ACCREDITED

HOME LENDERS

March 15, 2005

Management's Assertion

As of and for the year ended December 31, 2004, Accredited Home Lenders, Inc. (the
"Company"), has complied, in all material respects, with the Company's established minimum
servicing standards for residential mortgage loans originated or acquired subsequent to November
1, 2000, as set forth in Appendix I (the "Standards"). The Standards are based on the Mortgage
Banker's Association of America's Uniform Single Attestation Program for Mortgage Bankers.
As of and for this same period, the Company had in effect a fidelity bond in the amount of $5
million (except the period from November 1, 2004, through December 31, 2004, for which the
amount of the fidelity bond was $10 million) and an errors and omissions policy in the amount of
$4.3 million.

/s/ James A. Konrath
James A. Konrath
Chief Executive Officer

/s/ Jeffrey Crawford
Jeffrey Crawford
Director of Operations

/s/ John Buchanan
John Buchanan
Chief Financial Officer

/s/ Michael Bojorquez
Michael Bojorquez
Controller

National Headquarters
15090 Avenue of Science
San Diego, CA 92128
T 800.690.6000 F 858.676.2170
www.accredhome.com

APPENDIX I

MINIMUM SERVICING STANDARDS

AS SET FORTH IN THE MORTGAGE BANKERS ASSOCIATION OF AMERICA'S

UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS

I. CUSTODIAL BANK ACCOUNTS

1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related
bank clearing accounts. These reconciliations shall:

* Be mathematically accurate;
* Be prepared within forty-five (45) calendar days after the cutoff date;
* Be reviewed and approved by someone other than the person who prepared the
reconciliation; and
* Document explanations for reconciling items. These reconciling items shall be resolved
within ninety (90) calendar days of their original identification.

2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an
investor's or a mortgagor's account.

3. Each custodial account shall be maintained at a federally insured depository institution in trust
for the applicable investor.

4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30)
calendar days of payoff of the mortgage loan.

II. MORTGAGE PAYMENTS

1. Mortgage payments shall be deposited into the custodial bank accounts and related bank
clearing accounts within two business days of receipt.

2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted
to the applicable mortgagor records within two business days of receipt.

3. Mortgage payments shall be allocated to principal, interest, insurance, taxes or other escrow
items in accordance with the mortgagor's loan documents.

4. Mortgage payments identified as loan payoffs shall be allocated in accordance with the
mortgagor's loan documents.

III. DISBURSEMENTS

I. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only
by authorized personnel.

2. Disbursements made on behalf of a mortgagor or investor shall be posted within two business
days to the mortgagor's or investor's records maintained by the servicing entity.

3. Tax and insurance payments shall be made on or before the penalty or insurance policy
expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided
that such support has been received by the servicing entity at least thirty (30) calendar days prior
to these dates.

4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance
premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor,
unless the late payment was due to the mortgagor's error or omission.

5. Amounts remitted to investors per the servicer's investor reports shall agree with canceled
checks, or other form of payment, or custodial bank statements.

6. Unused checks shall be safeguarded so as to prevent unauthorized access.

IV. INVESTOR ACCOUNTING AND REPORTING

1. The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a
monthly basis as to the total unpaid principal balance and number of loans serviced by the
servicing entity.

V. MORTGAGOR LOAN ACCOUNTING

1. The servicing entity's mortgage loan records shall agree with, or reconcile to, the records of
mortgagors with respect to the unpaid principal balance on a monthly basis.

2. Adjustments on ARM loans shall be computed based on the related mortgage note and any
ARM rider.

3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at
least an annual basis.

4. Interest on escrow accounts shall be paid, or credited, to mortgagors in accordance with the
applicable state laws.

VI. DELINQUENCIES

1. Records documenting collection efforts shall be maintained during the period a loan is in
default and shall be updated at least monthly. Such records shall describe the entity's activities in
monitoring delinquent loans including, for example, phone calls, letters and mortgage payment
rescheduling plans in cases where the delinquency is deemed temporary (e.g., illness or
unemployment).

VII. INSURANCE POLICIES

1. A fidelity bond and errors and omissions policy shall be in effect on the servicing entity
throughout the reporting period in the amount of coverage represented to investors in
management's assertion.

Accredited Mortgage Loan Trust 2004-2 10-K