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): June 25, 2004
FIRST FRANKLIN MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2004-FF2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-111379-07 54-2151948
Pooling and Servicing Agreement) (Commission 54-2151947
(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 June 25, 2004 a distribution was made to holders of FIRST FRANKLIN MORTGAGE
LOAN TRUST, Asset Backed Certificates, Series 2004-FF2 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
Asset Backed Certificates, Series
2004-FF2 Trust, relating to the June 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.
FIRST FRANKLIN MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2004-FF2 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: 6/30/04
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Certificates, Series 2004-FF2 Trust, relating to the
June 25, 2004 distribution.
EX-99.1
First Franklin Mortgage Loan Trust
Mortgage Pass-Through Certificates
Record Date: 5/31/04
Distribution Date: 6/25/04
FFM Series: 2004-FF2
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
<s> <c> <c> <c> <c> <c> <c>
A-1 32027NHB0 SEN 1.32000% 309,647,392.71 351,965.87 6,163,780.61
A-2 32027NHC8 SEN 1.19000% 118,079,398.85 120,998.58 4,605,035.08
A-3 32027NHD6 SEN 1.30000% 184,000,000.00 205,977.78 0.00
A-4 32027NHE4 SEN 1.47000% 30,836,000.00 39,033.24 0.00
A-5 32027NHF1 SEN 1.18000% 23,615,879.77 23,996.36 921,007.02
A-6 32027NHG9 SEN 1.32000% 49,028,555.66 55,729.12 799,769.05
M-1 32027NHH7 MEZ 1.55000% 26,374,000.00 35,201.96 0.00
M-2 32027NHJ3 MEZ 1.60000% 24,176,000.00 33,309.16 0.00
M-3 32027NHK0 MEZ 1.65000% 15,385,000.00 21,859.52 0.00
M-4 32027NHL8 MEZ 2.00000% 10,989,000.00 18,925.50 0.00
M-5 32027NHM6 MEZ 2.10000% 15,385,000.00 27,821.21 0.00
M-6 32027NHN4 MEZ 2.35000% 9,670,000.00 19,568.32 0.00
M-7 32027NHP9 MEZ 2.77500% 12,308,000.00 29,410.99 0.00
M-8 32027NHQ7 MEZ 2.90000% 9,670,000.00 24,148.14 0.00
M-9 32027NHR5 MEZ 4.00000% 8,791,000.00 30,280.11 0.00
B 32027NHS3 SUB 4.60000% 10,549,000.00 41,785.76 0.00
C FFM04FF2C SEN 0.00000% 6,153,851.87 3,479,867.53 0.00
P FFM04FF2P SEN 0.00000% 100.00 213,112.76 0.00
R 32027NHT1 RES 0.00000% 0.00 0.00 0.00
Totals 864,658,178.86 4,772,991.91 12,489,591.76
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 303,483,612.10 6,515,746.48 0.00
A-2 0.00 113,474,363.77 4,726,033.66 0.00
A-3 0.00 184,000,000.00 205,977.78 0.00
A-4 0.00 30,836,000.00 39,033.24 0.00
A-5 0.00 22,694,872.75 945,003.38 0.00
A-6 0.00 48,228,786.61 855,498.17 0.00
M-1 0.00 26,374,000.00 35,201.96 0.00
M-2 0.00 24,176,000.00 33,309.16 0.00
M-3 0.00 15,385,000.00 21,859.52 0.00
M-4 0.00 10,989,000.00 18,925.50 0.00
M-5 0.00 15,385,000.00 27,821.21 0.00
M-6 0.00 9,670,000.00 19,568.32 0.00
M-7 0.00 12,308,000.00 29,410.99 0.00
M-8 0.00 9,670,000.00 24,148.14 0.00
M-9 0.00 8,791,000.00 30,280.11 0.00
B 0.00 10,549,000.00 41,785.76 0.00
C 0.00 6,153,851.87 3,479,867.53 0.00
P 0.00 100.00 213,112.76 0.00
R 0.00 0.00 0.00 0.00
Totals 0.00 852,168,587.10 17,262,583.67 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-1 314,835,000.00 309,647,392.71 147,922.30 6,015,858.31 0.00 0.00
A-2 125,000,000.00 118,079,398.85 103,169.74 4,501,865.33 0.00 0.00
A-3 184,000,000.00 184,000,000.00 0.00 0.00 0.00 0.00
A-4 30,836,000.00 30,836,000.00 0.00 0.00 0.00 0.00
A-5 25,000,000.00 23,615,879.77 20,633.95 900,373.07 0.00 0.00
A-6 50,000,000.00 49,028,555.66 17,854.45 781,914.60 0.00 0.00
M-1 26,374,000.00 26,374,000.00 0.00 0.00 0.00 0.00
M-2 24,176,000.00 24,176,000.00 0.00 0.00 0.00 0.00
M-3 15,385,000.00 15,385,000.00 0.00 0.00 0.00 0.00
M-4 10,989,000.00 10,989,000.00 0.00 0.00 0.00 0.00
M-5 15,385,000.00 15,385,000.00 0.00 0.00 0.00 0.00
M-6 9,670,000.00 9,670,000.00 0.00 0.00 0.00 0.00
M-7 12,308,000.00 12,308,000.00 0.00 0.00 0.00 0.00
M-8 9,670,000.00 9,670,000.00 0.00 0.00 0.00 0.00
M-9 8,791,000.00 8,791,000.00 0.00 0.00 0.00 0.00
B 10,549,000.00 10,549,000.00 0.00 0.00 0.00 0.00
C 6,153,595.34 6,153,851.87 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 879,121,695.34 864,658,178.86 289,580.44 12,200,011.31 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-1 6,163,780.61 303,483,612.10 0.96394496 6,163,780.61
A-2 4,605,035.08 113,474,363.77 0.90779491 4,605,035.08
A-3 0.00 184,000,000.00 1.00000000 0.00
A-4 0.00 30,836,000.00 1.00000000 0.00
A-5 921,007.02 22,694,872.75 0.90779491 921,007.02
A-6 799,769.05 48,228,786.61 0.96457573 799,769.05
M-1 0.00 26,374,000.00 1.00000000 0.00
M-2 0.00 24,176,000.00 1.00000000 0.00
M-3 0.00 15,385,000.00 1.00000000 0.00
M-4 0.00 10,989,000.00 1.00000000 0.00
M-5 0.00 15,385,000.00 1.00000000 0.00
M-6 0.00 9,670,000.00 1.00000000 0.00
M-7 0.00 12,308,000.00 1.00000000 0.00
M-8 0.00 9,670,000.00 1.00000000 0.00
M-9 0.00 8,791,000.00 1.00000000 0.00
B 0.00 10,549,000.00 1.00000000 0.00
C 0.00 6,153,851.87 1.00004169 0.00
P 0.00 100.00 1.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 12,489,591.76 852,168,587.10 0.96934087 12,489,591.76
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-1 314,835,000.00 983.52277450 0.46984071 19.10797183 0.00000000
A-2 125,000,000.00 944.63519080 0.82535792 36.01492264 0.00000000
A-3 184,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4 30,836,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5 25,000,000.00 944.63519080 0.82535800 36.01492280 0.00000000
A-6 50,000,000.00 980.57111320 0.35708900 15.63829200 0.00000000
M-1 26,374,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 24,176,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 15,385,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 10,989,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 15,385,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 9,670,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-7 12,308,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-8 9,670,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-9 8,791,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 10,549,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
C 6,153,595.34 1000.04168782 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>
(2) All Clases are per $1,000 denomination
</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-1 0.00000000 19.57781254 963.94496196 0.96394496 19.57781254
A-2 0.00000000 36.84028064 907.79491016 0.90779491 36.84028064
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-5 0.00000000 36.84028080 907.79491000 0.90779491 36.84028080
A-6 0.00000000 15.99538100 964.57573220 0.96457573 15.99538100
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
M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
C 0.00000000 0.00000000 1,000.04168782 1.00004169 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-1 314,835,000.00 1.32000% 309,647,392.71 351,965.87 0.00 0.00
A-2 125,000,000.00 1.19000% 118,079,398.85 120,998.58 0.00 0.00
A-3 184,000,000.00 1.30000% 184,000,000.00 205,977.78 0.00 0.00
A-4 30,836,000.00 1.47000% 30,836,000.00 39,033.24 0.00 0.00
A-5 25,000,000.00 1.18000% 23,615,879.77 23,996.36 0.00 0.00
A-6 50,000,000.00 1.32000% 49,028,555.66 55,729.12 0.00 0.00
M-1 26,374,000.00 1.55000% 26,374,000.00 35,201.96 0.00 0.00
M-2 24,176,000.00 1.60000% 24,176,000.00 33,309.16 0.00 0.00
M-3 15,385,000.00 1.65000% 15,385,000.00 21,859.52 0.00 0.00
M-4 10,989,000.00 2.00000% 10,989,000.00 18,925.50 0.00 0.00
M-5 15,385,000.00 2.10000% 15,385,000.00 27,821.21 0.00 0.00
M-6 9,670,000.00 2.35000% 9,670,000.00 19,568.32 0.00 0.00
M-7 12,308,000.00 2.77500% 12,308,000.00 29,410.99 0.00 0.00
M-8 9,670,000.00 2.90000% 9,670,000.00 24,148.14 0.00 0.00
M-9 8,791,000.00 4.00000% 8,791,000.00 30,280.11 0.00 0.00
B 10,549,000.00 4.60000% 10,549,000.00 41,785.76 0.00 0.00
C 6,153,595.34 0.00000% 6,153,851.87 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 879,121,695.34 1,080,011.62 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-1 0.00 0.00 351,965.87 0.00 303,483,612.10
A-2 0.00 0.00 120,998.58 0.00 113,474,363.77
A-3 0.00 0.00 205,977.78 0.00 184,000,000.00
A-4 0.00 0.00 39,033.24 0.00 30,836,000.00
A-5 0.00 0.00 23,996.36 0.00 22,694,872.75
A-6 0.00 0.00 55,729.12 0.00 48,228,786.61
M-1 0.00 0.00 35,201.96 0.00 26,374,000.00
M-2 0.00 0.00 33,309.16 0.00 24,176,000.00
M-3 0.00 0.00 21,859.52 0.00 15,385,000.00
M-4 0.00 0.00 18,925.50 0.00 10,989,000.00
M-5 0.00 0.00 27,821.21 0.00 15,385,000.00
M-6 0.00 0.00 19,568.32 0.00 9,670,000.00
M-7 0.00 0.00 29,410.99 0.00 12,308,000.00
M-8 0.00 0.00 24,148.14 0.00 9,670,000.00
M-9 0.00 0.00 30,280.11 0.00 8,791,000.00
B 0.00 0.00 41,785.76 0.00 10,549,000.00
C 0.00 0.00 3,479,867.53 0.00 6,153,851.87
P 0.00 0.00 213,112.76 0.00 100.00
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 4,772,991.91 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-1 314,835,000.00 1.32000% 983.52277450 1.11793755 0.00000000 0.00000000
A-2 125,000,000.00 1.19000% 944.63519080 0.96798864 0.00000000 0.00000000
A-3 184,000,000.00 1.30000% 1000.00000000 1.11944446 0.00000000 0.00000000
A-4 30,836,000.00 1.47000% 1000.00000000 1.26583344 0.00000000 0.00000000
A-5 25,000,000.00 1.18000% 944.63519080 0.95985440 0.00000000 0.00000000
A-6 50,000,000.00 1.32000% 980.57111320 1.11458240 0.00000000 0.00000000
M-1 26,374,000.00 1.55000% 1000.00000000 1.33472207 0.00000000 0.00000000
M-2 24,176,000.00 1.60000% 1000.00000000 1.37777796 0.00000000 0.00000000
M-3 15,385,000.00 1.65000% 1000.00000000 1.42083328 0.00000000 0.00000000
M-4 10,989,000.00 2.00000% 1000.00000000 1.72222222 0.00000000 0.00000000
M-5 15,385,000.00 2.10000% 1000.00000000 1.80833344 0.00000000 0.00000000
M-6 9,670,000.00 2.35000% 1000.00000000 2.02361117 0.00000000 0.00000000
M-7 12,308,000.00 2.77500% 1000.00000000 2.38958320 0.00000000 0.00000000
M-8 9,670,000.00 2.90000% 1000.00000000 2.49722234 0.00000000 0.00000000
M-9 8,791,000.00 4.00000% 1000.00000000 3.44444432 0.00000000 0.00000000
B 10,549,000.00 4.60000% 1000.00000000 3.96111101 0.00000000 0.00000000
C 6,153,595.34 0.00000% 1000.04168782 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-1 0.00000000 0.00000000 1.11793755 0.00000000 963.94496196
A-2 0.00000000 0.00000000 0.96798864 0.00000000 907.79491016
A-3 0.00000000 0.00000000 1.11944446 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 1.26583344 0.00000000 1000.00000000
A-5 0.00000000 0.00000000 0.95985440 0.00000000 907.79491000
A-6 0.00000000 0.00000000 1.11458240 0.00000000 964.57573220
M-1 0.00000000 0.00000000 1.33472207 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 1.37777796 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 1.42083328 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 1.72222222 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 1.80833344 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 2.02361117 0.00000000 1000.00000000
M-7 0.00000000 0.00000000 2.38958320 0.00000000 1000.00000000
M-8 0.00000000 0.00000000 2.49722234 0.00000000 1000.00000000
M-9 0.00000000 0.00000000 3.44444432 0.00000000 1000.00000000
B 0.00000000 0.00000000 3.96111101 0.00000000 1000.00000000
C 0.00000000 0.00000000 565.50152191 0.00000000 1000.04168782
P 0.00000000 0.00000000 2131127.60000000 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 17,413,708.33
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 213,112.76
Total Deposits 17,626,821.09
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 364,237.42
Payment of Interest and Principal 17,262,583.67
Total Withdrawals (Pool Distribution Amount) 17,626,821.09
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 360,274.36
Trustee Fee 3,963.06
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 364,237.42
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 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 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
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 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 6.834125%
Weighted Average Net Coupon 6.334125%
Weighted Average Pass-Through Rate 6.328625%
Weighted Average Maturity(Stepdown Calculation) 353
Beginning Scheduled Collateral Loan Count 4,233
Number Of Loans Paid In Full 59
Ending Scheduled Collateral Loan Count 4,174
Beginning Scheduled Collateral Balance 864,658,178.86
Ending Scheduled Collateral Balance 852,168,587.11
Ending Actual Collateral Balance at 31-May-2004 852,168,587.11
Monthly P &I Constant 5,213,898.81
Special Servicing Fee 0.00
Prepayment Penalties 213,112.76
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 852,168,587.11
Scheduled Principal 289,580.44
Unscheduled Principal 12,200,011.31
Miscellaneous Reporting
Overcollaterized Deficiency Amount 0.00
Overcollaterized Increase Amount 0.00
Overcollaterized Reduction Amount 0.00
Overcollaterized Amount 6,153,851.87
Specified Overcollaterized Amount 6,153,851.87
Stepdown Date Not in Stepdown
Trigger Event Not in Trigger