-----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, AN+uDgvvlZizb60hdnaghdRosW3ZJ33ZELk7wRJ7Yh+zrwu9X8bhmqRLspclKMQs 42wdHWYc8QFjtzl5yf0HYg== 0001056404-04-004139.txt : 20041202 0001056404-04-004139.hdr.sgml : 20041202 20041202113625 ACCESSION NUMBER: 0001056404-04-004139 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEAR STEARNS ASSET BACKED SECURITIES I TRUST 2004-AC6 CENTRAL INDEX KEY: 0001307525 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-91334-27 FILM NUMBER: 041179472 BUSINESS ADDRESS: STREET 1: 245 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10167 BUSINESS PHONE: 2124724095 MAIL ADDRESS: STREET 1: 245 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10167 8-K 1 bsa04ac6_nov.txt NOVEMBER 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): November 26, 2004 BEAR STEARNS ASSET BACKED SECURITIES I TRUST Asset Backed Certificates, Series 2004-AC6 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-27 54-2162555 Pooling and Servicing Agreement) (Commission 54-2162556 (State or other File Number) 54-2162557 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 November 26, 2004 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES I TRUST, Asset Backed Certificates, Series 2004-AC6 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-AC6 Trust, relating to the November 26, 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 I TRUST Asset Backed Certificates, Series 2004-AC6 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: 11/28/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-AC6 Trust, relating to the November 26, 2004 distribution. EX-99.1
Bear Stearns Asset Backed Securities Mortgage Pass-Through Certificates Record Date: 10/31/04 Distribution Date: 11/26/04 BSA Series: 2004-AC6 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-1 073879LN6 SEN 5.25000% 268,631,182.00 1,175,261.42 3,100,993.33 A-2 073879LP1 SEN 2.35000% 59,695,818.00 116,904.31 689,109.63 A-3 073879LQ9 SEN 5.65000% 0.00 281,067.81 0.00 M-1 073879LR7 MEZ 2.62000% 28,757,000.00 58,600.38 331,961.70 M-2 073879LS5 MEZ 3.15000% 25,861,000.00 63,359.45 298,531.20 M-3 073879LT3 MEZ 3.35000% 8,275,000.00 21,560.97 95,523.98 B-1 073879LU0 SUB 3.70000% 6,621,000.00 19,053.77 76,430.73 B-2 073879LV8 SUB 3.85000% 6,620,000.00 19,823.22 76,419.18 B-3 073879LW6 SUB 5.20000% 6,000,000.00 24,266.67 69,262.10 P 073879LX4 SEN 0.00000% 100.00 0.00 0.00 R-1 073879LZ9 RES 0.00000% 0.00 0.00 0.00 R-2 073879MA3 RES 0.00000% 0.00 0.00 0.00 R-3 073879MB1 RES 0.00000% 0.00 0.00 0.00 C 073879LY2 OC 0.00000% 3,310,164.85 429,957.48 0.00 Totals 413,771,264.85 2,209,855.48 4,738,231.85
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 265,530,188.67 4,276,254.75 0.00 A-2 0.00 59,006,708.37 806,013.94 0.00 A-3 0.00 0.00 281,067.81 0.00 M-1 0.00 28,425,038.30 390,562.08 0.00 M-2 0.00 25,562,468.80 361,890.65 0.00 M-3 0.00 8,179,476.02 117,084.95 0.00 B-1 0.00 6,544,569.27 95,484.50 0.00 B-2 0.00 6,543,580.82 96,242.40 0.00 B-3 0.00 5,930,737.90 93,528.77 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 C 0.00 3,310,170.00 429,957.48 0.00 Totals 0.00 409,033,038.15 6,948,087.33 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-1 268,631,182.00 268,631,182.00 0.00 3,100,993.33 0.00 0.00 A-2 59,695,818.00 59,695,818.00 0.00 689,109.63 0.00 0.00 A-3 0.00 0.00 0.00 0.00 0.00 0.00 M-1 28,757,000.00 28,757,000.00 0.00 331,961.70 0.00 0.00 M-2 25,861,000.00 25,861,000.00 0.00 298,531.20 0.00 0.00 M-3 8,275,000.00 8,275,000.00 0.00 95,523.98 0.00 0.00 B-1 6,621,000.00 6,621,000.00 0.00 76,430.73 0.00 0.00 B-2 6,620,000.00 6,620,000.00 0.00 76,419.18 0.00 0.00 B-3 6,000,000.00 6,000,000.00 0.00 69,262.10 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 C 3,310,164.85 3,310,164.85 0.00 0.00 0.00 0.00 Totals 413,771,264.85 413,771,264.85 0.00 4,738,231.85 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-1 3,100,993.33 265,530,188.67 0.98845632 3,100,993.33 A-2 689,109.63 59,006,708.37 0.98845632 689,109.63 A-3 0.00 0.00 0.00000000 0.00 M-1 331,961.70 28,425,038.30 0.98845632 331,961.70 M-2 298,531.20 25,562,468.80 0.98845632 298,531.20 M-3 95,523.98 8,179,476.02 0.98845632 95,523.98 B-1 76,430.73 6,544,569.27 0.98845632 76,430.73 B-2 76,419.18 6,543,580.82 0.98845632 76,419.18 B-3 69,262.10 5,930,737.90 0.98845632 69,262.10 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 C 0.00 3,310,170.00 1.00000156 0.00 Totals 4,738,231.85 409,033,038.15 0.98854868 4,738,231.85
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 268,631,182.00 1000.00000000 0.00000000 11.54368345 0.00000000 A-2 59,695,818.00 1000.00000000 0.00000000 11.54368351 0.00000000 A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 28,757,000.00 1000.00000000 0.00000000 11.54368328 0.00000000 M-2 25,861,000.00 1000.00000000 0.00000000 11.54368354 0.00000000 M-3 8,275,000.00 1000.00000000 0.00000000 11.54368338 0.00000000 B-1 6,621,000.00 1000.00000000 0.00000000 11.54368373 0.00000000 B-2 6,620,000.00 1000.00000000 0.00000000 11.54368278 0.00000000 B-3 6,000,000.00 1000.00000000 0.00000000 11.54368333 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 3,310,164.85 1000.00000000 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 A-1 0.00000000 11.54368345 988.45631655 0.98845632 11.54368345 A-2 0.00000000 11.54368351 988.45631649 0.98845632 11.54368351 A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 11.54368328 988.45631672 0.98845632 11.54368328 M-2 0.00000000 11.54368354 988.45631646 0.98845632 11.54368354 M-3 0.00000000 11.54368338 988.45631662 0.98845632 11.54368338 B-1 0.00000000 11.54368373 988.45631627 0.98845632 11.54368373 B-2 0.00000000 11.54368278 988.45631722 0.98845632 11.54368278 B-3 0.00000000 11.54368333 988.45631667 0.98845632 11.54368333 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 C 0.00000000 0.00000000 1,000.00155581 1.00000156 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-1 268,631,182.00 5.25000% 268,631,182.00 1,175,261.42 0.00 0.00 A-2 59,695,818.00 2.35000% 59,695,818.00 116,904.31 0.00 0.00 A-3 0.00 5.65000% 59,695,818.00 281,067.81 0.00 0.00 M-1 28,757,000.00 2.62000% 28,757,000.00 58,600.38 0.00 0.00 M-2 25,861,000.00 3.15000% 25,861,000.00 63,359.45 0.00 0.00 M-3 8,275,000.00 3.35000% 8,275,000.00 21,560.97 0.00 0.00 B-1 6,621,000.00 3.70000% 6,621,000.00 19,053.77 0.00 0.00 B-2 6,620,000.00 3.85000% 6,620,000.00 19,823.22 0.00 0.00 B-3 6,000,000.00 5.20000% 6,000,000.00 24,266.67 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 C 3,310,164.85 0.00000% 3,310,164.85 0.00 0.00 0.00 Totals 413,771,264.85 1,779,898.00 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-1 0.00 0.00 1,175,261.42 0.00 265,530,188.67 A-2 0.00 0.00 116,904.31 0.00 59,006,708.37 A-3 0.00 0.00 281,067.81 0.00 59,006,708.37 M-1 0.00 0.00 58,600.38 0.00 28,425,038.30 M-2 0.00 0.00 63,359.45 0.00 25,562,468.80 M-3 0.00 0.00 21,560.97 0.00 8,179,476.02 B-1 0.00 0.00 19,053.77 0.00 6,544,569.27 B-2 0.00 0.00 19,823.22 0.00 6,543,580.82 B-3 0.00 0.00 24,266.67 0.00 5,930,737.90 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 C 0.00 0.00 429,957.48 0.00 3,310,170.00 Totals 0.00 0.00 2,209,855.48 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-1 268,631,182.00 5.25000% 1000.00000000 4.37500000 0.00000000 0.00000000 A-2 59,695,818.00 2.35000% 1000.00000000 1.95833333 0.00000000 0.00000000 A-3 0.00 5.65000% 1000.00000000 4.70833334 0.00000000 0.00000000 M-1 28,757,000.00 2.62000% 1000.00000000 2.03777793 0.00000000 0.00000000 M-2 25,861,000.00 3.15000% 1000.00000000 2.45000000 0.00000000 0.00000000 M-3 8,275,000.00 3.35000% 1000.00000000 2.60555529 0.00000000 0.00000000 B-1 6,621,000.00 3.70000% 1000.00000000 2.87777828 0.00000000 0.00000000 B-2 6,620,000.00 3.85000% 1000.00000000 2.99444411 0.00000000 0.00000000 B-3 6,000,000.00 5.20000% 1000.00000000 4.04444500 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 C 3,310,164.85 0.00000% 1000.00000000 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 A-1 0.00000000 0.00000000 4.37500000 0.00000000 988.45631655 A-2 0.00000000 0.00000000 1.95833333 0.00000000 988.45631649 A-3 0.00000000 0.00000000 4.70833334 0.00000000 988.45631649 M-1 0.00000000 0.00000000 2.03777793 0.00000000 988.45631672 M-2 0.00000000 0.00000000 2.45000000 0.00000000 988.45631646 M-3 0.00000000 0.00000000 2.60555529 0.00000000 988.45631662 B-1 0.00000000 0.00000000 2.87777828 0.00000000 988.45631627 B-2 0.00000000 0.00000000 2.99444411 0.00000000 988.45631722 B-3 0.00000000 0.00000000 4.04444500 0.00000000 988.45631667 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 C 0.00000000 0.00000000 129.89005064 0.00000000 1000.00155581 (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 6,970,297.15 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 66,388.30 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 7,036,685.45 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 88,598.12 Payment of Interest and Principal 6,948,087.33 Total Withdrawals (Pool Distribution Amount) 7,036,685.45 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 86,202.35 Master Servicing Fee 1,724.05 Miscellaneous Fee 671.72 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 88,598.12
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 5,000.00 0.00 0.00 5,000.00 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 36 0 0 0 36 10,931,940.87 0.00 0.00 0.00 10,931,940.87 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 36 0 0 0 36 10,931,940.87 0.00 0.00 0.00 10,931,940.87 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 2.262728% 0.000000% 0.000000% 0.000000% 2.262728% 2.671018% 0.000000% 0.000000% 0.000000% 2.671018% 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 2.262728% 0.000000% 0.000000% 0.000000% 2.262728% 2.671018% 0.000000% 0.000000% 0.000000% 2.671018%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 66,388.30
COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 6.693059% Weighted Average Net Coupon 6.443059% Weighted Average Pass-Through Rate 6.436111% Weighted Average Maturity(Stepdown Calculation ) 335 Beginning Scheduled Collateral Loan Count 1,606 Number Of Loans Paid In Full 15 Ending Scheduled Collateral Loan Count 1,591 Beginning Scheduled Collateral Balance 413,771,264.85 Ending Scheduled Collateral Balance 409,033,038.15 Ending Actual Collateral Balance at 31-Oct-2004 409,280,013.25 Monthly P &I Constant 2,640,230.17 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 332,400.72 Unscheduled Principal 4,405,825.60 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 5.53 Overcollateralized reduction Amount 0.00 Specified O/C Amount 3,310,170.00 Overcollateralized Amount 3,310,270.00 Overcollateralized Deficiency Amount 5.53 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 5.53 Excess Cash Amount 429,963.01
Miscellaneous Reporting Three month rolling delinquency average 0.000000%
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