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): April 26, 2004
AEGIS ASSET BACKED SECURITIES TRUST
Mortgage Pass-Through Certificates, Series 2004-1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-110187-01 54-2142310
Pooling and Servicing Agreement) (Commission 54-2142311
(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)
ITEM 5. Other Events
On April 26, 2004 a distribution was made to holders of AEGIS ASSET BACKED
SECURITIES TRUST, Mortgage Pass-Through Certificates, Series 2004-1 Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Mortgage Pass-Through Certificates,
Series 2004-1 Trust, relating to the
April 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.
AEGIS ASSET BACKED SECURITIES TRUST
Mortgage Pass-Through Certificates, Series 2004-1 Trust
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 4/30/04
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2004-1 Trust,
relating to the April 26, 2004 distribution.
EX-99.1
AEGIS Asset Backed Securities Trust
Mortgage Pass-Through Certificates
Record Date: 3/31/04
Distribution Date: 4/26/04
AEGIS Series: 2004-1
Contact: CTSLink Customer Service
Wells Fargo Bank, N.A.
Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
Telephone: (301) 815-6600
Fax: (301) 815-6600
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<s> <c> <c> <c> <c> <c> <c>
A 00764MBC0 SEN 1.44000% 384,698,362.90 492,413.90 9,028,166.22
M1 00764MBD8 MEZ 1.77000% 35,000,000.00 55,066.67 0.00
M2 00764MBE6 MEZ 2.44000% 28,750,000.00 62,355.56 0.00
M3 00764MBF3 MEZ 2.64000% 7,500,000.00 17,600.00 0.00
B1 00764MBG1 SUB 2.94000% 8,750,000.00 22,866.67 0.00
B2 00764MBH9 SUB 3.09000% 7,500,000.00 20,600.00 0.00
B3 00764MBJ5 SUB 5.09000% 7,500,000.00 33,933.33 0.00
X AEG04001X SEN 0.00000% 12,500,315.16 2,280,585.28 0.00
P AEG04001P SEN 0.00000% 100.00 123,117.78 0.00
R AEG0401R1 SEN 0.00000% 0.00 0.00 0.00
Totals 492,198,778.06 3,108,539.19 9,028,166.22
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A 0.00 375,670,196.68 9,520,580.12 0.00
M1 0.00 35,000,000.00 55,066.67 0.00
M2 0.00 28,750,000.00 62,355.56 0.00
M3 0.00 7,500,000.00 17,600.00 0.00
B1 0.00 8,750,000.00 22,866.67 0.00
B2 0.00 7,500,000.00 20,600.00 0.00
B3 0.00 7,500,000.00 33,933.33 0.00
X 0.00 12,500,315.16 2,280,585.28 0.00
P 0.00 100.00 123,117.78 0.00
R 0.00 0.00 0.00 0.00
Totals 0.00 483,170,611.84 12,136,705.41 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
A 392,500,000.00 384,698,362.90 0.00 9,028,166.22 0.00 0.00
M1 35,000,000.00 35,000,000.00 0.00 0.00 0.00 0.00
M2 28,750,000.00 28,750,000.00 0.00 0.00 0.00 0.00
M3 7,500,000.00 7,500,000.00 0.00 0.00 0.00 0.00
B1 8,750,000.00 8,750,000.00 0.00 0.00 0.00 0.00
B2 7,500,000.00 7,500,000.00 0.00 0.00 0.00 0.00
B3 7,500,000.00 7,500,000.00 0.00 0.00 0.00 0.00
X 12,512,506.31 12,500,315.16 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 500,012,606.31 492,198,778.06 0.00 9,028,166.22 0.00 0.00
<FN>
(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.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
A 9,028,166.22 375,670,196.68 0.95712152 9,028,166.22
M1 0.00 35,000,000.00 1.00000000 0.00
M2 0.00 28,750,000.00 1.00000000 0.00
M3 0.00 7,500,000.00 1.00000000 0.00
B1 0.00 8,750,000.00 1.00000000 0.00
B2 0.00 7,500,000.00 1.00000000 0.00
B3 0.00 7,500,000.00 1.00000000 0.00
X 0.00 12,500,315.16 0.99902568 0.00
P 0.00 100.00 1.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 9,028,166.22 483,170,611.84 0.96631686 9,028,166.22
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
A 392,500,000.00 980.12321758 0.00000000 23.00169738 0.00000000
M1 35,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M2 28,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M3 7,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B1 8,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B2 7,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B3 7,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
X 12,512,506.31 999.02568281 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
<FN>
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A 0.00000000 23.00169738 957.12152020 0.95712152 23.00169738
M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
X 0.00000000 0.00000000 999.02568281 0.99902568 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
<FN>
(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.
</FN>
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
<s> <c> <c> <c> <c> <c> <c>
A 392,500,000.00 1.44000% 384,698,362.90 492,413.90 0.00 0.00
M1 35,000,000.00 1.77000% 35,000,000.00 55,066.67 0.00 0.00
M2 28,750,000.00 2.44000% 28,750,000.00 62,355.56 0.00 0.00
M3 7,500,000.00 2.64000% 7,500,000.00 17,600.00 0.00 0.00
B1 8,750,000.00 2.94000% 8,750,000.00 22,866.67 0.00 0.00
B2 7,500,000.00 3.09000% 7,500,000.00 20,600.00 0.00 0.00
B3 7,500,000.00 5.09000% 7,500,000.00 33,933.33 0.00 0.00
X 12,512,506.31 0.00000% 12,500,315.16 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 500,012,606.31 704,836.13 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
<s> <c> <c> <c> <c> <c>
A 0.00 0.00 492,413.90 0.00 375,670,196.68
M1 0.00 0.00 55,066.67 0.00 35,000,000.00
M2 0.00 0.00 62,355.56 0.00 28,750,000.00
M3 0.00 0.00 17,600.00 0.00 7,500,000.00
B1 0.00 0.00 22,866.67 0.00 8,750,000.00
B2 0.00 0.00 20,600.00 0.00 7,500,000.00
B3 0.00 0.00 33,933.33 0.00 7,500,000.00
X 0.00 0.00 2,280,585.28 0.00 12,500,315.16
P 0.00 0.00 123,117.78 0.00 100.00
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 3,108,539.19 0.00
<FN>
(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.
</FN>
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
<s> <c> <c> <c> <c> <c> <c>
A 392,500,000.00 1.44000% 980.12321758 1.25455771 0.00000000 0.00000000
M1 35,000,000.00 1.77000% 1000.00000000 1.57333343 0.00000000 0.00000000
M2 28,750,000.00 2.44000% 1000.00000000 2.16888904 0.00000000 0.00000000
M3 7,500,000.00 2.64000% 1000.00000000 2.34666667 0.00000000 0.00000000
B1 8,750,000.00 2.94000% 1000.00000000 2.61333371 0.00000000 0.00000000
B2 7,500,000.00 3.09000% 1000.00000000 2.74666667 0.00000000 0.00000000
B3 7,500,000.00 5.09000% 1000.00000000 4.52444400 0.00000000 0.00000000
X 12,512,506.31 0.00000% 999.02568281 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
<FN>
(5) Per $1 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A 0.00000000 0.00000000 1.25455771 0.00000000 957.12152020
M1 0.00000000 0.00000000 1.57333343 0.00000000 1000.00000000
M2 0.00000000 0.00000000 2.16888904 0.00000000 1000.00000000
M3 0.00000000 0.00000000 2.34666667 0.00000000 1000.00000000
B1 0.00000000 0.00000000 2.61333371 0.00000000 1000.00000000
B2 0.00000000 0.00000000 2.74666667 0.00000000 1000.00000000
B3 0.00000000 0.00000000 4.52444400 0.00000000 1000.00000000
X 0.00000000 0.00000000 182.26446593 0.00000000 999.02568281
P 0.00000000 0.00000000 1231177.80000000 0.00000000 1000.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(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.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 12,208,751.98
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 38,899.89
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 123,117.78
Total Deposits 12,370,769.65
Withdrawals
Reimbursement for Servicer Advances 18,788.88
Payment of Service Fee 215,275.36
Payment of Interest and Principal 12,136,705.41
Total Withdrawals (Pool Distribution Amount) 12,370,769.65
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
<s> <c>
Gross Servicing Fee 205,082.75
Credit Risk Manager Fee 6,152.48
Trustee Fee 4,040.13
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 215,275.36
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 1,000.00 0.50 0.50 1,000.00
Financial Guaranty 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
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 2 0 0 2
120,679.15 0.00 0.00 120,679.15
30 Days 27 0 0 0 27
4,101,609.94 0.00 0.00 0.00 4,101,609.94
60 Days 0 0 3 0 3
0.00 0.00 372,203.56 0.00 372,203.56
90 Days 1 0 5 0 6
40,485.17 0.00 860,915.88 0.00 901,401.05
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 28 2 8 0 38
4,142,095.11 120,679.15 1,233,119.44 0.00 5,495,893.70
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 0.054259% 0.000000% 0.000000% 0.054259%
0.024977% 0.000000% 0.000000% 0.024977%
30 Days 0.732501% 0.000000% 0.000000% 0.000000% 0.732501%
0.848895% 0.000000% 0.000000% 0.000000% 0.848895%
60 Days 0.000000% 0.000000% 0.081389% 0.000000% 0.081389%
0.000000% 0.000000% 0.077034% 0.000000% 0.077034%
90 Days 0.027130% 0.000000% 0.135648% 0.000000% 0.162778%
0.008379% 0.000000% 0.178181% 0.000000% 0.186560%
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 0.759631% 0.054259% 0.217037% 0.000000% 1.030928%
0.857274% 0.024977% 0.255214% 0.000000% 1.137465%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 38,899.89
COLLATERAL STATEMENT
Collateral Description Fixed Mixed & ARM & Balloon
Weighted Average Gross Coupon 7.788230%
Weighted Average Net Coupon 7.288231%
Weighted Average Pass-Through Rate 7.278575%
Weighted Average Maturity(Stepdown Calculation ) 345
Beginning Scheduled Collateral Loan Count 3,736
Number Of Loans Paid In Full 50
Ending Scheduled Collateral Loan Count 3,686
Beginning Scheduled Collateral Balance 492,198,678.06
Ending Scheduled Collateral Balance 483,170,511.84
Ending Actual Collateral Balance at 31-Mar-2004 483,170,511.84
Monthly P &I Constant 3,615,265.24
Special Servicing Fee 0.00
Prepayment Penalties 123,117.78
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 483,170,511.84
Scheduled Principal 420,801.28
Unscheduled Principal 8,607,364.94
Miscellaneous Reporting
LIBOR Index Rate 1.090000%
Overcollateralization Deficiency Amount 0.00
Overcollateralization Release Amount 0.00
Target Overcollateralization Amount 12,500,315.16