8-K 1 abf04op2_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-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-108551-05 54-2147328 Pooling and Servicing Agreement) (Commission 54-2147329 (State or other File Number) 54-6601033 jurisdiction IRS EIN 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 ASSET BACKED FUNDING CORPORATION, Asset Backed Certificates, Series 2004 OPT-2 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-2 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-2 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-2 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-~~OP2~~2 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 A1 04542BFT4 SEQ 2.~~22250~~47000% ~~225~~208,~~817~~173,~~697~~746.5974 ~~446~~442,~~115~~773.3998 1718,~~643~~487,~~950~~964.8544 A1A 04542BFU1 SEQ 2.~~32250~~57000% 2523,~~091~~130,~~092~~634.0254 51,~~799~~189.1638 12,~~960~~054,~~457~~237.4865 A2 04542BFV9 SEQ 2.~~21250~~46000% 4542,~~074~~149,~~656~~421.3724 8889,~~646~~286.8252 2,~~925~~719,~~235~~379.1309 M1 04542BFW7 SUB 2.~~48250~~73000% 26,969,000.00 5963,~~511~~399.5962 0.00 M2 04542BFX5 SUB 23.~~93250~~18000% 21,576,000.00 5659,~~241~~082.4428 0.00 M3 04542BFY3 SUB 3.~~13250~~38000% 5,394,000.00 15,~~019~~699.2954 0.00 M4 04542BFZ0 SUB 3.~~48250~~73000% 6,130,000.00 1819,~~975~~689.7522 0.00 M5 04542BGA4 SUB 3.~~58250~~83000% 4,168,000.00 13,~~272~~746.7630 0.00 M6 04542BGB2 SUB 45.~~88250~~13000% 6,129,000.00 2627,~~599~~074.86 0.00 B 04542BGC0 SUB 5.~~43250~~68000% 4,904,000.00 23,~~680~~986.8701 0.00 CE ABF4OP2CE SEQ 0.00000% 3,187,344.82 1,~~290~~157,~~289~~932.6605 0.00 R1 ABF04OP2R1 SEQ 0.00000% 0.00 0.00 0.00 R2 ABF04OP2R2 SEQ 0.00000% 0.00 0.00 0.00 P ABF04OP2P SEQ 0.00000% 0.00 ~~323~~264,~~817~~647.0978 0.00 Totals ~~374~~351,~~440~~911,~~790~~147.8034 2,~~413~~228,~~969~~507.6854 2223,~~529~~261,~~643~~581.4618

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~208~~189,~~173~~685,~~746~~782.7430 18,~~090~~930,~~066~~738.2442 0.00 A1A 0.00 2321,~~130~~076,~~634~~396.5489 2,~~012~~105,~~256~~427.6403 0.00 A2 0.00 4239,~~149~~430,~~421~~042.2415 32,~~013~~808,~~881~~665.9561 0.00 M1 0.00 26,969,000.00 5963,~~511~~399.5962 0.00 M2 0.00 21,576,000.00 5659,~~241~~082.4428 0.00 M3 0.00 5,394,000.00 15,~~019~~699.2954 0.00 M4 0.00 6,130,000.00 1819,~~975~~689.7522 0.00 M5 0.00 4,168,000.00 13,~~272~~746.7630 0.00 M6 0.00 6,129,000.00 2627,~~599~~074.86 0.00 B 0.00 4,904,000.00 23,~~680~~986.8701 0.00 CE 0.00 3,187,344.82 1,~~290~~157,~~289~~932.6605 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 ~~323~~264,~~817~~647.0978 0.00 Totals 0.00 ~~351~~328,~~911~~649,~~147~~566.3416 2425,~~943~~490,~~613~~088.1472 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) A1 317,967,000.00 ~~225~~208,~~817~~173,~~697~~746.5974 0.00 1718,~~643~~487,~~950~~964.8544 0.00 0.00 A1A 35,330,000.00 2523,~~091~~130,~~092~~634.0254 0.00 12,~~960~~054,~~457~~237.4865 0.00 0.00 A2 58,606,000.00 4542,~~074~~149,~~656~~421.3724 0.00 2,~~925~~719,~~235~~379.1309 0.00 0.00 M1 26,969,000.00 26,969,000.00 0.00 0.00 0.00 0.00 M2 21,576,000.00 21,576,000.00 0.00 0.00 0.00 0.00 M3 5,394,000.00 5,394,000.00 0.00 0.00 0.00 0.00 M4 6,130,000.00 6,130,000.00 0.00 0.00 0.00 0.00 M5 4,168,000.00 4,168,000.00 0.00 0.00 0.00 0.00 M6 6,129,000.00 6,129,000.00 0.00 0.00 0.00 0.00 B 4,904,000.00 4,904,000.00 0.00 0.00 0.00 0.00 CE 3,187,742.22 3,187,344.82 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 490,360,742.22 ~~374~~351,~~440~~911,~~790~~147.8034 0.00 2223,~~529~~261,~~643~~581.4618 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 A1 1718,~~643~~487,~~950~~964.8544 ~~208~~189,~~173~~685,~~746~~782.7430 0.~~65470236~~59655808 1718,~~643~~487,~~950~~964.8544 A1A 12,~~960~~054,~~457~~237.4865 2321,~~130~~076,~~634~~396.5489 0.~~65470236~~59655808 12,~~960~~054,~~457~~237.4865 A2 2,~~925~~719,~~235~~379.1309 4239,~~149~~430,~~421~~042.2415 0.~~71919976~~67279873 2,~~925~~719,~~235~~379.1309 M1 0.00 26,969,000.00 1.00000000 0.00 M2 0.00 21,576,000.00 1.00000000 0.00 M3 0.00 5,394,000.00 1.00000000 0.00 M4 0.00 6,130,000.00 1.00000000 0.00 M5 0.00 4,168,000.00 1.00000000 0.00 M6 0.00 6,129,000.00 1.00000000 0.00 B 0.00 4,904,000.00 1.00000000 0.00 CE 0.00 3,187,344.82 0.99987533 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 2223,~~529~~261,~~643~~581.4618 ~~351~~328,~~911~~649,~~147~~566.3416 0.~~71765767~~67021998 2223,~~529~~261,~~643~~581.4618

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 317,967,000.00 ~~710~~654.~~19224508~~70236452 0.00000000 5558.~~48988055~~14428680 0.00000000 A1A 35,330,000.00 ~~710~~654.~~19224512~~70236456 0.00000000 5558.~~48988055~~14428673 0.00000000 A2 58,606,000.00 ~~769~~719.~~11333942~~19976180 0.00000000 4946.~~91357762~~40103556 0.00000000 M1 26,969,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 21,576,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 5,394,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 6,130,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 4,168,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 6,129,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 4,904,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 3,187,742.22 999.87533496 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 $1000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 5558.~~48988055~~14428680 ~~654~~596.~~70236452~~55807773 0.~~65470236~~59655808 5558.~~48988055~~14428680 A1A 0.00000000 5558.~~48988055~~14428673 ~~654~~596.~~70236456~~55807784 0.~~65470236~~59655808 5558.~~48988055~~14428673 A2 0.00000000 4946.~~91357762~~40103556 ~~719~~672.~~19976180~~79872624 0.~~71919976~~67279873 4946.~~91357762~~40103556 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 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 999.87533496 0.99987533 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 A1 317,967,000.00 2.~~22250~~47000% ~~225~~208,~~817~~173,~~697~~746.5974 ~~446~~442,~~115~~773.4199 0.00 0.00 A1A 35,330,000.00 2.~~32250~~57000% 2523,~~091~~130,~~092~~634.0254 51,~~799~~189.1738 0.00 0.00 A2 58,606,000.00 2.~~21250~~46000% 4542,~~074~~149,~~656~~421.3724 8889,~~646~~286.8252 0.00 0.00 M1 26,969,000.00 2.~~48250~~73000% 26,969,000.00 5963,~~511~~399.5962 0.00 0.00 M2 21,576,000.00 23.~~93250~~18000% 21,576,000.00 5659,~~241~~082.4428 0.00 0.00 M3 5,394,000.00 3.~~13250~~38000% 5,394,000.00 15,~~019~~699.2954 0.00 0.00 M4 6,130,000.00 3.~~48250~~73000% 6,130,000.00 1819,~~975~~689.7622 0.00 0.00 M5 4,168,000.00 3.~~58250~~83000% 4,168,000.00 13,~~272~~746.7630 0.00 0.00 M6 6,129,000.00 45.~~88250~~13000% 6,129,000.00 2627,~~599~~074.86 0.00 0.00 B 4,904,000.00 5.~~43250~~68000% 4,904,000.00 23,~~680~~986.8701 0.00 0.00 CE 3,187,742.22 0.00000% 3,187,344.82 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 490,360,742.22 ~~799~~805,~~862~~927.9772 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 A1 0.0201 0.00 ~~446~~442,~~115~~773.3998 0.00 ~~208~~189,~~173~~685,~~746~~782.7430 A1A 0.00 0.00 51,~~799~~189.1638 0.00 2321,~~130~~076,~~634~~396.5489 A2 0.00 0.00 8889,~~646~~286.8252 0.00 4239,~~149~~430,~~421~~042.2415 M1 0.00 0.00 5963,~~511~~399.5962 0.00 26,969,000.00 M2 0.00 0.00 5659,~~241~~082.4428 0.00 21,576,000.00 M3 0.00 0.00 15,~~019~~699.2954 0.00 5,394,000.00 M4 0.00 0.00 1819,~~975~~689.7522 0.00 6,130,000.00 M5 0.00 0.00 13,~~272~~746.7630 0.00 4,168,000.00 M6 0.00 0.00 2627,~~599~~074.86 0.00 6,129,000.00 B 0.00 0.00 23,~~680~~986.8701 0.00 4,904,000.00 CE 0.00 0.00 1,~~290~~157,~~289~~932.6605 0.00 3,187,344.82 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 ~~323~~264,~~817~~647.0978 0.00 0.01 Totals 0.0201 0.00 2,~~413~~228,~~969~~507.6854 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 A1 317,967,000.00 2.~~22250~~47000% ~~710~~654.~~19224508~~70236452 1.~~40302424~~39251554 0.00000000 0.00000000 A1A 35,330,000.00 2.~~32250~~57000% ~~710~~654.~~19224512~~70236456 1.~~46615256~~44889273 0.00000000 0.00000000 A2 58,606,000.00 2.~~21250~~46000% ~~769~~719.~~11333942~~19976180 1.~~51258950~~52350476 0.00000000 0.00000000 M1 26,969,000.00 2.~~48250~~73000% 1000.00000000 2.~~20666654~~35083318 0.00000000 0.00000000 M2 21,576,000.00 23.~~93250~~18000% 1000.00000000 2.~~60666667~~73833333 0.00000000 0.00000000 M3 5,394,000.00 3.~~13250~~38000% 1000.00000000 2.~~78444383~~91055617 0.00000000 0.00000000 M4 6,130,000.00 3.~~48250~~73000% 1000.00000000 3.~~09555628~~21194454 0.00000000 0.00000000 M5 4,168,000.00 3.~~58250~~83000% 1000.00000000 3.~~18444338~~29805662 0.00000000 0.00000000 M6 6,129,000.00 45.~~88250~~13000% 1000.00000000 4.~~34000000~~41750041 0.00000000 0.00000000 B 4,904,000.00 5.~~43250~~68000% 1000.00000000 4.~~82888866~~89111134 0.00000000 0.00000000 CE 3,187,742.22 0.00000% 999.87533496 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 $1000 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 A1 0.~~00000006~~00000003 0.00000000 1.~~40302418~~39251551 0.00000000 ~~654~~596.~~70236452~~55807773 A1A 0.00000000 0.00000000 1.~~46615228~~44889273 0.00000000 ~~654~~596.~~70236456~~55807784 A2 0.00000000 0.00000000 1.~~51258950~~52350476 0.00000000 ~~719~~672.~~19976180~~79872624 M1 0.00000000 0.00000000 2.~~20666654~~35083318 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~60666667~~73833333 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.~~78444383~~91055617 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.~~09555465~~21194454 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.~~18444338~~29805662 0.00000000 1000.00000000 M6 0.00000000 0.00000000 4.~~34000000~~41750041 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.~~82888866~~89111134 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~404~~363.~~76599767~~24519678 0.00000000 999.87533496 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 2425,~~845~~437,~~152~~865.5833 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 ~~323~~264,~~817~~647.0978 Total Deposits 25,~~168~~702,~~969~~513.6711 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~225~~212,~~356~~424.5339 Payment of Interest and Principal 2425,~~943~~490,~~613~~088.1472 Total Withdrawals (Pool Distribution Amount) 25,~~168~~702,~~969~~513.6711 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 9387,~~567~~922.2932 Credit Risk Manager Fee 5,~~460~~132.6017 PMI Premium ~~123~~117,~~832~~023.4287 Trustee Fee 2,~~496~~346.2203 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~225~~212,~~356~~424.5339

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 6 630,~~792~~358.6254 0.00 0.00 630,~~792~~358.6254 30 Days 3833 10 1 0 4034 65,~~187~~098,~~616~~699.0290 ~~156,430~~0.1900 97136,~~032~~838.2924 0.00 65,~~441~~235,~~078~~538.5014 60 Days 1018 2 31 0 1521 23,~~216~~207,~~915~~378.1742 ~~166~~215,~~348~~405.5338 ~~405~~164,~~292~~155.8344 0.00 23,~~788~~586,~~556~~939.5324 90 Days 6 69 22 3 3740 1,~~200~~117,~~509~~515.0688 ~~905~~1,~~991~~251,892.1583 2,~~814~~841,~~579~~351.5740 223,017.22 5,~~144~~433,~~097~~777.0033 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 5457 1517 2624 3 98101 9,~~605~~423,~~040~~594.2520 12,~~859~~097,~~562~~656.4975 3,~~316~~142,~~904~~345.6908 223,017.22 1514,~~004~~886,~~524~~613.6525 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.~~263736~~279200% 0.000000% 0.000000% 0.~~263736~~279200% 0.~~179177~~191718% 0.000000% 0.000000% 0.~~179177~~191718% 30 Days 1.~~670330~~535598% 0.~~043956~~000000% 0.~~043956~~046533% 0.000000% 1.~~758242~~582131% 1.~~757600~~550726% 0.~~044434~~000000% 0.~~027562~~041618% 0.000000% 1.~~829596~~592345% 60 Days 0.~~439560~~837599% 0.~~087912~~093067% 0.~~131868~~046533% 0.000000% 0.~~659341~~977199% 0.~~629717~~975497% 0.~~047251~~065514% 0.~~115124~~049926% 0.000000% 01.~~792093~~090937% 90 Days 0.~~263736~~279200% 0.~~263736~~418799% 01.~~967033~~023732% 0.~~131868~~139600% 1.~~626374~~861331% 0.~~341006~~339883% 0.~~257348~~380753% 0.~~799485~~864173% 0.~~063348~~067829% 1.~~461187~~652637% 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.~~373626~~652396% 0.~~659341~~791066% 1.~~142857~~116799% 0.~~131868~~139600% 4.~~307692~~699860% 2.~~728323~~866106% 0.~~528211~~637985% 0.~~942171~~955718% 0.~~063348~~067829% 4.~~262053~~527637%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 6977,~~732~~828.9990

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~420695~~405161% Weighted Average Net Coupon 7.~~120832~~105351% Weighted Average Pass-Through Rate 6.~~698478~~680805% Weighted Average Maturity (Stepdown Calculation ) ~~347~~346 Beginning Scheduled Collateral Loan Count 2,~~413~~275 Number Of Loans Paid In Full ~~138~~126 Ending Scheduled Collateral Loan Count 2,~~275~~149 Beginning Scheduled Collateral Balance ~~374~~351,~~440~~911,~~790~~147.8034 Ending Scheduled Collateral Balance ~~351~~328,~~911~~649,~~147~~566.3416 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~352~~328,~~049~~794,~~217~~305.7857 Monthly P &I Constant 2,~~640~~478,~~506~~987.5201 Special Servicing Fee 0.00 Prepayment Penalties ~~323~~264,~~817~~647.0978 Realized Loss Amount 0.00 Cumulative Realized Loss 4,933.82 Ending Scheduled Balance for Premium Loans ~~351~~328,~~911~~649,~~147~~566.3416 Scheduled Principal ~~324~~307,~~997~~354.2750 Unscheduled Principal 22,~~204~~954,~~646~~226.1968 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 3,187,344.82 Overcollateralized Amount 3,187,344.82 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 1,~~290~~157,~~289~~932.6605

Miscellaneous Reporting Group 1 Available Funds 2122,~~393~~222,~~704~~577.07100 Group 2 Available Funds 3,~~226~~002,~~091~~862.9992

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~455443~~440971 7.~~224094~~204600 7.~~420695~~405161 Weighted Average Net Rate 7.~~155604~~141194 6.~~924094~~904600 7.~~120832~~105351 Weighted Average Maturity ~~347~~346 ~~347~~346 ~~347~~346 Beginning Loan Count 2,~~184~~059 ~~229~~216 2,~~413~~275 Loans Paid In Full ~~125~~114 1312 ~~138~~126 Ending Loan Count 21,~~059~~945 ~~216~~204 2,~~275~~149 Beginning Scheduled Balance ~~318~~298,~~202~~597,~~299~~891.7441 5653,~~238~~313,~~491~~255.0693 ~~374~~351,~~440~~911,~~790~~147.8034 Ending scheduled Balance ~~298~~278,~~597~~055,~~891~~689.4132 5350,~~313~~593,~~255~~876.9384 ~~351~~328,~~911~~649,~~147~~566.3416 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 2,~~252~~111,~~592~~612.4921 ~~387~~367,~~914~~374.0380 2,~~640~~478,~~506~~987.5201 Scheduled Principal ~~275~~260,~~643~~063.3560 4947,~~353~~290.9290 ~~324~~307,~~997~~354.2750 Unscheduled Principal 1920,~~328~~282,~~764~~138.9849 2,~~875~~672,~~881~~088.2119 22,~~204~~954,~~646~~226.1968 Scheduled Interest 1,~~976~~851,~~949~~548.1461 ~~338~~320,~~560~~083.1190 2,~~315~~171,~~509~~632.2551 Servicing Fees 7974,~~507~~594.6701 1413,~~059~~328.6231 9387,~~567~~922.2932 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 21,~~121~~990.2958 ~~374~~355.9345 2,~~496~~346.2203 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 4,~~640~~354.4266 ~~820~~777.1851 5,~~460~~132.6017 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 ~~101~~94,~~383~~885.8403 22,~~448~~138.5884 ~~123~~117,~~832~~023.4287 Net Interest 1,~~789~~675,~~295~~724.9233 ~~300~~283,~~856~~483.8079 21,~~090~~959,~~152~~208.7212 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 4,933.82 0.00 4,933.82 Percentage of Cumulative Losses 0.0012 0.0000 0.0010 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~747767~~734372 6.~~419594~~380788 6.~~698478~~680805

Filing Compare · ABFC ASSET-BACKED CERTIFICATES SERIES 2004-OPT2