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
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2004-FM2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-110039-10 54-6636487
Pooling and Servicing Agreement) (Commission 54-6636488
(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 September 27, 2004 a distribution was made to holders of ACE SECURITIES
CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series
2004-FM2 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-FM2 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.
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2004-FM2 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: 10/1/2004
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Pass-Through Certificates, Series 2004-FM2 Trust,
relating to the September 27, 2004 distribution.
EX-99.1
ACE Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 8/31/2004
Distribution Date: 9/27/2004
ACE Series: 2004-FM2
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 004421GD9 SEN 1.94000% 321,661,000.00 485,350.71 4,772,361.11
A-1B 004421GE7 SEN 1.94000% 321,661,000.00 485,350.71 4,030,854.97
A-2A 004421GF4 SEN 1.80000% 115,627,000.00 161,877.80 1,979,225.56
A-2B 004421GG2 SEN 1.95000% 37,106,000.00 56,277.43 0.00
A-2C 004421GH0 SEN 2.12000% 33,519,000.00 55,269.11 0.00
M-1 004421GJ6 MEZ 2.29000% 63,498,000.00 113,096.99 0.00
M-2 004421GK3 MEZ 2.84000% 51,208,000.00 113,112.78 0.00
M-3 004421GL1 MEZ 2.99000% 15,362,000.00 35,725.18 0.00
M-4 004421GM9 MEZ 3.77000% 12,802,000.00 37,538.31 0.00
M-5 004421GN7 MEZ 3.59000% 10,242,000.00 28,597.94 0.00
M-6 004421GP2 MEZ 5.14000% 10,242,000.00 40,945.24 0.00
B 004421GQ0 SUB 5.14000% 15,362,000.00 61,413.86 0.00
CE ACE04FM2C MEZ 0.00000% 15,874,418.64 3,719,265.71 (131.40)
P ACE04FM2P SEN 0.00000% 100.00 372,888.85 0.00
R ACE4FM2R1 SEN 0.00000% 0.00 0.00 0.00
Totals 1,024,164,518.64 5,766,710.62 10,782,310.24
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1A 0.00 316,888,638.89 5,257,711.82 0.00
A-1B 0.00 317,630,145.03 4,516,205.68 0.00
A-2A 0.00 113,647,774.44 2,141,103.36 0.00
A-2B 0.00 37,106,000.00 56,277.43 0.00
A-2C 0.00 33,519,000.00 55,269.11 0.00
M-1 0.00 63,498,000.00 113,096.99 0.00
M-2 0.00 51,208,000.00 113,112.78 0.00
M-3 0.00 15,362,000.00 35,725.18 0.00
M-4 0.00 12,802,000.00 37,538.31 0.00
M-5 0.00 10,242,000.00 28,597.94 0.00
M-6 0.00 10,242,000.00 40,945.24 0.00
B 0.00 15,362,000.00 61,413.86 0.00
CE 0.00 15,874,550.04 3,719,134.31 0.00
P 0.00 100.00 372,888.85 0.00
R 0.00 0.00 0.00 0.00
Totals 0.00 1,013,382,208.40 16,549,020.86 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 321,661,000.00 321,661,000.00 0.00 4,772,361.11 0.00 0.00
A-1B 321,661,000.00 321,661,000.00 0.00 4,030,854.97 0.00 0.00
A-2A 115,627,000.00 115,627,000.00 0.00 1,979,225.56 0.00 0.00
A-2B 37,106,000.00 37,106,000.00 0.00 0.00 0.00 0.00
A-2C 33,519,000.00 33,519,000.00 0.00 0.00 0.00 0.00
M-1 63,498,000.00 63,498,000.00 0.00 0.00 0.00 0.00
M-2 51,208,000.00 51,208,000.00 0.00 0.00 0.00 0.00
M-3 15,362,000.00 15,362,000.00 0.00 0.00 0.00 0.00
M-4 12,802,000.00 12,802,000.00 0.00 0.00 0.00 0.00
M-5 10,242,000.00 10,242,000.00 0.00 0.00 0.00 0.00
M-6 10,242,000.00 10,242,000.00 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
0.00 0.00 0.00 0.00 0.00 0.00
Totals 992,928,100.00 992,928,100.00 0.00 10,782,441.64 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 4,772,361.11 316,888,638.89 0.98516338 4,772,361.11
A-1B 4,030,854.97 317,630,145.03 0.98746862 4,030,854.97
A-2A 1,979,225.56 113,647,774.44 0.98288267 1,979,225.56
A-2B 0.00 37,106,000.00 1.00000000 0.00
A-2C 0.00 33,519,000.00 1.00000000 0.00
M-1 0.00 63,498,000.00 1.00000000 0.00
M-2 0.00 51,208,000.00 1.00000000 0.00
M-3 0.00 15,362,000.00 1.00000000 0.00
M-4 0.00 12,802,000.00 1.00000000 0.00
M-5 0.00 10,242,000.00 1.00000000 0.00
M-6 0.00 10,242,000.00 1.00000000 0.00
P 0.00 100.00 1.00000000 0.00
R 0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 10,782,441.64 982,145,658.36 0.98914076 10,782,441.64
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 321,661,000.00 1000.00000000 0.00000000 14.83661715 0.00000000
A-1B 321,661,000.00 1000.00000000 0.00000000 12.53137611 0.00000000
A-2A 115,627,000.00 1000.00000000 0.00000000 17.11733038 0.00000000
A-2B 37,106,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2C 33,519,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 63,498,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 51,208,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 15,362,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 12,802,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 10,242,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 10,242,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 15,362,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 15,874,418.64 1000.00000000 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 $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 14.83661715 985.16338285 0.98516338 14.83661715
A-1B 0.00000000 12.53137611 987.46862389 0.98746862 12.53137611
A-2A 0.00000000 17.11733038 982.88266962 0.98288267 17.11733038
A-2B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
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 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 (0.00827747) 1,000.00827747 1.00000828 (0.00827747)
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-1A 321,661,000.00 1.94000% 321,661,000.00 485,350.71 0.00 0.00
A-1B 321,661,000.00 1.94000% 321,661,000.00 485,350.71 0.00 0.00
A-2A 115,627,000.00 1.80000% 115,627,000.00 161,877.80 0.00 0.00
A-2B 37,106,000.00 1.95000% 37,106,000.00 56,277.43 0.00 0.00
A-2C 33,519,000.00 2.12000% 33,519,000.00 55,269.11 0.00 0.00
M-1 63,498,000.00 2.29000% 63,498,000.00 113,096.99 0.00 0.00
M-2 51,208,000.00 2.84000% 51,208,000.00 113,112.78 0.00 0.00
M-3 15,362,000.00 2.99000% 15,362,000.00 35,725.18 0.00 0.00
M-4 12,802,000.00 3.77000% 12,802,000.00 37,538.31 0.00 0.00
M-5 10,242,000.00 3.59000% 10,242,000.00 28,597.94 0.00 0.00
M-6 10,242,000.00 5.14000% 10,242,000.00 40,945.24 0.00 0.00
B 15,362,000.00 5.14000% 15,362,000.00 61,413.86 0.00 0.00
CE 15,874,418.64 0.00000% 15,874,418.64 3,719,265.71 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 1,024,164,518.64 5,393,821.77 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 0.00 485,350.71 0.00 316,888,638.89
A-1B 0.00 0.00 485,350.71 0.00 317,630,145.03
A-2A 0.00 0.00 161,877.80 0.00 113,647,774.44
A-2B 0.00 0.00 56,277.43 0.00 37,106,000.00
A-2C 0.00 0.00 55,269.11 0.00 33,519,000.00
M-1 0.00 0.00 113,096.99 0.00 63,498,000.00
M-2 0.00 0.00 113,112.78 0.00 51,208,000.00
M-3 0.00 0.00 35,725.18 0.00 15,362,000.00
M-4 0.00 0.00 37,538.31 0.00 12,802,000.00
M-5 0.00 0.00 28,597.94 0.00 10,242,000.00
M-6 0.00 0.00 40,945.24 0.00 10,242,000.00
B 0.00 0.00 61,413.86 0.00 15,362,000.00
CE 0.00 0.00 3,719,265.71 0.00 15,874,550.04
P 0.00 0.00 372,888.85 0.00 100.00
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 5,766,710.62 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 321,661,000.00 1.94000% 1000.00000000 1.50888889 0.00000000 0.00000000
A-1B 321,661,000.00 1.94000% 1000.00000000 1.50888889 0.00000000 0.00000000
A-2A 115,627,000.00 1.80000% 1000.00000000 1.40000000 0.00000000 0.00000000
A-2B 37,106,000.00 1.95000% 1000.00000000 1.51666658 0.00000000 0.00000000
A-2C 33,519,000.00 2.12000% 1000.00000000 1.64888899 0.00000000 0.00000000
M-1 63,498,000.00 2.29000% 1000.00000000 1.78111106 0.00000000 0.00000000
M-2 51,208,000.00 2.84000% 1000.00000000 2.20888885 0.00000000 0.00000000
M-3 15,362,000.00 2.99000% 1000.00000000 2.32555527 0.00000000 0.00000000
M-4 12,802,000.00 3.77000% 1000.00000000 2.93222231 0.00000000 0.00000000
M-5 10,242,000.00 3.59000% 1000.00000000 2.79222222 0.00000000 0.00000000
M-6 10,242,000.00 5.14000% 1000.00000000 3.99777778 0.00000000 0.00000000
B 15,362,000.00 5.14000% 1000.00000000 3.99777763 0.00000000 0.00000000
CE 15,874,418.64 0.00000% 1000.00000000 234.29303424 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 $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 1.50888889 0.00000000 985.16338285
A-1B 0.00000000 0.00000000 1.50888889 0.00000000 987.46862389
A-2A 0.00000000 0.00000000 1.40000000 0.00000000 982.88266962
A-2B 0.00000000 0.00000000 1.51666658 0.00000000 1000.00000000
A-2C 0.00000000 0.00000000 1.64888899 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 1.78111106 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.20888885 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 2.32555527 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 2.93222231 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 2.79222222 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 3.99777778 0.00000000 1000.00000000
B 0.00000000 0.00000000 3.99777763 0.00000000 1000.00000000
CE 0.00000000 0.00000000 234.29303424 0.00000000 1000.00827747
P 0.00000000 0.00000000 3728888.50000000 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 16,607,134.59
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 372,888.85
Total Deposits 16,980,023.44
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 431,002.58
Payment of Interest and Principal 16,549,020.86
Total Withdrawals (Pool Distribution Amount) 16,980,023.44
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 426,735.22
Master Servicing Fee 4,267.36
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 431,002.58
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
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%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group IA Sub Grp 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 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%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group IA Sub Grp 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 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%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group IB Sub Grp 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 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%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group IB Sub Grp 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 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%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group II Sub Grp 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 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%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group II Sub Grp 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 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 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 6.824870%
Weighted Average Net Coupon 6.324870%
Weighted Average Pass-Through Rate 6.319870%
Weighted Average Maturity(Stepdown Calculation ) 351
Beginning Scheduled Collateral Loan Count 5,770
Number Of Loans Paid In Full 58
Ending Scheduled Collateral Loan Count 5,712
Beginning Scheduled Collateral Balance 1,024,164,518.64
Ending Scheduled Collateral Balance 1,013,382,208.40
Ending Actual Collateral Balance at 31-Aug-2004 1,014,240,017.73
Monthly P &I Constant 6,659,013.88
Special Servicing Fee 0.00
Prepayment Penalties 372,888.85
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 834,189.50
Unscheduled Principal 9,948,120.74
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 131.40
Overcollateralized reduction Amount 0.00
Specified O/C Amount 15,874,550.04
Overcollateralized Amount 15,874,550.04
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 131.40
Excess Cash Amount 0.00
Group Level Collateral Statement
Group Group IA Sub Grp 1 Group IA Sub Grp 2 Group IB Sub Grp 1
Collateral Description Mixed Fixed Mixed ARM Mixed Fixed
Weighted Average Coupon Rate 7.655397 6.886961 7.448452
Weighted Average Net Rate 7.155397 6.386961 6.948452
Weighted Average Maturity 325 356 328
Beginning Loan Count 769 1,929 707
Loans Paid In Full 11 18 7
Ending Loan Count 758 1,911 700
Beginning Scheduled Balance 75,714,277.32 321,397,610.03 71,751,817.73
Ending scheduled Balance 74,841,868.62 317,497,715.78 70,969,555.85
Record Date 08/31/2004 08/31/2004 08/31/2004
Principal And Interest Constant 567,476.63 2,088,525.32 524,881.73
Scheduled Principal 84,457.60 243,981.24 79,515.06
Unscheduled Principal 787,951.10 3,655,913.01 702,746.82
Scheduled Interest 483,019.03 1,844,544.08 445,366.67
Servicing Fees 31,547.62 133,915.67 29,896.59
Master Servicing Fees 315.48 1,339.16 298.97
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 0.00 0.00 0.00
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 451,155.93 1,709,289.25 415,171.11
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 7.150397 6.381961 6.943452
Group Level Collateral Statement
Group Group IB Sub Grp 2 Group II Sub Grp 1 Group II Sub Grp 2
Collateral Description Mixed ARM Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 6.741008 6.829017 6.300674
Weighted Average Net Rate 6.241008 6.329017 5.800674
Weighted Average Maturity 356 344 356
Beginning Loan Count 1,746 158 461
Loans Paid In Full 15 2 5
Ending Loan Count 1,731 156 456
Beginning Scheduled Balance 325,360,504.71 38,302,203.65 191,638,105.20
Ending scheduled Balance 322,111,960.74 38,172,187.21 189,788,920.20
Record Date 08/31/2004 08/31/2004 08/31/2004
Principal And Interest Constant 2,082,665.92 256,441.93 1,139,022.35
Scheduled Principal 254,951.09 38,469.92 132,814.59
Unscheduled Principal 2,993,592.88 91,546.52 1,716,370.41
Scheduled Interest 1,827,714.83 217,972.01 1,006,207.76
Servicing Fees 135,566.88 15,959.25 79,849.21
Master Servicing Fees 1,355.67 159.59 798.49
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 0.00 0.00 0.00
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 1,690,792.28 201,853.17 925,560.06
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 6.236008 6.324017 5.795674
Group Level Collateral Statement
Group Total
Collateral Description Mixed Fixed & Arm
Weighted Average Coupon Rate 6.824870
Weighted Average Net Rate 6.324870
Weighted Average Maturity 351.00
Record Date 08/31/2004
Principal And Interest Constant 6,659,013.88
Beginning Loan Count 5,770
Loans Paid In Full 58
Ending Loan Count 5,712
Beginning Scheduled Balance 1,024,164,518.64
Ending Scheduled Balance 1,013,382,208.40
Scheduled Principal 834,189.50
Unscheduled Principal 9,948,120.74
Scheduled Interest 5,824,824.38
Servicing Fee 426,735.22
Master Servicing Fee 4,267.36
Trustee Fee 0.00
Fry Amount 0.00
Special Hazard Fee 0.00
Other Fee 0.00
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 5,393,821.80
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Prepayment Penalties 0.00
Special Servicing Fee 0.00
Pass-Through Rate 6.319870