8-K 1 abf04op4_dec.txt DECEMBER 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 27, 2004 ASSET BACKED FUNDING CORPORATION Asset Backed Certificates, Series 2004 OPT-4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-108551-07 54-2155107 Pooling and Servicing Agreement) (Commission 54-2155108 (State or other File Number) 54-6621650 jurisdiction 54-6621651 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 ASSET BACKED FUNDING CORPORATION, Asset Backed Certificates, Series 2004 OPT-4 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 OPT-4 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. ASSET BACKED FUNDING CORPORATION Asset Backed Certificates, Series 2004 OPT-4 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: 12/30/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004 OPT-4 Trust, relating to the December 27, 2004 distribution. EX-99.1

Asset Backed Funding Corporation ~~Mortgage~~Asset ~~Pass-Through~~Backed Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~ABFC~~Asset Backed Funding Corporation Asset Backed Certificates Series: 2004 OPT-~~OP4~~4 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 04542BHB1 SEN 2.~~24250~~49000% ~~534~~516,~~515~~497,~~321~~323.7159 1,~~065~~107,~~467~~456.2134 1821,~~017~~623,~~998~~424.1229 A-2 04542BHC9 SEN 2.~~24250~~49000% 9088,~~158~~135,~~246~~059.3661 ~~179~~188,~~715~~976.4426 23,~~023~~672,~~186~~809.7594 M-1 04542BHD7 SUB 2.~~53250~~78000% 42,905,000.00 96102,~~583~~709.9280 0.00 M-2 04542BHE5 SUB 3.~~11250~~36000% 30,309,000.00 8387,~~854~~694.9004 0.00 M-3 04542BHF2 SUB 3.~~38250~~63000% 5,117,000.00 15,~~385~~994.1189 0.00 M-4 04542BHG0 SUB 3.~~73250~~98000% 7,872,000.00 26,~~117~~979.5509 0.00 M-5 04542BHH8 SUB 34.~~93250~~18000% 5,511,000.00 19,~~264~~836.0154 0.00 M-6 04542BHJ4 SUB 5.~~43250~~68000% 7,872,000.00 38,~~013~~502.0183 0.00 M-7 04542BHK1 SUB 5.~~43250~~68000% 6,692,000.00 32,~~314~~731.9232 0.00 CE ABF04OP4C SEN 0.00000% 3,936,776.66 21,~~126~~961,~~987~~981.5492 0.00 R1 ABF4OP4R1 SEN 0.00000% 0.00 0.00 0.00 R2 ABF4OP4R2 SEN 0.00000% 0.00 0.00 0.00 P ABF04OP4P SEN 0.00000% 0.00 ~~322~~385,~~669~~156.9176 0.00 Totals ~~734~~714,~~888~~847,~~344~~159.7386 43,~~006~~968,~~373~~019.5279 2025,~~041~~296,~~184~~234.8723

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~516~~494,~~497~~873,~~323~~899.5930 1922,~~083~~730,~~465~~880.3363 0.00 A-2 0.00 8884,~~135~~462,~~059~~249.6167 23,~~202~~861,~~902~~786.1920 0.00 M-1 0.00 42,905,000.00 96102,~~583~~709.9280 0.00 M-2 0.00 30,309,000.00 8387,~~854~~694.9004 0.00 M-3 0.00 5,117,000.00 15,~~385~~994.1189 0.00 M-4 0.00 7,872,000.00 26,~~117~~979.5509 0.00 M-5 0.00 5,511,000.00 19,~~264~~836.0154 0.00 M-6 0.00 7,872,000.00 38,~~013~~502.0183 0.00 M-7 0.00 6,692,000.00 32,~~314~~731.9232 0.00 CE 0.00 3,936,776.66 21,~~126~~961,~~987~~981.5492 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 P 0.00 0.00 ~~322~~385,~~669~~156.9176 0.00 Totals 0.00 ~~714~~689,~~847~~550,~~159~~925.8663 2429,~~047~~264,~~558~~254.3902 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-1 578,603,000.00 ~~534~~516,~~515~~497,~~321~~323.7159 0.00 1821,~~017~~623,~~998~~424.1229 0.00 0.00 A-2 98,426,000.00 9088,~~158~~135,~~246~~059.3661 0.00 23,~~023~~672,~~186~~809.7594 0.00 0.00 M-1 42,905,000.00 42,905,000.00 0.00 0.00 0.00 0.00 M-2 30,309,000.00 30,309,000.00 0.00 0.00 0.00 0.00 M-3 5,117,000.00 5,117,000.00 0.00 0.00 0.00 0.00 M-4 7,872,000.00 7,872,000.00 0.00 0.00 0.00 0.00 M-5 5,511,000.00 5,511,000.00 0.00 0.00 0.00 0.00 M-6 7,872,000.00 7,872,000.00 0.00 0.00 0.00 0.00 M-7 6,692,000.00 6,692,000.00 0.00 0.00 0.00 0.00 CE 3,936,776.66 3,936,776.66 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 Totals 787,243,776.66 ~~734~~714,~~888~~847,~~344~~159.7386 0.00 2025,~~041~~296,~~184~~234.8723 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 1821,~~017~~623,~~998~~424.1229 ~~516~~494,~~497~~873,~~323~~899.5930 0.~~89266271~~85529093 1821,~~017~~623,~~998~~424.1229 A-2 23,~~023~~672,~~186~~809.7594 8884,~~135~~462,~~059~~249.6167 0.~~89544490~~85812945 23,~~023~~672,~~186~~809.7594 M-1 0.00 42,905,000.00 1.00000000 0.00 M-2 0.00 30,309,000.00 1.00000000 0.00 M-3 0.00 5,117,000.00 1.00000000 0.00 M-4 0.00 7,872,000.00 1.00000000 0.00 M-5 0.00 5,511,000.00 1.00000000 0.00 M-6 0.00 7,872,000.00 1.00000000 0.00 M-7 0.00 6,692,000.00 1.00000000 0.00 CE 0.00 3,936,776.66 1.00000000 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 P 0.00 0.00 0.00000000 0.00 Totals 2025,~~041~~296,~~184~~234.8723 ~~714~~689,~~847~~550,~~159~~925.8663 0.~~90803787~~87590521 2025,~~041~~296,~~184~~234.8723

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 578,603,000.00 ~~923~~892.~~80323246~~66271276 0.00000000 3137.~~14051970~~37178046 0.00000000 A-2 98,426,000.00 ~~916~~895.~~00030846~~44489881 0.00000000 2037.~~55540965~~31544450 0.00000000 M-1 42,905,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 30,309,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 5,117,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 7,872,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 5,511,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 7,872,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 6,692,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 3,936,776.66 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 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 3137.~~14051970~~37178046 ~~892~~855.~~66271276~~29093230 0.~~89266271~~85529093 3137.~~14051970~~37178046 A-2 0.00000000 2037.~~55540965~~31544450 ~~895~~858.~~44489881~~12945431 0.~~89544490~~85812945 2037.~~55540965~~31544450 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 CE 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 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-1 578,603,000.00 2.~~24250~~49000% ~~534~~516,~~515~~497,~~321~~323.7159 1,~~065~~107,~~467~~456.2134 0.00 0.00 A-2 98,426,000.00 2.~~24250~~49000% 9088,~~158~~135,~~246~~059.3661 ~~179~~188,~~715~~976.4426 0.00 0.00 M-1 42,905,000.00 2.~~53250~~78000% 42,905,000.00 96102,~~583~~709.9280 0.00 0.00 M-2 30,309,000.00 3.~~11250~~36000% 30,309,000.00 8387,~~854~~694.9004 0.00 0.00 M-3 5,117,000.00 3.~~38250~~63000% 5,117,000.00 15,~~385~~994.1189 0.00 0.00 M-4 7,872,000.00 3.~~73250~~98000% 7,872,000.00 26,~~117~~979.5509 0.00 0.00 M-5 5,511,000.00 34.~~93250~~18000% 5,511,000.00 19,~~264~~836.0154 0.00 0.00 M-6 7,872,000.00 5.~~43250~~68000% 7,872,000.00 38,~~013~~502.0183 0.00 0.00 M-7 6,692,000.00 5.~~43250~~68000% 6,692,000.00 32,~~314~~731.9232 0.00 0.00 CE 3,936,776.66 0.00000% 3,936,776.66 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2 0.00 0.00000% 0.00 0.00 0.00 0.00 P 0.00 0.00000% 0.01 0.00 0.00 0.00 Totals 787,243,776.66 1,~~556~~620,~~716~~881.0711 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,~~065~~107,~~467~~456.2134 0.00 ~~516~~494,~~497~~873,~~323~~899.5930 A-2 0.00 0.00 ~~179~~188,~~715~~976.4426 0.00 8884,~~135~~462,~~059~~249.6167 M-1 0.00 0.00 96102,~~583~~709.9280 0.00 42,905,000.00 M-2 0.00 0.00 8387,~~854~~694.9004 0.00 30,309,000.00 M-3 0.00 0.00 15,~~385~~994.1189 0.00 5,117,000.00 M-4 0.00 0.00 26,~~117~~979.5509 0.00 7,872,000.00 M-5 0.00 0.00 19,~~264~~836.0154 0.00 5,511,000.00 M-6 0.00 0.00 38,~~013~~502.0183 0.00 7,872,000.00 M-7 0.00 0.00 32,~~314~~731.9232 0.00 6,692,000.00 CE 0.00 0.00 21,~~126~~961,~~987~~981.5492 0.00 3,936,776.66 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 ~~322~~385,~~669~~156.9176 0.00 0.01 Totals 0.00 0.00 43,~~006~~968,~~373~~019.5279 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-1 578,603,000.00 2.~~24250~~49000% ~~923~~892.~~80323246~~66271276 1.~~84144778~~91401763 0.00000000 0.00000000 A-2 98,426,000.00 2.~~24250~~49000% ~~916~~895.~~00030846~~44489881 1.~~82589397~~91998313 0.00000000 0.00000000 M-1 42,905,000.00 2.~~53250~~78000% 1000.00000000 2.~~25111106~~39388882 0.00000000 0.00000000 M-2 30,309,000.00 3.~~11250~~36000% 1000.00000000 2.~~76666667~~89333333 0.00000000 0.00000000 M-3 5,117,000.00 3.~~38250~~63000% 1000.00000000 3.~~00666602~~12583350 0.00000000 0.00000000 M-4 7,872,000.00 3.~~73250~~98000% 1000.00000000 3.~~31777820~~42722180 0.00000000 0.00000000 M-5 5,511,000.00 34.~~93250~~18000% 1000.00000000 3.~~49555616~~59944475 0.00000000 0.00000000 M-6 7,872,000.00 5.~~43250~~68000% 1000.00000000 4.~~82888847~~89111153 0.00000000 0.00000000 M-7 6,692,000.00 5.~~43250~~68000% 1000.00000000 4.~~82888822~~89111178 0.00000000 0.00000000 CE 3,936,776.66 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 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.~~84144778~~91401763 0.00000000 ~~892~~855.~~66271276~~29093230 A-2 0.00000000 0.00000000 1.~~82589397~~91998313 0.00000000 ~~895~~858.~~44489881~~12945431 M-1 0.00000000 0.00000000 2.~~25111106~~39388882 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~76666667~~89333333 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~00666602~~12583350 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~31777820~~42722180 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.~~49555616~~59944475 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 4.~~82888847~~89111153 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 4.~~82888822~~89111178 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~540~~498.~~28656530~~37267629 0.00000000 1000.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 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 2429,~~374~~510,~~914~~421.5330 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~322~~385,~~669~~156.9176 Total Deposits 2429,~~697~~895,~~584~~578.4406 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~650~~631,~~026~~324.0504 Payment of Interest and Principal 2429,~~047~~264,~~558~~254.3902 Total Withdrawals (Pool Distribution Amount) 2429,~~697~~895,~~584~~578.4406 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~183~~178,~~722~~711.0980 Credit Risk Manager Fee 98,~~186~~935.1060 PMI Premium ~~451~~438,~~912~~613.4013 Trustee 5,~~205~~063.4651 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~650~~631,~~026~~324.0504

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 79 10 0 89 ~~681~~943,~~759~~241.5791 ~~211,340~~0.7200 0.00 ~~893~~943,~~100~~241.2991 30 Days 7578 03 0 0 7581 1112,~~485~~727,~~814~~168.4546 0331,796.0073 0.00 0.00 1113,~~485~~058,~~814~~965.4519 60 Days 2518 10 913 0 3531 3,~~951~~794,~~452~~888.4402 ~~137,072~~0.1200 1,~~054~~407,~~533~~064.7773 0.00 5,~~143~~201,~~058~~952.3375 90 Days 618 43 2431 0 3452 13,~~080~~102,~~842~~811.9008 ~~841~~407,~~623~~226.5932 34,~~634~~609,~~676~~227.6110 0.00 58,~~557~~119,~~143~~264.1050 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 ~~106~~114 1215 3444 0 ~~152~~173 1619,~~518~~624,~~109~~867.7956 1,~~660~~682,~~455~~264.2896 46,~~900~~016,~~551~~291.1083 0.00 2327,~~079~~323,~~116~~424.1735 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.~~153240~~203206% 0.~~021891~~000000% 0.000000% 0.~~175131~~203206% 0.~~095340~~136740% 0.~~029555~~000000% 0.000000% 0.~~124894~~136740% 30 Days 1.~~641856~~761120% 0.~~000000~~067735% 0.000000% 0.000000% 1.~~641856~~828855% 1.~~606218~~845036% 0.~~000000~~048100% 0.000000% 0.000000% 1.~~606218~~893136% 60 Days 0.~~547285~~406412% 0.~~021891~~000000% 0.~~197023~~293520% 0.000000% 0.~~766200~~699932% 0.~~552585~~550139% 0.~~019169~~000000% 0.~~147470~~203980% 0.000000% 0.~~719224~~754118% 90 Days 0.~~131349~~406412% 0.~~087566~~067735% 0.~~525394~~699932% 0.000000% 01.~~744308~~174080% 0.~~151149~~449809% 0.~~117696~~059035% 0.~~508286~~668192% 0.000000% 01.~~777131~~177036% 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.~~320490~~573944% 0.~~262697~~338677% 0.~~744308~~993452% 0.000000% 3.~~327496~~906074% 2.~~309952~~844984% 0.~~232204~~243875% 0.~~685311~~872172% 0.000000% 3.~~227467~~961031%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~125~~81,~~483~~469.9504

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~076552~~074273% Weighted Average Net Coupon 6.~~776552~~774273% Weighted Average Pass-Through Rate 6.~~015125~~014482% Weighted Average Maturity (Stepdown Calculation ) ~~348~~347 Beginning Scheduled Collateral Loan Count 4,~~675~~568 Number Of Loans Paid In Full ~~107~~139 Ending Scheduled Collateral Loan Count 4,~~568~~429 Beginning Scheduled Collateral Balance ~~734~~714,~~888~~847,~~344~~159.7386 Ending Scheduled Collateral Balance ~~714~~689,~~847~~550,~~159~~925.8663 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~715~~689,~~084~~805,~~396~~843.2585 Monthly P &I Constant 4,~~991~~855,~~650~~005.3931 Special Servicing Fee 0.00 Prepayment Penalties ~~322~~385,~~669~~156.9176 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~657~~640,~~920~~818.6442 Unscheduled Principal 1924,~~383~~655,~~264~~415.2381 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 3,936,776.66 Overcollateralized Amount 3,936,776.66 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 21,~~126~~961,~~987~~981.5492

Group Level Collateral Statement Group 1 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~109211~~107066 6.~~883178~~882008 7.~~076552~~074273 Weighted Average Net Rate 6.~~809211~~807066 6.~~583177~~582007 6.~~776552~~774273 Weighted Average Maturity 88350 ~~(3)~~349 ~~348~~347 Beginning Loan Count 4,~~369~~268 ~~306~~300 4,~~675~~568 Loans Paid In Full ~~101~~127 612 ~~107~~139 Ending Loan Count 4,~~268~~141 ~~300~~288 4,~~568~~429 Beginning Scheduled Balance ~~628~~610,~~707~~689,~~340~~342.5543 ~~106~~104,~~181~~157,~~004~~817.1843 ~~734~~714,~~888~~847,~~344~~159.7386 Ending scheduled Balance ~~610~~589,~~689~~065,~~342~~918.4314 ~~104~~100,~~157~~485,~~817~~007.4349 ~~714~~689,~~847~~550,~~159~~925.8663 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 4,~~281~~158,~~020~~501.8849 ~~710~~696,~~629~~503.5182 4,~~991~~855,~~650~~005.3931 Scheduled Principal ~~556~~541,~~343~~660.4241 ~~101~~99,~~577~~158.2201 ~~657~~640,~~920~~818.6442 Unscheduled Principal 1721,~~461~~081,~~654~~763.7088 13,~~921~~573,~~609~~651.5393 1924,~~383~~655,~~264~~415.2381 Scheduled Interest 3,~~724~~616,~~677~~841.4608 ~~609~~597,~~052~~345.2981 4,~~333~~214,~~729~~186.7589 Servicing Fees ~~157~~152,~~176~~672.8434 26,~~545~~039.2546 ~~183~~178,~~722~~711.0980 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 4,~~453~~325.3472 ~~752~~737.1279 5,~~205~~063.4651 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 7,~~858~~633.8462 1,~~327~~301.2698 98,~~186~~935.1060 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 ~~393~~380,~~747~~710.2364 5857,~~165~~902.1749 ~~451~~438,~~912~~613.4013 Net Interest 3,~~161~~071,~~441~~498.2176 ~~522~~511,~~262~~364.4909 3,~~683~~582,~~703~~862.7085 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 6.~~034175~~035472 5.~~902327~~891413 6.~~015125~~014482

Miscellaneous Reporting Group 1 Group 1 Available Funds 2124,~~179~~694,~~439~~923.2422 Group 2 Group 2 Available Funds 24,~~545~~184,~~449~~174.2404

Filing Compare · Asset-Backed Funding Corp. ABFC Asset Backed Certificates, Series 2004-OPT4