8-K 1 d216554.txt MORTGAGE ASSET SECURITIZATION TRANSACTIONS INC ================================================================================ 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): March 22, 2004 MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. (AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT, DATED AS OF MARCH 1, 2004, PROVIDING FOR THE ISSUANCE OF MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-OPT1) MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. ------------------------------------------------ (Exact name of registrant as specified in its charter) --------------------------------------------------------------------------------

Registrant's telephone number, including area code: (212) 713-2000 -------------- ================================================================================ -2- Item 2. ACQUISITION OR DISPOSITION OF ASSETS Description of the Certificates and the Mortgage Pool On March 30, 2004, a single series of certificates, entitled MASTR Asset Backed Securities Trust 2004-OPT1, Mortgage Pass-Through Certificates, Series 2004-OPT1 (the "Certificates"), were issued pursuant to a pooling and servicing agreement, dated as of March 1, 2004 (the "Agreement"), attached hereto as Exhibit 4.1, among Mortgage Asset Securitization Transactions, Inc. as depositor (the "Depositor"), Option One Mortgage Corporation as master servicer (the "Master Servicer") and Wells Fargo Bank, N.A. as trustee (the "Trustee"). The Certificates consist of thirteen classes of certificates (collectively, the "Certificates"), designated as the "Class A-1 Certificates", "Class A-2 Certificates", "Class A-3 Certificates", "Class M-1 Certificates", "Class M-2 Certificates", "Class M-3 Certificates", "Class M-4 Certificates", "Class M-5 Certificates", "Class M-6 Certificates", "Class M-7 Certificates", "Class CE Certificates", "Class P Certificates" and "Class R Certificates". The Certificates evidence in the aggregate the entire beneficial ownership interest in a trust fund (the "Trust Fund"), consisting of a pool of mortgage loans (the "Mortgage Pool'") of conventional, one- to four- family, adjustable rate and fixed rate, first and second lien mortgage loans having original terms to maturity up to 30 years (the "Mortgage Loans"). The Mortgage Pool consists of Mortgage Loans having an aggregate principal balance of $679,851,854 as of March 1, 2004 (the "Cut-off Date"). The Mortgage Loans were purchased pursuant to the Mortgage Loan Purchase Agreement, dated March 24, 2004, among UBS Real Estate Securities Inc. ("UBSRES"), the Depositor and Option One Mortgage Corporation (the "Purchase Agreement"). The Class A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class M-1 Certificates, the Class M-2 Certificates, the Class M-3 Certificates, the Class M-4 Certificates, the Class M-5 Certificates, the Class M-6 Certificates and the Class M-7 Certificates were sold by the Depositor to UBS Securities LLC (the "Underwriter"), pursuant to an Underwriting Agreement, dated March 24, 2004 (the "Underwriting Agreement") between the Depositor and the Underwriter. The Certificates have the following initial Certificate Balances and Pass-Through Rates: -3- Initial Aggregate Certificate Principal Designation Pass-Through Rate Balance ----------- ----------------- ------- Class A-1 Variable $ 240,738,000.00 Class A-2 Variable $ 129,838,000.00 Class A-3 Variable $ 183,503,000.00 Class M-1 Variable $ 42,151,000.00 Class M-2 Variable $ 34,333,000.00 Class M-3 Variable $ 10,538,000.00 Class M-4 Variable $ 8,158,000.00 Class M-5 Variable $ 8,838,000.00 Class M-6 Variable $ 6,799,000.00 Class M-7 Variable $ 7,138,000.00 Class CE Variable $ 7,817,754.23 Class P N/A $ 100.00 Class R N/A 100.00% The Certificates, other than the Class CE Certificates, the Class P Certificates and the Class R Certificates, and the Mortgage Loans are more particularly described in the Prospectus, dated January 27, 2004 and the Prospectus Supplement, dated March 24, 2004, as previously filed with the Securities and Exchange Commission pursuant to Rule 424(b). The Class CE Certificates, the Class P Certificates and the Class R Certificates have not been and will not be publicly offered by the Depositor. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Prospectus Supplement. Item 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Not applicable (b) Not applicable (c) Exhibits -4- EXHIBIT NO. DESCRIPTION 4.1 Pooling and Servicing Agreement, dated as of March 1, 2004, by and among Mortgage Asset Securitization Transactions, Inc. as depositor (the "Depositor"), Option One Mortgage Corporation as master servicer (the "Master Servicer") and Wells Fargo Bank, N.A. as trustee (the "Trustee"), relating to the Series 2004-OPT1 Certificates. -5- SIGNATURES 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 thereunto duly authorized. Dated: April 9, 2004 MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. By: /s/ Glenn McIntyre -------------------------------- Name: Glenn McIntyre Title: Director By: /s/ Steven Warjanka -------------------------------- Name: Steven Warjanka Title: Director INDEX TO EXHIBITS

Exhibit 4.1

MASTR ASSET BACKED SECURITIES TRUST 2004-OPT1 8-K