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
FIRST FRANKLIN MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2003-FF1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-104153-02
Pooling and Servicing Agreement) (Commission 54-2110371
(State or other File Number) 54-2110372
jurisdiction IRS EIN
of Incorporation)
c/o Wells Fargo Bank Minnesota, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On December 26, 2003 a distribution was made to holders of FIRST FRANKLIN
MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2003-FF1 Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Asset Backed Certificates, Series
2003-FF1 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.
FIRST FRANKLIN MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2003-FF1 Trust
By: Wells Fargo Bank Minnesota, N.A. as Trustee
By: /s/ Beth Belfield as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 12/31/03
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Certificates, Series 2003-FF1 Trust, relating to the
December 26, 2003 distribution.
EX-99.1
First Franklin Mortgage Loan Trust
Mortgage Pass-Through Certificates
Record Date: 11/30/03
Distribution Date: 12/26/03
FFM Series: 2003-FF1
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 32027NBX8 SEN 2.23400% 359,860,589.61 669,940.45 6,858,071.44
A-2 32027NBY6 SEN 2.26500% 120,879,585.85 228,160.21 1,019,508.60
M-1 32027NBZ3 MEZ 2.68800% 27,140,000.00 60,793.60 0.00
M-2 32027NCA7 MEZ 2.86875% 25,633,000.00 63,321.52 0.00
M-3F 32027NCB5 MEZ 5.59200% 8,500,000.00 39,610.00 0.00
M-3V 32027NCC3 MEZ 3.61875% 5,070,000.00 15,798.86 0.00
M-4 32027NCD1 MEZ 4.11875% 3,920,000.00 13,903.07 0.00
R-1 FFM3FF1R1 SEN 0.00000% 0.00 0.00 0.00
C FFM03FF1C SEN 0.00000% 5,126,520.77 1,900,540.65 0.00
P FFM03FF1P SEN 0.00000% 100.00 196,450.46 0.00
DIV_CERT SEN 0.00000% 0.01 5,262.15 0.00
Totals 556,129,796.24 3,193,780.97 7,877,580.04
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 353,002,518.17 7,528,011.89 0.00
A-2 0.00 119,860,077.25 1,247,668.81 0.00
M-1 0.00 27,140,000.00 60,793.60 0.00
M-2 0.00 25,633,000.00 63,321.52 0.00
M-3F 0.00 8,500,000.00 39,610.00 0.00
M-3V 0.00 5,070,000.00 15,798.86 0.00
M-4 0.00 3,920,000.00 13,903.07 0.00
R-1 0.00 0.00 0.00 0.00
C 0.00 5,126,520.77 1,900,540.65 0.00
P 0.00 100.00 196,450.46 0.00
DIV_CERT 0.00 0.01 5,262.15 0.00
Totals 0.00 548,252,216.20 11,071,361.01 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-1 394,105,000.00 359,860,589.61 0.00 6,858,071.44 0.00 0.00
A-2 133,626,000.00 120,879,585.85 0.00 1,019,508.60 0.00 0.00
M-1 27,140,000.00 27,140,000.00 0.00 0.00 0.00 0.00
M-2 25,633,000.00 25,633,000.00 0.00 0.00 0.00 0.00
M-3F 8,500,000.00 8,500,000.00 0.00 0.00 0.00 0.00
M-3V 5,070,000.00 5,070,000.00 0.00 0.00 0.00 0.00
M-4 3,920,000.00 3,920,000.00 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
C 5,125,991.09 5,126,520.77 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
DIV_CERT 0.00 0.01 0.00 0.00 0.00 0.00
Totals 603,120,091.09 556,129,796.24 0.00 7,877,580.04 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 6,858,071.44 353,002,518.17 0.89570677 6,858,071.44
A-2 1,019,508.60 119,860,077.25 0.89698170 1,019,508.60
M-1 0.00 27,140,000.00 1.00000000 0.00
M-2 0.00 25,633,000.00 1.00000000 0.00
M-3F 0.00 8,500,000.00 1.00000000 0.00
M-3V 0.00 5,070,000.00 1.00000000 0.00
M-4 0.00 3,920,000.00 1.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
C 0.00 5,126,520.77 1.00010333 0.00
P 0.00 100.00 1.00000000 0.00
DIV_CERT 0.00 0.01 0.00000000 0.00
Totals 7,877,580.04 548,252,216.20 0.90902662 7,877,580.04
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-1 394,105,000.00 913.10840921 0.00000000 17.40163520 0.00000000
A-2 133,626,000.00 904.61127213 0.00000000 7.62956760 0.00000000
M-1 27,140,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 25,633,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3F 8,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3V 5,070,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 3,920,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
C 5,125,991.09 1000.10333221 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
DIV_CERT 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All Classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 17.40163520 895.70677401 0.89570677 17.40163520
A-2 0.00000000 7.62956760 896.98170453 0.89698170 7.62956760
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-3F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3V 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 1,000.10333221 1.00010333 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
DIV_CERT 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-1 394,105,000.00 2.23400% 359,860,589.61 669,940.46 0.00 0.00
A-2 133,626,000.00 2.26500% 120,879,585.85 228,160.22 0.00 0.00
M-1 27,140,000.00 2.68800% 27,140,000.00 60,793.60 0.00 0.00
M-2 25,633,000.00 2.86875% 25,633,000.00 63,321.52 0.00 0.00
M-3F 8,500,000.00 5.59200% 8,500,000.00 39,610.00 0.00 0.00
M-3V 5,070,000.00 3.61875% 5,070,000.00 15,798.86 0.00 0.00
M-4 3,920,000.00 4.11875% 3,920,000.00 13,903.07 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
C 5,125,991.09 0.00000% 5,126,520.77 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
DIV_CERT 0.00 0.00000% 0.01 0.00 0.00 0.00
Totals 603,120,091.09 1,091,527.73 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 0.02 0.00 669,940.45 0.00 353,002,518.17
A-2 0.01 0.00 228,160.21 0.00 119,860,077.25
M-1 0.00 0.00 60,793.60 0.00 27,140,000.00
M-2 0.00 0.00 63,321.52 0.00 25,633,000.00
M-3F 0.00 0.00 39,610.00 0.00 8,500,000.00
M-3V 0.00 0.00 15,798.86 0.00 5,070,000.00
M-4 0.00 0.00 13,903.07 0.00 3,920,000.00
R-1 0.00 0.00 0.00 0.00 0.00
C 0.00 0.00 1,900,540.65 0.00 5,126,520.77
P 0.00 0.00 196,450.46 0.00 100.00
DIV_CERT 0.00 0.00 5,262.15 0.00 0.01
Totals 0.03 0.00 3,193,780.97 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-1 394,105,000.00 2.23400% 913.10840921 1.69990348 0.00000000 0.00000000
A-2 133,626,000.00 2.26500% 904.61127213 1.70745379 0.00000000 0.00000000
M-1 27,140,000.00 2.68800% 1000.00000000 2.24000000 0.00000000 0.00000000
M-2 25,633,000.00 2.86875% 1000.00000000 2.47031249 0.00000000 0.00000000
M-3F 8,500,000.00 5.59200% 1000.00000000 4.66000000 0.00000000 0.00000000
M-3V 5,070,000.00 3.61875% 1000.00000000 3.11614596 0.00000000 0.00000000
M-4 3,920,000.00 4.11875% 1000.00000000 3.54670153 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
C 5,125,991.09 0.00000% 1000.10333221 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
DIV_CERT 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) 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 0.00000005 0.00000000 1.69990345 0.00000000 895.70677401
A-2 0.00000007 0.00000000 1.70745371 0.00000000 896.98170453
M-1 0.00000000 0.00000000 2.24000000 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.47031249 0.00000000 1000.00000000
M-3F 0.00000000 0.00000000 4.66000000 0.00000000 1000.00000000
M-3V 0.00000000 0.00000000 3.11614596 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.54670153 0.00000000 1000.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 370.76550010 0.00000000 1000.10333221
P 0.00000000 0.00000000 1964504.60000000 0.00000000 1000.00000000
DIV_CERT 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 11,119,028.63
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 196,450.46
Total Deposits 11,315,479.09
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 244,118.08
Payment of Interest and Principal 11,071,361.01
Total Withdrawals (Pool Distribution Amount) 11,315,479.09
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 0.03
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.03
SERVICING FEES
<s> <c>
Gross Servicing Fee 231,721.02
Back-up Master Servicing Fee 9,268.82
Wells Fargo 3,128.24
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 244,118.08
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Financial Guaranty 0.00 251.02 0.00 0.00
Reserve Fund 1,000.00 251.02 251.02 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 55 0 0 0 55
7,214,198.82 0.00 0.00 0.00 7,214,198.82
60 Days 22 0 0 0 22
2,886,324.68 0.00 0.00 0.00 2,886,324.68
90 Days 15 0 0 0 15
2,772,829.05 0.00 0.00 0.00 2,772,829.05
120 Days 12 0 0 0 12
1,073,422.70 0.00 0.00 0.00 1,073,422.70
150 Days 13 0 0 0 13
1,677,811.20 0.00 0.00 0.00 1,677,811.20
180+ Days 25 0 0 0 25
3,849,043.11 0.00 0.00 0.00 3,849,043.11
Totals 142 0 0 0 142
19,473,629.56 0.00 0.00 0.00 19,473,629.56
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 1.684017% 0.000000% 0.000000% 0.000000% 1.684017%
1.315854% 0.000000% 0.000000% 0.000000% 1.315854%
60 Days 0.673607% 0.000000% 0.000000% 0.000000% 0.673607%
0.526459% 0.000000% 0.000000% 0.000000% 0.526459%
90 Days 0.459277% 0.000000% 0.000000% 0.000000% 0.459277%
0.505758% 0.000000% 0.000000% 0.000000% 0.505758%
120 Days 0.367422% 0.000000% 0.000000% 0.000000% 0.367422%
0.195790% 0.000000% 0.000000% 0.000000% 0.195790%
150 Days 0.398040% 0.000000% 0.000000% 0.000000% 0.398040%
0.306029% 0.000000% 0.000000% 0.000000% 0.306029%
180+ Days 0.765462% 0.000000% 0.000000% 0.000000% 0.765462%
0.702057% 0.000000% 0.000000% 0.000000% 0.702057%
Totals 4.347826% 0.000000% 0.000000% 0.000000% 4.347826%
3.551947% 0.000000% 0.000000% 0.000000% 3.551947%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 4 0 0 0 4
309,727.48 0.00 0.00 0.00 309,727.48
60 Days 3 0 0 0 3
263,896.10 0.00 0.00 0.00 263,896.10
90 Days 1 0 0 0 1
74,111.48 0.00 0.00 0.00 74,111.48
120 Days 3 0 0 0 3
312,906.32 0.00 0.00 0.00 312,906.32
150 Days 1 0 0 0 1
110,869.31 0.00 0.00 0.00 110,869.31
180 Days 3 0 0 0 3
130,172.49 0.00 0.00 0.00 130,172.49
Totals 15 0 0 0 15
1,201,683.18 0.00 0.00 0.00 1,201,683.18
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.698080% 0.000000% 0.000000% 0.000000% 0.698080%
0.465105% 0.000000% 0.000000% 0.000000% 0.465105%
60 Days 0.523560% 0.000000% 0.000000% 0.000000% 0.523560%
0.396282% 0.000000% 0.000000% 0.000000% 0.396282%
90 Days 0.174520% 0.000000% 0.000000% 0.000000% 0.174520%
0.111290% 0.000000% 0.000000% 0.000000% 0.111290%
120 Days 0.523560% 0.000000% 0.000000% 0.000000% 0.523560%
0.469879% 0.000000% 0.000000% 0.000000% 0.469879%
150 Days 0.174520% 0.000000% 0.000000% 0.000000% 0.174520%
0.166488% 0.000000% 0.000000% 0.000000% 0.166488%
180 Days 0.523560% 0.000000% 0.000000% 0.000000% 0.523560%
0.195475% 0.000000% 0.000000% 0.000000% 0.195475%
Totals 2.617801% 0.000000% 0.000000% 0.000000% 2.617801%
1.804519% 0.000000% 0.000000% 0.000000% 1.804519%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 49 0 0 0 49
5,865,588.85 0.00 0.00 0.00 5,865,588.85
60 Days 19 0 0 0 19
2,622,428.58 0.00 0.00 0.00 2,622,428.58
90 Days 11 0 0 0 11
1,438,898.26 0.00 0.00 0.00 1,438,898.26
120 Days 9 0 0 0 9
760,516.38 0.00 0.00 0.00 760,516.38
150 Days 11 0 0 0 11
1,243,002.04 0.00 0.00 0.00 1,243,002.04
180 Days 19 0 0 0 19
2,173,095.74 0.00 0.00 0.00 2,173,095.74
Totals 118 0 0 0 118
14,103,529.85 0.00 0.00 0.00 14,103,529.85
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.057095% 0.000000% 0.000000% 0.000000% 2.057095%
1.711532% 0.000000% 0.000000% 0.000000% 1.711532%
60 Days 0.797649% 0.000000% 0.000000% 0.000000% 0.797649%
0.765204% 0.000000% 0.000000% 0.000000% 0.765204%
90 Days 0.461797% 0.000000% 0.000000% 0.000000% 0.461797%
0.419859% 0.000000% 0.000000% 0.000000% 0.419859%
120 Days 0.377834% 0.000000% 0.000000% 0.000000% 0.377834%
0.221913% 0.000000% 0.000000% 0.000000% 0.221913%
150 Days 0.461797% 0.000000% 0.000000% 0.000000% 0.461797%
0.362698% 0.000000% 0.000000% 0.000000% 0.362698%
180 Days 0.797649% 0.000000% 0.000000% 0.000000% 0.797649%
0.634092% 0.000000% 0.000000% 0.000000% 0.634092%
Totals 4.953820% 0.000000% 0.000000% 0.000000% 4.953820%
4.115298% 0.000000% 0.000000% 0.000000% 4.115298%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
482,882.49 0.00 0.00 0.00 482,882.49
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
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 1 0 0 0 1
482,882.49 0.00 0.00 0.00 482,882.49
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%
2.483438% 0.000000% 0.000000% 0.000000% 2.483438%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
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 2.380952% 0.000000% 0.000000% 0.000000% 2.380952%
2.483438% 0.000000% 0.000000% 0.000000% 2.483438%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 4 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
556,000.00 0.00 0.00 0.00 556,000.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 3 0 0 0 3
1,259,819.31 0.00 0.00 0.00 1,259,819.31
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 1 0 0 0 1
323,939.85 0.00 0.00 0.00 323,939.85
180 Days 3 0 0 0 3
1,545,774.88 0.00 0.00 0.00 1,545,774.88
Totals 8 0 0 0 8
3,685,534.04 0.00 0.00 0.00 3,685,534.04
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.371747% 0.000000% 0.000000% 0.000000% 0.371747%
0.465251% 0.000000% 0.000000% 0.000000% 0.465251%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 1.115242% 0.000000% 0.000000% 0.000000% 1.115242%
1.054196% 0.000000% 0.000000% 0.000000% 1.054196%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.371747% 0.000000% 0.000000% 0.000000% 0.371747%
0.271067% 0.000000% 0.000000% 0.000000% 0.271067%
180 Days 1.115242% 0.000000% 0.000000% 0.000000% 1.115242%
1.293479% 0.000000% 0.000000% 0.000000% 1.293479%
Totals 2.973978% 0.000000% 0.000000% 0.000000% 2.973978%
3.083993% 0.000000% 0.000000% 0.000000% 3.083993%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 0.000000%
Weighted Average Net Coupon 6.483511%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity(Stepdown Calculation ) 348
Beginning Scheduled Collateral Loan Count 3,304
Number Of Loans Paid In Full 38
Ending Scheduled Collateral Loan Count 3,266
Beginning Scheduled Collateral Balance 556,129,796.23
Ending Scheduled Collateral Balance 548,252,216.19
Ending Actual Collateral Balance at 30-Nov-2003 548,252,216.19
Monthly P &I Constant 3,555,004.06
Special Servicing Fee 0.00
Prepayment Penalties 196,450.46
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 548,252,216.19
Scheduled Principal 318,555.11
Unscheduled Principal 7,559,024.93
Miscellaneous Reporting
Credit Enhancement 11.93957
Stepdown Date in Effect NO
Trigger Event NO
Overcollaterized Target Amount 5,126,520.77
Overcollaterized Increase Amount 0.00
Overcollaterized Reduction Amount 0.00
Overcollaterization Amount 5,126,520.77
Specified Overcollaterization Amount 5,126,520.77
Overcollaterized Deficiency Amount 0.00
Overcollaterized Release Amount 0.00
Extra Principal Amount 0.00
Excess Cash 1,900,540.65
Soldier/Sailor Interest Shortfall 0.00
Group Level Collateral Statement
Group Group 1 Group 2 Group 3
Collateral Description Mixed Fixed Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 7.524430 7.031169 7.008101
Weighted Average Net Rate 7.044430 6.519250 6.528101
Weighted Average Maturity 348 348 349
Beginning Loan Count 580 2,411 42
Loans Paid In Full 7 29 0
Ending Loan Count 573 2,382 42
Beginning Scheduled Balance 67,690,084.87 348,470,828.85 19,464,587.31
Ending scheduled Balance 66,592,997.81 342,709,844.47 19,444,115.31
Record Date 11/30/2003 11/30/2003 11/30/2003
Principal And Interest Constant 488,766.88 2,228,053.48 133,036.49
Scheduled Principal 64,325.79 186,255.61 19,361.66
Unscheduled Principal 1,032,761.27 5,574,728.77 1,110.34
Scheduled Interest 424,441.09 2,041,797.87 113,674.83
Servicing Fees 27,076.05 148,657.41 7,785.83
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 380.77 1,960.14 109.49
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 1,128.18 5,807.83 324.41
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 395,856.09 1,885,372.49 105,455.10
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
Group Level Collateral Statement
Group Group 4 Total
Collateral Description Mixed ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 6.537876 0.000000
Weighted Average Net Rate 6.057876 6.483511
Weighted Average Maturity 349 348
Beginning Loan Count 271 3,304
Loans Paid In Full 2 38
Ending Loan Count 269 3,266
Beginning Scheduled Balance 120,504,295.20 556,129,796.23
Ending scheduled Balance 119,505,258.60 548,252,216.19
Record Date 11/30/2003 11/30/2003
Principal And Interest Constant 705,147.21 3,555,004.06
Scheduled Principal 48,612.05 318,555.11
Unscheduled Principal 950,424.55 7,559,024.93
Scheduled Interest 656,535.16 3,236,448.95
Servicing Fees 48,201.73 231,721.02
Master Servicing Fees 0.00 0.00
Trustee Fee 677.84 3,128.24
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 2,008.40 9,268.82
Pool Insurance Fee 0.00 0.00
Spread Fee 1 0.00 0.00
Spread Fee 2 0.00 0.00
Spread Fee 3 0.00 0.00
Net Interest 605,647.19 2,992,330.87
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00