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): November 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)
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 November 26, 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
November 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
(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: 11/26/04
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 November 26, 2004 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 10/31/04
Distribution Date: 11/26/04
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 3.30954% 138,407,301.88 381,720.61 5,740,057.97
1-A-R 05948XUU3 SEN 3.30953% 0.00 0.00 0.00
1-A-MR 05948XUV1 SEN 3.30953% 0.00 0.00 0.00
1-A-LR 05948XUW9 SEN 3.30953% 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% 35,305,363.06 107,298.89 12,095,492.79
2-A-3 05948XUZ2 SEN 3.33500% 63,157,000.00 175,523.83 0.00
2-A-4 05948XVA6 SEN 3.82800% 89,485,000.00 285,457.16 0.00
2-A-5 05948XVB4 SEN 4.20659% 86,608,000.00 303,603.71 0.00
2-A-6 05948XVC2 SEN 4.20659% 230,070,000.00 806,508.69 0.00
2-A-7 05948XVD0 SEN 3.75700% 50,000,000.00 156,541.67 0.00
2-A-IO 05948XVE8 IO 0.55122% 0.00 109,301.18 0.00
3-A-1 05948XVF5 SEN 4.54267% 143,021,465.15 541,416.00 1,729,097.78
B-1 05948XVG3 SUB 4.05262% 14,946,672.59 50,477.59 19,244.96
B-2 05948XVH1 SUB 4.05262% 7,174,560.35 24,229.77 9,237.78
B-3 05948XVJ7 SUB 4.05262% 4,782,383.94 16,150.97 6,157.68
B-4 05948XVK4 SUB 4.05262% 1,793,640.09 6,057.44 2,309.45
B-5 05948XVL2 SUB 4.05262% 1,793,640.09 6,057.44 2,309.45
B-6 05948XVM0 SUB 4.05262% 2,391,795.43 8,077.52 3,079.62
SES 05948XVN8 SEN 0.00000% 0.00 165,994.07 0.00
1-IO 05948XVP3 IO 0.44500% 0.00 54,075.62 0.00
Totals 868,936,822.58 3,198,492.16 19,606,987.48
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-A-1 0.00 132,667,243.91 6,121,778.58 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 23,209,870.27 12,202,791.68 0.00
2-A-3 0.00 63,157,000.00 175,523.83 0.00
2-A-4 0.00 89,485,000.00 285,457.16 0.00
2-A-5 0.00 86,608,000.00 303,603.71 0.00
2-A-6 0.00 230,070,000.00 806,508.69 0.00
2-A-7 0.00 50,000,000.00 156,541.67 0.00
2-A-IO 0.00 0.00 109,301.18 0.00
3-A-1 0.00 141,292,367.37 2,270,513.78 0.00
B-1 0.00 14,927,427.63 69,722.55 0.00
B-2 0.00 7,165,322.57 33,467.55 0.00
B-3 0.00 4,776,226.27 22,308.65 0.00
B-4 0.00 1,791,330.64 8,366.89 0.00
B-5 0.00 1,791,330.64 8,366.89 0.00
B-6 0.00 2,388,715.81 11,157.14 0.00
SES 0.00 0.00 165,994.07 0.00
1-IO 0.00 0.00 54,075.62 0.00
Totals 0.00 849,329,835.11 22,805,479.64 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-1 267,438,000.00 138,407,301.88 224,834.82 5,515,223.15 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 35,305,363.06 619,542.02 11,475,950.77 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-1 170,194,000.00 143,021,465.15 215,613.23 1,513,484.55 0.00 0.00
B-1 15,183,000.00 14,946,672.59 19,244.96 0.00 0.00 0.00
B-2 7,288,000.00 7,174,560.35 9,237.78 0.00 0.00 0.00
B-3 4,858,000.00 4,782,383.94 6,157.68 0.00 0.00 0.00
B-4 1,822,000.00 1,793,640.09 2,309.45 0.00 0.00 0.00
B-5 1,822,000.00 1,793,640.09 2,309.45 0.00 0.00 0.00
B-6 2,429,613.00 2,391,795.43 3,079.62 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 1,214,578,713.00 868,936,822.58 1,102,329.01 18,504,658.47 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 5,740,057.97 132,667,243.91 0.49606729 5,740,057.97
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 12,095,492.79 23,209,870.27 0.32471348 12,095,492.79
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 1,729,097.78 141,292,367.37 0.83018419 1,729,097.78
B-1 19,244.96 14,927,427.63 0.98316720 19,244.96
B-2 9,237.78 7,165,322.57 0.98316720 9,237.78
B-3 6,157.68 4,776,226.27 0.98316720 6,157.68
B-4 2,309.45 1,791,330.64 0.98316720 2,309.45
B-5 2,309.45 1,791,330.64 0.98316720 2,309.45
B-6 3,079.62 2,388,715.81 0.98316720 3,079.62
SES 0.00 0.00 0.00000000 0.00
1-IO 0.00 0.00 0.00000000 0.00
Totals 19,606,987.48 849,329,835.11 0.69927937 19,606,987.48
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-1 267,438,000.00 517.53042529 0.84069885 20.62243642 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 71,478,000.00 493.93328101 8.66759031 160.55220865 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-1 170,194,000.00 840.34375566 1.26686740 8.89270215 0.00000000
B-1 15,183,000.00 984.43473556 1.26753343 0.00000000 0.00000000
B-2 7,288,000.00 984.43473518 1.26753293 0.00000000 0.00000000
B-3 4,858,000.00 984.43473446 1.26753396 0.00000000 0.00000000
B-4 1,822,000.00 984.43473655 1.26753568 0.00000000 0.00000000
B-5 1,822,000.00 984.43473655 1.26753568 0.00000000 0.00000000
B-6 2,429,613.00 984.43473508 1.26753520 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>
(2) All Classes are per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
1-A-1 0.00000000 21.46313527 496.06729003 0.49606729 21.46313527
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 169.21979896 324.71348205 0.32471348 169.21979896
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 10.15956955 830.18418611 0.83018419 10.15956955
B-1 0.00000000 1.26753343 983.16720213 0.98316720 1.26753343
B-2 0.00000000 1.26753293 983.16720225 0.98316720 1.26753293
B-3 0.00000000 1.26753396 983.16720255 0.98316720 1.26753396
B-4 0.00000000 1.26753568 983.16720088 0.98316720 1.26753568
B-5 0.00000000 1.26753568 983.16720088 0.98316720 1.26753568
B-6 0.00000000 1.26753520 983.16719988 0.98316720 1.26753520
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 3.30954% 138,407,301.88 381,720.60 0.00 0.00
1-A-R 50.00 3.30953% 0.00 0.00 0.00 0.00
1-A-MR 25.00 3.30953% 0.00 0.00 0.00 0.00
1-A-LR 25.00 3.30953% 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% 35,305,363.06 107,298.88 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 4.20659% 86,608,000.00 303,603.70 0.00 0.00
2-A-6 230,070,000.00 4.20659% 230,070,000.00 806,508.67 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 0.55122% 237,947,363.06 109,301.18 0.00 0.00
3-A-1 170,194,000.00 4.54267% 143,021,465.15 541,415.98 0.00 0.00
B-1 15,183,000.00 4.05262% 14,946,672.59 50,477.59 0.00 0.00
B-2 7,288,000.00 4.05262% 7,174,560.35 24,229.77 0.00 0.00
B-3 4,858,000.00 4.05262% 4,782,383.94 16,150.97 0.00 0.00
B-4 1,822,000.00 4.05262% 1,793,640.09 6,057.44 0.00 0.00
B-5 1,822,000.00 4.05262% 1,793,640.09 6,057.44 0.00 0.00
B-6 2,429,613.00 4.05262% 2,391,795.43 8,077.52 0.00 0.00
SES 0.00 0.00000% 868,936,823.37 0.00 0.00 0.00
1-IO 0.00 0.44500% 145,821,883.33 54,075.62 0.00 0.00
Totals 1,214,578,713.00 3,032,498.01 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) 0.00 381,720.61 0.00 132,667,243.91
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 0.00 107,298.89 0.00 23,209,870.27
2-A-3 0.00 0.00 175,523.83 0.00 63,157,000.00
2-A-4 (0.01) 0.00 285,457.16 0.00 89,485,000.00
2-A-5 (0.01) 0.00 303,603.71 0.00 86,608,000.00
2-A-6 (0.02) 0.00 806,508.69 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 0.00 109,301.18 0.00 225,851,870.27
3-A-1 (0.01) 0.00 541,416.00 0.00 141,292,367.37
B-1 0.00 0.00 50,477.59 0.00 14,927,427.63
B-2 0.00 0.00 24,229.77 0.00 7,165,322.57
B-3 0.00 0.00 16,150.97 0.00 4,776,226.27
B-4 0.00 0.00 6,057.44 0.00 1,791,330.64
B-5 0.00 0.00 6,057.44 0.00 1,791,330.64
B-6 0.00 0.00 8,077.52 0.00 2,388,715.81
SES 0.00 0.00 165,994.07 0.00 849,329,835.90
1-IO 0.00 0.00 54,075.62 0.00 140,069,780.79
Totals (0.06) 0.00 3,198,492.16 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 3.30954% 517.53042529 1.42732372 0.00000000 0.00000000
1-A-R 50.00 3.30953% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-MR 25.00 3.30953% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 25.00 3.30953% 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% 493.93328101 1.50114553 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 4.20659% 1000.00000000 3.50549256 0.00000000 0.00000000
2-A-6 230,070,000.00 4.20659% 1000.00000000 3.50549255 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 0.55122% 557.42870845 0.25605501 0.00000000 0.00000000
3-A-1 170,194,000.00 4.54267% 840.34375566 3.18116961 0.00000000 0.00000000
B-1 15,183,000.00 4.05262% 984.43473556 3.32461240 0.00000000 0.00000000
B-2 7,288,000.00 4.05262% 984.43473518 3.32461169 0.00000000 0.00000000
B-3 4,858,000.00 4.05262% 984.43473446 3.32461301 0.00000000 0.00000000
B-4 1,822,000.00 4.05262% 984.43473655 3.32461032 0.00000000 0.00000000
B-5 1,822,000.00 4.05262% 984.43473655 3.32461032 0.00000000 0.00000000
B-6 2,429,613.00 4.05262% 984.43473508 3.32461178 0.00000000 0.00000000
SES 0.00 0.00000% 699.86446588 0.00000000 0.00000000 0.00000000
1-IO 0.00 0.44500% 530.25938916 0.19663787 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 1.42732375 0.00000000 496.06729003
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 1.50114567 0.00000000 324.71348205
2-A-3 0.00000000 0.00000000 2.77916668 0.00000000 1000.00000000
2-A-4 (0.00000011) 0.00000000 3.19000011 0.00000000 1000.00000000
2-A-5 (0.00000012) 0.00000000 3.50549268 0.00000000 1000.00000000
2-A-6 (0.00000009) 0.00000000 3.50549263 0.00000000 1000.00000000
2-A-7 0.00000000 0.00000000 3.13083340 0.00000000 1000.00000000
2-A-IO 0.00000000 0.00000000 0.25605501 0.00000000 529.09313525
3-A-1 (0.00000006) 0.00000000 3.18116972 0.00000000 830.18418611
B-1 0.00000000 0.00000000 3.32461240 0.00000000 983.16720213
B-2 0.00000000 0.00000000 3.32461169 0.00000000 983.16720225
B-3 0.00000000 0.00000000 3.32461301 0.00000000 983.16720255
B-4 0.00000000 0.00000000 3.32461032 0.00000000 983.16720088
B-5 0.00000000 0.00000000 3.32461032 0.00000000 983.16720088
B-6 0.00000000 0.00000000 3.32461178 0.00000000 983.16719988
SES 0.00000000 0.00000000 0.13369597 0.00000000 684.07248487
1-IO 0.00000000 0.00000000 0.19663787 0.00000000 509.34273173
<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% 145,821,883.33 140,069,780.79 0.00 0.00 50.93427317%
SES-2 0.00000% 575,368,126.72 563,249,463.31 0.00 0.00 73.66879287%
SES-3 0.00000% 147,746,813.32 146,010,591.80 0.00 0.00 8.34342563%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 22,843,133.55
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 22,843,133.55
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 37,653.91
Payment of Interest and Principal 22,805,479.64
Total Withdrawals (Pool Distribution Amount) 22,843,133.55
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 36,205.70
Trustee Fee - Wells Fargo Bank, N.A. 1,448.21
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 37,653.91
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 7 0 0 0 7
3,135,734.49 0.00 0.00 0.00 3,135,734.49
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
3,135,734.49 0.00 0.00 0.00 3,135,734.49
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 0.424757% 0.000000% 0.000000% 0.000000% 0.424757%
0.368800% 0.000000% 0.000000% 0.000000% 0.368800%
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 0.424757% 0.000000% 0.000000% 0.000000% 0.424757%
0.368800% 0.000000% 0.000000% 0.000000% 0.368800%
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 1 0 0 0 1
319,310.28 0.00 0.00 0.00 319,310.28
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 1 0 0 0 1
319,310.28 0.00 0.00 0.00 319,310.28
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.361011% 0.000000% 0.000000% 0.000000% 0.361011%
0.227639% 0.000000% 0.000000% 0.000000% 0.227639%
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 0.361011% 0.000000% 0.000000% 0.000000% 0.361011%
0.227639% 0.000000% 0.000000% 0.000000% 0.227639%
<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 6 0 0 0 6
2,816,424.21 0.00 0.00 0.00 2,816,424.21
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 6 0 0 0 6
2,816,424.21 0.00 0.00 0.00 2,816,424.21
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.556070% 0.000000% 0.000000% 0.000000% 0.556070%
0.499556% 0.000000% 0.000000% 0.000000% 0.499556%
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 0.556070% 0.000000% 0.000000% 0.000000% 0.556070%
0.499556% 0.000000% 0.000000% 0.000000% 0.499556%
<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 21,121.39
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 4.460851%
Weighted Average Net Coupon 4.189874%
Weighted Average Pass-Through Rate 4.187874%
Weighted Average Maturity(Stepdown Calculation ) 341
Beginning Scheduled Collateral Loan Count 1,685
Number Of Loans Paid In Full 37
Ending Scheduled Collateral Loan Count 1,648
Beginning Scheduled Collateral Balance 868,936,823.37
Ending Scheduled Collateral Balance 849,329,835.90
Ending Actual Collateral Balance at 31-Oct-2004 850,253,457.69
Monthly P &I Constant 4,332,493.52
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 849,329,835.90
Scheduled Principal 1,102,329.00
Unscheduled Principal 18,504,658.47
<caption>
Miscellaneous Reporting
Total Senior % 96.215756%
Aggregate Subordinate % 3.784244%
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 4.131542 4.458591 4.794669
Weighted Average Net Rate 3.756542 4.208591 4.544670
Weighted Average Maturity 342 343 340
Beginning Loan Count 289 1,101 295
Loans Paid In Full 12 22 3
Ending Loan Count 277 1,079 292
Beginning Scheduled Balance 145,821,883.33 575,368,126.72 147,746,813.32
Ending scheduled Balance 140,069,780.79 563,249,463.31 146,010,591.80
Record Date 10/31/2004 10/31/2004 10/31/2004
Principal And Interest Constant 738,937.04 2,780,488.62 813,067.86
Scheduled Principal 236,879.39 642,712.64 222,736.97
Unscheduled Principal 5,515,223.15 11,475,950.77 1,513,484.55
Scheduled Interest 502,057.65 2,137,775.98 590,330.89
Servicing Fees 30,379.52 119,868.36 30,780.58
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 243.04 958.93 246.24
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 15,189.76 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 456,245.33 2,016,948.69 559,304.07
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 3.754543 4.206591 4.542669
Group Level Collateral Statement
Group Total
Collateral Description Mixed ARM
Weighted Average Coupon Rate 4.460851
Weighted Average Net Rate 4.189874
Weighted Average Maturity 341
Beginning Loan Count 1,685
Loans Paid In Full 37
Ending Loan Count 1,648
Beginning Scheduled Balance 868,936,823.37
Ending scheduled Balance 849,329,835.90
Record Date 10/31/2004
Principal And Interest Constant 4,332,493.52
Scheduled Principal 1,102,329.00
Unscheduled Principal 18,504,658.47
Scheduled Interest 3,230,164.52
Servicing Fees 181,028.46
Master Servicing Fees 0.00
Trustee Fee 1,448.21
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 15,189.76
Pool Insurance Fee 0.00
Spread Fee 1 0.00
Spread Fee 2 0.00
Spread Fee 3 0.00
Net Interest 3,032,498.09
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 4.187874
<caption>
Miscellaneous Reporting
Group 1
CPR 37.087973%
Senior % 94.915316%
Senior Prepayment % 100.000000%
Subordinate % 5.084684%
Subordinate Prepayment % 0.000000%
Group 2
CPR 21.497296%
Senior % 96.394871%
Senior Prepayment % 100.000000%
Subordinate % 3.605129%
Subordinate Prepayment % 0.000000%
Group 3
CPR 11.639638%
Senior % 96.801726%
Senior Prepayment % 100.000000%
Subordinate % 3.198274%
Subordinate Prepayment % 0.000000%