

                           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):


                                  INDYMAC MBS, INC.
         as Depositor, IndyMac Bank, F.S.B. as Seller and as Master Servicer,
              and Deutsche Bank National Trust Company, as trustee
              under the Pooling and Servicing Agreement, dated as of
           June 1, 2004, providing for the issuance of IndyMac MBS, Inc.
           Home Equity Mortgage Loan Asset-Backed Trust Series SPMD 2004-A
           Home Equity Mortgage Loan Asset-Backed Certificates SPMD 2004-A

           Home Equity Mortgage Loan Asset-Backed Trust Series SPMD 2004-A
                 (Exact name of Registrant as specified in its Charter)


                                        DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-47158-07                         95-4685267
          (Commission File Number)        (I.R.S. Employer Identification No.)


          155 NORTH LAKE AVENUE
          PASADENA, CALIFORNIA                         91101
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (800) 669-2300


     Item 5.  Other Events

     Attached hereto is a copy of the Monthly Remittance Statements to the
     Certificateholders which was derived from the monthly information
     submitted by the Master Servicer of the Trust to the Trustee.


     Item 7.  Financial Statement and Exhibits

     Exhibits:  (as noted in Item 5 above)

     Monthly Remittance Statement to the Certificateholders dated as of
     .



                                     SIGNATURE


               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, hereunto duly authorized.


                                  Deutsche Bank National Trust Company,
                                  not in it individual capacity, but solely
                                  as a duly authorized agent of the Registrant
                                  pursuant to the Pooling and Servicing
                                  Agreement, dated as of June 1,2004.


          Date:  Aug 04, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President

                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of .



IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				IndyMac Bank						1. Certificate Payment Report					2
				IndyMac Bank						2. Collection Account Report					4
										2. Collection Account Report					4
										3. Credit Enhancement Report					6
										4. Collateral Report					7
				Certificate Insurer(s)						5. Delinquency Report					10
				Certificate Insurer(s)						5. Delinquency Report					10
										6. REO Report					13

										7. Foreclosure Report					14
										8. Prepayment Report					15
										9. Prepayment Detail Report					18
										9. Prepayment Detail Report					18
										10. Realized Loss Report					19
										11. Realized Loss Detail Report					22
				Servicer(s)						11. Realized Loss Detail Report					22
				Servicer(s)						12. Triggers and Adj. Cert. Report					23
				IndyMac Bank						12. Triggers and Adj. Cert. Report					23
				IndyMac Bank						13. Additional Certificate Report					24
										13. Additional Certificate Report					24
										14. Other Related Information					25


				Underwriter(s)
				UBS Securities


										Total Number of Pages					25
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			June 01, 2004			Brent Hoyler
				Close Date:			June 08, 2004			Administrator
				First Distribution Date:			July 26, 2004			(714) 247-6322
										Brent.Hoyler@db.com
										Brent.Hoyler@db.com
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			July 26, 2004
										Factor Information:			(800) 735-7777
				Record Date:			June 30, 2004			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							July 23, 2004
							July 23, 2004

										https://www.corporatetrust.db.com/invr



Page 1 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Certificate Payment Report
Current Period Distribution - REMIC III
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
	Class		Original		Principal						Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance


					(1)		(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)

A-1	FLT, STEP	$	267,868,000.00		267,868,000.00		521,449.71		4,576,552.23		5,098,001.94		0.00		0.00		263,291,447.77
A-1	FLT, STEP	$	267,868,000.00		267,868,000.00		521,449.71		4,576,552.23		5,098,001.94		0.00		0.00		263,291,447.77
A-2	FLT, STEP	$	52,102,000.00		52,102,000.00		91,699.52		4,376,566.00		4,468,265.52		0.00		0.00		47,725,434.00
A-3	FLT, STEP	$	37,780,000.00		37,780,000.00		82,612.27		0.00		82,612.27		0.00		0.00		37,780,000.00
M-1	MEZ, FLT	$	28,125,000.00		28,125,000.00		66,750.00		0.00		66,750.00		0.00		0.00		28,125,000.00
M-2	MEZ, FLT	$	22,050,000.00		22,050,000.00		73,794.00		0.00		73,794.00		0.00		0.00		22,050,000.00
M-3	MEZ, FLT	$	5,625,000.00		5,625,000.00		20,325.00		0.00		20,325.00		0.00		0.00		5,625,000.00
M-4	MEZ, FLT	$	11,700,000.00		11,700,000.00		57,096.00		0.00		57,096.00		0.00		0.00		11,700,000.00
M-5	MEZ, FLT	$	4,950,000.00		4,950,000.00		30,756.00		0.00		30,756.00		0.00		0.00		4,950,000.00
M-6	MEZ, FLT	$	4,500,000.00		4,500,000.00		27,960.00		0.00		27,960.00		0.00		0.00		4,500,000.00
M-7	MEZ, FIX	$	8,550,000.00		8,550,000.00		42,750.00		0.00		42,750.00		0.00		0.00		8,550,000.00
C	SUB,EXE	$	6,769,181.65		6,769,181.65		1,488,689.86		18,893.92		1,507,583.78		0.00		0.00		6,750,287.73
P	SUB	$	100.00		100.00		76,539.76		0.00		76,539.76		0.00		0.00		100.00
R	R	$	100.00		100.00		0.00		0.00		0.00		0.00		0.00		100.00


Total			450,019,381.65		450,019,381.65		2,580,422.12		8,972,012.15		11,552,434.27		0.00		0.00		441,047,369.50
Total




Interest Accrual Detail Current Period Factor Information per $1,0000 of Original Face-
									Orig. Principal		Prior							Current
									Orig. Principal		Prior							Current
	Period		Period						(with Notional)		Principal						Total	Principal
	Period		Period
Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1	06/08/04		07/25/04		A-Act/360		456606EN8		267,868,000.00		1,000.000000		1.946667		17.085102		19.031769	982.914898
A-2	06/08/04		07/25/04		A-Act/360		456606EP3		52,102,000.00		1,000.000000		1.760000		83.999962		85.759962	916.000038
A-3	06/08/04		07/25/04		A-Act/360		456606EX6		37,780,000.00		1,000.000000		2.186667		0.000000		2.186667	1,000.000000
M-1	06/08/04		07/25/04		A-Act/360		456606EQ1		28,125,000.00		1,000.000000		2.373333		0.000000		2.373333	1,000.000000
M-2	06/08/04		07/25/04		A-Act/360		456606ER9		22,050,000.00		1,000.000000		3.346667		0.000000		3.346667	1,000.000000
M-3	06/08/04		07/25/04		A-Act/360		456606ES7		5,625,000.00		1,000.000000		3.613333		0.000000		3.613333	1,000.000000
M-4	06/08/04		07/25/04		A-Act/360		456606ET5		11,700,000.00		1,000.000000		4.880000		0.000000		4.880000	1,000.000000
M-5	06/08/04		07/25/04		A-Act/360		456606EU2		4,950,000.00		1,000.000000		6.213333		0.000000		6.213333	1,000.000000
M-6	06/08/04		07/25/04		A-Act/360		456606EV0		4,500,000.00		1,000.000000		6.213333		0.000000		6.213333	1,000.000000
M-7	06/25/04		07/24/04		F-30/360		456606EW8		8,550,000.00		1,000.000000		5.000000		0.000000		5.000000	1,000.000000
C	06/25/04		07/24/04		F-30/360		IN04S101C		6,769,181.65		1,000.000000		219.921689		2.791168		222.712856	997.208832
P	06/25/04		07/24/04		F-30/360		IN04S101P		100.00		1,000.000000		765,397.600000		0.000000		765,397.600000	1,000.000000
R	06/25/04		07/24/04		F-30/360		IN04S101R		100.00		1,000.000000		0.000000		0.000000		0.000000	1,000.000000




Page 2 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution

Distribution to Date - REMIC III
																	Current


	Original				Unscheduled		Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal		Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)		(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
A-1	267,868,000.00		521,449.71		4,398,905.06		177,647.17		4,576,552.23		5,098,001.94		0.00		0.00		263,291,447.77
A-2	52,102,000.00		91,699.52		4,206,681.65		169,884.35		4,376,566.00		4,468,265.52		0.00		0.00		47,725,434.00
A-3	37,780,000.00		82,612.27		0.00		0.00		0.00		82,612.27		0.00		0.00		37,780,000.00
M-1	28,125,000.00		66,750.00		0.00		0.00		0.00		66,750.00		0.00		0.00		28,125,000.00
M-2	22,050,000.00		73,794.00		0.00		0.00		0.00		73,794.00		0.00		0.00		22,050,000.00
M-3	5,625,000.00		20,325.00		0.00		0.00		0.00		20,325.00		0.00		0.00		5,625,000.00
M-4	11,700,000.00		57,096.00		0.00		0.00		0.00		57,096.00		0.00		0.00		11,700,000.00
M-5	4,950,000.00		30,756.00		0.00		0.00		0.00		30,756.00		0.00		0.00		4,950,000.00
M-6	4,500,000.00		27,960.00		0.00		0.00		0.00		27,960.00		0.00		0.00		4,500,000.00
M-7	8,550,000.00		42,750.00		0.00		0.00		0.00		42,750.00		0.00		0.00		8,550,000.00
C	6,769,181.65		1,488,689.86		18,160.52		733.40		18,893.92		1,507,583.78		0.00		0.00		6,750,287.73
P	100.00		76,539.76		0.00		0.00		0.00		76,539.76		0.00		0.00		100.00
R	100.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		100.00


Total	450,019,381.65		2,580,422.12		8,623,747.23		348,264.92		8,972,012.15		11,552,434.27		0.00		0.00		441,047,369.50


Interest Detail - REMIC III
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or

	Through		(with Notional)		Accrued		Supported		Unpaid		Interest		Optimal		Deferred		Unpaid

Class	Rate		Balance		Interest		Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
A-1	1.46000%		267,868,000.00		521,449.71		0.00		0.00		0.00		521,449.71		521,449.71		0.00
A-2	1.32000%		52,102,000.00		91,699.52		0.00		0.00		0.00		91,699.52		91,699.52		0.00
A-3	1.64000%		37,780,000.00		82,612.27		0.00		0.00		0.00		82,612.27		82,612.27		0.00
M-1	1.78000%		28,125,000.00		66,750.00		0.00		0.00		0.00		66,750.00		66,750.00		0.00
M-2	2.51000%		22,050,000.00		73,794.00		0.00		0.00		0.00		73,794.00		73,794.00		0.00
M-3	2.71000%		5,625,000.00		20,325.00		0.00		0.00		0.00		20,325.00		20,325.00		0.00
M-4	3.66000%		11,700,000.00		57,096.00		0.00		0.00		0.00		57,096.00		57,096.00		0.00
M-5	4.17332%		4,950,000.00		27,543.93		0.00		0.00		0.00		27,543.93		30,756.00		0.00
M-6	4.17332%		4,500,000.00		25,039.94		0.00		0.00		0.00		25,039.94		27,960.00		0.00
M-7	6.00000%		8,550,000.00		42,750.00		0.00		0.00		0.00		42,750.00		42,750.00		0.00
C	263.90603%		6,769,181.65		124,057.49		0.00		0.00		0.00		124,057.49		1,488,689.86		0.00
P	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		76,539.76		0.00
R	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			450,019,381.65		1,133,117.86		0.00		0.00		0.00		1,133,117.86		2,580,422.12		0.00



Page 3 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Collection Account Report
SUMMARY
SUMMARY
										Group 2		Group 1		Total
Principal Collections										4,385,801.94		4,586,210.21		8,972,012.15
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										4,385,801.94		4,586,210.21		8,972,012.15
Interest Collections										663,770.17		2,023,873.58		2,687,643.74
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		76,539.76
Interest Fees										-46,140.78		-137,620.61		-183,761.39
TOTAL NET INTEREST										617,629.39		1,886,252.97		2,580,422.11
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										5,003,431.33		6,472,463.18		11,552,434.27



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											77,040.30		271,224.62		348,264.92
Prepayments In Full											4,305,676.96		3,872,060.73		8,177,737.69
Curtailments											3,084.68		15,090.76		18,175.44
Liquidations											0.00		0.00		0.00
Insurance Principal											0.00		0.00		0.00
Repurchased Principal Amounts											0.00		427,834.10		427,834.10
Other Principal											0.00		0.00		0.00
Total Realized Loss Of Principal											-0.00		-0.00		-0.00
Delinquent Principal											-2,470.40		-9,772.37		-12,242.77
Advanced Principal											2,470.40		9,772.37		12,242.77
TOTAL PRINCIPAL COLLECTED											4,385,801.94		4,586,210.21		8,972,012.15


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
										Group 2		Group 1		Total
TOTAL OTHER ACCOUNTS PRINCIPAL										0.00		0.00		0.00





Page 4 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										665,155.45		2,026,207.91		2,691,363.36
Liquidation Interest										0.00		0.00		0.00
Repurchased Interest										0.00		2,652.10		2,652.10
Insurance Interest										0.00		0.00		0.00
Other Interest										0.00		0.00		0.00
Relief Act Interest Shortfalls										-0.00		-0.00		-0.00
Prepayment Interest Shortfalls										-5,971.58		-5,823.35		-11,794.93
Compensating Interest										5,971.58		5,823.35		11,794.93
Delinquent Interest										-20,030.27		-78,221.49		-98,251.75
Interest Advanced										18,644.98		73,235.05		91,880.04
TOTAL INTEREST COLLECTED										663,770.17		2,023,873.58		2,687,643.74


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
										Group 2		Group 1		Total
Nonrecoverable Advances										0.00		0.00		0.00
TOTAL INTEREST WITHDRAWALS										0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges														76,539.76
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		76,539.76



INTEREST - FEES
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										45,484.60		135,651.68		181,136.27
Current Trustee Fees										656.18		1,968.93		2,625.11
TOTAL INTEREST OTHER FEES										46,140.78		137,620.61		183,761.39




Page 5 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Credit Enhancement Report

ACCOUNTS


Excess Reserve Fund Account

Initial Deposit						5,000.00
Begining Balance						5,000.00
Amount Withdrawn						0.00
Ending Balance						5,000.00




INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Overcollateralized Amount														6,750,287.73
Overcollateralization Target Amount														6,750,287.73
Overcollateralization Release Amount														18,893.93
Overcollateralization Deficiency Amount														0.00



Page 6 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Collateral Report

COLLATERAL
COLLATERAL
											Group 2		Group 1		Total



*Loan Count:*

Original										415		2,270		2,685
Prior										415		2,270		2,685
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-10		-23		-33
Repurchases										-0		-3		-3
Liquidations										-0		-0		-0
Current										405		2,244		2,649

*Principal Balance:*

Original										112,487,722.90		337,531,458.75		450,019,181.65
Prior										112,487,722.90		337,531,458.75		450,019,181.65
Prefunding										0.00		0.00		0.00
Scheduled Principal										-77,040.30		-271,224.62		-348,264.92
Partial Prepayments										#######		-15,090.76		-18,175.44
Full Voluntary Prepayments										-4,305,676.96		-3,872,060.73		-8,177,737.69
Repurchases										-0.00		-427,834.10		-427,834.10
Liquidations										-0.00		-0.00		-0.00
Current										108,101,920.96		332,945,248.54		441,047,169.50




PREFUNDING

SPACE INTENTIONALLY LEFT BLANK







Page 7 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution

CHARACTERISTICS
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										7.09577%		7.21305%		7.18374%
Weighted Average Coupon Prior										7.09577%		7.21305%		7.18374%
Weighted Average Coupon Current										7.09577%		7.21305%		7.18374%
Weighted Average Months to Maturity Original										354		351		352
Weighted Average Months to Maturity Prior										354		351		352
Weighted Average Months to Maturity Current										354		351		352
Weighted Avg Remaining Amortization Term Original										354		351		352
Weighted Avg Remaining Amortization Term Prior										354		351		352
Weighted Avg Remaining Amortization Term Current										354		351		352
Weighted Average Seasoning Original										3.12		3.56		3.45
Weighted Average Seasoning Prior										3.12		3.56		3.45
Weighted Average Seasoning Current										3.12		3.56		3.45









Page 8 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										4.97647%		5.13259%		5.09297%
Weighted Average Margin Prior										4.97647%		5.13259%		5.09297%
Weighted Average Margin Current										4.97647%		5.13259%		5.09297%
Weighted Average Max Rate Original										13.01803%		13.16793%		13.12989%
Weighted Average Max Rate Prior										13.01803%		13.16793%		13.12989%
Weighted Average Max Rate Current										13.01803%		13.16793%		13.12989%
Weighted Average Min Rate Original										5.01474%		5.16428%		5.12633%
Weighted Average Min Rate Prior										5.01474%		5.16428%		5.12633%
Weighted Average Min Rate Current										5.01474%		5.16428%		5.12633%
Weighted Average Cap Up Original										1.04950%		1.03527%		1.03889%
Weighted Average Cap Up Prior										1.04950%		1.03527%		1.03889%
Weighted Average Cap Up Current										1.04950%		1.03527%		1.03889%
Weighted Average Cap Down Original										1.04950%		1.03527%		1.03889%
Weighted Average Cap Down Prior										1.04950%		1.03527%		1.03889%
Weighted Average Cap Down Current										1.04950%		1.03527%		1.03889%




SERVICING FEES & ADVANCES
SERVICING FEES & ADVANCES
											Group 2		Group 1		Total




Current Servicing Fees										45,484.60		135,651.68		181,136.27
Delinquent Servicing Fees										1,385.29		4,986.43		6,371.72
TOTAL SERVICING FEES										46,869.89		140,638.11		187,508.00


Compensating Interest										-5,971.58		-5,823.35		-11,794.93
Delinquent Servicing Fees										-1,385.29		-4,986.43		-6,371.72
COLLECTED SERVICING FEES										101,423.08		22,433.67		169,341.35


Aggregate Advances with respect to this Distribution										21,115.38		83,007.42		104,122.81





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														1.1600%

Total Net Monthly Excess Cashflow														1,494,821.99




Page 9 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				372,951.39		0.00		0.00		372,951.39
			% Balance				0.08%		0.00%		0.00%		0.08%
			# Loans				2		0		0		2
			% # Loans				0.08%		0.00%		0.00%		0.08%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		372,951.39		0.00		0.00		372,951.39
			% Balance		0.00%		0.08%		0.00%		0.00%		0.08%
			# Loans		0		2		0		0		2
			% # Loans		0.00%		0.08%		0.00%		0.00%		0.08%









Page 10 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				202,578.14		0.00		0.00		202,578.14
			% Balance				0.06%		0.00%		0.00%		0.06%
			# Loans				1		0		0		1
			% # Loans				0.04%		0.00%		0.00%		0.04%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		202,578.14		0.00		0.00		202,578.14
			% Balance		0.00%		0.06%		0.00%		0.00%		0.06%
			# Loans		0		1		0		0		1
			% # Loans		0.00%		0.04%		0.00%		0.00%		0.04%










Page 11 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				170,373.25		0.00		0.00		170,373.25
			% Balance				0.16%		0.00%		0.00%		0.16%
			# Loans				1		0		0		1
			% # Loans				0.25%		0.00%		0.00%		0.25%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		170,373.25		0.00		0.00		170,373.25
			% Balance		0.00%		0.16%		0.00%		0.00%		0.16%
			# Loans		0		1		0		0		1
			% # Loans		0.00%		0.25%		0.00%		0.00%		0.25%









Page 12 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
REO Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
SPACE INTENTIONALLY LEFT BLANK
SPACE INTENTIONALLY LEFT BLANK



TOTAL



Page 13 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date




TOTAL



Page 14 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS
											Group 2		Group 1		Total



*Current*

Number of Paid in Full Loans										10		23		33
Number of Repurchased Loans										0		3		3
Total Number of Loans Prepaid in Full										10		26		36
Curtailments Amount										3,084.68		15,090.76		18,175.44
Paid in Full Balance										4,305,676.96		3,872,060.73		8,177,737.69
Repurchased Loans Balance										0.00		427,834.10		427,834.10
Total Prepayment Amount										4,308,761.64		4,314,985.59		8,623,747.23



*Cumulative*

Number of Paid in Full Loans										10		23		33
Number of Repurchased Loans										0		3		3
Total Number of Loans Prepaid in Full										10		26		36
Paid in Full Balance										4,305,676.96		3,872,060.73		8,177,737.69
Repurchased Loans Balance										0.00		427,834.10		427,834.10
Curtailments Amount										3,084.68		15,090.76		18,175.44
Total Prepayment Amount										4,308,761.64		4,314,985.59		8,623,747.23










Page 15 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES
											Group 2		Group 1		Total



SMM										3.83%		1.28%		1.92%
3 Months Avg SMM										3.83%		1.28%		1.92%
12 Months Avg SMM										3.83%		1.28%		1.92%
Avg SMM Since Cut-off										3.83%		1.28%		1.92%


CPR										37.44%		14.32%		20.73%
3 Months Avg CPR										37.44%		14.32%		20.73%
12 Months Avg CPR										37.44%		14.32%		20.73%
Avg CPR Since Cut-off										37.44%		14.32%		20.73%


PSA										5,995.41%		2,011.01%		3,002.83%
3 Months Avg PSA Approximation										5,995.41%		2,011.00%		3,002.82%
12 Months Avg PSA Approximation										5,995.41%		2,011.00%		3,002.82%
Avg PSA Since Cut-off Approximation										5,995.41%		2,011.00%		3,002.82%











Page 16 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution






PREPAYMENT CALCULATION METHODOLOGY

	Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal)

	Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
	PSA Standard Prepayment Model: CPR/(0.002*min(30,WAS))
	PSA Standard Prepayment Model: CPR/(0.002*min(30,WAS))
	Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn)(1-SMMn+1)...*(1-SMMm)]^(1/months in period n,m)
	Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)

	Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*Avg WASn,m))
	Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m)

	Weighted Average Seasoning (WAS)

	Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases.
	Dates correspond to distribution dates.




Page 17 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

2155980 1			38,500.00		38,298.91			14-Jul-2004		9.400%		MN - 71.30%		Paid Off - 360		15-Aug-2003
2155980 1			38,500.00		38,298.91			14-Jul-2004		9.400%		MN - 71.30%		Paid Off - 360		15-Aug-2003
3154959 1			132,000.00		130,952.92			07-Jun-2004		6.300%		OH - 80.00%		Paid Off - 360		01-Nov-2003
3155045 1			33,000.00		32,863.83			21-Jun-2004		9.150%		NC - 48.53%		Paid Off - 180		17-Nov-2003
3155047 1			32,000.00		31,830.60			30-Jun-2004		7.500%		IA - 80.00%		Paid Off - 360		01-Dec-2003
3155649 1			274,570.00		271,442.39			24-Jun-2004		9.150%		OH - 91.52%		Paid Off - 180		01-Nov-2002
3159377 1			111,500.00		111,139.59			01-Jul-2004		8.250%		CT - 85.77%		Paid Off - 360		01-Jan-2004
3159405 1			125,000.00		124,625.43			23-Jun-2004		7.500%		CT - 60.98%		Paid Off - 360		01-Mar-2004
3234368 2			400,000.00		398,640.03			02-Jul-2004		8.000%		PA - 88.89%		Paid Off - 360		01-Feb-2004
3245710 1			124,865.00		124,544.27			15-Jun-2004		9.875%		WI - 85.00%		Paid Off - 360		01-Feb-2004
3254281 1			244,000.00		243,451.24			24-Jun-2004		10.000%		NJ - 80.00%		Paid Off - 360		01-Feb-2004
3263265 1			234,000.00		232,821.24			30-Jun-2004		7.750%		MI - 90.00%		Paid Off - 360		01-Dec-2003
3270577 1			130,000.00		129,806.65			01-Jul-2004		9.500%		NC - 34.85%		Paid Off - 360		01-Apr-2004
3334501 2			225,000.00		224,448.93			28-Jun-2004		8.500%		NJ - 90.00%		Paid Off - 360		01-Mar-2004
3381098 2			500,000.00		498,569.30			10-Jun-2004		6.250%		CA - 79.37%		Paid Off - 360		01-Apr-2004
3401248 1			180,000.00		179,294.83			03-Jun-2004		6.125%		CA - 63.60%		Paid Off - 360		01-Mar-2004
3415432 1			243,000.00		242,342.99			07-Jul-2004		7.250%		NC - 90.00%		Paid Off - 360		01-Apr-2004
3450001 2			600,000.00		599,251.54			14-Jun-2004		8.375%		MD - 88.24%		Paid Off - 360		01-May-2004
3454929 2			362,000.00		361,623.21			01-Jul-2004		9.250%		CA - 66.42%		Paid Off - 360		01-May-2004
3457587 2			416,000.00		416,000.00			08-Jul-2004		5.625%		NJ - 80.00%		Paid Off - 360		01-May-2004
3479457 1			320,000.00		319,511.52			18-Jun-2004		7.375%		HI - 88.89%		Paid Off - 360		01-May-2004
3480935 2			441,000.00		440,672.71			13-Jul-2004		7.500%		CA - 90.00%		Paid Off - 360		01-Jun-2004
3483169 1			216,000.00		215,809.43			14-Jul-2004		6.625%		NY - 80.00%		Paid Off - 360		01-Jun-2004
3491831 1			66,000.00		65,888.80			07-Jul-2004		6.875%		OH - 78.57%		Paid Off - 360		01-May-2004
3492804 1			224,950.00		224,321.62			22-Jun-2004		6.375%		CA - 94.92%		Paid Off - 360		01-Apr-2004
3496980 2			440,613.00		440,613.00			30-Jun-2004		5.125%		MD - 80.00%		Paid Off - 360		01-May-2004
3517257 1			211,000.00		210,701.20			30-Jun-2004		7.750%		CA - 58.61%		Paid Off - 360		01-May-2004
3523110 2			357,000.00		357,000.00			08-Jul-2004		5.750%		FL - 85.00%		Paid Off - 360		01-May-2004
3529548 1			132,000.00		131,793.44			01-Jul-2004		7.250%		OH - 82.50%		Paid Off - 360		01-May-2004
3549409 1			251,250.00		250,894.19			15-Jun-2004		7.750%		NJ - 75.00%		Paid Off - 360		01-May-2004
3554217 1			149,000.00		148,844.91			02-Jul-2004		9.250%		WA - 72.68%		Paid Off - 360		01-May-2004
3615188 1			271,350.00		270,984.63			23-Jun-2004		8.000%		MI - 83.49%		Paid Off - 360		01-May-2004
3667556 1			140,000.00		139,896.10			15-Jun-2004		7.500%		IL - 80.00%		Paid Off - 360		01-Jun-2004
3695465 2			569,250.00		568,858.24			15-Jun-2004		7.875%		IL - 75.00%		Paid Off - 360		01-Jun-2004
2152670 1			60,000.00		61,972.77			16-Jun-2004		9.750%		IA - 75.00%		Repur/Subs - 360		01-Dec-2002
2155912 1			304,200.00		301,429.84			16-Jun-2004		7.100%		NC - 90.00%		Repur/Subs - 180		01-Aug-2003
2155934 1			65,000.00		64,431.49			16-Jun-2004		6.800%		OH - 63.73%		Repur/Subs - 180		14-Aug-2003


TOTAL			8,624,048.00		8,605,571.79
TOTAL


Page 18 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES
COLLATERAL REALIZED LOSSES
											Group 2		Group 1		Total



*Current*

Number of Loans Liquidated										0		0		0
Collateral Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00



*Cumulative*

Number of Loans Liquidated										0		0		0
Collateral Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00





Class M-7 Writedown Amount														0.00
Class M-6 Writedown Amount														0.00
Class M-5 Writedown Amount														0.00
Class M-4 Writedown Amount														0.00
Class M-3 Writedown Amount														0.00
Class M-2 Writedown Amount														0.00
Class M-1 Writedown Amount








Page 19 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution

DEFAULT SPEEDS
DEFAULT SPEEDS
											Group 2		Group 1		Total



MDR										0.00%		0.00%		0.00%
3 Months Avg MDR										0.00%		0.00%		0.00%
12 Months Avg MDR										0.00%		0.00%		0.00%
Avg MDR Since Cut-off										0.00%		0.00%		0.00%


CDR										0.00%		0.00%		0.00%
3 Months Avg CDR										0.00%		0.00%		0.00%
12 Months Avg CDR										0.00%		0.00%		0.00%
Avg CDR Since Cut-off										0.00%		0.00%		0.00%


SDA										0.00%		0.00%		0.00%
3 Months Avg SDA Approximation										0.00%		0.00%		0.00%
12 Months Avg SDA Approximation										0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation										0.00%		0.00%		0.00%


Loss Severity Approximation for Current Period										0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off										0.00%		0.00%		0.00%











Page 20 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution





COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
	Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)



	Conditional Default Rate (CDR): 1-((1-MDR)^12)

	SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))

	Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)(1-MDRn+1)...*(1-MDRm)]^(1/months in period n,m)
	Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

	Average SDA Approximation over period between the nth month and mth month:
	AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))

	Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)
	Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

	Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

	Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
	Dates correspond to distribution dates.




Page 21 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Realized Loss Detail Report
Loan Number			Original		Prior				Current		State &

														First
&			Principal		Principal		Realized		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Loss/(Gain)		Rate		Origination		Term		Date

SPACE INTENTIONALLY LEFT BLANK
SPACE INTENTIONALLY LEFT BLANK



TOTAL



Page 22 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
										Group 2		Group 1		Total
Stepdown Date has occurred (0 = No, 1=Yes)														0
Does a Trigger Event Exist-Either a) or b) Yes?														0
a) Does a Delinquency Trigger Event Exists (0=No,1=Yes)														0
b) Does a Loss Trigger Event Exists (0=No,1=Yes)														0
60+ days Delinqueny Bal.-3M Rolling Avg.														0.00
Ending Collateral Balance														441,047,169.50
Delinquency Percentage														0.0000%
Beginning Balance of Mezzanine and C Class														92,269,181.65
Beginning Collateral Balance														450,019,181.65
Credit Enhancement Percentage														20.5000%
Cumulative Loss Percentage														0.0000%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Cap Contract Payments - Due														0.00

Cap Contract Payments - Paid														0.00




Page 23 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

														NET WAC Shortfall CarryOver		NET WAC Shortfall Paid


CLASS
			A-1											$0.00		$0.00
			A-2											$0.00		$0.00
			A-3											$0.00		$0.00
			M-1											$0.00		$0.00
			M-2											$0.00		$0.00
			M-3											$0.00		$0.00
			M-4											$0.00		$0.00
			M-5											$0.00		#######
			M-6											$0.00		#######
			M-7											$0.00		$0.00


















Page 24 of 25
IndyMac SPMD 2004-A

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
REMIC 2004-A

July 26, 2004 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Sched. Payments for 60+Day Delinquent Loans										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior										0.00		0.00		0.00



Current Scheduled Payments										742,195.75		2,297,432.53		3,039,628.28
Current Scheduled Payments 1 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 2 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 3 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 4 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 5 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 6 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 7 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 8 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 9 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 10 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 11 Month Prior										0.00		0.00		0.00




Page 25 of 25

Home Equity Mortgage Loan Asset-Backed Trust, Series SPMD 2004-A 8-K