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): December 27, 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
Pooling and Servicing Agreement) (Commission 54-2126355
(State or other File Number) 54-2126356
jurisdiction 54-2126357
of Incorporation) IRS EIN
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 December 27, 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
December 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 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: 12/27/2004
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 December 27, 2004 distribution.
EX-99.1
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 11/30/2004
Distribution Date: 12/27/2004
Banc of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
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 3.30953% 132,667,243.91 365,888.39 6,547,590.50
1-A-R 05948XUU3 SEN 3.30145% 0.00 0.00 0.00
1-A-MR 05948XUV1 SEN 3.30145% 0.00 0.00 0.00
1-A-LR 05948XUW9 SEN 3.30145% 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% 23,209,870.27 70,538.66 11,735,558.59
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 4.20232% 86,608,000.00 303,295.34 0.00
2-A-6 05948XVC2 SEN 4.20232% 230,070,000.00 805,689.53 0.00
2-A-7 05948XVD0 SEN 3.75700% 50,000,000.00 156,541.66 0.00
2-A-IO 05948XVE8 IO 0.54650% 0.00 102,856.62 0.00
3-A-1 05948XVF5 SEN 4.53983% 141,292,367.37 534,536.60 2,464,233.75
B-1 05948XVG3 SUB 4.04957% 14,927,427.63 50,374.67 19,310.14
B-2 05948XVH1 SUB 4.04957% 7,165,322.57 24,180.37 9,269.07
B-3 05948XVJ7 SUB 4.04957% 4,776,226.27 16,118.04 6,178.53
B-4 05948XVK4 SUB 4.04957% 1,791,330.64 6,045.09 2,317.27
B-5 05948XVL2 SUB 4.04957% 1,791,330.64 6,045.09 2,317.27
B-6 05948XVM0 SUB 4.04957% 2,388,715.81 8,061.05 3,090.05
SES 05948XVN8 SEN 0.00000% 0.00 161,542.94 0.00
1-IO 05948XVP3 IO 0.44500% 0.00 51,942.54 0.00
Totals 849,329,835.11 3,124,637.57 20,789,865.17
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
1-A-1 0.00 126,119,653.41 6,913,478.89 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 11,474,311.68 11,806,097.25 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 86,608,000.00 303,295.34 0.00
2-A-6 0.00 230,070,000.00 805,689.53 0.00
2-A-7 0.00 50,000,000.00 156,541.66 0.00
2-A-IO 0.00 0.00 102,856.62 0.00
3-A-1 0.00 138,828,133.62 2,998,770.35 0.00
B-1 0.00 14,908,117.49 69,684.81 0.00
B-2 0.00 7,156,053.50 33,449.44 0.00
B-3 0.00 4,770,047.74 22,296.57 0.00
B-4 0.00 1,789,013.37 8,362.36 0.00
B-5 0.00 1,789,013.37 8,362.36 0.00
B-6 0.00 2,385,625.77 11,151.10 0.00
SES 0.00 0.00 161,542.94 0.00
1-IO 0.00 0.00 51,942.54 0.00
Totals 0.00 828,539,969.95 23,914,502.74 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-1 267,438,000.00 132,667,243.91 215,323.64 6,332,266.86 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 23,209,870.27 610,046.26 11,125,512.33 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-1 170,194,000.00 141,292,367.37 214,702.89 2,249,530.86 0.00 0.00
B-1 15,183,000.00 14,927,427.63 19,310.14 0.00 0.00 0.00
B-2 7,288,000.00 7,165,322.57 9,269.07 0.00 0.00 0.00
B-3 4,858,000.00 4,776,226.27 6,178.53 0.00 0.00 0.00
B-4 1,822,000.00 1,791,330.64 2,317.27 0.00 0.00 0.00
B-5 1,822,000.00 1,791,330.64 2,317.27 0.00 0.00 0.00
B-6 2,429,613.00 2,388,715.81 3,090.05 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 1,214,578,713.00 849,329,835.11 1,082,555.12 19,707,310.05 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 6,547,590.50 126,119,653.41 0.47158464 6,547,590.50
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 11,735,558.59 11,474,311.68 0.16052928 11,735,558.59
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 2,464,233.75 138,828,133.62 0.81570522 2,464,233.75
B-1 19,310.14 14,908,117.49 0.98189538 19,310.14
B-2 9,269.07 7,156,053.50 0.98189538 9,269.07
B-3 6,178.53 4,770,047.74 0.98189538 6,178.53
B-4 2,317.27 1,789,013.37 0.98189537 2,317.27
B-5 2,317.27 1,789,013.37 0.98189537 2,317.27
B-6 3,090.05 2,385,625.77 0.98189538 3,090.05
SES 0.00 0.00 0.00000000 0.00
1-IO 0.00 0.00 0.00000000 0.00
Totals 20,789,865.17 828,539,969.95 0.68216243 20,789,865.17
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-1 267,438,000.00 496.06729003 0.80513480 23.67751352 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 71,478,000.00 324.71348205 8.53474160 155.64946319 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-1 170,194,000.00 830.18418611 1.26151856 13.21745103 0.00000000
B-1 15,183,000.00 983.16720213 1.27182638 0.00000000 0.00000000
B-2 7,288,000.00 983.16720225 1.27182629 0.00000000 0.00000000
B-3 4,858,000.00 983.16720255 1.27182585 0.00000000 0.00000000
B-4 1,822,000.00 983.16720088 1.27182766 0.00000000 0.00000000
B-5 1,822,000.00 983.16720088 1.27182766 0.00000000 0.00000000
B-6 2,429,613.00 983.16719988 1.27182806 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 24.48264831 471.58464171 0.47158464 24.48264831
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 164.18420479 160.52927726 0.16052928 164.18420479
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 14.47896959 815.70521652 0.81570522 14.47896959
B-1 0.00000000 1.27182638 981.89537575 0.98189538 1.27182638
B-2 0.00000000 1.27182629 981.89537596 0.98189538 1.27182629
B-3 0.00000000 1.27182585 981.89537670 0.98189538 1.27182585
B-4 0.00000000 1.27182766 981.89537322 0.98189537 1.27182766
B-5 0.00000000 1.27182766 981.89537322 0.98189537 1.27182766
B-6 0.00000000 1.27182806 981.89537593 0.98189538 1.27182806
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 3.30953% 132,667,243.91 365,888.39 0.00 0.00
1-A-R 50.00 3.30145% 0.00 0.00 0.00 0.00
1-A-MR 25.00 3.30145% 0.00 0.00 0.00 0.00
1-A-LR 25.00 3.30145% 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% 23,209,870.27 70,538.66 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 4.20232% 86,608,000.00 303,295.34 0.00 0.00
2-A-6 230,070,000.00 4.20232% 230,070,000.00 805,689.54 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 0.54650% 225,851,870.27 102,856.62 0.00 0.00
3-A-1 170,194,000.00 4.53983% 141,292,367.37 534,536.60 0.00 0.00
B-1 15,183,000.00 4.04957% 14,927,427.63 50,374.68 0.00 0.00
B-2 7,288,000.00 4.04957% 7,165,322.57 24,180.37 0.00 0.00
B-3 4,858,000.00 4.04957% 4,776,226.27 16,118.04 0.00 0.00
B-4 1,822,000.00 4.04957% 1,791,330.64 6,045.09 0.00 0.00
B-5 1,822,000.00 4.04957% 1,791,330.64 6,045.09 0.00 0.00
B-6 2,429,613.00 4.04957% 2,388,715.81 8,061.05 0.00 0.00
SES 0.00 0.00000% 849,329,835.90 0.00 0.00 0.00
1-IO 0.00 0.44500% 140,069,780.79 51,942.54 0.00 0.00
Totals 1,214,578,713.00 2,963,094.66 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 0.00 0.00 365,888.39 0.00 126,119,653.41
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 70,538.66 0.00 11,474,311.68
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 0.00 303,295.34 0.00 86,608,000.00
2-A-6 0.01 0.00 805,689.53 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 0.00 102,856.62 0.00 214,116,311.68
3-A-1 0.01 0.00 534,536.60 0.00 138,828,133.62
B-1 0.00 0.00 50,374.67 0.00 14,908,117.49
B-2 0.00 0.00 24,180.37 0.00 7,156,053.50
B-3 0.00 0.00 16,118.04 0.00 4,770,047.74
B-4 0.00 0.00 6,045.09 0.00 1,789,013.37
B-5 0.00 0.00 6,045.09 0.00 1,789,013.37
B-6 0.00 0.00 8,061.05 0.00 2,385,625.77
SES 0.00 0.00 161,542.94 0.00 828,539,970.74
1-IO 0.00 0.00 51,942.54 0.00 133,510,175.71
Totals 0.02 0.00 3,124,637.57 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 3.30953% 496.06729003 1.36812416 0.00000000 0.00000000
1-A-R 50.00 3.30145% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-MR 25.00 3.30145% 0.00000000 0.00000000 0.00000000 0.00000000
1-A-LR 25.00 3.30145% 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% 324.71348205 0.98685833 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 4.20232% 1000.00000000 3.50193215 0.00000000 0.00000000
2-A-6 230,070,000.00 4.20232% 1000.00000000 3.50193219 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 0.54650% 529.09313525 0.24095763 0.00000000 0.00000000
3-A-1 170,194,000.00 4.53983% 830.18418611 3.14074879 0.00000000 0.00000000
B-1 15,183,000.00 4.04957% 983.16720213 3.31783442 0.00000000 0.00000000
B-2 7,288,000.00 4.04957% 983.16720225 3.31783342 0.00000000 0.00000000
B-3 4,858,000.00 4.04957% 983.16720255 3.31783450 0.00000000 0.00000000
B-4 1,822,000.00 4.04957% 983.16720088 3.31783205 0.00000000 0.00000000
B-5 1,822,000.00 4.04957% 983.16720088 3.31783205 0.00000000 0.00000000
B-6 2,429,613.00 4.04957% 983.16719988 3.31783292 0.00000000 0.00000000
SES 0.00 0.00000% 684.07248487 0.00000000 0.00000000 0.00000000
1-IO 0.00 0.44500% 509.34273173 0.18888125 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 0.00000000 0.00000000 1.36812416 0.00000000 471.58464171
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 0.98685833 0.00000000 160.52927726
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 3.50193215 0.00000000 1000.00000000
2-A-6 0.00000004 0.00000000 3.50193215 0.00000000 1000.00000000
2-A-7 0.00000000 0.00000000 3.13083320 0.00000000 1000.00000000
2-A-IO 0.00000000 0.00000000 0.24095763 0.00000000 501.60076389
3-A-1 0.00000006 0.00000000 3.14074879 0.00000000 815.70521652
B-1 0.00000000 0.00000000 3.31783376 0.00000000 981.89537575
B-2 0.00000000 0.00000000 3.31783342 0.00000000 981.89537596
B-3 0.00000000 0.00000000 3.31783450 0.00000000 981.89537670
B-4 0.00000000 0.00000000 3.31783205 0.00000000 981.89537322
B-5 0.00000000 0.00000000 3.31783205 0.00000000 981.89537322
B-6 0.00000000 0.00000000 3.31783292 0.00000000 981.89537593
SES 0.00000000 0.00000000 0.13011091 0.00000000 667.32778320
1-IO 0.00000000 0.00000000 0.18888125 0.00000000 485.48971253
<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% 140,069,780.79 133,510,175.71 0.00 0.00 48.54897125%
SES-2 0.00000% 563,249,463.31 551,490,606.63 0.00 0.00 72.13082287%
SES-3 0.00000% 146,010,591.80 143,539,188.40 0.00 0.00 8.20220320%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 23,951,307.07
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 23,951,307.07
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 36,804.33
Payment of Interest and Principal 23,914,502.74
Total Withdrawals (Pool Distribution Amount) 23,951,307.07
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 35,388.74
Trustee Fee - Wells Fargo Bank, N.A. 1,415.59
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 36,804.33
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 4 0 0 0 4
2,533,217.32 0.00 0.00 0.00 2,533,217.32
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 4 0 0 0 4
2,533,217.32 0.00 0.00 0.00 2,533,217.32
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 0.248602% 0.000000% 0.000000% 0.000000% 0.248602%
0.305415% 0.000000% 0.000000% 0.000000% 0.305415%
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 0.248602% 0.000000% 0.000000% 0.000000% 0.248602%
0.305415% 0.000000% 0.000000% 0.000000% 0.305415%
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 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%
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 4 0 0 0 4
2,533,217.32 0.00 0.00 0.00 2,533,217.32
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 4 0 0 0 4
2,533,217.32 0.00 0.00 0.00 2,533,217.32
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.378788% 0.000000% 0.000000% 0.000000% 0.378788%
0.458910% 0.000000% 0.000000% 0.000000% 0.458910%
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 0.378788% 0.000000% 0.000000% 0.000000% 0.378788%
0.458910% 0.000000% 0.000000% 0.000000% 0.458910%
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 11,608.55
COLLATERAL STATEMENT
Collateral Description Mixed ARM
Weighted Average Gross Coupon 4.459108%
Weighted Average Net Coupon 4.188493%
Weighted Average Pass-Through Rate 4.186493%
Weighted Average Maturity (Stepdown Calculation) 340
Beginning Scheduled Collateral Loan Count 1,648
Number Of Loans Paid In Full 39
Ending Scheduled Collateral Loan Count 1,609
Beginning Scheduled Collateral Balance 849,329,835.90
Ending Scheduled Collateral Balance 828,539,970.74
Ending Actual Collateral Balance at 30-Nov-2004 829,435,027.39
Monthly P &I Constant 4,238,599.66
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 828,539,970.74
Scheduled Principal 1,082,555.11
Unscheduled Principal 19,707,310.05
Miscellaneous Reporting
Total Senior % 96.133380%
Aggregate Subordinate % 3.866620%
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 4.131529 4.454319 4.791834
Weighted Average Net Rate 3.756530 4.204318 4.541834
Weighted Average Maturity 341 342 339
Beginning Loan Count 277 1,079 292
Loans Paid In Full 12 23 4
Ending Loan Count 265 1,056 288
Beginning Scheduled Balance 140,069,780.79 563,249,463.31 146,010,591.80
Ending scheduled Balance 133,510,175.71 551,490,606.63 143,539,188.40
Record Date 11/30/2004 11/30/2004 11/30/2004
Principal And Interest Constant 709,590.17 2,724,088.16 804,921.33
Scheduled Principal 227,338.22 633,344.35 221,872.54
Unscheduled Principal 6,332,266.86 11,125,512.33 2,249,530.86
Scheduled Interest 482,251.95 2,090,743.81 583,048.79
Servicing Fees 29,181.20 117,343.69 30,418.87
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 233.46 938.78 243.35
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 14,590.59 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 438,246.70 1,972,461.34 552,386.57
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 3.754531 4.202318 4.539835
Group Level Collateral Statement
Group Total
Collateral Description Mixed ARM
Weighted Average Coupon Rate 4.459108
Weighted Average Net Rate 4.188493
Weighted Average Maturity 340
Beginning Loan Count 1,648
Loans Paid In Full 39
Ending Loan Count 1,609
Beginning Scheduled Balance 849,329,835.90
Ending scheduled Balance 828,539,970.74
Record Date 11/30/2004
Principal And Interest Constant 4,238,599.66
Scheduled Principal 1,082,555.11
Unscheduled Principal 19,707,310.05
Scheduled Interest 3,156,044.55
Servicing Fees 176,943.76
Master Servicing Fees 0.00
Trustee Fee 1,415.59
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 14,590.59
Pool Insurance Fee 0.00
Spread Fee 1 0.00
Spread Fee 2 0.00
Spread Fee 3 0.00
Net Interest 2,963,094.61
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 4.186493
Miscellaneous Reporting
Group 1
CPR 42.653833%
Senior % 94.715108%
Senior Prepayment % 100.000000%
Subordinate % 5.284892%
Subordinate Prepayment % 0.000000%
Group 2
CPR 21.311478%
Senior % 96.321418%
Senior Prepayment % 100.000000%
Subordinate % 3.678582%
Subordinate Prepayment % 0.000000%
Group 3
CPR 17.022798%
Senior % 96.768574%
Senior Prepayment % 100.000000%
Subordinate % 3.231426%
Subordinate Prepayment % 0.000000%