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 : January 15, 2004
(Date of earliest event reported)
Commission File No.: 333-83930-02
Wachovia Commercial Mortgage Securities, Inc.
Commercial Mortgage Pass-Through Certificates
Series 2002-C2
(Exact name of registrant as specified in its charter)
New York (governing law of Pooling and Servicing Agreement)
(State of Incorporation)
52-2383394
52-2383395
(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 January 15, 2004 a distribution was made to holders of Wachovia
Commercial Mortgage Securities, Inc.,Commercial Mortgage Pass-Through
Certificates, Series 2002-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 2002-C2, relating to the
January 15, 2004 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.
Wachovia Commercial Mortgage Securities, Inc
Commercial Mortgage Pass-Through Certificates
Series 2002-C2
By: Wells Fargo Bank Minnesota, N.A., as Trustee
By: /s/ Beth Belfield, Assistant Vice President
By: Beth Belfield, Assistant Vice President
Date: January 22, 2004
INDEX TO EXHIBITS
Exhibit Number Description
(EX-99.1) Monthly report distributed to holders of Commercial Mortgage
Pass-Through Certificates, Series 2002-C2, relating to the
January 15, 2004 distribution.
EX-99.1
Wells Fargo Bank Minnesota, N.A.
Corporate Trust Services
9062 Old Annapolis Rd
Columbia, MD 21045-1951
Wachovia Commercial Mortgage Securities, Inc.
Commercial Mortgage Pass-Through Certificates
Series 2002-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: 01/15/2004
Record Date: 12/31/2003
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 - 18
Specially Serviced Loan Detail 19 - 20
Modified Loan Detail 21
Liquidated Loan Detail 22
Depositor
Wachovia Commercial Mortgage
Securities, Inc.
301 South College Street
Charlotte, NC 28288-1016
Contact: Tim Steward
Phone Number: (704) 593-7822
Master Servicer
Wachovia Bank, National Association
8739 Research Drive
URP 4, NC1075
Charlotte, NC 28262
Contact: Timothy S.Ryan
Phone Number: (704) 593-7878
Special Servicer
Lend Lease Asset Management, LP
700 N. Pearl Street
Suite 1900
Dallas, TX 75201-7424
Contact: Michael O'Hanlon
Phone Number: (214) 999-7009
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 929766BH5 3.002000% 36,056,000.00 30,430,535.83 404,614.35
A-2 929766BJ1 4.043000% 80,000,000.00 76,378,699.39 260,463.87
A-3 929766CR2 4.440000% 88,219,000.00 88,219,000.00 0.00
A-4 929766CS0 4.980000% 471,716,000.00 471,716,000.00 0.00
B 929766BK8 5.126000% 32,815,000.00 32,815,000.00 0.00
C 929766BL6 5.215000% 10,939,000.00 10,939,000.00 0.00
D 929766BM4 5.274000% 28,439,000.00 28,439,000.00 0.00
E 929766BN2 5.373000% 8,751,000.00 8,751,000.00 0.00
F 929766BP7 5.719000% 10,938,000.00 10,938,000.00 0.00
G 929766BQ5 5.768000% 15,314,000.00 15,314,000.00 0.00
H 929766BR3 6.113000% 13,126,000.00 13,126,000.00 0.00
J 929766BS1 4.942000% 16,408,000.00 16,408,000.00 0.00
K 929766BT9 4.942000% 15,313,000.00 15,313,000.00 0.00
L 929766BU6 4.942000% 4,376,000.00 4,376,000.00 0.00
M 929766BV4 4.942000% 8,751,000.00 8,751,000.00 0.00
N 929766BW2 4.942000% 7,656,000.00 7,656,000.00 0.00
O 929766BX0 4.942000% 6,165,000.00 6,165,000.00 0.00
P 929766CP6 4.942000% 20,087,992.76 20,087,992.76 0.00
Z 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 875,069,992.76 865,823,227.98 665,078.22
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 929766BH5 76,127.06 0.00 0.00 480,741.41 30,025,921.48 23.01%
A-2 929766BJ1 257,332.57 0.00 0.00 517,796.44 76,118,235.52 23.01%
A-3 929766CR2 326,410.30 0.00 0.00 326,410.30 88,219,000.00 23.01%
A-4 929766CS0 1,957,621.40 0.00 0.00 1,957,621.40 471,716,000.00 23.01%
B 929766BK8 140,174.74 0.00 0.00 140,174.74 32,815,000.00 19.22%
C 929766BL6 47,539.07 0.00 0.00 47,539.07 10,939,000.00 17.95%
D 929766BM4 124,989.41 0.00 0.00 124,989.41 28,439,000.00 14.67%
E 929766BN2 39,182.60 0.00 0.00 39,182.60 8,751,000.00 13.65%
F 929766BP7 52,128.69 0.00 0.00 52,128.69 10,938,000.00 12.39%
G 929766BQ5 73,609.29 0.00 0.00 73,609.29 15,314,000.00 10.62%
H 929766BR3 66,866.03 0.00 0.00 66,866.03 13,126,000.00 9.10%
J 929766BS1 67,573.61 0.00 0.00 67,573.61 16,408,000.00 7.21%
K 929766BT9 63,064.04 0.00 0.00 63,064.04 15,313,000.00 5.44%
L 929766BU6 18,021.83 0.00 0.00 18,021.83 4,376,000.00 4.93%
M 929766BV4 36,039.54 0.00 0.00 36,039.54 8,751,000.00 3.92%
N 929766BW2 31,529.96 0.00 0.00 31,529.96 7,656,000.00 3.03%
O 929766BX0 25,389.53 0.00 0.00 25,389.53 6,165,000.00 2.32%
P 929766CP6 82,729.05 0.00 0.00 82,729.05 20,087,992.76 0.00%
Z 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 3,486,328.72 0.00 0.00 4,151,406.94 865,158,149.76
Original Beginning
Pass-Through Notional Notional
Class CUSIP Rate Amount Amount
<s> <c> <c> <c> <c>
IO-I 929766BY8 0.265891% 875,069,992.76 865,823,227.98
IO-II 929766BZ5 1.895286% 488,120,000.01 448,598,000.00
IO-III 929766CA9 1.585467% 336,495,000.00 336,495,000.00
Ending
Interest Prepayment Total Notional
Class CUSIP Distribution Penalties Distribution Amount
<s> <c> <c> <c> <c> <c>
IO-I 929766BY8 191,845.37 0.00 191,845.37 865,158,149.76
IO-II 929766BZ5 708,518.00 0.00 708,518.00 448,598,000.00
IO-III 929766CA9 444,584.85 0.00 444,584.85 336,495,000.00
<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 929766BH5 843.97980447 11.22183132 2.11135622 0.00000000 0.00000000 832.75797315
A-2 929766BJ1 954.73374238 3.25579837 3.21665712 0.00000000 0.00000000 951.47794400
A-3 929766CR2 1,000.00000000 0.00000000 3.70000000 0.00000000 0.00000000 1,000.00000000
A-4 929766CS0 1,000.00000000 0.00000000 4.15000000 0.00000000 0.00000000 1,000.00000000
B 929766BK8 1,000.00000000 0.00000000 4.27166662 0.00000000 0.00000000 1,000.00000000
C 929766BL6 1,000.00000000 0.00000000 4.34583326 0.00000000 0.00000000 1,000.00000000
D 929766BM4 1,000.00000000 0.00000000 4.39500018 0.00000000 0.00000000 1,000.00000000
E 929766BN2 1,000.00000000 0.00000000 4.47749971 0.00000000 0.00000000 1,000.00000000
F 929766BP7 1,000.00000000 0.00000000 4.76583379 0.00000000 0.00000000 1,000.00000000
G 929766BQ5 1,000.00000000 0.00000000 4.80666645 0.00000000 0.00000000 1,000.00000000
H 929766BR3 1,000.00000000 0.00000000 5.09416654 0.00000000 0.00000000 1,000.00000000
J 929766BS1 1,000.00000000 0.00000000 4.11833313 0.00000000 0.00000000 1,000.00000000
K 929766BT9 1,000.00000000 0.00000000 4.11833344 0.00000000 0.00000000 1,000.00000000
L 929766BU6 1,000.00000000 0.00000000 4.11833410 0.00000000 0.00000000 1,000.00000000
M 929766BV4 1,000.00000000 0.00000000 4.11833390 0.00000000 0.00000000 1,000.00000000
N 929766BW2 1,000.00000000 0.00000000 4.11833333 0.00000000 0.00000000 1,000.00000000
O 929766BX0 1,000.00000000 0.00000000 4.11833414 0.00000000 0.00000000 1,000.00000000
P 929766CP6 1,000.00000000 0.00000000 4.11833332 0.00000000 0.00000000 1,000.00000000
Z 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-I 929766BY8 989.43311409 0.21923431 0.00000000 988.67308549
IO-II 929766BZ5 919.03220518 1.45152422 0.00000000 919.03220518
IO-III 929766CA9 1,000.00000000 1.32122275 0.00000000 1,000.00000000
Reconciliation Detail
Advance Summary
<s> <c>
P & I Advances Outstanding 1,746,403.70
Servicing Advances Outstanding 0.00
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 30,512.05
Less Delinquent Servicing Fees 10,553.45
Less Reductions to Servicing Fees 0.00
Plus Servicing Fees for Delinquent Payments Received 9,840.73
Plus Adjustments for Prior Servicing Calculation 0.00
Total Servicing Fees Collected 29,799.33
Certificate Interest Reconciliation
Class Accrued Net Aggregate Deferred Distributable Distributable Additional Interest Remaining Unpaid
Certificate Prepayment Interest Certificate Certificate Trust Fund Distribution Distributable
Interest Interest Shortfall Amount Interest Interest Expenses Certificate
Adjustment Interest
<s> <c> <c> <c> <c> <c> <c> <c>
A-1 76,127.06 0.00 0.00 76,127.06 0.00 0.00 76,127.06 0.00
A-2 257,332.57 0.00 0.00 257,332.57 0.00 0.00 257,332.57 0.00
A-3 326,410.30 0.00 0.00 326,410.30 0.00 0.00 326,410.30 0.00
A-4 1,957,621.40 0.00 0.00 1,957,621.40 0.00 0.00 1,957,621.40 0.00
IO-I 191,845.37 0.00 0.00 191,845.37 0.00 0.00 191,845.37 0.00
IO-II 708,518.00 0.00 0.00 708,518.00 0.00 0.00 708,518.00 0.00
IO-III 444,584.85 0.00 0.00 444,584.85 0.00 0.00 444,584.85 0.00
B 140,174.74 0.00 0.00 140,174.74 0.00 0.00 140,174.74 0.00
C 47,539.07 0.00 0.00 47,539.07 0.00 0.00 47,539.07 0.00
D 124,989.41 0.00 0.00 124,989.41 0.00 0.00 124,989.41 0.00
E 39,182.60 0.00 0.00 39,182.60 0.00 0.00 39,182.60 0.00
F 52,128.69 0.00 0.00 52,128.69 0.00 0.00 52,128.69 0.00
G 73,609.29 0.00 0.00 73,609.29 0.00 0.00 73,609.29 0.00
H 66,866.03 0.00 0.00 66,866.03 0.00 0.00 66,866.03 0.00
J 67,573.61 0.00 0.00 67,573.61 0.00 0.00 67,573.61 0.00
K 63,064.04 0.00 0.00 63,064.04 0.00 0.00 63,064.04 0.00
L 18,021.83 0.00 0.00 18,021.83 0.00 0.00 18,021.83 0.00
M 36,039.54 0.00 0.00 36,039.54 0.00 0.00 36,039.54 0.00
N 31,529.96 0.00 0.00 31,529.96 0.00 0.00 31,529.96 0.00
O 25,389.53 0.00 0.00 25,389.53 0.00 0.00 25,389.53 0.00
P 82,729.05 0.00 0.00 82,729.05 0.00 0.00 82,729.05 197.79
Total 4,831,276.94 0.00 0.00 4,831,276.94 0.00 0.00 4,831,276.94 197.79
Other Required Information
<s> <c>
Available Distribution Amount (1) 5,496,355.16
Aggregate Number of Outstanding Loans 104
Aggregate Stated Principal Balance of Loans Before Distribution 865,823,227.98
Aggregate Stated Principal Balance of Loans After Distribution 865,158,149.76
Aggregate Unpaid Principal Balance of Loans 865,359,747.97
Aggregate Amount of Servicing Fee 29,799.33
Aggregate Amount of Special Servicing Fee 0.00
Aggregate Amount of Trustee Fee 2,020.25
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
NONE
Cash Reconciliation Detail
<s> <c> <c>
Total Funds Collected
Interest:
Scheduled Interest 4,863,809.23
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 4,863,809.23
Principal:
Scheduled Principal 665,078.22
Unscheduled Principal 0.00
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 0.00
Principal Adjustments 0.00
Total Principal Collected 665,078.22
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 5,528,887.45
Total Funds Distributed
Fees:
Master Servicing Fee 30,512.05
Trustee Fee 2,020.25
Certificate Administration Fee 0.00
Insurer Fee 0.00
Miscellaneous Fee 0.00
Total Fees 32,532.31
Additional Trust Fund Expenses:
Reimbursement for Interest on Advances 0.00
ASER Amount 0.00
Special Servicing Fee 0.00
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 0.00
Interest Reserve Deposit 0.00
Payments to Certificateholders & Others:
Interest Distribution 4,831,276.94
Principal Distribution 665,078.22
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 5,496,355.16
Total Funds Distributed 5,528,887.47
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> <c>
A-1 929766BH5 X Aaa AAA X Aaa AAA
A-2 929766BJ1 X Aaa AAA X Aaa AAA
A-3 929766CR2 X Aaa AAA X Aaa AAA
A-4 929766CS0 X Aaa AAA X Aaa AAA
IO-I 929766BY8 X Aaa AAA X Aaa AAA
IO-II 929766BZ5 X Aaa AAA X Aaa AAA
IO-III 929766CA9 X Aaa AAA X Aaa AAA
B 929766BK8 X Aa2 AA X Aa2 AA
C 929766BL6 X Aa3 AA- X Aa3 AA-
D 929766BM4 X A2 A X A2 A
E 929766BN2 X A3 A- X A3 A-
F 929766BP7 X Baa1 BBB+ X Baa1 BBB+
G 929766BQ5 X Baa2 BBB X Baa2 BBB
H 929766BR3 X Baa3 BBB- X Baa3 BBB-
J 929766BS1 X Ba1 BB+ X Ba1 BB+
K 929766BT9 X Ba2 BB X Ba2 BB
L 929766BU6 X Ba3 BB- X Ba3 BB-
M 929766BV4 X B1 B+ X B1 B+
N 929766BW2 X B2 B X B2 B
O 929766BX0 X B3 B- X B3 B-
P 929766CP6 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 1,000,000 0 0.00 0.00 0 0.0000 0.000000
1,000,001 to 2,000,000 6 9,703,779.98 1.12 105 6.7062 1.847652
2,000,001 to 3,000,000 16 40,671,041.56 4.70 115 6.8943 1.526895
3,000,001 to 4,000,000 19 68,039,964.46 7.86 100 6.5215 1.369723
4,000,001 to 5,000,000 3 13,358,315.77 1.54 104 6.7894 1.102389
5,000,001 to 6,000,000 11 58,475,162.44 6.76 108 6.9780 1.581123
6,000,001 to 7,000,000 7 44,400,007.96 5.13 104 6.6615 1.379717
7,000,001 to 8,000,000 8 60,054,558.09 6.94 96 6.2563 1.673118
8,000,001 to 9,000,000 2 17,087,284.77 1.98 105 6.4404 1.398806
9,000,001 to 10,000,000 3 28,956,514.77 3.35 104 6.5515 1.517227
10,000,001 to 15,000,000 19 237,368,066.99 27.44 102 6.3763 1.468179
15,000,001 to 20,000,000 1 16,565,370.41 1.91 105 6.1000 1.230000
20,000,001 to 25,000,000 4 92,497,606.68 10.69 90 6.1983 1.533280
25,000,001 to 30,000,000 1 26,095,140.56 3.02 69 5.6800 1.534779
30,000,001 to 35,000,000 1 34,517,312.06 3.99 103 6.7400 1.350000
35,000,001 to 40,000,000 2 72,368,023.26 8.36 100 7.1560 1.493656
40,000,001 and greater 1 45,000,000.00 5.20 104 6.6250 1.970000
Totals 104 865,158,149.76 100.00 100 6.5236 1.507322
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 1 7,978,429.80 0.92 42 6.6000 1.220000
Arizona 2 12,624,295.43 1.46 104 6.0247 1.519114
California 29 309,193,666.12 35.74 101 6.6143 1.572376
Colorado 2 9,844,407.45 1.14 105 6.8871 1.344343
Florida 9 66,737,949.45 7.71 105 6.3251 1.435979
Georgia 4 19,557,337.42 2.26 105 6.7751 1.287501
Illinois 5 25,834,865.42 2.99 105 6.3745 1.758579
Maryland 4 94,278,196.63 10.90 101 6.8667 1.384067
Massachusetts 3 12,842,873.97 1.48 104 6.4300 1.713056
Michigan 2 14,919,101.82 1.72 105 6.8675 1.215393
Minnesota 1 5,525,122.86 0.64 103 6.8750 1.750000
Mississippi 1 2,156,708.99 0.25 103 7.2000 1.610000
Missouri 1 2,753,347.03 0.32 105 7.4000 2.490000
Nevada 1 14,995,695.44 1.73 105 5.8500 1.200000
New Hampshire 1 6,018,442.13 0.70 101 7.3700 1.020000
New Mexico 2 6,037,095.12 0.70 156 6.6972 1.632726
North Carolina 2 5,749,993.51 0.66 104 6.5432 1.394484
Ohio 3 8,399,927.21 0.97 169 7.7219 1.825460
Oklahoma 4 13,933,256.76 1.61 105 6.5587 1.638081
Oregon 1 3,671,792.46 0.42 89 7.7500 1.740000
Pennsylvania 2 7,572,719.23 0.88 104 6.4886 1.200738
Rhode Island 1 45,000,000.00 5.20 104 6.6250 1.970000
South Carolina 1 1,499,183.67 0.17 105 6.1900 1.960000
Tennessee 1 1,776,560.34 0.21 104 6.7500 1.440000
Texas 13 56,816,384.10 6.57 98 6.2575 1.366461
Utah 1 3,455,244.65 0.40 105 6.5000 1.370000
Virginia 6 51,283,792.05 5.93 77 6.0638 1.426627
Washington 4 48,540,956.77 5.61 91 5.9209 1.375579
Washington,DC 1 6,160,803.93 0.71 105 6.0000 1.070000
Totals 108 865,158,149.76 100.00 100 6.5236 1.507322
<Table>
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 13 65,397,721.81 7.56 101 6.6518 0.967206
1.20 to 1.24 4 44,745,666.41 5.17 94 6.1438 1.218163
1.25 to 1.29 5 45,339,179.55 5.24 103 6.5949 1.279884
1.30 to 1.34 12 108,506,280.62 12.54 92 6.5847 1.316572
1.35 to 1.39 10 79,361,156.23 9.17 104 6.7242 1.359559
1.40 to 1.44 6 35,400,905.58 4.09 104 6.6168 1.430502
1.45 to 1.49 7 82,488,659.84 9.53 104 6.4649 1.471730
1.50 to 1.54 7 97,191,237.17 11.23 95 6.1469 1.516567
1.55 to 1.59 3 18,102,502.80 2.09 105 6.1185 1.572289
1.60 to 1.64 5 29,467,471.24 3.41 105 6.1505 1.610170
1.65 to 1.69 5 56,865,865.39 6.57 97 6.8150 1.658670
1.70 to 1.74 4 22,072,011.83 2.55 114 6.8929 1.735399
1.75 to 1.79 3 20,432,284.23 2.36 104 6.4036 1.771773
1.80 to 1.89 8 63,729,502.63 7.37 93 6.4458 1.836880
1.90 to 1.99 7 78,346,069.91 9.06 104 6.5958 1.959375
2.0 to 2.2 1 5,007,410.30 0.58 213 7.9400 2.060000
2.2 or greater 4 12,704,224.22 1.47 105 7.2506 2.555505
Totals 104 865,158,149.76 100.00 100 6.5236 1.507322
</Table>
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 3 14,589,226.78 1.69 142 6.8567 1.863730
Lodging 10 48,429,408.09 5.60 105 7.4000 1.638061
Mixed Use 2 6,648,713.11 0.77 105 6.4771 1.407314
Mobile Home Park 1 5,124,295.43 0.59 103 6.5000 1.430000
Multi-Family 30 200,264,769.54 23.15 92 6.3658 1.338755
Office 22 200,902,094.34 23.22 95 6.2415 1.587843
Retail 40 389,199,642.47 44.99 105 6.6300 1.525592
Totals 108 865,158,149.76 100.00 100 6.5236 1.507322
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>
5.999% or less 11 128,824,579.87 14.89 82 5.8209 1.548284
6.000% to 6.249% 16 136,474,417.48 15.77 102 6.0671 1.451525
6.250% to 6.499% 20 143,119,869.77 16.54 103 6.3646 1.414657
6.500% to 6.749% 19 208,177,505.35 24.06 103 6.6136 1.594079
6.750% to 6.999% 10 59,849,068.14 6.92 103 6.8046 1.433261
7.700% to 7.249% 11 105,981,125.81 12.25 101 7.1338 1.473126
7.250% to 7.499% 14 71,486,257.53 8.26 108 7.3748 1.542017
7.500% or greater 3 11,245,325.81 1.30 147 7.8141 1.784369
Totals 104 865,158,149.76 100.00 100 6.5236 1.507322
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 102 856,478,947.00 99.00 100 6.5101 1.503093
25 to 36 months 2 8,679,202.76 1.00 161 7.8596 1.924622
37 to 48 months 0 0.00 0.00 0 0.0000 0.000000
49 months and greater 0 0.00 0.00 0 0.0000 0.000000
Totals 104 865,158,149.76 100.00 100 6.5236 1.507322
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 5 43,532,734.10 5.03 44 6.0489 1.307014
61 to 84 months 1 26,095,140.56 3.02 69 5.6800 1.534779
85 to 108 months 94 772,541,823.36 89.29 104 6.5762 1.508843
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 100 842,169,698.02 97.34 100 6.5212 1.499214
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 0 0.00 0.00 0 0.0000 0.000000
120 to 192 months 1 12,800,000.00 1.48 55 5.9700 1.830000
193 to 264 months 3 10,188,451.74 1.18 216 7.4156 1.772098
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 4 22,988,451.74 2.66 126 6.6107 1.804338
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 8 109,521,963.94 12.66 91 6.3088 1.723791
120 months or less 0 0.00 0.00 0 0.0000 0.000000
120 to 192 months 0 0.00 0.00 0 0.0000 0.000000
193 to 264 months 2 5,466,477.95 0.63 104 6.5541 1.294145
265 to 336 months 18 122,749,992.36 14.19 102 7.0375 1.547294
337 months or greater 72 604,431,263.77 69.86 101 6.4546 1.450612
Totals 100 842,169,698.02 97.34 100 6.5212 1.499214
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 9 79,470,233.58 9.19 93 6.2043 1.442214
1 year or less 93 777,093,101.58 89.82 101 6.5471 1.515852
1 to 2 years 2 8,594,814.60 0.99 103 7.3514 1.338057
2 years or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 104 865,158,149.76 100.00 100 6.5236 1.507322
<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>
502737614 1 RT Smithfield RI 256,718.75 0.00 6.625%
567000002 2 RT Valencia CA 229,621.70 24,923.88 7.200%
567000003 3 MF Randallstown MD 216,630.78 25,543.52 7.110%
567000004 4 RT Gaithersburg MD 200,487.23 26,289.50 6.740%
567000005 5 OF Tacoma WA 127,759.98 25,710.44 5.680%
502697602 6 RT Northridge CA 134,383.53 18,498.50 6.575%
567000007 7 MF Ashburn VA 119,866.67 0.00 5.800%
567000008 8 RT Laguna Niguel CA 124,603.91 18,810.96 6.370%
502747318 9 RT Encinitas CA 115,153.72 19,866.51 6.050%
567000010 10 RT Puyallup WA 87,091.51 14,715.62 6.100%
502745110 11 MF Las Vegas NV 75,612.23 14,176.78 5.850%
502751714 12 RT Paso Robles CA 80,111.50 12,983.78 6.200%
502743125 13 MF Temple Terrace FL 79,440.43 12,609.29 6.250%
567000014 14 MF Houston TX 73,914.77 13,020.06 6.000%
567000015 15 OF Culver City CA 70,770.96 19,270.16 6.000%
502730612 16 RT Calabasas CA 73,945.06 11,630.58 6.290%
502738711 17 OF Santa Monica CA 76,425.63 10,926.17 6.500%
567000018 18 OF Bakersfield CA 65,802.67 0.00 5.970%
502741911 19 MF Houston TX 71,702.27 9,743.22 6.640%
567000020 20 OF Sparks MD 71,866.16 8,938.04 6.640%
502746413 21 OF Pembroke Pines FL 62,674.03 11,272.09 5.950%
502741906 22 OF Rockville MD 68,893.67 8,938.10 6.750%
502742425 23 LO Long Beach CA 72,763.96 12,205.91 7.400%
502746414 24 OF Palm Beach Garden FL 57,619.67 10,363.06 5.950%
567000025 25 RT Rancho Santa Marga CA 64,738.55 8,277.07 6.800%
667000026 26 OF Studio City CA 60,561.94 0.00 6.500%
502740918 27 RT Bloomfield Hills MI 60,702.94 8,147.79 6.650%
502742435 28 OF Maitland FL 56,368.48 8,328.63 6.440%
567000029 29 RT Rancho Santa Marga CA 60,429.59 7,406.22 6.900%
502746821 30 RT Harrisonburg VA 51,753.72 8,781.18 6.090%
667000031 31 RT Newark CA 61,255.34 6,340.35 7.310%
502745001 32 RT Newnan GA 50,480.54 8,012.59 6.250%
667000033 33 OF North Hollywood CA 49,381.16 7,209.34 6.450%
502742918 34 MF Elgin IL 45,460.57 6,745.06 6.430%
567000035 35 MF Huntsville AL 45,380.17 6,351.19 6.600%
502741213 36 RT Lawndale CA 43,202.69 6,766.98 6.300%
502746707 37 OF Irving TX 39,246.82 7,358.51 5.850%
502750138 38 MF Scottsdale AZ 36,812.50 0.00 5.700%
502742432 39 LO Costa Mesa CA 47,045.66 7,891.76 7.400%
502737611 40 OF Charlottesville VA 39,810.59 6,043.85 6.375%
502745707 41 RT Lake Bluff IL 37,084.83 6,532.47 6.000%
502746706 42 OF Irving TX 35,212.04 6,740.80 5.800%
567000043 43 IN Tustin CA 35,853.91 9,762.63 6.000%
502742917 44 MF Westfield MA 38,029.52 5,642.50 6.430%
502741917 45 RT North Lauderdale FL 36,777.97 4,732.31 6.750%
502746419 46 MF Washington DC 31,859.82 5,612.09 6.000%
502731815 47 RT Woodland Hills CA 36,656.92 4,305.75 7.000%
567000048 48 RT Woodland Hills CA 37,506.47 3,982.23 7.220%
567000049 49 RT Nashua NH 38,220.06 3,890.34 7.370%
502745312 50 OF San Jose CA 35,975.68 6,925.82 7.000%
502742415 51 LO Boulder CO 37,636.53 6,313.40 7.400%
567000052 52 RT Bloomington MN 32,733.50 4,054.52 6.875%
502744711 53 OF Los Angeles CA 27,654.32 4,871.30 6.000%
502742424 54 LO Lombard Il 33,872.88 5,682.06 7.400%
502742915 55 MF Modesto CA 28,849.98 4,280.52 6.430%
567000056 56 MH Mesa AZ 28,705.12 4,162.42 6.500%
567000057 57 IN Maumee OH 34,301.67 9,490.51 7.940%
667000058 58 OF Oklahoma City OK 28,272.50 4,041.98 6.500%
502742412 59 LO Atlanta GA 31,991.05 5,366.39 7.400%
567000060 60 OF Lakewood CA 31,732.81 3,300.65 7.320%
567000061 61 MF San Bernardino CA 26,836.75 3,417.88 6.860%
502745217 62 MU Boca Raton FL 23,730.68 3,626.35 6.130%
502742428 63 LO Southfield MI 27,600.12 4,629.83 7.400%
502742513 64 MF Chicago IL 19,805.56 0.00 5.750%
567000065 65 OF Denver CO 20,805.24 3,486.25 6.120%
502735512 66 OF Cranberry Township PA 22,340.89 3,126.25 6.570%
502731814 67 RT Chesapeake VA 21,925.30 3,226.03 6.450%
502742916 68 MF Sacramento CA 21,856.05 3,242.81 6.430%
567000069 69 MF Grand Prairie TX 22,437.71 4,946.69 6.650%
265950523 70 RT Eugene OR 24,519.77 2,345.69 7.750%
502737007 71 RT Greenville NC 20,486.45 7,383.66 6.630%
502742908 72 RT Kennett Square PA 20,004.94 2,982.40 6.400%
567000073 73 MF Dallas TX 20,026.80 2,923.79 6.450%
567000074 74 MF Tacoma WA 18,606.13 3,277.47 6.000%
502741915 75 RT Taylorsville UT 19,355.26 2,767.12 6.500%
502742919 76 MF Westfield MA 18,796.20 2,788.82 6.430%
667000077 77 OF Oklahoma City OK 18,802.25 2,688.06 6.500%
502737613 78 RT Oklahoma City OK 19,029.22 2,484.78 6.750%
567000079 79 MF Victorville CA 17,392.63 2,818.85 6.200%
567000080 80 RT Grottoes VA 18,422.61 2,525.40 6.600%
502735505 81 RT Beaumont TX 19,551.69 2,126.22 7.180%
502740927 82 RT Santa Fe NM 18,256.82 2,368.60 6.750%
502737423 83 RT Newport News VA 16,129.86 2,560.24 6.250%
502742413 84 LO Smyrna GA 18,818.26 3,156.71 7.400%
567000085 85 RT Los Lunas NM 16,611.60 6,749.33 6.640%
567000086 86 RT Rancho Santa Marga CA 17,277.66 2,016.11 7.000%
502742429 87 LO Chesterfield MO 17,563.71 2,946.26 7.400%
502722602 88 IN Pembroke Pines FL 16,119.05 3,050.20 7.050%
567000089 89 MF El Paso TX 13,914.10 2,255.08 6.200%
502742913 90 MF Amherst MA 14,343.03 2,128.10 6.430%
567000091 91 MF Pompano Beach FL 16,936.52 1,528.76 7.660%
667000092 92 RT Santa Maria CA 14,654.09 1,604.35 7.180%
502736106 93 RT Holly Hill FL 14,140.03 1,660.90 7.000%
567000094 94 RT Lynnwood WA 14,277.77 4,447.30 7.250%
667000095 95 OF Oklahoma City OK 12,650.04 1,808.52 6.500%
567000096 96 RT Dalton GA 12,917.56 1,675.90 6.750%
502745918 97 RT Sylva NC 11,963.70 1,797.43 6.400%
567000098 98 MU Ridgeland MS 13,386.75 2,444.21 7.200%
502742417 99 LO Sharonville OH 12,545.51 2,104.47 7.400%
502741016 100 RT Odessa TX 10,429.65 4,005.89 6.410%
667000101 101 MF Lewisburg TN 10,334.05 1,340.72 6.750%
567000102 102 MF Greenville SC 7,998.00 1,301.67 6.190%
502742419 103 LO Dayton OH 9,095.49 1,525.74 7.400%
502741109 104 MF Chicago IL 5,694.10 0.00 5.750%
Totals 4,863,809.23 665,078.22
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>
502737614 N/A 09/01/2012 N 45,000,000.00 45,000,000.00 01/01/2004
567000002 N/A 07/11/2012 N 37,035,758.48 37,010,834.60 12/11/2003
567000003 N/A 02/11/2012 N 35,382,732.18 35,357,188.66 01/11/2004
567000004 N/A 08/08/2012 N 34,543,601.56 34,517,312.06 01/08/2004
567000005 10/11/2009 09/11/2016 N 26,120,851.00 26,095,140.56 01/11/2004
502697602 N/A 11/01/2012 N 23,735,100.72 23,716,602.22 01/01/2004
567000007 N/A 10/11/2007 N 24,000,000.00 24,000,000.00 12/11/2003
567000008 N/A 10/11/2012 N 22,716,062.27 22,697,251.31 12/11/2003
502747318 10/11/2012 10/11/2032 N 22,103,619.66 22,083,753.15 12/11/2003
567000010 10/11/2012 10/11/2032 N 16,580,086.03 16,565,370.41 01/11/2004
502745110 N/A 10/11/2012 N 15,009,872.22 14,995,695.44 01/11/2004
502751714 N/A 10/11/2012 N 15,005,275.73 14,992,291.95 01/11/2004
502743125 N/A 10/11/2012 N 14,760,543.79 14,747,934.50 01/11/2004
567000014 N/A 10/11/2012 N 14,306,085.19 14,293,065.13 01/11/2004
567000015 N/A 10/11/2012 N 13,697,604.64 13,678,334.48 01/11/2004
502730612 N/A 09/11/2012 N 13,652,095.06 13,640,464.48 12/11/2003
502738711 N/A 10/11/2012 N 13,654,206.37 13,643,280.20 12/11/2003
567000018 08/01/2008 05/01/2014 N 12,800,000.00 12,800,000.00 01/01/2004
502741911 N/A 09/01/2012 N 12,540,233.18 12,530,489.96 01/01/2004
567000020 N/A 09/01/2012 N 12,568,897.86 12,559,959.82 01/01/2004
502746413 N/A 10/11/2012 N 12,232,394.10 12,221,122.01 01/11/2004
502741906 N/A 09/01/2012 N 11,852,674.19 11,843,736.09 01/01/2004
502742425 N/A 10/11/2012 N 11,418,929.47 11,406,723.56 12/11/2003
502746414 N/A 10/11/2012 N 11,245,910.61 11,235,547.55 01/11/2004
567000025 N/A 08/11/2012 N 11,055,919.89 11,047,642.82 01/11/2004
667000026 N/A 09/01/2012 N 10,820,000.00 10,820,000.00 12/01/2003
502740918 N/A 10/01/2012 N 10,600,561.36 10,592,413.57 01/01/2004
502742435 N/A 09/01/2012 N 10,164,622.06 10,156,293.43 01/01/2004
567000029 N/A 08/11/2012 N 10,170,478.22 10,163,072.00 01/11/2004
502746821 10/11/2012 10/11/2032 N 9,868,817.41 9,860,036.23 01/11/2004
667000031 N/A 07/01/2012 N 9,731,221.65 9,724,881.30 01/01/2004
502745001 N/A 10/01/2012 N 9,379,609.83 9,371,597.24 01/01/2004
667000033 N/A 10/01/2012 N 8,890,830.98 8,883,621.64 12/01/2003
502742918 N/A 09/01/2012 N 8,210,408.19 8,203,663.13 01/01/2004
567000035 N/A 07/11/2007 N 7,984,780.99 7,978,429.80 12/11/2003
502741213 N/A 09/01/2012 N 7,963,629.02 7,956,862.04 01/01/2004
502746707 N/A 10/11/2012 N 7,790,932.41 7,783,573.90 12/11/2003
502750138 N/A 10/11/2012 N 7,500,000.00 7,500,000.00 01/11/2004
502742432 N/A 10/11/2012 N 7,382,928.46 7,375,036.70 12/11/2003
502737611 N/A 09/01/2012 N 7,252,023.27 7,245,979.42 01/01/2004
502745707 N/A 10/11/2012 N 7,177,708.29 7,171,175.82 12/11/2003
502746706 N/A 10/11/2012 N 7,050,241.21 7,043,500.41 12/11/2003
567000043 N/A 10/11/2012 N 6,939,466.23 6,929,703.60 01/11/2004
502742917 N/A 09/01/2012 N 6,868,322.17 6,862,679.67 01/01/2004
502741917 N/A 10/01/2012 N 6,327,393.29 6,322,660.98 01/01/2004
502746419 N/A 10/11/2012 N 6,166,416.02 6,160,803.93 01/11/2004
502731815 N/A 08/01/2012 N 6,081,331.85 6,077,026.10 01/01/2004
567000048 N/A 09/11/2012 N 6,032,673.78 6,028,691.55 01/11/2004
567000049 06/11/2012 06/11/2032 N 6,022,332.47 6,018,442.13 12/11/2003
502745312 N/A 10/01/2012 N 5,968,315.38 5,961,389.56 01/01/2004
502742415 N/A 10/11/2012 N 5,906,342.85 5,900,029.45 12/11/2003
567000052 N/A 08/01/2012 N 5,529,177.38 5,525,122.86 01/01/2004
502744711 N/A 10/11/2007 N 5,352,449.09 5,347,577.79 12/11/2003
502742424 N/A 10/11/2012 N 5,315,708.53 5,310,026.47 12/11/2003
502742915 N/A 09/01/2012 N 5,210,451.28 5,206,170.76 01/01/2004
567000056 N/A 08/11/2012 N 5,128,457.85 5,124,295.43 01/11/2004
567000057 N/A 10/11/2021 N 5,016,900.81 5,007,410.30 01/11/2004
667000058 N/A 10/11/2012 N 5,051,167.12 5,047,125.14 12/11/2003
502742412 N/A 10/11/2012 N 5,020,391.44 5,015,025.05 12/11/2003
567000060 06/11/2012 06/11/2032 N 5,034,290.28 5,030,989.63 01/11/2004
567000061 N/A 05/11/2012 N 4,543,041.28 4,539,623.40 12/11/2003
502745217 N/A 11/11/2012 N 4,495,630.47 4,492,004.12 01/11/2004
502742428 N/A 10/11/2012 N 4,331,318.08 4,326,688.25 12/11/2003
502742513 N/A 11/11/2012 N 4,000,000.00 4,000,000.00 12/11/2003
567000065 N/A 10/11/2012 N 3,947,864.25 3,944,378.00 01/11/2004
502735512 N/A 09/01/2012 N 3,948,898.47 3,945,772.22 01/01/2004
502731814 N/A 09/01/2012 N 3,947,540.39 3,944,314.36 01/01/2004
502742916 N/A 09/01/2012 N 3,947,311.63 3,944,068.82 01/01/2004
567000069 N/A 08/11/2012 N 3,918,300.33 3,913,353.64 01/11/2004
265950523 N/A 06/01/2011 N 3,674,138.15 3,671,792.46 01/01/2004
502737007 N/A 09/01/2012 N 3,588,342.55 3,580,958.89 01/01/2004
502742908 10/01/2012 10/01/2032 N 3,629,929.41 3,626,947.01 01/01/2004
567000073 N/A 10/11/2007 N 3,605,725.93 3,602,802.14 01/11/2004
567000074 N/A 10/11/2012 N 3,601,186.89 3,597,909.42 12/11/2003
502741915 10/11/2012 10/11/2032 N 3,458,011.77 3,455,244.65 01/11/2004
502742919 N/A 09/01/2012 N 3,394,688.00 3,391,899.18 01/01/2004
667000077 N/A 10/11/2012 N 3,359,211.44 3,356,523.38 12/11/2003
502737613 08/01/2012 08/01/2032 N 3,273,843.91 3,271,359.13 01/01/2004
567000079 N/A 10/11/2012 N 3,257,724.26 3,254,905.41 01/11/2004
567000080 N/A 10/11/2012 N 3,241,515.60 3,238,990.20 01/11/2004
502735505 08/01/2012 08/01/2032 N 3,162,281.71 3,160,155.49 01/01/2004
502740927 09/01/2012 09/01/2032 N 3,140,958.66 3,138,590.06 01/01/2004
502737423 10/11/2012 10/11/2032 N 2,997,032.08 2,994,471.84 12/11/2003
502742413 N/A 10/11/2012 N 2,953,171.38 2,950,014.67 12/11/2003
567000085 N/A 10/11/2021 N 2,905,254.39 2,898,505.06 01/11/2004
567000086 N/A 09/11/2012 N 2,866,340.45 2,864,324.34 01/11/2004
502742429 N/A 10/11/2012 N 2,756,293.29 2,753,347.03 12/11/2003
502722602 N/A 10/01/2012 N 2,655,163.08 2,652,112.88 01/01/2004
567000089 N/A 10/11/2007 N 2,606,179.45 2,603,924.37 01/11/2004
502742913 N/A 09/01/2012 N 2,590,423.22 2,588,295.12 01/01/2004
567000091 N/A 05/11/2012 N 2,567,651.81 2,566,123.05 12/11/2003
667000092 07/01/2012 07/01/2032 N 2,370,147.06 2,368,542.71 01/01/2004
502736106 08/01/2012 08/01/2032 N 2,345,811.83 2,344,150.93 01/01/2004
567000094 N/A 10/11/2022 N 2,286,983.68 2,282,536.38 01/11/2004
667000095 N/A 10/11/2012 N 2,260,057.63 2,258,249.11 12/11/2003
567000096 N/A 09/01/2012 N 2,222,376.36 2,220,700.46 01/01/2004
502745918 N/A 09/11/2012 N 2,170,832.05 2,169,034.62 01/11/2004
567000098 N/A 08/01/2012 N 2,159,153.20 2,156,708.99 01/01/2004
502742417 N/A 10/11/2012 N 1,968,780.89 1,966,676.42 12/11/2003
502741016 09/01/2012 09/01/2032 N 1,889,524.95 1,885,519.06 01/01/2004
667000101 N/A 09/01/2012 N 1,777,901.06 1,776,560.34 12/01/2003
567000102 N/A 10/11/2012 N 1,500,485.34 1,499,183.67 01/11/2004
502742419 N/A 10/11/2012 N 1,427,366.23 1,425,840.49 12/11/2003
502741109 N/A 11/11/2012 N 1,150,000.00 1,150,000.00 12/11/2003
Totals 865,823,227.98 865,158,149.76
Appraisal Appraisal Res Mod
Loan Number Reduction Reduction Strat. Code
Date Amount (2) (3)
Totals 0.00
<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
01/15/2004 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
12/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
11/17/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
10/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
09/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
08/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
07/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
06/16/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
05/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
04/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
03/17/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
02/18/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00
Prepayments
Distribution Curtailments Payoff
Date # Amount # Amount
01/15/2004 0 $0.00 0 $0.00
12/15/2003 0 $0.00 0 $0.00
11/17/2003 0 $0.00 0 $0.00
10/15/2003 0 $0.00 0 $0.00
09/15/2003 0 $0.00 0 $0.00
08/15/2003 0 $0.00 0 $0.00
07/15/2003 0 $0.00 0 $0.00
06/16/2003 0 $0.00 0 $0.00
05/15/2003 0 $0.00 0 $0.00
04/15/2003 0 $0.00 0 $0.00
03/17/2003 0 $0.00 0 $0.00
02/18/2003 0 $0.00 0 $0.00
Rate and Maturities
Distribution Next Weighted Avg. WAM
Date Coupon Remit
01/15/2004 6.523594% 6.478505% 100
12/15/2003 6.523612% 6.478523% 101
11/17/2003 6.523642% 6.478554% 102
10/15/2003 6.523661% 6.478573% 103
09/15/2003 6.523692% 6.478605% 104
08/15/2003 6.523710% 6.478623% 105
07/15/2003 6.523726% 6.478640% 106
06/16/2003 6.523755% 6.478670% 107
05/15/2003 6.523772% 6.478686% 108
04/15/2003 6.523800% 6.478715% 109
03/17/2003 6.523815% 6.478731% 110
02/18/2003 6.523868% 6.478784% 111
<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>
567000002 2 0 12/11/2003 253,311.06 253,311.06 A
567000007 7 0 12/11/2003 119,066.67 119,066.67 A
567000008 8 0 12/11/2003 142,657.67 142,657.67 A
502747318 9 0 12/11/2003 134,283.45 134,283.45 A
502730612 16 0 12/11/2003 85,120.58 85,120.58 A
502738711 17 0 12/11/2003 86,896.66 86,896.66 A
502742425 23 0 12/11/2003 84,589.23 84,589.23 A
667000026 26 0 12/01/2003 59,750.44 59,750.44 B
667000033 33 0 12/01/2003 55,923.69 55,923.69 B
567000035 35 0 12/11/2003 51,465.20 51,465.20 A
502746707 37 0 12/11/2003 46,345.63 46,345.63 A
502742432 39 0 12/11/2003 54,691.32 54,691.32 A
502745707 41 0 12/11/2003 43,378.04 43,378.04 A
502746706 42 0 12/11/2003 41,717.84 41,717.84 A
567000049 49 0 12/11/2003 41,909.66 41,909.66 A
502742415 51 0 12/11/2003 43,753.05 43,753.05 A
502744711 53 0 12/11/2003 32,347.20 32,347.20 A
502742424 54 0 12/11/2003 39,377.74 39,377.74 A
667000058 58 0 12/11/2003 31,935.64 31,935.64 A
502742412 59 0 12/11/2003 37,190.10 37,190.10 A
567000061 61 0 12/11/2003 30,103.19 30,103.19 A
502742428 63 0 12/11/2003 32,085.57 32,085.57 A
502742513 64 0 12/11/2003 19,672.22 19,672.22 A
567000074 74 0 12/11/2003 21,763.56 21,763.56 A
667000077 77 0 12/11/2003 21,182.39 21,182.39 A
502737423 83 0 12/11/2003 18,590.20 18,590.20 A
502742413 84 0 12/11/2003 21,876.53 21,876.53 A
502742429 87 0 12/11/2003 20,418.09 20,418.09 A
567000091 91 0 12/11/2003 18,379.69 18,379.69 A
667000095 95 0 12/11/2003 14,251.39 14,251.39 A
502742417 99 0 12/11/2003 14,584.36 14,584.36 A
667000101 101 0 12/01/2003 11,556.23 11,556.23 B
502742419 103 0 12/11/2003 10,573.65 10,573.65 A
502741109 104 0 12/11/2003 5,655.76 5,655.76 A
Totals 34 1,746,403.70 1,746,403.70
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>
567000002 37,035,758.48 0.00
567000007 24,000,000.00 0.00
567000008 22,716,062.27 0.00
502747318 22,103,619.66 0.00
502730612 13,652,095.06 0.00
502738711 13,654,206.37 0.00
502742425 11,418,929.47 0.00
667000026 10,820,000.00 0.00
667000033 8,890,830.98 0.00
567000035 7,984,780.99 0.00
502746707 7,790,932.41 0.00
502742432 7,382,928.46 0.00
502745707 7,177,708.29 0.00
502746706 7,050,241.21 0.00
567000049 6,022,332.47 0.00
502742415 5,906,342.85 0.00
502744711 5,352,449.09 0.00
502742424 5,315,708.53 0.00
667000058 5,051,167.12 0.00
502742412 5,020,391.44 0.00
567000061 4,543,041.28 0.00
502742428 4,331,318.08 0.00
502742513 4,000,000.00 0.00
567000074 3,601,186.89 0.00
667000077 3,359,211.44 0.00
502737423 2,997,032.08 0.00
502742413 2,953,171.38 0.00
502742429 2,756,293.29 0.00
567000091 2,567,651.81 0.00
667000095 2,260,057.63 0.00
502742417 1,968,780.89 0.00
667000101 1,777,901.06 0.00
502742419 1,427,366.23 0.00
502741109 1,150,000.00 0.00
Totals 274,039,497.21 0.00
Current Outstanding Actual Outstanding
P & I P & I Principal Servicing
Advances Advances Balance Advances
Totals by Delinquency Code:
Total for Status Code = A (31 loans) 1,619,173.34 1,619,173.34 252,550,765.17 0.00
Total for Status Code = B (3 loans) 127,230.36 127,230.36 21,488,732.04 0.00
<FN>
(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.
</FN>
Specially Serviced Loan Detail - Part 1
No Specially Serviced Loans this Period
Specially Serviced Loan Detail - Part 2
No Specially Serviced Loans this Period
Modified Loan Detail
No Modified Loans
Liquidated Loan Detail
No Liquidated Loans