8-K 1 abs04he2_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 ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2004-HE2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-109307-05 54-2151902 Pooling and Servicing Agreement) (Commission 54-2151903 (State or other File Number) 54-2151904 jurisdiction 54-2151905 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 November 26, 2004 a distribution was made to holders of ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates , Series 2004-HE2 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-HE2 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. ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2004-HE2 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: 12/4/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2004-HE2 Trust, relating to the November 26, 2004 distribution. EX-99.1

Asset Backed Securities Corp Home Equity Loan Trust Mortgage Pass-Through Certificates Record Date: 810/31/042004 Distribution Date: 911/2726/042004 ABSC Series: 2004-HE2 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 R 04541GJF0 RES 0.00000% 0.00 0.00 0.00 B-IO 04541GJC7 SUB IO 0.00000% 0.00 0.00 0.00 A-1 04541GHS4 SEN 12.~~95000~~26750% ~~259~~239,~~515~~506,~~529~~431.5654 ~~463~~482,~~884~~738.0151 1211,~~644~~311,~~622~~820.8264 A-2 04541GHT2 SEN 12.~~95000~~26750% ~~216~~200,~~651~~427,~~807~~729.1528 ~~387~~403,~~265~~973.1122 78,~~747~~676,~~119~~389.6265 A-2-A 04541GHU9 SEN 2.~~00500~~32250% 2422,~~072~~269,~~423~~747.0270 4445,~~243~~974.1166 ~~860~~964,~~791~~043.0729 A-3 04541GHV7 SEN 12.~~91500~~23250% ~~155~~140,~~773~~233,~~697~~532.9574 ~~273~~278,~~447~~285.7565 106,~~478~~224,~~424~~551.2776 M-1 04541GHW5 MEZ 2.~~16500~~48250% 56,250,000.00 ~~111~~124,~~632~~125.8100 0.00 M-2 04541GHX3 MEZ 23.~~86500~~18250% 47,250,000.00 ~~124~~133,~~090~~665.3100 0.00 M-3 04541GHY1 MEZ 3.~~06500~~38250% 13,500,000.00 3740,~~929~~590.3800 0.00 M-4 04541GHZ8 MEZ 3.~~31500~~63250% 13,500,000.00 4143,~~023~~590.1300 0.00 M-5-A 04541GJA1 MEZ 3.~~56500~~88250% 7,100,000.00 2324,~~202~~502.2189 0.00 M-5-B 04541GJG8 MEZ 4.~~01500~~33250% 4,150,000.00 15,~~273~~982.7311 0.00 M-6 04541GJB9 MEZ 5.~~11500~~43250% 11,231,000.00 5254,~~659~~233.3525 0.00 X 04541GJD5 SEN OC 0.00000% 22,492,027.66 2,~~937~~563,~~625~~225.8658 0.00 P 04541GJE3 SEN 0.00000% 100.00 ~~551~~503,~~676~~718.5795 0.00 Totals ~~831~~777,~~486~~910,~~585~~568.3492 54,~~063~~714,~~953~~604.3382 3127,~~730~~176,~~957~~805.7834

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 B-IO 0.00 0.00 0.00 0.00 A-1 0.00 ~~246~~228,~~870~~194,~~906~~610.7490 1311,~~108~~794,~~506~~559.8315 0.00 A-2 0.00 ~~208~~191,~~904~~751,~~687~~339.5364 89,~~134~~080,~~384~~362.7387 0.00 A-2-A 0.00 2321,~~211~~305,~~631~~704.9540 ~~905~~1,~~034~~010,017.1895 0.00 A-3 0.00 ~~145~~134,~~295~~008,~~273~~980.6898 106,~~751~~502,~~872~~837.0241 0.00 M-1 0.00 56,250,000.00 ~~111~~124,~~632~~125.8100 0.00 M-2 0.00 47,250,000.00 ~~124~~133,~~090~~665.3100 0.00 M-3 0.00 13,500,000.00 3740,~~929~~590.3800 0.00 M-4 0.00 13,500,000.00 4143,~~023~~590.1300 0.00 M-5-A 0.00 7,100,000.00 2324,~~202~~502.2189 0.00 M-5-B 0.00 4,150,000.00 15,~~273~~982.7311 0.00 M-6 0.00 11,231,000.00 5254,~~659~~233.3525 0.00 X 0.00 22,492,027.66 2,~~937~~563,~~625~~225.8658 0.00 P 0.00 100.00 ~~551~~503,~~676~~718.5795 0.00 Totals 0.00 ~~799~~750,~~755~~733,~~627~~763.5658 3631,~~794~~891,~~911~~410.1116 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 0.00 0.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 A-1 285,000,000.00 ~~259~~239,~~515~~506,~~529~~431.5654 0.00 1211,~~644~~311,~~622~~820.8264 0.00 0.00 A-2 238,500,000.00 ~~216~~200,~~651~~427,~~807~~729.1528 0.00 78,~~747~~676,~~119~~389.6265 0.00 0.00 A-2-A 26,500,000.00 2422,~~072~~269,~~423~~747.0270 0.00 ~~860~~964,~~791~~043.0729 0.00 0.00 A-3 174,200,000.00 ~~155~~140,~~773~~233,~~697~~532.9574 0.00 106,~~478~~224,~~424~~551.2776 0.00 0.00 M-1 56,250,000.00 56,250,000.00 0.00 0.00 0.00 0.00 M-2 47,250,000.00 47,250,000.00 0.00 0.00 0.00 0.00 M-3 13,500,000.00 13,500,000.00 0.00 0.00 0.00 0.00 M-4 13,500,000.00 13,500,000.00 0.00 0.00 0.00 0.00 M-5-A 7,100,000.00 7,100,000.00 0.00 0.00 0.00 0.00 M-5-B 4,150,000.00 4,150,000.00 0.00 0.00 0.00 0.00 M-6 11,231,000.00 11,231,000.00 0.00 0.00 0.00 0.00 X 22,500,106.46 22,492,027.66 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 899,681,206.46 ~~831~~777,~~486~~910,~~585~~568.3492 0.00 3127,~~730~~176,~~957~~805.7834 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 B-IO 0.00 0.00 0.00000000 0.00 A-1 1211,~~644~~311,~~622~~820.8264 ~~246~~228,~~870~~194,~~906~~610.7490 0.~~86621371~~80068285 1211,~~644~~311,~~622~~820.8264 A-2 78,~~747~~676,~~119~~389.6265 ~~208~~191,~~904~~751,~~687~~339.5364 0.~~87591064~~80398885 78,~~747~~676,~~119~~389.6265 A-2-A ~~860~~964,~~791~~043.0729 2321,~~211~~305,~~631~~704.9540 0.~~87591064~~80398885 ~~860~~964,~~791~~043.0729 A-3 106,~~478~~224,~~424~~551.2776 ~~145~~134,~~295~~008,~~273~~980.6898 0.~~83407161~~76928232 106,~~478~~224,~~424~~551.2776 M-1 0.00 56,250,000.00 1.00000000 0.00 M-2 0.00 47,250,000.00 1.00000000 0.00 M-3 0.00 13,500,000.00 1.00000000 0.00 M-4 0.00 13,500,000.00 1.00000000 0.00 M-5-A 0.00 7,100,000.00 1.00000000 0.00 M-5-B 0.00 4,150,000.00 1.00000000 0.00 M-6 0.00 11,231,000.00 1.00000000 0.00 X 0.00 22,492,027.66 0.99964094 0.00 P 0.00 100.00 1.00000000 0.00 Totals 3127,~~730~~176,~~957~~805.7834 ~~799~~750,~~755~~733,~~627~~763.5658 0.~~88893224~~83444420 3127,~~730~~176,~~957~~805.7834

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-1 285,000,000.00 ~~910~~840.~~58080547~~37344400 0.00000000 4439.~~36709761~~69059874 0.00000000 A-2 238,500,000.00 ~~908~~840.~~39332138~~36783765 0.00000000 3236.~~48268184~~37899224 0.00000000 A-2-A 26,500,000.00 ~~908~~840.~~39332151~~36783774 0.00000000 3236.~~48268189~~37899208 0.00000000 A-3 174,200,000.00 ~~894~~805.~~22329478~~01453927 0.00000000 6035.~~15168927~~73221447 0.00000000 M-1 56,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 47,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 13,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 13,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5-A 7,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5-B 4,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 11,231,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 22,500,106.46 999.64094392 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000

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 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 0.00000000 4439.~~36709761~~69059874 ~~866~~800.~~21370786~~68284526 0.~~86621371~~80068285 4439.~~36709761~~69059874 A-2 0.00000000 3236.~~48268184~~37899224 ~~875~~803.~~91063954~~98884545 0.~~87591064~~80398885 3236.~~48268184~~37899224 A-2-A 0.00000000 3236.~~48268189~~37899208 ~~875~~803.~~91063962~~98884528 0.~~87591064~~80398885 3236.~~48268189~~37899208 A-3 0.00000000 6035.~~15168927~~73221447 ~~834~~769.~~07160551~~28232480 0.~~83407161~~76928232 6035.~~15168927~~73221447 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-A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5-B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 999.64094392 0.99964094 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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 0.00 0.00000% 0.00 0.00 0.00 0.00 B-IO 0.00 0.00000% 0.00 0.00 0.00 0.00 A-1 285,000,000.00 12.~~95000~~26750% ~~259~~239,~~515~~506,~~529~~431.5654 ~~463~~482,~~884~~738.0152 0.00 0.00 A-2 238,500,000.00 12.~~95000~~26750% ~~216~~200,~~651~~427,~~807~~729.1528 ~~387~~403,~~265~~973.1122 0.00 0.00 A-2-A 26,500,000.00 2.~~00500~~32250% 2422,~~072~~269,~~423~~747.0270 4445,~~243~~974.1166 0.00 0.00 A-3 174,200,000.00 12.~~91500~~23250% ~~155~~140,~~773~~233,~~697~~532.9574 ~~273~~278,~~447~~285.7565 0.00 0.00 M-1 56,250,000.00 2.~~16500~~48250% 56,250,000.00 ~~111~~124,~~632~~125.8100 0.00 0.00 M-2 47,250,000.00 23.~~86500~~18250% 47,250,000.00 ~~124~~133,~~090~~665.3100 0.00 0.00 M-3 13,500,000.00 3.~~06500~~38250% 13,500,000.00 3740,~~929~~590.3800 0.00 0.00 M-4 13,500,000.00 3.~~31500~~63250% 13,500,000.00 4143,~~023~~590.1300 0.00 0.00 M-5-A 7,100,000.00 3.~~56500~~88250% 7,100,000.00 2324,~~202~~502.2189 0.00 0.00 M-5-B 4,150,000.00 4.~~01500~~33250% 4,150,000.00 15,~~273~~982.7311 0.00 0.00 M-6 11,231,000.00 5.~~11500~~43250% 11,231,000.00 5254,~~659~~233.3525 0.00 0.00 X 22,500,106.46 0.00000% 22,492,027.66 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 899,681,206.46 1,~~574~~647,~~650~~660.9030 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 B-IO 0.00 0.00 0.00 0.00 0.00 A-1 0.00 0.00 ~~463~~482,~~884~~738.0151 0.00 ~~246~~228,~~870~~194,~~906~~610.7490 A-2 0.00 0.00 ~~387~~403,~~265~~973.1122 0.00 ~~208~~191,~~904~~751,~~687~~339.5364 A-2-A 0.00 0.00 4445,~~243~~974.1166 0.00 2321,~~211~~305,~~631~~704.9540 A-3 0.00 0.00 ~~273~~278,~~447~~285.7565 0.00 ~~145~~134,~~295~~008,~~273~~980.6898 M-1 0.00 0.00 ~~111~~124,~~632~~125.8100 0.00 56,250,000.00 M-2 0.00 0.00 ~~124~~133,~~090~~665.3100 0.00 47,250,000.00 M-3 0.00 0.00 3740,~~929~~590.3800 0.00 13,500,000.00 M-4 0.00 0.00 4143,~~023~~590.1300 0.00 13,500,000.00 M-5-A 0.00 0.00 2324,~~202~~502.2189 0.00 7,100,000.00 M-5-B 0.00 0.00 15,~~273~~982.7311 0.00 4,150,000.00 M-6 0.00 0.00 5254,~~659~~233.3525 0.00 11,231,000.00 X 0.00 0.00 2,~~937~~563,~~625~~225.8658 0.00 22,492,027.66 P 0.00 0.00 ~~551~~503,~~676~~718.5795 0.00 100.00 Totals 0.00 0.00 54,~~063~~714,~~953~~604.3382 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 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 A-1 285,000,000.00 12.~~95000~~26750% ~~910~~840.~~58080547~~37344400 1.~~62766319~~69381937 0.00000000 0.00000000 A-2 238,500,000.00 12.~~95000~~26750% ~~908~~840.~~39332138~~36783765 1.~~62375308~~69380805 0.00000000 0.00000000 A-2-A 26,500,000.00 2.~~00500~~32250% ~~908~~840.~~39332151~~36783774 1.~~66955132~~73489283 0.00000000 0.00000000 A-3 174,200,000.00 12.~~91500~~23250% ~~894~~805.~~22329478~~01453927 1.~~56973450~~59750660 0.00000000 0.00000000 M-1 56,250,000.00 2.~~16500~~48250% 1000.00000000 12.~~98458329~~20666667 0.00000000 0.00000000 M-2 47,250,000.00 23.~~86500~~18250% 1000.00000000 2.~~62624995~~82888889 0.00000000 0.00000000 M-3 13,500,000.00 3.~~06500~~38250% 1000.00000000 23.~~80958370~~00666667 0.00000000 0.00000000 M-4 13,500,000.00 3.~~31500~~63250% 1000.00000000 3.~~03875037~~22888889 0.00000000 0.00000000 M-5-A 7,100,000.00 3.~~56500~~88250% 1000.00000000 3.~~26791690~~45111127 0.00000000 0.00000000 M-5-B 4,150,000.00 4.~~01500~~33250% 1000.00000000 3.~~68041687~~85111084 0.00000000 0.00000000 M-6 11,231,000.00 5.~~11500~~43250% 1000.00000000 4.~~68874989~~82888879 0.00000000 0.00000000 X 22,500,106.46 0.00000% 999.64094392 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 0.00000000 0.00000000 1.~~62766319~~69381933 0.00000000 ~~866~~800.~~21370786~~68284526 A-2 0.00000000 0.00000000 1.~~62375308~~69380805 0.00000000 ~~875~~803.~~91063954~~98884545 A-2-A 0.00000000 0.00000000 1.~~66955132~~73489283 0.00000000 ~~875~~803.~~91063962~~98884528 A-3 0.00000000 0.00000000 1.~~56973450~~59750660 0.00000000 ~~834~~769.~~07160551~~28232480 M-1 0.00000000 0.00000000 12.~~98458329~~20666667 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~62624995~~82888889 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 23.~~80958370~~00666667 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~03875037~~22888889 0.00000000 1000.00000000 M-5-A 0.00000000 0.00000000 3.~~26791690~~45111127 0.00000000 1000.00000000 M-5-B 0.00000000 0.00000000 3.~~68041687~~85111084 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 4.~~68874989~~82888879 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~130~~113.~~56053158~~92059787 0.00000000 999.64094392 P 0.00000000 0.00000000 ~~5516765~~5037189.~~70000000~~50000000 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 3631,~~611~~677,~~732~~254.6183 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~175~~272,~~392~~961.1597 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~551~~503,~~676~~718.5795 Total Deposits 3732,~~338~~453,~~801~~935.3375 Withdrawals Reimbursement for Servicer Advances ~~179~~221,~~405~~204.3900 Payment of Service Fee ~~364~~341,~~484~~321.8359 Payment of Interest and Principal 3631,~~794~~891,~~911~~410.1116 Total Withdrawals (Pool Distribution Amount) 3732,~~338~~453,~~801~~935.3375 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~346~~324,~~452~~129.7335 Strip Amount 1817,~~032~~192.1024 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~364~~341,~~484~~321.8359

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 2125 1 0 2226 34,~~473~~032,~~700~~276.4273 ~~208~~59,~~689~~528.3999 0.00 34,~~682~~091,~~389~~805.8172 30 Days 80131 5 1 0 860 11132 19,~~942~~807,~~260~~052.3835 ~~432~~265,~~451~~875.6090 ~~84,052~~0.5300 0.00 1220,~~458~~072,~~764~~928.5125 60 Days 2237 23 196 0 4346 46,~~909~~008,~~652~~394.6149 ~~454~~235,~~412~~013.6817 21,~~692~~045,~~180~~178.9474 0.00 87,~~056~~288,~~246~~586.2340 90 Days 25 04 1520 0 1729 ~~215~~596,~~088~~183.5025 0377,773.0066 23,~~062~~068,~~124~~131.6128 0.00 24,~~277~~042,~~213~~088.1119 120 Days 45 23 1518 1 2227 ~~189~~1,~~663~~096,696.5084 ~~157~~634,~~319~~954.0137 23,~~370~~005,~~436~~246.2693 ~~287~~87,~~242~~949.9242 34,~~004~~824,~~661~~847.6956 150 Days 0 01 09 02 012 0.00 050,769.0051 01,219,820.0092 0210,841.0046 01,481,431.0089 180+ Days 03 02 013 02 020 0268,466.0005 0157,104.0059 01,740,165.0047 0706,612.0033 02,872,348.0044 Totals ~~108~~181 3039 5167 15 ~~190~~292 1727,~~256~~776,~~664~~792.9998 45,~~517~~753,~~883~~767.7193 710,~~417~~138,~~483~~072.7333 ~~287~~1,~~242~~005,403.9221 2944,~~479~~674,~~275~~036.3545 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.~~433079~~543715% 0.~~020623~~021749% 0.000000% 0.~~453702~~565463% 0.~~434345~~537111% 0.~~026094~~007929% 0.000000% 0.~~460439~~545041% 30 Days 12.~~649825~~849065% 0.~~103114~~021749% 0.~~020623~~000000% 0.000000% 12.~~773562~~870813% 12.~~493239~~638359% 0.~~054073~~035415% 0.~~010510~~000000% 0.000000% 12.~~557821~~673775% 60 Days 0.~~453702~~804698% 0.~~041246~~065246% 0.~~391833~~130492% 0.000000% 01.~~886781~~000435% 0.~~613894~~800336% 0.~~056819~~031304% 0.~~336625~~139221% 0.000000% 10.~~007338~~970862% 90 Days 0.~~041246~~108743% 0.~~000000~~086994% 0.~~309342~~434972% 0.000000% 0.~~350588~~630709% 0.~~026894~~079413% 0.~~000000~~050321% 0.~~257844~~408684% 0.000000% 0.~~284739~~538418% 120 Days 0.~~082491~~108743% 0.~~041246~~065246% 0.~~309342~~391475% 0.~~020623~~021749% 0.~~453702~~587212% 0.~~023715~~146083% 0.~~019671~~084578% 0.~~296395~~400308% 0.~~035916~~011715% 0.~~375697~~642684% 150 Days 0.000000% 0.~~000000~~021749% 0.~~000000~~195737% 0.~~000000~~043497% 0.~~000000~~260983% 0.000000% 0.~~000000~~006763% 0.~~000000~~162484% 0.~~000000~~028085% 0.~~000000~~197331% 180+ Days 0.~~000000~~065246% 0.~~000000~~043497% 0.~~000000~~282732% 0.~~000000~~043497% 0.~~000000~~434972% 0.~~000000~~035760% 0.~~000000~~020927% 0.~~000000~~231795% 0.~~000000~~094123% 0.~~000000~~382605% Totals 23.~~227263~~936494% 0.~~618684~~848195% 1.~~051763~~457155% 0.~~020623~~108743% 36.~~918334~~350587% 23.~~157742~~699953% 0.~~564908~~766419% 01.~~927469~~350422% 0.~~035916~~133923% 35.~~686035~~950716%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 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 31 01 0 32 ~~230~~55,~~602~~046.4797 059,528.0099 0.00 ~~230~~114,~~602~~575.4796 30 Days 58 0 0 0 58 ~~466~~902,~~547~~386.4179 0.00 0.00 0.00 ~~466~~902,~~547~~386.4179 60 Days 3 1 1 4 0 65 69381,~~062~~049.3826 109,~~963~~834.7690 ~~392~~111,~~782~~701.2145 0.00 ~~571~~602,~~808~~585.3561 90 Days 0 0 32 0 32 0.00 0.00 ~~418~~151,~~496~~842.0612 0.00 ~~418~~151,~~496~~842.0612 120 Days 0 10 13 0 23 0.00 ~~58,775~~0.7700 42333,~~066~~806.9540 0.00 ~~100~~333,~~842~~806.7240 150 Days 0 0 02 01 03 0.00 0.00 0348,178.0031 069,555.0074 0417,734.0005 180 Days 0 01 01 0 02 0.00 058,717.0039 042,012.0096 0.00 0100,730.0035 Totals 611 53 810 01 1925 ~~535~~1,~~609~~283,436.7905 ~~399~~223,~~342~~599.0026 ~~853~~1,~~345~~047,070.2223 069,555.0074 12,~~788~~623,~~297~~661.0128 0-29 Days 0.~~450450~~155280% 0.~~000000~~155280% 0.000000% 0.~~450450~~310559% 0.~~262531~~065217% 0.~~000000~~070527% 0.000000% 0.~~262531~~135744% 30 Days 01.~~750751~~242236% 0.000000% 0.000000% 0.000000% 01.~~750751~~242236% 01.~~531144~~069105% 0.000000% 0.000000% 0.000000% 01.~~531144~~069105% 60 Days 0.~~150150~~465839% 0.~~150150~~155280% 0.~~600601~~155280% 0.000000% 0.~~900901~~776398% 0.~~078625~~451449% 0.~~125189~~130127% 0.~~447165~~132339% 0.000000% 0.~~650979~~713915% 90 Days 0.000000% 0.000000% 0.~~450450~~310559% 0.000000% 0.~~450450~~310559% 0.000000% 0.000000% 0.~~476440~~179895% 0.000000% 0.~~476440~~179895% 120 Days 0.000000% 0.~~150150~~000000% 0.~~150150~~465839% 0.000000% 0.~~300300~~465839% 0.000000% 0.~~066914~~000000% 0.~~047891~~395478% 0.000000% 0.~~114805~~395478% 150 Days 0.000000% 0.000000% 0.~~000000~~310559% 0.~~000000~~155280% 0.~~000000~~465839% 0.000000% 0.000000% 0.~~000000~~412505% 0.~~000000~~082406% 0.~~000000~~494912% 180 Days 0.000000% 0.~~000000~~155280% 0.~~000000~~155280% 0.000000% 0.~~000000~~310559% 0.000000% 0.~~000000~~069566% 0.~~000000~~049775% 0.000000% 0.~~000000~~119341% Totals 01.~~900901~~708075% 0.~~750751~~465839% 1.~~201201~~552795% 0.~~000000~~155280% 23.~~852853~~881988% 01.~~609768~~520555% 0.~~454633~~264910% 01.~~971496~~240520% 0.~~000000~~082406% 23.~~035898~~108391% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 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 59 0 0 59 ~~737~~1,~~933~~306,598.5230 0.00 0.00 ~~737~~1,~~933~~306,598.5230 30 Days 2643 1 10 0 2844 36,~~260~~114,~~344~~701.0278 49265,~~923~~875.7090 ~~84,052~~0.5300 0.00 36,~~394~~380,~~320~~577.2568 60 Days 79 0 52 0 1211 ~~981~~1,~~124~~230,306.7192 0.00 ~~825~~249,~~913~~691.6864 0.00 1,~~807~~479,~~038~~998.3956 90 Days 2 1 0 5 0 68 ~~108~~338,~~299~~365.1848 049,855.0034 ~~934~~549,~~533~~935.2582 0.00 1938,~~042,832~~156.4364 120 Days 1 1 56 0 78 39104,~~764~~935.1408 98200,~~543~~308.2446 ~~637~~755,~~863~~430.4719 0.00 ~~776~~1,~~170~~060,673.8573 150 Days 0 0 05 0 05 0.00 0.00 0780,489.0023 0.00 0780,489.0023 180 Days 01 01 04 0 06 0198,304.0097 098,387.0020 0402,076.0029 0.00 0698,768.0046 Totals 3556 713 1622 0 5891 47,~~389~~986,~~532~~614.0523 ~~886~~1,~~400~~921,025.4620 2,~~482~~737,~~362~~623.9317 0.00 712,~~758~~645,~~295~~262.4460 0-29 Days 0.~~351124~~672143% 0.000000% 0.000000% 0.~~351124~~672143% 0.~~323504~~613822% 0.000000% 0.000000% 0.~~323504~~613822% 30 Days 13.~~825843~~211352% 0.~~070225~~074683% 0.~~070225~~000000% 0.000000% 13.~~966292~~286034% 12.~~429308~~872604% 0.~~021886~~124905% 0.~~036848~~000000% 0.000000% 12.~~488042~~997509% 60 Days 0.~~491573~~672143% 0.000000% 0.~~351124~~149365% 0.000000% 0.~~842697~~821509% 0.~~430117~~577982% 0.000000% 0.~~362074~~117302% 0.000000% 0.~~792191~~695283% 90 Days 0.~~070225~~149365% 0.~~000000~~074683% 0.~~351124~~373413% 0.000000% 0.~~421348~~597461% 0.~~047477~~158960% 0.~~000000~~023421% 0.~~409692~~258352% 0.000000% 0.~~457169~~440733% 120 Days 0.~~070225~~074683% 0.~~070225~~074683% 0.~~351124~~448096% 0.000000% 0.~~491573~~597461% 0.~~017432~~049297% 0.~~043201~~094102% 0.~~279634~~354891% 0.000000% 0.~~340267~~498290% 150 Days 0.000000% 0.000000% 0.~~000000~~373413% 0.000000% 0.~~000000~~373413% 0.000000% 0.000000% 0.~~000000~~366663% 0.000000% 0.~~000000~~366663% 180 Days 0.~~000000~~074683% 0.~~000000~~074683% 0.~~000000~~298730% 0.000000% 0.~~000000~~448096% 0.~~000000~~093161% 0.~~000000~~046221% 0.~~000000~~188890% 0.000000% 0.~~000000~~328272% Totals 24.~~457865~~182226% 0.~~491573~~970874% 1.~~123596~~643017% 0.000000% 46.~~073034~~796117% 13.~~924334~~752003% 0.~~388591~~902472% 1.~~088247~~286098% 0.000000% 35.~~401172~~940573% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 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 2 0 0 2 ~~467~~554,~~801~~650.52 0.00 0.00 ~~467~~554,~~801~~650.52 30 Days 514 0 0 0 514 ~~537~~1,~~875~~691,906.3411 0.00 0.00 0.00 ~~537~~1,~~875~~691,906.3411 60 Days 1 01 0 0 12 61194,~~795~~696.3876 053,554.0045 0.00 0.00 61248,~~795~~251.3821 90 Days 01 0 1 0 12 092,096.0032 0.00 4440,~~601~~271.2109 0.00 44132,~~601~~367.2141 120 Days 01 0 21 0 2 0138,954.0068 0.00 ~~156~~61,~~867~~706.8203 0.00 ~~156~~200,~~867~~660.8271 150 Days 0 01 0 0 01 0.00 050,769.0051 0.00 0.00 050,769.0051 180 Days 0 0 01 0 01 0.00 0.00 0105,649.0057 0.00 0105,649.0057 Totals 617 24 3 0 1124 ~~599~~2,~~670~~117,653.7287 ~~467~~658,~~801~~974.5248 ~~201~~207,~~469~~626.0369 0.00 12,~~268~~984,~~941~~255.2704 0-29 Days 0.~~336134~~346620% 0.000000% 0.000000% 0.~~336134~~346620% 0.~~565939~~694301% 0.000000% 0.000000% 0.~~565939~~694301% 30 Days 02.~~840336~~426343% 0.000000% 0.000000% 0.000000% 02.~~840336~~426343% 02.~~650713~~117895% 0.000000% 0.000000% 0.000000% 02.~~650713~~117895% 60 Days 0.~~168067~~173310% 0.~~000000~~173310% 0.000000% 0.000000% 0.~~168067~~346620% 0.~~074759~~243718% 0.~~000000~~067038% 0.000000% 0.000000% 0.~~074759~~310756% 90 Days 0.~~000000~~173310% 0.000000% 0.~~168067~~173310% 0.000000% 0.~~168067~~346620% 0.~~000000~~115284% 0.000000% 0.~~053958~~050411% 0.000000% 0.~~053958~~165695% 120 Days 0.~~000000~~173310% 0.000000% 0.~~336134~~173310% 0.000000% 0.~~336134~~346620% 0.~~000000~~173941% 0.000000% 0.~~189776~~077242% 0.000000% 0.~~189776~~251183% 150 Days 0.000000% 0.~~000000~~173310% 0.000000% 0.000000% 0.~~000000~~173310% 0.000000% 0.~~000000~~063552% 0.000000% 0.000000% 0.~~000000~~063552% 180 Days 0.000000% 0.000000% 0.~~000000~~173310% 0.000000% 0.~~000000~~173310% 0.000000% 0.000000% 0.~~000000~~132250% 0.000000% 0.~~000000~~132250% Totals 12.~~008403~~946274% 0.~~336134~~693241% 0.~~504202~~519931% 0.000000% 14.~~848739~~159445% 02.~~725472~~650838% 0.~~565939~~824891% 0.~~243734~~259903% 0.000000% 13.~~535145~~735632% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 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 69 10 0 79 1,~~393~~673,~~090~~784.5981 ~~208,689~~0.3900 0.00 1,~~601~~673,~~779~~784.9881 30 Days 2540 10 0 0 2640 46,~~071~~503,~~748~~865.8262 ~~71,709~~0.5800 0.00 0.00 46,~~143~~503,~~458~~865.4062 60 Days 717 01 82 0 1520 12,~~613~~871,~~478~~007.7292 071,623.0082 1347,~~044,569~~247.8763 0.00 23,~~658~~289,~~048~~879.5937 90 Days 1 0 47 0 58 ~~106~~80,~~789~~977.3278 0.00 ~~421~~1,~~847~~268,044.6482 0.00 ~~528~~1,~~636~~349,022.9660 120 Days 1 01 34 1 57 79236,~~525~~725.1869 090,762.0038 ~~294~~719,~~195~~778.2070 ~~287~~87,~~242~~949.9242 ~~660~~1,~~963~~135,216.3019 150 Days 0 0 01 01 02 0.00 0.00 056,060.0050 0141,285.0072 0197,346.0022 180 Days 0 0 04 01 05 0.00 0.00 0373,212.0046 0286,837.0080 0660,050.0026 Totals 3459 711 1618 13 5891 59,~~871~~692,~~542~~577.0401 1,~~464~~836,~~800~~171.1701 12,~~969~~764,~~302~~344.1011 ~~287~~516,~~242~~072.9294 914,~~592~~809,~~887~~165.2307 0-29 Days 0.~~480384~~769889% 0.~~080064~~000000% 0.000000% 0.~~560448~~769889% 0.~~653264~~849789% 0.~~097861~~000000% 0.000000% 0.~~751125~~849789% 30 Days 23.~~001601~~421728% 0.~~080064~~000000% 0.000000% 0.000000% 23.~~081665~~421728% 13.~~909370~~302044% 0.~~033627~~000000% 0.000000% 0.000000% 13.~~942997~~302044% 60 Days 01.~~560448~~454234% 0.~~000000~~085543% 0.~~640512~~171086% 0.000000% 1.~~200961~~710864% 01.~~756610~~457625% 0.~~000000~~036364% 0.~~489831~~176299% 0.000000% 1.~~246442~~670288% 90 Days 0.~~080064~~085543% 0.000000% 0.~~320256~~598802% 0.000000% 0.~~400320~~684346% 0.~~050077~~041113% 0.000000% 0.~~197818~~643793% 0.000000% 0.~~247894~~684905% 120 Days 0.~~080064~~085543% 0.~~000000~~085543% 0.~~240192~~342173% 0.~~080064~~085543% 0.~~400320~~598802% 0.~~037292~~120187% 0.~~000000~~046081% 0.~~137957~~365435% 0.~~134697~~044652% 0.~~309946~~576355% 150 Days 0.000000% 0.000000% 0.~~000000~~085543% 0.~~000000~~085543% 0.~~000000~~171086% 0.000000% 0.000000% 0.~~000000~~028462% 0.~~000000~~071731% 0.~~000000~~100194% 180 Days 0.000000% 0.000000% 0.~~000000~~342173% 0.~~000000~~085543% 0.~~000000~~427716% 0.000000% 0.000000% 0.~~000000~~189482% 0.~~000000~~145629% 0.~~000000~~335111% Totals 25.~~722178~~047049% 0.~~560448~~940975% 1.~~281025~~539778% 0.~~080064~~256630% 47.~~643715~~784431% 24.~~753349~~920969% 0.~~686890~~932233% 01.~~923467~~403471% 0.~~134697~~262013% 47.~~498404~~518685% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 3 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 10 0 0 10 ~~61,421~~0.3700 0.00 0.00 ~~61,421~~0.3700 30 Days 47 10 0 0 57 ~~695~~724,~~924~~378.5124 ~~45,567~~0.9500 0.00 0.00 ~~741~~724,~~492~~378.4624 60 Days 01 0 0 0 01 0347,328.0011 0.00 0.00 0.00 0347,328.0011 90 Days 01 01 01 0 03 084,743.0067 045,439.0080 046,543.0006 0.00 0176,726.0053 120 Days 20 0 0 0 20 ~~70,374~~0.1800 0.00 0.00 0.00 ~~70,374~~0.1800 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 02 0 0 0 02 070,161.0008 0.00 0.00 0.00 070,161.0008 Totals 611 21 01 0 813 ~~766~~1,~~298~~226,611.6910 ~~106~~45,~~989~~439.3280 046,543.0006 0.00 ~~873~~1,~~288~~318,593.0196 0-29 Days 0.~~304878~~000000% 0.000000% 0.000000% 0.~~304878~~000000% 0.~~135308~~000000% 0.000000% 0.000000% 0.~~135308~~000000% 30 Days 12.~~219512~~215190% 0.~~304878~~000000% 0.000000% 0.000000% 12.~~524390~~215190% 1.~~533080~~634784% 0.~~100383~~000000% 0.000000% 0.000000% 1.~~633463~~634784% 60 Days 0.~~000000~~316456% 0.000000% 0.000000% 0.000000% 0.~~000000~~316456% 0.~~000000~~783854% 0.000000% 0.000000% 0.000000% 0.~~000000~~783854% 90 Days 0.~~000000~~316456% 0.~~000000~~316456% 0.~~000000~~316456% 0.000000% 0.~~000000~~949367% 0.~~000000~~191250% 0.~~000000~~102549% 0.~~000000~~105039% 0.000000% 0.~~000000~~398838% 120 Days 0.~~609756~~000000% 0.000000% 0.000000% 0.000000% 0.~~609756~~000000% 0.~~155030~~000000% 0.000000% 0.000000% 0.000000% 0.~~155030~~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~~632911% 0.000000% 0.000000% 0.000000% 0.~~000000~~632911% 0.~~000000~~158340% 0.000000% 0.000000% 0.000000% 0.~~000000~~158340% Totals 13.~~829268~~481013% 0.~~609756~~316456% 0.~~000000~~316456% 0.000000% 24.~~439024~~113924% 12.~~688110~~768229% 0.~~235691~~102549% 0.~~000000~~105039% 0.000000% 12.~~923801~~975817% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Grp 3 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 4 0 0 4 ~~582~~442,~~850~~196.9513 0.00 0.00 ~~582~~442,~~850~~196.9513 30 Days 1519 20 0 0 1719 23,~~909~~869,~~820~~813.2881 ~~265,250~~0.3700 0.00 0.00 3,~~175~~869,~~070~~813.6581 60 Days 6 0 1 2 0 97 2984,~~184,191~~005.4252 ~~344,448~~0.9200 ~~428~~336,~~915~~538.1802 0.00 21,~~957~~320,~~555~~543.5254 90 Days 0 0 2 4 0 26 0.00 0282,478.0052 ~~242~~1,~~646~~011,494.4537 0.00 ~~242~~1,~~646~~293,972.4589 120 Days 02 01 4 0 47 0616,081.0039 0343,883.0053 1,~~239~~134,~~442~~525.8261 0.00 12,~~239~~094,~~442~~490.8253 150 Days 0 0 01 0 01 0.00 0.00 035,092.0088 0.00 035,092.0088 180 Days 0 0 03 01 04 0.00 0.00 0817,214.0019 0419,774.0053 01,236,988.0072 Totals 2127 7 813 01 3648 5,~~094~~469,~~011~~900.7072 1,~~192~~068,~~550~~558.2418 13,~~911~~334,~~004~~865.4507 0419,774.0053 810,~~197~~293,~~566~~098.3950 0-29 Days 0.~~681431~~723327% 0.000000% 0.000000% 0.~~681431~~723327% 0.~~408999~~334227% 0.000000% 0.000000% 0.~~408999~~334227% 30 Days 23.~~555366~~435805% 0.~~340716~~000000% 0.000000% 0.000000% 23.~~896082~~435805% 2.~~041884~~924942% 0.~~186132~~000000% 0.000000% 0.000000% 2.~~228015~~924942% 60 Days 1.~~022147~~084991% 0.~~170358~~000000% 0.~~340716~~180832% 0.000000% 1.~~533220~~265823% 10.~~532694~~743746% 0.~~241707~~000000% 0.~~300979~~254367% 0.000000% 20.~~075380~~998114% 90 Days 0.000000% 0.~~000000~~361664% 0.~~340716~~723327% 0.000000% 01.~~340716~~084991% 0.000000% 0.~~000000~~213507% 0.~~170270~~764523% 0.000000% 0.~~170270~~978030% 120 Days 0.~~000000~~361664% 0.~~000000~~180832% 0.~~681431~~723327% 0.000000% 01.~~681431~~265823% 0.~~000000~~465656% 0.~~000000~~259919% 0.~~869744~~857515% 0.000000% 01.~~869744~~583090% 150 Days 0.000000% 0.000000% 0.~~000000~~180832% 0.000000% 0.~~000000~~180832% 0.000000% 0.000000% 0.~~000000~~026524% 0.000000% 0.~~000000~~026524% 180 Days 0.000000% 0.000000% 0.~~000000~~542495% 0.~~000000~~180832% 0.~~000000~~723327% 0.000000% 0.000000% 0.~~000000~~617679% 0.~~000000~~317280% 0.~~000000~~934960% Totals 34.~~577513~~882459% 1.~~192504~~265823% 12.~~362862~~350814% 0.~~000000~~180832% 68.~~132879~~679928% 34.~~574578~~134344% 0.~~836838~~807654% 12.~~340993~~520609% 0.~~000000~~317280% 57.~~752409~~779888%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~175~~272,~~392~~961.1597

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~038134~~022207% Weighted Average Net Coupon 6.~~538134~~522207% Weighted Average Pass-Through Rate 6.~~512111~~495686% Weighted Average Maturity(Stepdown Calculation ) ~~346~~344 Beginning Scheduled Collateral Loan Count 4,~~995~~740 Number Of Loans Paid In Full ~~146~~142 Ending Scheduled Collateral Loan Count 4,~~849~~598 Beginning Scheduled Collateral Balance ~~831~~777,~~486~~910,~~585~~568.3492 Ending Scheduled Collateral Balance ~~799~~750,~~755~~733,~~627~~763.5658 Ending Actual Collateral Balance at 31-~~Aug~~Oct-2004 ~~799~~750,~~755~~733,~~627~~763.5658 Monthly P &I Constant 5,~~661~~300,~~091~~578.60 Special Servicing Fee 0.00 Prepayment Penalties ~~551~~503,~~676~~718.5795 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~799~~750,~~755~~733,~~627~~763.5658 Scheduled Principal ~~784~~748,~~330~~371.0209 Unscheduled Principal 3026,~~946~~428,~~627~~434.7625

Miscellaneous Reporting Credit Enhancement Percentage 2123.~~940831~~373536% Net WAC Rate 6.~~5381344~~114569% Overcollateralized Amt 22,492,027.66 Overcollateralization Deficiency 0.00 Overcollateralization Increase 0.00 Overcollateralization Release 0.00 Overcollateralization Target 22,492,027.66 Net Monthly Excess Cash Amount 2,~~937~~563,~~626~~225.2662 Payment under CAP Agreement 0.00 Has Stepdown Date Occurred NO In Trigger Event NO A1 PTR (excl CAP) for Next Distribution 2.~~175000~~515000% A2 PTR (excl CAP) for Next Distribution 2.~~175000~~515000% A2A PTR (excl CAP) for Next Distribution 2.~~230000~~570000% A3 PTR (excl CAP) for Next Distribution 2.~~140000~~480000% M1 PTR (excl CAP) for Next Distribution 2.~~390000~~730000% M2 PTR (excl CAP) for Next Distribution 3.~~090000~~430000% M3 PTR (excl CAP) for Next Distribution 3.~~290000~~630000% M4 PTR (excl CAP) for Next Distribution 3.~~540000~~880000% M5A PTR (excl CAP) for Next Distribution 34.~~790000~~130000% M5B PTR (excl CAP) for Next Distribution 4.~~240000~~580000% M6 PTR (excl CAP) for Next Distribution 5.~~340000~~680000%

Group Level Collateral Statement Group Grp 1 Fixed Grp 1 ARM Grp 2 Fixed Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.~~116786~~105950 7.~~052570~~034269 7.~~106273~~099090 Weighted Average Net Rate 6.~~616786~~605950 6.~~552570~~534269 6.~~606273~~599090 Weighted Average Maturity ~~346~~344 ~~346~~344 ~~347~~345 Beginning Loan Count ~~679~~656 1,~~478~~391 ~~603~~589 Loans Paid In Full 1312 5452 812 Ending Loan Count ~~666~~644 1,~~424~~339 ~~595~~577 Beginning Scheduled Balance 8986,~~946~~315,~~911~~748.6187 ~~238~~222,~~642~~264,~~466~~531.8860 8481,~~050~~503,~~961~~433.2590 Ending scheduled Balance 8784,~~838~~405,~~225~~778.9527 ~~228~~212,~~106~~862,~~529~~681.7256 8279,~~659~~886,~~393~~213.7460 Record Date 0810/31/2004 0810/31/2004 0810/31/2004 Principal And Interest Constant ~~638~~613,~~680~~911.4113 1,~~608~~497,~~049~~630.3375 ~~593~~577,~~838~~090.8361 Scheduled Principal ~~105~~102,~~236~~781.3165 ~~205~~194,~~513~~740.6630 9694,~~097~~923.9374 Unscheduled Principal 21,~~003~~807,~~449~~188.3595 109,~~330~~207,~~423~~109.5074 1,~~295~~522,~~469~~296.5856 Scheduled Interest ~~533~~511,~~444~~129.1048 1,~~402~~302,~~535~~890.6745 ~~497~~482,~~740~~166.9087 Servicing Fees 3735,~~477~~964.8789 9992,~~434~~610.3723 3533,~~021~~959.2576 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~495~~475,~~966~~164.2359 1,~~303~~210,~~101~~280.3022 ~~462~~448,~~719~~207.6511 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~616786~~605950 6.~~552570~~534269 6.~~606273~~599090

Group Level Collateral Statement Group Grp 2 ARM Grp 3 Fixed Grp 3 ARM Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.~~095670~~079083 7.~~264294~~215605 6.~~779405~~758096 Weighted Average Net Rate 6.~~595670~~579083 6.~~764294~~715605 6.~~279405~~258096 Weighted Average Maturity ~~347~~345 ~~346~~344 ~~346~~344 Beginning Loan Count 1,~~287~~208 ~~332~~323 ~~616~~573 Loans Paid In Full 3839 47 2920 Ending Loan Count 1,~~249~~169 ~~328~~316 ~~587~~553 Beginning Scheduled Balance ~~220~~204,~~467~~988,~~262~~037.8703 4644,~~185~~710,~~182~~080.0875 ~~152~~138,~~193~~128,~~800~~736.6577 Ending scheduled Balance ~~213~~196,~~250~~964,~~919~~824.6939 4544,~~393~~310,~~887~~321.2521 ~~142~~132,~~506~~303,~~671~~944.2155 Record Date 0810/31/2004 0810/31/2004 0810/31/2004 Principal And Interest Constant 1,~~491~~387,~~879~~348.8298 ~~331~~319,~~269~~710.0191 ~~997~~904,~~374~~886.2022 Scheduled Principal ~~188~~178,~~243~~076.9826 5150,~~683~~869.4000 ~~137~~126,~~554~~980.7414 Unscheduled Principal 7,~~028~~845,~~099~~136.2038 ~~739~~348,~~611~~890.4354 95,~~549~~697,~~574~~812.7008 Scheduled Interest 1,~~303~~209,~~635~~272.8472 ~~279~~268,~~585~~841.6191 ~~859~~777,~~819~~906.4608 Servicing Fees 9185,~~861~~411.3670 1918,~~243~~629.8120 6357,~~414~~553.0763 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,~~211~~123,~~774~~861.4802 ~~260~~250,~~341~~212.8071 ~~796~~720,~~405~~352.3945 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~595670~~579083 6.~~764294~~715605 6.~~279405~~258096

Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~038134~~022207 Weighted Average Net Rate 6.~~538134~~522207 Weighted Average Maturity ~~346~~344.00 Record Date 0810/31/2004 Principal And Interest Constant 5,~~661~~300,~~091~~578.60 Beginning Loan Count 4,~~995~~740 Loans Paid In Full ~~146~~142 Ending Loan Count 4,~~849~~598 Beginning Scheduled Balance ~~831~~777,~~486~~910,~~585~~568.3492 Ending Scheduled Balance ~~799~~750,~~755~~733,~~627~~763.5658 Scheduled Principal ~~784~~748,~~330~~371.0209 Unscheduled Principal 3026,~~946~~428,~~627~~434.7625 Scheduled Interest 4,~~876~~552,~~761~~207.5851 Servicing Fee ~~346~~324,~~452~~129.7341 Master Servicing Fee 0.00 Trustee Fee 0.00 Fry Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 4,~~530~~228,~~308~~078.8510 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 6.~~512111~~495686

Filing Compare · ASSET BACKED SEC CORP ASSET BACK PASS-THR CERTS SER 2004-HE2