8-K 1 mit04001_10501.txt 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): January 25, 2005 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 Pooling and Servicing Agreement) (Commission N/A (State or other File Number) IRS EIN 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 January 25, 2005 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 January 25, 2005 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: 1/25/2005 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 January 25, 2005 distribution. EX-99.1

MortgageIT Trust Mortgage-Backed Notes Record Date: 1112/3031/2004 Distribution Date: 121/2725/~~2004~~2005 ~~MortgageIT~~Mortgage IT 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.~~57000~~80750% ~~607~~596,~~876~~919,~~779~~020.7136 1,~~345~~349,~~265~~990.0840 1012,~~957~~619,~~759~~209.3506 A-2 61913PAF9 SEN 2.~~63000~~86750% 6766,~~541~~324,~~973~~443.8910 ~~152~~153,~~963~~204.8186 1,~~217~~402,~~530~~136.7961 M-1 61913PAB8 MEZ 2.~~73000~~96750% 35,~~969~~321,~~704~~304.8776 84,~~558~~435.7809 ~~648~~746,~~400~~712.1156 M-2 61913PAC6 MEZ 23.~~85000~~08750% 29,~~974~~433,~~097~~775.1860 73,~~561~~206.4330 ~~540~~622,~~321~~246.5883 B-1 61913PAD4 SUB 3.~~38000~~61750% 3938,~~166~~460,~~048~~030.5525 ~~113~~112,~~994~~076.9627 ~~706~~813,~~018~~067.3101 B-2 61913PAE2 SUB 4.~~33000~~56750% 15,~~984~~696,~~977~~828.8308 5957,~~601~~754.7752 ~~288~~331,~~149~~839.7591 Owner Trust MORTGA041OT OT 0.00000% 0.00 1,~~489~~427,~~884~~423.7514 0.00 Totals ~~796~~782,~~513~~155,~~582~~402.0315 3,~~319~~258,~~830~~090.58 1416,~~358~~535,~~179~~211.8998

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~596~~584,~~919~~299,~~020~~811.3630 1213,~~303~~969,~~024~~199.4346 0.00 A-2 0.00 6664,~~324~~922,~~443~~306.1049 1,~~370~~555,~~494~~341.6047 0.00 M-1 0.00 3534,~~321~~574,~~304~~592.7620 ~~732~~831,~~958~~147.8965 0.00 M-2 0.00 2928,~~433~~811,~~775~~528.6077 ~~613~~695,~~883~~453.0113 0.00 B-1 0.00 3837,~~460~~646,~~030~~963.2524 ~~820~~925,~~013~~143.2728 0.00 B-2 0.00 15,~~696~~364,~~828~~988.0817 ~~347~~389,~~751~~594.5243 0.00 Owner Trust 0.00 0.00 1,~~489~~427,~~884~~423.7514 0.00 Totals 0.00 ~~782~~765,~~155~~620,~~402~~190.15 17 19,~~678~~793,~~010~~302.4756 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 ~~607~~596,~~876~~919,~~779~~020.7136 0.00 1012,~~957~~619,~~759~~209.3506 0.00 0.00 A-2 68,549,000.00 6766,~~541~~324,~~973~~443.8910 0.00 1,~~217~~402,~~530~~136.7961 0.00 0.00 M-1 36,506,000.00 35,~~969~~321,~~704~~304.8776 0.00 ~~648~~746,~~400~~712.1156 0.00 0.00 M-2 30,421,000.00 29,~~974~~433,~~097~~775.1860 0.00 ~~540~~622,~~321~~246.5883 0.00 0.00 B-1 39,750,000.00 3938,~~166~~460,~~048~~030.5525 0.00 ~~706~~813,~~018~~067.3101 0.00 0.00 B-2 16,223,308.00 15,~~984~~696,~~977~~828.8308 0.00 ~~288~~331,~~149~~839.7591 0.00 0.00 Owner Trust 0.00 0.00 0.00 0.00 0.00 0.00 Totals 808,389,308.00 ~~796~~782,~~513~~155,~~582~~402.0315 0.00 1416,~~358~~535,~~179~~211.8998 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 1012,~~957~~619,~~759~~209.3506 ~~596~~584,~~919~~299,~~020~~811.3630 0.~~96754793~~94709341 1012,~~957~~619,~~759~~209.3506 A-2 1,~~217~~402,~~530~~136.7961 6664,~~324~~922,~~443~~306.1049 0.~~96754793~~94709341 1,~~217~~402,~~530~~136.7961 M-1 ~~648~~746,~~400~~712.1156 3534,~~321~~574,~~304~~592.7620 0.~~96754793~~94709341 ~~648~~746,~~400~~712.1156 M-2 ~~540~~622,~~321~~246.5883 2928,~~433~~811,~~775~~528.6077 0.~~96754793~~94709341 ~~540~~622,~~321~~246.5883 B-1 ~~706~~813,~~018~~067.3101 3837,~~460~~646,~~030~~963.2524 0.~~96754793~~94709341 ~~706~~813,~~018~~067.3101 B-2 ~~288~~331,~~149~~839.7591 15,~~696~~364,~~828~~988.0817 0.~~96754793~~94709341 ~~288~~331,~~149~~839.7591 Owner Trust 0.00 0.00 0.00000000 0.00 Totals 1416,~~358~~535,~~179~~211.8998 ~~782~~765,~~155~~620,~~402~~190.1517 0.~~96754793~~94709341 1416,~~358~~535,~~179~~211.8998

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 ~~985~~967.~~30939753~~54793069 0.00000000 1720.~~76146684~~45451593 0.00000000 A-2 68,549,000.00 ~~985~~967.~~30939751~~54793068 0.00000000 1720.~~76146683~~45451589 0.00000000 M-1 36,506,000.00 ~~985~~967.~~30939763~~54793075 0.00000000 1720.~~76146688~~45451597 0.00000000 M-2 30,421,000.00 ~~985~~967.~~30939746~~54793071 0.00000000 1720.~~76146675~~45451596 0.00000000 B-1 39,750,000.00 ~~985~~967.~~30939748~~54793082 0.00000000 1720.~~76146692~~45451597 0.00000000 B-2 16,223,308.00 ~~985~~967.~~30939744~~54793042 0.00000000 1720.~~76146702~~45451581 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 1720.~~76146684~~45451593 ~~967~~947.~~54793069~~09341476 0.~~96754793~~94709341 1720.~~76146684~~45451593 A-2 0.00000000 1720.~~76146683~~45451589 ~~967~~947.~~54793068~~09341478 0.~~96754793~~94709341 1720.~~76146683~~45451589 M-1 0.00000000 1720.~~76146688~~45451597 ~~967~~947.~~54793075~~09341478 0.~~96754793~~94709341 1720.~~76146688~~45451597 M-2 0.00000000 1720.~~76146675~~45451596 ~~967~~947.~~54793071~~09341475 0.~~96754793~~94709341 1720.~~76146675~~45451596 B-1 0.00000000 1720.~~76146692~~45451597 ~~967~~947.~~54793082~~09341484 0.~~96754793~~94709341 1720.~~76146692~~45451597 B-2 0.00000000 1720.~~76146702~~45451581 ~~967~~947.~~54793042~~09341461 0.~~96754793~~94709341 1720.~~76146702~~45451581 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.~~57000~~80750% ~~607~~596,~~876~~919,~~779~~020.7136 1,~~345~~349,~~265~~990.0840 0.00 0.00 A-2 68,549,000.00 2.~~63000~~86750% 6766,~~541~~324,~~973~~443.8910 ~~152~~153,~~963~~204.8186 0.00 0.00 M-1 36,506,000.00 2.~~73000~~96750% 35,~~969~~321,~~704~~304.8776 84,~~558~~435.7809 0.00 0.00 M-2 30,421,000.00 23.~~85000~~08750% 29,~~974~~433,~~097~~775.1860 73,~~561~~206.4330 0.00 0.00 B-1 39,750,000.00 3.~~38000~~61750% 3938,~~166~~460,~~048~~030.5525 ~~113~~112,~~994~~076.9627 0.00 0.00 B-2 16,223,308.00 4.~~33000~~56750% 15,~~984~~696,~~977~~828.8308 5957,~~601~~754.7752 0.00 0.00 Owner Trust 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 808,389,308.00 1,~~829~~830,~~945~~667.8344 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,~~345~~349,~~265~~990.0840 0.00 ~~596~~584,~~919~~299,~~020~~811.3630 A-2 0.00 0.00 ~~152~~153,~~963~~204.8186 0.00 6664,~~324~~922,~~443~~306.1049 M-1 0.00 0.00 84,~~558~~435.7809 0.00 3534,~~321~~574,~~304~~592.7620 M-2 0.00 0.00 73,~~561~~206.4330 0.00 2928,~~433~~811,~~775~~528.6077 B-1 0.00 0.00 ~~113~~112,~~994~~076.9627 0.00 3837,~~460~~646,~~030~~963.2524 B-2 0.00 0.00 5957,~~601~~754.7752 0.00 15,~~696~~364,~~828~~988.0817 Owner Trust 0.00 0.00 1,~~489~~427,~~884~~423.7514 0.00 0.00 Totals 0.00 0.00 3,~~319~~258,~~830~~090.58 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.~~57000~~80750% ~~985~~967.~~30939753~~54793069 2.~~18054443~~18820372 0.00000000 0.00000000 A-2 68,549,000.00 2.~~63000~~86750% ~~985~~967.~~30939751~~54793068 2.~~23145210~~23496856 0.00000000 0.00000000 M-1 36,506,000.00 2.~~73000~~96750% ~~985~~967.~~30939763~~54793075 2.~~31629814~~31290993 0.00000000 0.00000000 M-2 30,421,000.00 23.~~85000~~08750% ~~985~~967.~~30939746~~54793071 2.~~41811347~~40643963 0.00000000 0.00000000 B-1 39,750,000.00 3.~~38000~~61750% ~~985~~967.~~30939748~~54793082 2.~~86779774~~81952881 0.00000000 0.00000000 B-2 16,223,308.00 4.~~33000~~56750% ~~985~~967.~~30939744~~54793042 3.~~67383582~~55997186 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.~~18054443~~18820372 0.00000000 ~~967~~947.~~54793069~~09341476 A-2 0.00000000 0.00000000 2.~~23145210~~23496856 0.00000000 ~~967~~947.~~54793068~~09341478 M-1 0.00000000 0.00000000 2.~~31629814~~31290993 0.00000000 ~~967~~947.~~54793075~~09341478 M-2 0.00000000 0.00000000 2.~~41811347~~40643963 0.00000000 ~~967~~947.~~54793071~~09341475 B-1 0.00000000 0.00000000 2.~~86779774~~81952881 0.00000000 ~~967~~947.~~54793082~~09341484 B-2 0.00000000 0.00000000 3.~~67383582~~55997186 0.00000000 ~~967~~947.~~54793042~~09341461 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 1720,~~941~~034,~~433~~862.8157 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4249,~~064~~085.2286 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1720,~~983~~083,~~498~~948.0343 Withdrawals Reimbursement for Servicer Advances 5242,~~359~~064.1422 Payment of Service Fee ~~253~~248,~~128~~581.4265 Payment of Interest and Principal 1719,~~678~~793,~~010~~302.4756 Total Withdrawals (Pool Distribution Amount) 1720,~~983~~083,~~498~~948.0343 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~249~~245,~~797~~310.7884 Master Servicing Fee 3,~~330~~270.6481 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~253~~248,~~128~~581.4265

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 2733 0 0 0 2733 810,~~397~~457,~~985~~268.3960 0.00 0.00 0.00 810,~~397~~457,~~985~~268.3960 60 Days 51 0 0 0 5 1 302,~~234,200~~400.00 0.00 0.00 0.00 1302,~~234,200~~400.00 90 Days 02 0 0 0 02 0550,500.00 0.00 0.00 0.00 0550,500.00 120 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 3236 0 0 0 3236 911,~~632~~310,~~185~~168.3960 0.00 0.00 0.00 911,~~632~~310,~~185~~168.3960 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 01.~~987925~~226766% 0.000000% 0.000000% 0.000000% 01.~~987925~~226766% 1.~~069666~~360646% 0.000000% 0.000000% 0.000000% 1.~~069666~~360646% 60 Days 0.~~182949~~037175% 0.000000% 0.000000% 0.000000% 0.~~182949~~037175% 0.~~157202~~039347% 0.000000% 0.000000% 0.000000% 0.~~157202~~039347% 90 Days 0.~~000000~~074349% 0.000000% 0.000000% 0.000000% 0.~~000000~~074349% 0.~~000000~~071628% 0.000000% 0.000000% 0.000000% 0.~~000000~~071628% 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.~~170874~~338290% 0.000000% 0.000000% 0.000000% 1.~~170874~~338290% 1.~~226868~~471620% 0.000000% 0.000000% 0.000000% 1.~~226868~~471620%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4249,~~064~~085.2286

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~363777~~360554% Weighted Average Net Coupon 4.~~988777~~985554% Weighted Average Pass-Through Rate 4.~~983777~~980554% Weighted Average Maturity(Stepdown Calculation ) ~~357~~356 Beginning Scheduled Collateral Loan Count 2,~~769~~733 Number Of Loans Paid In Full 3643 Ending Scheduled Collateral Loan Count 2,~~733~~690 Beginning Scheduled Collateral Balance ~~799~~784,~~352~~994,~~882~~702.1628 Ending Scheduled Collateral Balance ~~784~~768,~~994~~459,~~702~~490.2830 Ending Actual Collateral Balance at 3031-~~Nov~~Dec-2004 ~~785~~768,~~103~~551,~~517~~996.3771 Monthly P &I Constant 3,~~766~~700,~~223~~397.3195 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 193,~~264~~726.7814 Unscheduled Principal 1416,~~164~~341,~~915~~485.1084 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,~~489~~427,~~884~~423.7514

Miscellaneous Reporting BSB 3 -Year Hybrid Mortgage Loans ~~339~~333,~~632~~349,~~036~~800.7919 ESB 3 -Year Hybrid Mortgage Loans ~~333~~328,~~349~~553,~~800~~803.1947 BSB 5 -Year Hybrid Mortgage Loans ~~434~~428,~~916~~002,~~218~~103.3138 ESB 5 -Year Hybrid Mortgage Loans ~~428~~417,~~002~~698,~~103~~940.3835 Average Loss Severity Percentage 0.000000% Yield Maintenance Amount 0.00

Filing Compare · MortgageIT Trust 2004-1