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 25, 2003
CWA
(Depositor)
(Issuer in respect of Asset Backed Certificates, Series 2003-02)
(Exact name of registrant as specified in charter)
Delaware 33-63714 95-4449516
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
, , N/A 91110-7137
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (818)-304-4428
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
Item 5. Other Events
CWA
Asset Backed Certificates
Series 2003-02
On November 25, 2003, The Bank of New York, as Trustee for CWA, Asset Backed
Certificates Series 2003-02, made a monthly distribution to Certificate holders
of principal and/or interest pursuant to the Pooling and Servicing Agreement,
dated as of April 1, 2003, among CWA as Depositor, Countrywide Home Loans,
Seller and Master Servicer and The Bank of New York, as Trustee.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Report to Holders of CWA, Asset Backed Certificates Series
2003-02 relating to the distribution date of November 25,
2003 prepared by The Bank of New York, as Trustee under the
Pooling and Servicing Agreement dated as of April 1, 2003.
SIGNATURES
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 thereunto duly authorized.
Dated: November 25, 2003
CWA
By: /s/ Courtney Bartholomew
------------------------------
Name: Courtney Bartholomew
Vice President
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated November 25, 2003
Payment Date: 11/25/03
------------------------------------------------------------
Countrywide Home Loans
Asset Backed Certificates, Series 2003-02
------------------------------------------------------------
Class Information Current Payment Information
- ----------------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru Principal Interest Total Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
- ----------------------------------------------------------------------------------------------------------------------------------
Senior 1A 660,422,154.24 1.230000% 16,830,355.67 676,932.71 17,507,288.38 0.00 0.00
2A1 210,245,148.41 1.190000% 14,864,595.56 208,493.11 15,073,088.67 0.00 0.00
2A2 46,533,000.00 2.306000% 0.00 89,420.92 89,420.92 0.00 0.00
2A3 151,668,000.00 2.859000% 0.00 361,349.01 361,349.01 0.00 0.00
2A4 69,083,000.00 3.951000% 0.00 227,455.78 227,455.78 0.00 0.00
2A5 71,721,000.00 4.907000% 0.00 293,279.12 293,279.12 0.00 0.00
2A6 72,500,000.00 4.261000% 0.00 257,435.42 257,435.42 0.00 0.00
3A 381,306,626.37 1.370000% 11,420,281.72 435,325.07 11,855,606.79 0.00 0.00
4A 110,072,533.74 3.871000% 2,103,132.17 355,075.65 2,458,207.82 0.00 0.00
P 100.00 0.000000% 0.00 428,755.64 428,755.64 0.00 0.00
C 1,983,051,462.76 0.000000% 0.00 6,337,806.93 6,337,806.93 0.00 0.00
Residual AR 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate M1 94,275,000.00 1.820000% 0.00 142,983.75 142,983.75 0.00 0.00
M2 78,563,000.00 2.770000% 0.00 181,349.59 181,349.59 0.00 0.00
M3 18,855,000.00 4.320000% 0.00 67,878.00 67,878.00 0.00 0.00
B 7,332,000.00 4.620000% 0.00 28,228.20 28,228.20 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 1,972,576,562.76 - 45,218,365.12 10,091,768.88 55,310,134.00 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A 643,591,798.57 0.00
2A1 195,380,552.85 0.00
2A2 46,533,000.00 0.00
2A3 151,668,000.00 0.00
2A4 69,083,000.00 0.00
2A5 71,721,000.00 0.00
2A6 72,500,000.00 0.00
3A 369,886,344.65 0.00
4A 107,969,401.57 0.00
P 100.00 0.00
C 1,937,833,097.64 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate M1 94,275,000.00 0.00
M2 78,563,000.00 0.00
M3 18,855,000.00 0.00
B 7,332,000.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 1,927,358,197.64 -
- --------------------------------------------------------------------------------
Payment Date: 11/25/03
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Countrywide Home Loans
Asset Backed Certificates, Series 2003-02
------------------------------------------------------------
Class Information Current Payment Information
Factors per $1,000
- ------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru CUSIP Principal Interest Ending Cert./
Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal.
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Senior 1A 660,422,154.24 1.230000% 126671YQ3 23.690545 0.952856 905.925043
2A1 210,245,148.41 1.190000% 126671YR1 60.766068 0.852314 798.710461
2A2 46,533,000.00 2.306000% 126671YS9 0.000000 1.921667 1,000.000000
2A3 151,668,000.00 2.859000% 126671YT7 0.000000 2.382500 1,000.000000
2A4 69,083,000.00 3.951000% 126671YU4 0.000000 3.292500 1,000.000000
2A5 71,721,000.00 4.907000% 126671YV2 0.000000 4.089167 1,000.000000
2A6 72,500,000.00 4.261000% 126671YW0 0.000000 3.550833 1,000.000000
3A 381,306,626.37 1.370000% 126671YX8 27.658309 1.054296 895.812472
4A 110,072,533.74 3.871000% 126671YY6 18.049693 3.047363 926.624856
P 100.00 0.000000% 126671A30 0.000000 4,287,556.400000 1,000.000000
C 1,983,051,462.76 0.000000% 126671A22 0.000000 3.025206 924.979911
Residual AR 0.00 0.000000% 126671A48 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate M1 94,275,000.00 1.820000% 126671YZ3 0.000000 1.516667 1,000.000000
M2 78,563,000.00 2.770000% 126671ZA7 0.000000 2.308333 1,000.000000
M3 18,855,000.00 4.320000% 126671ZC3 0.000000 3.600000 1,000.000000
B 7,332,000.00 4.620000% 126671ZB5 0.000000 3.850000 1,000.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 1,972,576,562.76 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
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Countrywide Home Loans
Asset Backed Certificates, Series 2003-02
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Prin balance 722,627,242.97 678,611,237.20 415,813,318.97
Loan count 4529 4496 1830
Avg loan rate 7.544581% 7.485057% 7.569022%
Prepay amount 16,256,937.02 14,196,859.08 11,076,880.09
Total
-----
Prin balance 120,781,298.50 1,937,833,097.64
Loan count 521 11376
Avg loan rate 7.359234% 7.52
Prepay amount 1,988,109.99 43,518,786.18
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FEES AND ADVANCES
- --------------------------------------------------------------------------------
Master serv fees 295,076.93 278,430.71 170,216.59
Sub servicer fees 0.00 97,969.57 12,062.62
Trustee fees 5,545.93 5,201.07 3,204.25
Agg advances N/A N/A N/A
Adv this period 0.00 96,091.62 118,257.64
Total
-----
Master serv fees 48,535.66 792,259.90
Sub servicer fees 12,057.68 122,089.87
Trustee fees 921.63 14,872.89
Agg advances N/A N/A
Adv this period 25,163.04 239,512.30
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LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Realized losses 0.00 0.00 0.00
Cumulative losses 0.00 0.00 0.00
Total
-----
Realized losses 0.00 0.00
Cumulative losses 0.00 0.00
Coverage Amounts
- ----------------
Bankruptcy 0.00 0.00 0.00
Fraud 15,699,999.78 14,499,994.96 9,124,997.70
Special Hazard 0.00 0.00 0.00
Total
-----
Bankruptcy 0.00 0.00
Fraud 2,574,947.77 41,899,940.21
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 89.910404% 100.000000% 1,773,551,562.76
-----------------------------------------------------------------------------
Junior 10.089596% 0.000000% 199,025,000.00
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 106 15,907,983.35
60 to 89 days 10 1,401,555.37
90 or more 11 1,361,454.36
Foreclosure 72 10,361,746.62
Totals: 199 29,032,739.70
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 0.00
Current Total Outstanding Number of Loans: 0
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 55,310,134.00 55,310,134.00
Principal remittance amount 45,218,365.12 45,218,365.12
Interest remittance amount 10,091,768.88 10,091,768.88