-----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, BKqai2/TXCxqC1O0ydyJfpe40/LcsmylNTnWa75hztlwQu9XDaFEaN/uGuzRNv2P fvaK/fwPB6lcQeotaY7jbw== 0000950149-04-000562.txt : 20040308 0000950149-04-000562.hdr.sgml : 20040308 20040305183308 ACCESSION NUMBER: 0000950149-04-000562 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040220 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040308 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: 04653212 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 f97107ce8vk.txt FORM 8-K 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 February 20, 2004 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.)
One Belvedere Place, Suite 320, Mill Valley, CA 94941 ----------------------------------------------------- (Address of Principal Executive Offices) (415) 381-1765 ----------------- (Registrant's Telephone Number, Including Area Code) 591 Redwood Highway, Suite 3120, Mill Valley, CA 94941 ------------------------------------------------------- (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, February 20, 2004. 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: March 5, 2004 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, February 20, 2004................................................. 5
EX-10.1 3 f97107cexv10w1.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: JANUARY 30, 2004 DISTRIBUTION DATE: FEBRUARY 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Current Ending Cumulative Class Pass-Through Certificate Interest Principal Realized Certificate Total Realized Class CUSIP Description Rate Balance Distribution Distribution Loss Balance Distribution Loss - ---------------------------------------------------------------------------------------------------------------------------------- A 81743YAA5 SEN 1.44000% 426,645,507.29 511,974.61 4,805,555.34 0.00 421,839,951.95 5,317,529.95 0.00 A-R SMT0207AR SEN 3.50743% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 81743YAE7 SUB 1.85000% 8,080,000.00 12,456.67 0.00 0.00 8,080,000.00 12,456.67 0.00 B-2 81743YAF4 SUB 2.63982% 5,771,000.00 12,695.33 0.00 0.00 5,771,000.00 12,695.53 0.00 B-3 81743YAG2 SUB 2.63982% 3,463,000.00 7,618.08 0.00 0.00 3,463,000.00 7,618.08 0.00 B-4 SMT0207B4 SUB 2.63982% 1,442,000.00 3,172.18 0.00 0.00 1,442,000.00 3,172.18 0.00 B-5 SMT0207B5 SUB 2.63982% 1,154,000.00 2,538.63 0.00 0.00 1,154,000.00 2,538.63 0.00 B-6 SMT0207B6 SUB 2.63982% 2,600,498.71 5,720.71 0.00 0.00 2,600,498.71 5,720.71 0.00 X-1 81743YAC1 SEN 1.02400% 0.00 64,692.07 0.00 0.00 0.00 64,692.07 0.00 X-2 81743YAD9 SEN 1.22773% 0.00 367,207.36 0.00 0.00 0.00 367,207.36 0.00 - ---------------------------------------------------------------------------------------------------------------------------------- Totals 449,156,006.00 988,075.64 4,805,555.34 0.00 444,350,450.66 5,793,630.98 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 554,686,000.00 426,645,507.29 2.09 4,805,553.25 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 577,196,698.71 449,156,006.00 2.09 4,805,553.25 0.00 0.00 - --------------------------------------------------------------------------------------------------------- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ---------------------------------------------------------------------------------------------- A 4,805,555.34 421,839,951.95 0.76050225 4,805,555.34 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 4,805,555.34 444,350,450.66 0.76984233 4,805,555.34 - ----------------------------------------------------------------------------------------------
(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 Total Ending Ending Total Original Face Certificate Principal Principal Realized Principal Certificate Certificate Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance Percentage Distribution - ------------------------------------------------------------------------------------------------------------------------------------ A 554,686,000.00 769.16581145 0.00000377 8.66355605 0.00000000 0.00000000 8.66355982 760.50225163 0.76050225 8.66355982 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 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 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 5,771,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 3,463,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 1,442,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 1,154,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 2,600,498.71 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 X-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 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 Non- Certificate/ Current Unpaid Current Supported Original Face Current Notional Accrued Interest Interest Interest Realized Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ---------------------------------------------------------------------------------------------------------------------------------- A 554,686,000.00 1.44000% 426,645,507.29 511,974.61 0.00 0.00 0.00 0.00 A-R 100.00 3.50743% 0.00 0.00 0.00 0.00 0.00 0.00 B-1 8,080,000.00 1.85000% 8,080,000.00 12,456.67 0.00 0.00 0.00 0.00 B-2 5,771,000.00 2.63982% 5,771,000.00 12,695.33 0.00 0.00 0.00 0.00 B-3 3,463,000.00 2.63982% 3,463,000.00 7,618.08 0.00 0.00 0.00 0.00 B-4 1,442,000.00 2.63982% 1,442,000.00 3,172.18 0.00 0.00 0.00 0.00 B-5 1,154,000.00 2.63982% 1,154,000.00 2,538.63 0.00 0.00 0.00 0.00 B-6 2,600,498.71 2.63982% 2,600,498.71 5,720.71 0.00 0.00 0.00 0.00 X-1 50.00 1.02400% 75,811,259.13 64,692.07 0.00 0.00 0.00 0.00 X-2 50.00 1.22773% 358,914,248.16 367,207.36 0.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------------------------------------------------- Totals 577,196,698.71 988,075.64 0.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------------------------------------------------- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - --------------------------------------------------------- A 511,974.61 0.00 421,839,951.95 A-R 0.00 0.00 0.00 B-1 12,456.67 0.00 8,080,000.00 B-2 12,695.33 0.00 5,771,000.00 B-3 7,618.08 0.00 3,463,000.00 B-4 3,172.18 0.00 1,442,000.00 B-5 2,538.63 0.00 1,154,000.00 B-6 5,720.71 0.00 2,600,498.71 X-1 64,692.07 0.00 75,057,870.07 X-2 367,207.36 0.00 354,862,081.88 - --------------------------------------------------------- Totals 988,075.64 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 Non- Current Beginning Unpaid Current Supported Class Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ------------------------------------------------------------------------------------------------------------------------------------ A 554,686,000.00 1.44000% 769.16581145 0.92299898 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.50743% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,080,000.00 1.85000% 1000.00000000 1.54166708 0.00000000 0.00000000 0.00000000 0.00000000 B-2 5,771,000.00 2.63982% 1000.00000000 2.19984925 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,463,000.00 2.63982% 1000.00000000 2.19984984 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,442,000.00 2.63982% 1000.00000000 2.19984743 0.00000000 0.00000000 0.00000000 0.00000000 B-5 1,154,000.00 2.63982% 1000.00000000 2.19985269 0.00000000 0.00000000 0.00000000 0.00000000 B-6 2,600,498.71 2.63982% 1000.00000000 2.19985112 0.00000000 0.00000000 0.00000000 0.00000000 X-1 50.00 1.02400% 1516225.18260000 1293.84140000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 50.00 1.22773% 7178284.96320000 7344.14720000 0.00000000 0.00000000 0.00000000 0.00000000 - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Unpaid Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance - ------------------------------------------------------------ A 0.92299898 0.00000000 760.50225163 A-R 0.00000000 0.00000000 0.00000000 B-1 1.54166708 0.00000000 1000.00000000 B-2 2.19984925 0.00000000 1000.00000000 B-3 2.19984984 0.00000000 1000.00000000 B-4 2.19984743 0.00000000 1000.00000000 B-5 2.19985269 0.00000000 1000.00000000 B-6 2.19985112 0.00000000 1000.00000000 X-1 1293.84140000 0.00000000 1501157.40140000 X-2 7344.14720000 0.00000000 7097241.63760000 - ----------------------------------------------------------
(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 5,937,404.06 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1,422.92 Realized Losses 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 5,938,826.98 Withdrawals Reimbursement for Servicer Advances 952.24 Payment of Service Fee 144,243.76 Payment of Interest and Principal 5,793,630.98 ------------ Total Withdrawals (Pool Distribution Amount) 5,938,826.98 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 0.00 ====
SERVICING FEES Gross Servicing Fee 140,500.81 Master Servicing Fee 3,742.95 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 144,243.76 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ----------------------------------------------------------------------------- Basis Risk Reserve Fund - X-1 1,512.56 0.00 0.00 1,512.56 Basis Risk Reserve Fund - X-2 8,487.44 0.00 0.00 8,487.44
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 1 320,000.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 300,000.00 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 --------- ---------- --------- --------- --------- --------- 2 620,000.00 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0.080515% 0.072016% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.080515% 0.067515% 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% --------- ---------- --------- --------- --------- --------- 0.161031% 0.139530% 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 1 320,000.00 60 Days 0 0.00 60 Days 1 300,000.00 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 2 620,000.00 No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.080515% 0.072016% 60 Days 0.000000% 0.000000% 60 Days 0.080515% 0.067515% 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% 0.161031% 0.139530%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1,422.92
Original $ Original % Current $ Current % Bankruptcy 100,261.00 0.01737033% 100,261.00 0.02256350% Fraud 17,315,901.00 3.00000001% 10,161,109.97 2.28673336% Special Hazard 5,771,967.00 1.00000000% 5,006,000.00 1.12658826%
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 1 300,000.00 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 --------- ---------- --------- --------- --------- --------- 1 300,000.00 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 0.497512% 0.386710% 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% --------- ---------- --------- --------- --------- --------- 0.497512% 0.386710% 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 1 300,000.00 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 1 300,000.00 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 0.497512% 0.386710% 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% 0.497512% 0.386710%
SIX-MONTH LIBOR
DELINQUENT BANKRUPTCY FORECLOSURE - ---------------------------------------------------------------------------------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 1 320,000.00 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 --------- ---------- --------- --------- --------- --------- 1 320,000.00 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 30 Days 0.096061% 0.087248% 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% --------- ---------- --------- --------- --------- --------- 0.096061% 0.087248% 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 1 320,000.00 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 1 320,000.00 No. of Principal No. of Principal Loans Balance Loans Balance 30 Days 0.000000% 0.000000% 30 Days 0.096061% 0.087248% 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% 0.096061% 0.087248%
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 3.025192% Weighted Average Net Coupon 2.649819% Weighted Average Pass-Through Rate 2.639819% Weighted Average Maturity (Stepdown Calculation) 339 Beginning Scheduled Collateral Loan Count 1,253 Number of Loans Paid in Full 11 Ending Scheduled Collateral Loan Count 1,242 Beginning Scheduled Collateral Balance 449,156,006.00 Ending Scheduled Collateral Balance 444,350,450.66 Ending Actual Collateral Balance at 30-Jan-2004 444,347,655.79 Monthly P&I Constant 1,132,321.50 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 2.09 Unscheduled Principal 4,805,553.25
MISCELLANEOUS REPORTING Pro Rata Senior Percent 94.988267% 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 2.856617 3.060799 3.025192 Weighted Average Net Rate 2.481617 2.685348 2.649819 Pass-Through Rate 2.471617 2.675348 2.639819 Weighted Average Maturity 299 300 339 Record Date 01/30/2004 01/30/2004 01/30/2004 Principal and Interest Constant 186,460.40 945,861.10 1,132,321.50 Beginning Loan Count 202 1,051 1,253 Loans Paid in Full 1 10 11 Ending Loan Count 201 1,041 1,242 Beginning Scheduled Balance 78,327,776.47 370,828,229.53 449,156,006.00 Ending Scheduled Balance 77,577,228.60 366,773,222.06 444,350,450.66 Scheduled Principal 0.00 2.09 2.09 Unscheduled Principal 750,547.87 4,055,005.38 4,805,553.25 Scheduled Interest 186,460.40 945,859.01 1,132,319.41 Servicing Fee 24,477.43 116,023.38 140,500.81 Master Servicing Fee 652.73 3,090.22 3,742.95 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 161,330.24 826,745.41 988,075.65 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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