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-FFC Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-104153-04 54-2116909
Pooling and Servicing Agreement) (Commission 54-2116910
(State or other File Number) 54-2116911
jurisdiction 54-2116944
of Incorporation) 54-2116945
54-6553616
IRS EIN
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-FFC 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-FFC 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-FFC 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: 12/3/03
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Certificates, Series 2003-FFC 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-FFC
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>
S 32027NCT6 SEN 6.00000% 0.00 195,650.00 0.00
A-1 32027NCM1 SEN 1.50000% 74,143,228.80 89,589.73 4,307,590.00
A-2 32027NCN9 SEN 1.50000% 59,896,200.50 72,374.58 4,523,064.84
M-1 32027NCP4 MEZ 1.92000% 21,522,000.00 33,287.36 0.00
M-2 32027NCQ2 MEZ 2.97000% 9,783,000.00 23,405.83 0.00
M-3 32027NCR0 MEZ 4.22000% 5,380,000.00 18,289.01 0.00
M-4 32027NCS8 MEZ 5.12000% 2,446,000.00 10,088.39 0.00
R FFM3FFCR1 SEN 0.00000% 0.00 0.00 0.00
C FFM03FFCC SEN 0.00000% 489,131.32 831,411.02 0.00
X FFM03FFCX SEN 0.00000% 0.00 0.00 0.00
P FFM03FFCP SEN 0.00000% 100.00 294,511.45 0.00
Totals 173,659,660.62 1,568,607.37 8,830,654.84
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
S 0.00 0.00 195,650.00 0.00
A-1 0.00 69,835,638.80 4,397,179.73 0.00
A-2 0.00 55,373,135.66 4,595,439.42 0.00
M-1 0.00 21,522,000.00 33,287.36 0.00
M-2 0.00 9,783,000.00 23,405.83 0.00
M-3 0.00 5,380,000.00 18,289.01 0.00
M-4 0.00 2,446,000.00 10,088.39 0.00
R 0.00 0.00 0.00 0.00
C 0.00 489,131.32 831,411.02 0.00
X 0.00 0.00 0.00 0.00
P 0.00 100.00 294,511.45 0.00
Totals 0.00 164,829,005.78 10,399,262.21 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>
S 0.00 0.00 0.00 0.00 0.00 0.00
A-1 85,376,000.00 74,143,228.80 0.00 4,307,590.00 0.00 0.00
A-2 70,656,000.00 59,896,200.50 0.00 4,523,064.84 0.00 0.00
M-1 21,522,000.00 21,522,000.00 0.00 0.00 0.00 0.00
M-2 9,783,000.00 9,783,000.00 0.00 0.00 0.00 0.00
M-3 5,380,000.00 5,380,000.00 0.00 0.00 0.00 0.00
M-4 2,446,000.00 2,446,000.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
C 489,429.02 489,131.32 0.00 0.00 0.00 0.00
X 0.00 0.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
Totals 195,652,529.02 173,659,660.62 0.00 8,830,654.84 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>
S 0.00 0.00 0.00000000 0.00
A-1 4,307,590.00 69,835,638.80 0.81797740 4,307,590.00
A-2 4,523,064.84 55,373,135.66 0.78370040 4,523,064.84
M-1 0.00 21,522,000.00 1.00000000 0.00
M-2 0.00 9,783,000.00 1.00000000 0.00
M-3 0.00 5,380,000.00 1.00000000 0.00
M-4 0.00 2,446,000.00 1.00000000 0.00
R 0.00 0.00 0.00000000 0.00
C 0.00 489,131.32 0.99939174 0.00
X 0.00 0.00 0.00000000 0.00
P 0.00 100.00 1.00000000 0.00
Totals 8,830,654.84 164,829,005.78 0.84245783 8,830,654.84
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>
S 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-1 85,376,000.00 868.43174663 0.00000000 50.45434314 0.00000000
A-2 70,656,000.00 847.71570001 0.00000000 64.01529721 0.00000000
M-1 21,522,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 9,783,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 5,380,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 2,446,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
C 489,429.02 999.39174020 0.00000000 0.00000000 0.00000000
X 0.00 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 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>
S 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-1 0.00000000 50.45434314 817.97740349 0.81797740 50.45434314
A-2 0.00000000 64.01529721 783.70040280 0.78370040 64.01529721
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
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 999.39174020 0.99939174 0.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 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>
S 0.00 6.00000% 39,130,000.00 195,650.00 0.00 0.00
A-1 85,376,000.00 1.50000% 74,143,228.80 89,589.73 0.00 0.00
A-2 70,656,000.00 1.50000% 59,896,200.50 72,374.58 0.00 0.00
M-1 21,522,000.00 1.92000% 21,522,000.00 33,287.36 0.00 0.00
M-2 9,783,000.00 2.97000% 9,783,000.00 23,405.83 0.00 0.00
M-3 5,380,000.00 4.22000% 5,380,000.00 18,289.01 0.00 0.00
M-4 2,446,000.00 5.12000% 2,446,000.00 10,088.39 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
C 489,429.02 0.00000% 489,131.32 0.00 0.00 0.00
X 0.00 0.00000% 0.00 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
Totals 195,652,529.02 442,684.90 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>
S 0.00 0.00 195,650.00 0.00 39,130,000.00
A-1 0.00 0.00 89,589.73 0.00 69,835,638.80
A-2 0.00 0.00 72,374.58 0.00 55,373,135.66
M-1 0.00 0.00 33,287.36 0.00 21,522,000.00
M-2 0.00 0.00 23,405.83 0.00 9,783,000.00
M-3 0.00 0.00 18,289.01 0.00 5,380,000.00
M-4 0.00 0.00 10,088.39 0.00 2,446,000.00
R 0.00 0.00 0.00 0.00 0.00
C 0.00 0.00 831,411.02 0.00 489,131.32
X 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 294,511.45 0.00 100.00
Totals 0.00 0.00 1,568,607.37 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>
S 0.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000
A-1 85,376,000.00 1.50000% 868.43174663 1.04935497 0.00000000 0.00000000
A-2 70,656,000.00 1.50000% 847.71570001 1.02432320 0.00000000 0.00000000
M-1 21,522,000.00 1.92000% 1000.00000000 1.54666667 0.00000000 0.00000000
M-2 9,783,000.00 2.97000% 1000.00000000 2.39250026 0.00000000 0.00000000
M-3 5,380,000.00 4.22000% 1000.00000000 3.39944424 0.00000000 0.00000000
M-4 2,446,000.00 5.12000% 1000.00000000 4.12444399 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
C 489,429.02 0.00000% 999.39174020 0.00000000 0.00000000 0.00000000
X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are per $1,000.
</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>
S 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000
A-1 0.00000000 0.00000000 1.04935497 0.00000000 817.97740349
A-2 0.00000000 0.00000000 1.02432320 0.00000000 783.70040280
M-1 0.00000000 0.00000000 1.54666667 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.39250026 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 3.39944424 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 4.12444399 0.00000000 1000.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 1698.73666257 0.00000000 999.39174020
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 2945114.50000000 0.00000000 1000.00000000
<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 10,444,781.62
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 294,511.45
Total Deposits 10,739,293.07
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 340,030.86
Payment of Interest and Principal 10,399,262.21
Total Withdrawals (Pool Distribution Amount) 10,739,293.07
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 72,358.23
Pool Insurance Fee 264,778.29
Trustee Fee 2,894.34
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 340,030.86
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 11 0 0 11
380,112.67 0.00 0.00 380,112.67
30 Days 67 1 1 0 69
2,154,060.59 36,915.91 34,896.07 0.00 2,225,872.57
60 Days 28 1 0 0 29
684,534.44 16,703.23 0.00 0.00 701,237.67
90 Days 55 9 5 0 69
2,024,362.83 271,292.93 181,345.98 0.00 2,477,001.74
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 150 22 6 0 178
4,862,957.86 705,024.74 216,242.05 0.00 5,784,224.65
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 0.261097% 0.000000% 0.000000% 0.261097%
0.230610% 0.000000% 0.000000% 0.230610%
30 Days 1.590316% 0.023736% 0.023736% 0.000000% 1.637788%
1.306846% 0.022396% 0.021171% 0.000000% 1.350413%
60 Days 0.664610% 0.023736% 0.000000% 0.000000% 0.688346%
0.415300% 0.010134% 0.000000% 0.000000% 0.425433%
90 Days 1.305483% 0.213624% 0.118680% 0.000000% 1.637788%
1.228159% 0.164591% 0.110021% 0.000000% 1.502771%
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 3.560408% 0.522193% 0.142416% 0.000000% 4.225018%
2.950305% 0.427731% 0.131192% 0.000000% 3.509227%
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 8 0 0 8
229,018.86 0.00 0.00 229,018.86
30 Days 49 1 0 0 50
1,429,512.10 36,915.91 0.00 0.00 1,466,428.01
60 Days 19 1 0 0 20
415,898.23 16,703.23 0.00 0.00 432,601.46
90 Days 42 6 4 0 52
1,200,418.48 182,119.37 143,441.17 0.00 1,525,979.02
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 110 16 4 0 130
3,045,828.81 464,757.37 143,441.17 0.00 3,654,027.35
0-29 Days 0.278261% 0.000000% 0.000000% 0.278261%
0.250173% 0.000000% 0.000000% 0.250173%
30 Days 1.704348% 0.034783% 0.000000% 0.000000% 1.739130%
1.561557% 0.040326% 0.000000% 0.000000% 1.601883%
60 Days 0.660870% 0.034783% 0.000000% 0.000000% 0.695652%
0.454315% 0.018246% 0.000000% 0.000000% 0.472561%
90 Days 1.460870% 0.208696% 0.139130% 0.000000% 1.808696%
1.311302% 0.198942% 0.156691% 0.000000% 1.666934%
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 3.826087% 0.556522% 0.139130% 0.000000% 4.521739%
3.327173% 0.507687% 0.156691% 0.000000% 3.991551%
<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 3 0 0 3
151,093.81 0.00 0.00 151,093.81
30 Days 18 0 1 0 19
724,548.49 0.00 34,896.07 0.00 759,444.56
60 Days 9 0 0 0 9
268,636.21 0.00 0.00 0.00 268,636.21
90 Days 13 3 1 0 17
823,944.35 89,173.56 37,904.81 0.00 951,022.72
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 40 6 2 0 48
1,817,129.05 240,267.37 72,800.88 0.00 2,130,197.30
0-29 Days 0.224215% 0.000000% 0.000000% 0.224215%
0.206173% 0.000000% 0.000000% 0.206173%
30 Days 1.345291% 0.000000% 0.074738% 0.000000% 1.420030%
0.988673% 0.000000% 0.047617% 0.000000% 1.036290%
60 Days 0.672646% 0.000000% 0.000000% 0.000000% 0.672646%
0.366564% 0.000000% 0.000000% 0.000000% 0.366564%
90 Days 0.971599% 0.224215% 0.074738% 0.000000% 1.270553%
1.124302% 0.121681% 0.051722% 0.000000% 1.297705%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.989537% 0.448430% 0.149477% 0.000000% 3.587444%
2.479539% 0.327854% 0.099339% 0.000000% 2.906732%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 11.322961%
Weighted Average Net Coupon 10.822961%
Weighted Average Pass-Through Rate 8.973325%
Weighted Average Maturity(Stepdown Calculation ) 202
Beginning Scheduled Collateral Loan Count 4,412
Number Of Loans Paid In Full 199
Ending Scheduled Collateral Loan Count 4,213
Beginning Scheduled Collateral Balance 173,659,660.62
Ending Scheduled Collateral Balance 164,829,005.78
Ending Actual Collateral Balance at 31-Oct-2003 164,829,005.78
Monthly P &I Constant 1,719,435.29
Special Servicing Fee 0.00
Prepayment Penalties 294,511.45
Realized Loss Amount 0.00
Cumulative Realized Loss 127,382.18
Ending Scheduled Balance for Premium Loans 164,829,005.78
Scheduled Principal 80,817.33
Unscheduled Principal 8,749,837.51
Miscellaneous Reporting
Credit Enhancement Percentage 22.8148%
Step Down NO
Trigger Event NO
Overcollateralization Target Amount 489,131.32
Overcollateralization Increase Amount 0.00
Overcollateralization Reduction Amount 0.00
Specified Overcollateralization Amount 489,131.32
Overcollateralization Deficiency Amount 0.00
Overcollateralization Amount 489,131.32
Extra Principal Distribution 0.00
Excess Cash 831,411.02
Undrawn Pool Insurance 27,345,500.13
Class A-1 PT rate next distribution date 1.49875%
Class A-2 PT rate next distribution date 1.49875%
Class M-1 PT rate next distribution date 1.91875%
Class M-2 PT rate next distribution date 2.96875%
Class M-3 PT rate next distribution date 4.21875%
Class M-4 PT rate next distribution date 5.11875%
Soldier/Sailor Interest Shortfall 809.13
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 11.548236 11.045445 11.322961
Weighted Average Net Rate 11.048236 10.545444 10.822961
Weighted Average Maturity 198 207 202
Beginning Loan Count 3,000 1,412 4,412
Loans Paid In Full 125 74 199
Ending Loan Count 2,875 1,338 4,213
Beginning Scheduled Balance 95,851,629.39 77,808,031.23 173,659,660.62
Ending scheduled Balance 91,544,039.39 73,284,966.39 164,829,005.78
Record Date 10/31/2003 10/31/2003 10/31/2003
Principal And Interest Constant 964,471.79 754,963.50 1,719,435.29
Scheduled Principal 42,040.75 38,776.58 80,817.33
Unscheduled Principal 4,265,549.25 4,484,288.26 8,749,837.51
Scheduled Interest 922,431.04 716,186.92 1,638,617.96
Servicing Fees 39,938.20 32,420.03 72,358.23
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,597.53 1,296.81 2,894.34
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 145,965.94 118,812.35 264,778.29
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 734,929.37 563,657.73 1,298,587.10
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 34,430.68 92,951.50 127,382.18
Percentage of Cumulative Losses 0.0322 0.1049 0.0651
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 9.200837 8.693052 8.973325