UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 25, 2004 BANC OF AMERICA MORTGAGE SECURITIES, INC. Mortgage Pass-Through Certificates, Series 2003-J Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-105940-14 54-2132818 Pooling and Servicing Agreement) (Commission 54-2132819 (State or other File Number) 54-2132820 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On February 25, 2004 a distribution was made to holders of BANC OF AMERICA MORTGAGE SECURITIES, INC., Mortgage Pass-Through Certificates, Series 2003-J Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-J Trust, relating to the February 25, 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. BANC OF AMERICA MORTGAGE SECURITIES, INC. Mortgage Pass-Through Certificates, Series 2003-J Trust By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 3/10/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-J Trust, relating to the February 25, 2004 distribution. EX-99.1 Banc of America Mortgage Securities, Inc. Mortgage Pass-Through Certificates Record Date: 1/31/04 Distribution Date: 2/25/04 BAM Series: 2003-J Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution <s> <c> <c> <c> <c> <c> <c> 1-A-1 05948XXW6 SEN 3.44224% 201,781,544.34 578,816.19 4,879,523.03 1-A-2 05948XXX4 SEN 3.95824% 64,203,133.33 211,775.89 1,552,573.45 1-A-3 05948XXY2 SEN 3.95824% 1,816,033.90 5,990.24 43,915.71 1-A-R 05948XXZ9 SEN 3.56867% 0.00 0.00 0.00 1-A-MR 05948XYA3 SEN 3.56867% 0.00 0.00 0.00 1-A-LR 05948XYB1 SEN 3.56867% 0.00 0.80 0.00 2-A-1 05948XYC9 SEN 4.21540% 235,620,884.86 827,696.54 2,743,279.73 2-A-2 05948XYD7 SEN 4.52940% 206,168,274.25 778,181.83 2,400,369.76 2-A-3 05948XYE5 SEN 1.65600% 15,508,010.45 21,401.05 934,651.08 2-A-4 05948XYF2 SEN 2.70700% 21,440,000.00 48,365.07 0.00 2-A-5 05948XYG0 SEN 3.60600% 35,360,000.00 106,256.80 0.00 2-A-6 05948XYH8 SEN 4.05500% 26,971,000.00 91,139.51 0.00 2-A-7 05948XYJ4 SEN 4.31840% 27,165,000.00 97,757.74 0.00 2-A-8 05948XYK1 SEN 4.31840% 70,403,000.00 253,356.82 0.00 2-A-9 05948XYL9 SEN 3.41400% 27,910,769.86 79,406.14 1,682,152.02 2-A-IO 05948XYM7 IO 1.04862% 0.00 111,144.86 0.00 3-A-1 05948XYN5 SEN 4.13277% 48,500,857.36 167,035.55 207,753.37 3-A-2 05948XYP0 SEN 4.73177% 29,460,390.78 116,166.38 126,193.55 4-A-1 05948XYQ8 SEN 4.66852% 210,100,588.74 817,382.19 1,045,636.03 B-1 05948XYR6 SUB 4.22570% 16,098,977.07 56,691.19 17,994.25 B-2 05948XYS4 SUB 4.22570% 7,727,548.86 27,211.91 8,637.29 B-3 05948XYT2 SUB 4.22570% 5,151,034.76 18,138.93 5,757.45 B-4 05948XYY1 SUB 4.22570% 1,931,638.04 6,802.10 2,159.04 B-5 05948XYZ8 SUB 4.22570% 1,931,638.04 6,802.10 2,159.04 B-6 05948XZA2 SUB 4.22570% 2,576,135.35 9,071.64 2,879.41 1-IO 05948XYV7 IO 0.30479% 0.00 70,060.56 0.00 2-IO 05948XYW5 IO 0.00115% 0.00 654.26 0.00 3-IO 05948XYX3 IO 0.01565% 0.00 1,046.13 0.00 SES 05948XYU9 SEN 0.00000% 0.00 247,872.94 0.00 Totals 1,257,826,459.99 4,756,225.36 15,655,634.21 Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses <s> <c> <c> <c> <c> 1-A-1 0.00 196,902,021.31 5,458,339.22 0.00 1-A-2 0.00 62,650,559.89 1,764,349.34 0.00 1-A-3 0.00 1,772,118.19 49,905.95 0.00 1-A-R 0.00 0.00 0.00 0.00 1-A-MR 0.00 0.00 0.00 0.00 1-A-LR 0.00 0.00 0.80 0.00 2-A-1 0.00 232,877,605.13 3,570,976.27 0.00 2-A-2 0.00 203,767,904.49 3,178,551.59 0.00 2-A-3 0.00 14,573,359.37 956,052.13 0.00 2-A-4 0.00 21,440,000.00 48,365.07 0.00 2-A-5 0.00 35,360,000.00 106,256.80 0.00 2-A-6 0.00 26,971,000.00 91,139.51 0.00 2-A-7 0.00 27,165,000.00 97,757.74 0.00 2-A-8 0.00 70,403,000.00 253,356.82 0.00 2-A-9 0.00 26,228,617.84 1,761,558.16 0.00 2-A-IO 0.00 0.00 111,144.86 0.00 3-A-1 0.00 48,293,103.99 374,788.92 0.00 3-A-2 0.00 29,334,197.23 242,359.93 0.00 4-A-1 0.00 209,054,952.71 1,863,018.22 0.00 B-1 0.00 16,080,982.81 74,685.44 0.00 B-2 0.00 7,718,911.57 35,849.20 0.00 B-3 0.00 5,145,277.31 23,896.38 0.00 B-4 0.00 1,929,478.99 8,961.14 0.00 B-5 0.00 1,929,478.99 8,961.14 0.00 B-6 0.00 2,573,255.93 11,951.05 0.00 1-IO 0.00 0.00 70,060.56 0.00 2-IO 0.00 0.00 654.26 0.00 3-IO 0.00 0.00 1,046.13 0.00 SES 0.00 0.00 247,872.94 0.00 Totals 0.00 1,242,170,825.75 20,411,859.57 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> 1-A-1 215,000,000.00 201,781,544.34 298,183.46 4,581,339.58 0.00 0.00 1-A-2 68,409,000.00 64,203,133.33 94,876.43 1,457,697.02 0.00 0.00 1-A-3 1,935,000.00 1,816,033.90 2,683.65 41,232.06 0.00 0.00 1-A-R 50.00 0.00 0.00 0.00 0.00 0.00 1-A-MR 25.00 0.00 0.00 0.00 0.00 0.00 1-A-LR 25.00 0.00 0.00 0.00 0.00 0.00 2-A-1 240,000,000.00 235,620,884.86 243,240.82 2,500,038.90 0.00 0.00 2-A-2 210,000,000.00 206,168,274.25 212,835.72 2,187,534.04 0.00 0.00 2-A-3 17,000,000.00 15,508,010.45 82,873.54 851,777.54 0.00 0.00 2-A-4 21,440,000.00 21,440,000.00 0.00 0.00 0.00 0.00 2-A-5 35,360,000.00 35,360,000.00 0.00 0.00 0.00 0.00 2-A-6 26,971,000.00 26,971,000.00 0.00 0.00 0.00 0.00 2-A-7 27,165,000.00 27,165,000.00 0.00 0.00 0.00 0.00 2-A-8 70,403,000.00 70,403,000.00 0.00 0.00 0.00 0.00 2-A-9 30,596,000.00 27,910,769.86 149,152.87 1,532,999.15 0.00 0.00 2-A-IO 0.00 0.00 0.00 0.00 0.00 0.00 3-A-1 50,000,000.00 48,500,857.36 364.60 207,388.77 0.00 0.00 3-A-2 30,371,000.00 29,460,390.78 221.47 125,972.08 0.00 0.00 4-A-1 211,868,000.00 210,100,588.74 279,390.95 766,245.08 0.00 0.00 B-1 16,152,000.00 16,098,977.07 17,994.25 0.00 0.00 0.00 B-2 7,753,000.00 7,727,548.86 8,637.29 0.00 0.00 0.00 B-3 5,168,000.00 5,151,034.76 5,757.45 0.00 0.00 0.00 B-4 1,938,000.00 1,931,638.04 2,159.04 0.00 0.00 0.00 B-5 1,938,000.00 1,931,638.04 2,159.04 0.00 0.00 0.00 B-6 2,584,620.00 2,576,135.35 2,879.41 0.00 0.00 0.00 1-IO 0.00 0.00 0.00 0.00 0.00 0.00 2-IO 0.00 0.00 0.00 0.00 0.00 0.00 3-IO 0.00 0.00 0.00 0.00 0.00 0.00 SES 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,292,051,720.00 1,257,826,459.99 1,403,409.99 14,252,224.22 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> 1-A-1 4,879,523.03 196,902,021.31 0.91582335 4,879,523.03 1-A-2 1,552,573.45 62,650,559.89 0.91582335 1,552,573.45 1-A-3 43,915.71 1,772,118.19 0.91582335 43,915.71 1-A-R 0.00 0.00 0.00000000 0.00 1-A-MR 0.00 0.00 0.00000000 0.00 1-A-LR 0.00 0.00 0.00000000 0.00 2-A-1 2,743,279.73 232,877,605.13 0.97032335 2,743,279.73 2-A-2 2,400,369.76 203,767,904.49 0.97032335 2,400,369.76 2-A-3 934,651.08 14,573,359.37 0.85725643 934,651.08 2-A-4 0.00 21,440,000.00 1.00000000 0.00 2-A-5 0.00 35,360,000.00 1.00000000 0.00 2-A-6 0.00 26,971,000.00 1.00000000 0.00 2-A-7 0.00 27,165,000.00 1.00000000 0.00 2-A-8 0.00 70,403,000.00 1.00000000 0.00 2-A-9 1,682,152.02 26,228,617.84 0.85725643 1,682,152.02 2-A-IO 0.00 0.00 0.00000000 0.00 3-A-1 207,753.37 48,293,103.99 0.96586208 207,753.37 3-A-2 126,193.55 29,334,197.23 0.96586208 126,193.55 4-A-1 1,045,636.03 209,054,952.71 0.98672264 1,045,636.03 B-1 17,994.25 16,080,982.81 0.99560320 17,994.25 B-2 8,637.29 7,718,911.57 0.99560319 8,637.29 B-3 5,757.45 5,145,277.31 0.99560319 5,757.45 B-4 2,159.04 1,929,478.99 0.99560319 2,159.04 B-5 2,159.04 1,929,478.99 0.99560319 2,159.04 B-6 2,879.41 2,573,255.93 0.99560320 2,879.41 1-IO 0.00 0.00 0.00000000 0.00 2-IO 0.00 0.00 0.00000000 0.00 3-IO 0.00 0.00 0.00000000 0.00 SES 0.00 0.00 0.00000000 0.00 Totals 15,655,634.21 1,242,170,825.75 0.96139404 15,655,634.21 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> 1-A-1 215,000,000.00 938.51881088 1.38689981 21.30855619 0.00000000 1-A-2 68,409,000.00 938.51881083 1.38689982 21.30855618 0.00000000 1-A-3 1,935,000.00 938.51881137 1.38689922 21.30855814 0.00000000 1-A-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000 1-A-MR 25.00 0.00000000 0.00000000 0.00000000 0.00000000 1-A-LR 25.00 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 240,000,000.00 981.75368692 1.01350342 10.41682875 0.00000000 2-A-2 210,000,000.00 981.75368690 1.01350343 10.41682876 0.00000000 2-A-3 17,000,000.00 912.23590882 4.87491412 50.10456118 0.00000000 2-A-4 21,440,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 2-A-5 35,360,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 2-A-6 26,971,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 2-A-7 27,165,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 2-A-8 70,403,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 2-A-9 30,596,000.00 912.23590862 4.87491404 50.10456105 0.00000000 2-A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 3-A-1 50,000,000.00 970.01714720 0.00729200 4.14777540 0.00000000 3-A-2 30,371,000.00 970.01714728 0.00729215 4.14777518 0.00000000 4-A-1 211,868,000.00 991.65796033 1.31870292 3.61661544 0.00000000 B-1 16,152,000.00 996.71725297 1.11405708 0.00000000 0.00000000 B-2 7,753,000.00 996.71725268 1.11405778 0.00000000 0.00000000 B-3 5,168,000.00 996.71725232 1.11405766 0.00000000 0.00000000 B-4 1,938,000.00 996.71725490 1.11405573 0.00000000 0.00000000 B-5 1,938,000.00 996.71725490 1.11405573 0.00000000 0.00000000 B-6 2,584,620.00 996.71725437 1.11405545 0.00000000 0.00000000 1-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 2-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 3-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 SES 0.00 0.00000000 0.00000000 0.00000000 0.00000000 <FN> (2) All Classes are per $1,000 denomination. </FN> Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution <s> <c> <c> <c> <c> <c> 1-A-1 0.00000000 22.69545595 915.82335493 0.91582335 22.69545595 1-A-2 0.00000000 22.69545601 915.82335497 0.91582335 22.69545601 1-A-3 0.00000000 22.69545736 915.82335401 0.91582335 22.69545736 1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1-A-MR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1-A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 0.00000000 11.43033221 970.32335471 0.97032335 11.43033221 2-A-2 0.00000000 11.43033219 970.32335471 0.97032335 11.43033219 2-A-3 0.00000000 54.97947529 857.25643353 0.85725643 54.97947529 2-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 2-A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 2-A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 2-A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 2-A-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 2-A-9 0.00000000 54.97947509 857.25643352 0.85725643 54.97947509 2-A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3-A-1 0.00000000 4.15506740 965.86207980 0.96586208 4.15506740 3-A-2 0.00000000 4.15506733 965.86207994 0.96586208 4.15506733 4-A-1 0.00000000 4.93531836 986.72264198 0.98672264 4.93531836 B-1 0.00000000 1.11405708 995.60319527 0.99560320 1.11405708 B-2 0.00000000 1.11405778 995.60319489 0.99560319 1.11405778 B-3 0.00000000 1.11405766 995.60319466 0.99560319 1.11405766 B-4 0.00000000 1.11405573 995.60319401 0.99560319 1.11405573 B-5 0.00000000 1.11405573 995.60319401 0.99560319 1.11405573 B-6 0.00000000 1.11405545 995.60319505 0.99560320 1.11405545 1-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 SES 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 <FN> (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. </FN> Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall <s> <c> <c> <c> <c> <c> <c> 1-A-1 215,000,000.00 3.44224% 201,781,544.34 578,816.18 0.00 0.00 1-A-2 68,409,000.00 3.95824% 64,203,133.33 211,775.89 0.00 0.00 1-A-3 1,935,000.00 3.95824% 1,816,033.90 5,990.24 0.00 0.00 1-A-R 50.00 3.56867% 0.00 0.00 0.00 0.00 1-A-MR 25.00 3.56867% 0.00 0.00 0.00 0.00 1-A-LR 25.00 3.56867% 0.00 0.00 0.00 0.00 2-A-1 240,000,000.00 4.21540% 235,620,884.86 827,696.52 0.00 0.00 2-A-2 210,000,000.00 4.52940% 206,168,274.25 778,181.82 0.00 0.00 2-A-3 17,000,000.00 1.65600% 15,508,010.45 21,401.05 0.00 0.00 2-A-4 21,440,000.00 2.70700% 21,440,000.00 48,365.07 0.00 0.00 2-A-5 35,360,000.00 3.60600% 35,360,000.00 106,256.80 0.00 0.00 2-A-6 26,971,000.00 4.05500% 26,971,000.00 91,139.50 0.00 0.00 2-A-7 27,165,000.00 4.31840% 27,165,000.00 97,757.74 0.00 0.00 2-A-8 70,403,000.00 4.31840% 70,403,000.00 253,356.82 0.00 0.00 2-A-9 30,596,000.00 3.41400% 27,910,769.86 79,406.14 0.00 0.00 2-A-IO 0.00 1.04862% 127,189,780.31 111,144.86 0.00 0.00 3-A-1 50,000,000.00 4.13277% 48,500,857.36 167,035.55 0.00 0.00 3-A-2 30,371,000.00 4.73177% 29,460,390.78 116,166.38 0.00 0.00 4-A-1 211,868,000.00 4.66852% 210,100,588.74 817,382.18 0.00 0.00 B-1 16,152,000.00 4.22570% 16,098,977.07 56,691.19 0.00 0.00 B-2 7,753,000.00 4.22570% 7,727,548.86 27,211.91 0.00 0.00 B-3 5,168,000.00 4.22570% 5,151,034.76 18,138.93 0.00 0.00 B-4 1,938,000.00 4.22570% 1,931,638.04 6,802.10 0.00 0.00 B-5 1,938,000.00 4.22570% 1,931,638.04 6,802.10 0.00 0.00 B-6 2,584,620.00 4.22570% 2,576,135.35 9,071.64 0.00 0.00 1-IO 0.00 0.30479% 275,835,324.98 70,060.56 0.00 0.00 2-IO 0.00 0.00115% 685,687,804.04 654.26 0.00 0.00 3-IO 0.00 0.01565% 80,234,652.51 1,046.13 0.00 0.00 SES 0.00 0.00000% 1,257,826,460.70 0.00 0.00 0.00 Totals 1,292,051,720.00 4,508,351.56 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> 1-A-1 (0.01) 0.00 578,816.19 0.00 196,902,021.31 1-A-2 0.00 0.00 211,775.89 0.00 62,650,559.89 1-A-3 0.00 0.00 5,990.24 0.00 1,772,118.19 1-A-R 0.00 0.00 0.00 0.00 0.00 1-A-MR 0.00 0.00 0.00 0.00 0.00 1-A-LR 0.00 0.00 0.80 0.00 0.00 2-A-1 (0.01) 0.00 827,696.54 0.00 232,877,605.13 2-A-2 (0.01) 0.00 778,181.83 0.00 203,767,904.49 2-A-3 0.00 0.00 21,401.05 0.00 14,573,359.37 2-A-4 0.00 0.00 48,365.07 0.00 21,440,000.00 2-A-5 0.00 0.00 106,256.80 0.00 35,360,000.00 2-A-6 0.00 0.00 91,139.51 0.00 26,971,000.00 2-A-7 0.00 0.00 97,757.74 0.00 27,165,000.00 2-A-8 0.00 0.00 253,356.82 0.00 70,403,000.00 2-A-9 0.00 0.00 79,406.14 0.00 26,228,617.84 2-A-IO 0.00 0.00 111,144.86 0.00 124,572,977.21 3-A-1 0.00 0.00 167,035.55 0.00 48,293,103.99 3-A-2 0.00 0.00 116,166.38 0.00 29,334,197.23 4-A-1 (0.01) 0.00 817,382.19 0.00 209,054,952.71 B-1 0.00 0.00 56,691.19 0.00 16,080,982.81 B-2 0.00 0.00 27,211.91 0.00 7,718,911.57 B-3 0.00 0.00 18,138.93 0.00 5,145,277.31 B-4 0.00 0.00 6,802.10 0.00 1,929,478.99 B-5 0.00 0.00 6,802.10 0.00 1,929,478.99 B-6 0.00 0.00 9,071.64 0.00 2,573,255.93 1-IO 0.00 0.00 70,060.56 0.00 269,347,439.61 2-IO 0.00 0.00 654.26 0.00 677,907,591.57 3-IO 0.00 0.00 1,046.13 0.00 79,900,688.50 SES 0.00 0.00 247,872.94 0.00 1,242,170,826.48 Totals (0.04) 0.00 4,756,225.36 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> 1-A-1 215,000,000.00 3.44224% 938.51881088 2.69216828 0.00000000 0.00000000 1-A-2 68,409,000.00 3.95824% 938.51881083 3.09573141 0.00000000 0.00000000 1-A-3 1,935,000.00 3.95824% 938.51881137 3.09573127 0.00000000 0.00000000 1-A-R 50.00 3.56867% 0.00000000 0.00000000 0.00000000 0.00000000 1-A-MR 25.00 3.56867% 0.00000000 0.00000000 0.00000000 0.00000000 1-A-LR 25.00 3.56867% 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 240,000,000.00 4.21540% 981.75368692 3.44873550 0.00000000 0.00000000 2-A-2 210,000,000.00 4.52940% 981.75368690 3.70562771 0.00000000 0.00000000 2-A-3 17,000,000.00 1.65600% 912.23590882 1.25888529 0.00000000 0.00000000 2-A-4 21,440,000.00 2.70700% 1000.00000000 2.25583349 0.00000000 0.00000000 2-A-5 35,360,000.00 3.60600% 1000.00000000 3.00500000 0.00000000 0.00000000 2-A-6 26,971,000.00 4.05500% 1000.00000000 3.37916651 0.00000000 0.00000000 2-A-7 27,165,000.00 4.31840% 1000.00000000 3.59866519 0.00000000 0.00000000 2-A-8 70,403,000.00 4.31840% 1000.00000000 3.59866511 0.00000000 0.00000000 2-A-9 30,596,000.00 3.41400% 912.23590862 2.59531115 0.00000000 0.00000000 2-A-IO 0.00 1.04862% 968.20190999 0.84606378 0.00000000 0.00000000 3-A-1 50,000,000.00 4.13277% 970.01714720 3.34071100 0.00000000 0.00000000 3-A-2 30,371,000.00 4.73177% 970.01714728 3.82491126 0.00000000 0.00000000 4-A-1 211,868,000.00 4.66852% 991.65796033 3.85797846 0.00000000 0.00000000 B-1 16,152,000.00 4.22570% 996.71725297 3.50985575 0.00000000 0.00000000 B-2 7,753,000.00 4.22570% 996.71725268 3.50985554 0.00000000 0.00000000 B-3 5,168,000.00 4.22570% 996.71725232 3.50985488 0.00000000 0.00000000 B-4 1,938,000.00 4.22570% 996.71725490 3.50985552 0.00000000 0.00000000 B-5 1,938,000.00 4.22570% 996.71725490 3.50985552 0.00000000 0.00000000 B-6 2,584,620.00 4.22570% 996.71725437 3.50985445 0.00000000 0.00000000 1-IO 0.00 0.30479% 940.09108637 0.23877764 0.00000000 0.00000000 2-IO 0.00 0.00115% 982.17181404 0.00093715 0.00000000 0.00000000 3-IO 0.00 0.01565% 970.84176803 0.01265821 0.00000000 0.00000000 SES 0.00 0.00000% 973.51092106 0.00000000 0.00000000 0.00000000 <FN> (5) All Classes are per $1,000 denomination. </FN> Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance <s> <c> <c> <c> <c> <c> 1-A-1 (0.00000005) 0.00000000 2.69216833 0.00000000 915.82335493 1-A-2 0.00000000 0.00000000 3.09573141 0.00000000 915.82335497 1-A-3 0.00000000 0.00000000 3.09573127 0.00000000 915.82335401 1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1-A-MR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1-A-LR 0.00000000 0.00000000 32.00000000 0.00000000 0.00000000 2-A-1 (0.00000004) 0.00000000 3.44873558 0.00000000 970.32335471 2-A-2 (0.00000005) 0.00000000 3.70562776 0.00000000 970.32335471 2-A-3 0.00000000 0.00000000 1.25888529 0.00000000 857.25643353 2-A-4 0.00000000 0.00000000 2.25583349 0.00000000 1000.00000000 2-A-5 0.00000000 0.00000000 3.00500000 0.00000000 1000.00000000 2-A-6 0.00000000 0.00000000 3.37916688 0.00000000 1000.00000000 2-A-7 0.00000000 0.00000000 3.59866519 0.00000000 1000.00000000 2-A-8 0.00000000 0.00000000 3.59866511 0.00000000 1000.00000000 2-A-9 0.00000000 0.00000000 2.59531115 0.00000000 857.25643352 2-A-IO 0.00000000 0.00000000 0.84606378 0.00000000 948.28211963 3-A-1 0.00000000 0.00000000 3.34071100 0.00000000 965.86207980 3-A-2 0.00000000 0.00000000 3.82491126 0.00000000 965.86207994 4-A-1 (0.00000005) 0.00000000 3.85797851 0.00000000 986.72264198 B-1 0.00000000 0.00000000 3.50985575 0.00000000 995.60319527 B-2 0.00000000 0.00000000 3.50985554 0.00000000 995.60319489 B-3 0.00000000 0.00000000 3.50985488 0.00000000 995.60319466 B-4 0.00000000 0.00000000 3.50985552 0.00000000 995.60319401 B-5 0.00000000 0.00000000 3.50985552 0.00000000 995.60319401 B-6 0.00000000 0.00000000 3.50985445 0.00000000 995.60319505 1-IO 0.00000000 0.00000000 0.23877764 0.00000000 917.97933108 2-IO 0.00000000 0.00000000 0.00093715 0.00000000 971.02752162 3-IO 0.00000000 0.00000000 0.01265821 0.00000000 966.80079321 SES 0.00000000 0.00000000 0.19184444 0.00000000 961.39404217 <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 Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage <s> <c> <c> <c> <c> <c> <c> 1-SES 0.00000% 275,835,324.98 269,347,439.61 0.00 0.00 91.79793311% 2-SES 0.00000% 685,687,804.04 677,907,591.57 0.00 0.00 97.10275216% 3-SES 0.00000% 80,234,652.51 79,900,688.50 0.00 0.00 96.68007932% 4-SES 0.00000% 216,068,679.17 215,015,106.80 0.00 0.00 98.69433292% CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT <s> <c> Beginning Balance 0.00 Deposits Payments of Interest and Principal 20,466,365.86 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 20,466,365.86 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 54,506.29 Payment of Interest and Principal 20,411,859.57 Total Withdrawals (Pool Distribution Amount) 20,466,365.86 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 52,409.89 Trustee Fee - Wells Fargo Bank, N.A. 2,096.40 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 54,506.29 LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> <c> <c> <c> <c> <c> No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 7 0 0 0 7 3,254,898.33 0.00 0.00 0.00 3,254,898.33 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 7 0 0 0 7 3,254,898.33 0.00 0.00 0.00 3,254,898.33 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.291181% 0.000000% 0.000000% 0.000000% 0.291181% 0.261783% 0.000000% 0.000000% 0.000000% 0.261783% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.291181% 0.000000% 0.000000% 0.000000% 0.291181% 0.261783% 0.000000% 0.000000% 0.000000% 0.261783% Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 3 0 0 0 3 1,217,149.61 0.00 0.00 0.00 1,217,149.61 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 3 0 0 0 3 1,217,149.61 0.00 0.00 0.00 1,217,149.61 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.573614% 0.000000% 0.000000% 0.000000% 0.573614% 0.451330% 0.000000% 0.000000% 0.000000% 0.451330% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.573614% 0.000000% 0.000000% 0.000000% 0.573614% 0.451330% 0.000000% 0.000000% 0.000000% 0.451330% DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 4 0 0 0 4 2,037,748.72 0.00 0.00 0.00 2,037,748.72 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 4 0 0 0 4 2,037,748.72 0.00 0.00 0.00 2,037,748.72 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.303260% 0.000000% 0.000000% 0.000000% 0.303260% 0.300331% 0.000000% 0.000000% 0.000000% 0.300331% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.303260% 0.000000% 0.000000% 0.000000% 0.303260% 0.300331% 0.000000% 0.000000% 0.000000% 0.300331% DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% OTHER INFORMATION <s> <c> Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 15,565.52 COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.580500% Weighted Average Net Coupon 4.303088% Weighted Average Pass-Through Rate 4.301088% Weighted Average Maturity(Stepdown Calculation ) 352 Beginning Scheduled Collateral Loan Count 2,427 Number Of Loans Paid In Full 23 Ending Scheduled Collateral Loan Count 2,404 Beginning Scheduled Collateral Balance 1,257,826,460.70 Ending Scheduled Collateral Balance 1,242,170,826.48 Ending Actual Collateral Balance at 31-Jan-2004 1,243,358,139.57 Monthly P &I Constant 6,204,638.77 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 1,242,170,826.48 Scheduled Principal 1,403,410.00 Unscheduled Principal 14,252,224.22 Miscellaneous Reporting Total Senior % 97.184272% Aggregate Subordinate % 2.815728% Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.251235 4.600398 4.626765 Weighted Average Net Rate 4.001235 4.350398 4.376765 Weighted Average Maturity 352 353 352 Beginning Loan Count 532 1,331 145 Loans Paid In Full 9 12 1 Ending Loan Count 523 1,319 144 Beginning Scheduled Balance 275,835,324.98 685,687,804.04 80,234,652.51 Ending scheduled Balance 269,347,439.61 677,907,591.57 79,900,688.50 Record Date 01/31/2004 01/31/2004 01/31/2004 Principal And Interest Constant 1,384,817.29 3,336,560.22 309,958.91 Scheduled Principal 407,616.72 707,862.83 603.16 Unscheduled Principal 6,080,268.65 7,072,349.64 333,360.85 Scheduled Interest 977,200.57 2,628,697.39 309,355.75 Servicing Fees 57,465.71 142,851.66 16,715.54 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 459.71 1,142.85 133.76 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 28,732.83 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 890,542.32 2,484,702.88 292,506.45 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 3.874235 4.348398 4.374765 Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.920519 4.580500 Weighted Average Net Rate 4.670519 4.303088 Weighted Average Maturity 350 352 Beginning Loan Count 419 2,427 Loans Paid In Full 1 23 Ending Loan Count 418 2,404 Beginning Scheduled Balance 216,068,679.17 1,257,826,460.70 Ending scheduled Balance 215,015,106.80 1,242,170,826.48 Record Date 01/31/2004 01/31/2004 Principal And Interest Constant 1,173,302.35 6,204,638.77 Scheduled Principal 287,327.29 1,403,410.00 Unscheduled Principal 766,245.08 14,252,224.22 Scheduled Interest 885,975.06 4,801,228.77 Servicing Fees 45,014.31 262,047.22 Master Servicing Fees 0.00 0.00 Trustee Fee 360.08 2,096.40 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 28,732.83 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 840,600.67 4,508,352.32 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 4.668519 4.301088 Miscellaneous Reporting Group Group 1 CPR 23.499781% Senior % 97.087170% Senior Prepayment % 100.000000% Subordinate % 2.912830% Subordinate Prepayment % 0.000000% Group Group 2 CPR 11.709958% Senior % 97.208516% Senior Prepayment % 100.000000% Subordinate % 2.791484% Subordinate Prepayment % 0.000000% Group Group 3 CPR 4.873455% Senior % 97.166555% Senior Prepayment % 100.000000% Subordinate % 2.833445% Subordinate Prepayment % 0.000000% Miscellaneous Reporting Group Group 4 CPR 4.178983% Senior % 97.237873% Senior Prepayment % 100.000000% Subordinate % 2.762127% Subordinate Prepayment % 0.000000%