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PricewaterhouseCoopers, LLP
125 High Street
Boston, MA 02110-1707
Telephone (617) 530-5000
Facsimile (617) 530-5001
www.pwc.com

Report of Independent Auditors

To the Board of Directors and Shareholder
Of GMAC Mortgage Corporation:

We have examined management's assertion, about GMAC Mortgage Corporation
and its subsidiaries' (the "Company") compliance with the minimum servicing
standards ("standards"), identified in the Mortgage Bankers Association of
America's Uniform Single Attestation Program for Mortgage Bankers (USAP),
as of and for the year ended December 31, 2004 included in the accompanying
management assertion (Exhibit I).  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 entity's compliance based on our examination.

Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, including
examining, on a test basis, evidence about the Company's compliance with the
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 of the Company's compliance with the standards.

Our examination identified certain instances of non compliance with USAP as
it relates to Section I Custodial Bank Accounts.  Specifically, there were
bank accounts over the course of several months where the Company was not in
full compliance with USAP requirements as it related to the preparation of
custodial bank reconciliations with in 45 calendar days of cutoff as well as
the resolution of reconciling items with in 90 calendar days of original
identification.  The Company remediated the issues related to the preparation
of custodial bank accounts reconciliations with in 45 calendar days as of
December 31, 2004.  These instances of non compliance as well as management's
remediation status are more fully described in management's assertion which is
set forth in Exhibit 1.

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In our opinion, management's assertion that the Company complied with the
aforementioned standards except for the instances of non compliance related
to Section I - Custodial Bank Accounts, as of and for the year ended
December 31, 2004 is fairly stated, in all material respects.

/s/: PricewaterhouseCoopers LLP

March 18, 2005

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GMAC Mortgage logo here

Exhibit I

Management's Assertion Concerning Compliance
with USAP Minimum Servicing Standards

March 18, 2005

As of and for the year ended December 31, 2004, GMAC Mortgage Corporation
and its subsidiaries (the "Company") have complied in all material respects
with the minimum servicing standards (the "Standards") set forth in the
Mortgage Bankers Association of America's Uniform Single Attestation Program
for Mortgage Bankers (USAP) except as follows: Section I - Custodial Bank
Accounts requires that reconciliations be prepared on a monthly basis for
all custodial bank accounts and related bank clearing accounts.  These
reconciliations shall be prepared within forty-five (45) calendar days after
the cutoff date and reconciling items resolved within ninety (90) calendar
days of their original identification.

Subsequent to the Company's servicing platform conversion that took place in
January of 2004, and as a result of temporary reporting challenges resulting
from its conversation, there were bank accounts over the course of several
months where the Company was not in full compliance with USAP requirements as
it related to the preparation of custodial bank reconciliations within 45
calendar days of cutoff as well as the resolution of reconciling items within
90 calendar days of original identification.

The Company remediated the issues related to the preparation of custodial bank
accounts reconciliations within 45 calendar days as of December 31, 2004.  The
Company has subsequently, in 2005, remediated the resolution of reconciling
items within 90 calendar days of original identification.

As of and for the same period, the Company had in effect fidelity bond and
errors and omissions policies in the amounts of $300,000,000 and $100,000,000,
respectively.


GMAC Mortgage
Finance Department
4 Walnut Grove Drive
Horsham, PA 19044

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/s/: David Applegate
     David Applegate
     Chief Executive Officer
     GMAC Residential Holding Corp

/s/: Ralph Hall
     Ralph Hall
     Chief Operating Officer
     GMAC Residential Holding Corp

/s/: Tony Renzi
     Tony Renzi
     Executive Vice President
     National Servicing Administration
     GMAC Residential Holding Corp

/s/: Jim Hillsman
     Jim Hillsman
     Chief Financial Officer
     GMAC Residential Holding Corp