Asset Backed Securities Corporation Home Equity Loan Trust
2004-HE4
Asset Backed Pass-Through Certificates, Series 2004-HE4

STATEMENT TO CERTIFICATEHOLDERS
Section 4.02 of the PSA, dated June 1, 2004

Distribution Date:

26-Nov-04

		Original	Beginning				Interest		Ending
		Certificate	Certificate	Principal	Interest	Realized Loss	Shortfall	Total	Certificate
Class	Cusip	Face Value	Balance (1)	Distribution	Distribution (2)	of Principal	Amount	Distribution	Balance (1)
A-1	04541GKA9	$195,000,000.00	$175,974,693.13	$6,496,309.77	$351,558.33	N/A	$0.00	$6,847,868.10	$169,478,383.36
A-2	04541GKB7	$25,040,000.00	$21,166,981.14	$458,103.15	$41,628.40	N/A	$0.00	$499,731.55	$20,708,877.99
M-1	04541GKC5	$16,300,000.00	$16,300,000.00	$0.00	$35,678.89	$0.00	$0.00	$35,678.89	$16,300,000.00
M-2	04541GKD3	$9,630,000.00	$9,630,000.00	$0.00	$22,106.20	$0.00	$0.00	$22,106.20	$9,630,000.00
M-3	04541GKE1	$5,930,000.00	$5,930,000.00	$0.00	$14,403.31	$0.00	$0.00	$14,403.31	$5,930,000.00
M-4	04541GKF8	$9,480,000.00	$9,480,000.00	$0.00	$26,396.53	$0.00	$0.00	$26,396.53	$9,480,000.00
M-5	04541GKG6	$5,480,000.00	$5,480,000.00	$0.00	$16,476.53	$0.00	$0.00	$16,476.53	$5,480,000.00
M-6	04541GKH4	$4,450,000.00	$4,450,000.00	$0.00	$15,753.00	$0.00	$0.00	$15,753.00	$4,450,000.00
M-7	04541GKJ0	$3,410,000.00	$3,410,000.00	$0.00	$12,829.18	$0.00	$0.00	$12,829.18	$3,410,000.00
M-8	04541GKK7	$4,150,000.00	$4,150,000.00	$0.00	$18,195.44	$0.00	$0.00	$18,195.44	$4,150,000.00
M-9	04541GKL5	$2,960,000.00	$2,960,000.00	$0.00	$12,977.96	$0.00	$0.00	$12,977.96	$2,960,000.00
M-10	04541GKM3	$3,998,000.00	$3,998,000.00	$0.00	$17,529.01	$0.00	$0.00	$17,529.01	$3,998,000.00
P	04541GKP6	$100.00	$100.00	$0.00	$87,578.87	$0.00	$0.00	$87,578.87	$100.00
X	04541GKN1	$0.00	$10,520,375.90	$0.00	$1,081,378.46	N/A	$0.00	$1,081,378.46	$10,520,375.90
R	04541GKQ4	$0.00	$0.00	$0.00	$0.00	N/A	$0.00	$0.00	$0.00
Total		$285,828,100.00	$262,929,774.27	$6,954,412.92	$1,754,490.11	$0.00	$0.00	$8,708,903.03	$255,975,361.35

			Interest		Ending		Current	Next*
	Principal	Interest	Carry-forward	Total	Certificate		Pass-Through	Pass-Through
Class	Distribution	Distribution	Amount	Distribution	Balance	Class	Interest Rate	Interest Rate
A-1	$33.31440908	$1.80286323	$0.00000000	$35.11727231	$869.11991467	A-1	2.24750%	2.49500%
A-2	$18.29485423	$1.66247604	$0.00000000	$19.95733027	$827.03186861	A-2	2.21250%	2.46000%
M-1	$0.00000000	$2.18888896	$0.00000000	$2.18888896	$1,000.00000000	M-1	2.46250%	2.71000%
M-2	$0.00000000	$2.29555556	$0.00000000	$2.29555556	$1,000.00000000	M-2	2.58250%	2.83000%
M-3	$0.00000000	$2.42888870	$0.00000000	$2.42888870	$1,000.00000000	M-3	2.73250%	2.98000%
M-4	$0.00000000	$2.78444409	$0.00000000	$2.78444409	$1,000.00000000	M-4	3.13250%	3.38000%
M-5	$0.00000000	$3.00666606	$0.00000000	$3.00666606	$1,000.00000000	M-5	3.38250%	3.63000%
M-6	$0.00000000	$3.54000000	$0.00000000	$3.54000000	$1,000.00000000	M-6	3.98250%	4.23000%
M-7	$0.00000000	$3.76222287	$0.00000000	$3.76222287	$1,000.00000000	M-7	4.23250%	4.48000%
M-8	$0.00000000	$4.38444337	$0.00000000	$4.38444337	$1,000.00000000	M-8	4.93250%	5.18000%
M-9	$0.00000000	$4.38444595	$0.00000000	$4.38444595	$1,000.00000000	M-9	4.93250%	5.18000%
M-10	$0.00000000	$4.38444472	$0.00000000	$4.38444472	$1,000.00000000	M-10	4.93250%	5.18000%
P	$0.00000000	$875,788.70000000	$0.00000000	$875,788.70000000	$1,000.00000000	P	N/A	N/A
X	$0.00000000	$0.00000000	$0.00000000	$0.00000000	$0.00000000	X	123.34675%	123.34675%
R	$0.00000000	$0.00000000	$0.00000000	$0.00000000	$0.00000000	R	0.00000%	0.00000%
						LIBOR	1.93250%	2.18000%
Please contact the Bondholder Relations Department of U.S. Bank National Association at								*estimated
(800) 934-6802 with any questions regarding this statement or your distribution.
U.S. BANK NATIONAL ASSOCIATION

Page 1

Asset Backed Securities Corporation Home Equity Loan Trust
2004-HE4
Asset Backed Pass-Through Certificates, Series 2004-HE4

STATEMENT TO CERTIFICATEHOLDERS
Section 4.02 of the PSA, dated June 1, 2004

Distribution Date:

26-Nov-04

		GROUP 1	GROUP 2	TOTAL
(i)	Principal Distributions:
	Beginning Balance	243,595,849.02	29,854,301.15	273,450,150.17
	Scheduled Principal	199,713.75	28,261.21	227,974.96
	Prepayments (Includes Curtailments)	6,296,596.02	429,841.94	6,726,437.96
	Net Liquidation Proceeds	0.00	0.00	0.00
	Loan Principal Purchase Prices	0.00	0.00	0.00
	Total Principal Remittance	6,496,309.77	458,103.15	6,954,412.92
	Net Realized Losses	0.00	0.00	0.00
	Ending Balance	237,099,539.25	29,396,198.00	266,495,737.25
	Ending Count	3,278	234	3,512

(ii)

Aggregate Ending Collateral Balance

266,495,737.25

(iii)

Ending Overcollateralization Amount

10,520,375.90

(iv)

Number of Liquidated Loans

(v)	Interest Distributions:
	Scheduled Interest - Net of Servicing Fee	1,497,805.75	169,172.85	1,666,978.60
	Less Relief Act Interest Shortfall	68.25	0.00	68.25
	Less Net Prepayment Interest Shortfall	0.00	0.00	0.00
		1,497,737.50	169,172.85	1,666,910.35

(vi)	Servicing Fee:
	GROUP 1	101,413.02
	GROUP 2	12,439.37
	TOTAL	113,852.39

(vii)	Advances	Current Aggregate Advances as of determination date				162,234.08
		Outstanding Aggregate Advances as of end of prior calendar month				610,484.46

Page 2

Asset Backed Securities Corporation Home Equity Loan Trust
2004-HE4
Asset Backed Pass-Through Certificates, Series 2004-HE4

STATEMENT TO CERTIFICATEHOLDERS
Section 4.02 of the PSA, dated June 1, 2004

Distribution Date:

26-Nov-04

(ix)

Delinquency Information

	30-59 days delinquent		60-89 days delinquent		90 or more days delinquent
	Count	Balance	Count	Balance	Count	Balance
Group 1	109	8,174,173.29	45	3,179,981.33	47	2,773,644.66
Group 2	7	476,882.33	4	936,487.89	4	199,576.80
Total	116	8,651,055.62	49	4,116,469.22	51	2,973,221.46
*Note: The above statistics do not include loans in foreclosure or bankruptcy proceedings or REO properties.

	Outstanding Loans		Foreclosure		Bankruptcy		REO
	Count	Balance	Count	Balance	Count	Balance	Count	Balance	Market Value
Group 1	3,278	237,099,539.25	32	1,978,853.28	10	677,849.03	3	141,611.80	142,618.72
Group 2	234	29,396,198.00	2	391,676.56	2	110,606.50	0	0.00	0.00
Total	3,512	266,495,737.25	34	2,370,529.84	12	788,455.53	3	141,611.80	142,618.72

Interest Shortfall
	Total	Realized	Prepayment	Relief Act	Net
	Unpaid	Losses	Interest	Interest	WAC Rate
			Shortfall	Shortfall	Carryover
A-1	0.00	0.00	0.00	0.00	0.00
A-2	0.00	0.00	0.00	0.00	0.00
M-1	0.00	0.00	0.00	0.00	0.00
M-2	0.00	0.00	0.00	0.00	0.00
M-3	0.00	0.00	0.00	0.00	0.00
M-4	0.00	0.00	0.00	0.00	0.00
M-5	0.00	0.00	0.00	0.00	0.00
M-6	0.00	0.00	0.00	0.00	0.00
M-7	0.00	0.00	0.00	0.00	0.00
M-8	0.00	0.00	0.00	0.00	0.00
M-9	0.00	0.00	0.00	0.00	0.00
M-10	0.00	0.00	0.00	0.00	0.00
P	0.00	0.00	0.00	0.00	0.00
X	0.00	0.00	0.00	68.25	0.00
	0.00	0.00	0.00	68.25	0.00

(x)	Number of Loans for which Prepayment Premiums were collected	43
	Number of Loans for which Prepayment Premiums were scheduled	64
	Principal Balance of Loans for which Prepayment Premiums were collected	3,511,664.00
	Current amount of Prepayment Premiums	87,578.87

(xi)	Realized Losses incurred during the related Due Period					0.00
	Cumulative Realized Losses since Startup Day					83,816.12

(xii)	Weighted Average Term to Maturity of Mortgage Loans	355
	Weighted Average Gross Coupon of Mortgage Loans	7.83123%
	Weighted Average Net Coupon of Mortgage Loans	7.33123%

Page 3

Asset Backed Securities Corporation Home Equity Loan Trust
2004-HE4
Asset Backed Pass-Through Certificates, Series 2004-HE4

STATEMENT TO CERTIFICATEHOLDERS
Section 4.02 of the PSA, dated June 1, 2004

Distribution Date:

26-Nov-04

(xiii)

Aggregate number of Mortgage Loans in the pool

3,512

(xiv)

Overcollateralization Target Amount

10,520,375.90

(xv)

Credit Enhancement Percentage

28.63399%

(xvi)

Overcollateralization Increase Amount

0.00

(xvii)

Overcollateralization Release Amount

0.00

(xviii)

Overcollateralization Deficiency Amount

0.00

(xix)

Excess Overcollateralized Amount

0.00

(xx)	Payment from Subgroup 1 Yield Maintenance Agreement					0.00
	Subgroup 2 Yield Maintenance Agreement					0.00
	Subordinate Yield Maintenance Agreement					0.00

(xxi)

Net Monthly Excess Cash Flow

1,081,377.57

(xxii)

Extra Ordinary Trust Fund Expenses

0.00

(xxiii)

Trigger Event Occurence

(xxiv)

Step Down Date Occurred

(xxv)	Subgroup 1 Net WAC Rate	6.9341%
	Subgroup 2 Net WAC Rate	6.3749%
	Subordinate Net WAC Rate	6.8704%

(xxvi)

Available Distribution Amount

8,708,902.14

(xxvii)

Deposit to Net WAC Reserve Fund

0.89

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Asset Backed Pass-Through Certificates, Series 2004-HE4 8-K