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):  October 25, 2004
                         (Date of earliest event reported)

         Ameriquest Mortgage Securities Inc (as Depositor under the Pooling
          and Servicing Agreement, dated as April 1, 2004, providing for the
          issuance of Asset-Backed Pass-Through Certificates, Series 2004-R2)
                 (Exact name of registrant as specified in charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-105982-09                          33-0885129
          (Commission File Number)        (I.R.S. Employer Identification No.)


          1100 TOWN & COUNTRY ROAD, SUITE 1100
          ORANGE, CALIFORNIA                              92868
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (714) 541-9960


Registrant's Telephone Number, Including Area Code:  (714) 564-0660

            (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(b) under the Exchange Act
(17 CFR 240.14a-12(b))

[  ] 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

     Attached hereto is a copy of the Monthly Remittance Statements to the
     Certificateholders which was derived from the monthly information
     submitted by the Master Servicer of the Trust to the Trustee.


     Item 9.01 Financial Statements and Exhibits

     (c) Exhibits:

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     October 25, 2004.

                                    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, hereunto duly authorized.


                                  Deutsche Bank National Trust Company,
                                  in its capacity as Trustee under the
                                  Pooling and Servicing Agreement on
                                  behalf of Ameriquest Mortgage
                                  Securities Inc.,Registrant


          Date:  Oct 26, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          99.1 Monthly Remittance Statement to the Certificateholders
          dated as of October 25, 2004.







			

	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	October 25, 2004 Distribution
	Contents
			TABLE OF CONTENTS
								Page
			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				14
			8.	Foreclosure Report				15
			9.	Prepayment Report				16
			10.	Prepayment Detail Report				19
			11.	Realized Loss Report				23
			12.	Realized Loss Detail Report				26
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				27
				Total Number of Pages				27
			CONTACTS
				Administrator: Ronaldo Reyes
				Direct Phone Number: (714)247-6320
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: https://www.tss.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Ameriquest Mortgage Corp					Cut-Off Date: April 1, 2004
	Certificate Insurer(s):							Closing Date: April 5, 2004
								First Payment Date: May 25, 2004
	Servicer(s):		Ameriquest Mortgage Corp Master Servicer
								Distribution Date: October 25, 2004
	Underwriter(s):		RBS Greenwich Capital Underwriter					Record Date: October 22, 2004
			Banc of America Securities LLC					September 30, 2004
						Page 1 of 27					© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	REMIC I
	Certificate Payment Report for October 25, 2004 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1A		404,820,000.00			345,013,148.99	586,330.68	16,183,606.52	16,769,937.20	-	-	328,829,542.47
A-1B		44,980,000.00			38,334,794.34	64,104.29	1,798,178.50	1,862,282.79	-	-	36,536,615.84
A-2		117,860,000.00			76,005,269.41	114,092.35	10,367,981.81	10,482,074.16	-	-	65,637,287.60
A-3		66,120,000.00			66,120,000.00	104,910.40	-	104,910.40	-	-	66,120,000.00
A-4		58,220,000.00			58,220,000.00	100,979.36	-	100,979.36	-	-	58,220,000.00
M-1		20,000,000.00			20,000,000.00	35,311.11	-	35,311.11	-	-	20,000,000.00
M-2		18,000,000.00			18,000,000.00	32,480.00	-	32,480.00	-	-	18,000,000.00
M-3		10,000,000.00			10,000,000.00	18,588.89	-	18,588.89	-	-	10,000,000.00
M-4		12,000,000.00			12,000,000.00	26,973.33	-	26,973.33	-	-	12,000,000.00
M-5		10,000,000.00			10,000,000.00	23,022.22	-	23,022.22	-	-	10,000,000.00
M-6		9,200,000.00			9,200,000.00	23,184.00	-	23,184.00	-	-	9,200,000.00
M-7		8,000,000.00			8,000,000.00	22,026.67	-	22,026.67	-	-	8,000,000.00
M-8		8,000,000.00			8,000,000.00	22,648.89	-	22,648.89	-	-	8,000,000.00
M-9		8,000,000.00			8,000,000.00	30,115.56	-	30,115.56	-	-	8,000,000.00
CE		4,800,485.32			4,800,003.51	2,497,073.98	-	2,497,073.98	-	-	4,800,003.51
P		100.00			100.00	476,043.48	-	476,043.48	-	-	100.00
R		-			-	-	-	-	-	-	-
Total		800,000,585.32			691,693,316.25	4,177,885.21	28,349,766.83	32,527,652.04	-	-	663,343,549.42
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A-1A	09/27/04	10/22/04		A-Act/360	03072SPX7	404,820,000.00	852.263102	1.448374	39.977290	41.425664	812.285812
A-1B	09/27/04	10/22/04		A-Act/360	03072SPD1	44,980,000.00	852.263102	1.425173	39.977290	41.402463	812.285812
A-2	09/27/04	10/22/04		A-Act/360	03072SPE9	117,860,000.00	644.877562	0.968033	87.968622	88.936655	556.908939
A-3	09/27/04	10/22/04		A-Act/360	03072SPF6	66,120,000.00	1,000.000000	1.586667	-	1.586667	1,000.000000
A-4	09/27/04	10/22/04		A-Act/360	03072SPG4	58,220,000.00	1,000.000000	1.734445	-	1.734445	1,000.000000
M-1	09/27/04	10/22/04		A-Act/360	03072SPH2	20,000,000.00	1,000.000000	1.765556	-	1.765556	1,000.000000
M-2	09/27/04	10/22/04		A-Act/360	03072SPJ8	18,000,000.00	1,000.000000	1.804444	-	1.804444	1,000.000000
M-3	09/27/04	10/22/04		A-Act/360	03072SPK5	10,000,000.00	1,000.000000	1.858889	-	1.858889	1,000.000000
M-4	09/27/04	10/22/04		A-Act/360	03072SPL3	12,000,000.00	1,000.000000	2.247778	-	2.247778	1,000.000000
M-5	09/27/04	10/22/04		A-Act/360	03072SPM1	10,000,000.00	1,000.000000	2.302222	-	2.302222	1,000.000000
M-6	09/27/04	10/22/04		A-Act/360	03072SPN9	9,200,000.00	1,000.000000	2.520000	-	2.520000	1,000.000000
M-7	09/27/04	10/22/04		A-Act/360	03072SPP4	8,000,000.00	1,000.000000	2.753334	-	2.753334	1,000.000000
M-8	09/27/04	10/22/04		A-Act/360	03072SPQ2	8,000,000.00	1,000.000000	2.831111	-	2.831111	1,000.000000
M-9	09/27/04	10/22/04		A-Act/360	03072SPR0	8,000,000.00	1,000.000000	3.764445	-	3.764445	1,000.000000
CE	08/31/04	09/30/04		F-30/360	AQ04R2101	4,800,485.32	999.899633	520.171152	-	520.171152	999.899633
P				A-Act/360	AQ04R2102	100.00	1,000.000000	4,760,434.800000	-	4,760,434.800000	1,000.000000
R				A-Act/360	AQ04R2103	-	-	-	-	-	-
							Page 2 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	REMIC I
	Certificate Payment Report for October 25, 2004 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1A	404,820,000.00		3,649,966.32		73,773,555.70	2,216,901.83	75,990,457.53	79,640,423.85	-	-	328,829,542.47
A-1B	44,980,000.00		397,180.65		8,197,061.74	246,322.42	8,443,384.16	8,840,564.81	-	-	36,536,615.84
A-2	117,860,000.00		805,486.30		50,669,662.51	1,553,049.89	52,222,712.40	53,028,198.70	-	-	65,637,287.60
A-3	66,120,000.00		583,720.22		-	-	-	583,720.22	-	-	66,120,000.00
A-4	58,220,000.00		576,353.74		-	-	-	576,353.74	-	-	58,220,000.00
M-1	20,000,000.00		202,502.77		-	-	-	202,502.77	-	-	20,000,000.00
M-2	18,000,000.00		187,327.50		-	-	-	187,327.50	-	-	18,000,000.00
M-3	10,000,000.00		108,018.06		-	-	-	108,018.06	-	-	10,000,000.00
M-4	12,000,000.00		163,455.00		-	-	-	163,455.00	-	-	12,000,000.00
M-5	10,000,000.00		140,159.72		-	-	-	140,159.72	-	-	10,000,000.00
M-6	9,200,000.00		143,472.73		-	-	-	143,472.73	-	-	9,200,000.00
M-7	8,000,000.00		138,292.23		-	-	-	138,292.23	-	-	8,000,000.00
M-8	8,000,000.00		142,803.34		-	-	-	142,803.34	-	-	8,000,000.00
M-9	8,000,000.00		196,936.66		-	-	-	196,936.66	-	-	8,000,000.00
CE	4,800,485.32		16,896,285.52		446.52	35.29	481.81	16,896,767.33	-	-	4,800,003.51
P	100.00		2,578,140.11		-	-	-	2,578,140.11	-	-	100.00
R	-		-		-	-	-	-	-	-	-
Total	800,000,585.32		26,910,100.87		132,640,726.47	4,016,309.43	136,657,035.90	163,567,136.77	-	-	663,343,549.42
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1A	2.18500%	345,013,148.99			586,330.68	-	-	-	586,330.68	586,330.68	-
A-1B	2.15000%	38,334,794.34			64,104.29	-	-	-	64,104.29	64,104.29	-
A-2	1.93000%	76,005,269.41			114,092.35	-	-	-	114,092.35	114,092.35	-
A-3	2.04000%	66,120,000.00			104,910.40	-	-	-	104,910.40	104,910.40	-
A-4	2.23000%	58,220,000.00			100,979.36	-	-	-	100,979.36	100,979.36	-
M-1	2.27000%	20,000,000.00			35,311.11	-	-	-	35,311.11	35,311.11	-
M-2	2.32000%	18,000,000.00			32,480.00	-	-	-	32,480.00	32,480.00	-
M-3	2.39000%	10,000,000.00			18,588.89	-	-	-	18,588.89	18,588.89	-
M-4	2.89000%	12,000,000.00			26,973.33	-	-	-	26,973.33	26,973.33	-
M-5	2.96000%	10,000,000.00			23,022.22	-	-	-	23,022.22	23,022.22	-
M-6	3.24000%	9,200,000.00			23,184.00	-	-	-	23,184.00	23,184.00	-
M-7	3.54000%	8,000,000.00			22,026.67	-	-	-	22,026.67	22,026.67	-
M-8	3.64000%	8,000,000.00			22,648.89	-	-	-	22,648.89	22,648.89	-
M-9	4.84000%	8,000,000.00			30,115.56	-	-	-	30,115.56	30,115.56	-
CE	4.33210%	4,800,003.51			2,497,073.98	-	-	-	2,497,073.98	2,497,073.98	-
P		100.00			476,043.48	-	-	-	476,043.48	476,043.48	-
R		-			-	-	-	-	-	-	-
Total		691,693,316.25			4,177,885.21	-	-	-	4,177,885.21	4,177,885.21	-
							Page 3 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Collection Account Report for October 25, 2004 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					10,367,981.81	17,981,785.02	28,349,766.83
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					10,367,981.81	17,981,785.02	28,349,766.83
	Interest Collections					1,389,182.79	2,660,468.63	4,049,651.42
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	476,044.68
	Interest Fees					(100,849.13)	(246,961.76)	(347,810.89)
	TOTAL NET INTEREST					1,288,333.66	2,413,506.87	4,177,885.21
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION					11,656,315.47	20,395,291.89	32,527,652.04
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					214,951.48	415,706.68	630,658.16
	Prepayments In Full					10,133,709.73	17,544,160.33	27,677,870.06
	Curtailments					19,320.60	21,918.01	41,238.61
	Liquidations					0.00	0.00	0.00
	Insurance Principal					0.00	0.00	0.00
	Repurchased Principal Amounts					0.00	0.00	0.00
	Other Principal					0.00	0.00	0.00
	Total Realized Loss Of Principal					0.00	0.00	0.00
	Delinquent Principal					(180,135.73)	(353,094.66)	(533,230.39)
	Advanced Principal					180,135.73	353,094.66	533,230.39
	TOTAL PRINCIPAL COLLECTED					10,367,981.81	17,981,785.02	28,349,766.83
				Page 4 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Collection Account Report for October 25, 2004 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	TOTAL OTHER ACCOUNTS PRINCIPAL					0.00	0.00	0.00
INTEREST - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Interest					1,471,249.31	2,819,731.37	4,290,980.68
	Liquidation Interest					0.00	0.00	0.00
	Repurchased Interest					0.00	0.00	0.00
	Insurance Interest					0.00	0.00	0.00
	Capitalized Interest					0.00	0.00	0.00
	Relief Act Interest Shortfalls					0.00	0.00	0.00
	Prepayment Interest Shortfalls					(8,861.91)	(11,046.02)	(19,907.93)
	Compensating Interest					8,861.91	11,046.02	19,907.93
	Delinquent Interest					(1,226,391.11)	(2,395,794.66)	(3,622,185.77)
	Interest Advanced					1,144,324.59	2,236,531.92	3,380,856.51
	TOTAL INTEREST COLLECTED					1,389,182.79	2,660,468.63	4,049,651.42
				Page 5 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Collection Account Report for October 25, 2004 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
	Nonrecoverable Advances							0.00
	TOTAL INTEREST WITHDRAWALS							0.00
INTEREST - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	Prepayment Charges							476,043.48
	Interest Earnings							1.20
	TOTAL INTEREST OTHER ACCOUNTS							476,044.68
INTEREST - FEES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					17,165.18	29,711.11	46,876.29
	Trustee Fee					595.39	1,133.84	1,729.23
	PMI Premium					83,088.56	216,116.81	299,205.37
	TOTAL INTEREST OTHER FEES					100,849.13	246,961.76	347,810.89
				Page 6 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for October 25, 2004 Distribution
	Credit Enhancement Report
ACCOUNTS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INSURANCE						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES						GROUP 2	GROUP 1	TOTAL
	Beginning Overcollateralized Amount							4,800,485.32
	Overcollateralization Reduction Amount							0.00
	Overcollateralization Deficiency Amount							0.00
	Overcollateralization Target Amount							4,800,003.51
	Excess Overcollateralization Amount							0.00
	Overcollateralization Increase Amount							0.00
	Ending Overcollateralized Amount							4,800,003.50
				Page 7 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Collateral Report for October 25, 2004 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					1582	3341	4923
	Prior					1,393	2,979	4,372
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(48)	(107)	(155)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					1,345	2,872	4,217
	Principal Balance:
	Original					280,000,720.55	519,999,864.77	800,000,585.32
	Prior					238,156,082.41	453,537,233.84	691,693,316.25
	Prefunding					-	-	-
	Scheduled Principal					(214,951.48)	(415,706.68)	(630,658.16)
	Partial and Full Voluntary Prepayments					(10,153,030.33)	(17,566,078.34)	(27,719,108.67)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					227,788,100.60	435,555,448.82	663,343,549.42
PREFUNDING						GROUP 2	GROUP 1	TOTAL
	Original Pre-funding Account Balance					0.00	0.00	0.00
	Beginning Pre-funding Account Balance					0.00	0.00	0.00
	LESS: Subsequent Loans Added					0.00	0.00	0.00
	LESS: Unused Pre-Funding Balance Released to Deal					0.00	0.00	0.00
	Ending Pre-funding Account Balance					0.00	0.00	0.00
	Initial Deposit in Capitalized Interest Account							0.00
	Capitalized Interest Account release					0.00	0.00	0.00
	Group 1
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Collateral Report for October 25, 2004 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original					7.507671%	7.546660%	7.533014%
	Weighted Average Coupon Prior					7.429355%	7.477106%	7.460600%
	Weighted Average Coupon Current					7.413202%	7.460639%	7.444306%
	Weighted Average Months to Maturity Original					349	347	348
	Weighted Average Months to Maturity Prior					345	342	343
	Weighted Average Months to Maturity Current					343	341	342
	Weighted Avg Remaining Amortization Term Original					349	347	348
	Weighted Avg Remaining Amortization Term Prior					344	342	343
	Weighted Avg Remaining Amortization Term Current					343	341	341
	Weighted Average Seasoning Original					3.27	3.22	3.24
	Weighted Average Seasoning Prior					7.20	7.15	7.16
	Weighted Average Seasoning Current					8.20	8.13	8.15
Note: Original information refers to deal issue.
	Group 1
	Group 2
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Collateral Report for October 25, 2004 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					3.929%	3.939%
	Weighted Average Margin Prior					3.760%	3.844%
	Weighted Average Margin Current					3.692%	3.791%
	Weighted Average Max Rate Original					9.105%	9.144%
	Weighted Average Max Rate Prior					8.673%	8.899%
	Weighted Average Max Rate Current					8.523%	8.776%
	Weighted Average Min Rate Original					5.335%	5.391%
	Weighted Average Min Rate Prior					5.080%	5.251%
	Weighted Average Min Rate Current					5.003%	5.180%
	Weighted Average Cap Up Original					0.650%	0.650%
	Weighted Average Cap Up Prior					0.621%	0.635%
	Weighted Average Cap Up Current					0.610%	0.626%
	Weighted Average Cap Down Original					0.650%	0.650%
	Weighted Average Cap Down Prior					0.621%	0.635%
	Weighted Average Cap Down Current					0.610%	0.626%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					17,165.18	29,711.11	46,876.29
	Delinquent Servicing Fees					82,066.53	159,262.74	241,329.27
	TOTAL SERVICING FEES					99,231.71	188,973.85	288,205.56
	Compensating Interest					(8,861.91)	(11,046.02)	(19,907.93)
	Delinquent Servicing Fees					(82,066.53)	(159,262.74)	(241,329.27)
	COLLECTED SERVICING FEES					8,303.27	18,665.09	26,968.36
	Aggregate Advances with respect to this Distribution					1,324,460.32	2,589,626.58	3,914,086.90
	Current Nonrecoverable Advances					0.00	0.00	0.00
	Cumulative Nonrecoverable Advances					0.00	0.00	0.00
ADDITIONAL COLLATERAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Net Prepayment Interest Shortfall					0.00	0.00	0.00
				Page 10 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Delinquency Report for October 25, 2004 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			11,153,646.49	4,662,099.99	6,624,754.06	22,440,500.54
		% Balance			1.68%	0.70%	1.00%	3.38%
		# Loans			76	32	43	151
		% # Loans			1.80%	0.76%	1.02%	3.58%
FORECLOSURE		Balance		-	-	-	4,831,236.43	4,831,236.43
		% Balance		0.00%	0.00%	0.00%	0.73%	0.73%
		# Loans		-	-	-	37	37
		% # Loans		0.00%	0.00%	0.00%	0.88%	0.88%
BANKRUPTCY		Balance		1,772,844.46	274,783.06	221,889.31	316,789.53	2,586,306.36
		% Balance		0.27%	0.04%	0.03%	0.05%	0.39%
		# Loans		16	2	3	2	23
		% # Loans		0.38%	0.05%	0.07%	0.05%	0.55%
REO		Balance		-	-	-	144,704.77	144,704.77
		% Balance		0.00%	0.00%	0.00%	0.02%	0.02%
		# Loans		-	-	-	2	2
		% # Loans		0.00%	0.00%	0.00%	0.05%	0.05%
TOTAL		Balance		1,772,844.46	11,428,429.55	4,883,989.30	11,917,484.79	30,002,748.10
		% Balance		0.27%	1.72%	0.74%	1.80%	4.52%
		# Loans		16	78	35	84	213
		% # Loans		0.38%	1.85%	0.83%	1.99%	5.05%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 11 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Delinquency Report for October 25, 2004 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			7,155,586.28	2,980,781.52	4,353,777.95	14,490,145.75
		% Balance			1.64%	0.68%	1.00%	3.33%
		# Loans			47	21	30	98
		% # Loans			1.64%	0.73%	1.04%	3.41%
FORECLOSURE		Balance		-	-	-	3,686,789.38	3,686,789.38
		% Balance		0.00%	0.00%	0.00%	0.85%	0.85%
		# Loans		-	-	-	26	26
		% # Loans		0.00%	0.00%	0.00%	0.91%	0.91%
BANKRUPTCY		Balance		955,012.40	274,783.06	160,139.78	316,789.53	1,706,724.77
		% Balance		0.22%	0.06%	0.04%	0.07%	0.39%
		# Loans		9	2	2	2	15
		% # Loans		0.31%	0.07%	0.07%	0.07%	0.52%
REO		Balance		-	-	-	77,377.57	77,377.57
		% Balance		0.00%	0.00%	0.00%	0.02%	0.02%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.03%	0.03%
TOTAL		Balance		955,012.40	7,430,369.34	3,140,921.30	8,434,734.43	19,961,037.47
		% Balance		0.22%	1.71%	0.72%	1.94%	4.58%
		# Loans		9	49	23	59	140
		% # Loans		0.31%	1.71%	0.80%	2.05%	4.87%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 12 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Delinquency Report for October 25, 2004 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			3,998,060.21	1,681,318.47	2,270,976.11	7,950,354.79
		% Balance			1.76%	0.74%	1.00%	3.49%
		# Loans			29	11	13	53
		% # Loans			2.16%	0.82%	0.97%	3.94%
FORECLOSURE		Balance		-	-	-	1,144,447.05	1,144,447.05
		% Balance		0.00%	0.00%	0.00%	0.50%	0.50%
		# Loans		-	-	-	11	11
		% # Loans		0.00%	0.00%	0.00%	0.82%	0.82%
BANKRUPTCY		Balance		817,832.06	-	61,749.53	-	879,581.59
		% Balance		0.36%	0.00%	0.03%	0.00%	0.39%
		# Loans		7	-	1	-	8
		% # Loans		0.52%	0.00%	0.07%	0.00%	0.59%
REO		Balance		-	-	-	67,327.20	67,327.20
		% Balance		0.00%	0.00%	0.00%	0.03%	0.03%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.07%	0.07%
TOTAL		Balance		817,832.06	3,998,060.21	1,743,068.00	3,482,750.36	10,041,710.63
		% Balance		0.36%	1.76%	0.77%	1.53%	4.41%
		# Loans		7	29	12	25	73
		% # Loans		0.52%	2.16%	0.89%	1.86%	5.43%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 13 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	REO Report for October 25, 2004 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 2				Loan Group 1 = Group 1; REO Book Value = Not Available
Total Original Principal Balance = 145,400.00				Loan Group 2 = Group 2; REO Book Value = Not Available
Total Current Balance = 144,704.77
REO Book Value = Not Available
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
68748763 1		77,900.00	77,377.57	Mar-01-04	6.990%	MO - 89.99%	360	Jan-30-04
65113185 2		67,500.00	67,327.20	Mar-01-04	11.650%	GA - 73.37%	360	Jan-09-04
				Page 14 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Foreclosure Report for October 25, 2004 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 17				Loan Group 1 = Group 1
Total Original Principal Balance = 2,427,010.00				Loan Group 2 = Group 2
Total Current Balance = 2,414,914.18
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
55278964 1		90,350.00	89,942.34	May-01-04	10.990%	ME - 65.00%	360	Sep-19-03
66584343 1		86,400.00	86,011.53	May-01-04	8.990%	NH - 80.00%	360	Jan-23-04
66836024 1		85,400.00	84,881.72	Mar-01-04	7.500%	AZ - 70.00%	360	Jan-30-04
67509109 1		79,435.00	79,059.88	May-01-04	8.750%	MN - 77.12%	360	Jan-31-04
67751362 1		138,000.00	136,933.17	May-01-04	6.250%	WA - 89.03%	360	Jan-29-04
67965483 1		234,000.00	232,208.15	Apr-01-04	6.300%	NY - 90.00%	360	Jan-23-04
68554542 1		85,000.00	84,499.22	Apr-01-04	7.650%	MN - 73.91%	360	Jan-31-04
68955202 1		165,750.00	165,126.63	May-01-04	9.850%	IL - 85.00%	360	Jan-30-04
69110708 1		293,250.00	291,931.68	Mar-01-04	8.990%	AL - 85.00%	360	Jan-31-04
69192003 1		265,000.00	263,681.93	May-01-04	8.500%	MN - 80.30%	360	Feb-04-04
73208225 1		94,500.00	94,292.64	May-01-04	10.990%	NC - 90.00%	360	Mar-16-04
66235383 2		60,000.00	59,752.47	Apr-01-04	9.990%	CT - 54.55%	360	Dec-31-03
67114785 2		190,000.00	188,924.22	May-01-04	7.850%	MA - 59.38%	360	Jan-30-04
67258921 2		155,000.00	154,166.78	May-01-04	8.150%	MN - 72.09%	360	Jan-21-04
69078921 2		283,500.00	282,352.80	Mar-01-04	9.500%	MI - 90.00%	360	Jan-31-04
73169989 2		60,000.00	59,837.04	May-01-04	9.990%	MO - 82.19%	360	Mar-12-04
73669640 2		61,425.00	61,311.98	May-01-04	11.800%	AL - 75.00%	360	Mar-29-04
				Page 15 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Prepayment Report for October 25, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					48	107	155
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					48	107	155
	Paid in Full Balance					10,133,709.73	17,544,160.33	27,677,870.06
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					19,320.60	21,918.01	41,238.61
	Total Prepayment Amount					10,153,030.33	17,566,078.34	27,719,108.67
	Cumulative
	Number of Paid in Full Loans					234	464	698
	Number of Repurchased Loans					3	4	7
	Total Number of Loans Prepaid in Full					237	468	705
	Paid in Full Balance					50,452,535.43	81,038,276.05	131,490,811.48
	Repurchased Loans Balance					196,309.26	476,873.00	673,182.26
	Curtailments Amount					188,169.94	169,758.62	357,928.56
	Total Prepayment Amount					50,837,014.63	81,684,907.67	132,521,922.30
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Prepayment Report for October 25, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					4.27%	3.88%	4.01%
	3 Months Avg SMM					3.96%	3.48%	3.65%
	12 Months Avg SMM
	Avg SMM Since Cut-off					3.30%	2.82%	2.98%
	CPR					40.74%	37.78%	38.81%
	3 Months Avg CPR					38.42%	34.63%	35.96%
	12 Months Avg CPR
	Avg CPR Since Cut-off					33.12%	29.05%	30.48%
	PSA					2485.54%	2322.71%	2380.00%
	3 Months Avg PSA Approximation					2664.37%	2423.36%	2508.80%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					2890.70%	2559.64%	2677.55%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Prepayment Report for October 25, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1
	Group 2
CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off
PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) *.......*(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*Avg WASn,m))
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m)
Weighted Average Seasoning (WAS)
Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.
				Page 18 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for October 25, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 155						Loan Group 1 = Group 1
Total Original Principal Balance = 27,841,464.00						Loan Group 2 = Group 2
Total Prepayment Amount = 27,677,870.06
Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
50981612 1			355,000.00	351,344.92	Oct-05-04	6.990%	CA - 82.56%	Paid Off - 360	Aug-31-03
51141794 1			129,600.00	128,515.18	Sep-24-04	7.990%	TX - 80.00%	Paid Off - 360	Aug-29-03
52297363 1			139,500.00	138,589.75	Sep-13-04	9.250%	CA - 90.00%	Paid Off - 360	Aug-27-03
52516440 1			183,500.00	182,041.44	Sep-30-04	8.250%	MA - 55.44%	Paid Off - 360	Aug-27-03
53644043 1			119,250.00	118,171.97	Oct-04-04	7.600%	CA - 90.00%	Paid Off - 360	Aug-29-03
53869202 1			110,500.00	109,781.60	Sep-15-04	9.250%	FL - 85.00%	Paid Off - 360	Aug-21-03
53962924 1			256,500.00	255,028.82	Oct-04-04	9.850%	CA - 90.00%	Paid Off - 360	Aug-30-03
53965760 1			90,000.00	89,381.87	Sep-24-04	8.990%	MD - 90.00%	Paid Off - 360	Aug-28-03
54271523 1			122,100.00	121,323.43	Sep-16-04	9.350%	MD - 89.78%	Paid Off - 360	Aug-29-03
54863907 1			91,200.00	90,691.87	Oct-05-04	9.990%	TX - 80.00%	Paid Off - 360	Aug-29-03
55129282 1			82,400.00	82,028.21	Sep-17-04	10.990%	TX - 80.00%	Paid Off - 360	Aug-29-03
56280787 1			114,000.00	113,418.80	Oct-06-04	9.500%	RI - 63.33%	Paid Off - 360	Oct-09-03
57873267 1			142,800.00	141,369.04	Oct-05-04	8.750%	WI - 85.00%	Paid Off - 360	Oct-27-03
58783507 1			71,250.00	71,034.79	Sep-21-04	11.990%	WI - 75.00%	Paid Off - 360	Oct-31-03
59279349 1			86,000.00	85,475.29	Sep-29-04	8.900%	OH - 77.48%	Paid Off - 360	Oct-30-03
59464347 1			276,250.00	272,467.77	Sep-29-04	9.990%	NC - 85.00%	Paid Off - 240	Oct-31-03
60147808 1			148,750.00	147,991.60	Oct-06-04	9.500%	MN - 84.76%	Paid Off - 360	Oct-31-03
62471388 1			198,750.00	197,631.42	Sep-20-04	8.500%	NJ - 75.00%	Paid Off - 360	Nov-26-03
62899109 1			215,000.00	213,053.06	Oct-04-04	6.050%	CA - 69.35%	Paid Off - 360	Nov-29-03
62945209 1			113,300.00	112,958.72	Oct-06-04	10.250%	WI - 83.93%	Paid Off - 360	Jan-09-04
64124068 1			122,850.00	122,104.42	Sep-14-04	7.500%	WA - 90.00%	Paid Off - 360	Dec-17-03
64334808 1			162,000.00	161,271.68	Oct-05-04	8.990%	FL - 63.53%	Paid Off - 360	Dec-22-03
65156424 1			310,500.00	309,283.22	Sep-23-04	8.990%	CA - 90.00%	Paid Off - 360	Jan-20-04
65320368 1			180,000.00	179,190.78	Sep-28-04	8.990%	RI - 90.00%	Paid Off - 360	Dec-29-03
65423469 1			83,000.00	81,249.20	Sep-21-04	10.400%	WI - 55.33%	Paid Off - 180	Dec-31-03
65548505 1			198,000.00	196,726.46	Sep-28-04	6.500%	MA - 90.00%	Paid Off - 360	Jan-05-04
65704728 1			260,500.00	258,753.02	Oct-07-04	6.990%	MN - 89.83%	Paid Off - 360	Dec-29-03
65869083 1			140,250.00	139,477.78	Sep-23-04	7.990%	RI - 85.00%	Paid Off - 360	Dec-26-03
65908303 1			87,750.00	87,540.60	Sep-28-04	10.600%	NC - 75.00%	Paid Off - 360	Feb-02-04
65959181 1			121,968.00	121,395.13	Sep-20-04	8.100%	IL - 93.82%	Paid Off - 360	Jan-15-04
66022328 1			315,000.00	312,678.13	Sep-30-04	6.500%	CA - 90.00%	Paid Off - 360	Dec-31-03
66096827 1			84,000.00	83,457.10	Sep-13-04	8.990%	MI - 44.92%	Paid Off - 360	Jan-13-04
66106683 1			141,000.00	140,304.98	Sep-30-04	7.350%	NH - 61.30%	Paid Off - 360	Feb-03-04
66114943 1			126,900.00	126,219.56	Oct-04-04	7.500%	AL - 90.00%	Paid Off - 360	Jan-09-04
66163544 1			122,800.00	122,449.13	Sep-30-04	9.750%	ME - 59.04%	Paid Off - 360	Feb-02-04
66301623 1			212,700.00	211,909.97	Sep-29-04	9.250%	MI - 84.40%	Paid Off - 360	Jan-15-04
66455544 1			232,000.00	230,658.36	Sep-30-04	7.050%	MD - 88.55%	Paid Off - 360	Jan-09-04
66590001 1			170,000.00	169,321.32	Oct-05-04	8.900%	CA - 73.91%	Paid Off - 360	Jan-12-04
66682568 1			150,000.00	149,576.16	Sep-17-04	10.550%	MI - 44.12%	Paid Off - 360	Jan-21-04
66711888 1			148,000.00	147,420.01	Sep-30-04	8.990%	FL - 84.57%	Paid Off - 360	Jan-09-04
66775289 1			185,000.00	183,917.62	Sep-30-04	6.990%	CA - 89.37%	Paid Off - 360	Jan-20-04
66826942 1			140,000.00	139,451.33	Oct-06-04	8.990%	CT - 84.85%	Paid Off - 360	Jan-16-04
66842865 1			297,000.00	295,573.90	Oct-06-04	7.990%	MA - 90.00%	Paid Off - 360	Jan-22-04
66871989 1			120,000.00	119,447.47	Oct-04-04	8.200%	IA - 80.00%	Paid Off - 360	Jan-23-04
					Page 19 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for October 25, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
66884107 1			198,000.00	196,962.63	Sep-27-04	6.750%	MD - 90.00%	Paid Off - 360	Feb-03-04
66901521 1			97,500.00	97,110.74	Sep-30-04	8.900%	AZ - 75.00%	Paid Off - 360	Jan-31-04
66907783 1			171,000.00	170,049.08	Sep-22-04	7.250%	RI - 90.00%	Paid Off - 360	Jan-20-04
66934720 1			268,000.00	266,581.33	Sep-24-04	7.500%	HI - 74.86%	Paid Off - 360	Jan-29-04
67028548 1			251,250.00	250,007.49	Oct-07-04	7.850%	CA - 75.00%	Paid Off - 360	Jan-29-04
67116228 1			176,500.00	175,808.34	Sep-21-04	8.990%	MD - 84.86%	Paid Off - 360	Jan-26-04
67150268 1			179,999.00	179,133.24	Sep-20-04	7.990%	FL - 74.07%	Paid Off - 360	Jan-26-04
67180042 1			330,000.00	328,354.12	Oct-06-04	7.800%	CA - 64.71%	Paid Off - 360	Jan-30-04
67220780 1			209,000.00	208,186.49	Sep-30-04	8.250%	IL - 90.87%	Paid Off - 360	Feb-05-04
67222620 1			81,600.00	81,265.25	Oct-05-04	7.990%	IN - 85.00%	Paid Off - 360	Feb-05-04
67534768 1			176,000.00	174,812.55	Sep-17-04	6.250%	CA - 66.69%	Paid Off - 360	Jan-30-04
67611087 1			83,000.00	82,514.37	Oct-06-04	6.990%	PA - 83.00%	Paid Off - 360	Jan-29-04
67651265 1			106,000.00	104,861.31	Sep-27-04	8.990%	PA - 89.83%	Paid Off - 240	Jan-21-04
67695403 1			319,000.00	317,044.66	Sep-15-04	6.750%	MD - 84.62%	Paid Off - 360	Jan-27-04
67791244 1			94,500.00	94,199.29	Oct-04-04	9.990%	WI - 67.50%	Paid Off - 360	Jan-23-04
67809160 1			95,000.00	94,517.15	Sep-13-04	7.750%	MA - 49.22%	Paid Off - 360	Jan-26-04
67827568 1			171,000.00	169,739.21	Oct-05-04	5.850%	CA - 89.37%	Paid Off - 360	Jan-31-04
67886184 1			171,000.00	170,049.08	Sep-22-04	7.250%	MI - 90.00%	Paid Off - 360	Jan-31-04
67920868 1			318,000.00	316,878.71	Sep-21-04	9.500%	CA - 83.25%	Paid Off - 360	Jan-30-04
67933861 1			147,000.00	146,124.72	Sep-30-04	6.900%	FL - 86.47%	Paid Off - 360	Jan-28-04
67967448 1			216,000.00	214,884.68	Sep-20-04	7.700%	MN - 90.00%	Paid Off - 360	Jan-26-04
67976969 1			140,000.00	139,000.23	Sep-13-04	6.050%	CA - 40.95%	Paid Off - 360	Jan-27-04
68054048 1			235,000.00	233,682.84	Sep-13-04	8.250%	CT - 57.32%	Paid Off - 360	Feb-02-04
68107986 1			140,250.00	139,576.56	Sep-17-04	7.990%	FL - 84.49%	Paid Off - 360	Jan-22-04
68112549 1			205,000.00	204,015.70	Sep-28-04	7.990%	MA - 74.55%	Paid Off - 360	Jan-29-04
68135581 1			166,250.00	165,277.33	Sep-16-04	6.990%	KS - 92.36%	Paid Off - 360	Jan-29-04
68160068 1			141,000.00	140,481.31	Sep-21-04	8.750%	CA - 75.00%	Paid Off - 360	Feb-05-04
68216563 1			85,500.00	84,924.57	Sep-30-04	8.600%	MI - 65.77%	Paid Off - 360	Jan-26-04
68248384 1			105,600.00	105,219.81	Sep-30-04	9.400%	FL - 84.48%	Paid Off - 360	Jan-30-04
68284587 1			300,000.00	297,873.78	Sep-29-04	5.990%	NY - 50.00%	Paid Off - 360	Jan-29-04
68293281 1			213,000.00	210,477.22	Oct-04-04	5.990%	NY - 65.90%	Paid Off - 360	Jan-31-04
68368323 1			148,000.00	147,318.74	Sep-27-04	8.200%	MD - 59.20%	Paid Off - 360	Jan-31-04
68382100 1			88,500.00	88,099.69	Sep-30-04	7.500%	WI - 82.33%	Paid Off - 360	Feb-05-04
68435148 1			147,000.00	146,221.83	Oct-01-04	7.500%	CA - 60.00%	Paid Off - 360	Feb-03-04
68534841 1			200,000.00	198,760.00	Sep-23-04	6.990%	IL - 83.68%	Paid Off - 360	Feb-06-04
68590264 1			213,500.00	212,663.30	Oct-04-04	8.990%	CA - 70.00%	Paid Off - 360	Jan-31-04
68594423 1			144,000.00	142,156.20	Sep-30-04	7.550%	MD - 50.53%	Paid Off - 240	Jan-30-04
68621523 1			101,500.00	101,318.50	Sep-16-04	12.650%	MA - 70.00%	Paid Off - 360	Jan-30-04
68623180 1			141,500.00	140,488.56	Oct-04-04	5.500%	CA - 58.33%	Paid Off - 360	Feb-03-04
68637966 1			140,000.00	138,082.87	Oct-04-04	5.650%	MD - 77.41%	Paid Off - 240	Feb-05-04
68676022 1			278,000.00	276,694.33	Sep-28-04	8.100%	MI - 89.97%	Paid Off - 360	Jan-30-04
68734482 1			94,000.00	93,647.61	Oct-04-04	9.550%	WI - 43.52%	Paid Off - 360	Jan-31-04
68762665 1			100,000.00	99,432.90	Sep-30-04	7.150%	MA - 86.96%	Paid Off - 360	Jan-31-04
68790906 1			165,250.00	164,552.82	Oct-07-04	7.850%	CA - 55.08%	Paid Off - 360	Feb-03-04
68849082 1			148,750.00	147,978.01	Sep-17-04	7.600%	CA - 74.38%	Paid Off - 360	Jan-29-04
68878982 1			82,500.00	82,285.67	Sep-29-04	10.200%	FL - 75.00%	Paid Off - 360	Feb-06-04
68896364 1			171,000.00	170,034.88	Sep-23-04	7.250%	RI - 74.35%	Paid Off - 360	Jan-31-04
68993740 1			242,000.00	240,780.43	Sep-30-04	6.950%	NH - 84.91%	Paid Off - 360	Feb-06-04
69006583 1			243,000.00	241,833.20	Sep-20-04	7.990%	MA - 67.50%	Paid Off - 360	Jan-31-04
69098341 1			180,000.00	179,065.82	Sep-28-04	7.600%	CA - 68.97%	Paid Off - 360	Jan-31-04
69161925 1			244,250.00	239,040.43	Sep-30-04	5.750%	CT - 81.42%	Paid Off - 180	Feb-06-04
69227007 1			230,000.00	228,514.20	Oct-01-04	5.650%	CA - 85.19%	Paid Off - 360	Feb-24-04
					Page 20 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for October 25, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
69239267 1			242,000.00	240,205.70	Oct-07-04	5.750%	NY - 84.62%	Paid Off - 360	Jan-31-04
69528040 1			123,250.00	122,859.14	Sep-28-04	9.250%	FL - 85.00%	Paid Off - 360	Feb-06-04
69619484 1			97,500.00	97,012.46	Sep-22-04	6.990%	CA - 88.64%	Paid Off - 360	Feb-29-04
69723021 1			275,000.00	273,383.38	Sep-27-04	6.150%	MA - 85.94%	Paid Off - 360	Feb-06-04
70051941 1			99,750.00	99,325.99	Oct-05-04	7.750%	CA - 75.00%	Paid Off - 360	Mar-15-04
70093125 1			110,000.00	109,624.70	Sep-16-04	7.990%	MO - 84.62%	Paid Off - 360	Mar-22-04
70821665 1			60,000.00	59,640.47	Sep-27-04	6.050%	WA - 22.93%	Paid Off - 360	Feb-26-04
70908728 1			102,000.00	101,758.14	Sep-28-04	9.750%	CA - 85.00%	Paid Off - 360	Mar-03-04
72057904 1			99,000.00	98,790.87	Sep-30-04	10.300%	MI - 75.00%	Paid Off - 360	Mar-11-04
72369408 1			75,000.00	73,626.66	Oct-01-04	7.990%	FL - 75.00%	Paid Off - 360	Mar-12-04
73837189 1			118,000.00	117,672.16	Oct-04-04	8.990%	CA - 84.89%	Paid Off - 360	Mar-29-04
52784063 2			72,000.00	71,675.19	Sep-27-04	10.990%	TX - 75.00%	Paid Off - 360	Aug-30-03
53039848 2			76,000.00	75,139.98	Sep-13-04	10.750%	PA - 80.00%	Paid Off - 360	Aug-19-03
53572020 2			70,000.00	69,649.61	Sep-30-04	10.500%	SC - 69.31%	Paid Off - 360	Aug-26-03
53901500 2			221,250.00	219,994.18	Oct-06-04	9.900%	WI - 75.00%	Paid Off - 360	Aug-28-03
54063227 2			139,500.00	138,149.81	Sep-22-04	7.250%	AZ - 90.00%	Paid Off - 360	Aug-26-03
54870720 2			65,000.00	64,666.82	Sep-23-04	11.350%	TX - 72.22%	Paid Off - 360	Aug-25-03
54911466 2			60,300.00	59,815.86	Oct-08-04	8.200%	FL - 81.49%	Paid Off - 360	Aug-30-03
58485764 2			68,000.00	67,789.14	Sep-28-04	11.990%	KS - 85.00%	Paid Off - 360	Oct-09-03
59320747 2			136,000.00	135,493.42	Oct-01-04	10.990%	NJ - 85.00%	Paid Off - 360	Oct-22-03
59709121 2			342,000.00	339,389.20	Sep-20-04	7.500%	MD - 89.76%	Paid Off - 360	Oct-21-03
60393824 2			135,000.00	134,106.94	Sep-29-04	9.500%	FL - 75.00%	Paid Off - 360	Oct-23-03
64995764 2			75,000.00	74,574.66	Oct-01-04	7.150%	MI - 62.50%	Paid Off - 360	Jan-06-04
66028986 2			75,000.00	74,807.12	Oct-07-04	10.990%	CA - 71.43%	Paid Off - 360	Jan-20-04
66488206 2			408,000.00	406,140.81	Sep-22-04	8.250%	CA - 89.67%	Paid Off - 360	Jan-23-04
66754268 2			102,000.00	101,621.17	Sep-23-04	9.250%	MI - 82.13%	Paid Off - 360	Jan-16-04
66766403 2			335,000.00	333,363.60	Oct-05-04	7.990%	MD - 72.83%	Paid Off - 360	Jan-29-04
66846742 2			69,700.00	69,398.02	Oct-06-04	8.500%	MI - 85.00%	Paid Off - 360	Jan-20-04
66854928 2			578,000.00	575,808.45	Sep-16-04	9.150%	NY - 85.00%	Paid Off - 360	Jan-29-04
67005389 2			160,000.00	159,194.03	Oct-07-04	7.750%	RI - 68.09%	Paid Off - 360	Jan-19-04
67063842 2			170,000.00	169,109.35	Oct-04-04	6.750%	FL - 68.00%	Paid Off - 360	Feb-06-04
67075747 2			599,000.00	595,147.30	Sep-27-04	6.500%	CT - 77.29%	Paid Off - 360	Jan-23-04
67102285 2			62,000.00	61,286.47	Sep-15-04	8.750%	WI - 59.05%	Paid Off - 240	Jan-21-04
67148262 2			414,000.00	411,259.63	Oct-06-04	6.350%	CA - 90.00%	Paid Off - 360	Jan-31-04
67247304 2			177,650.00	176,755.09	Sep-27-04	7.750%	RI - 85.00%	Paid Off - 360	Jan-26-04
67272385 2			60,000.00	59,811.01	Oct-06-04	9.300%	NH - 49.59%	Paid Off - 360	Feb-03-04
67297424 2			245,500.00	244,544.42	Sep-23-04	8.250%	IL - 89.27%	Paid Off - 360	Feb-05-04
67469445 2			175,500.00	174,543.09	Sep-22-04	7.350%	CA - 90.00%	Paid Off - 360	Jan-31-04
67574384 2			186,000.00	184,929.25	Sep-21-04	7.350%	CT - 86.51%	Paid Off - 360	Jan-29-04
67724443 2			206,250.00	205,441.69	Sep-27-04	8.990%	NY - 75.00%	Paid Off - 360	Feb-05-04
67782326 2			61,000.00	60,716.81	Sep-20-04	10.300%	MN - 84.72%	Paid Off - 360	Jan-29-04
67888586 2			514,000.00	511,609.56	Sep-16-04	8.150%	GA - 71.89%	Paid Off - 360	Jan-31-04
67965566 2			80,000.00	79,638.11	Sep-30-04	7.500%	CA - 47.06%	Paid Off - 360	Feb-04-04
68215961 2			378,800.00	376,929.49	Sep-28-04	7.850%	NY - 43.05%	Paid Off - 360	Jan-31-04
68263045 2			365,000.00	363,649.52	Sep-30-04	8.500%	MD - 84.88%	Paid Off - 360	Feb-03-04
68396589 2			157,000.00	156,246.16	Oct-01-04	7.990%	CA - 71.36%	Paid Off - 360	Jan-31-04
68411867 2			136,950.00	136,287.09	Sep-23-04	7.950%	IL - 83.00%	Paid Off - 360	Jan-28-04
68420066 2			185,497.00	184,562.56	Sep-21-04	7.750%	NV - 82.44%	Paid Off - 360	Jan-30-04
68482348 2			400,000.00	397,548.13	Sep-22-04	6.750%	MI - 80.00%	Paid Off - 360	Jan-29-04
68754100 2			76,500.00	76,132.67	Sep-16-04	7.990%	FL - 85.00%	Paid Off - 360	Jan-29-04
68968643 2			560,000.00	556,149.44	Sep-27-04	6.150%	CA - 82.60%	Paid Off - 360	Jan-31-04
68982743 2			216,000.00	214,609.22	Sep-30-04	6.990%	CA - 89.26%	Paid Off - 360	Jan-31-04
					Page 21 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for October 25, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
69019008 2			297,000.00	295,413.58	Sep-13-04	6.650%	CA - 88.66%	Paid Off - 360	Feb-03-04
69182061 2			60,000.00	59,497.10	Sep-13-04	9.700%	FL - 48.00%	Paid Off - 240	Feb-05-04
69439446 2			365,500.00	363,351.10	Oct-04-04	6.150%	CA - 85.00%	Paid Off - 360	Feb-06-04
69633626 2			340,000.00	337,962.96	Oct-06-04	6.050%	CA - 85.00%	Paid Off - 360	Feb-06-04
71939789 2			82,500.00	81,864.59	Oct-04-04	12.450%	FL - 75.00%	Paid Off - 360	Mar-08-04
72588601 2			60,000.00	59,219.84	Oct-05-04	9.350%	FL - 46.15%	Paid Off - 180	Mar-17-04
72860521 2			370,000.00	368,716.49	Sep-30-04	7.900%	MA - 82.22%	Paid Off - 360	Mar-11-04
					Page 22 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Realized Loss Report for October 25, 2004 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Cumulative
	Number of Loans Liquidated					-	1	1
	Collateral Realized Loss/(Gain) Amount					-	27,175.53	27,175.53
	Net Liquidation Proceeds					-	91,628.63	91,628.63
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
	Group 1						3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 23 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Realized Loss Report for October 25, 2004 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL
	MDR					0.00%	0.00%	0.00%
	3 Months Avg MDR					0.00%	0.01%	0.01%
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%
	CDR					0.00%	0.00%	0.00%
	3 Months Avg CDR					0.00%	0.10%	0.06%
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.05%	0.03%
	SDA					0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation					0.00%	0.68%	0.45%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.43%	0.28%
	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off
	Group 1
	Group 2
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 24 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Realized Loss Report for October 25, 2004 Distribution
	Realized Loss Report - Collateral
	Group 1
	Group 2
CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off
SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) *.......*(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.
				Page 25 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for October 25, 2004 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY							LOAN GROUP
Total Loan Count Current Losses = 0
Total Loan Count Revisions = 0						Loan Group 1 = Group 1
Total Prior Principal Balance = 0.00						Loan Group 2 = Group 2
Total Current Realized Loss Amount = 0.00
Total Revisions Amount = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
Loan Number			Current	State &		Prior	Realized		Cumulative
&		Loan	Note	LTV at	Original	Principal	Loss/(Gain)	Realized	Realized
Loan Group		Status	Rate	Origination	Term	Balance	Revisions	Loss/(Gain)	Loss/(Gain)
SPACE INTENTIONALLY LEFT BLANK
					Page 26 of 27				© COPYRIGHT 2004 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2004-R2
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for October 25, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS						GROUP 2	GROUP 1	TOTAL
	Trigger Event in effect							No
	Stepdown Date has occurred							No
	Balances 60+ days							18,035,639.71
	Ending Balance							663,343,549.42
	Delinquency Percentage							2.72%
	Balance of Mezzanine and C Class							108,000,003.51
	Ending Balance							663,343,549.42
	Credit Enhancement Percentage							16.28%
ADJUSTABLE RATE CERTIFICATE INFORMATION						GROUP 2	GROUP 1	TOTAL
	Net WAC Rate Carryover Amt: Class A							0.00
	Net WAC Rate Carryover Amt: Class M-1							0.00
	Net WAC Rate Carryover Amt: Class M-2							0.00
	Net WAC Rate Carryover Amt: Class M-3							0.00
	Net WAC Rate Carryover Amt: Class M-4							0.00
	Net WAC Rate Carryover Amt: Class M-5							0.00
	Net WAC Rate Carryover Amt: Class M-6							0.00
	Net WAC Rate Carryover Amt: Class M-7							0.00
	Net WAC Rate Carryover Amt: Class M-8							0.00
	Net WAC Rate Carryover Amt: Class M-9							0.00
	Net WAC Rate Carryover Amt: Class A unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-1 unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-2 unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-3 unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-4 unpaid							0.00
ADDITIONAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Libor for Current Period							1.840000%
	Current Period loan level losses							0.00
	Current Recoveries or Losses from Prior periods							0.00
	Total Current Losses							0.00
	Net WAC Rate Carryover Reserve Account							1,000.00
				Page 27 of 27				© COPYRIGHT 2004 Deutsche Bank