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


                                        FORM 8-K


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

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

            IndyMac ABS Inc (as Depositor under the Pooling and Servicing
         Agreement, dated as September 1, 2004, providing for the issuance
            of IndyMac MBS, Inc. Home Equity Mortgage Loan Asset-Backed
            Trust Series SPMD 2004-B Home Equity Mortgage Loan Asset-
                       Backed Certificates SPMD 2004-B
                 (Exact name of registrant as specified in charter)

                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-118931-01                         95-4685267
          (Commission File Number)        (I.R.S. Employer Identification No.)


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


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


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

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

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

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

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

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


     Item 8.01  Other Events

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


     Item 9.01 Financial Statements and Exhibits

     (c) Exhibits:

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     December 27, 2004.

                                    Signatures

               Pursuant to the requirements of the Securities Exchange Act of
          1934, the Registrant has duly caused this report to be signed on its
          behalf by the undersigned, hereunto duly authorized.


                                  Deutsche Bank National Trust Company,
                                  in its capacity as Trustee under the
                                  Pooling and Servicing Agreement on
                                  behalf of IndyMac MBS Inc, Registrant


          Date:  Dec 30, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          99.1 Monthly Remittance Statement to the Certificateholders
          dated as of December 27, 2004.



IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution

				External Parties						Table of Contents

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

										7. Foreclosure Report					14
										8. Prepayment Report					15
										9. Prepayment Detail Report					18
										9. Prepayment Detail Report					18
										10. Realized Loss Report					20
										11. Realized Loss Detail Report					23
				Servicer(s)						11. Realized Loss Detail Report					23
				Servicer(s)						12. Triggers and Adj. Cert. Report					24
				IndyMac Bank						12. Triggers and Adj. Cert. Report					24
				IndyMac Bank						13. Additional Certificate Report					25
										13. Additional Certificate Report					25
										14. Other Related Information					26


				Underwriter(s)
				Deutsche Bank


										Total Number of Pages					26
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			September 01, 2004			Brent Hoyler
				Close Date:			September 30, 2004			Administrator
				First Distribution Date:			October 25, 2004			(714) 247-6322
										Brent.Hoyler@db.com
										Brent.Hoyler@db.com
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			December 27, 2004
										Factor Information:			(800) 735-7777
				Record Date:			November 30, 2004			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							December 24, 2004
							December 24, 2004

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






Page 1 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Certificate Payment Report
Current Period Distribution - REMIC III
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
	Class		Original		Principal						Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance


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

A-1	FLT, STEP	$	562,362,000.00		551,727,371.51		1,216,551.65		7,784,711.59		9,001,263.24		0.00		0.00		543,942,659.92
A-1	FLT, STEP	$	562,362,000.00		551,727,371.51		1,216,551.65		7,784,711.59		9,001,263.24		0.00		0.00		543,942,659.92
A-II-1	FLT, STEP	$	119,237,000.00		111,336,516.73		227,279.67		7,582,098.39		7,809,378.06		0.00		0.00		103,754,418.34
A-II-2	FLT, STEP	$	103,919,000.00		103,919,000.00		227,350.32		0.00		227,350.32		0.00		0.00		103,919,000.00
A-II-3	FLT, STEP	$	31,982,000.00		31,982,000.00		75,201.70		0.00		75,201.70		0.00		0.00		31,982,000.00
M-1	MEZ, FLT	$	27,500,000.00		27,500,000.00		68,214.92		0.00		68,214.92		0.00		0.00		27,500,000.00
M-2	MEZ, FLT	$	28,000,000.00		28,000,000.00		70,660.75		0.00		70,660.75		0.00		0.00		28,000,000.00
M-3	MEZ, FLT	$	16,000,000.00		16,000,000.00		41,066.46		0.00		41,066.46		0.00		0.00		16,000,000.00
M-4	MEZ, FLT	$	14,500,000.00		14,500,000.00		41,586.62		0.00		41,586.62		0.00		0.00		14,500,000.00
M-5	MEZ, FLT	$	14,500,000.00		14,500,000.00		42,210.92		0.00		42,210.92		0.00		0.00		14,500,000.00
M-6	MEZ, FLT	$	15,000,000.00		15,000,000.00		46,895.64		0.00		46,895.64		0.00		0.00		15,000,000.00
M-7	MEZ, FLT	$	13,000,000.00		13,000,000.00		47,919.27		0.00		47,919.27		0.00		0.00		13,000,000.00
M-8	MEZ, FLT	$	10,500,000.00		10,500,000.00		39,608.20		0.00		39,608.20		0.00		0.00		10,500,000.00
M-9	MEZ, FLT	$	10,000,000.00		10,000,000.00		48,916.54		0.00		48,916.54		0.00		0.00		10,000,000.00
M-10	MEZ, FLT	$	2,500,000.00		2,500,000.00		12,229.13		0.00		12,229.13		0.00		0.00		2,500,000.00
C	SUB,EXE	$	31,000,000.00		31,000,000.00		3,286,285.65		0.00		3,286,285.65		0.00		0.00		31,000,000.00
P	SUB	$	100.00		100.00		137,290.40		0.00		137,290.40		0.00		0.00		100.00
R	R	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			1,000,000,100.00		981,464,988.24		5,629,267.84		15,366,809.98		20,996,077.82		0.00		0.00		966,098,178.26
Total




Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
									Orig. Principal		Prior							Current
									Orig. Principal		Prior							Current
	Period		Period						(with Notional)		Principal						Total	Principal
	Period		Period
Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1	11/26/04		12/26/04		A-Act/360		456606EZ1		562,362,000.00		981.089354		2.163289		13.842883		16.006173	967.246471
A-II-1	11/26/04		12/26/04		A-Act/360		456606FL1		119,237,000.00		933.741345		1.906117		63.588470		65.494587	870.152875
A-II-2	11/26/04		12/26/04		A-Act/360		456606FM9		103,919,000.00		1,000.000000		2.187765		0.000000		2.187765	1,000.000000
A-II-3	11/26/04		12/26/04		A-Act/360		456606FN7		31,982,000.00		1,000.000000		2.351376		0.000000		2.351376	1,000.000000
M-1	11/26/04		12/26/04		A-Act/360		456606FA5		27,500,000.00		1,000.000000		2.480543		0.000000		2.480543	1,000.000000
M-2	11/26/04		12/26/04		A-Act/360		456606FB3		28,000,000.00		1,000.000000		2.523598		0.000000		2.523598	1,000.000000
M-3	11/26/04		12/26/04		A-Act/360		456606FC1		16,000,000.00		1,000.000000		2.566654		0.000000		2.566654	1,000.000000
M-4	11/26/04		12/26/04		A-Act/360		456606FD9		14,500,000.00		1,000.000000		2.868043		0.000000		2.868043	1,000.000000
M-5	11/26/04		12/26/04		A-Act/360		456606FE7		14,500,000.00		1,000.000000		2.911098		0.000000		2.911098	1,000.000000
M-6	11/26/04		12/26/04		A-Act/360		456606FF4		15,000,000.00		1,000.000000		3.126376		0.000000		3.126376	1,000.000000
M-7	11/26/04		12/26/04		A-Act/360		456606FG2		13,000,000.00		1,000.000000		3.686098		0.000000		3.686098	1,000.000000
M-8	11/26/04		12/26/04		A-Act/360		456606FH0		10,500,000.00		1,000.000000		3.772210		0.000000		3.772210	1,000.000000
M-9	11/26/04		12/26/04		A-Act/360		456606FJ6		10,000,000.00		1,000.000000		4.891654		0.000000		4.891654	1,000.000000
M-10	11/26/04		12/26/04		A-Act/360		456606FK3		2,500,000.00		1,000.000000		4.891652		0.000000		4.891652	1,000.000000
C	11/26/04		12/26/04		F-Act/360		IN04S201C		31,000,000.00		1,000.000000		106.009215		0.000000		106.009215	1,000.000000
P	11/26/04		12/26/04		F-Act/360		IN04S201P		100.00		1,000.000000		1,372,904.000000		0.000000		1,372,904.000000	1,000.000000
R	11/26/04		12/26/04		F-Act/360		IN04S201R		0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution

Distribution to Date - REMIC III
																	Current


	Original				Unscheduled		Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal		Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)		(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
A-1	562,362,000.00		3,231,837.64		17,243,384.19		1,175,955.89		18,419,340.08		21,651,177.72		0.00		0.00		543,942,659.92
A-II-1	119,237,000.00		617,885.07		14,636,067.90		846,513.76		15,482,581.66		16,100,466.73		0.00		0.00		103,754,418.34
A-II-2	103,919,000.00		597,879.29		0.00		0.00		0.00		597,879.29		0.00		0.00		103,919,000.00
A-II-3	31,982,000.00		198,856.54		0.00		0.00		0.00		198,856.54		0.00		0.00		31,982,000.00
M-1	27,500,000.00		181,071.86		0.00		0.00		0.00		181,071.86		0.00		0.00		27,500,000.00
M-2	28,000,000.00		187,786.30		0.00		0.00		0.00		187,786.30		0.00		0.00		28,000,000.00
M-3	16,000,000.00		109,262.01		0.00		0.00		0.00		109,262.01		0.00		0.00		16,000,000.00
M-4	14,500,000.00		111,424.26		0.00		0.00		0.00		111,424.26		0.00		0.00		14,500,000.00
M-5	14,500,000.00		113,196.47		0.00		0.00		0.00		113,196.47		0.00		0.00		14,500,000.00
M-6	15,000,000.00		126,266.47		0.00		0.00		0.00		126,266.47		0.00		0.00		15,000,000.00
M-7	13,000,000.00		130,086.49		0.00		0.00		0.00		130,086.49		0.00		0.00		13,000,000.00
M-8	10,500,000.00		107,636.53		0.00		0.00		0.00		107,636.53		0.00		0.00		10,500,000.00
M-9	10,000,000.00		134,288.76		0.00		0.00		0.00		134,288.76		0.00		0.00		10,000,000.00
M-10	2,500,000.00		33,572.18		0.00		0.00		0.00		33,572.18		0.00		0.00		2,500,000.00
C	31,000,000.00		10,254,949.67		0.00		0.00		0.00		10,254,949.67		0.00		0.00		31,000,000.00
P	100.00		309,384.57		0.00		0.00		0.00		309,384.57		0.00		0.00		100.00
R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total	1,000,000,100.00		16,445,384.11		31,879,452.09		2,022,469.65		33,901,921.74		50,347,305.85		0.00		0.00		966,098,178.26


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

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

Class	Rate		Balance		Interest		Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
A-1	2.56063%		551,727,371.51		1,216,551.65		0.00		0.00		0.00		1,216,551.65		1,216,551.65		0.00
A-II-1	2.37063%		111,336,516.73		227,279.67		0.00		0.00		0.00		227,279.67		227,279.67		0.00
A-II-2	2.54063%		103,919,000.00		227,350.32		0.00		0.00		0.00		227,350.32		227,350.32		0.00
A-II-3	2.73063%		31,982,000.00		75,201.70		0.00		0.00		0.00		75,201.70		75,201.70		0.00
M-1	2.88063%		27,500,000.00		68,214.92		0.00		0.00		0.00		68,214.92		68,214.92		0.00
M-2	2.93063%		28,000,000.00		70,660.75		0.00		0.00		0.00		70,660.75		70,660.75		0.00
M-3	2.98063%		16,000,000.00		41,066.46		0.00		0.00		0.00		41,066.46		41,066.46		0.00
M-4	3.33063%		14,500,000.00		41,586.62		0.00		0.00		0.00		41,586.62		41,586.62		0.00
M-5	3.38063%		14,500,000.00		42,210.92		0.00		0.00		0.00		42,210.92		42,210.92		0.00
M-6	3.63063%		15,000,000.00		46,895.64		0.00		0.00		0.00		46,895.64		46,895.64		0.00
M-7	4.28063%		13,000,000.00		47,919.27		0.00		0.00		0.00		47,919.27		47,919.27		0.00
M-8	4.38063%		10,500,000.00		39,608.20		0.00		0.00		0.00		39,608.20		39,608.20		0.00
M-9	5.68063%		10,000,000.00		48,916.54		0.00		0.00		0.00		48,916.54		48,916.54		0.00
M-10	5.68063%		2,500,000.00		12,229.13		0.00		0.00		0.00		12,229.13		12,229.13		0.00
C	123.10747%		31,000,000.00		0.00		0.00		0.00		0.00		0.00		3,286,285.65		0.00
P	0.00000%		100.00		0.00		0.00		0.00		0.00		0.00		137,290.40		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			981,464,988.24		2,205,691.79		0.00		0.00		0.00		2,205,691.79		5,629,267.84		0.00



Page 3 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Collection Account Report
SUMMARY
SUMMARY
										Group 2		Group 1		Total
Principal Collections										7,582,098.39		7,784,711.59		15,366,809.98
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										7,582,098.39		7,784,711.59		15,366,809.98
Interest Collections										1,628,169.92		3,917,592.45		5,545,762.36
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		137,290.40
Interest Fees										-16,117.67		-37,667.25		-53,784.92
TOTAL NET INTEREST										1,612,052.25		3,879,925.19		5,629,267.84
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										9,194,150.64		11,664,636.78		20,996,077.82



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											198,267.83		487,508.63		685,776.46
Prepayments In Full											7,363,418.26		7,266,091.69		14,629,509.95
Curtailments											20,412.30		31,111.27		51,523.57
Liquidations											0.00		0.00		0.00
Insurance Principal											0.00		0.00		0.00
Repurchased Principal Amounts											0.00		0.00		0.00
Other Principal											0.00		0.00		0.00
Total Realized Loss Of Principal											-0.00		-0.00		-0.00
Delinquent Principal											-174,232.13		-427,128.26		-601,360.39
Advanced Principal											174,232.13		427,128.26		601,360.39
TOTAL PRINCIPAL COLLECTED											7,582,098.39		7,784,711.59		15,366,809.98


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



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





Page 4 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										1,740,285.73		4,162,271.19		5,902,556.92
Liquidation Interest										0.00		0.00		0.00
Repurchased Interest										0.00		0.00		0.00
Insurance Interest										0.00		0.00		0.00
Other Interest										0.00		0.00		0.00
Relief Act Interest Shortfalls										-0.00		-0.00		-0.00
Prepayment Interest Shortfalls										-6,887.81		-6,555.13		-13,442.94
Compensating Interest										6,887.81		6,555.13		13,442.94
Delinquent Interest										-1,530,954.24		-3,631,443.21		-5,162,397.44
Interest Advanced										1,418,838.43		3,386,764.46		4,805,602.89
TOTAL INTEREST COLLECTED										1,628,169.92		3,917,592.45		5,545,762.36


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



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges														137,290.40
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		137,290.40



INTEREST - FEES
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										15,606.78		36,542.37		52,149.15
Current Trustee Fees										510.89		1,124.88		1,635.77
TOTAL INTEREST OTHER FEES										16,117.67		37,667.25		53,784.92




Page 5 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Credit Enhancement Report

ACCOUNTS


Excess Reserve Fund Account

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




INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Overcollateralized Amount														31,000,000.00
Overcollateralization Target Amount														31,000,000.00
Overcollateralization Release Amount														0.00
Overcollateralization Deficiency Amount														0.00



Page 6 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



*Loan Count:*


Original										796		3,861		4,657
Prior										847		4,175		5,022
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-17		-44		-61
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										830		4,131		4,961
*Principal Balance:*


Original										281,594,690.25		622,813,725.33		904,408,415.58
Prior										306,534,214.96		674,930,673.28		981,464,888.24
Prefunding										0.00		0.00		0.00
Scheduled Principal										-198,267.83		-487,508.63		-685,776.46
Partial Prepayments										-20,412.30		-31,111.27		-51,523.57
Full Voluntary Prepayments										-7,363,418.26		-7,266,091.69		-14,629,509.95
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										298,952,116.57		667,145,961.69		966,098,078.26





PREFUNDING
PREFUNDING
										Group 2		Group 1		Total
Initial Pool Balance										314,434,698.23		685,565,301.77		1,000,000,000.00
Prefunding Begining Balance										0.00		0.00		0.00
Prefunding Ending Balance										0.00		0.00		0.00
Original Pool Balance with Prefunding Amount										314,434,698.23		685,565,301.77		1,000,000,000.00






Page 7 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution

CHARACTERISTICS
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										6.87772%		7.40005%		7.23742%
Weighted Average Coupon Prior										6.82393%		7.39776%		7.21716%
Weighted Average Coupon Current										6.81276%		7.40035%		7.21683%
Weighted Average Months to Maturity Original										356		354		354
Weighted Average Months to Maturity Prior										355		353		354
Weighted Average Months to Maturity Current										354		352		353
Weighted Avg Remaining Amortization Term Original										356		354		354
Weighted Avg Remaining Amortization Term Prior										355		353		354
Weighted Avg Remaining Amortization Term Current										354		352		353
Weighted Average Seasoning Original										2.11		1.95		2.00
Weighted Average Seasoning Prior										2.97		2.83		2.87
Weighted Average Seasoning Current										3.96		3.82		3.87









Page 8 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										4.90911%		4.98870%		4.96318%
Weighted Average Margin Prior										4.88290%		4.97171%		4.94417%
Weighted Average Margin Current										4.87750%		4.97472%		4.94470%
Weighted Average Max Rate Original										12.99328%		13.48543%		13.32760%
Weighted Average Max Rate Prior										12.98380%		13.47966%		13.32592%
Weighted Average Max Rate Current										12.96895%		13.48324%		13.32442%
Weighted Average Min Rate Original										4.92854%		5.00129%		4.97796%
Weighted Average Min Rate Prior										4.90654%		4.98622%		4.96152%
Weighted Average Min Rate Current										4.90238%		4.98943%		4.96254%
Weighted Average Cap Up Original										6.71235%		2.71083%		3.99407%
Weighted Average Cap Up Prior										6.49246%		2.68154%		3.86317%
Weighted Average Cap Up Current										6.47016%		2.68469%		3.85371%
Weighted Average Cap Down Original										6.71235%		2.71083%		3.99407%
Weighted Average Cap Down Prior										6.49246%		2.68154%		3.86317%
Weighted Average Cap Down Current										6.47016%		2.68469%		3.85371%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										15,606.78		36,542.37		52,149.15
Delinquent Servicing Fees										112,115.81		244,678.74		356,794.56
TOTAL SERVICING FEES										127,722.59		281,221.12		408,943.71


Compensating Interest										-6,887.81		-6,555.13		-13,442.94
Delinquent Servicing Fees										-112,115.81		-244,678.74		-356,794.56
COLLECTED SERVICING FEES										17,388.65		5,710.79		38,706.22


Aggregate Advances with respect to this Distribution										1,593,070.56		3,813,892.72		5,406,963.28





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														2.1806%

Libor For Next Period														2.4169%
Total Net Monthly Excess Cashflow														3,286,285.65




Page 9 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				11,119,286.36		3,787,755.87		0.00		14,907,042.23
			% Balance				1.15%		0.39%		0.00%		1.54%
			# Loans				67		23		0		90
			% # Loans				1.35%		0.46%		0.00%		1.81%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		123,601.36		0.00		0.00		0.00		123,601.36
			% Balance		0.01%		0.00%		0.00%		0.00%		0.01%
			# Loans		1		0		0		0		1
			% # Loans		0.02%		0.00%		0.00%		0.00%		0.02%
	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		123,601.36		11,119,286.36		3,787,755.87		0.00		15,030,643.59
			% Balance		0.01%		1.15%		0.39%		0.00%		1.56%
			# Loans		1		67		23		0		91
			% # Loans		0.02%		1.35%		0.46%		0.00%		1.83%









Page 10 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				8,833,028.78		1,655,053.29		0.00		10,488,082.07
			% Balance				1.32%		0.25%		0.00%		1.57%
			# Loans				58		16		0		74
			% # Loans				1.40%		0.39%		0.00%		1.79%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		123,601.36		0.00		0.00		0.00		123,601.36
			% Balance		0.02%		0.00%		0.00%		0.00%		0.02%
			# Loans		1		0		0		0		1
			% # Loans		0.02%		0.00%		0.00%		0.00%		0.02%
	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		123,601.36		8,833,028.78		1,655,053.29		0.00		10,611,683.43
			% Balance		0.02%		1.32%		0.25%		0.00%		1.59%
			# Loans		1		58		16		0		75
			% # Loans		0.02%		1.40%		0.39%		0.00%		1.82%










Page 11 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				2,286,257.58		2,132,702.58		0.00		4,418,960.16
			% Balance				0.76%		0.71%		0.00%		1.48%
			# Loans				9		7		0		16
			% # Loans				1.08%		0.84%		0.00%		1.93%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		2,286,257.58		2,132,702.58		0.00		4,418,960.16
			% Balance		0.00%		0.76%		0.71%		0.00%		1.48%
			# Loans		0		9		7		0		16
			% # Loans		0.00%		1.08%		0.84%		0.00%		1.93%









Page 12 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
REO Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

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



TOTAL



Page 13 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date




TOTAL



Page 14 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

											Group 2		Group 1		Total




*Current*


Number of Paid in Full Loans										17		44		61
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										17		44		61
Curtailments Amount										20,412.30		31,111.27		51,523.57
Paid in Full Balance										7,363,418.26		7,266,091.69		14,629,509.95
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										7,383,830.56		7,297,202.96		14,681,033.52

*Cumulative*


Number of Paid in Full Loans										35		91		126
Number of Repurchased Loans										3		2		5
Total Number of Loans Prepaid in Full										38		93		131
Paid in Full Balance										14,430,596.33		16,697,752.12		31,128,348.45
Repurchased Loans Balance										243,350.00		262,975.00		506,325.00
Curtailments Amount										198,459.01		17,525.11		215,984.12
Total Prepayment Amount										14,872,405.34		16,978,252.23		31,850,657.57










Page 15 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

											Group 2		Group 1		Total



SMM										2.41%		1.08%		1.50%
3 Months Avg SMM										1.62%		0.85%		1.09%
12 Months Avg SMM										1.62%		0.85%		1.09%
Avg SMM Since Cut-off										1.62%		0.85%		1.09%


CPR										25.38%		12.24%		16.56%
3 Months Avg CPR										17.78%		9.73%		12.33%
12 Months Avg CPR										17.78%		9.73%		12.33%
Avg CPR Since Cut-off										17.78%		9.73%		12.33%


PSA										3,203.43%		1,599.77%		2,140.41%
3 Months Avg PSA Approximation										2,952.42%		1,695.98%		2,115.28%
12 Months Avg PSA Approximation										2,952.42%		1,695.98%		2,115.28%
Avg PSA Since Cut-off Approximation										2,952.42%		1,695.98%		2,115.28%










Page 16 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution






PREPAYMENT CALCULATION METHODOLOGY

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

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

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

	Weighted Average Seasoning (WAS)

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




Page 17 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

3138891 2			1,000,000.00		1,000,000.00			30-Nov-2004		5.125%		NY - 62.50%		Paid Off - 360		06/01/2004
3138891 2			1,000,000.00		1,000,000.00			30-Nov-2004		5.125%		NY - 62.50%		Paid Off - 360		06/01/2004
3529374 2			462,000.00		462,000.00			02-Dec-2004		5.500%		CA - 59.23%		Paid Off - 360		07/01/2004
3558122 1			153,000.00		152,333.88			30-Nov-2004		6.750%		MD - 85.00%		Paid Off - 360		07/01/2004
3566682 1			140,000.00		140,000.00			01-Dec-2004		5.000%		CA - 40.00%		Paid Off - 360		07/01/2004
3634462 1			159,000.00		158,511.53			01-Dec-2004		8.500%		NY - 53.00%		Paid Off - 360		07/01/2004
3653009 1			42,000.00		41,904.77			18-Nov-2004		8.875%		CA - 75.00%		Paid Off - 360		08/01/2004
3659029 2			438,900.00		437,679.86			23-Nov-2004		7.875%		MD - 77.00%		Paid Off - 360		08/01/2004
3666126 1			56,905.00		56,738.90			16-Nov-2004		8.750%		NJ - 95.00%		Paid Off - 360		07/01/2004
3667457 1			151,200.00		150,648.79			23-Nov-2004		6.500%		CA - 80.00%		Paid Off - 360		08/01/2004
3729718 1			129,625.00		129,161.62			02-Dec-2004		7.750%		NJ - 85.00%		Paid Off - 360		07/01/2004
3733806 1			292,000.00		286,561.53			07-Dec-2004		7.625%		NJ - 84.64%		Paid Off - 180		06/01/2004
3773799 2			338,250.00		337,046.36			02-Dec-2004		6.625%		NJ - 75.00%		Paid Off - 360		08/01/2004
3785786 2			96,000.00		95,543.80			16-Nov-2004		7.250%		CA - 80.00%		Paid Off - 360		06/01/2004
3791439 1			130,000.00		129,275.71			06-Dec-2004		5.625%		MA - 78.79%		Paid Off - 360		07/01/2004
3793410 1			105,000.00		104,677.45			01-Dec-2004		7.375%		FL - 67.74%		Paid Off - 360		08/01/2004
3800066 1			73,000.00		72,786.63			01-Dec-2004		7.625%		AL - 66.36%		Paid Off - 360		08/01/2004
3815453 1			189,000.00		188,474.58			30-Nov-2004		7.875%		NJ - 90.00%		Paid Off - 360		08/01/2004
3827410 1			199,750.00		199,056.27			02-Dec-2004		6.750%		NY - 85.00%		Paid Off - 360		08/01/2004
3875081 1			201,000.00		200,305.34			23-Nov-2004		9.625%		OH - 49.63%		Paid Off - 360		08/01/2004
3892140 1			222,330.00		221,880.43			01-Dec-2004		10.500%		FL - 42.76%		Paid Off - 360		07/01/2004
3917761 1			200,000.00		199,546.51			06-Dec-2004		8.875%		FL - 61.82%		Paid Off - 360		08/01/2004
3927512 1			250,000.00		249,638.41			18-Nov-2004		11.000%		NY - 62.04%		Paid Off - 360		08/01/2004
3930066 1			216,000.00		215,457.31			23-Nov-2004		8.375%		NJ - 84.05%		Paid Off - 360		08/01/2004
3934895 1			144,900.00		144,640.71			24-Nov-2004		8.625%		WA - 87.82%		Paid Off - 360		09/01/2004
120012509 1			141,000.00		140,400.87			16-Nov-2004		6.875%		RI - 56.86%		Paid Off - 360		07/01/2004
120017555 1			50,000.00		49,947.96			07-Dec-2004		9.250%		MD - 25.00%		Paid Off - 360		10/01/2004
120021146 1			265,200.00		264,784.34			02-Dec-2004		9.250%		IL - 85.00%		Paid Off - 360		09/01/2004
120029488 1			289,000.00		288,497.55			18-Nov-2004		8.750%		CT - 85.00%		Paid Off - 360		09/01/2004
120046856 2			136,800.00		136,130.97			03-Dec-2004		6.500%		CA - 80.00%		Paid Off - 360		07/01/2004
120047050 1			314,500.00		313,484.98			17-Nov-2004		7.125%		MS - 73.83%		Paid Off - 360		08/01/2004
120058356 1			143,500.00		143,345.10			07-Dec-2004		11.000%		PA - 70.00%		Paid Off - 360		09/01/2004
120061331 1			79,200.00		79,090.64			29-Nov-2004		7.875%		MD - 80.00%		Paid Off - 360		10/01/2004
120062635 1			183,600.00		183,134.61			03-Dec-2004		6.875%		NV - 90.00%		Paid Off - 360		09/01/2004
120070785 1			122,500.00		122,281.48			06-Dec-2004		8.625%		FL - 70.00%		Paid Off - 360		09/01/2004
120074325 1			118,150.00		117,950.91			18-Nov-2004		6.875%		MI - 85.00%		Paid Off - 360		10/01/2004
120105119 2			480,000.00		479,513.31			06-Dec-2004		9.375%		CA - 78.69%		Paid Off - 360		10/01/2004
120107301 1			135,900.00		135,301.14			30-Nov-2004		8.500%		TX - 90.00%		Paid Off - 360		05/01/2004
120107301 1			135,900.00		135,301.14					8.500%		TX - 90.00%		Paid Off - 360



Page 18 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution

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

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

120107360 1			120,000.00		119,159.64			17-Nov-2004		7.500%		TX - 80.00%		Paid Off - 360		03/01/2004
120107360 1			120,000.00		119,159.64			17-Nov-2004		7.500%		TX - 80.00%		Paid Off - 360		03/01/2004
120114895 1			310,000.00		309,560.99			07-Dec-2004		7.750%		NJ - 89.86%		Paid Off - 360		10/01/2004
120119081 2			376,000.00		376,000.00			02-Dec-2004		8.000%		CA - 80.00%		Paid Off - 360		10/01/2004
120125923 2			400,000.00		399,168.10			29-Nov-2004		7.875%		MD - 89.09%		Paid Off - 360		09/01/2004
120134814 1			321,750.00		321,525.69			24-Nov-2004		11.125%		CA - 65.00%		Paid Off - 360		10/01/2004
120151208 1			172,000.00		171,717.18			03-Dec-2004		7.000%		GA - 79.89%		Paid Off - 360		10/01/2004
120159099 1			146,400.00		146,010.35			07-Dec-2004		6.625%		MN - 80.00%		Paid Off - 360		09/01/2004
120164551 2			640,800.00		640,800.00			17-Nov-2004		6.125%		CA - 80.00%		Paid Off - 360		10/01/2004
120165633 2			294,700.00		294,700.00			16-Nov-2004		7.875%		AZ - 76.95%		Paid Off - 360		09/01/2004
120172524 2			368,000.00		367,664.25			23-Nov-2004		9.875%		IL - 80.00%		Paid Off - 360		10/01/2004
120183079 1			32,400.00		32,366.27			07-Dec-2004		9.250%		MO - 90.00%		Paid Off - 360		10/01/2004
120186035 1			139,920.00		139,689.95			29-Nov-2004		7.000%		IA - 80.00%		Paid Off - 360		10/01/2004
120190766 1			116,000.00		115,349.28			30-Nov-2004		8.375%		MO - 63.39%		Paid Off - 180		10/01/2004
120212389 2			590,000.00		588,877.46			19-Nov-2004		6.250%		CA - 75.64%		Paid Off - 360		10/01/2004
120219256 1			145,000.00		144,871.17			06-Dec-2004		10.000%		DC - 100.00%		Paid Off - 360		10/01/2004
120230955 1			110,000.00		109,694.18			16-Nov-2004		7.875%		MA - 76.92%		Paid Off - 360		08/01/2004
120233796 2			514,000.00		513,588.97			01-Dec-2004		7.125%		MI - 84.96%		Paid Off - 360		11/01/2004
120238272 1			296,000.00		295,780.33			30-Nov-2004		7.500%		CA - 66.52%		Paid Off - 360		11/01/2004
120241045 2			400,000.00		399,244.37			18-Nov-2004		9.750%		CA - 64.00%		Paid Off - 360		08/01/2004
120262441 1			100,000.00		99,915.99			29-Nov-2004		6.875%		OH - 50.00%		Paid Off - 360		11/01/2004
120269988 1			115,627.00		115,497.43			22-Nov-2004		5.375%		AZ - 79.96%		Paid Off - 360		11/01/2004
120271059 1			265,500.00		265,133.29			06-Dec-2004		7.875%		NJ - 90.00%		Paid Off - 360		10/01/2004
120295349 2			381,000.00		380,826.90			02-Dec-2004		9.875%		VA - 75.00%		Paid Off - 360		11/01/2004
120345480 2			458,300.00		454,633.91			30-Nov-2004		6.375%		NJ - 79.70%		Paid Off - 360		10/01/2004


TOTAL			14,662,607.00		14,629,509.95
TOTAL


Page 19 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


*Current*
*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*
*Cumulative*



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






		Class M-10 Writedown Amount														0.00
		Class M-9 Writedown Amount														0.00
		Class M-8 Writedown Amount														0.00
		Class M-7 Writedown Amount														0.00
		Class M-6 Writedown Amount														0.00
		Class M-5 Writedown Amount														0.00
		Class M-4 Writedown Amount														0.00
		Class M-3 Writedown Amount														0.00
		Class M-2 Writedown Amount														0.00
		Class M-1 Writedown Amount														0.00









Page 20 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

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%












Page 21 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution





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



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

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

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

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

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

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

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




Page 22 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

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

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




TOTAL



Page 23 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
										Group 2		Group 1		Total
Stepdown Date has occurred (0 = No, 1=Yes)														0
Does a Trigger Event Exist-Either a) or b) Yes?														0
a) Does a Delinquency Trigger Event Exists (0=No,1=Yes)														0
b) Does a Loss Trigger Event Exists (0=No,1=Yes)														0
60+ days Delinqueny Bal.-3M Rolling Avg.														1,303,785.74
Ending Collateral Balance														966,098,078.26
Delinquency Percentage														0.1300%
Beginning Balance of Mezzanine and C Class														182,500,000.00
Beginning Collateral Balance														981,464,888.24
Credit Enhancement Percentage														18.5900%
Cumulative Loss Percentage														0.0000%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total

Cap Contract Payments														0.00




Page 24 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

													NET WAC Shortfall CarryOver		NET WAC Shortfall Paid
CLASS

			A-1										$0.00		$0.00
													$0.00		$0.00
			A-II-1										$0.00		$0.00
													$0.00		$0.00
			A-II-2										$0.00		$0.00
													$0.00		$0.00
			A-II-3										$0.00		$0.00
													$0.00		$0.00
			M-1										$0.00		$0.00
													$0.00		$0.00
			M-2										$0.00		$0.00
													$0.00		$0.00
			M-3										$0.00		$0.00
													$0.00		$0.00
			M-4										$0.00		$0.00
													$0.00		$0.00
			M-5										$0.00		$0.00
													$0.00		$0.00
			M-6										$0.00		$0.00
													$0.00		$0.00
			M-7										$0.00		$0.00
													$0.00		$0.00
			M-8										$0.00		$0.00
													$0.00		$0.00
			M-9										$0.00		$0.00
													$0.00		$0.00
			M-10										$0.00		$0.00
													$0.00		$0.00




Page 25 of 26
IndyMac SPMD 2004-B

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2004-B

December 27, 2004 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Sched. Payments for 60+Day Delinquent Loans										15,544.76		14,200.63		29,745.39
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior										0.00		0.00		0.00



Current Scheduled Payments										1,938,553.56		4,649,779.82		6,588,333.38
Current Scheduled Payments 1 Month Prior										1,999,719.40		4,691,447.49		6,691,166.89
Current Scheduled Payments 2 Month Prior										1,790,869.73		4,290,368.00		6,081,237.74
Current Scheduled Payments 3 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 4 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 5 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 6 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 7 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 8 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 9 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 10 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 11 Month Prior										0.00		0.00		0.00




Page 26 of 26

IndyMac ABS, Inc., Home Equity Mortgage Loan Asset Backed Trust, SPMD 2004-B 8-K