
C-BASS
MORTGAGE LOAN ASSET-BACKED CERTIFICATES
SERIES 2004-CB4

Payment Statement
Pooling and Servicing Agreement Dated June 1, 2004

Distribution Date:

December 27, 2004

	Original	Beginning			Class Interest		Remaining	Applied	Ending
	Certificate	Certificate	Principal	Interest	Carryover	Total	Int. Carryover	Realized	Certificate
Class	Face Value	Balance	Distribution	Distribution	Shortfall	Distribution	Amount	Loss	Balance
A-1	$165,800,000.00	$116,451,297.80	$12,550,258.21	$235,652.14	$0.00	$12,785,910.35	$0.00	$0.00	$103,901,039.59
A-2	$20,700,000.00	$20,700,000.00	$0.00	$70,794.00	$0.00	$70,794.00	$0.00	$0.00	$20,700,000.00
A-3	$54,600,000.00	$54,600,000.00	$0.00	$210,756.00	$0.00	$210,756.00	$0.00	$0.00	$54,600,000.00
A-4	$32,300,000.00	$32,300,000.00	$0.00	$147,960.92	$0.00	$147,960.92	$0.00	$0.00	$32,300,000.00
A-5	$24,583,000.00	$24,583,000.00	$0.00	$128,651.03	$0.00	$128,651.03	$0.00	$0.00	$24,583,000.00
A-6	$33,100,000.00	$33,100,000.00	$0.00	$148,177.67	$0.00	$148,177.67	$0.00	$0.00	$33,100,000.00
M-1	$17,800,000.00	$17,800,000.00	$0.00	$85,647.67	$0.00	$85,647.67	$0.00	$0.00	$17,800,000.00
M-2	$15,822,000.00	$15,822,000.00	$0.00	$82,630.40	$0.00	$82,630.40	$0.00	$0.00	$15,822,000.00
M-3	$3,956,000.00	$3,956,000.00	$0.00	$20,983.28	$0.00	$20,983.28	$0.00	$0.00	$3,956,000.00
B-1	$3,956,000.00	$3,956,000.00	$0.00	$21,309.65	$0.00	$21,309.65	$0.00	$0.00	$3,956,000.00
B-2	$3,956,000.00	$3,956,000.00	$0.00	$21,962.39	$0.00	$21,962.39	$0.00	$0.00	$3,956,000.00
B-3	$3,956,000.00	$3,956,000.00	$0.00	$22,252.50	$0.00	$22,252.50	$0.00	$0.00	$3,956,000.00
B-4	$3,758,000.00	$3,758,000.00	$0.00	$21,138.75	$0.00	$21,138.75	$0.00	$0.00	$3,758,000.00
N*	$14,600,000.00	$8,746,797.18	$1,040,746.42	$40,089.49	$0.00	$1,080,835.91	$0.00	N/A	$7,706,050.76
X*	N/A	$11,268,285.58	$0.00	$0.00	$0.00	$0.00	$0.00	N/A	$11,268,285.58
Total	$384,287,000.00	$334,938,297.80	$13,591,004.63	$1,258,005.89	$0.00	$14,849,010.52	$0.00	$0.00	$322,388,039.59
	* Notional Balance

AMOUNTS PER $1,000 UNIT
				Class Interest		Remaining	Applied	Ending	Current
		Principal	Interest	Carryover	Total	Int Carryover	Realized	Certificate	Pass Through
Class	Cusip	Distribution	Distribution	Amount	Distribution	Amount	Loss	Balance	Interest Rate
A-1	12489WJK1	$75.69516411	$1.42130362	NA	$77.11646773	$0.00000000	$0.00000000	$626.66489499	2.35000%
A-2	12489WJL9	$0.00000000	$3.42000000	NA	$3.42000000	$0.00000000	$0.00000000	$1,000.00000000	4.10400%
A-3	12489WJM7	$0.00000000	$3.86000000	NA	$3.86000000	$0.00000000	$0.00000000	$1,000.00000000	4.63200%
A-4	12489WJN5	$0.00000000	$4.58083344	NA	$4.58083344	$0.00000000	$0.00000000	$1,000.00000000	5.49700%
A-5	12489WJP0	$0.00000000	$5.23333320	NA	$5.23333320	$0.00000000	$0.00000000	$1,000.00000000	6.28000%
A-6	12489WJQ8	$0.00000000	$4.47666677	NA	$4.47666677	$0.00000000	$0.00000000	$1,000.00000000	5.37200%
M-1	12489WJR6	$0.00000000	$4.81166685	NA	$4.81166685	$0.00000000	$0.00000000	$1,000.00000000	5.77400%
M-2	12489WJS4	$0.00000000	$5.22250032	NA	$5.22250032	$0.00000000	$0.00000000	$1,000.00000000	6.26700%
M-3	12489WJT2	$0.00000000	$5.30416582	NA	$5.30416582	$0.00000000	$0.00000000	$1,000.00000000	6.36500%
B-1	12489WJU9	$0.00000000	$5.38666582	NA	$5.38666582	$0.00000000	$0.00000000	$1,000.00000000	6.46400%
B-2	12489WJV7	$0.00000000	$5.55166582	NA	$5.55166582	$0.00000000	$0.00000000	$1,000.00000000	6.66200%
B-3	12489WJW5	$0.00000000	$5.62500000	NA	$5.62500000	$0.00000000	$0.00000000	$1,000.00000000	6.75000%
B-4	12489WJX3	$0.00000000	$5.62500000	NA	$5.62500000	$0.00000000	$0.00000000	$1,000.00000000	6.75000%
N*	12489WJZ8	$71.28400137	$2.74585548	NA	$74.02985685	$0.00000000	$0.00000000	$527.81169589	5.50000%
X*	12489WJY1	$0.00000000	$0.00000000	NA	$0.00000000	$0.00000000	$0.00000000	$0.00000000	NA

	Please contact the Bondholder Relations Department of U.S. Bank National Association at
	(800) 934-6802 with any questions regarding this statement or your distribution.
	U.S. BANK NATIONAL ASSOCIATION

Page 1


C-BASS
MORTGAGE LOAN ASSET-BACKED CERTIFICATES
SERIES 2004-CB4

Payment Statement
Pooling and Servicing Agreement Dated June 1, 2004

Distribution Date:

December 27, 2004


i)	Distributions to the Holders See Page 1
ii)	Class X Distribution Amount See Page 1

iii)	Overcollateralization Amount (before distributions)	$11,268,285.58
	Overcollateralization Release Amount	$0.00
	Overcollateralization Deficiency	$458.66
	Overcollateralization Target Amount	$11,268,285.58
	Overcollateralization Amount (after distributions)	$11,268,285.58

	Amount of Excess Interest	$866,241.06
	Amount of Excess Cashflow	$866,241.06

Advances

$142,588.79

vi)

Ending Pool Principal Balance

333,656,325.17

vii)	Loan Count	2,844
	Weighted average remaining term of the Mortgage Loans	331
	Weighted average Mortage Rate of the Mortgage Loans	7.71936%

viii) Delinquency And Foreclosure Information:

	All Categories		Bankruptcy		Foreclosure
	Number	Balance	Number	Balance	Number	Balance
Current	2676	$316,104,850.77	0	$0.00	0	$0.00
30 days Delinquent:	102	$9,720,978.89	1	$51,921.49	0	$0.00
60 days delinquent:	29	$3,026,759.01	1	$61,272.61	0	$0.00
90+ days delinquent:	37	$4,803,736.50	2	$128,166.06	13	$2,046,956.69


ix)	Loans that became REO properties (see page 5)
x)	Total Book Value of REO Properties: (see page 5)

xi)	Principal Prepayments made during Due Period	$12,176,925.58
xii)	Current Period Prepayment Penalties	$215,053.51
	Aggregate Prepayment Penalties	$1,062,966.59
	Aggregate Prepayment Penalties allocated to Classes N	$1,062,966.59
	Aggregate Prepayment Penalties allocated to Classes X	$0.00

xiii)	Aggregate Realized Losses incurred during Due Period	$458.66
	Cumulative Realized Losses	$458.66

Page 2


C-BASS
MORTGAGE LOAN ASSET-BACKED CERTIFICATES
SERIES 2004-CB4

Payment Statement
Pooling and Servicing Agreement Dated June 1, 2004

Distribution Date:

December 27, 2004


xiv)	Realized Loss Allocations See Page 1
xv)	Accrued Certificate Interest See Page 1

xvi)	Prepayment Interest Shortfall not covered by the servicer			$0.00
xvii)	Trustee Fees			$2,019.54

xviii)		LIBOR Carryover Amounts
		Current Distribution	Amounts Remaining
	A-1	0.00	0.00

xix)	Overcollateralization Deficiency (after distribution)			$0.00

xx)	Has Trigger Event has occurred?			NO
	Cummulative Realized Loss Percentage			0.0001160%

xxi)	Available Funds	Scheduled Interest Net of Servicing Fees		$2,086,177.00
		Scheduled Principal		$372,873.97
		Unscheduled Principal		$12,176,925.58
		Available Funds		$14,635,976.55

xxii)	Class Interest Rate See Page 1
xxiii)	Liquidation Report See Page 4

xxiv)	Mortgage Loans Purchased by Servicer			$0.00
xxv)	Mortgage Loans Re-Purchased by Servicer in connection with Section 3.16			$0.00

Page 3


C-BASS
MORTGAGE LOAN ASSET-BACKED CERTIFICATES
SERIES 2004-CB4

Payment Statement
Pooling and Servicing Agreement Dated June 1, 2004

Distribution Date:

December 27, 2004

LIQUIDATION REPORT

			Loan Number	Unpaid Principal Balance	Scheduled Principal	Liquidation Proceeds	Loss
			15021439	124478.04	135.48	-458.66	458.66

458.66

Page 4


C-BASS
MORTGAGE LOAN ASSET-BACKED CERTIFICATES
SERIES 2004-CB4

Payment Statement
Pooling and Servicing Agreement Dated June 1, 2004

Distribution Date:

December 27, 2004

REO REPORT

Loan Number

Unpaid Principal Balance

Scheduled Principal

Book Value

Page 5

C-Bass Mtg Ln As Bk Cert Ser 2004-CB4 8-K