-----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, T19tSxtDlkLyE0WELbIV5/sS1eUuFnkX0jOPkK5OxvDrmErHm9qyauAo8mNCVqBb 0MMRIr+YMU6bfWefRayb2Q== 0001056404-04-001412.txt : 20040408 0001056404-04-001412.hdr.sgml : 20040408 20040408153519 ACCESSION NUMBER: 0001056404-04-001412 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040325 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040408 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: 04724896 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 MARCH 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): March 25, 2004 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, 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 March 25, 2004 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 March 25, 2004 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-1 Trust By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 4/6/2004 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 March 25, 2004 distribution. EX-99.1
Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 2/29/2004 Distribution Date: 3/25/2004 BST Series: 2002-1 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 I-A 07384MHZ8 SEN 4.24368% 63,256,004.30 223,698.73 1,483,969.83 II-A 07384MJA1 SEN 6.98000% 3,153,527.15 18,343.02 393,417.44 III-A 07384MJK9 SEN 4.45857% 7,909,308.80 29,386.84 29,750.61 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 6.05063% 0.00 0.00 0.00 B-1 07384MJM5 SUB 4.67856% 1,472,770.78 5,742.04 6,656.16 B-2 07384MJN3 SUB 4.67856% 1,472,770.78 5,742.04 6,656.16 B-3 07384MJP8 SUB 4.67856% 1,104,509.97 4,306.26 4,991.81 B-4 07384MJQ6 SUB 4.67856% 515,474.31 2,009.73 2,329.68 B-5 07384MJR4 SUB 4.67856% 294,608.65 1,148.62 1,331.48 B-6 07384MJS2 SUB 4.67856% 225,702.05 879.97 1,020.06 Totals 79,404,676.79 291,257.25 1,930,123.23
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 61,772,034.47 1,707,668.56 0.00 II-A 0.00 2,760,109.71 411,760.46 0.00 III-A 0.00 7,879,558.19 59,137.45 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 1,466,114.62 12,398.20 0.00 B-2 0.00 1,466,114.62 12,398.20 0.00 B-3 0.00 1,099,518.16 9,298.07 0.00 B-4 0.00 513,144.64 4,339.41 0.00 B-5 0.00 293,277.17 2,480.10 0.00 B-6 0.00 224,682.00 1,900.03 73,088.38 Totals 0.00 77,474,553.58 2,221,380.48 73,088.38 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 63,256,004.30 315,884.37 1,168,085.46 0.00 0.00 II-A 15,660,500.00 3,153,527.15 7,079.69 386,337.75 0.00 0.00 III-A 21,424,100.00 7,909,308.80 29,198.65 551.96 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 1,472,770.78 6,656.16 0.00 0.00 0.00 B-2 1,621,700.00 1,472,770.78 6,656.16 0.00 0.00 0.00 B-3 1,216,200.00 1,104,509.97 4,991.81 0.00 0.00 0.00 B-4 567,600.00 515,474.31 2,329.68 0.00 0.00 0.00 B-5 324,400.00 294,608.65 1,331.48 0.00 0.00 0.00 B-6 324,455.58 225,702.05 1,020.06 0.00 0.00 0.00 Totals 162,168,705.58 79,404,676.79 375,148.06 1,554,975.17 0.00 0.00 (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 1,483,969.83 61,772,034.47 0.51731906 1,483,969.83 II-A 393,417.44 2,760,109.71 0.17624659 393,417.44 III-A 29,750.61 7,879,558.19 0.36778946 29,750.61 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 6,656.16 1,466,114.62 0.90406032 6,656.16 B-2 6,656.16 1,466,114.62 0.90406032 6,656.16 B-3 4,991.81 1,099,518.16 0.90406032 4,991.81 B-4 2,329.68 513,144.64 0.90406032 2,329.68 B-5 1,331.48 293,277.17 0.90406033 1,331.48 B-6 1,020.06 224,682.00 0.69248925 1,020.06 Totals 1,930,123.23 77,474,553.58 0.47774047 1,930,123.23
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 119,408,000.00 529.74678665 2.64542049 9.78230487 0.00000000 II-A 15,660,500.00 201.36822898 0.45207305 24.66956674 0.00000000 III-A 21,424,100.00 369.17811250 1.36288806 0.02576351 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 1,621,700.00 908.16475304 4.10443362 0.00000000 0.00000000 B-2 1,621,700.00 908.16475304 4.10443362 0.00000000 0.00000000 B-3 1,216,200.00 908.16475086 4.10443184 0.00000000 0.00000000 B-4 567,600.00 908.16474630 4.10443975 0.00000000 0.00000000 B-5 324,400.00 908.16476572 4.10443896 0.00000000 0.00000000 B-6 324,455.58 695.63312796 3.14391264 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 12.42772536 517.31906129 0.51731906 12.42772536 II-A 0.00000000 25.12163979 176.24658919 0.17624659 25.12163979 III-A 0.00000000 1.38865157 367.78946093 0.36778946 1.38865157 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 4.10443362 904.06031942 0.90406032 4.10443362 B-2 0.00000000 4.10443362 904.06031942 0.90406032 4.10443362 B-3 0.00000000 4.10443184 904.06031903 0.90406032 4.10443184 B-4 0.00000000 4.10443975 904.06032417 0.90406032 4.10443975 B-5 0.00000000 4.10443896 904.06032676 0.90406033 4.10443896 B-6 0.00000000 3.14391264 692.48924614 0.69248925 3.14391264 (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.
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 4.24368% 63,256,004.30 223,698.72 0.00 0.00 II-A 15,660,500.00 6.98000% 3,153,527.15 18,343.02 0.00 0.00 III-A 21,424,100.00 4.45857% 7,909,308.80 29,386.84 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 6.05063% 0.00 0.00 0.00 0.00 B-1 1,621,700.00 4.67856% 1,472,770.78 5,742.03 0.00 0.00 B-2 1,621,700.00 4.67856% 1,472,770.78 5,742.03 0.00 0.00 B-3 1,216,200.00 4.67856% 1,104,509.97 4,306.26 0.00 0.00 B-4 567,600.00 4.67856% 515,474.31 2,009.73 0.00 0.00 B-5 324,400.00 4.67856% 294,608.65 1,148.62 0.00 0.00 B-6 324,455.58 4.67856% 225,702.05 879.97 0.00 0.00 Totals 162,168,705.58 291,257.22 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 (0.01) 0.00 223,698.73 0.00 61,772,034.47 II-A 0.00 0.00 18,343.02 0.00 2,760,109.71 III-A 0.00 0.00 29,386.84 0.00 7,879,558.19 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 5,742.04 0.00 1,466,114.62 B-2 0.00 0.00 5,742.04 0.00 1,466,114.62 B-3 0.00 0.00 4,306.26 0.00 1,099,518.16 B-4 0.00 0.00 2,009.73 0.00 513,144.64 B-5 0.00 0.00 1,148.62 0.00 293,277.17 B-6 0.00 0.00 879.97 0.00 224,682.00 Totals (0.01) 0.00 291,257.25 0.00 (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.
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 4.24368% 529.74678665 1.87339810 0.00000000 0.00000000 II-A 15,660,500.00 6.98000% 201.36822898 1.17129210 0.00000000 0.00000000 III-A 21,424,100.00 4.45857% 369.17811250 1.37167209 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 6.05063% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 1,621,700.00 4.67856% 908.16475304 3.54074736 0.00000000 0.00000000 B-2 1,621,700.00 4.67856% 908.16475304 3.54074736 0.00000000 0.00000000 B-3 1,216,200.00 4.67856% 908.16475086 3.54074988 0.00000000 0.00000000 B-4 567,600.00 4.67856% 908.16474630 3.54075053 0.00000000 0.00000000 B-5 324,400.00 4.67856% 908.16476572 3.54075216 0.00000000 0.00000000 B-6 324,455.58 4.67856% 695.63312796 2.71214322 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 (0.00000008) 0.00000000 1.87339818 0.00000000 517.31906129 II-A 0.00000000 0.00000000 1.17129210 0.00000000 176.24658919 III-A 0.00000000 0.00000000 1.37167209 0.00000000 367.78946093 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 3.54075353 0.00000000 904.06031942 B-2 0.00000000 0.00000000 3.54075353 0.00000000 904.06031942 B-3 0.00000000 0.00000000 3.54074988 0.00000000 904.06031903 B-4 0.00000000 0.00000000 3.54075053 0.00000000 904.06032417 B-5 0.00000000 0.00000000 3.54075216 0.00000000 904.06032676 B-6 0.00000000 0.00000000 2.71214322 0.00000000 692.48924614 (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.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2,250,828.93 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 55,069.23 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2,305,898.16 Withdrawals Reimbursement for Servicer Advances 51,586.71 Payment of Service Fee 32,930.97 Payment of Interest and Principal 2,221,380.48 Total Withdrawals (Pool Distribution Amount) 2,305,898.16 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 (0.01)
SERVICING FEES Gross Servicing Fee 24,798.21 FNMA Guaranty Fee 7,471.07 Trustee Fee 661.69 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 32,930.97
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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 67 0 0 0 67 4,952,628.77 0.00 0.00 0.00 4,952,628.77 60 Days 15 0 0 0 15 763,887.79 0.00 0.00 0.00 763,887.79 90 Days 3 0 0 0 3 199,946.07 0.00 0.00 0.00 199,946.07 120 Days 4 0 0 0 4 349,808.56 0.00 0.00 0.00 349,808.56 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 7 0 0 0 7 428,854.10 0.00 0.00 0.00 428,854.10 Totals 96 0 0 0 96 6,695,125.29 0.00 0.00 0.00 6,695,125.29 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 4.551630% 0.000000% 0.000000% 0.000000% 4.551630% 6.363906% 0.000000% 0.000000% 0.000000% 6.363906% 60 Days 1.019022% 0.000000% 0.000000% 0.000000% 1.019022% 0.981562% 0.000000% 0.000000% 0.000000% 0.981562% 90 Days 0.203804% 0.000000% 0.000000% 0.000000% 0.203804% 0.256922% 0.000000% 0.000000% 0.000000% 0.256922% 120 Days 0.271739% 0.000000% 0.000000% 0.000000% 0.271739% 0.449488% 0.000000% 0.000000% 0.000000% 0.449488% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.475543% 0.000000% 0.000000% 0.000000% 0.475543% 0.551058% 0.000000% 0.000000% 0.000000% 0.551058% Totals 6.521739% 0.000000% 0.000000% 0.000000% 6.521739% 8.602936% 0.000000% 0.000000% 0.000000% 8.602936%
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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 64 0 0 0 64 4,266,043.18 0.00 0.00 0.00 4,266,043.18 60 Days 14 0 0 0 14 644,731.03 0.00 0.00 0.00 644,731.03 90 Days 3 0 0 0 3 199,946.07 0.00 0.00 0.00 199,946.07 120 Days 3 0 0 0 3 108,475.62 0.00 0.00 0.00 108,475.62 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 6 0 0 0 6 197,339.67 0.00 0.00 0.00 197,339.67 Totals 90 0 0 0 90 5,416,535.57 0.00 0.00 0.00 5,416,535.57 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 4.472397% 0.000000% 0.000000% 0.000000% 4.472397% 6.475146% 0.000000% 0.000000% 0.000000% 6.475146% 60 Days 0.978337% 0.000000% 0.000000% 0.000000% 0.978337% 0.978595% 0.000000% 0.000000% 0.000000% 0.978595% 90 Days 0.209644% 0.000000% 0.000000% 0.000000% 0.209644% 0.303485% 0.000000% 0.000000% 0.000000% 0.303485% 120 Days 0.209644% 0.000000% 0.000000% 0.000000% 0.209644% 0.164648% 0.000000% 0.000000% 0.000000% 0.164648% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.419287% 0.000000% 0.000000% 0.000000% 0.419287% 0.299529% 0.000000% 0.000000% 0.000000% 0.299529% Totals 6.289308% 0.000000% 0.000000% 0.000000% 6.289308% 8.221403% 0.000000% 0.000000% 0.000000% 8.221403% 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 2 333,253.99 0.00 0.00 0.00 333,253.99 60 Days 1 0 0 0 1 119,156.76 0.00 0.00 0.00 119,156.76 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 3 0 0 0 3 452,410.75 0.00 0.00 0.00 452,410.75 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 9.090909% 0.000000% 0.000000% 0.000000% 9.090909% 10.087647% 0.000000% 0.000000% 0.000000% 10.087647% 60 Days 4.545455% 0.000000% 0.000000% 0.000000% 4.545455% 3.606893% 0.000000% 0.000000% 0.000000% 3.606893% 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 13.636364% 0.000000% 0.000000% 0.000000% 13.636364% 13.694540% 0.000000% 0.000000% 0.000000% 13.694540% 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 1 353,331.60 0.00 0.00 0.00 353,331.60 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 1 0 0 0 1 241,332.94 0.00 0.00 0.00 241,332.94 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 1 0 0 0 1 231,514.43 0.00 0.00 0.00 231,514.43 Totals 3 0 0 0 3 826,178.97 0.00 0.00 0.00 826,178.97 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 5.263158% 0.000000% 0.000000% 0.000000% 5.263158% 4.091007% 0.000000% 0.000000% 0.000000% 4.091007% 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 5.263158% 0.000000% 0.000000% 0.000000% 5.263158% 2.794244% 0.000000% 0.000000% 0.000000% 2.794244% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 5.263158% 0.000000% 0.000000% 0.000000% 5.263158% 2.680562% 0.000000% 0.000000% 0.000000% 2.680562% Totals 15.789474% 0.000000% 0.000000% 0.000000% 15.789474% 9.565812% 0.000000% 0.000000% 0.000000% 9.565812%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 55,069.23
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 42,760,705.58 26.36803780% 15,702,519.11 20.26796979% 79.732030% 0.000000% Class 2A 27,100,205.58 16.71111913% 12,942,409.40 16.70536815% 3.562602% 54.516904% Class 3A 5,676,105.58 3.50012387% 5,062,851.21 6.53485690% 10.170511% 155.634797% Class R-II 5,676,105.58 3.50012387% 5,062,851.21 6.53485690% 0.000000% 0.000000% Class R-III 5,676,055.58 3.50009304% 5,062,851.21 6.53485690% 0.000000% 0.000000% Class B-1 4,054,355.58 2.50008506% 3,596,736.59 4.64247475% 1.892382% 28.958280% Class B-2 2,432,655.58 1.50007708% 2,130,621.97 2.75009261% 1.892382% 28.958280% Class B-3 1,216,455.58 0.75011734% 1,031,103.81 1.33089352% 1.419199% 21.717371% Class B-4 648,855.58 0.40011146% 517,959.17 0.66855393% 0.662340% 10.135487% Class B-5 324,455.58 0.20007287% 224,682.00 0.29000748% 0.378546% 5.792727% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.290007% 4.437855% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.899281% Weighted Average Net Coupon 4.524520% Weighted Average Pass-Through Rate 4.514519% Weighted Average Maturity(Stepdown Calculation ) 166 Beginning Scheduled Collateral Loan Count 1,494 Number Of Loans Paid In Full 22 Ending Scheduled Collateral Loan Count 1,472 Beginning Scheduled Collateral Balance 79,404,676.80 Ending Scheduled Collateral Balance 77,474,553.57 Ending Actual Collateral Balance at 29-Feb-2004 77,823,721.97 Monthly P &I Constant 699,336.28 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 73,085.38 Class A Optimal Amount 2,186,037.53 Ending Scheduled Balance for Premium Loans 77,474,553.57 Scheduled Principal 375,148.06 Unscheduled Principal 1,554,975.17
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 94.291929% Senior Prepayment Pct. Group 1 100.000000% Subordinate Percentage Group 1 0.000000% Subordinate Prepayment Pct. Group 1 0.000000% Average Loss Severity Group 1 0 Senior Percentage Group 2 85.464737% Senior Prepayment Pct. Group 2 100.000000% Subordinate Percentage Group 2 0.000000% Subordinate Prepayment Pct. Group 2 0.000000% Average Loss Severity Group 2 0 Senior Percentage Group 3 91.653896% Senior Prepayment Pct. Group 3 100.000000% Subordinate Percentage Group 3 0.000000% 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 4.763402 7.500000 4.843570 Weighted Average Net Rate 4.388684 7.125000 4.468570 Weighted Average Maturity 158 202 184 Beginning Loan Count 1,450 25 19 Loans Paid In Full 19 3 0 Ending Loan Count 1,431 22 19 Beginning Scheduled Balance 67,085,280.01 3,689,857.67 8,629,539.12 Ending scheduled Balance 65,582,187.75 3,295,236.17 8,597,129.65 Record Date 02/29/2004 02/29/2004 02/29/2004 Principal And Interest Constant 601,301.93 31,345.36 66,688.99 Scheduled Principal 335,006.80 8,283.75 31,857.51 Unscheduled Principal 1,168,085.46 386,337.75 551.96 Scheduled Interest 266,295.13 23,061.61 34,831.48 Servicing Fees 20,948.40 1,153.08 2,696.73 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 559.03 30.75 71.91 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 244,787.70 21,877.78 32,062.84 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 72,651.93 143.75 289.70 Percentage of Cumulative Losses 0.0587 0.0009 0.0013 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 4.378684 7.115000 4.458570
Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 4.899281 Weighted Average Net Rate 4.524520 Weighted Average Maturity 166 Beginning Loan Count 1,494 Loans Paid In Full 22 Ending Loan Count 1,472 Beginning Scheduled Balance 79,404,676.80 Ending scheduled Balance 77,474,553.57 Record Date 02/29/2004 Principal And Interest Constant 699,336.28 Scheduled Principal 375,148.06 Unscheduled Principal 1,554,975.17 Scheduled Interest 324,188.22 Servicing Fees 24,798.21 Master Servicing Fees 0.00 Trustee Fee 661.69 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 298,728.32 Realized Loss Amount 0.00 Cumulative Realized Loss 73,085.38 Percentage of Cumulative Losses 0.0451 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 4.514519
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