8-K 1 fld04002_jun.txt JUNE 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): June 25, 2004 FIELDSTONE MORTGAGE INVESTMENT TRUST Mortgage Backed Notes, Series 2004-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-109307-06 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) ITEM 5. Other Events On June 25, 2004 a distribution was made to holders of FIELDSTONE MORTGAGE INVESTMENT TRUST, Mortgage Backed Notes, Series 2004-2 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Backed Notes, Series 2004-2 Trust, relating to the June 25, 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 Notes, Series 2004-2 Trust 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: 6/29/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Backed Certificates, Series 2004-2 Trust, relating to the June 25, 2004 distribution. EX-99.1
Fieldstone Mortgage Company Mortgage Backed Notes Record Date: 5/31/2004 Distribution Date: 6/25/2004 FLD Series: 2004-2 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 31659TAW5 SEN 1.34000% 354,136,123.19 408,633.74 4,757,800.61 2-A 31659TAX3 SEN 1.36000% 246,891,329.19 289,137.18 4,867,621.11 2-A1 31659TBF1 SEN 1.26000% 86,876,949.71 94,261.49 2,071,659.54 2-A2 31659TBG9 SEN 1.52000% 18,200,000.00 23,821.78 0.00 A-IO 31659TAY1 SEN 4.00000% 0.00 867,753.34 0.00 M1 31659TAZ8 MEZ 1.65000% 54,120,000.00 76,895.50 0.00 M2 31659TBA2 MEZ 2.25000% 41,800,000.00 80,987.50 0.00 M3 31659TBB0 MEZ 2.50000% 13,200,000.00 28,416.67 0.00 M4 31659TBC8 MEZ 3.10000% 11,000,000.00 29,363.89 0.00 M5 31659TBD6 MEZ 3.25000% 11,000,000.00 30,784.72 0.00 M6 31659TBE4 MEZ 4.35000% 13,200,000.00 49,445.00 0.00 Owner Cert IELDS042OTC SEN 0.00000% 0.01 1,428,187.93 0.00 Totals 850,424,402.10 3,407,688.74 11,697,081.26
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A 0.00 349,378,322.58 5,166,434.35 0.00 2-A 0.00 242,023,708.09 5,156,758.29 0.00 2-A1 0.00 84,805,290.16 2,165,921.03 0.00 2-A2 0.00 18,200,000.00 23,821.78 0.00 A-IO 0.00 0.00 867,753.34 0.00 M1 0.00 54,120,000.00 76,895.50 0.00 M2 0.00 41,800,000.00 80,987.50 0.00 M3 0.00 13,200,000.00 28,416.67 0.00 M4 0.00 11,000,000.00 29,363.89 0.00 M5 0.00 11,000,000.00 30,784.72 0.00 M6 0.00 13,200,000.00 49,445.00 0.00 Owner Cert 0.00 0.01 1,428,187.93 0.00 Totals 0.00 838,727,320.84 15,104,770.00 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 356,400,000.00 354,136,123.19 0.00 4,757,800.61 0.00 0.00 2-A 250,000,000.00 246,891,329.19 0.00 4,867,621.11 0.00 0.00 2-A1 88,200,000.00 86,876,949.71 0.00 2,071,659.54 0.00 0.00 2-A2 18,200,000.00 18,200,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M1 54,120,000.00 54,120,000.00 0.00 0.00 0.00 0.00 M2 41,800,000.00 41,800,000.00 0.00 0.00 0.00 0.00 M3 13,200,000.00 13,200,000.00 0.00 0.00 0.00 0.00 M4 11,000,000.00 11,000,000.00 0.00 0.00 0.00 0.00 M5 11,000,000.00 11,000,000.00 0.00 0.00 0.00 0.00 M6 13,200,000.00 13,200,000.00 0.00 0.00 0.00 0.00 Owner Cert 0.01 0.01 0.00 0.00 0.00 0.00 Totals 857,120,000.01 850,424,402.10 0.00 11,697,081.26 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 4,757,800.61 349,378,322.58 0.98029832 4,757,800.61 2-A 4,867,621.11 242,023,708.09 0.96809483 4,867,621.11 2-A1 2,071,659.54 84,805,290.16 0.96151123 2,071,659.54 2-A2 0.00 18,200,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M1 0.00 54,120,000.00 1.00000000 0.00 M2 0.00 41,800,000.00 1.00000000 0.00 M3 0.00 13,200,000.00 1.00000000 0.00 M4 0.00 11,000,000.00 1.00000000 0.00 M5 0.00 11,000,000.00 1.00000000 0.00 M6 0.00 13,200,000.00 1.00000000 0.00 Owner Cert 0.00 0.01 1.00000000 0.00 Totals 11,697,081.26 838,727,320.84 0.97854130 11,697,081.26
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A 356,400,000.00 993.64793263 0.00000000 13.34960889 0.00000000 2-A 250,000,000.00 987.56531676 0.00000000 19.47048444 0.00000000 2-A1 88,200,000.00 984.99942982 0.00000000 23.48820340 0.00000000 2-A2 18,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 54,120,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 41,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 13,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 11,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 11,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 13,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 Owner Cert 0.01 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 13.34960889 980.29832374 0.98029832 13.34960889 2-A 0.00000000 19.47048444 968.09483236 0.96809483 19.47048444 2-A1 0.00000000 23.48820340 961.51122630 0.96151123 23.48820340 2-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 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 1.00000000 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 356,400,000.00 1.34000% 354,136,123.19 408,633.74 0.00 0.00 2-A 250,000,000.00 1.36000% 246,891,329.19 289,137.18 0.00 0.00 2-A1 88,200,000.00 1.26000% 86,876,949.71 94,261.49 0.00 0.00 2-A2 18,200,000.00 1.52000% 18,200,000.00 23,821.78 0.00 0.00 A-IO 0.00 4.00000% 260,326,000.00 867,753.33 0.00 0.00 M1 54,120,000.00 1.65000% 54,120,000.00 76,895.50 0.00 0.00 M2 41,800,000.00 2.25000% 41,800,000.00 80,987.50 0.00 0.00 M3 13,200,000.00 2.50000% 13,200,000.00 28,416.67 0.00 0.00 M4 11,000,000.00 3.10000% 11,000,000.00 29,363.89 0.00 0.00 M5 11,000,000.00 3.25000% 11,000,000.00 30,784.72 0.00 0.00 M6 13,200,000.00 4.35000% 13,200,000.00 49,445.00 0.00 0.00 Owner Cert 0.01 0.00000% 0.01 0.00 0.00 0.00 Totals 857,120,000.01 1,979,500.80 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 0.00 0.00 408,633.74 0.00 349,378,322.58 2-A 0.00 0.00 289,137.18 0.00 242,023,708.09 2-A1 0.00 0.00 94,261.49 0.00 84,805,290.16 2-A2 0.00 0.00 23,821.78 0.00 18,200,000.00 A-IO (0.01) 0.00 867,753.34 0.00 260,326,000.00 M1 0.00 0.00 76,895.50 0.00 54,120,000.00 M2 0.00 0.00 80,987.50 0.00 41,800,000.00 M3 0.00 0.00 28,416.67 0.00 13,200,000.00 M4 0.00 0.00 29,363.89 0.00 11,000,000.00 M5 0.00 0.00 30,784.72 0.00 11,000,000.00 M6 0.00 0.00 49,445.00 0.00 13,200,000.00 Owner Cert 0.00 0.00 1,428,187.93 0.00 0.01 Totals (0.01) 0.00 3,407,688.74 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 1-A 356,400,000.00 1.34000% 993.64793263 1.14655932 0.00000000 0.00000000 2-A 250,000,000.00 1.36000% 987.56531676 1.15654872 0.00000000 0.00000000 2-A1 88,200,000.00 1.26000% 984.99942982 1.06872438 0.00000000 0.00000000 2-A2 18,200,000.00 1.52000% 1000.00000000 1.30888901 0.00000000 0.00000000 A-IO 0.00 4.00000% 1000.00000000 3.33333332 0.00000000 0.00000000 M1 54,120,000.00 1.65000% 1000.00000000 1.42083333 0.00000000 0.00000000 M2 41,800,000.00 2.25000% 1000.00000000 1.93750000 0.00000000 0.00000000 M3 13,200,000.00 2.50000% 1000.00000000 2.15277803 0.00000000 0.00000000 M4 11,000,000.00 3.10000% 1000.00000000 2.66944455 0.00000000 0.00000000 M5 11,000,000.00 3.25000% 1000.00000000 2.79861091 0.00000000 0.00000000 M6 13,200,000.00 4.35000% 1000.00000000 3.74583333 0.00000000 0.00000000 Owner Cert 0.01 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes per $1000.00 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 0.00000000 0.00000000 1.14655932 0.00000000 980.29832374 2-A 0.00000000 0.00000000 1.15654872 0.00000000 968.09483236 2-A1 0.00000000 0.00000000 1.06872438 0.00000000 961.51122630 2-A2 0.00000000 0.00000000 1.30888901 0.00000000 1000.00000000 A-IO (0.00000004) 0.00000000 3.33333336 0.00000000 1000.00000000 M1 0.00000000 0.00000000 1.42083333 0.00000000 1000.00000000 M2 0.00000000 0.00000000 1.93750000 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.15277803 0.00000000 1000.00000000 M4 0.00000000 0.00000000 2.66944455 0.00000000 1000.00000000 M5 0.00000000 0.00000000 2.79861091 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.74583333 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 15,468,365.76 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 15,468,365.76 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 363,595.76 Payment of Interest and Principal 15,104,770.00 Total Withdrawals (Pool Distribution Amount) 15,468,365.76 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 363,595.76 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 363,595.76
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 0.00 0.00 0.00 0.00 SWAP Counterparty Account 0.00 0.00 655,619.51 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 17 0 0 0 17 2,484,216.38 0.00 0.00 0.00 2,484,216.38 60 Days 0 0 3 0 3 0.00 0.00 659,900.00 0.00 659,900.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 17 0 3 0 20 2,484,216.38 0.00 659,900.00 0.00 3,144,116.38 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.365749% 0.000000% 0.000000% 0.000000% 0.365749% 0.288296% 0.000000% 0.000000% 0.000000% 0.288296% 60 Days 0.000000% 0.000000% 0.064544% 0.000000% 0.064544% 0.000000% 0.000000% 0.076582% 0.000000% 0.076582% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.365749% 0.000000% 0.064544% 0.000000% 0.430293% 0.288296% 0.000000% 0.076582% 0.000000% 0.364879%
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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 10 0 0 0 10 1,387,603.20 0.00 0.00 0.00 1,387,603.20 60 Days 0 0 1 0 1 0.00 0.00 230,400.00 0.00 230,400.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 10 0 1 0 11 1,387,603.20 0.00 230,400.00 0.00 1,618,003.20 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.388199% 0.000000% 0.000000% 0.000000% 0.388199% 0.320507% 0.000000% 0.000000% 0.000000% 0.320507% 60 Days 0.000000% 0.000000% 0.038820% 0.000000% 0.038820% 0.000000% 0.000000% 0.053218% 0.000000% 0.053218% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.388199% 0.000000% 0.038820% 0.000000% 0.427019% 0.320507% 0.000000% 0.053218% 0.000000% 0.373725% 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 7 0 0 0 7 1,096,613.18 0.00 0.00 0.00 1,096,613.18 60 Days 0 0 2 0 2 0.00 0.00 429,500.00 0.00 429,500.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 7 0 2 0 9 1,096,613.18 0.00 429,500.00 0.00 1,526,113.18 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.337838% 0.000000% 0.000000% 0.000000% 0.337838% 0.255771% 0.000000% 0.000000% 0.000000% 0.255771% 60 Days 0.000000% 0.000000% 0.096525% 0.000000% 0.096525% 0.000000% 0.000000% 0.100175% 0.000000% 0.100175% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.337838% 0.000000% 0.096525% 0.000000% 0.434363% 0.255771% 0.000000% 0.100175% 0.000000% 0.355946%
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 Fixed & Mixed ARM Weighted Average Gross Coupon 6.848002% Weighted Average Net Coupon 6.180169% Weighted Average Pass-Through Rate 6.348002% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 3,490 Number Of Loans Paid In Full (1,158) Ending Scheduled Collateral Loan Count 4,648 Beginning Scheduled Collateral Balance 653,329,419.96 Ending Scheduled Collateral Balance 861,607,320.83 Ending Actual Collateral Balance at 31-May-2004 861,688,534.89 Monthly P &I Constant 5,324,985.32 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 861,607,320.83 Scheduled Principal 345,175.81 Unscheduled Principal 10,677,374.33
Prepayment Premiums $121,625.62 Libor Rate 1.10%
Miscellaneous Reporting Overcollateralization Deficiency 0.00 Required Overcollateralization 22,880,000.00
Group Level Collateral Statement Group 1 2 Total Collateral Description Mixed Fixed Mixed ARM Fixed & Mixed ARM Weighted Average Coupon Rate 6.859409 6.836540 6.848002 Weighted Average Net Rate 6.192463 6.167813 6.180169 Weighted Average Maturity 356 356 1 Beginning Loan Count 1,922 1,568 3,490 Loans Paid In Full (654) (504) (1,158) Ending Loan Count 2,576 2,072 4,648 Beginning Scheduled Balance 327,899,183.84 325,430,236.12 653,329,419.96 Ending scheduled Balance 432,898,856.39 428,708,464.44 861,607,320.83 Record Date 05/31/2004 05/31/2004 05/31/2004 Principal And Interest Constant 2,689,423.45 2,635,561.87 5,324,985.32 Scheduled Principal 189,270.14 155,905.67 345,175.81 Unscheduled Principal 4,294,164.20 6,383,210.13 10,677,374.33 Scheduled Interest 2,500,153.31 2,479,656.20 4,979,809.51 Servicing Fees 182,242.60 181,353.16 363,595.76 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 2,317,910.71 2,298,303.04 4,616,213.75 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.359409 6.336540 6.348002