8-K 1 mlc04hb1_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 MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Pass-Through Certificates, Series 2004-HB1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-112231-15 Pooling and Servicing Agreement) (Commission 54-2157850 (State or other File Number) 54-2157851 jurisdiction 54-2157852 of Incorporation) IRS EIN c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, Maryland 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 MERRILL LYNCH MORTGAGE INVESTORS, INC., Mortgage Pass-Through Certificates, Series 2004-HB1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-HB1 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. MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Pass-Through Certificates, Series 2004-HB1 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: 1/4/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-HB1 Trust, relating to the December 27, 2004 distribution. EX-99.1

Merrill Lynch Mortgage Investors, Inc. Mortgage Pass-Through Certificates Record Date: 1011/3130/042004 Distribution Date: 1112/2627/042004 ~~MLC~~Merrill Lynch Mortgage Investors, Inc. Mortgage Pass-Through Certificates Series: 2004-HB1 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 59020UET8 SEN 2.~~29250~~54000% ~~149~~147,~~527~~946,~~795~~941.6044 ~~285~~313,~~660~~154.3936 12,~~580~~371,~~854~~938.1631 A-R 59020UEY7 SEN 3.~~41051~~44666% 0.00 0.5220 0.00 A-2 59020UEU5 SEN 2.31000% 5856,~~243~~553,~~444~~703.5196 ~~112~~108,~~118~~865.6388 1403,~~689,740~~158.5589 A-3 59020UEV3 SEN 3.~~55887~~71416% ~~246~~242,~~835~~329,~~896~~486.8823 ~~732~~750,~~048~~040.4697 4,~~506~~054,~~410~~469.6573 X-A 59020UEW1 IO 1.~~25329~~22081% 0.00 ~~216~~208,~~997~~046.7036 0.00 B-1 59020UEZ4 SUB 2.~~48250~~73000% 11,250,000.00 2325,~~273~~593.4475 0.00 B-2 59020UFA8 SUB 23.~~88250~~13000% 5,750,000.00 1314,~~811~~997.9892 0.00 B-3 59020UFB6 SUB 3.~~58250~~83000% 4,250,000.00 1213,~~688~~564.0258 0.00 X-B 59020UEX9 IO 0.~~74981~~67283% 0.00 1311,~~180~~476.6472 0.00 B-4 59020UFC4 SUB 3.~~55505~~70633% 2,000,000.00 56,~~925~~177.0922 0.00 B-5 59020UFD2 SUB 3.~~55505~~70633% 1,250,000.00 3,~~703~~860.1876 0.00 B-6 59020UFE0 SUB 3.~~55505~~70633% 3,000,916.19 89,~~890~~268.3566 0.00 LTR2 MLC400CR2 SEQ 0.00000% 0.00 0.00 0.00 LTR1 MLC400CR1 SEQ 0.00000% 0.00 0.00 0.00 Totals ~~482~~474,~~108~~331,~~053~~047.1882 1,~~428~~465,~~298~~047.4038 76,~~777~~829,~~005~~566.3693

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~147~~145,~~946~~575,~~941~~003.4413 12,~~866~~685,~~514~~092.5567 0.00 A-R 0.00 0.00 0.5220 0.00 A-2 0.00 56,~~553~~150,~~703~~545.9607 1512,~~801,859~~024.1877 0.00 A-3 0.00 ~~242~~238,~~329~~275,~~486~~016.2350 54,~~238~~804,~~459~~510.1170 0.00 X-A 0.00 0.00 ~~216~~208,~~997~~046.7036 0.00 B-1 0.00 11,250,000.00 2325,~~273~~593.4475 0.00 B-2 0.00 5,750,000.00 1314,~~811~~997.9892 0.00 B-3 0.00 4,250,000.00 1213,~~688~~564.0258 0.00 X-B 0.00 0.00 1311,~~180~~476.6472 0.00 B-4 0.00 2,000,000.00 56,~~925~~177.0922 0.00 B-5 0.00 1,250,000.00 3,~~703~~860.1876 0.00 B-6 0.00 3,000,916.19 89,~~890~~268.3566 0.00 LTR2 0.00 0.00 0.00 0.00 LTR1 0.00 0.00 0.00 0.00 Totals 0.00 ~~474~~467,~~331~~501,~~047~~480.8289 98,~~205~~294,~~303~~614.7631 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-1 157,500,000.00 ~~149~~147,~~527~~946,~~795~~941.6044 0.00 12,~~580~~371,~~854~~938.1631 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 A-2 60,000,000.00 5856,~~243~~553,~~444~~703.5196 0.00 1403,~~689,740~~158.5589 0.00 0.00 A-3 255,000,000.00 ~~246~~242,~~835~~329,~~896~~486.8823 0.00 4,~~506~~054,~~410~~469.6573 0.00 0.00 X-A 0.00 0.00 0.00 0.00 0.00 0.00 B-1 11,250,000.00 11,250,000.00 0.00 0.00 0.00 0.00 B-2 5,750,000.00 5,750,000.00 0.00 0.00 0.00 0.00 B-3 4,250,000.00 4,250,000.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 0.00 B-4 2,000,000.00 2,000,000.00 0.00 0.00 0.00 0.00 B-5 1,250,000.00 1,250,000.00 0.00 0.00 0.00 0.00 B-6 3,000,916.19 3,000,916.19 0.00 0.00 0.00 0.00 LTR2 0.00 0.00 0.00 0.00 0.00 0.00 LTR1 0.00 0.00 0.00 0.00 0.00 0.00 Totals 500,001,016.19 ~~482~~474,~~108~~331,~~053~~047.1882 0.00 76,~~777~~829,~~005~~566.3693 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 12,~~580~~371,~~854~~938.1631 ~~147~~145,~~946~~575,~~941~~003.4413 0.~~93934566~~92428573 12,~~580~~371,~~854~~938.1631 A-R 0.00 0.00 0.00000000 0.00 A-2 1403,~~689,740~~158.5589 56,~~553~~150,~~703~~545.9607 0.~~94256173~~93584242 1403,~~689,740~~158.5589 A-3 4,~~506~~054,~~410~~469.6573 ~~242~~238,~~329~~275,~~486~~016.2350 0.~~95031171~~93441183 4,~~506~~054,~~410~~469.6573 X-A 0.00 0.00 0.00000000 0.00 B-1 0.00 11,250,000.00 1.00000000 0.00 B-2 0.00 5,750,000.00 1.00000000 0.00 B-3 0.00 4,250,000.00 1.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 B-4 0.00 2,000,000.00 1.00000000 0.00 B-5 0.00 1,250,000.00 1.00000000 0.00 B-6 0.00 3,000,916.19 1.00000000 0.00 LTR2 0.00 0.00 0.00000000 0.00 LTR1 0.00 0.00 0.00000000 0.00 Totals 76,~~777~~829,~~005~~566.3693 ~~474~~467,~~331~~501,~~047~~480.8289 0.~~94866017~~93500106 76,~~777~~829,~~005~~566.3693

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 157,500,000.00 ~~949~~939.~~38282921~~34565994 0.00000000 1015.~~03716927~~05992578 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A-2 60,000,000.00 ~~970~~942.~~72407517~~56173267 0.00000000 286.~~16234250~~71931483 0.00000000 A-3 255,000,000.00 ~~967~~950.~~98390933~~31171071 0.00000000 1715.~~67219863~~89988129 0.00000000 X-A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 11,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 5,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 4,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 3,000,916.19 1000.00000000 0.00000000 0.00000000 0.00000000 LTR2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 LTR1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1000 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 1015.~~03716927~~05992578 ~~939~~924.~~34565994~~28573416 0.~~93934566~~92428573 1015.~~03716927~~05992578 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 286.~~16234250~~71931483 ~~942~~935.~~56173267~~84241783 0.~~94256173~~93584242 286.~~16234250~~71931483 A-3 0.00000000 1715.~~67219863~~89988129 ~~950~~934.~~31171071~~41182941 0.~~95031171~~93441183 1715.~~67219863~~89988129 X-A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 LTR2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 LTR1 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-1 157,500,000.00 2.~~29250~~54000% ~~149~~147,~~527~~946,~~795~~941.6044 ~~285~~313,~~660~~154.3936 0.00 0.00 A-R 100.00 3.~~41051~~44666% 0.00 0.00 0.00 0.00 A-2 60,000,000.00 2.31000% 5856,~~243~~553,~~444~~703.5196 ~~112~~108,~~118~~865.6388 0.00 0.00 A-3 255,000,000.00 3.~~55887~~71416% ~~246~~242,~~835~~329,~~896~~486.8823 ~~732~~750,~~048~~040.4697 0.00 0.00 X-A 0.00 1.~~25329~~22081% ~~207~~204,~~771~~500,~~240~~645.1140 ~~216~~208,~~997~~046.7036 0.00 0.00 B-1 11,250,000.00 2.~~48250~~73000% 11,250,000.00 2325,~~273~~593.4475 0.00 0.00 B-2 5,750,000.00 23.~~88250~~13000% 5,750,000.00 1314,~~811~~997.9892 0.00 0.00 B-3 4,250,000.00 3.~~58250~~83000% 4,250,000.00 1213,~~688~~564.0258 0.00 0.00 X-B 0.00 0.~~74981~~67283% 21,250,000.00 1311,~~277~~914.8571 0.00 0.00 B-4 2,000,000.00 3.~~55505~~70633% 2,000,000.00 56,~~925~~177.0922 0.00 0.00 B-5 1,250,000.00 3.~~55505~~70633% 1,250,000.00 3,~~703~~860.1876 0.00 0.00 B-6 3,000,916.19 3.~~55505~~70633% 3,000,916.19 89,~~890~~268.3566 0.00 0.00 LTR2 0.00 0.00000% 0.00 0.00 0.00 0.00 LTR1 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 500,001,016.19 1,~~428~~465,~~395~~485.0917 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 ~~285~~313,~~660~~154.3936 0.00 ~~147~~145,~~946~~575,~~941~~003.4413 A-R 0.00 0.00 0.5220 0.00 0.00 A-2 0.00 0.00 ~~112~~108,~~118~~865.6388 0.00 56,~~553~~150,~~703~~545.9607 A-3 0.00 0.00 ~~732~~750,~~048~~040.4697 0.00 ~~242~~238,~~329~~275,~~486~~016.2350 X-A 0.00 0.00 ~~216~~208,~~997~~046.7036 0.00 ~~204~~201,~~500~~725,~~645~~548.4020 B-1 0.00 0.00 2325,~~273~~593.4475 0.00 11,250,000.00 B-2 0.00 0.00 1314,~~811~~997.9892 0.00 5,750,000.00 B-3 0.00 0.00 1213,~~688~~564.0258 0.00 4,250,000.00 X-B 0.00 0.00 1311,~~180~~476.6472 0.11 21,250,000.00 B-4 0.00 0.00 56,~~925~~177.0922 0.00 2,000,000.00 B-5 0.00 0.00 3,~~703~~860.1876 0.00 1,250,000.00 B-6 0.00 0.00 89,~~890~~268.3566 0.00 3,000,916.19 LTR2 0.00 0.00 0.00 0.00 0.00 LTR1 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,~~428~~465,~~298~~047.4038 0.11 (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-1 157,500,000.00 2.~~29250~~54000% ~~949~~939.~~38282921~~34565994 1.~~81371676~~98828165 0.00000000 0.00000000 A-R 100.00 3.~~41051~~44666% 0.00000000 0.00000000 0.00000000 0.00000000 A-2 60,000,000.00 2.31000% ~~970~~942.~~72407517~~56173267 1.~~86864383~~81443133 0.00000000 0.00000000 A-3 255,000,000.00 3.~~55887~~71416% ~~967~~950.~~98390933~~31171071 2.~~87077827~~94133714 0.00000000 0.00000000 X-A 0.00 1.~~25329~~22081% ~~955~~940.~~27006947~~23285241 0.~~99769057~~95653499 0.00000000 0.00000000 B-1 11,250,000.00 2.~~48250~~73000% 1000.00000000 2.~~06875022~~27500000 0.00000000 0.00000000 B-2 5,750,000.00 23.~~88250~~13000% 1000.00000000 2.~~40208348~~60833391 0.00000000 0.00000000 B-3 4,250,000.00 3.~~58250~~83000% 1000.00000000 23.~~98541647~~19166588 0.00000000 0.00000000 X-B 0.00 0.~~74981~~67283% 1000.00000000 0.~~62484000~~56069224 0.00000000 0.00000000 B-4 2,000,000.00 3.~~55505~~70633% 1000.00000000 23.~~96254500~~08861000 0.00000000 0.00000000 B-5 1,250,000.00 3.~~55505~~70633% 1000.00000000 23.~~96254400~~08860800 0.00000000 0.00000000 B-6 3,000,916.19 3.~~55505~~70633% 1000.00000000 23.~~96254525~~08861008 0.00000000 0.00000000 LTR2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 LTR1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1000 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 1.~~81371676~~98828165 0.00000000 ~~939~~924.~~34565994~~28573416 A-R 0.00000000 0.00000000 52.~~20000000~~00000000 0.00000000 0.00000000 A-2 0.00000000 0.00000000 1.~~86864383~~81443133 0.00000000 ~~942~~935.~~56173267~~84241783 A-3 0.00000000 0.00000000 2.~~87077827~~94133714 0.00000000 ~~950~~934.~~31171071~~41182941 X-A 0.00000000 0.00000000 0.~~99769057~~95653499 0.00000000 ~~940~~927.~~23285241~~47378483 B-1 0.00000000 0.00000000 2.~~06875022~~27500000 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.~~40208348~~60833391 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 23.~~98541647~~19166588 0.00000000 1000.00000000 X-B 0.00000000 0.00000000 0.~~62026541~~54008094 0.00000518 1000.00000000 B-4 0.00000000 0.00000000 23.~~96254500~~08861000 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 23.~~96254400~~08860800 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 23.~~96254525~~08861008 0.00000000 1000.00000000 LTR2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 LTR1 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 98,~~281~~403,~~742~~322.4595 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3525,~~416~~526.1951 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 98,~~317~~428,~~158~~849.6446 Withdrawals Reimbursement for Servicer Advances 1135,~~415~~416.6919 Payment of Service Fee ~~100~~98,~~439~~818.1896 Payment of Interest and Principal 98,~~205~~294,~~303~~614.7731 Total Withdrawals (Pool Distribution Amount) 98,~~317~~428,~~158~~849.6446 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~100~~98,~~439~~818.1896 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~100~~98,~~439~~818.1896

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 3927 0 0 0 3927 127,~~006~~557,~~009~~125.7896 0.00 0.00 0.00 127,~~006~~557,~~009~~125.7896 60 Days 02 0 0 0 02 0241,415.00 0.00 0.00 0.00 0241,415.00 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 01 0 0 0 01 0259,183.0062 0.00 0.00 0.00 0259,183.0062 Totals 3930 0 0 0 3930 128,~~006~~057,~~009~~724.7858 0.00 0.00 0.00 128,~~006~~057,~~009~~724.7858 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 1.~~969697~~384615% 0.000000% 0.000000% 0.000000% 1.~~969697~~384615% 21.~~531146~~616492% 0.000000% 0.000000% 0.000000% 21.~~531146~~616492% 60 Days 0.~~000000~~102564% 0.000000% 0.000000% 0.000000% 0.~~000000~~102564% 0.~~000000~~051639% 0.000000% 0.000000% 0.000000% 0.~~000000~~051639% 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~~051282% 0.000000% 0.000000% 0.000000% 0.~~000000~~051282% 0.~~000000~~055440% 0.000000% 0.000000% 0.000000% 0.~~000000~~055440% Totals 1.~~969697~~538462% 0.000000% 0.000000% 0.000000% 1.~~969697~~538462% 21.~~531146~~723572% 0.000000% 0.000000% 0.000000% 21.~~531146~~723572%

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 167 0 0 0 167 61,~~461~~392,~~126~~221.9783 0.00 0.00 0.00 61,~~461~~392,~~126~~221.9783 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 01 0 0 0 01 0259,183.0062 0.00 0.00 0.00 0259,183.0062 Totals 168 0 0 0 168 61,~~461~~651,~~126~~405.9745 0.00 0.00 0.00 61,~~461~~651,~~126~~405.9745 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 21.~~580645~~147541% 0.000000% 0.000000% 0.000000% 21.~~580645~~147541% 40.~~112386~~899706% 0.000000% 0.000000% 0.000000% 40.~~112386~~899706% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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~~163934% 0.000000% 0.000000% 0.000000% 0.~~000000~~163934% 0.~~000000~~167494% 0.000000% 0.000000% 0.000000% 0.~~000000~~167494% Totals 21.~~580645~~311475% 0.000000% 0.000000% 0.000000% 21.~~580645~~311475% 41.~~112386~~067200% 0.000000% 0.000000% 0.000000% 41.~~112386~~067200% 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 23 0 0 0 23 ~~594~~2,~~452~~518,685.6616 0.00 0.00 0.00 ~~594~~2,~~452~~518,685.6616 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 23 0 0 0 23 ~~594~~2,~~452~~518,685.6616 0.00 0.00 0.00 ~~594~~2,~~452~~518,685.6616 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~829876~~255230% 0.000000% 0.000000% 0.000000% 01.~~829876~~255230% 04.~~989999~~222963% 0.000000% 0.000000% 0.000000% 04.~~989999~~222963% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 01.~~829876~~255230% 0.000000% 0.000000% 0.000000% 01.~~829876~~255230% 04.~~989999~~222963% 0.000000% 0.000000% 0.000000% 04.~~989999~~222963% 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 2117 0 0 0 2117 43,~~950~~646,~~430~~218.1597 0.00 0.00 0.00 43,~~950~~646,~~430~~218.1597 60 Days 02 0 0 0 02 0241,415.00 0.00 0.00 0.00 0241,415.00 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 2119 0 0 0 2119 43,~~950~~887,~~430~~633.1597 0.00 0.00 0.00 43,~~950~~887,~~430~~633.1597 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~876676~~544051% 0.000000% 0.000000% 0.000000% 1.~~876676~~544051% 1.~~924953~~440527% 0.000000% 0.000000% 0.000000% 1.~~924953~~440527% 60 Days 0.~~000000~~181653% 0.000000% 0.000000% 0.000000% 0.~~000000~~181653% 0.~~000000~~095377% 0.000000% 0.000000% 0.000000% 0.~~000000~~095377% 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.~~876676~~725704% 0.000000% 0.000000% 0.000000% 1.~~876676~~725704% 1.~~924953~~535904% 0.000000% 0.000000% 0.000000% 1.~~924953~~535904%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 3525,~~416~~526.1951

COLLATERAL STATEMENT Collateral Description 1 Month LIBOR ARM Weighted Average Gross Coupon 3.~~805132~~956392% Weighted Average Net Coupon 3.~~555132~~706392% Weighted Average Pass-Through Rate 3.~~555132~~706392% Weighted Average Maturity(Stepdown Calculation ) ~~296~~295 Beginning Scheduled Collateral Loan Count 21,~~001~~980 Number Of Loans Paid In Full 2130 Ending Scheduled Collateral Loan Count 1,~~980~~950 Beginning Scheduled Collateral Balance ~~482~~474,~~108~~331,~~053~~047.1882 Ending Scheduled Collateral Balance ~~474~~467,~~331~~501,~~047~~480.8289 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~474~~467,~~331~~501,~~047~~480.8289 Monthly P &I Constant 1,~~528~~563,~~737~~866.4045 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 0.00 Unscheduled Principal 76,~~777~~829,~~005~~566.3693

Group Level Collateral Statement Group 1 2 3 Collateral Description Mixed ARM 6 Month LIBOR ARM 6 Month LIBOR ARM Weighted Average Coupon Rate 3.~~793163~~931485 3.~~820030~~988317 3.~~808876~~964155 Weighted Average Net Rate 3.~~543163~~681485 3.~~570030~~738317 3.~~558876~~714155 Weighted Average Maturity ~~296~~295 ~~296~~295 ~~296~~295 Beginning Loan Count ~~625~~620 ~~246~~241 1,~~130~~119 Loans Paid In Full 510 52 1118 Ending Loan Count ~~620~~610 ~~241~~239 1,~~119~~101 Beginning Scheduled Balance ~~158~~157,~~694~~113,~~663~~809.4024 6160,~~735~~045,~~504~~764.8328 ~~261~~257,~~677~~171,~~884~~474.9530 Ending scheduled Balance ~~157~~154,~~113~~741,~~809~~870.2493 6059,~~045~~642,~~764~~605.2839 ~~257~~253,~~171~~117,~~474~~004.3057 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant ~~501~~514,~~628~~742.9309 ~~196~~199,~~526~~567.2495 ~~830~~849,~~582~~556.2341 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 12,~~580~~371,~~854~~938.1631 1403,~~689,740~~158.5589 4,~~506~~054,~~410~~469.6573 Scheduled Interest ~~501~~514,~~628~~742.9309 ~~196~~199,~~526~~567.2495 ~~830~~849,~~582~~556.2341 Servicing Fees 3332,~~061~~732.3904 12,~~861~~509.5653 5453,~~516~~577.2339 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 ~~468~~482,~~567~~010.5405 ~~183~~187,~~664~~058.6842 ~~776~~795,~~066~~979.0002 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 3.~~543163~~681485 3.~~570030~~738317 3.~~558876~~714155

Group Level Collateral Statement Group Total Collateral Description 1 Month LIBOR ARM Weighted Average Coupon Rate 3.~~805132~~956392 Weighted Average Net Rate 3.~~555132~~706392 Weighted Average Maturity ~~296~~295 Beginning Loan Count 21,~~001~~980 Loans Paid In Full 2130 Ending Loan Count 1,~~980~~950 Beginning Scheduled Balance ~~482~~474,~~108~~331,~~053~~047.1882 Ending scheduled Balance ~~474~~467,~~331~~501,~~047~~480.8289 Record Date 1011/3130/2004 Principal And Interest Constant 1,~~528~~563,~~737~~866.4045 Scheduled Principal 0.00 Unscheduled Principal 76,~~777~~829,~~005~~566.3693 Scheduled Interest 1,~~528~~563,~~737~~866.4045 Servicing Fees ~~100~~98,~~439~~818.1896 Master Servicing Fees 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 Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 1,~~428~~465,~~298~~047.2249 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 3.~~555132~~706392

Filing Compare · MERRILL LYNCH MORTGAGE INVESTORS TRUST SERIES MLCC 2004-HB1