8-K 1 ffm03ffb.txt JULY 8K 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 FIRST REPUBLIC MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-FFB Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-102489-12 54-2114692 Pooling and Servicing Agreement) (Commission 54-2114693 (State or other File Number) 54-2114694 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 July 25, 2003 a distribution was made to holders of FIRST REPUBLIC MORTGAGE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2003-FFB 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-FFB 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. FIRST REPUBLIC MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-FFB Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 7/30/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-FFB Trust, relating to the July 25, 2003 distribution. EX-99.1

First Franklin Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 56/3130/03 Distribution Date: 67/25/03 FFM Series: 2003-FFB 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 FFM03FFBR RES 0.00000% 0.00 0.00 0.00 A-IO 32027NCG4 SEN 6.00000% 0.00 427,~~240~~239.0098 0.00 A 32027NCE9 SEN 1.~~71000~~43500% ~~203~~202,~~893~~559,~~000~~830.0094 ~~300~~242,~~232~~227.4479 1,~~333~~582,~~169~~922.0601 M-1 32027NCH2 SUB 2.~~31000~~03500% 20,721,000.00 4135,~~217~~139.5236 0.00 M-2 32027NCJ8 SUB 3.~~31000~~03500% 14,246,000.00 4036,~~605~~030.0651 0.00 B-1 32027NCK5 SUB 4.~~31000~~03500% 15,541,000.00 5752,~~678~~256.6961 0.00 B-2 32027NCL3 SUB 7.00000% 3,885,000.00 22,662.50 0.00 X FFM03FFBX SEN 0.00000% ~~648~~647,~~315~~336.4704 1,~~009~~070,~~692~~838.3807 0.00 P FFM03FFBP SEN 0.00000% 100.00 2327,~~794~~385.7100 0.00 Totals ~~258~~257,~~934~~600,~~415~~266.4798 1,~~923~~913,~~123~~779.3082 1,~~333~~582,~~169~~922.0601

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 A-IO 0.00 0.00 427,~~240~~239.0098 0.00 A 0.00 ~~202~~200,~~559~~976,~~830~~908.9493 1,~~633~~825,~~401~~149.5080 0.00 M-1 0.00 20,721,000.00 4135,~~217~~139.5236 0.00 M-2 0.00 14,246,000.00 4036,~~605~~030.0651 0.00 B-1 0.00 15,541,000.00 5752,~~678~~256.6961 0.00 B-2 0.00 3,885,000.00 22,662.50 0.00 X 0.00 647,336.04 1,~~009~~070,~~692~~838.3807 0.00 P 0.00 100.00 2327,~~794~~385.7100 0.00 Totals 0.00 ~~257~~256,~~600~~017,~~266~~344.9897 3,~~256~~496,~~292~~701.3683 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 0.00 0.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 A 203,893,000.00 ~~203~~202,~~893~~559,~~000~~830.0094 0.00 1,~~333~~582,~~169~~922.0601 0.00 0.00 M-1 20,721,000.00 20,721,000.00 0.00 0.00 0.00 0.00 M-2 14,246,000.00 14,246,000.00 0.00 0.00 0.00 0.00 B-1 15,541,000.00 15,541,000.00 0.00 0.00 0.00 0.00 B-2 3,885,000.00 3,885,000.00 0.00 0.00 0.00 0.00 X 648,315.47 ~~648~~647,~~315~~336.4704 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 258,934,415.47 ~~258~~257,~~934~~600,~~415~~266.4798 0.00 1,~~333~~582,~~169~~922.0601 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 A-IO 0.00 0.00 0.00000000 0.00 A 1,~~333~~582,~~169~~922.0601 ~~202~~200,~~559~~976,~~830~~908.9493 0.~~99346143~~98569793 1,~~333~~582,~~169~~922.0601 M-1 0.00 20,721,000.00 1.00000000 0.00 M-2 0.00 14,246,000.00 1.00000000 0.00 B-1 0.00 15,541,000.00 1.00000000 0.00 B-2 0.00 3,885,000.00 1.00000000 0.00 X 0.00 647,336.04 0.99848927 0.00 P 0.00 100.00 1.00000000 0.00 Totals 1,~~333~~582,~~169~~922.0601 ~~257~~256,~~600~~017,~~266~~344.9897 0.~~99484754~~98873433 1,~~333~~582,~~169~~922.0601

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A 203,893,000.00 ~~1000~~993.~~00000000~~46142800 0.00000000 67.~~53857200~~76349365 0.00000000 M-1 20,721,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 14,246,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 15,541,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 3,885,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 648,315.47 ~~1000~~998.~~00000000~~48926943 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 (2) All Deals 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A 0.00000000 67.~~53857200~~76349365 ~~993~~985.~~46142800~~69793436 0.~~99346143~~98569793 67.~~53857200~~76349365 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 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 998.48926943 0.99848927 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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 0.00 0.00000% 0.00 0.00 0.00 0.00 A-IO 0.00 6.00000% 85,448,000.00 427,240.00 0.00 0.00 A 203,893,000.00 1.~~71000~~43500% ~~203~~202,~~893~~559,~~000~~830.0094 ~~300~~242,~~232~~227.4480 0.00 0.00 M-1 20,721,000.00 2.~~31000~~03500% 20,721,000.00 4135,~~217~~139.5236 0.00 0.00 M-2 14,246,000.00 3.~~31000~~03500% 14,246,000.00 4036,~~605~~030.0651 0.00 0.00 B-1 15,541,000.00 4.~~31000~~03500% 15,541,000.00 5752,~~678~~256.6961 0.00 0.00 B-2 3,885,000.00 7.00000% 3,885,000.00 22,662.50 0.00 0.00 X 648,315.47 0.00000% ~~648~~647,~~315~~336.4704 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 258,934,415.47 ~~889~~815,~~636~~556.2178 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 A-IO 0.0002 0.00 427,~~240~~239.0098 0.00 85,448,000.00 A 0.0001 0.00 ~~300~~242,~~232~~227.4479 0.00 ~~202~~200,~~559~~976,~~830~~908.9493 M-1 0.00 0.00 4135,~~217~~139.5236 0.00 20,721,000.00 M-2 0.00 0.00 4036,~~605~~030.0651 0.00 14,246,000.00 B-1 0.00 0.00 5752,~~678~~256.6961 0.00 15,541,000.00 B-2 0.00 0.00 22,662.50 0.00 3,885,000.00 X 0.00 0.00 1,~~009~~070,~~692~~838.3807 0.00 647,336.04 P 0.00 0.00 2327,~~794~~385.7100 0.00 100.00 Totals 0.0003 0.00 1,~~923~~913,~~123~~779.3082 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 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 A 203,893,000.00 1.~~71000~~43500% ~~1000~~993.~~00000000~~46142800 1.~~47249999~~18801430 0.00000000 0.00000000 M-1 20,721,000.00 2.~~31000~~03500% 1000.00000000 1.~~98916655~~69583321 0.00000000 0.00000000 M-2 14,246,000.00 3.~~31000~~03500% 1000.00000000 2.~~85027797~~52916678 0.00000000 0.00000000 B-1 15,541,000.00 4.~~31000~~03500% 1000.00000000 3.~~71138859~~36249984 0.00000000 0.00000000 B-2 3,885,000.00 7.00000% 1000.00000000 5.83333333 0.00000000 0.00000000 X 648,315.47 0.00000% ~~1000~~998.~~00000000~~48926943 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.~~00000000~~00000023 0.00000000 54.~~00000000~~99999977 0.00000000 1000.00000000 A 0.~~00000000~~00000005 0.00000000 1.~~47249999~~18801425 0.00000000 ~~993~~985.~~46142800~~69793436 M-1 0.00000000 0.00000000 1.~~98916655~~69583321 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~85027797~~52916678 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 3.~~71138859~~36249984 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 5.83333333 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~1557~~1651.~~40904964~~72376652 0.00000000 998.48926943 P 0.00000000 0.00000000 ~~237947~~273850.~~10000000~~00000000 0.00000000 1000.00000000 (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 3,~~554~~797,~~676~~102.4052 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~7,395~~0.8300 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 2327,~~794~~385.7100 Total Deposits 3,~~585~~824,~~866~~487.9452 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~329~~327,~~574~~785.5869 Payment of Interest and Principal 3,~~256~~496,~~292~~701.3683 Total Withdrawals (Pool Distribution Amount) 3,~~585~~824,~~866~~487.9452 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 0.0003

SERVICING FEES Gross Servicing Fee 107,~~889~~244.3275 Credit Risk Manager's Fee 3,~~236~~220.6800 PMI Premium ~~215~~214,~~319~~208.7625 Trustee Fee 3,~~128~~112.8269 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~329~~327,~~574~~785.5869

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 50 0 0 50 ~~135,242~~0.9000 0.00 0.00 ~~135,242~~0.9000 30 Days 1813 0 0 0 1813 ~~580~~418,~~942~~278.8518 0.00 0.00 0.00 ~~580~~418,~~942~~278.8518 60 Days 718 0 0 0 718 ~~279~~714,~~363~~895.2542 0.00 0.00 0.00 ~~279~~714,~~363~~895.2542 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 2531 50 0 0 3031 ~~860~~1,~~306~~133,173.1060 ~~135,242~~0.9000 0.00 0.00 ~~995~~1,~~549~~133,173.0060 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.~~084631~~000000% 0.000000% 0.000000% 0.~~084631~~000000% 0.~~052501~~000000% 0.000000% 0.000000% 0.~~052501~~000000% 30 Days 0.~~304672~~220938% 0.000000% 0.000000% 0.000000% 0.~~304672~~220938% 0.~~225521~~163379% 0.000000% 0.000000% 0.000000% 0.~~225521~~163379% 60 Days 0.~~118483~~305914% 0.000000% 0.000000% 0.000000% 0.~~118483~~305914% 0.~~108448~~279237% 0.000000% 0.000000% 0.000000% 0.~~108448~~279237% 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.~~423155~~526852% 0.~~084631~~000000% 0.000000% 0.000000% 0.~~507786~~526852% 0.~~333969~~442616% 0.~~052501~~000000% 0.000000% 0.000000% 0.~~386470~~442616%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~7,395~~0.8300

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 10.~~325041~~316630% Weighted Average Net Coupon 89.~~827170~~817043% Weighted Average Pass-Through Rate 8.~~812670~~804679% Weighted Average Maturity(Stepdown Calculation ) ~~224~~223 Beginning Scheduled Collateral Loan Count 5,~~930~~908 Number Of Loans Paid In Full 2224 Ending Scheduled Collateral Loan Count 5,~~908~~884 Beginning Scheduled Collateral Balance ~~258~~257,~~934~~600,~~415~~266.4798 Ending Scheduled Collateral Balance ~~257~~256,~~600~~017,~~266~~344.9897 Ending Actual Collateral Balance at 3130-~~May~~Jun-2003 ~~257~~256,~~600~~017,~~266~~344.9897 Monthly P &I Constant 2,~~348~~336,~~893~~674.6918 Special Servicing Fee 0.00 Prepayment Penalties 2327,~~794~~385.7100 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~257~~256,~~600~~017,~~266~~344.9897 Scheduled Principal ~~120~~122,~~969~~035.9635 Unscheduled Principal 1,~~213~~460,~~178~~886.5366

Miscellaneous Reporting Credit Enhancement Percetage 021.~~261314~~37% Extra Principal Distribution 0.00 Overcollateralization Amount 647,336.04 Overcollateralization Deficiency Amount 0.00 Overcollateralization Increase Amount 0.00 Overcollateralization Reduction Amount ~~979~~0.4300 Overcollateralization Target Amount 647,336.04 Specified Overcollateralization Amount 647,336.04 Step Down NO Trigger Event NO Undrawn Pool Insurance Policy Balance 25,838,369.00 ~~Extra Principal Distribution 0.00~~ Excess Cash 1,~~009~~886,~~692~~394.3855

Filing Compare · FIRST FRANKLIN MORTGAGE LOAN TRUST 2003-FFB