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-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 May 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 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-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: 5/28/04 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 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-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 3.42409% 169,210,254.45 482,825.94 13,895,471.73 1-A-2 05948XXX4 SEN 3.94009% 53,839,554.87 176,777.24 4,421,280.58 1-A-3 05948XXY2 SEN 3.94009% 1,522,892.29 5,000.28 125,059.25 1-A-R 05948XXZ9 SEN 3.54501% 0.00 0.00 0.00 1-A-MR 05948XYA3 SEN 3.54501% 0.00 0.00 0.00 1-A-LR 05948XYB1 SEN 3.54501% 0.00 0.74 0.00 2-A-1 05948XYC9 SEN 4.19700% 222,228,903.22 777,245.41 14,199,221.24 2-A-2 05948XYD7 SEN 4.51100% 194,450,290.32 730,970.89 12,424,318.58 2-A-3 05948XYE5 SEN 1.65600% 10,945,285.78 15,104.49 4,837,755.81 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 4.30000% 27,165,000.00 97,341.23 0.00 2-A-8 05948XYK1 SEN 4.30000% 70,403,000.00 252,277.36 0.00 2-A-9 05948XYL9 SEN 3.41400% 19,698,939.05 56,043.48 8,706,822.17 2-A-IO 05948XYM7 IO 0.97622% 0.00 93,078.45 0.00 3-A-1 05948XYN5 SEN 4.12635% 48,158,239.86 165,598.04 706,967.18 3-A-2 05948XYP0 SEN 4.72535% 29,252,278.05 115,189.32 429,426.00 4-A-1 05948XYQ8 SEN 4.65992% 202,977,333.28 788,215.72 8,329,669.81 B-1 05948XYR6 SUB 4.20994% 16,044,545.74 56,288.81 18,398.26 B-2 05948XYS4 SUB 4.20994% 7,701,421.69 27,018.77 8,831.21 B-3 05948XYT2 SUB 4.20994% 5,133,618.89 18,010.19 5,886.72 B-4 05948XYY1 SUB 4.20994% 1,925,107.09 6,753.82 2,207.52 B-5 05948XYZ8 SUB 4.20994% 1,925,107.09 6,753.82 2,207.52 B-6 05948XZA2 SUB 4.20994% 2,567,425.32 9,007.26 2,944.06 1-IO 05948XYV7 IO 0.30479% 0.00 59,071.78 0.00 2-IO 05948XYW5 IO 0.00115% 0.00 618.06 0.00 3-IO 05948XYX3 IO 0.01565% 0.00 1,038.94 0.00 SES 05948XYU9 SEN 0.00000% 0.00 245,500.76 0.00 Totals 1,168,920,196.99 4,431,492.17 68,116,467.64 Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses <s> <c> <c> <c> <c> 1-A-1 0.00 155,314,782.72 14,378,297.67 0.00 1-A-2 0.00 49,418,274.28 4,598,057.82 0.00 1-A-3 0.00 1,397,833.04 130,059.53 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 0.74 0.00 2-A-1 0.00 208,029,681.98 14,976,466.65 0.00 2-A-2 0.00 182,025,971.74 13,155,289.47 0.00 2-A-3 0.00 6,107,529.97 4,852,860.30 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 97,341.23 0.00 2-A-8 0.00 70,403,000.00 252,277.36 0.00 2-A-9 0.00 10,992,116.88 8,762,865.65 0.00 2-A-IO 0.00 0.00 93,078.45 0.00 3-A-1 0.00 47,451,272.68 872,565.22 0.00 3-A-2 0.00 28,822,852.05 544,615.32 0.00 4-A-1 0.00 194,647,663.47 9,117,885.53 0.00 B-1 0.00 16,026,147.47 74,687.07 0.00 B-2 0.00 7,692,590.48 35,849.98 0.00 B-3 0.00 5,127,732.18 23,896.91 0.00 B-4 0.00 1,922,899.57 8,961.34 0.00 B-5 0.00 1,922,899.57 8,961.34 0.00 B-6 0.00 2,564,481.26 11,951.32 0.00 1-IO 0.00 0.00 59,071.78 0.00 2-IO 0.00 0.00 618.06 0.00 3-IO 0.00 0.00 1,038.94 0.00 SES 0.00 0.00 245,500.76 0.00 Totals 0.00 1,100,803,729.34 72,547,959.81 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-1 215,000,000.00 169,210,254.45 253,935.96 13,641,535.77 0.00 0.00 1-A-2 68,409,000.00 53,839,554.87 80,797.70 4,340,482.89 0.00 0.00 1-A-3 1,935,000.00 1,522,892.29 2,285.42 122,773.82 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-1 240,000,000.00 222,228,903.22 236,541.71 13,962,679.53 0.00 0.00 2-A-2 210,000,000.00 194,450,290.32 206,973.99 12,217,344.59 0.00 0.00 2-A-3 17,000,000.00 10,945,285.78 80,591.11 4,757,164.70 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 19,698,939.05 145,045.04 8,561,777.13 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 48,158,239.86 437.36 706,529.82 0.00 0.00 3-A-2 30,371,000.00 29,252,278.05 265.66 429,160.34 0.00 0.00 4-A-1 211,868,000.00 202,977,333.28 277,992.26 8,051,677.55 0.00 0.00 B-1 16,152,000.00 16,044,545.74 18,398.26 0.00 0.00 0.00 B-2 7,753,000.00 7,701,421.69 8,831.21 0.00 0.00 0.00 B-3 5,168,000.00 5,133,618.89 5,886.72 0.00 0.00 0.00 B-4 1,938,000.00 1,925,107.09 2,207.52 0.00 0.00 0.00 B-5 1,938,000.00 1,925,107.09 2,207.52 0.00 0.00 0.00 B-6 2,584,620.00 2,567,425.32 2,944.06 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 1,168,920,196.99 1,325,341.50 66,791,126.14 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 13,895,471.73 155,314,782.72 0.72239434 13,895,471.73 1-A-2 4,421,280.58 49,418,274.28 0.72239434 4,421,280.58 1-A-3 125,059.25 1,397,833.04 0.72239434 125,059.25 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 14,199,221.24 208,029,681.98 0.86679034 14,199,221.24 2-A-2 12,424,318.58 182,025,971.74 0.86679034 12,424,318.58 2-A-3 4,837,755.81 6,107,529.97 0.35926647 4,837,755.81 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 8,706,822.17 10,992,116.88 0.35926647 8,706,822.17 2-A-IO 0.00 0.00 0.00000000 0.00 3-A-1 706,967.18 47,451,272.68 0.94902545 706,967.18 3-A-2 429,426.00 28,822,852.05 0.94902545 429,426.00 4-A-1 8,329,669.81 194,647,663.47 0.91872139 8,329,669.81 B-1 18,398.26 16,026,147.47 0.99220824 18,398.26 B-2 8,831.21 7,692,590.48 0.99220824 8,831.21 B-3 5,886.72 5,127,732.18 0.99220824 5,886.72 B-4 2,207.52 1,922,899.57 0.99220824 2,207.52 B-5 2,207.52 1,922,899.57 0.99220824 2,207.52 B-6 2,944.06 2,564,481.26 0.99220824 2,944.06 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 68,116,467.64 1,100,803,729.34 0.85198116 68,116,467.64 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-1 215,000,000.00 787.02443930 1.18109749 63.44900358 0.00000000 1-A-2 68,409,000.00 787.02443933 1.18109752 63.44900364 0.00000000 1-A-3 1,935,000.00 787.02443928 1.18109561 63.44900258 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-1 240,000,000.00 925.95376342 0.98559046 58.17783137 0.00000000 2-A-2 210,000,000.00 925.95376343 0.98559043 58.17783138 0.00000000 2-A-3 17,000,000.00 643.84034000 4.74065353 279.83321765 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 30,596,000.00 643.84034024 4.74065368 279.83321774 0.00000000 2-A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 3-A-1 50,000,000.00 963.16479720 0.00874720 14.13059640 0.00000000 3-A-2 30,371,000.00 963.16479701 0.00874716 14.13059629 0.00000000 4-A-1 211,868,000.00 958.03676478 1.31210121 38.00327350 0.00000000 B-1 16,152,000.00 993.34730931 1.13907008 0.00000000 0.00000000 B-2 7,753,000.00 993.34730943 1.13907004 0.00000000 0.00000000 B-3 5,168,000.00 993.34730844 1.13907121 0.00000000 0.00000000 B-4 1,938,000.00 993.34731166 1.13907121 0.00000000 0.00000000 B-5 1,938,000.00 993.34731166 1.13907121 0.00000000 0.00000000 B-6 2,584,620.00 993.34730831 1.13906880 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 64.63010107 722.39433823 0.72239434 64.63010107 1-A-2 0.00000000 64.63010101 722.39433817 0.72239434 64.63010101 1-A-3 0.00000000 64.63010336 722.39433592 0.72239434 64.63010336 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 59.16342183 866.79034158 0.86679034 59.16342183 2-A-2 0.00000000 59.16342181 866.79034162 0.86679034 59.16342181 2-A-3 0.00000000 284.57387118 359.26646882 0.35926647 284.57387118 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 284.57387142 359.26646882 0.35926647 284.57387142 2-A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3-A-1 0.00000000 14.13934360 949.02545360 0.94902545 14.13934360 3-A-2 0.00000000 14.13934345 949.02545356 0.94902545 14.13934345 4-A-1 0.00000000 39.31537471 918.72139006 0.91872139 39.31537471 B-1 0.00000000 1.13907008 992.20823861 0.99220824 1.13907008 B-2 0.00000000 1.13907004 992.20823939 0.99220824 1.13907004 B-3 0.00000000 1.13907121 992.20823916 0.99220824 1.13907121 B-4 0.00000000 1.13907121 992.20824045 0.99220824 1.13907121 B-5 0.00000000 1.13907121 992.20824045 0.99220824 1.13907121 B-6 0.00000000 1.13906880 992.20823951 0.99220824 1.13906880 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 3.42409% 169,210,254.45 482,825.94 0.00 0.00 1-A-2 68,409,000.00 3.94009% 53,839,554.87 176,777.24 0.00 0.00 1-A-3 1,935,000.00 3.94009% 1,522,892.29 5,000.28 0.00 0.00 1-A-R 50.00 3.54501% 0.00 0.00 0.00 0.00 1-A-MR 25.00 3.54501% 0.00 0.00 0.00 0.00 1-A-LR 25.00 3.54501% 0.00 0.00 0.00 0.00 2-A-1 240,000,000.00 4.19700% 222,228,903.22 777,245.41 0.00 0.00 2-A-2 210,000,000.00 4.51100% 194,450,290.32 730,970.89 0.00 0.00 2-A-3 17,000,000.00 1.65600% 10,945,285.78 15,104.49 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 4.30000% 27,165,000.00 97,341.23 0.00 0.00 2-A-8 70,403,000.00 4.30000% 70,403,000.00 252,277.36 0.00 0.00 2-A-9 30,596,000.00 3.41400% 19,698,939.05 56,043.48 0.00 0.00 2-A-IO 0.00 0.97622% 114,415,224.83 93,078.45 0.00 0.00 3-A-1 50,000,000.00 4.12635% 48,158,239.86 165,598.04 0.00 0.00 3-A-2 30,371,000.00 4.72535% 29,252,278.05 115,189.32 0.00 0.00 4-A-1 211,868,000.00 4.65992% 202,977,333.28 788,215.72 0.00 0.00 B-1 16,152,000.00 4.20994% 16,044,545.74 56,288.81 0.00 0.00 B-2 7,753,000.00 4.20994% 7,701,421.69 27,018.77 0.00 0.00 B-3 5,168,000.00 4.20994% 5,133,618.89 18,010.19 0.00 0.00 B-4 1,938,000.00 4.20994% 1,925,107.09 6,753.82 0.00 0.00 B-5 1,938,000.00 4.20994% 1,925,107.09 6,753.82 0.00 0.00 B-6 2,584,620.00 4.20994% 2,567,425.32 9,007.26 0.00 0.00 1-IO 0.00 0.30479% 232,571,409.33 59,071.78 0.00 0.00 2-IO 0.00 0.00115% 647,743,535.63 618.06 0.00 0.00 3-IO 0.00 0.01565% 79,683,853.10 1,038.94 0.00 0.00 SES 0.00 0.00000% 1,168,920,197.72 0.00 0.00 0.00 Totals 1,292,051,720.00 4,185,990.67 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 0.00 0.00 482,825.94 0.00 155,314,782.72 1-A-2 0.00 0.00 176,777.24 0.00 49,418,274.28 1-A-3 0.00 0.00 5,000.28 0.00 1,397,833.04 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 0.74 0.00 0.00 2-A-1 0.00 0.00 777,245.41 0.00 208,029,681.98 2-A-2 0.00 0.00 730,970.89 0.00 182,025,971.74 2-A-3 0.00 0.00 15,104.49 0.00 6,107,529.97 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 97,341.23 0.00 27,165,000.00 2-A-8 0.00 0.00 252,277.36 0.00 70,403,000.00 2-A-9 0.00 0.00 56,043.48 0.00 10,992,116.88 2-A-IO 0.00 0.00 93,078.45 0.00 100,870,646.85 3-A-1 0.00 0.00 165,598.04 0.00 47,451,272.68 3-A-2 0.00 0.00 115,189.32 0.00 28,822,852.05 4-A-1 0.00 0.00 788,215.72 0.00 194,647,663.47 B-1 0.00 0.00 56,288.81 0.00 16,026,147.47 B-2 0.00 0.00 27,018.77 0.00 7,692,590.48 B-3 0.00 0.00 18,010.19 0.00 5,127,732.18 B-4 0.00 0.00 6,753.82 0.00 1,922,899.57 B-5 0.00 0.00 6,753.82 0.00 1,922,899.57 B-6 0.00 0.00 9,007.26 0.00 2,564,481.26 1-IO 0.00 0.00 59,071.78 0.00 214,117,594.01 2-IO 0.00 0.00 618.06 0.00 607,555,107.78 3-IO 0.00 0.00 1,038.94 0.00 78,547,439.27 SES 0.00 0.00 245,500.76 0.00 1,100,803,730.08 Totals 0.00 0.00 4,431,492.17 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 3.42409% 787.02443930 2.24570205 0.00000000 0.00000000 1-A-2 68,409,000.00 3.94009% 787.02443933 2.58412256 0.00000000 0.00000000 1-A-3 1,935,000.00 3.94009% 787.02443928 2.58412403 0.00000000 0.00000000 1-A-R 50.00 3.54501% 0.00000000 0.00000000 0.00000000 0.00000000 1-A-MR 25.00 3.54501% 0.00000000 0.00000000 0.00000000 0.00000000 1-A-LR 25.00 3.54501% 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 240,000,000.00 4.19700% 925.95376342 3.23852254 0.00000000 0.00000000 2-A-2 210,000,000.00 4.51100% 925.95376343 3.48081376 0.00000000 0.00000000 2-A-3 17,000,000.00 1.65600% 643.84034000 0.88849941 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 4.30000% 1000.00000000 3.58333260 0.00000000 0.00000000 2-A-8 70,403,000.00 4.30000% 1000.00000000 3.58333253 0.00000000 0.00000000 2-A-9 30,596,000.00 3.41400% 643.84034024 1.83172572 0.00000000 0.00000000 2-A-IO 0.00 0.97622% 870.95864890 0.70853753 0.00000000 0.00000000 3-A-1 50,000,000.00 4.12635% 963.16479720 3.31196080 0.00000000 0.00000000 3-A-2 30,371,000.00 4.72535% 963.16479701 3.79274044 0.00000000 0.00000000 4-A-1 211,868,000.00 4.65992% 958.03676478 3.72031510 0.00000000 0.00000000 B-1 16,152,000.00 4.20994% 993.34730931 3.48494366 0.00000000 0.00000000 B-2 7,753,000.00 4.20994% 993.34730943 3.48494389 0.00000000 0.00000000 B-3 5,168,000.00 4.20994% 993.34730844 3.48494389 0.00000000 0.00000000 B-4 1,938,000.00 4.20994% 993.34731166 3.48494324 0.00000000 0.00000000 B-5 1,938,000.00 4.20994% 993.34731166 3.48494324 0.00000000 0.00000000 B-6 2,584,620.00 4.20994% 993.34730831 3.48494556 0.00000000 0.00000000 1-IO 0.00 0.30479% 792.64071370 0.20132611 0.00000000 0.00000000 2-IO 0.00 0.00115% 927.82085327 0.00088530 0.00000000 0.00000000 3-IO 0.00 0.01565% 964.17707819 0.01257121 0.00000000 0.00000000 SES 0.00 0.00000% 904.70077859 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 0.00000000 0.00000000 2.24570205 0.00000000 722.39433823 1-A-2 0.00000000 0.00000000 2.58412256 0.00000000 722.39433817 1-A-3 0.00000000 0.00000000 2.58412403 0.00000000 722.39433592 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 29.60000000 0.00000000 0.00000000 2-A-1 0.00000000 0.00000000 3.23852254 0.00000000 866.79034158 2-A-2 0.00000000 0.00000000 3.48081376 0.00000000 866.79034162 2-A-3 0.00000000 0.00000000 0.88849941 0.00000000 359.26646882 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 3.58333260 0.00000000 1000.00000000 2-A-8 0.00000000 0.00000000 3.58333253 0.00000000 1000.00000000 2-A-9 0.00000000 0.00000000 1.83172572 0.00000000 359.26646882 2-A-IO 0.00000000 0.00000000 0.70853753 0.00000000 767.85377492 3-A-1 0.00000000 0.00000000 3.31196080 0.00000000 949.02545360 3-A-2 0.00000000 0.00000000 3.79274044 0.00000000 949.02545356 4-A-1 0.00000000 0.00000000 3.72031510 0.00000000 918.72139006 B-1 0.00000000 0.00000000 3.48494366 0.00000000 992.20823861 B-2 0.00000000 0.00000000 3.48494389 0.00000000 992.20823939 B-3 0.00000000 0.00000000 3.48494389 0.00000000 992.20823916 B-4 0.00000000 0.00000000 3.48494324 0.00000000 992.20824045 B-5 0.00000000 0.00000000 3.48494324 0.00000000 992.20824045 B-6 0.00000000 0.00000000 3.48494556 0.00000000 992.20823951 1-IO 0.00000000 0.00000000 0.20132611 0.00000000 729.74714743 2-IO 0.00000000 0.00000000 0.00088530 0.00000000 870.25538273 3-IO 0.00000000 0.00000000 0.01257121 0.00000000 950.42643583 SES 0.00000000 0.00000000 0.19000846 0.00000000 851.98116485 <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% 232,571,409.33 214,117,594.01 0.00 0.00 72.97471474% 2-SES 0.00000% 647,743,535.63 607,555,107.78 0.00 0.00 87.02553827% 3-SES 0.00000% 79,683,853.10 78,547,439.27 0.00 0.00 95.04264358% 4-SES 0.00000% 208,921,399.66 200,583,589.02 0.00 0.00 92.07010525% CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT <s> <c> Beginning Balance 0.00 Deposits Payments of Interest and Principal 72,598,613.10 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 72,598,613.10 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 50,653.29 Payment of Interest and Principal 72,547,959.81 Total Withdrawals (Pool Distribution Amount) 72,598,613.10 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 48,705.01 Trustee Fee - Wells Fargo Bank, N.A. 1,948.28 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 50,653.29 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 1 0 0 1 693,176.95 0.00 0.00 693,176.95 30 Days 5 0 0 0 5 2,963,022.70 0.00 0.00 0.00 2,963,022.70 60 Days 1 0 0 0 1 992,989.29 0.00 0.00 0.00 992,989.29 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 6 1 0 0 7 3,956,011.99 693,176.95 0.00 0.00 4,649,188.94 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 0.046425% 0.000000% 0.000000% 0.046425% 0.062908% 0.000000% 0.000000% 0.062908% 30 Days 0.232126% 0.000000% 0.000000% 0.000000% 0.232126% 0.268904% 0.000000% 0.000000% 0.000000% 0.268904% 60 Days 0.046425% 0.000000% 0.000000% 0.000000% 0.046425% 0.090117% 0.000000% 0.000000% 0.000000% 0.090117% 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 0.278552% 0.046425% 0.000000% 0.000000% 0.324977% 0.359022% 0.062908% 0.000000% 0.000000% 0.421930% 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 1 0 0 1 693,176.95 0.00 0.00 693,176.95 30 Days 1 0 0 0 1 665,526.21 0.00 0.00 0.00 665,526.21 60 Days 1 0 0 0 1 992,989.29 0.00 0.00 0.00 992,989.29 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 1 0 0 3 1,658,515.50 693,176.95 0.00 0.00 2,351,692.45 0-29 Days 0.236407% 0.000000% 0.000000% 0.236407% 0.323327% 0.000000% 0.000000% 0.323327% 30 Days 0.236407% 0.000000% 0.000000% 0.000000% 0.236407% 0.310429% 0.000000% 0.000000% 0.000000% 0.310429% 60 Days 0.236407% 0.000000% 0.000000% 0.000000% 0.236407% 0.463172% 0.000000% 0.000000% 0.000000% 0.463172% 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 0.472813% 0.236407% 0.000000% 0.000000% 0.709220% 0.773601% 0.323327% 0.000000% 0.000000% 1.096928% <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 2 0 0 0 2 1,262,176.10 0.00 0.00 0.00 1,262,176.10 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 1,262,176.10 0.00 0.00 0.00 1,262,176.10 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.167224% 0.000000% 0.000000% 0.000000% 0.167224% 0.207554% 0.000000% 0.000000% 0.000000% 0.207554% 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 0.167224% 0.000000% 0.000000% 0.000000% 0.167224% 0.207554% 0.000000% 0.000000% 0.000000% 0.207554% <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 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% <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 1,035,320.39 0.00 0.00 0.00 1,035,320.39 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 1,035,320.39 0.00 0.00 0.00 1,035,320.39 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.507614% 0.000000% 0.000000% 0.000000% 0.507614% 0.515518% 0.000000% 0.000000% 0.000000% 0.515518% 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 0.507614% 0.000000% 0.000000% 0.000000% 0.507614% 0.515518% 0.000000% 0.000000% 0.000000% 0.515518% OTHER INFORMATION <s> <c> Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 18,279.32 COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.574161% Weighted Average Net Coupon 4.324161% Weighted Average Pass-Through Rate 4.297291% Weighted Average Maturity(Stepdown Calculation ) 349 Beginning Scheduled Collateral Loan Count 2,270 Number Of Loans Paid In Full 116 Ending Scheduled Collateral Loan Count 2,154 Beginning Scheduled Collateral Balance 1,168,920,197.72 Ending Scheduled Collateral Balance 1,100,803,730.08 Ending Actual Collateral Balance at 30-Apr-2004 1,101,887,195.80 Monthly P &I Constant 5,781,032.33 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 1,100,803,730.08 Scheduled Principal 1,325,341.50 Unscheduled Principal 66,791,126.14 Miscellaneous Reporting Total Senior % 96.980356% Aggregate Subordinate % 3.019644% Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.233090 4.581999 4.620348 Weighted Average Net Rate 3.983090 4.331999 4.370348 Weighted Average Maturity 349 350 349 Beginning Loan Count 455 1,263 143 Loans Paid In Full 32 67 2 Ending Loan Count 423 1,196 141 Beginning Scheduled Balance 232,571,409.33 647,743,535.63 79,683,853.10 Ending scheduled Balance 214,117,594.01 607,555,107.78 78,547,439.27 Record Date 04/30/2004 04/30/2004 04/30/2004 Principal And Interest Constant 1,169,435.91 3,162,762.10 307,529.60 Scheduled Principal 349,022.84 689,461.90 723.67 Unscheduled Principal 18,104,792.48 39,498,965.95 1,135,690.16 Scheduled Interest 820,413.07 2,473,300.20 306,805.93 Servicing Fees 48,452.34 134,946.59 16,600.76 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 387.65 1,079.59 132.86 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 24,226.20 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 747,346.88 2,337,274.02 290,072.31 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 3.856090 4.329999 4.368348 Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.911924 4.574161 Weighted Average Net Rate 4.661923 4.324161 Weighted Average Maturity 347 349 Beginning Loan Count 409 2,270 Loans Paid In Full 15 116 Ending Loan Count 394 2,154 Beginning Scheduled Balance 208,921,399.66 1,168,920,197.72 Ending scheduled Balance 200,583,589.02 1,100,803,730.08 Record Date 04/30/2004 04/30/2004 Principal And Interest Constant 1,141,304.72 5,781,032.33 Scheduled Principal 286,133.09 1,325,341.50 Unscheduled Principal 8,051,677.55 66,791,126.14 Scheduled Interest 855,171.63 4,455,690.83 Servicing Fees 43,525.32 243,525.01 Master Servicing Fees 0.00 0.00 Trustee Fee 348.18 1,948.28 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 24,226.20 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 811,298.13 4,185,991.34 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 4.659924 4.297291 Miscellaneous Reporting Group Group 1 CPR 62.244585% Senior % 96.560752% Senior Prepayment % 100.000000% Subordinate % 3.439248% Subordinate Prepayment % 0.000000% Group Group 2 CPR 53.038581% Senior % 97.054217% Senior Prepayment % 100.000000% Subordinate % 2.945783% Subordinate Prepayment % 0.000000% Group Group 3 CPR 15.824096% Senior % 97.147057% Senior Prepayment % 100.000000% Subordinate % 2.852943% Subordinate Prepayment % 0.000000% Miscellaneous Reporting Group Group 4 CPR 37.642008% Senior % 97.154879% Senior Prepayment % 100.000000% Subordinate % 2.845121% Subordinate Prepayment % 0.000000%