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): December 27, 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
Pooling and Servicing Agreement) (Commission 54-2144736
(State or other File Number) 54-2144737
jurisdiction IRS EIN
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 December 27, 2004 a distribution was made to holders of BANC OF AMERICA
MORTGAGE SECURITIES, INC., Mortgage Pass-Through Certificates, Series 2004-B
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-B Trust, relating to the
December 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.
BANC OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2004-B Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 12/29/04
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 December 27, 2004 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 11/30/04
Distribution Date: 12/27/04
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
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 3.42861% 37,664,173.83 107,613.01 990,448.26
1-A-R 05948X2Z3 SEN 3.50327% 0.00 0.00 0.00
1-A-LR 05948X3A7 SEN 3.50327% 0.00 0.25 0.00
2-A-1 05948X3B5 SEN 3.56999% 77,819,382.25 231,512.02 1,633,929.27
2-A-2 05948X3C3 SEN 4.14799% 410,618,867.45 1,419,369.15 8,621,530.62
B-1 05948X3D1 SUB 3.99815% 9,436,002.53 31,438.78 5,214.47
B-2 05948X3E9 SUB 3.99815% 4,194,000.07 13,973.53 2,317.66
B-3 05948X3F6 SUB 3.99815% 2,795,668.29 9,314.58 1,544.93
B-4 05948X2S9 SUB 3.99815% 1,397,336.52 4,655.63 772.19
B-5 05948X2T7 SUB 3.99815% 1,048,002.39 3,491.72 579.14
B-6 05948X2U4 SUB 3.99815% 1,398,773.67 4,660.42 772.98
1-IO 05948X2W0 SEN 0.63900% 0.00 21,049.93 0.00
2-IO 05948X2X8 SEN 0.31909% 0.00 134,772.62 0.00
SES 05948X2V2 SEN 0.00000% 0.00 96,936.95 0.00
Totals 546,372,207.00 2,078,788.59 11,257,109.52
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 36,673,725.56 1,098,061.27 0.00
1-A-R 0.00 0.00 0.00 0.00
1-A-LR 0.00 0.00 0.25 0.00
2-A-1 0.00 76,185,452.98 1,865,441.29 0.00
2-A-2 0.00 401,997,336.83 10,040,899.77 0.00
B-1 0.00 9,430,788.06 36,653.25 0.00
B-2 0.00 4,191,682.40 16,291.19 0.00
B-3 0.00 2,794,123.37 10,859.51 0.00
B-4 0.00 1,396,564.33 5,427.82 0.00
B-5 0.00 1,047,423.25 4,070.86 0.00
B-6 0.00 1,398,000.68 5,433.40 0.00
1-IO 0.00 0.00 21,049.93 0.00
2-IO 0.00 0.00 134,772.62 0.00
SES 0.00 0.00 96,936.95 0.00
Totals 0.00 535,115,097.46 13,335,898.11 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 37,664,173.83 58,786.00 931,662.26 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 77,819,382.25 35,048.30 1,598,880.97 0.00 0.00
2-A-2 520,000,000.00 410,618,867.45 184,934.56 8,436,596.05 0.00 0.00
B-1 9,481,000.00 9,436,002.53 5,214.47 0.00 0.00 0.00
B-2 4,214,000.00 4,194,000.07 2,317.66 0.00 0.00 0.00
B-3 2,809,000.00 2,795,668.29 1,544.93 0.00 0.00 0.00
B-4 1,404,000.00 1,397,336.52 772.19 0.00 0.00 0.00
B-5 1,053,000.00 1,048,002.39 579.14 0.00 0.00 0.00
B-6 1,405,444.00 1,398,773.67 772.98 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 702,232,544.00 546,372,207.00 289,970.23 10,967,139.28 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-1 990,448.26 36,673,725.56 0.57920820 990,448.26
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 1,633,929.27 76,185,452.98 0.77307180 1,633,929.27
2-A-2 8,621,530.62 401,997,336.83 0.77307180 8,621,530.62
B-1 5,214.47 9,430,788.06 0.99470394 5,214.47
B-2 2,317.66 4,191,682.40 0.99470394 2,317.66
B-3 1,544.93 2,794,123.37 0.99470394 1,544.93
B-4 772.19 1,396,564.33 0.99470394 772.19
B-5 579.14 1,047,423.25 0.99470394 579.14
B-6 772.98 1,398,000.68 0.99470394 772.98
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 11,257,109.52 535,115,097.46 0.76201979 11,257,109.52
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 63,317,000.00 594.85089044 0.92843944 14.71425146 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 98,549,000.00 789.65166821 0.35564339 16.22422318 0.00000000
2-A-2 520,000,000.00 789.65166817 0.35564338 16.22422317 0.00000000
B-1 9,481,000.00 995.25393207 0.54999156 0.00000000 0.00000000
B-2 4,214,000.00 995.25393213 0.54999051 0.00000000 0.00000000
B-3 2,809,000.00 995.25393022 0.54999288 0.00000000 0.00000000
B-4 1,404,000.00 995.25393162 0.54999288 0.00000000 0.00000000
B-5 1,053,000.00 995.25393162 0.54999050 0.00000000 0.00000000
B-6 1,405,444.00 995.25393399 0.54998990 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 15.64269090 579.20819938 0.57920820 15.64269090
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 16.57986656 773.07180164 0.77307180 16.57986656
2-A-2 0.00000000 16.57986658 773.07180160 0.77307180 16.57986658
B-1 0.00000000 0.54999156 994.70394051 0.99470394 0.54999156
B-2 0.00000000 0.54999051 994.70393925 0.99470394 0.54999051
B-3 0.00000000 0.54999288 994.70394090 0.99470394 0.54999288
B-4 0.00000000 0.54999288 994.70393875 0.99470394 0.54999288
B-5 0.00000000 0.54999050 994.70394112 0.99470394 0.54999050
B-6 0.00000000 0.54998990 994.70393698 0.99470394 0.54998990
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 3.42861% 37,664,173.83 107,613.00 0.00 0.00
1-A-R 50.00 3.50327% 0.00 0.00 0.00 0.00
1-A-LR 50.00 3.50327% 0.00 0.00 0.00 0.00
2-A-1 98,549,000.00 3.56999% 77,819,382.25 231,512.02 0.00 0.00
2-A-2 520,000,000.00 4.14799% 410,618,867.45 1,419,369.14 0.00 0.00
B-1 9,481,000.00 3.99815% 9,436,002.53 31,438.78 0.00 0.00
B-2 4,214,000.00 3.99815% 4,194,000.07 13,973.53 0.00 0.00
B-3 2,809,000.00 3.99815% 2,795,668.29 9,314.58 0.00 0.00
B-4 1,404,000.00 3.99815% 1,397,336.52 4,655.63 0.00 0.00
B-5 1,053,000.00 3.99815% 1,048,002.39 3,491.72 0.00 0.00
B-6 1,405,444.00 3.99815% 1,398,773.67 4,660.42 0.00 0.00
1-IO 0.00 0.63900% 39,530,381.56 21,049.93 0.00 0.00
2-IO 0.00 0.31909% 506,841,825.90 134,772.62 0.00 0.00
SES 0.00 0.00000% 546,372,207.46 0.00 0.00 0.00
Totals 702,232,544.00 1,981,851.37 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 0.00 107,613.01 0.00 36,673,725.56
1-A-R 0.00 0.00 0.00 0.00 0.00
1-A-LR 0.00 0.00 0.25 0.00 0.00
2-A-1 0.00 0.00 231,512.02 0.00 76,185,452.98
2-A-2 (0.01) 0.00 1,419,369.15 0.00 401,997,336.83
B-1 0.00 0.00 31,438.78 0.00 9,430,788.06
B-2 0.00 0.00 13,973.53 0.00 4,191,682.40
B-3 0.00 0.00 9,314.58 0.00 2,794,123.37
B-4 0.00 0.00 4,655.63 0.00 1,396,564.33
B-5 0.00 0.00 3,491.72 0.00 1,047,423.25
B-6 0.00 0.00 4,660.42 0.00 1,398,000.68
1-IO 0.00 0.00 21,049.93 0.00 38,537,020.53
2-IO 0.00 0.00 134,772.62 0.00 496,578,077.41
SES 0.00 0.00 96,936.95 0.00 535,115,097.94
Totals (0.01) 0.00 2,078,788.59 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 3.42861% 594.85089044 1.69959095 0.00000000 0.00000000
1-A-R 50.00 3.50327% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 50.00 3.50327% 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 98,549,000.00 3.56999% 789.65166821 2.34920720 0.00000000 0.00000000
2-A-2 520,000,000.00 4.14799% 789.65166817 2.72955604 0.00000000 0.00000000
B-1 9,481,000.00 3.99815% 995.25393207 3.31597722 0.00000000 0.00000000
B-2 4,214,000.00 3.99815% 995.25393213 3.31597769 0.00000000 0.00000000
B-3 2,809,000.00 3.99815% 995.25393022 3.31597722 0.00000000 0.00000000
B-4 1,404,000.00 3.99815% 995.25393162 3.31597578 0.00000000 0.00000000
B-5 1,053,000.00 3.99815% 995.25393162 3.31597341 0.00000000 0.00000000
B-6 1,405,444.00 3.99815% 995.25393399 3.31597702 0.00000000 0.00000000
1-IO 0.00 0.63900% 606.20903923 0.32280634 0.00000000 0.00000000
2-IO 0.00 0.31909% 795.64084675 0.21156620 0.00000000 0.00000000
SES 0.00 0.00000% 778.05025096 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 1.69959111 0.00000000 579.20819938
1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 0.00000000 0.00000000 5.00000000 0.00000000 0.00000000
2-A-1 0.00000000 0.00000000 2.34920720 0.00000000 773.07180164
2-A-2 n (0.00000002) 0.00000000 2.72955606 0.00000000 773.07180160
B-1 0.00000000 0.00000000 3.31597722 0.00000000 994.70394051
B-2 0.00000000 0.00000000 3.31597769 0.00000000 994.70393925
B-3 0.00000000 0.00000000 3.31597722 0.00000000 994.70394090
B-4 0.00000000 0.00000000 3.31597578 0.00000000 994.70393875
B-5 0.00000000 0.00000000 3.31597341 0.00000000 994.70394112
B-6 0.00000000 0.00000000 3.31597702 0.00000000 994.70393698
1-IO 0.00000000 0.00000000 0.32280634 0.00000000 590.97558052
2-IO 0.00000000 0.00000000 0.21156620 0.00000000 779.52880326
SES 0.00000000 0.00000000 0.13804110 0.00000000 762.01979267
<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% 39,530,381.56 38,537,020.53 0.00 0.00 59.09755805%
2-SES 0.00000% 506,841,825.90 496,578,077.41 0.00 0.00 77.95288033%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 13,360,257.22
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 13,360,257.22
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 24,359.11
Payment of Interest and Principal 13,335,898.11
Total Withdrawals (Pool Distribution Amount) 13,360,257.22
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 22,765.51
Trustee Fee - Wells Fargo Bank, N.A. 1,593.60
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 24,359.11
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 6 0 0 0 6
3,602,321.49 0.00 0.00 0.00 3,602,321.49
60 Days 2 0 0 0 2
1,183,299.65 0.00 0.00 0.00 1,183,299.65
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 8 0 0 0 8
4,785,621.14 0.00 0.00 0.00 4,785,621.14
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 0.591716% 0.000000% 0.000000% 0.000000% 0.591716%
0.672881% 0.000000% 0.000000% 0.000000% 0.672881%
60 Days 0.197239% 0.000000% 0.000000% 0.000000% 0.197239%
0.221030% 0.000000% 0.000000% 0.000000% 0.221030%
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 0.788955% 0.000000% 0.000000% 0.000000% 0.788955%
0.893911% 0.000000% 0.000000% 0.000000% 0.893911%
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 1 0 0 0 1
364,991.54 0.00 0.00 0.00 364,991.54
60 Days 1 0 0 0 1
544,063.75 0.00 0.00 0.00 544,063.75
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 2 0 0 0 2
909,055.29 0.00 0.00 0.00 909,055.29
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.282051% 0.000000% 0.000000% 0.000000% 1.282051%
0.945890% 0.000000% 0.000000% 0.000000% 0.945890%
60 Days 1.282051% 0.000000% 0.000000% 0.000000% 1.282051%
1.409962% 0.000000% 0.000000% 0.000000% 1.409962%
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 2.564103% 0.000000% 0.000000% 0.000000% 2.564103%
2.355852% 0.000000% 0.000000% 0.000000% 2.355852%
<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 5 0 0 0 5
3,237,329.95 0.00 0.00 0.00 3,237,329.95
60 Days 1 0 0 0 1
639,235.90 0.00 0.00 0.00 639,235.90
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 6 0 0 0 6
3,876,565.85 0.00 0.00 0.00 3,876,565.85
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.534188% 0.000000% 0.000000% 0.000000% 0.534188%
0.651675% 0.000000% 0.000000% 0.000000% 0.651675%
60 Days 0.106838% 0.000000% 0.000000% 0.000000% 0.106838%
0.128678% 0.000000% 0.000000% 0.000000% 0.128678%
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 0.641026% 0.000000% 0.000000% 0.000000% 0.641026%
0.780354% 0.000000% 0.000000% 0.000000% 0.780354%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 19,438.68
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 4.615294%
Weighted Average Net Coupon 4.356250%
Weighted Average Pass-Through Rate 4.352751%
Weighted Average Maturity(Stepdown Calculation ) 347
Beginning Scheduled Collateral Loan Count 1,034
Number Of Loans Paid In Full 20
Ending Scheduled Collateral Loan Count 1,014
Beginning Scheduled Collateral Balance 546,372,207.46
Ending Scheduled Collateral Balance 535,115,097.94
Ending Actual Collateral Balance at 30-Nov-2004 535,357,496.60
Monthly P &I Constant 2,391,360.74
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 535,115,097.94
Scheduled Principal 289,970.24
Unscheduled Principal 10,967,139.28
<caption>
Miscellaneous Reporting
Total Senior% 96.290114%
Total Subordinate% 3.709886%
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 4.446106 4.628490 4.615294
Weighted Average Net Rate 4.196106 4.378490 4.356250
Weighted Average Maturity 346 349 347
Beginning Loan Count 80 954 1,034
Loans Paid In Full 2 18 20
Ending Loan Count 78 936 1,014
Beginning Scheduled Balance 39,530,381.56 506,841,825.90 546,372,207.46
Ending scheduled Balance 38,537,020.53 496,578,077.41 535,115,097.94
Record Date 11/30/2004 11/30/2004 11/30/2004
Principal And Interest Constant 208,162.32 2,183,198.42 2,391,360.74
Scheduled Principal 61,698.77 228,271.47 289,970.24
Unscheduled Principal 931,662.26 10,035,477.02 10,967,139.28
Scheduled Interest 146,463.55 1,954,926.95 2,101,390.50
Servicing Fees 8,235.49 105,592.05 113,827.54
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 115.30 1,478.30 1,593.60
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 4,117.75 0.00 4,117.75
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 133,995.01 1,847,856.60 1,981,851.61
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 4.067606 4.374990 4.352751
<caption>
Miscellaneous Reporting
Group 1- 3/1 ARM
CPR 24.923154%
Senior Prepayment% 100.000000%
Subordinate% 4.720945%
Subordinate Prepayment% 0.000000%
Senior% 95.279055%
Group 2- 5/1 ARM
CPR 21.344544%
Senior Prepayment% 100.000000%
Subordinate% 3.631030%
Subordinate Prepayment% 0.000000%
Senior% 96.368971%