8-K 1 opt04001.txt AUGUST 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): August 25, 2004 OPTION ONE MORTGAGE LOAN TRUST Asset-Backed Certificates, Series 2004-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-101483-03 54-2144704 Pooling and Servicing Agreement) (Commission 54-2144705 (State or other File Number) 54-2144706 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, Maryland 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) 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 under the Exchange Act (17 CFR 240.14a-12) [ ] 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 On August 25, 2004 a distribution was made to holders of OPTION ONE MORTGAGE LOAN TRUST, Asset-Backed Certificates, Series 2004-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2004-1 Trust, relating to the August 25, 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. OPTION ONE MORTGAGE LOAN TRUST Asset-Backed Certificates, Series 2004-1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 9/2/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Certificates, Series 2004-1 Trust, relating to the August 25, 2004 distribution. EX-99.1

Option One Mortgage Loan Trust Asset-Backed Certificates Record Date: 27/2931/2004 Distribution Date: 38/25/2004 OOMC 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-1A 68389FEN0 SEN 1.~~40000~~76000% ~~198~~176,~~292~~592,~~144~~510.9318 ~~223~~259,~~629~~002.4735 27,~~623~~233,~~110~~802.8216 A-1B 68389FEP5 SEN 1.~~39000~~75000% ~~178~~158,~~462~~933,~~930~~259.4416 ~~199~~231,~~828~~777.9167 26,~~360~~510,~~799~~421.7494 A-1C 68389FEQ3 SEN 1.~~49000~~85000% 1917,~~829~~659,~~214~~251.4902 2327,~~800~~224.5768 ~~262~~723,~~311~~380.0822 A-2 68389FER1 SEN 1.~~38000~~74000% ~~238~~211,~~616~~228,~~931~~564.0604 ~~265~~306,~~262~~281.4942 37,~~490~~924,~~274~~603.3475 M-1 68389FES9 MEZ 12.~~69000~~05000% 52,400,000.00 7189,~~336~~516.7867 0.00 M-2 68389FET7 MEZ 2.~~19000~~55000% 42,800,000.00 7590,~~506~~950.3300 0.00 M-3 68389FEU4 MEZ 2.~~44000~~80000% 11,600,000.00 2227,~~800~~066.4467 0.00 M-4 68389FEV2 MEZ 23.~~74000~~10000% 12,000,000.00 2631,~~486~~000.6700 0.00 M-5 68389FEW0 MEZ 23.~~99000~~35000% 9,200,000.00 2225,~~159~~683.2233 0.00 M-6 68389FEX8 MEZ 4.~~59000~~95000% 9,600,000.00 3539,~~496~~600.00 0.00 M-7 68389FEY6 MEZ 4.~~59000~~95000% 8,800,000.00 3236,~~538~~300.00 0.00 C OPT04001C OC 0.00000% 13,599,900.00 3,~~702~~083,~~229~~664.8488 0.00 P OPT04001P PrePay 0.00000% 100.00 ~~129~~365,~~706~~513.0448 0.00 R-1 OPT0401R1 RES 0.00000% 0.00 0.00 0.00 R-2 OPT0401R2 RES 0.00000% 0.00 0.00 0.00 R-3 OPT0401R3 RES 0.00000% 0.00 0.00 0.00 Totals ~~795~~724,~~201~~413,~~220~~584.9240 4,~~830~~613,~~780~~581.7615 822,~~736~~392,~~495~~208.9807

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1A 0.00 ~~195~~169,~~669~~358,~~034~~708.1202 27,~~846~~492,~~740~~804.2951 0.00 A-1B 0.00 ~~176~~152,~~102~~422,~~130~~837.7022 26,~~560~~742,~~628~~199.6561 0.00 A-1C 0.00 1916,~~566~~935,~~903~~870.4180 ~~286~~750,~~111~~604.6590 0.00 A-2 0.00 ~~235~~203,~~126~~303,~~656~~960.7229 38,~~755~~230,~~536~~885.8317 0.00 M-1 0.00 52,400,000.00 7189,~~336~~516.7867 0.00 M-2 0.00 42,800,000.00 7590,~~506~~950.3300 0.00 M-3 0.00 11,600,000.00 2227,~~800~~066.4467 0.00 M-4 0.00 12,000,000.00 2631,~~486~~000.6700 0.00 M-5 0.00 9,200,000.00 2225,~~159~~683.2233 0.00 M-6 0.00 9,600,000.00 3539,~~496~~600.00 0.00 M-7 0.00 8,800,000.00 3236,~~538~~300.00 0.00 C 0.00 13,599,900.00 3,~~702~~083,~~229~~664.8488 0.00 P 0.00 100.00 ~~129~~365,~~706~~513.0448 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 ~~786~~702,~~464~~021,~~724~~376.9533 1327,~~567~~005,~~276~~789.7422 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1A 200,000,000.00 ~~198~~176,~~292~~592,~~144~~510.9318 0.00 27,~~623~~233,~~110~~802.8216 0.00 0.00 A-1B 180,000,000.00 ~~178~~158,~~462~~933,~~930~~259.4416 0.00 26,~~360~~510,~~799~~421.7494 0.00 0.00 A-1C 20,000,000.00 1917,~~829~~659,~~214~~251.4902 0.00 ~~262~~723,~~311~~380.0822 0.00 0.00 A-2 240,000,000.00 ~~238~~211,~~616~~228,~~931~~564.0604 0.00 37,~~490~~924,~~274~~603.3475 0.00 0.00 M-1 52,400,000.00 52,400,000.00 0.00 0.00 0.00 0.00 M-2 42,800,000.00 42,800,000.00 0.00 0.00 0.00 0.00 M-3 11,600,000.00 11,600,000.00 0.00 0.00 0.00 0.00 M-4 12,000,000.00 12,000,000.00 0.00 0.00 0.00 0.00 M-5 9,200,000.00 9,200,000.00 0.00 0.00 0.00 0.00 M-6 9,600,000.00 9,600,000.00 0.00 0.00 0.00 0.00 M-7 8,800,000.00 8,800,000.00 0.00 0.00 0.00 0.00 C 13,599,900.00 13,599,900.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 800,000,000.00 ~~795~~724,~~201~~413,~~220~~584.9240 0.00 822,~~736~~392,~~495~~208.9807 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.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1A 27,~~623~~233,~~110~~802.8216 ~~195~~169,~~669~~358,~~034~~708.1202 0.~~97834517~~84679354 27,~~623~~233,~~110~~802.8216 A-1B 26,~~360~~510,~~799~~421.7494 ~~176~~152,~~102~~422,~~130~~837.7022 0.~~97834517~~84679354 26,~~360~~510,~~799~~421.7494 A-1C ~~262~~723,~~311~~380.0822 1916,~~566~~935,~~903~~870.4180 0.~~97834517~~84679354 ~~262~~723,~~311~~380.0822 A-2 37,~~490~~924,~~274~~603.3475 ~~235~~203,~~126~~303,~~656~~960.7229 0.~~97969440~~84709983 37,~~490~~924,~~274~~603.3475 M-1 0.00 52,400,000.00 1.00000000 0.00 M-2 0.00 42,800,000.00 1.00000000 0.00 M-3 0.00 11,600,000.00 1.00000000 0.00 M-4 0.00 12,000,000.00 1.00000000 0.00 M-5 0.00 9,200,000.00 1.00000000 0.00 M-6 0.00 9,600,000.00 1.00000000 0.00 M-7 0.00 8,800,000.00 1.00000000 0.00 C 0.00 13,599,900.00 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 822,~~736~~392,~~495~~208.9807 ~~786~~702,~~464~~021,~~724~~376.9533 0.~~98308091~~87752672 822,~~736~~392,~~495~~208.9807

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1A 200,000,000.00 ~~991~~882.~~46072465~~96255090 0.00000000 1336.~~11555410~~16901080 0.00000000 A-1B 180,000,000.00 ~~991~~882.~~46072467~~96255089 0.00000000 1336.~~11555411~~16901078 0.00000000 A-1C 20,000,000.00 ~~991~~882.~~46072450~~96255100 0.00000000 1336.~~11555400~~16901100 0.00000000 A-2 240,000,000.00 ~~994~~880.~~23721275~~11901683 0.00000000 1433.~~54280975~~01918229 0.00000000 M-1 52,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 42,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 11,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 12,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 9,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 9,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 8,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 13,599,900.00 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1A 0.00000000 1336.~~11555410~~16901080 ~~978~~846.~~34517060~~79354010 0.~~97834517~~84679354 1336.~~11555410~~16901080 A-1B 0.00000000 1336.~~11555411~~16901078 ~~978~~846.~~34517056~~79354011 0.~~97834517~~84679354 1336.~~11555411~~16901078 A-1C 0.00000000 1336.~~11555400~~16901100 ~~978~~846.~~34517050~~79354000 0.~~97834517~~84679354 1336.~~11555400~~16901100 A-2 0.00000000 1433.~~54280975~~01918229 ~~979~~847.~~69440300~~09983454 0.~~97969440~~84709983 1433.~~54280975~~01918229 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1A 200,000,000.00 1.~~40000~~76000% ~~198~~176,~~292~~592,~~144~~510.9318 ~~223~~259,~~629~~002.4735 0.00 0.00 A-1B 180,000,000.00 1.~~39000~~75000% ~~178~~158,~~462~~933,~~930~~259.4416 ~~199~~231,~~828~~777.9167 0.00 0.00 A-1C 20,000,000.00 1.~~49000~~85000% 1917,~~829~~659,~~214~~251.4902 2327,~~800~~224.5768 0.00 0.00 A-2 240,000,000.00 1.~~38000~~74000% ~~238~~211,~~616~~228,~~931~~564.0604 ~~265~~306,~~262~~281.4942 0.00 0.00 M-1 52,400,000.00 12.~~69000~~05000% 52,400,000.00 7189,~~336~~516.7867 0.00 0.00 M-2 42,800,000.00 2.~~19000~~55000% 42,800,000.00 7590,~~506~~950.3300 0.00 0.00 M-3 11,600,000.00 2.~~44000~~80000% 11,600,000.00 2227,~~800~~066.4467 0.00 0.00 M-4 12,000,000.00 23.~~74000~~10000% 12,000,000.00 2631,~~486~~000.6700 0.00 0.00 M-5 9,200,000.00 23.~~99000~~35000% 9,200,000.00 2225,~~159~~683.2233 0.00 0.00 M-6 9,600,000.00 4.~~59000~~95000% 9,600,000.00 3539,~~496~~600.00 0.00 0.00 M-7 8,800,000.00 4.~~59000~~95000% 8,800,000.00 3236,~~538~~300.00 0.00 0.00 C 13,599,900.00 0.00000% 13,599,900.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 800,000,000.00 ~~998~~1,~~844~~164,402.8879 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1A 0.00 0.00 ~~223~~259,~~629~~002.4735 0.00 ~~195~~169,~~669~~358,~~034~~708.1202 A-1B 0.00 0.00 ~~199~~231,~~828~~777.9167 0.00 ~~176~~152,~~102~~422,~~130~~837.7022 A-1C 0.00 0.00 2327,~~800~~224.5768 0.00 1916,~~566~~935,~~903~~870.4180 A-2 0.00 0.00 ~~265~~306,~~262~~281.4942 0.00 ~~235~~203,~~126~~303,~~656~~960.7229 M-1 0.00 0.00 7189,~~336~~516.7867 0.00 52,400,000.00 M-2 0.00 0.00 7590,~~506~~950.3300 0.00 42,800,000.00 M-3 0.00 0.00 2227,~~800~~066.4467 0.00 11,600,000.00 M-4 0.00 0.00 2631,~~486~~000.6700 0.00 12,000,000.00 M-5 0.00 0.00 2225,~~159~~683.2233 0.00 9,200,000.00 M-6 0.00 0.00 3539,~~496~~600.00 0.00 9,600,000.00 M-7 0.00 0.00 3236,~~538~~300.00 0.00 8,800,000.00 C 0.00 0.00 3,~~702~~083,~~229~~664.8488 0.00 13,599,900.00 P 0.00 0.00 ~~129~~365,~~706~~513.0448 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 4,~~830~~613,~~780~~581.7615 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.

Interest Distribution 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-1A 200,000,000.00 1.~~40000~~76000% ~~991~~882.~~46072465~~96255090 1.~~11814735~~29501175 0.00000000 0.00000000 A-1B 180,000,000.00 1.~~39000~~75000% ~~991~~882.~~46072467~~96255089 1.~~11016061~~28765372 0.00000000 0.00000000 A-1C 20,000,000.00 1.~~49000~~85000% ~~991~~882.~~46072450~~96255100 1.~~19002850~~36123400 0.00000000 0.00000000 A-2 240,000,000.00 1.~~38000~~74000% ~~994~~880.~~23721275~~11901683 1.~~10526037~~27617258 0.00000000 0.00000000 M-1 52,400,000.00 12.~~69000~~05000% 1000.00000000 1.~~36138893~~70833340 0.00000000 0.00000000 M-2 42,800,000.00 2.~~19000~~55000% 1000.00000000 12.~~76416659~~12500000 0.00000000 0.00000000 M-3 11,600,000.00 2.~~44000~~80000% 1000.00000000 12.~~96555517~~33333362 0.00000000 0.00000000 M-4 12,000,000.00 23.~~74000~~10000% 1000.00000000 2.~~20722250~~58333333 0.00000000 0.00000000 M-5 9,200,000.00 23.~~99000~~35000% 1000.00000000 2.~~40861087~~79166630 0.00000000 0.00000000 M-6 9,600,000.00 4.~~59000~~95000% 1000.00000000 34.~~69750000~~12500000 0.00000000 0.00000000 M-7 8,800,000.00 4.~~59000~~95000% 1000.00000000 34.~~69750000~~12500000 0.00000000 0.00000000 C 13,599,900.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1A 0.00000000 0.00000000 1.~~11814735~~29501175 0.00000000 ~~978~~846.~~34517060~~79354010 A-1B 0.00000000 0.00000000 1.~~11016061~~28765372 0.00000000 ~~978~~846.~~34517056~~79354011 A-1C 0.00000000 0.00000000 1.~~19002850~~36123400 0.00000000 ~~978~~846.~~34517050~~79354000 A-2 0.00000000 0.00000000 1.~~10526037~~27617258 0.00000000 ~~979~~847.~~69440300~~09983454 M-1 0.00000000 0.00000000 1.~~36138893~~70833340 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 12.~~76416659~~12500000 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 12.~~96555517~~33333362 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 2.~~20722250~~58333333 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 2.~~40861087~~79166630 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 34.~~69750000~~12500000 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 34.~~69750000~~12500000 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~272~~226.~~22478401~~74173192 0.00000000 1000.00000000 P 0.00000000 0.00000000 ~~1297060~~3655134.~~40000000~~80000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 1326,~~638~~842,~~358~~002.9748 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0(18,812.0027) Prepayment Penalties ~~129~~365,~~706~~513.0448 Total Deposits 1327,~~768~~188,~~065~~703.0169 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~200~~182,~~788~~914.2748 Payment of Interest and Principal 1327,~~567~~005,~~276~~789.7421 Total Withdrawals (Pool Distribution Amount) 1327,~~768~~188,~~065~~703.0169 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~198~~181,~~800~~103.3340 Wells Fargo 1,~~987~~811.9408 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~200~~182,~~788~~914.2748

LOAN STATUS 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 18 0 0 18 ~~139~~985,~~948~~015.1031 0.00 0.00 ~~139~~985,~~948~~015.1031 30 Days 4164 0 1 0 4265 79,~~294~~730,~~381~~620.8053 0.00 53241,~~551~~753.8688 0.00 79,~~347~~972,~~933~~374.6641 60 Days 624 02 85 0 1431 ~~990~~3,~~194~~358,156.4445 0124,342.0067 1703,~~577,024~~767.9457 0.00 24,~~567~~186,~~219~~266.3869 90 Days 020 03 051 01 075 03,470,186.0066 0376,192.0053 07,903,179.0064 0227,057.0027 011,976,616.0010 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 47108 113 957 01 57179 816,~~284~~558,~~576~~963.2464 ~~139~~1,~~948~~485,550.1051 18,~~630~~848,~~576~~701.8009 0227,057.0027 1027,~~055~~120,~~101~~272.1451 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 0.~~020644~~181777% 0.000000% 0.000000% 0.~~020644~~181777% 0.~~017792~~140250% 0.000000% 0.000000% 0.~~017792~~140250% 30 Days 01.~~846408~~454215% 0.000000% 0.~~020644~~022722% 0.000000% 01.~~867052~~476937% 01.~~927353~~385484% 0.000000% 0.~~006808~~034422% 0.000000% 01.~~934162~~419906% 60 Days 0.~~123865~~545331% 0.~~000000~~045444% 0.~~165153~~113611% 0.000000% 0.~~289017~~704385% 0.~~125886~~478148% 0.~~000000~~017704% 0.~~200491~~100205% 0.000000% 0.~~326377~~596057% 90 Days 0.~~000000~~454442% 0.~~000000~~068166% 01.~~000000~~158828% 0.~~000000~~022722% 01.~~000000~~704158% 0.~~000000~~494099% 0.~~000000~~053564% 01.~~000000~~125286% 0.~~000000~~032329% 01.~~000000~~705278% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 02.~~970273~~453988% 0.~~020644~~295387% 01.~~185797~~295160% 0.~~000000~~022722% 14.~~176713~~067257% 12.~~053239~~357730% 0.~~017792~~211519% 01.~~207299~~259913% 0.~~000000~~032329% 13.~~278331~~861491%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~163~~366,~~048~~677.1789 Class A-2 159,999,900.00 19.99998750% 159,999,900.00 2022.~~34419281~~79131454% 2928.~~896656~~959796% 0.000000% Class M-1 107,599,900.00 13.44998750% 107,599,900.00 1315.~~68146550~~32715436% 67.~~662727~~464160% 0.000000% Class M-2 64,799,900.00 8.09998750% 64,799,900.00 89.~~23939052~~23047391% 56.~~442075~~096680% 0.000000% Class M-3 53,199,900.00 6.64998750% 53,199,900.00 67.~~76443562~~57810258% 1.~~474955~~652371% 0.000000% Class M-4 41,199,900.00 5.14998750% 41,199,900.00 5.~~23862021~~86875292% 1.~~525815~~709350% 0.000000% Class C 0.00 0.00000000% 0.00 0.00000000% 1.~~729245~~937249% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Class R-II 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Class R-III 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~397166~~370777% Weighted Average Net Coupon 7.~~097166~~070778% Weighted Average Pass-Through Rate 7.~~094166~~067778% Weighted Average Maturity(Stepdown Calculation ) ~~354~~349 Beginning Scheduled Collateral Loan Count 4,~~885~~529 Number Of Loans Paid In Full 41128 Ending Scheduled Collateral Loan Count 4,~~844~~401 Beginning Scheduled Collateral Balance ~~795~~724,~~201~~413,~~220~~584.9340 Ending Scheduled Collateral Balance ~~786~~702,~~464~~021,~~724~~376.9533 Ending Actual Collateral Balance at 2931-~~Feb~~Jul-2004 ~~786~~702,~~580~~326,~~612~~448.0331 Monthly P &I Constant 5,~~556~~058,~~311~~955.5906 Special Servicing Fee 0.00 Prepayment Penalties ~~129~~365,~~706~~513.0448 Realized Loss Amount 018,812.0027 Cumulative Realized Loss 018,812.0027 Ending Scheduled Balance for Premium Loans ~~786~~702,~~464~~021,~~724~~376.9533 Scheduled Principal ~~654~~609,~~448~~379.5820 Unscheduled Principal 821,~~082~~782,~~047~~828.4087

Trigger Event Not Triggered In Effect Since N/A Comments N/A Stepdown Date ~~Don't~~Do Not Step Down In Effect Since N/A Comments N/A Unscheduled Principal-Voluntary 821,~~082~~576,~~047~~786.4039 Unscheduled Principal-Involuntary 0206,042.0048 Credit Enhancement Percentage 2022.~~12068~~08682% Other Income 218.53

Miscellaneous Reporting General Excess Available Amt 3,~~702~~102,~~229~~477.8419 Extra Principal Distribution Amt 018,812.0027 Overcollateralization Amt 13,599,900.00 ~~Excess~~ Overcollateralization ~~Amt 0.00 Overcollateralization~~ Deficit Amt 0.00 Overcollateralization Increase Amt 0.00 Overcollateralization Release Amt 0.00 Specified Overcollateralization Amt 13,599,900.00

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.~~484940~~456637 7.~~390195~~373869 7.~~517837~~487217 Weighted Average Net Rate 7.~~184940~~156639 7.~~090194~~073870 7.~~217837~~187217 Weighted Average Maturity ~~355~~350 ~~355~~350 ~~353~~348 Beginning Loan Count ~~747~~713 2,~~570~~373 ~~366~~347 Loans Paid In Full 514 2172 25 Ending Loan Count ~~742~~699 2,~~549~~301 ~~364~~342 Beginning Scheduled Balance ~~102~~96,~~683~~506,~~933~~916.1704 ~~393~~356,~~900~~678,~~356~~104.7032 6259,~~625~~050,~~707~~596.5888 Ending scheduled Balance ~~101~~94,~~731~~402,~~801~~490.1301 ~~389~~344,~~606~~321,~~267~~018.1080 6258,~~371~~659,~~165~~123.3090 Record Date 0207/2931/2004 0207/2931/2004 0207/2931/2004 Principal And Interest Constant ~~735~~692,~~107~~458.4514 2,~~736~~476,~~303~~753.2486 ~~454~~427,~~326~~483.7197 Scheduled Principal 9492,~~621~~777.5424 ~~310~~285,~~469~~005.6979 6159,~~985~~046.1678 Unscheduled Principal ~~857~~2,~~510~~011,648.5079 312,~~983~~072,~~619~~079.9173 ~~192~~332,~~557~~426.1220 Scheduled Interest ~~640~~599,~~485~~680.9190 2,~~425~~191,~~833~~748.5507 ~~392~~368,~~341~~437.5519 Servicing Fees 2524,~~670~~126.9871 9889,~~475~~169.1054 1514,~~656~~762.4368 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~256~~241.7729 ~~984~~891.5971 ~~156~~147.5360 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~614~~575,~~814~~312.7486 2,~~327~~101,~~358~~686.4751 ~~376~~353,~~685~~526.1780 Realized Loss Amount 06,061.0084 0.00 0.00 Cumulative Realized Loss 06,061.0084 0.00 0.00 Percentage of Cumulative Losses 0.~~0000~~0059 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.~~181940~~153637 7.~~087195~~070868 7.~~214837~~184215

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~338588~~294120 7.~~397166~~370777 Weighted Average Net Rate 76.~~038588~~994121 7.~~097166~~070778 Weighted Average Maturity ~~353~~348 ~~354~~349 Beginning Loan Count 1,~~202~~096 4,~~885~~529 Loans Paid In Full 1337 41128 Ending Loan Count 1,~~189~~059 4,~~844~~401 Beginning Scheduled Balance ~~235~~212,~~991~~177,~~223~~967.4816 ~~795~~724,~~201~~413,~~220~~584.9340 Ending scheduled Balance ~~232~~204,~~755~~638,~~491~~743.4262 ~~786~~702,~~464~~021,~~724~~376.9533 Record Date 0207/2931/2004 0207/2931/2004 Principal And Interest Constant 1,~~630~~462,~~574~~259.1909 5,~~556~~058,~~311~~955.5906 Scheduled Principal ~~187~~172,~~372~~549.1939 ~~654~~609,~~448~~379.5820 Unscheduled Principal 37,~~048~~366,~~359~~674.8715 821,~~082~~782,~~047~~828.4087 Scheduled Interest 1,~~443~~289,~~202~~709.0070 4,~~901~~449,~~863~~575.0186 Servicing Fees 5853,~~997~~044.8247 ~~198~~181,~~800~~103.3340 Master Servicing Fees 0.00 0.00 Trustee Fee ~~590~~530.0548 1,~~987~~811.9408 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 1,~~384~~236,~~204~~134.0891 4,~~703~~266,~~062~~661.4608 Realized Loss Amount 012,750.0043 018,812.0027 Cumulative Realized Loss 012,750.0043 018,812.0027 Percentage of Cumulative Losses 0.~~0000~~0054 0.~~0000~~0024 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 76.~~035588~~991121 7.~~094166~~067778

Filing Compare · OPTION ONE MORTGAGE LOAN TRUST 2004-1