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

~~Page 1 of 8~~ ------------------------------------------------------------------------------------------------------------------------------------ EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-2 STATEMENT TO CERTIFICATEHOLDERS ~~SEPTEMBER~~DECEMBER 27, 2004 ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ DISTRIBUTION IN DOLLARS ------------------------------------------------------------------------------------------------------------------------------------ ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL ~~LOSSES~~LOSES INTEREST BALANCE ------------------------------------------------------------------------------------------------------------------------------------ AF1 165,600,000.00 ~~141~~109,~~534~~987,~~213~~130.2849 812,~~859~~117,~~655~~795.5639 ~~223~~216,~~778~~921.2937 912,~~083~~334,~~433~~716.8576 0.00 0.00 ~~132~~97,~~674~~869,~~557~~335.7210 AF2 34,400,000.00 34,400,000.00 0.00 81,~~089~~087.7898 81,~~089~~087.7898 0.00 0.00 34,400,000.00 AF3 70,500,000.00 70,500,000.00 0.00 206,~~485~~480.3373 206,~~485~~480.3373 0.00 0.00 70,500,000.00 AF4 18,400,000.00 18,400,000.00 0.00 70,~~886~~883.9681 70,~~886~~883.9681 0.00 0.00 18,400,000.00 AF5 13,057,000.00 13,057,000.00 0.00 56,~~563~~562.7246 56,~~563~~562.7246 0.00 0.00 13,057,000.00 AF6 22,000,000.00 22,000,000.00 0.00 85,~~351~~349.3545 85,~~351~~349.3545 0.00 0.00 22,000,000.00 AV1 175,000,000.00 ~~158~~143,~~869~~839,~~178~~845.0480 46,~~779~~898,~~469~~984.2853 ~~270~~299,~~116~~787.4324 57,~~049~~198,~~585~~771.7177 0.00 0.00 ~~154~~136,~~089~~940,~~708~~861.7627 AV2 76,443,000.00 6958,~~591~~020,~~367~~607.6930 3,~~694~~475,~~109~~564.7404 ~~118~~121,~~960~~424.1959 3,~~813~~596,~~069~~988.9363 0.00 0.00 6554,~~897~~545,~~257~~043.9526 M1 58,800,000.00 58,800,000.00 0.00 254,~~382~~376.2257 254,~~382~~376.2257 0.00 0.00 58,800,000.00 M2 35,700,000.00 35,700,000.00 0.00 165,~~393~~389.2456 165,~~393~~389.2456 0.00 0.00 35,700,000.00 M3 8,050,000.00 8,050,000.00 0.00 38,~~106~~105.1833 38,~~106~~105.1833 0.00 0.00 8,050,000.00 M4 7,350,000.00 7,350,000.00 0.00 35,~~999~~998.1030 35,~~999~~998.1030 0.00 0.00 7,350,000.00 B1 7,350,000.00 7,350,000.00 0.00 2124,~~995~~241.7170 2124,~~995~~241.7170 0.00 0.00 7,350,000.00 B2 7,350,000.00 7,350,000.00 0.00 2728,~~048~~987.3299 2728,~~048~~987.3299 0.00 0.00 7,350,000.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ------------------------------------------------------------------------------------------------------------------------------------ TOTALS 700,000,000.00 ~~652~~594,~~951~~804,~~759~~583.0159 1722,~~333~~492,~~234~~343.5896 1,~~656~~685,~~156~~597.8208 1824,~~989~~177,~~391~~941.4004 0.00 0.00 ~~635~~572,~~618~~312,~~524~~239.4363 ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ X 700,000,000.00 ~~661~~609,~~521~~239,~~626~~180.5560 0.00 3104,~~134~~441.6471 3104,~~134~~441.6471 0.00 0.00 ~~646~~588,~~221~~455,~~015~~360.0543 ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES ----------------------------------------------------------------------------------------------------------------------------------- CURRENT BEGINNING ENDING PASS-THRU CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS RATE ----------------------------------------------------------------------------------------------------------------------------------- AF1 294751EB4 854.67520097 53.50033551 1.35131818 54.85165368 801.17486546 AF1 1.725000% AF2 294751EC2 1,000.00000000 0.00000000 2.35726105 2.35726105 1,000.00000000 AF2 2.829000% AF3 294751ED0 1,000.00000000 0.00000000 2.92886993 2.92886993 1,000.00000000 AF3 3.515000% AF4 294751EE8 1,000.00000000 0.00000000 3.85255217 3.85255217 1,000.00000000 AF4 4.624000% AF5 294751EF5 1,000.00000000 0.00000000 4.33206096 4.33206096 1,000.00000000 AF5 5.199000% AF6 294751EG3 1,000.00000000 0.00000000 3.87960682 3.87960682 1,000.00000000 AF6 4.656000% AV1 294751EH1 907.82387451 27.31125303 1.54352246 28.85477549 880.51262149 AV1 1.855000% AV2 294751EJ7 910.36939537 48.32502309 1.55619468 49.88121777 862.04437228 AV2 1.865000% M1 294751EK4 1,000.00000000 0.00000000 4.32622823 4.32622823 1,000.00000000 M1 5.192000% M2 294751EL2 1,000.00000000 0.00000000 4.63286387 4.63286387 1,000.00000000 M2 5.560000% M3 294751EM0 1,000.00000000 0.00000000 4.73368696 4.73368696 1,000.00000000 M3 5.681000% M4 294751EN8 1,000.00000000 0.00000000 4.89783673 4.89783673 1,000.00000000 M4 5.878000% B1 294751EP3 1,000.00000000 0.00000000 2.99261361 2.99261361 1,000.00000000 B1 3.265000% B2 294751EQ1 1,000.00000000 0.00000000 3.68004354 3.68004354 1,000.00000000 B2 4.015000% ----------------------------------------------------------------------------------------------------------------------------------- TOTALS 932.78822716 24.76176369 2.36593831 27.12770200 908.02646347 ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- X N/A 945.03089507 0.00000000 0.00447806 0.00447806 923.17287864 X 0.005686% -----------------------------------------------------------------------------------------------------------------------------------

~~Sec.~~---------------------------------------------------------------------------------------------------------- ~~4.03(a)(iii)~~-------------------- ~~Available~~FACTOR ~~Funds~~INFORMATION ~~Shortfall~~PER ~~Class~~$1000 ~~AF-1~~OF ~~Available~~ORIGINAL ~~Funds~~FACE ~~Shortfall~~PASS-THROUGH ~~0.00~~RATES ~~Class~~---------------------------------------------------------------------------------------------------------- AF-2------------------- ~~Available~~CURRENT ~~Funds~~BEGINNING ~~Shortfall~~ENDING ~~0.00 Class AF~~PASS-3THRU ~~Available~~CLASS ~~Funds~~CUSIP ~~Shortfall~~PRINCIPAL ~~0.00~~PRINCIPAL ~~Class~~INTEREST ~~AF-4~~TOTAL ~~Available~~PRINCIPAL ~~Funds~~CLASS ~~Shortfall~~RATE ~~0.00~~---------------------------------------------------------------------------------------------------------- ~~Class AF~~-5------------------- ~~Available~~AF1 ~~Funds~~294751EB4 ~~Shortfall~~664.17349330 073.0017509293 ~~Class~~1.30991165 ~~AF-6~~74.48500459 ~~Available~~590.99840036 ~~Funds~~AF1 ~~Shortfall 0~~2.00290630 ~~Class~~% ~~AV-1~~AF2 ~~Available~~294751EC2 ~~Funds~~1,000.00000000 ~~Shortfall~~ 0.0000000000 ~~Class~~2.35720872 ~~AV-~~2.35720872 ~~Available~~1,000.00000000 ~~Funds~~AF2 ~~Shortfall 0~~2.00829000 ~~Class~~% ~~M-1~~AF3 ~~Available~~294751ED0 ~~Funds~~1,000.00000000 ~~Shortfall~~ 0.0000000000 ~~Class~~2.92880468 M-2.92880468 ~~Available Funds Shortfall 0~~1,000.0000000000 ~~Class~~AF3 M-3.515000 ~~Available~~% ~~Funds~~AF4 ~~Shortfall~~294751EE8 01,000.0000000000 ~~Class M-4 Available Funds Shortfall~~ 0.0000000000 ~~Class~~3.85238098 B-3.85238098 1,000.00000000 ~~Available~~AF4 ~~Funds Shortfall 0~~4.00624000 ~~Class~~% ~~B-2~~AF5 ~~Available~~294751EF5 ~~Funds~~1,000.00000000 ~~Shortfall~~ 0.0000000000 ~~Sec~~4.33196446 4.~~03(a)(v)~~33196446 ~~Pool Principal Balances Group I Beginning Pool Balance 428~~1,~~838,789~~000.2200000000 ~~Group~~AF5 I5.199000 ~~Ending~~% ~~Pool~~AF6 ~~Balance~~294751EG3 ~~421~~1,~~018,082~~000.2900000000 ~~Group~~0.00000000 ~~II-A~~3.87952045 ~~Beginning~~3.87952045 ~~Pool Balance 161~~1,~~854,454~~000.4400000000 ~~Group~~AF6 ~~II-A~~4.656000 ~~Ending~~% ~~Pool~~AV1 ~~Balance~~294751EH1 ~~157,635,461~~821.0294197600 ~~Group~~39.42276874 ~~II-B~~1.71306994 ~~Beginning~~41.13583869 ~~Pool~~782.51920726 ~~Balance~~AV1 ~~70,828,382~~2.89420630 ~~Group~~% ~~II-B~~AV2 ~~Ending~~294751EJ7 ~~Pool~~759.00484413 ~~Balance~~45.46608637 ~~67,567,471~~1.7458843308 ~~Total~~47.05451945 ~~Beginning~~713.53875777 ~~Pool~~AV2 ~~Balance 661,521,626~~2.55430630 ~~Total~~% ~~Ending~~M1 ~~Pool~~294751EK4 ~~Balance 646~~1,~~221,015~~000.0500000000 ~~Sec~~0.00000000 4.~~03(a)(vi)~~32613214 ~~Servicing~~4.32613214 ~~Fee Group I Servicing Fee 178~~1,~~682~~000.8300000000 ~~Group~~M1 ~~II-A Servicing Fee 67,439~~5.36192000 ~~Group~~% ~~II-B~~M2 ~~Servicing~~294751EL2 ~~Fee 29~~1,~~511~~000.8300000000 ~~Sec~~0.00000000 4.~~03(a)(viii)~~63276078 ~~Delinquency~~4.63276078 ~~Advances~~1,000.00000000 ~~Group~~M2 I5.560000 ~~Delinquency~~% ~~Advances~~M3 ~~Included~~294751EM0 in1,000.00000000 ~~Current Distribution~~ 0.0000000000 ~~Group~~4.73358137 I4.73358137 ~~Recouped~~1,000.00000000 ~~Advances~~M3 ~~Included~~5.681000 in% ~~Current~~M4 ~~Distribution~~294751EN8 01,000.0000000000 ~~Group I Recouped Advances From Liquidations~~ 0.0000000000 ~~Group~~4.89772789 I4.89772789 ~~Aggregate~~1,000.00000000 ~~Amount~~M4 ~~of Advances Outstanding 0~~5.00878000 ~~Group~~% ~~II-A~~B1 ~~Delinquency~~294751EP3 ~~Advances~~1,000.00000000 ~~Included in Current Distribution~~ 0.0000000000 ~~Group~~3.29819048 ~~II-A~~3.29819048 ~~Recouped~~1,000.00000000 ~~Advances~~B1 ~~Included~~3.830630 in% ~~Current~~B2 ~~Distribution~~294751EQ1 01,000.0000000000 ~~Group II-A Recouped Advances From Liquidations~~ 0.0000000000 ~~Group~~3.94394422 ~~II-A~~3.94394422 ~~Aggregate~~1,000.00000000 ~~Amount~~B2 ~~of Advances Outstanding 0~~4.00580630 ~~Group~~% II-B--------------------------------------------------------------------------------------------------------- ~~Delinquency~~-------------------- ~~Advances~~TOTALS ~~Included~~849.72083370 in32.13191994 ~~Current~~2.40799583 ~~Distribution~~34.53991577 ~~11,330~~817.2058891376 ~~Group~~---------------------------------------------------------------------------------------------------------- II-B------------------- ~~Recouped~~---------------------------------------------------------------------------------------------------------- ~~Advances~~-------------------- ~~Included~~X inN/A ~~Current~~870.34168657 ~~Distribution~~0.00000000 0.0014920244 ~~Group~~0.14920244 ~~II-B~~840.65051490 ~~Recouped~~X ~~Advances From Liquidations~~ 0.00205716 ~~Group~~% II-B--------------------------------------------------------------------------------------------------------- ~~Aggregate Amount of Advances Outstanding 11,330.20~~--------------------

-------------------------------------------------------------------------------- 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. --------------------------------------------------------------------------------

~~Section~~Page 4~~.03(a)(ix)~~ Aof ~~Group~~8 ~~I, Group II~~-~~A, and Group II~~-~~B Loans Delinquent~~ ---------------------------------------------------------------------------------------------- ~~Group 1~~ ----------------------------- EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-2 DECEMBER 27, 2004 --------------------------------------------------------------- ~~Period Number Principal Balance Percentage~~ -------------------------------------------------------------- Sec. 4.03(a)(iii) Available Funds Shortfall Class AF-~~-------------------------------~~1 Available Funds Shortfall 0.00 Class AF-302 ~~days~~Available ~~249~~Funds ~~34,723,784.86~~Shortfall 80.~~25%~~00 ~~----------------------------------------------------------------------------------------------~~Class 31AF-603 ~~days~~Available 15Funds ~~2,306,769.04~~Shortfall 0.~~55%~~00 ~~----------------------------------------------------------------------------------------------~~Class 61AF-904 ~~days~~Available 6Funds ~~812,866.22~~Shortfall 0.~~19%~~00 Class AF-~~---------------------------------------------------------------------------------------------~~5 ~~91+days~~Available 6Funds ~~1,172,315.65~~Shortfall 0.~~28%~~00 Class AF-~~---------------------------------------------------------------------------------------------~~6 ~~Total~~Available ~~276~~Funds ~~39,015,735.77~~Shortfall 90.~~27%~~00 ~~----------------------------------------------------------------------------------------------~~Class AV-~~---------------------------------------------------------------------------------------------~~1 ~~Group~~Available 2Funds Shortfall 0.00 Class AV-~~---------------------------------------------------------------------------------------------~~2 ~~Period~~Available ~~Number~~Funds ~~Principal~~Shortfall ~~Balance~~0.00 ~~Percentage~~Class M-~~---------------------------------------------------------------------------------------------~~1 Available Funds Shortfall 0.00 Class M-302 ~~days~~Available 93Funds ~~13,040,759.19~~Shortfall 80.~~27%~~00 ~~----------------------------------------------------------------------------------------------~~Class 31M-603 ~~days~~Available 11Funds ~~1,492,281.39~~Shortfall 0.~~95%~~00 ~~----------------------------------------------------------------------------------------------~~Class 61M-904 ~~days~~Available 1Funds ~~71,863.75~~Shortfall 0.~~05%~~00 Class B-~~---------------------------------------------------------------------------------------------~~1 ~~91+days~~Available 2Funds ~~146,010.09~~Shortfall 0.~~09%~~00 Class B-~~---------------------------------------------------------------------------------------------~~2 ~~Total~~Available ~~107~~Funds ~~14,750,914~~Shortfall 0.4200 9Sec.~~36%~~ ~~----------------------------------------------------------------------------------------------~~4.03(a)(v) ~~----------------------------------------------------------------------------------------------~~Pool ~~Group~~Principal 3Balances ~~----------------------------------------------------------------------------------------------~~Group ~~Period~~I ~~Number~~Beginning ~~Principal~~Pool Balance ~~Percentage~~400,473,124.26 ~~----------------------------------------------------------------------------------------------~~Group ~~0-30~~I ~~days~~Ending 29Pool 5Balance 389,~~450~~275,~~493~~799.9249 ~~8.07%~~Group II-~~---------------------------------------------------------------------------------------------~~A ~~31-60~~Beginning ~~days~~Pool 7Balance 1148,~~759~~334,~~828~~477.0788 ~~2.60%~~Group II-~~---------------------------------------------------------------------------------------------~~A ~~61-90~~Ending ~~days~~Pool 1Balance ~~209~~141,~~048~~959,541.2485 ~~0.31%~~Group II-~~---------------------------------------------------------------------------------------------~~B ~~91+days~~Beginning 0Pool ~~0.00~~Balance 060,431,578.~~00%~~46 Group II-~~---------------------------------------------------------------------------------------------~~B ~~Total~~Ending 37Pool 7Balance 57,~~419~~220,~~370~~019.2309 10Total Beginning Pool Balance 609,239,180.~~98%~~60 ~~----------------------------------------------------------------------------------------------~~Total Ending Pool Balance 588,455,360.43 Sec. 4.03 (a)(ixvi) BServicing Fee Group I Servicing Fee 166,863.80 Group II-A, ~~and~~Servicing Fee 61,806.03 Group II-B ~~Loans~~Servicing inFee ~~Foreclosure~~25,179.82 ~~------------------------------------------------~~Sec. 4.03(a)(viii) Delinquency Advances Group 1I ~~------------------------------------------------~~Delinquency ~~Number~~Advances ~~Principal~~Included ~~Balance~~in ~~Percentage~~Current ~~------------------------------------------------~~Distribution 80.00 ~~897~~Group I Recouped Advances Included in Current Distribution 22,~~587~~905.9223 Group I Recouped Advances From Liquidations 0.~~21%~~00 ~~------------------------------------------------~~Group ~~------------------------------------------------~~I Aggregate Amount of Advances Outstanding 12,481.96 Group II-A Delinquency Advances Included in Current Distribution 2,237.91 Group II-A Recouped Advances Included in Current Distribution 0.00 Group II-~~----------------------------------------------~~A ~~Number~~Recouped ~~Principal~~Advances ~~Balance~~From ~~Percentage~~Liquidations 0.00 Group II-~~-----------------------------------------------~~A 9Aggregate 1Amount of Advances Outstanding 10,~~249,067~~509.5995 Group II-B Delinquency Advances Included in Current Distribution 0.~~79%~~00 Group II-~~-----------------------------------------------~~B Recouped Advances Included in Current Distribution 0.00 Group II-~~-----------------------------------------------~~B Recouped Advances From Liquidations 0.00 Group 3II-B Aggregate Amount of Advances Outstanding 0.00 [Graphic Appears Here] COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. ------------------------------------------------ ~~Number Principal Balance Percentage~~ ------------------------------------------------ ~~1 185,112.52 0.27%~~ -----------------------------~~------------------- Sec. 4.03(a)(x),(xi) Group I,Group II-A, and Group II-B Loans in REO~~

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. --------------------------------------------------------------------------------

Page 6 of 8 ----------------------------------------------------------------------------------------------------------------------------- EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-2 DECEMBER 27, 2004 ----------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------ Group 1 ------------------------------------------------ Number Principal Balance Percentage ------------------------------------------------ 0 0.00 0.00% ------------------------------------------------ ------------------------------------------------ Group 2 ------------------------------------------------ Number Principal Balance Percentage ------------------------------------------------ 0 0.00 0.00% ------------------------------------------------ ------------------------------------------------ Group 3 ------------------------------------------------ Number Principal Balance Percentage ------------------------------------------------ 0 0.00 0.00% ------------------------------------------------ Market Value of Group I REO Loans 0.00 Market Value of Group II-A REO Loans 0.00 Market Value of Group II-B REO Loans 0.00 Sec. 4.03(a)(xii) Aggregate Stated Principal Balance of the Three Largest Loans Group I Three Largest Loans 1,~~785~~775,~~104~~231.9202 Group II-A Three Largest Loans 1,~~231~~227,~~283~~555.5053 Group II-B Three Largest Loans 2,~~227~~190,~~677~~298.4852 Sec. 4.03(a)(xiii) Net WAC Cap Carryover Class AV-1 Net WAC Cap Carryover Amounts Due 0.00 Class AV-1 Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Paid 0.00 Class AV-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Paid 0.00 Class B-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Paid 0.00 Class B-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Sec. 4.03(a)(xiv) Aggregate Principal Balance of Balloon Loans with Original Terms <= 36 Months and 60+ Contractually Past Due Group I Aggregate Principal Balance of Balloon Loans 0.00 Group II-A Aggregate Principal Balance of Balloon Loans 0.00 Group II-B Aggregate Principal Balance of Balloon Loans 0.00 Sec. 4.03 (a)(xv), (xxii) Realized Losses Group I Current Period Realized Losses 0.00 Group I Cumulative Realized Losses 0.00 [Graphic Appears Here] COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED. -----------------------------------------------------------------------------------------------------------------------------

Page 7 of 8 ----------------------------------------------------------------------------------------------------------------------------- EQUITY ONE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-2 DECEMBER 27, 2004 ----------------------------------------------------------------------------------------------------------------------------- Group II-A Current Period Realized Losses 0.00 Group II-A Cumulative Realized Losses 0.00 Group II-B Current Period Realized Losses 0.00 Group II-B Cumulative Realized Losses 0.00 Sec. 4.03 (a)(xvi) Reserve Fund Beginning Balance of Reserve Fund 0.00 Funds Withdrawn From Reserve Fund For Distribution 3104,~~125~~429.6815 Funds Deposited to Reserve Fund 3104,~~125~~429.6815 Ending Balance of Reserve Fund 0.00 Yield Maintenance Payment for Class AV1 272,~~175~~684.5237 Yield Maintenance Payment for Class AV2 ~~950~~31,744.1678 Sec. 4.03 (a)(xvii) Number of Loans Repurchased Group I Number of Loans Repurchased 0.00 Group II-A Number of Loans Repurchased 0.00 Group II-B Number of Loans Repurchased 0.00 Sec. 4.03 (a)(xviii) Weighted Average Mortgage Rate of Outstanding Loans (as of first day of related Due Period) Group I Weighted Average Mortgage Rate 7.3129% Group II-A Weighted Average Mortgage Rate 7.0304% Group II-B Weighted Average Mortgage Rate 7.0402% Sec. 4.03 (a)(xix) Weighted Average Remaining Term of Outstanding Loans Group I Weighted Average Remaining Term ~~325~~322.00 Group II-A Weighted Average Remaining Term ~~352~~349.00 Group II-B Weighted Average Remaining Term ~~352~~349.00 ~~Sec.~~[Graphic ~~4.03~~Appears ~~Overcollateralization~~Here] ~~Amounts~~COPYRIGHT (aC)~~(xxi),(xxii),(xxiii)~~ ~~Overcollateralization~~2001 ~~Amount 10,602,490~~J.~~62 Overcollateralization Target Amount 30,450,000~~P.00 ~~Overcollateralization~~MORGAN ~~Release~~CHASE ~~Amount~~& 0CO.00 ~~Overcollateralization~~ALL ~~Deficiency~~RIGHTS ~~Amount 19,847,509~~RESERVED.38 Sec. 4.03 (a)(xxiv) Trigger Events Has a Trigger Event Occurred and is continuing? NO Cumulative Realized Losses as a percentage of the Original Pool Balance 0.00% Senior Enhancement Percentage 19.28% Senior Specified Enhancement Percentage 44.30% Sec. 4.03 (a)(xxv) 60+ Day Delinquent Loans 60+ Day Delinquent Loans as a percentage of the current Pool Balance 0.73% Sec. 4.03 (a)(xxvi) Amount of Funds Collected by Trustee under Yield Maintenance Agreement 3,125.68-----------------------------------------------------------------------------------------------------------------------------

Filing Compare · Equity One Mortgage Pass-Through Trust 2004-2