8-K 1 mab04op2_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 MASTR ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-OP2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106982-46 54-2162598 Pooling and Servicing Agreement) (Commission 54-2162599 (State or other File Number) 54-2162600 jurisdiction 54-2162601 of Incorporation) IRS EIN c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On December 27, 2004 a distribution was made to holders of MASTR ASSET BACKED SECURITIES TRUST, Mortgage Pass-Through Certificates, Series 2004-OP2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-OP2 Trust, relating to the December 27, 2004 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MASTR ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-OP2 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: 12/29/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-OP2 Trust, relating to the December 27, 2004 distribution. EX-99.1

MASTR Asset Backed Securitizations Mortgage Pass-Through Certificates Record Date: 1011/3130/042004 Distribution Date: 1112/2627/042004 ~~MABS~~MASTR Asset Backed Securitizations Mortgage Pass-Through Certificates Series: 2004-OP2 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 57643LFG6 SEN 2.~~24000~~53000% ~~674~~653,~~700~~221,~~000~~522.0071 1,~~595~~423,~~290~~115.67 2122,~~478~~197,~~477~~198.2926 A-2 57643LEV4 SEN 2.~~24000~~53000% ~~194~~185,~~194~~760,~~000~~281.0054 ~~459~~404,~~160~~699.9241 85,~~433~~799,~~718~~138.4616 M-1 57643LEW2 MEZ 2.~~49000~~78000% 25,332,000.00 6660,~~580~~641.9499 0.00 M-2 57643LEX0 MEZ 2.~~54000~~83000% 22,799,000.00 6155,~~126~~559.6590 0.00 M-3 57643LEY8 MEZ 2.~~59000~~88000% 12,666,000.00 3431,~~627~~411.4468 0.00 M-4 57643LEZ5 MEZ 23.~~89000~~18000% 13,173,000.00 4036,~~184~~072.9707 0.00 M-5 57643LFA9 MEZ 23.~~99000~~28000% 9,120,000.00 2825,~~783~~758.7393 0.00 M-6 57643LFB7 MEZ 3.~~19000~~48000% 7,600,000.00 2522,~~590~~774.8967 0.00 M-7 57643LFC5 MEZ 3.~~34000~~63000% 7,600,000.00 2623,~~794~~756.2233 0.00 M-8 57643LFD3 MEZ 34.~~79000~~08000% 12,666,000.00 5044,~~671~~499.0488 0.00 M-9 57643LFE1 MEZ 4.~~49000~~78000% 15,199,000.00 7262,~~034~~560.8277 0.00 M-10 57643LFF8 MEZ 5.~~39000~~68000% 8,106,000.00 4639,~~118~~647.6435 0.00 P MABS04O2P Prepay 0.00000% 100.00 ~~520~~407,~~589~~823.5310 0.00 CE MAS04O2CE SUB 0.00000% 10,132,~~485~~875.6186 2,~~525~~649,~~104~~003.3870 0.00 R MABS04O2R RES 0.00000% 0.00 0.00 0.00 RX MAS04O2RX RES 0.00000% 0.00 0.00 0.00 Totals 1983,~~013~~375,~~287,585~~780.6111 5,~~552~~287,~~658~~325.8445 2927,~~912~~996,~~195~~336.7542

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~653~~631,~~221~~024,~~522~~324.7145 23,~~073~~620,~~767~~313.9693 0.00 A-2 0.00 ~~185~~179,~~760~~961,~~281~~143.5438 86,~~892~~203,~~879~~837.3857 0.00 M-1 0.00 25,332,000.00 6660,~~580~~641.9499 0.00 M-2 0.00 22,799,000.00 6155,~~126~~559.6590 0.00 M-3 0.00 12,666,000.00 3431,~~627~~411.4468 0.00 M-4 0.00 13,173,000.00 4036,~~184~~072.9707 0.00 M-5 0.00 9,120,000.00 2825,~~783~~758.7393 0.00 M-6 0.00 7,600,000.00 2522,~~590~~774.8967 0.00 M-7 0.00 7,600,000.00 2623,~~794~~756.2233 0.00 M-8 0.00 12,666,000.00 5044,~~671~~499.0488 0.00 M-9 0.00 15,199,000.00 7262,~~034~~560.8277 0.00 M-10 0.00 8,106,000.00 4639,~~118~~647.6435 0.00 P 0.00 100.00 ~~520~~407,~~589~~823.5310 0.00 CE 0.00 10,132,875.86 2,~~525~~649,~~104~~003.3870 0.00 R 0.00 0.00 0.00 0.00 RX 0.00 0.00 0.00 0.00 Totals 0.00 ~~983~~955,~~375~~379,~~780~~443.1169 3533,~~464~~283,~~854~~661.5987 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-1 674,700,000.00 ~~674~~653,~~700~~221,~~000~~522.0071 0.00 2122,~~478~~197,~~477~~198.2926 0.00 0.00 A-2 194,194,000.00 ~~194~~185,~~194~~760,~~000~~281.0054 0.00 85,~~433~~799,~~718~~138.4616 0.00 0.00 M-1 25,332,000.00 25,332,000.00 0.00 0.00 0.00 0.00 M-2 22,799,000.00 22,799,000.00 0.00 0.00 0.00 0.00 M-3 12,666,000.00 12,666,000.00 0.00 0.00 0.00 0.00 M-4 13,173,000.00 13,173,000.00 0.00 0.00 0.00 0.00 M-5 9,120,000.00 9,120,000.00 0.00 0.00 0.00 0.00 M-6 7,600,000.00 7,600,000.00 0.00 0.00 0.00 0.00 M-7 7,600,000.00 7,600,000.00 0.00 0.00 0.00 0.00 M-8 12,666,000.00 12,666,000.00 0.00 0.00 0.00 0.00 M-9 15,199,000.00 15,199,000.00 0.00 0.00 0.00 0.00 M-10 8,106,000.00 8,106,000.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 CE 10,132,485.61 10,132,~~485~~875.6186 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 RX 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,013,287,585.61 1983,~~013~~375,~~287,585~~780.6111 0.00 2927,~~912~~996,~~195~~336.7542 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 2122,~~478~~197,~~477~~198.2926 ~~653~~631,~~221~~024,~~522~~324.7145 0.~~96816589~~93526653 2122,~~478~~197,~~477~~198.2926 A-2 85,~~433~~799,~~718~~138.4616 ~~185~~179,~~760~~961,~~281~~143.5438 0.~~95657065~~92670805 85,~~433~~799,~~718~~138.4616 M-1 0.00 25,332,000.00 1.00000000 0.00 M-2 0.00 22,799,000.00 1.00000000 0.00 M-3 0.00 12,666,000.00 1.00000000 0.00 M-4 0.00 13,173,000.00 1.00000000 0.00 M-5 0.00 9,120,000.00 1.00000000 0.00 M-6 0.00 7,600,000.00 1.00000000 0.00 M-7 0.00 7,600,000.00 1.00000000 0.00 M-8 0.00 12,666,000.00 1.00000000 0.00 M-9 0.00 15,199,000.00 1.00000000 0.00 M-10 0.00 8,106,000.00 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 CE 0.00 10,132,875.86 1.00003851 0.00 R 0.00 0.00 0.00000000 0.00 RX 0.00 0.00 0.00000000 0.00 Totals 2927,~~912~~996,~~195~~336.7542 ~~983~~955,~~375~~379,~~780~~443.1169 0.~~97048044~~94285123 2927,~~912~~996,~~195~~336.7542

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 674,700,000.00 ~~1000~~968.~~00000000~~16588515 0.00000000 3132.~~83411485~~89936010 0.00000000 A-2 194,194,000.00 ~~1000~~956.~~00000000~~57065378 0.00000000 4329.~~42934622~~86260214 0.00000000 M-1 25,332,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 22,799,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 12,666,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 13,173,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 9,120,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 7,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 7,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 12,666,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 15,199,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-10 8,106,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 10,132,485.61 1000.~~00000000~~03851474 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 RX 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 3132.~~83411485~~89936010 ~~968~~935.~~16588515~~26652505 0.~~96816589~~93526653 3132.~~83411485~~89936010 A-2 0.00000000 4329.~~42934622~~86260214 ~~956~~926.~~57065378~~70805164 0.~~95657065~~92670805 4329.~~42934622~~86260214 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 1,000.03851474 1.00003851 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 RX 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-1 674,700,000.00 2.~~24000~~53000% ~~674~~653,~~700~~221,~~000~~522.0071 1,~~595~~423,~~290~~115.67 0.00 0.00 A-2 194,194,000.00 2.~~24000~~53000% ~~194~~185,~~194~~760,~~000~~281.0054 ~~459~~404,~~160~~699.9241 0.00 0.00 M-1 25,332,000.00 2.~~49000~~78000% 25,332,000.00 6660,~~580~~641.9499 0.00 0.00 M-2 22,799,000.00 2.~~54000~~83000% 22,799,000.00 6155,~~126~~559.6590 0.00 0.00 M-3 12,666,000.00 2.~~59000~~88000% 12,666,000.00 3431,~~627~~411.4468 0.00 0.00 M-4 13,173,000.00 23.~~89000~~18000% 13,173,000.00 4036,~~184~~072.9707 0.00 0.00 M-5 9,120,000.00 23.~~99000~~28000% 9,120,000.00 2825,~~783~~758.7393 0.00 0.00 M-6 7,600,000.00 3.~~19000~~48000% 7,600,000.00 2522,~~590~~774.8967 0.00 0.00 M-7 7,600,000.00 3.~~34000~~63000% 7,600,000.00 2623,~~794~~756.2233 0.00 0.00 M-8 12,666,000.00 34.~~79000~~08000% 12,666,000.00 5044,~~671~~499.0488 0.00 0.00 M-9 15,199,000.00 4.~~49000~~78000% 15,199,000.00 7262,~~034~~560.8277 0.00 0.00 M-10 8,106,000.00 5.~~39000~~68000% 8,106,000.00 4639,~~118~~647.6435 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 CE 10,132,485.61 0.00000% 10,132,~~485~~875.6186 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 RX 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,013,287,585.61 2,~~506~~230,~~964~~498.9365 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,~~595~~423,~~290~~115.67 0.00 ~~653~~631,~~221~~024,~~522~~324.7145 A-2 0.00 0.00 ~~459~~404,~~160~~699.9241 0.00 ~~185~~179,~~760~~961,~~281~~143.5438 M-1 0.00 0.00 6660,~~580~~641.9499 0.00 25,332,000.00 M-2 0.00 0.00 6155,~~126~~559.6590 0.00 22,799,000.00 M-3 0.00 0.00 3431,~~627~~411.4468 0.00 12,666,000.00 M-4 0.00 0.00 4036,~~184~~072.9707 0.00 13,173,000.00 M-5 0.00 0.00 2825,~~783~~758.7393 0.00 9,120,000.00 M-6 0.00 0.00 2522,~~590~~774.8967 0.00 7,600,000.00 M-7 0.00 0.00 2623,~~794~~756.2233 0.00 7,600,000.00 M-8 0.00 0.00 5044,~~671~~499.0488 0.00 12,666,000.00 M-9 0.00 0.00 7262,~~034~~560.8277 0.00 15,199,000.00 M-10 0.00 0.00 4639,~~118~~647.6435 0.00 8,106,000.00 P 0.00 0.00 ~~520~~407,~~589~~823.5310 0.00 100.00 CE 0.00 0.00 2,~~525~~649,~~104~~003.3870 0.00 10,132,875.86 R 0.00 0.00 0.00 0.00 0.00 RX 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 5,~~552~~287,~~658~~325.8445 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-1 674,700,000.00 2.~~24000~~53000% ~~1000~~968.~~00000000~~16588515 2.~~36444445~~10925696 0.00000000 0.00000000 A-2 194,194,000.00 2.~~24000~~53000% ~~1000~~956.~~00000000~~57065378 2.~~36444442~~08399544 0.00000000 0.00000000 M-1 25,332,000.00 2.~~49000~~78000% 1000.00000000 2.~~62833333~~39388876 0.00000000 0.00000000 M-2 22,799,000.00 2.~~54000~~83000% 1000.00000000 2.~~68111101~~43694460 0.00000000 0.00000000 M-3 12,666,000.00 2.~~59000~~88000% 1000.00000000 2.~~73388915~~48000000 0.00000000 0.00000000 M-4 13,173,000.00 23.~~89000~~18000% 1000.00000000 32.~~05055568~~73833371 0.00000000 0.00000000 M-5 9,120,000.00 23.~~99000~~28000% 1000.00000000 32.~~15611075~~82444408 0.00000000 0.00000000 M-6 7,600,000.00 3.~~19000~~48000% 1000.00000000 32.~~36722237~~99666711 0.00000000 0.00000000 M-7 7,600,000.00 3.~~34000~~63000% 1000.00000000 3.~~52555526~~12583289 0.00000000 0.00000000 M-8 12,666,000.00 34.~~79000~~08000% 1000.00000000 43.~~00055582~~51333333 0.00000000 0.00000000 M-9 15,199,000.00 4.~~49000~~78000% 1000.00000000 4.~~73944470~~11611093 0.00000000 0.00000000 M-10 8,106,000.00 5.~~39000~~68000% 1000.00000000 54.~~68944486~~89111152 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 CE 10,132,485.61 0.00000% 1000.~~00000000~~03851474 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 RX 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 2.~~36444445~~10925696 0.00000000 ~~968~~935.~~16588515~~26652505 A-2 0.00000000 0.00000000 2.~~36444442~~08399544 0.00000000 ~~956~~926.~~57065378~~70805164 M-1 0.00000000 0.00000000 2.~~62833333~~39388876 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~68111101~~43694460 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~73388915~~48000000 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 32.~~05055568~~73833371 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 32.~~15611075~~82444408 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 32.~~36722237~~99666711 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 3.~~52555526~~12583289 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 43.~~00055582~~51333333 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 4.~~73944470~~11611093 0.00000000 1000.00000000 M-10 0.00000000 0.00000000 54.~~68944486~~89111152 0.00000000 1000.00000000 P 0.00000000 0.00000000 ~~5205895~~4078231.~~30000000~~00000000 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~249~~261.~~20878027~~43670980 0.00000000 1000.03851474 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 RX 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 3533,~~742~~471,~~345~~545.9915 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 32243,~~581~~658.4126 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~520~~407,~~589~~823.5310 Total Deposits 3634,~~295~~123,~~516~~026.9351 Withdrawals Reimbursement for Servicer Advances 032,581.0041 Payment of Service Fee ~~830~~806,~~662~~783.3423 Payment of Interest and Principal 3533,~~464~~283,~~854~~661.5987 Total Withdrawals (Pool Distribution Amount) 3634,~~295~~123,~~516~~026.9351 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~253~~245,~~321~~843.8994 Radian ~~573~~556,~~118~~841.4289 Trustee Fee 4,~~222~~097.0340 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~830~~806,~~662~~783.3423

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 0.00 ~~520~~407,~~589~~823.5310 ~~520~~407,~~589~~823.5310 0.00

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 6 0 0 6 700,~~752~~318.0625 0.00 0.00 700,~~752~~318.0625 30 Days 6771 01 0 0 6772 1110,~~456~~247,~~563~~459.6141 087,764.0065 0.00 0.00 1110,~~456~~335,~~563~~224.6106 60 Days 23 1 06 0 030 ~~1 290~~3,~~899~~865,393.5981 051,722.0010 0726,979.0089 0.00 ~~290~~4,~~899~~644,095.5980 90 Days 0 0 01 0 01 0.00 0.00 0290,899.0059 0.00 0290,899.0059 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 6894 68 07 0 74109 1114,~~747~~112,~~463~~853.2022 ~~700~~839,~~752~~805.0600 01,017,879.0048 0.00 1215,~~448~~970,~~215~~537.2670 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.~~105690~~108245% 0.000000% 0.000000% 0.~~105690~~108245% 0.~~071245~~073283% 0.000000% 0.000000% 0.~~071245~~073283% 30 Days 1.~~180201~~280895% 0.~~000000~~018041% 0.000000% 0.000000% 1.~~180201~~298936% 1.~~164775~~072323% 0.~~000000~~009184% 0.000000% 0.000000% 1.~~164775~~081507% 60 Days 0.~~017615~~414938% 0.~~000000~~018041% 0.~~000000~~108245% 0.000000% 0.~~017615~~541223% 0.~~029575~~404486% 0.~~000000~~005412% 0.~~000000~~076073% 0.000000% 0.~~029575~~485971% 90 Days 0.000000% 0.000000% 0.~~000000~~018041% 0.000000% 0.~~000000~~018041% 0.000000% 0.000000% 0.~~000000~~030441% 0.000000% 0.~~000000~~030441% 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.~~197816~~695833% 0.~~105690~~144326% 0.~~000000~~126285% 0.000000% 1.~~303505~~966444% 1.~~194351~~476809% 0.~~071245~~087880% 0.~~000000~~106514% 0.000000% 1.~~265595~~671202%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 32243,~~581~~658.4126 Class M-1 119,061,585.61 11.75002904% 119,061,975.86 12.46227105% 2.651512% 0.000000% Class M-2 96,262,585.61 9.50002615% 96,262,975.86 10.07588938% 2.386382% 0.000000% Class M-3 83,596,585.61 8.25003551% 83,596,975.86 8.75013341% 1.325756% 0.000000% Class M-4 70,423,585.61 6.95000971% 70,423,975.86 7.37130952% 1.378824% 0.000000% Class P 10,132,485.61 0.99996149% 10,132,875.86 1.06061272% 0.000010% 0.000000% Class CE 0.00 0.00000000% 0.00 0.00000000% 1.060613% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.~~943484~~938896% Weighted Average Net Coupon 6.~~643484~~638896% Weighted Average Pass-Through Rate 5.~~959760~~954390% Weighted Average Maturity(Stepdown Calculation ) ~~352~~351 Beginning Scheduled Collateral Loan Count 5,~~817~~677 Number Of Loans Paid In Full ~~140~~134 Ending Scheduled Collateral Loan Count 5,~~677~~543 Beginning Scheduled Collateral Balance 1983,~~013~~375,~~287,585~~780.6111 Ending Scheduled Collateral Balance ~~983~~955,~~375~~379,~~780~~443.1169 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~983~~955,~~585~~631,~~830~~747.9659 Monthly P &I Constant 6,~~705~~509,~~867~~770.3051 Special Servicing Fee 0.00 Prepayment Penalties ~~520~~407,~~589~~823.5310 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~842~~823,~~745~~484.5993 Unscheduled Principal 2927,~~069~~172,~~059~~851.9249

Other Income 0.00 Yield Maintenance 0.00 ~~Overcollaterization Target Amount 10,132,875.86~~

Miscellaneous Reporting Excess Cash 2,~~525~~649,~~494~~003.6370 Extra Principal Distribution Amount ~~390~~0.2500 Overcollaterization Amount 10,132,875.86 Overcollaterization Deficiency Amount ~~390~~0.2500 Overcollaterization Target Amount 10,132,875.86 Stepdown NO Trigger Event NO

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.~~106023~~102289 6.~~970988~~965545 7.~~031457~~011507 Weighted Average Net Rate 76.~~031028~~802289 6.~~189164~~665545 06.~~000000~~711507 Weighted Average Maturity ~~352~~351 ~~352~~ 351 350 Beginning Loan Count 1,~~316~~291 3,~~673~~580 ~~361~~351 Loans Paid In Full 2518 9398 105 Ending Loan Count 1,~~291~~273 3,~~580~~482 ~~351~~346 Beginning Scheduled Balance ~~196~~192,~~698~~601,~~401~~618.3621 ~~590~~572,~~141~~759,~~409~~995.4957 6664,~~534~~437,~~644~~376.7013 Ending scheduled Balance ~~192~~189,~~601~~731,~~618~~079.2199 ~~572~~553,~~759~~433,~~995~~335.5753 6463,~~437~~070,~~376~~711.1392 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 1,~~354~~327,~~022~~551.7912 3,~~904~~786,~~085~~910.7090 ~~451~~437,~~959~~589.5797 Scheduled Principal ~~189~~187,~~236~~624.6023 ~~475~~462,~~861~~256.7136 6261,~~096~~087.6838 Unscheduled Principal 32,~~907~~682,~~546~~913.5599 1618,~~905~~864,~~552~~403.2168 21,~~035~~305,~~171~~576.8983 Scheduled Interest 1,~~164~~139,~~786~~926.1989 3,~~428~~324,~~223~~654.9954 ~~389~~376,~~862~~502.8959 Servicing Fees 4948,~~174~~150.6040 ~~147~~143,~~535~~190.3500 16,~~633~~109.6634 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~819~~802.5851 2,~~458~~386.9250 ~~277~~268.2349 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee ~~117~~114,~~662~~982.6439 ~~333~~324,~~775~~242.1063 3736,~~913~~731.9493 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,~~115~~091,~~611~~776.7640 3,~~280~~181,~~688~~464.7754 ~~373~~360,~~229~~393.2423 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.~~083198~~080893 5.~~987286~~981218 6.~~042651~~022458

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.~~605451~~604135 6.~~943484~~938896 Weighted Average Net Rate 06.~~000000~~304135 6.~~643484~~638896 Weighted Average Maturity 350 351 ~~352~~ Beginning Loan Count ~~467~~455 5,~~817~~677 Loans Paid In Full 1213 ~~140~~134 Ending Loan Count ~~455~~442 5,~~677~~543 Beginning Scheduled Balance ~~159~~153,~~913~~576,~~130~~790.0620 1983,~~013~~375,~~287,585~~780.6111 Ending scheduled Balance ~~153~~149,~~576~~144,~~790~~316.2025 ~~983~~955,~~375~~379,~~780~~443.1169 Record Date 1011/3130/2004 1011/3130/2004 Principal And Interest Constant ~~995~~957,~~799~~718.2452 6,~~705~~509,~~867~~770.3051 Scheduled Principal ~~115~~112,~~550~~516.6096 ~~842~~823,~~745~~484.5993 Unscheduled Principal 64,~~220~~319,~~789~~956.2799 2927,~~069~~172,~~059~~851.9249 Scheduled Interest ~~880~~845,~~248~~201.6456 5,~~863~~686,~~121~~285.7158 Servicing Fees 3938,~~978~~394.2820 ~~253~~245,~~321~~843.8994 Master Servicing Fees 0.00 0.00 Trustee Fee ~~666~~639.3090 4,~~222~~097.0340 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 8380,~~766~~884.7494 ~~573~~556,~~118~~841.4289 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 ~~840~~806,~~270~~807.2541 5,~~609~~440,~~800~~441.0258 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 5.~~671859~~667126 5.~~959760~~954390

Filing Compare · MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-0PT2