8-K 1 ace04hs1_nov.txt NOVEMBER 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): November 26, 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 November 26, 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 November 26, 2004 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 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: 12/2/2004 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 November 26, 2004 distribution. EX-99.1

ACE Securities Corporation ~~Home~~Mortgage ~~Equity Loan Trust Asset Backed~~ Pass-Through Certificates Record Date: 810/31/2004 Distribution Date: 911/2726/2004 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 12.~~87500~~19250% ~~247~~219,~~272~~749,~~529~~471.5205 ~~424~~428,~~999~~267.6830 1012,~~609~~694,~~876~~483.6787 A-2 004421DY6 SEN 12.~~90500~~22250% 3633,~~100~~061,~~413~~154.8400 6365,~~040~~314.3515 13,~~914~~321,~~989~~122.8694 A-3 004421DZ3 SEN 2.~~01500~~33250% 33,548,000.00 6169,~~965~~556.9519 0.00 M-1 004421EA7 MEZ 2.~~16500~~48250% 25,800,000.00 5156,~~202~~932.2500 0.00 M-2 004421EB5 MEZ 23.~~81500~~13250% 21,313,000.00 5459,~~996~~344.4286 0.00 M-3 004421EC3 MEZ 3.~~11500~~43250% 6,730,000.00 1920,~~216~~533.9598 0.00 M-4 004421ED1 MEZ 3.~~31500~~63250% 5,609,000.00 1718,~~044~~110.3584 0.00 M-5 004421EE9 MEZ 3.~~61500~~93250% 5,609,000.00 1819,~~586~~606.8257 0.00 M-6 004421EF6 MEZ 5.~~11500~~43250% 4,487,000.00 21,~~038~~667.4222 0.00 CE 111282976 JUN 0.00000% 2,243,498.28 1,~~444~~268,~~828~~652.5749 0.00 P 111282984 SEN 0.00000% 100.00 ~~169~~220,~~939~~772.8740 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 ~~388~~358,~~712~~150,~~541~~223.6433 2,~~346~~248,~~859~~758.6300 1216,~~524~~015,~~866~~606.5381

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~236~~207,~~662~~054,~~652~~987.8618 1113,~~034~~122,~~876~~751.3517 0.00 A-2 0.00 3429,~~185~~740,~~423~~031.9806 13,~~978~~386,~~030~~437.2109 0.00 A-3 0.00 33,548,000.00 6169,~~965~~556.9519 0.00 M-1 0.00 25,800,000.00 5156,~~202~~932.2500 0.00 M-2 0.00 21,313,000.00 5459,~~996~~344.4286 0.00 M-3 0.00 6,730,000.00 1920,~~216~~533.9598 0.00 M-4 0.00 5,609,000.00 1718,~~044~~110.3584 0.00 M-5 0.00 5,609,000.00 1819,~~586~~606.8257 0.00 M-6 0.00 4,487,000.00 21,~~038~~667.4222 0.00 CE 0.00 2,243,498.28 1,~~444~~268,~~828~~652.5749 0.00 P 0.00 100.00 ~~169~~220,~~939~~772.8740 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 ~~376~~342,~~187~~134,~~675~~616.1252 1418,~~871~~264,~~726~~364.1681 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 ~~247~~219,~~272~~749,~~529~~471.5205 0.00 1012,~~609~~694,~~876~~483.6787 0.00 0.00 A-2 41,426,000.00 3633,~~100~~061,~~413~~154.8400 0.00 13,~~914~~321,~~989~~122.8694 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 ~~388~~358,~~712~~150,~~541~~223.6433 0.00 1216,~~524~~015,~~866~~606.5381 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 1012,~~609~~694,~~876~~483.6787 ~~236~~207,~~662~~054,~~652~~987.8618 0.~~78382247~~68576241 1012,~~609~~694,~~876~~483.6787 A-2 13,~~914~~321,~~989~~122.8694 3429,~~185~~740,~~423~~031.9806 0.~~82521663~~71790738 13,~~914~~321,~~989~~122.8694 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 1216,~~524~~015,~~866~~606.5381 ~~376~~342,~~187~~134,~~675~~616.1252 0.~~83839528~~76250252 1216,~~524~~015,~~866~~606.5381

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 ~~818~~727.~~96218882~~80631214 0.00000000 3542.~~13972150~~04390320 0.00000000 A-2 41,426,000.00 ~~871~~798.~~44338918~~07739101 0.00000000 4680.~~22676242~~17001255 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 3542.~~13972150~~04390320 ~~783~~685.~~82246736~~76240894 0.~~78382247~~68576241 3542.~~13972150~~04390320 A-2 0.00000000 4680.~~22676242~~17001255 ~~825~~717.~~21662676~~90737846 0.~~82521663~~71790738 4680.~~22676242~~17001255 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 12.~~87500~~19250% ~~247~~219,~~272~~749,~~529~~471.5205 ~~424~~428,~~999~~267.6630 0.00 0.00 A-2 41,426,000.00 12.~~90500~~22250% 3633,~~100~~061,~~413~~154.8400 6365,~~040~~314.3515 0.00 0.00 A-3 33,548,000.00 2.~~01500~~33250% 33,548,000.00 6169,~~965~~556.9519 0.00 0.00 M-1 25,800,000.00 2.~~16500~~48250% 25,800,000.00 5156,~~202~~932.2500 0.00 0.00 M-2 21,313,000.00 23.~~81500~~13250% 21,313,000.00 5459,~~996~~344.4286 0.00 0.00 M-3 6,730,000.00 3.~~11500~~43250% 6,730,000.00 1920,~~216~~533.9598 0.00 0.00 M-4 5,609,000.00 3.~~31500~~63250% 5,609,000.00 1718,~~044~~110.3584 0.00 0.00 M-5 5,609,000.00 3.~~61500~~93250% 5,609,000.00 1819,~~586~~606.8257 0.00 0.00 M-6 4,487,000.00 5.~~11500~~43250% 4,487,000.00 21,~~038~~667.4222 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 ~~732~~759,~~091~~333.1711 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.~~02)~~00 0.00 ~~424~~428,~~999~~267.6830 0.00 ~~236~~207,~~662~~054,~~652~~987.8618 A-2 0.00 0.00 6365,~~040~~314.3515 0.00 3429,~~185~~740,~~423~~031.9806 A-3 0.00 0.00 6169,~~965~~556.9519 0.00 33,548,000.00 M-1 0.00 0.00 5156,~~202~~932.2500 0.00 25,800,000.00 M-2 0.00 0.00 5459,~~996~~344.4286 0.00 21,313,000.00 M-3 0.00 0.00 1920,~~216~~533.9598 0.00 6,730,000.00 M-4 0.00 0.00 1718,~~044~~110.3584 0.00 5,609,000.00 M-5 0.00 0.00 1819,~~586~~606.8257 0.00 5,609,000.00 M-6 0.00 0.00 21,~~038~~667.4222 0.00 4,487,000.00 CE 0.00 0.00 1,~~444~~268,~~828~~652.5749 0.00 2,243,498.28 P 0.00 0.00 ~~169~~220,~~939~~772.8740 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.~~02)~~00 0.00 2,~~346~~248,~~859~~758.6300 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 12.~~87500~~19250% ~~818~~727.~~96218882~~80631214 1.~~40759126~~41841363 0.00000000 0.00000000 A-2 41,426,000.00 12.~~90500~~22250% ~~871~~798.~~44338918~~07739101 1.~~52175807~~57664631 0.00000000 0.00000000 A-3 33,548,000.00 2.~~01500~~33250% 1000.00000000 12.~~84708328~~07333343 0.00000000 0.00000000 M-1 25,800,000.00 2.~~16500~~48250% 1000.00000000 12.~~98458333~~20666667 0.00000000 0.00000000 M-2 21,313,000.00 23.~~81500~~13250% 1000.00000000 2.~~58041665~~78444424 0.00000000 0.00000000 M-3 6,730,000.00 3.~~11500~~43250% 1000.00000000 23.~~85541605~~05111144 0.00000000 0.00000000 M-4 5,609,000.00 3.~~31500~~63250% 1000.00000000 3.~~03875022~~22888929 0.00000000 0.00000000 M-5 5,609,000.00 3.~~61500~~93250% 1000.00000000 3.~~31374933~~49555536 0.00000000 0.00000000 M-6 4,487,000.00 5.~~11500~~43250% 1000.00000000 4.~~68874972~~82888790 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.~~00000007)~~00000000 0.00000000 1.~~40759133~~41841363 0.00000000 ~~783~~685.~~82246736~~76240894 A-2 0.00000000 0.00000000 1.~~52175807~~57664631 0.00000000 ~~825~~717.~~21662676~~90737846 A-3 0.00000000 0.00000000 12.~~84708328~~07333343 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 12.~~98458333~~20666667 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~58041665~~78444424 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 23.~~85541605~~05111144 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~03875022~~22888929 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.~~31374933~~49555536 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 4.~~68874972~~82888790 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~643~~565.~~99035078~~46498250 0.00000000 999.97416601 P 0.00000000 0.00000000 ~~1699398~~2207724.~~70000000~~00000000 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 1418,~~915~~394,~~578~~944.4362 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~183~~194,~~421~~139.0874 Realized Loss (Gains, Subsequent Expenses & Recoveries) (~~23,772~~650.8700) Prepayment Penalties ~~169~~220,~~939~~772.8740 Total Deposits 1518,~~245~~809,~~166~~206.5176 Withdrawals Reimbursement for Servicer Advances ~~146~~186,~~441~~041.4851 Payment of Service Fee ~~226~~358,~~998~~800.8744 Payment of Interest and Principal 1418,~~871~~264,~~726~~364.1681 Total Withdrawals (Pool Distribution Amount) 1518,~~245~~809,~~166~~206.5176 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 0149,229.0024 Credit Risk Manager Fee - The Murrayhill Company 4,~~858~~476.94 Master Servicing Fee - Wells Fargo 4,~~858~~476.94 MGIC ~~217~~200,~~280~~617.9932 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~226~~358,~~998~~800.8744

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 1112 02 0 1114 1,~~070~~415,~~548~~660.4908 0274,792.0008 0.00 1,~~070~~690,~~548~~452.4916 30 Days 7169 02 03 0 7174 109,~~405~~542,~~810~~718.4653 0323,607.0084 0507,826.0084 0.00 10,~~405~~374,~~810~~153.4621 60 Days 1911 25 1410 0 3526 21,~~913~~351,~~848~~898.5781 ~~223~~563,~~973~~370.8009 21,~~175~~204,~~573~~751.4759 0.00 53,~~313~~120,~~395~~020.8449 90 Days 15 32 1013 20 1620 ~~174~~750,~~777~~676.5477 ~~592~~528,~~538~~319.73 1,~~245~~507,~~034~~041.1901 ~~293,734~~0.1000 2,~~306~~786,~~084~~037.5651 120 Days 01 56 13 50 2320 0232,011.0063 ~~720~~700,~~126~~471.4669 1,~~760~~922,~~987~~088.6822 ~~394,462~~0.1500 2,~~875~~854,~~576~~571.2954 150 Days 30 1 4 54 39 ~~15 303,909~~0.4400 ~~409~~61,~~465~~967.1855 ~~467~~550,~~732~~181.5095 ~~185~~459,~~643~~655.1793 1,~~366~~071,~~750~~805.2943 180+ Days 3 49 1023 618 2353 ~~245~~266,~~020~~460.1238 ~~478~~956,~~774~~814.5889 12,~~341~~758,~~269~~719.0956 ~~778~~1,~~723~~904,549.72 25,~~843~~886,~~787~~544.5155 Totals 9789 2937 5268 1622 ~~194~~216 1412,~~043~~143,~~366~~766.1312 34,~~495~~550,~~427~~211.2487 68,~~990~~725,~~596~~401.9325 12,~~652~~364,~~563~~205.1465 2627,~~181~~783,~~953~~584.4489 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.~~383275~~452489% 0.~~000000~~075415% 0.000000% 0.~~383275~~527903% 0.~~284424~~413532% 0.~~000000~~080270% 0.000000% 0.~~284424~~493802% 30 Days 2.~~473868~~601810% 0.~~000000~~075415% 0.~~000000~~113122% 0.000000% 2.~~473868~~790347% 2.~~764625~~787545% 0.~~000000~~094530% 0.~~000000~~148342% 0.000000% 23.~~764625~~030418% 60 Days 0.~~662021~~414781% 0.~~069686~~188537% 0.~~487805~~377074% 0.000000% 10.~~219512~~980392% 0.~~774154~~394906% 0.~~059506~~164567% 0.~~578008~~351923% 0.000000% 10.~~411668~~911396% 90 Days 0.~~034843~~188537% 0.~~104530~~075415% 0.~~348432~~490196% 0.~~069686~~000000% 0.~~557491~~754148% 0.~~046435~~219282% 0.~~157426~~154329% 0.~~330782~~440225% 0.~~078040~~000000% 0.~~612683~~813836% 120 Days 0.~~000000~~037707% 0.~~174216~~226244% 0.~~452962~~490196% 0.~~174216~~000000% 0.~~801394~~754148% 0.~~000000~~067773% 0.~~191324~~204616% 0.~~467861~~561466% 0.~~104801~~000000% 0.~~763986~~833855% 150 Days 0.~~104530~~000000% 0.~~139373~~037707% 0.~~174216~~150830% 0.~~104530~~150830% 0.~~522648~~339367% 0.~~080743~~000000% 0.~~108787~~018101% 0.~~124268~~160715% 0.~~049322~~134271% 0.~~363119~~313088% 180+ Days 0.~~104530~~113122% 0.~~139373~~339367% 0.~~348432~~867270% 0.~~209059~~678733% 01.~~801394~~998492% 0.~~065097~~077836% 0.~~127201~~279497% 0.~~356350~~805856% 0.~~206892~~556342% 01.~~755540~~719532% Totals 3.~~379791~~355958% 1.~~010453~~395173% 12.~~811847~~564103% 0.~~557491~~829563% 68.~~759582~~144796% 3.~~731054~~547343% 01.~~928668~~329173% 12.~~857268~~548797% 0.~~439054~~690613% 68.~~956044~~115926%

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 32 01 0 3 ~~285~~293,~~388~~672.6437 077,761.0070 0.00 ~~285~~371,~~388~~434.6407 30 Days 1622 01 0 0 1623 12,~~947~~289,~~534~~657.6587 0122,958.0040 0.00 0.00 12,~~947~~412,~~534~~616.6527 60 Days 3 2 1 3 0 68 ~~170~~198,~~567~~951.4867 77140,~~352~~313.9783 ~~465~~281,~~673~~447.1147 0.00 ~~713~~620,~~593~~712.5697 90 Days 0 21 3 0 54 0.00 ~~112~~48,~~679~~944.1989 ~~242~~209,~~985~~175.0702 0.00 ~~355~~258,~~664~~119.2691 120 Days 0 1 2 0 3 0.00 69,785.54 215,696.02 0.00 285,481.56 150 Days 0 1 21 40 2 0.00 ~~177~~61,~~627~~967.9855 8078,~~588~~927.18 0.00 140,894.73 ~~116~~180 Days 0 3 3 6 12 0.00 367,~~951~~713.7759 ~~375~~196,~~168~~731.4845 654,295.31 1,218,740.35 Totals 25 11 13 6 55 2,488,609.54 1,105,356.17 1,059,738.84 654,295.31 5,307,999.86 0-29 Days 0.210748% 0.105374% 0.000000% 0.316122% 0.292816% 0.077535% 0.000000% 0.370351% 30 Days 2.318230% 0.105374% 0.000000% 0.000000% 2.423604% 2.282980% 0.122600% 0.000000% 0.000000% 2.405580% 60 Days 0.316122% 0.210748% 0.316122% 0.000000% 0.842993% 0.198371% 0.139905% 0.280627% 0.000000% 0.618903% 90 Days 0.000000% 0.105374% 0.316122% 0.000000% 0.421496% 0.000000% 0.048802% 0.208565% 0.000000% 0.257367% 120 Days 0.000000% 0.105374% 0.210748% 0.000000% 0.316122% 0.000000% 0.069582% 0.215067% 0.000000% 0.284649% 150 Days 0.000000% 0.105374% 0.105374% 0.000000% 0.210748% 0.000000% 0.061787% 0.078697% 0.000000% 0.140484% 180 Days 0.000000% 0.316122% 0.316122% 0.632244% 1.264489% 0.000000% 0.366641% 0.196158% 0.652387% 1.215186% 3Totals 2.634352% 1.159115% 1.369863% 0.632244% 5.795574% ~~68,261~~2.65481352% 1.102133% 1.056648% 0.652387% 5.292520% 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 10 1 0 11 1,121,~~823~~987.9671 ~~190~~197,~~745~~030.6538 0.00 ~~380~~1,~~831~~319,018.09 30 Days 44 1 3 0 48 6,120,742.27 200,649.44 507,826.84 0.00 6,829,218.55 60 Days 8 3 7 0 18 1,152,947.14 423,056.26 ~~180~~923,304.12 0.00 2,499,307.52 90 Days 5 0 10 0 15 750,676.77 0.00 31,297,865.99 30.00 2,048,542.76 120 Days 1 4 10 0 15 232,011.63 292,021.35 1,249,412.00 0.00 1,773,444.98 150 Days 0 0 3 4 7 0.00 ~~462~~0.00 471,~~740~~254.6177 ~~462~~459,~~740~~655.6193 ~~Totals~~930,910.70 180 Days 3 6 19 812 1040 5266,460.38 42589,101.30 2,~~186~~195,~~363~~150.78 ~~774~~1,~~872~~250,254.7441 ~~979~~4,~~992~~300,966.5687 ~~579~~Totals 61 24 53 16 154 8,~~692~~522,838.3819 42,~~520~~626,~~921~~816.4606 6,841,844.88 1,709,910.34 19,701,409.47 0-29 Days 0.~~298805~~622278% 0.062228% 0.000000% 0.684505% 0.548963% 0.096402% 0.000000% 0.~~298805~~645365% 30 Days 2.738021% 0.062228% 0.186683% 0.000000% 2.986932% 2.994738% 0.098173% 0.248468% 0.000000% 3.341379% 60 Days 0.497822% 0.186683% 0.435594% 0.000000% 1.120100% 0.564110% 0.206992% 0.451751% 0.000000% 301.222853% 90 Days 10.~~593625~~311139% 0.000000% 0.622278% 0.000000% 0.933416% 0.367289% 0.000000% 0.635016% 0.000000% 1.~~593625~~002305% 120 Days 0.062228% 0.248911% 0.622278% 0.000000% 0.933416% 0.113518% 0.142879% 0.611308% 0.000000% 0.867706% 150 Days 0.000000% 0.000000% 0.186683% 0.248911% 0.435594% 0.000000% 0.000000% 0.230574% 0.224899% 0.455473% 180 Days 0.186683% 0.373367% 1.182327% 0.746733% 2.489110% 0.130373% 0.288234% 1.074037% 0.611721% 2.104364% Totals 3.795893% 1.493466% 3.298071% 0.995644% 9.583074% 4.170028% 1.285240% 3.347557% 0.836620% 9.639444% 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.~~199203~~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 1 0 1 0.00 0.00 456,980.20 0.00 456,980.20 150 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 0 0 1 0 1 0.00 0.00 456,980.20 0.00 456,980.20 0-29 Days 0.000000% 0.~~099602~~000000% 0.~~298805~~000000% 0.000000% 0.~~597610~~000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 900.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.~~199203~~000000% 0.~~298805~~000000% 0.000000% 0.~~498008~~000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% ~~120~~90 Days 0.000000% 0.~~099602~~000000% 0.~~099602~~000000% 0.~~199203~~000000% 0.~~398406~~000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 3.333333% 0.000000% 3.333333% 0.000000% 0.000000% 3.848053% 0.000000% 3.848053% 150 Days 0.~~099602~~000000% 0.~~099602~~000000% 0.~~298805~~000000% 0.000000% 0.~~498008~~000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.~~298805~~000000% 0.~~298805~~000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 3.333333% 0.000000% 3.333333% 0.000000% 0.000000% 3.848053% 0.000000% 3.848053% 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 3 0 0 0 3 1,132,318.~~892430~~39 0.00 0.00 0.00 1,132,318.39 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 1 0 0 1 0.00 479,374.84 0.00 0.00 479,374.84 120 Days 0 1 0 0 1 0.00 338,664.80 0.00 0.00 338,664.80 150 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 3 2 1 0 6 1,132,318.39 818,039.64 366,837.33 0.00 2,317,195.36 0-29 Days 0.000000% 0.~~796813~~000000% 0.~~996016~~000000% 0.~~498008~~000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 4.~~183267~~545455% 0.000000% 0.000000% 0.000000% 4.545455% 4.391766% 0.000000% 0.000000% 0.000000% 4.391766% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 1.515152% 0.000000% 0.000000% 1.515152% 0.000000% 1.859284% 0.000000% 0.000000% 1.859284% 120 Days 0.000000% 1.515152% 0.000000% 0.000000% 1.515152% 0.000000% 1.313532% 0.000000% 0.000000% 1.313532% 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% 1.515152% 0.000000% 1.515152% 0.000000% 0.000000% 1.422801% 0.000000% 1.422801% Totals 4.545455% 3.030303% 1.515152% 0.000000% 9.090909% 4.391766% 3.172816% 1.422801% 0.000000% 8.987383%

~~DELINQUENT~~OTHER ~~BANKRUPTCY~~INFORMATION ~~FORECLOSURE~~Current ~~REO~~Period ~~Total~~Class ~~Grp~~A I,Insufficient ~~Sub~~Funds ~~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 ~~0.00~~Principal ~~785,159.85~~Balance 30of ~~Days~~Contaminated 51Properties 0 ~~0 0 51 6,959,466~~.~~70 0.~~00 ~~0.00~~Periodic ~~0.00~~Advance 6194,~~959,466~~139.70 60 Days 17 1 10 0 28 2,743,281.09 146,620.83 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%

~~DELINQUENT~~COLLATERAL ~~BANKRUPTCY~~STATEMENT ~~FORECLOSURE~~Collateral ~~REO~~Description ~~Total~~Mixed ~~Grp~~Fixed ~~II,~~& ~~Sub~~Arm ~~Grp~~Weighted IAverage NoGross ofCoupon ~~Loans~~7.999222% NoWeighted ofAverage ~~Loans~~Net NoCoupon of7.499222% ~~Loans~~Weighted NoAverage ofPass-Through ~~Loans~~Rate No6.797044% ofWeighted ~~Loans~~Average ~~Principal~~Maturity(Stepdown ~~Balance~~Calculation ~~Principal~~) ~~Balance~~340 ~~Principal~~Beginning ~~Balance~~Scheduled ~~Principal~~Collateral ~~Balance~~Loan ~~Principal~~Count ~~Balance~~2,753 ~~0-29~~Number ~~Days~~Of 0Loans 0Paid 0In 0Full ~~0.00~~101 ~~0.00~~Ending ~~0.00~~Scheduled ~~0.00~~Collateral 30Loan ~~Days~~Count 12,652 0Beginning 0Scheduled 0Collateral 1Balance ~~360~~358,~~325.07 0.00 0.00 0.00 360~~150,~~325~~223.0733 60Ending ~~Days~~Scheduled 0Collateral 0Balance ~~1 0 1 0.00 0.00 456~~342,~~980.20 0.00 456~~134,~~980~~616.2052 90Ending ~~Days~~Actual 0Collateral 0Balance 0at 031-Oct-2004 ~~0 0~~342,334,122.0060 ~~0.00~~Monthly ~~0.00~~P ~~0.00~~&I ~~0.00~~Constant ~~120 Days 0 0 0 0 0 0~~2,675,158.0082 ~~0.00~~Special ~~0.00~~Servicing ~~0.00~~Fee 0.00 ~~150~~Prepayment ~~Days~~Penalties ~~0 0 0 0 0 0~~220,772.0040 ~~0.00~~Realized ~~0.00~~Loss ~~0.00~~Amount 0650.00 ~~180~~Cumulative ~~Days~~Realized 0Loss ~~0 0 0 0 0~~77,548.0042 ~~0.00~~Ending ~~0.00~~Scheduled ~~0.00~~Balance ~~0.00~~for ~~Totals~~Premium 1Loans ~~0 1 0 2 360~~342,~~325.07 0.00 456~~134,~~980~~616.2052 ~~0.00~~Scheduled ~~817~~Principal 287,~~305~~722.2787 ~~0-29~~Unscheduled ~~Days~~Principal 015,727,883.~~000000%~~94 ~~0.000000%~~Required ~~0.000000%~~Overcollateralization ~~0.000000%~~Amount 0.~~000000%~~00 ~~0.000000%~~Overcollateralized ~~0.000000%~~Increase ~~0.000000%~~Amount ~~30 Days 3~~650.~~125000%~~00 ~~0.000000%~~Overcollateralized ~~0.000000%~~reduction ~~0.000000%~~Amount ~~3.125000%~~ 0.~~000000%~~00 ~~0.000000%~~Specified ~~0.000000%~~O/C ~~0.000000%~~Amount 02,243,498.~~000000%~~28 60Overcollateralized ~~Days~~Amount 02,243,498.~~000000%~~28 ~~0.000000%~~Overcollateralized ~~3.125000%~~Deficiency ~~0.000000%~~Amount ~~3.125000%~~ 0.~~000000%~~00 ~~0.000000%~~Base ~~0.000000%~~Overcollateralized ~~0.000000%~~Amount 0.~~000000%~~00 90Extra ~~Days~~principal ~~0.000000%~~distribution ~~0.000000%~~Amount 0650.~~000000%~~00 ~~0.000000%~~Excess ~~0.000000%~~Cash ~~0.000000%~~Amount 01,269,302.000000% 0.000000% 0.000000% 0.000000% 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 3.125000% 0.000000% 3.125000% 0.000000% 6.250000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%50

~~DELINQUENT~~Group ~~BANKRUPTCY~~Level ~~FORECLOSURE~~Collateral ~~REO~~Statement ~~Total~~Group Grp III, Sub Grp III NoGrp ofI, ~~Loans~~Sub NoGrp ofII ~~Loans~~Grp NoII, ofSub ~~Loans~~Grp NoI ofCollateral ~~Loans~~Description NoFixed of15/30 ~~Loans~~& ~~Principal~~ARM ~~Balance~~Fixed ~~Principal~~15/30 ~~Balance~~& ~~Principal~~ARM ~~Balance~~Fixed ~~Principal~~15/30 ~~Balance~~& ~~Principal~~ARM ~~Balance~~Weighted ~~0-29~~Average ~~Days~~Coupon 0Rate 07.982973 08.080039 ~~0 0~~7.00511590 0Weighted Average Net Rate 7.00482973 07.00580040 07.00011589 30Weighted ~~Days~~Average 3Maturity 0323 0347 0344 3Beginning ~~1,138,484.04~~Loan ~~0.00~~Count ~~0.00~~975 ~~0.00~~ 1,~~138,484.04~~674 6032 ~~Days~~Loans 0Paid 0In 0Full 026 067 ~~0.00~~2 ~~0.00~~Ending ~~0.00~~Loan ~~0.00~~Count ~~0.00~~949 ~~90 Days 0~~ 1,607 030 0Beginning 1Scheduled ~~0.00~~Balance ~~479~~102,~~859~~997,415.5405 0214,193,852.0068 ~~0.00 479~~12,~~859~~564,277.5449 ~~120~~Ending ~~Days~~scheduled 0Balance ~~1 0 0 1 0~~100,243,504.0070 ~~339~~204,~~134~~253,144.9337 ~~0.00 0.00 339~~11,~~134~~870,071.9379 ~~150~~Record ~~Days~~Date 010/31/2004 010/31/2004 010/31/2004 0Principal 0And ~~0.00~~Interest ~~0.00~~Constant 0780,697.0040 01,600,895.0074 089,465.0073 ~~180~~Scheduled ~~Days~~Principal 095,509.41 0158,650.09 110,817.65 0Unscheduled 1Principal 02,658,400.0094 09,782,058.0022 ~~366~~683,~~837~~388.3305 ~~0.00~~Scheduled ~~366~~Interest 685,~~837~~187.3399 ~~Totals 3 2~~ 1,442,245.65 078,648.08 6Servicing 1Fees 42,~~138,484~~915.0459 ~~818~~89,~~994~~247.4742 ~~366~~5,~~837~~235.3312 0Master Servicing Fees 1,287.0050 2,~~324,315~~677.8443 ~~0-29~~157.06 ~~Days~~Trustee ~~0.000000%~~Fee 0.~~000000%~~00 0.~~000000%~~00 0.~~000000%~~00 ~~0.000000%~~FRY Amount 0.~~000000%~~00 0.~~000000%~~00 0.~~000000%~~00 30Special ~~Days~~Hazard ~~4.000000%~~Fee 0.~~000000%~~00 0.~~000000%~~00 0.~~000000%~~00 ~~4.000000%~~Other ~~0.000000%~~Fee 070,550.~~000000%~~12 0114,446.~~000000%~~40 07,927.~~000000%~~28 ~~0.000000%~~Pool 60Insurance ~~Days~~Fee 0.~~000000%~~00 0.~~000000%~~00 0.~~000000%~~00 ~~0.000000%~~Spread ~~0.000000%~~Fee ~~0.000000%~~1 0.~~000000%~~00 0.~~000000%~~00 0.~~000000%~~00 ~~0.000000%~~Spread 90Fee ~~Days~~2 0.~~000000%~~00 ~~1.333333%~~ 0.~~000000%~~00 0.~~000000%~~00 ~~1.333333%~~Spread ~~0.000000%~~Fee ~~0.000000%~~3 0.~~000000%~~00 0.~~000000%~~00 0.~~000000%~~00 ~~120~~Net ~~Days~~Interest 0570,434.~~000000%~~78 1,235,874.~~333333%~~40 065,328.~~000000%~~62 ~~0.000000%~~Realized ~~1.333333%~~Loss ~~0.000000%~~Amount 0.~~000000%~~00 0650.~~000000%~~00 0.~~000000%~~00 ~~0.000000%~~Cumulative ~~150~~Realized ~~Days~~Loss 0.~~000000%~~00 077,548.~~000000%~~42 0.~~000000%~~00 ~~0.000000%~~Percentage ~~0.000000%~~of ~~0.000000%~~Cumulative ~~0.000000%~~Losses 0.~~000000%~~0000 0.~~000000%~~0281 0.~~000000%~~0000 ~~180~~Prepayment ~~Days~~Penalties 0.~~000000%~~00 0.~~000000%~~00 ~~1.333333%~~ 0.~~000000%~~00 ~~1.333333%~~Special ~~0.000000%~~Servicing ~~0.000000%~~Fee 0.~~000000%~~00 0.~~000000%~~00 0.~~000000%~~00 ~~Totals~~Pass-Through ~~4.000000%~~Rate 26.~~666667%~~646010 16.~~333333%~~923865 06.~~000000% 8.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%~~239464

~~OTHER~~Group ~~INFORMATION~~Level ~~Current~~Collateral ~~Period~~Statement ~~Class~~Group AGrp ~~Insufficient~~II, ~~Funds~~Sub Grp II Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.664291 7.999222 Weighted Average Net Rate 7.164291 7.499222 Weighted Average Maturity 347 340 Beginning Loan Count 72 2,753 Loans Paid In Full 6 101 Ending Loan Count 66 2,652 Beginning Scheduled Balance 28,394,678.11 358,150,223.33 Ending scheduled Balance 25,767,895.66 342,134,616.52 Record Date 10/31/2004 10/31/2004 Principal And Interest Constant 204,099.95 2,675,158.82 Scheduled Principal 22,745.72 287,722.87 Unscheduled Principal 2,604,036.73 15,727,883.94 Scheduled Interest 181,354.23 2,387,435.95 Servicing Fees 11,831.11 149,229.24 Master Servicing Fees 354.95 4,476.94 Trustee Fee 0.00 ~~Principal~~0.00 ~~Balance~~FRY ofAmount ~~Contaminated~~0.00 ~~Properties~~0.00 Special Hazard Fee 0.00 ~~Periodic~~0.00 ~~Advance~~Other ~~183~~Fee 12,~~421~~170.0846 205,094.26 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 156,997.71 2,028,635.51 Realized Loss Amount 0.00 650.00 Cumulative Realized Loss 0.00 77,548.42 Percentage of Cumulative Losses 0.0000 0.0173 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.634950 6.797044

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 0.000000% Weighted Average Net Coupon 7.494561% Weighted Average Pass-Through Rate 0.000000% Weighted Average Maturity(Stepdown Calculation ) 342 Beginning Scheduled Collateral Loan Count 2,950 Number Of Loans Paid In Full 80 Ending Scheduled Collateral Loan Count 2,870 Beginning Scheduled Collateral Balance 388,712,541.65 Ending Scheduled Collateral Balance 376,187,675.12 Ending Actual Collateral Balance at 31-Aug-2004 376,391,442.04 Monthly P &I Constant 2,896,515.60 Special Servicing Fee 0.00 Prepayment Penalties 169,939.87 Realized Loss Amount 23,772.87 Cumulative Realized Loss 34,215.14 Ending Scheduled Balance for Premium Loans 376,187,675.12 Scheduled Principal 306,860.60 Unscheduled Principal 12,218,005.93 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 23,772.87 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,243,498.28 Overcollateralized Amount 2,243,498.28 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 23,772.87 Excess Cash Amount 0.00

Group Level Collateral Statement Group Grp I, Sub Grp I Grp I, Sub Grp II Grp II, Sub Grp I Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.991795 8.066037 7.511167 Weighted Average Net Rate 7.491795 7.566037 7.011167 Weighted Average Maturity 325 349 346 Beginning Loan Count 1,026 1,812 32 Loans Paid In Full 22 53 0 Ending Loan Count 1,004 1,759 32 Beginning Scheduled Balance 109,502,077.64 235,218,543.76 12,587,306.23 Ending scheduled Balance 106,662,591.71 227,444,518.27 12,576,535.18 Record Date 08/31/2004 08/31/2004 08/31/2004 Principal And Interest Constant 828,688.96 1,753,062.95 89,465.73 Scheduled Principal 99,423.82 171,994.97 10,677.93 Unscheduled Principal 2,740,062.11 7,602,030.52 93.12 Scheduled Interest 729,265.14 1,581,067.98 78,787.80 Servicing Fees 45,625.88 98,007.72 5,244.71 Master Servicing Fees 1,368.78 2,940.24 157.35 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 74,847.05 126,327.82 7,942.59 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 607,423.43 1,353,792.20 65,443.15 Realized Loss Amount 0.00 23,772.87 0.00 Cumulative Realized Loss 0.00 34,215.14 0.00 Percentage of Cumulative Losses 0.0000 0.0124 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00

Group Level Collateral Statement Group Grp II, Sub Grp II Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.662597 0.000000 Weighted Average Net Rate 7.162597 7.494561 Weighted Average Maturity 349 342 Beginning Loan Count 80 2,950 Loans Paid In Full 5 80 Ending Loan Count 75 2,870 Beginning Scheduled Balance 31,404,614.02 388,712,541.65 Ending scheduled Balance 29,504,029.96 376,187,675.12 Record Date 08/31/2004 08/31/2004 Principal And Interest Constant 225,297.96 2,896,515.60 Scheduled Principal 24,763.88 306,860.60 Unscheduled Principal 1,875,820.18 12,218,005.93 Scheduled Interest 200,534.08 2,589,655.00 Servicing Fees 13,085.26 161,963.57 Master Servicing Fees 392.57 4,858.94 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 13,017.17 222,134.63 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 174,039.08 2,200,697.86 Realized Loss Amount 0.00 23,772.87 Cumulative Realized Loss 0.00 34,215.14 Percentage of Cumulative Losses 0.0000 0.0076 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00

Filing Compare · HOME EQUITY LOAN TRUST SERIES 2004-HS1