-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GFZWsglluWiqJLDJJW61+s2GNcOfQ5011pBcrgabt7TOvKuNR6wl1dx17NL5Va+L +q3Iv+WG1h8yedv2uKTVVg== 0000950149-03-001566.txt : 20030707 0000950149-03-001566.hdr.sgml : 20030704 20030707150610 ACCESSION NUMBER: 0000950149-03-001566 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030620 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030707 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEQUOIA MORTGAGE FUNDING CORP CENTRAL INDEX KEY: 0001033146 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 911771827 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-22681 FILM NUMBER: 03776872 BUSINESS ADDRESS: STREET 1: 591 REDWOOD HWY STREET 2: STE 3120 CITY: MILL VALLEY STATE: CA ZIP: 94941 BUSINESS PHONE: 4153811765 MAIL ADDRESS: STREET 1: 591 REDWOOD HIGHWAY STREET 2: STE 3120 CITY: MILL VALLEY STATE: CA ZIP: 94941 8-K 1 f91333be8vk.htm FORM 8-K e8vk
 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

June 20, 2003
Date of Report (Date of Earliest Event Reported)

SEQUOIA MORTGAGE FUNDING CORPORATION
(as Depositor of Sequoia Mortgage Trust 7, the Issuer of Collateralized Mortgage
Bonds under an Indenture dated as of May 1, 2002)

SEQUOIA MORTGAGE FUNDING CORPORATION

(Exact Name of Registrant as Specified in Its Charter)
         
Delaware   333-22681   91-1771827
 
 
(State or Other Jurisdiction of Incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)

591 Redwood Highway, Suite 3120, Mill Valley, CA 94941

(Address of Principal Executive Offices)

(415) 381-1765

(Registrant’s Telephone Number,
Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

INFORMATION TO BE INCLUDED IN THE REPORT

     
Item 5.   Other Events
     
    Sequoia Mortgage Funding Corporation has previously registered the offer and sale of Collateralized Mortgage Bonds issued by Sequoia Mortgage Trust 7 (the “Bonds”).
     
    The following exhibit which relates specifically to the Bonds is included with this Current Report:
     
Item 7(c)   Exhibits
     
10.1   Monthly Payment Date Statement relating to the distribution to Bondholders, June 20, 2003.

 

 

SIGNATURE

          Pursuant to the requirements 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.

Date: July 7, 2003

         
    SEQUOIA MORTGAGE FUNDING
    CORPORATION
         
    By:       /s/ Harold F. Zagunis
     
      Harold F. Zagunis
      Chief Financial Officer, Treasurer
      and Secretary

 

 

EXHIBIT INDEX

             
Exhibit Number       Page Number
     
10.1   Monthly Payment Date Statement relating to the distribution to Bondholders, June 20, 2003     5  

  EX-10.1 3 f91333bexv10w1.txt EXHIBIT 10.1 EXHIBIT 10.1 CONTACT: CUSTOMER SERVICES -- CTSLINK WELLS FARGO BANK MINNESOTA, N.A. SECURITIES ADMINISTRATION SERVICES 7485 NEW HORIZON WAY FREDERICK, MD 21703 WWW.CTSLINK.COM TELEPHONE: (301) 815-6600 FAX: (301) 315-6660 SMT SERIES 2002-7 RECORD DATE: MAY 30, 2003 DISTRIBUTION DATE: JUNE 20, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
- -------------------------------------------------------------------------------------------------------------------------------- Certificate Beginning Class Certificate Pass- Certificate Interest Class CUSIP Description Through Rate Balance Distribution - -------------------------------------------------------------------------------------------------------------------------------- A 81743YAA5 SEN 1.65813% 494,196,889.81 682,868.90 A-R SMT0207AR SEN 3.51715% 0.00 0.00 B-1 81743YAE7 SUB 2.06813% 8,080,000.00 13,925.41 B-2 81743YAF4 SUB 2.80029% 5,771,000.00 13,467.05 B-3 81743YAG2 SUB 2.80029% 3,463,000.00 8,081.16 B-4 SMT0207B4 SUB 2.80029% 1,442,000.00 3,365.01 B-5 SMT0207B5 SUB 2.80029% 1,154,000.00 2,692.94 B-6 SMT0207B6 SUB 2.80029% 2,600,498.71 6,068.45 X-1 81743YAC1 SEN 0.95300% 0.00 68,043.11 X-2 81743YAD9 SEN 1.17311% 0.00 407,262.17 - -------------------------------------------------------------------------------------------------------------------------------- Totals 516,707,388.52 1,205,774.20 - -------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------ Ending Principal Current Certificate Total Cumulative Class Distribution Realized Loss Balance Distribution Realized Loss - ------------------------------------------------------------------------------------------------------------------------------ A 8,651,890.02 0.00 485,544,999.79 9,334,759.92 0.00 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 8,080,000.00 13,925.41 0.00 B-2 0.00 0.00 5,771,000.00 13,467.05 0.00 B-3 0.00 0.00 3,463,000.00 8,081.16 0.00 B-4 0.00 0.00 1,442,000.00 3,365.01 0.00 B-5 0.00 0.00 1,154,000.00 2,692.94 0.00 B-6 0.00 0.00 2,600,498.71 6,068.45 0.00 X-1 0.00 0.00 0.00 68,043.11 0.00 X-2 0.00 0.00 0.00 407,262.17 0.00 - -------------------------------------------------------------------------------------------------------------------------- Totals 8,651,890.02 0.00 508,055,498.50 9,857,664.22 0.00 - --------------------------------------------------------------------------------------------------------------------------
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT
- ------------------------------------------------------------------------------------------------------------------------------------ Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) - ------------------------------------------------------------------------------------------------------------------------------------ A 554,686,000.00 494,196,889.81 1,394.00 8,650,496.02 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 B-1 8,080,000.00 8,080,000.00 0.00 0.00 0.00 0.00 B-2 5,771,000.00 5,771,000.00 0.00 0.00 0.00 0.00 B-3 3,463,000.00 3,463,000.00 0.00 0.00 0.00 0.00 B-4 1,442,000.00 1,442,000.00 0.00 0.00 0.00 0.00 B-5 1,154,000.00 1,154,000.00 0.00 0.00 0.00 0.00 B-6 2,600,498.71 2,600,498.71 0.00 0.00 0.00 0.00 X-1 50.00 0.00 0.00 0.00 0.00 0.00 X-2 50.00 0.00 0.00 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ Totals 577,196,698.71 516,707,388.52 1,394.00 8,650,496.02 0.00 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ - --------------------------------------------------------------------------------------------------------- Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution - --------------------------------------------------------------------------------------------------------- A 8,651,890.02 485,544,999.79 0.87535110 8,651,890.02 A-R 0.00 0.00 0.00000000 0.00 B-1 0.00 8,080,000.00 1.00000000 0.00 B-2 0.00 5,771,000.00 1.00000000 0.00 B-3 0.00 3,463,000.00 1.00000000 0.00 B-4 0.00 1,442,000.00 1.00000000 0.00 B-5 0.00 1,154,000.00 1.00000000 0.00 B-6 0.00 2,600,498.71 1.00000000 0.00 X-1 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00000000 0.00 - -------------------------------------------------------------------------------------------------------- Totals 8,651,890.02 508,055,498.50 0.88021207 8,651,890.02 - --------------------------------------------------------------------------------------------------------
(1) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. PRINCIPAL DISTRIBUTION FACTORS STATEMENT
- ------------------------------------------------------------------------------------------------------------------------------- Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (3) - ------------------------------------------------------------------------------------------------------------------------------- A 554,686,000.00 890.94891490 0.00251313 15.59530260 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,080,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 5,771,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,463,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,442,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,154,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,600,498.71 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 - ------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----------------------------------------------------------------------------------------------------------- A 15.59781574 875.35109916 0.87535110 15.59781574 A-R 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 1000.00000000 1.00000000 0.00000000 X-1 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 - -------------------------------------------------------------------------------------------------------
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION STATEMENT
- --------------------------------------------------------------------------------------------------------------------------- Beginning Payment of Certificate/ Current Unpaid Original Face Current Notional Accrued Interest Class Amount Certificate Rate Balance Interest Shortfall - --------------------------------------------------------------------------------------------------------------------------- A 554,686,000.00 1.65813% 494,196,889.81 682,868.91 0.00 A-R 100.00 3.51715% 0.00 0.00 0.00 B-1 8,080,000.00 2.06813% 8,080,000.00 13,925.41 0.00 B-2 5,771,000.00 2.80029% 5,771,000.00 13,467.05 0.00 B-3 3,463,000.00 2.80029% 3,463,000.00 8,081.16 0.00 B-4 1,442,000.00 2.80029% 1,442,000.00 3,365.01 0.00 B-5 1,154,000.00 2.80029% 1,154,000.00 2,692.94 0.00 B-6 2,600,498.71 2.80029% 2,600,498.71 6,068.45 0.00 X-1 50.00 0.95300% 85,678,418.94 68,043.11 0.00 X-2 50.00 1.17311% 416,598,470.87 407,262.18 0.00 - ------------------------------------------------------------------------------------------------------------------ Totals 577,196,698.71 1,205,774.22 0.00 - ------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------- Non- Remaining Ending Current Supported Unpaid Certificate/ Interest Interest Realized Total Interest Interest Notational Class Shortfall Shortfall Loss (4) Distribution Shortfall Balance - ------------------------------------------------------------------------------------------------------------------------- A 0.00 0.00 0.00 682,868.90 0.00 485,544,999.79 A-R 0.00 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 0.00 13,925.41 0.00 8,080,000.00 B-2 0.00 0.00 0.00 13,467.05 0.00 5,771,000.00 B-3 0.00 0.00 0.00 8,081.16 0.00 3,463,000.00 B-4 0.00 0.00 0.00 3,365.01 0.00 1,442,000.00 B-5 0.00 0.00 0.00 2,692.94 0.00 1,154,000.00 B-6 0.00 0.00 0.00 6,068.45 0.00 2,600,498.71 X-1 0.00 0.00 0.00 68,043.11 0.00 84,958,359.34 X-2 0.00 0.00 0.00 407,262.17 0.00 408,666,640.45 - ------------------------------------------------------------------------------------------------------------------------ Totals 0.00 0.00 0.00 1,205,774.20 0.00 - ------------------------------------------------------------------------------------------------------------------------
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION FACTORS STATEMENT
Payment of Current Beginning Unpaid Current Original Face Certificate Certificate/ Current Accrued Interest Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall - ------------------------------------------------------------------------------------------------------------------------------------ A 554,686,000.00 1.65813% 890.94891490 1.23109094 0.00000000 0.00000000 A-R 100.00 3.51715% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,080,000.00 2.06813% 1000.00000000 1.72344183 0.00000000 0.00000000 B-2 5,771,000.00 2.80029% 1000.00000000 2.33357304 0.00000000 0.00000000 B-3 3,463,000.00 2.80029% 1000.00000000 2.33357205 0.00000000 0.00000000 B-4 1,442,000.00 2.80029% 1000.00000000 2.33357143 0.00000000 0.00000000 B-5 1,154,000.00 2.80029% 1000.00000000 2.33357019 0.00000000 0.00000000 B-6 2,600,498.71 2.80029% 1000.00000000 2.33357162 0.00000000 0.00000000 X-1 50.00 0.95300% 1713568.37880000 1360.86220000 0.00000000 0.00000000 X-2 50.00 1.17311% 8331969.41740000 8145.24360000 0.00000000 0.00000000 - ------------------------------------------------------------------------------------------------------------------------------------ Non- Remaining Supported Unpaid Interest Realized Total Interest Interest Ending Certificate/ Class (5) Shortfall Loss (6) Distribution Shortfall Notational Balance - --------------------------------------------------------------------------------------------------------------------- A 0.00000000 0.00000000 1.23109092 0.00000000 875.35109916 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1.72344183 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.33357304 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.33357205 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.33357143 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.33357019 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.33357162 0.00000000 1000.00000000 X-1 0.00000000 0.00000000 1360.86220000 0.00000000 1699167.18680000 X-2 0.00000000 0.00000000 8145.24340000 0.00000000 8173332.80900000 - --------------------------------------------------------------------------------------------------------------------
(5) Per $1 denomination (6) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 10,023,021.33 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 967.60 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 10,023,988.93 Withdrawals Reimbursement for Servicer Advances 342.73 Payment of Service Fee 165,981.98 Payment of Interest and Principal 9,857,664.22 ------------- Total Withdrawals (Pool Distribution Amount) 10,023,988.93 Ending Balance 0.00 =============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 ---- Non-Supported Prepayment Curtailment Interest Shortfall 0.01 ====
SERVICING FEES Gross Servicing Fee 161,676.11 Master Servicing Fee 4,305.87 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 165,981.98 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - -------------------------------------------------------------------------------------------------------- Basis Risk Reserve Fund - X-1 1,512.84 0.00 0.00 1,512.84 Basis Risk Reserve Fund - X-2 8,487.16 0.00 0.00 8,487.16 - --------------------------------------------------------------------------------------------------------
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
- --------------------------------------------------------------------------------------------------------------- DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------------------------------------------------------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 2 389,504.17 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- ---------- -------- -------- -------- -------- 2 389,504.17 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0.143062% 0.076666% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- -------- -------- -------- -------- 0.143062% 0.076666% 0.000000% 0.000000% 0.000000% 0.000000% - -------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------- REO TOTAL - --------------------------------------------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0 0.00 30 Days 2 389,504.17 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- ---------- 0 0.00 2 389,504.17 No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.143062% 0.076666% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- ---------- 0.000000% 0.000000% 0.143062% 0.076666% - --------------------------------------------------------------------------
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 967.60
Original $ Original % Current $ Current % Bankruptcy 100,261.00 0.01737033% 100,261.00 0.01973426% Fraud 17,315,901.00 3.00000001% 17,315,901.00 3.40826958% Special Hazard 5,771,967.00 1.00000000% 5,080,554.99 1.00000000%
Limit of subordinate's exposure to certain types of losses DELINQUENCY STATUS BY GROUP ONE-MONTH LIBOR
- --------------------------------------------------------------------------------------------------------------- DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------------------------------------------------------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0 0.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- -------- -------- -------- 0 0.00 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------- REO TOTAL - -------------------------------------------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- -------- 0 0.00 0 0.00 No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.000000% 0.000000% 0.000000% 0.000000% - -------------------------------------------------------------------------
SIX-MONTH LIBOR
- --------------------------------------------------------------------------------------------------------------- DELINQUENT BANKRUPTCY FORECLOSURE - --------------------------------------------------------------------------------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 2 389,504.17 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- ---------- -------- -------- -------- -------- 2 389,504.17 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0.169779% 0.092604% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- ---------- -------- -------- -------- -------- 0.169779% 0.092604% 0.000000% 0.000000% 0.000000% 0.000000% - --------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------- REO TOTAL - -------------------------------------------------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0 0.00 30 Days 2 389,504.17 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- --------- -------- ---------- 0 0.00 2 389,504.17 No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.169779% 0.092604% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- ---------- 0.000000% 0.000000% 0.169779% 0.092604% - --------------------------------------------------------------------------
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 3.185763% Weighted Average Net Coupon 2.810287% Weighted Average Pass-Through Rate 2.800287% Weighted Average Maturity (Stepdown Calculation) 347 Beginning Scheduled Collateral Loan Count 1,420 Number of Loans Paid in Full 22 Ending Scheduled Collateral Loan Count 1,398 Beginning Scheduled Collateral Balance 516,707,388.52 Ending Scheduled Collateral Balance 508,055,498.50 Ending Actual Collateral Balance at 30-May-2003 508,052,909.55 Monthly P&I Constant 1,373,150.24 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 1,394.00 Unscheduled Principal 8,650,496.02
MISCELLANEOUS REPORTING Pro Rata Senior Percent 95.643473% Senior Percent 100.000000% Senior Prepay Percent 100.000000% Subordinate Percent 0.000000% Subordinate Prepay Percent 0.000000%
GROUP ONE MONTH LIBOR SIX MONTH LIBOR TOTAL Collateral Description Monthly 6 Month Arm Mixed Fixed & Arm Weighted Average Coupon Rate 3.002728 3.223407 3.185763 Weighted Average Net Rate 2.627728 2.847833 2.810287 Pass-Through Rate 2.617728 2.837833 2.800287 Weighted Average Maturity 307 308 347 Record Date 05/30/2003 05/30/2003 05/30/2003 Principal and Interest Constant 220,550.30 1,152,599.94 1,373,150.24 Beginning Loan Count 222 1,198 1,420 Loans Paid in Full 2 20 22 Ending Loan Count 220 1,178 1,398 Beginning Scheduled Balance 88,139,974.19 428,567,414.33 516,707,388.52 Ending Scheduled Balance 87,442,008.86 420,613,489.64 508,055,498.50 Scheduled Principal 0.00 1,394.00 1,394.00 Unscheduled Principal 697,965.33 7,952,530.69 8,650,496.02 Scheduled Interest 220,550.30 1,151,205.94 1,371,756.24 Servicing Fee 27,543.74 134,132.37 161,676.11 Master Servicing Fee 734.49 3,571.38 4,305.87 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 192,272.07 1,013,502.19 1,205,774.26 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00
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