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): October 27, 2003
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset-Backed Certificates, Series 2003-3 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-91334-10 54-2126363
Pooling and Servicing Agreement) (Commission 54-2126364
(State or other File Number) 54-2126362
jurisdiction IRS EIN
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 October 27, 2003 a distribution was made to holders of BEAR STEARNS ASSET
BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2003-3 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
2003-3 Trust, relating to the
October 27, 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.
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset-Backed Certificates, Series 2003-3 Trust
By: Wells Fargo Bank Minnesota, N.A. as Securities
Administrator
By: /s/ Beth Belfield as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 11/6/03
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset-
Backed Certificates, Series 2003-3 Trust,
relating to the October 27, 2003 distribution.
EX-99.1
Bear Stearns Asset Backed Securities
Asset-Backed Certificates
Record Date: 9/30/03
Distribution Date: 10/27/03
BSA Series: 2003-3
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 07384YLR5 SEN 1.32000% 190,296,000.00 188,393.04 5,824,256.44
A-IO 07384YLT1 SEN 5.00000% 0.00 114,770.83 0.00
A-2 07384YLS3 SEN 1.71000% 43,840,000.00 56,224.80 0.00
M-1 07384YLU8 MEZ 1.94000% 16,527,000.00 24,046.79 0.00
M-2 07384YLV6 MEZ 3.12000% 15,150,000.00 35,451.00 0.00
B 07384YLW4 SUB 4.62000% 9,641,000.00 33,406.06 0.00
B-IO 07384YMZ6 SUB 0.00000% 0.00 1,554,716.87 0.00
R-1 07384YLX2 RES 0.00000% 50.00 0.00 50.00
R-2 07384YLY0 RES 0.00000% 50.00 0.00 50.00
R-3 07384YLZ7 RES 0.00000% 50.00 0.00 50.00
OC BSA0303OC OC 0.00000% 359.01 0.00 0.00
Totals 275,454,509.01 2,007,009.39 5,824,406.44
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 184,471,743.56 6,012,649.48 0.00
A-IO 0.00 0.00 114,770.83 0.00
A-2 0.00 43,840,000.00 56,224.80 0.00
M-1 0.00 16,527,000.00 24,046.79 0.00
M-2 0.00 15,150,000.00 35,451.00 0.00
B 0.00 9,641,000.00 33,406.06 0.00
B-IO 0.00 0.00 1,554,716.87 0.00
R-1 0.00 0.00 50.00 0.00
R-2 0.00 0.00 50.00 0.00
R-3 0.00 0.00 50.00 0.00
OC 0.00 357.86 0.00 0.00
Totals 0.00 269,630,101.42 7,831,415.83 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-1 190,296,000.00 190,296,000.00 0.00 5,824,256.44 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
A-2 43,840,000.00 43,840,000.00 0.00 0.00 0.00 0.00
M-1 16,527,000.00 16,527,000.00 0.00 0.00 0.00 0.00
M-2 15,150,000.00 15,150,000.00 0.00 0.00 0.00 0.00
B 9,641,000.00 9,641,000.00 0.00 0.00 0.00 0.00
B-IO 0.00 0.00 0.00 0.00 0.00 0.00
R-1 50.00 50.00 0.00 50.00 0.00 0.00
R-2 50.00 50.00 0.00 50.00 0.00 0.00
R-3 50.00 50.00 0.00 50.00 0.00 0.00
OC 359.01 359.01 0.00 0.00 0.00 0.00
Totals 275,454,509.01 275,454,509.01 0.00 5,824,406.44 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 5,824,256.44 184,471,743.56 0.96939370 5,824,256.44
A-IO 0.00 0.00 0.00000000 0.00
A-2 0.00 43,840,000.00 1.00000000 0.00
M-1 0.00 16,527,000.00 1.00000000 0.00
M-2 0.00 15,150,000.00 1.00000000 0.00
B 0.00 9,641,000.00 1.00000000 0.00
B-IO 0.00 0.00 0.00000000 0.00
R-1 50.00 0.00 0.00000000 50.00
R-2 50.00 0.00 0.00000000 50.00
R-3 50.00 0.00 0.00000000 50.00
OC 0.00 357.86 0.99679675 0.00
Totals 5,824,406.44 269,630,101.42 0.97885528 5,824,406.44
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-1 190,296,000.00 1000.00000000 0.00000000 30.60629987 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-2 43,840,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 16,527,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 15,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 9,641,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-1 50.00 1000.00000000 0.00000000 1000.00000000 0.00000000
R-2 50.00 1000.00000000 0.00000000 1000.00000000 0.00000000
R-3 50.00 1000.00000000 0.00000000 1000.00000000 0.00000000
OC 359.01 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
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 30.60629987 969.39370013 0.96939370 30.60629987
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
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
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000
R-2 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000
R-3 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000
OC 0.00000000 0.00000000 996.79674661 0.99679675 0.00000000
<FN>
(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.
</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-1 190,296,000.00 1.32000% 190,296,000.00 188,393.04 0.00 0.00
A-IO 0.00 5.00000% 27,545,000.00 114,770.83 0.00 0.00
A-2 43,840,000.00 1.71000% 43,840,000.00 56,224.80 0.00 0.00
M-1 16,527,000.00 1.94000% 16,527,000.00 24,046.79 0.00 0.00
M-2 15,150,000.00 3.12000% 15,150,000.00 35,451.00 0.00 0.00
B 9,641,000.00 4.62000% 9,641,000.00 33,406.07 0.00 0.00
B-IO 0.00 0.00000% 275,454,359.01 0.00 0.00 0.00
R-1 50.00 0.00000% 50.00 0.00 0.00 0.00
R-2 50.00 0.00000% 50.00 0.00 0.00 0.00
R-3 50.00 0.00000% 50.00 0.00 0.00 0.00
OC 359.01 0.00000% 359.01 0.00 0.00 0.00
Totals 275,454,509.01 452,292.53 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 0.00 188,393.04 0.00 184,471,743.56
A-IO 0.00 0.00 114,770.83 0.00 27,545,000.00
A-2 0.00 0.00 56,224.80 0.00 43,840,000.00
M-1 0.00 0.00 24,046.79 0.00 16,527,000.00
M-2 0.00 0.00 35,451.00 0.00 15,150,000.00
B 0.00 0.00 33,406.06 0.00 9,641,000.00
B-IO 0.00 0.00 1,554,716.87 0.00 269,630,101.42
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00
OC 0.00 0.00 0.00 0.00 357.86
Totals 0.00 0.00 2,007,009.39 0.00
<FN>
(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.
</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-1 190,296,000.00 1.32000% 1000.00000000 0.99000000 0.00000000 0.00000000
A-IO 0.00 5.00000% 1000.00000000 4.16666655 0.00000000 0.00000000
A-2 43,840,000.00 1.71000% 1000.00000000 1.28250000 0.00000000 0.00000000
M-1 16,527,000.00 1.94000% 1000.00000000 1.45500030 0.00000000 0.00000000
M-2 15,150,000.00 3.12000% 1000.00000000 2.34000000 0.00000000 0.00000000
B 9,641,000.00 4.62000% 1000.00000000 3.46500052 0.00000000 0.00000000
B-IO 0.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R-1 50.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R-2 50.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R-3 50.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
OC 359.01 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
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 0.99000000 0.00000000 969.39370013
A-IO 0.00000000 0.00000000 4.16666655 0.00000000 1000.00000000
A-2 0.00000000 0.00000000 1.28250000 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 1.45500030 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.34000000 0.00000000 1000.00000000
B 0.00000000 0.00000000 3.46499948 0.00000000 1000.00000000
B-IO 0.00000000 0.00000000 5.64419048 0.00000000 978.85581622
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 996.79674661
<FN>
(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.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 7,643,877.20
Liquidations, Insurance Proceeds, Reserve Funds 150.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 297,202.35
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
Total Deposits 7,941,229.55
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 109,813.72
Payment of Interest and Principal 7,831,415.83
Total Withdrawals (Pool Distribution Amount) 7,941,229.55
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 107,518.26
Master Servicing Fee 2,295.46
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 109,813.72
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 150.00 150.00 0.00 0.00
Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 0.00 0.00 0.00 0.00
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 297 0 0 0 297
20,758,034.51 0.00 0.00 0.00 20,758,034.51
60 Days 108 0 0 0 108
8,243,850.94 0.00 0.00 0.00 8,243,850.94
90 Days 51 0 0 0 51
3,629,462.04 0.00 0.00 0.00 3,629,462.04
120 Days 1 0 0 0 1
195,544.51 0.00 0.00 0.00 195,544.51
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 1 0 0 0 1
166,958.55 0.00 0.00 0.00 166,958.55
Totals 458 0 0 0 458
32,993,850.55 0.00 0.00 0.00 32,993,850.55
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 7.351485% 0.000000% 0.000000% 0.000000% 7.351485%
7.685622% 0.000000% 0.000000% 0.000000% 7.685622%
60 Days 2.673267% 0.000000% 0.000000% 0.000000% 2.673267%
3.052270% 0.000000% 0.000000% 0.000000% 3.052270%
90 Days 1.262376% 0.000000% 0.000000% 0.000000% 1.262376%
1.343801% 0.000000% 0.000000% 0.000000% 1.343801%
120 Days 0.024752% 0.000000% 0.000000% 0.000000% 0.024752%
0.072400% 0.000000% 0.000000% 0.000000% 0.072400%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.024752% 0.000000% 0.000000% 0.000000% 0.024752%
0.061816% 0.000000% 0.000000% 0.000000% 0.061816%
Totals 11.336634% 0.000000% 0.000000% 0.000000% 11.336634%
12.215910% 0.000000% 0.000000% 0.000000% 12.215910%
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 121 0 0 0 121
6,805,322.91 0.00 0.00 0.00 6,805,322.91
60 Days 48 0 0 0 48
2,675,544.65 0.00 0.00 0.00 2,675,544.65
90 Days 26 0 0 0 26
1,230,427.71 0.00 0.00 0.00 1,230,427.71
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 1 0 0 0 1
166,958.55 0.00 0.00 0.00 166,958.55
Totals 196 0 0 0 196
10,878,253.82 0.00 0.00 0.00 10,878,253.82
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 6.179775% 0.000000% 0.000000% 0.000000% 6.179775%
5.879519% 0.000000% 0.000000% 0.000000% 5.879519%
60 Days 2.451481% 0.000000% 0.000000% 0.000000% 2.451481%
2.311560% 0.000000% 0.000000% 0.000000% 2.311560%
90 Days 1.327886% 0.000000% 0.000000% 0.000000% 1.327886%
1.063039% 0.000000% 0.000000% 0.000000% 1.063039%
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 0.051073% 0.000000% 0.000000% 0.000000% 0.051073%
0.144245% 0.000000% 0.000000% 0.000000% 0.144245%
Totals 10.010215% 0.000000% 0.000000% 0.000000% 10.010215%
9.398363% 0.000000% 0.000000% 0.000000% 9.398363%
<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 176 0 0 0 176
13,952,711.60 0.00 0.00 0.00 13,952,711.60
60 Days 60 0 0 0 60
5,568,306.29 0.00 0.00 0.00 5,568,306.29
90 Days 25 0 0 0 25
2,399,034.33 0.00 0.00 0.00 2,399,034.33
120 Days 1 0 0 0 1
195,544.51 0.00 0.00 0.00 195,544.51
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 262 0 0 0 262
22,115,596.73 0.00 0.00 0.00 22,115,596.73
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 8.453410% 0.000000% 0.000000% 0.000000% 8.453410%
9.040072% 0.000000% 0.000000% 0.000000% 9.040072%
60 Days 2.881844% 0.000000% 0.000000% 0.000000% 2.881844%
3.607750% 0.000000% 0.000000% 0.000000% 3.607750%
90 Days 1.200768% 0.000000% 0.000000% 0.000000% 1.200768%
1.554353% 0.000000% 0.000000% 0.000000% 1.554353%
120 Days 0.048031% 0.000000% 0.000000% 0.000000% 0.048031%
0.126695% 0.000000% 0.000000% 0.000000% 0.126695%
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 12.584054% 0.000000% 0.000000% 0.000000% 12.584054%
14.328870% 0.000000% 0.000000% 0.000000% 14.328870%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 297,202.35
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 9.221611%
Weighted Average Net Coupon 8.753214%
Weighted Average Pass-Through Rate 8.743214%
Weighted Average Maturity(Stepdown Calculation ) 279
Beginning Scheduled Collateral Loan Count 4,106
Number Of Loans Paid In Full 66
Ending Scheduled Collateral Loan Count 4,040
Beginning Scheduled Collateral Balance 275,454,509.01
Ending Scheduled Collateral Balance 269,630,101.42
Ending Actual Collateral Balance at 30-Sep-2003 270,089,179.66
Monthly P &I Constant 2,480,464.21
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 269,630,101.42
Scheduled Principal 363,686.86
Unscheduled Principal 5,460,569.58
Required Overcollateralization Amount 8,539,085.13
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 8,539,085.13
Overcollateralized Amount 207.86
Overcollateralized Deficiency Amount 8,538,877.27
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 0.00
Excess Cash Amount 1,554,716.87
Group Level Collateral Statement
Group Group 1 Group 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed & Mixed ARM
Weighted Average Coupon Rate 9.517816 9.000639 9.221611
Weighted Average Net Rate 9.091783 8.500639 8.753214
Weighted Average Maturity 259 294 279
Beginning Loan Count 1,987 2,119 4,106
Loans Paid In Full 29 37 66
Ending Loan Count 1,958 2,082 4,040
Beginning Scheduled Balance 117,691,999.35 157,762,358.51 275,454,357.86
Ending scheduled Balance 115,512,142.57 154,117,958.85 269,630,101.42
Record Date 09/30/2003 09/30/2003 09/30/2003
Principal And Interest Constant 1,123,174.83 1,357,289.38 2,480,464.21
Scheduled Principal 189,699.12 173,987.74 363,686.86
Unscheduled Principal 1,990,157.66 3,470,411.92 5,460,569.58
Scheduled Interest 933,475.71 1,183,301.64 2,116,777.35
Servicing Fees 41,783.94 65,734.32 107,518.26
Master Servicing Fees 980.78 1,314.68 2,295.46
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 890,710.99 1,116,252.64 2,006,963.63
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 9.081783 8.490639 8.743214