-----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, OfaVRzkaP+OBwVuozzMavZYXuAOF8YShF88fHx49VKfG7P9az8hBvGufTwtDekJQ dQZZA029G2pPDomABc/msg== 0000950134-04-004693.txt : 20040405 0000950134-04-004693.hdr.sgml : 20040405 20040405165658 ACCESSION NUMBER: 0000950134-04-004693 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: 04718137 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 f97888he8vk.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 2003-3, the Issuer of Mortgage Pass-Through Certificates under a Pooling and Servicing Agreement dated as of June 1, 2003) SEQUOIA RESIDENTIAL FUNDING, INC. --------------------------------- (Exact Name of Registrant as Specified in Its Charter) Delaware 333-103634 35-2170972 -------- ---------- ---------- (State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer 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 3160, 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 2003-3 (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 f97888hexv10w1.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 2003-3 RECORD DATE: FEBRUARY 27, 2004 DISTRIBUTION DATE: MARCH 22, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Current Class CUSIP Description Rate Balance Distribution Distribution Realized Loss - ------------------------------------------------------------------------------------------------------------------------------- A-1 81743PAT3 SEN 1.42125% 350,600,044.96 415,241.93 5,047,659.73 0.00 A-2 81743PAU0 SEN 1.57000% 138,891,570.48 181,716.47 1,024,382.57 0.00 X-1A 81743PAV8 IO 0.96042% 0.00 77,234.15 0.00 0.00 X-1B 81743PAW6 IO 1.22769% 0.00 259,962.66 0.00 0.00 X-2 81743PAX4 IO 1.06981% 0.00 123,823.28 0.00 0.00 X-B 81743PAY2 IO 0.85238% 0.00 6,446.09 0.00 0.00 A-R 81743PBA3 R 2.42091% 0.00 0.00 0.00 0.00 B-1 81743PBB1 SUB 1.74125% 9,075,000.00 13,168.20 0.00 0.00 B-2 81743PBC9 SUB 2.59363% 4,675,000.00 10,104.33 0.00 0.00 B-3 81743PBD7 SUB 2.59363% 2,475,000.00 5,349.35 0.00 0.00 B-4 81743PBE5 SUB 2.59363% 1,650,000.00 3,566.23 0.00 0.00 B-5 81743PBF2 SUB 2.59363% 825,000.00 1,783.12 0.00 0.00 B-6 81743PBG0 SUB 2.59363% 1,925,608.17 4,161.92 0.00 0.00 - -------------------------------------------------------------------------------------------------------------------------- Totals 510,117,223.61 1,102,557.73 6,072,042.30 0.00 - -------------------------------------------------------------------------------------------------------------------------- Ending Certificate Total Cumulative Class CUSIP Balance Distribution Realized Loss ----- ----- ------- ------------ ------------- A-1 81743PAT3 345,552,385.23 5,462,901.66 0.00 A-2 81743PAU0 137,867,187.91 1,206,099.04 0.00 X-1A 81743PAV8 0.00 77,234.15 0.00 X-1B 81743PAW6 0.00 259,962.66 0.00 X-2 81743PAX4 0.00 123,823.28 0.00 X-B 81743PAY2 0.00 6,446.09 0.00 A-R 81743PBA3 0.00 0.00 0.00 B-1 81743PBB1 9,075,000.00 13,168.20 0.00 B-2 81743PBC9 4,675,000.00 10,104.33 0.00 B-3 81743PBD7 2,475,000.00 5,349.35 0.00 B-4 81743PBE5 1,650,000.00 3,566.23 0.00 B-5 81743PBF2 825,000.00 1,783.12 0.00 B-6 81743PBG0 1,925,608.17 4,161.92 0.00 - ------------------------------------------------------------------------- Totals 504,045,181.31 7,174,600.03 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 Total Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction - -------------------------------------------------------------------------------------------------------------------------- A-1 379,455,000.00 350,600,044.96 209.83 5,047,449.90 0.00 0.00 5,047,659.73 A-2 149,922,000.00 138,891,570.48 88.02 1,024,294.55 0.00 0.00 1,024,382.57 X-1A 0.00 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 0.00 X-2 0.00 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 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 9,075,000.00 9,075,000.00 0.00 0.00 0.00 0.00 0.00 B-2 4,675,000.00 4,675,000.00 0.00 0.00 0.00 0.00 0.00 B-3 2,475,000.00 2,475,000.00 0.00 0.00 0.00 0.00 0.00 B-4 1,650,000.00 1,650,000.00 0.00 0.00 0.00 0.00 0.00 B-5 825,000.00 825,000.00 0.00 0.00 0.00 0.00 0.00 B-6 1,925,608.17 1,925,608.17 0.00 0.00 0.00 0.00 0.00 - -------------------------------------------------------------------------------------------------------------------------- Totals 550,002,708.17 510,117,223.61 297.85 6,071,744.45 0.00 0.00 6,072,042.30 - -------------------------------------------------------------------------------------------------------------------------- Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution - ------------------------------------------------------------------- A-1 345,552,385.23 0.91065445 5,047,659.73 A-2 137,867,187.91 0.91959277 1,024,382.57 X-1A 0.00 0.00000000 0.00 X-1B 0.00 0.00000000 0.00 X-2 0.00 0.00000000 0.00 X-B 0.00 0.00000000 0.00 A-R 0.00 0.00000000 0.00 B-1 9,075,000.00 1.00000000 0.00 B-2 4,675,000.00 1.00000000 0.00 B-3 2,475,000.00 1.00000000 0.00 B-4 1,650,000.00 1.00000000 0.00 B-5 825,000.00 1.00000000 0.00 B-6 1,925,608.17 1.00000000 0.00 - ------------------------------------------------------------------- Totals 504,045,181.31 0.91644127 6,072,042.30 - -------------------------------------------------------------------
(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 Original Face Certificate Principal Principal Realized Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction - ------------------------------------------------------------------------------------------------------------------------ A-1 379,455,000.00 923.95684590 0.00055298 13.30184053 0.00000000 0.00000000 13.30239351 A-2 149,922,000.00 926.42554448 0.00058711 6.83218307 0.00000000 0.00000000 6.83277017 X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,075,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 4,675,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 2,475,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,650,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 825,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 1,925,608.17 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 - ------------------------------------------------------------------------------------------------------------------------ Ending Ending Certificate Certificate Total Principal Class Balance Percentage Distribution - -------------------------------------------------------------------- A-1 910.65445239 0.91065445 13.30239351 A-2 919.59277431 0.91959277 6.83277017 X-1A 0.00000000 0.00000000 0.00000000 X-1B 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 B-1 1000.00000000 1.00000000 0.00000000 B-2 1000.00000000 1.00000000 0.00000000 B-3 1000.00000000 1.00000000 0.00000000 B-4 1000.00000000 1.00000000 0.00000000 B-5 1000.00000000 1.00000000 0.00000000 B-6 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. INTEREST DISTRIBUTION STATEMENT
Beginning Payment of Non- Current Certificate/ Current Unpaid Current Supported Original Face Certificate Notional Accrued Interest Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall Shortfall - ------------------------------------------------------------------------------------------------------------------------ A-1 379,455,000.00 1.42125% 350,600,044.96 415,241.93 0.00 0.00 0.00 A-2 149,922,000.00 1.57000% 138,891,570.48 181,716.47 0.00 0.00 0.00 X-1A 0.00 0.96042% 96,500,415.41 77,234.15 0.00 0.00 0.00 X-1B 0.00 1.22769% 254,099,629.55 259,962.66 0.00 0.00 0.00 X-2 0.00 1.06981% 138,891,570.48 123,823.28 0.00 0.00 0.00 X-B 0.00 0.85238% 9,075,000.00 6,446.09 0.00 0.00 0.00 A-R 100.00 2.42091% 0.00 0.00 0.00 0.00 0.00 B-1 9,075,000.00 1.74125% 9,075,000.00 13,168.20 0.00 0.00 0.00 B-2 4,675,000.00 2.59363% 4,675,000.00 10,104.33 0.00 0.00 0.00 B-3 2,475,000.00 2.59363% 2,475,000.00 5,349.35 0.00 0.00 0.00 B-4 1,650,000.00 2.59363% 1,650,000.00 3,566.23 0.00 0.00 0.00 B-5 825,000.00 2.59363% 825,000.00 1,783.12 0.00 0.00 0.00 B-6 1,925,608.17 2.59363% 1,925,608.17 4,161.92 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------------------------ Totals 550,002,708.17 1,102,557.73 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------------------------ Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance - -------------------------------------------------------------------------- A-1 0.00 415,241.93 0.00 345,552,385.23 A-2 0.00 181,716.47 0.00 137,867,187.91 X-1A 0.00 77,234.15 0.00 94,403,720.57 X-1B 0.00 259,962.66 0.00 251,148,664.66 X-2 0.00 123,823.28 0.00 137,867,187.91 X-B 0.00 6,446.09 0.00 9,075,000.00 A-R 0.00 0.00 0.00 0.00 B-1 0.00 13,168.20 0.00 9,075,000.00 B-2 0.00 10,104.33 0.00 4,675,000.00 B-3 0.00 5,349.35 0.00 2,475,000.00 B-4 0.00 3,566.23 0.00 1,650,000.00 B-5 0.00 1,783.12 0.00 825,000.00 B-6 0.00 4,161.92 0.00 1,925,608.17 - -------------------------------------------------------------------------- Totals 0.00 1,102,557.73 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 Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall - --------------------------------------------------------------------------------------------------------------------- A-1 379,455,000.00 1.42125% 923.95684590 1.09431139 0.00000000 0.00000000 0.00000000 A-2 149,922,000.00 1.57000% 926.42554448 1.21207341 0.00000000 0.00000000 0.00000000 X-1A 0.00 0.96042% 957.04521165 0.76597156 0.00000000 0.00000000 0.00000000 X-1B 0.00 1.22769% 911.98242599 0.93302528 0.00000000 0.00000000 0.00000000 X-2 0.00 1.06981% 926.42554448 0.82591801 0.00000000 0.00000000 0.00000000 X-B 0.00 0.85238% 1000.00000000 0.71031295 0.00000000 0.00000000 0.00000000 A-R 100.00 2.42091% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,075,000.00 1.74125% 1000.00000000 1.45104132 0.00000000 0.00000000 0.00000000 B-2 4,675,000.00 2.59363% 1000.00000000 2.16135401 0.00000000 0.00000000 0.00000000 B-3 2,475,000.00 2.59363% 1000.00000000 2.16135354 0.00000000 0.00000000 0.00000000 B-4 1,650,000.00 2.59363% 1000.00000000 2.16135152 0.00000000 0.00000000 0.00000000 B-5 825,000.00 2.59363% 1000.00000000 2.16135758 0.00000000 0.00000000 0.00000000 B-6 1,925,608.17 2.59363% 1000.00000000 2.16135352 0.00000000 0.00000000 0.00000000 - --------------------------------------------------------------------------------------------------------------------- Remaining Unpaid Realized Total Interest Interest Ending Certificate/ Class (5) Loss (6) Distribution Shortfall Notational Balance - -------------------------------------------------------------------------------- A-1 0.00000000 1.09431139 0.00000000 910.65445239 A-2 0.00000000 1.21207341 0.00000000 919.59277431 X-1A 0.00000000 0.76597156 0.00000000 936.25118970 X-1B 0.00000000 0.93302528 0.00000000 901.39119402 X-2 0.00000000 0.82591801 0.00000000 919.59277431 X-B 0.00000000 0.71031295 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1.45104132 0.00000000 1000.00000000 B-2 0.00000000 2.16135401 0.00000000 1000.00000000 B-3 0.00000000 2.16135354 0.00000000 1000.00000000 B-4 0.00000000 2.16135152 0.00000000 1000.00000000 B-5 0.00000000 2.16135758 0.00000000 1000.00000000 B-6 0.00000000 2.16135352 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 7,332,661.26 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 11,190.70 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 7,343,851.96 Withdrawals Reimbursement for Servicer Advances 5,266.76 Payment of Service Fee 163,985.15 Payment of Interest and Principal 7,174,600.05 ------------ Total Withdrawals (Pool Distribution Amount) 7,343,851.96 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 159,734.18 Master Servicing Fee 4,250.97 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 163,985.15 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------------------------------------------------------------------------------------ Reserve Fund 5,000.00 0.00 0.00 5,000.00 Reserve Fund 2,500.00 0.00 0.00 2,500.00 Reserve Fund 2,500.00 0.00 0.00 2,500.00
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 15 4,538,756.96 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 239,960.78 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 1 332,848.86 120 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 ----------------------- ---------------------- ----------------- 17 5,111,566.60 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 1.001335% 0.900465% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.066756% 0.047607% 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 0.66756% 0.066035% 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% --------------------------- --------------------------- ---------------------- 1.134846% 1.014107% 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 15 4,538,756.96 60 Days 0 0.00 60 Days 1 239,960.78 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 1 332,848.86 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 ----------------------- ---------------------- 0 0.00 17 5,111,566.60 ----------------------- ---------------------- 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 1.001335% 0.900465% 60 Days 0.000000% 0.000000% 60 Days 0.066756% 0.047607% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.066756% 0.066035% 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% 1.134846% 1.014107% --------------------------- --------------------------
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 11,190.70
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
Original $ Original % Current $ Current % Current Class % Prepayment % ---------- ---------- --------- --------- --------------- ------------ Class A 20,625,608.17 3.75009211% 20,625,608.17 4.09201574% 95.907984% 0.000000% Class X-1-A 20,625,608.17 3.75009211% 20,625,608.17 4.09201574% 0.000000% 0.000000% Class X-1-B 20,625,608.17 3.75009211% 20,625,608.17 4.09201574% 0.000000% 0.000000% Class X-2 20,625,608.17 3.75009211% 20,625,608.17 4.09201574% 0.000000% 0.000000% Class B-1 11,550,608.17 2.10010024% 11,550,608.17 2.29158191% 1.800434% 43.998703% Class B-2 6,875,608.17 1.25010442% 6,875,608.17 1.36408569% 0.927496% 22.665998% Class B-3 4,400,608.17 0.80010664% 4,400,608.17 0.87305828% 0.491027% 11.999646% Class B-4 2,750,608.17 0.50010811% 2,750,608.17 0.54570667% 0.327352% 7.999764% Class B-5 1,925,608.17 0.35010885% 1,925,608.00 0.38203087% 0.163676% 3.999882% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.382031% 9.336007%
Please refer to the prospectus supplement for a full description of loss exposure 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 11 3,078,540.24 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 1 332,848.86 120 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 ------------------------ ---------------------- ----------------------- 12 3,411,389.10 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 1.036758% 0.854351% 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 0.094251% 0.092372% 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% ------------------------ ---------------------- ----------------------- 1.131008% 0.946722% 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 11 3,078,540.24 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 1 332,848.86 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 --------------------- -------------------------- 0 0.00 12 3,411,389.10 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 1.036758% 0.854351% 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 0.094251% 0.092372% 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% 1.131008% 0.946722%
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 4 1,460,216.72 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 239,960.78 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 ------------------------ ---------------------- ----------------------- 5 1,700,177.50 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 0.915332% 1.016091% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.228833% 0.166977% 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% ------------------------ ---------------------- ----------------------- 1.144165% 1.183068% 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 4 1,460,216.72 60 Days 0 0.00 60 Days 1 239,960.78 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 5 1,700,177.50 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 0.915332% 1.016091% 60 Days 0.000000% 0.000000% 60 Days 0.228833% 0.166977% 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% 1.144165% 1.183068%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 2.979416% Weighted Average Net Coupon 2.603657% Weighted Average Pass-Through Rate 2.593657% Weighted Average Maturity (Stepdown Calculation) 349 Beginning Scheduled Collateral Loan Count 1,510 Number of Loans Paid in Full 12 Ending Scheduled Collateral Loan Count 1,498 Beginning Scheduled Collateral Balance 510,117,223.61 Ending Scheduled Collateral Balance 504,045,181.31 Ending Actual Collateral Balance at 27-Feb-2004 504,046,105.73 Monthly P&I Constant 1,266,840.75 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 7,130,020.79 Ending Scheduled Balance for Premium Loans 504,045,181.31 Scheduled Principal 297.85 Unscheduled Principal 6,071,744.45
MISCELLANEOUS REPORTING Group 1 One Month Libor Loan Balance 98,442,628.33 Group 1 Six Month Libor Loan Balance 261,893,646.77 Group 2 Six Month Libor Loan Balance 143,708,906.21 Pro-Rata Senior Percent 95.956692% Group 1 Senior Percent 100.000000% Group 2 Senior Percent 100.000000% Group 1 Senior Prepayment Percent 100.000000% Group 2 Senior Prepayment Percent 100.000000%
GROUP 1 2 TOTAL Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 2.961434 3.024812 2.979416 Weighted Average Net Rate 2.585375 2.649812 2.603657 Pass-Through Rate 2.575375 2.639812 2.593657 Weighted Average Maturity 324 328 349 Record Date 02/27/2004 02/27/2004 02/27/2004 Principal and Interest Constant 901,926.85 364,913.90 1,266,840.75 Beginning Loan Count 1,071 439 1,510 Loans Paid in Full 10 2 12 Ending Loan Count 1,061 437 1,498 Beginning Scheduled Balance 365,383,934.83 144,733,288.78 510,117,223.61 Ending Scheduled Balance 360,336,275.10 143,708,906.21 504,045,181.31 Scheduled Principal 209.83 88.02 297.85 Unscheduled Principal 5,047,449.90 1,024,294.55 6,071,744.45 Scheduled Interest 901,717.02 364,825.88 1,266,542.90 Servicing Fee 114,505.02 364,825.88 1,266,542.90 Master Servicing Fee 3,044.86 1,206.11 4,250.97 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 784,167.14 318,390.61 1,102,557.75 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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