-----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, QJvxQehyvlPBVMK8c51iA1dtk18g3LhR2i6v4mOgvA+HH9dsh3y2eBqFA0XUt0hV 7LyuQCf4g7R1S7P3ULBE1Q== 0001056404-03-001585.txt : 20030908 0001056404-03-001585.hdr.sgml : 20030908 20030908111843 ACCESSION NUMBER: 0001056404-03-001585 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030725 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030908 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERRILL LYNCH MORT INVEST INC MORT LN AS BA CERT SE 03 WMC2 CENTRAL INDEX KEY: 0001225791 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: 333-101760-04 FILM NUMBER: 03885314 BUSINESS ADDRESS: STREET 1: 4LD FINANCIAL CENTER FLOOR 10 CITY: NEW YORK STATE: NY ZIP: 10281-1310 8-K 1 mlm03wm2.txt JULY 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): July 25, 2003 MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2003-WM2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-101760-04 54-2105550 Pooling and Servicing Agreement) (Commission 54-2105551 (State or other File Number) 54-6450606 jurisdiction IRS EIN of Incorporation) 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 July 25, 2003 a distribution was made to holders of MERRILL LYNCH MORTGAGE INVESTORS, INC., Mortgage Loan Asset-Backed Certificates, Series 2003-WM2 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-WM2 Trust, relating to the July 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-WM2 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 8/7/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2003-WM2 Trust, relating to the July 25, 2003 distribution. EX-99.1
Merrill Lynch Mortgage Loans, Inc. Mortgage Loan Asset-Backed Certificates Record Date: 6/30/03 Distribution Date: 7/25/03 MLM Series: 2003-WM2 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 589929Q68 SEN 1.43500% 0.00 0.00 0.00 A1 589929L97 SEN 1.43500% 290,509,575.22 347,401.03 4,711,488.97 A2 589929M21 SEN 1.37500% 301,373,730.77 345,324.06 7,119,264.39 M1 589929M39 SUB 1.88500% 54,878,000.00 86,204.19 0.00 M2 589929M47 SUB 2.93500% 39,737,000.00 97,190.08 0.00 B1 589929M54 SUB 3.88500% 18,923,000.00 61,263.21 0.00 B2 589929M62 SUB 4.03500% 11,353,000.00 38,174.46 0.00 N 589929Q76 SUB 8.50000% 43,713,662.57 309,638.44 3,422,495.59 X 589929Q84 SUB 0.00000% 18,922,432.98 0.00 0.00 Totals 779,410,401.54 1,285,195.47 15,253,248.95
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 0.00 285,798,086.25 5,058,890.00 0.00 A2 0.00 294,254,466.38 7,464,588.45 0.00 M1 0.00 54,878,000.00 86,204.19 0.00 M2 0.00 39,737,000.00 97,190.08 0.00 B1 0.00 18,923,000.00 61,263.21 0.00 B2 0.00 11,353,000.00 38,174.46 0.00 N 0.00 40,291,166.99 3,732,134.03 0.00 X 0.00 18,922,432.90 0.00 0.00 Totals 0.00 764,157,152.52 16,538,444.42 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 300,000,000.00 290,509,575.22 0.00 4,711,488.97 0.00 0.00 A2 313,083,000.00 301,373,730.77 0.00 7,119,264.39 0.00 0.00 M1 54,878,000.00 54,878,000.00 0.00 0.00 0.00 0.00 M2 39,737,000.00 39,737,000.00 0.00 0.00 0.00 0.00 B1 18,923,000.00 18,923,000.00 0.00 0.00 0.00 0.00 B2 11,353,000.00 11,353,000.00 0.00 0.00 0.00 0.00 N 53,500,000.00 43,713,662.57 0.00 0.00 0.00 0.00 X 18,923,216.00 18,922,432.98 0.00 0.00 0.00 0.00 Totals 810,397,316.00 779,410,401.54 0.00 11,830,753.36 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 4,711,488.97 285,798,086.25 0.95266029 4,711,488.97 A2 7,119,264.39 294,254,466.38 0.93986089 7,119,264.39 M1 0.00 54,878,000.00 1.00000000 0.00 M2 0.00 39,737,000.00 1.00000000 0.00 B1 0.00 18,923,000.00 1.00000000 0.00 B2 0.00 11,353,000.00 1.00000000 0.00 N 3,422,495.59 40,291,166.99 0.75310593 3,422,495.59 X 0.00 18,922,432.90 0.99995862 0.00 Totals 15,253,248.95 764,157,152.52 0.94294137 15,253,248.95
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 300,000,000.00 968.36525073 0.00000000 15.70496323 0.00000000 A2 313,083,000.00 962.60011170 0.00000000 22.73922375 0.00000000 M1 54,878,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 39,737,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 18,923,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 11,353,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 N 53,500,000.00 817.07780505 0.00000000 0.00000000 0.00000000 X 18,923,216.00 999.95862120 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 15.70496323 952.66028750 0.95266029 15.70496323 A2 0.00000000 22.73922375 939.86088794 0.93986089 22.73922375 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 N 0.00000000 63.97188019 753.10592505 0.75310593 63.97188019 X 0.00000000 0.00000000 999.95861697 0.99995862 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 1.43500% 0.00 0.00 0.00 0.00 A1 300,000,000.00 1.43500% 290,509,575.22 347,401.03 0.00 0.00 A2 313,083,000.00 1.37500% 301,373,730.77 345,324.07 0.00 0.00 M1 54,878,000.00 1.88500% 54,878,000.00 86,204.19 0.00 0.00 M2 39,737,000.00 2.93500% 39,737,000.00 97,190.08 0.00 0.00 B1 18,923,000.00 3.88500% 18,923,000.00 61,263.21 0.00 0.00 B2 11,353,000.00 4.03500% 11,353,000.00 38,174.46 0.00 0.00 N 53,500,000.00 8.50000% 43,713,662.57 309,638.44 0.00 0.00 X 18,923,216.00 0.00000% 18,922,432.98 0.00 0.00 0.00 Totals 810,397,316.00 1,285,195.48 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 0.00 347,401.03 0.00 285,798,086.25 A2 0.00 0.00 345,324.06 0.00 294,254,466.38 M1 0.00 0.00 86,204.19 0.00 54,878,000.00 M2 0.00 0.00 97,190.08 0.00 39,737,000.00 B1 0.00 0.00 61,263.21 0.00 18,923,000.00 B2 0.00 0.00 38,174.46 0.00 11,353,000.00 N 0.00 0.00 309,638.44 0.00 40,291,166.99 X 0.00 0.00 0.00 0.00 18,922,432.90 Totals 0.00 0.00 1,285,195.47 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 1.43500% 0.00000000 0.00000000 0.00000000 0.00000000 A1 300,000,000.00 1.43500% 968.36525073 1.15800343 0.00000000 0.00000000 A2 313,083,000.00 1.37500% 962.60011170 1.10297931 0.00000000 0.00000000 M1 54,878,000.00 1.88500% 1000.00000000 1.57083330 0.00000000 0.00000000 M2 39,737,000.00 2.93500% 1000.00000000 2.44583335 0.00000000 0.00000000 B1 18,923,000.00 3.88500% 1000.00000000 3.23749987 0.00000000 0.00000000 B2 11,353,000.00 4.03500% 1000.00000000 3.36249978 0.00000000 0.00000000 N 53,500,000.00 8.50000% 817.07780505 5.78763439 0.00000000 0.00000000 X 18,923,216.00 0.00000% 999.95862120 0.00000000 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 0.00000000 1.15800343 0.00000000 952.66028750 A2 0.00000000 0.00000000 1.10297927 0.00000000 939.86088794 M1 0.00000000 0.00000000 1.57083330 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.44583335 0.00000000 1000.00000000 B1 0.00000000 0.00000000 3.23749987 0.00000000 1000.00000000 B2 0.00000000 0.00000000 3.36249978 0.00000000 1000.00000000 N 0.00000000 0.00000000 5.78763439 0.00000000 753.10592505 X 0.00000000 0.00000000 0.00000000 0.00000000 999.95861697 (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 16,575,443.03 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 129,494.81 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 232,754.41 Total Deposits 16,937,692.25 Withdrawals Reimbursement for Servicer Advances 92,707.50 Payment of Service Fee 306,540.33 Payment of Interest and Principal 16,538,444.42 Total Withdrawals (Pool Distribution Amount) 16,937,692.25 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 306,540.33 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 306,540.33
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance 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 66 1 1 0 68 10,304,533.04 67,760.92 144,736.18 0.00 10,517,030.14 60 Days 20 4 7 0 31 2,454,439.57 865,747.18 1,048,324.83 0.00 4,368,511.58 90 Days 12 0 5 0 17 1,262,366.56 0.00 1,414,616.74 0.00 2,676,983.30 120 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 98 5 13 0 116 14,021,339.17 933,508.10 2,607,677.75 0.00 17,562,525.02 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 1.472886% 0.022316% 0.022316% 0.000000% 1.517518% 1.423542% 0.009361% 0.019995% 0.000000% 1.452897% 60 Days 0.446329% 0.089266% 0.156215% 0.000000% 0.691810% 0.339074% 0.119600% 0.144823% 0.000000% 0.603497% 90 Days 0.267797% 0.000000% 0.111582% 0.000000% 0.379380% 0.174392% 0.000000% 0.195425% 0.000000% 0.369818% 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 2.187012% 0.111582% 0.290114% 0.000000% 2.588708% 1.937008% 0.128961% 0.360243% 0.000000% 2.426212%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 129,494.81
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.799100% Weighted Average Net Coupon 7.299100% Weighted Average Pass-Through Rate 7.299100% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 4,540 Number Of Loans Paid In Full 59 Ending Scheduled Collateral Loan Count 4,481 Beginning Scheduled Collateral Balance 735,696,738.97 Ending Scheduled Collateral Balance 723,865,985.53 Ending Actual Collateral Balance at 30-Jun-2003 723,865,985.53 Monthly P &I Constant 5,359,415.92 Special Servicing Fee 0.00 Prepayment Penalties 232,754.41 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 723,865,985.53 Scheduled Principal 576,429.66 Unscheduled Principal 11,254,323.78 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.08 Specified O/C Amount 18,922,432.90 Overcollateralized Amount 18,922,432.90 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 3,732,134.03
Miscellaneous Reporting Did a Trigger Event occur? NO Cap Contract payments 0.00
Group Level Collateral Statement Group Group A Group A Group B Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 9.348424 7.530027 8.264614 Weighted Average Net Rate 8.848424 7.030027 7.764613 Weighted Average Maturity (4) (4) (4) Beginning Loan Count 1,051 1,498 610 Loans Paid In Full 10 19 7 Ending Loan Count 1,041 1,479 603 Beginning Scheduled Balance 82,053,891.39 278,829,257.06 73,348,285.03 Ending scheduled Balance 81,269,175.35 274,902,484.10 72,444,529.58 Record Date 06/30/2003 06/30/2003 06/30/2003 Principal And Interest Constant 695,275.51 1,967,609.24 571,192.85 Scheduled Principal 56,046.73 217,949.36 66,030.14 Unscheduled Principal 728,669.31 3,708,823.60 837,725.31 Scheduled Interest 639,228.78 1,749,659.88 505,162.71 Servicing Fees 34,189.11 116,178.87 30,561.81 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 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 605,039.67 1,633,481.01 474,600.90 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 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 8.848424 7.030027 7.764614
Group Level Collateral Statement Group Group B Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.519014 7.799100 Weighted Average Net Rate 7.019014 7.299100 Weighted Average Maturity (4) 1 Beginning Loan Count 1,381 4,540 Loans Paid In Full 23 59 Ending Loan Count 1,358 4,481 Beginning Scheduled Balance 301,465,305.49 735,696,738.97 Ending scheduled Balance 295,249,796.50 723,865,985.53 Record Date 06/30/2003 06/30/2003 Principal And Interest Constant 2,125,338.32 5,359,415.92 Scheduled Principal 236,403.43 576,429.66 Unscheduled Principal 5,979,105.56 11,254,323.78 Scheduled Interest 1,888,934.89 4,782,986.26 Servicing Fees 125,610.54 306,540.33 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 1,763,324.35 4,476,445.93 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.019014 7.299100
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