-----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, PWnHObVG3GlkhumkTAi9g+ssg60vIDf3RjaSNmCmuRBubTIY9MLd0kQQ0LDtJR+l u7exjvkYIcJI/VJp6FjMTQ== 0000950149-04-000330.txt : 20040209 0000950149-04-000330.hdr.sgml : 20040209 20040206184908 ACCESSION NUMBER: 0000950149-04-000330 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: 04575628 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 f96263ie8vk.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 2003-3, the Issuer of Mortgage Pass-
Through Certificates under a Pooling and Servicing Agreement dated as of June 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 2003-3 (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 f96263iexv10w1.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 2003-3 RECORD DATE: DECEMBER 31, 2003 DISTRIBUTION DATE: JANUARY 20, 2004 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Class Certificate Pass- Certificate Interest Principal Current Class CUSIP Description Through Rate Balance Distribution Distribution Realized Loss - ------------------------------------------------------------------------------------------------------------ A-1 81743PAT3 SEN 1.47875% 357,534,416.61 440,586.68 4,897,150.44 0.00 A-2 81743PAU0 SEN 1.57000% 141,088,672.77 184,591.01 1,653,764.16 0.00 X-1A 81743PAV8 IO 0.90369% 0.00 73,037.39 0.00 0.00 X-1B 81743PAW6 IO 1.17179% 0.00 254,439.32 0.00 0.00 X-2 81743PAX4 IO 1.06843% 0.00 125,626.04 0.00 0.00 X-B 81743PAY2 IO 0.79624% 0.00 6,028.60 0.00 0.00 A-R 81743PBA3 R 2.42075% 0.00 0.00 0.00 0.00 B-1 81743PBB1 SUB 1.79875% 9,075,000.00 13,603.05 0.00 0.00 B-2 81743PBC9 SUB 2.59499% 4,675,000.00 10,109.63 0.00 0.00 B-3 81743PBD7 SUB 2.59499% 2,475,000.00 5,352.16 0.00 0.00 B-4 81743PBE5 SUB 2.59499% 1,650,000.00 3,568.10 0.00 0.00 B-5 81743PBF2 SUB 2.59499% 825,000.00 1,784.05 0.00 0.00 B-6 81743PBG0 SUB 2.59499% 1,925,608.17 4,164.10 0.00 0.00 - ------------------------------------------------------------------------------------------------------- Totals 519,248,697.55 1,122,890.13 6,550,914.60 0.00 - ------------------------------------------------------------------------------------------------------- Ending Certificate Total Cumulative Class CUSIP Balance Distribution Realized Loss - ------------------------------------------------------------------ A-1 81743PAT3 352,637,266.17 5,337,737.12 0.00 A-2 81743PAU0 139,434,908.61 1,838,355.17 0.00 X-1A 81743PAV8 0.00 73,037.39 0.00 X-1B 81743PAW6 0.00 254,439.32 0.00 X-2 81743PAX4 0.00 125,626.04 0.00 X-B 81743PAY2 0.00 6,028.60 0.00 A-R 81743PBA3 0.00 0.00 0.00 B-1 81743PBB1 9,075,000.00 13,603.05 0.00 B-2 81743PBC9 4,675,000.00 10,109.63 0.00 B-3 81743PBD7 2,475,000.00 5,352.16 0.00 B-4 81743PBE5 1,650,000.00 3,568.10 0.00 B-5 81743PBF2 825,000.00 1,784.05 0.00 B-6 81743PBG0 1,925,608.17 4,164.10 0.00 - ------------------------------------------------------------- Totals 512,697,782.95 7,673,804.73 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-1 379,455,000.00 357,534,416.61 0.00 4,897,150.44 0.00 0.00 4,897,150.44 A-2 149,922,000.00 141,088,672.77 0.00 1,653,764.16 0.00 0.00 1,653,764.16 X-1A 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-1B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X-B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 B-1 9,075,000.00 9,075,000.00 0.00 0.00 0.00 0.00 0.00 B-2 4,675,000.00 4,675,000.00 0.00 0.00 0.00 0.00 0.00 B-3 2,475,000.00 2,475,000.00 0.00 0.00 0.00 0.00 0.00 B-4 1,650,000.00 1,650,000.00 0.00 0.00 0.00 0.00 0.00 B-5 825,000.00 825,000.00 0.00 0.00 0.00 0.00 0.00 B-6 1,925,608.17 1,925,608.17 0.00 0.00 0.00 0.00 0.00 - ------------------------------------------------------------------------------------------------------- Totals 550,002,708.17 519,248,697.55 0.00 6,550,914.60 0.00 0.00 6,550,914.60 - ------------------------------------------------------------------------------------------------------- Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - ---------------------------------------------------------------------- A-1 352,637,266.17 0.92932565 4,897,150.44 A-2 139,434,908.61 0.93004968 1,653,764.16 X-1A 0.00 0.00000000 0.00 X-1B 0.00 0.00000000 0.00 X-2 0.00 0.00000000 0.00 X-B 0.00 0.00000000 0.00 A-R 0.00 0.00000000 0.00 B-1 9,075,000.00 1.00000000 0.00 B-2 4,675,000.00 1.00000000 0.00 B-3 2,475,000.00 1.00000000 0.00 B-4 1,650,000.00 1.00000000 0.00 B-5 825,000.00 1.00000000 0.00 B-6 1,925,608.17 1.00000000 0.00 - -------------------------------------------------------------------- Totals 512,697,782.95 0.93217320 6,550,914.60 - --------------------------------------------------------------------
(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-1 379,455,000.00 942.23140191 0.00000000 12.90574756 0.00000000 0.00000000 12.90574756 A-2 149,922,000.00 941.08051367 0.00000000 11.03083043 0.00000000 0.00000000 11.03083043 X-1A 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-1B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-B 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,075,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-2 4,675,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-3 2,475,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-4 1,650,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-5 825,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-6 1,925,608.17 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - ----------------------------------------------------------------- A-1 929.32565435 0.92932565 12.90574756 A-2 930.04968324 0.93004968 11.03083043 X-1A 0.00000000 0.00000000 0.00000000 X-1B 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 X-B 0.00000000 0.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 B-1 1000.00000000 1.00000000 0.00000000 B-2 1000.00000000 1.00000000 0.00000000 B-3 1000.00000000 1.00000000 0.00000000 B-4 1000.00000000 1.00000000 0.00000000 B-5 1000.00000000 1.00000000 0.00000000 B-6 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 Non- Certificate/ Current Unpaid Current Supported Original Face Current Notional Accrued Interest Interest Interest Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall - -------------------------------------------------------------------------------------------------------- A-1 379,455,000.00 1.47875% 357,534,416.61 440,586.68 0.00 0.00 0.00 A-2 149,922,000.00 1.57000% 141,088,672.77 184,591.01 0.00 0.00 0.00 X-1A 0.00 0.90369% 96,981,099.84 73,034.23 0.00 0.00 0.00 X-1B 0.00 1.17179% 260,553,316.77 254,428.31 0.00 0.00 0.00 X-2 0.00 1.06843% 141,088,672.77 125,618.96 0.00 0.00 0.00 X-B 0.00 0.79624% 9,075,000.00 6,021.52 0.00 0.00 0.00 A-R 100.00 2.42075% 0.00 0.00 0.00 0.00 0.00 B-1 9,075,000.00 1.79875% 9,075,000.00 13,603.05 0.00 0.00 0.00 B-2 4,675,000.00 2.59499% 4,675,000.00 10,109.63 0.00 0.00 0.00 B-3 2,475,000.00 2.59499% 2,475,000.00 5,352.16 0.00 0.00 0.00 B-4 1,650,000.00 2.59499% 1,650,000.00 3,568.10 0.00 0.00 0.00 B-5 825,000.00 2.59499% 825,000.00 1,784.05 0.00 0.00 0.00 B-6 1,925,608.17 2.59499% 1,925,608.17 4,164.10 0.00 0.00 0.00 - ----------------------------------------------------------------------------------------------------- Totals 550,002,708.17 1,122,861.80 0.00 0.00 0.00 - ----------------------------------------------------------------------------------------------------- Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance - ------------------------------------------------------------- A-1 0.00 440,586.68 0.00 352,637,266.17 A-2 0.00 184,591.01 0.00 139,434,908.61 X-1A 0.00 73,037.39 0.00 96,827,908.54 X-1B 0.00 254,439.32 0.00 255,809,357.63 X-2 0.00 125,626.04 0.00 139,434,908.61 X-B 0.00 6,028.60 0.00 9,075,000.00 A-R 0.00 0.00 0.00 0.00 B-1 0.00 13,603.05 0.00 9,075,000.00 B-2 0.00 10,109.63 0.00 4,675,000.00 B-3 0.00 5,352.16 0.00 2,475,000.00 B-4 0.00 3,568.10 0.00 1,650,000.00 B-5 0.00 1,784.05 0.00 825,000.00 B-6 0.00 4,164.10 0.00 1,925,608.17 - ------------------------------------------------------------- Totals 0.00 1,122,890.13 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 (5) Amount Rate Notional Balance Interest Shortfall Shortfall Shortfall - --------------------------------------------------------------------------------------------------------- A-1 379,455,000.00 1.47875% 942.23140191 1.16110390 0.00000000 0.00000000 0.00000000 A-2 149,922,000.00 1.57000% 941.08051367 1.23124698 0.00000000 0.00000000 0.00000000 X-1A 0.00 0.90369% 961.81241115 0.72431875 0.00000000 0.00000000 0.00000000 X-1B 0.00 1.17179% 935.14518832 0.91316208 0.00000000 0.00000000 0.00000000 X-2 0.00 1.06843% 941.08051367 0.83789544 0.00000000 0.00000000 0.00000000 X-B 0.00 0.79624% 1000.00000000 0.66352837 0.00000000 0.00000000 0.00000000 A-R 100.00 2.42075% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,075,000.00 1.79875% 1000.00000000 1.49895868 0.00000000 0.00000000 0.00000000 B-2 4,675,000.00 2.59499% 1000.00000000 2.16248770 0.00000000 0.00000000 0.00000000 B-3 2,475,000.00 2.59499% 1000.00000000 2.16248889 0.00000000 0.00000000 0.00000000 B-4 1,650,000.00 2.59499% 1000.00000000 2.16248485 0.00000000 0.00000000 0.00000000 B-5 825,000.00 2.59499% 1000.00000000 2.16248485 0.00000000 0.00000000 0.00000000 B-6 1,925,608.17 2.59499% 1000.00000000 2.16248563 0.00000000 0.00000000 0.00000000 Remaining Unpaid Class Realized Total Interest Interest Ending Certificate/ (5) Loss (6) Distribution Shortfall Notational Balance - -------------------------------------------------------------------- A-1 0.00000000 1.16110390 0.00000000 929.32565435 A-2 0.00000000 1.23124698 0.00000000 930.04968324 X-1A 0.00000000 0.72435009 0.00000000 960.29313272 X-1B 0.00000000 0.91320160 0.00000000 918.11876694 X-2 0.00000000 0.83794266 0.00000000 930.04968324 X-B 0.00000000 0.66430854 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1.49895868 0.00000000 1000.00000000 B-2 0.00000000 2.16248770 0.00000000 1000.00000000 B-3 0.00000000 2.16248889 0.00000000 1000.00000000 B-4 0.00000000 2.16248485 0.00000000 1000.00000000 B-5 0.00000000 2.16248485 0.00000000 1000.00000000 B-6 0.00000000 2.16248563 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 7,840,126.10 Liquidations, Insurance Proceeds, Reserve Funds 28.33 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 8,158.18 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 7,848,312.61 Withdrawals Reimbursement for Servicer Advances 7,592.67 Payment of Service Fee 166,915.21 Payment of Interest and Principal 7,673,804.73 ------------ Total Withdrawals (Pool Distribution Amount) 7,848,312.61 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 162,588.14 Master Servicing Fee 4,327.07 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 166,915.21 ==========
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance - ------------ --------- ----------- -------- -------- Reserve Fund 5,000.00 14.17 14.17 5,000.00 Reserve Fund 2,500.00 7.08 7.08 2,500.00 Reserve Fund 2,500.00 7.08 7.08 2,500.00
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 8 3,404,426.38 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 332,848.86 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 ------------------------ --------------------- ---------------------- 9 3,737,275.24 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 0.527357% 0.664021% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.065920% 0.064921% 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% ------------------------ --------------------- ---------------------- 0.593276% 0.728942% 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 8 3,404,426.38 60 Days 0 0.00 60 Days 1 332,848.86 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 9 3,737,275.24 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 0.527357% 0.664021% 60 Days 0.000000% 0.000000% 60 Days 0.065920% 0.064921% 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% 0.593276% 0.728942%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 8,158.18
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
Original $ Original % Current $ Current % Current Class % Prepayment % ------------- ---------- ------------- ----------- --------------- ------------ Class A 20,625,608.17 3.75009211% 20,625,608.17 4.02295638% 95.977044% 0.000000% Class X-1-A 20,625,608.17 3.75009211% 20,625,608.17 4.02295638% 0.000000% 0.000000% Class X-1-B 20,625,608.17 3.75009211% 20,625,608.17 4.02295638% 0.000000% 0.000000% Class X-2 20,625,608.17 3.75009211% 20,625,608.17 4.02295638% 0.000000% 0.000000% Class B-1 11,550,608.17 2.10010024% 11,550,608.17 2.25290777% 1.770049% 43.998703% Class B-2 6,875,608.17 1.25010442% 6,875,608.17 1.34106454% 0.911843% 22.665998% Class B-3 4,400,608.17 0.80010664% 4,400,608.17 0.85832401% 0.482741% 11.999646% Class B-4 2,750,608.17 0.50010811% 2,750,608.17 0.53649699% 0.321827% 7.999764% Class B-5 1,925,608.17 0.35010885% 1,925,608.17 0.37558348% 0.160914% 3.999882% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.375583% 9.336007%
Please refer to the prospectus supplement for a full description of loss exposure 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 5 1,597,229.28 30 Days 0 0.00 30 Days 0 0.00 60 Days 1 332,848.86 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 1,930,078.14 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 0.464253% 0.434712% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.092851% 0.090590% 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% ----------------------- --------------------- ---------------------- 0.557103% 0.525303% 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 1,597,229.28 60 Days 0 0.00 60 Days 1 332,848.86 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 6 1,930,078.14 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 0.464253% 0.434712% 60 Days 0.000000% 0.000000% 60 Days 0.092851% 0.090590% 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% 0.557103% 0.525303%
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 3 1,807,197.10 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 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 1,807,197.10 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 0.681818% 1.243969% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% ----------------------- -------------------- -------------------- 0.681818% 1.243969% 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 1,807,197.10 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------------------- ----------------------- 0 0.00 3 1,807,197.10 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 0.681818% 1.243969% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------------------- ----------------------- 0.000000% 0.000000% 0.681818% 1.243969%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 2.980715% Weighted Average Net Coupon 2.604969% Weighted Average Pass-Through Rate 2.594969% Weighted Average Maturity (Stepdown Calculation) 351 Beginning Scheduled Collateral Loan Count 1,526 Number of Loans Paid in Full 9 Ending Scheduled Collateral Loan Count 1,517 Beginning Scheduled Collateral Balance 519,248,697.55 Ending Scheduled Collateral Balance 512,697,782.95 Ending Actual Collateral Balance at 31-Dec-2003 512,698,917.85 Monthly P&I Constant 1,289,777.02 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 7,629,173.80 Ending Scheduled Balance for Premium Loans 512,697,782.95 Scheduled Principal 0.00 Unscheduled Principal 6,550,914.60
MISCELLANEOUS REPORTING Group 1 One Month Libor Loan Balance 00,887,301.22 Group 1 Six Month Libor Loan Balance 66,533,854.82 Group 2 Six Month Libor Loan Balance 45,276,626.91 Pro-Rata Senior Percent 96.027798% Group 1 Senior Percent 100.000000% Group 2 Senior Percent 100.000000% Group 1 Senior Prepayment Percent 100.000000% Group 2 Senior Prepayment Percent 100.000000%
GROUP 1 2 TOTAL Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 2.963860 3.023426 2.980715 Weighted Average Net Rate 2.587819 2.648426 2.604969 Pass-Through Rate 2.577819 2.638426 2.594969 Weighted Average Maturity 326 330 351 Record Date 12/31/2003 12/31/2003 12/31/2003 Principal and Interest Constant 919,582.76 370,194.26 1,289,777.02 Beginning Loan Count 1,083 443 1.526 Loans Paid in Full 6 3 9 Ending Loan Count 1,077 440 1,517 Beginning Scheduled Balance 372,318,306.48 146,930,391.07 519,248,697.55 Ending Scheduled Balance 367,421,156.04 145,276,626.91 512,697,782.95 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 4,897,150.44 1,653,764.16 6,550,914.60 Scheduled Interest 919,582.76 370,194.26 1,289,777.02 Servicing Fee 116,672.39 45,915.75 162,588.14 Master Servicing Fee 3,102.66 1,224.41 4,327.07 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 799,807.71 323,054.10 1,122,861.81 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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