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) September 27, 2004

Accredited Home Lenders, Inc.
(Exact name of registrant as specified in its charter)

California
(State or other jurisdiction
of incorporation)

333-109964
(Commission
File Number)

33-0426859
(IRS Employer
Identification No.)

Attention: General Counsel, 15090 Avenue of Science, San Diego, CA
(Address of principal executive offices)

92128
(Zip Code)

Registrant's telephone number, including area code 858-676-2100

(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))

Section 8 - Other Events

Item 8.01. Other Events.

This current report on Form 8-K relates to the monthly distribution reported to the holders of Accredited Mortgage Loan Trust 2004-2 Asset-Backed Notes, Series 2004-2, which was made on September 27, 2004.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to Section 2.08 of the Indenture for the distribution on September 27, 2004.

(Exhibit No. Description)

SIGNATURES

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.

LASALLE BANK NATIONAL ASSOCIATION, IN ITS CAPACITY AS INDENTURE TRUSTEE UNDER THE SALE AND SERVICING AGREEMENT ON BEHALF OF ACCREDITED HOME LENDERS, INC., REGISTRANT

By: /s/ Russell Goldenberg
Russell Goldenberg
Group Senior Vice President

Date: September 30, 2004

Accredited Mortgage Loan Trust

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1

Reporting Package Table of Contents

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Administrator:

Stefanie Edwards 312.904.8975
stefanie.edwards@abnamro.com

Analyst:

Christine Paidosh 714.259.6207
christine.paidosh@abnamro.com

Statement Date:

135 S. LaSalle Street, Suite 1625
Chicago, IL 60603
USA

Statements to Certificateholders
Cash Reconciliation Summary
Bond Interest Reconciliation
Other Related Information

Other Related Information

Asset-Backed Facts ~ 15 Month Loan Status Summary
Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary

Realized Loss Detail
Repurchase Loan Detail

Page 2
Page 3-5
Page 6
Page 7

Page 8

Page 9-11
Page 12-14

Page 15-17
Page 18

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

AMLT0402

AMLT0402_200409_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

26-May-04
25-Jun-04

25-Jul-34

Parties to The Transaction

Issuer: Accredited Mortgage Loan Trust 2004-2

Underwriter: Credit Suisse First Boston LLC

Master Servicer: Accredited Home Lenders, Inc.

Rating Agency: Moody's Investors Service, Inc./Standard & Poor's

800.246.5761

LaSalle Factor Line

LaSalle Web Site

www.etrustee.net

Page 1 of 18

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

6.371355%

1.620000%
1.840000%

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Accredited Mortgage Loan Trust

Asset-Backed Notes

Series 2004-2

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

349

Indenture

Statement Date:

ABN AMRO Acct: 721827.1

980.316384833

11.253469988

0.000000000

969.062914845

1.716370602

0.00

0.000000000

1.91000000%

0.000000000

004375AW1

A-1

342,200,000.00

335,464,266.89

3,850,937.43

0.00

331,613,329.46

587,342.02

981.299255281

6.529182540

0.000000000

974.770072742

1.727086689

0.00

0.000000000

1.92000000%

0.000000000

004375AX9

A-2

342,720,000.00

336,310,880.77

2,237,681.44

0.00

334,073,199.33

591,907.15

0.000000000

3.238232071

0.00

2,217,929.91

3.238232071

N/A

0.000000000

9ABSQ852

CERTIFICATE

0.00

2,217,929.91

Total P&I Payment

0.00

2,217,929.91

684,920,000.00

671,775,147.66

9,485,797.95

Total

665,686,528.79

6,088,618.87

0.00

3,397,179.08

Page 2 of 18

Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1

Statement Date:

Cash Reconciliation Summary

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

3,598,651.78

0.00

)

(67.28

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

3,678,704.00

Unscheduled Interest:
Prepayment Penalties

112,271.57

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

112,271.57

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances
Recoup of Prior Advances
Misc. Fees & Expenses

Total Unscheduled Fees & Expenses

Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding
Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Scheduled Principal:
Current Scheduled Principal
Advanced Scheduled Principal
Scheduled Principal
Unscheduled Principal:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds
Total Unscheduled Principal
Remittance Principal

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding

Plus Current Period

Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts
PPIS Reducing Scheduled Interest
PPIS Reducing Servicing Fee

PPIS Due Certificate

0.00

0.00
0.00

0.00

3,508,126.30

0.00
0.00
0.00
0.00

0.00

496,294.60

12,103.60

508,398.20

682,989.29

4,897,231.92

0.00
0.00
0.00

5,580,221.21
6,088,619.41

9,596,745.70

694,051,947.37

4,130

508,398.20

5,580,221.21

0.00
0.00

0.00

687,963,328.51

4,099

7,278.09

61,763.86

12,103.60

80,119.51

13,191.84

87,510.12

282,916.56

0.00

)

(67.28

6,271.76

289,121.03

3,616.53

)

(3,549.24

0.00
0.00

67.28
67.28

0.00

Advance Summary (Advance Made by Servicer)

)

(282,849.27

3,508,126.30

Interest Not Advanced (

Current Period

)

0.00

80,119.51

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(54,373.24

)

(6,189.84

0.00

Page 3 of 18

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1

Statement Date:

Cash Reconciliation Summary Loan Group 1

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

1,811,711.59

0.00

)

(194.44

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

1,853,878.70

Unscheduled Interest:
Prepayment Penalties

85,203.62

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

85,203.62

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances
Recoup of Prior Advances
Misc. Fees & Expenses

Total Unscheduled Fees & Expenses

Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding
Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding

Plus Current Period

Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts
PPIS Reducing Scheduled Interest
PPIS Reducing Servicing Fee

PPIS Due Certificate

0.00

0.00
0.00

0.00

1,798,292.20

0.00
0.00
0.00
0.00

0.00

243,615.80

6,205.58

249,821.38

665,974.44

2,935,141.85

0.00
0.00
0.00

3,601,116.30
3,850,937.68

5,649,229.88

346,594,233.64

2,230

249,821.38

3,601,116.30

0.00
0.00

0.00

342,743,296.21

2,207

4,333.80

35,246.08

6,205.58

42,361.56

7,397.10

51,232.10

140,984.56

0.00

)

(194.44

3,429.70

144,219.82

2,481.43

)

(2,286.99

0.00
0.00

194.44
194.44

0.00

Advance Summary (Advance Made by Servicer)

)

(140,790.12

1,798,292.20

Interest Not Advanced (

Current Period

)

0.00

42,361.56

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(26,375.54

)

(3,142.28

0.00

Page 4 of 18

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1

Statement Date:

Cash Reconciliation Summary Loan Group 2

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

1,786,940.19

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

1,824,698.14

Unscheduled Interest:
Prepayment Penalties

27,067.95

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

27,067.95

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances
Recoup of Prior Advances
Misc. Fees & Expenses

Total Unscheduled Fees & Expenses

Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding
Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding

Plus Current Period

Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts
PPIS Reducing Scheduled Interest
PPIS Reducing Servicing Fee

PPIS Due Certificate

0.00

0.00
0.00

0.00

1,709,834.09

0.00
0.00
0.00
0.00

0.00

252,678.80

5,898.02

258,576.82

17,014.84

1,962,090.07

0.00
0.00
0.00

1,979,104.91
2,237,681.73

3,947,515.82

347,457,713.74

1,900

258,576.82

1,979,104.91

0.00
0.00

0.00

345,220,032.30

1,892

2,944.29

26,517.77

5,898.02

37,757.95

5,794.75

36,278.02

141,932.00

0.00
0.00

2,842.05

144,774.05

1,135.10

)

(1,135.10

0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(141,932.00

1,709,834.09

Interest Not Advanced (

Current Period

)

0.00

37,757.95

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(27,997.70

)

(3,047.56

0.00

Page 5 of 18

Accredited Mortgage Loan Trust

Class

Accrued

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1
Bond Interest Reconciliation

Deductions

Allocable

Deferred &

Prior

Prepay-

Other

Additions

Interest

Credit Support

Original

Current(4)

Accrual

Int. Short-

falls Due

ment

Interest

Interest (2)

Payment

Amount

PPIS

Interest

Certificate

Accretion

Interest

Loss/Exp

Interest

Penalties

Proceeds (1)

Interest

Shortfalls

Certificate

Rate

Pass
Thru

Method Days

Outstanding

Remaining

Statement Date:

Distributable

Current Period

(Shortfall)/

Recovery

Int Accrual

on Prior

Shortfall (3)

0.00

A-1

587,342.02

0.00

Act/360

1.910000000%

0.00

A-2

591,907.15

0.00

Act/360

1.920000000%

0.00

CERTIFICATE

0.00

2,217,929.91

0.00

0.000000000%

0.00

1,179,249.17

3,397,179.08

0.00

(2) Accrued - Deductions + Additions Interest

(3) Includes interest accrued on outstanding Interest Shortfalls and/or Loss Allocations. Where applicable.

Page 6 of 18

(1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

(4) Determined as follows: (A) the ending balance of all the classes less (B) the sum of (i) the ending balance of the class and (ii) the ending balance of all classes which are not subordinate to the class divided by (A).

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1

Other Related Information

Statement Date:

Specified Overcollateralization Amount - Total:

Specified Overcollateralization Amount - Loan Group 2:

Specified Overcollateralization Amount - Loan Group 1:

Overcollateralization Amount - Total:

Overcollateralization Amount - Loan Group 1;

Overcollateralization Amount - Loan Group 2:

Overcollateralization Increase Amount - Loan Group 1:

Overcollateralization Increase Amount - Loan Group 2 :

Step-Up Test Event Status:

Aggregate Outstanding Balance of all 60+ Days Delinquent Mortgage Loans:

Libor Rate Used:

Insured Amount included in the amount paid to Noteholders:

22,276,799.72

11,129,966.75

11,146,832.97

22,276,799.72

11,129,966.75

11,146,832.97

0.00

608,464.31

1.62

0.00

Not Occurring

Note Insurer Premium:

110,947.75

Page 7 of 18

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1

Other Related Information

Statement Date:

Class A-1 Available Funds Cap Carry-Forward Amount:

Amount Not Covered by Reserve Account:

Amount Covered by Reserve Account:

Class A-2 Available Funds Cap Carry-Forward Amount:

Amount Covered by Reserve Account:

Amount Not Covered by Reserve Account:

Reserve Fund Ending Balance - Loan Group 1:

Reserve Fund Ending Balance - Loan Group 2 :

Class A-1 Interest Rate Cap Payment:

Class A-2 Interest Rate Cap Payment:

0.00

Page 8 of 18

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

ABN AMRO Acct: 721827.1

0.05%

0.02%

0.03%

0.02%

282,715

0.04%

0.02%

0.00%

27-Sep-04

341,554

199,050

126,699

0.07%

0.06%

0.02%

0.04%

0.00%

25-Aug-04

440,729

282,933

0.14%

0.00%

0.02%

0.03%

0.00%

26-Jul-04

963,010

235,764

0.02%

0.00%

0.02%

0.03%

0.00%

25-Jun-04

159,185

235,935

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 9 of 18

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

Loan Group 1

ABN AMRO Acct: 721827.1

0.09%

0.10%

0.05%

0.06%

0.05%

282,715

0.08%

0.00%

27-Sep-04

341,554

199,050

0.09%

0.04%

0.08%

0.00%

25-Aug-04

313,904

282,933

0.93%

0.87%

0.13%

0.16%

0.00%

0.04%

0.07%

0.00%

26-Jul-04

3,047,328

546,234

235,764

0.22%

0.23%

0.04%

0.05%

0.00%

0.04%

0.07%

0.00%

25-Jun-04

799,758

159,185

235,935

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 10 of 18

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

Loan Group 2

ABN AMRO Acct: 721827.1

0.00%

0.05%

0.04%

0.00%

27-Sep-04

126,699

0.05%

0.04%

0.00%

25-Aug-04

126,825

1.00%

1.10%

0.16%

0.12%

0.00%

26-Jul-04

3,861,133

416,776

0.31%

0.36%

0.00%

25-Jun-04

1,268,640

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 11 of 18

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Penalties

Appraisal Reduct. (2)

Liquidations (2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Amort

ABN AMRO Acct: 721827.1

Series 2004-2

27-Sep-04

4,099

97.95%

687,963,329

97.28%

0.68%

0.71%

0.00%

349

6.37%

5.87%

112,272

4,897,232

25-Aug-04

4,130

98.69%

694,051,947

98.14%

0.67%

0.83%

0.00%

350

6.38%

5.88%

103,667

5,832,049

26-Jul-04

4,158

99.35%

700,434,389

99.04%

0.45%

0.52%

0.00%

351

6.38%

5.88%

77,901

3,630,449

25-Jun-04

4,177

99.81%

704,624,537

99.64%

0.19%

0.29%

0.00%

352

6.37%

5.87%

26,489

2,030,382

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 12 of 18

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Penalties

Appraisal Reduct. (2)

Liquidations (2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Loan Group 1

Amort

ABN AMRO Acct: 721827.1

Series 2004-2

27-Sep-04

2,207

52.74%

342,743,296

48.46%

0.90%

0.85%

0.00%

350

6.43%

5.93%

85,204

2,935,142

25-Aug-04

2,230

53.29%

346,594,234

49.01%

0.84%

1.03%

0.00%

351

6.44%

5.94%

66,361

3,617,159

26-Jul-04

2,249

53.74%

350,478,955

49.56%

0.44%

0.36%

0.00%

352

6.44%

5.94%

17,281

1,258,563

25-Jun-04

2,259

53.98%

352,014,312

49.78%

0.22%

0.30%

0.00%

353

6.44%

5.94%

18,439

1,050,614

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 13 of 18

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Penalties

Appraisal Reduct. (2)

Liquidations (2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Loan Group 2

Amort

ABN AMRO Acct: 721827.1

Series 2004-2

27-Sep-04

1,892

45.21%

345,220,032

48.82%

0.42%

0.56%

0.00%

348

6.31%

5.81%

27,068

1,962,090

25-Aug-04

1,900

45.40%

347,457,714

49.13%

0.47%

0.63%

0.00%

350

349

6.31%

5.81%

37,306

2,214,889

26-Jul-04

1,909

45.62%

349,955,434

49.48%

0.47%

0.67%

0.00%

350

6.31%

5.81%

60,620

2,371,886

25-Jun-04

1,918

45.83%

352,610,226

49.86%

0.16%

0.28%

0.00%

351

6.30%

5.80%

8,050

979,768

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 14 of 18

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation
Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

Current Total
Cumulative

Page 15 of 18

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation
Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

Loan Group 1

Current Total
Cumulative

Page 16 of 18

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation
Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

Loan Group 2

Current Total
Cumulative

Page 17 of 18

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

Accredited Mortgage Loan Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Notes

Series 2004-2

ABN AMRO Acct: 721827.1

Repurchased Loan Detail

Period

Statement Date:

Loan #

Net Sales

Proceeds

Deal

Advances

Deal Advanced

Gross Interest

Net Liquidation

Proceeds

Liquidated
Principal *

Loss to

Trust

Percentage
Recovered

Current Total
Cumulative

Page 18 of 18

Accredited Mortgage Loan Trust 2004-2 8-K