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): September 27, 2004
IMPAC SECURED ASSETS CORPORATION
Mortgage Pass-Through Certificates, Series 2004-3 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-117991-01
Pooling and Servicing Agreement) (Commission 54-2160281
(State or other File Number) 54-2160282
jurisdiction 54-2160283
of Incorporation) 54-2160284
IRS EIN
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 September 27, 2004 a distribution was made to holders of IMPAC SECURED
ASSETS CORPORATION, Mortgage Pass-Through Certificates, Series 2004-3 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Mortgage Pass-Through Certificates,
Series 2004-3 Trust, relating to the
September 27, 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.
IMPAC SECURED ASSETS CORPORATION
Mortgage Pass-Through Certificates, Series 2004-3 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: 9/30/2004
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2004-3 Trust,
relating to the September 27, 2004 distribution.
EX-99.1
Impac Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
Record Date: 8/31/2004
Distribution Date: 9/27/2004
IMP Series: 2004-3
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 45254TPU2 SEN 1.84000% 475,414,000.00 656,071.32 4,006,098.96
1-A-2 45254TPV0 SEN 1.99000% 200,000,000.00 298,500.00 0.00
1-A-3 45254TPW8 SEN 2.17000% 145,231,000.00 236,363.45 0.00
1-A-4 45254TPX6 SEN 2.04000% 554,152,000.00 847,852.56 2,705,174.28
1-A-5 45254TPY4 SEN 2.11000% 152,755,000.00 241,734.79 745,695.94
2-A-1 45254TPZ1 SEN 1.96000% 400,124,000.00 588,182.28 1,230,879.69
2-A-2 45254TQA5 SEN 1.96000% 225,124,000.00 330,932.28 692,536.71
M-1 45254TQB3 MEZ 2.24000% 26,450,000.00 44,436.00 0.00
M-2 45254TQC1 MEZ 2.29000% 23,000,000.00 39,502.50 0.00
M-3 45254TQD9 MEZ 2.34000% 23,000,000.00 40,365.00 0.00
M-4 45254TQE7 MEZ 2.79000% 23,000,000.00 48,127.50 0.00
M-5 45254TQF4 MEZ 2.89000% 23,000,000.00 49,852.50 0.00
B 45254TQG2 SUB 3.49000% 28,750,000.00 75,253.13 0.00
C 45254TQH0 SEN 0.00000% 0.00 3,021,899.86 0.00
P 45254TQJ6 SEN 0.00000% 100.00 22,940.68 0.00
R 45254TQK3 RES 0.00000% 0.00 0.00 0.00
Totals 2,300,000,100.00 6,542,013.85 9,380,385.58
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-A-1 0.00 471,407,901.04 4,662,170.28 0.00
1-A-2 0.00 200,000,000.00 298,500.00 0.00
1-A-3 0.00 145,231,000.00 236,363.45 0.00
1-A-4 0.00 551,446,825.72 3,553,026.84 0.00
1-A-5 0.00 152,009,304.06 987,430.73 0.00
2-A-1 0.00 398,893,120.31 1,819,061.97 0.00
2-A-2 0.00 224,431,463.29 1,023,468.99 0.00
M-1 0.00 26,450,000.00 44,436.00 0.00
M-2 0.00 23,000,000.00 39,502.50 0.00
M-3 0.00 23,000,000.00 40,365.00 0.00
M-4 0.00 23,000,000.00 48,127.50 0.00
M-5 0.00 23,000,000.00 49,852.50 0.00
B 0.00 28,750,000.00 75,253.13 0.00
C 0.00 0.00 3,021,899.86 0.00
P 0.00 100.00 22,940.68 0.00
R 0.00 0.00 0.00 0.00
Totals 0.00 2,290,619,714.42 15,922,399.43 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-1 475,414,000.00 475,414,000.00 0.00 0.00 0.00 0.00
1-A-2 200,000,000.00 200,000,000.00 0.00 0.00 0.00 0.00
1-A-3 145,231,000.00 145,231,000.00 0.00 0.00 0.00 0.00
1-A-4 554,152,000.00 554,152,000.00 0.00 0.00 0.00 0.00
1-A-5 152,755,000.00 152,755,000.00 0.00 0.00 0.00 0.00
2-A-1 400,124,000.00 400,124,000.00 0.00 0.00 0.00 0.00
2-A-2 225,124,000.00 225,124,000.00 0.00 0.00 0.00 0.00
M-1 26,450,000.00 26,450,000.00 0.00 0.00 0.00 0.00
M-2 23,000,000.00 23,000,000.00 0.00 0.00 0.00 0.00
M-3 23,000,000.00 23,000,000.00 0.00 0.00 0.00 0.00
M-4 23,000,000.00 23,000,000.00 0.00 0.00 0.00 0.00
M-5 23,000,000.00 23,000,000.00 0.00 0.00 0.00 0.00
B 28,750,000.00 28,750,000.00 0.00 0.00 0.00 0.00
C 0.00 0.00 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 2,300,000,100.00 2,300,000,100.00 0.00 0.00 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 4,006,098.96 471,407,901.04 0.99157345 4,006,098.96
1-A-2 0.00 200,000,000.00 1.00000000 0.00
1-A-3 0.00 145,231,000.00 1.00000000 0.00
1-A-4 2,705,174.28 551,446,825.72 0.99511835 2,705,174.28
1-A-5 745,695.94 152,009,304.06 0.99511835 745,695.94
2-A-1 1,230,879.69 398,893,120.31 0.99692375 1,230,879.69
2-A-2 692,536.71 224,431,463.29 0.99692375 692,536.71
M-1 0.00 26,450,000.00 1.00000000 0.00
M-2 0.00 23,000,000.00 1.00000000 0.00
M-3 0.00 23,000,000.00 1.00000000 0.00
M-4 0.00 23,000,000.00 1.00000000 0.00
M-5 0.00 23,000,000.00 1.00000000 0.00
B 0.00 28,750,000.00 1.00000000 0.00
C 0.00 0.00 0.00000000 0.00
P 0.00 100.00 1.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 9,380,385.58 2,290,619,714.42 0.99592157 9,380,385.58
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-1 475,414,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-2 200,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-3 145,231,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-4 554,152,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-A-5 152,755,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-1 400,124,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-2 225,124,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 26,450,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 23,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 23,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 23,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 23,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 28,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
C 0.00 0.00000000 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 Classes are per $1000 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 8.42654815 991.57345185 0.99157345 8.42654815
1-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-A-4 0.00000000 4.88164670 995.11835330 0.99511835 4.88164670
1-A-5 0.00000000 4.88164669 995.11835331 0.99511835 4.88164669
2-A-1 0.00000000 3.07624559 996.92375441 0.99692375 3.07624559
2-A-2 0.00000000 3.07624558 996.92375442 0.99692375 3.07624558
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
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
C 0.00000000 0.00000000 0.00000000 0.00000000 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>
1-A-1 475,414,000.00 1.84000% 475,414,000.00 656,071.32 0.00 0.00
1-A-2 200,000,000.00 1.99000% 200,000,000.00 298,500.00 0.00 0.00
1-A-3 145,231,000.00 2.17000% 145,231,000.00 236,363.45 0.00 0.00
1-A-4 554,152,000.00 2.04000% 554,152,000.00 847,852.56 0.00 0.00
1-A-5 152,755,000.00 2.11000% 152,755,000.00 241,734.79 0.00 0.00
2-A-1 400,124,000.00 1.96000% 400,124,000.00 588,182.28 0.00 0.00
2-A-2 225,124,000.00 1.96000% 225,124,000.00 330,932.28 0.00 0.00
M-1 26,450,000.00 2.24000% 26,450,000.00 44,436.00 0.00 0.00
M-2 23,000,000.00 2.29000% 23,000,000.00 39,502.50 0.00 0.00
M-3 23,000,000.00 2.34000% 23,000,000.00 40,365.00 0.00 0.00
M-4 23,000,000.00 2.79000% 23,000,000.00 48,127.50 0.00 0.00
M-5 23,000,000.00 2.89000% 23,000,000.00 49,852.50 0.00 0.00
B 28,750,000.00 3.49000% 28,750,000.00 75,253.13 0.00 0.00
C 0.00 0.00000% 0.00 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 2,300,000,100.00 3,497,173.31 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 0.00 656,071.32 0.00 471,407,901.04
1-A-2 0.00 0.00 298,500.00 0.00 200,000,000.00
1-A-3 0.00 0.00 236,363.45 0.00 145,231,000.00
1-A-4 0.00 0.00 847,852.56 0.00 551,446,825.72
1-A-5 0.00 0.00 241,734.79 0.00 152,009,304.06
2-A-1 0.00 0.00 588,182.28 0.00 398,893,120.31
2-A-2 0.00 0.00 330,932.28 0.00 224,431,463.29
M-1 0.00 0.00 44,436.00 0.00 26,450,000.00
M-2 0.00 0.00 39,502.50 0.00 23,000,000.00
M-3 0.00 0.00 40,365.00 0.00 23,000,000.00
M-4 0.00 0.00 48,127.50 0.00 23,000,000.00
M-5 0.00 0.00 49,852.50 0.00 23,000,000.00
B 0.00 0.00 75,253.13 0.00 28,750,000.00
C 0.00 0.00 3,021,899.86 0.00 0.00
P 0.00 0.00 22,940.68 0.00 100.00
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 6,542,013.85 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-1 475,414,000.00 1.84000% 1000.00000000 1.38000000 0.00000000 0.00000000
1-A-2 200,000,000.00 1.99000% 1000.00000000 1.49250000 0.00000000 0.00000000
1-A-3 145,231,000.00 2.17000% 1000.00000000 1.62749998 0.00000000 0.00000000
1-A-4 554,152,000.00 2.04000% 1000.00000000 1.53000000 0.00000000 0.00000000
1-A-5 152,755,000.00 2.11000% 1000.00000000 1.58250002 0.00000000 0.00000000
2-A-1 400,124,000.00 1.96000% 1000.00000000 1.47000000 0.00000000 0.00000000
2-A-2 225,124,000.00 1.96000% 1000.00000000 1.47000000 0.00000000 0.00000000
M-1 26,450,000.00 2.24000% 1000.00000000 1.68000000 0.00000000 0.00000000
M-2 23,000,000.00 2.29000% 1000.00000000 1.71750000 0.00000000 0.00000000
M-3 23,000,000.00 2.34000% 1000.00000000 1.75500000 0.00000000 0.00000000
M-4 23,000,000.00 2.79000% 1000.00000000 2.09250000 0.00000000 0.00000000
M-5 23,000,000.00 2.89000% 1000.00000000 2.16750000 0.00000000 0.00000000
B 28,750,000.00 3.49000% 1000.00000000 2.61750017 0.00000000 0.00000000
C 0.00 0.00000% 0.00000000 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) All Classes are Per $1000 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 1.38000000 0.00000000 991.57345185
1-A-2 0.00000000 0.00000000 1.49250000 0.00000000 1000.00000000
1-A-3 0.00000000 0.00000000 1.62749998 0.00000000 1000.00000000
1-A-4 0.00000000 0.00000000 1.53000000 0.00000000 995.11835330
1-A-5 0.00000000 0.00000000 1.58250002 0.00000000 995.11835331
2-A-1 0.00000000 0.00000000 1.47000000 0.00000000 996.92375441
2-A-2 0.00000000 0.00000000 1.47000000 0.00000000 996.92375442
M-1 0.00000000 0.00000000 1.68000000 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 1.71750000 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 1.75500000 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 2.09250000 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 2.16750000 0.00000000 1000.00000000
B 0.00000000 0.00000000 2.61750017 0.00000000 1000.00000000
C 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 229406.80000000 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 16,825,518.26
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 16,825,518.26
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 870,293.31
Payment of Interest and Principal 15,922,399.43
Total Withdrawals (Pool Distribution Amount) 16,792,692.74
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 596,876.40
Ambac Certificate Insurer Premium 0.00
Master Servicing Fee 47,750.37
Radian Lender-Paid PMI Policy 225,666.54
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 870,293.31
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 5,000.00 0.00 0.00 5,000.00
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 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 3 0 0 0 3
513,430.77 0.00 0.00 0.00 513,430.77
60 Days 1 0 0 0 1
276,567.18 0.00 0.00 0.00 276,567.18
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
789,997.95 0.00 0.00 0.00 789,997.95
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 0.039547% 0.000000% 0.000000% 0.000000% 0.039547%
0.027014% 0.000000% 0.000000% 0.000000% 0.027014%
60 Days 0.013182% 0.000000% 0.000000% 0.000000% 0.013182%
0.014551% 0.000000% 0.000000% 0.000000% 0.014551%
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 0.052729% 0.000000% 0.000000% 0.000000% 0.052729%
0.041565% 0.000000% 0.000000% 0.000000% 0.041565%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1 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
199,380.42 0.00 0.00 0.00 199,380.42
60 Days 1 0 0 0 1
276,567.18 0.00 0.00 0.00 276,567.18
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
475,947.60 0.00 0.00 0.00 475,947.60
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.039683% 0.000000% 0.000000% 0.000000% 0.039683%
0.014792% 0.000000% 0.000000% 0.000000% 0.014792%
60 Days 0.019841% 0.000000% 0.000000% 0.000000% 0.019841%
0.020519% 0.000000% 0.000000% 0.000000% 0.020519%
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 0.059524% 0.000000% 0.000000% 0.000000% 0.059524%
0.035311% 0.000000% 0.000000% 0.000000% 0.035311%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2 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
314,050.35 0.00 0.00 0.00 314,050.35
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
314,050.35 0.00 0.00 0.00 314,050.35
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.039277% 0.000000% 0.000000% 0.000000% 0.039277%
0.056817% 0.000000% 0.000000% 0.000000% 0.056817%
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 0.039277% 0.000000% 0.000000% 0.000000% 0.039277%
0.056817% 0.000000% 0.000000% 0.000000% 0.056817%
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 3.634828%
Weighted Average Net Coupon 3.323415%
Weighted Average Pass-Through Rate 3.418382%
Weighted Average Maturity(Stepdown Calculation ) 358
Beginning Scheduled Collateral Loan Count 7,622
Number Of Loans Paid In Full 36
Ending Scheduled Collateral Loan Count 7,586
Beginning Scheduled Collateral Balance 2,300,000,100.00
Ending Scheduled Collateral Balance 1,900,623,732.58
Ending Actual Collateral Balance at 31-Aug-2004 1,900,623,732.58
Monthly P &I Constant 6,580,043.58
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 1,900,623,732.58
Scheduled Principal 794,595.87
Unscheduled Principal 8,585,789.71
Beginning Interest Coverage Account Balance 4,738,484.05
Interest Coverage Amount 1,636,743.58
Ending Interest Coverage Account Balance 3,101,740.47
Miscellaneous Reporting
Overcollateralization Amount 0.00
Overcollateralization Increase Amount 0.00
Overcollateralization Reduction 0.00
Ambac Fee 32,825.52
Net Corridor Contract Payment Amount 0.00
Overcollateralization Target Amount 0.00
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 3.659436 3.574700 3.634828
Weighted Average Net Rate 3.284436 3.199700 3.323415
Weighted Average Maturity 358 358 358
Beginning Loan Count 5,068 2,554 7,622
Loans Paid In Full 28 8 36
Ending Loan Count 5,040 2,546 7,586
Beginning Scheduled Balance 1,355,338,924.30 554,665,193.86 1,910,004,118.16
Ending scheduled Balance 1,347,881,955.12 552,741,777.46 1,900,623,732.58
Record Date 08/31/2004 08/31/2004 08/31/2004
Principal And Interest Constant 4,667,168.13 1,912,875.45 6,580,043.58
Scheduled Principal 534,021.68 260,574.19 794,595.87
Unscheduled Principal 6,922,947.50 1,662,842.21 8,585,789.71
Scheduled Interest 4,133,146.45 1,652,301.26 5,785,447.71
Servicing Fees 423,543.47 173,332.93 596,876.40
Master Servicing Fees 0.00 0.00 0.00
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 204,989.18 68,427.73 273,416.91
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 3,504,613.80 1,410,540.60 4,915,154.40
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
<Caption>
Group Miscellaneous Reporting Items
1 Beginning Pre-Funding Account Balance 276,660,693.12
1 Ending Pre-Funding Account Balance 276,660,693.12
2 Beginning Pre-Funding Account Balance 113,335,188.72
2 Ending Pre-Funding Account Balance 113,335,188.72
</Table>