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 : December 12, 2003
(Date of earliest event reported)
Commission File No.: 333-68246-01
First Union Commercial Mortgage Securities, Inc.
Commercial Mortgage Pass-Through Certificates
Series 2001-C4
(Exact name of registrant as specified in its charter)
New York (governing law of Pooling and Servicing Agreement)
(State of Incorporation)
22-3844543
22-3844544
22-3844545
22-6910887
(I.R.S. Employer Identification No.)
c/o Wells Fargo Bank Minnesota, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045
(Address of principal executive offices) (Zip Code)
(410) 884-2000
Registrant's Full Telephone Number
(Former name, former address and former fiscal year,
if changed since last report)
ITEM 5. Other Events
On December 12, 2003 a distribution was made to holders of First Union
Commercial Mortgage Securities, Inc.,Commercial Mortgage Pass-Through
Certificates, Series 2001-C4.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Item 601(a) of
Regulation S-K
Exhibit Number Description
(EX-99.1) Monthly report distributed to holders of Commercial Mortgage
Pass-Through Certificates, Series 2001-C4, relating to the
December 12, 2003 distribution.
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
First Union Commercial Mortgage Securities, Inc.
Commercial Mortgage Pass-Through Certificates
Series 2001-C4
By: Wells Fargo Bank Minnesota, N.A., as Trustee
By: /s/ Beth Belfield, Assistant Vice President
By: Beth Belfield, Assistant Vice President
Date: December 12, 2003
INDEX TO EXHIBITS
Exhibit Number Description
(EX-99.1) Monthly report distributed to holders of Commercial Mortgage
Pass-Through Certificates, Series 2001-C4, relating to the
December 12, 2003 distribution.
EX-99.1
Wells Fargo Bank Minnesota, N.A.
Corporate Trust Services
9062 Old Annapolis Rd
Columbia, MD 21045-1951
First Union Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates
Series 2001-C4
For Additional Information, please contact
CTSLink Customer Service
(301) 815-6600
Reports Available on the World Wide Web
@ www.ctslink.com/cmbs
Payment Date: 12/12/2003
Record Date: 11/28/2003
DISTRIBUTION DATE STATEMENT
Table of Contents
STATEMENT SECTIONS PAGE(s)
Certificate Distribution Detail 2
Certificate Factor Detail 3
Reconciliation Detail 4
Other Required Information 5
Cash Reconciliation 6
Ratings Detail 7
Current Mortgage Loan and Property Stratification Tables 8 - 10
Mortgage Loan Detail 11 - 15
Principal Prepayment Detail 16
Historical Detail 17
Delinquency Loan Detail 18
Specially Serviced Loan Detail 19 - 21
Modified Loan Detail 22
Liquidated Loan Detail 23
Depositor
First Union Commercial Mortgage
Securities, Inc.
201 South College Street
Charlotte, NC 28288-1016
Contact: Tim Steward
Phone Number: (704) 593-7822
Master Servicer
First Union National Bank
Charlotte Plaza, Floor 23 NC-1075
201 South College Street
Charlotte, NC 28288
Contact: Timothy S.Ryan
Phone Number: (704) 593-7878
Special Servicer
Lennar Partners, Inc.
760 N.W.107th Avenue
Miami, FL 33172
Contact: Steve Bruha
Phone Number: (305) 229-6614
This report has been compiled from information provided to Wells Fargo Bank MN,
N.A. by various third parties, which may include the Servicer, Master Servicer,
Special Servicer and others. Wells Fargo Bank MN, N.A. has not independently
confirmed the accuracy of information received from these third parties and
assumes no duty to do so. Wells Fargo Bank MN, N.A. expressly disclaims any
responsibility for the accuracy or completeness of information furnished by
third parties.
Copyright 2003, Wells Fargo Bank Minnesota, N.A.
Certificate Distribution Detail
Class CUSIP Pass-Through Original Beginning Principal
Rate Balance Balance Distribution
<s> <c> <c> <c> <c> <c>
A-1 33736XEA3 5.673000% 286,136,000.00 260,510,931.41 3,270,262.02
A-2 33736XEB1 6.223000% 469,800,000.00 469,800,000.00 0.00
B 33736XEC9 6.417000% 36,696,000.00 36,696,000.00 0.00
C 33736XED7 6.538000% 12,232,000.00 12,232,000.00 0.00
D 33736XEE5 6.617000% 12,232,000.00 12,232,000.00 0.00
E 33736XEF2 6.667000% 17,125,000.00 17,125,000.00 0.00
F 33736XEJ4 6.790000% 12,232,000.00 12,232,000.00 0.00
G 33736XEK1 6.937000% 12,232,000.00 12,232,000.00 0.00
H 33736XEL9 7.036000% 17,125,000.00 17,125,000.00 0.00
J 33736XEM7 7.226113% 14,678,000.00 14,678,000.00 0.00
K 33736XEN5 6.000000% 14,679,000.00 14,679,000.00 0.00
L 33736XEP0 6.000000% 22,017,000.00 22,017,000.00 0.00
M 33736XEQ8 6.000000% 7,339,000.00 7,339,000.00 0.00
N 33736XER6 6.000000% 7,029,000.00 7,029,000.00 0.00
O 33736XES4 6.000000% 6,938,000.00 6,938,000.00 0.00
P 33736XET2 6.000000% 4,626,000.00 4,626,000.00 0.00
Q 33736XEU9 6.000000% 25,443,069.00 25,443,069.00 0.00
Z-I 33736XEX3 0.000000% 0.00 0.00 0.00
Z-II 33736XEY1 0.000000% 0.00 0.00 0.00
R 33736XEW5 0.000000% 0.00 0.00 0.00
Totals 978,559,069.00 952,934,000.41 3,270,262.02
Class CUSIP Interest Prepayment Realized Loss/ Total Ending Current
Distribution Penalties Additional Trust Distribution Balance Subordination
Fund Expenses Level(1)
<s> <c> <c> <c> <c> <c> <c> <c>
A-1 33736XEA3 1,231,565.43 281,797.17 0.00 4,783,624.62 257,240,669.39 23.44%
A-2 33736XEB1 2,436,304.50 0.00 0.00 2,436,304.50 469,800,000.00 23.44%
B 33736XEC9 196,231.86 0.00 0.00 196,231.86 36,696,000.00 19.58%
C 33736XED7 66,644.01 0.00 0.00 66,644.01 12,232,000.00 18.29%
D 33736XEE5 67,449.29 0.00 0.00 67,449.29 12,232,000.00 17.00%
E 33736XEF2 95,143.65 0.00 0.00 95,143.65 17,125,000.00 15.20%
F 33736XEJ4 69,212.73 0.00 0.00 69,212.73 12,232,000.00 13.91%
G 33736XEK1 70,711.15 0.00 0.00 70,711.15 12,232,000.00 12.62%
H 33736XEL9 100,409.58 0.00 0.00 100,409.58 17,125,000.00 10.82%
J 33736XEM7 88,387.40 0.00 0.00 88,387.40 14,678,000.00 9.27%
K 33736XEN5 73,395.00 0.00 0.00 73,395.00 14,679,000.00 7.73%
L 33736XEP0 110,085.00 0.00 0.00 110,085.00 22,017,000.00 5.41%
M 33736XEQ8 36,695.00 0.00 0.00 36,695.00 7,339,000.00 4.63%
N 33736XER6 35,145.00 0.00 0.00 35,145.00 7,029,000.00 3.89%
O 33736XES4 34,690.00 0.00 0.00 34,690.00 6,938,000.00 3.16%
P 33736XET2 23,130.00 0.00 0.00 23,130.00 4,626,000.00 2.68%
Q 33736XEU9 116,455.86 0.00 25,220.60 116,455.86 25,417,848.40 0.00%
Z-I 33736XEX3 0.00 0.00 0.00 0.00 0.00 0.00%
Z-II 33736XEY1 0.00 0.00 0.00 0.00 0.00 0.00%
R 33736XEW5 0.00 0.00 0.00 0.00 0.00 0.00%
Totals 4,851,655.46 281,797.17 25,220.60 8,403,714.65 949,638,517.79
Original Beginning
Pass-Through Notional Notional
Class CUSIP Rate Amount Amount
<s> <c> <c> <c> <c>
IO-I 33736XEG0 0.610637% 978,559,069.00 952,934,000.41
IO-II 33736XEH8 0.872348% 537,874,000.00 537,874,000.00
Ending
Interest Prepayment Total Notional
Class CUSIP Distribution Penalties Distribution Amount
<s> <c> <c> <c> <c> <c>
IO-I 33736XEG0 484,914.14 202,058.25 686,972.39 949,638,517.79
IO-II 33736XEH8 391,011.27 0.00 391,011.27 537,874,000.00
<FN>
(1) Calculated by taking (A) the sum of the ending certificate balance of all
classes less (B) the sum of (i) the ending certificate balance of the designated
class and (ii) the ending certificate balance of all classes which are not
subordinate to the designated class and dividing the result by (A).
</FN>
Certificate Factor Detail
Realized Loss/
Beginning Principal Interest Prepayment Additional Trust Ending
Class CUSIP Balance Distribution Distribution Penalties Fund Expenses Balance
<c> <c> <c>
A-1 33736XEA3 910.44444394 11.42904780 4.30412611 0.98483648 0.00000000 899.01539614
A-2 33736XEB1 1,000.00000000 0.00000000 5.18583333 0.00000000 0.00000000 1,000.00000000
B 33736XEC9 1,000.00000000 0.00000000 5.34750000 0.00000000 0.00000000 1,000.00000000
C 33736XED7 1,000.00000000 0.00000000 5.44833306 0.00000000 0.00000000 1,000.00000000
D 33736XEE5 1,000.00000000 0.00000000 5.51416694 0.00000000 0.00000000 1,000.00000000
E 33736XEF2 1,000.00000000 0.00000000 5.55583358 0.00000000 0.00000000 1,000.00000000
F 33736XEJ4 1,000.00000000 0.00000000 5.65833306 0.00000000 0.00000000 1,000.00000000
G 33736XEK1 1,000.00000000 0.00000000 5.78083306 0.00000000 0.00000000 1,000.00000000
H 33736XEL9 1,000.00000000 0.00000000 5.86333314 0.00000000 0.00000000 1,000.00000000
J 33736XEM7 1,000.00000000 0.00000000 6.02176046 0.00000000 0.00000000 1,000.00000000
K 33736XEN5 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
L 33736XEP0 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
M 33736XEQ8 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
N 33736XER6 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
O 33736XES4 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
P 33736XET2 1,000.00000000 0.00000000 5.00000000 0.00000000 0.00000000 1,000.00000000
Q 33736XEU9 1,000.00000000 0.00000000 4.57711528 0.00000000 0.99125620 999.00874380
Z-I 33736XEX3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Z-II 33736XEY1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R 33736XEW5 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Beginnning Ending
Notional Interest Prepayment Notional
Class CUSIP Amount Distribution Penalties Amount
IO-I 33736XEG0 973.81346778 0.49553896 0.20648549 970.44577877
IO-II 33736XEH8 1,000.00000000 0.72695700 0.00000000 1,000.00000000
Reconciliation Detail
Advance Summary
<s> <c>
P & I Advances Outstanding 917,156.49
Servicing Advances Outstanding 88,691.09
Reimbursement for Interest on P&I Advances 0.00
paid from general collections
Reimbursement for Interest on Servicing Advances 0.00
paid from general collections
Aggregate amount of Nonrecoverable Advances 0.00
Current Period Accrued Servicing Fees 46,549.50
Less Delinquent Servicing Fees 3,365.30
Less Reductions to Servicing Fees 0.00
Plus Servicing Fees for Delinquent Payments Received 1,182.65
Plus Adjustments for Prior Servicing Calculation 0.00
Total Servicing Fees Collected 44,366.85
Certificate Interest Reconciliation
Class Accrued Net Aggregate Deferred Distributable Distributable Additional Interest Remaining Unpaid
Certificate Prepayment Interest Certificate Certificate Trust Distribution Distributable
Interest Interest Shortfall Amount Interest Interest Fund Certificate
Adjustment Expenses Interest
<s> <c> <c> <c> <c> <c> <c> <c>
A-1 1,231,565.43 0.00 0.00 1,231,565.43 0.00 0.00 1,231,565.43 0.00
A-2 2,436,304.50 0.00 0.00 2,436,304.50 0.00 0.00 2,436,304.50 0.00
IO-I 484,914.14 0.00 0.00 484,914.14 0.00 0.00 484,914.14 0.00
IO-II 391,011.27 0.00 0.00 391,011.27 0.00 0.00 391,011.27 0.00
B 196,231.86 0.00 0.00 196,231.86 0.00 0.00 196,231.86 0.00
C 66,644.01 0.00 0.00 66,644.01 0.00 0.00 66,644.01 0.00
D 67,449.29 0.00 0.00 67,449.29 0.00 0.00 67,449.29 0.00
E 95,143.65 0.00 0.00 95,143.65 0.00 0.00 95,143.65 0.00
F 69,212.73 0.00 0.00 69,212.73 0.00 0.00 69,212.73 0.00
G 70,711.15 0.00 0.00 70,711.15 0.00 0.00 70,711.15 0.00
H 100,409.58 0.00 0.00 100,409.58 0.00 0.00 100,409.58 0.00
J 88,387.40 0.00 0.00 88,387.40 0.00 0.00 88,387.40 0.00
K 73,395.00 0.00 0.00 73,395.00 0.00 0.00 73,395.00 0.00
L 110,085.00 0.00 0.00 110,085.00 0.00 0.00 110,085.00 0.00
M 36,695.00 0.00 0.00 36,695.00 0.00 0.00 36,695.00 0.00
N 35,145.00 0.00 0.00 35,145.00 0.00 0.00 35,145.00 0.00
O 34,690.00 0.00 0.00 34,690.00 0.00 0.00 34,690.00 0.00
P 23,130.00 0.00 0.00 23,130.00 0.00 0.00 23,130.00 0.00
Q 127,215.35 0.00 0.00 127,215.35 0.00 10,759.49 116,455.86 92512.15
Z-I 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Z-II 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 5,738,340.36 0.00 0.00 5,738,340.36 0.00 10,759.49 5,727,580.87 92,512.15
Other Required Information
<s> <c>
Available Distribution Amount (1) 9,481,698.31
Aggregate Number of Outstanding Loans 136
Aggregate Stated Principal Balance of Loans Before Distribution 952,934,000.55
Aggregate Stated Principal Balance of Loans After Distribution 949,638,517.93
Aggregate Unpaid Principal Balance of Loans 949,756,061.35
Aggregate Amount of Servicing Fee 44,366.85
Aggregate Amount of Special Servicing Fee 4,140.35
Aggregate Amount of Trustee Fee 1,826.46
Aggregate Trust Fund Expenses 59.62
Interest Reserve Deposit 0.00
Interest Reserve Withdrawal 0.00
Specially Serviced Loans not Delinquent
Number of Outstanding Loans 0
Aggregate Unpaid Principal Balance 0.00
(1) The Available Distribution Amount includes any Prepayment Premiums.
Original Subordination Level
Class A-1 22.750000% Class H 10.500000%
Class A-2 22.750000% Class J 9.000000%
Class B 19.000000% Class K 7.500000%
Class C 17.750000% Class L 5.250000%
Class D 16.500000% Class M 4.500000%
Class E 14.750000% Class N 3.780000%
Class F 13.500000% Class O 3.070000%
Class G 12.250000% Class P 2.600000%
Class Q 0.000000%
Appraisal Reduction Amount
Appraisal Cumulative Date Appraisal
Loan Reduction ASER Reduction
Number Amount Amount Effected
502694601 926,003.39 35,958.75 05/12/03
Total 926,003.39 35,958.75
<s> <c> <c>
Cash Reconciliation Detail
Total Funds Collected
Interest:
Scheduled Interest 5,786,716.31
Interest reductions due to Nonrecoverability Determinations 0.00
Interest Adjustments 0.00
Deferred Interest 0.00
Net Prepayment Interest Shortfall 0.00
Net Prepayment Interest Excess 0.00
Extension Interest 0.00
Interest Reserve Withdrawal 0.00
Total Interest Collected 5,786,716.31
Principal:
Scheduled Principal 904,677.17
Unscheduled Principal 2,365,584.85
Principal Prepayments 2,365,584.85
Collection of Principal after Maturity Date 0.00
Recoveries from Liquidation and Insurance Proceeds 0.00
Excess of Prior Principal Amounts paid 0.00
Curtailments 0.00
Negative Amortization 0.00
Principal Adjustments 0.00
Total Principal Collected 3,270,262.02
Other:
Prepayment Penalties/Yield Maintenance 483,855.42
Repayment Fees 0.00
Borrower Option Extension Fees 0.00
Equity Payments Received 0.00
Net Swap Counterparty Payments Received 0.00
Total Other Collected: 483,855.42
Total Funds Collected 9,540,833.75
Total Funds Distributed
Fees:
Master Servicing Fee 46,549.50
Trustee Fee 1,826.46
Certificate Administration Fee 0.00
Insurer Fee 0.00
Miscellaneous Fee 0.00
Total Fees 48,375.96
Additional Trust Fund Expenses:
Reimbursement for Interest on Advances 0.00
ASER Amount 6,559.52
Special Servicing Fee 4,140.35
Rating Agency Expenses 0.00
Attorney Fees & Expenses 0.00
Bankruptcy Expense 0.00
Taxes Imposed on Trust Fund 0.00
Non-Recoverable Advances 0.00
Other Expenses 59.62
Total Additional Trust Fund Expenses 10,759.49
Interest Reserve Deposit 0.00
Payments to Certificateholders & Others:
Interest Distribution 5,727,580.87
Principal Distribution 3,270,262.02
Prepayment Penalties/Yield Maintenance 483,855.42
Borrower Option Extension Fees 0.00
Equity Payments Paid 0.00
Net Swap Counterparty Payments Paid 0.00
Total Payments to Certificateholders & Others 9,481,698.31
Total Funds Distributed 9,540,833.76
Ratings Detail
Original Ratings Current Ratings (1)
Class CUSIP Fitch Moody's S&P Fitch Moody's S&P
<s> <c> <c> <c> <c> <c> <c>
A-1 33736XEA3 X Aaa AAA X Aaa AAA
A-2 33736XEB1 X Aaa AAA X Aaa AAA
IO-I 33736XEG0 X Aaa AAA X Aaa AAA
IO-II 33736XEH8 X Aaa AAA X Aaa AAA
B 33736XEC9 X Aa2 AA X Aa2 AA
C 33736XED7 X Aa3 AA- X Aa3 AA-
D 33736XEE5 X A1 A+ X A1 A+
E 33736XEF2 X A2 A X A2 A
F 33736XEJ4 X A3 A- X A3 A-
G 33736XEK1 X Baa1 BBB+ X Baa1 BBB+
H 33736XEL9 X Baa2 BBB X Baa2 BBB
J 33736XEM7 X Baa3 BBB- X Baa3 BBB-
K 33736XEN5 X Ba1 BB+ X Ba1 BB+
L 33736XEP0 X Ba2 BB X Ba2 BB
M 33736XEQ8 X Ba3 BB- X Ba3 BB-
N 33736XER6 X B1 B+ X B1 B+
O 33736XES4 X B2 B X B2 B
P 33736XET2 X B3 B- X B3 B-
Q 33736XEU9 X NR NR X NR NR
Z-I 33736XEX3 X N/A NR X NR NR
Z-II 33736XEY1 X N/A NR X NR NR
<FN>
NR - Designates that the class was not rated by the above agency at the
time of original issuance.
X - Designates that the above rating agency did not rate any classes in this
transaction at the time of original issuance.
N/A - Data not available this period.
1) For any class not rated at the time of original issuance by any particular
rating agency, no request has been made subsequent to issuance to obtain rating
information, if any, from such rating agency. The current ratings were obtained
directly from the applicable rating agency within 30 days of the payment date
listed above. The ratings may have changed since they were obtained. Because the
ratings may have changed, you may want to obtain current ratings directly from
the rating agencies.
Fitch, Inc.
One State Street Plaza
New York, New York 10004
(212) 908-0500
Moody's Investors Service
99 Church Street
New York, New York 10007
(212) 553-0300
Standard & Poor's Rating Services
55 Water Street
New York, New York 10041
(212) 438-2430
</FN>
Current Mortgage Loan and Property Stratification Tables
Scheduled Balance
% Of
Scheduled # of Scheduled Agg. WAM Weighted
Balance Loans Balance Bal. (2) WAC Avg DSCR(1)
<s> <c> <c> <c> <c> <c> <c>
Below 1,000,000 7 5,690,629.74 0.60 94 7.7383 1.826137
1,000,001 to 2,000,000 16 23,495,135.00 2.47 96 7.6364 1.508744
2,000,001 to 3,000,000 16 40,956,429.30 4.31 88 7.4302 1.326398
3,000,001 to 4,000,000 15 52,347,376.24 5.51 100 7.4022 1.410884
4,000,001 to 5,000,000 19 86,220,549.40 9.08 85 7.4345 1.309311
5,000,001 to 6,000,000 7 39,415,858.37 4.15 81 7.4362 1.418765
6,000,001 to 7,000,000 12 76,584,684.73 8.06 93 7.3741 1.430599
7,000,001 to 8,000,000 6 44,771,331.85 4.71 93 7.3081 1.360962
8,000,001 to 9,000,000 4 33,016,236.32 3.48 81 7.2802 1.349257
9,000,001 to 10,000,000 7 66,039,894.33 6.95 71 7.1651 1.276064
10,000,001 to 15,000,000 13 161,274,443.77 16.98 83 7.2960 1.352814
15,000,001 to 20,000,000 8 135,264,735.41 14.24 93 7.2480 1.482804
20,000,001 to 25,000,000 2 43,949,017.23 4.63 96 7.0000 1.477500
25,000,001 or greater 4 140,612,196.24 14.81 86 7.1029 1.431130
Totals 136 949,638,517.93 100.00 87 7.2852 1.397436
State(3)
% Of
# of Scheduled Agg. WAM Weighted
State Props Balance Bal. (2) WAC Avg DSCR(1)
<s> <c> <c> <c> <c> <c> <c>
Alaska 1 1,837,073.62 0.19 89 7.8700 1.560000
Arizona 3 7,953,737.55 0.84 90 7.4220 1.171889
Arkansas 2 6,121,070.11 0.64 94 6.9496 1.637598
California 34 176,217,291.26 18.56 85 7.3352 1.367520
Colorado 2 10,652,069.37 1.12 93 7.3821 1.295648
Connecticut 3 31,092,600.05 3.27 94 7.2557 1.361150
Florida 13 55,166,482.95 5.81 86 7.4669 1.368056
Georgia 3 16,116,954.38 1.70 93 7.2778 1.459801
Illinois 5 55,805,282.18 5.88 92 7.3888 1.042752
Indiana 1 2,908,356.60 0.31 91 7.5300 1.280000
Maine 1 19,149,214.58 2.02 96 7.0000 1.350000
Maryland 6 14,827,923.87 1.56 94 7.2122 1.465533
Massachusetts 1 22,366,910.55 2.36 96 7.0000 1.340000
Michigan 7 80,880,620.58 8.52 77 7.3105 1.606214
Minnesota 1 1,209,096.38 0.13 94 6.9200 1.780000
Missouri 1 972,224.20 0.10 90 8.0000 1.360000
Nevada 7 60,298,673.94 6.35 83 7.1918 1.345472
New Jersey 9 71,364,899.77 7.51 93 7.2346 1.474167
New Mexico 1 6,772,527.33 0.71 92 7.8200 1.500000
New York 6 36,068,505.04 3.80 86 7.1515 1.261682
North Carolina 4 37,360,756.54 3.93 90 7.3464 1.449850
North Dakota 1 4,892,904.66 0.52 93 7.2500 1.200000
Oklahoma 1 1,007,871.24 0.11 56 7.4000 1.060000
Pennsylvania 4 47,931,487.64 5.05 80 6.9896 1.478989
Texas 9 38,235,281.40 4.03 75 7.4478 1.569357
Utah 3 17,902,823.37 1.89 104 8.1623 1.311729
Virginia 10 80,852,278.48 8.51 91 7.1658 1.494543
Washington 2 20,443,639.86 2.15 94 7.0000 1.404180
Washington,DC 1 9,408,300.90 0.99 91 7.6250 1.200000
West Virginia 3 13,821,659.53 1.46 95 7.1361 1.271432
Totals 145 949,638,517.93 100.00 87 7.2852 1.397436
Debt Service Coverage Ratio(1)
Debt Service # of Scheduled % of Weighted
Coverage Ratio Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
1.19 or less 24 162,065,080.83 17.07 86 7.2916 1.046639
1.20 to 1.24 11 54,878,266.11 5.78 94 7.3489 1.214255
1.25 to 1.29 17 96,315,335.00 10.14 82 7.5197 1.276718
1.30 to 1.34 15 111,483,534.72 11.74 92 7.2444 1.322714
1.35 to 1.39 9 102,796,760.93 10.82 86 7.3313 1.368428
1.40 to 1.44 7 56,976,234.30 6.00 84 7.0699 1.413852
1.45 to 1.49 8 51,635,723.84 5.44 91 7.2253 1.466254
1.50 to 1.54 9 56,702,022.66 5.97 84 7.5238 1.518783
1.55 to 1.59 8 62,376,226.03 6.57 90 7.4407 1.561837
1.60 to 1.64 4 43,256,985.07 4.56 93 7.0803 1.615707
1.65 to 1.69 8 51,611,338.20 5.43 93 7.3667 1.680387
1.70 or greater 16 99,541,010.24 10.48 84 6.9785 1.841217
Totals 136 949,638,517.93 100.00 87 7.2852 1.397436
Property Type
Property # of Scheduled % of Weighted
Type Props Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
Industrial 12 54,206,485.93 5.71 83 7.4879 1.435495
Mixed Use 5 17,249,399.16 1.82 93 7.3483 1.559221
Multi-Family 56 323,656,192.92 34.08 85 7.1333 1.344687
Office 27 253,093,699.72 26.65 83 7.3428 1.518318
Retail 42 289,236,812.74 30.46 95 7.3643 1.339909
Self Storage 3 12,195,927.47 1.28 95 7.2538 1.255015
Totals 145 949,638,517.93 100.00 87 7.2852 1.397436
Note Rate
Note # of Scheduled % of Weighted
Rate Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
6.749% or less 3 58,743,211.65 6.19 77 6.6720 1.620805
6.750% to 6.999% 11 110,342,843.91 11.62 87 6.9104 1.425127
7.000% to 7.249% 32 287,158,640.84 30.24 90 7.0533 1.403342
7.250% to 7.499% 38 213,710,380.51 22.50 89 7.3476 1.399979
7.500% to 7.749% 29 189,930,062.06 20.00 86 7.5663 1.288446
7.500% to 7.999% 9 34,038,365.56 3.58 82 7.8190 1.363605
8.000% to 8.249% 4 6,222,172.25 0.66 145 8.1342 1.462599
8.250% or greater 10 49,492,841.15 5.21 79 8.3718 1.458659
Totals 136 949,638,517.93 100.00 87 7.2852 1.397436
Seasoning
# of Scheduled % of Weighted
Seasoning Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
12 months or less 0 0.00 0.00 0 0.0000 0.000000
13 to 24 months 15 208,006,438.34 21.90 91 6.9272 1.526055
25 to 36 months 108 690,163,939.99 72.68 87 7.3157 1.351700
37 to 48 months 6 40,448,074.69 4.26 80 8.3871 1.442145
49 months and greater 7 11,020,064.91 1.16 72 8.0894 1.669990
Totals 136 949,638,517.93 100.00 87 7.2852 1.397436
Anticipated Remaining Term (ARD and Balloon Loans)
Anticipated # of Scheduled % of Weighted
Remaining Term(2) Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
60 months or less 13 81,781,705.65 8.61 42 7.3271 1.275090
61 to 84 months 10 49,133,642.24 5.17 78 8.3638 1.483538
85 to 108 months 109 768,103,334.08 80.88 93 7.2418 1.382834
109 to 120 months 0 0.00 0.00 0 0.0000 0.000000
121 months or greater 1 3,170,620.70 0.33 213 8.1700 1.245876
Totals 133 902,189,302.67 95.00 88 7.3139 1.378070
Remaining Stated Term (Fully Amortizing Loans)
Remaining # of Scheduled % of Weighted
Stated Term Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
120 months or less 1 45,157,334.31 4.76 71 6.7000 1.760000
120 to 192 months 1 651,765.72 0.07 180 7.5000 1.970000
193 to 264 months 1 1,640,115.23 0.17 208 7.5300 1.840000
265 to 336 months 0 0.00 0.00 0 0.0000 0.000000
337 months or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 3 47,449,215.26 5.00 77 6.7397 1.765650
Remaining Amortization Term (ARD and Balloon Loans)
Remaining # of Scheduled % of Weighted
Amortization Term Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
Interest Only 6 68,135,323.62 7.17 90 7.1224 1.533198
120 months or less 1 1,016,321.10 0.11 94 7.8750 1.760000
120 to 192 months 0 0.00 0.00 0 0.0000 0.000000
193 to 264 months 12 45,289,153.91 4.77 92 7.8343 1.333559
265 to 336 months 114 787,748,504.04 82.95 87 7.2998 1.366719
337 months or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 133 902,189,302.67 95.00 88 7.3139 1.378070
Age of Most Recent NOI
Age of Most # of Scheduled % of Weighted
Recent NOI Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
Underwriter's Information 4 12,250,220.83 1.29 70 7.5338 1.306873
1 year or less 130 921,779,345.65 97.07 88 7.2836 1.404328
1 to 2 years 2 15,608,951.45 1.64 55 7.1862 1.061486
2 years or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 136 949,638,517.93 100.00 87 7.2852 1.397436
<FN>
(1)The Trustee makes no representations as to the accuracy of the data provided
by the borrower for this calculation. "NAP" means not applicable and relates to
the omission of credit lease loans in the calculation of DSCR.
(2)Anticipated Remaining Term and WAM are each calculated based upon the term
from the current month to the earlier of the Anticipated Repayment Date, if
applicable, and the maturity date.
(3)Data in this table was calculated by allocating pro-rata the current loan
information to the properties based upon the Cut-off Date Balance of the related
mortgage loan as disclosed in the offering document.
</FN>
Mortgage Loan Detail
Loan Property Interest Principal Gross
Number ODCR Type(1) City State Payment Payment Coupon
<s> <c> <c> <c> <c> <c> <c> <c>
502717405 1 OF Detroit MI 252,128.45 0.00 6.700%
510000176 2 OF Little Falls NJ 210,737.83 30,998.47 7.375%
265950581 3 RT Orland Park IL 210,039.17 29,092.22 7.560%
502708001 4 OF Berwyn PA 159,919.16 27,305.55 6.875%
502709418 5 RT Sturbridge MA 130,596.68 21,092.29 7.000%
510000202 6 Various Various NJ 126,014.34 20,352.21 7.000%
502709417 7 RT Augusta ME 111,809.09 18,057.96 7.000%
502694905 8 MF Yorktown VA 102,828.68 16,925.77 7.000%
502700407 9 MF Summerlin NV 102,215.74 16,342.71 7.067%
502705804 10 OF Durham NC 109,927.33 13,145.54 7.530%
502713101 11 MF Pasedena CA 95,942.74 15,495.43 7.000%
502709419 12 RT Lisbon CT 95,770.90 15,467.68 7.000%
502707905 13 MF Richmond VA 92,911.63 14,585.49 7.160%
528000014 14 OF Troy MI 106,326.94 12,166.31 8.350%
502682901 15 RT Marlton NJ 87,967.94 13,647.28 7.180%
265950628 16 MF Carrboro NC 84,687.79 14,521.16 6.990%
502700406 17 MF Henderson NV 83,169.49 13,293.57 7.068%
510000190 18 RT Redmond WA 75,194.94 12,292.34 7.000%
265950625 19 MF Fredericksburg VA 73,080.84 12,530.95 6.990%
502715603 20 OF Dallas TX 77,845.01 16,294.76 7.625%
510000177 21 RT Wethersfield CT 77,016.80 10,632.94 7.570%
502710308 22 RT Santa Ana CA 68,500.00 0.00 6.850%
528000023 23 OF Clearfield UT 83,102.43 9,507.68 8.450%
510000173 24 IN Antioch CA 74,715.60 10,211.39 7.624%
628000025 25 MF Oviedo FL 73,950.18 10,613.90 7.580%
502701001 26 MF Midlothian VA 65,435.36 24,667.50 7.250%
502696703 27 MF Chicago IL 56,844.58 10,098.01 6.770%
502694601 28 MF Las Vegas NV 58,355.03 11,265.03 7.125%
510000199 29 RT Modesto CA 59,331.44 8,886.19 7.250%
502700901 30 OF Washington DC 59,833.47 8,114.73 7.625%
528000031 31 MF Cecil Township PA 53,544.76 9,360.13 6.850%
510000198 32 MF New York NY 51,487.75 9,535.29 6.610%
510000178 33 MF Hollis NY 55,643.36 8,481.21 7.250%
510000201 34 IN San Diego CA 56,503.11 7,927.41 7.450%
502704402 35 MF Reno NV 50,990.22 7,676.94 7.250%
265950627 36 MF Virginia Beach VA 48,577.26 8,329.40 6.990%
510000170 37 OF Placentia CA 50,482.15 7,482.12 7.390%
265950659 38 MF Azusa CA 50,439.52 7,175.76 7.500%
528000039 39 MF Mount Lebanon PA 48,540.86 7,013.34 7.430%
510000180 40 MF Colorado Springs CO 46,815.20 6,850.26 7.375%
510000192 41 OF Federal Way WA 44,173.45 7,221.16 7.000%
502693202 42 OF Henderson NV 45,987.85 6,401.89 7.490%
502676401 43 RT Dalton GA 44,147.01 6,585.24 7.300%
510000183 44 MF Athens GA 43,242.31 6,556.56 7.250%
528000045 45 IN Los Angeles CA 43,241.70 14,625.49 7.650%
502683801 46 RT Loxahatchee FL 44,025.85 5,821.02 7.688%
510000181 47 RT Santa Fe NM 44,170.77 5,595.86 7.820%
510000197 48 RT Hyde Park NY 41,296.65 8,954.75 7.500%
510000175 49 RT Davison MI 41,356.16 5,840.82 7.500%
502700408 50 OF Rancho Cucamonga CA 36,561.31 6,018.05 7.000%
502708301 51 OF Kensington MD 36,039.52 9,017.65 7.000%
510000206 52 RT Houston TX 37,539.28 8,522.73 7.290%
510000210 53 MF Parkersburg WV 35,689.70 5,783.28 6.990%
628000054 54 RT Manteca CA 38,000.41 5,444.00 7.440%
510000209 55 MF South Charleston WV 35,552.43 5,761.03 6.990%
628000056 56 RT San Diego CA 37,680.06 5,321.63 7.500%
502704503 57 MU Palm Beach FL 35,541.63 5,388.95 7.250%
510000184 58 RT Beekman NY 36,236.82 7,985.63 7.470%
510000200 59 SS Los Angeles CA 35,230.51 7,259.64 7.290%
628000060 60 MF Glendale CA 33,745.39 5,349.86 7.130%
528000061 61 RT Pleasant Hill CA 37,996.29 8,128.05 8.250%
502681201 62 RT South Gate CA 34,070.62 4,855.57 7.440%
502693511 63 RT Buffalo Grove IL 31,705.28 4,823.02 7.240%
528000064 64 MF Fargo ND 29,588.40 4,486.31 7.250%
510000171 65 RT Plantation FL 30,162.95 4,456.04 7.400%
502695901 66 IN Bedford Park IL 29,737.13 10,542.53 7.500%
528000067 67 OF Troy MI 33,661.86 6,308.07 8.350%
502664903 68 MF Blacksburg VA 27,999.46 4,339.03 7.125%
502684301 69 RT North Lauderdale FL 28,068.74 4,383.22 7.160%
502699109 70 OF San Diego CA 29,693.22 4,099.45 7.570%
628000071 71 OF San Diego CA 27,207.64 4,394.23 7.000%
528000072 72 OF Troy MI 31,842.05 5,967.05 8.350%
528000073 73 MF Cottonwood AZ 27,021.11 4,259.74 7.110%
528000074 74 RT Van Nuys CA 30,080.11 3,898.05 7.900%
510000203 75 SS Farmingdale NY 26,460.64 6,345.24 7.100%
502707510 76 MF Roanoke VA 26,976.84 4,185.16 7.180%
502701003 77 MF Tampa FL 29,157.21 3,797.75 7.750%
502697001 78 IN Houston TX 26,656.22 4,041.71 7.250%
510000205 79 MF Various CA 23,070.12 4,390.18 6.510%
628000080 80 MF Glendale CA 24,436.32 3,874.03 7.130%
502675902 81 MF Harrisonburg VA 26,621.80 3,467.51 7.750%
502700409 82 MU Los Angeles CA 26,295.10 3,348.50 7.820%
502705801 83 MF Tallahassee FL 24,739.77 5,505.55 7.480%
510000194 84 OF Gaithersburg MD 24,560.64 3,407.94 7.500%
628000085 85 MF Fayetteville AR 22,872.99 3,739.11 7.000%
502702614 86 MF El Cajon CA 22,850.82 3,761.28 7.000%
502709701 87 MF Panama City FL 22,580.76 3,630.86 7.050%
502706203 88 RT Greenville NC 24,884.54 3,190.88 7.880%
528000089 89 IN Rancho Cordova CA 21,469.47 3,395.72 7.100%
502694903 90 RT West Palm Beach FL 22,039.62 4,114.31 7.770%
510000185 91 RT West Jordan UT 21,631.12 6,533.33 8.170%
502701701 92 IN Houston TX 20,609.67 2,781.58 7.640%
510000186 93 OF Coral Gables FL 19,936.31 2,510.63 7.375%
528000094 94 MF Grand Rapids MI 18,541.20 2,942.25 7.090%
528000095 95 IN Brea CA 19,375.06 2,802.93 7.410%
528000096 96 RT Englewood CO 18,772.70 2,691.08 7.400%
502692006 97 RT Plano TX 18,374.07 2,707.24 7.300%
502708803 98 RT Odessa TX 18,432.13 2,544.31 7.500%
502707505 99 MF Provo UT 17,167.34 2,791.74 7.000%
502695608 100 RT Huntington IN 18,265.97 2,554.73 7.530%
502689301 101 OF Havertown PA 17,447.77 2,552.17 7.360%
502672306 102 RT Abilene TX 16,818.68 2,638.31 7.125%
502706201 103 RT Lynchburg VA 18,925.07 2,123.27 8.470%
628000104 104 RT Vacaville CA 15,988.46 2,191.12 7.500%
502703401 105 RT Cypress CA 15,964.42 2,215.16 7.500%
510000193 106 MF Waterbury CT 15,381.50 2,204.95 7.400%
502713603 107 MF Lebanon PA 15,971.63 2,370,524.22 8.000%
265950568 108 RT Kewanee IL 15,635.51 2,063.01 7.710%
528000109 109 MF Atwater CA 14,009.70 2,290.22 7.000%
502698105 110 MU McAllen TX 14,620.66 2,128.21 7.375%
502695609 111 RT Casa Grande AZ 14,506.96 2,028.98 7.530%
265950602 112 RT Palm Desert CA 14,655.83 1,977.32 7.625%
502711512 113 MF Pine Bluff AR 12,610.25 2,148.10 6.860%
502704601 114 MF Homestead FL 13,396.09 3,012.30 7.350%
502682401 115 IN Las Vegas NV 12,252.56 1,718.04 7.490%
502702501 116 SS Hesperia CA 12,129.39 2,650.43 7.500%
528000117 117 OF Juneau AK 12,058.18 1,530.37 7.870%
528000118 118 MF Atlanta GA 10,451.80 2,398.96 7.300%
528000119 119 RT Moreno Valley CA 10,316.40 3,932.13 7.530%
502711509 120 MF Baltimore MD 9,730.36 1,457.33 7.250%
528000121 121 RT Summersville WV 11,027.84 1,255.37 8.250%
528000122 122 MF Charlotte NC 9,425.72 2,201.12 7.310%
528000123 123 MF Carlsbad CA 8,577.57 1,211.44 7.500%
502711508 124 MU Baltimore MD 8,263.43 1,252.93 7.250%
528000125 125 OF Troy MI 9,107.29 1,706.67 8.350%
528000126 126 MF Fernley NV 8,755.57 1,152.18 8.200%
528000127 127 MF St. Cloud MN 6,982.77 1,788.28 6.920%
502695001 128 RT Houston TX 6,720.53 7,759.64 7.875%
528000129 129 IN Tucson AZ 7,715.03 1,545.09 8.500%
528000130 130 MF Oklahoma City OK 6,226.50 1,830.99 7.400%
265950478 131 MF Lee`s Summit MO 6,489.89 1,259.15 8.000%
501711510 132 MF Baltimore MD 5,600.89 838.85 7.250%
265950586 133 MF Lakewood NJ 5,924.10 611.67 8.500%
502711507 134 MF Baltimore MD 5,023.22 761.64 7.250%
528000135 135 IN Fresno CA 5,369.32 1,219.30 8.050%
528000136 136 OF Los Angeles CA 4,253.79 1,238.84 7.550%
528000137 137 OF Smithtown NY 4,085.76 1,956.19 7.500%
Totals 5,786,716.31 3,270,262.02
Loan Anticipated Neg Beginning Ending Paid
Number Repayment Maturity Amort Scheduled Scheduled Thru
Date Date (Y/N) Balance Balance Date
<s> <c> <c> <c> <c> <c> <c>
502717405 N/A 11/01/2009 N 45,157,334.31 45,157,334.31 12/01/2003
510000176 N/A 07/01/2011 N 34,289,544.73 34,258,546.26 12/01/2003
265950581 N/A 07/01/2011 N 33,339,551.17 33,310,458.95 12/01/2003
502708001 N/A 12/01/2011 N 27,913,162.27 27,885,856.72 12/01/2003
502709418 N/A 12/01/2011 N 22,388,002.84 22,366,910.55 12/01/2003
510000202 N/A 12/01/2011 N 21,602,458.89 21,582,106.68 11/01/2003
502709417 N/A 12/01/2011 N 19,167,272.54 19,149,214.58 12/01/2003
502694905 N/A 09/01/2011 N 17,627,774.57 17,610,848.80 12/01/2003
502700407 N/A 10/01/2011 N 17,356,079.57 17,339,736.86 12/01/2003
502705804 N/A 08/01/2011 N 17,518,299.21 17,505,153.67 11/01/2003
502713101 N/A 12/01/2011 N 16,447,326.62 16,431,831.19 12/01/2003
502709419 N/A 12/01/2011 N 16,417,868.67 16,402,400.99 12/01/2003
502707905 N/A 08/01/2011 N 15,571,782.18 15,557,196.69 12/01/2003
528000014 N/A 10/01/2010 N 15,280,518.94 15,268,352.63 12/01/2003
502682901 N/A 09/01/2011 N 14,702,162.63 14,688,515.35 12/01/2003
265950628 N/A 04/01/2011 N 14,538,677.15 14,524,155.99 12/01/2003
502700406 N/A 10/01/2011 N 14,120,257.62 14,106,964.05 12/01/2003
510000190 N/A 10/01/2011 N 12,890,561.13 12,878,268.79 12/01/2003
265950625 N/A 04/01/2011 N 12,546,066.46 12,533,535.51 12/01/2003
502715603 10/01/2006 10/01/2011 N 12,251,017.73 12,234,722.97 12/01/2003
510000177 N/A 07/01/2011 N 12,208,739.28 12,198,106.34 12/01/2003
502710308 N/A 11/01/2011 N 12,000,000.00 12,000,000.00 12/01/2003
528000023 N/A 05/01/2010 N 11,801,528.88 11,792,021.20 12/01/2003
510000173 N/A 06/01/2008 N 11,760,063.34 11,749,851.95 12/01/2003
628000025 N/A 01/01/2011 N 11,707,152.35 11,696,538.45 12/01/2003
502701001 N/A 09/01/2011 N 10,830,680.69 10,806,013.19 12/01/2003
502696703 N/A 09/01/2011 N 10,075,847.99 10,065,749.98 12/01/2003
502694601 N/A 08/01/2006 N 9,828,215.41 9,816,950.38 07/01/2003
510000199 11/01/2011 11/01/2031 N 9,820,376.10 9,811,489.91 12/01/2003
502700901 N/A 07/01/2011 N 9,416,415.63 9,408,300.90 12/01/2003
528000031 N/A 07/01/2006 N 9,380,103.92 9,370,743.79 12/01/2003
510000198 N/A 11/01/2011 N 9,347,245.74 9,337,710.45 12/01/2003
510000178 N/A 08/01/2008 N 9,209,935.53 9,201,454.32 12/01/2003
510000201 N/A 11/01/2011 N 9,101,171.99 9,093,244.58 12/01/2003
502704402 N/A 10/01/2011 N 8,439,761.00 8,432,084.06 12/01/2003
265950627 N/A 04/01/2011 N 8,339,444.19 8,331,114.79 12/01/2003
510000170 N/A 05/01/2008 N 8,197,372.04 8,189,889.92 12/01/2003
265950659 N/A 06/01/2011 N 8,070,323.31 8,063,147.55 12/01/2003
528000039 N/A 07/01/2011 N 7,839,707.56 7,832,694.22 12/01/2003
510000180 N/A 08/01/2011 N 7,617,389.20 7,610,538.94 12/01/2003
510000192 N/A 10/01/2011 N 7,572,592.23 7,565,371.07 12/01/2003
502693202 N/A 10/01/2011 N 7,367,880.59 7,361,478.70 12/01/2003
502676401 N/A 09/01/2011 N 7,257,042.40 7,250,457.16 11/01/2003
510000183 N/A 09/01/2011 N 7,157,348.32 7,150,791.76 12/01/2003
528000045 N/A 02/01/2011 N 6,783,012.27 6,768,386.78 12/01/2003
502683801 N/A 08/01/2011 N 6,872,327.09 6,866,506.07 12/01/2003
510000181 N/A 08/01/2011 N 6,778,123.19 6,772,527.33 12/01/2003
510000197 10/01/2011 10/01/2026 N 6,607,464.49 6,598,509.74 12/01/2003
510000175 N/A 07/01/2011 N 6,616,985.58 6,611,144.76 12/01/2003
502700408 N/A 09/01/2011 N 6,267,653.18 6,261,635.13 12/01/2003
502708301 N/A 10/01/2011 N 6,178,203.53 6,169,185.88 12/01/2003
510000206 N/A 12/01/2011 N 6,179,304.70 6,170,781.97 12/01/2003
510000210 N/A 12/01/2011 N 6,126,987.11 6,121,203.83 12/01/2003
628000054 N/A 08/01/2011 N 6,129,098.79 6,123,654.79 12/01/2003
510000209 N/A 12/01/2011 N 6,103,421.95 6,097,660.92 12/01/2003
628000056 N/A 07/01/2011 N 6,028,809.16 6,023,487.53 12/01/2003
502704503 N/A 09/01/2011 N 5,882,752.00 5,877,363.05 12/01/2003
510000184 09/01/2011 09/01/2026 N 5,821,175.46 5,813,189.83 12/01/2003
510000200 N/A 11/01/2011 N 5,799,260.71 5,792,001.07 12/01/2003
628000060 N/A 08/01/2006 N 5,679,447.95 5,674,098.09 12/01/2003
528000061 N/A 08/01/2009 N 5,526,733.18 5,518,605.13 12/01/2003
502681201 N/A 09/01/2011 N 5,495,261.05 5,490,405.48 12/01/2003
502693511 N/A 09/01/2011 N 5,255,018.74 5,250,195.72 12/01/2003
528000064 N/A 09/01/2011 N 4,897,390.97 4,892,904.66 12/01/2003
510000171 N/A 05/01/2011 N 4,891,289.87 4,886,833.83 12/01/2003
502695901 N/A 09/01/2011 N 4,757,941.30 4,747,398.77 12/01/2003
528000067 N/A 10/01/2010 N 4,837,632.92 4,831,324.85 12/01/2003
502664903 N/A 12/01/2011 N 4,715,698.61 4,711,359.58 12/01/2003
502684301 N/A 09/01/2011 N 4,704,257.91 4,699,874.69 12/01/2003
502699109 N/A 07/01/2011 N 4,706,983.84 4,702,884.39 12/01/2003
628000071 N/A 12/01/2011 N 4,664,167.22 4,659,772.99 12/01/2003
528000072 N/A 10/01/2010 N 4,576,102.82 4,570,135.77 12/01/2003
528000073 N/A 10/01/2011 N 4,560,525.58 4,556,265.84 12/01/2003
528000074 N/A 01/01/2011 N 4,569,130.57 4,565,232.52 12/01/2003
510000203 N/A 12/01/2011 N 4,472,220.22 4,465,874.98 12/01/2003
502707510 N/A 09/01/2011 N 4,508,663.24 4,504,478.08 11/01/2003
502701003 N/A 07/01/2006 N 4,514,664.62 4,510,866.87 11/01/2003
502697001 N/A 09/01/2011 N 4,412,064.15 4,408,022.44 12/01/2003
510000205 N/A 12/01/2011 N 4,252,557.07 4,248,166.89 12/01/2003
628000080 N/A 08/01/2006 N 4,112,703.80 4,108,829.77 12/01/2003
502675902 N/A 07/01/2011 N 4,122,085.15 4,118,617.64 12/01/2003
502700409 N/A 07/01/2011 N 4,035,053.34 4,031,704.84 12/01/2003
502705801 N/A 07/01/2011 N 3,968,946.56 3,963,441.01 12/01/2003
510000194 N/A 10/01/2011 N 3,929,702.65 3,926,294.71 12/01/2003
628000085 N/A 10/01/2011 N 3,921,083.22 3,917,344.11 12/01/2003
502702614 N/A 09/01/2011 N 3,917,283.26 3,913,521.98 12/01/2003
502709701 N/A 10/01/2011 N 3,843,533.82 3,839,902.96 12/01/2003
502706203 N/A 03/01/2011 N 3,789,524.48 3,786,333.60 11/01/2003
528000089 N/A 10/01/2011 N 3,628,642.39 3,625,246.67 12/01/2003
502694903 N/A 07/01/2011 N 3,403,802.35 3,399,688.04 12/01/2003
510000185 N/A 09/01/2021 N 3,177,154.03 3,170,620.70 09/01/2003
502701701 07/01/2011 07/01/2021 N 3,237,121.39 3,234,339.81 12/01/2003
510000186 N/A 08/01/2011 N 3,243,874.29 3,241,363.66 12/01/2003
528000094 N/A 10/01/2011 N 3,138,144.47 3,135,202.22 12/01/2003
528000095 N/A 08/01/2011 N 3,137,661.18 3,134,858.25 12/01/2003
528000096 N/A 10/01/2011 N 3,044,221.51 3,041,530.43 12/01/2003
502692006 N/A 11/01/2011 N 3,020,395.33 3,017,688.09 12/01/2003
502708803 N/A 11/01/2011 N 2,949,140.46 2,946,596.15 12/01/2003
502707505 N/A 11/01/2011 N 2,942,973.21 2,940,181.47 12/01/2003
502695608 N/A 07/01/2011 N 2,910,911.33 2,908,356.60 12/01/2003
502689301 N/A 09/01/2008 N 2,844,745.08 2,842,192.91 11/01/2003
502672306 N/A 10/01/2011 N 2,832,619.97 2,829,981.66 12/01/2003
502706201 N/A 07/01/2010 N 2,681,237.47 2,679,114.20 12/01/2003
628000104 N/A 12/01/2011 N 2,558,153.28 2,555,962.16 12/01/2003
502703401 N/A 10/01/2011 N 2,554,306.66 2,552,091.50 12/01/2003
510000193 N/A 10/01/2011 N 2,494,297.67 2,492,092.72 11/01/2003
502713603 N/A 11/01/2011 N 2,395,744.82 0.00 10/01/2003
265950568 N/A 07/01/2011 N 2,433,541.77 2,431,478.76 12/01/2003
528000109 N/A 10/01/2008 N 2,401,663.26 2,399,373.04 12/01/2003
502698105 N/A 09/01/2011 N 2,378,955.42 2,376,827.21 12/01/2003
502695609 N/A 07/01/2011 N 2,311,865.62 2,309,836.64 12/01/2003
265950602 N/A 08/01/2011 N 2,306,491.28 2,304,513.96 12/01/2003
502711512 N/A 11/01/2011 N 2,205,874.10 2,203,726.00 12/01/2003
502704601 N/A 11/01/2011 N 2,187,116.62 2,184,104.32 12/01/2003
502682401 N/A 09/01/2011 N 1,963,026.55 1,961,308.51 12/01/2003
502702501 N/A 09/01/2011 N 1,940,701.85 1,938,051.42 12/01/2003
528000117 N/A 05/01/2011 N 1,838,603.99 1,837,073.62 12/01/2003
528000118 N/A 10/01/2011 N 1,718,104.42 1,715,705.46 12/01/2003
528000119 N/A 04/01/2021 N 1,644,047.36 1,640,115.23 12/01/2003
502711509 N/A 11/01/2011 N 1,610,541.71 1,609,084.38 12/01/2003
528000121 N/A 03/01/2011 N 1,604,050.15 1,602,794.78 12/01/2003
528000122 N/A 07/01/2011 N 1,547,314.40 1,545,113.28 12/01/2003
528000123 N/A 07/01/2011 N 1,372,411.62 1,371,200.18 12/01/2003
502711508 N/A 09/01/2011 N 1,367,739.86 1,366,486.93 12/01/2003
528000125 N/A 10/01/2010 N 1,308,832.71 1,307,126.04 12/01/2003
528000126 N/A 08/01/2009 N 1,281,303.56 1,280,151.38 12/01/2003
528000127 N/A 10/01/2011 N 1,210,884.66 1,209,096.38 12/01/2003
502695001 N/A 10/01/2011 N 1,024,080.74 1,016,321.10 12/01/2003
528000129 N/A 08/01/2009 N 1,089,180.16 1,087,635.07 12/01/2003
528000130 N/A 08/01/2008 N 1,009,702.23 1,007,871.24 12/01/2003
265950478 N/A 06/01/2011 N 973,483.35 972,224.20 12/01/2003
501711510 N/A 11/01/2011 N 927,043.64 926,204.79 12/01/2003
265950586 N/A 06/01/2011 N 836,343.15 835,731.48 11/01/2003
502711507 N/A 09/01/2011 N 831,428.82 830,667.18 12/01/2003
528000135 N/A 07/01/2009 N 800,395.27 799,175.97 12/01/2003
528000136 N/A 04/01/2008 N 676,099.24 674,860.40 12/01/2003
528000137 N/A 12/01/2018 N 653,721.91 651,765.72 12/01/2003
Totals 952,934,000.55 949,638,517.93
Appraisal Appraisal Res Mod
Loan Number Reduction Reduction Strat. Code
Date Amount (2) (3)
502694601 5/12/2003 926,003.39 2
502701003 2
510000185 2
502713603 11
265950586 1
Totals 926,003.39
(1) Property Type Code
SS- Self Storage
MF- Multi-Family
RT- Retail
HC- Health Care
IN- Industrial
WH- Warehouse
MH- Mobile Home Park
OF- Office
LO- Lodging
MU- Mixed Use
OT- Other
IW- Industrial/Warehouse
(2) Resolution Strategy Code
1- Modification
2- Foreclosure
3- Bankruptcy
4- Extension
5- Note Sale
6- DPO
7- REO
8- Resolved
9- Pending Return to Master Servicer
10- Deed In Lieu of Foreclosure
11- Full Payoff
12- Reps and Warranties
13- Other or TBD
(3) Modification Code
1- Maturity Date Extension
2- Amortization Change
3- Principal Write-Off
4- Combination
<Table>
<caption>
Principal Prepayment Detail
Loan Number Offering Document Principal Prepayment Amount Prepayment Penalties
Cross-Reference Payoff Amount Curtailment amount Prepayment Premium Yield Maintenance Premium
<s> <c> <c> <c> <c> <c>
502713603 107 2,365,584.85 0.00 0.00 483,855.42
Totals 2,365,584.85 0.00 0.00 483,855.42
</Table>
Historical Detail
Delinquencies
Distribution 30-59 Days 60-89 Days 90 Days or More Foreclosure REO Modifications
Date # Balance # Balance # Balance # Balance # Balance # Balance
12/12/2003 0 $0.00 1 $3,170,620.70 1 $9,816,950.38 0 $0.00 0 $0.00 0 $0.00
11/17/2003 0 $0.00 0 $0.00 2 $12,223,960.23 0 $0.00 0 $0.00 0 $0.00
10/15/2003 0 0.00 1 $9,837,478.44 1 2,400,121.65 0 $0.00 0 $0.00 0 $0.00
09/12/2003 0 0.00 1 $9,848,622.31 1 2,404,999.32 0 $0.00 0 $0.00 0 $0.00
08/14/2003 1 $9,857,760.90 0 0.00 1 2,409,312.83.00 0 $0.00 0 $0.00 0 $0.00
07/14/2003 0 $0.00 1 $2,413,596.83 0 $0.00 0 $0.00 0 $0.00 0 $0.00
06/13/2003 0 $0.00 0 $0.00 1 $2,418,385.26 0 $0.00 0 $0.00 0 $0.00
05/14/2003 1 $4,533,134.49 0 $0.00 1 $2,422,607.19 0 $0.00 0 $0.00 0 $0.00
04/14/2003 0 $0.00 0 $0.00 1 $2,427,335.95 0 $0.00 0 $0.00 0 $0.00
03/14/2003 0 $0.00 1 $9,906,467.53 1 $2,431,496.64 0 $0.00 0 $0.00 0 $0.00
02/14/2003 0 $0.00 1 $9,921,108.12 1 $2,437,242.58 0 $0.00 0 $0.00 0 $0.00
01/14/2003 0 $0.00 0 $0.00 2 $12,371,140.18 0 $0.00 0 $0.00 0 $0.00
Prepayments
Distribution Curtailments Payoff
Date # Amount # Amount
12/12/2003 0 $0.00 1 $2,365,584.85
11/17/2003 0 $0.00 0 $0.00
10/15/2003 0 $0.00 0 $0.00
09/12/2003 0 $0.00 0 $0.00
08/14/2003 0 $0.00 0 $0.00
07/14/2003 0 $0.00 0 $0.00
06/13/2003 0 $0.00 0 $0.00
05/14/2003 0 $0.00 0 $0.00
04/14/2003 0 $0.00 0 $0.00
03/14/2003 0 $0.00 0 $0.00
02/14/2003 0 $0.00 0 $0.00
01/14/2003 0 $0.00 0 $0.00
Rate and Maturities
Distribution Next Weighted Avg. WAM
Date Coupon Remit
12/12/2003 7.285194% 7.214594% 87
11/17/2003 7.287031% 7.215224% 88
10/15/2003 7.285648% 7.213553% 89
09/12/2003 7.285691% 7.213598% 90
08/14/2003 7.285720% 7.213629% 91
07/14/2003 7,285746% 7,213657% 92
06/13/2003 7.285784% 7.214135% 93
05/14/2003 7.285810% 7.218197% 94
04/14/2003 7.284544% 7.216657% 95
03/14/2003 7.284570% 7.216686% 96
02/14/2003 7.284632% 7.216754% 97
01/14/2003 7.284657% 7.216782% 98
<FN>
Note: Foreclosure and REO Totals are excluded from the delinquencies aging
categories.
</FN>
Delinquency Loan Detail
Offering # of Paid Current Outstanding Status of
Loan Number Document Months Through P & I P & I Mortgage
Cross-Reference Delinq. Date Advances Advances** Loan(1)
<s> <c> <c> <c> <c> <c> <c>
510000202 6 0 11/01/2003 145,466.45 145,466.45 B
502705804 10 0 11/01/2003 122,342.95 122,342.95 B
502694601 28 4 07/01/2003 62,651.03 379,298.41 3
502676401 43 0 11/01/2003 50,429.87 50,429.87 B
502707510 76 0 11/01/2003 30,974.14 30,974.14 B
502701003 77 0 11/01/2003 32,766.84 32,766.84 B
502706203 88 0 11/01/2003 27,917.52 27,917.52 B
510000185 91 2 09/01/2003 28,032.07 84,095.45 2
502689301 101 0 11/01/2003 19,881.40 19,881.40 B
510000193 106 0 11/01/2003 17,482.53 17,482.53 B
265950586 133 0 11/01/2003 6,500.93 6,500.93 B
Totals 11 544,445.73 917,156.49
Resolution Actual Outstanding
Loan Number Strategy Servicing Foreclosure Principal Servicing Bankruptcy REO
Code(2) Transfer Date Date Balance Advances Date Date
<s> <c> <c> <c> <c> <c> <c> <c>
510000202 21,602,458.89 0.00
502705804 17,518,299.21 0.00
502694601 2 10/04/2002 9,859,113.10 12,350.27
502676401 7,257,042.40 0.00
502707510 2 05/30/2003 4,508,663.24 0.00
502701003 4,514,664.62 61,809.33
502706203 2 04/18/2003 3,789,524.48 0.00
510000185 3,189,375.83 14,111.49
502689301 1 06/26/2003 2,844,745.08 0.00
510000193 2,494,297.67 0.00
265950586 836,343.15 420.00
Totals 78,414,527.67 88,691.09
Current Outstanding Actual Outstanding
P & I P & I Principal Servicing
Advances Advances Balance Advances
Totals by Delinquency Code:
Total for Status Code = 2 (1 Loan) 28,032.07 84,095.45 3,189,375.83 14,111.49
Total for Status Code = 3 (1 Loan) 62,651.03 379,298.41 9,859,113.10 12,350.27
Total for Status Code = B (9 Loans) 453,762.63 453,762.63 65,366,038.74 62,229.33
(1) Status of Mortgage Loan
A- Payment Not Received But Still in Grace Period
B- Late Payment But Less Than 1 Month Delinquent
0- Current
1- One Month Delinquent
2- Two Months Delinquent
3- Three Or More Months Delinquent
4- Assumed Scheduled Payment (Performing Matured Balloon)
7- Foreclosure
9- REO
(2) Resolution Strategy Code
1- Modification
2- Foreclosure
3- Bankruptcy
4- Extension
5- Note Sale
6- DPO
7- REO
8- Resolved
9- Pending Return to Master Servicer
10- Deed In Lieu Of Foreclosure
11- Full Payoff
12- Reps and Warranties
13- Other or TBD
**Outstanding P & I Advances include the current period advance.
Specially Serviced Loan Detail - Part 1
Offering Servicing Resolution
Loan Document Transfer Strategy Scheduled Property State Interest Actual
Number Cross-Reference Date Code (1) Balance Type (2) Rate Balance
<c>
502694601 28 10/04/2002 2 9,816,950.38 MF NV 7.125% 9,859,113.10
502701003 77 05/30/2003 2 4,510,866.87 MF FL 7.750% 4,514,664.62
510000185 91 04/18/2003 2 3,170,620.70 RT UT 8.170% 3,189,375.83
502713603 107 12/27/2002 11 0.00 MF PA 8.000% 0.00
265950586 133 06/26/2003 1 835,731.48 MF NJ 8.500% 836,343.15
Net Remaining
Loan Operating DSCR DSCR Note Maturity Amortization
Number Income Date Date Date Term
502694601 803,246.00 12/31/2001 0.99 09/01/2001 08/01/2006 331
502701003 1.21 08/01/2001 07/01/2006 330
510000185 421,072.80 12/31/2002 1.25 10/01/2001 09/01/2021 212
502713603 1.29 12/01/2001 11/01/2011 214
265950586 1.29 07/01/2001 06/01/2011 329
<fn>
(1) Resolution Strategy Code
1- Modification
2- Foreclosure
3- Bankruptcy
4- Extension
5- Note Sale
6- DPO
7- REO
8- Resolved
9- Pending Return to Master Servicer
10- Deed in Lieu of Foreclosure
11- Full Payoff
12- Reps and Warranties
13- Other or TBD
(2) Property Type Code
MF- Multi-Family
RT- Retail
HC- Health Care
IN- Industrial
WH- Warehouse
MH- Mobile Home Park
OF- Office
MU- Mixed Use
LO- Lodging
SS- Self Storage
OT- Other
</fn>
Specially Serviced Loan Detail - Part 2
Offering Resolution Site
Loan Document Strategy Inspection Phase 1 Date Appraisal Appraisal Other REO
Number Cross-Reference Code (1) Date Date Value Property Revenue
502694601 28 2 01/13/2003 20,500,000.00
502701003 77 2 6,100,000.00
510000185 91 2 5,325,000.00
502713603 107 11 4,600,000.00
265950586 133 1
Comments from Special Servicer
Loan
Number
502694601 Foreclosure sale has been set for 12/2/03.
502701003 The Borrower has failed to comply with all requests for information and continues to make
only the principal and interest portions of the payment. Lender's legal counsel is prepared to
file for foreclosure and the appointment of the receiver. Filing has not yet occurred due to
being informed by the borrower and confirming that they are in the process of working to
repair the structural damage to the collateral as well as cure the liens place on the property
by the City of Tampa. Lender is monitoring th e situation for progress. The borrower has
also indicated they are willing to discuss a workout. Lender is waiting on receipt of this
proposal.
510000185 Fleming's Lease was rejected as of 9/30/03. Proof of claim filed. Moving forward with a
foreclosure while simultaneously trying to document a deed-in-lieu.
502713603 No Comments.
265950586 Borrower is now selling the property. An assumption will be processed.
<fn>
(1) Resolution Strategy Code
1 - Modification 6 - DPO 10 - Deed in Lieu Of
2 - Foreclosure 7 - REO Foreclosure
3 - Bankruptcy 8 - Resolved 11 - Full Payoff
4 - Extension 9 - Pending Return 12 - Reps and Warranties
5 - Note Sale to Master Servicer 13 - Other or TBD
</fn>
Modified Loan Detail
No Modified Loans
Liquidated Loan Detail
No Liquidated Loans