C-BASS
MORTGAGE LOAN ASSET-BACKED CERTIFICATES
SERIES 2004-CB7

DISTRIBUTION STATEMENT

Distribution Date:

November 26, 2004

	Original	Beginning			Class Interest		Net WAC	Allocable	Ending
	Certificate	Certificate	Principal	Interest	Carryover	Total	Rate Carryover	Loss	Certificate
Class	Face Value	Balance	Distribution	Distribution	Shortfall	Distribution	Amount	Amount	Balance
AV-1	$137,409,000.00	$137,409,000.00	$2,171,635.22	$250,084.38	$0.00	$2,421,719.60	$0.00	$0.00	$135,237,364.78
AV-2A	$82,422,000.00	$82,422,000.00	$2,171,619.42	$137,186.84	$0.00	$2,308,806.26	$0.00	$0.00	$80,250,380.58
AV-2B	$28,607,000.00	$28,607,000.00	$0.00	$50,952.25	$0.00	$50,952.25	$0.00	$0.00	$28,607,000.00
AV-2C	$26,379,000.00	$26,379,000.00	$0.00	$50,882.16	$0.00	$50,882.16	$0.00	$0.00	$26,379,000.00
AF-1	$54,510,000.00	$54,510,000.00	$1,437,965.35	$142,089.40	$0.00	$1,580,054.75	$0.00	$0.00	$53,072,034.65
AF-2	$25,657,000.00	$25,657,000.00	$0.00	$83,107.30	$0.00	$83,107.30	$0.00	$0.00	$25,657,000.00
AF-3	$7,000,000.00	$7,000,000.00	$0.00	$27,090.00	$0.00	$27,090.00	$0.00	$0.00	$7,000,000.00
AF-4	$10,784,000.00	$10,784,000.00	$0.00	$45,993.76	$0.00	$45,993.76	$0.00	$0.00	$10,784,000.00
AF-5	$13,893,000.00	$13,893,000.00	$0.00	$53,082.84	$0.00	$53,082.84	$0.00	$0.00	$13,893,000.00
M-1	$27,618,000.00	$27,618,000.00	$0.00	$56,494.15	$0.00	$56,494.15	$0.00	$0.00	$27,618,000.00
M-2	$22,816,000.00	$22,816,000.00	$0.00	$55,189.37	$0.00	$55,189.37	$0.00	$0.00	$22,816,000.00
M-3	$6,244,000.00	$6,244,000.00	$0.00	$15,589.19	$0.00	$15,589.19	$0.00	$0.00	$6,244,000.00
B-1	$6,004,000.00	$6,004,000.00	$0.00	$17,324.88	$0.00	$17,324.88	$0.00	$0.00	$6,004,000.00
B-2	$5,283,000.00	$5,283,000.00	$0.00	$15,860.74	$0.00	$15,860.74	$0.00	$0.00	$5,283,000.00
B-3	$4,804,000.00	$4,804,000.00	$0.00	$14,796.32	$0.00	$14,796.32	$0.00	$0.00	$4,804,000.00
B-4	$7,445,000.00	$7,445,000.00	$0.00	$22,930.60	$0.00	$22,930.60	$0.00	$0.00	$7,445,000.00
N*	$20,610,000.00	$20,610,000.00	$1,715,974.64	$103,050.00	$0.00	$1,819,024.64	$0.00	N/A	$18,894,025.36
X*	N/A	$13,449,265.61	$0.00	$0.00	$0.00	$0.00	$0.00	N/A	$13,449,265.61
Total	$466,875,000.00	$466,875,000.00	$7,497,194.63	$1,141,704.18	$0.00	$8,638,898.81	$0.00	$0.00	$461,093,780.01
* Notional Balance

AMOUNTS PER $1,000 UNIT
				Class Interest		Net WAC	Allocable	Ending	Current
		Principal	Interest	Carryover	Total	Rate Carryover	Loss	Certificate	Pass Through
Class	Cusip	Distribution	Distribution	Amount	Distribution	Amount	Amount	Balance	Interest Rate
AV-1	17307G LE 6	$15.80417018	$1.82000000	NA	$17.62417018	$0.00000000	$0.00000000	$984.19582982	2.34000%
AV-2A	17307G LF 3	$26.34757007	$1.66444444	NA	$28.01201451	$0.00000000	$0.00000000	$973.65242993	2.14000%
AV-2B	17307G LG 1	$0.00000000	$1.78111127	NA	$1.78111127	$0.00000000	$0.00000000	$1,000.00000000	2.29000%
AV-2C	17307G LH 9	$0.00000000	$1.92888889	NA	$1.92888889	$0.00000000	$0.00000000	$1,000.00000000	2.48000%
AF-1	17307G LJ 5	$26.37984498	$2.60666667	NA	$28.98651165	$0.00000000	$0.00000000	$973.62015502	3.12800%
AF-2	17307G LK 2	$0.00000000	$3.23916670	NA	$3.23916670	$0.00000000	$0.00000000	$1,000.00000000	3.88700%
AF-3	17307G LL 0	$0.00000000	$3.87000000	NA	$3.87000000	$0.00000000	$0.00000000	$1,000.00000000	4.64400%
AF-4	17307G LM 8	$0.00000000	$4.26500000	NA	$4.26500000	$0.00000000	$0.00000000	$1,000.00000000	5.11800%
AF-5	17307G LN 6	$0.00000000	$3.82083351	NA	$3.82083351	$0.00000000	$0.00000000	$1,000.00000000	4.58500%
M-1	17307G LP 1	$0.00000000	$2.04555543	NA	$2.04555543	$0.00000000	$0.00000000	$1,000.00000000	2.63000%
M-2	17307G LQ 9	$0.00000000	$2.41888894	NA	$2.41888894	$0.00000000	$0.00000000	$1,000.00000000	3.11000%
M-3	17307G LR 7	$0.00000000	$2.49666720	NA	$2.49666720	$0.00000000	$0.00000000	$1,000.00000000	3.21000%
B-1	17307G LS 5	$0.00000000	$2.88555630	NA	$2.88555630	$0.00000000	$0.00000000	$1,000.00000000	3.71000%
B-2	17307G LT 3	$0.00000000	$3.00222222	NA	$3.00222222	$0.00000000	$0.00000000	$1,000.00000000	3.86000%
B-3	17307G LU 0	$0.00000000	$3.08000000	NA	$3.08000000	$0.00000000	$0.00000000	$1,000.00000000	3.96000%
B-4	17307G LV 8	$0.00000000	$3.08000000	NA	$3.08000000	$0.00000000	$0.00000000	$1,000.00000000	3.96000%
N*	NA	$83.25932266	$5.00000000	NA	$88.25932266	$0.00000000	$0.00000000	$916.74067734	6.00000%
X*	NA	$0.00000000	$0.00000000	NA	$0.00000000	$0.00000000	$0.00000000	$0.00000000	NA

	Please contact the Bondholder Relations Department of U.S. Bank National Association at
	(800) 934-6802 with any questions regarding this statement or your distribution.

U.S. BANK NATIONAL ASSOCIATION

Page 1

C-BASS
MORTGAGE LOAN ASSET-BACKED CERTIFICATES
SERIES 2004-CB7

Distribution Date:

November 26, 2004

Payment Statement
Pooling and Servicing Agreement Dated August 1, 2004

Distributions to the Holders See Page 1

ii)

Class X Distribution Amount See Page 1

iii)	Overcollateralization Amount (before distributions)	$13,449,265.61
	Overcollateralization Release Amount	$0.00
	Overcollateralization Deficiency	$0.00
	Overcollateralization Target Amount	$13,449,265.61
	Overcollateralization Amount (after distributions)	$13,449,265.61

	Amount of Excess Interest					$1,733,362.43
	Amount of Excess Cashflow					$1,733,362.43

				Group 1	Group 2	Total
iv)	Servicing Fees			$142,244.39	$57,890.22	$200,134.61

Advances

$53,650.09

vi)

Ending Pool Principal Balance

337,044,082.81

137,498,962.81

$474,543,045.62

vii)	Loan Count			2133	1234	3367
	Weighted average remaining term of the Mortgage Loans			336	318	331
	Weighted average Mortage Rate of the Mortgage Loans			7.13146%	8.16826%	7.43136%


viii)	Delinquency And Foreclosure Information:
	Group 1	All Categories		Bankruptcy		Foreclosure
		Number	Balance	Number	Balance	Number	Balance
	Current:	2109	$332,778,706.79	0	$0.00	0	$0.00
	30 days Delinquent:	24	$4,265,376.02	0	$0.00	0	$0.00
	60 days delinquent:	0	$0.00	0	$0.00	0	$0.00
	90+ days delinquent:	0	$0.00	0	$0.00	0	$0.00

Group 2	All Categories		Bankruptcy		Foreclosure
	Number	Balance	Number	Balance	Number	Balance
Current:	1207	$135,058,149.43	0	$0.00	0	$0.00
30 days Delinquent:	27	$2,440,813.38	1	$28,632.54	0	$0.00
60 days delinquent:	0	$0.00	0	$0.00	0	$0.00
90+ days delinquent:	0	$0.00	0	$0.00	0	$0.00

ix)	Loans that became REO properties (see page 5)
x)	Total Book Value of REO Properties: (see page 5)
		Group 1	Group 2	Total
xi)	Principal Prepayments made during Due Period	$4,126,048.63	$1,293,158.32	$5,419,206.95

xii)	Current Period Prepayment Penalties	$85,662.21
	Aggregate Prepayment Penalties	$85,662.21
	Aggregate Prepayment Penalties allocated to Classes N	$85,662.21
	Aggregate Prepayment Penalties allocated to Classes X	$0.00

xiii)	Aggregate Realized Losses incurred during Due Period			$0.00	$0.00	$0.00
	Cumulative Realized Losses			$0.00	$0.00	$0.00

xiv)

Realized Loss Allocations See Page 1

xv)

Accrued Certificate Interest See Page 1

Page 2

C-BASS
MORTGAGE LOAN ASSET-BACKED CERTIFICATES
SERIES 2004-CB7

Distribution Date:

November 26, 2004

xvi)

Prepayment Interest Shortfall not covered by the servicer

$0.00

xvii)

Trustee Fees

$1,706.94

$694.68

$2,401.62

xviii)		Net WAC Rate Carryover Amounts
		Current Distribution	Amounts Remaining
	AV-1	0.00	0.00
	AV-2A	0.00	0.00
	AV-2B	0.00	0.00
	AV-2C	0.00	0.00
	AF-1	0.00	0.00
	AF-2	0.00	0.00
	AF-3	0.00	0.00
	AF-4	0.00	0.00
	M-1	0.00	0.00
	M-2	0.00	0.00
	M-3	0.00	0.00
	B-1	0.00	0.00
	B-2	0.00	0.00
	B-3	0.00	0.00
	B-4	0.00	0.00

xix)

Overcollateralization Deficiency (after distribution)

0.00

xx)	Trigger Event Occurrence					NO
	Cummulative Realized Losses Percentage					0.0000000%

xxi)	Available Funds		Group 1	Group 2	Total
		Scheduled Interest Net of Servicing Fees	$1,886,580.49	$887,837.74	$2,774,418.23
		Scheduled Principal	$217,206.01	$144,807.03	$362,013.04
		Unscheduled Principal	$4,126,048.63	$1,293,158.32	$5,419,206.95
		Available Funds	$6,229,835.13	$2,325,803.09	$8,555,638.22

xxii)

Class Interest Rate See Page 1

xxiii)

Liquidation Report See Page 4

xxiv)

Mortgage Loans Purchased by Servicer

0.00

xxv)

Mortgage Loans Re-Purchased by Servicer

0.00

Page 3

C-BASS
MORTGAGE LOAN ASSET-BACKED CERTIFICATES
SERIES 2004-CB7

Distribution Date:

November 26, 2004

LIQUIDATION REPORT

Loan Number

Unpaid Principal Balance

Scheduled Principal

Liquidation Proceeds

Loss

0.00

Page 4

C-BASS
MORTGAGE LOAN ASSET-BACKED CERTIFICATES
SERIES 2004-CB7

Distribution Date:

November 26, 2004

REO REPORT

Loan Number	Unpaid Principal Balance	Scheduled Principal	Book Value	Group

Page 5

CITIGROUP MORTGAGE LOAN TRUST INC C-BASS MORTGAGE LOAN ASSET-BACKED CERTIFICATES, SERIES 2004-CB7 8-K