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): July 26, 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 July 26, 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
July 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-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: 7/26/04
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 July 26, 2004 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 6/30/04
Distribution Date: 7/26/04
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 3.32153% 165,278,845.55 457,482.69 4,922,622.23
1-A-R 05948XUU3 SEN 3.32182% 0.00 0.00 0.00
1-A-MR 05948XUV1 SEN 3.32182% 0.00 0.00 0.00
1-A-LR 05948XUW9 SEN 3.32182% 0.00 0.00 0.00
2-A-1 05948XUX7 SEN 1.58300% 13,412,599.06 17,693.45 10,906,517.78
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 4.21625% 86,608,000.00 304,300.56 0.00
2-A-6 05948XVC2 SEN 4.21625% 230,070,000.00 808,359.86 0.00
2-A-7 05948XVD0 SEN 3.75700% 50,000,000.00 156,541.67 0.00
2-A-IO 05948XVE8 IO 0.65860% 0.00 157,807.28 0.00
3-A-1 05948XVF5 SEN 4.55111% 150,234,298.13 569,777.10 2,735,710.78
B-1 05948XVG3 SUB 4.06240% 15,022,138.48 50,854.96 18,651.85
B-2 05948XVH1 SUB 4.06240% 7,210,784.78 24,410.92 8,953.08
B-3 05948XVJ7 SUB 4.06240% 4,806,530.25 16,271.71 5,967.90
B-4 05948XVK4 SUB 4.06240% 1,802,696.19 6,102.73 2,238.27
B-5 05948XVL2 SUB 4.06240% 1,802,696.19 6,102.73 2,238.27
B-6 05948XVM0 SUB 4.06240% 2,403,871.63 8,137.91 2,984.70
SES 05948XVN8 SEN 0.00000% 0.00 181,581.04 0.00
1-IO 05948XVP3 IO 0.44500% 0.00 64,057.97 0.00
Totals 952,772,460.26 3,507,697.11 18,605,884.86
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-A-1 0.00 160,356,223.32 5,380,104.92 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 2,506,081.27 10,924,211.23 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 86,608,000.00 304,300.56 0.00
2-A-6 0.00 230,070,000.00 808,359.86 0.00
2-A-7 0.00 50,000,000.00 156,541.67 0.00
2-A-IO 0.00 0.00 157,807.28 0.00
3-A-1 0.00 147,498,587.35 3,305,487.88 0.00
B-1 0.00 15,003,486.63 69,506.81 0.00
B-2 0.00 7,201,831.69 33,364.00 0.00
B-3 0.00 4,800,562.34 22,239.61 0.00
B-4 0.00 1,800,457.92 8,341.00 0.00
B-5 0.00 1,800,457.92 8,341.00 0.00
B-6 0.00 2,400,886.92 11,122.61 0.00
SES 0.00 0.00 181,581.04 0.00
1-IO 0.00 0.00 64,057.97 0.00
Totals 0.00 934,166,575.36 22,113,581.97 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-1 267,438,000.00 165,278,845.55 258,273.65 4,664,348.58 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 13,412,599.06 650,755.94 10,255,761.84 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-1 170,194,000.00 150,234,298.13 219,199.82 2,516,510.96 0.00 0.00
B-1 15,183,000.00 15,022,138.48 18,651.85 0.00 0.00 0.00
B-2 7,288,000.00 7,210,784.78 8,953.08 0.00 0.00 0.00
B-3 4,858,000.00 4,806,530.25 5,967.90 0.00 0.00 0.00
B-4 1,822,000.00 1,802,696.19 2,238.27 0.00 0.00 0.00
B-5 1,822,000.00 1,802,696.19 2,238.27 0.00 0.00 0.00
B-6 2,429,613.00 2,403,871.63 2,984.70 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 1,214,578,713.00 952,772,460.26 1,169,263.48 17,436,621.38 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
1-A-1 4,922,622.23 160,356,223.32 0.59960149 4,922,622.23
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 10,906,517.78 2,506,081.27 0.01640685 10,906,517.78
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 2,735,710.78 147,498,587.35 0.86664975 2,735,710.78
B-1 18,651.85 15,003,486.63 0.98817669 18,651.85
B-2 8,953.08 7,201,831.69 0.98817669 8,953.08
B-3 5,967.90 4,800,562.34 0.98817669 5,967.90
B-4 2,238.27 1,800,457.92 0.98817668 2,238.27
B-5 2,238.27 1,800,457.92 0.98817668 2,238.27
B-6 2,984.70 2,400,886.92 0.98817668 2,984.70
SES 0.00 0.00 0.00000000 0.00
1-IO 0.00 0.00 0.00000000 0.00
Totals 18,605,884.86 934,166,575.36 0.76912807 18,605,884.86
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-1 267,438,000.00 618.00808243 0.96573281 17.44085949 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 87.80982193 4.26037958 67.14258861 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-1 170,194,000.00 882.72382182 1.28794094 14.78613206 0.00000000
B-1 15,183,000.00 989.40515577 1.22846934 0.00000000 0.00000000
B-2 7,288,000.00 989.40515642 1.22846872 0.00000000 0.00000000
B-3 4,858,000.00 989.40515644 1.22846851 0.00000000 0.00000000
B-4 1,822,000.00 989.40515368 1.22846872 0.00000000 0.00000000
B-5 1,822,000.00 989.40515368 1.22846872 0.00000000 0.00000000
B-6 2,429,613.00 989.40515629 1.22846725 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 18.40659229 599.60149014 0.59960149 18.40659229
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 71.40296820 16.40685367 0.01640685 71.40296820
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 16.07407300 866.64974882 0.86664975 16.07407300
B-1 0.00000000 1.22846934 988.17668643 0.98817669 1.22846934
B-2 0.00000000 1.22846872 988.17668633 0.98817669 1.22846872
B-3 0.00000000 1.22846851 988.17668588 0.98817669 1.22846851
B-4 0.00000000 1.22846872 988.17668496 0.98817668 1.22846872
B-5 0.00000000 1.22846872 988.17668496 0.98817668 1.22846872
B-6 0.00000000 1.22846725 988.17668493 0.98817668 1.22846725
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 3.32153% 165,278,845.55 457,482.70 0.00 0.00
1-A-R 50.00 3.32182% 0.00 0.00 0.00 0.00
1-A-MR 25.00 3.32182% 0.00 0.00 0.00 0.00
1-A-LR 25.00 3.32182% 0.00 0.00 0.00 0.00
2-A-1 152,746,000.00 1.58300% 13,412,599.06 17,693.45 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 4.21625% 86,608,000.00 304,300.57 0.00 0.00
2-A-6 230,070,000.00 4.21625% 230,070,000.00 808,359.87 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 0.65860% 287,532,599.06 157,807.28 0.00 0.00
3-A-1 170,194,000.00 4.55111% 150,234,298.13 569,777.11 0.00 0.00
B-1 15,183,000.00 4.06240% 15,022,138.48 50,854.96 0.00 0.00
B-2 7,288,000.00 4.06240% 7,210,784.78 24,410.92 0.00 0.00
B-3 4,858,000.00 4.06240% 4,806,530.25 16,271.71 0.00 0.00
B-4 1,822,000.00 4.06240% 1,802,696.19 6,102.73 0.00 0.00
B-5 1,822,000.00 4.06240% 1,802,696.19 6,102.73 0.00 0.00
B-6 2,429,613.00 4.06240% 2,403,871.63 8,137.91 0.00 0.00
SES 0.00 0.00000% 952,772,461.05 0.00 0.00 0.00
1-IO 0.00 0.44500% 172,740,596.69 64,057.97 0.00 0.00
Totals 1,214,578,713.00 3,326,116.12 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 0.00 457,482.69 0.00 160,356,223.32
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 17,693.45 0.00 2,506,081.27
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 0.00 304,300.56 0.00 86,608,000.00
2-A-6 0.01 0.00 808,359.86 0.00 230,070,000.00
2-A-7 0.00 0.00 156,541.67 0.00 50,000,000.00
2-A-IO 0.00 0.00 157,807.28 0.00 276,626,081.27
3-A-1 0.00 0.00 569,777.10 0.00 147,498,587.35
B-1 0.00 0.00 50,854.96 0.00 15,003,486.63
B-2 0.00 0.00 24,410.92 0.00 7,201,831.69
B-3 0.00 0.00 16,271.71 0.00 4,800,562.34
B-4 0.00 0.00 6,102.73 0.00 1,800,457.92
B-5 0.00 0.00 6,102.73 0.00 1,800,457.92
B-6 0.00 0.00 8,137.91 0.00 2,400,886.92
SES 0.00 0.00 181,581.04 0.00 934,166,576.17
1-IO 0.00 0.00 64,057.97 0.00 167,806,314.32
Totals 0.02 0.00 3,507,697.11 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 3.32153% 618.00808243 1.71061218 0.00000000 0.00000000
1-A-R 50.00 3.32182% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-MR 25.00 3.32182% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 25.00 3.32182% 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 152,746,000.00 1.58300% 87.80982193 0.11583577 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 4.21625% 1000.00000000 3.51353882 0.00000000 0.00000000
2-A-6 230,070,000.00 4.21625% 1000.00000000 3.51353879 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 0.65860% 673.58983630 0.36968810 0.00000000 0.00000000
3-A-1 170,194,000.00 4.55111% 882.72382182 3.34780962 0.00000000 0.00000000
B-1 15,183,000.00 4.06240% 989.40515577 3.34946717 0.00000000 0.00000000
B-2 7,288,000.00 4.06240% 989.40515642 3.34946762 0.00000000 0.00000000
B-3 4,858,000.00 4.06240% 989.40515644 3.34946686 0.00000000 0.00000000
B-4 1,822,000.00 4.06240% 989.40515368 3.34946762 0.00000000 0.00000000
B-5 1,822,000.00 4.06240% 989.40515368 3.34946762 0.00000000 0.00000000
B-6 2,429,613.00 4.06240% 989.40515629 3.34946759 0.00000000 0.00000000
SES 0.00 0.00000% 767.38788324 0.00000000 0.00000000 0.00000000
1-IO 0.00 0.44500% 628.14524948 0.23293719 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 1.71061214 0.00000000 599.60149014
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 0.11583577 0.00000000 16.40685367
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 3.51353870 0.00000000 1000.00000000
2-A-6 0.00000004 0.00000000 3.51353875 0.00000000 1000.00000000
2-A-7 0.00000000 0.00000000 3.13083340 0.00000000 1000.00000000
2-A-IO 0.00000000 0.00000000 0.36968810 0.00000000 648.03962197
3-A-1 0.00000000 0.00000000 3.34780956 0.00000000 866.64974882
B-1 0.00000000 0.00000000 3.34946717 0.00000000 988.17668643
B-2 0.00000000 0.00000000 3.34946762 0.00000000 988.17668633
B-3 0.00000000 0.00000000 3.34946686 0.00000000 988.17668588
B-4 0.00000000 0.00000000 3.34946762 0.00000000 988.17668496
B-5 0.00000000 0.00000000 3.34946762 0.00000000 988.17668496
B-6 0.00000000 0.00000000 3.34946759 0.00000000 988.17668493
SES 0.00000000 0.00000000 0.14625012 0.00000000 752.40221646
1-IO 0.00000000 0.00000000 0.23293719 0.00000000 610.20247234
<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% 172,740,596.69 167,806,314.32 0.00 0.00 61.02024723%
SES-2 0.00000% 625,044,161.77 614,115,205.51 0.00 0.00 80.32164933%
SES-3 0.00000% 154,987,702.59 152,245,056.34 0.00 0.00 8.69967918%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 22,154,868.75
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 22,154,868.75
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 41,286.78
Payment of Interest and Principal 22,113,581.97
Total Withdrawals (Pool Distribution Amount) 22,154,868.75
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 39,698.85
Trustee Fee - Wells Fargo Bank, N.A. 1,587.93
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 41,286.78
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 9 0 0 0 9
4,397,808.79 0.00 0.00 0.00 4,397,808.79
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 9 0 0 0 9
4,397,808.79 0.00 0.00 0.00 4,397,808.79
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 0.498615% 0.000000% 0.000000% 0.000000% 0.498615%
0.470275% 0.000000% 0.000000% 0.000000% 0.470275%
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 0.498615% 0.000000% 0.000000% 0.000000% 0.498615%
0.470275% 0.000000% 0.000000% 0.000000% 0.470275%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
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 2 0 0 0 2
865,142.91 0.00 0.00 0.00 865,142.91
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
865,142.91 0.00 0.00 0.00 865,142.91
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.598802% 0.000000% 0.000000% 0.000000% 0.598802%
0.514855% 0.000000% 0.000000% 0.000000% 0.514855%
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 0.598802% 0.000000% 0.000000% 0.000000% 0.598802%
0.514855% 0.000000% 0.000000% 0.000000% 0.514855%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
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 7 0 0 0 7
3,532,665.88 0.00 0.00 0.00 3,532,665.88
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 7 0 0 0 7
3,532,665.88 0.00 0.00 0.00 3,532,665.88
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.599829% 0.000000% 0.000000% 0.000000% 0.599829%
0.574714% 0.000000% 0.000000% 0.000000% 0.574714%
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 0.599829% 0.000000% 0.000000% 0.000000% 0.599829%
0.574714% 0.000000% 0.000000% 0.000000% 0.574714%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
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%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 20,310.97
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 4.463847%
Weighted Average Net Coupon 4.191184%
Weighted Average Pass-Through Rate 4.189184%
Weighted Average Maturity(Stepdown Calculation ) 345
Beginning Scheduled Collateral Loan Count 1,837
Number Of Loans Paid In Full 32
Ending Scheduled Collateral Loan Count 1,805
Beginning Scheduled Collateral Balance 952,772,461.05
Ending Scheduled Collateral Balance 934,166,576.17
Ending Actual Collateral Balance at 30-Jun-2004 935,156,820.14
Monthly P &I Constant 4,713,455.63
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 934,166,576.17
Scheduled Principal 1,169,263.50
Unscheduled Principal 17,436,621.38
Miscellaneous Reporting
Total Senior % 96.531311%
Aggregate Subordinate % 3.468689%
Group Level Collateral Statement
Group 1 2 3
Collateral Description 3 Year LIBOR Arm 5 Year LIBOR Arm 7 Year LIBOR Arm
Weighted Average Coupon Rate 4.143534 4.468247 4.803108
Weighted Average Net Rate 3.768534 4.218246 4.553108
Weighted Average Maturity 346 347 344
Beginning Loan Count 344 1,184 309
Loans Paid In Full 10 17 5
Ending Loan Count 334 1,167 304
Beginning Scheduled Balance 172,740,596.69 625,044,161.77 154,987,702.59
Ending scheduled Balance 167,806,314.32 614,115,205.51 152,245,056.34
Record Date 06/30/2004 06/30/2004 06/30/2004
Principal And Interest Constant 866,397.51 3,000,570.59 846,487.53
Scheduled Principal 269,933.79 673,194.42 226,135.29
Unscheduled Principal 4,664,348.58 10,255,761.84 2,516,510.96
Scheduled Interest 596,463.72 2,327,376.17 620,352.24
Servicing Fees 35,987.64 130,217.57 32,289.11
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 287.90 1,041.73 258.30
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 17,993.80 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 542,194.38 2,196,116.87 587,804.83
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 3.766534 4.216246 4.551108
Group Level Collateral Statement
Group Total
Collateral Description Mixed ARM
Weighted Average Coupon Rate 4.463847
Weighted Average Net Rate 4.191184
Weighted Average Maturity 345
Beginning Loan Count 1,837
Loans Paid In Full 32
Ending Loan Count 1,805
Beginning Scheduled Balance 952,772,461.05
Ending scheduled Balance 934,166,576.17
Record Date 06/30/2004
Principal And Interest Constant 4,713,455.63
Scheduled Principal 1,169,263.50
Unscheduled Principal 17,436,621.38
Scheduled Interest 3,544,192.13
Servicing Fees 198,494.32
Master Servicing Fees 0.00
Trustee Fee 1,587.93
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 17,993.80
Pool Insurance Fee 0.00
Spread Fee 1 0.00
Spread Fee 2 0.00
Spread Fee 3 0.00
Net Interest 3,326,116.08
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 4.189184
Miscellaneous Reporting
Group 1
CPR 28.035752%
Senior % 95.680372%
Senior Prepayment % 100.000000%
Subordinate % 4.319628%
Subordinate Prepayment % 0.000000%
Group 2
CPR 18.024174%
Senior % 96.666865%
Senior Prepayment % 100.000000%
Subordinate % 3.333135%
Subordinate Prepayment % 0.000000%
Group 3
CPR 17.858816%
Senior % 96.933044%
Senior Prepayment % 100.000000%
Subordinate % 3.066956%
Subordinate Prepayment % 0.000000%