8-K 1 ffm03ff1.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 FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2003-FF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-104153-02 Pooling and Servicing Agreement) (Commission 54-2110371 (State or other File Number) 54-2110372 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 June 25, 2003 a distribution was made to holders of FIRST FRANKLIN MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2003-FF1 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 Asset Backed Certificates, Series 2003-FF1 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2003-FF1 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 7/1/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2003-FF1 Trust, relating to the June 25, 2003 distribution.

First Franklin Mortgage Loan Trust Asset- Backed Certificates Record Date: 45/3031/03 Distribution Date: 56/2725/03 FFM Series: 2003-FF1 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 32027NBX8 SEN 2.23400% ~~394~~392,~~105~~982,~~000~~742.0010 ~~733~~731,~~692~~602.1286 1,~~122~~613,~~208~~391.6996 A-2 32027NBY6 SEN 2.26500% ~~133~~131,~~626~~801,~~000~~349.0074 ~~252~~248,~~219~~775.0704 1890,~~824,650~~428.2618 M-1 32027NBZ3 MEZ 2.68800% 27,140,000.00 60,793.60 0.00 M-2 32027NCA7 MEZ 3.07000% 25,633,000.00 6963,~~949~~391.6183 0.00 M-3F 32027NCB5 MEZ 5.59200% 8,500,000.00 39,610.00 0.00 M-3V 32027NCC3 MEZ 3.82000% 5,070,000.00 1715,~~215~~601.4752 0.00 M-4 32027NCD1 MEZ 4.32000% 3,920,000.00 1513,~~052~~641.8060 0.00 R-1 FFM3FF1R1 SEN 0.00000% 0.00 0.00 0.00 C FFM03FF1C SEN 0.00000% 5,~~125~~126,~~991~~520.0977 2,~~083~~057,~~400~~824.2504 0.00 P FFM03FF1P SEN 0.00000% 100.00 3625,~~180~~415.7755 0.00 DIV_CERT SEN 0.00000% 0.00 0.00 0.00 Totals ~~603~~600,~~120~~173,~~091~~712.0961 3,~~308~~256,~~113~~656.6904 2,~~946~~503,~~858~~820.9514

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~392~~391,~~982~~369,~~791~~350.3114 12,~~855~~344,~~900~~994.8182 0.00 A-2 0.00 ~~131~~130,~~801~~910,~~349~~921.7456 21,~~076~~139,~~869~~203.3322 0.00 M-1 0.00 27,140,000.00 60,793.60 0.00 M-2 0.00 25,633,000.00 6963,~~949~~391.6183 0.00 M-3F 0.00 8,500,000.00 39,610.00 0.00 M-3V 0.00 5,070,000.00 1715,~~215~~601.4752 0.00 M-4 0.00 3,920,000.00 1513,~~052~~641.8060 0.00 R-1 0.00 0.00 0.00 0.00 C 0.00 5,126,520.77 2,~~083~~057,~~400~~824.2504 0.00 P 0.00 100.00 3625,~~180~~415.7755 0.00 DIV_CERT 0.00 0.00 0.00 0.00 Totals 0.00 ~~600~~597,~~173~~669,~~761~~892.8247 65,~~254~~760,~~972~~476.6418 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-1 394,105,000.00 ~~394~~392,~~105~~982,~~000~~742.0010 0.00 1,~~122~~613,~~208~~391.6996 0.00 0.00 A-2 133,626,000.00 ~~133~~131,~~626~~801,~~000~~349.0074 0.00 1890,~~824,650~~428.2618 0.00 0.00 M-1 27,140,000.00 27,140,000.00 0.00 0.00 0.00 0.00 M-2 25,633,000.00 25,633,000.00 0.00 0.00 0.00 0.00 M-3F 8,500,000.00 8,500,000.00 0.00 0.00 0.00 0.00 M-3V 5,070,000.00 5,070,000.00 0.00 0.00 0.00 0.00 M-4 3,920,000.00 3,920,000.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 C 5,125,991.09 5,~~125~~126,~~991~~520.0977 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 DIV_CERT 0.00 0.00 0.00 0.00 0.00 0.00 Totals 603,120,091.09 ~~603~~600,~~120~~173,~~091~~712.0961 0.00 2,~~946~~503,~~858~~820.9514 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 1,~~122~~613,~~208~~391.6996 ~~392~~391,~~982~~369,~~791~~350.3114 0.~~99715251~~99305858 1,~~122~~613,~~208~~391.6996 A-2 1890,~~824,650~~428.2618 ~~131~~130,~~801~~910,~~349~~921.7456 0.~~98634510~~97968151 1890,~~824,650~~428.2618 M-1 0.00 27,140,000.00 1.00000000 0.00 M-2 0.00 25,633,000.00 1.00000000 0.00 M-3F 0.00 8,500,000.00 1.00000000 0.00 M-3V 0.00 5,070,000.00 1.00000000 0.00 M-4 0.00 3,920,000.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 C 0.00 5,126,520.77 1.00010333 0.00 P 0.00 100.00 1.00000000 0.00 DIV_CERT 0.00 0.00 0.00000000 0.00 Totals 2,~~946~~503,~~858~~820.9514 ~~600~~597,~~173~~669,~~761~~892.8247 0.~~99511485~~99096333 2,~~946~~503,~~858~~820.9514

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 394,105,000.00 ~~1000~~997.~~00000000~~15238858 0.00000000 24.~~84748656~~09381246 0.00000000 A-2 133,626,000.00 ~~1000~~986.~~00000000~~34509557 0.00000000 136.~~65490443~~66358478 0.00000000 M-1 27,140,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 25,633,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3F 8,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3V 5,070,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 3,920,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 5,125,991.09 1000.~~00000000~~10333221 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 DIV_CERT 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 A-1 0.00000000 24.~~84748656~~09381246 ~~997~~993.~~15251344~~05857612 0.~~99715251~~99305858 24.~~84748656~~09381246 A-2 0.00000000 136.~~65490443~~66358478 ~~986~~979.~~34509557~~68151078 0.~~98634510~~97968151 136.~~65490443~~66358478 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3V 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 1,000.10333221 1.00010333 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 DIV_CERT 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 A-1 394,105,000.00 2.23400% ~~394~~392,~~105~~982,~~000~~742.0010 ~~733~~731,~~692~~602.1487 0.00 0.00 A-2 133,626,000.00 2.26500% ~~133~~131,~~626~~801,~~000~~349.0074 ~~252~~248,~~219~~775.0805 0.00 0.00 M-1 27,140,000.00 2.68800% 27,140,000.00 60,793.60 0.00 0.00 M-2 25,633,000.00 3.07000% 25,633,000.00 6963,~~949~~391.6183 0.00 0.00 M-3F 8,500,000.00 5.59200% 8,500,000.00 39,610.00 0.00 0.00 M-3V 5,070,000.00 3.82000% 5,070,000.00 1715,~~215~~601.4752 0.00 0.00 M-4 3,920,000.00 4.32000% 3,920,000.00 1513,~~052~~641.8060 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 C 5,125,991.09 0.00000% 5,~~125~~126,~~991~~520.0977 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 DIV_CERT 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 603,120,091.09 1,~~188~~173,~~532~~416.7047 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 0.0200 0.00 ~~733~~731,~~692~~602.1286 0.00 ~~392~~391,~~982~~369,~~791~~350.3114 A-2 0.0100 0.00 ~~252~~248,~~219~~775.0704 0.00 ~~131~~130,~~801~~910,~~349~~921.7456 M-1 0.00 0.00 60,793.60 0.00 27,140,000.00 M-2 0.00 0.00 6963,~~949~~391.6183 0.00 25,633,000.00 M-3F 0.00 0.00 39,610.00 0.00 8,500,000.00 M-3V 0.00 0.00 1715,~~215~~601.4752 0.00 5,070,000.00 M-4 0.00 0.00 1513,~~052~~641.8060 0.00 3,920,000.00 R-1 0.00 0.00 0.00 0.00 0.00 C 0.00 0.00 2,~~083~~057,~~400~~824.2504 0.00 5,126,520.77 P 0.00 0.00 3625,~~180~~415.7755 0.00 100.00 DIV_CERT 0.00 0.00 0.00 0.00 0.00 Totals 0.0300 0.00 3,~~308~~256,~~113~~656.6904 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-1 394,105,000.00 2.23400% ~~1000~~997.~~00000000~~15238858 1.~~86166666~~85636536 0.00000000 0.00000000 A-2 133,626,000.00 2.26500% ~~1000~~986.~~00000000~~34509557 1.~~88750004~~86172639 0.00000000 0.00000000 M-1 27,140,000.00 2.68800% 1000.00000000 2.24000000 0.00000000 0.00000000 M-2 25,633,000.00 3.07000% 1000.00000000 2.~~72888893~~47305544 0.00000000 0.00000000 M-3F 8,500,000.00 5.59200% 1000.00000000 4.66000000 0.00000000 0.00000000 M-3V 5,070,000.00 3.82000% 1000.00000000 3.~~39555621~~07722288 0.00000000 0.00000000 M-4 3,920,000.00 4.32000% 1000.00000000 3.~~84000000~~48000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 C 5,125,991.09 0.00000% 1000.~~00000000~~10333221 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 DIV_CERT 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 A-1 0.~~00000005~~00000000 0.00000000 1.~~86166661~~85636533 0.00000000 ~~997~~993.~~15251344~~05857612 A-2 0.~~00000007~~00000000 0.00000000 1.~~88749996~~86172631 0.00000000 ~~986~~979.~~34509557~~68151078 M-1 0.00000000 0.00000000 2.24000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~72888893~~47305544 0.00000000 1000.00000000 M-3F 0.00000000 0.00000000 4.66000000 0.00000000 1000.00000000 M-3V 0.00000000 0.00000000 3.~~39555621~~07722288 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~84000000~~48000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 ~~406~~401.~~43852348~~44900837 0.00000000 1000.10333221 P 0.00000000 0.00000000 ~~361807~~254155.~~70000000~~50000000 0.00000000 1000.00000000 DIV_CERT 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 35,~~913~~998,~~577~~511.3791 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~2,596,087~~0.8800 Realized ~~Losses~~Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 3625,~~180~~415.7755 Total Deposits 6,~~545~~023,~~846~~927.0246 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~254~~263,~~692~~451.6228 Payment of Interest and Principal 65,~~254~~760,~~972~~476.6318 Total Withdrawals (Pool Distribution Amount) 6,~~509~~023,~~665~~927.2546 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 0.0300

SERVICING FEES Gross Servicing Fee ~~251~~250,~~300~~072.0438 Back-up Master Servicing Fee 10,002.88 Wells Fargo 3,~~392~~376.5802 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~254~~263,~~692~~451.6228

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 ~~2,484~~264 0 0 0 ~~2,484~~264 ~~432~~38,~~242~~149,~~314~~368.7672 0.00 0.00 0.00 ~~432~~38,~~242~~149,~~314~~368.7672 60 Days 128 0 0 0 128 1,~~999~~143,~~769~~701.5423 0.00 0.00 0.00 1,~~999~~143,~~769~~701.5423 90 Days 30 0 0 0 30 ~~622,726~~0.1800 0.00 0.00 0.00 ~~622,726~~0.1800 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 ~~2,499~~272 0 0 0 ~~2,499~~272 ~~434~~39,~~864~~293,~~810~~069.4895 0.00 0.00 0.00 ~~434~~39,~~864~~293,~~810~~069.4895 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 707.~~248869~~489362% 0.000000% 0.000000% 0.000000% 707.~~248869~~489362% 726.~~019535~~383017% 0.000000% 0.000000% 0.000000% 726.~~019535~~383017% 60 Days 0.~~339367~~226950% 0.000000% 0.000000% 0.000000% 0.~~339367~~226950% 0.~~333198~~191360% 0.000000% 0.000000% 0.000000% 0.~~333198~~191360% 90 Days 0.~~084842~~000000% 0.000000% 0.000000% 0.000000% 0.~~084842~~000000% 0.~~103758~~000000% 0.000000% 0.000000% 0.000000% 0.~~103758~~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 707.~~673077~~716312% 0.000000% 0.000000% 0.000000% 707.~~673077~~716312% 726.~~456491~~574377% 0.000000% 0.000000% 0.000000% 726.~~456491~~574377%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~2,596,087~~0.8800

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~017817~~015899% Weighted Average Net Coupon 6.~~517817~~515899% Weighted Average Pass-Through Rate 6.~~511067~~489149% Weighted Average Maturity(Stepdown Calculation ) ~~355~~354 Beginning Scheduled Collateral Loan Count 3,~~545~~536 Number Of Loans Paid In Full 911 Ending Scheduled Collateral Loan Count 3,~~536~~525 Beginning Scheduled Collateral Balance ~~603~~600,~~120~~173,~~091~~761.0982 Ending Scheduled Collateral Balance ~~600~~597,~~173~~669,~~761~~892.8248 Ending Actual Collateral Balance at 3031-~~Apr~~May-2003 ~~600~~597,~~173~~669,~~712~~892.6248 Monthly P &I Constant 3,~~855~~837,~~772~~492.1555 Special Servicing Fee 0.00 Prepayment Penalties 3625,~~180~~415.7755 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~600~~597,~~173~~669,~~761~~892.8248 Scheduled Principal 328,~~616~~527.9337 Unscheduled Principal 2,~~617~~175,~~712~~292.3477

Miscellaneous Reporting Credit Enhancement 12.~~499831~~561283% Stepdown Date in Effect NO Trigger Event NO Overcollaterized Target Amount 5,126,520.77 Overcollaterized Increase Amount ~~529~~0.6800 Overcollaterized Reduction Amount 0.00 Overcollaterization Amount 5,126,520.77 Specified Overcollaterization Amount 5,126,520.77 Overcollaterized Deficiency Amount 0.00 Overcollaterized Release Amount 0.00 Extra Principal Amount ~~529~~0.6800

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.~~552218~~550005 7.~~067921~~066105 7.~~061026~~061077 Weighted Average Net Rate 7.~~052218~~050005 6.~~567921~~566105 6.~~561026~~561078 Pass-Through Rate 7.023255 6.539355 6.534327 Weighted Average Maturity ~~355~~354 354 355 ~~356~~ Beginning Loan Count ~~616~~615 2,~~590~~586 46 Loans Paid In Full 10 410 0 Ending Loan Count 615 2,~~586~~576 46 Beginning Scheduled Balance 72,~~546~~366,~~162~~763.6216 ~~377~~376,~~858~~916,~~959~~352.7725 21,~~229~~209,~~488~~097.0227 Ending scheduled Balance 72,~~366~~290,~~763~~977.1631 ~~376~~375,~~916~~378,~~352~~696.2594 21,~~209~~188,~~097~~468.2798 Record Date 0405/3031/2003 0405/3031/2003 0405/3031/2003 Principal And Interest Constant ~~521~~520,~~651~~766.3410 2,~~418~~412,~~542~~447.0822 144,668.53 Scheduled Principal 65,~~081~~458.0071 ~~192~~193,~~977~~004.5889 19,~~750~~869.2330 Unscheduled Principal ~~114~~10,~~318~~255.4660 ~~749~~1,~~629~~344,672.9476 ~~640~~758.5299 Scheduled Interest ~~456~~455,~~570~~307.3439 2,~~225~~219,~~564~~442.5033 124,~~918~~799.3023 Servicing Fees 30,~~227~~152.5779 157,~~441~~048.2449 8,~~845~~837.6212 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~408~~407.07 2,~~125~~120.4718 119.4230 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 01,206.0011 06,281.0094 0353.0048 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 ~~425~~423,~~934~~541.7042 2,~~065~~053,~~997~~991.7972 115,~~953~~489.2633 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 7.045468 6.561171 6.554276~~

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.~~571999~~564538 7.~~017817~~015899 Weighted Average Net Rate 6.~~071999~~064538 6.~~517817~~515899 Pass-Through Rate 6.037788 6.489149 Weighted Average Maturity ~~356~~ 355 354 Beginning Loan Count ~~293~~289 3,~~545~~536 Loans Paid In Full 41 911 Ending Loan Count ~~289~~288 3,~~536~~525 Beginning Scheduled Balance ~~131~~129,~~485~~681,~~480~~549.6814 ~~603~~600,~~120~~173,~~091~~761.0982 Ending scheduled Balance ~~129~~128,~~681~~811,~~549~~749.1425 ~~600~~597,~~173~~669,~~761~~892.8248 Record Date 0405/3031/2003 0405/3031/2003 Principal And Interest Constant ~~770~~759,~~910~~610.2070 3,~~855~~837,~~772~~492.1555 Scheduled Principal 50,~~808~~194.1247 328,~~616~~527.9337 Unscheduled Principal 1819,~~753,123~~605.42 2,~~617~~175,~~712~~292.3477 Scheduled Interest ~~720~~709,~~102~~416.0823 3,~~527~~508,~~155~~965.2218 Servicing Fees 54,~~785~~033.6198 ~~251~~250,~~300~~072.0438 Master Servicing Fees 0.00 0.00 Trustee Fee ~~739~~729.6247 3,~~392~~376.5802 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 02,161.0035 010,002.0088 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 ~~664~~652,~~576~~491.8543 3,~~272~~245,~~462~~513.6090 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 6.065249 6.511067~~

Filing Compare · FINANCIAL ASSET SEC CORP FIRST FRANKLIN MORT LN TR 03 FF1