-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, T0BqiaWwhWdNMbNlaDQ4cuypf/sOoJlkrw47Eft5IEuRApl4vOgDuqjrEvbKY5MX cAStoGCR6MetKfwdoKCz9w== 0001056404-04-004265.txt : 20041203 0001056404-04-004265.hdr.sgml : 20041203 20041203151717 ACCESSION NUMBER: 0001056404-04-004265 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041126 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041203 DATE AS OF CHANGE: 20041203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERRILL LYNCH MORT INV FIELDSTONE MORT INV TR SER 2004-1 CENTRAL INDEX KEY: 0001279846 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 135674085 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-106175-14 FILM NUMBER: 041183560 BUSINESS ADDRESS: STREET 1: 4LD FINANCIAL CENTER FLOOR 10 CITY: NEW YORK STATE: NY ZIP: 10281-1310 MAIL ADDRESS: STREET 1: 4 LD FINANCIAL CENTER STREET 2: 10TH FL CITY: NEW YORK STATE: NY ZIP: 10281-1310 8-K 1 fld04001_nov.txt NOVEMBER 8K 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): November 26, 2004 FIELDSTONE MORTGAGE INVESTMENT TRUST Mortgage-Backed Securities, Series 2004-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106175-14 N/A Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) 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 November 26, 2004 a distribution was made to holders of FIELDSTONE MORTGAGE INVESTMENT TRUST, Mortgage-Backed Securities, Series 2004-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Securities, Series 2004-1 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. FIELDSTONE MORTGAGE INVESTMENT TRUST Mortgage-Backed Securities, Series 2004-1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trust Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 11/27/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Securities, Series 2004-1 Trust, relating to the November 26, 2004 distribution. EX-99.1
Fieldstone Mortgage Company Mortgage Pass-Through Certificates Record Date: 10/31/2004 Distribution Date: 11/26/2004 FLD Series: 2004-1 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 1-A 31659TAL9 SEN 2.24750% 357,986,511.87 715,177.51 22,414,684.96 2-A 31659TAN5 SEN 2.22250% 82,858,189.13 163,690.96 6,045,001.32 A-IO 31659TAP0 SEN 6.00000% 0.00 469,586.28 0.00 S 31659TAM7 SEN 0.06750% 0.00 33,150.40 0.00 M1 31659TAQ8 MEZ 2.48250% 41,873,000.00 92,399.76 0.00 M2 31659TAR6 MEZ 3.03250% 32,341,000.00 87,176.96 0.00 M3 31659TAS4 MEZ 3.38250% 8,511,000.00 25,589.74 0.00 M4 31659TAT2 MEZ 3.58250% 11,915,000.00 37,942.66 0.00 M5 31659TAU9 MEZ 3.73250% 6,809,000.00 22,590.75 0.00 M6 31659TAV7 MEZ 5.18250% 10,213,000.00 47,047.89 0.00 Owner Cert FIELDS041OTC SEN 0.00000% 0.00 2,022,661.70 0.00 Totals 552,506,701.00 3,717,014.61 28,459,686.28
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A 0.00 335,571,826.91 23,129,862.47 0.00 2-A 0.00 76,813,187.81 6,208,692.28 0.00 A-IO 0.00 0.00 469,586.28 0.00 S 0.00 0.00 33,150.40 0.00 M1 0.00 41,873,000.00 92,399.76 0.00 M2 0.00 32,341,000.00 87,176.96 0.00 M3 0.00 8,511,000.00 25,589.74 0.00 M4 0.00 11,915,000.00 37,942.66 0.00 M5 0.00 6,809,000.00 22,590.75 0.00 M6 0.00 10,213,000.00 47,047.89 0.00 Owner Cert 0.00 0.00 2,022,661.70 0.00 Totals 0.00 524,047,014.72 32,176,700.89 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) 1-A 437,672,000.00 357,986,511.87 0.00 22,414,684.96 0.00 0.00 2-A 113,823,000.00 82,858,189.13 0.00 6,045,001.32 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 S 0.00 0.00 0.00 0.00 0.00 0.00 M1 41,873,000.00 41,873,000.00 0.00 0.00 0.00 0.00 M2 32,341,000.00 32,341,000.00 0.00 0.00 0.00 0.00 M3 8,511,000.00 8,511,000.00 0.00 0.00 0.00 0.00 M4 11,915,000.00 11,915,000.00 0.00 0.00 0.00 0.00 M5 6,809,000.00 6,809,000.00 0.00 0.00 0.00 0.00 M6 10,213,000.00 10,213,000.00 0.00 0.00 0.00 0.00 Owner Cert 0.00 0.00 0.00 0.00 0.00 0.00 Totals 663,157,000.00 552,506,701.00 0.00 28,459,686.28 0.00 0.00 (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.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution 1-A 22,414,684.96 335,571,826.91 0.76671989 22,414,684.96 2-A 6,045,001.32 76,813,187.81 0.67484768 6,045,001.32 A-IO 0.00 0.00 0.00000000 0.00 S 0.00 0.00 0.00000000 0.00 M1 0.00 41,873,000.00 1.00000000 0.00 M2 0.00 32,341,000.00 1.00000000 0.00 M3 0.00 8,511,000.00 1.00000000 0.00 M4 0.00 11,915,000.00 1.00000000 0.00 M5 0.00 6,809,000.00 1.00000000 0.00 M6 0.00 10,213,000.00 1.00000000 0.00 Owner Cert 0.00 0.00 0.00000000 0.00 Totals 28,459,686.28 524,047,014.72 0.79023069 28,459,686.28
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A 437,672,000.00 817.93331963 0.00000000 51.21343143 0.00000000 2-A 113,823,000.00 727.95646864 0.00000000 53.10878575 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 41,873,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 32,341,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 8,511,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 11,915,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 6,809,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 10,213,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 Owner Cert 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination.
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution 1-A 0.00000000 51.21343143 766.71988820 0.76671989 51.21343143 2-A 0.00000000 53.10878575 674.84768289 0.67484768 53.10878575 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00000000 0.00000000 0.00000000 0.00000000 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 Owner Cert 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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.
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 1-A 437,672,000.00 2.24750% 357,986,511.87 715,177.50 0.00 0.00 2-A 113,823,000.00 2.22250% 82,858,189.13 163,690.96 0.00 0.00 A-IO 0.00 6.00000% 93,917,254.05 469,586.27 0.00 0.00 S 0.00 0.06750% 552,506,701.00 33,150.40 0.00 0.00 M1 41,873,000.00 2.48250% 41,873,000.00 92,399.75 0.00 0.00 M2 32,341,000.00 3.03250% 32,341,000.00 87,176.96 0.00 0.00 M3 8,511,000.00 3.38250% 8,511,000.00 25,589.74 0.00 0.00 M4 11,915,000.00 3.58250% 11,915,000.00 37,942.66 0.00 0.00 M5 6,809,000.00 3.73250% 6,809,000.00 22,590.75 0.00 0.00 M6 10,213,000.00 5.18250% 10,213,000.00 47,047.89 0.00 0.00 Owner Cert 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 663,157,000.00 1,694,352.88 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 1-A (0.02) 0.00 715,177.51 0.00 335,571,826.91 2-A 0.00 0.00 163,690.96 0.00 76,813,187.81 A-IO (0.01) 0.00 469,586.28 0.00 86,985,606.97 S 0.00 0.00 33,150.40 0.00 524,047,014.72 M1 0.00 0.00 92,399.76 0.00 41,873,000.00 M2 0.00 0.00 87,176.96 0.00 32,341,000.00 M3 0.00 0.00 25,589.74 0.00 8,511,000.00 M4 0.00 0.00 37,942.66 0.00 11,915,000.00 M5 0.00 0.00 22,590.75 0.00 6,809,000.00 M6 0.00 0.00 47,047.89 0.00 10,213,000.00 Owner Cert 0.00 0.00 2,022,661.70 0.00 0.00 Totals (0.03) 0.00 3,717,014.61 0.00 (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.
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 1-A 437,672,000.00 2.24750% 817.93331963 1.63404901 0.00000000 0.00000000 2-A 113,823,000.00 2.22250% 727.95646864 1.43811848 0.00000000 0.00000000 A-IO 0.00 6.00000% 501.59856727 2.50799284 0.00000000 0.00000000 S 0.00 0.06750% 833.14614940 0.04998877 0.00000000 0.00000000 M1 41,873,000.00 2.48250% 1000.00000000 2.20666659 0.00000000 0.00000000 M2 32,341,000.00 3.03250% 1000.00000000 2.69555549 0.00000000 0.00000000 M3 8,511,000.00 3.38250% 1000.00000000 3.00666667 0.00000000 0.00000000 M4 11,915,000.00 3.58250% 1000.00000000 3.18444482 0.00000000 0.00000000 M5 6,809,000.00 3.73250% 1000.00000000 3.31777794 0.00000000 0.00000000 M6 10,213,000.00 5.18250% 1000.00000000 4.60666699 0.00000000 0.00000000 Owner Cert 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denomination.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance 1-A (0.00000005) 0.00000000 1.63404904 0.00000000 766.71988820 2-A 0.00000000 0.00000000 1.43811848 0.00000000 674.84768289 A-IO (0.00000005) 0.00000000 2.50799289 0.00000000 464.57763561 S 0.00000000 0.00000000 0.04998877 0.00000000 790.23069156 M1 0.00000000 0.00000000 2.20666683 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.69555549 0.00000000 1000.00000000 M3 0.00000000 0.00000000 3.00666667 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.18444482 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.31777794 0.00000000 1000.00000000 M6 0.00000000 0.00000000 4.60666699 0.00000000 1000.00000000 Owner Cert 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 32,429,175.87 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) (14,887.92) Prepayment Penalties 0.00 Total Deposits 32,414,287.95 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 237,587.06 Payment of Interest and Principal 32,176,700.89 Total Withdrawals (Pool Distribution Amount) 32,414,287.95 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 237,587.06 Indenture Trustee Fee - HSBC Bank USA 0.00 Owner Trustee Fee - US Bank Trust NA 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 237,587.06
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance SWAP Counterparty Account 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 15 0 0 15 2,299,974.74 0.00 0.00 2,299,974.74 30 Days 21 1 0 0 22 3,168,429.27 93,500.00 0.00 0.00 3,261,929.27 60 Days 11 2 1 0 14 1,402,732.30 161,054.25 265,999.92 0.00 1,829,786.47 90 Days 4 1 5 0 10 679,928.12 38,999.99 646,614.96 0.00 1,365,543.07 120 Days 2 3 8 0 13 509,179.11 355,222.86 1,026,993.17 0.00 1,891,395.14 150 Days 0 2 4 0 6 0.00 190,322.13 530,016.80 0.00 720,338.93 180+ Days 0 1 8 5 14 0.00 168,666.92 667,665.10 951,060.49 1,787,392.51 Totals 38 25 26 5 94 5,760,268.80 3,307,740.89 3,137,289.95 951,060.49 13,156,360.13 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 0.521921% 0.000000% 0.000000% 0.521921% 0.424482% 0.000000% 0.000000% 0.424482% 30 Days 0.730689% 0.034795% 0.000000% 0.000000% 0.765484% 0.584763% 0.017256% 0.000000% 0.000000% 0.602020% 60 Days 0.382742% 0.069589% 0.034795% 0.000000% 0.487126% 0.258887% 0.029724% 0.049093% 0.000000% 0.337704% 90 Days 0.139179% 0.034795% 0.173974% 0.000000% 0.347947% 0.125487% 0.007198% 0.119339% 0.000000% 0.252024% 120 Days 0.069589% 0.104384% 0.278358% 0.000000% 0.452331% 0.093974% 0.065560% 0.189541% 0.000000% 0.349075% 150 Days 0.000000% 0.069589% 0.139179% 0.000000% 0.208768% 0.000000% 0.035126% 0.097820% 0.000000% 0.132945% 180+ Days 0.000000% 0.034795% 0.278358% 0.173974% 0.487126% 0.000000% 0.031129% 0.123224% 0.175527% 0.329880% Totals 1.322199% 0.869868% 0.904662% 0.173974% 3.270703% 1.063112% 0.610475% 0.579016% 0.175527% 2.428130%
Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 15 0 0 15 2,299,974.74 0.00 0.00 2,299,974.74 30 Days 20 1 0 0 21 2,829,279.27 93,500.00 0.00 0.00 2,922,779.27 60 Days 10 2 1 0 13 980,903.82 161,054.25 265,999.92 0.00 1,407,957.99 90 Days 4 1 4 0 9 679,928.12 38,999.99 314,240.67 0.00 1,033,168.78 120 Days 1 3 8 0 12 130,079.11 355,222.86 1,026,993.17 0.00 1,512,295.14 150 Days 0 2 4 0 6 0.00 190,322.13 530,016.80 0.00 720,338.93 180 Days 0 1 8 5 14 0.00 168,666.92 667,665.10 951,060.49 1,787,392.51 Totals 35 25 25 5 90 4,620,190.32 3,307,740.89 2,804,915.66 951,060.49 11,683,907.36 0-29 Days 0.573833% 0.000000% 0.000000% 0.573833% 0.524741% 0.000000% 0.000000% 0.524741% 30 Days 0.765111% 0.038256% 0.000000% 0.000000% 0.803366% 0.645502% 0.021332% 0.000000% 0.000000% 0.666834% 60 Days 0.382555% 0.076511% 0.038256% 0.000000% 0.497322% 0.223794% 0.036745% 0.060688% 0.000000% 0.321227% 90 Days 0.153022% 0.038256% 0.153022% 0.000000% 0.344300% 0.155126% 0.008898% 0.071694% 0.000000% 0.235718% 120 Days 0.038256% 0.114767% 0.306044% 0.000000% 0.459067% 0.029678% 0.081044% 0.234309% 0.000000% 0.345031% 150 Days 0.000000% 0.076511% 0.153022% 0.000000% 0.229533% 0.000000% 0.043422% 0.120924% 0.000000% 0.164346% 180 Days 0.000000% 0.038256% 0.306044% 0.191278% 0.535578% 0.000000% 0.038481% 0.152328% 0.216985% 0.407795% Totals 1.338944% 0.956389% 0.956389% 0.191278% 3.442999% 1.054100% 0.754663% 0.639943% 0.216985% 2.665691% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 1 339,150.00 0.00 0.00 0.00 339,150.00 60 Days 1 0 0 0 1 421,828.48 0.00 0.00 0.00 421,828.48 90 Days 0 0 1 0 1 0.00 0.00 332,374.29 0.00 332,374.29 120 Days 1 0 0 0 1 379,100.00 0.00 0.00 0.00 379,100.00 150 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 1 0 4 1,140,078.48 0.00 332,374.29 0.00 1,472,452.77 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.384615% 0.000000% 0.000000% 0.000000% 0.384615% 0.327605% 0.000000% 0.000000% 0.000000% 0.327605% 60 Days 0.384615% 0.000000% 0.000000% 0.000000% 0.384615% 0.407469% 0.000000% 0.000000% 0.000000% 0.407469% 90 Days 0.000000% 0.000000% 0.384615% 0.000000% 0.384615% 0.000000% 0.000000% 0.321060% 0.000000% 0.321060% 120 Days 0.384615% 0.000000% 0.000000% 0.000000% 0.384615% 0.366195% 0.000000% 0.000000% 0.000000% 0.366195% 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 1.153846% 0.000000% 0.384615% 0.000000% 1.538462% 1.101269% 0.000000% 0.321060% 0.000000% 1.422329%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.854082% Weighted Average Net Coupon 6.354082% Weighted Average Pass-Through Rate 6.354082% Weighted Average Maturity(Stepdown Calculation ) 349 Beginning Scheduled Collateral Loan Count 3,004 Number Of Loans Paid In Full 130 Ending Scheduled Collateral Loan Count 2,874 Beginning Scheduled Collateral Balance 570,209,003.34 Ending Scheduled Collateral Balance 541,749,317.06 Ending Actual Collateral Balance at 31-Oct-2004 541,830,921.65 Monthly P &I Constant 3,436,357.56 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 14,887.92 Cumulative Realized Loss 14,887.92 Ending Scheduled Balance for Premium Loans 541,749,317.06 Scheduled Principal 179,474.69 Unscheduled Principal 28,280,211.59
Miscellaneous Reporting Libor Rate 1.932500% Overcollateralization Amount 17,702,302.34 OC Deficiency Amount 0.00 OC Release Amount 0.00 OC Increase Amount 0.00 Prepayment Premiums 655,800.19 Target Overcollateralization Amount 17,702,302.34 Trigger Event NO Net Swap Payment 0.00 Net Swap Receipt 56,806.52
Group Level Collateral Statement Group 1 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.937655 6.502687 6.854082 Weighted Average Net Rate 6.437655 6.002687 6.354082 Weighted Average Maturity 349 349 349 Beginning Loan Count 2,729 275 3,004 Loans Paid In Full 115 15 130 Ending Loan Count 2,614 260 2,874 Beginning Scheduled Balance 460,651,686.41 109,557,316.93 570,209,003.34 Ending scheduled Balance 438,234,228.34 103,515,088.72 541,749,317.06 Record Date 10/31/2004 10/31/2004 10/31/2004 Principal And Interest Constant 2,828,158.42 608,199.14 3,436,357.56 Scheduled Principal 164,956.33 14,518.36 179,474.69 Unscheduled Principal 22,252,501.74 6,027,709.85 28,280,211.59 Scheduled Interest 2,663,202.09 593,680.78 3,256,882.87 Servicing Fees 191,938.18 45,648.88 237,587.06 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 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 2,471,263.91 548,031.90 3,019,295.81 Realized Loss Amount 14,887.92 0.00 14,887.92 Cumulative Realized Loss 14,887.92 0.00 14,887.92 Percentage of Cumulative Losses 0.0028 0.0000 0.0022 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.437655 6.002687 6.354082
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