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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 6, 2004
FINANCIAL ASSET SECURITIES CORP.
(AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT,
DATED AS OF AUGUST 1, 2004, PROVIDING FOR THE ISSUANCE OF
ASSET-BACKED CERTIFICATES, SERIES 2004-2)
Financial Asset Securities Corp.
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(Exact name of registrant as specified in its charter)
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DELAWARE 333-111379 06-1442101
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
600 Steamboat Road
Greenwich, Connecticut 06830
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (203) 625-2700
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Item 8.01. OTHER EVENTS
Description of the Certificates and the Mortgage Pool
On August 6, 2004, a single series of certificates, entitled
Finance America Mortgage Loan Trust 2004-2, Asset-Backed Certificates, Series
2004-2 (the "Certificates"), were issued pursuant to a pooling and servicing
agreement, dated as of August 1, 2004 (the "Agreement"), attached hereto as
Exhibit 4.1, among Financial Asset Securities Corp. as depositor (the
"Depositor"), HomEq Servicing Corporation, as servicer (the "Servicer") and
Deutsche Bank National Trust Company as trustee (the "Trustee"). The
Certificates consist of nineteen classes of certificates (collectively, the
"Certificates"), designated as the "Class I-A1 Certificates", "Class II-A1
Certificates", "Class II-A2 Certificates", "Class II-A3 Certificates", "Class
M-1 Certificates", "Class M-2 Certificates", "Class M-3 Certificates", "Class
M-4 Certificates", "Class M-5 Certificates", "Class M-6 Certificates", "Class
M-7 Certificates", "Class M-8 Certificates", "Class M-9 Certificates", "Class
B-1 Certificates", "Class B-2 Certificates", "Class C Certificates", "Class P
Certificates", "Class R Certificates" and "Class R-X Certificates". The
Certificates evidence in the aggregate the entire beneficial ownership interest
in a trust fund (the "Trust Fund"), consisting of a pool of mortgage loans (the
"Mortgage Pool'") of conventional, one- to four- family, adjustable rate and
fixed rate, first lien mortgage loans having original terms to maturity up to 30
years (the "Mortgage Loans"). The Mortgage Pool consist of Mortgage Loans having
an aggregate principal balance of $705,388,300 as of August 1, 2004 (the
"Cut-off Date"). The Mortgage Loans were purchased pursuant to an Assignment
Agreement, dated August 4, 2004 (the "Assignment Agreement"), among Greenwich
Capital Financial Products, Inc. ("Assignor"), Financial Asset Securities Corp.
("Assignee") and Finance America, LLC (the "Originator"). The Class I-A1
Certificates, Class II-A1 Certificates, Class II-A2 Certificates, Class II-A3
Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3
Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6
Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9
Certificates, Class B-1 Certificates, Class B-2 Certificates, Class R
Certificates and Class R-X Certificates were sold by the Depositor to Greenwich
Capital Markets, Inc. (the "Underwriter"), pursuant to an Underwriting
Agreement, dated August 4, 2004 (the "Underwriting Agreement") among the
Depositor, the Underwriter, Wachovia Capital Markets, LLC and WAMU Capital Corp.
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The Certificates have the following initial Certificate Balances and
Pass-Through Rates:
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Initial Certificate Principal
Class Balance or Notional Amount Pass-Through Rate
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I-A1 $375,737,000.00 Variable
II-A1 $ 39,000,000.00 Variable
II-A2 $123,400,000.00 Variable
II-A3 $ 15,594,000.00 Variable
Class M-1 $ 26,452,000.00 Variable
Class M-2 $ 22,925,000.00 Variable
Class M-3 $ 15,871,000.00 Variable
Class M-4 $ 10,581,000.00 Variable
Class M-5 $ 14,108,000.00 Variable
Class M-6 $ 12,344,000.00 Variable
Class M-7 $ 10,581,000.00 Variable
Class M-8 $ 10,581,000.00 Variable
Class M-9 $ 8,817,000.00 Variable
Class B-1 $ 8,817,000.00 Variable
Class B-2 $ 5,290,000.00 Variable
Class C $ 5,290,200.41 Variable
Class P $ 100.00 N/A
Class R 100.00% N/A
Class R-X 100.00% N/A
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The Certificates, other than the Class C Certificates, the Class P
Certificates, Class B-1 Certificates, Class B-2 Certificates, Class R
Certificates and the Class R-X Certificates, and the Mortgage Loans are more
particularly described in the Prospectus, dated April 23, 2004 and the
Prospectus Supplement, dated August 4, 2004, as previously filed with the
Securities and Exchange Commission pursuant to Rule 424(b). The Class C
Certificates, the Class P Certificates, the Class B-1 Certificates, the Class
B-2 Certificates, the Class R Certificates and the Class R-X Certificates have
not been and will not be publicly offered by the Depositor. Capitalized terms
used but not otherwise defined herein shall have the meanings assigned to them
in the Prospectus Supplement.
Item 9.01. EXHIBITS
(a) Not applicable
(b) Not applicable
(c) Exhibits
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EXHIBIT NO. DESCRIPTION
4.1 Pooling and Servicing Agreement, dated as of August 1,
2004, by and among Financial Asset Securities Corp. as
Depositor, HomEq Servicing Corporation as Servicer and
Deutsche Bank National Trust Company as Trustee, relating
to the Series 2004-2 Certificates.
SIGNATURES
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 thereunto duly authorized.
Dated: August 23, 2004
FINANCIAL ASSET SECURITIES CORP.
By: /s/ Frank Skibo
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Name: Frank Skibo
Title: SVP
INDEX TO EXHIBITS
Sequentially
Exhibit No. Description Numbered Page
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4.1 Pooling and Servicing Agreement, dated as of August 7
1, 2004, by and among Financial Asset Securities
Corp. as Depositor, HomEq Servicing Corporation as
Servicer and Deutsche Bank National Trust Company
as Trustee, relating to the Series 2004-2 Certificates.