-----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, KrimdtcNuAUK+1W02hoCNwp+Trni5YGMWmrni+RB64jalEF/3sfqvexHXMVBxL0s D6z23roOyeB6Iu8QHcpfDQ== 0001056404-03-001548.txt : 20030908 0001056404-03-001548.hdr.sgml : 20030908 20030905181819 ACCESSION NUMBER: 0001056404-03-001548 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: 20030908 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERRILL LYNCH MORT INV INC MORT LN AST BCK CE SER 2003-WMC1 CENTRAL INDEX KEY: 0001222424 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-101760-03 FILM NUMBER: 03884666 BUSINESS ADDRESS: STREET 1: 4LD FINANCIAL CENTER FLOOR 10 CITY: NEW YORK STATE: NY ZIP: 10281-1310 8-K 1 mlm03wm1.txt AUGUST 8K 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 MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2003-WMC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-101760-03 54-2102397 Pooling and Servicing Agreement) (Commission 54-2102398 (State or other File Number) 54-2102399 jurisdiction 54-6535287 of Incorporation) 54-6535291 54-6535292 IRS EIN c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, Maryland 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 MERRILL LYNCH MORTGAGE INVESTORS, INC., Mortgage Loan Asset-Backed Certificates, Series 2003-WMC1 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 Loan Asset-Backed Certificates, Series 2003-WMC1 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. MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2003-WMC1 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/5/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2003-WMC1 Trust, relating to the August 25, 2003 distribution.
Merrill Lynch Mortgage Loans, Inc. Mortgage Loan Asset-Backed Certificates Record Date: 7/31/03 Distribution Date: 8/25/03 MLM Series: 2003-WMC1 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 R 58992903R Sen 1.50000% 0.00 0.00 0.00 A1 589929J25 Sen 1.50000% 276,251,421.85 356,824.75 10,366,832.37 A2 589929J33 Sen 1.46000% 305,637,579.25 384,254.36 9,575,515.86 M1 589929J41 Sub 1.95000% 56,592,000.00 95,027.40 0.00 M2 589929J58 Sub 3.05000% 39,289,000.00 103,188.19 0.00 B1 589929J66 Sub 4.10000% 30,325,000.00 107,064.10 0.00 B2 589929J74 Sub 4.10000% 11,906,000.00 42,034.79 0.00 C 58992903C Sub 0.00000% 12,699,647.00 3,349,236.13 0.00 P 58992903P Sub 0.00000% 0.00 398,072.52 0.00 S 589929J90 Sub 0.22063% 0.00 136,790.79 0.00 Totals 732,700,648.10 4,972,493.03 19,942,348.23
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses R 0.00 0.00 0.00 0.00 A1 0.00 265,884,589.48 10,723,657.12 0.00 A2 0.00 296,062,063.39 9,959,770.22 0.00 M1 0.00 56,592,000.00 95,027.40 0.00 M2 0.00 39,289,000.00 103,188.19 0.00 B1 0.00 30,325,000.00 107,064.10 0.00 B2 0.00 11,906,000.00 42,034.79 0.00 C 0.00 12,672,968.68 3,349,236.13 0.00 P 0.00 0.00 398,072.52 0.00 S 0.00 0.00 136,790.79 0.00 Totals 0.00 712,731,621.55 24,914,841.26 0.00 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) R 100.00 0.00 0.00 0.00 0.00 0.00 A1 298,080,000.00 276,251,421.85 0.00 10,366,832.37 0.00 0.00 A2 343,195,000.00 305,637,579.25 0.00 9,575,515.86 0.00 0.00 M1 56,592,000.00 56,592,000.00 0.00 0.00 0.00 0.00 M2 39,289,000.00 39,289,000.00 0.00 0.00 0.00 0.00 B1 30,325,000.00 30,325,000.00 0.00 0.00 0.00 0.00 B2 11,906,000.00 11,906,000.00 0.00 0.00 0.00 0.00 C 12,673,442.37 12,699,647.00 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 S 0.00 0.00 0.00 0.00 0.00 0.00 Totals 792,060,542.37 732,700,648.10 0.00 19,942,348.23 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 R 0.00 0.00 0.00000000 0.00 A1 10,366,832.37 265,884,589.48 0.89199071 10,366,832.37 A2 9,575,515.86 296,062,063.39 0.86266427 9,575,515.86 M1 0.00 56,592,000.00 1.00000000 0.00 M2 0.00 39,289,000.00 1.00000000 0.00 B1 0.00 30,325,000.00 1.00000000 0.00 B2 0.00 11,906,000.00 1.00000000 0.00 C 0.00 12,672,968.68 0.99996262 0.00 P 0.00 0.00 0.00000000 0.00 S 0.00 0.00 0.00000000 0.00 Totals 19,942,348.23 712,731,621.55 0.89984488 19,942,348.23
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A1 298,080,000.00 926.76939697 0.00000000 34.77869153 0.00000000 A2 343,195,000.00 890.56536153 0.00000000 27.90109372 0.00000000 M1 56,592,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 39,289,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 30,325,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 11,906,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 12,673,442.37 1002.06768053 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.00000000 0.00000000 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 34.77869153 891.99070545 0.89199071 34.77869153 A2 0.00000000 27.90109372 862.66426781 0.86266427 27.90109372 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 0.00000000 0.00000000 999.96262341 0.99996262 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 R 100.00 1.50000% 0.00 0.00 0.00 0.00 A1 298,080,000.00 1.50000% 276,251,421.85 356,824.75 0.00 0.00 A2 343,195,000.00 1.46000% 305,637,579.25 384,254.36 0.00 0.00 M1 56,592,000.00 1.95000% 56,592,000.00 95,027.40 0.00 0.00 M2 39,289,000.00 3.05000% 39,289,000.00 103,188.19 0.00 0.00 B1 30,325,000.00 4.10000% 30,325,000.00 107,064.10 0.00 0.00 B2 11,906,000.00 4.10000% 11,906,000.00 42,034.79 0.00 0.00 C 12,673,442.37 0.00000% 12,699,647.00 0.00 0.00 0.00 P 0.00 0.00000% 0.01 0.00 0.00 0.00 S 0.00 0.22063% 720,001,001.10 136,790.79 0.00 0.00 Totals 792,060,542.37 1,225,184.38 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 R 0.00 0.00 0.00 0.00 0.00 A1 0.00 0.00 356,824.75 0.00 265,884,589.48 A2 0.00 0.00 384,254.36 0.00 296,062,063.39 M1 0.00 0.00 95,027.40 0.00 56,592,000.00 M2 0.00 0.00 103,188.19 0.00 39,289,000.00 B1 0.00 0.00 107,064.10 0.00 30,325,000.00 B2 0.00 0.00 42,034.79 0.00 11,906,000.00 C 0.00 0.00 3,349,236.13 0.00 12,672,968.68 P 0.00 0.00 398,072.52 0.00 0.01 S 0.00 0.00 136,790.79 0.00 700,058,652.87 Totals 0.00 0.00 4,972,493.03 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 R 100.00 1.50000% 0.00000000 0.00000000 0.00000000 0.00000000 A1 298,080,000.00 1.50000% 926.76939697 1.19707713 0.00000000 0.00000000 A2 343,195,000.00 1.46000% 890.56536153 1.11963857 0.00000000 0.00000000 M1 56,592,000.00 1.95000% 1000.00000000 1.67916667 0.00000000 0.00000000 M2 39,289,000.00 3.05000% 1000.00000000 2.62638881 0.00000000 0.00000000 B1 30,325,000.00 4.10000% 1000.00000000 3.53055565 0.00000000 0.00000000 B2 11,906,000.00 4.10000% 1000.00000000 3.53055518 0.00000000 0.00000000 C 12,673,442.37 0.00000% 1002.06768053 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.22063% 923.80410338 0.17551072 0.00000000 0.00000000 Per $1000 denomination. class B and C certificates are 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 0.00000000 1.19707713 0.00000000 891.99070545 A2 0.00000000 0.00000000 1.11963857 0.00000000 862.66426781 M1 0.00000000 0.00000000 1.67916667 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.62638881 0.00000000 1000.00000000 B1 0.00000000 0.00000000 3.53055565 0.00000000 1000.00000000 B2 0.00000000 0.00000000 3.53055518 0.00000000 1000.00000000 C 0.00000000 0.00000000 264.27201326 0.00000000 999.96262341 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00000000 0.00000000 0.17551072 0.00000000 898.21688461 (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 24,847,903.99 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 240,374.60 Realized Loss (Gains, Subsequent Expenses & Recoveries) (37,501.09) Prepayment Penalties 398,072.52 Total Deposits 25,448,850.02 Withdrawals Reimbursement for Servicer Advances 216,610.20 Payment of Service Fee 317,398.56 Payment of Interest and Principal 24,914,841.26 Total Withdrawals (Pool Distribution Amount) 25,448,850.02 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 304,881.60 Credit Risk Manager Fee 9,464.05 Trustee Fee 3,052.91 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 317,398.56
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 212 0 0 0 212 34,615,727.72 0.00 0.00 0.00 34,615,727.72 60 Days 77 0 0 0 77 13,390,747.48 0.00 0.00 0.00 13,390,747.48 90 Days 31 0 0 0 31 6,326,755.92 0.00 0.00 0.00 6,326,755.92 120 Days 58 0 0 0 58 10,357,362.16 0.00 0.00 0.00 10,357,362.16 150 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 378 0 0 0 378 64,690,593.28 0.00 0.00 0.00 64,690,593.28 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 4.773700% 0.000000% 0.000000% 0.000000% 4.773700% 4.853330% 0.000000% 0.000000% 0.000000% 4.853330% 60 Days 1.733844% 0.000000% 0.000000% 0.000000% 1.733844% 1.877462% 0.000000% 0.000000% 0.000000% 1.877462% 90 Days 0.698041% 0.000000% 0.000000% 0.000000% 0.698041% 0.887049% 0.000000% 0.000000% 0.000000% 0.887049% 120 Days 1.306012% 0.000000% 0.000000% 0.000000% 1.306012% 1.452164% 0.000000% 0.000000% 0.000000% 1.452164% 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 8.511596% 0.000000% 0.000000% 0.000000% 8.511596% 9.070004% 0.000000% 0.000000% 0.000000% 9.070004%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 240,374.60
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.029432% Weighted Average Net Coupon 7.530104% Weighted Average Pass-Through Rate 7.509604% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 4,553 Number Of Loans Paid In Full 112 Ending Scheduled Collateral Loan Count 4,441 Beginning Scheduled Collateral Balance 732,700,648.10 Ending Scheduled Collateral Balance 712,731,621.55 Ending Actual Collateral Balance at 31-Jul-2003 713,236,623.07 Monthly P &I Constant 5,441,448.42 Special Servicing Fee 0.00 Prepayment Penalties 398,072.52 Realized Loss Amount 37,501.09 Cumulative Realized Loss 37,501.09 Ending Scheduled Balance for Premium Loans 712,731,621.55 Scheduled Principal 537,072.04 Unscheduled Principal 19,431,954.51 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 26,678.32 Specified O/C Amount 12,672,968.68 Overcollateralized Amount 12,672,968.68 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 10,822.77 Excess Cash Amount 3,360,058.97
TRIGGER EVENT No
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