8-K 1 abs03he3.txt AUGUST 8-K UNITED STATES 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 Date of Report (Date of earliest event reported): August 15, 2003 ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2003-HE3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-86750-05 54-2116934 Pooling and Servicing Agreement) (Commission 54-2116935 (State or other File Number) 54-2116936 jurisdiction 54-2116937 of Incorporation) 54-2116938 54-2116939 54-2116940 IRS EIN c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On August 15, 2003 a distribution was made to holders of ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2003-HE3 Trust . ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2003-HE3 Trust, relating to the August 15, 2003 distribution. 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 hereunto duly authorized. ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2003-HE3 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 8/26/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2003-HE3 Trust, relating to the August 15, 2003 distribution.
Asset Backed Securities Corp Home Equity Loan Trust Asset Backed Pass-Through Certificates Record Date: 7/31/03 Distribution Date: 8/15/03 ABSC Series: 2003-HE3 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-IO 04541GEK4 SEN IO 4.00000% 0.00 154,666.67 0.00 B-IO 04541GED0 SUB IO 3.50000% 0.00 151,666.67 0.00 A-INV-IO 04541GEC2 SEN IO 0.20312% 0.00 100,502.65 0.00 A1 04541GEH1 SEN 1.43688% 300,301,778.90 371,567.40 4,413,887.72 A2 04541GEJ7 SEN 1.45688% 194,194,506.76 243,623.91 2,969,745.83 M1 04541GEL2 MEZ 1.93688% 39,440,000.00 65,780.75 0.00 M2 04541GEM0 MEZ 3.10688% 33,380,000.00 89,303.81 0.00 M3 04541GEN8 MEZ 3.45688% 10,620,000.00 31,613.17 0.00 M4 04541GEP3 MEZ 5.10688% 15,200,000.00 66,843.38 0.00 M5 04541GEQ1 MEZ 5.10688% 9,112,000.00 40,070.85 0.00 X 04541GEE8 SUB OC 0.00000% 0.01 0.47 0.00 P 04541GEF5 SEN 0.00000% 100.00 86,302.47 0.00 Totals 602,248,385.67 1,401,942.20 7,383,633.55
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 154,666.67 0.00 B-IO 0.00 0.00 151,666.67 0.00 A-INV-IO 0.00 0.00 100,502.65 0.00 A1 0.00 295,887,891.18 4,785,455.12 0.00 A2 0.00 191,224,760.93 3,213,369.74 0.00 M1 0.00 39,440,000.00 65,780.75 0.00 M2 0.00 33,380,000.00 89,303.81 0.00 M3 0.00 10,620,000.00 31,613.17 0.00 M4 0.00 15,200,000.00 66,843.38 0.00 M5 0.00 9,112,000.00 40,070.85 0.00 X 0.00 0.01 0.47 0.00 P 0.00 100.00 86,302.47 0.00 Totals 0.00 594,864,752.12 8,785,575.75 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 Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-IO 0.00 0.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 A-INV-IO 0.00 0.00 0.00 0.00 0.00 0.00 A1 302,800,000.00 300,301,778.90 0.00 4,413,887.72 0.00 0.00 A2 196,200,000.00 194,194,506.76 0.00 2,969,745.83 0.00 0.00 M1 39,440,000.00 39,440,000.00 0.00 0.00 0.00 0.00 M2 33,380,000.00 33,380,000.00 0.00 0.00 0.00 0.00 M3 10,620,000.00 10,620,000.00 0.00 0.00 0.00 0.00 M4 15,200,000.00 15,200,000.00 0.00 0.00 0.00 0.00 M5 9,112,000.00 9,112,000.00 0.00 0.00 0.00 0.00 X 0.01 0.01 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 606,752,100.01 602,248,385.67 0.00 7,383,633.55 0.00 0.00 (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 Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-IO 0.00 0.00 0.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 A-INV-IO 0.00 0.00 0.00000000 0.00 A1 4,413,887.72 295,887,891.18 0.97717269 4,413,887.72 A2 2,969,745.83 191,224,760.93 0.97464200 2,969,745.83 M1 0.00 39,440,000.00 1.00000000 0.00 M2 0.00 33,380,000.00 1.00000000 0.00 M3 0.00 10,620,000.00 1.00000000 0.00 M4 0.00 15,200,000.00 1.00000000 0.00 M5 0.00 9,112,000.00 1.00000000 0.00 X 0.00 0.01 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 7,383,633.55 594,864,752.12 0.98040823 7,383,633.55
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-INV-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A1 302,800,000.00 991.74960007 0.00000000 14.57690793 0.00000000 A2 196,200,000.00 989.77832192 0.00000000 15.13631922 0.00000000 M1 39,440,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 33,380,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 10,620,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 15,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 9,112,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 0.01 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-INV-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 14.57690793 977.17269214 0.97717269 14.57690793 A2 0.00000000 15.13631922 974.64200270 0.97464200 15.13631922 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-IO 0.00 4.00000% 46,400,000.00 154,666.67 0.00 0.00 B-IO 0.00 3.50000% 52,000,000.00 151,666.67 0.00 0.00 A-INV-IO 0.00 0.20312% 574,600,000.00 100,502.65 0.00 0.00 A1 302,800,000.00 1.43688% 300,301,778.90 371,567.40 0.00 0.00 A2 196,200,000.00 1.45688% 194,194,506.76 243,623.91 0.00 0.00 M1 39,440,000.00 1.93688% 39,440,000.00 65,780.75 0.00 0.00 M2 33,380,000.00 3.10688% 33,380,000.00 89,303.81 0.00 0.00 M3 10,620,000.00 3.45688% 10,620,000.00 31,613.17 0.00 0.00 M4 15,200,000.00 5.10688% 15,200,000.00 66,843.38 0.00 0.00 M5 9,112,000.00 5.10688% 9,112,000.00 40,070.85 0.00 0.00 X 0.01 0.00000% 0.01 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 606,752,100.01 1,315,639.26 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-IO 0.00 0.00 154,666.67 0.00 45,400,000.00 B-IO 0.00 0.00 151,666.67 0.00 52,000,000.00 A-INV-IO 0.00 0.00 100,502.65 0.00 550,200,000.00 A1 0.00 0.00 371,567.40 0.00 295,887,891.18 A2 0.00 0.00 243,623.91 0.00 191,224,760.93 M1 0.00 0.00 65,780.75 0.00 39,440,000.00 M2 0.00 0.00 89,303.81 0.00 33,380,000.00 M3 0.00 0.00 31,613.17 0.00 10,620,000.00 M4 0.00 0.00 66,843.38 0.00 15,200,000.00 M5 0.00 0.00 40,070.85 0.00 9,112,000.00 X 0.00 0.00 0.47 0.00 0.01 P 0.00 0.00 86,302.47 0.00 100.00 Totals 0.00 0.00 1,401,942.20 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-IO 0.00 4.00000% 976.84210526 3.25614042 0.00000000 0.00000000 B-IO 0.00 3.50000% 1000.00000000 2.91666673 0.00000000 0.00000000 A-INV-IO 0.00 0.20312% 957.66666667 0.16750442 0.00000000 0.00000000 A1 302,800,000.00 1.43688% 991.74960007 1.22710502 0.00000000 0.00000000 A2 196,200,000.00 1.45688% 989.77832192 1.24171208 0.00000000 0.00000000 M1 39,440,000.00 1.93688% 1000.00000000 1.66786891 0.00000000 0.00000000 M2 33,380,000.00 3.10688% 1000.00000000 2.67536878 0.00000000 0.00000000 M3 10,620,000.00 3.45688% 1000.00000000 2.97675800 0.00000000 0.00000000 M4 15,200,000.00 5.10688% 1000.00000000 4.39759079 0.00000000 0.00000000 M5 9,112,000.00 5.10688% 1000.00000000 4.39759109 0.00000000 0.00000000 X 0.01 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-IO 0.00000000 0.00000000 3.25614042 0.00000000 955.78947368 B-IO 0.00000000 0.00000000 2.91666673 0.00000000 1000.00000000 A-INV-IO 0.00000000 0.00000000 0.16750442 0.00000000 917.00000000 A1 0.00000000 0.00000000 1.22710502 0.00000000 977.17269214 A2 0.00000000 0.00000000 1.24171208 0.00000000 974.64200270 M1 0.00000000 0.00000000 1.66786891 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.67536878 0.00000000 1000.00000000 M3 0.00000000 0.00000000 2.97675800 0.00000000 1000.00000000 M4 0.00000000 0.00000000 4.39759079 0.00000000 1000.00000000 M5 0.00000000 0.00000000 4.39759109 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 863024.70000000 0.00000000 1000.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,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 8,903,675.87 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 93,197.12 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 86,302.47 Total Deposits 9,083,175.46 Withdrawals Reimbursement for Servicer Advances 35,171.23 Payment of Service Fee 262,428.48 Payment of Interest and Principal 8,785,575.75 Total Withdrawals (Pool Distribution Amount) 9,083,175.46 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 250,936.98 Strip Amount 11,491.50 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 262,428.48
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 0.47 0.47 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 2 0 3 31,868.45 462,942.82 0.00 494,811.27 30 Days 67 0 0 0 67 9,195,967.86 0.00 0.00 0.00 9,195,967.86 60 Days 18 0 1 0 19 2,638,751.69 0.00 136,277.66 0.00 2,775,029.35 90 Days 4 0 0 0 4 513,863.35 0.00 0.00 0.00 513,863.35 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 89 1 3 0 93 12,348,582.90 31,868.45 599,220.48 0.00 12,979,671.83 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.026212% 0.052425% 0.000000% 0.078637% 0.005337% 0.077525% 0.000000% 0.082862% 30 Days 1.756225% 0.000000% 0.000000% 0.000000% 1.756225% 1.539971% 0.000000% 0.000000% 0.000000% 1.539971% 60 Days 0.471822% 0.000000% 0.026212% 0.000000% 0.498034% 0.441889% 0.000000% 0.022821% 0.000000% 0.464711% 90 Days 0.104849% 0.000000% 0.000000% 0.000000% 0.104849% 0.086052% 0.000000% 0.000000% 0.000000% 0.086052% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.332896% 0.026212% 0.078637% 0.000000% 2.437746% 2.067913% 0.005337% 0.100346% 0.000000% 2.173596%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 93,197.12
COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 7.700888% Weighted Average Net Coupon 7.200888% Weighted Average Pass-Through Rate 7.200888% Weighted Average Maturity(Stepdown Calculation ) 351 Beginning Scheduled Collateral Loan Count 3,841 Number Of Loans Paid In Full 26 Ending Scheduled Collateral Loan Count 3,815 Beginning Scheduled Collateral Balance 602,248,773.24 Ending Scheduled Collateral Balance 597,151,947.36 Ending Actual Collateral Balance at 31-Jul-2003 597,151,947.36 Monthly P &I Constant 4,343,965.35 Special Servicing Fee 0.00 Prepayment Penalties 86,302.47 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 597,151,947.36 Scheduled Principal 479,032.22 Unscheduled Principal 4,617,793.66 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 14,258,683.44 Overcollateralized Amount 387.58 Overcollateralized Deficiency Amount 14,258,295.86 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 2,286,807.67
Miscellaneous Reporting Overcollateralized Amount 387.58 Overcollateralization Deficiency Amount 14,258,295.86 Overcollateralization Release Amount 0.00 Overcollateralization Target Amount 14,258,683.44 A1 PTR (excl CAP) for Next Distribution 1.440% A2 PTR (excl CAP) for Next Distribution 1.460% M1 PTR (excl CAP) for Next Distribution 1.940% M2 PTR (excl CAP) for Next Distribution 3.110% M3 PTR (excl CAP) for Next Distribution 3.460% M4 PTR (excl CAP) for Next Distribution 5.110% M5 PTR (excl CAP) for Next Distribution 5.110% Overcollateralization Increase $2,286,807.67 Percentage of PPP being passed 93.750% Has a Stepdown Date occurred? If so, wh NO Did a Trigger Event occur? NO
Group Level Collateral Statement Group Sub Group 1 Sub Group 1 Sub Group 1 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.686721 7.559362 7.941582 Weighted Average Net Rate 7.186721 7.059362 7.441582 Weighted Average Maturity (2) (2) (2) Beginning Loan Count 1,904 103 473 Loans Paid In Full 15 0 2 Ending Loan Count 1,889 103 471 Beginning Scheduled Balance 292,237,954.63 14,909,645.19 58,521,844.60 Ending scheduled Balance 289,701,298.60 14,897,814.00 58,023,482.73 Record Date 07/31/2003 07/31/2003 07/31/2003 Principal And Interest Constant 2,089,873.48 105,277.50 442,888.44 Scheduled Principal 217,913.81 11,354.66 55,591.76 Unscheduled Principal 2,318,742.22 476.53 442,770.11 Scheduled Interest 1,871,959.67 93,922.84 387,296.68 Servicing Fees 121,765.82 6,212.35 24,384.10 Master Servicing Fees 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 Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,750,193.85 87,710.49 362,912.58 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 Pass-Through Rate 7.186721 7.059362 7.441582
Group Level Collateral Statement Group Sub Group 2 Sub Group 2 Sub Group 2 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.479759 7.379049 8.177914 Weighted Average Net Rate 6.979759 6.879050 7.677914 Weighted Average Maturity (2) (2) (2) Beginning Loan Count 762 33 566 Loans Paid In Full 7 1 1 Ending Loan Count 755 32 565 Beginning Scheduled Balance 165,915,410.83 5,991,019.29 64,672,898.70 Ending scheduled Balance 164,031,275.17 5,919,051.06 64,579,025.80 Record Date 07/31/2003 07/31/2003 07/31/2003 Principal And Interest Constant 1,162,342.41 41,571.48 502,012.04 Scheduled Principal 128,169.66 4,731.46 61,270.87 Unscheduled Principal 1,755,966.00 67,236.77 32,602.03 Scheduled Interest 1,034,172.75 36,840.02 440,741.17 Servicing Fees 69,131.42 2,496.25 26,947.04 Master Servicing Fees 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 Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 965,041.33 34,343.77 413,794.13 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 Pass-Through Rate 6.979759 6.879049 7.677914
Group Level Collateral Statement Group Total Collateral Description Fixed & Mixed ARM Weighted Average Coupon Rate 7.700888 Weighted Average Net Rate 7.200888 Weighted Average Maturity 351.00 Record Date 07/31/2003 Principal And Interest Constant 4,343,965.35 Beginning Loan Count 3,841 Loans Paid In Full 26 Ending Loan Count 3,815 Beginning Scheduled Balance 602,248,773.24 Ending Scheduled Balance 597,151,947.36 Scheduled Principal 479,032.22 Unscheduled Principal 4,617,793.66 Scheduled Interest 3,864,933.13 Servicing Fee 250,936.98 Master Servicing Fee 0.00 Trustee Fee 0.00 Fry Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 3,613,996.15 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 7.200888