8-K 1 mlm04sl1_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 MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2004-SL1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-112231-13 54-2157856 Pooling and Servicing Agreement) (Commission 54-2157857 (State or other File Number) 54-2157858 jurisdiction 54-2157859 of Incorporation) 54-2157860 54-6636402 54-6636403 IRS EIN c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, Maryland 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 MERRILL LYNCH MORTGAGE INVESTORS, INC., Mortgage Loan Asset-Backed Certificates, Series 2004-SL1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2004-SL1 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. MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2004-SL1 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 Mortgage Loan Asset-Backed Certificates, Series 2004-SL1 Trust, relating to the September 27, 2004 distribution. EX-99.1

Merrill Lynch Mortgage Investors, Inc. Mortgage Loan Asset-Backed Certificates Record Date: 78/31/042004 Distribution Date: 89/2527/042004 MLM Series: 2004-SL1 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 R MLM04SL1R RES 1.~~71000~~87500% 0.00 0.00 0.00 A 59020UEG6 SEN 1.~~71000~~87500% ~~131~~125,~~281~~009,~~381~~378.7602 ~~187~~214,~~075~~859.9787 67,~~272~~042,~~003~~135.7410 M-1 59020UEL5 MEZ 2.~~07000~~23500% 20,502,000.00 3542,~~365~~003.9547 0.00 M-2 59020UEM3 MEZ 2.~~70000~~86500% 16,504,000.00 3743,~~134~~343.0063 0.00 B-1 59020UEN1 SUB 3.~~60000~~76500% 13,839,000.00 4147,~~517~~761.0085 0.00 B-2 59020UEP6 SUB 5.~~70000~~86500% 3,588,000.00 1719,~~043~~289.0099 0.00 B-3 59020UEQ4 SUB 6.~~20000~~36500% 12,198,000.00 6371,~~023~~170.0025 0.00 OC SEN 0.00000% 12,~~275~~332,~~142~~640.2957 0.00 0.00 P MLM04SL1P SEN 0.00000% 0.00 ~~122~~127,~~117~~683.2096 0.00 S 59020UEJ0 SEN 0.~~55000~~38500% 0.00 9067,~~709~~633.8408 0.00 X 59020UEK7 SEN 3.00000% 0.00 179,393.38 0.00 Totals ~~199~~193,~~187~~973,~~524~~018.0559 ~~773~~813,~~379~~139.3448 67,~~272~~042,~~003~~135.7410

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses R 0.00 0.00 0.00 0.00 A 0.00 ~~125~~117,~~009~~967,~~378~~242.0292 67,~~459~~256,~~079~~994.7197 0.00 M-1 0.00 20,502,000.00 3542,~~365~~003.9547 0.00 M-2 0.00 16,504,000.00 3743,~~134~~343.0063 0.00 B-1 0.00 13,839,000.00 4147,~~517~~761.0085 0.00 B-2 0.00 3,588,000.00 1719,~~043~~289.0099 0.00 B-3 0.00 12,198,000.00 6371,~~023~~170.0025 0.00 OC 0.00 23,~~332~~310,~~640~~093.5789 0.00 0.00 P 0.00 0.00 ~~122~~127,~~117~~683.2096 0.00 S 0.00 0.00 9067,~~709~~633.8408 0.00 X 0.00 0.00 179,393.38 0.00 Totals 0.00 ~~193~~187,~~973~~908,~~018~~336.5981 7,~~045~~855,~~383~~274.0858 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) R 100.00 0.00 0.00 0.00 0.00 0.00 100.00 0.00 0.00 0.00 0.00 0.00 A 138,390,000.00 ~~131~~125,~~281~~009,~~381~~378.7602 0.00 67,~~272~~042,~~003~~135.7410 0.00 0.00 M-1 20,502,000.00 20,502,000.00 0.00 0.00 0.00 0.00 M-2 16,504,000.00 16,504,000.00 0.00 0.00 0.00 0.00 B-1 13,839,000.00 13,839,000.00 0.00 0.00 0.00 0.00 B-2 3,588,000.00 3,588,000.00 0.00 0.00 0.00 0.00 B-3 12,198,000.00 12,198,000.00 0.00 0.00 0.00 0.00 OC 758.50 12,~~275~~332,~~142~~640.2957 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 S 0.00 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 Totals 205,021,958.50 ~~199~~193,~~187~~973,~~524~~018.0559 0.00 67,~~272~~042,~~003~~135.7410 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 R 0.00 0.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 A 67,~~272~~042,~~003~~135.7410 ~~125~~117,~~009~~967,~~378~~242.0292 0.~~90331222~~85242606 67,~~272~~042,~~003~~135.7410 M-1 0.00 20,502,000.00 1.00000000 0.00 M-2 0.00 16,504,000.00 1.00000000 0.00 B-1 0.00 13,839,000.00 1.00000000 0.00 B-2 0.00 3,588,000.00 1.00000000 0.00 B-3 0.00 12,198,000.00 1.00000000 0.00 OC 0.00 23,~~332~~310,~~640~~093.5789 34,~~075~~363.~~33364535~~99985498 0.00 P 0.00 0.00 0.00000000 0.00 S 0.00 0.00 0.00000000 0.00 X 0.00 0.00 0.00000000 0.00 Totals 67,~~272~~042,~~003~~135.7410 ~~193~~187,~~973~~908,~~018~~336.5981 0.~~94610850~~91652786 67,~~272~~042,~~003~~135.7410

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A 138,390,000.00 ~~948~~903.~~63343999~~31221924 0.00000000 4550.~~32122075~~88615579 0.00000000 M-1 20,502,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 16,504,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 13,839,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 3,588,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 12,198,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 OC 758.50 ~~1681136~~3075333.~~83586025~~64535267 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A 0.00000000 4550.~~32122075~~88615579 ~~903~~852.~~31221924~~42606344 0.~~90331222~~85242606 4550.~~32122075~~88615579 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 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 OC 0.00000000 0.00000000 34,~~075~~363,~~333~~999.~~64535267~~85497693 ~~3075~~4363.~~33364535~~99985498 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 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 R 100.00 1.~~71000~~87500% 0.00 0.00 0.00 0.00 A 138,390,000.00 1.~~71000~~87500% ~~131~~125,~~281~~009,~~381~~378.7602 ~~187~~214,~~075~~859.9787 0.00 0.00 M-1 20,502,000.00 2.~~07000~~23500% 20,502,000.00 3542,~~365~~003.9547 0.00 0.00 M-2 16,504,000.00 2.~~70000~~86500% 16,504,000.00 3743,~~134~~343.0063 0.00 0.00 B-1 13,839,000.00 3.~~60000~~76500% 13,839,000.00 4147,~~517~~761.0085 0.00 0.00 B-2 3,588,000.00 5.~~70000~~86500% 3,588,000.00 1719,~~043~~289.0099 0.00 0.00 B-3 12,198,000.00 6.~~20000~~36500% 12,198,000.00 6371,~~023~~170.0025 0.00 0.00 OC 758.50 0.00000% 12,~~275~~332,~~142~~640.2957 0.00 0.00 0.00 P 0.00 0.00000% 0.01 0.00 0.00 0.00 S 0.00 0.~~55000~~38500% ~~197~~191,~~912~~640,~~381~~378.7602 9067,~~709~~633.8408 0.00 0.00 X 0.00 3.00000% 71,757,350.00 179,393.38 0.00 0.00 Totals 205,021,858.50 ~~651~~685,~~262~~455.1452 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 R 0.00 0.00 0.00 0.00 0.00 A 0.00 0.00 ~~187~~214,~~075~~859.9787 0.00 ~~125~~117,~~009~~967,~~378~~242.0292 M-1 0.00 0.00 3542,~~365~~003.9547 0.00 20,502,000.00 M-2 0.00 0.00 3743,~~134~~343.0063 0.00 16,504,000.00 B-1 0.00 0.00 4147,~~517~~761.0085 0.00 13,839,000.00 B-2 0.00 0.00 1719,~~043~~289.0099 0.00 3,588,000.00 B-3 0.00 0.00 6371,~~023~~170.0025 0.00 12,198,000.00 OC 0.00 0.00 0.00 0.00 23,~~332~~310,~~640~~093.5789 P 0.00 0.00 ~~122~~127,~~117~~683.2096 0.00 0.0100 S 0.00 0.00 9067,~~709~~633.8408 0.00 ~~191~~184,~~628~~598,~~459~~242.5392 X 0.00 0.00 179,393.38 0.00 71,757,350.00 Totals 0.00 0.00 ~~773~~813,~~379~~139.3448 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 R 100.00 1.~~71000~~87500% 0.00000000 0.00000000 0.00000000 0.00000000 A 138,390,000.00 1.~~71000~~87500% ~~948~~903.~~63343999~~31221924 1.~~35180266~~55256789 0.00000000 0.00000000 M-1 20,502,000.00 2.~~07000~~23500% 1000.00000000 12.~~72500000~~04874988 0.00000000 0.00000000 M-2 16,504,000.00 2.~~70000~~86500% 1000.00000000 2.~~25000000~~62625000 0.00000000 0.00000000 B-1 13,839,000.00 3.~~60000~~76500% 1000.00000000 3.~~00000000~~45125009 0.00000000 0.00000000 B-2 3,588,000.00 5.~~70000~~86500% 1000.00000000 45.~~75000000~~37625139 0.00000000 0.00000000 B-3 12,198,000.00 6.~~20000~~36500% 1000.00000000 5.~~16666667~~83458354 0.00000000 0.00000000 OC 758.50 0.00000% ~~1681136~~3075333.~~83586025~~64535267 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.~~55000~~38500% ~~965~~934.~~32736529~~73535891 0.~~44244170~~32988367 0.00000000 0.00000000 X 0.00 3.00000% 1000.00000000 2.50000007 0.00000000 0.00000000 (5) All Classes are per $1,000 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A 0.00000000 0.00000000 1.~~35180266~~55256789 0.00000000 ~~903~~852.~~31221924~~42606344 M-1 0.00000000 0.00000000 12.~~72500000~~04874988 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~25000000~~62625000 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 3.~~00000000~~45125009 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 45.~~75000000~~37625139 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 5.~~16666667~~83458354 0.00000000 1000.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 ~~3075333~~4363999.~~64535267~~85497693 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00000000 0.00000000 0.~~44244170~~32988367 0.00000000 ~~934~~900.~~67722589~~38699899 X 0.00000000 0.00000000 2.50000007 0.00000000 1000.00000000 (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 67,~~987~~820,~~117~~071.9124 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 5860,~~103~~717.3786 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0(11,040.0014) Prepayment Penalties ~~122~~127,~~117~~683.2096 Total Deposits 7,~~167~~997,~~338~~432.4892 Withdrawals Reimbursement for Servicer Advances 3558,~~640~~103.8137 Payment of Service Fee 8684,~~314~~054.5997 Payment of Interest and Principal 7,~~045~~855,~~383~~274.0858 Total Withdrawals (Pool Distribution Amount) 7,~~167~~997,~~338~~432.4892 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 8684,~~314~~054.5997 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 8684,~~314~~054.5997

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 2221 0 0 2221 ~~756~~732,~~667~~691.5295 0.00 0.00 ~~756~~732,~~667~~691.5295 30 Days 9373 2 0 0 9575 32,~~280~~607,~~754~~458.9856 4760,~~213~~987.5864 0.00 0.00 32,~~327~~668,~~968~~446.5620 60 Days 5137 13 0 0 5240 21,~~080~~371,~~904~~613.2902 1154,~~529~~149.4114 0.00 0.00 21,~~092~~425,~~433~~762.7016 90 Days 1336 01 03 0 1340 ~~270~~1,~~288~~540,778.3164 011,529.0041 0180,291.0024 0.00 ~~270~~1,~~288~~732,599.3129 120 Days 012 0 01 0 013 0256,040.0061 0.00 014,247.0070 0.00 0270,288.0031 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 ~~157~~158 2527 04 0 ~~182~~189 5,~~631~~775,~~947~~890.5883 ~~815~~859,~~410~~358.5114 0194,538.0094 0.00 6,~~447~~829,~~358~~787.0991 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.~~407709~~398482% 0.000000% 0.000000% 0.~~407709~~398482% 0.~~389727~~389549% 0.000000% 0.000000% 0.~~389727~~389549% 30 Days 1.~~723499~~385199% 0.~~037064~~037951% 0.000000% 0.000000% 1.~~760563~~423150% 1.~~689777~~386303% 0.~~024318~~032425% 0.000000% 0.000000% 1.~~714095~~418728% 60 Days 0.~~945145~~702087% 0.~~018532~~056926% 0.000000% 0.000000% 0.~~963677~~759013% 10.~~071785~~729243% 0.~~005938~~028789% 0.000000% 0.000000% 10.~~077723~~758032% 90 Days 0.~~240919~~683112% 0.~~000000~~018975% 0.~~000000~~056926% 0.000000% 0.~~240919~~759013% 0.~~139214~~819183% 0.~~000000~~006130% 0.~~000000~~095855% 0.000000% 0.~~139214~~921168% 120 Days 0.~~000000~~227704% 0.000000% 0.~~000000~~018975% 0.000000% 0.~~000000~~246679% 0.~~000000~~136129% 0.000000% 0.~~000000~~007575% 0.000000% 0.~~000000~~143704% 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.~~909563~~998102% 0.~~463306~~512334% 0.~~000000~~075901% 0.000000% 3.~~372869~~586338% 23.~~900776~~070857% 0.~~419983~~456893% 0.~~000000~~103430% 0.000000% 3.~~320759~~631181%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 5860,~~103~~717.3786

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 10.~~816226~~807465% Weighted Average Net Coupon 10.~~296226~~287465% Weighted Average Pass-Through Rate 10.~~296226~~287465% Weighted Average Maturity(Stepdown Calculation ) ~~207~~206 Beginning Scheduled Collateral Loan Count 5,~~526~~396 Number Of Loans Paid In Full ~~130~~126 Ending Scheduled Collateral Loan Count 5,~~396~~270 Beginning Scheduled Collateral Balance ~~199~~193,~~187~~973,~~524~~018.0559 Ending Scheduled Collateral Balance ~~193~~187,~~973~~897,~~018~~296.5967 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2004 ~~194~~188,~~153~~087,~~150~~245.6642 Monthly P &I Constant 1,~~998~~947,~~534~~005.3648 Special Servicing Fee 0.00 Prepayment Penalties ~~122~~127,~~117~~683.2096 Realized Loss Amount 011,040.0014 Cumulative Realized Loss 011,040.0014 Scheduled Principal ~~203~~199,~~153~~617.3567 Unscheduled Principal 5,~~011~~876,~~352~~104.1125 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 12,506,281.00 Overcollateralized Amount 23,~~332~~310,~~640~~093.5789 Overcollateralized Deficiency Amount 1110,~~231~~173,~~138~~640.7143 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 1977,~~057,498~~457.2853 Excess Cash Amount 0.00

Miscellaneous Reporting Number of Loans With PPP Passed 6856 Cumulative PPP $~~258~~386,~~775~~459.6763 TRIGGER NO

Filing Compare · MERRILL LYNCH MORTGAGE INVESTORS TRUST, SERIES 2004-SL1