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 : November 17, 2003
(Date of earliest event reported)
Commission File No.: 333-68246-01
First Union Commercial Mortgage Securities, Inc.
Commercial Mortgage Pass-Through Certificates
Series 2001-C4
(Exact name of registrant as specified in its charter)
New York (governing law of Pooling and Servicing Agreement)
(State of Incorporation)
22-3844543
22-3844544
22-3844545
22-6910887
(I.R.S. Employer Identification No.)
c/o Wells Fargo Bank Minnesota, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045
(Address of principal executive offices) (Zip Code)
(410) 884-2000
Registrant's Full Telephone Number
(Former name, former address and former fiscal year,
if changed since last report)
ITEM 5. Other Events
On November 17, 2003 a distribution was made to holders of First Union
Commercial Mortgage Securities, Inc.,Commercial Mortgage Pass-Through
Certificates, Series 2001-C4.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Item 601(a) of
Regulation S-K
Exhibit Number Description
(EX-99.1) Monthly report distributed to holders of Commercial Mortgage
Pass-Through Certificates, Series 2001-C4, relating to the
November 17, 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 Union Commercial Mortgage Securities, Inc.
Commercial Mortgage Pass-Through Certificates
Series 2001-C4
By: Wells Fargo Bank Minnesota, N.A., as Trustee
By: /s/ Beth Belfield, Assistant Vice President
By: Beth Belfield, Assistant Vice President
Date: November 17, 2003
INDEX TO EXHIBITS
Exhibit Number Description
(EX-99.1) Monthly report distributed to holders of Commercial Mortgage
Pass-Through Certificates, Series 2001-C4, relating to the
November 17, 2003 distribution.
EX-99.1
Wells Fargo Bank Minnesota, N.A.
Corporate Trust Services
9062 Old Annapolis Rd
Columbia, MD 21045-1951
First Union Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates
Series 2001-C4
For Additional Information, please contact
CTSLink Customer Service
(301) 815-6600
Reports Available on the World Wide Web
@ www.ctslink.com/cmbs
Payment Date: 11/17/2003
Record Date: 10/31/2003
DISTRIBUTION DATE STATEMENT
Table of Contents
STATEMENT SECTIONS PAGE(s)
Certificate Distribution Detail 2
Certificate Factor Detail 3
Reconciliation Detail 4
Other Required Information 5
Cash Reconciliation 6
Ratings Detail 7
Current Mortgage Loan and Property Stratification Tables 8 - 10
Mortgage Loan Detail 11 - 15
Principal Prepayment Detail 16
Historical Detail 17
Delinquency Loan Detail 18
Specially Serviced Loan Detail 19 - 21
Modified Loan Detail 22
Liquidated Loan Detail 23
Depositor
First Union Commercial Mortgage
Securities, Inc.
201 South College Street
Charlotte, NC 28288-1016
Contact: Tim Steward
Phone Number: (704) 593-7822
Master Servicer
First Union National Bank
Charlotte Plaza, Floor 23 NC-1075
201 South College Street
Charlotte, NC 28288
Contact: Timothy S.Ryan
Phone Number: (704) 593-7878
Special Servicer
Lennar Partners, Inc.
760 N.W.107th Avenue
Miami, FL 33172
Contact: Steve Bruha
Phone Number: (305) 229-6614
This report has been compiled from information provided to Wells Fargo Bank MN,
N.A. by various third parties, which may include the Servicer, Master Servicer,
Special Servicer and others. Wells Fargo Bank MN, N.A. has not independently
confirmed the accuracy of information received from these third parties and
assumes no duty to do so. Wells Fargo Bank MN, N.A. expressly disclaims any
responsibility for the accuracy or completeness of information furnished by
third parties.
Copyright 2003, Wells Fargo Bank Minnesota, N.A.
Certificate Distribution Detail
Class CUSIP Pass-Through Original Beginning Principal
Rate Balance Balance Distribution
<s> <c> <c> <c> <c> <c>
A-1 33736XEA3 5.673000% 286,136,000.00 263,533,920.70 3,022,989.29
A-2 33736XEB1 6.223000% 469,800,000.00 469,800,000.00 0.00
B 33736XEC9 6.417000% 36,696,000.00 36,696,000.00 0.00
C 33736XED7 6.538000% 12,232,000.00 12,232,000.00 0.00
D 33736XEE5 6.617000% 12,232,000.00 12,232,000.00 0.00
E 33736XEF2 6.667000% 17,125,000.00 17,125,000.00 0.00
F 33736XEJ4 6.790000% 12,232,000.00 12,232,000.00 0.00
G 33736XEK1 6.937000% 12,232,000.00 12,232,000.00 0.00
H 33736XEL9 7.036000% 17,125,000.00 17,125,000.00 0.00
J 33736XEM7 7.449317% 14,678,000.00 14,678,000.00 0.00
K 33736XEN5 6.000000% 14,679,000.00 14,679,000.00 0.00
L 33736XEP0 6.000000% 22,017,000.00 22,017,000.00 0.00
M 33736XEQ8 6.000000% 7,339,000.00 7,339,000.00 0.00
N 33736XER6 6.000000% 7,029,000.00 7,029,000.00 0.00
O 33736XES4 6.000000% 6,938,000.00 6,938,000.00 0.00
P 33736XET2 6.000000% 4,626,000.00 4,626,000.00 0.00
Q 33736XEU9 6.000000% 25,443,069.00 25,443,069.00 0.00
Z-I 33736XEX3 0.000000% 0.00 0.00 0.00
Z-II 33736XEY1 0.000000% 0.00 0.00 0.00
R 33736XEW5 0.000000% 0.00 0.00 0.00
Totals 978,559,069.00 955,956,989.70 3,022,989.29
Class CUSIP Interest Prepayment Realized Loss/ Total Ending Current
Distribution Penalties Additional Trust Distribution Balance Subordination
Fund Expenses Level(1)
<s> <c> <c> <c> <c> <c> <c> <c>
A-1 33736XEA3 1,245,856.61 0.00 0.00 4,268,845.90 260,510,931.41 23.36%
A-2 33736XEB1 2,436,304.50 0.00 0.00 2,436,304.50 469,800,000.00 23.36%
B 33736XEC9 196,231.86 0.00 0.00 196,231.86 36,696,000.00 19.51%
C 33736XED7 66,644.01 0.00 0.00 66,644.01 12,232,000.00 18.23%
D 33736XEE5 67,449.29 0.00 0.00 67,449.29 12,232,000.00 16.94%
E 33736XEF2 95,143.65 0.00 0.00 95,143.65 17,125,000.00 15.15%
F 33736XEJ4 69,212.73 0.00 0.00 69,212.73 12,232,000.00 13.86%
G 33736XEK1 70,711.15 0.00 0.00 70,711.15 12,232,000.00 12.58%
H 33736XEL9 100,409.58 0.00 0.00 100,409.58 17,125,000.00 10.78%
J 33736XEM7 91,117.56 0.00 0.00 91,117.56 14,678,000.00 9.24%
K 33736XEN5 73,395.00 0.00 0.00 73,395.00 14,679,000.00 7.70%
L 33736XEP0 110,085.00 0.00 0.00 110,085.00 22,017,000.00 5.39%
M 33736XEQ8 36,695.00 0.00 0.00 36,695.00 7,339,000.00 4.62%
N 33736XER6 35,145.00 0.00 0.00 35,145.00 7,029,000.00 3.88%
O 33736XES4 34,690.00 0.00 0.00 34,690.00 6,938,000.00 3.16%
P 33736XET2 23,130.00 0.00 0.00 23,130.00 4,626,000.00 2.67%
Q 33736XEU9 118,174.78 0.00 0.00 118,174.78 25,443,069.00 0.00%
Z-I 33736XEX3 0.00 0.00 0.00 0.00 0.00 0.00%
Z-II 33736XEY1 0.00 0.00 0.00 0.00 0.00 0.00%
R 33736XEW5 0.00 0.00 0.00 0.00 0.00 0.00%
Totals 4,870,395.72 0.00 0.00 7,893,385.01 952,934,000.41
Original Beginning
Pass-Through Notional Notional
Class CUSIP Rate Amount Amount
<s> <c> <c> <c> <c>
IO-I 33736XEG0 0.759608% 978,559,069.00 955,956,989.70
IO-II 33736XEH8 1.003488% 537,874,000.00 537,874,000.00
Ending
Interest Prepayment Total Notional
Class CUSIP Distribution Penalties Distribution Amount
<s> <c> <c> <c> <c> <c>
IO-I 33736XEG0 605,127.35 0.00 605,127.35 952,934,000.41
IO-II 33736XEH8 449,791.93 0.00 449,791.93 537,874,000.00
<FN>
(1) Calculated by taking (A) the sum of the ending certificate balance of all
classes less (B) the sum of (i) the ending certificate balance of the designated
class and (ii) the ending certificate balance of all classes which are not
subordinate to the designated class and dividing the result by (A).
</FN>
Certificate Factor Detail
Realized Loss/
Beginning Principal Interest Prepayment Additional Trust Ending
Class CUSIP Balance Distribution Distribution Penalties Fund Expenses Balance
<c> <c> <c>
A-1 33736XEA3 921.00931270 10.56486877 4.35407153 0.00000000 0.00000000 910.44444394
A-2 33736XEB1 1,000.00000000 0.00000000 5.18583333 0.00000000 0.00000000 1,000.00000000
B 33736XEC9 1,000.00000000 0.00000000 5.34750000 0.00000000 0.00000000 1,000.00000000
C 33736XED7 1,000.00000000 0.00000000 5.44833306 0.00000000 0.00000000 1,000.00000000
D 33736XEE5 1,000.00000000 0.00000000 5.51416694 0.00000000 0.00000000 1,000.00000000
E 33736XEF2 1,000.00000000 0.00000000 5.55583358 0.00000000 0.00000000 1,000.00000000
F 33736XEJ4 1,000.00000000 0.00000000 5.65833306 0.00000000 0.00000000 1,000.00000000
G 33736XEK1 1,000.00000000 0.00000000 5.78083306 0.00000000 0.00000000 1,000.00000000
H 33736XEL9 1,000.00000000 0.00000000 5.86333314 0.00000000 0.00000000 1,000.00000000
J 33736XEM7 1,000.00000000 0.00000000 6.20776400 0.00000000 0.00000000 1,000.00000000
K 33736XEN5 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
L 33736XEP0 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
M 33736XEQ8 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
N 33736XER6 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
O 33736XES4 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
P 33736XET2 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
Q 33736XEU9 1,000.00000000 0.00000000 4.64467474 0.00000000 0.00000000 1,000.00000000
Z-I 33736XEX3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Z-II 33736XEY1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R 33736XEW5 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Beginnning Ending
Notional Interest Prepayment Notional
Class CUSIP Amount Distribution Penalties Amount
IO-I 33736XEG0 976.90269293 0.61838612 0.00000000 973.81346778
IO-II 33736XEH8 1,000.00000000 0.83624033 0.00000000 1,000.00000000
Reconciliation Detail
Advance Summary
<s> <c>
P & I Advances Outstanding 611,420.75
Servicing Advances Outstanding 40,763.67
Reimbursement for Interest on P&I Advances 0.00
paid from general collections
Reimbursement for Interest on Servicing Advances 0.00
paid from general collections
Aggregate amount of Nonrecoverable Advances 0.00
Current Period Accrued Servicing Fees 46,944.88
Less Delinquent Servicing Fees 1,354.05
Less Reductions to Servicing Fees 0.00
Plus Servicing Fees for Delinquent Payments Received 2,317.14
Plus Adjustments for Prior Servicing Calculation 0.00
Total Servicing Fees Collected 47,907.97
Certificate Interest Reconciliation
Class Accrued Net Aggregate Deferred Distributable Distributable Additional Interest Remaining Unpaid
Certificate Prepayment Interest Certificate Certificate Trust Distribution Distributable
Interest Interest Shortfall Amount Interest Interest Fund Certificate
Adjustment Expenses Interest
<s> <c> <c> <c> <c> <c> <c> <c>
A-1 1,245,856.61 0.00 0.00 1,245,856.61 0.00 0.00 1,245,856.61 0.00
A-2 2,436,304.50 0.00 0.00 2,436,304.50 0.00 0.00 2,436,304.50 0.00
IO-I 605,127.35 0.00 0.00 605,127.35 0.00 0.00 605,127.35 0.00
IO-II 449,791.93 0.00 0.00 449,791.93 0.00 0.00 449,791.93 0.00
B 196,231.86 0.00 0.00 196,231.86 0.00 0.00 196,231.86 0.00
C 66,644.01 0.00 0.00 66,644.01 0.00 0.00 66,644.01 0.00
D 67,449.29 0.00 0.00 67,449.29 0.00 0.00 67,449.29 0.00
E 95,143.65 0.00 0.00 95,143.65 0.00 0.00 95,143.65 0.00
F 69,212.73 0.00 0.00 69,212.73 0.00 0.00 69,212.73 0.00
G 70,711.15 0.00 0.00 70,711.15 0.00 0.00 70,711.15 0.00
H 100,409.58 0.00 0.00 100,409.58 0.00 0.00 100,409.58 0.00
J 91,117.56 0.00 0.00 91,117.56 0.00 0.00 91,117.56 0.00
K 73,395.00 0.00 0.00 73,395.00 0.00 0.00 73,395.00 0.00
L 110,085.00 0.00 0.00 110,085.00 0.00 0.00 110,085.00 0.00
M 36,695.00 0.00 0.00 36,695.00 0.00 0.00 36,695.00 0.00
N 35,145.00 0.00 0.00 35,145.00 0.00 0.00 35,145.00 0.00
O 34,690.00 0.00 0.00 34,690.00 0.00 0.00 34,690.00 0.00
P 23,130.00 0.00 0.00 23,130.00 0.00 0.00 23,130.00 0.00
Q 127,215.35 0.00 0.00 127,215.35 0.00 9,040.57 118,174.78 81,752.66
Z-I 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Z-II 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 5,934,355.57 0.00 0.00 5,934,355.57 0.00 9,040.57 5,925,315.00 81,752.66
Other Required Information
<s> <c>
Available Distribution Amount (1) 8,948,304.29
Aggregate Number of Outstanding Loans 137
Aggregate Stated Principal Balance of Loans Before Distribution 955,956,989.84
Aggregate Stated Principal Balance of Loans After Distribution 952,934,000.55
Aggregate Unpaid Principal Balance of Loans 953,013,543.83
Aggregate Amount of Servicing Fee 47,907.97
Aggregate Amount of Special Servicing Fee 4,472.33
Aggregate Amount of Trustee Fee 1,832.25
Aggregate Trust Fund Expenses (1,613.53)
Interest Reserve Deposit 0.00
Interest Reserve Withdrawal 0.00
Specially Serviced Loans not Delinquent
Number of Outstanding Loans 0
Aggregate Unpaid Principal Balance 0.00
(1) The Available Distribution Amount includes any Prepayment Premiums.
Original Subordination Level
Class A-1 22.750000% Class H 10.500000%
Class A-2 22.750000% Class J 9.000000%
Class B 19.000000% Class K 7.500000%
Class C 17.750000% Class L 5.250000%
Class D 16.500000% Class M 4.500000%
Class E 14.750000% Class N 3.780000%
Class F 13.500000% Class O 3.070000%
Class G 12.250000% Class P 2.600000%
Class Q 0.000000%
Appraisal Reduction Amount
Appraisal Cumulative Date Appraisal
Loan Reduction ASER Reduction
Number Amount Amount Effected
502694601 873,498.58 29,399.23 5/12/03
Total 873,498.58 29,399.23
<s> <c> <c>
Cash Reconciliation Detail
Total Funds Collected
Interest:
Scheduled Interest 5,983,132.68
Interest reductions due to Nonrecoverability Determinations 0.00
Interest Adjustments 0.00
Deferred Interest 0.00
Net Prepayment Interest Shortfall 0.00
Net Prepayment Interest Excess 0.00
Extension Interest 0.00
Interest Reserve Withdrawal 0.00
Total Interest Collected 5,983,132.68
Principal:
Scheduled Principal 3,022,989.29
Unscheduled Principal 0.00
Principal Prepayments 0.00
Collection of Principal after Maturity Date 0.00
Recoveries from Liquidation and Insurance Proceeds 0.00
Excess of Prior Principal Amounts paid 0.00
Curtailments 0.00
Negative Amortization 0.00
Principal Adjustments 0.00
Total Principal Collected 3,022,989.29
Other:
Prepayment Penalties/Yield Maintenance 0.00
Repayment Fees 0.00
Borrower Option Extension Fees 0.00
Equity Payments Received 0.00
Net Swap Counterparty Payments Received 0.00
Total Other Collected: 0.00
Total Funds Collected 9,006,121.97
Total Funds Distributed
Fees:
Master Servicing Fee 46,944.88
Trustee Fee 1,832.25
Certificate Administration Fee 0.00
Insurer Fee 0.00
Miscellaneous Fee 0.00
Total Fees 48,777.13
Additional Trust Fund Expenses:
Reimbursement for Interest on Advances 0.00
ASER Amount 6,181.77
Special Servicing Fee 4,472.33
Rating Agency Expenses 0.00
Attorney Fees & Expenses (1,613.53)
Bankruptcy Expense 0.00
Taxes Imposed on Trust Fund 0.00
Non-Recoverable Advances 0.00
Other Expenses 0.00
Total Additional Trust Fund Expenses 9,040.57
Interest Reserve Deposit 0.00
Payments to Certificateholders & Others:
Interest Distribution 5,925,315.00
Principal Distribution 3,022,989.29
Prepayment Penalties/Yield Maintenance 0.00
Borrower Option Extension Fees 0.00
Equity Payments Paid 0.00
Net Swap Counterparty Payments Paid 0.00
Total Payments to Certificateholders & Others 8,948,304.29
Total Funds Distributed 9,006,121.99
Ratings Detail
Original Ratings Current Ratings (1)
Class CUSIP Fitch Moody's S&P Fitch Moody's S&P
<s> <c> <c> <c> <c> <c> <c>
A-1 33736XEA3 X Aaa AAA X Aaa AAA
A-2 33736XEB1 X Aaa AAA X Aaa AAA
IO-I 33736XEG0 X Aaa AAA X Aaa AAA
IO-II 33736XEH8 X Aaa AAA X Aaa AAA
B 33736XEC9 X Aa2 AA X Aa2 AA
C 33736XED7 X Aa3 AA- X Aa3 AA-
D 33736XEE5 X A1 A+ X A1 A+
E 33736XEF2 X A2 A X A2 A
F 33736XEJ4 X A3 A- X A3 A-
G 33736XEK1 X Baa1 BBB+ X Baa1 BBB+
H 33736XEL9 X Baa2 BBB X Baa2 BBB
J 33736XEM7 X Baa3 BBB- X Baa3 BBB-
K 33736XEN5 X Ba1 BB+ X Ba1 BB+
L 33736XEP0 X Ba2 BB X Ba2 BB
M 33736XEQ8 X Ba3 BB- X Ba3 BB-
N 33736XER6 X B1 B+ X B1 B+
O 33736XES4 X B2 B X B2 B
P 33736XET2 X B3 B- X B3 B-
Q 33736XEU9 X NR NR X NR NR
Z-I 33736XEX3 X N/A NR X NR NR
Z-II 33736XEY1 X N/A NR X NR NR
<FN>
NR - Designates that the class was not rated by the above agency at the
time of original issuance.
X - Designates that the above rating agency did not rate any classes in this
transaction at the time of original issuance.
N/A - Data not available this period.
1) For any class not rated at the time of original issuance by any particular
rating agency, no request has been made subsequent to issuance to obtain rating
information, if any, from such rating agency. The current ratings were obtained
directly from the applicable rating agency within 30 days of the payment date
listed above. The ratings may have changed since they were obtained. Because the
ratings may have changed, you may want to obtain current ratings directly from
the rating agencies.
Fitch, Inc.
One State Street Plaza
New York, New York 10004
(212) 908-0500
Moody's Investors Service
99 Church Street
New York, New York 10007
(212) 553-0300
Standard & Poor's Rating Services
55 Water Street
New York, New York 10041
(212) 438-2430
</FN>
Current Mortgage Loan and Property Stratification Tables
Scheduled Balance
% Of
Scheduled # of Scheduled Agg. WAM Weighted
Balance Loans Balance Bal. (2) WAC Avg DSCR(1)
<s> <c> <c> <c> <c> <c> <c>
Below 1,000,000 7 5,698,515.38 0.60 95 7.7382 1.826296
1,000,001 to 2,000,000 16 23,530,525.97 2.47 97 7.6364 1.529044
2,000,001 to 3,000,000 17 43,389,638.02 4.55 89 7.4616 1.301984
3,000,001 to 4,000,000 15 52,401,090.93 5.50 101 7.4023 1.410859
4,000,001 to 5,000,000 19 86,311,133.20 9.06 86 7.4345 1.310935
5,000,001 to 6,000,000 7 39,459,649.09 4.14 82 7.4363 1.418758
6,000,001 to 7,000,000 12 76,671,391.04 8.05 94 7.3741 1.430581
7,000,001 to 8,000,000 6 44,811,960.30 4.70 94 7.3080 1.360960
8,000,001 to 9,000,000 4 33,046,900.54 3.47 82 7.2802 1.349270
9,000,001 to 10,000,000 7 66,103,464.32 6.94 72 7.1651 1.276051
10,000,001 to 15,000,000 13 161,432,755.25 16.94 84 7.2960 1.346678
15,000,001 to 20,000,000 8 135,386,922.30 14.21 94 7.2480 1.482798
20,000,001 to 25,000,000 2 43,990,461.73 4.62 97 7.0000 1.477500
25,000,001 or greater 4 140,699,592.48 14.76 87 7.1030 1.431040
Totals 137 952,934,000.55 100.00 88 7.2870 1.395738
State(3)
% Of
# of Scheduled Agg. WAM Weighted
State Props Balance Bal. (2) WAC Avg DSCR(1)
<s> <c> <c> <c> <c> <c> <c>
Alaska 1 1,838,603.99 0.19 90 7.8700 1.560000
Arizona 3 7,961,571.36 0.84 91 7.4221 1.171932
Arkansas 2 6,126,957.32 0.64 95 6.9496 1.637598
California 34 176,384,362.18 18.51 86 7.3352 1.364237
Colorado 2 10,661,610.71 1.12 94 7.3821 1.295647
Connecticut 3 31,120,905.62 3.27 95 7.2557 1.361152
Florida 13 55,219,717.48 5.79 87 7.4669 1.368044
Georgia 3 16,132,495.14 1.69 94 7.2778 1.473628
Illinois 5 55,861,900.97 5.86 93 7.3888 1.042786
Indiana 1 2,910,911.33 0.31 92 7.5300 1.280000
Maine 1 19,167,272.54 2.01 97 7.0000 1.350000
Maryland 6 14,844,660.21 1.56 95 7.2121 1.465501
Massachusetts 1 22,388,002.84 2.35 97 7.0000 1.340000
Michigan 7 80,915,551.75 8.49 78 7.3108 1.606133
Minnesota 1 1,210,884.66 0.13 95 6.9200 1.780000
Missouri 1 973,483.35 0.10 91 8.0000 1.360000
Nevada 7 60,356,524.30 6.33 84 7.1918 1.329082
New Jersey 9 71,430,509.40 7.50 94 7.2346 1.474169
New Mexico 1 6,778,123.19 0.71 93 7.8200 1.500000
New York 6 36,111,763.35 3.79 87 7.1515 1.261716
North Carolina 4 37,393,815.24 3.92 91 7.3464 1.449820
North Dakota 1 4,897,390.97 0.51 94 7.2500 1.200000
Oklahoma 1 1,009,702.23 0.11 57 7.4000 1.060000
Pennsylvania 5 50,373,463.65 5.29 82 7.0376 1.470003
Texas 9 38,284,699.89 4.02 76 7.4479 1.569435
Utah 3 17,921,656.12 1.88 105 8.1623 1.311720
Virginia 10 80,943,432.56 8.49 92 7.1658 1.494477
Washington 2 20,463,153.36 2.15 95 7.0000 1.404180
Washington,DC 1 9,416,415.63 0.99 92 7.6250 1.200000
West Virginia 3 13,834,459.21 1.45 96 7.1361 1.271432
Totals 146 952,934,000.55 100.00 88 7.2870 1.395738
Debt Service Coverage Ratio(1)
Debt Service # of Scheduled % of Weighted
Coverage Ratio Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
1.19 or less 24 163,084,953.05 17.11 87 7.2948 1.043727
1.20 to 1.24 12 56,641,692.69 5.94 95 7.3475 1.214433
1.25 to 1.29 17 96,241,321.35 10.10 83 7.5321 1.277228
1.30 to 1.34 15 111,597,745.97 11.71 93 7.2444 1.322714
1.35 to 1.39 10 117,021,881.02 12.28 88 7.2996 1.369825
1.40 to 1.44 7 57,030,101.95 5.98 85 7.0699 1.413852
1.45 to 1.49 7 37,562,941.28 3.94 91 7.2844 1.472363
1.50 to 1.54 8 54,814,537.50 5.75 84 7.5247 1.518388
1.55 to 1.59 7 57,772,140.54 6.06 90 7.4763 1.560372
1.60 to 1.64 5 47,962,186.69 5.03 94 7.0725 1.615152
1.65 to 1.69 9 53,596,194.94 5.62 94 7.3715 1.679648
1.70 or greater 16 99,608,303.57 10.45 85 6.9787 1.841272
Totals 137 952,934,000.55 100.00 88 7.2870 1.395738
Property Type
Property # of Scheduled % of Weighted
Type Props Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
Industrial 12 54,270,689.15 5.70 84 7.4880 1.435423
Mixed Use 5 17,264,909.78 1.81 94 7.3483 1.559227
Multi-Family 57 326,380,488.00 34.25 86 7.1397 1.341927
Office 27 253,293,221.35 26.58 84 7.3429 1.518829
Retail 42 289,512,509.49 30.38 96 7.3643 1.336585
Self Storage 3 12,212,182.78 1.28 96 7.2538 1.275676
Totals 146 952,934,000.55 100.00 88 7.2870 1.395738
Note Rate
Note # of Scheduled % of Weighted
Rate Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
6.749% or less 3 58,757,137.12 6.17 78 6.6719 1.620695
6.750% to 6.999% 11 110,440,469.80 11.59 88 6.9104 1.425152
7.000% to 7.249% 32 287,436,858.48 30.16 91 7.0533 1.400386
7.250% to 7.499% 38 213,930,923.14 22.45 90 7.3476 1.401005
7.500% to 7.749% 29 190,123,302.17 19.95 87 7.5663 1.284662
7.500% to 7.999% 9 34,075,068.43 3.58 83 7.8190 1.363676
8.000% to 8.249% 5 8,628,081.03 0.91 132 8.0969 1.414664
8.250% or greater 10 49,542,160.38 5.20 80 8.3718 1.458680
Totals 137 952,934,000.55 100.00 88 7.2870 1.395738
Seasoning
# of Scheduled % of Weighted
Seasoning Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
12 months or less 0 0.00 0.00 0 0.0000 0.000000
13 to 24 months 28 272,472,820.73 28.59 93 6.9762 1.481276
25 to 36 months 96 628,938,190.53 66.00 87 7.3368 1.350879
37 to 48 months 6 40,485,853.74 4.25 81 8.3871 1.442155
49 months and greater 7 11,037,135.55 1.16 73 8.0893 1.670050
Totals 137 952,934,000.55 100.00 88 7.2870 1.395738
Anticipated Remaining Term (ARD and Balloon Loans)
Anticipated # of Scheduled % of Weighted
Remaining Term(2) Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
60 months or less 13 81,865,734.15 8.59 43 7.3271 1.275093
61 to 84 months 10 49,183,465.91 5.16 79 8.3638 1.483571
85 to 108 months 110 771,252,542.88 80.93 94 7.2441 1.380799
109 to 120 months 0 0.00 0.00 0 0.0000 0.000000
121 months or greater 1 3,177,154.03 0.33 214 8.1700 1.245876
Totals 134 905,478,896.97 95.02 89 7.3157 1.376351
Remaining Stated Term (Fully Amortizing Loans)
Remaining # of Scheduled % of Weighted
Stated Term Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
120 months or less 1 45,157,334.31 4.74 72 6.7000 1.760000
120 to 192 months 1 653,721.91 0.07 181 7.5000 1.970000
193 to 264 months 1 1,644,047.36 0.17 209 7.5300 1.840000
265 to 336 months 0 0.00 0.00 0 0.0000 0.000000
337 months or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 3 47,455,103.58 4.98 78 6.7398 1.765664
Remaining Amortization Term (ARD and Balloon Loans)
Remaining # of Scheduled % of Weighted
Amortization Term Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
Interest Only 6 68,186,361.30 7.16 91 7.1224 1.533242
120 months or less 1 1,024,080.74 0.11 95 7.8750 1.760000
120 to 192 months 0 0.00 0.00 0 0.0000 0.000000
193 to 264 months 13 47,769,211.64 5.01 93 7.8424 1.331285
265 to 336 months 114 788,499,243.29 82.74 88 7.2998 1.365015
337 months or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 134 905,478,896.97 95.02 89 7.3157 1.376351
Age of Most Recent NOI
Age of Most # of Scheduled % of Weighted
Recent NOI Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
Underwriter's Information 5 14,658,672.36 1.54 75 7.6100 1.304115
1 year or less 130 922,647,852.07 96.82 89 7.2836 1.402855
1 to 2 years 2 15,627,476.12 1.64 56 7.1862 1.061491
2 years or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 137 952,934,000.55 100.00 88 7.2870 1.395738
<FN>
(1)The Trustee makes no representations as to the accuracy of the data provided
by the borrower for this calculation. "NAP" means not applicable and relates to
the omission of credit lease loans in the calculation of DSCR.
(2)Anticipated Remaining Term and WAM are each calculated based upon the term
from the current month to the earlier of the Anticipated Repayment Date, if
applicable, and the maturity date.
(3)Data in this table was calculated by allocating pro-rata the current loan
information to the properties based upon the Cut-off Date Balance of the related
mortgage loan as disclosed in the offering document.
</FN>
Mortgage Loan Detail
Loan Property Interest Principal Gross
Number ODCR Type(1) City State Payment Payment Coupon
<s> <c> <c> <c> <c> <c> <c> <c>
502717405 1 OF Detroit MI 264,967.92 2,299,605.69 6.700%
510000176 2 OF Little Falls NJ 217,913.71 23,822.59 7.375%
265950581 3 RT Orland Park IL 217,183.36 21,948.03 7.560%
502708001 4 OF Berwyn PA 160,074.71 27,150.00 6.875%
502709418 5 RT Sturbridge MA 135,050.20 16,638.77 7.000%
510000202 6 Various Various NJ 130,311.60 16,054.95 7.000%
502709417 7 RT Augusta ME 115,621.93 14,245.12 7.000%
502694905 8 MF Yorktown VA 106,337.18 13,417.27 7.000%
502700407 9 MF Summerlin NV 105,701.17 12,857.28 7.067%
502705804 10 OF Durham NC 113,652.65 9,420.22 7.530%
502713101 11 MF Pasedena CA 99,214.51 12,223.66 7.000%
502709419 12 RT Lisbon CT 99,036.81 12,201.77 7.000%
502707905 13 MF Richmond VA 96,079.09 11,418.03 7.160%
528000014 14 OF Troy MI 109,932.73 8,560.52 8.350%
502682901 15 RT Marlton NJ 90,966.05 10,649.17 7.180%
265950628 16 MF Carrboro NC 87,580.71 11,628.24 6.990%
502700406 17 MF Henderson NV 86,005.46 10,457.60 7.068%
510000190 18 RT Redmond WA 77,760.07 9,727.21 7.000%
265950625 19 MF Fredericksburg VA 75,577.26 10,034.53 6.990%
502715603 20 OF Dallas TX 80,529.21 13,610.56 7.625%
510000177 21 RT Wethersfield CT 79,636.26 8,013.48 7.570%
502710308 22 RT Santa Ana CA 70,783.33 0.00 6.850%
528000023 23 OF Clearfield UT 85,921.18 6,688.93 8.450%
510000173 24 IN Antioch CA 77,256.48 7,670.51 7.624%
628000025 25 MF Oviedo FL 76,468.03 8,096.05 7.580%
502701001 26 MF Midlothian VA 67,756.05 22,346.81 7.250%
502696703 27 MF Chicago IL 58,786.94 8,155.65 6.770%
502694601 28 MF Las Vegas NV 60,357.03 9,263.03 7.125%
510000199 29 RT Modesto CA 61,352.02 6,865.61 7.250%
502700901 30 OF Washington DC 61,867.85 6,080.35 7.625%
528000031 31 MF Cecil Township PA 55,374.01 7,530.88 6.850%
510000198 32 MF New York NY 53,248.26 7,774.78 6.610%
510000178 33 MF Hollis NY 57,539.25 6,585.32 7.250%
510000201 34 IN San Diego CA 58,425.07 6,005.45 7.450%
502704402 35 MF Reno NV 52,726.98 5,940.18 7.250%
265950627 36 MF Virginia Beach VA 50,236.65 6,670.01 6.990%
510000170 37 OF Placentia CA 52,201.56 5,762.71 7.390%
265950659 38 MF Azusa CA 52,156.10 5,459.18 7.500%
528000039 39 MF Mount Lebanon PA 50,193.18 5,361.02 7.430%
510000180 40 MF Colorado Springs CO 48,409.09 5,256.37 7.375%
510000192 41 OF Federal Way WA 45,680.35 5,714.26 7.000%
502693202 42 OF Henderson NV 47,551.99 4,837.75 7.490%
502676401 43 RT Dalton GA 45,650.52 5,081.73 7.300%
510000183 44 MF Athens GA 44,715.46 5,083.41 7.250%
528000045 45 IN Los Angeles CA 44,769.38 13,097.81 7.650%
502683801 46 RT Loxahatchee FL 45,522.00 4,324.87 7.688%
510000181 47 RT Santa Fe NM 45,670.71 4,095.92 7.820%
510000197 48 RT Hyde Park NY 42,721.84 7,529.56 7.500%
510000175 49 RT Davison MI 42,763.33 4,433.65 7.500%
502700408 50 OF Rancho Cucamonga CA 37,808.78 4,770.58 7.000%
502708301 51 OF Kensington MD 37,287.67 7,769.50 7.000%
510000206 52 RT Houston TX 38,835.95 7,226.06 7.290%
510000210 53 MF Parkersburg WV 36,906.84 4,566.14 6.990%
628000054 54 RT Manteca CA 39,293.69 4,150.72 7.440%
510000209 55 MF South Charleston WV 36,764.89 4,548.57 6.990%
628000056 56 RT San Diego CA 38,962.15 4,039.54 7.500%
502704503 57 MU Palm Beach FL 36,752.43 4,178.15 7.250%
510000184 58 RT Beekman NY 37,488.03 6,734.42 7.470%
510000200 59 SS Los Angeles CA 36,442.82 6,047.33 7.290%
628000060 60 MF Glendale CA 34,896.01 4,199.24 7.130%
528000061 61 RT Pleasant Hill CA 39,311.24 6,813.10 8.250%
502681201 62 RT South Gate CA 35,229.99 3,696.20 7.440%
502693511 63 RT Buffalo Grove IL 32,785.46 3,742.84 7.240%
528000064 64 MF Fargo ND 30,596.40 3,478.31 7.250%
510000171 65 RT Plantation FL 31,190.23 3,428.76 7.400%
502695901 66 IN Bedford Park IL 30,789.66 9,490.00 7.500%
528000067 67 OF Troy MI 34,820.95 5,148.98 8.350%
502664903 68 MF Blacksburg VA 28,953.54 3,384.95 7.125%
502684301 69 RT North Lauderdale FL 29,025.49 3,426.47 7.160%
502699109 70 OF San Diego CA 30,703.14 3,089.53 7.570%
628000071 71 OF San Diego CA 28,135.46 3,466.41 7.000%
528000072 72 OF Troy MI 32,938.47 4,870.63 8.350%
528000073 73 MF Cottonwood AZ 27,942.26 3,338.59 7.110%
528000074 74 RT Van Nuys CA 31,102.34 2,875.82 7.900%
510000203 75 SS Farmingdale NY 27,375.86 5,430.02 7.100%
502707510 76 MF Roanoke VA 27,896.25 3,265.75 7.180%
502701003 77 MF Tampa FL 30,147.85 2,807.11 7.750%
502697001 78 IN Houston TX 27,564.32 3,133.61 7.250%
510000205 79 MF Various CA 23,859.31 3,600.99 6.510%
628000080 80 MF Glendale CA 25,269.53 3,040.82 7.130%
502675902 81 MF Harrisonburg VA 27,526.30 2,563.01 7.750%
502700409 82 MU Los Angeles CA 27,188.14 2,455.46 7.820%
502705801 83 MF Tallahassee FL 25,594.38 4,650.94 7.480%
510000194 84 OF Gaithersburg MD 25,395.94 2,572.64 7.500%
628000085 85 MF Fayetteville AR 23,653.25 2,958.85 7.000%
502702614 86 MF El Cajon CA 23,630.49 2,981.61 7.000%
502709701 87 MF Panama City FL 23,350.82 2,860.80 7.050%
502706203 88 RT Greenville NC 25,729.94 2,345.48 7.880%
528000089 89 IN Rancho Cordova CA 22,201.40 2,663.79 7.100%
502694903 90 RT West Palm Beach FL 22,796.74 3,357.19 7.770%
510000185 91 RT West Jordan UT 22,392.77 5,771.68 8.170%
502701701 92 IN Houston TX 21,310.35 2,080.90 7.640%
510000186 93 OF Coral Gables FL 20,612.50 1,834.44 7.375%
528000094 94 MF Grand Rapids MI 19,173.35 2,310.10 7.090%
528000095 95 IN Brea CA 20,034.57 2,143.42 7.410%
528000096 96 RT Englewood CO 19,411.53 2,052.25 7.400%
502692006 97 RT Plano TX 18,999.63 2,081.68 7.300%
502708803 98 RT Odessa TX 19,058.92 1,917.52 7.500%
502707505 99 MF Provo UT 17,752.89 2,206.19 7.000%
502695608 100 RT Huntington IN 18,887.37 1,933.33 7.530%
502689301 101 OF Havertown PA 18,041.77 1,958.17 7.360%
502672306 102 RT Abilene TX 17,391.97 2,065.02 7.125%
502706201 103 RT Lynchburg VA 19,566.71 1,481.63 8.470%
628000104 104 RT Vacaville CA 16,532.05 1,647.53 7.500%
502703401 105 RT Cypress CA 16,507.36 1,672.22 7.500%
510000193 106 MF Waterbury CT 15,904.93 1,681.52 7.400%
502713603 107 MF Lebanon PA 16,534.17 4,376.83 8.000%
265950568 108 RT Kewanee IL 16,166.86 1,531.66 7.710%
528000109 109 MF Atwater CA 14,487.62 1,812.30 7.000%
502698105 110 MU McAllen TX 15,118.37 1,630.50 7.375%
502695609 111 RT Casa Grande AZ 15,000.48 1,535.46 7.530%
265950602 112 RT Palm Desert CA 15,154.07 1,479.08 7.625%
502711512 113 MF Pine Bluff AR 13,040.73 1,717.62 6.860%
502704601 114 MF Homestead FL 13,858.76 2,549.63 7.350%
502682401 115 IN Las Vegas NV 12,669.37 1,301.23 7.490%
502702501 116 SS Hesperia CA 12,548.11 2,231.71 7.500%
528000117 117 OF Juneau AK 12,467.71 1,120.84 7.870%
528000118 118 MF Atlanta GA 10,813.00 2,037.76 7.300%
528000119 119 RT Moreno Valley CA 10,683.39 3,565.14 7.530%
502711509 120 MF Baltimore MD 10,061.73 1,125.96 7.250%
528000121 121 RT Summersville WV 11,401.70 881.51 8.250%
528000122 122 MF Charlotte NC 9,751.72 1,875.12 7.310%
528000123 123 MF Carlsbad CA 8,869.43 919.58 7.500%
502711508 124 MU Baltimore MD 8,544.94 971.42 7.250%
528000125 125 OF Troy MI 9,420.89 1,393.07 8.350%
528000126 126 MF Fernley NV 9,053.46 854.29 8.200%
528000127 127 MF St. Cloud MN 7,224.74 1,546.31 6.920%
502695001 128 RT Houston TX 6,995.30 7,484.87 7.875%
528000129 129 IN Tucson AZ 7,981.55 1,278.57 8.500%
528000130 130 MF Oklahoma City OK 6,444.33 1,613.16 7.400%
265950478 131 MF Lee`s Summit MO 6,713.35 1,035.69 8.000%
501711510 132 MF Baltimore MD 5,791.63 648.11 7.250%
265950586 133 MF Lakewood NJ 6,124.58 411.19 8.500%
502711507 134 MF Baltimore MD 5,194.34 590.52 7.250%
528000135 135 IN Fresno CA 5,555.46 1,033.16 8.050%
528000136 136 OF Los Angeles CA 4,402.67 1,089.96 7.550%
528000137 137 OF Smithtown NY 4,097.91 1,944.04 7.500%
Totals 5,983,132.68 3,022,989.29
Loan Anticipated Neg Beginning Ending Paid
Number Repayment Maturity Amort Scheduled Scheduled Thru
Date Date (Y/N) Balance Balance Date
<s> <c> <c> <c> <c> <c> <c>
502717405 N/A 11/01/2009 N 47,456,940.00 45,157,334.31 11/01/2003
510000176 N/A 07/01/2011 N 34,313,367.32 34,289,544.73 11/01/2003
265950581 N/A 07/01/2011 N 33,361,499.20 33,339,551.17 11/01/2003
502708001 N/A 12/01/2011 N 27,940,312.27 27,913,162.27 11/01/2003
502709418 N/A 12/01/2011 N 22,404,641.61 22,388,002.84 11/01/2003
510000202 N/A 12/01/2011 N 21,618,513.84 21,602,458.89 11/01/2003
502709417 N/A 12/01/2011 N 19,181,517.66 19,167,272.54 11/01/2003
502694905 N/A 09/01/2011 N 17,641,191.84 17,627,774.57 11/01/2003
502700407 N/A 10/01/2011 N 17,368,936.85 17,356,079.57 11/01/2003
502705804 N/A 08/01/2011 N 17,527,719.43 17,518,299.21 11/01/2003
502713101 N/A 12/01/2011 N 16,459,550.28 16,447,326.62 11/01/2003
502709419 N/A 12/01/2011 N 16,430,070.44 16,417,868.67 11/01/2003
502707905 N/A 08/01/2011 N 15,583,200.21 15,571,782.18 11/01/2003
528000014 N/A 10/01/2010 N 15,289,079.46 15,280,518.94 11/01/2003
502682901 N/A 09/01/2011 N 14,712,811.80 14,702,162.63 11/01/2003
265950628 N/A 04/01/2011 N 14,550,305.39 14,538,677.15 11/01/2003
502700406 N/A 10/01/2011 N 14,130,715.22 14,120,257.62 11/01/2003
510000190 N/A 10/01/2011 N 12,900,288.34 12,890,561.13 11/01/2003
265950625 N/A 04/01/2011 N 12,556,100.99 12,546,066.46 11/01/2003
502715603 10/01/2006 10/01/2011 N 12,264,628.29 12,251,017.73 11/01/2003
510000177 N/A 07/01/2011 N 12,216,752.76 12,208,739.28 11/01/2003
502710308 N/A 11/01/2011 N 12,000,000.00 12,000,000.00 11/01/2003
528000023 N/A 05/01/2010 N 11,808,217.81 11,801,528.88 11/01/2003
510000173 N/A 06/01/2008 N 11,767,733.85 11,760,063.34 11/01/2003
628000025 N/A 01/01/2011 N 11,715,248.40 11,707,152.35 11/01/2003
502701001 N/A 09/01/2011 N 10,853,027.50 10,830,680.69 11/01/2003
502696703 N/A 09/01/2011 N 10,084,003.64 10,075,847.99 11/01/2003
502694601 N/A 08/01/2006 N 9,837,478.44 9,828,215.41 07/01/2003
510000199 11/01/2011 11/01/2031 N 9,827,241.71 9,820,376.10 11/01/2003
502700901 N/A 07/01/2011 N 9,422,495.98 9,416,415.63 11/01/2003
528000031 N/A 07/01/2006 N 9,387,634.80 9,380,103.92 11/01/2003
510000198 N/A 11/01/2011 N 9,355,020.52 9,347,245.74 11/01/2003
510000178 N/A 08/01/2008 N 9,216,520.85 9,209,935.53 11/01/2003
510000201 N/A 11/01/2011 N 9,107,177.44 9,101,171.99 11/01/2003
502704402 N/A 10/01/2011 N 8,445,701.18 8,439,761.00 11/01/2003
265950627 N/A 04/01/2011 N 8,346,114.20 8,339,444.19 11/01/2003
510000170 N/A 05/01/2008 N 8,203,134.75 8,197,372.04 11/01/2003
265950659 N/A 06/01/2011 N 8,075,782.49 8,070,323.31 11/01/2003
528000039 N/A 07/01/2011 N 7,845,068.58 7,839,707.56 11/01/2003
510000180 N/A 08/01/2011 N 7,622,645.57 7,617,389.20 11/01/2003
510000192 N/A 10/01/2011 N 7,578,306.49 7,572,592.23 11/01/2003
502693202 N/A 10/01/2011 N 7,372,718.34 7,367,880.59 11/01/2003
502676401 N/A 09/01/2011 N 7,262,124.13 7,257,042.40 10/01/2003
510000183 N/A 09/01/2011 N 7,162,431.73 7,157,348.32 11/01/2003
528000045 N/A 02/01/2011 N 6,796,110.08 6,783,012.27 11/01/2003
502683801 N/A 08/01/2011 N 6,876,651.96 6,872,327.09 11/01/2003
510000181 N/A 08/01/2011 N 6,782,219.11 6,778,123.19 11/01/2003
510000197 10/01/2011 10/01/2026 N 6,614,994.05 6,607,464.49 11/01/2003
510000175 N/A 07/01/2011 N 6,621,419.23 6,616,985.58 11/01/2003
502700408 N/A 09/01/2011 N 6,272,423.76 6,267,653.18 11/01/2003
502708301 N/A 10/01/2011 N 6,185,973.03 6,178,203.53 11/01/2003
510000206 N/A 12/01/2011 N 6,186,530.76 6,179,304.70 11/01/2003
510000210 N/A 12/01/2011 N 6,131,553.25 6,126,987.11 11/01/2003
628000054 N/A 08/01/2011 N 6,133,249.51 6,129,098.79 11/01/2003
510000209 N/A 12/01/2011 N 6,107,970.52 6,103,421.95 11/01/2003
628000056 N/A 07/01/2011 N 6,032,848.70 6,028,809.16 11/01/2003
502704503 N/A 09/01/2011 N 5,886,930.15 5,882,752.00 11/01/2003
510000184 09/01/2011 09/01/2026 N 5,827,909.88 5,821,175.46 11/01/2003
510000200 N/A 11/01/2011 N 5,805,308.04 5,799,260.71 11/01/2003
628000060 N/A 08/01/2006 N 5,683,647.19 5,679,447.95 11/01/2003
528000061 N/A 08/01/2009 N 5,533,546.28 5,526,733.18 11/01/2003
502681201 N/A 09/01/2011 N 5,498,957.25 5,495,261.05 11/01/2003
502693511 N/A 09/01/2011 N 5,258,761.58 5,255,018.74 11/01/2003
528000064 N/A 09/01/2011 N 4,900,869.28 4,897,390.97 11/01/2003
510000171 N/A 05/01/2011 N 4,894,718.63 4,891,289.87 11/01/2003
502695901 N/A 09/01/2011 N 4,767,431.30 4,757,941.30 11/01/2003
528000067 N/A 10/01/2010 N 4,842,781.90 4,837,632.92 11/01/2003
502664903 N/A 12/01/2011 N 4,719,083.56 4,715,698.61 11/01/2003
502684301 N/A 09/01/2011 N 4,707,684.38 4,704,257.91 11/01/2003
502699109 N/A 07/01/2011 N 4,710,073.37 4,706,983.84 11/01/2003
628000071 N/A 12/01/2011 N 4,667,633.63 4,664,167.22 11/01/2003
528000072 N/A 10/01/2010 N 4,580,973.45 4,576,102.82 11/01/2003
528000073 N/A 10/01/2011 N 4,563,864.17 4,560,525.58 11/01/2003
528000074 N/A 01/01/2011 N 4,572,006.39 4,569,130.57 11/01/2003
510000203 N/A 12/01/2011 N 4,477,650.24 4,472,220.22 11/01/2003
502707510 N/A 09/01/2011 N 4,511,928.99 4,508,663.24 11/01/2003
502701003 N/A 07/01/2006 N 4,517,471.73 4,514,664.62 10/01/2003
502697001 N/A 09/01/2011 N 4,415,197.76 4,412,064.15 11/01/2003
510000205 N/A 12/01/2011 N 4,256,158.06 4,252,557.07 11/01/2003
628000080 N/A 08/01/2006 N 4,115,744.62 4,112,703.80 11/01/2003
502675902 N/A 07/01/2011 N 4,124,648.16 4,122,085.15 11/01/2003
502700409 N/A 07/01/2011 N 4,037,508.80 4,035,053.34 11/01/2003
502705801 N/A 07/01/2011 N 3,973,597.50 3,968,946.56 11/01/2003
510000194 N/A 10/01/2011 N 3,932,275.29 3,929,702.65 11/01/2003
628000085 N/A 10/01/2011 N 3,924,042.07 3,921,083.22 11/01/2003
502702614 N/A 09/01/2011 N 3,920,264.87 3,917,283.26 11/01/2003
502709701 N/A 10/01/2011 N 3,846,394.62 3,843,533.82 11/01/2003
502706203 N/A 03/01/2011 N 3,791,869.96 3,789,524.48 11/01/2003
528000089 N/A 10/01/2011 N 3,631,306.18 3,628,642.39 11/01/2003
502694903 N/A 07/01/2011 N 3,407,159.54 3,403,802.35 11/01/2003
510000185 N/A 09/01/2021 N 3,182,925.71 3,177,154.03 10/01/2003
502701701 07/01/2011 07/01/2021 N 3,239,202.29 3,237,121.39 11/01/2003
510000186 N/A 08/01/2011 N 3,245,708.73 3,243,874.29 11/01/2003
528000094 N/A 10/01/2011 N 3,140,454.57 3,138,144.47 11/01/2003
528000095 N/A 08/01/2011 N 3,139,804.60 3,137,661.18 11/01/2003
528000096 N/A 10/01/2011 N 3,046,273.76 3,044,221.51 11/01/2003
502692006 N/A 11/01/2011 N 3,022,477.01 3,020,395.33 11/01/2003
502708803 N/A 11/01/2011 N 2,951,057.98 2,949,140.46 11/01/2003
502707505 N/A 11/01/2011 N 2,945,179.40 2,942,973.21 11/01/2003
502695608 N/A 07/01/2011 N 2,912,844.66 2,910,911.33 11/01/2003
502689301 N/A 09/01/2008 N 2,846,703.25 2,844,745.08 11/01/2003
502672306 N/A 10/01/2011 N 2,834,684.99 2,832,619.97 11/01/2003
502706201 N/A 07/01/2010 N 2,682,719.10 2,681,237.47 11/01/2003
628000104 N/A 12/01/2011 N 2,559,800.81 2,558,153.28 11/01/2003
502703401 N/A 10/01/2011 N 2,555,978.88 2,554,306.66 11/01/2003
510000193 N/A 10/01/2011 N 2,495,979.19 2,494,297.67 10/01/2003
502713603 N/A 11/01/2011 N 2,400,121.65 2,395,744.82 04/01/2003
265950568 N/A 07/01/2011 N 2,435,073.43 2,433,541.77 11/01/2003
528000109 N/A 10/01/2008 N 2,403,475.56 2,401,663.26 11/01/2003
502698105 N/A 09/01/2011 N 2,380,585.92 2,378,955.42 11/01/2003
502695609 N/A 07/01/2011 N 2,313,401.08 2,311,865.62 11/01/2003
265950602 N/A 08/01/2011 N 2,307,970.36 2,306,491.28 11/01/2003
502711512 N/A 11/01/2011 N 2,207,591.72 2,205,874.10 11/01/2003
502704601 N/A 11/01/2011 N 2,189,666.25 2,187,116.62 11/01/2003
502682401 N/A 09/01/2011 N 1,964,327.78 1,963,026.55 10/01/2003
502702501 N/A 09/01/2011 N 1,942,933.56 1,940,701.85 11/01/2003
528000117 N/A 05/01/2011 N 1,839,724.83 1,838,603.99 11/01/2003
528000118 N/A 10/01/2011 N 1,720,142.18 1,718,104.42 11/01/2003
528000119 N/A 04/01/2021 N 1,647,612.50 1,644,047.36 11/01/2003
502711509 N/A 11/01/2011 N 1,611,667.67 1,610,541.71 11/01/2003
528000121 N/A 03/01/2011 N 1,604,931.66 1,604,050.15 11/01/2003
528000122 N/A 07/01/2011 N 1,549,189.52 1,547,314.40 11/01/2003
528000123 N/A 07/01/2011 N 1,373,331.20 1,372,411.62 11/01/2003
502711508 N/A 09/01/2011 N 1,368,711.28 1,367,739.86 11/01/2003
528000125 N/A 10/01/2010 N 1,310,225.78 1,308,832.71 11/01/2003
528000126 N/A 08/01/2009 N 1,282,157.85 1,281,303.56 11/01/2003
528000127 N/A 10/01/2011 N 1,212,430.97 1,210,884.66 11/01/2003
502695001 N/A 10/01/2011 N 1,031,565.61 1,024,080.74 11/01/2003
528000129 N/A 08/01/2009 N 1,090,458.73 1,089,180.16 11/01/2003
528000130 N/A 08/01/2008 N 1,011,315.39 1,009,702.23 11/01/2003
265950478 N/A 06/01/2011 N 974,519.04 973,483.35 11/01/2003
501711510 N/A 11/01/2011 N 927,691.75 927,043.64 11/01/2003
265950586 N/A 06/01/2011 N 836,754.34 836,343.15 10/01/2003
502711507 N/A 09/01/2011 N 832,019.34 831,428.82 11/01/2003
528000135 N/A 07/01/2009 N 801,428.43 800,395.27 11/01/2003
528000136 N/A 04/01/2008 N 677,189.20 676,099.24 11/01/2003
528000137 N/A 12/01/2018 N 655,665.95 653,721.91 11/01/2003
Totals 955,956,989.84 952,934,000.55
Appraisal Appraisal Res Mod
Loan Number Reduction Reduction Strat. Code
Date Amount (2) (3)
502694601 5/12/2003 873,498.58 13
502701003 13
510000185 13
502713603 13
265950586 13
Totals 873,498.58
(1) Property Type Code
SS- Self Storage
MF- Multi-Family
RT- Retail
HC- Health Care
IN- Industrial
WH- Warehouse
MH- Mobile Home Park
OF- Office
LO- Lodging
MU- Mixed Use
OT- Other
IW- Industrial/Warehouse
(2) Resolution Strategy Code
1- Modification
2- Foreclosure
3- Bankruptcy
4- Extension
5- Note Sale
6- DPO
7- REO
8- Resolved
9- Pending Return to Master Servicer
10- Deed In Lieu of Foreclosure
11- Full Payoff
12- Reps and Warranties
13- Other or TBD
(3) Modification Code
1- Maturity Date Extension
2- Amortization Change
3- Principal Write-Off
4- Combination
Principal Prepayment Detail
No Principal Prepayments this Period
Historical Detail
Delinquencies
Distribution 30-59 Days 60-89 Days 90 Days or More Foreclosure REO Modifications
Date # Balance # Balance # Balance # Balance # Balance # Balance
11/17/2003 0 $0.00 0 $0.00 2 $12,223,960.23 0 $0.00 0 $0.00 0 $0.00
10/15/2003 0 0.00 1 $9,837,478.44 1 2,400,121.65 0 $0.00 0 $0.00 0 $0.00
09/12/2003 0 0.00 1 $9,848,622.31 1 2,404,999.32 0 $0.00 0 $0.00 0 $0.00
08/14/2003 1 $9,857,760.90 0 0.00 1 2,409,312.83.00 0 $0.00 0 $0.00 0 $0.00
07/14/2003 0 $0.00 1 $2,413,596.83 0 $0.00 0 $0.00 0 $0.00 0 $0.00
06/13/2003 0 $0.00 0 $0.00 1 $2,418,385.26 0 $0.00 0 $0.00 0 $0.00
05/14/2003 1 $4,533,134.49 0 $0.00 1 $2,422,607.19 0 $0.00 0 $0.00 0 $0.00
04/14/2003 0 $0.00 0 $0.00 1 $2,427,335.95 0 $0.00 0 $0.00 0 $0.00
03/14/2003 0 $0.00 1 $9,906,467.53 1 $2,431,496.64 0 $0.00 0 $0.00 0 $0.00
02/14/2003 0 $0.00 1 $9,921,108.12 1 $2,437,242.58 0 $0.00 0 $0.00 0 $0.00
01/14/2003 0 $0.00 0 $0.00 2 $12,371,140.18 0 $0.00 0 $0.00 0 $0.00
12/13/2002 0 $0.00 1 $2,445,400.40 1 $9,938,448.23 0 $0.00 0 $0.00 0 $0.00
Prepayments
Distribution Curtailments Payoff
Date # Amount # Amount
11/17/2003 0 $0.00 0 $0.00
10/15/2003 0 $0.00 0 $0.00
09/12/2003 0 $0.00 0 $0.00
08/14/2003 0 $0.00 0 $0.00
07/14/2003 0 $0.00 0 $0.00
06/13/2003 0 $0.00 0 $0.00
05/14/2003 0 $0.00 0 $0.00
04/14/2003 0 $0.00 0 $0.00
03/14/2003 0 $0.00 0 $0.00
02/14/2003 0 $0.00 0 $0.00
01/14/2003 0 $0.00 0 $0.00
12/13/2002 0 $0.00 0 $0.00
Rate and Maturities
Distribution Next Weighted Avg. WAM
Date Coupon Remit
11/17/2003 7.287031% 7.215224% 88
10/15/2003 7.285648% 7.213553% 89
09/12/2003 7.285691% 7.213598% 90
08/14/2003 7.285720% 7.213629% 91
07/14/2003 7,285746% 7,213657% 92
06/13/2003 7.285784% 7.214135% 93
05/14/2003 7.285810% 7.218197% 94
04/14/2003 7.284544% 7.216657% 95
03/14/2003 7.284570% 7.216686% 96
02/14/2003 7.284632% 7.216754% 97
01/14/2003 7.284657% 7.216782% 98
12/13/2002 7.284682% 7.218076% 99
<FN>
Note: Foreclosure and REO Totals are excluded from the delinquencies aging
categories.
</FN>
Delinquency Loan Detail
Offering # of Paid Current Outstanding Status of
Loan Number Document Months Through P & I P & I Mortgage
Cross-Reference Delinq. Date Advances Advances** Loan(1)
<s> <c> <c> <c> <c> <c> <c>
502694601 28 3 07/01/2003 63,028.40 316,647.37 3
502676401 43 0 10/01/2003 50,429.67 50,429.67 B
502701003 77 0 10/01/2003 32,766.74 32,766.74 B
510000185 91 0 10/01/2003 28,031.83 28,031.83 B
510000193 106 0 10/01/2003 17,482.45 17,482.45 B
502713603 107 6 04/01/2003 20,810.99 145,673.02 3
502682401 115 0 10/01/2003 13,888.76 13,888.76 B
265950586 133 0 10/01/2003 6,500.91 6,500.91 B
Totals 8 232,939.75 611,420.75
Resolution Actual Outstanding
Loan Number Strategy Servicing Foreclosure Principal Servicing Bankruptcy REO
Code(2) Transfer Date Date Balance Advances Date Date
<s> <c> <c> <c> <c> <c> <c> <c>
502694601 13 10/04/2002 9,859,113.10 12,276.77
502676401 7,262,124.13 0.00
502701003 13 05/30/2003 4,517,471.73 8,120.15
510000185 13 04/18/2003 3,182,925.71 0.00
510000193 2,495,979.19 0.00
502713603 13 12/27/2002 2,427,335.95 20,366.75
502682401 1,964,327.78 0.00
265950586 13 06/26/2003 836,754.34 0.00
Totals 32,546,031.93 40,763.67
Current Outstanding Actual Outstanding
P & I P & I Principal Servicing
Advances Advances Balance Advances
Totals by Delinquency Code:
Total for Status Code = 3 (2 Loans) 83,839.39 462,320.39 12,286,449.05 32,643.52
Total for Status Code = B (6 Loans) 149,100.36 149,100.36 20,259,582.88 8,120.15
(1) Status of Mortgage Loan
A- Payment Not Received But Still in Grace Period
B- Late Payment But Less Than 1 Month Delinquent
0- Current
1- One Month Delinquent
2- Two Months Delinquent
3- Three Or More Months Delinquent
4- Assumed Scheduled Payment (Performing Matured Balloon)
7- Foreclosure
9- REO
(2) Resolution Strategy Code
1- Modification
2- Foreclosure
3- Bankruptcy
4- Extension
5- Note Sale
6- DPO
7- REO
8- Resolved
9- Pending Return to Master Servicer
10- Deed In Lieu Of Foreclosure
11- Full Payoff
12- Reps and Warranties
13- Other or TBD
**Outstanding P & I Advances include the current period advance.
Specially Serviced Loan Detail - Part 1
Offering Servicing Resolution
Loan Document Transfer Strategy Scheduled Property State Interest Actual
Number Cross-Reference Date Code (1) Balance Type (2) Rate Balance
<c>
502694601 28 10/04/2002 13 9,828,215.41 MF NV 7.125% 9,859,113.10
502701003 77 05/30/2003 13 4,514,664.62 MF FL 7.750% 4,517,471.73
510000185 91 04/18/2003 13 3,177,154.03 RT UT 8.170% 3,182,925.71
502713603 107 12/27/2002 13 2,395,744.82 MF PA 8.000% 2,427,335.95
265950586 133 06/26/2003 13 836,343.15 MF NJ 8.500% 836,754.34
Net Remaining
Loan Operating DSCR DSCR Note Maturity Amortization
Number Income Date Date Date Term
502694601 803,246.00 12/31/2001 0.99 09/01/2001 08/01/2006 332
502701003 1.21 08/01/2001 07/01/2006 331
510000185 421,072.80 12/31/2002 1.25 10/01/2001 09/01/2021 213
502713603 1.29 12/01/2001 11/01/2011 215
265950586 1.29 07/01/2001 06/01/2011 330
<fn>
(1) Resolution Strategy Code
1- Modification
2- Foreclosure
3- Bankruptcy
4- Extension
5- Note Sale
6- DPO
7- REO
8- Resolved
9- Pending Return to Master Servicer
10- Deed in Lieu of Foreclosure
11- Full Payoff
12- Reps and Warranties
13- Other or TBD
(2) Property Type Code
MF- Multi-Family
RT- Retail
HC- Health Care
IN- Industrial
WH- Warehouse
MH- Mobile Home Park
OF- Office
MU- Mixed Use
LO- Lodging
SS- Self Storage
OT- Other
</fn>
Specially Serviced Loan Detail - Part 2
Offering Resolution Site
Loan Document Strategy Inspection Phase 1 Date Appraisal Appraisal Other REO
Number Cross-Reference Code (1) Date Date Value Property Revenue
502694601 28 13 01/13/2003 20,500,000.00
502701003 77 13 6,100,000.00
510000185 91 13 5,325,000.00
502713603 107 13 4,600,000.00
265950586 133 13
Comments from Special Servicer
Loan
Number
502694601 Foreclosure sale has been set for 12/2/03.
502701003 The Borrower has failed to comply with all requests for information and continues to make
only the principal and interest portions of the payment. Lender's legal counsel has
commenced the foreclosure process. Foreclosure expected to be filed no later th an the
week of November 10th. A receiver has been identified and a motion to appoint will be filed
with the foreclosure.
510000185 Fleming's Lease was rejected as of 9/30/03. Proof of claim filed. Moving forward with a
foreclosure while simultaneously trying to document a deed-in-lieu.
502713603 Payment default. Received Confession of Judgment. Forbearance agreement executed.
Lender section 8, HUD payments. Property under contract for sale.
265950586 Borrower is now selling the property. An assumption will be processed.
<fn>
(1) Resolution Strategy Code
1 - Modification 6 - DPO 10 - Deed in Lieu Of
2 - Foreclosure 7 - REO Foreclosure
3 - Bankruptcy 8 - Resolved 11 - Full Payoff
4 - Extension 9 - Pending Return 12 - Reps and Warranties
5 - Note Sale to Master Servicer 13 - Other or TBD
</fn>
Modified Loan Detail
No Modified Loans
Liquidated Loan Detail
No Liquidated Loans