UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 26, 2004
FIRST FRANKLIN MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2004-FFH3 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-111379-25 54-2161198
Pooling and Servicing Agreement) (Commission 54-2161199
(State or other File Number) 54-2161200
jurisdiction 54-2161201
of Incorporation) 54-2161202
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
Subsequent to filing the 8-K relating to the payment date on November 26, 2004,
a revision was made to the FIRST FRANKLIN MORTGAGE LOAN TRUST, Asset Backed
Certificates, Series 2004-FFH3 which was not included in the original 8-K filed.
The 8-K is being amended because an additional page of reporting was added. This
revision was not previously disclosed in a 1934 Act filing. The revised data has
been and will continue to be available on the Wells Fargo Bank, website at
www.ctslink.com.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Amended monthly report distributed to holders
of Asset Backed Certificates, Series 2004-FFH3
Trust, relating to the November 26, 2004
distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST FRANKLIN MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2004-FFH3 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: 2/1/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Amended monthly report distributed to holders of Asset
Backed Certificates, Series 2004-FFH3 Trust, relating to
the November 26, 2004 distribution.
EX-99.1
First Franklin Mortgage Loan Trust
Asset Backed Certificates
Record Date: 10/31/2004
Distribution Date: 11/26/2004
First Franklin Mortgage Loan Trust
Asset Backed Certificates
Series 2004-FFH3
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>
R RES 0.00000% 0.00 0.00 0.00
IA1 32027NLL3 SEN 2.28250% 447,036,405.35 906,987.20 2,906,202.49
IA2 32027NMD0 SEN 2.48250% 50,000,000.00 110,333.33 0.00
IIA1 32027NLM1 SEN 2.31250% 345,065,267.18 709,300.83 2,007,731.13
IIA2 32027NLN9 SEN 2.06250% 114,490,267.18 209,898.82 2,007,731.13
IIA3 32027NLP4 SEN 2.29250% 199,800,000.00 407,148.00 0.00
IIA4 32027NLQ2 SEN 2.47250% 30,775,000.00 67,636.61 0.00
M1 32027NLR0 MEZ 2.51250% 71,250,000.00 159,125.00 0.00
M2 32027NLS8 MEZ 2.55250% 45,750,000.00 103,801.67 0.00
M3 32027NLT6 MEZ 2.63250% 26,250,000.00 61,425.00 0.00
M4 32027NLU3 MEZ 3.00250% 22,500,000.00 60,050.00 0.00
M5 32027NLV1 MEZ 3.08250% 22,500,000.00 61,650.00 0.00
M6 32027NLW9 MEZ 3.28250% 18,750,000.00 54,708.33 0.00
M7 32027NLX7 MEZ 3.73250% 18,750,000.00 62,208.33 0.00
M8 32027NLY5 MEZ 3.83250% 15,750,000.00 53,655.00 0.00
M9 32027NLZ2 MEZ 5.43250% 15,000,000.00 72,433.33 0.00
B1 32027NMA6 SUB 5.43250% 18,750,000.00 90,541.67 0.00
B2 32027NMB4 SUB 5.43250% 15,000,000.00 72,433.33 0.00
C FFM04FH3C SEN 0.00000% 15,000,000.00 2,209,814.18 0.00
P FFM04FH3P SEN 0.00000% 100.00 57,075.69 0.00
RX SEN 0.00000% 0.00 0.00 0.00
Totals 1,492,417,039.71 5,530,226.32 6,921,664.75
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
R 0.00 0.00 0.00 0.00
IA1 0.00 444,130,202.86 3,813,189.69 0.00
IA2 0.00 50,000,000.00 110,333.33 0.00
IIA1 0.00 343,057,536.05 2,717,031.96 0.00
IIA2 0.00 112,482,536.05 2,217,629.95 0.00
IIA3 0.00 199,800,000.00 407,148.00 0.00
IIA4 0.00 30,775,000.00 67,636.61 0.00
M1 0.00 71,250,000.00 159,125.00 0.00
M2 0.00 45,750,000.00 103,801.67 0.00
M3 0.00 26,250,000.00 61,425.00 0.00
M4 0.00 22,500,000.00 60,050.00 0.00
M5 0.00 22,500,000.00 61,650.00 0.00
M6 0.00 18,750,000.00 54,708.33 0.00
M7 0.00 18,750,000.00 62,208.33 0.00
M8 0.00 15,750,000.00 53,655.00 0.00
M9 0.00 15,000,000.00 72,433.33 0.00
B1 0.00 18,750,000.00 90,541.67 0.00
B2 0.00 15,000,000.00 72,433.33 0.00
C 0.00 15,000,000.00 2,209,814.18 0.00
P 0.00 100.00 57,075.69 0.00
RX 0.00 0.00 0.00 0.00
Totals 0.00 1,485,495,374.96 12,451,891.07 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>
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
IA1 450,000,000.00 447,036,405.35 189,494.48 2,716,708.01 0.00 0.00
IA2 50,000,000.00 50,000,000.00 0.00 0.00 0.00 0.00
IIA1 347,375,000.00 345,065,267.18 109,880.65 1,897,850.48 0.00 0.00
IIA2 116,800,000.00 114,490,267.18 109,880.66 1,897,850.48 0.00 0.00
IIA3 199,800,000.00 199,800,000.00 0.00 0.00 0.00 0.00
IIA4 30,775,000.00 30,775,000.00 0.00 0.00 0.00 0.00
M1 71,250,000.00 71,250,000.00 0.00 0.00 0.00 0.00
M2 45,750,000.00 45,750,000.00 0.00 0.00 0.00 0.00
M3 26,250,000.00 26,250,000.00 0.00 0.00 0.00 0.00
M4 22,500,000.00 22,500,000.00 0.00 0.00 0.00 0.00
M5 22,500,000.00 22,500,000.00 0.00 0.00 0.00 0.00
M6 18,750,000.00 18,750,000.00 0.00 0.00 0.00 0.00
M7 18,750,000.00 18,750,000.00 0.00 0.00 0.00 0.00
M8 15,750,000.00 15,750,000.00 0.00 0.00 0.00 0.00
M9 15,000,000.00 15,000,000.00 0.00 0.00 0.00 0.00
B1 18,750,000.00 18,750,000.00 0.00 0.00 0.00 0.00
B2 15,000,000.00 15,000,000.00 0.00 0.00 0.00 0.00
C 14,999,900.00 15,000,000.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
RX 0.00 0.00 0.00 0.00 0.00 0.00
Totals 1,500,000,000.00 1,492,417,039.71 409,255.79 6,512,408.97 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>
R 0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00000000 0.00
IA1 2,906,202.49 444,130,202.86 0.98695601 2,906,202.49
IA2 0.00 50,000,000.00 1.00000000 0.00
IIA1 2,007,731.13 343,057,536.05 0.98757117 2,007,731.13
IIA2 2,007,731.13 112,482,536.05 0.96303541 2,007,731.13
IIA3 0.00 199,800,000.00 1.00000000 0.00
IIA4 0.00 30,775,000.00 1.00000000 0.00
M1 0.00 71,250,000.00 1.00000000 0.00
M2 0.00 45,750,000.00 1.00000000 0.00
M3 0.00 26,250,000.00 1.00000000 0.00
M4 0.00 22,500,000.00 1.00000000 0.00
M5 0.00 22,500,000.00 1.00000000 0.00
M6 0.00 18,750,000.00 1.00000000 0.00
M7 0.00 18,750,000.00 1.00000000 0.00
M8 0.00 15,750,000.00 1.00000000 0.00
M9 0.00 15,000,000.00 1.00000000 0.00
B1 0.00 18,750,000.00 1.00000000 0.00
B2 0.00 15,000,000.00 1.00000000 0.00
C 0.00 15,000,000.00 1.00000667 0.00
P 0.00 100.00 1.00000000 0.00
RX 0.00 0.00 0.00000000 0.00
Totals 6,921,664.75 1,485,495,374.96 0.99033025 6,921,664.75
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>
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
IA1 450,000,000.00 993.41423411 0.42109884 6.03712891 0.00000000
IA2 50,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
IIA1 347,375,000.00 993.35089508 0.31631709 5.46340548 0.00000000
IIA2 116,800,000.00 980.22489024 0.94075908 16.24871986 0.00000000
IIA3 199,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
IIA4 30,775,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M1 71,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M2 45,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M3 26,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M4 22,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M5 22,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M6 18,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M7 18,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M8 15,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M9 15,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B1 18,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B2 15,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
C 14,999,900.00 1000.00666671 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
RX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All Classes are per $25,000 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>
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
IA1 0.00000000 6.45822776 986.95600636 0.98695601 6.45822776
IA2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IIA1 0.00000000 5.77972258 987.57117251 0.98757117 5.77972258
IIA2 0.00000000 17.18947885 963.03541139 0.96303541 17.18947885
IIA3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IIA4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
C 0.00000000 0.00000000 1,000.00666671 1.00000667 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
RX 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>
R 0.00 0.00000% 0.00 0.00 0.00 0.00
IA1 450,000,000.00 2.28250% 447,036,405.35 906,987.20 0.00 0.00
IA2 50,000,000.00 2.48250% 50,000,000.00 110,333.33 0.00 0.00
IIA1 347,375,000.00 2.31250% 345,065,267.18 709,300.83 0.00 0.00
IIA2 116,800,000.00 2.06250% 114,490,267.18 209,898.82 0.00 0.00
IIA3 199,800,000.00 2.29250% 199,800,000.00 407,148.00 0.00 0.00
IIA4 30,775,000.00 2.47250% 30,775,000.00 67,636.61 0.00 0.00
M1 71,250,000.00 2.51250% 71,250,000.00 159,125.00 0.00 0.00
M2 45,750,000.00 2.55250% 45,750,000.00 103,801.67 0.00 0.00
M3 26,250,000.00 2.63250% 26,250,000.00 61,425.00 0.00 0.00
M4 22,500,000.00 3.00250% 22,500,000.00 60,050.00 0.00 0.00
M5 22,500,000.00 3.08250% 22,500,000.00 61,650.00 0.00 0.00
M6 18,750,000.00 3.28250% 18,750,000.00 54,708.33 0.00 0.00
M7 18,750,000.00 3.73250% 18,750,000.00 62,208.33 0.00 0.00
M8 15,750,000.00 3.83250% 15,750,000.00 53,655.00 0.00 0.00
M9 15,000,000.00 5.43250% 15,000,000.00 72,433.33 0.00 0.00
B1 18,750,000.00 5.43250% 18,750,000.00 90,541.67 0.00 0.00
B2 15,000,000.00 5.43250% 15,000,000.00 72,433.33 0.00 0.00
C 14,999,900.00 0.00000% 15,000,000.00 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
RX 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 1,500,000,000.00 3,263,336.45 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>
R 0.00 0.00 0.00 0.00 0.00
IA1 0.00 0.00 906,987.20 0.00 444,130,202.86
IA2 0.00 0.00 110,333.33 0.00 50,000,000.00
IIA1 0.00 0.00 709,300.83 0.00 343,057,536.05
IIA2 0.00 0.00 209,898.82 0.00 112,482,536.05
IIA3 0.00 0.00 407,148.00 0.00 199,800,000.00
IIA4 0.00 0.00 67,636.61 0.00 30,775,000.00
M1 0.00 0.00 159,125.00 0.00 71,250,000.00
M2 0.00 0.00 103,801.67 0.00 45,750,000.00
M3 0.00 0.00 61,425.00 0.00 26,250,000.00
M4 0.00 0.00 60,050.00 0.00 22,500,000.00
M5 0.00 0.00 61,650.00 0.00 22,500,000.00
M6 0.00 0.00 54,708.33 0.00 18,750,000.00
M7 0.00 0.00 62,208.33 0.00 18,750,000.00
M8 0.00 0.00 53,655.00 0.00 15,750,000.00
M9 0.00 0.00 72,433.33 0.00 15,000,000.00
B1 0.00 0.00 90,541.67 0.00 18,750,000.00
B2 0.00 0.00 72,433.33 0.00 15,000,000.00
C 0.00 0.00 2,209,814.18 0.00 15,000,000.00
P 0.00 0.00 57,075.69 0.00 100.00
RX 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 5,530,226.32 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>
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
IA1 450,000,000.00 2.28250% 993.41423411 2.01552711 0.00000000 0.00000000
IA2 50,000,000.00 2.48250% 1000.00000000 2.20666660 0.00000000 0.00000000
IIA1 347,375,000.00 2.31250% 993.35089508 2.04188796 0.00000000 0.00000000
IIA2 116,800,000.00 2.06250% 980.22489024 1.79707894 0.00000000 0.00000000
IIA3 199,800,000.00 2.29250% 1000.00000000 2.03777778 0.00000000 0.00000000
IIA4 30,775,000.00 2.47250% 1000.00000000 2.19777774 0.00000000 0.00000000
M1 71,250,000.00 2.51250% 1000.00000000 2.23333333 0.00000000 0.00000000
M2 45,750,000.00 2.55250% 1000.00000000 2.26888896 0.00000000 0.00000000
M3 26,250,000.00 2.63250% 1000.00000000 2.34000000 0.00000000 0.00000000
M4 22,500,000.00 3.00250% 1000.00000000 2.66888889 0.00000000 0.00000000
M5 22,500,000.00 3.08250% 1000.00000000 2.74000000 0.00000000 0.00000000
M6 18,750,000.00 3.28250% 1000.00000000 2.91777760 0.00000000 0.00000000
M7 18,750,000.00 3.73250% 1000.00000000 3.31777760 0.00000000 0.00000000
M8 15,750,000.00 3.83250% 1000.00000000 3.40666667 0.00000000 0.00000000
M9 15,000,000.00 5.43250% 1000.00000000 4.82888867 0.00000000 0.00000000
B1 18,750,000.00 5.43250% 1000.00000000 4.82888907 0.00000000 0.00000000
B2 15,000,000.00 5.43250% 1000.00000000 4.82888867 0.00000000 0.00000000
C 14,999,900.00 0.00000% 1000.00666671 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
RX 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All Classes are per $25,000 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>
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
IA1 0.00000000 0.00000000 2.01552711 0.00000000 986.95600636
IA2 0.00000000 0.00000000 2.20666660 0.00000000 1000.00000000
IIA1 0.00000000 0.00000000 2.04188796 0.00000000 987.57117251
IIA2 0.00000000 0.00000000 1.79707894 0.00000000 963.03541139
IIA3 0.00000000 0.00000000 2.03777778 0.00000000 1000.00000000
IIA4 0.00000000 0.00000000 2.19777774 0.00000000 1000.00000000
M1 0.00000000 0.00000000 2.23333333 0.00000000 1000.00000000
M2 0.00000000 0.00000000 2.26888896 0.00000000 1000.00000000
M3 0.00000000 0.00000000 2.34000000 0.00000000 1000.00000000
M4 0.00000000 0.00000000 2.66888889 0.00000000 1000.00000000
M5 0.00000000 0.00000000 2.74000000 0.00000000 1000.00000000
M6 0.00000000 0.00000000 2.91777760 0.00000000 1000.00000000
M7 0.00000000 0.00000000 3.31777760 0.00000000 1000.00000000
M8 0.00000000 0.00000000 3.40666667 0.00000000 1000.00000000
M9 0.00000000 0.00000000 4.82888867 0.00000000 1000.00000000
B1 0.00000000 0.00000000 4.82888907 0.00000000 1000.00000000
B2 0.00000000 0.00000000 4.82888867 0.00000000 1000.00000000
C 0.00000000 0.00000000 147.32192748 0.00000000 1000.00666671
P 0.00000000 0.00000000 570756.90000000 0.00000000 1000.00000000
RX 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 12,789,604.72
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 57,075.69
Total Deposits 12,846,680.41
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 394,789.34
Payment of Interest and Principal 12,451,891.07
Total Withdrawals (Pool Distribution Amount) 12,846,680.41
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 390,880.56
Trustee Fee 3,908.78
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 394,789.34
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 0.00 62,210.08 62,210.08 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 9 0 0 0 9
1,166,001.94 0.00 0.00 0.00 1,166,001.94
60 Days 1 0 0 0 1
182,491.25 0.00 0.00 0.00 182,491.25
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 10 0 0 0 10
1,348,493.19 0.00 0.00 0.00 1,348,493.19
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 0.166728% 0.000000% 0.000000% 0.000000% 0.166728%
0.125216% 0.000000% 0.000000% 0.000000% 0.125216%
60 Days 0.018525% 0.000000% 0.000000% 0.000000% 0.018525%
0.019598% 0.000000% 0.000000% 0.000000% 0.019598%
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 0.185254% 0.000000% 0.000000% 0.000000% 0.185254%
0.144814% 0.000000% 0.000000% 0.000000% 0.144814%
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 7.506213%
Weighted Average Net Coupon 7.006213%
Weighted Average Pass-Through Rate 7.001213%
Weighted Average Maturity(Stepdown Calculation ) 355
Beginning Scheduled Collateral Loan Count 5,426
Number Of Loans Paid In Full 28
Ending Scheduled Collateral Loan Count 5,398
Beginning Scheduled Collateral Balance 938,113,418.72
Ending Scheduled Collateral Balance 931,191,754.11
Ending Actual Collateral Balance at 31-Oct-2004 931,191,754.11
Monthly P &I Constant 6,277,321.46
Special Servicing Fee 0.00
Prepayment Penalties 57,075.69
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 931,191,754.11
Scheduled Principal 409,255.79
Unscheduled Principal 6,512,408.82
Miscellaneous Reporting
Group I Prefunding Account 231,974,731.38
Group II Prefunding Account 322,328,888.88
Overcollateralized Deficiency Amount 0.00
Credit Enhancement Percentage 20.4534%
Excess Cash Amount 0.00
Extra Principal Distribution 0.14
Overcollateralized Amount 15,000,000.00
Overcollateralization Target Amount 15,000,000.00
Overcollateralization Deficiency Amount 0.14
Overcollateralization Release Amount 0.00
Overcollateralized Increase Amount 0.14
Overcollateralized Reduction Amount 0.00
Trigger Event Not in Trigger
Stepdown Not in Stepdown
Dividend Account Deposits 0.00
Dividend Account Withdrawals 0.00
Dividend Account Balance 0.00
Solider Sailor Adjustment 125.47
Cap Payment 0.00
Miscellaneous Bond Adjustment 0.00
Next Month A-1 Coupon Rate 2.530%
Next Month A-2 Coupon Rate 2.730%
Next Month II-A1 Coupon Rate 2.560%
Next Month II-A2 Coupon Rate 2.310%
Next Month II-A3 Coupon Rate 2.540%
Next Month II-A4 Coupon Rate 2.720%
Next Month M-1 Coupon Rate 2.720%
Next Month M-2 Coupon Rate 2.760%
Next Month M-3 Coupon Rate 2.800%
Next Month M-4 Coupon Rate 2.880%
Next Month M-5 Coupon Rate 3.330%
Next Month M-6 Coupon Rate 3.530%
Next Month M-7 Coupon Rate 3.980%
Next Month M-8 Coupon Rate 4.080%
Next Month M-9 Coupon Rate 5.680%
Next Month B-1 Coupon Rate 5.680%
Next Month B-2 Coupon Rate 5.680%
Group Level Collateral Statement
Group Group 1 Group 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 7.632952 7.414916 7.506213
Weighted Average Net Rate 7.132952 6.914916 7.006213
Weighted Average Maturity 355 355 355
Beginning Loan Count 2,645 2,781 5,426
Loans Paid In Full 11 17 28
Ending Loan Count 2,634 2,764 5,398
Beginning Scheduled Balance 392,808,103.54 545,305,315.18 938,113,418.72
Ending scheduled Balance 389,901,901.11 541,289,853.00 931,191,754.11
Record Date 10/31/2004 10/31/2004 10/31/2004
Principal And Interest Constant 2,688,065.75 3,589,255.71 6,277,321.46
Scheduled Principal 189,494.48 219,761.31 409,255.79
Unscheduled Principal 2,716,707.95 3,795,700.87 6,512,408.82
Scheduled Interest 2,498,571.27 3,369,494.40 5,868,065.67
Servicing Fees 163,670.02 227,210.54 390,880.56
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,636.70 2,272.08 3,908.78
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 2,333,264.55 3,140,011.78 5,473,276.33
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 7.127952 6.909916 7.001213