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): October 25, 2004
BANC OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2003-I Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-105940-10 54-2126355
Pooling and Servicing Agreement) (Commission 54-2126356
(State or other File Number) 54-2126357
jurisdiction IRS EIN
of Incorporation)
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
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 October 25, 2004 a distribution was made to holders of BANC OF AMERICA
MORTGAGE SECURITIES, INC., Mortgage Pass-Through Certificates, Series 2003-I
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-I Trust, relating to the
October 25, 2004 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BANC OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 2003-I Trust
(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: 10/25/2004
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 October 25, 2004 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 9/30/2004
Distribution Date: 10/25/2004
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 3.30817% 143,565,200.54 395,781.19 5,157,898.66
1-A-R 05948XUU3 SEN 3.30954% 0.00 0.00 0.00
1-A-MR 05948XUV1 SEN 3.30954% 0.00 0.00 0.00
1-A-LR 05948XUW9 SEN 3.30954% 0.00 0.00 0.00
2-A-1 05948XUX7 SEN 1.58300% 0.00 0.00 0.00
2-A-2 05948XUY5 SEN 3.64700% 44,447,331.82 135,082.85 9,141,968.76
2-A-3 05948XUZ2 SEN 3.33500% 63,157,000.00 175,523.82 0.00
2-A-4 05948XVA6 SEN 3.82800% 89,485,000.00 285,457.14 0.00
2-A-5 05948XVB4 SEN 4.20919% 86,608,000.00 303,791.32 0.00
2-A-6 05948XVC2 SEN 4.20919% 230,070,000.00 807,007.09 0.00
2-A-7 05948XVD0 SEN 3.75700% 50,000,000.00 156,541.66 0.00
2-A-IO 05948XVE8 IO 0.55413% 0.00 114,099.63 0.00
3-A-1 05948XVF5 SEN 4.54408% 144,138,925.22 545,816.16 1,117,460.07
B-1 05948XVG3 SUB 4.05409% 14,965,737.27 50,560.38 19,064.68
B-2 05948XVH1 SUB 4.05409% 7,183,711.60 24,269.52 9,151.25
B-3 05948XVJ7 SUB 4.05409% 4,788,483.94 16,177.46 6,100.00
B-4 05948XVK4 SUB 4.05409% 1,795,927.90 6,067.38 2,287.81
B-5 05948XVL2 SUB 4.05409% 1,795,927.90 6,067.38 2,287.81
B-6 05948XVM0 SUB 4.05409% 2,394,846.20 8,090.77 3,050.77
SES 05948XVN8 SEN 0.00000% 0.00 168,870.74 0.00
1-IO 05948XVP3 IO 0.44500% 0.00 55,992.76 0.00
Totals 884,396,092.39 3,255,197.25 15,459,269.81
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-A-1 0.00 138,407,301.88 5,553,679.85 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 0.00 0.00 0.00
2-A-2 0.00 35,305,363.06 9,277,051.61 0.00
2-A-3 0.00 63,157,000.00 175,523.82 0.00
2-A-4 0.00 89,485,000.00 285,457.14 0.00
2-A-5 0.00 86,608,000.00 303,791.32 0.00
2-A-6 0.00 230,070,000.00 807,007.09 0.00
2-A-7 0.00 50,000,000.00 156,541.66 0.00
2-A-IO 0.00 0.00 114,099.63 0.00
3-A-1 0.00 143,021,465.15 1,663,276.23 0.00
B-1 0.00 14,946,672.59 69,625.06 0.00
B-2 0.00 7,174,560.35 33,420.77 0.00
B-3 0.00 4,782,383.94 22,277.46 0.00
B-4 0.00 1,793,640.09 8,355.19 0.00
B-5 0.00 1,793,640.09 8,355.19 0.00
B-6 0.00 2,391,795.43 11,141.54 0.00
SES 0.00 0.00 168,870.74 0.00
1-IO 0.00 0.00 55,992.76 0.00
Totals 0.00 868,936,822.58 18,714,467.06 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-1 267,438,000.00 143,565,200.54 230,435.80 4,927,462.86 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 0.00 0.00 0.00 0.00 0.00
2-A-2 71,478,000.00 44,447,331.82 622,657.08 8,519,311.68 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-1 170,194,000.00 144,138,925.22 215,860.86 901,599.21 0.00 0.00
B-1 15,183,000.00 14,965,737.27 19,064.68 0.00 0.00 0.00
B-2 7,288,000.00 7,183,711.60 9,151.25 0.00 0.00 0.00
B-3 4,858,000.00 4,788,483.94 6,100.00 0.00 0.00 0.00
B-4 1,822,000.00 1,795,927.90 2,287.81 0.00 0.00 0.00
B-5 1,822,000.00 1,795,927.90 2,287.81 0.00 0.00 0.00
B-6 2,429,613.00 2,394,846.20 3,050.77 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 1,214,578,713.00 884,396,092.39 1,110,896.06 14,348,373.75 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 5,157,898.66 138,407,301.88 0.51753043 5,157,898.66
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 0.00 0.00 0.00000000 0.00
2-A-2 9,141,968.76 35,305,363.06 0.49393328 9,141,968.76
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 1,117,460.07 143,021,465.15 0.84034376 1,117,460.07
B-1 19,064.68 14,946,672.59 0.98443474 19,064.68
B-2 9,151.25 7,174,560.35 0.98443474 9,151.25
B-3 6,100.00 4,782,383.94 0.98443473 6,100.00
B-4 2,287.81 1,793,640.09 0.98443474 2,287.81
B-5 2,287.81 1,793,640.09 0.98443474 2,287.81
B-6 3,050.77 2,391,795.43 0.98443474 3,050.77
SES 0.00 0.00 0.00000000 0.00
1-IO 0.00 0.00 0.00000000 0.00
Totals 15,459,269.81 868,936,822.58 0.71542240 15,459,269.81
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-1 267,438,000.00 536.81675955 0.86164195 18.42469230 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 0.00000000 0.00000000 0.00000000 0.00000000
2-A-2 71,478,000.00 621.83233750 8.71117099 119.18788550 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-1 170,194,000.00 846.90955745 1.26832239 5.29747941 0.00000000
B-1 15,183,000.00 985.69039518 1.25565962 0.00000000 0.00000000
B-2 7,288,000.00 985.69039517 1.25565999 0.00000000 0.00000000
B-3 4,858,000.00 985.69039522 1.25566077 0.00000000 0.00000000
B-4 1,822,000.00 985.69039517 1.25565862 0.00000000 0.00000000
B-5 1,822,000.00 985.69039517 1.25565862 0.00000000 0.00000000
B-6 2,429,613.00 985.69039596 1.25566088 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 19.28633425 517.53042529 0.51753043 19.28633425
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 0.00000000 0.00000000 0.00000000
2-A-2 0.00000000 127.89905649 493.93328101 0.49393328 127.89905649
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 6.56580179 840.34375566 0.84034376 6.56580179
B-1 0.00000000 1.25565962 984.43473556 0.98443474 1.25565962
B-2 0.00000000 1.25565999 984.43473518 0.98443474 1.25565999
B-3 0.00000000 1.25566077 984.43473446 0.98443473 1.25566077
B-4 0.00000000 1.25565862 984.43473655 0.98443474 1.25565862
B-5 0.00000000 1.25565862 984.43473655 0.98443474 1.25565862
B-6 0.00000000 1.25566088 984.43473508 0.98443474 1.25566088
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 3.30817% 143,565,200.54 395,781.20 0.00 0.00
1-A-R 50.00 3.30954% 0.00 0.00 0.00 0.00
1-A-MR 25.00 3.30954% 0.00 0.00 0.00 0.00
1-A-LR 25.00 3.30954% 0.00 0.00 0.00 0.00
2-A-1 152,746,000.00 1.58300% 0.00 0.00 0.00 0.00
2-A-2 71,478,000.00 3.64700% 44,447,331.82 135,082.85 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 4.20919% 86,608,000.00 303,791.33 0.00 0.00
2-A-6 230,070,000.00 4.20919% 230,070,000.00 807,007.11 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 0.55413% 247,089,331.82 114,099.63 0.00 0.00
3-A-1 170,194,000.00 4.54408% 144,138,925.22 545,816.18 0.00 0.00
B-1 15,183,000.00 4.05409% 14,965,737.27 50,560.38 0.00 0.00
B-2 7,288,000.00 4.05409% 7,183,711.60 24,269.52 0.00 0.00
B-3 4,858,000.00 4.05409% 4,788,483.94 16,177.46 0.00 0.00
B-4 1,822,000.00 4.05409% 1,795,927.90 6,067.38 0.00 0.00
B-5 1,822,000.00 4.05409% 1,795,927.90 6,067.38 0.00 0.00
B-6 2,429,613.00 4.05409% 2,394,846.20 8,090.77 0.00 0.00
SES 0.00 0.00000% 884,396,093.17 0.00 0.00 0.00
1-IO 0.00 0.44500% 150,991,702.23 55,992.76 0.00 0.00
Totals 1,214,578,713.00 3,086,326.60 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 0.00 395,781.19 0.00 138,407,301.88
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 0.00 0.00 0.00
2-A-2 0.00 0.00 135,082.85 0.00 35,305,363.06
2-A-3 0.01 0.00 175,523.82 0.00 63,157,000.00
2-A-4 0.01 0.00 285,457.14 0.00 89,485,000.00
2-A-5 0.01 0.00 303,791.32 0.00 86,608,000.00
2-A-6 0.02 0.00 807,007.09 0.00 230,070,000.00
2-A-7 0.00 0.00 156,541.66 0.00 50,000,000.00
2-A-IO 0.00 0.00 114,099.63 0.00 237,947,363.06
3-A-1 0.01 0.00 545,816.16 0.00 143,021,465.15
B-1 0.00 0.00 50,560.38 0.00 14,946,672.59
B-2 0.00 0.00 24,269.52 0.00 7,174,560.35
B-3 0.00 0.00 16,177.46 0.00 4,782,383.94
B-4 0.00 0.00 6,067.38 0.00 1,793,640.09
B-5 0.00 0.00 6,067.38 0.00 1,793,640.09
B-6 0.00 0.00 8,090.77 0.00 2,391,795.43
SES 0.00 0.00 168,870.74 0.00 868,936,823.37
1-IO 0.00 0.00 55,992.76 0.00 145,821,883.33
Totals 0.07 0.00 3,255,197.25 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 3.30817% 536.81675955 1.47989889 0.00000000 0.00000000
1-A-R 50.00 3.30954% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-MR 25.00 3.30954% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 25.00 3.30954% 0.00000000 0.00000000 0.00000000 0.00000000
2-A-1 152,746,000.00 1.58300% 0.00000000 0.00000000 0.00000000 0.00000000
2-A-2 71,478,000.00 3.64700% 621.83233750 1.88985212 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 4.20919% 1000.00000000 3.50765899 0.00000000 0.00000000
2-A-6 230,070,000.00 4.20919% 1000.00000000 3.50765902 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 0.55413% 578.84519221 0.26729613 0.00000000 0.00000000
3-A-1 170,194,000.00 4.54408% 846.90955745 3.20702363 0.00000000 0.00000000
B-1 15,183,000.00 4.05409% 985.69039518 3.33006520 0.00000000 0.00000000
B-2 7,288,000.00 4.05409% 985.69039517 3.33006586 0.00000000 0.00000000
B-3 4,858,000.00 4.05409% 985.69039522 3.33006587 0.00000000 0.00000000
B-4 1,822,000.00 4.05409% 985.69039517 3.33006586 0.00000000 0.00000000
B-5 1,822,000.00 4.05409% 985.69039517 3.33006586 0.00000000 0.00000000
B-6 2,429,613.00 4.05409% 985.69039596 3.33006532 0.00000000 0.00000000
SES 0.00 0.00000% 712.31576649 0.00000000 0.00000000 0.00000000
1-IO 0.00 0.44500% 549.05865954 0.20360927 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 1.47989886 0.00000000 517.53042529
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 0.00000000 0.00000000 0.00000000
2-A-2 0.00000000 0.00000000 1.88985212 0.00000000 493.93328101
2-A-3 0.00000016 0.00000000 2.77916652 0.00000000 1000.00000000
2-A-4 0.00000011 0.00000000 3.18999989 0.00000000 1000.00000000
2-A-5 0.00000012 0.00000000 3.50765888 0.00000000 1000.00000000
2-A-6 0.00000009 0.00000000 3.50765893 0.00000000 1000.00000000
2-A-7 0.00000000 0.00000000 3.13083320 0.00000000 1000.00000000
2-A-IO 0.00000000 0.00000000 0.26729613 0.00000000 557.42870845
3-A-1 0.00000006 0.00000000 3.20702351 0.00000000 840.34375566
B-1 0.00000000 0.00000000 3.33006520 0.00000000 984.43473556
B-2 0.00000000 0.00000000 3.33006586 0.00000000 984.43473518
B-3 0.00000000 0.00000000 3.33006587 0.00000000 984.43473446
B-4 0.00000000 0.00000000 3.33006586 0.00000000 984.43473655
B-5 0.00000000 0.00000000 3.33006586 0.00000000 984.43473655
B-6 0.00000000 0.00000000 3.33006532 0.00000000 984.43473508
SES 0.00000000 0.00000000 0.13601291 0.00000000 699.86446588
1-IO 0.00000000 0.00000000 0.20360927 0.00000000 530.25938916
<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% 150,991,702.23 145,821,883.33 0.00 0.00 53.02593892%
SES-2 0.00000% 584,533,030.31 575,368,126.72 0.00 0.00 75.25382289%
SES-3 0.00000% 148,871,360.63 147,746,813.32 0.00 0.00 8.44263785%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 18,754,790.86
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 18,754,790.86
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 38,323.80
Payment of Interest and Principal 18,716,467.06
Total Withdrawals (Pool Distribution Amount) 18,754,790.86
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 36,849.83
Trustee Fee - Wells Fargo Bank, N.A. 1,473.97
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 38,323.80
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 11 0 0 0 11
6,917,339.06 0.00 0.00 0.00 6,917,339.06
60 Days 2 0 0 0 2
933,826.42 0.00 0.00 0.00 933,826.42
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 13 0 0 0 13
7,851,165.48 0.00 0.00 0.00 7,851,165.48
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 0.652819% 0.000000% 0.000000% 0.000000% 0.652819%
0.795253% 0.000000% 0.000000% 0.000000% 0.795253%
60 Days 0.118694% 0.000000% 0.000000% 0.000000% 0.118694%
0.107358% 0.000000% 0.000000% 0.000000% 0.107358%
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 0.771513% 0.000000% 0.000000% 0.000000% 0.771513%
0.902611% 0.000000% 0.000000% 0.000000% 0.902611%
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 3 0 0 0 3
1,740,587.46 0.00 0.00 0.00 1,740,587.46
60 Days 1 0 0 0 1
469,108.34 0.00 0.00 0.00 469,108.34
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 4 0 0 0 4
2,209,695.80 0.00 0.00 0.00 2,209,695.80
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.038062% 0.000000% 0.000000% 0.000000% 1.038062%
1.192294% 0.000000% 0.000000% 0.000000% 1.192294%
60 Days 0.346021% 0.000000% 0.000000% 0.000000% 0.346021%
0.321337% 0.000000% 0.000000% 0.000000% 0.321337%
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 1.384083% 0.000000% 0.000000% 0.000000% 1.384083%
1.513631% 0.000000% 0.000000% 0.000000% 1.513631%
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 8 0 0 0 8
5,176,751.60 0.00 0.00 0.00 5,176,751.60
60 Days 1 0 0 0 1
464,718.08 0.00 0.00 0.00 464,718.08
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
5,641,469.68 0.00 0.00 0.00 5,641,469.68
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.726612% 0.000000% 0.000000% 0.000000% 0.726612%
0.898884% 0.000000% 0.000000% 0.000000% 0.898884%
60 Days 0.090827% 0.000000% 0.000000% 0.000000% 0.090827%
0.080693% 0.000000% 0.000000% 0.000000% 0.080693%
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 0.817439% 0.000000% 0.000000% 0.000000% 0.817439%
0.979577% 0.000000% 0.000000% 0.000000% 0.979577%
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 35,817.17
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 4.461048%
Weighted Average Net Coupon 4.189707%
Weighted Average Pass-Through Rate 4.187707%
Weighted Average Maturity(Stepdown Calculation) 342
Beginning Scheduled Collateral Loan Count 1,713
Number Of Loans Paid In Full 28
Ending Scheduled Collateral Loan Count 1,685
Beginning Scheduled Collateral Balance 884,396,093.17
Ending Scheduled Collateral Balance 868,936,823.37
Ending Actual Collateral Balance at 30-Sep-2004 869,828,339.67
Monthly P &I Constant 4,398,674.12
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 868,936,823.37
Scheduled Principal 1,110,896.05
Unscheduled Principal 14,348,373.75
Miscellaneous Reporting
Total Senior % 96.277162%
Aggregate Subordinate % 3.722838%
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 4.130165 4.461191 4.796084
Weighted Average Net Rate 3.755165 4.211191 4.546084
Weighted Average Maturity 343 344 341
Beginning Loan Count 299 1,117 297
Loans Paid In Full 10 16 2
Ending Loan Count 289 1,101 295
Beginning Scheduled Balance 150,991,702.23 584,533,030.31 148,871,360.63
Ending scheduled Balance 145,821,883.33 575,368,126.72 147,746,813.32
Record Date 09/30/2004 09/30/2004 09/30/2004
Principal And Interest Constant 762,039.97 2,818,686.40 817,947.75
Scheduled Principal 242,356.04 645,591.91 222,948.10
Unscheduled Principal 4,927,462.86 8,519,311.68 901,599.21
Scheduled Interest 519,683.93 2,173,094.49 594,999.65
Servicing Fees 31,456.60 121,777.72 31,014.91
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 251.67 974.20 248.10
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 15,728.32 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 472,247.34 2,050,342.57 563,736.64
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 3.753165 4.209191 4.544084
Group Level Collateral Statement
Group Total
Collateral Description Mixed ARM
Weighted Average Coupon Rate 4.461048
Weighted Average Net Rate 4.189707
Weighted Average Maturity 342
Beginning Loan Count 1,713
Loans Paid In Full 28
Ending Loan Count 1,685
Beginning Scheduled Balance 884,396,093.17
Ending scheduled Balance 868,936,823.37
Record Date 09/30/2004
Principal And Interest Constant 4,398,674.12
Scheduled Principal 1,110,896.05
Unscheduled Principal 14,348,373.75
Scheduled Interest 3,287,778.07
Servicing Fees 184,249.23
Master Servicing Fees 0.00
Trustee Fee 1,473.97
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 15,728.32
Pool Insurance Fee 0.00
Spread Fee 1 0.00
Spread Fee 2 0.00
Spread Fee 3 0.00
Net Interest 3,086,326.55
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 4.187707
Miscellaneous Reporting
Group 1
CPR 32.886917%
Senior % 95.081517%
Senior Prepayment % 100.000000%
Subordinate % 4.918483%
Subordinate Prepayment % 0.000000%
Group 2
CPR 16.169894%
Senior % 96.447472%
Senior Prepayment % 100.000000%
Subordinate % 3.552528%
Subordinate Prepayment % 0.000000%
Group 3
CPR 7.040418%
Senior % 96.821124%
Senior Prepayment % 100.000000%
Subordinate % 3.178876%
Subordinate Prepayment % 0.000000%