8-K 1 ffm04ff2_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 FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2004-FF2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-111379-07 54-2151947 Pooling and Servicing Agreement) (Commission 54-2151948 (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 FIRST FRANKLIN MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2004-FF2 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-FF2 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2004-FF2 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: 12/6/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-FF2 Trust, relating to the November 26, 2004 distribution. EX-99.1

First Franklin Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 710/31/2004 Distribution Date: 811/2526/2004 FFM Series: 2004-FF2 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 32027NHB0 SEN 12.~~67000~~15250% ~~295~~265,~~483~~844,~~390~~910.5513 ~~411~~508,~~214~~649.3993 814,~~765~~165,~~026~~839.0744 A-2 32027NHC8 SEN 12.~~54000~~02250% ~~107~~81,~~724~~946,~~579~~844.5667 ~~138~~147,~~246~~322.5422 78,~~112~~706,~~129~~255.4013 A-3 32027NHD6 SEN 12.~~65000~~13250% 184,000,000.00 ~~253~~348,~~000~~782.0022 0.00 A-4 32027NHE4 SEN 12.~~82000~~30250% 30,836,000.00 4663,~~767~~111.9301 0.00 A-5 32027NHF1 SEN 12.~~53000~~01250% 2116,~~544~~389,~~915~~368.9193 2729,~~469~~318.7776 1,~~422~~741,~~425~~251.8803 A-6 32027NHG9 SEN 12.~~67000~~15250% 4642,~~972~~877,~~989~~119.4114 6582,~~370~~038.7422 1,~~843~~183,~~379~~758.6209 M-1 32027NHH7 MEZ 12.~~90000~~38250% 26,374,000.00 4155,~~758~~854.8327 0.00 M-2 32027NHJ3 MEZ 12.~~95000~~43250% 24,176,000.00 3952,~~286~~273.0088 0.00 M-3 32027NHK0 MEZ 2.~~00000~~48250% 15,385,000.00 2533,~~641~~949.6757 0.00 M-4 32027NHL8 MEZ 2.~~35000~~83250% 10,989,000.00 2127,~~520~~667.1386 0.00 M-5 32027NHM6 MEZ 2.~~45000~~93250% 15,385,000.00 3140,~~411~~103.0457 0.00 M-6 32027NHN4 MEZ 23.~~70000~~18250% 9,670,000.00 2127,~~757~~355.5036 0.00 M-7 32027NHP9 MEZ 3.~~12500~~60750% 12,308,000.00 3239,~~052~~467.0865 0.00 M-8 32027NHQ7 MEZ 3.~~25000~~73250% 9,670,000.00 2632,~~189~~082.5891 0.00 M-9 32027NHR5 MEZ 4.~~35000~~83250% 8,791,000.00 3137,~~867~~762.3823 0.00 B 32027NHS3 SUB 45.~~95000~~43250% 10,549,000.00 4350,~~514~~939.6395 0.00 C FFM04FF2C SEN 0.00000% 6,153,851.87 32,~~144~~452,~~039~~279.8638 0.00 P FFM04FF2P SEN 0.00000% 100.00 ~~434~~522,~~164~~467.6069 0.00 R 32027NHT1 RES 0.00000% 0.00 0.00 0.00 Totals ~~836~~771,~~012~~345,~~827~~194.3074 4,~~835~~551,~~272~~426.6768 1925,~~142~~797,~~960~~103.9769

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~286~~251,~~718~~679,~~364~~070.4868 914,~~176~~674,~~240~~489.4637 0.00 A-2 0.00 ~~100~~73,~~612~~240,~~450~~589.1654 78,~~250~~853,~~375~~577.9435 0.00 A-3 0.00 184,000,000.00 ~~253~~348,~~000~~782.0022 0.00 A-4 0.00 30,836,000.00 4663,~~767~~111.9301 0.00 A-5 0.00 2014,~~122~~648,~~490~~117.0391 1,~~449~~770,~~895~~569.6579 0.00 A-6 0.00 4541,~~129~~693,~~609~~361.7905 1,~~908~~265,~~750~~796.3631 0.00 M-1 0.00 26,374,000.00 4155,~~758~~854.8327 0.00 M-2 0.00 24,176,000.00 3952,~~286~~273.0088 0.00 M-3 0.00 15,385,000.00 2533,~~641~~949.6757 0.00 M-4 0.00 10,989,000.00 2127,~~520~~667.1386 0.00 M-5 0.00 15,385,000.00 3140,~~411~~103.0457 0.00 M-6 0.00 9,670,000.00 2127,~~757~~355.5036 0.00 M-7 0.00 12,308,000.00 3239,~~052~~467.0865 0.00 M-8 0.00 9,670,000.00 2632,~~189~~082.5891 0.00 M-9 0.00 8,791,000.00 3137,~~867~~762.3823 0.00 B 0.00 10,549,000.00 4350,~~514~~939.6395 0.00 C 0.00 6,153,851.87 32,~~144~~452,~~039~~279.8638 0.00 P 0.00 100.00 ~~434~~522,~~164~~467.6069 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~816~~745,~~869~~548,~~866~~091.3305 2330,~~978~~348,~~233~~530.6437 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-1 314,835,000.00 ~~295~~265,~~483~~844,~~390~~910.5513 ~~141~~129,~~568~~600.7157 814,~~623~~036,~~457~~238.3687 0.00 0.00 A-2 125,000,000.00 ~~107~~81,~~724~~946,~~579~~844.5667 9988,~~305~~948.6203 78,~~012~~617,~~823~~307.7711 0.00 0.00 A-3 184,000,000.00 184,000,000.00 0.00 0.00 0.00 0.00 A-4 30,836,000.00 30,836,000.00 0.00 0.00 0.00 0.00 A-5 25,000,000.00 2116,~~544~~389,~~915~~368.9193 1917,~~861~~789.1260 1,~~402~~723,~~564~~461.7542 0.00 0.00 A-6 50,000,000.00 4642,~~972~~877,~~989~~119.4114 16,~~819~~834.8850 1,~~826~~166,~~559~~923.7459 0.00 0.00 M-1 26,374,000.00 26,374,000.00 0.00 0.00 0.00 0.00 M-2 24,176,000.00 24,176,000.00 0.00 0.00 0.00 0.00 M-3 15,385,000.00 15,385,000.00 0.00 0.00 0.00 0.00 M-4 10,989,000.00 10,989,000.00 0.00 0.00 0.00 0.00 M-5 15,385,000.00 15,385,000.00 0.00 0.00 0.00 0.00 M-6 9,670,000.00 9,670,000.00 0.00 0.00 0.00 0.00 M-7 12,308,000.00 12,308,000.00 0.00 0.00 0.00 0.00 M-8 9,670,000.00 9,670,000.00 0.00 0.00 0.00 0.00 M-9 8,791,000.00 8,791,000.00 0.00 0.00 0.00 0.00 B 10,549,000.00 10,549,000.00 0.00 0.00 0.00 0.00 C 6,153,595.34 6,153,851.87 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 879,121,695.34 ~~836~~771,~~012~~345,~~827~~194.3074 ~~277~~253,~~555~~172.3370 1825,~~865~~543,~~405~~930.6299 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-1 814,~~765~~165,~~026~~839.0744 ~~286~~251,~~718~~679,~~364~~070.4868 0.~~91069406~~79939991 814,~~765~~165,~~026~~839.0744 A-2 78,~~112~~706,~~129~~255.4013 ~~100~~73,~~612~~240,~~450~~589.1654 0.~~80489960~~58592472 78,~~112~~706,~~129~~255.4013 A-3 0.00 184,000,000.00 1.00000000 0.00 A-4 0.00 30,836,000.00 1.00000000 0.00 A-5 1,~~422~~741,~~425~~251.8803 2014,~~122~~648,~~490~~117.0391 0.~~80489960~~58592472 1,~~422~~741,~~425~~251.8803 A-6 1,~~843~~183,~~379~~758.6209 4541,~~129~~693,~~609~~361.7905 0.~~90259220~~83386722 1,~~843~~183,~~379~~758.6209 M-1 0.00 26,374,000.00 1.00000000 0.00 M-2 0.00 24,176,000.00 1.00000000 0.00 M-3 0.00 15,385,000.00 1.00000000 0.00 M-4 0.00 10,989,000.00 1.00000000 0.00 M-5 0.00 15,385,000.00 1.00000000 0.00 M-6 0.00 9,670,000.00 1.00000000 0.00 M-7 0.00 12,308,000.00 1.00000000 0.00 M-8 0.00 9,670,000.00 1.00000000 0.00 M-9 0.00 8,791,000.00 1.00000000 0.00 B 0.00 10,549,000.00 1.00000000 0.00 C 0.00 6,153,851.87 1.00004169 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 1925,~~142~~797,~~960~~103.9769 ~~816~~745,~~869~~548,~~866~~091.3305 0.~~92918861~~84806017 1925,~~142~~797,~~960~~103.9769

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 314,835,000.00 ~~938~~844.~~53412279~~39439748 0.~~44966001~~41164601 2744.~~39040246~~58284139 0.00000000 A-2 125,000,000.00 ~~861~~655.~~79663648~~57475736 0.~~79444496~~71158424 5668.~~10259016~~93845688 0.00000000 A-3 184,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 30,836,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-5 25,000,000.00 ~~861~~655.~~79663640~~57475720 0.~~79444480~~71158400 5668.~~10259000~~93845680 0.00000000 A-6 50,000,000.00 ~~939~~857.~~45978820~~54238280 0.~~33639760~~33669000 3623.~~53119480~~33847180 0.00000000 M-1 26,374,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 24,176,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 15,385,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 10,989,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 15,385,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 9,670,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 12,308,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 9,670,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 8,791,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 10,549,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 6,153,595.34 1000.04168782 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 Clases 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 2744.~~84006248~~99448740 ~~910~~799.~~69406032~~39991005 0.~~91069406~~79939991 2744.~~84006248~~99448740 A-2 0.00000000 5669.~~89703520~~65004104 ~~804~~585.~~89960128~~92471632 0.~~80489960~~58592472 5669.~~89703520~~65004104 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 A-5 0.00000000 5669.~~89703520~~65004120 ~~804~~585.~~89960120~~92471640 0.~~80489960~~58592472 5669.~~89703520~~65004120 A-6 0.00000000 3623.~~86759240~~67516180 ~~902~~833.~~59219580~~86722100 0.~~90259220~~83386722 3623.~~86759240~~67516180 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 M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 0.00000000 0.00000000 1,000.04168782 1.00004169 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-1 314,835,000.00 12.~~67000~~15250% ~~295~~265,~~483~~844,~~390~~910.5513 ~~411~~508,~~214~~649.3993 0.00 0.00 A-2 125,000,000.00 12.~~54000~~02250% ~~107~~81,~~724~~946,~~579~~844.5667 ~~138~~147,~~246~~322.5422 0.00 0.00 A-3 184,000,000.00 12.~~65000~~13250% 184,000,000.00 ~~253~~348,~~000~~782.0022 0.00 0.00 A-4 30,836,000.00 12.~~82000~~30250% 30,836,000.00 4663,~~767~~111.9301 0.00 0.00 A-5 25,000,000.00 12.~~53000~~01250% 2116,~~544~~389,~~915~~368.9193 2729,~~469~~318.7776 0.00 0.00 A-6 50,000,000.00 12.~~67000~~15250% 4642,~~972~~877,~~989~~119.4114 6582,~~370~~038.7422 0.00 0.00 M-1 26,374,000.00 12.~~90000~~38250% 26,374,000.00 4155,~~758~~854.8327 0.00 0.00 M-2 24,176,000.00 12.~~95000~~43250% 24,176,000.00 3952,~~286~~273.0088 0.00 0.00 M-3 15,385,000.00 2.~~00000~~48250% 15,385,000.00 2533,~~641~~949.6757 0.00 0.00 M-4 10,989,000.00 2.~~35000~~83250% 10,989,000.00 2127,~~520~~667.1386 0.00 0.00 M-5 15,385,000.00 2.~~45000~~93250% 15,385,000.00 3140,~~411~~103.0457 0.00 0.00 M-6 9,670,000.00 23.~~70000~~18250% 9,670,000.00 2127,~~757~~355.5036 0.00 0.00 M-7 12,308,000.00 3.~~12500~~60750% 12,308,000.00 3239,~~052~~467.0865 0.00 0.00 M-8 9,670,000.00 3.~~25000~~73250% 9,670,000.00 2632,~~189~~082.5891 0.00 0.00 M-9 8,791,000.00 4.~~35000~~83250% 8,791,000.00 3137,~~867~~762.3823 0.00 0.00 B 10,549,000.00 45.~~95000~~43250% 10,549,000.00 4350,~~514~~939.6395 0.00 0.00 C 6,153,595.34 0.00000% 6,153,851.87 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 879,121,695.34 1,~~257~~576,~~068~~679.2161 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~411~~508,~~214~~649.3993 0.00 ~~286~~251,~~718~~679,~~364~~070.4868 A-2 0.00 0.00 ~~138~~147,~~246~~322.5422 0.00 ~~100~~73,~~612~~240,~~450~~589.1654 A-3 0.00 0.00 ~~253~~348,~~000~~782.0022 0.00 184,000,000.00 A-4 0.00 0.00 4663,~~767~~111.9301 0.00 30,836,000.00 A-5 0.00 0.00 2729,~~469~~318.7776 0.00 2014,~~122~~648,~~490~~117.0391 A-6 0.00 0.00 6582,~~370~~038.7422 0.00 4541,~~129~~693,~~609~~361.7905 M-1 0.00 0.00 4155,~~758~~854.8327 0.00 26,374,000.00 M-2 0.00 0.00 3952,~~286~~273.0088 0.00 24,176,000.00 M-3 0.00 0.00 2533,~~641~~949.6757 0.00 15,385,000.00 M-4 0.00 0.00 2127,~~520~~667.1386 0.00 10,989,000.00 M-5 0.00 0.00 3140,~~411~~103.0457 0.00 15,385,000.00 M-6 0.00 0.00 2127,~~757~~355.5036 0.00 9,670,000.00 M-7 0.00 0.00 3239,~~052~~467.0865 0.00 12,308,000.00 M-8 0.00 0.00 2632,~~189~~082.5891 0.00 9,670,000.00 M-9 0.00 0.00 3137,~~867~~762.3823 0.00 8,791,000.00 B 0.00 0.00 4350,~~514~~939.6395 0.00 10,549,000.00 C 0.00 0.00 32,~~144~~452,~~039~~279.8638 0.00 6,153,851.87 P 0.00 0.00 ~~434~~522,~~164~~467.6069 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 4,~~835~~551,~~272~~426.6768 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-1 314,835,000.00 12.~~67000~~15250% ~~938~~844.~~53412279~~39439748 1.~~30612667~~61560795 0.00000000 0.00000000 A-2 125,000,000.00 12.~~54000~~02250% ~~861~~655.~~79663648~~57475736 1.~~10597232~~17857776 0.00000000 0.00000000 A-3 184,000,000.00 12.~~65000~~13250% 1000.00000000 1.~~37500000~~89555554 0.00000000 0.00000000 A-4 30,836,000.00 12.~~82000~~30250% 1000.00000000 12.~~51666656~~04666656 0.00000000 0.00000000 A-5 25,000,000.00 12.~~53000~~01250% ~~861~~655.~~79663640~~57475720 1.~~09879080~~17275040 0.00000000 0.00000000 A-6 50,000,000.00 12.~~67000~~15250% ~~939~~857.~~45978820~~54238280 1.~~30741480~~64076440 0.00000000 0.00000000 M-1 26,374,000.00 12.~~90000~~38250% 1000.00000000 12.~~58333321~~11777774 0.00000000 0.00000000 M-2 24,176,000.00 12.~~95000~~43250% 1000.00000000 12.~~62500000~~16222204 0.00000000 0.00000000 M-3 15,385,000.00 2.~~00000~~48250% 1000.00000000 12.~~66666688~~20666688 0.00000000 0.00000000 M-4 10,989,000.00 2.~~35000~~83250% 1000.00000000 12.~~95833379~~51777778 0.00000000 0.00000000 M-5 15,385,000.00 2.~~45000~~93250% 1000.00000000 2.~~04166656~~60666688 0.00000000 0.00000000 M-6 9,670,000.00 23.~~70000~~18250% 1000.00000000 2.~~25000000~~82888935 0.00000000 0.00000000 M-7 12,308,000.00 3.~~12500~~60750% 1000.00000000 23.~~60416640~~20666640 0.00000000 0.00000000 M-8 9,670,000.00 3.~~25000~~73250% 1000.00000000 23.~~70833299~~31777766 0.00000000 0.00000000 M-9 8,791,000.00 4.~~35000~~83250% 1000.00000000 34.~~62500057~~29555568 0.00000000 0.00000000 B 10,549,000.00 45.~~95000~~43250% 1000.00000000 4.~~12500047~~82888899 0.00000000 0.00000000 C 6,153,595.34 0.00000% 1000.04168782 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) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 1.~~30612667~~61560795 0.00000000 ~~910~~799.~~69406032~~39991005 A-2 0.00000000 0.00000000 1.~~10597232~~17857776 0.00000000 ~~804~~585.~~89960128~~92471632 A-3 0.00000000 0.00000000 1.~~37500000~~89555554 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 12.~~51666656~~04666656 0.00000000 1000.00000000 A-5 0.00000000 0.00000000 1.~~09879080~~17275040 0.00000000 ~~804~~585.~~89960120~~92471640 A-6 0.00000000 0.00000000 1.~~30741480~~64076440 0.00000000 ~~902~~833.~~59219580~~86722100 M-1 0.00000000 0.00000000 12.~~58333321~~11777774 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 12.~~62500000~~16222204 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 12.~~66666688~~20666688 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 12.~~95833379~~51777778 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 2.~~04166656~~60666688 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 2.~~25000000~~82888935 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 23.~~60416640~~20666640 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 23.~~70833299~~31777766 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 34.~~62500057~~29555568 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.~~12500047~~82888899 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~510~~398.~~92730124~~51164149 0.00000000 1000.04168782 P 0.00000000 0.00000000 ~~4341646~~5224676.~~00000000~~90000000 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 2330,~~896~~168,~~239~~973.4817 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(17,981.0026) Prepayment Penalties ~~434~~522,~~164~~467.6069 Total Deposits 2430,~~330~~673,~~404~~459.0860 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~352~~324,~~170~~929.4423 Payment of Interest and Principal 2330,~~978~~348,~~233~~530.6437 Total Withdrawals (Pool Distribution Amount) 2430,~~330~~673,~~404~~459.0860 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~348~~321,~~338~~393.7579 Trustee Fee 3,~~831~~535.6944 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~352~~324,~~170~~929.4423

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 01,000.00 0.00 0.00 01,000.00

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 4456 0 0 0 4456 68,~~874~~628,~~034~~485.4611 0.00 0.00 0.00 68,~~874~~628,~~034~~485.4611 60 Days 5325 0 0 0 5325 74,~~336~~458,~~257~~160.4637 0.00 0.00 0.00 74,~~336~~458,~~257~~160.4637 90 Days 414 0 0 0 414 ~~556~~1,~~019~~917,907.2453 0.00 0.00 0.00 ~~556~~1,~~019~~917,907.2453 120 Days 315 0 0 0 315 ~~876~~2,~~201~~501,721.8728 0.00 0.00 0.00 ~~876~~2,~~201~~501,721.8728 150 Days 029 0 0 0 029 03,957,653.0066 0.00 0.00 0.00 03,957,653.0066 180+ Days 05 0 0 0 05 01,163,953.0026 0.00 0.00 0.00 01,163,953.0026 Totals ~~104~~144 0 0 0 ~~104~~144 1522,~~642~~627,~~513~~881.0321 0.00 0.00 0.00 1522,~~642~~627,~~513~~881.0321 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~096710~~525054% 0.000000% 0.000000% 0.000000% 1.~~096710~~525054% 01.~~841509~~157334% 0.000000% 0.000000% 0.000000% 01.~~841509~~157334% 60 Days 10.~~321037~~680828% 0.000000% 0.000000% 0.000000% 10.~~321037~~680828% 0.~~898094~~597971% 0.000000% 0.000000% 0.000000% 0.~~898094~~597971% 90 Days 0.~~099701~~381264% 0.000000% 0.000000% 0.000000% 0.~~099701~~381264% 0.~~068067~~257248% 0.000000% 0.000000% 0.000000% 0.~~068067~~257248% 120 Days 0.~~074776~~408497% 0.000000% 0.000000% 0.000000% 0.~~074776~~408497% 0.~~107263~~335555% 0.000000% 0.000000% 0.000000% 0.~~107263~~335555% 150 Days 0.~~000000~~789760% 0.000000% 0.000000% 0.000000% 0.~~000000~~789760% 0.~~000000~~530838% 0.000000% 0.000000% 0.000000% 0.~~000000~~530838% 180+ Days 0.~~000000~~136166% 0.000000% 0.000000% 0.000000% 0.~~000000~~136166% 0.~~000000~~156120% 0.000000% 0.000000% 0.000000% 0.~~000000~~156120% Totals 23.~~592223~~921569% 0.000000% 0.000000% 0.000000% 23.~~592223~~921569% 13.~~914933~~035067% 0.000000% 0.000000% 0.000000% 13.~~914933~~035067%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0141,607.0053

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.~~822872~~803717% Weighted Average Net Coupon 6.~~322872~~303717% Weighted Average Pass-Through Rate 6.~~317372~~298217% Weighted Average Maturity(Stepdown Calculation ) ~~351~~348 Beginning Scheduled Collateral Loan Count 43,~~104~~799 Number Of Loans Paid In Full 92127 Ending Scheduled Collateral Loan Count 43,~~012~~672 Beginning Scheduled Collateral Balance ~~836~~771,~~012~~345,~~827~~194.3074 Ending Scheduled Collateral Balance ~~816~~745,~~869~~548,~~866~~091.3305 Ending Actual Collateral Balance at 31-~~Jul~~Oct-2004 ~~816~~745,~~869~~548,~~866~~091.3305 Monthly P &I Constant 54,~~030~~626,~~895~~518.8932 Special Servicing Fee 0.00 Prepayment Penalties ~~434~~522,~~164~~467.6069 Realized Loss Amount 017,981.0026 Cumulative Realized Loss 051,769.0032 Ending Scheduled Balance for Premium Loans ~~816~~745,~~869~~548,~~866~~091.3305 Scheduled Principal ~~277~~253,~~555~~172.3470 Unscheduled Principal 1825,~~865~~543,~~405~~930.6399

Miscellaneous Reporting ~~Overcollaterized~~Credit ~~Deficiency~~Enhancement ~~Amount~~Percentage 019.000000% ~~Overcollaterized~~Excess ~~Increase~~Cash Amount 02,470,260.0064 ~~Overcollaterized~~Extra ~~Reduction~~Principal ~~Amount~~Distribution 0.00 ~~Overcollaterized~~Overcollateralized Amount 6,153,851.87 ~~Specified~~Overcollateralized ~~Overcollaterized~~Target Amount 6,153,851.87 ~~Stepdown~~Overcollateralized ~~Date~~Deficiency Amount 17,981.26 Overcollateralized Release Amount 0.00 Overcollateralized Increase Amount 17,981.26 Overcollateralized Reduction Amount 0.00 Trigger Event Not in Trigger ~~Trigger~~Stepdown ~~Event~~Date Not in Stepdown Dividend Account Deposit N/A Dividend Account Withdrawal N/A Dividend Account Balance N/A Soldier/Sailor Adjustment 431.07 Cap Payment 0.00 Miscellaneous Bond Adjustment 1,045.16 Next Month A-1 Coupon Rate 2.4000% Next Month A-2 Coupon Rate 2.2700% Next Month A-3 Coupon Rate 2.3800% Next Month A-4 Coupon Rate 2.5500% Next Month A-5 Coupon Rate 2.2600% Next Month A-6 Coupon Rate 2.4000% Next Month M-1 Coupon Rate 2.6300% Next Month M-2 Coupon Rate 2.6800% Next Month M-3 Coupon Rate 2.7300% Next Month M-4 Coupon Rate 3.0800% Next Month M-5 Coupon Rate 3.1800% Next Month M-6 Coupon Rate 3.4300% Next Month M-7 Coupon Rate 3.8550% Next Month M-8 Coupon Rate 3.9800% Next Month M-9 Coupon Rate 5.0800% Next Month B Coupon Rate 5.6800%

Filing Compare · First Franklin Mortgage Loan Trust 2004-FF2