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 15, 2004


                                Lehman ABS Corporation
               (as depositor, Home Loan and Investment Bank FSB,
                as Seller and Servicer,and Deutsche Bank National
                         Trust Company, as Trustee).

                       Lehman Home Equity Loan Trust 2004-3
                (Exact name of Registrant as specified in its Charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-108503-07                         13-3447441
          (Commission File Number)        (I.R.S. Employer Identification No.)


          3 World Financial Center
          New York, New York                             10285
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (212) 526-7000


     Item 5.  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 7.  Financial Statement and Exhibits

     Exhibits:  (as noted in Item 5 above)

     Monthly Remittance Statement to the Certificateholders dated as of
     June 15, 2004.




                                     SIGNATURE


               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,
                                  not in its individual capacity, but solely
                                  as a duly authorized agent of the Registrant
                                  pursuant to the Pooling and Servicing
                                  Agreement, dated as of May 1,2004.


          Date:  Aug 05, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of June 15, 2004.






			

< TD ALIGN="right">< TD ALIGN="right">< TD ALIGN="left">< TD ALIGN="left">Interest on Insured Amounts Due< TD ALIGN="right">< TD ALIGN="right">© COPYRIGHT 2004 Deutsche Bank< TD ALIGN="right">< TD COLSPAN=9 ALIGN="left">Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)< TD ALIGN="right">< TD ALIGN="left">Spread Account Excess

	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	June 15, 2004 Distribution
	Contents
			TABLE OF CONTENTS
								Page
&n bsp;
			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				12
			8.	Prepayment Report				13
			9.	Prepayment Detail Report				16
			10.	Realized Loss Report				17
			11.	Realized Loss Detail Report				20
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				21
			13.	Other Related Information				22
			14.	Additional Certificate Report				23
				Total Number of Pages				23
								&nb sp;
			CONTACTS
				Administrator: Marion Hogan
				Direct Phone Number: (714)247-6282
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
										&n bsp;
ISSUANCE INFORMATION
	Seller:							Cut-Off Date: April 30, 2004
	Certificate Insurer(s):		AMBAC Indemnity Corporation					Closing Date: June 3, 2004
								First Payment Date: June 15, 2004
	Servicer(s):		Home Loan and Investment Master Servicer
								Distribution Date: June 15, 2004
	Underwriter(s):		Lehman Brothers Lead Underwriter					Record Date: June 14, 2004
						Page 1 of 23					© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Remic I Series 2004-3
	Certificate Payment Report for June 15, 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	PT	100,000,000.00			100,000,000.00	49,166.67	508,932.83	558,099.50	-	-	99,491,067.17
R	R	-			-	-	-	-	-	-	-
Total		100,000,000.00			100,000,000.00	49,166.67	508,932.83	558,099.50	-	-	99,491,067.17
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face						& nbsp;
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Princi pal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A				A-30/360	525180CH6	100,000,000.00	1,000.000000	0.491667	5.089328	5.580995	994.910672
R				A-30/360	525180CJ2	-	-	-	-	-	-
							Page 2 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certifica tes
	Remic I Series 2004-3
	Certificate Payment Report for June 15, 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	100,000,000.00		49,166.67		-	508,932.83	508,932.83	558,099.50	-	-	99,491,067.17
R	-		-		-	-	-	-	-	-	-
Total	100,000,000.00		49,166.67		-	508,932.83	508,932.83	558,099.50	-	-	99,491,067.17
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	D eferred	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	1.47500%	100,000,000.00			49,166.67	-	-	-	-	49,166.67	-
R		-			-	-	-	-	49,166.67	-	-
Total		100,000,000.00			49,166.67	-	-	-	49,166.67	49,166.67	-
							Page 3 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Collection Account Report for June 15, 2004 Distribution
					&nb sp;
	Collection Account Report
< /TD>
SUMMARY								TOTAL
	Principal Collections							508,932.83
	Principal Withdrawals							0.00
	Principal Other Accounts							0.00
	TOTAL NET PRINCIPAL							508,932.83
	Interest Collections							452,104.79
	Interest Withdrawals							0.00
	Interest Other Accounts							0.00
	Interest Fees							47,617.84
	TOTAL NET INTEREST							404,486.95
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS							913,419.78
	Class A Interest Distribution Amount							49,166.67
	Class A Principal Distribution Amount							508,932.83
	REMITTANCE AMOUNT							558,099.50
PRINCIPAL - COLLECTIONS								TOTAL
	Scheduled Principal							65,728.59
	Curtailments							11,803.13
	Prepayments in Full							431,401.11
	Repurchases/Substitutions							0.00
	Liquidations							0.00
	Insurance Principal							0.00
	Other Additional Principal							0.00
	Delinquent Principal							0.00
	Realized Losses							0.00
	Principal Recoveries							0.00
	Non Recoverable Advances							0.00
	Principal Advanced							0.00
	TOTAL PRINCIPAL COLLECTED							508,932.83
				Page 4 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Collection Account Report for June 15, 2004 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
	;
PRINCIPAL - OTHER ACCOUNTS				< /TD>				TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS								TOTAL
	Scheduled Interest							440,250.78
	Repurchases/Substitutions							0.00
	Liquidations							0.00
	Other Additional Interest							0.00
	Prepayment Interest Shortfalls							(28.54)
	Delinquent Interest							(1,971.58)
	Realized Losses							0.00
	Compensating Interest							28.54
	Other Interest Shortfall (Relief Act)							0.00
	Interest Advanced							1,869.77
	Capitalized Interest Deposit			< FONT SIZE="-1" FACE="Times New Roman">				11,955.82
	TOTAL INTEREST COLLECTED							452,104.79
										< /TD>
				Page 5 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Collection Account Report for June 15, 2004 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - OTHER ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - FEES								TOTAL
	Current Servicing Fees							31,432.80
	Trustee Fees							1,261.38
	Premium Amount					< /FONT>		14,923.66
	TOTAL INTEREST OTHER FEES							47,617.84
				Page 6 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3										< /TD>
	Credit Enhancement Report for June 15, 2004 Distribution
	&nb sp;
	Credit Enhancement Report
ACCOUNTS								TOTAL
	Beginning Spread Account Balance							0.00
	Spread Account Deposits from the Distribution Account							355,320.28
	Spread Account Interest Earnings							0.00
	Deposits to the Distribution Account							0.00 < /TD>
	Spread Account Excess Released to Class R							0.00
	Ending Spread Account Balance							355,320.28
	Beginning Basis Risk Reserve Fund Balance							0.00
	Basis Risk Reserve Fund Deposits from Corridor Contract							0.00
	Required Basis Risk Reserve Fund Deposit							0.00
	Withdrawls to pay Class A Available Funds Cap Carryforward						0.00
	Withdrawls to pay Class R							0.00
	Ending Basis Risk Reserve Fund Balance							0.00
										< /FONT>
INSURANCE								TOTAL
	Insurance Premium							14,923.66
	Other Insurance Amounts Due							0.00
							0.00
	Total Insurance Amounts Due							14,923.66
	Insurance Amounts Paid							14,923.66
	Remaining Unpaid Insurance Amounts							0.00
	Current Insured Amount paid to Distribution Account							0.00
STRUCTURAL FEATURES								TOTAL
SP ACE INTENTIONALLY LEFT BLANK
											&n bsp;
				Page 7 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Collateral Report for June 15, 2004 Distribution
	Collateral Report
		& nbsp;
COLLATERAL								TOTAL
	Loan Count:						&nb sp;
	Original							856
	Prior							-
	Prefunding							-
	Scheduled Paid Offs							-
	Full Voluntary Pre payments							(5)
	Repurchases							-
	Liquidations							-
	Current							851
	Principal Balance:								< FONT SIZE="-1" FACE="Arial">
	Original							75,683,075.80
	Prior							-
	Prefunding							-
	Scheduled Principal						(65,728.59)
	Partial and Full Voluntary Prepayments							(443,204.24)
	Repurchases			< /TD>				-
	Liquidations							-
	Current							75,174,142.97
PREFUNDING								TOTAL
SPACE INTENTIONALLY LEFT BLANK
							&nbs p;
									;
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Collateral Report for June 15, 2004 Distribution
	Collateral Report
CHARACTERISTICS								TOTAL
	Weighted Average Coupon Original							6.980433%
	Weighted Average Coupon Prior
	Weighted Average Coupon Current							6.980433%
	Weighted Average Months to Maturity Original							316
	Weighted Average Months to Maturity Prior							-		&n bsp;
	Weighted Average Months to Maturity Current							316
	Weighted Avg Remaining Amortization Term Original							325
&nb sp;	Weighted Avg Remaining Amortization Term Prior							-
	Weighted Avg Remaining Amortization Term Current							325
	Weighted Average Seasoning Original							2.36
	Weighted Average Seasoning Prior							-
	Weighted Average Seasoning Current							2.36
Note: Original information refers to deal issue.
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Collateral Report for June 15, 2004 Distribution
	Collateral Report
ARM CHARACTERISTICS								TOTAL
	Weighted Average Margin Original							5.054%
	Weighted Average Margin Prior							0.000%
	Weighted Average Margin Current							5.054%
	Weighted Average Max Rate Original							12.221%
	Weighted Average Max Rate Prior							0.000%
	Weighted Average Max Rate Current							12.221%
	Weighted Average Min Rate Original							5.993%
	Weighted Average Min Rate Prior				< FONT SIZE="-1" FACE="Times New Roman">			0.000%
	Weighted Average Min Rate Current							5.993%
	Weighted Average Cap Up Original							0.905%
	Weighted Average Cap Up Prior							0.000%
	Weighted Average Cap Up Current							0.905%
	Weighted Average Cap Down Original							0.905%
	Weighted Average Cap Down Prior							0.000%
	Weighted Average Cap Down Current							0.905%
Note: Original information refers to deal issue.			&nbs p;
SERVICING FEES / ADVANCES								TOTAL
	Current Servicing Fees							31,432.80
	Delinquent Servicing Fees							101.81
	TOTAL SERVICING FEES							31,534.61
	Total Servicing Fees							31,534.61
	Compensating Interest							(28.54)
	Delinquent Servicing Fees							(101.81)
	COLLECTED SERVICING FEES							31,404.26
	Prepayment Interest Shortfall							28.54
	Total Advanced Interest							1,869.77
< FONT SIZE="-1" FACE="Times New Roman">ADDITIONAL COLLATERAL INFORMATION								TOTAL
	Beginning Pool Factor							75.683076%
	Ending Pool Factor							100.000000%
				Page 10 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3										& nbsp;
	Mortgage Pass-Through Certificates
	Series 2004-3
	Delinquency Report for June 15, 2004 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL	< /TD>
DELINQUENT		Balance			111,950.44	-	-	111,950.44
		% Balance			0.15%	0.00%	0.00%	0.15%
		# Loans			1	-	-	1
		% # Loans			0.12%	0.00%	0.00%	0.12%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	111,950.44	-	-	111,950.44
		% Balance		0.00%	0.15%	0.00%	0.00%	0.15%
		# Loans		-	1	-	-	1
		% # Loans		0.00%	0.12%	0.00%	0.00%	0.12%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+										< /FONT>
								6 Months Moving Average
< FONT SIZE="-1" FACE="Arial">1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
						& nbsp;
Note: Dates correspond to distribution dates.
				Page 11 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	REO Report for June 15, 2004 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
		&nbs p;
Total Loan Count = 0				Loan Group 1 = ; REO Book Value = 000.00
Total Original Principal Balance = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00
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
SPACE INTENTIONALLY LEFT BLANK
				Page 12 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Prepayment Report for June 15, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS							TOTAL
	Current
	Number of Paid in Full Loans							5
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							5
	Paid in Full Balance							431,401.11
	Repurchased Loans Balance							-
	Curtailments Amount							11,803.13
	Total Prepayment Amount							443,204.24
	Cumulative
	Number of Paid in Full Loans							5
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							5
	Paid in Full Balance							431,401.11
	Repurchased Loans Balance	< FONT SIZE="-1" FACE="Times New Roman">						-
	Curtailments Amount							11,803.13
	Total Prepayment Amount							443,204.24
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 13 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Prepayment Report for June 15, 2004 Distribution
										&n bsp;
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES								TOTAL
	SMM							0.59%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off							0.59%
					;
	CPR							6.81%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off							6.81%
	PSA							1445.92%
	3 Months Avg PSA Approximation		< /TD>
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation							1445.92%
CPR by Groups					Total CPR
		&n bsp;
PSA by Groups					Total PSA
			Page 14 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3									&nb sp;
	Mortgage Pass-Through Certificates
	Series 2004-3
	Prepayment Report for June 15, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
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/(0.02*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 (WA S)
Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.
									;
				Page 15 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Prepayment Detail Report for June 15, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 5						Loan Group 1 =
Total Original Principal Balance = 432,201.00
Total Prepayment Amount = 431,401.11
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
95193 1			50,001.00	49,705.49	May-13-04	7.250%	RI - 29.07%	Paid Off - 240	Jan-07-04
95272 1			47,200.00	47,133.15	May-21-04	7.750%	IL - 80.00%	Paid Off - 360	Jan-21-04
95544 1			154,000.00	153,831.13	May-27-04	9.000%	PA - 66.96%	Paid Off - 360	Feb-20-04
95602 1			152,000.00	151,825.65	May-05-04	5.250%	RI - 63.87%	Paid Off - 360	Feb-26-04
95872 1			29,000.00	28,905.69	May-24-04	6.650%	PA - 11.15%	Paid Off - 180	Mar-23-04
					Page 16 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Realized Loss Report for June 15, 2004 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES								TOTAL
	Current
	Number of Loans Liquidated							-
	Collateral Realized Loss/(Gain) Amount							-
	Net Liquidation Proceeds							-
	Cumulative
	Number of Loans Liquidated							-
	Collateral Realized Loss/(Gain) Amount							-
	Net Liquidation Proceeds							-
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
							3 Months Moving Average
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 17 of 23
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Realized Loss Report for June 15, 2004 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS								TOTAL
	MDR							0.00%
	3 Months Avg MDR
	12 Months Avg MDR
	Avg MDR Since Cut-off							0.00%	< FONT SIZE="-1" FACE="Arial">
	CDR							0.00%
	3 Months Avg CDR
	12 Months Avg CDR
	Avg CDR Since Cut-off							0.00%
	SDA							0.00%
	3 Months Avg SDA Approximation
	12 Months Avg SDA Approximation									< /TD>
	Avg SDA Since Cut-off Approximation							0.00%
	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
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 18 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Realized Loss Report for June 15, 2004 Distribution
	Realized Loss Report - Collateral
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 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 19 of 23				© COPYRIGHT 2004 Deutsche Bank
	&nb sp;
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certif icates
	Series 2004-3
	Realized Loss Detail Report for June 15, 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 =
Total Prior Principal Balance = 0.00
Total Current Realized Lo ss Amount = 0.00
Total Revisions Amount = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00								< /FONT>
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)
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					Page 20 of 23				© COPYRIGHT 2004 Deutsche Bank
< /TD>	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3								&nbs p;
	Triggers, Adj. Rate Cert. and Miscellaneous Report for June 15, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS								TOTAL
	Has a Servicer Termination Delinquency Event Occured?							No
	Has a Servicer Termination Loss Event Occured?							No
	Has the Optional Termination Date Been Reached?							No
ADJUSTABLE RATE CERTIFICATE INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION								TOTAL
				Page 21 of 23				© COPYRIGHT 2004 Deutsche Bank
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Other Related Information for June 15, 2004 Distribution
	Other Related Information
ADDITIONAL INFORMATION								TOTAL
								;
	% of Excess Spread used in Monthly Excess Spread Amt.							100.0000%
	Excess Spread							355,320.28
	Monthly Excess Spread							355,320.28
							0.00
	Spread Account Excess Allocable to Servicer/Seller Reimbursem ents							0.00
	Spread Account Excess Allocable to Monthly Advances							0.00
	Spread Account Excess Allocable to Class R							0.00
					&nbs p;
				Page 22 of 23				© COPYRIGHT 2004 Deutsche Ba nk
	Lehman Home Equity Loan Trust 2004-3
	Mortgage Pass-Through Certificates
	Series 2004-3
	Additional Certificate Report for June 15, 2004 Distribution
	Additional Certificate Report
SPACE INTENTIONALLY LEFT BLANK
	CLASS								&n bsp;
										& nbsp;
				Page 23 of 23				© COPYRIGHT 2004 Deutsche Bank