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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 16, 2004
Financial Asset Securities Corp.
(as depositor under the Pooling and Servicing Agreement,
dated as of November 15, 2004, providing for the issuance of
Mortgage Pass-Through Certificates, Series 2004-3)
FINANCIAL ASSET SECURITIES CORP.
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(Exact name of registrant as specified in its charter)
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Delaware 333-108195 06-1442101
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
600 Steamboat Road,
Greenwich, Connecticut 06830
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (203) 625-2700
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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))
Section 2 - Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets
Item 2. Acquisition or Disposition of Assets
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Description of the Certificates and the Mortgage Pools
On November 30, 2004, a single series of certificates, entitled
EquiFirst Mortgage Loan Trust, Series 2004-3, Mortgage Pass-Through Certificates
(the "Certificates"), was issued pursuant to a pooling and servicing agreement,
dated as of November 15, 2004 (the "Agreement"), attached hereto as Exhibit 4.1,
among Financial Asset Securities Corp. as depositor (the "Depositor"), Ocwen
Federal Bank FSB as servicer ("Ocwen") and Deutsche Bank National Trust Company
as trustee. The Certificates consist of seventeen classes of certificates
(collectively, the "Certificates"), designated as the "Class A-1 Certificates,"
the "Class A-2 Certificates," the "Class A-3 Certificates," the "Class M-1
Certificates," the "Class M-2 Certificates," the "Class M-3 Certificates," the
"Class M-4 Certificates," the "Class M-5 Certificates," the "Class M-6
Certificates," "Class M-7 Certificates," the "Class M-8 Certificates," the
"Class M-9 Certificates," the "Class M-10 Certificates," the "Class B-1
Certificates," the "Class B-2 Certificates" the "Class R Certificates" and the
"Class R-X Certificates." The Certificates 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, adjustable-rate, interest-only and balloon mortgage loans secured
by first liens on residential real properties having original terms to maturity
not greater than 30 years (the "Mortgage Loans"). The Mortgage Pool consists of
Mortgage Loans having an aggregate principal balance of $469,191,024 as of
November 15, 2004 (the "Cut-off Date"). The Mortgage Loans were purchased
pursuant to the Mortgage Loan Purchase Agreement, dated November 24, 2004, among
EquiFirst Corporation, Greenwich Capital Financial Products, Inc. and Financial
Asset Securities Corp. "Class A-1 Certificates," the "Class A-2 Certificates,"
the "Class A-3 Certificates," the "Class M-1 Certificates," the "Class M-2
Certificates," the "Class M-3 Certificates," the "Class M-4 Certificates," the
"Class M-5 Certificates," the "Class M-6 Certificates," "Class M-7
Certificates," the "Class M-8 Certificates," the "Class M-9 Certificates" and
the "Class M-10 Certificates" (together, the
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"Offered Certificates") were sold by the Depositor to Greenwich Capital Markets,
Inc., Morgan Keegan & Company, Inc. and Sandler O'Neill & Partners, L.P. (the
"Underwriters"), an affiliate of the Depositor, pursuant to an Underwriting
Agreement, dated November 24, 2004, between the Depositor and the Underwriter.
The Offered Certificates, and the Mortgage Loans are more particularly
described in the Prospectus Supplement, dated November 24, 2004, and the
Prospectus, dated April 23, 2004, as previously filed with the Securities and
Exchange Commission pursuant to Rule 424(b). The "Class B-1 Certificates," the
"Class B-2 Certificates," and the "Class R Certificates" have not been and will
not be publicly offered by the Depositor. Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to them in the
Prospectus Supplement.
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Initial Certificate Principal
Class Balance or Notional Amount Pass-Through Rate
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A-1 $125,000,000 Variable
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A-2 $191,000,000 Variable
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A-3 $ 27,210,000 Variable
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M-1 $ 27,917,000 Variable
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M-2 $ 9,149,000 Variable
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M-3 $ 14,076,000 Variable
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M-4 $ 8,211,000 Variable
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M-5 $ 8,211,000 Variable
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M-6 $ 8,211,000 Variable
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M-7 $ 8,211,000 Variable
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M-8 $ 8,211,000 Variable
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M-9 $ 7,038,000 Variable
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M-10 $ 4,223,000 Variable
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R $100 --
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Section 9 - Financial Statements and Exhibits
Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) Not applicable
(b) Not applicable
(c) Exhibits:
Exhibit No. Description
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4.1 Pooling and Servicing Agreement, dated as of
November 15, 2004, among Financial Asset
Securities Corp. as depositor, Ocwen Federal
Bank FSB as servicer and Deutsche Bank
National Trust Company as trustee relating
to the Series 2004-3 Certificates
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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 by the
undersigned thereunto duly authorized.
Dated: December 14, 2004
Financial Asset Securities Corp.
By: /s/ Frank Skibo
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Name: Frank Skibo
Title: Managing Director
Index to Exhibits
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Exhibit No. Description
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4.1 Pooling and Servicing Agreement, dated as of November 15,
2004, among Financial Asset Securities Corp. as depositor,
Ocwen Federal Bank FSB as servicer and Deutsche Bank
National Trust Company as trustee relating to the Series
2004-3 Certificates
Exhibit 4.1