

                           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):  April 26, 2004


                            GS Mortgage Securities Corp.,
          (as depositor, Chase Manhattan Mortgage Corporation, as Servicer,
            NC Capital Corporation, as Servicer and Responsible Party,
               and Deutsche Bank National Trust Company, as Trustee).

                   GS MORTGAGE SECURITIES CORP GSAA TRUST 2004-NC1
            (Exact name of Registrant as specified in its Charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-100818-24                          13-6357101
          (Commission File Number)        (I.R.S. Employer Identification No.)


               85 Broad Street
               New York, New York                        1004
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (203) 625-2700


     Item 5.  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 7.  Financial Statement and Exhibits

     Exhibits:  (as noted in Item 5 above)

     Monthly Remittance Statement to the Certificateholders dated as of
     April 26, 2004.




                                     SIGNATURE


               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,
                                  not in its individual capacity, but solely
                                  as a duly authorized agent of the Registrant
                                  pursuant to the Pooling and Servicing
                                  Agreement, dated as of February 1,2003.


          Date:  Apr 26, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of April 26, 2004.


	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates


	April 26, 2004 Distribution


	Contents



			TABLE OF CONTENTS

								Page

			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				14
			8.	Prepayment Report				15
			9.	Prepayment Detail Report				18
			10.	Realized Loss Report				19
			11.	Realized Loss Detail Report				22
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				23
			13.	Other Related Information				24




				Total Number of Pages				24



			CONTACTS

				Administrator: Valerie Delgado
				Direct Phone Number: (714)247-6273
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705

				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000



ISSUANCE INFORMATION

	Seller:		Goldman, Sachs & Co.					Cut-Off Date: February 1, 2004
	Certificate Insurer(s):							Closing Date: February 26, 2004
								First Payment Date: March 25, 2004
	Servicer(s):		Chase Manhattan Mortgage Master Servicer
			Impac Funding Corp. Sub-Servicer
			Countrywide Funding Corporation
								Distribution Date: April 26, 2004
	Underwriter(s):		Goldman, Sachs & Co. Underwriter					Record Date: April 23, 2004
			Goldman, Sachs & Co.






						Page 1 of 24					© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Certificate Payment Report for April 26, 2004 Distribution


	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)

AV-1	FLT, STEP,	48,506,000.00			47,786,726.97	53,521.13	1,800,375.77	1,853,896.90	-	-	45,986,351.20
AF-2	FLT, STEP,	17,874,000.00			17,874,000.00	42,703.97	-	42,703.97	-	-	17,874,000.00
AF-3	FLT, STEP,	34,264,000.00			34,264,000.00	100,479.18	-	100,479.18	-	-	34,264,000.00
AF-4	FLT, STEP,	20,851,000.00			20,851,000.00	84,116.41	-	84,116.41	-	-	20,851,000.00
AF-5	FLT, STEP,	23,009,000.00			23,009,000.00	109,101.01	-	109,101.01	-	-	23,009,000.00
AF-6	FLT, STEP,	16,056,000.00			16,056,000.00	63,715.56	-	63,715.56	-	-	16,056,000.00
AV-2A	FLT, STEP,	71,370,000.00			70,655,109.91	81,017.86	1,163,732.66	1,244,750.52	-	-	69,491,377.25
AV-2B	FLT, STEP,	17,835,000.00			17,835,000.00	24,414.13	-	24,414.13	-	-	17,835,000.00
1-M-1	MEZ, STEP,	11,584,000.00			11,584,000.00	50,120.11	-	50,120.11	-	-	11,584,000.00
1-M-2	MEZ, STEP,	10,860,000.00			10,860,000.00	49,648.30	-	49,648.30	-	-	10,860,000.00
B-1	SUB, STEP,	7,963,000.00			7,963,000.00	40,345.87	-	40,345.87	-	-	7,963,000.00
B-2	SUB, STEP,	2,896,000.00			2,896,000.00	14,673.07	-	14,673.07	-	-	2,896,000.00
X	OC	6,516,472.06			6,515,650.62	754,892.02	-	754,892.02	-	-	6,515,650.62
P	MEZ, STEP,	-			-	37,666.61	-	37,666.61	-	-	-
R	R	-			-	-	-	-	-	-	-


Total		289,584,472.06			288,149,487.50	1,506,415.23	2,964,108.43	4,470,523.66	-	-	285,185,379.07


	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)	(2)	(3)	(4)=(2)+(3)	(5)

AV-1	03/25/04	04/25/04		A-Act/360	36228FB62	48,506,000.00	985.171463	1.103392	37.116558	38.219950	948.054905
AF-2				F-30/360	36228FB70	17,874,000.00	1,000.000000	2.389167	-	2.389167	1,000.000000
AF-3				F-30/360	36228FB88	34,264,000.00	1,000.000000	2.932500	-	2.932500	1,000.000000
AF-4				F-30/360	36228FB96	20,851,000.00	1,000.000000	4.034167	-	4.034167	1,000.000000
AF-5				F-30/360	36228FC20	23,009,000.00	1,000.000000	4.741667	-	4.741667	1,000.000000
AF-6				F-30/360	36228FC38	16,056,000.00	1,000.000000	3.968333	-	3.968333	1,000.000000
AV-2A	03/25/04	04/25/04		F-30/360	36228FC46	71,370,000.00	989.983325	1.135181	16.305628	17.440809	973.677697
AV-2B	03/25/04	04/25/04		A-Act/360	36228FC95	17,835,000.00	1,000.000000	1.368889	-	1.368889	1,000.000000
1-M-1				A-Act/360	36228FC53	11,584,000.00	1,000.000000	4.326667	-	4.326667	1,000.000000
1-M-2				F-30/360	36228FC61	10,860,000.00	1,000.000000	4.571667	-	4.571667	1,000.000000
B-1				F-30/360	36228FC79	7,963,000.00	1,000.000000	5.066667	-	5.066667	1,000.000000
B-2				F-30/360	36228FC87	2,896,000.00	1,000.000000	5.066668	-	5.066668	1,000.000000
X				F-30/360	36228FK96	296,100,944.12	995.150958	2.549441	-	2.549441	985.140492
P				F-30/360	36228FL20	-	-	-	-	-	-
R				F-30/360	36228FL38	-	-	-	-	-	-


							Page 2 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Certificate Payment Report for April 26, 2004 Distribution


	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)

AV-1	48,506,000.00		101,057.01		2,226,191.36	293,457.44	2,519,648.80	2,620,705.81	-	-	45,986,351.20
AF-2	17,874,000.00		85,407.94		-	-	-	85,407.94	-	-	17,874,000.00
AF-3	34,264,000.00		200,958.36		-	-	-	200,958.36	-	-	34,264,000.00
AF-4	20,851,000.00		168,232.82		-	-	-	168,232.82	-	-	20,851,000.00
AF-5	23,009,000.00		218,202.02		-	-	-	218,202.02	-	-	23,009,000.00
AF-6	16,056,000.00		127,431.12		-	-	-	127,431.12	-	-	16,056,000.00
AV-2A	71,370,000.00		152,625.76		1,642,763.64	235,859.10	1,878,622.74	2,031,248.50	-	-	69,491,377.25
AV-2B	17,835,000.00		45,776.50		-	-	-	45,776.50	-	-	17,835,000.00
1-M-1	11,584,000.00		100,240.22		(264,399.21)	264,399.21	-	100,240.22	-	-	11,584,000.00
1-M-2	10,860,000.00		99,296.60		-	-	-	99,296.60	-	-	10,860,000.00
B-1	7,963,000.00		80,691.74		-	-	-	80,691.74	-	-	7,963,000.00
B-2	2,896,000.00		29,346.14		-	-	-	29,346.14	-	-	2,896,000.00
X	6,516,472.06		1,537,086.85		821.42	-	821.42	1,537,908.27	-	-	6,515,650.62
P	-		58,077.20		-	-	-	58,077.20	-	-	-
R	-		-		-	-	-	-	-	-	-


Total	289,584,472.06		3,004,430.28		3,605,377.21	793,715.75	4,399,092.96	7,403,523.24	-	-	285,185,379.07


	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	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)

AV-1	1.26000%	47,786,726.97			53,521.13	-	-	-	53,521.13	53,521.13	-
AF-2	2.86700%	17,874,000.00			42,703.97	-	-	-	42,703.97	42,703.97	-
AF-3	3.51900%	34,264,000.00			100,479.18	-	-	-	100,479.18	100,479.18	-
AF-4	4.84100%	20,851,000.00			84,116.41	-	-	-	84,116.41	84,116.41	-
AF-5	5.69000%	23,009,000.00			109,101.01	-	-	-	109,101.01	109,101.01	-
AF-6	4.76200%	16,056,000.00			63,715.56	-	-	-	63,715.56	63,715.56	-
AV-2A	1.29000%	70,655,109.91			81,017.86	-	-	-	81,017.86	81,017.86	-
AV-2B	1.54000%	17,835,000.00			24,414.13	-	-	-	24,414.13	24,414.13	-
1-M-1	5.19200%	11,584,000.00			50,120.11	-	-	-	50,120.11	50,120.11	-
1-M-2	5.48600%	10,860,000.00			49,648.30	-	-	-	49,648.30	49,648.30	-
B-1	6.08000%	7,963,000.00			40,345.87	-	-	-	40,345.87	40,345.87	-
B-2	6.08000%	2,896,000.00			14,673.07	-	-	-	14,673.07	14,673.07	-
X	3.14375%	294,665,138.13			754,892.03	-	-	-	754,892.04	754,892.02	0.01
P		-			37,666.61	-	-	-	-	37,666.61	-
R		-			-	-	-	-	-	-	-


Total		576,298,975.01			1,506,415.24	-	-	-	1,468,748.64	1,506,415.23	0.01


							Page 3 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Collection Account Report for April 26, 2004 Distribution


	Collection Account Report


SUMMARY						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Principal Collections					1,163,732.66	1,800,375.78	2,964,108.44
	Principal Withdrawls					0.00	0.00	0.00
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					1,163,732.66	1,800,375.78	2,964,108.44

	Interest Collections					526,926.02	971,560.71	1,498,486.73
	Interest Withdrawals					0.00	0.00	0.00
	Interest Fees					(9,547.55)	(20,190.57)	(29,738.12)
	Interest Other Accounts					0.00	37,666.61	37,666.61
	TOTAL NET INTEREST					517,378.47	989,036.75	1,506,415.22

	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION					1,681,111.13	2,789,412.53	4,470,523.66


PRINCIPAL - COLLECTIONS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Scheduled Principal Received					55,287.06	209,112.15	264,399.21
	Curtailments					11,837.33	26,825.35	38,662.68
	Prepayments in Full					1,096,608.27	1,564,438.28	2,661,046.55
	Repurchased Principal Amounts					0.00	0.00	0.00
	Liquidations					0.00	0.00	0.00
	Insurance Principal					0.00	0.00	0.00
	Other Principal					0.00	0.00	0.00
	Current Realized Loss of Principal					0.00	0.00	0.00
	Supplemental Realized Loss\Gain of Principal					0.00	0.00	0.00
	Subtitution Shortfall Principal					0.00	0.00	0.00
	Loan Adjustment Principal					0.00	0.00	0.00
	Delinquent Principal					(46,549.81)	(156,071.95)	(202,621.76)
	Advanced Principal					46,549.81	156,071.95	202,621.76

	TOTAL PRINCIPAL COLLECTED					1,163,732.66	1,800,375.78	2,964,108.44


				Page 4 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Collection Account Report for April 26, 2004 Distribution


	Collection Account Report


PRINCIPAL - WITHDRAWALS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK


PRINCIPAL - OTHER ACCOUNTS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - COLLECTIONS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Scheduled Interest					560,945.34	1,030,026.69	1,590,972.03
	Repurchased Interest					0.00	0.00	0.00
	Liquidation Interest					0.00	0.00	0.00
	Insurance Interest					0.00	0.00	0.00
	Other Interest					0.00	0.00	0.00
	Prepayment Interest Shortfalls					(1,033.36)	(1,952.58)	(2,985.94)
	Realized Losses of Interest					0.00	0.00	0.00
	Compensating Interest					1,033.36	1,952.58	2,985.94
	Relief Act Interest Shortfalls					0.00	0.00	0.00
	Substitution Shortfall Interest					0.00	0.00	0.00
	Loan Adjustment Interest					0.00	0.00	0.00
	Delinquent Interest					(453,265.59)	(791,261.09)	(1,244,526.68)
	Interest Advanced					419,246.27	732,795.11	1,152,041.38

	TOTAL INTEREST COLLECTED					526,926.02	971,560.71	1,498,486.73


				Page 5 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Collection Account Report for April 26, 2004 Distribution


	Collection Account Report


INTEREST - WITHDRAWALS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Trust Fund Expenses					0.00	0.00	0.00
	Non Recoverable Advances					0.00	0.00	0.00
	Reimbursements to Master Servicer					0.00	0.00	0.00

	TOTAL INTEREST WITHDRAWALS					0.00	0.00	0.00


INTEREST - OTHER ACCOUNTS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Prepayment Charges					0.00	37,666.61	37,666.61
	Interest Cap Payments					0.00	0.00	0.00

	TOTAL INTEREST OTHER ACCOUNTS					0.00	37,666.61	37,666.61


INTEREST - FEES						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Current Servicing Fees					8,777.21	18,799.79	27,577.00
	Trustee Fee					770.34	1,390.78	2,161.12

	TOTAL INTEREST OTHER FEES					9,547.55	20,190.57	29,738.12


				Page 6 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Credit Enhancement Report for April 26, 2004 Distribution


	Credit Enhancement Report


ACCOUNTS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Beginning Excess Reserve Fund Account Balance							0.00
	Basis Risk Carryover Deposit							0.00
	Interest Cap Payment Deposit							0.00
	Basis Risk Carryover Amount Paid							0.00
	Interest Cap Pmt Amount Released to Class X Interest							0.00
	Ending Excess Reserve Fund Account Balance							0.00


INSURANCE						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK


STRUCTURAL FEATURES						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Overcollateralized Amount							6,515,650.62

	Specified Overcollateralized Amount							6,515,650.62


				Page 7 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Collateral Report for April 26, 2004 Distribution


	Collateral Report


COLLATERAL						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Loan Count:
	*Original*					433	1075	1508
	Prior					430	1,071	1,501
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(4)	(9)	(13)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					426	1,062	1,488

	*Principal Balance:*
	Original					103,426,961.50	186,157,510.56	289,584,472.06
	Prior					102,711,661.95	185,437,825.56	288,149,487.51
	Prefunding					-	-	-
	Scheduled Principal					(55,287.06)	(209,112.15)	(264,399.21)
	Partial and Full Voluntary Prepayments					(1,108,445.60)	(1,591,263.63)	(2,699,709.23)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					101,547,929.29	183,637,449.78	285,185,379.07

PREFUNDING						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK


	Group 1 - Adj
	Group 2 - Adj
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)


				Page 8 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Collateral Report for April 26, 2004 Distribution


	Collateral Report


CHARACTERISTICS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Weighted Average Coupon Original					6.556575%	6.673903%	6.631999%
	Weighted Average Coupon Prior					6.556575%	6.673903%	6.631999%
	Weighted Average Coupon Current					6.553632%	6.665480%	6.625611%
	Weighted Average Months to Maturity Original					337	337	337
	Weighted Average Months to Maturity Prior					337	337	337
	Weighted Average Months to Maturity Current					336	336	336
	Weighted Avg Remaining Amortization Term Original					336	336	336
	Weighted Avg Remaining Amortization Term Prior					336	336	336
	Weighted Avg Remaining Amortization Term Current					335	335	335
	Weighted Average Seasoning Original					5.11	5.15	5.14
	Weighted Average Seasoning Prior					5.11	5.15	5.14
	Weighted Average Seasoning Current					6.11	6.15	6.14

Note: Original information refers to deal issue.


	Group 1 - Adj
	Group 2 - Adj
WAC by Groups					Total WAC


WARAT by Groups					Total WARAT


Note: Dates correspond to distribution dates.
				Page 9 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Collateral Report for April 26, 2004 Distribution


	Collateral Report


ARM CHARACTERISTICS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Weighted Average Margin Original					5.038%
	Weighted Average Margin Prior					5.038%
	Weighted Average Margin Current					5.034%
	Weighted Average Max Rate Original					15.110%
	Weighted Average Max Rate Prior					15.110%
	Weighted Average Max Rate Current					15.113%
	Weighted Average Min Rate Original					6.556%
	Weighted Average Min Rate Prior					6.556%
	Weighted Average Min Rate Current					6.549%
	Weighted Average Cap Up Original					1.966%
	Weighted Average Cap Up Prior					1.966%
	Weighted Average Cap Up Current					1.969%
	Weighted Average Cap Down Original					1.966%
	Weighted Average Cap Down Prior					1.966%
	Weighted Average Cap Down Current					1.969%

Note: Original information refers to deal issue.

SERVICING FEES / ADVANCES						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Current Servicing Fees					8,777.21	18,799.79	27,577.00
	Delinquent Servicing Fees					34,019.32	58,465.97	92,485.29
	TOTAL SERVICING FEES					42,796.53	77,265.76	120,062.29

	Prepayment Interest Shortfall					1,033.36	1,952.58	2,985.94
	Compensating Interest					(1,033.36)	(1,952.58)	(2,985.94)
	Delinquent Servicing Fees					(34,019.32)	(58,465.97)	(92,485.29)
	COLLECTED SERVICING FEES					8,777.21	18,799.79	27,577.00

	Aggregate Advances with respect to this Distribution					465,796.08	888,867.06	1,354,663.14
	Aggregate Outstanding Advances as reported by Servicer							0.00


ADDITIONAL COLLATERAL INFORMATION						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Prepayment Interest Shortfall							2,985.94
	Compensating Interest							(2,985.94)
	NET PREPAYMENT INTEREST SHORTFALL							0.00

	Net Monthly Excess Cash Flow							754,892.01
	Net Monthly Excess Cash Flow alloc to Realized Losses							0.00
	Net Monthly Excess Cash Flow alloc to Unpaid Interest							0.00

	Current LIBOR							1.090000%
	Next LIBOR							1.100000%
	TR1MLB



				Page 10 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Delinquency Report for April 26, 2004 Distribution


	Delinquency Report - Total


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			1,028,344.04	1,252,523.86	202,225.02	2,483,092.92
		% Balance			0.36%	0.44%	0.07%	0.87%
		# Loans			8	8	4	20
		% # Loans			0.54%	0.54%	0.27%	1.34%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		213,348.79	94,090.89	-	-	307,439.68
		% Balance		0.07%	0.03%	0.00%	0.00%	0.11%
		# Loans		2	1	-	-	3
		% # Loans		0.13%	0.07%	0.00%	0.00%	0.20%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		213,348.79	1,122,434.93	1,252,523.86	202,225.02	2,790,532.60
		% Balance		0.07%	0.39%	0.44%	0.07%	0.98%
		# Loans		2	9	8	4	23
		% # Loans		0.13%	0.60%	0.54%	0.27%	1.55%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 11 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Delinquency Report for April 26, 2004 Distribution


	Delinquency Report - Group 1 - Adj Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			971,381.11	433,833.55	130,453.36	1,535,668.02
		% Balance			0.53%	0.24%	0.07%	0.84%
		# Loans			7	5	3	15
		% # Loans			0.66%	0.47%	0.28%	1.41%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		137,165.15	-	-	-	137,165.15
		% Balance		0.07%	0.00%	0.00%	0.00%	0.07%
		# Loans		1	-	-	-	1
		% # Loans		0.09%	0.00%	0.00%	0.00%	0.09%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		137,165.15	971,381.11	433,833.55	130,453.36	1,672,833.17
		% Balance		0.07%	0.53%	0.24%	0.07%	0.91%
		# Loans		1	7	5	3	16
		% # Loans		0.09%	0.66%	0.47%	0.28%	1.51%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 12 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Delinquency Report for April 26, 2004 Distribution


	Delinquency Report - Group 2 - Adj Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			56,962.93	818,690.31	71,771.66	947,424.90
		% Balance			0.06%	0.81%	0.07%	0.93%
		# Loans			1	3	1	5
		% # Loans			0.23%	0.70%	0.23%	1.17%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		76,183.64	94,090.89	-	-	170,274.53
		% Balance		0.08%	0.09%	0.00%	0.00%	0.17%
		# Loans		1	1	-	-	2
		% # Loans		0.23%	0.23%	0.00%	0.00%	0.47%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		76,183.64	151,053.82	818,690.31	71,771.66	1,117,699.43
		% Balance		0.08%	0.15%	0.81%	0.07%	1.10%
		# Loans		1	2	3	1	7
		% # Loans		0.23%	0.47%	0.70%	0.23%	1.64%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 13 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	REO Report for April 26, 2004 Distribution


	REO Report - Mortgage Loans that Become REO During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 0				Loan Group 1 = Group 1 - Adj; REO Book Value = 000.00
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 - Adj; REO Book Value = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00

REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.

Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK


				Page 14 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Prepayment Report for April 26, 2004 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENTS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	*Current*
	Number of Paid in Full Loans					4	9	13
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					4	9	13

	Paid in Full Balance					1,096,608.27	1,564,438.28	2,661,046.55
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					11,837.33	26,825.35	38,662.68
	Total Prepayment Amount					1,108,445.60	1,591,263.63	2,699,709.23

	*Cumulative*
	Number of Paid in Full Loans					7	13	20
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					7	13	20

	Paid in Full Balance					1,751,628.40	2,067,448.25	3,819,076.65
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					16,283.16	34,416.64	50,699.80
	Total Prepayment Amount					1,767,911.56	2,101,864.89	3,869,776.45

SPACE INTENTIONALLY LEFT BLANK


Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)


				Page 15 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Prepayment Report for April 26, 2004 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENT RATES						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	SMM					1.08%	0.86%	0.94%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off					0.86%	0.57%	0.67%

	CPR					12.21%	9.84%	10.69%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off					9.84%	6.60%	7.77%

	PSA					999.76%	799.32%	871.01%
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					876.69%	583.77%	688.91%



	Group 1 - Adj
	Group 2 - Adj


CPR by Groups					Total CPR


PSA by Groups					Total PSA


				Page 16 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Prepayment Report for April 26, 2004 Distribution


	Prepayment Report - Voluntary Prepayments

	Group 1 - Adj
	Group 2 - Adj

CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off


PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off


PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*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/(0.02*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 and repurchases.
Dates correspond to distribution dates.

				Page 17 of 24				© COPYRIGHT 2004 Deutsche Bank


	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Prepayment Detail Report for April 26, 2004 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 13						Loan Group 1 = Group 1 - Adj
Total Original Principal Balance = 2,671,375.00						Loan Group 2 = Group 2 - Adj
Total Prepayment Amount = 2,661,046.55


Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date

1029564 1			237,600.00	236,612.81	Mar-31-04	6.990%	VA - 90.00%	Paid Off - 360	Sep-25-03
1045958 1			238,000.00	236,859.04	Mar-16-04	6.250%	IL - 57.34%	Paid Off - 360	Sep-02-03
1063693 1			120,000.00	119,615.98	Mar-31-04	8.300%	CA - 88.88%	Paid Off - 360	Sep-19-03
1067762 1			75,075.00	74,849.93	Mar-31-04	8.990%	CA - 55.00%	Paid Off - 360	Sep-09-03
1086463 1			100,000.00	99,251.29	Mar-16-04	9.650%	VA - 19.96%	Paid Off - 240	Sep-25-03
1088600 1			146,200.00	144,012.22	Mar-31-04	7.750%	CA - 85.00%	Paid Off - 180	Sep-11-03
1095666 1			293,000.00	291,865.86	Mar-25-04	7.350%	NH - 84.92%	Paid Off - 360	Sep-25-03
1103583 1			224,500.00	223,817.24	Mar-29-04	8.550%	CA - 63.23%	Paid Off - 360	Sep-24-03
1119323 1			138,000.00	137,553.91	Mar-16-04	8.250%	CA - 75.00%	Paid Off - 360	Sep-23-03
985679 2			180,000.00	179,345.26	Mar-31-04	7.850%	NJ - 90.00%	Paid Off - 360	Sep-30-03
1027845 2			291,000.00	289,966.40	Mar-31-04	8.700%	IL - 100.00%	Paid Off - 360	Aug-25-03
1101874 2			412,000.00	411,994.85	Mar-26-04	5.125%	CA - 84.94%	Paid Off - 300	Sep-19-03
1104475 2			216,000.00	215,301.76	Mar-16-04	8.250%	IL - 90.00%	Paid Off - 360	Sep-23-03


					Page 18 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Realized Loss Report for April 26, 2004 Distribution


	Realized Loss Report - Collateral


COLLATERAL REALIZED LOSSES						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	*Current*
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-

	*Cumulative*
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-

	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.


	Supplemental Realized Losses (Recoveries)					0.00	0.00	0.00

	Cumulative Loss Percentage							0.000000%

	Applied Realized Loss Amount Current							0.00
	Applied Realized Loss Amount Aggregate							0.00


	Group 1 - Adj						3 Months Moving Average
	Group 2 - Adj

Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation


				Page 19 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Realized Loss Report for April 26, 2004 Distribution


	Realized Loss Report - Collateral


DEFAULT SPEEDS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	MDR					0.00%	0.00%	0.00%
	3 Months Avg MDR
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%

	CDR					0.00%	0.00%	0.00%
	3 Months Avg CDR
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.00%	0.00%

	SDA					0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.00%	0.00%

	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off

	Group 1 - Adj
	Group 2 - Adj
CDR by Groups					Total CDR


SDA by Groups					Total SDA


				Page 20 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Realized Loss Report for April 26, 2004 Distribution


	Realized Loss Report - Collateral

	Group 1 - Adj
	Group 2 - Adj

CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off


SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off


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 21 of 24				© COPYRIGHT 2004 Deutsche Bank


	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Realized Loss Detail Report for April 26, 2004 Distribution


	Realized Loss Detail Report - Loans Liquidated During Current Distribution

SUMMARY							LOAN GROUP
Total Loan Count Current Losses = 0
Total Loan Count Revisions = 0						Loan Group 1 = Group 1 - Adj
Total Prior Principal Balance = 0.00						Loan Group 2 = Group 2 - Adj
Total Current Realized Loss Amount = 0.00
Total Revisions Amount = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.

Loan Number			Current	State &		Prior	Realized		Cumulative
&		Loan	Note	LTV at	Original	Principal	Loss/(Gain)	Realized	Realized
Loan Group		Status	Rate	Origination	Term	Balance	Revisions	Loss/(Gain)	Loss/(Gain)
SPACE INTENTIONALLY LEFT BLANK


					Page 22 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Triggers, Adj. Rate Cert. and Miscellaneous Report for April 26, 2004 Distribution


	Triggers, Adj. Rate Cert. and Miscellaneous Report


TRIGGER EVENTS						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Has the Optional Termination Date been reached							No

	Has a Stepdown Date occurred?							No

	Does Trigger Event exist?							No

	A Trigger Event exists if either (i) or (ii) are true
	(i) the quotient of (1) divided by (2) > 45% of Sr. Enhance %
	(1) 60+ Day Rolling Delq loans							1,236,360.24
	(2) Stated Principal Balance							285,185,379.07
	60+ Day Delq % ( quotient of (1) over (2) )							0.433529%
	Senior Enhancement Percentage							13.962374%
	46.5% of Sr Enhancement Percentage							6.478542%
	(ii) the quotient of (x) divided by (y) > the applicable loss %
	(x) aggregate Realized Losses since Cutoff Date							0.00
	(y) Cutoff Date Pool Principal Balance							289,584,472.06
	Trigger Event Loss % (quotient of (x) over (y) )							0.000000%
	Applicable Loss Percentage							100.000000%



ADJUSTABLE RATE CERTIFICATE INFORMATION						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADDITIONAL INFORMATION						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Scheduled Principal
	1 Month Prior							264,399.21
	2 Months Prior							264,917.33
	3 Months Prior							0.00
	4 Months Prior							0.00
	5 Months Prior							0.00
	6 Months Prior							0.00
	7 Months Prior							0.00
	8 Months Prior							0.00
	9 Months Prior							0.00
	10 Months Prior							0.00
	11 Months Prior							0.00
	12 Months Prior							0.00


				Page 23 of 24				© COPYRIGHT 2004 Deutsche Bank
	GSAA Trust 2004-NC1
	Mortgage Pass-Through Certificates
	Series 2004-NC1
	Other Related Information for April 26, 2004 Distribution


	Other Related Information


ADDITIONAL INFORMATION						GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL

	Scheduled Principal on 60+ Day Delinquent Loans
	1 Month Prior							0.00
	2 Months Prior							0.00
	3 Months Prior							0.00
	4 Months Prior							0.00
	5 Months Prior							0.00
	6 Months Prior							0.00
	7 Months Prior							0.00
	8 Months Prior							0.00
	9 Months Prior							0.00
	10 Months Prior							0.00
	11 Months Prior							0.00
	12 Months Prior							0.00


				Page 24 of 24				© COPYRIGHT 2004 Deutsche Bank

GS MORTGAGE SECURITIES CORP GSAA TRUST 2004-NC1 8-K