8-K 1 ffm03ff3.txt AUGUST 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): August 25, 2003 FIRST FRANKLIN MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-FF3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-102489-17 Pooling and Servicing Agreement) (Commission 54-2121758 (State or other File Number) 54-2121759 jurisdiction 54-2121760 of Incorporation) 54-2121761 IRS EIN 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 August 25, 2003 a distribution was made to holders of FIRST FRANKLIN MORTGAGE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2003-FF3 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-FF3 Trust, relating to the August 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 Mortgage Pass-Through Certificates, Series 2003-FF3 Trust By: Wells Fargo Bank Minnesota, as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/5/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-FF3 Trust, relating to the August 25, 2003 distribution.

~~SECURITIES~~First ~~AND~~Franklin ~~EXCHANGE~~Mortgage ~~COMMISSION~~Loan Trust Mortgage Pass-Through Certificates Record Date: 7/31/03 Distribution Date: 8/25/03 FFM Series: 2003-FF3 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 FFM03FF3R SEN 0.00000% 0.00 0.00 0.00 A-IO 32027NDJ7 SEN 6.00000% 0.00 1,271,880.00 0.00 1-A 32027NDF5 SEN 0.00000% 515,627,000.00 794,924.96 1,584,491.19 2-A1 32027NDG3 SEN 1.22000% 104,765,000.00 110,061.45 104,677.83 2-A2 32027NDH1 SEN 0.00000% 88,776,000.00 142,041.60 0.00 M-1 32027NDK4 MEZ 1.85000% 23,125,000.00 36,839.41 0.00 M-2 32027NDL2 MEZ 2.95000% 17,344,000.00 44,058.58 0.00 M-3 32027NDM0 MEZ 3.35000% 7,708,000.00 22,235.44 0.00 M-4 32027NDN8 MEZ 4.35000% 7,708,000.00 28,872.88 0.00 B 32027NDP3 SUB 4.10000% 3,854,000.00 13,606.76 0.00 X FFM03FF3X SEN 0.00000% 1,928,684.73 1,351,740.12 0.00 P FFM03FF3P SEN 0.00000% 100.00 17,457.43 0.00 Totals 770,835,784.73 3,833,718.63 1,689,169.02

~~Washington~~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 1,271,880.00 D0.C00 1-A 0. ~~20549~~00 514,042,508.81 2,379,416.15 0.00 2-A1 0.00 104,660,322.17 214,739.28 0.00 2-A2 0.00 88,776,000.00 142,041.60 0.00 M-1 0.00 23,125,000.00 36,839.41 0.00 M-2 0.00 17,344,000.00 44,058.58 0.00 M-3 0.00 7,708,000.00 22,235.44 0.00 M-4 0.00 7,708,000.00 28,872.88 0.00 B 0.00 3,854,000.00 13,606.76 0.00 X 0.00 1,928,784.73 1,351,740.12 0.00 P 0.00 100.00 17,457.43 0.00 Totals 0.00 769,146,715.71 5,522,887.65 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

~~FORM~~Principal 8Distribution 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-KIO 0.00 0.00 0.00 0.00 0.00 0.00 1-A 515,627,000.00 515,627,000.00 0.00 1,584,491.19 0.00 0.00 2-A1 104,765,000.00 104,765,000.00 0.00 104,677.83 0.00 0.00 2-A2 88,776,000.00 88,776,000.00 0.00 0.00 0.00 0.00 M-1 23,125,000.00 23,125,000.00 0.00 0.00 0.00 0.00 M-2 17,344,000.00 17,344,000.00 0.00 0.00 0.00 0.00 M-3 7,708,000.00 7,708,000.00 0.00 0.00 0.00 0.00 M-4 7,708,000.00 7,708,000.00 0.00 0.00 0.00 0.00 B 3,854,000.00 3,854,000.00 0.00 0.00 0.00 0.00 X 1,928,684.73 1,928,684.73 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 770,835,784.73 770,835,784.73 0.00 1,689,169.02 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.

~~CURRENT~~Principal ~~REPORT~~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 1-A 1,584,491.19 514,042,508.81 0.99692706 1,584,491.19 2-A1 104,677.83 104,660,322.17 0.99900083 104,677.83 2-A2 0.00 88,776,000.00 1.00000000 0.00 M-1 0.00 23,125,000.00 1.00000000 0.00 M-2 0.00 17,344,000.00 1.00000000 0.00 M-3 0.00 7,708,000.00 1.00000000 0.00 M-4 0.00 7,708,000.00 1.00000000 0.00 B 0.00 3,854,000.00 1.00000000 0.00 X 0.00 1,928,784.73 1.00005185 0.00 P 0.00 100.00 1.00000000 0.00 Totals 1,689,169.02 769,146,715.71 0.99780878 1,689,169.02

~~PURSUANT~~Principal TODistribution ~~SECTION~~Factors 13Statement OROriginal 15Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (d2) OFAmount ~~THE~~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 1-A 515,627,000.00 1000.00000000 0.00000000 3.07294069 0.00000000 2-A1 104,765,000.00 1000.00000000 0.00000000 0.99916795 0.00000000 2-A2 88,776,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 23,125,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 17,344,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 7,708,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 7,708,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 3,854,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 1,928,684.73 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 All classes are per $1,000 denomination.

~~SECURITIES~~Principal ~~AND~~Distribution ~~EXCHANGE~~Factors ~~ACT~~Statement OF(continued) ~~1934~~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 1-A 0.00000000 3.07294069 996.92705931 0.99692706 3.07294069 2-A1 0.00000000 0.99916795 999.00083205 0.99900083 0.99916795 2-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 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-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.05184881 1.00005185 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.

~~Date~~Interest ofDistribution ~~Report~~Statement ~~(Date~~Beginning Payment of ~~earliest~~Original ~~event~~Current ~~reported)~~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% 254,376,000.00 1,271,880.00 0.00 0.00 1-A 515,627,000.00 0.00000% 515,627,000.00 794,924.96 0.00 0.00 2-A1 104,765,000.00 1.22000% 104,765,000.00 110,061.45 0.00 0.00 2-A2 88,776,000.00 0.00000% 88,776,000.00 142,041.60 0.00 0.00 M-1 23,125,000.00 1.85000% 23,125,000.00 36,839.41 0.00 0.00 M-2 17,344,000.00 2.95000% 17,344,000.00 44,058.58 0.00 0.00 M-3 7,708,000.00 3.35000% 7,708,000.00 22,235.44 0.00 0.00 M-4 7,708,000.00 4.35000% 7,708,000.00 28,872.88 0.00 0.00 B 3,854,000.00 4.10000% 3,854,000.00 13,606.76 0.00 0.00 X 1,928,684.73 0.00000% 1,928,684.73 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 770,835,784.73 2,464,521.08 0.00 0.00

~~July~~Interest 30Distribution 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 0.00 0.00 1,271,880.00 ~~2003~~0.00 254,376,000.00 1-A 0.00 0.00 794,924.96 0.00 514,042,508.81 2-A1 0.00 0.00 110,061.45 0.00 104,660,322.17 2-A2 0.00 0.00 142,041.60 0.00 88,776,000.00 M-1 0.00 0.00 36,839.41 0.00 23,125,000.00 M-2 0.00 0.00 44,058.58 0.00 17,344,000.00 M-3 0.00 0.00 22,235.44 0.00 7,708,000.00 M-4 0.00 0.00 28,872.88 0.00 7,708,000.00 B 0.00 0.00 13,606.76 0.00 3,854,000.00 X 0.00 0.00 1,351,740.12 0.00 1,928,784.73 P 0.00 0.00 17,457.43 0.00 100.00 Totals 0.00 0.00 3,833,718.63 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.

~~STRUCTURED~~Interest ~~ASSET~~Distribution ~~SECURITIES~~Factors ~~CORPORATION~~Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (as5) ~~Depositor~~Amount ~~under~~Rate ~~the~~Balance ~~Trust~~Interest ~~Agreement~~Shortfall ~~dated~~Shortfall asR of0.00 ~~July~~0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 1-A 515,627,000.00 ~~2003~~0.00000% 1000.00000000 1.54166667 0.00000000 0.00000000 2-A1 104,765,000.00 ~~providing~~1.22000% ~~for~~1000.00000000 ~~the~~1.05055553 ~~issuance~~0.00000000 of0.00000000 ~~First~~2-A2 ~~Franklin~~88,776,000.00 ~~Mortgage~~0.00000% ~~Loan~~1000.00000000 ~~Trust~~1.60000000 ~~2003~~0.00000000 0.00000000 M-~~FF3~~1 ~~Mortgage~~23,125,000.00 ~~Pass~~1.85000% 1000.00000000 1.59305557 0.00000000 0.00000000 M-~~Through~~2 ~~Certificates~~17,344,000.00 ~~Series~~2.95000% ~~2003~~1000.00000000 2.54027791 0.00000000 0.00000000 M-~~FF3)~~3 7,708,000.00 3.35000% 1000.00000000 2.88472237 0.00000000 0.00000000 M-4 7,708,000.00 4.35000% 1000.00000000 3.74583290 0.00000000 0.00000000 B 3,854,000.00 4.10000% 1000.00000000 3.53055527 0.00000000 0.00000000 X 1,928,684.73 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 All classes are per $1,000 denomination.

~~Structured~~Interest ~~Asset~~Distribution ~~Securities~~Factors ~~Corporation~~ 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 0.00000000 5.00000000 0.00000000 1000.00000000 1-A 0.00000000 0.00000000 1.54166667 0.00000000 996.92705931 2-A1 0.00000000 0.00000000 1.05055553 0.00000000 999.00083205 2-A2 0.00000000 0.00000000 1.60000000 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.59305557 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.54027791 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.88472237 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.74583290 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.53055527 0.00000000 1000.00000000 X 0.00000000 0.00000000 700.86110963 0.00000000 1000.05184881 P 0.00000000 0.00000000 174574.30000000 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 6,031,228.40 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (~~Exact~~Servicer ~~Name~~Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 17,457.43 Total Deposits 6,048,685.83 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of ~~Registrant~~Service asFee ~~Specified~~525,798.18 inPayment ~~its~~of ~~Charter~~Interest and Principal 5,522,887.65 Total Withdrawals (Pool Distribution Amount) 6,048,685.83 Ending Balance 0.00

~~Delaware~~PREPAYMENT/CURTAILMENT ~~(State~~INTEREST orSHORTFALL ~~Other~~Total ~~Jurisdiction~~Prepayment/Curtailment OfInterest ~~Incorporation)~~Shortfall ~~333-102489~~0.00 ~~(Commission~~Servicing ~~File~~Fee ~~Number)~~Support 740.00 Non-~~2440850~~Supported ~~(I.R.S.~~Prepayment/Curtailment ~~Employer~~Interest ~~Identification~~Shortfall No0.)00

~~745~~SERVICING ~~7th~~FEES ~~Avenue~~Gross Servicing Fee 321,181.59 ~~7th~~Credit ~~Floor~~Risk ~~New~~Manager's ~~York~~Fee 9,635.45 ~~New~~PMI ~~York~~Premiums ~~(Address~~189,713.78 ofTrustee ~~Principal~~Fee ~~Executive~~5,267.36 ~~Offices)~~Supported ~~10019~~Prepayment/Curtailment ~~(Zip~~Interest ~~Code)~~Shortfall 0.00 Net Servicing Fee 525,798.18

~~Registrant’s~~OTHER ~~telephone~~ACCOUNTS ~~number,~~Beginning ~~including~~Current ~~area~~Current ~~code: (212)~~Ending ~~526-7000~~Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 1,000.00 0.00 0.00 1,000.00

~~None~~ 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 6 0 0 0 6 1,747,238.39 0.00 0.00 0.00 1,747,238.39 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 6 0 0 0 6 1,747,238.39 0.00 0.00 0.00 1,747,238.39 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 0.140548% 0.000000% 0.000000% 0.000000% 0.140548% 0.227074% 0.000000% 0.000000% 0.000000% 0.227074% 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 0.140548% 0.000000% 0.000000% 0.000000% 0.140548% 0.227074% 0.000000% 0.000000% 0.000000% 0.227074%

Delinquency Status By Groups

~~(Former~~DELINQUENT ~~Name~~BANKRUPTCY orFORECLOSURE ~~Former~~REO ~~Address~~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 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% 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 5 0 0 0 5 988,438.39 if0.00 ~~Changed~~0.00 ~~Since~~0.00 ~~Last~~988,438.39 ~~Report)~~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 5 0 0 0 5 988,438.39 0.00 0.00 0.00 988,438.39 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.144383% 0.000000% 0.000000% 0.000000% 0.144383% 0.185079% 0.000000% 0.000000% 0.000000% 0.185079% 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 0.144383% 0.000000% 0.000000% 0.000000% 0.144383% 0.185079% 0.000000% 0.000000% 0.000000% 0.185079% 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 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% 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 1 0 0 0 1 758,800.00 0.00 0.00 0.00 758,800.00 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 1 0 0 0 1 758,800.00 0.00 0.00 0.00 758,800.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.186567% 0.000000% 0.000000% 0.000000% 0.186567% 0.398360% 0.000000% 0.000000% 0.000000% 0.398360% 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 0.186567% 0.000000% 0.000000% 0.000000% 0.186567% 0.398360% 0.000000% 0.000000% 0.000000% 0.398360%

~~Item~~OTHER 5INFORMATION Current Period Class A Insufficient Funds 0. ~~Other~~00 ~~Events~~Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00

~~The~~COLLATERAL ~~Registrant~~STATEMENT ~~registered~~Collateral ~~the~~Description ~~issuance~~Mixed ofFixed ~~First~~& ~~Franklin~~Arm ~~Mortgage~~Weighted ~~Loan~~Average ~~Trust~~Gross ~~Mortgage~~Coupon ~~Pass-Through~~6.759665% ~~Certificates~~Weighted ~~Series~~Average ~~2003-FF3~~Net onCoupon a6.259665% ~~delayed~~Weighted orAverage ~~continuous~~Pass-Through ~~basis~~Rate ~~pursuant~~5.956128% toWeighted ~~Rule~~Average ~~415~~Maturity(Stepdown ~~under~~Calculation ~~the~~) ~~Securities~~356 ~~Act~~Beginning ofScheduled ~~1933,~~Collateral asLoan ~~amended~~Count ~~(the “Act”)~~4,277 byNumber aOf ~~Registration~~Loans ~~Statement~~Paid onIn ~~Form~~Full ~~S-3~~8 ~~(Registration~~Ending ~~File~~Scheduled ~~No.~~Collateral ~~333-92140)~~Loan ~~(the~~Count ~~“Registration~~4,269 ~~Statement”). Pursuant~~Beginning toScheduled ~~the~~Collateral ~~Registration~~Balance ~~Statement~~770,835,784.73 ~~the~~Ending ~~Registrant~~Scheduled ~~issued~~Collateral ~~$768~~Balance 769,~~907~~146,~~000~~715.71 ~~aggregate~~Ending ~~principal~~Actual ~~amount~~Collateral ofBalance ~~Class~~at 131-~~A, 2~~Jul-~~A1,~~2003 ~~2-A2~~769, ~~A-IO~~457,998.21 ~~M1,~~Monthly ~~M2,~~P ~~M3,~~&I M4Constant ~~and B Certificates of its First Franklin Mortgage Loan Trust Mortgage Pass-Through Certificates~~4, ~~Series 2003-FF3 on July 30~~726, ~~2003~~983. ~~This~~95 ~~Current~~Special ~~Report~~Servicing onFee ~~Form~~0.00 ~~8-K~~Prepayment isPenalties ~~being filed to satisfy an undertaking~~17,457.43 ~~contained~~Realized inLoss ~~the~~Amount ~~definitive~~0.00 ~~Prospectus~~Cumulative ~~dated~~Realized ~~March~~Loss ~~20,~~0.00 ~~2003,~~Ending asScheduled ~~supplemented~~Balance byfor ~~the~~Premium ~~Prospectus~~Loans ~~Supplement dated July 25~~769, ~~2003 (the “Prospectus Supplement”)~~146,715.71 toScheduled ~~file~~Principal ~~a copy of the Trust Agreement (as defined below) and other material operative agreements executed in connection with the issuance of the Certificates~~384,824.14 aUnscheduled ~~form~~Principal ~~of which was filed as an exhibit to the Registration Statement~~1,304,244.86

~~The~~Miscellaneous ~~Certificates~~Reporting ~~were~~Credit ~~issued~~Enhancement ~~pursuant~~Percentage to0.080001% aDividend ~~Trust~~Account ~~Agreement~~Deposit ~~(the~~0.00 ~~“Trust~~Dividend ~~Agreement”),~~Account ~~attached~~Withdrawal ~~hereto as Exhibit 4~~0.1,00 ~~dated~~Overcollateralization asAmount ~~of July~~ 1, ~~2003~~928,784.73 ~~among~~Overcollateralized ~~Structured~~Increase ~~Asset~~Amount ~~Securities Corporation, as depositor, Aurora Loan Services Inc~~100.,00 asOvercollateralized ~~Master~~Reduction ~~Servicer,~~Amount ~~The Murrayhill Company, as Credit Risk Manager, and Wells Fargo Bank Minnesota, National Association, as Trustee~~0. ~~The~~00 ~~“Certificates”~~Specified ~~consist~~Overcollateralized ofAmount ~~the following classes: Class~~ 1-A, ~~Class 2-A1~~928,784.73 ~~Class~~Overcollateralized ~~2-A2,~~Deficiency ~~Class~~Amount ~~A-IO,~~0.00 ~~Class~~Step ~~M1,~~Down ~~Class~~NO ~~M2,~~Trigger ~~Class~~Event ~~M3,~~NO ~~Class~~Cap ~~M4,~~Amount ~~Class B, Class P, Class X and Class R~~0. ~~The~~00 ~~Certificates~~Extra ~~evidence~~Principal ~~all~~Amount of the beneficial ownership interest in a trust fund (the “Trust Fund”) that consists primarily of two pools of certain conventional, first lien, adjustable and fixed rate, fully amortizing and balloon, residential mortgage loans, with an aggregate outstanding principal balance of $770,835,784100.7300 asExcess ofCash ~~July~~ 1, ~~2003~~351, ~~together with certain other assets~~840. ~~Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Trust Agreement.~~12

~~Item~~Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 8.031443 6.795089 7. ~~Financial~~169188 ~~Statements;~~Weighted ~~Pro~~Average ~~Forma~~Net ~~Financial~~Rate ~~Information~~7.531443 ~~and~~6.295089 ~~Exhibits~~6.669188 Weighted Average Maturity 356 356 357 Beginning Loan Count 218 3,470 53 Loans Paid In Full 1 7 0 Ending Loan Count 217 3,463 53 Beginning Scheduled Balance 25,366,028.21 535,099,058.70 19,869,022.09 Ending scheduled Balance 25,036,141.65 533,844,547.87 19,846,064.50 Record Date 07/31/2003 07/31/2003 07/31/2003 Principal And Interest Constant 193,396.38 3,302,778.45 135,255.46 Scheduled Principal 23,624.88 272,740.24 16,551.49 Unscheduled Principal 306,261.68 981,770.57 6,406.10 Scheduled Interest 169,771.50 3,030,038.21 118,703.97 Servicing Fees 10,569.18 222,957.95 8,278.76 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 173.33 3,656.50 135.77 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 15,714.35 139,172.29 6,727.56 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 143,314.64 2,664,251.47 103,561.88 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 6.779839 5.974785 6.254674

~~(a)~~Group Level Collateral Statement Group Group 4 Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.448108 6.759665 Weighted Average Net Rate 5.948108 6.259665 Weighted Average Maturity 357 356 Beginning Loan Count 536 4,277 Loans Paid In Full 0 8 Ending Loan Count 536 4,269 Beginning Scheduled Balance 190,501,675.73 770,835,784.73 Ending scheduled Balance 190,419,961.69 769,146,715.71 Record Date 07/31/2003 07/31/2003 Principal And Interest Constant 1,095,553.66 4,726,983.95 Scheduled Principal 71,907.53 384,824.14 Unscheduled Principal 9,806.51 1,304,244.86 Scheduled Interest 1,023,646.13 4,342,159.81 Servicing Fees 79,375.70 321,181.59 Master Servicing Fees 0.00 0.00 Trustee Fee 1,301.76 5,267.36 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 28,099.58 189,713.78 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 914,869.09 3,825,997.08 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 5.762904 5.956128

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

1.1

Terms Agreement dated July 25, 2003, between Structured Asset Securities Corporation, as Depositor, and Lehman Brothers Inc., as Representative of the Underwriters.

4.1

Trust Agreement dated as of July 1, 2003, among Structured Asset Securities Corporation, as Depositor, Aurora Loan Services Inc., as Master Servicer, The Murrayhill Company, as Credit Risk Manager, and Wells Fargo Bank Minnesota, National Association, as Trustee.

99.1

Mortgage Loan Sale and Assignment Agreement dated as of July 1, 2003, between Lehman Brothers Holdings Inc., as Seller, and Structured Asset Securities Corporation, as Purchaser.

99.2

Servicing Agreement dated as of July 1, 2003, by and among Lehman Brothers Holdings Inc., as Seller, Aurora Loan Services Inc., as Master Servicer, and Ocwen Federal Bank FSB, as Servicer.

99.3

Republic Mortgage Insurance Company Mortgage Guaranty Master Policy (No. 27600-04) and related endorsements.

SIGNATURES

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.

STRUCTURED ASSET SECURITIES

CORPORATION

By: /s/Ellen V. Kiernan

Name: Ellen V. Kiernan

Title: Senior Vice President

Dated: July 30, 2003

EXHIBIT INDEX

Exhibit No.

Description

Page No.

1.1

Filing Compare · STRUCTURED ASSET SEC CORP MORT PASS THR CERTS SER 2003 FF3