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): August 25, 2004
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset-Backed Pass-Through Certificates, Series 2004-RM1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-110039-09 54-2157780
Pooling and Servicing Agreement) (Commission 54-2157781
(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)
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))
ITEM 8.01 Other Events
On August 25, 2004 a distribution was made to holders of ACE SECURITIES CORP.
HOME EQUITY LOAN TRUST, Asset-Backed Pass-Through Certificates, Series 2004-RM1
Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Asset-Backed Pass-Through Certificates,
Series 2004-RM1 Trust, relating to the
August 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.
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset-Backed Pass-Through Certificates, Series 2004-RM1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Securities Administrator
By: /s/ Beth Belfield as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 8/27/04
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset-Backed
Pass-Through Certificates, Series 2004-RM1 Trust,
relating to the August 25, 2004 distribution.
EX-99.1
ACE Securities Corporation Home Equity Loan Trust
Asset-Backed Pass-Through Certificates
Record Date: 7/31/04
Distribution Date: 8/25/04
ACE Series: 2004-RM1
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-1A 004421FP3 SEN 1.83000% 131,108,000.00 173,281.07 2,848,907.84
A-1B 004421FQ1 SEN 1.76000% 131,108,000.00 166,652.84 2,848,907.84
A-2 004421FR9 SEN 1.86000% 69,994,000.00 94,025.27 869,467.43
M-1 004421FS7 MEZ 2.18000% 23,657,000.00 37,246.63 0.00
M-2 004421FT5 MEZ 2.68000% 18,513,000.00 35,832.94 0.00
M-3 004421FU2 MEZ 2.93000% 5,143,000.00 10,883.16 0.00
M-4 004421FV0 MEZ 3.43000% 5,143,000.00 12,740.35 0.00
M-5 004421FW8 MEZ 3.58000% 4,114,000.00 10,636.98 0.00
M-6 004421FX6 MEZ 4.98000% 4,114,000.00 14,796.69 0.00
B-1 004421FY4 SUB 4.98000% 6,171,000.00 22,195.03 0.00
B-2 004421FZ1 SUB 4.98000% 8,228,000.00 29,593.37 0.00
B-3 004421GA5 SUB 4.98000% 2,057,000.00 7,398.34 0.00
CE ACE0401CE JUN 0.00000% 2,057,357.90 1,426,537.64 320.61
P ACE04010P SEN 0.00000% 100.00 19,343.66 0.00
R-1 ACE0401R1 SEN 0.00000% 0.00 0.00 0.00
R-2 ACE0401R2 SEN 0.00000% 0.00 0.00 0.00
Totals 411,407,457.90 2,061,163.97 6,567,603.72
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1A 0.00 128,259,092.16 3,022,188.91 0.00
A-1B 0.00 128,259,092.16 3,015,560.68 0.00
A-2 0.00 69,124,532.57 963,492.70 0.00
M-1 0.00 23,657,000.00 37,246.63 0.00
M-2 0.00 18,513,000.00 35,832.94 0.00
M-3 0.00 5,143,000.00 10,883.16 0.00
M-4 0.00 5,143,000.00 12,740.35 0.00
M-5 0.00 4,114,000.00 10,636.98 0.00
M-6 0.00 4,114,000.00 14,796.69 0.00
B-1 0.00 6,171,000.00 22,195.03 0.00
B-2 0.00 8,228,000.00 29,593.37 0.00
B-3 0.00 2,057,000.00 7,398.34 0.00
CE 0.00 2,057,037.29 1,426,858.25 0.00
P 0.00 100.00 19,343.66 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
Totals 0.00 404,839,854.18 8,628,767.69 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-1A 131,108,000.00 131,108,000.00 0.00 2,848,907.84 0.00 0.00
A-1B 131,108,000.00 131,108,000.00 0.00 2,848,907.84 0.00 0.00
A-2 69,994,000.00 69,994,000.00 0.00 869,467.43 0.00 0.00
M-1 23,657,000.00 23,657,000.00 0.00 0.00 0.00 0.00
M-2 18,513,000.00 18,513,000.00 0.00 0.00 0.00 0.00
M-3 5,143,000.00 5,143,000.00 0.00 0.00 0.00 0.00
M-4 5,143,000.00 5,143,000.00 0.00 0.00 0.00 0.00
M-5 4,114,000.00 4,114,000.00 0.00 0.00 0.00 0.00
M-6 4,114,000.00 4,114,000.00 0.00 0.00 0.00 0.00
B-1 6,171,000.00 6,171,000.00 0.00 0.00 0.00 0.00
B-2 8,228,000.00 8,228,000.00 0.00 0.00 0.00 0.00
B-3 2,057,000.00 2,057,000.00 0.00 0.00 0.00 0.00
CE 2,057,357.90 2,057,357.90 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00 0.00
Totals 411,407,457.90 411,407,457.90 0.00 6,567,283.11 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-1A 2,848,907.84 128,259,092.16 0.97827053 2,848,907.84
A-1B 2,848,907.84 128,259,092.16 0.97827053 2,848,907.84
A-2 869,467.43 69,124,532.57 0.98757797 869,467.43
M-1 0.00 23,657,000.00 1.00000000 0.00
M-2 0.00 18,513,000.00 1.00000000 0.00
M-3 0.00 5,143,000.00 1.00000000 0.00
M-4 0.00 5,143,000.00 1.00000000 0.00
M-5 0.00 4,114,000.00 1.00000000 0.00
M-6 0.00 4,114,000.00 1.00000000 0.00
B-1 0.00 6,171,000.00 1.00000000 0.00
B-2 0.00 8,228,000.00 1.00000000 0.00
B-3 0.00 2,057,000.00 1.00000000 0.00
CE 320.61 2,057,037.29 0.99984416 320.61
P 0.00 100.00 1.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
Totals 6,567,603.72 404,839,854.18 0.98403626 6,567,603.72
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-1A 131,108,000.00 1000.00000000 0.00000000 21.72947372 0.00000000
A-1B 131,108,000.00 1000.00000000 0.00000000 21.72947372 0.00000000
A-2 69,994,000.00 1000.00000000 0.00000000 12.42202803 0.00000000
M-1 23,657,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 18,513,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 5,143,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 5,143,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 4,114,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 4,114,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 6,171,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-2 8,228,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-3 2,057,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 2,057,357.90 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-2 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>
A-1A 0.00000000 21.72947372 978.27052628 0.97827053 21.72947372
A-1B 0.00000000 21.72947372 978.27052628 0.97827053 21.72947372
A-2 0.00000000 12.42202803 987.57797197 0.98757797 12.42202803
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
B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 0.15583579 999.84416421 0.99984416 0.15583579
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 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-1A 131,108,000.00 1.83000% 131,108,000.00 173,281.07 0.00 0.00
A-1B 131,108,000.00 1.76000% 131,108,000.00 166,652.84 0.00 0.00
A-2 69,994,000.00 1.86000% 69,994,000.00 94,025.27 0.00 0.00
M-1 23,657,000.00 2.18000% 23,657,000.00 37,246.63 0.00 0.00
M-2 18,513,000.00 2.68000% 18,513,000.00 35,832.94 0.00 0.00
M-3 5,143,000.00 2.93000% 5,143,000.00 10,883.16 0.00 0.00
M-4 5,143,000.00 3.43000% 5,143,000.00 12,740.35 0.00 0.00
M-5 4,114,000.00 3.58000% 4,114,000.00 10,636.98 0.00 0.00
M-6 4,114,000.00 4.98000% 4,114,000.00 14,796.69 0.00 0.00
B-1 6,171,000.00 4.98000% 6,171,000.00 22,195.03 0.00 0.00
B-2 8,228,000.00 4.98000% 8,228,000.00 29,593.37 0.00 0.00
B-3 2,057,000.00 4.98000% 2,057,000.00 7,398.34 0.00 0.00
CE 2,057,357.90 0.00000% 2,057,357.90 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
R-2 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 411,407,457.90 615,282.67 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-1A 0.00 0.00 173,281.07 0.00 128,259,092.16
A-1B 0.00 0.00 166,652.84 0.00 128,259,092.16
A-2 0.00 0.00 94,025.27 0.00 69,124,532.57
M-1 0.00 0.00 37,246.63 0.00 23,657,000.00
M-2 0.00 0.00 35,832.94 0.00 18,513,000.00
M-3 0.00 0.00 10,883.16 0.00 5,143,000.00
M-4 0.00 0.00 12,740.35 0.00 5,143,000.00
M-5 0.00 0.00 10,636.98 0.00 4,114,000.00
M-6 0.00 0.00 14,796.69 0.00 4,114,000.00
B-1 0.00 0.00 22,195.03 0.00 6,171,000.00
B-2 0.00 0.00 29,593.37 0.00 8,228,000.00
B-3 0.00 0.00 7,398.34 0.00 2,057,000.00
CE 0.00 0.00 1,426,537.64 0.00 2,057,037.29
P 0.00 0.00 19,343.66 0.00 100.00
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,061,163.97 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-1A 131,108,000.00 1.83000% 1000.00000000 1.32166664 0.00000000 0.00000000
A-1B 131,108,000.00 1.76000% 1000.00000000 1.27111115 0.00000000 0.00000000
A-2 69,994,000.00 1.86000% 1000.00000000 1.34333329 0.00000000 0.00000000
M-1 23,657,000.00 2.18000% 1000.00000000 1.57444435 0.00000000 0.00000000
M-2 18,513,000.00 2.68000% 1000.00000000 1.93555556 0.00000000 0.00000000
M-3 5,143,000.00 2.93000% 1000.00000000 2.11611122 0.00000000 0.00000000
M-4 5,143,000.00 3.43000% 1000.00000000 2.47722147 0.00000000 0.00000000
M-5 4,114,000.00 3.58000% 1000.00000000 2.58555664 0.00000000 0.00000000
M-6 4,114,000.00 4.98000% 1000.00000000 3.59666748 0.00000000 0.00000000
B-1 6,171,000.00 4.98000% 1000.00000000 3.59666667 0.00000000 0.00000000
B-2 8,228,000.00 4.98000% 1000.00000000 3.59666626 0.00000000 0.00000000
B-3 2,057,000.00 4.98000% 1000.00000000 3.59666505 0.00000000 0.00000000
CE 2,057,357.90 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000% 0.00000000 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>
A-1A 0.00000000 0.00000000 1.32166664 0.00000000 978.27052628
A-1B 0.00000000 0.00000000 1.27111115 0.00000000 978.27052628
A-2 0.00000000 0.00000000 1.34333329 0.00000000 987.57797197
M-1 0.00000000 0.00000000 1.57444435 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 1.93555556 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 2.11611122 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 2.47722147 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 2.58555664 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 3.59666748 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 3.59666667 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 3.59666626 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 3.59666505 0.00000000 1000.00000000
CE 0.00000000 0.00000000 693.38331459 0.00000000 999.84416421
P 0.00000000 0.00000000 193436.60000000 0.00000000 1000.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 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 8,786,474.06
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 5,854.94
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 19,343.66
Total Deposits 8,811,672.66
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 182,904.89
Payment of Interest and Principal 8,628,767.77
Total Withdrawals (Pool Distribution Amount) 8,811,672.66
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 171,419.77
Credit Risk Manger Fee: Murray Hill Company 5,142.59
Master Servicing Fee: Wells Fargo Bank 6,342.53
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 182,904.89
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 1,000.00 0.00 0.00 1,000.00
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 2 0 0 0 2
636,189.17 0.00 0.00 0.00 636,189.17
60 Days 2 0 0 0 2
302,579.13 0.00 0.00 0.00 302,579.13
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
938,768.30 0.00 0.00 0.00 938,768.30
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 0.090090% 0.000000% 0.000000% 0.000000% 0.090090%
0.157146% 0.000000% 0.000000% 0.000000% 0.157146%
60 Days 0.090090% 0.000000% 0.000000% 0.000000% 0.090090%
0.074740% 0.000000% 0.000000% 0.000000% 0.074740%
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 0.180180% 0.000000% 0.000000% 0.000000% 0.180180%
0.231886% 0.000000% 0.000000% 0.000000% 0.231886%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
GRP I SUBGRP I 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 1 0 0 0 1
143,555.28 0.00 0.00 0.00 143,555.28
60 Days 2 0 0 0 2
302,579.13 0.00 0.00 0.00 302,579.13
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 3 0 0 0 3
446,134.41 0.00 0.00 0.00 446,134.41
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.078125% 0.000000% 0.000000% 0.000000% 0.078125%
0.055538% 0.000000% 0.000000% 0.000000% 0.055538%
60 Days 0.156250% 0.000000% 0.000000% 0.000000% 0.156250%
0.117060% 0.000000% 0.000000% 0.000000% 0.117060%
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 0.234375% 0.000000% 0.000000% 0.000000% 0.234375%
0.172598% 0.000000% 0.000000% 0.000000% 0.172598%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
GRP I SUBGRP II 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>
GRP II SUBGRP I 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 1 0 0 0 1
492,633.89 0.00 0.00 0.00 492,633.89
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 1 0 0 0 1
492,633.89 0.00 0.00 0.00 492,633.89
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.578035% 0.000000% 0.000000% 0.000000% 0.578035%
0.703603% 0.000000% 0.000000% 0.000000% 0.703603%
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 0.578035% 0.000000% 0.000000% 0.000000% 0.578035%
0.703603% 0.000000% 0.000000% 0.000000% 0.703603%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
GRP II SUBGRP II 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%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 5,854.94
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 6.835637%
Weighted Average Net Coupon 5.989115%
Weighted Average Pass-Through Rate 5.955615%
Weighted Average Maturity(Stepdown Calculation ) 344
Beginning Scheduled Collateral Loan Count 2,253
Number Of Loans Paid In Full 33
Ending Scheduled Collateral Loan Count 2,220
Beginning Scheduled Collateral Balance 411,407,457.90
Ending Scheduled Collateral Balance 404,839,854.18
Ending Actual Collateral Balance at 31-Jul-2004 404,839,854.18
Monthly P &I Constant 2,683,603.41
Special Servicing Fee 0.00
Prepayment Penalties 19,343.66
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 337,864.78
Unscheduled Principal 6,229,738.94
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 320.61
Specified O/C Amount 2,057,037.29
Overcollateralized Amount 2,057,037.29
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Group Level Collateral Statement
Group GRP I SUBGRP I GRP I SUBGRP II GRP II SUBGRP I
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 6.567445 8.037201 6.460984
Weighted Average Net Rate 6.067445 7.537201 5.960984
Weighted Average Maturity 357 291 357
Beginning Loan Count 1,304 656 175
Loans Paid In Full 24 7 2
Ending Loan Count 1,280 649 173
Beginning Scheduled Balance 263,496,246.39 61,231,178.83 70,873,857.94
Ending scheduled Balance 258,481,731.64 60,547,599.74 70,015,918.79
Record Date 07/31/2004 07/31/2004 07/31/2004
Principal And Interest Constant 1,661,804.62 461,651.50 437,426.80
Scheduled Principal 219,723.69 51,545.42 55,831.11
Unscheduled Principal 4,794,791.06 632,033.67 802,108.04
Scheduled Interest 1,442,080.93 410,106.08 381,595.69
Servicing Fees 109,790.10 25,512.99 29,530.77
Master Servicing Fees 4,062.23 943.98 1,092.64
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 85,864.49 15,569.23 19,810.03
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 1,242,364.11 368,079.88 331,162.25
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 5.657906 7.213578 5.607070
Group Level Collateral Statement
Group GRP II SUBGRP II Total
Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 8.499660 6.835637
Weighted Average Net Rate 7.999660 5.989115
Weighted Average Maturity 268 344
Beginning Loan Count 118 2,253
Loans Paid In Full 0 33
Ending Loan Count 118 2,220
Beginning Scheduled Balance 15,806,174.74 411,407,457.90
Ending scheduled Balance 15,794,604.01 404,839,854.18
Record Date 07/31/2004 07/31/2004
Principal And Interest Constant 122,720.49 2,683,603.41
Scheduled Principal 10,764.56 337,864.78
Unscheduled Principal 806.17 6,229,738.94
Scheduled Interest 111,955.93 2,345,738.63
Servicing Fees 6,585.91 171,419.77
Master Servicing Fees 243.68 6,342.53
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 2,700.14 123,943.89
Pool Insurance Fee 0.00 0.00
Spread Fee 1 0.00 0.00
Spread Fee 2 0.00 0.00
Spread Fee 3 0.00 0.00
Net Interest 102,426.20 2,044,032.44
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 7.776167 5.955615