-----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, HgSpM84CHYBIdhtSp4UGgmQT8f971Jfhv7FiB6GdmC2wJOtooTH5p0g3u83fnhoY 6d7N7jaZkCzL1XXwI80SEw== 0000950149-04-000325.txt : 20040209 0000950149-04-000325.hdr.sgml : 20040209 20040206184558 ACCESSION NUMBER: 0000950149-04-000325 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040120 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040209 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: 04575620 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 f96263de8vk.htm CURRENT REPORT 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

January 20, 2004
Date of Report (Date of Earliest Event Reported)

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

SEQUOIA RESIDENTIAL FUNDING, INC.

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

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 11 (the “Certificates”).
     
    The following exhibit which relates specifically to the Certificates is included with this Current Report:
         
Item 7(c).   Exhibits    
         
    10.1   Monthly Payment Date Statement relating to the distribution to Certificateholders, January 20, 2004.

 

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: February 6, 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, January 20, 2004     5  

  EX-10.1 3 f96263dexv10w1.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 2002-10 RECORD DATE: DECEMBER 31, 2003 DISTRIBUTION DATE: JANUARY 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Certificate Class Pass-Through Beginning Interest Principal Class CUSIP Description Rate Certificate Balance Distribution Distribution - ------------------------------------------------------------------------------------------------------------ 1A 81743VAA1 SEN 1.54875% 721,508,154.86 931,196.46 9,307,186.88 2A-1 81743VAB9 SEN 1.52875% 166,991,223.93 212,739.86 2,170,706.77 2A-2 81743VAN3 SEN 1.82875% 3,500,000.00 5,333.85 0.00 X-1A 81743VAC7 IO 1.08544% 0.00 307,582.89 0.00 X-1B 81743VAD5 IO 1.16581% 0.00 370,613.61 0.00 X-2 81743VAP8 IO 1.18156% 0.00 167,875.70 0.00 X-B 81743VAE3 IO 0.62531% 0.00 13,411.07 0.00 A-R 81743VAF0 SEN 3.37730% 0.00 0.00 0.00 B-1 81743VAG8 SUB 1.94875% 12,600,000.00 20,461.88 0.00 B-2 81743VAH6 SUB 1.94875% 8,400,000.00 13,641.25 0.00 B-3 81743VAJ2 SUB 2.54875% 4,725,000.00 10,035.70 0.00 B-4 SMT0210B4 SUB 2.68426% 2,625,000.00 5,871.82 0.00 B-5 SMT0210B5 SUB 2.68426% 2,100,000.00 4,697.46 0.00 B-6 SMT0210B6 SUB 2.68426% 3,685,162.00 8,243.28 0.00 - ------------------------------------------------------------------------------------------------------------ Totals 926,134,540.79 2,071,704.83 11,477,893.65 - ------------------------------------------------------------------------------------------------------------
Current Ending Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss - ------------------------------------------------------------------------------------------------- 1A 81743VAA1 0.00 712,200,967.98 10,238,383.34 0.00 2A-1 81743VAB9 0.00 164,820,517.16 2,383,446.63 0.00 2A-2 81743VAN3 0.00 3,500,000.00 5,333.85 0.00 X-1A 81743VAC7 0.00 0.00 307,582.89 0.00 X-1B 81743VAD5 0.00 0.00 370,613.61 0.00 X-2 81743VAP8 0.00 0.00 167,875.70 0.00 X-B 81743VAE3 0.00 0.00 13,411.07 0.00 A-R 81743VAF0 0.00 0.00 0.00 0.00 B-1 81743VAG8 0.00 12,600,000.00 20,461.88 0.00 B-2 81743VAH6 0.00 8,400,000.00 13,641.25 0.00 B-3 81743VAJ2 0.00 4,725,000.00 10,035.70 0.00 B-4 SMT0210B4 0.00 2,625,000.00 5,871.82 0.00 B-5 SMT0210B5 0.00 2,100,000.00 4,697.46 0.00 B-6 SMT0210B6 0.00 3,685,162.00 8,243.28 0.00 - ------------------------------------------------------------------------------------------------- Totals 0.00 914,656,647.14 13,549,598.48 0.00 - -------------------------------------------------------------------------------------------------
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT
Beginning Scheduled UnScheduled Original Face Certificate Principal Principal Class Amount Balance Distribution Distribution Accretion - ---------------------------------------------------------------------------------------- 1A 822,375,000.00 721,508,154.86 0.00 9,307,186.88 0.00 2A-1 190,000,000.00 166,991,223.93 0.00 2,170,706.77 0.00 2A-2 3,500,000.00 3,500,000.00 0.00 0.00 0.00 X-1A 0.00 0.00 0.00 0.00 0.00 X-1B 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 B-1 12,600,000.00 12,600,000.00 0.00 0.00 0.00 B-2 8,400,000.00 8,400,000.00 0.00 0.00 0.00 B-3 4,725,000.00 4,725,000.00 0.00 0.00 0.00 B-4 2,625,000.00 2,625,000.00 0.00 0.00 0.00 B-5 2,100,000.00 2,100,000.00 0.00 0.00 0.00 B-6 3,685,162.00 3,685,162.00 0.00 0.00 0.00 - ---------------------------------------------------------------------------------------- Totals 1,050,010,262.00 926,134,540.79 0.00 11,477,893.65 0.00 - ----------------------------------------------------------------------------------------
Realized Total Principal Ending Certificate Ending Certificate Total Principal Class Loss (1) Reduction Balance Percentage Distribution - ----------------------------------------------------------------------------------------------------- 1A 0.00 9,307,186.88 712,200,967.98 0.86602945 9,307,186.88 2A-1 0.00 2,170,706.77 164,820,517.16 0.86747641 2,170,706.77 2A-2 0.00 0.00 3,500,000.00 1.00000000 0.00 X-1A 0.00 0.00 0.00 0.00000000 0.00 X-1B 0.00 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00 0.00000000 0.00 X-B 0.00 0.00 0.00 0.00000000 0.00 A-R 0.00 0.00 0.00 0.00000000 0.00 B-1 0.00 0.00 12,600,000.00 1.00000000 0.00 B-2 0.00 0.00 8,400,000.00 1.00000000 0.00 B-3 0.00 0.00 4,725,000.00 1.00000000 0.00 B-4 0.00 0.00 2,625,000.00 1.00000000 0.00 B-5 0.00 0.00 2,100,000.00 1.00000000 0.00 B-6 0.00 0.00 3,685,162.00 1.00000000 0.00 - ---------------------------------------------------------------------------------------------------- Totals 0.00 11,477,893.65 914,656,647.14 0.87109306 11,477,893.65 - ----------------------------------------------------------------------------------------------------
(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
Scheduled Unscheduled Original Face Beginning Principal Principal Realized Class Amount Certificate Balance Distribution Distribution Accretion Loss (3) - --------------------------------------------------------------------------------------------------------------- 1A 822,375,000.00 877.34689753 0.00000000 11.31744871 0.00000000 0.00000000 2A-1 190,000,000.00 878.90117858 0.00000000 11.42477247 0.00000000 0.00000000 2A-2 3,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 12,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 8,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 4,725,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 2,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 2,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 3,685,162.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Ending Total Principal Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - --------------------------------------------------------------------------------------- 1A 11.31744871 866.02944883 0.86602945 11.31744871 2A-1 11.42477247 867.47640611 0.86747641 11.42477247 2A-2 0.00000000 1000.00000000 1.00000000 0.00000000 X-1A 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 1000.00000000 1.00000000 0.00000000 B-4 0.00000000 1000.00000000 1.00000000 0.00000000 B-5 0.00000000 1000.00000000 1.00000000 0.00000000 B-6 0.00000000 1000.00000000 1.00000000 0.00000000
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION STATEMENT
Beginning Payment of Certificate/ Current Unpaid Current Original Face Current Notional Accrued Interest Interest Class Amount Certificate Rate Balance Interest Shortfall Shortfall - ------------------------------------------------------------------------------------------------------------- 1A 822,375,000.00 1.54875% 721,508,154.86 931,196.46 0.00 0.00 2A-1 190,000,000.00 1.52875% 166,991,223.93 212,739.86 0.00 0.00 2A-2 3,500,000.00 1.82875% 3,500,000.00 5,333.85 0.00 0.00 X-1A 0.00 1.08544% 340,037,134.52 307,574.11 0.00 0.00 X-1B 0.00 1.16581% 381,471,020.33 370,603.02 0.00 0.00 X-2 0.00 1.18156% 170,491,223.93 167,870.90 0.00 0.00 X-B 0.00 0.62531% 25,725,000.00 13,405.03 0.00 0.00 A-R 100.00 3.37730% 0.00 0.00 0.00 0.00 B-1 12,600,000.00 1.94875% 12,600,000.00 20,461.88 0.00 0.00 B-2 8,400,000.00 1.94875% 8,400,000.00 13,641.25 0.00 0.00 B-3 4,725,000.00 2.54875% 4,725,000.00 10,035.70 0.00 0.00 B-4 2,625,000.00 2.68426% 2,625,000.00 5,871.82 0.00 0.00 B-5 2,100,000.00 2.68426% 2,100,000.00 4,697.46 0.00 0.00 B-6 3,685,162.00 2.68426% 3,685,162.00 8,243.28 0.00 0.00 - ------------------------------------------------------------------------------------------------------------- Totals 1,050,010,262.00 2,071,674.62 0.00 0.00 - -------------------------------------------------------------------------------------------------------------
Non- Remaining Ending Supported Unpaid Certificate/ Interest Realized Total Interest Interest Notational Class Shortfall Loss (4) Distribution Shortfall Balance - --------------------------------------------------------------------------------------- 1A 0.00 0.00 931,196.46 0.00 712,200,967.98 2A-1 0.00 0.00 212,739.86 0.00 164,820,517.16 2A-2 0.00 0.00 5,333.85 0.00 3,500,000.00 X-1A 0.00 0.00 307,582.89 0.00 334,839,424.70 X-1B 0.00 0.00 370,613.61 0.00 377,361,543.28 X-2 0.00 0.00 167,875.70 0.00 168,320,517.16 X-B 0.00 0.00 13,411.07 0.00 25,725,000.00 A-R 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 20,461.88 0.00 12,600,000.00 B-2 0.00 0.00 13,641.25 0.00 8,400,000.00 B-3 0.00 0.00 10,035.70 0.00 4,725,000.00 B-4 0.00 0.00 5,871.82 0.00 2,625,000.00 B-5 0.00 0.00 4,697.46 0.00 2,100,000.00 B-6 0.00 0.00 8,243.28 0.00 3,685,162.00 - --------------------------------------------------------------------------------------- Totals 0.00 0.00 2,071,704.83 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 Non- Current Certificate/ Current Unpaid Current Supported Original Face Certificate Notional Accrued Interest Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall Shortfall - -------------------------------------------------------------------------------------------------------------- 1A 822,375,000.00 1.54875% 877.34689753 1.13232584 0.00000000 0.00000000 0.00000000 2A-1 190,000,000.00 1.52875% 878.90117858 1.11968347 0.00000000 0.00000000 0.00000000 2A-2 3,500,000.00 1.82875% 1000.00000000 1.52395714 0.00000000 0.00000000 0.00000000 X-1A 0.00 1.08544% 865.32295293 0.78271139 0.00000000 0.00000000 0.00000000 X-1B 0.00 1.16581% 888.35006383 0.86304122 0.00000000 0.00000000 0.00000000 X-2 0.00 1.18156% 881.09159654 0.86754987 0.00000000 0.00000000 0.00000000 X-B 0.00 0.62531% 1000.00000000 0.52108960 0.00000000 0.00000000 0.00000000 A-R 100.00 3.37730% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 12,600,000.00 1.94875% 1000.00000000 1.62395873 0.00000000 0.00000000 0.00000000 B-2 8,400,000.00 1.94875% 1000.00000000 1.62395833 0.00000000 0.00000000 0.00000000 B-3 4,725,000.00 2.54875% 1000.00000000 2.12395767 0.00000000 0.00000000 0.00000000 B-4 2,625,000.00 2.68426% 1000.00000000 2.23688381 0.00000000 0.00000000 0.00000000 B-5 2,100,000.00 2.68426% 1000.00000000 2.23688571 0.00000000 0.00000000 0.00000000 B-6 3,685,162.00 2.68426% 1000.00000000 2.23688402 0.00000000 0.00000000 0.00000000
Remaining Unpaid Realized Total Interest Interest Ending Certificate/ Class (5) Loss (6) Distribution Shortfall Notational Balance - --------------------------------------------------------------------------- 1A 0.00000000 1.13232584 0.00000000 866.02944883 2A-1 0.00000000 1.11968347 0.00000000 867.47640611 2A-2 0.00000000 1.52395714 0.00000000 1000.00000000 X-1A 0.00000000 0.78273373 0.00000000 852.09587520 X-1B 0.00000000 0.86306589 0.00000000 878.78012534 X-2 0.00000000 0.86757468 0.00000000 869.87347370 X-B 0.00000000 0.52132439 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1.62395873 0.00000000 1000.00000000 B-2 0.00000000 1.62395833 0.00000000 1000.00000000 B-3 0.00000000 2.12395767 0.00000000 1000.00000000 B-4 0.00000000 2.23688381 0.00000000 1000.00000000 B-5 0.00000000 2.23688571 0.00000000 1000.00000000 B-6 0.00000000 2.23688402 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 13,744,575.46 Liquidations, Insurance Proceeds, Reserve Funds 30.21 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1,022.65 Realized Losses 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 13,745,628.32 Withdrawals Reimbursement for Servicer Advances 3,085.15 Payment of Service Fee 192,944.69 Payment of Interest and Principal 13,549,598.48 ------------- Total Withdrawals (Pool Distribution Amount) 13,745,628.32 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 192,944.69 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 192,944.69 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - --------------------------------------------------------------------------------------------- Class X-A Basis Risk Reserve Fund 8,000.00 24.17 24,17 8,000.00 Class X-B Basis Risk Reserve Fund 2,000.00 6.04 6.04 2,000.00
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 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 2 490,871.08 120 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 2 490,871.08 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 0.081800% 0.053667% 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% 0.081800% 0.053667%
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 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 2 490,871.08 120 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 2 490,871.08 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 0.081800% 0.053667% 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% 0.081800% 0.053667%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1,022.65
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
Original $ Original % Current $ Current % Current Class % Prepayment % ---------------- ----------- -------------- ------------ --------------- ------------ Class A 1,050,010,162.00 99.99999048% 914,656,647.14 100.00000000% 96.267981% 0.000000% Class 1A 227,635,162.00 21.67932736% 202,455,679.16 22.13460972% 77.865390% 2,086.414495% Class 2-A-1 37,635,162.00 3.58426611% 37,635,162.00 4.11467649% 18.019933% 482.846741% Class 2-A-2 34,135,162.00 3.25093604% 34,135,162.00 3.73201923% 0.382657% 10.253357% Class X-1-A 34,135,162.00 3.25093604% 34,135,162.00 3.73201923% 0.000000% 0.000000% Class X-1-B 34,135,162.00 3.25093604% 34,135,162.00 3.73201923% 0.000000% 0.000000% Class X-2 34,135,162.00 3.25093604% 34,135,162.00 3.73201923% 0.000000% 0.000000% Class B-1 21,535,162.00 2.05094776% 21,535,162.00 2.35445312% 1.377566% 36.912085% Class B-2 13,135,162.00 1.25095558% 13,135,162.00 1.43607572% 0.918377% 24.608057% Class B-3 8,410,162.00 0.80095998% 8,410,162.00 0.91948843% 0.516587% 13.842032% Class B-4 5,785,162.00 0.55096242% 5,785,162.00 0.63249549% 0.286993% 7.690018% Class B-5 3,685,162.00 0.35096438% 3,685,162.00 0.40290113% 0.229594% 6.152014% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.402901% 10.795795%
Please refer to the prospectus supplement for a full description of loss exposure
Original $ Original % Current $ Current % Bankruptcy 163,046.00 0.01552804% 163,046.00 0.01782592% Fraud 31,500,308.00 3.00000001% 18,795,490.62 2.05492309% Special Hazard 11,240,000.00 1.07046573% 10,638,648.04 1.16313024%
Limit of subordinate's exposure to certain types of losses 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 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 1 202,471.80 120 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 1 202,471.80 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 0.051733% 0.027367% 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% 0.051733% 0.027367%
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 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 1 202,471.80 120 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 1 202,471.80 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 0.051733% 0.027367% 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% 0.051733% 0.027367%
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 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 1 288,399.28 120 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 1 288,399.28 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 0.195313% 0.164966% 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% 0.195313% 0.164966%
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 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 1 288,399.28 120 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 1 288,399.28 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 0.195313% 0.164966% 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% 0.195313% 0.164966%
COLLATERAL STATEMENT
Collateral Description Mixed ARM Weighted Average Gross Coupon 2.934286% Weighted Average Net Coupon 2.684286% Weighted Average Pass-Through Rate 2.684286% Weighted Average Maturity (Stepdown Calculation) 283 Beginning Scheduled Collateral Loan Count 2,471 Number of Loans Paid in Full 26 Ending Scheduled Collateral Loan Count 2,445 Beginning Scheduled Collateral Balance 926,134,540.79 Ending Scheduled Collateral Balance 914,656,647.14 Ending Actual Collateral Balance at 31-Dec-2003 914.656,648.85 Monthly P&I Constant 2,264,619.33 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realization Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 13,473,211.86 Ending Scheduled Balance for Premium Loans 914,656,647.14 Scheduled Principal 0.00 Unscheduled Principal 11,477,893.65
GROUP 1 2 TOTAL Collateral Description Mixed ARM 6 Month ARM Mixed ARM Weighted Average Coupon Rate 2.926683 2.966466 2.934286 Weighted Average Net Rate 2.676683 2.716466 2.684286 Pass-Through Rate 2.676683 2.716466 2.682486 Weighted Average Maturity 283 283 283 Record Date 12/31/2003 12/31/2003 12/31/2003 Principal and Interest Constant 1,827,079.53 437,539.80 2,264,619.33 Beginning Loan Count 1,955 516 2,471 Loans Paid in Full 22 4 26 Ending Loan Count 1,933 512 2,445 Beginning Scheduled Balance 749,140,151.86 176,994,388.93 926,134,540.79 Ending Scheduled Balance 739,832,964.98 174,823,682.16 914,656,647.14 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 9,307,186.88 2,170,706.77 11,477,893.65 Scheduled Interest 1,827,079.53 437,539.80 2,264,619.33 Servicing Fee 156,070.86 36,873.83 192,944.69 Master Servicing Fee 0.00 0.00 0.00 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 1,671,008.67 400,665.97 2,071,674.64 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 347,830,535.91 Six Month LIBOR Loans 392,002,429.07 Pro Rata Senior Percentage 96.311505% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000% Group 2 Pro Rata Senior Percentage 96.325779% Senior Percentage 100.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% Subordinate Prepayment Percentage 0.000000%
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