-----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, SSsaJAh3vQ8BVE1Nv+MD/7cu0VNf3+ckH0Ka/0ZKCLt4OoYe8QuR90ip6TvbrNql unVYSXksP1v5hDCnekz3GA== 0000950149-03-001965.txt : 20030815 0000950149-03-001965.hdr.sgml : 20030815 20030815171204 ACCESSION NUMBER: 0000950149-03-001965 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030721 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030815 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: 03851308 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 f92527ce8vk.htm 8-K e8vk
Table of Contents

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

July 21, 2003
Date of Report (Date of Earliest Event Reported)

SEQUOIA RESIDENTIAL FUNDING, INC.
(as Depositor of Sequoia Mortgage Trust 9, the Issuer of Mortgage
Pass-Through Certificates under a Pooling and Servicing Agreement
dated as of August 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)

 

Item 5. Other Events
Item 7(c). Exhibits
SIGNATURE
EXHIBIT INDEX
Exhibit 10.1

Table of Contents

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 9 (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, July 21, 2003.

 

Table of Contents

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: August 15, 2003        
         
    SEQUOIA RESIDENTIAL FUNDING, INC.
         
    By:   /s/ Harold F. Zagunis
       
        Harold F. Zagunis
Chief Financial Officer, Treasurer
and Secretary

 

Table of Contents

EXHIBIT INDEX

             
Exhibit Number       Page Number
     
10.1   Monthly Payment Date Statement relating to the distribution to Certificateholders, July 21, 2003     5  

  EX-10.1 3 f92527cexv10w1.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 2002-9 RECORD DATE: JUNE 30, 2003 DISTRIBUTION DATE: JULY 21, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Pass- Beginning Current Ending Class Through Certificate Interest Principal Realized Certificate Class CUSIP Description Rate Balance Distribution Distribution Loss Balance ----- ----- ----------- ---- ------- ------------ ------------ ---- ------- 1A 81743SAA8 SEN 1.45375% 361,540,619.77 437,991.40 4,696,413.78 0.00 356,844,205.99 2A 81743SAB6 SEN 2.99084% 139,105,872.60 346,702.38 911,454.20 0.00 138,194,418.40 X-1A 81743SAC4 IO 1.20174% 0.00 193,571.93 0.00 0.00 0.00 X-1B 81743SAD2 IO 1.24625% 0.00 174,752.34 0.00 0.00 0.00 X-B 81743SAE0 IO 0.91896% 0.00 5,917.44 0.00 0.00 0.00 A-R 81743SAF7 SEN 3.16138% 0.00 0.00 0.00 0.00 0.00 B-1 81743SAG5 SUB 1.85375% 7,702,000.00 11,897.99 0.00 0.00 7,702,000.00 B-2 81743SAH3 SUB 2.77271% 4,564,000.00 10,545.53 0.00 0.00 4,564,000.00 B-3 81743SAJ9 SUB 2.77271% 3,424,000.00 7,911.46 0.00 0.00 3,424,000.00 B-4 SMT0209B4 SUB 2.77271% 1,426,000.00 3,294.90 0.00 0.00 1,426,000.00 B-5 SMR0209B5 SUB 2.77271% 856,000.00 1,977.86 0.00 0.00 856,000.00 B-6 SMT0209B6 SUB 2.77271% 1,997,086.78 4,614.45 0.00 0.00 1,997,086.78 --- --------- --- ------- ------------ -------- ---- ---- ------------ Totals 520,615,579.15 1,199,177.68 5,607,867.98 0.00 515,007,711.17 -------------- ------------ ------------ ---- --------------
Cumulative Total Realized Class Distribution Loss ----- ------------ ---- 1A 5,134,405.18 0.00 2A 1,258,156.58 0.00 X-1A 193,571.93 0.00 X-1B 174,752.34 0.00 X-B 5,917.44 0.00 A-R 0.00 0.00 B-1 11,897.99 0.00 B-2 10,545.53 0.00 B-3 7,911.46 0.00 B-4 3,294.90 0.00 B-5 1,977.86 0.00 B-6 4,614.45 0.00 --- ------------ ---- Totals 6,807,045.66 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
Original Beginning Scheduled Unscheduled Total Ending Face Certificate Principal Principal Realized Principal Certificate Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction Balance ----- ------ ------- ------------ ------------ --------- -------- --------- ------- 1A 381,698,000.00 361,540,619.77 0.00 4,696,413.78 0.00 0.00 4,696,413.78 356,844,205.99 2A 168,875,000.00 139,105,872.60 0.00 911,454.20 0.00 0.00 911,454.20 138,194,418.40 X-1A 0.00 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 0.00 X-B 0.00 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 0.00 B-1 7,702,000.00 7,702,000.00 0.00 0.00 0.00 0.00 0.00 7,702,000.00 B-2 4,564,000.00 4,564,000.00 0.00 0.00 0.00 0.00 0.00 4,564,000.00 B-3 3,424,000.00 3,424,000.00 0.00 0.00 0.00 0.00 0.00 3,424,000.00 B-4 1,426,000.00 1,426,000.00 0.00 0.00 0.00 0.00 0.00 1,426,000.00 B-5 856,000.00 856,000.00 0.00 0.00 0.00 0.00 0.00 856,000.00 B-6 1,997,086.78 1,997,086.78 0.00 0.00 0.00 0.00 0.00 1,997,086.78 --- -------------- -------------- ---- ------------ ---- ---- ------------ --------------- Totals 570,533,186.78 520,615,579.15 0.00 5,607,867.98 0.00 0.00 5,607,867.98 515,007,711.17 -------------- -------------- ---- ------------ ---- ---- ------------ ---------------
Ending Total Certificate Principal Class Percentage Distribution ----- ---------- ------------ 1A 0.93490828 4,696,413.78 2A 0.81832372 911,454.20 X-1A 0.00000000 0.00 X-1B 0.00000000 0.00 X-B 0.00000000 0.00 A-R 0.00000000 0.00 B-1 1.00000000 0.00 B-2 1.00000000 0.00 B-3 1.00000000 0.00 B-4 1.00000000 0.00 B-5 1.00000000 0.00 B-6 1.00000000 0.00 ---- ---------- ------------ Totals 0.90267792 5,607,867.98 ---------- ------------
(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
Original Beginning Scheduled Unscheduled Total Ending Face Certificate Principal Principal Realized Principal Certificate Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction Balance - ----- ------ ------- ------------ ------------ --------- -------- --------- ------- 1A 381,698,000.00 947.21257298 0.00000000 12.30429428 0.00000000 0.00000000 12.30429428 934.90827870 2A 168,875,000.00 823.72093323 0.00000000 5.39721214 0.00000000 0.00000000 5.39721214 818.32372110 X-1A 0.00 0.00000000 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 0.00000000 X-B 0.00 0.00000000 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 0.00000000 B-1 7,702,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-2 4,564,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-3 3,424,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-4 1,426,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-5 856,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 B-6 1,997,086.78 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
Ending Total Certificate Principal Class Percentage Distribution - ----- ---------- ------------ 1A 0.93490828 12.30429428 2A 0.81832372 5.39721214 X-1A 0.00000000 0.00000000 X-1B 0.00000000 0.00000000 X-B 0.00000000 0.00000000 A-R 0.00000000 0.00000000 B-1 1.00000000 0.00000000 B-2 1.00000000 0.00000000 B-3 1.00000000 0.00000000 B-4 1.00000000 0.00000000 B-5 1.00000000 0.00000000 B-6 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- Original Current Certificate/ Current Unpaid Current Supported Total Face Certificate Notional Accrued Interest Interest Interest Realized Interest Class Amount Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) Distribution ----- ------ ---- ------- -------- --------- --------- --------- -------- ------------ 1A 381,698,000.00 1.45375% 361,540,619.77 437,991.40 0.00 0.00 0.00 0.00 437,991.40 2A 168,875,000.00 2.99084% 139,105,872.60 346,702.39 0.00 0.00 0.00 0.00 346,702.38 X-1A 0.00 1.20174% 193,282,052.75 193,561.81 0.00 0.00 0.00 0.00 193,571.93 X-1B 0.00 1.24625% 168,258,567.02 174,743.21 0.00 0.00 0.00 0.00 174,752.34 X-B 0.00 0.91896% 7,702,000.00 5,898.18 0.00 0.00 0.00 0.00 5,917.44 A-R 100.00 3.16138% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 7,702,000.00 1.85375% 7,702,000.00 11,897.99 0.00 0.00 0.00 0.00 11,897.99 B-2 4,564,000.00 2.77271% 4,564,000.00 10,545.53 0.00 0.00 0.00 0.00 10,545.53 B-3 3,424,000.00 2.77271% 3,424,000.00 7,911.46 0.00 0.00 0.00 0.00 7,911.46 B-4 1,426,000.00 2.77271% 1,426,000.00 3,294.90 0.00 0.00 0.00 0.00 3,294.90 B-5 856,000.00 2.77271% 856,000.00 1,977.86 0.00 0.00 0.00 0.00 1,977.86 B-6 1,997,086.78 2.77271% 1,997,086.78 4,614.45 0.00 0.00 0.00 0.00 4,614.45 --- -------------- ------- -------------- ------------ ---- ---- ---- ---- ------------ Totals 570,533,186.78 1,199,139.18 0.00 0.00 0.00 0.00 1,199,177.68 -------------- ------------ ---- ---- ---- ---- ------------
Remaining Ending Unpaid Certificate/ Interest Notational Class Shortfall Balance ----- --------- ------- 1A 0.00 356,844,205.99 2A 0.00 138,194,418.40 X-1A 0.00 191,158,118.00 X-1B 0.00 165,686,087.99 X-B 0.00 7,702,000.00 A-R 0.00 0.00 B-1 0.00 7,702,000.00 B-2 0.00 4,564,000.00 B-3 0.00 3,424,000.00 B-4 0.00 1,426,000.00 B-5 0.00 856,000.00 B-6 0.00 1,997,086.78 --- ---- ------------ Totals 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- Original Current Beginning Current Unpaid Current Supported Class Face Certificate Certificate/ Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) --- ------ ---- ---------------- -------- --------- --------- --------- -------- 1A 381,698,000.00 1.45375% 947.21257298 1.14750857 0.00000000 0.00000000 0.00000000 0.00000000 2A 168,875,000.00 2.99084% 823.72093323 2.05301193 0.00000000 0.00000000 0.00000000 0.00000000 X-1A 0.00 1.20174% 948.54698756 0.94991992 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 1.24625% 945.68432981 0.98213077 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.91896% 1000.00000000 0.76579849 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 3.16138% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 7,702,000.00 1.85375% 1000.00000000 1.54479226 0.00000000 0.00000000 0.00000000 0.00000000 B-2 4,564,000.00 2.77271% 1000.00000000 2.31058940 0.00000000 0.00000000 0.00000000 0.00000000 B-3 3,424,000.00 2.77271% 1000.00000000 2.31058995 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,426,000.00 2.77271% 1000.00000000 2.31058906 0.00000000 0.00000000 0.00000000 0.00000000 B-5 856,000.00 2.77271% 1000.00000000 2.31058411 0.00000000 0.00000000 0.00000000 0.00000000 B-6 1,997,086.78 2.77271% 1000.00000000 2.31059063 0.00000000 0.00000000 0.00000000 0.00000000
Remaining Ending Total Unpaid Certificate/ Class Interest Interest Notational (5) Distribution Shortfall Balance --- ------------ --------- ------- 1A 1.14750857 0.00000000 934.90827870 2A 2.05301187 0.00000000 818.32372110 X-1A 0.94996958 0.00000000 938.12360950 X-1B 0.98218208 0.00000000 931.22590935 X-B 0.76829914 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 B-1 1.54479226 0.00000000 1000.00000000 B-2 2.31058940 0.00000000 1000.00000000 B-3 2.31058995 0.00000000 1000.00000000 B-4 2.31058906 0.00000000 1000.00000000 B-5 2.31058411 0.00000000 1000.00000000 B-6 2.31059063 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 6,973,822.89 Liquidations, Insurance Proceeds, Reserve Funds 38.51 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1,129.88 Realized Losses 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 6,974,991.28 Withdrawals Reimbursement for Servicer Advances 1,129.88 Payment of Service Fee 166,815.74 Payment of Interest and Principal 6,807,045.66 ------------ Total Withdrawals (Pool Distribution Amount) 6,974,991.28 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 162,911.11 Master Servicing Fee 3,904.63 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 166,815.74 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ ------- ----------- -------- ------- X-1 Basis Risk Reserve Fund 5,000.00 19.25 19.25 5,000.00 X-2 Basis Risk Reserve Fund 5,000.00 19.26 19.26 5,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY - -------------------------------- ----------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 1 451,952.78 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 ----- ------- ----- ------- 1 451,952.78 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 0.071429% 0.087758% 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% --------- --------- --------- --------- 0.071429% 0.087758% 0.000000% 0.000000%
FORECLOSURE REO TOTAL - ---------------------------------- -------------------------------- --------------------------------- 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 1 451,952.78 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 1 451,952.78
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 0.071429% 0.087758% 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% 0.071429% 0.087758% Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1,129.88
Original $ Original % Current $ Current % Current Class % Prepayment % ---------- ---------- --------- --------- --------------- ------------ Class A 570,533,086.78 99.99998247% 515,007,711.17 100.00000000% 96.122565% 0.000000% Class 1A 188,844,086.78 33.09957968% 158,163,505.18 30.71090039% 69.289100% 1,786.983100% Class 2A 19,969,086.78 3.50007453% 19,969,086.78 3.87743452% 26.833466% 692.041754% Class B-1 12,267,086.78 2.15010924% 12,267,086.78 2.38192293% 1.495512% 38.569616% Class B-2 7,703,086.78 1.35015578% 7,703,086.78 1.49572261% 0.886200% 22.855327% Class B-3 4,279,086.78 0.75001540% 4,279,086.78 0.83087820% 0.664844% 17.146503% Class B-4 2,853,086.78 0.50007376% 2,853,086.78 0.55398914% 0.276889% 7.141038% Class B-5 1,997,086.78 0.35003867% 1,997,086.78 0.38777803% 0.166211% 4.286626% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.387778% 10.000892%
Please refer to the prospectus supplement for a full description of loss exposure
Original $ Original % Current $ Current % ---------- ---------- --------- --------- Bankruptcy 100,000.00 0.01752746% 100,000.00 0.01941718% Fraud 17,115,996.00 3.00000007% 17,115,996.00 3.32344461% Special Hazard 6,000,000.00 1.05164785% 5,998,492.48 1.16473838%
Limit of subordinate's exposure to certain types of losses DELINQUENCY STATUS BY GROUP GROUP 1
DELINQUENT BANKRUPTCY - ----------------------------------- ----------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 0 0.00 30 Days 1 451,952.78 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 -------- -------- -------- -------- 1 451,952.78 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 0.102881% 0.121923% 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% -------- -------- -------- -------- 0.102881% 0.121923% 0.000000% 0.000000%
FORECLOSURE REO TOTAL - ----------------------------------- ---------------------------------- ---------------------------------- 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 1 451,952.78 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 1 451,952.78
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 0.102881% 0.121923% 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% 0.102881% 0.121923%
GROUP 2
DELINQUENT BANKRUPTCY - ---------------------------------- ---------------------------------- 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%
FORECLOSURE REO TOTAL - --------------------------------- -------------------------------- --------------------------------- 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%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 3.148476% Weighted Average Net Coupon 2.772972% Weighted Average Pass-Through Rate 2.763972% Weighted Average Maturity (Stepdown Calculation) 322 Beginning Scheduled Collateral Loan Count 1,414 Number of Loans Paid in Full 14 Ending Scheduled Collateral Loan Count 1,400 Beginning Scheduled Collateral Balance 520,615,579.16 Ending Scheduled Collateral Balance 515,007,711.18 Ending Actual Collateral Balance at 30-June-2003 515,000,957.59 Monthly P&I Constant 1,365,954.91 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 6,760,866.79 Ending Scheduled Balance for Premium Loans 515,007,711.18 Scheduled Principal 0.00 Unscheduled Principal 5,607,867.98
MISCELLANEOUS REPORTING Pro Rata Senior Percent 96.164332% Senior Percentage 100.000000% Senior Prepay Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%
GROUP 1 2 TOTAL Collateral Description Mixed ARM 6 Month ARM Mixed ARM Weighted Average Coupon Rate 3.060901 3.374836 3.148476 Weighted Average Net Rate 2.685202 2.999836 2.772972 Pass-Through Rate 2.676202 2.990836 2.763972 Weighted Average Maturity 306 348 322 Record Date 06/30/2003 06/30/2003 06/30/2003 Principal and Interest Constant 957,512.92 408,441.99 1,365,954.91 Beginning Loan Count 982 432 1,414 Loans Paid in Full 10 4 14 Ending Loan Count 972 428 1,400 Beginning Scheduled Balance 375,384,706.56 145,230,872.60 520,615,579.16 Ending Scheduled Balance 370,688,292.78 144,319,418.40 515,007,711.18 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 4,696,413.78 911,454.20 5,607,867.98 Scheduled Interest 957,512.92 408,441.99 1,365,954.91 Servicing Fee 117,526.47 45,384.64 162,911.11 Master Servicing Fee 2,815.40 1,089.23 3,904.63 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 837,171.05 361,968.12 1,199,139.17 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 198,574,266.37 Six Month LIBOR Loans 172,114,026.41
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