8-K 1 eight-k.txt 8-K 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 - December 27, 2004 ---------------------------------- (Date of Earliest Event Reported) POPULAR ABS, INC. -------------------------------------------------------------------------------- (as depositor under a certain Pooling and Servicing Agreement dated as of March 31, 2004, providing for the issuance of Mortgage Pass-Through Certificates, Series 2004-2) (Exact Name of Registrant as specified in its charter) Delaware 333-104580-04 52-2029487 ------------------------ --------------------- ----------------------- (State of Incorporation) (Commission File No.) (IRS Employer I.D. No.) 103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803 ----------------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (302) 478-6160 Item 8.01. Other Events. ------------------------------ Attached hereto as Annex A is a copy of the Statement to Certificateholders sent to Class AF-1, AF-2, AF-3, AF-4, AF-5, AF-6, AV-1, AV-2, M-1, M-2, M-3, M-4, B-1 and B-2 Certificateholders with respect to the December 27, 2004 Distribution Date. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. POPULAR ABS, INC. By: /s/ James H. Jenkins --------------------- James H. Jenkins, Executive Vice President and CFO Dated: January 5, 2005 3 Page 1 of 8

-------------------------------------------------------------------------------- IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Nadezhka Thomas JPMorgan Chase Bank, N.A. - Structured Finance Services 4 New York Plaza, 6th Floor, New York, New York 10004 Tel: (212) 623-4493 Fax: (212) 623-5930 Email: Nadezhka.Thomas@chase.com -------------------------------------------------------------------------------- [Graphic Appears Here] COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. -------------------------------------------------------------------------------- Page 2 of 8 -------------------------------------------------------------------------------- EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-2 DECEMBER 27, 2004 -------------------------------------------------------------------------------- Sec. 4.03(a)(i) Funds Allocable to Certificate Principal Group I Scheduled Principal 411,809.98 Group I Curtailments 24,865.35 Group I Prepayments 10,760,649.44 Group I Repurchases 0.00 Group I Liquidation Proceeds 0.00 Group II-A Scheduled Principal 132,450.02 Group II-A Curtailments 7,916.00 Group II-A Prepayments 6,234,570.01 Group II-A Repurchases 0.00 Group II-A Liquidation Proceeds 0.00 Group II-B Scheduled Principal 53,664.21 Group II-B Curtailments 266.00 Group II-B Prepayments 3,157,629.16 Group II-B Repurchases 0.00 Group II-B Liquidation Proceeds 0.00 Extra Principal Distribution Amount 1,708,523.79 Sec. 4.03 (a)(ii) Interest Distribution Amounts Interest Distribution - AF-1 216,921.37 Unpaid Interest - AF-1 0.00 Remaining Unpaid Interest - AF-1 0.00 Interest Distribution - AF-2 81,087.98 Unpaid Interest - AF-2 0.00 Remaining Unpaid Interest - AF-2 0.00 Interest Distribution - AF-3 206,480.73 Unpaid Interest - AF-3 0.00 Remaining Unpaid Interest - AF-3 0.00 Interest Distribution - AF-4 70,883.81 Unpaid Interest - AF-4 0.00 Remaining Unpaid Interest - AF-4 0.00 Interest Distribution - AF-5 56,562.46 Unpaid Interest - AF-5 0.00 Remaining Unpaid Interest - AF-5 0.00 Interest Distribution - AF-6 85,349.45 Unpaid Interest - AF-6 0.00 Remaining Unpaid Interest - AF-6 0.00 Interest Distribution - AV-1 299,787.24 Unpaid Interest - AV-1 0.00 Remaining Unpaid Interest - AV-1 0.00 [Graphic Appears Here] COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. -------------------------------------------------------------------------------- Page 3 of 8 -------------------------------------------------------------------------------- EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-2 DECEMBER 27, 2004 -------------------------------------------------------------------------------- Interest Distribution - AV-2 121,424.59 Unpaid Interest - AV-2 0.00 Remaining Unpaid Interest - AV-2 0.00 Interest Distribution - M-1 254,376.57 Unpaid Interest - M-1 0.00 Remaining Unpaid Interest - M-1 0.00 Interest Distribution - M-2 165,389.56 Unpaid Interest - M-2 0.00 Remaining Unpaid Interest - M-2 0.00 Interest Distribution - M-3 38,105.33 Unpaid Interest - M-3 0.00 Remaining Unpaid Interest - M-3 0.00 Interest Distribution - M-4 35,998.30 Unpaid Interest - M-4 0.00 Remaining Unpaid Interest - M-4 0.00 Interest Distribution - B-1 24,241.70 Unpaid Interest - B-1 0.00 Remaining Unpaid Interest - B-1 0.00 Interest Distribution - B-2 28,987.99 Unpaid Interest - B-2 0.00 Remaining Unpaid Interest - B-2 0.00 Interest Reductions Net Prepayment Interest Shortfalls 0.00 Relief Act Reductions 217.06 Class AF-1 Interest Reduction 26.81 Class AF-2 Interest Reduction 10.02 Class AF-3 Interest Reduction 25.52 Class AF-5 Interest Reduction 6.99 Class AF-4 Interest Reduction 17.52 Class AF-6 Interest Reduction 10.55 Class AV-1 Interest Reduction 37.05 Class AV-2 Interest Reduction 15.01 Class M-1 Interest Reduction 31.43 Class M-2 Interest Reduction 20.44 Class M-3 Interest Reduction 4.71 Class M-4 Interest Reduction 4.45 Class B-1 Interest Reduction 3.00 Class B-2 Interest Reduction 3.58 [Graphic Appears Here] COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. --------------------------------------------------------------------------------

Page 5 of 8 -------------------------------------------------------------------------------- EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-2 DECEMBER 27, 2004 ------------------------------------------------------------------------------- Section 4.03(a)(ix) A Group I, Group II-A, and Group II-B Loans Delinquent -------------------------------------------------------- Group 1 -------------------------------------------------------- Period Number Principal Balance Percentage -------------------------------------------------------- 0-30 days 238 32,218,910.94 8.28% -------------------------------------------------------- 31-60 days 38 5,489,857.67 1.41% -------------------------------------------------------- 61-90 days 12 1,982,520.90 0.51% -------------------------------------------------------- 91+days 3 255,755.62 0.07% -------------------------------------------------------- Total 291 39,947,045.13 10.27% -------------------------------------------------------- -------------------------------------------------------- Group 2 -------------------------------------------------------- Period Number Principal Balance Percentage -------------------------------------------------------- 0-30 days 76 10,394,901.67 7.32% -------------------------------------------------------- 31-60 days 22 2,437,904.63 1.72% -------------------------------------------------------- 61-90 days 4 369,617.09 0.26% -------------------------------------------------------- 91+days 6 812,441.69 0.57% -------------------------------------------------------- Total 108 14,014,865.08 9.87% -------------------------------------------------------- -------------------------------------------------------- Group 3 -------------------------------------------------------- Period Number Principal Balance Percentage -------------------------------------------------------- 0-30 days 39 6,343,129.04 11.09% -------------------------------------------------------- 31-60 days 3 500,477.75 0.87% -------------------------------------------------------- 61-90 days 0 0.00 0.00% -------------------------------------------------------- 91+days 3 749,956.50 1.31% -------------------------------------------------------- Total 45 7,593,563.29 13.27% -------------------------------------------------------- Sec. 4.03 (a)(ix) B Group I, Group II-A, and Group II-B Loans in Foreclosure ------------------------------------------ Group 1 ------------------------------------------ Number Principal Balance Percentage ------------------------------------------ 14 2,105,154.83 0.54% ------------------------------------------ ------------------------------------------ Group 2 ------------------------------------------ Number Principal Balance Percentage 9 1,419,758.07 1.00% ------------------------------------------ ------------------------------------------ Group 3 ------------------------------------------ Number Principal Balance Percentage ------------------------------------------ 3 625,377.32 1.09% ------------------------------------------ Sec. 4.03(a)(x),(xi) Group I, Group II-A, and Group II-B Loans in REO [Graphic Appears Here] COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. --------------------------------------------------------------------------------

Equity One Mortgage Pass-Through Trust 2004-2 8-K