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): May 25, 2004
BANC OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2003-I Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-105940-10 54-2126355
Pooling and Servicing Agreement) (Commission 54-2126356
(State or other File Number) 54-2126357
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 May 25, 2004 a distribution was made to holders of BANC OF AMERICA MORTGAGE
SECURITIES, INC., Mortgage Pass-Through Certificates, Series 2003-I 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-I Trust, relating to the
May 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-I 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: 5/28/04
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2003-I Trust,
relating to the May 25, 2004 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 4/30/04
Distribution Date: 5/25/04
BAM Series: 2003-I
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 05948XUT6 SEN 3.32616% 202,001,001.55 559,907.06 22,378,739.06
1-A-R 05948XUU3 SEN 3.32005% 0.00 0.00 0.00
1-A-MR 05948XUV1 SEN 3.32005% 0.00 0.00 0.00
1-A-LR 05948XUW9 SEN 3.32005% 0.00 0.00 0.00
2-A-1 05948XUX7 SEN 1.58300% 76,448,936.65 100,848.89 39,027,316.76
2-A-2 05948XUY5 SEN 3.64700% 71,478,000.00 217,233.55 0.00
2-A-3 05948XUZ2 SEN 3.33500% 63,157,000.00 175,523.83 0.00
2-A-4 05948XVA6 SEN 3.82800% 89,485,000.00 285,457.15 0.00
2-A-5 05948XVB4 SEN 4.23573% 86,608,000.00 305,706.82 0.00
2-A-6 05948XVC2 SEN 4.23573% 230,070,000.00 812,095.51 0.00
2-A-7 05948XVD0 SEN 3.75700% 50,000,000.00 156,541.66 0.00
2-A-IO 05948XVE8 IO 1.03315% 0.00 301,824.67 0.00
3-A-1 05948XVF5 SEN 4.55571% 159,259,675.02 604,616.76 5,597,580.61
B-1 05948XVG3 SUB 4.07628% 15,058,784.80 51,153.16 18,232.39
B-2 05948XVH1 SUB 4.07628% 7,228,375.40 24,554.06 8,751.74
B-3 05948XVJ7 SUB 4.07628% 4,818,255.72 16,367.13 5,833.69
B-4 05948XVK4 SUB 4.07628% 1,807,093.85 6,138.51 2,187.93
B-5 05948XVL2 SUB 4.07628% 1,807,093.85 6,138.51 2,187.93
B-6 05948XVM0 SUB 4.07628% 2,409,735.84 8,185.63 2,917.58
SES 05948XVN8 SEN 0.00000% 0.00 210,157.22 0.00
1-IO 05948XVP3 IO 0.44500% 0.00 77,684.31 0.00
Totals 1,061,636,952.68 3,920,134.43 67,043,747.69
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-A-1 0.00 179,622,262.49 22,938,646.12 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 0.00 0.00
2-A-1 0.00 37,421,619.89 39,128,165.65 0.00
2-A-2 0.00 71,478,000.00 217,233.55 0.00
2-A-3 0.00 63,157,000.00 175,523.83 0.00
2-A-4 0.00 89,485,000.00 285,457.15 0.00
2-A-5 0.00 86,608,000.00 305,706.82 0.00
2-A-6 0.00 230,070,000.00 812,095.51 0.00
2-A-7 0.00 50,000,000.00 156,541.66 0.00
2-A-IO 0.00 0.00 301,824.67 0.00
3-A-1 0.00 153,662,094.41 6,202,197.37 0.00
B-1 0.00 15,040,552.42 69,385.55 0.00
B-2 0.00 7,219,623.66 33,305.80 0.00
B-3 0.00 4,812,422.03 22,200.82 0.00
B-4 0.00 1,804,905.91 8,326.44 0.00
B-5 0.00 1,804,905.91 8,326.44 0.00
B-6 0.00 2,406,818.26 11,103.21 0.00
SES 0.00 0.00 210,157.22 0.00
1-IO 0.00 0.00 77,684.31 0.00
Totals 0.00 994,593,204.98 70,963,882.12 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-1 267,438,000.00 202,001,001.55 309,416.40 22,069,322.66 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-1 152,746,000.00 76,448,936.65 697,306.02 38,330,010.74 0.00 0.00
2-A-2 71,478,000.00 71,478,000.00 0.00 0.00 0.00 0.00
2-A-3 63,157,000.00 63,157,000.00 0.00 0.00 0.00 0.00
2-A-4 89,485,000.00 89,485,000.00 0.00 0.00 0.00 0.00
2-A-5 86,608,000.00 86,608,000.00 0.00 0.00 0.00 0.00
2-A-6 230,070,000.00 230,070,000.00 0.00 0.00 0.00 0.00
2-A-7 50,000,000.00 50,000,000.00 0.00 0.00 0.00 0.00
2-A-IO 0.00 0.00 0.00 0.00 0.00 0.00
3-A-1 170,194,000.00 159,259,675.02 228,124.28 5,369,456.33 0.00 0.00
B-1 15,183,000.00 15,058,784.80 18,232.39 0.00 0.00 0.00
B-2 7,288,000.00 7,228,375.40 8,751.74 0.00 0.00 0.00
B-3 4,858,000.00 4,818,255.72 5,833.69 0.00 0.00 0.00
B-4 1,822,000.00 1,807,093.85 2,187.93 0.00 0.00 0.00
B-5 1,822,000.00 1,807,093.85 2,187.93 0.00 0.00 0.00
B-6 2,429,613.00 2,409,735.84 2,917.58 0.00 0.00 0.00
SES 0.00 0.00 0.00 0.00 0.00 0.00
1-IO 0.00 0.00 0.00 0.00 0.00 0.00
Totals 1,214,578,713.00 1,061,636,952.68 1,274,957.96 65,768,789.73 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 22,378,739.06 179,622,262.49 0.67164076 22,378,739.06
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 39,027,316.76 37,421,619.89 0.24499247 39,027,316.76
2-A-2 0.00 71,478,000.00 1.00000000 0.00
2-A-3 0.00 63,157,000.00 1.00000000 0.00
2-A-4 0.00 89,485,000.00 1.00000000 0.00
2-A-5 0.00 86,608,000.00 1.00000000 0.00
2-A-6 0.00 230,070,000.00 1.00000000 0.00
2-A-7 0.00 50,000,000.00 1.00000000 0.00
2-A-IO 0.00 0.00 0.00000000 0.00
3-A-1 5,597,580.61 153,662,094.41 0.90286435 5,597,580.61
B-1 18,232.39 15,040,552.42 0.99061796 18,232.39
B-2 8,751.74 7,219,623.66 0.99061796 8,751.74
B-3 5,833.69 4,812,422.03 0.99061796 5,833.69
B-4 2,187.93 1,804,905.91 0.99061795 2,187.93
B-5 2,187.93 1,804,905.91 0.99061795 2,187.93
B-6 2,917.58 2,406,818.26 0.99061795 2,917.58
SES 0.00 0.00 0.00000000 0.00
1-IO 0.00 0.00 0.00000000 0.00
Totals 67,043,747.69 994,593,204.98 0.81887917 67,043,747.69
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-1 267,438,000.00 755.31899562 1.15696498 82.52126721 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-1 152,746,000.00 500.49714330 4.56513441 250.93953845 0.00000000
2-A-2 71,478,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-3 63,157,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-4 89,485,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-5 86,608,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-6 230,070,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-7 50,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2-A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
3-A-1 170,194,000.00 935.75375759 1.34037792 31.54903422 0.00000000
B-1 15,183,000.00 991.81879734 1.20084239 0.00000000 0.00000000
B-2 7,288,000.00 991.81879802 1.20084248 0.00000000 0.00000000
B-3 4,858,000.00 991.81879786 1.20084191 0.00000000 0.00000000
B-4 1,822,000.00 991.81879802 1.20083974 0.00000000 0.00000000
B-5 1,822,000.00 991.81879802 1.20083974 0.00000000 0.00000000
B-6 2,429,613.00 991.81879583 1.20084145 0.00000000 0.00000000
SES 0.00 0.00000000 0.00000000 0.00000000 0.00000000
1-IO 0.00 0.00000000 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>
1-A-1 0.00000000 83.67823219 671.64076343 0.67164076 83.67823219
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 255.50467286 244.99247044 0.24499247 255.50467286
2-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
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-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
3-A-1 0.00000000 32.88941214 902.86434545 0.90286435 32.88941214
B-1 0.00000000 1.20084239 990.61795561 0.99061796 1.20084239
B-2 0.00000000 1.20084248 990.61795554 0.99061796 1.20084248
B-3 0.00000000 1.20084191 990.61795595 0.99061796 1.20084191
B-4 0.00000000 1.20083974 990.61795280 0.99061795 1.20083974
B-5 0.00000000 1.20083974 990.61795280 0.99061795 1.20083974
B-6 0.00000000 1.20084145 990.61795438 0.99061795 1.20084145
SES 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
1-IO 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-1 267,438,000.00 3.32616% 202,001,001.55 559,907.07 0.00 0.00
1-A-R 50.00 3.32005% 0.00 0.00 0.00 0.00
1-A-MR 25.00 3.32005% 0.00 0.00 0.00 0.00
1-A-LR 25.00 3.32005% 0.00 0.00 0.00 0.00
2-A-1 152,746,000.00 1.58300% 76,448,936.65 100,848.89 0.00 0.00
2-A-2 71,478,000.00 3.64700% 71,478,000.00 217,233.56 0.00 0.00
2-A-3 63,157,000.00 3.33500% 63,157,000.00 175,523.83 0.00 0.00
2-A-4 89,485,000.00 3.82800% 89,485,000.00 285,457.15 0.00 0.00
2-A-5 86,608,000.00 4.23573% 86,608,000.00 305,706.82 0.00 0.00
2-A-6 230,070,000.00 4.23573% 230,070,000.00 812,095.52 0.00 0.00
2-A-7 50,000,000.00 3.75700% 50,000,000.00 156,541.67 0.00 0.00
2-A-IO 0.00 1.03315% 350,568,936.65 301,824.67 0.00 0.00
3-A-1 170,194,000.00 4.55571% 159,259,675.02 604,616.77 0.00 0.00
B-1 15,183,000.00 4.07628% 15,058,784.80 51,153.17 0.00 0.00
B-2 7,288,000.00 4.07628% 7,228,375.40 24,554.06 0.00 0.00
B-3 4,858,000.00 4.07628% 4,818,255.72 16,367.13 0.00 0.00
B-4 1,822,000.00 4.07628% 1,807,093.85 6,138.51 0.00 0.00
B-5 1,822,000.00 4.07628% 1,807,093.85 6,138.51 0.00 0.00
B-6 2,429,613.00 4.07628% 2,409,735.84 8,185.63 0.00 0.00
SES 0.00 0.00000% 1,061,636,953.46 0.00 0.00 0.00
1-IO 0.00 0.44500% 209,485,788.59 77,684.31 0.00 0.00
Totals 1,214,578,713.00 3,709,977.27 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 0.00 559,907.06 0.00 179,622,262.49
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 0.00 0.00 0.00
2-A-1 0.00 0.00 100,848.89 0.00 37,421,619.89
2-A-2 0.00 0.00 217,233.55 0.00 71,478,000.00
2-A-3 0.00 0.00 175,523.83 0.00 63,157,000.00
2-A-4 0.00 0.00 285,457.15 0.00 89,485,000.00
2-A-5 0.00 0.00 305,706.82 0.00 86,608,000.00
2-A-6 0.01 0.00 812,095.51 0.00 230,070,000.00
2-A-7 0.00 0.00 156,541.66 0.00 50,000,000.00
2-A-IO 0.00 0.00 301,824.67 0.00 311,541,619.89
3-A-1 0.01 0.00 604,616.76 0.00 153,662,094.41
B-1 0.00 0.00 51,153.16 0.00 15,040,552.42
B-2 0.00 0.00 24,554.06 0.00 7,219,623.66
B-3 0.00 0.00 16,367.13 0.00 4,812,422.03
B-4 0.00 0.00 6,138.51 0.00 1,804,905.91
B-5 0.00 0.00 6,138.51 0.00 1,804,905.91
B-6 0.00 0.00 8,185.63 0.00 2,406,818.26
SES 0.00 0.00 210,157.22 0.00 994,593,205.77
1-IO 0.00 0.00 77,684.31 0.00 187,095,584.66
Totals 0.03 0.00 3,920,134.43 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-1 267,438,000.00 3.32616% 755.31899562 2.09359579 0.00000000 0.00000000
1-A-R 50.00 3.32005% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-MR 25.00 3.32005% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 25.00 3.32005% 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 152,746,000.00 1.58300% 500.49714330 0.66023916 0.00000000 0.00000000
2-A-2 71,478,000.00 3.64700% 1000.00000000 3.03916674 0.00000000 0.00000000
2-A-3 63,157,000.00 3.33500% 1000.00000000 2.77916668 0.00000000 0.00000000
2-A-4 89,485,000.00 3.82800% 1000.00000000 3.19000000 0.00000000 0.00000000
2-A-5 86,608,000.00 4.23573% 1000.00000000 3.52977577 0.00000000 0.00000000
2-A-6 230,070,000.00 4.23573% 1000.00000000 3.52977581 0.00000000 0.00000000
2-A-7 50,000,000.00 3.75700% 1000.00000000 3.13083340 0.00000000 0.00000000
2-A-IO 0.00 1.03315% 821.26226181 0.70707124 0.00000000 0.00000000
3-A-1 170,194,000.00 4.55571% 935.75375759 3.55251519 0.00000000 0.00000000
B-1 15,183,000.00 4.07628% 991.81879734 3.36910821 0.00000000 0.00000000
B-2 7,288,000.00 4.07628% 991.81879802 3.36910812 0.00000000 0.00000000
B-3 4,858,000.00 4.07628% 991.81879786 3.36910869 0.00000000 0.00000000
B-4 1,822,000.00 4.07628% 991.81879802 3.36910538 0.00000000 0.00000000
B-5 1,822,000.00 4.07628% 991.81879802 3.36910538 0.00000000 0.00000000
B-6 2,429,613.00 4.07628% 991.81879583 3.36910858 0.00000000 0.00000000
SES 0.00 0.00000% 855.07019544 0.00000000 0.00000000 0.00000000
1-IO 0.00 0.44500% 761.76362394 0.28248733 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>
1-A-1 0.00000004 0.00000000 2.09359575 0.00000000 671.64076343
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 0.00000000 0.66023916 0.00000000 244.99247044
2-A-2 0.00000000 0.00000000 3.03916660 0.00000000 1000.00000000
2-A-3 0.00000000 0.00000000 2.77916668 0.00000000 1000.00000000
2-A-4 0.00000000 0.00000000 3.19000000 0.00000000 1000.00000000
2-A-5 0.00000000 0.00000000 3.52977577 0.00000000 1000.00000000
2-A-6 0.00000004 0.00000000 3.52977576 0.00000000 1000.00000000
2-A-7 0.00000000 0.00000000 3.13083320 0.00000000 1000.00000000
2-A-IO 0.00000000 0.00000000 0.70707124 0.00000000 729.83470197
3-A-1 0.00000006 0.00000000 3.55251513 0.00000000 902.86434545
B-1 0.00000000 0.00000000 3.36910755 0.00000000 990.61795561
B-2 0.00000000 0.00000000 3.36910812 0.00000000 990.61795554
B-3 0.00000000 0.00000000 3.36910869 0.00000000 990.61795595
B-4 0.00000000 0.00000000 3.36910538 0.00000000 990.61795280
B-5 0.00000000 0.00000000 3.36910538 0.00000000 990.61795280
B-6 0.00000000 0.00000000 3.36910858 0.00000000 990.61795438
SES 0.00000000 0.00000000 0.16926613 0.00000000 801.07140588
1-IO 0.00000000 0.00000000 0.28248733 0.00000000 680.34500838
<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>
SES-1 0.00000% 209,485,788.59 187,095,584.66 0.00 0.00 68.03450084%
SES-2 0.00000% 688,124,372.11 649,075,237.40 0.00 0.00 84.89415852%
SES-3 0.00000% 164,026,792.76 158,422,383.71 0.00 0.00 9.05266776%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 71,009,886.44
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 71,009,886.44
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 46,004.32
Payment of Interest and Principal 70,963,882.12
Total Withdrawals (Pool Distribution Amount) 71,009,886.44
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 44,234.87
Trustee Fee - Wells Fargo Bank, N.A. 1,769.45
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 46,004.32
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 5 0 0 0 5
2,778,669.42 0.00 0.00 0.00 2,778,669.42
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 1 0 0 0 1
474,154.72 0.00 0.00 0.00 474,154.72
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 6 0 0 0 6
3,252,824.14 0.00 0.00 0.00 3,252,824.14
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 0.261643% 0.000000% 0.000000% 0.000000% 0.261643%
0.279090% 0.000000% 0.000000% 0.000000% 0.279090%
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 0.052329% 0.000000% 0.000000% 0.000000% 0.052329%
0.047624% 0.000000% 0.000000% 0.000000% 0.047624%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.313972% 0.000000% 0.000000% 0.000000% 0.313972%
0.326714% 0.000000% 0.000000% 0.000000% 0.326714%
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
1,678,943.48 0.00 0.00 0.00 1,678,943.48
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 1 0 0 0 1
474,154.72 0.00 0.00 0.00 474,154.72
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 4 0 0 0 4
2,153,098.20 0.00 0.00 0.00 2,153,098.20
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.808625% 0.000000% 0.000000% 0.000000% 0.808625%
0.896153% 0.000000% 0.000000% 0.000000% 0.896153%
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 0.269542% 0.000000% 0.000000% 0.000000% 0.269542%
0.253085% 0.000000% 0.000000% 0.000000% 0.253085%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 1.078167% 0.000000% 0.000000% 0.000000% 1.078167%
1.149238% 0.000000% 0.000000% 0.000000% 1.149238%
<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 1 0 0 0 1
616,128.15 0.00 0.00 0.00 616,128.15
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
616,128.15 0.00 0.00 0.00 616,128.15
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.081699% 0.000000% 0.000000% 0.000000% 0.081699%
0.094840% 0.000000% 0.000000% 0.000000% 0.094840%
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 0.081699% 0.000000% 0.000000% 0.000000% 0.081699%
0.094840% 0.000000% 0.000000% 0.000000% 0.094840%
<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
483,597.79 0.00 0.00 0.00 483,597.79
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
483,597.79 0.00 0.00 0.00 483,597.79
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.316456% 0.000000% 0.000000% 0.000000% 0.316456%
0.304879% 0.000000% 0.000000% 0.000000% 0.304879%
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 0.316456% 0.000000% 0.000000% 0.000000% 0.316456%
0.304879% 0.000000% 0.000000% 0.000000% 0.304879%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 15,437.79
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 4.470164%
Weighted Average Net Coupon 4.195498%
Weighted Average Pass-Through Rate 4.193498%
Weighted Average Maturity(Stepdown Calculation ) 347
Beginning Scheduled Collateral Loan Count 2,022
Number Of Loans Paid In Full 111
Ending Scheduled Collateral Loan Count 1,911
Beginning Scheduled Collateral Balance 1,061,636,953.46
Ending Scheduled Collateral Balance 994,593,205.77
Ending Actual Collateral Balance at 30-Apr-2004 995,616,770.14
Monthly P &I Constant 5,229,700.42
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 994,593,205.77
Scheduled Principal 1,274,957.96
Unscheduled Principal 65,768,789.73
Miscellaneous Reporting
Total Senior % 96.879410%
Aggregate Subordinate % 3.120590%
Group Level Collateral Statement
Group Group 1 Group 2 Group 3
Collateral Description Mixed ARM Mixed ARM Mixed ARM
Weighted Average Coupon Rate 4.148164 4.487731 4.807705
Weighted Average Net Rate 3.773164 4.237731 4.557705
Weighted Average Maturity 348 349 346
Beginning Loan Count 409 1,289 324
Loans Paid In Full 38 65 8
Ending Loan Count 371 1,224 316
Beginning Scheduled Balance 209,485,788.59 688,124,372.11 164,026,792.76
Ending scheduled Balance 187,095,584.66 649,075,237.40 158,422,383.71
Record Date 04/30/2004 04/30/2004 04/30/2004
Principal And Interest Constant 1,045,032.46 3,292,554.86 892,113.10
Scheduled Principal 320,881.27 719,123.97 234,952.72
Unscheduled Principal 22,069,322.66 38,330,010.74 5,369,456.33
Scheduled Interest 724,151.19 2,573,430.89 657,160.38
Servicing Fees 43,642.88 143,359.27 34,172.23
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 349.16 1,146.93 273.36
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 21,821.39 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 658,337.76 2,428,924.69 622,714.79
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 3.771164 4.235731 4.555705
Group Level Collateral Statement
Group Total
Collateral Description Mixed ARM
Weighted Average Coupon Rate 4.470164
Weighted Average Net Rate 4.195498
Weighted Average Maturity 347
Beginning Loan Count 2,022
Loans Paid In Full 111
Ending Loan Count 1,911
Beginning Scheduled Balance 1,061,636,953.46
Ending scheduled Balance 994,593,205.77
Record Date 04/30/2004
Principal And Interest Constant 5,229,700.42
Scheduled Principal 1,274,957.96
Unscheduled Principal 65,768,789.73
Scheduled Interest 3,954,742.46
Servicing Fees 221,174.38
Master Servicing Fees 0.00
Trustee Fee 1,769.45
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 21,821.39
Pool Insurance Fee 0.00
Spread Fee 1 0.00
Spread Fee 2 0.00
Spread Fee 3 0.00
Net Interest 3,709,977.24
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Prepayment Penalties 0.00
Special Servicing Fee 0.00
Pass-Through Rate 4.193498
Miscellaneous Reporting
Group Group 1
CPR 73.764062%
Senior % 96.427067%
Senior Prepayment % 100.000000%
Subordinate % 3.572933%
Subordinate Prepayment % 0.000000%
Group Group 2
CPR 49.767318%
Senior % 96.966037%
Senior Prepayment % 100.000000%
Subordinate % 3.033963%
Subordinate Prepayment % 0.000000%
Group Group 3
CPR 32.966579%
Senior % 97.093696%
Senior Prepayment % 100.000000%
Subordinate % 2.906304%
Subordinate Prepayment % 0.000000%