-----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, DrhdbhqeQraCiIkRn1IUtq9UD+j8v38WhX/bKP9oPwDvdyrYpLpMa8jQgNSgk2Bh 6zmwd6K0v/2MEwlu6+sp3Q== 0000950149-03-001573.txt : 20030707 0000950149-03-001573.hdr.sgml : 20030704 20030707151739 ACCESSION NUMBER: 0000950149-03-001573 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 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: 03776924 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 f91335fe8vk.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 RESIDENTIAL FUNDING, INC.

(as Depositor of Sequoia Mortgage Trust 11 the Issuer of Mortgage Pass-Through
Certificates under a Pooling and Servicing Agreement dated as of October 1, 2002)

SEQUOIA RESIDENTIAL FUNDING, INC.

(Exact Name of Registrant as Specified in Its Charter)
         
Delaware   333-90772   35-2170972
 
 
(State or Other Jurisdiction of Incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)

591 Redwood Highway, Suite 3160, 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 Residential Funding, Inc. has previously registered the offer and sale of Mortgage Pass-Through Certificates issued by Sequoia Mortgage Trust 11 (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, 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 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, June 20, 2003     5  

  EX-10.1 3 f91335fexv10w1.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 2002-11 RECORD DATE: MAY 30, 2003 DISTRIBUTION DATE: JUNE 20, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
- ------------------------------------------------------------------------------------------ Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution - ------------------------------------------------------------------------------------------ A 81744AAA6 SEN 1.76813% 666,069,390.81 981,414.39 9,509,421.17 X-1A 81744AAC2 IO 0.84560% 0.00 131,907.74 0.00 X-1B 81744AAD0 IO 1.08131% 0.00 431,510.56 0.00 X-B 81744AAE8 IO 0.49506% 0.00 4,012.48 0.00 A-R 81744AAF5 SEN 3.25507% 0.00 0.00 0.00 B-1 81744AAB4 SUB 2.28813% 9,726,000.00 18,545.29 0.00 B-2 81744AAG3 SUB 2.78319% 5,764,000.00 13,368.60 0.00 B-3 81744AAH1 SUB 2.78319% 3,962,000.00 9,189.17 0.00 B-4 SMT0211B4 SUB 2.78319% 1,801,000.00 4,177.11 0.00 B-5 SMT0211B5 SUB 2.78319% 1,080,000.00 2,504.87 0.00 B-6 SMT0211B6 SUB 2.78319% 2,882,787.00 6,868.13 0.00 - ------------------------------------------------------------------------------------------ Totals 691,285,177.81 1,603,316.34 9,509,421.17 - ------------------------------------------------------------------------------------------ - --------------------------------------------------------------------- Ending Current Certificate Total Cumulative Class Realized Loss Balance Distribution Realized Loss - --------------------------------------------------------------------- A 0.00 656,559,969.64 10,490,835.56 0.00 X-1A 0.00 0.00 131,907.74 0.00 X-1B 0.00 0.00 431,510.56 0.00 X-B 0.00 0.00 4,012.48 0.00 A-R 0.00 0.00 0.00 0.00 B-1 0.00 9,726,000.00 18,545.29 0.00 B-2 0.00 5,764,000.00 13,368.60 0.00 B-3 0.00 3,962,000.00 9,189.17 0.00 B-4 0.00 1,801,000.00 4,177.11 0.00 B-5 0.00 1,080,000.00 2,504.87 0.00 B-6 0.00 2,882,787.00 6,686.13 0.00 - --------------------------------------------------------------------- Totals 0.00 681,775,756.64 11,112,737.51 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 Class Amount Balance Distribution Distribution Accretion - -------------------------------------------------------------------------------------------------- A 695,210,000.00 666,069,390.81 0.00 9,509,421.17 0.00 X-1A 0.00 0.00 0.00 0.00 0.00 X-1B 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 B-1 9,726,000.00 9,726,000.00 0.00 0.00 0.00 B-2 5,726,000.00 5,764,000.00 0.00 0.00 0.00 B-3 3,962,000.00 3,962,000.00 0.00 0.00 0.00 B-4 1,801,000.00 1,801,000.00 0.00 0.00 0.00 B-5 1,080,000.00 1,080,000.00 0.00 0.00 0.00 B-6 2,882,787.00 2,882,787.00 0.00 0.00 0.00 ---------------------------------------------------------------------------------- Totals 720,425,887.00 691,285,177.81 0.00 9,509,421.17 0.00 - ------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------- Realized Total Principal Ending Certificate Ending Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - -------------------------------------------------------------------------------------------------------- A 0.00 9,509,421.17 656,559,969.64 0.94440524 9,509,421.17 X-1A 0.00 0.00 0.00 0.00000000 0.00 X-1B 0.00 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 9,726,000.00 1.00000000 0.00 B-2 0.00 0.00 5,764,000.00 1.00000000 0.00 B-3 0.00 0.00 3,962,000.00 1.00000000 0.00 B-4 0.00 0.00 1,801,000.00 1.00000000 0.00 B-5 0.00 0.00 1,080,000.00 1.00000000 0.00 B-6 0.00 0.00 2,882,787.00 1.00000000 0.00 ------------------------------------------------------------------------------------------ Totals 0.00 9,509,421.17 681,775,756.64 0.94635100 9,509,421.17 - ------------------------------------------------------------------------------------------------------
(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 Class Amount Balance Distribution Distribution Accretion - -------------------------------------------------------------------------------------------- A 695,210,000.00 958.08373126 0.00000000 13.67848732 0.00000000 X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,726,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 5,764,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 3,962,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 1,801,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,080,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 2,882,787.00 1000.00000000 0.00000000 0.00000000 0.00000000 - --------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------- Ending Realized Total Principal Certificate Ending Certificate Total Principal Class Loss (3) Reduction Balance Percentage Distribution - ------------------------------------------------------------------------------------------------- A 0.00000000 13.67848732 944.40524394 0.94440524 13.67848732 X-1A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 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. INTEREST DISTRIBUTION STATEMENT
- ------------------------------------------------------------------------------------------------ Beginning Payment of Certificate/ Current Unpaid Original Face Current Notional Accrued Interest Class Amount Certificate Rate Balance Interest Shortfall - ------------------------------------------------------------------------------------------------ A 695,210,000.00 1.76813% 666,069,390.81 981,414.39 0.00 X-1A 0.00 0.84560% 187,192,305.18 131,907.74 0.00 X-1B 0.00 1.08131% 478,877,085.63 431,510.56 0.00 X-B 0.00 0.49506% 9,726,000.00 4,012.48 0.00 A-R 100.00 3.25507% 0.00 0.00 0.00 B-1 9,726,000.00 2.28813% 9,726,000.00 18,545.29 0.00 B-2 5,764,000.00 2.78319% 5,764,000.00 13,368.60 0.00 B-3 3,962,000.00 2.78319% 3,962,000.00 9,189.17 0.00 B-4 1,801,000.00 2.78319% 1,801,000.00 4,177.11 0.00 B-5 1,080,000.00 2.78319% 1,080,000.00 2,504.87 0.00 B-6 2,882,787.00 2.78319% 2,882,787.00 6,686.13 0.00 - ------------------------------------------------------------------------------------------------ Totals 720,425,887.00 1,603,316.34 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 0.00 981,414.39 0.00 656,559,969.64 X-1A 0.00 0.00 0.00 131,907.74 0.00 185,587,909.79 X-1B 0.00 0.00 0.00 431,510.56 0.00 470,972,059.85 X-B 0.00 0.00 0.00 4,012.48 0.00 9,726,000.00 A-R 0.00 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 0.00 18,545.29 0.00 9,726,000.00 B-2 0.00 0.00 0.00 13,368.60 0.00 5,764,000.00 B-3 0.00 0.00 0.00 9,189.17 0.00 3,962,000.00 B-4 0.00 0.00 0.00 4,177.11 0.00 1,801,000.00 B-5 0.00 0.00 0.00 2,504.87 0.00 1,080,000.00 B-6 0.00 0.00 0.00 6,686.13 0.00 2,882,787.00 - ----------------------------------------------------------------------------------------------- Totals 0.00 0.00 0.00 1,603,316.34 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 Class Original Face Certificate Certificate/ Current Accrued Interest (5) Amount Rate Notional Balance Interest Shortfall - ----------------------------------------------------------------------------------------- A 695,210,000.00 1.76813% 958.08373126 1.41168049 0.00000000 X-1A 0.00 0.84560% 976.17307960 0.68787435 0.00000000 X-1B 0.00 1.08131% 951.19376602 0.85710962 0.00000000 X-B 0.00 0.49506% 1000.00000000 0.41255192 0.00000000 A-R 100.00 3.25507% 0.00000000 0.00000000 0.00000000 B-1 9,726,000.00 2.28813% 1000.00000000 1.90677462 0.00000000 B-2 5,726,000.00 2.78319% 1000.00000000 2.31932686 0.00000000 B-3 3,962,000.00 2.78319% 1000.00000000 2.31932610 0.00000000 B-4 1,801,000.00 2.78319% 1000.00000000 2.31932815 0.00000000 B-5 1,080,000.00 2.78319% 1000.00000000 2.31932407 0.00000000 B-6 2,882,787.00 2.78319% 1000.00000000 2.31932848 0.00000000 - -----------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------- Non- Remaining Current Supported Unpaid Class Interest Interest Realized Total Interest Interest Ending Certificate/ (5) Shortfall Shortfall Loss (6) Distribution Shortfall Notational Balance - ------------------------------------------------------------------------------------------------------------- A 0.00000000 0.00000000 0.00000000 1.41168049 0.00000000 944.40524394 X-1A 0.00000000 0.00000000 0.00000000 0.68787435 0.00000000 967.80645584 X-1B 0.00000000 0.00000000 0.00000000 0.85710962 0.00000000 935.49200983 X-B 0.00000000 0.00000000 0.00000000 0.41255192 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 0.00000000 1.90677462 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 0.00000000 2.31932686 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 0.00000000 2.31932610 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 0.00000000 2.31932815 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 0.00000000 2.31932407 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 0.00000000 2.31932848 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 11,328,400.86 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1,985.13 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 11,330,385.99 Withdrawals Reimbursement for Servicer Advances 4,867.06 Payment of Service Fee 212,781.41 Payment of Interest and Principal 11,112,737.52 ------------- Total Withdrawals (Pool Distribution Amount) 11,330,385.99 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 208,748.92 Master Servicing Fee 4,032.49 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 212,781.41 ==========
- ----------------------------------------------------------------------------------------------------- Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ ------- ----------- -------- ------- Class X-1 Basis Risk Reserve Fund 5,000.00 0.00 0.00 5,000.00 Class X-B Basis Risk Reserve Fund 5,000.00 0.00 0.00 5,000.00 - -----------------------------------------------------------------------------------------------------
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
- ------------------------------------------------------------------------------------------------------------------------------------ DELINQUENT BANKRUPTCY FORECLOSURE REO - ------------------------------------------------------------------------------------------------------------------------------------ No. of Principal No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 2 684,707.14 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 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 1 123,750.00 120 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 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 --------------------- ------------------- ------------------- --------- -------- 3 808,457.14 0 0.00 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal No. of Principal Loans Balance 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% 0-29 Days 0.000000% 0.000000% 30 Days 0.102775% 0.100431% 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% 60 Days 0.000000% 0.000000% 90 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 0.051387% 0.018151% 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% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% ------------------- ------------------- ------------------- --------- --------- 0.154162% 0.118582% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% - ----------------------------------------------------------------------------------------------------------------------------------
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance
- ---------------------------------- TOTAL - ---------------------------------- No. of Principal Loans Balance 0-29 Days 0 0.00 30 Days 2 684,707.14 60 Days 0 0.00 90 Days 0 0.00 120 Days 1 123,750.00 150 Days 0 0.00 180+ Days 0 0.00 ----------------------- 3 808,457.14 No. of Principal Loans Balance 0-29 Days 0.000000% 0.000000% 30 Days 0.102775% 0.100431% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.051387% 0.018151% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% ---------------------- 0.154162% 0.118582% - --------------------------------- 1,985.13
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
- ----------------------------------------------------------------------------------------------------------------- Original $ Original % Current $ Current % Current Class % Prepayment % --------- ---------- --------- --------- --------------- ------------ Class A 25,215,787.00 3.50012228% 25,215,787.00 3.69854556% 96.301454% 0.000000% Class B-1 15,489,787.00 2.15008751% 15,489,787.00 2.27197680% 1.426569% 38.571075% Class B-2 9,725,787.00 1.35000521% 9,725,787.00 1.42653752% 0.845439% 22.858696% Class B-3 5,763,787.00 0.80005273% 5,763,787.00 0.84540803% 0.581129% 15.712379% Class B-4 3,962,787.00 0.55006172% 3,962,787.00 0.58124493% 0.264163% 7.142351% Class B-5 2,882,787.00 0.40015039% 2,882,787.00 0.42283507% 0.158410% 4.283031% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.422835% 11.432469% Please refer to the prospectus supplement for a full description of loss exposure - -----------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------ Original $ Original % Current $ Current % Bankruptcy 119,754.00 0.01662267% 119,754.00 0.01756501% Fraud 21,612,777.00 3.00000005% 21,612,777.00 3.17007121% Special Hazard 11,600,000.00 1.61015869% 11,600,000.00 1.70143920% Limit of subordinate's exposure to certain types of losses - ------------------------------------------------------------------------------------------
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.152559% Weighted Average Net Coupon 2.790192% Weighted Average Pass-Through Rate 2.783192% Weighted Average Maturity (Stepdown Calculation) 319 Beginning Scheduled Collateral Loan Count 1,969 Number of Loans Paid in Full 23 Ending Scheduled Collateral Loan Count 1,946 Beginning Scheduled Collateral Balance 681,285,177.81 Ending Scheduled Collateral Balance 681,775,756.64 Ending Actual Collateral Balance at 30-May-2003 681,771,323.87 Monthly P&I Constant 1,816,097.75 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 10,490,835.56 Ending Scheduled Balance for Premium Loans 681,775,756.64 Scheduled Principal 0.00 Unscheduled Principal 9,509,421.17
MISCELLANEOUS REPORTING Pro Rata Senior Percentage 96.352332% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% One Month LIBOR Loan Balance 192,715,583.45 Six Month LIBOR Loan Balance 489,060,173.19
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