8-K 1 ace04hs1_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 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2004-HS1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-110039-04 54-2144731 Pooling and Servicing Agreement) (Commission 54-2144732 (State or other File Number) IRS EIN jurisdiction 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 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2004-HS1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2004-HS1 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. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2004-HS1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator 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 Asset Backed Pass-Through Certificates, Series 2004-HS1 Trust, relating to the September 27, 2004 distribution. EX-99.1

ACE Securities Corporation Home Equity Loan Trust Asset Backed Pass-Through Certificates Record Date: 78/31/042004 Distribution Date: 89/2527/042004 ACE Series: 2004-HS1 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 004421DX8 SEN 1.~~71000~~87500% ~~256~~247,~~928~~272,~~290~~529.9352 ~~366~~424,~~122~~999.8168 910,~~655~~609,~~761~~876.4067 A-2 004421DY6 SEN 1.~~74000~~90500% 36,~~884~~100,~~970~~413.7184 5363,~~483~~040.2135 ~~784~~1,~~556~~914,989.8786 A-3 004421DZ3 SEN 12.~~85000~~01500% 33,548,000.00 5161,~~719~~965.8395 0.00 M-1 004421EA7 MEZ 2.~~00000~~16500% 25,800,000.00 4351,~~000~~202.0025 0.00 M-2 004421EB5 MEZ 2.~~65000~~81500% 21,313,000.00 4754,~~066~~996.2142 0.00 M-3 004421EC3 MEZ 23.~~95000~~11500% 6,730,000.00 1619,~~544~~216.5895 0.00 M-4 004421ED1 MEZ 3.~~15000~~31500% 5,609,000.00 1417,~~723~~044.6335 0.00 M-5 004421EE9 MEZ 3.~~45000~~61500% 5,609,000.00 1618,~~125~~586.8882 0.00 M-6 004421EF6 MEZ 45.~~95000~~11500% 4,487,000.00 1821,~~508~~038.8842 0.00 CE 111282976 JUN 0.00000% 2,243,498.28 1,~~623~~444,~~052~~828.3657 0.00 P 111282984 SEN 0.00000% 100.00 ~~199~~169,~~355~~939.4687 0.00 R-1 111282992 SEN 0.00000% 0.00 0.00 0.00 R-2 ACE0401R2 SEN 0.00000% 0.00 0.00 0.00 Totals ~~399~~388,~~152~~712,~~859~~541.9264 2,~~449~~346,~~702~~859.8563 1012,~~440~~524,~~318~~866.2753

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~247~~236,~~272~~662,~~529~~652.5286 1011,~~021~~034,~~884~~876.2135 0.00 A-2 0.00 3634,~~100~~185,~~413~~423.8498 ~~838~~1,~~040~~978,030.0821 0.00 A-3 0.00 33,548,000.00 5161,~~719~~965.8395 0.00 M-1 0.00 25,800,000.00 4351,~~000~~202.0025 0.00 M-2 0.00 21,313,000.00 4754,~~066~~996.2142 0.00 M-3 0.00 6,730,000.00 1619,~~544~~216.5895 0.00 M-4 0.00 5,609,000.00 1417,~~723~~044.6335 0.00 M-5 0.00 5,609,000.00 1618,~~125~~586.8882 0.00 M-6 0.00 4,487,000.00 1821,~~508~~038.8842 0.00 CE 0.00 2,243,498.28 1,~~623~~444,~~052~~828.3657 0.00 P 0.00 100.00 ~~199~~169,~~355~~939.4687 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 ~~388~~376,~~712~~187,~~541~~675.64 12 14,~~890~~871,~~021~~726.1216 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-1 301,934,000.00 ~~256~~247,~~928~~272,~~290~~529.9352 0.00 910,~~655~~609,~~761~~876.4067 0.00 0.00 A-2 41,426,000.00 36,~~884~~100,~~970~~413.7184 0.00 ~~784~~1,~~556~~914,989.8786 0.00 0.00 A-3 33,548,000.00 33,548,000.00 0.00 0.00 0.00 0.00 M-1 25,800,000.00 25,800,000.00 0.00 0.00 0.00 0.00 M-2 21,313,000.00 21,313,000.00 0.00 0.00 0.00 0.00 M-3 6,730,000.00 6,730,000.00 0.00 0.00 0.00 0.00 M-4 5,609,000.00 5,609,000.00 0.00 0.00 0.00 0.00 M-5 5,609,000.00 5,609,000.00 0.00 0.00 0.00 0.00 M-6 4,487,000.00 4,487,000.00 0.00 0.00 0.00 0.00 CE 2,243,556.24 2,243,498.28 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 Totals 448,699,656.24 ~~399~~388,~~152~~712,~~859~~541.9264 0.00 1012,~~440~~524,~~318~~866.2753 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-1 910,~~655~~609,~~761~~876.4067 ~~247~~236,~~272~~662,~~529~~652.5286 0.~~81896219~~78382247 910,~~655~~609,~~761~~876.4067 A-2 ~~784~~1,~~556~~914,989.8786 3634,~~100~~185,~~413~~423.8498 0.~~87144339~~82521663 ~~784~~1,~~556~~914,989.8786 A-3 0.00 33,548,000.00 1.00000000 0.00 M-1 0.00 25,800,000.00 1.00000000 0.00 M-2 0.00 21,313,000.00 1.00000000 0.00 M-3 0.00 6,730,000.00 1.00000000 0.00 M-4 0.00 5,609,000.00 1.00000000 0.00 M-5 0.00 5,609,000.00 1.00000000 0.00 M-6 0.00 4,487,000.00 1.00000000 0.00 CE 0.00 2,243,498.28 0.99997417 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 Totals 1012,~~440~~524,~~318~~866.2753 ~~388~~376,~~712~~187,~~541~~675.6412 0.~~86630898~~83839528 1012,~~440~~524,~~318~~866.2753

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 301,934,000.00 ~~850~~818.~~94189767~~96218882 0.00000000 3135.~~97970881~~13972150 0.00000000 A-2 41,426,000.00 ~~890~~871.~~38214431~~44338918 0.00000000 1846.~~93875513~~22676242 0.00000000 A-3 33,548,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 25,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 21,313,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 6,730,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 5,609,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 5,609,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 4,487,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 2,243,556.24 999.97416601 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 (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-1 0.00000000 3135.~~97970881~~13972150 ~~818~~783.~~96218882~~82246736 0.~~81896219~~78382247 3135.~~97970881~~13972150 A-2 0.00000000 1846.~~93875513~~22676242 ~~871~~825.~~44338918~~21662676 0.~~87144339~~82521663 1846.~~93875513~~22676242 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 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 CE 0.00000000 0.00000000 999.97416601 0.99997417 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 (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-1 301,934,000.00 1.~~71000~~87500% ~~256~~247,~~928~~272,~~290~~529.9352 ~~366~~424,~~122~~999.8166 0.00 0.00 A-2 41,426,000.00 1.~~74000~~90500% 36,~~884~~100,~~970~~413.7184 5363,~~483~~040.2135 0.00 0.00 A-3 33,548,000.00 12.~~85000~~01500% 33,548,000.00 5161,~~719~~965.8395 0.00 0.00 M-1 25,800,000.00 2.~~00000~~16500% 25,800,000.00 4351,~~000~~202.0025 0.00 0.00 M-2 21,313,000.00 2.~~65000~~81500% 21,313,000.00 4754,~~066~~996.2142 0.00 0.00 M-3 6,730,000.00 23.~~95000~~11500% 6,730,000.00 1619,~~544~~216.5895 0.00 0.00 M-4 5,609,000.00 3.~~15000~~31500% 5,609,000.00 1417,~~723~~044.6335 0.00 0.00 M-5 5,609,000.00 3.~~45000~~61500% 5,609,000.00 1618,~~125~~586.8882 0.00 0.00 M-6 4,487,000.00 45.~~95000~~11500% 4,487,000.00 1821,~~508~~038.8842 0.00 0.00 CE 2,243,556.24 0.00000% 2,243,498.28 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 Totals 448,699,656.24 ~~627~~732,~~295~~091.0317 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 (0.0002) 0.00 ~~366~~424,~~122~~999.8168 0.00 ~~247~~236,~~272~~662,~~529~~652.5286 A-2 0.00 0.00 5363,~~483~~040.2135 0.00 3634,~~100~~185,~~413~~423.8498 A-3 0.00 0.00 5161,~~719~~965.8395 0.00 33,548,000.00 M-1 0.00 0.00 4351,~~000~~202.0025 0.00 25,800,000.00 M-2 0.00 0.00 4754,~~066~~996.2142 0.00 21,313,000.00 M-3 0.00 0.00 1619,~~544~~216.5895 0.00 6,730,000.00 M-4 0.00 0.00 1417,~~723~~044.6335 0.00 5,609,000.00 M-5 0.00 0.00 1618,~~125~~586.8882 0.00 5,609,000.00 M-6 0.00 0.00 1821,~~508~~038.8842 0.00 4,487,000.00 CE 0.00 0.00 1,~~623~~444,~~052~~828.3657 0.00 2,243,498.28 P 0.00 0.00 ~~199~~169,~~355~~939.4687 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 Totals (0.0002) 0.00 2,~~449~~346,~~702~~859.8563 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-1 301,934,000.00 1.~~71000~~87500% ~~850~~818.~~94189767~~96218882 1.~~21259219~~40759126 0.00000000 0.00000000 A-2 41,426,000.00 1.~~74000~~90500% ~~890~~871.~~38214431~~44338918 1.~~29105417~~52175807 0.00000000 0.00000000 A-3 33,548,000.00 12.~~85000~~01500% 1000.00000000 1.~~54166657~~84708328 0.00000000 0.00000000 M-1 25,800,000.00 2.~~00000~~16500% 1000.00000000 1.~~66666667~~98458333 0.00000000 0.00000000 M-2 21,313,000.00 2.~~65000~~81500% 1000.00000000 2.~~20833341~~58041665 0.00000000 0.00000000 M-3 6,730,000.00 23.~~95000~~11500% 1000.00000000 2.~~45833284~~85541605 0.00000000 0.00000000 M-4 5,609,000.00 3.~~15000~~31500% 1000.00000000 23.~~62500089~~03875022 0.00000000 0.00000000 M-5 5,609,000.00 3.~~45000~~61500% 1000.00000000 23.~~87500089~~31374933 0.00000000 0.00000000 M-6 4,487,000.00 45.~~95000~~11500% 1000.00000000 4.~~12500111~~68874972 0.00000000 0.00000000 CE 2,243,556.24 0.00000% 999.97416601 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 (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-1 (0.~~00000000~~00000007) 0.00000000 1.~~21259219~~40759133 0.00000000 ~~818~~783.~~96218882~~82246736 A-2 0.00000000 0.00000000 1.~~29105417~~52175807 0.00000000 ~~871~~825.~~44338918~~21662676 A-3 0.00000000 0.00000000 1.~~54166657~~84708328 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.~~66666667~~98458333 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~20833341~~58041665 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~45833284~~85541605 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 23.~~62500089~~03875022 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 23.~~87500089~~31374933 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 4.~~12500111~~68874972 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~723~~643.~~42842629~~99035078 0.00000000 999.97416601 P 0.00000000 0.00000000 ~~1993554~~1699398.~~60000000~~70000000 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 (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 1314,~~076~~915,~~122~~578.8543 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~146~~183,~~441~~421.4808 Realized Loss (Gains, Subsequent Expenses & Recoveries) (1023,~~077~~772.1887) Prepayment Penalties ~~199~~169,~~355~~939.4687 Total Deposits 1315,~~411~~245,~~842~~166.6151 Withdrawals Reimbursement for Servicer Advances ~~122~~146,~~808~~441.8348 Payment of Service Fee ~~399~~226,~~012~~998.6687 Payment of Interest and Principal 1214,~~890~~871,~~021~~726.1216 Total Withdrawals (Pool Distribution Amount) 1315,~~411~~245,~~842~~166.6151 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~166,313~~0.6900 Credit Risk Manager Fee - The Murrayhill Company 4,~~989~~858.3794 Master Servicing Fee - Wells Fargo 4,~~989~~858.3794 MGIC ~~222~~217,~~720~~280.2399 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~399~~226,~~012~~998.6687

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 811 0 0 811 ~~731~~1,~~251~~070,548.7149 0.00 0.00 ~~731~~1,~~251~~070,548.7149 30 Days 5371 10 20 10 5771 710,~~808~~405,~~462~~810.8346 ~~150,958~~0.9400 ~~350,190~~0.7700 ~~269,898~~0.2100 810,~~579~~405,~~510~~810.7546 60 Days 619 32 14 0 2335 ~~679~~2,~~766~~913,848.7957 ~~577~~223,~~362~~973.3280 2,~~185~~175,~~343~~573.0747 0.00 35,~~442~~313,~~472~~395.1884 90 Days 21 3 2010 02 2516 ~~254~~174,~~009~~777.1254 ~~193~~592,~~190~~538.8373 21,~~429~~245,~~320~~034.5919 0293,734.0010 2,~~876~~306,~~520~~084.5456 120 Days 20 45 1113 15 1823 ~~99,268~~0.7400 ~~476~~720,~~815~~126.2746 1,~~296~~760,~~031~~987.67 68 394,~~261~~462.6515 12,~~940~~875,~~377~~576.3329 150 Days 0 3 4 5 123 015 303,909.0044 ~~400~~409,~~042~~465.0018 ~~359~~467,~~782~~732.5950 ~~688~~185,~~789~~643.6817 1,~~448~~366,~~614~~750.2729 180+ Days 13 04 910 36 1323 88245,~~213~~020.8912 0478,774.0058 1,~~305~~341,~~110~~269.2409 ~~293~~778,~~463~~723.1972 12,~~686~~843,787.3251 Totals 6497 2229 6052 1016 ~~156~~194 814,~~929~~043,~~721~~366.3713 23,~~529~~495,~~621~~427.0724 76,~~925~~990,~~778~~596.93 1,~~320~~652,~~412~~563.7314 2026,~~705~~181,~~534~~953.1044 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.~~271186~~383275% 0.000000% 0.000000% 0.~~271186~~383275% 0.~~188024~~284424% 0.000000% 0.000000% 0.~~188024~~284424% 30 Days 12.~~796610~~473868% 0.~~033898~~000000% 0.~~067797~~000000% 0.~~033898~~000000% 12.~~932203~~473868% 2.~~007764~~764625% 0.~~038816~~000000% 0.~~090043~~000000% 0.~~069398~~000000% 2.~~206021~~764625% 60 Days 0.~~203390~~662021% 0.~~101695~~069686% 0.~~474576~~487805% 0.000000% 01.~~779661~~219512% 0.~~174786~~774154% 0.~~148455~~059506% 0.~~561910~~578008% 0.000000% 01.~~885152~~411668% 90 Days 0.~~067797~~034843% 0.~~101695~~104530% 0.~~677966~~348432% 0.~~000000~~069686% 0.~~847458~~557491% 0.~~065313~~046435% 0.~~049675~~157426% 0.~~624643~~330782% 0.~~000000~~078040% 0.~~739630~~612683% 120 Days 0.~~067797~~000000% 0.~~135593~~174216% 0.~~372881~~452962% 0.~~033898~~174216% 0.~~610169~~801394% 0.~~025525~~000000% 0.~~122602~~191324% 0.~~333244~~467861% 0.~~017552~~104801% 0.~~498923~~763986% 150 Days 0.~~000000~~104530% 0.~~101695~~139373% 0.~~135593~~174216% 0.~~169492~~104530% 0.~~406780~~522648% 0.~~000000~~080743% 0.~~102861~~108787% 0.~~092510~~124268% 0.~~177106~~049322% 0.~~372477~~363119% 180+ Days 0.~~033898~~104530% 0.~~000000~~139373% 0.~~305085~~348432% 0.~~101695~~209059% 0.~~440678~~801394% 0.~~022682~~065097% 0.~~000000~~127201% 0.~~335579~~356350% 0.~~075457~~206892% 0.~~433718~~755540% Totals 23.~~169492~~379791% 01.~~745763~~010453% 21.~~033898~~811847% 0.~~338983~~557491% 56.~~288136~~759582% 23.~~296070~~731054% 0.~~650433~~928668% 21.~~037929~~857268% 0.~~339513~~439054% 56.~~323946~~956044%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp I, Sub Grp I 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 3 0 0 3 ~~272~~285,~~548~~388.4164 0.00 0.00 ~~272~~285,~~548~~388.4164 30 Days 1316 0 0 10 1416 1,~~884~~947,~~294~~534.9265 0.00 0.00 ~~269,898~~0.2100 21,~~154~~947,~~193~~534.1365 60 Days 2 1 3 0 6 ~~162~~170,~~606~~567.9748 6377,~~684~~352.1197 ~~204~~465,~~191~~673.8311 0.00 ~~430~~713,~~482~~593.9156 90 Days 0 12 43 0 5 0.00 49112,~~019~~679.8519 ~~274~~242,~~992~~985.0407 0.00 ~~324~~355,~~011~~664.8926 120 Days 10 1 3 1 ~~6 50,925.78 177,741.66 261,643.83 68,261.65 558,572.92 150 Days 0 0 0~~ 2 24 0.00 ~~0.00 0.00 367~~177,~~785~~627.9798 ~~367~~80,~~785~~588.9773 ~~180 Days 0 0 0 1 1 0.00 0.00 0.00 94~~116,~~954~~951.6477 94375,~~954~~168.6448 Totals 16 6 10 5 37 2,097,827.67 562,994.03 740,827.70 800,900.47 4,202,549.87 0-29 Days 0.292398% 0.000000% 0.000000% 0.292398% 0.248781% 0.000000% 0.000000% 0.248781% 30 Days 1.267057% 0.000000% 0.000000% 0.097466% 1.364522% 1.719977% 0.000000% 0.000000% 0.246362% 1.966339% 60 Days 0.194932% 0.097466% 0.292398% 0.000000% 0.584795% 0.148427% 0.058131% 0.186386% 0.000000% 0.392943% 90 Days 0.000000% 0.097466% 0.389864% 0.000000% 0.487329% 0.000000% 0.044745% 0.251012% 0.000000% 0.295757% 120 Days 0.097466% 0.097466% 0.292398% 0.097466% 0.584795% 0.046485% 0.162242% 0.238827% 0.062309% 0.509863% 150 Days 0.000000% 0.000000% 0.000000% 0.194932% 0.194932% 0.000000% 0.000000% 0.000000% 0.335714% 0.335714% 180 Days 0.000000% 0.000000% 0.000000% 0.097466% 0.097466% 0.000000% 0.000000% 0.000000% 0.086674% 0.086674% Totals 1~~.559454%~~ ~~0.584795% 0.974659% 0.487329% 3.606238%~~ 1~~.914889%~~ ~~0.513899% 0.676225% 0.731059%~~ 3~~.836071%~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp I, Sub Grp II 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~~ 5 ~~0 0 5 458~~68,~~703~~261.3065 ~~0.00 0.00 458~~121,~~703~~823.3096 ~~30 Days 38 1 2 0 41 5,105,830.38 150,958.94 350,~~190~~.77 0.00 5~~,~~606,980~~745.0965 ~~60 Days 4 1 10~~ 0 ~~15 517,159~~.~~82 174,777.54 1,501,291.70 0.~~00 2380,~~193,229~~831.0626 90180 Days ~~2 2 16~~ 0 ~~20 254,009.12 144,170.98 2,154,328.55~~ 0~~.00~~ ~~2,552,508.65 120 Days 1 3 7~~ 0 ~~11 48,342.96 299,073.61 697,730.88 0.00 1,045,147.45 150 Days 0~~ 3 4 3 10 0.00 ~~400,042~~0.00 ~~359,782.59 321,003.71 1,080,828.30 180 Days 1~~ 0 ~~8 2 11 88,213~~.~~89 0.~~00 ~~938~~462,~~272~~740.9161 ~~198~~462,~~508~~740.5561 ~~1,224,995.35~~ Totals 4619 158 4710 5 ~~113~~42 62,~~013~~186,~~556~~363.1778 1774,~~627,726~~872.3774 6979,~~001,597~~992.4056 ~~519~~579,~~512~~692.2638 144,~~162~~520,~~392~~921.2046 0-29 Days 0.~~275938~~298805% 0.000000% 0.000000% 0.~~275938~~298805% 0.~~194908% 0.~~000000% 0.000000% 0.~~194908% 30 Days 2.097130% 0.055188% 0.110375% 0.~~000000% ~~2.262693% 2.169528%~~ 0.~~064144% 0.148800% 0.~~000000% ~~2.382473%~~30 60 Days ~~0.220751% 0.055188% 0.551876% 0.000000% 0.827815% 0.219747% 0.074265% 0.637917% 0.000000% 0.931929% 90 Days 0.110375% 0.110375% 0.883002% 0.000000%~~ 1.~~103753~~593625% 0.~~107931% 0.061260% 0.915400% 0.~~000000% ~~1.084591% 120 Days~~ 0.~~055188% 0.165563% 0.386313% 0.~~000000% 0.~~607064% 0.020541% 0.127080% 0.296474% 0.~~000000% 0.444096% 150 Days 0.000000% 0.165563% 0.220751% 0.165563% 0.551876% 0.000000% 0.169983% 0.152876% 0.136398% 0.459257% 180 Days 0.055188% 0.000000% 0.441501% 0.110375% 0.607064% 0.037483% 0.000000% 0.398683% 0.084349% 0.520515% Totals 2.538631% 0.827815% 2.593819% 0.275938% 6.236203% 2.555232% 0.691640% 2.550150% 0.220747% 6.017769% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp II, Sub Grp I 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 1 ~~0 0 0 1 456,980~~.20 0.00 0.00 0.00 456,980.20 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 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 1 0 0 0 1 456,980.20 0.00 0.00 0.00 456,980.20 0-29 Days 0.000000593625% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% ~~0.000000% 0.000000% 30 Days 3.125000% 0.000000% 0.000000% 0.000000% 3.125000% 3.628509% 0.000000% 0.000000% 0.000000% 3.628509%~~ 60 Days 0.~~000000~~199203% 0.~~000000~~099602% 0.~~000000~~298805% 0.000000% 0.~~000000~~597610% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.~~000000~~199203% 0.~~000000~~298805% 0.000000% 0.~~000000~~498008% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.~~000000~~099602% 0.~~000000~~099602% 0.~~000000~~199203% 0.~~000000~~398406% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.~~000000~~099602% 0.~~000000~~099602% 0.~~000000~~298805% 0.000000% 0.~~000000~~498008% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.~~000000~~298805% 0.~~000000~~298805% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.125000% 0.000000% 0.000000% 0.000000% 3.125000% 3.628509% 0.000000% 0.000000% 0.000000% 3.628509% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp II, Sub Grp II 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 1 ~~0 0 0 1 361,357~~.33 0.00 0.00 0.00 361,357.33 60 Days 0 1 1 0 2 0.00 338,900.67 479,859.54 0.00 818,760.21 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 1 0 1 0.00 0.00 336,656.96 0.00 336,656.96 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 1 0 1 0.00 0.00 366,837.33 0.00 366,837.33 Totals 1 1 3 0 5 361,357.33 338,900.67 1,183,353.83 0.00 1,883,611.83 0-29 Days 0.000000892430% 0.~~000000~~796813% 0.~~000000~~996016% 0.~~000000~~498008% 04.~~000000~~183267% 0.000000% 0.000000% 0.000000% ~~30 Days 1.250000%~~ 0.000000% 0.000000% 0.000000% 1.250000% 1.149986% 0.000000% 0.000000% 0.000000% 1.149986% 60 Days 0.000000% 1.250000% 1.250000% 0.000000% 2.500000% 0.000000% 1.078520% 1.527109% 0.000000% 2.605629% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 1.250000% 0.000000% 1.250000% 0.000000% 0.000000% 1.071380% 0.000000% 1.071380% 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% 1.250000% 0.000000% 1.250000% 0.000000% 0.000000% 1.167426% 0.000000% 1.167426% Totals 1.250000% 1.250000% 3.750000% 0.000000% 6.250000% 1.149986% 1.078520% 3.765914% 0.000000% 5.994420%

~~OTHER~~DELINQUENT ~~INFORMATION~~BANKRUPTCY ~~Current~~FORECLOSURE ~~Period~~REO ~~Class~~Total AGrp ~~Insufficient~~I, ~~Funds~~Sub Grp II 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 8 0 0 8 785,159.85 0.00 ~~Principal~~0.00 ~~Balance~~785,159.85 of30 ~~Contaminated~~Days ~~Properties~~51 0 0 0 51 6,959,466.70 0.00 ~~Periodic~~0.00 ~~Advance~~0.00 6,959,466.70 60 Days 17 1 10 0 28 2,743,281.09 146,~~441~~620.4883 1,252,920.16 0.00 4,142,822.08 90 Days 1 0 7 2 10 174,777.54 0.00 1,002,049.12 293,734.10 1,470,560.76 120 Days 0 3 12 3 18 0.00 203,363.55 1,680,398.95 277,510.38 2,161,272.88 150 Days 2 3 2 3 10 235,647.79 287,641.22 276,986.85 185,643.17 985,919.03 180 Days 3 4 9 3 19 245,020.12 478,774.58 974,431.76 315,983.11 2,014,209.57 Totals 74 19 40 11 144 10,358,193.24 1,901,560.03 5,186,786.84 1,072,870.76 18,519,410.87 0-29 Days 0.454804% 0.000000% 0.000000% 0.454804% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.899375% 0.000000% 0.000000% 0.000000% 2.899375% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.966458% 0.056850% 0.568505% 0.000000% 1.591814% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.056850% 0.000000% 0.397953% 0.113701% 0.568505% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.170551% 0.682206% 0.170551% 1.023309% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.113701% 0.170551% 0.113701% 0.170551% 0.568505% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.170551% 0.227402% 0.511654% 0.170551% 1.080159% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 4.206936% 1.080159% 2.274019% 0.625355% 8.186470% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

~~COLLATERAL~~DELINQUENT ~~STATEMENT~~BANKRUPTCY ~~Collateral~~FORECLOSURE ~~Description~~REO ~~Mixed~~Total ~~Fixed~~Grp &II, ~~Arm~~Sub ~~Weighted~~Grp ~~Average~~I ~~Gross~~No ~~Coupon~~of ~~7.995245%~~Loans ~~Weighted~~No ~~Average~~of ~~Net~~Loans ~~Coupon~~No ~~7.495244%~~of ~~Weighted~~Loans ~~Average~~No ~~Pass-Through~~of ~~Rate~~Loans ~~6.795665%~~No ~~Weighted~~of ~~Average~~Loans ~~Maturity(Stepdown~~Principal ~~Calculation~~Balance )Principal ~~343~~Balance ~~Beginning~~Principal ~~Scheduled~~Balance ~~Collateral~~Principal ~~Loan~~Balance ~~Count~~Principal ~~3,020~~Balance ~~Number~~0-29 OfDays ~~Loans~~0 ~~Paid~~0 In0 ~~Full~~0 700.00 ~~Ending~~0.00 ~~Scheduled~~0.00 ~~Collateral~~0.00 ~~Loan~~30 ~~Count~~Days ~~2,950~~1 ~~Beginning~~0 ~~Scheduled~~0 ~~Collateral~~0 ~~Balance~~1 ~~399~~360,~~152,859~~325.9207 ~~Ending~~0.00 ~~Scheduled~~0.00 ~~Collateral~~0.00 ~~Balance 388~~360,~~712,541~~325.6507 ~~Ending~~60 ~~Actual~~Days ~~Collateral~~0 ~~Balance~~0 at1 ~~31-Jul-2004~~0 ~~388~~1 0.00 0.00 456,~~913~~980.20 0.00 456,~~308~~980.20 ~~Monthly~~90 PDays &I0 ~~Constant~~0 ~~2,971,378~~0 0 0 0.3400 ~~Special~~0.00 ~~Servicing~~0.00 ~~Fee~~0.00 0.00 ~~Prepayment~~120 ~~Penalties~~Days ~~199,355~~0 0 0 0 0 0.4600 ~~Realized~~0.00 ~~Loss~~0.00 ~~Amount~~0.00 100.00 150 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 1 0 1 0 2 360,~~077~~325.1807 ~~Cumulative~~0.00 ~~Realized~~456,980.20 ~~Loss~~0.00 10817,~~442~~305.27 ~~Ending~~0-29 ~~Scheduled~~Days ~~Balance~~0.000000% ~~for~~0.000000% ~~Premium~~0.000000% ~~Loans~~0.000000% ~~388,712,541~~0.65000000% ~~Scheduled~~0.000000% ~~Principal~~0.000000% ~~311,965~~0.17000000% ~~Unscheduled~~30 ~~Principal~~Days ~~10,128,353~~3.10125000% ~~Required~~0.000000% ~~Overcollateralization~~0.000000% ~~Amount~~0.000000% 3.125000% 0.00000000% ~~Overcollateralized~~0.000000% ~~Increase~~0.000000% ~~Amount~~0.000000% ~~10,077~~0.18000000% ~~Overcollateralized~~60 ~~reduction~~Days ~~Amount~~0.000000% 0.00000000% ~~Specified~~3.125000% ~~O/C~~0.000000% ~~Amount~~3.125000% ~~2,243,498~~0.28000000% ~~Overcollateralized~~0.000000% ~~Amount~~0.000000% ~~2,243,498~~0.28000000% ~~Overcollateralized~~0.000000% ~~Deficiency~~90 ~~Amount~~Days 0.00000000% ~~Base~~0.000000% ~~Overcollateralized~~0.000000% ~~Amount~~0.000000% 0.00000000% ~~Extra~~0.000000% ~~principal~~0.000000% ~~distribution~~0.000000% ~~Amount~~0.000000% ~~10,077~~0.18000000% ~~Excess~~120 ~~Cash~~Days ~~Amount~~0.000000% 0.00000000% 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 3.125000% 0.000000% 3.125000% 0.000000% 6.250000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

~~Group~~DELINQUENT ~~Level~~BANKRUPTCY ~~Collateral~~FORECLOSURE ~~Statement~~REO ~~Group~~Total Grp III, Sub Grp III ~~Grp~~No I,of ~~Sub~~Loans ~~Grp~~No IIof ~~Grp~~Loans ~~II,~~No ~~Sub~~of ~~Grp~~Loans INo ~~Collateral~~of ~~Description~~Loans ~~Fixed~~No ~~15/30~~of &Loans ~~ARM~~Principal ~~Fixed~~Balance ~~15/30~~Principal &Balance ~~ARM~~Principal ~~Fixed~~Balance ~~15/30~~Principal &Balance ~~ARM~~Principal ~~Weighted~~Balance ~~Average~~0-29 ~~Coupon~~Days ~~Rate~~0 ~~7.995645~~0 ~~8.063567~~0 70 0.~~490254~~00 ~~Weighted Average Net Rate 7~~0.~~495645~~00 70.~~563567~~00 60.~~990254~~00 ~~Weighted~~30 ~~Average~~Days ~~Maturity~~3 ~~326~~0 ~~350~~0 ~~347~~0 ~~Beginning~~3 ~~Loan Count~~ 1,~~046~~138,484.04 0.00 0.00 0.00 1,~~860~~138,484.04 3360 ~~Loans~~Days ~~Paid~~0 In0 ~~Full~~0 200 480 10.00 ~~Ending~~0.00 ~~Loan~~0.00 ~~Count~~0.00 ~~1,026~~0.00 90 Days 0 1~~,812~~ 320 ~~Beginning~~0 ~~Scheduled~~1 ~~Balance~~0.00 ~~111~~479,~~741,583~~859.5254 ~~242,635,556~~0.5500 120.00 479,~~950,776~~859.9554 ~~Ending~~120 ~~scheduled~~Days ~~Balance~~0 ~~109,502,077~~1 0 0 1 0.6400 ~~235~~339,~~218,543~~134.7693 120.00 0.00 339,~~587,306~~134.2393 ~~Record~~150 ~~Date~~Days ~~07/31/2004~~0 ~~07/31/2004~~0 ~~07/31/2004~~0 ~~Principal~~0 ~~And~~0 ~~Interest~~0.00 ~~Constant~~0.00 ~~844,779~~0.8200 ~~1,806,367~~0.9000 ~~91,774~~0.7400 ~~Scheduled~~180 ~~Principal~~Days ~~100,241.48~~0 ~~175,944.48~~0 ~~10,937.57~~1 ~~Unscheduled~~0 ~~Principal~~1 ~~2,139,264~~0.4000 ~~7,241,068~~0.3100 ~~352~~366,~~533~~837.1533 ~~Scheduled~~0.00 ~~Interest 744~~366,~~538~~837.3433 Totals 3 2 1 0 6 1,~~630~~138,~~423~~484.4204 80818,~~837~~994.1747 ~~Servicing Fees 46~~366,~~558~~837.9833 ~~101,098~~0.1900 52,~~396~~324,315.1584 ~~Master~~0-29 ~~Servicing~~Days ~~Fees~~0.000000% ~~1,396~~0.74000000% ~~3,032~~0.94000000% ~~161~~0.88000000% ~~Trustee~~0.000000% ~~Fee~~ 0.00000000% 0.00000000% 0.00000000% ~~FRY~~30 ~~Amount~~Days 4.000000% 0.00000000% 0.00000000% 0.00000000% ~~Special~~4.000000% ~~Hazard~~0.000000% ~~Fee~~0.000000% 0.00000000% 0.00000000% 0.00000000% ~~Other~~60 ~~Fee~~Days ~~75,659~~0.67000000% ~~130,668~~0.29000000% ~~8,348~~0.45000000% ~~Pool~~0.000000% ~~Insurance~~0.000000% ~~Fee~~0.000000% 0.00000000% 0.00000000% 0.00000000% ~~Spread~~0.000000% ~~Fee~~90 1Days 0.00000000% 1.333333% 0.00000000% 0.00000000% ~~Spread~~1.333333% ~~Fee~~0.000000% 20.000000% 0.00000000% 0.00000000% 0.00000000% ~~Spread~~120 ~~Fee~~Days 3 0.00000000% 1.333333% 0.00000000% 0.00000000% ~~Net~~1.333333% ~~Interest~~0.000000% ~~620,922~~0.95000000% ~~1,395,624~~0.00000000% ~~66,930~~0.69000000% ~~Realized~~0.000000% ~~Loss~~150 ~~Amount~~Days 0.00000000% ~~10,077~~0.18000000% 0.00000000% ~~Cumulative~~0.000000% ~~Realized~~0.000000% ~~Loss~~0.000000% 0.00000000% ~~10,442~~0.27000000% 0.00000000% ~~Percentage~~0.000000% of180 ~~Cumulative~~Days ~~Losses~~ 0.~~0000~~000000% 0.~~0038~~000000% 1.333333% 0.~~0000~~000000% ~~Prepayment~~1.333333% ~~Penalties~~0.000000% 0.00000000% 0.00000000% 0.00000000% ~~Special~~0.000000% ~~Servicing~~Totals ~~Fee~~4.000000% 02.00666667% 01.00333333% 0.00000000% ~~Pass-Through~~8.000000% ~~Rate~~0.000000% 60.~~668130~~000000% 60.~~902322~~000000% 60.~~201698~~000000% 0.000000%

~~Group~~OTHER ~~Level~~INFORMATION ~~Collateral~~Current ~~Statement~~Period ~~Group~~Class ~~Grp~~A ~~II,~~Insufficient ~~Sub~~Funds Grp II Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.677534 7.995245 Weighted Average Net Rate 7.177535 7.495244 Weighted Average Maturity 350 343 Beginning Loan Count 81 3,020 Loans Paid In Full 1 70 Ending Loan Count 80 2,950 Beginning Scheduled Balance 31,824,942.90 399,152,859.92 Ending scheduled Balance 31,404,614.02 388,712,541.65 Record Date 07/31/2004 07/31/2004 Principal And Interest Constant 228,455.88 2,971,378.34 Scheduled Principal 24,841.64 311,965.17 Unscheduled Principal 395,487.24 10,128,353.10 Scheduled Interest 203,614.24 2,659,413.17 Servicing Fees 13,260.37 166,313.69 Master Servicing Fees 397.81 4,989.37 Trustee Fee 0.00 ~~0.00~~Principal ~~FRY~~Balance ~~Amount~~of ~~0.00~~Contaminated ~~0.00~~Properties ~~Special Hazard Fee~~ 0.00 ~~0.00~~Periodic ~~Other~~Advance ~~Fee 13~~183,~~033~~421.19 227,709.60 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 176,922.87 2,260,400.51 Realized Loss Amount 0.00 10,077.18 Cumulative Realized Loss 0.00 10,442.27 Percentage of Cumulative Losses 0.0000 0.0023 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.671101 6.79566508

Filing Compare · HOME EQUITY LOAN TRUST SERIES 2004-HS1