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): November 26, 2004 (Date of earliest event reported) Ameriquest Mortgage Securities Inc (as Depositor under the Trust Agreement, dated as July 1, 2004, providing for the issuance of Asset-Backed Pass-Through Certificates, Series 2004-R7) (Exact name of registrant as specified in charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-112203-03 33-0885129 (Commission File Number) (I.R.S. Employer Identification No.) 1100 TOWN & COUNTRY ROAD, SUITE 1100 ORANGE, CALIFORNIA 92868 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (714) 564-0660 (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 November 26, 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 Ameriquest Mortgage Securities Inc.,Registrant Date: ~~Sep~~Dec 2706, 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 November 26, 2004.

Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
				External Parties					Table of Contents
												Page
				Seller
									1. Certificate Payment Report					2
				Ameriquest Mortgage Corp
									2. Collection Account Report					6
									3. Credit Enhancement Report					8
									4. Collateral Report					9
				Certificate Insurer(s)					5. Delinquency Report					12
									6. REO Report					15
				Financial Security Assurance					7. Foreclosure Report					16
									8. Prepayment Report					17
									9. Prepayment Detail Report					20
									10. Realized Loss Report					2429
									11. Realized Loss Detail Report					2732
				Servicer(s)
									12. Triggers and Adj. Cert. Report					2833
				Ameriquest Mortgage Corp
									13. Additional Certificate Report					2934
				Underwriter(s)
				Citigroup
									Total Number of Pages					2934
				Dates					Contacts
				Cut-Off Date:		July 01, 2004			Valerie Delgado
				Close Date:		July 07, 2004			Administrator
				First Distribution Date:		August 25, 2004			(714) 247-6273
									valerie.m.delgado@db.com
									Address:
									1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:		~~September~~November 2726, 2004
									Factor Information:			(800) 735-7777
				Record Date:		~~August~~October 3129, 2004
									Main Phone Number:			(714) 247-6000
						September 24, 2004
						November 24, 2004
									https://www.corporatetrust.db.com/invr
									https://www.tss.db.com/invr
Page 1 of 29
Page 1 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Certificate Payment Report
Current Period Distribution - REMIC I
					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)
A-1		$	1,588,146,000.00		1,~~567~~519,~~010~~516,~~499~~609.4164	2,~~635~~907,~~842~~341.2478		2043,~~492~~621,~~157~~716.1355		2346,~~127~~529,~~999~~058.3733		0.00		0.00		1,~~546~~475,~~518~~894,~~342~~893.2809
A-2		$	99,339,000.00		9480,~~241~~393,~~655~~606.6184	~~150~~147,~~747~~388.3828		415,~~873~~674,~~036~~045.6856		515,~~023~~821,~~784~~433.0684		0.00		0.00		8964,~~368~~719,~~618~~561.9328
A-3		$	141,544,000.00		141,544,000.00	~~244~~277,~~576~~111.2470		0.00		~~244~~277,~~576~~111.2470		0.00		0.00		141,544,000.00
A-4		$	81,370,000.00		81,370,000.00	~~159~~177,~~247~~386.8760		0.00		~~159~~177,~~247~~386.8760		0.00		0.00		81,370,000.00
A-5		$	41,800,000.00		3931,~~161~~993,~~585~~755.3290	6258,~~283~~370.2483		28,~~522~~112,~~311~~975.7282		28,~~584~~171,~~594~~346.9665		0.00		0.00		3623,~~639~~880,~~273~~780.6008
A-6		$	125,000,000.00		125,000,000.00	~~227~~255,~~447~~833.9233		0.00		~~227~~255,~~447~~833.9233		0.00		0.00		125,000,000.00
M-1		$	45,600,000.00		45,600,000.00	8999,~~243~~408.00		0.00		8999,~~243~~408.00		0.00		0.00		45,600,000.00
M-2		$	18,000,000.00		18,000,000.00	3741,~~042~~000.5000		0.00		3741,~~042~~000.5000		0.00		0.00		18,000,000.00
M-3		$	57,600,000.00		57,600,000.00	~~121~~133,~~176~~760.00		0.00		~~121~~133,~~176~~760.00		0.00		0.00		57,600,000.00
M-4		$	28,800,000.00		28,800,000.00	6268,~~436~~672.00		0.00		6268,~~436~~672.00		0.00		0.00		28,800,000.00
M-5		$	26,400,000.00		26,400,000.00	6672,~~913~~336.00		0.00		6672,~~913~~336.00		0.00		0.00		26,400,000.00
M-6		$	30,000,000.00		30,000,000.00	8187,~~537~~533.5033		0.00		8187,~~537~~533.5033		0.00		0.00		30,000,000.00
M-7		$	22,800,000.00		22,800,000.00	6973,~~283~~618.5067		0.00		6973,~~283~~618.5067		0.00		0.00		22,800,000.00
M-8		$	20,400,000.00		20,400,000.00	6771,~~600~~309.5033		0.00		6771,~~600~~309.5033		0.00		0.00		20,400,000.00
M-9		$	20,400,000.00		20,400,000.00	7074,~~405~~029.5033		0.00		7074,~~405~~029.5033		0.00		0.00		20,400,000.00
M-10		$	16,800,000.00		16,800,000.00	7477,~~921~~392.00		0.00		7477,~~921~~392.00		0.00		0.00		16,800,000.00
M-11		$	12,000,000.00		12,000,000.00	4547,~~265~~280.00		0.00		4547,~~265~~280.00		0.00		0.00		12,000,000.00
CE		$	23,998,448.29		23,999,975.48	87,~~085~~294,~~292~~178.4197		0.00		87,~~085~~294,~~292~~178.4197		0.00		0.00		23,999,975.48
P		$	100.00		100.00	~~255~~1,~~258~~129,212.7381		0.00		~~255~~1,~~258~~129,212.7381		0.00		0.00		100.00
R		$	0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00
Total			2,399,997,548.29		2,~~371~~302,~~127~~618,~~815~~047.8286	1213,~~606~~093,~~519~~162.5396		2767,~~887~~408,~~505~~737.5393		4080,~~494~~501,~~025~~900.0689		0.00		0.00		2,~~343~~235,~~240~~209,~~310~~309.2993
Page 2 of 29
Page 2 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Interest Accrual Detail Current Period Factor Information per $1,0000 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)
A-1	0810/25/04		0911/2625/04		A-Act/360	03072STB1		1,588,146,000.00		~~986~~956.~~691714~~786473		1.~~659698~~830651		1227.~~903195~~467069		1429.~~562892~~297721	~~973~~929.~~788520~~319403
A-2	0810/25/04		0911/2625/04		A-Act/360	03072STC9		99,339,000.00		~~948~~809.~~687380~~285445		1.~~517505~~483690		49157.~~054618~~783404		50159.~~572122~~267094	~~899~~651.~~632762~~502041
A-3	0810/25/04		0911/2625/04		A-Act/360	03072STD7		141,544,000.00		1,000.000000		1.~~727917~~957778		0.000000		1.~~727917~~957778	1,000.000000
A-4	0810/25/04		0911/2625/04		A-Act/360	03072STE5		81,370,000.00		1,000.000000		12.~~957083~~180000		0.000000		12.~~957083~~180000	1,000.000000
A-5	0810/25/04		0911/2625/04		A-Act/360	03072STF2		41,800,000.00		~~936~~765.~~880032~~400859		1.~~490030~~396431		60194.~~342386~~090331		61195.~~832415~~486762	~~876~~571.~~537646~~310528
A-6	0810/25/04		0911/2625/04		A-Act/360	03072STT2		125,000,000.00		1,000.000000		12.~~819583~~046667		0.000000		12.~~819583~~046667	1,000.000000
M-1	0810/25/04		0911/2625/04		A-Act/360	03072STG0		45,600,000.00		1,000.000000		12.~~957083~~180000		0.000000		12.~~957083~~180000	1,000.000000
M-2	0810/25/04		0911/2625/04		A-Act/360	03072STH8		18,000,000.00		1,000.000000		2.~~057917~~277778		0.000000		2.~~057917~~277778	1,000.000000
M-3	0810/25/04		0911/2625/04		A-Act/360	03072STJ4		57,600,000.00		1,000.000000		2.~~103750~~322222		0.000000		2.~~103750~~322222	1,000.000000
M-4	0810/25/04		0911/2625/04		A-Act/360	03072STK1		28,800,000.00		1,000.000000		2.~~167917~~384444		0.000000		2.~~167917~~384444	1,000.000000
M-5	0810/25/04		0911/2625/04		A-Act/360	03072STL9		26,400,000.00		1,000.000000		2.~~534583~~740000		0.000000		2.~~534583~~740000	1,000.000000
M-6	0810/25/04		0911/2625/04		A-Act/360	03072STM7		30,000,000.00		1,000.000000		2.~~717917~~917778		0.000000		2.~~717917~~917778	1,000.000000
M-7	0810/25/04		0911/2625/04		A-Act/360	03072STN5		22,800,000.00		1,000.000000		3.~~038750~~228889		0.000000		3.~~038750~~228889	1,000.000000
M-8	0810/25/04		0911/2625/04		A-Act/360	03072STP0		20,400,000.00		1,000.000000		3.~~313750~~495555		0.000000		3.~~313750~~495555	1,000.000000
M-9	0810/25/04		0911/2625/04		A-Act/360	03072STQ8		20,400,000.00		1,000.000000		3.~~451250~~628889		0.000000		3.~~451250~~628889	1,000.000000
M-10	0810/25/04		0911/2625/04		A-Act/360	03072STR6		16,800,000.00		1,000.000000		4.~~459583~~606667		0.000000		4.~~459583~~606667	1,000.000000
M-11	0810/25/04		0911/2625/04		A-Act/360	03072STS4		12,000,000.00		1,000.000000		3.~~772083~~940000		0.000000		3.~~772083~~940000	1,000.000000
CE	0810/01/04		0810/30/04		F-30/360	AQ04R7201		23,998,448.29		1,000.063637		~~336~~303.~~908966~~943775		0.000000		~~336~~303.~~908966~~943775	1,000.063637
P	0810/01/04		0810/30/04		A-30/360	AQ04R7202		100.00		1,000.000000		~~2,552,587.300000~~###############		0.000000		~~2,552,587.300000~~###############	1,000.000000
R	0810/01/04		0810/30/04		A-30/360	AQ04R7203		0.00		0.000000		0.000000		0.000000		0.000000	0.000000
Page 3 of 29
Page 3 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Distribution to Date - REMIC I
																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)
A-1	1,588,146,000.00		611,~~051~~436,~~238~~446.4428		38105,~~311~~664,~~552~~010.7407	36,~~316~~587,~~104~~096.9884		41112,~~627~~251,~~657~~106.7291		47123,~~678~~687,~~896~~553.1619		0.00		0.00		1,~~546~~475,~~518~~894,~~342~~893.2809
A-2	99,339,000.00		~~352~~636,~~212~~533.3925		933,~~327~~355,~~451~~258.9723	~~642~~1,~~929~~264,180.1049		934,~~970~~619,~~381~~438.0772		1035,~~322~~255,~~593~~971.4697		0.00		0.00		8964,~~368~~719,~~618~~561.9328
A-3	141,544,000.00		~~558~~1,~~607~~068,008.3346		0.00	0.00		0.00		~~558~~1,~~607~~068,008.3346		0.00		0.00		141,544,000.00
A-4	81,370,000.00		~~367~~694,~~464~~210.6642		0.00	0.00		0.00		~~367~~694,~~464~~210.6642		0.00		0.00		81,370,000.00
A-5	41,800,000.00		~~146~~260,~~487~~712.0239		417,~~827~~264,~~942~~872.6285	~~332~~654,~~783~~347.7807		517,~~160~~919,~~726~~219.4092		518,~~307~~179,~~213~~932.4231		0.00		0.00		3623,~~639~~880,~~273~~780.6008
A-6	125,000,000.00		~~521~~992,~~788~~482.2064		0.00	0.00		0.00		~~521~~992,~~788~~482.2064		0.00		0.00		125,000,000.00
M-1	45,600,000.00		~~205~~389,~~928~~037.3366		0.00	0.00		0.00		~~205~~389,~~928~~037.3366		0.00		0.00		45,600,000.00
M-2	18,000,000.00		85161,~~797~~377.50		0.00	0.00		0.00		85161,~~797~~377.50		0.00		0.00		18,000,000.00
M-3	57,600,000.00		~~281~~527,~~112~~768.00		0.00	0.00		0.00		~~281~~527,~~112~~768.00		0.00		0.00		57,600,000.00
M-4	28,800,000.00		~~145~~271,~~148~~836.00		0.00	0.00		0.00		~~145~~271,~~148~~836.00		0.00		0.00		28,800,000.00
M-5	26,400,000.00		~~157~~290,~~105~~836.6734		0.00	0.00		0.00		~~157~~290,~~105~~836.6734		0.00		0.00		26,400,000.00
M-6	30,000,000.00		~~192~~354,~~195~~162.8349		0.00	0.00		0.00		~~192~~354,~~195~~162.8349		0.00		0.00		30,000,000.00
M-7	22,800,000.00		~~164~~300,~~245~~640.5017		0.00	0.00		0.00		~~164~~300,~~245~~640.5017		0.00		0.00		22,800,000.00
M-8	20,400,000.00		~~160~~293,~~896~~133.5083		0.00	0.00		0.00		~~160~~293,~~896~~133.5083		0.00		0.00		20,400,000.00
M-9	20,400,000.00		~~167~~305,~~866~~203.5083		0.00	0.00		0.00		~~167~~305,~~866~~203.5083		0.00		0.00		20,400,000.00
M-10	16,800,000.00		~~180~~324,~~336~~237.3467		0.00	0.00		0.00		~~180~~324,~~336~~237.3467		0.00		0.00		16,800,000.00
M-11	12,000,000.00		~~108~~196,~~311~~098.6633		0.00	0.00		0.00		~~108~~196,~~311~~098.6633		0.00		0.00		12,000,000.00
CE	23,998,448.29		1430,~~975~~482,~~853~~390.0407		0.00	0.00		0.00		1430,~~975~~482,~~853~~390.0407		0.00		1,527.19		23,999,975.48
P	100.00		~~401~~2,~~080~~091,562.0296		0.00	0.00		0.00		~~401~~2,~~080~~091,562.0296		0.00		0.00		100.00
R	0.00		0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00
Total	2,399,997,548.29		2551,~~223~~076,~~674~~678.9329		52156,~~466~~284,~~947~~141.3315	48,~~291~~505,~~817~~624.8640		56164,~~758~~789,765.1955		81215,~~982~~866,~~440~~443.1284		0.00		1,527.19		2,~~343~~235,~~240~~209,~~310~~309.2993
Page 4 of 29
Page 4 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Interest Detail - REMIC I
	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)
A-1	12.~~83500~~15250%		1,~~567~~519,~~010~~516,~~499~~609.4164		2,~~635~~907,~~842~~341.2478	0.00		0.00		0.00		2,~~635~~907,~~842~~341.2478		2,~~635~~907,~~842~~341.2478		0.00
A-2	12.~~74500~~06250%		9480,~~241~~393,~~655~~606.6184		~~150~~147,~~747~~388.3828	0.00		0.00		0.00		~~150~~147,~~747~~388.3828		~~150~~147,~~747~~388.3828		0.00
A-3	12.~~88500~~20250%		141,544,000.00		~~244~~277,~~576~~111.2470	0.00		0.00		0.00		~~244~~277,~~576~~111.2470		~~244~~277,~~576~~111.2470		0.00
A-4	2.~~13500~~45250%		81,370,000.00		~~159~~177,~~247~~386.8760	0.00		0.00		0.00		~~159~~177,~~247~~386.8760		~~159~~177,~~247~~386.8760		0.00
A-5	12.~~73500~~05250%		3931,~~161~~993,~~585~~755.3290		6258,~~283~~370.2483	0.00		0.00		0.00		6258,~~283~~370.2483		6258,~~283~~370.2483		0.00
A-6	12.~~98500~~30250%		125,000,000.00		~~227~~255,~~447~~833.9233	0.00		0.00		0.00		~~227~~255,~~447~~833.9233		~~227~~255,~~447~~833.9233		0.00
M-1	2.~~13500~~45250%		45,600,000.00		8999,~~243~~408.00	0.00		0.00		0.00		8999,~~243~~408.00		8999,~~243~~408.00		0.00
M-2	2.~~24500~~56250%		18,000,000.00		3741,~~042~~000.5000	0.00		0.00		0.00		3741,~~042~~000.5000		3741,~~042~~000.5000		0.00
M-3	2.~~29500~~61250%		57,600,000.00		~~121~~133,~~176~~760.00	0.00		0.00		0.00		~~121~~133,~~176~~760.00		~~121~~133,~~176~~760.00		0.00
M-4	2.~~36500~~68250%		28,800,000.00		6268,~~436~~672.00	0.00		0.00		0.00		6268,~~436~~672.00		6268,~~436~~672.00		0.00
M-5	23.~~76500~~08250%		26,400,000.00		6672,~~913~~336.00	0.00		0.00		0.00		6672,~~913~~336.00		6672,~~913~~336.00		0.00
M-6	23.~~96500~~28250%		30,000,000.00		8187,~~537~~533.5033	0.00		0.00		0.00		8187,~~537~~533.5033		8187,~~537~~533.5033		0.00
M-7	3.~~31500~~63250%		22,800,000.00		6973,~~283~~618.5067	0.00		0.00		0.00		6973,~~283~~618.5067		6973,~~283~~618.5067		0.00
M-8	3.~~61500~~93250%		20,400,000.00		6771,~~600~~309.5033	0.00		0.00		0.00		6771,~~600~~309.5033		6771,~~600~~309.5033		0.00
M-9	34.~~76500~~08250%		20,400,000.00		7074,~~405~~029.5033	0.00		0.00		0.00		7074,~~405~~029.5033		7074,~~405~~029.5033		0.00
M-10	45.~~86500~~18250%		16,800,000.00		7477,~~921~~392.00	0.00		0.00		0.00		7477,~~921~~392.00		7477,~~921~~392.00		0.00
M-11	4.~~11500~~43250%		12,000,000.00		4547,~~265~~280.00	0.00		0.00		0.00		4547,~~265~~280.00		4547,~~265~~280.00		0.00
CE	~~404~~364.~~26503~~70932%		23,999,975.48		0.00	0.00		0.00		0.00		0.00		87,~~085~~294,~~292~~178.4197		0.00
P	0.00000%		100.00		0.00	0.00		0.00		0.00		0.00		~~255~~1,~~258~~129,212.7381		0.00
R	0.00000%		0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00
Total			2,~~371~~302,~~127~~618,~~815~~047.8286		4,~~265~~669,~~968~~771.3918	0.00		0.00		0.00		4,~~265~~669,~~968~~771.3918		1213,~~606~~093,~~519~~162.5396		0.00
Page 5 of 29
Page 5 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Collection Account Report
SUMMARY
									Group 2		Group 1		Total
Principal Collections									723,~~395~~787,~~348~~021.4038		2043,~~492~~621,~~157~~716.1455		2767,~~887~~408,~~505~~737.5493
Principal Withdrawals									0.00		0.00		0.00
Principal Other Accounts									0.00		0.00		0.00
TOTAL NET PRINCIPAL									723,~~395~~787,~~348~~021.4038		2043,~~492~~621,~~157~~716.1455		2767,~~887~~408,~~505~~737.5493
Interest Collections									32,~~147~~946,~~992~~894.7847		10,~~800~~221,~~110~~756.2643		~~13,948,103.04~~#######
Interest Withdrawals									-0.00		-0.00		-0.00
Interest Fees									-~~368~~283,~~337~~666.1657		-1921,~~228,506~~035.2150		-1,~~596~~204,~~843~~702.3707
Interest Other Accounts													~~255~~1,~~259~~129,214.8613
TOTAL NET INTEREST									2,~~779~~663,~~655~~227.6290		9,~~571~~300,~~604~~720.0593		1213,~~606~~093,~~519~~162.5397
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION													4080,~~494~~501,~~025~~900.0790
PRINCIPAL - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Principal Received										~~486~~463,~~565~~276.6689		1,~~656~~623,~~349~~447.0954		2,~~142~~086,~~914~~724.7543
Curtailments										25533,~~576~~856.9365		~~204~~202,~~937~~925.5297		~~230~~736,~~514~~782.4562
Prepayments In Full										622,~~757~~672,~~342~~847.6557		1541,~~360~~475,~~471~~715.1978		2264,~~117~~148,~~813~~563.8435
Repurchased/Substitutions										~~125~~117,~~863~~040.1627		3319,~~270,399~~627.3426		3436,~~396,262~~667.5053
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										-~~230~~388,~~493~~496.1413		-~~680~~1,~~834~~328,684.2922		-~~911~~1,~~327~~717,180.4335
Realized Losses										-0.00		-0.00		-0.00
Advanced Principal										~~230~~388,~~493~~496.1413		~~680~~1,~~834~~328,684.2922		~~911~~1,~~327~~717,180.4335
TOTAL PRINCIPAL COLLECTED										723,~~395~~787,~~348~~021.4038		2043,~~492~~621,~~157~~716.1455		2767,~~887~~408,~~505~~737.5493
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 6 of 29
Page 6 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
INTEREST - COLLECTIONS
									Group 2		Group 1		Total
Scheduled Interest									3,~~260~~129,~~088~~385.8559		1110,~~113~~824,~~153~~080.6730		1413,~~373~~953,~~242~~465.5189
Repurchased/Substitution Interest									~~948~~876.9783		201,~~368~~887.5722		212,~~317~~764.5405
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									-620,~~883~~054.5079		-1341,~~413~~374.0197		-2061,~~296~~429.5177
Delinquent Interest									-12,~~624~~579,~~256~~607.8702		-58,~~041~~939,~~396~~223.7174		-611,~~665~~518,~~653~~830.5876
Compensating Interest									620,~~883~~054.5079		1341,~~413~~374.0197		2061,~~296~~429.5177
Civil Relief Act Shortfalls									-0.00		-0.00		-0.00
Interest Advanced									12,~~511~~396,~~211~~239.8307		48,~~707~~335,~~984~~012.7366		610,~~219~~731,~~196~~251.5673
TOTAL INTEREST COLLECTED									32,~~147~~946,~~992~~894.7847		10,~~800~~221,~~110~~756.2643		13,~~948~~168,~~103~~650.0491
INTEREST - WITHDRAWALS
									Group 2		Group 1		Total
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		Group 1		Total
Prepayment Charges													~~255~~1,~~258~~129,212.7381
Net WAC Investment Income													1.1332
TOTAL INTEREST OTHER ACCOUNTS													~~255~~1,~~259~~129,214.8613
INTEREST - FEES
									Group 2		Group 1		Total
Current Servicing Fees									~~119~~40,~~169~~090.6209		~~422~~131,~~343~~755.2906		~~541~~171,~~512~~845.9115
Trustee Fees									~~417~~402.9922		1,~~360~~324.3674		1,~~778~~726.3596
PMI									248,749.56		726,452.03		975,201.59
TOTAL INTEREST FEES									283,666.57		921,035.50		1,204,702.07
Certificate Insurance Policy Payment ( Class A-1)											78,350.52		78,350.52
Page 7 of 34
TOTAL INTEREST FEES									368,337.16		1,228,506.21		1,596,843.37
Page 7 of 29
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Credit Enhancement Report
ACCOUNTS
SPACE INTENTIONALLY LEFT BLANK
INSURANCE
SPACE INTENTIONALLY LEFT BLANK
									Group 2		Group 1		Total
PMI									243,174.26		711,979.87		955,154.13
Certificate Insurance Policy Payment ( Class A-1)											75,975.83		75,975.83
STRUCTURAL FEATURES
									Group 2		Group 1		Total
Overcollateralized Amount													23,999,975.4748
Overcollateralization Reduction Amount													0.0100
Overcollateralization Deficiency Amount													0.00
Overcollateralization Target Amount													23,999,975.48
Senior Enhancement Percentage													13.78%
Class A Certificate Defiency Amount													0.00
Page 8 of 29
Page 8 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Collateral Report
COLLATERAL
										Group 2		Group 1		Total
Loan Count:
Original									2,298		12,946		15,244
Prior									2,~~273~~203		12,~~823~~559		1514,~~096~~762
Prefunding									0		0		0
Scheduled Paid Offs									-0		-0		-0
Full Voluntary Prepayments									-2374		-93243		-~~116~~317
Repurchases									-21		-212		-233
Liquidations									-0		-0		-0
Current									2,~~248~~128		12,~~709~~314		14,~~957~~442
Principal Balance:
Original									565,050,513.03		1,834,947,035.26		2,399,997,548.29
Prior									~~557~~536,~~315~~299,~~163~~284.1697		1,~~813~~766,~~812~~318,~~652~~762.6789		2,~~371~~302,~~127~~618,~~815~~047.8386
Prefunding									0.00		0.00		0.00
Scheduled Principal									-~~486~~463,~~565~~276.6689		-1,~~656~~623,~~349~~447.0954		-2,~~142~~086,~~914~~724.7543
Partial Prepayments									-25533,~~576~~856.9365		-~~204~~202,~~937~~925.5297		-~~230~~736,~~514~~782.4562
Full Voluntary Prepayments									-622,~~757~~672,~~342~~847.6557		-1541,~~360~~475,~~471~~715.1978		-2264,~~117~~148,~~813~~563.8435
Repurchases									-~~125~~117,~~863~~040.1627		-3319,~~270,399~~627.3426		-3436,~~396,262~~667.5053
Liquidations									-0.00		-0.00		-0.00
Current									~~549~~512,~~919~~512,~~814~~263.7659		1,~~793~~722,~~320~~697,~~495~~046.5334		2,~~343~~235,~~240~~209,~~310~~309.2993
PREFUNDING
SPACE INTENTIONALLY LEFT BLANK
Page 9 of 29
Page 9 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Coupon Original									7.03206%		7.37214%		7.29207%
Weighted Average Coupon Prior									7.~~03206~~01984%		7.~~37214~~36074%		7.~~29207~~28074%
Weighted Average Coupon Current									7.~~02160~~00414%		7.~~36583~~35494%		7.~~28492~~27323%
Weighted Average Months to Maturity Original									355		347		349
Weighted Average Months to Maturity Prior									~~355~~352		~~347~~345		~~349~~346
Weighted Average Months to Maturity Current									~~354~~351		~~346~~343		~~348~~345
Weighted Avg Remaining Amortization Term Original									355		347		349
Weighted Avg Remaining Amortization Term Prior									~~355~~352		~~347~~345		~~349~~346
Weighted Avg Remaining Amortization Term Current									~~354~~351		~~346~~343		~~348~~345
Weighted Average Seasoning Original									2.08		2.13		2.12
Weighted Average Seasoning Prior									24.0807		24.1312		24.1211
Weighted Average Seasoning Current									35.08		35.12		35.11
Page 10 of 29
Page 10 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
ARM CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Margin Original									5.88406%		6.00664%		5.97403%
Weighted Average Margin Prior									5.~~88406~~88765%		6.~~00664~~00667%		5.~~97403~~97505%
Weighted Average Margin Current									5.~~88346~~88436%		6.~~00684~~00451%		5.~~97404~~97278%
Weighted Average Max Rate Original									13.10038%		13.38875%		13.31203%
Weighted Average Max Rate Prior									13.~~10038~~08734%		13.~~38875~~37514%		13.~~31203~~29866%
Weighted Average Max Rate Current									13.~~08814~~07303%		13.~~38123~~36814%		13.~~30331~~29019%
Weighted Average Min Rate Original									7.10038%		7.38875%		7.31203%
Weighted Average Min Rate Prior									7.~~10038~~08734%		7.~~38875~~37514%		7.~~31203~~29866%
Weighted Average Min Rate Current									7.~~08814~~07303%		7.~~38123~~36814%		7.~~30331~~29019%
Weighted Average Cap Up Original									1.00000%		1.00000%		1.00000%
Weighted Average Cap Up Prior									1.00000%		1.00000%		1.00000%
Weighted Average Cap Up Current									1.00000%		1.00000%		1.00000%
Weighted Average Cap Down Original									1.00000%		1.00000%		1.00000%
Weighted Average Cap Down Prior									1.00000%		1.00000%		1.00000%
Weighted Average Cap Down Current									1.00000%		1.00000%		1.00000%
SERVICING FEES & ADVANCES
										Group 2		Group 1		Total
Current Servicing Fees									~~119~~40,~~169~~090.6209		~~422~~131,~~343~~755.2906		~~541~~171,~~512~~845.9115
Delinquent Servicing Fees									~~113~~183,~~045~~367.0395		~~333~~604,~~411~~211.9809		~~446~~787,~~457~~579.0103
TOTAL SERVICING FEES									~~232~~223,~~214~~458.6504		~~755~~735,~~755~~966.2918		~~987~~959,~~969~~424.9421
Total Servicing Fees									~~232~~223,~~214~~458.6504		~~755~~735,~~755~~966.2918		~~987~~959,~~969~~424.9421
Compensating Interest									-620,~~883~~054.5079		-1341,~~413~~374.0197		-2061,~~296~~429.5177
Delinquent Servicing Fees									-~~113~~183,~~045~~367.0395		-~~333~~604,~~411~~211.9809		-~~446~~787,~~457~~579.0103
COLLECTED SERVICING FEES									~~119~~40,~~169~~090.6209		~~422~~131,~~343~~755.2906		~~521~~110,~~216~~415.42
Total Advanced Interest									12,~~511~~396,~~211~~239.8307		48,~~707~~335,~~984~~012.7366		610,~~219~~731,~~196~~251.5673
Total Advanced Principal									~~230~~388,~~493~~496.1413		~~680~~1,~~834~~328,684.2922		~~911~~1,~~327~~717,180.4335
Aggregate Advances with respect to this Distribution									12,~~741~~784,~~704~~735.9720		59,~~388~~663,~~819~~696.0288		712,~~130~~448,~~523~~432.9908
ADDITIONAL COLLATERAL INFORMATION
									Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)									620,~~883~~054.5079		1341,~~413~~374.0197		2061,~~296~~429.5177
Compensating Interest									-620,~~883~~054.5079		-1341,~~413~~374.0197		-2061,~~296~~429.5177
Net Prepayment Interest Shortfall (PPIS)									0.00		0.00		0.00
Ending Pool Stated Principal Balance									~~549~~512,~~919~~512,~~814~~263.7659		1,~~793~~722,~~320~~697,~~495~~046.5334		2,~~343~~235,~~240~~209,~~310~~309.2993
Weighted Average Net Mortgage Rate									5.~~985100~~959123%		6.~~384312~~370332%		6.~~290480~~274558%
Page 11 of 29
Page 11 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Delinquency Report
	TOTAL
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			1031,~~805~~571,~~716~~482.1408		~~335~~17,~~134~~602,392.5512		04,455,621.0080		1153,~~140~~629,~~850~~496.6900
			% Balance			01.4641%		0.0179%		0.0020%		02.4840%
			# Loans			78237		2123		031		80391
			% # Loans			01.5264%		0.0185%		0.0021%		02.5371%
	FORECLOSURE		Balance		0.00	0.00		0461,356.0022		04,117,519.0013		04,578,875.0035
			% Balance		0.00%	0.00%		0.0002%		0.0018%		0.0020%
			# Loans		0	0		03		026		029
			% # Loans		0.00%	0.00%		0.0002%		0.0018%		0.0020%
	BANKRUPTCY		Balance		13,~~436~~624,~~195~~420.9028	~~276~~485,~~578~~909.9443		0299,982.0091		0592,523.0043		15,~~712~~002,~~774~~836.8405
			% Balance		0.0616%	0.0102%		0.0001%		0.0003%		0.0722%
			# Loans		1025	13		02		05		1135
			% # Loans		0.0717%	0.0102%		0.0001%		0.0003%		0.0724%
	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		13,~~436~~624,~~195~~420.9028	1132,~~082~~057,~~295~~391.0851		~~335~~18,~~134~~363,731.5525		09,165,664.0036		1263,~~853~~211,~~625~~207.5340
			% Balance		0.0616%	01.4743%		0.0182%		0.0041%		02.5583%
			# Loans		1025	79240		2128		062		91455
			% # Loans		0.0717%	01.5366%		0.0189%		0.0043%		03.6115%
Page 12 of 29
Page 12 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
	GROUP 1
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			824,~~121~~701,~~785~~638.0135		~~335~~13,~~134~~669,618.5559		02,867,346.0052		841,~~456~~238,~~919~~603.5646
			% Balance			01.4543%		0.0279%		0.0017%		02.4739%
			# Loans			65204		2103		023		67330
			% # Loans			01.5166%		0.0284%		0.0019%		02.5368%
	FORECLOSURE		Balance		0.00	0.00		0461,356.0022		02,738,329.0019		03,199,685.0041
			% Balance		0.00%	0.00%		0.0003%		0.0016%		0.0019%
			# Loans		0	0		03		022		025
			% # Loans		0.00%	0.00%		0.0002%		0.0018%		0.0020%
	BANKRUPTCY		Balance		13,~~270~~151,~~072~~982.6701	~~276~~485,~~578~~909.9443		0299,982.0091		0592,523.0043		14,~~546~~530,~~651~~397.6178
			% Balance		0.0718%	0.0203%		0.0002%		0.0003%		0.0926%
			# Loans		922	13		02		05		1032
			% # Loans		0.0718%	0.0102%		0.0002%		0.0004%		0.0826%
	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		13,~~270~~151,~~072~~982.6701	825,~~398~~187,~~363~~547.9578		~~335~~14,~~134~~430,957.5572		06,198,199.0014		1048,~~003~~968,~~571~~686.1765
			% Balance		0.0718%	01.4746%		0.0284%		0.0036%		02.5684%
			# Loans		922	66207		2108		050		77387
			% # Loans		0.0718%	01.5268%		0.0288%		0.0041%		03.6114%
Page 13 of 29
Page 13 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
	GROUP 2
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			26,~~683~~869,~~931~~843.1373		03,932,773.0053		01,588,275.0028		212,~~683~~390,~~931~~892.1354
			% Balance			01.4934%		0.0077%		0.0031%		02.4942%
			# Loans			1333		020		08		1361
			% # Loans			01.5855%		0.0094%		0.0038%		02.5887%
	FORECLOSURE		Balance		0.00	0.00		0.00		01,379,189.0094		01,379,189.0094
			% Balance		0.00%	0.00%		0.00%		0.0027%		0.0027%
			# Loans		0	0		0		04		04
			% # Loans		0.00%	0.00%		0.00%		0.0019%		0.0019%
	BANKRUPTCY		Balance		~~166~~472,~~123~~438.2327	0.00		0.00		0.00		~~166~~472,~~123~~438.2327
			% Balance		0.0309%	0.00%		0.00%		0.00%		0.0309%
			# Loans		13	0		0		0		13
			% # Loans		0.0414%	0.00%		0.00%		0.00%		0.0414%
	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		~~166~~472,~~123~~438.2327	26,~~683~~869,~~931~~843.1373		03,932,773.0053		02,967,465.0022		214,~~850~~242,~~054~~520.3675
			% Balance		0.0309%	01.4934%		0.0077%		0.0058%		02.5278%
			# Loans		13	1333		020		012		1468
			% # Loans		0.0414%	01.5855%		0.0094%		0.0056%		03.6220%
Page 14 of 29
Page 14 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 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 15 of 29
Page 15 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 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
72436884 1
Page 16 of 29
			117,000.00		116,520.07	01-Jun-2004		7.990%		OH - 84.78%		360		01-Jun-2004
72538283 1			238,000.00		237,246.10	01-Jun-2004		8.350%		AL - 89.81%		360		01-Jul-2004
75753483 1			60,000.00		59,673.26	01-May-2004		6.550%		OH - 75.00%		360		01-Jun-2004
76237007 1			73,000.00		72,797.19	01-Jun-2004		8.990%		HI - 58.40%		360		01-Jul-2004
76583269 1			300,000.00		298,977.92	01-Jun-2004		7.990%		IN - 59.41%		360		01-Jul-2004
77152320 1			111,750.00		111,559.87	01-Jul-2004		11.300%		AZ - 75.00%		360		01-Jul-2004
77249803 1			78,500.00		78,339.54	01-Jun-2004		10.450%		MI - 74.76%		360		01-Jul-2004
77471605 1			276,000.00		275,019.69	01-Jul-2004		8.700%		NY - 74.59%		360		01-Jun-2004
77923720 1			179,100.00		178,566.37	01-Jun-2004		8.650%		GA - 90.00%		360		01-Jul-2004
77931624 1			123,000.00		122,692.62	01-Jun-2004		9.500%		CO - 75.00%		360		#######
78042884 1			70,000.00		69,809.89	01-Jun-2004		9.100%		CA - 69.31%		360		01-Jul-2004
78095387 1			132,000.00		131,782.59	01-Jun-2004		11.450%		GA - 80.00%		360		01-Jul-2004
78360740 1			96,300.00		95,908.43	01-Jun-2004		7.100%		MO - 90.00%		360		01-Jul-2004
78621224 1			74,970.00		74,776.66	01-Jul-2004		9.350%		GA - 85.00%		360		01-Jul-2004
78640661 1			78,800.00		78,493.27	01-Jun-2004		8.250%		GA - 84.91%		360		01-Jun-2004
78646783 1			103,500.00		103,168.78	01-Jun-2004		8.300%		GA - 90.00%		360		01-Jul-2004
78662301 1			121,500.00		121,111.18	01-Jun-2004		8.300%		GA - 90.00%		360		01-Jul-2004
78777422 1			215,000.00		214,325.83	01-Jun-2004		8.400%		MN - 89.58%		360		01-Jul-2004
79672242 1			133,600.00		133,233.39	01-Jun-2004		9.050%		GA - 80.00%		360		01-Jul-2004
79681102 1			60,000.00		59,795.54	01-Jun-2004		7.990%		FL - 56.03%		360		01-Jul-2004
80129422 1			86,400.00		86,184.10	01-Jun-2004		9.500%		FL - 80.00%		360		01-Jul-2004
80130685 1			62,475.00		62,334.14	01-Jun-2004		9.990%		IN - 85.58%		360		01-Jul-2004
80784143 1			210,000.00		209,475.26	01-Jun-2004		9.500%		LA - 70.00%		360		01-Jul-2004
80933344 1			148,500.00		148,015.08	01-Jun-2004		8.200%		FL - 90.00%		360		01-Jul-2004
81061624 1			60,000.00		59,878.64	01-Jun-2004		10.500%		FL - 75.00%		360		01-Jul-2004
78282027 2			66,300.00		66,110.39	01-Jun-2004		8.850%		FL - 85.00%		360		01-Jul-2004
80020209 2			436,000.00		434,852.25	01-Jun-2004		9.250%		NY - 80.00%		360		01-Jul-2004
80133424 2			549,000.00		547,474.80	01-Jun-2004		8.990%		NY - 90.00%		360		01-Jul-2004
80914666 2			332,000.00		330,752.50	01-Jun-2004		7.500%		NY - 74.61%		360		01-Jul-2004
TOTAL			4,592,695.00		4,578,875.35
Page 16 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Prepayment Report
VOLUNTARY PREPAYMENTS
										Group 2		Group 1		Total
Current
Number of Paid in Full Loans									2374		93243		~~116~~317
Number of Repurchased Loans									21		212		233
Total Number of Loans Prepaid in Full									2575		~~114~~245		~~139~~320
Curtailments Amount									25533,~~576~~856.9365		~~204~~202,~~937~~925.5297		~~230~~736,~~514~~782.4562
Paid in Full Balance									622,~~757~~672,~~342~~847.6557		1541,~~360~~475,~~471~~715.1978		2264,~~117~~148,~~813~~563.8435
Repurchased Loans Balance									~~125~~117,~~863~~040.1627		3319,~~270,399~~627.3426		3436,~~396,262~~667.5053
Total Prepayment Amount									623,~~908~~323,~~782~~744.7449		1841,~~835~~998,~~808~~269.0501		2565,~~744~~322,~~590~~013.7950
Cumulative
Number of Paid in Full Loans									41160		~~150~~540		~~191~~700
Number of Repurchased Loans									910		8792		96102
Total Number of Loans Prepaid in Full									50170		~~237~~632		~~287~~802
Paid in Full Balance									1147,~~256~~050,~~270~~056.8900		2591,~~268~~733,~~022~~899.4886		36138,~~524~~783,~~293~~955.3786
Repurchased Loans Balance									2,~~823~~940,~~674~~714.3966		1213,~~604~~131,~~798~~597.1040		1516,~~428~~072,~~472~~312.4906
Curtailments Amount									75628,~~040~~951.1122		~~437~~797,~~614~~394.1782		~~512~~1,~~654~~426,346.2804
Total Prepayment Amount									1450,~~154~~619,~~985~~721.3988		38105,~~310~~662,~~434~~892.7508		52156,~~465~~282,~~420~~613.1496
Page 17 of 29
Page 17 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
VOLUNTARY PREPAYMENTS RATES
										Group 2		Group 1		Total
SMM									14.2435%		12.0438%		12.0984%
3 Months Avg SMM									12.2667%		1.0561%		1.1086%
12 Months Avg SMM									12.2633%		1.0548%		1.1067%
Avg SMM Since Cut-off									12.2633%		1.0548%		1.1067%
CPR									1341.9138%		1125.7810%		~~12.~~29.22%
3 Months Avg CPR									1427.1473%		1117.9173%		1220.4417%
12 Months Avg CPR									1424.1460%		1116.9134%		1218.4434%
Avg CPR Since Cut-off									1424.1460%		1116.9134%		1218.4434%
PSA									24,~~262~~075.2633%		12,~~886~~451.7470%		12,~~974~~859.6586%
3 Months Avg PSA Approximation									23,~~739~~402.6948%		2,~~268~~150.4487%		2,~~378~~453.7717%
12 Months Avg PSA Approximation									23,~~739~~437.6980%		2,~~268~~255.4429%		2,~~378~~538.7717%
Avg PSA Since Cut-off Approximation									23,~~739~~437.6980%		2,~~268~~255.4430%		2,~~378~~538.7717%
Page 18 of 29
Page 18 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 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 19 of 29
Page 19 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 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
64114200 1			131,000.00		130,431.60		26-Aug-2004		8.500%		MN - 74.01%		Paid Off - 360		01-Feb-2004
62053723 1			110,000.00		109,564.11		08-Nov-2004		10.700%		IL - 73.33%		Paid Off - 360		01/01/2004
64123540 1			288,750.00		287,561.34		25-Aug-2004		8.750%		CA - 87.50%		Paid Off - 360		01-Feb-2004
62990643 1			90,750.00		90,375.57		25-Oct-2004		9.990%		AZ - 78.23%		Paid Off - 360		02/01/2004
64191141 1			247,500.00		246,051.91		24-Aug-2004		6.990%		MA - 90.00%		Paid Off - 360		01-Feb-2004
63032924 1			297,000.00		295,492.21		18-Oct-2004		8.990%		CA - 90.00%		Paid Off - 360		02/01/2004
64260128 1			115,000.00		114,606.96		01-Sep-2004		9.650%		WI - 69.70%		Paid Off - 360		01-Feb-2004
64480924 1			159,000.00		158,304.24		10-Nov-2004		9.900%		MA - 60.00%		Paid Off - 360		02/01/2004
64356025 1			68,000.00		66,673.42		03-Sep-2004		8.650%		AL - 85.00%		Paid Off - 180		01-Feb-2004
64919863 1			225,000.00		221,317.16		29-Oct-2004		7.750%		FL - 88.24%		Paid Off - 240		02/01/2004
64458920 1			275,000.00		273,746.84		31-Aug-2004		8.250%		CA - 72.37%		Paid Off - 360		01-Feb-2004
64998586 1			136,000.00		135,274.82		28-Oct-2004		8.750%		CA - 85.00%		Paid Off - 360		02/01/2004
64658883 2			486,000.00		482,721.15		03-Sep-2004		6.250%		MD - 82.37%		Paid Off - 360		01-Feb-2004
65360208 1			230,000.00		228,656.66		03-Nov-2004		8.300%		NY - 83.94%		Paid Off - 360		02/01/2004
65045007 1			144,000.00		143,153.56		18-Aug-2004		6.990%		MD - 90.00%		Paid Off - 360		01-Feb-2004
65545964 1			259,250.00		257,311.04		30-Oct-2004		7.050%		CA - 75.14%		Paid Off - 360		02/01/2004
65680704 2			486,000.00		483,666.48		31-Aug-2004		7.990%		CA - 90.00%		Paid Off - 360		01-Feb-2004
65590887 1			60,000.00		59,555.61		01-Nov-2004		7.100%		FL - 41.10%		Paid Off - 360		02/01/2004
69881043 1			351,000.00		349,803.88		08-Sep-2004		7.990%		CA - 90.00%		Paid Off - 360		01-Apr-2004
65701542 1			128,250.00		127,693.60		28-Oct-2004		9.750%		FL - 75.00%		Paid Off - 360		02/01/2004
71275168 2			533,000.00		531,130.73		17-Aug-2004		6.700%		IL - 64.22%		Paid Off - 360		01-May-2004
67102145 2			344,250.00		342,354.60		13-Oct-2004		7.990%		CO - 85.00%		Paid Off - 360		03/01/2004
73337305 1			60,000.00		59,695.72		20-Aug-2004		9.500%		TX - 23.08%		Paid Off - 180		01-Jul-2004
67547067 2			60,300.00		59,961.92		03-Nov-2004		7.900%		MD - 90.00%		Paid Off - 360		03/01/2004
74464785 1			70,000.00		69,877.88		03-Sep-2004		10.150%		IL - 63.64%		Paid Off - 360		01-Jun-2004
70777446 1			74,792.00		74,429.37		18-Oct-2004		7.990%		FL - 78.73%		Paid Off - 360		04/01/2004
75300426 2			260,000.00		259,271.49		31-Aug-2004		6.400%		CA - 85.25%		Paid Off - 360		01-Jun-2004
70844089 1			139,500.00		139,253.29		28-Oct-2004		10.850%		WI - 75.00%		Paid Off - 360		07/01/2004
75421040 1			96,300.00		96,104.45		08-Sep-2004		7.990%		OH - 90.00%		Paid Off - 360		01-Jun-2004
71160501 1			235,800.00		234,875.91		30-Oct-2004		8.990%		FL - 90.00%		Paid Off - 360		04/01/2004
75873448 1			135,000.00		134,817.84		25-Aug-2004		7.990%		IL - 87.10%		Paid Off - 360		01-Jul-2004
73248544 1			178,000.00		177,541.25		27-Oct-2004		8.250%		RI - 89.00%		Paid Off - 360		07/01/2004
75982025 1			79,000.00		78,948.13		03-Sep-2004		11.400%		MN - 67.52%		Paid Off - 360		01-Jul-2004
73991325 1			97,750.00		97,487.80		03-Nov-2004		10.050%		IL - 85.00%		Paid Off - 360		05/01/2004
76565126 1			316,800.00		316,117.83		27-Aug-2004		5.600%		CA - 90.00%		Paid Off - 360		01-Jul-2004
74553280 1			262,000.00		261,419.87		29-Oct-2004		8.990%		NY - 74.86%		Paid Off - 360		07/01/2004
76903285 1			287,000.00		286,382.00		08-Sep-2004		5.600%		CA - 88.31%		Paid Off - 360		01-Jul-2004
74705682 1			276,500.00		275,272.62		20-Oct-2004		6.650%		MA - 72.76%		Paid Off - 360		06/01/2004
76934249 1			249,950.00		249,764.99		02-Sep-2004		10.850%		CA - 62.49%		Paid Off - 360		01-Jul-2004
75660829 1			186,000.00		185,307.99		19-Oct-2004		7.550%		CA - 54.93%		Paid Off - 360		06/01/2004
76955525 1			228,000.00		227,384.27		13-Aug-2004		6.550%		MN - 78.62%		Paid Off - 360		01-Jun-2004
75661728 1			150,000.00		149,701.32		25-Oct-2004		9.500%		CA - 75.00%		Paid Off - 360		07/01/2004
76990084 1			158,505.00		158,097.27		09-Sep-2004		6.800%		MD - 83.42%		Paid Off - 360		01-Jun-2004
75663823 2			428,500.00		427,123.86		10-Nov-2004		7.150%		AL - 89.27%		Paid Off - 360		07/01/2004
77069789 1			192,250.00		191,898.06		03-Sep-2004		6.450%		MD - 64.08%		Paid Off - 360		01-Jul-2004
75874644 1			100,000.00		99,564.64		22-Oct-2004		6.750%		CA - 29.85%		Paid Off - 360		06/01/2004
77170728 2			543,000.00		541,905.78		25-Aug-2004		5.950%		IL - 77.57%		Paid Off - 360		01-Jul-2004
76127349 1			95,200.00		95,056.23		21-Oct-2004		10.800%		CA - 85.00%		Paid Off - 360		07/01/2004
77299220 1			118,800.00		118,682.66		30-Aug-2004		9.500%		IL - 90.00%		Paid Off - 360		01-Jul-2004
76131648 1			144,375.00		143,746.42		08-Nov-2004		6.750%		CT - 87.50%		Paid Off - 360		06/01/2004
77366466 1			306,000.00		305,400.78		03-Sep-2004		6.100%		MA - 90.00%		Paid Off - 360		01-Jul-2004
76198084 1			189,500.00		188,970.55		28-Oct-2004		7.850%		MN - 84.60%		Paid Off - 360		07/01/2004
77617520 1			171,000.00		170,501.22		08-Sep-2004		6.150%		IL - 95.00%		Paid Off - 360		01-Jun-2004
76288109 1			320,000.00		319,114.85		08-Nov-2004		7.900%		NY - 76.19%		Paid Off - 360		07/01/2004
77635720 2			60,000.00		59,949.45		17-Aug-2004		10.250%		CA - 9.30%		Paid Off - 360		01-Jul-2004
76367689 1			108,000.00		107,565.84		27-Oct-2004		5.990%		MN - 58.70%		Paid Off - 360		07/01/2004
77674083 2			160,000.00		159,720.99		02-Sep-2004		6.700%		MD - 59.26%		Paid Off - 360		01-Jul-2004
76405802 1			225,000.00		223,998.79		02-Nov-2004		5.450%		CA - 90.00%		Paid Off - 360		07/01/2004
77737567 1			101,000.00		100,860.44		11-Aug-2004		9.850%		CO - 56.11%		Paid Off - 360		01-Jun-2004
76420108 1			104,000.00		103,800.64		01-Nov-2004		10.750%		NY - 77.04%		Paid Off - 360		06/01/2004
77749125 1			90,000.00		89,741.59		18-Aug-2004		6.050%		CA - 38.30%		Paid Off - 300		01-Jul-2004
76637164 1			120,000.00		119,690.74		10-Nov-2004		8.250%		AZ - 82.76%		Paid Off - 360		07/01/2004
77780245 1			141,750.00		141,516.47		07-Sep-2004		6.990%		MN - 87.50%		Paid Off - 360		01-Jul-2004
76639707 2			428,975.00		427,689.54		08-Nov-2004		7.500%		CA - 87.55%		Paid Off - 360		07/01/2004
77797660 1			80,000.00		79,906.64		02-Sep-2004		8.700%		IL - 81.63%		Paid Off - 360		01-Jul-2004
76747401 1			116,500.00		116,115.71		09-Nov-2004		8.150%		OH - 93.20%		Paid Off - 360		06/01/2004
77915221 2			103,140.00		103,032.65		12-Aug-2004		9.250%		SC - 90.00%		Paid Off - 360		01-Jul-2004
76949601 1			200,800.00		198,556.35		09-Nov-2004		5.990%		MA - 80.00%		Paid Off - 240		07/01/2004
77989580 1			229,500.00		229,295.65		12-Aug-2004		9.990%		CT - 90.00%		Paid Off - 360		01-Jul-2004
77048486 1			200,000.00		199,468.65		29-Oct-2004		8.100%		CA - 80.00%		Paid Off - 360		07/01/2004
78037843 1			297,500.00		297,295.95		02-Sep-2004		11.200%		CO - 85.00%		Paid Off - 360		01-Jul-2004
77054443 1			178,489.00		177,737.70		22-Oct-2004		7.050%		IL - 89.24%		Paid Off - 360		06/01/2004
78064227 1			93,750.00		93,668.46		07-Sep-2004		10.100%		GA - 75.00%		Paid Off - 360		01-Jul-2004
77274561 1			90,000.00		89,835.25		04-Nov-2004		9.900%		SC - 90.00%		Paid Off - 360		07/01/2004
Page 20 of 29
Page 20 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
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
78192580 1			142,000.00		141,798.90		26-Aug-2004		7.750%		IL - 89.53%		Paid Off - 360		01-Jul-2004
77390326 1			85,000.00		84,665.39		25-Oct-2004		6.100%		MN - 73.91%		Paid Off - 360		07/01/2004
78226206 1			206,500.00		206,121.98		02-Sep-2004		6.450%		CA - 74.82%		Paid Off - 360		01-Jul-2004
77391324 2			87,472.00		87,217.59		22-Oct-2004		7.650%		KY - 72.89%		Paid Off - 360		07/01/2004
78278942 1			215,600.00		215,312.64		07-Sep-2004		8.050%		MN - 82.92%		Paid Off - 360		01-Jul-2004
77394906 2			225,000.00		224,179.73		20-Oct-2004		6.500%		AZ - 88.58%		Paid Off - 360		07/01/2004
78323581 2			396,000.00		395,316.18		13-Aug-2004		6.750%		CA - 90.00%		Paid Off - 360		01-Jul-2004
77449486 2			289,000.00		288,292.21		26-Oct-2004		8.500%		CT - 85.00%		Paid Off - 360		07/01/2004
78358363 1			178,018.00		177,777.81		08-Sep-2004		7.990%		NY - 90.00%		Paid Off - 360		01-Jul-2004
77478642 1			205,000.00		204,348.09		10-Nov-2004		7.200%		MD - 89.13%		Paid Off - 360		07/01/2004
78399185 1			78,000.00		77,904.16		07-Sep-2004		8.450%		MI - 75.00%		Paid Off - 360		01-Jul-2004
77549020 1			183,000.00		182,393.51		14-Oct-2004		6.990%		MD - 62.03%		Paid Off - 360		07/01/2004
78448347 1			122,536.00		122,346.12		24-Aug-2004		7.300%		FL - 86.55%		Paid Off - 360		01-Jul-2004
77606283 1			150,000.00		149,725.47		05-Nov-2004		9.900%		MD - 75.00%		Paid Off - 360		07/01/2004
78459344 1			101,700.00		101,547.04		20-Aug-2004		7.450%		WI - 90.00%		Paid Off - 360		01-Jul-2004
77617124 1			296,000.00		295,290.89		29-Oct-2004		8.750%		NY - 74.47%		Paid Off - 360		07/01/2004
78466026 1			223,000.00		222,579.78		31-Aug-2004		6.300%		RI - 87.45%		Paid Off - 360		01-Jul-2004
77636124 1			195,000.00		194,522.39		26-Oct-2004		8.500%		NY - 70.91%		Paid Off - 360		07/01/2004
78546389 1			327,250.00		326,710.88		31-Aug-2004		6.990%		NY - 85.00%		Paid Off - 360		01-Jul-2004
77694420 1			94,000.00		93,698.09		12-Oct-2004		7.150%		IL - 54.65%		Paid Off - 360		07/01/2004
78577905 2			340,000.00		339,560.43		27-Aug-2004		8.200%		CA - 89.95%		Paid Off - 360		01-Jul-2004
77699825 1			145,000.00		144,476.45		30-Oct-2004		6.550%		MA - 50.00%		Paid Off - 360		07/01/2004
78658341 1			88,000.00		87,925.06		07-Sep-2004		10.200%		WI - 74.58%		Paid Off - 360		01-Jul-2004
77767101 2			354,000.00		352,671.62		28-Oct-2004		6.350%		CA - 71.52%		Paid Off - 360		07/01/2004
78675303 1			99,000.00		98,891.21		27-Aug-2004		8.990%		FL - 75.00%		Paid Off - 360		01-Jul-2004
77782365 1			94,000.00		93,744.63		20-Oct-2004		7.990%		CA - 89.52%		Paid Off - 360		07/01/2004
78678869 1			313,000.00		312,336.94		31-Aug-2004		6.100%		CA - 42.59%		Paid Off - 360		01-Jul-2004
77800985 1			131,000.00		130,397.12		15-Oct-2004		6.500%		WA - 72.38%		Paid Off - 360		06/01/2004
78713468 1			155,500.00		155,243.81		18-Aug-2004		6.990%		CA - 62.70%		Paid Off - 360		01-Jul-2004
77807923 1			265,000.00		264,259.58		28-Oct-2004		7.850%		CA - 84.13%		Paid Off - 360		07/01/2004
78732161 1			60,000.00		59,948.90		18-Aug-2004		10.200%		FL - 44.44%		Paid Off - 360		01-Jul-2004
77823383 1			97,500.00		97,219.26		03-Nov-2004		7.700%		GA - 77.38%		Paid Off - 360		07/01/2004
78746542 2			242,250.00		242,056.53		30-Aug-2004		10.500%		IL - 85.00%		Paid Off - 360		01-Jul-2004
77854305 1			112,500.00		112,182.85		26-Oct-2004		7.990%		MD - 75.00%		Paid Off - 360		07/01/2004
78802287 2			410,000.00		409,446.84		18-Aug-2004		7.990%		MN - 78.85%		Paid Off - 360		01-Jul-2004
77856706 2			438,000.00		436,713.40		30-Oct-2004		7.600%		NY - 36.50%		Paid Off - 360		07/01/2004
78832342 1			100,000.00		99,858.37		20-Aug-2004		7.750%		GA - 71.86%		Paid Off - 360		01-Jul-2004
77865129 1			121,410.00		120,008.12		19-Oct-2004		8.990%		NY - 90.00%		Paid Off - 240		07/01/2004
78845021 1			202,000.00		201,536.61		31-Aug-2004		6.350%		RI - 84.87%		Paid Off - 360		01-Jul-2004
77868321 1			161,000.00		72,129.57		29-Oct-2004		5.950%		MD - 52.70%		Paid Off - 360		07/01/2004
78968385 1			125,000.00		124,538.65		09-Sep-2004		8.250%		NY - 50.00%		Paid Off - 360		01-Jul-2004
77896322 1			210,250.00		209,760.81		29-Oct-2004		8.750%		WA - 72.50%		Paid Off - 360		07/01/2004
79106522 2			102,000.00		101,792.73		02-Sep-2004		6.300%		CA - 79.84%		Paid Off - 360		01-Jul-2004
77907624 1			382,500.00		381,610.05		02-Nov-2004		8.750%		NY - 85.00%		Paid Off - 360		07/01/2004
79194940 1			224,500.00		224,203.80		09-Sep-2004		8.100%		MD - 84.08%		Paid Off - 360		01-Jul-2004
77912905 1			211,500.00		210,859.88		13-Oct-2004		7.450%		MD - 90.00%		Paid Off - 360		07/01/2004
79204525 1			227,000.00		226,559.73		17-Aug-2004		6.150%		CA - 66.76%		Paid Off - 360		01-Jul-2004
77931384 2			165,600.00		164,757.45		08-Nov-2004		5.990%		CA - 90.00%		Paid Off - 360		06/01/2004
79206645 1			213,750.00		213,515.07		08-Sep-2004		8.990%		CO - 95.00%		Paid Off - 360		01-Jul-2004
77939700 1			135,000.00		134,662.52		22-Oct-2004		8.400%		IL - 90.00%		Paid Off - 360		07/01/2004
79249827 1			97,000.00		96,698.46		02-Sep-2004		6.550%		ME - 62.58%		Paid Off - 360		01-Jul-2004
77962181 1			171,003.00		170,529.15		10-Nov-2004		8.450%		GA - 83.83%		Paid Off - 360		07/01/2004
79294625 1			120,000.00		119,887.57		08-Sep-2004		9.750%		IL - 80.00%		Paid Off - 360		01-Jul-2004
77982668 1			240,000.00		239,381.50		21-Oct-2004		8.250%		MD - 87.27%		Paid Off - 360		07/01/2004
79320362 1			70,400.00		70,314.79		02-Sep-2004		8.750%		FL - 80.00%		Paid Off - 360		01-Jul-2004
77982742 1			120,650.00		120,273.80		14-Oct-2004		7.300%		MD - 95.00%		Paid Off - 360		07/01/2004
79328068 1			100,000.00		98,988.55		09-Sep-2004		9.450%		MA - 36.76%		Paid Off - 120		01-Jul-2004
77991404 1			213,000.00		212,294.09		02-Nov-2004		6.990%		GA - 58.36%		Paid Off - 360		07/01/2004
79384368 1			270,000.00		269,555.19		08-Sep-2004		6.990%		MN - 90.00%		Paid Off - 360		01-Jul-2004
78000205 1			193,500.00		192,884.66		25-Oct-2004		7.200%		HI - 54.20%		Paid Off - 360		07/01/2004
79403044 1			186,000.00		185,773.84		02-Sep-2004		8.500%		CA - 60.00%		Paid Off - 360		01-Jul-2004
78016607 1			240,000.00		238,922.04		26-Oct-2004		5.400%		MA - 80.00%		Paid Off - 360		07/01/2004
79416129 1			110,750.00		110,637.12		16-Aug-2004		9.350%		WI - 83.90%		Paid Off - 360		01-Jul-2004
78017100 1			230,500.00		229,521.24		20-Oct-2004		5.700%		CA - 86.98%		Paid Off - 360		07/01/2004
79435947 2			196,000.00		195,766.52		10-Sep-2004		8.600%		FL - 83.40%		Paid Off - 360		01-Jul-2004
78025103 1			113,500.00		113,347.78		29-Oct-2004		9.990%		CO - 50.00%		Paid Off - 360		08/01/2004
79438388 1			126,000.00		125,778.13		24-Aug-2004		6.650%		CA - 70.91%		Paid Off - 360		01-Jul-2004
78040946 1			196,000.00		195,319.25		28-Oct-2004		6.750%		CA - 81.67%		Paid Off - 360		07/01/2004
79441366 1			205,000.00		204,685.49		03-Sep-2004		7.350%		CA - 82.00%		Paid Off - 360		01-Jul-2004
78056066 1			101,000.00		100,717.80		02-Nov-2004		7.850%		MA - 28.45%		Paid Off - 360		07/01/2004
79500948 1			240,000.00		239,835.40		17-Aug-2004		11.200%		ME - 80.00%		Paid Off - 360		01-Jul-2004
78056686 1			165,000.00		164,437.99		04-Nov-2004		6.850%		NY - 61.11%		Paid Off - 360		07/01/2004
79541066 2			387,000.00		386,263.67		10-Sep-2004		6.250%		CA - 90.00%		Paid Off - 360		01-Jul-2004
78082880 1			294,000.00		293,161.88		04-Nov-2004		7.750%		MD - 84.73%		Paid Off - 360		07/01/2004
79548624 1			165,000.00		164,728.17		31-Aug-2004		6.990%		ME - 82.50%		Paid Off - 360		01-Jul-2004
78129343 1			323,000.00		321,740.62		03-Nov-2004		6.150%		NY - 70.99%		Paid Off - 360		07/01/2004
Page 21 of 29
Page 21 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
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
79561361 1			80,000.00		79,914.07		31-Aug-2004		9.100%		IL - 51.61%		Paid Off - 360		01-Jul-2004
78169125 1			245,000.00		244,106.82		15-Oct-2004		6.500%		CA - 81.67%		Paid Off - 360		07/01/2004
79597027 1			180,500.00		180,179.06		26-Aug-2004		6.600%		MD - 86.39%		Paid Off - 360		01-Jul-2004
78169786 1			200,000.00		199,369.17		05-Nov-2004		7.450%		CA - 58.82%		Paid Off - 360		07/01/2004
79657128 1			83,000.00		82,914.49		30-Aug-2004		9.300%		GA - 55.33%		Paid Off - 360		01-Jul-2004
78175742 1			203,000.00		202,215.70		13-Oct-2004		8.650%		WI - 84.34%		Paid Off - 360		07/01/2004
79664587 1			303,000.00		302,570.90		26-Aug-2004		7.750%		CA - 87.83%		Paid Off - 360		01-Jul-2004
78205648 2			368,100.00		367,023.42		#######		7.700%		IL - 86.61%		Paid Off - 360		07/01/2004
79690723 1			120,000.00		119,891.09		31-Aug-2004		9.900%		NY - 83.92%		Paid Off - 360		01-Jul-2004
78216603 2			315,000.00		314,267.09		02-Nov-2004		8.750%		NY - 54.31%		Paid Off - 360		07/01/2004
79698569 1			105,000.00		104,865.46		01-Sep-2004		8.250%		MA - 21.00%		Paid Off - 360		01-Jul-2004
78227949 1			242,000.00		241,267.57		02-Nov-2004		7.450%		MA - 69.14%		Paid Off - 360		07/01/2004
79724928 1			107,100.00		107,041.73		11-Aug-2004		12.250%		FL - 85.00%		Paid Off - 360		01-Jul-2004
78267408 1			205,000.00		204,271.49		29-Oct-2004		7.550%		NV - 82.00%		Paid Off - 360		07/01/2004
79727889 2			400,002.00		399,180.46		27-Aug-2004		5.850%		CA - 80.00%		Paid Off - 360		01-Jul-2004
78268562 2			64,400.00		64,205.84		28-Oct-2004		8.750%		AZ - 68.51%		Paid Off - 360		07/01/2004
79735882 1			135,000.00		134,764.58		02-Sep-2004		6.700%		NY - 90.00%		Paid Off - 360		01-Jul-2004
78291549 1			150,000.00		149,572.41		10-Nov-2004		7.750%		ME - 75.00%		Paid Off - 360		07/01/2004
79774428 1			60,000.00		59,919.03		03-Sep-2004		7.990%		FL - 73.17%		Paid Off - 360		01-Jul-2004
78308269 1			215,000.00		214,323.02		05-Nov-2004		7.250%		NY - 49.43%		Paid Off - 360		07/01/2004
79774840 1			95,000.00		94,952.78		09-Sep-2004		9.450%		WI - 73.64%		Paid Off - 360		01-Aug-2004
78325743 2			237,017.00		236,184.59		27-Oct-2004		6.700%		CA - 90.00%		Paid Off - 360		07/01/2004
79782645 1			273,750.00		273,313.03		02-Sep-2004		7.150%		CA - 75.00%		Paid Off - 360		01-Jul-2004
78340064 1			60,000.00		59,473.82		05-Nov-2004		9.400%		WI - 63.16%		Paid Off - 360		07/01/2004
79825568 1			252,000.00		251,635.88		26-Aug-2004		7.650%		CA - 61.46%		Paid Off - 360		01-Jul-2004
78375920 1			238,000.00		237,374.40		29-Oct-2004		8.250%		CA - 89.81%		Paid Off - 360		07/01/2004
79836243 1			140,250.00		140,074.15		20-Aug-2004		8.350%		RI - 85.00%		Paid Off - 360		01-Jul-2004
78383742 1			79,000.00		78,785.38		09-Nov-2004		7.990%		WI - 75.24%		Paid Off - 360		07/01/2004
79842944 1			137,000.00		136,715.93		24-Aug-2004		5.800%		MI - 86.71%		Paid Off - 360		01-Jul-2004
78391547 1			65,000.00		64,823.41		09-Nov-2004		7.990%		WI - 72.22%		Paid Off - 360		07/01/2004
79889606 1			313,000.00		312,807.63		23-Aug-2004		11.700%		CA - 84.82%		Paid Off - 360		01-Jul-2004
78397700 1			145,800.00		145,509.69		04-Nov-2004		9.500%		IL - 90.00%		Paid Off - 360		07/01/2004
79912580 1			196,000.00		195,735.55		02-Sep-2004		7.990%		CA - 75.38%		Paid Off - 360		01-Jul-2004
78400983 2			264,500.00		263,535.75		02-Nov-2004		6.500%		NV - 79.67%		Paid Off - 360		07/01/2004
79925343 1			144,200.00		143,962.45		09-Sep-2004		6.990%		MD - 87.39%		Paid Off - 360		01-Jul-2004
78403920 1			288,800.00		287,639.12		09-Nov-2004		5.990%		ME - 69.59%		Paid Off - 360		07/01/2004
79972063 1			80,100.00		79,935.48		27-Aug-2004		5.850%		CA - 59.96%		Paid Off - 360		01-Jul-2004
78412905 2			599,999.00		597,733.55		15-Oct-2004		6.500%		CA - 75.95%		Paid Off - 360		07/01/2004
80020589 1			315,000.00		314,346.87		10-Sep-2004		5.800%		CA - 90.00%		Paid Off - 360		01-Jul-2004
78412988 2			187,000.00		186,560.41		18-Oct-2004		8.700%		NY - 70.83%		Paid Off - 360		07/01/2004
80048846 2			388,800.00		388,159.48		31-Aug-2004		6.990%		CA - 90.00%		Paid Off - 360		01-Jul-2004
78480100 2			192,000.00		191,121.45		12-Oct-2004		5.300%		MA - 74.13%		Paid Off - 360		07/01/2004
80179203 2			60,000.00		59,920.01		30-Aug-2004		8.050%		MD - 31.58%		Paid Off - 360		01-Jul-2004
78484805 1			328,500.00		327,381.09		01-Nov-2004		6.850%		NY - 87.60%		Paid Off - 360		07/01/2004
80219561 2			315,000.00		313,243.67		07-Sep-2004		6.250%		IL - 75.36%		Paid Off - 360		01-Jul-2004
78497286 2			77,650.00		77,540.09		14-Oct-2004		11.100%		PA - 74.66%		Paid Off - 360		07/01/2004
80292188 1			214,000.00		213,627.42		19-Aug-2004		6.950%		CA - 53.50%		Paid Off - 360		01-Jul-2004
78511185 1			261,000.00		260,093.49		04-Nov-2004		6.750%		CT - 90.00%		Paid Off - 360		07/01/2004
80341902 1			285,000.00		284,615.47		20-Aug-2004		7.990%		MN - 75.00%		Paid Off - 360		01-Jul-2004
78523024 1			192,000.00		191,286.40		29-Oct-2004		6.400%		CA - 80.00%		Paid Off - 360		07/01/2004
80388689 1			95,000.00		94,861.34		31-Aug-2004		7.600%		MO - 56.72%		Paid Off - 360		01-Jul-2004
78532629 2			167,000.00		166,304.12		26-Oct-2004		5.800%		IL - 86.53%		Paid Off - 360		07/01/2004
80389489 1			91,875.00		91,790.72		01-Sep-2004		9.850%		FL - 75.00%		Paid Off - 360		01-Jul-2004
78535226 1			75,000.00		74,829.06		03-Nov-2004		8.850%		MO - 75.00%		Paid Off - 360		07/01/2004
80428485 1			60,000.00		59,905.16		12-Aug-2004		7.500%		CA - 18.46%		Paid Off - 360		01-Jul-2004
78538907 1			191,000.00		190,310.39		30-Oct-2004		6.550%		CA - 65.86%		Paid Off - 360		07/01/2004
80448061 1			60,000.00		59,376.07		08-Sep-2004		12.650%		IN - 75.00%		Paid Off - 360		01-Jul-2004
78539426 1			96,000.00		95,269.67		15-Oct-2004		7.150%		FL - 60.00%		Paid Off - 240		07/01/2004
80587546 2			520,000.00		519,248.65		20-Aug-2004		7.650%		CA - 80.00%		Paid Off - 360		01-Jul-2004
78540242 1			276,250.00		275,499.60		15-Oct-2004		7.990%		CA - 84.48%		Paid Off - 360		07/01/2004
80607708 1			173,000.00		172,634.43		30-Aug-2004		5.700%		CA - 66.59%		Paid Off - 360		01-Jul-2004
78543527 1			255,000.00		254,189.09		28-Oct-2004		7.200%		CA - 73.28%		Paid Off - 360		07/01/2004
80612369 1			216,300.00		215,929.39		18-Aug-2004		6.900%		IL - 86.52%		Paid Off - 360		01-Jul-2004
78550902 1			78,000.00		77,827.27		29-Oct-2004		8.990%		FL - 60.00%		Paid Off - 360		07/01/2004
80646367 1			77,925.00		77,431.43		27-Aug-2004		6.990%		CO - 79.52%		Paid Off - 180		01-Jul-2004
78577004 2			205,000.00		204,373.39		29-Oct-2004		7.400%		CA - 82.00%		Paid Off - 360		07/01/2004
80683543 2			183,000.00		182,598.46		25-Aug-2004		5.500%		CA - 45.75%		Paid Off - 360		01-Jul-2004
78582269 1			249,300.00		248,297.43		29-Oct-2004		5.990%		CA - 90.65%		Paid Off - 360		07/01/2004
80717143 2			72,250.00		72,212.15		23-Aug-2004		9.200%		FL - 80.28%		Paid Off - 360		01-Aug-2004
78582764 1			111,500.00		111,051.79		15-Oct-2004		5.990%		CA - 76.90%		Paid Off - 360		07/01/2004
80788763 1			214,000.00		213,711.27		26-Aug-2004		7.990%		CA - 63.88%		Paid Off - 360		01-Jul-2004
78588324 2			812,500.00		809,022.01		28-Oct-2004		5.700%		MD - 65.00%		Paid Off - 360		07/01/2004
81049322 2			131,250.00		131,178.15		30-Aug-2004		8.990%		MD - 75.00%		Paid Off - 360		01-Aug-2004
78612900 1			144,000.00		143,681.12		26-Oct-2004		8.990%		RI - 60.00%		Paid Off - 360		07/01/2004
81126781 1			130,000.00		129,904.48		17-Aug-2004		7.550%		MD - 74.93%		Paid Off - 360		01-Aug-2004
78622545 1			255,000.00		254,154.92		22-Oct-2004		6.990%		CA - 75.00%		Paid Off - 360		07/01/2004
Page 22 of 29
Page 22 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
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
81260887 1			168,000.00		167,709.89		01-Sep-2004		6.750%		PA - 80.00%		Paid Off - 360		01-Jul-2004
78642469 1			206,000.00		205,589.09		30-Oct-2004		9.550%		NY - 77.74%		Paid Off - 360		07/01/2004
82384223 1			201,000.00		200,932.14		26-Aug-2004		11.250%		FL - 72.22%		Paid Off - 360		01-Aug-2004
78661964 1			238,000.00		236,714.16		26-Oct-2004		9.900%		NY - 83.51%		Paid Off - 240		07/01/2004
82709304 1			71,000.00		70,973.84		23-Aug-2004		10.850%		FL - 74.74%		Paid Off - 360		01-Aug-2004
78689569 1			126,000.00		125,685.03		02-Nov-2004		8.400%		IL - 89.36%		Paid Off - 360		07/01/2004
76540244 1			166,500.00		166,123.23		13-Aug-2004		7.450%		NE - 90.00%		Repur/Subs - 360		01-Jul-2004
78704707 2			244,700.00		243,736.78		01-Nov-2004		6.100%		IL - 73.37%		Paid Off - 360		07/01/2004
77214021 1			236,250.00		235,902.27		03-Sep-2004		9.550%		CA - 72.69%		Repur/Subs - 360		01-Jul-2004
78734704 1			75,000.00		74,853.78		02-Nov-2004		9.600%		IL - 75.00%		Paid Off - 360		07/01/2004
78013182 1			268,000.00		267,349.05		23-Aug-2004		7.100%		CA - 41.23%		Repur/Subs - 360		01-Jul-2004
78787801 1			61,500.00		61,368.26		10-Nov-2004		9.150%		MA - 16.33%		Paid Off - 360		07/01/2004
78478401 2			66,000.00		65,893.26		03-Sep-2004		9.100%		CA - 77.65%		Repur/Subs - 360		01-Jul-2004
78790201 2			296,250.00		295,660.13		19-Oct-2004		9.500%		CA - 75.00%		Paid Off - 360		07/01/2004
78491487 1			78,000.00		77,873.85		03-Sep-2004		9.100%		CA - 70.91%		Repur/Subs - 360		01-Jul-2004
78797966 1			195,300.00		193,832.08		05-Nov-2004		7.250%		CA - 39.86%		Paid Off - 240		07/01/2004
78830486 2			60,000.00		59,900.71		24-Aug-2004		8.990%		MO - 75.00%		Repur/Subs - 360		01-Jul-2004
78800489 2			345,000.00		343,934.93		05-Nov-2004		7.350%		NV - 89.84%		Paid Off - 360		07/01/2004
79067161 1			213,500.00		213,128.79		23-Aug-2004		8.750%		GA - 83.73%		Repur/Subs - 360		01-Jul-2004
78801982 1			200,000.00		199,406.60		29-Oct-2004		7.550%		MA - 70.67%		Paid Off - 360		07/01/2004
79440707 1			99,000.00		98,754.63		23-Aug-2004		6.990%		FL - 94.29%		Repur/Subs - 360		01-Jul-2004
78829546 1			97,500.00		97,324.90		02-Nov-2004		9.990%		TN - 75.00%		Paid Off - 360		07/01/2004
79526224 1			60,000.00		59,931.62		03-Sep-2004		10.750%		CO - 60.00%		Repur/Subs - 360		01-Jul-2004
78829744 1			273,750.00		272,842.76		21-Oct-2004		6.990%		CA - 75.00%		Paid Off - 360		07/01/2004
79533949 1			108,500.00		108,256.92		13-Aug-2004		7.500%		WA - 72.33%		Repur/Subs - 360		01-Jul-2004
78843125 1			65,000.00		64,767.56		26-Oct-2004		6.600%		CO - 77.84%		Paid Off - 360		07/01/2004
79661120 1			166,026.00		165,572.67		16-Aug-2004		6.500%		FL - 73.46%		Repur/Subs - 360		01-Jul-2004
78891702 1			172,000.00		171,458.38		09-Nov-2004		7.250%		RI - 68.80%		Paid Off - 360		07/01/2004
79823720 1			245,000.00		244,191.79		11-Aug-2004		5.500%		CA - 68.26%		Repur/Subs - 360		01-Jul-2004
78897428 1			94,900.00		94,689.85		20-Oct-2004		8.990%		FL - 47.45%		Paid Off - 360		07/01/2004
79834768 1			60,900.00		60,770.20		01-Sep-2004		7.750%		LA - 70.34%		Repur/Subs - 360		01-Jul-2004
78901147 2			346,000.00		344,750.74		20-Oct-2004		6.550%		CA - 89.18%		Paid Off - 360		07/01/2004
80045784 1			210,000.00		209,490.69		30-Aug-2004		7.100%		MN - 75.00%		Repur/Subs - 360		01-Jul-2004
78916889 1			284,000.00		282,805.37		20-Oct-2004		5.750%		CA - 86.06%		Paid Off - 360		07/01/2004
80283245 1			227,000.00		226,317.34		01-Sep-2004		5.990%		CA - 67.76%		Repur/Subs - 360		01-Jul-2004
78935087 1			330,000.00		328,611.86		01-Nov-2004		5.750%		CA - 50.77%		Paid Off - 360		07/01/2004
80291289 1			60,450.00		60,326.25		01-Sep-2004		7.950%		MO - 65.00%		Repur/Subs - 360		01-Jul-2004
78964426 2			242,250.00		241,847.09		10-Nov-2004		10.350%		WI - 85.00%		Paid Off - 360		07/01/2004
80313745 1			181,500.00		181,167.79		26-Aug-2004		8.500%		FL - 88.54%		Repur/Subs - 360		01-Jul-2004
78997020 1			101,700.00		101,066.28		21-Oct-2004		6.500%		MN - 69.94%		Paid Off - 360		07/01/2004
80358088 1			280,000.00		279,143.44		08-Sep-2004		5.900%		CA - 71.98%		Repur/Subs - 360		01-Jul-2004
79016341 2			307,500.00		306,480.90		02-Nov-2004		6.990%		MA - 71.51%		Paid Off - 360		07/01/2004
80443104 1			230,000.00		229,532.98		19-Aug-2004		7.990%		IL - 53.24%		Repur/Subs - 360		01-Jul-2004
79027280 1			127,800.00		127,397.56		03-Nov-2004		7.250%		CA - 90.00%		Paid Off - 360		07/01/2004
80746647 1			123,750.00		123,565.94		30-Aug-2004		9.500%		FL - 74.55%		Repur/Subs - 360		01-Jul-2004
79030664 1			208,250.00		207,997.15		26-Oct-2004		11.800%		MO - 85.00%		Paid Off - 360		07/01/2004
80826449 1			111,000.00		110,711.67		16-Aug-2004		6.750%		FL - 80.46%		Repur/Subs - 360		01-Jul-2004
79051108 1			119,000.00		118,716.74		13-Oct-2004		8.650%		UT - 85.00%		Paid Off - 360		07/01/2004
80858921 1			60,000.00		59,875.92		01-Sep-2004		7.900%		FL - 80.00%		Repur/Subs - 360		01-Jul-2004
79053047 1			97,500.00		97,259.91		27-Oct-2004		8.550%		NV - 75.00%		Paid Off - 360		07/01/2004
82473828 1			90,000.00		89,869.95		01-Sep-2004		7.650%		CA - 85.71%		Repur/Subs - 360		01-Aug-2004
79057741 1			162,342.00		161,906.29		04-Nov-2004		8.050%		MD - 81.17%		Paid Off - 360		07/01/2004
TOTAL			25,567,927.00		25,511,464.80
79062907 1			143,912.00		143,458.83		14-Oct-2004		7.250%		AZ - 84.65%		Paid Off - 360		07/01/2004
Page 23 of 29
79068680 1			185,000.00		184,428.89		02-Nov-2004		7.350%		MD - 69.81%		Paid Off - 360		07/01/2004
79074126 1			100,000.00		99,672.44		26-Oct-2004		7.050%		CA - 30.53%		Paid Off - 360		07/01/2004
79098141 2			311,500.00		310,247.87		10-Nov-2004		5.990%		CA - 75.42%		Paid Off - 360		07/01/2004
79101028 2			496,000.00		494,586.07		10-Nov-2004		7.750%		WA - 80.00%		Paid Off - 360		07/01/2004
79101309 1			153,000.00		152,508.61		03-Nov-2004		7.150%		CA - 89.63%		Paid Off - 360		07/01/2004
79113106 1			208,000.00		207,298.41		22-Oct-2004		6.900%		FL - 62.09%		Paid Off - 360		07/01/2004
79126983 1			75,600.00		74,725.00		12-Oct-2004		8.100%		MI - 90.00%		Paid Off - 180		07/01/2004
79167409 2			298,500.00		297,358.19		03-Nov-2004		6.250%		FL - 89.10%		Paid Off - 360		07/01/2004
79190484 1			279,000.00		277,992.64		25-Oct-2004		6.550%		CA - 78.59%		Paid Off - 360		07/01/2004
79193983 1			102,000.00		101,605.09		02-Nov-2004		6.200%		MD - 89.22%		Paid Off - 360		07/01/2004
79197661 1			238,000.00		237,098.30		21-Oct-2004		6.300%		CA - 89.81%		Paid Off - 360		07/01/2004
Page 23 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
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
79211207 1			331,000.00		329,957.72		02-Nov-2004		7.250%		CA - 89.46%		Paid Off - 360		07/01/2004
79211660 2			540,000.00		537,934.41		03-Nov-2004		6.250%		CA - 77.14%		Paid Off - 360		07/01/2004
79212684 2			95,000.00		94,785.68		20-Oct-2004		8.900%		IL - 62.50%		Paid Off - 360		07/01/2004
79217287 1			268,800.00		268,114.25		25-Oct-2004		8.300%		NV - 84.00%		Paid Off - 360		07/01/2004
79227583 1			64,172.00		63,647.85		18-Oct-2004		5.750%		FL - 74.43%		Paid Off - 360		07/01/2004
79241402 1			90,000.00		89,719.37		02-Nov-2004		7.300%		CA - 52.85%		Paid Off - 360		07/01/2004
79258364 1			107,000.00		106,682.19		26-Oct-2004		7.550%		WI - 84.25%		Paid Off - 360		07/01/2004
79303905 1			164,000.00		163,413.55		01-Nov-2004		6.600%		CA - 68.33%		Paid Off - 360		07/01/2004
79338646 1			141,950.00		141,619.70		03-Nov-2004		8.750%		MD - 85.00%		Paid Off - 360		07/01/2004
79408225 1			61,000.00		60,859.51		21-Oct-2004		8.800%		PA - 45.52%		Paid Off - 360		07/01/2004
79413928 1			185,000.00		184,428.89		15-Oct-2004		7.350%		MA - 60.66%		Paid Off - 360		07/01/2004
79443180 1			285,000.00		283,950.93		04-Nov-2004		6.450%		NY - 83.82%		Paid Off - 360		07/01/2004
79444345 2			373,500.00		372,070.71		25-Oct-2004		6.250%		CA - 90.00%		Paid Off - 360		07/01/2004
79445086 1			92,700.00		92,499.35		12-Oct-2004		9.100%		CA - 61.80%		Paid Off - 360		07/01/2004
79466322 1			233,650.00		232,983.93		30-Oct-2004		7.750%		NY - 84.96%		Paid Off - 360		07/01/2004
79485066 1			140,250.00		139,877.41		22-Oct-2004		8.100%		CA - 87.66%		Paid Off - 360		07/01/2004
79485421 1			101,250.00		100,978.99		10-Nov-2004		8.100%		FL - 75.00%		Paid Off - 360		07/01/2004
79509246 1			138,500.00		138,018.97		20-Oct-2004		6.750%		CA - 55.11%		Paid Off - 360		07/01/2004
79515920 1			293,250.00		292,312.90		30-Oct-2004		7.600%		MA - 85.00%		Paid Off - 360		07/01/2004
79517140 1			270,000.00		269,105.18		21-Oct-2004		6.990%		CA - 80.60%		Paid Off - 360		07/01/2004
79517827 1			136,216.00		135,827.69		18-Oct-2004		7.750%		MA - 59.22%		Paid Off - 360		07/01/2004
79527701 1			78,000.00		77,882.22		15-Oct-2004		10.800%		WI - 73.58%		Paid Off - 360		07/01/2004
79533683 1			257,448.00		256,842.81		26-Oct-2004		8.700%		WI - 88.93%		Paid Off - 360		07/01/2004
79541504 1			106,000.00		105,682.36		08-Nov-2004		7.500%		CA - 78.52%		Paid Off - 360		07/01/2004
79556387 2			227,375.00		226,620.62		28-Oct-2004		6.990%		MD - 85.00%		Paid Off - 360		07/01/2004
79558524 1			198,000.00		197,332.15		29-Oct-2004		6.900%		PA - 51.43%		Paid Off - 360		07/01/2004
79563441 1			182,750.00		182,143.94		13-Oct-2004		6.990%		CA - 82.51%		Paid Off - 360		07/01/2004
79566584 2			103,500.00		103,122.66		10-Nov-2004		6.500%		FL - 83.47%		Paid Off - 360		07/01/2004
79567202 1			156,001.00		155,615.02		02-Nov-2004		8.450%		IL - 75.00%		Paid Off - 360		07/01/2004
79577862 1			155,000.00		154,418.37		10-Nov-2004		6.350%		CA - 81.58%		Paid Off - 360		07/01/2004
79588448 1			161,652.00		161,062.66		15-Oct-2004		6.500%		CA - 76.04%		Paid Off - 360		07/01/2004
79599684 1			111,000.00		110,716.81		05-Nov-2004		8.300%		MN - 74.00%		Paid Off - 360		07/01/2004
79600102 1			222,150.00		221,355.62		04-Nov-2004		6.600%		FL - 63.47%		Paid Off - 360		07/01/2004
79609640 1			260,000.00		259,309.24		02-Nov-2004		8.100%		NY - 65.82%		Paid Off - 360		07/01/2004
79621769 2			160,000.00		159,240.36		19-Oct-2004		7.100%		CA - 39.51%		Paid Off - 360		07/01/2004
79636387 1			131,000.00		130,498.90		21-Oct-2004		6.250%		NV - 81.37%		Paid Off - 360		07/01/2004
79642906 1			158,000.00		157,492.56		18-Oct-2004		7.150%		CA - 69.30%		Paid Off - 360		07/01/2004
79666509 2			350,000.00		349,116.18		25-Oct-2004		8.350%		NY - 74.47%		Paid Off - 360		07/01/2004
Page 24 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
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
79669909 1			375,000.00		373,783.78		03-Nov-2004		7.100%		CA - 39.47%		Paid Off - 360		07/01/2004
79677944 1			240,000.00		239,280.82		22-Oct-2004		7.500%		MD - 93.02%		Paid Off - 360		07/01/2004
79691887 1			60,000.00		59,206.26		18-Oct-2004		6.550%		WI - 60.00%		Paid Off - 180		07/01/2004
79694824 1			323,000.00		322,284.80		02-Nov-2004		8.990%		NY - 85.00%		Paid Off - 360		07/01/2004
79711420 2			408,000.00		406,891.70		27-Oct-2004		7.990%		CA - 85.00%		Paid Off - 360		07/01/2004
79741401 1			60,000.00		59,816.59		29-Oct-2004		7.400%		TN - 60.00%		Paid Off - 360		07/01/2004
79773149 2			600,000.00		598,603.98		21-Oct-2004		8.750%		IL - 79.47%		Paid Off - 360		07/01/2004
79773545 1			60,160.00		60,020.87		12-Oct-2004		8.800%		FL - 63.33%		Paid Off - 360		07/01/2004
79775045 1			171,000.00		170,602.15		21-Oct-2004		8.750%		CA - 60.00%		Paid Off - 360		07/01/2004
79794269 1			115,500.00		115,153.88		29-Oct-2004		7.500%		DE - 75.00%		Paid Off - 360		07/01/2004
79803904 2			270,000.00		269,679.32		30-Oct-2004		11.900%		CA - 87.10%		Paid Off - 360		07/01/2004
79816922 1			224,000.00		223,422.72		27-Oct-2004		8.250%		WA - 80.00%		Paid Off - 360		07/01/2004
79825162 1			268,000.00		266,818.52		20-Oct-2004		5.500%		CA - 70.53%		Paid Off - 360		07/01/2004
79830188 1			140,249.00		139,761.87		29-Oct-2004		6.750%		WI - 82.50%		Paid Off - 360		07/01/2004
79840708 2			105,000.00		104,652.00		04-Nov-2004		6.990%		FL - 86.07%		Paid Off - 360		07/01/2004
79873824 1			169,000.00		168,377.91		22-Oct-2004		6.450%		FL - 68.98%		Paid Off - 360		07/01/2004
79877684 1			150,000.00		148,831.67		18-Oct-2004		7.150%		CA - 50.00%		Paid Off - 240		07/01/2004
79893608 1			135,000.00		134,698.59		12-Oct-2004		8.950%		CT - 79.41%		Paid Off - 360		07/01/2004
79894267 2			337,500.00		336,281.46		09-Nov-2004		6.550%		CA - 90.00%		Paid Off - 360		07/01/2004
79903225 1			88,400.00		88,179.01		30-Oct-2004		8.400%		IL - 85.00%		Paid Off - 360		07/01/2004
79904280 2			265,000.00		264,024.55		04-Nov-2004		6.450%		MA - 84.13%		Paid Off - 360		07/01/2004
79905881 2			580,000.00		577,695.07		26-Oct-2004		6.050%		NV - 83.82%		Paid Off - 360		07/01/2004
79931325 1			73,600.00		71,902.52		29-Oct-2004		7.200%		TX - 70.10%		Paid Off - 120		07/01/2004
79978847 1			160,000.00		159,660.83		29-Oct-2004		9.200%		NY - 22.22%		Paid Off - 360		07/01/2004
79992806 1			190,000.00		189,280.15		27-Oct-2004		6.300%		CT - 48.10%		Paid Off - 360		07/01/2004
80000508 1			133,500.00		132,927.78		04-Nov-2004		5.650%		CA - 41.97%		Paid Off - 360		07/01/2004
80013220 1			153,000.00		152,442.21		14-Oct-2004		6.500%		CA - 87.43%		Paid Off - 360		07/01/2004
80027360 2			376,029.00		374,590.63		18-Oct-2004		6.250%		CA - 72.04%		Paid Off - 360		07/01/2004
80031529 2			122,300.00		121,914.88		19-Oct-2004		7.250%		FL - 78.90%		Paid Off - 360		07/01/2004
80034002 1			217,000.00		216,356.16		19-Oct-2004		7.550%		CA - 62.90%		Paid Off - 360		07/01/2004
80046063 1			122,000.00		121,634.38		20-Oct-2004		7.500%		IL - 54.22%		Paid Off - 360		07/01/2004
80057623 2			135,000.00		134,483.60		01-Nov-2004		6.250%		AZ - 93.10%		Paid Off - 360		07/01/2004
80065865 1			64,000.00		63,862.88		25-Oct-2004		9.150%		WI - 49.23%		Paid Off - 360		07/01/2004
80077662 2			416,500.00		415,188.51		02-Nov-2004		7.250%		CA - 85.00%		Paid Off - 360		07/01/2004
80078660 1			83,790.00		83,475.55		08-Nov-2004		6.350%		MI - 90.00%		Paid Off - 360		07/01/2004
80091366 1			232,500.00		231,803.29		21-Oct-2004		7.500%		IL - 75.00%		Paid Off - 360		07/01/2004
80118326 1			132,000.00		131,559.07		10-Nov-2004		6.950%		CA - 86.40%		Paid Off - 360		07/01/2004
80120421 1			225,000.00		224,513.02		28-Oct-2004		9.100%		NY - 75.00%		Paid Off - 360		07/01/2004
Page 25 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
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
80136245 1			90,100.00		89,766.74		21-Oct-2004		6.500%		CO - 62.14%		Paid Off - 360		07/01/2004
80139108 1			180,000.00		179,589.73		08-Nov-2004		8.850%		MN - 90.00%		Paid Off - 360		07/01/2004
80147846 1			100,000.00		99,597.49		09-Nov-2004		5.990%		MD - 54.86%		Paid Off - 360		07/01/2004
80149180 1			81,000.00		80,846.98		26-Oct-2004		9.750%		MI - 60.00%		Paid Off - 360		07/01/2004
80151343 1			156,500.00		156,108.79		03-Nov-2004		8.400%		CA - 48.91%		Paid Off - 360		07/01/2004
80160385 1			212,000.00		211,099.81		30-Oct-2004		5.700%		MD - 83.35%		Paid Off - 360		07/01/2004
80166887 1			108,000.00		107,740.83		03-Nov-2004		8.600%		MN - 65.45%		Paid Off - 360		07/01/2004
80172364 1			155,000.00		154,472.02		30-Oct-2004		6.850%		CA - 79.49%		Paid Off - 360		07/01/2004
80175664 1			280,000.00		278,998.77		04-Nov-2004		6.600%		NY - 74.67%		Paid Off - 360		07/01/2004
80189624 1			138,000.00		137,542.63		08-Nov-2004		6.990%		PA - 74.59%		Paid Off - 360		07/01/2004
80189848 1			276,000.00		275,130.92		01-Nov-2004		7.250%		CA - 73.60%		Paid Off - 360		07/01/2004
80193949 1			60,000.00		59,891.34		22-Oct-2004		9.950%		MN - 60.00%		Paid Off - 360		07/01/2004
80213820 1			60,000.00		59,636.14		30-Oct-2004		8.990%		PA - 60.00%		Paid Off - 240		07/01/2004
80214182 1			312,000.00		311,101.64		29-Oct-2004		7.700%		MD - 82.11%		Paid Off - 360		07/01/2004
80219348 1			247,500.00		246,743.43		19-Oct-2004		7.400%		CA - 75.00%		Paid Off - 360		07/01/2004
80232762 2			188,000.00		187,376.95		02-Nov-2004		6.990%		CA - 78.33%		Paid Off - 360		07/01/2004
80247620 1			255,000.00		253,955.31		08-Nov-2004		5.900%		CA - 71.23%		Paid Off - 360		07/01/2004
80250608 1			180,000.00		179,593.96		22-Oct-2004		8.900%		CA - 78.26%		Paid Off - 360		07/01/2004
80306525 1			249,999.00		249,170.46		05-Nov-2004		6.990%		NY - 58.82%		Paid Off - 360		07/01/2004
80319841 2			321,000.00		319,806.98		03-Nov-2004		6.400%		MA - 87.23%		Paid Off - 360		07/01/2004
80320807 1			289,000.00		288,465.45		28-Oct-2004		9.850%		WA - 80.28%		Paid Off - 360		07/01/2004
80329626 2			232,500.00		231,827.78		14-Oct-2004		7.750%		CA - 73.81%		Paid Off - 360		07/01/2004
80337108 2			352,000.00		350,716.77		28-Oct-2004		6.500%		MD - 82.82%		Paid Off - 360		07/01/2004
80339724 1			106,250.00		105,972.55		20-Oct-2004		8.250%		OK - 85.00%		Paid Off - 360		07/01/2004
80344401 2			342,000.00		340,866.58		26-Oct-2004		6.990%		CA - 87.69%		Paid Off - 360		07/01/2004
80354723 1			145,758.00		145,342.49		10-Nov-2004		7.750%		NV - 69.41%		Paid Off - 360		07/01/2004
80370208 1			153,000.00		152,601.39		14-Oct-2004		8.500%		FL - 76.50%		Paid Off - 360		07/01/2004
80374226 1			79,734.00		79,563.19		01-Nov-2004		9.150%		WI - 65.36%		Paid Off - 360		07/01/2004
80378540 1			324,000.00		322,926.22		02-Nov-2004		6.990%		CA - 81.00%		Paid Off - 360		07/01/2004
80384829 1			174,900.00		174,320.37		11-Oct-2004		6.990%		CA - 60.31%		Paid Off - 360		07/01/2004
80385529 1			263,700.00		263,054.15		19-Oct-2004		8.500%		IL - 90.00%		Paid Off - 360		07/01/2004
80402365 1			66,777.00		66,402.13		18-Oct-2004		9.600%		LA - 64.21%		Paid Off - 240		07/01/2004
80411226 1			121,600.00		121,286.59		12-Oct-2004		8.250%		IA - 95.00%		Paid Off - 360		07/01/2004
80412968 1			112,000.00		110,691.17		18-Oct-2004		7.990%		GA - 89.60%		Paid Off - 180		07/01/2004
80416944 1			97,500.00		97,261.18		30-Oct-2004		8.500%		NY - 60.94%		Paid Off - 360		07/01/2004
80420409 1			126,000.00		125,741.11		26-Oct-2004		9.350%		MD - 68.11%		Paid Off - 360		07/01/2004
80422181 2			362,690.00		361,547.94		08-Nov-2004		7.250%		CA - 90.00%		Paid Off - 360		07/01/2004
80428121 2			495,000.00		493,051.48		05-Nov-2004		6.100%		CA - 89.67%		Paid Off - 360		07/01/2004
Page 26 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
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
80429848 1			103,000.00		102,752.83		26-Oct-2004		8.600%		CT - 62.42%		Paid Off - 360		07/01/2004
80442429 1			192,000.00		191,313.44		20-Oct-2004		6.600%		CA - 58.18%		Paid Off - 360		07/01/2004
80453749 2			350,250.00		348,935.68		04-Nov-2004		6.350%		CA - 72.97%		Paid Off - 360		07/01/2004
80512163 2			161,250.00		160,785.48		02-Nov-2004		7.750%		CA - 75.00%		Paid Off - 360		07/01/2004
80546641 1			270,000.00		269,062.24		02-Nov-2004		6.750%		CA - 75.00%		Paid Off - 360		07/01/2004
80555667 2			343,000.00		341,784.84		02-Nov-2004		6.650%		MD - 93.97%		Paid Off - 360		07/01/2004
80557341 1			131,000.00		130,558.13		25-Oct-2004		6.900%		MD - 86.18%		Paid Off - 360		07/01/2004
80569882 1			86,700.00		86,516.18		27-Oct-2004		9.200%		KS - 85.00%		Paid Off - 360		07/01/2004
80587686 2			475,000.00		473,234.63		13-Oct-2004		6.400%		CA - 62.50%		Paid Off - 360		07/01/2004
80604283 1			249,900.00		248,988.97		14-Oct-2004		6.500%		GA - 87.16%		Paid Off - 360		07/01/2004
80605421 1			231,000.00		230,181.97		20-Oct-2004		6.650%		CA - 53.72%		Paid Off - 360		07/01/2004
80620164 1			72,000.00		71,853.61		02-Nov-2004		9.400%		AL - 90.00%		Paid Off - 360		07/01/2004
80630502 1			192,600.00		191,373.99		08-Nov-2004		6.350%		GA - 64.20%		Paid Off - 360		07/01/2004
80633688 1			180,000.00		179,410.43		22-Oct-2004		7.050%		CA - 90.00%		Paid Off - 360		07/01/2004
80710346 1			103,000.00		102,720.22		12-Oct-2004		7.990%		NY - 58.86%		Paid Off - 360		07/01/2004
80734981 1			122,500.00		122,044.71		03-Nov-2004		6.400%		CA - 71.85%		Paid Off - 360		07/01/2004
80762743 1			130,000.00		129,727.27		13-Oct-2004		9.250%		CA - 26.00%		Paid Off - 360		07/01/2004
80771884 1			116,480.00		116,063.50		26-Oct-2004		6.600%		CA - 80.00%		Paid Off - 360		07/01/2004
80774847 1			101,766.00		101,519.27		01-Nov-2004		8.550%		WI - 63.60%		Paid Off - 360		07/01/2004
80776008 1			243,000.00		242,193.88		29-Oct-2004		6.990%		MN - 90.00%		Paid Off - 360		07/01/2004
80778723 1			152,000.00		151,557.91		08-Nov-2004		7.650%		NY - 73.08%		Paid Off - 360		07/01/2004
80784085 1			135,000.00		134,493.42		25-Oct-2004		6.350%		MD - 90.00%		Paid Off - 360		07/01/2004
80789340 2			350,000.00		348,648.30		05-Nov-2004		6.200%		CA - 83.33%		Paid Off - 360		07/01/2004
80885700 2			70,000.00		69,788.13		01-Nov-2004		7.450%		FL - 33.98%		Paid Off - 360		07/01/2004
80896483 1			180,000.00		179,311.45		09-Nov-2004		6.250%		RI - 88.64%		Paid Off - 360		07/01/2004
80900368 1			127,000.00		126,477.84		29-Oct-2004		6.250%		TN - 81.94%		Paid Off - 360		07/01/2004
80907645 2			265,798.00		264,961.02		14-Oct-2004		7.250%		MA - 29.83%		Paid Off - 360		07/01/2004
80907769 1			170,000.00		169,475.16		11-Oct-2004		7.350%		CA - 67.73%		Paid Off - 360		07/01/2004
80914468 1			246,000.00		245,111.76		02-Nov-2004		6.550%		CA - 72.35%		Paid Off - 360		07/01/2004
80932528 1			75,000.00		74,876.60		30-Oct-2004		9.050%		CA - 57.69%		Paid Off - 360		08/01/2004
80967029 1			145,000.00		144,640.63		09-Nov-2004		6.990%		WA - 84.28%		Paid Off - 360		08/01/2004
80981681 1			157,000.00		156,438.58		02-Nov-2004		6.600%		CA - 87.22%		Paid Off - 360		07/01/2004
80990823 2			378,750.00		377,408.73		10-Nov-2004		6.650%		CA - 72.14%		Paid Off - 360		07/01/2004
80995186 1			265,050.00		264,255.76		18-Oct-2004		7.500%		GA - 93.99%		Paid Off - 360		07/01/2004
81007403 1			108,750.00		108,544.53		30-Oct-2004		9.750%		IL - 74.49%		Paid Off - 360		07/01/2004
81021404 1			328,000.00		326,553.86		13-Oct-2004		5.500%		CA - 86.32%		Paid Off - 360		07/01/2004
81081663 2			599,999.00		598,010.56		29-Oct-2004		6.990%		CA - 76.43%		Paid Off - 360		07/01/2004
81083586 2			599,999.00		597,507.60		02-Nov-2004		6.700%		CA - 80.00%		Paid Off - 360		07/01/2004
Page 27 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
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
81097768 1			315,000.00		314,204.53		13-Oct-2004		8.350%		CA - 60.00%		Paid Off - 360		07/01/2004
81109803 2			344,000.00		342,769.94		18-Oct-2004		6.600%		CA - 68.80%		Paid Off - 360		07/01/2004
81119265 2			500,000.00		498,441.08		18-Oct-2004		7.300%		CA - 79.37%		Paid Off - 360		07/01/2004
81128241 2			62,000.00		61,537.08		18-Oct-2004		9.750%		WI - 68.89%		Paid Off - 180		08/01/2004
81198947 2			110,000.00		109,776.63		01-Nov-2004		7.990%		RI - 59.46%		Paid Off - 360		08/01/2004
81500100 1			200,000.00		199,475.41		10-Nov-2004		6.700%		CA - 75.64%		Paid Off - 360		08/01/2004
81559627 2			348,500.00		348,085.34		28-Oct-2004		10.550%		FL - 85.00%		Paid Off - 360		08/01/2004
81682288 2			360,000.00		359,009.49		22-Oct-2004		6.500%		MD - 90.00%		Paid Off - 360		08/01/2004
81774085 1			260,000.00		259,644.58		27-Oct-2004		9.900%		MA - 64.04%		Paid Off - 360		08/01/2004
82834888 1			80,250.00		80,103.10		27-Oct-2004		8.500%		PA - 75.00%		Paid Off - 360		08/01/2004
82982067 1			263,725.00		262,925.78		10-Nov-2004		5.950%		MD - 90.00%		Paid Off - 360		08/01/2004
83087049 2			107,300.00		107,131.42		01-Nov-2004		9.990%		IL - 75.56%		Paid Off - 360		08/01/2004
83319004 2			366,287.00		365,504.49		21-Oct-2004		7.950%		MA - 61.05%		Paid Off - 360		08/01/2004
83759241 1			197,000.00		196,492.53		08-Nov-2004		6.800%		CA - 89.26%		Paid Off - 360		08/01/2004
78530144 2			117,300.00		116,974.12		01-Nov-2004		8.990%		GA - 85.00%		Repur/Subs - 360		07/01/2004
80046444 1			234,000.00		232,981.11		28-Oct-2004		6.750%		NY - 90.00%		Repur/Subs - 360		07/01/2004
82328949 1			86,616.00		86,380.70		25-Oct-2004		7.990%		CA - 90.00%		Repur/Subs - 360		08/01/2004
TOTAL			64,896,856.00		64,584,899.28
Page 28 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 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
Page 24 of 29
Page 29 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 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 25 of 29
Page 30 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 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 26 of 29
Page 31 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Realized Loss Detail Report
Loan Number			~~Original~~Current		~~Prior~~State &			~~Current~~Prior		~~State &~~Realized				Cumulative
													First
&		Loan	Note		LTV at	Original		Principal		Loss/(Gain)		Realized		Realized
&			Principal		Principal	Realized		Note		LTV at		Original		Payment
Loan Group		Status	Rate		Origination	Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group			Balance		Balance	Loss/(Gain)		Rate		Origination		Term		Date
SPACE INTENTIONALLY LEFT BLANK
TOTAL
Page 27 of 29
Page 32 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
									Group 2		Group 1		Total
Does a Trigger Event Exist? (0=No,1=Yes)													0
Has a Stepdown Date Occurred? (0=No,1=Yes)													0
Balances 60+ days includes REO, Bankruptcy and Foreclosure													31,639,725.32
Delinquency Percentage													1.4200%
Balance of Mezzanine and C Class													322,799,975.48
Ending Balance													2,235,209,309.93
Credit Enhancement Percentage													14.4400%
ADJUSTABLE RATE CERTIFICATE INFORMATION
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Current LIBOR Rate													1.~~615000~~932500%
Next LIBOR Rate													10.~~840000~~000000%
Page 28 of 29
Page 33 of 34
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
REMIC 2004-R7
2004-R7
September 27, 2004 Distribution
November 26, 2004 Distribution
Additional Certificate Report
ADDITIONAL CERTIFICATE REPORT
									Next Pass Through Rate			NET WAC Shortfall CarryOver		NET WAC Shortfall Paid
CLASS
			A-1						20.0521%			$0.00		$0.00
			A-2						10.9814%			$0.00		$0.00
			A-3						20.1127%			$0.00		$0.00
			A-4						20.2945%			$0.00		$0.00
			A-5						20.2945%			$0.00		$0.00
			A-6						20.2945%			$0.00		$0.00
			M-1						31.2440%			$0.00		$0.00
			M-2						31.7490%			$0.00		$0.00
			M-3						32.9915%			$0.00		$0.00
			M-4						53.3450%			$0.00		$0.00
			M-5						42.3450%			$0.00		$0.00
			M-6						42.3450%			$0.00		$0.00
			M-7						42.3450%			$0.00		$0.00
			M-8						42.3450%			$0.00		$0.00
			M-9						42.3450%			$0.00		$0.00
			M-10						42.3450%			$0.00		$0.00
			M-11						42.3450%			$0.00		$0.00
Page 29 of 29
Page 34 of 34

Filing Compare · AMERIQUEST MORTGAGE SECURITIES INC ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 2004-R7