8-K 1 wfh04001.txt AUGUST 8K 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 WELLS FARGO HOME EQUITY TRUST Mortgage Pass-Through Certificates, Series 2004-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106925-30 54-2150460 Pooling and Servicing Agreement) (Commission 54-2150461 (State or other File Number) 54-2150462 jurisdiction 54-2150463 of Incorporation) 54-2150464 54-2150465 IRS EIN 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 WELLS FARGO HOME EQUITY TRUST, Mortgage Pass-Through Certificates, Series 2004-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-1 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. WELLS FARGO HOME EQUITY TRUST Mortgage Pass-Through Certificates, Series 2004-1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Master Servicer By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 9/1/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-1 Trust, relating to the August 25, 2004 distribution. EX-99.1

~~UNITED~~Wells ~~STATES~~Fargo Home Equity Trust Mortgage Pass-Through Certificates Record Date: 7/31/2004 Distribution Date: 8/25/2004 WFHET Series: 2004-1 Contact: Customer Service - SecuritiesLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 846-8130 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution 1-A 86359BMW8 SEN 1.75000% 816,523,026.84 1,190,762.75 20,624,147.33 2-A1 86359BMX6 SEN 1.75000% 270,527,039.61 394,518.60 7,596,937.71 2-A2 86359BMY4 SEN 1.69000% 25,150,696.03 35,420.56 706,281.60 A-IO 86359BMZ1 SEN_IO 6.00000% 0.00 1,813,280.00 0.00 A-SIO 86359BNA5 SEN_IO 0.00000% 0.00 0.00 0.00 A3 86359BNB3 SEN_SUB 1.82000% 14,103,000.00 21,389.55 0.00 M1 86359BND9 SUB 1.95000% 51,712,000.00 84,032.00 0.00 M2 86359BNE7 SUB 2.08000% 23,505,000.00 40,742.00 0.00 M3 86359BNF4 SUB 2.40000% 33,579,000.00 67,158.00 0.00 M4 86359BNG2 SUB 2.60000% 16,790,000.00 36,378.33 0.00 M5 86359BNH0 SUB 3.15000% 13,432,000.00 35,259.00 0.00 M6 86359BNJ6 SUB 3.85000% 13,432,000.00 43,094.33 0.00 B 86359BNK3 SUB 3.95000% 4,030,000.00 13,265.42 0.00 X1 WFH0401X1 SUB 0.00000% 4,028,295.74 3,930,599.19 0.00 X2 WFH0401X2 SUB 0.00000% 0.00 0.00 0.00 P WFH04001P PP Prem 0.00000% 100.00 519,248.04 0.00 R-I WFH0401R1 RES 0.00000% 0.00 0.00 0.00 R-II WFH0401R2 RES 0.00000% 0.00 0.00 0.00 R-III WFH0401R3 RES 0.00000% 0.00 0.00 0.00 R-IV WFH0401R4 RES 0.00000% 0.00 0.00 0.00 R-V WFH0401R5 RES 0.00000% 0.00 0.00 0.00 R-VI WFH0401R6 RES 0.00000% 0.00 0.00 0.00 Totals 1,286,812,158.22 8,225,147.77 28,927,366.64

~~SECURITIES~~Certificateholder ~~AND~~Distribution ~~EXCHANGE~~Summary ~~COMMISSION~~(continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A 0.00 795,898,879.51 21,814,910.08 0.00 2-A1 0.00 262,930,101.90 7,991,456.31 0.00 2-A2 0.00 24,444,414.43 741,702.16 0.00 A-IO 0.00 0.00 1,813,280.00 0.00 A-SIO 0.00 0.00 0.00 0.00 A3 0.00 14,103,000.00 21,389.55 0.00 M1 0.00 51,712,000.00 84,032.00 0.00 M2 0.00 23,505,000.00 40,742.00 0.00 M3 0.00 33,579,000.00 67,158.00 0.00 M4 0.00 16,790,000.00 36,378.33 0.00 M5 0.00 13,432,000.00 35,259.00 0.00 M6 0.00 13,432,000.00 43,094.33 0.00 B 0.00 4,030,000.00 13,265.42 0.00 X1 0.00 4,028,295.74 3,930,599.19 0.00 X2 0.00 0.00 0.00 0.00 P 0.00 100.00 519,248.04 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 R-V 0.00 0.00 0.00 0.00 R-VI 0.00 0.00 0.00 0.00 Totals 0.00 1,257,884,791.58 37,152,514.41 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

~~Washington~~Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) 1-A 852,750,000.00 D816,523,026.C84 0. ~~20549~~00 20,624,147.33 0.00 0.00 2-A1 288,945,000.00 270,527,039.61 0.00 7,596,937.71 0.00 0.00 2-A2 26,863,000.00 25,150,696.03 0.00 706,281.60 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 A-SIO 0.00 0.00 0.00 0.00 0.00 0.00 M1 51,712,000.00 51,712,000.00 0.00 0.00 0.00 0.00 M2 23,505,000.00 23,505,000.00 0.00 0.00 0.00 0.00 M3 33,579,000.00 33,579,000.00 0.00 0.00 0.00 0.00 M4 16,790,000.00 16,790,000.00 0.00 0.00 0.00 0.00 M5 13,432,000.00 13,432,000.00 0.00 0.00 0.00 0.00 M6 13,432,000.00 13,432,000.00 0.00 0.00 0.00 0.00 B 4,030,000.00 4,030,000.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-I 0.00 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 0.00 0.00 R-V 0.00 0.00 0.00 0.00 0.00 0.00 R-VI 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,325,038,100.00 1,268,680,862.48 0.00 28,927,366.64 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.

~~FORM~~Principal 8Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution 1-KA 20,624,147.33 795,898,879.51 0.93333202 20,624,147.33 2-A1 7,596,937.71 262,930,101.90 0.90996592 7,596,937.71 2-A2 706,281.60 24,444,414.43 0.90996592 706,281.60 A-IO 0.00 0.00 0.00000000 0.00 A-SIO 0.00 0.00 0.00000000 0.00 M1 0.00 51,712,000.00 1.00000000 0.00 M2 0.00 23,505,000.00 1.00000000 0.00 M3 0.00 33,579,000.00 1.00000000 0.00 M4 0.00 16,790,000.00 1.00000000 0.00 M5 0.00 13,432,000.00 1.00000000 0.00 M6 0.00 13,432,000.00 1.00000000 0.00 B 0.00 4,030,000.00 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 R-IV 0.00 0.00 0.00000000 0.00 R-V 0.00 0.00 0.00000000 0.00 R-VI 0.00 0.00 0.00000000 0.00 Totals 28,927,366.64 1,239,753,495.84 0.93563611 28,927,366.64

~~CURRENT~~Principal ~~REPORT~~Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A 852,750,000.00 957.51747504 0.00000000 24.18545568 0.00000000 2-A1 288,945,000.00 936.25790240 0.00000000 26.29198536 0.00000000 2-A2 26,863,000.00 936.25790232 0.00000000 26.29198526 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-SIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A3 14,103,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 51,712,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 23,505,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 33,579,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 16,790,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 13,432,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 13,432,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 4,030,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X1 4,028,295.74 1.00000000 0.00000000 0.00000000 0.00000000 X2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-V 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-VI 0.00 0.00000000 0.00000000 0.00000000 0.00000000 Per $1,000 denomination. Class X1 per $1 denomination.

~~PURSUANT~~Principal TODistribution ~~SECTION~~Factors 13Statement OR(continued) 15Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (d3) OFReduction ~~THE~~Balance Percentage Distribution 1-A 0.00000000 24.18545568 933.33201936 0.93333202 24.18545568 2-A1 0.00000000 26.29198536 909.96591704 0.90996592 26.29198536 2-A2 0.00000000 26.29198526 909.96591706 0.90996592 26.29198526 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X1 0.00000000 0.00000000 1.00000000 1.00000000 0.00000000 X2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-V 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-VI 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.

~~SECURITIES~~Interest ~~EXCHANGE~~Distribution ~~ACT~~Statement OFBeginning ~~1934~~Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall 1-A 852,750,000.00 1.75000% 816,523,026.84 1,190,762.75 0.00 0.00 2-A1 288,945,000.00 1.75000% 270,527,039.61 394,518.60 0.00 0.00 2-A2 26,863,000.00 1.69000% 25,150,696.03 35,420.56 0.00 0.00 A-IO 0.00 6.00000% 362,656,000.00 1,813,280.00 0.00 0.00 A-SIO 0.00 0.00000% 1,282,783,763.22 0.00 0.00 0.00 A3 14,103,000.00 1.82000% 14,103,000.00 21,389.55 0.00 0.00 M1 51,712,000.00 1.95000% 51,712,000.00 84,032.00 0.00 0.00 M2 23,505,000.00 2.08000% 23,505,000.00 40,742.00 0.00 0.00 M3 33,579,000.00 2.40000% 33,579,000.00 67,158.00 0.00 0.00 M4 16,790,000.00 2.60000% 16,790,000.00 36,378.33 0.00 0.00 M5 13,432,000.00 3.15000% 13,432,000.00 35,259.00 0.00 0.00 M6 13,432,000.00 3.85000% 13,432,000.00 43,094.33 0.00 0.00 B 4,030,000.00 3.95000% 4,030,000.00 13,265.42 0.00 0.00 X1 4,028,295.74 0.00000% 4,028,295.74 0.00 0.00 0.00 X2 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-I 0.00 0.00000% 0.00 0.00 0.00 0.00 R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 R-III 0.00 0.00000% 0.00 0.00 0.00 0.00 R-IV 0.00 0.00000% 0.00 0.00 0.00 0.00 R-V 0.00 0.00000% 0.00 0.00 0.00 0.00 R-VI 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,343,169,395.74 3,775,300.54 0.00 0.00

~~Date~~Interest ofDistribution ~~Report~~Statement (~~Date~~continued) ofRemaining ~~earliest~~Ending ~~event~~Non-Supported ~~reported~~Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance 1-A 0.00 0.00 1,190,762.75 0.00 795,898,879.51 2-A1 0.00 0.00 394,518.60 0.00 262,930,101.90 2-A2 0.00 0.00 35,420.56 0.00 24,444,414.43 A-IO 0.00 0.00 1,813,280.00 0.00 362,656,000.00 A-SIO 0.00 0.00 0.00 0.00 1,253,856,396.58 A3 0.00 0.00 21,389.55 0.00 14,103,000.00 M1 0.00 0.00 84,032.00 0.00 51,712,000.00 M2 0.00 0.00 40,742.00 0.00 23,505,000.00 M3 0.00 0.00 67,158.00 0.00 33,579,000.00 M4 0.00 0.00 36,378.33 0.00 16,790,000.00 M5 0.00 0.00 35,259.00 0.00 13,432,000.00 M6 0.00 0.00 43,094.33 0.00 13,432,000.00 B 0.00 0.00 13,265.42 0.00 4,030,000.00 X1 0.00 0.00 3,930,599.19 0.00 4,028,295.74 X2 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 519,248.04 0.00 100.00 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 0.00 R-V 0.00 0.00 0.00 0.00 0.00 R-VI 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 8,225,147.77 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.

~~March~~Interest 30Distribution 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 1-A 852,750,000.00 ~~2004~~1.75000% 957.51747504 1.39637965 0.00000000 0.00000000 2-A1 288,945,000.00 1.75000% 936.25790240 1.36537611 0.00000000 0.00000000 2-A2 26,863,000.00 1.69000% 936.25790232 1.31856308 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 A-SIO 0.00 0.00000% 957.91538196 0.00000000 0.00000000 0.00000000 A3 14,103,000.00 1.82000% 1000.00000000 1.51666667 0.00000000 0.00000000 M1 51,712,000.00 1.95000% 1000.00000000 1.62500000 0.00000000 0.00000000 M2 23,505,000.00 2.08000% 1000.00000000 1.73333333 0.00000000 0.00000000 M3 33,579,000.00 2.40000% 1000.00000000 2.00000000 0.00000000 0.00000000 M4 16,790,000.00 2.60000% 1000.00000000 2.16666647 0.00000000 0.00000000 M5 13,432,000.00 3.15000% 1000.00000000 2.62500000 0.00000000 0.00000000 M6 13,432,000.00 3.85000% 1000.00000000 3.20833309 0.00000000 0.00000000 B 4,030,000.00 3.95000% 1000.00000000 3.29166749 0.00000000 0.00000000 X1 4,028,295.74 0.00000% 1.00000000 0.00000000 0.00000000 0.00000000 X2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-V 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-VI 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 Per $1,000 denomination. Class X1 per $1 denomination.

~~STRUCTURED~~Interest ~~ASSET~~Distribution ~~SECURITIES~~Factors ~~CORPORATION~~Statement (ascontinued) ~~Depositor~~Remaining ~~under~~Ending ~~the~~Non-Supported ~~Trust~~Total ~~Agreement~~Unpaid ~~dated~~Certificate/ asInterest ofRealized ~~March~~Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance 1,-A ~~2004,~~0.00000000 ~~providing~~0.00000000 ~~for~~1.39637965 ~~the~~0.00000000 ~~issuance~~933.33201936 of2-A1 ~~Wells~~0.00000000 ~~Fargo~~0.00000000 ~~Home~~1.36537611 ~~Equity~~0.00000000 ~~Trust~~909.96591704 ~~Mortgage~~2-A2 ~~Pass~~0.00000000 0.00000000 1.31856308 0.00000000 909.96591706 A-~~Through~~IO ~~Certificates,~~0.00000000 ~~Series~~0.00000000 ~~2004~~5.00000000 0.00000000 1000.00000000 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 936.31394744 A3 0.00000000 0.00000000 1.51666667 0.00000000 1000.00000000 M1 0.00000000 0.00000000 1.62500000 0.00000000 1000.00000000 M2 0.00000000 0.00000000 1.73333333 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.00000000 0.00000000 1000.00000000 M4 0.00000000 0.00000000 2.16666647 0.00000000 1000.00000000 M5 0.00000000 0.00000000 2.62500000 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.20833309 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.29166749 0.00000000 1000.00000000 X1 0.00000000 0.00000000 0.97574742 0.00000000 1.00000000 X2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 5192480.40000000 0.00000000 1000.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-V 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-VI 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.

~~Structured~~CERTIFICATEHOLDER ~~Asset~~ACCOUNT ~~Securities~~STATEMENT ~~Corporation~~ CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 36,751,740.81 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 134,281.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 36,886,021.81 Withdrawals Reimbursement for Servicer Advances 90,273.32 Payment of Service Fee 16,085.15 Payment of Interest and Principal 36,779,663.34 Total Withdrawals (Pool Distribution Amount) 36,886,021.81 Ending Balance 0.00

~~(Exact~~PREPAYMENT/CURTAILMENT ~~Name~~INTEREST ofSHORTFALL ~~Registrant~~Total asPrepayment/Curtailment ~~Specified~~Interest inShortfall ~~its~~0.00 ~~Charter)~~Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

Delaware	333-106925	74-2440850
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

745 Seventh Avenue, 7th Floor New York, New York		10019
(Address of Principal Executive Offices)		(Zip Code)

~~Registrant’s~~LOAN ~~telephone~~STATUS ~~number~~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 15 0 0 15 1,914,307.06 ~~including~~0.00 ~~area~~0.00 ~~code: (212)~~1,914,307.06 ~~526~~30 Days 69 3 0 0 72 9,276,913.56 188,160.26 0.00 0.00 9,465,073.82 60 Days 12 3 28 0 43 1,447,833.21 205,684.23 3,138,670.53 0.00 4,792,187.97 90 Days 0 3 23 0 26 0.00 502,121.38 2,341,095.95 0.00 2,843,217.33 120 Days 0 0 9 0 9 0.00 0.00 1,421,439.28 0.00 1,421,439.28 150 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 81 24 60 0 165 10,724,746.77 2,810,272.93 6,901,205.76 0.00 20,436,225.46 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-~~7000~~29 Days 0.161117% 0.000000% 0.000000% 0.161117% 0.152061% 0.000000% 0.000000% 0.152061% 30 Days 0.741139% 0.032223% 0.000000% 0.000000% 0.773362% 0.736901% 0.014946% 0.000000% 0.000000% 0.751847% 60 Days 0.128894% 0.032223% 0.300752% 0.000000% 0.461869% 0.115007% 0.016338% 0.249317% 0.000000% 0.380662% 90 Days 0.000000% 0.032223% 0.247046% 0.000000% 0.279270% 0.000000% 0.039885% 0.185962% 0.000000% 0.225848% 120 Days 0.000000% 0.000000% 0.096670% 0.000000% 0.096670% 0.000000% 0.000000% 0.112910% 0.000000% 0.112910% 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 0.870032% 0.257787% 0.644468% 0.000000% 1.772288% 0.851908% 0.223231% 0.548189% 0.000000% 1.623328%

~~None~~ Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Pool 1- Fixed 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 4 0 0 4 346,386.39 0.00 0.00 346,386.39 30 Days 4 0 0 0 4 272,929.43 0.00 0.00 0.00 272,929.43 60 Days 0 1 3 0 4 0.00 57,759.33 218,620.11 0.00 276,379.44 90 Days 0 0 2 0 2 0.00 0.00 140,702.12 0.00 140,702.12 120 Days 0 0 1 0 1 0.00 0.00 212,000.00 0.00 212,000.00 150 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 4 5 6 0 15 272,929.43 404,145.72 571,322.23 0.00 1,248,397.38 0-29 Days 0.169205% 0.000000% 0.000000% 0.169205% 0.119935% 0.000000% 0.000000% 0.119935% 30 Days 0.169205% 0.000000% 0.000000% 0.000000% 0.169205% 0.094501% 0.000000% 0.000000% 0.000000% 0.094501% 60 Days 0.000000% 0.042301% 0.126904% 0.000000% 0.169205% 0.000000% 0.019999% 0.075696% 0.000000% 0.095695% 90 Days 0.000000% 0.000000% 0.084602% 0.000000% 0.084602% 0.000000% 0.000000% 0.048718% 0.000000% 0.048718% 120 Days 0.000000% 0.000000% 0.042301% 0.000000% 0.042301% 0.000000% 0.000000% 0.073404% 0.000000% 0.073404% 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 0.169205% 0.211506% 0.253807% 0.000000% 0.634518% 0.094501% 0.139934% 0.197818% 0.000000% 0.432253% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Pool 1 - ARM 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 9 0 0 9 1,133,390.31 0.00 0.00 1,133,390.31 30 Days 47 3 0 0 50 6,253,608.83 188,160.26 0.00 0.00 6,441,769.09 60 Days 9 2 17 0 28 863,029.53 147,924.90 1,715,747.81 0.00 2,726,702.24 90 Days 0 3 14 0 17 0.00 502,121.38 1,390,514.21 0.00 1,892,635.59 120 Days 0 0 4 0 4 0.00 0.00 596,536.30 0.00 596,536.30 150 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 56 17 35 0 108 7,116,638.36 1,971,596.85 3,702,798.32 0.00 12,791,033.53 0-29 Days 0.185071% 0.000000% 0.000000% 0.185071% 0.178413% 0.000000% 0.000000% 0.178413% 30 Days 0.966482% 0.061690% 0.000000% 0.000000% 1.028172% 0.984412% 0.029619% 0.000000% 0.000000% 1.014031% 60 Days 0.185071% 0.041127% 0.349578% 0.000000% 0.575776% 0.135854% 0.023286% 0.270084% 0.000000% 0.429224% 90 Days 0.000000% 0.061690% 0.287888% 0.000000% 0.349578% 0.000000% 0.079041% 0.218888% 0.000000% 0.297929% 120 Days 0.000000% 0.000000% 0.082254% 0.000000% 0.082254% 0.000000% 0.000000% 0.093904% 0.000000% 0.093904% 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 1.151553% 0.349578% 0.719720% 0.000000% 2.220851% 1.120265% 0.310359% 0.582876% 0.000000% 2.013500% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Pool 2 - Fixed 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 3 0 0 0 3 181,693.13 0.00 0.00 0.00 181,693.13 60 Days 0 0 1 0 1 0.00 0.00 54,948.47 0.00 54,948.47 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 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 3 0 1 0 4 181,693.13 0.00 54,948.47 0.00 236,641.60 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.429799% 0.000000% 0.000000% 0.000000% 0.429799% 0.172155% 0.000000% 0.000000% 0.000000% 0.172155% 60 Days 0.000000% 0.000000% 0.143266% 0.000000% 0.143266% 0.000000% 0.000000% 0.052064% 0.000000% 0.052064% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.429799% 0.000000% 0.143266% 0.000000% 0.573066% 0.172155% 0.000000% 0.052064% 0.000000% 0.224219% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Pool 2 - ARM 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 2 0 0 2 434,530.36 0.00 0.00 434,530.36 30 Days 15 0 0 0 15 2,568,682.17 0.00 0.00 0.00 2,568,682.17 60 Days 3 0 7 0 10 584,803.68 0.00 1,149,354.14 0.00 1,734,157.82 90 Days 0 0 7 0 7 0.00 0.00 809,879.62 0.00 809,879.62 120 Days 0 0 4 0 4 0.00 0.00 612,902.98 0.00 612,902.98 150 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 18 2 18 0 38 3,153,485.85 434,530.36 2,572,136.74 0.00 6,160,152.95 0-29 Days 0.144404% 0.000000% 0.000000% 0.144404% 0.189509% 0.000000% 0.000000% 0.189509% 30 Days 1.083032% 0.000000% 0.000000% 0.000000% 1.083032% 1.120263% 0.000000% 0.000000% 0.000000% 1.120263% 60 Days 0.216606% 0.000000% 0.505415% 0.000000% 0.722022% 0.255047% 0.000000% 0.501261% 0.000000% 0.756307% 90 Days 0.000000% 0.000000% 0.505415% 0.000000% 0.505415% 0.000000% 0.000000% 0.353208% 0.000000% 0.353208% 120 Days 0.000000% 0.000000% 0.288809% 0.000000% 0.288809% 0.000000% 0.000000% 0.267301% 0.000000% 0.267301% 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 1.299639% 0.144404% 1.299639% 0.000000% 2.743682% 1.375310% 0.189509% 1.121770% 0.000000% 2.686588%

~~(Former~~OTHER ~~Name~~INFORMATION orCurrent ~~Former~~Period ~~Address,~~Class ifA ~~Changed~~Insufficient ~~Since~~Funds ~~Last~~0.00 ~~Report)~~Principal Balance of Contaminated Properties 0.00 Periodic Advance 134,281.00

~~Item~~COLLATERAL 5STATEMENT Collateral Description Fixed Mixed & ARM & Balloon Weighted Average Gross Coupon 0. ~~Other~~000000% ~~Events~~Weighted Average Net Coupon 6.853440% Weighted Average Pass-Through Rate 0.000000% Weighted Average Maturity(Stepdown Calculation ) 337 Beginning Scheduled Collateral Loan Count 9,475 Number Of Loans Paid In Full 165 Ending Scheduled Collateral Loan Count 9,310 Beginning Scheduled Collateral Balance 1,286,812,158.22 Ending Scheduled Collateral Balance 1,257,884,791.58 Ending Actual Collateral Balance at 31-Jul-2004 1,258,908,825.77 Monthly P &I Constant 9,067,885.44 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 1,257,884,791.58 Scheduled Principal 1,182,472.21 Unscheduled Principal 27,744,894.43 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 4,028,395.74 Overcollateralized Amount 4,028,395.74 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 3,557,855.80

~~The~~Miscellaneous ~~Registrant~~Reporting ~~registered~~LIBOR ~~issuances~~Rate ~~of its Wells Fargo Home Equity Trust Mortgage Pass-Through Certificates, Series 2004-~~1 ~~on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by a Registration Statement on Form S-3 (Registration File No~~.090000% ~~333-106925)~~Initial ~~(the~~Cap ~~“Registration~~Payment ~~Statement”). Pursuant to the Registration Statement~~372, the Registrant issued $1,339,141,000 aggregate principal amount of Class 1-A, Class 2-A1, Class 2-A2, Class A-IO, Class A-SIO, Class A3, Class M1, Class M2, Class M3, Class M4, Class M5, Class M6 and Class B Certificates of its Wells Fargo Home Equity Trust Mortgage Pass-Through Certificates, Series 2004-1 on March 30, 2004851. ~~This~~08 ~~Current~~Supplementary ~~Report~~Cap onPayment Form 8-K is being filed to satisfy an undertaking, contained in the definitive Prospectus dated March 25, 2004, as supplemented by the Prospectus Supplement dated March 26, 2004 (the “Prospectus Supplement”), to file a copy of the Trust Agreement (as defined below) and other operative agreements executed in connection with the issuance of the Certificates, a form of which was filed as an exhibit to the Registration Statement0.00

~~The~~Group ~~Certificates~~Level ~~were~~Collateral ~~issued~~Statement ~~pursuant~~Group toPool a1- ~~Trust~~Fixed ~~Agreement~~Pool ~~(the~~1 ~~“Trust~~- ~~Agreement”),~~ARM ~~attached~~Pool ~~hereto~~2 as- ~~Exhibit~~Fixed ~~4.1,~~Collateral ~~dated~~Description asMixed ofFixed ~~March~~Mixed 1,ARM ~~2004,~~Mixed ~~among~~Fixed ~~Structured~~Weighted ~~Asset~~Average ~~Securities~~Coupon ~~Corporation,~~Rate as7.032703 ~~depositor,~~7.498217 ~~Wells~~6.995144 ~~Fargo~~Weighted ~~Bank,~~Average NNet Rate 6.A532703 6.,998217 as6.495144 ~~master~~Weighted ~~servicer,~~Average ~~Wells~~Maturity ~~Fargo~~327 ~~Home~~353 ~~Mortgage~~335 Beginning Loan Count 2,389 ~~Inc.~~4,964 as705 ~~seller,~~Loans ~~The~~Paid ~~Murrayhill~~In ~~Company,~~Full as25 ~~credit~~101 ~~risk~~7 ~~manager~~Ending Loan Count 2,364 ~~and~~4,863 ~~LaSalle~~698 ~~Bank~~Beginning ~~National~~Scheduled ~~Association~~Balance 292,482,461.80 as651,462,578.70 ~~trustee~~106,440,418. ~~The~~90 ~~“Certificates”~~Ending ~~consist~~scheduled ofBalance ~~the~~288,525,645.25 ~~following~~634,795,247.92 ~~classes: Class 1-A~~105,444,334.43 ~~Class~~Record ~~2-A1,~~Date ~~Class~~07/31/2004 ~~2-A2,~~07/31/2004 ~~Class~~07/31/2004 ~~A-IO,~~Principal ~~Class~~And ~~A-SIO,~~Interest ~~Class~~Constant A32,071,282.94 ~~Class~~4,588,395.27 M1739,707.74 ~~Class~~Scheduled M2Principal 357,164.44 ~~Class~~517,722.01 M3119,236.06 ~~Class~~Unscheduled M4Principal 3,599,652.11 ~~Class~~16,149,608.77 M5876,848.41 ~~Class~~Scheduled M6Interest 1,714,118.50 ~~Class~~4,070,673.26 B620,471.68 ~~Class~~Servicing PFees 121,867.69 ~~Class~~271,442.76 X144,350.17 ~~Class~~Master X2Servicing ~~and~~Fees ~~Class~~0.00 R0. ~~The~~00 ~~Certificates~~0.00 ~~evidence~~Trustee ~~all~~Fee of0.00 ~~the~~0.00 ~~beneficial~~0.00 ~~ownership~~FRY ~~interest~~Amount in0.00 a0.00 ~~trust~~0.00 ~~fund~~Special ~~(the~~Hazard ~~“Trust~~Fee ~~Fund”)~~0.00 ~~that~~0.00 ~~consists~~0.00 ~~primarily~~Other ofFee ~~two~~0.00 ~~pools~~0.00 of0.00 ~~certain~~Pool ~~conventional,~~Insurance ~~first~~Fee ~~lien,~~0.00 ~~adjustable~~0.00 ~~and~~0.00 ~~fixed~~Spread ~~rate,~~Fee ~~fully~~1 ~~amortizing~~0.00 ~~and~~0.00 ~~balloon,~~0.00 ~~residential~~Spread ~~mortgage~~Fee ~~loans~~2 ~~(the~~0.00 ~~“Mortgage~~0.00 ~~Loans”)~~0.00 ~~with~~Spread anFee ~~aggregate~~3 ~~outstanding~~0.00 ~~principal~~0.00 ~~balance~~0.00 ofNet ~~approximately~~Interest $1,~~343~~592,~~169~~250.81 3,~~396~~799,230.50 as576,121.51 ofRealized ~~March~~Loss 1,Amount ~~2004,~~0.00 ~~together~~0.00 ~~with~~0.00 ~~certain~~Cumulative ~~other~~Realized ~~assets~~Loss 0. ~~Capitalized~~00 ~~terms~~0.00 ~~used~~0.00 ~~herein~~Percentage ~~and~~of ~~not~~Cumulative ~~otherwise~~Losses ~~defined~~0.0000 ~~shall~~0.0000 ~~have~~0.0000 ~~the~~Prepayment ~~meanings~~Penalties ~~assigned~~0.00 to0.00 ~~them~~0.00 inSpecial ~~the~~Servicing ~~Trust~~Fee ~~Agreement~~0.00 0.00 0.00

~~Item~~Group Level Collateral Statement Group Pool 2 - ARM Total Collateral Description Mixed ARM Mixed & ARM & Balloon Weighted Average Coupon Rate 7. ~~Financial~~512602 ~~Statements;~~0.000000 ~~Pro~~Weighted ~~Forma~~Average ~~Financial~~Net ~~Information~~Rate ~~and~~7.012602 ~~Exhibits~~6.853440 Weighted Average Maturity 353 337 Beginning Loan Count 1,417 9,475 Loans Paid In Full 32 165 Ending Loan Count 1,385 9,310 Beginning Scheduled Balance 236,426,698.82 1,286,812,158.22 Ending scheduled Balance 229,119,563.98 1,257,884,791.58 Record Date 07/31/2004 07/31/2004 Principal And Interest Constant 1,668,499.49 9,067,885.44 Scheduled Principal 188,349.70 1,182,472.21 Unscheduled Principal 7,118,785.14 27,744,894.43 Scheduled Interest 1,480,149.79 7,885,413.23 Servicing Fees 98,511.14 536,171.76 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 1,381,638.65 7,349,241.47 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

4.1

Trust Agreement dated as of March 1, 2004, among Structured Asset Securities Corporation, as depositor, Wells Fargo Bank, N.A., as master servicer, Wells Fargo Home Mortgage, Inc., as seller, The Murrayhill Company, as credit risk manager and LaSalle Bank National Association, as trustee.

99.1

Mortgage Loan Purchase and Assignment Agreement dated as of March 1, 2004, between Wells Fargo Home Mortgage, Inc., as seller, and Structured Asset Securities Corporation, as purchaser.

99.2

Securitization Servicing Agreement dated as of March 1, 2004, by and among Wells Fargo Home Mortgage, Inc., as seller, Wells Fargo Bank, N.A., as master servicer, and Wells Fargo Home Mortgage, Inc., as servicer.

SIGNATURES

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

STRUCTURED ASSET SECURITIES

CORPORATION

By: /s/ Ellen V. Kiernan

Name: Ellen V. Kiernan

Title: Senior Vice President

Dated: March 30, 2004

EXHIBIT INDEX

Exhibit No.

Description

4.1

Trust Agreement dated as of March 1, 2004, among Structured Asset Securities Corporation, as depositor, Wells Fargo Bank, N.A., as master servicer, Wells Fargo Home Mortgage, Inc., as seller, The Murrayhill Company, as credit risk manager, and LaSalle Bank National Association, as trustee.

99.1

Mortgage Loan Purchase and Assignment Agreement dated as of March 1, 2004, between Wells Fargo Home Mortgage, Inc., as seller, and Structured Asset Securities Corporation, as purchaser.

99.2

Filing Compare · WELLS FARGO HOME EQUITY TRUST MORT PASS THRU CERT SER 2004-1