UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 26, 2003
TERWIN MORTGAGE TRUST
Asset Backed Pass Through Certificates, Series 2003-6HE Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-110039-01 54-2135803
Pooling and Servicing Agreement) (Commission 54-2135804
(State or other File Number) IRS EIN
jurisdiction
of Incorporation)
c/o Wells Fargo Bank Minnesota, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On December 26, 2003 a distribution was made to holders of TERWIN MORTGAGE
TRUST, Asset Backed Pass Through Certificates, Series 2003-6HE Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Asset Backed Pass Through Certificates,
Series 2003-6HE Trust, relating to the
December 26, 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.
TERWIN MORTGAGE TRUST
Asset Backed Pass Through Certificates, Series 2003-6HE Trust
By: Wells Fargo Bank Minnesota, N.A. as Securities
Administrator
By: /s/ Beth Belfield as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 12/31/03
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Pass Through Certificates, Series 2003-6HE Trust,
relating to the December 26, 2003 distribution.
EX-99.1
Terwin Securitization LLC.
Asset Backed Pass Through Certificates
Record Date: 11/30/03
Distribution Date: 12/26/03
TER Series: 2003-6HE
Contact: Customer Service - CTSLink
Wells Fargo Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<s> <c> <c> <c> <c> <c> <c>
A-1 881561CE2 SEN 1.58875% 70,576,000.00 96,554.33 1,059,906.65
A-2 881561CF9 SEN 1.31875% 65,000,000.00 73,813.36 1,501,794.74
A-3 881561CG7 SEN 1.68875% 35,000,000.00 50,897.05 0.00
M-1 881561CH5 SUB 1.81875% 12,481,000.00 19,547.07 0.00
M-2 881561CJ1 SUB 2.86875% 10,921,000.00 26,978.28 0.00
M-3 881561CK8 SUB 3.11875% 3,120,000.00 8,379.04 0.00
M-4 881561CL6 SUB 4.21875% 2,600,000.00 9,445.31 0.00
M-5 881561CM4 SUB 4.61875% 2,600,000.00 10,340.87 0.00
M-6 881561CN2 SUB 6.00000% 2,600,000.00 13,000.00 0.00
CE 111276119 SUB 0.00000% 3,121,176.68 859,746.13 (100.32)
P 111276127 SUB 0.00000% 100.00 22,469.49 0.00
R 111276135 SEN 0.00000% 0.00 0.00 0.00
Totals 208,019,276.68 1,191,170.93 2,561,601.07
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 69,516,093.35 1,156,460.98 0.00
A-2 0.00 63,498,205.26 1,575,608.10 0.00
A-3 0.00 35,000,000.00 50,897.05 0.00
M-1 0.00 12,481,000.00 19,547.07 0.00
M-2 0.00 10,921,000.00 26,978.28 0.00
M-3 0.00 3,120,000.00 8,379.04 0.00
M-4 0.00 2,600,000.00 9,445.31 0.00
M-5 0.00 2,600,000.00 10,340.87 0.00
M-6 0.00 2,600,000.00 13,000.00 0.00
CE 0.00 3,121,277.00 859,645.81 0.00
P 0.00 100.00 22,469.49 0.00
R 0.00 0.00 0.00 0.00
Totals 0.00 205,457,675.61 3,752,772.00 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
A-1 70,576,000.00 70,576,000.00 0.00 1,059,906.65 0.00 0.00
A-2 65,000,000.00 65,000,000.00 0.00 1,501,794.74 0.00 0.00
A-3 35,000,000.00 35,000,000.00 0.00 0.00 0.00 0.00
M-1 12,481,000.00 12,481,000.00 0.00 0.00 0.00 0.00
M-2 10,921,000.00 10,921,000.00 0.00 0.00 0.00 0.00
M-3 3,120,000.00 3,120,000.00 0.00 0.00 0.00 0.00
M-4 2,600,000.00 2,600,000.00 0.00 0.00 0.00 0.00
M-5 2,600,000.00 2,600,000.00 0.00 0.00 0.00 0.00
M-6 2,600,000.00 2,600,000.00 0.00 0.00 0.00 0.00
CE 3,121,176.68 3,121,176.68 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 208,019,276.68 208,019,276.68 0.00 2,561,701.39 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
A-1 1,059,906.65 69,516,093.35 0.98498205 1,059,906.65
A-2 1,501,794.74 63,498,205.26 0.97689547 1,501,794.74
A-3 0.00 35,000,000.00 1.00000000 0.00
M-1 0.00 12,481,000.00 1.00000000 0.00
M-2 0.00 10,921,000.00 1.00000000 0.00
M-3 0.00 3,120,000.00 1.00000000 0.00
M-4 0.00 2,600,000.00 1.00000000 0.00
M-5 0.00 2,600,000.00 1.00000000 0.00
M-6 0.00 2,600,000.00 1.00000000 0.00
CE (100.32) 3,121,277.00 1.00003214 (100.32)
P 0.00 100.00 1.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 2,561,601.07 205,457,675.61 0.98768575 2,561,601.07
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
A-1 70,576,000.00 1000.00000000 0.00000000 15.01794732 0.00000000
A-2 65,000,000.00 1000.00000000 0.00000000 23.10453446 0.00000000
A-3 35,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 12,481,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 10,921,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 3,120,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 2,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 2,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 2,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 3,121,176.68 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All Classes are per $1,000 denomination
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 15.01794732 984.98205268 0.98498205 15.01794732
A-2 0.00000000 23.10453446 976.89546554 0.97689547 23.10453446
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 (0.03214172) 1,000.03214172 1.00003214 (0.03214172)
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 70,576,000.00 1.58875% 70,576,000.00 96,554.34 0.00 0.00
A-2 65,000,000.00 1.31875% 65,000,000.00 73,813.37 0.00 0.00
A-3 35,000,000.00 1.68875% 35,000,000.00 50,897.05 0.00 0.00
M-1 12,481,000.00 1.81875% 12,481,000.00 19,547.07 0.00 0.00
M-2 10,921,000.00 2.86875% 10,921,000.00 26,978.28 0.00 0.00
M-3 3,120,000.00 3.11875% 3,120,000.00 8,379.04 0.00 0.00
M-4 2,600,000.00 4.21875% 2,600,000.00 9,445.31 0.00 0.00
M-5 2,600,000.00 4.61875% 2,600,000.00 10,340.87 0.00 0.00
M-6 2,600,000.00 6.00000% 2,600,000.00 13,000.00 0.00 0.00
CE 3,121,176.68 0.00000% 3,121,176.68 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 208,019,276.68 308,955.33 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.01 0.00 96,554.33 0.00 69,516,093.35
A-2 0.01 0.00 73,813.36 0.00 63,498,205.26
A-3 0.00 0.00 50,897.05 0.00 35,000,000.00
M-1 0.00 0.00 19,547.07 0.00 12,481,000.00
M-2 0.00 0.00 26,978.28 0.00 10,921,000.00
M-3 0.00 0.00 8,379.04 0.00 3,120,000.00
M-4 0.00 0.00 9,445.31 0.00 2,600,000.00
M-5 0.00 0.00 10,340.87 0.00 2,600,000.00
M-6 0.00 0.00 13,000.00 0.00 2,600,000.00
CE 0.00 0.00 859,746.13 0.00 3,121,277.00
P 0.00 0.00 22,469.49 0.00 100.00
R 0.00 0.00 0.00 0.00 0.00
Totals 0.02 0.00 1,191,170.93 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 70,576,000.00 1.58875% 1000.00000000 1.36809029 0.00000000 0.00000000
A-2 65,000,000.00 1.31875% 1000.00000000 1.13559031 0.00000000 0.00000000
A-3 35,000,000.00 1.68875% 1000.00000000 1.45420143 0.00000000 0.00000000
M-1 12,481,000.00 1.81875% 1000.00000000 1.56614614 0.00000000 0.00000000
M-2 10,921,000.00 2.86875% 1000.00000000 2.47031224 0.00000000 0.00000000
M-3 3,120,000.00 3.11875% 1000.00000000 2.68558974 0.00000000 0.00000000
M-4 2,600,000.00 4.21875% 1000.00000000 3.63281154 0.00000000 0.00000000
M-5 2,600,000.00 4.61875% 1000.00000000 3.97725769 0.00000000 0.00000000
M-6 2,600,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000
CE 3,121,176.68 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All Classes are per $1,000 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00000014 0.00000000 1.36809014 0.00000000 984.98205268
A-2 0.00000015 0.00000000 1.13559015 0.00000000 976.89546554
A-3 0.00000000 0.00000000 1.45420143 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 1.56614614 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.47031224 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 2.68558974 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.63281154 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 3.97725769 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000
CE 0.00000000 0.00000000 275.45577138 0.00000000 1000.03214172
P 0.00000000 0.00000000 224694.90000000 0.00000000 1000.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 3,750,573.46
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 76,804.66
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 22,469.49
Total Deposits 3,849,847.61
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 97,075.61
Payment of Interest and Principal 3,752,772.00
Total Withdrawals (Pool Distribution Amount) 3,849,847.61
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.02
SERVICING FEES
<s> <c>
Gross Servicing Fee 86,674.68
Credit Risk Manager Fee - Murrayhill 2,600.23
Master Servicing Fee 7,800.70
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 97,075.61
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 1,000.00 0.00 0.00 1,000.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 46 0 0 0 46
10,592,271.08 0.00 0.00 0.00 10,592,271.08
60 Days 4 0 0 0 4
624,521.77 0.00 0.00 0.00 624,521.77
90 Days 1 0 0 0 1
281,250.00 0.00 0.00 0.00 281,250.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 51 0 0 0 51
11,498,042.85 0.00 0.00 0.00 11,498,042.85
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 3.500761% 0.000000% 0.000000% 0.000000% 3.500761%
5.154919% 0.000000% 0.000000% 0.000000% 5.154919%
60 Days 0.304414% 0.000000% 0.000000% 0.000000% 0.304414%
0.303935% 0.000000% 0.000000% 0.000000% 0.303935%
90 Days 0.076104% 0.000000% 0.000000% 0.000000% 0.076104%
0.136875% 0.000000% 0.000000% 0.000000% 0.136875%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 3.881279% 0.000000% 0.000000% 0.000000% 3.881279%
5.595729% 0.000000% 0.000000% 0.000000% 5.595729%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Grp I No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 33 0 0 0 33
7,033,221.63 0.00 0.00 0.00 7,033,221.63
60 Days 1 0 0 0 1
85,894.39 0.00 0.00 0.00 85,894.39
90 Days 1 0 0 0 1
281,250.00 0.00 0.00 0.00 281,250.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 35 0 0 0 35
7,400,366.02 0.00 0.00 0.00 7,400,366.02
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 4.296875% 0.000000% 0.000000% 0.000000% 4.296875%
7.335348% 0.000000% 0.000000% 0.000000% 7.335348%
60 Days 0.130208% 0.000000% 0.000000% 0.000000% 0.130208%
0.089584% 0.000000% 0.000000% 0.000000% 0.089584%
90 Days 0.130208% 0.000000% 0.000000% 0.000000% 0.130208%
0.293332% 0.000000% 0.000000% 0.000000% 0.293332%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 4.557292% 0.000000% 0.000000% 0.000000% 4.557292%
7.718264% 0.000000% 0.000000% 0.000000% 7.718264%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Grp II No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 13 0 0 0 13
3,559,049.45 0.00 0.00 0.00 3,559,049.45
60 Days 3 0 0 0 3
538,627.38 0.00 0.00 0.00 538,627.38
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 16 0 0 0 16
4,097,676.83 0.00 0.00 0.00 4,097,676.83
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.380952% 0.000000% 0.000000% 0.000000% 2.380952%
3.247376% 0.000000% 0.000000% 0.000000% 3.247376%
60 Days 0.549451% 0.000000% 0.000000% 0.000000% 0.549451%
0.491459% 0.000000% 0.000000% 0.000000% 0.491459%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.930403% 0.000000% 0.000000% 0.000000% 2.930403%
3.738835% 0.000000% 0.000000% 0.000000% 3.738835%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 76,804.66
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 7.318799%
Weighted Average Net Coupon 6.801885%
Weighted Average Pass-Through Rate 6.741886%
Weighted Average Maturity(Stepdown Calculation ) 337
Beginning Scheduled Collateral Loan Count 1,324
Number Of Loans Paid In Full 10
Ending Scheduled Collateral Loan Count 1,314
Beginning Scheduled Collateral Balance 208,019,276.68
Ending Scheduled Collateral Balance 205,457,675.61
Ending Actual Collateral Balance at 30-Nov-2003 205,478,922.97
Monthly P &I Constant 1,444,316.91
Special Servicing Fee 0.00
Prepayment Penalties 22,469.49
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 205,457,675.61
Scheduled Principal 175,607.60
Unscheduled Principal 2,385,993.47
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 100.32
Overcollateralized reduction Amount 0.00
Specified O/C Amount 3,121,277.00
Overcollateralized Amount 3,121,277.00
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 100.32
Excess Cash Amount 0.00
Group Level Collateral Statement
Group Grp I Grp II Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 7.550152 7.119369 7.318799
Weighted Average Net Rate 7.038877 6.597595 6.801885
Weighted Average Maturity 315 357 337
Beginning Loan Count 771 553 1,324
Loans Paid In Full 3 7 10
Ending Loan Count 768 546 1,314
Beginning Scheduled Balance 96,301,837.80 111,717,438.88 208,019,276.68
Ending scheduled Balance 95,847,317.05 109,610,358.56 205,457,675.61
Record Date 11/30/2003 11/30/2003 11/30/2003
Principal And Interest Constant 706,636.64 737,680.27 1,444,316.91
Scheduled Principal 100,725.37 74,882.23 175,607.60
Unscheduled Principal 353,795.38 2,032,198.09 2,385,993.47
Scheduled Interest 605,911.27 662,798.04 1,268,709.31
Servicing Fees 40,125.75 46,548.93 86,674.68
Master Servicing Fees 3,611.31 4,189.39 7,800.70
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 2,108.82 3,423.60 5,532.42
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 560,065.39 608,636.12 1,168,701.51
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 6.978880 6.537594 6.741886