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): July 25, 2003
FIRST FRANKLIN MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2003-FFC Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-104153-04 54-2116909
Pooling and Servicing Agreement) (Commission 54-2116910
(State or other File Number) 54-2116911
jurisdiction 54-2116944
of Incorporation) 54-2116945
54-6553616
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 July 25, 2003 a distribution was made to holders of FIRST FRANKLIN MORTGAGE
LOAN TRUST, Asset Backed Certificates, Series 2003-FFC 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 Certificates, Series
2003-FFC Trust, relating to the July 25,
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.
FIRST FRANKLIN MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2003-FFC Trust
By: Wells Fargo Bank Minnesota, N.A as Trustee
By: /s/ Beth Belfield, Assistant Vice President
By: Beth Belfield, Assistant Vice President
Date: 8/5/03
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Certificates, Series 2003-FFC Trust, relating to the
July 25, 2003 distribution.
EX-99.1
First Franklin Mortgage Loan Trust
Mortgage Pass-Through Certificates
Record Date: 6/30/03
Distribution Date: 7/25/03
FFM Series: 2003-FFC
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
<s> <c> <c> <c> <c> <c> <c>
S 32027NCT6 SEN 6.00000% 0.00 195,650.00 0.00
A-1 32027NCM1 SEN 1.40750% 85,376,000.00 96,800.97 1,024,887.81
A-2 32027NCN9 SEN 1.40750% 70,656,000.00 80,111.15 1,101,086.31
M-1 32027NCP4 MEZ 1.82750% 21,522,000.00 31,683.67 0.00
M-2 32027NCQ2 MEZ 2.87750% 9,783,000.00 22,676.86 0.00
M-3 32027NCR0 MEZ 4.12750% 5,380,000.00 17,888.13 0.00
M-4 32027NCS8 MEZ 5.02750% 2,446,000.00 9,906.13 0.00
R FFM3FFCR1 SEN 0.00000% 0.00 0.00 0.00
C FFM03FFCC SEN 0.00000% 489,429.02 975,551.87 0.00
X FFM03FFCX SEN 0.00000% 0.00 0.00 0.00
P FFM03FFCP SEN 0.00000% 100.00 69,734.77 0.00
Totals 195,652,529.02 1,500,003.55 2,125,974.12
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
S 0.00 0.00 195,650.00 0.00
A-1 0.00 84,351,112.19 1,121,688.78 0.00
A-2 0.00 69,554,913.69 1,181,197.46 0.00
M-1 0.00 21,522,000.00 31,683.67 0.00
M-2 0.00 9,783,000.00 22,676.86 0.00
M-3 0.00 5,380,000.00 17,888.13 0.00
M-4 0.00 2,446,000.00 9,906.13 0.00
R 0.00 0.00 0.00 0.00
C 0.00 489,131.32 975,551.87 0.00
X 0.00 0.00 0.00 0.00
P 0.00 100.00 69,734.77 0.00
Totals 0.00 193,526,257.20 3,625,977.67 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
S 0.00 0.00 0.00 0.00 0.00 0.00
A-1 85,376,000.00 85,376,000.00 0.00 1,024,887.81 0.00 0.00
A-2 70,656,000.00 70,656,000.00 0.00 1,101,086.31 0.00 0.00
M-1 21,522,000.00 21,522,000.00 0.00 0.00 0.00 0.00
M-2 9,783,000.00 9,783,000.00 0.00 0.00 0.00 0.00
M-3 5,380,000.00 5,380,000.00 0.00 0.00 0.00 0.00
M-4 2,446,000.00 2,446,000.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
C 489,429.02 489,429.02 0.00 0.00 0.00 0.00
X 0.00 0.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
Totals 195,652,529.02 195,652,529.02 0.00 2,125,974.12 0.00 0.00
<FN>
(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.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
S 0.00 0.00 0.00000000 0.00
A-1 1,024,887.81 84,351,112.19 0.98799560 1,024,887.81
A-2 1,101,086.31 69,554,913.69 0.98441624 1,101,086.31
M-1 0.00 21,522,000.00 1.00000000 0.00
M-2 0.00 9,783,000.00 1.00000000 0.00
M-3 0.00 5,380,000.00 1.00000000 0.00
M-4 0.00 2,446,000.00 1.00000000 0.00
R 0.00 0.00 0.00000000 0.00
C 0.00 489,131.32 0.99939174 0.00
X 0.00 0.00 0.00000000 0.00
P 0.00 100.00 1.00000000 0.00
Totals 2,125,974.12 193,526,257.20 0.98913241 2,125,974.12
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
S 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1 85,376,000.00 1000.00000000 0.00000000 12.00440182 0.00000000
A-2 70,656,000.00 1000.00000000 0.00000000 15.58376231 0.00000000
M-1 21,522,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 9,783,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 5,380,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 2,446,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
C 489,429.02 1000.00000000 0.00000000 0.00000000 0.00000000
X 0.00 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All Classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
S 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 12.00440182 987.99559818 0.98799560 12.00440182
A-2 0.00000000 15.58376231 984.41623769 0.98441624 15.58376231
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 999.39174020 0.99939174 0.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
<FN>
(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.
</FN>
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
<s> <c> <c> <c> <c> <c> <c>
S 0.00 6.00000% 39,130,000.00 195,650.00 0.00 0.00
A-1 85,376,000.00 1.40750% 85,376,000.00 96,800.97 0.00 0.00
A-2 70,656,000.00 1.40750% 70,656,000.00 80,111.15 0.00 0.00
M-1 21,522,000.00 1.82750% 21,522,000.00 31,683.67 0.00 0.00
M-2 9,783,000.00 2.87750% 9,783,000.00 22,676.86 0.00 0.00
M-3 5,380,000.00 4.12750% 5,380,000.00 17,888.13 0.00 0.00
M-4 2,446,000.00 5.02750% 2,446,000.00 9,906.13 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
C 489,429.02 0.00000% 489,429.02 0.00 0.00 0.00
X 0.00 0.00000% 0.00 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
Totals 195,652,529.02 454,716.91 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
<s> <c> <c> <c> <c> <c>
S 0.00 0.00 195,650.00 0.00 39,130,000.00
A-1 0.00 0.00 96,800.97 0.00 84,351,112.19
A-2 0.00 0.00 80,111.15 0.00 69,554,913.69
M-1 0.00 0.00 31,683.67 0.00 21,522,000.00
M-2 0.00 0.00 22,676.86 0.00 9,783,000.00
M-3 0.00 0.00 17,888.13 0.00 5,380,000.00
M-4 0.00 0.00 9,906.13 0.00 2,446,000.00
R 0.00 0.00 0.00 0.00 0.00
C 0.00 0.00 975,551.87 0.00 489,131.32
X 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 69,734.77 0.00 100.00
Totals 0.00 0.00 1,500,003.55 0.00
<FN>
(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.
</FN>
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
<s> <c> <c> <c> <c> <c> <c>
S 0.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000
A-1 85,376,000.00 1.40750% 1000.00000000 1.13381946 0.00000000 0.00000000
A-2 70,656,000.00 1.40750% 1000.00000000 1.13381949 0.00000000 0.00000000
M-1 21,522,000.00 1.82750% 1000.00000000 1.47215268 0.00000000 0.00000000
M-2 9,783,000.00 2.87750% 1000.00000000 2.31798630 0.00000000 0.00000000
M-3 5,380,000.00 4.12750% 1000.00000000 3.32493123 0.00000000 0.00000000
M-4 2,446,000.00 5.02750% 1000.00000000 4.04993050 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
C 489,429.02 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are per $1,000.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
S 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000
A-1 0.00000000 0.00000000 1.13381946 0.00000000 987.99559818
A-2 0.00000000 0.00000000 1.13381949 0.00000000 984.41623769
M-1 0.00000000 0.00000000 1.47215268 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.31798630 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 3.32493123 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 4.04993050 0.00000000 1000.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 1993.24484274 0.00000000 999.39174020
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 697347.70000000 0.00000000 1000.00000000
<FN>
(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.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 4,043,354.88
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Loss (Gains, Subsequent Expenses & Recoveries) (34,430.68)
Prepayment Penalties 0.00
Total Deposits 4,008,924.20
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 382,946.53
Payment of Interest and Principal 3,625,977.67
Total Withdrawals (Pool Distribution Amount) 4,008,924.20
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
<s> <c>
Gross Servicing Fee 81,521.91
Pool Insurance Fee 298,163.76
Trustee Fee 3,260.86
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 382,946.53
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 1,000.00 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
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 18 0 0 18
692,611.86 0.00 0.00 692,611.86
30 Days 249 5 0 0 254
9,709,076.96 130,444.71 0.00 0.00 9,839,521.67
60 Days 61 3 0 0 64
2,044,345.76 85,143.30 0.00 0.00 2,129,489.06
90 Days 32 1 0 0 33
1,217,576.68 45,950.97 0.00 0.00 1,263,527.65
120 Days 20 1 1 0 22
665,228.33 35,132.26 45,705.96 0.00 746,066.55
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 362 28 1 0 391
13,636,227.73 989,283.10 45,705.96 0.00 14,671,216.79
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 0.372362% 0.000000% 0.000000% 0.372362%
0.357890% 0.000000% 0.000000% 0.357890%
30 Days 5.151014% 0.103434% 0.000000% 0.000000% 5.254448%
5.016930% 0.067404% 0.000000% 0.000000% 5.084334%
60 Days 1.261895% 0.062060% 0.000000% 0.000000% 1.323955%
1.056366% 0.043996% 0.000000% 0.000000% 1.100362%
90 Days 0.661978% 0.020687% 0.000000% 0.000000% 0.682664%
0.629153% 0.023744% 0.000000% 0.000000% 0.652897%
120 Days 0.413736% 0.020687% 0.020687% 0.000000% 0.455110%
0.343741% 0.018154% 0.023617% 0.000000% 0.385512%
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 7.488622% 0.579230% 0.020687% 0.000000% 8.088540%
7.046190% 0.511188% 0.023617% 0.000000% 7.580995%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1 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 11 0 0 11
387,031.28 0.00 0.00 387,031.28
30 Days 162 4 0 0 166
4,818,453.89 103,955.08 0.00 0.00 4,922,408.97
60 Days 42 3 0 0 45
1,235,844.30 85,143.30 0.00 0.00 1,320,987.60
90 Days 25 0 0 0 25
692,620.31 0.00 0.00 0.00 692,620.31
120 Days 14 1 1 0 16
369,852.91 35,132.26 45,705.96 0.00 450,691.13
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 243 19 1 0 263
7,116,771.41 611,261.92 45,705.96 0.00 7,773,739.29
0-29 Days 0.336391% 0.000000% 0.000000% 0.336391%
0.365082% 0.000000% 0.000000% 0.365082%
30 Days 4.954128% 0.122324% 0.000000% 0.000000% 5.076453%
4.545191% 0.098060% 0.000000% 0.000000% 4.643250%
60 Days 1.284404% 0.091743% 0.000000% 0.000000% 1.376147%
1.165757% 0.080315% 0.000000% 0.000000% 1.246072%
90 Days 0.764526% 0.000000% 0.000000% 0.000000% 0.764526%
0.653341% 0.000000% 0.000000% 0.000000% 0.653341%
120 Days 0.428135% 0.030581% 0.030581% 0.000000% 0.489297%
0.348878% 0.033140% 0.043114% 0.000000% 0.425132%
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 7.431193% 0.581040% 0.030581% 0.000000% 8.042813%
6.713167% 0.576596% 0.043114% 0.000000% 7.332877%
<Caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2 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 7 0 0 7
305,580.58 0.00 0.00 305,580.58
30 Days 87 1 0 0 88
4,890,623.07 26,489.63 0.00 0.00 4,917,112.70
60 Days 19 0 0 0 19
808,501.46 0.00 0.00 0.00 808,501.46
90 Days 7 1 0 0 8
524,956.37 45,950.97 0.00 0.00 570,907.34
120 Days 6 0 0 0 6
295,375.42 0.00 0.00 0.00 295,375.42
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 119 9 0 0 128
6,519,456.32 378,021.18 0.00 0.00 6,897,477.50
0-29 Days 0.447570% 0.000000% 0.000000% 0.447570%
0.349179% 0.000000% 0.000000% 0.349179%
30 Days 5.562660% 0.063939% 0.000000% 0.000000% 5.626598%
5.588382% 0.030269% 0.000000% 0.000000% 5.618651%
60 Days 1.214834% 0.000000% 0.000000% 0.000000% 1.214834%
0.923853% 0.000000% 0.000000% 0.000000% 0.923853%
90 Days 0.447570% 0.063939% 0.000000% 0.000000% 0.511509%
0.599853% 0.052507% 0.000000% 0.000000% 0.652360%
120 Days 0.383632% 0.000000% 0.000000% 0.000000% 0.383632%
0.337517% 0.000000% 0.000000% 0.000000% 0.337517%
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 7.608696% 0.575448% 0.000000% 0.000000% 8.184143%
7.449605% 0.431954% 0.000000% 0.000000% 7.881559%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 139,627.13
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 11.331386%
Weighted Average Net Coupon 10.831386%
Weighted Average Pass-Through Rate 8.982652%
Weighted Average Maturity(Stepdown Calculation ) 206
Beginning Scheduled Collateral Loan Count 4,873
Number Of Loans Paid In Full 39
Ending Scheduled Collateral Loan Count 4,834
Beginning Scheduled Collateral Balance 195,652,529.02
Ending Scheduled Collateral Balance 193,526,257.20
Ending Actual Collateral Balance at 30-Jun-2003 193,526,257.20
Monthly P &I Constant 1,933,027.07
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 34,430.68
Cumulative Realized Loss 34,430.68
Ending Scheduled Balance for Premium Loans 193,526,257.20
Scheduled Principal 85,515.10
Unscheduled Principal 2,040,756.72
Undrawn Pool Insurance 29,385,538.91
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 11.550462 11.066670 11.331386
Weighted Average Net Rate 11.050463 10.566669 10.831386
Weighted Average Maturity 202 211 206
Beginning Loan Count 3,296 1,577 4,873
Loans Paid In Full 26 13 39
Ending Loan Count 3,270 1,564 4,834
Beginning Scheduled Balance 107,054,998.68 88,597,530.34 195,652,529.02
Ending scheduled Balance 106,012,134.99 87,514,122.21 193,526,257.20
Record Date 06/30/2003 06/30/2003 06/30/2003
Principal And Interest Constant 1,075,383.47 857,643.60 1,933,027.07
Scheduled Principal 44,937.85 40,577.25 85,515.10
Unscheduled Principal 997,925.84 1,042,830.88 2,040,756.72
Scheduled Interest 1,030,445.62 817,066.35 1,847,511.97
Servicing Fees 44,606.23 36,915.68 81,521.91
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,784.24 1,476.62 3,260.86
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 163,039.60 135,124.16 298,163.76
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 821,015.55 643,549.89 1,464,565.44
Realized Loss Amount 34,430.68 0.00 34,430.68
Cumulative Realized Loss 34,430.68 0.00 34,430.68
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 9.202920 8.716495 8.982652