
                                       UNITED STATES
                           SECURITIES AND EXCHANGE COMMISSION
                                 Washington, D.C.  20549


                                        FORM 8-K


                     Current Report Pursuant To Section 13 or 15(d) of
                            the Securities Exchange Act of 1934

           Date of Report (Date of earliest event reported):  December 28, 2004
                          (Date of earliest event reported)

                Lehman ABS Corporation (as Note Trust Depositor under the Sale
         Agreement, dated as September 29, 2004, providing for the issuance of
                         Indymac Home Equity Loan Trust 2004-2
                 (Exact name of registrant as specified in charter)

                                        DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-116432-01                         13-3447441
          (Commission File Number)        (I.R.S. Employer Identification No.)


          3 World Financial Center
          NEW YORK, NY                                  10285
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (212) 526-7000


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

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

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

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

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

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


     Item 8.01  Other Events

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


     Item 9.01 Financial Statements and Exhibits

     (c) Exhibits:

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     December 28, 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 Indymac MBS Inc, Registrant


          Date:  Dec 31, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          99.1 Monthly Remittance Statement to the Certificateholders
          dated as of December 28, 2004.


	IndyMac Home Equity Loan Trust 2004-2
	Collateralized Asset-Backed Bonds


	December 28, 2004 Distribution


	Contents



			TABLE OF CONTENTS

								Page

			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Triggers, Adj. Rate Cert. and Miscellaneous Report				8












				Total Number of Pages				8



			CONTACTS

				Administrator: Brent Hoyler
				Direct Phone Number: (714)247-6322
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705

				Web Site: https://www.tss.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000



ISSUANCE INFORMATION

	Seller:		IndyMac Bank					Cut-Off Date: September 1, 2004
	Certificate Insurer(s):							Closing Date: September 29, 2004
								First Payment Date: October 28, 2004
	Servicer(s):		IndyMac Bank


								Distribution Date: December 28, 2004
	Underwriter(s):		Lehman Brothers Underwriter					Record Date: December 27, 2004







						Page 1 of 8					© COPYRIGHT 2004 Deutsche Bank
	IndyMac Home Equity Loan Trust 2004-2
	Collateralized Asset-Backed Bonds
	Series 2004-02
	Certificate Payment Report for December 28, 2004 Distribution


	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)

A		500,000,000.00			500,000,000.00	958,864.86	-	958,864.86	-	-	500,000,000.00


Total		500,000,000.00			500,000,000.00	958,864.86	-	958,864.86	-	-	500,000,000.00


	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)	(2)	(3)	(4)=(2)+(3)	(5)

A	11/29/04	12/27/04		A-Act/360	45661AAC6	500,000,000.00	1,000.000000	1.917730	-	1.917730	1,000.000000


							Page 2 of 8				© COPYRIGHT 2004 Deutsche Bank
	IndyMac Home Equity Loan Trust 2004-2
	Collateralized Asset-Backed Bonds
	Series 2004-02
	Certificate Payment Report for December 28, 2004 Distribution


	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)

A	500,000,000.00		2,739,975.97		-	-	-	2,739,975.97	-	-	500,000,000.00


Total	500,000,000.00		2,739,975.97		-	-	-	2,739,975.97	-	-	500,000,000.00


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

A	2.38063%	500,000,000.00			958,864.86	-	-	-	958,864.86	958,864.86	-


Total		500,000,000.00			958,864.86	-	-	-	958,864.86	958,864.86	-


							Page 3 of 8				© COPYRIGHT 2004 Deutsche Bank
	IndyMac Home Equity Loan Trust 2004-2
	Collateralized Asset-Backed Bonds

	Collection Account Report for December 28, 2004 Distribution


	Collection Account Report


SUMMARY								TOTAL

	Principal Collections							0.00
	Interest Collections							981,666.67
	Interest Withdrawals							(16,135.14)
	Interest Fees							(6,666.67)
	Interest Other Accounts							0.00

	AVAILABLE FUNDS TO BONDHOLDERS							958,864.86


PRINCIPAL - COLLECTIONS								TOTAL

	On Underlying, Indymac Home Equity Loan Trust 2004-2 Class A							0.00


				Page 4 of 8				© COPYRIGHT 2004 Deutsche Bank
	IndyMac Home Equity Loan Trust 2004-2
	Collateralized Asset-Backed Bonds

	Collection Account Report for December 28, 2004 Distribution


	Collection Account Report


PRINCIPAL - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


PRINCIPAL - OTHER ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - COLLECTIONS								TOTAL

	On Underlying, Indymac Home Equity Loan Trust 2004-2 Class A							981,666.67


				Page 5 of 8				© COPYRIGHT 2004 Deutsche Bank
	IndyMac Home Equity Loan Trust 2004-2
	Collateralized Asset-Backed Bonds

	Collection Account Report for December 28, 2004 Distribution


	Collection Account Report


INTEREST - WITHDRAWALS								TOTAL

	Class A Note Reserve Fund Deposit							16,135.14

	TOTAL INTEREST WITHDRAWLS							16,135.14


INTEREST - OTHER ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - FEES								TOTAL

	Indenture Trustee fees							416.67
	Insurance Premium Fees							6,250.00

	TOTAL INTEREST FEES							6,666.67


				Page 6 of 8				© COPYRIGHT 2004 Deutsche Bank
	IndyMac Home Equity Loan Trust 2004-2
	Collateralized Asset-Backed Bonds

	Credit Enhancement Report for December 28, 2004 Distribution


	Credit Enhancement Report


ACCOUNTS								TOTAL

	Resereve Fund Beginning Balance							216,527.78

	Required Class A Note Reserve Fund Deposit							16,135.14
	Reserve Fund Ending Balance							232,662.92
	Reimbursement amount due to Certificate Insurer							0.00

	Reimbursement amount paid to Certificate Insurer							0.00

	Cumulative Reimbursement amt remaining unpaid to Insurer							0.00


INSURANCE								TOTAL
SPACE INTENTIONALLY LEFT BLANK


STRUCTURAL FEATURES								TOTAL
SPACE INTENTIONALLY LEFT BLANK


				Page 7 of 8				© COPYRIGHT 2004 Deutsche Bank
	IndyMac Home Equity Loan Trust 2004-2
	Collateralized Asset-Backed Bonds

	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 28, 2004 Distribution


	Triggers, Adj. Rate Cert. and Miscellaneous Report


TRIGGER EVENTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADJUSTABLE RATE CERTIFICATE INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADDITIONAL INFORMATION								TOTAL

	INSURANCE POLICY DRAW AMOUNT							0.00

	(x) Guranteed Interest Draw Amount							0.00
	(y) Guranteed Principal Draw Amount							0.00
	(z) Guranteed Backstop Amount							0.00
	Total Insurance Policy Draw Amount							0.00

	Has Rapid Amortization event occured?							No
	Months to Mandatory Auction Payment Date							21

	LIBOR Determination Date							Nov-24-04
	LIBOR Rate							2.180630%



				Page 8 of 8				© COPYRIGHT 2004 Deutsche Bank

IndyMac Home Equity Loan Trust 2004-2 8-K