-----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, Dqkeb/iIHqgYYfWBUrpsbb15uBmeGs2XlmgbGGopj87OeEVEfNUsmLiB8H3zh77b 2k8HZNq5WJPZEBpi35XhOg== 0001056404-05-000309.txt : 20050105 0001056404-05-000309.hdr.sgml : 20050105 20050105155526 ACCESSION NUMBER: 0001056404-05-000309 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041227 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050105 DATE AS OF CHANGE: 20050105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEAR STEARNS ASSET BACKED SECURITIES I TRUST 2004-AC2 CENTRAL INDEX KEY: 0001289090 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-113636-02 FILM NUMBER: 05512672 BUSINESS ADDRESS: STREET 1: 383 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10179 BUSINESS PHONE: 2122722000 8-K 1 bsa04ac2_dec.txt DECEMBER 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): December 27, 2004 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2004-AC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-113636-02 54-2151924 Pooling and Servicing Agreement) (Commission 54-2151925 (State or other File Number) 54-2151926 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 December 27, 2004 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset Backed Certificates, Series 2004-AC2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-AC2 Trust, relating to the December 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. BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2004-AC2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 12/30/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-AC2 Trust, relating to the December 27, 2004 distribution. EX-99.1
Bear Stearns Asset Backed Securities Asset Backed Certificates Record Date: 11/30/2004 Distribution Date: 12/27/2004 Bear Stearns Asset Backed Securities Asset Backed Certificates Series 2004-AC2 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 I-A1 073879AA6 SEN 5.25000% 87,778,029.95 384,028.89 1,907,958.87 I-A2 073879AB4 SEN 5.25000% 4,537,091.00 19,849.77 0.00 I-A3 073879AC2 SEN 2.68000% 34,618,170.26 77,313.91 715,484.58 I-A4 073879AD0 SEN 5.32000% 0.00 153,473.89 0.00 II-A 073879AG3 SEN 5.00000% 75,130,826.09 313,045.10 1,666,327.64 I-X 073879AE8 SEN 0.83046% 0.00 68,101.63 0.00 II-X 073879AH1 SEN 0.51243% 0.00 29,620.55 0.00 I-PO 073879AF5 SEN 0.00000% 1,806,292.64 0.00 53,423.66 II-PO 073879AJ7 SEN 0.00000% 222,481.63 0.00 2,146.33 B-1 073879AK4 SUB 5.66225% 6,948,850.65 32,788.44 13,420.71 B-2 073879AL2 SUB 5.66225% 3,875,168.70 18,285.15 7,484.34 B-3 073879AM0 SUB 5.66225% 2,538,699.42 11,978.96 4,903.14 B-4 073879AR9 SUB 5.66225% 2,004,703.93 9,459.28 3,871.80 B-5 073879AS7 SUB 5.66225% 801,486.75 3,781.85 1,547.96 B-6 073879AT5 SUB 5.66225% 2,539,862.17 11,984.45 4,905.38 P 073879AV0 SEN 0.00000% 100.00 0.00 0.00 R-1 073879AN8 RES 5.00000% 0.00 0.00 0.00 R-2 073879AP3 RES 5.00000% 0.00 0.00 0.00 R-3 073879AQ1 RES 5.00000% 0.00 0.00 0.00 Totals 222,801,763.19 1,133,711.87 4,381,474.41
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A1 0.00 85,870,071.08 2,291,987.76 0.00 I-A2 0.00 4,537,091.00 19,849.77 0.00 I-A3 0.00 33,902,685.68 792,798.49 0.00 I-A4 0.00 0.00 153,473.89 0.00 II-A 0.00 73,464,498.45 1,979,372.74 0.00 I-X 0.00 0.00 68,101.63 0.00 II-X 0.00 0.00 29,620.55 0.00 I-PO 0.00 1,752,868.98 53,423.66 0.00 II-PO 0.00 220,335.30 2,146.33 0.00 B-1 0.00 6,935,429.94 46,209.15 0.00 B-2 0.00 3,867,684.37 25,769.49 0.00 B-3 0.00 2,533,796.28 16,882.10 0.00 B-4 0.00 2,000,832.13 13,331.08 0.00 B-5 0.00 799,938.79 5,329.81 0.00 B-6 0.00 2,534,956.79 16,889.83 0.00 P 0.00 100.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 218,420,288.79 5,515,186.28 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) I-A1 114,500,000.00 87,778,029.95 83,672.87 1,824,286.00 0.00 0.00 I-A2 4,537,091.00 4,537,091.00 0.00 0.00 0.00 0.00 I-A3 44,638,909.00 34,618,170.26 31,377.33 684,107.25 0.00 0.00 I-A4 0.00 0.00 0.00 0.00 0.00 0.00 II-A 85,959,000.00 75,130,826.09 296,098.16 1,370,229.48 0.00 0.00 I-X 0.00 0.00 0.00 0.00 0.00 0.00 II-X 0.00 0.00 0.00 0.00 0.00 0.00 I-PO 1,920,994.00 1,806,292.64 1,836.37 51,587.29 0.00 0.00 II-PO 256,831.00 222,481.63 971.83 1,174.49 0.00 0.00 B-1 7,040,000.00 6,948,850.65 13,420.71 0.00 0.00 0.00 B-2 3,926,000.00 3,875,168.70 7,484.34 0.00 0.00 0.00 B-3 2,572,000.00 2,538,699.42 4,903.14 0.00 0.00 0.00 B-4 2,031,000.00 2,004,703.93 3,871.80 0.00 0.00 0.00 B-5 812,000.00 801,486.75 1,547.96 0.00 0.00 0.00 B-6 2,573,178.01 2,539,862.17 4,905.38 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 R-3 50.00 0.00 0.00 0.00 0.00 0.00 Totals 270,767,253.01 222,801,763.19 450,089.89 3,931,384.51 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 I-A1 1,907,958.87 85,870,071.08 0.74995695 1,907,958.87 I-A2 0.00 4,537,091.00 1.00000000 0.00 I-A3 715,484.58 33,902,685.68 0.75948733 715,484.58 I-A4 0.00 0.00 0.00000000 0.00 II-A 1,666,327.64 73,464,498.45 0.85464580 1,666,327.64 I-X 0.00 0.00 0.00000000 0.00 II-X 0.00 0.00 0.00000000 0.00 I-PO 53,423.66 1,752,868.98 0.91248020 53,423.66 II-PO 2,146.33 220,335.30 0.85789994 2,146.33 B-1 13,420.71 6,935,429.94 0.98514630 13,420.71 B-2 7,484.34 3,867,684.37 0.98514630 7,484.34 B-3 4,903.14 2,533,796.28 0.98514630 4,903.14 B-4 3,871.80 2,000,832.13 0.98514630 3,871.80 B-5 1,547.96 799,938.79 0.98514629 1,547.96 B-6 4,905.38 2,534,956.79 0.98514630 4,905.38 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 4,381,474.41 218,420,288.79 0.80667173 4,381,474.41
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A1 114,500,000.00 766.62034891 0.73076742 15.93262882 0.00000000 I-A2 4,537,091.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A3 44,638,909.00 775.51559918 0.70291436 15.32535775 0.00000000 I-A4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A 85,959,000.00 874.03094603 3.44464407 15.94050047 0.00000000 I-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-PO 1,920,994.00 940.29062038 0.95594781 26.85447742 0.00000000 II-PO 256,831.00 866.25691603 3.78392795 4.57300715 0.00000000 B-1 7,040,000.00 987.05264915 1.90635085 0.00000000 0.00000000 B-2 3,926,000.00 987.05264901 1.90635252 0.00000000 0.00000000 B-3 2,572,000.00 987.05265163 1.90635303 0.00000000 0.00000000 B-4 2,031,000.00 987.05264894 1.90635155 0.00000000 0.00000000 B-5 812,000.00 987.05264778 1.90635468 0.00000000 0.00000000 B-6 2,573,178.01 987.05264857 1.90635082 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 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 I-A1 0.00000000 16.66339624 749.95695266 0.74995695 16.66339624 I-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 I-A3 0.00000000 16.02827211 759.48732708 0.75948733 16.02827211 I-A4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A 0.00000000 19.38514455 854.64580149 0.85464580 19.38514455 I-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-PO 0.00000000 27.81042523 912.48019515 0.91248020 27.81042523 II-PO 0.00000000 8.35697404 857.89994199 0.85789994 8.35697404 B-1 0.00000000 1.90635085 985.14629830 0.98514630 1.90635085 B-2 0.00000000 1.90635252 985.14629903 0.98514630 1.90635252 B-3 0.00000000 1.90635303 985.14629860 0.98514630 1.90635303 B-4 0.00000000 1.90635155 985.14629739 0.98514630 1.90635155 B-5 0.00000000 1.90635468 985.14629310 0.98514629 1.90635468 B-6 0.00000000 1.90635082 985.14629775 0.98514630 1.90635082 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 I-A1 114,500,000.00 5.25000% 87,778,029.95 384,028.88 0.00 0.00 I-A2 4,537,091.00 5.25000% 4,537,091.00 19,849.77 0.00 0.00 I-A3 44,638,909.00 2.68000% 34,618,170.26 77,313.91 0.00 0.00 I-A4 0.00 5.32000% 34,618,170.26 153,473.89 0.00 0.00 II-A 85,959,000.00 5.00000% 75,130,826.09 313,045.11 0.00 0.00 I-X 0.00 0.83046% 98,405,343.27 68,101.63 0.00 0.00 II-X 0.00 0.51243% 69,364,645.16 29,620.55 0.00 0.00 I-PO 1,920,994.00 0.00000% 1,806,292.64 0.00 0.00 0.00 II-PO 256,831.00 0.00000% 222,481.63 0.00 0.00 0.00 B-1 7,040,000.00 5.66225% 6,948,850.65 32,788.44 0.00 0.00 B-2 3,926,000.00 5.66225% 3,875,168.70 18,285.15 0.00 0.00 B-3 2,572,000.00 5.66225% 2,538,699.42 11,978.96 0.00 0.00 B-4 2,031,000.00 5.66225% 2,004,703.93 9,459.28 0.00 0.00 B-5 812,000.00 5.66225% 801,486.75 3,781.85 0.00 0.00 B-6 2,573,178.01 5.66225% 2,539,862.17 11,984.45 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 50.00 5.00000% 0.00 0.00 0.00 0.00 R-2 50.00 5.00000% 0.00 0.00 0.00 0.00 R-3 50.00 5.00000% 0.00 0.00 0.00 0.00 Totals 270,767,253.01 1,133,711.87 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 I-A1 (0.01) 0.00 384,028.89 0.00 85,870,071.08 I-A2 0.00 0.00 19,849.77 0.00 4,537,091.00 I-A3 0.00 0.00 77,313.91 0.00 33,902,685.68 I-A4 0.00 0.00 153,473.89 0.00 33,902,685.68 II-A 0.00 0.00 313,045.10 0.00 73,464,498.45 I-X 0.00 0.00 68,101.63 0.00 97,497,896.37 II-X 0.00 0.00 29,620.55 0.00 68,114,362.72 I-PO 0.00 0.00 0.00 0.00 1,752,868.98 II-PO 0.00 0.00 0.00 0.00 220,335.30 B-1 0.00 0.00 32,788.44 0.00 6,935,429.94 B-2 0.00 0.00 18,285.15 0.00 3,867,684.37 B-3 0.00 0.00 11,978.96 0.00 2,533,796.28 B-4 0.00 0.00 9,459.28 0.00 2,000,832.13 B-5 0.00 0.00 3,781.85 0.00 799,938.79 B-6 0.00 0.00 11,984.45 0.00 2,534,956.79 P 0.00 0.00 0.00 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals (0.01) 0.00 1,133,711.87 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 I-A1 114,500,000.00 5.25000% 766.62034891 3.35396402 0.00000000 0.00000000 I-A2 4,537,091.00 5.25000% 1000.00000000 4.37499931 0.00000000 0.00000000 I-A3 44,638,909.00 2.68000% 775.51559918 1.73198476 0.00000000 0.00000000 I-A4 0.00 5.32000% 775.51559918 3.43811920 0.00000000 0.00000000 II-A 85,959,000.00 5.00000% 874.03094603 3.64179562 0.00000000 0.00000000 I-X 0.00 0.83046% 753.59537424 0.52152730 0.00000000 0.00000000 II-X 0.00 0.51243% 874.38402360 0.37338525 0.00000000 0.00000000 I-PO 1,920,994.00 0.00000% 940.29062038 0.00000000 0.00000000 0.00000000 II-PO 256,831.00 0.00000% 866.25691603 0.00000000 0.00000000 0.00000000 B-1 7,040,000.00 5.66225% 987.05264915 4.65744886 0.00000000 0.00000000 B-2 3,926,000.00 5.66225% 987.05264901 4.65745033 0.00000000 0.00000000 B-3 2,572,000.00 5.66225% 987.05265163 4.65744946 0.00000000 0.00000000 B-4 2,031,000.00 5.66225% 987.05264894 4.65744953 0.00000000 0.00000000 B-5 812,000.00 5.66225% 987.05264778 4.65745074 0.00000000 0.00000000 B-6 2,573,178.01 5.66225% 987.05264857 4.65745081 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 5.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 5.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 5.00000% 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 I-A1 (0.00000009) 0.00000000 3.35396410 0.00000000 749.95695266 I-A2 0.00000000 0.00000000 4.37499931 0.00000000 1000.00000000 I-A3 0.00000000 0.00000000 1.73198476 0.00000000 759.48732708 I-A4 0.00000000 0.00000000 3.43811920 0.00000000 759.48732708 II-A 0.00000000 0.00000000 3.64179551 0.00000000 854.64580149 I-X 0.00000000 0.00000000 0.52152730 0.00000000 746.64607897 II-X 0.00000000 0.00000000 0.37338525 0.00000000 858.62344431 I-PO 0.00000000 0.00000000 0.00000000 0.00000000 912.48019515 II-PO 0.00000000 0.00000000 0.00000000 0.00000000 857.89994199 B-1 0.00000000 0.00000000 4.65744886 0.00000000 985.14629830 B-2 0.00000000 0.00000000 4.65745033 0.00000000 985.14629903 B-3 0.00000000 0.00000000 4.65744946 0.00000000 985.14629860 B-4 0.00000000 0.00000000 4.65744953 0.00000000 985.14629739 B-5 0.00000000 0.00000000 4.65745074 0.00000000 985.14629310 B-6 0.00000000 0.00000000 4.65745081 0.00000000 985.14629775 P 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 5,574,577.23 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 92,682.52 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 5,667,259.75 Withdrawals Reimbursement for Servicer Advances 102,871.46 Payment of Service Fee 49,202.01 Payment of Interest and Principal 5,515,186.28 Total Withdrawals (Pool Distribution Amount) 5,667,259.75 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 46,416.98 Master Servicing Fee 2,785.03 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 49,202.01
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 100.00 0.00 0.00 100.00
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 2 0 0 2 255,473.73 0.00 0.00 255,473.73 30 Days 39 1 0 0 40 8,086,190.25 300,074.76 0.00 0.00 8,386,265.01 60 Days 13 1 0 0 14 3,491,920.98 160,071.38 0.00 0.00 3,651,992.36 90 Days 3 0 0 0 3 561,316.91 0.00 0.00 0.00 561,316.91 120 Days 0 0 1 0 1 0.00 0.00 369,057.89 0.00 369,057.89 150 Days 0 0 2 0 2 0.00 0.00 468,593.84 0.00 468,593.84 180+ Days 0 0 1 0 1 0.00 0.00 255,000.00 0.00 255,000.00 Totals 55 4 4 0 63 12,139,428.14 715,619.87 1,092,651.73 0.00 13,947,699.74 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 0.240674% 0.000000% 0.000000% 0.240674% 0.116772% 0.000000% 0.000000% 0.116772% 30 Days 4.693141% 0.120337% 0.000000% 0.000000% 4.813478% 3.696050% 0.137159% 0.000000% 0.000000% 3.833208% 60 Days 1.564380% 0.120337% 0.000000% 0.000000% 1.684717% 1.596093% 0.073166% 0.000000% 0.000000% 1.669259% 90 Days 0.361011% 0.000000% 0.000000% 0.000000% 0.361011% 0.256568% 0.000000% 0.000000% 0.000000% 0.256568% 120 Days 0.000000% 0.000000% 0.120337% 0.000000% 0.120337% 0.000000% 0.000000% 0.168690% 0.000000% 0.168690% 150 Days 0.000000% 0.000000% 0.240674% 0.000000% 0.240674% 0.000000% 0.000000% 0.214186% 0.000000% 0.214186% 180+ Days 0.000000% 0.000000% 0.120337% 0.000000% 0.120337% 0.000000% 0.000000% 0.116556% 0.000000% 0.116556% Totals 6.618532% 0.481348% 0.481348% 0.000000% 7.581227% 5.548711% 0.327097% 0.499431% 0.000000% 6.375238%
Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 2 0 0 2 255,473.73 0.00 0.00 255,473.73 30 Days 35 1 0 0 36 7,288,982.67 300,074.76 0.00 0.00 7,589,057.43 60 Days 13 1 0 0 14 3,491,920.98 160,071.38 0.00 0.00 3,651,992.36 90 Days 3 0 0 0 3 561,316.91 0.00 0.00 0.00 561,316.91 120 Days 0 0 1 0 1 0.00 0.00 369,057.89 0.00 369,057.89 150 Days 0 0 2 0 2 0.00 0.00 468,593.84 0.00 468,593.84 180 Days 0 0 1 0 1 0.00 0.00 255,000.00 0.00 255,000.00 Totals 51 4 4 0 59 11,342,220.56 715,619.87 1,092,651.73 0.00 13,150,492.16 0-29 Days 0.316957% 0.000000% 0.000000% 0.316957% 0.184371% 0.000000% 0.000000% 0.184371% 30 Days 5.546751% 0.158479% 0.000000% 0.000000% 5.705230% 5.260336% 0.216559% 0.000000% 0.000000% 5.476895% 60 Days 2.060222% 0.158479% 0.000000% 0.000000% 2.218700% 2.520061% 0.115521% 0.000000% 0.000000% 2.635582% 90 Days 0.475436% 0.000000% 0.000000% 0.000000% 0.475436% 0.405093% 0.000000% 0.000000% 0.000000% 0.405093% 120 Days 0.000000% 0.000000% 0.158479% 0.000000% 0.158479% 0.000000% 0.000000% 0.266343% 0.000000% 0.266343% 150 Days 0.000000% 0.000000% 0.316957% 0.000000% 0.316957% 0.000000% 0.000000% 0.338176% 0.000000% 0.338176% 180 Days 0.000000% 0.000000% 0.158479% 0.000000% 0.158479% 0.000000% 0.000000% 0.184029% 0.000000% 0.184029% Totals 8.082409% 0.633914% 0.633914% 0.000000% 9.350238% 8.185490% 0.516451% 0.788548% 0.000000% 9.490490% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 4 0 0 0 4 797,207.58 0.00 0.00 0.00 797,207.58 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 4 0 0 0 4 797,207.58 0.00 0.00 0.00 797,207.58 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.000000% 0.000000% 0.000000% 0.000000% 2.000000% 0.993847% 0.000000% 0.000000% 0.000000% 0.993847% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 2.000000% 0.000000% 0.000000% 0.000000% 2.000000% 0.993847% 0.000000% 0.000000% 0.000000% 0.993847%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 92,682.52
COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.371123% Weighted Average Net Coupon 6.121123% Weighted Average Pass-Through Rate 6.106123% Weighted Average Maturity(Stepdown Calculation ) 287 Beginning Scheduled Collateral Loan Count 843 Number Of Loans Paid In Full 12 Ending Scheduled Collateral Loan Count 831 Beginning Scheduled Collateral Balance 222,801,662.99 Ending Scheduled Collateral Balance 218,420,188.59 Ending Actual Collateral Balance at 30-Nov-2004 218,779,263.79 Monthly P &I Constant 1,633,003.82 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 218,420,188.59 Scheduled Principal 450,089.89 Unscheduled Principal 3,931,384.51
Miscellaneous Reporting Senior Prep. Percentage Group 1 100.000000% Senior Prep. Percentage Group 2 100.000000% Senior Percentage Group 1 91.107084% Senior Percentage Group 2 92.241988% Subordinate Percentage Group 1 8.892916% Subordinate Percentage Group 2 7.758012% Sub Prep. Percentage 0.000000% Three month rolling average .01696142%
Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed Fixed Mixed Fixed Mixed Fixed Weighted Average Coupon Rate 6.767264 5.686591 6.371123 Weighted Average Net Rate 6.517264 5.436591 6.121123 Weighted Average Maturity 349 168 287 Beginning Loan Count 639 204 843 Loans Paid In Full 8 4 12 Ending Loan Count 631 200 831 Beginning Scheduled Balance 141,129,477.98 81,672,185.01 222,801,662.99 Ending scheduled Balance 138,441,380.88 79,978,807.71 218,420,188.59 Record Date 11/30/2004 11/30/2004 11/30/2004 Principal And Interest Constant 924,000.23 709,003.59 1,633,003.82 Scheduled Principal 128,116.56 321,973.33 450,089.89 Unscheduled Principal 2,559,980.54 1,371,403.97 3,931,384.51 Scheduled Interest 795,883.67 387,030.26 1,182,913.93 Servicing Fees 29,401.91 17,015.07 46,416.98 Master Servicing Fees 1,764.15 1,020.88 2,785.03 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 764,717.61 368,994.31 1,133,711.92 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 6.502264 5.421591 6.106123
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