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): ~~September~~December 27, 2004 (Date of earliest event reported): Argent Securities Inc. (as Depositor under the Pooling and Servicing Agreement, dated as June 1, 2004, providing for the issuance of Asset-Backed Pass-Through Certificates, Series 2004-PW1) (Exact name of registrant as specified in charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-112237-02 77-0599834 (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 ~~September~~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 Argent Mortgage Securities Inc., Registrant Date: ~~Sep~~Dec 27, 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 ~~September~~December 27, 2004.

	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	September 27, 2004 Distribution
	December 27, 2004 Distribution
	Contents
			TABLE OF CONTENTS
								Page
			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				14
			8.	Foreclosure Report				15
			9.	Prepayment Report				16
			10.	Prepayment Detail Report				19
			11.	Realized Loss Report				20
			12.	Realized Loss Detail Report				23
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				24
			14.	Other Related Information				25
				Total Number of Pages				25
			CONTACTS
				Administrator: Valerie Delgado
				Direct Phone Number: (714)247-6273
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: https://www.corporatetrust.db.com/invr
				Web Site: https://www.tss.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Ameriquest Mortgage Corp					Cut-Off Date: June 1, 2004
	Certificate Insurer(s):							Closing Date: June 7, 2004
								First Payment Date: July 26, 2004
	Servicer(s):		Ameriquest Mortgage Corp Master Servicer
								Distribution Date: September 27, 2004
								Distribution Date: December 27, 2004
	Underwriter(s):		Lead Underwriter					Record Date: ~~September~~December 24, 2004
			Banc of America Securities LLC Lead Underwriter					~~August~~November 3130, 2004
			Goldman, Sachs & Co.
			Merrill Lynch & Co.
			Deutsche Bank Securities
						Page 1 of 25					© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	REMIC II Upper Tier Remic
	Certificate Payment Report for September 27, 2004 Distribution
	Certificate Payment Report for December 27, 2004 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	FLT, STEP	192,771,000.00			~~185~~169,~~648~~067,~~199~~588.1873	~~320~~356,~~784~~685.6265	36,~~996~~085,~~599~~803.4972	46,~~317~~442,~~384~~489.1137	-	-	~~181~~162,~~651~~981,~~599~~785.6901
A-2	FLT, STEP	21,419,000.00			21,419,000.00	4250,~~704~~536.1394	-	4250,~~704~~536.1394	-	-	21,419,000.00
A-3	FLT, STEP	50,060,000.00			4742,~~934~~093,~~857~~820.4826	8490,~~585~~256.0517	2,~~219~~721,~~444~~888.3928	2,~~304~~812,~~029~~144.4445	-	-	4539,~~715~~371,~~413~~931.0998
IO-1	FLT, STEP	-			-	~~461~~431,~~700~~325.00	-	~~461~~431,~~700~~325.00	-	-	-
IO-2	FLT, STEP	-			-	~~108~~101,~~300~~175.00	-	~~108~~101,~~300~~175.00	-	-	-
M-1	MEZ, FLT, S	16,275,000.00			16,275,000.00	3238,~~672~~610.0618	-	3238,~~672~~610.0618	-	-	16,275,000.00
M-2	MEZ, FLT, S	18,025,000.00			18,025,000.00	3643,~~598~~149.2685	-	3643,~~598~~149.2685	-	-	18,025,000.00
M-3	MEZ, FLT, S	7,525,000.00			7,525,000.00	1518,~~968~~662.6800	-	1518,~~968~~662.6800	-	-	7,525,000.00
M-4	MEZ, FLT, S	6,825,000.00			6,825,000.00	1720,~~924~~158.1640	-	1720,~~924~~158.1640	-	-	6,825,000.00
M-5	MEZ, FLT, S	8,750,000.00			8,750,000.00	2426,~~182~~974.8131	-	2426,~~182~~974.8131	-	-	8,750,000.00
M-6	MEZ, FLT, S	3,850,000.00			3,850,000.00	1113,~~875~~029.6504	-	1113,~~875~~029.6504	-	-	3,850,000.00
M-7	MEZ, FLT, S	6,475,000.00			6,475,000.00	2325,~~711~~425.9917	-	2325,~~711~~425.9917	-	-	6,475,000.00
M-8	MEZ, FLT, S	3,850,000.00			3,850,000.00	1516,~~581~~510.2708	-	1516,~~581~~510.2708	-	-	3,850,000.00
M-9	MEZ, FLT, S	4,900,000.00			4,900,000.00	2122,~~851~~911.9658	-	2122,~~851~~911.9658	-	-	4,900,000.00
M-10	MEZ, FLT, S	4,375,000.00			4,375,000.00	1920,~~510~~456.6877	-	1920,~~510~~456.6877	-	-	4,375,000.00
M-11	MEZ, FLT, S	4,900,000.00			4,900,000.00	2122,~~851~~911.9658	-	2122,~~851~~911.9658	-	-	4,900,000.00
CE	SUB,EXE	-			13,~~382~~383,~~869~~309.9482	1.1349	-	1.1349	-	~~674~~518,~~637~~802.7364	23,~~057~~902,~~507~~112.6746
P	SUB	100.00			100.00	48170,~~895~~526.9691	-	48170,~~895~~526.9691	-	-	100.00
R	R	-			-	-	-	-	-	-	-
Total		350,000,100.00			~~342~~321,~~135~~713,~~026~~818.6081	1,~~308~~469,~~700~~306.3712	68,~~216~~807,~~043~~692.8800	710,~~524~~276,~~744~~998.2512	-	~~674~~518,~~637~~802.7364	~~336~~313,~~593~~424,~~620~~929.45
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A-1	0811/2526/04	0912/26/04		A-Act/360	040104KU4	192,771,000.00	~~963~~877.~~050455~~038500	1.~~664071~~850308	2031.~~732369~~570121	2233.~~396440~~420428	~~942~~845.~~318086~~468380
A-2	0811/2526/04	0912/26/04		A-Act/360	040104KG5	21,419,000.00	1,000.000000	12.~~993750~~359444	-	12.~~993750~~359444	1,000.000000
A-3	0811/2526/04	0912/26/04		A-Act/360	040104KH3	50,060,000.00	~~957~~840.~~548092~~867364	1.~~689673~~802960	4454.~~335685~~372519	4656.~~025358~~175478	~~913~~786.~~212407~~494846
IO-1	0811/2526/04	0912/26/04		A-Act/360	040104KJ9	123,120,000.00	~~1,000~~934.~~000000~~210526	3.~~750000~~503289	-	3.~~750000~~503289	~~934~~756.~~210526~~578947
IO-2	0811/2526/04	0912/26/04		A-Act/360	040104LK5	28,880,000.00	~~1,000~~934.~~000000~~210526	3.~~750000~~503289	-	3.~~750000~~503289	~~934~~756.~~210526~~578947
M-1	0811/2526/04	0912/26/04		A-Act/360	040104KK6	16,275,000.00	1,000.000000	2.~~007500~~372361	-	2.~~007500~~372361	1,000.000000
M-2	0811/2526/04	0912/26/04		A-Act/360	040104KL4	18,025,000.00	1,000.000000	2.~~030417~~393889	-	2.~~030417~~393889	1,000.000000
M-3	0811/2526/04	0912/26/04		A-Act/360	040104KM2	7,525,000.00	1,000.000000	2.~~122084~~480000	-	2.~~122084~~480000	1,000.000000
M-4	0811/2526/04	0912/26/04		A-Act/360	040104KN0	6,825,000.00	1,000.000000	2.~~626251~~953612	-	2.~~626251~~953612	1,000.000000
M-5	0811/2526/04	0912/26/04		A-Act/360	040104KP5	8,750,000.00	1,000.000000	23.~~763750~~082778	-	23.~~763750~~082778	1,000.000000
M-6	0811/2526/04	0912/26/04		A-Act/360	040104KQ3	3,850,000.00	1,000.000000	3.~~084584~~384166	-	3.~~084584~~384166	1,000.000000
M-7	0811/2526/04	0912/26/04		A-Act/360	040104KR1	6,475,000.00	1,000.000000	3.~~662083~~926667	-	3.~~662083~~926667	1,000.000000
M-8	0811/2526/04	0912/26/04		A-Act/360	040104KS9	3,850,000.00	1,000.000000	4.~~047083~~288332	-	4.~~047083~~288332	1,000.000000
M-9	0811/2526/04	0912/26/04		A-Act/360	040104KT7	4,900,000.00	1,000.000000	4.~~459584~~675833	-	4.~~459584~~675833	1,000.000000
M-10	0811/2526/04	0912/26/04		A-Act/360	040104KV2	4,375,000.00	1,000.000000	4.~~459584~~675833	-	4.~~459584~~675833	1,000.000000
M-11	0811/2526/04	0912/26/04		A-Act/360	040104KW0	4,900,000.00	1,000.000000	4.~~459584~~675833	-	4.~~459584~~675833	1,000.000000
CE	0811/2526/04	0912/26/04		A-30/360		-	-	-	-	-	-
P	0811/2526/04	0912/26/04		-		100.00	1,000.000000	~~488~~1,~~959~~705,269.~~600000~~100000	-	~~488~~1,~~959~~705,269.~~600000~~100000	1,000.000000
R	0811/2526/04	0912/26/04		-		-	-	-	-	-	-
							Page 2 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	REMIC II Upper Tier Remic
	Certificate Payment Report for September 27, 2004 Distribution
	Certificate Payment Report for December 27, 2004 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	192,771,000.00		~~964~~1,~~131~~962,464.6861		1028,~~518~~592,~~699~~211.2951	~~600~~1,~~701~~197,003.0248	1129,~~119~~789,~~400~~214.3199	1231,~~083~~751,~~531~~679.9960	-	-	~~181~~162,~~651~~981,~~599~~785.6901
A-2	21,419,000.00		~~128~~266,~~433~~407.6873		-	-	-	~~128~~266,~~433~~407.6873	-	-	21,419,000.00
A-3	50,060,000.00		~~256~~509,~~036~~382.9020		410,~~119~~263,~~219~~397.1971	~~225~~424,~~367~~670.7231	410,~~344~~688,~~586~~068.9102	411,~~600~~197,~~623~~450.8122	-	-	4539,~~715~~371,~~413~~931.0998
IO-1	-		12,~~385~~679,~~100~~075.00		-	-	-	12,~~385~~679,~~100~~075.00	-	-	-
IO-2	-		~~324~~628,~~900~~425.00		-	-	-	~~324~~628,~~900~~425.00	-	-	-
M-1	16,275,000.00		98203,~~348~~803.4669		-	-	-	98203,~~348~~803.4669	-	-	16,275,000.00
M-2	18,025,000.00		~~110~~228,~~325~~259.5209		-	-	-	~~110~~228,~~325~~259.5209	-	-	18,025,000.00
M-3	7,525,000.00		4899,~~399~~535.3490		-	-	-	4899,~~399~~535.3490	-	-	7,525,000.00
M-4	6,825,000.00		55111,~~575~~443.4173		-	-	-	55111,~~575~~443.4173	-	-	6,825,000.00
M-5	8,750,000.00		75150,~~333~~277.8560		-	-	-	75150,~~333~~277.8560	-	-	8,750,000.00
M-6	3,850,000.00		3773,~~339~~720.1356		-	-	-	3773,~~339~~720.1356	-	-	3,850,000.00
M-7	6,475,000.00		75146,~~488~~987.6100		-	-	-	75146,~~488~~987.6100	-	-	6,475,000.00
M-8	3,850,000.00		4996,~~915~~515.7976		-	-	-	4996,~~915~~515.7976	-	-	3,850,000.00
M-9	4,900,000.00		70135,~~389~~272.1900		-	-	-	70135,~~389~~272.1900	-	-	4,900,000.00
M-10	4,375,000.00		62120,~~847~~778.4957		-	-	-	62120,~~847~~778.4957	-	-	4,375,000.00
M-11	4,900,000.00		70135,~~389~~272.1900		-	-	-	70135,~~389~~272.1900	-	-	4,900,000.00
CE	-		26.0607		-	-	-	26.0607	-	23,~~057~~902,~~507~~112.6746	23,~~057~~902,~~507~~112.6746
P	100.00		~~120~~511,~~595~~153.5321		-	-	-	~~120~~511,~~595~~153.5321	-	-	100.00
R	-		-		-	-	-	-	-	-	-
Total	350,000,100.00		38,~~933~~058,~~551~~779.8372		1438,~~637~~855,~~918~~609.4822	~~826~~1,~~068~~621,673.7479	1540,~~463~~477,~~987~~283.2201	1948,~~397~~536,~~539~~062.0573	-	23,~~057~~902,~~507~~112.6746	~~336~~313,~~593~~424,~~620~~929.45
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	12.~~88500~~45000%	~~185~~169,~~648~~067,~~199~~588.1873			~~320~~356,~~784~~685.6265	-	-	-	~~320~~356,~~784~~685.6265	~~320~~356,~~784~~685.6265	-
A-2	2.~~17500~~74000%	21,419,000.00			4250,~~704~~536.1394	-	-	-	4250,~~704~~536.1394	4250,~~704~~536.1394	-
A-3	12.~~92500~~49000%	4742,~~934~~093,~~857~~820.4826			8490,~~585~~256.0517	-	-	-	8490,~~585~~256.0517	8490,~~585~~256.0517	-
IO-1	4.50000%	~~123~~115,~~120~~020,000.00			~~461~~431,~~700~~325.00	-	-	-	~~461~~431,~~700~~325.00	~~461~~431,~~700~~325.00	-
IO-2	4.50000%	2826,~~880~~980,000.00			~~108~~101,~~300~~175.00	-	-	-	~~108~~101,~~300~~175.00	~~108~~101,~~300~~175.00	-
M-1	2.~~19000~~75500%	16,275,000.00			3238,~~672~~610.0618	-	-	-	3238,~~672~~610.0618	3238,~~672~~610.0618	-
M-2	2.~~21500~~78000%	18,025,000.00			3643,~~598~~149.2685	-	-	-	3643,~~598~~149.2685	3643,~~598~~149.2685	-
M-3	2.~~31500~~88000%	7,525,000.00			1518,~~968~~662.6800	-	-	-	1518,~~968~~662.6800	1518,~~968~~662.6800	-
M-4	23.~~86500~~43000%	6,825,000.00			1720,~~924~~158.1640	-	-	-	1720,~~924~~158.1640	1720,~~924~~158.1640	-
M-5	3.~~01500~~58000%	8,750,000.00			2426,~~182~~974.8131	-	-	-	2426,~~182~~974.8131	2426,~~182~~974.8131	-
M-6	3.~~36500~~93000%	3,850,000.00			1113,~~875~~029.6504	-	-	-	1113,~~875~~029.6504	1113,~~875~~029.6504	-
M-7	34.~~99500~~56000%	6,475,000.00			2325,~~711~~425.9917	-	-	-	2325,~~711~~425.9917	2325,~~711~~425.9917	-
M-8	4.~~41500~~98000%	3,850,000.00			1516,~~581~~510.2708	-	-	-	1516,~~581~~510.2708	1516,~~581~~510.2708	-
M-9	45.~~86500~~43000%	4,900,000.00			2122,~~851~~911.9658	-	-	-	2122,~~851~~911.9658	2122,~~851~~911.9658	-
M-10	45.~~86500~~43000%	4,375,000.00			1920,~~510~~456.6877	-	-	-	1920,~~510~~456.6877	1920,~~510~~456.6877	-
M-11	45.~~86500~~43000%	4,900,000.00			2122,~~851~~911.9658	-	-	-	2122,~~851~~911.9658	2122,~~851~~911.9658	-
CE	21.~~16629~~86894%	13,~~382~~383,~~869~~309.9482			1.1349	-	-	-	1.1349	~~674~~518,~~638~~804.8613	~~617~~501,~~637~~052.3624
P		100.00			48170,~~895~~526.9691	-	-	-	48170,~~895~~526.9691	48170,~~895~~526.9691	-
R		-			-	-	-	-	-	-	-
Total		~~494~~463,~~135~~713,~~026~~818.6081			1,~~308~~469,~~700~~306.3712	-	-	-	1,~~308~~469,~~700~~306.3712	1,~~983~~988,~~338~~108.1076	~~617~~501,~~637~~052.3624
							Page 3 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Collection Account Report for September 27, 2004 Distribution
	Collection Account Report for December 27, 2004 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					12,~~978~~561,~~564~~559.3592	35,~~562~~727,~~842~~330.93	58,~~541~~288,~~407~~890.2885
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					12,~~978~~561,~~564~~559.3592	35,~~562~~727,~~842~~330.93	58,~~541~~288,~~407~~890.2885
	Interest Collections					~~347~~318,~~982~~344.8547	1,~~614~~521,~~214~~265.8591	1,~~962~~839,~~197~~610.7038
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(5,~~932~~159.8294)	(2116,~~823~~870.8708)	(2722,~~756~~030.6902)
	TOTAL NET INTEREST					~~342~~313,~~050~~184.0353	1,~~592~~504,~~390~~395.9883	1,~~934~~817,~~441~~580.0136
	Prepayment Penalties							48170,~~895~~526.9691
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION					2,~~320~~874,~~614~~744.3845	57,~~155~~231,~~233~~726.9176	710,~~524~~276,~~744~~998.2512
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					5450,~~536~~585.0363	~~218~~210,~~950~~136.3359	~~273~~260,~~486~~722.3622
	Prepayments In Full					12,~~922~~508,~~467~~141.5906	35,~~316~~654,~~629~~132.8800	58,~~239~~162,~~097~~273.4706
	Curtailments					12,~~560~~833.7323	27(136,~~261~~939.5915)	28(134,~~822~~105.3292)
	Liquidations					0.00	0.00	0.00
	Insurance Principal					0.00	0.00	0.00
	Repurchased Principal Amounts					0.00	0.00	0.00
	Other Principal					0.00	0.00	0.00
	Total Realized Loss Of Principal					0.00	0.00	0.00
	Delinquent Principal					(4441,~~306~~977.4274)	(~~181~~183,~~802~~373.6931)	(~~226~~225,~~109~~351.1105)
	Advanced Principal					4441,~~306~~977.4274	~~181~~183,~~802~~373.6931	~~226~~225,~~109~~351.1105
	TOTAL PRINCIPAL COLLECTED					12,~~978~~561,~~564~~559.3592	35,~~562~~727,~~842~~330.93	58,~~541~~288,~~407~~890.2885
				Page 4 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Collection Account Report for September 27, 2004 Distribution
	Collection Account Report for December 27, 2004 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Interest					~~369~~338,~~316~~210.4493	1,~~709~~615,~~733~~347.6414	21,~~079~~953,~~050~~558.0807
	Liquidation Interest					0.00	0.00	0.00
	Repurchased Interest					0.00	0.00	0.00
	Insurance Interest					0.00	0.00	0.00
	Other Interest					0.00	0.00	0.00
	Relief Act Interest Shortfalls					0.00	0.00	0.00
	Prepayment Interest Shortfalls					(~~474~~726.01)	(13,~~917~~956.8807)	(24,~~391~~682.8908)
	Compensating Interest					~~474~~726.01	13,~~917~~956.8807	24,~~391~~682.8908
	Delinquent Interest					(~~294~~274,~~251~~649.4294)	(1,~~416~~392,~~018~~286.3509)	(1,~~710~~666,~~269~~936.7703)
	Interest Advanced					~~272~~254,~~917~~783.8348	1,~~320~~298,~~499~~204.5686	1,~~593~~552,~~417~~988.3934
	TOTAL INTEREST COLLECTED					~~347~~318,~~982~~344.8547	1,~~614~~521,~~214~~265.8591	1,~~962~~839,~~197~~610.7038
				Page 5 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Collection Account Report for September 27, 2004 Distribution
	Collection Account Report for December 27, 2004 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
	Trust Fund Expenses							0.00
	Nonrecoverable Advances							0.00
	Reimbursements to Master Servicer							0.00
	TOTAL INTEREST WITHDRAWALS							0.00
INTEREST - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	Prepayment Charges							48170,~~895~~526.9691
	TOTAL INTEREST OTHER ACCOUNTS					0.00	0.00	48170,~~895~~526.9691
INTEREST - FEES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					54,~~545~~804.7668	2015,~~158~~295.1206	2520,~~703~~099.8874
	Trustee Fee					~~387~~355.0626	1,~~665~~575.7502	21,~~052~~930.8128
	PMI Fees					0.00	0.00	0.00
	TOTAL INTEREST OTHER FEES					5,~~932~~159.8294	2116,~~823~~870.8708	2722,~~756~~030.6902
				Page 6 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for September 27, 2004 Distribution
	Credit Enhancement Report for December 27, 2004 Distribution
	Credit Enhancement Report
ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	Net WAC Rate Carryover Reserve Account							1,000.00
INSURANCE						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES						GROUP 2	GROUP 1	TOTAL
	Beginning Overcollateralized Amount							03,383,309.0081
	Overcollateralization Reduction Amount							0.00
	Ending Overcollateralization Amount							23,~~057~~902,~~507~~112.6645
	Overcollateralization Target Amount							9,975,002.85
	Excess Overcollateralization Amount							0.00
	Overcollateralization Increase Amount							~~674~~518,~~637~~802.7364
				Page 7 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Collateral Report for September 27, 2004 Distribution
	Collateral Report for December 27, 2004 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					161	1856	2017
	Prior					~~157~~144	1,~~819~~734	1,~~976~~878
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(56)	(2030)	(2536)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					~~152~~138	1,~~799~~705	1,~~951~~843
	Principal Balance:
	Original					66,309,255.82	283,686,910.77	349,996,166.59
	Prior					6459,~~510~~210,~~454~~734.8537	~~277~~262,~~624~~503,~~571~~084.7443	~~342~~321,~~135~~713,~~026~~818.5980
	Prefunding					-	-	-
	Scheduled Principal					(5450,~~536~~585.0363)	(~~218~~210,~~950~~136.3359)	(~~273~~260,~~486~~722.3622)
	Partial and Full Voluntary Prepayments					(12,~~924~~510,~~028~~974.3229)	(35,~~343~~517,~~891~~192.4785)	(58,~~267~~028,~~919~~167.7914)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					6256,~~531~~649,~~890~~174.5045	~~274~~256,~~061~~775,~~729~~754.9499	~~336~~313,~~593~~424,~~620~~929.44
PREFUNDING						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	Group 1
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Collateral Report for September 27, 2004 Distribution
	Collateral Report for December 27, 2004 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original					6.877036%	7.396392%	7.297996%
	Weighted Average Coupon Prior					6.~~864581~~854424%	7.~~394530~~388539%	7.~~294220~~290325%
	Weighted Average Coupon Current					6.~~869890~~854384%	7.~~390125~~384357%	7.~~292034~~286817%
	Weighted Average Months to Maturity Original					358	357	357
	Weighted Average Months to Maturity Prior					~~357~~354	~~356~~353	~~356~~353
	Weighted Average Months to Maturity Current					~~356~~353	~~355~~352	~~355~~352
	Weighted Avg Remaining Amortization Term Original					357	356	356
	Weighted Avg Remaining Amortization Term Prior					~~356~~353	~~355~~352	~~355~~352
	Weighted Avg Remaining Amortization Term Current					~~355~~352	~~354~~351	~~354~~351
	Weighted Average Seasoning Original					2.88	3.04	3.01
	Weighted Average Seasoning Prior					36.88	47.04	47.01
	Weighted Average Seasoning Current					47.8887	58.04	58.01
Note: Original information refers to deal issue.
	Group 1
	Group 2
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Collateral Report for September 27, 2004 Distribution
	Collateral Report for December 27, 2004 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					4.716%	4.596%
	Weighted Average Margin Prior					4.~~701~~632%	4.~~589~~576%
	Weighted Average Margin Current					4.~~677~~646%	4.~~591~~570%
	Weighted Average Max Rate Original					10.779%	11.436%
	Weighted Average Max Rate Prior					10.~~741~~686%	11.~~420~~403%
	Weighted Average Max Rate Current					10.~~718~~721%	11.~~421~~384%
	Weighted Average Min Rate Original					5.761%	6.315%
	Weighted Average Min Rate Prior					5.~~735~~709%	6.~~306~~295%
	Weighted Average Min Rate Current					5.~~725~~728%	6.~~306~~281%
	Weighted Average Cap Up Original					0.836%	0.853%
	Weighted Average Cap Up Prior					0.~~834~~829%	0.~~852~~851%
	Weighted Average Cap Up Current					0.832%	0.~~853~~850%
	Weighted Average Cap Down Original					0.836%	0.853%
	Weighted Average Cap Down Prior					0.~~834~~829%	0.~~852~~851%
	Weighted Average Cap Down Current					0.832%	0.~~853~~850%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					54,~~545~~804.7668	2015,~~158~~295.1206	2520,~~703~~099.8874
	Delinquent Servicing Fees					2119,~~333~~866.6046	9594,~~518~~081.7923	~~116~~113,~~852~~947.3969
	TOTAL SERVICING FEES					2624,~~879~~671.3614	~~115~~109,~~676~~376.9129	~~142~~134,~~556~~047.2743
	Compensating Interest					(~~474~~726.01)	(13,~~917~~956.8807)	(24,~~391~~682.8908)
	Aggregate Advances with respect to this Distribution					~~317~~296,~~224~~761.2522	1,~~502~~481,~~302~~578.2517	1,~~819~~778,~~526~~339.5039
	Current Nonrecoverable Advances					0.00	0.00	0.00
	Cumulative Nonrecoverable Advances					0.00	0.00	0.00
ADDITIONAL COLLATERAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Net Prepayment Interest Shortfall					0.00	0.00	0.00
	Aggregate Relief Act Shortfalls							0.00
				Page 10 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Delinquency Report for September 27, 2004 Distribution
	Delinquency Report for December 27, 2004 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			34,~~680~~469,~~834~~652.3869	24,~~927~~784,~~178~~708.8406	-1,511,988.58	610,~~608~~766,~~013~~349.2233
		% Balance			1.0943%	01.8753%	0.0048%	13.9644%
		# Loans			2233	2127	-12	4372
		% # Loans			1.1379%	1.0847%	0.0065%	23.2091%
FORECLOSURE		Balance		-	-	-	~~237~~4,~~564~~080,745.0784	~~237~~4,~~564~~080,745.0784
		% Balance		0.00%	0.00%	0.00%	01.0730%	01.0730%
		# Loans		-	-	-	226	226
		% # Loans		0.00%	0.00%	0.00%	01.1041%	01.1041%
BANKRUPTCY		Balance		-814,317.08	-	-274,638.71	-642,734.44	-1,731,690.23
		% Balance		0.0026%	0.00%	0.0009%	0.0021%	0.0055%
		# Loans		-6	-	-2	-4	-12
		% # Loans		0.0033%	0.00%	0.0011%	0.0022%	0.0065%
REO		Balance		-	-	-	-535,181.93	-535,181.93
		% Balance		0.00%	0.00%	0.00%	0.0017%	0.0017%
		# Loans		-	-	-	-4	-4
		% # Loans		0.00%	0.00%	0.00%	0.0022%	0.0022%
TOTAL		Balance		-814,317.08	34,~~680~~469,~~834~~652.3869	25,~~927~~059,~~178~~346.8477	~~237~~6,~~564~~770,650.0779	617,~~845~~113,~~577~~967.2933
		% Balance		0.0026%	1.0943%	01.8761%	02.0716%	25.0346%
		# Loans		-6	2233	2129	246	45114
		% # Loans		0.0033%	1.1379%	1.0857%	02.1050%	26.3119%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 11 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Delinquency Report for September 27, 2004 Distribution
	Delinquency Report for December 27, 2004 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			24,~~430~~469,~~591~~652.7169	23,~~927~~693,~~178~~280.8495	-1,511,988.58	59,~~357~~674,~~770~~922.5522
		% Balance			01.8974%	1.0744%	0.0059%	13.9577%
		# Loans			1933	2124	-12	4069
		% # Loans			1.0694%	1.1741%	0.0070%	24.2205%
FORECLOSURE		Balance		-	-	-	~~237~~3,~~564~~258,694.0719	~~237~~3,~~564~~258,694.0719
		% Balance		0.00%	0.00%	0.00%	01.0927%	01.0927%
		# Loans		-	-	-	224	224
		% # Loans		0.00%	0.00%	0.00%	01.1141%	01.1141%
BANKRUPTCY		Balance		-814,317.08	-	-274,638.71	-642,734.44	-1,731,690.23
		% Balance		0.0032%	0.00%	0.0011%	0.0025%	0.0067%
		# Loans		-6	-	-2	-4	-12
		% # Loans		0.0035%	0.00%	0.0012%	0.0023%	0.0070%
REO		Balance		-	-	-	-535,181.93	-535,181.93
		% Balance		0.00%	0.00%	0.00%	0.0021%	0.0021%
		# Loans		-	-	-	-4	-4
		% # Loans		0.00%	0.00%	0.00%	0.0023%	0.0023%
TOTAL		Balance		-814,317.08	24,~~430~~469,~~591~~652.7169	23,~~927~~967,~~178~~919.8466	~~237~~5,~~564~~948,599.0714	515,~~595~~200,~~334~~488.6257
		% Balance		0.0032%	01.8974%	1.0755%	02.0932%	25.0492%
		# Loans		-6	1933	2126	244	42109
		% # Loans		0.0035%	1.0694%	1.1752%	02.1158%	26.3339%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 12 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Delinquency Report for September 27, 2004 Distribution
	Delinquency Report for December 27, 2004 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			~~1,250,242.67~~-	-1,091,427.11	-	1,~~250~~091,~~242~~427.6711
		% Balance			20.00%	01.0093%	0.00%	21.0093%
		# Loans			3-	-3	-	3
		% # Loans			10.9700%	02.0017%	0.00%	12.9717%
FORECLOSURE		Balance		-	-	-	-822,051.65	-822,051.65
		% Balance		0.00%	0.00%	0.00%	01.0045%	01.0045%
		# Loans		-	-	-	-2	-2
		% # Loans		0.00%	0.00%	0.00%	01.0045%	01.0045%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	~~1,250,242.67~~-	-1,091,427.11	-822,051.65	1,~~250~~913,~~242~~478.6776
		% Balance		0.00%	20.00%	01.0093%	01.0045%	23.0038%
		# Loans		-	3-	-3	-2	35
		% # Loans		0.00%	10.9700%	02.0017%	01.0045%	13.9762%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 13 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	REO Report for September 27, 2004 Distribution
	REO Report for December 27, 2004 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group 1; REO Book Value = 000.00
Total Loan Count = 3				Loan Group 1 = Group 1; REO Book Value = Not Available
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2; REO Book Value = 000.00
Total Original Principal Balance = 432,325.00				Loan Group 2 = Group 2; REO Book Value = Not Available
Total Current Balance = 000.00
Total Current Balance = 429,607.62
REO Book Value = 000.00
REO Book Value = Not Available
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
56433436 1		148,500.00	147,413.35	May-01-04	6.538%	GA - 90.00%	360	Mar-03-04
56713712 1		132,300.00	131,414.48	Apr-01-04	7.000%	CO - 90.00%	360	Mar-05-04
57002859 1		151,525.00	150,779.79	May-01-04	8.550%	TX - 95.00%	360	Mar-24-04
				Page 14 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Foreclosure Report for September 27, 2004 Distribution
	Foreclosure Report for December 27, 2004 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 2				Loan Group 1 = Group 1
Total Loan Count = 11				Loan Group 1 = Group 1
Total Original Principal Balance = 238,500.00				Loan Group 2 = Group 2
Total Original Principal Balance = 1,294,994.00				Loan Group 2 = Group 2
Total Current Balance = 237,564.07
Total Current Balance = 1,287,472.79
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
56658933 1		106,200.00	105,812.68	Apr-01-04	7.650%	GA - 90.00%	360	Mar-04-04
56154990 1		88,894.00	88,320.03	Jun-01-04	7.800%	NM - 95.00%	360	Mar-01-04
56713712 1		132,300.00	131,751.39	Apr-01-04	7.000%	CO - 90.00%	360	Mar-05-04
56395452 1		142,500.00	141,847.45	Jul-01-04	8.900%	FL - 93.14%	360	Mar-09-04
56415771 1		61,200.00	60,856.90	Jul-01-04	7.900%	MS - 90.00%	360	Mar-23-04
56560972 1		73,150.00	72,597.59	May-01-04	7.000%	OH - 95.00%	360	Mar-02-04
56613813 1		66,850.00	66,493.56	Jun-01-04	8.150%	NE - 87.39%	360	Mar-19-04
56792534 1		127,300.00	126,564.71	Jun-01-04	7.750%	AZ - 95.00%	360	Mar-19-04
56975451 1		90,900.00	90,369.62	Jul-01-04	7.850%	AZ - 90.00%	360	Mar-17-04
57142119 1		64,600.00	64,215.59	Jul-01-04	7.600%	NV - 95.00%	360	Mar-29-04
57365173 1		301,500.00	299,670.23	Jul-01-04	7.500%	NY - 90.00%	360	Mar-31-04
58283417 1		66,600.00	66,386.54	Jun-01-04	9.200%	MI - 90.00%	360	May-20-04
73362980 1		211,500.00	210,150.57	Jul-01-04	7.500%	TX - 90.00%	360	Mar-30-04
				Page 15 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report for December 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					56	2030	2536
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					56	2030	2536
	Paid in Full Balance					12,~~922~~508,~~467~~141.5906	35,~~316~~654,~~629~~132.8800	58,~~239~~162,~~097~~273.4706
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					12,~~560~~833.7323	27(136,~~261~~939.5915)	28(134,~~822~~105.3292)
	Total Prepayment Amount					12,~~924~~510,~~028~~974.3229	35,~~343~~517,~~891~~192.4785	58,~~267~~028,~~919~~167.7914
	Cumulative
	Number of Paid in Full Loans					923	56150	65173
	Number of Repurchased Loans					-	12	12
	Total Number of Loans Prepaid in Full					923	57152	66175
	Paid in Full Balance					39,~~604~~320,~~655~~462.2926	825,~~798~~306,~~873~~995.1835	1234,~~403~~627,~~528~~457.4761
	Repurchased Loans Balance					-	~~116~~372,~~857~~364.7486	~~116~~372,~~857~~364.7486
	Curtailments Amount					616,~~090~~858.2262	50(67,~~000~~117.9774)	56(50,~~091~~259.1912)
	Total Prepayment Amount					39,~~610~~337,~~745~~320.5188	825,~~965~~612,~~731~~242.8947	1234,~~576~~949,~~477~~563.4035
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report for December 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					24.9924%	12.2110%	12.5450%
	3 Months Avg SMM					13.8516%	12.07%	12.2127%
	12 Months Avg SMM
	Avg SMM Since Cut-off					12.8551%	1.0757%	1.2174%
	CPR					3040.4957%	1322.5452%	1726.0018%
	3 Months Avg CPR					2031.1095%	1222.0720%	1324.6409%
	12 Months Avg CPR
	Avg CPR Since Cut-off					2026.1026%	1217.0729%	1319.6403%
	PSA					~~3121~~2577.8223%	~~1343~~1400.4353%	~~1696~~1634.3534%
	3 Months Avg PSA Approximation					~~2589~~2323.0226%	~~1494~~1577.1701%	~~1700~~1718.3919%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					~~2589~~2441.0224%	~~1494~~1560.1778%	~~1700~~1726.3999%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report for December 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1
	Group 2
CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off
PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) .......(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*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 and repurchases.
Dates correspond to distribution dates.
				Page 18 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for September 27, 2004 Distribution
	Prepayment Detail Report for December 27, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 25						Loan Group 1 = Group 1
Total Loan Count = 36						Loan Group 1 = Group 1
Total Original Principal Balance = 5,256,876.00						Loan Group 2 = Group 2
Total Original Principal Balance = 8,207,880.00						Loan Group 2 = Group 2
Total Prepayment Amount = 5,239,097.47
Total Prepayment Amount = 8,162,273.06
Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
55667273 1			71,250.00	71,050.38	Aug-24-04	8.950%	IL - 95.00%	Paid Off - 360	Mar-04-04
56123615 1			173,465.00	172,481.28	Dec-08-04	7.150%	AZ - 95.00%	Paid Off - 360	Mar-26-04
55902431 1			88,110.00	87,873.52	Aug-24-04	8.050%	MD - 90.00%	Paid Off - 360	Mar-04-04
56204092 1			247,000.00	245,816.41	Dec-10-04	8.000%	FL - 95.00%	Paid Off - 360	Mar-01-04
55907034 1			144,000.00	143,430.15	Aug-30-04	8.300%	MS - 90.00%	Paid Off - 360	Mar-18-04
56383912 1			202,500.00	201,131.40	Dec-06-04	6.950%	OH - 90.00%	Paid Off - 360	Mar-08-04
55923213 1			218,500.00	215,909.23	Sep-02-04	6.750%	CA - 95.00%	Paid Off - 360	Mar-04-04
56393796 1			71,100.00	70,741.85	Dec-01-04	7.750%	DE - 90.00%	Paid Off - 360	Mar-31-04
56108731 1			81,000.00	80,811.54	Sep-09-04	8.750%	IL - 90.00%	Paid Off - 360	Mar-04-04
56446032 1			237,975.00	236,713.92	Nov-24-04	7.500%	CA - 95.00%	Paid Off - 360	Mar-17-04
56372717 1			62,658.00	62,499.74	Aug-17-04	8.350%	MA - 89.61%	Paid Off - 360	Mar-31-04
56460413 1			189,050.00	188,170.93	Nov-30-04	8.150%	CA - 95.00%	Paid Off - 360	Mar-10-04
56583511 1			232,655.00	231,676.34	Aug-31-04	5.750%	FL - 95.00%	Paid Off - 360	Mar-03-04
56485071 1			148,500.00	147,759.37	Dec-09-04	7.800%	IL - 90.00%	Paid Off - 360	Mar-16-04
56730690 1			217,388.00	216,736.59	Aug-30-04	7.500%	IL - 95.00%	Paid Off - 360	Mar-16-04
56513831 1			126,000.00	124,196.02	Nov-15-04	7.900%	TN - 90.00%	Paid Off - 240	Mar-19-04
56802754 1			265,905.00	265,317.42	Sep-03-04	9.000%	NV - 95.00%	Paid Off - 360	Mar-19-04
56611536 1			120,510.00	119,778.62	Dec-02-04	7.500%	NV - 90.00%	Paid Off - 360	Mar-04-04
56825953 1			95,400.00	95,159.07	Aug-13-04	8.350%	FL - 90.00%	Paid Off - 360	Mar-31-04
56705692 1			157,784.00	157,020.31	Nov-29-04	7.950%	NV - 90.00%	Paid Off - 360	Mar-25-04
56826738 1			74,700.00	74,527.96	Aug-24-04	8.800%	IL - 90.00%	Paid Off - 360	Mar-23-04
56715774 1			143,910.00	142,929.80	Dec-02-04	6.200%	FL - 89.95%	Paid Off - 360	Mar-25-04
56912371 1			189,050.00	188,354.11	Sep-01-04	6.450%	CA - 95.00%	Paid Off - 360	Mar-16-04
56762990 1			146,300.00	145,428.88	Dec-02-04	6.900%	FL - 95.00%	Paid Off - 360	Mar-19-04
56948714 1			296,100.00	295,289.15	Aug-20-04	7.950%	IL - 90.00%	Paid Off - 360	Mar-30-04
56817695 1			129,580.00	128,768.81	Nov-22-04	6.650%	WI - 95.00%	Paid Off - 360	Mar-12-04
57154171 1			148,500.00	147,904.19	Aug-25-04	6.000%	MN - 90.00%	Paid Off - 360	Mar-29-04
56832355 1			249,850.00	248,628.51	Dec-01-04	7.900%	ME - 95.00%	Paid Off - 360	Mar-31-04
57199374 1			189,000.00	188,497.87	Sep-09-04	8.100%	TX - 90.00%	Paid Off - 360	Mar-31-04
56835093 1			170,991.00	170,132.13	Nov-30-04	7.950%	NV - 90.00%	Paid Off - 360	Mar-11-04
57293193 1			85,500.00	85,243.80	Aug-16-04	7.500%	FL - 90.00%	Paid Off - 360	Mar-31-04
56894272 1			408,500.00	406,540.32	Nov-17-04	8.000%	NJ - 95.00%	Paid Off - 360	Mar-16-04
58785692 1			294,500.00	294,043.68	Sep-03-04	7.300%	TN - 95.00%	Paid Off - 360	May-18-04
56920192 1			148,500.00	147,721.62	Dec-01-04	7.550%	DE - 90.00%	Paid Off - 360	Mar-17-04
70279021 1			162,900.00	162,346.12	Aug-27-04	8.000%	IL - 90.00%	Paid Off - 360	Mar-02-04
56924970 1			232,750.00	231,612.14	Dec-03-04	7.900%	FL - 95.00%	Paid Off - 360	Mar-29-04
72906001 1			253,800.00	252,958.87	Aug-31-04	6.990%	CA - 90.00%	Paid Off - 360	Mar-31-04
57002552 1			185,400.00	184,704.27	Nov-24-04	9.200%	IL - 90.00%	Paid Off - 360	Mar-26-04
74377482 1			157,410.00	157,000.15	Aug-19-04	8.200%	CA - 90.00%	Paid Off - 360	Mar-31-04
57080293 1			194,750.00	193,778.69	Nov-19-04	7.800%	FL - 95.00%	Paid Off - 360	Mar-23-04
56997117 2			346,500.00	345,336.17	Sep-02-04	6.950%	CA - 90.00%	Paid Off - 360	Mar-12-04
57219438 1			131,310.00	130,658.59	Dec-07-04	8.050%	CT - 90.00%	Paid Off - 360	Mar-24-04
57078974 2			337,500.00	336,327.83	Aug-25-04	6.750%	CA - 90.00%	Paid Off - 360	Mar-31-04
57261034 1			195,300.00	194,213.94	Nov-18-04	7.250%	CA - 89.79%	Paid Off - 360	Mar-30-04
57158974 2			495,000.00	493,906.21	Aug-31-04	9.000%	IL - 90.99%	Paid Off - 360	Mar-26-04
57285850 1			184,500.00	183,588.93	Dec-03-04	7.850%	NJ - 90.00%	Paid Off - 360	Mar-26-04
57171134 2			399,000.00	397,337.40	Sep-01-04	5.800%	MN - 95.00%	Paid Off - 360	Mar-22-04
57400756 1			208,800.00	207,748.22	Dec-03-04	7.750%	CA - 90.39%	Paid Off - 360	Mar-31-04
58156050 2			350,550.00	349,559.98	Aug-27-04	6.750%	MD - 95.00%	Paid Off - 360	Apr-30-04
57798035 1			70,211.00	69,939.19	Nov-16-04	7.350%	NY - 90.00%	Paid Off - 360	May-04-04
65882961 1			220,500.00	219,443.32	Nov-11-04	8.000%	CA - 90.00%	Paid Off - 360	Mar-19-04
69962421 1			260,100.00	258,639.41	Nov-23-04	7.200%	CA - 90.00%	Paid Off - 360	Mar-05-04
71503163 1			117,000.00	116,396.93	Nov-15-04	7.750%	CA - 90.00%	Paid Off - 360	Mar-08-04
72739766 1			283,000.00	281,344.25	Nov-16-04	6.990%	CA - 89.84%	Paid Off - 360	Mar-12-04
74563743 1			329,850.00	328,103.94	Dec-03-04	7.500%	CA - 90.00%	Paid Off - 360	Mar-30-04
56492754 2			355,300.00	353,036.54	Dec-01-04	6.550%	CA - 95.00%	Paid Off - 360	Mar-25-04
56582596 2			486,350.00	482,900.30	Dec-09-04	6.700%	CA - 94.99%	Paid Off - 360	Mar-10-04
56798390 2			465,500.00	462,764.32	Dec-08-04	7.150%	NY - 95.00%	Paid Off - 360	Mar-15-04
56967532 2			361,000.00	359,070.08	Dec-01-04	7.450%	FL - 95.00%	Paid Off - 360	Mar-26-04
57048639 2			337,250.00	335,080.85	Nov-17-04	6.500%	CA - 95.00%	Paid Off - 360	Mar-24-04
57190159 2			517,494.00	515,288.97	Dec-02-04	7.800%	FL - 90.00%	Paid Off - 360	Apr-07-04
					Page 19 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report for December 27, 2004 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Cumulative
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
	Group 1						3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 20 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report for December 27, 2004 Distribution
	Realized Loss Report - Collateral
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
	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
	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
	Avg SDA Since Cut-off Approximation					0.00%	0.00%	0.00%
	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off
	Group 1
	Group 2
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 21 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report for December 27, 2004 Distribution
	Realized Loss Report - Collateral
	Group 1
	Group 2
CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off
SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) .......(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.
				Page 22 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for September 27, 2004 Distribution
	Realized Loss Detail Report for December 27, 2004 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY							LOAN GROUP
Total Loan Count Current Losses = 0
Total Loan Count Revisions = 0						Loan Group 1 = Group 1
Total Prior Principal Balance = 0.00						Loan Group 2 = Group 2
Total Current Realized Loss Amount = 0.00
Total Revisions Amount = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
Loan Number			Current	State &		Prior	Realized		Cumulative
&		Loan	Note	LTV at	Original	Principal	Loss/(Gain)	Realized	Realized
Loan Group		Status	Rate	Origination	Term	Balance	Revisions	Loss/(Gain)	Loss/(Gain)
SPACE INTENTIONALLY LEFT BLANK
					Page 23 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for September 27, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 27, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS						GROUP 2	GROUP 1	TOTAL
	Trigger Event in effect							No
	Stepdown Date has occurred							No
	Balances 60+ days							311,~~164~~829,~~742~~997.9156
	Ending Balance							~~336~~313,~~593~~424,~~620~~929.44
	Delinquency Percentage							03.9477%
	Balance of Mezzanine and CE Class							8789,~~807~~652,~~507~~112.6746
	Ending Balance							~~336~~313,~~593~~424,~~620~~929.44
	Credit Enhancement Percentage							2628.0960%
ADJUSTABLE RATE CERTIFICATE INFORMATION						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Libor for Current Period							12.~~615000~~180000%
	Current Period loan level losses							0.00
	Current Recoveries or Losses from Prior periods							0.00
	Total Current Losses							0.00
				Page 24 of 25				© COPYRIGHT 2004 Deutsche Bank
	Argent Mortgage Securities, Inc. 2004-PW1
	Mortgage Pass-Through Certificates
	Other Related Information for September 27, 2004 Distribution
	Other Related Information for December 27, 2004 Distribution
	Other Related Information
ADDITIONAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Class A-1 Next Pass-Through Rate							12.~~885000~~450000%
	Class A-2 Next Pass-Through Rate							2.~~175000~~740000%
	Class A-3 Next Pass-Through Rate							12.~~925000~~490000%
	Class IO-1 Next Pass-Through Rate							4.500000%
	Class IO-2 Next Pass-Through Rate							4.500000%
	Class M-1 Next Pass-Through Rate							2.~~190000~~755000%
	Class M-2 Next Pass-Through Rate							2.~~215000~~780000%
	Class M-3 Next Pass-Through Rate							2.~~315000~~880000%
	Class M-4 Next Pass-Through Rate							23.~~865000~~430000%
	Class M-5 Next Pass-Through Rate							3.~~015000~~580000%
	Class M-6 Next Pass-Through Rate							3.~~365000~~930000%
	Class M-7 Next Pass-Through Rate							34.~~995000~~560000%
	Class M-8 Next Pass-Through Rate							4.~~415000~~980000%
	Class M-9 Next Pass-Through Rate							45.~~865000~~430000%
	Class M-10 Next Pass-Through Rate							45.~~865000~~430000%
	Class M-11 Next Pass-Through Rate							45.~~865000~~430000%
	Class CE Next Pass-Through Rate							21.~~166293~~868936%
	Net WAC Rate Carryover Amt:ClassA-1							0.00
	Net WAC Rate Carryover Amt:ClassA-2							0.00
	Net WAC Rate Carryover Amt:ClassA-3							0.00
	Net WAC Rate Carryover Amt:ClassIO-1							0.00
	Net WAC Rate Carryover Amt:ClassIO-2							0.00
	Net WAC Rate Carryover Amt:ClassM-1							0.00
	Net WAC Rate Carryover Amt:ClassM-2							0.00
	Net WAC Rate Carryover Amt:ClassM-3							0.00
	Net WAC Rate Carryover Amt:ClassM-4							0.00
	Net WAC Rate Carryover Amt:ClassM-5							0.00
	Net WAC Rate Carryover Amt:ClassM-6							0.00
	Net WAC Rate Carryover Amt:ClassM-7							0.00
	Net WAC Rate Carryover Amt:ClassM-8							0.00
	Net WAC Rate Carryover Amt:ClassM-9							0.00
	Net WAC Rate Carryover Amt:ClassM-10							0.00
	Net WAC Rate Carryover Amt:ClassM-11							0.00
	Net WAC Rate Carryover Amt:ClassCE							0.00
				Page 25 of 25				© COPYRIGHT 2004 Deutsche Bank

Filing Compare · ARGENT SECURITIES INC ASSET-BACKED PASS-THROUGH CERTIFICATES, SERIES 2004-PW1