-----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, PZVkWNBmhQvEkkFZ1oU5UnbL1OP78sWSGvHfcvcT4m8NcB5w835APubq+s9CdsG/ AL4AenBF3tYZ3wWW4JKJJg== 0000950149-04-000569.txt : 20040308 0000950149-04-000569.hdr.sgml : 20040308 20040305183737 ACCESSION NUMBER: 0000950149-04-000569 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040220 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040308 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: 04653224 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 f97116ge8vk.txt FORM 8-K 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 February 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) 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, February 20, 2004. 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: March 5, 2004 SEQUOIA RESIDENTIAL FUNDING, INC. By: /s/ Harold F. Zagunis ----------------------------------- Harold F. Zagunis Chief Financial Officer, Treasurer and Secretary EXHIBIT INDEX
Exhibit Number Page Number - -------------- ----------- 10.1 Monthly Payment Date Statement relating to the distribution to Certificateholders, February 20, 2004............................ 5
EX-10.1 3 f97116gexv10w1.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: JANUARY 30, 2004 DISTRIBUTION DATE: FEBRUARY 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 1.43000% 457,190,618.58 544,818.82 3,700,716.05 A-2 81743PAQ9 SEN 1.54625% 273,673,819.64 352,640.12 2,028,964.04 M-1 81743PAR7 SUB 1.75000% 11,480,000.00 16,741.67 0.00 M-2 81743PAS5 SUB 2.53000% 4,920,000.00 10,373.00 0.00 X SMT03002X IO 0.00000% 0.00 700,005.17 0.00 R SMT03002R SUB 0.00000% 0.00 0.00 0.00 ------------------------------------------------------------------------------------------------ Totals 747,264,438.22 1,624,578.78 5,729,680.09 - -------------------------------------------------------------------------------------------------------- Current Ending Certificate Total Cumulative Class CUSIP Realized Loss Balance Distribution Realized Loss - -------------------------------------------------------------------------------------- A-1 81743PAP1 0.00 453,489,902.53 4,245,534.87 0.00 A-2 81743PAQ9 0.00 271,644,855.60 2,381,604.16 0.00 M-1 81743PAR7 0.00 11,480,000.00 16,741.67 0.00 M-2 81743PAS5 0.00 4,920,000.00 10,373.00 0.00 X SMT03002X 0.00 0.00 700,005.17 0.00 R SMT03002R 0.00 0.00 0.00 0.00 ------------------------------------------------------------------------------ Totals 0.00 741,534,758.13 7,354,258.87 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-1 500,000,000.00 457,190,618.58 0.00 3,700,716.05 0.00 0.00 3,700,716.05 A-2 303,600,000.00 273,673,819.64 0.00 2,028,964.04 0.00 0.00 2,028,964.04 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 820,000,000.00 747,264,438.22 0.00 5,729,680.09 0.00 0.00 5,729,680.09 - ------------------------------------------------------------------------------------------------------------------- Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - ------------------------------------------------------------------ A-1 453,489,902.53 0.90697981 3,700,716.05 A-2 271,644,855.60 0.89474590 2,028,964.04 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 741,534,758.13 0.90431068 5,729,680.09 - ------------------------------------------------------------------
(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-1 500,000,000.00 914.38123716 0.00000000 7.40143210 0.00000000 0.00000000 A-2 303,600,000.00 901.42891845 0.00000000 6.68301726 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 Principal Ending Certificate Ending Certificate Total Principal Class Reduction Balance Percentage Distribution - ----------------------------------------------------------------------------------- A-1 7.40143210 906.97980506 0.90697981 7.40143210 A-2 6.68301726 894.74590119 0.89474590 6.68301726 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 Non- Certificate/ Current Unpaid Current 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 1.43000% 457,190,618.58 544,818.82 0.00 0.00 0.00 0.00 A-2 303,600,000.00 1.54625% 273,673,819.64 352,640.12 0.00 0.00 0.00 0.00 M-1 11,480,000.00 1.75000% 11,480,000.00 16,741.67 0.00 0.00 0.00 0.00 M-2 4,920,000.00 2.53000% 4,920,000.00 10,373.00 0.00 0.00 0.00 0.00 X 0.00 0.00000% 747,264,438.22 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 820,000,000.00 924,573.61 0.00 0.00 0.00 0.00 - --------------------------------------------------------------------------------------------------------------------------------- Remaining Ending Unpaid Certificate/ Total Interest Interest Notational Class Distribution Shortfall Balance - ------------------------------------------------------- A-1 544,818.82 0.00 453,489,902.53 A-2 352,640.12 0.00 271,644,855.60 M-1 16,741.67 0.00 11,480,000.00 M-2 10,373.00 0.00 4,920,000.00 X 700,005.17 0.00 741,534,758.13 R 0.00 0.00 0.00 ---------------------------------------------- Totals 1,624,578.78 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-1 500,000,000.00 1.43000% 914.38123716 1.08963764 0.00000000 0.00000000 0.00000000 A-2 303,600,000.00 1.54625% 901.42891845 1.16152872 0.00000000 0.00000000 0.00000000 M-1 11,480,000.00 1.75000% 1000.00000000 1.45833362 0.00000000 0.00000000 0.00000000 M-2 4,920,000.00 2.53000% 1000.00000000 2.10833333 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 911.29809539 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 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 1.08963764 0.00000000 906.97980506 A-2 0.00000000 1.16152872 0.00000000 894.74590119 M-1 0.00000000 1.45833362 0.00000000 1000.00000000 M-2 0.00000000 2.10833333 0.00000000 1000.00000000 X 0.00000000 0.85366484 0.00000000 904.31068065 R 0.00000000 0.00000000 0.00000000 0.00000000 - ---------------------------------------------------------------------
(5) Per $1 denomination (6) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 7,599,330.62 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 10,863.09 Realized Losses 0.00 Prepayment Penalties 0.00 ------------ Total Deposits 7,610,193.71 Withdrawals Reimbursement for Servicer Advances 16,095.03 Payment of Service Fee 239,839.80 Payment of Interest and Principal 7,354,258.88 ------------ Total Withdrawals (Pool Distribution Amount) 7,610,193.71 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 235,468.77 Master Servicing Fee 4,371.03 Supported Prepayment/Curtailment Interest Shortfall 0.00 ------------ Net Servicing Fee 239,839.80 ============
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 1 152,768.00 0-29 Days 0 0.00 30 Days 12 4,433,030.53 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 1 199,400.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- ------------ -------- ---------- -------- -------- 13 4,632,430.53 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 0.048403% 0.020545% 0-29 Days 0.000000% 0.000000% 30 Days 0.580833% 0.596170% 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 0.048403% 0.026816% 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% -------- ------------ -------- -------- -------- -------- 0.629235% 0.622986% 0.048403% 0.020545% 0.000000% 0.000000% Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 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 12 4,433,030.53 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 1 199,400.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- ----------- ------------ 0 0.00 14 4,785,198.53 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.048403% 0.020545% 30 Days 0.000000% 0.000000% 30 Days 0.580833% 0.596170% 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 0.048403% 0.026816% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- ----------- 0.000000% 0.000000% 0.677638% 0.643530% Periodic Advance 10,863.09
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 1,194,063.97 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 1 199,400.00 150 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 1,393,463.97 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 0.401929% 0.256925% 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 0.080386% 0.042905% 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% -------- ------------ -------- -------- -------- -------- 0.482315% 0.299829% 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 1,194,063.97 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 1 199,400.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- --------- ------------ 0 0.00 6 1,393,463.97 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 0.401929% 0.256925% 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 0.080386% 0.042905% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- ------------ 0.000000% 0.000000% 0.482315% 0.299829%
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 7 3,238,966.56 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 -------- ------------ -------- ---------- -------- -------- 7 3,238,966.56 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 0.121655% 0.054788% 0-29 Days 0.000000% 0.000000% 30 Days 0.851582% 1.161615% 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% -------- ------------ -------- ---------- -------- --------- 0.851582% 1.161615% 0.121655% 0.054788% 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 7 3,238,966.56 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 8 3,391,734.56 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.121655% 0.054788% 30 Days 0.000000% 0.000000% 30 Days 0.851582% 1.161615% 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% 0.973236% 1.216403%
COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 2.985799% Weighted Average Net Coupon 2.608704% Weighted Average Pass-Through Rate 2.601704% Weighted Average Maturity (Stepdown Calculation) 323 Beginning Scheduled Collateral Loan Count 2,081 Number of Loans Paid in Full 15 Ending Scheduled Collateral Loan Count 2,066 Beginning Scheduled Collateral Balance 749,314,438.22 Ending Scheduled Collateral Balance 743,584,758.13 Ending Actual Collateral Balance at 30-Jan-2004 743,585,530.62 Monthly P&I Constant 1,864,418.56 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 743,584,758.13 Scheduled Principal 0.00 Unscheduled Principal 5,729,680.09 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 700,005.18
MISCELLANEOUS REPORTING Applied Loss Amount 0.00 Group 1 - One-Month LIBOR Loans 138,389,351.91 Group 1 - Six-Month LIBOR Loans 326,362,684.02 Group 2 - Six Month LIBOR Loans 278,832,722.20 M-1 Target Amount 730,943,817.24 M-2 Target Amount 739,866,834.34 Senior Target Amount 710,123,444.01
GROUP 1 2 TOTAL Collateral Description Mixed ARM 6 Month ARM Mixed ARM Weighted Average Coupon Rate 2.955695 3.036010 2.985799 Weighted Average Net Rate 2.578837 2.658520 2.608704 Pass-Through Rate 2.571837 2.651520 2.601704 Weighted Average Maturity 317 330 323 Record Date 01/30/2004 01/30/2004 01/30/2004 Principal and Interest Constant 1,153,836.14 710,582.42 1,864,418.56 Beginning Loan Count 1,254 827 2,081 Loans Paid in Full 10 5 15 Ending Loan Count 1,244 822 2,066 Beginning Scheduled Balance 468,452,751.98 280,861,686.24 749,314,438.22 Ending Scheduled Balance 464,752,035.93 278,832,722.20 743,584,758.13 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 3,700,716.05 2,028,964.04 5,729,680.09 Scheduled Interest 1,153,836.14 710,582.42 1,864,418.56 Servicing Fee 147,116.60 88,352.17 235,468.77 Master Servicing Fee 2,732.66 1,638.37 4,371.03 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 1,003,986.88 620,591.88 1,624,578.76 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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