-----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, EGrfD8Kc2FuS54L4N6dNIaFfjn08ixc5o6JD8EFH0hYAXBFYC57Y+szBcQ3vgPw9 zuJ3UeEDemE3rAA4dDBymw== 0001056404-04-004269.txt : 20041203 0001056404-04-004269.hdr.sgml : 20041203 20041203151907 ACCESSION NUMBER: 0001056404-04-004269 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041126 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041203 DATE AS OF CHANGE: 20041203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STRUCTURED ASSET MORT INV INC THORNBURG MORT SEC TR 2003-2 CENTRAL INDEX KEY: 0001225667 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-56240-12 FILM NUMBER: 041183572 BUSINESS ADDRESS: STREET 1: 383 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10179 8-K 1 thb03002_nov.txt NOVEMBER 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): November 26, 2004 THORNBURG MORTGAGE SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2003-2 Trust (Exact name of registrant as specified in its charter) Delaware (governing law of 333-56240-12 54-2120412 Pooling and Servicing Agreement) (Commission 54-2120413 (State or other File Number) IRS EIN jurisdiction of Incorporation) 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 November 26, 2004 a distribution was made to holders of THORNBURG MORTGAGE SECURITIES TRUST, Mortgage Pass-Through Certificates, Series 2003-2 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 2003-2 Trust, relating to the November 26, 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. THORNBURG MORTGAGE SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2003-2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 12/1/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-2 Trust, relating to the November 26, 2004 distribution. EX-99.1
Thornburg Mortgage Home Loans, Inc. Mortgage Pass-Through Certificates Record Date: 10/31/2004 Distribution Date: 11/26/2004 THB Series: 2003-2 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 A 885220DC4 SEN 2.27250% 592,679,156.83 1,197,211.92 15,188,768.27 M-1 885220DD2 SUB 2.68250% 10,608,900.00 25,296.33 0.00 M-2 885220DE0 SUB 3.43250% 10,608,900.00 32,368.93 0.00 B-IO 885220DH3 SEN 0.00000% 69.76 783,717.46 0.00 R-1 885220DF7 SEN 0.00000% 0.00 0.00 0.00 R-2 885220DG5 SEN 0.00000% 0.00 0.00 0.00 Totals 613,897,026.59 2,038,594.64 15,188,768.27
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 577,490,388.56 16,385,980.19 0.00 M-1 0.00 10,608,900.00 25,296.33 0.00 M-2 0.00 10,608,900.00 32,368.93 0.00 B-IO 0.00 69.76 783,717.46 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 598,708,258.32 17,227,362.91 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) A 1,039,673,900.00 592,679,156.83 0.00 15,188,768.27 0.00 0.00 M-1 10,608,900.00 10,608,900.00 0.00 0.00 0.00 0.00 M-2 10,608,900.00 10,608,900.00 0.00 0.00 0.00 0.00 B-IO 69.76 69.76 0.00 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 Totals 1,060,891,869.76 613,897,026.59 0.00 15,188,768.27 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 A 15,188,768.27 577,490,388.56 0.55545339 15,188,768.27 M-1 0.00 10,608,900.00 1.00000000 0.00 M-2 0.00 10,608,900.00 1.00000000 0.00 B-IO 0.00 69.76 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 Totals 15,188,768.27 598,708,258.32 0.56434428 15,188,768.27
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 1,039,673,900.00 14251.56380356 0.00000000 365.22914228 0.00000000 M-1 10,608,900.00 25000.00000000 0.00000000 0.00000000 0.00000000 M-2 10,608,900.00 25000.00000000 0.00000000 0.00000000 0.00000000 B-IO 69.76 10000000.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) Classes A, M-1, M-2 are per $25,000 Denomination. Class B-IO are per $10,000,000 Denomination. Classes R-1, R-2 are per $50.00 Denomination.
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A 0.00000000 365.22914228 13,886.33466128 0.55545339 365.22914228 M-1 0.00000000 0.00000000 25,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 25,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 10,000,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 A 1,039,673,900.00 2.27250% 592,679,156.83 1,197,211.90 0.00 0.00 M-1 10,608,900.00 2.68250% 10,608,900.00 25,296.33 0.00 0.00 M-2 10,608,900.00 3.43250% 10,608,900.00 32,368.93 0.00 0.00 B-IO 69.76 0.00000% 69.76 0.00 0.00 0.00 R-1 50.00 0.00000% 0.00 0.00 0.00 0.00 R-2 50.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,060,891,869.76 1,254,877.16 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 A (0.02) 0.00 1,197,211.92 0.00 577,490,388.56 M-1 0.00 0.00 25,296.33 0.00 10,608,900.00 M-2 0.00 0.00 32,368.93 0.00 10,608,900.00 B-IO 0.00 0.00 783,717.46 0.00 69.76 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 Totals (0.02) 0.00 2,038,594.64 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 A 1,039,673,900.00 2.27250% 14251.56380356 28.78815896 0.00000000 0.00000000 M-1 10,608,900.00 2.68250% 25000.00000000 59.61110483 0.00000000 0.00000000 M-2 10,608,900.00 3.43250% 25000.00000000 76.27777149 0.00000000 0.00000000 B-IO 69.76 0.00000% 10000000.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Classes A, M-1, M-2 are per $25,000 Denomination. Class B-IO are per $10,000,000 Denomination. Classes R-1, R-2 are per $50.00 Den
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A (0.00000048) 0.00000000 28.78815944 0.00000000 13886.33466128 M-1 0.00000000 0.00000000 59.61110483 0.00000000 25000.00000000 M-2 0.00000000 0.00000000 76.27777149 0.00000000 25000.00000000 B-IO 0.00000000 0.00000000 344819380.73400000 0.00000000 10000000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 17,395,078.29 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 31,993.13 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 17,427,071.42 Withdrawals Reimbursement for Servicer Advances 32,112.32 Payment of Service Fee 167,596.19 Payment of Interest and Principal 17,227,362.91 Total Withdrawals (Pool Distribution Amount) 17,427,071.42 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 155,419.91 External Master Servicing Fee- Washington Mutual 2,850.95 Master Servicing Fee- Wells Fargo 8,991.33 Trustee Fee - Deutsche Bank 334.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 167,596.19
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 0.00 0.00 0.00 0.00 Financial Guaranty 0.00 0.00 0.00 0.00 Yield Maintence Reserve Fund 0.00 0.00 0.00 0.00
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 23 0 0 0 23 8,411,683.86 0.00 0.00 0.00 8,411,683.86 60 Days 2 0 0 0 2 218,281.56 0.00 0.00 0.00 218,281.56 90 Days 2 0 0 0 2 162,097.08 0.00 0.00 0.00 162,097.08 120 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 27 0 0 0 27 8,792,062.50 0.00 0.00 0.00 8,792,062.50 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 1.558266% 0.000000% 0.000000% 0.000000% 1.558266% 1.398422% 0.000000% 0.000000% 0.000000% 1.398422% 60 Days 0.135501% 0.000000% 0.000000% 0.000000% 0.135501% 0.036289% 0.000000% 0.000000% 0.000000% 0.036289% 90 Days 0.135501% 0.000000% 0.000000% 0.000000% 0.135501% 0.026948% 0.000000% 0.000000% 0.000000% 0.026948% 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 1.829268% 0.000000% 0.000000% 0.000000% 1.829268% 1.461659% 0.000000% 0.000000% 0.000000% 1.461659%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 31,993.13
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.293946% Weighted Average Net Coupon 3.991449% Weighted Average Pass-Through Rate 3.967750% Weighted Average Maturity(Stepdown Calculation ) 313 Beginning Scheduled Collateral Loan Count 1,502 Number Of Loans Paid In Full 26 Ending Scheduled Collateral Loan Count 1,476 Beginning Scheduled Collateral Balance 616,549,256.01 Ending Scheduled Collateral Balance 601,360,487.74 Ending Actual Collateral Balance at 31-Oct-2004 601,512,359.32 Monthly P &I Constant 2,392,577.90 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 601,360,487.74 Scheduled Principal 186,387.13 Unscheduled Principal 15,002,381.14 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,652,299.18 Overcollateralized Amount 2,652,299.18 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 783,717.49
Beginning Class B-IO Notional Amount $613,897,026.59 Ending Class B-IO Notional Amount $598,708,258.32 Ending Scheduled Principal Balance of the T $35,198,327.93 Ending Scheduled Principal Balance of the F $179,477,976.68 Ending Scheduled Principal Balance of the 7 $44,501,931.11
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Coupon Rate 4.293946% Weighted Average Net Rate 3.991449% Weighted Average Pass Through Rate 3.967750% Weighted Average Maturity 313 Record Date 10/31/2004 Principal and Interest Constant 2,392,577.90 Beginning Loan Count 1,502 Loans Paid in Full 26 Ending Loan Count 1,476 Beginning Scheduled Balance 616,549,256.01 Ending Scheduled Balance 601,360,487.74 Ending Actual Balance at 31-Oct-2004 601,512,359.32 Scheduled Principal 186,387.13 Unscheduled Principal 15,002,381.14 Scheduled Interest 2,206,190.77 Servicing Fee 155,419.91 Master Servicing Fee 8,991.33 Trustee Fee 334.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 2,850.95 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 2,038,594.58 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 2,652,299.18 Overcollateralized Amount 2,652,299.18 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00
Miscellaneous Reporting Yield Maintenance Payment-Cash into Trst 0.00
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