-----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, F+ubTL0w9I+feFlEovvqoZdKHsvGfpQZLg+XEiluK2Cxci9JSAga4rh2ZE09b3JK f7ITkwEzgWres1KG3XJCMQ== 0001056404-04-004083.txt : 20041202 0001056404-04-004083.hdr.sgml : 20041202 20041202073725 ACCESSION NUMBER: 0001056404-04-004083 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041126 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041202 DATE AS OF CHANGE: 20041202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: First Franklin Mortgage Loan Trust 2004-FF7 CENTRAL INDEX KEY: 0001301923 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: 333-115858-11 FILM NUMBER: 041178856 BUSINESS ADDRESS: STREET 1: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 BUSINESS PHONE: 2125267000 MAIL ADDRESS: STREET 1: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 8-K 1 ffm04ff7_nov.txt NOVEMBER 8K 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): November 26, 2004 FIRST FRANKLIN MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-FF7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-115858-11 54-6636533 Pooling and Servicing Agreement) (Commission 54-6636534 (State or other File Number) IRS EIN 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 November 26, 2004 a distribution was made to holders of FIRST FRANKLIN MORTGAGE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2004-FF7 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-FF7 Trust, relating to the November 26, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-FF7 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 11/26/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-FF7 Trust, relating to the November 26, 2004 distribution. EX-99.2 Murrayhill Credit Risk Manager Report EX-99.1
First Franklin Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 10/31/2004 Distribution Date: 11/26/2004 FFM Series: 2004-FF7 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 A1 32027NKV2 SEN 2.25250% 795,118,938.36 1,592,004.81 9,223,816.15 A2 32027NKW0 SEN 2.16250% 181,394,567.94 348,680.67 1,968,458.39 A3 32027NKX8 SEN 2.08250% 184,893,713.40 342,258.81 2,904,938.15 A4 32027NKY6 SEN 2.23250% 82,798,000.00 164,308.03 0.00 A5 32027NKZ3 SEN 2.43250% 102,642,000.00 221,934.81 0.00 M1 32027NLA7 MEZ 2.51250% 74,249,000.00 165,822.77 0.00 M2 32027NLB5 MEZ 2.72250% 35,170,000.00 85,111.40 0.00 M3 32027NLC3 MEZ 2.98250% 15,631,000.00 41,439.52 0.00 M4 32027NLD1 MEZ 3.13250% 15,631,000.00 43,523.65 0.00 M5 32027NLE9 MEZ 3.38250% 11,723,000.00 35,247.15 0.00 M6 32027NLF6 MEZ 3.53250% 7,816,000.00 24,542.24 0.00 M7 32027NLG4 MEZ 3.93250% 6,253,000.00 21,857.71 0.00 M8 32027NLH2 MEZ 4.43250% 9,379,000.00 36,953.26 0.00 M9 32027NLJ8 MEZ 4.43250% 7,816,000.00 30,795.04 0.00 B 32027NLK5 SUB 5.00000% 11,723,000.00 48,845.83 0.00 X FFM04FF7C SEN 0.00000% 3,908,227.06 4,483,181.37 0.00 P FFM04FF7P SEN 0.00000% 100.00 201,833.92 0.00 R FFM4FF7R2 RES 0.00000% 0.00 0.00 0.00 Totals 1,546,146,546.76 7,888,340.99 14,097,212.69
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 785,895,122.21 10,815,820.96 0.00 A2 0.00 179,426,109.55 2,317,139.06 0.00 A3 0.00 181,988,775.25 3,247,196.96 0.00 A4 0.00 82,798,000.00 164,308.03 0.00 A5 0.00 102,642,000.00 221,934.81 0.00 M1 0.00 74,249,000.00 165,822.77 0.00 M2 0.00 35,170,000.00 85,111.40 0.00 M3 0.00 15,631,000.00 41,439.52 0.00 M4 0.00 15,631,000.00 43,523.65 0.00 M5 0.00 11,723,000.00 35,247.15 0.00 M6 0.00 7,816,000.00 24,542.24 0.00 M7 0.00 6,253,000.00 21,857.71 0.00 M8 0.00 9,379,000.00 36,953.26 0.00 M9 0.00 7,816,000.00 30,795.04 0.00 B 0.00 11,723,000.00 48,845.83 0.00 X 0.00 3,908,227.06 4,483,181.37 0.00 P 0.00 100.00 201,833.92 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 1,532,049,334.07 21,985,553.68 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) A1 804,107,000.00 795,118,938.36 392,011.79 8,831,804.36 0.00 0.00 A2 184,625,000.00 181,394,567.94 83,659.40 1,884,799.00 0.00 0.00 A3 189,661,000.00 184,893,713.40 123,459.75 2,781,478.40 0.00 0.00 A4 82,798,000.00 82,798,000.00 0.00 0.00 0.00 0.00 A5 102,642,000.00 102,642,000.00 0.00 0.00 0.00 0.00 M1 74,249,000.00 74,249,000.00 0.00 0.00 0.00 0.00 M2 35,170,000.00 35,170,000.00 0.00 0.00 0.00 0.00 M3 15,631,000.00 15,631,000.00 0.00 0.00 0.00 0.00 M4 15,631,000.00 15,631,000.00 0.00 0.00 0.00 0.00 M5 11,723,000.00 11,723,000.00 0.00 0.00 0.00 0.00 M6 7,816,000.00 7,816,000.00 0.00 0.00 0.00 0.00 M7 6,253,000.00 6,253,000.00 0.00 0.00 0.00 0.00 M8 9,379,000.00 9,379,000.00 0.00 0.00 0.00 0.00 M9 7,816,000.00 7,816,000.00 0.00 0.00 0.00 0.00 B 11,723,000.00 11,723,000.00 0.00 0.00 0.00 0.00 X 3,908,227.06 3,908,227.06 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,563,132,327.06 1,546,146,546.76 599,130.94 13,498,081.76 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 A1 9,223,816.15 785,895,122.21 0.97735142 9,223,816.15 A2 1,968,458.39 179,426,109.55 0.97184081 1,968,458.39 A3 2,904,938.15 181,988,775.25 0.95954769 2,904,938.15 A4 0.00 82,798,000.00 1.00000000 0.00 A5 0.00 102,642,000.00 1.00000000 0.00 M1 0.00 74,249,000.00 1.00000000 0.00 M2 0.00 35,170,000.00 1.00000000 0.00 M3 0.00 15,631,000.00 1.00000000 0.00 M4 0.00 15,631,000.00 1.00000000 0.00 M5 0.00 11,723,000.00 1.00000000 0.00 M6 0.00 7,816,000.00 1.00000000 0.00 M7 0.00 6,253,000.00 1.00000000 0.00 M8 0.00 9,379,000.00 1.00000000 0.00 M9 0.00 7,816,000.00 1.00000000 0.00 B 0.00 11,723,000.00 1.00000000 0.00 X 0.00 3,908,227.06 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 14,097,212.69 1,532,049,334.07 0.98011493 14,097,212.69
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 804,107,000.00 988.82230643 0.48751197 10.98336958 0.00000000 A2 184,625,000.00 982.50273766 0.45313148 10.20879621 0.00000000 A3 189,661,000.00 974.86417028 0.65094959 14.66552639 0.00000000 A4 82,798,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A5 102,642,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 74,249,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 35,170,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 15,631,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 15,631,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 11,723,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 7,816,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 6,253,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M8 9,379,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M9 7,816,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 11,723,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 3,908,227.06 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 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 A1 0.00000000 11.47088155 977.35142488 0.97735142 11.47088155 A2 0.00000000 10.66192764 971.84081002 0.97184081 10.66192764 A3 0.00000000 15.31647598 959.54769431 0.95954769 15.31647598 A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A5 0.00000000 0.00000000 1,000.00000000 1.00000000 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 M7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 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 A1 804,107,000.00 2.25250% 795,118,938.36 1,592,004.81 0.00 0.00 A2 184,625,000.00 2.16250% 181,394,567.94 348,680.67 0.00 0.00 A3 189,661,000.00 2.08250% 184,893,713.40 342,258.81 0.00 0.00 A4 82,798,000.00 2.23250% 82,798,000.00 164,308.03 0.00 0.00 A5 102,642,000.00 2.43250% 102,642,000.00 221,934.81 0.00 0.00 M1 74,249,000.00 2.51250% 74,249,000.00 165,822.77 0.00 0.00 M2 35,170,000.00 2.72250% 35,170,000.00 85,111.40 0.00 0.00 M3 15,631,000.00 2.98250% 15,631,000.00 41,439.52 0.00 0.00 M4 15,631,000.00 3.13250% 15,631,000.00 43,523.65 0.00 0.00 M5 11,723,000.00 3.38250% 11,723,000.00 35,247.15 0.00 0.00 M6 7,816,000.00 3.53250% 7,816,000.00 24,542.24 0.00 0.00 M7 6,253,000.00 3.93250% 6,253,000.00 21,857.71 0.00 0.00 M8 9,379,000.00 4.43250% 9,379,000.00 36,953.26 0.00 0.00 M9 7,816,000.00 4.43250% 7,816,000.00 30,795.04 0.00 0.00 B 11,723,000.00 5.00000% 11,723,000.00 48,845.83 0.00 0.00 X 3,908,227.06 0.00000% 3,908,227.06 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,563,132,327.06 3,203,325.70 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 A1 0.00 0.00 1,592,004.81 0.00 785,895,122.21 A2 0.00 0.00 348,680.67 0.00 179,426,109.55 A3 0.00 0.00 342,258.81 0.00 181,988,775.25 A4 0.00 0.00 164,308.03 0.00 82,798,000.00 A5 0.00 0.00 221,934.81 0.00 102,642,000.00 M1 0.00 0.00 165,822.77 0.00 74,249,000.00 M2 0.00 0.00 85,111.40 0.00 35,170,000.00 M3 0.00 0.00 41,439.52 0.00 15,631,000.00 M4 0.00 0.00 43,523.65 0.00 15,631,000.00 M5 0.00 0.00 35,247.15 0.00 11,723,000.00 M6 0.00 0.00 24,542.24 0.00 7,816,000.00 M7 0.00 0.00 21,857.71 0.00 6,253,000.00 M8 0.00 0.00 36,953.26 0.00 9,379,000.00 M9 0.00 0.00 30,795.04 0.00 7,816,000.00 B 0.00 0.00 48,845.83 0.00 11,723,000.00 X 0.00 0.00 4,483,181.37 0.00 3,908,227.06 P 0.00 0.00 201,833.92 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 7,888,340.99 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 A1 804,107,000.00 2.25250% 988.82230643 1.97984200 0.00000000 0.00000000 A2 184,625,000.00 2.16250% 982.50273766 1.88858860 0.00000000 0.00000000 A3 189,661,000.00 2.08250% 974.86417028 1.80458191 0.00000000 0.00000000 A4 82,798,000.00 2.23250% 1000.00000000 1.98444443 0.00000000 0.00000000 A5 102,642,000.00 2.43250% 1000.00000000 2.16222219 0.00000000 0.00000000 M1 74,249,000.00 2.51250% 1000.00000000 2.23333338 0.00000000 0.00000000 M2 35,170,000.00 2.72250% 1000.00000000 2.42000000 0.00000000 0.00000000 M3 15,631,000.00 2.98250% 1000.00000000 2.65111125 0.00000000 0.00000000 M4 15,631,000.00 3.13250% 1000.00000000 2.78444437 0.00000000 0.00000000 M5 11,723,000.00 3.38250% 1000.00000000 3.00666638 0.00000000 0.00000000 M6 7,816,000.00 3.53250% 1000.00000000 3.14000000 0.00000000 0.00000000 M7 6,253,000.00 3.93250% 1000.00000000 3.49555573 0.00000000 0.00000000 M8 9,379,000.00 4.43250% 1000.00000000 3.94000000 0.00000000 0.00000000 M9 7,816,000.00 4.43250% 1000.00000000 3.94000000 0.00000000 0.00000000 B 11,723,000.00 5.00000% 1000.00000000 4.16666638 0.00000000 0.00000000 X 3,908,227.06 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are 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 A1 0.00000000 0.00000000 1.97984200 0.00000000 977.35142488 A2 0.00000000 0.00000000 1.88858860 0.00000000 971.84081002 A3 0.00000000 0.00000000 1.80458191 0.00000000 959.54769431 A4 0.00000000 0.00000000 1.98444443 0.00000000 1000.00000000 A5 0.00000000 0.00000000 2.16222219 0.00000000 1000.00000000 M1 0.00000000 0.00000000 2.23333338 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.42000000 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.65111125 0.00000000 1000.00000000 M4 0.00000000 0.00000000 2.78444437 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.00666638 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.14000000 0.00000000 1000.00000000 M7 0.00000000 0.00000000 3.49555573 0.00000000 1000.00000000 M8 0.00000000 0.00000000 3.94000000 0.00000000 1000.00000000 M9 0.00000000 0.00000000 3.94000000 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.16666638 0.00000000 1000.00000000 X 0.00000000 0.00000000 1147.11384502 0.00000000 1000.00000000 P 0.00000000 0.00000000 2018339.20000000 0.00000000 1000.00000000 R 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 23,100,799.34 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 23,100,799.34 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 1,115,245.66 Payment of Interest and Principal 21,985,553.68 Total Withdrawals (Pool Distribution Amount) 23,100,799.34 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 644,227.73 Credit Risk Manager's Fee 19,326.83 PMI Insurance Premium Fee 450,402.64 Wells Fargo Bank, NA 1,288.46 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 1,115,245.66
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Basis Risk Reserve Fund 1,000.00 566,838.31 566,838.31 1,000.00 Cap Agreement 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 38 0 0 0 38 6,428,334.93 0.00 0.00 0.00 6,428,334.93 60 Days 11 0 0 0 11 2,579,154.83 0.00 0.00 0.00 2,579,154.83 90 Days 8 0 0 0 8 1,075,050.00 0.00 0.00 0.00 1,075,050.00 120 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 57 0 0 0 57 10,082,539.76 0.00 0.00 0.00 10,082,539.76 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 0.535815% 0.000000% 0.000000% 0.000000% 0.535815% 0.419458% 0.000000% 0.000000% 0.000000% 0.419458% 60 Days 0.155104% 0.000000% 0.000000% 0.000000% 0.155104% 0.168294% 0.000000% 0.000000% 0.000000% 0.168294% 90 Days 0.112803% 0.000000% 0.000000% 0.000000% 0.112803% 0.070149% 0.000000% 0.000000% 0.000000% 0.070149% 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 0.803723% 0.000000% 0.000000% 0.000000% 0.803723% 0.657900% 0.000000% 0.000000% 0.000000% 0.657900%
Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(A) 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 1 0 0 0 1 59,805.51 0.00 0.00 0.00 59,805.51 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 1 0 0 0 1 59,805.51 0.00 0.00 0.00 59,805.51 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.148368% 0.000000% 0.000000% 0.000000% 0.148368% 0.065286% 0.000000% 0.000000% 0.000000% 0.065286% 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 0.148368% 0.000000% 0.000000% 0.000000% 0.148368% 0.065286% 0.000000% 0.000000% 0.000000% 0.065286% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(B) 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 31 0 0 0 31 4,357,239.04 0.00 0.00 0.00 4,357,239.04 60 Days 6 0 0 0 6 861,384.31 0.00 0.00 0.00 861,384.31 90 Days 5 0 0 0 5 583,050.00 0.00 0.00 0.00 583,050.00 120 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 42 0 0 0 42 5,801,673.35 0.00 0.00 0.00 5,801,673.35 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.672743% 0.000000% 0.000000% 0.000000% 0.672743% 0.536531% 0.000000% 0.000000% 0.000000% 0.536531% 60 Days 0.130208% 0.000000% 0.000000% 0.000000% 0.130208% 0.106067% 0.000000% 0.000000% 0.000000% 0.106067% 90 Days 0.108507% 0.000000% 0.000000% 0.000000% 0.108507% 0.071794% 0.000000% 0.000000% 0.000000% 0.071794% 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 0.911458% 0.000000% 0.000000% 0.000000% 0.911458% 0.714392% 0.000000% 0.000000% 0.000000% 0.714392% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(A) 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 1 0 0 0 1 226,562.75 0.00 0.00 0.00 226,562.75 60 Days 1 0 0 0 1 103,950.18 0.00 0.00 0.00 103,950.18 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 2 0 0 0 2 330,512.93 0.00 0.00 0.00 330,512.93 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.276243% 0.000000% 0.000000% 0.000000% 0.276243% 0.279414% 0.000000% 0.000000% 0.000000% 0.279414% 60 Days 0.276243% 0.000000% 0.000000% 0.000000% 0.276243% 0.128199% 0.000000% 0.000000% 0.000000% 0.128199% 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 0.552486% 0.000000% 0.000000% 0.000000% 0.552486% 0.407613% 0.000000% 0.000000% 0.000000% 0.407613% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(B) 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 5 0 0 0 5 1,784,727.63 0.00 0.00 0.00 1,784,727.63 60 Days 4 0 0 0 4 1,613,820.34 0.00 0.00 0.00 1,613,820.34 90 Days 3 0 0 0 3 492,000.00 0.00 0.00 0.00 492,000.00 120 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 12 0 0 0 12 3,890,547.97 0.00 0.00 0.00 3,890,547.97 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.345304% 0.000000% 0.000000% 0.000000% 0.345304% 0.325841% 0.000000% 0.000000% 0.000000% 0.325841% 60 Days 0.276243% 0.000000% 0.000000% 0.000000% 0.276243% 0.294638% 0.000000% 0.000000% 0.000000% 0.294638% 90 Days 0.207182% 0.000000% 0.000000% 0.000000% 0.207182% 0.089825% 0.000000% 0.000000% 0.000000% 0.089825% 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 0.828729% 0.000000% 0.000000% 0.000000% 0.828729% 0.710305% 0.000000% 0.000000% 0.000000% 0.710305%
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 6.391307% Weighted Average Net Coupon 5.891307% Weighted Average Pass-Through Rate 5.540739% Weighted Average Maturity(Stepdown Calculation ) 355 Beginning Scheduled Collateral Loan Count 7,150 Number Of Loans Paid In Full 58 Ending Scheduled Collateral Loan Count 7,092 Beginning Scheduled Collateral Balance 1,546,146,546.76 Ending Scheduled Collateral Balance 1,532,049,334.07 Ending Actual Collateral Balance at 31-Oct-2004 1,532,533,165.09 Monthly P &I Constant 8,834,044.82 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 599,130.94 Unscheduled Principal 13,498,081.75
Miscellaneous Reporting Monthly Excess Cashflow 3,916,343.06 Overcollateralization Amount 3,908,327.06 Overcollateralization Deficiency 0.00 Overcollateralization Increase 0.00 Overcollateralization Reduction 0.00 Targeted Overcollateralization Amount 3,908,327.06 Stepdown Date NO Trigger Event NO Cap Payment 566,838.31
Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.017589 6.421158 7.014414 Weighted Average Net Rate 6.517589 5.921158 6.514414 Weighted Average Maturity 354 354 355 Beginning Loan Count 677 4,651 365 Loans Paid In Full 3 43 3 Ending Loan Count 674 4,608 362 Beginning Scheduled Balance 92,030,309.99 820,593,950.92 82,415,566.91 Ending scheduled Balance 91,538,507.28 811,861,937.48 81,028,239.59 Record Date 10/31/2004 10/31/2004 10/31/2004 Principal And Interest Constant 626,355.05 4,694,515.07 552,717.39 Scheduled Principal 88,162.65 303,545.81 70,969.96 Unscheduled Principal 403,640.06 8,428,467.63 1,316,357.36 Scheduled Interest 538,192.40 4,390,969.26 481,747.43 Servicing Fees 38,345.96 341,914.15 34,339.82 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 76.69 683.83 68.68 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 37,551.42 261,161.86 18,646.25 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 462,218.33 3,787,209.42 428,692.68 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 6.026949 5.538246 6.241918
Group Level Collateral Statement Group 2(B) Total Collateral Description Mixed ARM Fixed & Mixed ARM Weighted Average Coupon Rate 6.149092 6.391307 Weighted Average Net Rate 5.649092 5.891307 Weighted Average Maturity 355 355 Beginning Loan Count 1,457 7,150 Loans Paid In Full 9 58 Ending Loan Count 1,448 7,092 Beginning Scheduled Balance 551,106,718.94 1,546,146,546.76 Ending scheduled Balance 547,620,649.72 1,532,049,334.07 Record Date 10/31/2004 10/31/2004 Principal And Interest Constant 2,960,457.31 8,834,044.82 Scheduled Principal 136,452.52 599,130.94 Unscheduled Principal 3,349,616.70 13,498,081.75 Scheduled Interest 2,824,004.79 8,234,913.88 Servicing Fees 229,627.80 644,227.73 Master Servicing Fees 0.00 0.00 Trustee Fee 459.26 1,288.46 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 133,043.11 450,402.64 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 2,460,874.62 7,138,995.05 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 5.358399 5.540739
theMurrayhillcompany FFMLT 2004-FF7 Credit Risk Manager Report October 2004 The information contained in this Report is based upon a specific point in time and reflects performance solely through that point in time. It does not forecast the performance of the portfolio in the future. The information in this Report is not investment advice concerning a particular portfolio or security, and no mention of a particular security in this Report constitutes a recommendation to buy, sell, or hold that or any other security. The Report is based upon information provided to The Murrayhill Company by third parties and therefore The Murrayhill Company cannot, and does not, warrant that the information contained in this Report is accurate or complete. Table of Contents Section One Transaction Summary Section Two Prepayment Premium Analysis Section Three Analytics Section One Transaction Summary FFMLT 2004-FF7 Executive Summary October 2004 Transaction Summary Closing Date: 08/27/2004 Depositor: Structured Asset Securities Corporation Trustee(s): Wells Fargo Bank, N.A. Master Servicer: Aurora Loan Services Master Servicing Servicer(s): Chase Home Finance Mortgage Insurer(s): Mortgage Guaranty Insurance Corporation Delinquency Reporting Method: OTS1 Collateral Summary 9/30/2004 Balance as a 2 Percentage of Closing Date Closing Date As of 9/30/2004 Balance Collateral Balance $1,559,224,000 $1,546,637,771 99.19% Loan Count 7,205 7,150 99.24% 1 OTS Method: A current loan becomes 30 days delinquent if the scheduled payment is not made by the close of business on the corresponding day of the following month. Similarly for 60 days delinquent and the second immediately succeeding month and 90 days delinquent and the third immediately succeeding month. 2 These figures are based upon information provided to Murrayhill by the servicers on a monthly basis. c 2004 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for FFMLT 2004-FF7 Mortgage Data Through: September 30, 2004 Section 1: Prepayment premiums collected by the servicers and remitted to the trustee. This information is reported to Murrayhill by the servicers each month. Trustee Remittance Date Servicer 25-Oct-04 25-Sep-04 Total $104,199 $59,611 Section 2: Prepayment premiums remitted to the P Class by the trustee. This information is taken from the statement to Certificateholders prepared by the trustee. Trustee Remittance Date Class 25-Oct-04 25-Sep-04 P Class $104,199 $59,611 Section 3: Reconciliation of the amounts remitted by the servicers to the trustee, and the amount remitted to the P Class by the trustee. Amount remitted by servicers: $104,199 Amount remitted to the P Class: $104,199 Difference: $0 Aggregate Paid-Off Loans Report for FFMLT 2004-FF7 Mortgage Data Through: September 30, 2004 Trustee Remittance Date 25-Oct-04 25-Sep-04 Loans with Active Prepayment Flags that Remitted Premiums (A) 15 8 Loans without Prepayment Flags that Remitted Premiums 0 0 Total Loans that Remitted Premiums (B) 15 8 Loans with Active Prepayment Flags (C) 15 10 Loans without Prepayment Flags that Remitted Premiums 0 0 Subtotal (D) 15 10 Premiums Remitted with Active Prepayment Flags (A/C) 100.0% 80.0% Total Loans that Remitted Premiums to the Subtotal (B/D) 100.0% 80.0% Total Paid-Off Loans (E) 32 14 Total Loans that Remitted Premiums to the Total Paid-Off Loans (B/E) 46.9% 57.1% Paid-Off Loans Exception Report for FFMLT 2004-FF7 Mortgage Data Through: September 30, 2004 TOTAL Total Paid-Off Loans with Flags 15 Less Exceptions: Loans with Expired Prepayment Clauses (as stated in the Note)* 0 Loans that Liquidated from REO* 0 Loans that Contained a Clause Allowing Prepayment Premiums to be 0 Waived at the Time of Liquidation* Loans with Discrepancies between the Data File and the Note* 0 Defaulted Liquidated Loans that Could Not Have Collected Premiums 0 because of the Acceleration of the Debt* Loans that were Liquidated Through Loss Mitigation Efforts* 0 Total Paid-Off Loans with Active Prepayment Flags (C) 15 Other Exceptions: 0 Paid-Off Loans that Did Not Collect Premiums because of State Statutes Paid-Off Loans with Active Prepayment Flags that Have Not Remitted 0 Premiums * These categories are mutually exclusive. Paid-Off Loans With Prepayment Flags for FFMLT 2004-FF7 Mortgage Data Through: September 30, 2004 % of PPP No PPP PPP Murrayhill Delinquency Origination PPP Expiration Payoff PPP to Payoff Collected, Collected, ID Number String Date Flag Date Balance Remitted Balance w/ Flag No Flag Comments 5493981 C0 3/5/2004 2 3/5/2006 $320,000 $8,800 3% 5496527 C0 4/30/2004 2 4/30/2006 $44,724 $1,342 3% 5494255 C0 5/3/2004 2 5/3/2006 $549,050 $14,824 3% 5494909 C0 5/10/2004 2 5/10/2006 $290,000 $8,108 3% 5496106 C0 5/21/2004 2 5/21/2006 $99,000 $2,772 3% 5498634 0 5/28/2004 2 5/28/2006 $710,596 $15,633 2% 5500576 0 6/2/2004 2 6/2/2006 $70,947 $709 1% 5500643 0 6/1/2004 2 6/1/2006 $267,525 $7,357 3% 5500438 0 6/18/2004 2 6/18/2006 $284,633 $7,827 3% 5496819 0 6/14/2004 2 6/14/2006 $238,897 $6,928 3% 5498881 0 6/22/2004 2 6/22/2006 $220,500 $5,954 3% 5496747 0 6/24/2004 2 6/24/2006 $239,650 $5,871 2% 5496918 0 6/23/2004 2 6/23/2006 $366,400 $10,442 3% 5493833 C0 5/8/2004 3 5/8/2007 $162,510 $3,894 2% 5498356 0 6/17/2004 3 6/17/2007 $135,886 $3,737 3% c 2004 The Murrayhill Company. All Rights Reserved. Section Three Analytics FFMLT 2004-FF7 FICO Distribution by Status Mortgage Data Through: September 30, 2004 FICO Delinquency Percentage 520 Current 0 540 Current 0.015 540 Delinquent 0.03 540 Paid Off 0.036 550 Current 0.03 550 Delinquent 0.03 550 Paid Off 0.055 560 Current 0.042 560 Delinquent 0.242 560 Paid Off 0.018 570 Current 0.055 570 Delinquent 0.212 570 Paid Off 0.073 580 Current 0.04 580 Delinquent 0.061 580 Paid Off 0.073 590 Current 0.023 590 Paid Off 0.018 600 Current 0.034 600 Delinquent 0.03 610 Current 0.053 610 Delinquent 0.03 610 Paid Off 0.018 620 Current 0.064 620 Delinquent 0.061 620 Paid Off 0.018 630 Current 0.073 630 Delinquent 0.061 630 Paid Off 0.091 640 Current 0.073 640 Delinquent 0.061 640 Paid Off 0.036 650 Current 0.069 650 Paid Off 0.055 660 Current 0.065 660 Delinquent 0.061 660 Paid Off 0.091 670 Current 0.056 670 Delinquent 0.03 670 Paid Off 0.109 680 Current 0.05 680 Delinquent 0.03 680 Paid Off 0.036 690 Current 0.045 690 Delinquent 0.03 690 Paid Off 0.073 700 Current 0.042 700 Paid Off 0.018 710 Current 0.036 710 Paid Off 0.018 720 Current 0.028 720 Delinquent 0.03 720 Paid Off 0.036 730 Current 0.026 740 Current 0.022 740 Paid Off 0.018 750 Current 0.017 750 Paid Off 0.036 760 Current 0.012 760 Paid Off 0.018 770 Current 0.011 770 Paid Off 0.036 780 Current 0.008 780 Paid Off 0.018 790 Current 0.006 800 Current 0.004 810 Current 0.001 820 Current 0.001 Status # of Loans Average Std. Deviation Current 7,117 647 58.485 Delinquent 33 599 47.863 Paid Off 55 648 65.26 Total: 7,205 FFMLT 2004-FF7 Balance Distribution by Status Mortgage Data Through: September 30, 2004 Balance Delinquency Percentage 20000 Current 0 30000 Current 0.003 30000 Delinquent 0.03 40000 Delinquent 0.03 40000 Current 0.009 50000 Current 0.016 50000 Delinquent 0.091 60000 Delinquent 0.03 60000 Current 0.019 70000 Current 0.032 80000 Delinquent 0.091 80000 Current 0.037 90000 Current 0.037 90000 Delinquent 0.091 100000 Delinquent 0.121 100000 Current 0.042 110000 Current 0.041 110000 Delinquent 0.03 120000 Delinquent 0.03 120000 Current 0.044 130000 Delinquent 0.152 130000 Current 0.043 140000 Current 0.046 150000 Current 0.038 150000 Delinquent 0.03 160000 Delinquent 0.091 160000 Current 0.042 170000 Current 0.037 180000 Current 0.034 190000 Delinquent 0.03 190000 Current 0.028 200000 Current 0.031 210000 Current 0.03 220000 Current 0.027 230000 Current 0.023 240000 Delinquent 0.03 240000 Current 0.023 250000 Current 0.021 260000 Current 0.021 270000 Current 0.019 280000 Current 0.023 290000 Current 0.014 300000 Current 0.016 310000 Current 0.013 320000 Current 0.013 330000 Current 0.008 340000 Current 0.011 350000 Current 0.01 360000 Current 0.011 370000 Delinquent 0.03 370000 Current 0.009 380000 Current 0.008 390000 Current 0.006 400000 Current 0.009 410000 Current 0.007 420000 Current 0.007 430000 Current 0.005 440000 Current 0.006 450000 Current 0.004 460000 Current 0.005 470000 Current 0.004 480000 Current 0.004 490000 Current 0.002 500000 Current 0.005 500000 Delinquent 0.03 510000 Current 0.002 520000 Current 0.005 530000 Current 0.003 540000 Current 0.004 540000 Delinquent 0.03 550000 Current 0.004 560000 Current 0.004 570000 Current 0.001 580000 Current 0.003 590000 Current 0.003 600000 Current 0.003 610000 Current 0.001 620000 Current 0.003 630000 Current 0.002 640000 Current 0.002 650000 Current 0.003 660000 Current 0.001 670000 Current 0.001 680000 Current 0.001 690000 Current 0.001 700000 Current 0.001 700000 Delinquent 0.03 710000 Current 0.001 720000 Current 0.001 730000 Current 0 740000 Current 0 750000 Current 0.001 760000 Current 0 800000 Current 0 820000 Current 0 830000 Current 0 860000 Current 0 870000 Current 0 880000 Current 0 890000 Current 0 900000 Current 0 920000 Current 0 1000000 Current 0 Status # of Loans Average Std. Deviation Current 7,117 216,580.79 138,164.45 Delinquent 33 158,553.64 151,421.53 Total: 7,150 FFMLT 2004-FF7 Loan-to-Value Distribution by Status Mortgage Data Through: September 30, 2004 LTV Delinquency Percentage 0.1 Current 0 0.2 Current 0.001 0.3 Current 0.003 0.4 Paid Off 0.018 0.4 Current 0.006 0.5 Current 0.014 0.6 Paid Off 0.018 0.6 Current 0.033 0.7 Delinquent 0.121 0.7 Current 0.073 0.7 Paid Off 0.127 0.8 Delinquent 0.364 0.8 Paid Off 0.364 0.8 Current 0.481 0.9 Current 0.263 0.9 Delinquent 0.394 0.9 Paid Off 0.345 1 Current 0.127 1 Delinquent 0.121 1 Paid Off 0.127 Status # of Loans Average Std. Deviation Current 7,117 0.825 0.106 Delinquent 33 0.841 0.086 Paid Off 55 0.828 0.107 Total: 7,205 Purpose FFMLT 2004-FF7 Mortgage Purpose Distribution Mortgage Data Through: September 30, 2004 Origination Statistics Current Loans Delinquent Loans Paid off Loans Number of Loans: 7,205 Number of Loans: 7,117 Number of Loans: 33 Number of Loans: 55 Purpose Number Percentage Purpose Number Percentage Purpose Number Percentage Purpose Number Percentage Cash-out refinance2,711 37.6% Cash-out refinance2,675 37.6% Cash-out refinance16 48.5% Cash-out refinance20 36.4% Purchase 3,969 55.1% Purchase 3,925 55.1% Purchase 14 42.4% Purchase 30 54.5% Rate/term 524 7.3% Rate/term 516 7.3% Rate/term 3 9.1% Rate/term 5 9.1% Home 0 0.0% Home 0 0.0% Home 0 0.0% Home 0 0.0% Other 1 0.0% other 1 0.0% other 0 0.0% Other 0 0.0% Total 7,205 100% Total 7,117 100% Total 33 100% Total 55 100% FFMLT 2004-FF7 Mortgage Type Distribution by Status Mortgage Data Through: September 30, 2004 Mortgage Type Delinquency Percentage Investment Home Current 0.034 Investment Home Delinquent 0.03 Investment Home Paid Off 0.145 Primary Home Current 0.957 Primary Home Delinquent 0.97 Primary Home Paid Off 0.855 Second Home Current 0.009 Mortgage Type Loan Count Total Balance Avg. Balance Std. Deviation ARM 6,162 1,372,064,730.00 222,665.49 139,257.55 Fixed 1,043 174,573,041.00 167,375.88 127,854.84 Total: 7,205 1,546,637,771.00 FFMLT 2004-FF7 Mortgage Term Distribution by Status Mortgage Data Through: September 30, 2004 Mortgage Term Delinquency Percentage 180 Current 0.014 240 Current 0 360 Delinquent 1 360 Paid Off 1 360 Current 0.986 # of Loans Other 120 180 240 360 7,205 0 0 99 1 7105 FFMLT 2004-FF7 Ownership Distribution by Status Mortgage Data Through: September 30, 2004 Ownership Type Delinquency Percentage Investment Home Current 0.034 Investment Home Delinquent 0.03 Investment Home Paid Off 0.145 Primary Home Current 0.957 Primary Home Delinquent 0.97 Primary Home Paid Off 0.855 Second Home Current 0.009 Title # of Loans Investment Home 251 Primary Home 6,893 Second Home 61 Total: 7,205 Delinquent Balance FFMLT 2004-FF7 Delinquent Balance Over Time Mortgage Data Through: September 30, 2004 Total Balance in Status AsOfDate 30 Days 60 Days 90 DaysForeclosure REO 8/31/2004 $1,311,900 $0 $0 - - 9/30/2004 $4,194,820 $383,700 $0 $653,750 - Delinquent Count FFMLT 2004-FF7 Delinquent Count Over Time Mortgage Data Through: September 30, 2004 Total Count in Status AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 8/31/2004 10 0 0 0 0 9/30/2004 25 4 0 4 0 CPR FFMLT 2004-FF7 Conditional Prepayment Rates Mortgage Data Through: September 30, 2004 Date * Distribution Date CPR 3-Month MA 6-Month MA 12-Month MA 30-Sep-04 25-Oct-04 6.85% 31-Aug-04 25-Sep-04 5.04% *Data in table is displayed for only the most recent 18 months. SDA FFMLT 2004-FF7 Historical SDA Performance Mortgage Data Through: September 30, 2004 Weighted Monthly Date Average Age Default Amt Default Rate CDR (F-R) SDA Curve SDA % 30-Sep-04 3.55 $0 0.00% 0.00% 0.07% 0% 31-Aug-04 1.28 $0 0.00% 0.00% 0.03% 0% Averages: 2.41 $0 0.00% 0.00% 0.05% 0% c 2004 The Murrayhill Company. All Rights Reserved
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