-----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, N2cJUjZH/2M1Ss5jbfT6VV77ZRt36csG0M1aowtqJbQlr1pVE04Opl/EGMrv2UXM nzsAkw9uRfh+7NB7lvc1vA== 0001056404-03-001581.txt : 20030908 0001056404-03-001581.hdr.sgml : 20030908 20030908110828 ACCESSION NUMBER: 0001056404-03-001581 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: PROVIDENT FUNDING MORTGAGE PASS-THROUGH CERT SERIES 2003-1 CENTRAL INDEX KEY: 0001255914 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-104153-07 FILM NUMBER: 03885300 BUSINESS ADDRESS: STREET 1: C/O NORWEST BANK MINNESOTA NA STREET 2: 11000 BROKEN LAND PARKWAY CITY: COLUMBIA STATE: MD ZIP: 21044 8-K 1 prf03001.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 PROVIDENT FUNDING MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-104153-07 54-2121751 Pooling and Servicing Agreement) (Commission 54-2121752 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, 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 August 25, 2003 a distribution was made to holders of PROVIDENT FUNDING MORTGAGE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2003-1 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 2003-1 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. PROVIDENT FUNDING MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/4/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the August 25, 2003 distribution.
Provident Residential Funding Mortgage Pass-Through Certificates Record Date: 7/31/03 Distribution Date: 8/25/03 PRF Series: 2003-1 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 A 743873AA9 SEQ 3.79900% 364,182,000.00 1,152,939.52 12,931,552.46 AIO 743873AH4 IO 0.56276% 0.00 170,790.48 0.00 AR 743873AJ0 SEQ 4.36176% 100.00 0.36 100.00 B1 743873AB7 SUB 4.36176% 3,754,000.00 13,645.05 4,883.38 B2 743873AC5 SUB 4.36176% 3,003,000.00 10,915.31 3,906.44 B3 743873AD3 SUB 4.36176% 2,064,000.00 7,502.23 2,684.95 B4 743873AE1 SUB 4.36176% 750,000.00 2,726.10 975.64 B5 743873AF8 SUB 4.36176% 563,000.00 2,046.39 732.38 B6 743873AG6 SUB 4.36176% 1,130,223.00 4,108.14 1,470.25 Totals 375,446,323.00 1,364,673.58 12,946,305.50
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 351,250,447.54 14,084,491.98 0.00 AIO 0.00 0.00 170,790.48 0.00 AR 0.00 0.00 100.36 0.00 B1 0.00 3,749,116.62 18,528.43 0.00 B2 0.00 2,999,093.56 14,821.75 0.00 B3 0.00 2,061,315.05 10,187.18 0.00 B4 0.00 749,024.36 3,701.74 0.00 B5 0.00 562,267.62 2,778.77 0.00 B6 0.00 1,128,752.75 5,578.39 0.00 Totals 0.00 362,500,017.50 14,310,979.08 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 364,182,000.00 364,182,000.00 473,741.46 12,457,811.00 0.00 0.00 AIO 0.00 0.00 0.00 0.00 0.00 0.00 AR 100.00 100.00 3.66 96.34 0.00 0.00 B1 3,754,000.00 3,754,000.00 4,883.38 0.00 0.00 0.00 B2 3,003,000.00 3,003,000.00 3,906.44 0.00 0.00 0.00 B3 2,064,000.00 2,064,000.00 2,684.95 0.00 0.00 0.00 B4 750,000.00 750,000.00 975.64 0.00 0.00 0.00 B5 563,000.00 563,000.00 732.38 0.00 0.00 0.00 B6 1,130,223.00 1,130,223.00 1,470.25 0.00 0.00 0.00 Totals 375,446,323.00 375,446,323.00 488,398.16 12,457,907.34 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 12,931,552.46 351,250,447.54 0.96449151 12,931,552.46 AIO 0.00 0.00 0.00000000 0.00 AR 100.00 0.00 0.00000000 100.00 B1 4,883.38 3,749,116.62 0.99869915 4,883.38 B2 3,906.44 2,999,093.56 0.99869915 3,906.44 B3 2,684.95 2,061,315.05 0.99869915 2,684.95 B4 975.64 749,024.36 0.99869915 975.64 B5 732.38 562,267.62 0.99869915 732.38 B6 1,470.25 1,128,752.75 0.99869915 1,470.25 Totals 12,946,305.50 362,500,017.50 0.96551756 12,946,305.50
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 364,182,000.00 1000.00000000 1.30083711 34.20765167 0.00000000 AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 AR 100.00 1000.00000000 36.60000000 963.40000000 0.00000000 B1 3,754,000.00 1000.00000000 1.30084710 0.00000000 0.00000000 B2 3,003,000.00 1000.00000000 1.30084582 0.00000000 0.00000000 B3 2,064,000.00 1000.00000000 1.30084787 0.00000000 0.00000000 B4 750,000.00 1000.00000000 1.30085333 0.00000000 0.00000000 B5 563,000.00 1000.00000000 1.30085258 0.00000000 0.00000000 B6 1,130,223.00 1000.00000000 1.30084948 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 A 0.00000000 35.50848878 964.49151122 0.96449151 35.50848878 AIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000 B1 0.00000000 1.30084710 998.69915290 0.99869915 1.30084710 B2 0.00000000 1.30084582 998.69915418 0.99869915 1.30084582 B3 0.00000000 1.30084787 998.69915213 0.99869915 1.30084787 B4 0.00000000 1.30085333 998.69914667 0.99869915 1.30085333 B5 0.00000000 1.30085258 998.69914742 0.99869915 1.30085258 B6 0.00000000 1.30084948 998.69915052 0.99869915 1.30084948 (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 A 364,182,000.00 3.79900% 364,182,000.00 1,152,939.52 0.00 0.00 AIO 0.00 0.56276% 364,182,000.00 170,790.48 0.00 0.00 AR 100.00 4.36176% 100.00 0.36 0.00 0.00 B1 3,754,000.00 4.36176% 3,754,000.00 13,645.05 0.00 0.00 B2 3,003,000.00 4.36176% 3,003,000.00 10,915.31 0.00 0.00 B3 2,064,000.00 4.36176% 2,064,000.00 7,502.23 0.00 0.00 B4 750,000.00 4.36176% 750,000.00 2,726.10 0.00 0.00 B5 563,000.00 4.36176% 563,000.00 2,046.39 0.00 0.00 B6 1,130,223.00 4.36176% 1,130,223.00 4,108.14 0.00 0.00 Totals 375,446,323.00 1,364,673.58 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 0.00 0.00 1,152,939.52 0.00 351,250,447.54 AIO 0.00 0.00 170,790.48 0.00 351,250,447.54 AR 0.00 0.00 0.36 0.00 0.00 B1 0.00 0.00 13,645.05 0.00 3,749,116.62 B2 0.00 0.00 10,915.31 0.00 2,999,093.56 B3 0.00 0.00 7,502.23 0.00 2,061,315.05 B4 0.00 0.00 2,726.10 0.00 749,024.36 B5 0.00 0.00 2,046.39 0.00 562,267.62 B6 0.00 0.00 4,108.14 0.00 1,128,752.75 Totals 0.00 0.00 1,364,673.58 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 A 364,182,000.00 3.79900% 1000.00000000 3.16583335 0.00000000 0.00000000 AIO 0.00 0.56276% 1000.00000000 0.46897013 0.00000000 0.00000000 AR 100.00 4.36176% 1000.00000000 3.60000000 0.00000000 0.00000000 B1 3,754,000.00 4.36176% 1000.00000000 3.63480288 0.00000000 0.00000000 B2 3,003,000.00 4.36176% 1000.00000000 3.63480186 0.00000000 0.00000000 B3 2,064,000.00 4.36176% 1000.00000000 3.63480136 0.00000000 0.00000000 B4 750,000.00 4.36176% 1000.00000000 3.63480000 0.00000000 0.00000000 B5 563,000.00 4.36176% 1000.00000000 3.63479574 0.00000000 0.00000000 B6 1,130,223.00 4.36176% 1000.00000000 3.63480481 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 A 0.00000000 0.00000000 3.16583335 0.00000000 964.49151122 AIO 0.00000000 0.00000000 0.46897013 0.00000000 964.49151122 AR 0.00000000 0.00000000 3.60000000 0.00000000 0.00000000 B1 0.00000000 0.00000000 3.63480288 0.00000000 998.69915290 B2 0.00000000 0.00000000 3.63480186 0.00000000 998.69915418 B3 0.00000000 0.00000000 3.63480136 0.00000000 998.69915213 B4 0.00000000 0.00000000 3.63480000 0.00000000 998.69914667 B5 0.00000000 0.00000000 3.63479574 0.00000000 998.69914742 B6 0.00000000 0.00000000 3.63480481 0.00000000 998.69915052 (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 13,007,853.56 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1,421,547.56 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 14,429,401.12 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 118,422.04 Payment of Interest and Principal 14,310,979.08 Total Withdrawals (Pool Distribution Amount) 14,429,401.12 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 117,326.98 Trustee Fee 1,095.06 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 118,422.04
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 640 0 0 0 640 288,218,961.46 0.00 0.00 0.00 288,218,961.46 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 640 0 0 0 640 288,218,961.46 0.00 0.00 0.00 288,218,961.46 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 78.914920% 0.000000% 0.000000% 0.000000% 78.914920% 79.427354% 0.000000% 0.000000% 0.000000% 79.427354% 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 78.914920% 0.000000% 0.000000% 0.000000% 78.914920% 79.427354% 0.000000% 0.000000% 0.000000% 79.427354%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1,421,547.56
CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 100,000.00 0.02663497% 100,000.00 0.02758621% Fraud 11,263,390.00 3.00000008% 11,263,390.00 3.10714191% Special Hazard 9,323,880.00 2.48341226% 9,323,880.00 2.57210470% Limit of Subordinate's Exposure to Certain Types of Losses
COLLATERAL STATEMENT Collateral Description 5/1 CMT ARM Weighted Average Gross Coupon 4.740264% Weighted Average Pass-Through Rate 4.361764% Weighted Average Maturity(Stepdown Calculation ) 355 Beginning Scheduled Collateral Loan Count 0 Number Of Loans Paid In Full 27 Ending Scheduled Collateral Loan Count 811 Beginning Scheduled Collateral Balance 375,446,323.00 Ending Scheduled Collateral Balance 362,500,018.46 Ending Actual Collateral Balance at 31-Jul-2003 362,871,161.55 Monthly P &I Constant 1,971,493.78 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 14,084,592.34 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans 362,500,018.46 Scheduled Principal 488,398.15 Unscheduled Principal 12,457,907.34
Miscellaneous Reporting Rolling 6 Month Delinquency Percentage 0.000000% Senior Percentage 96.999778% Senior Prepayment Percentage 100.000000% Subordinate Percentage 3.000222% Subordinate Prepayment Percentage 0.000000%
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