8-K 1 d249551.txt FINANCIAL ASSET SECURITIES CORP ================================================================================ 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 16, 2004 FINANCIAL ASSET SECURITIES CORP. ((AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT, DATED AS OF JULY 1, 2004, PROVIDING FOR THE ISSUANCE OF FIRST FRANKLIN MORTGAGE LOAN TRUST 2004-FF5 ASSET-BACKED CERTIFICATES, SERIES 2004-FF5) Financial Asset Securities Corp. -------------------------------- (Exact name of registrant as specified in its charter) -------------------------------------------------------------------------------- Delaware 333-111379 06-1442101 ---------------------------- ----------- ---------------- (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification Number) 600 Steamboat Road Greenwich, Connecticut 06830 ---------------------- ----- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (203) 625-2700 ================================================================================ -2- Item 2. Acquisition or Disposition of Assets ------------------------------------ Description of the Certificates and the Mortgage Pool On July 29, 2004, a single series of certificates, entitled First Franklin Mortgage Loan Trust 2004-FF5, Asset-Backed Certificates, Series 2004-FF5 (the "Certificates"), were issued pursuant to a pooling and servicing agreement, dated as of July 1, 2004 (the "Agreement"), attached hereto as Exhibit 4.1, among Financial Asset Securities Corp. as depositor (the "Depositor"), Saxon Mortgage Services, Inc. as servicer (the "Servicer") and Wells Fargo Bank , N.A. as trustee (the "Trustee"). The Certificates consist of nineteen classes of certificates (collectively, the "Certificates"), designated as the "Class A-1 Certificates", "Class A-2 Certificates", "Class A-3A Certificates", "Class A-3B Certificates", "Class A-3C Certificates", "Class M-1 Certificates", "Class M-2 Certificates", "Class M-3 Certificates", "Class M-4 Certificates", "Class M-5 Certificates", "Class M-6 Certificates", "Class M-7 Certificates", "Class M-8 Certificates", "Class M-9 Certificates", "Class B Certificates", "Class C Certificates", "Class P Certificates", "Class R Certificates" and "Class R-X Certificates". The Certificates evidence in the aggregate the entire beneficial ownership interest in a trust fund (the "Trust Fund"), consisting of a pool of mortgage loans (the "Mortgage Pool'") of conventional, one- to four- family, adjustable rate and fixed rate, first lien mortgage loans having original terms to maturity up to 30 years (the "Mortgage Loans"). The Mortgage Pool consist of Mortgage Loans having an aggregate Stated Principal Balance of $880,000,000.37 and any amounts in the Prefunding Accounts as of July 1, 2004 (the "Cut-off Date"). The Mortgage Loans were purchased pursuant to the Mortgage Loan Purchase Agreement, dated July 27, 2004, between Greenwich Capital Financial Products, Inc. (the "Seller") and the Depositor (the "Purchase Agreement"). The Class A-1 Certificates, Class A-2 Certificates, Class A- 3A Certificates, Class A-3B Certificates, Class A- 3C, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9 Certificates, Class R Certificates, and Class R-X Certificates were sold by the Depositor to Greenwich Capital Markets, Inc. (the "Underwriter"), pursuant to an Underwriting Agreement, dated July 27, 2004 (the "Underwriting Agreement") among the Depositor, the Underwriter and WaMu Capital Corp. -3- The Certificates have the following initial Certificate Balances and Pass-Through Rates:

The Certificates, other than the Class C Certificates, the Class P Certificates, the Class B Certificates, the Class R Certificates, the Class R-X Certificates, and the Mortgage Loans are more particularly described in the Prospectus, dated April 23, 2004 and the Prospectus Supplement, dated July 27, 2004, as previously filed with the Securities and Exchange Commission pursuant to Rule 424(b). The Class C Certificates, the Class P Certificates, the Class R Certificates, the Class R-X Certificates and the Class B Certificates have not been and will not be publicly offered by the Depositor. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Prospectus Supplement. -4- Item 7. Financial Statements and Exhibits --------------------------------- (a) Not applicable (b) Not applicable (c) Exhibits -5- Exhibit No. Description ----------- ----------- 4.1 Pooling and Servicing Agreement, dated as of July 1, 2004, by and among Financial Asset Securities Corp. as Depositor, Saxon Mortgage Services, Inc. as servicer and Wells Fargo Bank, N.A. as Trustee, relating to the Series 2004-FF5 Certificates. SIGNATURES 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 thereunto duly authorized. Dated: August 16, 2004 FINANCIAL ASSET SECURITIES CORP. By: /s/ Frank Skibo ---------------------------- Name: Frank Skibo Title: Senior Vice President

Exhibit 4.1

FIRST FRANKLIN MORTGAGE LOAN TRUST 2004-FF5 8-K