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.: 333-53266-02
First Union Commercial Mortgage Securities, Inc.
Commercial Mortgage Pass-Through Certificates
Series 2001-C2
(Exact name of registrant as specified in its charter)
New York (governing law of Pooling and Servicing Agreement)
(State of Incorporation)
52-2316405
52-2316406
52-7184008
52-2316404
(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-C2.
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-C2, 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-C2
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-C2, relating to the
December 12, 2003 distribution.
EX-99.1
Wells Fargo Bank Minnesota, N.A.
Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
First Union Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates
Series 2001-C2
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 - 14
Principal Prepayment Detail 15
Historical Detail 16
Delinquency Loan Detail 17
Specially Serviced Loan Detail 18 - 19
Modified Loan Detail 20
Liquidated Loan Detail 21
Underwriter
First Union Securities, Inc
201 South College Street
Charlotte, NC 28288
Contact: William J. Cohane
Phone Number: (704) 383-4984
Underwriter
Merrill Lynch, Pierce, Fenner & Smith Inc.
World Financial Center, North Tower
250 Vesey Street
New York, NY 10281
Contact: John E. Gluszak
Phone Number: (212) 449-1000
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 33736XBY4 6.204000% 190,553,000.00 166,078,272.37 1,011,208.07
A-2 33736XBZ1 6.663000% 590,647,000.00 590,647,000.00 0.00
B 33736XCA5 6.819000% 42,565,000.00 42,565,000.00 0.00
C 33736XCB3 6.922000% 12,520,000.00 12,520,000.00 0.00
D 33736XCC1 6.951000% 12,519,000.00 12,519,000.00 0.00
E 33736XCD9 7.003000% 20,031,000.00 20,031,000.00 0.00
F 33736XCE7 7.123000% 10,015,000.00 10,015,000.00 0.00
G 33736XCF4 7.388000% 15,023,000.00 15,023,000.00 0.00
H 33736XCG2 7.487000% 17,527,000.00 17,527,000.00 0.00
J 33736XCH0 7.608342% 12,519,000.00 12,519,000.00 0.00
K 33736XCJ6 6.460000% 15,023,000.00 15,023,000.00 0.00
L 33736XCK3 6.460000% 20,031,000.00 20,031,000.00 0.00
M 33736XCL1 6.460000% 5,008,000.00 5,008,000.00 0.00
N 33736XCM9 6.460000% 6,048,000.00 6,048,000.00 0.00
O 33736XCN7 6.460000% 5,908,000.00 5,908,000.00 0.00
P 33736XCP2 6.460000% 3,939,000.00 3,939,000.00 0.00
Q 33736XCQ0 6.460000% 21,663,038.00 21,663,038.00 0.00
V 33736XCS6 6.828000% 1,175,111.70 1,385,284.48 (7,882.27)
Z-I N/A 0.000000% 0.00 0.00 0.00
Z-II N/A 0.000000% 0.00 0.00 0.00
R-I N/A 0.000000% 0.00 0.00 0.00
R-II N/A 0.000000% 0.00 0.00 0.00
Totals 1,002,714,149.70 978,449,594.85 1,003,325.80
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 33736XBY4 858,624.67 0.00 0.00 1,869,832.74 165,067,064.30 22.68%
A-2 33736XBZ1 3,279,567.47 0.00 0.00 3,279,567.47 590,647,000.00 22.68%
B 33736XCA5 241,875.61 0.00 0.00 241,875.61 42,565,000.00 18.33%
C 33736XCB3 72,219.53 0.00 0.00 72,219.53 12,520,000.00 17.05%
D 33736XCC1 72,516.31 0.00 0.00 72,516.31 12,519,000.00 15.77%
E 33736XCD9 116,897.58 0.00 0.00 116,897.58 20,031,000.00 13.72%
F 33736XCE7 59,447.37 0.00 0.00 59,447.37 10,015,000.00 12.69%
G 33736XCF4 92,491.60 0.00 0.00 92,491.60 15,023,000.00 11.16%
H 33736XCG2 109,353.87 0.00 0.00 109,353.87 17,527,000.00 9.36%
J 33736XCH0 79,374.03 0.00 0.00 79,374.03 12,519,000.00 8.08%
K 33736XCJ6 80,873.82 0.00 0.00 80,873.82 15,023,000.00 6.55%
L 33736XCK3 107,833.55 0.00 0.00 107,833.55 20,031,000.00 4.50%
M 33736XCL1 26,959.73 0.00 0.00 26,959.73 5,008,000.00 3.98%
N 33736XCM9 32,558.40 0.00 0.00 32,558.40 6,048,000.00 3.37%
O 33736XCN7 31,804.73 0.00 0.00 31,804.73 5,908,000.00 2.76%
P 33736XCP2 21,204.95 0.00 0.00 21,204.95 3,939,000.00 2.36%
Q 33736XCQ0 113,319.91 0.00 0.00 113,319.91 21,663,038.00 0.14%
V 33736XCS6 7,882.27 0.00 0.00 0.00 1,393,166.75 0.00%
Z-I N/A 0.00 0.00 0.00 0.00 0.00 0.00%
Z-II N/A 0.00 0.00 0.00 0.00 0.00 0.00%
R-I N/A 0.00 0.00 0.00 0.00 0.00 0.00%
R-II N/A 0.00 0.00 0.00 0.00 0.00 0.00%
Totals 5,404,805.40 0.00 0.00 6,408,131.20 977,446,269.05
Original Beginning
Pass-Through Notional Notional
Class CUSIP Rate Amount Amount
<s> <c> <c> <c> <c>
IO 33736XCR8 0.975957% 1,001,539,038.00 977,064,310.37
Ending
Interest Prepayment Total Notional
Class CUSIP Distribution Penalties Distribution Amount
<s> <c> <c> <c> <c> <c>
IO 33736XCR8 794,643.89 0.00 794,643.89 976,053,102.30
<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 33736XBY4 871.55947358 5.30670244 4.50596249 0.00000000 0.00000000 866.25277115
A-2 33736XBZ1 1,000.00000000 0.00000000 5.55250000 0.00000000 0.00000000 1,000.00000000
B 33736XCA5 1,000.00000000 0.00000000 5.68249994 0.00000000 0.00000000 1,000.00000000
C 33736XCB3 1,000.00000000 0.00000000 5.76833307 0.00000000 0.00000000 1,000.00000000
D 33736XCC1 1,000.00000000 0.00000000 5.79250020 0.00000000 0.00000000 1,000.00000000
E 33736XCD9 1,000.00000000 0.00000000 5.83583346 0.00000000 0.00000000 1,000.00000000
F 33736XCE7 1,000.00000000 0.00000000 5.93583325 0.00000000 0.00000000 1,000.00000000
G 33736XCF4 1,000.00000000 0.00000000 6.15666644 0.00000000 0.00000000 1,000.00000000
H 33736XCG2 1,000.00000000 0.00000000 6.23916643 0.00000000 0.00000000 1,000.00000000
J 33736XCH0 1,000.00000000 0.00000000 6.34028517 0.00000000 0.00000000 1,000.00000000
K 33736XCJ6 1,000.00000000 0.00000000 5.38333356 0.00000000 0.00000000 1,000.00000000
L 33736XCK3 1,000.00000000 0.00000000 5.38333333 0.00000000 0.00000000 1,000.00000000
M 33736XCL1 1,000.00000000 0.00000000 5.38333267 0.00000000 0.00000000 1,000.00000000
N 33736XCM9 1,000.00000000 0.00000000 5.38333333 0.00000000 0.00000000 1,000.00000000
O 33736XCN7 1,000.00000000 0.00000000 5.38333277 0.00000000 0.00000000 1,000.00000000
P 33736XCP2 1,000.00000000 0.00000000 5.38333333 0.00000000 0.00000000 1,000.00000000
Q 33736XCQ0 1,000.00000000 0.00000000 5.23102577 0.00000000 0.00000000 1,000.00000000
V 33736XCS6 1,178.85344857 (6.70767724) 6.70767724 0.00000000 0.00000000 1,185.56112581
Z-I N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Z-II N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-I N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II N/A 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 33736XCR8 975.56288202 0.79342278 0.00000000 974.55322785
Reconciliation Detail
Advance Summary
<s> <c>
P & I Advances Outstanding 407,913.46
Servicing Advances Outstanding 63,288.78
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
Servicing Fee Summary
<s> <c>
Current Period Accrued Servicing Fees 43,684.12
Less Delinquent Servicing Fees 2,059.21
Less Reductions to Servicing Fees 0.00
Plus Servicing Fees for Delinquent Payments Received 57.17
Plus Adjustments for Prior Servicing Calculation 0.00
Total Servicing Fees Collected 41,682.08
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> <c>
A-1 858,624.67 0.00 0.00 858,624.67 0.00 0.00 858,624.67 0.00
A-2 3,279,567.47 0.00 0.00 3,279,567.47 0.00 0.00 3,279,567.47 0.00
I O 794,643.89 0.00 0.00 794,643.89 0.00 0.00 794,643.89 0.00
B 241,875.61 0.00 0.00 241,875.61 0.00 0.00 241,875.61 0.00
C 72,219.53 0.00 0.00 72,219.53 0.00 0.00 72,219.53 0.00
D 72,516.31 0.00 0.00 72,516.31 0.00 0.00 72,516.31 0.00
E 116,897.58 0.00 0.00 116,897.58 0.00 0.00 116,897.58 0.00
F 59,447.37 0.00 0.00 59,447.37 0.00 0.00 59,447.37 0.00
G 92,491.60 0.00 0.00 92,491.60 0.00 0.00 92,491.60 0.00
H 109,353.87 0.00 0.00 109,353.87 0.00 0.00 109,353.87 0.00
J 79,374.03 0.00 0.00 79,374.03 0.00 0.00 79,374.03 0.00
K 80,873.82 0.00 0.00 80,873.82 0.00 0.00 80,873.82 0.00
L 107,833.55 0.00 0.00 107,833.55 0.00 0.00 107,833.55 0.00
M 26,959.73 0.00 0.00 26,959.73 0.00 0.00 26,959.73 0.00
N 32,558.40 0.00 0.00 32,558.40 0.00 0.00 32,558.40 0.00
O 31,804.73 0.00 0.00 31,804.73 0.00 0.00 31,804.73 0.00
P 21,204.95 0.00 0.00 21,204.95 0.00 0.00 21,204.95 0.00
Q 116,619.35 0.00 0.00 116,619.35 0.00 3,299.44 113,319.91 8,049.42
V 7,882.27 0.00 7,882.27 7,882.27 0.00 0.00 7,882.27 217,422.09
Total 6,202,748.73 0.00 7,882.27 6,202,748.73 0.00 3,299.44 6,199,449.29 225,471.51
Other Required Information
<s> <c>
Available Distribution Amount (1) 7,202,775.09
Aggregate Number of Outstanding Loans 108
Aggregate Stated Principal Balance of Loans Before Distribution 978,449,594.85
Aggregate Stated Principal Balance of Loans After Distribution 977,446,269.05
Aggregate Unpaid Principal Balance of Loans 977,504,344.88
Aggregate Amount of Servicing Fee 41,682.08
Aggregate Amount of Special Servicing Fee 654.70
Aggregate Amount of Trustee Fee 1,791.28
Aggregate Trust Fund Expenses 0.00
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.
Appraisal Reduction Amount
Appraisal Cumulative Date Appraisal
Loan Reduction ASER Reduction
Number Amount Amount Effected
<s> <c> <c> <c>
265950372 347,993.24 4,659.79 12/08/03
Total 347,993.24 4,659.79
Cash Reconciliation Detail
Total Funds Collected
Interest:
Scheduled Interest 6,248,224.13
Interest reductions due to Nonrecoverability Determinations 0.00
Interest Adjustments 0.00
Deferred Interest 7,882.27
Net Prepayment Interest Shortfall 0.00
Net Prepayment Interest Excess 0.00
Extension Interest 0.00
Interest Reserve Withdrawal 0.00
Total Interest Collected 6,240,341.86
Principal:
Scheduled Principal 1,003,325.80
Unscheduled Principal 7,882.27
Principal Prepayments 0.00
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 7,882.27
Principal Adjustments 0.00
Total Principal Collected 1,011,208.07
Other:
Prepayment Penalties/Yield Maintenance 0.00
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: 0.00
Total Funds Collected 7,251,549.93
Total Funds Distributed
Fees:
Master Servicing Fee 43,684.12
Trustee Fee 1,791.28
Certificate Administration Fee 0.00
Insurer Fee 0.00
Miscellaneous Fee 0.00
Total Fees 45,475.41
Additional Trust Fund Expenses:
Reimbursement for Interest on Advances 0.00
ASER Amount 2,644.74
Special Servicing Fee 654.70
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 0.00
Total Additional Trust Fund Expenses 3,299.44
Interest Reserve Deposit 0.00
Payments to Certificateholders & Others:
Interest Distribution 6,199,449.29
Principal Distribution 1,003,325.80
Prepayment Penalties/Yield Maintenance 0.00
Borrower Option Extension Fees 0.00
Equity Payments Paid 0.00
Net Swap Counterparty Payments Paid 0.00
Total Payments to Certificateholders & Others 7,202,775.09
Total Funds Distributed 7,251,549.94
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 33736XBY4 X Aaa AAA X Aaa AAA
A-2 33736XBZ1 X Aaa AAA X Aaa AAA
IO 33736XCR8 X Aaa AAA X Aaa AAA
B 33736XCA5 X Aa2 AA X Aa2 AA
C 33736XCB3 X Aa3 AA- X Aa3 AA-
D 33736XCC1 X A1 A+ X A1 A+
E 33736XCD9 X A2 A X A2 A
F 33736XCE7 X A3 A- X A3 A-
G 33736XCF4 X Baa1 BBB+ X Baa1 BBB+
H 33736XCG2 X Baa2 BBB X Baa2 BBB
J 33736XCH0 X Baa3 BBB- X Baa3 BBB-
K 33736XCJ6 X Ba1 BB+ X Ba1 BB+
L 33736XCK3 X Ba2 BB X Ba2 BB
M 33736XCL1 X Ba3 BB- X Ba3 BB-
N 33736XCM9 X B1 B+ X B1 B+
O 33736XCN7 X B2 B X B2 B
P 33736XCP2 X B3 B- X B3 B-
Q 33736XCQ0 X NR NR X NR NR
V 33736XCS6 X NR 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 2,000,000 20 26,371,387.37 2.70 89 7.7569 1.262604
2,000,001 to 4,000,000 20 56,071,569.18 5.74 85 7.6654 1.299912
4,000,001 to 6,000,000 22 111,286,165.85 11.39 86 7.7380 1.424701
6,000,001 to 8,000,000 9 62,616,974.53 6.41 85 7.8137 1.722935
8,000,001 to 10,000,000 8 74,222,503.92 7.59 85 7.6297 1.431376
10,000,001 to 15,000,000 9 118,229,225.98 12.10 84 7.6260 1.447773
15,000,001 to 20,000,000 7 119,890,316.77 12.27 87 7.4670 1.256296
20,000,001 to 25,000,000 5 112,538,774.77 11.51 85 7.7389 2.002859
25,000,001 to 30,000,000 2 53,935,697.17 5.52 63 8.3627 1.168360
30,000,001 to 35,000,000 3 95,682,304.85 9.79 87 7.6842 1.116988
35,000,001 to 40,000,000 0 0.00 0.00 0 0.0000 0.000000
40,000,001 to 45,000,000 1 44,000,000.00 4.50 85 6.7940 2.100000
45,000,001 to 50,000,000 1 50,000,000.00 5.12 85 7.7500 0.960000
50,000,001 or greater 1 52,601,348.66 5.38 86 7.5800 1.530000
Totals 108 977,446,269.05 100.00 84 7.6631 1.449510
State(3)
% Of
# of Scheduled Agg. WAM Weighted
State Props Balance Bal. (2) WAC Avg DSCR(1)
<s> <c> <c> <c> <c> <c> <c>
Alabama 3 9,383,867.69 0.96 89 7.2200 1.316552
Arizona 1 1,520,532.08 0.16 86 7.8750 1.540000
Arkansas 1 888,463.93 0.09 86 7.8750 1.430000
California 27 224,653,443.36 22.98 84 7.9621 1.482779
Connecticut 4 12,808,353.76 1.31 85 7.8007 1.199946
Delaware 2 11,409,867.80 1.17 86 7.3258 1.418533
Florida 14 96,214,800.24 9.84 75 7.7826 1.161109
Georgia 3 18,111,977.12 1.85 86 7.7313 1.257010
Hawaii 1 20,204,091.67 2.07 85 8.0000 1.790000
Idaho 1 865,205.21 0.09 86 8.0000 1.610000
Illinois 2 7,418,515.02 0.76 86 7.4876 0.898604
Indiana 1 12,344,037.82 1.26 89 7.4400 1.720000
Maine 1 9,212,489.07 0.94 88 7.3000 1.300000
Maryland 2 24,144,527.18 2.47 83 8.3300 1.590000
Massachusetts 3 7,267,138.99 0.74 86 7.8439 1.647743
Michigan 3 4,965,867.53 0.51 102 7.2232 1.410394
Missouri 1 2,415,306.73 0.25 86 7.8750 1.540000
Nevada 4 48,220,385.92 4.93 86 7.3350 1.168735
New Jersey 5 33,248,352.19 3.40 85 7.5205 1.374144
New Mexico 1 1,665,594.72 0.17 83 8.7500 1.300000
New York 7 80,120,564.59 8.20 86 7.8243 1.512832
North Carolina 2 26,696,515.93 2.73 88 7.1773 1.368904
Oklahoma 1 7,208,320.78 0.74 89 7.4400 2.110000
Pennsylvania 6 82,983,627.38 8.49 85 7.2015 1.697260
South Carolina 1 11,612,543.20 1.19 88 7.2900 1.330000
Tennessee 4 9,750,748.62 1.00 86 8.0249 1.260420
Texas 26 119,069,007.68 12.18 83 7.5502 1.494776
Virginia 6 37,633,113.25 3.85 88 7.3307 1.493801
Washington,DC 1 52,601,348.66 5.38 86 7.5800 1.530000
Wisconsin 1 2,807,660.93 0.29 86 7.7500 0.980000
Totals 135 977,446,269.05 100.00 84 7.6631 1.449510
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>
Unknown 1 1,393,166.75 0.14 114 6.8280 NAP
1.04 or less 19 159,836,774.87 16.35 80 7.8394 0.922096
1.05 to 1.14 8 93,696,164.91 9.59 87 7.3707 1.087362
1.15 to 1.19 7 100,510,328.04 10.28 85 7.5310 1.179301
1.20 to 1.24 2 7,878,628.59 0.81 85 7.7515 1.235051
1.25 to 1.29 2 20,018,211.54 2.05 84 8.0611 1.274215
1.30 to 1.34 9 48,238,089.05 4.94 86 7.6934 1.315530
1.35 to 1.39 12 110,700,733.49 11.33 85 7.6289 1.359770
1.40 to 1.44 5 47,171,259.47 4.83 83 8.0813 1.421978
1.45 to 1.49 6 28,533,573.42 2.92 86 7.4237 1.477229
1.50 to 1.54 4 78,534,643.94 8.03 86 7.5985 1.529779
1.55 to 1.59 3 42,485,193.80 4.35 85 7.8964 1.581366
1.60 to 1.64 7 24,759,164.79 2.53 77 7.9614 1.618602
1.65 to 1.69 3 25,527,514.80 2.61 85 7.6159 1.680000
1.70 to 1.74 5 47,956,124.43 4.91 86 7.8126 1.717461
1.75 to 1.79 2 22,402,574.81 2.29 85 7.9902 1.786075
1.80 to 1.89 7 28,129,985.09 2.88 84 7.7942 1.846989
1.90 to 1.94 1 4,782,505.08 0.49 86 7.7000 1.910000
1.95 to 1.99 0 0.00 0.00 0 0.0000 0.000000
2.00 or greater 5 84,891,632.18 8.69 85 7.2514 2.789625
Totals 108 977,446,269.05 100.00 84 7.6631 1.449510
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 7 49,160,592.32 5.03 85 8.0948 1.310567
Lodging 8 61,392,678.00 6.28 85 7.9263 1.087390
Mixed Use 3 36,554,753.35 3.74 83 7.8705 3.184865
Mobile Home Park 1 881,727.48 0.09 25 8.5000 1.170000
Multi-Family 40 328,243,036.46 33.58 82 7.5036 1.270124
Office 29 282,858,819.75 28.94 85 7.7251 1.580877
Retail 27 184,059,735.33 18.83 88 7.5645 1.375916
Self Storage 20 34,294,926.36 3.51 86 7.8750 1.482822
Totals 135 977,446,269.05 100.00 84 7.6631 1.449510
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>
6.999% or less 7 54,543,051.06 5.58 91 6.8088 1.864717
7.000% to 7.249% 14 131,947,528.08 13.50 87 7.1765 1.304064
7.250% to 7.499% 22 225,011,359.51 23.02 85 7.3438 1.410612
7.500% to 7.749% 14 120,188,956.28 12.30 86 7.6058 1.400192
7.750% to 7.999% 18 191,208,517.98 19.56 86 7.8028 1.654425
8.000% to 8.249% 15 130,680,126.20 13.37 77 8.0486 1.193080
8.250% to 8.499% 8 44,821,315.35 4.59 79 8.3466 1.536714
8.500% to 8.749% 8 62,813,403.47 6.43 80 8.6570 1.491141
8.750% or greater 2 16,232,011.12 1.66 79 8.8577 1.389739
Totals 108 977,446,269.05 100.00 84 7.6631 1.449510
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 0 0.00 0.00 0 0.0000 0.000000
25 to 36 months 91 844,000,587.21 86.35 85 7.5342 1.458910
37 to 48 months 17 133,445,681.84 13.65 80 8.4783 1.390055
49 months and greater 0 0.00 0.00 0 0.0000 0.000000
Totals 108 977,446,269.05 100.00 84 7.6631 1.449510
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 3 32,097,812.50 3.28 46 8.0865 1.067970
61 to 84 months 21 168,086,426.74 17.20 81 8.3431 1.473660
85 to 108 months 69 714,655,584.55 73.11 86 7.5089 1.382819
109 to 120 months 0 0.00 0.00 0 0.0000 0.000000
121 months or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 93 914,839,823.79 93.59 84 7.6824 1.388462
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>
108 months or less 9 52,063,394.20 5.33 86 7.4846 2.636980
109 to 120 months 6 10,543,051.06 1.08 114 6.8706 0.882796
121 to 144 months 0 0.00 0.00 0 0.0000 0.000000
145 to 300 months 0 0.00 0.00 0 0.0000 0.000000
301 to 348 months 0 0.00 0.00 0 0.0000 0.000000
349 to 360 months 0 0.00 0.00 0 0.0000 0.000000
361 months or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 15 62,606,445.26 6.41 91 7.3812 2.341572
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 7 61,250,000.00 6.27 85 7.3500 1.662327
108 months or less 0 0.00 0.00 0 0.0000 0.000000
109 to 120 months 0 0.00 0.00 0 0.0000 0.000000
121 to 144 months 0 0.00 0.00 0 0.0000 0.000000
145 to 300 months 12 248,836,436.97 25.46 85 7.5587 1.499626
301 to 348 months 73 596,820,075.42 61.06 83 7.7655 1.286871
349 to 360 months 0 0.00 0.00 0 0.0000 0.000000
361 months or greater 1 7,933,311.40 0.81 84 7.8800 3.430000
Totals 93 914,839,823.79 93.59 84 7.6824 1.388462
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 1 3,899,307.99 0.40 85 7.6000 1.230000
Unknown 1 1,393,166.75 0.14 114 6.8280 NAP
1 year or less 103 960,356,076.85 98.25 84 7.6590 1.451299
1 to 2 years 3 11,797,717.46 1.21 85 8.1167 1.547572
2 years or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 108 977,446,269.05 100.00 84 7.6631 1.449510
<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>
265950394 1 OF Washington DC 332,738.06 74,861.75 7.580%
265950357 2 LO Various Various 322,916.67 0.00 7.750%
510000162 3 OF Philadelphia PA 249,113.33 0.00 6.794%
265950334 4 MF La Jolla CA 223,830.69 27,832.41 8.030%
510000172 5 RT Islip NY 207,962.48 27,115.32 7.770%
603000006 6 MF Tallahassee FL 181,448.73 29,185.51 7.210%
603000007 7 MF Various FL 187,928.92 23,220.38 8.050%
603000008 8 OF Anaheim CA 188,241.25 19,642.00 8.700%
510000146 9 OF Gaithersburg MD 167,736.66 19,217.17 8.330%
265950525 10 MU Sacramento CA 154,375.00 0.00 7.800%
265950455 11 MF Las Vegas NV 138,187.50 0.00 7.370%
265950554 12 OF New York NY 131,035.39 21,083.18 7.160%
510000160 13 RT Kaneohe HI 134,875.32 27,206.09 8.000%
265950520 14 MF Las Vegas NV 118,085.36 19,542.99 7.090%
510000165 15 SS Various Various 117,145.15 24,295.59 7.875%
265950445 16 IN Lake Forest CA 112,434.51 15,185.36 7.700%
265950532 17 RT Asheboro NC 100,723.16 16,111.01 7.178%
510000166 18 SS Various Various 108,222.04 22,444.95 7.875%
265950489 19 MF Riverside CA 96,329.88 14,952.88 7.320%
265950448 20 MF Neptune City NJ 93,920.29 23,174.42 7.250%
265950378 21 MF Irving TX 91,875.00 0.00 7.350%
510000129 22 OF New York NY 107,749.54 10,748.14 8.870%
503000023 23 MF Moon Township PA 86,957.90 13,239.41 7.380%
265950381 24 MF Irving TX 87,281.25 0.00 7.350%
265950457 25 RT Woodbridge VA 76,007.47 11,745.61 7.300%
265950614 26 MF Bloomington IN 76,592.56 9,601.15 7.440%
265950322 27 OF Bensalem Township PA 82,269.85 9,930.05 8.140%
265950611 28 RT Los Angeles CA 72,492.71 10,674.74 7.410%
503000029 29 RT Bluffton SC 70,612.36 10,889.73 7.290%
265950533 30 RT Randleman NC 59,102.98 9,459.90 7.176%
510000153 31 IN Santa Cruz CA 69,134.84 7,068.04 8.650%
265950386 32 MF Dallas TX 58,187.50 0.00 7.350%
265950400 33 RT Chesapeake VA 57,899.17 8,526.21 7.500%
265950450 34 MF Wilmington DE 55,076.71 13,589.94 7.250%
510000169 35 RT Bangor ME 56,095.10 8,622.80 7.300%
265950449 36 MF Matawan NJ 53,917.20 13,303.84 7.250%
510000128 37 IN Sunnyvale CA 62,923.01 6,854.07 8.590%
265330988 38 MU Santa Monica CA 52,315.92 6,780.56 7.940%
510000151 39 OF New York NY 52,113.75 2,792.03 7.880%
265950566 40 OF Richmond VA 36,811.64 51,122.49 7.220%
265330998 41 OF Los Angeles CA 50,740.38 5,868.46 8.300%
265330995 42 OF San Francisco CA 48,795.09 6,237.25 8.000%
265950562 43 OF Houston TX 35,830.00 49,759.22 7.220%
265950619 44 MF Norman OK 44,726.35 5,606.61 7.440%
265330972 45 LO Sabal Park FL 46,204.22 7,833.24 8.700%
265950561 46 OF Birmingham AL 31,903.42 44,306.16 7.220%
265950377 47 MF Richardson TX 38,281.25 0.00 7.350%
265950384 48 MF Bedford TX 38,281.25 0.00 7.350%
510000168 49 RT Jacksonville FL 36,060.12 5,400.84 7.380%
510000148 50 OF Parsippany NJ 40,732.14 4,473.40 8.480%
510000144 51 RT Los Angeles CA 39,661.60 4,287.72 8.530%
265950348 52 OF Austin TX 34,056.83 4,629.43 7.750%
265950458 53 MF Safety Harbor FL 33,916.58 4,557.22 7.770%
265950395 54 IN Augusta GA 33,652.91 4,496.04 7.750%
265950387 55 MF Dallas TX 32,156.25 0.00 7.350%
510000163 56 MF Joliet IL 32,018.48 4,690.28 7.500%
265950456 57 OF Alexandria VA 31,495.07 4,650.68 7.440%
265330973 58 LO Tallahassee FL 36,494.34 6,187.06 8.700%
265950321 59 MU Las Vegas NV 33,135.05 4,050.48 8.100%
510000156 60 MF Lafayette Hills PA 28,948.10 4,788.46 7.140%
265950435 61 RT Morrow GA 31,063.04 4,295.42 7.680%
510000152 62 MF Monterey CA 30,693.47 4,342.32 7.625%
265950390 63 RT Cupertino CA 30,714.82 4,220.23 7.700%
265950444 64 OF San Clemente CA 30,589.73 4,131.43 7.700%
265950382 65 MF San Antonio TX 29,093.75 0.00 7.350%
510000159 66 RT Austin TX 30,640.47 3,846.46 8.000%
265950349 67 OF Austin TX 28,380.69 3,857.86 7.750%
265950565 68 OF Richmond VA 20,614.52 28,628.59 7.220%
510000145 69 RT Jacksonville FL 27,468.32 3,327.02 8.170%
503000070 70 OF Pittsburgh PA 26,219.56 3,397.76 7.900%
603000071 71 MF Patton Township PA 24,717.94 3,525.05 7.600%
265950317 72 IN Memphis TN 24,516.58 2,890.58 8.140%
825999645 73 RT Galt CA 16,450.37 17,476.21 6.942%
265950370 74 MF Pasadena TX 22,297.63 2,587.03 8.290%
510000164 75 MF Farmers Branch TX 19,820.97 2,903.50 7.500%
265950372 76 MF Arlington TX 21,421.64 2,461.60 8.180%
265950560 77 OF Birmingham AL 14,724.66 20,448.99 7.220%
265950563 78 OF Houston TX 14,724.66 20,448.99 7.220%
265950459 79 RT Palm Beach Garden FL 18,223.30 2,560.54 7.630%
265950422 80 IN Green Bay WI 18,157.98 3,897.62 7.750%
510000161 81 OF Healdsburg CA 18,590.51 2,321.78 8.000%
825999649 82 RT Palm Desert CA 12,882.38 13,997.62 6.828%
265950365 83 MF Newark DE 14,674.17 2,065.15 7.625%
265950328 84 RT Sterling IL 14,313.08 2,123.79 7.460%
265950481 85 MF Detroit MI 14,320.74 1,982.26 7.640%
265950431 86 RT Stamford CT 14,485.64 1,867.48 7.900%
510000158 87 MF Johnson Ciy TN 14,081.58 1,767.73 8.000%
265330960 88 MF Clarksville TN 13,787.96 1,801.03 7.875%
265950559 89 OF Birmingham AL 10,307.26 14,314.30 7.220%
265950369 90 MF Woburn MA 12,708.33 0.00 7.625%
265330945 91 OF San Francisco CA 12,647.35 1,680.89 7.750%
510000157 92 MF Johnson Ciy TN 12,875.52 1,616.33 8.000%
825999532 93 RT Portage MI 8,544.02 8,991.81 6.990%
510000154 94 IN Plano TX 11,082.72 1,391.28 8.000%
510000149 95 RT Albuquerque NM 12,153.86 1,220.05 8.750%
825999737 96 RT Roanoke VA 7,749.85 8,434.17 6.820%
825999799 97 RT Warren MI 7,135.89 7,875.33 6.750%
265950312 98 OF Encino CA 10,173.91 1,120.88 8.470%
265950564 99 OF San Antonio TX 6,871.51 9,542.86 7.220%
265950440 100 MF Naples FL 8,213.55 1,067.34 7.875%
265950353 101 OF White Plains NY 8,490.85 997.65 8.250%
265950367 102 MF Stuart FL 8,268.57 919.19 8.400%
265330909 103 MH Roanoke TX 6,250.31 669.91 8.500%
265950423 104 RT Meridian ID 5,772.84 720.98 8.000%
265950429 105 MF Carson City NV 5,486.93 745.86 7.750%
265950409 106 RT Long Beach CA 4,620.49 492.78 8.500%
265950428 107 MF Brookline MA 3,561.66 390.15 8.415%
825999649 108 RT Palm Desert CA 7,882.27 0.00 6.828%
Totals 6,248,224.13 1,011,208.07
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>
265950394 N/A 02/01/2011 N 52,676,210.41 52,601,348.66 12/01/2003
265950357 N/A 01/01/2011 N 50,000,000.00 50,000,000.00 12/01/2003
510000162 01/31/2011 01/01/2029 N 44,000,000.00 44,000,000.00 12/01/2003
265950334 N/A 01/01/2011 N 33,449,169.06 33,421,336.65 12/01/2003
510000172 06/01/2011 06/01/2031 N 32,117,757.16 32,090,641.84 12/01/2003
603000006 02/01/2011 02/01/2031 N 30,199,511.87 30,170,326.36 11/01/2003
603000007 N/A 01/01/2008 N 28,014,249.38 27,991,029.00 12/01/2003
603000008 07/01/2010 07/01/2030 N 25,964,310.17 25,944,668.17 12/01/2003
510000146 11/01/2010 11/01/2030 N 24,163,744.35 24,144,527.18 12/01/2003
265950525 N/A 11/10/2010 N 23,750,000.00 23,750,000.00 12/10/2003
265950455 N/A 01/01/2011 N 22,500,000.00 22,500,000.00 12/01/2003
265950554 04/01/2011 04/01/2031 N 21,961,239.10 21,940,155.92 12/01/2003
510000160 N/A 01/01/2011 N 20,231,297.76 20,204,091.67 12/01/2003
265950520 N/A 03/01/2011 N 19,986,239.49 19,966,696.50 12/01/2003
510000165 02/01/2011 02/01/2026 N 17,850,689.88 17,826,394.29 12/01/2003
265950445 N/A 04/01/2011 N 17,522,261.75 17,507,076.39 12/01/2003
265950532 N/A 04/01/2011 N 16,838,644.80 16,822,533.79 12/01/2003
510000166 02/01/2011 02/01/2026 N 16,490,977.01 16,468,532.06 12/01/2003
265950489 N/A 02/01/2011 N 15,791,783.79 15,776,830.91 12/01/2003
265950448 N/A 02/01/2011 N 15,545,427.25 15,522,252.83 12/01/2003
265950378 N/A 01/01/2011 N 15,000,000.00 15,000,000.00 12/01/2003
510000129 N/A 06/01/2010 N 14,577,164.54 14,566,416.40 12/01/2003
503000023 N/A 02/01/2011 N 14,139,495.22 14,126,255.81 12/01/2003
265950381 N/A 01/01/2011 N 14,250,000.00 14,250,000.00 12/01/2003
265950457 N/A 03/01/2011 N 12,494,378.86 12,482,633.25 12/01/2003
265950614 N/A 05/01/2011 N 12,353,638.97 12,344,037.82 12/01/2003
265950322 N/A 12/01/2010 N 12,128,233.86 12,118,303.81 12/01/2003
265950611 N/A 11/01/2009 N 11,739,710.43 11,729,035.69 12/01/2003
503000029 N/A 04/01/2011 N 11,623,432.93 11,612,543.20 12/01/2003
265950533 N/A 04/01/2011 N 9,883,442.04 9,873,982.14 12/01/2003
510000153 N/A 01/01/2011 N 9,590,959.81 9,583,891.77 12/01/2003
265950386 N/A 01/01/2011 N 9,500,000.00 9,500,000.00 12/01/2003
265950400 N/A 01/01/2011 N 9,263,867.08 9,255,340.87 12/01/2003
265950450 N/A 02/01/2011 N 9,116,145.67 9,102,555.73 12/01/2003
510000169 N/A 04/01/2011 N 9,221,111.87 9,212,489.07 12/01/2003
265950449 N/A 02/01/2011 N 8,924,226.64 8,910,922.80 12/01/2003
510000128 N/A 06/01/2010 N 8,790,175.61 8,783,321.54 12/01/2003
265330988 N/A 11/01/2010 N 7,906,688.29 7,899,907.73 12/01/2003
510000151 N/A 12/01/2010 N 7,936,103.43 7,933,311.40 12/01/2003
265950566 N/A 05/01/2011 N 6,118,278.34 6,067,155.85 12/01/2003
265330998 11/01/2010 11/01/2030 N 7,335,957.86 7,330,089.40 12/01/2003
265330995 N/A 10/01/2010 N 7,319,263.42 7,313,026.17 12/01/2003
265950562 N/A 05/01/2011 N 5,955,124.26 5,905,365.04 12/01/2003
265950619 N/A 05/01/2011 N 7,213,927.39 7,208,320.78 12/01/2003
265330972 N/A 11/01/2010 N 6,372,996.44 6,365,163.20 12/01/2003
265950561 N/A 05/01/2011 N 5,302,507.89 5,258,201.73 12/01/2003
265950377 N/A 01/01/2011 N 6,250,000.00 6,250,000.00 12/01/2003
265950384 N/A 01/01/2011 N 6,250,000.00 6,250,000.00 12/01/2003
510000168 N/A 04/01/2011 N 5,863,434.21 5,858,033.37 12/01/2003
510000148 N/A 10/01/2010 N 5,763,981.74 5,759,508.34 12/01/2003
510000144 N/A 10/01/2010 N 5,579,591.95 5,575,304.23 12/01/2003
265950348 N/A 01/01/2011 N 5,273,315.93 5,268,686.50 12/01/2003
265950458 N/A 02/01/2011 N 5,238,081.37 5,233,524.15 12/01/2003
265950395 N/A 03/01/2011 N 5,210,773.84 5,206,277.80 12/01/2003
265950387 N/A 01/01/2011 N 5,250,000.00 5,250,000.00 12/01/2003
510000163 N/A 02/01/2011 N 5,122,957.11 5,118,266.83 12/01/2003
265950456 N/A 03/01/2011 N 5,079,850.74 5,075,200.06 12/01/2003
265330973 N/A 11/01/2010 N 5,033,701.86 5,027,514.80 12/01/2003
265950321 N/A 12/01/2010 N 4,908,896.10 4,904,845.62 12/01/2003
510000156 N/A 01/01/2011 N 4,865,227.63 4,860,439.17 11/01/2003
265950435 N/A 02/01/2011 N 4,853,599.98 4,849,304.56 12/01/2003
510000152 N/A 01/01/2011 N 4,830,448.16 4,826,105.84 12/01/2003
265950390 N/A 02/01/2011 N 4,786,725.31 4,782,505.08 12/01/2003
265950444 N/A 04/01/2011 N 4,767,229.90 4,763,098.47 12/01/2003
265950382 N/A 01/01/2011 N 4,750,000.00 4,750,000.00 12/01/2003
510000159 N/A 01/01/2011 N 4,596,070.97 4,592,224.51 12/01/2003
265950349 N/A 01/01/2011 N 4,394,429.95 4,390,572.09 12/01/2003
265950565 N/A 05/01/2011 N 3,426,235.96 3,397,607.37 12/01/2003
510000145 10/01/2010 10/01/2030 N 4,034,514.68 4,031,187.66 12/01/2003
503000070 N/A 01/01/2011 N 3,982,718.36 3,979,320.60 12/01/2003
603000071 N/A 01/01/2011 N 3,902,833.04 3,899,307.99 12/01/2003
265950317 N/A 03/01/2011 N 3,614,237.27 3,611,346.69 12/01/2003
825999645 N/A 06/01/2013 N 2,843,624.37 2,826,148.16 12/01/2003
265950370 N/A 11/01/2005 N 3,227,643.05 3,225,056.02 12/01/2003
510000164 N/A 02/01/2011 N 3,171,354.43 3,168,450.93 11/01/2003
265950372 N/A 11/01/2010 N 3,142,538.63 3,140,077.03 09/01/2003
265950560 N/A 05/01/2011 N 2,447,311.42 2,426,862.43 12/01/2003
265950563 N/A 05/01/2011 N 2,447,311.42 2,426,862.43 12/01/2003
265950459 N/A 02/01/2011 N 2,866,050.34 2,863,489.80 12/01/2003
265950422 N/A 02/01/2011 N 2,811,558.55 2,807,660.93 12/01/2003
510000161 N/A 02/01/2011 N 2,788,576.22 2,786,254.44 12/01/2003
825999649 N/A 06/01/2013 N 2,264,039.18 2,250,041.56 12/01/2003
265950365 N/A 02/01/2011 N 2,309,377.22 2,307,312.07 12/01/2003
265950328 N/A 02/01/2011 N 2,302,371.98 2,300,248.19 12/01/2003
265950481 N/A 03/01/2011 N 2,249,331.05 2,247,348.79 12/01/2003
265950431 N/A 02/01/2011 N 2,200,350.62 2,198,483.14 12/01/2003
510000158 N/A 01/01/2011 N 2,112,236.95 2,110,469.22 12/01/2003
265330960 N/A 01/01/2011 N 2,101,022.42 2,099,221.39 09/01/2003
265950559 N/A 05/01/2011 N 1,713,117.83 1,698,803.53 12/01/2003
265950369 N/A 01/01/2011 N 2,000,000.00 2,000,000.00 12/01/2003
265330945 N/A 04/01/2011 N 1,958,299.58 1,956,618.69 12/01/2003
510000157 N/A 01/01/2011 N 1,931,327.65 1,929,711.32 12/01/2003
825999532 N/A 06/01/2013 N 1,466,783.74 1,457,791.93 12/01/2003
510000154 N/A 01/01/2011 N 1,662,408.48 1,661,017.20 12/01/2003
510000149 N/A 11/01/2010 N 1,666,814.77 1,665,594.72 11/01/2003
825999737 N/A 06/01/2013 N 1,363,610.02 1,355,175.85 11/01/2003
825999799 N/A 06/01/2013 N 1,268,602.14 1,260,726.81 12/01/2003
265950312 N/A 10/01/2010 N 1,441,404.61 1,440,283.73 12/01/2003
265950564 N/A 05/01/2011 N 1,142,078.68 1,132,535.82 12/01/2003
265950440 N/A 02/01/2011 N 1,251,588.91 1,250,521.57 12/01/2003
265950353 N/A 11/01/2010 N 1,235,033.17 1,234,035.52 12/01/2003
265950367 N/A 12/01/2010 N 1,181,223.59 1,180,304.40 12/01/2003
265330909 N/A 01/01/2006 N 882,397.39 881,727.48 12/01/2003
265950423 N/A 02/01/2011 N 865,926.19 865,205.21 12/01/2003
265950429 N/A 01/01/2011 N 849,589.66 848,843.80 12/01/2003
265950409 N/A 02/01/2011 N 652,305.06 651,812.28 12/01/2003
265950428 N/A 02/01/2011 N 507,900.91 507,510.76 12/01/2003
825999649 N/A 06/01/2013 Y 1,385,284.48 1,393,166.75 12/01/2003
Totals 978,449,594.85 977,446,269.05
Appraisal Appraisal Res Mod
Loan Number Reduction Reduction Strat. Code
Date Amount (2) (3)
265950372 12/08/2003 347,993.24 7
Totals 347,993.24
<FN>
(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
</FN>
Principal Prepayment Detail
No Principal Prepayments this Period
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 $2,099,221.39 0 $0.00 0 $0.00 1 $3,140,077.03 0 $0.00
11/17/2003 1 $2,101,022.42 0 $0.00 0 $0.00 0 $0.00 1 $3,142,538.63 0 $0.00
10/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 1 $3,144,273.95 0 $0.00
09/12/2003 1 $3,146,707.14 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
08/14/2003 1 $3,148,413.31 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
07/14/2003 1 $3,150,107.54 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
06/13/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
05/14/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
04/14/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
03/14/2003 1 $3,158,170.52 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
02/14/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
01/14/2003 1 $3,163,536.46 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
Prepayments
Distribution Curtailments Payoff
Date # Amount # Amount
12/12/2003 0 $0.00 0 $0.00
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 7.663108% 7.606532% 84
11/17/2003 7.663010% 7.606435% 85
10/15/2003 7.662893% 7.606319% 86
09/12/2003 7.662796% 7.606222% 87
08/14/2003 7.662681% 7.606108% 88
07/12/2003 7.662566% 7.606796% 89
06/13/2003 7.662471% 7.606701% 90
05/14/2003 7.662358% 7.606589% 91
04/14/2003 7.662268% 7.606499% 92
03/14/2003 7.662158% 7.606390% 93
02/14/2003 7.662109% 7.606341% 94
01/14/2003 7.662001% 7.606233% 95
<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>
603000006 6 0 11/01/2003 209,375.92 209,375.92 B
510000156 60 0 11/01/2003 33,473.03 33,473.03 B
510000164 75 0 11/01/2003 22,552.69 22,552.69 B
265950372 76 2 09/01/2003 21,107.56 66,596.85 9
265330960 88 2 09/01/2003 15,501.45 46,504.15 2
510000149 95 0 11/01/2003 13,283.62 13,283.62 B
825999737 96 0 11/01/2003 16,127.20 16,127.20 B
Totals 7 331,421.47 407,913.46
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>
603000006 30,199,511.87 0.00
510000156 4,865,227.63 0.00
510000164 3,171,354.43 0.00
265950372 7 08/01/2003 3,146,707.14 63,288.78 10/07/2003
265330960 2,104,135.42 0.00
510000149 1,666,814.77 0.00
825999737 1,363,610.02 0.00
Totals 46,517,361.28 63,288.78
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) 15,501.45 46,504.15 2,104,135.42 0.00
Total for Status Code = 9 (1 Loan) 21,107.56 66,596.85 3,146,707.14 63,288.78
Total for Status Code = B (5 Loan) 294,812.46 294,812.46 41,266,518.72 0.00
(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 Scheduled Property State Interest
Documnet Transfer Strategy Balance Type Rate
Loan Number Cross-Reference Date Code
<s> <c> <c> <c> <c> <c> <c> <c>
265950372 76 08/01/2003 7 3,140,077.03 MF TX 8.180%
</Table>
<Table>
<Caption>
Specially Serviced Loan Detail - Part 1
Net DSCR DSCR Note Maturity Remaining
Actual Operating Date Date Date Amoritization
Loan Number Balance Income Term
<s> <c> <c> <c> <c> <c> <c> <c>
265950372 3,146,707.14 175,179.79 12/31/2002 0.61 12/01/2000 11/01/2010 328
</Table>
(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
OU - Office
MU - Mixed Use
LO - Lodging
SS - Self Storage
OT - Other
Specially Serviced Loan Detail - Part 2
<Table>
Offering Resolution Site Other REO
Documnet Strategy Inspection Phase 1 Date Appraisal Appraisal Property
Loan Number Cross-Reference Code Date Date Value REvenue
<s> <c> <c> <c> <c> <c> <c> <c>
265950372 76 7 09/23/2003 3,250,000.00
Comments from Special Servicer
265950372 Foreclosure October 7, 2003.
(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
</Table>
Modified Loan Detail
No Modified Loans
Liquidated Loan Detail
No Liquidated Loans