8-K 1 pps04wc1_sep.txt SEPTEMBER 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): September 27, 2004 PARK PLACE SECURITIES, INC. Asset Backed Certificates, Series 2004-WC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-115827-01 Pooling and Servicing Agreement) (Commission 54-6636576 (State or other File Number) 54-6636577 jurisdiction 54-6636578 of Incorporation) 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 September 27, 2004 a distribution was made to holders of PARK PLACE SECURITIES, INC., Asset Backed Certificates, Series 2004-WC1 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-WC1 Trust, relating to the September 27, 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. PARK PLACE SECURITIES, INC. Asset Backed Certificates, Series 2004-WC1 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: 10/1/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-WC1 Trust, relating to the September 27, 2004 distribution. EX-99.1

~~Delaware~~Park ~~333~~Place Securities, Inc Mortgage Pass-~~115827~~Through 34Certificates Record Date: 8/31/2004 Distribution Date: 9/27/2004 PPS Series: 2004-~~1993512~~WC1 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 ~~(State~~Certificate orInterest ~~Other~~Principal ~~Jurisdiction~~Class ~~(Commission~~CUSIP (IDescription Rate Balance Distribution Distribution A1 70069FAM9 SEN 1.R91000% 594,414,000.S00 1,639,922.18 ~~Employer~~620,757.07 ofA2 ~~Incorporation)~~70069FAA5 ~~File~~SEN ~~Number)~~1.92000% ~~Identification~~594,413,000.00 ~~Number)~~1,648,505.39 ~~1100~~630,537.16 ~~Town~~M1 &70069FAB3 ~~Country~~MEZ ~~Road~~2.17000% 103,308,000.00 ~~Suite~~323,813.19 ~~1100~~0.00 ~~Orange~~M2 70069FAD9 MEZ 2.22000% 40,697,000.00 ~~California~~130,501.71 ~~92868~~0.00 ~~------------------~~M3 ~~-----~~70069FAE7 ~~(Address~~MEZ of2.79000% ~~Principal~~78,264,000.00 ~~Executive~~315,403.92 ~~Offices)~~0.00 ~~(Zip~~M4 ~~Code)~~70069FAF4 MEZ 2.99000% 17,218,000.00 74,362.63 0.00 M5 70069FAG3 MEZ 3.44000% 18,783,000.00 93,330.64 0.00 M6 70069FAH0 MEZ 3.59000% 17,218,000.00 89,284.90 0.00 M7 70069FAJ6 MEZ 4.04000% 17,218,000.00 100,476.60 0.00 M8 70069FAK3 MEZ 5.04000% 17,218,000.00 125,347.04 0.00 M9 70069FAL1 MEZ 5.04000% 15,653,000.00 113,953.84 0.00 CE PPS04WC1C SUB 0.00000% 50,925,095.82 4,301,186.97 0.00 P PPS04WC1P SEN 0.00000% 100.00 0.00 0.00 R 70069FKF7 SEN 0.00000% 0.00 0.00 0.00 Totals 1,565,329,195.82 8,956,089.01 1,251,294.23

~~Sequentially~~Certificateholder ~~Exhibit~~Distribution NoSummary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~Description~~593,793,242.93 ~~Numbered~~2,260,679.25 ~~Page~~0.00 ~~-----------~~A2 ~~-----------~~0.00 ~~-------------~~593,782,462.84 992,279,042.155 ~~Characteristics~~0.00 ofM1 ~~the~~0.00 ~~Mortgage~~103,308,000.00 ~~Pool~~323,813.19 as0.00 ofM2 ~~August~~0.00 140,697,000.00 P130,501.71 ~~2004~~0.00 M3 0.00 78,264,000.00 ~~relating~~315,403.92 to0.00 ~~Park~~M4 ~~Place~~0.00 ~~Securities~~17,218,000.00 ~~Inc~~74,362.63 0.00 M5 0.00 18,783,000.00 ~~Asset-Backed~~93,330.64 ~~Pass-Through~~0.00 ~~Certificates~~M6 0.00 17,218,000.00 ~~Series~~89,284.90 ~~2004-WCW1~~0.00 M7 0.00 17,218,000.00 100,476.60 0.00 M8 0.00 17,218,000.00 125,347.04 0.00 M9 0.00 15,653,000.00 113,953.84 0.00 CE 0.00 50,873,198.86 4,301,186.97 0.00 P 0.00 100.00 0.00 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 1,564,026,004.63 10,207,383.24 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Class M-1 273,194,195.82 17.45282501% 273,142,298.86 17.46405098% 6.605261% 0.000000% Class M-2 232,497,195.82 14.85292490% 232,445,298.86 14.86198427% 2.602067% 0.000000% Class M-3 154,233,195.82 9.85308260% 154,181,298.86 9.85797540% 5.004009% 0.000000% Class M-4 137,015,195.82 8.75312241% 136,963,298.86 8.75709857% 1.100877% 0.000000% Class CE 100.00 0.00000639% 100.00 0.00000639% 3.252708% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000006% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

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