8-K 1 mit04001_dec.txt DECEMBER 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): December 27, 2004 MORTGAGE IT TRUST Mortgage-Backed Notes, Series 2004-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-115122-22 N/A Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction of Incorporation) 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 December 27, 2004 a distribution was made to holders of MORTGAGE IT TRUST, Mortgage-Backed Notes, Series 2004-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2004-1 Trust, relating to the December 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. MORTGAGE IT TRUST Mortgage-Backed Notes, Series 2004-1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 12/29/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2004-1 Trust, relating to the December 27, 2004 distribution. EX-99.1

MortgageIT Trust Mortgage ~~Pass~~-~~Through~~Backed ~~Certificates~~Notes Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~MIT~~MortgageIT Trust Mortgage-Backed Notes Series: 2004-1 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 61913PAA0 SEN 2.~~32250~~57000% ~~615~~607,~~889~~876,~~726~~779.2271 1,~~271~~345,~~470~~265.1208 810,~~012~~957,~~946~~759.5135 A-2 61913PAF9 SEN 2.~~38250~~63000% 6867,~~432~~541,~~302~~973.7289 ~~144~~152,~~924~~963.4181 ~~890~~1,~~328~~217,530.8379 M-1 61913PAB8 MEZ 2.~~48250~~73000% 3635,~~443~~969,~~852~~704.4787 8084,~~419~~558.4378 ~~474~~648,~~147~~400.6111 M-2 61913PAC6 MEZ 2.~~60250~~85000% 3029,~~369~~974,~~211~~097.5318 7073,~~254~~561.1143 ~~395~~540,~~114~~321.3558 B-1 61913PAD4 SUB 3.~~13250~~38000% 39,~~682~~166,~~329~~048.9155 ~~110~~113,~~493~~994.2496 ~~516~~706,~~281~~018.3631 B-2 61913PAE2 SUB 4.~~08250~~33000% 1615,~~195~~984,~~689~~977.5783 5859,~~772~~601.3677 ~~210~~288,~~711~~149.7475 Owner Trust MORTGA041OT OT 0.00000% 0.00 1,~~627~~489,~~582~~884.2975 0.00 Totals ~~807~~796,~~013~~513,~~112~~582.4203 3,~~363~~319,~~915~~830.9658 1014,~~499~~358,~~530~~179.4089

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~607~~596,~~876~~919,~~779~~020.7136 912,~~284~~303,~~416~~024.6343 0.00 A-2 0.00 6766,~~541~~324,~~973~~443.8910 1,~~035~~370,~~253~~494.2460 0.00 M-1 0.00 35,~~969~~321,~~704~~304.8776 ~~554~~732,~~567~~958.0489 0.00 M-2 0.00 29,~~974~~433,~~097~~775.1860 ~~465~~613,~~368~~883.4601 0.00 B-1 0.00 3938,~~166~~460,~~048~~030.5525 ~~626~~820,~~774~~013.6027 0.00 B-2 0.00 15,~~984~~696,~~977~~828.8308 ~~269~~347,~~484~~751.1052 0.00 Owner Trust 0.00 0.00 1,~~627~~489,~~582~~884.2975 0.00 Totals 0.00 ~~796~~782,~~513~~155,~~582~~402.0315 1317,~~863~~678,~~446~~010.3647 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) A-1 616,940,000.00 ~~615~~607,~~889~~876,~~726~~779.2271 0.00 810,~~012~~957,~~946~~759.5135 0.00 0.00 A-2 68,549,000.00 6867,~~432~~541,~~302~~973.7289 0.00 ~~890~~1,~~328~~217,530.8379 0.00 0.00 M-1 36,506,000.00 3635,~~443~~969,~~852~~704.4787 0.00 ~~474~~648,~~147~~400.6111 0.00 0.00 M-2 30,421,000.00 3029,~~369~~974,~~211~~097.5318 0.00 ~~395~~540,~~114~~321.3558 0.00 0.00 B-1 39,750,000.00 39,~~682~~166,~~329~~048.9155 0.00 ~~516~~706,~~281~~018.3631 0.00 0.00 B-2 16,223,308.00 1615,~~195~~984,~~689~~977.5783 0.00 ~~210~~288,~~711~~149.7475 0.00 0.00 Owner Trust 0.00 0.00 0.00 0.00 0.00 0.00 Totals 808,389,308.00 ~~807~~796,~~013~~513,~~112~~582.4203 0.00 1014,~~499~~358,~~530~~179.4089 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 A-1 810,~~012~~957,~~946~~759.5135 ~~607~~596,~~876~~919,~~779~~020.7136 0.~~98530940~~96754793 810,~~012~~957,~~946~~759.5135 A-2 ~~890~~1,~~328~~217,530.8379 6766,~~541~~324,~~973~~443.8910 0.~~98530940~~96754793 ~~890~~1,~~328~~217,530.8379 M-1 ~~474~~648,~~147~~400.6111 35,~~969~~321,~~704~~304.8776 0.~~98530940~~96754793 ~~474~~648,~~147~~400.6111 M-2 ~~395~~540,~~114~~321.3558 29,~~974~~433,~~097~~775.1860 0.~~98530940~~96754793 ~~395~~540,~~114~~321.3558 B-1 ~~516~~706,~~281~~018.3631 3938,~~166~~460,~~048~~030.5525 0.~~98530940~~96754793 ~~516~~706,~~281~~018.3631 B-2 ~~210~~288,~~711~~149.7475 15,~~984~~696,~~977~~828.8308 0.~~98530940~~96754793 ~~210~~288,~~711~~149.7475 Owner Trust 0.00 0.00 0.00000000 0.00 Totals 1014,~~499~~358,~~530~~179.4089 ~~796~~782,~~513~~155,~~582~~402.0315 0.~~98530940~~96754793 1014,~~499~~358,~~530~~179.4089

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 616,940,000.00 ~~998~~985.~~29760790~~30939753 0.00000000 1217.~~98821038~~76146684 0.00000000 A-2 68,549,000.00 ~~998~~985.~~29760784~~30939751 0.00000000 1217.~~98821033~~76146683 0.00000000 M-1 36,506,000.00 ~~998~~985.~~29760779~~30939763 0.00000000 1217.~~98821043~~76146688 0.00000000 M-2 30,421,000.00 ~~998~~985.~~29760790~~30939746 0.00000000 1217.~~98821045~~76146675 0.00000000 B-1 39,750,000.00 ~~998~~985.~~29760780~~30939748 0.00000000 1217.~~98821031~~76146692 0.00000000 B-2 16,223,308.00 ~~998~~985.~~29760798~~30939744 0.00000000 1217.~~98821054~~76146702 0.00000000 Owner Trust 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 A-1 0.00000000 1217.~~98821038~~76146684 ~~985~~967.~~30939753~~54793069 0.~~98530940~~96754793 1217.~~98821038~~76146684 A-2 0.00000000 1217.~~98821033~~76146683 ~~985~~967.~~30939751~~54793068 0.~~98530940~~96754793 1217.~~98821033~~76146683 M-1 0.00000000 1217.~~98821043~~76146688 ~~985~~967.~~30939763~~54793075 0.~~98530940~~96754793 1217.~~98821043~~76146688 M-2 0.00000000 1217.~~98821045~~76146675 ~~985~~967.~~30939746~~54793071 0.~~98530940~~96754793 1217.~~98821045~~76146675 B-1 0.00000000 1217.~~98821031~~76146692 ~~985~~967.~~30939748~~54793082 0.~~98530940~~96754793 1217.~~98821031~~76146692 B-2 0.00000000 1217.~~98821054~~76146702 ~~985~~967.~~30939744~~54793042 0.~~98530940~~96754793 1217.~~98821054~~76146702 Owner Trust 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 A-1 616,940,000.00 2.~~32250~~57000% ~~615~~607,~~889~~876,~~726~~779.2271 1,~~271~~345,~~470~~265.1208 0.00 0.00 A-2 68,549,000.00 2.~~38250~~63000% 6867,~~432~~541,~~302~~973.7289 ~~144~~152,~~924~~963.4181 0.00 0.00 M-1 36,506,000.00 2.~~48250~~73000% 3635,~~443~~969,~~852~~704.4787 8084,~~419~~558.4378 0.00 0.00 M-2 30,421,000.00 2.~~60250~~85000% 3029,~~369~~974,~~211~~097.5318 7073,~~254~~561.1143 0.00 0.00 B-1 39,750,000.00 3.~~13250~~38000% 39,~~682~~166,~~329~~048.9155 ~~110~~113,~~493~~994.2496 0.00 0.00 B-2 16,223,308.00 4.~~08250~~33000% 1615,~~195~~984,~~689~~977.5783 5859,~~772~~601.3677 0.00 0.00 Owner Trust 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 808,389,308.00 1,~~736~~829,~~333~~945.6783 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 A-1 0.00 0.00 1,~~271~~345,~~470~~265.1208 0.00 ~~607~~596,~~876~~919,~~779~~020.7136 A-2 0.00 0.00 ~~144~~152,~~924~~963.4181 0.00 6766,~~541~~324,~~973~~443.8910 M-1 0.00 0.00 8084,~~419~~558.4378 0.00 35,~~969~~321,~~704~~304.8776 M-2 0.00 0.00 7073,~~254~~561.1143 0.00 29,~~974~~433,~~097~~775.1860 B-1 0.00 0.00 ~~110~~113,~~493~~994.2496 0.00 3938,~~166~~460,~~048~~030.5525 B-2 0.00 0.00 5859,~~772~~601.3677 0.00 15,~~984~~696,~~977~~828.8308 Owner Trust 0.00 0.00 1,~~627~~489,~~582~~884.2975 0.00 0.00 Totals 0.00 0.00 3,~~363~~319,~~915~~830.9658 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 A-1 616,940,000.00 2.~~32250~~57000% ~~998~~985.~~29760790~~30939753 2.~~06092994~~18054443 0.00000000 0.00000000 A-2 68,549,000.00 2.~~38250~~63000% ~~998~~985.~~29760784~~30939751 2.~~11417249~~23145210 0.00000000 0.00000000 M-1 36,506,000.00 2.~~48250~~73000% ~~998~~985.~~29760779~~30939763 2.~~20290993~~31629814 0.00000000 0.00000000 M-2 30,421,000.00 2.~~60250~~85000% ~~998~~985.~~29760790~~30939746 2.~~30939515~~41811347 0.00000000 0.00000000 B-1 39,750,000.00 3.~~13250~~38000% ~~998~~985.~~29760780~~30939748 2.~~77970415~~86779774 0.00000000 0.00000000 B-2 16,223,308.00 4.~~08250~~33000% ~~998~~985.~~29760798~~30939744 3.~~62271123~~67383582 0.00000000 0.00000000 Owner Trust 0.00 0.00000% 0.00000000 0.00000000 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 A-1 0.00000000 0.00000000 2.~~06092994~~18054443 0.00000000 ~~985~~967.~~30939753~~54793069 A-2 0.00000000 0.00000000 2.~~11417249~~23145210 0.00000000 ~~985~~967.~~30939751~~54793068 M-1 0.00000000 0.00000000 2.~~20290993~~31629814 0.00000000 ~~985~~967.~~30939763~~54793075 M-2 0.00000000 0.00000000 2.~~30939515~~41811347 0.00000000 ~~985~~967.~~30939746~~54793071 B-1 0.00000000 0.00000000 2.~~77970415~~86779774 0.00000000 ~~985~~967.~~30939748~~54793082 B-2 0.00000000 0.00000000 3.~~62271123~~67383582 0.00000000 ~~985~~967.~~30939744~~54793042 Owner Trust 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 1417,~~068~~941,~~195~~433.4881 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 5242,~~359~~064.1422 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1417,~~120~~983,~~554~~498.6203 Withdrawals Reimbursement for Servicer Advances ~~654~~52,359.9914 Payment of Service Fee ~~256~~253,~~453~~128.2742 Payment of Interest and Principal 1317,~~863~~678,~~446~~010.3647 Total Withdrawals (Pool Distribution Amount) 1417,~~120~~983,~~554~~498.6203 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~253~~249,~~078~~797.8878 Master Servicing Fee 3,~~374~~330.3964 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~256~~253,~~453~~128.2742

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 3427 0 0 0 3427 118,~~634~~397,~~429~~985.7439 0.00 0.00 0.00 118,~~634~~397,~~429~~985.7439 60 Days 05 0 0 0 05 01,234,200.00 0.00 0.00 0.00 01,234,200.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 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 3432 0 0 0 3432 119,~~634~~632,~~429~~185.7439 0.00 0.00 0.00 119,~~634~~632,~~429~~185.7439 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~227880~~987925% 0.000000% 0.000000% 0.000000% 10.~~227880~~987925% 1.~~455286~~069666% 0.000000% 0.000000% 0.000000% 1.~~455286~~069666% 60 Days 0.~~000000~~182949% 0.000000% 0.000000% 0.000000% 0.~~000000~~182949% 0.~~000000~~157202% 0.000000% 0.000000% 0.000000% 0.~~000000~~157202% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 1.~~227880~~170874% 0.000000% 0.000000% 0.000000% 1.~~227880~~170874% 1.~~455286~~226868% 0.000000% 0.000000% 0.000000% 1.~~455286~~226868%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 5242,~~359~~064.1422

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~364487~~363777% Weighted Average Net Coupon 4.~~989487~~988777% Weighted Average Pass-Through Rate 4.~~984487~~983777% Weighted Average Maturity(Stepdown Calculation ) ~~358~~357 Beginning Scheduled Collateral Loan Count 2,~~794~~769 Number Of Loans Paid In Full 2536 Ending Scheduled Collateral Loan Count 2,~~769~~733 Beginning Scheduled Collateral Balance ~~809~~799,~~852~~352,~~412~~882.5616 Ending Scheduled Collateral Balance ~~799~~784,~~352~~994,~~882~~702.1628 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~799~~785,~~459~~103,~~842~~517.2637 Monthly P &I Constant 3,~~814~~766,~~383~~223.7231 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~194~~193,~~015~~264.0578 Unscheduled Principal 1014,~~305~~164,~~515~~915.3510 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,839,300.13 Overcollateralized Amount 2,839,300.13 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 1,~~627~~489,~~582~~884.2975

Miscellaneous Reporting BSB 3 -Year Hybrid Mortgage Loans ~~344~~339,~~075~~632,~~297~~036.0379 ESB 3 -Year Hybrid Mortgage Loans ~~339~~333,~~632~~349,~~036~~800.7919 BSB 5 -Year Hybrid Mortgage Loans ~~439~~434,~~933~~916,~~994~~218.0931 ESB 5 -Year Hybrid Mortgage Loans ~~434~~428,~~916~~002,~~218~~103.3138 Average Loss Severity Percentage 0.000000% Yield Maintenance Amount 0.00

Filing Compare · MortgageIT Trust 2004-1