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



                                          FORM 10-K


  (Mark one)

  /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

      OR



  / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934


      Commission File Number:  333-113636-08


        Bear Stearns Asset Backed Securities I Trust
        Asset Backed Certificates
        Series 2004-AC4

     (Exact name of registrant as specified in its charter)


   New York                                         54-2157795
  (State or other jurisdiction of                   54-2157796
  incorporation or organization)                    54-6636452
                                                    (I.R.S. Employer
                                                    Identification No.)


   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


  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 ( 229.405 of this chapter) 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.

        Not applicable.


  Indicate by check mark whether the registrant is an accelerated filer
  (as defined in Exchange Act Rule 12b-2).

        Yes  ___     No  X


  State the aggregate market value of the voting and non-voting common
  equity held by non-affiliates computed by reference to the price at which
  the common equity was last sold, or the average bid and asked price of
  such common equity, as of the last business day of the registrant's most
  recently completed second fiscal quarter.

        Not applicable.


  Indicate the number of shares outstanding of each of the registrant's
  classes of common stock, as of the latest practicable date.

        Not applicable.


     Documents Incorporated by Reference

  List hereunder the following documents if incorporated by reference and
  the Part of the Form 10-K (e.g. Part I, Part II, etc.) into which the
  document is incorporated: (1)Any annual report to security holders; (2)
  Any proxy or information statement; and (3)Any prospectus filed pursuant
  to Rule 424(b) or (c) under the Securities Act of 1933. The listed
  documents should be clearly described for identification purposes (e.g.
  annual report to security holders for fiscal year ended December 24, 1980).

        Not applicable.


                                   PART I

  Item 1.  Business.

            Omitted.

  Item 2.  Properties.

            See Item 15(a), Exhibits 99.1, 99.2, and 99.3, for information
            provided in lieu of information required by Item 102 of
            Regulation S-K.


  Item 3.  Legal Proceedings.

            The registrant knows of no material pending legal proceedings
            involving the trust created under the Pooling and Servicing
            Agreement (the Trust), the Trustee, the Servicer or the
            registrant with respect to the Trust other than routine
            litigation incidental to the duties of the respective parties.


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

            None.


                                PART II

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

            No established public trading market for the Certificates exists.

            Records provided to the Trust by the DTC and the Trustee
            indicate that as of December 31, 2004, the total number of holders
            of record for the Series of Certificates is 17.


  Item 6.  Selected Financial Data.

            Omitted.


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

            Omitted.


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

            Not applicable.


  Item 8.  Financial Statements and Supplementary Data.

            See Item 15(a), Exhibits 99.1, 99.2, 99.3, for information
            provided in lieu of information required by Item 302 of
            Regulation S-K.


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

            None.


  Item 9A. Controls and Procedures.

            Not applicable.


  Item 9B. Other Information.

            None.


                                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.

            Not applicable.


  Item 14. Principal Accounting Fees and Services.

            Not applicable.


                                PART IV

  Item 15. Exhibits, Financial Statement Schedules.

   (a) Exhibits

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

     (99.1) Annual Independent Accountants' Servicing Reports concerning
            servicing activities.

      <TABLE>

      
         <c>
      a) Cendant Mortgage Corp, as Servicer <F1>
      b) EMC Mortgage Corp, as Servicer <F1>
      c) HomeQ Servicing Corporation, as Servicer <F1>
      d) HSBC Bank, USA, as Servicer <F1>
      e) National City Mortgage Co, as Servicer <F1>
      f) Wachovia Mortgage Corp as Servicer f/k/a Southtrust Mortgage Corp <F1>
      g) Waterfield Mortgage Corp., as Sub-Servicer for Union Fed Bank of Indianapolis <F1>

      </TABLE>

     (99.2) Report of Management as to Compliance with Minimum Servicing
            Standards.

      <TABLE>

      
        <c>
      a) Cendant Mortgage Corp, as Servicer <F1>
      b) EMC Mortgage Corp, as Servicer <F1>
      c) HomeQ Servicing Corporation, as Servicer <F1>
      d) HSBC Bank, USA, as Servicer <F1>
      e) National City Mortgage Co, as Servicer <F1>
      f) Wachovia Mortgage Corp as Servicer f/k/a Southtrust Mortgage Corp <F1>
      g) Waterfield Mortgage Corp., as Sub-Servicer for Union Fed Bank of Indianapolis <F1>

      </TABLE>

     (99.3) Annual Statements of Compliance under the Pooling and Servicing
            Agreements.

      <TABLE>

      
         <c>
      a) Cendant Mortgage Corp, as Servicer <F1>
      b) EMC Mortgage Corp, as Servicer <F1>
      c) HomeQ Servicing Corporation, as Servicer <F1>
      d) HSBC Bank, USA, as Servicer <F1>
      e) National City Mortgage Co, as Servicer <F1>
      f) Wachovia Mortgage Corp as Servicer f/k/a Southtrust Mortgage Corp <F1>
      g) Union Fed Bank of Indianapolis, as Servicer <F1>

      </TABLE>


     (99.4) Aggregate Statement of Principal and Interest Distributions to
            Certificate Holders.


   (b) Not applicable.

   (c) Omitted.


  <F1> Filed herewith.


                                SIGNATURES

  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:



    Bear Stearns Asset Backed Securities I Trust
    Asset Backed Certificates
    Series 2004-AC4
    (Registrant)


  Signed: Wells Fargo Bank, N.A. as Master Servicer

  By:     Dawn Hammond, Vice President

  By: /s/ Dawn Hammond, Vice President

  Dated:  March 30, 2005


  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.


  (a)(i) No annual report is provided to the Certificateholders other than
  with respect to aggregate principal and interest distributions.


  (a)(ii) No proxy statement, form of proxy or other proxy soliciting
  material has been sent to any Certificateholder with respect to any
  annual or other meeting of Certificateholders.



  Exhibit Index

  Exhibit No.

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

  I, Dawn Hammond, 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 Bear Stearns Asset Backed Securities I Trust Asset Backed
     Certificates, Series 2004-AC4 Trust;

  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. I am responsible for reviewing the activities performed by the master
     servicer under the pooling and servicing, or similar, agreement, and
     based on upon my knowledge and the annual compliance review required
     under that agreement, and except as disclosed in the reports, the
     master servicer has fulfilled its obligations under that 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:
     Cendant Mortgage Corp as Servicer, EMC Mortgage Corp as Servicer,
     HomeQ Servicing Corporation as Servicer, HSBC Bank, USA as Servicer,
     National City Mortgage Co as Servicer, Southtrust Mortgage Corp as
     Servicer, Union Fed Bank of Indianapolis as Named Servicer,
     Waterfield Mortgage Corp. as Sub-Servicer.

     Date:  March 30, 2005

     /s/ Dawn Hammond
     Signature

     Vice President
     Title


  EX-99.1 (a)
(logo) Deloitte

Deloitte & Touche LLP
750 College Road East
Third Floor
Princeton, NJ 08540
USA

Tel: +1 609 514 3600
www.deloitte.com



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To Cendant Mortgage Corporation:


We have examined Cendant Mortgage Corporation's (the "Company") compliance with
its established minimum servicing standards described in the accompanying
Management's Assertion, dated February 28, 2005, as of and for the year ended
December 31, 2004. Management is responsible for compliance with those minimum
servicing standards. Our responsibility is to express an opinion on 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 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
standards.

Our examination disclosed the following instance of material noncompliance with
the reconciliation of custodial bank accounts applicable to the Company during
the year ended December 31, 2004. The Company did not comply with the
requirement to prepare custodial bank account reconciliations within 45
calendar days after the cutoff date and the requirement to resolve reconciling
items within 90 calendar days of their original identification as specified by
their minimum servicing standards.

In our opinion, except for the material noncompliance described in the
preceding paragraph, the Company complied, in all material respects, with the
aforementioned minimum servicing standards as of and for the year ended
December 31, 2004, as set forth in Appendix I.


/s/ Deloitte & Touche LLP

February 28, 2005



Member of
Deloitte Touche Tohmatsu




APPENDIX I

MINIMUM SERVICING STANDARDS 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.  Disbursement 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

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. (A compilation of state laws
    relating to the payment of interest on escrow accounts may be obtained
    through the MBA's FAX ON DEMAND service. For more information, contact MBA.)

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.





  EX-99.1 (b)
(logo) Deloitte

Deloitte & Touche LLP
Two World Financial Center
New York, NY 10281-1414
USA

Tel: +1 212 436 2000
Fax: +1 212 436 5000
www.deloitte.com



Report of Independent Registered Public Accounting Firm


To the Board of Directors and Stockholder of
EMC Mortgage Corporation


We have examined EMC Mortgage Corporation's (the "Company") (a wholly owned
subsidiary of The Bear Stearns Companies Inc.) compliance with its established
minimum servicing standards described in the accompanying Management's
Assertion dated February 24, 2005, as of and for the year ended November 30,
2004. 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 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
standards.


Our examination disclosed the following material noncompliance in regards to
resolving reconciling items within ninety (90) calendar days of their original
identification, applicable to the Company during the year ended November 30,
2004. The reconciliations in three of the twenty custodial bank accounts
selected for testing included twenty three reconciling items which were
resolved after 90 calendar days from their original identification.


In our opinion, except for the material noncompliance described in the
preceding paragraph, the Company complied, in all material respects, with the
aforementioned minimum servicing standards as of and for the year ended
November 30, 2004 based on the criteria set forth in Appendix A.



/s/ Deloitte & Touche LLP


February 24, 2005



Member of
Deloitte Touche Tohmatsu




APPENDIX A

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

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.





  EX-99.1 (c)
(logo) KPMG

KPMG LLP
Suite 2300
Three Wachovia Center
401 South Tryon Street
Charlotte, NC 28202-1911


Independent Accountants' Report


The Board of Directors
HomEq Servicing Corporation

We have examined management's assertion, included in the accompanying
Management's Assertion, that Homeq Servicing Corporation (the Company) 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 the year ended December 31, 2004. 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 and,
accordingly, included examining, on a test basis, evidence about the Company's
compliance with the minimum servicing standards specified above 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 the minimum servicing standards.

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.

/s/ KPMG LLP


February 25, 2005





KPMG LLP a U.S. limited liability partnership in the U.S.
member firm KPMG international a Swiss cooperative





  EX-99.1 (d)
(logo) KPMG

KPMG LLP
Suite 601
12 Fountain Plaza
Buffalo, NY 14202

Independent Accountants' Report

The Board of Directors
HSBC Mortgage Corporation (USA):

We have examined management's assertion, included in the accompanying Management
Assertion, that HSBC Mortgage Corporation (USA) complied with the minimum
servicing standards set forth 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. Management is responsible for HSBC Mortgage
Corporation (USA)'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 and,
accordingly, included examining, on a test basis, evidence about HSBC Mortgage
Corporation (USA)'s compliance with the minimum servicing standards specified
above 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 HSBC
Mortgage Corporation (USA)'s compliance with the minimum servicing standards.

In our opinion, management's assertion that HSBC Mortgage Corporation (USA)
complied with the aforementioned minimum servicing standards during the year
ended December 31, 2004 is fairly stated, in all material respects.

/s/ KPMG, LLP

February 25, 2005


KPMG LLP, a U.S. limited liability partnership, is the US member firm of KPMG
International, a Swiss cooperative.





  EX-99.1 (e)
(logo) ERNST & YOUNG

Ernst & Young LLP
1300 Huntington Building
925 Euclid Avenue
Cleveland, Ohio 44115

Phone: (216) 861-5000
www.ey.com

Report on Management's Assertion on Compliance
with the Specified Minimum Servicing Standards Set Forth in the
Uniform Single Attestation Program for Mortgage Bankers

Report of Independent Accountants

Board of Directors
National City Mortgage Co.

We have examined management's assertion, included in the accompanying report
titled Report of Management, that National City Mortgage Co. (NCM) complied with
the minimum servicing standards identified in Exhibit A to the Report of
Management (the specific minimum servicing standards) as set forth in the
Mortgage Bankers Association of America's Uniform Single Attestation Program for
Mortgage Bankers (USAP) during the year-ended December 31, 2004. Management is
responsible for NCM's compliance with the specified minimum servicing standards.
Our responsibility is to express an opinion on management's assertions about
NCM's compliance based on our examination.

Our examination was made in accordance with attestation standards established by
the American Institute of Certified Public Accountants and, accordingly,
included examining, on a test basis, evidence about NCM's compliance with the
specified 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 NCM's compliance with specified minimum servicing
standards.

In our opinion, management's assertion that NCM complied with the aforementioned
specified minimum servicing standards during the year ended December 31, 2004,
is fairly stated, in all material respects.


/s/ Ernst & Young LLP


March 11, 2005



A Member Practice of Ernst & Young Global





  EX-99.1 (f)
 (logo) KPMG

 KPMG LLP Suite 2300
 Three Wachovia Center
 401 South Tryon Street
 Charlotte, NC 28202-1911



Independent Accountants' Report


The Board of Directors
Wachovia Mortgage Corporation


We have examined management's assertion, included in the accompanying Management
Assertion, that Wachovia Mortgage Corporation (a subsidiary of Wachovia
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 Wachovia Mortgage Corporation's compliance with those minimum
servicing standards. Our responsibility is to express an opinion on management's
assertion about Wachovia Mortgage Corporation's compliance based on our
examination.

Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants and,
accordingly, included examining, on a test basis, evidence about Wachovia
Mortgage Corporation's compliance with the minimum servicing standards specified
above 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 Wachovia
Mortgage Corporation's compliance with the minimum servicing standards.

In our opinion, management's assertion that Wachovia Mortgage Corporation
complied with the aforementioned minimum servicing standards during the year
ended December 31, 2004 is fairly stated, in all material respects.



/s/  KPMG LLP


March 11, 2005



KPMG LLP, a U.S. limited liability partnership, is the U.S.
member firm of KPMG International, a Swiss cooperative.





  EX-99.1 (g)
(logo) ERNST & YOUNG

Ernst & Young LLP
111 Monument Circle, Suite 2600
P.O. Box 44972
Indianapolis, Indiana 46204-2094

Phone: (317) 681-7000
Fax:   (317) 681-7216
www.ey.com


Report on Management's Assertion on Compliance
with the Specified Minimum Servicing Standards Set Forth in the
Uniform Single Attestation Program for Mortgage Bankers


Report of Independent Accountants

The Board of Directors
Waterfield Mortgage Company, Incorporated


We have examined management's assertion, included in the accompanying report
titled Report of Management, that Waterfield Mortgage Company, Incorporated and
Subsidiaries (the Company) complied with the servicing standards identified in
Exhibit A to the Report of Management (the "specified minimum servicing
standards") as set forth in the Mortgage Bankers Association of America's
Uniform Single Attestation Program for Mortgage Bankers (USAP) during the year
ended December 31, 2004, except for the minimum standards for custodial bank
accounts. During 2004, custodial bank accounts were not always reconciled within
45 days and reconciling items were not always cleared in 90 days. Management is
responsible for the Company's compliance with those specified minimum servicing
standards. Our responsibility is to express an opinion on management's
assertions about the Company's compliance based on our examination.

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

In our opinion, management's assertion, that the Company complied with the
aforementioned specified minimum servicing standards during the year ended
December 31, 2004, is fairly stated, in all material respects, except for the
minimum standards for custodial bank accounts.



/s/ Ernst & Young LLP

February 24, 2005





  EX-99.2 (a)
Cendant Mortgage
3000 Leadenhall Road
Mt. Laurel, NJ 08054

(logo) CENDANT
       Mortgage

February 28, 2005



As of and for the year ended December 31, 2004, Cendant Mortgage Corporation
(the "Company") has 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, except for as discussed below.

During the year ended December 31, 2004, the Company determined it was
materially non-compliant with the requirement to prepare custodial bank account
reconciliations within 45 calendar days after the cutoff date and the
requirement to identify and resolve reconciling items within 90 calendar days
as specified by the minimum servicing standards.

The Company has undertaken remediation activities to address this material
instance of non-compliance as of December 31, 2004.

As of and for this same period, the Company had in effect a fidelity bond and
errors and omissions policy in the amount of $160 million and $20 million,
respectively.



Cendant Mortgage Corporation

/s/ Terence Edwards
Terence W. Edwards
President and Chief Executive Officer


/s/ Mark Danahy
Mark Danahy
Senior Vice President and Chief Financial Officer


/s/ Martin L. Foster
Martin L. Foster
Senior Vice President - Loan Servicing





  EX-99.2 (b)
(logo) EMC
Mortgage Corporation


February 24, 2005


MANAGEMENT'S ASSERTION


As of and for the year ended November 30, 2004, EMC Mortgage Corporation (the
"Company") (a wholly owned subsidiary of The Bear Stearns Companies, Inc.),
has complied, in all material respects, with the Company's established
minimum servicing standards, except as discussed below, for residential
mortgage loans as set forth in Appendix A (the "Standards"). The Standards
are based on the Mortgage Bankers Association of America's Uniform Single
Attestation Program for Mortgage Bankers.

During the year ended November 30, 2004, the Company determined it was
materially noncompliant with regards to resolving reconciling items within
ninety (90) calendar days of their original identification as specified by
its established minimum servicing standards. Twenty three reconciling items
in three of the twenty custodial bank account reconciliations selected for
testing during the accountants' examination were resolved after 90 calendar
days from their original identification.

As of and for this same period, the Company had in effect a fidelity bond in
the amount of $100,000,000 and $210,000,000 for the periods from December 1,
2003 to September 29, 2004 and from September 30, 2004 to November 30, 2004,
respectively, and an errors and omissions policy in the amount of $15,000,000
and $20,000,000 for the periods from December 1, 2003 to January 31, 2004 and
from February 1, 2004 to November 30, 2004, respectively.


/s/ Ralene Ruyle
Ralene Ruyle, President


/s/ Norton Wells
F. Norton Wells, Executive Vice President


/s/ Judith L. Leto
Judith L. Leto, CFO and Senior Vice President




Two MacArthur Ridge, 909 Hidden Ridge Drive, Suite 200, Irving, Texas 75038
Mailing Address: P.O. Box 141358 Irving, Texas 75014-1358

(logo) Mortgage Bankers Association
investing in communities
MEMBER 2004



APPENDIX A

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

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.





  EX-99.2 (c)
(logo) HOMEQ SERVICING


MANAGEMENT'S ASSERTION


As of and for the year ended December 31, 2004, HomEq Servicing Corporation
(the "Company") 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, the Company had in effect a fidelity bond and errors and omissions
policy in the amounts of $200 million and $20 million, respectively.


HomEq Servicing Corporation


/s/ Arthur Q. Lyon
Arthur Q. Lyon
President

February 25, 2005
Date


/s/ Keith G. Becher
Keith G. Becher Date
Chief Operating Officer

February 25, 2005
Date



(logo)Wachovia





  EX-99.2 (d)
(logo) HSBC



Management Assertion


As of and for the year ended December 31, 2004, HSBC Mortgage Corporation (USA)
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, HSBC Mortgage
Corporation (USA) had in effect fidelity bond and errors and omissions policies
in the amount of $683,476,500 and $88,000,000 respectively.



/s/ Joseph F. Prasnjak
Joseph F. Prasnjak
SVP, Mortgage Finance


/s/ Lawrence A. Schiavi
Lawrence A. Schiavi
SVP, Executive Management Committee

/s/ Michael T. Stilb
Michael T. Stilb
SVP, Mortgage Servicing


HSBC Mortgage Corporation (USA)
2929 Walden Avenue, Depew, NY 14043


(logo) EQUAL HOUSING LENDER





  EX-99.2 (e)
(logo) National City Mortgage

National City Mortgage Co.
A Subsidiary of National City Bank of Indiana
3232 Newmark Drive * Miamisburg, Ohio 45342
Telephone: (937) 910-1200

Mailing Address:
P.O. Box 1820
Dayton, Ohio 45401-1820



Management's Assertion on Compliance with Minimum Servicing
Standards Set Forth in the Uniform Single Attestation Program for
Mortgage Bankers

Report of Management

We, as members of management of National City Mortgage Co. (NCM), are
responsible for complying with the minimum servicing standards as set forth in
the Mortgage Bankers Association of America's Uniform Single Attestation Program
for Mortgage Bankers (USAP). We are also responsible for establishing and
maintaining effective internal control over compliance with these standards. We
have performed an evaluation of NCM's compliance with the minimum servicing
standards as set forth in the USAP as of December 31, 2004 and for the year then
ended. Based on this evaluation, we assert that during the year ended December
31, 2004, NCM complied, in all material respects, with the minimum servicing
standards set forth in the USAP.

As of and for this same period, NCM had in effect a fidelity bond policy in
the amount of $200 million and an errors and omissions policy in the amount
of $250 million.



/s/ T. Jackson Case, Jr
T. Jackson Case, Jr., Executive Vice President


March 4, 2005



No one Cares More !





  EX-99.2 (f)
Wachovia Mortgage Corporation
Corporate Mortgage Services Division
NC1045
401 South Tryon Street, 22nd Floor
Charlotte, NC 28288

Tel 800 691-4912


(logo) WACHOVIA

MANAGEMENT ASSERTION


As of and for the year ended December 31, 2004, Wachovia 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 the same period, Wachovia Mortgage
Corporation had in effect a fidelity bond and errors and omissions policy in the
amount of $200 million and $20 million, respectively.


/s/ C.D. Davies
C.D. Davies, President/
Chief Executive Officer

March 11, 2005
Date


/s/ Debbie Craig
Debbie Craig, Senior Vice President /
Chief Financial Officer

March 11, 2005
Date


/s/ Tim Schuck
Tim Schuck, Vice President/
Director of Servicing

March 11, 2005
Date





  EX-99.2 (g)
(logo) WATERFIELD
WATERFIELD
Mortgage Company

A Waterfield Group Company



Management's Assertion on Compliance with the Specified Minimum
Servicing Standards Set Forth in the Uniform Single Attestation
Program for Mortgage Bankers



Report of Management

We, as members of management of Waterfield Mortgage Company, Incorporated and
Subsidiaries (the Company), are responsible for complying with the servicing
standards identified in the attached Exhibit A (the "specified minimum servicing
standards") as set forth in the Mortgage Bankers Association of America's
Uniform Single Attestation Program for Mortgage Bankers (USAP). We are also
responsible for establishing and maintaining effective internal control over
compliance with these specified minimum servicing standards. We have performed
an evaluation of the Company's compliance with the specified minimum servicing
standards as of December 31, 2004 and for the year then ended. Based on this
evaluation, we assert that during the year ended December 31, 2004, the Company
complied, in all material respects, with the specified minimum servicing
standards, except for the minimum standards for custodial bank accounts. During
2004, custodial bank accounts were not always reconciled within 45 days and
reconciling items were not always cleared in 90 days.

From January 1, 2004 to December 31, 2004, the Bank had in effect a fidelity
bond in the amount of $20,000,000. From January 1, 2004 to December 31, 2004 the
Bank had in effect a mortgage errors and omissions policy in the amount of
$20,000,000.



/s/ Donald A. Sherman
Donald A. Sherman
Chairman of the Board & CEO



/s/ Vincent J. Otto
Vincent J. Otto
Executive Vice President  & CFO


February 24, 2005

7500 WEST JEFFERSON BLVD. * P.O. BOX 1289 * FORT WAYNE, INDIANA 46801 *
260-434-8411 * www.waterfield.com
WATERFIELD FINANCIAL CORPORATION * WATERFIELD MORTGAGE COMPANY * WATERFIELD
INSURANCE AGENCY * UNION FEDERAL BANK * UNION INVESTMENT SERVICES, INC.
EQUAL OPPORTUNITY EMPLOYER * EQUAL HOUSING LENDER


Exhibit A

Specified Minimum Servicing Standards

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:

a. be mathematically accurate;

b. be prepared within forty-five (45) calendar days after the cutoff date. The
cutoff date is the date as of which a bank account is reconciled every month. It
may, or may not, coincide with a prescribed investor reporting date but shall be
consistent from period to period;

c. be reviewed and approved by someone other than the person who prepared the
reconciliation; and

d. 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 (2) 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 (2) 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 (2) 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. Unissued 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 adjustable rate mortgage (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.


V. Mortgagor Loan Accounting (continued)

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 undated 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 (i.e., 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.





  EX-99.3 (a)
PHH Mortgage Services

(logo) PHH


Wells Fargo Bank. N.A.
9062 Old Annapolis Rd.
Columbia, MD 21054
Attention: Kim


RE: Annual Statement as to Compliance

Investor number(s)/Deal name(s): as listed on the attached Schedule A

Dear Investor, Master Servicer or Trustee,

The undersigned officer certifies the following for PHH Mortgage Corp. f/k/a
Cendant Mortgage Corp. for the 2004 calendar year. To the best of our knowledge:


a) The activities and performance of the Servicer during the preceding Fiscal
   year under the terms of the above Servicing Agreement, Trust Agreement,
   Pooling and Servicing Agreement and/or Servicer Guide and to the best of my
   knowledge the Servicer has fulfilled all of its duties, responsibilities or
   obligations under this Agreement throughout such year, or if there has been
   default or failure of the Servicer to perform any such duties,
   responsibilities or obligations, a description of each default or failure
   and the nature and status thereof has been reported to Wells Fargo Bank;
b) The Servicer is currently an approved FNMA or FHLMC Servicer in good
   standing:
c) The Fidelity Bond, the Errors and Omissions Insurance Policy and any other
   bonds required under the terms of the Servicing Agreement, Trust Agreement,
   Pooling and Servicing Agreement and/or Servicer Guide are in full force and
   effect;
d) All premiums for each Hazard Insurance Policy, Flood Insurance Policy
   (if applicable) and Primary Mortgage Insurance Policy (if applicable), with
   respect to each Mortgaged Property, have been paid and that such insurance
   policies are in full force and effect;
e) All real estate taxes, governmental assessments and any other expenses
   accrued and due, that if not paid could result in a lien or encumbrance on
   any Mortgage Property, have been paid, or if any such costs or expenses have
   been paid with respect to any Mortgaged Property, the reason for the
   non-payment has been reported to Wells Fargo Bank;
f) All Custodial Accounts have been reconciled and are properly funded; and
g) All annual reports of Foreclosure and Abandonment of Mortgaged Property
   required per section 6050H, 6050J and 6050P of the Internal Revenue Code,
   respectively, have been prepared and filed.


Certified by

/s/ William E. Fricke, Jr.
William E. Fricke, Jr.
Assistant Vice President

3/15/05
Date:




PHH Mortgage Services

(logo) PHH

SCHEDULE A

BAY     2004-C          MARM    2004-3          THB     2004-1
BAY     2004-D          MARM    2004-4          THB     2004-2
BSA     2003-AC7        MARM    2004-5          WFMBS   2004-1
BSA     2004-AC1        MASTR   2003-10
BSA     2004-AC2        MASTR   2003-11
BSA     2004-AC4        MASTR   2003-12
BSA     2004-AC5        MASTR   2003-7
BSA     2004-AC6        MASTR   2003-8
BSL     2003-7          MASTR   2003-9
BSL     2004-12         MASTR   2004-1
BSL     2004-3          MASTR   2004-10
BSL     2004-4          MASTR   2004-11
BSL     2004-6          MASTR   2004-3
BST     2003-9          MASTR   2004-4
BST     2004-1          MASTR   2004-5
BST     2004-10         MASTR   2004-6
BST     2004-12         MASTR   2004-8
CSF     2004-1          MASTR   2004-9
CSF     2004-AR1        MLC     2004-1
CSF     2004-AR2        MLC     2004-A
HBV     2004-10         MLC     2004-B
JPMMT   2004-Al         MLC     2004-C
JPMMT   2004-A2         MLC     2004-D
JPMMT   2004-A3         MLC     2004-E
JPMMT   2004-A4         MLC     2004-F
JPMMT   2004-A5         MLC     2004-G
JPMMT   2004-A6         MLC     2004-HB1
JPMMT   2004-S2         MLM     2004-A01
MAL     2004-1          MSML    2004-10AR
MAL     2004-10         MSML    2004-11A
MAL     2004-11         MSML    2004-2AR
MAL     2004-12         MSML    2004-3
MAL     2004-13         MSML    2004-4
MAL     2004-3          MSML    2004-5AR
MAL     2004-4          MSML    2004-6AR
MAL     2004-5          MSML    2004-7AR
MAL     2004-6          MSML    2004-8AR
MAL     2004-7          MSML    2004-9
MAL     2004-8          MSSTA   2004-1
MAL     2004-9          PAM     2004-CL1
MARM    2004-1          PRM     2004-CL2
MARM    2004-10         SAIL    2004-7
MARM    2004-11         SAM     2004-AR1
MARM    2004-15         THB     2003-2
MARM    2004-2          THB     2003-5





  EX-99.3 (b)
(logo) EMC
Mortgage corporation
Proven Performance


Wells Fargo Bank Minnesota, N.A.
9062 Old Annapolis Rd.
Columbia, MD 21045
Attention: Master Servicing


RE: Officer's Certificate


Dear Master Servicer:

The undersigned Officer certifies the following for the 2004 fiscal year:

(A)   I have reviewed the activities and performance of the Servicer during
      the preceding fiscal year under the terms of the Servicing Agreement,
      Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer
      Guide and to the best of these Officers' knowledge, the Servicer has
      fulfilled all of its duties, responsibilities or obligations under these
      Agreements throughout such year, or, if there has been a default or
      failure of the servicer to perform any of such duties, responsibilities
      or obligations, a description of each default or failure and the nature
      and status thereof has been reported to Wells Fargo Bank Minnesota, N.A;

(B)   I have confirmed that the Servicer is currently an approved FNMA of
      FHLMC servicer in good standing;

(C)   I have confirmed that the Fidelity Bond, the Errors and Omissions
      Insurance Policy and any other bonds required under the terms of the
      Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement
      and/or Seller/Servicer Guide are in full force and effect;

(D)   All premiums for each Hazard Insurance Policy, Flood Insurance Policy
      (if applicable) and Primary Mortgage Insurance Policy (if applicable),
      with respect to each Mortgaged Property, have been paid and that all such
      insurance policies are in full force and effect;

(E)   All real estate taxes, governmental assessments and any other expenses
      accrued and due, that if not paid could result in a lien or encumbrance
      on any Mortgaged Property, have been paid, or if any such costs or
      expenses have not been paid with respect to any Mortgaged Property, the
      reason for the non-payment has been reported to Wells Fargo Bank
      Minnesota, N.A.;

(F)   All Custodial Accounts have been reconciled and are properly funded; and

(G)   All annual reports of Foreclosure and Abandonment of Mortgage Property
      required per section 6050H, 6050J and 6050P of the Internal Revenue Code,
      respectively, have been prepared and filed.


Certified by:

/s/ Sue Stepanek
Sue Stepanek
Executive Vice President

March 4, 2005
Date



Two MacArthur Ridge 909 Hidden Ridge Drive, Suite 200 Irving, Texas 75038
Mailing Address: P.O. Box 141358, Irving, Texas 75014-1358

(logo)
Member
Mortgage Bankers
Association of America





  EX-99.3 (c)
(logo) HOMEQ SERVICING


Exhibit "A"



Wells Fargo Bank Minnesota, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
Attention: Servicer Oversight Group

RE: Officer's Certificate

Dear Master Servicer:

The undersigned Officer certifies the following for the 2004 fiscal year:

A review of the activities of the Servicer during the 2004 calendar year and the
Servicer's performance under the Servicing Agreement has been made under my
supervision, the Servicer has complied with the Servicing Agreement in all
material respects and, to the best of my knowledge, based on such review, the
Servicer has materially fulfilled all of its obligations under the Servicing
Agreement throughout such calendar year.


/s/ Arthur Q. Lyon
Officer-Arthur Q. Lyon
Title - President
Date March 16, 2005







(Logo) WACHOVIA





  EX-99.3 (d)
HSBC (logo)


Exhibit "A"


Wells Fargo Bank Minnesota, N.A.
9062 Old Annapolis Rd.
Columbia, MD 21045
Attention: Master Servicing

RE: Officer's Certificate

Dear Master Servicer:

The undersigned Officer certifies the following for the 2004 fiscal year:

(A) I have reviewed the activities and performance of the Servicer during the
    preceding fiscal year under the terms of the Servicing Agreement, Trust
    Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and
    to the best of these Officers' knowledge, the Servicer has fulfilled all of
    its duties, responsibilities or obligations under these Agreements
    throughout such year, or if there has been a default or failure of the
    servicer to perform any of such duties, responsibilities or obligations, a
    description of each default or failure and the nature and status thereof
    has been reported to Wells Fargo Bank Minnesota, N.A.;

(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC
    servicer in good standing;

(C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance
    Policy and any other bonds required under the terms of the Servicing
    Agreement, Trust Agreement, Pooling and Servicing Agreement and/or
    Seller/Servicer Guide are in full force and effect;

(D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if
    applicable) and Primary Mortgage Insurance Policy (if applicable), with
    respect to each Mortgaged Property, have been paid and that all such
    insurance policies are in full force and effect;

(E) All real estate taxes, governmental assessments and any other expenses
    accrued and due, that if not paid could result in a lien or encumbrance on
    any Mortgaged Property, have been paid, or if any such costs or expenses
    have not been paid with respect to any Mortgaged Property, the reason for
    the non-payment has been reported to Wells Fargo Bank Minnesota, N.A.;

(F) All Custodial Accounts have been reconciled and are properly funded; and

(G) All annual reports of Foreclosure and Abandonment of Mortgage Property
    required per section 6050H, 6050J and 6050P of the Internal Revenue Code,
    respectively, have been prepared and filed.


Certified By:
/s/ Robin E. Hornstrom
Officer

Robin Hornstrom/Vice President
Title

2/25/2005
Date



HSBC Mortgage Corporation (USA)
2929 Walden Avenue, Depew, NY 14043

(logo) EQUAL HOUSING LENDER





  EX-99.3 (e)
(logo) National City
Mortgage

National City Mortgage Co.
A Subsidiary of National City Bank of Indiana
3232 Newmark Drive * Miamisburg, Ohio 45342
Telephone: (937) 910-1200

Mailing Address:
P.O. Box 1820
Dayton, Ohio 45401-1820



Wells Fargo Bank, N.A.
9062 Old Annapolis Rd.
Columbia, MD 21045
Attention: Master Servicing

RE: Officer's Certificate

Dear Master Servicer:


The undersigned Officer certifies the following for the 2004 fiscal year


(A) I have reviewed the activities and performance of the Servicer during the
    preceding fiscal year under the terms of the Servicing Agreement, Trust
    Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide
    and to the best of these Officers' knowledge, the Servicer has fulfilled
    all of its duties, responsibilities or obligations under these Agreements
    throughout such year, or if there has been a default or failure of the
    servicer to perform any of such duties, responsibilities or obligations,
    a description of each default or failure and the nature and status
    thereof has been reported to Wells Fargo Bank, N.A.;

(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC
    servicer in good standing;

(C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance
    Policy and any other bonds required under the terms of the Servicing
    Agreement, Trust Agreement, Pooling and Servicing Agreement and/or
    Seller/Servicer Guide are in full force and effect;

(D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy
    (if applicable) and Primary Mortgage Insurance Policy (if applicable), with
    respect to each Mortgaged Property, have been paid and that all such
    insurance policies are in full force and effect;

(E) All real estate taxes, governmental assessments and any other expenses
    accrued and due, that if not paid could result in a lien or encumbrance on
    any Mortgaged Property, have been paid, or if any such costs or expenses
    have not been paid with respect to any Mortgaged Property, the reason for
    the non-payment has been reported to Wells Fargo Bank, N.A.;

(F) All Custodial Accounts have been reconciled and are properly funded and

(G) All annual reports of Foreclosure and Abandonment of Mortgage Property
    required per section 6050H, 6050J and 6050P of the Internal Revenue Code,
    respectively, have been prepared and filed.

Certified by:
/s/ T. Jackson Case Jr.
Officer

Executive Vice President
Title

March 8, 2005
Date


No one Cares More!





  EX-99.3 (f)
SERVICER CERTIFICATION


Re: Transactions listed on Exhibit A hereto

I, William T. Fowler, a duly elected and acting officer of SouthTrust
Mortgage Corporation (the "Servicer"), certify pursuant to Section 6.04 of the
Purchase, Warranties and Servicing Agreement (the "Agreement"), dated as of
November 1, 2002, by and between EMC Mortgage Corporation, as Purchaser and
SouthTrust Mortgage Corporation, as Company as further modified by the
applicable Assignment, Assumption and Recognition Agreements related to the
transactions listed on Exhibit A hereto to Wells Fargo Bank, National
Association as Master Servicer and each Person, if any, who "controls" the
Master Servicer within the meaning of the Securities Act of 1933, as amended,
and their respective officers and directors, with respect to the calendar year
immediately preceding the date of this Certificate, as follows:

1. I have reviewed the activities of the Company during the preceding
calendar year and performance under this Agreement has been made under
my supervision; and

2. To the best of my knowledge, based on such review, the Company
has fulfilled all of its obligations under this Agreement throughout
such year, or, if there has been a default in the fulfillment of any
such obligation, specifying each such default known to me and the nature
and status thereof.



SOUTHTRUST MORTGAGE CORPORATION,
as Servicer


By: /s/ William T. Fowler
Name: William T. Fowler
Title: Vice President
Date: March 07, 2005



Exhibit A- Covered Transactions

Transaction                      Agreement
BSABS 2004-AC3          Assignment, Assumption and Recognition Agreement dated
                        as of May 28, 2004, among EMC Mortgage Corporation (the
                        "Assignor"), U.S. Bank, National Association, not
                        individually but solely as trustee for the holders of
                        Bear Stearns Asset Backed Securities I Trust 2004-AC3,
                        Asset Backed Certificates, Series 2004-AC3 and
                        SouthTrust Mortgage Corporation (the "Company")

BSABS 2004-AC4          Assignment, Assumption and Recognition Agreement dated
                        as of July 30, 2004, among the Assignor, U.S. Bank,
                        National Association, not individually but solely as
                        trustee for the holders of Bear Stearns Asset Backed
                        Securities I Trust 2004-AC4, Asset Backed Certificates,
                        Series 2004-AC4 and the Company

BSABS 2004-AC5          Assignment, Assumption and Recognition Agreement dated
                        as of September 30, 2004, among the Assignor, U.S. Bank,
                        National Association, not individually but solely as
                        trustee for the holders of Bear Stearns Asset Backed
                        Securities I Trust 2004-AC5, Asset Backed Certificates,
                        Series 2004-AC5 and the Company

BSABS 2004-AC6          Assignment, Assumption and Recognition Agreement dated
                        as of October 29, 2004, among the Assignor, U.S. Bank,
                        National Association, not individually but solely as
                        trustee for the holders of Bear Stearns Asset Backed
                        Securities I Trust 2004-AC6, Asset Backed Certificates,
                        Series 2004-AC6 and the Company

BSABS 2004-AC7          Assignment, Assumption and Recognition Agreement dated
                        as of November 30, 2004, among the Assignor, U.S. Bank,
                        National Association, not individually but solely as
                        trustee for the holders of Bear Stearns Asset Backed
                        Securities I Trust 2004-AC7, Asset Backed Certificates,
                        Series 2004-AC7 and the Company





  EX-99.3 (g)
      (logo)
      Waterfield
      Mortgage Comapny

      A Waterfield Group Company
      Exhibit "A"


      Wells Fargo Bank Minnesota, N.A.
      9062 Old Annapolis Rd.
      Columbia, MD 21045
      Attention: Master Servicing

      RE: Officer's Certificate

      Dear Master Servicer:

      The undersigned Officer certifies the following for the 2004 fiscal year:

      (A) I have reviewed the activities and performance of the Servicer during
      the preceding fiscal year under the terms of the Servicing Agreement,
      Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer
      Guide and to the best of these Officers' knowledge, the Servicer has
      fulfilled all of its duties, responsibilities or obligations under these
      Agreements throughout such year, or if there has been a default or failure
      of the servicer to perform any of such duties, responsibilities or
      obligations, a description of each default or failure and the nature and
      status thereof has been reported to Wells Fargo Bank Minnesota, N.A.;

      (B) I have confirmed that the Servicer is currently an approved FNMA or
      FHLMC servicer in good standing;

      (C) I have confirmed that the Fidelity Bond, the Errors and Omissions
      Insurance Policy and any other bonds required under the terms of the
      Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement
      and/or Seller/Servicer Guide are in full force and effect;

      (D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy
      (if applicable) and Primary Mortgage Insurance Policy (if applicable),
      with respect to each Mortgaged Property, have been paid and that all such
      insurance policies are in full force and effect;

      (E) All real estate taxes, governmental assessments and any other expenses
      accrued and due, that if not paid could result in a lien or encumbrance on
      any Mortgaged Property, have been paid, or if any such costs or expenses
      have not been paid with respect to any Mortgaged Property, the reason for
      the non-payment has been reported to Wells Fargo Bank Minnesota, N.A.;

      (F) All Custodial Accounts have been reconciled and are properly funded
      with the following exceptions: Custodial accounts were not always prepared
      within forty-five calendar days and reconciling items were not always
      resolved within ninety calendar days; and

      (G) All annual reports of Foreclosure and Abandonment of Mortgage Property
      required per section 6050H, 6050J and 6050P of the Internal Revenue Code,
      respectively, have been prepared and filed.



      Certified By
      /s/ Angela K. Thompson



     Investor Accounting Manager - AVP
     Title

     2/25/05
     Date










     7500 WEST JEFFERSON BLVD. * P.O. BOX 1289 FORT WAYNE, INDIANA 46801 *
     219-434-8411 * www Waterfield.com

     WATERFIELD FINANCIAL CORPORATION * WATERFIELD MORTGAGE COMPANY *
     WATERFIELD INSURANCE AGENCY UNION FEDERAL BANK * UNION INVESTMENT
     SERVICES INC
     (logo) EQUAL OPPORTUNITY EMPLOYER * EQUAL HOUSING LENDER





  Ex-99.4

   Schedule of Year-To-Date Principal and Interest Distributions to
   Certificateholders


   <TABLE>

   Class                              Interest             Principal               Losses             Ending Balance
   
                       <c>                    <c>                  <c>                 <c>
   A-1                            1,628,140.10          4,640,093.52                 0.00              70,359,906.49
   A-2                            4,163,996.31         11,500,317.09                 0.00             174,384,682.90
   A-3                            1,598,779.75          5,258,772.63                 0.00              69,741,227.35
   A-4                              218,750.00                  0.00                 0.00              10,000,000.00
   A-5                              127,595.99            841,403.63                 0.00              12,758,596.38
   A-6                              315,535.09                  0.00                 0.00              12,758,596.38
   B                                390,842.48          1,621,867.34                 0.00              24,593,132.65
   C                              2,340,443.50                  0.00                 0.00               3,875,243.00
   M-1                              368,819.33          2,355,249.59                 0.00              35,713,750.40
   M-2                              336,281.67          1,748,758.43                 0.00              26,517,241.56
   P                                 55,716.55                  0.00                 0.00                     100.00
   R-1                                    0.00                  0.00                 0.00                       0.00
   R-2                                    0.00                  0.00                 0.00                       0.00
   R-3                                    0.00                  0.00                 0.00                       0.00
   </TABLE>