8-K 1 ffm04ff5_dec.txt DEC. 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 FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2004-FF5 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-111379-18 Pooling and Servicing Agreement) (Commission 54-2157823 (State or other File Number) 54-2157824 jurisdiction 54-2157825 of Incorporation) 54-2157826 54-2157827 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 FIRST FRANKLIN MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2004-FF5 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-FF5 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2004-FF5 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: 12/31/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-FF5 Trust, relating to the December 27, 2004 distribution. EX-99.1

First Franklin Mortgage Loan Trust ~~Mortgage~~Asset ~~Pass-Through~~Backed Certificates Record Date: 1011/3130/~~2004~~04 Distribution Date: 1112/2627/~~2004~~04 ~~FFM~~First Franklin Mortgage Loan Trust Asset Backed Certificates Series: 2004-FF5 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 32027NJT9 SEN 2.~~29250~~54000% ~~610~~602,~~540~~810,~~279~~838.6307 1,~~244~~318,~~145~~481.4126 710,~~729~~653,~~441~~696.5612 A-2 32027NJU6 SEN 2.~~31250~~56000% 4847,~~377~~928,~~439~~945.0913 99105,~~442~~656.5170 ~~448~~1,~~493~~051,139.9537 A-3A 32027NKS9 SEN 2.~~14250~~39000% 7775,~~942~~439,~~864~~371.9874 ~~148~~155,~~437~~258.8642 25,~~503~~867,~~493~~459.2494 A-3B 32027NKT7 SEN 2.~~29250~~54000% 160,300,000.00 ~~326~~350,~~655~~611.7872 0.00 A-3C 32027NKU4 SEN 2.~~43250~~68000% 31,800,000.00 6873,~~758~~387.6733 0.00 M-1 32027NJV4 MEZ 2.~~53250~~78000% 44,000,000.00 99105,~~048~~331.8911 0.00 M-2 32027NJW2 MEZ 2.~~63250~~88000% 24,750,000.00 5761,~~915~~380.00 0.00 M-3 32027NJX0 MEZ 2.~~73250~~98000% 11,000,000.00 2628,~~717~~227.7822 0.00 M-4 32027NJY8 MEZ 3.~~23250~~48000% 11,000,000.00 3132,~~606~~963.6733 0.00 M-5 32027NJZ5 MEZ 3.~~33250~~58000% 11,000,000.00 3233,~~584~~910.4456 0.00 M-6 32027NKA8 MEZ 3.~~53250~~78000% 7,150,000.00 2223,~~451~~273.0025 0.00 M-7 32027NKB6 MEZ 4.~~43250~~68000% 7,700,000.00 3031,~~338~~031.00 0.00 M-8 32027NKC4 MEZ 45.~~93250~~18000% 7,150,000.00 31,~~348~~892.7897 0.00 M-9 32027NKD2 MEZ 45.~~93250~~18000% 5,500,000.00 24,~~114~~533.4406 0.00 B 32027NKE0 SUB 45.~~93250~~18000% 5,500,000.00 24,~~114~~533.4406 0.00 C FFM04FF5C SEN 0.00000% 10,450,000.00 32,~~033~~844,~~171~~437.8710 0.00 P FFM04FF5P SEN 0.00000% 100.00 ~~205~~294,~~149~~558.1817 0.00 R SEN 0.00000% 0.00 0.00 0.00 Totals 1,~~074~~063,~~160~~479,~~683~~254.7094 5,~~506~~539,~~000~~466.7226 1017,~~681~~572,~~428~~295.7543

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~602~~592,~~810~~157,~~838~~141.0795 811,~~973~~972,~~586~~177.9738 0.00 A-2 0.00 4746,~~928~~877,~~945~~805.1377 ~~547~~1,~~936~~156,796.4607 0.00 A-3A 0.00 7569,~~439~~571,~~371~~911.7480 26,~~651~~022,~~931~~718.1036 0.00 A-3B 0.00 160,300,000.00 ~~326~~350,~~655~~611.7872 0.00 A-3C 0.00 31,800,000.00 6873,~~758~~387.6733 0.00 M-1 0.00 44,000,000.00 99105,~~048~~331.8911 0.00 M-2 0.00 24,750,000.00 5761,~~915~~380.00 0.00 M-3 0.00 11,000,000.00 2628,~~717~~227.7822 0.00 M-4 0.00 11,000,000.00 3132,~~606~~963.6733 0.00 M-5 0.00 11,000,000.00 3233,~~584~~910.4456 0.00 M-6 0.00 7,150,000.00 2223,~~451~~273.0025 0.00 M-7 0.00 7,700,000.00 3031,~~338~~031.00 0.00 M-8 0.00 7,150,000.00 31,~~348~~892.7897 0.00 M-9 0.00 5,500,000.00 24,~~114~~533.4406 0.00 B 0.00 5,500,000.00 24,~~114~~533.4406 0.00 C 0.00 10,450,000.00 32,~~033~~844,~~171~~437.8710 0.00 P 0.00 100.00 ~~205~~294,~~149~~558.1817 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 1,~~063~~045,~~479~~906,~~254~~959.9452 1623,~~187~~111,~~429~~761.4769 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-1 625,700,000.00 ~~610~~602,~~540~~810,~~279~~838.6307 ~~323~~320,~~998~~529.5638 710,~~405~~333,~~443~~166.0074 0.00 0.00 A-2 50,000,000.00 4847,~~377~~928,~~439~~945.0913 16,~~520~~016.2814 ~~431~~1,~~973~~035,123.6722 0.00 0.00 A-3A 87,000,000.00 7775,~~942~~439,~~864~~371.9874 9289,~~216~~402.2311 25,~~411~~778,~~277~~057.0184 0.00 0.00 A-3B 160,300,000.00 160,300,000.00 0.00 0.00 0.00 0.00 A-3C 31,800,000.00 31,800,000.00 0.00 0.00 0.00 0.00 M-1 44,000,000.00 44,000,000.00 0.00 0.00 0.00 0.00 M-2 24,750,000.00 24,750,000.00 0.00 0.00 0.00 0.00 M-3 11,000,000.00 11,000,000.00 0.00 0.00 0.00 0.00 M-4 11,000,000.00 11,000,000.00 0.00 0.00 0.00 0.00 M-5 11,000,000.00 11,000,000.00 0.00 0.00 0.00 0.00 M-6 7,150,000.00 7,150,000.00 0.00 0.00 0.00 0.00 M-7 7,700,000.00 7,700,000.00 0.00 0.00 0.00 0.00 M-8 7,150,000.00 7,150,000.00 0.00 0.00 0.00 0.00 M-9 5,500,000.00 5,500,000.00 0.00 0.00 0.00 0.00 B 5,500,000.00 5,500,000.00 0.00 0.00 0.00 0.00 C 10,449,900.00 10,450,000.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,100,000,000.00 1,~~074~~063,~~160~~479,~~683~~254.7094 ~~432~~425,~~735~~947.0763 1017,~~248~~146,~~693~~347.6880 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-1 710,~~729~~653,~~441~~696.5612 ~~602~~592,~~810~~157,~~838~~141.0795 0.~~96341831~~94639147 710,~~729~~653,~~441~~696.5612 A-2 ~~448~~1,~~493~~051,139.9537 4746,~~928~~877,~~945~~805.1377 0.~~95857890~~93755612 ~~448~~1,~~493~~051,139.9537 A-3A 25,~~503~~867,~~493~~459.2494 7569,~~439~~571,~~371~~911.7480 0.~~86711922~~79967715 25,~~503~~867,~~493~~459.2494 A-3B 0.00 160,300,000.00 1.00000000 0.00 A-3C 0.00 31,800,000.00 1.00000000 0.00 M-1 0.00 44,000,000.00 1.00000000 0.00 M-2 0.00 24,750,000.00 1.00000000 0.00 M-3 0.00 11,000,000.00 1.00000000 0.00 M-4 0.00 11,000,000.00 1.00000000 0.00 M-5 0.00 11,000,000.00 1.00000000 0.00 M-6 0.00 7,150,000.00 1.00000000 0.00 M-7 0.00 7,700,000.00 1.00000000 0.00 M-8 0.00 7,150,000.00 1.00000000 0.00 M-9 0.00 5,500,000.00 1.00000000 0.00 B 0.00 5,500,000.00 1.00000000 0.00 C 0.00 10,450,000.00 1.00000957 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 1017,~~681~~572,~~428~~295.7543 1,~~063~~045,~~479~~906,~~254~~959.9452 0.~~96679932~~95082451 1017,~~681~~572,~~428~~295.7543

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 625,700,000.00 ~~975~~963.~~77158323~~41831240 0.~~51781774~~51227326 1116.~~83545309~~51457047 0.00000000 A-2 50,000,000.00 ~~967~~958.~~54878180~~57890260 0.~~33040560~~32032280 820.~~63947340~~70246440 0.00000000 A-3A 87,000,000.00 ~~895~~867.~~89499977~~11921540 1.~~05995667~~02761046 2766.~~71582770~~41445793 0.00000000 A-3B 160,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3C 31,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 44,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 24,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 11,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 11,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 11,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 7,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 7,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 7,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 5,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 5,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 10,449,900.00 1000.00956947 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 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 1217.~~35327083~~02684373 ~~963~~946.~~41831240~~39146868 0.~~96341831~~94639147 1217.~~35327083~~02684373 A-2 0.00000000 821.~~96987900~~02278740 ~~958~~937.~~57890260~~55611540 0.~~95857890~~93755612 821.~~96987900~~02278740 A-3A 0.00000000 2867.~~77578437~~44206828 ~~867~~799.~~11921540~~67714713 0.~~86711922~~79967715 2867.~~77578437~~44206828 A-3B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3C 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 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 0.00000000 0.00000000 1,000.00956947 1.00000957 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-1 625,700,000.00 2.~~29250~~54000% ~~610~~602,~~540~~810,~~279~~838.6307 1,~~244~~318,~~145~~481.4126 0.00 0.00 A-2 50,000,000.00 2.~~31250~~56000% 4847,~~377~~928,~~439~~945.0913 99105,~~442~~656.5170 0.00 0.00 A-3A 87,000,000.00 2.~~14250~~39000% 7775,~~942~~439,~~864~~371.9874 ~~148~~155,~~437~~258.8642 0.00 0.00 A-3B 160,300,000.00 2.~~29250~~54000% 160,300,000.00 ~~326~~350,~~655~~611.7872 0.00 0.00 A-3C 31,800,000.00 2.~~43250~~68000% 31,800,000.00 6873,~~758~~387.6733 0.00 0.00 M-1 44,000,000.00 2.~~53250~~78000% 44,000,000.00 99105,~~048~~331.8911 0.00 0.00 M-2 24,750,000.00 2.~~63250~~88000% 24,750,000.00 5761,~~915~~380.00 0.00 0.00 M-3 11,000,000.00 2.~~73250~~98000% 11,000,000.00 2628,~~717~~227.7822 0.00 0.00 M-4 11,000,000.00 3.~~23250~~48000% 11,000,000.00 3132,~~606~~963.6733 0.00 0.00 M-5 11,000,000.00 3.~~33250~~58000% 11,000,000.00 3233,~~584~~910.4456 0.00 0.00 M-6 7,150,000.00 3.~~53250~~78000% 7,150,000.00 2223,~~451~~273.0025 0.00 0.00 M-7 7,700,000.00 4.~~43250~~68000% 7,700,000.00 3031,~~338~~031.00 0.00 0.00 M-8 7,150,000.00 45.~~93250~~18000% 7,150,000.00 31,~~348~~892.7897 0.00 0.00 M-9 5,500,000.00 45.~~93250~~18000% 5,500,000.00 24,~~114~~533.4406 0.00 0.00 B 5,500,000.00 45.~~93250~~18000% 5,500,000.00 24,~~114~~533.4406 0.00 0.00 C 10,449,900.00 0.00000% 10,450,000.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,100,000,000.00 2,~~267~~400,~~679~~470.6799 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 1,~~244~~318,~~145~~481.4126 0.00 ~~602~~592,~~810~~157,~~838~~141.0795 A-2 0.00 0.00 99105,~~442~~656.5170 0.00 4746,~~928~~877,~~945~~805.1377 A-3A 0.00 0.00 ~~148~~155,~~437~~258.8642 0.00 7569,~~439~~571,~~371~~911.7480 A-3B 0.00 0.00 ~~326~~350,~~655~~611.7872 0.00 160,300,000.00 A-3C 0.00 0.00 6873,~~758~~387.6733 0.00 31,800,000.00 M-1 0.00 0.00 99105,~~048~~331.8911 0.00 44,000,000.00 M-2 0.00 0.00 5761,~~915~~380.00 0.00 24,750,000.00 M-3 0.00 0.00 2628,~~717~~227.7822 0.00 11,000,000.00 M-4 0.00 0.00 3132,~~606~~963.6733 0.00 11,000,000.00 M-5 0.00 0.00 3233,~~584~~910.4456 0.00 11,000,000.00 M-6 0.00 0.00 2223,~~451~~273.0025 0.00 7,150,000.00 M-7 0.00 0.00 3031,~~338~~031.00 0.00 7,700,000.00 M-8 0.00 0.00 31,~~348~~892.7897 0.00 7,150,000.00 M-9 0.00 0.00 24,~~114~~533.4406 0.00 5,500,000.00 B 0.00 0.00 24,~~114~~533.4406 0.00 5,500,000.00 C 0.00 0.00 32,~~033~~844,~~171~~437.8710 0.00 10,450,000.00 P 0.00 0.00 ~~205~~294,~~149~~558.1817 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 5,~~506~~539,~~000~~466.7226 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-1 625,700,000.00 2.~~29250~~54000% ~~975~~963.~~77158323~~41831240 12.~~98840564~~10720994 0.00000000 0.00000000 A-2 50,000,000.00 2.~~31250~~56000% ~~967~~958.~~54878180~~57890260 12.~~98885020~~11313400 0.00000000 0.00000000 A-3A 87,000,000.00 2.~~14250~~39000% ~~895~~867.~~89499977~~11921540 1.~~70618230~~78457954 0.00000000 0.00000000 A-3B 160,300,000.00 2.~~29250~~54000% 1000.00000000 2.~~03777779~~18722221 0.00000000 0.00000000 A-3C 31,800,000.00 2.~~43250~~68000% 1000.00000000 2.~~16222233~~30777767 0.00000000 0.00000000 M-1 44,000,000.00 2.~~53250~~78000% 1000.00000000 2.~~25111114~~39388886 0.00000000 0.00000000 M-2 24,750,000.00 2.~~63250~~88000% 1000.00000000 2.~~34000000~~48000000 0.00000000 0.00000000 M-3 11,000,000.00 2.~~73250~~98000% 1000.00000000 2.~~42888909~~56611091 0.00000000 0.00000000 M-4 11,000,000.00 3.~~23250~~48000% 1000.00000000 2.~~87333364~~99666636 0.00000000 0.00000000 M-5 11,000,000.00 3.~~33250~~58000% 1000.00000000 23.~~96222182~~08277818 0.00000000 0.00000000 M-6 7,150,000.00 3.~~53250~~78000% 1000.00000000 3.~~14000000~~25500000 0.00000000 0.00000000 M-7 7,700,000.00 4.~~43250~~68000% 1000.00000000 34.~~94000000~~03000000 0.00000000 0.00000000 M-8 7,150,000.00 45.~~93250~~18000% 1000.00000000 4.~~38444476~~46055524 0.00000000 0.00000000 M-9 5,500,000.00 45.~~93250~~18000% 1000.00000000 4.~~38444364~~46055636 0.00000000 0.00000000 B 5,500,000.00 45.~~93250~~18000% 1000.00000000 4.~~38444364~~46055636 0.00000000 0.00000000 C 10,449,900.00 0.00000% 1000.00956947 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 All Classes are per $1,000 denomination

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 12.~~98840564~~10720994 0.00000000 ~~963~~946.~~41831240~~39146868 A-2 0.00000000 0.00000000 12.~~98885020~~11313400 0.00000000 ~~958~~937.~~57890260~~55611540 A-3A 0.00000000 0.00000000 1.~~70618230~~78457954 0.00000000 ~~867~~799.~~11921540~~67714713 A-3B 0.00000000 0.00000000 2.~~03777779~~18722221 0.00000000 1000.00000000 A-3C 0.00000000 0.00000000 2.~~16222233~~30777767 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 2.~~25111114~~39388886 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~34000000~~48000000 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~42888909~~56611091 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 2.~~87333364~~99666636 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 23.~~96222182~~08277818 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.~~14000000~~25500000 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 34.~~94000000~~03000000 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 4.~~38444476~~46055524 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 4.~~38444364~~46055636 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.~~38444364~~46055636 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~290~~272.~~25845893~~19754256 0.00000000 1000.00956947 P 0.00000000 0.00000000 ~~2051491~~2945581.~~80000000~~70000000 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 1623,~~345~~176,~~648~~888.0697 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1,~~245~~333,~~639~~058.3641 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~205~~294,~~149~~558.1817 Total Deposits 1724,~~796~~804,~~436~~505.6055 Withdrawals Reimbursement for Servicer Advances 1,~~157~~245,~~412~~639.1136 Payment of Service Fee ~~451~~447,~~595~~104.0250 Payment of Interest and Principal 1623,~~187~~111,~~429~~761.4769 Total Withdrawals (Pool Distribution Amount) 1724,~~796~~804,~~436~~505.6055 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~447~~443,~~566~~116.9245 Wells Fargo Bank, NA 43,~~028~~988.1005 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~451~~447,~~595~~104.0250

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 24 0 0 24 ~~344~~612,~~098~~910.1583 0.00 0.00 ~~344~~612,~~098~~910.1583 30 Days 96114 3 0 0 99117 1619,~~118~~055,~~179~~423.1167 1,~~307~~303,~~213~~921.7076 0.00 0.00 1720,~~425~~359,~~392~~345.8143 60 Days 3529 10 0 0 3629 63,~~013~~808,~~034~~677.6251 ~~47,972~~0.3800 0.00 0.00 63,~~061~~808,~~007~~677.0051 90 Days 2114 1 011 0 2226 34,~~856~~300,~~388~~647.6467 7047,~~506~~859.1488 02,158,674.0056 0.00 36,~~926~~507,~~894~~182.7811 120 Days 3 02 016 0 321 ~~426~~3,~~292~~743,145.3730 0214,424.0015 02,696,467.0002 0.00 ~~426~~6,~~292~~654,036.3747 150 Days 03 0 13 0 16 0507,123.0021 0.00 ~~235~~207,~~100~~123.0021 0.00 ~~235~~714,~~100~~246.0042 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~155~~163 710 130 0 ~~163~~203 2631,~~413~~415,~~894~~017.7436 12,~~769~~179,~~790~~116.3762 ~~235~~5,~~100~~062,264.0079 0.00 2838,~~418~~656,~~785~~398.1177 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.~~039085~~079239% 0.000000% 0.000000% 0.~~039085~~079239% 0.~~032353~~058595% 0.000000% 0.000000% 0.~~032353~~058595% 30 Days 12.~~876099~~258320% 0.~~058628~~059429% 0.000000% 0.000000% 12.~~934727~~317750% 1.~~515468~~821707% 0.~~122907~~124656% 0.000000% 0.000000% 1.~~638375~~946363% 60 Days 0.~~683995~~574485% 0.~~019543~~000000% 0.000000% 0.000000% 0.~~703537~~574485% 0.~~565359~~364111% 0.~~004510~~000000% 0.000000% 0.000000% 0.~~569870~~364111% 90 Days 0.~~410397~~277338% 0.~~019543~~019810% 0.~~000000~~217908% 0.000000% 0.~~429939~~515055% 0.~~362586~~411144% 0.~~006629~~004575% 0.~~000000~~206370% 0.000000% 0.~~369215~~622090% 120 Days 0.~~058628~~059429% 0.~~000000~~039620% 0.~~000000~~316957% 0.000000% 0.~~058628~~416006% 0.~~040081~~357846% 0.~~000000~~020499% 0.~~000000~~257783% 0.000000% 0.~~040081~~636129% 150 Days 0.~~000000~~059429% 0.000000% 0.~~019543~~059429% 0.000000% 0.~~019543~~118859% 0.~~000000~~048481% 0.000000% 0.~~022105~~019801% 0.000000% 0.~~022105~~068282% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.~~029119~~229002% 0.~~136799~~198098% 0.~~019543~~594295% 0.000000% 34.~~185460~~021395% 23.~~483494~~003290% 0.~~166400~~208325% 0.~~022105~~483955% 0.000000% 23.~~671998~~695569%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1,~~245~~333,~~639~~058.3641

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 6.~~426478~~424500% Weighted Average Net Coupon 5.~~926478~~924500% Weighted Average Pass-Through Rate 5.~~921978~~920000% Weighted Average Maturity(Stepdown Calculation ) ~~353~~352 Beginning Scheduled Collateral Loan Count 5,~~160~~117 Number Of Loans Paid In Full 4369 Ending Scheduled Collateral Loan Count 5,~~117~~048 Beginning Scheduled Collateral Balance 1,~~074~~063,~~160~~479,~~683~~254.6994 Ending Scheduled Collateral Balance 1,~~063~~045,~~479~~906,~~254~~959.9451 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 1,~~063~~046,~~578~~020,~~004~~073.5867 Monthly P &I Constant 6,~~185~~119,~~292~~549.9985 Special Servicing Fee 0.00 Prepayment Penalties ~~205~~294,~~149~~558.1817 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 1,~~063~~045,~~479~~906,~~254~~959.9451 Scheduled Principal ~~432~~425,~~735~~947.0763 Unscheduled Principal 1017,~~248~~146,~~693~~347.6880 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 10,450,000.00 Overcollateralized Amount 10,450,000.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 0.00

Miscellaneous Reporting Credit Enhancement Percentage 13.~~6533~~8827% Excess Cash Amount 0.00 Extra Principal Distribution 0.00 Overcollateralization Amount 10,450,000.00 Overcollateralized Target Amount 10,450,000.00 Overcollateralized Deficiency Amount 0.00 Overcollateralized Release Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0.00 Trigger Event ~~0.00~~NO Stepdown ~~0.00~~NO Dividend Account Deposit ~~111~~0.3600 Dividend Account Withdrawel 0111.0027 Dividend Account Balance ~~334~~445.5583 Soldier/Sailor 0.00 Cap Payment 0.00 Miscellaneous Bond Adjustment 0-1,478.0054 Next Month A-1 Coupon Rate 2.~~5400~~77750% Next Month A-2 Coupon Rate 2.~~5600~~79750% Next Month A-3A Coupon Rate 2.~~3900~~62750% Next Month A-3B Coupon Rate 2.~~5400~~77750% Next Month A-3C Coupon Rate 2.~~6800~~91750% Next Month M-1 Coupon Rate 23.~~7800~~01750% Next Month M-2 Coupon Rate 23.~~8800~~11750% Next Month M-3 Coupon Rate 23.~~9800~~21750% Next Month M-4 Coupon Rate 3.~~4800%~~71750 Next Month M-5 Coupon Rate 3.~~5800~~81750% Next Month M-6 Coupon Rate 34.~~7800~~01750% Next Month M-7 Coupon Rate 4.~~6800~~91750% Next Month M-8 Coupon Rate 5.~~1800~~41750% Next Month M-9 Coupon Rate 5.~~1800~~41750%

Filing Compare · FIRST FRANKLIN MORTGAGE LOAN TRUST 2004-FF5