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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 10-K/A
[X] Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the fiscal year ended December 31, 2003
[ ] Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the transition period from to
Commission File Number 333-69800-05
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CHEC FUNDING, LLC
on behalf of itself and the Trust described below with
respect to which it is the depositor
(Exact name of registrant as specified in its charter)
Delaware 76-2851805
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation)
2728 North Harwood
Dallas, Texas 75201
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (214) 981-5000
Centex Home Equity Loan Asset-Backed Certificates, Series 2003-A,
issued by Centex Home Equity Loan Trust 2003-A
(Title of each class of securities covered by this Form)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]
Indicate by check mark whether the registrant is an accelerated filer (as
defined in Exchange Act Rule 12b-2). Yes No [X]
Documents incorporated by reference: None
AMENDMENT NUMBER 1 OF 1
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CHEC FUNDING, LLC
Centex Home Equity Loan Trust 2003-A
Centex Home Equity Loan Asset-Backed Certificates, Series 2003-A
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PART IV
Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K
(a) The following documents are filed as part of this report:
(1) Financial Statements:
Omitted.
(2) Financial Statement Schedules:
Omitted.
(3) Exhibits:
Rule 13a-14(a)/15d-14(a) Certification filed as Exhibit 33.1 hereto.
Annual Independent Accountant's Report filed as Exhibit 99.1 hereto.
Annual Statement as to Compliance filed as Exhibit 99.2 hereto.
(b) Reports on Form 8-K: The following Current Reports on Form 8-K with respect
to the Trust were filed by the Registrant for the last quarter of 2003.
Current Reports on Form 8-K dated October 27, 2003, November 25, 2003,
and December 26, 2003 were filed for the purpose of filing the Monthly
Statement sent to the Holders of the Offered Certificates for payments
made on the same date. The items reported in such Current Report were
Item 5 and Item 7.
(c) Exhibits to this report are listed in Item (15)(a)(3) above.
(d) Not applicable.
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CHEC FUNDING, LLC
Centex Home Equity Loan Trust 2003-A
Centex Home Equity Loan Asset-Backed Certificates, Series 2003-A
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SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Servicer of the Trust has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
Centex Home Equity Company, LLC, as Servicer of the
Centex Home Equity Loan Trust 2003-A
By: /s/ Jesse K. Bray
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Name: Jesse K. Bray
Title: Executive Vice President/Chief Financial Officer
Date: September 17, 2004
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<page>
EXHIBIT INDEX
Exhibit Description
31.1 Rule 13a-14(a)/15d-14(a) Certification
99.1 Annual Independent Accountant's Report
99.2 Annual Statement as to Compliance
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EXHIBIT 31.1
Rule 13a-14(a)/15d-14(a) Certification
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SARBANES-OXLEY CERTIFICATION
I, Jesse K. Bray, certify that:
1. I have reviewed this annual report on Form 10-K/A, and all reports on
Form 8-K containing distribution or servicing reports filed in respect of
periods included in the year covered by this annual report, of Centex Home
Equity Loan Trust 2003-A;
2. Based on my knowledge, the information in these reports, taken as a
whole, does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading as of the
last day of the period covered by this annual report;
3. Based on my knowledge, the distribution or servicing information
required to be provided to the trustee by the servicer under the pooling and
servicing, or similar, agreement, for inclusion in these reports is included in
these reports;
4. I am responsible for reviewing the activities performed by the servicer
under the pooling and servicing, or similar, agreement and based upon my
knowledge and the annual compliance review required under that agreement, and
except as disclosed in the reports, the servicer has fulfilled its obligations
under that agreement; and
5. The reports disclose all significant deficiencies relating to the
servicer's compliance with the minimum servicing standards based upon the report
provided by an independent public accountant, after conducting a review in
compliance with the Uniform Single Attestation Program for Mortgage Bankers or
similar procedure, as set forth in the pooling and servicing, or similar,
agreement that is included in these reports.
In giving the certifications above, I have reasonably relied on information
provided to me by the following unaffiliated parties: JPMorgan Chase Bank, as
Trustee.
By:
/s/ Jesse K. Bray
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Name: Jesse K. Bray
Company: Centex Home Equity Company, LLC as Servicer
Title: Executive Vice President/Chief Financial Officer
Date: September 17, 2004
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EXHIBIT 99.1
Annual Independent Accountant's Report
Ernest & Young LLP
Dallas, Texas
Report on Management's Assertion on Compliance
With Minimum Servicing Standards Set Forth in the
Uniform Single Attestation Program for Mortgage Bankers
Report of Independent Accountants
The Member of Centex Home Equity Company, LLC
and Subsidiaries and CTX Mortgage Funding, LLC
We have examined management's assertion, included in the accompanying
report titled Report of Management, except that the minimum servicing standard
for returning excess escrow from loan payoff is 30 days and company policy is 45
days, Centex Home Equity Company, LLC and subsidiaries and CTX Mortgage Funding,
LLC (collectively, the Companies) complied with the minimum servicing standands
set forth in the Mortgage Bankers Association of America's Uniform Single
Attestation Program for Mortgage Bankers (USAP) during the period ended March
31, 2004. Management is responsible for the Companies' compliance with those
requirements. Our responsibility is to express an opinion on management's
assertions about the management's compliance based on our examination.
Our examination was made in accordance with attestation standards
established by the American Institute of Certified Public Accountants and,
accordingly, included examining, on a test basis, evidence about the Companies'
compliance with those requirements and performing such other procedures as we
considered necessary in the circumstances. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide a
legal determination on the Companies' compliance with specified requirements.
In our opinion, management's assertion that the Companies complied with the
aforementioned requirements during the period ended March 31, 2004, except that
the minimum servicing standard for returning excess escrow from loan payoff is
40 days and company policy is 45 days, is fairly stated, in all material
respects.
This report is intended solely for the information and use of the audit
committee, management and the Companies' private investors and is not intended
to be and should not be used by anyone other than these specified parties.
Ernest & Young LLP
May 21, 2004
Centex Home Equity Corporation
Management's Assertion on Compliance With Minimum Servicing
Standards Set Forth in the
Uniform Single Attestation Program for Mortgage Bankers
Report of Management
We, as members of management of Centex Home Equity Company, LLC and
Subsidiaries and CTX Mortgage Funding, LLC (the Companies), are responsible for
complying with the minimum servicing standards as set forth in the Mortgage
Bankers Association of America's Uniform Single Attestation Program for Mortgage
Bankers (USAP). We are also responsible for establishing and maintaining
effective internal control over compliance with these standards. We have
performed an evaluation of the Companies' compliance with the minimum servicing
standards as set forth in the USAP as of March 31, 2004 and for the period then
ended. Based on this evaluation, we assert that during the year ended March 31,
2004, the Companies complied, in all material respects, with the minimum
servicing standards set forth in the USAP.
As of and for this same period, the Companies had in effect a fidelity bond
in the amount of $40 million and an errors and omissions policy in the amount of
$6 million.
/s/ Jay Bray
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Jay Bray
Executive Vice President
Chief Financial Officer
July 23, 2004
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99.2
Annual Statement as to Compliance
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ANNUAL STATEMENT AS TO COMPLIANCE
As of and for the fiscal year ended March 31, 2004, pursuant to Section
8.16 of the Pooling and Servicing Agreement, the undersigned on behalf of Centex
Home Equity Company, LLC has performed the reviews of the activities of the
Servicer during such preceding fiscal year end of performance under the Pooling
and Servicing Agreement, for Centex Home Equity Loan Trust 2003-A under my
supervision.
To the best of my knowledge, based on such review, the Servicer has
fulfilled all obligations under the Pooling and Servicing Agreement for the
fiscal year above referenced.
/s/ Anthony H. Barone
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Anthony H. Barone
President and Chief Executive Officer
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