8-K 1 ffm04ff2_aug.txt AUGUST 8-K 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): August 25, 2004 FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2004-FF2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-111379-07 54-2151948 Pooling and Servicing Agreement) (Commission 54-2151947 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (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 under the Exchange Act (17 CFR 240.14a-12) [ ] 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 On August 25, 2004 a distribution was made to holders of FIRST FRANKLIN MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2004-FF2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-FF2 Trust, relating to the August 25, 2004 distribution. 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2004-FF2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 8/27/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-FF2 Trust, relating to the August 25, 2004 distribution. EX-99.1

First Franklin Mortgage Loan Trust ~~Asset~~Mortgage ~~Backed~~Pass-Through Certificates Record Date: 67/3031/042004 Distribution Date: 78/2625/042004 FFM Series: 2004-FF2 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 32027NHB0 SEN 1.~~52000~~67000% ~~303~~295,483,~~612~~390.1055 ~~397~~411,~~226~~214.3339 8,~~000~~765,~~221~~026.5507 A-2 32027NHC8 SEN 1.~~39000~~54000% ~~113~~107,~~474~~724,~~363~~579.7756 ~~135~~138,~~822~~246.5154 57,~~749~~112,~~784~~129.2240 A-3 32027NHD6 SEN 1.~~50000~~65000% 184,000,000.00 ~~237~~253,~~666~~000.6700 0.00 A-4 32027NHE4 SEN 1.~~67000~~82000% 30,836,000.00 4446,~~343~~767.8893 0.00 A-5 32027NHF1 SEN 1.~~38000~~53000% 2221,~~694~~544,~~872~~915.7591 2627,~~969~~469.0777 1,~~149~~422,~~956~~425.8488 A-6 32027NHG9 SEN 1.~~52000~~67000% 4846,~~228~~972,~~786~~989.6141 6365,~~126~~370.1274 1,~~255~~843,~~797~~379.2062 M-1 32027NHH7 MEZ 1.~~75000~~90000% 26,374,000.00 3941,~~744~~758.1583 0.00 M-2 32027NHJ3 MEZ 1.~~80000~~95000% 24,176,000.00 3739,~~472~~286.8000 0.00 M-3 32027NHK0 MEZ 12.~~85000~~00000% 15,385,000.00 2425,~~509~~641.1667 0.00 M-4 32027NHL8 MEZ 2.~~20000~~35000% 10,989,000.00 2021,~~818~~520.0513 0.00 M-5 32027NHM6 MEZ 2.~~30000~~45000% 15,385,000.00 3031,~~470~~411.8504 0.00 M-6 32027NHN4 MEZ 2.~~55000~~70000% 9,670,000.00 21,~~233~~757.7150 0.00 M-7 32027NHP9 MEZ 23.~~97500~~12500% 12,308,000.00 3132,~~530~~052.7008 0.00 M-8 32027NHQ7 MEZ 3.~~10000~~25000% 9,670,000.00 2526,~~813~~189.5358 0.00 M-9 32027NHR5 MEZ 4.~~20000~~35000% 8,791,000.00 31,~~794~~867.1238 0.00 B 32027NHS3 SUB 4.~~80000~~95000% 10,549,000.00 43,~~602~~514.5363 0.00 C FFM04FF2C SEN 0.00000% 6,153,851.87 3,~~276~~144,~~592~~039.4786 0.00 P FFM04FF2P SEN 0.00000% 100.00 ~~364~~434,~~185~~164.8860 0.00 R 32027NHT1 RES 0.00000% 0.00 0.00 0.00 Totals ~~852~~836,~~168~~012,~~587~~827.1030 4,~~852~~835,~~922~~272.5367 1619,~~155~~142,~~759~~960.8197

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~295~~286,~~483~~718,~~390~~364.5548 89,~~397~~176,~~447~~240.8846 0.00 A-2 0.00 ~~107~~100,~~724~~612,~~579~~450.5616 57,~~885~~250,~~606~~375.7394 0.00 A-3 0.00 184,000,000.00 ~~237~~253,~~666~~000.6700 0.00 A-4 0.00 30,836,000.00 4446,~~343~~767.8893 0.00 A-5 0.00 2120,~~544~~122,~~915~~490.9103 1,~~176~~449,~~925~~895.9165 0.00 A-6 0.00 4645,~~972~~129,~~989~~609.4179 1,~~318~~908,~~923~~750.3236 0.00 M-1 0.00 26,374,000.00 3941,~~744~~758.1583 0.00 M-2 0.00 24,176,000.00 3739,~~472~~286.8000 0.00 M-3 0.00 15,385,000.00 2425,~~509~~641.1667 0.00 M-4 0.00 10,989,000.00 2021,~~818~~520.0513 0.00 M-5 0.00 15,385,000.00 3031,~~470~~411.8504 0.00 M-6 0.00 9,670,000.00 21,~~233~~757.7150 0.00 M-7 0.00 12,308,000.00 3132,~~530~~052.7008 0.00 M-8 0.00 9,670,000.00 2526,~~813~~189.5358 0.00 M-9 0.00 8,791,000.00 31,~~794~~867.1238 0.00 B 0.00 10,549,000.00 43,~~602~~514.5363 0.00 C 0.00 6,153,851.87 3,~~276~~144,~~592~~039.4786 0.00 P 0.00 100.00 ~~364~~434,~~185~~164.8860 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~836~~816,~~012~~869,~~827~~866.3033 2123,~~008~~978,~~682~~233.3464 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 314,835,000.00 ~~303~~295,483,~~612~~390.1055 ~~144~~141,~~427~~568.1971 78,~~855~~623,~~794~~457.36 0.00 0.00 A-2 125,000,000.00 ~~113~~107,~~474~~724,~~363~~579.7756 ~~100~~99,~~088~~305.5562 57,~~649~~012,~~695~~823.6777 0.00 0.00 A-3 184,000,000.00 184,000,000.00 0.00 0.00 0.00 0.00 A-4 30,836,000.00 30,836,000.00 0.00 0.00 0.00 0.00 A-5 25,000,000.00 2221,~~694~~544,~~872~~915.7591 2019,~~017~~861.7112 1,~~129~~402,~~939~~564.1375 0.00 0.00 A-6 50,000,000.00 4846,~~228~~972,~~786~~989.6141 1716,~~666~~819.88 1,~~238~~826,~~130~~559.3274 0.00 0.00 M-1 26,374,000.00 26,374,000.00 0.00 0.00 0.00 0.00 M-2 24,176,000.00 24,176,000.00 0.00 0.00 0.00 0.00 M-3 15,385,000.00 15,385,000.00 0.00 0.00 0.00 0.00 M-4 10,989,000.00 10,989,000.00 0.00 0.00 0.00 0.00 M-5 15,385,000.00 15,385,000.00 0.00 0.00 0.00 0.00 M-6 9,670,000.00 9,670,000.00 0.00 0.00 0.00 0.00 M-7 12,308,000.00 12,308,000.00 0.00 0.00 0.00 0.00 M-8 9,670,000.00 9,670,000.00 0.00 0.00 0.00 0.00 M-9 8,791,000.00 8,791,000.00 0.00 0.00 0.00 0.00 B 10,549,000.00 10,549,000.00 0.00 0.00 0.00 0.00 C 6,153,595.34 6,153,851.87 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 879,121,695.34 ~~852~~836,~~168~~012,~~587~~827.1030 ~~282~~277,~~200~~555.33 1518,~~873~~865,~~559~~405.4862 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 8,~~000~~765,~~221~~026.5507 ~~295~~286,~~483~~718,~~390~~364.5548 0.~~93853412~~91069406 8,~~000~~765,~~221~~026.5507 A-2 57,~~749~~112,~~784~~129.2240 ~~107~~100,~~724~~612,~~579~~450.5616 0.~~86179664~~80489960 57,~~749~~112,~~784~~129.2240 A-3 0.00 184,000,000.00 1.00000000 0.00 A-4 0.00 30,836,000.00 1.00000000 0.00 A-5 1,~~149~~422,~~956~~425.8488 2120,~~544~~122,~~915~~490.9103 0.~~86179664~~80489960 1,~~149~~422,~~956~~425.8488 A-6 1,~~255~~843,~~797~~379.2062 4645,~~972~~129,~~989~~609.4179 0.~~93945979~~90259220 1,~~255~~843,~~797~~379.2062 M-1 0.00 26,374,000.00 1.00000000 0.00 M-2 0.00 24,176,000.00 1.00000000 0.00 M-3 0.00 15,385,000.00 1.00000000 0.00 M-4 0.00 10,989,000.00 1.00000000 0.00 M-5 0.00 15,385,000.00 1.00000000 0.00 M-6 0.00 9,670,000.00 1.00000000 0.00 M-7 0.00 12,308,000.00 1.00000000 0.00 M-8 0.00 9,670,000.00 1.00000000 0.00 M-9 0.00 8,791,000.00 1.00000000 0.00 B 0.00 10,549,000.00 1.00000000 0.00 C 0.00 6,153,851.87 1.00004169 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 1619,~~155~~142,~~759~~960.8197 ~~836~~816,~~012~~869,~~827~~866.3033 0.~~95096371~~92918861 1619,~~155~~142,~~759~~960.8197

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 314,835,000.00 ~~963~~938.~~94496196~~53412279 0.~~45873931~~44966001 2427.~~95209986~~39040246 0.00000000 A-2 125,000,000.00 ~~907~~861.~~79491016~~79663648 0.~~80070840~~79444496 4556.~~19756536~~10259016 0.00000000 A-3 184,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 30,836,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-5 25,000,000.00 ~~907~~861.~~79491000~~79663640 0.~~80070840~~79444480 4556.~~19756520~~10259000 0.00000000 A-6 50,000,000.00 ~~964~~939.~~57573220~~45978820 0.~~35333760~~33639760 2436.~~76260640~~53119480 0.00000000 M-1 26,374,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 24,176,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 15,385,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 10,989,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 15,385,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 9,670,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-7 12,308,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-8 9,670,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-9 8,791,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 10,549,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 6,153,595.34 1000.04168782 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Clases are per $1,000 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 2527.~~41083917~~84006248 ~~938~~910.~~53412279~~69406032 0.~~93853412~~91069406 2527.~~41083917~~84006248 A-2 0.00000000 4556.~~99827376~~89703520 ~~861~~804.~~79663648~~89960128 0.~~86179664~~80489960 4556.~~99827376~~89703520 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-5 0.00000000 4556.~~99827360~~89703520 ~~861~~804.~~79663640~~89960120 0.~~86179664~~80489960 4556.~~99827360~~89703520 A-6 0.00000000 2536.~~11594400~~86759240 ~~939~~902.~~45978820~~59219580 0.~~93945979~~90259220 2536.~~11594400~~86759240 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 0.00000000 0.00000000 1,000.04168782 1.00004169 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 314,835,000.00 1.~~52000~~67000% ~~303~~295,483,~~612~~390.1055 ~~397~~411,~~226~~214.3339 0.00 0.00 A-2 125,000,000.00 1.~~39000~~54000% ~~113~~107,~~474~~724,~~363~~579.7756 ~~135~~138,~~822~~246.5154 0.00 0.00 A-3 184,000,000.00 1.~~50000~~65000% 184,000,000.00 ~~237~~253,~~666~~000.6700 0.00 0.00 A-4 30,836,000.00 1.~~67000~~82000% 30,836,000.00 4446,~~343~~767.8893 0.00 0.00 A-5 25,000,000.00 1.~~38000~~53000% 2221,~~694~~544,~~872~~915.7591 2627,~~969~~469.0777 0.00 0.00 A-6 50,000,000.00 1.~~52000~~67000% 4846,~~228~~972,~~786~~989.6141 6365,~~126~~370.1274 0.00 0.00 M-1 26,374,000.00 1.~~75000~~90000% 26,374,000.00 3941,~~744~~758.1583 0.00 0.00 M-2 24,176,000.00 1.~~80000~~95000% 24,176,000.00 3739,~~472~~286.8000 0.00 0.00 M-3 15,385,000.00 12.~~85000~~00000% 15,385,000.00 2425,~~509~~641.1667 0.00 0.00 M-4 10,989,000.00 2.~~20000~~35000% 10,989,000.00 2021,~~818~~520.0513 0.00 0.00 M-5 15,385,000.00 2.~~30000~~45000% 15,385,000.00 3031,~~470~~411.8504 0.00 0.00 M-6 9,670,000.00 2.~~55000~~70000% 9,670,000.00 21,~~233~~757.7150 0.00 0.00 M-7 12,308,000.00 23.~~97500~~12500% 12,308,000.00 3132,~~530~~052.7008 0.00 0.00 M-8 9,670,000.00 3.~~10000~~25000% 9,670,000.00 2526,~~813~~189.5358 0.00 0.00 M-9 8,791,000.00 4.~~20000~~35000% 8,791,000.00 31,~~794~~867.1238 0.00 0.00 B 10,549,000.00 4.~~80000~~95000% 10,549,000.00 43,~~602~~514.5363 0.00 0.00 C 6,153,595.34 0.00000% 6,153,851.87 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 879,121,695.34 1,~~212~~257,~~144~~068.1821 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~397~~411,~~226~~214.3339 0.00 ~~295~~286,~~483~~718,~~390~~364.5548 A-2 0.00 0.00 ~~135~~138,~~822~~246.5154 0.00 ~~107~~100,~~724~~612,~~579~~450.5616 A-3 0.00 0.00 ~~237~~253,~~666~~000.6700 0.00 184,000,000.00 A-4 0.00 0.00 4446,~~343~~767.8893 0.00 30,836,000.00 A-5 0.00 0.00 2627,~~969~~469.0777 0.00 2120,~~544~~122,~~915~~490.9103 A-6 0.00 0.00 6365,~~126~~370.1274 0.00 4645,~~972~~129,~~989~~609.4179 M-1 0.00 0.00 3941,~~744~~758.1583 0.00 26,374,000.00 M-2 0.00 0.00 3739,~~472~~286.8000 0.00 24,176,000.00 M-3 0.00 0.00 2425,~~509~~641.1667 0.00 15,385,000.00 M-4 0.00 0.00 2021,~~818~~520.0513 0.00 10,989,000.00 M-5 0.00 0.00 3031,~~470~~411.8504 0.00 15,385,000.00 M-6 0.00 0.00 21,~~233~~757.7150 0.00 9,670,000.00 M-7 0.00 0.00 3132,~~530~~052.7008 0.00 12,308,000.00 M-8 0.00 0.00 2526,~~813~~189.5358 0.00 9,670,000.00 M-9 0.00 0.00 31,~~794~~867.1238 0.00 8,791,000.00 B 0.00 0.00 43,~~602~~514.5363 0.00 10,549,000.00 C 0.00 0.00 3,~~276~~144,~~592~~039.4786 0.00 6,153,851.87 P 0.00 0.00 ~~364~~434,~~185~~164.8860 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 4,~~852~~835,~~922~~272.5367 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 314,835,000.00 1.~~52000~~67000% ~~963~~938.~~94496196~~53412279 1.~~26169686~~30612667 0.00000000 0.00000000 A-2 125,000,000.00 1.~~39000~~54000% ~~907~~861.~~79491016~~79663648 1.~~08658008~~10597232 0.00000000 0.00000000 A-3 184,000,000.00 1.~~50000~~65000% 1000.00000000 1.~~29166668~~37500000 0.00000000 0.00000000 A-4 30,836,000.00 1.~~67000~~82000% 1000.00000000 1.~~43805552~~51666656 0.00000000 0.00000000 A-5 25,000,000.00 1.~~38000~~53000% ~~907~~861.~~79491000~~79663640 1.~~07876280~~09879080 0.00000000 0.00000000 A-6 50,000,000.00 1.~~52000~~67000% ~~964~~939.~~57573220~~45978820 1.~~26252240~~30741480 0.00000000 0.00000000 M-1 26,374,000.00 1.~~75000~~90000% 1000.00000000 1.~~50694434~~58333321 0.00000000 0.00000000 M-2 24,176,000.00 1.~~80000~~95000% 1000.00000000 1.~~55000000~~62500000 0.00000000 0.00000000 M-3 15,385,000.00 12.~~85000~~00000% 1000.00000000 1.~~59305557~~66666688 0.00000000 0.00000000 M-4 10,989,000.00 2.~~20000~~35000% 1000.00000000 1.~~89444444~~95833379 0.00000000 0.00000000 M-5 15,385,000.00 2.~~30000~~45000% 1000.00000000 12.~~98055574~~04166656 0.00000000 0.00000000 M-6 9,670,000.00 2.~~55000~~70000% 1000.00000000 2.~~19583351~~25000000 0.00000000 0.00000000 M-7 12,308,000.00 23.~~97500~~12500% 1000.00000000 2.~~56180533~~60416640 0.00000000 0.00000000 M-8 9,670,000.00 3.~~10000~~25000% 1000.00000000 2.~~66944467~~70833299 0.00000000 0.00000000 M-9 8,791,000.00 4.~~20000~~35000% 1000.00000000 3.~~61666705~~62500057 0.00000000 0.00000000 B 10,549,000.00 4.~~80000~~95000% 1000.00000000 4.~~13333302~~12500047 0.00000000 0.00000000 C 6,153,595.34 0.00000% 1000.04168782 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 1.~~26169686~~30612667 0.00000000 ~~938~~910.~~53412279~~69406032 A-2 0.00000000 0.00000000 1.~~08658008~~10597232 0.00000000 ~~861~~804.~~79663648~~89960128 A-3 0.00000000 0.00000000 1.~~29166668~~37500000 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 1.~~43805552~~51666656 0.00000000 1000.00000000 A-5 0.00000000 0.00000000 1.~~07876280~~09879080 0.00000000 ~~861~~804.~~79663640~~89960120 A-6 0.00000000 0.00000000 1.~~26252240~~30741480 0.00000000 ~~939~~902.~~45978820~~59219580 M-1 0.00000000 0.00000000 1.~~50694434~~58333321 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 1.~~55000000~~62500000 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 1.~~59305557~~66666688 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 1.~~89444444~~95833379 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 12.~~98055574~~04166656 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 2.~~19583351~~25000000 0.00000000 1000.00000000 M-7 0.00000000 0.00000000 2.~~56180533~~60416640 0.00000000 1000.00000000 M-8 0.00000000 0.00000000 2.~~66944467~~70833299 0.00000000 1000.00000000 M-9 0.00000000 0.00000000 3.~~61666705~~62500057 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.~~13333302~~12500047 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~532~~510.~~46797831~~92730124 0.00000000 1000.04168782 P 0.00000000 0.00000000 ~~3641858~~4341646.~~80000000~~00000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2123,~~003~~896,~~472~~239.6348 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~364~~434,~~185~~164.8860 Total Deposits 2124,~~367~~330,~~658~~404.5108 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~358~~352,~~976~~170.1744 Payment of Interest and Principal 2123,~~008~~978,~~682~~233.3464 Total Withdrawals (Pool Distribution Amount) 2124,~~367~~330,~~658~~404.5108 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~355~~348,~~070~~338.3975 Trustee Fee 3,~~905~~831.7869 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~358~~352,~~976~~170.1744

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 50 0 0 50 ~~485,473~~0.3900 0.00 0.00 ~~485,473~~0.3900 30 Days 8044 0 0 0 8044 106,~~464~~874,~~155~~034.7746 0.00 0.00 0.00 106,~~464~~874,~~155~~034.7746 60 Days 953 0 0 0 953 17,~~965~~336,~~883~~257.3246 0.00 0.00 0.00 17,~~965~~336,~~883~~257.3246 90 Days 14 0 0 0 14 62556,~~143~~019.0624 0.00 0.00 0.00 62556,~~143~~019.0624 120 Days 03 0 0 0 03 0876,201.0087 0.00 0.00 0.00 0876,201.0087 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 90104 50 0 0 95104 1215,~~492~~642,~~182~~513.1503 ~~485,473~~0.3900 0.00 0.00 1215,~~977~~642,~~655~~513.5403 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.~~121832~~000000% 0.000000% 0.000000% 0.~~121832~~000000% 0.~~058070~~000000% 0.000000% 0.000000% 0.~~058070~~000000% 30 Days 1.~~949318~~096710% 0.000000% 0.000000% 0.000000% 1.~~949318~~096710% 10.~~251674~~841509% 0.000000% 0.000000% 0.000000% 10.~~251674~~841509% 60 Days 01.~~219298~~321037% 0.000000% 0.000000% 0.000000% 01.~~219298~~321037% 0.~~235150~~898094% 0.000000% 0.000000% 0.000000% 0.~~235150~~898094% 90 Days 0.~~024366~~099701% 0.000000% 0.000000% 0.000000% 0.~~024366~~099701% 0.~~007433~~068067% 0.000000% 0.000000% 0.000000% 0.~~007433~~068067% 120 Days 0.~~000000~~074776% 0.000000% 0.000000% 0.000000% 0.~~000000~~074776% 0.~~000000~~107263% 0.000000% 0.000000% 0.000000% 0.~~000000~~107263% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.~~192982~~592223% 0.~~121832~~000000% 0.000000% 0.000000% 2.~~314815~~592223% 1.~~494257~~914933% 0.~~058070~~000000% 0.000000% 0.000000% 1.~~552327~~914933%

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.~~826698~~822872% Weighted Average Net Coupon 6.~~326698~~322872% Weighted Average Pass-Through Rate 6.~~321198~~317372% Weighted Average Maturity(Stepdown Calculation ) ~~352~~351 Beginning Scheduled Collateral Loan Count 4,~~174~~104 Number Of Loans Paid In Full 7092 Ending Scheduled Collateral Loan Count 4,~~104~~012 Beginning Scheduled Collateral Balance ~~852~~836,~~168~~012,~~587~~827.1130 Ending Scheduled Collateral Balance ~~836~~816,~~012~~869,~~827~~866.3033 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2004 ~~836~~816,~~012~~869,~~827~~866.3033 Monthly P &I Constant 5,~~130~~030,~~114~~895.8189 Special Servicing Fee 0.00 Prepayment Penalties ~~364~~434,~~185~~164.8860 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~836~~816,~~012~~869,~~827~~866.3033 Scheduled Principal ~~282~~277,~~200~~555.3334 Unscheduled Principal 1518,~~873~~865,~~559~~405.4863

Miscellaneous Reporting Overcollaterized Deficiency Amount 0.00 Overcollaterized Increase Amount 0.00 Overcollaterized Reduction Amount 0.00 Overcollaterized Amount 6,153,851.87 Specified Overcollaterized Amount 6,153,851.87 Stepdown Date Not in ~~Stepdown~~Trigger Trigger Event Not in ~~Trigger~~Stepdown

Filing Compare · First Franklin Mortgage Loan Trust 2004-FF2