8-K 1 opt04002_sep.txt SEPTEMBER 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): September 27, 2004 OPTION ONE MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2004-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-101483-04 54-2151966 Pooling and Servicing Agreement) (Commission 54-2151967 (State or other File Number) 54-2151968 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 September 27, 2004 a distribution was made to holders of OPTION ONE MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2004-2 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 2004-2 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. OPTION ONE MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2004-2 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: 9/30/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-2 Trust, relating to the September 27, 2004 distribution. EX-99.1

Option One Mortgage Loan Trust Asset Backed Certificates Record Date: 78/31/2004 Distribution Date: 89/2527/2004 OOMC Series: 2004-2 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 68389FFB5 SEN 1.~~66000~~82500% ~~323~~316,~~569~~655,~~790~~519.6904 ~~447~~529,~~604~~738.8830 69,~~914~~335,~~271~~460.6408 A-1B 68389FFC3 SEN 1.~~69000~~85500% ~~192~~188,~~206~~099,~~356~~152.4096 ~~270~~319,~~690~~846.6293 45,~~107~~545,~~203~~433.4553 A-2 68389FFD1 SEN 1.~~56000~~72500% 8275,~~012~~096,~~635~~619.9813 ~~106~~118,~~616~~746.4353 67,~~916~~590,~~016~~430.8572 A-3 68389FFE9 SEN 1.~~66000~~82500% 159,710,000.00 ~~220~~267,~~932~~181.1752 0.00 A-4 68389FFF6 SEN 12.~~90000~~06500% 31,070,000.00 4958,~~194~~812.1792 0.00 M-1 68389FFG4 MEZ 12.~~98000~~14500% 58,000,000.00 95114,~~700~~042.0050 0.00 M-2 68389FFH2 MEZ 2.~~50000~~66500% 47,500,000.00 98116,~~958~~038.3354 0.00 M-3 68389FFJ8 MEZ 2.~~70000~~86500% 14,000,000.00 3136,~~500~~767.0050 0.00 M-4 68389FFK5 MEZ 3.~~25000~~41500% 10,000,000.00 2731,~~083~~304.3317 0.00 M-5 68389FFL3 MEZ 3.~~45000~~61500% 12,500,000.00 3541,~~937~~421.5088 0.00 M-6 68389FFM1 MEZ 4.~~75000~~91500% 10,000,000.00 3945,~~583~~054.3317 0.00 M-7 68389FFN9 MEZ 45.~~95000~~11500% 10,500,000.00 4349,~~312~~231.5088 0.00 C OPT04002C OC 0.00000% 12,500,000.00 3,~~458~~086,~~323~~835.5350 0.00 P OPT04002P pre-pay 0.00000% 100.00 ~~337~~394,~~662~~207.5102 0.00 R OPT0402R1 RES 0.00000% 0.00 0.00 0.00 Totals ~~963~~945,~~568~~631,~~883~~391.0713 5,~~263~~209,~~099~~229.3036 1722,~~937~~471,~~491~~324.9433

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1A 0.00 ~~316~~307,~~655~~320,~~519~~058.0497 79,~~361~~865,~~876~~198.5238 0.00 A-1B 0.00 ~~188~~182,~~099~~553,~~152~~719.9643 45,~~377~~865,~~894~~280.0746 0.00 A-2 0.00 7567,~~096~~506,~~619~~188.1341 7,~~022~~709,~~633~~177.2825 0.00 A-3 0.00 159,710,000.00 ~~220~~267,~~932~~181.1752 0.00 A-4 0.00 31,070,000.00 4958,~~194~~812.1792 0.00 M-1 0.00 58,000,000.00 95114,~~700~~042.0050 0.00 M-2 0.00 47,500,000.00 98116,~~958~~038.3354 0.00 M-3 0.00 14,000,000.00 3136,~~500~~767.0050 0.00 M-4 0.00 10,000,000.00 2731,~~083~~304.3317 0.00 M-5 0.00 12,500,000.00 3541,~~937~~421.5088 0.00 M-6 0.00 10,000,000.00 3945,~~583~~054.3317 0.00 M-7 0.00 10,500,000.00 4349,~~312~~231.5088 0.00 C 0.00 12,500,000.00 3,~~458~~086,~~323~~835.5350 0.00 P 0.00 100.00 ~~337~~394,~~662~~207.5102 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~945~~923,~~631~~160,~~391~~066.1381 2327,~~200~~680,~~591~~553.2469 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 336,690,000.00 ~~323~~316,~~569~~655,~~790~~519.6904 0.00 69,~~914~~335,~~271~~460.6408 0.00 0.00 A-1B 200,000,000.00 ~~192~~188,~~206~~099,~~356~~152.4096 0.00 45,~~107~~545,~~203~~433.4553 0.00 0.00 A-2 97,530,000.00 8275,~~012~~096,~~635~~619.9813 0.00 67,~~916~~590,~~016~~430.8572 0.00 0.00 A-3 159,710,000.00 159,710,000.00 0.00 0.00 0.00 0.00 A-4 31,070,000.00 31,070,000.00 0.00 0.00 0.00 0.00 M-1 58,000,000.00 58,000,000.00 0.00 0.00 0.00 0.00 M-2 47,500,000.00 47,500,000.00 0.00 0.00 0.00 0.00 M-3 14,000,000.00 14,000,000.00 0.00 0.00 0.00 0.00 M-4 10,000,000.00 10,000,000.00 0.00 0.00 0.00 0.00 M-5 12,500,000.00 12,500,000.00 0.00 0.00 0.00 0.00 M-6 10,000,000.00 10,000,000.00 0.00 0.00 0.00 0.00 M-7 10,500,000.00 10,500,000.00 0.00 0.00 0.00 0.00 C 12,499,988.84 12,500,000.00 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 1,000,000,088.84 ~~963~~945,~~568~~631,~~883~~391.0713 0.00 1722,~~937~~471,~~491~~324.9433 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 69,~~914~~335,~~271~~460.6408 ~~316~~307,~~655~~320,~~519~~058.0497 0.~~94049576~~91276860 69,~~914~~335,~~271~~460.6408 A-1B 45,~~107~~545,~~203~~433.4553 ~~188~~182,~~099~~553,~~152~~719.9643 0.~~94049576~~91276860 45,~~107~~545,~~203~~433.4553 A-2 67,~~916~~590,~~016~~430.8572 7567,~~096~~506,~~619~~188.1341 0.~~76998482~~69215819 67,~~916~~590,~~016~~430.8572 A-3 0.00 159,710,000.00 1.00000000 0.00 A-4 0.00 31,070,000.00 1.00000000 0.00 M-1 0.00 58,000,000.00 1.00000000 0.00 M-2 0.00 47,500,000.00 1.00000000 0.00 M-3 0.00 14,000,000.00 1.00000000 0.00 M-4 0.00 10,000,000.00 1.00000000 0.00 M-5 0.00 12,500,000.00 1.00000000 0.00 M-6 0.00 10,000,000.00 1.00000000 0.00 M-7 0.00 10,500,000.00 1.00000000 0.00 C 0.00 12,500,000.00 1.00000089 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 1722,~~937~~471,~~491~~324.9433 ~~945~~923,~~631~~160,~~391~~066.1381 0.~~94563131~~92315998 1722,~~937~~471,~~491~~324.9433

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1A 336,690,000.00 ~~961~~940.~~03178203~~49576477 0.00000000 2027.~~53601723~~72716766 0.00000000 A-1B 200,000,000.00 ~~961~~940.~~03178200~~49576480 0.00000000 2027.~~53601725~~72716765 0.00000000 A-2 97,530,000.00 ~~840~~769.~~89650343~~98481626 0.00000000 7077.~~91168717~~82662483 0.00000000 A-3 159,710,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 31,070,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 58,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 47,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 14,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 10,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 12,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 10,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 10,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 12,499,988.84 1000.00089280 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 (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 2027.~~53601723~~72716766 ~~940~~912.~~49576477~~76859714 0.~~94049576~~91276860 2027.~~53601723~~72716766 A-1B 0.00000000 2027.~~53601725~~72716765 ~~940~~912.~~49576480~~76859715 0.~~94049576~~91276860 2027.~~53601725~~72716765 A-2 0.00000000 7077.~~91168717~~82662483 ~~769~~692.~~98481626~~15819143 0.~~76998482~~69215819 7077.~~91168717~~82662483 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 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 M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 0.00000000 0.00000000 1,000.00089280 1.00000089 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.

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 336,690,000.00 1.~~66000~~82500% ~~323~~316,~~569~~655,~~790~~519.6904 ~~447~~529,~~604~~738.8830 0.00 0.00 A-1B 200,000,000.00 1.~~69000~~85500% ~~192~~188,~~206~~099,~~356~~152.4096 ~~270~~319,~~690~~846.6293 0.00 0.00 A-2 97,530,000.00 1.~~56000~~72500% 8275,~~012~~096,~~635~~619.9813 ~~106~~118,~~616~~746.4353 0.00 0.00 A-3 159,710,000.00 1.~~66000~~82500% 159,710,000.00 ~~220~~267,~~932~~181.1752 0.00 0.00 A-4 31,070,000.00 12.~~90000~~06500% 31,070,000.00 4958,~~194~~812.1792 0.00 0.00 M-1 58,000,000.00 12.~~98000~~14500% 58,000,000.00 95114,~~700~~042.0050 0.00 0.00 M-2 47,500,000.00 2.~~50000~~66500% 47,500,000.00 98116,~~958~~038.3354 0.00 0.00 M-3 14,000,000.00 2.~~70000~~86500% 14,000,000.00 3136,~~500~~767.0050 0.00 0.00 M-4 10,000,000.00 3.~~25000~~41500% 10,000,000.00 2731,~~083~~304.3317 0.00 0.00 M-5 12,500,000.00 3.~~45000~~61500% 12,500,000.00 3541,~~937~~421.5088 0.00 0.00 M-6 10,000,000.00 4.~~75000~~91500% 10,000,000.00 3945,~~583~~054.3317 0.00 0.00 M-7 10,500,000.00 45.~~95000~~11500% 10,500,000.00 4349,~~312~~231.5088 0.00 0.00 C 12,499,988.84 0.00000% 12,500,000.00 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 1,000,000,088.84 1,~~467~~728,~~113~~186.2684 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 ~~447~~529,~~604~~738.8830 0.00 ~~316~~307,~~655~~320,~~519~~058.0497 A-1B 0.00 0.00 ~~270~~319,~~690~~846.6293 0.00 ~~188~~182,~~099~~553,~~152~~719.9643 A-2 0.00 0.00 ~~106~~118,~~616~~746.4353 0.00 7567,~~096~~506,~~619~~188.1341 A-3 0.00 0.00 ~~220~~267,~~932~~181.1752 0.00 159,710,000.00 A-4 0.00 0.00 4958,~~194~~812.1792 0.00 31,070,000.00 M-1 0.00 0.00 95114,~~700~~042.0050 0.00 58,000,000.00 M-2 0.00 0.00 98116,~~958~~038.3354 0.00 47,500,000.00 M-3 0.00 0.00 3136,~~500~~767.0050 0.00 14,000,000.00 M-4 0.00 0.00 2731,~~083~~304.3317 0.00 10,000,000.00 M-5 0.00 0.00 3541,~~937~~421.5088 0.00 12,500,000.00 M-6 0.00 0.00 3945,~~583~~054.3317 0.00 10,000,000.00 M-7 0.00 0.00 4349,~~312~~231.5088 0.00 10,500,000.00 C 0.00 0.00 3,~~458~~086,~~323~~835.5350 0.00 12,500,000.00 P 0.00 0.00 ~~337~~394,~~662~~207.5102 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 5,~~263~~209,~~099~~229.3036 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 336,690,000.00 1.~~66000~~82500% ~~961~~940.~~03178203~~49576477 1.~~32942731~~57337105 0.00000000 0.00000000 A-1B 200,000,000.00 1.~~69000~~85500% ~~961~~940.~~03178200~~49576480 1.~~35345310~~59923465 0.00000000 0.00000000 A-2 97,530,000.00 1.~~56000~~72500% ~~840~~769.~~89650343~~98481626 1.~~09316549~~21753850 0.00000000 0.00000000 A-3 159,710,000.00 1.~~66000~~82500% 1000.00000000 1.~~38333335~~67291666 0.00000000 0.00000000 A-4 31,070,000.00 12.~~90000~~06500% 1000.00000000 1.~~58333344~~89291664 0.00000000 0.00000000 M-1 58,000,000.00 12.~~98000~~14500% 1000.00000000 1.~~65000000~~96625000 0.00000000 0.00000000 M-2 47,500,000.00 2.~~50000~~66500% 1000.00000000 2.~~08333326~~44291663 0.00000000 0.00000000 M-3 14,000,000.00 2.~~70000~~86500% 1000.00000000 2.~~25000000~~62625000 0.00000000 0.00000000 M-4 10,000,000.00 3.~~25000~~41500% 1000.00000000 23.~~70833300~~13041700 0.00000000 0.00000000 M-5 12,500,000.00 3.~~45000~~61500% 1000.00000000 23.~~87500000~~31375040 0.00000000 0.00000000 M-6 10,000,000.00 4.~~75000~~91500% 1000.00000000 34.~~95833300~~50541700 0.00000000 0.00000000 M-7 10,500,000.00 45.~~95000~~11500% 1000.00000000 4.~~12500000~~68875048 0.00000000 0.00000000 C 12,499,988.84 0.00000% 1000.00089280 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) 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.~~32942731~~57337105 0.00000000 ~~940~~912.~~49576477~~76859714 A-1B 0.00000000 0.00000000 1.~~35345310~~59923465 0.00000000 ~~940~~912.~~49576480~~76859715 A-2 0.00000000 0.00000000 1.~~09316549~~21753850 0.00000000 ~~769~~692.~~98481626~~15819143 A-3 0.00000000 0.00000000 1.~~38333335~~67291666 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 1.~~58333344~~89291664 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.~~65000000~~96625000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~08333326~~44291663 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~25000000~~62625000 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 23.~~70833300~~13041700 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 23.~~87500000~~31375040 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 34.~~95833300~~50541700 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 4.~~12500000~~68875048 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~276~~246.~~66612941~~94706047 0.00000000 1000.00089280 P 0.00000000 0.00000000 ~~3376625~~3942070.~~10000000~~20000000 0.00000000 1000.00000000 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 2327,~~377~~808,~~492~~984.9714 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(18,800.0078) Prepayment Penalties ~~337~~394,~~662~~207.5102 Total Deposits 2328,~~715~~184,~~155~~390.4838 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~514~~503,~~564~~836.2470 Payment of Interest and Principal 2327,~~200~~680,~~591~~553.2468 Total Withdrawals (Pool Distribution Amount) 2328,~~715~~184,~~155~~390.4838 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~240~~236,~~892~~407.3682 PMI Mortgage Company ~~271~~265,~~262~~064.8377 Trustee Fee 2,~~409~~364.0511 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~514~~503,~~564~~836.2470

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 1011 10 0 11 1,~~136~~185,~~337~~937.8124 ~~293,280~~0.0200 0.00 1,~~429~~185,~~617~~937.8324 30 Days 94100 0 13 0 95103 1417,~~114~~187,~~368~~683.4721 0.00 95565,~~482~~800.9457 0.00 1417,~~209~~753,~~851~~483.4178 60 Days 3039 23 148 0 4650 56,~~267~~005,~~516~~122.2059 ~~346~~503,~~271~~807.5377 1,~~746~~063,~~185~~905.4121 0.00 7,~~359~~572,~~973~~835.1457 90 Days 1421 49 5569 01 73100 23,~~181~~193,~~408~~265.0724 ~~689~~1,~~851~~400,204.4071 89,~~103~~348,~~194~~892.0858 087,084.0081 1014,~~974~~029,~~453~~447.5534 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 ~~138~~160 1623 7180 01 ~~225~~264 2126,~~563~~386,~~292~~071.7404 23,~~172~~089,~~460~~949.7472 10,~~238~~978,~~142~~598.4536 087,084.0081 3340,~~973~~541,~~895~~703.93 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.~~187091~~210164% 0.~~018709~~000000% 0.000000% 0.~~205800~~210164% 0.~~120122~~128418% 0.~~031003~~000000% 0.000000% 0.~~151125~~128418% 30 Days 1.~~758653~~910585% 0.000000% 0.~~018709~~057318% 0.000000% 1.~~777362~~967902% 1.~~492031~~861144% 0.000000% 0.~~010094~~061267% 0.000000% 1.~~502125~~922411% 60 Days 0.~~561272~~745128% 0.~~037418~~057318% 0.~~261927~~152847% 0.000000% 0.~~860617~~955292% 0.~~556830~~650256% 0.~~036604~~054554% 0.~~184589~~115203% 0.000000% 0.~~778023~~820014% 90 Days 0.~~261927~~401223% 0.~~074836~~171953% 1.~~028999~~318303% 0.~~000000~~019106% 1.~~365762~~910585% 0.~~230597~~345778% 0.~~072924~~151619% 01.~~856589~~012332% 0.~~000000~~009430% 1.~~160110~~519159% 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 23.~~581852~~056935% 0.~~299345~~439434% 1.~~328344~~528468% 0.~~000000~~019106% 45.~~209542~~043943% 2.~~279458~~857179% 0.~~229651~~334591% 1.~~082275~~188802% 0.~~000000~~009430% 34.~~591383~~390002%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 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 2 0 0 2 160,~~447~~325.8400 0.00 0.00 160,~~447~~325.8400 30 Days 1112 0 0 0 1112 1,~~014~~821,~~538~~840.3512 0.00 0.00 0.00 1,~~014~~821,~~538~~840.3512 60 Days 46 0 1 0 50 ~~600~~7 766,~~300~~651.5957 143,504.97 0.00 ~~52,506.49~~ 0.00 ~~652~~910,~~807~~156.0854 90 Days 01 0 911 0 912 0105,301.0014 0.00 1,~~019~~145,~~369~~075.5905 0.00 1,~~019~~250,~~369~~376.5919 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 1519 23 1011 0 2733 12,~~614~~693,~~838~~792.9483 ~~160~~303,~~447~~829.8497 1,~~071~~145,~~876~~075.0805 0.00 24,~~847~~142,~~162~~697.8685 0-29 Days 0.~~181488~~183993% 0.000000% 0.000000% 0.~~181488~~183993% 0.~~100008~~101690% 0.000000% 0.000000% 0.~~100008~~101690% 30 Days 01.~~998185~~103956% 0.000000% 0.000000% 0.000000% 01.~~998185~~103956% 01.~~632366~~155546% 0.000000% 0.000000% 0.000000% 01.~~632366~~155546% 60 Days 0.~~362976~~551978% 0.~~000000~~091996% 0.~~090744~~000000% 0.000000% 0.~~453721~~643974% 0.~~374170~~486267% 0.~~000000~~091021% 0.~~032728~~000000% 0.000000% 0.~~406897~~577289% 90 Days 0.~~000000~~091996% 0.000000% 01.~~816697~~011960% 0.000000% 01.~~816697~~103956% 0.~~000000~~066790% 0.000000% 0.~~635377~~726292% 0.000000% 0.~~635377~~793081% 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 1.~~361162~~747930% 0.~~181488~~275989% 01.~~907441~~011960% 0.000000% 23.~~450091~~035879% 1.~~006536~~708603% 0.~~100008~~192712% 0.~~668105~~726292% 0.000000% 12.~~774649~~627606% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 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 4 10 0 54 563,~~925~~092.1272 ~~293,280~~0.0200 0.00 ~~857~~563,~~205~~092.1472 30 Days 5758 0 13 0 5861 89,~~767~~392,~~907~~579.0187 0.00 95565,~~482~~800.9457 0.00 89,~~863~~958,~~389~~380.9544 60 Days 1621 12 115 0 28 23,~~575~~032,~~239~~926.5878 ~~273~~360,~~022~~302.7280 1716,~~403,813~~192.6596 0.00 4,~~252~~109,~~075~~422.9554 90 Days 710 34 2535 01 3550 1,~~067~~534,~~746~~390.0362 ~~327~~466,~~891~~680.8675 34,~~498~~608,~~741~~406.2780 087,084.0081 46,~~894~~696,~~379~~562.1698 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 8089 810 3843 01 ~~126~~143 1213,~~410~~959,~~892~~897.6227 1,~~164~~390,~~839~~076.7027 5,~~291~~890,~~317~~400.8833 087,084.0081 1821,~~867~~327,~~050~~458.2068 0-29 Days 0.~~147275~~150773% 0.~~036819~~000000% 0.000000% 0.~~184094~~150773% 0.~~122968~~126120% 0.~~063952~~000000% 0.000000% 0.~~186919~~126120% 30 Days 2.~~098675~~186204% 0.000000% 0.~~036819~~113080% 0.000000% 2.~~135493~~299284% 12.~~911899~~103732% 0.000000% 0.~~020821~~126727% 0.000000% 12.~~932720~~230459% 60 Days 0.~~589102~~791557% 0.~~036819~~075386% 0.~~405007~~188466% 0.000000% 1.~~030928~~055409% 0.~~561548~~679309% 0.~~059534~~080700% 0.~~306111~~160411% 0.000000% 0.~~927193~~920420% 90 Days 0.~~257732~~376932% 0.~~110457~~150773% 01.~~920471~~319261% 0.~~000000~~037693% 1.~~288660~~884659% 0.~~232829~~343670% 0.~~071499~~104526% 01.~~762923~~032182% 0.~~000000~~019505% 1.~~067251~~499883% 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 23.~~945508~~354693% 0.~~294551~~376932% 1.~~399116~~620807% 0.~~000000~~037693% 45.~~639175~~390124% 23.~~706276~~126710% 0.~~254001~~311347% 1.~~153806~~319320% 0.~~000000~~019505% 4.~~114084~~776882% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 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 12 0 0 12 67118,~~100~~015.9698 0.00 0.00 67118,~~100~~015.9698 30 Days 97 0 0 0 97 ~~662~~677,~~033~~942.1501 0.00 0.00 0.00 ~~662~~677,~~033~~942.1501 60 Days 04 0 01 0 05 0268,079.0075 0.00 057,637.0042 0.00 0325,717.0017 90 Days 10 0 45 0 5 ~~64,574~~0.4100 0.00 ~~742~~806,~~216~~304.4015 0.00 806,~~790~~304.8115 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 1011 12 46 0 1519 ~~726~~946,~~607~~021.5676 67118,~~100~~015.9698 ~~742~~863,~~216~~941.4057 0.00 1,~~535~~927,~~924~~979.9231 0-29 Days 0.~~191939~~389105% 0.000000% 0.000000% 0.~~191939~~389105% 0.~~081572~~144818% 0.000000% 0.000000% 0.~~081572~~144818% 30 Days 1.~~727447~~361868% 0.000000% 0.000000% 0.000000% 1.~~727447~~361868% 0.~~804811~~831906% 0.000000% 0.000000% 0.000000% 0.~~804811~~831906% 60 Days 0.~~000000~~778210% 0.000000% 0.~~000000~~194553% 0.000000% 0.~~000000~~972763% 0.~~000000~~328962% 0.000000% 0.~~000000~~070727% 0.000000% 0.~~000000~~399689% 90 Days 0.~~191939~~000000% 0.000000% 0.~~767754~~972763% 0.000000% 0.~~959693~~972763% 0.~~078501~~000000% 0.000000% 0.~~902287~~989420% 0.000000% 0.~~980788~~989420% 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.~~919386~~140078% 0.~~191939~~389105% 01.~~767754~~167315% 0.000000% 23.~~879079~~696498% 01.~~883312~~160868% 0.~~081572~~144818% 01.~~902287~~060147% 0.000000% 12.~~867171~~365833% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 3 344,~~863~~503.8954 0.00 0.00 344,~~863~~503.8954 30 Days 1723 0 0 0 1723 35,~~669~~295,~~889~~321.9621 0.00 0.00 0.00 35,~~669~~295,~~889~~321.9621 60 Days 108 10 2 0 1310 21,~~091~~937,~~976~~464.0349 ~~73,248~~0.8100 ~~289~~290,~~865~~074.2783 0.00 2,~~455~~227,~~090~~539.1132 90 Days 610 15 1718 0 2433 1,~~049~~553,~~087~~573.6348 ~~361~~933,~~959~~523.5496 2,~~842~~789,~~866~~106.8258 0.00 45,~~253~~276,~~913~~204.9902 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 3341 58 1920 0 5769 68,~~810~~786,~~953~~359.6218 ~~780~~1,~~072~~278,027.2450 3,~~132~~079,~~732~~181.0941 0.00 1013,~~723~~143,~~757~~568.9509 0-29 Days 0.~~298211~~306122% 0.000000% 0.000000% 0.~~298211~~306122% 0.~~140938~~144825% 0.000000% 0.000000% 0.~~140938~~144825% 30 Days 12.~~689861~~346939% 0.000000% 0.000000% 0.000000% 12.~~689861~~346939% 12.~~499799~~226091% 0.000000% 0.000000% 0.000000% 12.~~499799~~226091% 60 Days 0.~~994036~~816327% 0.~~099404~~000000% 0.~~198807~~204082% 0.000000% 1.~~292247~~020408% 0.~~854942~~814487% 0.~~029935~~000000% 0.~~118461~~121944% 0.000000% 10.~~003338~~936431% 90 Days 01.~~596421~~020408% 0.~~099404~~510204% 1.~~689861~~836735% 0.000000% 23.~~385686~~367347% 0.~~428738~~653104% 0.~~147924~~392443% 1.~~161814~~172508% 0.000000% 12.~~738476~~218054% 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 34.~~280318~~183673% 0.~~497018~~816327% 12.~~888668~~040816% 0.000000% 57.~~666004~~040816% 23.~~783479~~693682% 0.~~318797~~537268% 1.~~280275~~294452% 0.000000% 45.~~382551~~525402%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~431~~461,~~465~~804.5913 Class M-1 117,000,088.84 11.70000784% 117,000,100.00 12.~~37269628~~67386927% 6.~~133468~~282767% 0.000000% Class M-2 69,500,088.84 6.95000827% 69,500,100.00 7.~~34959739~~52849939% 5.~~023099~~145370% 0.000000% Class M-3 55,500,088.84 5.55000839% 55,500,100.00 56.~~86910508~~01196932% 1.~~480492~~516530% 0.000000% Class M-4 45,500,088.84 4.55000848% 45,500,100.00 4.~~81161057~~92873356% 1.~~057495~~083236% 0.000000% Class R-I 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 6.~~774815~~773390% Weighted Average Net Coupon 6.~~474815~~473390% Weighted Average Pass-Through Rate 6.~~133992~~134024% Weighted Average Maturity(Stepdown Calculation ) ~~351~~350 Beginning Scheduled Collateral Loan Count 5,~~428~~345 Number Of Loans Paid In Full 83111 Ending Scheduled Collateral Loan Count 5,~~345~~234 Beginning Scheduled Collateral Balance ~~963~~945,~~568~~631,~~883~~391.0713 Ending Scheduled Collateral Balance ~~945~~923,~~631~~160,~~391~~066.1380 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2004 ~~945~~923,~~983~~500,~~531~~821.9962 Monthly P &I Constant 6,~~284~~171,~~332~~311.1107 Special Servicing Fee 0.00 Prepayment Penalties ~~337~~394,~~662~~207.5102 Realized Loss Amount 018,800.0078 Cumulative Realized Loss ~~0.00 Ending Scheduled Balance for Premium Loans 945~~18,~~631,391~~800.1378 Scheduled Principal ~~844~~833,~~331~~702.4955 Unscheduled Principal 1721,~~093~~637,~~160~~621.4578

Credit Enhancement: 18.~~16165~~50615% Trigger Event: Not Triggered In Effect Since: N/A Comments: N/A Stepdown Date Do Not Step Down In Effect Since N/A Comments N/A Unscheduled Principal - Voluntary 1721,~~093~~637,~~160~~621.4578 Unscheduled Principal - Involuntary 000.00 Other Income 051.0038 Delinquency Cut-Off Balance ~~954~~935,~~685~~871,~~883~~746.6179

Miscellaneous Reporting General Excess Available Amt 3,~~458~~105,~~323~~636.4634 Extra Principal Distribution Amt 018,800.0078 Overcollateralization Amt 12,500,000.00 Overcollateralization Deficit Amt 0.00 Overcollateralization Increase Amt 0.00 Overcollateralization Release Amt 0.00 Specified Overcollateralization Amt 12,500,000.00 Stepdown FALSE Trigger Event FALSE

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.~~182898~~178508 6.~~638241~~634695 7.~~279805~~267880 Weighted Average Net Rate 6.~~882898~~878508 6.~~338241~~334695 6.~~979805~~967882 Weighted Average Maturity ~~357~~356 ~~357~~356 ~~357~~356 Beginning Loan Count 1,~~112~~102 2,~~763~~716 ~~527~~521 Loans Paid In Full 1015 4763 67 Ending Loan Count 1,~~102~~087 2,~~716~~653 ~~521~~514 Beginning Scheduled Balance ~~162~~160,~~083~~386,~~546~~094.7786 ~~467~~458,~~739~~415,~~256~~233.8668 82,~~827~~237,~~101~~867.1152 Ending scheduled Balance ~~160~~157,~~386~~618,~~094~~236.8638 ~~458~~446,~~415~~295,~~233~~847.6897 8281,~~237~~471,~~867~~572.5288 Record Date 0708/31/2004 0708/31/2004 0708/31/2004 Principal And Interest Constant 1,~~131~~119,~~171~~043.0915 2,~~990~~930,~~258~~159.9331 ~~580~~578,~~743~~496.3820 Scheduled Principal ~~160~~159,~~979~~599.7207 ~~402~~395,~~787~~621.4871 7880,~~272~~417.4608 Unscheduled Principal 12,~~536~~608,~~472~~259.1941 811,~~921~~723,~~235~~764.7000 ~~510~~685,~~961~~877.1356 Scheduled Interest ~~970~~959,~~191~~444.3708 2,~~587~~534,~~471~~537.4560 ~~502~~498,~~470~~079.9212 Servicing Fees 40,~~521~~096.0059 ~~116~~114,~~934~~603.8479 20,~~706~~559.7743 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~405~~400.2489 1,~~169~~146.4108 ~~207~~205.0561 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 3837,~~312~~853.6040 ~~148~~144,~~454~~512.3810 14,~~054~~040.0357 Net Interest ~~929~~919,~~670~~347.3856 2,~~470~~419,~~536~~933.5891 ~~481~~477,~~764~~519.1479 Realized Loss Amount 0.00 018,800.0078 0.00 Cumulative Realized Loss 0.00 018,800.0078 0.00 Percentage of Cumulative Losses 0.0000 0.~~0000~~0039 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~596248~~592290 5.~~954376~~953402 6.~~773190~~760005

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.~~599103~~601426 6.~~774815~~773390 Weighted Average Net Rate 6.~~299103~~301426 6.~~474815~~473390 Weighted Average Maturity ~~357~~356 ~~351~~350 Beginning Loan Count 1,~~026~~006 5,~~428~~345 Loans Paid In Full 2026 83111 Ending Loan Count ~~1,006~~980 5,~~345~~234 Beginning Scheduled Balance ~~250~~244,~~918~~592,~~978~~195.3307 ~~963~~945,~~568~~631,~~883~~391.0713 Ending scheduled Balance ~~244~~237,~~592~~774,~~195~~409.0757 ~~945~~923,~~631~~160,~~391~~066.1380 Record Date 0708/31/2004 0708/31/2004 Principal And Interest Constant 1,~~582~~543,~~158~~612.7141 6,~~284~~171,~~332~~311.1107 Scheduled Principal ~~202~~198,~~291~~064.8369 ~~844~~833,~~331~~702.4955 Unscheduled Principal 6,~~124~~619,~~491~~720.4381 1721,~~093~~637,~~160~~621.4578 Scheduled Interest 1,~~379~~345,~~866~~547.8872 5,~~440~~337,~~000~~608.6252 Servicing Fees 6261,~~729~~148.7501 ~~240~~236,~~892~~407.3682 Master Servicing Fees 0.00 0.00 Trustee Fee ~~627~~611.3553 2,~~409~~364.0511 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 7068,~~441~~658.8270 ~~271~~265,~~262~~064.8377 Net Interest 1,~~317~~284,~~137~~399.0571 5,~~199~~101,~~108~~200.1597 Realized Loss Amount 0.00 018,800.0078 Cumulative Realized Loss 0.00 018,800.0078 Percentage of Cumulative Losses 0.0000 0.~~0000~~0019 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 5.~~959221~~961577 6.~~133992~~134024

Filing Compare · OPTION ONE MORTGAGE ACCEPTANCE LOAN TRUST 2004-2