8-K 1 pps04wc2_dec.txt DECEMBER 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): December 27, 2004 PARK PLACE SECURITIES, INC. Asset Backed Pass-Through Certificates, Series 2004-WCW2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-118640-01 54-2161211 Pooling and Servicing Agreement) (Commission 54-2161240 (State or other File Number) 54-2162525 jurisdiction 54-2162526 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 December 27, 2004 a distribution was made to holders of PARK PLACE SECURITIES, INC., Asset Backed Pass-Through Certificates, Series 2004-WCW2 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-WCW2 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. PARK PLACE SECURITIES, INC. Asset Backed Pass-Through Certificates, Series 2004-WCW2 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: 12/29/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2004-WCW2 Trust, relating to the December 27, 2004 distribution. EX-99.1

Park Place Securities, Inc Asset Backed Pass-Through Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~PPS~~Park Place Securities, Inc Asset Backed Pass-Through Certificates Series: 2004-~~WC2~~WCW2 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 A1 70069FAQ0 SEN 2.~~23500~~48250% 1,~~600~~553,~~593~~046,~~687~~300.2470 3,~~179~~319,~~846~~960.1302 4746,~~547~~718,~~386~~343.5404 A2 70069FAR8 SEN 2.~~31250~~56000% ~~246~~239,~~073~~357,~~443~~202.0276 ~~505~~527,~~817~~649.6366 610,~~716~~518,~~240~~983.2632 A3 70069FAS6 SEN 2.~~10250~~35000% 9792,~~239~~519,~~991~~092.6968 ~~181~~187,~~730~~222.7466 47,~~720~~393,~~899~~877.0153 A4 70069FAT4 SEN 2.~~27250~~52000% 39,300,000.00 7985,~~386~~281.00 0.00 A5 70069FAU1 SEN 2.~~46250~~71000% 36,427,000.00 7985,~~734~~006.6645 0.00 A6 70069FAV9 SEN 2.~~08250~~33000% 9184,~~187~~735,~~929~~932.4898 ~~168~~170,~~798~~013.9923 610,~~451~~105,~~996~~124.5044 A7 70069FAW7 SEN 2.~~36250~~61000% 145,204,000.00 ~~304~~326,~~928~~345.4099 0.00 M1 70069FAX5 MEZ 2.~~55250~~80000% 147,000,000.00 ~~333~~354,~~526~~433.6733 0.00 M2 70069FAY3 MEZ 2.~~58250~~83000% 120,000,000.00 ~~275~~292,~~466~~433.6733 0.00 M3 70069FAZ0 MEZ 2.~~63250~~88000% 54,000,000.00 ~~126~~133,~~360~~920.00 0.00 M4 70069FBA4 MEZ 3.~~11250~~36000% 52,500,000.00 ~~145~~151,~~250~~900.00 0.00 M5 70069FBB2 MEZ 3.~~18250~~43000% 51,000,000.00 ~~144~~150,~~273~~634.3317 0.00 M6 70069FBC0 MEZ 3.~~38250~~63000% 37,500,000.00 ~~112~~117,~~750~~218.0075 0.00 M7 70069FBD8 MEZ 34.~~88250~~13000% 36,000,000.00 ~~124~~128,~~240~~030.00 0.00 M8 70069FBE6 MEZ 34.~~98250~~23000% 33,000,000.00 ~~116~~120,~~820~~202.0050 0.00 M9 70069FBF3 MEZ 5.~~43250~~68000% 39,000,000.00 ~~188~~190,~~326~~753.6733 0.00 M10 70069FBG1 MEZ 4.~~68250~~93000% 36,000,000.00 ~~149~~152,~~840~~830.00 0.00 CE 70069FBH9 SUB 0.00000% 106,500,000.00 1110,~~060~~393,~~891~~612.2503 0.00 P 70069FBJ5 SEN 0.00000% 100.00 ~~809~~1,~~326~~183,630.6602 0.00 R 70069FBK2 RES 0.00000% 0.00 0.00 0.00 Totals 2,~~968~~903,~~526~~089,~~151~~629.4312 18,~~087~~071,~~313~~076.8047 6574,~~436~~736,~~522~~328.3133

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 1,~~553~~506,~~046~~327,~~300~~957.7066 50,~~727~~038,~~232~~303.6706 0.00 A2 0.00 ~~239~~228,~~357~~838,~~202~~219.7644 711,~~222~~046,~~057~~632.8998 0.00 A3 0.00 9285,~~519~~125,~~092~~215.6815 47,~~902~~581,~~629~~100.7519 0.00 A4 0.00 39,300,000.00 7985,~~386~~281.00 0.00 A5 0.00 36,427,000.00 7985,~~734~~006.6645 0.00 A6 0.00 8474,~~735~~630,~~932~~808.9854 610,~~620~~275,~~795~~137.4967 0.00 A7 0.00 145,204,000.00 ~~304~~326,~~928~~345.4099 0.00 M1 0.00 147,000,000.00 ~~333~~354,~~526~~433.6733 0.00 M2 0.00 120,000,000.00 ~~275~~292,~~466~~433.6733 0.00 M3 0.00 54,000,000.00 ~~126~~133,~~360~~920.00 0.00 M4 0.00 52,500,000.00 ~~145~~151,~~250~~900.00 0.00 M5 0.00 51,000,000.00 ~~144~~150,~~273~~634.3317 0.00 M6 0.00 37,500,000.00 ~~112~~117,~~750~~218.0075 0.00 M7 0.00 36,000,000.00 ~~124~~128,~~240~~030.00 0.00 M8 0.00 33,000,000.00 ~~116~~120,~~820~~202.0050 0.00 M9 0.00 39,000,000.00 ~~188~~190,~~326~~753.6733 0.00 M10 0.00 36,000,000.00 ~~149~~152,~~840~~830.00 0.00 CE 0.00 106,500,000.00 1110,~~060~~393,~~891~~612.2503 0.00 P 0.00 100.00 ~~809~~1,~~326~~183,630.6602 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 2,~~903~~828,~~089~~353,~~629~~300.1279 8392,~~523~~807,~~836~~404.1180 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) A1 1,621,609,000.00 1,~~600~~553,~~593~~046,~~687~~300.2470 21,~~403~~655,~~946~~166.3439 45,~~143~~063,~~440~~176.2065 0.00 0.00 A2 250,000,000.00 ~~246~~239,~~073~~357,~~443~~202.0276 ~~269~~265,~~698~~436.2206 610,~~446~~253,~~542~~547.0426 0.00 0.00 A3 100,000,000.00 9792,~~239~~519,~~991~~092.6968 ~~189~~186,~~573~~577.0313 47,~~531~~207,~~325~~300.9740 0.00 0.00 A4 39,300,000.00 39,300,000.00 0.00 0.00 0.00 0.00 A5 36,427,000.00 36,427,000.00 0.00 0.00 0.00 0.00 A6 94,960,000.00 9184,~~187~~735,~~929~~932.4898 ~~259~~254,~~087~~992.2174 69,~~192~~850,~~909~~131.2970 0.00 0.00 A7 145,204,000.00 145,204,000.00 0.00 0.00 0.00 0.00 M1 147,000,000.00 147,000,000.00 0.00 0.00 0.00 0.00 M2 120,000,000.00 120,000,000.00 0.00 0.00 0.00 0.00 M3 54,000,000.00 54,000,000.00 0.00 0.00 0.00 0.00 M4 52,500,000.00 52,500,000.00 0.00 0.00 0.00 0.00 M5 51,000,000.00 51,000,000.00 0.00 0.00 0.00 0.00 M6 37,500,000.00 37,500,000.00 0.00 0.00 0.00 0.00 M7 36,000,000.00 36,000,000.00 0.00 0.00 0.00 0.00 M8 33,000,000.00 33,000,000.00 0.00 0.00 0.00 0.00 M9 39,000,000.00 39,000,000.00 0.00 0.00 0.00 0.00 M10 36,000,000.00 36,000,000.00 0.00 0.00 0.00 0.00 CE 106,499,871.03 106,500,000.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 2,999,999,971.03 2,~~968~~903,~~526~~089,~~151~~629.4312 32,~~122~~362,~~304~~172.8032 6272,~~314~~374,~~217~~156.5001 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 A1 4746,~~547~~718,~~386~~343.5404 1,~~553~~506,~~046~~327,~~300~~957.7066 0.~~95771934~~92890947 4746,~~547~~718,~~386~~343.5404 A2 610,~~716~~518,~~240~~983.2632 ~~239~~228,~~357~~838,~~202~~219.7644 0.~~95742881~~91535288 610,~~716~~518,~~240~~983.2632 A3 47,~~720~~393,~~899~~877.0153 9285,~~519~~125,~~092~~215.6815 0.~~92519093~~85125215 47,~~720~~393,~~899~~877.0153 A4 0.00 39,300,000.00 1.00000000 0.00 A5 0.00 36,427,000.00 1.00000000 0.00 A6 610,~~451~~105,~~996~~124.5044 8474,~~735~~630,~~932~~808.9854 0.~~89233291~~78591837 610,~~451~~105,~~996~~124.5044 A7 0.00 145,204,000.00 1.00000000 0.00 M1 0.00 147,000,000.00 1.00000000 0.00 M2 0.00 120,000,000.00 1.00000000 0.00 M3 0.00 54,000,000.00 1.00000000 0.00 M4 0.00 52,500,000.00 1.00000000 0.00 M5 0.00 51,000,000.00 1.00000000 0.00 M6 0.00 37,500,000.00 1.00000000 0.00 M7 0.00 36,000,000.00 1.00000000 0.00 M8 0.00 33,000,000.00 1.00000000 0.00 M9 0.00 39,000,000.00 1.00000000 0.00 M10 0.00 36,000,000.00 1.00000000 0.00 CE 0.00 106,500,000.00 1.00000121 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 6574,~~436~~736,~~522~~328.3133 2,~~903~~828,~~089~~353,~~629~~300.1279 0.~~96769655~~94278444 6574,~~436~~736,~~522~~328.3133

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 1,621,609,000.00 ~~987~~957.~~04045626~~71933968 1.~~48244511~~02069388 27.~~83867147~~78917523 0.00000000 A2 250,000,000.00 ~~984~~957.~~29377208~~42881104 1.~~07879288~~06174424 2541.~~78616816~~01418904 0.00000000 A3 100,000,000.00 ~~972~~925.~~39991690~~19092680 1.~~89573030~~86577130 4572.~~31325970~~07300400 0.00000000 A4 39,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A5 36,427,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A6 94,960,000.00 ~~960~~892.~~27726917~~33290838 2.~~72838258~~68526474 65103.~~21597820~~72927233 0.00000000 A7 145,204,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 147,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 120,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 54,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 52,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 51,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 37,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 36,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M8 33,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M9 39,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M10 36,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 106,499,871.03 1000.00121099 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 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 A1 0.00000000 2928.~~32111658~~80986911 ~~957~~928.~~71933968~~90947057 0.~~95771934~~92890947 2928.~~32111658~~80986911 A2 0.00000000 2642.~~86496104~~07593328 ~~957~~915.~~42881104~~35287776 0.~~95742881~~91535288 2642.~~86496104~~07593328 A3 0.00000000 4773.~~20899010~~93877530 ~~925~~851.~~19092680~~25215150 0.~~92519093~~85125215 4773.~~20899010~~93877530 A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A6 0.00000000 67106.~~94436078~~41453707 ~~892~~785.~~33290838~~91837131 0.~~89233291~~78591837 67106.~~94436078~~41453707 A7 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 M8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 1,000.00121099 1.00000121 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 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 A1 1,621,609,000.00 2.~~23500~~48250% 1,~~600~~553,~~593~~046,~~687~~300.2470 3,~~179~~319,~~846~~960.1302 0.00 0.00 A2 250,000,000.00 2.~~31250~~56000% ~~246~~239,~~073~~357,~~443~~202.0276 ~~505~~527,~~817~~649.6366 0.00 0.00 A3 100,000,000.00 2.~~10250~~35000% 9792,~~239~~519,~~991~~092.6968 ~~181~~187,~~730~~222.7466 0.00 0.00 A4 39,300,000.00 2.~~27250~~52000% 39,300,000.00 7985,~~386~~281.00 0.00 0.00 A5 36,427,000.00 2.~~46250~~71000% 36,427,000.00 7985,~~734~~006.6645 0.00 0.00 A6 94,960,000.00 2.~~08250~~33000% 9184,~~187~~735,~~929~~932.4898 ~~168~~170,~~798~~013.9923 0.00 0.00 A7 145,204,000.00 2.~~36250~~61000% 145,204,000.00 ~~304~~326,~~928~~345.4099 0.00 0.00 M1 147,000,000.00 2.~~55250~~80000% 147,000,000.00 ~~333~~354,~~526~~433.6733 0.00 0.00 M2 120,000,000.00 2.~~58250~~83000% 120,000,000.00 ~~275~~292,~~466~~433.6733 0.00 0.00 M3 54,000,000.00 2.~~63250~~88000% 54,000,000.00 ~~126~~133,~~360~~920.00 0.00 0.00 M4 52,500,000.00 3.~~11250~~36000% 52,500,000.00 ~~145~~151,~~250~~900.00 0.00 0.00 M5 51,000,000.00 3.~~18250~~43000% 51,000,000.00 ~~144~~150,~~273~~634.3317 0.00 0.00 M6 37,500,000.00 3.~~38250~~63000% 37,500,000.00 ~~112~~117,~~750~~218.0075 0.00 0.00 M7 36,000,000.00 34.~~88250~~13000% 36,000,000.00 ~~124~~128,~~240~~030.00 0.00 0.00 M8 33,000,000.00 34.~~98250~~23000% 33,000,000.00 ~~116~~120,~~820~~202.0050 0.00 0.00 M9 39,000,000.00 5.~~43250~~68000% 39,000,000.00 ~~188~~190,~~326~~753.6733 0.00 0.00 M10 36,000,000.00 4.~~68250~~93000% 36,000,000.00 ~~149~~152,~~840~~830.00 0.00 0.00 CE 106,499,871.03 0.00000% 106,500,000.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 2,999,999,971.03 6,~~217~~493,~~095~~834.8942 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 A1 0.00 0.00 3,~~179~~319,~~846~~960.1302 0.00 1,~~553~~506,~~046~~327,~~300~~957.7066 A2 0.00 0.00 ~~505~~527,~~817~~649.6366 0.00 ~~239~~228,~~357~~838,~~202~~219.7644 A3 0.00 0.00 ~~181~~187,~~730~~222.7466 0.00 9285,~~519~~125,~~092~~215.6815 A4 0.00 0.00 7985,~~386~~281.00 0.00 39,300,000.00 A5 0.00 0.00 7985,~~734~~006.6645 0.00 36,427,000.00 A6 0.00 0.00 ~~168~~170,~~798~~013.9923 0.00 8474,~~735~~630,~~932~~808.9854 A7 0.00 0.00 ~~304~~326,~~928~~345.4099 0.00 145,204,000.00 M1 0.00 0.00 ~~333~~354,~~526~~433.6733 0.00 147,000,000.00 M2 0.00 0.00 ~~275~~292,~~466~~433.6733 0.00 120,000,000.00 M3 0.00 0.00 ~~126~~133,~~360~~920.00 0.00 54,000,000.00 M4 0.00 0.00 ~~145~~151,~~250~~900.00 0.00 52,500,000.00 M5 0.00 0.00 ~~144~~150,~~273~~634.3317 0.00 51,000,000.00 M6 0.00 0.00 ~~112~~117,~~750~~218.0075 0.00 37,500,000.00 M7 0.00 0.00 ~~124~~128,~~240~~030.00 0.00 36,000,000.00 M8 0.00 0.00 ~~116~~120,~~820~~202.0050 0.00 33,000,000.00 M9 0.00 0.00 ~~188~~190,~~326~~753.6733 0.00 39,000,000.00 M10 0.00 0.00 ~~149~~152,~~840~~830.00 0.00 36,000,000.00 CE 0.00 0.00 1110,~~060~~393,~~891~~612.2503 0.00 106,500,000.00 P 0.00 0.00 ~~809~~1,~~326~~183,630.6602 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 18,~~087~~071,~~313~~076.8047 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 A1 1,621,609,000.00 2.~~23500~~48250% ~~987~~957.~~04045626~~71933968 12.~~96092038~~04732461 0.00000000 0.00000000 A2 250,000,000.00 2.~~31250~~56000% ~~984~~957.~~29377208~~42881104 2.~~02327052~~11059864 0.00000000 0.00000000 A3 100,000,000.00 2.~~10250~~35000% ~~972~~925.~~39991690~~19092680 1.~~81730740~~87222660 0.00000000 0.00000000 A4 39,300,000.00 2.~~27250~~52000% 1000.00000000 2.~~02000000~~17000000 0.00000000 0.00000000 A5 36,427,000.00 2.~~46250~~71000% 1000.00000000 2.~~18888901~~33361106 0.00000000 0.00000000 A6 94,960,000.00 2.~~08250~~33000% ~~960~~892.~~27726917~~33290838 1.~~77757993~~79036679 0.00000000 0.00000000 A7 145,204,000.00 2.~~36250~~61000% 1000.00000000 2.~~10000000~~24750000 0.00000000 0.00000000 M1 147,000,000.00 2.~~55250~~80000% 1000.00000000 2.~~26888891~~41111109 0.00000000 0.00000000 M2 120,000,000.00 2.~~58250~~83000% 1000.00000000 2.~~29555558~~43694442 0.00000000 0.00000000 M3 54,000,000.00 2.~~63250~~88000% 1000.00000000 2.~~34000000~~48000000 0.00000000 0.00000000 M4 52,500,000.00 3.~~11250~~36000% 1000.00000000 2.~~76666667~~89333333 0.00000000 0.00000000 M5 51,000,000.00 3.~~18250~~43000% 1000.00000000 2.~~82888882~~95361118 0.00000000 0.00000000 M6 37,500,000.00 3.~~38250~~63000% 1000.00000000 3.~~00666667~~12583333 0.00000000 0.00000000 M7 36,000,000.00 34.~~88250~~13000% 1000.00000000 3.~~45111111~~55638889 0.00000000 0.00000000 M8 33,000,000.00 34.~~98250~~23000% 1000.00000000 3.~~54000000~~64250000 0.00000000 0.00000000 M9 39,000,000.00 5.~~43250~~68000% 1000.00000000 4.~~82888897~~89111103 0.00000000 0.00000000 M10 36,000,000.00 4.~~68250~~93000% 1000.00000000 4.~~16222222~~24527778 0.00000000 0.00000000 CE 106,499,871.03 0.00000% 1000.00121099 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 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 A1 0.00000000 0.00000000 12.~~96092038~~04732461 0.00000000 ~~957~~928.~~71933968~~90947057 A2 0.00000000 0.00000000 2.~~02327052~~11059864 0.00000000 ~~957~~915.~~42881104~~35287776 A3 0.00000000 0.00000000 1.~~81730740~~87222660 0.00000000 ~~925~~851.~~19092680~~25215150 A4 0.00000000 0.00000000 2.~~02000000~~17000000 0.00000000 1000.00000000 A5 0.00000000 0.00000000 2.~~18888901~~33361106 0.00000000 1000.00000000 A6 0.00000000 0.00000000 1.~~77757993~~79036679 0.00000000 ~~892~~785.~~33290838~~91837131 A7 0.00000000 0.00000000 2.~~10000000~~24750000 0.00000000 1000.00000000 M1 0.00000000 0.00000000 2.~~26888891~~41111109 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~29555558~~43694442 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.~~34000000~~48000000 0.00000000 1000.00000000 M4 0.00000000 0.00000000 2.~~76666667~~89333333 0.00000000 1000.00000000 M5 0.00000000 0.00000000 2.~~82888882~~95361118 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.~~00666667~~12583333 0.00000000 1000.00000000 M7 0.00000000 0.00000000 3.~~45111111~~55638889 0.00000000 1000.00000000 M8 0.00000000 0.00000000 3.~~54000000~~64250000 0.00000000 1000.00000000 M9 0.00000000 0.00000000 4.~~82888897~~89111103 0.00000000 1000.00000000 M10 0.00000000 0.00000000 4.~~16222222~~24527778 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~103~~97.~~85825957~~59271940 0.00000000 1000.00121099 P 0.00000000 0.00000000 ~~8093266~~11836300.~~60000000~~20000000 0.00000000 1000.00000000 R 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 8492,~~030~~908,~~841~~279.2555 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~809~~1,~~326~~183,630.6602 Total Deposits 8494,~~840~~091,~~167~~909.9157 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 1,~~316~~284,~~331~~504.8077 Payment of Interest and Principal 8392,~~523~~807,~~836~~404.1180 Total Withdrawals (Pool Distribution Amount) 8494,~~840~~091,~~167~~909.9157 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 1,~~236~~209,~~885~~620.9068 Certificate Insurer Fee 7571,~~805~~181.9029 Custodian Fee 3,~~640~~663.80 Miscellaneous Custodian Expense 39.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 1,~~316~~284,~~331~~504.8077

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 1,~~291~~053 0 0 0 1,~~291~~053 ~~208~~161,~~072~~758,~~269~~212.4202 0.00 0.00 0.00 ~~208~~161,~~072~~758,~~269~~212.4202 60 Days ~~260~~410 0 0 0 ~~260~~410 4269,~~752~~638,~~762~~565.9683 0.00 0.00 0.00 4269,~~752~~638,~~762~~565.9683 90 Days 12165 0 0 0 12165 227,~~413~~361,~~093~~294.6322 0.00 0.00 0.00 227,~~413~~361,~~093~~294.6322 120 Days 210 0 0 0 210 ~~188~~2,~~565~~120,709.6389 0.00 0.00 0.00 ~~188~~2,~~565~~120,709.6389 150 Days 02 0 0 0 02 0187,842.0095 0.00 0.00 0.00 0187,842.0095 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1,~~565~~640 0 0 0 1,~~565~~640 ~~253~~261,~~426~~066,~~691~~624.6491 0.00 0.00 0.00 ~~253~~261,~~426~~066,~~691~~624.6491 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 76.~~216322~~004790% 0.000000% 0.000000% 0.000000% 76.~~216322~~004790% 75.~~164893~~719166% 0.000000% 0.000000% 0.000000% 75.~~164893~~719166% 60 Days 12.~~453326~~338047% 0.000000% 0.000000% 0.000000% 12.~~453326~~338047% 12.~~472176~~462159% 0.000000% 0.000000% 0.000000% 12.~~472176~~462159% 90 Days 0.~~067077~~940922% 0.000000% 0.000000% 0.000000% 0.~~067077~~940922% 0.~~083094~~967393% 0.000000% 0.000000% 0.000000% 0.~~083094~~967393% 120 Days 0.~~011179~~057026% 0.000000% 0.000000% 0.000000% 0.~~011179~~057026% 0.~~006493~~074980% 0.000000% 0.000000% 0.000000% 0.~~006493~~074980% 150 Days 0.~~000000~~011405% 0.000000% 0.000000% 0.000000% 0.~~000000~~011405% 0.~~000000~~006641% 0.000000% 0.000000% 0.000000% 0.~~000000~~006641% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 89.~~747904~~352190% 0.000000% 0.000000% 0.000000% 89.~~747904~~352190% 89.~~726656~~230340% 0.000000% 0.000000% 0.000000% 89.~~726656~~230340%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1 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 ~~223~~199 0 0 0 ~~223~~199 2725,~~895~~047,~~815~~406.0536 0.00 0.00 0.00 2725,~~895~~047,~~815~~406.0536 60 Days 3361 0 0 0 3361 47,~~790~~723,~~298~~735.9846 0.00 0.00 0.00 47,~~790~~723,~~298~~735.9846 90 Days 220 0 0 0 220 ~~294~~2,~~879~~815,250.6037 0.00 0.00 0.00 ~~294~~2,~~879~~815,250.6037 120 Days 02 0 0 0 02 0294,266.0052 0.00 0.00 0.00 0294,266.0052 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 ~~258~~282 0 0 0 ~~258~~282 3235,~~980~~880,~~993~~658.6371 0.00 0.00 0.00 3235,~~980~~880,~~993~~658.6371 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 4.~~982127~~501244% 0.000000% 0.000000% 0.000000% 4.~~982127~~501244% 4.~~652875~~243431% 0.000000% 0.000000% 0.000000% 4.~~652875~~243431% 60 Days 01.~~737265~~379778% 0.000000% 0.000000% 0.000000% 01.~~737265~~379778% 01.~~798997~~308524% 0.000000% 0.000000% 0.000000% 01.~~798997~~308524% 90 Days 0.~~044683~~452386% 0.000000% 0.000000% 0.000000% 0.~~044683~~452386% 0.~~049184~~476948% 0.000000% 0.000000% 0.000000% 0.~~049184~~476948% 120 Days 0.~~000000~~045239% 0.000000% 0.000000% 0.000000% 0.~~000000~~045239% 0.~~000000~~049853% 0.000000% 0.000000% 0.000000% 0.~~000000~~049853% 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 56.~~764075~~378647% 0.000000% 0.000000% 0.000000% 56.~~764075~~378647% 56.~~501056~~078757% 0.000000% 0.000000% 0.000000% 56.~~501056~~078757% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 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 ~~748~~605 0 0 0 ~~748~~605 ~~115~~90,~~317~~646,~~972~~887.6417 0.00 0.00 0.00 ~~115~~90,~~317~~646,~~972~~887.6417 60 Days ~~163~~241 0 0 0 ~~163~~241 2438,~~440~~930,~~263~~409.6065 0.00 0.00 0.00 2438,~~440~~930,~~263~~409.6065 90 Days 6106 0 0 0 6106 ~~871~~15,~~395~~485,495.0386 0.00 0.00 0.00 ~~871~~15,~~395~~485,495.0386 120 Days 25 0 0 0 25 ~~188~~667,~~565~~549.6340 0.00 0.00 0.00 ~~188~~667,~~565~~549.6340 150 Days 02 0 0 0 02 0187,842.0095 0.00 0.00 0.00 0187,842.0095 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~919~~959 0 0 0 ~~919~~959 ~~140~~145,~~818~~918,~~196~~185.9003 0.00 0.00 0.00 ~~140~~145,~~818~~918,~~196~~185.9003 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 76.~~948146~~572515% 0.000000% 0.000000% 0.000000% 76.~~948146~~572515% 76.~~902348~~378289% 0.000000% 0.000000% 0.000000% 76.~~902348~~378289% 60 Days 12.~~732016~~618142% 0.000000% 0.000000% 0.000000% 12.~~732016~~618142% 12.~~674808~~739304% 0.000000% 0.000000% 0.000000% 12.~~674808~~739304% 90 Days 01.~~063755~~151548% 0.000000% 0.000000% 0.000000% 01.~~063755~~151548% 01.~~059714~~089623% 0.000000% 0.000000% 0.000000% 01.~~059714~~089623% 120 Days 0.~~021252~~054318% 0.000000% 0.000000% 0.000000% 0.~~021252~~054318% 0.~~012922~~046972% 0.000000% 0.000000% 0.000000% 0.~~012922~~046972% 150 Days 0.~~000000~~021727% 0.000000% 0.000000% 0.000000% 0.~~000000~~021727% 0.~~000000~~013217% 0.000000% 0.000000% 0.000000% 0.~~000000~~013217% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 910.~~765168~~418251% 0.000000% 0.000000% 0.000000% 910.~~765168~~418251% 910.~~649791~~267405% 0.000000% 0.000000% 0.000000% 910.~~649791~~267405% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3 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 7552 0 0 0 7552 117,~~565~~703,~~602~~605.3773 0.00 0.00 0.00 117,~~565~~703,~~602~~605.3773 60 Days 620 0 0 0 620 ~~814~~2,~~773~~671,730.2470 0.00 0.00 0.00 ~~814~~2,~~773~~671,730.2470 90 Days 04 0 0 0 04 0619,496.0069 0.00 0.00 0.00 0619,496.0069 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 8176 0 0 0 8176 1210,~~380~~994,~~375~~833.6112 0.00 0.00 0.00 1210,~~380~~994,~~375~~833.6112 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 64.~~482282~~525674% 0.000000% 0.000000% 0.000000% 64.~~482282~~525674% 53.~~074102~~420204% 0.000000% 0.000000% 0.000000% 53.~~074102~~420204% 60 Days 01.~~518583~~740644% 0.000000% 0.000000% 0.000000% 01.~~518583~~740644% 01.~~357460~~186180% 0.000000% 0.000000% 0.000000% 01.~~357460~~186180% 90 Days 0.~~000000~~348129% 0.000000% 0.000000% 0.000000% 0.~~000000~~348129% 0.~~000000~~275041% 0.000000% 0.000000% 0.000000% 0.~~000000~~275041% 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 76.~~000864~~614447% 0.000000% 0.000000% 0.000000% 76.~~000864~~614447% 54.~~431562~~881424% 0.000000% 0.000000% 0.000000% 54.~~431562~~881424% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4 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 ~~245~~197 0 0 0 ~~245~~197 5338,~~292~~360,~~879~~312.3676 0.00 0.00 0.00 5338,~~292~~360,~~879~~312.3676 60 Days 5888 0 0 0 5888 1220,~~707~~312,~~427~~690.1402 0.00 0.00 0.00 1220,~~707~~312,~~427~~690.1402 90 Days 435 0 0 0 435 18,~~246~~441,~~819~~051.0030 0.00 0.00 0.00 18,~~246~~441,~~819~~051.0030 120 Days 03 0 0 0 03 01,158,893.0097 0.00 0.00 0.00 01,158,893.0097 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 ~~307~~323 0 0 0 ~~307~~323 6768,~~247~~272,~~125~~948.5005 0.00 0.00 0.00 6768,~~247~~272,~~125~~948.5005 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 87.~~608573~~135096% 0.000000% 0.000000% 0.000000% 87.~~608573~~135096% 86.~~633333~~483362% 0.000000% 0.000000% 0.000000% 86.~~633333~~483362% 60 Days 23.~~037948~~187251% 0.000000% 0.000000% 0.000000% 23.~~037948~~187251% 23.~~058576~~433093% 0.000000% 0.000000% 0.000000% 23.~~058576~~433093% 90 Days 01.~~140548~~267657% 0.000000% 0.000000% 0.000000% 01.~~140548~~267657% 01.~~201982~~426641% 0.000000% 0.000000% 0.000000% 01.~~201982~~426641% 120 Days 0.~~000000~~108656% 0.000000% 0.000000% 0.000000% 0.~~000000~~108656% 0.~~000000~~195867% 0.000000% 0.000000% 0.000000% 0.~~000000~~195867% 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 1011.~~787070~~698660% 0.000000% 0.000000% 0.000000% 1011.~~787070~~698660% 1011.~~893891~~538963% 0.000000% 0.000000% 0.000000% 1011.~~893891~~538963%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1,~~773~~841,~~049~~370.3984 Class R 712,499,971.03 23.74999904% 712,500,100.00 2425.~~54282131~~19134013% 0.000000% 0.000000% Class M-1 565,499,971.03 18.84999903% 565,500,100.00 19.~~47925046~~99396963% 5.~~063571~~197370% 0.000000% Class M-2 445,499,971.03 14.84999903% 445,500,100.00 15.~~34572324~~75121820% 4.~~133527~~242751% 0.000000% Class M-3 391,499,971.03 13.04999903% 391,500,100.00 13.~~48563600~~84198006% 1.~~860087~~909238% 0.000000% Class M-4 338,999,971.03 11.29999903% 339,000,100.00 11.~~67721784~~98577631% 1.~~808418~~856204% 0.000000% Class P 106,499,871.03 3.54999570% 106,500,000.00 3.~~66850541~~76544189% 0.~~000003~~000004% 0.000000% Class CE 0.00 0.00000000% 0.00 0.00000000% 3.~~668505~~765442% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~516587~~511425% Weighted Average Net Coupon 7.~~016587~~011425% Weighted Average Pass-Through Rate 7.~~016587~~011425% Weighted Average Maturity(Stepdown Calculation ) ~~352~~351 Beginning Scheduled Collateral Loan Count 1817,~~202~~890 Number Of Loans Paid In Full ~~312~~354 Ending Scheduled Collateral Loan Count 17,~~890~~536 Beginning Scheduled Collateral Balance 2,~~968~~903,~~526~~089,~~151~~629.4312 Ending Scheduled Collateral Balance 2,~~903~~828,~~089~~353,~~629~~300.1279 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 2,~~904~~828,~~052~~353,~~827~~300.4079 Monthly P &I Constant 20,~~993~~534,~~306~~123.3518 Special Servicing Fee 0.00 Prepayment Penalties ~~809~~1,~~326~~183,630.6602 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 2,~~398~~362,~~986~~172.5632 Unscheduled Principal 6372,~~037~~374,~~535~~156.7501

Miscellaneous Reporting Excess Interest 1115,~~060~~580,~~891~~811.2555 Extra Principal 0.00 Overcollateralization Amount 106,~~500~~499,~~000~~999.00100 Overcollateralization Release Amount 0.00 Overcollateralization Deficiency Amount 0.00 Specified Overcollateralization Amount 106,~~500~~499,~~000~~999.00100 Step Down NO Trigger Event NO Cap A-1 Payment 0.00 Cap A-2 Payment 0.00 Cap M Payment 0.00

Group Level Collateral Statement Group 1 2 3 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.~~485771~~480872 7.~~645881~~643584 6.~~846430~~839492 Weighted Average Net Rate 6.~~985771~~980872 7.~~145881~~143584 6.~~346430~~339492 Weighted Average Maturity ~~352~~351 351 352 ~~353~~ Beginning Loan Count 4,~~527~~476 9,~~615~~411 1,~~166~~157 Loans Paid In Full 5155 ~~204~~206 98 Ending Loan Count 4,~~476~~421 9,~~411~~205 1,~~157~~149 Beginning Scheduled Balance ~~608~~599,~~093~~374,~~093~~613.4393 1,~~497~~458,~~614~~785,~~543~~636.6157 ~~230~~227,~~718~~874,~~836~~496.5835 Ending scheduled Balance ~~599~~590,~~374~~263,~~613~~059.9367 1,~~458~~421,~~785~~178,~~636~~847.5779 ~~227~~225,~~874~~238,~~496~~211.3542 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 4,~~354~~293,~~398~~191.0749 10,~~661~~390,~~753~~471.9417 1,~~543~~524,~~217~~513.9912 Scheduled Principal ~~561~~556,~~026~~654.5633 1,~~119~~098,~~601~~512.5406 ~~226~~225,~~884~~724.4498 Unscheduled Principal 8,~~157~~554,~~452~~899.9493 3736,~~709~~508,~~305~~276.5072 2,~~617~~410,~~455~~559.7995 Scheduled Interest 3,~~793~~736,~~371~~537.5116 9,~~542~~291,~~152~~959.4011 1,~~316~~298,~~333~~788.5514 Servicing Fees ~~253~~249,~~372~~739.1242 ~~624~~607,~~006~~827.0635 9694,~~132~~947.8571 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 3,~~539~~486,~~999~~797.3974 8,~~918~~684,~~146~~131.3476 1,~~220~~203,~~200~~840.7043 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.~~985771~~980872 7.~~145881~~143584 6.~~346430~~339492

Group Level Collateral Statement Group 4 Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~484508~~476806 7.~~516587~~511425 Weighted Average Net Rate 6.~~984508~~976806 7.~~016587~~011425 Weighted Average Maturity ~~353~~ 352 351 Beginning Loan Count 2,~~894~~846 1817,~~202~~890 Loans Paid In Full 4885 ~~312~~354 Ending Loan Count 2,~~846~~761 17,~~890~~536 Beginning Scheduled Balance ~~632~~617,~~099~~054,~~677~~882.8127 2,~~968~~903,~~526~~089,~~151~~629.4312 Ending scheduled Balance ~~617~~591,~~054~~673,~~882~~181.2791 2,~~903~~828,~~089~~353,~~629~~300.1279 Record Date 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 4,~~433~~325,~~936~~947.3540 20,~~993~~534,~~306~~123.3518 Scheduled Principal ~~491~~481,~~474~~280.0295 2,~~398~~362,~~986~~172.5632 Unscheduled Principal 1424,~~553~~900,~~321~~419.5241 6372,~~037~~374,~~535~~156.7501 Scheduled Interest 3,~~942~~844,~~462~~666.3345 18,~~594~~171,~~319~~950.7986 Servicing Fees ~~263~~257,~~374~~106.8720 1,~~236~~209,~~885~~620.9068 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 3,~~679~~587,~~087~~560.4625 1716,~~357~~962,~~433~~330.8918 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.~~984508~~976806 7.~~016587~~011425

Filing Compare · Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-WCW2