UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
Form 8-K/A
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 27, 2003
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset-Backed Certificates, Series 2003-2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-91334-05 54-2121830
Pooling and Servicing Agreement) (Commission 54-2121828
(State or other File Number) 54-2121829
jurisdiction IRS EIN
of Incorporation)
c/o Wells Fargo Bank Minnesota, N.A.,
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
ITEM 5. Other Events
Subsequent to filing the 8-K relating to the payment date on October 27, 2003,
a revision was made to the BEAR STEARNS ASSET BACKED SECURITIES TRUST,
Asset-Backed Certificates, Series 2003-2 which was not included in the
original 8-K filed. This revision was not previously disclosed in a 1934
Act filing. An amended 8-K will be filed. The revised data has been and will
continue to be available on the Wells Fargo Bank, Minnesota, as Securities
Administrator, website at www.ctslink.com.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1 Amended monthly report distributed to
holders of Asset-Backed Certificates,
Series 2003-2 Trust, relating to the
October 27, 2003 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset-Backed Certificates, Series 2003-2 Trust
By: Wells Fargo Bank Minnesota, N.A. as Securities
Administrator
By: /s/ Beth Belfield as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 12/23/03
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Amended monthly report distributed to holders of
Asset-Backed Certificates, Series 2003-2 Trust,
relating to the October 27, 2003 distribution.
EX-99.1
Bear Stearns Asset Backed Securities
Asset-Backed Certificates
Record Date: 9/30/03
Distribution Date: 10/27/03
BSA Series: 2003-2
Contact: CTSLink Customer Service
Wells Fargo Bank Minnesota, N.A.
Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
Telephone: (301) 815-6600
Fax: (301) 815-6600
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<s> <c> <c> <c> <c> <c> <c>
A-1 07384YJN7 SEN 1.52000% 172,003,776.97 232,396.21 7,132,208.23
A-2 07384YJP2 SEN 1.57000% 188,784,925.17 263,459.85 8,304,816.34
A-3 07384YJQ0 SEN 1.87000% 28,579,000.00 47,504.65 0.00
A-IO 07384YJT4 IO 5.00000% 0.00 215,416.67 0.00
M-1 07384YJU1 MEZ 2.32000% 25,851,000.00 53,310.51 0.00
M-2 07384YJV9 MEZ 3.12000% 23,265,000.00 64,521.60 0.00
B 07384YJW7 SUB 4.62000% 20,680,000.00 84,925.87 0.00
B-IO BSA032BIO IO 0.00000% 0.00 0.00 0.00
R-1 BSA0302R1 RES 0.00000% 0.00 0.00 0.00
R-2 BSA0302R2 RES 0.00000% 0.00 0.00 0.00
R-3 BSA0302R3 RES 0.00000% 0.00 0.00 0.00
OC BSA0302OC OC 0.00000% 4,049,080.32 0.00 0.00
Totals 463,212,782.46 961,535.36 15,437,024.57
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 164,871,568.74 7,364,604.44 0.00
A-2 0.00 180,480,108.84 8,568,276.19 0.00
A-3 0.00 28,579,000.00 47,504.65 0.00
A-IO 0.00 0.00 215,416.67 0.00
M-1 0.00 25,851,000.00 53,310.51 0.00
M-2 0.00 23,265,000.00 64,521.60 0.00
B 0.00 20,680,000.00 84,925.87 0.00
B-IO 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00
OC 0.00 5,921,824.47 0.00 0.00
Totals 0.00 449,648,502.05 16,398,559.93 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
A-1 200,005,000.00 172,003,776.97 0.00 7,132,208.23 0.00 0.00
A-2 218,628,000.00 188,784,925.17 0.00 8,304,816.34 0.00 0.00
A-3 28,579,000.00 28,579,000.00 0.00 0.00 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
M-1 25,851,000.00 25,851,000.00 0.00 0.00 0.00 0.00
M-2 23,265,000.00 23,265,000.00 0.00 0.00 0.00 0.00
B 20,680,000.00 20,680,000.00 0.00 0.00 0.00 0.00
B-IO 0.00 0.00 0.00 0.00 0.00 0.00
R-1 50.00 0.00 0.00 0.00 0.00 0.00
R-2 50.00 0.00 0.00 0.00 0.00 0.00
R-3 50.00 0.00 0.00 0.00 0.00 0.00
OC 569.35 4,049,080.32 0.00 0.00 0.00 0.00
Totals 517,008,719.35 463,212,782.46 0.00 15,437,024.57 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
A-1 7,132,208.23 164,871,568.74 0.82433724 7,132,208.23
A-2 8,304,816.34 180,480,108.84 0.82551233 8,304,816.34
A-3 0.00 28,579,000.00 1.00000000 0.00
A-IO 0.00 0.00 0.00000000 0.00
M-1 0.00 25,851,000.00 1.00000000 0.00
M-2 0.00 23,265,000.00 1.00000000 0.00
B 0.00 20,680,000.00 1.00000000 0.00
B-IO 0.00 0.00 0.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
R-3 0.00 0.00 0.00000000 0.00
OC 0.00 5,921,824.47 10,401.02655660 0.00
Totals 15,437,024.57 449,648,502.05 0.86971164 15,437,024.57
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
A-1 200,005,000.00 859.99738492 0.00000000 35.66014965 0.00000000
A-2 218,628,000.00 863.49838616 0.00000000 37.98606007 0.00000000
A-3 28,579,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M-1 25,851,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 23,265,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 20,680,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000
R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000
R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000
OC 569.35 7111759.58549223 0.00000000 0.00000000 0.00000000
<FN>
All Classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 35.66014965 824.33723527 0.82433724 35.66014965
A-2 0.00000000 37.98606007 825.51232614 0.82551233 37.98606007
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 10,401,026.55659960 10401.02655660 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 200,005,000.00 1.52000% 172,003,776.97 232,396.21 0.00 0.00
A-2 218,628,000.00 1.57000% 188,784,925.17 263,459.85 0.00 0.00
A-3 28,579,000.00 1.87000% 28,579,000.00 47,504.65 0.00 0.00
A-IO 0.00 5.00000% 51,700,000.00 215,416.67 0.00 0.00
M-1 25,851,000.00 2.32000% 25,851,000.00 53,310.51 0.00 0.00
M-2 23,265,000.00 3.12000% 23,265,000.00 64,521.60 0.00 0.00
B 20,680,000.00 4.62000% 20,680,000.00 84,925.87 0.00 0.00
B-IO 0.00 0.00000% 463,212,782.47 0.00 0.00 0.00
R-1 50.00 0.00000% 0.00 0.00 0.00 0.00
R-2 50.00 0.00000% 0.00 0.00 0.00 0.00
R-3 50.00 0.00000% 0.00 0.00 0.00 0.00
OC 569.35 0.00000% 4,049,080.32 0.00 0.00 0.00
Totals 517,008,719.35 961,535.36 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00 0.00 232,396.21 0.00 164,871,568.74
A-2 0.00 0.00 263,459.85 0.00 180,480,108.84
A-3 0.00 0.00 47,504.65 0.00 28,579,000.00
A-IO 0.00 0.00 215,416.67 0.00 51,700,000.00
M-1 0.00 0.00 53,310.51 0.00 25,851,000.00
M-2 0.00 0.00 64,521.60 0.00 23,265,000.00
B 0.00 0.00 84,925.87 0.00 20,680,000.00
B-IO 0.00 0.00 0.00 0.00 449,648,502.05
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00
OC 0.00 0.00 0.00 0.00 5,921,824.47
Totals 0.00 0.00 961,535.36 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 200,005,000.00 1.52000% 859.99738492 1.16195200 0.00000000 0.00000000
A-2 218,628,000.00 1.57000% 863.49838616 1.20505996 0.00000000 0.00000000
A-3 28,579,000.00 1.87000% 1000.00000000 1.66222226 0.00000000 0.00000000
A-IO 0.00 5.00000% 1000.00000000 4.16666673 0.00000000 0.00000000
M-1 25,851,000.00 2.32000% 1000.00000000 2.06222235 0.00000000 0.00000000
M-2 23,265,000.00 3.12000% 1000.00000000 2.77333333 0.00000000 0.00000000
B 20,680,000.00 4.62000% 1000.00000000 4.10666683 0.00000000 0.00000000
B-IO 0.00 0.00000% 895.94797829 0.00000000 0.00000000 0.00000000
R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
OC 569.35 0.00000% 7111759.58549223 0.00000000 0.00000000 0.00000000
<FN>
All Classes are per $1,000 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 0.00000000 1.16195200 0.00000000 824.33723527
A-2 0.00000000 0.00000000 1.20505996 0.00000000 825.51232614
A-3 0.00000000 0.00000000 1.66222226 0.00000000 1000.00000000
A-IO 0.00000000 0.00000000 4.16666673 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 2.06222235 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.77333333 0.00000000 1000.00000000
B 0.00000000 0.00000000 4.10666683 0.00000000 1000.00000000
B-IO 0.00000000 0.00000000 0.00000000 0.00000000 869.71189397
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 10401026.55659960
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 16,558,630.91
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 486,495.93
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
Total Deposits 17,045,126.84
Withdrawals
Reimbursement for Servicer Advances 468,549.36
Payment of Service Fee 178,017.55
Payment of Interest and Principal 16,398,559.93
Total Withdrawals (Pool Distribution Amount) 17,045,126.84
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
<s> <c>
Gross Servicing Fee 174,157.46
Master Servicing Fee 3,860.09
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 178,017.55
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 14 0 0 14
1,130,199.08 0.00 0.00 1,130,199.08
30 Days 280 3 2 0 285
28,654,567.73 247,685.63 409,488.10 0.00 29,311,741.46
60 Days 114 1 2 0 117
13,878,135.42 61,078.16 430,331.67 0.00 14,369,545.25
90 Days 49 1 11 0 61
5,698,414.28 62,842.81 862,387.91 0.00 6,623,645.00
120 Days 45 2 8 0 55
6,274,770.41 169,727.82 752,188.40 0.00 7,196,686.63
150 Days 24 1 7 0 32
3,882,716.43 69,596.06 645,388.92 0.00 4,597,701.41
180+ Days 18 1 6 0 25
1,581,129.51 81,286.56 425,759.85 0.00 2,088,175.92
Totals 530 23 36 0 589
59,969,733.78 1,822,416.12 3,525,544.85 0.00 65,317,694.75
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0.317316% 0.000000% 0.000000% 0.317316%
0.250867% 0.000000% 0.000000% 0.250867%
30 Days 6.346328% 0.067996% 0.045331% 0.000000% 6.459655%
6.360358% 0.054978% 0.090893% 0.000000% 6.506229%
60 Days 2.583862% 0.022665% 0.045331% 0.000000% 2.651859%
3.080483% 0.013557% 0.095519% 0.000000% 3.189560%
90 Days 1.110607% 0.022665% 0.249320% 0.000000% 1.382593%
1.264858% 0.013949% 0.191421% 0.000000% 1.470228%
120 Days 1.019946% 0.045331% 0.181324% 0.000000% 1.246600%
1.392790% 0.037674% 0.166961% 0.000000% 1.597424%
150 Days 0.543971% 0.022665% 0.158658% 0.000000% 0.725295%
0.861834% 0.015448% 0.143255% 0.000000% 1.020536%
180+ Days 0.407978% 0.022665% 0.135993% 0.000000% 0.566636%
0.350958% 0.018043% 0.094504% 0.000000% 0.463505%
Totals 12.012693% 0.521306% 0.815956% 0.000000% 13.349955%
13.311281% 0.404516% 0.782553% 0.000000% 14.498350%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 3 0 0 3
191,318.06 0.00 0.00 191,318.06
30 Days 23 1 0 0 24
1,787,414.50 154,419.15 0.00 0.00 1,941,833.65
60 Days 11 0 0 0 11
1,233,354.35 0.00 0.00 0.00 1,233,354.35
90 Days 4 1 3 0 8
687,139.49 62,842.81 146,616.01 0.00 896,598.31
120 Days 2 0 2 0 4
267,253.73 0.00 166,882.24 0.00 434,135.97
150 Days 5 0 3 0 8
313,468.57 0.00 240,083.37 0.00 553,551.94
180 Days 2 0 1 0 3
451,159.90 0.00 110,121.32 0.00 561,281.22
Totals 47 5 9 0 61
4,739,790.54 408,580.02 663,702.94 0.00 5,812,073.50
0-29 Days 0.722892% 0.000000% 0.000000% 0.722892%
0.319872% 0.000000% 0.000000% 0.319872%
30 Days 5.542169% 0.240964% 0.000000% 0.000000% 5.783133%
2.988450% 0.258180% 0.000000% 0.000000% 3.246630%
60 Days 2.650602% 0.000000% 0.000000% 0.000000% 2.650602%
2.062095% 0.000000% 0.000000% 0.000000% 2.062095%
90 Days 0.963855% 0.240964% 0.722892% 0.000000% 1.927711%
1.148856% 0.105069% 0.245133% 0.000000% 1.499059%
120 Days 0.481928% 0.000000% 0.481928% 0.000000% 0.963855%
0.446832% 0.000000% 0.279017% 0.000000% 0.725849%
150 Days 1.204819% 0.000000% 0.722892% 0.000000% 1.927711%
0.524101% 0.000000% 0.401405% 0.000000% 0.925506%
180 Days 0.481928% 0.000000% 0.240964% 0.000000% 0.722892%
0.754312% 0.000000% 0.184116% 0.000000% 0.938429%
Totals 11.325301% 1.204819% 2.168675% 0.000000% 14.698795%
7.924647% 0.683121% 1.109672% 0.000000% 9.717440%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 4 0 0 4
499,427.30 0.00 0.00 499,427.30
30 Days 99 0 2 0 101
14,834,948.70 0.00 409,488.10 0.00 15,244,436.80
60 Days 40 0 2 0 42
7,787,544.04 0.00 430,331.67 0.00 8,217,875.71
90 Days 22 0 5 0 27
3,223,662.96 0.00 386,238.77 0.00 3,609,901.73
120 Days 15 1 2 0 18
3,992,554.60 99,569.58 266,354.14 0.00 4,358,478.32
150 Days 11 0 3 0 14
3,075,770.82 0.00 194,557.73 0.00 3,270,328.55
180 Days 4 1 3 0 8
456,655.80 81,286.56 136,225.27 0.00 674,167.63
Totals 191 6 17 0 214
33,371,136.92 680,283.44 1,823,195.68 0.00 35,874,616.04
0-29 Days 0.390625% 0.000000% 0.000000% 0.390625%
0.358104% 0.000000% 0.000000% 0.358104%
30 Days 9.667969% 0.000000% 0.195313% 0.000000% 9.863281%
10.637106% 0.000000% 0.293615% 0.000000% 10.930721%
60 Days 3.906250% 0.000000% 0.195313% 0.000000% 4.101563%
5.583904% 0.000000% 0.308561% 0.000000% 5.892465%
90 Days 2.148438% 0.000000% 0.488281% 0.000000% 2.636719%
2.311464% 0.000000% 0.276945% 0.000000% 2.588408%
120 Days 1.464844% 0.097656% 0.195313% 0.000000% 1.757813%
2.862782% 0.071394% 0.190984% 0.000000% 3.125160%
150 Days 1.074219% 0.000000% 0.292969% 0.000000% 1.367188%
2.205421% 0.000000% 0.139504% 0.000000% 2.344924%
180 Days 0.390625% 0.097656% 0.292969% 0.000000% 0.781250%
0.327436% 0.058285% 0.097678% 0.000000% 0.483399%
Totals 18.652344% 0.585938% 1.660156% 0.000000% 20.898438%
23.928112% 0.487784% 1.307286% 0.000000% 25.723182%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 7 0 0 7
439,453.72 0.00 0.00 439,453.72
30 Days 141 2 0 0 143
11,173,707.17 93,266.48 0.00 0.00 11,266,973.65
60 Days 54 1 0 0 55
4,416,367.63 61,078.16 0.00 0.00 4,477,445.79
90 Days 19 0 3 0 22
1,547,509.99 0.00 329,533.13 0.00 1,877,043.12
120 Days 25 1 4 0 30
1,881,361.79 70,158.24 318,952.02 0.00 2,270,472.05
150 Days 5 1 1 0 7
378,533.73 69,596.06 210,747.82 0.00 658,877.61
180 Days 11 0 2 0 13
623,620.11 0.00 179,413.26 0.00 803,033.37
Totals 255 12 10 0 277
20,021,100.42 733,552.66 1,038,646.23 0.00 21,793,299.31
0-29 Days 0.263356% 0.000000% 0.000000% 0.263356%
0.186429% 0.000000% 0.000000% 0.186429%
30 Days 5.304740% 0.075245% 0.000000% 0.000000% 5.379985%
4.740205% 0.039566% 0.000000% 0.000000% 4.779772%
60 Days 2.031603% 0.037622% 0.000000% 0.000000% 2.069225%
1.873549% 0.025911% 0.000000% 0.000000% 1.899460%
90 Days 0.714823% 0.000000% 0.112867% 0.000000% 0.827690%
0.656498% 0.000000% 0.139797% 0.000000% 0.796295%
120 Days 0.940557% 0.037622% 0.150489% 0.000000% 1.128668%
0.798127% 0.029763% 0.135309% 0.000000% 0.963199%
150 Days 0.188111% 0.037622% 0.037622% 0.000000% 0.263356%
0.160585% 0.029525% 0.089405% 0.000000% 0.279515%
180 Days 0.413845% 0.000000% 0.075245% 0.000000% 0.489090%
0.264557% 0.000000% 0.076112% 0.000000% 0.340670%
Totals 9.593679% 0.451467% 0.376223% 0.000000% 10.421369%
8.493522% 0.311194% 0.440623% 0.000000% 9.245340%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 4 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 17 0 0 0 17
858,497.36 0.00 0.00 0.00 858,497.36
60 Days 9 0 0 0 9
440,869.40 0.00 0.00 0.00 440,869.40
90 Days 4 0 0 0 4
240,101.84 0.00 0.00 0.00 240,101.84
120 Days 3 0 0 0 3
133,600.29 0.00 0.00 0.00 133,600.29
150 Days 3 0 0 0 3
114,943.31 0.00 0.00 0.00 114,943.31
180 Days 1 0 0 0 1
49,693.70 0.00 0.00 0.00 49,693.70
Totals 37 0 0 0 37
1,837,705.90 0.00 0.00 0.00 1,837,705.90
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 5.396825% 0.000000% 0.000000% 0.000000% 5.396825%
5.531113% 0.000000% 0.000000% 0.000000% 5.531113%
60 Days 2.857143% 0.000000% 0.000000% 0.000000% 2.857143%
2.840426% 0.000000% 0.000000% 0.000000% 2.840426%
90 Days 1.269841% 0.000000% 0.000000% 0.000000% 1.269841%
1.546924% 0.000000% 0.000000% 0.000000% 1.546924%
120 Days 0.952381% 0.000000% 0.000000% 0.000000% 0.952381%
0.860758% 0.000000% 0.000000% 0.000000% 0.860758%
150 Days 0.952381% 0.000000% 0.000000% 0.000000% 0.952381%
0.740555% 0.000000% 0.000000% 0.000000% 0.740555%
180 Days 0.317460% 0.000000% 0.000000% 0.000000% 0.317460%
0.320166% 0.000000% 0.000000% 0.000000% 0.320166%
Totals 11.746032% 0.000000% 0.000000% 0.000000% 11.746032%
11.839942% 0.000000% 0.000000% 0.000000% 11.839942%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 486,495.93
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 7.803663%
Weighted Average Net Coupon 7.352490%
Weighted Average Pass-Through Rate 7.342490%
Weighted Average Maturity(Stepdown Calculation ) 300
Beginning Scheduled Collateral Loan Count 4,512
Number Of Loans Paid In Full 100
Ending Scheduled Collateral Loan Count 4,412
Beginning Scheduled Collateral Balance 463,212,782.47
Ending Scheduled Collateral Balance 449,648,502.05
Ending Actual Collateral Balance at 30-Sep-2003 450,518,131.68
Monthly P &I Constant 3,683,839.03
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 449,648,502.05
Scheduled Principal 671,541.98
Unscheduled Principal 12,892,738.44
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 1,872,744.15
Overcollateralized reduction Amount 0.00
Specified O/C Amount 9,306,154.25
Overcollateralized Amount 5,921,824.47
Overcollateralized Deficiency Amount 3,384,329.78
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 1,872,744.15
Excess Cash Amount 1,872,744.15
Group Level Collateral Statement
Group Group 1 Group 2 Group 3
Collateral Description Mixed Fixed Mixed ARM Mixed Fixed
Weighted Average Coupon Rate 6.962798 7.191840 8.291247
Weighted Average Net Rate 6.570909 6.735554 7.831194
Weighted Average Maturity 315 319 287
Beginning Loan Count 425 1,054 2,716
Loans Paid In Full 10 30 58
Ending Loan Count 415 1,024 2,658
Beginning Scheduled Balance 61,561,607.64 143,561,557.76 242,480,362.03
Ending scheduled Balance 59,714,001.32 139,142,200.39 235,304,990.10
Record Date 09/30/2003 09/30/2003 09/30/2003
Principal And Interest Constant 443,639.39 1,042,187.58 2,053,711.47
Scheduled Principal 86,438.54 181,794.45 378,324.23
Unscheduled Principal 1,761,167.78 4,237,562.92 6,797,047.70
Scheduled Interest 357,200.85 860,393.13 1,675,387.24
Servicing Fees 20,104.41 54,587.63 92,961.57
Master Servicing Fees 513.01 1,196.35 2,020.64
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 336,583.43 804,609.15 1,580,405.03
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 6.560909 6.725554 7.821194
Group Level Collateral Statement
Group Group 4 Total
Collateral Description Mixed ARM Fixed & Mixed ARM
Weighted Average Coupon Rate 9.172699 7.803663
Weighted Average Net Rate 8.672699 7.352490
Weighted Average Maturity 262 300
Beginning Loan Count 317 4,512
Loans Paid In Full 2 100
Ending Loan Count 315 4,412
Beginning Scheduled Balance 15,609,255.04 463,212,782.47
Ending scheduled Balance 15,487,310.24 449,648,502.05
Record Date 09/30/2003 09/30/2003
Principal And Interest Constant 144,300.59 3,683,839.03
Scheduled Principal 24,984.76 671,541.98
Unscheduled Principal 96,960.04 12,892,738.44
Scheduled Interest 119,315.83 3,012,297.05
Servicing Fees 6,503.85 174,157.46
Master Servicing Fees 130.09 3,860.09
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 0.00 0.00
Pool Insurance Fee 0.00 0.00
Spread Fee 1 0.00 0.00
Spread Fee 2 0.00 0.00
Spread Fee 3 0.00 0.00
Net Interest 112,681.89 2,834,279.50
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 8.662699 7.342490