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): November 25, 2003
ACE SECURITIES CORP.
Asset-Backed Pass-Through Certificates, Series 2003-FM1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-45458-08 54-2116960
Pooling and Servicing Agreement) (Commission 54-2116961
(State or other File Number) 54-2120395
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 November 25, 2003 a distribution was made to holders of ACE SECURITIES
CORP., Asset-Backed Pass-Through Certificates, Series 2003-FM1 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 Pass-Through Certificates,
Series 2003-FM1 Trust, relating to the
November 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.
ACE SECURITIES CORP.
Asset-Backed Pass-Through Certificates, Series 2003-FM1 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: 11/25/03
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset-Backed
Pass-Through Certificates, Series 2003-FM1 Trust,
relating to the November 25, 2003 distribution.
EX-99.1
ACE Securities Corporation
Asset-Backed Pass-Through Certificates
Record Date: 10/31/03
Distribution Date: 11/25/03
ACE Series: 2003-FM1
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 004421BN2 SEN 1.46000% 254,987,596.19 299,893.75 13,569,343.76
A-2 004421BP7 SEN 1.49000% 55,495,319.86 66,609.80 2,927,377.40
A-IO 004421BQ5 SEN 5.50000% 0.00 208,289.58 0.00
M-1 004421BR3 MEZ 1.98000% 27,267,000.00 43,490.86 0.00
M-2 004421BS1 MEZ 2.97000% 26,131,000.00 62,518.42 0.00
M-3 004421BT9 MEZ 3.25000% 4,544,000.00 11,896.44 0.00
M-4 004421BU6 MEZ 4.62000% 7,953,000.00 29,598.41 0.00
M-5 004421BV4 MEZ 4.62000% 9,089,000.00 33,826.23 0.00
M-6 004421BW2 MEZ 4.62000% 4,544,000.00 16,911.25 0.00
CE ACE03F1CE SUB 0.00000% 9,089,206.00 1,790,963.64 0.00
P ACE03FM1P SEN 0.00000% 100.00 476,786.50 0.00
R-III ACE03F1R1 SEN 0.00000% 0.00 0.00 0.00
Totals 399,100,222.05 3,040,784.88 16,496,721.16
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 241,418,252.43 13,869,237.51 0.00
A-2 0.00 52,567,942.46 2,993,987.20 0.00
A-IO 0.00 0.00 208,289.58 0.00
M-1 0.00 27,267,000.00 43,490.86 0.00
M-2 0.00 26,131,000.00 62,518.42 0.00
M-3 0.00 4,544,000.00 11,896.44 0.00
M-4 0.00 7,953,000.00 29,598.41 0.00
M-5 0.00 9,089,000.00 33,826.23 0.00
M-6 0.00 4,544,000.00 16,911.25 0.00
CE 0.00 9,089,206.00 1,790,963.64 0.00
P 0.00 100.00 476,786.50 0.00
R-III 0.00 0.00 0.00 0.00
Totals 0.00 382,603,500.89 19,537,506.04 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-1 298,374,000.00 254,987,596.19 0.00 13,569,343.76 0.00 0.00
A-2 67,458,000.00 55,495,319.86 0.00 2,927,377.40 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
M-1 27,267,000.00 27,267,000.00 0.00 0.00 0.00 0.00
M-2 26,131,000.00 26,131,000.00 0.00 0.00 0.00 0.00
M-3 4,544,000.00 4,544,000.00 0.00 0.00 0.00 0.00
M-4 7,953,000.00 7,953,000.00 0.00 0.00 0.00 0.00
M-5 9,089,000.00 9,089,000.00 0.00 0.00 0.00 0.00
M-6 4,544,000.00 4,544,000.00 0.00 0.00 0.00 0.00
CE 9,089,206.86 9,089,206.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00 0.00
Totals 454,449,306.86 399,100,222.05 0.00 16,496,721.16 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 13,569,343.76 241,418,252.43 0.80911290 13,569,343.76
A-2 2,927,377.40 52,567,942.46 0.77926921 2,927,377.40
A-IO 0.00 0.00 0.00000000 0.00
M-1 0.00 27,267,000.00 1.00000000 0.00
M-2 0.00 26,131,000.00 1.00000000 0.00
M-3 0.00 4,544,000.00 1.00000000 0.00
M-4 0.00 7,953,000.00 1.00000000 0.00
M-5 0.00 9,089,000.00 1.00000000 0.00
M-6 0.00 4,544,000.00 1.00000000 0.00
CE 0.00 9,089,206.00 0.99999991 0.00
P 0.00 100.00 1.00000000 0.00
R-III 0.00 0.00 0.00000000 0.00
Totals 16,496,721.16 382,603,500.89 0.84190579 16,496,721.16
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-1 298,374,000.00 854.59053466 0.00000000 45.47763465 0.00000000
A-2 67,458,000.00 822.66476711 0.00000000 43.39555575 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M-1 27,267,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 26,131,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 4,544,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 7,953,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 9,089,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 4,544,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 9,089,206.86 999.99990538 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
R-III 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 45.47763465 809.11290002 0.80911290 45.47763465
A-2 0.00000000 43.39555575 779.26921136 0.77926921 43.39555575
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 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
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 0.00000000 999.99990538 0.99999991 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 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-1 298,374,000.00 1.46000% 254,987,596.19 299,893.75 0.00 0.00
A-2 67,458,000.00 1.49000% 55,495,319.86 66,609.80 0.00 0.00
A-IO 0.00 5.50000% 45,445,000.00 208,289.58 0.00 0.00
M-1 27,267,000.00 1.98000% 27,267,000.00 43,490.86 0.00 0.00
M-2 26,131,000.00 2.97000% 26,131,000.00 62,518.42 0.00 0.00
M-3 4,544,000.00 3.25000% 4,544,000.00 11,896.44 0.00 0.00
M-4 7,953,000.00 4.62000% 7,953,000.00 29,598.41 0.00 0.00
M-5 9,089,000.00 4.62000% 9,089,000.00 33,826.23 0.00 0.00
M-6 4,544,000.00 4.62000% 4,544,000.00 16,911.25 0.00 0.00
CE 9,089,206.86 0.00000% 9,089,206.00 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
R-III 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 454,449,306.86 773,034.74 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 0.00 299,893.75 0.00 241,418,252.43
A-2 0.00 0.00 66,609.80 0.00 52,567,942.46
A-IO 0.00 0.00 208,289.58 0.00 45,445,000.00
M-1 0.00 0.00 43,490.86 0.00 27,267,000.00
M-2 0.00 0.00 62,518.42 0.00 26,131,000.00
M-3 0.00 0.00 11,896.44 0.00 4,544,000.00
M-4 0.00 0.00 29,598.41 0.00 7,953,000.00
M-5 0.00 0.00 33,826.23 0.00 9,089,000.00
M-6 0.00 0.00 16,911.25 0.00 4,544,000.00
CE 0.00 0.00 1,790,963.64 0.00 9,089,206.00
P 0.00 0.00 476,786.50 0.00 100.00
R-III 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 3,040,784.88 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-1 298,374,000.00 1.46000% 854.59053466 1.00509344 0.00000000 0.00000000
A-2 67,458,000.00 1.49000% 822.66476711 0.98742625 0.00000000 0.00000000
A-IO 0.00 5.50000% 1000.00000000 4.58333326 0.00000000 0.00000000
M-1 27,267,000.00 1.98000% 1000.00000000 1.59499982 0.00000000 0.00000000
M-2 26,131,000.00 2.97000% 1000.00000000 2.39250010 0.00000000 0.00000000
M-3 4,544,000.00 3.25000% 1000.00000000 2.61805458 0.00000000 0.00000000
M-4 7,953,000.00 4.62000% 1000.00000000 3.72166604 0.00000000 0.00000000
M-5 9,089,000.00 4.62000% 1000.00000000 3.72166685 0.00000000 0.00000000
M-6 4,544,000.00 4.62000% 1000.00000000 3.72166593 0.00000000 0.00000000
CE 9,089,206.86 0.00000% 999.99990538 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R-III 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 1.00509344 0.00000000 809.11290002
A-2 0.00000000 0.00000000 0.98742625 0.00000000 779.26921136
A-IO 0.00000000 0.00000000 4.58333326 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 1.59499982 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.39250010 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 2.61805458 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.72166604 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 3.72166685 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 3.72166593 0.00000000 1000.00000000
CE 0.00000000 0.00000000 197.04289578 0.00000000 999.99990538
P 0.00000000 0.00000000 4767865.00000000 0.00000000 1000.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<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 Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance Percentage
<s> <c> <c> <c> <c> <c> <c>
A-IO1 5.50000% 37,065,000.00 37,065,000.00 0.00 0.00 100.00000000%
A-IO2 5.50000% 8,380,000.00 8,380,000.00 0.00 0.00 100.00000000%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 19,241,697.23
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 238,867.00
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 476,786.50
Total Deposits 19,957,350.73
Withdrawals
Reimbursement for Servicer Advances 246,069.80
Payment of Service Fee 173,774.89
Payment of Interest and Principal 19,537,506.04
Total Withdrawals (Pool Distribution Amount) 19,957,350.73
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 166,291.75
Master Servicing Fee - Wells Fargo 7,483.14
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 173,774.89
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 105 0 0 0 105
11,911,451.11 0.00 0.00 0.00 11,911,451.11
60 Days 55 0 0 0 55
6,418,728.24 0.00 0.00 0.00 6,418,728.24
90 Days 28 0 0 0 28
3,744,453.31 0.00 0.00 0.00 3,744,453.31
120 Days 26 0 0 0 26
2,919,387.06 0.00 0.00 0.00 2,919,387.06
150 Days 11 3 9 0 23
382,129.60 181,711.72 1,421,506.30 0.00 1,985,347.62
180+ Days 10 3 17 0 30
645,232.36 367,795.35 2,089,289.56 0.00 3,102,317.27
Totals 235 6 26 0 267
26,021,381.68 549,507.07 3,510,795.86 0.00 30,081,684.61
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 3.266957% 0.000000% 0.000000% 0.000000% 3.266957%
3.109957% 0.000000% 0.000000% 0.000000% 3.109957%
60 Days 1.711263% 0.000000% 0.000000% 0.000000% 1.711263%
1.675864% 0.000000% 0.000000% 0.000000% 1.675864%
90 Days 0.871189% 0.000000% 0.000000% 0.000000% 0.871189%
0.977638% 0.000000% 0.000000% 0.000000% 0.977638%
120 Days 0.808961% 0.000000% 0.000000% 0.000000% 0.808961%
0.762222% 0.000000% 0.000000% 0.000000% 0.762222%
150 Days 0.342253% 0.093342% 0.280025% 0.000000% 0.715619%
0.099770% 0.047443% 0.371141% 0.000000% 0.518354%
180+ Days 0.311139% 0.093342% 0.528936% 0.000000% 0.933416%
0.168464% 0.096028% 0.545492% 0.000000% 0.809983%
Totals 7.311761% 0.186683% 0.808961% 0.000000% 8.307405%
6.793914% 0.143471% 0.916633% 0.000000% 7.854017%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 97 0 0 0 97
10,931,191.52 0.00 0.00 0.00 10,931,191.52
60 Days 51 0 0 0 51
5,846,496.75 0.00 0.00 0.00 5,846,496.75
90 Days 24 0 0 0 24
2,854,888.47 0.00 0.00 0.00 2,854,888.47
120 Days 24 0 0 0 24
2,469,854.43 0.00 0.00 0.00 2,469,854.43
150 Days 10 3 7 0 20
322,559.47 181,711.72 993,122.24 0.00 1,497,393.43
180 Days 8 3 17 0 28
567,107.10 367,795.35 2,089,289.56 0.00 3,024,192.01
Totals 214 6 24 0 244
22,992,097.74 549,507.07 3,082,411.80 0.00 26,624,016.61
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 3.348291% 0.000000% 0.000000% 0.000000% 3.348291%
3.480882% 0.000000% 0.000000% 0.000000% 3.480882%
60 Days 1.760442% 0.000000% 0.000000% 0.000000% 1.760442%
1.861733% 0.000000% 0.000000% 0.000000% 1.861733%
90 Days 0.828443% 0.000000% 0.000000% 0.000000% 0.828443%
0.909098% 0.000000% 0.000000% 0.000000% 0.909098%
120 Days 0.828443% 0.000000% 0.000000% 0.000000% 0.828443%
0.786490% 0.000000% 0.000000% 0.000000% 0.786490%
150 Days 0.345185% 0.103555% 0.241629% 0.000000% 0.690369%
0.102714% 0.057863% 0.316246% 0.000000% 0.476824%
180 Days 0.276148% 0.103555% 0.586814% 0.000000% 0.966517%
0.180587% 0.117119% 0.665304% 0.000000% 0.963011%
Totals 7.386952% 0.207111% 0.828443% 0.000000% 8.422506%
7.321505% 0.174983% 0.981550% 0.000000% 8.478037%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 8 0 0 0 8
980,259.59 0.00 0.00 0.00 980,259.59
60 Days 4 0 0 0 4
572,231.49 0.00 0.00 0.00 572,231.49
90 Days 4 0 0 0 4
889,564.84 0.00 0.00 0.00 889,564.84
120 Days 2 0 0 0 2
449,532.63 0.00 0.00 0.00 449,532.63
150 Days 1 0 2 0 3
59,570.13 0.00 428,384.06 0.00 487,954.19
180 Days 2 0 0 0 2
78,125.26 0.00 0.00 0.00 78,125.26
Totals 21 0 2 0 23
3,029,283.94 0.00 428,384.06 0.00 3,457,668.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.523659% 0.000000% 0.000000% 0.000000% 2.523659%
1.421181% 0.000000% 0.000000% 0.000000% 1.421181%
60 Days 1.261830% 0.000000% 0.000000% 0.000000% 1.261830%
0.829621% 0.000000% 0.000000% 0.000000% 0.829621%
90 Days 1.261830% 0.000000% 0.000000% 0.000000% 1.261830%
1.289691% 0.000000% 0.000000% 0.000000% 1.289691%
120 Days 0.630915% 0.000000% 0.000000% 0.000000% 0.630915%
0.651732% 0.000000% 0.000000% 0.000000% 0.651732%
150 Days 0.315457% 0.000000% 0.630915% 0.000000% 0.946372%
0.086365% 0.000000% 0.621071% 0.000000% 0.707436%
180 Days 0.630915% 0.000000% 0.000000% 0.000000% 0.630915%
0.113266% 0.000000% 0.000000% 0.000000% 0.113266%
Totals 6.624606% 0.000000% 0.630915% 0.000000% 7.255521%
4.391856% 0.000000% 0.621071% 0.000000% 5.012928%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 238,867.00
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 8.231837%
Weighted Average Net Coupon 7.731838%
Weighted Average Pass-Through Rate 7.709338%
Weighted Average Maturity(Stepdown Calculation ) 334
Beginning Scheduled Collateral Loan Count 3,346
Number Of Loans Paid In Full 132
Ending Scheduled Collateral Loan Count 3,214
Beginning Scheduled Collateral Balance 399,100,222.05
Ending Scheduled Collateral Balance 382,603,500.89
Ending Actual Collateral Balance at 31-Oct-2003 383,010,164.10
Monthly P &I Constant 3,101,427.65
Special Servicing Fee 0.00
Prepayment Penalties 476,786.50
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 382,603,500.89
Scheduled Principal 363,307.12
Unscheduled Principal 16,133,414.04
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 9,089,206.00
Overcollateralized Amount 9,089,206.00
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed ARM
Weighted Average Coupon Rate 8.231837%
Weighted Average Net Rate 7.731838%
Weighted Average Pass Through Rate 7.709338%
Weighted Average Maturity 334
Record Date 10/31/2003
Principal and Interest Constant 3,101,427.65
Beginning Loan Count 3,346
Loans Paid in Full 132
Ending Loan Count 3,214
Beginning Scheduled Balance 399,100,222.05
Ending Scheduled Balance 382,603,500.89
Ending Actual Balance at 31-Oct-2003 383,010,164.10
Scheduled Principal 363,307.12
Unscheduled Principal 16,133,414.04
Scheduled Interest 2,737,773.27
Servicing Fee 166,291.75
Master Servicing Fee 7,483.14
Trustee Fee 0.00
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 0.00
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 2,564,345.64
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Special Servicing Fee 0.00
Prepayment Penalties 476,786.50
Required Overcollateralized Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized Reduction Amount 0.00
Specified O/C Amount 9,089,206.00
Overcollateralized Amount 9,089,206.00
Overcollateralized Deficiency Amount 0.00
Base Overcollateralization Amount 0.00
Miscellaneous Reporting
Required Overcollateralization Amount: 9,089,206.00
Overcollateralization Increase Amount: 0.00
Overcollateralization Reduction Amount: 0.00
Credit Enhancement Percentage: 23.1616%
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed & Mixed ARM
Weighted Average Coupon Rate 8.341013 7.743446 8.231837
Weighted Average Net Rate 7.841014 7.234462 7.731838
Weighted Average Maturity 331 336 334
Beginning Loan Count 3,014 332 3,346
Loans Paid In Full 117 15 132
Ending Loan Count 2,897 317 3,214
Beginning Scheduled Balance 327,264,174.21 71,836,047.84 399,100,222.05
Ending scheduled Balance 313,694,830.45 68,908,670.44 382,603,500.89
Record Date 10/31/2003 10/31/2003 10/31/2003
Principal And Interest Constant 2,571,284.27 530,143.38 3,101,427.65
Scheduled Principal 296,521.94 66,785.18 363,307.12
Unscheduled Principal 13,272,821.82 2,860,592.22 16,133,414.04
Scheduled Interest 2,274,762.33 463,010.94 2,737,773.27
Servicing Fees 136,360.06 29,931.69 166,291.75
Master Servicing Fees 6,136.20 1,346.94 7,483.14
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 2,132,266.07 432,079.57 2,564,345.64
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 7.818514 7.211962 7.709338