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
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 November 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
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.
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 as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 12/2/03
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
November 25, 2003 distribution.
EX-99.1
First Franklin Mortgage Loan Trust
Asset Backed Certificates
Record Date: 10/31/03
Distribution Date: 11/25/03
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% 368,834,608.09 686,647.10 8,974,018.48
A-2 32027NBY6 SEN 2.26500% 122,611,449.19 231,429.11 1,731,863.34
M-1 32027NBZ3 MEZ 2.68800% 27,140,000.00 60,793.60 0.00
M-2 32027NCA7 MEZ 2.87000% 25,633,000.00 59,262.07 0.00
M-3F 32027NCB5 MEZ 5.59200% 8,500,000.00 39,610.00 0.00
M-3V 32027NCC3 MEZ 3.62000% 5,070,000.00 14,784.68 0.00
M-4 32027NCD1 MEZ 4.12000% 3,920,000.00 13,010.04 0.00
R-1 FFM3FF1R1 SEN 0.00000% 0.00 0.00 0.00
C FFM03FF1C SEN 0.00000% 5,126,520.77 1,942,315.66 0.00
P FFM03FF1P SEN 0.00000% 100.00 316,366.45 0.00
DIV_CERT SEN 0.00000% 0.01 1,383.41 0.00
Totals 566,835,678.06 3,365,602.12 10,705,881.82
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 359,860,589.61 9,660,665.58 0.00
A-2 0.00 120,879,585.85 1,963,292.45 0.00
M-1 0.00 27,140,000.00 60,793.60 0.00
M-2 0.00 25,633,000.00 59,262.07 0.00
M-3F 0.00 8,500,000.00 39,610.00 0.00
M-3V 0.00 5,070,000.00 14,784.68 0.00
M-4 0.00 3,920,000.00 13,010.04 0.00
R-1 0.00 0.00 0.00 0.00
C 0.00 5,126,520.77 1,942,315.66 0.00
P 0.00 100.00 316,366.45 0.00
DIV_CERT 0.00 0.01 1,383.41 0.00
Totals 0.00 556,129,796.24 14,071,483.94 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-1 394,105,000.00 368,834,608.09 0.00 8,974,018.48 0.00 0.00
A-2 133,626,000.00 122,611,449.19 0.00 1,731,863.34 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 0.01 0.00 0.00 0.00 0.00
Totals 603,120,091.09 566,835,678.06 0.00 10,705,881.82 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 8,974,018.48 359,860,589.61 0.91310841 8,974,018.48
A-2 1,731,863.34 120,879,585.85 0.90461127 1,731,863.34
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 0.01 0.00000000 0.00
Totals 10,705,881.82 556,129,796.24 0.92208800 10,705,881.82
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-1 394,105,000.00 935.87903754 0.00000000 22.77062834 0.00000000
A-2 133,626,000.00 917.57179883 0.00000000 12.96052669 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 22.77062834 913.10840921 0.91310841 22.77062834
A-2 0.00000000 12.96052669 904.61127213 0.90461127 12.96052669
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, 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-1 394,105,000.00 2.23400% 368,834,608.09 686,647.10 0.00 0.00
A-2 133,626,000.00 2.26500% 122,611,449.19 231,429.11 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 2.87000% 25,633,000.00 59,262.07 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 3.62000% 5,070,000.00 14,784.68 0.00 0.00
M-4 3,920,000.00 4.12000% 3,920,000.00 13,010.04 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% 0.01 0.00 0.00 0.00
Totals 603,120,091.09 1,105,536.60 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 0.00 686,647.10 0.00 359,860,589.61
A-2 0.00 0.00 231,429.11 0.00 120,879,585.85
M-1 0.00 0.00 60,793.60 0.00 27,140,000.00
M-2 0.00 0.00 59,262.07 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 14,784.68 0.00 5,070,000.00
M-4 0.00 0.00 13,010.04 0.00 3,920,000.00
R-1 0.00 0.00 0.00 0.00 0.00
C 0.00 0.00 1,942,315.66 0.00 5,126,520.77
P 0.00 0.00 316,366.45 0.00 100.00
DIV_CERT 0.00 0.00 1,383.41 0.00 0.01
Totals 0.00 0.00 3,365,602.12 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-1 394,105,000.00 2.23400% 935.87903754 1.74229482 0.00000000 0.00000000
A-2 133,626,000.00 2.26500% 917.57179883 1.73191677 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 2.87000% 1000.00000000 2.31194437 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 3.62000% 1000.00000000 2.91611045 0.00000000 0.00000000
M-4 3,920,000.00 4.12000% 1000.00000000 3.31888776 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 1.74229482 0.00000000 913.10840921
A-2 0.00000000 0.00000000 1.73191677 0.00000000 904.61127213
M-1 0.00000000 0.00000000 2.24000000 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.31194437 0.00000000 1000.00000000
M-3F 0.00000000 0.00000000 4.66000000 0.00000000 1000.00000000
M-3V 0.00000000 0.00000000 2.91611045 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.31888776 0.00000000 1000.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 378.91514556 0.00000000 1000.10333221
P 0.00000000 0.00000000 3163664.50000000 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, 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 14,003,934.71
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 316,366.45
Total Deposits 14,320,301.16
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 248,817.22
Payment of Interest and Principal 14,071,483.94
Total Withdrawals (Pool Distribution Amount) 14,320,301.16
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 236,181.52
Back-up Master Servicing Fee 9,447.25
Wells Fargo 3,188.45
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 248,817.22
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 48 0 0 0 48
6,746,364.03 0.00 0.00 0.00 6,746,364.03
60 Days 15 0 0 0 15
2,811,615.93 0.00 0.00 0.00 2,811,615.93
90 Days 18 0 0 0 18
1,781,035.53 0.00 0.00 0.00 1,781,035.53
120 Days 14 0 0 0 14
1,972,486.86 0.00 0.00 0.00 1,972,486.86
150 Days 21 0 0 0 21
3,461,214.83 0.00 0.00 0.00 3,461,214.83
180+ Days 5 0 0 0 5
535,613.78 0.00 0.00 0.00 535,613.78
Totals 121 0 0 0 121
17,308,330.96 0.00 0.00 0.00 17,308,330.96
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 1.452785% 0.000000% 0.000000% 0.000000% 1.452785%
1.213095% 0.000000% 0.000000% 0.000000% 1.213095%
60 Days 0.453995% 0.000000% 0.000000% 0.000000% 0.453995%
0.505570% 0.000000% 0.000000% 0.000000% 0.505570%
90 Days 0.544794% 0.000000% 0.000000% 0.000000% 0.544794%
0.320256% 0.000000% 0.000000% 0.000000% 0.320256%
120 Days 0.423729% 0.000000% 0.000000% 0.000000% 0.423729%
0.354682% 0.000000% 0.000000% 0.000000% 0.354682%
150 Days 0.635593% 0.000000% 0.000000% 0.000000% 0.635593%
0.622377% 0.000000% 0.000000% 0.000000% 0.622377%
180+ Days 0.151332% 0.000000% 0.000000% 0.000000% 0.151332%
0.096311% 0.000000% 0.000000% 0.000000% 0.096311%
Totals 3.662228% 0.000000% 0.000000% 0.000000% 3.662228%
3.112290% 0.000000% 0.000000% 0.000000% 3.112290%
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 8 0 0 0 8
705,725.63 0.00 0.00 0.00 705,725.63
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 4 0 0 0 4
387,269.47 0.00 0.00 0.00 387,269.47
120 Days 1 0 0 0 1
110,973.79 0.00 0.00 0.00 110,973.79
150 Days 3 0 0 0 3
130,253.87 0.00 0.00 0.00 130,253.87
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 16 0 0 0 16
1,334,222.76 0.00 0.00 0.00 1,334,222.76
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.379310% 0.000000% 0.000000% 0.000000% 1.379310%
1.042595% 0.000000% 0.000000% 0.000000% 1.042595%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.689655% 0.000000% 0.000000% 0.000000% 0.689655%
0.572128% 0.000000% 0.000000% 0.000000% 0.572128%
120 Days 0.172414% 0.000000% 0.000000% 0.000000% 0.172414%
0.163946% 0.000000% 0.000000% 0.000000% 0.163946%
150 Days 0.517241% 0.000000% 0.000000% 0.000000% 0.517241%
0.192429% 0.000000% 0.000000% 0.000000% 0.192429%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.758621% 0.000000% 0.000000% 0.000000% 2.758621%
1.971098% 0.000000% 0.000000% 0.000000% 1.971098%
<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 39 0 0 0 39
5,325,638.40 0.00 0.00 0.00 5,325,638.40
60 Days 12 0 0 0 12
1,550,751.41 0.00 0.00 0.00 1,550,751.41
90 Days 14 0 0 0 14
1,393,766.06 0.00 0.00 0.00 1,393,766.06
120 Days 12 0 0 0 12
1,537,355.83 0.00 0.00 0.00 1,537,355.83
150 Days 15 0 0 0 15
1,783,791.87 0.00 0.00 0.00 1,783,791.87
180 Days 5 0 0 0 5
535,613.78 0.00 0.00 0.00 535,613.78
Totals 97 0 0 0 97
12,126,917.35 0.00 0.00 0.00 12,126,917.35
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.617586% 0.000000% 0.000000% 0.000000% 1.617586%
1.528290% 0.000000% 0.000000% 0.000000% 1.528290%
60 Days 0.497719% 0.000000% 0.000000% 0.000000% 0.497719%
0.445017% 0.000000% 0.000000% 0.000000% 0.445017%
90 Days 0.580672% 0.000000% 0.000000% 0.000000% 0.580672%
0.399967% 0.000000% 0.000000% 0.000000% 0.399967%
120 Days 0.497719% 0.000000% 0.000000% 0.000000% 0.497719%
0.441172% 0.000000% 0.000000% 0.000000% 0.441172%
150 Days 0.622148% 0.000000% 0.000000% 0.000000% 0.622148%
0.511892% 0.000000% 0.000000% 0.000000% 0.511892%
180 Days 0.207383% 0.000000% 0.000000% 0.000000% 0.207383%
0.153704% 0.000000% 0.000000% 0.000000% 0.153704%
Totals 4.023227% 0.000000% 0.000000% 0.000000% 4.023227%
3.480041% 0.000000% 0.000000% 0.000000% 3.480041%
<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 1 0 0 0 1
715,000.00 0.00 0.00 0.00 715,000.00
60 Days 3 0 0 0 3
1,260,864.52 0.00 0.00 0.00 1,260,864.52
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 1 0 0 0 1
324,157.24 0.00 0.00 0.00 324,157.24
150 Days 3 0 0 0 3
1,547,169.09 0.00 0.00 0.00 1,547,169.09
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 8 0 0 0 8
3,847,190.85 0.00 0.00 0.00 3,847,190.85
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.369004% 0.000000% 0.000000% 0.000000% 0.369004%
0.593341% 0.000000% 0.000000% 0.000000% 0.593341%
60 Days 1.107011% 0.000000% 0.000000% 0.000000% 1.107011%
1.046326% 0.000000% 0.000000% 0.000000% 1.046326%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.369004% 0.000000% 0.000000% 0.000000% 0.369004%
0.269001% 0.000000% 0.000000% 0.000000% 0.269001%
150 Days 1.107011% 0.000000% 0.000000% 0.000000% 1.107011%
1.283915% 0.000000% 0.000000% 0.000000% 1.283915%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.952030% 0.000000% 0.000000% 0.000000% 2.952030%
3.192584% 0.000000% 0.000000% 0.000000% 3.192584%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 111,728.90
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 6.993019%
Weighted Average Net Coupon 6.493019%
Weighted Average Pass-Through Rate 6.466269%
Weighted Average Maturity(Stepdown Calculation ) 349
Beginning Scheduled Collateral Loan Count 3,361
Number Of Loans Paid In Full 57
Ending Scheduled Collateral Loan Count 3,304
Beginning Scheduled Collateral Balance 566,835,678.05
Ending Scheduled Collateral Balance 556,129,796.23
Ending Actual Collateral Balance at 31-Oct-2003 556,128,400.04
Monthly P &I Constant 3,624,655.55
Special Servicing Fee 0.00
Prepayment Penalties 316,366.45
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 556,129,796.23
Scheduled Principal 321,411.74
Unscheduled Principal 10,384,470.08
Miscellaneous Reporting
Credit Enhancement 13.300066%
Stepdown Date in Effect Do Not Stepdown
Trigger Event Not Triggered
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 1,942,315.66
Soldier/Sailor Interest Shortfall 0.00
Group Level Collateral Statement
Group Group 1 Group 2 Group 3
Collateral Description Mixed Fixed Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 7.526559 7.042508 7.010074
Weighted Average Net Rate 7.026559 6.542508 6.510074
Weighted Average Maturity 349 349 350
Beginning Loan Count 589 2,455 43
Loans Paid In Full 9 44 1
Ending Loan Count 580 2,411 42
Beginning Scheduled Balance 68,961,060.92 356,173,871.28 19,826,727.22
Ending scheduled Balance 67,690,084.87 348,470,828.85 19,464,587.31
Record Date 10/31/2003 10/31/2003 10/31/2003
Principal And Interest Constant 497,461.77 2,278,917.95 135,354.09
Scheduled Principal 64,928.88 188,620.11 19,531.74
Unscheduled Principal 1,206,047.17 7,514,422.32 342,608.17
Scheduled Interest 432,532.89 2,090,297.84 115,822.35
Servicing Fees 28,733.75 148,405.79 8,261.14
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 387.89 2,003.51 111.53
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 1,149.36 5,936.21 330.45
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 402,261.89 1,933,952.33 107,119.23
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 6.999809 6.515758 6.483324
Group Level Collateral Statement
Group Group 4 Total
Collateral Description Mixed ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 6.543715 6.993019
Weighted Average Net Rate 6.043715 6.493019
Weighted Average Maturity 350 349
Beginning Loan Count 274 3,361
Loans Paid In Full 3 57
Ending Loan Count 271 3,304
Beginning Scheduled Balance 121,874,018.63 566,835,678.05
Ending scheduled Balance 120,504,295.20 556,129,796.23
Record Date 10/31/2003 10/31/2003
Principal And Interest Constant 712,921.74 3,624,655.55
Scheduled Principal 48,331.01 321,411.74
Unscheduled Principal 1,321,392.42 10,384,470.08
Scheduled Interest 664,590.73 3,303,243.81
Servicing Fees 50,780.84 236,181.52
Master Servicing Fees 0.00 0.00
Trustee Fee 685.52 3,188.45
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 2,031.23 9,447.25
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 611,093.14 3,054,426.59
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 6.016965 6.466269