8-K 1 abs04he3_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 SECURITIES CORP HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2004-HE3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-109307-07 54-2155109 Pooling and Servicing Agreement) (Commission 54-2155110 (State or other File Number) 54-2155111 jurisdiction 54-2155112 of Incorporation) 54-2155113 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 SECURITIES CORP HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates , Series 2004-HE3 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-HE3 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 SECURITIES CORP HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2004-HE3 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 Pass-Through Certificates, Series 2004-HE3 Trust, relating to the December 27, 2004 distribution. EX-99.1

Asset Backed Securities Corp Home Equity Loan Trust ~~Mortgage~~Asset Backed Pass-Through Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~ABSC~~Asset Backed Securities Corp Home Equity Loan Trust Asset Backed Pass-Through Certificates Series: 2004-HE3 Contact: Customer Service - SecuritiesLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 846-8130 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution R 04541GJL7 RES 0.00000% 0.00 0.00 0.00 B-IO 04541GJH6 SUB-IO 0.00000% 0.00 0.00 0.00 A1 04541GJM5 SEN 2.~~15250~~40000% ~~185~~176,~~521~~961,~~833~~380.3051 ~~354~~365,~~965~~720.1119 8,~~560~~920,~~452~~865.7936 A1A 04541GJN3 SEN 2.~~31250~~56000% 23,700,000.00 4852,~~716~~245.6733 0.00 A2 04541GJP8 SEN 2.~~17250~~42000% ~~172~~164,~~327~~605,~~736~~255.6235 ~~332~~343,~~784~~019.0106 78,~~722~~112,~~481~~628.2732 A2A 04541GJQ6 SEN 2.~~22250~~47000% 1918,~~147~~289,~~526~~472.2982 3738,~~827~~900.0069 ~~858~~901,~~053~~403.4715 A3 04541GJR4 SEN 2.~~08250~~33000% 8884,~~064~~553,~~872~~750.9137 ~~163~~169,~~017~~647.8671 35,~~511~~653,~~122~~069.5482 A3A 04541GJS2 SEN 2.~~33250~~58000% 41,350,000.00 8591,~~732~~865.3392 0.00 M1 04541GJT0 MEZ 2.~~47250~~72000% 50,100,000.00 ~~110~~117,~~108~~345.6733 0.00 M2 04541GJU7 MEZ 3.~~05250~~30000% 40,300,000.00 ~~109~~114,~~347~~519.3317 0.00 M3 04541GJV5 MEZ 3.~~33250~~58000% 10,900,000.00 3233,~~288~~602.2228 0.00 M4 04541GJW3 MEZ 3.~~53250~~78000% 9,450,000.00 2930,~~673~~759.0075 0.00 M5 04541GJX1 MEZ 3.~~63250~~88000% 10,550,000.00 3435,~~064~~248.7872 0.00 M6 04541GJY9 MEZ 4.~~68250~~93000% 7,910,000.00 3233,~~923~~580.1815 0.00 M7 04541GJZ6 MEZ 5.~~68250~~93000% 7,911,000.00 3940,~~959~~396.3464 0.00 X 04541GJJ2 OC 0.00000% 13,558,888.61 2,~~431~~254,~~982~~739.0916 0.00 P 04541GJK9 SEN 0.00000% 100.00 ~~331~~326,~~654~~437.82 0.00 Totals ~~680~~660,~~791~~139,~~957~~847.7366 4,~~175~~048,~~044~~027.4192 2023,~~652~~587,~~110~~966.0765

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses R 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 A1 0.00 ~~176~~168,~~961~~040,~~380~~515.5115 89,~~915~~286,~~417~~585.9055 0.00 A1A 0.00 23,700,000.00 4852,~~716~~245.6733 0.00 A2 0.00 ~~164~~156,~~605~~492,~~255~~627.3503 8,~~055~~455,~~265~~647.2838 0.00 A2A 0.00 1817,~~289~~388,~~472~~069.8267 ~~895~~940,~~880~~303.4784 0.00 A3 0.00 8478,~~553~~900,~~750~~680.3755 35,~~674~~822,~~140~~717.4053 0.00 A3A 0.00 41,350,000.00 8591,~~732~~865.3392 0.00 M1 0.00 50,100,000.00 ~~110~~117,~~108~~345.6733 0.00 M2 0.00 40,300,000.00 ~~109~~114,~~347~~519.3317 0.00 M3 0.00 10,900,000.00 3233,~~288~~602.2228 0.00 M4 0.00 9,450,000.00 2930,~~673~~759.0075 0.00 M5 0.00 10,550,000.00 3435,~~064~~248.7872 0.00 M6 0.00 7,910,000.00 3233,~~923~~580.1815 0.00 M7 0.00 7,911,000.00 3940,~~959~~396.3464 0.00 X 0.00 13,558,888.61 2,~~431~~254,~~982~~739.0916 0.00 P 0.00 100.00 ~~331~~326,~~654~~437.82 0.00 Totals 0.00 ~~660~~636,~~139~~551,~~847~~881.6601 2427,~~827~~635,~~154~~994.4857 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) B-IO 0.00 0.00 0.00 0.00 0.00 0.00 A1 213,300,000.00 ~~185~~176,~~521~~961,~~833~~380.3051 0.00 8,~~560~~920,~~452~~865.7936 0.00 0.00 A1A 23,700,000.00 23,700,000.00 0.00 0.00 0.00 0.00 A2 198,000,000.00 ~~172~~164,~~327~~605,~~736~~255.6235 0.00 78,~~722~~112,~~481~~628.2732 0.00 0.00 A2A 22,000,000.00 1918,~~147~~289,~~526~~472.2982 0.00 ~~858~~901,~~053~~403.4715 0.00 0.00 A3 104,250,000.00 8884,~~064~~553,~~872~~750.9137 0.00 35,~~511~~653,~~122~~069.5482 0.00 0.00 A3A 41,350,000.00 41,350,000.00 0.00 0.00 0.00 0.00 M1 50,100,000.00 50,100,000.00 0.00 0.00 0.00 0.00 M2 40,300,000.00 40,300,000.00 0.00 0.00 0.00 0.00 M3 10,900,000.00 10,900,000.00 0.00 0.00 0.00 0.00 M4 9,450,000.00 9,450,000.00 0.00 0.00 0.00 0.00 M5 10,550,000.00 10,550,000.00 0.00 0.00 0.00 0.00 M6 7,910,000.00 7,910,000.00 0.00 0.00 0.00 0.00 M7 7,911,000.00 7,911,000.00 0.00 0.00 0.00 0.00 X 13,550,489.29 13,558,888.61 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 753,271,589.29 ~~680~~660,~~791~~139,~~957~~847.7366 0.00 2023,~~652~~587,~~110~~966.0765 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 B-IO 0.00 0.00 0.00000000 0.00 A1 8,~~560~~920,~~452~~865.7936 ~~176~~168,~~961~~040,~~380~~515.5115 0.~~82963610~~78781301 8,~~560~~920,~~452~~865.7936 A1A 0.00 23,700,000.00 1.00000000 0.00 A2 78,~~722~~112,~~481~~628.2732 ~~164~~156,~~605~~492,~~255~~627.3503 0.~~83133967~~79036680 78,~~722~~112,~~481~~628.2732 A2A ~~858~~901,~~053~~403.4715 1817,~~289~~388,~~472~~069.8267 0.~~83133967~~79036680 ~~858~~901,~~053~~403.4715 A3 35,~~511~~653,~~122~~069.5482 8478,~~553~~900,~~750~~680.3755 0.~~81106715~~75684106 35,~~511~~653,~~122~~069.5482 A3A 0.00 41,350,000.00 1.00000000 0.00 M1 0.00 50,100,000.00 1.00000000 0.00 M2 0.00 40,300,000.00 1.00000000 0.00 M3 0.00 10,900,000.00 1.00000000 0.00 M4 0.00 9,450,000.00 1.00000000 0.00 M5 0.00 10,550,000.00 1.00000000 0.00 M6 0.00 7,910,000.00 1.00000000 0.00 M7 0.00 7,911,000.00 1.00000000 0.00 X 0.00 13,558,888.61 1.00061985 0.00 P 0.00 100.00 1.00000000 0.00 Totals 2023,~~652~~587,~~110~~966.0765 ~~660~~636,~~139~~551,~~847~~881.6601 0.~~87636366~~84504963 2023,~~652~~587,~~110~~966.0765

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A1 213,300,000.00 ~~869~~829.~~76949508~~63610178 0.00000000 4041.~~13339330~~82309123 0.00000000 A1A 23,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A2 198,000,000.00 ~~870~~831.~~34210414~~33967348 0.00000000 3940.~~00243066~~97287030 0.00000000 A2A 22,000,000.00 ~~870~~831.~~34210409~~33967364 0.00000000 3940.~~00243045~~97287045 0.00000000 A3 104,250,000.00 ~~844~~811.~~74698235~~06714983 0.00000000 3354.~~67983252~~22608940 0.00000000 A3A 41,350,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 50,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 40,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 10,900,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 9,450,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 10,550,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 7,910,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 7,911,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 13,550,489.29 1000.61985363 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 4041.~~13339330~~82309123 ~~829~~787.~~63610178~~81301055 0.~~82963610~~78781301 4041.~~13339330~~82309123 A1A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A2 0.00000000 3940.~~00243066~~97287030 ~~831~~790.~~33967348~~36680318 0.~~83133967~~79036680 3940.~~00243066~~97287030 A2A 0.00000000 3940.~~00243045~~97287045 ~~831~~790.~~33967364~~36680318 0.~~83133967~~79036680 3940.~~00243045~~97287045 A3 0.00000000 3354.~~67983252~~22608940 ~~811~~756.~~06714983~~84106043 0.~~81106715~~75684106 3354.~~67983252~~22608940 A3A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.61985363 1.00061985 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 R 0.00 0.00000% 0.00 0.00 0.00 0.00 B-IO 0.00 0.00000% 0.00 0.00 0.00 0.00 A1 213,300,000.00 2.~~15250~~40000% ~~185~~176,~~521~~961,~~833~~380.3051 ~~354~~365,~~965~~720.1119 0.00 0.00 A1A 23,700,000.00 2.~~31250~~56000% 23,700,000.00 4852,~~716~~245.6733 0.00 0.00 A2 198,000,000.00 2.~~17250~~42000% ~~172~~164,~~327~~605,~~736~~255.6235 ~~332~~343,~~784~~019.0106 0.00 0.00 A2A 22,000,000.00 2.~~22250~~47000% 1918,~~147~~289,~~526~~472.2982 3738,~~827~~900.0069 0.00 0.00 A3 104,250,000.00 2.~~08250~~33000% 8884,~~064~~553,~~872~~750.9137 ~~163~~169,~~017~~647.8671 0.00 0.00 A3A 41,350,000.00 2.~~33250~~58000% 41,350,000.00 8591,~~732~~865.3392 0.00 0.00 M1 50,100,000.00 2.~~47250~~72000% 50,100,000.00 ~~110~~117,~~108~~345.6733 0.00 0.00 M2 40,300,000.00 3.~~05250~~30000% 40,300,000.00 ~~109~~114,~~347~~519.3317 0.00 0.00 M3 10,900,000.00 3.~~33250~~58000% 10,900,000.00 3233,~~288~~602.2228 0.00 0.00 M4 9,450,000.00 3.~~53250~~78000% 9,450,000.00 2930,~~673~~759.0075 0.00 0.00 M5 10,550,000.00 3.~~63250~~88000% 10,550,000.00 3435,~~064~~248.7872 0.00 0.00 M6 7,910,000.00 4.~~68250~~93000% 7,910,000.00 3233,~~923~~580.1815 0.00 0.00 M7 7,911,000.00 5.~~68250~~93000% 7,911,000.00 3940,~~959~~396.3464 0.00 0.00 X 13,550,489.29 0.00000% 13,558,888.61 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 753,271,589.29 1,~~411~~466,~~407~~850.5094 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 R 0.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 A1 0.00 0.00 ~~354~~365,~~965~~720.1119 0.00 ~~176~~168,~~961~~040,~~380~~515.5115 A1A 0.00 0.00 4852,~~716~~245.6733 0.00 23,700,000.00 A2 0.00 0.00 ~~332~~343,~~784~~019.0106 0.00 ~~164~~156,~~605~~492,~~255~~627.3503 A2A 0.00 0.00 3738,~~827~~900.0069 0.00 1817,~~289~~388,~~472~~069.8267 A3 0.00 0.00 ~~163~~169,~~017~~647.8671 0.00 8478,~~553~~900,~~750~~680.3755 A3A 0.00 0.00 8591,~~732~~865.3392 0.00 41,350,000.00 M1 0.00 0.00 ~~110~~117,~~108~~345.6733 0.00 50,100,000.00 M2 0.00 0.00 ~~109~~114,~~347~~519.3317 0.00 40,300,000.00 M3 0.00 0.00 3233,~~288~~602.2228 0.00 10,900,000.00 M4 0.00 0.00 2930,~~673~~759.0075 0.00 9,450,000.00 M5 0.00 0.00 3435,~~064~~248.7872 0.00 10,550,000.00 M6 0.00 0.00 3233,~~923~~580.1815 0.00 7,910,000.00 M7 0.00 0.00 3940,~~959~~396.3464 0.00 7,911,000.00 X 0.00 0.00 2,~~431~~254,~~982~~739.0916 0.00 13,558,888.61 P 0.00 0.00 ~~331~~326,~~654~~437.82 0.00 100.00 Totals 0.00 0.00 4,~~175~~048,~~044~~027.4192 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 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 A1 213,300,000.00 2.~~15250~~40000% ~~869~~829.~~76949508~~63610178 1.~~66415898~~71458129 0.00000000 0.00000000 A1A 23,700,000.00 2.~~31250~~56000% 1000.00000000 2.~~05555570~~20444430 0.00000000 0.00000000 A2 198,000,000.00 2.~~17250~~42000% ~~870~~831.~~34210414~~33967348 1.~~68072732~~73241949 0.00000000 0.00000000 A2A 22,000,000.00 2.~~22250~~47000% ~~870~~831.~~34210409~~33967364 1.~~71940909~~76821318 0.00000000 0.00000000 A3 104,250,000.00 2.~~08250~~33000% ~~844~~811.~~74698235~~06714983 1.~~56372048~~62731616 0.00000000 0.00000000 A3A 41,350,000.00 2.~~33250~~58000% 1000.00000000 2.~~07333325~~22166675 0.00000000 0.00000000 M1 50,100,000.00 2.~~47250~~72000% 1000.00000000 2.~~19777784~~34222216 0.00000000 0.00000000 M2 40,300,000.00 3.~~05250~~30000% 1000.00000000 2.~~71333325~~84166675 0.00000000 0.00000000 M3 10,900,000.00 3.~~33250~~58000% 1000.00000000 23.~~96222202~~08277798 0.00000000 0.00000000 M4 9,450,000.00 3.~~53250~~78000% 1000.00000000 3.~~14000000~~25500000 0.00000000 0.00000000 M5 10,550,000.00 3.~~63250~~88000% 1000.00000000 3.~~22888910~~34111090 0.00000000 0.00000000 M6 7,910,000.00 4.~~68250~~93000% 1000.00000000 4.~~16222250~~24527813 0.00000000 0.00000000 M7 7,911,000.00 5.~~68250~~93000% 1000.00000000 5.~~05111111~~10638857 0.00000000 0.00000000 X 13,550,489.29 0.00000% 1000.61985363 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 0.00000000 1.~~66415898~~71458129 0.00000000 ~~829~~787.~~63610178~~81301055 A1A 0.00000000 0.00000000 2.~~05555570~~20444430 0.00000000 1000.00000000 A2 0.00000000 0.00000000 1.~~68072732~~73241949 0.00000000 ~~831~~790.~~33967348~~36680318 A2A 0.00000000 0.00000000 1.~~71940909~~76821318 0.00000000 ~~831~~790.~~33967364~~36680318 A3 0.00000000 0.00000000 1.~~56372048~~62731616 0.00000000 ~~811~~756.~~06714983~~84106043 A3A 0.00000000 0.00000000 2.~~07333325~~22166675 0.00000000 1000.00000000 M1 0.00000000 0.00000000 2.~~19777784~~34222216 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~71333325~~84166675 0.00000000 1000.00000000 M3 0.00000000 0.00000000 23.~~96222202~~08277798 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.~~14000000~~25500000 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.~~22888910~~34111090 0.00000000 1000.00000000 M6 0.00000000 0.00000000 4.~~16222250~~24527813 0.00000000 1000.00000000 M7 0.00000000 0.00000000 5.~~05111111~~10638857 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~179~~166.~~47559221~~39540549 0.00000000 1000.61985363 P 0.00000000 0.00000000 ~~3316548~~3264378.20000000 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 2527,~~006~~467,~~104~~701.6440 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~111~~143,~~948~~450.9243 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0326,437.0082 Total Deposits 2527,~~118~~937,~~053~~589.5665 Withdrawals Reimbursement for Servicer Advances 95111,~~750~~948.1492 Payment of Service Fee ~~195~~189,~~148~~646.9416 Payment of Interest and Principal 2427,~~827~~635,~~154~~994.4857 Total Withdrawals (Pool Distribution Amount) 2527,~~118~~937,~~053~~589.5665 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~170~~165,~~197~~034.9896 Strip Amount 24,~~950~~611.9620 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~195~~189,~~148~~646.9416

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 97 10 0 107 1,~~364~~053,~~848~~350.4583 ~~147,672~~0.2400 0.00 1,~~512~~053,~~520~~350.6983 30 Days 7492 02 0 0 7494 1113,~~858~~506,~~298~~376.9327 0291,376.0070 0.00 0.00 1113,~~858~~797,~~298~~752.9397 60 Days 1823 01 149 0 3233 23,~~951~~977,~~849~~186.9137 080,821.0062 1,~~518~~233,~~388~~146.7074 0.00 45,~~470~~291,~~238~~154.6173 90 Days 1216 21 2641 2 4260 12,~~936~~837,~~655~~554.0215 ~~140~~59,~~244~~351.9104 24,~~957~~310,~~626~~173.3070 204,203.26 57,~~238~~411,~~729~~282.4915 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 ~~104~~131 11 4150 2 ~~158~~194 1620,~~746~~321,~~803~~116.8679 1,~~505~~484,~~093~~900.3619 45,~~623~~543,~~687~~320.2444 204,203.26 2327,~~079~~553,~~787~~540.7268 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.~~214337~~171990% 0.~~023815~~000000% 0.000000% 0.~~238152~~171990% 0.~~206676~~165410% 0.~~022362~~000000% 0.000000% 0.~~229037~~165410% 30 Days 12.~~762324~~260442% 0.~~000000~~049140% 0.000000% 0.000000% 12.~~762324~~309582% 12.~~795674~~120932% 0.~~000000~~045755% 0.000000% 0.000000% 12.~~795674~~166688% 60 Days 0.~~428673~~565111% 0.~~000000~~024570% 0.~~333413~~221130% 0.000000% 0.~~762086~~810811% 0.~~446992~~624545% 0.~~000000~~012692% 0.~~229926~~193643% 0.000000% 0.~~676918~~830880% 90 Days 0.~~285782~~393120% 0.~~047630~~024570% 01.~~619195~~007371% 0.~~047630~~049140% 1.~~000238~~474201% 0.~~293263~~445587% 0.~~021237~~009320% 0.~~447866~~676835% 0.~~030922~~032066% 01.~~793288~~163808% 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 23.~~476780~~218673% 0.~~261967~~270270% 01.~~976423~~228501% 0.~~047630~~049140% 34.~~762801~~766585% 23.~~535929~~191064% 0.~~227913~~233177% 0.~~700154~~870478% 0.~~030922~~032066% 34.~~494918~~326785%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 1 Fixed No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 47 0 0 0 47 ~~440~~629,~~116~~894.8819 0.00 0.00 0.00 ~~440~~629,~~116~~894.8819 60 Days 12 0 0 0 12 52422,~~895~~193.0580 0.00 0.00 0.00 52422,~~895~~193.0580 90 Days 21 0 34 0 5 ~~527~~212,~~463~~134.6234 0.00 ~~425~~477,~~030~~925.0106 0.00 ~~952~~690,~~493~~059.6340 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 710 0 34 0 1014 1,~~020~~264,~~475~~222.5533 0.00 ~~425~~477,~~030~~925.0106 0.00 1,~~445~~742,~~505~~147.5639 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~746269~~328273% 0.000000% 0.000000% 0.000000% 01.~~746269~~328273% 0.~~610520~~889749% 0.000000% 0.000000% 0.000000% 0.~~610520~~889749% 60 Days 0.~~186567~~379507% 0.000000% 0.000000% 0.000000% 0.~~186567~~379507% 0.~~073375~~596364% 0.000000% 0.000000% 0.000000% 0.~~073375~~596364% 90 Days 0.~~373134~~189753% 0.000000% 0.~~559701~~759013% 0.000000% 0.~~932836~~948767% 0.~~731686~~299648% 0.000000% 0.~~589592~~675087% 0.000000% 10.~~321278~~974735% 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 1.~~305970~~897533% 0.000000% 0.~~559701~~759013% 0.000000% 12.~~865672~~656546% 1.~~415581~~785761% 0.000000% 0.~~589592~~675087% 0.000000% 2.~~005173~~460848% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 1 ARM 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 3 1 0 40 ~~580~~1 78,~~220~~383.7099 ~~147,672~~0.2400 0.00 ~~727~~78,~~892~~383.9499 30 Days 3028 01 0 0 3029 4,~~502~~399,~~748~~438.1692 0161,369.0044 0.00 0.00 4,~~502~~560,~~748~~808.1636 60 Days 89 0 45 0 1214 1,~~624~~126,~~309~~301.2640 0.00 ~~468~~793,~~741~~523.2471 0.00 21,~~093~~919,~~050~~825.5011 90 Days 56 0 510 2 1218 ~~566~~1,~~111~~040,367.1567 0.00 ~~505~~1,~~687~~066,011.7387 204,203.26 12,~~276~~310,~~002~~582.1480 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 43 32 1015 2 5862 6,~~693~~566,~~168~~107.5799 ~~580~~239,~~220~~753.7043 1,~~122~~859,~~101~~535.2158 204,203.26 8,~~599~~869,~~693~~600.7426 0-29 Days 0.~~231660~~080064% 0.~~077220~~000000% 0.000000% 0.~~308880~~080064% 0.~~309738~~043617% 0.~~078832~~000000% 0.000000% 0.~~388570~~043617% 30 Days 2.~~316602~~241793% 0.~~000000~~080064% 0.000000% 0.000000% 2.~~316602~~321857% 2.~~403693~~448078% 0.~~000000~~089794% 0.000000% 0.000000% 2.~~403693~~537873% 60 Days 0.~~617761~~720576% 0.000000% 0.~~308880~~400320% 0.000000% 01.~~926641~~120897% 0.~~867102~~626733% 0.000000% 0.~~250227~~441558% 0.000000% 1.~~117329~~068291% 90 Days 0.~~386100~~480384% 0.000000% 0.~~386100~~800641% 0.~~154440~~160128% 01.~~926641~~441153% 0.~~302206~~578915% 0.000000% 0.~~269950~~593185% 0.~~109009~~113629% 01.~~681166~~285729% 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 3.~~320463~~442754% 0.~~231660~~160128% 01.~~772201~~200961% 0.~~154440~~160128% 4.~~478764~~963971% 3.~~573001~~653726% 0.~~309738~~133411% 01.~~599009~~034743% 0.~~109009~~113629% 4.~~590758~~935510% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 2 Fixed 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 0 0 1 273,~~706~~414.9836 0.00 0.00 273,~~706~~414.9836 30 Days 311 0 0 0 311 ~~241~~1,~~294~~468,782.4871 0.00 0.00 0.00 ~~241~~1,~~294~~468,782.4871 60 Days 21 0 01 0 2 ~~193~~50,~~864~~088.1768 0.00 058,135.0003 0.00 ~~193~~108,~~864~~223.1771 90 Days 1 0 12 0 23 52,049.10 0.00 49193,~~640~~396.0392 0.00 ~~101~~245,~~689~~446.1302 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 613 1 13 0 817 ~~487~~1,~~207~~570,920.7549 273,~~706~~414.9836 49251,~~640~~531.0395 0.00 ~~810~~2,~~554~~095,866.7680 0-29 Days 0.~~211416~~214592% 0.000000% 0.000000% 0.~~211416~~214592% 0.~~408959~~416501% 0.000000% 0.000000% 0.~~408959~~416501% 30 Days 02.~~634249~~360515% 0.000000% 0.000000% 0.000000% 02.~~634249~~360515% 02.~~360530~~237445% 0.000000% 0.000000% 0.000000% 02.~~360530~~237445% 60 Days 0.~~422833~~214592% 0.000000% 0.~~000000~~214592% 0.000000% 0.~~422833~~429185% 0.~~289662~~076302% 0.000000% 0.~~000000~~088559% 0.000000% 0.~~289662~~164861% 90 Days 0.~~211416~~214592% 0.000000% 0.~~211416~~429185% 0.000000% 0.~~422833~~643777% 0.~~077769~~079288% 0.000000% 0.~~074170~~294608% 0.000000% 0.~~151939~~373896% 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 12.~~268499~~789700% 0.~~211416~~214592% 0.~~211416~~643777% 0.000000% 13.~~691332~~648069% 02.~~727960~~393035% 0.~~408959~~416501% 0.~~074170~~383167% 0.000000% 13.~~211088~~192703% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 2 ARM 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 32 0 0 32 ~~293~~187,~~418~~939.0001 0.00 0.00 ~~293~~187,~~418~~939.0001 30 Days 2129 0 0 0 2129 3,~~140~~871,~~640~~307.9684 0.00 0.00 0.00 3,~~140~~871,~~640~~307.9684 60 Days 46 01 31 0 78 ~~715~~873,~~443~~817.24 080,821.0062 ~~437~~109,~~920~~550.1532 0.00 1,~~153~~064,~~363~~189.3918 90 Days 25 21 13 0 1719 ~~323~~841,~~340~~850.9837 ~~140~~59,~~244~~351.9104 1,~~707~~635,~~156~~147.3235 0.00 2,~~170~~536,~~742~~348.2176 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 2740 54 1614 0 4858 45,~~179~~586,~~425~~975.1845 ~~433~~328,~~662~~111.9167 21,~~145~~744,~~076~~697.4767 0.00 67,~~758~~659,~~164~~784.5679 0-29 Days 0.~~265487~~183655% 0.000000% 0.000000% 0.~~265487~~183655% 0.~~171964~~115370% 0.000000% 0.000000% 0.~~171964~~115370% 30 Days 12.~~858407~~662994% 0.000000% 0.000000% 0.000000% 12.~~858407~~662994% 12.~~840639~~376480% 0.000000% 0.000000% 0.000000% 12.~~840639~~376480% 60 Days 0.~~353982~~550964% 0.~~000000~~091827% 0.~~265487~~091827% 0.000000% 0.~~619469~~734619% 0.~~419301~~536410% 0.~~000000~~049614% 0.~~256652~~067250% 0.000000% 0.~~675953~~653274% 90 Days 0.~~176991~~459137% 0.~~176991~~091827% 1.~~150442~~193756% 0.000000% 1.~~504425~~744720% 0.~~189501~~516787% 0.~~082193~~036434% 1.~~000515~~003768% 0.000000% 1.~~272209~~556989% 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 23.~~389381~~673095% 0.~~442478~~367309% 1.~~415929~~285583% 0.000000% 45.~~247788~~325987% 23.~~449440~~429677% 0.~~254157~~201418% 1.~~257167~~071018% 0.000000% 34.~~960764~~702112% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 3 Fixed 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 0 0 1 62,477.65 0.00 0.00 62,477.65 30 Days 02 0 0 0 02 0626,142.0080 0.00 0.00 0.00 0626,142.0080 60 Days 0 0 10 0 10 0.00 0.00 ~~118,812~~0.4100 0.00 ~~118,812~~0.4100 90 Days 0 0 12 0 12 0.00 0.00 53172,~~988~~801.8425 0.00 53172,~~988~~801.8425 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 02 1 2 0 35 0626,142.0080 62,477.65 172,801.25 0.00 ~~235~~861,~~278~~421.9070 0-29 Days 0.~~602410~~617284% 0.000000% 0.000000% 0.~~602410~~617284% 0.~~185731~~187934% 0.000000% 0.000000% 0.~~185731~~187934% 30 Days 01.~~000000~~234568% 0.000000% 0.000000% 0.000000% 01.~~000000~~234568% 01.~~000000~~883447% 0.000000% 0.000000% 0.000000% 01.~~000000~~883447% 60 Days 0.000000% 0.000000% 0.~~602410~~000000% 0.000000% 0.~~602410~~000000% 0.000000% 0.000000% 0.~~353200~~000000% 0.000000% 0.~~353200~~000000% 90 Days 0.000000% 0.000000% 01.~~602410~~234568% 0.000000% 01.~~602410~~234568% 0.000000% 0.000000% 0.~~160496~~519789% 0.000000% 0.~~160496~~519789% 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 01.~~000000~~234568% 0.~~602410~~617284% 1.~~204819~~234568% 0.000000% 13.~~807229~~086420% 01.~~000000~~883447% 0.~~185731~~187934% 0.~~513696~~519789% 0.000000% 02.~~699427~~591170% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 3 ARM 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 12 0 0 12 ~~155~~451,~~025~~135.1282 0.00 0.00 ~~155~~451,~~025~~135.1282 30 Days 1615 01 0 0 16 32,~~533~~510,~~498~~809.4581 0130,007.0026 0.00 0.00 32,~~533~~640,~~498~~817.4507 60 Days 35 0 62 0 97 ~~365~~1,~~338~~504,785.1925 0.00 ~~492~~271,~~914~~937.9068 0.00 ~~858~~1,~~253~~776,722.0993 90 Days 23 0 310 0 513 ~~467~~691,~~690~~152.1767 0.00 ~~216~~764,~~123~~891.3725 0.00 ~~683~~1,~~813~~456,043.5492 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 2123 13 912 0 3138 4,~~366~~706,~~526~~747.8173 ~~155~~581,~~025~~143.1208 ~~709~~1,~~038~~036,828.2793 0.00 56,~~230~~324,~~590~~719.2074 0-29 Days 0.~~166945~~346620% 0.000000% 0.000000% 0.~~166945~~346620% 0.~~119460~~362306% 0.000000% 0.000000% 0.~~119460~~362306% 30 Days 2.~~671119~~599653% 0.~~000000~~173310% 0.000000% 0.000000% 2.~~671119~~772964% 2.~~722851~~016427% 0.~~000000~~104409% 0.000000% 0.000000% 2.~~722851~~120836% 60 Days 0.~~500835~~866551% 0.000000% 10.~~001669~~346620% 0.000000% 1.~~502504~~213172% 01.~~281523~~208491% 0.000000% 0.~~379831~~218393% 0.000000% 01.~~661355~~426883% 90 Days 0.~~333890~~519931% 0.000000% 01.~~500835~~733102% 0.000000% 02.~~834725~~253033% 0.~~360394~~555064% 0.000000% 0.~~166541~~614283% 0.000000% 01.~~526935~~169347% 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 3.~~505843~~986135% 0.~~166945~~519931% 12.~~502504~~079723% 0.000000% 56.~~175292~~585789% 3.~~364768~~779982% 0.~~119460~~466715% 0.~~546372~~832676% 0.000000% 45.~~030600~~079372%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~111~~143,~~948~~450.9243

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~118542~~109832% Weighted Average Net Coupon 6.~~818542~~809832% Weighted Average Pass-Through Rate 6.~~818542~~809832% Weighted Average Maturity(Stepdown Calculation ) ~~351~~350 Beginning Scheduled Collateral Loan Count 4,~~313~~199 Number Of Loans Paid In Full ~~114~~129 Ending Scheduled Collateral Loan Count 4,~~199~~070 Beginning Scheduled Collateral Balance ~~680~~660,~~791~~139,~~957~~847.7366 Ending Scheduled Collateral Balance ~~660~~636,~~139~~551,~~847~~881.6601 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~660~~636,~~381~~813,~~474~~211.0339 Monthly P &I Constant 4,~~640~~496,~~621~~980.0876 Special Servicing Fee 0.00 Prepayment Penalties 0326,437.0082 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~602~~585,~~082~~744.7046 Unscheduled Principal 2023,~~050~~002,~~027~~222.3719 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 13,558,888.61 Overcollateralized Amount 13,558,888.61 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00

Miscellaneous Reporting Credit Enhancement Percentage 2223.~~82545~~67127% Net WAC Rate 6.~~351152~~546865% Overcollateralized Amt 13,558,888.61 Overcollateralization Deficiency 0.00 Overcollateralization Increase 0.00 Overcollateralization Release 0.00 Overcollateralization Target 13,558,888.61 Net Monthly Excess Cash Amount ~~2431982~~2,254,739.0916 Payment under CAP Agreement 0.00 Has Stepdown Date Occurred NO In Trigger Event NO A1 PTR (excl CAP) for Next Distribution 2.~~40000~~63750 A1A PTR (excl CAP) for Next Distribution 2.~~56000~~79750 A2 PTR (excl CAP) for Next Distribution 2.~~42000~~65750 A2A PTR (excl CAP) for Next Distribution 2.~~47000~~70750 A3 PTR (excl CAP) for Next Distribution 2.~~33000~~56750 A3A PTR (excl CAP) for Next Distribution 2.~~58000~~81750 M1 PTR (excl CAP) for Next Distribution 2.~~72000~~95750 M2 PTR (excl CAP) for Next Distribution 3.~~30000~~53750 M3 PTR (excl CAP) for Next Distribution 3.~~58000~~81750 M4 PTR (excl CAP) for Next Distribution 34.~~78000~~01750 M5 PTR (excl CAP) for Next Distribution 34.~~88000~~11750 M6 PTR (excl CAP) for Next Distribution 45.~~93000~~16750 M7 PTR (excl CAP) for Next Distribution 56.~~93000~~16750

Group Level Collateral Statement Group Grp 1 Fixed Grp 1 ARM Grp 2 Fixed Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.~~282500~~273455 7.~~145782~~133520 7.~~146679~~134352 Weighted Average Net Rate 6.~~982500~~973455 6.~~845782~~833520 6.~~846679~~834352 Weighted Average Maturity ~~350~~349 349 350 ~~351~~ Beginning Loan Count ~~548~~536 1,~~335~~295 ~~483~~473 Loans Paid In Full 129 4046 107 Ending Loan Count ~~536~~527 1,~~295~~249 ~~473~~466 Beginning Scheduled Balance 7372,~~925~~069,~~956~~421.6525 ~~193~~187,~~959~~255,~~172~~255.8647 6866,~~575~~905,~~455~~650.9701 Ending scheduled Balance 7270,~~069~~771,~~421~~138.2559 ~~187~~179,~~255~~632,~~255~~672.4777 6665,~~905~~619,~~650~~499.0139 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant ~~525~~513,~~803~~150.9932 1,~~315~~268,~~708~~637.1431 ~~477~~466,~~761~~571.8361 Scheduled Principal 7776,~~165~~322.8724 ~~160~~155,~~716~~479.4872 6968,~~356~~797.1888 Unscheduled Principal 1,~~779~~221,~~369~~960.5342 67,~~543~~467,~~200~~102.9198 1,~~600~~217,~~449~~352.7874 Scheduled Interest ~~448~~436,~~638~~828.1208 1,~~154~~113,~~991~~157.6659 ~~408~~397,~~405~~773.6573 Servicing Fees 18,~~481~~017.4936 4846,~~489~~813.7981 1716,~~143~~726.8641 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 0.00 0.00 0.00 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 ~~430~~418,~~156~~810.6372 1,~~106~~066,~~501~~343.8778 ~~391~~381,~~261~~047.7932 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.~~982500~~973455 6.~~845782~~833520 6.~~846679~~834352

Group Level Collateral Statement Group Grp 2 ARM Grp 3 Fixed Grp 3 ARM Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.~~120637~~120615 6.~~957721~~952151 76.~~011576~~998787 Weighted Average Net Rate 6.~~820637~~820615 6.~~657721~~652151 6.~~711576~~698787 Weighted Average Maturity ~~351~~350 ~~353~~352 ~~353~~352 Beginning Loan Count 1,~~170~~130 ~~168~~166 ~~609~~599 Loans Paid In Full 4041 24 1022 Ending Loan Count 1,~~130~~089 ~~166~~162 ~~599~~577 Beginning Scheduled Balance ~~177~~170,~~470~~559,~~683~~954.3557 3433,~~482~~629,~~398~~316.2726 ~~132~~129,~~378~~720,~~290~~250.6310 Ending scheduled Balance ~~170~~162,~~559~~832,~~954~~073.5772 33,~~629~~234,~~316~~158.2605 ~~129~~124,~~720~~462,~~250~~338.1049 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 1,~~200~~153,~~332~~847.8430 ~~232~~227,~~563~~267.6122 ~~888~~867,~~450~~507.6700 Scheduled Principal ~~147~~141,~~245~~770.9777 32,~~631~~437.1815 ~~114~~110,~~967~~936.0270 Unscheduled Principal 67,~~763~~586,~~482~~110.8108 ~~820~~362,~~450~~721.8306 25,~~543~~146,~~073~~974.5191 Scheduled Interest 1,~~053~~012,~~086~~076.8753 ~~199~~194,~~932~~830.4307 ~~773~~756,~~483~~570.6530 Servicing Fees 4442,~~367~~639.6799 8,~~620~~407.60 33 32,~~094~~430.5706 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 0.00 0.00 0.00 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 1969,~~008,719~~436.2054 ~~191~~186,~~311~~422.8374 ~~740~~724,~~389~~140.0824 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.~~820637~~820615 6.~~657721~~652151 6.~~711576~~698787

Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~118542~~109832 Weighted Average Net Rate 6.~~818542~~809832 Weighted Average Maturity ~~351~~350.00 Record Date 1011/3130/2004 Principal And Interest Constant 4,~~640~~496,~~621~~980.0876 Beginning Loan Count 4,~~313~~199 Loans Paid In Full ~~114~~129 Ending Loan Count 4,~~199~~070 Beginning Scheduled Balance ~~680~~660,~~791~~139,~~957~~847.7366 Ending Scheduled Balance ~~660~~636,~~139~~551,~~847~~881.6601 Scheduled Principal ~~602~~585,~~082~~744.7046 Unscheduled Principal 2023,~~050~~002,~~027~~222.3719 Scheduled Interest 43,~~038~~911,~~538~~236.3830 Servicing Fee ~~170~~165,~~197~~034.9896 Master Servicing Fee 0.00 Trustee Fee 0.00 Fry Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 3,~~868~~746,~~340~~201.4034 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 6.~~818542~~809832

Filing Compare · Asset Back Pass-Through Certificates, Series 2004-HE3