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): September 27, 2004
BANC OF AMERICA ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2003-3 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-101500-12 54-2105564
Pooling and Servicing Agreement) (Commission 54-2105565
(State or other File Number) IRS EIN
jurisdiction
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)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
On September 27, 2004 a distribution was made to holders of BANC OF AMERICA
ALTERNATIVE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2003-3
Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Mortgage Pass-Through Certificates,
Series 2003-3 Trust, relating to the
September 27, 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 ALTERNATIVE LOAN TRUST
Mortgage Pass-Through Certificates, Series 2003-3 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Trustee
By: /s/ Beth Belfield as Assistant Vice President
By: Beth Belfield as Assistant Vice President
Date: 9/27/2004
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 2003-3 Trust,
relating to the September 27, 2004 distribution.
EX-99.1
Banc of America Alternative Loan Trust
Mortgage Pass-Through Certificates
Record Date: 8/31/2004
Distribution Date: 9/27/2004
BAA 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 05948KBS7 SEN 5.50000% 160,004,388.91 733,353.48 4,968,506.91
A-2 05948KBT5 SEN 2.16500% 14,545,853.03 26,243.14 451,682.43
A-3 05948KBU2 SEN 6.33500% 0.00 76,789.99 0.00
A-4 05948KBV0 SEN 5.75000% 2,586,444.75 12,393.38 (12,393.38)
A-5 05948KBW8 SEN 5.75000% 30,000,000.00 143,750.01 0.00
A-PO 05948KCA5 SEN 0.00000% 1,009,552.88 0.00 28,507.04
A-WIO 05948KBZ1 SEN 0.35933% 0.00 47,950.45 0.00
B-1 05948KCB3 SUB 5.75000% 6,657,854.98 31,902.22 7,277.89
B-2 05948KCC1 SUB 5.75000% 2,959,046.66 14,178.77 3,234.62
B-3 05948KCD9 SUB 5.75000% 1,478,539.60 7,084.67 1,616.23
B-4 05948KCE7 SUB 5.75000% 1,479,523.33 7,089.38 1,617.31
B-5 05948KCF4 SUB 5.75000% 1,035,863.08 4,963.51 1,132.33
B-6 05948KCG2 SUB 5.75000% 1,184,261.32 5,674.59 1,294.55
A-R 05948KBX6 SEN 5.75000% 0.00 0.00 0.00
A-LR 05948KBY4 SEN 5.75000% 0.00 0.00 0.00
SES 05948KCH0 SEN 0.00000% 0.00 39,965.77 0.00
Totals 222,941,328.54 1,151,339.36 5,452,475.93
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 155,035,882.01 5,701,860.39 0.00
A-2 0.00 14,094,170.60 477,925.57 0.00
A-3 0.00 0.00 76,789.99 0.00
A-4 0.00 2,598,838.13 0.00 0.00
A-5 0.00 30,000,000.00 143,750.01 0.00
A-PO 0.00 981,045.85 28,507.04 0.00
A-WIO 0.00 0.00 47,950.45 0.00
B-1 0.00 6,650,577.09 39,180.11 0.00
B-2 0.00 2,955,812.04 17,413.39 0.00
B-3 0.00 1,476,923.37 8,700.90 0.00
B-4 0.00 1,477,906.02 8,706.69 0.00
B-5 0.00 1,034,730.74 6,095.84 0.00
B-6 0.00 1,182,966.77 6,969.14 0.00
A-R 0.00 0.00 0.00 0.00
A-LR 0.00 0.00 0.00 0.00
SES 0.00 0.00 39,965.77 0.00
Totals 0.00 217,488,852.62 6,603,815.29 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-1 231,136,584.00 160,004,388.91 208,033.68 4,760,473.22 0.00 0.00
A-2 21,012,416.00 14,545,853.03 18,912.15 432,770.28 0.00 0.00
A-3 0.00 0.00 0.00 0.00 0.00 0.00
A-4 2,396,000.00 2,586,444.75 0.00 0.00 (12,393.38) 0.00
A-5 30,000,000.00 30,000,000.00 0.00 0.00 0.00 0.00
A-PO 1,205,932.77 1,009,552.88 1,277.35 27,229.69 0.00 0.00
A-WIO 0.00 0.00 0.00 0.00 0.00 0.00
B-1 6,768,000.00 6,657,854.98 7,277.89 0.00 0.00 0.00
B-2 3,008,000.00 2,959,046.66 3,234.62 0.00 0.00 0.00
B-3 1,503,000.00 1,478,539.60 1,616.23 0.00 0.00 0.00
B-4 1,504,000.00 1,479,523.33 1,617.31 0.00 0.00 0.00
B-5 1,053,000.00 1,035,863.08 1,132.33 0.00 0.00 0.00
B-6 1,203,853.29 1,184,261.32 1,294.55 0.00 0.00 0.00
A-R 50.00 0.00 0.00 0.00 0.00 0.00
A-LR 50.00 0.00 0.00 0.00 0.00 0.00
SES 0.00 0.00 0.00 0.00 0.00 0.00
Totals 300,790,886.06 222,941,328.54 244,396.11 5,220,473.19 (12,393.38) 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 4,968,506.91 155,035,882.01 0.67075441 4,968,506.91
A-2 451,682.43 14,094,170.60 0.67075441 451,682.43
A-3 0.00 0.00 0.00000000 0.00
A-4 (12,393.38) 2,598,838.13 1.08465698 (12,393.38)
A-5 0.00 30,000,000.00 1.00000000 0.00
A-PO 28,507.04 981,045.85 0.81351620 28,507.04
A-WIO 0.00 0.00 0.00000000 0.00
B-1 7,277.89 6,650,577.09 0.98265028 7,277.89
B-2 3,234.62 2,955,812.04 0.98265028 3,234.62
B-3 1,616.23 1,476,923.37 0.98265028 1,616.23
B-4 1,617.31 1,477,906.02 0.98265028 1,617.31
B-5 1,132.33 1,034,730.74 0.98265028 1,132.33
B-6 1,294.55 1,182,966.77 0.98265028 1,294.55
A-R 0.00 0.00 0.00000000 0.00
A-LR 0.00 0.00 0.00000000 0.00
SES 0.00 0.00 0.00000000 0.00
Totals 5,452,475.93 217,488,852.62 0.72305666 5,452,475.93
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-1 231,136,584.00 692.25038348 0.90004653 20.59593136 0.00000000
A-2 21,012,416.00 692.25038330 0.90004643 20.59593147 0.00000000
A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-4 2,396,000.00 1079.48445326 0.00000000 0.00000000 (5.17252922)
A-5 30,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-PO 1,205,932.77 837.15519232 1.05922157 22.57977449 0.00000000
A-WIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 6,768,000.00 983.72561761 1.07533836 0.00000000 0.00000000
B-2 3,008,000.00 983.72561835 1.07533910 0.00000000 0.00000000
B-3 1,503,000.00 983.72561544 1.07533599 0.00000000 0.00000000
B-4 1,504,000.00 983.72561835 1.07533910 0.00000000 0.00000000
B-5 1,053,000.00 983.72562203 1.07533713 0.00000000 0.00000000
B-6 1,203,853.29 983.72561660 1.07533867 0.00000000 0.00000000
A-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000
A-LR 50.00 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>
A-1 0.00000000 21.49597794 670.75440559 0.67075441 21.49597794
A-2 0.00000000 21.49597790 670.75440540 0.67075441 21.49597790
A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-4 0.00000000 (5.17252922) 1,084.65698247 1.08465698 (5.17252922)
A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-PO 0.00000000 23.63899606 813.51620456 0.81351620 23.63899606
A-WIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1.07533836 982.65027926 0.98265028 1.07533836
B-2 0.00000000 1.07533910 982.65027926 0.98265028 1.07533910
B-3 0.00000000 1.07533599 982.65027944 0.98265028 1.07533599
B-4 0.00000000 1.07533910 982.65027926 0.98265028 1.07533910
B-5 0.00000000 1.07533713 982.65027540 0.98265028 1.07533713
B-6 0.00000000 1.07533867 982.65027793 0.98265028 1.07533867
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-LR 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>
A-1 231,136,584.00 5.50000% 160,004,388.91 733,353.45 0.00 0.00
A-2 21,012,416.00 2.16500% 14,545,853.03 26,243.14 0.00 0.00
A-3 0.00 6.33500% 14,545,853.03 76,789.98 0.00 0.00
A-4 2,396,000.00 5.75000% 2,586,444.75 12,393.38 0.00 0.00
A-5 30,000,000.00 5.75000% 30,000,000.00 143,750.00 0.00 0.00
A-PO 1,205,932.77 0.00000% 1,009,552.88 0.00 0.00 0.00
A-WIO 0.00 0.35933% 160,133,504.17 47,950.44 0.00 0.00
B-1 6,768,000.00 5.75000% 6,657,854.98 31,902.22 0.00 0.00
B-2 3,008,000.00 5.75000% 2,959,046.66 14,178.77 0.00 0.00
B-3 1,503,000.00 5.75000% 1,478,539.60 7,084.67 0.00 0.00
B-4 1,504,000.00 5.75000% 1,479,523.33 7,089.38 0.00 0.00
B-5 1,053,000.00 5.75000% 1,035,863.08 4,963.51 0.00 0.00
B-6 1,203,853.29 5.75000% 1,184,261.32 5,674.59 0.00 0.00
A-R 50.00 5.75000% 0.00 0.00 0.00 0.00
A-LR 50.00 5.75000% 0.00 0.00 0.00 0.00
SES 0.00 0.00000% 222,941,328.55 0.00 0.00 0.00
Totals 300,790,886.06 1,111,373.53 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 (0.04) 0.00 733,353.48 0.00 155,035,882.01
A-2 0.00 0.00 26,243.14 0.00 14,094,170.60
A-3 0.00 0.00 76,789.99 0.00 14,094,170.60
A-4 0.00 0.00 12,393.38 0.00 2,598,838.13
A-5 (0.01) 0.00 143,750.01 0.00 30,000,000.00
A-PO 0.00 0.00 0.00 0.00 981,045.85
A-WIO 0.00 0.00 47,950.45 0.00 156,060,488.70
B-1 0.00 0.00 31,902.22 0.00 6,650,577.09
B-2 0.00 0.00 14,178.77 0.00 2,955,812.04
B-3 0.00 0.00 7,084.67 0.00 1,476,923.37
B-4 0.00 0.00 7,089.38 0.00 1,477,906.02
B-5 0.00 0.00 4,963.51 0.00 1,034,730.74
B-6 0.00 0.00 5,674.59 0.00 1,182,966.77
A-R 0.00 0.00 0.00 0.00 0.00
A-LR 0.00 0.00 0.00 0.00 0.00
SES 0.00 0.00 39,965.77 0.00 217,488,852.63
Totals (0.05) 0.00 1,151,339.36 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-1 231,136,584.00 5.50000% 692.25038348 3.17281426 0.00000000 0.00000000
A-2 21,012,416.00 2.16500% 692.25038330 1.24893492 0.00000000 0.00000000
A-3 0.00 6.33500% 692.25038330 3.65450503 0.00000000 0.00000000
A-4 2,396,000.00 5.75000% 1079.48445326 5.17252922 0.00000000 0.00000000
A-5 30,000,000.00 5.75000% 1000.00000000 4.79166667 0.00000000 0.00000000
A-PO 1,205,932.77 0.00000% 837.15519232 0.00000000 0.00000000 0.00000000
A-WIO 0.00 0.35933% 726.64038476 0.21758549 0.00000000 0.00000000
B-1 6,768,000.00 5.75000% 983.72561761 4.71368499 0.00000000 0.00000000
B-2 3,008,000.00 5.75000% 983.72561835 4.71368684 0.00000000 0.00000000
B-3 1,503,000.00 5.75000% 983.72561544 4.71368596 0.00000000 0.00000000
B-4 1,504,000.00 5.75000% 983.72561835 4.71368351 0.00000000 0.00000000
B-5 1,053,000.00 5.75000% 983.72562203 4.71368471 0.00000000 0.00000000
B-6 1,203,853.29 5.75000% 983.72561660 4.71368899 0.00000000 0.00000000
A-R 50.00 5.75000% 0.00000000 0.00000000 0.00000000 0.00000000
A-LR 50.00 5.75000% 0.00000000 0.00000000 0.00000000 0.00000000
SES 0.00 0.00000% 741.18378875 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>
A-1 (0.00000017) 0.00000000 3.17281439 0.00000000 670.75440559
A-2 0.00000000 0.00000000 1.24893492 0.00000000 670.75440540
A-3 0.00000000 0.00000000 3.65450551 0.00000000 670.75440540
A-4 0.00000000 0.00000000 5.17252922 0.00000000 1084.65698247
A-5 (0.00000033) 0.00000000 4.79166700 0.00000000 1000.00000000
A-PO 0.00000000 0.00000000 0.00000000 0.00000000 813.51620456
A-WIO 0.00000000 0.00000000 0.21758553 0.00000000 708.15819677
B-1 0.00000000 0.00000000 4.71368499 0.00000000 982.65027926
B-2 0.00000000 0.00000000 4.71368684 0.00000000 982.65027926
B-3 0.00000000 0.00000000 4.71368596 0.00000000 982.65027944
B-4 0.00000000 0.00000000 4.71368351 0.00000000 982.65027926
B-5 0.00000000 0.00000000 4.71368471 0.00000000 982.65027540
B-6 0.00000000 0.00000000 4.71368899 0.00000000 982.65027793
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
SES 0.00000000 0.00000000 0.13286895 0.00000000 723.05665733
<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 6,614,497.89
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 6,614,497.89
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 10,682.60
Payment of Interest and Principal 6,603,815.29
Total Withdrawals (Pool Distribution Amount) 6,614,497.89
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 9,289.22
Trustee Fee 1,393.38
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 10,682.60
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 1 0 0 10
1,367,947.10 95,857.01 0.00 0.00 1,463,804.11
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 1 0 0 0 1
66,781.96 0.00 0.00 0.00 66,781.96
Totals 10 1 0 0 11
1,434,729.06 95,857.01 0.00 0.00 1,530,586.07
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 0.576184% 0.064020% 0.000000% 0.000000% 0.640205%
0.628395% 0.044034% 0.000000% 0.000000% 0.672429%
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 0.064020% 0.000000% 0.000000% 0.000000% 0.064020%
0.030678% 0.000000% 0.000000% 0.000000% 0.030678%
Totals 0.640205% 0.064020% 0.000000% 0.000000% 0.704225%
0.659072% 0.044034% 0.000000% 0.000000% 0.703106%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current
Original $ Original % Current $ Current % Class% Prepayment%
<s> <c> <c> <c> <c> <c> <c> <c>
Class B-5 298,534,032.77 99.24969359% 215,271,155.11 98.98031670% 0.477918% 7.001398%
Class B-4 297,030,032.77 98.74967844% 213,793,249.09 98.30078485% 0.682611% 10.000098%
Class B-3 295,527,032.77 98.24999575% 212,316,325.72 97.62170482% 0.682157% 9.993449%
Class B-2 292,519,032.77 97.24996545% 209,360,513.68 96.26264112% 1.365222% 20.000195%
Class B-1 285,751,032.77 94.99989728% 202,709,936.59 93.20474780% 3.071749% 45.000439%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
COLLATERAL STATEMENT
Collateral Description Fixed 15 & 30 Year
Weighted Average Gross Coupon 6.239559%
Weighted Average Pass-Through Rate 5.982060%
Weighted Average Maturity(Stepdown Calculation ) 341
Beginning Scheduled Collateral Loan Count 1,594
Number Of Loans Paid In Full 32
Ending Scheduled Collateral Loan Count 1,562
Beginning Scheduled Collateral Balance 222,941,328.55
Ending Scheduled Collateral Balance 217,488,852.63
Ending Actual Collateral Balance at 31-Aug-2004 217,689,128.69
Monthly P &I Constant 1,403,090.27
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Class A Optimal Amount 6,448,276.34
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 217,488,852.63
Scheduled Principal 243,877.20
Unscheduled Principal 5,208,598.72
Miscellaneous Reporting
Priority % 13.517668%
CPR 24.723215%
Senior % 93.333497%
Senior Prepayment % 100.000000%
Subordinate % 6.666503%
Subordinate Prepayment % 0.000000%