-----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, N22dllhGtAexTJDBVKSYQ62mOQw8V/l7HpfQPlpWHPXcf8TTsrn4Kfn5HncOaslJ H39FMUKAEPDq5J462g3zDA== 0000950149-04-000329.txt : 20040209 0000950149-04-000329.hdr.sgml : 20040209 20040206184827 ACCESSION NUMBER: 0000950149-04-000329 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: 04575627 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 f96263he8vk.htm CURRENT REPROT 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 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
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, 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 f96263hexv10w1.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: DECEMBER 31, 2003 DISTRIBUTION DATE: JANUARY 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Principal Class CUSIP Description Through Rate Balance Distribution Distribution - ---------------------------------------------------------------------------------------------------------------- A-1 81743PAP1 SEN 1.47875% 460,106,784.90 566,985.76 2,916,166.32 A-2 81743PAQ9 SEN 1.54625% 276,172,803.76 355,860.16 2,498,984.12 M-1 81743PAR7 SUB 1.79875% 11,480,000.00 17,208.04 0.00 M-2 81743PAS5 SUB 2.57875% 4,920,000.00 10,572.88 0.00 X SMT03002X IO 0.00000% 0.00 686,038.20 0.00 R SMT03002R SUB 0.00000% 0.00 0.00 0.00 ------------------------------------------------------------------------------------------------ Totals 752,679,588.66 1,636,665.04 5,415,150.44 Ending Current Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss - ------------------------------------------------------------------------------------------------- A-1 81743PAP1 0.00 457,190,618.58 3,483,152.08 0.00 A-2 81743PAQ9 0.00 273,673,819.64 2,854,844.28 0.00 M-1 81743PAR7 0.00 11,480,000.00 17,208.04 0.00 M-2 81743PAS5 0.00 4,920,000.00 10,572.88 0.00 X SMT03002X 0.00 0.00 686,038.20 0.00 R SMT03002R 0.00 0.00 0.00 0.00 ------------------------------------------------------------------------------- Totals 0.00 747,264,438.22 7,051,815.48 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 Realized Total Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction - -------------------------------------------------------------------------------------------------------------------------- A-1 500,000,000.00 460,106,784.90 0.00 2,916,166.32 0.00 0.00 2,916,166.32 A-2 303,600,000.00 276,172,803.76 0.00 2,498,984.12 0.00 0.00 2,498,984.12 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 820,000,000.00 752,679,588.66 0.00 5,415,150.44 0.00 0.00 5,415,150.44 Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - ----------------------------------------------------------------------- A-1 457,190,618.58 0.91438124 2,916,166.32 A-2 273,673,819.64 0.90142892 2,498,984.12 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 747,264,438.22 0.91129810 5,415,150.44
(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 Total Principal Class Amount Balance Distribution Distribution Accretion Loss (3) Reduction - -------------------------------------------------------------------------------------------------------------------------- A-1 500,000,000.00 920.21356980 0.00000000 5.83233264 0.00000000 0.00000000 5.83233264 A-2 303,600,000.00 909.66009144 0.00000000 8.23117299 0.00000000 0.00000000 8.23117299 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 Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - ---------------------------------------------------------------- A-1 914.38123716 0.91438124 5.83233264 A-2 901.42891845 0.90142892 8.23117299 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 Non- Certificate/ Current Unpaid Current Supported Original Face Current Notional Accrued Interest Interest Interest Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall - ------------------------------------------------------------------------------------------------------------------------ A-1 500,000,000.00 1.47875% 460,106,784.90 566,985.76 0.00 0.00 0.00 A-2 303,600,000.00 1.54625% 276,172,803.76 355,860.16 0.00 0.00 0.00 M-1 11,480,000.00 1.79875% 11,480,000.00 17,208.04 0.00 0.00 0.00 M-2 4,920,000.00 2.57875% 4,920,000.00 10,572.88 0.00 0.00 0.00 X 0.00 0.00000% 752,679,588.66 0.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 ------------------------------------------------------------------------------------------------------------ Totals 820,000,000.00 950,626.84 0.00 0.00 0.00 Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance - ------------------------------------------------------------------- A-1 0.00 566,985.76 0.00 457,190,618.58 A-2 0.00 355,860.16 0.00 273,673,819.64 M-1 0.00 17,208.04 0.00 11,480,000.00 M-2 0.00 10,572.88 0.00 4,920,000.00 X 0.00 686,038.20 0.00 747,264,438.22 R 0.00 0.00 0.00 0.00 --------------------------------------------------------- Totals 0.00 1,636,665.04 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 Class Original Face Certificate Certificate/ Current Accrued Interest Interest Interest Realized (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall Loss (6) - ---------------------------------------------------------------------------------------------------------------------------------- A-1 500,000,000.00 1.47875% 920.21356980 1.13397152 0.00000000 0.00000000 0.00000000 0.00000000 A-2 303,600,000.00 1.54625% 909.66009144 1.17213491 0.00000000 0.00000000 0.00000000 0.00000000 M-1 11,480,000.00 1.79875% 1000.00000000 1.49895819 0.00000000 0.00000000 0.00000000 0.00000000 M-2 4,920,000.00 2.57875% 1000.00000000 2.14895935 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 917.90193739 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 Class Total Interest Interest Ending Certificate/ (5) Distribution Shortfall Notational Balance - ------------------------------------------------------------ A-1 1.13397152 0.00000000 914.38123716 A-2 1.17213491 0.00000000 901.42891845 M-1 1.49895819 0.00000000 1000.00000000 M-2 2.14895935 0.00000000 1000.00000000 X 0.83663195 0.00000000 911.29809539 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 7,297,158.45 Liquidations, Insurance Proceeds, Reserve Funds 30.20 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 16,095.03 Realized Losses 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 7,313,283.68 Withdrawals Reimbursement for Servicer Advances 19,902.64 Payment of Service Fee 241,565.56 Payment of Interest and Principal 7,051,815.48 ------------ Total Withdrawals (Pool Distribution Amount) 7,313,283.68 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 237,162.95 Master Servicing Fee 4,402.61 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 241,565.56 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ---------------------------------------------------------------------------- Reserve Fund 10,000.00 30.20 30.20 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 1 152,768.00 0-29 Days 0 0.00 30 Days 11 4,825,810.98 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 1,794,999.99 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 1 199,400.00 120 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 ------------------------ ---------------------- -------------------- 14 6,820,210.97 1 152,768.00 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 0.048054% 0.020388% 0-29 Days 0.000000% 0.000000% 30 Days 0.528592% 0.644030% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.096108% 0.239552% 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 0.048054% 0.026611% 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% --------------------- -------------------- -------------------- 0.672753% 0.910193% 0.048054% 0.020388% 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 1 152,768.00 30 Days 0 0.00 30 Days 11 4,825,810.98 60 Days 0 0.00 60 Days 2 1,794,999.99 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 1 199,400.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------------------- ------------------------ 0 0.00 15 6,972,978.97 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.048054% 0.020388% 30 Days 0.000000% 0.000000% 30 Days 0.528592% 0.644030% 60 Days 0.000000% 0.000000% 60 Days 0.096108% 0.239552% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.048054% 0.026611% 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% 0.720807% 0.930581%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 16,095.03
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 7 3,284,349.61 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 1 199,400.00 120 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 ----------------------- -------------------- -------------------- 8 3,483,749.61 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 0.558214% 0.701106% 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 0.079745% 0.042566% 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% --------------------- -------------------- -------------------- 0.637959% 0.743672% 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 7 3,284,349.61 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 1 199,400.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------------------- ------------------------ 0 0.00 8 3,483,749.61 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 0.558214% 0.701106% 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 0.079745% 0.042566% 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% 0.637959% 0.743672%
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 1 152,768.00 0-29 Days 0 0.00 30 Days 4 1,541,461.37 30 Days 0 0.00 30 Days 0 0.00 60 Days 2 1,794,999.99 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 ----------------------- --------------------- --------------------- 6 3,336,461.36 1 152,768.00 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 0.120919% 0.054393% 0-29 Days 0.000000% 0.000000% 30 Days 0.483676% 0.548832% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.241838% 0.639104% 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% --------------------- -------------------- --------------------- 0.725514% 1.187936% 0.120919% 0.054393% 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 1 152,768.00 30 Days 0 0.00 30 Days 4 1,541,461.37 60 Days 0 0.00 60 Days 2 1,794,999.99 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 7 3,489,229.36 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.120919% 0.054393% 30 Days 0.000000% 0.000000% 30 Days 0.483676% 0.548832% 60 Days 0.000000% 0.000000% 60 Days 0.241838% 0.639104% 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% 0.846433% 1.242328%
COLLATERAL STATEMENT Collateral Description Mixed Arm Weighted Average Gross Coupon 2.986289% Weighted Average Net Coupon 2.609206% Weighted Average Pass-Through Rate 2.602206% Weighted Average Maturity (Stepdown Calculation) 324 Beginning Scheduled Collateral Loan Count 2,097 Number of Loans Paid in Full 16 Ending Scheduled Collateral Loan Count 2,081 Beginning Scheduled Collateral Balance 754,729,588.66 Ending Scheduled Collateral Balance 749,314,438.22 Ending Actual Collateral Balance at 31-Dec-2003 749,314,819.84 Monthly P&I Constant 1,878,200.39 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 749,314,438.22 Scheduled Principal 0.00 Unscheduled Principal 5,415,150.44 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 686,008.00
MISCELLANEOUS REPORTING M-1 Target Amount 736,576,092.77 M-2 Target Amount 745,567,866.03 Senior Target Amount 715,595,288.50 Group 1 - One-Month LIBOR Loans 138,528,817.13 Group 1 - Six-Month LIBOR Loans 329,923,934.85 Group 2 - Six Month LIBOR Loans 280,861,686.24 Applied Loss Amountn 0
GROUP 1 2 TOTAL Collateral Description Mixed ARM 6 Month ARM Mixed ARM Weighted Average Coupon Rate 2.956381 3.036040 2.9862889 Weighted Average Net Rate 2.579531 2.658570 2.609206 Pass-Through Rate 2.572531 2.651570 2.602206 Weighted Average Maturity 318 331 324 Record Date 12/31/2003 12/31/2003 12/31/2003 Principal and Interest Constant 1,161,288.46 716,911.93 1,878,200.39 Beginning Loan Count 1,262 835 2,097 Loans Paid in Full 8 8 16 Ending Loan Count 1,254 827 2,081 Beginning Scheduled Balance 471,368,918.30 283,360,670.36 754,729,588.66 Ending Scheduled Balance 468,452,751.98 280,861,686.24 749,314,438.22 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 2,916,166.32 2,498,984.12 5,415,150.44 Scheduled Interest 1,161,288.46 716,911.93 1,878,200.39 Servicing Fee 148,029.51 89,133.44 237,162.95 Master Servicing Fee 2,749.67 1,652.94 4,402.61 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 1,010,509.28 626,125.55 1,636,634.83 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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