UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
Form 8-K/A
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 26, 2004
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset-Backed Certificates, Series 2003-3 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-91334-10 54-2126363
Pooling and Servicing Agreement) (Commission 54-2126364
(State or other File Number) 54-2126362
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
Subsequent to filing the 8-K relating to the payment date on January 26, 2004,
a revision was made to the BEAR STEARNS ASSET BACKED SECURITIES TRUST,
Asset-Backed Certificates, Series 2003-3 which was not included in the
original 8-K filed. This revision was not previously disclosed in a 1934 Act
filing. An Amended 8-k is being filed due to a revision to the three month
rolling delinquency percentage. The revised data has been and will continue to
be available on the Wells Fargo Bank, Minnesota, as Securities Administrator,
website at www.ctslink.com.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1 Amended monthly report distributed to
holders of Asset-Backed Certificates,
Series 2003-3 Trust, relating to the
January 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.
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset-Backed Certificates, Series 2003-3 Trust
By: Wells Fargo Bank, N.A. as Securities Administrator
By: /s/ Beth Belfield as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 4/23/04
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Amended monthly report distributed to holders of
Asset-Backed Certificates, Series 2003-3 Trust,
relating to the January 26, 2004 distribution.
EX-99.1
Bear Stearns Asset Backed Securities
Asset-Backed Certificates
Record Date: 12/31/03
Distribution Date: 1/26/04
BSA Series: 2003-3
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>
A-1 07384YLR5 SEN 1.34125% 169,753,884.70 196,059.84 6,759,607.39
A-IO 07384YLT1 SEN 5.00000% 0.00 114,770.83 0.00
A-2 07384YLS3 SEN 1.73125% 43,840,000.00 65,356.61 0.00
M-1 07384YLU8 MEZ 1.96125% 16,527,000.00 27,911.69 0.00
M-2 07384YLV6 MEZ 3.14125% 15,150,000.00 40,980.22 0.00
B 07384YLW4 SUB 4.64125% 9,641,000.00 38,531.53 0.00
B-IO 07384YMZ6 SUB 0.00000% 0.00 0.00 0.00
R-1 07384YLX2 RES 0.00000% 0.00 0.00 0.00
R-2 07384YLY0 RES 0.00000% 0.00 0.00 0.00
R-3 07384YLZ7 RES 0.00000% 0.00 0.00 0.00
OC BSA0303OC OC 0.00000% 2,929,199.28 0.00 0.00
Totals 257,841,083.98 483,610.72 6,759,607.39
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 162,994,277.31 6,955,667.23 0.00
A-IO 0.00 0.00 114,770.83 0.00
A-2 0.00 43,840,000.00 65,356.61 0.00
M-1 0.00 16,527,000.00 27,911.69 0.00
M-2 0.00 15,150,000.00 40,980.22 0.00
B 0.00 9,641,000.00 38,531.53 0.00
B-IO 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00
OC 0.00 4,290,297.97 0.00 0.00
Totals 0.00 252,442,575.28 7,243,218.11 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
A-1 190,296,000.00 169,753,884.70 0.00 6,759,607.39 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
A-2 43,840,000.00 43,840,000.00 0.00 0.00 0.00 0.00
M-1 16,527,000.00 16,527,000.00 0.00 0.00 0.00 0.00
M-2 15,150,000.00 15,150,000.00 0.00 0.00 0.00 0.00
B 9,641,000.00 9,641,000.00 0.00 0.00 0.00 0.00
B-IO 0.00 0.00 0.00 0.00 0.00 0.00
R-1 50.00 0.00 0.00 0.00 0.00 0.00
R-2 50.00 0.00 0.00 0.00 0.00 0.00
R-3 50.00 0.00 0.00 0.00 0.00 0.00
OC 359.01 2,929,199.28 0.00 0.00 0.00 0.00
Totals 275,454,509.01 257,841,083.98 0.00 6,759,607.39 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
A-1 6,759,607.39 162,994,277.31 0.85653023 6,759,607.39
A-IO 0.00 0.00 0.00000000 0.00
A-2 0.00 43,840,000.00 1.00000000 0.00
M-1 0.00 16,527,000.00 1.00000000 0.00
M-2 0.00 15,150,000.00 1.00000000 0.00
B 0.00 9,641,000.00 1.00000000 0.00
B-IO 0.00 0.00 0.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
R-3 0.00 0.00 0.00000000 0.00
OC 0.00 4,290,297.97 11,950.35784519 0.00
Totals 6,759,607.39 252,442,575.28 0.91645832 6,759,607.39
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
A-1 190,296,000.00 892.05177565 0.00000000 35.52154218 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-2 43,840,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 16,527,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 15,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 9,641,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000
R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000
R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000
OC 359.01 8159102.19771037 0.00000000 0.00000000 0.00000000
<FN>
All Classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 35.52154218 856.53023348 0.85653023 35.52154218
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 11,950,357.84518540 11950.35784519 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 190,296,000.00 1.34125% 169,753,884.70 196,059.84 0.00 0.00
A-IO 0.00 5.00000% 27,545,000.00 114,770.83 0.00 0.00
A-2 43,840,000.00 1.73125% 43,840,000.00 65,356.61 0.00 0.00
M-1 16,527,000.00 1.96125% 16,527,000.00 27,911.69 0.00 0.00
M-2 15,150,000.00 3.14125% 15,150,000.00 40,980.22 0.00 0.00
B 9,641,000.00 4.64125% 9,641,000.00 38,531.53 0.00 0.00
B-IO 0.00 0.00000% 257,841,083.98 0.00 0.00 0.00
R-1 50.00 0.00000% 0.00 0.00 0.00 0.00
R-2 50.00 0.00000% 0.00 0.00 0.00 0.00
R-3 50.00 0.00000% 0.00 0.00 0.00 0.00
OC 359.01 0.00000% 2,929,199.28 0.00 0.00 0.00
Totals 275,454,509.01 483,610.72 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00 0.00 196,059.84 0.00 162,994,277.31
A-IO 0.00 0.00 114,770.83 0.00 27,545,000.00
A-2 0.00 0.00 65,356.61 0.00 43,840,000.00
M-1 0.00 0.00 27,911.69 0.00 16,527,000.00
M-2 0.00 0.00 40,980.22 0.00 15,150,000.00
B 0.00 0.00 38,531.53 0.00 9,641,000.00
B-IO 0.00 0.00 0.00 0.00 252,442,575.28
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00
OC 0.00 0.00 0.00 0.00 4,290,297.97
Totals 0.00 0.00 483,610.72 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 190,296,000.00 1.34125% 892.05177565 1.03028881 0.00000000 0.00000000
A-IO 0.00 5.00000% 1000.00000000 4.16666655 0.00000000 0.00000000
A-2 43,840,000.00 1.73125% 1000.00000000 1.49079859 0.00000000 0.00000000
M-1 16,527,000.00 1.96125% 1000.00000000 1.68885400 0.00000000 0.00000000
M-2 15,150,000.00 3.14125% 1000.00000000 2.70496502 0.00000000 0.00000000
B 9,641,000.00 4.64125% 1000.00000000 3.99663209 0.00000000 0.00000000
B-IO 0.00 0.00000% 936.05737410 0.00000000 0.00000000 0.00000000
R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
OC 359.01 0.00000% 8159102.19771037 0.00000000 0.00000000 0.00000000
<FN>
All Classes are per $1,000 denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 0.00000000 1.03028881 0.00000000 856.53023348
A-IO 0.00000000 0.00000000 4.16666655 0.00000000 1000.00000000
A-2 0.00000000 0.00000000 1.49079859 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 1.68885400 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.70496502 0.00000000 1000.00000000
B 0.00000000 0.00000000 3.99663209 0.00000000 1000.00000000
B-IO 0.00000000 0.00000000 0.00000000 0.00000000 916.45881440
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
OC 0.00000000 0.00000000 0.00000000 0.00000000 11950357.84518540
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 7,358,569.78
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 293,284.90
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 0.00
Total Deposits 7,651,854.68
Withdrawals
Reimbursement for Servicer Advances 299,054.12
Payment of Service Fee 109,582.45
Payment of Interest and Principal 7,243,218.11
Total Withdrawals (Pool Distribution Amount) 7,651,854.68
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 107,433.81
Master Servicing Fee 2,148.64
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 109,582.45
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 0.00 0.00 0.00 0.00
Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 115 0 0 115
6,124,575.58 0.00 0.00 6,124,575.58
30 Days 237 14 0 0 251
14,528,413.24 984,741.02 0.00 0.00 15,513,154.26
60 Days 74 16 2 0 92
6,026,150.54 984,321.45 249,954.32 0.00 7,260,426.31
90 Days 36 8 5 0 49
2,367,187.03 363,106.79 246,995.62 0.00 2,977,289.44
120 Days 29 6 2 0 37
2,342,300.04 399,553.84 160,729.87 0.00 2,902,583.75
150 Days 16 4 0 0 20
1,475,593.59 232,659.97 0.00 0.00 1,708,253.56
180+ Days 20 0 6 0 26
1,650,638.98 0.00 581,337.37 0.00 2,231,976.35
Totals 412 163 15 0 590
28,390,283.42 9,088,958.65 1,239,017.18 0.00 38,718,259.25
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 3.008109% 0.000000% 0.000000% 3.008109%
2.421597% 0.000000% 0.000000% 2.421597%
30 Days 6.199320% 0.366205% 0.000000% 0.000000% 6.565524%
5.744391% 0.389357% 0.000000% 0.000000% 6.133748%
60 Days 1.935653% 0.418519% 0.052315% 0.000000% 2.406487%
2.382680% 0.389191% 0.098829% 0.000000% 2.870701%
90 Days 0.941669% 0.209260% 0.130787% 0.000000% 1.281716%
0.935962% 0.143569% 0.097660% 0.000000% 1.177191%
120 Days 0.758567% 0.156945% 0.052315% 0.000000% 0.967826%
0.926122% 0.157980% 0.063551% 0.000000% 1.147653%
150 Days 0.418519% 0.104630% 0.000000% 0.000000% 0.523149%
0.583435% 0.091991% 0.000000% 0.000000% 0.675427%
180+ Days 0.523149% 0.000000% 0.156945% 0.000000% 0.680094%
0.652646% 0.000000% 0.229855% 0.000000% 0.882501%
Totals 10.776877% 4.263667% 0.392362% 0.000000% 15.432906%
11.225237% 3.593684% 0.489895% 0.000000% 15.308816%
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 44 0 0 44
1,476,250.93 0.00 0.00 1,476,250.93
30 Days 95 7 0 0 102
4,071,411.27 498,280.73 0.00 0.00 4,569,692.00
60 Days 25 7 0 0 32
1,360,371.87 453,876.59 0.00 0.00 1,814,248.46
90 Days 14 5 3 0 22
792,550.56 133,611.26 68,609.72 0.00 994,771.54
120 Days 12 3 1 0 16
653,455.17 149,688.99 71,051.95 0.00 874,196.11
150 Days 8 2 0 0 10
585,788.88 131,619.99 0.00 0.00 717,408.87
180 Days 12 0 2 0 14
685,291.57 0.00 258,178.44 0.00 943,470.01
Totals 166 68 6 0 240
8,148,869.32 2,843,328.49 397,840.11 0.00 11,390,037.92
0-29 Days 2.369413% 0.000000% 0.000000% 2.369413%
1.338275% 0.000000% 0.000000% 1.338275%
30 Days 5.115778% 0.376952% 0.000000% 0.000000% 5.492730%
3.690883% 0.451710% 0.000000% 0.000000% 4.142593%
60 Days 1.346257% 0.376952% 0.000000% 0.000000% 1.723209%
1.233227% 0.411456% 0.000000% 0.000000% 1.644683%
90 Days 0.753904% 0.269251% 0.161551% 0.000000% 1.184707%
0.718476% 0.121123% 0.062197% 0.000000% 0.901797%
120 Days 0.646204% 0.161551% 0.053850% 0.000000% 0.861605%
0.592381% 0.135699% 0.064411% 0.000000% 0.792491%
150 Days 0.430802% 0.107701% 0.000000% 0.000000% 0.538503%
0.531039% 0.119318% 0.000000% 0.000000% 0.650357%
180 Days 0.646204% 0.000000% 0.107701% 0.000000% 0.753904%
0.621242% 0.000000% 0.234048% 0.000000% 0.855290%
Totals 8.939149% 3.661820% 0.323102% 0.000000% 12.924071%
7.387248% 2.577581% 0.360657% 0.000000% 10.325486%
<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 71 0 0 71
4,648,324.65 0.00 0.00 4,648,324.65
30 Days 142 7 0 0 149
10,457,001.97 486,460.29 0.00 0.00 10,943,462.26
60 Days 49 9 2 0 60
4,665,778.67 530,444.86 249,954.32 0.00 5,446,177.85
90 Days 22 3 2 0 27
1,574,636.47 229,495.53 178,385.90 0.00 1,982,517.90
120 Days 17 3 1 0 21
1,688,844.87 249,864.85 89,677.92 0.00 2,028,387.64
150 Days 8 2 0 0 10
889,804.71 101,039.98 0.00 0.00 990,844.69
180 Days 8 0 4 0 12
965,347.41 0.00 323,158.93 0.00 1,288,506.34
Totals 246 95 9 0 350
20,241,414.10 6,245,630.16 841,177.07 0.00 27,328,221.33
0-29 Days 3.611394% 0.000000% 0.000000% 3.611394%
3.259584% 0.000000% 0.000000% 3.259584%
30 Days 7.222787% 0.356053% 0.000000% 0.000000% 7.578840%
7.332852% 0.341125% 0.000000% 0.000000% 7.673977%
60 Days 2.492370% 0.457782% 0.101729% 0.000000% 3.051882%
3.271824% 0.371968% 0.175278% 0.000000% 3.819070%
90 Days 1.119023% 0.152594% 0.101729% 0.000000% 1.373347%
1.104196% 0.160931% 0.125091% 0.000000% 1.390218%
120 Days 0.864700% 0.152594% 0.050865% 0.000000% 1.068159%
1.184283% 0.175215% 0.062886% 0.000000% 1.422384%
150 Days 0.406918% 0.101729% 0.000000% 0.000000% 0.508647%
0.623965% 0.070853% 0.000000% 0.000000% 0.694818%
180 Days 0.406918% 0.000000% 0.203459% 0.000000% 0.610376%
0.676939% 0.000000% 0.226611% 0.000000% 0.903550%
Totals 12.512716% 4.832146% 0.457782% 0.000000% 17.802645%
14.194059% 4.379676% 0.589866% 0.000000% 19.163601%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 293,284.90
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 9.095332%
Weighted Average Net Coupon 8.595332%
Weighted Average Pass-Through Rate 8.585332%
Weighted Average Maturity(Stepdown Calculation ) 276
Beginning Scheduled Collateral Loan Count 3,887
Number Of Loans Paid In Full 64
Ending Scheduled Collateral Loan Count 3,823
Beginning Scheduled Collateral Balance 257,841,083.98
Ending Scheduled Collateral Balance 252,442,575.28
Ending Actual Collateral Balance at 31-Dec-2003 252,914,778.17
Monthly P &I Constant 2,306,161.56
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 252,442,575.28
Scheduled Principal 351,869.68
Unscheduled Principal 5,046,639.02
Required Overcollateralization Amount 8,539,085.13
Overcollateralized Increase Amount 1,361,098.69
Overcollateralized reduction Amount 0.00
Specified O/C Amount 8,539,085.13
Overcollateralized Amount 4,290,297.97
Overcollateralized Deficiency Amount 4,248,787.16
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 1,361,098.69
Excess Cash Amount 1,361,098.69
Miscellaneous Reporting
Three Month Rolling 0.06186006
Realized Loss % 0.000000%
Trigger Event NO
Yield Maintenance Amount 0.00
Group Level Collateral Statement
Group Group 1 Group 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed & Mixed ARM
Weighted Average Coupon Rate 9.247291 8.979045 9.095332
Weighted Average Net Rate 8.747291 8.479045 8.595332
Weighted Average Maturity 256 291 276
Beginning Loan Count 1,892 1,995 3,887
Loans Paid In Full 35 29 64
Ending Loan Count 1,857 1,966 3,823
Beginning Scheduled Balance 111,776,565.29 146,064,518.69 257,841,083.98
Ending scheduled Balance 110,070,728.83 142,371,846.45 252,442,575.28
Record Date 12/31/2003 12/31/2003 12/31/2003
Principal And Interest Constant 1,047,156.96 1,259,004.60 2,306,161.56
Scheduled Principal 185,798.30 166,071.38 351,869.68
Unscheduled Principal 1,520,038.16 3,526,600.86 5,046,639.02
Scheduled Interest 861,358.66 1,092,933.22 1,954,291.88
Servicing Fees 46,573.58 60,860.23 107,433.81
Master Servicing Fees 931.44 1,217.20 2,148.64
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 813,853.64 1,030,855.79 1,844,709.43
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 8.737291 8.469045 8.585332