-----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, VWFXifZXgwdTgZiOs6j1OBAg6wxlftXeR58R6kWXBp4rY2DW/IK1YClgOwoHw0fA zpvf1VxrjVyjEZfE6z8FyA== 0001056404-04-002861.txt : 20040903 0001056404-04-002861.hdr.sgml : 20040903 20040903105321 ACCESSION NUMBER: 0001056404-04-002861 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040825 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20040903 DATE AS OF CHANGE: 20040903 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Home Equity Loan Asset-Backed Notes, Series 2004-2 CENTRAL INDEX KEY: 0001290745 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-108503-06 FILM NUMBER: 041015494 BUSINESS ADDRESS: STREET 1: LEHMAN ABS CORP STREET 2: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 BUSINESS PHONE: 2125267000 MAIL ADDRESS: STREET 1: LEHMAN ABS CORP STREET 2: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 8-K 1 lhe04002_aug.txt AUGUST 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): August 25, 2004 LEHMAN ABS CORPORATION Home Equity Loan Asset Backed Notes, Series 2004-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-108503-06 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) 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 August 25, 2004 a distribution was made to holders of LEHMAN ABS CORPORATION, Home Equity Loan Asset Backed Notes, Series 2004-2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan Asset Backed Notes, Series 2004-2 Trust, relating to the August 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. LEHMAN ABS CORPORATION Home Equity Loan Asset Backed Notes, Series 2004-2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Indenture Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 8/30/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan Asset Backed Notes, Series 2004-2 Trust, relating to the August 25, 2004 distribution. EX-99.1
LEHMAN ABS CORPORATION Home Equity Loan Asset Backed Notes Record Date: 7/31/04 Distribution Date: 8/25/04 LHE 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 A 525170BZ8 SEN 1.67000% 230,792,582.39 321,186.34 9,949,114.89 B 525170CA2 SUB 0.00000% 6,677,303.58 923,942.09 0.00 L 525170CB0 SUB 0.00000% 0.00 0.00 0.00 Totals 237,469,885.97 1,245,128.43 9,949,114.89
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 220,843,467.49 10,270,301.23 0.00 B 0.00 6,677,303.58 923,942.09 0.00 L 0.00 0.00 0.00 0.00 Totals 0.00 227,520,771.07 11,194,243.32 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A 260,414,000.00 230,792,582.39 0.00 9,949,114.89 0.00 0.00 B 6,678,143.00 6,677,303.58 0.00 0.00 0.00 0.00 L 0.00 0.00 0.00 0.00 0.00 0.00 Totals 267,092,143.00 237,469,885.97 0.00 9,949,114.89 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A 9,949,114.89 220,843,467.49 0.84804760 9,949,114.89 B 0.00 6,677,303.58 0.99987430 0.00 L 0.00 0.00 0.00000000 0.00 Totals 9,949,114.89 227,520,771.07 0.85184374 9,949,114.89
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 260,414,000.00 886.25259160 0.00000000 38.20499240 0.00000000 B 6,678,143.00 999.87430338 0.00000000 0.00000000 0.00000000 L 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes 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 A 0.00000000 38.20499240 848.04759917 0.84804760 38.20499240 B 0.00000000 0.00000000 999.87430338 0.99987430 0.00000000 L 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A 260,414,000.00 1.67000% 230,792,582.39 321,186.34 0.00 0.00 B 6,678,143.00 0.00000% 6,677,303.58 0.00 0.00 0.00 L 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 267,092,143.00 321,186.34 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A 0.00 0.00 321,186.34 0.00 220,843,467.49 B 0.00 0.00 923,942.09 0.00 6,677,303.58 L 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,245,128.43 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A 260,414,000.00 1.67000% 886.25259160 1.23336818 0.00000000 0.00000000 B 6,678,143.00 0.00000% 999.87430338 0.00000000 0.00000000 0.00000000 L 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes per $1,000 denomination
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A 0.00000000 0.00000000 1.23336818 0.00000000 848.04759917 B 0.00000000 0.00000000 138.35314548 0.00000000 999.87430338 L 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 11,330,036.92 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 11,330,036.92 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 135,793.60 Payment of Interest and Principal 11,194,243.32 Total Withdrawals (Pool Distribution Amount) 11,330,036.92 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 98,945.79 Owner Trustee Fee 250.00 Pool Insurance Fee 34,618.89 Wells Fargo Bank, N.A. 1,978.92 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 135,793.60
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 43 0 0 0 43 2,370,907.43 0.00 0.00 0.00 2,370,907.43 60 Days 9 0 0 0 9 373,701.98 0.00 0.00 0.00 373,701.98 90 Days 3 0 0 0 3 187,186.12 0.00 0.00 0.00 187,186.12 120 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 55 0 0 0 55 2,931,795.53 0.00 0.00 0.00 2,931,795.53 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 0.894901% 0.000000% 0.000000% 0.000000% 0.894901% 1.042062% 0.000000% 0.000000% 0.000000% 1.042062% 60 Days 0.187305% 0.000000% 0.000000% 0.000000% 0.187305% 0.164250% 0.000000% 0.000000% 0.000000% 0.164250% 90 Days 0.062435% 0.000000% 0.000000% 0.000000% 0.062435% 0.082272% 0.000000% 0.000000% 0.000000% 0.082272% 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 1.144641% 0.000000% 0.000000% 0.000000% 1.144641% 1.288584% 0.000000% 0.000000% 0.000000% 1.288584%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.978175% Weighted Average Net Coupon 6.478175% Weighted Average Pass-Through Rate 6.291973% Weighted Average Maturity(Stepdown Calculation ) 0 Beginning Scheduled Collateral Loan Count 5,732 Number Of Loans Paid In Full 927 Ending Scheduled Collateral Loan Count 4,805 Beginning Scheduled Collateral Balance 0.00 Ending Scheduled Collateral Balance 0.00 Ending Actual Collateral Balance at 31-Jul-2004 227,520,771.02 Monthly P &I Constant 0.00 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00
Servicing Advances Not Reported Policy draws $ 0.00
Miscellaneous Reporting Specified Overcollateralization Amount 6,677,303.58 Overcollateralization Amount 6,677,303.58 Overcollateralization Deficiency Amount 0.00 Overcollateralization Reduction Amount 0.00 Draw amount for Cendant loans 604,303.37 Draw amount for Greenpoint Bank loans 3,631,230.85 Rapid Amortization Event No Three Largest Loans 1,295,978.98
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