8-K 1 pps04mh1_nov.txt NOVEMBER 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): November 26, 2004 PARK PLACE SECURITIES, INC. Asset Backed Pass-Through Certificates, Series 2004-MHQ1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-118640-03 54-2162640 Pooling and Servicing Agreement) (Commission 54-2162641 (State or other File Number) 54-2162642 jurisdiction 54-2162643 of Incorporation) 54-2162644 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 November 26, 2004 a distribution was made to holders of PARK PLACE SECURITIES, INC., Asset Backed Pass-Through Certificates, Series 2004-MHQ1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2004-MHQ1 Trust, relating to the November 26, 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 Pass-Through Certificates, Series 2004-MHQ1 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: 11/30/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2004-MHQ1 Trust, relating to the November 26, 2004 distribution. EX-99.1

~~Delaware~~Park ~~333~~Place Securities, Inc Mortgage Pass-~~118640~~Through 34Certificates Record Date: 10/31/2004 Distribution Date: 11/26/2004 PPS Series: 2004-~~1993512~~MH1 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 70069FDE4 SEN 2.24000% 1,600,000,000.00 3,683,555.56 11,749,607.54 A-2 70069FCS4 SEN 2.09000% 241,000,000.00 517,681.39 3,884,327.25 A-3 70069FCT2 SEN 2.27000% 295,900,000.00 690,351.14 0.00 A-4 70069FCU9 SEN 2.49000% 61,100,000.00 156,365.08 0.00 M-1 70069FCV7 MEZ 2.61000% 110,600,000.00 296,684.50 0.00 M-2 70069FCW5 MEZ 2.66000% 99,400,000.00 271,748.56 0.00 M-3 70069FCX3 MEZ 2.76000% 56,000,000.00 158,853.33 0.00 M-4 70069FCY1 MEZ 3.11000% 49,000,000.00 156,623.06 0.00 M-5 70069FCZ8 MEZ 3.16000% 42,000,000.00 136,406.67 0.00 M-6 70069FDA2 MEZ 3.31000% 35,000,000.00 119,068.06 0.00 M-~~---~~7 70069FDB0 MEZ 3.81000% 35,000,000.00 137,054.17 0.00 M-~~---------~~8 ~~(State~~70069FDC8 orMEZ ~~Other~~4.01000% ~~Jurisdiction~~28,000,000.00 ~~(Commission~~115,398.89 ~~File~~0.00 ~~Number)~~M-9 (I70069FDD6 MEZ 5.R41000% 33,600,000.S00 186,825.33 ~~Employer~~0.00 ~~Identification~~M-10 of70069FDF1 ~~Incorporation)~~MEZ ~~Number)~~4.41000% ~~1100~~28,000,000.00 ~~Town~~126,910.00 &0.00 ~~Country~~P ~~Road~~PPS04WH1P SEN 0.00000% 100.00 202,958.85 ~~Suite~~0.00 ~~1100~~CE ~~Orange~~PP04WH1CE SUB 0.00000% 85,399,900.00 ~~California~~6,132,568.38 ~~92868~~0.00 ~~------------------~~R ~~-----~~PPS04WH1R ~~(Address~~RES of0.00000% ~~Principal~~0.00 ~~Executive~~0.00 ~~Offices)~~0.00 ~~(Zip~~Totals ~~Code)~~2,800,000,000.00 13,089,052.97 15,633,934.79

~~----------------------------------------~~Certificateholder ~~--------------------------------------~~Distribution ~~--------------------------------------~~Summary ~~Item 601~~(acontinued) ofCurrent ~~Regulation~~Ending SCumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-K1 ~~Exhibit~~0.00 No1,588,250,392.46 ~~Exhibit~~15,433,163.10 No0.00 ~~Description~~A-2 0.00 237,115,672.75 4,402,008.64 0.00 A-3 0.00 295,900,000.00 690,351.14 0.00 A-4 0.00 61,100,000.00 156,365.08 0.00 M-1 0.00 110,600,000.00 296,684.50 0.00 M-2 0.00 99,400,000.00 271,748.56 0.00 M-3 0.00 56,000,000.00 158,853.33 0.00 M-4 0.00 49,000,000.00 156,623.06 0.00 M-5 0.00 42,000,000.00 136,406.67 0.00 M-6 0.00 35,000,000.00 119,068.06 0.00 M-7 0.00 35,000,000.00 137,054.17 0.00 M-~~------------------------------~~8 0.00 28,000,000.00 115,398.89 0.00 M-~~-------------------------------------~~9 0.00 33,600,000.00 186,825.33 0.00 M-~~-------------------------------------~~10 ~~Opinion~~0.00 ~~and~~28,000,000.00 ~~Consent~~126,910.00 of0.00 ~~Thacher~~P 10.00 5100.100 202,958.85 80.100 CE 0.00 85,400,000.00 236,132,568.138 ~~Proffitt~~0.00 &R ~~Wood~~0.00 ~~LLP~~0.00 ~~----------------------------------------~~0.00 ~~--------------------------------------~~0.00 ~~--------------------------------------~~Totals 0.00 2,784,366,165.21 28,722,987.76 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 ~~Item~~Original ~~601~~Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (a1) ofA-1 ~~Regulation~~1,600,000,000.00 S1,600,000,000.00 0.00 11,749,607.54 0.00 0.00 A-K2 ~~Exhibit~~241,000,000.00 ~~Number~~241,000,000.00 ~~Exhibit~~0.00 No3,884,327.25 ~~Description~~0.00 0.00 A-3 295,900,000.00 295,900,000.00 0.00 0.00 0.00 0.00 A-4 61,100,000.00 61,100,000.00 0.00 0.00 0.00 0.00 M-1 110,600,000.00 110,600,000.00 0.00 0.00 0.00 0.00 M-2 99,400,000.00 99,400,000.00 0.00 0.00 0.00 0.00 M-3 56,000,000.00 56,000,000.00 0.00 0.00 0.00 0.00 M-4 49,000,000.00 49,000,000.00 0.00 0.00 0.00 0.00 M-5 42,000,000.00 42,000,000.00 0.00 0.00 0.00 0.00 M-6 35,000,000.00 35,000,000.00 0.00 0.00 0.00 0.00 M-7 35,000,000.00 35,000,000.00 0.00 0.00 0.00 0.00 M-~~------------------------------~~8 28,000,000.00 28,000,000.00 0.00 0.00 0.00 0.00 M-~~-------------------------------------~~9 33,600,000.00 33,600,000.00 0.00 0.00 0.00 0.00 M-~~-------------------------------------~~10 128,000,000.00 528,000,000.100 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 CE 85,399,900.00 885,399,900.100 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 2,800,000,000.00 232,800,000,000.00 0.00 15,633,934.79 0.00 0.00 (1) ~~Opinion~~Amount ~~and~~Does ~~Consent~~Not ofInclude ~~Counsel~~Excess ~~----------------------------------------~~Special ~~--------------------------------------~~Hazard, ~~--------------------------------------~~Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

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