8-K 1 mit04001_10502.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): February 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 February 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 February 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: 2/28/2005 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 February 25, 2005 distribution. EX-99.1

MortgageIT Trust Mortgage-Backed Notes Record Date: 121/31/~~2004~~2005 Distribution Date: 12/25/2005 ~~Mortgage~~MortgageIT 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.~~80750~~92000% ~~596~~584,~~919~~299,~~020~~811.3630 1,~~349~~469,~~990~~189.4041 1210,~~619~~854,~~209~~628.0620 A-2 61913PAF9 SEN 2.~~86750~~98000% 6664,~~324~~922,~~443~~306.1049 ~~153~~166,~~204~~597.8685 1,~~402~~206,~~136~~071.6176 M-1 61913PAB8 MEZ 23.~~96750~~08000% 3534,~~321~~574,~~304~~592.7620 8491,~~435~~699.0950 ~~746~~642,~~712~~297.56 M-2 61913PAC6 MEZ 3.~~08750~~20000% 2928,~~433~~811,~~775~~528.6077 7379,~~206~~391.3077 ~~622~~535,~~246~~236.8324 B-1 61913PAD4 SUB 3.~~61750~~73000% 3837,~~460~~646,~~030~~963.2524 ~~112~~120,~~076~~919.2795 ~~813~~699,~~067~~373.0147 B-2 61913PAE2 SUB 4.~~56750~~68000% 15,~~696~~364,~~828~~988.0817 5761,~~754~~920.5290 ~~331~~285,~~839~~437.9177 Owner Trust MORTGA041OT OT 0.00000% 0.00 1,~~427~~197,~~423~~791.1407 0.00 Totals ~~782~~765,~~155~~620,~~402~~190.1517 3,~~258~~187,~~090~~510.5845 1614,~~535~~223,~~211~~045.9800

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~584~~573,~~299~~445,~~811~~183.3010 1312,~~969~~323,~~199~~817.4661 0.00 A-2 0.00 6463,~~922~~716,~~306~~234.4973 1,~~555~~372,~~341~~669.4761 0.00 M-1 0.00 3433,~~574~~932,~~592~~294.2064 ~~831~~733,~~147~~997.6506 0.00 M-2 0.00 28,~~811~~276,~~528~~292.7753 ~~695~~614,~~453~~628.1301 0.00 B-1 0.00 3736,~~646~~947,~~963~~589.2476 ~~925~~820,~~143~~293.2842 0.00 B-2 0.00 15,~~364~~079,~~988~~550.1740 ~~389~~347,~~594~~358.4367 0.00 Owner Trust 0.00 0.00 1,~~427~~197,~~423~~791.1407 0.00 Totals 0.00 ~~765~~751,~~620~~397,~~190~~145.1716 1917,~~793~~410,~~302~~555.5645 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 ~~596~~584,~~919~~299,~~020~~811.3630 0.00 1210,~~619~~854,~~209~~628.0620 0.00 0.00 A-2 68,549,000.00 6664,~~324~~922,~~443~~306.1049 0.00 1,~~402~~206,~~136~~071.6176 0.00 0.00 M-1 36,506,000.00 3534,~~321~~574,~~304~~592.7620 0.00 ~~746~~642,~~712~~297.56 0.00 0.00 M-2 30,421,000.00 2928,~~433~~811,~~775~~528.6077 0.00 ~~622~~535,~~246~~236.8324 0.00 0.00 B-1 39,750,000.00 3837,~~460~~646,~~030~~963.2524 0.00 ~~813~~699,~~067~~373.0147 0.00 0.00 B-2 16,223,308.00 15,~~696~~364,~~828~~988.0817 0.00 ~~331~~285,~~839~~437.9177 0.00 0.00 Owner Trust 0.00 0.00 0.00 0.00 0.00 0.00 Totals 808,389,308.00 ~~782~~765,~~155~~620,~~402~~190.1517 0.00 1614,~~535~~223,~~211~~045.9800 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 1210,~~619~~854,~~209~~628.0620 ~~584~~573,~~299~~445,~~811~~183.3010 0.~~94709341~~92949911 1210,~~619~~854,~~209~~628.0620 A-2 1,~~402~~206,~~136~~071.6176 6463,~~922~~716,~~306~~234.4973 0.~~94709341~~92949911 1,~~402~~206,~~136~~071.6176 M-1 ~~746~~642,~~712~~297.56 3433,~~574~~932,~~592~~294.2064 0.~~94709341~~92949911 ~~746~~642,~~712~~297.56 M-2 ~~622~~535,~~246~~236.8324 28,~~811~~276,~~528~~292.7753 0.~~94709341~~92949911 ~~622~~535,~~246~~236.8324 B-1 ~~813~~699,~~067~~373.0147 3736,~~646~~947,~~963~~589.2476 0.~~94709341~~92949911 ~~813~~699,~~067~~373.0147 B-2 ~~331~~285,~~839~~437.9177 15,~~364~~079,~~988~~550.1740 0.~~94709341~~92949911 ~~331~~285,~~839~~437.9177 Owner Trust 0.00 0.00 0.00000000 0.00 Totals 1614,~~535~~223,~~211~~045.9800 ~~765~~751,~~620~~397,~~190~~145.1716 0.~~94709341~~92949911 1614,~~535~~223,~~211~~045.9800

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 ~~967~~947.~~54793069~~09341476 0.00000000 2017.~~45451593~~59430123 0.00000000 A-2 68,549,000.00 ~~967~~947.~~54793068~~09341478 0.00000000 2017.~~45451589~~59430130 0.00000000 M-1 36,506,000.00 ~~967~~947.~~54793075~~09341478 0.00000000 2017.~~45451597~~59430121 0.00000000 M-2 30,421,000.00 ~~967~~947.~~54793071~~09341475 0.00000000 2017.~~45451596~~59430131 0.00000000 B-1 39,750,000.00 ~~967~~947.~~54793082~~09341484 0.00000000 2017.~~45451597~~59430113 0.00000000 B-2 16,223,308.00 ~~967~~947.~~54793042~~09341461 0.00000000 2017.~~45451581~~59430136 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 2017.~~45451593~~59430123 ~~947~~929.~~09341476~~49911353 0.~~94709341~~92949911 2017.~~45451593~~59430123 A-2 0.00000000 2017.~~45451589~~59430130 ~~947~~929.~~09341478~~49911348 0.~~94709341~~92949911 2017.~~45451589~~59430130 M-1 0.00000000 2017.~~45451597~~59430121 ~~947~~929.~~09341478~~49911357 0.~~94709341~~92949911 2017.~~45451597~~59430121 M-2 0.00000000 2017.~~45451596~~59430131 ~~947~~929.~~09341475~~49911344 0.~~94709341~~92949911 2017.~~45451596~~59430131 B-1 0.00000000 2017.~~45451597~~59430113 ~~947~~929.~~09341484~~49911346 0.~~94709341~~92949911 2017.~~45451597~~59430113 B-2 0.00000000 2017.~~45451581~~59430136 ~~947~~929.~~09341461~~49911325 0.~~94709341~~92949911 2017.~~45451581~~59430136 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.~~80750~~92000% ~~596~~584,~~919~~299,~~020~~811.3630 1,~~349~~469,~~990~~189.4041 0.00 0.00 A-2 68,549,000.00 2.~~86750~~98000% 6664,~~324~~922,~~443~~306.1049 ~~153~~166,~~204~~597.8685 0.00 0.00 M-1 36,506,000.00 23.~~96750~~08000% 3534,~~321~~574,~~304~~592.7620 8491,~~435~~699.0950 0.00 0.00 M-2 30,421,000.00 3.~~08750~~20000% 2928,~~433~~811,~~775~~528.6077 7379,~~206~~391.3077 0.00 0.00 B-1 39,750,000.00 3.~~61750~~73000% 3837,~~460~~646,~~030~~963.2524 ~~112~~120,~~076~~919.2795 0.00 0.00 B-2 16,223,308.00 4.~~56750~~68000% 15,~~696~~364,~~828~~988.0817 5761,~~754~~920.5290 0.00 0.00 Owner Trust 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 808,389,308.00 1,~~830~~989,~~667~~719.4438 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,~~349~~469,~~990~~189.4041 0.00 ~~584~~573,~~299~~445,~~811~~183.3010 A-2 0.00 0.00 ~~153~~166,~~204~~597.8685 0.00 6463,~~922~~716,~~306~~234.4973 M-1 0.00 0.00 8491,~~435~~699.0950 0.00 3433,~~574~~932,~~592~~294.2064 M-2 0.00 0.00 7379,~~206~~391.3077 0.00 28,~~811~~276,~~528~~292.7753 B-1 0.00 0.00 ~~112~~120,~~076~~919.2795 0.00 3736,~~646~~947,~~963~~589.2476 B-2 0.00 0.00 5761,~~754~~920.5290 0.00 15,~~364~~079,~~988~~550.1740 Owner Trust 0.00 0.00 1,~~427~~197,~~423~~791.1407 0.00 0.00 Totals 0.00 0.00 3,~~258~~187,~~090~~510.5845 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.~~80750~~92000% ~~967~~947.~~54793069~~09341476 2.~~18820372~~38141377 0.00000000 0.00000000 A-2 68,549,000.00 2.~~86750~~98000% ~~967~~947.~~54793068~~09341478 2.~~23496856~~43034691 0.00000000 0.00000000 M-1 36,506,000.00 23.~~96750~~08000% ~~967~~947.~~54793075~~09341478 2.~~31290993~~51190215 0.00000000 0.00000000 M-2 30,421,000.00 3.~~08750~~20000% ~~967~~947.~~54793071~~09341475 2.~~40643963~~60976858 0.00000000 0.00000000 B-1 39,750,000.00 3.~~61750~~73000% ~~967~~947.~~54793082~~09341484 23.~~81952881~~04201132 0.00000000 0.00000000 B-2 16,223,308.00 4.~~56750~~68000% ~~967~~947.~~54793042~~09341461 3.~~55997186~~81678632 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.~~18820372~~38141377 0.00000000 ~~947~~929.~~09341476~~49911353 A-2 0.00000000 0.00000000 2.~~23496856~~43034691 0.00000000 ~~947~~929.~~09341478~~49911348 M-1 0.00000000 0.00000000 2.~~31290993~~51190215 0.00000000 ~~947~~929.~~09341478~~49911357 M-2 0.00000000 0.00000000 2.~~40643963~~60976858 0.00000000 ~~947~~929.~~09341475~~49911344 B-1 0.00000000 0.00000000 23.~~81952881~~04201132 0.00000000 ~~947~~929.~~09341484~~49911346 B-2 0.00000000 0.00000000 3.~~55997186~~81678632 0.00000000 ~~947~~929.~~09341461~~49911325 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 2017,~~034~~660,~~862~~450.5775 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4942,~~085~~536.8606 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2017,~~083~~702,~~948~~986.4381 Withdrawals Reimbursement for Servicer Advances 4249,~~064~~085.2286 Payment of Service Fee ~~248~~243,~~581~~345.6550 Payment of Interest and Principal 1917,~~793~~410,~~302~~555.5645 Total Withdrawals (Pool Distribution Amount) 2017,~~083~~702,~~948~~986.4381 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~245~~240,~~310~~143.8459 Master Servicing Fee 3,~~270~~201.8191 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~248~~243,~~581~~345.6550

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 3327 0 0 0 3327 108,~~457~~452,~~268~~733.6048 0.00 0.00 0.00 108,~~457~~452,~~268~~733.6048 60 Days 13 0 0 0 13 ~~302~~1,~~400~~050,951.0067 0.00 0.00 0.00 ~~302~~1,~~400~~050,951.0067 90 Days 20 0 0 0 20 ~~550,500~~0.00 0.00 0.00 0.00 ~~550,500~~0.00 120 Days 0 0 01 0 01 0.00 0.00 0216,800.00 0.00 0216,800.00 150 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 3630 0 01 0 3631 119,~~310~~503,~~168~~685.6015 0.00 0216,800.00 0.00 119,~~310~~720,~~168~~485.6015 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.~~226766~~018484% 0.000000% 0.000000% 0.000000% 1.~~226766~~018484% 1.~~360646~~120514% 0.000000% 0.000000% 0.000000% 1.~~360646~~120514% 60 Days 0.~~037175~~113165% 0.000000% 0.000000% 0.000000% 0.~~037175~~113165% 0.~~039347~~139317% 0.000000% 0.000000% 0.000000% 0.~~039347~~139317% 90 Days 0.~~074349~~000000% 0.000000% 0.000000% 0.000000% 0.~~074349~~000000% 0.~~071628~~000000% 0.000000% 0.000000% 0.000000% 0.~~071628~~000000% 120 Days 0.000000% 0.000000% 0.~~000000~~037722% 0.000000% 0.~~000000~~037722% 0.000000% 0.000000% 0.~~000000~~028740% 0.000000% 0.~~000000~~028740% 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.~~338290~~131648% 0.000000% 0.~~000000~~037722% 0.000000% 1.~~338290~~169370% 1.~~471620~~259831% 0.000000% 0.~~000000~~028740% 0.000000% 1.~~471620~~288571%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4942,~~085~~536.8606

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~360554~~357506% Weighted Average Net Coupon 4.~~985554~~982506% Weighted Average Pass-Through Rate 4.~~980554~~977506% Weighted Average Maturity (Stepdown Calculation ) ~~356~~355 Beginning Scheduled Collateral Loan Count 2,~~733~~690 Number Of Loans Paid In Full 4339 Ending Scheduled Collateral Loan Count 2,~~690~~651 Beginning Scheduled Collateral Balance ~~784~~768,~~994~~459,~~702~~490.2830 Ending Scheduled Collateral Balance ~~768~~754,~~459~~236,~~490~~445.30 Ending Actual Collateral Balance at 31-~~Dec~~Jan-~~2004~~2005 ~~768~~754,~~551~~361,~~996~~870.7152 Monthly P&I Constant 3,~~700~~621,~~397~~570.95 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~193~~190,~~726~~715.1437 Unscheduled Principal 1614,~~341~~032,~~485~~329.8463 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,~~427~~197,~~423~~791.1407

Miscellaneous Reporting BSB 3 -Year Hybrid Mortgage Loans ~~333~~328,~~349~~553,~~800~~803.1947 ESB 3 -Year Hybrid Mortgage Loans ~~328~~323,~~553~~213,~~803~~766.4751 BSB 5 -Year Hybrid Mortgage Loans ~~428~~417,~~002~~698,~~103~~940.3835 ESB 5 -Year Hybrid Mortgage Loans ~~417~~409,~~698~~658,~~940~~205.3581 Average Loss Severity Percentage 0.000000% Yield Maintenance Amount 0.00

Filing Compare · MortgageIT Trust 2004-1