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): July 26, 2004
BANC OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2004-B Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-105940-24 54-2141436
Pooling and Servicing Agreement) (Commission 54-2144737
(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 July 26, 2004 a distribution was made to holders of BANC OF AMERICA
MORTGAGE SECURITIES, INC., Mortgage Pass-Through Certificates, Series 2004-B
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-B Trust, relating to the
July 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.
BANC OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2004-B 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: 7/28/04
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2004-B Trust,
relating to the July 26, 2004 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 6/30/04
Distribution Date: 7/26/04
BAM Series: 2004-B
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>
1-A-1 05948X2Y6 SEN 3.44631% 43,772,416.51 125,711.11 1,354,540.51
1-A-R 05948X2Z3 SEN 3.50323% 0.00 0.00 0.00
1-A-LR 05948X3A7 SEN 3.50323% 0.00 0.27 0.00
2-A-1 05948X3B5 SEN 3.58014% 82,994,474.15 247,610.08 1,134,769.87
2-A-2 05948X3C3 SEN 4.15814% 437,925,565.51 1,517,464.29 5,987,684.60
B-1 05948X3D1 SUB 4.00870% 9,461,905.65 31,608.29 5,141.06
B-2 05948X3E9 SUB 4.00870% 4,205,513.17 14,048.87 2,285.04
B-3 05948X3F6 SUB 4.00870% 2,803,342.79 9,364.80 1,523.18
B-4 05948X2S9 SUB 4.00870% 1,401,172.40 4,680.73 761.32
B-5 05948X2T7 SUB 4.00870% 1,050,879.30 3,510.55 570.99
B-6 05948X2U4 SUB 4.00870% 1,402,613.49 4,685.55 762.10
1-IO 05948X2W0 SEN 0.63900% 0.00 24,310.45 0.00
2-IO 05948X2X8 SEN 0.31909% 0.00 143,420.60 0.00
SES 05948X2V2 SEN 0.00000% 0.00 103,807.51 0.00
Totals 585,017,882.97 2,230,223.10 8,488,038.67
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-A-1 0.00 42,417,876.00 1,480,251.62 0.00
1-A-R 0.00 0.00 0.00 0.00
1-A-LR 0.00 0.00 0.27 0.00
2-A-1 0.00 81,859,704.28 1,382,379.95 0.00
2-A-2 0.00 431,937,880.91 7,505,148.89 0.00
B-1 0.00 9,456,764.59 36,749.35 0.00
B-2 0.00 4,203,228.14 16,333.91 0.00
B-3 0.00 2,801,819.61 10,887.98 0.00
B-4 0.00 1,400,411.08 5,442.05 0.00
B-5 0.00 1,050,308.31 4,081.54 0.00
B-6 0.00 1,401,851.39 5,447.65 0.00
1-IO 0.00 0.00 24,310.45 0.00
2-IO 0.00 0.00 143,420.60 0.00
SES 0.00 0.00 103,807.51 0.00
Totals 0.00 576,529,844.31 10,718,261.77 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>
1-A-1 63,317,000.00 43,772,416.51 69,813.00 1,284,727.51 0.00 0.00
1-A-R 50.00 0.00 0.00 0.00 0.00 0.00
1-A-LR 50.00 0.00 0.00 0.00 0.00 0.00
2-A-1 98,549,000.00 82,994,474.15 36,193.98 1,098,575.88 0.00 0.00
2-A-2 520,000,000.00 437,925,565.51 190,979.84 5,796,704.77 0.00 0.00
B-1 9,481,000.00 9,461,905.65 5,141.06 0.00 0.00 0.00
B-2 4,214,000.00 4,205,513.17 2,285.04 0.00 0.00 0.00
B-3 2,809,000.00 2,803,342.79 1,523.18 0.00 0.00 0.00
B-4 1,404,000.00 1,401,172.40 761.32 0.00 0.00 0.00
B-5 1,053,000.00 1,050,879.30 570.99 0.00 0.00 0.00
B-6 1,405,444.00 1,402,613.49 762.10 0.00 0.00 0.00
1-IO 0.00 0.00 0.00 0.00 0.00 0.00
2-IO 0.00 0.00 0.00 0.00 0.00 0.00
SES 0.00 0.00 0.00 0.00 0.00 0.00
Totals 702,232,544.00 585,017,882.97 308,030.51 8,180,008.16 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>
1-A-1 1,354,540.51 42,417,876.00 0.66992871 1,354,540.51
1-A-R 0.00 0.00 0.00000000 0.00
1-A-LR 0.00 0.00 0.00000000 0.00
2-A-1 1,134,769.87 81,859,704.28 0.83064977 1,134,769.87
2-A-2 5,987,684.60 431,937,880.91 0.83064977 5,987,684.60
B-1 5,141.06 9,456,764.59 0.99744379 5,141.06
B-2 2,285.04 4,203,228.14 0.99744379 2,285.04
B-3 1,523.18 2,801,819.61 0.99744379 1,523.18
B-4 761.32 1,400,411.08 0.99744379 761.32
B-5 570.99 1,050,308.31 0.99744379 570.99
B-6 762.10 1,401,851.39 0.99744379 762.10
1-IO 0.00 0.00 0.00000000 0.00
2-IO 0.00 0.00 0.00000000 0.00
SES 0.00 0.00 0.00000000 0.00
Totals 8,488,038.67 576,529,844.31 0.82099562 8,488,038.67
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>
1-A-1 63,317,000.00 691.32170681 1.10259488 20.29040400 0.00000000
1-A-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 50.00 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 98,549,000.00 842.16454911 0.36726887 11.14750916 0.00000000
2-A-2 520,000,000.00 842.16454906 0.36726892 11.14750917 0.00000000
B-1 9,481,000.00 997.98604050 0.54224871 0.00000000 0.00000000
B-2 4,214,000.00 997.98603939 0.54224964 0.00000000 0.00000000
B-3 2,809,000.00 997.98604130 0.54224991 0.00000000 0.00000000
B-4 1,404,000.00 997.98603989 0.54225071 0.00000000 0.00000000
B-5 1,053,000.00 997.98603989 0.54225071 0.00000000 0.00000000
B-6 1,405,444.00 997.98603858 0.54224857 0.00000000 0.00000000
1-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
2-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
SES 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All classes 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>
1-A-1 0.00000000 21.39299888 669.92870793 0.66992871 21.39299888
1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 0.00000000 11.51477813 830.64977098 0.83064977 11.51477813
2-A-2 0.00000000 11.51477808 830.64977098 0.83064977 11.51477808
B-1 0.00000000 0.54224871 997.44379179 0.99744379 0.54224871
B-2 0.00000000 0.54224964 997.44379212 0.99744379 0.54224964
B-3 0.00000000 0.54224991 997.44379138 0.99744379 0.54224991
B-4 0.00000000 0.54225071 997.44378917 0.99744379 0.54225071
B-5 0.00000000 0.54225071 997.44378917 0.99744379 0.54225071
B-6 0.00000000 0.54224857 997.44379001 0.99744379 0.54224857
1-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
2-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
SES 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>
1-A-1 63,317,000.00 3.44631% 43,772,416.51 125,711.11 0.00 0.00
1-A-R 50.00 3.50323% 0.00 0.00 0.00 0.00
1-A-LR 50.00 3.50323% 0.00 0.00 0.00 0.00
2-A-1 98,549,000.00 3.58014% 82,994,474.15 247,610.08 0.00 0.00
2-A-2 520,000,000.00 4.15814% 437,925,565.51 1,517,464.30 0.00 0.00
B-1 9,481,000.00 4.00870% 9,461,905.65 31,608.29 0.00 0.00
B-2 4,214,000.00 4.00870% 4,205,513.17 14,048.87 0.00 0.00
B-3 2,809,000.00 4.00870% 2,803,342.79 9,364.80 0.00 0.00
B-4 1,404,000.00 4.00870% 1,401,172.40 4,680.73 0.00 0.00
B-5 1,053,000.00 4.00870% 1,050,879.30 3,510.55 0.00 0.00
B-6 1,405,444.00 4.00870% 1,402,613.49 4,685.55 0.00 0.00
1-IO 0.00 0.63900% 45,653,430.55 24,310.45 0.00 0.00
2-IO 0.00 0.31909% 539,364,452.89 143,420.60 0.00 0.00
SES 0.00 0.00000% 585,017,883.44 0.00 0.00 0.00
Totals 702,232,544.00 2,126,415.33 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>
1-A-1 0.00 0.00 125,711.11 0.00 42,417,876.00
1-A-R 0.00 0.00 0.00 0.00 0.00
1-A-LR 0.00 0.00 0.27 0.00 0.00
2-A-1 0.00 0.00 247,610.08 0.00 81,859,704.28
2-A-2 0.01 0.00 1,517,464.29 0.00 431,937,880.91
B-1 0.00 0.00 31,608.29 0.00 9,456,764.59
B-2 0.00 0.00 14,048.87 0.00 4,203,228.14
B-3 0.00 0.00 9,364.80 0.00 2,801,819.61
B-4 0.00 0.00 4,680.73 0.00 1,400,411.08
B-5 0.00 0.00 3,510.55 0.00 1,050,308.31
B-6 0.00 0.00 4,685.55 0.00 1,401,851.39
1-IO 0.00 0.00 24,310.45 0.00 44,295,889.99
2-IO 0.00 0.00 143,420.60 0.00 532,233,954.79
SES 0.00 0.00 103,807.51 0.00 576,529,844.78
Totals 0.01 0.00 2,230,223.10 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>
1-A-1 63,317,000.00 3.44631% 691.32170681 1.98542429 0.00000000 0.00000000
1-A-R 50.00 3.50323% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 50.00 3.50323% 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 98,549,000.00 3.58014% 842.16454911 2.51255802 0.00000000 0.00000000
2-A-2 520,000,000.00 4.15814% 842.16454906 2.91820058 0.00000000 0.00000000
B-1 9,481,000.00 4.00870% 997.98604050 3.33385613 0.00000000 0.00000000
B-2 4,214,000.00 4.00870% 997.98603939 3.33385619 0.00000000 0.00000000
B-3 2,809,000.00 4.00870% 997.98604130 3.33385546 0.00000000 0.00000000
B-4 1,404,000.00 4.00870% 997.98603989 3.33385328 0.00000000 0.00000000
B-5 1,053,000.00 4.00870% 997.98603989 3.33385565 0.00000000 0.00000000
B-6 1,405,444.00 4.00870% 997.98603858 3.33385749 0.00000000 0.00000000
1-IO 0.00 0.63900% 700.10764327 0.37280729 0.00000000 0.00000000
2-IO 0.00 0.31909% 846.69490179 0.22514181 0.00000000 0.00000000
SES 0.00 0.00000% 833.08284136 0.00000000 0.00000000 0.00000000
<FN>
(5) All classes are per $1,000 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>
1-A-1 0.00000000 0.00000000 1.98542429 0.00000000 669.92870793
1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 0.00000000 0.00000000 5.40000000 0.00000000 0.00000000
2-A-1 0.00000000 0.00000000 2.51255802 0.00000000 830.64977098
2-A-2 0.00000002 0.00000000 2.91820056 0.00000000 830.64977098
B-1 0.00000000 0.00000000 3.33385613 0.00000000 997.44379179
B-2 0.00000000 0.00000000 3.33385619 0.00000000 997.44379212
B-3 0.00000000 0.00000000 3.33385546 0.00000000 997.44379138
B-4 0.00000000 0.00000000 3.33385328 0.00000000 997.44378917
B-5 0.00000000 0.00000000 3.33385565 0.00000000 997.44378917
B-6 0.00000000 0.00000000 3.33385749 0.00000000 997.44379001
1-IO 0.00000000 0.00000000 0.37280729 0.00000000 679.28939345
2-IO 0.00000000 0.00000000 0.22514181 0.00000000 835.50143815
SES 0.00000000 0.00000000 0.14782498 0.00000000 820.99562221
<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 Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
<s> <c> <c> <c> <c> <c> <c>
1-SES 0.00000% 45,653,430.55 44,295,889.99 0.00 0.00 67.92893935%
2-SES 0.00000% 539,364,452.89 532,233,954.79 0.00 0.00 83.55014382%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 10,744,343.82
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 0.00
Total Deposits 10,744,343.82
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 26,082.05
Payment of Interest and Principal 10,718,261.77
Total Withdrawals (Pool Distribution Amount) 10,744,343.82
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 24,375.75
Trustee Fee - Wells Fargo Bank, N.A. 1,706.30
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 26,082.05
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 4 0 0 0 4
1,797,438.83 0.00 0.00 0.00 1,797,438.83
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 4 0 0 0 4
1,797,438.83 0.00 0.00 0.00 1,797,438.83
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 0.366636% 0.000000% 0.000000% 0.000000% 0.366636%
0.311627% 0.000000% 0.000000% 0.000000% 0.311627%
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 0.366636% 0.000000% 0.000000% 0.000000% 0.366636%
0.311627% 0.000000% 0.000000% 0.000000% 0.311627%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1- 3/1 ARM 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
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%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2- 5/1 ARM 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 4 0 0 0 4
1,797,438.83 0.00 0.00 0.00 1,797,438.83
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 4 0 0 0 4
1,797,438.83 0.00 0.00 0.00 1,797,438.83
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.399202% 0.000000% 0.000000% 0.000000% 0.399202%
0.337584% 0.000000% 0.000000% 0.000000% 0.337584%
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 0.399202% 0.000000% 0.000000% 0.000000% 0.399202%
0.337584% 0.000000% 0.000000% 0.000000% 0.337584%
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 ARM
Weighted Average Gross Coupon 4.624999%
Weighted Average Net Coupon 4.365244%
Weighted Average Pass-Through Rate 4.361743%
Weighted Average Maturity(Stepdown Calculation ) 352
Beginning Scheduled Collateral Loan Count 1,105
Number Of Loans Paid In Full 14
Ending Scheduled Collateral Loan Count 1,091
Beginning Scheduled Collateral Balance 585,017,883.44
Ending Scheduled Collateral Balance 576,529,844.78
Ending Actual Collateral Balance at 30-Jun-2004 576,792,543.36
Monthly P &I Constant 2,562,786.70
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 576,529,844.78
Scheduled Principal 308,030.50
Unscheduled Principal 8,180,008.16
Miscellaneous Reporting
Total Senior% 96.525674%
Total Subordinate% 3.474326%
Group Level Collateral Statement
Group 1- 3/1 ARM 2- 5/1 ARM Total
Collateral Description Mixed ARM Mixed ARM Mixed ARM
Weighted Average Coupon Rate 4.463810 4.638643 4.624999
Weighted Average Net Rate 4.213810 4.388643 4.365244
Weighted Average Maturity 351 354 352
Beginning Loan Count 92 1,013 1,105
Loans Paid In Full 3 11 14
Ending Loan Count 89 1,002 1,091
Beginning Scheduled Balance 45,653,430.55 539,364,452.89 585,017,883.44
Ending scheduled Balance 44,295,889.99 532,233,954.79 576,529,844.78
Record Date 06/30/2004 06/30/2004 06/30/2004
Principal And Interest Constant 242,636.60 2,320,150.10 2,562,786.70
Scheduled Principal 72,813.05 235,217.45 308,030.50
Unscheduled Principal 1,284,727.51 6,895,280.65 8,180,008.16
Scheduled Interest 169,823.55 2,084,932.65 2,254,756.20
Servicing Fees 9,511.13 112,367.60 121,878.73
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 133.15 1,573.15 1,706.30
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 4,755.57 0.00 4,755.57
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 155,423.70 1,970,991.90 2,126,415.60
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 4.085310 4.385143 4.361743
Miscellaneous Reporting
Group 1- 3/1 ARM
CPR 29.042431%
Senior Prepayment% 100.000000%
Subordinate% 4.120203%
Subordinate Prepayment% 0.000000%
Senior% 95.879797%
Group 2- 5/1 ARM
CPR 14.312724%
Senior Prepayment% 100.000000%
Subordinate% 3.419657%
Subordinate Prepayment% 0.000000%
Senior% 96.580343%