
                                     UNITED STATES
                           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):  December 27, 2004
                          (Date of earliest event reported)

                      Accredited Home Capital,Inc.(as Seller, under the
                 Indenture dated as November 1,2004 providing for the
                            issuance of Mortgage Loan Trust 2004-4
                (Exact name of Registrant as specified in its Charter)

                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-109964-05                             33-0426859
          (Commission File Number)        (I.R.S. Employer Identification No.)


          15030 Avenue of Science
          San Diego, Californis                         92128
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (858) 676-2100

            (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
     December 27, 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
                                  Indenture Agreement on behalf of
                                  Accredited Home Capital Inc.,Registrant


          Date:  Dec 28, 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 December 27, 2004.



Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution

				External Parties					Table of Contents

												Page
				Seller								Page
				Seller					1. Certificate Payment Report					2
				Accredited Mortgage Loan					1. Certificate Payment Report					2
				Accredited Mortgage Loan					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
				Accredited Home Lenders					12. Triggers and Adj. Cert. Report					23
				Accredited Home Lenders					13. Other Related Information					24
									13. Other Related Information					24


				Underwriter(s)
				Goldman, Sachs & Co.


									Total Number of Pages					24
									Total Number of Pages

				Dates					Contacts

				Cut-Off Date:		November 01, 2004			Eiko Akiyama
				Close Date:		November 22, 2004			Administrator
				First Distribution Date:		December 25, 2004			(714) 247-6328

									Address:
									1761 East St. Andrew Place, Santa Ana, CA 92514
				Distribution Date:		December 27, 2004
									Factor Information:			(800) 735-7777
				Record Date:		November 30, 2004			Factor Information:			(800) 735-7777
									Main Phone Number:			(714) 247-6000

						December 24, 2004
						December 24, 2004

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






Page 1 of 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution
Certificate Payment Report
Current Period Distribution -
					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-1A	SR,FLT	$	309,736,000.00		309,736,000.00	746,807.91		1,600,434.34		2,347,242.25		0.00		0.00		308,135,565.66
A-1A	SR,FLT	$	309,736,000.00		309,736,000.00	746,807.91		1,600,434.34		2,347,242.25		0.00		0.00		308,135,565.66
A-1B	SR,FLT	$	77,435,000.00		77,435,000.00	190,468.59		400,113.75		590,582.34		0.00		0.00		77,034,886.25
A-2A	SR,FLT	$	62,279,000.00		62,279,000.00	138,657.27		1,185,159.70		1,323,816.97		0.00		0.00		61,093,840.30
A-2B	SR,FLT	$	60,417,000.00		60,417,000.00	144,497.33		0.00		144,497.33		0.00		0.00		60,417,000.00
A-2C	SR,FLT	$	30,406,000.00		30,406,000.00	78,042.07		0.00		78,042.07		0.00		0.00		30,406,000.00
A-2D	SR,FLT	$	322,076,000.00		322,076,000.00	779,692.32		2,493,184.26		3,272,876.58		0.00		0.00		319,582,815.74
M-1	MEZ,FLT	$	64,925,000.00		64,925,000.00	171,690.56		0.00		171,690.56		0.00		0.00		64,925,000.00
M-2	MEZ,FLT	$	50,788,000.00		50,788,000.00	157,513.34		0.00		157,513.34		0.00		0.00		50,788,000.00
M-3	MEZ,FLT	$	13,613,000.00		13,613,000.00	44,866.18		0.00		44,866.18		0.00		0.00		13,613,000.00
M-4	MEZ,FLT	$	10,996,000.00		10,996,000.00	41,051.73		0.00		41,051.73		0.00		0.00		10,996,000.00
M-5	MEZ,FLT	$	10,471,000.00		10,471,000.00	40,109.75		0.00		40,109.75		0.00		0.00		10,471,000.00
M-6	MEZ,AFC	$	12,043,000.00		12,043,000.00	52,688.13		0.00		52,688.13		0.00		0.00		12,043,000.00
TRUST		$	0.00		0.00	1,838,396.60		0.00		1,838,396.60		0.00		0.00		0.00


Total			1,025,185,000.00		1,025,185,000.00	4,424,481.78		5,678,892.05		10,103,373.83		0.00		0.00		1,019,506,107.95
Total




Interest Accrual Detail Current Period Factor Information per $1,000 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-1A	11/22/04		12/26/04		A-Act/360	004375CA7		309,736,000.00		1,000.000000		2.411111		5.167092		7.578203	994.832908
A-1B	11/22/04		12/26/04		A-Act/360	004375CB5		77,435,000.00		1,000.000000		2.459722		5.167092		7.626814	994.832908
A-2A	11/22/04		12/26/04		A-Act/360	004375CC3		62,279,000.00		1,000.000000		2.226389		19.029845		21.256234	980.970155
A-2B	11/22/04		12/26/04		A-Act/360	004375CD1		60,417,000.00		1,000.000000		2.391667		0.000000		2.391667	1,000.000000
A-2C	11/22/04		12/26/04		A-Act/360	004375CE9		30,406,000.00		1,000.000000		2.566667		0.000000		2.566667	1,000.000000
A-2D	11/22/04		12/26/04		A-Act/360	004375CF6		322,076,000.00		1,000.000000		2.420833		7.740981		10.161815	992.259019
M-1	11/22/04		12/26/04		A-Act/360	004375CG4		64,925,000.00		1,000.000000		2.644445		0.000000		2.644445	1,000.000000
M-2	11/22/04		12/26/04		A-Act/360	004375CH2		50,788,000.00		1,000.000000		3.101389		0.000000		3.101389	1,000.000000
M-3	11/22/04		12/26/04		A-Act/360	004375CJ8		13,613,000.00		1,000.000000		3.295833		0.000000		3.295833	1,000.000000
M-4	11/22/04		12/26/04		A-Act/360	004375CK5		10,996,000.00		1,000.000000		3.733333		0.000000		3.733333	1,000.000000
M-5	11/22/04		12/26/04		A-Act/360	004375CL3		10,471,000.00		1,000.000000		3.830556		0.000000		3.830556	1,000.000000
M-6	11/01/04		11/30/04		F-30/360	004375CM1		12,043,000.00		1,000.000000		4.375000		0.000000		4.375000	1,000.000000
TRUST	11/01/04		11/30/04		AC0404101	0.00		0.000000		0.000000		0.000000		0.000000		0.000000




Page 2 of 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution

Distribution to Date -
																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	309,736,000.00		746,807.91		1,304,582.26	295,852.08		1,600,434.34		2,347,242.25		0.00		0.00		308,135,565.66
A-1B	77,435,000.00		190,468.59		326,149.78	73,963.97		400,113.75		590,582.34		0.00		0.00		77,034,886.25
A-2A	62,279,000.00		138,657.27		1,036,383.95	148,775.75		1,185,159.70		1,323,816.97		0.00		0.00		61,093,840.30
A-2B	60,417,000.00		144,497.33		0.00	0.00		0.00		144,497.33		0.00		0.00		60,417,000.00
A-2C	30,406,000.00		78,042.07		0.00	0.00		0.00		78,042.07		0.00		0.00		30,406,000.00
A-2D	322,076,000.00		779,692.32		2,180,209.25	312,975.01		2,493,184.26		3,272,876.58		0.00		0.00		319,582,815.74
M-1	64,925,000.00		171,690.56		0.00	0.00		0.00		171,690.56		0.00		0.00		64,925,000.00
M-2	50,788,000.00		157,513.34		0.00	0.00		0.00		157,513.34		0.00		0.00		50,788,000.00
M-3	13,613,000.00		44,866.18		0.00	0.00		0.00		44,866.18		0.00		0.00		13,613,000.00
M-4	10,996,000.00		41,051.73		0.00	0.00		0.00		41,051.73		0.00		0.00		10,996,000.00
M-5	10,471,000.00		40,109.75		0.00	0.00		0.00		40,109.75		0.00		0.00		10,471,000.00
M-6	12,043,000.00		52,688.13		0.00	0.00		0.00		52,688.13		0.00		0.00		12,043,000.00
TRUST	0.00		1,838,396.60		0.00	0.00		0.00		1,838,396.60		0.00		0.00		0.00


Total	1,025,185,000.00		4,424,481.78		4,847,325.24	831,566.81		5,678,892.05		10,103,373.83		0.00		0.00		1,019,506,107.95


Interest Detail -
	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-1A	2.48000%		309,736,000.00		746,807.91	0.00		0.00		0.00		746,807.91		746,807.91		0.00
A-1B	2.53000%		77,435,000.00		190,468.59	0.00		0.00		0.00		190,468.59		190,468.59		0.00
A-2A	2.29000%		62,279,000.00		138,657.27	0.00		0.00		0.00		138,657.27		138,657.27		0.00
A-2B	2.46000%		60,417,000.00		144,497.33	0.00		0.00		0.00		144,497.33		144,497.33		0.00
A-2C	2.64000%		30,406,000.00		78,042.07	0.00		0.00		0.00		78,042.07		78,042.07		0.00
A-2D	2.49000%		322,076,000.00		779,692.32	0.00		0.00		0.00		779,692.32		779,692.32		0.00
M-1	2.72000%		64,925,000.00		171,690.56	0.00		0.00		0.00		171,690.56		171,690.56		0.00
M-2	3.19000%		50,788,000.00		157,513.34	0.00		0.00		0.00		157,513.34		157,513.34		0.00
M-3	3.39000%		13,613,000.00		44,866.18	0.00		0.00		0.00		44,866.18		44,866.18		0.00
M-4	3.84000%		10,996,000.00		41,051.73	0.00		0.00		0.00		41,051.73		41,051.73		0.00
M-5	3.94000%		10,471,000.00		40,109.75	0.00		0.00		0.00		40,109.75		40,109.75		0.00
M-6	4.28299%		12,043,000.00		42,983.36	0.00		0.00		0.00		42,983.36		52,688.13		0.00
TRUST	0.00000%		0.00		0.00	0.00		0.00		0.00		0.00		1,838,396.60		0.00


Total			1,025,185,000.00		2,576,380.41	0.00		0.00		0.00		2,576,380.41		4,424,481.78		0.00



Page 3 of 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution
Collection Account Report
SUMMARY
SUMMARY
									Group 2		Group 1		Total
Principal Collections									3,678,343.96		2,000,548.09		5,678,892.05
Principal Withdrawals									0.00		0.00		0.00
Principal Other Accounts									0.00		0.00		0.00
TOTAL NET PRINCIPAL									3,678,343.96		2,000,548.09		5,678,892.05
Interest Collections									3,187,745.10		2,563,542.77		5,751,287.87
Interest Withdrawals									-0.00		-0.00		-0.00
Interest Fees									-64,531.68		-52,754.35		-117,286.02
Interest Other Accounts													(1,209,520.07)
TOTAL NET INTEREST									2,421,455.94		1,939,002.35		4,424,481.78
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION													10,103,373.83



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Principal Received										461,750.73		369,816.03		831,566.76
Curtailments										(59,818.88)		(28,165.80)		(87,984.68)
Prepayments In Full										2,588,412.11		1,373,397.86		3,961,809.97
Repurchased/Substitutions										0.00		285,500.00		285,500.00
Liquidations										688,000.00		0.00		688,000.00
Insurance Principal										0.00		0.00		0.00
Other Additional Principal										0.00		0.00		0.00
Delinquent Principal										-348,546.32		-273,335.09		-621,881.41
Realized Losses										-0.00		-0.00		-0.00
Advanced Principal										348,546.32		273,335.09		621,881.41
TOTAL PRINCIPAL COLLECTED										3,678,343.96		2,000,548.09		5,678,892.05


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



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





Page 4 of 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
									Group 2		Group 1		Total
Scheduled Interest									3,360,665.69		2,706,256.07		6,066,921.76
Repurchased/Substitution Interest									0.00		1,213.14		1,213.14
Liquidation Interest									3,935.60		0.00		3,935.60
Insurance Interest									0.00		0.00		0.00
Other Additional Interest									0.00		0.00		0.00
Prepayment Interest Shortfalls									-1,854.52		-699.73		-2,554.25
Delinquent Interest									-2,484,526.99		-1,993,141.76		-4,477,668.75
Compensating Interest									1,854.52		699.73		2,554.25
Civil Relief Act Shortfalls									-0.00		-0.00		-0.00
Interest Advanced									2,307,670.80		1,849,215.32		4,156,886.12
TOTAL INTEREST COLLECTED									3,187,745.10		2,563,542.77		5,751,287.87


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
									Group 2		Group 1		Total
Non-Recoverable Advances									0.00		0.00		0.00
Reimbursements to Master Servicer									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													64,023.48
Net Swap Payment									(701,757.49)		(571,786.06)		(1,273,543.55)
TOTAL INTEREST OTHER ACCOUNTS													(1,209,520.07)



INTEREST - FEES
INTEREST - FEES
									Group 2		Group 1		Total
Current Servicing Fees									63,569.97		51,970.76		115,540.73
Tax Fees
Trustee Fees									961.70		783.59		1,745.29
TOTAL INTEREST FEES									64,531.68		52,754.35		117,286.02




Page 5 of 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution
Credit Enhancement Report
ACCOUNTS
ACCOUNTS
									Group 2		Group 1		Total
Basis Risk CarryOver Deposit													9,704.77
Basis Risk CarryOver Amount Paid													9,704.77



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
									Group 2		Group 1		Total
Overcollateralized Amount													21,991,083.00
Overcollateralization Reduction Amount													0.00
Overcollateralization Deficiency Amount													0.00
Overcollateralization Target Amount													21,991,083.00




Page 6 of 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution
Collateral Report


COLLATERAL



										Group 2		Group 1		Total



*Loan Count:*


Original									3,391		3,107		6,498
Prior									3,391		3,107		6,498
Prefunding									0		0		0
Scheduled Paid Offs									-0		-0		-0
Full Voluntary Prepayments									-11		-7		-18
Repurchases									-0		-1		-1
Liquidations									-2		-0		-2
Current									3,378		3,099		6,477
*Principal Balance:*


Original									577,022,792.25		470,153,290.80		1,047,176,083.05
Prior									577,022,792.25		470,153,290.80		1,047,176,083.05
Prefunding									0.00		0.00		0.00
Scheduled Principal									-461,750.73		-369,816.03		-831,566.76
Partial Prepayments									(59,818.88)		(28,165.80)		#######
Full Voluntary Prepayments									-2,588,412.11		-1,373,397.86		-3,961,809.97
Repurchases									-0.00		-285,500.00		-285,500.00
Liquidations									-688,000.00		-0.00		-688,000.00
Current									573,344,448.26		468,152,742.69		1,041,497,190.95





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution

CHARACTERISTICS
CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Coupon Original									6.99716%		6.91043%		6.95822%
Weighted Average Coupon Prior									6.99716%		6.91043%		6.95822%
Weighted Average Coupon Current									6.99716%		6.91043%		6.95822%
Weighted Average Months to Maturity Original									352		354		353
Weighted Average Months to Maturity Prior									352		354		353
Weighted Average Months to Maturity Current									352		354		353
Weighted Avg Remaining Amortization Term Original									352		354		353
Weighted Avg Remaining Amortization Term Prior									352		354		353
Weighted Avg Remaining Amortization Term Current									352		354		353
Weighted Average Seasoning Original									2.03		2.03		2.03
Weighted Average Seasoning Prior									2.03		2.03		2.03
Weighted Average Seasoning Current									2.03		2.03		2.03









Page 8 of 24
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Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Margin Original									5.67173%		5.51245%		5.58970%
Weighted Average Margin Prior									5.67173%		5.51245%		5.58970%
Weighted Average Margin Current									5.67173%		5.51245%		5.58970%
Weighted Average Max Rate Original									14.06294%		13.89017%		13.97397%
Weighted Average Max Rate Prior									14.06294%		13.89017%		13.97397%
Weighted Average Max Rate Current									14.06294%		13.89017%		13.97397%
Weighted Average Min Rate Original									7.06294%		6.89323%		6.97554%
Weighted Average Min Rate Prior									7.06294%		6.89323%		6.97554%
Weighted Average Min Rate Current									7.06294%		6.89323%		6.97554%
Weighted Average Cap Up Original									1.49903%		1.49629%		1.49762%
Weighted Average Cap Up Prior									1.49903%		1.49629%		1.49762%
Weighted Average Cap Up Current									1.49903%		1.49629%		1.49762%
Weighted Average Cap Down Original									1.49903%		1.49629%		1.49762%
Weighted Average Cap Down Prior									1.49903%		1.49629%		1.49762%
Weighted Average Cap Down Current									1.49903%		1.49629%		1.49762%




SERVICING FEES & ADVANCES

										Group 2		Group 1		Total




Current Servicing Fees									63,569.97		51,970.76		115,540.73
Delinquent Servicing Fees									176,856.19		143,926.44		320,782.63
TOTAL SERVICING FEES									240,426.17		195,897.21		436,323.38


Total Servicing Fees									240,426.17		195,897.21		436,323.38
Compensating Interest									-1,854.52		-699.73		-2,554.25
Delinquent Servicing Fees									-176,856.19		-143,926.44		-320,782.63
COLLECTED SERVICING FEES									63,569.97		51,970.76		112,986.49


Total Advanced Interest									2,307,670.80		1,849,215.32		4,156,886.12
Total Advanced Principal									348,546.32		273,335.09		621,881.41
Aggregate Advances with respect to this Distribution									2,656,217.12		2,122,550.41		4,778,767.53





ADDITIONAL COLLATERAL INFORMATION
									Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)									1,854.52		699.73		2,554.25
Compensating Interest									-1,854.52		-699.73		-2,554.25
Net Prepayment Interest Shortfall (PPIS)									0.00		0.00		0.00

Ending Pool Stated Principal Balance									573,344,448.26		468,152,742.69		1,041,497,190.95
Weighted Average Net Mortgage Rate									5.035758%		4.949030%		4.996820%




Page 9 of 24
Accredited Mortgage Loan Trust 2004-4

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Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			590,961.51		0.00		0.00		590,961.51
			% Balance			0.06%		0.00%		0.00%		0.06%
			# Loans			6		0		0		6
			% # Loans			0.09%		0.00%		0.00%		0.09%
	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	590,961.51		0.00		0.00		590,961.51
			% Balance		0.00%	0.06%		0.00%		0.00%		0.06%
			# Loans		0	6		0		0		6
			% # Loans		0.00%	0.09%		0.00%		0.00%		0.09%









Page 10 of 24
Accredited Mortgage Loan Trust 2004-4

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Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution


	GROUP 1
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			448,167.77		0.00		0.00		448,167.77
			% Balance			0.10%		0.00%		0.00%		0.10%
			# Loans			4		0		0		4
			% # Loans			0.13%		0.00%		0.00%		0.13%
	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	448,167.77		0.00		0.00		448,167.77
			% Balance		0.00%	0.10%		0.00%		0.00%		0.10%
			# Loans		0	4		0		0		4
			% # Loans		0.00%	0.13%		0.00%		0.00%		0.13%










Page 11 of 24
Accredited Mortgage Loan Trust 2004-4

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Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution

	GROUP 2
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			142,793.74		0.00		0.00		142,793.74
			% Balance			0.02%		0.00%		0.00%		0.02%
			# Loans			2		0		0		2
			% # Loans			0.06%		0.00%		0.00%		0.06%
	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	142,793.74		0.00		0.00		142,793.74
			% Balance		0.00%	0.02%		0.00%		0.00%		0.02%
			# Loans		0	2		0		0		2
			% # Loans		0.00%	0.06%		0.00%		0.00%		0.06%









Page 12 of 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 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 24
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Mortgage Pass-Through Certificates
2004-4

December 27, 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 24
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Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

										Group 2		Group 1		Total




*Current*


Number of Paid in Full Loans									11		7		18
Number of Repurchased Loans									0		1		1
Total Number of Loans Prepaid in Full									11		8		19
Curtailments Amount									-59,818.88		-28,165.80		-87,984.68
Paid in Full Balance									2,588,412.11		1,373,397.86		3,961,809.97
Repurchased Loans Balance									0.00		285,500.00		285,500.00
Total Prepayment Amount									2,528,593.23		1,630,732.06		4,159,325.29

*Cumulative*


Number of Paid in Full Loans									11		7		18
Number of Repurchased Loans									0		1		1
Total Number of Loans Prepaid in Full									11		8		19
Paid in Full Balance									2,588,412.11		1,373,397.86		3,961,809.97
Repurchased Loans Balance									0.00		285,500.00		285,500.00
Curtailments Amount									-59,818.88		-28,165.80		-87,984.68
Total Prepayment Amount									2,528,593.23		1,630,732.06		4,159,325.29










Page 15 of 24
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Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

										Group 2		Group 1		Total



SMM									0.56%		0.35%		0.46%
3 Months Avg SMM									0.56%		0.35%		0.46%
12 Months Avg SMM									0.56%		0.35%		0.46%
Avg SMM Since Cut-off									0.56%		0.35%		0.46%


CPR									6.49%		4.09%		5.42%
3 Months Avg CPR									6.49%		4.09%		5.42%
12 Months Avg CPR									6.49%		4.09%		5.42%
Avg CPR Since Cut-off									6.49%		4.09%		5.42%


PSA									1,600.63%		1,007.07%		1,335.79%
3 Months Avg PSA Approximation									1,600.62%		1,007.06%		1,335.78%
12 Months Avg PSA Approximation									1,600.62%		1,007.06%		1,335.78%
Avg PSA Since Cut-off Approximation									1,600.62%		1,007.06%		1,335.78%










Page 16 of 24
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Mortgage Pass-Through Certificates
2004-4

December 27, 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 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 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

407238131 1			119,000.00		118,835.66		14-Dec-2004		7.875%		WI - 85.00%		Paid Off - 360		10/1/2004
407238131 1			119,000.00		118,835.66		14-Dec-2004		7.875%		WI - 85.00%		Paid Off - 360		10/1/2004
407282803 1			200,500.00		200,153.77		16-Nov-2004		6.750%		CA - 83.20%		Paid Off - 360		10/1/2004
407294060 1			100,000.00		99,835.24		22-Nov-2004		6.990%		MA - 50.00%		Paid Off - 360		10/1/2004
407305619 2			216,750.00		216,384.75		02-Dec-2004		6.875%		CA - 85.00%		Paid Off - 360		10/1/2004
407305775 2			63,000.00		62,778.63		23-Nov-2004		7.750%		OH - 70.00%		Paid Off - 240		10/1/2004
408063813 2			400,000.00		399,404.43		03-Dec-2004		7.500%		MD - 80.00%		Paid Off - 360		10/1/2004
408129799 2			481,500.00		480,668.55		16-Nov-2004		6.750%		NJ - 90.00%		Paid Off - 360		10/1/2004
408163022 1			500,000.00		499,255.52		09-Dec-2004		7.500%		CA - 74.63%		Paid Off - 360		10/1/2004
408197626 2			201,000.00		200,835.20		22-Nov-2004		6.999%		OH - 85.53%		Paid Off - 360		11/1/2004
408197959 2			269,100.00		268,797.14		07-Dec-2004		8.875%		NV - 69.00%		Paid Off - 360		10/1/2004
408198269 1			201,450.00		201,311.36		07-Dec-2004		7.875%		IL - 85.00%		Paid Off - 360		11/1/2004
408243848 2			156,000.00		155,910.24		10-Dec-2004		8.750%		CA - 70.27%		Paid Off - 360		11/1/2004
409035458 2			105,000.00		104,941.13		14-Dec-2004		8.875%		WI - 75.00%		Paid Off - 360		11/1/2004
409133665 2			108,000.00		107,911.45		22-Nov-2004		6.999%		OH - 80.00%		Paid Off - 360		11/1/2004
409160060 2			352,000.00		351,758.48		08-Dec-2004		7.890%		WI - 80.00%		Paid Off - 360		11/1/2004
409202623 2			239,200.00		239,022.12		01-Dec-2004		7.490%		AZ - 80.00%		Paid Off - 360		11/1/2004
409214022 1			155,000.00		154,895.99		14-Dec-2004		8.000%		NJ - 76.73%		Paid Off - 360		11/1/2004
409226006 1			99,200.00		99,110.31		30-Nov-2004		6.500%		GA - 80.00%		Paid Off - 360		11/1/2004
410052102 1			285,500.00		285,500.00		15-Dec-2004		5.099%		NV - 53.87%		Repur/Subs - 360		12/1/2004


TOTAL			4,252,200.00		4,247,309.97
TOTAL


Page 18 of 24
Accredited Mortgage Loan Trust 2004-4

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Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



										Group 2		Group 1		Total


*Current*
*Current*



Number of Loans Liquidated									2		0		2
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									688,000.00		0.00		688,000.00

*Cumulative*
*Cumulative*



Number of Loans Liquidated									2		0		2
Collateral Realized Loss/(Gain) Amount									0.00		0.00		0.00
Net Liquidation Proceeds									688,000.00		0.00		688,000.00










Page 19 of 24
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Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution


DEFAULT SPEEDS



										Group 2		Group 1		Total



MDR									0.12%		0.00%		0.07%
3 Months Avg MDR									0.12%		0.00%		0.07%
12 Months Avg MDR									0.12%		0.00%		0.07%
Avg MDR Since Cut-off									0.12%		0.00%		0.07%


CDR									1.42%		0.00%		0.79%
3 Months Avg CDR									1.42%		0.00%		0.79%
12 Months Avg CDR									1.42%		0.00%		0.79%
Avg CDR Since Cut-off									1.42%		0.00%		0.79%


SDA									35.04%		0.00%		19.36%
3 Months Avg SDA Approximation									35.04%		0.00%		19.36%
12 Months Avg SDA Approximation									35.04%		0.00%		19.36%
Avg SDA Since Cut-off Approximation									35.04%		0.00%		19.36%


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 24
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Mortgage Pass-Through Certificates
2004-4

December 27, 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 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution
Realized Loss Detail Report
Loan Number			Current		State &			Prior		Realized				Cumulative
														Cumulative
&		Loan	Note		LTV at	Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination	Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group		Status	Rate		Origination	Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
410086173 2
410086173 2			6.990%		NY - 80.00%	360		256,000.00				0.00

410131045 2			6.790%		FL - 80.00%	360		432,000.00				0.00


TOTAL								688,000.00			0.00		0.00



Page 22 of 24
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Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
									Group 2		Group 1		Total
Has the Stepdown Date Occurred? (0=No,1=Yes)													0

Does the Group I Seq. Trigger Event Exist? (0=No,1=Yes)													0

Does the Trigger Event Exist? (0=No,1=Yes)													0

A Trigger Event Exists if either (i) or (ii) are true

(i) The quotient of ( (1)/(2) > (3) )
(1) 60+ Day Rolling Delinquency Balance													0.00
(2) Stated Principal Balance													1,041,497,190.95
60+ Day Delinquency % ( (1)/(2) )													0.000000%
(3) 37% of Senior Enhancement %													6.364379%

(ii) The quotient of ( (4)/(5) > (6))
(4) Aggregate Cumulative Realized Loss													0.00
(5) Cutoff Date Pool Principal Balance													1,047,176,083.05
Trigger Event Loss % ( (4)/(5) )													0.000000%
(6) Applicable Loss %													0.000000%


ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Current LIBOR Rate													2.140000%
Next LIBOR Rate													2.417500%




Page 23 of 24
Accredited Mortgage Loan Trust 2004-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2004-4

December 27, 2004 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Current Scheduled Payments													6,898,488.52
Current Scheduled Payments 1 Month Prior													0.00
Current Scheduled Payments 2 Month Prior													0.00
Current Scheduled Payments 3 Month Prior													0.00
Current Scheduled Payments 4 Month Prior													0.00
Current Scheduled Payments 5 Month Prior													0.00
Current Scheduled Payments 6 Month Prior													0.00
Current Scheduled Payments 7 Month Prior													0.00
Current Scheduled Payments 8 Month Prior													0.00
Current Scheduled Payments 9 Month Prior													0.00
Current Scheduled Payments 10 Month Prior													0.00
Current Scheduled Payments 11 Month Prior													0.00

Delinquent 60+ Scheduled Payments													0.00
Delinq. 60+ Sched. Pmnts, 1 Month Prior													0.00
Delinq. 60+ Sched. Pmnts, 2 Month Prior													0.00
Delinq. 60+ Sched. Pmnts, 3 Month Prior													0.00
Delinq. 60+ Sched. Pmnts, 4 Month Prior													0.00
Delinq. 60+ Sched. Pmnts, 5 Month Prior													0.00
Delinq. 60+ Sched. Pmnts, 6 Month Prior													0.00
Delinq. 60+ Sched. Pmnts, 7 Month Prior													0.00
Delinq. 60+ Sched. Pmnts, 8 Month Prior													0.00
Delinq. 60+ Sched. Pmnts, 9 Month Prior													0.00
Delinq. 60+ Sched. Pmnts, 10 Month Prior													0.00
Delinq. 60+ Sched. Pmnts, 11 Month Prior													0.00




Page 24 of 24

Accredited Mortgage Loan Trust 2004-4 8-K