8-K 1 csfb03ar15_aug03.txt 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 CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. (as depositor under a Pooling and Servicing Agreement, dated as of May 1, 2003, providing for, inter alia, the issuance of CSFB Mortgage-Backed Pass-Through Certificates, Series 2003-AR15) CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. (Exact name of registrant as specified in its charter) Delaware 333-100669-17 13-3320910 State or Other Jurisdiction (Commission (IRS Employer of Incorporation ) File Number) Identification No.) 11 Madison Ave. New York, New York 10010 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code :(212)325-2000 N/A (Former name or former address, if changed since last report.) Item 5. Other Events. This report and exhibit is being filed, pursuant to the terms of the Pooling and Servicing Agreement, dated as of May 1, 2003 among Credit Suisse First Boston Mortgage Securities Corp., as depositor, DLJ Mortgage Capital, Inc. and Washington Mutual Bank, as sellers, Chase Manhattan Mortgage Corporation, as master servicer, Washington Mutual Mortgage Securities Corp. and Washington Mutual Bank, FA, as sellers and servicers, Fairbanks Capital Corp., as servicer and special servicer, Bank One, National Association, as trustee, and JPMorgan Chase Bank, as trust administrator. On August 25, 2003 distribution was made to the Certificateholders. Specific information with respect to the distribution is filed as Exhibit 99.1. Item 7. Financial Statements and Exhibits. (a) Not applicable. (b) Not applicable. (c) The following exhibits are filed as part of this report: Statement to Certificateholders on August 25, 2003 is filed as Exhibit 99.1 hereto. -2- CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. CSFB MORTGAGE-BACKED PASS-THROUGH CERTIFICATES, SERIES 2003-AR15 -------------------------------------------------------------------- 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. JPMORGAN CHASE BANK, not in its individual capacity but solely as Trust Administrator under the Agreement referred to herein Date: September 3, 2003 By: /s/ Mark Volosov -------------------------------- Mark Volosov Assistant Vice President -3- INDEX TO EXHIBITS Exhibit Number Description of Exhibits 99.1 Monthly Certificateholder Statement on August 25, 2003 -4- Exhibit 99.1 Monthly Certificateholder Statement on August 25, 2003 -5- CSFB Mortgage-Backed Pass-Through Certificates, Series 2003-AR15 Statement to Certificate Holders August 25, 2003 ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- IA1 107,293,000.00 100,761,789.63 3,674,084.40 369,144.46 4,043,228.86 0.00 0.00 97,087,705.23 IIA1 315,985,000.00 303,721,810.16 16,278,239.57 1,102,898.52 17,381,138.09 0.00 0.00 287,443,570.59 IIA2 6,320,000.00 6,074,724.56 325,580.25 24,757.21 350,337.46 0.00 0.00 5,749,144.31 IIIA1 39,435,500.00 37,925,323.52 1,907,592.36 160,220.03 2,067,812.39 0.00 0.00 36,017,731.16 IVA1 267,314,300.00 250,436,760.91 6,149,955.64 323,480.82 6,473,436.46 0.00 0.00 244,286,805.27 IVM1 5,540,100.00 5,540,100.00 0.00 10,018.35 10,018.35 0.00 0.00 5,540,100.00 IVM2 4,155,244.00 4,155,244.00 0.00 10,913.29 10,913.29 0.00 0.00 4,155,244.00 CB1 8,640,500.00 8,629,358.23 6,120.78 34,463.76 40,584.54 0.00 0.00 8,623,237.45 CB2 6,171,600.00 6,163,641.83 4,371.86 24,616.23 28,988.09 0.00 0.00 6,159,269.97 CB3 4,196,700.00 4,191,288.43 2,972.87 16,739.08 19,711.95 0.00 0.00 4,188,315.56 CB4 2,962,350.00 2,958,530.10 2,098.48 11,815.72 13,914.20 0.00 0.00 2,956,431.62 CB5 1,481,200.00 1,479,290.02 1,049.26 5,907.96 6,957.22 0.00 0.00 1,478,240.76 CB6 1,234,314.00 1,232,722.38 874.37 4,923.22 5,797.59 0.00 0.00 1,231,848.01 AR 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTALS 770,729,908.00 733,270,583.77 28,352,939.84 2,099,898.65 30,452,838.49 0.00 0.00 704,917,643.93 IIX 315,985,000.00 303,721,810.16 0.00 134,903.10 134,903.10 0.00 0.00 287,443,570.59 IVX 277,009,644.62 261,517,153.13 0.00 1,013,831.88 1,013,831.88 0.00 0.00 255,367,197.49 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ---------------------- BEGINNING ENDING CURRENT CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU RATE --------------------------------------------------------------------------------------------------------- ---------------------- IA1 22541QCS9 939.12733944 34.24346789 3.44052697 37.68399486 904.88387155 IA1 4.396243 % IIA1 22541QCT7 961.19059500 51.51586173 3.49035087 55.00621261 909.67473326 IIA1 4.357534 % IIA2 22541QCU4 961.19059494 51.51586234 3.91728006 55.43314241 909.67473259 IIA2 4.890534 % IIIA1 22541QCV2 961.70515196 48.37246542 4.06283754 52.43530296 913.33268654 IIIA1 5.069543 % IVA1 22541QCW0 936.86256556 23.00645959 1.21011416 24.21657375 913.85610598 IVA1 1.500000 % IVM1 22541QCY6 1,000.00000000 0.00000000 1.80833378 1.80833378 1,000.00000000 IVM1 2.100000 % IVM2 22541QCZ3 1,000.00000000 0.00000000 2.62638969 2.62638969 1,000.00000000 IVM2 3.050000 % CB1 22541QDA7 998.71051791 0.70838262 3.98863029 4.69701290 998.00213529 CB1 4.792535 % CB2 22541QDB5 998.71051753 0.70838356 3.98863018 4.69701374 998.00213397 CB2 4.792535 % CB3 22541QDC3 998.71051779 0.70838278 3.98862916 4.69701194 998.00213501 CB3 4.792535 % CB4 22541QCN0 998.71051699 0.70838355 3.98863065 4.69701419 998.00213344 CB4 4.792535 % CB5 22541QCP5 998.71051850 0.70838509 3.98863084 4.69701593 998.00213341 CB5 4.792535 % CB6 22541QCQ3 998.71052261 0.70838539 3.98862850 4.69701389 998.00213722 CB6 4.792535 % AR 22541QDD1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 4.396243 % TOTALS 951.39759877 36.78712808 2.72455841 39.51168649 914.61047069 IIX 22541QCX8 961.19059500 0.00000000 0.42692881 0.42692881 909.67473326 IIX 0.533000 % IVX 22541QCR1 944.07237513 0.00000000 3.65991546 3.65991546 921.87114221 IVX 0.000000 % ------------------------------------------------------------------------------------------- --------------------------------------- IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Jon Saraniti JPMorgan Chase Bank - Structured Finance Services 4 New York Plaza, 6th Floor New York, New York 10004 Tel: (212) 623-4527 Fax: 212) 623-5930 Email: jon.c.saraniti@chase.com Section 4.04(a)(i) Scheduled Principal Payments (Total) 487,486.26 Group 1 81,949.10 Group 2 225,547.54 Group 3 27,956.63 Group 4 152,032.99 Principal Prepayments (Total) 27,865,453.57 Group 1 3,596,478.23 Group 2 16,389,968.23 Group 3 1,881,084.46 Group 4 5,997,922.65 Repurchase Principal (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Substitution Amounts (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Net Liquidation Proceeds (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Insurance Proceeds (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Other Principal (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Section 4.04(a)(v) Beginning Number of Loans Outstanding (Total) 2,000 Group 1 267 Group 2 762 Group 3 97 Group 4 874 Beginning Aggregate Loan Balances (Total) 734,655,632.78 Group 1 106,400,533.62 Group 2 326,739,902.50 Group 3 39,998,043.53 Group 4 261,517,153.13 Ending Number of Loans Outstanding (Total) 1,941 Group 1 259 Group 2 733 Group 3 93 Group 4 856 Ending Aggregate Loan Balances (Total) 706,302,692.95 Group 1 102,722,106.29 Group 2 310,124,386.73 Group 3 38,089,002.44 Group 4 255,367,197.49 Servicing Fees (Total, including Master Servicing Fees and PMI Fees) 231,122.43 Group 1 29,913.38 Group 2 109,823.12 Group 3 13,782.39 Group 4 77,603.54 Trust Administrator Fees (Total) 744.31 Group 1 81.14 Group 2 412.77 Group 3 68.21 Group 4 182.19 Section 4.04(a)(viii) Current Advances (Total) N/A Group 1 N/A Group 2 N/A Group 3 N/A Group 4 N/A Outstanding Advances (Total) N/A Group 1 N/A Group 2 N/A Group 3 N/A Group 4 N/A Section 4.04(a)(ix) Delinquent Mortgage Loans Group 1 Principal Category Number Balance Percentage 1 Month 0 0.00 0.00 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 0 0.00 0.00 % Group 2 Principal Category Number Balance Percentage 1 Month 4 2,095,012.06 0.68 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 4 2,095,012.06 0.68 % Group 3 Principal Category Number Balance Percentage 1 Month 0 0.00 0.00 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 0 0.00 0.00 % Group 4 Principal Category Number Balance Percentage 1 Month 6 1,767,057.93 0.69 % 2 Month 3 544,744.47 0.21 % 3 Month 1 210,849.77 0.08 % Total 10 2,522,652.17 0.98 % Group Totals Principal Category Number Balance Percentage 1 Month 10 3,862,069.99 0.55 % 2 Month 3 544,744.47 0.08 % 3 Month 1 210,849.77 0.03 % Total 14 4,617,664.23 0.66 % * Delinquent Bankruptcies are included in the table above. Bankruptcies Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 0 0.00 0.00 % Group 4 Principal Number Balance Percentage 1 264,775.34 0.10 % Group Totals Principal Number Balance Percentage 1 264,775.34 0.04 % * Only Current Bankruptcies are reflected in the table above. Foreclosures Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 0 0.00 0.00 % Group 4 Principal Number Balance Percentage 4 852,117.91 0.33 % Group Totals Principal Number Balance Percentage 4 852,117.91 0.12 % Section 4.04(a)(xi) REO Properties Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 0 0.00 0.00 % Group 4 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % Section 4.04(a)(xii) Current Realized Losses (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Subsequent Losses (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Subsequent Loss Recoveries (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Current Period Net Loss(Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Cumulative Realized Losses (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Section 4.04(a)(xiii) Weighted Average Term to Maturity (Deal) 354 Group 1 354 Group 2 355 Group 3 354 Group 4 353 Group 5 Trigger Event Trigger Event Occurrence (Is Rolling 3 Month Delinquency Rate > 5.25% ?) NO Rolling 3 Month Delinquency Rate 0.60647 % Group 5 O/C Reporting Targeted Overcollateralization Amount 1,385,048.22 Ending Overcollateralization Amount 1,385,048.22 Ending Overcollateralization Deficiency 0.00 Group I Monthly Excess Interest 1,773.34 Group II Monthly Excess Interest 5,445.67 Group III Monthly Excess Interest 666.63 Overcollateralization Release Amount 0.00 Monthly Excess Interest 1,013,828.80 Payment to Class IV-X 1,013,828.80 Amounts on Deposit in the Basis Risk Reserve Fund in excess of Required Amount to Class IV-X 3.08 Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

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 22, 2003 Credit Suisse First Boston Mortgage Securities Corp., CSFB Series 2003-AR15, Mortgage-Backed Pass-Through Certificates, Series 2003-AR15

CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
(Exact name of registrant as specified in its charter)
Delaware	333-61840	13-3320910
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
11 Madison Avenue New York, New York 10010
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code (212) 325-2000

Item 5.

Other Events.

Credit Suisse First Boston Mortgage Securities Corp. (the “Company”) entered into a Pooling and Servicing Agreement dated as of May 1, 2003 (the “Agreement”) among the Company, in its capacity as depositor (in such capacity, the “Depositor”), DLJ Mortgage Capital, Inc. as a seller (in such capacity, a “Seller”), Chase Manhattan Mortgage Corporation in its capacity as master servicer (in such capacity, the “Master Servicer”), Washington Mutual Mortgage Securities Corp., in its capacity as a seller (in such capacity a “Seller”) and in its capacity as a servicer (in such capacity, a “Servicer”), Washington Mutual Bank, FA, in its capacity as a seller (in such capacity a “Seller”) and in its capacity as a servicer (in such capacity, a “Servicer”), Fairbanks Capital Corp., in its capacity as a servicer (in such capacity, a “Servicer”) and as special servicer (in such capacity, the “Special Servicer”), Bank One, National Association, as trustee (the “Trustee”) and JPMorgan Chase Bank, as trust administrator (the “Trust Administrator”). The Certificates were issued on May 29, 2003. The Pooling and Servicing Agreement is annexed hereto as Exhibit 99.1.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

99.1

The Pooling and Servicing Agreement dated as of May 1, 2003, by and among the Company, the Sellers, the Servicers, the Special Servicer, the Master Servicer, the Trustee and the Trust Administrator.

SIGNATURES

Filings Made by the Registrant. The registrant has duly caused this form to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on August 22, 2003.

CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

By: John P. Graham

Name: John P. Graham

Title: Vice President

Exhibit Index

Exhibit

Page

99.1

Pooling and Servicing Agreement dated as of May 1, 2003,

by and among the Company, the Seller, the Servicers, the Master

Servicer, the Special Servicer, the Trustee and the Trust Administrator.

EXHIBIT 99.1

Filing Compare · CSFB MORTGAGE-BACKED PASS-THROUGH CERTIFICATES SER AR15