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): ~~November~~December 2627, 2004 (Date of earliest event reported) Ameriquest Mortgage Securities Inc (as Depositor under the Trust Agreement, dated as July 1, 2004, providing for the issuance of Asset-Backed Pass-Through Certificates, Series 2004-R7) (Exact name of registrant as specified in charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-112203-03 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) 564-0660 (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~~December 2627, 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 0630, 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~~December 2627, 2004.

Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
				External Parties					Table of Contents
												Page
				Seller
									1. Certificate Payment Report					2
				Ameriquest Mortgage Corp
									2. Collection Account Report					6
									3. Credit Enhancement Report					8
									4. Collateral Report					9
				Certificate Insurer(s)					5. Delinquency Report					12
									6. REO Report					15
				Financial Security Assurance					7. Foreclosure Report					16
									8. Prepayment Report					1718
									9. Prepayment Detail Report					2021
									10. Realized Loss Report					2931
									11. Realized Loss Detail Report					3234
				Servicer(s)
									12. Triggers and Adj. Cert. Report					3335
				Ameriquest Mortgage Corp
									13. Additional Certificate Report					3436
				Underwriter(s)
				Citigroup
									Total Number of Pages					3436
				Dates					Contacts
				Cut-Off Date:		July 01, 2004			~~Valerie~~Tim ~~Delgado~~Avakian
				Close Date:		July 07, 2004			Administrator
				First Distribution Date:		August 25, 2004			(714) 247-~~6273~~6279
									valerie.m.delgado@db.com
									tim.avakian@db.com
									Address:
									1761 East St. Andrew Place, Santa Ana, CA 92705
									1761 E. St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:		~~November~~December 2627, 2004
									Factor Information:			(800) 735-7777
				Record Date:		~~October~~November 2930, 2004
									Main Phone Number:			(714) 247-6000
						November 24, 2004
						December 24, 2004
									https://www.tss.db.com/invr
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Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
Certificate Payment Report
Current Period Distribution - REMIC I
					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-1		$	1,588,146,000.00		1,~~519~~475,~~516~~894,~~609~~893.6409	23,~~907~~050,~~341~~983.7845		4350,~~621~~435,~~716~~178.5584		4653,~~529~~486,~~058~~162.3329		0.00		0.00		1,~~475~~425,~~894~~459,~~893~~714.0925
A-2		$	99,339,000.00		8064,~~393~~719,~~606~~561.8428	~~147~~128,~~388~~773.2810		1514,~~674~~154,~~045~~023.5640		1514,~~821~~282,~~433~~796.8450		0.00		0.00		6450,~~719~~565,~~561~~537.2888
A-3		$	141,544,000.00		141,544,000.00	~~277~~298,~~111~~695.7031		0.00		~~277~~298,~~111~~695.7031		0.00		0.00		141,544,000.00
A-4		$	81,370,000.00		81,370,000.00	~~177~~189,~~386~~229.6039		0.00		~~177~~189,~~386~~229.6039		0.00		0.00		81,370,000.00
A-5		$	41,800,000.00		3123,~~993~~880,~~755~~780.9008	5847,~~370~~310.8317		87,~~112~~326,~~975~~203.8265		87,~~171~~373,~~346~~513.6582		0.00		0.00		2316,~~880~~554,~~780~~576.0843
A-6		$	125,000,000.00		125,000,000.00	~~255~~274,~~833~~546.3398		0.00		~~255~~274,~~833~~546.3398		0.00		0.00		125,000,000.00
M-1		$	45,600,000.00		45,600,000.00	99106,~~408~~044.0074		0.00		99106,~~408~~044.0074		0.00		0.00		45,600,000.00
M-2		$	18,000,000.00		18,000,000.00	4143,~~000~~564.0077		0.00		4143,~~000~~564.0077		0.00		0.00		18,000,000.00
M-3		$	57,600,000.00		57,600,000.00	~~133~~141,~~760~~887.0025		0.00		~~133~~141,~~760~~887.0025		0.00		0.00		57,600,000.00
M-4		$	28,800,000.00		28,800,000.00	6872,~~672~~679.0062		0.00		6872,~~672~~679.0062		0.00		0.00		28,800,000.00
M-5		$	26,400,000.00		26,400,000.00	7275,~~336~~716.0032		0.00		7275,~~336~~716.0032		0.00		0.00		26,400,000.00
M-6		$	30,000,000.00		30,000,000.00	8791,~~533~~207.3394		0.00		8791,~~533~~207.3394		0.00		0.00		30,000,000.00
M-7		$	22,800,000.00		22,800,000.00	7376,~~618~~189.6770		0.00		7376,~~618~~189.6770		0.00		0.00		22,800,000.00
M-8		$	20,400,000.00		20,400,000.00	7173,~~309~~439.3373		0.00		7173,~~309~~439.3373		0.00		0.00		20,400,000.00
M-9		$	20,400,000.00		20,400,000.00	7476,~~029~~074.3373		0.00		7476,~~029~~074.3373		0.00		0.00		20,400,000.00
M-10		$	16,800,000.00		16,800,000.00	7778,~~392~~563.0011		0.00		7778,~~392~~563.0011		0.00		0.00		16,800,000.00
M-11		$	12,000,000.00		12,000,000.00	4748,~~280~~366.0051		0.00		4748,~~280~~366.0051		0.00		0.00		12,000,000.00
CE		$	23,998,448.29		23,999,975.48	76,~~294~~734,~~178~~395.9790		0.00		76,~~294~~734,~~178~~395.9790		0.00		0.00		23,999,975.48
P		$	100.00		100.00	1,~~129~~202,~~212~~103.8175		0.00		1,~~129~~202,~~212~~103.8175		0.00		0.00		100.00
R		$	0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00
Total			2,399,997,548.29		2,~~302~~235,~~618~~209,~~047~~309.8693	1312,~~093~~809,~~162~~772.9647		6771,~~408~~915,~~737~~405.9389		8084,~~501~~725,~~900~~178.8936		0.00		0.00		2,~~235~~163,~~209~~293,~~309~~904.9304
Page 2 of 34
Page 2 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
Interest Accrual Detail Current Period Factor Information per $1,0000 of Original Face-
Interest Accrual Detail Current Period Factor Information per $1,000 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-1	1011/2526/04		1112/2526/04		A-Act/360	03072STB1		1,588,146,000.00		~~956~~929.~~786473~~319403		1.~~830651~~921098		2731.~~467069~~757268		2933.~~297721~~678366	~~929~~897.~~319403~~562135
A-2	1011/2526/04		1112/2526/04		A-Act/360	03072STC9		99,339,000.00		~~809~~651.~~285445~~502041		1.~~483690~~296300		~~157~~142.~~783404~~482040		~~159~~143.~~267094~~778340	~~651~~509.~~502041~~020001
A-3	1011/2526/04		1112/2526/04		A-Act/360	03072STD7		141,544,000.00		1,000.000000		12.~~957778~~110265		0.000000		12.~~957778~~110265	1,000.000000
A-4	1011/2526/04		1112/2526/04		A-Act/360	03072STE5		81,370,000.00		1,000.000000		2.~~180000~~325542		0.000000		2.~~180000~~325542	1,000.000000
A-5	1011/2526/04		1112/2526/04		A-Act/360	03072STF2		41,800,000.00		~~765~~571.~~400859~~310528		1.~~396431~~131822		~~194~~175.~~090331~~268030		~~195~~176.~~486762~~399852	~~571~~396.~~310528~~042498
A-6	1011/2526/04		1112/2526/04		A-Act/360	03072STT2		125,000,000.00		1,000.000000		2.~~046667~~196376		0.000000		2.~~046667~~196376	1,000.000000
M-1	1011/2526/04		1112/2526/04		A-Act/360	03072STG0		45,600,000.00		1,000.000000		2.~~180000~~325543		0.000000		2.~~180000~~325543	1,000.000000
M-2	1011/2526/04		1112/2526/04		A-Act/360	03072STH8		18,000,000.00		1,000.000000		2.~~277778~~420265		0.000000		2.~~277778~~420265	1,000.000000
M-3	1011/2526/04		1112/2526/04		A-Act/360	03072STJ4		57,600,000.00		1,000.000000		2.~~322222~~463320		0.000000		2.~~322222~~463320	1,000.000000
M-4	1011/2526/04		1112/2526/04		A-Act/360	03072STK1		28,800,000.00		1,000.000000		2.~~384444~~523598		0.000000		2.~~384444~~523598	1,000.000000
M-5	1011/2526/04		1112/2526/04		A-Act/360	03072STL9		26,400,000.00		1,000.000000		2.~~740000~~868042		0.000000		2.~~740000~~868042	1,000.000000
M-6	1011/2526/04		1112/2526/04		A-Act/360	03072STM7		30,000,000.00		1,000.000000		23.~~917778~~040265		0.000000		23.~~917778~~040265	1,000.000000
M-7	1011/2526/04		1112/2526/04		A-Act/360	03072STN5		22,800,000.00		1,000.000000		3.~~228889~~341654		0.000000		3.~~228889~~341654	1,000.000000
M-8	1011/2526/04		1112/2526/04		A-Act/360	03072STP0		20,400,000.00		1,000.000000		3.~~495555~~599987		0.000000		3.~~495555~~599987	1,000.000000
M-9	1011/2526/04		1112/2526/04		A-Act/360	03072STQ8		20,400,000.00		1,000.000000		3.~~628889~~729153		0.000000		3.~~628889~~729153	1,000.000000
M-10	1011/2526/04		1112/2526/04		A-Act/360	03072STR6		16,800,000.00		1,000.000000		4.~~606667~~676376		0.000000		4.~~606667~~676376	1,000.000000
M-11	1011/2526/04		1112/2526/04		A-Act/360	03072STS4		12,000,000.00		1,000.000000		34.~~940000~~030543		0.000000		34.~~940000~~030543	1,000.000000
CE	1011/01/04		1011/30/04		F-30/360	AQ04R7201		23,998,448.29		1,000.063637		~~303~~280.~~943775~~617972		0.000000		~~303~~280.~~943775~~617972	1,000.063637
P	1011/01/04		1011/30/04		A-30/360	AQ04R7202		100.00		1,000.000000		###############		0.000000		###############	1,000.000000
R	1011/01/04		1011/30/04		A-30/360	AQ04R7203		0.00		0.000000		0.000000		0.000000		0.000000	0.000000
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Page 3 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
Distribution to Date - REMIC I
																Current
	Original				Unscheduled	Scheduled		Total		Total		Realized		Deferred		Principal
Class	Face Value		Interest		Principal	Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)	(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
A-1	1,588,146,000.00		1114,~~436~~487,~~446~~429.2873		~~105~~154,~~664~~504,~~010~~877.0760	68,~~587~~181,~~096~~408.8415		~~112~~162,~~251~~686,~~106~~285.9175		~~123~~177,~~687~~173,~~553~~715.1948		0.00		0.00		1,~~475~~425,~~894~~459,~~893~~714.0925
A-2	99,339,000.00		~~636~~765,~~533~~306.2535		3347,~~355~~212,~~258~~256.2362	1,~~264~~561,~~180~~205.4950		3448,~~619~~773,~~438~~462.7212		3549,~~255~~538,~~971~~768.9747		0.00		0.00		6450,~~719~~565,~~561~~537.2888
A-3	141,544,000.00		1,~~068~~366,~~008~~703.4677		0.00	0.00		0.00		1,~~068~~366,~~008~~703.4677		0.00		0.00		141,544,000.00
A-4	81,370,000.00		~~694~~883,~~210~~439.4281		0.00	0.00		0.00		~~694~~883,~~210~~439.4281		0.00		0.00		81,370,000.00
A-5	41,800,000.00		~~260~~308,~~712~~022.3956		1724,~~264~~437,~~872~~334.8566	~~654~~808,~~347~~088.0791		1725,~~919~~245,~~219~~423.9257		1825,~~179~~553,~~932~~446.3113		0.00		0.00		2316,~~880~~554,~~780~~576.0843
A-6	125,000,000.00		~~992~~1,~~482~~267,029.6462		0.00	0.00		0.00		~~992~~1,~~482~~267,029.6462		0.00		0.00		125,000,000.00
M-1	45,600,000.00		~~389~~495,~~037~~082.6640		0.00	0.00		0.00		~~389~~495,~~037~~082.6640		0.00		0.00		45,600,000.00
M-2	18,000,000.00		~~161~~204,~~377~~942.5027		0.00	0.00		0.00		~~161~~204,~~377~~942.5027		0.00		0.00		18,000,000.00
M-3	57,600,000.00		~~527~~669,~~768~~655.0025		0.00	0.00		0.00		~~527~~669,~~768~~655.0025		0.00		0.00		57,600,000.00
M-4	28,800,000.00		~~271~~344,~~836~~515.0062		0.00	0.00		0.00		~~271~~344,~~836~~515.0062		0.00		0.00		28,800,000.00
M-5	26,400,000.00		~~290~~366,~~836~~552.3466		0.00	0.00		0.00		~~290~~366,~~836~~552.3466		0.00		0.00		26,400,000.00
M-6	30,000,000.00		~~354~~445,~~162~~370.4943		0.00	0.00		0.00		~~354~~445,~~162~~370.4943		0.00		0.00		30,000,000.00
M-7	22,800,000.00		~~300~~376,~~640~~829.1787		0.00	0.00		0.00		~~300~~376,~~640~~829.1787		0.00		0.00		22,800,000.00
M-8	20,400,000.00		~~293~~366,~~133~~573.8356		0.00	0.00		0.00		~~293~~366,~~133~~573.8356		0.00		0.00		20,400,000.00
M-9	20,400,000.00		~~305~~381,~~203~~278.8356		0.00	0.00		0.00		~~305~~381,~~203~~278.8356		0.00		0.00		20,400,000.00
M-10	16,800,000.00		~~324~~402,~~237~~800.6778		0.00	0.00		0.00		~~324~~402,~~237~~800.6778		0.00		0.00		16,800,000.00
M-11	12,000,000.00		~~196~~244,~~098~~464.3384		0.00	0.00		0.00		~~196~~244,~~098~~464.3384		0.00		0.00		12,000,000.00
CE	23,998,448.29		3037,~~482~~216,~~390~~785.0797		0.00	0.00		0.00		3037,~~482~~216,~~390~~785.0797		0.00		1,527.19		23,999,975.48
P	100.00		23,~~091~~293,~~562~~666.9671		0.00	0.00		0.00		23,~~091~~293,~~562~~666.9671		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	2,399,997,548.29		5163,~~076~~886,~~678~~450.2976		~~156~~226,~~284~~154,~~141~~468.1588	810,~~505~~550,~~624~~702.4056		~~164~~236,~~789~~705,~~765~~171.5544		~~215~~300,~~866~~591,~~443~~622.8420		0.00		1,527.19		2,~~235~~163,~~209~~293,~~309~~904.9304
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Page 4 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
Interest Detail - REMIC I
	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-1	2.~~15250~~40063%		1,~~519~~475,~~516~~894,~~609~~893.6409		23,~~907~~050,~~341~~983.7845	0.00		0.00		0.00		23,~~907~~050,~~341~~983.7845		23,~~907~~050,~~341~~983.7845		0.00
A-2	2.~~06250~~31063%		8064,~~393~~719,~~606~~561.8428		~~147~~128,~~388~~773.2810	0.00		0.00		0.00		~~147~~128,~~388~~773.2810		~~147~~128,~~388~~773.2810		0.00
A-3	2.~~20250~~45063%		141,544,000.00		~~277~~298,~~111~~695.7031	0.00		0.00		0.00		~~277~~298,~~111~~695.7031		~~277~~298,~~111~~695.7031		0.00
A-4	2.~~45250~~70063%		81,370,000.00		~~177~~189,~~386~~229.6039	0.00		0.00		0.00		~~177~~189,~~386~~229.6039		~~177~~189,~~386~~229.6039		0.00
A-5	2.~~05250~~30063%		3123,~~993~~880,~~755~~780.9008		5847,~~370~~310.8317	0.00		0.00		0.00		5847,~~370~~310.8317		5847,~~370~~310.8317		0.00
A-6	2.~~30250~~55063%		125,000,000.00		~~255~~274,~~833~~546.3398	0.00		0.00		0.00		~~255~~274,~~833~~546.3398		~~255~~274,~~833~~546.3398		0.00
M-1	2.~~45250~~70063%		45,600,000.00		99106,~~408~~044.0074	0.00		0.00		0.00		99106,~~408~~044.0074		99106,~~408~~044.0074		0.00
M-2	2.~~56250~~81063%		18,000,000.00		4143,~~000~~564.0076	0.00		0.00		0.00		4143,~~000~~564.0076		4143,~~000~~564.0077		0.00
M-3	2.~~61250~~86063%		57,600,000.00		~~133~~141,~~760~~887.0025	0.00		0.00		0.00		~~133~~141,~~760~~887.0025		~~133~~141,~~760~~887.0025		0.00
M-4	2.~~68250~~93063%		28,800,000.00		6872,~~672~~679.0062	0.00		0.00		0.00		6872,~~672~~679.0062		6872,~~672~~679.0062		0.00
M-5	3.~~08250~~33063%		26,400,000.00		7275,~~336~~716.0032	0.00		0.00		0.00		7275,~~336~~716.0032		7275,~~336~~716.0032		0.00
M-6	3.~~28250~~53063%		30,000,000.00		8791,~~533~~207.3394	0.00		0.00		0.00		8791,~~533~~207.3394		8791,~~533~~207.3394		0.00
M-7	3.~~63250~~88063%		22,800,000.00		7376,~~618~~189.6770	0.00		0.00		0.00		7376,~~618~~189.6770		7376,~~618~~189.6770		0.00
M-8	34.~~93250~~18063%		20,400,000.00		7173,~~309~~439.3373	0.00		0.00		0.00		7173,~~309~~439.3373		7173,~~309~~439.3373		0.00
M-9	4.~~08250~~33063%		20,400,000.00		7476,~~029~~074.3373	0.00		0.00		0.00		7476,~~029~~074.3373		7476,~~029~~074.3373		0.00
M-10	5.~~18250~~43063%		16,800,000.00		7778,~~392~~563.0011	0.00		0.00		0.00		7778,~~392~~563.0011		7778,~~392~~563.0011		0.00
M-11	4.~~43250~~68063%		12,000,000.00		4748,~~280~~366.0051	0.00		0.00		0.00		4748,~~280~~366.0051		4748,~~280~~366.0051		0.00
CE	~~364~~336.~~70932~~72014%		23,999,975.48		0.00	0.00		0.00		0.00		0.00		76,~~294~~734,~~178~~395.9790		0.00
P	0.00000%		100.00		0.00	0.00		0.00		0.00		0.00		1,~~129~~202,~~212~~103.8175		0.00
R	0.00000%		0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00
Total			2,~~302~~235,~~618~~209,~~047~~309.8693		4,~~669~~873,~~771~~272.1881	0.00		0.00		0.00		4,~~669~~873,~~771~~272.1881		1312,~~093~~809,~~162~~772.9647		0.00
Page 5 of 34
Page 5 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
Collection Account Report
SUMMARY
									Group 2		Group 1		Total
Principal Collections									2321,~~787~~480,~~021~~227.3805		4350,~~621~~435,~~716~~178.5584		6771,~~408~~915,~~737~~405.9389
Principal Withdrawals									0.00		0.00		0.00
Principal Other Accounts									0.00		0.00		0.00
TOTAL NET PRINCIPAL									2321,~~787~~480,~~021~~227.3805		4350,~~621~~435,~~716~~178.5584		6771,~~408~~915,~~737~~405.9389
Interest Collections									2,~~946~~813,~~894~~680.4748		109,~~221~~955,~~756~~327.4397		#######
Interest Withdrawals									-0.00		-0.00		-0.00
Interest Fees									-~~283~~268,~~666~~767.5737		-~~921~~892,~~035~~573.5085		-1,~~204~~161,~~702~~341.0722
Interest Other Accounts													1,~~129~~202,~~214~~105.1324
TOTAL NET INTEREST									2,~~663~~544,~~227~~913.9011		9,~~300~~062,~~720~~754.9312		1312,~~093~~809,~~162~~772.9747
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION													8084,~~501~~725,~~900~~178.9036
PRINCIPAL - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Principal Received										~~463~~450,~~276~~766.8985		1,~~623~~594,~~447~~311.5431		2,~~086~~045,~~724~~078.4316
Curtailments										~~533~~-564,~~856~~147.6583		~~202~~153,~~925~~692.9731		~~736~~-410,~~782~~455.6252
Prepayments In Full										2221,~~672~~306,~~847~~384.5708		4148,~~475~~137,~~715~~628.7864		6469,~~148~~444,~~563~~012.3572
Repurchased/Substitutions										~~117~~287,~~040~~223.2795		~~319~~549,~~627~~546.2658		~~436~~836,~~667~~770.53
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										-~~388~~384,~~496~~477.1360		-1,~~328~~324,~~684~~279.2225		-1,~~717~~708,~~180~~756.3585
Realized Losses										-0.00		-0.00		-0.00
Advanced Principal										~~388~~384,~~496~~477.1360		1,~~328~~324,~~684~~279.2225		1,~~717~~708,~~180~~756.3585
TOTAL PRINCIPAL COLLECTED										2321,~~787~~480,~~021~~227.3805		4350,~~621~~435,~~716~~178.5584		6771,~~408~~915,~~737~~405.9389
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 6 of 34
Page 6 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
INTEREST - COLLECTIONS
									Group 2		Group 1		Total
Scheduled Interest									32,~~129~~988,~~385~~838.5986		10,~~824~~545,~~080~~890.3081		13,~~953~~534,~~465~~729.8967
Repurchased/Substitution Interest									~~876~~2,190.8308		13,~~887~~831.2216		26,~~764~~021.0524
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									-2024,~~054~~727.7959		-4156,~~374~~215.9762		-6180,~~429~~943.7721
Delinquent Interest									-2,~~579~~493,~~607~~533.0219		-8,~~939~~793,~~223~~483.7401		-11,~~518~~287,~~830~~016.7621
Compensating Interest									2024,~~054~~727.7959		4156,~~374~~215.9762		6180,~~429~~943.7721
Civil Relief Act Shortfalls									-0.00		-0.00		-0.00
Interest Advanced									2,~~396~~316,~~239~~184.0774		8,~~335~~199,~~012~~089.6601		10,~~731~~515,~~251~~273.7375
TOTAL INTEREST COLLECTED									2,~~946~~813,~~894~~680.4748		109,~~221~~955,~~756~~327.4397		1312,~~168~~769,~~650~~008.9145
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
									Group 2		Group 1		Total
Prepayment Charges													1,~~129~~202,~~212~~103.8175
Net WAC Investment Income													1.3249
TOTAL INTEREST OTHER ACCOUNTS													1,~~129~~202,~~214~~105.1324
INTEREST - FEES
									Group 2		Group 1		Total
Current Servicing Fees									4036,~~090~~198.0932		~~131~~123,~~755~~396.0644		~~171~~159,~~845~~594.1576
Trustee Fees									~~402~~384.2238		1,~~324~~292.7402		1,~~726~~676.9640
TOTAL INTEREST FEES									~~283~~268,~~666~~767.5737		~~921~~892,~~035~~573.5085		1,~~204~~161,~~702~~341.0722
Page 7 of 34
Page 7 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
Credit Enhancement Report
ACCOUNTS
SPACE INTENTIONALLY LEFT BLANK
INSURANCE
									Group 2		Group 1		Total
PMI									~~243~~232,~~174~~184.2667		~~711~~694,~~979~~090.8765		~~955~~926,~~154~~275.1332
Certificate Insurance Policy Payment ( Class A-1)											7573,~~975~~794.8374		7573,~~975~~794.8374
STRUCTURAL FEATURES
									Group 2		Group 1		Total
Overcollateralized Amount													23,999,975.48
Overcollateralization Reduction Amount													0.00
Overcollateralization Deficiency Amount													0.00
Overcollateralization Target Amount													23,999,975.48
Class A Certificate Defiency Amount													0.00
Page 8 of 34
Page 8 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
Collateral Report
COLLATERAL
										Group 2		Group 1		Total
Loan Count:
Original									2,298		12,946		15,244
Prior									2,~~203~~129		12,~~559~~314		14,~~762~~443
Prefunding									0		0		0
Scheduled Paid Offs									-0		-0		-0
Full Voluntary Prepayments									-7481		-~~243~~282		-~~317~~363
Repurchases									-1		-23		-34
Liquidations									-0		-0		-0
Current									2,~~128~~047		12,~~314~~029		14,~~442~~076
Principal Balance:
Original									565,050,513.03		1,834,947,035.26		2,399,997,548.29
Prior									~~536~~512,~~299~~512,~~284~~263.9759		1,~~766~~722,~~318~~697,~~762~~046.8934		2,~~302~~235,~~618~~209,~~047~~309.8693
Prefunding									0.00		0.00		0.00
Scheduled Principal									-~~463~~450,~~276~~766.8985		-1,~~623~~594,~~447~~311.5431		-2,~~086~~045,~~724~~078.4316
Partial Prepayments									~~-533~~(564,~~856~~147.6583)		-~~202~~153,~~925~~692.9731		~~-736~~(410,~~782~~455.6252)
Full Voluntary Prepayments									-2221,~~672~~306,~~847~~384.5708		-4148,~~475~~137,~~715~~628.7864		-6469,~~148~~444,~~563~~012.3572
Repurchases									-~~117~~287,~~040~~223.2795		-~~319~~549,~~627~~546.2658		-~~436~~836,~~667~~770.53
Liquidations									-0.00		-0.00		-0.00
Current									~~512~~491,~~512~~032,~~263~~036.5954		1,~~722~~672,~~697~~261,~~046~~867.3450		2,~~235~~163,~~209~~293,~~309~~904.9304
PREFUNDING
SPACE INTENTIONALLY LEFT BLANK
Page 9 of 34
Page 9 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Coupon Original									7.03206%		7.37214%		7.29207%
Weighted Average Coupon Prior									7.~~01984~~00414%		7.~~36074~~35494%		7.~~28074~~27323%
Weighted Average Coupon Current									76.~~00414~~99697%		7.~~35494~~34971%		7.~~27323~~26883%
Weighted Average Months to Maturity Original									355		347		349
Weighted Average Months to Maturity Prior									~~352~~351		~~345~~343		~~346~~345
Weighted Average Months to Maturity Current									~~351~~350		~~343~~342		~~345~~344
Weighted Avg Remaining Amortization Term Original									355		347		349
Weighted Avg Remaining Amortization Term Prior									~~352~~351		~~345~~343		~~346~~345
Weighted Avg Remaining Amortization Term Current									~~351~~350		~~343~~342		~~345~~344
Weighted Average Seasoning Original									2.08		2.13		2.12
Weighted Average Seasoning Prior									45.0708		45.12		45.11
Weighted Average Seasoning Current									56.0807		56.12		56.11
Page 10 of 34
Page 10 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
ARM CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Margin Original									5.88406%		6.00664%		5.97403%
Weighted Average Margin Prior									5.~~88765~~88436%		6.~~00667~~00451%		5.~~97505~~97278%
Weighted Average Margin Current									5.~~88436~~88064%		6.~~00451~~00113%		5.~~97278~~96981%
Weighted Average Max Rate Original									13.10038%		13.38875%		13.31203%
Weighted Average Max Rate Prior									13.~~08734~~07303%		13.~~37514~~36814%		13.~~29866~~29019%
Weighted Average Max Rate Current									13.~~07303~~06641%		13.~~36814~~36268%		13.~~29019~~28568%
Weighted Average Min Rate Original									7.10038%		7.38875%		7.31203%
Weighted Average Min Rate Prior									7.~~08734~~07303%		7.~~37514~~36814%		7.~~29866~~29019%
Weighted Average Min Rate Current									7.~~07303~~06641%		7.~~36814~~36268%		7.~~29019~~28568%
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									4036,~~090~~198.0932		~~131~~123,~~755~~396.0644		~~171~~159,~~845~~594.1576
Delinquent Servicing Fees									~~183~~177,~~367~~348.9546		~~604~~594,~~211~~394.0900		~~787~~771,~~579~~742.0346
TOTAL SERVICING FEES									~~223~~213,~~458~~787.0424		~~735~~717,~~966~~790.1846		~~959~~931,~~424~~577.2170
Total Servicing Fees									~~223~~213,~~458~~787.0424		~~735~~717,~~966~~790.1846		~~959~~931,~~424~~577.2170
Compensating Interest									-2024,~~054~~727.7959		-4156,~~374~~215.9762		-6180,~~429~~943.7721
Delinquent Servicing Fees									-~~183~~177,~~367~~348.9546		-~~604~~594,~~211~~394.0900		-~~787~~771,~~579~~742.0346
COLLECTED SERVICING FEES									4036,~~090~~198.0932		~~131~~123,~~755~~396.0644		~~110~~78,~~415~~892.4203
Total Advanced Interest									2,~~396~~316,~~239~~184.0774		8,~~335~~199,~~012~~089.6601		10,~~731~~515,~~251~~273.7375
Total Advanced Principal									~~388~~384,~~496~~477.1360		1,~~328~~324,~~684~~279.2225		1,~~717~~708,~~180~~756.3585
Aggregate Advances with respect to this Distribution									2,~~784~~700,~~735~~662.2034		9,~~663~~523,~~696~~368.8826		12,~~448~~224,~~432~~030.0860
ADDITIONAL COLLATERAL INFORMATION
									Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)									2024,~~054~~727.7959		4156,~~374~~215.9762		6180,~~429~~943.7721
Compensating Interest									-2024,~~054~~727.7959		-4156,~~374~~215.9762		-6180,~~429~~943.7721
Net Prepayment Interest Shortfall (PPIS)									0.00		0.00		0.00
Ending Pool Stated Principal Balance									~~512~~491,~~512~~032,~~263~~036.5954		1,~~722~~672,~~697~~261,~~046~~867.3450		2,~~235~~163,~~209~~293,~~309~~904.9304
Weighted Average Net Mortgage Rate									5.~~959123~~958678%		6.~~370332~~364357%		6.~~274558~~271339%
Page 11 of 34
Page 11 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
Delinquency Report
	TOTAL
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			3133,~~571~~229,~~482~~106.0897		1716,~~602~~937,~~392~~755.1279		410,~~455~~042,~~621~~291.8012		5360,~~629~~209,~~496~~153.0088
			% Balance			1.4154%		0.7978%		0.2046%		2.4078%
			# Loans			237		~~123~~131		3183		~~391~~451
			% # Loans			1.6468%		0.8593%		0.2159%		23.7120%
	FORECLOSURE		Balance		0.00	0111,520.0076		~~461,356~~0.2200		411,~~117~~900,~~519~~069.1397		412,~~578~~011,~~875~~590.3573
			% Balance		0.00%	0.0001%		0.0200%		0.1855%		0.2056%
			# Loans		0	01		30		2678		2979
			% # Loans		0.00%	0.0001%		0.0200%		0.1855%		0.2056%
	BANKRUPTCY		Balance		34,~~624~~161,~~420~~832.2857	~~485~~528,~~909~~000.4313		~~299~~704,~~982~~946.9120		~~592~~1,~~523~~572,200.4306		56,~~002~~966,~~836~~978.0596
			% Balance		0.1619%	0.02%		0.0103%		0.0307%		0.2232%
			# Loans		2528	3		25		511		3547
			% # Loans		0.1720%	0.02%		0.0104%		0.0308%		0.2433%
	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		34,~~624~~161,~~420~~832.2857	3233,~~057~~868,~~391~~627.5186		1817,~~363~~642,~~731~~701.2599		923,~~165~~514,~~664~~561.3615		6379,~~211~~187,~~207~~723.4057
			% Balance		0.1619%	1.4357%		0.82%		01.4109%		23.8366%
			# Loans		2528	~~240~~241		~~128~~136		62172		~~455~~577
			% # Loans		0.1720%	1.6671%		0.8997%		01.4322%		34.1510%
Page 12 of 34
Page 12 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
	GROUP 1
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			2425,~~701~~879,~~638~~931.3575		13,~~669~~148,~~618~~244.5954		28,~~867~~276,~~346~~140.5273		4147,~~238~~304,~~603~~317.4602
			% Balance			1.4355%		0.79%		0.1749%		2.3983%
			# Loans			204		~~103~~112		2369		~~330~~385
			% # Loans			1.6670%		0.8493%		0.1957%		23.6820%
	FORECLOSURE		Balance		0.00	0111,520.0076		~~461,356~~0.2200		28,~~738~~984,~~329~~704.1939		39,~~199~~096,~~685~~225.4115
			% Balance		0.00%	0.0001%		0.0300%		0.1654%		0.1954%
			# Loans		0	01		30		2267		2568
			% # Loans		0.00%	0.0001%		0.0200%		0.1856%		0.2057%
	BANKRUPTCY		Balance		3,~~151~~689,~~982~~701.0171	~~485~~528,~~909~~000.4313		~~299~~535,~~982~~715.9114		~~592~~1,~~523~~572,200.4306		46,~~530~~325,~~397~~617.7804
			% Balance		0.1822%	0.03%		0.0203%		0.0309%		0.2638%
			# Loans		2225	3		24		511		3243
			% # Loans		0.1821%	0.02%		0.0203%		0.0409%		0.2636%
	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		3,~~151~~689,~~982~~701.0171	2526,~~187~~519,~~547~~452.7864		1413,~~430~~683,~~957~~959.7268		618,~~198~~833,~~199~~045.1418		4862,~~968~~726,~~686~~159.6521
			% Balance		0.1822%	1.4659%		0.8482%		01.3613%		23.8475%
			# Loans		2225	~~207~~208		~~108~~116		50147		~~387~~496
			% # Loans		0.1821%	1.6873%		0.8896%		01.4122%		34.1412%
Page 13 of 34
Page 13 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
	GROUP 2
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			67,~~869~~349,~~843~~175.7322		3,~~932~~789,~~773~~511.5325		1,~~588~~766,~~275~~150.2839		12,~~390~~904,~~892~~836.5486
			% Balance			1.3450%		0.77%		0.3136%		2.4263%
			# Loans			33		2019		814		6166
			% # Loans			1.5561%		0.9493%		0.3868%		23.8723%
	FORECLOSURE		Balance		0.00	0.00		0.00		12,~~379~~915,~~189~~365.9458		12,~~379~~915,~~189~~365.9458
			% Balance		0.00%	0.00%		0.00%		0.2759%		0.2759%
			# Loans		0	0		0		411		411
			% # Loans		0.00%	0.00%		0.00%		0.1954%		0.1954%
	BANKRUPTCY		Balance		472,~~438~~130.2786	0.00		0169,231.0006		0.00		~~472~~641,~~438~~361.2792
			% Balance		0.0910%	0.00%		0.0003%		0.00%		0.0913%
			# Loans		3	0		01		0		34
			% # Loans		0.1415%	0.00%		0.0005%		0.00%		0.1420%
	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		472,~~438~~130.2786	67,~~869~~349,~~843~~175.7322		3,~~932~~958,~~773~~742.5331		24,~~967~~681,~~465~~515.2297		1416,~~242~~461,~~520~~564.7536
			% Balance		0.0910%	1.3450%		0.7781%		0.5895%		23.7836%
			# Loans		3	33		20		1225		6881
			% # Loans		0.1415%	1.5561%		0.9498%		01.5622%		3.2096%
Page 14 of 34
Page 14 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
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
TOTAL
Page 15 of 34
Page 15 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
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
72436884 1
61959128 1
			117,000.00		116,520.07	01-Jun-2004		7.990%		OH - 84.78%		360		01-Jun-2004
			75,500.00		75,079.37	01-Jul-2004		9.990%		KY - 83.89%		360		01-Jan-2004
72538283 1			238,000.00		237,246.10	01-Jun-2004		8.350%		AL - 89.81%		360		01-Jul-2004
63449888 1			92,000.00		91,660.60	01-Jul-2004		11.500%		NC - 80.00%		360		01-Feb-2004
75753483 1			60,000.00		59,673.26	01-May-2004		6.550%		OH - 75.00%		360		01-Jun-2004
66206640 1			74,750.00		74,329.14	01-Jun-2004		9.500%		FL - 65.00%		360		01-Feb-2004
76237007 1			73,000.00		72,797.19	01-Jun-2004		8.990%		HI - 58.40%		360		01-Jul-2004
72436884 1			117,000.00		116,438.21	01-Jun-2004		7.990%		OH - 84.78%		360		01-Jun-2004
76583269 1			300,000.00		298,977.92	01-Jun-2004		7.990%		IN - 59.41%		360		01-Jul-2004
75737429 1			68,000.00		67,690.07	01-Jul-2004		8.250%		OH - 80.00%		360		01-Jun-2004
77152320 1			111,750.00		111,559.87	01-Jul-2004		11.300%		AZ - 75.00%		360		01-Jul-2004
75746388 1			219,600.00		218,739.38	01-Jul-2004		8.990%		OK - 90.00%		360		01-Jun-2004
77249803 1			78,500.00		78,339.54	01-Jun-2004		10.450%		MI - 74.76%		360		01-Jul-2004
75753483 1			60,000.00		59,617.76	01-May-2004		6.550%		OH - 75.00%		360		01-Jun-2004
77471605 1			276,000.00		275,019.69	01-Jul-2004		8.700%		NY - 74.59%		360		01-Jun-2004
76047620 1			99,000.00		98,668.68	01-Jul-2004		8.990%		KS - 60.00%		360		01-Jul-2004
77923720 1			179,100.00		178,566.37	01-Jun-2004		8.650%		GA - 90.00%		360		01-Jul-2004
76237007 1			73,000.00		72,755.71	01-Jun-2004		8.990%		HI - 58.40%		360		01-Jul-2004
77931624 1			123,000.00		122,692.62	01-Jun-2004		9.500%		CO - 75.00%		360		#######
76284462 1			94,500.00		94,150.33	01-Jun-2004		8.500%		CA - 90.00%		360		#######
78042884 1			70,000.00		69,809.89	01-Jun-2004		9.100%		CA - 69.31%		360		01-Jul-2004
76349984 1			61,000.00		60,840.02	01-Jun-2004		10.900%		OH - 64.89%		360		01-Jun-2004
78095387 1			132,000.00		131,782.59	01-Jun-2004		11.450%		GA - 80.00%		360		01-Jul-2004
76583269 1			300,000.00		298,769.40	01-Jun-2004		7.990%		IN - 59.41%		360		01-Jul-2004
78360740 1			96,300.00		95,908.43	01-Jun-2004		7.100%		MO - 90.00%		360		01-Jul-2004
76929165 1			60,000.00		59,819.33	01-Jul-2004		9.500%		DE - 75.00%		360		01-Jul-2004
78621224 1			74,970.00		74,776.66	01-Jul-2004		9.350%		GA - 85.00%		360		01-Jul-2004
77152320 1			111,750.00		111,520.76	01-Sep-2004		11.300%		AZ - 75.00%		360		01-Jul-2004
78640661 1			78,800.00		78,493.27	01-Jun-2004		8.250%		GA - 84.91%		360		01-Jun-2004
77249803 1			78,500.00		78,306.61	01-Jun-2004		10.450%		MI - 74.76%		360		01-Jul-2004
78646783 1			103,500.00		103,168.78	01-Jun-2004		8.300%		GA - 90.00%		360		01-Jul-2004
77250322 1			72,000.00		71,596.43	01-Jul-2004		6.400%		IN - 90.00%		360		01-Jul-2004
78662301 1			121,500.00		121,111.18	01-Jun-2004		8.300%		GA - 90.00%		360		01-Jul-2004
77256204 1			75,600.00		75,383.96	01-Jul-2004		9.750%		MI - 90.00%		360		01-Jul-2004
78777422 1			215,000.00		214,325.83	01-Jun-2004		8.400%		MN - 89.58%		360		01-Jul-2004
77310829 1			107,550.00		107,118.46	01-Jul-2004		8.100%		CA - 89.63%		360		01-Jul-2004
79672242 1			133,600.00		133,233.39	01-Jun-2004		9.050%		GA - 80.00%		360		01-Jul-2004
77396745 1			83,000.00		82,786.62	01-Jun-2004		10.250%		WI - 89.25%		360		01-Jul-2004
79681102 1			60,000.00		59,795.54	01-Jun-2004		7.990%		FL - 56.03%		360		01-Jul-2004
77438380 1			125,250.00		124,643.01	01-Jul-2004		7.150%		LA - 75.00%		360		01-Jul-2004
80129422 1			86,400.00		86,184.10	01-Jun-2004		9.500%		FL - 80.00%		360		01-Jul-2004
77471605 1			276,000.00		274,852.13	01-Jul-2004		8.700%		NY - 74.59%		360		01-Jun-2004
80130685 1			62,475.00		62,334.14	01-Jun-2004		9.990%		IN - 85.58%		360		01-Jul-2004
77529964 1			324,000.00		322,218.56	01-Jul-2004		6.500%		WA - 90.00%		360		01-Jul-2004
80784143 1			210,000.00		209,475.26	01-Jun-2004		9.500%		LA - 70.00%		360		01-Jul-2004
77537009 1			85,000.00		84,685.49	01-Jul-2004		8.500%		MO - 78.70%		360		01-Jul-2004
80933344 1			148,500.00		148,015.08	01-Jun-2004		8.200%		FL - 90.00%		360		01-Jul-2004
77637668 1			114,000.00		113,656.79	01-Jul-2004		9.500%		CA - 59.07%		360		01-Jul-2004
81061624 1			60,000.00		59,878.64	01-Jun-2004		10.500%		FL - 75.00%		360		01-Jul-2004
77923720 1			179,100.00		178,457.33	01-Jun-2004		8.650%		GA - 90.00%		360		01-Jul-2004
78282027 2			66,300.00		66,110.39	01-Jun-2004		8.850%		FL - 85.00%		360		01-Jul-2004
77931624 1			123,000.00		122,629.68	01-Jun-2004		9.500%		CO - 75.00%		360		01-Jul-2004
80020209 2			436,000.00		434,852.25	01-Jun-2004		9.250%		NY - 80.00%		360		01-Jul-2004
78027000 1			232,900.00		231,917.48	01-Jul-2004		7.850%		OR - 85.00%		360		01-Jul-2004
80133424 2			549,000.00		547,474.80	01-Jun-2004		8.990%		NY - 90.00%		360		01-Jul-2004
78042884 1			70,000.00		69,771.00	01-Jun-2004		9.100%		CA - 69.31%		360		01-Jul-2004
80914666 2			332,000.00		330,752.50	01-Jun-2004		7.500%		NY - 74.61%		360		01-Jul-2004
78095387 1			132,000.00		131,737.86	01-Jun-2004		11.450%		GA - 80.00%		360		01-Jul-2004
TOTAL			4,592,695.00		4,578,875.35
78103561 1			130,400.00		130,165.30	01-Jul-2004		11.900%		GA - 80.00%		360		01-Jul-2004
Page 16 of 34
78106143 1			128,800.00		128,568.22	01-Jul-2004		11.900%		GA - 80.00%		360		01-Jul-2004
78179249 1			266,000.00		265,263.70	01-Jun-2004		9.900%		IL - 84.98%		360		01-Jul-2004
78239449 1			165,000.00		164,447.81	01-Jul-2004		8.990%		IL - 77.83%		360		01-Jul-2004
78246808 1			68,900.00		68,657.77	01-Jun-2004		8.750%		MI - 65.00%		360		01-Jul-2004
78351962 1			168,300.00		167,538.76	01-Jun-2004		7.500%		MO - 90.00%		360		01-Jul-2004
78360740 1			96,300.00		95,828.72	01-Jun-2004		7.100%		MO - 90.00%		360		01-Jul-2004
78390366 1			202,500.00		201,610.94	01-Jun-2004		7.650%		RI - 90.00%		360		01-Jul-2004
78528882 1			78,200.00		78,028.43	01-Jun-2004		10.990%		WI - 85.00%		360		01-Jul-2004
78621224 1			74,970.00		74,737.08	01-Jul-2004		9.350%		GA - 85.00%		360		01-Jul-2004
78628062 1			161,500.00		161,061.34	01-Jun-2004		9.990%		WI - 85.00%		360		01-Jul-2004
78640661 1			78,800.00		78,440.91	01-Jun-2004		8.250%		GA - 84.91%		360		01-Jun-2004
78646783 1			103,500.00		103,101.15	01-Jun-2004		8.300%		GA - 90.00%		360		01-Jul-2004
78662301 1			121,500.00		121,031.80	01-Jun-2004		8.300%		GA - 90.00%		360		01-Jul-2004
78771565 1			105,000.00		104,648.62	01-Jul-2004		8.990%		FL - 75.00%		360		01-Jul-2004
78777422 1			215,000.00		214,188.15	01-Jun-2004		8.400%		MN - 89.58%		360		01-Jul-2004
78786241 1			60,350.00		60,133.45	01-Jul-2004		8.650%		IL - 85.00%		360		01-Jul-2004
78909801 1			140,500.00		140,115.17	01-Jul-2004		9.950%		GA - 84.64%		360		01-Jul-2004
79216800 1			240,000.00		239,015.53	01-Jul-2004		7.990%		CA - 60.00%		360		01-Jul-2004
79296281 1			75,525.00		75,215.20	01-Jun-2004		7.990%		WA - 82.99%		360		01-Jul-2004
79333845 1			107,000.00		106,671.10	01-Jul-2004		9.400%		UT - 83.59%		360		01-Jul-2004
Page 16 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
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
79623245 1
			233,750.00		232,763.88	01-Jul-2004		7.850%		CA - 85.00%		360		01-Jul-2004
79655585 1			172,800.00		172,160.63	01-Jul-2004		8.500%		GA - 90.00%		360		01-Jul-2004
79672242 1			133,600.00		133,158.40	01-Jun-2004		9.050%		GA - 80.00%		360		01-Jul-2004
79681102 1			60,000.00		59,753.83	01-Jun-2004		7.990%		FL - 56.03%		360		01-Jul-2004
79707741 1			324,000.00		322,367.19	01-Jul-2004		6.950%		WA - 90.00%		360		01-Jul-2004
80129422 1			86,400.00		86,139.89	01-Jun-2004		9.500%		FL - 80.00%		360		01-Jul-2004
80130685 1			62,475.00		62,305.26	01-Jun-2004		9.990%		IN - 85.58%		360		01-Jul-2004
80362387 1			139,000.00		138,345.92	01-Jul-2004		7.300%		MI - 84.24%		360		01-Jul-2004
80397706 1			171,000.00		170,541.44	01-Jul-2004		10.050%		GA - 90.00%		360		01-Jul-2004
80471485 1			135,000.00		134,181.93	01-Jul-2004		5.990%		CA - 90.00%		360		01-Jul-2004
80569205 1			76,000.00		75,697.11	01-Jul-2004		8.150%		IN - 95.00%		360		01-Jul-2004
80597289 1			212,500.00		211,612.45	01-Jul-2004		7.900%		CA - 83.33%		360		01-Jul-2004
80694920 1			193,500.00		192,886.37	01-Jul-2004		9.250%		GA - 90.00%		360		01-Jul-2004
80784143 1			210,000.00		209,367.81	01-Jun-2004		9.500%		LA - 70.00%		360		01-Jul-2004
80933344 1			148,500.00		147,916.10	01-Jun-2004		8.200%		FL - 90.00%		360		01-Jul-2004
81039984 1			60,252.00		60,044.45	01-Jul-2004		8.850%		NV - 50.21%		360		01-Jul-2004
81061624 1			60,000.00		59,853.73	01-Jun-2004		10.500%		FL - 75.00%		360		01-Jul-2004
81120123 1			280,500.00		278,819.44	01-Jul-2004		6.050%		MD - 85.00%		360		01-Jul-2004
75762864 2			89,100.00		88,936.05	01-Jul-2004		11.800%		TX - 90.00%		360		01-Jul-2004
77184265 2			121,500.00		121,068.44	01-Jul-2004		8.700%		PA - 90.00%		360		01-Jul-2004
78282027 2			66,300.00		66,071.62	01-Jun-2004		8.850%		FL - 85.00%		360		01-Jul-2004
78949807 2			64,600.00		64,432.73	01-Jul-2004		10.250%		IL - 85.00%		360		01-Jul-2004
79020707 2			450,000.00		448,139.31	01-Jun-2004		7.950%		NY - 76.92%		360		01-Jul-2004
79384640 2			183,000.00		182,322.89	01-Jul-2004		8.500%		IL - 74.69%		360		01-Jul-2004
79628988 2			575,000.00		572,347.25	01-Jul-2004		7.400%		CA - 71.88%		360		01-Jul-2004
79906442 2			60,000.00		59,768.75	01-Jun-2004		8.300%		NC - 62.69%		360		01-Jul-2004
80020209 2			436,000.00		434,617.37	01-Jun-2004		9.250%		NY - 80.00%		360		01-Jul-2004
80133424 2			549,000.00		547,162.87	01-Jun-2004		8.990%		NY - 90.00%		360		01-Jul-2004
80914666 2			332,000.00		330,498.30	01-Jun-2004		7.500%		NY - 74.61%		360		01-Jul-2004
TOTAL			12,057,822.00		12,011,590.73
Page 17 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
December 27, 2004 Distribution
Prepayment Report
VOLUNTARY PREPAYMENTS
										Group 2		Group 1		Total
Current
Number of Paid in Full Loans									7481		~~243~~282		~~317~~363
Number of Repurchased Loans									1		23		34
Total Number of Loans Prepaid in Full									7582		~~245~~285		~~320~~367
Curtailments Amount									~~533~~-564,~~856~~147.6583		~~202~~153,~~925~~692.9731		~~736~~-410,~~782~~455.6252
Paid in Full Balance									2221,~~672~~306,~~847~~384.5708		4148,~~475~~137,~~715~~628.7864		6469,~~148~~444,~~563~~012.3572
Repurchased Loans Balance									~~117~~287,~~040~~223.2795		~~319~~549,~~627~~546.2658		~~436~~836,~~667~~770.53
Total Prepayment Amount									2321,~~323~~029,~~744~~460.4920		4148,~~998~~840,~~269~~867.0153		6569,~~322~~870,~~013~~327.5073
Cumulative
Number of Paid in Full Loans									~~160~~241		~~540~~822		~~700~~1,063
Number of Repurchased Loans									1011		9295		~~102~~106
Total Number of Loans Prepaid in Full									~~170~~252		~~632~~917		~~802~~1,169
Paid in Full Balance									4768,~~050~~356,~~056~~440.0008		91139,~~733~~871,~~899~~528.8650		~~138~~208,~~783~~227,~~955~~968.8658
Repurchased Loans Balance									23,~~940~~227,~~714~~938.6661		13,~~131~~681,~~597~~143.4098		16,~~072~~909,~~312~~082.0659
Curtailments Amount									~~628~~64,~~951~~803.2239		~~797~~951,~~394~~087.8213		1,~~426~~015,~~346~~890.0452
Total Prepayment Amount									5071,~~619~~649,~~721~~182.8808		~~105~~154,~~662~~503,~~892~~759.0861		~~156~~226,~~282~~152,~~613~~941.9669
Page 17 of 34
Page 18 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
VOLUNTARY PREPAYMENTS RATES
										Group 2		Group 1		Total
SMM									4.3511%		2.3884%		23.8413%
3 Months Avg SMM									23.6762%		12.6121%		12.8654%
12 Months Avg SMM									2.3368%		1.4875%		1.6797%
Avg SMM Since Cut-off									2.3368%		1.4875%		1.6797%
CPR									4139.3854%		2529.1021%		2931.2271%
3 Months Avg CPR									2735.7376%		1723.7355%		2026.1756%
12 Months Avg CPR									2427.6086%		1619.3409%		1821.3421%
Avg CPR Since Cut-off									2427.6086%		1619.3409%		1821.3421%
PSA									43,~~075~~259.3300%		2,~~451~~387.7006%		2,~~859~~596.8657%
3 Months Avg PSA Approximation									3,~~402~~525.4824%		2,~~150~~299.8768%		2,~~453~~599.1727%
12 Months Avg PSA Approximation									3,~~437~~417.8065%		2,~~255~~315.2962%		2,~~538~~579.1721%
Avg PSA Since Cut-off Approximation									3,~~437~~417.8066%		2,~~255~~315.3063%		2,~~538~~579.1721%
Page 18 of 34
Page 19 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
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))
	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 19 of 34
Page 20 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
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	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment
Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date
62053723 1			110,000.00		109,564.11		08-Nov-2004		10.700%		IL - 73.33%		Paid Off - 360		01/01/2004
61620902 1			69,000.00		68,446.47		22-Nov-2004		7.250%		FL - 81.18%		Paid Off - 360		2/1/2004
62990643 1			90,750.00		90,375.57		25-Oct-2004		9.990%		AZ - 78.23%		Paid Off - 360		02/01/2004
63593800 1			180,000.00		179,087.18		18-Nov-2004		8.250%		IL - 75.00%		Paid Off - 360		7/1/2004
63032924 1			297,000.00		295,492.21		18-Oct-2004		8.990%		CA - 90.00%		Paid Off - 360		02/01/2004
63698245 1			67,500.00		66,260.90		09-Dec-2004		7.600%		NY - 90.00%		Paid Off - 240		2/1/2004
64480924 1			159,000.00		158,304.24		10-Nov-2004		9.900%		MA - 60.00%		Paid Off - 360		02/01/2004
64054463 1			191,000.00		189,384.51		26-Nov-2004		6.990%		MN - 83.04%		Paid Off - 360		2/1/2004
64919863 1			225,000.00		221,317.16		29-Oct-2004		7.750%		FL - 88.24%		Paid Off - 240		02/01/2004
64062060 1			238,000.00		236,465.61		30-Nov-2004		8.350%		CA - 85.00%		Paid Off - 360		2/1/2004
64998586 1			136,000.00		135,274.82		28-Oct-2004		8.750%		CA - 85.00%		Paid Off - 360		02/01/2004
64181605 1			110,000.00		109,053.75		16-Nov-2004		7.500%		WI - 74.32%		Paid Off - 360		2/1/2004
65360208 1			230,000.00		228,656.66		03-Nov-2004		8.300%		NY - 83.94%		Paid Off - 360		02/01/2004
64505407 2			419,000.00		415,473.89		01-Dec-2004		7.000%		FL - 79.81%		Paid Off - 360		2/1/2004
65545964 1			259,250.00		257,311.04		30-Oct-2004		7.050%		CA - 75.14%		Paid Off - 360		02/01/2004
64852601 2			136,500.00		136,100.13		26-Nov-2004		12.100%		WI - 75.00%		Paid Off - 360		2/1/2004
65590887 1			60,000.00		59,555.61		01-Nov-2004		7.100%		FL - 41.10%		Paid Off - 360		02/01/2004
64881865 2			84,000.00		83,601.82		06-Dec-2004		9.850%		FL - 60.00%		Paid Off - 360		2/1/2004
65701542 1			128,250.00		127,693.60		28-Oct-2004		9.750%		FL - 75.00%		Paid Off - 360		02/01/2004
65072340 1			178,000.00		176,654.41		15-Nov-2004		7.550%		WI - 82.79%		Paid Off - 360		2/1/2004
67102145 2			344,250.00		342,354.60		13-Oct-2004		7.990%		CO - 85.00%		Paid Off - 360		03/01/2004
65117806 1			227,500.00		226,300.41		24-Nov-2004		9.500%		CA - 65.00%		Paid Off - 360		2/1/2004
67547067 2			60,300.00		59,961.92		03-Nov-2004		7.900%		MD - 90.00%		Paid Off - 360		03/01/2004
65350167 1			130,000.00		129,250.29		06-Dec-2004		8.900%		IL - 89.66%		Paid Off - 360		2/1/2004
70777446 1			74,792.00		74,429.37		18-Oct-2004		7.990%		FL - 78.73%		Paid Off - 360		04/01/2004
66962507 1			90,220.00		89,608.09		15-Nov-2004		7.550%		CO - 72.18%		Paid Off - 360		3/1/2004
70844089 1			139,500.00		139,253.29		28-Oct-2004		10.850%		WI - 75.00%		Paid Off - 360		07/01/2004
72114705 1			285,000.00		283,236.08		02-Dec-2004		6.700%		CA - 60.00%		Paid Off - 360		5/1/2004
71160501 1			235,800.00		234,875.91		30-Oct-2004		8.990%		FL - 90.00%		Paid Off - 360		04/01/2004
73811168 1			60,090.00		59,856.08		02-Dec-2004		8.250%		OH - 66.77%		Paid Off - 360		6/1/2004
73248544 1			178,000.00		177,541.25		27-Oct-2004		8.250%		RI - 89.00%		Paid Off - 360		07/01/2004
74394362 1			112,500.00		112,097.79		11-Nov-2004		7.750%		FL - 90.00%		Paid Off - 360		7/1/2004
73991325 1			97,750.00		97,487.80		03-Nov-2004		10.050%		IL - 85.00%		Paid Off - 360		05/01/2004
74555988 1			203,580.00		202,604.06		01-Dec-2004		6.250%		MD - 90.00%		Paid Off - 360		7/1/2004
74553280 1			262,000.00		261,419.87		29-Oct-2004		8.990%		NY - 74.86%		Paid Off - 360		07/01/2004
74573668 1			228,500.00		227,306.90		26-Nov-2004		5.800%		CA - 78.79%		Paid Off - 360		7/1/2004
74705682 1			276,500.00		275,272.62		20-Oct-2004		6.650%		MA - 72.76%		Paid Off - 360		06/01/2004
74818469 1			69,500.00		68,031.00		09-Dec-2004		5.900%		OH - 76.37%		Paid Off - 180		6/1/2004
75660829 1			186,000.00		185,307.99		19-Oct-2004		7.550%		CA - 54.93%		Paid Off - 360		06/01/2004
74908047 1			211,500.00		210,705.30		17-Nov-2004		7.500%		MD - 90.00%		Paid Off - 360		7/1/2004
75661728 1			150,000.00		149,701.32		25-Oct-2004		9.500%		CA - 75.00%		Paid Off - 360		07/01/2004
75115063 1			206,000.00		204,962.36		03-Dec-2004		5.990%		MA - 74.13%		Paid Off - 360		7/1/2004
75663823 2			428,500.00		427,123.86		10-Nov-2004		7.150%		AL - 89.27%		Paid Off - 360		07/01/2004
75132464 1			125,000.00		124,466.75		30-Nov-2004		7.350%		RI - 55.56%		Paid Off - 360		7/1/2004
75874644 1			100,000.00		99,564.64		22-Oct-2004		6.750%		CA - 29.85%		Paid Off - 360		06/01/2004
75302166 1			290,000.00		288,687.58		29-Nov-2004		6.550%		CA - 42.96%		Paid Off - 360		7/1/2004
76127349 1			95,200.00		95,056.23		21-Oct-2004		10.800%		CA - 85.00%		Paid Off - 360		07/01/2004
75878603 1			202,000.00		200,436.34		08-Dec-2004		5.750%		CA - 73.45%		Paid Off - 360		7/1/2004
76131648 1			144,375.00		143,746.42		08-Nov-2004		6.750%		CT - 87.50%		Paid Off - 360		06/01/2004
75940841 1			89,988.00		89,635.63		06-Dec-2004		7.350%		WY - 78.94%		Paid Off - 360		7/1/2004
76198084 1			189,500.00		188,970.55		28-Oct-2004		7.850%		MN - 84.60%		Paid Off - 360		07/01/2004
75998666 1			162,000.00		161,661.72		24-Nov-2004		10.350%		CO - 60.00%		Paid Off - 360		7/1/2004
76288109 1			320,000.00		319,114.85		08-Nov-2004		7.900%		NY - 76.19%		Paid Off - 360		07/01/2004
76100205 1			121,000.00		120,463.40		30-Nov-2004		7.600%		FL - 64.36%		Paid Off - 360		6/1/2004
76367689 1			108,000.00		107,565.84		27-Oct-2004		5.990%		MN - 58.70%		Paid Off - 360		07/01/2004
76216001 1			229,500.00		228,679.56		15-Nov-2004		7.750%		RI - 90.00%		Paid Off - 360		7/1/2004
76405802 1			225,000.00		223,998.79		02-Nov-2004		5.450%		CA - 90.00%		Paid Off - 360		07/01/2004
76248483 1			124,000.00		123,439.12		30-Nov-2004		7.500%		MD - 78.83%		Paid Off - 360		6/1/2004
76420108 1			104,000.00		103,800.64		01-Nov-2004		10.750%		NY - 77.04%		Paid Off - 360		06/01/2004
76338508 1			131,250.00		130,904.46		07-Dec-2004		9.250%		ME - 75.00%		Paid Off - 360		7/1/2004
76637164 1			120,000.00		119,690.74		10-Nov-2004		8.250%		AZ - 82.76%		Paid Off - 360		07/01/2004
76355387 1			205,500.00		204,003.81		30-Nov-2004		5.700%		CO - 79.04%		Paid Off - 360		7/1/2004
76639707 2			428,975.00		427,689.54		08-Nov-2004		7.500%		CA - 87.55%		Paid Off - 360		07/01/2004
76481506 1			183,000.00		182,376.52		15-Nov-2004		7.990%		CA - 71.21%		Paid Off - 360		7/1/2004
76747401 1			116,500.00		116,115.71		09-Nov-2004		8.150%		OH - 93.20%		Paid Off - 360		06/01/2004
76666346 2			360,000.00		358,355.02		12-Nov-2004		6.500%		NY - 83.72%		Paid Off - 360		7/1/2004
76949601 1			200,800.00		198,556.35		09-Nov-2004		5.990%		MA - 80.00%		Paid Off - 240		07/01/2004
76826403 1			86,100.00		85,714.08		24-Nov-2004		6.600%		MD - 74.87%		Paid Off - 360		7/1/2004
77048486 1			200,000.00		199,468.65		29-Oct-2004		8.100%		CA - 80.00%		Paid Off - 360		07/01/2004
76865625 2			121,500.00		120,825.49		10-Dec-2004		6.450%		MN - 86.79%		Paid Off - 360		6/1/2004
77054443 1			178,489.00		177,737.70		22-Oct-2004		7.050%		IL - 89.24%		Paid Off - 360		06/01/2004
77093946 1			126,700.00		126,237.91		06-Dec-2004		7.650%		CA - 70.00%		Paid Off - 360		7/1/2004
77274561 1			90,000.00		89,835.25		04-Nov-2004		9.900%		SC - 90.00%		Paid Off - 360		07/01/2004
77133304 2			112,500.00		112,016.30		26-Nov-2004		7.600%		IL - 90.00%		Paid Off - 360		7/1/2004
Page 20 of 34
Page 21 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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
77390326 1			85,000.00		84,665.39		25-Oct-2004		6.100%		MN - 73.91%		Paid Off - 360		07/01/2004
77194587 1			245,000.00		244,046.21		01-Dec-2004		8.250%		NY - 70.00%		Paid Off - 360		6/1/2004
77391324 2			87,472.00		87,217.59		22-Oct-2004		7.650%		KY - 72.89%		Paid Off - 360		07/01/2004
77223964 2			81,000.00		80,724.02		11-Nov-2004		7.990%		CA - 90.00%		Paid Off - 360		7/1/2004
77394906 2			225,000.00		224,179.73		20-Oct-2004		6.500%		AZ - 88.58%		Paid Off - 360		07/01/2004
77265007 1			260,400.00		258,181.75		02-Dec-2004		6.750%		MO - 80.00%		Paid Off - 360		6/1/2004
77449486 2			289,000.00		288,292.21		26-Oct-2004		8.500%		CT - 85.00%		Paid Off - 360		07/01/2004
77279826 1			117,000.00		116,601.21		09-Dec-2004		7.990%		MD - 90.00%		Paid Off - 360		7/1/2004
77478642 1			205,000.00		204,348.09		10-Nov-2004		7.200%		MD - 89.13%		Paid Off - 360		07/01/2004
77280105 1			305,000.00		304,118.42		01-Dec-2004		8.900%		CA - 73.49%		Paid Off - 360		7/1/2004
77549020 1			183,000.00		182,393.51		14-Oct-2004		6.990%		MD - 62.03%		Paid Off - 360		07/01/2004
77332104 2			319,000.00		317,674.63		03-Dec-2004		6.990%		MD - 83.66%		Paid Off - 360		7/1/2004
77606283 1			150,000.00		149,725.47		05-Nov-2004		9.900%		MD - 75.00%		Paid Off - 360		07/01/2004
77353100 1			223,000.00		221,920.69		19-Nov-2004		6.200%		NY - 78.19%		Paid Off - 360		7/1/2004
77617124 1			296,000.00		295,290.89		29-Oct-2004		8.750%		NY - 74.47%		Paid Off - 360		07/01/2004
77408805 2			160,000.00		159,194.03		01-Dec-2004		5.990%		MD - 80.00%		Paid Off - 360		7/1/2004
77636124 1			195,000.00		194,522.39		26-Oct-2004		8.500%		NY - 70.91%		Paid Off - 360		07/01/2004
77415669 1			165,000.00		164,392.19		30-Nov-2004		7.600%		MA - 63.22%		Paid Off - 360		7/1/2004
77694420 1			94,000.00		93,698.09		12-Oct-2004		7.150%		IL - 54.65%		Paid Off - 360		07/01/2004
77428787 2			184,892.00		180,899.30		22-Nov-2004		5.600%		MD - 84.81%		Paid Off - 180		6/1/2004
77699825 1			145,000.00		144,476.45		30-Oct-2004		6.550%		MA - 50.00%		Paid Off - 360		07/01/2004
77507440 1			144,000.00		143,414.47		26-Nov-2004		7.100%		PA - 90.00%		Paid Off - 360		7/1/2004
77767101 2			354,000.00		352,671.62		28-Oct-2004		6.350%		CA - 71.52%		Paid Off - 360		07/01/2004
77521821 2			452,000.00		449,973.61		11-Nov-2004		6.600%		NY - 56.50%		Paid Off - 360		7/1/2004
77782365 1			94,000.00		93,744.63		20-Oct-2004		7.990%		CA - 89.52%		Paid Off - 360		07/01/2004
77634442 1			225,472.00		224,743.04		24-Nov-2004		8.250%		MA - 82.50%		Paid Off - 360		7/1/2004
77800985 1			131,000.00		130,397.12		15-Oct-2004		6.500%		WA - 72.38%		Paid Off - 360		06/01/2004
77643427 1			145,000.00		144,304.12		17-Nov-2004		7.200%		CA - 73.98%		Paid Off - 360		6/1/2004
77807923 1			265,000.00		264,259.58		28-Oct-2004		7.850%		CA - 84.13%		Paid Off - 360		07/01/2004
77643708 1			189,500.00		188,854.38		18-Nov-2004		7.990%		NY - 63.17%		Paid Off - 360		7/1/2004
77823383 1			97,500.00		97,219.26		03-Nov-2004		7.700%		GA - 77.38%		Paid Off - 360		07/01/2004
77691426 1			90,000.00		89,755.56		24-Nov-2004		9.990%		IL - 90.00%		Paid Off - 360		6/1/2004
77854305 1			112,500.00		112,182.85		26-Oct-2004		7.990%		MD - 75.00%		Paid Off - 360		07/01/2004
77805828 1			155,000.00		154,291.51		02-Dec-2004		6.500%		WA - 71.53%		Paid Off - 360		7/1/2004
77856706 2			438,000.00		436,713.40		30-Oct-2004		7.600%		NY - 36.50%		Paid Off - 360		07/01/2004
77808764 1			102,000.00		101,641.38		16-Nov-2004		8.750%		MD - 75.00%		Paid Off - 360		6/1/2004
77865129 1			121,410.00		120,008.12		19-Oct-2004		8.990%		NY - 90.00%		Paid Off - 240		07/01/2004
77845204 1			102,000.00		101,497.13		15-Nov-2004		7.300%		CA - 83.61%		Paid Off - 360		7/1/2004
77868321 1			161,000.00		72,129.57		29-Oct-2004		5.950%		MD - 52.70%		Paid Off - 360		07/01/2004
77858504 1			140,250.00		139,604.73		01-Dec-2004		6.500%		IL - 82.50%		Paid Off - 360		7/1/2004
77896322 1			210,250.00		209,760.81		29-Oct-2004		8.750%		WA - 72.50%		Paid Off - 360		07/01/2004
77927887 1			228,800.00		228,020.52		16-Nov-2004		7.990%		KY - 65.00%		Paid Off - 360		7/1/2004
77907624 1			382,500.00		381,610.05		02-Nov-2004		8.750%		NY - 85.00%		Paid Off - 360		07/01/2004
77929826 1			60,000.00		59,807.96		15-Nov-2004		8.300%		PA - 70.59%		Paid Off - 360		7/1/2004
77912905 1			211,500.00		210,859.88		13-Oct-2004		7.450%		MD - 90.00%		Paid Off - 360		07/01/2004
77943041 1			222,000.00		220,881.74		16-Nov-2004		5.990%		UT - 88.10%		Paid Off - 360		7/1/2004
77931384 2			165,600.00		164,757.45		08-Nov-2004		5.990%		CA - 90.00%		Paid Off - 360		06/01/2004
77945947 2			133,000.00		132,505.18		23-Nov-2004		7.550%		CA - 71.89%		Paid Off - 360		7/1/2004
77939700 1			135,000.00		134,662.52		22-Oct-2004		8.400%		IL - 90.00%		Paid Off - 360		07/01/2004
77981645 1			241,500.00		240,166.10		23-Nov-2004		5.500%		RI - 86.56%		Paid Off - 360		7/1/2004
77962181 1			171,003.00		170,529.15		10-Nov-2004		8.450%		GA - 83.83%		Paid Off - 360		07/01/2004
78007507 1			204,000.00		203,152.15		01-Dec-2004		6.990%		MD - 74.73%		Paid Off - 360		7/1/2004
77982668 1			240,000.00		239,381.50		21-Oct-2004		8.250%		MD - 87.27%		Paid Off - 360		07/01/2004
78029469 1			160,200.00		159,467.97		02-Dec-2004		6.500%		CA - 90.00%		Paid Off - 360		7/1/2004
77982742 1			120,650.00		120,273.80		14-Oct-2004		7.300%		MD - 95.00%		Paid Off - 360		07/01/2004
78031648 1			251,600.00		250,596.83		12-Nov-2004		7.200%		CA - 62.90%		Paid Off - 360		7/1/2004
77991404 1			213,000.00		212,294.09		02-Nov-2004		6.990%		GA - 58.36%		Paid Off - 360		07/01/2004
78037942 2			119,000.00		118,664.79		26-Nov-2004		9.100%		MO - 85.00%		Paid Off - 360		7/1/2004
78000205 1			193,500.00		192,884.66		25-Oct-2004		7.200%		HI - 54.20%		Paid Off - 360		07/01/2004
78040128 1			100,000.00		99,163.13		17-Nov-2004		6.800%		CA - 66.67%		Paid Off - 360		7/1/2004
78016607 1			240,000.00		238,922.04		26-Oct-2004		5.400%		MA - 80.00%		Paid Off - 360		07/01/2004
78072907 1			97,000.00		96,642.67		01-Dec-2004		7.600%		MI - 71.32%		Paid Off - 360		7/1/2004
78017100 1			230,500.00		229,521.24		20-Oct-2004		5.700%		CA - 86.98%		Paid Off - 360		07/01/2004
78090321 1			136,000.00		135,611.05		16-Nov-2004		8.850%		TX - 80.00%		Paid Off - 360		7/1/2004
78025103 1			113,500.00		113,347.78		29-Oct-2004		9.990%		CO - 50.00%		Paid Off - 360		08/01/2004
78115680 1			216,000.00		215,356.44		26-Nov-2004		8.650%		NY - 74.48%		Paid Off - 360		7/1/2004
78040946 1			196,000.00		195,319.25		28-Oct-2004		6.750%		CA - 81.67%		Paid Off - 360		07/01/2004
78134285 1			270,000.00		269,080.13		18-Nov-2004		7.990%		SC - 75.00%		Paid Off - 360		7/1/2004
78056066 1			101,000.00		100,717.80		02-Nov-2004		7.850%		MA - 28.45%		Paid Off - 360		07/01/2004
78136686 1			147,750.00		147,323.08		30-Nov-2004		8.800%		WY - 75.00%		Paid Off - 360		7/1/2004
78056686 1			165,000.00		164,437.99		04-Nov-2004		6.850%		NY - 61.11%		Paid Off - 360		07/01/2004
78140027 1			76,500.00		75,432.35		01-Dec-2004		8.550%		KS - 58.37%		Paid Off - 180		7/1/2004
78082880 1			294,000.00		293,161.88		04-Nov-2004		7.750%		MD - 84.73%		Paid Off - 360		07/01/2004
78148244 1			168,750.00		168,208.80		29-Nov-2004		8.300%		FL - 72.12%		Paid Off - 360		7/1/2004
78129343 1			323,000.00		321,740.62		03-Nov-2004		6.150%		NY - 70.99%		Paid Off - 360		07/01/2004
78149762 1			153,750.00		153,277.62		01-Dec-2004		8.500%		IL - 75.00%		Paid Off - 360		7/1/2004
Page 21 of 34
Page 22 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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
78169125 1			245,000.00		244,106.82		15-Oct-2004		6.500%		CA - 81.67%		Paid Off - 360		07/01/2004
78151065 1			206,000.00		205,010.99		08-Dec-2004		6.250%		MA - 50.99%		Paid Off - 360		7/1/2004
78169786 1			200,000.00		199,369.17		05-Nov-2004		7.450%		CA - 58.82%		Paid Off - 360		07/01/2004
78172707 1			154,500.00		153,700.89		01-Dec-2004		5.850%		MA - 80.26%		Paid Off - 360		7/1/2004
78175742 1			203,000.00		202,215.70		13-Oct-2004		8.650%		WI - 84.34%		Paid Off - 360		07/01/2004
78174943 1			67,000.00		66,818.02		02-Dec-2004		9.100%		FL - 57.26%		Paid Off - 360		7/1/2004
78205648 2			368,100.00		367,023.42		#######		7.700%		IL - 86.61%		Paid Off - 360		07/01/2004
78179009 1			96,000.00		95,265.42		23-Nov-2004		6.750%		WI - 85.71%		Paid Off - 360		7/1/2004
78216603 2			315,000.00		314,267.09		02-Nov-2004		8.750%		NY - 54.31%		Paid Off - 360		07/01/2004
78185501 1			99,000.00		98,573.14		19-Nov-2004		6.800%		FL - 83.90%		Paid Off - 360		7/1/2004
78227949 1			242,000.00		241,267.57		02-Nov-2004		7.450%		MA - 69.14%		Paid Off - 360		07/01/2004
78193760 1			167,500.00		166,769.38		22-Nov-2004		6.750%		CA - 57.17%		Paid Off - 360		7/1/2004
78267408 1			205,000.00		204,271.49		29-Oct-2004		7.550%		NV - 82.00%		Paid Off - 360		07/01/2004
78195120 1			149,000.00		148,611.02		30-Nov-2004		9.300%		IL - 62.08%		Paid Off - 360		7/1/2004
78268562 2			64,400.00		64,205.84		28-Oct-2004		8.750%		AZ - 68.51%		Paid Off - 360		07/01/2004
78199007 2			518,400.00		516,312.72		18-Nov-2004		7.150%		CA - 90.00%		Paid Off - 360		7/1/2004
78291549 1			150,000.00		149,572.41		10-Nov-2004		7.750%		ME - 75.00%		Paid Off - 360		07/01/2004
78200060 1			100,000.00		98,435.90		16-Nov-2004		6.990%		WI - 54.64%		Paid Off - 240		7/1/2004
78308269 1			215,000.00		214,323.02		05-Nov-2004		7.250%		NY - 49.43%		Paid Off - 360		07/01/2004
78208345 1			180,000.00		179,289.37		29-Nov-2004		7.250%		MD - 90.00%		Paid Off - 360		7/1/2004
78325743 2			237,017.00		236,184.59		27-Oct-2004		6.700%		CA - 90.00%		Paid Off - 360		07/01/2004
78245248 1			187,200.00		186,360.98		10-Dec-2004		6.600%		MN - 90.00%		Paid Off - 360		7/1/2004
78340064 1			60,000.00		59,473.82		05-Nov-2004		9.400%		WI - 63.16%		Paid Off - 360		07/01/2004
78245800 1			285,000.00		284,176.56		15-Nov-2004		8.800%		CA - 75.00%		Paid Off - 360		7/1/2004
78375920 1			238,000.00		237,374.40		29-Oct-2004		8.250%		CA - 89.81%		Paid Off - 360		07/01/2004
78249224 2			104,000.00		103,711.07		30-Nov-2004		8.990%		GA - 80.00%		Paid Off - 360		7/1/2004
78383742 1			79,000.00		78,785.38		09-Nov-2004		7.990%		WI - 75.24%		Paid Off - 360		07/01/2004
78261302 1			311,000.00		309,433.43		02-Dec-2004		5.990%		FL - 77.75%		Paid Off - 360		7/1/2004
78391547 1			65,000.00		64,823.41		09-Nov-2004		7.990%		WI - 72.22%		Paid Off - 360		07/01/2004
78261807 2			151,200.00		150,541.69		01-Dec-2004		6.750%		WA - 90.00%		Paid Off - 360		7/1/2004
78397700 1			145,800.00		145,509.69		04-Nov-2004		9.500%		IL - 90.00%		Paid Off - 360		07/01/2004
78274289 2			266,000.00		264,611.07		23-Nov-2004		5.800%		CA - 66.50%		Paid Off - 360		7/1/2004
78400983 2			264,500.00		263,535.75		02-Nov-2004		6.500%		NV - 79.67%		Paid Off - 360		07/01/2004
78283322 1			138,200.00		137,729.17		30-Nov-2004		7.990%		MD - 76.78%		Paid Off - 360		7/1/2004
78403920 1			288,800.00		287,639.12		09-Nov-2004		5.990%		ME - 69.59%		Paid Off - 360		07/01/2004
78284460 1			114,750.00		114,431.21		07-Dec-2004		8.990%		MI - 85.00%		Paid Off - 360		7/1/2004
78412905 2			599,999.00		597,733.55		15-Oct-2004		6.500%		CA - 75.95%		Paid Off - 360		07/01/2004
78287125 1			98,600.00		98,084.12		18-Nov-2004		8.990%		MD - 85.00%		Paid Off - 360		7/1/2004
78412988 2			187,000.00		186,560.41		18-Oct-2004		8.700%		NY - 70.83%		Paid Off - 360		07/01/2004
78287166 1			194,000.00		192,481.59		10-Dec-2004		7.990%		MD - 88.58%		Paid Off - 360		7/1/2004
78480100 2			192,000.00		191,121.45		12-Oct-2004		5.300%		MA - 74.13%		Paid Off - 360		07/01/2004
78288602 1			165,000.00		164,503.33		18-Nov-2004		8.600%		IL - 54.28%		Paid Off - 360		7/1/2004
78484805 1			328,500.00		327,381.09		01-Nov-2004		6.850%		NY - 87.60%		Paid Off - 360		07/01/2004
78301587 2			241,200.00		240,495.33		22-Nov-2004		8.750%		MD - 83.75%		Paid Off - 360		7/1/2004
78497286 2			77,650.00		77,540.09		14-Oct-2004		11.100%		PA - 74.66%		Paid Off - 360		07/01/2004
78305620 1			104,800.00		104,321.13		01-Dec-2004		6.500%		WI - 80.00%		Paid Off - 360		7/1/2004
78511185 1			261,000.00		260,093.49		04-Nov-2004		6.750%		CT - 90.00%		Paid Off - 360		07/01/2004
78327509 1			127,500.00		127,036.04		30-Nov-2004		8.900%		IL - 75.00%		Paid Off - 360		7/1/2004
78523024 1			192,000.00		191,286.40		29-Oct-2004		6.400%		CA - 80.00%		Paid Off - 360		07/01/2004
78331600 2			450,000.00		448,423.20		16-Nov-2004		7.850%		MA - 90.00%		Paid Off - 360		7/1/2004
78532629 2			167,000.00		166,304.12		26-Oct-2004		5.800%		IL - 86.53%		Paid Off - 360		07/01/2004
78344462 2			183,000.00		182,239.67		23-Nov-2004		6.990%		CA - 70.38%		Paid Off - 360		7/1/2004
78535226 1			75,000.00		74,829.06		03-Nov-2004		8.850%		MO - 75.00%		Paid Off - 360		07/01/2004
78352762 1			199,800.00		198,197.07		26-Nov-2004		7.250%		RI - 90.00%		Paid Off - 360		7/1/2004
78538907 1			191,000.00		190,310.39		30-Oct-2004		6.550%		CA - 65.86%		Paid Off - 360		07/01/2004
78364023 1			275,000.00		273,814.29		26-Nov-2004		6.800%		CA - 84.62%		Paid Off - 360		7/1/2004
78539426 1			96,000.00		95,269.67		15-Oct-2004		7.150%		FL - 60.00%		Paid Off - 240		07/01/2004
78366929 2			522,000.00		519,130.75		26-Nov-2004		5.700%		CA - 90.00%		Paid Off - 360		7/1/2004
78540242 1			276,250.00		275,499.60		15-Oct-2004		7.990%		CA - 84.48%		Paid Off - 360		07/01/2004
78385382 2			358,000.00		356,512.62		22-Nov-2004		6.990%		IL - 74.58%		Paid Off - 360		7/1/2004
78543527 1			255,000.00		254,189.09		28-Oct-2004		7.200%		CA - 73.28%		Paid Off - 360		07/01/2004
78389624 2			170,000.00		169,498.62		01-Dec-2004		8.700%		CA - 85.00%		Paid Off - 360		7/1/2004
78550902 1			78,000.00		77,827.27		29-Oct-2004		8.990%		FL - 60.00%		Paid Off - 360		07/01/2004
78412509 1			278,100.00		276,944.57		07-Dec-2004		6.990%		FL - 79.46%		Paid Off - 360		7/1/2004
78577004 2			205,000.00		204,373.39		29-Oct-2004		7.400%		CA - 82.00%		Paid Off - 360		07/01/2004
78415049 2			341,800.00		340,129.85		15-Nov-2004		6.150%		CA - 74.96%		Paid Off - 360		7/1/2004
78582269 1			249,300.00		248,297.43		29-Oct-2004		5.990%		CA - 90.65%		Paid Off - 360		07/01/2004
78427721 1			167,000.00		166,306.08		07-Dec-2004		6.990%		CA - 71.98%		Paid Off - 360		7/1/2004
78582764 1			111,500.00		111,051.79		15-Oct-2004		5.990%		CA - 76.90%		Paid Off - 360		07/01/2004
78437142 1			225,250.00		224,325.06		01-Dec-2004		7.050%		CA - 85.00%		Paid Off - 360		7/1/2004
78588324 2			812,500.00		809,022.01		28-Oct-2004		5.700%		MD - 65.00%		Paid Off - 360		07/01/2004
78438165 1			144,000.00		143,348.33		29-Nov-2004		6.550%		MD - 85.71%		Paid Off - 360		7/1/2004
78612900 1			144,000.00		143,681.12		26-Oct-2004		8.990%		RI - 60.00%		Paid Off - 360		07/01/2004
78440021 1			168,000.00		167,427.63		16-Nov-2004		7.990%		MA - 80.00%		Paid Off - 360		7/1/2004
78622545 1			255,000.00		254,154.92		22-Oct-2004		6.990%		CA - 75.00%		Paid Off - 360		07/01/2004
78441623 1			83,200.00		83,064.44		23-Nov-2004		11.500%		NC - 65.00%		Paid Off - 360		7/1/2004
Page 22 of 34
Page 23 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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
78642469 1			206,000.00		205,589.09		30-Oct-2004		9.550%		NY - 77.74%		Paid Off - 360		07/01/2004
78463387 1			172,800.00		172,182.22		17-Nov-2004		7.750%		MD - 59.59%		Paid Off - 360		7/1/2004
78661964 1			238,000.00		236,714.16		26-Oct-2004		9.900%		NY - 83.51%		Paid Off - 240		07/01/2004
78480407 1			291,200.00		289,733.19		02-Dec-2004		5.990%		FL - 84.41%		Paid Off - 360		7/1/2004
78689569 1			126,000.00		125,685.03		02-Nov-2004		8.400%		IL - 89.36%		Paid Off - 360		07/01/2004
78492006 1			178,000.00		177,276.22		23-Nov-2004		7.100%		IL - 74.17%		Paid Off - 360		7/1/2004
78704707 2			244,700.00		243,736.78		01-Nov-2004		6.100%		IL - 73.37%		Paid Off - 360		07/01/2004
78493061 1			200,000.00		199,094.92		01-Dec-2004		6.550%		CA - 80.00%		Paid Off - 360		7/1/2004
78734704 1			75,000.00		74,853.78		02-Nov-2004		9.600%		IL - 75.00%		Paid Off - 360		07/01/2004
78494507 1			258,000.00		257,161.84		17-Nov-2004		8.250%		MD - 81.90%		Paid Off - 360		7/1/2004
78787801 1			61,500.00		61,368.26		10-Nov-2004		9.150%		MA - 16.33%		Paid Off - 360		07/01/2004
78509445 1			280,000.00		278,364.96		17-Nov-2004		5.200%		CA - 74.67%		Paid Off - 360		7/1/2004
78790201 2			296,250.00		295,660.13		19-Oct-2004		9.500%		CA - 75.00%		Paid Off - 360		07/01/2004
78509627 2			152,000.00		151,533.02		01-Dec-2004		8.500%		FL - 84.44%		Paid Off - 360		7/1/2004
78797966 1			195,300.00		193,832.08		05-Nov-2004		7.250%		CA - 39.86%		Paid Off - 240		07/01/2004
78512902 1			314,500.00		313,208.61		22-Nov-2004		7.050%		MA - 83.87%		Paid Off - 360		7/1/2004
78800489 2			345,000.00		343,934.93		05-Nov-2004		7.350%		NV - 89.84%		Paid Off - 360		07/01/2004
78529146 1			157,500.00		157,011.12		30-Nov-2004		8.450%		MN - 73.94%		Paid Off - 360		7/1/2004
78801982 1			200,000.00		199,406.60		29-Oct-2004		7.550%		MA - 70.67%		Paid Off - 360		07/01/2004
78548021 1			253,500.00		252,352.77		23-Nov-2004		6.550%		CA - 69.45%		Paid Off - 360		7/1/2004
78829546 1			97,500.00		97,324.90		02-Nov-2004		9.990%		TN - 75.00%		Paid Off - 360		07/01/2004
78548260 1			99,900.00		99,493.80		07-Dec-2004		7.100%		NV - 62.44%		Paid Off - 360		7/1/2004
78829744 1			273,750.00		272,842.76		21-Oct-2004		6.990%		CA - 75.00%		Paid Off - 360		07/01/2004
78551686 1			176,000.00		175,113.46		08-Dec-2004		5.990%		RI - 67.69%		Paid Off - 360		7/1/2004
78843125 1			65,000.00		64,767.56		26-Oct-2004		6.600%		CO - 77.84%		Paid Off - 360		07/01/2004
78551843 1			171,000.00		170,642.97		19-Nov-2004		10.350%		IL - 89.53%		Paid Off - 360		7/1/2004
78891702 1			172,000.00		171,458.38		09-Nov-2004		7.250%		RI - 68.80%		Paid Off - 360		07/01/2004
78602943 1			93,750.00		93,430.57		12-Nov-2004		7.990%		FL - 75.00%		Paid Off - 360		7/1/2004
78897428 1			94,900.00		94,689.85		20-Oct-2004		8.990%		FL - 47.45%		Paid Off - 360		07/01/2004
78619004 2			415,000.00		412,771.25		30-Nov-2004		5.650%		CA - 79.81%		Paid Off - 360		7/1/2004
78901147 2			346,000.00		344,750.74		20-Oct-2004		6.550%		CA - 89.18%		Paid Off - 360		07/01/2004
78622602 1			96,950.00		96,427.81		02-Dec-2004		5.900%		FL - 78.19%		Paid Off - 360		7/1/2004
78916889 1			284,000.00		282,805.37		20-Oct-2004		5.750%		CA - 86.06%		Paid Off - 360		07/01/2004
78649365 1			161,000.00		160,435.87		03-Dec-2004		7.850%		CA - 50.00%		Paid Off - 360		7/1/2004
78935087 1			330,000.00		328,611.86		01-Nov-2004		5.750%		CA - 50.77%		Paid Off - 360		07/01/2004
78663580 1			306,500.00		304,269.33		09-Dec-2004		7.550%		CA - 72.63%		Paid Off - 360		7/1/2004
78964426 2			242,250.00		241,847.09		10-Nov-2004		10.350%		WI - 85.00%		Paid Off - 360		07/01/2004
78681020 2			180,000.00		179,502.11		18-Nov-2004		7.900%		IL - 90.00%		Paid Off - 360		8/1/2004
78997020 1			101,700.00		101,066.28		21-Oct-2004		6.500%		MN - 69.94%		Paid Off - 360		07/01/2004
78694783 2			214,000.00		213,012.69		30-Nov-2004		6.450%		NY - 62.94%		Paid Off - 360		7/1/2004
79016341 2			307,500.00		306,480.90		02-Nov-2004		6.990%		MA - 71.51%		Paid Off - 360		07/01/2004
78699840 1			210,000.00		209,342.47		17-Nov-2004		8.800%		NY - 60.00%		Paid Off - 360		7/1/2004
79027280 1			127,800.00		127,397.56		03-Nov-2004		7.250%		CA - 90.00%		Paid Off - 360		07/01/2004
78721800 2			459,000.00		456,982.19		18-Nov-2004		6.700%		CA - 90.00%		Paid Off - 360		7/1/2004
79030664 1			208,250.00		207,997.15		26-Oct-2004		11.800%		MO - 85.00%		Paid Off - 360		07/01/2004
78733045 1			68,000.00		67,821.00		22-Nov-2004		9.250%		IL - 59.13%		Paid Off - 360		7/1/2004
79051108 1			119,000.00		118,716.74		13-Oct-2004		8.650%		UT - 85.00%		Paid Off - 360		07/01/2004
78737301 1			64,200.00		63,197.03		19-Nov-2004		7.250%		MO - 80.25%		Paid Off - 180		7/1/2004
79053047 1			97,500.00		97,259.91		27-Oct-2004		8.550%		NV - 75.00%		Paid Off - 360		07/01/2004
78739141 1			154,800.00		154,493.58		01-Dec-2004		10.600%		GA - 90.00%		Paid Off - 360		7/1/2004
79057741 1			162,342.00		161,906.29		04-Nov-2004		8.050%		MD - 81.17%		Paid Off - 360		07/01/2004
78739968 1			60,125.00		59,744.31		07-Dec-2004		8.750%		FL - 64.65%		Paid Off - 360		7/1/2004
79062907 1			143,912.00		143,458.83		14-Oct-2004		7.250%		AZ - 84.65%		Paid Off - 360		07/01/2004
78741725 1			161,250.00		160,673.54		29-Nov-2004		7.750%		CT - 75.00%		Paid Off - 360		7/1/2004
79068680 1			185,000.00		184,428.89		02-Nov-2004		7.350%		MD - 69.81%		Paid Off - 360		07/01/2004
78741782 1			318,580.00		317,640.46		02-Dec-2004		8.700%		MA - 74.09%		Paid Off - 360		7/1/2004
79074126 1			100,000.00		99,672.44		26-Oct-2004		7.050%		CA - 30.53%		Paid Off - 360		07/01/2004
78743903 1			184,500.00		183,806.72		23-Nov-2004		7.500%		ME - 90.00%		Paid Off - 360		7/1/2004
79098141 2			311,500.00		310,247.87		10-Nov-2004		5.990%		CA - 75.42%		Paid Off - 360		07/01/2004
78756442 1			60,000.00		59,804.04		22-Nov-2004		8.200%		MO - 74.07%		Paid Off - 360		7/1/2004
79101028 2			496,000.00		494,586.07		10-Nov-2004		7.750%		WA - 80.00%		Paid Off - 360		07/01/2004
78759982 2			390,000.00		388,577.68		30-Nov-2004		7.650%		MD - 75.00%		Paid Off - 360		7/1/2004
79101309 1			153,000.00		152,508.61		03-Nov-2004		7.150%		CA - 89.63%		Paid Off - 360		07/01/2004
78771029 1			98,321.00		98,050.35		06-Dec-2004		9.100%		FL - 72.83%		Paid Off - 360		7/1/2004
79113106 1			208,000.00		207,298.41		22-Oct-2004		6.900%		FL - 62.09%		Paid Off - 360		07/01/2004
78772787 1			144,500.00		143,793.91		06-Dec-2004		6.150%		MI - 52.55%		Paid Off - 360		7/1/2004
79126983 1			75,600.00		74,725.00		12-Oct-2004		8.100%		MI - 90.00%		Paid Off - 180		07/01/2004
78777125 2			408,600.00		406,622.42		08-Dec-2004		6.200%		CA - 90.00%		Paid Off - 360		7/1/2004
79167409 2			298,500.00		297,358.19		03-Nov-2004		6.250%		FL - 89.10%		Paid Off - 360		07/01/2004
78779428 1			180,000.00		179,535.83		11-Nov-2004		9.350%		NY - 56.25%		Paid Off - 360		7/1/2004
79190484 1			279,000.00		277,992.64		25-Oct-2004		6.550%		CA - 78.59%		Paid Off - 360		07/01/2004
78786266 1			#######		278,780.96		09-Dec-2004		6.750%		IL - 83.58%		Paid Off - 360		7/1/2004
79193983 1			102,000.00		101,605.09		02-Nov-2004		6.200%		MD - 89.22%		Paid Off - 360		07/01/2004
78792280 2			364,000.00		361,196.38		30-Nov-2004		6.550%		CA - 87.71%		Paid Off - 360		7/1/2004
79197661 1			238,000.00		237,098.30		21-Oct-2004		6.300%		CA - 89.81%		Paid Off - 360		07/01/2004
78890761 1			130,400.00		129,914.84		06-Dec-2004		7.550%		FL - 73.67%		Paid Off - 360		7/1/2004
Page 23 of 34
Page 24 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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
79211207 1			331,000.00		329,957.72		02-Nov-2004		7.250%		CA - 89.46%		Paid Off - 360		07/01/2004
78899044 1			225,900.00		224,219.46		26-Nov-2004		6.300%		IL - 90.00%		Paid Off - 360		7/1/2004
79211660 2			540,000.00		537,934.41		03-Nov-2004		6.250%		CA - 77.14%		Paid Off - 360		07/01/2004
78904422 1			192,000.00		190,997.51		07-Dec-2004		5.800%		CA - 64.00%		Paid Off - 360		7/1/2004
79212684 2			95,000.00		94,785.68		20-Oct-2004		8.900%		IL - 62.50%		Paid Off - 360		07/01/2004
78904927 1			120,000.00		119,430.19		17-Nov-2004		6.300%		MN - 50.01%		Paid Off - 360		7/1/2004
79217287 1			268,800.00		268,114.25		25-Oct-2004		8.300%		NV - 84.00%		Paid Off - 360		07/01/2004
78905205 2			213,000.00		212,345.60		12-Nov-2004		8.500%		CA - 67.62%		Paid Off - 360		7/1/2004
79227583 1			64,172.00		63,647.85		18-Oct-2004		5.750%		FL - 74.43%		Paid Off - 360		07/01/2004
78908183 1			216,000.00		215,212.23		12-Nov-2004		7.650%		IL - 83.08%		Paid Off - 360		7/1/2004
79241402 1			90,000.00		89,719.37		02-Nov-2004		7.300%		CA - 52.85%		Paid Off - 360		07/01/2004
78932589 1			142,500.00		141,445.44		16-Nov-2004		7.250%		FL - 75.00%		Paid Off - 360		7/1/2004
79258364 1			107,000.00		106,682.19		26-Oct-2004		7.550%		WI - 84.25%		Paid Off - 360		07/01/2004
78939048 1			225,000.00		224,039.26		02-Dec-2004		6.850%		CA - 89.96%		Paid Off - 360		7/1/2004
79303905 1			164,000.00		163,413.55		01-Nov-2004		6.600%		CA - 68.33%		Paid Off - 360		07/01/2004
78941804 1			292,500.00		290,987.11		24-Nov-2004		5.850%		CA - 90.00%		Paid Off - 360		7/1/2004
79338646 1			141,950.00		141,619.70		03-Nov-2004		8.750%		MD - 85.00%		Paid Off - 360		07/01/2004
78945441 1			313,000.00		311,495.48		12-Nov-2004		6.250%		CA - 81.30%		Paid Off - 360		7/1/2004
79408225 1			61,000.00		60,859.51		21-Oct-2004		8.800%		PA - 45.52%		Paid Off - 360		07/01/2004
78958501 1			250,000.00		249,060.63		30-Nov-2004		7.500%		IL - 83.33%		Paid Off - 360		7/1/2004
79413928 1			185,000.00		184,428.89		15-Oct-2004		7.350%		MA - 60.66%		Paid Off - 360		07/01/2004
78964921 2			400,000.00		398,888.71		18-Nov-2004		8.990%		IL - 80.81%		Paid Off - 360		7/1/2004
79443180 1			285,000.00		283,950.93		04-Nov-2004		6.450%		NY - 83.82%		Paid Off - 360		07/01/2004
78967601 2			184,500.00		183,806.72		24-Nov-2004		7.500%		IL - 90.00%		Paid Off - 360		7/1/2004
79444345 2			373,500.00		372,070.71		25-Oct-2004		6.250%		CA - 90.00%		Paid Off - 360		07/01/2004
78969920 1			102,000.00		101,452.17		09-Dec-2004		5.650%		MA - 49.30%		Paid Off - 360		7/1/2004
79445086 1			92,700.00		92,499.35		12-Oct-2004		9.100%		CA - 61.80%		Paid Off - 360		07/01/2004
78971785 2			160,000.00		159,481.59		02-Dec-2004		8.250%		MD - 78.05%		Paid Off - 360		7/1/2004
79466322 1			233,650.00		232,983.93		30-Oct-2004		7.750%		NY - 84.96%		Paid Off - 360		07/01/2004
79003760 1			154,000.00		153,316.40		19-Nov-2004		6.650%		CA - 80.21%		Paid Off - 360		7/1/2004
79485066 1			140,250.00		139,877.41		22-Oct-2004		8.100%		CA - 87.66%		Paid Off - 360		07/01/2004
79022869 1			60,000.00		59,811.84		30-Nov-2004		8.400%		FL - 51.28%		Paid Off - 360		7/1/2004
79485421 1			101,250.00		100,978.99		10-Nov-2004		8.100%		FL - 75.00%		Paid Off - 360		07/01/2004
79023404 1			146,000.00		144,801.04		17-Nov-2004		5.800%		CA - 34.35%		Paid Off - 360		7/1/2004
79509246 1			138,500.00		138,018.97		20-Oct-2004		6.750%		CA - 55.11%		Paid Off - 360		07/01/2004
79029344 2			222,000.00		220,829.89		29-Nov-2004		5.750%		FL - 80.73%		Paid Off - 360		7/1/2004
79515920 1			293,250.00		292,312.90		30-Oct-2004		7.600%		MA - 85.00%		Paid Off - 360		07/01/2004
79032868 2			323,000.00		321,593.75		16-Nov-2004		6.750%		CA - 81.16%		Paid Off - 360		7/1/2004
79517140 1			270,000.00		269,105.18		21-Oct-2004		6.990%		CA - 80.60%		Paid Off - 360		07/01/2004
79033049 1			240,000.00		239,107.13		30-Nov-2004		7.550%		CA - 88.89%		Paid Off - 360		7/1/2004
79517827 1			136,216.00		135,827.69		18-Oct-2004		7.750%		MA - 59.22%		Paid Off - 360		07/01/2004
79047627 2			180,000.00		179,489.92		01-Dec-2004		8.900%		CA - 60.00%		Paid Off - 360		7/1/2004
79527701 1			78,000.00		77,882.22		15-Oct-2004		10.800%		WI - 73.58%		Paid Off - 360		07/01/2004
79047742 1			251,250.00		250,206.11		26-Nov-2004		6.990%		CA - 75.00%		Paid Off - 360		7/1/2004
79533683 1			257,448.00		256,842.81		26-Oct-2004		8.700%		WI - 88.93%		Paid Off - 360		07/01/2004
79059903 2			570,500.00		567,816.94		29-Nov-2004		6.350%		MN - 77.62%		Paid Off - 360		7/1/2004
79541504 1			106,000.00		105,682.36		08-Nov-2004		7.500%		CA - 78.52%		Paid Off - 360		07/01/2004
79073425 1			280,500.00		279,536.62		08-Dec-2004		7.950%		RI - 85.00%		Paid Off - 360		7/1/2004
79556387 2			227,375.00		226,620.62		28-Oct-2004		6.990%		MD - 85.00%		Paid Off - 360		07/01/2004
79079026 2			442,000.00		439,961.28		01-Dec-2004		6.500%		CA - 79.64%		Paid Off - 360		7/1/2004
79558524 1			198,000.00		197,332.15		29-Oct-2004		6.900%		PA - 51.43%		Paid Off - 360		07/01/2004
79085205 1			272,000.00		271,244.32		29-Nov-2004		8.990%		NY - 78.84%		Paid Off - 360		7/1/2004
79563441 1			182,750.00		182,143.94		13-Oct-2004		6.990%		CA - 82.51%		Paid Off - 360		07/01/2004
79098323 1			221,100.00		218,552.80		23-Nov-2004		5.550%		CA - 83.14%		Paid Off - 240		7/1/2004
79566584 2			103,500.00		103,122.66		10-Nov-2004		6.500%		FL - 83.47%		Paid Off - 360		07/01/2004
79106266 2			140,000.00		139,332.22		30-Nov-2004		7.650%		CA - 70.00%		Paid Off - 360		7/1/2004
79567202 1			156,001.00		155,615.02		02-Nov-2004		8.450%		IL - 75.00%		Paid Off - 360		07/01/2004
79116109 1			108,500.00		108,074.45		17-Nov-2004		7.400%		IL - 82.82%		Paid Off - 360		7/1/2004
79577862 1			155,000.00		154,418.37		10-Nov-2004		6.350%		CA - 81.58%		Paid Off - 360		07/01/2004
79119764 1			187,000.00		186,103.50		26-Nov-2004		6.250%		MN - 85.00%		Paid Off - 360		7/1/2004
79588448 1			161,652.00		161,062.66		15-Oct-2004		6.500%		CA - 76.04%		Paid Off - 360		07/01/2004
79130787 2			155,000.00		154,219.24		07-Dec-2004		5.990%		NY - 58.49%		Paid Off - 360		7/1/2004
79599684 1			111,000.00		110,716.81		05-Nov-2004		8.300%		MN - 74.00%		Paid Off - 360		07/01/2004
79189528 2			225,000.00		224,154.56		16-Nov-2004		7.500%		CA - 60.00%		Paid Off - 360		7/1/2004
79600102 1			222,150.00		221,355.62		04-Nov-2004		6.600%		FL - 63.47%		Paid Off - 360		07/01/2004
79196382 1			270,000.00		269,080.13		06-Dec-2004		7.990%		MA - 61.36%		Paid Off - 360		7/1/2004
79609640 1			260,000.00		259,309.24		02-Nov-2004		8.100%		NY - 65.82%		Paid Off - 360		07/01/2004
79199303 1			235,000.00		234,347.10		15-Nov-2004		8.990%		NY - 72.31%		Paid Off - 360		7/1/2004
79621769 2			160,000.00		159,240.36		19-Oct-2004		7.100%		CA - 39.51%		Paid Off - 360		07/01/2004
79200283 1			135,625.00		135,303.43		29-Nov-2004		9.750%		IL - 87.50%		Paid Off - 360		7/1/2004
79636387 1			131,000.00		130,498.90		21-Oct-2004		6.250%		NV - 81.37%		Paid Off - 360		07/01/2004
79207288 1			68,000.00		67,777.93		08-Dec-2004		8.200%		IL - 75.56%		Paid Off - 360		7/1/2004
79642906 1			158,000.00		157,492.56		18-Oct-2004		7.150%		CA - 69.30%		Paid Off - 360		07/01/2004
79210043 1			60,000.00		59,845.30		16-Nov-2004		9.350%		CO - 24.90%		Paid Off - 360		7/1/2004
79666509 2			350,000.00		349,116.18		25-Oct-2004		8.350%		NY - 74.47%		Paid Off - 360		07/01/2004
79211561 1			113,000.00		112,409.95		22-Nov-2004		5.800%		CA - 75.93%		Paid Off - 360		7/1/2004
Page 24 of 34
Page 25 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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
79669909 1			375,000.00		373,783.78		03-Nov-2004		7.100%		CA - 39.47%		Paid Off - 360		07/01/2004
79224044 1			248,500.00		247,214.68		30-Nov-2004		5.850%		CA - 62.63%		Paid Off - 360		7/1/2004
79677944 1			240,000.00		239,280.82		22-Oct-2004		7.500%		MD - 93.02%		Paid Off - 360		07/01/2004
79232609 1			151,500.00		150,763.59		24-Nov-2004		7.300%		WA - 89.12%		Paid Off - 360		7/1/2004
79691887 1			60,000.00		59,206.26		18-Oct-2004		6.550%		WI - 60.00%		Paid Off - 180		07/01/2004
79233946 2			425,000.00		422,780.94		26-Nov-2004		5.800%		CA - 85.00%		Paid Off - 360		7/1/2004
79694824 1			323,000.00		322,284.80		02-Nov-2004		8.990%		NY - 85.00%		Paid Off - 360		07/01/2004
79236741 2			360,000.00		358,417.37		09-Dec-2004		6.700%		CA - 90.00%		Paid Off - 360		7/1/2004
79711420 2			408,000.00		406,891.70		27-Oct-2004		7.990%		CA - 85.00%		Paid Off - 360		07/01/2004
79258208 1			255,250.00		253,917.27		01-Dec-2004		5.800%		MA - 68.99%		Paid Off - 360		7/1/2004
79741401 1			60,000.00		59,816.59		29-Oct-2004		7.400%		TN - 60.00%		Paid Off - 360		07/01/2004
79276986 2			397,000.00		394,927.17		30-Nov-2004		5.800%		NY - 81.02%		Paid Off - 360		7/1/2004
79773149 2			600,000.00		598,603.98		21-Oct-2004		8.750%		IL - 79.47%		Paid Off - 360		07/01/2004
79277166 2			430,950.00		429,547.35		29-Nov-2004		8.950%		NY - 84.92%		Paid Off - 360		7/1/2004
79773545 1			60,160.00		60,020.87		12-Oct-2004		8.800%		FL - 63.33%		Paid Off - 360		07/01/2004
79280764 1			250,000.00		249,012.98		02-Dec-2004		7.250%		CA - 84.75%		Paid Off - 360		7/1/2004
79775045 1			171,000.00		170,602.15		21-Oct-2004		8.750%		CA - 60.00%		Paid Off - 360		07/01/2004
79289286 1			195,000.00		194,230.14		07-Dec-2004		7.250%		CA - 70.91%		Paid Off - 360		7/1/2004
79794269 1			115,500.00		115,153.88		29-Oct-2004		7.500%		DE - 75.00%		Paid Off - 360		07/01/2004
79309225 1			149,999.00		149,514.10		12-Nov-2004		8.250%		NV - 75.00%		Paid Off - 360		7/1/2004
79803904 2			270,000.00		269,679.32		30-Oct-2004		11.900%		CA - 87.10%		Paid Off - 360		07/01/2004
79334843 1			63,750.00		63,605.09		02-Dec-2004		9.950%		WI - 74.56%		Paid Off - 360		7/1/2004
79816922 1			224,000.00		223,422.72		27-Oct-2004		8.250%		WA - 80.00%		Paid Off - 360		07/01/2004
79344727 1			125,000.00		124,553.12		18-Nov-2004		7.750%		CA - 45.45%		Paid Off - 360		7/1/2004
79825162 1			268,000.00		266,818.52		20-Oct-2004		5.500%		CA - 70.53%		Paid Off - 360		07/01/2004
79362646 1			60,000.00		58,191.40		08-Dec-2004		10.850%		CT - 35.71%		Paid Off - 120		7/1/2004
79830188 1			140,249.00		139,761.87		29-Oct-2004		6.750%		WI - 82.50%		Paid Off - 360		07/01/2004
79364782 1			247,000.00		245,673.46		26-Nov-2004		5.650%		MA - 74.85%		Paid Off - 360		7/1/2004
79840708 2			105,000.00		104,652.00		04-Nov-2004		6.990%		FL - 86.07%		Paid Off - 360		07/01/2004
79403788 1			166,500.00		165,829.57		23-Nov-2004		7.150%		MA - 74.00%		Paid Off - 360		7/1/2004
79873824 1			169,000.00		168,377.91		22-Oct-2004		6.450%		FL - 68.98%		Paid Off - 360		07/01/2004
79423588 1			163,800.00		163,119.44		24-Nov-2004		6.990%		IL - 90.00%		Paid Off - 360		7/1/2004
79877684 1			150,000.00		148,831.67		18-Oct-2004		7.150%		CA - 50.00%		Paid Off - 240		07/01/2004
79424123 1			137,480.00		136,839.47		18-Nov-2004		6.750%		RI - 78.56%		Paid Off - 360		7/1/2004
79893608 1			135,000.00		134,698.59		12-Oct-2004		8.950%		CT - 79.41%		Paid Off - 360		07/01/2004
79434783 1			262,500.00		261,409.37		24-Nov-2004		6.990%		FL - 73.94%		Paid Off - 360		7/1/2004
79894267 2			337,500.00		336,281.46		09-Nov-2004		6.550%		CA - 90.00%		Paid Off - 360		07/01/2004
79435186 1			81,000.00		80,782.29		24-Nov-2004		9.150%		IL - 90.00%		Paid Off - 360		7/1/2004
79903225 1			88,400.00		88,179.01		30-Oct-2004		8.400%		IL - 85.00%		Paid Off - 360		07/01/2004
79442604 1			104,400.00		104,041.43		24-Nov-2004		7.950%		IL - 90.00%		Paid Off - 360		7/1/2004
79904280 2			265,000.00		264,024.55		04-Nov-2004		6.450%		MA - 84.13%		Paid Off - 360		07/01/2004
79444584 1			104,000.00		103,115.87		18-Nov-2004		7.700%		FL - 54.74%		Paid Off - 360		7/1/2004
79905881 2			580,000.00		577,695.07		26-Oct-2004		6.050%		NV - 83.82%		Paid Off - 360		07/01/2004
79448767 1			99,000.00		98,662.71		24-Nov-2004		7.990%		IL - 90.00%		Paid Off - 360		7/1/2004
79931325 1			73,600.00		71,902.52		29-Oct-2004		7.200%		TX - 70.10%		Paid Off - 120		07/01/2004
79451209 1			220,800.00		219,803.10		09-Dec-2004		6.850%		NH - 70.10%		Paid Off - 360		7/1/2004
79978847 1			160,000.00		159,660.83		29-Oct-2004		9.200%		NY - 22.22%		Paid Off - 360		07/01/2004
79454781 1			126,000.00		125,407.42		03-Dec-2004		6.350%		AZ - 81.40%		Paid Off - 360		7/1/2004
79992806 1			190,000.00		189,280.15		27-Oct-2004		6.300%		CT - 48.10%		Paid Off - 360		07/01/2004
79460465 1			80,750.00		80,537.39		15-Nov-2004		9.250%		MD - 85.00%		Paid Off - 360		7/1/2004
80000508 1			133,500.00		132,927.78		04-Nov-2004		5.650%		CA - 41.97%		Paid Off - 360		07/01/2004
79470647 1			265,000.00		263,868.50		22-Nov-2004		6.850%		MA - 58.89%		Paid Off - 360		7/1/2004
80013220 1			153,000.00		152,442.21		14-Oct-2004		6.500%		CA - 87.43%		Paid Off - 360		07/01/2004
79484226 1			76,726.00		76,452.71		10-Dec-2004		7.990%		IN - 82.50%		Paid Off - 360		7/1/2004
80027360 2			376,029.00		374,590.63		18-Oct-2004		6.250%		CA - 72.04%		Paid Off - 360		07/01/2004
79495628 2			255,000.00		254,216.58		18-Nov-2004		8.500%		CT - 79.69%		Paid Off - 360		7/1/2004
80031529 2			122,300.00		121,914.88		19-Oct-2004		7.250%		FL - 78.90%		Paid Off - 360		07/01/2004
79501409 1			206,700.00		205,995.77		29-Nov-2004		7.990%		NY - 67.99%		Paid Off - 360		7/1/2004
80034002 1			217,000.00		216,356.16		19-Oct-2004		7.550%		CA - 62.90%		Paid Off - 360		07/01/2004
79507646 1			255,000.00		254,175.73		18-Nov-2004		8.250%		CA - 75.00%		Paid Off - 360		7/1/2004
80046063 1			122,000.00		121,634.38		20-Oct-2004		7.500%		IL - 54.22%		Paid Off - 360		07/01/2004
79513784 1			87,750.00		87,480.37		06-Dec-2004		8.500%		CA - 74.36%		Paid Off - 360		7/1/2004
80057623 2			135,000.00		134,483.60		01-Nov-2004		6.250%		AZ - 93.10%		Paid Off - 360		07/01/2004
79513941 1			210,000.00		208,964.08		30-Nov-2004		6.100%		CA - 87.50%		Paid Off - 360		7/1/2004
80065865 1			64,000.00		63,862.88		25-Oct-2004		9.150%		WI - 49.23%		Paid Off - 360		07/01/2004
79517207 1			122,576.00		122,015.87		18-Nov-2004		6.500%		FL - 86.78%		Paid Off - 360		7/1/2004
80077662 2			416,500.00		415,188.51		02-Nov-2004		7.250%		CA - 85.00%		Paid Off - 360		07/01/2004
79518544 1			242,000.00		240,986.64		19-Nov-2004		6.950%		CA - 50.95%		Paid Off - 360		7/1/2004
80078660 1			83,790.00		83,475.55		08-Nov-2004		6.350%		MI - 90.00%		Paid Off - 360		07/01/2004
79519401 1			71,400.00		71,234.24		29-Nov-2004		10.990%		GA - 85.00%		Paid Off - 360		7/1/2004
80091366 1			232,500.00		231,803.29		21-Oct-2004		7.500%		IL - 75.00%		Paid Off - 360		07/01/2004
79535464 1			225,000.00		224,169.36		02-Dec-2004		7.600%		WA - 60.00%		Paid Off - 360		7/1/2004
80118326 1			132,000.00		131,559.07		10-Nov-2004		6.950%		CA - 86.40%		Paid Off - 360		07/01/2004
79544805 1			160,000.00		159,416.46		16-Nov-2004		7.650%		MA - 59.26%		Paid Off - 360		7/1/2004
80120421 1			225,000.00		224,513.02		28-Oct-2004		9.100%		NY - 75.00%		Paid Off - 360		07/01/2004
79565842 1			205,000.00		204,107.49		12-Nov-2004		6.750%		CA - 50.00%		Paid Off - 360		7/1/2004
Page 25 of 34
Page 26 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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
80136245 1			90,100.00		89,766.74		21-Oct-2004		6.500%		CO - 62.14%		Paid Off - 360		07/01/2004
79572426 1			100,000.00		99,722.16		15-Nov-2004		8.990%		IL - 62.50%		Paid Off - 360		7/1/2004
80139108 1			180,000.00		179,589.73		08-Nov-2004		8.850%		MN - 90.00%		Paid Off - 360		07/01/2004
79574828 1			65,000.00		64,828.89		29-Nov-2004		9.250%		FL - 79.27%		Paid Off - 360		7/1/2004
80147846 1			100,000.00		99,597.49		09-Nov-2004		5.990%		MD - 54.86%		Paid Off - 360		07/01/2004
79582607 1			229,000.00		228,077.92		16-Nov-2004		7.150%		CA - 89.80%		Paid Off - 360		7/1/2004
80149180 1			81,000.00		80,846.98		26-Oct-2004		9.750%		MI - 60.00%		Paid Off - 360		07/01/2004
79594560 1			221,000.00		220,447.79		16-Nov-2004		9.500%		MD - 85.00%		Paid Off - 360		7/1/2004
80151343 1			156,500.00		156,108.79		03-Nov-2004		8.400%		CA - 48.91%		Paid Off - 360		07/01/2004
79603403 1			231,300.00		230,212.16		15-Nov-2004		6.350%		RI - 90.00%		Paid Off - 360		7/1/2004
80160385 1			212,000.00		211,099.81		30-Oct-2004		5.700%		MD - 83.35%		Paid Off - 360		07/01/2004
79604906 1			112,114.00		111,732.01		16-Nov-2004		7.990%		FL - 87.59%		Paid Off - 360		7/1/2004
80166887 1			108,000.00		107,740.83		03-Nov-2004		8.600%		MN - 65.45%		Paid Off - 360		07/01/2004
79606562 1			78,500.00		78,173.84		24-Nov-2004		6.990%		AZ - 60.38%		Paid Off - 360		7/1/2004
80172364 1			155,000.00		154,472.02		30-Oct-2004		6.850%		CA - 79.49%		Paid Off - 360		07/01/2004
79607826 1			90,000.00		89,779.75		22-Nov-2004		9.600%		GA - 60.00%		Paid Off - 360		7/1/2004
80175664 1			280,000.00		278,998.77		04-Nov-2004		6.600%		NY - 74.67%		Paid Off - 360		07/01/2004
79612222 1			123,250.00		122,922.14		30-Nov-2004		9.200%		IL - 85.00%		Paid Off - 360		7/1/2004
80189624 1			138,000.00		137,542.63		08-Nov-2004		6.990%		PA - 74.59%		Paid Off - 360		07/01/2004
79634085 2			338,000.00		336,595.68		07-Dec-2004		6.990%		CA - 82.44%		Paid Off - 360		7/1/2004
80189848 1			276,000.00		275,130.92		01-Nov-2004		7.250%		CA - 73.60%		Paid Off - 360		07/01/2004
79642625 2			136,000.00		133,861.18		23-Nov-2004		5.500%		CA - 44.59%		Paid Off - 360		7/1/2004
80193949 1			60,000.00		59,891.34		22-Oct-2004		9.950%		MN - 60.00%		Paid Off - 360		07/01/2004
79652640 1			206,800.00		205,636.32		01-Dec-2004		5.400%		CA - 81.61%		Paid Off - 360		7/1/2004
80213820 1			60,000.00		59,636.14		30-Oct-2004		8.990%		PA - 60.00%		Paid Off - 240		07/01/2004
79655221 2			515,000.00		512,926.39		02-Dec-2004		7.150%		CA - 73.57%		Paid Off - 360		7/1/2004
80214182 1			312,000.00		311,101.64		29-Oct-2004		7.700%		MD - 82.11%		Paid Off - 360		07/01/2004
79693503 1			201,500.00		200,772.43		11-Nov-2004		7.700%		IL - 69.48%		Paid Off - 360		7/1/2004
80219348 1			247,500.00		246,743.43		19-Oct-2004		7.400%		CA - 75.00%		Paid Off - 360		07/01/2004
79702080 2			171,000.00		170,357.48		10-Dec-2004		7.500%		RI - 83.41%		Paid Off - 360		7/1/2004
80232762 2			188,000.00		187,376.95		02-Nov-2004		6.990%		CA - 78.33%		Paid Off - 360		07/01/2004
79716767 1			201,000.00		200,315.22		06-Dec-2004		7.990%		CA - 61.85%		Paid Off - 360		7/1/2004
80247620 1			255,000.00		253,955.31		08-Nov-2004		5.900%		CA - 71.23%		Paid Off - 360		07/01/2004
79722583 1			225,000.00		223,100.77		22-Nov-2004		6.700%		CA - 90.00%		Paid Off - 360		7/1/2004
80250608 1			180,000.00		179,593.96		22-Oct-2004		8.900%		CA - 78.26%		Paid Off - 360		07/01/2004
79740106 1			211,000.00		210,035.84		26-Nov-2004		6.500%		CA - 86.12%		Paid Off - 360		7/1/2004
80306525 1			249,999.00		249,170.46		05-Nov-2004		6.990%		NY - 58.82%		Paid Off - 360		07/01/2004
79747085 1			200,000.00		199,248.51		29-Nov-2004		7.500%		MA - 52.63%		Paid Off - 360		7/1/2004
80319841 2			321,000.00		319,806.98		03-Nov-2004		6.400%		MA - 87.23%		Paid Off - 360		07/01/2004
79747747 1			75,000.00		74,473.11		30-Nov-2004		8.400%		MN - 71.43%		Paid Off - 360		7/1/2004
80320807 1			289,000.00		288,465.45		28-Oct-2004		9.850%		WA - 80.28%		Paid Off - 360		07/01/2004
79759684 1			176,000.00		175,338.29		01-Dec-2004		7.500%		CA - 81.86%		Paid Off - 360		7/1/2004
80329626 2			232,500.00		231,827.78		14-Oct-2004		7.750%		CA - 73.81%		Paid Off - 360		07/01/2004
79762407 1			229,200.00		228,419.11		30-Nov-2004		7.990%		MD - 60.00%		Paid Off - 360		7/1/2004
80337108 2			352,000.00		350,716.77		28-Oct-2004		6.500%		MD - 82.82%		Paid Off - 360		07/01/2004
79767703 2			193,877.00		193,016.38		10-Dec-2004		6.650%		FL - 84.66%		Paid Off - 360		7/1/2004
80339724 1			106,250.00		105,972.55		20-Oct-2004		8.250%		OK - 85.00%		Paid Off - 360		07/01/2004
79785382 1			119,000.00		118,525.54		29-Nov-2004		7.200%		FL - 74.38%		Paid Off - 360		7/1/2004
80344401 2			342,000.00		340,866.58		26-Oct-2004		6.990%		CA - 87.69%		Paid Off - 360		07/01/2004
79796405 1			220,000.00		218,883.41		30-Nov-2004		5.950%		CA - 73.33%		Paid Off - 360		7/1/2004
80354723 1			145,758.00		145,342.49		10-Nov-2004		7.750%		NV - 69.41%		Paid Off - 360		07/01/2004
79817102 1			110,500.00		109,999.91		30-Nov-2004		6.550%		AZ - 85.00%		Paid Off - 360		7/1/2004
80370208 1			153,000.00		152,601.39		14-Oct-2004		8.500%		FL - 76.50%		Paid Off - 360		07/01/2004
79825428 1			191,866.00		191,030.69		11-Nov-2004		6.750%		CA - 72.21%		Paid Off - 360		7/1/2004
80374226 1			79,734.00		79,563.19		01-Nov-2004		9.150%		WI - 65.36%		Paid Off - 360		07/01/2004
79829800 1			95,189.00		94,983.78		09-Dec-2004		10.200%		CT - 67.99%		Paid Off - 360		7/1/2004
80378540 1			324,000.00		322,926.22		02-Nov-2004		6.990%		CA - 81.00%		Paid Off - 360		07/01/2004
79856761 1			200,000.00		199,444.35		01-Dec-2004		8.990%		NY - 68.97%		Paid Off - 360		7/1/2004
80384829 1			174,900.00		174,320.37		11-Oct-2004		6.990%		CA - 60.31%		Paid Off - 360		07/01/2004
79858080 1			117,500.00		116,952.68		06-Dec-2004		6.400%		FL - 77.30%		Paid Off - 360		7/1/2004
80385529 1			263,700.00		263,054.15		19-Oct-2004		8.500%		IL - 90.00%		Paid Off - 360		07/01/2004
79863528 1			175,500.00		174,807.14		08-Dec-2004		7.250%		CA - 90.00%		Paid Off - 360		7/1/2004
80402365 1			66,777.00		66,402.13		18-Oct-2004		9.600%		LA - 64.21%		Paid Off - 240		07/01/2004
79880605 1			178,500.00		177,880.62		07-Dec-2004		7.900%		MA - 84.48%		Paid Off - 360		7/1/2004
80411226 1			121,600.00		121,286.59		12-Oct-2004		8.250%		IA - 95.00%		Paid Off - 360		07/01/2004
79884284 1			150,000.00		149,372.54		23-Nov-2004		7.250%		CA - 41.67%		Paid Off - 360		7/1/2004
80412968 1			112,000.00		110,691.17		18-Oct-2004		7.990%		GA - 89.60%		Paid Off - 180		07/01/2004
79918843 1			150,000.00		149,488.94		17-Nov-2004		7.990%		MA - 60.00%		Paid Off - 360		7/1/2004
80416944 1			97,500.00		97,261.18		30-Oct-2004		8.500%		NY - 60.94%		Paid Off - 360		07/01/2004
79933966 1			200,000.00		199,285.00		08-Dec-2004		7.750%		CA - 80.00%		Paid Off - 360		7/1/2004
80420409 1			126,000.00		125,741.11		26-Oct-2004		9.350%		MD - 68.11%		Paid Off - 360		07/01/2004
79942967 1			315,000.00		314,061.11		10-Dec-2004		8.850%		CA - 87.26%		Paid Off - 360		7/1/2004
80422181 2			362,690.00		361,547.94		08-Nov-2004		7.250%		CA - 90.00%		Paid Off - 360		07/01/2004
79981668 1			213,000.00		212,035.34		09-Dec-2004		7.300%		RI - 94.67%		Paid Off - 360		7/1/2004
80428121 2			495,000.00		493,051.48		05-Nov-2004		6.100%		CA - 89.67%		Paid Off - 360		07/01/2004
80008162 1			108,750.00		108,238.50		09-Dec-2004		6.350%		FL - 64.73%		Paid Off - 360		7/1/2004
Page 26 of 34
Page 27 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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
80429848 1			103,000.00		102,752.83		26-Oct-2004		8.600%		CT - 62.42%		Paid Off - 360		07/01/2004
80017163 1			67,000.00		66,177.40		26-Nov-2004		9.990%		MN - 32.68%		Paid Off - 180		7/1/2004
80442429 1			192,000.00		191,313.44		20-Oct-2004		6.600%		CA - 58.18%		Paid Off - 360		07/01/2004
80038706 2			80,000.00		79,310.92		01-Dec-2004		7.990%		IL - 78.43%		Paid Off - 240		7/1/2004
80453749 2			350,250.00		348,935.68		04-Nov-2004		6.350%		CA - 72.97%		Paid Off - 360		07/01/2004
80039563 1			283,500.00		282,434.76		26-Nov-2004		7.500%		CA - 87.23%		Paid Off - 360		7/1/2004
80512163 2			161,250.00		160,785.48		02-Nov-2004		7.750%		CA - 75.00%		Paid Off - 360		07/01/2004
80052921 1			242,500.00		241,512.07		01-Dec-2004		7.250%		MD - 89.93%		Paid Off - 360		7/1/2004
80546641 1			270,000.00		269,062.24		02-Nov-2004		6.750%		CA - 75.00%		Paid Off - 360		07/01/2004
80063100 1			63,500.00		63,364.54		30-Nov-2004		10.250%		MD - 32.56%		Paid Off - 360		7/1/2004
80555667 2			343,000.00		341,784.84		02-Nov-2004		6.650%		MD - 93.97%		Paid Off - 360		07/01/2004
80089980 2			171,500.00		170,846.76		06-Dec-2004		7.550%		CA - 71.46%		Paid Off - 360		7/1/2004
80557341 1			131,000.00		130,558.13		25-Oct-2004		6.900%		MD - 86.18%		Paid Off - 360		07/01/2004
80095185 2			237,000.00		236,103.65		23-Nov-2004		7.500%		CA - 89.43%		Paid Off - 360		7/1/2004
80569882 1			86,700.00		86,516.18		27-Oct-2004		9.200%		KS - 85.00%		Paid Off - 360		07/01/2004
80097280 1			288,000.00		286,709.18		29-Nov-2004		6.600%		NY - 74.81%		Paid Off - 360		7/1/2004
80587686 2			475,000.00		473,234.63		13-Oct-2004		6.400%		CA - 62.50%		Paid Off - 360		07/01/2004
80114903 2			175,350.00		174,509.34		24-Nov-2004		6.250%		CA - 83.50%		Paid Off - 360		7/1/2004
80604283 1			249,900.00		248,988.97		14-Oct-2004		6.500%		GA - 87.16%		Paid Off - 360		07/01/2004
80130743 2			84,000.00		83,790.10		03-Dec-2004		9.500%		FL - 73.04%		Paid Off - 360		7/1/2004
80605421 1			231,000.00		230,181.97		20-Oct-2004		6.650%		CA - 53.72%		Paid Off - 360		07/01/2004
80136328 1			267,750.00		267,146.53		19-Nov-2004		9.990%		NY - 85.00%		Paid Off - 360		7/1/2004
80620164 1			72,000.00		71,853.61		02-Nov-2004		9.400%		AL - 90.00%		Paid Off - 360		07/01/2004
80150105 1			127,500.00		127,263.41		18-Nov-2004		10.900%		IL - 85.00%		Paid Off - 360		7/1/2004
80630502 1			192,600.00		191,373.99		08-Nov-2004		6.350%		GA - 64.20%		Paid Off - 360		07/01/2004
80154743 1			304,500.00		302,738.23		30-Nov-2004		5.250%		CA - 60.90%		Paid Off - 360		7/1/2004
80633688 1			180,000.00		179,410.43		22-Oct-2004		7.050%		CA - 90.00%		Paid Off - 360		07/01/2004
80161722 1			238,000.00		237,189.15		22-Nov-2004		7.990%		CA - 85.00%		Paid Off - 360		7/1/2004
80710346 1			103,000.00		102,720.22		12-Oct-2004		7.990%		NY - 58.86%		Paid Off - 360		07/01/2004
80199227 2			212,500.00		211,740.33		12-Nov-2004		7.750%		NY - 59.69%		Paid Off - 360		7/1/2004
80734981 1			122,500.00		122,044.71		03-Nov-2004		6.400%		CA - 71.85%		Paid Off - 360		07/01/2004
80201502 2			350,000.00		348,385.24		26-Nov-2004		6.450%		CA - 77.78%		Paid Off - 360		7/1/2004
80762743 1			130,000.00		129,727.27		13-Oct-2004		9.250%		CA - 26.00%		Paid Off - 360		07/01/2004
80222920 1			140,000.00		139,372.49		29-Nov-2004		6.600%		CO - 75.68%		Paid Off - 360		7/1/2004
80771884 1			116,480.00		116,063.50		26-Oct-2004		6.600%		CA - 80.00%		Paid Off - 360		07/01/2004
80227663 1			144,000.00		143,173.38		01-Dec-2004		7.650%		WI - 90.00%		Paid Off - 360		7/1/2004
80774847 1			101,766.00		101,519.27		01-Nov-2004		8.550%		WI - 63.60%		Paid Off - 360		07/01/2004
80284847 1			153,000.00		152,553.37		19-Nov-2004		8.750%		FL - 78.46%		Paid Off - 360		7/1/2004
80776008 1			243,000.00		242,193.88		29-Oct-2004		6.990%		MN - 90.00%		Paid Off - 360		07/01/2004
80294044 1			165,000.00		164,427.62		30-Nov-2004		7.900%		CA - 74.66%		Paid Off - 360		7/1/2004
80778723 1			152,000.00		151,557.91		08-Nov-2004		7.650%		NY - 73.08%		Paid Off - 360		07/01/2004
80333628 1			180,000.00		179,418.16		09-Dec-2004		8.250%		MD - 83.72%		Paid Off - 360		7/1/2004
80784085 1			135,000.00		134,493.42		25-Oct-2004		6.350%		MD - 90.00%		Paid Off - 360		07/01/2004
80336605 1			153,000.00		152,557.97		24-Nov-2004		8.800%		WI - 90.00%		Paid Off - 360		7/1/2004
80789340 2			350,000.00		348,648.30		05-Nov-2004		6.200%		CA - 83.33%		Paid Off - 360		07/01/2004
80341969 1			246,510.00		245,485.79		23-Nov-2004		6.990%		CA - 90.00%		Paid Off - 360		7/1/2004
80885700 2			70,000.00		69,788.13		01-Nov-2004		7.450%		FL - 33.98%		Paid Off - 360		07/01/2004
80344088 2			358,000.00		356,113.10		24-Nov-2004		5.750%		CA - 63.36%		Paid Off - 360		7/1/2004
80896483 1			180,000.00		179,311.45		09-Nov-2004		6.250%		RI - 88.64%		Paid Off - 360		07/01/2004
80344724 1			67,000.00		66,797.01		29-Nov-2004		8.750%		CA - 43.23%		Paid Off - 360		7/1/2004
80900368 1			127,000.00		126,477.84		29-Oct-2004		6.250%		TN - 81.94%		Paid Off - 360		07/01/2004
80345648 1			296,700.00		295,875.69		23-Nov-2004		8.990%		CA - 76.08%		Paid Off - 360		7/1/2004
80907645 2			265,798.00		264,961.02		14-Oct-2004		7.250%		MA - 29.83%		Paid Off - 360		07/01/2004
80357049 1			248,000.00		247,049.47		09-Dec-2004		7.400%		CA - 65.26%		Paid Off - 360		7/1/2004
80907769 1			170,000.00		169,475.16		11-Oct-2004		7.350%		CA - 67.73%		Paid Off - 360		07/01/2004
80371982 1			212,500.00		211,574.81		11-Nov-2004		6.750%		FL - 88.54%		Paid Off - 360		7/1/2004
80914468 1			246,000.00		245,111.76		02-Nov-2004		6.550%		CA - 72.35%		Paid Off - 360		07/01/2004
80379563 1			150,000.00		149,463.78		15-Nov-2004		7.750%		FL - 60.00%		Paid Off - 360		7/1/2004
80932528 1			75,000.00		74,876.60		30-Oct-2004		9.050%		CA - 57.69%		Paid Off - 360		08/01/2004
80384928 1			180,000.00		178,047.46		09-Dec-2004		8.990%		CA - 73.47%		Paid Off - 360		7/1/2004
80967029 1			145,000.00		144,640.63		09-Nov-2004		6.990%		WA - 84.28%		Paid Off - 360		08/01/2004
80385800 1			225,000.00		224,649.18		24-Nov-2004		11.700%		NY - 60.00%		Paid Off - 360		7/1/2004
80981681 1			157,000.00		156,438.58		02-Nov-2004		6.600%		CA - 87.22%		Paid Off - 360		07/01/2004
80409626 1			260,000.00		258,932.38		22-Nov-2004		7.050%		NY - 77.61%		Paid Off - 360		7/1/2004
80990823 2			378,750.00		377,408.73		10-Nov-2004		6.650%		CA - 72.14%		Paid Off - 360		07/01/2004
80410723 1			90,000.00		89,581.63		07-Dec-2004		6.900%		MD - 81.08%		Paid Off - 360		7/1/2004
80995186 1			265,050.00		264,255.76		18-Oct-2004		7.500%		GA - 93.99%		Paid Off - 360		07/01/2004
80414980 1			292,000.00		290,956.07		26-Nov-2004		7.750%		NY - 80.00%		Paid Off - 360		7/1/2004
81007403 1			108,750.00		108,544.53		30-Oct-2004		9.750%		IL - 74.49%		Paid Off - 360		07/01/2004
80425069 2			349,000.00		347,242.04		18-Nov-2004		5.990%		CA - 89.49%		Paid Off - 360		7/1/2004
81021404 1			328,000.00		326,553.86		13-Oct-2004		5.500%		CA - 86.32%		Paid Off - 360		07/01/2004
80436124 1			216,750.00		215,935.57		29-Nov-2004		7.500%		IL - 83.37%		Paid Off - 360		7/1/2004
81081663 2			599,999.00		598,010.56		29-Oct-2004		6.990%		CA - 76.43%		Paid Off - 360		07/01/2004
80436884 1			220,498.00		219,480.70		01-Dec-2004		6.450%		NV - 90.00%		Paid Off - 360		7/1/2004
81083586 2			599,999.00		597,507.60		02-Nov-2004		6.700%		CA - 80.00%		Paid Off - 360		07/01/2004
80442247 2			195,000.00		194,252.58		24-Nov-2004		7.400%		MD - 75.00%		Paid Off - 360		7/1/2004
Page 27 of 34
Page 28 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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
81097768 1			315,000.00		314,204.53		13-Oct-2004		8.350%		CA - 60.00%		Paid Off - 360		07/01/2004
80465487 1			187,500.00		186,868.20		06-Dec-2004		8.150%		WA - 75.00%		Paid Off - 360		7/1/2004
81109803 2			344,000.00		342,769.94		18-Oct-2004		6.600%		CA - 68.80%		Paid Off - 360		07/01/2004
80465628 1			61,000.00		60,530.57		16-Nov-2004		8.900%		IN - 71.76%		Paid Off - 240		7/1/2004
81119265 2			500,000.00		498,441.08		18-Oct-2004		7.300%		CA - 79.37%		Paid Off - 360		07/01/2004
80477326 1			153,000.00		152,553.37		02-Dec-2004		8.750%		MA - 53.13%		Paid Off - 360		7/1/2004
81128241 2			62,000.00		61,537.08		18-Oct-2004		9.750%		WI - 68.89%		Paid Off - 180		08/01/2004
80479843 1			155,000.00		154,291.72		09-Dec-2004		6.500%		MD - 86.11%		Paid Off - 360		7/1/2004
81198947 2			110,000.00		109,776.63		01-Nov-2004		7.990%		RI - 59.46%		Paid Off - 360		08/01/2004
80482243 1			65,000.00		64,896.40		02-Dec-2004		10.550%		CT - 48.15%		Paid Off - 360		8/1/2004
81500100 1			200,000.00		199,475.41		10-Nov-2004		6.700%		CA - 75.64%		Paid Off - 360		08/01/2004
80493562 1			75,000.00		74,100.53		22-Nov-2004		10.250%		NY - 72.82%		Paid Off - 180		7/1/2004
81559627 2			348,500.00		348,085.34		28-Oct-2004		10.550%		FL - 85.00%		Paid Off - 360		08/01/2004
80501323 2			280,000.00		279,094.89		30-Nov-2004		8.250%		NY - 76.71%		Paid Off - 360		7/1/2004
81682288 2			360,000.00		359,009.49		22-Oct-2004		6.500%		MD - 90.00%		Paid Off - 360		08/01/2004
80508906 2			108,000.00		107,492.06		02-Dec-2004		6.350%		MA - 31.49%		Paid Off - 360		7/1/2004
81774085 1			260,000.00		259,644.58		27-Oct-2004		9.900%		MA - 64.04%		Paid Off - 360		08/01/2004
80527625 1			148,500.00		147,821.42		03-Dec-2004		6.500%		WA - 90.00%		Paid Off - 360		7/1/2004
82834888 1			80,250.00		80,103.10		27-Oct-2004		8.500%		PA - 75.00%		Paid Off - 360		08/01/2004
80532062 2			353,915.00		352,503.92		01-Dec-2004		7.200%		CA - 78.65%		Paid Off - 360		7/1/2004
82982067 1			263,725.00		262,925.78		10-Nov-2004		5.950%		MD - 90.00%		Paid Off - 360		08/01/2004
80541865 1			195,000.00		194,502.46		06-Dec-2004		9.400%		CA - 79.59%		Paid Off - 360		7/1/2004
83087049 2			107,300.00		107,131.42		01-Nov-2004		9.990%		IL - 75.56%		Paid Off - 360		08/01/2004
80544208 1			191,000.00		190,093.08		02-Dec-2004		6.300%		CA - 82.29%		Paid Off - 360		7/1/2004
83319004 2			366,287.00		365,504.49		21-Oct-2004		7.950%		MA - 61.05%		Paid Off - 360		08/01/2004
80559222 1			129,000.00		128,524.83		16-Nov-2004		7.600%		MD - 80.63%		Paid Off - 360		7/1/2004
83759241 1			197,000.00		196,492.53		08-Nov-2004		6.800%		CA - 89.26%		Paid Off - 360		08/01/2004
80573967 1			190,500.00		190,048.33		03-Dec-2004		9.750%		IL - 75.00%		Paid Off - 360		7/1/2004
78530144 2			117,300.00		116,974.12		01-Nov-2004		8.990%		GA - 85.00%		Repur/Subs - 360		07/01/2004
80596141 1			84,149.00		84,032.76		30-Nov-2004		12.250%		NC - 82.50%		Paid Off - 360		7/1/2004
80046444 1			234,000.00		232,981.11		28-Oct-2004		6.750%		NY - 90.00%		Repur/Subs - 360		07/01/2004
80600521 1			106,000.00		105,090.02		30-Nov-2004		6.650%		KS - 65.84%		Paid Off - 360		7/1/2004
82328949 1			86,616.00		86,380.70		25-Oct-2004		7.990%		CA - 90.00%		Repur/Subs - 360		08/01/2004
80600802 2			334,000.00		332,288.69		07-Dec-2004		5.900%		FL - 78.59%		Paid Off - 360		7/1/2004
TOTAL			64,896,856.00		64,584,899.28
80624166 1			60,000.00		59,785.50		06-Dec-2004		7.750%		FL - 37.50%		Paid Off - 360		7/1/2004
Page 28 of 34
80641202 1			85,000.00		84,667.69		24-Nov-2004		7.300%		FL - 61.77%		Paid Off - 360		7/1/2004
80660244 1			252,000.00		250,826.14		29-Nov-2004		6.400%		RI - 78.75%		Paid Off - 360		7/1/2004
80667421 1			125,000.00		124,020.48		19-Nov-2004		6.400%		GA - 57.05%		Paid Off - 360		7/1/2004
80696289 1			193,500.00		192,750.97		12-Nov-2004		7.350%		CA - 90.00%		Paid Off - 360		7/1/2004
80696826 1			235,000.00		233,851.57		29-Nov-2004		6.150%		IL - 82.46%		Paid Off - 360		7/1/2004
80697741 1			126,250.00		122,770.94		19-Nov-2004		8.300%		CA - 72.14%		Paid Off - 360		7/1/2004
80698368 1			191,000.00		190,117.85		30-Nov-2004		6.450%		IL - 84.89%		Paid Off - 360		7/1/2004
80705908 1			157,000.00		156,431.22		23-Nov-2004		7.750%		RI - 74.76%		Paid Off - 360		7/1/2004
80707862 1			157,500.00		156,878.19		12-Nov-2004		7.250%		FL - 90.00%		Paid Off - 360		7/1/2004
80760507 1			96,000.00		95,692.39		30-Nov-2004		8.800%		KS - 75.00%		Paid Off - 360		7/1/2004
80774946 1			256,000.00		254,663.36		19-Nov-2004		5.800%		CA - 81.27%		Paid Off - 360		7/1/2004
80782741 1			137,500.00		136,408.99		09-Dec-2004		6.990%		NY - 68.75%		Paid Off - 360		7/1/2004
80789506 1			180,000.00		179,252.14		09-Dec-2004		6.990%		GA - 92.31%		Paid Off - 360		7/1/2004
80789902 2			359,000.00		356,313.67		06-Dec-2004		7.990%		CA - 79.78%		Paid Off - 360		7/1/2004
80794761 1			71,000.00		70,796.95		16-Nov-2004		8.850%		MN - 60.68%		Paid Off - 360		7/1/2004
80795545 1			280,000.00		278,836.67		18-Nov-2004		6.990%		NY - 73.68%		Paid Off - 360		7/1/2004
80802127 1			324,000.00		322,292.31		15-Nov-2004		5.750%		CA - 90.00%		Paid Off - 360		7/1/2004
80803703 1			198,000.00		197,391.69		24-Nov-2004		8.500%		MA - 66.00%		Paid Off - 360		7/1/2004
80809783 2			90,000.00		89,586.29		22-Nov-2004		6.500%		FL - 73.90%		Paid Off - 360		7/1/2004
80846983 2			317,000.00		315,682.81		30-Nov-2004		6.990%		CA - 70.44%		Paid Off - 360		7/1/2004
Page 29 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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
80880040 2			429,250.00		427,172.45		16-Nov-2004		6.200%		MN - 85.00%		Paid Off - 360		7/1/2004
80884588 2			118,000.00		117,637.47		15-Nov-2004		8.500%		CA - 81.38%		Paid Off - 360		7/1/2004
80916380 2			577,000.00		575,857.96		17-Nov-2004		10.600%		CA - 76.93%		Paid Off - 360		7/1/2004
80923568 1			172,500.00		171,853.56		26-Nov-2004		7.990%		MD - 66.35%		Paid Off - 360		7/1/2004
80939242 1			140,000.00		139,425.14		29-Nov-2004		7.050%		ME - 88.61%		Paid Off - 360		7/1/2004
80970742 2			342,000.00		339,552.76		01-Dec-2004		5.850%		CA - 90.00%		Paid Off - 360		7/1/2004
80976905 1			300,000.00		298,977.92		29-Nov-2004		7.990%		NY - 70.59%		Paid Off - 360		7/1/2004
81040149 1			240,000.00		239,333.24		06-Dec-2004		8.990%		FL - 80.00%		Paid Off - 360		7/1/2004
81051682 2			148,750.00		148,480.62		01-Dec-2004		9.950%		WI - 85.00%		Paid Off - 360		8/1/2004
81055386 2			110,500.00		110,192.99		24-Nov-2004		8.990%		IL - 85.00%		Paid Off - 360		7/1/2004
81092108 2			340,000.00		338,657.71		18-Nov-2004		7.250%		CA - 89.95%		Paid Off - 360		7/1/2004
81127243 2			133,500.00		133,022.72		29-Nov-2004		7.750%		MD - 74.58%		Paid Off - 360		7/1/2004
81128688 2			75,000.00		74,273.69		10-Dec-2004		10.100%		MA - 16.59%		Paid Off - 180		8/1/2004
81162463 1			150,000.00		149,201.90		24-Nov-2004		5.700%		CA - 77.28%		Paid Off - 360		7/1/2004
81221301 2			70,000.00		69,899.84		01-Dec-2004		11.050%		MA - 64.81%		Paid Off - 360		8/1/2004
81308629 1			123,000.00		122,665.85		16-Nov-2004		7.990%		MD - 60.00%		Paid Off - 360		8/1/2004
81859167 1			118,200.00		117,845.77		24-Nov-2004		7.500%		CA - 78.80%		Paid Off - 360		8/1/2004
81889040 1			74,400.00		74,187.88		26-Nov-2004		7.750%		MI - 74.56%		Paid Off - 360		8/1/2004
82025727 1			225,000.00		224,332.43		22-Nov-2004		7.550%		IL - 75.00%		Paid Off - 360		8/1/2004
82830928 1			135,000.00		134,793.95		10-Dec-2004		10.750%		WA - 50.94%		Paid Off - 360		8/1/2004
83176560 1			218,500.00		217,851.71		19-Nov-2004		7.550%		FL - 64.64%		Paid Off - 360		8/1/2004
83650507 1			163,000.00		162,497.04		12-Nov-2004		7.990%		IL - 66.53%		Paid Off - 360		8/1/2004
69136646 1			63,000.00		62,646.10		30-Nov-2004		8.250%		OH - 88.85%		Repur/Subs - 360		4/1/2004
78494341 1			182,500.00		181,666.08		19-Nov-2004		6.500%		MN - 83.33%		Repur/Subs - 360		7/1/2004
79189205 2			287,998.00		287,223.95		30-Nov-2004		9.150%		FL - 90.00%		Repur/Subs - 360		7/1/2004
81041089 1			305,999.00		305,234.40		30-Nov-2004		9.500%		FL - 87.43%		Repur/Subs - 360		7/1/2004
TOTAL			70,600,189.00		70,280,783.25
Page 30 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
December 27, 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 29 of 34
Page 31 of 36
Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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%
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Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
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.
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Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 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
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Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
									Group 2		Group 1		Total
Does a Trigger Event Exist? (0=No,1=Yes)													0
Has a Stepdown Date Occurred? (0=No,1=Yes)													0
Balances 60+ days includes REO, Bankruptcy and Foreclosure													3145,~~639~~958,~~725~~616.3260
Delinquency Percentage													12.~~4200~~1200%
Balance of Mezzanine and C Class													322,799,975.48
Ending Balance													2,~~235~~163,~~209~~293,~~309~~904.9304
Credit Enhancement Percentage													14.~~4400~~9200%
ADJUSTABLE RATE CERTIFICATE INFORMATION
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Current LIBOR Rate													12.~~932500~~180630%
Next LIBOR Rate													0.000000%
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Ameriquest Mortgage Securities, Inc. 2004-R7
Mortgage Pass-Through Certificates
2004-R7
November 26, 2004 Distribution
December 27, 2004 Distribution
Additional Certificate Report
ADDITIONAL CERTIFICATE REPORT
									Next Pass Through Rate			NET WAC Shortfall CarryOver		NET WAC Shortfall Paid
CLASS
			A-1						0.21%			$0.00		$0.00
			A-2						0.14%			$0.00		$0.00
			A-3						0.27%			$0.00		$0.00
			A-4						0.45%			$0.00		$0.00
			A-5						0.45%			$0.00		$0.00
			A-6						0.45%			$0.00		$0.00
			M-1						1.40%			$0.00		$0.00
			M-2						1.90%			$0.00		$0.00
			M-3						2.15%			$0.00		$0.00
			M-4						3.50%			$0.00		$0.00
			M-5						2.50%			$0.00		$0.00
			M-6						2.50%			$0.00		$0.00
			M-7						2.50%			$0.00		$0.00
			M-8						2.50%			$0.00		$0.00
			M-9						2.50%			$0.00		$0.00
			M-10						2.50%			$0.00		$0.00
			M-11						2.50%			$0.00		$0.00
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Filing Compare · AMERIQUEST MORTGAGE SECURITIES INC ASSET-BACKED PASS-THROUGH CERTIFICATES SERIES 2004-R7