-----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, WZPPtcsq3js98lba4HUWdBG0WnHx+3MZpDg9t6gl3AHXrqszVhAsMn0Sx9cFIMv5 Y+9gzarX8l9CaYiU2OkL6Q== 0000950134-04-004687.txt : 20040405 0000950134-04-004687.hdr.sgml : 20040405 20040405164520 ACCESSION NUMBER: 0000950134-04-004687 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040322 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040405 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEQUOIA RESIDENTIAL FUNDING INC CENTRAL INDEX KEY: 0001176320 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 352170972 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-90772-01 FILM NUMBER: 04718015 BUSINESS ADDRESS: STREET 1: 591 REDWOOD HWY STREET 2: SUITE 3160 CITY: MILL VALLEY STATE: CA ZIP: 94941 BUSINESS PHONE: 4153897373 MAIL ADDRESS: STREET 1: 591 REDWOOD HWY STREET 2: SUITE 3160 CITY: MILL VALLEY STATE: CA ZIP: 94941 8-K 1 f97888ce8vk.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 March 22, 2004 Date of Report (Date of Earliest Event Reported) SEQUOIA RESIDENTIAL FUNDING, INC. (as Depositor of Sequoia Mortgage Trust 10, the Issuer of Mortgage Pass-Through Certificates under a Pooling and Servicing Agreement dated as of September 1, 2002) SEQUOIA RESIDENTIAL FUNDING, INC. ------------------------------------- (Exact Name of Registrant as Specified in Its Charter) Delaware 333-90772 35-2170972 -------- --------- ---------- (State or Other Jurisdiction (Commission File Number) (I.R.S. Employer of Incorporation) Identification No.) One Belvedere Place, Suite 330, Mill Valley, CA 94941 ------------------------------------------------------ (Address of Principal Executive Offices) (415) 381-1765 -------------- (Registrant's Telephone Number, Including Area Code) 591 Redwood Highway, Suite 3100, 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 Residential Funding, Inc. has previously registered the offer and sale of Mortgage Pass-Through Certificates issued by Sequoia Mortgage Trust 10 (the "Certificates"). The following exhibit which relates specifically to the Certificates is included with this Current Report: Item 7(c). Exhibits 10.1 Monthly Payment Date Statement relating to the distribution to Certificateholders, March 22, 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: April 2, 2004 SEQUOIA RESIDENTIAL FUNDING, INC. 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 Certificateholders, March 22, 2004.................................. 5
EX-10.1 3 f97888cexv10w1.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 2002-10 RECORD DATE: FEBRUARY 27, 2004 DISTRIBUTION DATE: MARCH 22, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Class Pass-Through Beginning Interest Principal Class CUSIP Description Rate Certificate Balance Distribution Distribution - ------ --------- ----------- ------------ ------------------- ------------ ------------ 1A 81743VAA1 SEN 1.49125% 705,567,686.23 876,814.85 7,407,415.21 2A-1 81743VAB9 SEN 1.47125% 161,582,115.52 198,106.41 1,037,251.81 2A-2 81743VAN3 SEN 1.77125% 3,500,000.00 5,166.15 0.00 X-1A 81743VAC7 IO 1.14345% 0.00 316,012.94 0.00 X-1B 81743VAD5 IO 1.28885% 0.00 401,613.55 0.00 X-2 81743VAP8 IO 1.30393% 0.00 179,379.50 0.00 X-B 81743VAE3 IO 0.72360% 0.00 15,512.16 0.00 A-R 81743VAF0 SEN 3.37721% 0.00 0.00 0.00 B-1 81743VAG8 SUB 1.89125% 12,600,000.00 19,858.13 0.00 B-2 81743VAH6 SUB 1.89125% 8,400,000.00 13,238.75 0.00 B-3 81743VAJ2 SUB 2.49125% 4,725,000.00 9,809.30 0.00 B-4 SMT0210B4 SUB 2.72505% 2,625,000.00 5,961.05 0.00 B-5 SMT0210B5 SUB 2.72505% 2,100,000.00 4,768.84 0.00 B-6 SMT0210B6 SUB 2.72505% 3,685,162.00 8,368.55 0.00 --------- --- ------- -------------- ------------ ------------ Totals 904,784,963.75 2,054,610.18 8,444,667.02 --------- --- ------- -------------- ------------ ------------
Current Ending Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss - ------ --------- ------------- ------------------ -------------- ------------- 1A 81743VAA1 0.00 698,160,271.02 8,284,230.06 0.00 2A-1 81743VAB9 0.00 160,544,863.71 1,235,358.22 0.00 2A-2 81743VAN3 0.00 3,500,000.00 5,166.15 0.00 X-1A 81743VAC7 0.00 0.00 316,012.94 0.00 X-1B 81743VAD5 0.00 0.00 401,613.55 0.00 X-2 81743VAP8 0.00 0.00 179,379.50 0.00 X-B 81743VAE3 0.00 0.00 15,512.16 0.00 A-R 81743VAF0 0.00 0.00 0.00 0.00 B-1 81743VAG8 0.00 12,600,000.00 19,858.13 0.00 B-2 81743VAH6 0.00 8,400,000.00 13,238.75 0.00 B-3 81743VAJ2 0.00 4,725,000.00 9,809.30 0.00 B-4 SMT0210B4 0.00 2,625,000.00 5,961.05 0.00 B-5 SMT0210B5 0.00 2,100,000.00 4,768.84 0.00 B-6 SMT0210B6 0.00 3,685,162.00 8,368.55 0.00 --------- ---- -------------- ------------- ---- Totals 0.00 896,340,296.73 10,499,277.20 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) - ------ --------------- -------------- ------------ ------------- --------- --------- 1A 822,375,000.00 705,567,686.23 0.00 7,407,415.21 0.00 0.00 2A-1 190,000,000.00 161,582,115.52 0.00 1,037,251.81 0.00 0.00 2A-2 3,500,000.00 3,500,000.00 0.00 0.00 0.00 0.00 X-1A 0.00 0.00 0.00 0.00 0.00 0.00 X-1B 0.00 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 B-1 12,600,000.00 12,600,000.00 0.00 0.00 0.00 0.00 B-2 8,400,000.00 8,400,000.00 0.00 0.00 0.00 0.00 B-3 4,725,000.00 4,725,000.00 0.00 0.00 0.00 0.00 B-4 2,625,000.00 2,625,000.00 0.00 0.00 0.00 0.00 B-5 2,100,000.00 2,100,000.00 0.00 0.00 0.00 0.00 B-6 3,685,162.00 3,685,162.00 0.00 0.00 0.00 0.00 ---------------- -------------- ------------ ------------- --------- --------- Totals 1,050,010,262.00 904,784,963.75 0.00 8,444,667.02 0.00 0.00 ---------------- -------------- ------------ ------------- --------- ---------
Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ------ --------------- ------------------ ------------------ --------------- 1A 7,407,415.21 698,160,271.02 0.84895610 7,407,415.21 2A-1 1,037,251.81 160,544,863.71 0.84497297 1,037,251.81 2A-2 0.00 3,500,000.00 1.00000000 0.00 X-1A 0.00 0.00 0.00000000 0.00 X-1B 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 B-1 0.00 12,600,000.00 1.00000000 0.00 B-2 0.00 8,400,000.00 1.00000000 0.00 B-3 0.00 4,725,000.00 1.00000000 0.00 B-4 0.00 2,625,000.00 1.00000000 0.00 B-5 0.00 2,100,000.00 1.00000000 0.00 B-6 0.00 3,685,162.00 1.00000000 0.00 --------------- ------------------ ------------------ --------------- Totals 8,444,667.02 896,340,296.73 0.85364908 8,444,667.02 --------------- ------------------ ------------------ ---------------
(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
Scheduled Unscheduled Original Face Beginning Principal Principal Realized Class Amount Certificate Balance Distribution Distribution Accretion Loss (3) - ------ ---------------- ------------------- ------------ ------------ ---------- ---------- 1A 822,375,000.00 857.96344275 0.00000000 9.00734484 0.00000000 0.00000000 2A-1 190,000,000.00 850.43218695 0.00000000 5.45922005 0.00000000 0.00000000 2A-2 3,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 12,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 4,725,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,685,162.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Ending Total Principal Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ------ --------------- ------------- ------------------ ---------------- 1A 9.00734484 848.95609791 0.84895610 9.00734484 2A-1 5.45922005 844.97296689 0.84497297 5.45922005 2A-2 0.00000000 1000.00000000 1.00000000 0.00000000 X-1A 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 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
(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.
Beginning Payment of Current Certificate/ Current Unpaid Current Original Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall - ------ -------------- ----------- -------------- ------------ ---------- --------- 1A 822,375,000.00 1.49125% 705,567,686.23 876,814.84 0.00 0.00 2A-1 190,000,000.00 1.47125% 161,582,115.52 198,106.41 0.00 0.00 2A-2 3,500,000.00 1.77125% 3,500,000.00 5,166.15 0.00 0.00 X-1A 0.00 1.14345% 331,640,667.97 316,012.94 0.00 0.00 X-1B 0.00 1.28885% 373,927,018.26 401,613.55 0.00 0.00 X-2 0.00 1.30393% 165,082,115.52 179,379.50 0.00 0.00 X-B 0.00 0.72360% 25,725,000.00 15,512.16 0.00 0.00 A-R 100.00 3.37721% 0.00 0.00 0.00 0.00 B-1 12,600,000.00 1.89125% 12,600,000.00 19,858.13 0.00 0.00 B-2 8,400,000.00 1.89125% 8,400,000.00 13,238.75 0.00 0.00 B-3 4,725,000.00 2.49125% 4,725,000.00 9,809.30 0.00 0.00 B-4 2,625,000.00 2.72505% 2,625,000.00 5,961.05 0.00 0.00 B-5 2,100,000.00 2.72505% 2,100,000.00 4,768.84 0.00 0.00 B-6 3,685,162.00 2.72505% 3,685,162.00 8,368.55 0.00 0.00 - ------ ---------------- ----------- -------------- ------------ ---------- --------- Totals 1,050,010,262.00 2,054,610.17 0.00 0.00 - ------ ---------------- ----------- -------------- ------------ ---------- ---------
Non- Remaining Ending Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance - ------ --------- -------- -------------- --------- --------------- 1A 0.00 0.00 876,814.85 0.00 698,160,271.02 2A-1 0.00 0.00 198,106.41 0.00 160,544,863.71 2A-2 0.00 0.00 5,166.15 0.00 3,500,000.00 X-1A 0.00 0.00 316,012.94 0.00 328,582,389.78 X-1B 0.00 0.00 401,613.55 0.00 369,577,881.23 X-2 0.00 0.00 179,379.50 0.00 164,044,863.71 X-B 0.00 0.00 15,512.16 0.00 25,725,000.00 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 19,858.13 0.00 12,600,000.00 B-2 0.00 0.00 13,238.75 0.00 8,400,000.00 B-3 0.00 0.00 9,809.30 0.00 4,725,000.00 B-4 0.00 0.00 5,961.05 0.00 2,625,000.00 B-5 0.00 0.00 4,768.84 0.00 2,100,000.00 B-6 0.00 0.00 8,368.55 0.00 3,685,162.00 - ------ --------- -------- -------------- --------- --------------- Totals 0.00 0.00 2,054,610.18 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
Beginning Payment of Current Certificate/ Current Unpaid Current Original Face Certificate Notional Accrued Interest Interest Class(5) Amount Rate Balance Interest Shortfall Shortfall - -------- -------------- ----------- -------------- ---------- ---------- ---------- 1A 822,375,000.00 1.49125% 857.96344275 1.06619832 0.00000000 0.00000000 2A-1 190,000,000.00 1.47125% 850.43218695 1.04266532 0.00000000 0.00000000 2A-2 3,500,000.00 1.77125% 1000.00000000 1.47604286 0.00000000 0.00000000 X-1A 0.00 1.14345% 843.95571244 0.80418643 0.00000000 0.00000000 X-1B 0.00 1.28885% 870.78198038 0.93525695 0.00000000 0.00000000 X-2 0.00 1.30393% 853.13754791 0.92702584 0.00000000 0.00000000 X-B 0.00 0.72360% 1000.00000000 0.60299942 0.00000000 0.00000000 A-R 100.00 3.37721% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 12,600,000.00 1.89125% 1000.00000000 1.57604206 0.00000000 0.00000000 B-2 8,400,000.00 1.89125% 1000.00000000 1.57604167 0.00000000 0.00000000 B-3 4,725,000.00 2.49125% 1000.00000000 2.07604233 0.00000000 0.00000000 B-4 2,625,000.00 2.72505% 1000.00000000 2.27087619 0.00000000 0.00000000 B-5 2,100,000.00 2.72505% 1000.00000000 2.27087619 0.00000000 0.00000000 B-6 3,685,162.00 2.72505% 1000.00000000 2.27087710 0.00000000 0.00000000
Non- Remaining Supported Unpaid Interest Realized Total Interest Interest Ending Certificate/ Class(5) Shortfall Loss (6) Distribution Shortfall Notational Balance - -------- ---------- ---------- -------------- ---------- ------------------- 1A 0.00000000 0.00000000 1.06619833 0.00000000 848.95609791 2A-1 0.00000000 0.00000000 1.04266532 0.00000000 844.97296689 2A-2 0.00000000 0.00000000 1.47604286 0.00000000 1000.00000000 X-1A 0.00000000 0.00000000 0.80418643 0.00000000 836.17303801 X-1B 0.00000000 0.00000000 0.93525695 0.00000000 860.65393407 X-2 0.00000000 0.00000000 0.92702584 0.00000000 847.77707344 X-B 0.00000000 0.00000000 0.60299942 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1.57604206 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 1.57604167 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 2.07604233 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.27087619 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.27087619 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.27087710 0.00000000 1000.00000000
(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 10,688,374.89 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 421.82 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 10,688,796.71 Withdrawals Reimbursement for Servicer Advances 1,022.65 Payment of Service Fee 188,496.86 Payment of Interest and Principal 10,499,277.20 ------------- Total Withdrawals (Pool Distribution Amount) 10,688,796.71 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 188,496.86 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 188,496.86 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - --------------------------------- --------- ----------- -------- --------- Class X-A Basis Risk Reserve Fund 8,000.00 0.00 0.00 8,000.00 Class X-B Basis Risk Reserve Fund 2,000.00 0.00 0.00 2,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE - ----------------------------------- ------------------------------- --------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance ------ --------- ------- --------- -------- ---------- 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 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 1 202,471.80 150 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 1 202,471.80 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 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 0.041615% 0.022589% 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% 0.041615% 0.022589% REO TOTAL - ------------------------------------ ---------------------------------------- No. of Principal No.of Principal Loans Balance Loans Balance ------ ---------- ----- ---------- 0-29 Days 0 0.00 0-29 Days 0 0.00 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 1 202,471.80 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 ---- ---- ---- ---------- 0 0.00 1 202,471.80 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 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% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.041615% 0.022589% 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% 0.041615% 0.022589%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 421.82
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
Original $ Original% Current $ Current% Current Class% Prepayment% ---------------- ----------- -------------- ------------ ------------- ------------ Class A 1,050,010,162.00 99.99999048% 896,340,296.73 100.00000000% 96.191718% 0.000000% Class 1A 227,635,162.00 21.67932736% 198,180,025.71 22.10990920% 77.890091% 2,045.281845% Class 2-A-1 37,635,162.00 3.58426611% 37,635,162.00 4.19875823% 17.911151% 470.321083% Class 2-A-2 34,135,162.00 3.25093604% 34,135,162.00 3.80828153% 0.390477% 10.253357% Class X-1-A 34,135,162.00 3.25093604% 34,136,162.00 3.80828153% 0.000000% 0.000000% Class X-1-B 34,135,162.00 3.25093604% 34,13,5162.00 3.80828153% 0.000000% 0.000000% Class X-2 34,135,162.00 3.25093604% 34,135,162.00 3.80828153% 0.000000% 0.000000% Class B-1 21,535,162.00 2.05094776% 21,535,162.00 2.40256542% 1.405716% 36.912085% Class B-2 13,135,162.00 1.25095558% 13,135,162.00 1.46542134% 0.937144% 24.608057% Class B-3 8,410,162.00 0.80095998% 8,410,162.00 0.93827780% 0.527144% 13.842032% Class B-4 5,785,162.00 0.55096242% 5,785,162.00 0.64542027% 0.292858% 7.690018% Class B-5 3,685,162.00 0.35096438% 3,685,162.00 0.41113425% 0.234286% 6.152014% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.411134% 10.795795%
Please refer to the prospectus supplement for a full description of loss exposure
Original $ Original% Current $ Current% Bankruptcy 163,046.00 0.01552804% 163,046.00 0.01819019% Fraud 31,500,308.00 3.00000001% 18,795,490.62 2.09691461% Special Hazard 11,240,000.00 1.07046573% 10,511,415.24 1.17270363%
Limit of subordinate's exposure to certain types of losses DELINQUENCY STATUS BY GROUP GROUP 1
DELINQUENT BANKRUPTCY FORECLOSURE - ---------------------------------- -------------------------------- ----------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 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 1 202,471.80 150 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 1 202,471.80 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 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 0.052687% 0.027897% 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% 0.052687% 0.027897%
REO TOTAL - ---------------------------------- ----------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 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 1 202,471.80 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+Days 0 0.00 -------- -------- -------- ---------- 0 0.00 1 202,471.80 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 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% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.052687% 0.027897% 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% 0.052687% 0.027897%
GROUP 2
DELINQUENT BANKRUPTCY FORECLOSURE - ------------------------------------- --------------------------------- --------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 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 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 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 0-29 Days 0 0.00 0-29 Days 0 0.00 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 0-29 Days 0.000000% 0.000000% 0-29 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% 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%
COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 2.974992% Weighted Average Net Coupon 2.724992% Weighted Average Pass-Through Rate 2.724992% Weighted Average Maturity (Stepdown Calculation) 281 Beginning Scheduled Collateral Loan Count 2,428 Number of Loans Paid in Full 25 Ending Scheduled Collateral Loan Count 2,403 Beginning Scheduled Collateral Balance 904,784,963.75 Ending Scheduled Collateral Balance 896,340,296.72 Ending Actual Collateral Balance at Feb-27-2004 896,340,298.27 Monthly P&I Constant 2,243,107.03 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 10,421,760.41 Ending Scheduled Balance for Premium Loans 896,340.296.72 Scheduled Principal 0.00 Unscheduled Principal 8,444,667.02
GROUP 1 2 TOTAL Collateral Description Mixed ARM 6 Month ARM Mixed ARM Weighted Average Coupon Rate 2.961759 3.031540 2.974992 Weighted Average Net Rate 2.711759 2.781540 2.724992 Pass-Through Rate 2.711759 2.781540 2.724992 Weighted Average Maturity 281 281 281 Record Date 02/27/2004 02/27/2004 02/27/2004 Principal and Interest Constant 1,809,634.04 433,472.99 2,243,107.03 Beginning Loan Count 1,920 508 2,428 Loans Paid in Full 22 3 25 Ending Loan Count 1,898 505 2,403 Beginning Scheduled Balance 733,199,683.23 171,585,280.52 904,784,963.75 Ending Scheduled Balance 725,792,268.01 170,548,028.71 896,340,296.72 Scheduled Principal 0.01 0.00 0.01 Unscheduled Principal 7,407,415.21 1,037,251.81 8,444,667.02 Scheduled Interest 1,809,634.03 433,472.99 2,243,107.02 Servicing Fee 152,749.93 35,746.93 188,496.86 Master Servicing Fee 0.00 0.00 0.00 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 1,656,884.10 397,726.06 2,054,610.16 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
MISCELLANEOUS REPORTING Group 1 One Month LIBOR Loans 341,587,122.34 Six Month LIBOR Loans 384,205,145.67 Pro Rata Senior Percentage 96.231314% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Group 2 Pro Rata Senior Percentage 96.209952% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%
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