8-K 1 aeg04001_jul.txt JULY 8K 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): July 26, 2004 AEGIS ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-110187-01 Pooling and Servicing Agreement) (Commission 54-2142310 (State or other File Number) 54-2142311 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On July 26, 2004 a distribution was made to holders of AEGIS ASSET BACKED SECURITIES TRUST, Mortgage Pass-Through Certificates, Series 2004-1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-1 Trust, relating to the July 26, 2004 distribution. 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. AEGIS ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-1 Trust By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 7/26/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-1 Trust, relating to the July 26, 2004 distribution. EX-99.1

~~UNITED~~AEGIS ~~STATES~~Asset Backed Securities Trust Mortgage Pass-Through Certificates Record Date: 6/30/04 Distribution Date: 7/26/04 AEGIS Series: 2004-1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A 00764MBC0 SEN 1.65000% 352,608,806.82 500,998.31 12,452,138.89 M1 00764MBD8 MEZ 1.98000% 35,000,000.00 59,675.00 0.00 M2 00764MBE6 MEZ 2.65000% 28,750,000.00 65,605.90 0.00 M3 00764MBF3 MEZ 2.85000% 7,500,000.00 18,406.25 0.00 B1 00764MBG1 SUB 3.15000% 8,750,000.00 23,734.37 0.00 B2 00764MBH9 SUB 3.30000% 7,500,000.00 21,312.50 0.00 B3 00764MBJ5 SUB 5.30000% 7,500,000.00 34,229.17 0.00 X AEG04001X SEN 0.00000% 12,500,315.16 2,060,203.42 0.00 P AEG04001P SEN 0.00000% 100.00 196,194.62 0.00 R AEG0401R1 SEN 0.00000% 0.00 0.00 0.00 Totals 460,109,221.98 2,980,359.54 12,452,138.89

~~SECURITIES~~Certificateholder ~~AND~~Distribution ~~EXCHANGE~~Summary ~~COMMISSION~~(continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 340,156,667.93 12,953,137.20 0.00 M1 0.00 35,000,000.00 59,675.00 0.00 M2 0.00 28,750,000.00 65,605.90 0.00 M3 0.00 7,500,000.00 18,406.25 0.00 B1 0.00 8,750,000.00 23,734.37 0.00 B2 0.00 7,500,000.00 21,312.50 0.00 B3 0.00 7,500,000.00 34,229.17 0.00 X 0.00 12,500,315.16 2,060,203.42 0.00 P 0.00 100.00 196,194.62 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 447,657,083.09 15,432,498.43 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

~~Washington~~Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A 392,500,000.00 D352,608,806.C82 0. ~~20549~~00 12,452,138.89 0.00 0.00 M1 35,000,000.00 35,000,000.00 0.00 0.00 0.00 0.00 M2 28,750,000.00 28,750,000.00 0.00 0.00 0.00 0.00 M3 7,500,000.00 7,500,000.00 0.00 0.00 0.00 0.00 B1 8,750,000.00 8,750,000.00 0.00 0.00 0.00 0.00 B2 7,500,000.00 7,500,000.00 0.00 0.00 0.00 0.00 B3 7,500,000.00 7,500,000.00 0.00 0.00 0.00 0.00 X 12,512,506.31 12,500,315.16 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 500,012,606.31 460,109,221.98 0.00 12,452,138.89 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~FORM~~Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A 12,452,138.89 340,156,667.93 0.86664119 12,452,138.89 M1 0.00 35,000,000.00 1.00000000 0.00 M2 0.00 28,750,000.00 1.00000000 0.00 M3 0.00 7,500,000.00 1.00000000 0.00 B1 0.00 8-K,750,000.00 1.00000000 0.00 B2 0.00 7,500,000.00 1.00000000 0.00 B3 0.00 7,500,000.00 1.00000000 0.00 X 0.00 12,500,315.16 0.99902568 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 12,452,138.89 447,657,083.09 0.89529159 12,452,138.89

~~CURRENT~~Principal ~~REPORT~~Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 392,500,000.00 898.36638680 0.00000000 31.72519462 0.00000000 M1 35,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 28,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 7,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 8,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 7,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B3 7,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 12,512,506.31 999.02568281 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000

~~PURSUANT~~Principal TODistribution ~~SECTION~~Factors 13Statement OR(continued) 15Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (d3) OFReduction ~~THE~~Balance Percentage Distribution A 0.00000000 31.72519462 866.64119218 0.86664119 31.72519462 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 999.02568281 0.99902568 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~SECURITIES~~Interest ~~EXCHANGE~~Distribution ~~ACT~~Statement OFBeginning ~~1934~~Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A 392,500,000.00 1.65000% 352,608,806.82 500,998.35 0.00 0.00 M1 35,000,000.00 1.98000% 35,000,000.00 59,675.00 0.00 0.00 M2 28,750,000.00 2.65000% 28,750,000.00 65,605.90 0.00 0.00 M3 7,500,000.00 2.85000% 7,500,000.00 18,406.25 0.00 0.00 B1 8,750,000.00 3.15000% 8,750,000.00 23,734.38 0.00 0.00 B2 7,500,000.00 3.30000% 7,500,000.00 21,312.50 0.00 0.00 B3 7,500,000.00 5.30000% 7,500,000.00 34,229.17 0.00 0.00 X 12,512,506.31 0.00000% 12,500,315.16 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 500,012,606.31 723,961.55 0.00 0.00

~~Date~~Interest ofDistribution ~~Report~~Statement (~~Date~~continued) ofRemaining ~~earliest~~Ending ~~event~~Non-Supported ~~reported~~Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A 0.04 0.00 500,998.31 0.00 340,156,667.93 M1 0.00 0.00 59,675.00 0.00 35,000,000.00 M2 0.00 0.00 65,605.90 0.00 28,750,000.00 M3 0.00 0.00 18,406.25 0.00 7,500,000.00 B1 0.00 0.00 23,734.37 0.00 8,750,000.00 B2 0.00 0.00 21,312.50 0.00 7,500,000.00 B3 0.00 0.00 34,229.17 0.00 7,500,000.00 X 0.00 0.00 2,060,203.42 0.00 12,500,315.16 P 0.00 0.00 196,194.62 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.04 0.00 2,980,359.54 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~January~~Interest 27Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A 392,500,000.00 ~~2004~~1.65000% 898.36638680 1.27642892 0.00000000 0.00000000 M1 35,000,000.00 1.98000% 1000.00000000 1.70500000 0.00000000 0.00000000 M2 28,750,000.00 2.65000% 1000.00000000 2.28194435 0.00000000 0.00000000 M3 7,500,000.00 2.85000% 1000.00000000 2.45416667 0.00000000 0.00000000 B1 8,750,000.00 3.15000% 1000.00000000 2.71250057 0.00000000 0.00000000 B2 7,500,000.00 3.30000% 1000.00000000 2.84166667 0.00000000 0.00000000 B3 7,500,000.00 5.30000% 1000.00000000 4.56388933 0.00000000 0.00000000 X 12,512,506.31 0.00000% 999.02568281 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

~~AEGIS~~Interest ~~ASSET~~Distribution ~~BACKED~~Factors ~~SECURITIES~~Statement ~~CORPORATION~~(continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (as6) ~~Depositor~~Distribution ~~under~~Shortfall ~~the~~Balance ~~Pooling~~A ~~and~~0.00000010 ~~Servicing~~0.00000000 ~~Agreement~~1.27642882 ~~dated~~0.00000000 as866.64119218 ofM1 ~~January~~0.00000000 0.00000000 1.70500000 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.28194435 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.45416667 0.00000000 1000.00000000 B1 0.00000000 0.00000000 2.71249943 0.00000000 1000.00000000 B2 0.00000000 0.00000000 2.84166667 0.00000000 1000.00000000 B3 0.00000000 0.00000000 4.56388933 0.00000000 1000.00000000 X 0.00000000 0.00000000 164.65153894 0.00000000 999.02568281 P 0.00000000 0.00000000 1961946.20000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, ~~2004~~Bankruptcy,or ~~providing~~Fraud ~~for~~Losses ~~the~~Unless ~~issuance~~Otherwise ofDisclosed. ~~Mortgage~~Please ~~Pass-Through~~Refer ~~Certificates,~~to ~~Series~~the ~~2004-1)~~Prospectus Supplement for a Full Description.

~~Aegis~~CERTIFICATEHOLDER ~~Asset~~ACCOUNT ~~Backed~~STATEMENT ~~Securities~~CERTIFICATE ~~Corporation~~ ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 15,414,723.72 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 125,012.83 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 196,194.62 Total Deposits 15,735,931.17 Withdrawals Reimbursement for Servicer Advances 102,192.53 Payment of Service Fee 201,240.21 Payment of Interest and Principal 15,432,498.43 Total Withdrawals (Pool Distribution Amount) 15,735,931.17 Ending Balance 0.00

~~(Exact~~PREPAYMENT/CURTAILMENT ~~Name~~INTEREST ofSHORTFALL ~~Registrant~~Total asPrepayment/Curtailment ~~Specified~~Interest inShortfall ~~its~~0.00 ~~Charter)~~Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

Delaware	333-110187	43-1964014
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

~~3250~~OTHER ~~Briarpark,~~ACCOUNTS ~~Suite~~Beginning ~~400,~~Current ~~Houston~~Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 ~~Texas~~0.51 ~~(Address~~0.51 of1,000.00 ~~Principal~~Financial ~~Executive~~Guaranty ~~Offices)~~0.00 ~~77042~~0.00 ~~(Zip~~0.00 ~~Code)~~0.00

~~Registrant’s~~LOAN ~~telephone~~STATUS ~~number~~STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 14 0 0 14 1,817,754.59 ~~including~~0.00 ~~area~~0.00 ~~code: 800~~1,817,754.59 30 Days 57 4 0 0 61 6,425,600.22 563,114.47 0.00 0.00 6,988,714.69 60 Days 23 1 3 0 27 3,045,522.82 64,780.66 900,596.21 0.00 4,010,899.69 90 Days 5 1 11 0 17 960,388.68 95,561.32 2,374,161.27 0.00 3,430,111.27 120 Days 2 1 4 0 7 227,802.98 172,001.37 670,724.14 0.00 1,070,528.49 150 Days 1 0 3 0 4 99,519.74 0.00 371,514.26 0.00 471,034.00 180+ Days 1 2 1 1 5 40,166.14 369,188.87 246,297.79 162,927.75 818,580.55 Totals 89 23 22 1 135 10,799,000.58 3,082,401.28 4,563,293.67 162,927.75 18,607,623.28 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-~~991-5625~~29 Days 0.404391% 0.000000% 0.000000% 0.404391% 0.406060% 0.000000% 0.000000% 0.406060% 30 Days 1.646447% 0.115540% 0.000000% 0.000000% 1.761987% 1.435385% 0.125792% 0.000000% 0.000000% 1.561176% 60 Days 0.664356% 0.028885% 0.086655% 0.000000% 0.779896% 0.680325% 0.014471% 0.201180% 0.000000% 0.895976% 90 Days 0.144425% 0.028885% 0.317735% 0.000000% 0.491046% 0.214537% 0.021347% 0.530353% 0.000000% 0.766237% 120 Days 0.057770% 0.028885% 0.115540% 0.000000% 0.202195% 0.050888% 0.038423% 0.149830% 0.000000% 0.239140% 150 Days 0.028885% 0.000000% 0.086655% 0.000000% 0.115540% 0.022231% 0.000000% 0.082991% 0.000000% 0.105222% 180+ Days 0.028885% 0.057770% 0.028885% 0.028885% 0.144425% 0.008973% 0.082471% 0.055019% 0.036396% 0.182859% Totals 2.570768% 0.664356% 0.635471% 0.028885% 3.899480% 2.412338% 0.688563% 1.019373% 0.036396% 4.156670%

NoOTHER ~~Change~~ INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 125,012.83

COLLATERAL STATEMENT Collateral Description Fixed Mixed & ARM & Balloon Weighted Average Gross Coupon 7.771894% Weighted Average Net Coupon 7.271894% Weighted Average Pass-Through Rate 7.262044% Weighted Average Maturity(~~Former~~Stepdown ~~Name~~Calculation) or342 ~~Former~~Beginning ~~Address~~Scheduled Collateral Loan Count 3,548 ifNumber ~~Changed~~Of ~~Since~~Loans ~~Last~~Paid ~~Report)~~In Full 86 Ending Scheduled Collateral Loan Count 3,462 Beginning Scheduled Collateral Balance 460,109,121.98 Ending Scheduled Collateral Balance 447,656,983.09 Ending Actual Collateral Balance at 30-Jun-2004 447,656,983.09 Monthly P &I Constant 3,385,588.92 Special Servicing Fee 0.00 Prepayment Penalties 196,194.62 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 447,656,983.09 Scheduled Principal 405,656.08 Unscheduled Principal 12,046,482.81

~~Item~~Miscellaneous 5Reporting LIBOR Index Rate 1. ~~Other~~300000% ~~Events~~Overcollateralization Deficiency Amount 0.00 Overcollateralization Release Amount 0.00 Target Overcollateralization Amount 12,500,315.16

The Registrant registered issuances of Mortgage Pass-Through Certificates, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by a Registration Statement on Form S-3 (Registration File No. 333-110187) (the “Registration Statement”). Pursuant to the Registration Statement, the Registrant issued $487,500,000 in aggregate principal amount of Class A, Class M1, Class M2, Class M3, Class B1, Class B2 and Class B3 of its Mortgage Pass-Through Certificates, Series 2004-1 on January 27, 2004. This Current Report on Form 8-K is being filed to satisfy an undertaking, contained in the definitive Prospectus dated January 15, 2004, as supplemented by the Prospectus Supplement dated January 15, 2004 (the “Prospectus Supplement”), to file a copy of the Pooling and Servicing Agreement (as defined below) and other operative agreements executed in connection with the issuance of the Certificates, a form of which was filed as an exhibit to the Registration Statement.

The Certificates were issued pursuant to a Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), attached hereto as Exhibit 4.1, dated as of January 1, 2004, among Aegis Asset Backed Securities Corporation, as depositor, Aegis Mortgage Corporation, as seller, Chase Manhattan Mortgage Corporation, as servicer, The Murrayhill Company, as credit risk manager, and Wells Fargo Bank, N.A., as trustee. The “Certificates” consist of the following classes: Class A, Class M1, Class M2, Class M3, Class B1, Class B2, Class B3, Class P, Class X and Class R. The Certificates evidence all of the beneficial ownership interest in a trust fund (the “Trust Fund”), the assets of which consist primarily of a pool of certain first and second lien, fixed and adjustable rate, fully amortizing and balloon, residential mortgage loans (the “Mortgage Loans”) with an aggregate outstanding principal balance of $500,012,606.30 as of January 1, 2004, together with certain other assets. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Pooling and Servicing Agreement.

Item 7. Financial Statements; Pro Forma Financial Information and Exhibits

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

4.1

Pooling and Servicing Agreement dated as of January 1, 2004, among Aegis Asset Backed Securities Corporation, as depositor, Aegis Mortgage Corporation, as seller, Chase Manhattan Mortgage Corporation, as servicer, The Murrayhill Company, as credit risk manager and Wells Fargo Bank, N.A., as trustee.

SIGNATURES

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

AEGIS ASSET BACKED SECURITIES CORPORATION

By: /s/ Stuart D. Marvin

Name: Stuart D. Marvin Title: Executive Vice President

Dated: February 10, 2004

EXHIBIT INDEX

Exhibit No.

Description

4.1

Filing Compare · AEGIS ASSET BACKED SEC TR MORT PASS THR CERT SER 2004 1