8-K 1 mlm03wm1.txt JULY 8-K m 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): July 25, 2003 MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2003-WM1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-101760-03 54-2102398 Pooling and Servicing Agreement) (Commission 54-2102399 (State or other File Number) 54-2102397 jurisdiction 54-6535292 of Incorporation) 54-6535291 54-6535287 IRS EIN c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, Maryland 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 July 25, 2003 a distribution was made to holders of MERRILL LYNCH MORTGAGE INVESTORS, INC., Mortgage Loan Asset-Backed Certificates, Series 2003-WM1 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 Loan Asset-Backed Certificates, Series 2003-WM1 Trust, relating to the July 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. MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2003-WM1 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 8/7/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2003-WM1 Trust, relating to the July 25, 2003 distribution. EX-99.1

Merrill Lynch Mortgage Loans, Inc. Mortgage Loan Asset-Backed Certificates Record Date: 56/3130/03 Distribution Date: 67/25/03 MLM Series: 2003-~~WMC1~~WM1 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 R 58992903R Sen 1.~~72000~~43500% 0.00 0.00 0.00 A1 589929J25 Sen 1.~~72000~~43500% ~~287~~282,~~101~~121,~~846~~873.9603 ~~397~~337,~~795~~370.5674 45,~~979~~870,~~973~~451.9318 A2 589929J33 Sen 1.~~68000~~39500% ~~324~~314,~~159~~184,~~454~~584.5715 ~~438~~365,~~695~~239.8058 98,~~974~~547,~~870~~004.4290 M1 589929J41 Sub 21.~~17000~~88500% 56,592,000.00 9888,~~925~~896.9660 0.00 M2 589929J58 Sub 32.~~27000~~98500% 39,289,000.00 ~~103~~97,~~493~~731.7739 0.00 B1 589929J66 Sub 4.~~32000~~03500% 30,325,000.00 ~~105~~101,~~531~~967.0081 0.00 B2 589929J74 Sub 4.~~32000~~03500% 11,906,000.00 4140,~~432~~033.8893 0.00 C 58992903C Sub 0.00000% 12,699,647.00 3,~~599~~483,~~161~~133.8354 0.00 P 58992903P Sub 0.00000% 0.00 ~~179~~166,~~209~~920.3742 0.00 S 589929J90 Sub 0.~~00063~~28563% 0.00 ~~380~~174,809.3195 0.00 Totals ~~762~~747,~~072~~118,~~948~~104.5318 4,~~964~~856,~~626~~103.4896 14,~~954~~417,~~844~~456.3508

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses R 0.00 0.00 0.00 0.00 A1 0.00 ~~282~~276,~~121~~251,~~873~~421.0385 56,~~377~~207,~~769~~821.4992 0.00 A2 0.00 ~~314~~305,~~184~~637,~~584~~579.1525 108,~~413~~912,~~566~~244.2248 0.00 M1 0.00 56,592,000.00 9888,~~925~~896.9660 0.00 M2 0.00 39,289,000.00 ~~103~~97,~~493~~731.7739 0.00 B1 0.00 30,325,000.00 ~~105~~101,~~531~~967.0081 0.00 B2 0.00 11,906,000.00 4140,~~432~~033.8893 0.00 C 0.00 12,699,647.00 3,~~599~~483,~~161~~133.8354 0.00 P 0.00 0.00 ~~179~~166,~~209~~920.3742 0.00 S 0.00 0.00 ~~380~~174,809.3195 0.00 Totals 0.00 ~~747~~732,~~118~~700,~~104~~648.1810 19,~~919~~273,~~470~~560.8304 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) R 100.00 0.00 0.00 0.00 0.00 0.00 A1 298,080,000.00 ~~287~~282,~~101~~121,~~846~~873.9603 0.00 45,~~979~~870,~~973~~451.9318 0.00 0.00 A2 343,195,000.00 ~~324~~314,~~159~~184,~~454~~584.5715 0.00 98,~~974~~547,~~870~~004.4290 0.00 0.00 M1 56,592,000.00 56,592,000.00 0.00 0.00 0.00 0.00 M2 39,289,000.00 39,289,000.00 0.00 0.00 0.00 0.00 B1 30,325,000.00 30,325,000.00 0.00 0.00 0.00 0.00 B2 11,906,000.00 11,906,000.00 0.00 0.00 0.00 0.00 C 12,673,442.37 12,699,647.00 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 S 0.00 0.00 0.00 0.00 0.00 0.00 Totals 792,060,542.37 ~~762~~747,~~072~~118,~~948~~104.5318 0.00 14,~~954~~417,~~844~~456.3508 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 R 0.00 0.00 0.00000000 0.00 A1 45,~~979~~870,~~973~~451.9318 ~~282~~276,~~121~~251,~~873~~421.0385 0.~~94646361~~92676940 45,~~979~~870,~~973~~451.9318 A2 98,~~974~~547,~~870~~004.4290 ~~314~~305,~~184~~637,~~584~~579.1525 0.~~91546958~~89056536 98,~~974~~547,~~870~~004.4290 M1 0.00 56,592,000.00 1.00000000 0.00 M2 0.00 39,289,000.00 1.00000000 0.00 B1 0.00 30,325,000.00 1.00000000 0.00 B2 0.00 11,906,000.00 1.00000000 0.00 C 0.00 12,699,647.00 1.00206768 0.00 P 0.00 0.00 0.00000000 0.00 S 0.00 0.00 0.00000000 0.00 Totals 14,~~954~~417,~~844~~456.3508 ~~747~~732,~~118~~700,~~104~~648.1810 0.~~94325883~~92505637 14,~~954~~417,~~844~~456.3508

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A1 298,080,000.00 ~~963~~946.~~17044740~~46361054 0.00000000 1619.~~70683686~~69421357 0.00000000 A2 343,195,000.00 ~~944~~915.~~53431597~~46958478 0.00000000 2924.~~06473119~~90422326 0.00000000 M1 56,592,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 39,289,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 30,325,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 11,906,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 12,673,442.37 1002.06768053 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 1619.~~70683686~~69421357 ~~946~~926.~~46361054~~76939697 0.~~94646361~~92676940 1619.~~70683686~~69421357 A2 0.00000000 2924.~~06473119~~90422326 ~~915~~890.~~46958478~~56536153 0.~~91546958~~89056536 2924.~~06473119~~90422326 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 0.00000000 0.00000000 1,002.06768053 1.00206768 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 S 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 R 100.00 1.~~72000~~43500% 0.00 0.00 0.00 0.00 A1 298,080,000.00 1.~~72000~~43500% ~~287~~282,~~101~~121,~~846~~873.9603 ~~397~~337,~~795~~370.5674 0.00 0.00 A2 343,195,000.00 1.~~68000~~39500% ~~324~~314,~~159~~184,~~454~~584.5715 ~~438~~365,~~695~~239.8058 0.00 0.00 M1 56,592,000.00 21.~~17000~~88500% 56,592,000.00 9888,~~925~~896.9660 0.00 0.00 M2 39,289,000.00 32.~~27000~~98500% 39,289,000.00 ~~103~~97,~~493~~731.7739 0.00 0.00 B1 30,325,000.00 4.~~32000~~03500% 30,325,000.00 ~~105~~101,~~531~~967.0081 0.00 0.00 B2 11,906,000.00 4.~~32000~~03500% 11,906,000.00 4140,~~432~~033.8893 0.00 0.00 C 12,673,442.37 0.00000% 12,699,647.00 0.00 0.00 0.00 P 0.00 0.00000% 0.01 0.00 0.00 0.00 S 0.00 0.~~00063~~28563% ~~749~~734,~~373~~418,~~301~~457.5318 ~~380~~174,809.3195 0.00 0.00 Totals 792,060,542.37 1,~~186~~206,~~255~~050.2800 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 R 0.00 0.00 0.00 0.00 0.00 A1 0.00 0.00 ~~397~~337,~~795~~370.5674 0.00 ~~282~~276,~~121~~251,~~873~~421.0385 A2 0.00 0.00 ~~438~~365,~~695~~239.8058 0.00 ~~314~~305,~~184~~637,~~584~~579.1525 M1 0.00 0.00 9888,~~925~~896.9660 0.00 56,592,000.00 M2 0.00 0.00 ~~103~~97,~~493~~731.7739 0.00 39,289,000.00 B1 0.00 0.00 ~~105~~101,~~531~~967.0081 0.00 30,325,000.00 B2 0.00 0.00 4140,~~432~~033.8893 0.00 11,906,000.00 C 0.00 0.00 3,~~599~~483,~~161~~133.8354 0.00 12,699,647.00 P 0.00 0.00 ~~179~~166,~~209~~920.3742 0.00 0.01 S 0.00 0.00 ~~380~~174,809.3195 0.00 ~~734~~720,~~418~~001,~~457~~001.1810 Totals 0.00 0.00 4,~~964~~856,~~626~~103.4896 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 R 100.00 1.~~72000~~43500% 0.00000000 0.00000000 0.00000000 0.00000000 A1 298,080,000.00 1.~~72000~~43500% ~~963~~946.~~17044740~~46361054 1.~~33452617~~13181273 0.00000000 0.00000000 A2 343,195,000.00 1.~~68000~~39500% ~~944~~915.~~53431597~~46958478 1.~~27826979~~06423340 0.00000000 0.00000000 M1 56,592,000.00 21.~~17000~~88500% 1000.00000000 1.~~74805556~~57083333 0.00000000 0.00000000 M2 39,289,000.00 32.~~27000~~98500% 1000.00000000 2.~~63416656~~48750006 0.00000000 0.00000000 B1 30,325,000.00 4.~~32000~~03500% 1000.00000000 3.~~48000000~~36249992 0.00000000 0.00000000 B2 11,906,000.00 4.~~32000~~03500% 1000.00000000 3.~~48000000~~36250042 0.00000000 0.00000000 C 12,673,442.37 0.00000% 1002.06768053 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.~~00063~~28563% ~~961~~942.~~49051162~~30255695 0.~~00048796~~22429156 0.00000000 0.00000000 Per $1000 denomination. class B and C certificates are per $1 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 0.00000000 1.~~33452617~~13181273 0.00000000 ~~946~~926.~~46361054~~76939697 A2 0.00000000 0.00000000 1.~~27826979~~06423340 0.00000000 ~~915~~890.~~46958478~~56536153 M1 0.00000000 0.00000000 1.~~74805556~~57083333 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~63416656~~48750006 0.00000000 1000.00000000 B1 0.00000000 0.00000000 3.~~48000000~~36249992 0.00000000 1000.00000000 B2 0.00000000 0.00000000 3.~~48000000~~36250042 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~283~~274.~~99244064~~83720984 0.00000000 1002.06768053 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00000000 0.00000000 0.~~00048796~~22429156 0.00000000 ~~942~~923.~~30255695~~80410338 (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 2019,~~039~~381,~~417~~271.2955 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~167~~216,~~179~~610.6420 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~179~~166,~~209~~920.3742 Total Deposits 2019,~~385~~764,~~806~~802.3017 Withdrawals Reimbursement for Servicer Advances ~~135~~167,~~786~~179.3764 Payment of Service Fee ~~330~~324,~~549~~062.1049 Payment of Interest and Principal 19,~~919~~273,~~470~~560.8304 Total Withdrawals (Pool Distribution Amount) 2019,~~385~~764,~~806~~802.3017 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~317~~311,~~530~~299.3820 Credit Risk Manager Fee 9,~~843~~650.4428 Trustee Fee 3,~~175~~113.2801 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~330~~324,~~549~~062.1049

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 ~~200~~205 0 0 0 ~~200~~205 3332,~~079~~516,~~075~~543.0642 0.00 0.00 0.00 3332,~~079~~516,~~075~~543.0642 60 Days 5668 0 0 0 5668 913,~~266~~585,~~656~~228.3068 0.00 0.00 0.00 913,~~266~~585,~~656~~228.3068 90 Days 3836 0 0 0 3836 85,~~075~~963,~~562~~264.1845 0.00 0.00 0.00 85,~~075~~963,~~562~~264.1845 120 Days 231 0 0 0 231 ~~519~~6,~~776~~154,630.4970 0.00 0.00 0.00 ~~519~~6,~~776~~154,630.4970 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 ~~296~~340 0 0 0 ~~296~~340 5058,~~941~~219,~~070~~667.0325 0.00 0.00 0.00 5058,~~941~~219,~~070~~667.0325 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 4.~~322455~~502526% 0.000000% 0.000000% 0.000000% 4.~~322455~~502526% 4.~~424808~~434848% 0.000000% 0.000000% 0.000000% 4.~~424808~~434848% 60 Days 1.~~210287~~493521% 0.000000% 0.000000% 0.000000% 1.~~210287~~493521% 1.~~239550~~852854% 0.000000% 0.000000% 0.000000% 1.~~239550~~852854% 90 Days 0.~~821266~~790687% 0.000000% 0.000000% 0.000000% 0.~~821266~~790687% 10.~~080224~~813314% 0.000000% 0.000000% 0.000000% 10.~~080224~~813314% 120 Days 0.~~043225~~680870% 0.000000% 0.000000% 0.000000% 0.~~043225~~680870% 0.~~069528~~839414% 0.000000% 0.000000% 0.000000% 0.~~069528~~839414% 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 67.~~397234~~467604% 0.000000% 0.000000% 0.000000% 67.~~397234~~467604% 67.~~814110~~940431% 0.000000% 0.000000% 0.000000% 67.~~814110~~940431%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~167~~216,~~179~~610.6420

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.~~055869~~052134% Weighted Average Net Coupon 7.~~555869~~552134% Weighted Average Pass-Through Rate 7.~~535369~~531634% Weighted Average Maturity (Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 4,~~699~~627 Number Of Loans Paid In Full 7274 Ending Scheduled Collateral Loan Count 4,~~627~~553 Beginning Scheduled Collateral Balance ~~762~~747,~~072~~118,~~948~~104.5318 Ending Scheduled Collateral Balance ~~747~~732,~~118~~700,~~104~~648.1810 Ending Actual Collateral Balance at 3130-~~May~~Jun-2003 ~~747~~733,~~582~~205,~~204~~373.2198 Monthly P &I Constant 5,~~670~~561,~~379~~961.1273 Special Servicing Fee 0.00 Prepayment Penalties ~~179~~166,~~209~~920.3742 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~747~~732,~~118~~700,~~104~~648.1810 Scheduled Principal ~~552~~546,~~671~~979.2834 Unscheduled Principal 1413,~~402~~870,~~173~~476.0774 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 12,699,647.00 Overcollateralized Amount 12,699,647.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 3,~~599~~483,~~161~~133.8354

Filing Compare · MERRILL LYNCH MORT INV INC MORT LN AST BCK CE SER 2003-WMC1