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
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset-Backed Certificates, Series 2003-2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-91334-05 54-2121830
Pooling and Servicing Agreement) (Commission 54-2121828
(State or other File Number) 54-2121829
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 BEAR STEARNS ASSET
BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2003-2 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
2003-2 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.
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset-Backed Certificates, Series 2003-2 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: 12/8/03
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset-
Backed Certificates, Series 2003-2 Trust,
relating to the November 25, 2003 distribution.
EX-99.1
Bear Stearns Asset Backed Securities
Asset-Backed Certificates
Record Date: 10/31/03
Distribution Date: 11/25/03
BSA Series: 2003-2
Contact: CTSLink Customer Service
Wells Fargo Bank Minnesota, N.A.
Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
Telephone: (301) 815-6600
Fax: (301) 815-6600
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 07384YJN7 SEN 1.52000% 164,871,568.74 201,876.08 8,371,179.74
A-2 07384YJP2 SEN 1.57000% 180,480,108.84 228,257.20 8,491,747.60
A-3 07384YJQ0 SEN 1.87000% 28,579,000.00 43,051.09 0.00
A-IO 07384YJT4 IO 5.00000% 0.00 215,416.67 0.00
M-1 07384YJU1 MEZ 2.32000% 25,851,000.00 48,312.65 0.00
M-2 07384YJV9 MEZ 3.12000% 23,265,000.00 58,472.70 0.00
B 07384YJW7 SUB 4.62000% 20,680,000.00 76,964.07 0.00
B-IO BSA032BIO IO 0.00000% 0.00 0.00 0.00
R-1 BSA0302R1 RES 0.00000% 0.00 0.00 0.00
R-2 BSA0302R2 RES 0.00000% 0.00 0.00 0.00
R-3 BSA0302R3 RES 0.00000% 0.00 0.00 0.00
OC BSA0302OC OC 0.00000% 5,921,824.47 0.00 0.00
Totals 449,648,502.05 872,350.46 16,862,927.34
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 156,500,389.00 8,573,055.82 0.00
A-2 0.00 171,988,361.24 8,720,004.80 0.00
A-3 0.00 28,579,000.00 43,051.09 0.00
A-IO 0.00 0.00 215,416.67 0.00
M-1 0.00 25,851,000.00 48,312.65 0.00
M-2 0.00 23,265,000.00 58,472.70 0.00
B 0.00 20,680,000.00 76,964.07 0.00
B-IO 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00
OC 0.00 7,796,474.67 0.00 0.00
Totals 0.00 434,660,224.91 17,735,277.80 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-1 200,005,000.00 164,871,568.74 0.00 8,371,179.74 0.00 0.00
A-2 218,628,000.00 180,480,108.84 0.00 8,491,747.60 0.00 0.00
A-3 28,579,000.00 28,579,000.00 0.00 0.00 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
M-1 25,851,000.00 25,851,000.00 0.00 0.00 0.00 0.00
M-2 23,265,000.00 23,265,000.00 0.00 0.00 0.00 0.00
B 20,680,000.00 20,680,000.00 0.00 0.00 0.00 0.00
B-IO 0.00 0.00 0.00 0.00 0.00 0.00
R-1 50.00 0.00 0.00 0.00 0.00 0.00
R-2 50.00 0.00 0.00 0.00 0.00 0.00
R-3 50.00 0.00 0.00 0.00 0.00 0.00
OC 569.35 5,921,824.47 0.00 0.00 0.00 0.00
Totals 517,008,719.35 449,648,502.05 0.00 16,862,927.34 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 8,371,179.74 156,500,389.00 0.78248238 8,371,179.74
A-2 8,491,747.60 171,988,361.24 0.78667125 8,491,747.60
A-3 0.00 28,579,000.00 1.00000000 0.00
A-IO 0.00 0.00 0.00000000 0.00
M-1 0.00 25,851,000.00 1.00000000 0.00
M-2 0.00 23,265,000.00 1.00000000 0.00
B 0.00 20,680,000.00 1.00000000 0.00
B-IO 0.00 0.00 0.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
R-3 0.00 0.00 0.00000000 0.00
OC 0.00 7,796,474.67 13,693.64129270 0.00
Totals 16,862,927.34 434,660,224.91 0.84072127 16,862,927.34
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-1 200,005,000.00 824.33723527 0.00000000 41.85485233 0.00000000
A-2 218,628,000.00 825.51232614 0.00000000 38.84107983 0.00000000
A-3 28,579,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M-1 25,851,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 23,265,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 20,680,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000
R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000
R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000
OC 569.35 10401026.55659960 0.00000000 0.00000000 0.00000000
<FN>
All Classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 41.85485233 782.48238294 0.78248238 41.85485233
A-2 0.00000000 38.84107983 786.67124632 0.78667125 38.84107983
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
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
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.0000000013,693,641.29270220 13693.64129270 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-1 200,005,000.00 1.52000% 164,871,568.74 201,876.08 0.00 0.00
A-2 218,628,000.00 1.57000% 180,480,108.84 228,257.20 0.00 0.00
A-3 28,579,000.00 1.87000% 28,579,000.00 43,051.09 0.00 0.00
A-IO 0.00 5.00000% 51,700,000.00 215,416.67 0.00 0.00
M-1 25,851,000.00 2.32000% 25,851,000.00 48,312.65 0.00 0.00
M-2 23,265,000.00 3.12000% 23,265,000.00 58,472.70 0.00 0.00
B 20,680,000.00 4.62000% 20,680,000.00 76,964.07 0.00 0.00
B-IO 0.00 0.00000% 449,648,502.05 0.00 0.00 0.00
R-1 50.00 0.00000% 0.00 0.00 0.00 0.00
R-2 50.00 0.00000% 0.00 0.00 0.00 0.00
R-3 50.00 0.00000% 0.00 0.00 0.00 0.00
OC 569.35 0.00000% 5,921,824.47 0.00 0.00 0.00
Totals 517,008,719.35 872,350.46 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 0.00 201,876.08 0.00 156,500,389.00
A-2 0.00 0.00 228,257.20 0.00 171,988,361.24
A-3 0.00 0.00 43,051.09 0.00 28,579,000.00
A-IO 0.00 0.00 215,416.67 0.00 51,700,000.00
M-1 0.00 0.00 48,312.65 0.00 25,851,000.00
M-2 0.00 0.00 58,472.70 0.00 23,265,000.00
B 0.00 0.00 76,964.07 0.00 20,680,000.00
B-IO 0.00 0.00 0.00 0.00 434,660,224.91
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00
OC 0.00 0.00 0.00 0.00 7,796,474.67
Totals 0.00 0.00 872,350.46 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-1 200,005,000.00 1.52000% 824.33723527 1.00935517 0.00000000 0.00000000
A-2 218,628,000.00 1.57000% 825.51232614 1.04404376 0.00000000 0.00000000
A-3 28,579,000.00 1.87000% 1000.00000000 1.50638896 0.00000000 0.00000000
A-IO 0.00 5.00000% 1000.00000000 4.16666673 0.00000000 0.00000000
M-1 25,851,000.00 2.32000% 1000.00000000 1.86888902 0.00000000 0.00000000
M-2 23,265,000.00 3.12000% 1000.00000000 2.51333333 0.00000000 0.00000000
B 20,680,000.00 4.62000% 1000.00000000 3.72166683 0.00000000 0.00000000
B-IO 0.00 0.00000% 869.71189397 0.00000000 0.00000000 0.00000000
R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
OC 569.35 0.00000% 10401026.55659960 0.00000000 0.00000000 0.00000000
<FN>
All Classes are per $1,000 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 0.00000000 1.00935517 0.00000000 782.48238294
A-2 0.00000000 0.00000000 1.04404376 0.00000000 786.67124632
A-3 0.00000000 0.00000000 1.50638896 0.00000000 1000.00000000
A-IO 0.00000000 0.00000000 4.16666673 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 1.86888902 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.51333333 0.00000000 1000.00000000
B 0.00000000 0.00000000 3.72166683 0.00000000 1000.00000000
B-IO 0.00000000 0.00000000 0.00000000 0.00000000 840.72150962
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 13693641.29270220
<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 17,951,344.97
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 443,173.49
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
Total Deposits 18,394,518.46
Withdrawals
Reimbursement for Servicer Advances 486,495.93
Payment of Service Fee 172,744.73
Payment of Interest and Principal 17,735,277.80
Total Withdrawals (Pool Distribution Amount) 18,394,518.46
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 168,997.67
Master Servicing Fee 3,747.06
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 172,744.73
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 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 99 1 0 100
6,615,548.37 149,371.84 0.00 6,764,920.21
30 Days 207 28 0 0 235
19,932,655.65 1,986,294.42 0.00 0.00 21,918,950.07
60 Days 83 8 8 0 99
9,081,062.26 329,380.02 873,706.37 0.00 10,284,148.65
90 Days 38 3 28 0 69
4,021,825.68 255,759.45 4,206,865.40 0.00 8,484,450.53
120 Days 14 7 22 0 43
1,668,533.69 936,265.70 3,475,031.20 0.00 6,079,830.59
150 Days 7 6 32 1 46
2,116,805.38 333,213.39 4,393,993.33 122,311.54 6,966,323.64
180+ Days 6 7 30 5 48
476,116.75 600,980.47 2,544,173.71 430,772.02 4,052,042.95
Totals 355 158 121 6 640
37,296,999.41 11,057,441.82 15,643,141.85 553,083.56 64,550,666.64
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 2.302326% 0.023256% 0.000000% 2.325581%
1.519167% 0.034301% 0.000000% 1.553468%
30 Days 4.813953% 0.651163% 0.000000% 0.000000% 5.465116%
4.577252% 0.456124% 0.000000% 0.000000% 5.033377%
60 Days 1.930233% 0.186047% 0.186047% 0.000000% 2.302326%
2.085337% 0.075637% 0.200634% 0.000000% 2.361609%
90 Days 0.883721% 0.069767% 0.651163% 0.000000% 1.604651%
0.923555% 0.058732% 0.966047% 0.000000% 1.948334%
120 Days 0.325581% 0.162791% 0.511628% 0.000000% 1.000000%
0.383155% 0.215000% 0.797992% 0.000000% 1.396147%
150 Days 0.162791% 0.139535% 0.744186% 0.023256% 1.069767%
0.486094% 0.076518% 1.009018% 0.028087% 1.599718%
180+ Days 0.139535% 0.162791% 0.697674% 0.116279% 1.116279%
0.109333% 0.138007% 0.584233% 0.098921% 0.930494%
Totals 8.255814% 3.674419% 2.813953% 0.139535% 14.883721%
8.564728% 2.539185% 3.592226% 0.127008% 14.823147%
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 6 1 0 7
386,900.59 149,371.84 0.00 536,272.43
30 Days 20 1 0 0 21
1,994,136.29 156,593.51 0.00 0.00 2,150,729.80
60 Days 12 0 1 0 13
1,219,290.27 0.00 5,804.03 0.00 1,225,094.30
90 Days 2 0 4 0 6
141,123.25 0.00 304,198.51 0.00 445,321.76
120 Days 2 1 3 0 6
284,772.42 62,842.81 437,827.83 0.00 785,443.06
150 Days 0 0 3 0 3
0.00 0.00 288,872.60 0.00 288,872.60
180 Days 1 1 7 2 11
92,793.42 131,359.49 697,343.59 193,336.66 1,114,833.16
Totals 37 9 19 2 67
3,732,115.65 737,696.40 1,883,418.40 193,336.66 6,546,567.11
0-29 Days 1.474201% 0.245700% 0.000000% 1.719902%
0.661233% 0.255284% 0.000000% 0.916517%
30 Days 4.914005% 0.245700% 0.000000% 0.000000% 5.159705%
3.408083% 0.267626% 0.000000% 0.000000% 3.675709%
60 Days 2.948403% 0.000000% 0.245700% 0.000000% 3.194103%
2.083830% 0.000000% 0.009919% 0.000000% 2.093750%
90 Days 0.491400% 0.000000% 0.982801% 0.000000% 1.474201%
0.241187% 0.000000% 0.519891% 0.000000% 0.761078%
120 Days 0.491400% 0.245700% 0.737101% 0.000000% 1.474201%
0.486691% 0.107402% 0.748271% 0.000000% 1.342363%
150 Days 0.000000% 0.000000% 0.737101% 0.000000% 0.737101%
0.000000% 0.000000% 0.493698% 0.000000% 0.493698%
180 Days 0.245700% 0.245700% 1.719902% 0.491400% 2.702703%
0.158589% 0.224500% 1.191796% 0.330422% 1.905308%
Totals 9.090909% 2.211302% 4.668305% 0.491400% 16.461916%
6.378380% 1.260761% 3.218860% 0.330422% 11.188423%
<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 23 0 0 23
2,946,692.41 0.00 0.00 2,946,692.41
30 Days 60 7 0 0 67
7,628,986.79 664,853.32 0.00 0.00 8,293,840.11
60 Days 33 0 5 0 38
4,518,783.94 0.00 435,140.67 0.00 4,953,924.61
90 Days 11 0 14 0 25
1,932,334.44 0.00 3,247,269.33 0.00 5,179,603.77
120 Days 6 4 9 0 19
989,416.37 730,373.57 1,877,058.54 0.00 3,596,848.48
150 Days 2 1 10 0 13
1,927,697.61 99,569.58 2,476,760.53 0.00 4,504,027.72
180 Days 1 4 10 1 16
125,958.23 441,293.84 1,012,374.58 61,072.73 1,640,699.38
Totals 113 39 48 1 201
17,123,177.38 4,882,782.72 9,048,603.65 61,072.73 31,115,636.48
0-29 Days 2.316213% 0.000000% 0.000000% 2.316213%
2.210938% 0.000000% 0.000000% 2.210938%
30 Days 6.042296% 0.704935% 0.000000% 0.000000% 6.747231%
5.724118% 0.498847% 0.000000% 0.000000% 6.222965%
60 Days 3.323263% 0.000000% 0.503525% 0.000000% 3.826788%
3.390496% 0.000000% 0.326491% 0.000000% 3.716988%
90 Days 1.107754% 0.000000% 1.409869% 0.000000% 2.517623%
1.449853% 0.000000% 2.436464% 0.000000% 3.886317%
120 Days 0.604230% 0.402820% 0.906344% 0.000000% 1.913394%
0.742371% 0.548008% 1.408379% 0.000000% 2.698757%
150 Days 0.201410% 0.100705% 1.007049% 0.000000% 1.309164%
1.446374% 0.074708% 1.858342% 0.000000% 3.379425%
180 Days 0.100705% 0.402820% 1.007049% 0.100705% 1.611279%
0.094508% 0.331108% 0.759596% 0.045824% 1.231036%
Totals 11.379658% 3.927492% 4.833837% 0.100705% 20.241692%
12.847720% 3.663609% 6.789273% 0.045824% 23.346426%
<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 51 0 0 51
2,137,269.76 0.00 0.00 2,137,269.76
30 Days 113 15 0 0 128
9,656,036.43 857,819.12 0.00 0.00 10,513,855.55
60 Days 35 7 2 0 44
3,208,920.12 291,053.37 432,761.67 0.00 3,932,735.16
90 Days 22 3 8 0 33
1,742,845.83 255,759.45 559,324.29 0.00 2,557,929.57
120 Days 6 2 8 0 16
394,344.90 143,049.32 1,045,084.12 0.00 1,582,478.34
150 Days 4 4 17 1 26
139,414.07 177,530.81 1,550,872.91 122,311.54 1,990,129.33
180 Days 4 2 10 2 18
257,365.10 28,327.14 719,512.23 176,362.63 1,181,567.10
Totals 184 84 45 3 316
15,398,926.45 3,890,808.97 4,307,555.22 298,674.17 23,895,964.81
0-29 Days 1.968352% 0.000000% 0.000000% 1.968352%
0.935332% 0.000000% 0.000000% 0.935332%
30 Days 4.361250% 0.578927% 0.000000% 0.000000% 4.940178%
4.225765% 0.375407% 0.000000% 0.000000% 4.601172%
60 Days 1.350830% 0.270166% 0.077190% 0.000000% 1.698186%
1.404318% 0.127374% 0.189389% 0.000000% 1.721080%
90 Days 0.849093% 0.115785% 0.308761% 0.000000% 1.273640%
0.762721% 0.111928% 0.244777% 0.000000% 1.119425%
120 Days 0.231571% 0.077190% 0.308761% 0.000000% 0.617522%
0.172577% 0.062603% 0.457360% 0.000000% 0.692539%
150 Days 0.154381% 0.154381% 0.656117% 0.038595% 1.003474%
0.061012% 0.077693% 0.678708% 0.053527% 0.870939%
180 Days 0.154381% 0.077190% 0.385951% 0.077190% 0.694712%
0.112631% 0.012397% 0.314880% 0.077181% 0.517088%
Totals 7.101505% 3.241992% 1.736781% 0.115785% 12.196063%
6.739023% 1.702732% 1.885113% 0.130709% 10.457577%
<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 19 0 0 19
1,144,685.61 0.00 0.00 1,144,685.61
30 Days 14 5 0 0 19
653,496.14 307,028.47 0.00 0.00 960,524.61
60 Days 3 1 0 0 4
134,067.93 38,326.65 0.00 0.00 172,394.58
90 Days 3 0 2 0 5
205,522.16 0.00 96,073.27 0.00 301,595.43
120 Days 0 0 2 0 2
0.00 0.00 115,060.71 0.00 115,060.71
150 Days 1 1 2 0 4
49,693.70 56,113.00 77,487.29 0.00 183,293.99
180 Days 0 0 3 0 3
0.00 0.00 114,943.31 0.00 114,943.31
Totals 21 26 9 0 56
1,042,779.93 1,546,153.73 403,564.58 0.00 2,992,498.24
0-29 Days 6.148867% 0.000000% 0.000000% 6.148867%
7.541590% 0.000000% 0.000000% 7.541590%
30 Days 4.530744% 1.618123% 0.000000% 0.000000% 6.148867%
4.305462% 2.022811% 0.000000% 0.000000% 6.328273%
60 Days 0.970874% 0.323625% 0.000000% 0.000000% 1.294498%
0.883287% 0.252509% 0.000000% 0.000000% 1.135796%
90 Days 0.970874% 0.000000% 0.647249% 0.000000% 1.618123%
1.354052% 0.000000% 0.632964% 0.000000% 1.987017%
120 Days 0.000000% 0.000000% 0.647249% 0.000000% 0.647249%
0.000000% 0.000000% 0.758060% 0.000000% 0.758060%
150 Days 0.323625% 0.323625% 0.647249% 0.000000% 1.294498%
0.327400% 0.369692% 0.510513% 0.000000% 1.207605%
180 Days 0.000000% 0.000000% 0.970874% 0.000000% 0.970874%
0.000000% 0.000000% 0.757287% 0.000000% 0.757287%
Totals 6.796117% 8.414239% 2.912621% 0.000000% 18.122977%
6.870200% 10.186603% 2.658825% 0.000000% 19.715628%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 443,173.49
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 7.792074%
Weighted Average Net Coupon 7.341061%
Weighted Average Pass-Through Rate 7.331061%
Weighted Average Maturity(Stepdown Calculation ) 299
Beginning Scheduled Collateral Loan Count 4,412
Number Of Loans Paid In Full 112
Ending Scheduled Collateral Loan Count 4,300
Beginning Scheduled Collateral Balance 449,648,502.05
Ending Scheduled Collateral Balance 434,660,224.91
Ending Actual Collateral Balance at 31-Oct-2003 435,472,071.23
Monthly P &I Constant 3,579,022.56
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 122,355.25
Ending Scheduled Balance for Premium Loans 434,660,224.91
Scheduled Principal 659,277.21
Unscheduled Principal 14,328,999.93
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 1,874,650.20
Overcollateralized reduction Amount 0.00
Specified O/C Amount 9,306,154.25
Overcollateralized Amount 7,796,474.67
Overcollateralized Deficiency Amount 1,509,679.58
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 1,874,650.20
Excess Cash Amount 1,874,650.20
Group Level Collateral Statement
Group Group 1 Group 2 Group 3
Collateral Description Mixed Fixed Mixed ARM Mixed Fixed
Weighted Average Coupon Rate 6.948004 7.149975 8.294533
Weighted Average Net Rate 6.555698 6.694034 7.834761
Weighted Average Maturity 314 318 286
Beginning Loan Count 415 1,024 2,658
Loans Paid In Full 8 31 67
Ending Loan Count 407 993 2,591
Beginning Scheduled Balance 59,714,001.32 139,142,200.39 235,304,990.10
Ending scheduled Balance 58,418,050.46 132,997,594.85 228,101,132.82
Record Date 10/31/2003 10/31/2003 10/31/2003
Principal And Interest Constant 431,097.19 1,008,628.67 1,995,874.45
Scheduled Principal 85,352.90 179,576.00 369,420.19
Unscheduled Principal 1,210,597.96 5,965,029.54 6,834,437.09
Scheduled Interest 345,744.29 829,052.67 1,626,454.26
Servicing Fees 19,521.80 52,867.12 90,155.70
Master Servicing Fees 497.61 1,159.54 1,960.85
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 325,724.88 775,026.01 1,534,337.71
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 122,355.25
Percentage of Cumulative Losses 0.0000 0.0000 0.0454
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 6.545699 6.684034 7.824761
Group Level Collateral Statement
Group Group 4 Total
Collateral Description Mixed ARM Fixed & Mixed ARM
Weighted Average Coupon Rate 9.181256 7.792074
Weighted Average Net Rate 8.681255 7.341061
Weighted Average Maturity 261 299
Beginning Loan Count 315 4,412
Loans Paid In Full 6 112
Ending Loan Count 309 4,300
Beginning Scheduled Balance 15,487,310.24 449,648,502.05
Ending scheduled Balance 15,143,446.78 434,660,224.91
Record Date 10/31/2003 10/31/2003
Principal And Interest Constant 143,422.25 3,579,022.56
Scheduled Principal 24,928.12 659,277.21
Unscheduled Principal 318,935.34 14,328,999.93
Scheduled Interest 118,494.13 2,919,745.35
Servicing Fees 6,453.05 168,997.67
Master Servicing Fees 129.06 3,747.06
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 0.00 0.00
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 111,912.02 2,747,000.62
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 122,355.25
Percentage of Cumulative Losses 0.0000 0.0237
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 8.671256 7.331061