-----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, Sp23jGi1sapfhr8C3UMYgzwIBplzgNPYrikx9PhuO0wXpyoXbc6Qf8Ne8ZkpFxWT 7UwXNvBODNmnzk8Ao9eGfg== 0000950149-03-002898.txt : 20031210 0000950149-03-002898.hdr.sgml : 20031210 20031210150034 ACCESSION NUMBER: 0000950149-03-002898 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031120 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031210 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: 031047141 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 f95106ge8vk.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

November 20, 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, November 20, 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: December 9, 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, November 20, 2003     5  

  EX-10.1 3 f95106gexv10w1.htm EXHIBIT 10.1 exv10w1

 

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: October 31, 2003
Distribution Date: November 20, 2003

Certificateholder Distribution Summary

                                           
              Certificate           Beginning        
              Class   Certificate   Certificate   Interest
Class   CUSIP   Description   Pass-Through Rate   Balance   Distribution
 
 
 
 
 
 
A-1
   81743PAP1   SEN     1.45000 %     470,625,022.07       568,671.90  
 
A-2
   81743PAQ9   SEN     1.54625 %     280,625,075.93       361,597.10  
 
M-1
   81743PAR7   SUB     1.77000 %     11,480,000.00       16,933.10  
 
M-2
   81743PAS5   SUB     2.55000 %     4,920,000.00       10,455.00  
 
X
   SMT03002X   IO     0.00000 %     0.00       719,081.31  
 
R
   SMT03002R   SUB     0.00000 %     0.00       0.00  
 
                            
         
Totals
                             767,650,098.00          
 
                            
         

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                           
      Principal   Current   Ending Certificate   Total   Cumulative
Class   Distribution   Realized Loss   Balance   Distribution   Realized Loss
 
 
 
 
 
 
A-1
     5,724,256.45       0.00       464,900,765.62       6,292,928.35       0.00  
 
A-2
     3,836,043.63       0.00       276,789,032.30       4,197,640.73       0.00  
 
M-1
     0.00       0.00       11,480,000.00       16,933.00       0.00  
 
M-2
     0.00       0.00       4,920,000.00       10,455.00       0.00  
 
X
     0.00       0.00       0.00       719,083.31       0.00  
 
R
     0.00       0.00       0.00       0.00       0.00  
 
    
     
     
     
     
 
Totals
     9,560,300.08       0.00       758,089,797.92       11,237,040.39       0.00  
 
    
     
     
     
     
 

All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement

                                                   
              Beginning   Scheduled   Unscheduled                
      Original Face   Certificate   Principal   Principal           Realized
Class   Amount   Balance   Distribution   Distribution   Accretion   Loss (1)
 
 
 
 
 
 
 
A-1
     500,000,000.00       470,625,022.07       0.00       5,724,256.45       0.00       0.00  
 
A-2
     303,600,000.00       280,625,075.93       0.00       3,836,043.63       0.00       0.00  
 
M-1
     11,480,000.00       11,480,000.00       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  
 
X
     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  
 
 
    
     
     
     
     
     
 
Totals
     820,000,000.00       767,650,098.00       0.00       9,560,300.08       0.00       0.00  
 
 
    
     
     
     
     
     
 

[Additional columns below]

#091;Continued from above table, first column(s) repeated]
                                   
      Total Principal   Ending Certificate   Ending Certificate   Total Principal
Class   Reduction   Balance   Percentage   Distribution
 
 
 
 
 
A-1
     5,724,256.45       464,900,765.62       0.92980153       5,724,256.45  
 
A-2
     3,836,043.63       276,789,032.30       0.91168983       3,836,043.63  
 
M-1
     0.00       11,480,000.00       1.00000000       0.00  
 
M-2
     0.00       4,920,000.00       1.00000000       0.00  
 
X
     0.00       0.00       0.00000000       0.00  
 
R
     0.00       0.00       0.00000000       0.00  
 
 
    
     
     
     
 
Totals
     9,560,300.08       758,089,797.92       0.92449975       9,560,300.08  
 
 
    
     
     
     
 

(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           Realized
Class   Amount   Balance   Distribution   Distribution   Accretion   Loss (3)
 
 
 
 
 
 
A-1
     500,000,000.00       941.25004414       0.00000000       11.44851290       0.00000000       0.00000000  
A-2
     303,600,000.00       924.32501953       0.00000000       12.63518982       0.00000000       0.00000000  
M-1
     11,480,000.00       1000.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
M-2
     4,920,000.00       1000.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
X
     0.00       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000  
R
     0.00       0.00000000       0.00000000       0.00000000       0.00000000       0.00000000  

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                 
    Total Principal   Ending Certificate   Ending Certificate   Total Principal
Class   Reduction   Balance   Percentage   Distribution
 
 
 
 
A-1
     11.44851290       929.80153124       0.92980153       11.44851290  
A-2
     12.63518982       911.68982971       0.91168983       12.63518982  
M-1
     0.00000000       1000.00000000       1.00000000       0.00000000  
M-2
     0.00000000       1000.00000000       1.00000000       0.00000000  
X
     0.00000000       0.00000000       0.00000000       0.00000000  
R
     0.00000000       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
                      Certificate/   Current   Unpaid
      Original Face   Current   Notional   Accrued   Interest
Class   Amount   Certificate Rate   Balance   Interest   Shortfall
 
 
 
 
 
 
A-1
     500,000,000.00       1.45000 %     470,625,022.70       568,671.90       0.00  
 
A-2
     303,600,000.00       1.54625 %     280,625,075.93       361,597.10       0.00  
 
M-1
     11,480,000.00       1.77000 %     11,480,000.00       16,933.00       0.00  
 
M-2
     4,920,000.00       2.55000 %     4,920,000.00       10,455.00       0.00  
 
X
     0.00       0.00000 %     767,650,098.00       0.00       0.00  
 
R
     0.00       0.00000 %     0.00       0.00       0.00  
 
    
                     
     
 
Totals
     820,000,000.00                       956,657.00       0.00  
 
    
                     
     
 

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                                   
              Non-                   Remaining   Ending
      Current   Supported                   Unpaid   Certificate/
      Interest   Interest   Realized   Total Interest   Interest   Notational
Class   Shortfall   Shortfall   Loss (4)   Distribution   Shortfall   Balance
 
 
 
 
 
 
 
A-1
     0.00       0.00       0.00       568,671.90       0.00       464,900,765.62  
 
A-2
     0.00       0.00       0.00       361,597.10       0.00       276,789,032.30  
 
M-1
     0.00       0.00       0.00       16,933.00       0.00       11,480,000.00  
 
M-2
     0.00       0.00       0.00       10,455.00       0.00       4,920,000.00  
 
X
     0.00       0.00       0.00       719,083.31       0.00       758,089,797.92  
 
R
     0.00       0.00       0.00       0.00       0.00       0.00  
 
    
     
     
     
     
         
Totals
     0.00       0.00       0.00       1,676,740.31       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-1
     500,000,000.00       1.45000 %     941.25004414       1.13734380       0.00000000  
A-2
     303,600,000.00       1.54625 %     924.32501953       1.19103129       0.00000000  
M-1
     11,480,000.00       1.77000 %     1000.00000000       1.47500000       0.00000000  
M-2
     4,920,000.00       2.55000 %     1000.00000000       2.12500000       0.00000000  
X
     0.00       0.00000 %     936.15865610       0.00000000       0.00000000  
R
     0.00       0.00000 %     0.00000000       0.00000000       0.00000000  

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                                 
            Non-                   Remaining    
    Current   Supported                   Unpaid    
Class   Interest   Interest   Realized   Total Interest   Interest   Ending Certificate/
(5)   Shortfall   Shortfall   Loss (6)   Distribution   Shortfall   Notational Balance
 
 
 
 
 
 
A-1
     0.00000000       0.00000000       0.00000000       1.13734380       0.00000000       929.80153124  
A-2
     0.00000000       0.00000000       0.00000000       1.19103129       0.00000000       911.68982971  
M-1
     0.00000000       0.00000000       0.00000000       1.47500000       0.00000000       1000.00000000  
M-2
     0.00000000       0.00000000       0.00000000       2.12500000       0.00000000       1000.00000000  
X
     0.00000000       0.00000000       0.00000000       0.87693087       0.00000000       924.49975356  
R
     0.00000000       0.00000000       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
     11,481,508.41  
 
Liquidations, Insurance Proceeds, Reserve Funds
     0.00  
 
Proceeds from Repurchased Loans
     0.00  
 
Other Amounts (Servicer Advances)
     7,819.78  
 
Realized Losses
     0.00  
 
Prepayment Penalties
     0.00  
 
    
 
Total Deposits
     11,489,328.19  
Withdrawals
        
 
Reimbursement for Servicer Advances
     5,934.62  
 
Payment of Service Fee
     246,353.17  
 
Payment of Interest and Principal
     11,237,040.40  
 
    
 
Total Withdrawals (Pool Distribution Amount)
     11,489,328.19  
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
     241,863.25  
Master Servicing Fee
     4,489.92  
Supported Prepayment/Curtailment Interest Shortfall
     0.00  
 
    
 
Net Servicing Fee
     246,353.17  
 
    
 

 

 

                                 
    Beginning   Current   Current   Ending
Account Type   Balance   Withdrawals   Deposits   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
     5       1,581,813.36     30 Days     0       0.00     30 Days     0       0.00  
60 Days
     2       1,699,399.99     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  
 
    
     
             
     
             
     
 
 
     7       3,281,213.35               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
     0.236855 %     0.208095 %   30 Days     0.000000 %     0.000000 %   30 Days     0.000000 %     0.000000 %
60 Days
     0.094742 %     0.223564 %   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 %
 
    
     
             
     
             
     
 
 
     0.331596 %     0.431659 %             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     5       1,581,813.36  
60 Days
     0       0.00     60 Days     2       1,699,399.99  
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               7       3,281,213.35  
                                         
    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     0.236855 %     0.208095 %
60 Days
     0.000000 %     0.000000 %   60 Days     0.094742 %     0.223564 %
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 %             0.331596 %     0.431659 %
                                 
Current Period Class A Insufficient Funds:
     0.00     Principal Balance of Contaminated Properties     0.00     Periodic Advance 7,819.78

 

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
     3       652,113.36     30 Days     0       0.00     30 Days     0       0.00  
60 Days
     1       199,400.00     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  
 
    
     
             
     
             
     
 
 
     4       851,513.36               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
     0.235479 %     0.136952 %   30 Days     0.000000 %     0.000000 %   30 Days     0.000000 %     0.000000 %
60 Days
     0.078493 %     0.041876 %   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 %
 
    
     
             
     
             
     
 
 
     0.313972 %     0.178828 %             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     3       652,113.36  
60 Days
     0       0.00     60 Days     1       199,400.00  
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               4       851,513.36  
                                         
    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     0.235479 %     0.136952 %
60 Days
     0.000000 %     0.000000 %   60 Days     0.078493 %     0.041876 %
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 %             0.313972 %     0.178828 %

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
     2       929,700.00     30 Days     0       0.00     30 Days     0       0.00  
60 Days
     1       1,499,999.99     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  
 
    
     
             
     
             
     
 
 
     3       2,429,699.99               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
     0.238949 %     0.327385 %   30 Days     0.000000 %     0.000000 %   30 Days     0.000000 %     0.000000 %
60 Days
     0.119474 %     0.528211 %   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 %
 
    
     
             
     
             
     
 
 
     0.358423 %     0.855597 %             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     2       929,700.00  
60 Days
     0       0.00     60 Days     1       1,499,999.99  
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               3       2,429,699.99  
                                         
    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     0.238949 %     0.327385 %
60 Days
     0.000000 %     0.000000 %   60 Days     0.119474 %     0.528211 %
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 %             0.358423 %     0.855597 %

 

 

Collateral Statement

         
Collateral Description   Mixed Arm
Weighted Average Gross Coupon
     2.998197 %
Weighted Average Net Coupon
     2.621120 %
Weighted Average Pass-Through Rate
     2.614120 %
Weighted Average Maturity (Stepdown Calculation)
     326  
Beginning Scheduled Collateral Loan Count
     2,134  
Number of Loans Paid in Full
     23  
Ending Scheduled Collateral Loan Count
     2,111  
Beginning Scheduled Collateral Balance
     769,700,098.00  
Ending Scheduled Collateral Balance
     760,139,797.92  
Ending Actual Collateral Balance at 31-Oct-2003
     760,139,712.70  
Monthly P&I Constant
     1,923,093.50  
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
     760,139,797.92  
Scheduled Principal
     0.00  
Unscheduled Principal
     9,560,300.08  
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
     0.00  
Excess Cash Amount
     719,083.31  

 

 

Miscellaneous Reporting

         
M-1 Target Amount
     747,217,421.36  
M-2 Target Amount
     756,339,098.93  
Senior Target Amount
     725,933,507.01  
Group 1 – One-Month LIBOR Loans
     139,614,431.81  
Group 1 – Six-Month LIBOR Loans
     336,548,467.21  
Group 2 – Six Month LIBOR Loans
     283,976,898.90  
Applied Loss Amountn
     0  
                         
Group   1   2   Total
Collateral Description   Mixed ARM   6 Month ARM   Mixed ARM
Weighted Average Coupon Rate
     2.967893       3.048935       2.998197  
Weighted Average Net Rate
     2.591076       2.671423       2.621120  
Pass-Through Rate
     2.584076       2.664423       2.614120  
Weighted Average Maturity
     320       333       326  
Record Date
     10/31/2003       10/31/2003       10/31/2003  
Principal and Interest Constant
     1,191,824.49       731,269.01       1,923,093.50  
Beginning Loan Count
     1,290       844       2,134  
Loans Paid in Full
     16       7       23  
Ending Loan Count
     1,274       837       2,111  
Beginning Scheduled Balance
     481,887,155.47       287,812,942.53       769,700,098.00  
Ending Scheduled Balance
     476,162,899.02       283,976,898.90       760,139,797.92  
Scheduled Principal
     0.00       0.00       0.00  
Unscheduled Principal
     5,724,256.45       3,836,043.63       9,560,300.08  
Scheduled Interest
     1,191,824.49       731,269.01       1,923,093.50  
Servicing Fee
     151,319.23       90,544.02       241,863.25  
Master Servicing Fee
     2,811.02       1,678.90       4,489.92  
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
     1,037,694.24       639,046.09       1,676,740.33  
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  

  -----END PRIVACY-ENHANCED MESSAGE-----