8-K 1 eight-k.txt 8-K 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 - December 27, 2004 ---------------------------------- (Date of Earliest Event Reported) POPULAR ABS, INC. ------------------------------------------------------------------------- (as depositor under a certain Pooling and Servicing Agreement dated as of December 31, 2003, providing for the issuance of Mortgage Pass-Through Certificates, Series 2004-1) (Exact Name of Registrant as specified in its charter) Delaware 333-104580-03 52-2029487 ------------------------ --------------------- ----------------------- (State of Incorporation) (Commission File No.) (IRS Employer I.D. No.) 103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803 ----------------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (302) 478-6160 Item 8.01. Other Events. ------------------------------- Attached hereto as Annex A is a copy of the Statement to Certificateholders sent to Class AF-1, AF-2, AF-3, AF-4, AF-5, AF-6, AV-1, AV-2, M-1, M-2, M-3, M-4, B-1 and B-2 Certificateholders with respect to the December 27, 2004 Distribution Date. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. POPULAR ABS, INC. By: /s/ James H. Jenkins -------------------------------- James H. Jenkins, Executive Vice President and CFO Dated: January 5, 2005 3

Page 1 of 8 ------------------------------------------------------------------------------------------------------------------------------------ EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-1 STATEMENT TO CERTIFICATEHOLDERS ~~SEPTEMBER~~DECEMBER 27, 2004 ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ DISTRIBUTION IN DOLLARS ------------------------------------------------------------------------------------------------------------------------------------ ORIGINAL ~~BEGINNING~~PRIOR ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL ~~LOSSES~~LOSES INTEREST BALANCE ------------------------------------------------------------------------------------------------------------------------------------ AF1 205,000,000.00 ~~136~~88,~~843~~761,~~375~~285.4907 1422,~~566~~580,~~803~~949.5915 ~~221~~178,~~316~~063.7367 1422,~~788~~759,~~120~~012.3282 0.00 0.00 ~~122~~66,~~276~~180,~~571~~335.9092 AF2 91,000,000.00 91,000,000.00 0.00 188,~~070~~064.7320 188,~~070~~064.7320 0.00 0.00 91,000,000.00 AF3 82,000,000.00 82,000,000.00 0.00 208,~~610~~603.4014 208,~~610~~603.4014 0.00 0.00 82,000,000.00 AF4 55,500,000.00 55,500,000.00 0.00 191,~~560~~546.0371 191,~~560~~546.0371 0.00 0.00 55,500,000.00 AF5 30,350,000.00 30,350,000.00 0.00 129,~~191~~186.1263 129,~~191~~186.1263 0.00 0.00 30,350,000.00 AF6 30,000,000.00 30,000,000.00 0.00 105,~~084~~081.9025 105,~~084~~081.9025 0.00 0.00 30,000,000.00 AV1 124,300,000.00 ~~106~~90,~~844~~561,~~944~~992.8012 56,~~599~~180,~~461~~420.7716 ~~187~~193,~~485~~368.8679 56,~~786~~373,~~947~~788.6395 0.00 0.00 ~~101~~84,~~245~~381,~~483~~571.0396 AV2 124,350,000.00 ~~103~~88,~~623~~126,~~703~~871.3251 43,~~328~~716,~~105~~078.2579 ~~181~~188,~~833~~169.3929 43,~~509~~904,~~938~~248.6408 0.00 0.00 9984,~~295~~410,~~598~~792.0772 M1 58,500,000.00 58,500,000.00 0.00 230,~~012~~004.23 230,~~012~~004.23 0.00 0.00 58,500,000.00 M2 49,500,000.00 49,500,000.00 0.00 210,~~913~~905.2794 210,~~913~~905.2794 0.00 0.00 49,500,000.00 M3 13,500,000.00 13,500,000.00 0.00 59,~~152~~150.4337 59,~~152~~150.4337 0.00 0.00 13,500,000.00 M4 13,500,000.00 13,500,000.00 0.00 60,~~839~~837.2817 60,~~839~~837.2817 0.00 0.00 13,500,000.00 B1 11,250,000.00 11,250,000.00 0.00 3236,~~626~~125.6144 3236,~~626~~125.6144 0.00 0.00 11,250,000.00 B2 11,250,000.00 11,250,000.00 0.00 3942,~~842~~903.6187 3942,~~842~~903.6187 0.00 0.00 11,250,000.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ------------------------------------------------------------------------------------------------------------------------------------ TOTALS 900,000,000.00 ~~793~~713,~~662~~800,~~023~~148.6170 2432,~~494~~477,~~370~~448.6110 2,~~046~~022,~~539~~010.5970 2634,~~540~~499,~~910~~458.2080 0.00 0.00 ~~769~~681,~~167~~322,~~653~~700.0060 ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ X 900,000,000.00 ~~813~~741,~~654~~210,~~503~~922.3982 0.00 292,~~808~~834.2708 292,~~808~~834.2708 0.00 0.00 ~~791~~710,~~731~~912,~~672~~314.9247 ------------------------------------------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------------------------------------- ---------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES -------------------------------------------------------------------------------------------------------------- ---------------------- CURRENT BEGINNING ENDING PASS- THRU CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS RATE -------------------------------------------------------------------------------------------------------------- ---------------------- AF1 294751DM1 ~~667~~432.~~52866093~~98187839 71110.~~05757849~~15097146 10.~~07959380~~86860327 72111.~~13717229~~01957473 ~~596~~322.~~47108244~~83090693 AF1 12.~~765000~~330630% AF2 294751DN9 1,000.00000000 0.00000000 2.~~06671132~~06663956 2.~~06671132~~06663956 1,000.00000000 AF2 2.481000% AF3 294751DP4 1,000.00000000 0.00000000 2.~~54402927~~54394073 2.~~54402927~~54394073 1,000.00000000 AF3 3.054000% AF4 294751DQ2 1,000.00000000 0.00000000 3.~~45153207~~45129207 3.~~45153207~~45129207 1,000.00000000 AF4 4.145000% AF5 294751DR0 1,000.00000000 0.00000000 4.~~25670906~~25656112 4.~~25670906~~25656112 1,000.00000000 AF5 5.110000% AF6 294751DS8 1,000.00000000 0.00000000 3.~~50283000~~50270833 3.~~50283000~~50270833 1,000.00000000 AF6 4.205000% AV1 294751DT6 ~~859~~728.~~57316814~~57596235 4549.~~04796275~~72180338 1.~~50833355~~55566203 4651.~~55629630~~27746541 ~~814~~678.~~52520539~~85415897 AV1 12.~~915000~~480630% AV2 294751DU3 ~~833~~708.~~32290567~~70021319 3429.~~80583233~~88402726 1.~~46227093~~51322308 3631.~~26810326~~39725034 ~~798~~678.~~51707334~~81618593 AV2 12.~~915000~~480630% M1 294751DV1 1,000.00000000 0.00000000 3.~~93183299~~93169624 3.~~93183299~~93169624 1,000.00000000 M1 4.720000% M2 294751DW9 1,000.00000000 0.00000000 4.~~26087414~~26072606 4.~~26087414~~26072606 1,000.00000000 M2 5.115000% M3 294751DX7 1,000.00000000 0.00000000 4.~~38166148~~38150889 4.~~38166148~~38150889 1,000.00000000 M3 5.260000% M4 294751DY5 1,000.00000000 0.00000000 4.~~50661333~~50645704 4.~~50661333~~50645704 1,000.00000000 M4 5.410000% B1 294751DZ2 1,000.00000000 0.00000000 23.~~90014311~~21115022 23.~~90014311~~21115022 1,000.00000000 B1 3.~~165000~~730630% B2 294751EA6 1,000.00000000 0.00000000 3.~~54156533~~81367733 3.~~54156533~~81367733 1,000.00000000 B2 34.~~865000~~430630% -------------------------------------------------------------------------------------------------------------- ---------------------- TOTALS ~~881~~793.~~84669290~~11127633 2736.~~21596734~~08605344 2.~~27393288~~24667856 2938.~~48990022~~33273200 ~~854~~757.~~63072556~~02522289 -------------------------------------------------------------------------------------------------------------- ---------------------- -------------------------------------------------------------------------------------------------------------- ---------------------- X N/A ~~904~~823.~~06055932~~56769202 0.00000000 0.~~00312030~~10314898 0.~~00312030~~10314898 ~~879~~789.~~70185880~~90257163 X 0.~~004142~~150296% -------------------------------------------------------------------------------------------------------------- ---------------------- IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: RYAN VAUGHN JPMorgan Chase Bank, N.A. - Structured Finance Services NY 4 NEW YORK PLAZA FLR 6, New York, New York 10004 Tel: (212) 623-4484 / Fax: (212) 623-5930 Email: Ryan.M.Vaughn@JPMorgan.com [Graphic Appears Here] JPMorgan COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. ------------------------------------------------------------------------------------------------------------------------------------

Page 2 of 8 -------------------------------------------------------------------------------- EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-1 DECEMBER 27, 2004 -------------------------------------------------------------------------------- Sec. 4.03(a)(i) Funds Allocable to Certificate Principal Group I Scheduled Principal 595,584.73 Group I Curtailments 42,437.61 Group I Prepayments 20,428,021.16 Group I Repurchases 0.00 Group I Liquidation Proceeds 0.00 Group II-A Scheduled Principal 81,541.43 Group II-A Curtailments 6,187.40 Group II-A Prepayments 5,678,060.69 Group II-A Repurchases 0.00 Group II-A Liquidation Proceeds 0.00 Group II-B Scheduled Principal 82,061.44 Group II-B Curtailments 4,711.76 Group II-B Prepayments 3,380,002.13 Group II-B Repurchases 0.00 Group II-B Liquidation Proceeds 0.00 Extra Principal Distribution Amount 2,178,839.75 Sec. 4.03(a)(ii) Interest Distribution Amounts Interest Distribution - AF-1 178,063.67 Unpaid Interest - AF-1 0.00 Remaining Unpaid Interest - AF-1 0.00 Interest Distribution - AF-2 188,064.20 Unpaid Interest - AF-2 0.00 Remaining Unpaid Interest - AF-2 0.00 Interest Distribution - AF-3 208,603.14 Unpaid Interest - AF-3 0.00 Remaining Unpaid Interest - AF-3 0.00 Interest Distribution - AF-4 191,546.71 Unpaid Interest - AF-4 0.00 Remaining Unpaid Interest - AF-4 0.00 Interest Distribution - AF-5 129,186.63 Unpaid Interest - AF-5 0.00 Remaining Unpaid Interest - AF-5 0.00 Interest Distribution - AF-6 105,081.25 Unpaid Interest - AF-6 0.00 Remaining Unpaid Interest - AF-6 0.00 [Graphic Appears Here] JPMorgan COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. -------------------------------------------------------------------------------- Page 3 of 8 -------------------------------------------------------------------------------- EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-1 DECEMBER 27, 2004 -------------------------------------------------------------------------------- Interest Distribution - AV-1 193,368.79 Unpaid Interest - AV-1 0.00 Remaining Unpaid Interest - AV-1 0.00 Interest Distribution - AV-2 188,169.29 Unpaid Interest - AV-2 0.00 Remaining Unpaid Interest - AV-2 0.00 Interest Distribution - M-1 230,004.23 Unpaid Interest - M-1 0.00 Remaining Unpaid Interest - M-1 0.00 Interest Distribution - M-2 210,905.94 Unpaid Interest - M-2 0.00 Remaining Unpaid Interest - M-2 0.00 Interest Distribution - M-3 59,150.37 Unpaid Interest - M-3 0.00 Remaining Unpaid Interest - M-3 0.00 Interest Distribution - M-4 60,837.17 Unpaid Interest - M-4 0.00 Remaining Unpaid Interest - M-4 0.00 Interest Distribution - B-1 36,125.44 Unpaid Interest - B-1 0.00 Remaining Unpaid Interest - B-1 0.00 Interest Distribution - B-2 42,903.87 Unpaid Interest - B-2 0.00 Remaining Unpaid Interest - B-2 0.00 Interest Reductions Net Prepayment Interest Shortfalls 0.00 Relief Act Reductions 921.69 Class AF-1 Interest Reduction 74.14 Class AF-2 Interest Reduction 78.30 Class AF-3 Interest Reduction 86.86 Class AF-5 Interest Reduction 53.79 Class AF-4 Interest Reduction 159.54 Class AF-6 Interest Reduction 43.75 Class AV-1 Interest Reduction 80.51 Class AV-2 Interest Reduction 78.35 Class M-1 Interest Reduction 95.77 Class M-2 Interest Reduction 87.81 Class M-3 Interest Reduction 24.63 Class M-4 Interest Reduction 25.33 Class B-1 Interest Reduction 15.04 Class B-2 Interest Reduction 17.86 [Graphic Appears Here] JPMorgan COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. --------------------------------------------------------------------------------

Page 4 of 8 --------------------------------------------------------------------------------------------------------~~----~~ EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-1 ~~SEPTEMBER~~DECEMBER 27, 2004 --------------------------------------------------------------------------------------------------------~~----~~ Sec. 4.03(a)(iii) Available Funds Shortfall Class AF-1 Available Funds Shortfall 0.00 Class AF-2 Available Funds Shortfall 0.00 Class AF-3 Available Funds Shortfall 0.00 Class AF-4 Available Funds Shortfall 0.00 Class AF-5 Available Funds Shortfall 0.00 Class AF-6 Available Funds Shortfall 0.00 Class AV-1 Available Funds Shortfall 0.00 Class AV-2 Available Funds Shortfall 0.00 Class M-1 Available Funds Shortfall 0.00 Class M-2 Available Funds Shortfall 0.00 Class M-3 Available Funds Shortfall 0.00 Class M-4 Available Funds Shortfall 0.00 Class B-1 Available Funds Shortfall 0.00 Class B-2 Available Funds Shortfall 0.00 Sec. 4.03(a)(v) Pool Principal Balances Group I Beginning Pool Balance ~~595~~552,~~869~~252,~~098~~348.4560 Group I Ending Pool Balance ~~582~~531,~~831~~186,~~589~~305.9310 Group II-A Beginning Pool Balance ~~110~~95,~~129~~356,~~905~~921.2743 Group II-A Ending Pool Balance ~~105~~89,~~118~~591,~~302~~131.6891 Group II-B Beginning Pool Balance ~~107~~93,~~655~~601,~~499~~652.6779 Group II-B Ending Pool Balance ~~103~~90,~~781~~134,~~780~~877.3146 Total Beginning Pool Balance ~~813~~741,~~654~~210,~~503~~922.3982 Total Ending Pool Balance ~~791~~710,~~731~~912,~~672~~314.9247 Sec. 4.03(a)(vi) Servicing Fee Group I Servicing Fee ~~248~~230,~~278~~105.7915 Group II-A Servicing Fee 4539,~~887~~732.4605 Group II-B Servicing Fee 4439,~~856~~000.4669 Sec. 4.03(a)(viii) Delinquency Advances Group I Delinquency Advances Included in Current Distribution 0.00 Group I Recouped Advances Included in Current Distribution 055,078.0059 Group I Recouped Advances From Liquidations 0.00 Group I Aggregate Amount of Advances Outstanding 079,556.0082 Group II-A Delinquency Advances Included in Current Distribution ~~4,500~~0.6700 Group II-A Recouped Advances Included in Current Distribution 024,990.0042 Group II-A Recouped Advances From Liquidations 0.00 Group II-A Aggregate Amount of Advances Outstanding 49,~~500~~879.6726 Group II-B Delinquency Advances Included in Current Distribution 0.00 Group II-B Recouped Advances Included in Current Distribution 0.00 Group II-B Recouped Advances From Liquidations 0.00 Group II-B Aggregate Amount of Advances Outstanding 0.00 [Graphic Appears Here] JPMorgan COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. ---------------------------------------------------------------------------------------------------------~~---~~

Page 5 of 8 -------------------------------------------------------------------------------- EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-1 DECEMBER 27, 2004 -------------------------------------------------------------------------------- Section 4.03(a)(ix)A Group I,Group II-A, and Group II-B Loans Delinquent ------------------------------------------------------- Group 1 ------------------------------------------------------- Period Number Principal Balance Percentage ------------------------------------------------------- 0-30 days 412 52,088,206.12 9.81% 31-60 days 70 9,775,971.32 1.84% 61-90 days 16 1,885,434.53 0.35% 91+days 22 2,292,575.82 0.43% Total 520 66,042,187.79 12.43% ------------------------------------------------------- Group 2 ------------------------------------------------------- Period Number Principal Balance Percentage ------------------------------------------------------- 0-30 days 58 7,396,735.12 8.26% 31-60 days 13 1,492,419.15 1.67% 61-90 days 9 961,982.42 1.07% 91+days 8 1,105,952.34 1.23% Total 88 10,957,089.03 12.23% ------------------------------------------------------- Group 3 ------------------------------------------------------- Period Number Principal Balance Percentage ------------------------------------------------------- 0-30 days 46 5,711,258.86 6.34% 31-60 days 11 987,946.83 1.10% 61-90 days 4 452,255.07 0.50% 91+days 3 348,264.63 0.39% Total 64 7,499,725.39 8.33% Sec. 4.03(a)(ix)B Group I,Group II-A, and Group II-B Loans in Foreclosure --------------------------------------------------- Group 1 --------------------------------------------------- Number Principal Balance Percentage --------------------------------------------------- 40 4,733,385.48 0.89% --------------------------------------------------- --------------------------------------------------- Group 2 --------------------------------------------------- Number Principal Balance Percentage --------------------------------------------------- 9 1,016,122.28 1.13% --------------------------------------------------- --------------------------------------------------- Group 3 --------------------------------------------------- Number Principal Balance Percentage --------------------------------------------------- 13 1,478,674.24 1.64% --------------------------------------------------- Sec. 4.03(a)(x),(xi) Group I,Group II-A, and Group II-B Loans in REO [Graphic Appears Here] JPMorgan COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. --------------------------------------------------------------------------------

Page 6 of 8 --------------------------------------------------------------------------------------------------------~~----------------------------~~ EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-1 ~~SEPTEMBER~~DECEMBER 27, 2004 -------------------------------------------------------------------------------------------------------- ---------------------------- -----------------------~~------------------------~~ Group 1 --------------------------------------------------- Number Principal Balance Percentage --------------------------------------------------- 01 077,499.0077 0.0001% --------------------------------------------------- --------------------------------------------------- Group 2 --------------------------------------------------- Number Principal Balance Percentage --------------------------------------------------- 01 076,312.0065 0.0009% --------------------------------------------------- --------------------------------------------------- Group 3 --------------------------------------------------- Number Principal Balance Percentage --------------------------------------------------- 0 0.00 0.00% --------------------------------------------------- Market Value of Group I REO Loans 060,000.00 Market Value of Group II-A REO Loans 075,000.00 Market Value of Group II-B REO Loans 0.00 Sec. 4.03(a)(xii) Aggregate Stated Principal Balance of the Three Largest Loans Group I Three Largest Loans 1,~~470~~465,~~514~~215.2662 Group II-A Three Largest Loans ~~972~~969,~~570~~826.1017 Group II-B Three Largest Loans 1,~~398~~395,~~966~~039.0435 Sec. 4.03(a)(xiii) Net WAC Cap Carryover Class AF-1 Net WAC Cap Carryover Amounts Due 0.00 Class AF-1 Net WAC Cap Carryover Amounts Paid 0.00 Class AF-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-1 Net WAC Cap Carryover Amounts Due 0.00 Class AV-1 Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Paid 0.00 Class AV-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Paid 0.00 Class B-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Paid 0.00 Class B-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Sec. 4.03(a)(xiv) Aggregate Principal Balance of Balloon Loans with Original Terms <= 36 Months and 60+ Contractually Past Due Group I Aggregate Principal Balance of Balloon Loans 0.00 Group II-A Aggregate Principal Balance of Balloon Loans 0.00 Group II-B Aggregate Principal Balance of Balloon Loans 0.00 Sec. 4.03 (a)(xv),(xxii) Realized Losses Group I Current Period Realized Losses 0.00 Group I Cumulative Realized Losses 0.00 [Graphic Appears Here] JPMorgan COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. --------------------------------------------------------------------------------------------------------~~----------------------------~~

Page 7 of 8 -------------------------------------------------------------------------------------------------------- EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-1 ~~SEPTEMBER~~DECEMBER 27, 2004 -------------------------------------------------------------------------------------------------------- Group II-A Current Period Realized Losses 0.00 Group II-A Cumulative Realized Losses 0.00 Group II-B Current Period Realized Losses 0.00 Group II-B Cumulative Realized Losses 0.00 Sec. 4.03 (a)(xvi) Reserve Fund Beginning Balance of Reserve Fund 0.00 Funds Withdrawn From Reserve Fund For Distribution 292,~~799~~821.3152 Funds Deposited to Reserve Fund 292,~~799~~821.3152 Ending Balance of Reserve Fund 0.00 Yield Maintenance Payment for Class AF1 0.00 Yield Maintenance Payment for Class AV1 146,~~399~~408.5105 Yield Maintenance Payment for Class AV2 146,~~399~~413.8047 Sec. 4.03 (a)(xvii) Number of Loans Repurchased Group I Number of Loans Repurchased 0.00 Group II-A Number of Loans Repurchased 0.00 Group II-B Number of Loans Repurchased 0.00 [Graphic Appears Here] JPMorgan COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. --------------------------------------------------------------------------------------------------------

Page 8 of 8 ---------------------------------------------------------------------------------------------------------------~~---------------------~~ EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-1 ~~SEPTEMBER~~DECEMBER 27, 2004 ---------------------------------------------------------------------------------------------------------------~~---------------------~~ Sec. 4.03 (a)(xviii) Weighted Average Mortgage Rate of Outstanding Loans (as of first day of related Due Period) Group I Weighted Average Mortgage Rate 7.3736% Group II-A Weighted Average Mortgage Rate 7.2927% Group II-B Weighted Average Mortgage Rate 7.15% Sec. 4.03 (a)(xix) Weighted Average Remaining Term of Outstanding Loans Group I Weighted Average Remaining Term ~~325~~322.00 Group II-A Weighted Average Remaining Term ~~351~~348.00 Group II-B Weighted Average Remaining Term ~~351~~348.00 Sec. 4.03 (a)(xxi),(xxii),(xxiii) Overcollateralization Amounts Overcollateralization Amount 2229,~~564~~589,~~019~~613.9287 Overcollateralization Target Amount 39,150,000.00 Overcollateralization Release Amount 0.00 Overcollateralization Deficiency Amount 169,~~585~~560,~~980~~386.0813 Sec. 4.03 (a)(xxiv) Trigger Events Has a Trigger Event Occurred and is continuing? NO Cumulative Realized Losses as a percentage of the Original Pool Balance 0.00% Senior Enhancement Percentage 1922.8915% Senior Specified Enhancement Percentage 43.70% Sec. 4.03 (a)(xxv) 60+ Day Delinquent Loans 60+ Day Delinquent Loans as a percentage of the current Pool Balance 12.2103% Sec. 4.03 (a)(xxvi) Amount of Funds Collected by Trustee under Yield Maintenance Agreement 292,~~799~~821.3152 Sec. 4.03 (a)(xxvii) Pre-Funded Amount 0.00 [Graphic Appears Here] JPMorgan COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. ---------------------------------------------------------------------------------------------------------------~~---------------------~~

Filing Compare · EQUITY ONE MORTGAGE PASS-THROUGH TRUST 2004-1