

                           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):  November 26, 2004
                         (Date of earliest event reported)

          Ameriquest Mortgage Securities Inc (as Depositor under the Pooling
          and Servicing Agreement, dated as June 1, 2004, providing for the
          issuance of Asset-Backed Pass-Through Certificates, Series 2004-R5)
                 (Exact name of registrant as specified in charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-112203-01                          33-0885129
          (Commission File Number)        (I.R.S. Employer Identification No.)


          1100 TOWN & COUNTRY ROAD, SUITE 1100
          ORANGE, CALIFORNIA                              92868
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (714) 541-9960


(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):

[  ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
(17 CFR 240.14a-12(b))

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))


     Item 8.01  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 9.01 Financial Statements and Exhibits

     (c) Exhibits:

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     November 26, 2004.

                                    Signatures

               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,
                                  in its capacity as Trustee under the
                                  Pooling and Servicing Agreement on
                                  behalf of Ameriquest Mortgage
                                  Securities Inc.,Registrant


          Date:  Dec 06, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          99.1 Monthly Remittance Statement to the Certificateholders
          dated as of November 26, 2004.



Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

				External Parties						Table of Contents

													Page
				Seller
										1. Certificate Payment Report					2
				Ameriquest Mortgage Corp
										2. Collection Account Report					4

										3. Credit Enhancement Report					6
										4. Collateral Report					7
				Certificate Insurer(s)						5. Delinquency Report					10

										6. REO Report					13

										7. Foreclosure Report					14
										8. Prepayment Report					15
										9. Prepayment Detail Report					18

										10. Realized Loss Report					24
										11. Realized Loss Detail Report					27
				Servicer(s)
										12. Triggers and Adj. Cert. Report					28
				Ameriquest Mortgage Corp
										13. Additional Certificate Report					29

										14. Other Related Information					30


				Underwriter(s)
				CS First Boston


										Total Number of Pages					30


				Dates						Contacts

				Cut-Off Date:			June 01, 2004			Valerie Delgado
				Close Date:			June 04, 2004			Administrator
				First Distribution Date:			July 26, 2004			(714) 247-6273
										valerie.m.delgado@db.com

										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			November 26, 2004
										Factor Information:			(800) 735-7777
				Record Date:			October 29, 2004
										Main Phone Number:			(714) 247-6000

							November 24, 2004


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






Page 1 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Certificate Payment Report
Current Period Distribution - MASTER REMIC
					Prior												Current
	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-1A	SNR	$	619,000,000.00		572,850,176.53		1,121,513.35		27,815,827.90		28,937,341.25		0.00		0.00		545,034,348.63

A-1B	SNR	$	68,770,000.00		63,642,821.71		130,255.64		3,090,298.04		3,220,553.68		0.00		0.00		60,552,523.67
A-2	SNR	$	76,200,000.00		57,973,400.70		105,253.93		5,248,044.44		5,353,298.37		0.00		0.00		52,725,356.26
A-3	SNR	$	37,800,000.00		37,800,000.00		74,004.00		0.00		74,004.00		0.00		0.00		37,800,000.00
A-4	SNR	$	29,230,000.00		29,230,000.00		63,461.58		0.00		63,461.58		0.00		0.00		29,230,000.00
M-1	SUB,MEZ	$	57,500,000.00		57,500,000.00		128,416.67		0.00		128,416.67		0.00		0.00		57,500,000.00
M-2	SUB,MEZ	$	47,500,000.00		47,500,000.00		134,372.22		0.00		134,372.22		0.00		0.00		47,500,000.00
M-3	SUB,MEZ	$	10,000,000.00		10,000,000.00		30,955.56		0.00		30,955.56		0.00		0.00		10,000,000.00
M-4	SUB,MEZ	$	12,500,000.00		12,500,000.00		46,694.44		0.00		46,694.44		0.00		0.00		12,500,000.00
M-5	SUB,MEZ	$	9,000,000.00		9,000,000.00		35,060.00		0.00		35,060.00		0.00		0.00		9,000,000.00
M-6	SUB,MEZ	$	7,500,000.00		7,500,000.00		44,550.00		0.00		44,550.00		0.00		0.00		7,500,000.00
M-7	SUB,MEZ	$	10,000,000.00		10,000,000.00		26,066.67		0.00		26,066.67		0.00		0.00		10,000,000.00
CE	OC	$	15,000,472.05		15,000,008.58		3,361,480.40		0.00		3,361,480.40		0.00		0.00		15,000,008.58
P	P	$	100.00		100.00		564,757.79		0.00		564,757.79		0.00		0.00		100.00
R	R	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			1,000,000,572.05		930,496,507.52		5,866,842.25		36,154,170.38		42,021,012.63		0.00		0.00		894,342,337.14





Interest Accrual Detail Current Period Factor Information per $1,0000 of Original Face-
									Orig. Principal		Prior							Current

	Period		Period						(with Notional)		Principal						Total	Principal

Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1A	10/25/04		11/25/04		A-Act/360		03072SRS6		619,000,000.00		925.444550		1.811815		44.936717		46.748532	880.507833
A-1B	10/25/04		11/25/04		A-Act/360		03072SRT4		68,770,000.00		925.444550		1.894076		44.936717		46.830794	880.507833
A-2	10/25/04		11/25/04		A-Act/360		03072SRU1		76,200,000.00		760.805783		1.381285		68.871974		70.253259	691.933809
A-3	10/25/04		11/25/04		A-Act/360		03072SRV9		37,800,000.00		1,000.000000		1.957778		0.000000		1.957778	1,000.000000
A-4	10/25/04		11/25/04		A-Act/360		03072SRW7		29,230,000.00		1,000.000000		2.171111		0.000000		2.171111	1,000.000000
M-1	10/25/04		11/25/04		A-Act/360		03072SRX5		57,500,000.00		1,000.000000		2.233333		0.000000		2.233333	1,000.000000
M-2	10/25/04		11/25/04		A-Act/360		03072SRY3		47,500,000.00		1,000.000000		2.828889		0.000000		2.828889	1,000.000000
M-3	10/25/04		11/25/04		A-Act/360		03072SRZ0		10,000,000.00		1,000.000000		3.095556		0.000000		3.095556	1,000.000000
M-4	10/25/04		11/25/04		A-Act/360		03072SSA4		12,500,000.00		1,000.000000		3.735555		0.000000		3.735555	1,000.000000
M-5	10/25/04		11/25/04		A-Act/360		03072SSB2		9,000,000.00		1,000.000000		3.895556		0.000000		3.895556	1,000.000000
M-6	10/25/04		11/25/04		A-Act/360		03072SSC0		7,500,000.00		1,000.000000		5.940000		0.000000		5.940000	1,000.000000
M-7	10/25/04		11/25/04		A-Act/360		03072SSG1		10,000,000.00		1,000.000000		2.606667		0.000000		2.606667	1,000.000000
CE	10/01/04		10/30/04		F-30/360				1,015,000,881.05		14.778321		3.311800		0.000000		3.311800	14.778321
P	10/01/04		10/30/04		F-30/360				100.00		1,000.000000		5,647,577.900000		0.000000		5,647,577.900000	1,000.000000
R	10/01/04		10/30/04		F-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 2 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

Distribution to Date - MASTER REMIC
																	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-1A	619,000,000.00		5,258,655.19		70,811,622.13		3,154,029.24		73,965,651.37		79,224,306.56		0.00		0.00		545,034,348.63
A-1B	68,770,000.00		616,705.68		7,867,068.27		350,408.06		8,217,476.33		8,834,182.00		0.00		0.00		60,552,523.67
A-2	76,200,000.00		539,545.24		22,765,376.82		709,266.92		23,474,643.74		24,014,188.98		0.00		0.00		52,725,356.26
A-3	37,800,000.00		332,041.50		0.00		0.00		0.00		332,041.50		0.00		0.00		37,800,000.00
A-4	29,230,000.00		290,862.85		0.00		0.00		0.00		290,862.85		0.00		0.00		29,230,000.00
M-1	57,500,000.00		591,738.89		0.00		0.00		0.00		591,738.89		0.00		0.00		57,500,000.00
M-2	47,500,000.00		643,532.64		0.00		0.00		0.00		643,532.64		0.00		0.00		47,500,000.00
M-3	10,000,000.00		150,063.90		0.00		0.00		0.00		150,063.90		0.00		0.00		10,000,000.00
M-4	12,500,000.00		231,329.86		0.00		0.00		0.00		231,329.86		0.00		0.00		12,500,000.00
M-5	9,000,000.00		174,432.50		0.00		0.00		0.00		174,432.50		0.00		0.00		9,000,000.00
M-6	7,500,000.00		229,214.59		0.00		0.00		0.00		229,214.59		0.00		0.00		7,500,000.00
M-7	10,000,000.00		123,327.78		0.00		0.00		0.00		123,327.78		0.00		0.00		10,000,000.00
CE	15,000,472.05		18,488,574.50		0.00		0.00		463.47		18,489,037.97		0.00		0.00		15,000,008.58
P	100.00		1,535,928.00		0.00		0.00		0.00		1,535,928.00		0.00		0.00		100.00
R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total	1,000,000,572.05		29,205,953.12		101,444,067.22		4,213,704.22		105,658,234.91		134,864,188.02		0.00		0.00		894,342,337.14


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


	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-1A	2.20250%		572,850,176.53		1,121,513.35		0.00		0.00		0.00		1,121,513.35		1,121,513.35		0.00
A-1B	2.30250%		63,642,821.71		130,255.64		0.00		0.00		0.00		130,255.64		130,255.64		0.00
A-2	2.04250%		57,973,400.70		105,253.93		0.00		0.00		0.00		105,253.93		105,253.93		0.00
A-3	2.20250%		37,800,000.00		74,004.00		0.00		0.00		0.00		74,004.00		74,004.00		0.00
A-4	2.44250%		29,230,000.00		63,461.58		0.00		0.00		0.00		63,461.58		63,461.58		0.00
M-1	2.51250%		57,500,000.00		128,416.67		0.00		0.00		0.00		128,416.67		128,416.67		0.00
M-2	3.18250%		47,500,000.00		134,372.22		0.00		0.00		0.00		134,372.22		134,372.22		0.00
M-3	3.48250%		10,000,000.00		30,955.56		0.00		0.00		0.00		30,955.56		30,955.56		0.00
M-4	4.20250%		12,500,000.00		46,694.44		0.00		0.00		0.00		46,694.44		46,694.44		0.00
M-5	4.38250%		9,000,000.00		35,060.00		0.00		0.00		0.00		35,060.00		35,060.00		0.00
M-6	6.40981%		7,500,000.00		42,732.04		0.00		0.00		0.00		42,732.04		44,550.00		0.00
M-7	2.93250%		10,000,000.00		26,066.67		0.00		0.00		0.00		26,066.67		26,066.67		0.00
CE	268.91828%		15,000,008.58		0.00		0.00		0.00		0.00		0.00		3,361,480.40		0.00
P	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		564,757.79		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			930,496,507.52		1,938,786.10		0.00		0.00		0.00		1,938,786.10		5,866,842.25		0.00



Page 3 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Collection Account Report
SUMMARY

										Group 2		Group 1		Total
Principal Collections										5,248,044.44		30,906,125.94		36,154,170.38
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										5,248,044.44		30,906,125.94		36,154,170.38
Interest Collections										851,771.86		4,515,963.49		5,367,735.35
Interest Withdrawals														-0.00
Interest Other Accounts										0.00		0.00		564,757.79
Interest Fees										-8,398.60		-57,252.30		-65,650.89
TOTAL NET INTEREST										843,373.27		4,458,711.19		5,866,842.25
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										6,091,417.71		35,364,837.13		42,021,012.63



PRINCIPAL - COLLECTIONS

											Group 2		Group 1		Total
Scheduled Principal Received											136,353.81		675,777.97		812,131.78
Curtailments											29,516.18		54,484.63		84,000.81
Prepayments In Full											5,082,174.45		30,175,863.34		35,258,037.79
Repurchased/Substitutions											0.00		0.00		0.00
Liquidations											0.00		0.00		0.00
Insurance Principal											0.00		0.00		0.00
Other Additional Principal											0.00		0.00		0.00
Delinquent Principal											-121,212.02		-566,065.37		-687,277.39
Realized Losses											-0.00		-0.00		-0.00
Principal Recoveries
Advanced Principal											121,212.02		566,065.37		687,277.39
TOTAL PRINCIPAL COLLECTED											5,248,044.44		30,906,125.94		36,154,170.38


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS

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





Page 4 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

INTEREST - COLLECTIONS

										Group 2		Group 1		Total
Scheduled Interest										907,876.44		4,783,620.80		5,691,497.25
Repurchased/Substitution Interest										0.00		0.00		0.00
Liquidation Interest										0.00		0.00		0.00
Insurance Interest										0.00		0.00		0.00
Other Additional Interest										0.00		0.00		0.00
Prepayment Interest Shortfalls										-5,729.31		-39,476.49		-45,205.80
Delinquent Interest										-797,720.44		-3,977,346.43		-4,775,066.88
Compensating Interest										5,729.31		39,476.49		45,205.80
Civil Relief Act Shortfalls										-0.00		-0.00		-0.00
Interest Advanced										741,615.86		3,709,689.12		4,451,304.98
TOTAL INTEREST COLLECTED										851,771.86		4,515,963.49		5,367,735.35


INTEREST - WITHDRAWALS

										Group 2		Group 1		Total
Trust Fund Expenses										0.00		0.00		0.00
Non-Recoverable Advances										0.00		0.00		0.00
Reimbursements to Master Servicer										0.00		0.00		0.00

TOTAL INTEREST WITHDRAWALS														0.00



INTEREST - OTHER ACCOUNTS

										Group 2		Group 1		Total
Prepayment Charges										0.00		0.00		564,757.79
Net Wac Investment Income										0.00		0.00		0.00

TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		564,757.79



INTEREST - FEES

										Group 2		Group 1		Total
Current Servicing Fees										8,116.02		55,828.96		63,944.98
Trustee Fees										282.57		1,423.34		1,705.91

TOTAL INTEREST FEES										8,398.60		57,252.30		65,650.89




Page 5 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Credit Enhancement Report

ACCOUNTS


RESERVE

Beginning Reserve Balance						1,000.00
Reserve Funds Deposited						0.00
Amount withdrawn						0.00
Reserve Funds Distributed						0.00
Ending Balance						1,000.00



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES

										Group 2		Group 1		Total
Overcollateralized Amount														15,000,008.58
Overcollateralization Release Amount														0.00
Overcollateralization Deficiency Amount														0.00
Overcollateralization Target Amount														15,000,008.58



Page 6 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



*Loan Count:*


Original										623		5,658		6,281
Prior										573		5,374		5,947
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-18		-179		-197
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										555		5,195		5,750
*Principal Balance:*


Original										172,356,218.93		827,644,353.12		1,000,000,572.05
Prior										154,129,455.29		776,367,052.23		930,496,507.52
Prefunding										0.00		0.00		0.00
Scheduled Principal										-136,353.81		-675,777.97		-812,131.78
Partial Prepayments										-29,516.18		-54,484.63		-84,000.81
Full Voluntary Prepayments										-5,082,174.45		-30,175,863.34		-35,258,037.79
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										148,881,410.85		745,460,926.29		894,342,337.14





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Coupon Original										7.13315%		7.41895%		7.36969%
Weighted Average Coupon Prior										7.07955%		7.40238%		7.34816%
Weighted Average Coupon Current										7.06842%		7.39385%		7.33995%
Weighted Average Months to Maturity Original										355		350		351
Weighted Average Months to Maturity Prior										351		347		348
Weighted Average Months to Maturity Current										350		346		346
Weighted Avg Remaining Amortization Term Original										355		350		351
Weighted Avg Remaining Amortization Term Prior										351		347		348
Weighted Avg Remaining Amortization Term Current										350		346		346
Weighted Average Seasoning Original										2.10		2.11		2.11
Weighted Average Seasoning Prior										5.10		5.10		5.10
Weighted Average Seasoning Current										6.10		6.10		6.10









Page 8 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

ARM CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Margin Original										5.92535%		6.04064%		6.02050%
Weighted Average Margin Prior										5.92053%		6.03852%		6.01830%
Weighted Average Margin Current										5.92603%		6.03563%		6.01716%
Weighted Average Max Rate Original										13.21667%		13.51457%		13.46252%
Weighted Average Max Rate Prior										13.15082%		13.49565%		13.43653%
Weighted Average Max Rate Current										13.14348%		13.48851%		13.43037%
Weighted Average Min Rate Original										7.21667%		7.51457%		7.46252%
Weighted Average Min Rate Prior										7.15082%		7.49565%		7.43653%
Weighted Average Min Rate Current										7.14348%		7.48851%		7.43037%
Weighted Average Cap Up Original										1.00000%		1.00000%		1.00000%
Weighted Average Cap Up Prior										1.00000%		1.00000%		1.00000%
Weighted Average Cap Up Current										1.00000%		1.00000%		1.00000%
Weighted Average Cap Down Original										1.00000%		1.00000%		1.00000%
Weighted Average Cap Down Prior										1.00000%		1.00000%		1.00000%
Weighted Average Cap Down Current										1.00000%		1.00000%		1.00000%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										8,116.02		55,828.96		63,944.98
Delinquent Servicing Fees										56,104.58		267,657.31		323,761.89
TOTAL SERVICING FEES										64,220.61		323,486.28		387,706.89


Total Servicing Fees										64,220.61		323,486.28		387,706.89
Compensating Interest										-5,729.31		-39,476.49		-45,205.80
Delinquent Servicing Fees										-56,104.58		-267,657.31		-323,761.89
COLLECTED SERVICING FEES										8,116.02		55,828.96		18,739.20


Total Advaced Interest										741,615.86		3,709,689.12		4,451,304.98
Total Advaced Principal										121,212.02		566,065.37		687,277.39
Aggregate Advances with respect to this Distribution										862,827.88		4,275,754.49		5,138,582.37





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)										5,729.31		39,476.49		45,205.80
Compensating Interest										-5,729.31		-39,476.49		-45,205.80
Net Prepayment Interest Shortfall (PPIS)										0.00		0.00		0.00




Page 9 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				18,354,545.04		8,462,672.13		3,284,391.43		30,101,608.60
			% Balance				2.05%		0.95%		0.37%		3.37%
			# Loans				124		57		27		208
			% # Loans				2.16%		0.99%		0.47%		3.62%
	FORECLOSURE		Balance		0.00		0.00		0.00		4,171,499.78		4,171,499.78
			% Balance		0.00%		0.00%		0.00%		0.47%		0.47%
			# Loans		0		0		0		32		32
			% # Loans		0.00%		0.00%		0.00%		0.56%		0.56%
	BANKRUPTCY		Balance		1,378,980.90		166,259.28		0.00		369,975.40		1,915,215.58
			% Balance		0.15%		0.02%		0.00%		0.04%		0.21%
			# Loans		11		2		0		3		16
			% # Loans		0.19%		0.03%		0.00%		0.05%		0.28%
	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		1,378,980.90		18,520,804.32		8,462,672.13		7,825,866.61		36,188,323.96
			% Balance		0.15%		2.07%		0.95%		0.88%		4.05%
			# Loans		11		126		57		62		256
			% # Loans		0.19%		2.19%		0.99%		1.08%		4.45%









Page 10 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				14,536,313.19		6,290,230.99		2,722,518.63		23,549,062.81
			% Balance				1.95%		0.84%		0.37%		3.16%
			# Loans				108		47		23		178
			% # Loans				2.08%		0.90%		0.44%		3.43%
	FORECLOSURE		Balance		0.00		0.00		0.00		3,620,603.91		3,620,603.91
			% Balance		0.00%		0.00%		0.00%		0.49%		0.49%
			# Loans		0		0		0		29		29
			% # Loans		0.00%		0.00%		0.00%		0.56%		0.56%
	BANKRUPTCY		Balance		1,378,980.90		166,259.28		0.00		369,975.40		1,915,215.58
			% Balance		0.18%		0.02%		0.00%		0.05%		0.26%
			# Loans		11		2		0		3		16
			% # Loans		0.21%		0.04%		0.00%		0.06%		0.31%
	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		1,378,980.90		14,702,572.47		6,290,230.99		6,713,097.94		29,084,882.30
			% Balance		0.18%		1.97%		0.84%		0.90%		3.90%
			# Loans		11		110		47		55		223
			% # Loans		0.21%		2.12%		0.90%		1.06%		4.29%










Page 11 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				3,818,231.85		2,172,441.14		561,872.80		6,552,545.79
			% Balance				2.56%		1.46%		0.38%		4.40%
			# Loans				16		10		4		30
			% # Loans				2.88%		1.80%		0.72%		5.41%
	FORECLOSURE		Balance		0.00		0.00		0.00		550,895.87		550,895.87
			% Balance		0.00%		0.00%		0.00%		0.37%		0.37%
			# Loans		0		0		0		3		3
			% # Loans		0.00%		0.00%		0.00%		0.54%		0.54%
	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		3,818,231.85		2,172,441.14		1,112,768.67		7,103,441.66
			% Balance		0.00%		2.56%		1.46%		0.75%		4.77%
			# Loans		0		16		10		7		33
			% # Loans		0.00%		2.88%		1.80%		1.26%		5.95%









Page 12 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 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




TOTAL



Page 13 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 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
64407745 1
			103,000.00		102,416.71		01-Apr-2004		8.990%		ID - 79.23%		360		01-Feb-2004

65472102 1			277,500.00		275,381.56		01-Jun-2004		7.500%		CO - 75.00%		360		01-Feb-2004
72009707 1			114,750.00		114,311.48		01-Jun-2004		8.350%		UT - 85.00%		360		01-Jun-2004
72177124 1			66,300.00		66,147.30		01-May-2004		11.500%		FL - 83.92%		360		01-May-2004
73699423 1			79,815.00		79,647.64		01-May-2004		11.200%		MO - 83.14%		360		01-Jun-2004
73721946 1			89,250.00		89,058.79		01-May-2004		11.100%		NC - 85.00%		360		01-Jun-2004
74347980 1			221,000.00		220,113.30		01-Jun-2004		8.100%		IL - 83.40%		360		01-Jun-2004
74353723 1			108,800.00		108,367.82		01-May-2004		8.150%		PA - 85.00%		360		01-Jun-2004
74696865 1			213,750.00		212,942.90		01-Jun-2004		8.400%		MA - 75.00%		360		01-Jun-2004
74902883 1			107,250.00		106,869.07		01-May-2004		8.700%		MI - 77.16%		360		01-Jun-2004
75064584 1			132,300.00		131,815.44		01-May-2004		8.550%		IN - 90.00%		360		01-Jun-2004
75418541 1			105,000.00		104,520.31		01-Jun-2004		7.450%		NH - 64.81%		360		01-Jun-2004
75603381 1			63,000.00		62,820.02		01-Jun-2004		9.750%		PA - 58.88%		360		01-Jun-2004
75630186 1			63,750.00		63,587.84		01-May-2004		10.300%		GA - 75.00%		360		01-Jun-2004
75805002 1			60,000.00		59,867.21		01-May-2004		10.950%		NE - 75.00%		360		01-Jun-2004
75900829 1			60,000.00		59,766.47		01-May-2004		8.250%		MI - 80.00%		360		01-Jun-2004
75950568 1			97,750.00		97,473.64		01-May-2004		9.800%		FL - 85.00%		360		01-Jun-2004
75962506 1			84,750.00		84,466.38		01-Jun-2004		8.990%		MI - 75.00%		360		01-Jun-2004
76413020 1			332,000.00		330,422.35		01-May-2004		7.250%		MI - 89.73%		360		01-Jun-2004
76700822 1			195,000.00		194,271.15		01-Jun-2004		8.450%		FL - 60.00%		360		01-Jun-2004
76740323 1			60,000.00		59,837.04		01-May-2004		9.990%		GA - 54.55%		360		01-Jun-2004
76831783 1			96,000.00		95,626.32		01-May-2004		8.250%		PA - 73.85%		360		01-Jun-2004
76863349 1			60,000.00		59,813.63		01-Jun-2004		9.350%		MI - 66.67%		360		01-Jun-2004
76864727 1			127,800.00		127,292.40		01-May-2004		8.150%		IL - 90.00%		360		01-Jun-2004
76970821 1			184,984.00		184,052.36		01-Jun-2004		6.990%		CA - 61.66%		360		01-Jun-2004
77027787 1			132,000.00		131,155.25		01-Jun-2004		5.700%		UT - 81.99%		360		01-Jun-2004
77208304 1			132,000.00		131,710.42		01-Jun-2004		10.990%		GA - 83.54%		360		01-Jun-2004
77541282 1			208,000.00		207,104.81		01-Jun-2004		7.750%		WA - 87.47%		360		01-Jun-2004
77743607 1			60,000.00		59,744.30		01-Jun-2004		7.800%		AZ - 55.61%		360		01-Jun-2004
75003202 2			412,000.00		410,303.97		01-Apr-2004		8.750%		GA - 89.96%		360		01-May-2004
77531341 2			67,500.00		67,313.16		01-Jun-2004		9.900%		TN - 75.00%		360		01-Jun-2004
77660900 2			73,500.00		73,278.74		01-Jun-2004		9.500%		FL - 84.97%		360		01-Jun-2004


TOTAL			4,188,749.00		4,171,499.78



Page 14 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


											Group 2		Group 1		Total




*Current*


Number of Paid in Full Loans										18		179		197
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										18		179		197
Curtailments Amount										29,516.18		54,484.63		84,000.81
Paid in Full Balance										5,082,174.45		30,175,863.34		35,258,037.79
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										5,111,690.63		30,230,347.97		35,342,038.60

*Cumulative*


Number of Paid in Full Loans										62		431		493
Number of Repurchased Loans										6		32		38
Total Number of Loans Prepaid in Full										68		463		531
Paid in Full Balance										20,487,477.98		74,135,337.17		94,622,815.15
Repurchased Loans Balance										1,863,972.37		4,210,643.92		6,074,616.29
Curtailments Amount										414,090.81		333,008.44		747,099.25
Total Prepayment Amount										22,765,541.16		78,678,989.53		101,444,530.69










Page 15 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

VOLUNTARY PREPAYMENTS RATES


											Group 2		Group 1		Total



SMM										3.32%		3.90%		3.80%
3 Months Avg SMM										3.10%		2.61%		2.69%
12 Months Avg SMM										2.80%		1.98%		2.12%
Avg SMM Since Cut-off										2.80%		1.98%		2.12%


CPR										33.31%		37.94%		37.19%
3 Months Avg CPR										31.48%		27.17%		27.91%
12 Months Avg CPR										28.89%		21.38%		22.71%
Avg CPR Since Cut-off										28.89%		21.38%		22.71%


PSA										2,732.03%		3,111.49%		3,050.35%
3 Months Avg PSA Approximation										3,088.42%		2,665.28%		2,737.97%
12 Months Avg PSA Approximation										3,524.26%		2,606.32%		2,768.29%
Avg PSA Since Cut-off Approximation										3,524.25%		2,606.33%		2,768.29%










Page 16 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 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))

	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 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 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	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

61773446 1			116,250.00		115,769.35			14-Oct-2004		10.500%		CA - 75.00%		Paid Off - 360		1/1/2004

61883385 1			64,000.00		63,625.34			04-Nov-2004		9.500%		LA - 73.56%		Paid Off - 360		1/1/2004
62028543 2			82,400.00		81,894.86			20-Oct-2004		8.600%		TX - 80.00%		Paid Off - 360		1/1/2004
62787726 1			78,000.00		77,311.14			02-Nov-2004		6.750%		FL - 70.91%		Paid Off - 360		1/1/2004
62918826 1			284,390.00		282,302.90			03-Nov-2004		7.700%		NJ - 84.89%		Paid Off - 360		1/1/2004
64622541 1			130,500.00		129,789.88			14-Oct-2004		8.650%		MD - 90.00%		Paid Off - 360		2/1/2004
70362082 1			79,200.00		77,845.41			18-Oct-2004		8.350%		TX - 90.00%		Paid Off - 180		5/1/2004
71148647 1			185,500.00		184,703.45			21-Oct-2004		7.050%		NY - 52.25%		Paid Off - 360		6/1/2004
71376826 1			106,500.00		106,093.76			22-Oct-2004		8.350%		CA - 75.00%		Paid Off - 360		5/1/2004
71471320 1			216,750.00		215,806.33			02-Nov-2004		6.750%		CA - 85.00%		Paid Off - 360		6/1/2004
72675143 1			135,600.00		135,191.79			26-Oct-2004		8.600%		FL - 60.00%		Paid Off - 360		6/1/2004
72684822 1			271,800.00		270,874.02			15-Oct-2004		7.990%		CA - 90.00%		Paid Off - 360		6/1/2004
72913627 1			201,000.00		199,525.80			14-Oct-2004		6.150%		CT - 82.04%		Paid Off - 360		6/1/2004
72920283 1			337,500.00		336,001.85			27-Oct-2004		6.650%		HI - 85.44%		Paid Off - 360		6/1/2004
73051989 1			132,500.00		132,007.28			25-Oct-2004		8.500%		MD - 71.62%		Paid Off - 360		5/1/2004
73183063 1			80,000.00		79,754.18			01-Nov-2004		8.500%		MI - 50.00%		Paid Off - 360		6/1/2004
73329062 1			96,000.00		94,931.79			30-Oct-2004		9.800%		SC - 75.00%		Paid Off - 360		6/1/2004
73347882 1			207,195.00		206,334.13			03-Nov-2004		6.990%		HI - 76.74%		Paid Off - 360		6/1/2004
73440141 1			99,000.00		98,328.19			09-Nov-2004		9.990%		IL - 89.19%		Paid Off - 360		6/1/2004
73664708 1			288,150.00		287,473.93			13-Oct-2004		9.800%		NC - 85.00%		Paid Off - 360		6/1/2004
73855561 1			63,750.00		63,547.25			01-Nov-2004		11.550%		GA - 75.00%		Paid Off - 360		6/1/2004
73891046 1			140,000.00		139,523.02			22-Oct-2004		7.990%		CA - 80.00%		Paid Off - 360		6/1/2004
73954240 1			182,750.00		182,233.38			26-Oct-2004		9.800%		MA - 85.00%		Paid Off - 360		5/1/2004
74205683 1			315,000.00		313,873.92			09-Nov-2004		7.750%		MA - 90.00%		Paid Off - 360		6/1/2004
74243189 1			195,500.00		194,606.67			09-Nov-2004		6.500%		MA - 72.41%		Paid Off - 360		6/1/2004
74361205 1			237,000.00		236,438.08			29-Oct-2004		9.750%		NY - 78.48%		Paid Off - 360		6/1/2004
74592924 1			113,000.00		112,563.21			13-Oct-2004		7.750%		CA - 81.88%		Paid Off - 360		6/1/2004
74639105 1			63,750.00		63,616.89			15-Oct-2004		10.350%		FL - 75.00%		Paid Off - 360		6/1/2004
74658980 1			72,250.00		72,111.49			10-Nov-2004		10.750%		MO - 85.00%		Paid Off - 360		6/1/2004
74676669 1			205,600.00		204,564.18			02-Nov-2004		5.990%		NV - 79.08%		Paid Off - 360		6/1/2004
74706300 1			333,000.00		332,319.36			18-Oct-2004		10.450%		WA - 83.25%		Paid Off - 360		6/1/2004
74706441 1			280,000.00		279,046.10			19-Oct-2004		7.990%		CA - 80.00%		Paid Off - 360		6/1/2004
74785809 2			565,000.00		562,652.59			21-Oct-2004		6.990%		CA - 67.26%		Paid Off - 360		6/1/2004
74787169 1			170,000.00		169,361.22			29-Oct-2004		7.500%		IL - 72.96%		Paid Off - 360		6/1/2004
74792441 1			89,250.00		89,089.31			09-Nov-2004		13.150%		CT - 85.00%		Paid Off - 360		6/1/2004
74826843 1			86,400.00		86,137.23			18-Oct-2004		8.550%		NC - 90.00%		Paid Off - 360		6/1/2004
74843962 1			279,000.00		277,951.67			18-Oct-2004		7.500%		OH - 90.00%		Paid Off - 360		6/1/2004




Page 18 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

74870023 1			178,000.00		177,113.54			02-Nov-2004		6.050%		CA - 75.63%		Paid Off - 360		6/1/2004

74882069 1			78,000.00		77,396.73			14-Oct-2004		6.990%		TX - 70.91%		Paid Off - 300		6/1/2004
74884305 1			179,500.00		178,901.87			03-Nov-2004		8.100%		MN - 89.75%		Paid Off - 360		6/1/2004
74887480 1			250,000.00		249,208.07			22-Oct-2004		8.350%		CA - 65.79%		Paid Off - 360		6/1/2004
74913104 1			205,000.00		204,016.94			03-Nov-2004		6.250%		MD - 89.52%		Paid Off - 360		6/1/2004
74914565 1			188,500.00		187,596.34			09-Nov-2004		6.250%		MA - 66.74%		Paid Off - 360		6/1/2004
74917741 1			94,500.00		94,178.04			01-Nov-2004		7.990%		MS - 90.00%		Paid Off - 360		6/1/2004
74960949 1			220,500.00		219,695.86			19-Oct-2004		7.650%		NV - 90.00%		Paid Off - 360		6/1/2004
74961749 1			146,999.00		146,590.62			02-Nov-2004		8.990%		NV - 60.00%		Paid Off - 360		6/1/2004
74967365 1			83,000.00		82,655.14			11-Oct-2004		6.990%		FL - 55.33%		Paid Off - 360		6/1/2004
75087841 2			174,250.00		173,656.21			02-Nov-2004		7.990%		RI - 85.00%		Paid Off - 360		6/1/2004
75103267 1			104,470.00		103,992.61			21-Oct-2004		6.500%		WI - 90.00%		Paid Off - 360		6/1/2004
75115469 1			184,944.00		184,098.89			05-Nov-2004		6.500%		FL - 82.20%		Paid Off - 360		6/1/2004
75177162 1			295,000.00		292,579.79			19-Oct-2004		5.850%		CA - 77.63%		Paid Off - 360		6/1/2004
75193243 1			105,000.00		104,539.13			12-Oct-2004		7.250%		FL - 70.95%		Paid Off - 360		6/1/2004
75232629 2			77,000.00		76,774.02			21-Oct-2004		8.750%		IL - 38.12%		Paid Off - 360		6/1/2004
75272781 1			198,000.00		197,162.78			04-Nov-2004		6.900%		CA - 88.79%		Paid Off - 360		6/1/2004
75292201 1			160,500.00		160,016.88			19-Oct-2004		8.600%		WA - 75.00%		Paid Off - 360		6/1/2004
75333781 1			128,000.00		127,560.37			26-Oct-2004		7.950%		MN - 60.95%		Paid Off - 360		6/1/2004
75335687 2			126,000.00		125,649.94			27-Oct-2004		8.990%		CO - 90.00%		Paid Off - 360		6/1/2004
75336420 1			109,500.00		109,195.77			03-Nov-2004		8.990%		CA - 60.00%		Paid Off - 360		6/1/2004
75341800 1			204,000.00		203,404.52			02-Nov-2004		8.750%		ME - 60.00%		Paid Off - 360		6/1/2004
75447029 1			225,250.00		224,557.96			29-Oct-2004		8.500%		IL - 83.43%		Paid Off - 360		6/1/2004
75455907 1			158,000.00		157,457.36			03-Nov-2004		7.950%		IL - 64.49%		Paid Off - 360		6/1/2004
75459503 1			125,000.00		124,341.15			12-Oct-2004		5.750%		FL - 89.29%		Paid Off - 360		6/1/2004
75490623 1			261,000.00		260,019.32			15-Oct-2004		7.500%		MD - 90.00%		Paid Off - 360		6/1/2004
75509802 1			100,000.00		99,560.39			15-Oct-2004		6.700%		CA - 25.97%		Paid Off - 360		6/1/2004
75524967 1			96,000.00		95,765.07			21-Oct-2004		9.600%		FL - 58.18%		Paid Off - 360		6/1/2004
75537860 1			105,000.00		104,628.34			13-Oct-2004		7.800%		MD - 75.00%		Paid Off - 360		6/1/2004
75541888 1			110,500.00		110,158.73			08-Nov-2004		8.600%		FL - 85.00%		Paid Off - 360		6/1/2004
75570168 1			176,000.00		173,731.50			08-Nov-2004		5.800%		CA - 44.00%		Paid Off - 300		6/1/2004
75575126 1			102,500.00		102,168.67			30-Oct-2004		8.250%		CA - 59.59%		Paid Off - 360		6/1/2004
75635706 1			189,000.00		188,152.88			19-Oct-2004		6.600%		MA - 70.52%		Paid Off - 360		6/1/2004
75640045 1			210,000.00		208,942.19			27-Oct-2004		5.990%		CA - 76.36%		Paid Off - 360		6/1/2004
75642009 1			110,000.00		109,610.67			02-Nov-2004		7.800%		CA - 57.89%		Paid Off - 360		6/1/2004
75665364 1			289,000.00		287,997.45			04-Nov-2004		7.900%		MA - 82.34%		Paid Off - 360		6/1/2004
75669622 1			88,000.00		87,620.55			02-Nov-2004		6.800%		CA - 73.33%		Paid Off - 360		6/1/2004
75681122 1			82,000.00		81,774.97			04-Nov-2004		9.050%		MD - 74.55%		Paid Off - 360		6/1/2004




Page 19 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

75693028 1			240,000.00		239,488.08			12-Oct-2004		10.250%		NY - 78.69%		Paid Off - 360		6/1/2004

75712901 1			109,000.00		108,629.27			27-Oct-2004		8.100%		MN - 77.30%		Paid Off - 360		6/1/2004
75722488 2			454,700.00		452,662.00			28-Oct-2004		6.600%		CA - 84.99%		Paid Off - 360		6/1/2004
75735340 1			80,000.00		79,667.61			30-Oct-2004		6.990%		OH - 89.89%		Paid Off - 360		6/1/2004
75735589 1			124,200.00		123,798.49			13-Oct-2004		8.250%		NH - 60.00%		Paid Off - 360		6/1/2004
75774802 1			163,500.00		162,820.68			18-Oct-2004		6.990%		NY - 83.85%		Paid Off - 360		6/1/2004
75788364 1			119,200.00		118,862.62			09-Nov-2004		8.900%		CA - 59.60%		Paid Off - 360		6/1/2004
75801068 1			144,000.00		143,485.11			11-Oct-2004		7.990%		RI - 80.00%		Paid Off - 360		6/1/2004
75816561 1			210,000.00		209,170.88			08-Nov-2004		7.250%		IL - 84.00%		Paid Off - 360		6/1/2004
75846428 1			123,500.00		122,973.42			18-Oct-2004		7.500%		NH - 63.33%		Paid Off - 360		6/1/2004
75847681 2			388,000.00		387,080.07			28-Oct-2004		9.750%		NY - 71.85%		Paid Off - 360		6/1/2004
75848267 1			93,500.00		93,218.52			21-Oct-2004		8.600%		WI - 79.24%		Paid Off - 360		6/1/2004
75868364 1			287,500.00		286,248.34			29-Oct-2004		6.750%		CA - 78.77%		Paid Off - 360		6/1/2004
75878140 2			372,000.00		370,025.70			02-Nov-2004		5.990%		CA - 79.32%		Paid Off - 360		6/1/2004
75926048 1			60,000.00		59,806.06			02-Nov-2004		8.250%		HI - 73.17%		Paid Off - 360		6/1/2004
75949826 1			229,700.00		228,956.48			02-Nov-2004		8.250%		NY - 72.92%		Paid Off - 360		6/1/2004
76001809 1			192,500.00		191,620.38			04-Nov-2004		6.500%		CA - 76.39%		Paid Off - 360		6/1/2004
76012541 1			300,000.00		298,280.27			25-Oct-2004		5.300%		CA - 69.77%		Paid Off - 360		6/1/2004
76058544 1			216,000.00		214,984.16			28-Oct-2004		6.350%		CA - 84.71%		Paid Off - 360		6/1/2004
76066844 1			165,000.00		164,410.10			30-Oct-2004		7.750%		MD - 75.00%		Paid Off - 360		6/1/2004
76067743 1			112,456.00		111,988.78			20-Oct-2004		6.990%		FL - 72.15%		Paid Off - 360		6/1/2004
76069244 1			110,000.00		109,694.37			09-Nov-2004		8.990%		CA - 44.00%		Paid Off - 360		6/1/2004
76151547 1			102,000.00		101,576.19			15-Oct-2004		6.990%		IL - 57.93%		Paid Off - 360		6/1/2004
76163021 1			289,000.00		288,156.40			02-Nov-2004		8.750%		CA - 85.00%		Paid Off - 360		6/1/2004
76170588 1			400,000.00		398,706.99			10-Nov-2004		8.250%		NY - 78.90%		Paid Off - 360		6/1/2004
76171982 1			88,000.00		87,737.77			04-Nov-2004		8.650%		MD - 80.00%		Paid Off - 360		6/1/2004
76172287 1			92,250.00		91,486.13			29-Oct-2004		8.990%		MD - 75.00%		Paid Off - 360		6/1/2004
76181684 1			114,300.00		113,741.49			13-Oct-2004		6.150%		MI - 93.69%		Paid Off - 360		6/1/2004
76208180 1			175,000.00		174,128.47			18-Oct-2004		6.050%		CA - 87.06%		Paid Off - 360		6/1/2004
76212026 1			162,000.00		161,223.35			21-Oct-2004		6.250%		CA - 87.57%		Paid Off - 360		6/1/2004
76219666 1			120,000.00		119,408.01			20-Oct-2004		6.100%		CO - 75.00%		Paid Off - 360		6/1/2004
76241728 2			68,850.00		68,570.02			08-Nov-2004		7.100%		FL - 85.00%		Paid Off - 360		6/1/2004
76275023 1			106,200.00		105,746.52			09-Nov-2004		6.850%		PA - 90.00%		Paid Off - 360		6/1/2004
76275569 1			192,000.00		191,233.54			19-Oct-2004		7.250%		CA - 68.57%		Paid Off - 360		6/1/2004
76279587 1			171,000.00		170,524.92			02-Nov-2004		8.990%		MD - 84.65%		Paid Off - 360		6/1/2004
76318187 1			537,000.00		534,639.28			02-Nov-2004		6.700%		CA - 64.31%		Paid Off - 360		6/1/2004
76321108 1			325,000.00		323,571.25			02-Nov-2004		6.700%		CA - 69.15%		Paid Off - 360		6/1/2004
76344845 1			139,500.00		138,201.12			13-Oct-2004		7.350%		TN - 90.00%		Paid Off - 240		6/1/2004




Page 20 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

76358209 1			227,000.00		225,909.04			03-Nov-2004		6.250%		WA - 74.92%		Paid Off - 360		6/1/2004

76359843 1			119,400.00		119,101.67			08-Nov-2004		9.500%		GA - 85.90%		Paid Off - 360		6/1/2004
76369560 1			230,400.00		229,472.31			21-Oct-2004		7.150%		NH - 90.00%		Paid Off - 360		6/1/2004
76375666 1			151,000.00		150,403.84			11-Oct-2004		7.250%		MD - 68.64%		Paid Off - 360		6/1/2004
76384148 1			285,000.00		284,097.25			14-Oct-2004		8.350%		NY - 75.00%		Paid Off - 360		6/1/2004
76399567 2			575,000.00		572,136.42			09-Nov-2004		6.050%		CA - 84.56%		Paid Off - 360		6/1/2004
76441765 1			132,000.00		131,451.54			10-Nov-2004		6.990%		AZ - 89.80%		Paid Off - 360		6/1/2004
76452143 1			71,000.00		70,770.49			03-Nov-2004		8.250%		WI - 64.55%		Paid Off - 360		6/1/2004
76536283 1			283,450.00		282,038.39			26-Oct-2004		6.050%		CA - 89.98%		Paid Off - 360		6/1/2004
76537422 1			83,000.00		82,736.46			01-Nov-2004		8.350%		IL - 87.37%		Paid Off - 360		6/1/2004
76540145 1			132,000.00		131,378.99			20-Oct-2004		6.350%		CA - 62.86%		Paid Off - 360		6/1/2004
76582287 1			140,250.00		139,860.34			18-Oct-2004		8.990%		CT - 85.00%		Paid Off - 360		6/1/2004
76601244 1			140,500.00		139,900.09			26-Oct-2004		6.850%		CA - 89.21%		Paid Off - 360		6/1/2004
76614866 1			251,570.00		250,364.01			03-Nov-2004		6.250%		NH - 75.10%		Paid Off - 360		6/1/2004
76640580 1			225,000.00		224,059.94			15-Oct-2004		6.990%		CA - 72.58%		Paid Off - 360		6/1/2004
76644723 1			170,400.00		169,832.18			10-Nov-2004		8.100%		RI - 80.00%		Paid Off - 360		6/1/2004
76713387 1			204,000.00		202,914.64			12-Oct-2004		5.700%		FL - 87.93%		Paid Off - 360		6/1/2004
76719764 2			457,000.00		455,282.82			20-Oct-2004		7.500%		CA - 81.75%		Paid Off - 360		6/1/2004
76726686 2			162,000.00		161,454.68			10-Nov-2004		8.050%		MN - 77.14%		Paid Off - 360		6/1/2004
76752948 2			208,250.00		207,510.11			25-Oct-2004		8.100%		MD - 83.30%		Paid Off - 360		6/1/2004
76756121 1			212,500.00		211,390.43			15-Oct-2004		5.800%		CA - 85.69%		Paid Off - 360		6/1/2004
76756428 1			203,850.00		203,191.06			19-Oct-2004		8.250%		IL - 90.60%		Paid Off - 360		6/1/2004
76795087 1			144,000.00		143,373.04			19-Oct-2004		6.750%		CT - 90.00%		Paid Off - 360		6/1/2004
76825587 1			237,500.00		236,667.76			20-Oct-2004		7.850%		MA - 68.25%		Paid Off - 360		6/1/2004
76849702 1			91,000.00		90,834.39			14-Oct-2004		10.990%		CT - 64.54%		Paid Off - 360		6/1/2004
76863307 1			131,000.00		130,593.41			18-Oct-2004		8.450%		RI - 59.55%		Paid Off - 360		6/1/2004
76870641 1			222,100.00		221,367.36			15-Oct-2004		8.150%		CA - 59.87%		Paid Off - 360		6/1/2004
76894005 1			135,000.00		134,492.74			14-Oct-2004		7.500%		CA - 90.00%		Paid Off - 360		6/1/2004
76935428 1			97,500.00		97,276.01			26-Oct-2004		9.900%		KS - 75.00%		Paid Off - 360		6/1/2004
76936863 1			114,000.00		113,498.84			08-Nov-2004		6.700%		FL - 67.86%		Paid Off - 360		6/1/2004
76939487 1			313,775.00		312,859.10			26-Oct-2004		8.750%		NY - 80.04%		Paid Off - 360		6/1/2004
76949361 1			257,178.00		256,276.85			21-Oct-2004		7.850%		NY - 79.13%		Paid Off - 360		6/1/2004
76952282 1			116,000.00		115,550.99			25-Oct-2004		7.350%		CA - 36.25%		Paid Off - 360		6/1/2004
76977321 1			60,000.00		59,842.04			21-Oct-2004		9.250%		CA - 27.27%		Paid Off - 360		6/1/2004
77039006 1			60,000.00		59,867.82			13-Oct-2004		10.100%		FL - 20.00%		Paid Off - 360		6/1/2004
77058584 1			184,500.00		183,840.39			28-Oct-2004		7.750%		CA - 90.00%		Paid Off - 360		6/1/2004
77060663 1			236,932.00		235,635.51			18-Oct-2004		5.550%		MA - 83.43%		Paid Off - 360		6/1/2004
77119667 1			105,000.00		104,581.35			21-Oct-2004		7.200%		CA - 22.83%		Paid Off - 360		6/1/2004




Page 21 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

77124303 1			119,700.00		119,320.15			20-Oct-2004		11.200%		NY - 90.00%		Paid Off - 360		6/1/2004

77150563 1			80,250.00		80,015.74			14-Oct-2004		8.750%		FL - 75.00%		Paid Off - 360		6/1/2004
77153021 2			60,000.00		59,804.04			20-Oct-2004		8.200%		FL - 52.17%		Paid Off - 360		6/1/2004
77173821 1			168,000.00		166,448.47			15-Oct-2004		6.300%		PA - 70.59%		Paid Off - 360		6/1/2004
77188522 1			255,000.00		254,291.54			29-Oct-2004		8.990%		MI - 99.00%		Paid Off - 360		6/1/2004
77198364 1			174,800.00		174,162.48			09-Nov-2004		7.650%		GA - 87.40%		Paid Off - 360		6/1/2004
77208668 2			440,000.00		437,890.68			22-Oct-2004		6.250%		CA - 80.00%		Paid Off - 360		6/1/2004
77216349 1			188,038.00		187,397.38			25-Oct-2004		7.990%		CA - 59.69%		Paid Off - 360		6/1/2004
77272409 1			93,000.00		92,683.13			14-Oct-2004		7.990%		FL - 58.13%		Paid Off - 360		6/1/2004
77294064 1			115,000.00		114,081.44			18-Oct-2004		6.800%		NH - 46.56%		Paid Off - 360		6/1/2004
77298842 1			153,000.00		152,474.52			02-Nov-2004		7.950%		CA - 24.56%		Paid Off - 360		6/1/2004
77299386 2			123,000.00		122,799.64			01-Nov-2004		11.500%		RI - 57.21%		Paid Off - 360		6/1/2004
77300366 1			252,000.00		250,859.57			22-Oct-2004		6.550%		CA - 70.00%		Paid Off - 360		6/1/2004
77334365 1			164,000.00		163,572.73			19-Oct-2004		9.300%		WI - 82.00%		Paid Off - 360		6/1/2004
77351104 1			75,000.00		74,822.16			04-Nov-2004		9.750%		MA - 59.52%		Paid Off - 360		6/1/2004
77356525 1			160,000.00		159,404.74			19-Oct-2004		7.550%		RI - 64.00%		Paid Off - 360		6/1/2004
77362283 2			369,900.00		368,034.77			19-Oct-2004		5.990%		FL - 90.00%		Paid Off - 360		6/1/2004
77406668 2			403,000.00		398,295.88			15-Oct-2004		6.200%		CA - 94.82%		Paid Off - 360		6/1/2004
77427904 1			244,000.00		242,895.77			28-Oct-2004		6.550%		MA - 73.49%		Paid Off - 360		6/1/2004
77460665 1			60,000.00		59,770.03			05-Nov-2004		7.400%		FL - 37.50%		Paid Off - 360		6/1/2004
77476380 1			236,000.00		234,751.77			30-Oct-2004		5.800%		CA - 63.37%		Paid Off - 360		6/1/2004
77484640 1			189,350.00		188,442.24			10-Nov-2004		6.250%		MD - 90.00%		Paid Off - 360		6/1/2004
77486728 1			130,000.00		129,297.86			28-Oct-2004		6.450%		MA - 61.03%		Paid Off - 360		6/1/2004
77533966 1			291,000.00		288,947.30			20-Oct-2004		5.700%		MI - 63.12%		Paid Off - 360		6/1/2004
77538767 1			319,600.00		317,958.05			15-Oct-2004		5.900%		CA - 77.95%		Paid Off - 360		6/1/2004
77550085 1			191,250.00		190,502.35			14-Oct-2004		7.300%		CA - 75.00%		Paid Off - 360		6/1/2004
77589141 1			115,000.00		114,584.65			26-Oct-2004		7.700%		MA - 71.88%		Paid Off - 360		6/1/2004
77593903 1			100,000.00		99,618.73			28-Oct-2004		7.500%		FL - 40.00%		Paid Off - 360		6/1/2004
77597102 1			208,000.00		207,411.28			02-Nov-2004		8.900%		MD - 82.90%		Paid Off - 360		6/1/2004
77639300 1			238,000.00		236,743.89			09-Nov-2004		6.750%		CA - 78.03%		Paid Off - 360		6/1/2004
77648327 1			254,749.00		253,527.73			25-Oct-2004		6.250%		MD - 83.52%		Paid Off - 360		6/1/2004
77673622 1			81,000.00		80,633.39			30-Oct-2004		6.550%		FL - 22.22%		Paid Off - 360		6/1/2004
77681526 1			215,250.00		214,181.38			03-Nov-2004		6.990%		CA - 75.00%		Paid Off - 360		6/1/2004
77702900 1			75,000.00		74,776.53			12-Oct-2004		8.650%		MN - 60.98%		Paid Off - 360		6/1/2004
77747327 1			198,000.00		197,112.50			08-Nov-2004		6.600%		CA - 94.29%		Paid Off - 360		6/1/2004
77757342 1			277,200.00		276,365.57			25-Oct-2004		8.600%		FL - 75.95%		Paid Off - 360		6/1/2004
77801264 1			199,800.00		198,930.15			29-Oct-2004		6.750%		NY - 90.00%		Paid Off - 360		6/1/2004
77833028 1			161,500.00		161,023.72			29-Oct-2004		8.700%		PA - 85.00%		Paid Off - 360		6/1/2004




Page 22 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

77864049 1			76,000.00		75,684.24			05-Nov-2004		6.990%		MI - 80.00%		Paid Off - 360		6/1/2004

77908663 1			144,300.00		143,657.42			28-Oct-2004		6.650%		MN - 82.46%		Paid Off - 360		6/1/2004
78008380 1			100,000.00		99,609.03			15-Oct-2004		7.300%		CA - 60.24%		Paid Off - 360		6/1/2004
78074481 1			225,000.00		224,233.43			30-Oct-2004		7.990%		NY - 75.00%		Paid Off - 360		6/1/2004
78075546 1			191,000.00		190,419.17			29-Oct-2004		8.550%		MA - 74.90%		Paid Off - 360		6/1/2004
79065488 1			114,750.00		114,411.82			27-Oct-2004		7.750%		WI - 85.00%		Paid Off - 360		7/1/2004
79262580 1			243,700.00		242,969.73			27-Oct-2004		7.500%		MD - 74.98%		Paid Off - 360		7/1/2004
79306965 1			88,000.00		87,209.65			02-Nov-2004		5.750%		IL - 80.00%		Paid Off - 240		7/1/2004


TOTAL			35,409,446.00		35,258,037.79



Page 23 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


*Current*




Number of Loans Liquidated										0		0		0
Collateral Principal Realized Loss/(Gain) Amount										0.00		0.00		0.00
Collateral Interest 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










Page 24 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution


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 25 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 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 26 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative

&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)





TOTAL



Page 27 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS

										Group 2		Group 1		Total
Is there a TRIGGER in effect (0=No,1=Yes)														0
Has Stepdown Condition Occurred (0=No,1=Yes)														0


60 + Day Delinquent Balance
Ending Principal Balance										148,881,410.85		745,460,926.29		894,342,337.14
Delinquency Percentage														1.990000%


Certificate Balances OF MEZZANINE and C Certs														169,000,008.58
Credit Enhancement Percentage														0.190000%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

										Group 2		Group 1		Total
Current LIBOR														1.930000%
NEXT LIBOR														2.180000%




Page 28 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

										NEXT PTR			CarryOver		CarryOver Paid
CLASS

			A-1A							0.02%			0.00		0.00

			A-1B							0.03%			0.00		0.00

			A-2							0.05%			0.00		0.00

			A-4							0.03%			0.00		0.00

			M-1							0.03%			0.00		0.00

			M-2							0.03%			0.00		0.00

			M-3							0.04%			0.00		0.00

			M-4							0.04%			0.00		0.00

			M-5							0.05%			0.00		0.00

			M-6							0.06%			0.00		1,817.96

			M-7							0.06%			0.00		0.00

			CE							0.00%			0.00		0.00

			P							0.00%			0.00		0.00

			R							0.00%			0.00		0.00





Page 29 of 30
Ameriquest Mortgage Securities, Inc. 2004-R5

Asset Backed Pass-Through Certificates

2004-R5

November 26, 2004 Distribution
Other Related Information
ADDITIONAL INFORMATION

SPACE INTENTIONALLY LEFT BLANK




Page 30 of 30

ASSET-BACKED PASS-THROUGH CERTIFICATES, SERIES 2004-R5 8-K