

                           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):  December 26, 2003


                            Financial Asset Securities Corp.,
             (as depositor, Litton Loan Servicing LP, as Servicer,
               and Deutsche Bank National Trust Company, as Trustee).

            FINANCIAL ASSET SECURITIES CORP FINANCE AMER MO LN TR 2003-1
            (Exact name of Registrant as specified in its Charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-108195-06                          06-1442101
          (Commission File Number)        (I.R.S. Employer Identification No.)


               600 Steamboat Road
               Greenwich, Connecticut                    06830
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (203) 625-2700


     Item 5.  Other Events

     Attached hereto is a copy of the Monthly Remittance Statements to the
     Certificateholders which was derived from the monthly information
     submitted by the Master Servicer of the Trust to the Trustee.


     Item 7.  Financial Statement and Exhibits

     Exhibits:  (as noted in Item 5 above)

     Monthly Remittance Statement to the Certificateholders dated as of
     December 26, 2003.




                                     SIGNATURE


               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.


                                  Deutsche Bank National Trust Company,
                                  not in its individual capacity, but solely
                                  as a duly authorized agent of the Registrant
                                  pursuant to the Pooling and Servicing
                                  Agreement, dated as of November 1,2003.


          Date:  Jan 06, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of December 26, 2003.


	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates


	December 26, 2003 Distribution


	Contents



			TABLE OF CONTENTS

								Page

			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				14
			8.	Foreclosure Report				15
			9.	Prepayment Report				16
			10.	Prepayment Detail Report				19
			11.	Realized Loss Report				20
			12.	Realized Loss Detail Report				23
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				24
			14.	Additional Certificate Report				25



				Total Number of Pages				25



			CONTACTS

				Administrator: Eiko Akiyama
				Direct Phone Number: (714)247-6328
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705

				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000



ISSUANCE INFORMATION

	Seller:		Greenwich Capital Financial Products, In					Cut-Off Date: November 1, 2003
	Certificate Insurer(s):							Closing Date: November 14, 2003
								First Payment Date: December 26, 2003
	Servicer(s):		Litton Loan Servicing Master Servicer


								Distribution Date: December 26, 2003
	Underwriter(s):		Greenwich Capital Markets, Inc.					Record Date: December 24, 2003
								November 28, 2003






						Page 1 of 25					© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates
	Series 2003-1
	Certificate Payment Report for December 26, 2003 Distribution


	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)

REMIC I		324,540,673.06			324,540,673.06	1,908,631.46	4,712,702.73	6,621,334.19	-	-	319,827,970.33

M-1	MEZ	21,744,000.00			21,744,000.00	46,169.76	-	46,169.76	-	-	21,744,000.00
M-2	MEZ	17,850,000.00			17,850,000.00	58,726.50	-	58,726.50	-	-	17,850,000.00
M-3	MEZ	5,679,000.00			5,679,000.00	20,671.56	-	20,671.56	-	-	5,679,000.00
M-4	MEZ	5,679,000.00			5,679,000.00	27,297.06	-	27,297.06	-	-	5,679,000.00
M-5	MEZ	3,894,000.00			3,894,000.00	20,988.66	-	20,988.66	-	-	3,894,000.00
M-6	MEZ	3,894,000.00			3,894,000.00	20,988.66	-	20,988.66	-	-	3,894,000.00
C	SUB	6,166,573.06			6,166,573.06	1,262,111.82	300.27	1,262,412.09	-	-	6,166,272.79
P	EXE	100.00			100.00	-	-	-	-	-	100.00
R	R	-			-	-	-	-	-	-	-
R-X	R	-			-	-	-	-	-	-	-


Total		389,447,346.12			389,447,346.12	3,365,585.48	4,713,003.00	8,078,588.48	-	-	384,734,343.12


	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)

REMIC I	11/14/03	12/25/03		-30/360		324,540,673.06	1,000.000000	5.881024	14.521147	20.402171	985.478853

M-1	11/14/03	12/25/03		A-Act/360	317350AC0	21,744,000.00	1,000.000000	2.123333	-	2.123333	1,000.000000
M-2	11/14/03	12/25/03		A-Act/360	317350AD8	17,850,000.00	1,000.000000	3.290000	-	3.290000	1,000.000000
M-3	11/14/03	12/25/03		A-Act/360	317350AE6	5,679,000.00	1,000.000000	3.640000	-	3.640000	1,000.000000
M-4	11/14/03	12/25/03		A-Act/360	317350AF3	5,679,000.00	1,000.000000	4.806667	-	4.806667	1,000.000000
M-5	11/14/03	12/25/03		A-Act/360	317350AG1	3,894,000.00	1,000.000000	5.390000	-	5.390000	1,000.000000
M-6	11/14/03	12/25/03		A-Act/360	317350AH9	3,894,000.00	1,000.000000	5.390000	-	5.390000	1,000.000000
C				A-30/360		330,707,246.12	1,000.000000	3.816402	0.000908	3.817310	18.645714
P				-		100.00	1,000.000000	-	-	-	1,000.000000
R				-		-	-	-	-	-	-
R-X				-		-	-	-	-	-	-


							Page 2 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates
	Series 2003-1
	Certificate Payment Report for December 26, 2003 Distribution


	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)

REMIC I	324,540,673.06		1,908,631.46		4,438,716.12	273,986.61	4,712,702.73	6,621,334.19	-	-	319,827,970.33

M-1	21,744,000.00		46,169.76		-	-	-	46,169.76	-	-	21,744,000.00
M-2	17,850,000.00		58,726.50		-	-	-	58,726.50	-	-	17,850,000.00
M-3	5,679,000.00		20,671.56		-	-	-	20,671.56	-	-	5,679,000.00
M-4	5,679,000.00		27,297.06		-	-	-	27,297.06	-	-	5,679,000.00
M-5	3,894,000.00		20,988.66		-	-	-	20,988.66	-	-	3,894,000.00
M-6	3,894,000.00		20,988.66		-	-	-	20,988.66	-	-	3,894,000.00
C	6,166,573.06		1,262,111.82		300.27	-	300.27	1,262,412.09	-	-	6,166,272.79
P	100.00		-		-	-	-	-	-	-	100.00
R	-		-		-	-	-	-	-	-	-
R-X	-		-		-	-	-	-	-	-	-


Total	389,447,346.12		3,365,585.48		4,439,016.39	273,986.61	4,713,003.00	8,078,588.48	-	-	384,734,343.12


	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)

REMIC I	7.05723%	324,540,673.06			1,908,631.46	-	-	-	1,908,631.46	1,908,631.46	-

M-1	1.82000%	21,744,000.00			46,169.76	-	-	-	46,169.76	46,169.76	-
M-2	2.82000%	17,850,000.00			58,726.50	-	-	-	58,726.50	58,726.50	-
M-3	3.12000%	5,679,000.00			20,671.56	-	-	-	20,671.56	20,671.56	-
M-4	4.12000%	5,679,000.00			27,297.06	-	-	-	27,297.06	27,297.06	-
M-5	4.62000%	3,894,000.00			20,988.66	-	-	-	20,988.66	20,988.66	-
M-6	4.62000%	3,894,000.00			20,988.66	-	-	-	20,988.66	20,988.66	-
C		330,707,246.12			1,262,111.82	-	-	-	1,262,111.82	1,262,111.82	0.00
P		100.00			-	-	-	-	-	-	-
R		-			-	-	0.00	-	-	-	0.00
R-X		-			-	-	-	-	-	-	-


Total		713,988,019.18			3,365,585.48	-	0.00	-	3,365,585.48	3,365,585.48	0.01


							Page 3 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Collection Account Report for December 26, 2003 Distribution


	Collection Account Report


SUMMARY						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


PRINCIPAL - COLLECTIONS						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


				Page 4 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Collection Account Report for December 26, 2003 Distribution


	Collection Account Report


PRINCIPAL - WITHDRAWALS						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


PRINCIPAL - OTHER ACCOUNTS						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - COLLECTIONS						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


				Page 5 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Collection Account Report for December 26, 2003 Distribution


	Collection Account Report


INTEREST - WITHDRAWALS						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - OTHER ACCOUNTS						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - FEES						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


				Page 6 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Credit Enhancement Report for December 26, 2003 Distribution


	Credit Enhancement Report


ACCOUNTS						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


INSURANCE						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


STRUCTURAL FEATURES						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


				Page 7 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Collateral Report for December 26, 2003 Distribution


	Collateral Report


COLLATERAL						NON CONFORM.	CONFORM.	TOTAL
	Loan Count:
	*Original*					553	1478	2031
	Prior					-	-	-
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(5)	(18)	(23)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					548	1,460	2,008

	*Principal Balance:*
	Original					120,573,487.10	203,967,185.96	324,540,673.06
	Prior					-	-	-
	Prefunding					-	-	-
	Scheduled Principal					(113,136.08)	(160,850.53)	(273,986.61)
	Partial and Full Voluntary Prepayments					(1,439,633.24)	(2,999,082.88)	(4,438,716.12)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					119,020,717.78	200,807,252.55	319,827,970.33

PREFUNDING						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


	Conform.
	Non Conform.
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)


				Page 8 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Collateral Report for December 26, 2003 Distribution


	Collateral Report


CHARACTERISTICS						NON CONFORM.	CONFORM.	TOTAL

	Weighted Average Coupon Original					7.320240%	7.709256%	7.564729%
	Weighted Average Coupon Prior
	Weighted Average Coupon Current					7.320240%	7.709256%	7.564729%
	Weighted Average Months to Maturity Original					343	350	347
	Weighted Average Months to Maturity Prior					-	-	-
	Weighted Average Months to Maturity Current					343	350	347
	Weighted Avg Remaining Amortization Term Original					342	350	347
	Weighted Avg Remaining Amortization Term Prior					-	-	-
	Weighted Avg Remaining Amortization Term Current					342	350	347
	Weighted Average Seasoning Original					5.90	5.87	5.88
	Weighted Average Seasoning Prior					-	-	-
	Weighted Average Seasoning Current					5.90	5.87	5.88

Note: Original information refers to deal issue.


	Conform.
	Non Conform.
WAC by Groups					Total WAC


WARAT by Groups					Total WARAT


Note: Dates correspond to distribution dates.
				Page 9 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Collateral Report for December 26, 2003 Distribution


	Collateral Report


ARM CHARACTERISTICS						NON CONFORM.	CONFORM.	TOTAL

	Weighted Average Margin Original					4.187%	4.483%
	Weighted Average Margin Prior
	Weighted Average Margin Current					4.187%	4.483%
	Weighted Average Max Rate Original					9.155%	10.069%
	Weighted Average Max Rate Prior
	Weighted Average Max Rate Current					9.155%	10.069%
	Weighted Average Min Rate Original					4.997%	5.671%
	Weighted Average Min Rate Prior
	Weighted Average Min Rate Current					4.997%	5.671%
	Weighted Average Cap Up Original					0.692%	0.732%
	Weighted Average Cap Up Prior
	Weighted Average Cap Up Current					0.692%	0.732%
	Weighted Average Cap Down Original					0.692%	0.732%
	Weighted Average Cap Down Prior
	Weighted Average Cap Down Current					0.692%	0.732%

Note: Original information refers to deal issue.

SERVICING FEES / ADVANCES						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADDITIONAL COLLATERAL INFORMATION						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


				Page 10 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Delinquency Report for December 26, 2003 Distribution


	Delinquency Report - Total


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			7,458,924.96	2,115,380.03	183,750.76	9,758,055.75
		% Balance			2.33%	0.66%	0.06%	3.05%
		# Loans			54	19	2	75
		% # Loans			2.69%	0.95%	0.10%	3.74%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		-	7,458,924.96	2,115,380.03	183,750.76	9,758,055.75
		% Balance		0.00%	2.33%	0.66%	0.06%	3.05%
		# Loans		-	54	19	2	75
		% # Loans		0.00%	2.69%	0.95%	0.10%	3.74%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 11 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Delinquency Report for December 26, 2003 Distribution


	Delinquency Report - Conform. Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			5,229,330.32	2,027,037.56	183,750.76	7,440,118.64
		% Balance			2.60%	1.01%	0.09%	3.71%
		# Loans			43	17	2	62
		% # Loans			2.95%	1.16%	0.14%	4.25%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		-	5,229,330.32	2,027,037.56	183,750.76	7,440,118.64
		% Balance		0.00%	2.60%	1.01%	0.09%	3.71%
		# Loans		-	43	17	2	62
		% # Loans		0.00%	2.95%	1.16%	0.14%	4.25%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 12 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Delinquency Report for December 26, 2003 Distribution


	Delinquency Report - Non Conform. Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			2,229,594.64	88,342.47	-	2,317,937.11
		% Balance			1.87%	0.07%	0.00%	1.95%
		# Loans			11	2	-	13
		% # Loans			2.01%	0.36%	0.00%	2.37%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		-	2,229,594.64	88,342.47	-	2,317,937.11
		% Balance		0.00%	1.87%	0.07%	0.00%	1.95%
		# Loans		-	11	2	-	13
		% # Loans		0.00%	2.01%	0.36%	0.00%	2.37%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 13 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	REO Report for December 26, 2003 Distribution


	REO Report - Mortgage Loans that Become REO During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 0				Loan Group 1 = Conform. Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00				Loan Group 2 = Non Conform. Group; REO Book Value = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00

REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.

Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK


				Page 14 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Foreclosure Report for December 26, 2003 Distribution


	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 0				Loan Group 1 = Conform. Group
Total Original Principal Balance = 000.00				Loan Group 2 = Non Conform. Group
Total Current Balance = 000.00


Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK


				Page 15 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Prepayment Report for December 26, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENTS						NON CONFORM.	CONFORM.	TOTAL

	*Current*
	Number of Paid in Full Loans					5	18	23
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					5	18	23

	Paid in Full Balance					1,323,576.47	2,835,953.66	4,159,530.13
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					116,056.77	163,129.22	279,185.99
	Total Prepayment Amount					1,439,633.24	2,999,082.88	4,438,716.12

	*Cumulative*
	Number of Paid in Full Loans					5	18	23
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					5	18	23

	Paid in Full Balance					1,323,576.47	2,835,953.66	4,159,530.13
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					116,056.77	163,129.22	279,185.99
	Total Prepayment Amount					1,439,633.24	2,999,082.88	4,438,716.12

SPACE INTENTIONALLY LEFT BLANK


Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)


				Page 16 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Prepayment Report for December 26, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENT RATES						NON CONFORM.	CONFORM.	TOTAL

	SMM					1.20%	1.47%	1.37%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off					1.20%	1.47%	1.37%

	CPR					13.44%	16.30%	15.24%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off					13.44%	16.30%	15.24%

	PSA					1137.94%	1387.77%	1295.52%
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					1137.94%	1387.77%	1295.52%



	Conform.
	Non Conform.


CPR by Groups					Total CPR


PSA by Groups					Total PSA


				Page 17 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Prepayment Report for December 26, 2003 Distribution


	Prepayment Report - Voluntary Prepayments

	Conform.
	Non Conform.

CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off


PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off


PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) .......(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m))
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m)
Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.

				Page 18 of 25				© COPYRIGHT 2004 Deutsche Bank


	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Prepayment Detail Report for December 26, 2003 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 23						Loan Group 1 = Conform. Group
Total Original Principal Balance = 4,171,535.00						Loan Group 2 = Non Conform. Group
Total Prepayment Amount = 4,159,530.13


Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date

36260420 1			166,600.00	166,032.44	Nov-25-03	7.990%	CT - 85.00%	Paid Off - 360	Apr-25-03
36270650 1			153,637.00	152,952.40	Nov-06-03	6.630%	FL - 73.86%	Paid Off - 360	Apr-30-03
36271757 1			183,996.00	183,317.57	Nov-29-03	7.595%	NJ - 80.00%	Paid Off - 360	Apr-30-03
36272581 1			68,000.00	67,850.74	Nov-26-03	10.115%	IL - 80.00%	Paid Off - 360	Apr-24-03
36288918 1			50,600.00	50,381.68	Nov-05-03	7.740%	AZ - 63.25%	Paid Off - 360	Apr-28-03
36290237 1			128,000.00	127,735.04	Nov-03-03	10.390%	FL - 80.00%	Paid Off - 360	Apr-03-03
36331130 1			240,000.00	239,412.83	Nov-29-03	8.505%	CA - 75.00%	Paid Off - 360	May-20-03
36340420 1			183,000.00	182,490.23	Nov-04-03	7.865%	NJ - 84.33%	Paid Off - 360	May-20-03
36347243 1			171,576.00	171,119.79	Nov-13-03	6.630%	CA - 57.77%	Paid Off - 360	Jun-18-03
36350593 1			284,000.00	283,371.15	Nov-18-03	8.990%	CA - 80.00%	Paid Off - 360	May-13-03
36354496 1			102,000.00	101,691.31	Nov-18-03	7.450%	IL - 79.69%	Paid Off - 360	May-21-03
36374379 1			175,000.00	174,592.86	Nov-04-03	8.750%	MA - 77.43%	Paid Off - 360	May-21-03
36379238 1			53,998.00	53,469.86	Nov-25-03	9.990%	CA - 100.00%	Paid Off - 180	May-30-03
36385045 1			136,800.00	136,561.56	Nov-04-03	10.130%	DC - 84.97%	Paid Off - 360	May-27-03
36392470 1			247,000.00	246,523.27	Nov-25-03	8.240%	CA - 95.00%	Paid Off - 360	Jun-26-03
36434017 1			153,750.00	153,633.71	Nov-03-03	10.750%	MI - 75.00%	Paid Off - 360	Jul-02-03
36447639 1			172,500.00	172,176.44	Nov-10-03	8.380%	CA - 75.00%	Paid Off - 360	Jun-25-03
36471456 1			172,880.00	172,640.78	Nov-29-03	7.865%	IL - 80.00%	Paid Off - 360	Jul-03-03
36168706 2			409,000.00	407,615.09	Nov-26-03	6.880%	CA - 87.21%	Paid Off - 360	May-27-03
36242253 2			95,506.00	95,028.47	Nov-11-03	6.990%	MO - 69.16%	Paid Off - 360	Mar-20-03
36344018 2			339,593.00	338,355.00	Nov-29-03	6.500%	TX - 80.00%	Paid Off - 360	May-05-03
36344182 2			84,899.00	84,068.60	Nov-29-03	9.990%	TX - 100.00%	Paid Off - 180	May-05-03
36478287 2			399,200.00	398,509.31	Nov-14-03	6.740%	CA - 80.00%	Paid Off - 360	Jul-08-03


					Page 19 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Realized Loss Report for December 26, 2003 Distribution


	Realized Loss Report - Collateral


COLLATERAL REALIZED LOSSES						NON CONFORM.	CONFORM.	TOTAL

	*Current*
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-

	*Cumulative*
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-

	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.

SPACE INTENTIONALLY LEFT BLANK


	Conform.						3 Months Moving Average
	Non Conform.

Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation


				Page 20 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Realized Loss Report for December 26, 2003 Distribution


	Realized Loss Report - Collateral


DEFAULT SPEEDS						NON CONFORM.	CONFORM.	TOTAL

	MDR					0.00%	0.00%	0.00%
	3 Months Avg MDR
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%

	CDR					0.00%	0.00%	0.00%
	3 Months Avg CDR
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.00%	0.00%

	SDA					0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.00%	0.00%

	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off

	Conform.
	Non Conform.
CDR by Groups					Total CDR


SDA by Groups					Total SDA


				Page 21 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Realized Loss Report for December 26, 2003 Distribution


	Realized Loss Report - Collateral

	Conform.
	Non Conform.

CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off


SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off


COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) .......(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.

				Page 22 of 25				© COPYRIGHT 2004 Deutsche Bank


	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Realized Loss Detail Report for December 26, 2003 Distribution


	Realized Loss Detail Report - Loans Liquidated During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 0						Loan Group 1 = Conform. Group
Total Original Principal Balance = 0.00						Loan Group 2 = Non Conform. Group
Total Prior Principal Balance = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.

Loan Number			Original	Prior		Current	State &
&		Loan	Principal	Principal	Realized	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Balance	Loss/(Gain)	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK


					Page 23 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 26, 2003 Distribution


	Triggers, Adj. Rate Cert. and Miscellaneous Report


TRIGGER EVENTS						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADJUSTABLE RATE CERTIFICATE INFORMATION						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADDITIONAL INFORMATION						NON CONFORM.	CONFORM.	TOTAL
SPACE INTENTIONALLY LEFT BLANK


				Page 24 of 25				© COPYRIGHT 2004 Deutsche Bank
	Finance America Mortgage Loan Trust 2003-1
	Asset Backed Certificates

	Additional Certificate Report for December 26, 2003 Distribution


	Additional Certificate Report

SPACE INTENTIONALLY LEFT BLANK
	CLASS


				Page 25 of 25				© COPYRIGHT 2004 Deutsche Bank

FINANCIAL ASSET SECURITIES CORP FINANCE AMER MO LN TR 2003-1 8-K