8-K 1 sai03bc1.txt MAY 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 27, 2003 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-BC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-92140-25 Pooling and Servicing Agreement) (Commission 06-1683035 (State or other File Number) 06-1683039 jurisdiction 06-1683046 of Incorporation) IRS EIN 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 May 27, 2003 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2003-BC1 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-BC1 Trust, relating to the May 27, 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. STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-BC1 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: 5/28/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-BC1 Trust, relating to the May 27, 2003 distribution.

Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 24/2830/03 ~~3/25/03~~ Distribution Date: 5/27/03 SAIL Series: 2003-BC1 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 A1 86358EAA4 SEN 1.~~71750~~70000% ~~532~~512,~~358~~823,~~000~~093.0025 ~~711~~774,~~141~~932.5666 48,~~116~~670,~~555~~671.5302 A2 86358EAB2 SEN 1.~~67750~~66000% ~~315~~306,~~873~~995,~~000~~951.0030 ~~412~~452,~~126~~989.5257 15,~~788~~375,~~802~~498.8961 A-IO 86358EAC0 IO 6.00000% 0.00 1,555,~~090~~089.0097 0.00 M1 86358EAD8 MEZ 2.~~13750~~12000% 37,699,000.00 6271,~~674~~041.5967 0.00 M2 86358EAE6 MEZ 3.~~18750~~17000% 28,274,000.00 7079,~~095~~669.9685 0.00 M3 86358EAF3 MEZ 4.~~33750~~32000% 11,781,000.00 3945,~~744~~239.5104 0.00 M4 86358EAG1 MEZ 4.~~33750~~32000% 7,069,000.00 2327,~~848~~144.0696 0.00 B 86358EAH9 SEN 7.00000% 2,356,000.00 13,743.33 0.00 X SAI03BC1X SEN 0.00000% 7,069,245.00 2,~~809~~491,~~315~~234.1287 0.00 P SAI03BC1P SEN 0.00000% 100.00 0254,758.0081 0.00 R1 SAI03B1R1 SEN 0.00000% 0.00 0.00 0.00 R2 SAI03B1R2 SEN 0.00000% 0.00 0.00 0.00 R3 SAI03B1R3 SEN 0.00000% 0.00 0.00 0.00 Totals ~~942~~914,~~479~~067,~~345~~389.0055 5,~~697~~765,~~779~~844.6573 514,~~905~~046,~~358~~169.4263

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~528~~504,~~241~~152,~~444~~422.4723 49,~~827~~445,~~697~~603.0968 0.00 A2 0.00 ~~314~~301,~~084~~620,~~197~~452.1169 25,~~200~~828,~~929~~488.4118 0.00 A-IO 0.00 0.00 1,555,~~090~~089.0097 0.00 M1 0.00 37,699,000.00 6271,~~674~~041.5967 0.00 M2 0.00 28,274,000.00 7079,~~095~~669.9685 0.00 M3 0.00 11,781,000.00 3945,~~744~~239.5104 0.00 M4 0.00 7,069,000.00 2327,~~848~~144.0696 0.00 B 0.00 2,356,000.00 13,743.33 0.00 X 0.00 7,069,245.00 2,~~809~~491,~~315~~234.1287 0.00 P 0.00 100.00 0254,758.0081 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 Totals 0.00 ~~936~~900,~~573~~021,~~986~~219.5892 1119,~~603~~812,~~138~~014.0736 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) A1 532,358,000.00 ~~532~~512,~~358~~823,~~000~~093.0025 0.00 48,~~116~~670,~~555~~671.5302 0.00 0.00 A2 315,873,000.00 ~~315~~306,~~873~~995,~~000~~951.0030 0.00 15,~~788~~375,~~802~~498.8961 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 X 7,069,245.00 7,069,245.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 855,300,345.00 ~~855~~826,~~300~~888,~~345~~389.0055 0.00 514,~~905~~046,~~358~~169.4263 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 A1 48,~~116~~670,~~555~~671.5302 ~~528~~504,~~241~~152,~~444~~422.4723 0.~~99226732~~94701765 48,~~116~~670,~~555~~671.5302 A2 15,~~788~~375,~~802~~498.8961 ~~314~~301,~~084~~620,~~197~~452.1169 0.~~99433696~~95487887 15,~~788~~375,~~802~~498.8961 A-IO 0.00 0.00 0.00000000 0.00 X 0.00 7,069,245.00 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 Totals 514,~~905~~046,~~358~~169.4263 ~~849~~812,~~394~~842,~~986~~219.5892 0.~~99309557~~95035881 514,~~905~~046,~~358~~169.4263

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 532,358,000.00 ~~1000~~963.~~00000000~~30494376 0.00000000 716.~~73268276~~28729355 0.00000000 A2 315,873,000.00 ~~1000~~971.~~00000000~~89677909 0.00000000 517.~~66304461~~01791103 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 37,699,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 28,274,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 11,781,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 7,069,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 2,356,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 7,069,245.00 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are Per 1,000 Denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 716.~~73268276~~28729355 ~~992~~947.~~26731724~~01765021 0.~~99226732~~94701765 716.~~73268276~~28729355 A2 0.00000000 517.~~66304461~~01791103 ~~994~~954.~~33695539~~87886806 0.~~99433696~~95487887 517.~~66304461~~01791103 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 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 A1 532,358,000.00 1.~~71750~~70000% ~~532~~512,~~358~~823,~~000~~093.0025 ~~711~~774,~~141~~932.5667 0.00 0.00 A2 315,873,000.00 1.~~67750~~66000% ~~315~~306,~~873~~995,~~000~~951.0030 ~~412~~452,~~126~~989.5258 0.00 0.00 A-IO 0.00 6.00000% 311,018,000.00 1,555,090.00 0.00 0.00 M1 37,699,000.00 2.~~13750~~12000% 37,699,000.00 6271,~~674~~041.5967 0.00 0.00 M2 28,274,000.00 3.~~18750~~17000% 28,274,000.00 7079,~~095~~669.9685 0.00 0.00 M3 11,781,000.00 4.~~33750~~32000% 11,781,000.00 3945,~~744~~239.5104 0.00 0.00 M4 7,069,000.00 4.~~33750~~32000% 7,069,000.00 2327,~~848~~144.0696 0.00 0.00 B 2,356,000.00 7.00000% 2,356,000.00 13,743.33 0.00 0.00 X 7,069,245.00 0.00000% 7,069,245.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2 0.00 0.00000% 0.00 0.00 0.00 0.00 R3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 942,479,345.00 23,~~888~~019,~~464~~851.5310 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 A1 0.0002 0.00 ~~711~~774,~~141~~932.5666 0.00 ~~528~~504,~~241~~152,~~444~~422.4723 A2 0.0001 0.00 ~~412~~452,~~126~~989.5257 0.00 ~~314~~301,~~084~~620,~~197~~452.1169 A-IO 0.0003 0.00 1,555,~~090~~089.0097 0.00 311,018,000.00 M1 0.00 0.00 6271,~~674~~041.5967 0.00 37,699,000.00 M2 0.00 0.00 7079,~~095~~669.9685 0.00 28,274,000.00 M3 0.00 0.00 3945,~~744~~239.5104 0.00 11,781,000.00 M4 0.00 0.00 2327,~~848~~144.0696 0.00 7,069,000.00 B 0.00 0.00 13,743.33 0.00 2,356,000.00 X 0.00 0.00 2,~~809~~491,~~315~~234.1287 0.00 7,069,245.00 P 0.00 0.00 0254,758.0081 0.00 100.00 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 Totals 0.0006 0.00 5,~~697~~765,~~779~~844.6573 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 A1 532,358,000.00 1.~~71750~~70000% ~~1000~~963.~~00000000~~30494376 1.~~33583333~~45566080 0.00000000 0.00000000 A2 315,873,000.00 1.~~67750~~66000% ~~1000~~971.~~00000000~~89677909 1.~~30472221~~43408769 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 M1 37,699,000.00 2.~~13750~~12000% 1000.00000000 1.~~66250007~~88444441 0.00000000 0.00000000 M2 28,274,000.00 3.~~18750~~17000% 1000.00000000 2.~~47916673~~81777782 0.00000000 0.00000000 M3 11,781,000.00 4.~~33750~~32000% 1000.00000000 3.~~37361090~~84000000 0.00000000 0.00000000 M4 7,069,000.00 4.~~33750~~32000% 1000.00000000 3.~~37361154~~84000000 0.00000000 0.00000000 B 2,356,000.00 7.00000% 1000.00000000 5.83333192 0.00000000 0.00000000 X 7,069,245.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 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 A1 0.~~00000000~~00000004 0.00000000 1.~~33583333~~45566078 0.00000000 ~~992~~947.~~26731724~~01765021 A2 0.~~00000000~~00000003 0.00000000 1.~~30472221~~43408766 0.00000000 ~~994~~954.~~33695539~~87886806 A-IO 0.~~00000000~~00000010 0.00000000 54.~~00000000~~99999990 0.00000000 1000.00000000 M1 0.00000000 0.00000000 1.~~66250007~~88444441 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~47916673~~81777782 0.00000000 1000.00000000 M3 0.00000000 0.00000000 3.~~37361090~~84000000 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.~~37361154~~84000000 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.83333192 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~397~~352.~~39959784~~40465849 0.00000000 1000.00000000 P 0.00000000 0.00000000 02547588.~~00000000~~10000000 0.00000000 1000.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 1220,~~012~~209,~~723~~252.8277 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 1220,~~012~~209,~~723~~252.8277 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~409~~397,~~585~~238.7541 Payment of Interest and Principal 1119,~~603~~812,~~138~~014.0736 Total Withdrawals (Pool Distribution Amount) 1220,~~012~~209,~~723~~252.8277 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 0.0006

SERVICING FEES Gross Servicing Fee ~~392~~380,~~699~~861.6335 Credit Risk Manager Fee 11,~~780~~425.9984 Securites Adminstrator Fee 54,~~105~~951.1322 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~409~~397,~~585~~238.7541

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 42,~~077~~865.8798 42,~~077~~865.8798 1,000.00 Financial Guaranty 0.00 0.00 0.00 0.00

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 014 0 0 014 01,365,179.0021 0.00 0.00 01,365,179.0021 30 Days ~~153~~83 03 029 0 ~~153~~115 2212,~~007~~031,~~544~~820.6250 0909,199.0088 04,666,934.0014 0.00 2217,~~007~~607,~~544~~954.6252 60 Days 3920 21 31 0 4422 52,~~776~~737,~~747~~451.6360 ~~665~~23,~~907~~007.0858 ~~571~~93,~~331~~477.7913 0.00 72,~~013~~853,~~986~~936.5031 90 Days 06 0 06 0 012 01,017,301.0002 0.00 01,058,763.0033 0.00 02,076,064.0035 120 Days 0 0 02 0 02 0.00 0.00 0136,500.00 0.00 0136,500.00 150 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 ~~192~~109 218 338 0 ~~197~~165 2715,~~784~~786,~~292~~573.2512 ~~665~~2,~~907~~297,386.0867 ~~571~~5,~~331~~955,674.7960 0.00 2924,~~021~~039,~~531~~634.1239 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~~232057% 0.000000% 0.000000% 0.~~000000~~232057% 0.~~000000~~151572% 0.000000% 0.000000% 0.~~000000~~151572% 30 Days 21.~~441749~~375767% 0.~~000000~~049727% 0.~~000000~~480690% 0.000000% 21.~~441749~~906183% 21.~~348195~~335863% 0.~~000000~~100946% 0.~~000000~~518158% 0.000000% 21.~~348195~~954968% 60 Days 0.~~622407~~331510% 0.~~031918~~016576% 0.~~047877~~016576% 0.000000% 0.~~702202~~364661% 0.~~616376~~303932% 0.~~071052~~002554% 0.~~060961~~010379% 0.000000% 0.~~748389~~316866% 90 Days 0.~~000000~~099453% 0.000000% 0.~~000000~~099453% 0.000000% 0.~~000000~~198906% 0.~~000000~~112948% 0.000000% 0.~~000000~~117552% 0.000000% 0.~~000000~~230500% 120 Days 0.000000% 0.000000% 0.~~000000~~033151% 0.000000% 0.~~000000~~033151% 0.000000% 0.000000% 0.~~000000~~015155% 0.000000% 0.~~000000~~015155% 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 31.~~064156~~806730% 0.~~031918~~298359% 0.~~047877~~629869% 0.000000% 32.~~143951~~734958% 21.~~964572~~752744% 0.~~071052~~255073% 0.~~060961~~661244% 0.000000% 32.~~096585~~669061%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 02 0 0 02 066,853.0033 0.00 0.00 066,853.0033 30 Days 38 0 01 0 39 ~~344~~443,~~593~~166.7231 0.00 045,309.0087 0.00 ~~344~~488,~~593~~476.7218 60 Days 5 1 0 0 06 ~~1 144~~281,~~500~~156.0037 023,007.0058 0.00 0.00 ~~144~~304,~~500~~163.0095 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 413 03 01 0 417 ~~489~~724,~~093~~322.7268 089,860.0091 045,309.0087 0.00 ~~489~~859,~~093~~493.7246 0-29 Days 0.~~000000~~254130% 0.000000% 0.000000% 0.~~000000~~254130% 0.~~000000~~076230% 0.000000% 0.000000% 0.~~000000~~076230% 30 Days 01.~~374065~~016518% 0.000000% 0.~~000000~~127065% 0.000000% 01.~~374065~~143583% 0.~~386431~~505321% 0.000000% 0.~~000000~~051665% 0.000000% 0.~~386431~~556986% 60 Days 0.~~124688~~635324% 0.~~000000~~127065% 0.000000% 0.000000% 0.~~124688~~762389% 0.~~162044~~320589% 0.~~000000~~026234% 0.000000% 0.000000% 0.~~162044~~346823% 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 01.~~498753~~651842% 0.~~000000~~381194% 0.~~000000~~127065% 0.000000% 02.~~498753~~160102% 0.~~548475~~825910% 0.~~000000~~102464% 0.~~000000~~051665% 0.000000% 0.~~548475~~980039% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 08 0 0 08 01,021,865.0098 0.00 0.00 01,021,865.0098 30 Days 9756 01 013 0 9770 138,~~436~~366,~~846~~224.3205 0197,326.0078 01,634,070.0073 0.00 1310,~~436~~197,~~846~~621.3256 60 Days 2613 0 01 0 2614 32,~~565~~312,~~945~~717.5705 0.00 093,477.0013 0.00 32,~~565~~406,~~945~~194.5718 90 Days 03 0 04 0 07 0347,947.0008 0.00 0583,763.0033 0.00 0931,710.0041 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 ~~123~~72 09 018 0 ~~123~~99 1711,~~002~~026,~~791~~888.8918 01,219,192.0076 02,311,311.0019 0.00 1714,~~002~~557,~~791~~392.8913 0-29 Days 0.~~000000~~237812% 0.000000% 0.000000% 0.~~000000~~237812% 0.~~000000~~214682% 0.000000% 0.000000% 0.~~000000~~214682% 30 Days 21.~~761173~~664685% 0.~~000000~~029727% 0.~~000000~~386445% 0.000000% 2.~~761173~~080856% 21.~~694959~~757643% 0.~~000000~~041456% 0.~~000000~~343299% 0.000000% 2.~~694959~~142398% 60 Days 0.~~740108~~386445% 0.000000% 0.~~000000~~029727% 0.000000% 0.~~740108~~416171% 0.~~715203~~485874% 0.000000% 0.~~000000~~019638% 0.000000% 0.~~715203~~505513% 90 Days 0.~~000000~~089180% 0.000000% 0.~~000000~~118906% 0.000000% 0.~~000000~~208086% 0.~~000000~~073100% 0.000000% 0.~~000000~~122642% 0.000000% 0.~~000000~~195741% 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 32.~~501281~~140309% 0.~~000000~~267539% 0.~~000000~~535077% 0.000000% 32.~~501281~~942925% 32.~~410162~~316617% 0.~~000000~~256138% 0.~~000000~~485579% 0.000000% 3.~~410162~~058333% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 04 0 0 04 0276,459.0090 0.00 0.00 0276,459.0090 30 Days 388 01 08 0 3817 4847,~~589,632~~485.5079 099,873.0010 0854,003.0083 0.00 41,~~589~~801,~~632~~362.5072 60 Days 6 1 10 0 80 ~~397~~1 45,~~554~~877.1964 ~~53,907~~0.0800 ~~127,711~~0.4900 0.00 ~~579~~45,~~172~~877.7664 90 Days 01 0 01 0 02 053,056.0024 0.00 0124,000.00 0.00 0177,056.0024 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 4410 15 19 0 4624 4946,~~987,186~~419.6967 53376,~~907~~333.0800 ~~127~~978,~~711~~003.4983 0.00 52,~~168~~300,~~805~~756.2650 0-29 Days 0.~~000000~~290909% 0.000000% 0.000000% 0.~~000000~~290909% 0.~~000000~~145623% 0.000000% 0.000000% 0.~~000000~~145623% 30 Days 20.~~679831~~581818% 0.~~000000~~072727% 0.~~000000~~581818% 0.000000% 21.~~679831~~236364% 20.~~347669~~446407% 0.~~000000~~052607% 0.~~000000~~449840% 0.000000% 20.~~347669~~948855% 60 Days 0.~~423131~~072727% 0.~~070522~~000000% 0.~~070522~~000000% 0.000000% 0.~~564175~~072727% 0.~~203355~~024166% 0.~~027574~~000000% 0.~~065326~~000000% 0.000000% 0.~~296256~~024166% 90 Days 0.~~000000~~072727% 0.000000% 0.~~000000~~072727% 0.000000% 0.~~000000~~145455% 0.~~000000~~027947% 0.000000% 0.~~000000~~065316% 0.000000% 0.~~000000~~093263% 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 30.~~102962~~727273% 0.~~070522~~363636% 0.~~070522~~654545% 0.000000% 31.~~244006~~745455% 20.~~551024~~498520% 0.~~027574~~198231% 0.~~065326~~515157% 0.000000% 21.~~643925~~211907% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 1511 01 07 0 1519 32,~~636~~374,~~472~~944.0835 0612,000.00 02,133,549.0071 0.00 35,~~636~~120,~~472~~494.0806 60 Days 6 1 20 0 90 1 97,~~668,747~~700.8754 ~~612,000~~0.00 ~~443,620~~0.3000 0.00 297,~~724,368~~700.1754 90 Days 02 0 01 0 03 0616,297.0070 0.00 0351,000.00 0.00 0967,297.0070 120 Days 0 0 02 0 02 0.00 0.00 0136,500.00 0.00 0136,500.00 150 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 2114 1 210 0 2425 53,~~305~~088,~~219~~942.9559 612,000.00 ~~443~~2,~~620~~621,049.3071 0.00 6,~~360~~321,~~840~~992.2530 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.~~814259~~169625% 0.~~000000~~197239% 01.~~000000~~380671% 0.000000% 23.~~814259~~747535% 21.~~362139~~614065% 0.~~000000~~415929% 01.~~000000~~450008% 0.000000% 23.~~362139~~480001% 60 Days 10.~~125704~~197239% 0.~~187617~~000000% 0.~~375235~~000000% 0.000000% 10.~~688555~~197239% 10.~~083967~~066399% 0.~~397536~~000000% 0.~~288162~~000000% 0.000000% 10.~~769665~~066399% 90 Days 0.~~000000~~394477% 0.000000% 0.~~000000~~197239% 0.000000% 0.~~000000~~591716% 0.~~000000~~418850% 0.000000% 0.~~000000~~238547% 0.000000% 0.~~000000~~657397% 120 Days 0.000000% 0.000000% 0.~~000000~~394477% 0.000000% 0.~~000000~~394477% 0.000000% 0.000000% 0.~~000000~~092768% 0.000000% 0.~~000000~~092768% 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 32.~~939962~~761341% 0.~~187617~~197239% 01.~~375235~~972387% 0.000000% 4.~~502814~~930966% 32.~~446105~~099314% 0.~~397536~~415929% 01.~~288162~~781323% 0.000000% 4.~~131803~~296566%

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.~~086920~~068383% Weighted Average Net Coupon 7.~~276127~~256529% Weighted Average Pass-Through Rate 7.~~269628~~250029% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 6,~~299~~111 Number Of Loans Paid In Full 3378 Ending Scheduled Collateral Loan Count 6,~~266~~033 Beginning Scheduled Collateral Balance ~~942~~914,~~479~~067,~~245~~289.0055 Ending Scheduled Collateral Balance ~~936~~900,~~573~~021,~~886~~119.5892 Ending Actual Collateral Balance at 2830-~~Feb~~Apr-2003 ~~937~~900,~~210~~677,~~920~~490.7116 Monthly P &I Constant 76,~~080~~747,~~205~~937.2352 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~936~~900,~~573~~021,~~886~~119.5892 Scheduled Principal ~~728~~602,~~743~~066.6597 Unscheduled Principal 513,~~176~~444,~~614~~102.2566

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 8.~~086920~~068383% Weighted Average Net Rate 7.~~276127~~256529% Weighted Average Pass Through Rate 7.~~269628~~250029% Weighted Average Maturity 1 Record Date 0204/2830/2003 Principal and Interest Constant 76,~~080~~747,~~205~~937.2352 Beginning Loan Count 6,~~299~~111 Loans Paid in Full 3378 Ending Loan Count 6,~~266~~033 Beginning Scheduled Balance ~~942~~914,~~479~~067,~~245~~289.0055 Ending Scheduled Balance ~~936~~900,~~573~~021,~~886~~119.5892 Ending Actual Balance at 2830-~~Feb~~Apr-2003 ~~937~~900,~~210~~677,~~920~~490.7116 Scheduled Principal ~~728~~602,~~743~~066.6597 Unscheduled Principal 513,~~176~~444,~~614~~102.2566 Scheduled Interest 6,~~351~~145,~~461~~870.5855 Servicing Fee ~~392~~380,~~699~~861.6335 Master Servicing Fee 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee ~~249~~242,~~200~~497.7741 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 5,~~709~~522,~~561~~511.1879 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Special Servicing Fee 0.00 Prepayment Penalties 0.00

Miscellaneous Reporting Monthly Excess Cashflow 2,~~809~~491,~~315~~234.6487 Overcollateralization Amount 7,069,245.00 Overcollateralization Deficiency 0.00 Aggregate Overcollateralization Release 0.00 Targeted Overcollateralization Amount 7,069,245.00

Group Level Collateral Statement Group 1 2 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.~~809708~~810477 8.~~344692~~327175 7.~~840474~~829322 Weighted Average Net Rate 7.~~309708~~310477 7.~~844692~~827175 7.~~340474~~329322 Weighted Average Maturity ~~346~~344 ~~346~~344 ~~326~~324 Beginning Loan Count ~~805~~795 3,~~536~~411 1,~~423~~389 Loans Paid In Full 38 2347 514 Ending Loan Count ~~802~~787 3,~~513~~364 1,~~418~~375 Beginning Scheduled Balance 8988,~~982~~474,~~459~~503.6528 ~~501~~483,~~526~~499,~~512~~562.2015 ~~196~~192,~~222~~047,~~018~~460.7353 Ending scheduled Balance 8987,~~095~~620,~~429~~648.6871 ~~498~~475,~~296~~682,~~986~~745.9770 ~~195~~189,~~336~~684,~~647~~109.8050 Record Date 0204/2830/2003 0204/2830/2003 0204/2830/2003 Principal And Interest Constant ~~679~~654,~~866~~946.2543 3,~~820~~635,~~638~~298.1727 1,~~468~~399,~~955~~224.0689 Scheduled Principal 9479,~~252~~089.3272 ~~333~~280,~~068~~143.1369 ~~186~~146,~~893~~223.7379 Unscheduled Principal ~~792~~774,~~777~~764.6585 27,~~896~~536,~~457~~672.1076 ~~698~~2,~~477~~217,127.2024 Scheduled Interest ~~585~~575,~~613~~856.9371 3,~~487~~355,~~570~~154.0458 1,~~282~~253,~~061~~001.3310 Servicing Fees 3736,~~492~~864.6938 ~~208~~201,~~969~~458.3515 8180,~~759~~019.1575 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 1110,~~173~~762.5101 ~~180~~175,~~983~~741.3846 31,~~770~~169.9362 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 ~~536~~528,~~947~~230.7332 32,~~097~~977,~~617~~954.3197 1,~~168~~141,~~531~~811.2573 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 7.~~160699~~164509 7.~~411654~~391001 7.~~146178~~134559

Group Level Collateral Statement Group 4 Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~725189~~692518 8.~~086920~~068383 Weighted Average Net Rate 7.~~225189~~192518 7.~~276127~~256529 Weighted Average Maturity ~~326~~324 1 Beginning Loan Count ~~535~~516 6,~~299~~111 Loans Paid In Full 29 3378 Ending Loan Count ~~533~~507 6,~~266~~033 Beginning Scheduled Balance ~~154~~150,~~748~~045,~~253~~763.9059 ~~942~~914,~~479~~067,~~244~~289.4855 Ending scheduled Balance ~~153~~147,~~844~~033,~~822~~616.1301 ~~936~~900,~~573~~021,~~886~~119.5892 Record Date 0204/2830/2003 0204/2830/2003 Principal And Interest Constant 1,~~110~~058,~~745~~467.7593 76,~~080~~747,~~205~~937.2352 Scheduled Principal ~~114~~96,~~529~~609.4777 ~~728~~602,~~743~~066.6597 Unscheduled Principal ~~788~~2,~~902~~915,537.3081 513,~~176~~444,~~614~~102.2566 Scheduled Interest ~~996~~961,~~216~~858.2816 6,~~351~~145,~~461~~870.5855 Servicing Fees 6462,~~478~~519.4407 ~~392~~380,~~699~~861.6335 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 2524,~~272~~824.9532 ~~249~~242,~~200~~497.7741 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest ~~906~~874,~~464~~514.8977 5,~~709~~522,~~561~~511.1879 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 76.~~029210~~993985 7.~~269628~~250029

Filing Compare · STRUCTURED ASSET INVESTMENT LOAN TRUST 2003-BC1