Item 1.
Business.
Not applicable.
Item 2.
Item 2.
Properties.
Not applicable.
Item 3.
Item 3.
Legal Proceedings.
There were no legal proceedings.
Item 4.
Item 4.
Submission of Matters to a Vote of Security Holders.
There were no matters submitted to a vote of the Security Holders.
PART II
Item 5.
Item 5.
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
As of December 31, 2004, the Trust had Forty-Six (46) holders of record of the Certificates, computed in accordance with Rule 12g5-1 under the Securities Exchange Act of 1934, as amended.
Item 6.
Item 6.
Selected Financial Data.
Not applicable.
Item 7.
Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operation.
Not applicable.
Item 7A.
Item 7A.
Quantitative and Qualitative Disclosures About Market Risk.
Not applicable.
Item 8.
Item 8.
Financial Statements and Supplementary Data.
Not applicable.
Item 9.
Item 9.
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.
Not applicable.
Item 9A.
Item 9A.
Controls and Procedures.
Not applicable.
Item 9B.
Item 9B.
Other Information.
Not applicable.
PART III
Item 10.
Item 10.
Directors and Executive Officers of the Registrant.
Not applicable.
Item 11.
Item 11.
Executive Compensation.
Not applicable.
Item 12.
Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
Not applicable.
Item 13.
Item 13.
Certain Relationships and Related Transactions.
Not applicable.
Item 14.
Item 14.
Principal Accounting Fees and Services.
Not applicable.
PART IV
Item 15.
Item 15.
Exhibits, Financial Statement Schedules.
(a)
1. Not Applicable
2. Not Applicable
3. Exhibits
31.1 Sarbanes-Oxley Certification
99.1 Annual Statement of Compliance
(a) Saxon Mortgage Services, Inc.
99.2 Report of Independent Registered Public Accounting Firm / Management's Assertion
(a) Saxon Mortgage Services, Inc.
(b)
See (a) 3 above
(c)
Not Applicable
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.
Asset Backed Securities Corporation
Home Equity Loan Trust Series 2004-HE7
Asset Backed Pass-Through Certificates, Series 2004-HE7
Date:
March 30, 2005
By:
/s/ Greg Richter
Name:
Greg Richter
Title:
Vice President
Company:
Asset Backed Securities Corporation
EXHIBIT INDEX
31.1 Sarbanes-Oxley Certification
99.1 Annual Statement of Compliance
(a) Saxon Mortgage Services, Inc.
99.2 Report of Independent Registered Public Accounting Firm / Management's Assertion
(a) Saxon Mortgage Services, Inc.
Exhibit 31.1: Sarbanes-Oxley Certification
Re: Asset Backed Securities Corporation, Home Equity Loan Trust Series 2004-HE7, Asset Backed Pass-Through Certificates, Series 2004-HE7
I, Greg Richter, Vice President of Asset Backed Securities Corporation, 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 Asset Backed Securities Corporation Home Equity Loan Trust Series 2004-HE7 Asset Backed Pass-Through Certificates, Series 2004-HE7;
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 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, 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 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:
U.S. Bank National Association, as Trustee
Saxon Mortgage Services, Inc., as Servicer
Date:
March 30, 2005
Signature:
/s/ Greg Richter
Title:
Vice President
Company:
Asset Backed Securities Corporation