-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P0l9+wQFlZ6Q6rgIWp3kLBza2uggqjhoMNH6L87fXrlQnNO8qSum1eQcRmCGtwrA fMrvB6R74AYJ46dPQfFrsw== 0001056404-03-001535.txt : 20030905 0001056404-03-001535.hdr.sgml : 20030905 20030905151230 ACCESSION NUMBER: 0001056404-03-001535 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030825 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEAR STEARNS ARM TRUST MORTGAGE PASS THR CERTS SERIES 2002 1 CENTRAL INDEX KEY: 0001167863 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-51279-22 FILM NUMBER: 03883685 BUSINESS ADDRESS: STREET 1: 11000 BROKEN LAND PARKWAY CITY: COLUMBIA STATE: MD ZIP: 21044 BUSINESS PHONE: 4108842064 MAIL ADDRESS: STREET 1: 11000 BROKEN LAND PARKWAY CITY: COLUMBIA STATE: MD ZIP: 21044 8-K 1 bst02001.txt AUGUST 8-K 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): August 25, 2003 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-22 22-3844513 Pooling and Servicing Agreement) (Commission 22-3844518 (State or other File Number) 22-3844517 jurisdiction 22-3844514 of Incorporation) IRS EIN c/o Wells Fargo Bank Minnesota, 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) ITEM 5. Other Events On August 25, 2003 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2002-1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-1 Trust, relating to the August 25, 2003 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. BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/2/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-1 Trust, relating to the August 25, 2003 distribution. EX-99.1
Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 7/31/03 Distribution Date: 8/25/03 BST Series: 2002-1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, 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 I-A 07384MHZ8 SEN 4.70708% 77,051,190.77 302,238.67 2,089,883.00 II-A 07384MJA1 SEN 6.98000% 6,428,482.03 37,392.31 379,683.34 III-A 07384MJK9 SEN 5.31780% 10,521,685.96 46,626.82 767,452.15 R-IA BST0201RA RES 0.00000% 0.00 0.00 0.00 R-IB BST0201RB RES 0.00000% 0.00 0.00 0.00 R-II BST0201R2 RES 0.00000% 0.00 0.00 0.00 R-III 07384MJL7 RES 6.11878% 0.00 0.00 0.00 B-1 07384MJM5 SUB 5.14498% 1,518,566.48 6,510.83 6,234.67 B-2 07384MJN3 SUB 5.14498% 1,518,566.48 6,510.83 6,234.67 B-3 07384MJP8 SUB 5.14498% 1,138,854.63 4,882.82 4,675.72 B-4 07384MJQ6 SUB 5.14498% 531,502.95 2,278.81 2,182.15 B-5 07384MJR4 SUB 5.14498% 303,769.48 1,302.41 1,247.17 B-6 07384MJS2 SUB 5.14498% 235,357.15 1,009.09 929.91 Totals 99,247,975.93 408,752.59 3,258,522.78
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 74,961,307.77 2,392,121.67 0.00 II-A 0.00 6,048,798.69 417,075.65 0.00 III-A 0.00 9,754,233.81 814,078.97 0.00 R-IA 0.00 0.00 0.00 0.00 R-IB 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 B-1 0.00 1,512,331.81 12,745.50 0.00 B-2 0.00 1,512,331.81 12,745.50 0.00 B-3 0.00 1,134,178.92 9,558.54 0.00 B-4 0.00 529,320.80 4,460.96 0.00 B-5 0.00 302,522.32 2,549.58 0.00 B-6 36.38 234,390.86 1,939.00 70,509.72 Totals 36.38 95,989,416.79 3,667,275.37 70,509.72 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A 119,408,000.00 77,051,190.77 349,273.82 1,740,609.18 0.00 0.00 II-A 15,660,500.00 6,428,482.03 14,395.38 365,287.96 0.00 0.00 III-A 21,424,100.00 10,521,685.96 33,537.05 733,915.10 0.00 0.00 R-IA 0.00 0.00 0.00 0.00 0.00 0.00 R-IB 0.00 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 0.00 R-III 50.00 0.00 0.00 0.00 0.00 0.00 B-1 1,621,700.00 1,518,566.48 6,234.67 0.00 0.00 0.00 B-2 1,621,700.00 1,518,566.48 6,234.67 0.00 0.00 0.00 B-3 1,216,200.00 1,138,854.63 4,675.72 0.00 0.00 0.00 B-4 567,600.00 531,502.95 2,182.15 0.00 0.00 0.00 B-5 324,400.00 303,769.48 1,247.17 0.00 0.00 0.00 B-6 324,455.58 235,357.15 929.91 0.00 0.00 36.38 Totals 162,168,705.58 99,247,975.93 418,710.54 2,839,812.24 0.00 36.38 (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.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution I-A 2,089,883.00 74,961,307.77 0.62777459 2,089,883.00 II-A 379,683.34 6,048,798.69 0.38624557 379,683.34 III-A 767,452.15 9,754,233.81 0.45529258 767,452.15 R-IA 0.00 0.00 0.00000000 0.00 R-IB 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 B-1 6,234.67 1,512,331.81 0.93255954 6,234.67 B-2 6,234.67 1,512,331.81 0.93255954 6,234.67 B-3 4,675.72 1,134,178.92 0.93255955 4,675.72 B-4 2,182.15 529,320.80 0.93255955 2,182.15 B-5 1,247.17 302,522.32 0.93255956 1,247.17 B-6 966.29 234,390.86 0.72241279 929.91 Totals 3,258,559.16 95,989,416.79 0.59191085 3,258,522.78
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 119,408,000.00 645.27662108 2.92504539 14.57698965 0.00000000 II-A 15,660,500.00 410.49021615 0.91921586 23.32543405 0.00000000 III-A 21,424,100.00 491.11449069 1.56538898 34.25651953 0.00000000 R-IA 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-IB 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 1,621,700.00 936.40406980 3.84452735 0.00000000 0.00000000 B-2 1,621,700.00 936.40406980 3.84452735 0.00000000 0.00000000 B-3 1,216,200.00 936.40407005 3.84453215 0.00000000 0.00000000 B-4 567,600.00 936.40406977 3.84452079 0.00000000 0.00000000 B-5 324,400.00 936.40406905 3.84454377 0.00000000 0.00000000 B-6 324,455.58 725.39097648 2.86606259 0.00000000 0.00000000
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 17.50203504 627.77458604 0.62777459 17.50203504 II-A 0.00000000 24.24464992 386.24556623 0.38624557 24.24464992 III-A 0.00000000 35.82190850 455.29258219 0.45529258 35.82190850 R-IA 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-IB 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 3.84452735 932.55954246 0.93255954 3.84452735 B-2 0.00000000 3.84452735 932.55954246 0.93255954 3.84452735 B-3 0.00000000 3.84453215 932.55954613 0.93255955 3.84453215 B-4 0.00000000 3.84452079 932.55954898 0.93255955 3.84452079 B-5 0.00000000 3.84454377 932.55955610 0.93255956 3.84454377 B-6 0.11212629 2.97818888 722.41278760 0.72241279 2.86606259 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
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 I-A 119,408,000.00 4.70708% 77,051,190.77 302,238.67 0.00 0.00 II-A 15,660,500.00 6.98000% 6,428,482.03 37,392.31 0.00 0.00 III-A 21,424,100.00 5.31780% 10,521,685.96 46,626.82 0.00 0.00 R-IA 0.00 0.00000% 0.00 0.00 0.00 0.00 R-IB 0.00 0.00000% 0.00 0.00 0.00 0.00 R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 R-III 50.00 6.11878% 0.00 0.00 0.00 0.00 B-1 1,621,700.00 5.14498% 1,518,566.48 6,510.83 0.00 0.00 B-2 1,621,700.00 5.14498% 1,518,566.48 6,510.83 0.00 0.00 B-3 1,216,200.00 5.14498% 1,138,854.63 4,882.82 0.00 0.00 B-4 567,600.00 5.14498% 531,502.95 2,278.81 0.00 0.00 B-5 324,400.00 5.14498% 303,769.48 1,302.41 0.00 0.00 B-6 324,455.58 5.14498% 235,357.15 1,009.09 0.00 0.00 Totals 162,168,705.58 408,752.59 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 I-A 0.00 0.00 302,238.67 0.00 74,961,307.77 II-A 0.00 0.00 37,392.31 0.00 6,048,798.69 III-A 0.00 0.00 46,626.82 0.00 9,754,233.81 R-IA 0.00 0.00 0.00 0.00 0.00 R-IB 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 6,510.83 0.00 1,512,331.81 B-2 0.00 0.00 6,510.83 0.00 1,512,331.81 B-3 0.00 0.00 4,882.82 0.00 1,134,178.92 B-4 0.00 0.00 2,278.81 0.00 529,320.80 B-5 0.00 0.00 1,302.41 0.00 302,522.32 B-6 0.00 0.00 1,009.09 0.00 234,390.86 Totals 0.00 0.00 408,752.59 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
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 I-A 119,408,000.00 4.70708% 645.27662108 2.53114255 0.00000000 0.00000000 II-A 15,660,500.00 6.98000% 410.49021615 2.38768302 0.00000000 0.00000000 III-A 21,424,100.00 5.31780% 491.11449069 2.17637240 0.00000000 0.00000000 R-IA 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-IB 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 6.11878% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 1,621,700.00 5.14498% 936.40406980 4.01481778 0.00000000 0.00000000 B-2 1,621,700.00 5.14498% 936.40406980 4.01481778 0.00000000 0.00000000 B-3 1,216,200.00 5.14498% 936.40407005 4.01481664 0.00000000 0.00000000 B-4 567,600.00 5.14498% 936.40406977 4.01481677 0.00000000 0.00000000 B-5 324,400.00 5.14498% 936.40406905 4.01482737 0.00000000 0.00000000 B-6 324,455.58 5.14498% 725.39097648 3.11010216 0.00000000 0.00000000 (5) Per $1 denomination.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A 0.00000000 0.00000000 2.53114255 0.00000000 627.77458604 II-A 0.00000000 0.00000000 2.38768302 0.00000000 386.24556623 III-A 0.00000000 0.00000000 2.17637240 0.00000000 455.29258219 R-IA 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-IB 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 4.01481778 0.00000000 932.55954246 B-2 0.00000000 0.00000000 4.01481778 0.00000000 932.55954246 B-3 0.00000000 0.00000000 4.01481664 0.00000000 932.55954613 B-4 0.00000000 0.00000000 4.01481677 0.00000000 932.55954898 B-5 0.00000000 0.00000000 4.01482737 0.00000000 932.55955610 B-6 0.00000000 0.00000000 3.11010216 0.00000000 722.41278760 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 3,711,009.08 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 62,449.85 Realized Loss (Gains, Subsequent Expenses & Recoveries) (36.38) Prepayment Penalties 0.00 Total Deposits 3,773,422.55 Withdrawals Reimbursement for Servicer Advances 64,913.65 Payment of Service Fee 41,233.53 Payment of Interest and Principal 3,667,275.37 Total Withdrawals (Pool Distribution Amount) 3,773,422.55 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 31,014.99 FNMA Guaranty Fee 9,391.46 Trustee Fee 827.08 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 41,233.53
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 6 0 0 6 267,660.46 0.00 0.00 267,660.46 30 Days 72 2 0 0 74 4,120,396.27 62,974.69 0.00 0.00 4,183,370.96 60 Days 25 0 0 0 25 2,105,333.66 0.00 0.00 0.00 2,105,333.66 90 Days 6 1 0 0 7 480,714.90 81,443.54 0.00 0.00 562,158.44 120 Days 0 0 1 0 1 0.00 0.00 53,653.69 0.00 53,653.69 150 Days 1 0 0 0 1 412,743.94 0.00 0.00 0.00 412,743.94 180+ Days 3 1 1 1 6 98,255.62 83,008.84 83,218.96 20,813.12 285,296.54 Totals 107 10 2 1 120 7,217,444.39 495,087.53 136,872.65 20,813.12 7,870,217.69 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 0.347222% 0.000000% 0.000000% 0.347222% 0.277724% 0.000000% 0.000000% 0.277724% 30 Days 4.166667% 0.115741% 0.000000% 0.000000% 4.282407% 4.275317% 0.065342% 0.000000% 0.000000% 4.340660% 60 Days 1.446759% 0.000000% 0.000000% 0.000000% 1.446759% 2.184491% 0.000000% 0.000000% 0.000000% 2.184491% 90 Days 0.347222% 0.057870% 0.000000% 0.000000% 0.405093% 0.498789% 0.084506% 0.000000% 0.000000% 0.583295% 120 Days 0.000000% 0.000000% 0.057870% 0.000000% 0.057870% 0.000000% 0.000000% 0.055671% 0.000000% 0.055671% 150 Days 0.057870% 0.000000% 0.000000% 0.000000% 0.057870% 0.428263% 0.000000% 0.000000% 0.000000% 0.428263% 180+ Days 0.173611% 0.057870% 0.057870% 0.057870% 0.347222% 0.101950% 0.086130% 0.086348% 0.021596% 0.296023% Totals 6.192130% 0.578704% 0.115741% 0.057870% 6.944444% 7.488810% 0.513702% 0.142019% 0.021596% 8.166127%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 6 0 0 6 267,660.46 0.00 0.00 267,660.46 30 Days 69 2 0 0 71 3,596,991.30 62,974.69 0.00 0.00 3,659,965.99 60 Days 21 0 0 0 21 1,408,883.12 0.00 0.00 0.00 1,408,883.12 90 Days 5 1 0 0 6 187,302.81 81,443.54 0.00 0.00 268,746.35 120 Days 0 0 1 0 1 0.00 0.00 53,653.69 0.00 53,653.69 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 3 1 1 1 6 98,255.62 83,008.84 83,218.96 20,813.12 285,296.54 Totals 98 10 2 1 111 5,291,432.85 495,087.53 136,872.65 20,813.12 5,944,206.15 0-29 Days 0.361664% 0.000000% 0.000000% 0.361664% 0.337826% 0.000000% 0.000000% 0.337826% 30 Days 4.159132% 0.120555% 0.000000% 0.000000% 4.279687% 4.539917% 0.079483% 0.000000% 0.000000% 4.619400% 60 Days 1.265823% 0.000000% 0.000000% 0.000000% 1.265823% 1.778212% 0.000000% 0.000000% 0.000000% 1.778212% 90 Days 0.301386% 0.060277% 0.000000% 0.000000% 0.361664% 0.236403% 0.102793% 0.000000% 0.000000% 0.339196% 120 Days 0.000000% 0.000000% 0.060277% 0.000000% 0.060277% 0.000000% 0.000000% 0.067719% 0.000000% 0.067719% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.180832% 0.060277% 0.060277% 0.060277% 0.361664% 0.124013% 0.104769% 0.105034% 0.026269% 0.360085% Totals 5.907173% 0.602773% 0.120555% 0.060277% 6.690778% 6.678544% 0.624871% 0.172753% 0.026269% 7.502438% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 2 0 0 0 2 255,601.22 0.00 0.00 0.00 255,601.22 60 Days 3 0 0 0 3 462,182.87 0.00 0.00 0.00 462,182.87 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 5 0 0 0 5 717,784.09 0.00 0.00 0.00 717,784.09 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 4.444444% 0.000000% 0.000000% 0.000000% 4.444444% 3.867737% 0.000000% 0.000000% 0.000000% 3.867737% 60 Days 6.666667% 0.000000% 0.000000% 0.000000% 6.666667% 6.993714% 0.000000% 0.000000% 0.000000% 6.993714% 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 11.111111% 0.000000% 0.000000% 0.000000% 11.111111% 10.861452% 0.000000% 0.000000% 0.000000% 10.861452% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 1 0 0 0 1 267,803.75 0.00 0.00 0.00 267,803.75 60 Days 1 0 0 0 1 234,267.67 0.00 0.00 0.00 234,267.67 90 Days 1 0 0 0 1 293,412.09 0.00 0.00 0.00 293,412.09 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 1 0 0 0 1 412,743.94 0.00 0.00 0.00 412,743.94 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 4 0 0 0 4 1,208,227.45 0.00 0.00 0.00 1,208,227.45 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 4.166667% 0.000000% 0.000000% 0.000000% 4.166667% 2.541434% 0.000000% 0.000000% 0.000000% 2.541434% 60 Days 4.166667% 0.000000% 0.000000% 0.000000% 4.166667% 2.223179% 0.000000% 0.000000% 0.000000% 2.223179% 90 Days 4.166667% 0.000000% 0.000000% 0.000000% 4.166667% 2.784454% 0.000000% 0.000000% 0.000000% 2.784454% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 4.166667% 0.000000% 0.000000% 0.000000% 4.166667% 3.916903% 0.000000% 0.000000% 0.000000% 3.916903% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 16.666667% 0.000000% 0.000000% 0.000000% 16.666667% 11.465970% 0.000000% 0.000000% 0.000000% 11.465970%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 62,449.85
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 42,760,705.58 26.36803780% 21,028,109.02 21.90669526% 78.093305% 0.000000% Class 2A 27,100,205.58 16.71111913% 14,979,310.33 15.60516860% 6.301527% 115.764787% Class 3A 5,676,105.58 3.50012387% 5,225,076.52 5.44338813% 10.161780% 186.681167% Class R-II 5,676,105.58 3.50012387% 5,225,076.52 5.44338813% 0.000000% 0.000000% Class R-III 5,676,055.58 3.50009304% 5,225,076.52 5.44338813% 0.000000% 0.000000% Class B-1 4,054,355.58 2.50008506% 3,712,744.71 3.86786881% 1.575519% 28.943726% Class B-2 2,432,655.58 1.50007708% 2,200,412.90 2.29234948% 1.575519% 28.943726% Class B-3 1,216,455.58 0.75011734% 1,066,233.98 1.11078285% 1.181567% 21.706456% Class B-4 648,855.58 0.40011146% 536,913.18 0.55934623% 0.551437% 10.130393% Class B-5 324,455.58 0.20007287% 234,390.86 0.24418407% 0.315162% 5.789816% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.244184% 4.485884% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.440749% Weighted Average Net Coupon 5.065749% Weighted Average Pass-Through Rate 5.055749% Weighted Average Maturity(Stepdown Calculation ) 173 Beginning Scheduled Collateral Loan Count 1,765 Number Of Loans Paid In Full 37 Ending Scheduled Collateral Loan Count 1,728 Beginning Scheduled Collateral Balance 99,247,975.94 Ending Scheduled Collateral Balance 95,989,416.78 Ending Actual Collateral Balance at 31-Jul-2003 96,376,385.26 Monthly P &I Constant 868,733.02 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 36.38 Cumulative Realized Loss 70,509.72 Class A Optimal Amount 3,632,667.75 Ending Scheduled Balance for Premium Loans 95,989,416.78 Scheduled Principal 418,746.92 Unscheduled Principal 2,839,812.24
Miscellaneous Reporting Deficiency Amount 0.00 Guaranteed Interest Payment 0.00 Guaraneteed Principal Payment 0.00 Guarantor Remibursement Amount 0.00 Senior Percentage Group 1 95.107033% Senior Prepayment Pct. Group 1 100.000000% Subordinate Percentage Group 1 4.892967% Subordinate Prepayment Pct. Group 1 0.000000% Average Loss Severity Group 1 0 Senior Percentage Group 2 92.187866% Senior Prepayment Pct. Group 2 100.000000% Subordinate Percentage Group 2 7.812134% Subordinate Prepayment Pct. Group 2 0.000000% Average Loss Severity Group 2 0 Senior Percentage Group 3 93.447226% Senior Prepayment Pct. Group 3 100.000000% Subordinate Percentage Group 3 6.552774% Subordinate Prepayment Pct. Group 3 0.000000% Average Loss Severity Group 3 0
Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.227084 7.499996 5.702796 Weighted Average Net Rate 4.852084 7.124993 5.327798 Weighted Average Maturity 165 209 191 Beginning Loan Count 1,692 47 26 Loans Paid In Full 33 2 2 Ending Loan Count 1,659 45 24 Beginning Scheduled Balance 81,015,239.70 6,973,240.95 11,259,495.29 Ending scheduled Balance 78,907,387.63 6,592,337.72 10,489,691.43 Record Date 07/31/2003 07/31/2003 07/31/2003 Principal And Interest Constant 720,137.42 59,198.00 89,397.60 Scheduled Principal 367,242.89 15,615.27 35,888.76 Unscheduled Principal 1,740,609.18 365,287.96 733,915.10 Scheduled Interest 352,894.53 43,582.73 53,508.84 Servicing Fees 25,317.26 2,179.15 3,518.58 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 675.13 58.12 93.83 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 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 326,902.14 41,345.46 49,896.43 Realized Loss Amount 36.38 0.00 0.00 Cumulative Realized Loss 70,192.02 111.50 206.20 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 4.842084 7.114996 5.317796
Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 5.440749 Weighted Average Net Rate 5.065749 Weighted Average Maturity 173 Beginning Loan Count 1,765 Loans Paid In Full 37 Ending Loan Count 1,728 Beginning Scheduled Balance 99,247,975.94 Ending scheduled Balance 95,989,416.78 Record Date 07/31/2003 Principal And Interest Constant 868,733.02 Scheduled Principal 418,746.92 Unscheduled Principal 2,839,812.24 Scheduled Interest 449,986.10 Servicing Fees 31,014.99 Master Servicing Fees 0.00 Trustee Fee 827.08 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 418,144.03 Realized Loss Amount 36.38 Cumulative Realized Loss 70,509.72 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 5.055749
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