8-K 1 mit04002_10505.txt 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): May 25, 2005 MORTGAGE IT TRUST Mortgage-Backed Notes, Series 2004-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-119686-01 Pooling and Servicing Agreement) (Commission N/A (State or other File Number) IRS EIN jurisdiction of Incorporation) C/O Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On May 25, 2005 a distribution was made to holders of MORTGAGE IT TRUST, Mortgage-Backed Notes, Series 2004-2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2004-2 Trust, relating to the May 25, 2005 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. MORTGAGE IT TRUST Mortgage-Backed Notes, Series 2004-2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 5/31/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2004-2 Trust, relating to the May 25, 2005 distribution. EX-99.1

MortgageIT Trust Mortgage-Backed Notes Record Date: 14/3129/2005 Distribution Date: 25/25/2005 MortgageIT Trust Mortgage-Backed Notes Series 2004-2 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 A-1 61913PAG7 SEN 23.~~90000~~39000% ~~470~~450,~~106~~596,~~177~~461.7451 1,~~136~~272,~~089~~935.9300 57,~~335~~178,~~557~~441.3126 A-2 61913PAH5 SEN 23.~~98000~~47000% 5250,~~235~~067,~~004~~217.3726 ~~129~~144,~~716~~777.9370 ~~592~~797,~~850~~619.8862 M-1 61913PAM4 MEZ 3.~~08000~~57000% 5250,~~546~~365,~~143~~444.8626 ~~134~~149,~~868~~837.4420 ~~596~~802,~~382~~370.2167 M-2 61913PAN2 MEZ 3.~~20000~~69000% 2120,~~893~~985,~~980~~365.4684 5864,~~383~~530.9500 ~~248~~334,~~489~~317.7935 B-1 61913PAK8 SUB 34.~~73000~~22000% 1514,~~638~~989,~~698~~681.1385 4852,~~610~~713.2971 ~~177~~238,~~494~~800.3126 B-2 61913PAL6 SUB 45.~~68000~~17000% 7,~~818~~494,~~856~~369.7505 3032,~~493~~288.5424 88119,~~741~~392.5761 Owner Trust MIT0402OT OT 0.00000% 0.00 ~~920~~642,~~435~~394.0053 0.00 Totals ~~620~~594,~~238~~498,~~861~~539.3177 2,~~458~~359,~~598~~476.0838 79,~~039~~470,~~516~~941.0777

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~464~~443,~~770~~418,~~620~~020.4324 68,~~471~~451,~~647~~376.2426 0.00 A-2 0.00 5149,~~642~~269,~~153~~597.4964 ~~722~~942,~~567~~397.8132 0.00 M-1 0.00 5149,~~949~~563,~~761~~073.6559 ~~731~~952,~~250~~207.6587 0.00 M-2 0.00 2120,~~645~~651,~~490~~048.6648 ~~306~~398,~~873~~847.7435 0.00 B-1 0.00 1514,~~461~~750,~~203~~881.8259 ~~226~~291,~~104~~513.6097 0.00 B-2 0.00 7,~~730~~374,~~115~~976.1943 ~~119~~151,~~235~~680.1185 0.00 Owner Trust 0.00 0.00 ~~920~~642,~~435~~394.0053 0.00 Totals 0.00 ~~613~~585,~~199~~027,~~345~~597.2497 911,~~498~~830,~~114~~418.15 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-1 477,450,000.00 ~~470~~450,~~106~~596,~~177~~461.7451 0.00 57,~~335~~178,~~557~~441.3126 0.00 0.00 A-2 53,051,000.00 5250,~~235~~067,~~004~~217.3726 0.00 ~~592~~797,~~850~~619.8862 0.00 0.00 M-1 53,367,000.00 5250,~~546~~365,~~143~~444.8626 0.00 ~~596~~802,~~382~~370.2167 0.00 0.00 M-2 22,236,000.00 2120,~~893~~985,~~980~~365.4684 0.00 ~~248~~334,~~489~~317.7935 0.00 0.00 B-1 15,883,000.00 1514,~~638~~989,~~698~~681.1385 0.00 ~~177~~238,~~494~~800.3126 0.00 0.00 B-2 7,941,000.00 7,~~818~~494,~~856~~369.7505 0.00 88119,~~741~~392.5761 0.00 0.00 Owner Trust 0.00 0.00 0.00 0.00 0.00 0.00 Totals 629,928,000.00 ~~620~~594,~~238~~498,~~861~~539.3177 0.00 79,~~039~~470,~~516~~941.0777 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 57,~~335~~178,~~557~~441.3126 ~~464~~443,~~770~~418,~~620~~020.4324 0.~~97344354~~92872137 57,~~335~~178,~~557~~441.3126 A-2 ~~592~~797,~~850~~619.8862 5149,~~642~~269,~~153~~597.4964 0.~~97344354~~92872137 ~~592~~797,~~850~~619.8862 M-1 ~~596~~802,~~382~~370.2167 5149,~~949~~563,~~761~~073.6559 0.~~97344354~~92872137 ~~596~~802,~~382~~370.2167 M-2 ~~248~~334,~~489~~317.7935 2120,~~645~~651,~~490~~048.6648 0.~~97344354~~92872137 ~~248~~334,~~489~~317.7935 B-1 ~~177~~238,~~494~~800.3126 1514,~~461~~750,~~203~~881.8259 0.~~97344354~~92872137 ~~177~~238,~~494~~800.3126 B-2 88119,~~741~~392.5761 7,~~730~~374,~~115~~976.1943 0.~~97344354~~92872137 88119,~~741~~392.5761 Owner Trust 0.00 0.00 0.00000000 0.00 Totals 79,~~039~~470,~~516~~941.0777 ~~613~~585,~~199~~027,~~345~~597.2497 0.~~97344354~~92872137 79,~~039~~470,~~516~~941.0777

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 477,450,000.00 ~~984~~943.~~61865691~~75633367 0.00000000 1115.~~17511218~~03495918 0.00000000 A-2 53,051,000.00 ~~984~~943.~~61865695~~75633372 0.00000000 1115.~~17511225~~03495919 0.00000000 M-1 53,367,000.00 ~~984~~943.~~61865685~~75633369 0.00000000 1115.~~17511215~~03495924 0.00000000 M-2 22,236,000.00 ~~984~~943.~~61865713~~75633387 0.00000000 1115.~~17511198~~03495908 0.00000000 B-1 15,883,000.00 ~~984~~943.~~61865705~~75633382 0.00000000 1115.~~17511238~~03495939 0.00000000 B-2 7,941,000.00 ~~984~~943.~~61865634~~75633421 0.00000000 1115.~~17511271~~03495907 0.00000000 Owner Trust 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 1115.~~17511218~~03495918 ~~973~~928.~~44354473~~72137447 0.~~97344354~~92872137 1115.~~17511218~~03495918 A-2 0.00000000 1115.~~17511225~~03495919 ~~973~~928.~~44354470~~72137453 0.~~97344354~~92872137 1115.~~17511225~~03495919 M-1 0.00000000 1115.~~17511215~~03495924 ~~973~~928.~~44354470~~72137444 0.~~97344354~~92872137 1115.~~17511215~~03495924 M-2 0.00000000 1115.~~17511198~~03495908 ~~973~~928.~~44354470~~72137435 0.~~97344354~~92872137 1115.~~17511198~~03495908 B-1 0.00000000 1115.~~17511238~~03495939 ~~973~~928.~~44354467~~72137443 0.~~97344354~~92872137 1115.~~17511238~~03495939 B-2 0.00000000 1115.~~17511271~~03495907 ~~973~~928.~~44354489~~72137388 0.~~97344354~~92872137 1115.~~17511271~~03495907 Owner Trust 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-1 477,450,000.00 23.~~90000~~39000% ~~470~~450,~~106~~596,~~177~~461.7451 1,~~136~~272,~~089~~935.9300 0.00 0.00 A-2 53,051,000.00 23.~~98000~~47000% 5250,~~235~~067,~~004~~217.3726 ~~129~~144,~~716~~777.9370 0.00 0.00 M-1 53,367,000.00 3.~~08000~~57000% 5250,~~546~~365,~~143~~444.8626 ~~134~~149,~~868~~837.4420 0.00 0.00 M-2 22,236,000.00 3.~~20000~~69000% 2120,~~893~~985,~~980~~365.4684 5864,~~383~~530.9500 0.00 0.00 B-1 15,883,000.00 34.~~73000~~22000% 1514,~~638~~989,~~698~~681.1385 4852,~~610~~713.2971 0.00 0.00 B-2 7,941,000.00 45.~~68000~~17000% 7,~~818~~494,~~856~~369.7505 3032,~~493~~288.5424 0.00 0.00 Owner Trust 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 629,928,000.00 1,~~538~~717,~~163~~081.0885 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,~~136~~272,~~089~~935.9300 0.00 ~~464~~443,~~770~~418,~~620~~020.4324 A-2 0.00 0.00 ~~129~~144,~~716~~777.9370 0.00 5149,~~642~~269,~~153~~597.4964 M-1 0.00 0.00 ~~134~~149,~~868~~837.4420 0.00 5149,~~949~~563,~~761~~073.6559 M-2 0.00 0.00 5864,~~383~~530.9500 0.00 2120,~~645~~651,~~490~~048.6648 B-1 0.00 0.00 4852,~~610~~713.2971 0.00 1514,~~461~~750,~~203~~881.8259 B-2 0.00 0.00 3032,~~493~~288.5424 0.00 7,~~730~~374,~~115~~976.1943 Owner Trust 0.00 0.00 ~~920~~642,~~435~~394.0053 0.00 0.00 Totals 0.00 0.00 2,~~458~~359,~~598~~476.0838 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-1 477,450,000.00 23.~~90000~~39000% ~~984~~943.~~61865691~~75633367 2.~~37949509~~66611163 0.00000000 0.00000000 A-2 53,051,000.00 23.~~98000~~47000% ~~984~~943.~~61865695~~75633372 2.~~44513638~~72902867 0.00000000 0.00000000 M-1 53,367,000.00 3.~~08000~~57000% ~~984~~943.~~61865685~~75633369 2.~~52718796~~80767516 0.00000000 0.00000000 M-2 22,236,000.00 3.~~20000~~69000% ~~984~~943.~~61865713~~75633387 2.~~62564985~~90205073 0.00000000 0.00000000 B-1 15,883,000.00 34.~~73000~~22000% ~~984~~943.~~61865705~~75633382 3.~~06052320~~31887616 0.00000000 0.00000000 B-2 7,941,000.00 45.~~68000~~17000% ~~984~~943.~~61865634~~75633421 34.~~84001259~~06601687 0.00000000 0.00000000 Owner Trust 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.~~37949509~~66611163 0.00000000 ~~973~~928.~~44354473~~72137447 A-2 0.00000000 0.00000000 2.~~44513638~~72902867 0.00000000 ~~973~~928.~~44354470~~72137453 M-1 0.00000000 0.00000000 2.~~52718796~~80767516 0.00000000 ~~973~~928.~~44354470~~72137444 M-2 0.00000000 0.00000000 2.~~62564985~~90205073 0.00000000 ~~973~~928.~~44354470~~72137435 B-1 0.00000000 0.00000000 3.~~06052320~~31887616 0.00000000 ~~973~~928.~~44354467~~72137443 B-2 0.00000000 0.00000000 34.~~84001259~~06601687 0.00000000 ~~973~~928.~~44354489~~72137388 Owner Trust 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 912,~~717~~043,~~684~~043.6659 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 295,~~396~~562.6570 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 912,~~747~~048,~~081~~606.3129 Withdrawals Reimbursement for Servicer Advances 5028,~~848~~220.0917 Payment of Service Fee ~~198~~189,~~119~~967.0797 Payment of Interest and Principal 911,~~498~~830,~~114~~418.15 Total Withdrawals (Pool Distribution Amount) 912,~~747~~048,~~081~~606.3129 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~195~~187,~~512~~468.2439 Master Servicing Fee 2,~~606~~499.8358 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~198~~189,~~119~~967.0797

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 180 0 0 0 180 ~~5,654,328~~0.3100 0.00 0.00 0.00 ~~5,654,328~~0.3100 60 Days 52 0 0 0 52 1644,~~368,550~~800.4400 0.00 0.00 0.00 1644,~~368,550~~800.4400 90 Days 0 0 01 0 01 0.00 0.00 0221,600.00 0.00 0221,600.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 02 0 02 0.00 0.00 0450,950.0044 0.00 0450,950.0044 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 232 0 03 0 235 7644,~~022,878~~800.7500 0.00 0672,550.0044 0.00 71,~~022~~317,~~878~~350.7544 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~865801~~000000% 0.000000% 0.000000% 0.000000% 0.~~865801~~000000% 0.~~913867~~000000% 0.000000% 0.000000% 0.000000% 0.~~913867~~000000% 60 Days 0.~~240500~~100452% 0.000000% 0.000000% 0.000000% 0.~~240500~~100452% 0.~~221189~~109191% 0.000000% 0.000000% 0.000000% 0.~~221189~~109191% 90 Days 0.000000% 0.000000% 0.~~000000~~050226% 0.000000% 0.~~000000~~050226% 0.000000% 0.000000% 0.~~000000~~037526% 0.000000% 0.~~000000~~037526% 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~~100452% 0.000000% 0.~~000000~~100452% 0.000000% 0.000000% 0.~~000000~~076364% 0.000000% 0.~~000000~~076364% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 10.~~106301~~100452% 0.000000% 0.~~000000~~150678% 0.000000% 10.~~106301~~251130% 10.~~135056~~109191% 0.000000% 0.~~000000~~113890% 0.000000% 10.~~135056~~223080%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 295,~~396~~562.6570

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~095685~~099748% Weighted Average Net Coupon 4.~~720685~~724748% Weighted Average Pass-Through Rate 4.~~715685~~719748% Weighted Average Maturity (Stepdown Calculation ) ~~357~~354 Beginning Scheduled Collateral Loan Count 2,~~097~~021 Number Of Loans Paid In Full 1830 Ending Scheduled Collateral Loan Count 21,~~079~~991 Beginning Scheduled Collateral Balance ~~625~~599,~~639~~898,~~177~~856.9438 Ending Scheduled Collateral Balance ~~618~~590,~~599~~427,~~661~~914.8761 Ending Actual Collateral Balance at 3129-~~Jan~~Apr-2005 ~~618~~590,~~725~~527,~~573~~336.3164 Monthly P &I Constant 2,~~847~~736,~~892~~565.0841 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~191~~187,~~175~~121.0807 Unscheduled Principal 69,~~848~~283,~~340~~820.9970 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 5,400,316.63 Overcollateralized Amount 5,400,316.63 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount ~~920~~645,~~435~~206.0049

Filing Compare · MORTGAGEIT TRUST 2004-2, MORTGAGE-BACKED NOTES, SERIES 2004-2