UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-K

[X]      Annual  report  pursuant  to  Section  13 or  15(d)  of the Securities
         Exchange   Act  of  1934  for the  fiscal year ended December 31, 2004

[  ]     Transition report pursuant to Section 13 or 15(d) of the
         Securities Exchange Act of 1934 for the transition period from   to


                        Commission File Number 333-115435-01

               CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
             (Exact name of registrant as specified in its charter)

         Delaware                                            13-3320910
(State or other jurisdiction of                           I.R.S. Employer
incorporation or organization)                            Identification No.)

11 Madison Ave.
New York, New York                                             10010
(Address of Principal Executive Offices)                      (Zip Code)

       Registrant's telephone number, including area code :(212)325-2000

                    HOME EQUITY MORTGAGE TRUST SERIES 2004-3
          HOME EQUITY MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-3
            (Title of each class of securities covered by this Form)

Securities registered pursuant to Section 12(b) of the Act:  None
Securities registered pursuant to Section 12(g) of the Act:  None

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]

Indicate by check mark whether the registrant is an accelerated filer (as
defined in Exchange Act Rule 12b-2). Yes  No [X]

Documents incorporated by reference:  None



<PAGE>

PART I

Item 1.  Business.

         Not Applicable.

Item 2.  Properties.

         Not Applicable.

Item 3.  Legal Proceedings.

     The Registrant is not aware of any material legal  proceeding  with respect
to, the Registrant,  the Servicers,  or the Trustee, in each case if applicable,
as related to the Trust.

Item 4.  Submission of Matters to a Vote of Security Holders.

     No matter was  submitted  to a vote or  consent  of Holders of the  Offered
Certificates during the fiscal year covered by this report.


PART II

Item 5. Market for Registrant's Common Equity,  Related Stockholder Matters
        and Issuer Purchases of Equity Securities.

     The Trust does not issue stock. There is currently no established secondary
market for the  Certificates.  As of December 31, 2004, the Trust had 40 holders
of Certificates.


Item 6.  Selected Financial Data.

         Not Applicable.

Item 7.  Management's Discussion and Analysis of Financial condition and
         Results of Operation.

         Not Applicable.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

         Not Applicable.

Item 8.  Financial Statements and Supplementary Data.

         Not Applicable.

Item 9.  Changes in and Disagreements with Accountants on Accounting and
         Financial Disclosure.

     There was no change of accountants or disagreement  with accountants on any
matter of accounting principles or practices or financial disclosure.

Item 9A. Controls and Procedures.

         Not Applicable.

Item 9B. Other Information.

         Not Applicable.

                                      -2-

<PAGE>

PART III

Item 10. Directors and Executive Officers of the Registrant.

         Not Applicable.

Item 11. Executive Compensation.

         Not Applicable.

Item 12. Security Ownership of Certain Beneficial Owners and Management.

         Not Applicable.

Item 13. Certain Relationships and Related Transactions.

        No reportable transactions have occurred.

Item 14. Principal Accounting Fees and Services.

         Not Applicable.

PART IV

Item 15. Exhibits, Financial Statement Schedules.

(a) The following documents are filed as part of this report:

    (1) Financial Statements:

         Not Applicable.

    (2)  Financial Statement Schedules:

         Not Applicable.

    (3)  Exhibits:

     Rule 13a-14(a)/15d-14(a) Certification, filed as 31.1 hereto.

     Annual Independent Accountants' Servicing Report
     with Management Assertion, filed as Exhibit 99.1 hereto.

     Annual Servicer's Statement as to Compliance,filed as Exhibit 99.2, hereto.

(b) Exhibits to this report are listed in Item (15)(a)(3)above.

(c) Not Applicable.


                                      -3-
<PAGE>


HOME EQUITY MORTGAGE TRUST SERIES 2004-3
HOME EQUITY MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-3
-------------------------------------------------------------


SIGNATURE

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  registrant  has duly  caused  this report to be signed on its
behalf by the undersigned thereunto duly authorized.

By: /s/  Andrew Kimura
-----------------------------
Name:   Andrew Kimura

Title:  President

Company:CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

Date:   March 29, 2005





                                      -4-
<PAGE>

SUPPLEMENTAL  INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION
15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO
SECTION 12 OF THE ACT.

The  registrant  has not sent an annual report or proxy material to its security
holders.  The registrant  will not be sending an annual report or proxy material
to its security holders subsequent to the filing of this form.

                                      -5-
<PAGE>



                                 EXHIBIT INDEX

Exhibit     Description

31.1    Rule 13a-14(a)/15d-14(a) Certification

99.1    Annual Independent Accountant's Servicing Report
        with Management Assertion

        Wilshire Credit Corporation, as Servicer
        Option One Mortgage Corporation, as Servicer

99.2    Annual Servicer's Statement as to Compliance

        Wilshire Credit Corporation, as Servicer
        Option One Mortgage Corporation, as Servicer



                                      -6-

<PAGE>
                                  EXHIBIT 31.1
                 Annual Rule 13a-14(a)/15d-14(a) Certification


I, Andrew Kimura, certify that:

1.   I have reviewed  this annual  report on Form 10-K,  and all reports on Form
     8-K  containing  distribution  or  servicing  reports  filed in  respect of
     periods  included  in the year  covered by this  annual  report,  of Credit
     Suisse First Boston Mortgage  Securities  Corp., Home Equity Mortgage Trust
     2004-3, Home Equity Mortgage Pass-Through Certificates, Series 2004-3;

2.   Based on my knowledge,  the information in these reports, taken as a whole,
     does not contain any untrue statement of a material fact or omit to state a
     material  fact  necessary  to make  the  statements  made,  in light of the
     circumstances  under which such  statements were made, not misleading as of
     the last day of the period covered by this annual report;

3.   Based on my knowledge,  the distribution or servicing  information required
     to be  provided  to the  trustee  by the  servicer  under the  pooling  and
     servicing,  or  similar,  agreement,  for  inclusion  in these  reports  is
     included in these reports;

4.   Based on my knowledge and upon the annual compliance  statement included in
     the report and required to be delivered to the trustee in  accordance  with
     the terms of the pooling and servicing agreement, or similar agreement, and
     except  as  disclosed  in the  reports,  the  servicer  has  fulfilled  its
     obligations under the servicing agreement; and

5.   The  reports  disclose  all  significant   deficiencies   relating  to  the
     servicer's  compliance with the minimum servicing  standards based upon the
     report provided by an independent  public  accountant,  after  conducting a
     review in  compliance  with the  Uniform  Single  Attestation  Program  for
     Mortgage  Bankers or similar  procedure,  as set forth in the  pooling  and
     servicing or similar agreement that is included in these reports.

In giving the  certifications  above,  I have  reasonably  relied on information
provided to me by the  following  unaffiliated  parties:  each  Servicer and the
Trustee.

By: /s/  Andrew Kimura
-----------------------------
Name:   Andrew Kimura

Title:  President

Company:CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

Date:   March 29, 2005

                                       -7-
<PAGE>


                                  EXHIBIT 99.1

                Annual Independent Accountants' Servicing Report
                            with Management Assertion
                                  -------------

Deloitte & Touche LLP
Suite 3900
111 SW Fifth Avenue
Portland, OR  97204-3642
USA
Tel: +1 503 222 1341
Fax: +1 503 224 2172
www.deloitte.com


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors
Wilshire Credit Corporation

We have examined management's assertion that Wilshire Credit Corporation, a
wholly-owned subsidiary of Merrill Lynch Mortgage Capital Inc., a division of
Merrill Lynch & Co., New York, NY (the "Company") has complied as of and for the
year-ended December 31, 2004, with its established minimum servicing standards
described in the accompanying Management's Assertion on Minimum Servicing
Standards, dated February 28, 2005. Management is responsible for the Company's
compliance with those minimum servicing standards. Our responsibility is to
express an opinion on management's assertion about the Company's compliance
based on our examination.

Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants, as
adopted by the Public Company Accounting Oversight Board (United States) and,
accordingly, included examining, on a test basis, evidence about the Company's
compliance with its minimum servicing standards and performing such other
procedures as we considered necessary in the circumstances. We believe that our
examination provides a reasonable basis for our opinion. Our examination does
not provide a legal determination on the Company's compliance with its minimum
servicing standands.

In our opinion, management's assertion that the Company complied with the
aforementioned minimum servicing standards as of and for the year ended December
31, 2004 is fairly stated, in all material respects, based on the criteria set
forth in Appendix I.

By:  /s/ Deloitte & Touche LLP
--------------------------

February 28, 2005

                                      -8-

<page>
                                                                       Wilshire

                            MANAGEMENT'S ASSERTION ON
                           MINIMUM SERVICING STANDARDS


As of and for the year ended December 31, 2004,  Wilshire Credit Corporation has
complied,   in  all  material  respects,   with  Wilshire  Credit  Corporation's
established  minimum servicing  standards for residential  mortgage loans 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,  Wilshire  Credit  Corporation  had in effect an
errors and  omission  policy in the amount of  $5,000,000  from  January 1, 2004
through  April 30, 2004 and  $25,000,000  from May 1, 2004 through  December 31,
2004,  and a fidelity  bond in the amount of  $20,000,000  from  January 1, 2004
through  April 30, 2004 and fidelity  bonds in the total amount of  $265,000,000
from May 1, 2004 through December 31, 2004.



By:  /s/ Jay Memmott
-------------------------------------------------
Jay Memmott, President and Chief Executive Officer
Wilshire Credit Corporation
February 28, 2005

By:  /s/ Russell Campbell
-------------------------------------------------
Russell Campbell,  Chief Financial Officer
Wilshire Credit Corporation
February 28, 2005

By:  /s/ Ken Frye
-------------------------------------------------
Ken Frye, Senior Vice President
Wilshire Credit Corporation
February 28, 2005


                                      -9-

<page>

                                                                     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

1.   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 cancelled  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

     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

     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

     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.

                                      -10-
<page>

KPMG LLP
Suite 2000
355 South Grand Avenue
Los Angeles, CA  90071


                        Independent Accountants' Report


To the Board of Directors and Stockholder
of Option One Mortgage Corporation

We have examined management's assertion, included in the accompanying management
assertion,  that  Option One  Mortgage  Corporation  complied  with the  minimum
servicing  standards set forth in the Mortgage Bankers  Association of America's
Uniform Single  Attestation  Program for Mortgage Bankers as of and for the year
ended  December  31, 2004.  Management  is  responsible  for Option One Mortgage
Corporation's   compliance   with  those  minimum   servicing   standards.   Our
responsibility  is to express an opinion  on  management's  assertion  about the
Company's compliance based on our examination.

Our examination was made in accordance with attestion  standards  established by
the  American  Institute  of  Certified  Public  Accountants  and,  accordingly,
included  examining,  on a test basis,  evidence  about the Option One  Mortgage
Corporation's  compliance with the minimum servicing  standards  specified above
and  performing  other  such  procedures  as  we  considered  necessary  in  the
circumstances.  We believe that our examination  provides a reasonable basis for
our opinion.  Our examination  does not provide a legal  determination on Option
One Mortgage Corporation's compliance with the minimum servicing standards.

In our opinion,  management's  assertion  that Option One  Mortgage  Corporation
complied with the aforementioned  minimum servicing  standards as of and for the
year ended December 31, 2004 is fairly stated, in all material respects.


By:  /s/ KPMG LLP
------------------------------------
Los Angeles, California

February 28, 2005



OPTION ONE MORTGAGE

                             Management's Assertion


     As of and for the  year  ended  December  31,  2004,  Option  One  Mortgage
Corporation  complied  in all  material  respects  with  the  minimum  servicing
standards set forth in the Mortgage  Bankers  Association  of America's  Uniform
Single Attestation Program for Mortgage Bankers. As of and for this same period,
Option One  Mortgage  Corporation  had in effect a fidelity  bond and errors and
omissions policy in the amounts of $30,000,000 and $10,000,000, respectively.

/s/ Robert E. Dubrish
----------------------------------------------
Robert E. Dubrish, Chief Executive Officer


/s/ William L. O'Neill
-----------------------------------------------
William L. O'Neill, Chief Financial Officer


/s/ Matthew A. Engel
-----------------------------------------------
Matthew A. Engel, Controller


/s/ John A. Vella
-----------------------------------------------
John A. Vella, Chief Servicing Officer


                                      -11-
<PAGE>

                                  EXHIBIT 99.2
                   Annual Servicer's Statement as to Compliance


Wilshire Credit Corporation
Payments
P.O. Box 30040, Los Angeles, CA 90030-0040
or P.O. Box 650314, Dallas, TX  75265-0314
Correspondence
P.O. Box 8517, Portland, OR  97207-8517
Phone
(503) 952-7947
(888) 502-0100
Fax
(503) 952-7476
Web Site
www.wfsg.com


March 15, 2005

DLJ Mortgage Capital, Inc.
Eleven Madison Avenue, 4th Floor
New York, NY  10010
Attn: Bruce Kaiserman

                    Annual Servicing Officer's Certification

I,  Heidi  Peterson,  certify  to the  Owner  and its  officers,  directors  and
affiliates,  and with the  knowledge  and  intent  that they will rely upon this
certification, that:

I am responsible  for reviewing the  activities  performed by the Servicer under
the Agreement as per Exhibit A attached hereto,  and based upon my knowledge and
the review  required under the Agreement,  and except as disclosed in writing to
you on or prior to the date of this  certification  either  in the  accountants'
report required under the related  Agreement or in disclosure a copy of which is
attached  hereto,  the Servicer has, for the period  covered by the related Form
10-K Annual Report, fulfilled its obligations under each Agreement.

                             WILSHIRE CREDIT CORPORATION

                             By:  /s/ Heidi Peterson
                             --------------------------------------
                             Name:   Heidi Peterson
                             Title:  Vice President, Investor Relations

                                      -12-
<page>

Exhibit A

(Wilshire  Pool 299, HEMT 2004-1)  Pooling and Servicing  Agreement  dated as of
February 1, 2004, between Credit Suisse First Boston Mortgage  Securities Corp.,
Depositor,  DLJ  Mortgage  Capital,  Inc.,  Seller,  Ocwen  Federal  Bank,  FSB,
Servicer,  Wilshire Credit  Corporation,  Servicer and Back-up Servicer,  and JP
Morgan Chase Bank, Trustee, for HEMT Trust Series 2004-1

(Wilshire  Pool 322, HEMT 2004-2)  Pooling and Servicing  Agreement  dated as of
April 1, 2004,  between Credit Suisse First Boston  Mortgage  Securities  Corp.,
Depositor,  DLJ Mortgage Capital,  Inc.,  Seller,  Wilshire Credit  Corporation,
Servicer, and JP Morgan Chase Bank, Trustee, for HEMT Trust Series 2004-2

(Wilshire  Pool 335, HEMT 2004-3)  Pooling and Servicing  Agreement  dated as of
June 1, 2004,  between  Credit Suisse First Boston  Mortgage  Securities  Corp.,
Depositor,  DLJ Mortgage Capital,  Inc.,  Seller,  Wilshire Credit  Corporation,
Servicer,  Option One Mortgage Corporation,  Servicer, and JP Morgan Chase Bank,
Trustee, for HEMT Trust Series 2004-3

(Wilshire Pool 342, FFMLT 2004-FFB) Pooling and Servicing  Agreement dated as of
July 1, 2004,  between  Credit Suisse First Boston  Mortgage  Securities  Corp.,
Depositor,  DLJ Mortgage Capital,  Inc.,  Seller,  Wilshire Credit  Corporation,
Servicer, and JP Morgan Chase Bank, Trustee, for FFMLT 2004-FFB

(Wilshire  Pool 351, HEMT 2004-4)  Pooling and Servicing  Agreement  dated as of
August 1, 2004,  between Credit Suisse First Boston Mortgage  Securities  Corp.,
Depositor,  DLJ Mortgage Capital,  Inc.,  Seller,  Wilshire Credit  Corporation,
Servicer, and JP Morgan Chase Bank, Trustee, for HEMT Trust Series 2004-4

(Wilshire  Pool 361, HEMT 2004-5)  Pooling and Servicing  Agreement  dated as of
October 1, 2004,  between Credit Suisse First Boston Mortgage  Securities Corp.,
Depositor,  DLJ Mortgage Capital,  Inc.,  Seller,  Wilshire Credit  Corporation,
Servicer, and JP Morgan Chase Bank, Trustee, for HEMT Trust Series 2004-5

(Wilshire  Pool 370, HEMT 2004-6)  Pooling and Servicing  Agreement  dated as of
December 1, 2004, between Credit Suisse First Boston Mortgage  Securities Corp.,
Depositor,  DLJ Mortgage Capital,  Inc.,  Seller,  Wilshire Credit  Corporation,
Servicer, and JP Morgan Chase Bank, Trustee, for HEMT Trust Series 2004-6



                                      -13-

<page>


                             OFFICER'S CERTIFICATE

                        ANNUAL STATEMENT OF THE SERVICER

     I,  William  L.  O'Neill,  a duly  appointed  Senior  Vice  President/Chief
Financial  Officer of Option One  Mortgage  Corporation,  the  Servicer,  hereby
certify that (i) a review of the activities of the Servicer  during the calendar
year ended December 31, 2004 and of performance  under the Servicing  Agreement,
as defined in the cover letter, has been made udner the supervision, and (ii) to
the best of my knowledge,  based on such review,  the Servicer has fulfilled all
of its obligations under the Servicing Agreement during such year.

By:  William L. O'Neill
     -------------------------
Name:  William L. O'Neill
Title: Senior Vice President/Chief Financial Officer
Date:  February 28, 2005


                                      -14-