8-K 1 ffm04ff1_sep.txt SEPTEMBER 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 27, 2004 FIRST FRANKLIN MORTGAGE LOAN TRUST Mortgage Loan Asset-Backed Certificates, Series 2004-FF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-112231-01 54-2147305 Pooling and Servicing Agreement) (Commission 54-2147306 (State or other File Number) 54-2147307 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) 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 September 27, 2004 a distribution was made to holders of FIRST FRANKLIN MORTGAGE LOAN TRUST, Mortgage Loan Asset-Backed Certificates, Series 2004-FF1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2004-FF1 Trust, relating to the September 27, 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Mortgage Loan Asset-Backed Certificates, Series 2004-FF1 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: 9/28/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2004-FF1 Trust, relating to the September 27, 2004 distribution. EX-99.1

First Franklin Mortgage Loan Trust Mortgage ~~Loan Asset~~Pass-~~Backed~~Through Certificates Record Date: 78/31/2004 Distribution Date: 89/2527/2004 FFM Series: 2004-FF1 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-1 32027NFZ9 SEN 1.~~71000~~87500% ~~581~~553,~~943~~831,~~593~~406.6043 ~~829~~951,~~269~~897.6273 2838,~~112~~414,~~187~~990.1778 A-2 32027NGA3 SEN 1.~~69000~~85500% ~~387~~368,~~856~~058,~~497~~949.8401 ~~546~~625,~~231~~853.2357 1920,~~797~~715,~~548~~960.8367 M-1 32027NGC9 MEZ 12.~~95000~~11500% 73,587,000.00 ~~119~~142,~~578~~666.8880 0.00 M-2 32027NGD7 MEZ 2.~~59000~~75500% 60,207,000.00 ~~129~~152,~~946~~047.7776 0.00 B-1 32027NGE5 SUB 3.~~05000~~21500% 30,103,000.00 7688,~~511~~716.7905 0.00 B-2 32027NGF2 SUB 3.~~15000~~31500% 16,724,000.00 4350,~~900~~820.5006 0.00 B-3 32027NGG0 SUB 4.~~20000~~36500% 15,386,000.00 5361,~~851~~563.0023 0.00 S 32027NGB1 SUB 0.~~85000~~68500% 0.00 ~~825~~701,~~780~~946.0238 0.00 C 32027NGJ4 SUB 0.00000% 14,699,762.00 32,~~307~~986,~~484~~299.9664 0.00 P 32027NGK1 SUB 0.00000% 0.00 ~~844~~1,~~907~~096,650.1852 0.00 R 32027NGH8 SEN 1.~~71000~~87500% 0.00 0.00 0.00 Totals 1,~~180~~132,~~506~~597,~~853~~117.44 6,~~777~~858,461.9574 4759,~~909~~130,~~736~~951.0045

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~553~~515,~~831~~416,~~406~~415.4365 2839,~~941~~366,~~456~~888.7951 0.00 A-2 0.00 ~~368~~347,~~058~~342,~~949~~988.0134 2021,~~343~~341,~~780~~814.0624 0.00 M-1 0.00 73,587,000.00 ~~119~~142,~~578~~666.8880 0.00 M-2 0.00 60,207,000.00 ~~129~~152,~~946~~047.7776 0.00 B-1 0.00 30,103,000.00 7688,~~511~~716.7905 0.00 B-2 0.00 16,724,000.00 4350,~~900~~820.5006 0.00 B-3 0.00 15,386,000.00 5361,~~851~~563.0023 0.00 S 0.00 0.00 ~~825~~701,~~780~~946.0238 0.00 C 0.00 14,699,762.00 32,~~307~~986,~~484~~299.9664 0.00 P 0.00 0.00 ~~844~~1,~~907~~096,650.1852 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 1,~~132~~073,~~597~~466,~~117~~165.4499 5465,~~687~~989,~~197~~413.9519 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-1 674,006,000.00 ~~581~~553,~~943~~831,~~593~~406.6043 0.00 2838,~~112~~414,~~187~~990.1778 0.00 0.00 A-2 451,628,000.00 ~~387~~368,~~856~~058,~~497~~949.8401 0.00 1920,~~797~~715,~~548~~960.8367 0.00 0.00 M-1 73,587,000.00 73,587,000.00 0.00 0.00 0.00 0.00 M-2 60,207,000.00 60,207,000.00 0.00 0.00 0.00 0.00 B-1 30,103,000.00 30,103,000.00 0.00 0.00 0.00 0.00 B-2 16,724,000.00 16,724,000.00 0.00 0.00 0.00 0.00 B-3 15,386,000.00 15,386,000.00 0.00 0.00 0.00 0.00 S 0.00 0.00 0.00 0.00 0.00 0.00 C 14,700,899.60 14,699,762.00 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 R 100.00 0.00 0.00 0.00 0.00 0.00 Totals 1,336,341,999.60 1,~~180~~132,~~506~~597,~~853~~117.44 0.00 4759,~~909~~130,~~736~~951.0045 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-1 2838,~~112~~414,~~187~~990.1778 ~~553~~515,~~831~~416,~~406~~415.4365 0.~~82170100~~76470598 2838,~~112~~414,~~187~~990.1778 A-2 1920,~~797~~715,~~548~~960.8367 ~~368~~347,~~058~~342,~~949~~988.0134 0.~~81496043~~76909091 1920,~~797~~715,~~548~~960.8367 M-1 0.00 73,587,000.00 1.00000000 0.00 M-2 0.00 60,207,000.00 1.00000000 0.00 B-1 0.00 30,103,000.00 1.00000000 0.00 B-2 0.00 16,724,000.00 1.00000000 0.00 B-3 0.00 15,386,000.00 1.00000000 0.00 S 0.00 0.00 0.00000000 0.00 C 0.00 14,699,762.00 0.99992262 0.00 P 0.00 0.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 4759,~~909~~130,~~736~~951.0045 1,~~132~~073,~~597~~466,~~117~~165.4499 0.~~84753537~~80328701 4759,~~909~~130,~~736~~951.0045

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 674,006,000.00 ~~863~~821.~~41010852~~70100330 0.00000000 4156.~~70910522~~99502791 0.00000000 A-2 451,628,000.00 ~~858~~814.~~79639402~~96042984 0.00000000 4345.~~83596418~~86952242 0.00000000 M-1 73,587,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 60,207,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 30,103,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 16,724,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 15,386,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 14,700,899.60 999.92261698 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R 100.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 4156.~~70910522~~99502791 ~~821~~764.~~70100330~~70597539 0.~~82170100~~76470598 4156.~~70910522~~99502791 A-2 0.00000000 4345.~~83596418~~86952242 ~~814~~769.~~96042984~~09090743 0.~~81496043~~76909091 4345.~~83596418~~86952242 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 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 S 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 999.92261698 0.99992262 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 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.

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-1 674,006,000.00 1.~~71000~~87500% ~~581~~553,~~943~~831,~~593~~406.6043 ~~829~~951,~~269~~897.6273 0.00 0.00 A-2 451,628,000.00 1.~~69000~~85500% ~~387~~368,~~856~~058,~~497~~949.8401 ~~546~~625,~~231~~853.2357 0.00 0.00 M-1 73,587,000.00 12.~~95000~~11500% 73,587,000.00 ~~119~~142,~~578~~666.8880 0.00 0.00 M-2 60,207,000.00 2.~~59000~~75500% 60,207,000.00 ~~129~~152,~~946~~047.7776 0.00 0.00 B-1 30,103,000.00 3.~~05000~~21500% 30,103,000.00 7688,~~511~~716.7905 0.00 0.00 B-2 16,724,000.00 3.~~15000~~31500% 16,724,000.00 4350,~~900~~820.5006 0.00 0.00 B-3 15,386,000.00 4.~~20000~~36500% 15,386,000.00 5361,~~851~~563.0023 0.00 0.00 S 0.00 0.~~85000~~68500% 1,~~165~~117,~~807~~897,~~091~~355.43 ~~825~~701,~~780~~946.0238 0.00 0.00 C 14,700,899.60 0.00000% 14,699,762.00 0.00 0.00 0.00 P 0.00 0.00000% 0.00 0.00 0.00 0.00 R 100.00 1.~~71000~~87500% 0.00 0.00 0.00 0.00 Totals 1,336,341,999.60 2,~~625~~775,~~069~~511.8158 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-1 0.00 0.00 ~~829~~951,~~269~~897.6273 0.00 ~~553~~515,~~831~~416,~~406~~415.4365 A-2 0.00 0.00 ~~546~~625,~~231~~853.2357 0.00 ~~368~~347,~~058~~342,~~949~~988.0134 M-1 0.00 0.00 ~~119~~142,~~578~~666.8880 0.00 73,587,000.00 M-2 0.00 0.00 ~~129~~152,~~946~~047.7776 0.00 60,207,000.00 B-1 0.00 0.00 7688,~~511~~716.7905 0.00 30,103,000.00 B-2 0.00 0.00 4350,~~900~~820.5006 0.00 16,724,000.00 B-3 0.00 0.00 5361,~~851~~563.0023 0.00 15,386,000.00 S 0.00 0.00 ~~825~~701,~~780~~946.0238 0.00 1,~~117~~058,~~897~~766,~~355~~403.4398 C 0.00 0.00 32,~~307~~986,~~484~~299.9664 0.00 14,699,762.00 P 0.00 0.00 ~~844~~1,~~907~~096,650.1852 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 6,~~777~~858,461.9574 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-1 674,006,000.00 1.~~71000~~87500% ~~863~~821.~~41010852~~70100330 1.~~23035940~~41229860 0.00000000 0.00000000 A-2 451,628,000.00 1.~~69000~~85500% ~~858~~814.~~79639402~~96042984 1.~~20947158~~38577229 0.00000000 0.00000000 M-1 73,587,000.00 12.~~95000~~11500% 1000.00000000 1.~~62500007~~93875005 0.00000000 0.00000000 M-2 60,207,000.00 2.~~59000~~75500% 1000.00000000 2.~~15833325~~52541665 0.00000000 0.00000000 B-1 30,103,000.00 3.~~05000~~21500% 1000.00000000 2.~~54166661~~94708335 0.00000000 0.00000000 B-2 16,724,000.00 3.~~15000~~31500% 1000.00000000 23.~~62500000~~03875030 0.00000000 0.00000000 B-3 15,386,000.00 4.~~20000~~36500% 1000.00000000 34.~~50000000~~00124984 0.00000000 0.00000000 S 0.00 0.~~85000~~68500% ~~882~~845.~~09052475~~84033852 0.~~62481412~~53111725 0.00000000 0.00000000 C 14,700,899.60 0.00000% 999.92261698 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R 100.00 1.~~71000~~87500% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 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-1 0.00000000 0.00000000 1.~~23035940~~41229860 0.00000000 ~~821~~764.~~70100330~~70597539 A-2 0.00000000 0.00000000 1.~~20947158~~38577229 0.00000000 ~~814~~769.~~96042984~~09090743 M-1 0.00000000 0.00000000 1.~~62500007~~93875005 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~15833325~~52541665 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 2.~~54166661~~94708335 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 23.~~62500000~~03875030 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 34.~~50000000~~00124984 0.00000000 1000.00000000 S 0.00000000 0.00000000 0.~~62481412~~53111725 0.00000000 ~~845~~801.~~84033852~~09978721 C 0.00000000 0.00000000 ~~224~~203.~~98520839~~13720393 0.00000000 999.92261698 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 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 5465,~~409~~348,~~409~~620.3411 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~153~~183,~~375~~591.9748 Realized Loss (Gains, Subsequent Expenses & Recoveries) ~~(80,391~~0.~~61)~~00 Prepayment Penalties ~~844~~1,~~907~~096,650.1852 Total Deposits 5566,~~327~~628,~~300~~862.8811 Withdrawals Reimbursement for Servicer Advances ~~132~~153,~~469~~375.4097 Payment of Service Fee ~~507~~486,~~633~~072.5395 Payment of Interest and Principal 5465,~~687~~989,~~197~~413.9519 Total Withdrawals (Pool Distribution Amount) 5566,~~327~~628,~~300~~862.8811 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~492~~471,~~877~~915.1847 Credit Risk Manager Fee 14,~~756~~157.3548 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~507~~486,~~633~~072.5395

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 1719 20 0 19 4,~~037~~523,~~082~~313.0199 ~~568,198~~0.8200 0.00 4,~~605~~523,~~280~~313.8399 30 Days 6089 2 1 3 0 6393 916,~~914~~212,~~441~~719.2612 ~~200~~356,~~798~~250.8400 ~~191~~250,~~200~~247.0067 0.00 1016,~~306~~819,~~440~~216.1079 60 Days 820 23 912 0 1935 13,~~124~~404,~~699~~344.9644 ~~169~~288,~~380~~838.9482 1,~~344~~666,~~542~~720.8332 0.00 25,~~638~~359,~~623~~903.7358 90 Days 23 1015 3734 24 5156 ~~286~~371,~~836~~787.6755 1,~~295~~946,~~090~~273.2235 76,~~090~~033,~~924~~764.7395 ~~240~~536,~~943~~094.1108 8,~~913~~887,~~794~~919.7393 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 70112 3138 49 24 ~~152~~203 1119,~~325~~988,~~977~~851.8911 57,~~702~~114,~~352~~676.0116 97,~~194~~950,~~866~~732.3894 ~~240~~536,~~943~~094.1108 2635,~~464~~590,~~139~~354.3929 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.~~323132~~378788% 0.~~038016~~000000% 0.000000% 0.~~361148~~378788% 0.~~356287~~421188% 0.~~050146~~000000% 0.000000% 0.~~406433~~421188% 30 Days 1.~~140468~~774322% 0.~~038016~~019936% 0.~~019008~~059809% 0.000000% 1.~~197491~~854067% 01.~~874986~~509645% 0.~~017721~~033172% 0.~~016874~~023302% 0.000000% 01.~~909581~~566119% 60 Days 0.~~152062~~398724% 0.~~038016~~059809% 0.~~171070~~239234% 0.000000% 0.~~361148~~697767% 0.~~099259~~316995% 0.~~014948~~026895% 0.~~118661~~155196% 0.000000% 0.~~232868~~499087% 90 Days 0.~~038016~~059809% 0.~~190078~~299043% 0.~~703288~~677831% 0.~~038016~~079745% 01.~~969397~~116427% 0.~~025314~~034619% 0.~~114296~~181227% 0.~~625800~~561833% 0.~~021264~~049918% 0.~~786675~~827597% 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 12.~~330546~~232855% 0.~~589242~~757576% 0.~~931382~~976874% 0.~~038016~~079745% 24.~~889185~~047049% 01.~~999559~~861259% 0.~~503253~~662482% 0.~~811481~~740331% 0.~~021264~~049918% 23.~~335557~~313991%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~153~~183,~~375~~591.9748

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.~~628250~~620678% Weighted Average Net Coupon 6.~~127234~~119706% Weighted Average Pass-Through Rate 6.~~112234~~104706% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 5,~~462~~261 Number Of Loans Paid In Full ~~201~~245 Ending Scheduled Collateral Loan Count 5,~~261~~016 Beginning Scheduled Collateral Balance 1,~~180~~132,~~506~~597,~~853~~117.43 Ending Scheduled Collateral Balance 1,~~132~~073,~~597~~466,~~117~~165.4398 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2004 1,~~133~~073,~~097~~942,~~607~~430.1724 Monthly P &I Constant 76,~~032~~747,~~857~~106.3637 Special Servicing Fee 0.00 Prepayment Penalties ~~844~~1,~~907~~096,650.1852 Realized Loss Amount ~~80,391~~0.6100 Cumulative Realized Loss 80,391.61 Ending Scheduled Balance for Premium Loans 1,~~132~~073,~~597~~466,~~117~~165.4398 Scheduled Principal ~~512~~498,~~278~~305.4465 Unscheduled Principal 4758,~~397~~632,~~457~~645.5680 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~80,391~~0.6100 Overcollateralized reduction Amount 0.00 Specified O/C Amount 14,699,762.00 Overcollateralized Amount 14,699,762.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 ~~Extra principal distribution Amount 80,391.61 Excess Cash Amount 0.00~~

Miscellaneous Reporting Current Pre-payment penalties ~~844~~1,~~907~~096,650.1852 Cumulative Pre-payment penalties 34,~~614~~711,~~955~~605.2072 Repurchased Principal 0.00 Is Trigger Event occuring? NO

Filing Compare · MERRILL LYNCH MORTGAGE LN ASST BACK CERTS SER 2004-FF1