-----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, AZ5IKkKtvZLlZqN5Sb2bCrqYurb55nCDx4Dq0h4DNA7Zjk1W9Vi2Y0MoTno/KIob 5wuolRfqkOL2tS2YtwuN8Q== 0000950149-03-002275.txt : 20031008 0000950149-03-002275.hdr.sgml : 20031008 20031008154558 ACCESSION NUMBER: 0000950149-03-002275 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030922 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031008 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: 03933371 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 f93523ge8vk.htm FORM 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

September 22, 2003
Date of Report (Date of Earliest Event Reported)

SEQUOIA RESIDENTIAL FUNDING, INC.
(as Depositor of Sequoia Mortgage Trust 2003-2, the Issuer of Mortgage Pass-
Through Certificates under a Pooling and Servicing Agreement
dated as of April 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 Incorporation)   (Commission File Number)   (I.R.S. Employer 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)

 

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 2003-2 (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, September 22, 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: October 7, 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, September 22, 2003  
5

  EX-10.1 3 f93523gexv10w1.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 2003-2 RECORD DATE: AUGUST 29, 2003 DISTRIBUTION DATE: SEPTEMBER 22, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Beginning Certificate Class Certificate Certificate Interest Principal Class CUSIP Description Pass-Through Rate Balance Distribution Distribution - -------- ----------------- ----------------- ----------------- ----------------- ----------------- ----------------- A-1 81743PAP1 SEN 1.44000% 487,498,613.07 584,998.34 8,954,872.63 A-2 81743PAQ9 SEN 1.63313% 290,799,042.70 395,760.53 4,172,625.16 M-1 81743PAR7 SUB 1.76000% 11,480,000.00 16,837.33 0.00 M-2 81743PAS5 SUB 2.54000% 4,920,000.00 10,414.00 0.00 X SMT03002X IO 0.00000% 0.00 784,581.26 0.00 R SMT03002R SUB 0.00000% 0.00 0.00 0.00 ----------------- ----------------- ----------------- ----------------- ----------------- ----------------- Totals 794,697,655.77 1,792,591.46 13,127,497.79 ----------------- ----------------- ----------------- Ending Cumulative Current Realized Certificate Total Realized Class Loss Balance Distribution Loss - -------- ----------------- ----------------- ----------------- ----------------- A-1 0.00 478,543,740.44 9,539,870.97 0.00 A-2 0.00 286,626,417.54 4,568,385.69 0.00 M-1 0.00 11,480,000.00 16,837.33 0.00 M-2 0.00 4,920,000.00 10,414.00 0.00 X 0.00 0.00 784,581.26 0.00 R 0.00 0.00 0.00 0.00 ----------------- ----------------- ----------------- ----------------- Totals 0.00 781,570,157.98 14,920,089.25 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-1 500,000,000.00 487,498,613.07 0.00 8,954,872.63 0.00 0.00 8,954,872.63 A-2 303,600,000.00 290,799,042.70 0.00 4,172,625.16 0.00 0.00 4,172,625.16 M-1 11,480,000.00 11,480,000.00 0.00 0.00 0.00 0.00 0.00 M-2 4,920,000.00 4,920,000.00 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- -------------- -------------- -------------- -------------- -------------- Totals 820,000,000.00 794,697,655.77 0.00 13,127,497.79 0.00 0.00 13,127,497.79 -------------- -------------- -------------- -------------- -------------- -------------- -------------- Ending Ending Total Certificate Certificate Principal Class Balance Percentage Distribution - -------- -------------- -------------- -------------- A-1 478,543,740.44 0.95708748 8,954,872.63 A-2 286,626,417.54 0.94409228 4,172,625.16 M-1 11,480,000.00 1.00000000 0.00 M-2 4,920,000.00 1.00000000 0.00 X 0.00 0.00000000 0.00 R 0.00 0.00000000 0.00 -------------- -------------- -------------- Totals 781,570,157.98 0.95313434 13,127,497.79 -------------- -------------- --------------
(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-1 500,000,000.00 974.99722614 0.00000000 17.90974526 0.00000000 0.00000000 17.90974526 A-2 303,600,000.00 957.83610903 0.00000000 13.74382464 0.00000000 0.00000000 13.74382464 M-1 11,480,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-2 4,920,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Ending Total Certificate Certificate Principal Class Balance Percentage Distribution - -------- -------------- -------------- -------------- A-1 957.08748088 0.95708748 17.90974526 A-2 944.09228439 0.94409228 13.74382464 M-1 1000.00000000 1.00000000 0.00000000 M-2 1000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION STATEMENT
Beginning Payment of Current Certificate/ Current Unpaid Current Original Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall - --------- --------------- --------------- --------------- --------------- --------------- --------------- A-1 500,000,000.00 1.44000% 487,498,613.07 584,998.34 0.00 0.00 A-2 303,600,000.00 1.63313% 290,799,042.70 395,760.53 0.00 0.00 M-1 11,480,000.00 1.76000% 11,480,000.00 16,837.33 0.00 0.00 M-2 4,920,000.00 2.54000% 4,920,000.00 10,414.00 0.00 0.00 X 0.00 0.00000% 794,697,655.77 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 --------------- --------------- --------------- --------------- Totals 820,000,000.00 1,008,010.20 0.00 0.00 --------------- --------------- --------------- --------------- Remaining Ending Non-Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance - --------- --------------- --------------- --------------- --------------- --------------- A-1 0.00 0.00 584,998.34 0.00 478,543,740.44 A-2 0.00 0.00 395,760.53 0.00 286,626,417.54 M-1 0.00 0.00 16,837.33 0.00 11,480,000.00 M-2 0.00 0.00 10,414.00 0.00 4,920,000.00 X 0.00 0.00 784,581.26 0.00 781,570,157.98 R 0.00 0.00 0.00 0.00 0.00 --------------- --------------- --------------- --------------- Totals 0.00 0.00 1,792,591.46 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 Non-Supported Class Original Face Certificate Notional Accrued Interest Interest Interest (5) Amount Rate Balance Interest Shortfall Shortfall Shortfall - -------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- A-1 500,000,000.00 1.44000% 974.99722614 1.16999668 0.00000000 0.00000000 0.00000000 A-2 303,600,000.00 1.63313% 957.83610903 1.30355906 0.00000000 0.00000000 0.00000000 M-1 11,480,000.00 1.76000% 1000.00000000 1.46666638 0.00000000 0.00000000 0.00000000 M-2 4,920,000.00 2.54000% 1000.00000000 2.11666667 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 969.14348265 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Remaining Ending Unpaid Certificate/ Class Realized Total Interest Interest Notational (5) Loss (6) Distribution Shortfall Balance - -------- -------------- -------------- -------------- -------------- A-1 0.00000000 1.16999668 0.00000000 957.08748088 A-2 0.00000000 1.30355906 0.00000000 944.09228439 M-1 0.00000000 1.46666638 0.00000000 1000.00000000 M-2 0.00000000 2.11666667 0.00000000 1000.00000000 X 0.00000000 0.95680641 0.00000000 953.13433900 R 0.00000000 0.00000000 0.00000000 0.00000000
(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 15,170,812.83 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 13,269.61 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 15,184,082.44 Withdrawals Reimbursement for Servicer Advances 9,027.67 Payment of Service Fee 254,965.52 Payment of Interest and Principal 14,920,089.25 ------------- Total Withdrawals (Pool Distribution Amount) 15,184,082.44 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 250,317.80 Master Servicing Fee 4,647.72 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------ Net Servicing Fee 254,965.52 ============
Account Type Beginning Balance Current Withdrawals Current Deposits Ending Balance - ---------------------- ---------------------- ------------------------ -------------------- ----------------- Reserve Fund 10,000.00 0.00 0.00 10,000.00
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 13 6,066,754.99 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 -------- ------------ -------- -------- -------- -------- 13 6,066,754.99 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 0.601017% 0.774193% 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% -------- ------------ -------- -------- -------- -------- 0.601017% 0.774193% 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 13 6,066,754.99 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 13 6,066,754.99 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 0.601017% 0.774193% 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% 0.601017% 0.774193%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 13,269.61
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 12 5,848,754.99 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 -------- ------------ -------- -------- -------- -------- 12 5,848,754.99 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 0.918836% 1.194091% 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% -------- ------------ -------- -------- -------- -------- 0.918836% 1.194091% 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 12 5,848,754.99 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 12 5,848,754.99 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 0.918836% 1.194091% 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% 0.918836% 1.194091%
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 1 218,000.00 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- ------------ -------- -------- -------- -------- 1 218,000.00 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 0.116686% 0.074196% 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% -------- ------------ -------- -------- -------- -------- 0.116686% 0.074196% 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 1 218,000.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- ------------ 0 0.00 1 218,000.00 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 0.116686% 0.074196% 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% 0.116686% 0.074196%
COLLATERAL STATEMENT Collateral Description Mixed Arm Weighted Average Gross Coupon 3.083873% Weighted Average Net Coupon 2.706863% Weighted Average Pass-Through Rate 2.699863% Weighted Average Maturity (Stepdown Calculation) 328 Beginning Scheduled Collateral Loan Count 2,188 Number of Loans Paid in Full 25 Ending Scheduled Collateral Loan Count 2,163 Beginning Scheduled Collateral Balance 796,747,655.77 Ending Scheduled Collateral Balance 783,620,157.98 Ending Actual Collateral Balance at 29-Aug-2003 783,622,819.53 Monthly P&I Constant 2,047,556.95 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 783,620,157.98 Scheduled Principal 0.00 Unscheduled Principal 13,127,497.79 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 2,050,000.00 Overcollateralized Amount 2,050,000.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00 Extra Principal Distribution Amount 784,581.26 Excess Cash Amount 0.00
MISCELLANEOUS REPORTING M-1 Target Amount 770,298,615.29 M-2 Target Amount 779,702,057.19 Senior Target Amount 748,357,250.87 Group 1 - One-Month LIBOR Loans 142,618,748.35 Group 1 - Six-Month LIBOR Loans 347,187,125.49 Group 2 - Six Month LIBOR Loans 293,814,284.14 Applied Loss Amount 0
GROUP 1 2 TOTAL Collateral Description Mixed ARM 6 Month ARM Mixed ARM Weighted Average Coupon Rate 3.045587 3.147953 3.083873 Weighted Average Net Rate 2.668829 2.770524 2.706863 Pass-Through Rate 2.661829 2.763524 2.699863 Weighted Average Maturity 322 335 328 Record Date 08/29/2003 08/29/2003 08/29/2003 Principal and Interest Constant 1,265,849.54 781,707.41 2,047,556.95 Beginning Loan Count 1,322 866 2,188 Loans Paid in Full 16 9 25 Ending Loan Count 1,306 857 2,163 Beginning Scheduled Balance 498,760,746.47 297,986,909.30 796,747,655.77 Ending Scheduled Balance 489,805,873.84 293,814,284.14 783,620,157.98 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 8,954,872.63 4,172,625.16 13,127,497.79 Scheduled Interest 1,265,849.54 781,707.41 2,047,556.95 Servicing Fee 156,593.72 93,724.08 250,317.80 Master Servicing Fee 2,909.46 1,738.26 4,647.72 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 1,106,346.36 686,245.07 1,792,591.43 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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