8-K 1 abs04he3_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-HE3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-109307-07 54-2155109 Pooling and Servicing Agreement) (Commission 54-2155110 (State or other File Number) 54-2155111 jurisdiction 54-2155112 of Incorporation) 54-2155113 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-HE3 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-HE3 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-HE3 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-HE3 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-HE3 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 04541GJL7 RES 0.00000% 0.00 0.00 0.00 B-IO 04541GJH6 SUB-IO 0.00000% 0.00 0.00 0.00 A1 04541GJM5 SEN 12.~~83500~~15250% ~~199~~185,~~487~~521,~~891~~833.7530 ~~335~~354,~~555~~965.2611 58,~~900~~560,~~886~~452.7679 A1A 04541GJN3 SEN 12.~~99500~~31250% 23,700,000.00 4348,~~341~~716.3867 0.00 A2 04541GJP8 SEN 12.~~85500~~17250% ~~186~~172,~~851~~327,~~493~~736.4862 ~~317~~332,~~725~~784.3901 47,~~899~~722,~~049~~481.5327 A2A 04541GJQ6 SEN 12.~~90500~~22250% 2019,~~761~~147,~~277~~526.0529 3637,~~254~~827.3800 ~~544~~858,~~338~~053.8447 A3 04541GJR4 SEN 12.~~76500~~08250% 9688,~~113~~064,~~142~~872.2291 ~~155~~163,~~503~~017.0586 43,~~025~~511,~~884~~122.5754 A3A 04541GJS2 SEN 2.~~01500~~33250% 41,350,000.00 7685,~~376~~732.9033 0.00 M1 04541GJT0 MEZ 2.~~15500~~47250% 50,100,000.00 98110,~~968~~108.3867 0.00 M2 04541GJU7 MEZ 23.~~73500~~05250% 40,300,000.00 ~~101~~109,~~035~~347.4633 0.00 M3 04541GJV5 MEZ 3.~~01500~~33250% 10,900,000.00 3032,~~124~~288.8822 0.00 M4 04541GJW3 MEZ 3.~~21500~~53250% 9,450,000.00 2729,~~849~~673.9400 0.00 M5 04541GJX1 MEZ 3.~~31500~~63250% 10,550,000.00 3234,~~058~~064.8178 0.00 M6 04541GJY9 MEZ 4.~~36500~~68250% 7,910,000.00 3132,~~649~~923.8918 0.00 M7 04541GJZ6 MEZ 5.~~36500~~68250% 7,911,000.00 3839,~~905~~959.6434 0.00 X 04541GJJ2 OC 0.00000% 13,558,888.61 2,~~737~~431,~~430~~982.5609 0.00 P 04541GJK9 SEN 0.00000% 100.00 ~~253~~331,~~375~~654.5782 0.00 Totals ~~718~~680,~~943~~791,~~793~~957.1173 4,~~316~~175,~~155~~044.4941 1520,~~370~~652,~~159~~110.7007

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 A1 0.00 ~~193~~176,~~587~~961,~~004~~380.9951 68,~~236~~915,~~442~~417.0290 0.00 A1A 0.00 23,700,000.00 4348,~~341~~716.3867 0.00 A2 0.00 ~~181~~164,~~952~~605,~~443~~255.9535 58,~~216~~055,~~774~~265.9228 0.00 A2A 0.00 2018,~~216~~289,~~938~~472.2282 ~~580~~895,~~593~~880.2247 0.00 A3 0.00 9284,~~087~~553,~~257~~750.6537 43,~~181~~674,~~387~~140.6240 0.00 A3A 0.00 41,350,000.00 7685,~~376~~732.9033 0.00 M1 0.00 50,100,000.00 98110,~~968~~108.3867 0.00 M2 0.00 40,300,000.00 ~~101~~109,~~035~~347.4633 0.00 M3 0.00 10,900,000.00 3032,~~124~~288.8822 0.00 M4 0.00 9,450,000.00 2729,~~849~~673.9400 0.00 M5 0.00 10,550,000.00 3234,~~058~~064.8178 0.00 M6 0.00 7,910,000.00 3132,~~649~~923.8918 0.00 M7 0.00 7,911,000.00 3839,~~905~~959.6434 0.00 X 0.00 13,558,888.61 2,~~737~~431,~~430~~982.5609 0.00 P 0.00 100.00 ~~253~~331,~~375~~654.5782 0.00 Totals 0.00 ~~703~~660,~~573~~139,~~633~~847.4266 1924,~~686~~827,~~315~~154.1948 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) B-IO 0.00 0.00 0.00 0.00 0.00 0.00 A1 213,300,000.00 ~~199~~185,~~487~~521,~~891~~833.7530 0.00 58,~~900~~560,~~886~~452.7679 0.00 0.00 A1A 23,700,000.00 23,700,000.00 0.00 0.00 0.00 0.00 A2 198,000,000.00 ~~186~~172,~~851~~327,~~493~~736.4862 0.00 47,~~899~~722,~~049~~481.5327 0.00 0.00 A2A 22,000,000.00 2019,~~761~~147,~~277~~526.0529 0.00 ~~544~~858,~~338~~053.8447 0.00 0.00 A3 104,250,000.00 9688,~~113~~064,~~142~~872.2291 0.00 43,~~025~~511,~~884~~122.5754 0.00 0.00 A3A 41,350,000.00 41,350,000.00 0.00 0.00 0.00 0.00 M1 50,100,000.00 50,100,000.00 0.00 0.00 0.00 0.00 M2 40,300,000.00 40,300,000.00 0.00 0.00 0.00 0.00 M3 10,900,000.00 10,900,000.00 0.00 0.00 0.00 0.00 M4 9,450,000.00 9,450,000.00 0.00 0.00 0.00 0.00 M5 10,550,000.00 10,550,000.00 0.00 0.00 0.00 0.00 M6 7,910,000.00 7,910,000.00 0.00 0.00 0.00 0.00 M7 7,911,000.00 7,911,000.00 0.00 0.00 0.00 0.00 X 13,550,489.29 13,558,888.61 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 753,271,589.29 ~~718~~680,~~943~~791,~~793~~957.1173 0.00 1520,~~370~~652,~~159~~110.7007 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 B-IO 0.00 0.00 0.00000000 0.00 A1 58,~~900~~560,~~886~~452.7679 ~~193~~176,~~587~~961,~~004~~380.9951 0.~~90758090~~82963610 58,~~900~~560,~~886~~452.7679 A1A 0.00 23,700,000.00 1.00000000 0.00 A2 47,~~899~~722,~~049~~481.5327 ~~181~~164,~~952~~605,~~443~~255.9535 0.~~91895174~~83133967 47,~~899~~722,~~049~~481.5327 A2A ~~544~~858,~~338~~053.8447 2018,~~216~~289,~~938~~472.2282 0.~~91895174~~83133967 ~~544~~858,~~338~~053.8447 A3 43,~~025~~511,~~884~~122.5754 9284,~~087~~553,~~257~~750.6537 0.~~88333101~~81106715 43,~~025~~511,~~884~~122.5754 A3A 0.00 41,350,000.00 1.00000000 0.00 M1 0.00 50,100,000.00 1.00000000 0.00 M2 0.00 40,300,000.00 1.00000000 0.00 M3 0.00 10,900,000.00 1.00000000 0.00 M4 0.00 9,450,000.00 1.00000000 0.00 M5 0.00 10,550,000.00 1.00000000 0.00 M6 0.00 7,910,000.00 1.00000000 0.00 M7 0.00 7,911,000.00 1.00000000 0.00 X 0.00 13,558,888.61 1.00061985 0.00 P 0.00 100.00 1.00000000 0.00 Totals 1520,~~370~~652,~~159~~110.7007 ~~703~~660,~~573~~139,~~633~~847.4266 0.~~93402385~~87636366 1520,~~370~~652,~~159~~110.7007

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 A1 213,300,000.00 ~~935~~869.~~24562471~~76949508 0.00000000 2740.~~66472930~~13339330 0.00000000 A1A 23,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A2 198,000,000.00 ~~943~~870.~~69441152~~34210414 0.00000000 2439.~~74267439~~00243066 0.00000000 A2A 22,000,000.00 ~~943~~870.~~69441136~~34210409 0.00000000 2439.~~74267455~~00243045 0.00000000 A3 104,250,000.00 ~~921~~844.~~94860643~~74698235 0.00000000 3833.~~61759779~~67983252 0.00000000 A3A 41,350,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 50,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 40,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 10,900,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 9,450,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 10,550,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 7,910,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 7,911,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 13,550,489.29 1000.61985363 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 A1 0.00000000 2740.~~66472930~~13339330 ~~907~~829.~~58089541~~63610178 0.~~90758090~~82963610 2740.~~66472930~~13339330 A1A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A2 0.00000000 2439.~~74267439~~00243066 ~~918~~831.~~95173712~~33967348 0.~~91895174~~83133967 2439.~~74267439~~00243066 A2A 0.00000000 2439.~~74267455~~00243045 ~~918~~831.~~95173727~~33967364 0.~~91895174~~83133967 2439.~~74267455~~00243045 A3 0.00000000 3833.~~61759779~~67983252 ~~883~~811.~~33100863~~06714983 0.~~88333101~~81106715 3833.~~61759779~~67983252 A3A 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 M7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.61985363 1.00061985 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 A1 213,300,000.00 12.~~83500~~15250% ~~199~~185,~~487~~521,~~891~~833.7530 ~~335~~354,~~555~~965.2611 0.00 0.00 A1A 23,700,000.00 12.~~99500~~31250% 23,700,000.00 4348,~~341~~716.3867 0.00 0.00 A2 198,000,000.00 12.~~85500~~17250% ~~186~~172,~~851~~327,~~493~~736.4862 ~~317~~332,~~725~~784.3901 0.00 0.00 A2A 22,000,000.00 12.~~90500~~22250% 2019,~~761~~147,~~277~~526.0529 3637,~~254~~827.3800 0.00 0.00 A3 104,250,000.00 12.~~76500~~08250% 9688,~~113~~064,~~142~~872.2291 ~~155~~163,~~503~~017.0586 0.00 0.00 A3A 41,350,000.00 2.~~01500~~33250% 41,350,000.00 7685,~~376~~732.9033 0.00 0.00 M1 50,100,000.00 2.~~15500~~47250% 50,100,000.00 98110,~~968~~108.3867 0.00 0.00 M2 40,300,000.00 23.~~73500~~05250% 40,300,000.00 ~~101~~109,~~035~~347.4633 0.00 0.00 M3 10,900,000.00 3.~~01500~~33250% 10,900,000.00 3032,~~124~~288.8822 0.00 0.00 M4 9,450,000.00 3.~~21500~~53250% 9,450,000.00 2729,~~849~~673.9400 0.00 0.00 M5 10,550,000.00 3.~~31500~~63250% 10,550,000.00 3234,~~058~~064.8178 0.00 0.00 M6 7,910,000.00 4.~~36500~~68250% 7,910,000.00 3132,~~649~~923.8918 0.00 0.00 M7 7,911,000.00 5.~~36500~~68250% 7,911,000.00 3839,~~905~~959.6434 0.00 0.00 X 13,550,489.29 0.00000% 13,558,888.61 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 753,271,589.29 1,~~325~~411,~~349~~407.3650 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 A1 0.00 0.00 ~~335~~354,~~555~~965.2611 0.00 ~~193~~176,~~587~~961,~~004~~380.9951 A1A 0.00 0.00 4348,~~341~~716.3867 0.00 23,700,000.00 A2 0.00 0.00 ~~317~~332,~~725~~784.3901 0.00 ~~181~~164,~~952~~605,~~443~~255.9535 A2A 0.00 0.00 3637,~~254~~827.3800 0.00 2018,~~216~~289,~~938~~472.2282 A3 0.00 0.00 ~~155~~163,~~503~~017.0586 0.00 9284,~~087~~553,~~257~~750.6537 A3A 0.00 0.00 7685,~~376~~732.9033 0.00 41,350,000.00 M1 0.00 0.00 98110,~~968~~108.3867 0.00 50,100,000.00 M2 0.00 0.00 ~~101~~109,~~035~~347.4633 0.00 40,300,000.00 M3 0.00 0.00 3032,~~124~~288.8822 0.00 10,900,000.00 M4 0.00 0.00 2729,~~849~~673.9400 0.00 9,450,000.00 M5 0.00 0.00 3234,~~058~~064.8178 0.00 10,550,000.00 M6 0.00 0.00 3132,~~649~~923.8918 0.00 7,910,000.00 M7 0.00 0.00 3839,~~905~~959.6434 0.00 7,911,000.00 X 0.00 0.00 2,~~737~~431,~~430~~982.5609 0.00 13,558,888.61 P 0.00 0.00 ~~253~~331,~~375~~654.5782 0.00 100.00 Totals 0.00 0.00 4,~~316~~175,~~155~~044.4941 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 A1 213,300,000.00 12.~~83500~~15250% ~~935~~869.~~24562471~~76949508 1.~~57316109~~66415898 0.00000000 0.00000000 A1A 23,700,000.00 12.~~99500~~31250% 1000.00000000 12.~~82875021~~05555570 0.00000000 0.00000000 A2 198,000,000.00 12.~~85500~~17250% ~~943~~870.~~69441152~~34210414 1.~~60467369~~68072732 0.00000000 0.00000000 A2A 22,000,000.00 12.~~90500~~22250% ~~943~~870.~~69441136~~34210409 1.~~64792636~~71940909 0.00000000 0.00000000 A3 104,250,000.00 12.~~76500~~08250% ~~921~~844.~~94860643~~74698235 1.~~49163597~~56372048 0.00000000 0.00000000 A3A 41,350,000.00 2.~~01500~~33250% 1000.00000000 12.~~84708343~~07333325 0.00000000 0.00000000 M1 50,100,000.00 2.~~15500~~47250% 1000.00000000 12.~~97541677~~19777784 0.00000000 0.00000000 M2 40,300,000.00 23.~~73500~~05250% 1000.00000000 2.~~50708337~~71333325 0.00000000 0.00000000 M3 10,900,000.00 3.~~01500~~33250% 1000.00000000 2.~~76375046~~96222202 0.00000000 0.00000000 M4 9,450,000.00 3.~~21500~~53250% 1000.00000000 23.~~94708360~~14000000 0.00000000 0.00000000 M5 10,550,000.00 3.~~31500~~63250% 1000.00000000 3.~~03874976~~22888910 0.00000000 0.00000000 M6 7,910,000.00 4.~~36500~~68250% 1000.00000000 4.~~00125032~~16222250 0.00000000 0.00000000 M7 7,911,000.00 5.~~36500~~68250% 1000.00000000 45.~~91791682~~05111111 0.00000000 0.00000000 X 13,550,489.29 0.00000% 1000.61985363 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 A1 0.00000000 0.00000000 1.~~57316109~~66415898 0.00000000 ~~907~~829.~~58089541~~63610178 A1A 0.00000000 0.00000000 12.~~82875021~~05555570 0.00000000 1000.00000000 A2 0.00000000 0.00000000 1.~~60467369~~68072732 0.00000000 ~~918~~831.~~95173712~~33967348 A2A 0.00000000 0.00000000 1.~~64792636~~71940909 0.00000000 ~~918~~831.~~95173727~~33967364 A3 0.00000000 0.00000000 1.~~49163597~~56372048 0.00000000 ~~883~~811.~~33100863~~06714983 A3A 0.00000000 0.00000000 12.~~84708343~~07333325 0.00000000 1000.00000000 M1 0.00000000 0.00000000 12.~~97541677~~19777784 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~50708337~~71333325 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.~~76375046~~96222202 0.00000000 1000.00000000 M4 0.00000000 0.00000000 23.~~94708360~~14000000 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.~~03874976~~22888910 0.00000000 1000.00000000 M6 0.00000000 0.00000000 4.~~00125032~~16222250 0.00000000 1000.00000000 M7 0.00000000 0.00000000 45.~~91791682~~05111111 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~202~~179.~~01710074~~47559221 0.00000000 1000.61985363 P 0.00000000 0.00000000 ~~2533755~~3316548.~~70000000~~20000000 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 1925,~~580~~006,~~801~~104.5264 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 69111,~~459~~948.3192 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~253,375~~0.5700 Total Deposits 1925,~~903~~118,~~636~~053.4056 Withdrawals Reimbursement for Servicer Advances 1295,~~043~~750.5214 Payment of Service Fee ~~205~~195,~~277~~148.6994 Payment of Interest and Principal 1924,~~686~~827,~~315~~154.1948 Total Withdrawals (Pool Distribution Amount) 1925,~~903~~118,~~636~~053.4056 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~179~~170,~~735~~197.9598 Strip Amount 2524,~~541~~950.7496 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~205~~195,~~277~~148.6994

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 59 01 0 510 ~~673~~1,~~337~~364,848.0145 0147,672.0024 0.00 ~~673~~1,~~337~~512,520.0169 30 Days 7174 20 0 0 7374 11,~~118~~858,~~543~~298.4493 ~~316,111~~0.2300 0.00 0.00 11,~~434~~858,~~654~~298.6793 60 Days 1518 0 714 0 2232 2,~~479~~951,~~205~~849.6091 0.00 ~~681~~1,~~554~~518,388.9870 0.00 34,~~160~~470,~~760~~238.5861 90 Days 312 02 426 02 742 ~~222~~1,~~766~~936,655.0302 0140,244.0091 ~~568~~2,~~588~~957,626.8130 0204,203.0026 ~~791~~5,~~354~~238,729.8449 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 89104 7 11 041 ~~107~~2 13158 16,~~820~~746,~~515~~803.0786 ~~989~~1,~~448~~505,093.2436 14,~~250~~623,~~143~~687.7924 0204,203.0026 1623,~~060~~079,~~107~~787.1072 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.~~112867~~214337% 0.~~000000~~023815% 0.000000% 0.~~112867~~238152% 0.~~095672~~206676% 0.~~000000~~022362% 0.000000% 0.~~095672~~229037% 30 Days 1.~~602709~~762324% 0.~~045147~~000000% 0.000000% 0.000000% 1.~~647856~~762324% 1.~~579799~~795674% 0.~~044915~~000000% 0.000000% 0.000000% 1.~~624714~~795674% 60 Days 0.~~338600~~428673% 0.000000% 0.~~158014~~333413% 0.000000% 0.~~496614~~762086% 0.~~352262~~446992% 0.000000% 0.~~096840~~229926% 0.000000% 0.~~449102~~676918% 90 Days 0.~~067720~~285782% 0.~~000000~~047630% 0.~~090293~~619195% 0.~~000000~~047630% 01.~~158014~~000238% 0.~~031652~~293263% 0.~~000000~~021237% 0.~~080789~~447866% 0.~~000000~~030922% 0.~~112441~~793288% 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 2.~~009029~~476780% 0.~~158014~~261967% 0.~~248307~~976423% 0.~~000000~~047630% 23.~~415350~~762801% 12.~~963713~~535929% 0.~~140588~~227913% 0.~~177629~~700154% 0.~~000000~~030922% 23.~~281930~~494918%

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 34 0 0 0 34 ~~634~~440,~~382~~116.5288 0.00 0.00 0.00 ~~634~~440,~~382~~116.5288 60 Days 1 0 10 0 21 ~~271~~52,~~017~~895.9005 0.00 ~~66,875~~0.2000 0.00 ~~337~~52,~~893~~895.1005 90 Days 02 0 13 0 15 0527,463.0062 0.00 85425,~~463~~030.0901 0.00 85952,~~463~~493.0963 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 47 0 23 0 610 ~~905~~1,~~400~~020,475.4255 0.00 ~~152~~425,~~338~~030.2901 0.00 1,~~057~~445,~~738~~505.7156 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~538600~~746269% 0.000000% 0.000000% 0.000000% 0.~~538600~~746269% 0.~~841098~~610520% 0.000000% 0.000000% 0.000000% 0.~~841098~~610520% 60 Days 0.~~179533~~186567% 0.000000% 0.~~179533~~000000% 0.000000% 0.~~359066~~186567% 0.~~359330~~073375% 0.000000% 0.~~088667~~000000% 0.000000% 0.~~447996~~073375% 90 Days 0.~~000000~~373134% 0.000000% 0.~~179533~~559701% 0.000000% 0.~~179533~~932836% 0.~~000000~~731686% 0.000000% 0.~~113311~~589592% 0.000000% 01.~~113311~~321278% 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 01.~~718133~~305970% 0.000000% 0.~~359066~~559701% 0.000000% 1.~~077199~~865672% 1.~~200427~~415581% 0.000000% 0.~~201978~~589592% 0.000000% 12.~~402405~~005173% 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 3 01 0 34 ~~428~~580,~~342~~220.3370 0147,672.0024 0.00 ~~428~~727,~~342~~892.3394 30 Days 3130 10 0 0 3230 4,~~124~~502,~~770~~748.1816 ~~235,289~~0.6100 0.00 0.00 4,~~360~~502,~~059~~748.7916 60 Days 68 0 24 0 812 ~~930~~1,~~722~~624,309.1326 0.00 ~~189~~468,~~442~~741.6824 0.00 12,~~120~~093,~~164~~050.8150 90 Days 05 0 15 02 112 0566,111.0015 0.00 ~~119~~505,~~222~~687.2973 0204,203.0026 ~~119~~1,~~222~~276,002.2914 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 3743 4 3 010 442 558 6,~~055~~693,~~492~~168.3157 ~~663~~580,~~631~~220.9470 ~~308~~1,~~664~~122,101.9721 0204,203.0026 68,~~027~~599,~~789~~693.2274 0-29 Days 0.~~219298~~231660% 0.~~000000~~077220% 0.000000% 0.~~219298~~308880% 0.~~213519~~309738% 0.~~000000~~078832% 0.000000% 0.~~213519~~388570% 30 Days 2.~~266082~~316602% 0.~~073099~~000000% 0.000000% 0.000000% 2.~~339181~~316602% 2.~~056104~~403693% 0.~~117287~~000000% 0.000000% 0.000000% 2.~~173391~~403693% 60 Days 0.~~438596~~617761% 0.000000% 0.~~146199~~308880% 0.000000% 0.~~584795~~926641% 0.~~463944~~867102% 0.000000% 0.~~094433~~250227% 0.000000% 01.~~558377~~117329% 90 Days 0.~~000000~~386100% 0.000000% 0.~~073099~~386100% 0.~~000000~~154440% 0.~~073099~~926641% 0.~~000000~~302206% 0.000000% 0.~~059430~~269950% 0.~~000000~~109009% 0.~~059430~~681166% 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 23.~~704678~~320463% 0.~~292398~~231660% 0.~~219298~~772201% 0.~~000000~~154440% 34.~~216374~~478764% 23.~~520048~~573001% 0.~~330805~~309738% 0.~~153862~~599009% 0.~~000000~~109009% 34.~~004716~~590758% 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 01 0 0 01 0273,706.0098 0.00 0.00 0273,706.0098 30 Days 3 0 0 0 3 ~~438~~241,~~543~~294.8848 0.00 0.00 0.00 ~~438~~241,~~543~~294.8848 60 Days 12 0 0 0 12 51193,~~997~~864.4817 0.00 0.00 0.00 51193,~~997~~864.4817 90 Days 01 0 01 0 02 052,049.0010 0.00 049,640.0003 0.00 0101,689.0013 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 46 01 01 0 48 ~~490~~487,~~541~~207.3675 0273,706.0098 049,640.0003 0.00 ~~490~~810,~~541~~554.3676 0-29 Days 0.~~000000~~211416% 0.000000% 0.000000% 0.~~000000~~211416% 0.~~000000~~408959% 0.000000% 0.000000% 0.~~000000~~408959% 30 Days 0.~~610998~~634249% 0.000000% 0.000000% 0.000000% 0.~~610998~~634249% 0.~~627109~~360530% 0.000000% 0.000000% 0.000000% 0.~~627109~~360530% 60 Days 0.~~203666~~422833% 0.000000% 0.000000% 0.000000% 0.~~203666~~422833% 0.~~074355~~289662% 0.000000% 0.000000% 0.000000% 0.~~074355~~289662% 90 Days 0.~~000000~~211416% 0.000000% 0.~~000000~~211416% 0.000000% 0.~~000000~~422833% 0.~~000000~~077769% 0.000000% 0.~~000000~~074170% 0.000000% 0.~~000000~~151939% 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 01.~~814664~~268499% 0.~~000000~~211416% 0.~~000000~~211416% 0.000000% 01.~~814664~~691332% 0.~~701464~~727960% 0.~~000000~~408959% 0.~~000000~~074170% 0.000000% 01.~~701464~~211088% 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 13 0 0 13 89293,~~687~~418.1600 0.00 0.00 89293,~~687~~418.1600 30 Days 2021 10 0 0 21 3,~~235~~140,~~231~~640.9096 ~~80,821~~0.6200 0.00 0.00 3,~~316~~140,~~053~~640.5296 60 Days 54 0 43 0 97 ~~758~~715,~~604~~443.5424 0.00 ~~425~~437,~~237~~920.1015 0.00 1,~~183~~153,~~841~~363.6439 90 Days 02 0 2 13 0 217 0323,340.0098 0140,244.0091 ~~363~~1,~~903~~707,156.4332 0.00 ~~363~~2,~~903~~170,742.4321 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 2527 25 616 0 3348 34,~~993~~179,~~836~~425.4418 ~~170~~433,~~508~~662.7891 ~~789~~2,~~140~~145,076.5347 0.00 46,~~953~~758,~~485~~164.7556 0-29 Days 0.~~082169~~265487% 0.000000% 0.000000% 0.~~082169~~265487% 0.~~047989~~171964% 0.000000% 0.000000% 0.~~047989~~171964% 30 Days 1.~~643385~~858407% 0.~~082169~~000000% 0.000000% 0.000000% 1.~~725555~~858407% 1.~~731062~~840639% 0.~~043245~~000000% 0.000000% 0.000000% 1.~~774307~~840639% 60 Days 0.~~410846~~353982% 0.000000% 0.~~328677~~265487% 0.000000% 0.~~739523~~619469% 0.~~405903~~419301% 0.000000% 0.~~227530~~256652% 0.000000% 0.~~633433~~675953% 90 Days 0.~~000000~~176991% 0.~~000000~~176991% 01.~~164339~~150442% 0.000000% 01.~~164339~~504425% 0.~~000000~~189501% 0.~~000000~~082193% 01.~~194712~~000515% 0.000000% 01.~~194712~~272209% 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 2.~~054232~~389381% 0.~~164339~~442478% 01.~~493016~~415929% 0.000000% 24.~~711586~~247788% 2.~~136966~~449440% 0.~~091233~~254157% 01.~~422242~~257167% 0.000000% 23.~~650441~~960764% 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 01 0 0 01 062,477.0065 0.00 0.00 062,477.0065 30 Days 40 0 0 0 40 ~~466,314~~0.1900 0.00 0.00 0.00 ~~466,314~~0.1900 60 Days 0 0 01 0 01 0.00 0.00 0118,812.0041 0.00 0118,812.0041 90 Days 0 0 01 0 01 0.00 0.00 053,988.0084 0.00 053,988.0084 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 4 0 01 2 0 43 ~~466,314.19~~ 0.00 062,477.0065 172,801.25 0.00 ~~466~~235,~~314~~278.1990 0-29 Days 0.~~000000~~602410% 0.000000% 0.000000% 0.~~000000~~602410% 0.~~000000~~185731% 0.000000% 0.000000% 0.~~000000~~185731% 30 Days 20.~~298851~~000000% 0.000000% 0.000000% 0.000000% 20.~~298851~~000000% 10.~~334370~~000000% 0.000000% 0.000000% 0.000000% 10.~~334370~~000000% 60 Days 0.000000% 0.000000% 0.~~000000~~602410% 0.000000% 0.~~000000~~602410% 0.000000% 0.000000% 0.~~000000~~353200% 0.000000% 0.~~000000~~353200% 90 Days 0.000000% 0.000000% 0.~~000000~~602410% 0.000000% 0.~~000000~~602410% 0.000000% 0.000000% 0.~~000000~~160496% 0.000000% 0.~~000000~~160496% 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 20.~~298851~~000000% 0.~~000000~~602410% 01.~~000000~~204819% 0.000000% 21.~~298851~~807229% 10.~~334370~~000000% 0.~~000000~~185731% 0.~~000000~~513696% 0.000000% 10.~~334370~~699427% 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 1 0 0 1 155,~~307~~025.5212 0.00 0.00 155,~~307~~025.5212 30 Days 1016 0 0 0 1016 23,~~219~~533,~~300~~498.7745 0.00 0.00 0.00 23,~~219~~533,~~300~~498.7745 60 Days 23 0 06 0 29 ~~466~~365,~~863~~338.5519 0.00 0492,914.0090 0.00 ~~466~~858,~~863~~253.5509 90 Days 32 0 03 0 35 ~~222~~467,~~766~~690.0317 0.00 0216,123.0037 0.00 ~~222~~683,~~766~~813.0354 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 1521 1 09 0 1631 24,~~908~~366,~~930~~526.3581 155,~~307~~025.5212 0709,038.0027 0.00 35,~~064~~230,~~237~~590.8720 0-29 Days 0.~~160514~~166945% 0.000000% 0.000000% 0.~~160514~~166945% 0.~~114205~~119460% 0.000000% 0.000000% 0.~~114205~~119460% 30 Days 12.~~605136~~671119% 0.000000% 0.000000% 0.000000% 12.~~605136~~671119% 12.~~631952~~722851% 0.000000% 0.000000% 0.000000% 12.~~631952~~722851% 60 Days 0.~~321027~~500835% 0.000000% 01.~~000000~~001669% 0.000000% 01.~~321027~~502504% 0.~~343306~~281523% 0.000000% 0.~~000000~~379831% 0.000000% 0.~~343306~~661355% 90 Days 0.~~481541~~333890% 0.000000% 0.~~000000~~500835% 0.000000% 0.~~481541~~834725% 0.~~163810~~360394% 0.000000% 0.~~000000~~166541% 0.000000% 0.~~163810~~526935% 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 23.~~407705~~505843% 0.~~160514~~166945% 01.~~000000~~502504% 0.000000% 25.~~568218~~175292% 23.~~139067~~364768% 0.~~114205~~119460% 0.~~000000~~546372% 0.000000% 24.~~253272~~030600%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 69111,~~459~~948.3192

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~123879~~118542% Weighted Average Net Coupon 6.~~823879~~818542% Weighted Average Pass-Through Rate 6.~~781248~~818542% Weighted Average Maturity(Stepdown Calculation ) ~~353~~351 Beginning Scheduled Collateral Loan Count 4,~~514~~313 Number Of Loans Paid In Full 84114 Ending Scheduled Collateral Loan Count 4,~~430~~199 Beginning Scheduled Collateral Balance ~~718~~680,~~943~~791,~~793~~957.1173 Ending Scheduled Collateral Balance ~~703~~660,~~573~~139,~~633~~847.4166 Ending Actual Collateral Balance at 31-~~Aug~~Oct-2004 ~~703~~660,~~795~~381,~~030~~474.0203 Monthly P &I Constant 4,~~898~~640,~~118~~621.5108 Special Servicing Fee 0.00 Prepayment Penalties ~~253,375~~0.5700 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~630~~602,~~061~~082.2870 Unscheduled Principal 1420,~~740~~050,~~098~~027.4237 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 13,558,888.61 Overcollateralized Amount 13,558,888.61 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00

Miscellaneous Reporting Credit Enhancement Percentage 2122.~~4164~~82545% Net WAC Rate 6.~~164771~~351152% Overcollateralized Amt 13,558,888.61 Overcollateralization Deficiency 0.00 Overcollateralization Increase 0.00 Overcollateralization Release 0.00 Overcollateralization Target 13,558,888.61 Net Monthly Excess Cash Amount ~~2,737,430~~2431982.5609 Payment under CAP Agreement 0.00 Has Stepdown Date Occurred NO In Trigger Event NO A1 PTR (excl CAP) for Next Distribution 2.0640000 A1A PTR (excl CAP) for Next Distribution 2.2256000 A2 PTR (excl CAP) for Next Distribution 2.0842000 A2A PTR (excl CAP) for Next Distribution 2.1347000 A3 PTR (excl CAP) for Next Distribution 12.9933000 A3A PTR (excl CAP) for Next Distribution 2.2458000 M1 PTR (excl CAP) for Next Distribution 2.3872000 M2 PTR (excl CAP) for Next Distribution 23.9630000 M3 PTR (excl CAP) for Next Distribution 3.2458000 M4 PTR (excl CAP) for Next Distribution 3.4478000 M5 PTR (excl CAP) for Next Distribution 3.5488000 M6 PTR (excl CAP) for Next Distribution 4.5993000 M7 PTR (excl CAP) for Next Distribution 5.5993000

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.~~180513~~282500 7.~~138947~~145782 7.~~010033~~146679 Weighted Average Net Rate 6.~~880514~~982500 6.~~838946~~845782 6.~~710034~~846679 Weighted Average Maturity ~~352~~350 ~~352~~350 ~~353~~351 Beginning Loan Count ~~564~~548 1,~~396~~335 ~~498~~483 Loans Paid In Full 712 2840 710 Ending Loan Count ~~557~~536 1,~~368~~295 ~~491~~473 Beginning Scheduled Balance 7673,~~476~~925,~~023~~956.6865 ~~205~~193,~~375~~959,~~164~~172.2886 7168,~~094~~575,~~878~~455.8297 Ending scheduled Balance 7572,~~402~~069,~~683~~421.7225 ~~200~~187,~~547~~255,~~617~~255.4847 6966,~~908~~905,~~642~~650.3301 Record Date 0810/31/2004 0810/31/2004 0810/31/2004 Principal And Interest Constant ~~542~~525,~~962~~803.5399 1,~~391~~315,~~858~~708.3714 ~~495~~477,~~410~~761.7183 Scheduled Principal 7877,~~752~~165.8387 ~~169~~160,~~538~~716.0648 7169,~~457~~356.4218 Unscheduled Principal ~~994~~1,~~587~~779,369.1353 46,~~658~~543,~~008~~200.7491 1,~~114~~600,~~779~~449.0778 Scheduled Interest ~~464~~448,~~209~~638.7012 1,~~222~~154,~~320~~991.3166 ~~423~~408,~~953~~405.2965 Servicing Fees 1918,~~119~~481.0149 5148,~~343~~489.79 17,~~773~~143.7286 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 ~~445~~430,~~090~~156.6963 1,~~170~~106,~~976~~501.5287 ~~406~~391,~~179~~261.5779 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.~~838280~~982500 6.~~795859~~845782 6.~~667443~~846679

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.~~132660~~120637 6.~~988883~~957721 7.~~015522~~011576 Weighted Average Net Rate 6.~~832660~~820637 6.~~688883~~657721 6.~~715522~~711576 Weighted Average Maturity 351 353 ~~355~~353 ~~355~~ Beginning Loan Count 1,~~241~~170 ~~181~~168 ~~634~~609 Loans Paid In Full 2440 72 1110 Ending Loan Count 1,~~217~~130 ~~174~~166 ~~623~~599 Beginning Scheduled Balance ~~191~~177,~~088~~470,~~768~~683.1235 3634,~~037~~482,~~667~~398.4927 ~~138~~132,~~871~~378,290.7263 Ending scheduled Balance ~~186~~170,~~831~~559,~~616~~954.2457 3433,~~938~~629,~~218~~316.2026 ~~135~~129,~~944~~720,~~855~~250.4410 Record Date 0810/31/2004 0810/31/2004 0810/31/2004 Principal And Interest Constant 1,~~294~~200,~~314~~332.3484 ~~243~~232,~~270~~563.7061 ~~930~~888,~~301~~450.8667 Scheduled Principal ~~158~~147,~~505~~245.0697 3332,~~384~~631.8318 ~~118~~114,~~423~~967.0802 Unscheduled Principal 46,~~098~~763,~~646~~482.8281 1820,~~066,064~~450.4683 2,~~808~~543,~~012~~073.2051 Scheduled Interest 1,~~135~~053,~~809~~086.2887 ~~209~~199,~~885~~932.8743 ~~811~~773,~~878~~483.7865 Servicing Fees 4744,~~772~~367.1967 98,~~009~~620.4260 3433,~~717~~094.8257 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,~~088~~008,~~037~~719.0920 ~~200~~191,~~876~~311.4583 ~~777~~740,~~160~~389.9608 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.~~832660~~820637 6.~~688883~~657721 6.~~715522~~711576

Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~123879~~118542 Weighted Average Net Rate 6.~~823879~~818542 Weighted Average Maturity ~~353~~351.00 Record Date 0810/31/2004 Principal And Interest Constant 4,~~898~~640,~~118~~621.5108 Beginning Loan Count 4,~~514~~313 Loans Paid In Full 84114 Ending Loan Count 4,~~430~~199 Beginning Scheduled Balance ~~718~~680,~~943~~791,~~793~~957.1173 Ending Scheduled Balance ~~703~~660,~~573~~139,~~633~~847.4166 Scheduled Principal ~~630~~602,~~061~~082.2870 Unscheduled Principal 1420,~~740~~050,~~098~~027.4237 Scheduled Interest 4,~~268~~038,~~057~~538.2338 Servicing Fee ~~179~~170,~~735~~197.9598 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 43,~~088~~868,~~321~~340.2840 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.~~781248~~818542

Filing Compare · Asset Back Pass-Through Certificates, Series 2004-HE3