8-K 1 thb02003.txt DECEMBER 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): December 26, 2002 THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-3 Trust (Exact name of registrant as specified in its charter) Delaware (governing law of 333-60904-07 Pooling and Servicing Agreement) (Commission (State or other File Number) Pending jurisdiction IRS EIN 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 December 26, 2002 a distribution was made to holders of THORNBURG MORTGAGE SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2002-3 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 2002-3 Trust, relating to the December 26, 2002 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. THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-3 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 1/3/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-3 Trust, relating to the December 26, 2002 distribution. EX-99.1

Thornburg Mortgage Home Loans, Inc. Mortgage Pass-Through Certificates Record Date: 1011/3130/02 Distribution Date: 1112/2526/02 THB Series: 2002-3 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-1 885220BP7 SEN 3.~~45001~~39090% ~~230~~227,~~910~~858,~~220~~245.4400 ~~663~~643,~~868~~870.8536 32,~~051~~951,~~975~~071.4424 AR 885220BT9 SEN 3.~~75799~~75548% 0.00 0.00 0.00 A-2 885220BQ5 SEN 5.~~24574~~21363% 6761,~~987~~364,~~769~~781.7332 ~~297~~266,~~205~~611.2322 61,~~622~~627,~~988~~341.4111 A-3 885220BR3 SEN 5.~~97297~~98124% ~~167~~157,~~153~~162,~~083~~362.5535 ~~832~~783,~~000~~354.1548 912,~~990~~174,~~721~~346.2099 A-4 885220BS1 SEN 6.~~76075~~69822% 13,~~679~~058,~~572~~357.5620 7772,~~070~~889.0984 ~~621~~1,~~215~~240,269.3643 B-1 885220BU6 SUB 4.~~71879~~68805% 6,232,000.00 24,~~506~~346.2659 0.00 B-2 885220BV4 SUB 4.~~71879~~68805% 4,154,000.00 16,~~334~~228.8846 0.00 B-3 885220BW2 SUB 4.~~71879~~68805% 2,335,000.00 9,~~181~~122.9816 0.00 B-4 885220BX0 SUB 4.~~71879~~68805% 777,000.00 3,~~055~~035.4251 0.00 B-5 885220BY8 SUB 4.~~71879~~68805% 518,000.00 2,~~036~~023.9467 0.00 B-6 885220BZ5 SUB 4.~~71879~~68805% 1,568,731.67 6,~~168~~128.7657 0.00 Totals ~~495~~475,~~315~~028,~~377~~477.9554 1,~~931~~827,~~428~~610.5686 2017,~~286~~993,~~900~~028.4177

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~227~~224,~~858~~907,~~245~~173.0076 3,~~715~~594,~~844~~941.2960 0.00 AR 0.00 0.00 0.00 0.00 A-2 0.00 6159,~~364~~737,~~781~~440.3221 61,~~920~~893,~~193~~952.6433 0.00 A-3 0.00 ~~157~~144,~~162~~988,~~362~~015.3536 1012,~~822~~957,~~721~~701.3547 0.00 A-4 0.00 1311,~~058~~818,~~357~~087.2077 ~~698~~1,~~285~~313,159.4527 0.00 B-1 0.00 6,232,000.00 24,~~506~~346.2659 0.00 B-2 0.00 4,154,000.00 16,~~334~~228.8846 0.00 B-3 0.00 2,335,000.00 9,~~181~~122.9816 0.00 B-4 0.00 777,000.00 3,~~055~~035.4251 0.00 B-5 0.00 518,000.00 2,~~036~~023.9467 0.00 B-6 0.00 1,568,731.67 6,~~168~~128.7657 0.33 Totals 0.00 ~~475~~457,~~028~~035,~~477~~448.5477 2219,~~218~~820,~~328~~639.9763 0.33 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-1 234,478,000.00 ~~230~~227,~~910~~858,~~220~~245.4400 2526,~~370~~723.3428 32,~~026~~924,~~605~~347.1096 0.00 0.00 AR 100.00 0.00 0.00 0.00 0.00 0.00 A-2 70,822,000.00 6761,~~987~~364,~~769~~781.7332 14,~~760~~476.5006 61,~~608~~612,~~227~~865.9105 0.00 0.00 A-3 184,475,000.00 ~~167~~157,~~153~~162,~~083~~362.5535 33,~~530~~808.50 912,~~957~~140,~~190~~538.7049 0.00 0.00 A-4 14,089,000.00 13,~~679~~058,~~572~~357.5620 7,~~325~~317.6719 ~~613~~1,~~889~~232,952.6924 0.00 0.00 B-1 6,232,000.00 6,232,000.00 0.00 0.00 0.00 0.00 B-2 4,154,000.00 4,154,000.00 0.00 0.00 0.00 0.00 B-3 2,335,000.00 2,335,000.00 0.00 0.00 0.00 0.00 B-4 777,000.00 777,000.00 0.00 0.00 0.00 0.00 B-5 518,000.00 518,000.00 0.00 0.00 0.00 0.00 B-6 1,568,732.00 1,568,731.67 0.00 0.00 0.00 0.00 Totals 519,448,832.00 ~~495~~475,~~315~~028,~~377~~477.9554 8082,~~987~~325.0103 2017,~~205~~910,~~913~~703.4074 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-1 32,~~051~~951,~~975~~071.4424 ~~227~~224,~~858~~907,~~245~~173.0076 0.~~97176812~~95918241 32,~~051~~951,~~975~~071.4424 AR 0.00 0.00 0.00000000 0.00 A-2 61,~~622~~627,~~988~~341.4111 6159,~~364~~737,~~781~~440.3221 0.~~86646496~~84348706 61,~~622~~627,~~988~~341.4111 A-3 912,~~990~~174,~~721~~346.2099 ~~157~~144,~~162~~988,~~362~~015.3536 0.~~85194396~~78594940 912,~~990~~174,~~721~~346.2099 A-4 ~~621~~1,~~215~~240,269.3643 1311,~~058~~818,~~357~~087.2077 0.~~92684770~~83881665 ~~621~~1,~~215~~240,269.3643 B-1 0.00 6,232,000.00 1.00000000 0.00 B-2 0.00 4,154,000.00 1.00000000 0.00 B-3 0.00 2,335,000.00 1.00000000 0.00 B-4 0.00 777,000.00 1.00000000 0.00 B-5 0.00 518,000.00 1.00000000 0.00 B-6 0.00 1,568,731.67 0.99999979 0.00 Totals 2017,~~286~~993,~~900~~028.4177 ~~475~~457,~~028~~035,~~477~~448.5477 0.~~91448560~~87984691 2017,~~286~~993,~~900~~028.4177

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 234,478,000.00 ~~984~~971.~~78416073~~76811897 0.~~10819923~~11396924 12.~~90784253~~47173705 0.00000000 AR 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A-2 70,822,000.00 ~~959~~866.~~98093431~~46495891 0.~~20841688~~20440061 9322.~~30755853~~77350329 0.00000000 A-3 184,475,000.00 ~~906~~851.~~10155062~~94396178 0.~~18176176~~18326874 5365.~~97582708~~81129416 0.00000000 A-4 14,089,000.00 ~~970~~926.~~93992192~~84769678 0.~~51995670~~51935482 4387.~~57226844~~51169281 0.00000000 B-1 6,232,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 4,154,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 2,335,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 777,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 518,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 1,568,732.00 999.99978964 0.00000000 0.00000000 0.00000000 (2) All Classes Are Per $1000 Denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 1312.~~01604176~~58570629 ~~971~~959.~~76811897~~18241268 0.~~97176812~~95918241 1312.~~01604176~~58570629 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 9322.~~51597540~~97790390 ~~866~~843.~~46495891~~48705501 0.~~86646496~~84348706 9322.~~51597540~~97790390 A-3 0.00000000 5465.~~15758883~~99456289 ~~851~~785.~~94396178~~94939889 0.~~85194396~~78594940 5465.~~15758883~~99456289 A-4 0.00000000 4488.~~09222514~~03104763 ~~926~~838.~~84769678~~81664916 0.~~92684770~~83881665 4488.~~09222514~~03104763 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-6 0.00000000 0.00000000 999.99978964 0.99999979 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 A-1 234,478,000.00 3.~~45001~~39090% ~~230~~227,~~910~~858,~~220~~245.4400 ~~663~~643,~~868~~870.8636 0.00 0.00 AR 100.00 3.~~75799~~75548% 0.00 0.00 0.00 0.00 A-2 70,822,000.00 5.~~24574~~21363% 6761,~~987~~364,~~769~~781.7332 ~~297~~266,~~205~~611.2322 0.00 0.00 A-3 184,475,000.00 5.~~97297~~98124% ~~167~~157,~~153~~162,~~083~~362.5535 ~~832~~783,~~000~~354.1549 0.00 0.00 A-4 14,089,000.00 6.~~76075~~69822% 13,~~679~~058,~~572~~357.5620 7772,~~070~~889.0984 0.00 0.00 B-1 6,232,000.00 4.~~71879~~68805% 6,232,000.00 24,~~506~~346.2659 0.00 0.00 B-2 4,154,000.00 4.~~71879~~68805% 4,154,000.00 16,~~334~~228.8846 0.00 0.00 B-3 2,335,000.00 4.~~71879~~68805% 2,335,000.00 9,~~181~~122.9816 0.00 0.00 B-4 777,000.00 4.~~71879~~68805% 777,000.00 3,~~055~~035.4251 0.00 0.00 B-5 518,000.00 4.~~71879~~68805% 518,000.00 2,~~036~~023.9467 0.00 0.00 B-6 1,568,732.00 4.~~71879~~68805% 1,568,731.67 6,~~168~~128.7657 0.00 0.00 Totals 519,448,832.00 1,~~931~~827,~~428~~610.5787 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-1 0.00 0.00 ~~663~~643,~~868~~870.8536 0.00 ~~227~~224,~~858~~907,~~245~~173.0076 AR 0.00 0.00 0.00 0.00 0.00 A-2 0.00 0.00 ~~297~~266,~~205~~611.2322 0.00 6159,~~364~~737,~~781~~440.3221 A-3 0.00 0.00 ~~832~~783,~~000~~354.1548 0.00 ~~157~~144,~~162~~988,~~362~~015.3536 A-4 0.00 0.00 7772,~~070~~889.0984 0.00 1311,~~058~~818,~~357~~087.2077 B-1 0.00 0.00 24,~~506~~346.2659 0.00 6,232,000.00 B-2 0.00 0.00 16,~~334~~228.8846 0.00 4,154,000.00 B-3 0.00 0.00 9,~~181~~122.9816 0.00 2,335,000.00 B-4 0.00 0.00 3,~~055~~035.4251 0.00 777,000.00 B-5 0.00 0.00 2,~~036~~023.9467 0.00 518,000.00 B-6 0.00 0.00 6,~~168~~128.7657 0.00 1,568,731.67 Totals 0.00 0.00 1,~~931~~827,~~428~~610.5686 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-1 234,478,000.00 3.~~45001~~39090% ~~984~~971.~~78416073~~76811897 2.~~83126289~~74597344 0.00000000 0.00000000 AR 100.00 3.~~75799~~75548% 0.00000000 0.00000000 0.00000000 0.00000000 A-2 70,822,000.00 5.~~24574~~21363% ~~959~~866.~~98093431~~46495891 43.~~19650998~~76452543 0.00000000 0.00000000 A-3 184,475,000.00 5.~~97297~~98124% ~~906~~851.~~10155062~~94396178 4.~~51009703~~24639919 0.00000000 0.00000000 A-4 14,089,000.00 6.~~76075~~69822% ~~970~~926.~~93992192~~84769678 5.~~47023139~~17352828 0.00000000 0.00000000 B-1 6,232,000.00 4.~~71879~~68805% 1000.00000000 3.~~93232670~~90670571 0.00000000 0.00000000 B-2 4,154,000.00 4.~~71879~~68805% 1000.00000000 3.~~93232547~~90670679 0.00000000 0.00000000 B-3 2,335,000.00 4.~~71879~~68805% 1000.00000000 3.~~93232548~~90670664 0.00000000 0.00000000 B-4 777,000.00 4.~~71879~~68805% 1000.00000000 3.~~93232947~~90670528 0.00000000 0.00000000 B-5 518,000.00 4.~~71879~~68805% 1000.00000000 3.~~93231660~~90669884 0.00000000 0.00000000 B-6 1,568,732.00 4.~~71879~~68805% 999.99978964 3.~~93232241~~90670299 0.00000000 0.00000000 (5) All Classes Are Per $1000 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-1 0.00000000 0.00000000 2.~~83126285~~74597344 0.00000000 ~~971~~959.~~76811897~~18241268 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 0.00000000 43.~~19650998~~76452543 0.00000000 ~~866~~843.~~46495891~~48705501 A-3 0.00000000 0.00000000 4.~~51009703~~24639913 0.00000000 ~~851~~785.~~94396178~~94939889 A-4 0.00000000 0.00000000 5.~~47023139~~17352828 0.00000000 ~~926~~838.~~84769678~~81664916 B-1 0.00000000 0.00000000 3.~~93232670~~90670571 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.~~93232547~~90670679 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 3.~~93232548~~90670664 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 3.~~93232947~~90670528 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 3.~~93231660~~90669884 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 3.~~93232241~~90670299 0.00000000 999.99978964 (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 2219,~~339~~953,~~918~~951.6332 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~16,722~~0.6600 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 2219,~~356~~953,~~641~~951.2932 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~138~~133,~~312~~311.3069 Payment of Interest and Principal 2219,~~218~~820,~~328~~639.9963 Total Withdrawals (Pool Distribution Amount) 2219,~~356~~953,~~641~~951.2932 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~128~~123,~~261~~672.5058 Master Servicing Fee- Wells Fargo 98,~~287~~906.1780 Trustee Fee - Deutsche Bank ~~763~~732.6331 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~138~~133,~~312~~311.3069

~~Delinquency~~Original ~~Status~~$ ByOriginal ~~Groups~~% ~~DELINQUENT~~Current ~~BANKRUPTCY~~$ ~~FORECLOSURE~~Current ~~REO~~% ~~Total~~Bankruptcy ~~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~~100,000.00 0.0001925117% ~~0.00 0.00 30 Days 6 0 0 0 6 2~~100,~~330,944~~000.~~33 0.~~00 0.0002188014% ~~0.00~~Fraud 210,~~330~~388,~~944~~976.~~33 60 Days 0 0 0 0 0 0.~~00 01.0099999988% 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 6 0 0 0 6 210,~~330~~388,~~944~~976.~~33 0.~~00 ~~0.00 0.00~~ 2~~,330,944~~.~~33 0-29 Days 0.000000~~27312258% ~~0.000000%~~Special ~~0.000000%~~Hazard 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.178782% 0.000000% 0.000000% 0.000000% 1.178782% 0.991346% 0.000000% 0.000000% 0.000000% 0.991346% 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 1.178782% 0.000000% 0.000000% 0.000000% 1.178782% 0.991346% 0.000000% 0.000000% 0.000000% 0.991346% 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 1 0 0 0 1 40010,000~~.00 0.00 0.00 0.00 400~~,000.00 ~~90 Days 0 0 0 0 0 0~~1.0092511743% ~~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 1 400~~10,000~~.00 0.00 0.00 0.00 400~~,000.00 ~~0-29 Days 0~~2.~~000000~~18801409% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.662252% 0.000000% 0.000000% 0.000000% 0.662252% 0.629290% 0.000000% 0.000000% 0.000000% 0.629290% 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 0.662252% 0.000000% 0.000000% 0.000000% 0.662252% 0.629290% 0.000000% 0.000000% 0.000000% 0.629290% 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 3 0 0 0 3 1,454,467.61 0.00 0.00 0.00 1,454,467.61 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 3 0 0 0 3 1,454,467.61 0.00 0.00 0.00 1,454,467.61 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.753769% 0.000000% 0.000000% 0.000000% 0.753769% 0.892884% 0.000000% 0.000000% 0.000000% 0.892884% 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 0.753769% 0.000000% 0.000000% 0.000000% 0.753769% 0.892884% 0.000000% 0.000000% 0.000000% 0.892884% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

Delinquency Status By Groups

~~COLLATERAL~~DELINQUENT ~~STATEMENT~~BANKRUPTCY ~~Collateral~~FORECLOSURE ~~Description~~REO ~~Mixed~~Total ~~ARM~~Group ~~Weighted~~1 ~~Average~~No ~~Gross~~of ~~Coupon~~Loans 5No 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.~~014359~~00 0.00 0.00 0.00 30 Days 1 0 0 0 1 210,000.00 0.00 0.00 0.00 210,000.00 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 1 210,000.00 0.00 0.00 0.00 210,000.00 0-29 Days 0.000000% ~~Weighted~~0.000000% ~~Average~~0.000000% ~~Net~~0.000000% ~~Coupon~~0.000000% 40.~~703620~~000000% ~~Weighted~~0.000000% ~~Average~~0.000000% ~~Pass-Through~~30 ~~Rate~~Days 40.~~679270~~199203% ~~Weighted~~0.000000% ~~Average~~0.000000% ~~Maturity(Stepdown~~0.000000% ~~Calculation~~0.199203% )0.090449% ~~361~~0.000000% ~~Beginning~~0.000000% ~~Scheduled~~0.000000% ~~Collateral~~0.090449% ~~Loan~~60 ~~Count~~Days ~~1,132~~0.000000% ~~Number~~0.000000% Of0.000000% 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 0.199203% 0.000000% 0.000000% 0.000000% 0.199203% 0.090449% 0.000000% 0.000000% 0.000000% 0.090449% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans ~~Paid~~No Inof ~~Full~~Loans 32No ~~Ending~~of ~~Scheduled~~Loans ~~Collateral~~No ~~Loan~~of ~~Count~~Loans ~~1,100~~No ~~Beginning~~of ~~Scheduled~~Loans ~~Collateral~~Principal Balance ~~495~~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 2,~~315~~900,~~377~~000.9500 ~~Ending~~0.00 ~~Scheduled~~0.00 ~~Collateral~~0.00 ~~Balance~~2,900,000.00 ~~475~~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 2,~~028~~900,~~477~~000.5400 ~~Ending~~0.00 ~~Actual~~0.00 ~~Collateral~~0.00 2,900,000.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.351351% 0.000000% 0.000000% 0.000000% 1.351351% 4.682055% 0.000000% 0.000000% 0.000000% 4.682055% 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 1.351351% 0.000000% 0.000000% 0.000000% 1.351351% 4.682055% 0.000000% 0.000000% 0.000000% 4.682055% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance atPrincipal 31Balance Principal Balance Principal Balance Principal Balance 0-~~Oct-2002~~29 ~~475~~Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 3 0 0 0 3 2,~~089~~165,~~127~~664.1971 ~~Monthly~~0.00 P0.00 &I0.00 ~~Constant~~ 2,~~150~~165,~~727~~664.8571 ~~Special~~60 ~~Servicing~~Days ~~Fee~~0 0 0 0 0 0.00 ~~Prepayment~~0.00 ~~Penalties~~0.00 0.00 ~~Realized~~0.00 ~~Loss~~90 ~~Amount~~Days 0 0 0 0 0 0.00 ~~Cumulative~~0.00 ~~Realized~~0.00 ~~Loss~~0.00 0.00 ~~Class~~120 ADays ~~Optimal~~0 ~~Amount~~0 ~~22,157,044~~0 0 0 0.7500 ~~Ending~~0.00 ~~Scheduled~~0.00 ~~Balance~~0.00 ~~for~~0.00 ~~Premium~~150 ~~Loans~~Days ~~475~~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 3 0 0 0 3 2,~~028~~165,~~477~~664.5471 ~~Scheduled~~0.00 ~~Principal~~0.00 800.00 2,~~987~~165,664.0171 ~~Unscheduled~~0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.800000% 0.000000% 0.000000% 0.000000% 0.800000% 1.436910% 0.000000% 0.000000% 0.000000% 1.436910% 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 0.800000% 0.000000% 0.000000% 0.000000% 0.800000% 1.436910% 0.000000% 0.000000% 0.000000% 1.436910% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 No of Loans No of Loans No of Loans No of Loans No of Loans Principal ~~20,205,913~~Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.4000 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

~~Miscellaneous~~COLLATERAL ~~Reporting~~STATEMENT ~~Senior~~Collateral ~~Percentage~~Description ~~Group~~Mixed 1ARM ~~100~~Weighted Average Gross Coupon 4.~~000000~~953613% ~~Senior~~Weighted ~~Prepayment~~Average ~~Percerntage~~Net ~~GRP~~Coupon 14.641194% ~~100~~Weighted Average Pass-Through Rate 4.~~000000~~616843% ~~Pro~~Weighted ~~Rata~~Average ~~Senior~~Maturity(Stepdown ~~Percentage~~Calculation ~~Group~~) 1360 ~~96.954977%~~Beginning ~~Senior~~Scheduled ~~Percentage~~Collateral ~~Group~~Loan 2Count 1,100~~.000000%~~ ~~Senior~~Number ~~Prepayment~~Of ~~Percerntage~~Loans ~~GRP~~Paid 2In ~~100.000000%~~Full ~~Pro~~37 ~~Rata~~Ending ~~Senior~~Scheduled ~~Percentage~~Collateral ~~Group~~Loan 2Count 961,063 Beginning Scheduled Collateral Balance 475,028,477.~~878395%~~54 ~~Senior~~Ending ~~Percentage~~Scheduled ~~Group~~Collateral 3Balance ~~100~~457,035,448.~~000000%~~77 ~~Senior~~Ending ~~Prepayment~~Actual ~~Percerntage~~Collateral ~~GRP~~Balance 3at ~~100~~30-Nov-2002 457,088,872.~~000000%~~16 ~~Pro~~Monthly ~~Rata~~P ~~Senior~~&I ~~Percentage~~Constant ~~Group~~2,043,247.62 3Special 96Servicing Fee 0.~~699353%~~00 ~~Senior~~Prepayment ~~Percentage~~Penalties ~~Group~~0.00 4Realized ~~100~~Loss Amount 0.~~000000%~~00 ~~Senior~~Cumulative ~~Prepayment~~Realized ~~Percerntage~~Loss ~~GRP~~0.00 4Class ~~100~~A Optimal Amount 19,759,754.~~000000%~~68 ~~Pro~~Ending ~~Rata~~Scheduled ~~Senior~~Balance ~~Percentage~~for ~~Group~~Premium 4Loans 96457,035,448.~~907862%~~77 Scheduled Principal 82,325.03 Unscheduled Principal 17,910,703.74

~~Group~~Miscellaneous ~~Level~~Reporting ~~Collateral~~Senior ~~Statement~~Percentage Group ~~Group~~ 1 ~~Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3~~100.~~842029~~000000% ~~5.524476~~Senior ~~6.247319~~Prepayment ~~Weighted~~Percerntage ~~Average~~GRP ~~Net~~1 ~~Rate 3~~100.~~474360~~000000% ~~5.270091~~Pro ~~5.997319~~Rata ~~Weighted~~Senior ~~Average~~Percentage ~~Maturity~~Group 361 363 360 Beginning Loan Count 512 159 416 Loans Paid In Full 3 8 18 Ending Loan Count 509 151 398 Beginning Scheduled Balance 238,162,318.79 70,178,464.18 172,858,534.30 Ending scheduled Balance 235,110,343.35 63,555,475.77 162,867,813.10 Record Date 10/31/2002 10/31/2002 10/31/2002 Principal And Interest Constant 787,892.48 337,843.21 933,449.17 Scheduled Principal 25,370.34 14,760.50 33,530.50 Unscheduled Principal 3,026,605.10 6,608,227.91 9,957,190.70 Scheduled Interest 762,522.14 323,082.71 899,918.67 Servicing Fees 72,970.73 14,876.94 36,012.20 Master Servicing Fees 4,465.55 1~~,315.84~~ ~~3,241~~96.10915449% ~~Trustee~~Senior ~~Fee~~Percentage ~~367.17~~Group ~~108.19~~2 ~~266~~100.50000000% ~~FRY~~Senior ~~Amount~~Prepayment ~~0.00~~Percerntage ~~0.00~~GRP ~~0.00~~2 ~~Special Hazard Fee 0~~100.00000000% ~~0.00~~Pro ~~0.00~~Rata ~~Other~~Senior ~~Fee~~Percentage ~~0.00~~Group ~~0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee~~ 2 096.00553099% ~~0.00~~Senior ~~0.00~~Percentage ~~Spread~~Group ~~Fee~~ 3 0100.00000000% ~~0.00~~Senior ~~0.00~~Prepayment ~~Net~~Percerntage ~~Interest~~GRP ~~684,718.69~~3 ~~306,781~~100.74000000% ~~860,398.87~~Pro ~~Realized~~Rata ~~Loss~~Senior ~~Amount~~Percentage ~~0.00~~Group ~~0.00~~3 096.00496883% ~~Cumulative~~Senior ~~Realized Loss 0.00 0.00 0.00~~ Percentage ofGroup ~~Cumulative~~4 ~~Losses 0~~100.00000000% ~~0.00~~Senior ~~0.00~~ Prepayment ~~Penalties~~Percerntage ~~0.00~~GRP ~~0.00~~4 0100.00000000% ~~Special~~Pro ~~Servicing~~Rata ~~Fee~~Senior ~~0.00~~Percentage ~~0.00~~Group ~~0.00~~4 ~~Pass-Through Rate 3~~96.~~450010 5.245742 5.972969~~765520%

Group Level Collateral Statement Group Group 41 ~~Total~~Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 73.~~159277~~783119 5.~~014359~~492819 6.255587 Weighted Average Net Rate 63.~~785096~~415248 45.~~703620~~237981 6.005586 Weighted Average Maturity ~~341~~360 ~~361~~362 359 Beginning Loan Count 45509 ~~1,132~~151 398 Loans Paid In Full 7 3 3223 Ending Loan Count 42502 ~~1,100~~148 375 Beginning Scheduled Balance 14235,~~116~~110,~~060~~343.6835 ~~495~~63,~~315~~555,~~377~~475.9577 162,867,813.10 Ending scheduled Balance 13232,~~494~~159,~~845~~272.3211 ~~475~~61,~~028~~928,~~477~~134.5466 150,693,466.11 Record Date 1011/3130/2002 1011/3130/2002 11/30/2002 Principal And Interest Constant 91767,~~542~~932.9902 2305,~~150~~391.69 882,~~727~~836.8569 Scheduled Principal 726,~~325~~723.6728 8014,~~987~~476.0106 33,808.50 Unscheduled Principal ~~613~~2,~~889~~924,347.6996 201,~~205~~612,~~913~~865.4005 12,140,538.49 Scheduled Interest 84741,~~217~~208.3274 2290,~~069~~915.63 849,~~740~~028.8419 Servicing Fees 472,~~401~~074.6398 ~~128~~13,~~261~~496.5087 33,930.79 Master Servicing Fees ~~264~~4,408.6833 91,~~287~~191.1767 3,053.77 Trustee Fee 21362.7745 ~~763~~97.6399 251.07 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 79664,~~529~~362.2498 1276,~~931~~129.10 811,~~428~~792.5456 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 63.~~760745~~390897 45.~~679270~~213628 5.981234

Filing Compare · THORNBURG MORTGAGE SECURITIES TRUST 2002-3