8-K 1 etr01001.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 E TRADE BANK ARM TRUST Mortgage Pass-Through Certificates, Series 2001-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56240-06 90-0042439 Pooling and Servicing Agreement) (Commission 80-0052851 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A., 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On May 27, 2003 a distribution was made to holders of E TRADE BANK ARM TRUST, Mortgage Pass-Through Certificates, Series 2001-1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-1 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. E TRADE BANK ARM TRUST Mortgage Pass-Through Certificates, Series 2001-1 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 2001-1 Trust, relating to the May 27, 2003 distribution.

E*Trade ARM Trust Mortgage Pass-Through Certificates Record Date: 24/2830/03 Distribution Date: 35/2527/03 ETR Series: 2001-1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 26924UAA9 SEN 7.~~03004~~03853% ~~132~~100,~~567~~707,~~557~~408.2933 ~~768~~580,~~088~~451.5784 1615,~~642~~893,~~136~~739.6465 A-2 26924UAB7 SEN 56.~~75861~~01551% 1413,~~939~~741,~~880~~117.0250 7067,~~905~~688.6288 ~~319~~1,~~336~~790,404.5004 R-1 26924UAF8 RES 7.~~08793~~08459% 0.00 0.00 0.00 R-2 26924UAH4 RES 7.~~08793~~08459% 0.00 0.00 0.00 R-3 26924UAM3 RES 7.~~08793~~08459% 0.00 0.00 0.00 A-3 26924UAG6 MEZ 6.~~96943~~98572% 87,~~836~~835,~~988~~270.9593 5044,~~759~~821.5272 ~~498~~566,~~206~~363.7372 B-1 26924UAC5 SUB 6.~~96943~~98572% 4,~~713~~178,~~031~~785.8350 2723,~~071~~904.5878 ~~265~~302,~~708~~058.6280 B-2 26924UAD3 SUB 6.~~96943~~98572% 2,~~945~~611,~~683~~775.6631 1614,~~919~~940.9667 ~~166~~188,~~070~~789.0823 B-3 26924UAE1 SUB 6.~~96943~~98572% 2,~~651~~350,~~053~~542.2778 1513,~~227~~446.6130 ~~149~~169,~~459~~906.5733 B-4 26924UAJ0 SUB 6.~~96943~~98572% 1,~~767~~567,~~410~~065.2018 108,~~151~~964.9841 99113,~~642~~273.0554 B-5 26924UAK7 SUB 6.~~96943~~98572% ~~589~~522,~~136~~355.7306 32,~~383~~988.9914 3337,~~214~~757.0285 B-6 26924UAL5 SUB 6.~~96943~~98572% ~~589~~521,~~199~~312.1492 32,~~384~~982.3517 3337,~~217~~682.5352 Totals ~~169~~134,~~599~~035,~~941~~633.0951 ~~965~~760,~~893~~188.1891 1819,~~206~~099,~~991~~975.7468

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~115~~84,~~925~~813,~~420~~668.6568 1716,~~410~~474,~~225~~191.2149 0.00 A-2 0.00 1411,~~620~~950,~~543~~713.5246 ~~390~~1,~~242~~858,092.1292 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 A-3 0.00 87,~~338~~268,~~782~~907.2221 ~~548~~611,~~966~~185.2544 0.00 B-1 0.00 43,~~447~~876,~~323~~726.2070 ~~292~~325,~~780~~963.2058 0.00 B-2 0.00 2,~~779~~422,~~613~~986.5808 ~~182~~203,~~990~~729.0490 0.00 B-3 0.00 2,~~501~~180,~~593~~636.7045 ~~164~~183,~~687~~352.1863 0.00 B-4 0.00 1,~~667~~453,~~768~~791.1565 ~~109~~122,~~794~~237.0395 0.00 B-5 0.00 ~~555~~484,~~922~~597.7222 3640,~~598~~745.0199 0.00 B-6 0.00 ~~555~~483,~~981~~630.6140 3640,~~601~~664.8869 01,097.0048 Totals 0.00 ~~151~~114,~~392~~935,~~949~~657.3585 19,~~172~~860,~~884~~164.9259 01,097.0048 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-1 875,128,250.00 ~~132~~100,~~567~~707,~~557~~408.2933 ~~123~~96,~~924~~736.1657 1615,~~518~~797,~~212~~003.4808 0.00 0.00 A-2 39,045,700.00 1413,~~939~~741,~~880~~117.0250 1514,~~750~~608.8931 ~~303~~1,~~585~~775,795.6173 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 R-3 50.00 0.00 0.00 0.00 0.00 0.00 A-3 14,246,900.00 87,~~836~~835,~~988~~270.9593 87,~~311~~567.1580 ~~489~~558,~~895~~795.5892 0.00 0.00 B-1 7,598,300.00 4,~~713~~178,~~031~~785.8350 4,~~432~~036.5913 ~~261~~298,~~276~~022.0466 0.00 0.00 B-2 4,749,000.00 2,~~945~~611,~~683~~775.6631 2,~~770~~522.4062 ~~163~~186,~~299~~266.6761 0.00 0.00 B-3 4,274,000.00 2,~~651~~350,~~053~~542.2778 2,~~493~~270.3130 ~~146~~167,~~966~~636.2703 0.00 0.00 B-4 2,849,400.00 1,~~767~~567,~~410~~065.2018 1,~~662~~513.2457 97111,~~979~~759.8097 0.00 0.00 B-5 949,800.00 ~~589~~522,~~136~~355.7306 ~~554~~504.0852 3237,~~659~~253.9332 0.00 0.00 B-6 949,900.71 ~~589~~521,~~199~~312.1492 ~~554~~503.1452 3237,~~663~~179.3900 0.00 0.00 Totals 949,791,400.71 ~~169~~134,~~599~~035,~~941~~633.0951 ~~160~~130,~~452~~263.9634 18,~~046~~969,~~538~~712.7732 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 1615,~~642~~893,~~136~~739.6465 ~~115~~84,~~925~~813,~~420~~668.6568 0.~~13246678~~09691570 1615,~~642~~893,~~136~~739.6465 A-2 ~~319~~1,~~336~~790,404.5004 1411,~~620~~950,~~543~~713.5246 0.~~37444696~~30606990 ~~319~~1,~~336~~790,404.5004 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 A-3 ~~498~~566,~~206~~363.7372 87,~~338~~268,~~782~~907.2221 0.~~58530503~~51020974 ~~498~~566,~~206~~363.7372 B-1 ~~265~~302,~~708~~058.6280 43,~~447~~876,~~323~~726.2070 0.~~58530503~~51020974 ~~265~~302,~~708~~058.6280 B-2 ~~166~~188,~~070~~789.0823 2,~~779~~422,~~613~~986.5808 0.~~58530503~~51020975 ~~166~~188,~~070~~789.0823 B-3 ~~149~~169,~~459~~906.5733 2,~~501~~180,~~593~~636.7045 0.~~58530503~~51020974 ~~149~~169,~~459~~906.5733 B-4 99113,~~642~~273.0554 1,~~667~~453,~~768~~791.1565 0.~~58530503~~51020975 99113,~~642~~273.0554 B-5 3337,~~214~~757.0285 ~~555~~484,~~922~~597.7222 0.~~58530503~~51020975 3337,~~214~~757.0285 B-6 3337,~~217~~682.5352 ~~555~~483,~~981~~630.6140 0.~~58530497~~50913784 3337,~~217~~682.5352 Totals 1819,~~206~~099,~~991~~975.7468 ~~151~~114,~~392~~935,~~949~~657.3585 0.~~15939600~~12101147 1819,~~206~~099,~~991~~975.7468

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 875,128,250.00 ~~151~~115.~~48357660~~07731390 0.~~14160686~~11053988 18.~~87519056~~05107203 0.00000000 A-2 39,045,700.00 ~~382~~351.~~62548808~~92396346 0.~~40339628~~37413364 745.~~77513555~~47993070 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000 A-3 14,246,900.00 ~~620~~549.~~27451235~~96321516 0.~~58336550~~53118924 3439.~~38611768~~22228134 0.00000000 B-1 7,598,300.00 ~~620~~549.~~27451272~~96321546 0.~~58336602~~53118856 3439.~~38611795~~22228130 0.00000000 B-2 4,749,000.00 ~~620~~549.~~27451253~~96321541 0.~~58336492~~53118972 3439.~~38611708~~22228048 0.00000000 B-3 4,274,000.00 ~~620~~549.~~27451334~~96321479 0.~~58336687~~53118858 3439.~~38611839~~22228124 0.00000000 B-4 2,849,400.00 ~~620~~549.~~27451393~~96321331 0.~~58336492~~53118902 3439.~~38611638~~22228188 0.00000000 B-5 949,800.00 ~~620~~549.~~27451042~~96321331 0.~~58336492~~53118551 3439.~~38611287~~22227837 0.00000000 B-6 949,900.71 ~~620~~548.~~27444953~~80780119 0.~~58336623~~53007645 3439.~~38610968~~13988021 0.00000000 2) All Senior Classes and Mezzanine Classes are per $1,000 denomination, all Offered Subordinate ~~Classes~~classes are $25,000 ~~Denomination~~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 1918.~~01679741~~16161191 ~~132~~96.~~46677918~~91570199 0.~~13246678~~09691570 1918.~~01679741~~16161191 A-2 0.00000000 845.~~17853182~~85406434 ~~374~~306.~~44695626~~06989912 0.~~37444696~~30606990 845.~~17853182~~85406434 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-3 0.00000000 3439.~~96948319~~75347058 ~~585~~510.~~30502916~~20974458 0.~~58530503~~51020974 3439.~~96948319~~75347058 B-1 0.00000000 3439.~~96948265~~75347117 ~~585~~510.~~30502876~~20974428 0.~~58530503~~51020974 3439.~~96948265~~75347117 B-2 0.00000000 3439.~~96948410~~75347020 ~~585~~510.~~30502843~~20974521 0.~~58530503~~51020975 3439.~~96948410~~75347020 B-3 0.00000000 3439.~~96948292~~75346982 ~~585~~510.~~30503042~~20974497 0.~~58530503~~51020974 3439.~~96948292~~75346982 B-4 0.00000000 3439.~~96948480~~75347091 ~~585~~510.~~30502913~~20974591 0.~~58530503~~51020975 3439.~~96948480~~75347091 B-5 0.00000000 3439.~~96948831~~75347442 ~~585~~510.~~30503264~~20974942 0.~~58530503~~51020975 3439.~~96948831~~75347442 B-6 0.00000000 3439.~~96947592~~66995666 ~~585~~509.~~30497361~~13784452 0.~~58530497~~50913784 3439.~~96947592~~66995666 (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-1 875,128,250.00 7.~~03004~~03853% ~~132~~100,~~567~~707,~~557~~408.2933 ~~776~~590,~~629~~693.7802 0.00 0.00 A-2 39,045,700.00 56.~~75861~~01551% 1413,~~939~~741,~~880~~117.0250 7168,~~694~~883.1015 0.00 0.00 R-1 50.00 7.~~08793~~08459% 0.00 0.00 0.00 0.00 R-2 50.00 7.~~08793~~08459% 0.00 0.00 0.00 0.00 R-3 50.00 7.~~08793~~08459% 0.00 0.00 0.00 0.00 A-3 14,246,900.00 6.~~96943~~98572% 87,~~836~~835,~~988~~270.9593 5145,~~323~~612.9753 0.00 0.00 B-1 7,598,300.00 6.~~96943~~98572% 4,~~713~~178,~~031~~785.8350 2724,~~372~~326.6254 0.00 0.00 B-2 4,749,000.00 6.~~96943~~98572% 2,~~945~~611,~~683~~775.6631 1715,~~108~~204.1128 0.00 0.00 B-3 4,274,000.00 6.~~96943~~98572% 2,~~651~~350,~~053~~542.2778 1513,~~396~~683.9454 0.00 0.00 B-4 2,849,400.00 6.~~96943~~98572% 1,~~767~~567,~~410~~065.2018 109,~~264~~122.8757 0.00 0.00 B-5 949,800.00 6.~~96943~~98572% ~~589~~522,~~136~~355.7306 3,~~421~~040.6286 0.00 0.00 B-6 949,900.71 6.~~96943~~98572% ~~589~~521,~~199~~312.1492 3,~~421~~034.9879 0.00 0.00 Totals 949,791,400.71 ~~976~~773,~~633~~601.9928 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-1 810,~~541~~241.2118 0.00 ~~768~~580,~~088~~451.5784 0.00 ~~115~~84,~~925~~813,~~420~~668.6568 A-2 ~~788~~1,194.4827 0.00 7067,~~905~~688.6288 0.00 1411,~~620~~950,~~543~~713.5246 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 A-3 ~~564~~790.4581 0.00 5044,~~759~~821.5272 0.00 87,~~338~~268,~~782~~907.2221 B-1 ~~301~~421.0476 0.00 2723,~~071~~904.5878 0.00 43,~~447~~876,~~323~~726.2070 B-2 ~~188~~263.1561 0.00 1614,~~919~~940.9667 0.00 2,~~779~~422,~~613~~986.5808 B-3 ~~169~~237.3324 0.00 1513,~~227~~446.6130 0.00 2,~~501~~180,~~593~~636.7045 B-4 ~~112~~158.8916 0.00 108,~~151~~964.9841 0.00 1,~~667~~453,~~768~~791.1565 B-5 3752.6372 0.00 32,~~383~~988.9914 0.00 ~~555~~484,~~922~~597.7222 B-6 3752.6362 0.00 32,~~384~~982.3517 0.00 ~~555~~483,~~981~~630.6140 Totals 1013,~~740~~412.8137 0.00 ~~965~~760,~~893~~188.1891 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-1 875,128,250.00 7.~~03004~~03853% ~~151~~115.~~48357660~~07731390 0.~~88744682~~67497880 0.00000000 0.00000000 A-2 39,045,700.00 56.~~75861~~01551% ~~382~~351.~~62548808~~92396346 1.~~83615866~~76416737 0.00000000 0.00000000 R-1 50.00 7.~~08793~~08459% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 7.~~08793~~08459% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 7.~~08793~~08459% 0.00000000 0.00000000 0.00000000 0.00000000 A-3 14,246,900.00 6.~~96943~~98572% ~~620~~549.~~27451235~~96321516 3.~~60246580~~20157578 0.00000000 0.00000000 B-1 7,598,300.00 6.~~96943~~98572% ~~620~~549.~~27451272~~96321546 3.~~60246634~~20157667 0.00000000 0.00000000 B-2 4,749,000.00 6.~~96943~~98572% ~~620~~549.~~27451253~~96321541 3.~~60246578~~20157507 0.00000000 0.00000000 B-3 4,274,000.00 6.~~96943~~98572% ~~620~~549.~~27451334~~96321479 3.~~60246607~~20157698 0.00000000 0.00000000 B-4 2,849,400.00 6.~~96943~~98572% ~~620~~549.~~27451393~~96321331 3.~~60246719~~20157577 0.00000000 0.00000000 B-5 949,800.00 6.~~96943~~98572% ~~620~~549.~~27451042~~96321331 3.~~60246368~~20157928 0.00000000 0.00000000 B-6 949,900.71 6.~~96943~~98572% ~~620~~548.~~27444953~~80780119 3.~~60246072~~19484970 0.00000000 0.00000000 5) All Senior Classes and Mezzanine Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 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 A-1 0.~~00975995~~01170249 0.00000000 0.~~87768686~~66327631 0.00000000 ~~132~~96.~~46677918~~91570199 A-2 0.~~02019377~~03058647 0.00000000 1.~~81596488~~73358091 0.00000000 ~~374~~306.~~44695626~~06989912 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-3 0.~~03961915~~05550751 0.00000000 3.~~56284665~~14606827 0.00000000 ~~585~~510.~~30502916~~20974458 B-1 0.~~03961939~~05550715 0.00000000 3.~~56284695~~14606952 0.00000000 ~~585~~510.~~30502876~~20974428 B-2 0.~~03961887~~05550853 0.00000000 3.~~56284692~~14606654 0.00000000 ~~585~~510.~~30502843~~20974521 B-3 0.~~03961862~~05550772 0.00000000 3.~~56284745~~14606926 0.00000000 ~~585~~510.~~30503042~~20974497 B-4 0.~~03961887~~05550642 0.00000000 3.~~56284832~~14606935 0.00000000 ~~585~~510.~~30502913~~20974591 B-5 0.~~03961887~~05550642 0.00000000 3.~~56284481~~14607286 0.00000000 ~~585~~510.~~30503264~~20974942 B-6 0.~~03961467~~05539526 0.00000000 3.~~56284606~~13945444 0.00000000 ~~585~~509.~~30497361~~13784452 (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 19,~~209~~880,~~712~~812.4241 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1822,~~101~~936.9684 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 19,~~227~~903,~~814~~749.3825 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 5443,~~929~~584.4666 Payment of Interest and Principal 19,~~172~~860,~~884~~164.9259 Total Withdrawals (Pool Distribution Amount) 19,~~227~~903,~~814~~749.3825 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 1013,~~740~~412.8137 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 1013,~~740~~412.8137

SERVICING FEES Gross Servicing Fee 3729,~~728~~958.2765 Special Servicing Fee 0.00 Supplemental PMI Insurance Fee 1713,~~201~~626.1901 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 5443,~~929~~584.4666

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 02 0 0 0 02 0812,112.0042 0.00 0.00 0.00 0812,112.0042 60 Days 12 0 10 0 2 ~~319~~808,~~000~~627.0014 0.00 ~~412,670~~0.6700 0.00 ~~731~~808,~~670~~627.6714 90 Days 0 0 1 0 1 0.00 0.00 ~~463~~412,~~585~~381.1300 0.00 ~~463~~412,~~585~~381.1300 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 01 0 01 0.00 0.00 0463,585.0013 0.00 0463,585.0013 180+ Days 0 1 20 1 42 0.00 486,879.14 ~~564,509~~0.6100 273,250.65 1760,~~324,639~~129.4079 Totals 14 1 42 1 78 ~~319~~1,~~000~~620,739.0056 486,879.14 1875,~~440,765~~966.4113 273,250.65 23,~~519~~256,~~895~~835.2048 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~692042% 0.000000% 0.000000% 0.000000% 0.~~000000~~692042% 0.~~000000~~705880% 0.000000% 0.000000% 0.000000% 0.~~000000~~705880% 60 Days 0.~~260417~~692042% 0.000000% 0.~~260417~~000000% 0.000000% 0.~~520833~~692042% 0.~~210518~~702851% 0.000000% 0.~~272335~~000000% 0.000000% 0.~~482853~~702851% 90 Days 0.000000% 0.000000% 0.~~260417~~346021% 0.000000% 0.~~260417~~346021% 0.000000% 0.000000% 0.~~305935~~358438% 0.000000% 0.~~305935~~358438% 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~~346021% 0.000000% 0.~~000000~~346021% 0.000000% 0.000000% 0.~~000000~~402944% 0.000000% 0.~~000000~~402944% 180+ Days 0.000000% 0.~~260417~~346021% 0.~~520833~~000000% 0.~~260417~~346021% 10.~~041667~~692042% 0.000000% 0.~~321307~~423191% 0.~~372538~~000000% 0.~~180327~~237507% 0.~~874172~~660698% Totals 01.~~260417~~384083% 0.~~260417~~346021% 10.~~041667~~692042% 0.~~260417~~346021% 12.~~822917~~768166% 01.~~210518~~408732% 0.~~321307~~423191% 0.~~950807~~761381% 0.~~180327~~237507% 12.~~662959~~830811%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 02 0 0 0 02 0812,112.0042 0.00 0.00 0.00 0812,112.0042 60 Days 12 0 10 0 2 ~~319~~808,~~000~~627.0014 0.00 ~~412,670~~0.6700 0.00 ~~731~~808,~~670~~627.6714 90 Days 0 0 1 0 1 0.00 0.00 ~~463~~412,~~585~~381.1300 0.00 ~~463~~412,~~585~~381.1300 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 01 0 01 0.00 0.00 0463,585.0013 0.00 0463,585.0013 180 Days 0 1 20 1 42 0.00 486,879.14 ~~564,509~~0.6100 273,250.65 1760,~~324,639~~129.4079 Totals 14 1 42 1 78 ~~319~~1,~~000~~620,739.0056 486,879.14 1875,~~440,765~~966.4113 273,250.65 23,~~519~~256,~~895~~835.2048 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~778210% 0.000000% 0.000000% 0.000000% 0.~~000000~~778210% 0.~~000000~~795089% 0.000000% 0.000000% 0.000000% 0.~~000000~~795089% 60 Days 0.~~289855~~778210% 0.000000% 0.~~289855~~000000% 0.000000% 0.~~579710~~778210% 0.~~234808~~791677% 0.000000% 0.~~303757~~000000% 0.000000% 0.~~538566~~791677% 90 Days 0.000000% 0.000000% 0.~~289855~~389105% 0.000000% 0.~~289855~~389105% 0.000000% 0.000000% 0.~~341234~~403737% 0.000000% 0.~~341234~~403737% 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~~389105% 0.000000% 0.~~000000~~389105% 0.000000% 0.000000% 0.~~000000~~453868% 0.000000% 0.~~000000~~453868% 180 Days 0.000000% 0.~~289855~~389105% 0.~~579710~~000000% 0.~~289855~~389105% 10.~~159420~~778210% 0.000000% 0.~~358380~~476673% 0.~~415522~~000000% 0.~~201133~~267523% 0.~~975036~~744196% Totals 01.~~289855~~556420% 0.~~289855~~389105% 10.~~159420~~778210% 0.~~289855~~389105% 23.~~028986~~112840% 01.~~234808~~586766% 0.~~358380~~476673% 10.~~060514~~857605% 0.~~201133~~267523% 13.~~854836~~188567% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1822,~~101~~936.9684

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 21,370,550.71 2.25002571% 1210,~~508~~902,~~202~~368.9650 89.~~26207760~~48562762% 9190.~~737922~~514372% 9392.~~151580~~213446% Class R-I 21,370,500.71 2.25002045% 1210,~~508~~902,~~202~~368.9650 89.~~26207760~~48562762% 0.000000% 0.000000% Class R-II 21,370,450.71 2.25001518% 1210,~~508~~902,~~202~~368.9650 89.~~26207760~~48562762% 0.000000% 0.000000% Class R-III 21,370,400.71 2.25000992% 1210,~~508~~902,~~202~~368.9650 89.~~26207760~~48562762% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 7.~~298801~~316138% Weighted Average Net Coupon 7.~~031855~~047922% Weighted Average Pass-Through Rate 6.~~910149~~925931% Weighted Average Maturity(Stepdown Calculation ) ~~331~~329 Beginning Scheduled Collateral Loan Count ~~432~~338 Number Of Loans Paid In Full 4849 Ending Scheduled Collateral Loan Count ~~384~~289 Beginning Scheduled Collateral Balance ~~169~~134,~~599~~035,~~941~~633.0949 Ending Scheduled Collateral Balance ~~151~~114,~~392~~935,~~949~~657.3682 Ending Actual Collateral Balance at 2830-~~Feb~~Apr-2003 ~~151~~115,~~530~~049,~~787~~570.7024 Monthly P &I Constant 1948,~~195,232~~075.5113 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 01,097.0048 Class A Optimal Amount 1718,~~809~~343,~~797~~719.0186 Ending Scheduled Balance for Premium Loans ~~151~~114,~~392~~935,~~949~~657.3682 Scheduled Principal ~~160~~130,~~452~~263.9634 Unscheduled Principal 18,~~046~~969,~~538~~712.7733

Miscellaneous Reporting Senior Percentage Group I 8684.~~303160~~426891% Senior Prep. Percentage Group I 9392.~~151580~~213446% Subordinate Percentage Group I 1315.~~696840~~573109% Subordinate Prep. Percentage Group I 67.~~848420~~786554% Senior Percentage Group II 93.~~414531~~147075% Senior Prep. Percentage Group II 96.~~707265~~573538% Subordinate Percentage Group II 6.~~585469~~852925% Subordinate Prep. Percentage Group II 3.~~292735~~426462% Stop - Loss Amount 18,995,828.01 Average Loss Severity 0.00

Group Level Collateral Statement Group Group I Group II Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 7.~~415229~~425738 6.~~180556~~429922 7.~~298801~~316138 Weighted Average Net Rate 7.~~151278~~160121 56.~~884847~~140701 7.~~031855~~047922 Weighted Average Maturity ~~331~~329 ~~338~~336 ~~331~~329 Beginning Loan Count ~~392~~301 4037 ~~432~~338 Loans Paid In Full 4744 15 4849 Ending Loan Count ~~345~~257 3932 ~~384~~289 Beginning Scheduled Balance ~~153~~119,~~606~~283,~~840~~568.3607 1514,~~993~~752,~~100~~065.7342 ~~169~~134,~~599~~035,~~941~~633.0949 Ending scheduled Balance ~~135~~102,~~730~~038,~~632~~077.1503 1512,~~662~~897,~~317~~580.2179 ~~151~~114,~~392~~935,~~949~~657.3682 Record Date 0204/2830/2003 0204/2830/2003 0204/2830/2003 Principal And Interest Constant 1853,~~092,783~~346.2755 ~~102~~94,~~449~~728.2458 1948,~~195,232~~075.5113 Scheduled Principal ~~143~~114,~~591~~580.6828 1615,~~861~~683.2806 ~~160~~130,~~452~~263.9634 Unscheduled Principal 17,~~732~~130,~~616~~910.5376 ~~313~~1,~~922~~838,801.2457 18,~~046~~969,~~538~~712.7733 Scheduled Interest ~~949~~738,~~191~~140.5942 8279,~~371~~045.8852 1817,~~031,563~~185.4794 Servicing Fees 3326,~~787~~403.1815 3,~~941~~555.0950 3729,~~728~~958.2765 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 1512,~~518~~086.7396 1,~~682~~539.4605 1713,~~201~~626.1901 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 ~~899~~699,~~885~~650.6831 7673,~~748~~950.3397 ~~976~~773,~~634~~601.0128 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 01,097.0048 0.00 01,097.0048 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.~~030044~~038525 56.~~758608~~015507 6.~~910149~~925931

Filing Compare · E TRADE BANK ARM TRUST MORTGAGE PASS THR CERT SER 2001-1