Trust Fund
primarily consisted of the Mortgage Pool, which consisted of Group I Mortgage
Loans having an aggregate Stated Principal Balance of approximately
$324,377,030, and Group II Mortgage Loans having an aggregate Stated Principal
Balance of approximately $324,422,315.
The tables attached as an exhibit hereto describe certain characteristics
of the Mortgage Pool as of the respective applicable Subsequent Cut-off Date.
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SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Not applicable
(b) Not applicable
(c) Exhibits
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Exhibit No. Description
- ----------- ------------
4.2 Subsequent Transfer Instrument, dated as September
30, 2004 between Financial Asset Securities Corp.
as seller and Deutsche Bank National Trust
Company, as trustee.
99.1 Characteristics of the Mortgage Pool as of the
Subsequent Cut-off Date relating to Equifirst
Mortgage Loan Trust 2004-2, Asset-Backed
Certificates, Series 2004-2.
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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 the
undersigned thereunto duly authorized.
Dated: October 18, 2004
----------------
FINANCIAL ASSET SECURITIES CORP.
By: /s/ Frank Skibo
-------------------
Name: Frank Skibo
Title: Senior Vice President
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Index to Exhibits
-----------------
Sequentially
Exhibit No. Description Numbered Page
----------- ----------- -------------
4.2 Subsequent Transfer Instrument, dated
as September 30, 2004, between
Financial Asset Securities Corp. as
seller and Deutsche Bank National
Trust Company as trustee.
99.1 Characteristics of the Mortgage Pool
as of the Subsequent Cut-off Date,
relating to Equifirst Mortgage Loan
Trust 2004-2, Asset-Backed
Certificates, Series 2004-2.
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