

                                       UNITED STATES
                            SECURITIES AND EXCHANGE COMMISSION
                                 Washington, D.C. 20549

                                         FORM 8-K

                                     CURRENT REPORT
      Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

              Date of Report (Date of earliest event reported): December 27, 2004
                           (Date of earliest event reported)

         Ameriquest Mortgage Securities Inc (as Depositor under the Trust
      Agreement, dated as October 1, 2004, providing for the issuance of
          Asset-Backed Pass-Through Certificates, Series 2004-R10)
                 (Exact name of registrant as specified in charter)

                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-118137-03                          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) 541-9960

            (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):

[  ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
(17 CFR 240.14a-12(b))

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))


     Item 8.01  Other Events

     Attached hereto is a copy of the Monthly Remittance Statements to the
     Certificateholders which was derived from the monthly information
     submitted by the Master Servicer of the Trust to the Trustee.


     Item 9.01 Financial Statements and Exhibits

     (c) Exhibits:

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     December 27, 2004.

                                    Signatures

               Pursuant to the requirements of the Securities Exchange Act of
          1934, the Registrant has duly caused this report to be signed on its
          behalf by the undersigned, hereunto duly authorized.


                                  Deutsche Bank National Trust Company,
                                  in its capacity as Trustee under the
                                  Pooling and Servicing Agreement on
                                  behalf of Ameriquest Mortgage
                                  Securities Inc.,Registrant


          Date:  Dec 30, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          99.1 Monthly Remittance Statement to the Certificateholders
          dated as of December 27, 2004.



Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution

				External Parties					Table of Contents

												Page
				Seller								Page
				Seller					1. Certificate Payment Report					2
				Ameriquest Mortgage Corp					1. Certificate Payment Report					2
				Ameriquest Mortgage Corp					2. Collection Account Report					6
									2. Collection Account Report					6
									3. Credit Enhancement Report					8
									4. Collateral Report					9
				Certificate Insurer(s)					5. Delinquency Report					12
				Certificate Insurer(s)					5. Delinquency Report					12
									6. REO Report					15

									7. Foreclosure Report					16
									8. Prepayment Report					17
									9. Prepayment Detail Report					20
									9. Prepayment Detail Report					20
									10. Realized Loss Report					23
									11. Realized Loss Detail Report					26
				Servicer(s)					11. Realized Loss Detail Report					26
				Servicer(s)					12. Triggers and Adj. Cert. Report					27
				Ameriquest Mortgage Corp					12. Triggers and Adj. Cert. Report					27
				Ameriquest Mortgage Corp					13. Additional Certificate Report					28
									13. Additional Certificate Report					28


				Underwriter(s)
				Deutsche Bank


									Total Number of Pages					28
									Total Number of Pages

				Dates					Contacts

				Cut-Off Date:		October 01, 2004			Nicholas Gisler
				Close Date:		October 07, 2004			Administrator
				First Distribution Date:		November 26, 2004			(714) 247-6268
									Nicholas.Gisler@db.com
									Nicholas.Gisler@db.com
									Address:
									1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:		December 27, 2004
									Factor Information:			(800) 735-7777
				Record Date:		November 30, 2004			Factor Information:			(800) 735-7777
									Main Phone Number:			(714) 247-6000

						December 24, 2004
						December 24, 2004

									https://www.tss.db.com/invr






Page 1 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution
Certificate Payment Report
Current Period Distribution - REMIC III
					Prior											Current
	Class		Original		Principal					Total		Realized		Deferred		Principal
	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	FLT, STEP	$	1,128,240,000.00		1,117,413,433.54	2,415,164.98		12,530,378.92		14,945,543.90		0.00		0.00		1,104,883,054.62
A-1	FLT, STEP	$	1,128,240,000.00		1,117,413,433.54	2,415,164.98		12,530,378.92		14,945,543.90		0.00		0.00		1,104,883,054.62
A-2	FLT, STEP	$	28,830,000.00		26,914,366.95	54,464.21		2,278,012.61		2,332,476.82		0.00		0.00		24,636,354.34
A-3	FLT, STEP	$	90,350,000.00		90,350,000.00	196,837.51		0.00		196,837.51		0.00		0.00		90,350,000.00
A-4	FLT, STEP	$	5,820,000.00		5,820,000.00	13,782.08		0.00		13,782.08		0.00		0.00		5,820,000.00
A-5	FLT, STEP	$	156,910,000.00		154,505,344.14	341,928.91		2,859,543.68		3,201,472.59		0.00		0.00		151,645,800.46
M-1	MEZ, FLT, S	$	53,550,000.00		53,550,000.00	132,804.00		0.00		132,804.00		0.00		0.00		53,550,000.00
M-2	MEZ, FLT, S	$	45,900,000.00		45,900,000.00	115,808.25		0.00		115,808.25		0.00		0.00		45,900,000.00
M-3	MEZ, FLT, S	$	29,750,000.00		29,750,000.00	76,341.81		0.00		76,341.81		0.00		0.00		29,750,000.00
M-4	MEZ, FLT, S	$	21,250,000.00		21,250,000.00	60,019.44		0.00		60,019.44		0.00		0.00		21,250,000.00
M-5	MEZ, FLT, S	$	25,500,000.00		25,500,000.00	73,121.25		0.00		73,121.25		0.00		0.00		25,500,000.00
M-6	MEZ, FLT, S	$	21,250,000.00		21,250,000.00	64,960.07		0.00		64,960.07		0.00		0.00		21,250,000.00
M-7	MEZ, FLT, S	$	17,000,000.00		17,000,000.00	58,262.78		0.00		58,262.78		0.00		0.00		17,000,000.00
M-8	MEZ, FLT, S	$	15,300,000.00		15,300,000.00	55,071.50		0.00		55,071.50		0.00		0.00		15,300,000.00
M-9	MEZ, FLT, S	$	14,450,000.00		14,450,000.00	70,676.56		0.00		70,676.56		0.00		0.00		14,450,000.00
M-10	MEZ, FLT, S	$	17,000,000.00		17,000,000.00	68,510.00		0.00		68,510.00		0.00		0.00		17,000,000.00
CE	SUB	$	28,899,900.00		28,900,000.00	3,824,636.58		0.00		3,824,636.58		0.00		0.00		28,900,000.00
P	EXE	$	100.00		100.00	177,426.75		0.00		177,426.75		0.00		0.00		100.00
R	R	$	0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00
R-X	R	$	0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00


Total			1,700,000,000.00		1,684,853,244.63	7,799,816.68		17,667,935.21		25,467,751.89		0.00		0.00		1,667,185,309.42
Total





Page 2 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution

Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
								Orig. Principal		Prior							Current
								Orig. Principal		Prior							Current
	Period		Period					(with Notional)		Principal						Total	Principal
	Period		Period
Class	Starting		Ending		Method	Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

								(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1	11/26/04		12/26/04		A-Act/360	03072SVL6		1,128,240,000.00		990.404022		2.140648		11.106129		13.246777	979.297893
A-2	11/26/04		12/26/04		A-Act/360	03072SVM4		28,830,000.00		933.554178		1.889151		79.015352		80.904503	854.538826
A-3	11/26/04		12/26/04		A-Act/360	03072SVN2		90,350,000.00		1,000.000000		2.178611		0.000000		2.178611	1,000.000000
A-4	11/26/04		12/26/04		A-Act/360	03072SVP7		5,820,000.00		1,000.000000		2.368055		0.000000		2.368055	1,000.000000
A-5	11/26/04		12/26/04		A-Act/360	03072SVQ5		156,910,000.00		984.674936		2.179140		18.224101		20.403241	966.450835
M-1	11/26/04		12/26/04		A-Act/360	03072SVR3		53,550,000.00		1,000.000000		2.480000		0.000000		2.480000	1,000.000000
M-2	11/26/04		12/26/04		A-Act/360	03072SVS1		45,900,000.00		1,000.000000		2.523056		0.000000		2.523056	1,000.000000
M-3	11/26/04		12/26/04		A-Act/360	03072SVT9		29,750,000.00		1,000.000000		2.566111		0.000000		2.566111	1,000.000000
M-4	11/26/04		12/26/04		A-Act/360	03072SVU6		21,250,000.00		1,000.000000		2.824444		0.000000		2.824444	1,000.000000
M-5	11/26/04		12/26/04		A-Act/360	03072SVV4		25,500,000.00		1,000.000000		2.867500		0.000000		2.867500	1,000.000000
M-6	11/26/04		12/26/04		A-Act/360	03072SVW2		21,250,000.00		1,000.000000		3.056944		0.000000		3.056944	1,000.000000
M-7	11/26/04		12/26/04		A-Act/360	03072SVX0		17,000,000.00		1,000.000000		3.427222		0.000000		3.427222	1,000.000000
M-8	11/26/04		12/26/04		A-Act/360	03072SVY8		15,300,000.00		1,000.000000		3.599444		0.000000		3.599444	1,000.000000
M-9	11/26/04		12/26/04		A-Act/360	03072SVZ5		14,450,000.00		1,000.000000		4.891111		0.000000		4.891111	1,000.000000
M-10	11/26/04		12/26/04		A-Act/360	03072SWA9		17,000,000.00		1,000.000000		4.030000		0.000000		4.030000	1,000.000000
CE	11/01/04		11/30/04		A-30/360			28,899,900.00		1,000.003460		132.340824		0.000000		132.340824	1,000.003460
P	11/01/04		11/30/04			100.00		1,000.000000		1,774,267.500000		0.000000		1,774,267.500000		1,000.000000
R	11/01/04		11/30/04			0.00		0.000000		0.000000		0.000000		0.000000		0.000000
R-X	11/01/04		11/30/04			0.00		0.000000		0.000000		0.000000		0.000000		0.000000




Page 3 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution

Distribution to Date - REMIC III
																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	1,128,240,000.00		5,815,554.98		21,613,579.63	1,743,365.75		23,356,945.38		29,172,500.36		0.00		0.00		1,104,883,054.62
A-2	28,830,000.00		134,947.96		4,006,632.96	187,012.70		4,193,645.66		4,328,593.62		0.00		0.00		24,636,354.34
A-3	90,350,000.00		471,652.09		0.00	0.00		0.00		471,652.09		0.00		0.00		90,350,000.00
A-4	5,820,000.00		33,262.91		0.00	0.00		0.00		33,262.91		0.00		0.00		5,820,000.00
A-5	156,910,000.00		827,914.05		5,029,446.24	234,753.30		5,264,199.54		6,092,113.59		0.00		0.00		151,645,800.46
M-1	53,550,000.00		321,716.50		0.00	0.00		0.00		321,716.50		0.00		0.00		53,550,000.00
M-2	45,900,000.00		280,920.75		0.00	0.00		0.00		280,920.75		0.00		0.00		45,900,000.00
M-3	29,750,000.00		185,425.14		0.00	0.00		0.00		185,425.14		0.00		0.00		29,750,000.00
M-4	21,250,000.00		146,790.27		0.00	0.00		0.00		146,790.27		0.00		0.00		21,250,000.00
M-5	25,500,000.00		179,017.08		0.00	0.00		0.00		179,017.08		0.00		0.00		25,500,000.00
M-6	21,250,000.00		159,699.65		0.00	0.00		0.00		159,699.65		0.00		0.00		21,250,000.00
M-7	17,000,000.00		144,207.22		0.00	0.00		0.00		144,207.22		0.00		0.00		17,000,000.00
M-8	15,300,000.00		136,671.50		0.00	0.00		0.00		136,671.50		0.00		0.00		15,300,000.00
M-9	14,450,000.00		177,847.39		0.00	0.00		0.00		177,847.39		0.00		0.00		14,450,000.00
M-10	17,000,000.00		170,982.22		0.00	0.00		0.00		170,982.22		0.00		0.00		17,000,000.00
CE	28,899,900.00		6,127,667.27		0.00	0.00		0.00		6,127,667.27		0.00		100.00		28,900,000.00
P	100.00		355,495.33		0.00	0.00		0.00		355,495.33		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
R-X	0.00		0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00


Total	1,700,000,000.00		15,669,772.31		30,649,658.83	2,165,131.75		32,814,790.58		48,484,562.89		0.00		100.00		1,667,185,309.42



Page 4 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution

Interest Detail - REMIC III
	Pass		Prior Principal			Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal			Non-		Prior		Unscheduled				Paid or

	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	2.51000%		1,117,413,433.54		2,415,164.98	0.00		0.00		0.00		2,415,164.98		2,415,164.98		0.00
A-2	2.35000%		26,914,366.95		54,464.21	0.00		0.00		0.00		54,464.21		54,464.21		0.00
A-3	2.53000%		90,350,000.00		196,837.51	0.00		0.00		0.00		196,837.51		196,837.51		0.00
A-4	2.75000%		5,820,000.00		13,782.08	0.00		0.00		0.00		13,782.08		13,782.08		0.00
A-5	2.57000%		154,505,344.14		341,928.91	0.00		0.00		0.00		341,928.91		341,928.91		0.00
M-1	2.88000%		53,550,000.00		132,804.00	0.00		0.00		0.00		132,804.00		132,804.00		0.00
M-2	2.93000%		45,900,000.00		115,808.25	0.00		0.00		0.00		115,808.25		115,808.25		0.00
M-3	2.98000%		29,750,000.00		76,341.81	0.00		0.00		0.00		76,341.81		76,341.81		0.00
M-4	3.28000%		21,250,000.00		60,019.44	0.00		0.00		0.00		60,019.44		60,019.44		0.00
M-5	3.33000%		25,500,000.00		73,121.25	0.00		0.00		0.00		73,121.25		73,121.25		0.00
M-6	3.55000%		21,250,000.00		64,960.07	0.00		0.00		0.00		64,960.07		64,960.07		0.00
M-7	3.98000%		17,000,000.00		58,262.78	0.00		0.00		0.00		58,262.78		58,262.78		0.00
M-8	4.18000%		15,300,000.00		55,071.50	0.00		0.00		0.00		55,071.50		55,071.50		0.00
M-9	5.68000%		14,450,000.00		70,676.56	0.00		0.00		0.00		70,676.56		70,676.56		0.00
M-10	4.68000%		17,000,000.00		68,510.00	0.00		0.00		0.00		68,510.00		68,510.00		0.00
CE	158.80844%		28,900,000.00		0.00	0.00		0.00		0.00		0.00		3,824,636.58		0.00
P	0.00000%		100.00		0.00	0.00		0.00		0.00		0.00		177,426.75		0.00
R	0.00000%		0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00
R-X	0.00000%		0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00


Total			1,684,853,244.63		3,797,753.35	0.00		0.00		0.00		3,797,753.35		7,799,816.68		0.00



Page 5 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution
Collection Account Report
SUMMARY
SUMMARY
									Group 2		Group 1		Total
Principal Collections									5,137,556.29		12,530,378.92		17,667,935.21
Principal Withdrawals									0.00		0.00		0.00
Principal Other Accounts									0.00		0.00		0.00
TOTAL NET PRINCIPAL									5,137,556.29		12,530,378.92		17,667,935.21
Interest Collections									1,484,339.66		6,280,050.14		7,764,389.80
Interest Withdrawals									-0.00		-0.00		-0.00
Interest Fees									-17,095.24		-125,077.45		-142,172.69
Interest Other Accounts													177,426.75
TOTAL NET INTEREST									1,467,244.42		6,154,972.69		7,799,643.86
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION													25,467,579.07



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Principal Received										209,956.52		871,237.01		1,081,193.53
Curtailments										142,330.81		64,042.30		206,373.11
Prepayments In Full										4,785,268.96		11,448,345.65		16,233,614.61
Repurchased/Substitutions										0.00		146,753.96		146,753.96
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										-178,276.78		-679,299.27		-857,576.05
Realized Losses										-0.00		-0.00		-0.00
Advanced Principal										178,276.78		679,299.27		857,576.05
TOTAL PRINCIPAL COLLECTED										5,137,556.29		12,530,378.92		17,667,935.21


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
									Group 2		Group 1		Total
TOTAL PRINCIPAL OTHER ACCOUNTS									0.00		0.00		0.00





Page 6 of 28
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December 27, 2004 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
									Group 2		Group 1		Total
Scheduled Interest									1,574,078.89		6,621,335.55		8,195,414.44
Repurchased/Substitution Interest									0.00		1,160.23		1,160.23
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									-6,700.40		-14,381.37		-21,081.77
Delinquent Interest									-1,323,110.93		-5,308,835.04		-6,631,945.97
Compensating Interest									6,700.40		14,381.37		21,081.77
Civil Relief Act Shortfalls									-0.00		-0.00		-0.00
Interest Advanced									1,233,371.70		4,966,389.39		6,199,761.10
TOTAL INTEREST COLLECTED									1,484,339.66		6,280,050.14		7,764,389.80


INTEREST - WITHDRAWALS
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
INTEREST - OTHER ACCOUNTS
									Group 2		Group 1		Total
Prepayment Charges													177,426.75
Net WAC Investment Income													0.00
TOTAL INTEREST OTHER ACCOUNTS													177,426.75



INTEREST - FEES
INTEREST - FEES
									Group 2		Group 1		Total
Current Servicing Fees									16,745.73		86,424.79		103,170.52
Trustee Fees									349.51		1,405.55		1,755.06
TOTAL INTEREST FEES									17,095.24		125,077.45		142,172.69




Page 7 of 28
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December 27, 2004 Distribution
Credit Enhancement Report
ACCOUNTS


SPACE INTENTIONALLY LEFT BLANK





INSURANCE
INSURANCE
									Group 2		Group 1		Total
Certificate Insurance Policy Payment ( Class A-1)											37,247.11		37,247.11



STRUCTURAL FEATURES
STRUCTURAL FEATURES
									Group 2		Group 1		Total
Overcollateralized Amount													28,900,000.00
Overcollateralization Reduction Amount													0.00
Overcollateralization Deficiency Amount													0.00
Overcollateralization Target Amount													28,900,000.00

Class A Certificate Defiency Amount													0.00



Page 8 of 28
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December 27, 2004 Distribution
Collateral Report


COLLATERAL



										Group 2		Group 1		Total



*Loan Count:*


Original									757		7,158		7,915
Prior									747		7,098		7,845
Prefunding									0		0		0
Scheduled Paid Offs									-0		-0		-0
Full Voluntary Prepayments									-11		-68		-79
Repurchases									-0		-2		-2
Liquidations									-0		-0		-0
Current									736		7,028		7,764
*Principal Balance:*


Original									259,884,162.09		1,040,115,541.14		1,299,999,703.23
Prior									255,563,901.70		1,029,289,046.16		1,284,852,947.86
Prefunding									79,965,250.82		320,035,045.95		400,000,296.77
Scheduled Principal									-209,956.52		-871,237.01		-1,081,193.53
Partial Prepayments									-142,330.81		-64,042.30		-206,373.11
Full Voluntary Prepayments									-4,785,268.96		-11,448,345.65		-16,233,614.61
Repurchases									-0.00		-146,753.96		-146,753.96
Liquidations									-0.00		-0.00		-0.00
Current									330,391,596.23		1,336,793,713.19		1,667,185,309.42





PREFUNDING
PREFUNDING
									Group 2		Group 1		Total
Prefunding Account Original Balance									79,965,250.82		320,035,045.95		400,000,296.77
Prefunding Account Beginning Balance									79,965,250.82		320,035,045.95		400,000,296.77
Subsequent Loans Added to the Pool									0.00		0.00		0.00
Prefund Release to Certificate Holders									0.00		0.00		0.00
Prefunding Account Ending Balance									79,965,250.82		320,035,045.95		400,000,296.77





Page 9 of 28
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Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution

CHARACTERISTICS
CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Coupon Original									7.39846%		7.72509%		7.65979%
Weighted Average Coupon Prior									7.39846%		7.72509%		7.65979%
Weighted Average Coupon Current									7.39109%		7.72086%		7.65526%
Weighted Average Months to Maturity Original									353		348		349
Weighted Average Months to Maturity Prior									353		348		349
Weighted Average Months to Maturity Current									352		347		348
Weighted Avg Remaining Amortization Term Original									353		348		349
Weighted Avg Remaining Amortization Term Prior									353		348		349
Weighted Avg Remaining Amortization Term Current									352		347		348
Weighted Average Seasoning Original									2.10		2.11		2.11
Weighted Average Seasoning Prior									2.10		2.11		2.11
Weighted Average Seasoning Current									3.09		3.11		3.11









Page 10 of 28
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2004-R10

December 27, 2004 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Margin Original									5.95459%		6.13494%		6.09889%
Weighted Average Margin Prior									5.95459%		6.13494%		6.09889%
Weighted Average Margin Current									5.94990%		6.13635%		6.09934%
Weighted Average Max Rate Original									13.26630%		13.82651%		13.71452%
Weighted Average Max Rate Prior									13.26630%		13.82651%		13.71452%
Weighted Average Max Rate Current									13.25542%		13.82275%		13.71014%
Weighted Average Min Rate Original									7.26630%		7.82651%		7.71452%
Weighted Average Min Rate Prior									7.26630%		7.82651%		7.71452%
Weighted Average Min Rate Current									7.25542%		7.82275%		7.71014%
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									16,745.73		86,424.79		103,170.52
Delinquent Servicing Fees									89,739.23		342,445.65		432,184.87
TOTAL SERVICING FEES									106,484.96		428,870.45		535,355.41


Total Servicing Fees									106,484.96		428,870.45		535,355.41
Compensating Interest									-6,700.40		-14,381.37		-21,081.77
Delinquent Servicing Fees									-89,739.23		-342,445.65		-432,184.87
COLLECTED SERVICING FEES									16,745.73		86,424.79		82,088.76


Total Advanced Interest									1,233,371.70		4,966,389.39		6,199,761.10
Total Advanced Principal									178,276.78		679,299.27		857,576.05
Aggregate Advances with respect to this Distribution									1,411,648.48		5,645,688.66		7,057,337.15





ADDITIONAL COLLATERAL INFORMATION
									Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)									6,700.40		14,381.37		21,081.77
Compensating Interest									-6,700.40		-14,381.37		-21,081.77
Net Prepayment Interest Shortfall (PPIS)									0.00		0.00		0.00


Ending Pool Stated Principal Balance									330,391,596.23		1,336,793,713.19		1,667,185,309.42
Weighted Average Net Mortgage Rate									6.889444%		7.219421%		7.153787%




Page 11 of 28
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Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			6,540,941.11		0.00		0.00		6,540,941.11
			% Balance			0.52%		0.00%		0.00%		0.52%
			# Loans			40		0		0		40
			% # Loans			0.52%		0.00%		0.00%		0.52%
	FORECLOSURE		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		1,148,026.12	220,953.23		0.00		0.00		1,368,979.35
			% Balance		0.09%	0.02%		0.00%		0.00%		0.11%
			# Loans		8	2		0		0		10
			% # Loans		0.10%	0.03%		0.00%		0.00%		0.13%
	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		1,148,026.12	6,761,894.34		0.00		0.00		7,909,920.46
			% Balance		0.09%	0.53%		0.00%		0.00%		0.62%
			# Loans		8	42		0		0		50
			% # Loans		0.10%	0.54%		0.00%		0.00%		0.64%









Page 12 of 28
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2004-R10

December 27, 2004 Distribution


	GROUP 1
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			5,704,606.31		0.00		0.00		5,704,606.31
			% Balance			0.56%		0.00%		0.00%		0.56%
			# Loans			37		0		0		37
			% # Loans			0.53%		0.00%		0.00%		0.53%
	FORECLOSURE		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		1,148,026.12	220,953.23		0.00		0.00		1,368,979.35
			% Balance		0.11%	0.02%		0.00%		0.00%		0.13%
			# Loans		8	2		0		0		10
			% # Loans		0.11%	0.03%		0.00%		0.00%		0.14%
	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		1,148,026.12	5,925,559.54		0.00		0.00		7,073,585.66
			% Balance		0.11%	0.58%		0.00%		0.00%		0.70%
			# Loans		8	39		0		0		47
			% # Loans		0.11%	0.55%		0.00%		0.00%		0.67%










Page 13 of 28
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2004-R10

December 27, 2004 Distribution

	GROUP 2
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			836,334.80		0.00		0.00		836,334.80
			% Balance			0.33%		0.00%		0.00%		0.33%
			# Loans			3		0		0		3
			% # Loans			0.41%		0.00%		0.00%		0.41%
	FORECLOSURE		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00	836,334.80		0.00		0.00		836,334.80
			% Balance		0.00%	0.33%		0.00%		0.00%		0.33%
			# Loans		0	3		0		0		3
			% # Loans		0.00%	0.41%		0.00%		0.00%		0.41%









Page 14 of 28
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2004-R10

December 27, 2004 Distribution
REO Report
Loan Number			Original		Stated			Current		State &

													First
&			Principal		Principal	Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance	Date		Rate		Origination		Term		Date
SPACE INTENTIONALLY LEFT BLANK
SPACE INTENTIONALLY LEFT BLANK



TOTAL



Page 15 of 28
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Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution
Foreclosure Report
Loan Number			Original		Stated			Current		State &

													First
&			Principal		Principal	Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance	Date		Rate		Origination		Term		Date




TOTAL



Page 16 of 28
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2004-R10

December 27, 2004 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

										Group 2		Group 1		Total




*Current*


Number of Paid in Full Loans									11		68		79
Number of Repurchased Loans									0		2		2
Total Number of Loans Prepaid in Full									11		70		81
Curtailments Amount									142,330.81		64,042.30		206,373.11
Paid in Full Balance									4,785,268.96		11,448,345.65		16,233,614.61
Repurchased Loans Balance									0.00		146,753.96		146,753.96
Total Prepayment Amount									4,927,599.77		11,659,141.91		16,586,741.68

*Cumulative*


Number of Paid in Full Loans									19		108		127
Number of Repurchased Loans									2		22		24
Total Number of Loans Prepaid in Full									21		130		151
Paid in Full Balance									8,131,463.35		19,029,897.46		27,161,360.81
Repurchased Loans Balance									734,342.16		2,362,815.17		3,097,157.33
Curtailments Amount									170,245.17		220,795.52		391,040.69
Total Prepayment Amount									9,036,050.68		21,613,508.15		30,649,558.83










Page 17 of 28
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2004-R10

December 27, 2004 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

										Group 2		Group 1		Total



SMM									1.93%		1.13%		1.29%
3 Months Avg SMM									1.76%		1.05%		1.19%
12 Months Avg SMM									1.76%		1.05%		1.19%
Avg SMM Since Cut-off									1.76%		1.05%		1.19%


CPR									20.85%		12.79%		14.45%
3 Months Avg CPR									19.15%		11.85%		13.35%
12 Months Avg CPR									19.15%		11.85%		13.35%
Avg CPR Since Cut-off									19.15%		11.85%		13.35%


PSA									3,368.69%		2,054.56%		2,324.04%
3 Months Avg PSA Approximation									3,688.23%		2,267.91%		2,558.48%
12 Months Avg PSA Approximation									3,688.23%		2,267.91%		2,558.48%
Avg PSA Since Cut-off Approximation									3,688.23%		2,267.91%		2,558.48%










Page 18 of 28
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2004-R10

December 27, 2004 Distribution






PREPAYMENT CALCULATION METHODOLOGY

	Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal)

	Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
	PSA Standard Prepayment Model: CPR/(0.002*min(30,WAS))
	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 28
Ameriquest Mortgage Securities, Inc. 2004-R10

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Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

71313522 1			259,000.00		257,197.99		17-Nov-2004		6.800%		CA - 43.17%		Paid Off - 360		4/1/2004
71313522 1			259,000.00		257,197.99		17-Nov-2004		6.800%		CA - 43.17%		Paid Off - 360		4/1/2004
73892747 1			92,500.00		92,072.93		15-Nov-2004		8.250%		CA - 66.07%		Paid Off - 360		5/1/2004
78725587 1			129,000.00		128,615.62		16-Nov-2004		8.650%		MI - 64.50%		Paid Off - 360		7/1/2004
78744182 2			446,000.00		444,121.54		30-Nov-2004		6.950%		MA - 74.33%		Paid Off - 360		7/1/2004
79882221 1			225,000.00		224,076.09		24-Nov-2004		7.050%		CA - 90.00%		Paid Off - 360		7/1/2004
80256704 1			255,000.00		254,240.20		01-Dec-2004		8.650%		NY - 68.00%		Paid Off - 360		7/1/2004
84471044 1			153,000.00		152,672.19		19-Nov-2004		7.500%		AL - 75.00%		Paid Off - 360		10/1/2004
85387181 2			483,941.00		483,437.28		11-Nov-2004		9.250%		CA - 90.00%		Paid Off - 360		10/1/2004
86501608 2			409,000.00		408,326.20		30-Nov-2004		6.990%		CA - 71.13%		Paid Off - 360		10/1/2004
86575248 1			167,000.00		166,728.12		11-Nov-2004		7.050%		ME - 66.53%		Paid Off - 360		10/1/2004
86598646 1			184,500.00		184,297.25		08-Dec-2004		8.990%		MA - 56.77%		Paid Off - 360		10/1/2004
87026068 1			397,000.00		396,443.42		10-Dec-2004		7.800%		NY - 65.08%		Paid Off - 360		10/1/2004
87086583 2			402,000.00		401,212.80		12-Nov-2004		6.100%		CA - 78.82%		Paid Off - 360		10/1/2004
87251823 1			69,633.00		69,546.56		23-Nov-2004		8.400%		AZ - 73.30%		Paid Off - 360		10/1/2004
87336665 1			78,677.00		78,592.21		18-Nov-2004		9.100%		TX - 74.93%		Paid Off - 360		10/1/2004
87379681 1			60,000.00		59,968.42		09-Dec-2004		12.400%		NY - 80.00%		Paid Off - 360		10/1/2004
87412706 2			599,999.00		599,367.93		01-Dec-2004		9.200%		CA - 66.67%		Paid Off - 360		10/1/2004
87413563 1			202,000.00		201,427.51		02-Dec-2004		6.300%		IL - 81.45%		Paid Off - 360		9/1/2004
87474805 1			86,000.00		85,927.56		30-Nov-2004		10.250%		WI - 81.91%		Paid Off - 360		10/1/2004
87527420 1			104,000.00		103,933.20		02-Dec-2004		11.500%		FL - 67.10%		Paid Off - 360		10/1/2004
87551420 1			221,000.00		220,769.95		11-Nov-2004		9.250%		MN - 85.00%		Paid Off - 360		10/1/2004
87582946 2			64,000.00		63,974.30		30-Nov-2004		13.600%		IL - 80.00%		Paid Off - 360		10/1/2004
87611489 1			120,000.00		119,826.61		10-Dec-2004		7.650%		CA - 80.00%		Paid Off - 360		10/1/2004
87747606 1			88,000.00		87,901.47		08-Dec-2004		8.900%		MI - 72.73%		Paid Off - 360		10/1/2004
87779583 1			116,000.00		115,850.03		06-Dec-2004		8.200%		CA - 80.00%		Paid Off - 360		10/1/2004
87793444 1			243,900.00		243,646.13		24-Nov-2004		9.250%		GA - 90.00%		Paid Off - 360		10/1/2004
87801049 1			78,000.00		77,882.70		03-Dec-2004		7.450%		CA - 26.00%		Paid Off - 360		10/1/2004
87804969 1			225,500.00		225,125.56		02-Dec-2004		6.950%		CT - 82.00%		Paid Off - 360		10/1/2004
87897484 1			72,000.00		71,933.25		07-Dec-2004		9.800%		WI - 78.26%		Paid Off - 360		10/1/2004
87963369 1			262,500.00		262,206.11		03-Dec-2004		8.900%		CA - 74.57%		Paid Off - 360		10/1/2004
87987525 2			380,000.00		379,248.71		02-Dec-2004		6.050%		NY - 69.98%		Paid Off - 360		10/1/2004
88018528 1			257,000.00		256,597.81		24-Nov-2004		7.250%		NY - 79.08%		Paid Off - 360		10/1/2004
88023742 1			100,000.00		99,820.45		18-Nov-2004		6.550%		CA - 83.33%		Paid Off - 360		10/1/2004
88057203 1			100,000.00		99,863.14		30-Nov-2004		8.250%		ME - 64.52%		Paid Off - 360		10/1/2004
88129580 1			286,000.00		285,676.45		06-Dec-2004		8.850%		AL - 79.89%		Paid Off - 360		10/1/2004
88235700 1			151,000.00		150,751.23		08-Dec-2004		6.990%		WI - 75.50%		Paid Off - 360		10/1/2004
88390844 1			216,000.00		215,807.68		24-Nov-2004		9.990%		PA - 60.00%		Paid Off - 360		10/1/2004
88390844 1			216,000.00		215,807.68				9.990%		PA - 60.00%		Paid Off - 360



Page 20 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

88454608 1			323,500.00		323,013.49		01-Dec-2004		7.450%		CA - 86.27%		Paid Off - 360		10/1/2004
88454608 1			323,500.00		323,013.49		01-Dec-2004		7.450%		CA - 86.27%		Paid Off - 360		10/1/2004
88502984 1			226,000.00		225,627.68		03-Dec-2004		6.990%		NY - 75.33%		Paid Off - 360		10/1/2004
88565106 1			154,000.00		153,773.67		02-Dec-2004		7.990%		NJ - 74.40%		Paid Off - 360		10/1/2004
88582408 1			267,000.00		266,713.24		01-Dec-2004		9.100%		NJ - 71.20%		Paid Off - 360		10/1/2004
88634605 1			176,650.00		176,437.39		10-Dec-2004		8.550%		NJ - 58.88%		Paid Off - 360		10/1/2004
88653902 1			120,000.00		119,876.38		30-Nov-2004		9.300%		NJ - 79.87%		Paid Off - 360		10/1/2004
88654181 1			147,000.00		146,801.67		15-Nov-2004		7.990%		CA - 75.00%		Paid Off - 360		10/1/2004
88678883 1			135,000.00		134,877.48		16-Nov-2004		9.900%		IL - 74.18%		Paid Off - 360		10/1/2004
88695986 1			221,250.00		220,980.97		01-Dec-2004		8.500%		CT - 75.00%		Paid Off - 360		10/1/2004
88791249 1			133,470.00		133,299.19		03-Dec-2004		8.250%		CA - 90.00%		Paid Off - 360		10/1/2004
88796388 1			188,000.00		187,810.06		11-Nov-2004		9.400%		NY - 60.65%		Paid Off - 360		10/1/2004
88796842 2			576,000.00		575,299.63		22-Nov-2004		8.500%		NJ - 90.00%		Paid Off - 360		10/1/2004
88891940 1			61,500.00		61,444.49		09-Dec-2004		9.990%		MI - 75.00%		Paid Off - 360		10/1/2004
89017909 1			198,450.00		198,302.20		18-Nov-2004		11.250%		NJ - 90.00%		Paid Off - 360		10/1/2004
89035125 1			225,250.00		224,924.52		03-Dec-2004		7.650%		CA - 85.00%		Paid Off - 360		10/1/2004
89047989 1			130,000.00		129,804.36		30-Nov-2004		7.550%		CA - 60.75%		Paid Off - 360		10/1/2004
89154108 1			192,500.00		192,219.05		12-Nov-2004		7.600%		RI - 77.94%		Paid Off - 360		10/1/2004
89189849 1			180,000.00		179,798.48		01-Dec-2004		8.900%		MD - 58.07%		Paid Off - 360		10/1/2004
89222509 1			254,600.00		254,314.95		19-Nov-2004		8.900%		NJ - 70.72%		Paid Off - 360		10/1/2004
89378368 2			345,000.00		344,438.31		08-Dec-2004		7.050%		CA - 83.74%		Paid Off - 360		10/1/2004
89464028 1			83,250.00		83,172.82		22-Nov-2004		9.800%		WI - 75.00%		Paid Off - 360		10/1/2004
89479604 1			165,974.00		165,709.71		03-Dec-2004		7.990%		NJ - 55.33%		Paid Off - 360		10/1/2004
89493209 1			84,070.00		83,952.13		15-Nov-2004		7.800%		IL - 54.95%		Paid Off - 360		10/1/2004
89498042 1			220,378.00		220,029.70		10-Dec-2004		7.200%		CT - 86.42%		Paid Off - 360		10/1/2004
89562342 1			123,300.00		123,159.26		02-Dec-2004		8.990%		IL - 90.00%		Paid Off - 360		10/1/2004
89634588 1			88,500.00		88,420.51		24-Nov-2004		9.950%		WI - 60.00%		Paid Off - 360		10/1/2004
89689244 1			266,250.00		265,957.42		26-Nov-2004		8.990%		NY - 75.00%		Paid Off - 360		10/1/2004
89850424 1			199,300.00		198,998.19		22-Nov-2004		7.450%		WI - 82.70%		Paid Off - 360		10/1/2004
89985469 1			88,500.00		88,430.10		18-Nov-2004		10.550%		IL - 75.00%		Paid Off - 360		10/1/2004
90024027 1			311,250.00		310,786.56		03-Dec-2004		7.500%		CO - 75.00%		Paid Off - 360		10/1/2004
90043605 1			160,000.00		159,865.22		29-Nov-2004		10.250%		NJ - 80.00%		Paid Off - 360		10/1/2004
90108861 1			194,750.00		194,448.24		09-Dec-2004		7.300%		MD - 95.00%		Paid Off - 360		10/1/2004
90116864 2			338,000.00		337,543.98		24-Nov-2004		7.990%		MN - 76.82%		Paid Off - 360		10/1/2004
90151044 1			65,000.00		64,871.66		02-Dec-2004		8.900%		WI - 65.00%		Paid Off - 360		10/1/2004
90376542 2			749,000.00		748,298.28		24-Nov-2004		9.750%		IL - 83.22%		Paid Off - 360		10/1/2004
90516089 1			65,000.00		64,907.95		22-Nov-2004		7.750%		NJ - 39.32%		Paid Off - 360		10/1/2004
90559188 1			129,050.00		128,879.72		08-Dec-2004		8.100%		RI - 64.53%		Paid Off - 360		10/1/2004
90902123 1			260,000.00		259,714.30		03-Dec-2004		8.990%		NJ - 84.06%		Paid Off - 360		10/1/2004
90902123 1			260,000.00		259,714.30				8.990%		NJ - 84.06%		Paid Off - 360



Page 21 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

90939729 1			212,500.00		212,262.08		18-Nov-2004		8.900%		NH - 85.00%		Paid Off - 360		10/1/2004
90939729 1			212,500.00		212,262.08		18-Nov-2004		8.900%		NH - 85.00%		Paid Off - 360		10/1/2004
91057083 1			126,000.00		125,941.83		16-Nov-2004		9.800%		WI - 90.00%		Paid Off - 360		11/1/2004
91488965 1			72,000.00		71,973.76		18-Nov-2004		10.900%		IL - 90.00%		Paid Off - 360		11/1/2004
91733683 1			217,500.00		217,447.38		11-Nov-2004		12.750%		FL - 71.31%		Paid Off - 360		11/1/2004
88405683 1			83,000.00		82,910.86		11-Nov-2004		9.100%		NE - 63.85%		Repur/Subs - 360		10/1/2004
90548868 1			63,900.00		63,843.10		26-Nov-2004		9.990%		NC - 90.00%		Repur/Subs - 360		10/1/2004


TOTAL			16,405,792.00		16,380,368.57
TOTAL


Page 22 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



										Group 2		Group 1		Total


*Current*
*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*
*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 23 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution


DEFAULT SPEEDS



										Group 2		Group 1		Total



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


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


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


Loss Severity Approximation for Current Period									0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation									0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation									0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off									0.00%		0.00%		0.00%












Page 24 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution





COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
	Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)



	Conditional Default Rate (CDR): 1-((1-MDR)^12)

	SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))

	Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)(1-MDRn+1)...*(1-MDRm)]^(1/months in period n,m)
	Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

	Average SDA Approximation over period between the nth month and mth month:
	AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))

	Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)
	Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

	Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

	Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
	Dates correspond to distribution dates.




Page 25 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution
Realized Loss Detail Report
Loan Number			Current		State &			Prior		Realized				Cumulative
														Cumulative
&		Loan	Note		LTV at	Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination	Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group		Status	Rate		Origination	Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)




TOTAL



Page 26 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
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													1,368,979.35
Delinquency Percentage													0.0800%
Balance of Mezzanine and C Class													289,850,000.00
Ending Balance													1,267,185,012.65
Credit Enhancement Percentage													17.3900%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Current LIBOR Rate													2.180000%
Next LIBOR Rate													2.416880%




Page 27 of 28
Ameriquest Mortgage Securities, Inc. 2004-R10

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R10

December 27, 2004 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

									Next Pass Through Rate			NET WAC Shortfall CarryOver		NET WAC Shortfall Paid
CLASS

			A-1						2.75%			$0.00		$0.00
									2.75%			$0.00		$0.00
			A-2						2.59%			$0.00		$0.00
									2.59%			$0.00		$0.00
			A-3						2.77%			$0.00		$0.00
									2.77%			$0.00		$0.00
			A-4						2.99%			$0.00		$0.00
									2.99%			$0.00		$0.00
			A-5						2.81%			$0.00		$0.00
									2.81%			$0.00		$0.00
			M-1						3.12%			$0.00		$0.00
									3.12%			$0.00		$0.00
			M-2						3.17%			$0.00		$0.00
									3.17%			$0.00
			M-3						3.22%			$0.00		$0.00
									3.22%			$0.00		$0.00
			M-4						3.52%			$0.00		$0.00
									3.52%			$0.00		$0.00
			M-5						3.57%			$0.00		$0.00
									3.57%			$0.00		$0.00
			M-6						3.79%			$0.00		$0.00
									3.79%			$0.00		$0.00
			M-7						4.22%			$0.00		$0.00
									4.22%			$0.00		$0.00
			M-8						4.42%			$0.00		$0.00
									4.42%			$0.00		$0.00
			M-9						5.92%			$0.00		$0.00
									5.92%			$0.00		$0.00
			M-10						4.92%			$0.00		$0.00
									4.92%			$0.00		$0.00
			CE						0.00%			$0.00		$0.00
									0.00%			$0.00		$0.00
			P						0.00%			$0.00		$0.00
									0.00%			$0.00		$0.00
			R						0.00%			$0.00		$0.00
									0.00%			$0.00		$0.00
			R-X						0.00%			$0.00		$0.00
									0.00%			$0.00		$0.00






Page 28 of 28

AMERIQUEST MORTGAGE SECURITIES INC. ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 2004-R10 8-K