-----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, AUeuK0M41F3UagCXq7HtduTxlZyfDibQ4lbH6oWVigbqc4pk4jcXSLVBTXFlkDfH AINR8aNHatmLDBAIgwKnYQ== 0001056404-04-003139.txt : 20040928 0001056404-04-003139.hdr.sgml : 20040928 20040928145920 ACCESSION NUMBER: 0001056404-04-003139 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040927 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20040928 DATE AS OF CHANGE: 20040928 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERRILL LYNCH MORTGAGE LN ASST BACK CERTS SER 2004-FF1 CENTRAL INDEX KEY: 0001281964 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-112231-01 FILM NUMBER: 041049635 BUSINESS ADDRESS: STREET 1: 4LD FINANCIAL CENTER FLOOR 10 CITY: NEW YORK STATE: NY ZIP: 10281-1310 8-K 1 ffm04ff1_sep.txt SEPTEMBER 8-K 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 FIRST FRANKLIN MORTGAGE LOAN TRUST Mortgage Loan Asset-Backed Certificates, Series 2004-FF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-112231-01 54-2147305 Pooling and Servicing Agreement) (Commission 54-2147306 (State or other File Number) 54-2147307 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 September 27, 2004 a distribution was made to holders of FIRST FRANKLIN MORTGAGE LOAN TRUST, Mortgage Loan Asset-Backed Certificates, Series 2004-FF1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2004-FF1 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Mortgage Loan Asset-Backed Certificates, Series 2004-FF1 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: 9/28/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2004-FF1 Trust, relating to the September 27, 2004 distribution. EX-99.1
First Franklin Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 8/31/2004 Distribution Date: 9/27/2004 FFM Series: 2004-FF1 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 A-1 32027NFZ9 SEN 1.87500% 553,831,406.43 951,897.73 38,414,990.78 A-2 32027NGA3 SEN 1.85500% 368,058,949.01 625,853.57 20,715,960.67 M-1 32027NGC9 MEZ 2.11500% 73,587,000.00 142,666.80 0.00 M-2 32027NGD7 MEZ 2.75500% 60,207,000.00 152,047.76 0.00 B-1 32027NGE5 SUB 3.21500% 30,103,000.00 88,716.05 0.00 B-2 32027NGF2 SUB 3.31500% 16,724,000.00 50,820.06 0.00 B-3 32027NGG0 SUB 4.36500% 15,386,000.00 61,563.23 0.00 S 32027NGB1 SUB 0.68500% 0.00 701,946.38 0.00 C 32027NGJ4 SUB 0.00000% 14,699,762.00 2,986,299.64 0.00 P 32027NGK1 SUB 0.00000% 0.00 1,096,650.52 0.00 R 32027NGH8 SEN 1.87500% 0.00 0.00 0.00 Totals 1,132,597,117.44 6,858,461.74 59,130,951.45
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 515,416,415.65 39,366,888.51 0.00 A-2 0.00 347,342,988.34 21,341,814.24 0.00 M-1 0.00 73,587,000.00 142,666.80 0.00 M-2 0.00 60,207,000.00 152,047.76 0.00 B-1 0.00 30,103,000.00 88,716.05 0.00 B-2 0.00 16,724,000.00 50,820.06 0.00 B-3 0.00 15,386,000.00 61,563.23 0.00 S 0.00 0.00 701,946.38 0.00 C 0.00 14,699,762.00 2,986,299.64 0.00 P 0.00 0.00 1,096,650.52 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 1,073,466,165.99 65,989,413.19 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) A-1 674,006,000.00 553,831,406.43 0.00 38,414,990.78 0.00 0.00 A-2 451,628,000.00 368,058,949.01 0.00 20,715,960.67 0.00 0.00 M-1 73,587,000.00 73,587,000.00 0.00 0.00 0.00 0.00 M-2 60,207,000.00 60,207,000.00 0.00 0.00 0.00 0.00 B-1 30,103,000.00 30,103,000.00 0.00 0.00 0.00 0.00 B-2 16,724,000.00 16,724,000.00 0.00 0.00 0.00 0.00 B-3 15,386,000.00 15,386,000.00 0.00 0.00 0.00 0.00 S 0.00 0.00 0.00 0.00 0.00 0.00 C 14,700,899.60 14,699,762.00 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 R 100.00 0.00 0.00 0.00 0.00 0.00 Totals 1,336,341,999.60 1,132,597,117.44 0.00 59,130,951.45 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 A-1 38,414,990.78 515,416,415.65 0.76470598 38,414,990.78 A-2 20,715,960.67 347,342,988.34 0.76909091 20,715,960.67 M-1 0.00 73,587,000.00 1.00000000 0.00 M-2 0.00 60,207,000.00 1.00000000 0.00 B-1 0.00 30,103,000.00 1.00000000 0.00 B-2 0.00 16,724,000.00 1.00000000 0.00 B-3 0.00 15,386,000.00 1.00000000 0.00 S 0.00 0.00 0.00000000 0.00 C 0.00 14,699,762.00 0.99992262 0.00 P 0.00 0.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 59,130,951.45 1,073,466,165.99 0.80328701 59,130,951.45
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 674,006,000.00 821.70100330 0.00000000 56.99502791 0.00000000 A-2 451,628,000.00 814.96042984 0.00000000 45.86952242 0.00000000 M-1 73,587,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 60,207,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 30,103,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 16,724,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 15,386,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 14,700,899.60 999.92261698 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 56.99502791 764.70597539 0.76470598 56.99502791 A-2 0.00000000 45.86952242 769.09090743 0.76909091 45.86952242 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 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 S 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 999.92261698 0.99992262 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 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 A-1 674,006,000.00 1.87500% 553,831,406.43 951,897.73 0.00 0.00 A-2 451,628,000.00 1.85500% 368,058,949.01 625,853.57 0.00 0.00 M-1 73,587,000.00 2.11500% 73,587,000.00 142,666.80 0.00 0.00 M-2 60,207,000.00 2.75500% 60,207,000.00 152,047.76 0.00 0.00 B-1 30,103,000.00 3.21500% 30,103,000.00 88,716.05 0.00 0.00 B-2 16,724,000.00 3.31500% 16,724,000.00 50,820.06 0.00 0.00 B-3 15,386,000.00 4.36500% 15,386,000.00 61,563.23 0.00 0.00 S 0.00 0.68500% 1,117,897,355.43 701,946.38 0.00 0.00 C 14,700,899.60 0.00000% 14,699,762.00 0.00 0.00 0.00 P 0.00 0.00000% 0.00 0.00 0.00 0.00 R 100.00 1.87500% 0.00 0.00 0.00 0.00 Totals 1,336,341,999.60 2,775,511.58 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 A-1 0.00 0.00 951,897.73 0.00 515,416,415.65 A-2 0.00 0.00 625,853.57 0.00 347,342,988.34 M-1 0.00 0.00 142,666.80 0.00 73,587,000.00 M-2 0.00 0.00 152,047.76 0.00 60,207,000.00 B-1 0.00 0.00 88,716.05 0.00 30,103,000.00 B-2 0.00 0.00 50,820.06 0.00 16,724,000.00 B-3 0.00 0.00 61,563.23 0.00 15,386,000.00 S 0.00 0.00 701,946.38 0.00 1,058,766,403.98 C 0.00 0.00 2,986,299.64 0.00 14,699,762.00 P 0.00 0.00 1,096,650.52 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 6,858,461.74 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 A-1 674,006,000.00 1.87500% 821.70100330 1.41229860 0.00000000 0.00000000 A-2 451,628,000.00 1.85500% 814.96042984 1.38577229 0.00000000 0.00000000 M-1 73,587,000.00 2.11500% 1000.00000000 1.93875005 0.00000000 0.00000000 M-2 60,207,000.00 2.75500% 1000.00000000 2.52541665 0.00000000 0.00000000 B-1 30,103,000.00 3.21500% 1000.00000000 2.94708335 0.00000000 0.00000000 B-2 16,724,000.00 3.31500% 1000.00000000 3.03875030 0.00000000 0.00000000 B-3 15,386,000.00 4.36500% 1000.00000000 4.00124984 0.00000000 0.00000000 S 0.00 0.68500% 845.84033852 0.53111725 0.00000000 0.00000000 C 14,700,899.60 0.00000% 999.92261698 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R 100.00 1.87500% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 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 A-1 0.00000000 0.00000000 1.41229860 0.00000000 764.70597539 A-2 0.00000000 0.00000000 1.38577229 0.00000000 769.09090743 M-1 0.00000000 0.00000000 1.93875005 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.52541665 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 2.94708335 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.03875030 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 4.00124984 0.00000000 1000.00000000 S 0.00000000 0.00000000 0.53111725 0.00000000 801.09978721 C 0.00000000 0.00000000 203.13720393 0.00000000 999.92261698 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 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 65,348,620.11 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 183,591.48 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 1,096,650.52 Total Deposits 66,628,862.11 Withdrawals Reimbursement for Servicer Advances 153,375.97 Payment of Service Fee 486,072.95 Payment of Interest and Principal 65,989,413.19 Total Withdrawals (Pool Distribution Amount) 66,628,862.11 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 471,915.47 Credit Risk Manager Fee 14,157.48 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 486,072.95
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 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 19 0 0 19 4,523,313.99 0.00 0.00 4,523,313.99 30 Days 89 1 3 0 93 16,212,719.12 356,250.00 250,247.67 0.00 16,819,216.79 60 Days 20 3 12 0 35 3,404,344.44 288,838.82 1,666,720.32 0.00 5,359,903.58 90 Days 3 15 34 4 56 371,787.55 1,946,273.35 6,033,764.95 536,094.08 8,887,919.93 120 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 112 38 49 4 203 19,988,851.11 7,114,676.16 7,950,732.94 536,094.08 35,590,354.29 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 0.378788% 0.000000% 0.000000% 0.378788% 0.421188% 0.000000% 0.000000% 0.421188% 30 Days 1.774322% 0.019936% 0.059809% 0.000000% 1.854067% 1.509645% 0.033172% 0.023302% 0.000000% 1.566119% 60 Days 0.398724% 0.059809% 0.239234% 0.000000% 0.697767% 0.316995% 0.026895% 0.155196% 0.000000% 0.499087% 90 Days 0.059809% 0.299043% 0.677831% 0.079745% 1.116427% 0.034619% 0.181227% 0.561833% 0.049918% 0.827597% 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 2.232855% 0.757576% 0.976874% 0.079745% 4.047049% 1.861259% 0.662482% 0.740331% 0.049918% 3.313991%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 183,591.48
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.620678% Weighted Average Net Coupon 6.119706% Weighted Average Pass-Through Rate 6.104706% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 5,261 Number Of Loans Paid In Full 245 Ending Scheduled Collateral Loan Count 5,016 Beginning Scheduled Collateral Balance 1,132,597,117.43 Ending Scheduled Collateral Balance 1,073,466,165.98 Ending Actual Collateral Balance at 31-Aug-2004 1,073,942,430.24 Monthly P &I Constant 6,747,106.37 Special Servicing Fee 0.00 Prepayment Penalties 1,096,650.52 Realized Loss Amount 0.00 Cumulative Realized Loss 80,391.61 Ending Scheduled Balance for Premium Loans 1,073,466,165.98 Scheduled Principal 498,305.65 Unscheduled Principal 58,632,645.80 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 14,699,762.00 Overcollateralized Amount 14,699,762.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00
Miscellaneous Reporting Current Pre-payment penalties 1,096,650.52 Cumulative Pre-payment penalties 4,711,605.72 Repurchased Principal 0.00 Is Trigger Event occuring? NO
-----END PRIVACY-ENHANCED MESSAGE-----