8-K 1 ace04fm1_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 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2004-FM1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-110039-03 54-2142308 Pooling and Servicing Agreement) (Commission 54-2142309 (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 December 27, 2004 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2004-FM1 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-FM1 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. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2004-FM1 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: 12/29/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2004-FM1 Trust, relating to the December 27, 2004 distribution. EX-99.1

ACE Securities Corporation Asset Backed Pass-Through Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ACE Securities Corporation Asset Backed Pass-Through Certificates Series: 2004-FM1 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 004421DG5 SEN 2.~~23250~~48000% ~~332~~305,~~408~~159,~~662~~941.9725 ~~659~~651,~~646~~686.5301 2723,~~248~~131,~~721~~838.7280 A-2A 004421DH3 SEN 2.~~25250~~50000% 2219,~~124~~742,~~827~~653.6530 4442,~~298~~501.8255 21,~~382~~950,~~174~~434.3575 A-2B 004421DR1 SEN 2.~~12250~~37000% 4639,~~844~~741,~~453~~324.8483 8881,~~379~~105.8742 75,~~103~~815,~~129~~774.0084 A-2C 004421DS9 SEN 2.~~39250~~64000% 19,127,000.00 4043,~~676~~482.7505 0.00 A-3 004421DJ9 SEN 2.~~33250~~58000% 3633,~~934~~906,~~360~~719.5045 7675,~~577~~329.2443 32,~~027~~570,~~641~~208.0481 M-1 004421DK6 MEZ 2.~~53250~~78000% 69,547,000.00 ~~156~~166,~~558~~487.0379 0.00 M-2 004421DL4 MEZ 3.~~18250~~43000% 57,128,000.00 ~~161~~168,~~608~~733.7790 0.00 M-3 004421DM2 MEZ 3.~~38250~~63000% 17,387,000.00 5254,~~276~~348.9186 0.00 M-4 004421DN0 MEZ 3.~~73250~~98000% 17,387,000.00 5759,~~686~~589.2011 0.00 M-5 004421DP5 MEZ 34.~~88250~~13000% 14,903,000.00 5153,~~431~~000.9186 0.00 M-6 004421DQ3 MEZ 5.~~43250~~68000% 9,935,000.00 4748,~~975~~593.0119 0.00 B-1A ACE041B1A JUN 5.~~43250~~68000% 6,955,000.00 3334,~~584~~017.9268 0.00 B-1B ACE041B1B JUN 6.00000% 6,955,000.00 34,775.00 0.00 CE 00499ABN4 JUN 0.00000% 8,445,016.93 2,~~340~~141,~~320~~172.9973 0.00 P ACE04010P SEN 0.00000% 100.00 ~~987~~760,~~196~~543.2400 0.00 R1 ACE0401R1 SEN 0.00000% 0.00 0.00 0.00 Totals ~~666~~626,~~081~~319,~~421~~755.8976 4,~~832~~415,~~993~~366.1958 3933,~~761~~468,~~666~~257.1120

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~305~~282,~~159~~028,~~941~~102.2545 2723,~~908~~783,~~368~~524.2581 0.00 A-2A 0.00 1917,~~742~~792,~~653~~218.3055 21,~~426~~992,~~473~~936.1730 0.00 A-2B 0.00 3933,~~741~~925,~~324~~549.8399 75,~~191~~896,~~508~~880.8726 0.00 A-2C 0.00 19,127,000.00 4043,~~676~~482.7505 0.00 A-3 0.00 3331,~~906~~336,~~719~~510.4565 32,~~104~~645,~~218~~538.2824 0.00 M-1 0.00 69,547,000.00 ~~156~~166,~~558~~487.0379 0.00 M-2 0.00 57,128,000.00 ~~161~~168,~~608~~733.7790 0.00 M-3 0.00 17,387,000.00 5254,~~276~~348.9186 0.00 M-4 0.00 17,387,000.00 5759,~~686~~589.2011 0.00 M-5 0.00 14,903,000.00 5153,~~431~~000.9186 0.00 M-6 0.00 9,935,000.00 4748,~~975~~593.0119 0.00 B-1A 0.00 6,955,000.00 3334,~~584~~017.9268 0.00 B-1B 0.00 6,955,000.00 34,775.00 0.00 CE 0.00 8,445,016.93 2,~~340~~141,~~320~~172.9973 0.00 P 0.00 100.00 ~~987~~760,~~196~~543.2400 0.00 R1 0.00 0.00 0.00 0.00 Totals 0.00 ~~626~~592,~~319~~851,~~755~~498.7657 4437,~~594~~883,~~659~~623.3078 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-1 571,643,000.00 ~~332~~305,~~408~~159,~~662~~941.9725 0.00 2723,~~248~~131,~~721~~838.7280 0.00 0.00 A-2A 37,604,000.00 2219,~~124~~742,~~827~~653.6530 0.00 21,~~382~~950,~~174~~434.3575 0.00 0.00 A-2B 93,000,000.00 4639,~~844~~741,~~453~~324.8483 0.00 75,~~103~~815,~~129~~774.0084 0.00 0.00 A-2C 19,127,000.00 19,127,000.00 0.00 0.00 0.00 0.00 A-3 63,516,000.00 3633,~~934~~906,~~360~~719.5045 0.00 32,~~027~~570,~~641~~208.0481 0.00 0.00 M-1 69,547,000.00 69,547,000.00 0.00 0.00 0.00 0.00 M-2 57,128,000.00 57,128,000.00 0.00 0.00 0.00 0.00 M-3 17,387,000.00 17,387,000.00 0.00 0.00 0.00 0.00 M-4 17,387,000.00 17,387,000.00 0.00 0.00 0.00 0.00 M-5 14,903,000.00 14,903,000.00 0.00 0.00 0.00 0.00 M-6 9,935,000.00 9,935,000.00 0.00 0.00 0.00 0.00 B-1A 6,955,000.00 6,955,000.00 0.00 0.00 0.00 0.00 B-1B 6,955,000.00 6,955,000.00 0.00 0.00 0.00 0.00 CE 8,444,303.20 8,445,016.93 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 Totals 993,531,403.20 ~~666~~626,~~081~~319,~~421~~755.8976 0.00 3933,~~761~~468,~~666~~257.1120 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 2723,~~248~~131,~~721~~838.7280 ~~305~~282,~~159~~028,~~941~~102.2545 0.~~53382958~~49336404 2723,~~248~~131,~~721~~838.7280 A-2A 21,~~382~~950,~~174~~434.3575 1917,~~742~~792,~~653~~218.3055 0.~~52501471~~47314697 21,~~382~~950,~~174~~434.3575 A-2B 75,~~103~~815,~~129~~774.0084 3933,~~741~~925,~~324~~549.8399 0.~~42732607~~36479086 75,~~103~~815,~~129~~774.0084 A-2C 0.00 19,127,000.00 1.00000000 0.00 A-3 32,~~027~~570,~~641~~208.0481 3331,~~906~~336,~~719~~510.4565 0.~~53382958~~49336404 32,~~027~~570,~~641~~208.0481 M-1 0.00 69,547,000.00 1.00000000 0.00 M-2 0.00 57,128,000.00 1.00000000 0.00 M-3 0.00 17,387,000.00 1.00000000 0.00 M-4 0.00 17,387,000.00 1.00000000 0.00 M-5 0.00 14,903,000.00 1.00000000 0.00 M-6 0.00 9,935,000.00 1.00000000 0.00 B-1A 0.00 6,955,000.00 1.00000000 0.00 B-1B 0.00 6,955,000.00 1.00000000 0.00 CE 0.00 8,445,016.93 1.00008452 0.00 P 0.00 100.00 1.00000000 0.00 R1 0.00 0.00 0.00000000 0.00 Totals 3933,~~761~~468,~~666~~257.1120 ~~626~~592,~~319~~851,~~755~~498.7657 0.~~63039754~~59671138 3933,~~761~~468,~~666~~257.1120

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 571,643,000.00 ~~581~~533.~~49695347~~82957764 0.00000000 4740.~~66737583~~46553321 0.00000000 A-2A 37,604,000.00 ~~588~~525.~~36367541~~01471386 0.00000000 6351.~~34896155~~86774678 0.00000000 A-2B 93,000,000.00 ~~503~~427.~~70380473~~32607344 0.00000000 7662.~~37773118~~53521333 0.00000000 A-2C 19,127,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 63,516,000.00 ~~581~~533.~~49695352~~82957759 0.00000000 4740.~~66737578~~46553325 0.00000000 M-1 69,547,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 57,128,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 17,387,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 17,387,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 14,903,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 9,935,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1A 6,955,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1B 6,955,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 8,444,303.20 1000.08452207 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R1 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 4740.~~66737583~~46553321 ~~533~~493.~~82957764~~36404443 0.~~53382958~~49336404 4740.~~66737583~~46553321 A-2A 0.00000000 6351.~~34896155~~86774678 ~~525~~473.~~01471386~~14696708 0.~~52501471~~47314697 6351.~~34896155~~86774678 A-2B 0.00000000 7662.~~37773118~~53521333 ~~427~~364.~~32607344~~79086011 0.~~42732607~~36479086 7662.~~37773118~~53521333 A-2C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 0.00000000 4740.~~66737578~~46553325 ~~533~~493.~~82957759~~36404449 0.~~53382958~~49336404 4740.~~66737578~~46553325 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 B-1A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 1,000.08452207 1.00008452 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R1 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-1 571,643,000.00 2.~~23250~~48000% ~~332~~305,~~408~~159,~~662~~941.9725 ~~659~~651,~~646~~686.5201 0.00 0.00 A-2A 37,604,000.00 2.~~25250~~50000% 2219,~~124~~742,~~827~~653.6530 4442,~~298~~501.8255 0.00 0.00 A-2B 93,000,000.00 2.~~12250~~37000% 4639,~~844~~741,~~453~~324.8483 8881,~~379~~105.8742 0.00 0.00 A-2C 19,127,000.00 2.~~39250~~64000% 19,127,000.00 4043,~~676~~482.7505 0.00 0.00 A-3 63,516,000.00 2.~~33250~~58000% 3633,~~934~~906,~~360~~719.5045 7675,~~577~~329.2443 0.00 0.00 M-1 69,547,000.00 2.~~53250~~78000% 69,547,000.00 ~~156~~166,~~558~~487.0279 0.00 0.00 M-2 57,128,000.00 3.~~18250~~43000% 57,128,000.00 ~~161~~168,~~608~~733.7690 0.00 0.00 M-3 17,387,000.00 3.~~38250~~63000% 17,387,000.00 5254,~~276~~348.9186 0.00 0.00 M-4 17,387,000.00 3.~~73250~~98000% 17,387,000.00 5759,~~686~~589.2011 0.00 0.00 M-5 14,903,000.00 34.~~88250~~13000% 14,903,000.00 5153,~~431~~000.9186 0.00 0.00 M-6 9,935,000.00 5.~~43250~~68000% 9,935,000.00 4748,~~975~~593.0119 0.00 0.00 B-1A 6,955,000.00 5.~~43250~~68000% 6,955,000.00 3334,~~584~~017.9268 0.00 0.00 B-1B 6,955,000.00 6.00000% 6,955,000.00 34,775.00 0.00 0.00 CE 8,444,303.20 0.00000% 8,445,016.93 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 993,531,403.20 1,~~505~~513,~~475~~650.9385 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 ~~659~~651,~~646~~686.5301 0.00 ~~305~~282,~~159~~028,~~941~~102.2545 A-2A 0.00 0.00 4442,~~298~~501.8255 0.00 1917,~~742~~792,~~653~~218.3055 A-2B 0.00 0.00 8881,~~379~~105.8742 0.00 3933,~~741~~925,~~324~~549.8399 A-2C 0.00 0.00 4043,~~676~~482.7505 0.00 19,127,000.00 A-3 0.00 0.00 7675,~~577~~329.2443 0.00 3331,~~906~~336,~~719~~510.4565 M-1 0.00 0.00 ~~156~~166,~~558~~487.0379 0.00 69,547,000.00 M-2 0.00 0.00 ~~161~~168,~~608~~733.7790 0.00 57,128,000.00 M-3 0.00 0.00 5254,~~276~~348.9186 0.00 17,387,000.00 M-4 0.00 0.00 5759,~~686~~589.2011 0.00 17,387,000.00 M-5 0.00 0.00 5153,~~431~~000.9186 0.00 14,903,000.00 M-6 0.00 0.00 4748,~~975~~593.0119 0.00 9,935,000.00 B-1A 0.00 0.00 3334,~~584~~017.9268 0.00 6,955,000.00 B-1B 0.00 0.00 34,775.00 0.00 6,955,000.00 CE 0.00 0.00 2,~~340~~141,~~320~~172.9973 0.00 8,445,016.93 P 0.00 0.00 ~~987~~760,~~196~~543.2400 0.00 100.00 R1 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 4,~~832~~415,~~993~~366.1958 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-1 571,643,000.00 2.~~23250~~48000% ~~581~~533.~~49695347~~82957764 1.~~15394839~~14002272 0.00000000 0.00000000 A-2A 37,604,000.00 2.~~25250~~50000% ~~588~~525.~~36367541~~01471386 1.~~17803478~~13024013 0.00000000 0.00000000 A-2B 93,000,000.00 2.~~12250~~37000% ~~503~~427.~~70380473~~32607344 0.~~95032118~~87210129 0.00000000 0.00000000 A-2C 19,127,000.00 2.~~39250~~64000% 1000.00000000 2.~~12666649~~27333351 0.00000000 0.00000000 A-3 63,516,000.00 2.~~33250~~58000% ~~581~~533.~~49695352~~82957759 1.~~20563700~~18599140 0.00000000 0.00000000 M-1 69,547,000.00 2.~~53250~~78000% 1000.00000000 2.~~25111105~~39388888 0.00000000 0.00000000 M-2 57,128,000.00 3.~~18250~~43000% 1000.00000000 2.~~82888881~~95361119 0.00000000 0.00000000 M-3 17,387,000.00 3.~~38250~~63000% 1000.00000000 3.~~00666647~~12583309 0.00000000 0.00000000 M-4 17,387,000.00 3.~~73250~~98000% 1000.00000000 3.~~31777765~~42722206 0.00000000 0.00000000 M-5 14,903,000.00 34.~~88250~~13000% 1000.00000000 3.~~45111119~~55638865 0.00000000 0.00000000 M-6 9,935,000.00 5.~~43250~~68000% 1000.00000000 4.~~82888878~~89111122 0.00000000 0.00000000 B-1A 6,955,000.00 5.~~43250~~68000% 1000.00000000 4.~~82888857~~89111143 0.00000000 0.00000000 B-1B 6,955,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 CE 8,444,303.20 0.00000% 1000.08452207 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R1 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 0.00000000 0.00000000 1.~~15394841~~14002272 0.00000000 ~~533~~493.~~82957764~~36404443 A-2A 0.00000000 0.00000000 1.~~17803478~~13024013 0.00000000 ~~525~~473.~~01471386~~14696708 A-2B 0.00000000 0.00000000 0.~~95032118~~87210129 0.00000000 ~~427~~364.~~32607344~~79086011 A-2C 0.00000000 0.00000000 2.~~12666649~~27333351 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 1.~~20563700~~18599140 0.00000000 ~~533~~493.~~82957759~~36404449 M-1 0.00000000 0.00000000 2.~~25111119~~39388888 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~82888899~~95361119 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~00666647~~12583309 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~31777765~~42722206 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.~~45111119~~55638865 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 4.~~82888878~~89111122 0.00000000 1000.00000000 B-1A 0.00000000 0.00000000 4.~~82888857~~89111143 0.00000000 1000.00000000 B-1B 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~277~~253.~~14791080~~56416975 0.00000000 1000.08452207 P 0.00000000 0.00000000 ~~9871962~~7605430.~~40000000~~00000000 0.00000000 1000.00000000 R1 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 4337,~~950~~368,~~105~~974.2940 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~292~~318,~~672~~184.9549 Realized Loss (Gains, Subsequent Expenses & Recoveries) ~~(47,024~~0.~~83)~~00 Prepayment Penalties ~~987~~760,~~196~~543.2400 Total Deposits 4538,~~182~~447,~~949~~701.6589 Withdrawals Reimbursement for Servicer Advances ~~299~~292,~~655~~672.0695 Payment of Service Fee ~~288~~271,~~635~~405.2916 Payment of Interest and Principal 4437,~~594~~883,~~659~~623.3078 Total Withdrawals (Pool Distribution Amount) 4538,~~182~~447,~~949~~701.6589 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~277~~260,~~533~~966.9156 Credit Risk Manager Fee: The Murrayhill Company 87,~~326~~828.0297 Master Servicing Fee: Wells Fargo 2,~~775~~609.3663 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~288~~271,~~635~~405.2916

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 5055 1 0 5156 6,~~145~~587,~~746~~703.8280 57262,~~618~~061.4719 0.00 6,~~203~~849,~~365~~764.2999 30 Days ~~127~~138 41 510 0 ~~136~~149 1516,~~159~~875,~~932~~646.3398 ~~369~~20,~~897~~078.0411 1,~~312~~619,~~201~~542.2780 0.00 1618,~~842~~515,~~030~~267.6489 60 Days 4349 4 3 0 5056 56,~~616~~174,~~675~~689.7559 ~~368~~365,~~669~~212.3783 ~~274~~533,~~741~~990.4175 0.00 67,~~260~~073,~~086~~893.5317 90 Days 71 35 2519 0 3525 ~~524~~161,~~641~~692.9200 ~~219~~299,~~473~~340.5676 32,~~677~~313,~~159~~394.6966 0.00 42,~~421~~774,~~275~~427.1742 120 Days 40 20 1825 0 2425 ~~587,102~~0.0900 ~~133,060~~0.5300 23,~~395~~103,~~756~~185.5540 0.00 3,~~115~~103,~~919~~185.1740 150 Days 10 35 19 1 2425 ~~151,524~~0.8700 ~~318~~555,~~761~~247.4169 2,~~794~~796,~~225~~334.6364 ~~162~~76,020.8971 3,~~426~~427,~~532~~603.8004 180+ Days 1 1617 2938 1011 5667 7,665.76 1,~~135~~371,~~945~~246.9812 34,~~858~~975,~~343~~983.9668 12,~~585~~176,~~530~~806.4266 68,~~587~~531,~~486~~702.1222 Totals ~~183~~189 8287 ~~100~~115 1112 ~~376~~403 2223,~~047~~219,~~542~~694.7233 89,~~691~~198,~~554~~829.7131 1415,~~370~~604,~~046~~493.9812 12,~~747~~252,~~551~~827.3137 4650,~~856~~275,~~695~~844.7213 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 1.~~132503~~312649% 0.~~022650~~023866% 0.000000% 1.~~155153~~336516% 01.~~980095~~109740% 0.~~009189~~044146% 0.000000% 01.~~989284~~153886% 30 Days 23.~~876557~~293556% 0.~~090600~~023866% 0.~~113250~~238663% 0.000000% 3.~~080408~~556086% 2.~~417636~~842808% 0.~~058989~~003382% 0.~~209264~~272822% 0.000000% 23.~~685889~~119013% 60 Days 01.~~973952~~169451% 0.~~090600~~095465% 0.~~067950~~071599% 0.000000% 1.~~132503~~336516% 01.~~895721~~040165% 0.~~058794~~061522% 0.~~043814~~089954% 0.000000% 01.~~998329~~191641% 90 Days 0.~~158550~~023866% 0.~~067950~~119332% 0.~~566251~~453461% 0.000000% 0.~~792752~~596659% 0.~~083667~~027238% 0.~~035001~~050426% 0.~~586416~~389706% 0.000000% 0.~~705084~~467370% 120 Days 0.~~090600~~000000% 0.~~045300~~000000% 0.~~407701~~596659% 0.000000% 0.~~543601~~596659% 0.~~093628~~000000% 0.~~021220~~000000% 0.~~382064~~522751% 0.000000% 0.~~496912~~522751% 150 Days 0.~~022650~~000000% 0.~~067950~~119332% 0.~~430351~~453461% 0.~~022650~~023866% 0.~~543601~~596659% 0.~~024164~~000000% 0.~~050835~~093535% 0.~~445610~~471060% 0.~~025838~~012806% 0.~~546448~~577401% 180+ Days 0.~~022650~~023866% 0.~~362401~~405728% 0.~~656852~~906921% 0.~~226501~~262530% 1.~~268403~~599045% 0.~~001222~~001291% 0.~~181155~~230995% 0.~~615311~~838236% 0.~~252853~~366697% 1.~~050542~~437219% Totals 4.~~144960~~510740% 12.~~857305~~076372% 2.~~265006~~744630% 0.~~249151~~286396% 89.~~516421~~618138% 3.~~516040~~911503% 1.~~386089~~549600% 2.~~291668~~628674% 0.~~278691~~379503% 78.~~472488~~469280%

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 2731 1 0 2832 4,~~495~~912,~~826~~825.4143 57262,~~618~~061.4719 0.00 45,~~553~~174,~~444~~886.8862 30 Days 7375 20 35 0 7880 10,~~457~~893,~~680~~155.4187 ~~306,489~~0.1200 ~~579~~966,~~360~~222.1455 0.00 11,~~343~~859,~~529~~378.6742 60 Days 27 1 23 0 3031 3,~~808~~518,~~443~~858.1033 ~~163~~123,~~562~~888.8961 ~~236~~533,~~020~~990.3975 0.00 4,~~208~~176,~~026~~737.3869 90 Days 31 2 1711 0 2214 ~~226~~161,~~874~~692.0900 ~~213~~254,~~199~~218.6529 21,~~551~~308,~~698~~462.9717 0.00 21,~~991~~724,~~772~~372.7146 120 Days 20 10 1115 0 1415 ~~575,774~~0.5600 ~~101,465~~0.5700 1,~~930~~975,~~117~~760.2193 0.00 21,~~607~~975,~~357~~760.3493 150 Days 0 12 1311 1 1514 0.00 64279,~~364~~537.8306 2,~~168~~340,~~308~~934.0310 ~~162~~76,020.8971 2,~~394~~696,~~693~~491.7587 180 Days 0 89 1421 6 2836 0.00 ~~956~~1,~~135~~049,862.5746 23,~~685~~604,~~917~~763.0744 ~~570~~828,~~670~~594.9740 45,~~212~~483,~~723~~220.6130 Totals ~~105~~103 4245 6167 7 ~~215~~222 1514,~~068~~573,~~772~~706.1620 6,~~301~~620,~~044~~331.0485 10,~~209~~992,~~040~~195.2813 ~~732~~904,~~691~~615.8611 3233,~~311~~090,~~548~~848.3429 0-29 Days 1.~~244240~~499758% 0.~~046083~~048379% 0.000000% 1.~~290323~~548137% 1.~~286021~~482861% 0.~~016482~~079099% 0.000000% 1.~~302503~~561960% 30 Days 3.~~364055~~628447% 0.~~092166~~000000% 0.~~138249~~241896% 0.000000% 3.~~594470~~870343% 23.~~991396~~287932% 0.~~087671~~000000% 0.~~165725~~291639% 0.000000% 3.~~244791~~579571% 60 Days 1.~~244240~~306241% 0.~~046083~~048379% 0.~~092166~~145138% 0.000000% 1.~~382488~~499758% 1.~~089397~~062113% 0.~~046787~~037394% 0.~~067513~~161177% 0.000000% 1.~~203697~~260684% 90 Days 0.~~138249~~048379% 0.~~092166~~096759% 0.~~783410~~532172% 0.000000% 10.~~013825~~677310% 0.~~064897~~048804% 0.~~060985~~076732% 0.~~729908~~394939% 0.000000% 0.~~855790~~520475% 120 Days 0.~~092166~~000000% 0.~~046083~~000000% 0.~~506912~~725689% 0.000000% 0.~~645161~~725689% 0.~~164699~~000000% 0.~~029024~~000000% 0.~~552106~~596353% 0.000000% 0.~~745829~~596353% 150 Days 0.000000% 0.~~046083~~096759% 0.~~599078~~532172% 0.~~046083~~048379% 0.~~691244~~677310% 0.000000% 0.~~018411~~084374% 0.~~620240~~706575% 0.~~046346~~022946% 0.~~684997~~813895% 180 Days 0.000000% 0.~~368664~~435414% 01.~~645161~~015965% 0.~~276498~~290276% 1.~~290323~~741655% 0.000000% 0.~~273500~~316885% 01.~~768301~~088043% 0.~~163239~~250099% 1.~~205040~~655026% Totals 4.~~838710~~983067% 12.~~935484~~177068% 23.~~811060~~241413% 0.~~322581~~338655% 910.~~907834~~740203% 4.~~310389~~398850% 1.~~802400~~998246% 23.~~920273~~317825% 0.~~209585~~273044% 9.~~242646~~987965% 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 19 0 0 19 ~~895~~897,~~243~~861.0257 0.00 0.00 ~~895~~897,~~243~~861.0257 30 Days 4353 2 1 4 0 4658 14,~~977~~088,~~474~~992.6518 6320,~~407~~078.9211 ~~336~~257,~~240~~048.1253 0.00 24,~~377~~366,~~122~~118.6982 60 Days 1214 3 10 0 1617 ~~590~~397,~~037~~912.2149 ~~205~~241,~~106~~324.4822 ~~38,721~~0.0200 0.00 ~~833~~639,~~864~~236.71 90 Days 0 3 15 7 0 118 ~~267,824~~0.9400 645,~~273~~122.9147 ~~783~~286,~~910~~737.4505 0.00 1331,~~058,009~~859.3052 120 Days 20 10 48 0 78 ~~11,327~~0.5300 ~~31,594~~0.9600 ~~312~~755,~~016~~931.2031 0.00 ~~354~~755,~~938~~931.6931 150 Days 10 2 46 0 78 ~~151,524~~0.8700 254,~~396~~144.5830 ~~216~~323,~~348~~343.6773 0.00 ~~622~~577,~~270~~488.1203 180 Days 1 6 1315 3 2325 7,665.76 ~~101~~243,~~456~~094.8801 ~~755~~915,~~859~~660.3775 615,645.76 1,~~480~~782,~~627~~066.7728 Totals 6268 34 3038 3 ~~129~~143 34,~~005~~494,~~854~~570.9643 1,~~557~~701,~~479~~624.7568 2,~~443~~538,~~095~~721.8337 615,645.76 79,~~622~~350,~~076~~562.3024 0-29 Days 1.~~043956~~100811% 0.000000% 0.000000% 1.~~043956~~100811% 0.~~563251~~592424% 0.000000% 0.000000% 0.~~563251~~592424% 30 Days 23.~~362637~~070684% 0.~~109890~~057937% 0.~~054945~~231750% 0.000000% 23.~~527473~~360371% 12.~~244147~~697985% 0.~~039894~~013248% 0.~~211549~~169605% 0.000000% 12.~~495589~~880838% 60 Days 0.~~659341~~811124% 0.~~164835~~173812% 0.~~054945~~000000% 0.000000% 0.~~879121~~984936% 0.~~371228~~262549% 0.~~129045~~159230% 0.~~024362~~000000% 0.000000% 0.~~524634~~421779% 90 Days 0.~~164835~~000000% 0.~~054945~~173812% 0.~~384615~~289687% 0.000000% 0.~~604396~~463499% 0.~~168505~~000000% 0.~~003947~~029773% 0.~~493205~~189194% 0.000000% 0.~~665657~~218966% 120 Days 0.~~109890~~000000% 0.~~054945~~000000% 0.~~219780~~463499% 0.000000% 0.~~384615~~463499% 0.~~007127~~000000% 0.~~019878~~000000% 0.~~196308~~498776% 0.000000% 0.~~223313~~498776% 150 Days 0.~~054945~~000000% 0.~~109890~~115875% 0.~~219780~~347625% 0.000000% 0.~~384615~~463499% 0.~~095333~~000000% 0.~~160056~~167689% 0.~~136118~~213348% 0.000000% 0.~~391507~~381036% 180 Days 0.~~054945~~057937% 0.~~329670~~347625% 0.~~714286~~869061% 0.~~164835~~173812% 1.~~263736~~448436% 0.~~004823~~005058% 0.~~063833~~160397% 0.~~475556~~604168% 0.~~387339~~406213% 01.~~931551~~175837% Totals 3.~~406593~~939745% 1.~~868132~~969873% 12.~~648352~~201622% 0.~~164835~~173812% 78.~~087912~~285052% 12.~~891162~~965592% 01.~~979903~~122760% 1.~~537097~~675091% 0.~~387339~~406213% 46.~~795502~~169656% 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 2 0 0 2 ~~707~~706,~~428~~845.6976 0.00 0.00 ~~707~~706,~~428~~845.6976 30 Days 43 0 1 0 54 1880,~~381,404~~947.9322 0.00 396,~~601~~271.0172 0.00 1,~~778~~277,~~005~~218.94 60 Days 34 0 0 0 34 1,~~189~~781,~~021~~426.9673 0.00 0.00 0.00 1,~~189~~781,~~021~~426.9673 90 Days 0 0 12 0 12 0.00 0.00 ~~341~~689,~~550~~021.2796 0.00 ~~341~~689,~~550~~021.2796 120 Days 0 0 01 0 01 0.00 0.00 0341,550.0027 0.00 0341,550.0027 150 Days 0 0 10 0 10 0.00 0.00 ~~372,344~~0.7800 0.00 ~~372,344~~0.7800 180 Days 0 0 1 1 2 3 0.00 0.00 ~~333~~372,~~352~~344.8178 ~~399,213.69~~ 732,566.50 1,104,911.28 Totals 7 2 45 12 1416 2,~~570~~662,~~426~~373.8995 ~~707~~706,~~428~~845.6976 1,~~443~~799,~~848~~188.8773 ~~399~~732,~~213~~566.6950 5,~~120~~900,~~918~~974.1494 0-29 Days 01.~~985222~~052632% 0.000000% 0.000000% 01.~~985222~~052632% 0.~~886568~~949115% 0.000000% 0.000000% 0.~~886568~~949115% 30 Days 1.~~970443~~578947% 0.000000% 0.~~492611~~526316% 0.000000% 2.~~463054~~105263% 1.~~731212~~182889% 0.000000% 0.~~497030~~532092% 0.000000% 21.~~228242~~714981% 60 Days 12.~~477833~~105263% 0.000000% 0.000000% 0.000000% 12.~~477833~~105263% 12.~~490112~~392004% 0.000000% 0.000000% 0.000000% 12.~~490112~~392004% 90 Days 0.000000% 0.000000% 01.~~492611~~052632% 0.000000% 01.~~492611~~052632% 0.000000% 0.000000% 0.~~428039~~925182% 0.000000% 0.~~428039~~925182% 120 Days 0.000000% 0.000000% 0.~~000000~~526316% 0.000000% 0.~~000000~~526316% 0.000000% 0.000000% 0.~~000000~~458615% 0.000000% 0.~~000000~~458615% 150 Days 0.000000% 0.000000% 0.~~492611~~000000% 0.000000% 0.~~492611~~000000% 0.000000% 0.000000% 0.~~466632~~000000% 0.000000% 0.~~466632~~000000% 180 Days 0.000000% 0.000000% 0.~~492611~~526316% 01.~~492611~~052632% 01.~~985222~~578947% 0.000000% 0.000000% 0.~~417766~~499965% 0.~~500305~~983651% 01.~~918071~~483616% Totals 3.~~448276~~684211% 01.~~985222~~052632% 12.~~970443~~631579% 01.~~492611~~052632% 68.~~896552~~421053% 3.~~221324~~574893% 0.~~886568~~949115% 12.~~809468~~415854% 0.~~500305~~983651% 67.~~417664~~923513% 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 23 0 0 23 4770,~~248~~171.7004 0.00 0.00 4770,~~248~~171.7004 30 Days 7 0 0 0 7 1,~~343~~012,~~372~~551.3471 0.00 0.00 0.00 1,~~343~~012,~~372~~551.3471 60 Days 14 0 0 0 14 29476,~~173~~492.4804 0.00 0.00 0.00 29476,~~173~~492.4804 90 Days 1 0 0 1 0 1 ~~29,942.89~~ 0.00 0.00 29,173.48 0.00 29,~~942~~173.8948 120 Days 0 0 31 0 31 0.00 0.00 ~~153~~29,~~623~~942.1489 0.00 ~~153~~29,~~623~~942.1489 150 Days 0 0 1 2 0 13 0.00 021,566.0033 37132,~~224~~056.1581 0.00 37153,~~224~~623.1514 180 Days 0 2 1 0 3 0.00 78,~~353~~289.5365 83,214.71 0.00 161,~~568~~504.2436 Totals 911 46 5 0 1822 1,~~402~~489,~~488~~043.7175 ~~125~~170,~~602~~027.2302 274,~~062~~387.0089 0.00 1,~~802~~933,~~152~~458.9466 0-29 Days 01.~~900901~~449275% 0.000000% 0.000000% 01.~~900901~~449275% 0.~~122002~~193377% 0.000000% 0.000000% 0.~~122002~~193377% 30 Days 3.~~153153~~381643% 0.000000% 0.000000% 0.000000% 3.~~153153~~381643% 32.~~468747~~790379% 0.000000% 0.000000% 0.000000% 32.~~468747~~790379% 60 Days 01.~~450450~~932367% 0.000000% 0.000000% 0.000000% 01.~~450450~~932367% 01.~~075329~~313112% 0.000000% 0.000000% 0.000000% 01.~~075329~~313112% 90 Days 0.~~450450~~000000% 0.000000% 0.~~000000~~483092% 0.000000% 0.~~450450~~483092% 0.~~077316~~000000% 0.000000% 0.~~000000~~080396% 0.000000% 0.~~077316~~080396% 120 Days 0.000000% 0.000000% 10.~~351351~~483092% 0.000000% 10.~~351351~~483092% 0.000000% 0.000000% 0.~~396673~~082516% 0.000000% 0.~~396673~~082516% 150 Days 0.000000% 0.~~000000~~483092% 0.~~450450~~966184% 0.000000% 01.~~450450~~449275% 0.000000% 0.~~000000~~059432% 0.~~096117~~363921% 0.000000% 0.~~096117~~423353% 180 Days 0.000000% 0.~~900901~~966184% 0.~~450450~~483092% 0.000000% 1.~~351351~~449275% 0.000000% 0.~~202318~~215750% 0.~~214870~~229322% 0.000000% 0.~~417188~~445072% Totals 45.~~054054~~314010% 12.~~801802~~898551% 2.~~252252~~415459% 0.000000% 810.~~108108~~628019% 34.~~621393~~103490% 0.~~324320~~468559% 0.~~707661~~756155% 0.000000% 45.~~653373~~328204%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~292~~318,~~672~~184.9549

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~533236~~522475% Weighted Average Net Coupon 7.~~033236~~022474% Weighted Average Pass-Through Rate 7.~~013236~~002473% Weighted Average Maturity(Stepdown Calculation ) ~~334~~333 Beginning Scheduled Collateral Loan Count 4,~~668~~415 Number Of Loans Paid In Full ~~253~~225 Ending Scheduled Collateral Loan Count 4,~~415~~190 Beginning Scheduled Collateral Balance ~~666~~626,~~081~~319,~~421~~755.8877 Ending Scheduled Collateral Balance ~~626~~592,~~319~~851,~~755~~498.7757 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~627~~593,~~056~~625,~~157~~956.9639 Monthly P &I Constant 4,~~837~~549,~~608~~967.5226 Special Servicing Fee 0.00 Prepayment Penalties ~~987~~760,~~196~~543.2400 Realized Loss Amount ~~47,024~~0.8300 Cumulative Realized Loss 425,872.52 Ending Scheduled Balance for Premium Loans ~~626~~592,~~319~~851,~~755~~498.7757 Scheduled Principal ~~656~~623,~~151~~670.6756 Unscheduled Principal 3932,~~105~~844,~~514~~586.4464 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~47,024~~0.8300 Overcollateralized reduction Amount 0.00 Specified O/C Amount 8,445,016.93 Overcollateralized Amount 8,445,016.93 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 ~~Extra principal distribution Amount 47,024.83 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.~~529861~~516214 7.~~855900~~840635 6.~~977217~~958114 Weighted Average Net Rate 7.~~029861~~016214 7.~~355900~~340635 6.~~477217~~458114 Weighted Average Maturity ~~345~~344 ~~303~~302 ~~345~~344 Beginning Loan Count 2,~~300~~170 1,~~912~~820 ~~220~~203 Loans Paid In Full ~~130~~103 9294 1713 Ending Loan Count 2,~~170~~067 1,~~820~~726 ~~203~~190 Beginning Scheduled Balance ~~372~~349,~~301~~218,~~993~~972.5251 ~~165~~158,~~916~~712,~~788~~229.9221 8679,~~403~~710,~~717~~272.5095 Ending scheduled Balance ~~349~~330,~~218~~923,~~972~~531.5103 ~~158~~151,~~712~~305,~~229~~623.2108 7974,~~710~~384,~~272~~212.9511 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 2,~~648~~484,~~932~~115.8491 1,~~306~~248,~~459~~995.1815 ~~578~~533,~~863~~192.0644 Scheduled Principal ~~312~~296,~~781~~778.0587 ~~220~~211,~~271~~991.1532 7670,~~481~~998.8313 Unscheduled Principal 2217,~~770~~998,~~239~~662.9661 67,~~984~~194,~~288~~614.5681 65,~~616~~255,~~962~~062.7271 Scheduled Interest 2,~~336~~187,~~151~~337.7904 1,~~086~~037,~~188~~003.0383 ~~502~~462,~~381~~194.2331 Servicing Fees ~~155~~145,~~125~~507.8491 6966,~~131~~130.9808 3633,~~001~~212.5562 Master Servicing Fees 1,~~551~~455.2707 ~~691~~661.3328 ~~360~~332.0013 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 4,~~653~~365.7722 21,~~073~~983.9689 ~~1,080~~996.0539 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 2,~~174~~036,~~820~~008.9184 1968,~~014,290~~228.7658 ~~464~~427,~~939~~653.6317 Realized Loss Amount 0.00 ~~47,024~~0.8300 0.00 Cumulative Realized Loss 95,107.53 229,086.37 0.00 Percentage of Cumulative Losses 0.0167 0.0974 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 76.~~009861~~996214 7.~~335900~~320635 6.~~457217~~438114

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.~~431041~~438640 7.~~533236~~522475 Weighted Average Net Rate 6.~~931042~~938640 7.~~033236~~022474 Weighted Average Maturity ~~321~~320 ~~334~~333 Beginning Loan Count ~~236~~222 4,~~668~~415 Loans Paid In Full 1415 ~~253~~225 Ending Loan Count ~~222~~207 4,~~415~~190 Beginning Scheduled Balance 4138,~~458~~678,~~921~~281.9410 ~~666~~626,~~081~~319,~~421~~755.8877 Ending scheduled Balance 3836,~~678~~238,~~281~~132.1035 ~~626~~592,~~319~~851,~~755~~498.7757 Record Date 1011/3130/2004 1011/3130/2004 Principal And Interest Constant ~~303~~283,~~353~~663.4476 4,~~837~~549,~~608~~967.5226 Scheduled Principal 4643,~~617~~902.6424 ~~656~~623,~~151~~670.6756 Unscheduled Principal 2,~~734~~396,~~023~~246.2051 3932,~~105~~844,~~514~~586.4464 Scheduled Interest ~~256~~239,~~735~~761.8052 43,~~181~~926,~~456~~296.8570 Servicing Fees 1716,~~274~~115.5495 ~~277~~260,~~533~~966.9156 Master Servicing Fees ~~172~~161.7615 2,~~775~~609.3663 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee ~~518~~483.2447 87,~~326~~828.0297 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 ~~238~~223,~~770~~000.2695 3,~~892~~654,~~821~~891.5654 Realized Loss Amount 0.00 ~~47,024~~0.8300 Cumulative Realized Loss 101,678.62 425,872.52 Percentage of Cumulative Losses 0.1818 0.0429 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.~~911041~~918640 7.~~013236~~002473

Filing Compare · ACE SECURITIES CORP HOME EQUITY LOAN TRUST SERIES 2004 FM1