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): April 26, 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 April 26, 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 April 26, 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: 4/28/04 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 April 26, 2004 distribution. EX-99.1 Banc of America Mortgage Securities, Inc. Mortgage Pass-Through Certificates Record Date: 3/31/04 Distribution Date: 4/26/04 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 3.43220% 185,672,688.91 531,054.50 16,462,434.46 1-A-2 05948XXX4 SEN 3.94820% 59,077,595.24 194,375.03 5,238,040.37 1-A-3 05948XXY2 SEN 3.94820% 1,671,054.20 5,498.04 148,161.91 1-A-R 05948XXZ9 SEN 3.55130% 0.00 0.00 0.00 1-A-MR 05948XYA3 SEN 3.55130% 0.00 0.00 0.00 1-A-LR 05948XYB1 SEN 3.55130% 0.00 0.77 0.00 2-A-1 05948XYC9 SEN 4.20439% 228,428,846.64 800,335.78 6,199,943.42 2-A-2 05948XYD7 SEN 4.51839% 199,875,240.81 752,594.49 5,424,950.49 2-A-3 05948XYE5 SEN 1.65600% 13,057,641.93 18,019.55 2,112,356.15 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 91,139.50 0.00 2-A-7 05948XYJ4 SEN 4.30739% 27,165,000.00 97,508.44 0.00 2-A-8 05948XYK1 SEN 4.30739% 70,403,000.00 252,710.72 0.00 2-A-9 05948XYL9 SEN 3.41400% 23,500,683.09 66,859.44 3,801,744.04 2-A-IO 05948XYM7 IO 1.01003% 0.00 101,280.30 0.00 3-A-1 05948XYN5 SEN 4.12757% 48,225,050.68 165,876.87 66,810.82 3-A-2 05948XYP0 SEN 4.72657% 29,292,860.28 115,378.95 40,582.23 4-A-1 05948XYQ8 SEN 4.66700% 207,131,964.07 805,571.14 4,154,630.79 B-1 05948XYR6 SUB 4.21699% 16,062,815.74 56,447.25 18,270.00 B-2 05948XYS4 SUB 4.21699% 7,710,191.33 27,094.82 8,769.65 B-3 05948XYT2 SUB 4.21699% 5,139,464.57 18,060.88 5,845.68 B-4 05948XYY1 SUB 4.21699% 1,927,299.21 6,772.83 2,192.13 B-5 05948XYZ8 SUB 4.21699% 1,927,299.21 6,772.83 2,192.13 B-6 05948XZA2 SUB 4.21699% 2,570,348.86 9,032.61 2,923.54 1-IO 05948XYV7 IO 0.30479% 0.00 64,624.26 0.00 2-IO 05948XYW5 IO 0.00115% 0.00 634.81 0.00 3-IO 05948XYX3 IO 0.01565% 0.00 1,040.35 0.00 SES 05948XYU9 SEN 0.00000% 0.00 241,594.26 0.00 Totals 1,212,610,044.77 4,584,900.29 43,689,847.81 Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses <s> <c> <c> <c> <c> 1-A-1 0.00 169,210,254.45 16,993,488.96 0.00 1-A-2 0.00 53,839,554.87 5,432,415.40 0.00 1-A-3 0.00 1,522,892.29 153,659.95 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 0.77 0.00 2-A-1 0.00 222,228,903.22 7,000,279.20 0.00 2-A-2 0.00 194,450,290.32 6,177,544.98 0.00 2-A-3 0.00 10,945,285.78 2,130,375.70 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 91,139.50 0.00 2-A-7 0.00 27,165,000.00 97,508.44 0.00 2-A-8 0.00 70,403,000.00 252,710.72 0.00 2-A-9 0.00 19,698,939.05 3,868,603.48 0.00 2-A-IO 0.00 0.00 101,280.30 0.00 3-A-1 0.00 48,158,239.86 232,687.69 0.00 3-A-2 0.00 29,252,278.05 155,961.18 0.00 4-A-1 0.00 202,977,333.28 4,960,201.93 0.00 B-1 0.00 16,044,545.74 74,717.25 0.00 B-2 0.00 7,701,421.69 35,864.47 0.00 B-3 0.00 5,133,618.89 23,906.56 0.00 B-4 0.00 1,925,107.09 8,964.96 0.00 B-5 0.00 1,925,107.09 8,964.96 0.00 B-6 0.00 2,567,425.32 11,956.15 0.00 1-IO 0.00 0.00 64,624.26 0.00 2-IO 0.00 0.00 634.81 0.00 3-IO 0.00 0.00 1,040.35 0.00 SES 0.00 0.00 241,594.26 0.00 Totals 0.00 1,168,920,196.99 48,274,748.10 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-1 215,000,000.00 185,672,688.91 278,398.38 16,184,036.08 0.00 0.00 1-A-2 68,409,000.00 59,077,595.24 88,581.18 5,149,459.18 0.00 0.00 1-A-3 1,935,000.00 1,671,054.20 2,505.59 145,656.32 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-1 240,000,000.00 228,428,846.64 240,108.99 5,959,834.43 0.00 0.00 2-A-2 210,000,000.00 199,875,240.81 210,095.36 5,214,855.13 0.00 0.00 2-A-3 17,000,000.00 13,057,641.93 81,806.50 2,030,549.65 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 23,500,683.09 147,232.46 3,654,511.59 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 48,225,050.68 704.91 66,105.91 0.00 0.00 3-A-2 30,371,000.00 29,292,860.28 428.18 40,154.05 0.00 0.00 4-A-1 211,868,000.00 207,131,964.07 280,857.20 3,873,773.59 0.00 0.00 B-1 16,152,000.00 16,062,815.74 18,270.00 0.00 0.00 0.00 B-2 7,753,000.00 7,710,191.33 8,769.65 0.00 0.00 0.00 B-3 5,168,000.00 5,139,464.57 5,845.68 0.00 0.00 0.00 B-4 1,938,000.00 1,927,299.21 2,192.13 0.00 0.00 0.00 B-5 1,938,000.00 1,927,299.21 2,192.13 0.00 0.00 0.00 B-6 2,584,620.00 2,570,348.86 2,923.54 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 1,212,610,044.77 1,370,911.88 42,318,935.93 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 16,462,434.46 169,210,254.45 0.78702444 16,462,434.46 1-A-2 5,238,040.37 53,839,554.87 0.78702444 5,238,040.37 1-A-3 148,161.91 1,522,892.29 0.78702444 148,161.91 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 6,199,943.42 222,228,903.22 0.92595376 6,199,943.42 2-A-2 5,424,950.49 194,450,290.32 0.92595376 5,424,950.49 2-A-3 2,112,356.15 10,945,285.78 0.64384034 2,112,356.15 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 3,801,744.04 19,698,939.05 0.64384034 3,801,744.04 2-A-IO 0.00 0.00 0.00000000 0.00 3-A-1 66,810.82 48,158,239.86 0.96316480 66,810.82 3-A-2 40,582.23 29,252,278.05 0.96316480 40,582.23 4-A-1 4,154,630.79 202,977,333.28 0.95803676 4,154,630.79 B-1 18,270.00 16,044,545.74 0.99334731 18,270.00 B-2 8,769.65 7,701,421.69 0.99334731 8,769.65 B-3 5,845.68 5,133,618.89 0.99334731 5,845.68 B-4 2,192.13 1,925,107.09 0.99334731 2,192.13 B-5 2,192.13 1,925,107.09 0.99334731 2,192.13 B-6 2,923.54 2,567,425.32 0.99334731 2,923.54 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 43,689,847.81 1,168,920,196.99 0.90470078 43,689,847.81 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-1 215,000,000.00 863.59390191 1.29487619 75.27458642 0.00000000 1-A-2 68,409,000.00 863.59390197 1.29487611 75.27458638 0.00000000 1-A-3 1,935,000.00 863.59390181 1.29487855 75.27458398 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-1 240,000,000.00 951.78686100 1.00045412 24.83264346 0.00000000 2-A-2 210,000,000.00 951.78686100 1.00045410 24.83264348 0.00000000 2-A-3 17,000,000.00 768.09658412 4.81214706 119.44409706 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 30,596,000.00 768.09658419 4.81214734 119.44409694 0.00000000 2-A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 3-A-1 50,000,000.00 964.50101360 0.01409820 1.32211820 0.00000000 3-A-2 30,371,000.00 964.50101347 0.01409832 1.32211814 0.00000000 4-A-1 211,868,000.00 977.64628953 1.32562350 18.28390125 0.00000000 B-1 16,152,000.00 994.47843858 1.13112927 0.00000000 0.00000000 B-2 7,753,000.00 994.47843802 1.13112989 0.00000000 0.00000000 B-3 5,168,000.00 994.47843847 1.13113003 0.00000000 0.00000000 B-4 1,938,000.00 994.47843653 1.13113003 0.00000000 0.00000000 B-5 1,938,000.00 994.47843653 1.13113003 0.00000000 0.00000000 B-6 2,584,620.00 994.47843784 1.13112953 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 76.56946260 787.02443930 0.78702444 76.56946260 1-A-2 0.00000000 76.56946264 787.02443933 0.78702444 76.56946264 1-A-3 0.00000000 76.56946253 787.02443928 0.78702444 76.56946253 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 25.83309758 925.95376342 0.92595376 25.83309758 2-A-2 0.00000000 25.83309757 925.95376343 0.92595376 25.83309757 2-A-3 0.00000000 124.25624412 643.84034000 0.64384034 124.25624412 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 124.25624395 643.84034024 0.64384034 124.25624395 2-A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3-A-1 0.00000000 1.33621640 963.16479720 0.96316480 1.33621640 3-A-2 0.00000000 1.33621646 963.16479701 0.96316480 1.33621646 4-A-1 0.00000000 19.60952475 958.03676478 0.95803676 19.60952475 B-1 0.00000000 1.13112927 993.34730931 0.99334731 1.13112927 B-2 0.00000000 1.13112989 993.34730943 0.99334731 1.13112989 B-3 0.00000000 1.13113003 993.34730844 0.99334731 1.13113003 B-4 0.00000000 1.13113003 993.34731166 0.99334731 1.13113003 B-5 0.00000000 1.13113003 993.34731166 0.99334731 1.13113003 B-6 0.00000000 1.13112953 993.34730831 0.99334731 1.13112953 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 3.43220% 185,672,688.91 531,054.51 0.00 0.00 1-A-2 68,409,000.00 3.94820% 59,077,595.24 194,375.03 0.00 0.00 1-A-3 1,935,000.00 3.94820% 1,671,054.20 5,498.04 0.00 0.00 1-A-R 50.00 3.55130% 0.00 0.00 0.00 0.00 1-A-MR 25.00 3.55130% 0.00 0.00 0.00 0.00 1-A-LR 25.00 3.55130% 0.00 0.00 0.00 0.00 2-A-1 240,000,000.00 4.20439% 228,428,846.64 800,335.79 0.00 0.00 2-A-2 210,000,000.00 4.51839% 199,875,240.81 752,594.50 0.00 0.00 2-A-3 17,000,000.00 1.65600% 13,057,641.93 18,019.55 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 4.30739% 27,165,000.00 97,508.44 0.00 0.00 2-A-8 70,403,000.00 4.30739% 70,403,000.00 252,710.72 0.00 0.00 2-A-9 30,596,000.00 3.41400% 23,500,683.09 66,859.44 0.00 0.00 2-A-IO 0.00 1.01003% 120,329,325.02 101,280.30 0.00 0.00 3-A-1 50,000,000.00 4.12757% 48,225,050.68 165,876.88 0.00 0.00 3-A-2 30,371,000.00 4.72657% 29,292,860.28 115,378.95 0.00 0.00 4-A-1 211,868,000.00 4.66700% 207,131,964.07 805,571.15 0.00 0.00 B-1 16,152,000.00 4.21699% 16,062,815.74 56,447.25 0.00 0.00 B-2 7,753,000.00 4.21699% 7,710,191.33 27,094.82 0.00 0.00 B-3 5,168,000.00 4.21699% 5,139,464.57 18,060.88 0.00 0.00 B-4 1,938,000.00 4.21699% 1,927,299.21 6,772.83 0.00 0.00 B-5 1,938,000.00 4.21699% 1,927,299.21 6,772.83 0.00 0.00 B-6 2,584,620.00 4.21699% 2,570,348.86 9,032.61 0.00 0.00 1-IO 0.00 0.30479% 254,432,057.37 64,624.26 0.00 0.00 2-IO 0.00 0.00115% 665,302,607.62 634.81 0.00 0.00 3-IO 0.00 0.01565% 79,791,279.38 1,040.35 0.00 0.00 SES 0.00 0.00000% 1,212,610,045.52 0.00 0.00 0.00 Totals 1,292,051,720.00 4,343,305.31 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 0.00 531,054.50 0.00 169,210,254.45 1-A-2 0.00 0.00 194,375.03 0.00 53,839,554.87 1-A-3 0.00 0.00 5,498.04 0.00 1,522,892.29 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 0.77 0.00 0.00 2-A-1 0.01 0.00 800,335.78 0.00 222,228,903.22 2-A-2 0.01 0.00 752,594.49 0.00 194,450,290.32 2-A-3 0.00 0.00 18,019.55 0.00 10,945,285.78 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 91,139.50 0.00 26,971,000.00 2-A-7 0.00 0.00 97,508.44 0.00 27,165,000.00 2-A-8 0.00 0.00 252,710.72 0.00 70,403,000.00 2-A-9 0.00 0.00 66,859.44 0.00 19,698,939.05 2-A-IO 0.00 0.00 101,280.30 0.00 114,415,224.83 3-A-1 0.00 0.00 165,876.87 0.00 48,158,239.86 3-A-2 0.00 0.00 115,378.95 0.00 29,252,278.05 4-A-1 0.01 0.00 805,571.14 0.00 202,977,333.28 B-1 0.00 0.00 56,447.25 0.00 16,044,545.74 B-2 0.00 0.00 27,094.82 0.00 7,701,421.69 B-3 0.00 0.00 18,060.88 0.00 5,133,618.89 B-4 0.00 0.00 6,772.83 0.00 1,925,107.09 B-5 0.00 0.00 6,772.83 0.00 1,925,107.09 B-6 0.00 0.00 9,032.61 0.00 2,567,425.32 1-IO 0.00 0.00 64,624.26 0.00 232,571,409.33 2-IO 0.00 0.00 634.81 0.00 647,743,535.63 3-IO 0.00 0.00 1,040.35 0.00 79,683,853.10 SES 0.00 0.00 241,594.26 0.00 1,168,920,197.72 Totals 0.04 0.00 4,584,900.29 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 3.43220% 863.59390191 2.47002098 0.00000000 0.00000000 1-A-2 68,409,000.00 3.94820% 863.59390197 2.84136634 0.00000000 0.00000000 1-A-3 1,935,000.00 3.94820% 863.59390181 2.84136434 0.00000000 0.00000000 1-A-R 50.00 3.55130% 0.00000000 0.00000000 0.00000000 0.00000000 1-A-MR 25.00 3.55130% 0.00000000 0.00000000 0.00000000 0.00000000 1-A-LR 25.00 3.55130% 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 240,000,000.00 4.20439% 951.78686100 3.33473246 0.00000000 0.00000000 2-A-2 210,000,000.00 4.51839% 951.78686100 3.58378333 0.00000000 0.00000000 2-A-3 17,000,000.00 1.65600% 768.09658412 1.05997353 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 4.30739% 1000.00000000 3.58948794 0.00000000 0.00000000 2-A-8 70,403,000.00 4.30739% 1000.00000000 3.58948795 0.00000000 0.00000000 2-A-9 30,596,000.00 3.41400% 768.09658419 2.18523467 0.00000000 0.00000000 2-A-IO 0.00 1.01003% 915.97832804 0.77097216 0.00000000 0.00000000 3-A-1 50,000,000.00 4.12757% 964.50101360 3.31753760 0.00000000 0.00000000 3-A-2 30,371,000.00 4.72657% 964.50101347 3.79898423 0.00000000 0.00000000 4-A-1 211,868,000.00 4.66700% 977.64628953 3.80223134 0.00000000 0.00000000 B-1 16,152,000.00 4.21699% 994.47843858 3.49475297 0.00000000 0.00000000 B-2 7,753,000.00 4.21699% 994.47843802 3.49475300 0.00000000 0.00000000 B-3 5,168,000.00 4.21699% 994.47843847 3.49475232 0.00000000 0.00000000 B-4 1,938,000.00 4.21699% 994.47843653 3.49475232 0.00000000 0.00000000 B-5 1,938,000.00 4.21699% 994.47843653 3.49475232 0.00000000 0.00000000 B-6 2,584,620.00 4.21699% 994.47843784 3.49475358 0.00000000 0.00000000 1-IO 0.00 0.30479% 867.14531302 0.22024986 0.00000000 0.00000000 2-IO 0.00 0.00115% 952.97227858 0.00090929 0.00000000 0.00000000 3-IO 0.00 0.01565% 965.47693949 0.01258827 0.00000000 0.00000000 SES 0.00 0.00000% 938.51509662 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 2.47002093 0.00000000 787.02443930 1-A-2 0.00000000 0.00000000 2.84136634 0.00000000 787.02443933 1-A-3 0.00000000 0.00000000 2.84136434 0.00000000 787.02443928 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 30.80000000 0.00000000 0.00000000 2-A-1 0.00000004 0.00000000 3.33473242 0.00000000 925.95376342 2-A-2 0.00000005 0.00000000 3.58378329 0.00000000 925.95376343 2-A-3 0.00000000 0.00000000 1.05997353 0.00000000 643.84034000 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 3.37916651 0.00000000 1000.00000000 2-A-7 0.00000000 0.00000000 3.58948794 0.00000000 1000.00000000 2-A-8 0.00000000 0.00000000 3.58948795 0.00000000 1000.00000000 2-A-9 0.00000000 0.00000000 2.18523467 0.00000000 643.84034024 2-A-IO 0.00000000 0.00000000 0.77097216 0.00000000 870.95864890 3-A-1 0.00000000 0.00000000 3.31753740 0.00000000 963.16479720 3-A-2 0.00000000 0.00000000 3.79898423 0.00000000 963.16479701 4-A-1 0.00000005 0.00000000 3.80223129 0.00000000 958.03676478 B-1 0.00000000 0.00000000 3.49475297 0.00000000 993.34730931 B-2 0.00000000 0.00000000 3.49475300 0.00000000 993.34730943 B-3 0.00000000 0.00000000 3.49475232 0.00000000 993.34730844 B-4 0.00000000 0.00000000 3.49475232 0.00000000 993.34731166 B-5 0.00000000 0.00000000 3.49475232 0.00000000 993.34731166 B-6 0.00000000 0.00000000 3.49475358 0.00000000 993.34730831 1-IO 0.00000000 0.00000000 0.22024986 0.00000000 792.64071370 2-IO 0.00000000 0.00000000 0.00090929 0.00000000 927.82085327 3-IO 0.00000000 0.00000000 0.01258827 0.00000000 964.17707819 SES 0.00000000 0.00000000 0.18698498 0.00000000 904.70077859 <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% 254,432,057.37 232,571,409.33 0.00 0.00 79.26407137% 2-SES 0.00000% 665,302,607.62 647,743,535.63 0.00 0.00 92.78208533% 3-SES 0.00000% 79,791,279.38 79,683,853.10 0.00 0.00 96.41770782% 4-SES 0.00000% 213,084,101.15 208,921,399.66 0.00 0.00 95.89725335% CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT <s> <c> Beginning Balance 0.00 Deposits Payments of Interest and Principal 48,327,294.61 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 48,327,294.61 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 52,546.51 Payment of Interest and Principal 48,274,748.10 Total Withdrawals (Pool Distribution Amount) 48,327,294.61 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 50,525.41 Trustee Fee - Wells Fargo Bank, N.A. 2,021.10 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 52,546.51 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 11 0 0 0 11 5,586,042.33 0.00 0.00 0.00 5,586,042.33 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 1 0 0 0 1 881,250.00 0.00 0.00 0.00 881,250.00 120 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 12 0 0 0 12 6,467,292.33 0.00 0.00 0.00 6,467,292.33 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 0.484581% 0.000000% 0.000000% 0.000000% 0.484581% 0.477425% 0.000000% 0.000000% 0.000000% 0.477425% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.044053% 0.000000% 0.000000% 0.000000% 0.044053% 0.075318% 0.000000% 0.000000% 0.000000% 0.075318% 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 0.528634% 0.000000% 0.000000% 0.000000% 0.528634% 0.552744% 0.000000% 0.000000% 0.000000% 0.552744% Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 4 0 0 0 4 2,557,684.77 0.00 0.00 0.00 2,557,684.77 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 2,557,684.77 0.00 0.00 0.00 2,557,684.77 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.879121% 0.000000% 0.000000% 0.000000% 0.879121% 1.098437% 0.000000% 0.000000% 0.000000% 1.098437% 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 0.879121% 0.000000% 0.000000% 0.000000% 0.879121% 1.098437% 0.000000% 0.000000% 0.000000% 1.098437% <caption> DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 4 0 0 0 4 1,591,725.96 0.00 0.00 0.00 1,591,725.96 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 1 0 0 0 1 881,250.00 0.00 0.00 0.00 881,250.00 120 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 5 0 0 0 5 2,472,975.96 0.00 0.00 0.00 2,472,975.96 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.316706% 0.000000% 0.000000% 0.000000% 0.316706% 0.245514% 0.000000% 0.000000% 0.000000% 0.245514% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.079177% 0.000000% 0.000000% 0.000000% 0.079177% 0.135927% 0.000000% 0.000000% 0.000000% 0.135927% 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 0.395883% 0.000000% 0.000000% 0.000000% 0.395883% 0.381441% 0.000000% 0.000000% 0.000000% 0.381441% <caption> DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 1 0 0 0 1 399,989.88 0.00 0.00 0.00 399,989.88 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1 0 0 0 1 399,989.88 0.00 0.00 0.00 399,989.88 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.699301% 0.000000% 0.000000% 0.000000% 0.699301% 0.501970% 0.000000% 0.000000% 0.000000% 0.501970% 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 0.699301% 0.000000% 0.000000% 0.000000% 0.699301% 0.501970% 0.000000% 0.000000% 0.000000% 0.501970% <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 2 0 0 0 2 1,036,641.72 0.00 0.00 0.00 1,036,641.72 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 2 0 0 0 2 1,036,641.72 0.00 0.00 0.00 1,036,641.72 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.488998% 0.000000% 0.000000% 0.000000% 0.488998% 0.495579% 0.000000% 0.000000% 0.000000% 0.495579% 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 0.488998% 0.000000% 0.000000% 0.000000% 0.488998% 0.495579% 0.000000% 0.000000% 0.000000% 0.495579% OTHER INFORMATION <s> <c> Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00 COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.576367% Weighted Average Net Coupon 4.300139% Weighted Average Pass-Through Rate 4.298139% Weighted Average Maturity(Stepdown Calculation ) 350 Beginning Scheduled Collateral Loan Count 2,352 Number Of Loans Paid In Full 82 Ending Scheduled Collateral Loan Count 2,270 Beginning Scheduled Collateral Balance 1,212,610,045.52 Ending Scheduled Collateral Balance 1,168,920,197.72 Ending Actual Collateral Balance at 31-Mar-2004 1,170,034,412.50 Monthly P &I Constant 5,995,369.41 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 1,168,920,197.72 Scheduled Principal 1,370,911.87 Unscheduled Principal 42,318,935.93 Miscellaneous Reporting Total Senior % 97.085838% Aggregate Subordinate % 2.914162% Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.241198 4.589386 4.621570 Weighted Average Net Rate 3.991198 4.339385 4.371570 Weighted Average Maturity 350 351 350 Beginning Loan Count 495 1,298 144 Loans Paid In Full 40 35 1 Ending Loan Count 455 1,263 143 Beginning Scheduled Balance 254,432,057.37 665,302,607.62 79,791,279.38 Ending scheduled Balance 232,571,409.33 647,743,535.63 79,683,853.10 Record Date 03/31/2004 03/31/2004 03/31/2004 Principal And Interest Constant 1,280,743.70 3,243,763.02 308,467.11 Scheduled Principal 381,496.45 699,321.20 1,166.32 Unscheduled Principal 21,479,151.59 16,859,750.79 106,259.96 Scheduled Interest 899,247.25 2,544,441.82 307,300.79 Servicing Fees 53,006.66 138,604.78 16,623.16 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 424.04 1,108.85 133.04 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 26,503.36 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 819,313.19 2,404,728.19 290,544.59 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 3.864198 4.337386 4.369570 Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.919002 4.576367 Weighted Average Net Rate 4.669003 4.300139 Weighted Average Maturity 348 350 Beginning Loan Count 415 2,352 Loans Paid In Full 6 82 Ending Loan Count 409 2,270 Beginning Scheduled Balance 213,084,101.15 1,212,610,045.52 Ending scheduled Balance 208,921,399.66 1,168,920,197.72 Record Date 03/31/2004 03/31/2004 Principal And Interest Constant 1,162,395.58 5,995,369.41 Scheduled Principal 288,927.90 1,370,911.87 Unscheduled Principal 3,873,773.59 42,318,935.93 Scheduled Interest 873,467.68 4,624,457.54 Servicing Fees 44,392.51 252,627.11 Master Servicing Fees 0.00 0.00 Trustee Fee 355.17 2,021.10 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 26,503.36 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 828,720.00 4,343,305.97 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 4.667002 4.298139 Miscellaneous Reporting Group Group 1 CPR 65.355524% Senior % 96.851529% Senior Prepayment % 100.000000% Subordinate % 3.148471% Subordinate Prepayment % 0.000000% Group Group 2 CPR 26.533858% Senior % 97.128946% Senior Prepayment % 100.000000% Subordinate % 2.871054% Subordinate Prepayment % 0.000000% Group Group 3 CPR 1.586439% Senior % 97.150856% Senior Prepayment % 100.000000% Subordinate % 2.849144% Subordinate Prepayment % 0.000000% Miscellaneous Reporting Group Group 4 CPR 19.785322% Senior % 97.206672% Senior Prepayment % 100.000000% Subordinate % 2.793328% Subordinate Prepayment % 0.000000%