~~Item~~UNITED ~~601~~STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(ad) of ~~Regulation~~the SSecurities KExchange ~~Sequentially~~Act ~~Exhibit~~of ~~No.~~1934 ~~Exhibit~~Date ~~No.~~of ~~Description~~Report ~~Numbered~~(Date ~~Page~~of earliest event reported): December 27, 2004 (Date of earliest event reported) Ameriquest Mortgage Securities Inc (as Depositor under the Trust Agreement, dated as November 1, 2004, providing for the issuance of Asset-Backed Pass-Through Certificates, Series 2004-R11) (Exact name of registrant as specified in charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-118137-04 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)) 1Item 998.01 ~~Subsequent~~Other ~~Transfer~~Events ~~Instrument~~Attached 2hereto 99is ~~Characteristics~~a copy of the ~~Mortgage~~Monthly ~~Pool~~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 127, 2004. Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, ~~relating~~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 ~~Asset-Backed~~Date: ~~Pass-Through~~Dec ~~Certificates~~31, ~~Series~~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~~-R11~~.



Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution

				External Parties					Table of Contents

												Page
				Seller								Page
				Seller					1. Certificate Payment Report					2
				Ameriquest Mtg Sec Inc					1. Certificate Payment Report					2
				Ameriquest Mtg Sec Inc					2. Collection Account Report					4
									2. Collection Account Report					4
									3. Credit Enhancement Report					6
									4. Collateral Report					7
				Certificate Insurer(s)					5. Delinquency Report					10
				Certificate Insurer(s)					5. Delinquency Report					10
									6. REO Report					13

									7. Foreclosure Report					14
									8. Prepayment Report					15
									9. Prepayment Detail Report					18
									9. Prepayment Detail Report					18
									10. Realized Loss Report					20
									11. Realized Loss Detail Report					23
				Servicer(s)					11. Realized Loss Detail Report					23
				Servicer(s)					12. Triggers and Adj. Cert. Report					24
				Ameriquest Mortgage Corp					12. Triggers and Adj. Cert. Report					24
				Ameriquest Mortgage Corp					13. Additional Certificate Report					25
									13. Additional Certificate Report					25


				Underwriter(s)
				UBS Securities


									Total Number of Pages					25
									Total Number of Pages

				Dates					Contacts

				Cut-Off Date:		November 01, 2004			Nicholas Gisler
				Close Date:		November 05, 2004			Administrator
				First Distribution Date:		December 27, 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 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

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	SR	$	1,016,175,000.00		1,016,175,000.00	3,453,019.10		10,997,989.64		14,451,008.74		0.00		0.00		1,005,177,010.36
A-1	SR	$	1,016,175,000.00		1,016,175,000.00	3,453,019.10		10,997,989.64		14,451,008.74		0.00		0.00		1,005,177,010.36
A-2	SR	$	286,575,000.00		286,575,000.00	1,001,738.83		6,182,794.96		7,184,533.79		0.00		0.00		280,392,205.04
M-1	MEZ	$	63,750,000.00		63,750,000.00	249,545.83		0.00		249,545.83		0.00		0.00		63,750,000.00
M-2	MEZ	$	32,250,000.00		32,250,000.00	128,570.00		0.00		128,570.00		0.00		0.00		32,250,000.00
M-3	MEZ	$	16,500,000.00		16,500,000.00	67,448.33		0.00		67,448.33		0.00		0.00		16,500,000.00
M-4	MEZ	$	15,000,000.00		15,000,000.00	68,250.00		0.00		68,250.00		0.00		0.00		15,000,000.00
M-5	MEZ	$	12,750,000.00		12,750,000.00	59,854.17		0.00		59,854.17		0.00		0.00		12,750,000.00
M-6	MEZ	$	12,000,000.00		12,000,000.00	59,800.00		0.00		59,800.00		0.00		0.00		12,000,000.00
M-7	MEZ	$	7,500,000.00		7,500,000.00	42,250.00		0.00		42,250.00		0.00		0.00		7,500,000.00
M-8	MEZ	$	5,250,000.00		5,250,000.00	30,712.50		0.00		30,712.50		0.00		0.00		5,250,000.00
M-9	MEZ	$	9,000,000.00		9,000,000.00	72,150.00		0.00		72,150.00		0.00		0.00		9,000,000.00
M-10	MEZ	$	14,250,000.00		14,250,000.00	93,654.17		0.00		93,654.17		0.00		0.00		14,250,000.00
CE	SUB	$	8,999,897.74		8,999,897.74	1,801,170.51		0.00		1,801,170.51		0.00		102.25		8,999,999.99
P	SR	$	100.00		100.00	94,065.47		0.00		94,065.47		0.00		0.00		100.00
R	RES	$	0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00


Total			1,499,999,997.74		1,499,999,997.74	7,222,228.91		17,180,784.60		24,403,013.51		0.00		102.25		1,482,819,315.39
Total




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	11/05/04		12/26/04		F-Act/360	03072SWN1		1,016,175,000.00		1,000.000000		3.398056		10.822929		14.220984	989.177071
A-2	11/05/04		12/26/04		F-Act/360	03072SWP6		286,575,000.00		1,000.000000		3.495556		21.574788		25.070344	978.425212
M-1	11/05/04		12/26/04		F-Act/360	03072SWQ4		63,750,000.00		1,000.000000		3.914444		0.000000		3.914444	1,000.000000
M-2	11/05/04		12/26/04		F-Act/360	03072SWR2		32,250,000.00		1,000.000000		3.986667		0.000000		3.986667	1,000.000000
M-3	11/05/04		12/26/04		F-Act/360	03072SWS0		16,500,000.00		1,000.000000		4.087778		0.000000		4.087778	1,000.000000
M-4	11/05/04		12/26/04		F-Act/360	03072SWT8		15,000,000.00		1,000.000000		4.550000		0.000000		4.550000	1,000.000000
M-5	11/05/04		12/26/04		F-Act/360	03072SWU5		12,750,000.00		1,000.000000		4.694445		0.000000		4.694445	1,000.000000
M-6	11/05/04		12/26/04		F-Act/360	03072SWV3		12,000,000.00		1,000.000000		4.983333		0.000000		4.983333	1,000.000000
M-7	11/05/04		12/26/04		F-Act/360	03072SWW1		7,500,000.00		1,000.000000		5.633333		0.000000		5.633333	1,000.000000
M-8	11/05/04		12/26/04		F-Act/360	03072SWX9		5,250,000.00		1,000.000000		5.850000		0.000000		5.850000	1,000.000000
M-9	11/05/04		12/26/04		F-Act/360	03072SWY7		9,000,000.00		1,000.000000		8.016667		0.000000		8.016667	1,000.000000
M-10	11/05/04		12/26/04		F-Act/360	03072SWZ4		14,250,000.00		1,000.000000		6.572222		0.000000		6.572222	1,000.000000
CE	11/05/04		11/30/04		F-30/360			8,999,897.74		1,000.000000		200.132331		0.000000		200.132331	1,000.011361
P	11/05/04		11/30/04		F-30/360			100.00		1,000.000000		940,654.700000		0.000000		940,654.700000	1,000.000000
R	11/05/04		11/30/04		F-30/360			0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 2 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

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	1,016,175,000.00		3,453,019.10		10,196,864.95	801,124.69		10,997,989.64		14,451,008.74		0.00		0.00		1,005,177,010.36
A-2	286,575,000.00		1,001,738.83		5,963,027.49	219,767.47		6,182,794.96		7,184,533.79		0.00		0.00		280,392,205.04
M-1	63,750,000.00		249,545.83		0.00	0.00		0.00		249,545.83		0.00		0.00		63,750,000.00
M-2	32,250,000.00		128,570.00		0.00	0.00		0.00		128,570.00		0.00		0.00		32,250,000.00
M-3	16,500,000.00		67,448.33		0.00	0.00		0.00		67,448.33		0.00		0.00		16,500,000.00
M-4	15,000,000.00		68,250.00		0.00	0.00		0.00		68,250.00		0.00		0.00		15,000,000.00
M-5	12,750,000.00		59,854.17		0.00	0.00		0.00		59,854.17		0.00		0.00		12,750,000.00
M-6	12,000,000.00		59,800.00		0.00	0.00		0.00		59,800.00		0.00		0.00		12,000,000.00
M-7	7,500,000.00		42,250.00		0.00	0.00		0.00		42,250.00		0.00		0.00		7,500,000.00
M-8	5,250,000.00		30,712.50		0.00	0.00		0.00		30,712.50		0.00		0.00		5,250,000.00
M-9	9,000,000.00		72,150.00		0.00	0.00		0.00		72,150.00		0.00		0.00		9,000,000.00
M-10	14,250,000.00		93,654.17		0.00	0.00		0.00		93,654.17		0.00		0.00		14,250,000.00
CE	8,999,897.74		1,801,170.51		0.00	0.00		0.00		1,801,170.51		0.00		102.25		8,999,999.99
P	100.00		94,065.47		0.00	0.00		0.00		94,065.47		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	1,499,999,997.74		7,222,228.91		16,159,892.44	1,020,892.16		17,180,784.60		24,403,013.51		0.00		102.25		1,482,819,315.39


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	2.35250%		1,016,175,000.00		3,453,019.10	0.00		0.00		0.00		3,453,019.10		3,453,019.10		0.00
A-2	2.42000%		286,575,000.00		1,001,738.83	0.00		0.00		0.00		1,001,738.83		1,001,738.83		0.00
M-1	2.71000%		63,750,000.00		249,545.83	0.00		0.00		0.00		249,545.83		249,545.83		0.00
M-2	2.76000%		32,250,000.00		128,570.00	0.00		0.00		0.00		128,570.00		128,570.00		0.00
M-3	2.83000%		16,500,000.00		67,448.33	0.00		0.00		0.00		67,448.33		67,448.33		0.00
M-4	3.15000%		15,000,000.00		68,250.00	0.00		0.00		0.00		68,250.00		68,250.00		0.00
M-5	3.25000%		12,750,000.00		59,854.17	0.00		0.00		0.00		59,854.17		59,854.17		0.00
M-6	3.45000%		12,000,000.00		59,800.00	0.00		0.00		0.00		59,800.00		59,800.00		0.00
M-7	3.54778%		7,500,000.00		38,434.34	0.00		0.00		0.00		38,434.34		42,250.00		0.00
M-8	3.54778%		5,250,000.00		26,904.04	0.00		0.00		0.00		26,904.04		30,712.50		0.00
M-9	3.54778%		9,000,000.00		46,121.20	0.00		0.00		0.00		46,121.20		72,150.00		0.00
M-10	3.54778%		14,250,000.00		73,025.24	0.00		0.00		0.00		73,025.24		93,654.17		0.00
CE	277.12203%		8,999,897.74		0.00	0.00		0.00		0.00		0.00		1,801,272.76		0.00
P	0.00000%		100.00		0.00	0.00		0.00		0.00		0.00		94,065.47		0.00
R	0.00000%		0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00


Total			1,499,999,997.74		5,272,711.08	0.00		0.00		0.00		5,272,711.08		7,222,331.16		0.00



Page 3 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution
Collection Account Report
SUMMARY
SUMMARY
									Group 2		Group 1		Total
Principal Collections									6,182,758.16		10,997,924.19		17,180,682.35
Principal Withdrawals									0.00		0.00		0.00
Principal Other Accounts									0.00		0.00		0.00
TOTAL NET PRINCIPAL									6,182,758.16		10,997,924.19		17,180,682.35
Interest Collections									1,469,261.15		5,586,058.89		7,055,320.05
Interest Withdrawals									-0.00		-0.00		-0.00
Interest Fees									-211,357.33		-778,779.07		-990,136.40
Interest Other Accounts													1,157,147.52
TOTAL NET INTEREST									1,257,903.82		4,807,279.83		7,222,331.17
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION													24,403,013.52



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Principal Received										219,767.47		801,124.69		1,020,892.16
Curtailments										8,905.27		116,626.46		125,531.73
Prepayments In Full										2,852,249.67		6,798,128.46		9,650,378.13
Repurchased/Substitutions										3,101,835.75		3,282,044.58		6,383,880.33
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										-171,951.94		-586,709.39		-758,661.33
Realized Losses										-0.00		-0.00		-0.00
Advanced Principal										171,951.94		586,709.39		758,661.33
TOTAL PRINCIPAL COLLECTED										6,182,758.16		10,997,924.19		17,180,682.35


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 4 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
									Group 2		Group 1		Total
Scheduled Interest									1,535,199.94		5,856,621.49		7,391,821.43
Repurchased/Substitution Interest									19,797.69		20,613.69		40,411.38
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									-4,146.59		-13,393.32		-17,539.91
Delinquent Interest									-1,218,569.05		-4,424,511.21		-5,643,080.26
Compensating Interest									4,146.59		13,393.32		17,539.91
Civil Relief Act Shortfalls									-0.00		-0.00		-0.00
Interest Advanced									1,132,832.57		4,133,334.93		5,266,167.50
TOTAL INTEREST COLLECTED									1,469,261.15		5,586,058.89		7,055,320.05


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													94,065.47
Net WAC Investment Income													0.00
Withdrawal from interest coverage account									233,822.69		829,259.36		1,063,082.05
TOTAL INTEREST OTHER ACCOUNTS													1,157,147.52



INTEREST - FEES
INTEREST - FEES
									Group 2		Group 1		Total
Current Servicing Fees									24,257.25		98,837.57		123,094.82
Trustee Fees									384.96		1,365.04		1,750.00
TOTAL INTEREST FEES									211,357.33		778,779.07		990,136.40




Page 5 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

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)											84,398.98		84,398.98



STRUCTURAL FEATURES
STRUCTURAL FEATURES
									Group 2		Group 1		Total
Overcollateralized Amount													8,999,999.99
Overcollateralization Reduction Amount													0.00
Overcollateralization Deficiency Amount													0.00
Overcollateralization Target Amount													8,999,999.99

Class A Certificate Defiency Amount													0.00



Page 6 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution
Collateral Report


COLLATERAL



										Group 2		Group 1		Total



*Loan Count:*


Original									559		6,346		6,905
Prior									559		6,346		6,905
Prefunding									0		0		0
Scheduled Paid Offs									-0		-0		-0
Full Voluntary Prepayments									-6		-39		-45
Repurchases									-6		-18		-24
Liquidations									-0		-0		-0
Current									547		6,289		6,836
*Principal Balance:*


Original									263,984,945.51		936,033,245.99		1,200,018,191.50
Prior									263,984,945.51		936,033,245.99		1,200,018,191.50
Prefunding									65,980,374.98		234,001,431.26		299,981,806.24
Scheduled Principal									-219,767.47		-801,124.69		-1,020,892.16
Partial Prepayments									-8,905.27		-116,626.46		-125,531.73
Full Voluntary Prepayments									-2,852,249.67		-6,798,128.46		-9,650,378.13
Repurchases									-3,101,835.75		-3,282,044.58		-6,383,880.33
Liquidations									-0.00		-0.00		-0.00
Current									323,782,562.33		1,159,036,753.06		1,482,819,315.39





PREFUNDING
PREFUNDING
									Group 2		Group 1		Total
Prefunding Account Original Balance									65,980,374.98		234,001,431.26		299,981,806.24
Prefunding Account Beginning Balance									65,980,374.98		234,001,431.26		299,981,806.24
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									65,980,374.98		234,001,431.26		299,981,806.24





Page 7 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

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Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution

CHARACTERISTICS
CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Coupon Original									7.06857%		7.53465%		7.43212%
Weighted Average Coupon Prior									7.06857%		7.53465%		7.43212%
Weighted Average Coupon Current									7.06857%		7.53465%		7.43212%
Weighted Average Months to Maturity Original									356		349		350
Weighted Average Months to Maturity Prior									356		349		350
Weighted Average Months to Maturity Current									356		349		350
Weighted Avg Remaining Amortization Term Original									356		349		350
Weighted Avg Remaining Amortization Term Prior									356		349		350
Weighted Avg Remaining Amortization Term Current									356		349		350
Weighted Average Seasoning Original									2.26		2.28		2.28
Weighted Average Seasoning Prior									2.26		2.28		2.28
Weighted Average Seasoning Current									2.26		2.28		2.28









Page 8 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

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Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Margin Original									5.76545%		6.00329%		5.95320%
Weighted Average Margin Prior									5.76545%		6.00329%		5.95320%
Weighted Average Margin Current									5.76545%		6.00329%		5.95320%
Weighted Average Max Rate Original									13.17795%		13.66381%		13.56148%
Weighted Average Max Rate Prior									13.17795%		13.66381%		13.56148%
Weighted Average Max Rate Current									13.17795%		13.66381%		13.56148%
Weighted Average Min Rate Original									7.17795%		7.66381%		7.56148%
Weighted Average Min Rate Prior									7.17795%		7.66381%		7.56148%
Weighted Average Min Rate Current									7.17795%		7.66381%		7.56148%
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									24,257.25		98,837.57		123,094.82
Delinquent Servicing Fees									85,736.48		291,176.29		376,912.76
TOTAL SERVICING FEES									109,993.73		390,013.87		500,007.60


Total Servicing Fees									109,993.73		390,013.87		500,007.60
Compensating Interest									-4,146.59		-13,393.32		-17,539.91
Delinquent Servicing Fees									-85,736.48		-291,176.29		-376,912.76
COLLECTED SERVICING FEES									24,257.25		98,837.57		105,554.93


Total Advanced Interest									1,132,832.57		4,133,334.93		5,266,167.50
Total Advanced Principal									171,951.94		586,709.39		758,661.33
Aggregate Advances with respect to this Distribution									1,304,784.51		4,720,044.32		6,024,828.83





ADDITIONAL COLLATERAL INFORMATION
									Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)									4,146.59		13,393.32		17,539.91
Compensating Interest									-4,146.59		-13,393.32		-17,539.91
Net Prepayment Interest Shortfall (PPIS)									0.00		0.00		0.00


Ending Pool Stated Principal Balance									323,782,562.33		1,159,036,753.06		1,482,819,315.39
Weighted Average Net Mortgage Rate									5.718071%		6.271160%		6.149489%




Page 9 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

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Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			62,917.44		59,867.21		0.00		122,784.65
			% Balance			0.01%		0.01%		0.00%		0.01%
			# Loans			1		1		0		2
			% # Loans			0.01%		0.01%		0.00%		0.03%
	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		366,864.49	0.00		0.00		0.00		366,864.49
			% Balance		0.03%	0.00%		0.00%		0.00%		0.03%
			# Loans		3	0		0		0		3
			% # Loans		0.04%	0.00%		0.00%		0.00%		0.04%
	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		366,864.49	62,917.44		59,867.21		0.00		489,649.14
			% Balance		0.03%	0.01%		0.01%		0.00%		0.04%
			# Loans		3	1		1		0		5
			% # Loans		0.04%	0.01%		0.01%		0.00%		0.07%









Page 10 of 25
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Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution


	GROUP 1
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			62,917.44		59,867.21		0.00		122,784.65
			% Balance			0.01%		0.01%		0.00%		0.01%
			# Loans			1		1		0		2
			% # Loans			0.02%		0.02%		0.00%		0.03%
	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		366,864.49	0.00		0.00		0.00		366,864.49
			% Balance		0.04%	0.00%		0.00%		0.00%		0.04%
			# Loans		3	0		0		0		3
			% # Loans		0.05%	0.00%		0.00%		0.00%		0.05%
	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		366,864.49	62,917.44		59,867.21		0.00		489,649.14
			% Balance		0.04%	0.01%		0.01%		0.00%		0.05%
			# Loans		3	1		1		0		5
			% # Loans		0.05%	0.02%		0.02%		0.00%		0.08%










Page 11 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

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Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution

	GROUP 2
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			0.00		0.00		0.00		0.00
			% Balance			0.00%		0.00%		0.00%		0.00%
			# Loans			0		0		0		0
			% # Loans			0.00%		0.00%		0.00%		0.00%
	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	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%









Page 12 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

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Mortgage Pass-Through Certificates
2004-R11

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 13 of 25
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Mortgage Pass-Through Certificates
2004-R11

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 14 of 25
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Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

										Group 2		Group 1		Total




*Current*


Number of Paid in Full Loans									6		39		45
Number of Repurchased Loans									6		18		24
Total Number of Loans Prepaid in Full									12		57		69
Curtailments Amount									8,905.27		116,626.46		125,531.73
Paid in Full Balance									2,852,249.67		6,798,128.46		9,650,378.13
Repurchased Loans Balance									3,101,835.75		3,282,044.58		6,383,880.33
Total Prepayment Amount									5,962,990.69		10,196,799.50		16,159,790.19

*Cumulative*


Number of Paid in Full Loans									6		39		45
Number of Repurchased Loans									6		18		24
Total Number of Loans Prepaid in Full									12		57		69
Paid in Full Balance									2,852,249.67		6,798,128.46		9,650,378.13
Repurchased Loans Balance									3,101,835.75		3,282,044.58		6,383,880.33
Curtailments Amount									8,905.27		116,626.46		125,531.73
Total Prepayment Amount									5,962,990.69		10,196,799.50		16,159,790.19










Page 15 of 25
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Mortgage Pass-Through Certificates
2004-R11

December 27, 2004 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

										Group 2		Group 1		Total



SMM									2.26%		1.09%		1.35%
3 Months Avg SMM									2.26%		1.09%		1.35%
12 Months Avg SMM									2.26%		1.09%		1.35%
Avg SMM Since Cut-off									2.26%		1.09%		1.35%


CPR									24.00%		12.33%		15.03%
3 Months Avg CPR									24.00%		12.33%		15.03%
12 Months Avg CPR									24.00%		12.33%		15.03%
Avg CPR Since Cut-off									24.00%		12.33%		15.03%


PSA									5,311.37%		2,701.59%		3,300.36%
3 Months Avg PSA Approximation									5,311.37%		2,701.60%		3,300.37%
12 Months Avg PSA Approximation									5,311.37%		2,701.60%		3,300.37%
Avg PSA Since Cut-off Approximation									5,311.37%		2,701.60%		3,300.37%










Page 16 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

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Mortgage Pass-Through Certificates
2004-R11

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 17 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

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

71445787 1			156,700.00		156,147.47		17-Nov-2004		9.500%		CO - 76.44%		Paid Off - 360		5/1/2004
71445787 1			156,700.00		156,147.47		17-Nov-2004		9.500%		CO - 76.44%		Paid Off - 360		5/1/2004
71554307 1			79,200.00		78,947.94		16-Nov-2004		9.990%		CA - 48.00%		Paid Off - 360		5/1/2004
73738668 1			130,000.00		129,546.33		03-Dec-2004		9.550%		NV - 86.67%		Paid Off - 360		5/1/2004
73929820 1			191,000.00		190,406.71		02-Nov-2004		9.350%		RI - 64.31%		Paid Off - 360		6/1/2004
74310384 1			85,000.00		84,571.77		26-Nov-2004		7.750%		TN - 83.33%		Paid Off - 360		5/1/2004
74738485 2			360,000.00		358,481.29		10-Nov-2004		7.850%		CA - 90.00%		Paid Off - 360		6/1/2004
76325463 1			312,000.00		310,095.04		03-Nov-2004		5.950%		CA - 80.00%		Paid Off - 360		6/1/2004
81189706 1			251,200.00		250,547.50		16-Nov-2004		6.750%		NV - 66.30%		Paid Off - 360		9/1/2004
82367905 1			193,100.00		192,509.29		30-Nov-2004		5.900%		OH - 80.46%		Paid Off - 360		9/1/2004
84304807 1			256,500.00		255,751.82		10-Dec-2004		6.150%		MN - 90.00%		Paid Off - 360		9/1/2004
84620020 1			317,000.00		316,356.31		02-Nov-2004		7.990%		IL - 93.24%		Paid Off - 360		9/1/2004
84874585 1			207,000.00		206,561.74		26-Nov-2004		8.350%		FL - 64.69%		Paid Off - 360		9/1/2004
85346542 1			275,500.00		274,995.75		01-Dec-2004		8.500%		IL - 87.46%		Paid Off - 360		9/1/2004
87216222 1			115,000.00		114,823.58		08-Dec-2004		7.350%		OH - 82.14%		Paid Off - 360		10/1/2004
88794904 1			62,300.00		62,243.46		12-Nov-2004		9.900%		NC - 70.00%		Paid Off - 360		10/1/2004
89536064 1			323,000.00		322,436.59		01-Dec-2004		6.700%		MD - 59.54%		Paid Off - 360		10/1/2004
90238643 1			85,000.00		84,955.47		23-Nov-2004		9.200%		NJ - 30.66%		Paid Off - 360		11/1/2004
90273947 1			113,395.00		113,261.30		30-Nov-2004		8.650%		CA - 63.71%		Paid Off - 360		10/1/2004
90313180 1			221,000.00		220,779.41		09-Dec-2004		9.450%		MI - 83.40%		Paid Off - 360		10/1/2004
90454588 1			167,000.00		166,854.80		29-Nov-2004		6.700%		FL - 63.50%		Paid Off - 360		11/1/2004
90654724 2			354,000.00		353,709.25		02-Dec-2004		6.990%		NV - 61.90%		Paid Off - 360		11/1/2004
91306746 1			180,000.00		179,601.17		03-Dec-2004		7.950%		MD - 80.00%		Paid Off - 360		11/1/2004
91307587 1			90,000.00		89,957.56		24-Nov-2004		9.700%		IL - 75.00%		Paid Off - 360		11/1/2004
91443721 2			628,000.00		627,684.52		17-Nov-2004		9.400%		TX - 80.00%		Paid Off - 360		11/1/2004
91533182 1			193,000.00		192,804.16		01-Dec-2004		5.900%		RI - 74.23%		Paid Off - 360		11/1/2004
91560367 1			224,400.00		224,317.33		03-Nov-2004		10.850%		IL - 88.00%		Paid Off - 360		11/1/2004
91605063 1			120,000.00		119,919.31		30-Nov-2004		7.990%		MI - 75.00%		Paid Off - 360		11/1/2004
91890822 1			199,000.00		198,830.33		11-Nov-2004		6.800%		NJ - 64.32%		Paid Off - 360		11/1/2004
91906321 1			73,600.00		73,553.06		02-Nov-2004		8.250%		TX - 80.00%		Paid Off - 360		11/1/2004
92141068 1			60,000.00		59,942.51		26-Nov-2004		6.200%		IN - 63.16%		Paid Off - 360		11/1/2004
92321264 1			132,000.00		131,529.22		22-Nov-2004		6.450%		IL - 51.70%		Paid Off - 240		11/1/2004
92369248 1			235,000.00		234,779.16		01-Dec-2004		6.300%		MD - 75.81%		Paid Off - 360		11/1/2004
92394063 1			214,000.00		213,834.70		24-Nov-2004		7.300%		NJ - 56.32%		Paid Off - 360		11/1/2004
92417468 1			123,698.00		123,698.00		24-Nov-2004		7.990%		AL - 44.18%		Paid Off - 360		12/1/2004
92450220 2			480,000.00		479,553.26		08-Dec-2004		6.350%		MA - 76.80%		Paid Off - 360		11/1/2004
92619428 1			261,000.00		260,737.68		17-Nov-2004		5.950%		CA - 90.00%		Paid Off - 360		11/1/2004
92671429 1			144,000.00		143,932.81		24-Nov-2004		9.750%		GA - 90.00%		Paid Off - 360		11/1/2004
92671429 1			144,000.00		143,932.81				9.750%		GA - 90.00%		Paid Off - 360



Page 18 of 25
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Mortgage Pass-Through Certificates
2004-R11

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

92874189 1			95,000.00		94,936.89		07-Dec-2004		8.050%		NJ - 63.08%		Paid Off - 360		11/1/2004
92874189 1			95,000.00		94,936.89		07-Dec-2004		8.050%		NJ - 63.08%		Paid Off - 360		11/1/2004
93385748 1			140,000.00		139,949.97		23-Nov-2004		10.990%		NJ - 74.87%		Paid Off - 360		11/1/2004
93681526 1			108,000.00		107,932.52		23-Nov-2004		8.350%		MN - 80.00%		Paid Off - 360		11/1/2004
93711281 1			233,750.00		233,661.03		07-Dec-2004		10.700%		FL - 85.00%		Paid Off - 360		11/1/2004
93950723 1			277,800.00		277,522.92		02-Nov-2004		5.990%		NY - 72.16%		Paid Off - 360		11/1/2004
93986842 1			165,000.00		164,895.85		01-Dec-2004		8.300%		HI - 62.12%		Paid Off - 360		11/1/2004
94216926 2			693,000.00		692,580.17		10-Dec-2004		8.500%		CA - 81.24%		Paid Off - 360		11/1/2004
94419405 2			340,400.00		340,241.18		26-Nov-2004		9.750%		WI - 78.30%		Paid Off - 360		11/1/2004
87725164 1			79,950.00		79,908.55		19-Nov-2004		9.250%		FL - 65.00%		Repur/Subs - 360		11/1/2004
88080841 1			110,400.00		109,982.25		19-Nov-2004		7.400%		IA - 80.00%		Repur/Subs - 360		10/1/2004
89213987 2			400,000.00		399,493.31		19-Nov-2004		8.300%		CA - 71.43%		Repur/Subs - 360		10/1/2004
90471301 1			73,000.00		72,651.79		19-Nov-2004		9.650%		TX - 75.26%		Repur/Subs - 360		11/1/2004
91149203 2			595,000.00		594,558.42		19-Nov-2004		7.500%		FL - 77.27%		Repur/Subs - 360		11/1/2004
91686568 1			108,000.00		107,145.03		22-Nov-2004		7.750%		CA - 74.48%		Repur/Subs - 360		11/1/2004
92530021 1			246,000.00		244,872.74		19-Nov-2004		6.500%		NV - 76.88%		Repur/Subs - 360		11/1/2004
92535087 1			225,250.00		225,056.06		09-Dec-2004		6.750%		CA - 85.00%		Repur/Subs - 360		11/1/2004
92879006 1			452,000.00		451,607.01		19-Nov-2004		6.700%		NY - 80.00%		Repur/Subs - 360		11/1/2004
93037687 2			680,000.00		679,500.36		09-Nov-2004		7.550%		CT - 64.76%		Repur/Subs - 360		11/1/2004
93148047 2			411,120.00		410,883.46		09-Dec-2004		8.750%		CA - 90.00%		Repur/Subs - 360		11/1/2004
93206928 1			67,500.00		67,470.77		10-Nov-2004		10.100%		NC - 75.00%		Repur/Subs - 360		11/1/2004
93373181 2			343,733.00		341,031.83		19-Nov-2004		6.900%		WA - 89.28%		Repur/Subs - 360		11/1/2004
93691384 1			98,000.00		97,943.61		11-Nov-2004		8.750%		MO - 70.00%		Repur/Subs - 360		11/1/2004
93739464 1			326,000.00		325,699.52		19-Nov-2004		6.450%		MA - 82.12%		Repur/Subs - 360		11/1/2004
93828069 1			170,000.00		169,951.89		09-Nov-2004		12.050%		CT - 85.00%		Repur/Subs - 360		11/1/2004
93927143 1			87,000.00		86,948.89		10-Nov-2004		8.650%		NJ - 75.00%		Repur/Subs - 360		11/1/2004
94206000 1			148,750.00		148,654.17		12-Nov-2004		8.200%		WI - 85.00%		Repur/Subs - 360		11/1/2004
94221306 2			691,050.00		676,368.37		19-Nov-2004		7.250%		CA - 85.00%		Repur/Subs - 360		11/1/2004
94297769 1			207,000.00		206,892.69		09-Nov-2004		9.250%		NJ - 90.00%		Repur/Subs - 360		11/1/2004
94308582 1			351,500.00		350,027.74		19-Nov-2004		5.750%		IL - 70.81%		Repur/Subs - 360		11/1/2004
94435948 1			135,900.00		135,482.43		19-Nov-2004		6.800%		NJ - 90.00%		Repur/Subs - 360		11/1/2004
94785862 1			152,875.00		152,749.44		09-Nov-2004		7.150%		AL - 80.00%		Repur/Subs - 360		11/1/2004
95004503 1			249,000.00		249,000.00		19-Nov-2004		7.700%		NY - 60.00%		Repur/Subs - 360		12/1/2004


TOTAL			16,074,571.00		16,034,258.46
TOTAL


Page 19 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

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 20 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

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 21 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

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 22 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

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 23 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

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													426,731.70
Delinquency Percentage													0.0300%
Balance of Mezzanine and C Class													197,249,897.74
Ending Balance													1,182,837,509.15
Credit Enhancement Percentage													13.3000%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Current LIBOR Rate													2.050000%
Next LIBOR Rate													2.416880%




Page 24 of 25
Ameriquest Mortgage Securities, Inc. 2004-R11

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-R11

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
			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		$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		#######
									4.22%			$0.00		#######
			M-8						4.42%			$0.00		#######
									4.42%			$0.00		#######
			M-9						5.92%			$0.00		#######
									5.92%			$0.00		#######
			M-10						4.92%			$0.00		#######
									4.92%			$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






Page 25 of 25

Filing Compare · AMERIQUEST MORTGAGE SECURITIES INC. ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 2004-R11