-----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, GneSszz73p/OWimRmM3KVYHRayfSQ9ma5YwVrjsSYpH5cQqjyTE1OfTbumdyNHcH Xtbvxo03OVYSFy890Nq6Ig== 0001056404-04-001301.txt : 20040406 0001056404-04-001301.hdr.sgml : 20040406 20040406074334 ACCESSION NUMBER: 0001056404-04-001301 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: 20040406 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEAR STEARNS ARM TRUST 2003-4 CENTRAL INDEX KEY: 0001237229 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-44658-32 FILM NUMBER: 04719159 BUSINESS ADDRESS: STREET 1: 383 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10179 8-K 1 bst03004.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 2003-4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-32 54-2120395 Pooling and Servicing Agreement) (Commission 54-2120396 (State or other File Number) 54-2120397 jurisdiction IRS EIN 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) ITEM 5. Other Events On March 25, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2003-4 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 2003-4 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 2003-4 Trust 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: 4/1/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-4 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: 2003-4 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-1 07384MVM1 SEN 4.23414% 34,525,833.68 121,822.66 2,733,801.11 I-X-A-1 07384MVN9 SEN 0.17600% 0.00 5,063.79 0.00 II-A-1 07384MVP4 SEN 4.69272% 202,436,968.16 791,649.68 5,075,244.80 II-X-A-1 07384MVQ2 SEN 0.26600% 0.00 44,873.53 0.00 III-A-1 07384MVR0 SEN 4.98574% 201,462,497.17 837,033.29 658,137.94 III-X-A-1 07384MVS8 SEN 0.22400% 0.00 37,606.33 0.00 R-I 07384MVT6 SEN 4.50961% 0.00 0.00 0.00 R-II 07384MVU3 SEN 4.50961% 0.00 0.00 0.00 R-III 07384MVV1 SEN 4.50961% 0.00 0.00 0.00 B-1 07384MVW9 SUB 5.02502% 5,940,230.17 24,874.83 4,202.36 B-2 07384MVX7 SUB 5.02502% 4,525,785.53 18,951.82 3,201.73 B-3 07384MVY5 SUB 5.02502% 3,111,639.06 13,030.05 2,201.30 B-4 07384MVZ2 SUB 5.02502% 1,414,345.25 5,922.60 1,000.57 B-5 07384MWA6 SUB 5.02502% 848,547.52 3,553.31 600.30 B-6 07384MWB4 SUB 5.02502% 1,131,641.18 4,738.77 800.57 Totals 455,397,487.72 1,909,120.66 8,479,190.68
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 31,792,032.57 2,855,623.77 0.00 I-X-A-1 0.00 0.00 5,063.79 0.00 II-A-1 0.00 197,361,723.36 5,866,894.48 0.00 II-X-A-1 0.00 0.00 44,873.53 0.00 III-A-1 0.00 200,804,359.23 1,495,171.23 0.00 III-X-A-1 0.00 0.00 37,606.33 0.00 R-I 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 5,936,027.81 29,077.19 0.00 B-2 0.00 4,522,583.81 22,153.55 0.00 B-3 0.00 3,109,437.75 15,231.35 0.00 B-4 0.00 1,413,344.68 6,923.17 0.00 B-5 0.00 847,947.22 4,153.61 0.00 B-6 0.00 1,130,840.61 5,539.34 0.00 Totals 0.00 446,918,297.04 10,388,311.34 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) I-A-1 50,011,600.00 34,525,833.68 42,633.86 2,691,167.25 0.00 0.00 I-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 II-A-1 247,776,800.00 202,436,968.16 148,075.55 4,927,169.25 0.00 0.00 II-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 III-A-1 254,370,500.00 201,462,497.17 117,040.40 541,097.54 0.00 0.00 III-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 R-I 100.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 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 5,977,000.00 5,940,230.17 4,202.36 0.00 0.00 0.00 B-2 4,553,800.00 4,525,785.53 3,201.73 0.00 0.00 0.00 B-3 3,130,900.00 3,111,639.06 2,201.30 0.00 0.00 0.00 B-4 1,423,100.00 1,414,345.25 1,000.57 0.00 0.00 0.00 B-5 853,800.00 848,547.52 600.30 0.00 0.00 0.00 B-6 1,138,646.00 1,131,641.18 800.57 0.00 0.00 0.00 Totals 569,236,346.00 455,397,487.72 319,756.64 8,159,434.04 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 2,733,801.11 31,792,032.57 0.63569317 2,733,801.11 I-X-A-1 0.00 0.00 0.00000000 0.00 II-A-1 5,075,244.80 197,361,723.36 0.79653028 5,075,244.80 II-X-A-1 0.00 0.00 0.00000000 0.00 III-A-1 658,137.94 200,804,359.23 0.78941685 658,137.94 III-X-A-1 0.00 0.00 0.00000000 0.00 R-I 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 4,202.36 5,936,027.81 0.99314502 4,202.36 B-2 3,201.73 4,522,583.81 0.99314502 3,201.73 B-3 2,201.30 3,109,437.75 0.99314502 2,201.30 B-4 1,000.57 1,413,344.68 0.99314502 1,000.57 B-5 600.30 847,947.22 0.99314502 600.30 B-6 800.57 1,130,840.61 0.99314502 800.57 Totals 8,479,190.68 446,918,297.04 0.78511905 8,479,190.68
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 50,011,600.00 690.35651089 0.85247942 53.81086088 0.00000000 I-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 247,776,800.00 817.01340949 0.59761669 19.88551491 0.00000000 II-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 254,370,500.00 792.00417175 0.46011782 2.12720241 0.00000000 III-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 993.84811277 0.70308851 0.00000000 0.00000000 B-2 4,553,800.00 993.84811147 0.70308973 0.00000000 0.00000000 B-3 3,130,900.00 993.84811396 0.70308857 0.00000000 0.00000000 B-4 1,423,100.00 993.84811327 0.70309184 0.00000000 0.00000000 B-5 853,800.00 993.84811431 0.70309206 0.00000000 0.00000000 B-6 1,138,646.00 993.84811434 0.70308946 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-1 0.00000000 54.66334031 635.69317058 0.63569317 54.66334031 I-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 20.48313159 796.53027790 0.79653028 20.48313159 II-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 0.00000000 2.58732023 789.41685152 0.78941685 2.58732023 III-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-I 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 0.70308851 993.14502426 0.99314502 0.70308851 B-2 0.00000000 0.70308973 993.14502394 0.99314502 0.70308973 B-3 0.00000000 0.70308857 993.14502220 0.99314502 0.70308857 B-4 0.00000000 0.70309184 993.14502143 0.99314502 0.70309184 B-5 0.00000000 0.70309206 993.14502225 0.99314502 0.70309206 B-6 0.00000000 0.70308946 993.14502488 0.99314502 0.70308946 (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-1 50,011,600.00 4.23414% 34,525,833.68 121,822.66 0.00 0.00 I-X-A-1 0.00 0.17600% 34,525,833.68 5,063.79 0.00 0.00 II-A-1 247,776,800.00 4.69272% 202,436,968.16 791,649.68 0.00 0.00 II-X-A-1 0.00 0.26600% 202,436,968.16 44,873.53 0.00 0.00 III-A-1 254,370,500.00 4.98574% 201,462,497.17 837,033.30 0.00 0.00 III-X-A-1 0.00 0.22400% 201,462,497.17 37,606.33 0.00 0.00 R-I 100.00 4.50961% 0.00 0.00 0.00 0.00 R-II 50.00 4.50961% 0.00 0.00 0.00 0.00 R-III 50.00 4.50961% 0.00 0.00 0.00 0.00 B-1 5,977,000.00 5.02502% 5,940,230.17 24,874.83 0.00 0.00 B-2 4,553,800.00 5.02502% 4,525,785.53 18,951.82 0.00 0.00 B-3 3,130,900.00 5.02502% 3,111,639.06 13,030.05 0.00 0.00 B-4 1,423,100.00 5.02502% 1,414,345.25 5,922.60 0.00 0.00 B-5 853,800.00 5.02502% 848,547.52 3,553.31 0.00 0.00 B-6 1,138,646.00 5.02502% 1,131,641.18 4,738.77 0.00 0.00 Totals 569,236,346.00 1,909,120.67 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-1 0.00 0.00 121,822.66 0.00 31,792,032.57 I-X-A-1 0.00 0.00 5,063.79 0.00 31,792,032.57 II-A-1 0.00 0.00 791,649.68 0.00 197,361,723.36 II-X-A-1 0.00 0.00 44,873.53 0.00 197,361,723.36 III-A-1 0.00 0.00 837,033.29 0.00 200,804,359.23 III-X-A-1 0.00 0.00 37,606.33 0.00 200,804,359.23 R-I 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 24,874.83 0.00 5,936,027.81 B-2 0.00 0.00 18,951.82 0.00 4,522,583.81 B-3 0.00 0.00 13,030.05 0.00 3,109,437.75 B-4 0.00 0.00 5,922.60 0.00 1,413,344.68 B-5 0.00 0.00 3,553.31 0.00 847,947.22 B-6 0.00 0.00 4,738.77 0.00 1,130,840.61 Totals 0.00 0.00 1,909,120.66 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-1 50,011,600.00 4.23414% 690.35651089 2.43588807 0.00000000 0.00000000 I-X-A-1 0.00 0.17600% 690.35651089 0.10125231 0.00000000 0.00000000 II-A-1 247,776,800.00 4.69272% 817.01340949 3.19501132 0.00000000 0.00000000 II-X-A-1 0.00 0.26600% 817.01340949 0.18110465 0.00000000 0.00000000 III-A-1 254,370,500.00 4.98574% 792.00417175 3.29060681 0.00000000 0.00000000 III-X-A-1 0.00 0.22400% 792.00417175 0.14784077 0.00000000 0.00000000 R-I 100.00 4.50961% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 4.50961% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 4.50961% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 5.02502% 993.84811277 4.16175841 0.00000000 0.00000000 B-2 4,553,800.00 5.02502% 993.84811147 4.16175941 0.00000000 0.00000000 B-3 3,130,900.00 5.02502% 993.84811396 4.16175860 0.00000000 0.00000000 B-4 1,423,100.00 5.02502% 993.84811327 4.16175954 0.00000000 0.00000000 B-5 853,800.00 5.02502% 993.84811431 4.16175919 0.00000000 0.00000000 B-6 1,138,646.00 5.02502% 993.84811434 4.16175879 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-1 0.00000000 0.00000000 2.43588807 0.00000000 635.69317058 I-X-A-1 0.00000000 0.00000000 0.10125231 0.00000000 635.69317058 II-A-1 0.00000000 0.00000000 3.19501132 0.00000000 796.53027790 II-X-A-1 0.00000000 0.00000000 0.18110465 0.00000000 796.53027790 III-A-1 0.00000000 0.00000000 3.29060677 0.00000000 789.41685152 III-X-A-1 0.00000000 0.00000000 0.14784077 0.00000000 789.41685152 R-I 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 4.16175841 0.00000000 993.14502426 B-2 0.00000000 0.00000000 4.16175941 0.00000000 993.14502394 B-3 0.00000000 0.00000000 4.16175860 0.00000000 993.14502220 B-4 0.00000000 0.00000000 4.16175954 0.00000000 993.14502143 B-5 0.00000000 0.00000000 4.16175919 0.00000000 993.14502225 B-6 0.00000000 0.00000000 4.16175879 0.00000000 993.14502488 (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 10,493,872.89 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 14,120.51 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 10,507,993.40 Withdrawals Reimbursement for Servicer Advances 12,590.44 Payment of Service Fee 107,091.62 Payment of Interest and Principal 10,388,311.34 Total Withdrawals (Pool Distribution Amount) 10,507,993.40 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 106,742.60 Miscellaneous Fee 349.02 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 107,091.62
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 7 0 0 0 7 2,821,663.01 0.00 0.00 0.00 2,821,663.01 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 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 7 0 0 0 7 2,821,663.01 0.00 0.00 0.00 2,821,663.01 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 0.736067% 0.000000% 0.000000% 0.000000% 0.736067% 0.631007% 0.000000% 0.000000% 0.000000% 0.631007% 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 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 0.736067% 0.000000% 0.000000% 0.000000% 0.736067% 0.631007% 0.000000% 0.000000% 0.000000% 0.631007%
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 1 0 0 0 1 296,497.88 0.00 0.00 0.00 296,497.88 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 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 1 0 0 0 1 296,497.88 0.00 0.00 0.00 296,497.88 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.234568% 0.000000% 0.000000% 0.000000% 1.234568% 0.888917% 0.000000% 0.000000% 0.000000% 0.888917% 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 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 1.234568% 0.000000% 0.000000% 0.000000% 1.234568% 0.888917% 0.000000% 0.000000% 0.000000% 0.888917% 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 2 926,390.52 0.00 0.00 0.00 926,390.52 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 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 2 0 0 0 2 926,390.52 0.00 0.00 0.00 926,390.52 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.456621% 0.000000% 0.000000% 0.000000% 0.456621% 0.451704% 0.000000% 0.000000% 0.000000% 0.451704% 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 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 0.456621% 0.000000% 0.000000% 0.000000% 0.456621% 0.451704% 0.000000% 0.000000% 0.000000% 0.451704% 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 4 0 0 0 4 1,598,774.61 0.00 0.00 0.00 1,598,774.61 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 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 4 0 0 0 4 1,598,774.61 0.00 0.00 0.00 1,598,774.61 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.925926% 0.000000% 0.000000% 0.000000% 0.925926% 0.765970% 0.000000% 0.000000% 0.000000% 0.765970% 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 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 0.925926% 0.000000% 0.000000% 0.000000% 0.925926% 0.765970% 0.000000% 0.000000% 0.000000% 0.765970%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 14,120.51
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 519,224,746.00 91.21426445% 415,126,264.47 92.88638818% 96.205082% 0.000000% Class R-I 519,224,646.00 91.21424689% 415,126,264.47 92.88638818% 0.000000% 0.000000% Class R-II 519,224,596.00 91.21423810% 415,126,264.47 92.88638818% 0.000000% 0.000000% Class R-III 519,224,546.00 91.21422932% 415,126,264.47 92.88638818% 0.000000% 0.000000% Class 2A1 271,447,746.00 47.68629901% 217,764,541.11 48.72580569% 44.160582% 1,163.676927% Class B-1 11,100,246.00 1.95002411% 11,024,154.07 2.46670457% 1.328213% 34.999789% Class B-2 6,546,446.00 1.15004006% 6,501,570.26 1.45475589% 1.011949% 26.665892% Class B-3 3,415,546.00 0.60002247% 3,392,132.51 0.75900506% 0.695751% 18.333752% Class B-4 1,992,446.00 0.35002087% 1,978,787.83 0.44276277% 0.316242% 8.333311% Class B-5 1,138,646.00 0.20003045% 1,130,840.61 0.25303073% 0.189732% 4.999635% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.253031% 6.667621% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.312842% Weighted Average Net Coupon 5.031568% Weighted Average Pass-Through Rate 5.030649% Weighted Average Maturity(Stepdown Calculation ) 349 Beginning Scheduled Collateral Loan Count 967 Number Of Loans Paid In Full 16 Ending Scheduled Collateral Loan Count 951 Beginning Scheduled Collateral Balance 455,397,487.94 Ending Scheduled Collateral Balance 446,918,297.27 Ending Actual Collateral Balance at 29-Feb-2004 447,168,612.34 Monthly P &I Constant 2,335,968.90 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 10,305,233.14 Ending Scheduled Balance for Premium Loans 446,918,297.27 Scheduled Principal 319,756.63 Unscheduled Principal 8,159,434.04
Miscellaneous Reporting Senior Percentage Group 1 95.755098% Senior Percentage Group 2 96.375275% Senior Percentage Group 3 96.259805% Senior Prepayment Percentage Group 1 100.000000% Senior Prepayment Percentage Group 2 100.000000% Senior Prepayment Percentage Group 3 100.000000% Subordinate Percentage Group 1 4.244902% Subordinate Percentage Group 2 3.624725% Subordinate Percentage Group 3 3.740195% Subordinate Prepay Percent Group 1 0.000000% Subordinate Prepay Percent Group 2 0.000000% Subordinate Prepay Percent Group 3 0.000000% Average Loss Severity Group 1 0.00 Average Loss Severity Group 2 0.00 Average Loss Severity Group 3 0.00
Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.763800 5.239441 5.481097 Weighted Average Net Rate 4.410139 4.960712 5.209742 Weighted Average Maturity 350 350 351 Beginning Loan Count 87 447 433 Loans Paid In Full 6 9 1 Ending Loan Count 81 438 432 Beginning Scheduled Balance 36,056,392.07 210,050,730.22 209,290,365.65 Ending scheduled Balance 33,320,700.97 204,969,916.22 208,627,680.08 Record Date 02/29/2004 02/29/2004 02/29/2004 Principal And Interest Constant 187,661.72 1,070,768.47 1,077,538.71 Scheduled Principal 44,523.85 153,644.75 121,588.03 Unscheduled Principal 2,691,167.25 4,927,169.25 541,097.54 Scheduled Interest 143,137.87 917,123.72 955,950.68 Servicing Fees 10,626.45 48,789.41 47,326.74 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 0.00 349.02 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 132,511.42 867,985.29 908,623.94 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 4.410139 4.958718 5.209742
Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 5.312842 Weighted Average Net Rate 5.031568 Weighted Average Maturity 349 Beginning Loan Count 967 Loans Paid In Full 16 Ending Loan Count 951 Beginning Scheduled Balance 455,397,487.94 Ending scheduled Balance 446,918,297.27 Record Date 02/29/2004 Principal And Interest Constant 2,335,968.90 Scheduled Principal 319,756.63 Unscheduled Principal 8,159,434.04 Scheduled Interest 2,016,212.27 Servicing Fees 106,742.60 Master Servicing Fees 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 349.02 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 1,909,120.65 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 5.030649
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