8-K 1 thb03001.txt JUNE 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): June 25, 2003 THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-99463-05 Pooling and Servicing Agreement) (Commission Pending (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 June 25, 2003 a distribution was made to holders of THORNBURG MORTGAGE SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2003-1 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 2003-1 Trust, relating to the June 25, 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. THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2003-1 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: 6/27/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the June 25, 2003 distribution.

Thornburg Mortgage Home Loans, Inc. Mortgage Pass-Through Certificates Record Date: 45/3031/03 Distribution Date: 56/2725/03 THB Series: 2003-1 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 885220CR2 SEN 32.~~04656~~91819% ~~182~~181,~~987~~934,~~891~~609.4042 ~~464~~442,~~568~~432.8369 12,~~053~~363,~~281~~743.9839 A-R 885220CV3 SEN 2.~~89726~~89398% 0.00 0.00 0.00 A-2 885220CS0 SEN 4.~~37076~~36527% ~~110~~105,~~961~~854,~~556~~250.5444 ~~404~~385,~~154~~068.8822 54,~~107~~834,~~306~~006.1076 A-3 885220CT8 SEN 4.~~83269~~82748% ~~381~~368,~~840~~923,~~401~~025.7748 1,~~537~~484,~~764~~139.6065 1216,~~917~~534,~~376~~130.2921 A-4 885220CU5 SEN 5.~~40014~~39826% 5453,~~456~~434,~~270~~663.8406 ~~245~~240,~~059~~378.4461 1,~~021~~156,~~607~~742.7844 B-1 885220CW1 SUB 4.~~35823~~32251% 7,~~739~~738,~~302~~042.06 2827,~~108~~873.0611 1,~~260~~268.0140 B-2 885220CX9 SUB 4.~~35823~~32251% 5,~~803~~802,~~227~~282.1534 2120,~~076~~900.5133 ~~944~~951.8009 B-3 885220CY7 SUB 4.~~35823~~32251% 4,642,~~781~~025.6275 16,~~861~~720.9399 ~~755~~760.8791 B-4 885220CZ4 SUB 4.~~35823~~32251% 1,159,~~446~~257.0024 4,~~210~~175.9575 ~~188~~190.7602 B-5 885220DA8 SUB 4.~~35823~~32251% 771,~~631~~505.3068 2,~~802~~779.4603 ~~125~~126.6346 B-6 885220DB6 SUB 4.~~35823~~32251% 1,947,~~832~~515.3018 7,~~074~~015.2612 ~~317~~319.1223 Totals ~~752~~732,~~310~~207,~~340~~176.9865 2,~~731~~631,~~681~~483.9250 2024,~~103~~892,~~164~~238.3491

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~181~~179,~~934~~570,~~609~~866.4203 12,~~517~~806,~~850~~176.8108 0.00 A-R 0.00 0.00 0.00 0.00 A-2 0.00 ~~105~~101,~~854~~020,~~250~~243.4468 5,~~511~~219,~~460~~074.98 0.00 A-3 0.00 ~~368~~352,~~923~~388,~~025~~895.4827 1418,~~455~~018,~~140~~269.8986 0.00 A-4 0.00 5352,~~434~~277,~~663~~920.0661 1,~~266~~397,~~667~~121.2205 0.00 B-1 0.00 7,~~738~~736,~~042~~773.0666 29,~~368~~141.0751 0.00 B-2 0.00 5,~~802~~801,~~282~~331.3425 2221,~~021~~851.3142 0.00 B-3 0.00 4,~~642~~641,~~025~~264.7584 17,~~617~~481.8090 0.00 B-4 0.00 1,159,~~257~~067.2422 4,~~399~~365.7177 0.00 B-5 0.00 771,~~505~~379.6822 2,~~928~~905.0949 0.00 B-6 0.00 1,947,~~515~~195.1895 7,~~391~~334.3835 0.00 Totals 0.00 ~~732~~707,~~207~~314,~~176~~937.6573 2227,~~834~~523,~~846~~722.2641 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) A-1 187,279,000.00 ~~182~~181,~~987~~934,~~891~~609.4042 7,~~747~~562.8211 12,~~045~~356,~~534~~181.1628 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 A-2 115,997,000.00 ~~110~~105,~~961~~854,~~556~~250.5444 2322,~~784~~764.5683 54,~~083~~811,~~521~~241.5493 0.00 0.00 A-3 394,210,000.00 ~~381~~368,~~840~~923,~~401~~025.7748 8078,~~614~~585.9382 1216,~~836~~455,~~761~~544.3639 0.00 0.00 A-4 54,914,000.00 5453,~~456~~434,~~270~~663.8406 6,~~431~~464.9637 1,~~015~~150,~~175~~278.8207 0.00 0.00 B-1 7,743,000.00 7,~~739~~738,~~302~~042.06 1,~~260~~268.0140 0.00 0.00 0.00 B-2 5,806,000.00 5,~~803~~802,~~227~~282.1534 ~~944~~951.8009 0.00 0.00 0.00 B-3 4,645,000.00 4,642,~~781~~025.6275 ~~755~~760.8791 0.00 0.00 0.00 B-4 1,160,000.00 1,159,~~446~~257.0024 ~~188~~190.7602 0.00 0.00 0.00 B-5 772,000.00 771,~~631~~505.3068 ~~125~~126.6346 0.00 0.00 0.00 B-6 1,948,763.00 1,947,~~832~~515.3018 ~~317~~319.1223 0.00 0.00 0.00 Totals 774,474,863.00 ~~752~~732,~~310~~207,~~340~~176.9865 ~~122~~118,~~171~~993.4624 1924,~~980~~773,~~992~~245.8867 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 12,~~053~~363,~~281~~743.9839 ~~181~~179,~~934~~570,~~609~~866.4203 0.~~97146295~~95884144 12,~~053~~363,~~281~~743.9839 A-R 0.00 0.00 0.00000000 0.00 A-2 54,~~107~~834,~~306~~006.1076 ~~105~~101,~~854~~020,~~250~~243.4468 0.~~91256024~~87088669 54,~~107~~834,~~306~~006.1076 A-3 1216,~~917~~534,~~376~~130.2921 ~~368~~352,~~923~~388,~~025~~895.4827 0.~~93585405~~89391161 1216,~~917~~534,~~376~~130.2921 A-4 1,~~021~~156,~~607~~742.7844 5352,~~434~~277,~~663~~920.0661 0.~~97306084~~95199622 1,~~021~~156,~~607~~742.7844 B-1 1,~~260~~268.0140 7,~~738~~736,~~042~~773.0666 0.~~99935969~~99919587 1,~~260~~268.0140 B-2 ~~944~~951.8009 5,~~802~~801,~~282~~331.3425 0.~~99935969~~99919587 ~~944~~951.8009 B-3 ~~755~~760.8791 4,~~642~~641,~~025~~264.7584 0.~~99935969~~99919588 ~~755~~760.8791 B-4 ~~188~~190.7602 1,159,~~257~~067.2422 0.~~99935969~~99919588 ~~188~~190.7602 B-5 ~~125~~126.6346 771,~~505~~379.6822 0.~~99935969~~99919588 ~~125~~126.6346 B-6 ~~317~~319.1223 1,947,~~515~~195.1895 0.~~99935969~~99919587 ~~317~~319.1223 Totals 2024,~~103~~892,~~164~~238.3491 ~~732~~707,~~207~~314,~~176~~937.6573 0.~~94542407~~91328327 2024,~~103~~892,~~164~~238.3491

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 187,279,000.00 ~~977~~971.~~08708077~~46294790 0.~~04137047~~04037885 512.~~58276240~~58112912 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A-2 115,997,000.00 ~~956~~912.~~58988198~~56024242 0.~~20504461~~19625361 4341.~~82459495~~47729622 0.00000000 A-3 394,210,000.00 ~~968~~935.~~62180505~~85405109 0.~~20449743~~19935014 3241.~~56325654~~74309224 0.00000000 A-4 54,914,000.00 ~~991~~973.~~66461813~~06084168 0.~~11712787~~11771807 1820.~~48664858~~94690006 0.00000000 B-1 7,743,000.00 999.~~52241508~~35968746 0.~~16272892~~16381248 0.00000000 0.00000000 B-2 5,806,000.00 999.~~52241647~~35968653 0.~~16272821~~16381157 0.00000000 0.00000000 B-3 4,645,000.00 999.~~52241550~~35968784 0.~~16272766~~16381270 0.00000000 0.00000000 B-4 1,160,000.00 999.~~52241379~~35968966 0.~~16272414~~16381034 0.00000000 0.00000000 B-5 772,000.00 999.~~52240933~~35968912 0.~~16273316~~16380829 0.00000000 0.00000000 B-6 1,948,763.00 999.~~52241499~~35968612 0.~~16272887~~16381161 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 512.~~62413287~~62150796 ~~971~~958.~~46294790~~84143994 0.~~97146295~~95884144 512.~~62413287~~62150796 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 4441.~~02963956~~67354983 ~~912~~870.~~56024242~~88669259 0.~~91256024~~87088669 4441.~~02963956~~67354983 A-3 0.00000000 3241.~~76775396~~94244238 ~~935~~893.~~85405109~~91160871 0.~~93585405~~89391161 3241.~~76775396~~94244238 A-4 0.00000000 1821.~~60377645~~06461813 ~~973~~951.~~06084168~~99622337 0.~~97306084~~95199622 1821.~~60377645~~06461813 B-1 0.00000000 0.~~16272892~~16381248 999.~~35968746~~19587498 0.~~99935969~~99919587 0.~~16272892~~16381248 B-2 0.00000000 0.~~16272821~~16381157 999.~~35968653~~19587496 0.~~99935969~~99919587 0.~~16272821~~16381157 B-3 0.00000000 0.~~16272766~~16381270 999.~~35968784~~19587513 0.~~99935969~~99919588 0.~~16272766~~16381270 B-4 0.00000000 0.~~16272414~~16381034 999.~~35968966~~19587931 0.~~99935969~~99919588 0.~~16272414~~16381034 B-5 0.00000000 0.~~16273316~~16380829 999.~~35968912~~19588083 0.~~99935969~~99919588 0.~~16273316~~16380829 B-6 0.00000000 0.~~16272887~~16381161 999.~~35968612~~19587451 0.~~99935969~~99919587 0.~~16272887~~16381161 (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-1 187,279,000.00 32.~~04656~~91819% ~~182~~181,~~987~~934,~~891~~609.4042 ~~464~~442,~~568~~432.8369 0.00 0.00 A-R 100.00 2.~~89726~~89398% 0.00 0.00 0.00 0.00 A-2 115,997,000.00 4.~~37076~~36527% ~~110~~105,~~961~~854,~~556~~250.5444 ~~404~~385,~~154~~068.8822 0.00 0.00 A-3 394,210,000.00 4.~~83269~~82748% ~~381~~368,~~840~~923,~~401~~025.7748 1,~~537~~484,~~764~~139.6065 0.00 0.00 A-4 54,914,000.00 5.~~40014~~39826% 5453,~~456~~434,~~270~~663.8406 ~~245~~240,~~059~~378.4461 0.00 0.00 B-1 7,743,000.00 4.~~35823~~32251% 7,~~739~~738,~~302~~042.06 2827,~~108~~873.0611 0.00 0.00 B-2 5,806,000.00 4.~~35823~~32251% 5,~~803~~802,~~227~~282.1534 2120,~~076~~900.5133 0.00 0.00 B-3 4,645,000.00 4.~~35823~~32251% 4,642,~~781~~025.6275 16,~~861~~720.9399 0.00 0.00 B-4 1,160,000.00 4.~~35823~~32251% 1,159,~~446~~257.0024 4,~~210~~175.9575 0.00 0.00 B-5 772,000.00 4.~~35823~~32251% 771,~~631~~505.3068 2,~~802~~779.4603 0.00 0.00 B-6 1,948,763.00 4.~~35823~~32251% 1,947,~~832~~515.3018 7,~~074~~015.2612 0.00 0.00 Totals 774,474,863.00 2,~~731~~631,~~681~~483.9250 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 ~~464~~442,~~568~~432.8369 0.00 ~~181~~179,~~934~~570,~~609~~866.4203 A-R 0.00 0.00 0.00 0.00 0.00 A-2 0.00 0.00 ~~404~~385,~~154~~068.8822 0.00 ~~105~~101,~~854~~020,~~250~~243.4468 A-3 0.00 0.00 1,~~537~~484,~~764~~139.6065 0.00 ~~368~~352,~~923~~388,~~025~~895.4827 A-4 0.00 0.00 ~~245~~240,~~059~~378.4461 0.00 5352,~~434~~277,~~663~~920.0661 B-1 0.00 0.00 2827,~~108~~873.0611 0.00 7,~~738~~736,~~042~~773.0666 B-2 0.00 0.00 2120,~~076~~900.5133 0.00 5,~~802~~801,~~282~~331.3425 B-3 0.00 0.00 16,~~861~~720.9399 0.00 4,~~642~~641,~~025~~264.7584 B-4 0.00 0.00 4,~~210~~175.9575 0.00 1,159,~~257~~067.2422 B-5 0.00 0.00 2,~~802~~779.4603 0.00 771,~~505~~379.6822 B-6 0.00 0.00 7,~~074~~015.2612 0.00 1,947,~~515~~195.1895 Totals 0.00 0.00 2,~~731~~631,~~681~~483.9250 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-1 187,279,000.00 32.~~04656~~91819% ~~977~~971.~~08708077~~46294790 2.~~48062426~~36242553 0.00000000 0.00000000 A-R 100.00 2.~~89726~~89398% 0.00000000 0.00000000 0.00000000 0.00000000 A-2 115,997,000.00 4.~~37076~~36527% ~~956~~912.~~58988198~~56024242 3.~~48418390~~31963947 0.00000000 0.00000000 A-3 394,210,000.00 4.~~83269~~82748% ~~968~~935.~~62180505~~85405109 3.~~90087669~~76484526 0.00000000 0.00000000 A-4 54,914,000.00 5.~~40014~~39826% ~~991~~973.~~66461813~~06084168 4.~~46260407~~37736479 0.00000000 0.00000000 B-1 7,743,000.00 4.~~35823~~32251% 999.~~52241508~~35968746 3.~~63012527~~59978174 0.00000000 0.00000000 B-2 5,806,000.00 4.~~35823~~32251% 999.~~52241647~~35968653 3.~~63012573~~59978126 0.00000000 0.00000000 B-3 4,645,000.00 4.~~35823~~32251% 999.~~52241550~~35968784 3.~~63012487~~59978256 0.00000000 0.00000000 B-4 1,160,000.00 4.~~35823~~32251% 999.~~52241379~~35968966 3.~~63012931~~59978448 0.00000000 0.00000000 B-5 772,000.00 4.~~35823~~32251% 999.~~52240933~~35968912 3.~~63012953~~59977979 0.00000000 0.00000000 B-6 1,948,763.00 4.~~35823~~32251% 999.~~52241499~~35968612 3.~~63012845~~59978099 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.~~48062426~~36242553 0.00000000 ~~971~~958.~~46294790~~84143994 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 0.00000000 3.~~48418390~~31963947 0.00000000 ~~912~~870.~~56024242~~88669259 A-3 0.00000000 0.00000000 3.~~90087669~~76484526 0.00000000 ~~935~~893.~~85405109~~91160871 A-4 0.00000000 0.00000000 4.~~46260407~~37736479 0.00000000 ~~973~~951.~~06084168~~99622337 B-1 0.00000000 0.00000000 3.~~63012527~~59978174 0.00000000 999.~~35968746~~19587498 B-2 0.00000000 0.00000000 3.~~63012573~~59978126 0.00000000 999.~~35968653~~19587496 B-3 0.00000000 0.00000000 3.~~63012487~~59978256 0.00000000 999.~~35968784~~19587513 B-4 0.00000000 0.00000000 3.~~63012931~~59978448 0.00000000 999.~~35968966~~19587931 B-5 0.00000000 0.00000000 3.~~63012953~~59977979 0.00000000 999.~~35968912~~19588083 B-6 0.00000000 0.00000000 3.~~63012845~~59978099 0.00000000 999.~~35968612~~19587451 (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 2327,~~049~~733,~~766~~146.0148 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized ~~Losses~~Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2327,~~049~~733,~~766~~146.0148 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~214~~209,~~919~~424.7507 Payment of Interest and Principal 2227,~~834~~523,~~846~~722.2641 Total Withdrawals (Pool Distribution Amount) 2327,~~049~~733,~~766~~146.0148 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~201~~196,~~754~~610.3047 Master Servicing Fee- Wells Fargo 12,~~538~~203.5045 Trustee Fee - Deutsche Bank ~~626~~610.9515 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~214~~209,~~919~~424.7507

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 0.00 0.00 0.00 0.00 30 Days 91 0 0 0 91 41,~~106~~000,~~028~~000.7100 0.00 0.00 0.00 41,~~106~~000,~~028~~000.7100 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 91 0 0 0 91 41,~~106~~000,~~028~~000.7100 0.00 0.00 0.00 41,~~106~~000,~~028~~000.7100 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~349869~~265957% 0.000000% 0.000000% 0.000000% 20.~~349869~~265957% 20.~~190642~~540340% 0.000000% 0.000000% 0.000000% 20.~~190642~~540340% 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 20.~~349869~~265957% 0.000000% 0.000000% 0.000000% 20.~~349869~~265957% 20.~~190642~~540340% 0.000000% 0.000000% 0.000000% 20.~~190642~~540340% 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 02 0 0 0 02 01,161,900.00 0.00 0.00 0.00 01,161,900.00 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 02 0 0 0 02 01,161,900.00 0.00 0.00 0.00 01,161,900.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~772201% 0.000000% 0.000000% 0.000000% 0.~~000000~~772201% 01.~~000000~~112561% 0.000000% 0.000000% 0.000000% 01.~~000000~~112561% 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~~772201% 0.000000% 0.000000% 0.000000% 0.~~000000~~772201% 01.~~000000~~112561% 0.000000% 0.000000% 0.000000% 01.~~000000~~112561% 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 43 0 0 0 43 12,~~783~~636,~~799~~000.9900 0.00 0.00 0.00 12,~~783~~636,~~799~~000.9900 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 43 0 0 0 43 12,~~783~~636,~~799~~000.9900 0.00 0.00 0.00 12,~~783~~636,~~799~~000.9900 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~421053~~324324% 0.000000% 0.000000% 0.000000% 0.~~421053~~324324% 0.~~468755~~724167% 0.000000% 0.000000% 0.000000% 0.~~468755~~724167% 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.~~421053~~324324% 0.000000% 0.000000% 0.000000% 0.~~421053~~324324% 0.~~468755~~724167% 0.000000% 0.000000% 0.000000% 0.~~468755~~724167% 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%

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~700084~~655908% Weighted Average Net Coupon 4.~~378269~~333687% Weighted Average Pass-Through Rate 4.~~357269~~312687% Weighted Average Maturity(Stepdown Calculation ) ~~356~~355 Beginning Scheduled Collateral Loan Count 1,~~723~~682 Number Of Loans Paid In Full 4143 Ending Scheduled Collateral Loan Count 1,~~682~~639 Beginning Scheduled Collateral Balance ~~752~~732,~~310~~207,~~341~~177.4611 Ending Scheduled Collateral Balance ~~732~~707,~~207~~314,~~177~~938.1119 Ending Actual Collateral Balance at 3031-~~Apr~~May-2003 ~~732~~707,~~304~~409,~~158~~775.5256 Monthly P &I Constant 32,~~068~~959,~~773~~900.1584 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 2227,~~751~~440,~~119~~641.9297 Ending Scheduled Balance for Premium Loans ~~732~~707,~~207~~314,~~177~~938.1119 Scheduled Principal ~~122~~118,~~171~~993.4725 Unscheduled Principal 1924,~~980~~773,~~992~~245.8867

Miscellaneous Reporting Senior Percentage Group 1 97.~~085500~~069242% Senior PrePayment Percentage Grp 1 100.000000% Subordinate Percentage Group 1 2.~~914500~~930758% Subordinate PrePayment Percentage Grp 1 0.000000% Senior Percentage Group 2 9796.~~025910~~887529% Senior PrePayment Percentage Grp 2 100.000000% Subordinate Percentage Group 2 23.~~974090~~112471% Subordinate PrePayment Percentage Grp 2 0.000000% Senior Percentage Group 3 9796.~~061918~~962791% Senior PrePayment Percentage Grp 3 100.000000% Subordinate Percentage Group 3 23.~~938082~~037209% Subordinate PrePayment Percentage Grp 3 0.000000% Senior Percentage Group 4 97.~~126137~~073136% Senior PrePayment Percentage Grp 4 100.000000% Subordinate Percentage Group 4 2.~~873863~~926864% Subordinate PrePayment Percentage Grp 4 0.000000%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~437799~~309588 4.~~645017~~639674 5.~~182470~~177173 Weighted Average Net Rate 32.~~067555~~939187 4.~~391756~~386265 4.~~853693~~848477 Pass-Through Rate 2.918187 4.365265 4.827477 Weighted Average Maturity ~~357~~356 ~~361~~360 ~~354~~353 Beginning Loan Count ~~386~~383 ~~277~~268 ~~977~~950 Loans Paid In Full 37 9 2725 Ending Loan Count ~~383~~376 ~~268~~259 ~~950~~925 Beginning Scheduled Balance ~~188~~187,~~481~~427,~~174~~660.7922 ~~114~~109,~~362~~254,~~808~~773.9680 ~~393~~380,~~398~~478,~~781~~965.5200 Ending scheduled Balance ~~187~~185,~~427~~063,~~660~~688.2251 ~~109~~104,~~254~~420,~~773~~035.8073 ~~380~~363,~~478~~942,~~965~~373.0021 Record Date 0405/3031/2003 0405/3031/2003 0405/3031/2003 Principal And Interest Constant ~~547~~524,~~947~~714.3903 ~~467~~445,~~194~~918.6524 1,~~782~~722,~~036~~551.4082 Scheduled Principal 7,~~980~~790.4143 2423,~~513~~496.6214 8381,~~055~~047.1640 Unscheduled Principal 12,~~045~~356,~~534~~181.1628 54,~~083~~811,~~521~~241.5493 1216,~~836~~455,~~761~~544.3639 Scheduled Interest ~~539~~516,~~966~~923.9860 ~~442~~422,~~681~~422.0310 1,~~698~~641,~~981~~504.2442 Servicing Fees 5857,~~153~~852.4080 2423,~~136~~071.4375 ~~107~~104,~~783~~218.7204 Master Servicing Fees 3,~~141~~123.3478 1,~~906~~820.0591 6,~~556~~341.6633 Trustee Fee ~~157~~156.1020 9591.3004 ~~327~~317.8305 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 ~~478~~455,~~515~~790.1482 ~~416~~397,~~543~~438.2540 1,~~584~~530,~~313~~628.0300 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 3.046555 4.370756 4.832693~~

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~671137~~669262 4.~~700084~~655908 Weighted Average Net Rate 5.~~421137~~419262 4.~~378269~~333687 Pass-Through Rate 5.398262 4.312687 Weighted Average Maturity 354 355 ~~356~~ Beginning Loan Count 8381 1,~~723~~682 Loans Paid In Full 2 4143 Ending Loan Count 8179 1,~~682~~639 Beginning Scheduled Balance 5655,~~067~~045,~~576~~778.1909 ~~752~~732,~~310~~207,~~341~~177.4611 Ending scheduled Balance 5553,~~045~~888,~~778~~840.0974 ~~732~~707,~~207~~314,~~177~~938.1119 Record Date 0405/3031/2003 0405/3031/2003 Principal And Interest Constant ~~271~~266,~~594~~716.7175 32,~~068~~959,~~773~~900.1584 Scheduled Principal 6,~~622~~659.28 ~~122~~118,~~171~~993.4725 Unscheduled Principal 1,~~015~~150,~~175~~278.8207 1924,~~980~~773,~~992~~245.8867 Scheduled Interest ~~264~~260,~~972~~057.4347 2,~~946~~840,~~601~~907.6859 Servicing Fees 11,~~680~~467.7588 ~~201~~196,~~754~~610.3047 Master Servicing Fees ~~934~~917.4543 12,~~538~~203.5045 Trustee Fee 4645.7286 ~~626~~610.9515 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 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 ~~252~~247,~~310~~626.5130 2,~~731~~631,~~681~~483.9352 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 5.400137 4.357269~~

Filing Compare · GREENWICH CAPITAL ACCEPTANCE INC THORN MORT SEC TR 2003-1