8-K 1 efc5-0416_5661583form8k.txt -------------------------------------------------------------------------------- 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 30, 2004 IndyMac MBS, Inc. (as depositor under the Pooling and Servicing Agreement, dated as of November 1, 2004, providing for the issuance of the IndyMac MBS, Inc., IndyMac INDX Mortgage Loan Trust 2004-AR11, Mortgage Pass-Through Certificates, Series 2004-AR11). IndyMac MBS, Inc. ------------------------- (Exact name of registrant as specified in its charter) Delaware 333-119384-04 95-4791925 ---------------------------------- -------------------- ------------------------ (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 155 North Lake Avenue Pasadena, California 91101 -------------------- ---------- (Address of Principal (Zip Code) Executive Offices) Registrant's telephone number, including area code (800) 669-2300 ----- -------- Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any 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(b) under the Exchange Act (17 CFR 240.14a-12(b)) [ ] 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)) Section 8. --------- Item 8.01 Other Events. ---------- ------------ On November 30, 2004, IndyMac MBS, Inc. (the "Company") entered into a Pooling and Servicing Agreement dated as of November 1, 2004 (the "Pooling and Servicing Agreement"), by and among the Company, as depositor, IndyMac Bank, F.S.B. ("IndyMac"), as seller and as master servicer, and Deutsche Bank National Trust Company, as trustee (the "Trustee"), providing for the issuance of the Company's IndyMac INDX Mortgage Loan Trust 2004-AR11, Mortgage Pass-Through Certificates, Series 2004-AR11 (the "Certificates"). The Pooling and Servicing Agreement is annexed hereto as Exhibit 99.1. Section 9. --------- Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits. ---------- ------------------------------------------------------------------ Not applicable. Not applicable. Exhibits: 99.1. Pooling and Servicing Agreement, dated as of November 1, 2004, by and among the Company, IndyMac and the Trustee. 2 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 hereunto duly authorized. INDYMAC MBS, INC. By: /s/ Victor H. Woodworth ------------------------------ Victor H. Woodworth Vice President Dated: February 15, 2005 3 Exhibit Index ------------- Exhibit Page ------- ---- 99.1. Pooling and Servicing Agreement, dated as of November 1, 2004, by and among, the Company, IndyMac and the Trustee 5 4

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): December 27, 2004 (Date of earliest event reported) Indymac MBS Inc (as Depositor under the Pooling and Servicing Agreement, dated as November 1, 2004, providing for the issuance of IndyMac INDX Mortgage Loan Trust 2004-AR11 Mortgage Pass-Through Certificates, Series 2004-AR11) (Exact name of registrant as specified in charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-119384-04 95-4791925 (Commission File Number) (I.R.S. Employer Identification No.) 155 NORTH LAKE AVENUE PASADENA, CALIFORNIA 91101 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (800) 669-2300 (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(b) under the Exchange Act (17 CFR 240.14a-12(b)) [ ] 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 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 9.01 Financial Statements and Exhibits (c) Exhibits: Exhibit No. Description 99.1 Monthly Remittance Statement to the Certificateholders dated as of December 27, 2004. 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, hereunto duly authorized. Deutsche Bank National Trust Company, in its capacity as Trustee under the Pooling and Servicing Agreement on behalf of Indymac MBS Inc, Registrant Date: Dec 28, 2004 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT 99.1 Monthly Remittance Statement to the Certificateholders dated as of December 27, 2004.

IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
				External Parties					Table of Contents
												Page
				Seller
									1. Certificate Payment Report					2
				IndyMac INDX Loan Trust
									2. Collection Account Report					4
									3. Credit Enhancement Report					6
									4. Collateral Report					7
				Certificate Insurer(s)					5. Delinquency Report					10
									6. REO Report					11
									7. Foreclosure Report					12
									8. Prepayment Report					13
									9. Prepayment Detail Report					16
									10. Realized Loss Report					17
									11. Realized Loss Detail Report					20
				Servicer(s)
									12. Triggers and Adj. Cert. Report					21
				IndyMac Bank
									13. Other Related Information					22
				Underwriter(s)
				Bear, Stearns & Co. Inc
									Total Number of Pages					22
				Dates					Contacts
				Cut-Off Date:		November 01, 2004			Brent Hoyler
				Close Date:		November 30, 2004			Administrator
				First Distribution Date:		December 27, 2004			(714) 247-6322
									Brent.Hoyler@db.com
									Address:
									1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:		December 27, 2004
									Factor Information:			(800) 735-7777
				Record Date:		November 30, 2004
									Main Phone Number:			(714) 247-6000
									https://www.tss.db.com/invr
Page 1 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Certificate Payment Report
Current Period Distribution -
					Prior											Current
	Class		Original		Principal					Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance	Interest		Principal		Distribution		Loss		Interest		Balance
					(1)	(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)
1-A	SR	$	178,152,000.00		178,152,000.00	697,670.47		1,226,805.42		1,924,475.89		0.00		0.00		176,925,194.58
1-X	SR	$	0.00		0.00	72,893.86		0.00		72,893.86		0.00		0.00		0.00
2-A	SR	$	126,344,000.00		126,344,000.00	535,367.20		2,433,821.29		2,969,188.49		0.00		0.00		123,910,178.71
2-X	SR	$	0.00		0.00	41,377.66		0.00		41,377.66		0.00		0.00		0.00
A-R	SR/R	$	100.00		100.00	0.43		100.00		100.43		0.00		0.00		0.00
B-1	SUB	$	8,985,000.00		8,985,000.00	39,756.09		1,086.53		40,842.62		0.00		0.00		8,983,913.47
B-2	SUB	$	6,988,000.00		6,988,000.00	30,919.93		845.04		31,764.97		0.00		0.00		6,987,154.96
B-3	SUB	$	4,992,000.00		4,992,000.00	22,088.19		603.67		22,691.86		0.00		0.00		4,991,396.33
B-4	SUB	$	4,160,000.00		4,160,000.00	18,406.83		503.06		18,909.89		0.00		0.00		4,159,496.94
B-5	SUB	$	1,830,000.00		1,830,000.00	8,097.23		221.30		8,318.53		0.00		0.00		1,829,778.70
B-6	SUB	$	1,332,420.18		1,332,420.18	5,895.58		161.09		6,056.67		0.00		0.00		1,332,259.09
P	P	$	100.00		100.00	0.00		0.00		0.00		0.00		0.00		100.00
Total			332,783,620.18		332,783,620.18	1,472,473.47		3,664,147.40		5,136,620.87		0.00		0.00		329,119,472.78
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
								Orig. Principal		Prior							Current
	Period		Period					(with Notional)		Principal						Total	Principal
Class	Starting		Ending		Method	Cusip		Balance		Balance		Interest		Principal		Distribution	Balance
								(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
1-A	11/01/04		11/30/04		A-30/360	45660N6Q3		178,152,000.00		1,000.000000		3.916153		6.886285		10.802438	993.113715
1-X	11/01/04		11/30/04		A-30/360	45660N6R1		178,152,000.00		1,000.000000		0.409167		0.000000		0.409167	993.113715
2-A	11/01/04		11/30/04		A-30/360	45660N6S9		126,344,000.00		1,000.000000		4.237377		19.263450		23.500827	980.736550
2-X	11/01/04		11/30/04		A-30/360	45660N6T7		126,344,000.00		1,000.000000		0.327500		0.000000		0.327500	980.736550
A-R	11/01/04		11/30/04		A-30/360	45660N6Y6		100.00		1,000.000000		4.300000		1,000.000000		1,004.300000	0.000000
B-1	11/01/04		11/30/04		A-30/360	45660N6Z3		8,985,000.00		1,000.000000		4.424718		0.120927		4.545645	999.879073
B-2	11/01/04		11/30/04		A-30/360	45660N7A7		6,988,000.00		1,000.000000		4.424718		0.120927		4.545645	999.879073
B-3	11/01/04		11/30/04		A-30/360	45660N7B5		4,992,000.00		1,000.000000		4.424718		0.120927		4.545645	999.879073
B-4	11/01/04		11/30/04		A-30/360	45660N7C3		4,160,000.00		1,000.000000		4.424719		0.120928		4.545647	999.879072
B-5	11/01/04		11/30/04		A-30/360	45660N7E9		1,830,000.00		1,000.000000		4.424716		0.120929		4.545645	999.879071
B-6	11/01/04		11/30/04		A-30/360	45660N7G4		1,332,420.18		1,000.000000		4.424715		0.120900		4.545616	999.879100
P	11/01/04		11/30/04		A-30/360	IN04AB1P1		100.00		1,000.000000		0.000000		0.000000		0.000000	1,000.000000
Page 2 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Distribution to Date -
																Current
	Original				Unscheduled	Scheduled		Total		Total		Realized		Deferred		Principal
Class	Face Value		Interest		Principal	Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)	(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
1-A	178,152,000.00		697,670.47		1,208,980.16	17,825.26		1,226,805.42		1,924,475.89		0.00		0.00		176,925,194.58
1-X	0.00		72,893.86		0.00	0.00		0.00		72,893.86		0.00		0.00		0.00
2-A	126,344,000.00		535,367.20		2,414,826.41	18,994.88		2,433,821.29		2,969,188.49		0.00		0.00		123,910,178.71
2-X	0.00		41,377.66		0.00	0.00		0.00		41,377.66		0.00		0.00		0.00
A-R	100.00		0.43		98.55	1.45		100.00		100.43		0.00		0.00		0.00
B-1	8,985,000.00		39,756.09		1,086.53	0.00		1,086.53		40,842.62		0.00		0.00		8,983,913.47
B-2	6,988,000.00		30,919.93		845.04	0.00		845.04		31,764.97		0.00		0.00		6,987,154.96
B-3	4,992,000.00		22,088.19		603.67	0.00		603.67		22,691.86		0.00		0.00		4,991,396.33
B-4	4,160,000.00		18,406.83		503.06	0.00		503.06		18,909.89		0.00		0.00		4,159,496.94
B-5	1,830,000.00		8,097.23		221.30	0.00		221.30		8,318.53		0.00		0.00		1,829,778.70
B-6	1,332,420.18		5,895.58		161.09	0.00		161.09		6,056.67		0.00		0.00		1,332,259.09
P	100.00		0.00		0.00	0.00		0.00		0.00		0.00		0.00		100.00
Total	332,783,620.18		1,472,473.47		3,627,325.81	36,821.59		3,664,147.40		5,136,620.87		0.00		0.00		329,119,472.78
Interest Detail -
	Pass		Prior Principal			Non-		Prior		Unscheduled				Paid or		Current
	Through		(with Notional)		Accrued	Supported		Unpaid		Interest		Optimal		Deferred		Unpaid
Class	Rate		Balance		Interest	Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)	(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
1-A	4.69938%		178,152,000.00		697,670.47	0.00		0.00		0.00		697,670.47		697,670.47		0.00
1-X	0.49100%		178,152,000.00		72,893.86	0.00		0.00		0.00		72,893.86		72,893.86		0.00
2-A	5.08485%		126,344,000.00		535,367.20	0.00		0.00		0.00		535,367.20		535,367.20		0.00
2-X	0.39300%		126,344,000.00		41,377.66	0.00		0.00		0.00		41,377.66		41,377.66		0.00
A-R	5.16000%		100.00		0.43	0.00		0.00		0.00		0.43		0.43		0.00
B-1	5.30966%		8,985,000.00		39,756.09	0.00		0.00		0.00		39,756.09		39,756.09		0.00
B-2	5.30966%		6,988,000.00		30,919.93	0.00		0.00		0.00		30,919.93		30,919.93		0.00
B-3	5.30966%		4,992,000.00		22,088.19	0.00		0.00		0.00		22,088.19		22,088.19		0.00
B-4	5.30966%		4,160,000.00		18,406.83	0.00		0.00		0.00		18,406.83		18,406.83		0.00
B-5	5.30966%		1,830,000.00		8,097.23	0.00		0.00		0.00		8,097.23		8,097.23		0.00
B-6	5.30966%		1,332,420.18		5,895.58	0.00		0.00		0.00		5,895.58		5,895.58		0.00
P	0.00000%		100.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00
Total			637,279,620.18		1,472,473.47	0.00		0.00		0.00		1,472,473.47		1,472,473.47		0.00
Page 3 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Collection Account Report
SUMMARY
									Group 2		Group 1		Total
Principal Collections									2,435,585.88		1,228,561.52		3,664,147.40
Principal Withrawals									0.00		0.00		0.00
Principal Other Accounts									0.00		0.00		0.00
TOTAL NET PRINCIPAL									2,435,585.88		1,228,561.52		3,664,147.40
Interest Collections									644,272.32		859,523.85		1,503,796.16
Interest Withdrawals									-0.00		-0.00		-0.00
Interest Other Accounts									0.00		0.00		0.00
Interest Fees									-13,949.02		-17,373.68		-31,322.70
TOTAL NET INTEREST									630,323.30		842,150.17		1,472,473.45
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION									3,065,909.18		2,070,711.69		5,136,620.85
PRINCIPAL - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Principal Received										20,759.47		19,482.81		40,242.28
Curtailments										340,354.41		14,625.71		354,980.12
Prepayments In Full										2,074,472.00		1,194,453.00		3,268,925.00
Repurchased/Substitutions										0.00		0.00		0.00
Liquidations										0.00		0.00		0.00
Insurance Principal										0.00		0.00		0.00
Other Additional Principal										0.00		0.00		0.00
Delinquent Principal										-18,529.99		-15,982.65		-34,512.64
Realized Losses										-0.00		-0.00		-0.00
Advanced Principal										18,529.99		15,982.65		34,512.64
TOTAL PRINCIPAL COLLECTED										2,435,585.88		1,228,561.52		3,664,147.40
PRINCIPAL - WITHDRAWALS
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS
									Group 2		Group 1		Total
TOTAL PRINCIPAL OTHER ACCOUNTS									0.00		0.00		0.00
Page 4 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
INTEREST - COLLECTIONS
									Group 2		Group 1		Total
Scheduled Interest									674,451.72		904,373.81		1,578,825.52
Repurchased/Substitution Interest									0.00		0.00		0.00
Liquidation Interest									0.00		0.00		0.00
Insurance Interest									0.00		0.00		0.00
Other Additional Interest									0.00		0.00		0.00
Prepayment Interest Shortfalls									-200.73		-1,072.35		-1,273.07
Delinquent Interest									-471,905.74		-666,897.22		-1,138,802.96
Compensating Interest									200.73		1,072.35		1,273.07
Civil Relief Act Shortfalls									-0.00		-0.00		-0.00
Interest Advanced									441,726.35		622,047.25		1,063,773.60
TOTAL INTEREST COLLECTED									644,272.32		859,523.85		1,503,796.16
INTEREST - WITHDRAWALS
									Group 2		Group 1		Total
TOTAL INTEREST WITHDRAWALS									0.00		0.00		0.00
INTEREST - OTHER ACCOUNTS
									Group 2		Group 1		Total
Prepayment Charges											0.00		0.00
TOTAL INTEREST OTHER ACCOUNTS									0.00		0.00		0.00
INTEREST - FEES
									Group 2		Group 1		Total
Current Servicing Fees									12,970.95		15,994.54		28,965.49
Trustee Fees									978.07		1,379.14		2,357.22
TOTAL INTEREST FEES									13,949.02		17,373.68		31,322.70
Page 5 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Credit Enhancement Report
ACCOUNTS
SPACE INTENTIONALLY LEFT BLANK
INSURANCE
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES
SPACE INTENTIONALLY LEFT BLANK
Page 6 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Collateral Report
COLLATERAL
										Group 2		Group 1		Total
Loan Count:
Original									446		620		1,066
Prior									446		620		1,066
Prefunding									0		0		0
Scheduled Paid Offs									-0		-0		-0
Full Voluntary Prepayments									-4		-4		-8
Repurchases									-0		-0		-0
Liquidations									-0		-0		-0
Current									442		616		1,058
Principal Balance:
Original									138,081,103.64		194,702,416.54		332,783,520.18
Prior									138,081,103.64		194,702,416.54		332,783,520.18
Prefunding									0.00		0.00		0.00
Scheduled Principal									-20,759.47		-19,482.81		-40,242.28
Partial Prepayments									-340,354.41		-14,625.71		-354,980.12
Full Voluntary Prepayments									-2,074,472.00		-1,194,453.00		-3,268,925.00
Repurchases									-0.00		-0.00		-0.00
Liquidations									-0.00		-0.00		-0.00
Current									135,645,517.76		193,473,855.02		329,119,372.78
PREFUNDING
SPACE INTENTIONALLY LEFT BLANK
Page 7 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Coupon Original									5.86135%		5.57388%		5.69316%
Weighted Average Coupon Prior									5.86135%		5.57388%		5.69316%
Weighted Average Coupon Current									5.86135%		5.57388%		5.69316%
Weighted Average Months to Maturity Original									357		358		358
Weighted Average Months to Maturity Prior									357		358		358
Weighted Average Months to Maturity Current									357		358		358
Weighted Avg Remaining Amortization Term Original									357		358		358
Weighted Avg Remaining Amortization Term Prior									357		358		358
Weighted Avg Remaining Amortization Term Current									357		358		358
Weighted Average Seasoning Original									1.96		1.87		1.91
Weighted Average Seasoning Prior									1.96		1.87		1.91
Weighted Average Seasoning Current									1.96		1.87		1.91
Page 8 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
ARM CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Margin Original									2.74794%		2.75000%		2.74915%
Weighted Average Margin Prior									2.74794%		2.75000%		2.74915%
Weighted Average Margin Current									2.74794%		2.75000%		2.74915%
Weighted Average Max Rate Original									11.86135%		11.57388%		11.69316%
Weighted Average Max Rate Prior									11.86135%		11.57388%		11.69316%
Weighted Average Max Rate Current									11.86135%		11.57388%		11.69316%
Weighted Average Min Rate Original									2.74794%		2.75000%		2.74915%
Weighted Average Min Rate Prior									2.74794%		2.75000%		2.74915%
Weighted Average Min Rate Current									2.74794%		2.75000%		2.74915%
Weighted Average Cap Up Original									1.59056%		1.60466%		1.59881%
Weighted Average Cap Up Prior									1.59056%		1.60466%		1.59881%
Weighted Average Cap Up Current									1.59056%		1.60466%		1.59881%
Weighted Average Cap Down Original									1.59056%		1.60466%		1.59881%
Weighted Average Cap Down Prior									1.59056%		1.60466%		1.59881%
Weighted Average Cap Down Current									1.59056%		1.60466%		1.59881%
SERVICING FEES & ADVANCES
										Group 2		Group 1		Total
Current Servicing Fees									12,970.95		15,994.54		28,965.49
Delinquent Servicing Fees									30,179.40		44,849.96		75,029.36
TOTAL SERVICING FEES									43,150.35		60,844.51		103,994.86
Total Servicing Fees									43,150.35		60,844.51		103,994.86
Compensating Interest									-200.73		-1,072.35		-1,273.07
Delinquent Servicing Fees									-30,179.40		-44,849.96		-75,029.36
COLLECTED SERVICING FEES									0.00		0.00		27,692.42
Total Advanced Interest									441,726.35		622,047.25		1,063,773.60
Total Advanced Principal									18,529.99		15,982.65		34,512.64
Aggregate Advances with respect to this Distribution									0.00		1,098,286.24		1,098,286.24
ADDITIONAL COLLATERAL INFORMATION
									Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)									200.73		1,072.35		1,273.07
Compensating Interest									-200.73		-1,072.35		-1,273.07
Net Prepayment Interest Shortfall (PPIS)									0.00		0.00		0.00
Weighted Average Net Mortgage Rate											5.309662%		5.309662%
Next Weighted Average Net Mortgage Rate											5.305570%		5.305570%
Page 9 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Delinquency Report
	TOTAL
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			3,209,026.00		0.00		0.00		3,209,026.00
			% Balance			0.98%		0.00%		0.00%		0.98%
			# Loans			10		0		0		10
			% # Loans			0.95%		0.00%		0.00%		0.95%
	FORECLOSURE		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00	3,209,026.00		0.00		0.00		3,209,026.00
			% Balance		0.00%	0.98%		0.00%		0.00%		0.98%
			# Loans		0	10		0		0		10
			% # Loans		0.00%	0.95%		0.00%		0.00%		0.95%
Page 10 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
REO Report
Loan Number			Original		Stated			Current		State &
													First
&			Principal		Principal	Paid to		Note		LTV at		Original		Payment
Loan Group			Balance		Balance	Date		Rate		Origination		Term		Date
SPACE INTENTIONALLY LEFT BLANK
TOTAL
Page 11 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Foreclosure Report
Loan Number			Original		Stated			Current		State &
													First
&			Principal		Principal	Paid to		Note		LTV at		Original		Payment
Loan Group			Balance		Balance	Date		Rate		Origination		Term		Date
TOTAL
Page 12 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Prepayment Report
VOLUNTARY PREPAYMENTS
										Group 2		Group 1		Total
Current
Number of Paid in Full Loans									4		4		8
Number of Repurchased Loans									0		0		0
Total Number of Loans Prepaid in Full									4		4		8
Curtailments Amount									340,354.41		14,625.71		354,980.12
Paid in Full Balance									2,074,472.00		1,194,453.00		3,268,925.00
Repurchased Loans Balance									0.00		0.00		0.00
Total Prepayment Amount									2,414,826.41		1,209,078.71		3,623,905.12
Cumulative
Number of Paid in Full Loans									4		4		8
Number of Repurchased Loans									0		0		0
Total Number of Loans Prepaid in Full									4		4		8
Paid in Full Balance									2,074,472.00		1,194,453.00		3,268,925.00
Repurchased Loans Balance									0.00		0.00		0.00
Curtailments Amount									340,354.41		14,625.71		354,980.12
Total Prepayment Amount									2,414,826.41		1,209,078.71		3,623,905.12
Page 13 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
VOLUNTARY PREPAYMENTS RATES
										Group 2		Group 1		Total
SMM									1.75%		0.62%		1.09%
3 Months Avg SMM									1.75%		0.62%		1.09%
12 Months Avg SMM									1.75%		0.62%		1.09%
Avg SMM Since Cut-off									1.75%		0.62%		1.09%
CPR									19.08%		7.20%		12.31%
3 Months Avg CPR									19.08%		7.20%		12.31%
12 Months Avg CPR									19.08%		7.20%		12.31%
Avg CPR Since Cut-off									19.08%		7.20%		12.31%
PSA									4,869.18%		1,923.69%		3,226.54%
3 Months Avg PSA Approximation									4,869.19%		1,923.69%		3,226.54%
12 Months Avg PSA Approximation									4,869.19%		1,923.69%		3,226.54%
Avg PSA Since Cut-off Approximation									4,869.19%		1,923.69%		3,226.54%
Page 14 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
PREPAYMENT CALCULATION METHODOLOGY
	Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal)
	Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
	PSA Standard Prepayment Model: CPR/(0.002*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/(0.002*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 (WAS)
	Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases.
	Dates correspond to distribution dates.
Page 15 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment
Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date
3689763 2			264,689.00		264,689.00		02-Dec-2004		7.375%		NV - 95.00%		Paid Off - 360		10/01/2004
3776060 1			363,653.00		363,653.00		19-Nov-2004		6.750%		NV - 90.00%		Paid Off - 360		09/01/2004
3912670 2			329,090.00		329,090.00		30-Nov-2004		6.000%		CA - 80.00%		Paid Off - 360		11/01/2004
120028666 2			1,000,000.00		1,000,000.00		30-Nov-2004		5.750%		CA - 62.50%		Paid Off - 360		10/01/2004
120198862 2			480,693.00		480,693.00		07-Dec-2004		6.000%		CA - 80.00%		Paid Off - 360		11/01/2004
120216443 1			184,000.00		184,000.00		23-Nov-2004		5.250%		AZ - 80.00%		Paid Off - 360		11/01/2004
120261681 1			206,800.00		206,800.00		30-Nov-2004		6.125%		AZ - 80.00%		Paid Off - 360		10/01/2004
120334184 1			440,000.00		440,000.00		30-Nov-2004		5.875%		CA - 80.00%		Paid Off - 360		11/01/2004
TOTAL			3,268,925.00		3,268,925.00
Page 16 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Realized Loss Report
COLLATERAL REALIZED LOSSES
										Group 2		Group 1		Total
Current
Number of Loans Liquidated									0		0		0
Collateral Principal Realized Loss/(Gain) Amount									0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount									0.00		0.00		0.00
Net Liquidation Proceeds									0.00		0.00		0.00
Cumulative
Number of Loans Liquidated									0		0		0
Collateral Realized Loss/(Gain) Amount									0.00		0.00		0.00
Net Liquidation Proceeds									0.00		0.00		0.00
		Special Hazard Loss Coverage Amt											3,327,835.20		3,327,835.20
		Fraud Loss Coverage Amt											0.00		0.00
		Bankruptcy Loss Coverage Amt											0.00		0.00
		Class B-1 Writedown Amount													0.00
		Class B-2 Writedown Amount													0.00
		Class B-3 Writedown Amount													0.00
		Class B-4 Writedown Amount													0.00
		Class B-5 Writedown Amount													0.00
		Class B-6 Writedown Amount													0.00
Page 17 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
DEFAULT SPEEDS
										Group 2		Group 1		Total
MDR									0.00%		0.00%		0.00%
3 Months Avg MDR									0.00%		0.00%		0.00%
12 Months Avg MDR									0.00%		0.00%		0.00%
Avg MDR Since Cut-off									0.00%		0.00%		0.00%
CDR									0.00%		0.00%		0.00%
3 Months Avg CDR									0.00%		0.00%		0.00%
12 Months Avg CDR									0.00%		0.00%		0.00%
Avg CDR Since Cut-off									0.00%		0.00%		0.00%
SDA									0.00%		0.00%		0.00%
3 Months Avg SDA Approximation									0.00%		0.00%		0.00%
12 Months Avg SDA Approximation									0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation									0.00%		0.00%		0.00%
Loss Severity Approximation for Current Period									0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation									0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation									0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off									0.00%		0.00%		0.00%
Page 18 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
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 CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
	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 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Realized Loss Detail Report
Loan Number			Current		State &			Prior		Realized				Cumulative
&		Loan	Note		LTV at	Original		Principal		Loss/(Gain)		Realized		Realized
Loan Group		Status	Rate		Origination	Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
TOTAL
Page 20 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
									Group 2		Group 1		Total
Has Optional Termination Date Reached (0=No,1=Yes)											0		0
Has Sr. Prepay Stepdown Condition Occurred (0=No,1=Yes)											0		0
Has Sr. Credit Supp. Depletion Date Occured (0=No,1=Yes)											0		0
Has Spl. Haz. Cov. Term. Date Occured (0=No,1=Yes)											0		0
Has Fraud Loss Coverage Term. Date Occured (0=No,1=Yes)											0		0
Has Bankrpt Loss Cov. Term. Date Occured (0=No,1=Yes)											0		0
ADJUSTABLE RATE CERTIFICATE INFORMATION
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Current Senior Percentage											91.499848%		91.499753%
Current Subordinate Percentage											8.500152%		8.500247%
Senior Prepayment Percentage											100.000000%		0.000000%
Subordinate Prepayment Percentage											0.000000%		0.000000%
Next Senior Percentage											91.348524%		91.406158%
Next Subordinate Percentage											8.651476%		8.593842%
Next Senior Prepayment Percentage											100.000000%		0.000000%
Next Subordinate Prepayment Percentage											0.000000%		0.000000%
Page 21 of 22
IndyMac INDX Mortgage Loan Trust 2004-AR11
Mortgage Pass-Through Certificates
2004-AR11
December 27, 2004 Distribution
Other Related Information
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Sched. Payments for 60+Day Delinquent Loans											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior											0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior											0.00		0.00
Page 22 of 22

Filing Compare · INDYMAC INDX MORTGAGE LOAN TRUST 2004-AR11