8-K 1 mab04he1_dec.txt DECEMBER 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 27, 2004 MASTR ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-HE1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106982-41 54-2161213 Pooling and Servicing Agreement) (Commission 54-2161214 (State or other File Number) 54-2161215 jurisdiction 54-2161216 of Incorporation) IRS EIN 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 December 27, 2004 a distribution was made to holders of MASTR ASSET BACKED SECURITIES TRUST, Mortgage Pass-Through Certificates, Series 2004-HE1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-HE1 Trust, relating to the December 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. MASTR ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-HE1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Master Servicer By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 12/29/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-HE1 Trust, relating to the December 27, 2004 distribution. EX-99.1

MASTR Asset Backed Securitizations Mortgage Pass-Through Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~MABS~~MASTR Asset Backed Securitizations Mortgage Pass-Through Certificates Series: 2004-HE1 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 57643LEE2 SEN 2.~~33250~~58000% ~~281~~271,~~069~~746,~~063~~598.8151 ~~582~~603,~~749~~730.8636 98,~~322~~835,~~465~~998.3116 A-2 57643LEF9 SEN 2.~~12250~~37000% ~~153~~144,~~451~~128,~~077~~644.0345 ~~289~~294,~~511~~142.0354 98,~~322~~835,~~432~~967.5813 A-3 57643LEG7 SEN 2.~~29250~~54000% 63,886,000.00 ~~130~~139,~~185~~732.4788 0.00 A-4 57643LEH5 SEN 2.~~50250~~75000% 63,731,000.00 ~~141~~150,~~766~~918.0755 0.00 M-1 57643LEJ1 MEZ 2.~~58250~~83000% 30,738,000.00 7074,~~560~~906.7980 0.00 M-2 57643LEK8 MEZ 2.~~66250~~91000% 9,355,000.00 2223,~~140~~442.1707 0.00 M-3 57643LEL6 MEZ 3.~~03250~~28000% 6,682,000.00 18,~~011~~872.7094 0.00 M-4 57643LEM4 MEZ 3.~~13250~~38000% 6,348,000.00 1718,~~675~~476.6521 0.00 M-5 57643LEN2 MEZ 3.~~28250~~53000% 6,014,000.00 1718,~~547~~280.5289 0.00 M-6 57643LEP7 MEZ 3.~~58250~~83000% 6,014,000.00 19,~~151~~834.2551 0.00 M-7 57643LEQ5 MEZ 34.~~78250~~03000% 5,679,000.00 19,~~094~~707.0671 0.00 M-8 57643LER3 MEZ 4.~~43250~~68000% 5,011,000.00 1920,~~743~~194.3433 0.00 M-9 57643LES1 MEZ 5.~~43250~~68000% 6,682,000.00 32,~~266~~682.6440 0.00 M-10 57643LET9 MEZ 5.~~43250~~68000% 5,345,000.00 2526,~~810~~142.4199 0.00 M-11 57643LEU6 MEZ 5.~~43250~~68000% 4,009,000.00 19,~~359~~608.0246 0.00 CE MAB4HE1CE SUB 0.00000% 6,682,320.51 1,~~672~~525,~~312~~530.0902 0.00 R MAB04HE1R RES 0.00000% 0.00 0.00 0.00 R-X MAB4HE1RX RES 0.00000% 0.00 0.00 0.00 P MAB04HE1P PPP 0.00000% 100.00 ~~354~~384,~~487~~605.2128 0.00 Totals ~~660~~642,~~696~~051,~~561~~663.3547 3,~~452~~390,~~372~~808.2894 1817,~~644~~671,~~897~~965.8929

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~271~~262,~~746~~910,~~598~~600.5135 9,~~905~~439,~~215~~728.1752 0.00 A-2 0.00 ~~144~~135,~~128~~292,~~644~~677.4532 9,~~611~~130,~~943~~109.6167 0.00 A-3 0.00 63,886,000.00 ~~130~~139,~~185~~732.4788 0.00 A-4 0.00 63,731,000.00 ~~141~~150,~~766~~918.0755 0.00 M-1 0.00 30,738,000.00 7074,~~560~~906.7980 0.00 M-2 0.00 9,355,000.00 2223,~~140~~442.1707 0.00 M-3 0.00 6,682,000.00 18,~~011~~872.7094 0.00 M-4 0.00 6,348,000.00 1718,~~675~~476.6521 0.00 M-5 0.00 6,014,000.00 1718,~~547~~280.5289 0.00 M-6 0.00 6,014,000.00 19,~~151~~834.2551 0.00 M-7 0.00 5,679,000.00 19,~~094~~707.0671 0.00 M-8 0.00 5,011,000.00 1920,~~743~~194.3433 0.00 M-9 0.00 6,682,000.00 32,~~266~~682.6440 0.00 M-10 0.00 5,345,000.00 2526,~~810~~142.4199 0.00 M-11 0.00 4,009,000.00 19,~~359~~608.0246 0.00 CE 0.00 6,682,320.51 1,~~672~~525,~~312~~530.0902 0.00 R 0.00 0.00 0.00 0.00 R-X 0.00 0.00 0.00 0.00 P 0.00 100.00 ~~354~~384,~~487~~605.2128 0.00 Totals 0.00 ~~642~~624,~~051~~379,~~663~~698.4718 2221,~~097~~062,~~270~~774.1723 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-1 284,834,000.00 ~~281~~271,~~069~~746,~~063~~598.8151 0.00 98,~~322~~835,~~465~~998.3116 0.00 0.00 A-2 157,216,000.00 ~~153~~144,~~451~~128,~~077~~644.0345 0.00 98,~~322~~835,~~432~~967.5813 0.00 0.00 A-3 63,886,000.00 63,886,000.00 0.00 0.00 0.00 0.00 A-4 63,731,000.00 63,731,000.00 0.00 0.00 0.00 0.00 M-1 30,738,000.00 30,738,000.00 0.00 0.00 0.00 0.00 M-2 9,355,000.00 9,355,000.00 0.00 0.00 0.00 0.00 M-3 6,682,000.00 6,682,000.00 0.00 0.00 0.00 0.00 M-4 6,348,000.00 6,348,000.00 0.00 0.00 0.00 0.00 M-5 6,014,000.00 6,014,000.00 0.00 0.00 0.00 0.00 M-6 6,014,000.00 6,014,000.00 0.00 0.00 0.00 0.00 M-7 5,679,000.00 5,679,000.00 0.00 0.00 0.00 0.00 M-8 5,011,000.00 5,011,000.00 0.00 0.00 0.00 0.00 M-9 6,682,000.00 6,682,000.00 0.00 0.00 0.00 0.00 M-10 5,345,000.00 5,345,000.00 0.00 0.00 0.00 0.00 M-11 4,009,000.00 4,009,000.00 0.00 0.00 0.00 0.00 CE 6,687,951.22 6,682,320.51 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 R-X 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 668,232,051.22 ~~660~~642,~~696~~051,~~561~~663.3547 0.00 1817,~~644~~671,~~897~~965.8929 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 98,~~322~~835,~~465~~998.3116 ~~271~~262,~~746~~910,~~598~~600.5135 0.~~95405253~~92303096 98,~~322~~835,~~465~~998.3116 A-2 98,~~322~~835,~~432~~967.5813 ~~144~~135,~~128~~292,~~644~~677.4532 0.~~91675557~~86055285 98,~~322~~835,~~432~~967.5813 A-3 0.00 63,886,000.00 1.00000000 0.00 A-4 0.00 63,731,000.00 1.00000000 0.00 M-1 0.00 30,738,000.00 1.00000000 0.00 M-2 0.00 9,355,000.00 1.00000000 0.00 M-3 0.00 6,682,000.00 1.00000000 0.00 M-4 0.00 6,348,000.00 1.00000000 0.00 M-5 0.00 6,014,000.00 1.00000000 0.00 M-6 0.00 6,014,000.00 1.00000000 0.00 M-7 0.00 5,679,000.00 1.00000000 0.00 M-8 0.00 5,011,000.00 1.00000000 0.00 M-9 0.00 6,682,000.00 1.00000000 0.00 M-10 0.00 5,345,000.00 1.00000000 0.00 M-11 0.00 4,009,000.00 1.00000000 0.00 CE 0.00 6,682,320.51 0.99915808 0.00 R 0.00 0.00 0.00000000 0.00 R-X 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 1817,~~644~~671,~~897~~965.8929 ~~642~~624,~~051~~379,~~663~~698.4718 0.~~96082141~~93437556 1817,~~644~~671,~~897~~965.8929

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 284,834,000.00 ~~986~~954.~~78199867~~05253063 0.00000000 3231.~~72946808~~02157102 0.00000000 A-2 157,216,000.00 ~~976~~916.~~05254573~~75557481 0.00000000 5956.~~29697092~~20272192 0.00000000 A-3 63,886,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 63,731,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 30,738,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 9,355,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 6,682,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 6,348,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 6,014,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 6,014,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 5,679,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 5,011,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 6,682,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-10 5,345,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-11 4,009,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 6,687,951.22 999.15808148 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 (2) All classes 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 3231.~~72946808~~02157102 ~~954~~923.~~05253063~~03095961 0.~~95405253~~92303096 3231.~~72946808~~02157102 A-2 0.00000000 5956.~~29697092~~20272192 ~~916~~860.~~75557481~~55285289 0.~~91675557~~86055285 5956.~~29697092~~20272192 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 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 M-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 999.15808148 0.99915808 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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-1 284,834,000.00 2.~~33250~~58000% ~~281~~271,~~069~~746,~~063~~598.8151 ~~582~~603,~~749~~730.8636 0.00 0.00 A-2 157,216,000.00 2.~~12250~~37000% ~~153~~144,~~451~~128,~~077~~644.0345 ~~289~~294,~~511~~142.0354 0.00 0.00 A-3 63,886,000.00 2.~~29250~~54000% 63,886,000.00 ~~130~~139,~~185~~732.4788 0.00 0.00 A-4 63,731,000.00 2.~~50250~~75000% 63,731,000.00 ~~141~~150,~~766~~918.0755 0.00 0.00 M-1 30,738,000.00 2.~~58250~~83000% 30,738,000.00 7074,~~560~~906.7980 0.00 0.00 M-2 9,355,000.00 2.~~66250~~91000% 9,355,000.00 2223,~~140~~442.1707 0.00 0.00 M-3 6,682,000.00 3.~~03250~~28000% 6,682,000.00 18,~~011~~872.7094 0.00 0.00 M-4 6,348,000.00 3.~~13250~~38000% 6,348,000.00 1718,~~675~~476.6521 0.00 0.00 M-5 6,014,000.00 3.~~28250~~53000% 6,014,000.00 1718,~~547~~280.5289 0.00 0.00 M-6 6,014,000.00 3.~~58250~~83000% 6,014,000.00 19,~~151~~834.2551 0.00 0.00 M-7 5,679,000.00 34.~~78250~~03000% 5,679,000.00 19,~~094~~707.0671 0.00 0.00 M-8 5,011,000.00 4.~~43250~~68000% 5,011,000.00 1920,~~743~~194.3433 0.00 0.00 M-9 6,682,000.00 5.~~43250~~68000% 6,682,000.00 32,~~266~~682.6440 0.00 0.00 M-10 5,345,000.00 5.~~43250~~68000% 5,345,000.00 2526,~~810~~142.4199 0.00 0.00 M-11 4,009,000.00 5.~~43250~~68000% 4,009,000.00 19,~~359~~608.0246 0.00 0.00 CE 6,687,951.22 0.00000% 6,682,320.51 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 R-X 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 668,232,051.22 1,~~425~~480,~~572~~673.9864 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 ~~582~~603,~~749~~730.8636 0.00 ~~271~~262,~~746~~910,~~598~~600.5135 A-2 0.00 0.00 ~~289~~294,~~511~~142.0354 0.00 ~~144~~135,~~128~~292,~~644~~677.4532 A-3 0.00 0.00 ~~130~~139,~~185~~732.4788 0.00 63,886,000.00 A-4 0.00 0.00 ~~141~~150,~~766~~918.0755 0.00 63,731,000.00 M-1 0.00 0.00 7074,~~560~~906.7980 0.00 30,738,000.00 M-2 0.00 0.00 2223,~~140~~442.1707 0.00 9,355,000.00 M-3 0.00 0.00 18,~~011~~872.7094 0.00 6,682,000.00 M-4 0.00 0.00 1718,~~675~~476.6521 0.00 6,348,000.00 M-5 0.00 0.00 1718,~~547~~280.5289 0.00 6,014,000.00 M-6 0.00 0.00 19,~~151~~834.2551 0.00 6,014,000.00 M-7 0.00 0.00 19,~~094~~707.0671 0.00 5,679,000.00 M-8 0.00 0.00 1920,~~743~~194.3433 0.00 5,011,000.00 M-9 0.00 0.00 32,~~266~~682.6440 0.00 6,682,000.00 M-10 0.00 0.00 2526,~~810~~142.4199 0.00 5,345,000.00 M-11 0.00 0.00 19,~~359~~608.0246 0.00 4,009,000.00 CE 0.00 0.00 1,~~672~~525,~~312~~530.0902 0.00 6,682,320.51 R 0.00 0.00 0.00 0.00 0.00 R-X 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 ~~354~~384,~~487~~605.2128 0.00 100.00 Totals 0.00 0.00 3,~~452~~390,~~372~~808.2894 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-1 284,834,000.00 2.~~33250~~58000% ~~986~~954.~~78199867~~05253063 2.~~04592801~~11958671 0.00000000 0.00000000 A-2 157,216,000.00 2.~~12250~~37000% ~~976~~916.~~05254573~~75557481 1.~~84148579~~87094532 0.00000000 0.00000000 A-3 63,886,000.00 2.~~29250~~54000% 1000.00000000 2.~~03777776~~18722224 0.00000000 0.00000000 A-4 63,731,000.00 2.~~50250~~75000% 1000.00000000 2.~~22444446~~36805558 0.00000000 0.00000000 M-1 30,738,000.00 2.~~58250~~83000% 1000.00000000 2.~~29555566~~43694450 0.00000000 0.00000000 M-2 9,355,000.00 2.~~66250~~91000% 1000.00000000 2.~~36666702~~50583324 0.00000000 0.00000000 M-3 6,682,000.00 3.~~03250~~28000% 1000.00000000 2.~~69555522~~82444478 0.00000000 0.00000000 M-4 6,348,000.00 3.~~13250~~38000% 1000.00000000 2.~~78444392~~91055608 0.00000000 0.00000000 M-5 6,014,000.00 3.~~28250~~53000% 1000.00000000 23.~~91777852~~03972231 0.00000000 0.00000000 M-6 6,014,000.00 3.~~58250~~83000% 1000.00000000 3.~~18444463~~29805620 0.00000000 0.00000000 M-7 5,679,000.00 34.~~78250~~03000% 1000.00000000 3.~~36222222~~47027822 0.00000000 0.00000000 M-8 5,011,000.00 4.~~43250~~68000% 1000.00000000 34.~~94000000~~03000000 0.00000000 0.00000000 M-9 6,682,000.00 5.~~43250~~68000% 1000.00000000 4.~~82888955~~89111045 0.00000000 0.00000000 M-10 5,345,000.00 5.~~43250~~68000% 1000.00000000 4.~~82888868~~89111132 0.00000000 0.00000000 M-11 4,009,000.00 5.~~43250~~68000% 1000.00000000 4.~~82889000~~89111000 0.00000000 0.00000000 CE 6,687,951.22 0.00000% 999.15808148 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) All classes per $1,000 denomination

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 2.~~04592801~~11958671 0.00000000 ~~954~~923.~~05253063~~03095961 A-2 0.00000000 0.00000000 1.~~84148579~~87094532 0.00000000 ~~916~~860.~~75557481~~55285289 A-3 0.00000000 0.00000000 2.~~03777776~~18722224 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 2.~~22444446~~36805558 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 2.~~29555566~~43694450 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~36666702~~50583324 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~69555522~~82444478 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 2.~~78444392~~91055608 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 23.~~91777852~~03972231 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.~~18444463~~29805620 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 3.~~36222222~~47027822 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 34.~~94000000~~03000000 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 4.~~82888955~~89111045 0.00000000 1000.00000000 M-10 0.00000000 0.00000000 4.~~82888868~~89111132 0.00000000 1000.00000000 M-11 0.00000000 0.00000000 4.~~82889000~~89111000 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~250~~228.~~04848794~~10124802 0.00000000 999.15808148 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~3544872~~3846052.~~10000000~~80000000 0.00000000 1000.00000000 (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 2221,~~904~~332,~~480~~807.6427 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 56108,~~805~~639.3996 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~354~~384,~~487~~605.2128 Total Deposits 2321,~~315~~826,~~773~~052.2451 Withdrawals Reimbursement for Servicer Advances ~~491~~56,~~911~~805.5939 Payment of Service Fee ~~726~~706,~~591~~472.4989 Payment of Interest and Principal 2221,~~097~~062,~~270~~774.1623 Total Withdrawals (Pool Distribution Amount) 2321,~~315~~826,~~773~~052.2451 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~275~~267,~~290~~521.2353 Credit Risk Manager Fee - Murray Hill Co. 8,~~258~~025.7065 PMI Policy Fee ~~429~~418,~~830~~086.4853 Trust Administration Fee 1312,~~212~~839.0818 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~726~~706,~~591~~472.4989

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 0.00 23,~~246~~350.2036 23,~~246~~350.2036 0.00

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 012 0 0 012 01,490,371.0091 0.00 0.00 01,490,371.0091 30 Days 3451 01 0 0 3452 48,~~987~~862,~~144~~051.4563 074,588.0024 0.00 0.00 48,~~987~~936,~~144~~639.4587 60 Days 815 0 01 0 816 12,~~244~~471,~~741~~876.7900 0.00 0143,654.0060 0.00 12,~~244~~615,~~741~~530.7960 90 Days 132 02 017 0 1321 2516,~~129,936~~701.6403 0152,208.0010 02,594,331.0012 0.00 23,~~129~~263,~~936~~240.6425 120 Days 10 0 0 0 10 ~~64,932~~0.7800 0.00 0.00 0.00 ~~64,932~~0.7800 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 5668 015 018 0 56101 811,~~426~~850,~~755~~628.66 01,717,168.0025 02,737,985.0072 0.00 816,~~426~~305,~~755~~782.6663 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~~340040% 0.000000% 0.000000% 0.~~000000~~340040% 0.~~000000~~238493% 0.000000% 0.000000% 0.~~000000~~238493% 30 Days 01.~~939746~~445169% 0.~~000000~~028337% 0.000000% 0.000000% 01.~~939746~~473505% 01.~~776142~~418130% 0.~~000000~~011936% 0.000000% 0.000000% 01.~~776142~~430065% 60 Days 0.~~221117~~425050% 0.000000% 0.~~000000~~028337% 0.000000% 0.~~221117~~453386% 0.~~193717~~395556% 0.000000% 0.~~000000~~022988% 0.000000% 0.~~193717~~418544% 90 Days 0.~~359315~~056673% 0.~~000000~~056673% 0.~~000000~~481723% 0.000000% 0.~~359315~~595069% 0.~~331479~~082684% 0.~~000000~~024357% 0.~~000000~~415152% 0.000000% 0.~~331479~~522193% 120 Days 0.~~027640~~000000% 0.000000% 0.000000% 0.000000% 0.~~027640~~000000% 0.~~010105~~000000% 0.000000% 0.000000% 0.000000% 0.~~010105~~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.~~547816~~926891% 0.~~000000~~425050% 0.~~000000~~510060% 0.000000% 12.~~547816~~862001% 1.~~311444~~896370% 0.~~000000~~274786% 0.~~000000~~438140% 0.000000% 12.~~311444~~609296%

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 03 0 0 03 0222,164.0013 0.00 0.00 0222,164.0013 30 Days 813 01 0 0 814 ~~827~~1,~~287~~736,533.8567 074,588.0024 0.00 0.00 ~~827~~1,~~287~~811,121.8591 60 Days 15 0 0 0 15 ~~244~~690,~~708~~235.4941 0.00 0.00 0.00 ~~244~~690,~~708~~235.4941 90 Days 0 0 02 0 02 0.00 0.00 0309,641.0027 0.00 0309,641.0027 120 Days 10 0 0 0 10 ~~64,932~~0.7800 0.00 0.00 0.00 ~~64,932~~0.7800 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 1018 04 02 0 1024 12,~~136~~426,~~929~~769.1208 0296,752.0037 0309,641.0027 0.00 13,~~136~~033,~~929~~162.1272 0-29 Days 0.~~000000~~215983% 0.000000% 0.000000% 0.~~000000~~215983% 0.~~000000~~107434% 0.000000% 0.000000% 0.~~000000~~107434% 30 Days 0.~~566974~~935925% 0.~~000000~~071994% 0.000000% 0.000000% 01.~~566974~~007919% 0.~~392336~~839750% 0.~~000000~~036069% 0.000000% 0.000000% 0.~~392336~~875819% 60 Days 0.~~070872~~359971% 0.000000% 0.000000% 0.000000% 0.~~070872~~359971% 0.~~116052~~333783% 0.000000% 0.000000% 0.000000% 0.~~116052~~333783% 90 Days 0.000000% 0.000000% 0.~~000000~~143988% 0.000000% 0.~~000000~~143988% 0.000000% 0.000000% 0.~~000000~~149736% 0.000000% 0.~~000000~~149736% 120 Days 0.~~070872~~000000% 0.000000% 0.000000% 0.000000% 0.~~070872~~000000% 0.~~030794~~000000% 0.000000% 0.000000% 0.000000% 0.~~030794~~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 01.~~708717~~295896% 0.~~000000~~287977% 0.~~000000~~143988% 0.000000% 01.~~708717~~727862% 01.~~539182~~173533% 0.~~000000~~143503% 0.~~000000~~149736% 0.000000% 01.~~539182~~466772% 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 09 0 0 09 01,268,207.0078 0.00 0.00 01,268,207.0078 30 Days 2638 0 0 0 2638 47,~~159~~125,~~856~~517.6096 0.00 0.00 0.00 47,~~159~~125,~~856~~517.6096 60 Days 710 0 01 0 711 1,~~000~~781,~~033~~640.3059 0.00 0143,654.0060 0.00 1,~~000~~925,~~033~~295.3019 90 Days 132 02 015 0 1319 2516,~~129,936~~701.6403 0152,208.0010 02,284,689.0085 0.00 2,~~129~~953,~~936~~598.6498 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 4650 011 016 0 4677 79,~~289~~423,~~826~~859.5458 01,420,415.0088 02,428,344.0045 0.00 713,~~289~~272,~~826~~619.5491 0-29 Days 0.~~000000~~420561% 0.000000% 0.000000% 0.~~000000~~420561% 0.~~000000~~303312% 0.000000% 0.000000% 0.~~000000~~303312% 30 Days 1.~~178070~~775701% 0.000000% 0.000000% 0.000000% 1.~~178070~~775701% 01.~~963614~~704182% 0.000000% 0.000000% 0.000000% 01.~~963614~~704182% 60 Days 0.~~317173~~467290% 0.000000% 0.~~000000~~046729% 0.000000% 0.~~317173~~514019% 0.~~231654~~426108% 0.000000% 0.~~000000~~034357% 0.000000% 0.~~231654~~460465% 90 Days 0.~~589035~~093458% 0.~~000000~~093458% 0.~~000000~~700935% 0.000000% 0.~~589035~~887850% 0.~~493391~~123577% 0.~~000000~~036403% 0.~~000000~~546420% 0.000000% 0.~~493391~~706401% 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 2.~~084277~~336449% 0.~~000000~~514019% 0.~~000000~~747664% 0.000000% 23.~~084277~~598131% 12.~~688658~~253867% 0.~~000000~~339715% 0.~~000000~~580778% 0.000000% 13.~~688658~~174360%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 56108,~~805~~639.3996 Class R 98,565,051.22 14.75012326% 98,559,420.51 15.~~35069935~~78517380% 0.000000% 0.000000% Class M-1 67,827,051.22 10.15022418% 67,821,420.51 10.~~56323414~~86220784% 4.~~787465~~922966% 0.000000% Class M-2 58,472,051.22 8.75026140% 58,466,420.51 9.~~10618628~~36392081% 1.~~457048~~498287% 0.000000% Class M-3 51,790,051.22 7.75030936% 51,784,420.51 8.~~06546006~~29373868% 1.~~040726~~070182% 0.000000% Class M-4 45,442,051.22 6.80033996% 45,436,420.51 7.~~07675458~~27704963% 01.~~988705~~016689% 0.000000% Class CE 100.00 0.00001496% 100.00 0.~~00001558~~00001602% 1.~~040776~~070233% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000016% 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.~~946768~~939489% Weighted Average Net Coupon 6.~~446768~~439489% Weighted Average Pass-Through Rate 5.~~627085~~619085% Weighted Average Maturity(Stepdown Calculation ) ~~346~~345 Beginning Scheduled Collateral Loan Count 3,~~706~~618 Number Of Loans Paid In Full 8889 Ending Scheduled Collateral Loan Count 3,~~618~~529 Beginning Scheduled Collateral Balance ~~660~~642,~~696~~051,~~561~~663.3647 Ending Scheduled Collateral Balance ~~642~~624,~~051~~379,~~663~~698.4718 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~642~~624,~~555~~911,~~357~~305.3639 Monthly P &I Constant 4,~~375~~253,~~819~~376.6362 Special Servicing Fee 0.00 Prepayment Penalties ~~354~~384,~~487~~605.2128 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~551~~540,~~064~~451.9027 Unscheduled Principal 1817,~~093~~131,~~832~~514.9902

Miscellaneous Reporting Credit Enhancement 0.~~153507~~157852% Excess Cash 1,~~672~~525,~~312~~530.0902 Extra Principal Distribution Amount 0.00 Overcollaterization Amount 6,682,320.51 Overcollaterization Deficiency Amount 0.00 Overcollaterization Release Amount 0.00 Overcollaterization Target Amount 6,682,320.51

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.~~960626~~955375 6.~~940075~~931730 6.~~946768~~939489 Weighted Average Net Rate 6.~~460626~~455375 6.~~440075~~431730 6.~~446768~~439489 Weighted Average Maturity ~~331~~330 ~~354~~353 ~~346~~345 Beginning Loan Count 1,~~436~~411 2,~~270~~207 3,~~706~~618 Loans Paid In Full 2522 6367 8889 Ending Loan Count 1,~~411~~389 2,~~207~~140 3,~~618~~529 Beginning Scheduled Balance ~~215~~210,~~177~~672,~~907~~829.5237 ~~445~~431,~~518~~378,~~653~~834.8410 ~~660~~642,~~696~~051,~~561~~663.3647 Ending scheduled Balance ~~210~~206,~~672~~591,~~829~~221.3738 ~~431~~417,~~378~~788,~~834~~476.1080 ~~642~~624,~~051~~379,~~663~~698.4718 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 1,~~480~~449,~~037~~409.7344 2,~~895~~803,~~781~~967.9018 4,~~375~~253,~~819~~376.6362 Scheduled Principal ~~231~~228,~~893~~318.5793 ~~319~~312,~~171~~132.3334 ~~551~~540,~~064~~451.9027 Unscheduled Principal 43,~~273~~853,~~184~~289.5806 13,~~820~~278,~~648~~224.4196 1817,~~093~~131,~~832~~514.9902 Scheduled Interest 1,~~248~~221,~~144~~090.1651 2,~~576~~491,~~610~~834.5784 3,~~824~~712,~~754~~925.7335 Servicing Fees 8987,~~657~~780.4635 ~~185~~179,~~632~~741.7718 ~~275~~267,~~290~~521.2353 Master Servicing Fees 0.00 0.00 0.00 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 ~~160~~156,~~373~~501.4743 ~~290~~282,~~927~~449.7993 ~~451~~438,~~301~~951.2636 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 1,~~158~~133,~~486~~310.8526 2,~~390~~312,~~977~~093.7542 3,~~549~~445,~~464~~403.6068 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.~~566259~~563938 5.~~656463~~646018 5.~~627085~~619085

Filing Compare · MASTR Asset Backed Securities Trust 2004-HE1