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.: 333-83930-01
Wachovia Commercial Mortgage Securities, Inc.
Commercial Mortgage Pass-Through Certificates
Series 2002-C1
(Exact name of registrant as specified in its charter)
New York (governing law of Pooling and Servicing Agreement)
(State of Incorporation)
52-2365707
52-2365708
52-7294443
52-2365709
(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-C1.
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-C1, 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-C1
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-C1, 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-C1
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 - 15
Principal Prepayment Detail 16
Historical Detail 17
Delinquency Loan Detail 18
Specially Serviced Loan Detail 19 - 20
Modified Loan Detail 21
Liquidated Loan Detail 22
Depositor
Wachovia Commercial Mortgage
Securities, Inc.
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
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 929766AA1 4.539000% 59,085,000.00 43,711,303.25 780,970.88
A-2 929766AB9 5.681000% 135,498,000.00 135,498,000.00 0.00
A-3 929766AC7 6.164000% 135,167,000.00 135,167,000.00 0.00
A-4 929766AD5 6.287000% 404,157,000.00 404,157,000.00 0.00
B 929766AE3 6.413000% 35,627,000.00 35,627,000.00 0.00
C 929766AF0 6.551000% 42,752,000.00 42,752,000.00 0.00
D 929766AG8 6.630000% 9,500,000.00 9,500,000.00 0.00
E 929766AK9 7.029000% 13,063,000.00 13,063,000.00 0.00
F 929766AL7 7.128000% 16,626,000.00 16,626,000.00 0.00
G 929766AM5 7.445897% 13,063,000.00 13,063,000.00 0.00
H 929766AN3 6.290000% 15,438,000.00 15,438,000.00 0.00
J 929766AP8 6.290000% 17,814,000.00 17,814,000.00 0.00
K 929766AQ6 6.290000% 4,750,000.00 4,750,000.00 0.00
L 929766AR4 6.290000% 9,980,000.00 9,980,000.00 0.00
M 929766AS2 6.290000% 7,036,000.00 7,036,000.00 0.00
N 929766AT0 6.290000% 4,690,000.00 4,690,000.00 0.00
O 929766AU7 6.290000% 25,796,449.00 25,796,449.00 0.00
Z-I N\A 0.000000% 0.00 0.00 0.00
Z-II N\A 0.000000% 0.00 0.00 0.00
Z-III 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 950,042,449.00 934,668,752.25 780,970.88
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 929766AA1 165,338.00 0.00 0.00 946,308.88 42,930,332.37 23.14%
A-2 929766AB9 641,470.11 0.00 0.00 641,470.11 135,498,000.00 23.14%
A-3 929766AC7 694,307.82 0.00 0.00 694,307.82 135,167,000.00 23.14%
A-4 929766AD5 2,117,445.88 0.00 0.00 2,117,445.88 404,157,000.00 23.14%
B 929766AE3 190,396.63 0.00 0.00 190,396.63 35,627,000.00 19.33%
C 929766AF0 233,390.29 0.00 0.00 233,390.29 42,752,000.00 14.75%
D 929766AG8 52,487.50 0.00 0.00 52,487.50 9,500,000.00 13.73%
E 929766AK9 76,516.52 0.00 0.00 76,516.52 13,063,000.00 12.33%
F 929766AL7 98,758.44 0.00 0.00 98,758.44 16,626,000.00 10.55%
G 929766AM5 81,054.80 0.00 0.00 81,054.80 13,063,000.00 9.16%
H 929766AN3 80,920.85 0.00 0.00 80,920.85 15,438,000.00 7.50%
J 929766AP8 93,375.05 0.00 0.00 93,375.05 17,814,000.00 5.60%
K 929766AQ6 24,897.92 0.00 0.00 24,897.92 4,750,000.00 5.09%
L 929766AR4 52,311.83 0.00 0.00 52,311.83 9,980,000.00 4.02%
M 929766AS2 36,880.37 0.00 0.00 36,880.37 7,036,000.00 3.26%
N 929766AT0 24,583.42 0.00 0.00 24,583.42 4,690,000.00 2.76%
O 929766AU7 135,201.30 0.00 0.00 135,201.30 25,796,449.00 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%
Z-III 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 4,799,336.73 0.00 0.00 5,580,307.61 933,887,781.37
Original Beginning
Pass-Through Notional Notional
Class CUSIP Rate Amount Amount
<s> <c> <c> <c> <c>
IO-I 929766AH6 0.372470% 950,042,449.00 934,668,752.25
IO-II 929766AJ2 1.191875% 754,125,000.00 754,125,000.00
Ending
Interest Prepayment Total Notional
Class CUSIP Distribution Penalties Distribution Amount
<s> <c> <c> <c> <c> <c>
IO-I 929766AH6 290,113.49 0.00 290,113.49 933,887,781.37
IO-II 929766AJ2 749,018.84 0.00 749,018.84 754,125,000.00
<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 929766AA1 739.80372768 13.21775205 2.79830752 0.00000000 0.00000000 726.58597563
A-2 929766AB9 1,000.00000000 0.00000000 4.73416663 0.00000000 0.00000000 1,000.00000000
A-3 929766AC7 1,000.00000000 0.00000000 5.13666664 0.00000000 0.00000000 1,000.00000000
A-4 929766AD5 1,000.00000000 0.00000000 5.23916666 0.00000000 0.00000000 1,000.00000000
B 929766AE3 1,000.00000000 0.00000000 5.34416678 0.00000000 0.00000000 1,000.00000000
C 929766AF0 1,000.00000000 0.00000000 5.45916659 0.00000000 0.00000000 1,000.00000000
D 929766AG8 1,000.00000000 0.00000000 5.52500000 0.00000000 0.00000000 1,000.00000000
E 929766AK9 1,000.00000000 0.00000000 5.85749981 0.00000000 0.00000000 1,000.00000000
F 929766AL7 1,000.00000000 0.00000000 5.94000000 0.00000000 0.00000000 1,000.00000000
G 929766AM5 1,000.00000000 0.00000000 6.20491464 0.00000000 0.00000000 1,000.00000000
H 929766AN3 1,000.00000000 0.00000000 5.24166667 0.00000000 0.00000000 1,000.00000000
J 929766AP8 1,000.00000000 0.00000000 5.24166667 0.00000000 0.00000000 1,000.00000000
K 929766AQ6 1,000.00000000 0.00000000 5.24166737 0.00000000 0.00000000 1,000.00000000
L 929766AR4 1,000.00000000 0.00000000 5.24166633 0.00000000 0.00000000 1,000.00000000
M 929766AS2 1,000.00000000 0.00000000 5.24166714 0.00000000 0.00000000 1,000.00000000
N 929766AT0 1,000.00000000 0.00000000 5.24166738 0.00000000 0.00000000 1,000.00000000
O 929766AU7 1,000.00000000 0.00000000 5.24108182 0.00000000 0.00000000 1,000.00000000
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
Z-III 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 929766AH6 983.81788438 0.30536898 0.00000000 982.99584650
IO-II 929766AJ2 1,000.00000000 0.99322903 0.00000000 1,000.00000000
Reconciliation Detail
Advance Summary
<s> <c>
P & I Advances Outstanding 153,934.13
Servicing Advances Outstanding 0.00
Reimbursement for Interest on P&I Advances 15.09
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 44,227.76
Less Delinquent Servicing Fees 1,137.59
Less Reductions to Servicing Fees 0.00
Plus Servicing Fees for Delinquent Payments Received 2,943.36
Plus Adjustments for Prior Servicing Calculation 0.00
Total Servicing Fees Collected 46,033.53
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-1 165,338.00 0.00 0.00 165,338.00 0.00 0.00 165,338.00 0.00
A-2 641,470.11 0.00 0.00 641,470.11 0.00 0.00 641,470.11 0.00
A-3 694,307.82 0.00 0.00 694,307.82 0.00 0.00 694,307.82 0.00
A-4 2,117,445.88 0.00 0.00 2,117,445.88 0.00 0.00 2,117,445.88 0.00
IO-I 290,113.49 0.00 0.00 290,113.49 0.00 0.00 290,113.49 0.00
IO-II 749,018.84 0.00 0.00 749,018.84 0.00 0.00 749,018.84 0.00
B 190,396.63 0.00 0.00 190,396.63 0.00 0.00 190,396.63 0.00
C 233,390.29 0.00 0.00 233,390.29 0.00 0.00 233,390.29 0.00
D 52,487.50 0.00 0.00 52,487.50 0.00 0.00 52,487.50 0.00
E 76,516.52 0.00 0.00 76,516.52 0.00 0.00 76,516.52 0.00
F 98,758.44 0.00 0.00 98,758.44 0.00 0.00 98,758.44 0.00
G 81,054.80 0.00 0.00 81,054.80 0.00 0.00 81,054.80 0.00
H 80,920.85 0.00 0.00 80,920.85 0.00 0.00 80,920.85 0.00
J 93,375.05 0.00 0.00 93,375.05 0.00 0.00 93,375.05 0.00
K 24,897.92 0.00 0.00 24,897.92 0.00 0.00 24,897.92 0.00
L 52,311.83 0.00 0.00 52,311.83 0.00 0.00 52,311.83 0.00
M 36,880.37 0.00 0.00 36,880.37 0.00 0.00 36,880.37 0.00
N 24,583.42 0.00 0.00 24,583.42 0.00 0.00 24,583.42 0.00
O 135,216.39 0.00 0.00 135,216.39 0.00 15.09 135,201.30 173.09
Total 5,838,484.15 0.00 0.00 5,838,484.15 0.00 15.09 5,838,469.06 173.09
Other Required Information
<s> <c>
Available Distribution Amount (1) 6,619,439.94
Aggregate Number of Outstanding Loans 156
Aggregate Stated Principal Balance of Loans Before Distribution 934,668,752.12
Aggregate Stated Principal Balance of Loans After Distribution 933,887,781.24
Aggregate Unpaid Principal Balance of Loans 933,911,867.15
Aggregate Amount of Servicing Fee 46,033.53
Aggregate Amount of Special Servicing Fee 0.00
Aggregate Amount of Trustee Fee 2,087.43
Aggregate Trust Fund Expenses 15.09
Interest Reserve Deposit 0.00
Interest Reserve Withdrawal 0.00
Specially Serviced Loans not Delinquent
Number of Outstanding Loans 0
Aggregate Unpaid Principal Balance 0.00
(1) The Available Distribution Amount includes any Prepayment Premiums .
Original Subordination Level
Class A-1 22.750000% Class H 10.500000%
Class A-2 22.750000% Class J 9.000000%
Class B 19.000000% Class K 7.500000%
Class C 17.750000% Class L 5.250000%
Class D 16.500000% Class M 4.500000%
Class E 14.750000% Class N 3.780000%
Class F 13.500000% Class O 3.070000%
Class G 12.250000% Class P 2.600000%
Class Q 0.000000%
Appraisal Reduction Amount
Appraisal Cumulative Date Appraisal
Loan Reduction ASER Reduction
Number Amount Amount Effected
NONE
<s> <c> <c>
Total Funds Collected
Interest:
Scheduled Interest 5,884,799.35
Interest reductions due to Nonrecoverability Determinations 0.00
Interest Adjustments 0.00
Deferred Interest 0.00
Net Prepayment Interest Shortfall 0.00
Net Prepayment Interest Excess 0.00
Extension Interest 0.00
Interest Reserve Withdrawal 0.00
Total Interest Collected 5,884,799.35
Principal:
Scheduled Principal 780,970.88
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 780,970.88
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 6,665,770.23
Total Funds Distributed
Fees:
Master Servicing Fee 44,227.76
Trustee Fee 2,087.43
Certificate Administration Fee 0.00
Insurer Fee 0.00
Miscellaneous Fee 0.00
Total Fees 46,315.18
Additional Trust Fund Expenses:
Reimbursement for Interest on Advances 15.09
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 15.09
Interest Reserve Deposit 0.00
Payments to Certificateholders & Others:
Interest Distribution 5,838,469.06
Principal Distribution 780,970.88
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 6,619,439.94
Total Funds Distributed 6,665,770.21
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 929766AA1 X Aaa AAA X Aaa AAA
A-2 929766AB9 X Aaa AAA X Aaa AAA
A-3 929766AC7 X Aaa AAA X Aaa AAA
A-4 929766AD5 X Aaa AAA X Aaa AAA
IO-I 929766AH6 X Aaa AAA X Aaa AAA
IO-II 929766AJ2 X Aaa AAA X Aaa AAA
B 929766AE3 X Aa2 AA X Aa2 AA
C 929766AF0 X A2 A X A2 A
D 929766AG8 X A3 A- X A3 A-
E 929766AK9 X Baa1 BBB+ X Baa1 BBB+
F 929766AL7 X Baa2 BBB X Baa2 BBB
G 929766AM5 X Baa3 BBB- X Baa3 BBB-
H 929766AN3 X Ba1 BB+ X Ba1 BB+
J 929766AP8 X Ba2 BB X Ba2 BB
K 929766AQ6 X Ba3 BB- X Ba3 BB-
L 929766AR4 X N/R B+ X NR B+
M 929766AS2 X B2 B X B2 B
N 929766AT0 X B3 B- X B3 B-
O 929766AU7 X N/A NR X NR NR
<FN>
NR - Designates that the class was not rated by the above agency at the
time of original issuance.
X - Designates that the above rating agency did not rate any classes in this
transaction at the time of original issuance.
N/A - Data not available this period.
1) For any class not rated at the time of original issuance by any particular
rating agency, no request has been made subsequent to issuance to obtain rating
information, if any, from such rating agency. The current ratings were obtained
directly from the applicable rating agency within 30 days of the payment date
listed above. The ratings may have changed since they were obtained. Because the
ratings may have changed, you may want to obtain current ratings directly from
the rating agencies.
Fitch, Inc.
One State Street Plaza
New York, New York 10004
(212) 908-0500
Moody's Investors Service
99 Church Street
New York, New York 10007
(212) 553-0300
Standard & Poor's Rating Services
55 Water Street
New York, New York 10041
(212) 438-2430
</FN>
Current Mortgage Loan and Property Stratification Tables
Scheduled Balance
% Of
Scheduled # of Scheduled Agg. WAM Weighted
Balance Loans Balance Bal. (2) WAC Avg DSCR(1)
<s> <c> <c> <c> <c> <c> <c>
Below 1,000,000 11 7,248,722.32 0.78 87 8.0604 1.720401
1,000,001 to 2,000,000 17 25,542,057.28 2.74 97 7.4957 1.620256
2,000,001 to 3,000,000 21 50,422,401.03 5.40 99 7.4256 1.389523
3,000,001 to 4,000,000 14 48,881,973.76 5.23 93 7.3255 1.380642
4,000,001 to 5,000,000 20 90,064,621.80 9.64 82 7.1766 1.427494
5,000,001 to 6,000,000 14 76,495,961.64 8.19 97 7.2066 1.453515
6,000,001 to 7,000,000 14 90,257,741.18 9.66 94 7.2681 1.497856
7,000,001 to 8,000,000 10 76,540,601.05 8.20 106 7.3219 1.351271
8,000,001 to 9,000,000 8 68,962,967.07 7.38 105 7.2084 1.550907
9,000,001 to 10,000,000 6 56,949,494.40 6.10 90 7.2576 1.452028
10,000,001 to 15,000,000 10 119,833,044.21 12.83 87 7.3313 1.324653
15,000,001 to 20,000,000 7 120,494,444.17 12.90 110 7.3567 1.470956
20,000,001 to 25,000,000 1 22,183,800.67 2.38 35 8.2400 1.630000
25,000,001 or greater 3 80,009,950.66 8.57 79 7.1808 1.200289
Totals 156 933,887,781.24 100.00 93 7.3126 1.421587
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 15,095,683.77 1.62 98 7.0900 1.500000
Arizona 10 62,675,180.63 6.71 93 7.2576 1.310077
California 45 283,059,811.46 30.31 84 7.2477 1.437745
Colorado 4 31,549,059.92 3.38 96 7.2982 1.440906
Connecticut 2 27,761,844.37 2.97 48 8.0270 1.583787
Florida 17 131,897,276.23 14.12 94 7.2549 1.389862
Georgia 2 6,539,424.14 0.70 99 7.2695 1.218140
Illinois 1 2,879,962.96 0.31 99 7.7000 1.290000
Iowa 2 8,535,136.89 0.91 96 7.5686 1.173077
Kansas 1 1,001,557.87 0.11 83 8.4500 1.390000
Louisiana 1 9,617,818.71 1.03 99 7.5000 0.830000
Maine 1 17,204,674.64 1.84 97 7.3600 1.480000
Maryland 2 10,176,320.90 1.09 98 7.3895 1.608426
Massachusetts 4 25,320,362.66 2.71 94 7.4815 1.301018
Michigan 2 15,719,734.72 1.68 163 7.5996 1.569100
Minnesota 3 12,187,149.20 1.30 78 7.3001 1.278864
Mississippi 1 2,412,731.76 0.26 97 7.1700 1.300000
Missouri 3 9,804,589.02 1.05 91 6.9484 1.611264
Nevada 8 29,220,073.25 3.13 93 7.4815 1.453932
New Jersey 1 974,289.26 0.10 91 8.9000 1.320000
New York 3 25,835,838.34 2.77 97 7.0179 1.679068
North Carolina 3 23,434,181.33 2.51 133 7.1238 1.473561
North Dakota 1 979,263.87 0.10 90 7.6000 0.550000
Oklahoma 1 11,921,489.65 1.28 99 7.4000 1.190000
Oregon 2 7,479,485.92 0.80 121 7.9400 1.450183
Pennsylvania 2 15,003,180.54 1.61 96 7.0813 1.737044
Rhode Island 1 3,229,265.73 0.35 96 7.6800 1.370000
South Carolina 1 2,418,756.30 0.26 96 7.0600 1.720000
Tennessee 2 17,524,331.22 1.88 197 7.9231 1.439008
Texas 21 55,008,773.14 5.89 76 7.1894 1.382557
Utah 3 15,713,435.17 1.68 94 7.1207 1.742794
Virginia 2 6,708,095.25 0.72 98 7.5826 1.318560
Washington 12 22,464,668.50 2.41 94 7.2825 1.361013
Washington,DC 3 22,534,333.91 2.41 97 7.3820 1.248467
Totals 168 933,887,781.24 100.00 93 7.3126 1.421587
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 20 138,823,911.59 14.87 80 7.2430 1.050267
1.20 to 1.24 12 80,517,160.17 8.62 91 7.5673 1.214965
1.25 to 1.29 17 92,439,319.00 9.90 92 7.3485 1.276449
1.30 to 1.34 13 64,722,173.28 6.93 96 7.2100 1.313704
1.35 to 1.39 12 57,526,249.29 6.16 96 7.3072 1.366521
1.40 to 1.44 12 84,524,802.85 9.05 88 7.2327 1.417563
1.45 to 1.49 10 90,145,311.27 9.65 135 7.5658 1.470167
1.50 to 1.54 13 82,187,542.42 8.80 89 7.1730 1.516868
1.55 to 1.59 9 43,304,898.54 4.64 91 7.2292 1.555506
1.60 to 1.64 4 47,786,034.33 5.12 68 7.5135 1.626664
1.65 to 1.69 4 28,133,091.11 3.01 98 7.4507 1.675388
1.70 or greater 30 123,777,287.39 13.25 95 7.1375 1.883241
Totals 156 933,887,781.24 100.00 93 7.3126 1.421587
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 24 76,237,738.24 8.16 135 7.6300 1.472695
Lodging 2 20,644,532.39 2.21 82 8.1249 1.043649
Mixed Use 8 28,795,058.00 3.08 90 7.5117 1.385634
Mobile Home Park 7 39,537,463.39 4.23 91 7.1764 1.350634
Multi-Family 45 266,934,076.96 28.58 87 7.0711 1.344838
Office 26 182,541,695.83 19.55 86 7.4074 1.482111
Retail 55 312,355,257.75 33.45 94 7.3304 1.470289
Self Storage 1 6,841,958.67 0.73 100 7.3600 1.710000
Totals 168 933,887,781.24 100.00 93 7.3126 1.421587
Note Rate
Note # of Scheduled % of Weighted
Rate Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
6.749% or less 9 48,207,430.02 5.16 97 6.6195 1.479829
6.750% to 6.999% 17 127,289,674.98 13.63 84 6.8961 1.459735
7.000% to 7.249% 28 203,115,407.72 21.75 91 7.1187 1.418239
7.250% to 7.499% 48 317,625,055.68 34.01 90 7.3385 1.428987
7.500% to 7.749% 31 134,053,172.97 14.35 94 7.5984 1.335119
7.500% to 7.999% 13 61,870,023.25 6.62 154 7.8749 1.407306
8.000% to 8.249% 3 24,910,191.14 2.67 41 8.2192 1.602992
8.250% or greater 7 16,816,825.48 1.80 89 8.6153 1.339665
Totals 156 933,887,781.24 100.00 93 7.3126 1.421587
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 104 680,228,632.99 72.84 89 7.2712 1.418441
25 to 36 months 38 231,848,975.45 24.83 106 7.3354 1.426648
37 to 48 months 1 1,001,557.87 0.11 83 8.4500 1.390000
49 months and greater 13 20,808,614.93 2.23 83 8.3566 1.469576
Totals 156 933,887,781.24 100.00 93 7.3126 1.421587
Anticipated Remaining Term (ARD and Balloon Loans)
Anticipated # of Scheduled % of Weighted
Remaining Term(2) Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
60 months or less 13 92,316,441.13 9.89 38 7.4144 1.268962
61 to 84 months 14 67,058,380.70 7.18 71 7.5334 1.518570
85 to 108 months 121 738,651,107.63 79.09 97 7.2491 1.428360
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 148 898,025,929.46 96.16 89 7.2873 1.418710
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 2 893,156.77 0.10 120 7.5582 1.467846
120 to 192 months 3 3,231,762.09 0.35 175 8.2478 1.389317
193 to 264 months 4 32,283,604.08 3.46 213 7.9185 1.501007
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 8 35,861,851.78 3.84 209 7.9456 1.493637
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>
120 months or less 0 0.00 0.00 0 0.0000 0.000000
120 to 192 months 5 7,286,733.14 0.78 75 7.3994 1.713964
193 to 264 months 8 26,868,878.12 2.88 81 8.0524 1.182005
265 to 336 months 88 473,952,089.51 50.75 88 7.3232 1.455067
337 months or greater 47 389,918,228.69 41.75 91 7.1889 1.385311
Totals 148 898,025,929.46 96.16 89 7.2873 1.418710
Age of Most Recent NOI
Age of Most # of Scheduled % of Weighted
Recent NOI Loans Balance Agg. WAM WAC Avg DSCR(1)
Bal. (2)
<s> <c> <c> <c> <c> <c> <c>
Underwriter's Information 4 16,133,731.58 1.73 96 7.4109 1.263996
1 year or less 138 856,207,261.03 91.68 93 7.3073 1.422412
1 to 2 years 14 61,546,788.63 6.59 91 7.3609 1.451433
2 years or greater 0 0.00 0.00 0 0.0000 0.000000
Totals 156 933,887,781.24 100.00 93 7.3126 1.421587
<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>
502727207 1 OF Jacksonville FL 175,821.50 18,985.51 7.270%
502723005 2 MF Rancho Cordova CA 159,580.65 18,422.02 6.910%
502715310 3 MF Ft. Lauderdale FL 159,671.60 16,363.68 7.370%
546000004 4 OF Hartford CT 157,508.25 14,355.95 8.240%
546000005 5 RT Altamonte Springs FL 125,687.50 14,381.23 7.365%
502722104 6 RT Colorado Springs CO 115,813.75 13,027.41 7.190%
502716604 7 MF New York NY 106,585.81 13,047.78 6.990%
502719801 8 RT South Portland ME 109,112.77 11,576.53 7.360%
546000009 9 MF Bradford MA 111,419.82 10,599.39 7.630%
546000010 10 IN Antioch TN 103,133.68 28,534.78 7.940%
546000011 11 RT Florence AL 92,229.43 10,823.99 7.090%
546000012 12 MU Glendale AZ 94,228.15 10,625.85 7.400%
546000013 13 MH Mesa AZ 78,117.68 9,334.15 7.110%
502719202 14 IN San Antonio TX 77,755.23 8,536.86 7.210%
546000015 15 OF San Diego CA 77,552.43 12,232.31 7.250%
502721404 16 RT Oklahoma City OK 76,015.84 7,762.12 7.400%
546000017 17 RT Pinole CA 71,936.06 8,707.78 7.100%
546000018 18 MF Houston TX 69,747.44 8,163.38 7.060%
546000019 19 LO Fresno CA 82,418.03 12,647.64 8.670%
502721401 20 MF Washington DC 65,058.38 7,475.23 7.140%
546000021 21 MF Scranton PA 64,269.65 6,630.95 7.012%
502723605 22 OF Long Beach CA 61,405.44 11,598.05 7.250%
502724302 23 MF Fremont CA 55,869.32 7,996.56 6.600%
502718702 24 LO Baton Rouge LA 62,233.43 18,325.89 7.500%
502718803 25 RT Hemet CA 61,336.06 5,741.04 7.600%
502715021 26 RT Upland CA 57,709.38 6,415.19 7.250%
546000027 27 IN Rochester Hills MI 61,285.64 16,956.37 7.940%
502722702 28 RT Elk Grove CA 57,709.69 5,901.49 7.375%
502716504 29 RT Perris CA 55,535.24 10,666.92 7.200%
546000030 30 MF Dallas TX 55,884.97 6,061.25 7.340%
546000031 31 MH Borrego Springs CA 55,108.73 5,796.02 7.310%
502730405 32 MF Salt Lake City UT 50,943.33 0.00 6.800%
546000033 33 MF Fayetteville NC 48,274.94 6,934.04 6.650%
546000034 34 RT Thousand Oaks CA 48,101.02 6,548.84 6.780%
546000035 35 RT San Diego CA 53,305.75 5,002.13 7.610%
546000036 36 OF San Diego CA 51,071.60 5,121.72 7.420%
546000037 37 OF Culver City CA 53,463.50 4,458.79 7.860%
502727906 38 RT Fuquay-Varina NC 46,710.21 5,924.30 6.890%
546000039 39 OF West Palm Beach FL 48,942.01 5,523.61 7.230%
502712503 40 RT Wantagh NY 46,183.58 9,551.22 6.980%
546000041 41 OF Washington DC 50,816.60 4,876.26 7.610%
502723516 42 MF Vallejo CA 42,010.18 6,267.18 6.500%
502715016 43 OF Bakersfield CA 46,658.64 5,186.76 7.250%
546000044 44 RT Encino CA 48,202.37 4,547.20 7.560%
546000045 45 IN Gastonia NC 48,937.04 13,539.80 7.940%
502715006 46 RT Santa Maria CA 43,589.00 4,845.52 7.250%
502723705 47 SS Columbia MD 43,411.50 7,682.12 7.360%
546000048 48 RT Midland MI 41,731.97 4,871.10 7.150%
502716702 49 MF Temple Terrace FL 42,486.88 4,479.03 7.375%
546000050 50 OF Las Vegas NV 41,981.86 4,615.30 7.400%
502704801 51 RT Fairfield CA 40,465.63 4,423.78 7.220%
546000052 52 OF Springfield MO 37,621.60 5,185.87 6.750%
546000053 53 MF Houston TX 39,379.21 4,727.25 7.120%
546000054 54 RT Orange CA 42,402.33 3,940.08 7.700%
546000055 55 MF West Valley City UT 40,256.95 7,499.05 7.455%
546000056 56 OF Escondido CA 39,030.25 4,160.72 7.300%
546000057 57 MU Reno NV 39,204.73 3,971.77 7.500%
546000058 58 MF Fullerton CA 37,165.92 4,288.53 7.130%
546000059 59 RT Tucson AZ 36,592.72 4,502.09 7.040%
546000060 60 OF Tucson AZ 35,248.82 4,596.49 6.900%
502729303 61 RT Boca Raton FL 35,639.41 4,278.74 7.000%
502720817 62 OF Boca Raton FL 33,216.54 7,472.76 6.730%
546000063 63 MF Tucson AZ 33,623.62 4,260.35 6.990%
502726905 64 RT Manchester CT 34,511.91 3,898.64 7.180%
546000065 65 MF Deerfield Beach FL 32,976.51 6,987.56 6.950%
546000066 66 RT Lake Oswego OR 36,565.19 3,272.42 7.770%
502719210 67 IN Maple Grove MN 34,821.83 3,446.84 7.450%
546000068 68 MF San Jose CA 32,717.25 3,911.34 7.010%
502609501 69 RT Des Moines IA 34,860.96 3,433.00 7.550%
546000070 70 RT Ft. Collins CO 35,730.59 3,169.77 7.790%
546000071 71 MF Olympia WA 32,991.44 3,494.21 7.380%
502703301 72 MF San Antonio TX 30,035.82 3,873.84 6.850%
546000073 73 RT Tucson AZ 32,133.31 3,317.33 7.440%
502715018 74 RT Oxnard CA 30,696.48 3,412.33 7.250%
546000075 75 MH Melbourne FL 28,643.91 3,725.37 6.830%
546000076 76 MH Solvang CA 30,581.46 3,216.39 7.310%
546000077 77 OF Rancho Santa Marga CA 28,548.63 3,722.78 6.900%
502715007 78 OF Palm Springs CA 29,775.58 3,309.97 7.250%
502727003 79 MF Redlands CA 26,400.74 3,938.53 6.500%
546000080 80 MF Fallbrook CA 28,366.31 3,435.15 7.000%
546000081 81 MH Punta Gorda FL 29,266.11 3,051.60 7.330%
546000082 82 RT Phoenix AZ 29,473.80 5,055.56 7.500%
502709307 83 RT Richmond VA 29,980.02 2,721.01 7.670%
502728301 84 RT Alpharetta GA 27,355.42 3,068.29 7.160%
546000085 85 OF Colorado Springs CO 26,237.82 3,399.19 6.900%
546000086 86 MF Brookline MA 25,566.07 3,590.94 6.740%
502718703 87 RT Waynesboro PA 27,287.81 5,093.94 7.250%
546000088 88 OF Las Vegas NV 27,778.09 2,987.34 7.360%
502723711 89 RT Burbank CA 28,373.97 2,549.83 7.670%
546000090 90 OF Washington DC 27,477.73 4,695.70 7.570%
546000091 91 IN Various TX 25,507.44 3,028.95 7.162%
502717203 92 OF La Mirada CA 25,382.94 4,794.25 7.250%
546000093 93 MF Rochester MN 24,339.10 5,018.72 7.010%
502728206 94 RT Delray Beach FL 24,210.23 2,870.77 7.050%
546000095 95 MF Sacramento CA 22,462.48 5,264.22 6.650%
546000096 96 OF West Palm Beach FL 25,011.05 2,540.39 7.587%
502723703 97 IN Las Vegas NV 24,300.40 2,365.77 7.510%
546000098 98 RT Canoga Park CA 20,910.20 2,818.75 6.840%
546000099 99 IN North Las Vegas NV 22,706.36 2,441.88 7.420%
502724011 100 MF Bremerton WA 21,740.00 2,513.87 7.125%
502712803 101 RT Phoenix AZ 21,706.12 4,045.08 7.290%
546000102 102 IN Beltsville MD 21,405.31 2,251.69 7.450%
502706207 103 MF Worcester MA 21,892.20 2,172.79 7.625%
502724101 104 IN Warwick RI 21,379.50 3,521.01 7.680%
546000105 105 RT Council Bluffs IA 20,801.49 2,004.72 7.600%
502715017 106 OF Orange CA 19,455.19 3,674.63 7.250%
546000107 107 RT Parker CO 20,624.83 2,123.72 7.670%
502719209 108 IN Pembroke Pines FL 18,447.18 3,391.89 7.330%
502717406 109 RT Branson MO 17,603.86 9,866.65 7.300%
502711704 110 RT Chicago IL 19,107.10 1,711.34 7.700%
502721201 111 RT Chaska MN 17,522.44 3,115.44 7.430%
546000112 112 RT Prescott AZ 18,297.97 1,623.27 7.790%
546000113 113 RT Bremerton WA 16,614.46 1,715.54 7.390%
546000114 114 MF Seattle WA 15,452.36 1,836.62 7.060%
502725602 115 RT Memphis TN 16,633.48 1,397.91 7.820%
546000116 116 MF Seneca SC 14,715.54 1,783.62 7.060%
502719301 117 MF Natchez MS 14,907.19 1,714.00 7.170%
546000118 118 MU Las Vegas NV 15,790.78 1,406.47 7.765%
546000119 119 RT Sugar Land TX 15,433.50 1,512.29 7.600%
546000120 120 MF Sacramento CA 13,250.91 1,915.51 6.650%
546000121 121 OF Boca Raton FL 15,143.69 1,372.69 7.725%
546000122 122 MH Hemet CA 12,499.16 7,699.33 6.980%
546000123 123 RT Lynchburg VA 13,847.42 1,454.18 7.400%
546000124 124 IN Pasadena CA 13,526.53 1,463.39 7.330%
502717409 125 RT Stockbridge GA 13,617.93 2,904.22 7.500%
546000126 126 OF Corvallis OR 14,161.09 5,222.77 8.400%
546000127 127 MU San Francisco CA 13,697.64 2,136.71 7.730%
546000128 128 MF Tacoma WA 12,033.04 1,624.80 6.800%
546000129 129 RT Pasadena CA 13,707.60 1,037.47 8.050%
502724001 130 MF Boca Raton FL 11,826.76 1,871.77 7.020%
546000131 131 RT Henderson NV 12,429.03 1,188.07 7.603%
546000132 132 MF Phoenix AZ 12,573.31 1,147.03 7.860%
546000133 133 MU Redmond WA 11,974.38 1,170.86 7.500%
502701103 134 MF Ontario CA 10,914.58 2,006.87 7.330%
546000135 135 OF Tampa FL 10,739.23 1,112.51 7.470%
502707204 136 MH Waxahachie TX 10,318.78 1,069.83 7.430%
546000137 137 IN Various WA 9,156.48 4,773.97 7.750%
546000138 138 MF Carmichael CA 7,992.61 1,155.39 6.650%
546000139 139 MF Puyallup WA 8,680.31 935.13 7.340%
546000140 140 MF Tacoma WA 8,543.61 920.40 7.340%
546000141 141 MF Ontario CA 7,532.60 1,385.02 7.330%
546000142 142 RT Arlington TX 7,194.63 2,332.01 7.330%
546000143 143 RT League City TX 7,268.58 1,716.73 7.650%
546000144 144 IN Orlando FL 6,881.76 734.42 7.400%
546000145 145 RT Westwood KS 7,295.32 1,044.03 8.450%
546000146 146 MF Fargo ND 6,412.98 647.77 7.600%
502686901 147 IN Lakewood NJ 7,473.36 850.23 8.900%
546000148 148 RT West Valley City UT 5,205.68 995.38 8.050%
546000149 149 IN Del Mar CA 4,683.55 1,777.74 8.400%
546000150 150 OF Fresno CA 4,764.63 429.79 8.350%
546000151 151 RT Methuen MA 4,356.15 962.02 7.900%
546000152 152 MU Las Vegas NV 4,184.53 951.71 7.750%
546000153 153 MU Renton WA 3,821.78 1,656.26 7.500%
546000154 154 RT St. Louis MO 3,435.78 3,053.31 7.500%
546000155 155 MU Roslyn Village NY 3,505.98 1,028.72 8.700%
546000156 156 RT Bellaire TX 2,221.23 1,942.00 7.650%
Totals 5,884,799.35 780,970.88
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>
502727207 04/01/2012 04/01/2032 N 28,085,254.68 28,066,269.17 01/01/2004
502723005 N/A 03/01/2007 N 26,819,025.91 26,800,603.89 01/01/2004
502715310 N/A 05/01/2012 N 25,159,441.28 25,143,077.60 01/01/2004
546000004 N/A 12/01/2006 N 22,198,156.62 22,183,800.67 01/01/2004
546000005 N/A 04/01/2011 N 19,818,014.11 19,803,632.88 01/01/2004
502722104 N/A 03/01/2012 N 18,705,617.47 18,692,590.06 01/01/2004
502716604 N/A 03/01/2012 N 17,707,735.93 17,694,688.15 01/01/2004
502719801 N/A 02/01/2012 N 17,216,251.17 17,204,674.64 01/01/2004
546000009 N/A 01/01/2012 N 16,958,159.87 16,947,560.48 01/01/2004
546000010 N/A 10/11/2021 N 15,084,148.97 15,055,614.19 01/11/2004
546000011 N/A 03/11/2012 N 15,106,507.76 15,095,683.77 01/11/2004
546000012 N/A 04/01/2011 N 14,787,329.20 14,776,703.35 01/01/2004
546000013 N/A 12/01/2011 N 12,759,114.51 12,749,780.36 01/01/2004
502719202 N/A 05/01/2007 N 12,523,772.55 12,515,235.69 01/01/2004
546000015 N/A 10/11/2011 N 12,422,190.94 12,409,958.63 01/11/2004
502721404 N/A 04/01/2012 N 11,929,251.77 11,921,489.65 01/01/2004
546000017 N/A 11/01/2011 N 11,766,007.41 11,757,299.63 01/01/2004
546000018 N/A 05/11/2012 N 11,472,666.90 11,464,503.52 01/11/2004
546000019 N/A 09/01/2009 N 11,039,361.32 11,026,713.68 01/01/2004
502721401 N/A 03/01/2012 N 10,581,465.88 10,573,990.65 01/01/2004
546000021 N/A 12/01/2011 N 10,644,000.00 10,637,369.05 01/01/2004
502723605 N/A 12/01/2009 N 9,835,798.89 9,824,200.84 01/01/2004
502724302 N/A 04/01/2012 N 9,830,378.27 9,822,381.71 01/01/2004
502718702 N/A 04/01/2012 N 9,636,144.60 9,617,818.71 01/01/2004
502718803 N/A 04/01/2012 N 9,372,233.40 9,366,492.36 01/01/2004
502715021 N/A 12/01/2009 N 9,243,771.06 9,237,355.87 01/01/2004
546000027 N/A 10/11/2021 N 8,963,529.70 8,946,573.33 01/11/2004
502722702 N/A 05/01/2012 N 9,087,146.40 9,081,244.91 01/01/2004
502716504 N/A 02/01/2012 N 8,957,296.81 8,946,629.89 01/01/2004
546000030 N/A 12/11/2006 N 8,841,781.16 8,835,719.91 01/11/2004
546000031 N/A 05/01/2012 N 8,754,751.00 8,748,954.98 01/01/2004
502730405 N/A 04/01/2012 N 8,700,000.00 8,700,000.00 01/01/2004
546000033 N/A 01/01/2012 N 8,430,258.86 8,423,324.82 12/01/2003
546000034 N/A 01/01/2012 N 8,238,827.79 8,232,278.95 01/01/2004
546000035 N/A 03/11/2012 N 8,134,487.32 8,129,485.19 01/11/2004
546000036 N/A 05/11/2012 N 7,993,121.07 7,987,999.35 01/11/2004
546000037 N/A 04/01/2012 N 7,899,064.70 7,894,605.91 01/01/2004
502727906 N/A 04/01/2012 N 7,872,875.48 7,866,951.18 01/01/2004
546000039 N/A 01/01/2012 N 7,861,117.42 7,855,593.81 01/01/2004
502712503 N/A 02/01/2012 N 7,683,746.40 7,674,195.18 01/01/2004
546000041 N/A 01/11/2012 N 7,754,641.42 7,749,765.16 01/11/2004
502723516 N/A 04/01/2012 N 7,505,541.06 7,499,273.88 01/01/2004
502715016 N/A 12/01/2009 N 7,473,687.16 7,468,500.40 01/01/2004
546000044 N/A 05/11/2012 N 7,404,358.05 7,399,810.85 01/11/2004
546000045 N/A 10/11/2021 N 7,157,445.13 7,143,905.33 01/11/2004
502715006 N/A 12/01/2009 N 6,981,997.16 6,977,151.64 01/01/2004
502723705 N/A 05/01/2012 N 6,849,640.79 6,841,958.67 01/01/2004
546000048 N/A 01/01/2012 N 6,778,032.49 6,773,161.39 01/01/2004
502716702 N/A 02/01/2012 N 6,690,116.22 6,685,637.19 01/01/2004
546000050 N/A 07/01/2011 N 6,588,260.31 6,583,645.01 01/01/2004
502704801 N/A 05/01/2012 N 6,508,634.57 6,504,210.79 01/01/2004
546000052 N/A 01/01/2012 N 6,472,532.90 6,467,347.03 01/01/2004
546000053 N/A 11/01/2011 N 6,422,850.70 6,418,123.45 01/01/2004
546000054 N/A 12/01/2011 N 6,394,988.60 6,391,048.52 01/01/2004
546000055 N/A 07/01/2011 N 6,270,959.96 6,263,460.91 01/01/2004
546000056 N/A 04/01/2012 N 6,208,965.35 6,204,804.63 12/01/2003
546000057 N/A 12/01/2011 N 6,070,410.20 6,066,438.43 01/01/2004
546000058 N/A 03/11/2012 N 6,053,355.72 6,049,067.19 01/11/2004
546000059 N/A 12/01/2011 N 6,036,188.42 6,031,686.33 01/01/2004
546000060 N/A 12/01/2011 N 5,932,480.26 5,927,883.77 01/01/2004
502729303 N/A 05/01/2012 N 5,912,528.66 5,908,249.92 01/01/2004
502720817 N/A 02/01/2012 N 5,731,656.35 5,724,183.59 01/01/2004
546000063 N/A 11/01/2011 N 5,586,092.24 5,581,831.89 01/01/2004
502726905 N/A 03/01/2012 N 5,581,942.34 5,578,043.70 01/01/2004
546000065 N/A 12/11/2011 N 5,510,115.21 5,503,127.65 01/11/2004
546000066 N/A 01/01/2012 N 5,464,967.80 5,461,695.38 01/01/2004
502719210 N/A 05/01/2012 N 5,427,953.77 5,424,506.93 01/01/2004
546000068 N/A 05/01/2012 N 5,420,004.41 5,416,093.07 01/01/2004
502609501 N/A 01/01/2012 N 5,362,078.87 5,358,645.87 01/01/2004
546000070 N/A 01/01/2012 N 5,326,519.75 5,323,349.98 01/01/2004
546000071 N/A 01/01/2012 N 5,191,414.60 5,187,920.39 01/01/2004
502703301 N/A 04/01/2012 N 5,092,015.11 5,088,141.27 01/01/2004
546000073 N/A 01/01/2012 N 5,015,605.56 5,012,288.23 01/01/2004
502715018 N/A 12/01/2009 N 4,916,899.56 4,913,487.23 01/01/2004
546000075 N/A 04/11/2012 N 4,870,262.13 4,866,536.76 01/11/2004
546000076 N/A 05/01/2012 N 4,858,270.24 4,855,053.85 01/01/2004
546000077 N/A 12/11/2011 N 4,804,818.72 4,801,095.94 01/11/2004
502715007 N/A 12/01/2009 N 4,769,392.47 4,766,082.50 01/01/2004
502727003 N/A 04/01/2012 N 4,716,757.89 4,712,819.36 01/01/2004
546000080 N/A 04/01/2007 N 4,705,930.90 4,702,495.75 01/01/2004
546000081 N/A 05/11/2007 N 4,636,623.62 4,633,572.02 01/11/2004
546000082 N/A 03/11/2012 N 4,563,685.06 4,558,629.50 01/11/2004
502709307 N/A 04/01/2012 N 4,539,179.26 4,536,458.25 01/01/2004
502728301 N/A 05/01/2012 N 4,436,813.42 4,433,745.13 01/01/2004
546000085 N/A 01/01/2012 N 4,415,902.47 4,412,503.28 01/01/2004
546000086 N/A 11/01/2011 N 4,404,988.83 4,401,397.89 01/01/2004
502718703 N/A 03/01/2012 N 4,370,905.43 4,365,811.49 01/01/2004
546000088 N/A 12/01/2011 N 4,382,937.90 4,379,950.56 01/01/2004
502723711 N/A 05/01/2007 N 4,296,013.03 4,293,463.20 01/01/2004
546000090 N/A 01/01/2012 N 4,215,273.80 4,210,578.10 01/01/2004
546000091 N/A 10/01/2011 N 4,135,931.72 4,132,902.77 01/01/2004
502717203 N/A 12/01/2009 N 4,065,788.02 4,060,993.77 01/01/2004
546000093 N/A 01/01/2007 N 4,032,063.17 4,027,044.45 01/01/2004
502728206 N/A 04/01/2012 N 3,987,959.03 3,985,088.26 01/01/2004
546000095 N/A 12/01/2011 N 3,922,625.60 3,917,361.38 01/01/2004
546000096 N/A 07/01/2011 N 3,828,271.28 3,825,730.89 01/01/2004
502723703 N/A 04/01/2012 N 3,757,632.47 3,755,266.70 01/01/2004
546000098 N/A 11/01/2011 N 3,550,119.08 3,547,300.33 01/01/2004
546000099 N/A 09/01/2011 N 3,553,729.63 3,551,287.75 01/01/2004
502724011 N/A 03/01/2012 N 3,543,361.19 3,540,847.32 01/01/2004
502712803 N/A 02/01/2012 N 3,457,765.13 3,453,720.05 01/01/2004
546000102 N/A 10/01/2011 N 3,336,613.92 3,334,362.23 01/01/2004
502706207 N/A 08/01/2011 N 3,334,190.22 3,332,017.43 12/01/2003
502724101 N/A 01/10/2012 N 3,232,786.74 3,229,265.73 01/10/2004
546000105 N/A 01/01/2012 N 3,178,495.74 3,176,491.02 01/01/2004
502715017 N/A 12/01/2009 N 3,116,292.70 3,112,618.07 01/01/2004
546000107 N/A 02/01/2011 N 3,122,740.32 3,120,616.60 01/01/2004
502719209 N/A 02/01/2012 N 2,922,583.28 2,919,191.39 01/01/2004
502717406 N/A 03/01/2010 N 2,800,437.48 2,790,570.83 12/01/2003
502711704 N/A 04/01/2012 N 2,881,674.30 2,879,962.96 01/01/2004
502721201 N/A 02/01/2012 N 2,738,713.26 2,735,597.82 01/01/2004
546000112 N/A 01/01/2012 N 2,727,761.11 2,726,137.84 01/01/2004
546000113 N/A 03/01/2012 N 2,610,854.36 2,609,138.82 01/01/2004
546000114 N/A 03/01/2012 N 2,541,738.01 2,539,901.39 01/01/2004
502725602 N/A 05/01/2012 N 2,470,114.94 2,468,717.03 01/01/2004
546000116 N/A 01/01/2012 N 2,420,539.92 2,418,756.30 01/01/2004
502719301 N/A 02/01/2012 N 2,414,445.76 2,412,731.76 01/01/2004
546000118 N/A 02/01/2012 N 2,361,582.17 2,360,175.70 01/01/2004
546000119 N/A 11/01/2011 N 2,358,259.48 2,356,747.19 01/01/2004
546000120 N/A 12/01/2011 N 2,314,007.66 2,312,092.15 01/01/2004
546000121 N/A 02/01/2012 N 2,276,533.43 2,275,160.74 01/01/2004
546000122 N/A 01/11/2012 N 2,079,535.67 2,071,836.34 01/11/2004
546000123 N/A 01/01/2012 N 2,173,091.18 2,171,637.00 01/01/2004
546000124 N/A 01/01/2012 N 2,143,004.56 2,141,541.17 01/01/2004
502717409 N/A 03/01/2012 N 2,108,583.23 2,105,679.01 01/01/2004
546000126 N/A 08/01/2019 N 2,023,013.31 2,017,790.54 01/01/2004
546000127 N/A 05/01/2012 N 2,057,818.39 2,055,681.68 01/01/2004
546000128 N/A 01/01/2012 N 2,054,978.17 2,053,353.37 01/01/2004
546000129 N/A 05/01/2012 N 1,977,453.68 1,976,416.21 01/01/2004
502724001 N/A 02/01/2012 N 1,956,454.09 1,954,582.32 01/01/2004
546000131 N/A 02/01/2012 N 1,898,422.87 1,897,234.80 01/01/2004
546000132 N/A 06/01/2011 N 1,857,666.34 1,856,519.31 01/01/2004
546000133 N/A 04/01/2012 N 1,854,097.52 1,852,926.66 01/01/2004
502701103 N/A 02/01/2012 N 1,729,195.10 1,727,188.23 01/01/2004
546000135 N/A 11/01/2011 N 1,669,527.25 1,668,414.74 01/01/2004
502707204 N/A 01/01/2012 N 1,612,798.91 1,611,729.08 01/01/2004
546000137 N/A 11/01/2008 N 1,372,042.06 1,367,268.09 01/01/2004
546000138 N/A 12/01/2011 N 1,395,750.63 1,394,595.24 01/01/2004
546000139 N/A 01/01/2012 N 1,373,346.23 1,372,411.10 01/01/2004
546000140 N/A 01/01/2012 N 1,351,718.89 1,350,798.49 01/01/2004
546000141 N/A 02/01/2012 N 1,193,388.20 1,192,003.18 01/01/2004
546000142 N/A 03/01/2022 N 1,139,843.24 1,137,511.23 01/01/2004
546000143 N/A 08/01/2008 N 1,103,390.16 1,101,673.43 01/01/2004
546000144 N/A 11/01/2011 N 1,079,961.72 1,079,227.30 01/01/2004
546000145 N/A 12/01/2010 N 1,002,601.90 1,001,557.87 01/01/2004
546000146 N/A 07/01/2011 N 979,911.64 979,263.87 01/01/2004
502686901 N/A 08/01/2011 N 975,139.49 974,289.26 01/01/2004
546000148 N/A 06/01/2009 N 750,969.64 749,974.26 01/01/2004
546000149 N/A 05/01/2019 N 669,078.13 667,300.39 01/01/2004
546000150 N/A 08/01/2009 N 662,648.52 662,218.73 01/01/2004
546000151 N/A 07/01/2008 N 640,348.88 639,386.86 01/01/2004
546000152 N/A 09/01/2008 N 627,026.01 626,074.30 12/01/2003
546000153 N/A 10/01/2008 N 591,759.13 590,102.87 01/01/2004
546000154 N/A 01/01/2014 N 549,724.47 546,671.16 01/01/2004
546000155 N/A 08/01/2009 N 467,983.73 466,955.01 01/01/2004
546000156 N/A 12/01/2013 N 348,427.61 346,485.61 01/01/2004
Totals 934,668,752.12 933,887,781.24
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 1 $1,861,862.95 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 7.312625% 7.253161% 93
12/15/2003 7.312654% 7.253191% 94
11/17/2003 7.312689% 7.253227% 95
10/15/2003 7.312720% 7.253258% 96
09/15/2003 7.312755% 7.253293% 97
08/15/2003 7.312784% 7.253323% 98
07/15/2003 7.312813% 7.253353% 99
06/16/2003 7.312847% 7.253387% 100
05/15/2003 7.312876% 7.253416% 101
04/15/2003 7.312908% 7.253450% 102
03/17/2003 7.312936% 7.253478% 103
02/18/2003 7.312992% 7.253534% 104
<FN>
Note: Foreclosure and REO Totals are excluded from the delinquencies aging
categories.
</FN>
Delinquency Loan Detail
<Table>
Loan Offering # of Paid Through Current Outstanding Status of
Number Document Months Date P&I P&I Mortgage
Cross-Reference Delinq. Advances Advances Loan
<s> <c> <c> <c> <c> <c> <c>
546000033 33 0 12/01/2003 54,611.84 54,611.84 A
546000056 56 0 12/01/2003 42,932.27 42,932.27 A
502706207 103 0 12/01/2003 23,926.07 23,926.07 A
502717406 109 0 12/01/2003 27,353.83 27,353.83 A
546000152 152 0 12/01/2003 5,110.12 5,110.12 A
Totals 5 153,934.13 153,934.13
</table>
<table>
<caption>
Loan Number Resolution Servicing Forclosure Actual Outstanding Bankruptcy REO
Strategy Transfer Date Principal Servicing Date Date
Code Date Balance Advances
<s> <c> <c> <c> <c> <c> <c> <c>
546000033 8,430,258.86 0.00
546000056 6,208,965.35 0.00
502706207 3,334,190.22 0.00
502717406 2,800,437.48 0.00
546000152 627,026.01 0.00
Totals 21,400,877.92 0.00
Totals By Delinquency Code: Current P&I Outstanding Actual Outstanding
Advances P&I Principal Servicing
Advances Balance Advances
Total for Status Code = A (5 loans) 153,934.13 153,934.13 21,400,877.92 0.00
(1) Status of Mortgage Loan
A - Payment Not Received 0 - Current 4 - Assumed Scheduled Payment
But Still in Grace Period 1 - One Month Delinquent (Performing Matured Balloon)
B - Late Payment But Less 2 - Two Months Delinquent 7 - Foreclosure
Than 1 Month Delinquent 3 - Three or More Months Delinquent 9 - REO
** Outstanding P & I Advances include the current period advance.
1 - Modification (2) Resolution Strategy Code 10 - Deed In Lieu Of
2 - Foreclosure 6 - DPO Foreclosure
3 - Bankruptcy 7 - REO 11 - Full Payoff
4 - Extension 8 - Resolved 12 - Reps and Warranties
5 - Note Sale 9 - Pending Return 13 - Other or TBD
to Master Servicer
</table>
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