-----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, NGSVMg+449wIGFtM0LGu6nPvZtfgBfAUUJXTBcAoCoBQRFuWv/hf/UdtQhQiRr6N GIP1CzIYf97dzf0aeK6sIQ== 0000950149-04-000111.txt : 20040109 0000950149-04-000111.hdr.sgml : 20040109 20040109152926 ACCESSION NUMBER: 0000950149-04-000111 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031222 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040109 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: 04517854 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 f95559ce8vk.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

December 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, December 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: January 9, 2004

         
    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, December 22, 2003     5  

  EX-10.1 3 f95559cexv10w1.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: NOVEMBER 28, 2003 DISTRIBUTION DATE: DECEMBER 22, 2003 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Certificate Interest Principal Class CUSIP Description Pass-Through Rate Balance Distribution Distribution - --------------------------------------------------------------------------------------------------------- A-1 81743PAP1 SEN 1.45000% 464,900,765.62 561,755.09 4,793,980.72 A-2 81743PAQ9 SEN 1.54625% 276,789,032.30 356,654.20 616,228.54 M-1 81743PAR7 SUB 1.77000% 11,480,000.00 16,933.00 0.00 M-2 81743PAS5 SUB 2.55000% 4,920,000.00 10,455.00 0.00 X SMT03002X IO 0.00000% 0.00 703,026.31 0.00 R SMT03002R SUB 0.00000% 0.00 0.00 0.00 ------------------------------------------------------------------------------------------------ Totals 758,089,797.92 1,648,823.60 5,410,209.26 - --------------------------------------------------------------------------------------------------------- Certificate Class Current Ending Certificate Total Cumulative Class CUSIP Description Realized Loss Balance Distribution Realized Loss - --------------------------------------------------------------------------------------------------------- A-1 81743PAP1 SEN 0.00 460,106,784.90 5,355,735.81 0.00 A-2 81743PAQ9 SEN 0.00 276,172,803.76 972,882.74 0.00 M-1 81743PAR7 SUB 0.00 11,480,000.00 16,933.00 0.00 M-2 81743PAS5 SUB 0.00 4,920,000.00 10,455.00 0.00 X SMT03002X IO 0.00 0.00 703,026.31 0.00 R SMT03002R SUB 0.00 0.00 0.00 0.00 ------------------------------------------------------------------------------------------------ Totals 0.00 752,679,588.66 7,059,032.86 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-1 500,000,000.00 464,900,765.62 0.00 4,793,980.72 0.00 0.00 A-2 303,600,000.00 276,789,032.30 0.00 616,228.54 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 820,000,000.00 758,089,797.92 0.00 5,410,209.26 0.00 0.00 - -------------------------------------------------------------------------------------------------- Total Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - --------------------------------------------------------------------------------------- A-1 4,793,980.72 460,106,784.90 0.92021357 4,793,980.72 A-2 616,228.54 276,172,803.76 0.90966009 616,228.54 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 5,410,209.26 752,679,588.66 0.91790194 5,410,209.26 - ---------------------------------------------------------------------------------------
(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-1 500,000,000.00 929.80153124 0.00000000 9.58796144 0.00000000 0.00000000 A-2 303,600,000.00 911.68982971 0.00000000 2.02973827 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 - ----------------------------------------------------------------------------------------------------- Total Ending Ending Principal Certificate Certificate Total Principal Class Reduction Balance Percentage Distribution - ------------------------------------------------------------------------- A-1 9.58796144 920.21356980 0.92021357 9.58796144 A-2 2.02973827 909.66009114 0.90966009 2.02973827 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 Current Non-Supported Original Face Current Notional Accrued Interest Interest Interest Realized Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall Loss (4) - ------------------------------------------------------------------------------------------------------------------------------------ A-1 500,000,000.00 1.45000% 464,900,765.62 561,755.09 0.00 0.00 0.00 0.00 A-2 303,600,000.00 1.54625% 276,789,032.30 356,654.20 0.00 0.00 0.00 0.00 M-1 11,480,000.00 1.77000% 11,480,000.00 16,933.00 0.00 0.00 0.00 0.00 M-2 4,920,000.00 2.55000% 4,920,000.00 10,455.00 0.00 0.00 0.00 0.00 X 0.00 0.00000% 758,089,797.92 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 -------------------------------------------------------------------------------------------------------------------------- Totals 820,000,000.00 945,797.29 0.00 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------------------------------------------------------------ A-1 561,755.09 0.00 460,106,784.90 A-2 356,654.20 0.00 276,172,803.76 M-1 16,933.00 0.00 11,480,000.00 M-2 10,455.00 0.00 4,920,000.00 X 703,026.31 0.00 752,679,588.66 R 0.00 0.00 0.00 -------------------------------------------------- Totals 1,648,823.60 0.00 - ------------------------------------------------------------
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION FACTORS STATEMENT
Payment of Non- Current Beginning Unpaid Current Supported Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized Class (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ------------------------------------------------------------------------------------------------------------------------------------ A-1 500,000,000.00 1.45000% 929.80153124 1.12351018 0.00000000 0.00000000 0.00000000 0.00000000 A-2 303,600,000.00 1.54625% 911.68982971 1.17475033 0.00000000 0.00000000 0.00000000 0.00000000 M-1 11,480,000.00 1.77000% 1000.00000000 1.47500000 0.00000000 0.00000000 0.00000000 0.00000000 M-2 4,920,000.00 2.55000% 1000.00000000 2.12500000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 924.49975356 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Unpaid Total Interest Interest Ending Certificate/ Class (5) Distribution Shortfall Notational Balance - ---------------------------------------------------------------- A-1 1.12351018 0.00000000 920.21356980 A-2 1.17475033 0.00000000 909.66009144 M-1 1.47500000 0.00000000 1000.00000000 M-2 2.12500000 0.00000000 1000.00000000 X 0.85734916 0.00000000 917.90193739 R 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 7,290,238.75 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 19,902.64 Realized Losses 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 7,310,141.39 Withdrawals Reimbursement for Servicer Advances 7,819.78 Payment of Service Fee 243,288.75 Payment of Interest and Principal 7,059,032.86 ------------ Total Withdrawals (Pool Distribution Amount) 7,310,141.39 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 238,854.57 Master Servicing Fee 4,434.18 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 243,288.75 ==========
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 24 6,509,639.85 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 1,983,999.99 60 Days 0 0.00 60 Days 0 0.00 90 Days 1 199,400.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 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 --------- ------------ --------- ------- -------- ------- 27 8,692,939.84 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 1.144492% 0.862499% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.095374% 0.262875% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.047687% 0.026420% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- --------- -------- -------- -------- -------- 1.287554% 1.151795% 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 24 6,509,639.85 60 Days 0 0.00 60 Days 2 1,983,999.99 90 Days 0 0.00 90 Days 1 199,400.00 120 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 27 8,692,939.84 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 1.144492% 0.862499% 60 Days 0.000000% 0.000000% 60 Days 0.095374% 0.262875% 90 Days 0.000000% 0.000000% 90 Days 0.047687% 0.026420% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- --------- 0.000000% 0.000000% 1.287554% 1.151795%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 19,902.64
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 16 3,891,646.10 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 1 199,400.00 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 -------- ------------ ------- -------- ----- ------- 17 4,091,046.10 0 0.00 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 1.267829% 0.825605% 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 0.079239% 0.042302% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- --------- -------- -------- -------- -------- 1.347068% 0.867907% 0.000000% 0.000000% 0.000000% 0.000000% GROUP 1 - ------------------------------------------------------------------------- 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 16 3,891,646.10 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 1 199,400.00 120 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 17 4,091,046.10 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 30 Days 1.267829% 0.825605% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.079239% 0.042302% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- --------- 0.000000% 0.000000% 1.347068% 0.867907%
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 8 2,617,893.75 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 1,983,999.99 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 -------- ------------ -------- -------- -------- -------- 10 4,601,893.74 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 0.958084% 0.923872% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.239521% 0.700167% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- --------- -------- -------- -------- -------- 1.197605% 1.624039% 0.000000% 0.000000% 0.000000% 0.000000% GROUP 2 - ------------------------------------------------------------------------ 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 8 2,617,893.75 60 Days 0 0.00 60 Days 2 1,983,999.99 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 10 4,601,893.74 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 0.958084% 0.923872% 60 Days 0.000000% 0.000000% 60 Days 0.239521% 0.700167% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- -------- 0.000000% 0.000000% 1.197605% 1.624039%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 2.986996% Weighted Average Net Coupon 2.609927% Weighted Average Pass-Through Rate 2.602927% Weighted Average Maturity (Stepdown Calculation) 325 Beginning Scheduled Collateral Loan Count 2,111 Number of Loans Paid in Full 14 Ending Scheduled Collateral Loan Count 2,097 Beginning Scheduled Collateral Balance 760,139,797.92 Ending Scheduled Collateral Balance 754,729,588.66 Ending Actual Collateral Balance at 28-Nov-2003 754,730,053.52 Monthly P&I Constant 1,892,112.34 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 754,729,588.66 Scheduled Principal 0.00 Unscheduled Principal 5,410,209.26 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 703,026.31
MISCELLANEOUS REPORTING M-1 Target Amount 741,899,185.65 M-2 Target Amount 750,955,940.72 Senior Target Amount 720,766,757.17 Group 1 - One-Month LIBOR Loans 138,990,839.60 Group 1 - Six-Month LIBOR Loans 332,378,078.70 Group 2 - Six Month LIBOR Loans 283,360,670.36 Applied Loss Amountn 0
GROUP 1 2 TOTAL Collateral Description Mixed ARM 6 Month ARM Mixed ARM Weighted Average Coupon Rate 2.957688 3.036140 2.986996 Weighted Average Net Rate 2.580854 2.658676 2.609927 Pass-Through Rate 2.573854 2.651676 2.602927 Weighted Average Maturity 319 332 325 Record Date 11/28/2003 11/28/2003 11/28/2003 Principal and Interest Constant 1,173,617.58 718,494.76 1,892,112.34 Beginning Loan Count 1,274 837 2,111 Loans Paid in Full 12 2 14 Ending Loan Count 1,262 835 2,097 Beginning Scheduled Balance 476,162,899.02 283,976,898.90 760,139,797.92 Ending Scheduled Balance 471.368,918.30 283,360,670.36 754,729,588.66 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 4,793,980.72 616,228.54 5,410,209.26 Scheduled Interest 1,173,617.58 718,494.76 1,892,112.34 Servicing Fee 149,528.55 89,326.02 238,854.57 Master Servicing Fee 2,777.64 1,656.54 4,434.18 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 1,021,311.39 627,512.20 1,648,823.59 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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