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


                                        FORM 8-K


                     Current Report Pursuant To Section 13 or 15(d) of
                            the Securities Exchange Act of 1934

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

           Financial Asset Securities Corporation (as Depositor under the
               Pooling and Servicing Agreement, dated as August 1, 2004,
               providing for the issuance of Soundview Home Loan Trust
         Series 2004-1 Asset-Backed Pass-Through Certificates, Series 2004-1)
                 (Exact name of registrant as specified in charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-111379-20                          06-1442101
          (Commission File Number)        (I.R.S. Employer Identification No.)


               600 Steamboat Road
               Greenwich, Connecticut                    06830
          (Address of principal executive offices)     (Zip Code)


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


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

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

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

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

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

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


     Item 8.01  Other Events

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


     Item 9.01 Financial Statements and Exhibits

     (c) Exhibits:

     Exhibit No. Description

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

                                    Signatures

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


                                  Deutsche Bank National Trust Company,
                                  in its capacity as Trustee under the
                                  Pooling and Servicing Agreement on
                                  behalf of Financial Asset Securities
                                  Corporation, Registrant


          Date:  Dec 31, 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.



Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

December 27, 2004 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				Greenwich Capital Financial Products, In						1. Certificate Payment Report					2
				Greenwich Capital Financial Products, In						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					11

										7. Foreclosure Report					12
										8. Prepayment Report					13
										9. Prepayment Detail Report					16
										9. Prepayment Detail Report					16
										10. Realized Loss Report					21
										11. Realized Loss Detail Report					24
				Servicer(s)						11. Realized Loss Detail Report					24
				Servicer(s)						12. Triggers and Adj. Cert. Report					25
				Saxon Mortgage Services, Inc.						12. Triggers and Adj. Cert. Report					25
				Saxon Mortgage Services, Inc.						13. Additional Certificate Report					26
				HomeQ Servicing Corp.						13. Additional Certificate Report					26
				HomeQ Servicing Corp.


				Underwriter(s)
				Greenwich Capital Markets


										Total Number of Pages					26
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			August 01, 2004			Eiko Akiyama
				Close Date:			August 06, 2004			Administrator
				First Distribution Date:			September 27, 2004			(714) 247-6328

										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92514
				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 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

December 27, 2004 Distribution
Certificate Payment Report
Current Period Distribution - MASTER REMIC
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
	Class		Original		Principal						Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance


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

A-1	FLT, STEP,	$	185,144,000.00		145,095,342.52		318,605.19		11,833,113.17		12,151,718.36		0.00		0.00		133,262,229.35
A-1	FLT, STEP,	$	185,144,000.00		145,095,342.52		318,605.19		11,833,113.17		12,151,718.36		0.00		0.00		133,262,229.35
A-2	FLT, STEP,	$	57,700,000.00		17,651,126.21		35,567.02		11,833,177.08		11,868,744.10		0.00		0.00		5,817,949.13
A-3	FLT, STEP,	$	112,200,000.00		112,200,000.00		244,440.17		0.00		244,440.17		0.00		0.00		112,200,000.00
A-4	FLT, STEP,	$	15,245,000.00		15,245,000.00		35,707.18		0.00		35,707.18		0.00		0.00		15,245,000.00
M-1	MEZ, STEP,	$	18,027,000.00		18,027,000.00		43,465.10		0.00		43,465.10		0.00		0.00		18,027,000.00
M-2	MEZ, STEP,	$	15,835,000.00		15,835,000.00		38,998.09		0.00		38,998.09		0.00		0.00		15,835,000.00
M-3	MEZ, STEP,	$	9,744,000.00		9,744,000.00		24,332.93		0.00		24,332.93		0.00		0.00		9,744,000.00
M-4	MEZ, STEP,	$	9,744,000.00		9,744,000.00		28,360.45		0.00		28,360.45		0.00		0.00		9,744,000.00
M-5	MEZ, STEP,	$	9,744,000.00		9,744,000.00		28,779.99		0.00		28,779.99		0.00		0.00		9,744,000.00
M-6	MEZ, STEP,	$	8,526,000.00		8,526,000.00		26,650.86		0.00		26,650.86		0.00		0.00		8,526,000.00
M-7	MEZ, STEP,	$	8,526,000.00		8,526,000.00		30,321.77		0.00		30,321.77		0.00		0.00		8,526,000.00
M-8	MEZ, STEP,	$	7,308,000.00		7,308,000.00		26,934.04		0.00		26,934.04		0.00		0.00		7,308,000.00
M-9	MEZ, STEP,	$	6,090,000.00		6,090,000.00		28,475.83		0.00		28,475.83		0.00		0.00		6,090,000.00
B-1	SUB,MEZ	$	7,308,000.00		7,308,000.00		34,170.99		0.00		34,170.99		0.00		0.00		7,308,000.00
B-2	SUB,MEZ	$	6,090,000.00		6,090,000.00		28,475.83		0.00		28,475.83		0.00		0.00		6,090,000.00
C	OC	$	9,987,858.39		9,987,858.39		1,364,547.72		0.00		1,364,547.72		0.00		0.00		9,987,858.39
P	P	$	100.00		100.00		572,150.00		0.00		572,150.00		0.00		0.00		100.00
R	R	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			487,218,958.39		407,121,427.12		2,909,983.16		23,666,290.25		26,576,273.41		0.00		0.00		383,455,136.87
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	11/26/04		12/26/04		A-Act/360		83611MAX6		185,144,000.00		783.689142		1.720851		63.913025		65.633876	719.776117
A-2	11/26/04		12/26/04		A-Act/360		83611MAY4		57,700,000.00		305.912066		0.616413		205.081059		205.697471	100.831007
A-3	11/26/04		12/26/04		A-Act/360		83611MAZ1		112,200,000.00		1,000.000000		2.178611		0.000000		2.178611	1,000.000000
A-4	11/26/04		12/26/04		A-Act/360		83611MBA5		15,245,000.00		1,000.000000		2.342222		0.000000		2.342222	1,000.000000
M-1	11/26/04		12/26/04		A-Act/360		83611MBB3		18,027,000.00		1,000.000000		2.411111		0.000000		2.411111	1,000.000000
M-2	11/26/04		12/26/04		A-Act/360		83611MBC1		15,835,000.00		1,000.000000		2.462778		0.000000		2.462778	1,000.000000
M-3	11/26/04		12/26/04		A-Act/360		83611MBD9		9,744,000.00		1,000.000000		2.497222		0.000000		2.497222	1,000.000000
M-4	11/26/04		12/26/04		A-Act/360		83611MBE7		9,744,000.00		1,000.000000		2.910555		0.000000		2.910555	1,000.000000
M-5	11/26/04		12/26/04		A-Act/360		83611MBF4		9,744,000.00		1,000.000000		2.953611		0.000000		2.953611	1,000.000000
M-6	11/26/04		12/26/04		A-Act/360		83611MBG2		8,526,000.00		1,000.000000		3.125834		0.000000		3.125834	1,000.000000
M-7	11/26/04		12/26/04		A-Act/360		83611MBH0		8,526,000.00		1,000.000000		3.556389		0.000000		3.556389	1,000.000000
M-8	11/26/04		12/26/04		A-Act/360		83611MBJ6		7,308,000.00		1,000.000000		3.685556		0.000000		3.685556	1,000.000000
M-9	11/26/04		12/26/04		A-Act/360		83611MBK3		6,090,000.00		1,000.000000		4.675834		0.000000		4.675834	1,000.000000
B-1	11/26/04		12/26/04		A-Act/360		83611MBL1		7,308,000.00		1,000.000000		4.675833		0.000000		4.675833	1,000.000000
B-2	11/26/04		12/26/04		A-Act/360		83611MBM9		6,090,000.00		1,000.000000		4.675834		0.000000		4.675834	1,000.000000
C	11/01/04		11/30/04		F-30/360		GC04S2101		497,206,816.78		20.087935		2.744427		0.000000		2.744427	20.087935
P	11/01/04		11/30/04		F-30/360		GC04S2102		100.00		1,000.000000		5,721,500.000000		0.000000		5,721,500.000000	1,000.000000
R	11/01/04		11/30/04		F-30/360		GC04S2103		0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

December 27, 2004 Distribution

Distribution to Date - MASTER REMIC
																	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	185,144,000.00		1,428,734.59		11,442,988.68		1,661,157.53		51,881,770.65		53,310,505.24		0.00		0.00		133,262,229.35
A-2	57,700,000.00		285,559.77		50,220,893.34		1,661,157.53		51,882,050.87		52,167,610.64		0.00		0.00		5,817,949.13
A-3	112,200,000.00		969,501.50		0.00		0.00		0.00		969,501.50		0.00		0.00		112,200,000.00
A-4	15,245,000.00		143,235.25		0.00		0.00		0.00		143,235.25		0.00		0.00		15,245,000.00
M-1	18,027,000.00		175,102.26		0.00		0.00		0.00		175,102.26		0.00		0.00		18,027,000.00
M-2	15,835,000.00		157,584.65		0.00		0.00		0.00		157,584.65		0.00		0.00		15,835,000.00
M-3	9,744,000.00		98,517.26		0.00		0.00		0.00		98,517.26		0.00		0.00		9,744,000.00
M-4	9,744,000.00		117,095.82		0.00		0.00		0.00		117,095.82		0.00		0.00		9,744,000.00
M-5	9,744,000.00		119,031.08		0.00		0.00		0.00		119,031.08		0.00		0.00		9,744,000.00
M-6	8,526,000.00		110,925.64		0.00		0.00		0.00		110,925.64		0.00		0.00		8,526,000.00
M-7	8,526,000.00		127,859.20		0.00		0.00		0.00		127,859.20		0.00		0.00		8,526,000.00
M-8	7,308,000.00		113,947.96		0.00		0.00		0.00		113,947.96		0.00		0.00		7,308,000.00
M-9	6,090,000.00		122,776.10		0.00		0.00		0.00		122,776.10		0.00		0.00		6,090,000.00
B-1	7,308,000.00		147,331.31		0.00		0.00		0.00		147,331.31		0.00		0.00		7,308,000.00
B-2	6,090,000.00		122,776.09		0.00		0.00		0.00		122,776.09		0.00		0.00		6,090,000.00
C	9,987,858.39		5,942,766.00		0.00		0.00		0.00		5,942,766.00		0.00		0.00		9,987,858.39
P	100.00		1,654,327.00		0.00		0.00		0.00		1,654,327.00		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	487,218,958.39		11,837,071.48		61,663,882.02		3,322,315.06		103,763,821.52		115,600,893.00		0.00		0.00		383,455,136.87


Interest Detail - MASTER REMIC
	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	2.55000%		145,095,342.52		318,605.19		0.00		0.00		0.00		318,605.19		318,605.19		0.00
A-2	2.34000%		17,651,126.21		35,567.02		0.00		0.00		0.00		35,567.02		35,567.02		0.00
A-3	2.53000%		112,200,000.00		244,440.17		0.00		0.00		0.00		244,440.17		244,440.17		0.00
A-4	2.72000%		15,245,000.00		35,707.18		0.00		0.00		0.00		35,707.18		35,707.18		0.00
M-1	2.80000%		18,027,000.00		43,465.10		0.00		0.00		0.00		43,465.10		43,465.10		0.00
M-2	2.86000%		15,835,000.00		38,998.09		0.00		0.00		0.00		38,998.09		38,998.09		0.00
M-3	2.90000%		9,744,000.00		24,332.93		0.00		0.00		0.00		24,332.93		24,332.93		0.00
M-4	3.38000%		9,744,000.00		28,360.45		0.00		0.00		0.00		28,360.45		28,360.45		0.00
M-5	3.43000%		9,744,000.00		28,779.99		0.00		0.00		0.00		28,779.99		28,779.99		0.00
M-6	3.63000%		8,526,000.00		26,650.86		0.00		0.00		0.00		26,650.86		26,650.86		0.00
M-7	4.13000%		8,526,000.00		30,321.77		0.00		0.00		0.00		30,321.77		30,321.77		0.00
M-8	4.28000%		7,308,000.00		26,934.04		0.00		0.00		0.00		26,934.04		26,934.04		0.00
M-9	5.43000%		6,090,000.00		28,475.82		0.00		0.00		0.00		28,475.82		28,475.83		0.00
B-1	5.43000%		7,308,000.00		34,170.99		0.00		0.00		0.00		34,170.99		34,170.99		0.00
B-2	5.43000%		6,090,000.00		28,475.82		0.00		0.00		0.00		28,475.82		28,475.83		0.00
C	163.94478%		9,987,858.39		0.00		0.00		0.00		0.00		0.00		1,364,547.72		0.00
P	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		572,150.00		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			407,121,427.12		973,285.42		0.00		0.00		0.00		973,285.42		2,909,983.16		0.00



Page 3 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

December 27, 2004 Distribution
Collection Account Report
SUMMARY
SUMMARY
														Total
Principal Collections														23,659,512.94
Principal Withrawals														0.00
Principal Other Accounts														0.00
TOTAL NET PRINCIPAL														23,659,512.94
Interest Collections														2,386,988.63
Interest Withdrawals														-0.00
Interest Other Accounts														572,150.00
Interest Fees														-42,378.16
TOTAL NET INTEREST														2,916,760.47
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION														26,576,273.41



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
															Total
Scheduled Principal Received															390,124.49
Curtailments															87,381.84
Prepayments In Full															23,185,249.57
Repurchased/Substitutions															0.00
Liquidations															3,534.35
Insurance Principal															0.00
Other Additional Principal															0.00
Delinquent Principal															-310,434.76
Realized Losses															-6,777.31
Principal Recoveries
Advanced Principal															310,434.76
TOTAL PRINCIPAL COLLECTED															23,659,512.94


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
														Total
TOTAL PRINCIPAL OTHER ACCOUNTS														0.00





Page 4 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

December 27, 2004 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
														Total
Scheduled Interest														2,516,353.91
Repurchased/Substitution Interest														0.00
Liquidation Interest														0.00
Insurance Interest														0.00
Other Additional Interest														0.00
Prepayment Interest Shortfalls														-19,227.12
Delinquent Interest														-1,932,490.03
Compensating Interest														19,227.12
Civil Relief Act Shortfalls														-345.31
Interest Advanced														1,803,470.07
TOTAL INTEREST COLLECTED														2,386,988.63


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
														Total
Trust Fund Expenses														0.00
Non-Recoverable Advances														0.00
Reimbursements to Master Servicer														0.00
Interest Realized Loss														0.00

TOTAL INTEREST WITHDRAWALS														0.00


INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
														Total
Prepayment Charges														572,150.00
Net Wac Investment Income														0.00

TOTAL INTEREST OTHER ACCOUNTS														572,150.00



INTEREST - FEES
INTEREST - FEES
														Total
Current Servicing Fees														#######
Trustee Fees														1,764.20

TOTAL INTEREST FEES														42,378.16




Page 5 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

December 27, 2004 Distribution
Credit Enhancement Report

ACCOUNTS


CAP CONTRACT

Beginning Reserve Balance						0.00
Reserve Funds Deposited						0.00
Amount withdrawn						0.00
Reserve Funds Distributed						0.00
Ending Balance						0.00



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
														Total
Overcollateralized Amount														9,984,615.43
Overcollateralization Release Amount														0.00
Overcollateralization Deficiency Amount														6,777.31
Overcollateralization Target Amount														9,987,858.39



Page 6 of 26
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Asset Backed Certificates
2004-1

December 27, 2004 Distribution
Collateral Report


COLLATERAL



															Total



*Loan Count:*


Original														3,847
Prior														3,271
Prefunding														0
Scheduled Paid Offs														-0
Full Voluntary Prepayments														-175
Repurchases														-0
Liquidations														-1
Current														3,096
*Principal Balance:*


Original														487,218,958.39
Prior														407,121,427.12
Prefunding														0.00
Scheduled Principal														-390,124.49
Partial Prepayments														-87,381.84
Full Voluntary Prepayments														-23,185,249.57
Repurchases														-0.00
Liquidations														-3,534.35
Current														383,455,136.87





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 26
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Asset Backed Certificates
2004-1

December 27, 2004 Distribution

CHARACTERISTICS
CHARACTERISTICS
														Total
Weighted Average Coupon Original														7.48590%
Weighted Average Coupon Prior														7.43028%
Weighted Average Coupon Current														7.41812%
Weighted Average Months to Maturity Original														331
Weighted Average Months to Maturity Prior														330
Weighted Average Months to Maturity Current														330
Weighted Avg Remaining Amortization Term Original														332
Weighted Avg Remaining Amortization Term Prior														330
Weighted Avg Remaining Amortization Term Current														330
Weighted Average Seasoning Original														7.54
Weighted Average Seasoning Prior														9.43
Weighted Average Seasoning Current														10.36









Page 8 of 26
Soundview Home Loan Trust 2004-1

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Asset Backed Certificates
2004-1

December 27, 2004 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
														Total
Weighted Average Margin Original														5.95145%
Weighted Average Margin Prior														5.94230%
Weighted Average Margin Current														5.92545%
Weighted Average Max Rate Original														13.15170%
Weighted Average Max Rate Prior														13.13807%
Weighted Average Max Rate Current														13.13260%
Weighted Average Min Rate Original														6.54109%
Weighted Average Min Rate Prior														6.50424%
Weighted Average Min Rate Current														6.47551%
Weighted Average Cap Up Original														1.04070%
Weighted Average Cap Up Prior														1.04143%
Weighted Average Cap Up Current														1.04282%
Weighted Average Cap Down Original														1.04070%
Weighted Average Cap Down Prior														1.04143%
Weighted Average Cap Down Current														1.04282%




SERVICING FEES & ADVANCES

															Total




Current Servicing Fees														40,613.96
Delinquent Servicing Fees														129,019.97
TOTAL SERVICING FEES														169,633.93


Total Servicing Fees														169,633.93
Compensating Interest														-19,227.12
Delinquent Servicing Fees														-129,019.97
COLLECTED SERVICING FEES														40,613.96


Total Advanced Interest														1,803,470.07
Total Advanced Principal														310,434.76
Aggregate Advances with respect to this Distribution														2,113,904.83





ADDITIONAL COLLATERAL INFORMATION
														Total
Prepayment Interest Shortfall (PPIS)														19,227.12
Compensating Interest														-19,227.12
Net Prepayment Interest Shortfall (PPIS)														0.00




Page 9 of 26
Soundview Home Loan Trust 2004-1

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Asset Backed Certificates
2004-1

December 27, 2004 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				18,475,842.74		6,313,443.28		2,715,876.49		27,505,162.51
			% Balance				4.82%		1.65%		0.71%		7.17%
			# Loans				160		53		58		271
			% # Loans				5.17%		1.71%		1.87%		8.75%
	FORECLOSURE		Balance		0.00		0.00		123,742.96		3,486,449.99		3,610,192.95
			% Balance		0.00%		0.00%		0.03%		0.91%		0.94%
			# Loans		0		0		1		21		22
			% # Loans		0.00%		0.00%		0.03%		0.68%		0.71%
	BANKRUPTCY		Balance		1,040,597.45		147,362.91		77,414.13		665,866.93		1,931,241.42
			% Balance		0.27%		0.04%		0.02%		0.17%		0.50%
			# Loans		9		1		1		10		21
			% # Loans		0.29%		0.03%		0.03%		0.32%		0.68%
	REO		Balance		0.00		0.00		0.00		196,377.39		196,377.39
			% Balance		0.00%		0.00%		0.00%		0.05%		0.05%
			# Loans		0		0		0		2		2
			% # Loans		0.00%		0.00%		0.00%		0.06%		0.06%
	TOTAL		Balance		1,040,597.45		18,623,205.65		6,514,600.37		7,064,570.80		33,242,974.27
			% Balance		0.27%		4.86%		1.70%		1.84%		8.67%
			# Loans		9		161		55		91		316
			% # Loans		0.29%		5.20%		1.78%		2.94%		10.21%









Page 10 of 26
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Asset Backed Certificates
2004-1

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
311201486 1
311201486 1			45,745.00		45,512.38		01-Jun-2004		9.990%		MI - 100.00%		360		01-Feb-2004

312094089 1			152,100.00		150,865.01		01-May-2004		7.690%		MI - 90.00%		360		01-Feb-2004


TOTAL			197,845.00		196,377.39



Page 11 of 26
Soundview Home Loan Trust 2004-1

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Asset Backed Certificates
2004-1

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
36776888 1
36776888 1			540,000.00		535,922.11		01-Apr-2004		7.000%		IL - 90.00%		360		01-Apr-2004

36929750 1			62,000.00		61,604.84		01-Jun-2004		7.880%		MI - 100.00%		360		01-Apr-2004
36971265 1			247,100.00		245,211.51		01-Jul-2004		6.740%		CA - 100.00%		360		01-May-2004
36972503 1			99,000.00		98,393.89		01-May-2004		7.455%		TX - 100.00%		360		01-May-2004
36987337 1			295,000.00		291,750.29		01-Jun-2004		4.990%		CA - 100.00%		360		01-Apr-2004
37001823 1			113,050.00		111,989.25		01-Jul-2004		5.875%		MO - 85.00%		360		01-Apr-2004
37027174 1			405,000.00		402,339.37		01-May-2004		7.565%		NY - 100.00%		360		01-May-2004
40050825 1			67,000.00		66,604.53		01-Apr-2004		7.640%		MI - 100.00%		360		01-May-2004
40065765 1			124,500.00		123,742.96		01-Sep-2004		7.490%		DC - 100.00%		360		01-May-2004
311067028 1			189,900.00		188,242.27		01-Apr-2004		7.990%		FL - 100.00%		360		01-Jan-2004
1000017560 1			216,000.00		212,899.06		01-May-2004		7.090%		CA - 80.00%		360		01-Aug-2003
1000032208 1			48,000.00		47,741.36		01-May-2004		11.240%		CA - 100.00%		180		01-Dec-2003
1000033007 1			188,000.00		185,745.75		01-May-2004		6.970%		CA - 80.00%		360		01-Nov-2003
1000033131 1			47,000.00		46,729.68		01-Jul-2004		11.440%		CA - 100.00%		180		01-Nov-2003
1000036202 1			220,000.00		216,888.88		01-Jul-2004		5.970%		CA - 73.33%		360		01-Dec-2003
1000039340 1			161,600.00		160,223.07		01-Apr-2004		8.320%		CO - 80.00%		360		01-Dec-2003
1000049802 1			131,750.00		0.00		01-Dec-2004		7.670%		CA - 85.00%		360		01-Feb-2004
1000057339 1			167,200.00		165,672.96		01-May-2004		7.670%		CO - 77.05%		360		01-Jan-2004
1000062504 1			170,000.00		168,732.50		01-Apr-2004		7.620%		CA - 67.19%		360		01-Mar-2004
9500426474 1			82,400.00		81,537.13		09-Jul-2004		5.850%		TN - 84.08%		360		09-Feb-2004
9500461786 1			80,750.00		80,259.00		10-Jun-2004		7.490%		OH - 76.90%		360		10-Apr-2004
9500479408 1			33,750.00		33,498.88		19-May-2004		6.450%		IN - 75.00%		360		19-Apr-2004
9500481818 1			85,000.00		84,463.66		01-Jun-2004		7.480%		PA - 85.00%		360		30-Apr-2004


TOTAL			3,774,000.00		3,610,192.95



Page 12 of 26
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Asset Backed Certificates
2004-1

December 27, 2004 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

															Total




*Current*


Number of Paid in Full Loans														175
Number of Repurchased Loans														0
Total Number of Loans Prepaid in Full														175
Curtailments Amount														87,381.84
Paid in Full Balance														23,185,249.57
Repurchased Loans Balance														0.00
Total Prepayment Amount														23,272,631.41

*Cumulative*


Number of Paid in Full Loans														754
Number of Repurchased Loans														0
Total Number of Loans Prepaid in Full														754
Paid in Full Balance														101,923,863.99
Repurchased Loans Balance														0.00
Curtailments Amount														178,800.00
Total Prepayment Amount														102,102,663.99










Page 13 of 26
Soundview Home Loan Trust 2004-1

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Asset Backed Certificates
2004-1

December 27, 2004 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

															Total



SMM														5.72%
3 Months Avg SMM														4.73%
12 Months Avg SMM														5.72%
Avg SMM Since Cut-off														5.72%


CPR														50.70%
3 Months Avg CPR														44.06%
12 Months Avg CPR														50.70%
Avg CPR Since Cut-off														50.70%


PSA														2,445.98%
3 Months Avg PSA Approximation														2,334.32%
12 Months Avg PSA Approximation														2,828.55%
Avg PSA Since Cut-off Approximation														2,828.55%










Page 14 of 26
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Asset Backed Certificates
2004-1

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 15 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

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

5000078012 1			19,790.00		19,318.89			30-Nov-2004		11.750%		IL - 100.00%		Repur/Subs - 180		1/1/2004
5000078012 1			19,790.00		19,318.89			30-Nov-2004		11.750%		IL - 100.00%		Repur/Subs - 180		1/1/2004
203003 1			161,250.00		160,589.88			29-Nov-2004		8.000%		CA - 75.00%		Paid Off - 360		6/1/2004
403026 1			187,500.00		186,376.50			29-Nov-2004		6.050%		CA - 76.53%		Paid Off - 360		6/1/2004
403040 1			132,000.00		131,325.00			22-Nov-2004		6.875%		CA - 60.00%		Paid Off - 360		6/1/2004
416729 1			93,500.00		92,965.84			22-Nov-2004		6.300%		CA - 85.00%		Paid Off - 360		6/1/2004
440905 1			380,000.00		378,633.65			30-Nov-2004		8.640%		CA - 80.00%		Paid Off - 360		6/1/2004
36862175 1			40,000.00		39,682.72			19-Nov-2004		8.940%		PA - 92.04%		Paid Off - 360		4/1/2004
36897585 1			128,250.00		127,371.68			06-Dec-2004		7.500%		IL - 95.00%		Paid Off - 360		3/1/2004
36917573 1			208,365.00		206,758.19			17-Nov-2004		6.340%		MD - 100.00%		Paid Off - 360		4/1/2004
36922631 1			402,000.00		398,449.34			17-Nov-2004		5.540%		CA - 100.00%		Paid Off - 360		4/1/2004
36925204 1			248,000.00		246,142.47			02-Dec-2004		6.640%		CA - 80.00%		Paid Off - 360		4/1/2004
36934669 1			173,900.00		172,787.13			18-Nov-2004		7.250%		IL - 100.00%		Paid Off - 360		4/1/2004
36954907 1			110,000.00		108,815.83			03-Dec-2004		7.240%		CA - 100.00%		Paid Off - 360		4/1/2004
36988095 1			322,654.00		320,147.74			07-Dec-2004		5.505%		NJ - 88.40%		Paid Off - 360		5/1/2004
36991933 1			242,000.00		240,443.52			08-Dec-2004		6.500%		MD - 100.00%		Paid Off - 360		5/1/2004
37031978 1			213,000.00		211,753.81			10-Dec-2004		6.990%		CA - 100.00%		Paid Off - 360		5/1/2004
37035409 1			172,000.00		171,087.74			22-Nov-2004		7.490%		CA - 100.00%		Paid Off - 360		5/1/2004
37046737 1			166,250.00		165,185.75			01-Dec-2004		6.545%		AZ - 95.00%		Paid Off - 360		5/1/2004
40051690 1			102,000.00		101,423.16			15-Dec-2004		7.490%		MO - 100.00%		Paid Off - 360		5/1/2004
40058547 1			117,000.00		116,194.98			10-Dec-2004		6.990%		CA - 90.00%		Paid Off - 360		5/1/2004
106805609 1			245,000.00		241,516.19			24-Nov-2004		7.750%		FL - 71.01%		Paid Off - 360		5/1/2003
306619800 1			80,750.00		79,424.74			24-Nov-2004		7.125%		TN - 95.00%		Paid Off - 360		5/1/2003
308276737 1			60,240.00		59,656.82			19-Nov-2004		7.750%		PA - 100.00%		Paid Off - 360		11/1/2003
310078465 1			500,000.00		494,542.53			23-Nov-2004		6.625%		CA - 86.96%		Paid Off - 360		12/1/2003
310091347 1			130,500.00		129,513.34			22-Nov-2004		8.500%		CA - 90.00%		Paid Off - 360		12/1/2003
311068009 1			186,000.00		184,893.99			24-Nov-2004		8.750%		NV - 100.00%		Paid Off - 360		2/1/2004
312051994 1			225,000.00		223,102.87			01-Dec-2004		6.990%		FL - 97.83%		Paid Off - 360		2/1/2004
1000000899 1			18,000.00		17,477.75			19-Nov-2004		10.800%		CA - 100.00%		Paid Off - 180		12/1/2003
1000000931 1			56,000.00		55,324.81			24-Nov-2004		10.990%		CA - 100.00%		Paid Off - 240		2/1/2004
1000009400 1			186,400.00		185,716.81			23-Nov-2004		7.625%		NJ - 80.00%		Paid Off - 360		7/1/2004
1000029181 1			193,500.00		191,399.79			10-Dec-2004		6.750%		CA - 88.76%		Paid Off - 360		12/1/2003
1000033074 1			143,650.00		142,274.12			17-Nov-2004		7.570%		CA - 82.56%		Paid Off - 360		12/1/2003
1000034446 1			180,500.00		178,643.64			18-Nov-2004		7.670%		CA - 95.00%		Paid Off - 360		11/1/2003
1000034985 1			236,250.00		233,419.41			10-Dec-2004		6.720%		CA - 76.21%		Paid Off - 360		11/1/2003
1000036077 1			342,000.00		338,437.74			17-Nov-2004		7.300%		CA - 90.00%		Paid Off - 360		11/1/2003
1000036415 1			159,800.00		158,175.13			19-Nov-2004		7.445%		CA - 85.00%		Paid Off - 360		11/1/2003
1000038226 1			180,000.00		177,890.65			24-Nov-2004		6.250%		CA - 80.00%		Paid Off - 360		12/1/2003
1000038226 1			180,000.00		177,890.65					6.250%		CA - 80.00%		Paid Off - 360



Page 16 of 26
Soundview Home Loan Trust 2004-1

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Asset Backed Certificates
2004-1

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

1000038248 1			45,000.00		44,796.97			22-Nov-2004		10.990%		CA - 100.00%		Paid Off - 180		12/1/2003
1000038248 1			45,000.00		44,796.97			22-Nov-2004		10.990%		CA - 100.00%		Paid Off - 180		12/1/2003
1000038798 1			306,000.00		303,128.17			30-Nov-2004		7.650%		CA - 90.00%		Paid Off - 360		12/1/2003
1000039070 1			144,000.00		142,407.59			16-Nov-2004		6.990%		CO - 80.00%		Paid Off - 360		11/1/2003
1000039115 1			36,000.00		35,823.17			16-Nov-2004		10.990%		CO - 100.00%		Paid Off - 180		11/1/2003
1000039395 1			279,000.00		276,560.86			02-Dec-2004		7.770%		CA - 90.00%		Paid Off - 360		12/1/2003
1000039407 1			280,000.00		277,542.39			26-Nov-2004		7.750%		IL - 100.00%		Paid Off - 360		12/1/2003
1000039766 1			249,000.00		246,590.04			02-Dec-2004		7.250%		CA - 88.61%		Paid Off - 360		12/1/2003
1000039812 1			152,000.00		150,452.97			08-Dec-2004		6.990%		CA - 80.00%		Paid Off - 360		12/1/2003
1000039834 1			38,000.00		37,837.39			08-Dec-2004		11.240%		CA - 100.00%		Paid Off - 180		12/1/2003
1000039913 1			188,000.00		185,816.88			16-Nov-2004		5.820%		CA - 80.00%		Paid Off - 360		1/1/2004
1000040162 1			168,000.00		166,426.32			18-Nov-2004		7.420%		CA - 80.00%		Paid Off - 360		12/1/2003
1000040195 1			42,000.00		41,816.13			18-Nov-2004		11.140%		CA - 100.00%		Paid Off - 180		12/1/2003
1000040274 1			296,000.00		292,845.26			24-Nov-2004		6.750%		CA - 80.00%		Paid Off - 360		12/1/2003
1000041556 1			318,750.00		314,725.77			13-Dec-2004		6.000%		CA - 75.00%		Paid Off - 360		12/1/2003
1000041882 1			57,750.00		57,230.59			24-Nov-2004		10.000%		CA - 95.00%		Paid Off - 180		12/1/2003
1000042142 1			246,500.00		244,623.97			18-Nov-2004		8.490%		CA - 79.77%		Paid Off - 360		12/1/2003
1000042355 1			261,000.00		257,794.68			07-Dec-2004		6.000%		CA - 90.00%		Paid Off - 360		12/1/2003
1000042603 1			210,896.00		208,855.09			10-Dec-2004		6.270%		CA - 80.00%		Paid Off - 360		2/1/2004
1000042625 1			52,724.00		52,505.50			10-Dec-2004		10.490%		CA - 100.00%		Paid Off - 180		2/1/2004
1000042771 1			255,000.00		252,973.16			08-Dec-2004		7.795%		CA - 85.00%		Paid Off - 360		1/1/2004
1000042962 1			207,200.00		205,094.20			08-Dec-2004		6.570%		CA - 80.00%		Paid Off - 360		1/1/2004
1000042995 1			51,800.00		51,542.67			08-Dec-2004		10.990%		CA - 100.00%		Paid Off - 180		1/1/2004
1000044751 1			220,000.00		217,752.06			10-Dec-2004		6.500%		CA - 80.00%		Paid Off - 360		1/1/2004
1000044795 1			55,000.00		54,748.75			10-Dec-2004		10.500%		CA - 100.00%		Paid Off - 180		1/1/2004
1000045662 1			152,100.00		149,307.25			10-Dec-2004		6.970%		CA - 78.00%		Paid Off - 360		12/1/2003
1000045864 1			340,000.00		336,424.64			30-Nov-2004		6.820%		CA - 80.00%		Paid Off - 360		12/1/2003
1000045886 1			85,000.00		84,612.32			30-Nov-2004		10.940%		CA - 100.00%		Paid Off - 180		12/1/2003
1000046247 1			245,000.00		242,412.26			22-Nov-2004		6.970%		CA - 80.33%		Paid Off - 360		12/1/2003
1000046528 1			280,500.00		277,200.16			09-Dec-2004		5.750%		CA - 85.00%		Paid Off - 360		1/1/2004
1000046540 1			61,600.00		61,354.45			06-Dec-2004		11.140%		CA - 100.00%		Paid Off - 180		1/1/2004
1000046708 1			165,300.00		163,706.21			01-Dec-2004		7.270%		CA - 87.00%		Paid Off - 360		12/1/2003
1000047125 1			185,600.00		183,792.99			02-Dec-2004		7.240%		CA - 80.00%		Paid Off - 360		12/1/2003
1000047147 1			46,400.00		46,184.66			02-Dec-2004		11.240%		CA - 100.00%		Paid Off - 180		12/1/2003
1000047349 1			279,920.00		277,229.49			24-Nov-2004		6.820%		CA - 80.00%		Paid Off - 360		1/1/2004
1000047383 1			69,980.00		69,706.98			24-Nov-2004		11.240%		CA - 100.00%		Paid Off - 180		1/1/2004
1000047394 1			213,000.00		210,995.73			10-Dec-2004		7.395%		CA - 94.67%		Paid Off - 360		12/1/2003
1000047888 1			378,250.00		375,645.68			03-Dec-2004		8.520%		CA - 85.00%		Paid Off - 360		1/1/2004
1000048058 1			253,600.00		250,485.63			18-Nov-2004		6.000%		CA - 80.00%		Paid Off - 360		12/1/2003
1000048058 1			253,600.00		250,485.63					6.000%		CA - 80.00%		Paid Off - 360



Page 17 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

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

1000048069 1			63,400.00		63,110.82			16-Nov-2004		10.940%		CA - 100.00%		Paid Off - 180		12/1/2003
1000048069 1			63,400.00		63,110.82			16-Nov-2004		10.940%		CA - 100.00%		Paid Off - 180		12/1/2003
1000048283 1			121,900.00		121,017.81			24-Nov-2004		8.270%		CA - 73.88%		Paid Off - 360		1/1/2004
1000048621 1			208,165.00		206,215.61			11-Dec-2004		7.420%		CA - 85.00%		Paid Off - 360		12/1/2003
1000048777 1			151,200.00		149,980.19			19-Nov-2004		7.720%		CO - 80.00%		Paid Off - 360		1/1/2004
1000049161 1			185,600.00		183,873.45			09-Dec-2004		6.990%		CA - 80.00%		Paid Off - 360		1/1/2004
1000049598 1			500,000.00		495,244.60			03-Dec-2004		6.875%		CA - 84.03%		Paid Off - 360		1/1/2004
1000049633 1			204,000.00		201,683.46			16-Nov-2004		7.220%		CA - 80.00%		Paid Off - 360		1/1/2004
1000049802 1		FCL	131,750.00		130,777.26			03-Dec-2004		7.670%		CA - 85.00%		Paid Off - 360		2/1/2004
1000050398 1			495,000.00		490,009.09			01-Dec-2004		6.570%		CA - 90.00%		Paid Off - 360		1/1/2004
1000050916 1			189,000.00		186,714.17			01-Dec-2004		8.070%		CA - 70.00%		Paid Off - 360		1/1/2004
1000051423 1			240,000.00		238,290.17			24-Nov-2004		7.850%		CA - 80.00%		Paid Off - 360		2/1/2004
1000052570 1			150,500.00		149,404.10			22-Nov-2004		9.070%		CA - 70.00%		Paid Off - 360		2/1/2004
1000052839 1			156,000.00		154,925.57			26-Nov-2004		8.020%		CA - 90.70%		Paid Off - 360		2/1/2004
1000052851 1			115,200.00		114,158.09			22-Nov-2004		7.070%		CA - 80.00%		Paid Off - 360		2/1/2004
1000052907 1			176,000.00		174,369.59			09-Dec-2004		6.500%		CA - 80.00%		Paid Off - 360		2/1/2004
1000052930 1			44,000.00		43,836.12			09-Dec-2004		10.990%		CA - 100.00%		Paid Off - 180		2/1/2004
1000053357 1			28,800.00		28,617.93			22-Nov-2004		11.040%		CA - 100.00%		Paid Off - 180		2/1/2004
1000054954 1			133,700.00		132,832.75			08-Dec-2004		8.320%		CA - 85.00%		Paid Off - 360		2/1/2004
1000054987 1			225,000.00		216,959.64			03-Dec-2004		7.000%		CA - 59.21%		Paid Off - 180		1/1/2004
1000056619 1			157,600.00		156,365.84			24-Nov-2004		7.370%		CA - 80.00%		Paid Off - 360		2/1/2004
1000056620 1			39,400.00		39,253.24			24-Nov-2004		10.990%		CA - 100.00%		Paid Off - 180		2/1/2004
1000061884 1			265,500.00		263,514.51			06-Dec-2004		7.620%		CA - 90.00%		Paid Off - 360		2/1/2004
1000134802 1			69,000.00		68,034.43			16-Nov-2004		10.990%		CA - 100.00%		Paid Off - 240		1/1/2004
1000135493 1			67,400.00		66,609.30			28-Nov-2004		12.750%		CA - 100.00%		Paid Off - 240		12/1/2003
1000135983 1			69,485.00		68,405.17			10-Dec-2004		10.500%		CA - 100.00%		Paid Off - 240		12/1/2003
1000136985 1			55,000.00		54,307.87			10-Dec-2004		11.500%		CA - 100.00%		Paid Off - 240		1/1/2004
1000138177 1			79,200.00		78,144.74			01-Dec-2004		10.990%		CA - 100.00%		Paid Off - 240		1/1/2004
1000138385 1			32,850.00		32,383.52			29-Nov-2004		10.490%		CA - 95.00%		Paid Off - 240		1/1/2004
1000139060 1			60,000.00		59,384.18			19-Nov-2004		12.990%		CA - 100.00%		Paid Off - 240		1/1/2004
1000140109 1			8,750.00		8,279.39			13-Dec-2004		11.500%		CA - 95.00%		Paid Off - 120		1/1/2004
1000140504 1			55,400.00		54,722.05			07-Dec-2004		11.650%		CA - 100.00%		Paid Off - 240		1/1/2004
1000140743 1			97,800.00		96,227.85			01-Dec-2004		9.500%		CA - 100.00%		Paid Off - 240		1/1/2004
1000140978 1			12,992.00		12,331.68			19-Nov-2004		12.000%		CA - 95.00%		Paid Off - 120		1/1/2004
1000141302 1			66,950.00		65,944.52			14-Dec-2004		9.250%		CA - 100.00%		Paid Off - 240		2/1/2004
1000142410 1			56,500.00		55,591.55			02-Dec-2004		9.500%		CA - 100.00%		Paid Off - 240		1/1/2004
1000142460 1			68,504.00		67,868.32			17-Nov-2004		12.990%		CA - 100.00%		Paid Off - 240		2/1/2004
1000142491 1			13,750.00		13,080.52			02-Dec-2004		10.750%		CA - 95.00%		Paid Off - 120		2/1/2004
1000142677 1			85,980.00		85,040.42			18-Nov-2004		11.750%		CA - 100.00%		Paid Off - 240		2/1/2004
1000142677 1			85,980.00		85,040.42					11.750%		CA - 100.00%		Paid Off - 240



Page 18 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

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

1000143540 1			22,400.00		22,162.77			08-Dec-2004		11.990%		MD - 100.00%		Paid Off - 240		2/1/2004
1000143540 1			22,400.00		22,162.77			08-Dec-2004		11.990%		MD - 100.00%		Paid Off - 240		2/1/2004
1000143541 1			7,750.00		7,402.31			09-Dec-2004		12.249%		NV - 95.00%		Paid Off - 120		2/1/2004
1000143605 1			94,000.00		92,831.28			30-Nov-2004		10.750%		CA - 100.00%		Paid Off - 240		2/1/2004
1000143753 1			47,180.00		46,611.15			22-Nov-2004		10.990%		CA - 100.00%		Paid Off - 240		2/1/2004
1000143849 1			40,000.00		39,603.85			17-Nov-2004		12.500%		CA - 100.00%		Paid Off - 240		2/1/2004
1000144339 1			35,800.00		35,172.71			23-Nov-2004		12.900%		MD - 100.00%		Paid Off - 240		2/1/2004
1000145404 1			63,050.00		62,424.73			24-Nov-2004		12.500%		CA - 100.00%		Paid Off - 240		2/1/2004
1000145600 1			38,200.00		37,739.47			24-Nov-2004		10.990%		WA - 100.00%		Paid Off - 240		2/1/2004
1000145821 1			9,000.00		7,806.45			06-Dec-2004		10.490%		CA - 95.00%		Paid Off - 60		2/1/2004
1000146107 1			24,980.00		24,732.59			07-Dec-2004		12.500%		CO - 100.00%		Paid Off - 240		2/1/2004
1000147602 1			51,800.00		51,102.24			07-Dec-2004		12.500%		CA - 100.00%		Paid Off - 240		2/1/2004
1000149987 1			59,000.00		58,503.94			16-Nov-2004		12.900%		NV - 100.00%		Paid Off - 240		3/1/2004
1000150294 1			52,000.00		49,605.65			03-Dec-2004		9.750%		CA - 100.00%		Paid Off - 120		3/1/2004
1000150560 1			15,250.00		14,936.74			30-Nov-2004		11.000%		CA - 95.00%		Paid Off - 180		3/1/2004
1000150647 1			11,250.00		10,798.10			07-Dec-2004		12.249%		CA - 95.00%		Paid Off - 120		3/1/2004
1000151195 1			62,200.00		61,562.91			03-Dec-2004		11.400%		CA - 100.00%		Paid Off - 240		3/1/2004
1000152870 1			54,000.00		53,479.75			13-Dec-2004		12.500%		CA - 100.00%		Paid Off - 240		3/1/2004
1701100622 1			472,500.00		463,975.99			18-Nov-2004		6.500%		CA - 70.00%		Paid Off - 360		5/1/2003
1701100819 1			180,000.00		176,752.67			30-Nov-2004		6.500%		CA - 80.00%		Paid Off - 360		5/1/2003
1701100905 1			140,000.00		137,292.25			19-Nov-2004		6.125%		CA - 80.00%		Paid Off - 360		5/1/2003
4303003394 1			175,500.00		174,565.20			07-Dec-2004		7.750%		NJ - 90.00%		Paid Off - 360		5/1/2004
5000073585 1			32,200.00		31,869.51			01-Dec-2004		12.990%		WI - 95.00%		Paid Off - 240		1/1/2004
5000077465 1			57,600.00		56,969.85			17-Nov-2004		13.000%		VA - 100.00%		Paid Off - 240		1/1/2004
5000077677 1			7,200.00		6,606.52			01-Dec-2004		11.500%		IL - 95.00%		Paid Off - 120		1/1/2004
5000078435 1			19,776.00		19,322.24			24-Nov-2004		12.100%		IL - 100.00%		Paid Off - 180		1/1/2004
5000078710 1			74,760.00		73,930.41			01-Dec-2004		12.400%		IL - 100.00%		Paid Off - 240		1/1/2004
5000079074 1			9,250.00		8,783.89			30-Nov-2004		11.990%		MN - 95.00%		Paid Off - 120		1/1/2004
5000079112 1			23,720.00		23,214.12			06-Dec-2004		12.900%		MI - 100.00%		Paid Off - 180		1/1/2004
5000080616 1			9,395.00		8,922.52			10-Dec-2004		11.999%		MI - 95.00%		Paid Off - 120		1/1/2004
5000083673 1			10,750.00		10,260.80			16-Nov-2004		11.990%		MN - 95.00%		Paid Off - 120		2/1/2004
6000078183 1			25,000.00		24,199.64			14-Dec-2004		9.750%		NH - 100.00%		Paid Off - 180		12/1/2003
6000078590 1			6,700.00		6,317.31			29-Nov-2004		12.000%		NC - 95.00%		Paid Off - 120		1/1/2004
6000078661 1			6,127.00		5,789.09			02-Dec-2004		11.999%		FL - 95.00%		Paid Off - 120		12/1/2003
6000079038 1			28,980.00		28,716.71			17-Nov-2004		13.150%		FL - 100.00%		Paid Off - 240		2/1/2004
6000080033 1			10,000.00		9,768.34			03-Dec-2004		11.999%		FL - 95.00%		Paid Off - 180		1/1/2004
6000082157 1			22,500.00		22,038.64			29-Nov-2004		12.249%		FL - 95.00%		Paid Off - 180		2/1/2004
6000083368 1			61,000.00		60,445.92			14-Dec-2004		13.150%		NJ - 100.00%		Paid Off - 240		2/1/2004
6000084311 1			33,000.00		32,682.44			22-Nov-2004		12.900%		FL - 100.00%		Paid Off - 240		2/1/2004
6000084311 1			33,000.00		32,682.44					12.900%		FL - 100.00%		Paid Off - 240



Page 19 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

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

7000083761 1			72,400.00		71,197.94			03-Dec-2004		9.990%		CA - 100.00%		Paid Off - 240		12/1/2003
7000083761 1			72,400.00		71,197.94			03-Dec-2004		9.990%		CA - 100.00%				12/1/2003
7000084157 1			7,500.00		7,092.06			19-Nov-2004		12.250%		NV - 95.00%		Paid Off - 120		12/1/2003
7000085458 1			22,089.00		21,418.67			17-Nov-2004		9.990%		CA - 95.00%		Paid Off - 180		12/1/2003
7000085463 1			57,000.00		56,085.87			18-Nov-2004		10.250%		CA - 100.00%		Paid Off - 240		12/1/2003
7000086161 1			32,000.00		31,573.59			03-Dec-2004		10.990%		CA - 100.00%		Paid Off - 240		1/1/2004
7000086464 1			72,000.00		70,942.86			14-Dec-2004		10.250%		CA - 100.00%		Paid Off - 240		1/1/2004
7000086507 1			47,000.00		46,373.79			03-Dec-2004		10.990%		CA - 100.00%		Paid Off - 240		1/1/2004
7000087194 1			50,800.00		49,983.19			02-Dec-2004		9.500%		CA - 100.00%		Paid Off - 240		1/1/2004
7000087724 1			52,800.00		51,977.10			13-Dec-2004		9.750%		HI - 100.00%		Paid Off - 240		1/1/2004
7000087938 1			49,520.00		48,849.60			13-Dec-2004		10.990%		FL - 100.00%		Paid Off - 240		1/1/2004
7000088466 1			9,125.00		8,672.38			10-Dec-2004		12.250%		CA - 95.00%		Paid Off - 120		1/1/2004
7000088892 1			119,000.00		117,370.73			01-Dec-2004		9.990%		CA - 100.00%		Paid Off - 240		2/1/2004
7000088974 1			9,295.00		8,871.95			23-Nov-2004		11.990%		CA - 95.00%		Paid Off - 120		2/1/2004
7000089342 1			122,000.00		120,854.16			30-Nov-2004		12.900%		CA - 100.00%		Paid Off - 240		2/1/2004
7000090963 1			78,700.00		77,604.43			02-Dec-2004		9.250%		CA - 90.00%		Paid Off - 240		3/1/2004
7000091025 1			51,000.00		50,373.99			02-Dec-2004		9.990%		CA - 100.00%		Paid Off - 240		3/1/2004
7000092858 1			25,000.00		24,541.76			29-Nov-2004		12.249%		WA - 77.78%		Paid Off - 180		3/1/2004
9500440400 1			386,250.00		381,623.03			09-Dec-2004		4.650%		NJ - 75.00%		Paid Off - 360		2/29/2004
9500457768 1			197,010.80		194,583.13			24-Nov-2004		5.550%		MI - 78.80%		Paid Off - 360		4/3/2004
9500464533 1			423,000.00		420,500.96			30-Nov-2004		6.940%		CA - 90.00%		Paid Off - 360		4/9/2004
9500464574 1			450,000.00		446,958.27			07-Dec-2004		6.240%		TX - 72.58%		Paid Off - 360		4/5/2004
9500464822 1			121,000.00		120,176.93			01-Dec-2004		6.250%		GA - 71.60%		Paid Off - 360		4/5/2004
9500471033 1			234,000.00		232,593.18			30-Nov-2004		6.850%		NJ - 86.67%		Paid Off - 360		4/17/2004
9500478137 1			107,100.00		106,340.95			02-Dec-2004		5.990%		KY - 85.00%		Paid Off - 360		4/26/2004


TOTAL			23,429,602.80		23,188,783.92
TOTAL


Page 20 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

December 27, 2004 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



															Total


*Current*
*Current*



Number of Loans Liquidated														1
Collateral Principal Realized Loss/(Gain) Amount														6,777.31
Collateral Interest Realized Loss/(Gain) Amount														0.00
Net Liquidation Proceeds														15,784.54

*Cumulative*
*Cumulative*



Number of Loans Liquidated														2
Collateral Realized Loss/(Gain) Amount														34,940.00
Net Liquidation Proceeds														15,784.54










Page 21 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

December 27, 2004 Distribution


DEFAULT SPEEDS



															Total



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


CDR														0.00%
3 Months Avg CDR														0.03%
12 Months Avg CDR														0.02%
Avg CDR Since Cut-off														0.02%


SDA														0.00%
3 Months Avg SDA Approximation														0.14%
12 Months Avg SDA Approximation														0.11%
Avg SDA Since Cut-off Approximation														0.11%


Loss Severity Approximation for Current Period														191.76%
3 Months Avg Loss Severity Approximation														97.25%
12 Months Avg Loss Severity Approximation														72.94%
Avg Loss Severity Approximation Since Cut-off														72.94%












Page 22 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

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 23 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

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)
5000078012 1
5000078012 1			11.750%		IL - 100.00%		180		19,318.89				3,534.35

36976975 1					DC - 100.00%		360				Revision		3,242.96


TOTAL									19,318.89			6,777.31		0.00



Page 24 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

December 27, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
														Total
Is there a TRIGGER in effect (0=No,1=Yes)														0
Has Stepdown Condition Occurred (0=No,1=Yes)														0


60 + Day Delinquent Balance														13,579,171.17
Ending Principal Balance														383,455,136.87
Delinquency Percentage														3.540000%


Mezzanine and Class C Certificate Balances														116,929,858.39
Credit Enhancement Percentage														0.290000%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
														Total
Current LIBOR														2.180000%
NEXT LIBOR														2.420000%




Page 25 of 26
Soundview Home Loan Trust 2004-1

Asset Backed Certificates
Asset Backed Certificates
2004-1

December 27, 2004 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

										NEXT PTR			CarryOver		CarryOver Paid
CLASS

			A-1							2.79%			0.00		0.00
										2.79%			0.00		0.00
			A-2							2.58%			0.00		0.00
										2.58%			0.00		0.00
			A-3							0.00%			0.00		0.00
										0.00%			0.00		0.00
			A-4							0.00%			0.00		0.00
										0.00%			0.00		0.00
			M-1							0.00%			0.00		0.00
										0.00%			0.00		0.00
			M-2							3.10%			0.00		0.00
										3.10%			0.00		0.00
			M-3							3.14%			0.00		0.00
										3.14%			0.00		0.00
			M-4							3.62%			0.00		0.00
										3.62%			0.00		0.00
			M-5							3.67%			0.00		0.00
										3.67%			0.00		0.00
			M-6							3.87%			0.00		0.00
										3.87%			0.00		0.00
			M-7							4.37%			0.00		0.00
										4.37%			0.00		0.00
			M-8							4.52%			0.00		0.00
										4.52%			0.00		0.00
			M-9							5.67%			0.00		0.00
										5.67%			0.00		0.00
			B-1							5.67%			0.00		0.00
										5.67%			0.00		0.00
			B-2							5.67%			0.00		0.00
										5.67%			0.00		0.00
			C							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 26 of 26

SOUNDVIEW HOME LOAN TRUST 2004-1 8-K