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): September 25, 2003
FIRST FRANKLIN MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2003-FF1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-104153-02 54-2110371
Pooling and Servicing Agreement) (Commission 54-2110372
(State or other File Number) IRS EIN
jurisdiction
of Incorporation)
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 September 25, 2003 a distribution was made to holders of FIRST FRANKLIN
MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2003-FF1 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-FF1 Trust, relating to the
September 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-FF1 Trust
By: Wells Fargo Bank Minnesota, N.A., as Trustee
By: /s/ Beth Belfield, Assistant Vice President
By: Beth Belfield, Assistant Vice President
Date: 9/30/03
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Certificates, Series 2003-FF1 Trust, relating to the
September 25, 2003 distribution.
EX-99.1
First Franklin Mortgage Loan Trust
Asset Backed Certificates
Record Date: 8/31/03
Distribution Date: 9/25/03
FFM Series: 2003-FF1
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>
A-1 32027NBX8 SEN 2.23400% 383,471,161.14 713,895.47 7,548,707.08
A-2 32027NBY6 SEN 2.26500% 126,742,158.96 239,225.83 2,110,604.88
M-1 32027NBZ3 MEZ 2.68800% 27,140,000.00 60,793.60 0.00
M-2 32027NCA7 MEZ 2.86000% 25,633,000.00 63,128.38 0.00
M-3F 32027NCB5 MEZ 5.59200% 8,500,000.00 39,610.00 0.00
M-3V 32027NCC3 MEZ 3.61000% 5,070,000.00 15,760.66 0.00
M-4 32027NCD1 MEZ 4.11000% 3,920,000.00 13,873.53 0.00
R-1 FFM3FF1R1 SEN 0.00000% 0.00 0.00 0.00
C FFM03FF1C SEN 0.00000% 5,126,520.77 2,037,395.18 0.00
P FFM03FF1P SEN 0.00000% 100.00 151,271.64 0.00
DIV_CERT SEN 0.00000% 0.00 323.63 0.00
Totals 585,602,940.87 3,335,277.92 9,659,311.96
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 375,922,454.06 8,262,602.55 0.00
A-2 0.00 124,631,554.08 2,349,830.71 0.00
M-1 0.00 27,140,000.00 60,793.60 0.00
M-2 0.00 25,633,000.00 63,128.38 0.00
M-3F 0.00 8,500,000.00 39,610.00 0.00
M-3V 0.00 5,070,000.00 15,760.66 0.00
M-4 0.00 3,920,000.00 13,873.53 0.00
R-1 0.00 0.00 0.00 0.00
C 0.00 5,126,520.77 2,037,395.18 0.00
P 0.00 100.00 151,271.64 0.00
DIV_CERT 0.00 0.00 323.63 0.00
Totals 0.00 575,943,628.91 12,994,589.88 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>
A-1 394,105,000.00 383,471,161.14 0.00 7,548,707.08 0.00 0.00
A-2 133,626,000.00 126,742,158.96 0.00 2,110,604.88 0.00 0.00
M-1 27,140,000.00 27,140,000.00 0.00 0.00 0.00 0.00
M-2 25,633,000.00 25,633,000.00 0.00 0.00 0.00 0.00
M-3F 8,500,000.00 8,500,000.00 0.00 0.00 0.00 0.00
M-3V 5,070,000.00 5,070,000.00 0.00 0.00 0.00 0.00
M-4 3,920,000.00 3,920,000.00 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
C 5,125,991.09 5,126,520.77 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
DIV_CERT 0.00 0.00 0.00 0.00 0.00 0.00
Totals 603,120,091.09 585,602,940.87 0.00 9,659,311.96 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>
A-1 7,548,707.08 375,922,454.06 0.95386370 7,548,707.08
A-2 2,110,604.88 124,631,554.08 0.93268940 2,110,604.88
M-1 0.00 27,140,000.00 1.00000000 0.00
M-2 0.00 25,633,000.00 1.00000000 0.00
M-3F 0.00 8,500,000.00 1.00000000 0.00
M-3V 0.00 5,070,000.00 1.00000000 0.00
M-4 0.00 3,920,000.00 1.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
C 0.00 5,126,520.77 1.00010333 0.00
P 0.00 100.00 1.00000000 0.00
DIV_CERT 0.00 0.00 0.00000000 0.00
Totals 9,659,311.96 575,943,628.91 0.95494021 9,659,311.96
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>
A-1 394,105,000.00 973.01775197 0.00000000 19.15405052 0.00000000
A-2 133,626,000.00 948.48426923 0.00000000 15.79486687 0.00000000
M-1 27,140,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 25,633,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3F 8,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3V 5,070,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 3,920,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
C 5,125,991.09 1000.10333221 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
DIV_CERT 0.00 0.00000000 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>
A-1 0.00000000 19.15405052 953.86370145 0.95386370 19.15405052
A-2 0.00000000 15.79486687 932.68940236 0.93268940 15.79486687
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-3F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3V 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-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 1,000.10333221 1.00010333 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
DIV_CERT 0.00000000 0.00000000 0.00000000 0.00000000 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>
A-1 394,105,000.00 2.23400% 383,471,161.14 713,895.48 0.00 0.00
A-2 133,626,000.00 2.26500% 126,742,158.96 239,225.83 0.00 0.00
M-1 27,140,000.00 2.68800% 27,140,000.00 60,793.60 0.00 0.00
M-2 25,633,000.00 2.86000% 25,633,000.00 63,128.38 0.00 0.00
M-3F 8,500,000.00 5.59200% 8,500,000.00 39,610.00 0.00 0.00
M-3V 5,070,000.00 3.61000% 5,070,000.00 15,760.66 0.00 0.00
M-4 3,920,000.00 4.11000% 3,920,000.00 13,873.53 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
C 5,125,991.09 0.00000% 5,126,520.77 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
DIV_CERT 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 603,120,091.09 1,146,287.48 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>
A-1 0.00 0.00 713,895.47 0.00 375,922,454.06
A-2 0.00 0.00 239,225.83 0.00 124,631,554.08
M-1 0.00 0.00 60,793.60 0.00 27,140,000.00
M-2 0.00 0.00 63,128.38 0.00 25,633,000.00
M-3F 0.00 0.00 39,610.00 0.00 8,500,000.00
M-3V 0.00 0.00 15,760.66 0.00 5,070,000.00
M-4 0.00 0.00 13,873.53 0.00 3,920,000.00
R-1 0.00 0.00 0.00 0.00 0.00
C 0.00 0.00 2,037,395.18 0.00 5,126,520.77
P 0.00 0.00 151,271.64 0.00 100.00
DIV_CERT 0.00 0.00 323.63 0.00 0.00
Totals 0.00 0.00 3,335,277.92 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>
A-1 394,105,000.00 2.23400% 973.01775197 1.81143472 0.00000000 0.00000000
A-2 133,626,000.00 2.26500% 948.48426923 1.79026410 0.00000000 0.00000000
M-1 27,140,000.00 2.68800% 1000.00000000 2.24000000 0.00000000 0.00000000
M-2 25,633,000.00 2.86000% 1000.00000000 2.46277767 0.00000000 0.00000000
M-3F 8,500,000.00 5.59200% 1000.00000000 4.66000000 0.00000000 0.00000000
M-3V 5,070,000.00 3.61000% 1000.00000000 3.10861144 0.00000000 0.00000000
M-4 3,920,000.00 4.11000% 1000.00000000 3.53916582 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
C 5,125,991.09 0.00000% 1000.10333221 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
DIV_CERT 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are per $1,000 denomination.
</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>
A-1 0.00000000 0.00000000 1.81143469 0.00000000 953.86370145
A-2 0.00000000 0.00000000 1.79026410 0.00000000 932.68940236
M-1 0.00000000 0.00000000 2.24000000 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.46277767 0.00000000 1000.00000000
M-3F 0.00000000 0.00000000 4.66000000 0.00000000 1000.00000000
M-3V 0.00000000 0.00000000 3.10861144 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.53916582 0.00000000 1000.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 397.46366005 0.00000000 1000.10333221
P 0.00000000 0.00000000 1512716.40000000 0.00000000 1000.00000000
DIV_CERT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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 13,100,373.53
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) 0.00
Prepayment Penalties 151,271.64
Total Deposits 13,251,645.17
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 257,055.30
Payment of Interest and Principal 12,994,589.87
Total Withdrawals (Pool Distribution Amount) 13,251,645.17
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 244,001.26
Back-up Master Servicing Fee 9,760.05
Wells Fargo 3,293.99
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 257,055.30
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 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 44 0 0 0 44
6,210,042.42 0.00 0.00 0.00 6,210,042.42
60 Days 17 0 0 0 17
2,021,368.92 0.00 0.00 0.00 2,021,368.92
90 Days 26 0 0 0 26
4,156,381.90 0.00 0.00 0.00 4,156,381.90
120 Days 7 0 0 0 7
744,145.16 0.00 0.00 0.00 744,145.16
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 94 0 0 0 94
13,131,938.40 0.00 0.00 0.00 13,131,938.40
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 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.289944% 0.000000% 0.000000% 0.000000% 1.289944%
1.078238% 0.000000% 0.000000% 0.000000% 1.078238%
60 Days 0.498388% 0.000000% 0.000000% 0.000000% 0.498388%
0.350967% 0.000000% 0.000000% 0.000000% 0.350967%
90 Days 0.762240% 0.000000% 0.000000% 0.000000% 0.762240%
0.721665% 0.000000% 0.000000% 0.000000% 0.721665%
120 Days 0.205218% 0.000000% 0.000000% 0.000000% 0.205218%
0.129205% 0.000000% 0.000000% 0.000000% 0.129205%
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 2.755790% 0.000000% 0.000000% 0.000000% 2.755790%
2.280074% 0.000000% 0.000000% 0.000000% 2.280074%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 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 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 7 0 0 0 7
845,188.42 0.00 0.00 0.00 845,188.42
60 Days 2 0 0 0 2
185,440.70 0.00 0.00 0.00 185,440.70
90 Days 3 0 0 0 3
130,414.88 0.00 0.00 0.00 130,414.88
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 12 0 0 0 12
1,161,044.00 0.00 0.00 0.00 1,161,044.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.178451% 0.000000% 0.000000% 0.000000% 1.178451%
1.212113% 0.000000% 0.000000% 0.000000% 1.212113%
60 Days 0.336700% 0.000000% 0.000000% 0.000000% 0.336700%
0.265947% 0.000000% 0.000000% 0.000000% 0.265947%
90 Days 0.505051% 0.000000% 0.000000% 0.000000% 0.505051%
0.187032% 0.000000% 0.000000% 0.000000% 0.187032%
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 2.020202% 0.000000% 0.000000% 0.000000% 2.020202%
1.665092% 0.000000% 0.000000% 0.000000% 1.665092%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 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 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 34 0 0 0 34
4,224,680.30 0.00 0.00 0.00 4,224,680.30
60 Days 15 0 0 0 15
1,835,928.22 0.00 0.00 0.00 1,835,928.22
90 Days 20 0 0 0 20
2,476,033.31 0.00 0.00 0.00 2,476,033.31
120 Days 7 0 0 0 7
744,145.16 0.00 0.00 0.00 744,145.16
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 76 0 0 0 76
9,280,786.99 0.00 0.00 0.00 9,280,786.99
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.362179% 0.000000% 0.000000% 0.000000% 1.362179%
1.165448% 0.000000% 0.000000% 0.000000% 1.165448%
60 Days 0.600962% 0.000000% 0.000000% 0.000000% 0.600962%
0.506471% 0.000000% 0.000000% 0.000000% 0.506471%
90 Days 0.801282% 0.000000% 0.000000% 0.000000% 0.801282%
0.683055% 0.000000% 0.000000% 0.000000% 0.683055%
120 Days 0.280449% 0.000000% 0.000000% 0.000000% 0.280449%
0.205285% 0.000000% 0.000000% 0.000000% 0.205285%
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 3.044872% 0.000000% 0.000000% 0.000000% 3.044872%
2.560259% 0.000000% 0.000000% 0.000000% 2.560259%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 3 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 0 0 0
0.00 0.00 0.00 0.00
30 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
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 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 4 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 0 0 0
0.00 0.00 0.00 0.00
30 Days 3 0 0 0 3
1,140,173.70 0.00 0.00 0.00 1,140,173.70
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 3 0 0 0 3
1,549,933.71 0.00 0.00 0.00 1,549,933.71
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 6 0 0 0 6
2,690,107.41 0.00 0.00 0.00 2,690,107.41
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.083032% 0.000000% 0.000000% 0.000000% 1.083032%
0.923316% 0.000000% 0.000000% 0.000000% 0.923316%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 1.083032% 0.000000% 0.000000% 0.000000% 1.083032%
1.255141% 0.000000% 0.000000% 0.000000% 1.255141%
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 2.166065% 0.000000% 0.000000% 0.000000% 2.166065%
2.178457% 0.000000% 0.000000% 0.000000% 2.178457%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 7.005113%
Weighted Average Net Coupon 6.505113%
Weighted Average Pass-Through Rate 6.478363%
Weighted Average Maturity(Stepdown Calculation ) 351
Beginning Scheduled Collateral Loan Count 3,470
Number Of Loans Paid In Full 59
Ending Scheduled Collateral Loan Count 3,411
Beginning Scheduled Collateral Balance 585,602,940.88
Ending Scheduled Collateral Balance 575,943,628.92
Ending Actual Collateral Balance at 31-Aug-2003 575,943,470.19
Monthly P &I Constant 3,746,036.04
Special Servicing Fee 0.00
Prepayment Penalties 151,271.64
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 575,943,628.92
Scheduled Principal 327,523.58
Unscheduled Principal 9,331,788.38
Miscellaneous Reporting
Credit Enhancement 12.873829%
Stepdown Date in Effect NO
Trigger Event NO
Overcollaterized Target Amount 5,126,520.77
Overcollaterized Increase Amount 0.00
Overcollaterized Reduction Amount 0.00
Overcollaterization Amount 5,126,520.77
Specified Overcollaterization Amount 5,126,520.77
Overcollaterized Deficiency Amount 0.00
Overcollaterized Release Amount 0.00
Extra Principal Amount 0.00
Excess Cash 2,037,395.18
Group Level Collateral Statement
Group Group 1 Group 2 Group 3
Collateral Description Mixed Fixed Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 7.541629 7.056632 7.017546
Weighted Average Net Rate 7.041629 6.556632 6.517545
Weighted Average Maturity 351 351 352
Beginning Loan Count 609 2,536 45
Loans Paid In Full 15 40 1
Ending Loan Count 594 2,496 44
Beginning Scheduled Balance 71,437,507.93 368,333,977.32 20,612,182.15
Ending scheduled Balance 69,728,548.35 362,494,229.82 20,234,017.64
Record Date 08/31/2003 08/31/2003 08/31/2003
Principal And Interest Constant 514,870.03 2,358,700.21 140,451.81
Scheduled Principal 65,907.38 192,702.50 19,912.70
Unscheduled Principal 1,643,052.20 5,647,045.00 358,251.81
Scheduled Interest 448,962.65 2,165,997.71 120,539.11
Servicing Fees 29,765.64 153,472.50 8,588.42
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 401.84 2,071.85 115.94
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 1,190.63 6,138.90 343.53
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 417,604.54 2,004,314.46 111,491.22
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 7.014879 6.529882 6.490796
Group Level Collateral Statement
Group Group 4 Total
Collateral Description Mixed ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 6.545443 7.005113
Weighted Average Net Rate 6.045443 6.505113
Weighted Average Maturity 352 351
Beginning Loan Count 280 3,470
Loans Paid In Full 3 59
Ending Loan Count 277 3,411
Beginning Scheduled Balance 125,219,273.48 585,602,940.88
Ending scheduled Balance 123,486,833.11 575,943,628.92
Record Date 08/31/2003 08/31/2003
Principal And Interest Constant 732,013.99 3,746,036.04
Scheduled Principal 49,001.00 327,523.58
Unscheduled Principal 1,683,439.37 9,331,788.38
Scheduled Interest 683,012.99 3,418,512.46
Servicing Fees 52,174.70 244,001.26
Master Servicing Fees 0.00 0.00
Trustee Fee 704.36 3,293.99
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 2,086.99 9,760.05
Pool Insurance Fee 0.00 0.00
Spread Fee 1 0.00 0.00
Spread Fee 2 0.00 0.00
Spread Fee 3 0.00 0.00
Net Interest 628,046.94 3,161,457.16
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 6.018693 6.478363