8-K 1 mam03001_aug.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 MASTR ADJUSTABLE RATE MORTGAGES TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-101254-02 06-1682967 Pooling and Servicing Agreement) (Commission 06-1682975 (State or other File Number) Pending 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 August 25, 2003 a distribution was made to holders of MASTR ADJUSTABLE RATE MORTGAGES TRUST, 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 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. MASTR ADJUSTABLE RATE MORTGAGES TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust By: Wells Fargo Bank Minnesota, N.A., as Master Servicer By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/4/03 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 August 25, 2003 distribution. EX-99.1

Mortgage Asset Securitization Transactions, Inc Mortgage Pass-Through Certificates Record Date: 67/3031/03 Distribution Date: 78/25/03 MARM 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 1-A1 576433CH7 SEN 4.15000% 109,~~236~~411,~~538~~603.6530 3432,~~935~~404.7051 ~~824~~1,~~935~~212,903.3609 1-AIO 576433CJ3 IO 1.~~41528~~42128% 0.00 11,~~914~~097.1882 0.00 2-A1 576433DA1 SEN 4.65000% 3431,~~023~~489,~~126~~022.91 ~~130~~121,~~105~~480.4129 24,~~534~~703,~~104~~940.0008 2-A2 576433DC7 SEN 4.65000% 4541,~~057~~701,~~317~~366.3388 ~~172~~160,~~300~~878.4710 36,~~355~~229,~~950~~495.4564 2-A3 576433DD5 SEN 4.65000% 1,~~577~~459,~~006~~547.1184 65,~~030~~630.5273 ~~117~~218,~~458~~032.2735 2-AIO 576433CK0 IO 0.~~29270~~28144% 0.00 1917,~~415~~430.1060 0.00 3-A1 576433CL8 SEN 4.95000% 2117,~~635~~532,~~016~~456.2796 8872,~~070~~001.5352 42,~~102~~434,~~559~~435.3146 3-AIO 576433CM6 IO 0.~~65443~~66022% 0.00 119,~~643~~603.6544 0.00 AR 576433CN4 SEN 5.~~64087~~62741% 0.00 0.00 0.00 B-1 576433CQ7 SUB 5.~~11358~~10689% 2,~~599~~596,~~363~~369.5302 1011,~~931~~000.0160 2,~~994~~995.5059 B-2 576433CR5 SUB 5.~~11358~~10689% ~~892~~891,~~971~~943.8615 3,~~755~~779.1809 1,~~028~~029.7209 B-3 576433CS3 SUB 5.~~11358~~10689% 730,~~884~~042.5455 3,~~073~~093.5613 ~~841~~842.9930 B-4 576433CW4 SUB 5.~~11358~~10689% ~~325~~324,~~169~~794.0444 1,~~367~~376.4213 374.6074 B-5 576433CX2 SUB 5.~~11358~~10689% 243,~~628~~347.1852 1,~~024~~031.5204 280.6677 B-6 576433CY0 SUB 5.~~11358~~10689% ~~325~~324,~~179~~805.7918 1,~~367~~376.4717 374.6174 4-A1 576433CT1 SEN 1.~~53500~~60000% 7268,~~776~~329,~~961~~117.8122 9394,~~093~~142.8633 45,~~447~~938,~~844~~510.5927 4-M1 576433CU8 SUB 2.~~53500~~60000% 2,999,138.00 6,~~335~~714.6874 0.00 4-M2 576433DB9 SUB 3.~~53500~~60000% 2,537,732.00 7,~~475~~866.7497 0.00 4-B 576433CV6 SUB 5.~~03500~~10000% 1,845,623.00 78,~~743~~105.9336 0.00 4-X 576433CZ7 SUB 0.00000% 922,811.62 ~~332~~305,~~826~~457.7782 0.00 ALRA 576433CP9 SEQ 0.00000% 0.00 0.00 0.00 AMR MAM031AMR SEQ 0.00000% 0.00 0.00 0.00 ALRB MAM03ALRB SEQ 0.00000% 0.00 0.00 0.00 AUR MAM031AUR SEQ 0.00000% 0.00 0.00 0.00 Totals ~~198~~183,~~728~~339,~~468~~721.6459 ~~943~~874,~~410~~470.7039 1520,~~388~~743,~~747~~214.0612

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A1 0.00 98,~~411~~198,~~603~~700.3020 ~~859~~1,~~871~~245,307.0660 0.00 1-AIO 0.00 0.00 11,~~914~~097.1882 0.00 2-A1 0.00 3126,~~489~~785,~~022~~082.9184 24,~~664~~825,~~209~~420.4137 0.00 2-A2 0.00 4135,~~701~~471,~~366~~871.8824 36,~~528~~390,~~250~~373.9274 0.00 2-A3 0.00 1,~~459~~241,~~547~~515.8449 ~~123~~223,~~488~~663.7908 0.00 2-AIO 0.00 0.00 1917,~~415~~430.1060 0.00 3-A1 0.00 1715,~~532~~098,~~456~~021.9649 42,~~190~~506,~~629~~436.8498 0.00 3-AIO 0.00 0.00 119,~~643~~603.6544 0.00 AR 0.00 0.00 0.00 0.00 B-1 0.00 2,~~596~~593,~~369~~373.0243 13,~~925~~996.5119 0.00 B-2 0.00 ~~891~~890,~~943~~914.1506 4,~~783~~808.9018 0.00 B-3 0.00 ~~730~~729,~~042~~200.5526 3,~~915~~935.5543 0.00 B-4 0.00 324,~~794~~419.4471 1,~~742~~750.0287 0.00 B-5 0.00 243,~~347~~066.5275 1,~~305~~311.1881 0.00 B-6 0.00 324,~~805~~430.1843 1,~~742~~750.0891 4.04 4-A1 0.00 6862,~~329~~390,~~117~~606.2295 46,~~540~~032,~~938~~652.4560 0.00 4-M1 0.00 2,999,138.00 6,~~335~~714.6874 0.00 4-M2 0.00 2,537,732.00 7,~~475~~866.7497 0.00 4-B 0.00 1,845,623.00 78,~~743~~105.9336 0.00 4-X 0.00 922,811.62 ~~332~~305,~~826~~457.7782 0.00 ALRA 0.00 0.00 0.00 0.00 AMR 0.00 0.00 0.00 0.00 ALRB 0.00 0.00 0.00 0.00 AUR 0.00 0.00 0.00 0.00 Totals 0.00 ~~183~~162,~~339~~596,~~721~~507.5947 1621,~~332~~617,~~157~~684.7651 4.04 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) 1-A1 17,554,000.00 109,~~236~~411,~~538~~603.6530 1110,~~353~~450.7731 ~~813~~1,~~581~~202,452.5978 0.00 0.00 1-AIO 0.00 0.00 0.00 0.00 0.00 0.00 2-A1 49,082,000.00 3431,~~023~~489,~~126~~022.91 4138,~~160~~184.6230 24,~~492~~665,~~943~~755.3877 0.00 0.00 2-A2 65,000,000.00 4541,~~057~~701,~~317~~366.3388 5450,~~509~~568.6002 36,~~301~~178,~~440~~927.8462 0.00 0.00 2-A3 2,275,000.00 1,~~577~~459,~~006~~547.1184 1,~~907~~769.8488 ~~115~~216,~~550~~262.4347 0.00 0.00 2-AIO 0.00 0.00 0.00 0.00 0.00 0.00 3-A1 24,294,000.00 2117,~~635~~532,~~016~~456.2796 1915,~~618~~845.2832 42,~~082~~418,~~941~~590.0314 0.00 0.00 AR 100.00 0.00 0.00 0.00 0.00 0.00 B-1 2,614,000.00 2,~~599~~596,~~363~~369.5302 2,~~994~~995.5059 0.00 0.00 0.00 B-2 898,000.00 ~~892~~891,~~971~~943.8615 1,~~028~~029.7209 0.00 0.00 0.00 B-3 735,000.00 730,~~884~~042.5455 ~~841~~842.9930 0.00 0.00 0.00 B-4 327,000.00 ~~325~~324,~~169~~794.0444 374.6074 0.00 0.00 0.00 B-5 245,000.00 243,~~628~~347.1852 280.6677 0.00 0.00 0.00 B-6 327,010.81 ~~325~~324,~~179~~805.7918 374.6174 0.00 0.00 0.00 4-A1 83,975,857.00 7268,~~776~~329,~~961~~117.8122 0.00 45,~~447~~938,~~844~~510.5927 0.00 0.00 4-M1 2,999,138.00 2,999,138.00 0.00 0.00 0.00 0.00 4-M2 2,537,732.00 2,537,732.00 0.00 0.00 0.00 0.00 4-B 1,845,623.00 1,845,623.00 0.00 0.00 0.00 0.00 4-X 922,811.93 922,811.62 0.00 0.00 0.00 0.00 ALRA 0.00 0.00 0.00 0.00 0.00 0.00 AMR 0.00 0.00 0.00 0.00 0.00 0.00 ALRB 0.00 0.00 0.00 0.00 0.00 0.00 AUR 0.00 0.00 0.00 0.00 0.00 0.00 Totals 255,632,272.74 ~~198~~183,~~728~~339,~~468~~721.6459 ~~134~~122,~~445~~715.1906 1520,~~254~~620,~~301~~499.8605 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 1-A1 ~~824~~1,~~935~~212,903.3609 98,~~411~~198,~~603~~700.3020 0.~~53615149~~46705595 ~~824~~1,~~935~~212,903.3609 1-AIO 0.00 0.00 0.00000000 0.00 2-A1 24,~~534~~703,~~104~~940.0008 3126,~~489~~785,~~022~~082.9184 0.~~64155949~~54572110 24,~~534~~703,~~104~~940.0008 2-A2 36,~~355~~229,~~950~~495.4564 4135,~~701~~471,~~366~~871.8824 0.~~64155949~~54572110 36,~~355~~229,~~950~~495.4564 2-A3 ~~117~~218,~~458~~032.2735 1,~~459~~241,~~547~~515.8449 0.~~64155949~~54572109 ~~117~~218,~~458~~032.2735 2-AIO 0.00 0.00 0.00000000 0.00 3-A1 42,~~102~~434,~~559~~435.3146 1715,~~532~~098,~~456~~021.9649 0.~~72167848~~62147121 42,~~102~~434,~~559~~435.3146 AR 0.00 0.00 0.00000000 0.00 B-1 2,~~994~~995.5059 2,~~596~~593,~~369~~373.0243 0.~~99325517~~99210919 2,~~994~~995.5059 B-2 1,~~028~~029.7209 ~~891~~890,~~943~~914.1506 0.~~99325518~~99210920 1,~~028~~029.7209 B-3 ~~841~~842.9930 ~~730~~729,~~042~~200.5526 0.~~99325517~~99210920 ~~841~~842.9930 B-4 374.6074 324,~~794~~419.4471 0.~~99325517~~99210920 374.6074 B-5 280.6677 243,~~347~~066.5275 0.~~99325518~~99210918 280.6677 B-6 374.6174 324,~~805~~430.1843 0.~~99325518~~99210919 374.6174 4-A1 45,~~447~~938,~~844~~510.5927 6862,~~329~~390,~~117~~606.2295 0.~~81367574~~74295886 45,~~447~~938,~~844~~510.5927 4-M1 0.00 2,999,138.00 1.00000000 0.00 4-M2 0.00 2,537,732.00 1.00000000 0.00 4-B 0.00 1,845,623.00 1.00000000 0.00 4-X 0.00 922,811.62 0.99999966 0.00 ALRA 0.00 0.00 0.00000000 0.00 AMR 0.00 0.00 0.00000000 0.00 ALRB 0.00 0.00 0.00000000 0.00 AUR 0.00 0.00 0.00000000 0.00 Totals 1520,~~388~~743,~~747~~214.0612 ~~183~~162,~~339~~596,~~721~~507.5947 0.~~71720100~~63605626 1520,~~388~~743,~~747~~214.0612

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A1 17,554,000.00 ~~583~~536.~~14564487~~15149254 0.~~64679104~~59532357 4668.~~34736185~~50021534 0.00000000 1-AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 2-A1 49,082,000.00 ~~693~~641.~~18949737~~55949044 0.~~83860927~~77796952 5095.~~79139766~~06042480 0.00000000 2-A2 65,000,000.00 ~~693~~641.~~18949738~~55949046 0.~~83860923~~77796954 5095.~~79139754~~06042492 0.00000000 2-A3 2,275,000.00 ~~693~~641.~~18949890~~55949011 0.~~83861099~~77796923 5095.~~79139780~~06042637 0.00000000 2-AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 3-A1 24,294,000.00 ~~890~~721.~~54977649~~67847864 0.~~80753602~~65223183 ~~168~~99.~~06376183~~55503993 0.00000000 3-AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 AR 100.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,614,000.00 ~~994~~993.~~40073833~~25517215 1.~~14556236~~14597934 0.00000000 0.00000000 B-2 898,000.00 ~~994~~993.~~40073497~~25517817 1.~~14556793~~14597996 0.00000000 0.00000000 B-3 735,000.00 ~~994~~993.~~40073469~~25517007 1.~~14556463~~14598639 0.00000000 0.00000000 B-4 327,000.00 ~~994~~993.~~40073394~~25516820 1.~~14556575~~14599388 0.00000000 0.00000000 B-5 245,000.00 ~~994~~993.~~40073469~~25518367 1.~~14555102~~14600000 0.00000000 0.00000000 B-6 327,010.81 ~~994~~993.~~40073556~~25517710 1.~~14555846~~14595600 0.00000000 0.00000000 4-A1 83,975,857.00 ~~866~~813.~~64148971~~67573563 0.00000000 5270.~~96575407~~71687604 0.00000000 4-M1 2,999,138.00 1000.00000000 0.00000000 0.00000000 0.00000000 4-M2 2,537,732.00 1000.00000000 0.00000000 0.00000000 0.00000000 4-B 1,845,623.00 1000.00000000 0.00000000 0.00000000 0.00000000 4-X 922,811.93 999.99966407 0.00000000 0.00000000 0.00000000 ALRA 0.00 0.00000000 0.00000000 0.00000000 0.00000000 AMR 0.00 0.00000000 0.00000000 0.00000000 0.00000000 ALRB 0.00 0.00000000 0.00000000 0.00000000 0.00000000 AUR 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 1-A1 0.00000000 4669.~~99415290~~09553891 ~~536~~467.~~15149254~~05595306 0.~~53615149~~46705595 4669.~~99415290~~09553891 1-AIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-A1 0.00000000 5195.~~63000693~~83839452 ~~641~~545.~~55949044~~72109612 0.~~64155949~~54572110 5195.~~63000693~~83839452 2-A2 0.00000000 5195.~~63000692~~83839446 ~~641~~545.~~55949046~~72109600 0.~~64155949~~54572110 5195.~~63000692~~83839446 2-A3 0.00000000 5195.~~63000879~~83839560 ~~641~~545.~~55949011~~72109451 0.~~64155949~~54572109 5195.~~63000879~~83839560 2-AIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3-A1 0.00000000 ~~168~~100.~~87129785~~20727175 ~~721~~621.~~67847864~~47120647 0.~~72167848~~62147121 ~~168~~100.~~87129785~~20727175 3-AIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1.~~14556236~~14597934 ~~993~~992.~~25517215~~10919281 0.~~99325517~~99210919 1.~~14556236~~14597934 B-2 0.00000000 1.~~14556793~~14597996 ~~993~~992.~~25517817~~10919822 0.~~99325518~~99210920 1.~~14556793~~14597996 B-3 0.00000000 1.~~14556463~~14598639 ~~993~~992.~~25517007~~10919728 0.~~99325517~~99210920 1.~~14556463~~14598639 B-4 0.00000000 1.~~14556575~~14599388 ~~993~~992.~~25516820~~10920489 0.~~99325517~~99210920 1.~~14556575~~14599388 B-5 0.00000000 1.~~14555102~~14600000 ~~993~~992.~~25518367~~10918367 0.~~99325518~~99210918 1.~~14555102~~14600000 B-6 0.00000000 1.~~14555846~~14595600 ~~993~~992.~~25517710~~10919052 0.~~99325518~~99210919 1.~~14555846~~14595600 4-A1 0.00000000 5270.~~96575407~~71687604 ~~813~~742.~~67573563~~95885959 0.~~81367574~~74295886 5270.~~96575407~~71687604 4-M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 4-M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 4-B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 4-X 0.00000000 0.00000000 999.99966407 0.99999966 0.00000000 ALRA 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AMR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 ALRB 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AUR 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 1-A1 17,554,000.00 4.15000% 109,~~236~~411,~~538~~603.6530 3532,~~401~~548.3646 0.00 0.00 1-AIO 0.00 1.~~41528~~42128% 109,~~236~~411,~~538~~603.6530 1211,~~072~~147.9911 0.00 0.00 2-A1 49,082,000.00 4.65000% 3431,~~023~~489,~~126~~022.91 ~~131~~122,~~839~~019.6296 0.00 0.00 2-A2 65,000,000.00 4.65000% 4541,~~057~~701,~~317~~366.3388 ~~174~~161,~~597~~592.1080 0.00 0.00 2-A3 2,275,000.00 4.65000% 1,~~577~~459,~~006~~547.1184 65,~~110~~655.9075 0.00 0.00 2-AIO 0.00 0.~~29270~~28144% 8074,~~657~~649,~~450~~937.3564 1917,~~673~~508.8305 0.00 0.00 3-A1 24,294,000.00 4.95000% 2117,~~635~~532,~~016~~456.2796 8972,~~244~~321.4438 0.00 0.00 3-AIO 0.00 0.~~65443~~66022% 2117,~~635~~532,~~016~~456.2796 119,~~798~~646.8513 0.00 0.00 AR 100.00 5.~~64087~~62741% 0.00 0.00 0.00 0.00 B-1 2,614,000.00 5.~~11358~~10689% 2,~~599~~596,~~363~~369.5302 11,~~076~~049.7147 0.00 0.00 B-2 898,000.00 5.~~11358~~10689% ~~892~~891,~~971~~943.8615 3,~~805~~795.2388 0.00 0.00 B-3 735,000.00 5.~~11358~~10689% 730,~~884~~042.5455 3,~~114~~106.5387 0.00 0.00 B-4 327,000.00 5.~~11358~~10689% ~~325~~324,~~169~~794.0444 1,~~385~~382.6524 0.00 0.00 B-5 245,000.00 5.~~11358~~10689% 243,~~628~~347.1852 1,~~038~~035.1862 0.00 0.00 B-6 327,010.81 5.~~11358~~10689% ~~325~~324,~~179~~805.7918 1,~~385~~382.6929 0.00 0.00 4-A1 83,975,857.00 1.~~53500~~60000% 7268,~~776~~329,~~961~~117.8122 9394,~~093~~142.8634 0.00 0.00 4-M1 2,999,138.00 2.~~53500~~60000% 2,999,138.00 6,~~335~~714.6874 0.00 0.00 4-M2 2,537,732.00 3.~~53500~~60000% 2,537,732.00 7,~~475~~866.7497 0.00 0.00 4-B 1,845,623.00 5.~~03500~~10000% 1,845,623.00 78,~~743~~105.9336 0.00 0.00 4-X 922,811.93 0.00000% 922,811.62 0.00 0.00 0.00 ALRA 0.00 0.00000% 0.00 0.00 0.00 0.00 AMR 0.00 0.00000% 0.00 0.00 0.00 0.00 ALRB 0.00 0.00000% 0.00 0.00 0.00 0.00 AUR 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 255,632,272.74 ~~617~~571,~~194~~021.2942 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 1-A1 ~~465~~143.6796 0.00 3432,~~935~~404.7051 0.00 98,~~411~~198,~~603~~700.3020 1-AIO ~~158~~49.8130 0.00 11,~~914~~097.1882 0.00 98,~~411~~198,~~603~~700.3020 2-A1 ~~1,734~~539.2167 0.00 ~~130~~121,~~105~~480.4129 0.00 3126,~~489~~785,~~022~~082.9184 2-A2 ~~2,296~~714.6470 0.00 ~~172~~160,~~300~~878.4710 0.00 4135,~~701~~471,~~366~~871.8824 2-A3 8025.3801 0.00 65,~~030~~630.5273 0.00 1,~~459~~241,~~547~~515.8449 2-AIO ~~258~~77.7943 0.00 1917,~~415~~430.1060 0.00 7463,~~649~~498,~~937~~469.6457 3-A1 ~~1,173~~319.9186 0.00 8872,~~070~~001.5352 0.00 1715,~~532~~098,~~456~~021.9649 3-AIO ~~155~~42.2066 0.00 119,~~643~~603.6544 0.00 1715,~~532~~098,~~456~~021.9649 AR 0.00 0.00 0.00 0.00 0.00 B-1 ~~145~~48.7087 0.00 1011,~~931~~000.0160 0.00 2,~~596~~593,~~369~~373.0243 B-2 5016.0579 0.00 3,~~755~~779.1809 0.00 ~~891~~890,~~943~~914.1506 B-3 4013.9774 0.00 3,~~073~~093.5613 0.00 ~~730~~729,~~042~~200.5526 B-4 186.2311 0.00 1,~~367~~376.4213 0.00 324,~~794~~419.4471 B-5 134.6658 0.00 1,~~024~~031.5204 0.00 243,~~347~~066.5275 B-6 186.2311 0.00 1,~~367~~376.4717 0.00 324,~~805~~430.1843 4-A1 0.00 0.00 9394,~~093~~142.8633 0.00 6862,~~329~~390,~~117~~606.2295 4-M1 0.00 0.00 6,~~335~~714.6874 0.00 2,999,138.00 4-M2 0.00 0.00 7,~~475~~866.7497 0.00 2,537,732.00 4-B 0.00 0.00 78,~~743~~105.9336 0.00 1,845,623.00 4-X 0.00 0.00 ~~332~~305,~~826~~457.7782 0.00 922,811.62 ALRA 0.00 0.00 0.00 0.00 0.00 AMR 0.00 0.00 0.00 0.00 0.00 ALRB 0.00 0.00 0.00 0.00 0.00 AUR 0.00 0.00 0.00 0.00 0.00 Totals 62,~~610~~008.4579 0.00 ~~943~~874,~~410~~470.7039 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 1-A1 17,554,000.00 4.15000% ~~583~~536.~~14564487~~15149254 21.~~01671186~~85419050 0.00000000 0.00000000 1-AIO 0.00 1.~~41528~~42128% ~~583~~536.~~14564487~~15149254 0.~~68776290~~63501823 0.00000000 0.00000000 2-A1 49,082,000.00 4.65000% ~~693~~641.~~18949737~~55949044 2.~~68610937~~48604295 0.00000000 0.00000000 2-A2 65,000,000.00 4.65000% ~~693~~641.~~18949738~~55949046 2.~~68610923~~48604308 0.00000000 0.00000000 2-A3 2,275,000.00 4.65000% ~~693~~641.~~18949890~~55949011 2.~~68610989~~48604396 0.00000000 0.00000000 2-AIO 0.00 0.~~29270~~28144% ~~693~~641.~~18949741~~55949053 0.~~16908162~~15046839 0.00000000 0.00000000 3-A1 24,294,000.00 4.95000% ~~890~~721.~~54977649~~67847864 32.~~67351774~~97692352 0.00000000 0.00000000 3-AIO 0.00 0.~~65443~~66022% ~~890~~721.~~54977649~~67847864 0.~~48566930~~39705812 0.00000000 0.00000000 AR 100.00 5.~~64087~~62741% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,614,000.00 5.~~11358~~10689% ~~994~~993.~~40073833~~25517215 4.~~23745601~~22703520 0.00000000 0.00000000 B-2 898,000.00 5.~~11358~~10689% ~~994~~993.~~40073497~~25517817 4.~~23744989~~22703786 0.00000000 0.00000000 B-3 735,000.00 5.~~11358~~10689% ~~994~~993.~~40073469~~25517007 4.~~23745578~~22703401 0.00000000 0.00000000 B-4 327,000.00 5.~~11358~~10689% ~~994~~993.~~40073394~~25516820 4.~~23746177~~22703364 0.00000000 0.00000000 B-5 245,000.00 5.~~11358~~10689% ~~994~~993.~~40073469~~25518367 4.~~23746939~~22702041 0.00000000 0.00000000 B-6 327,010.81 5.~~11358~~10689% ~~994~~993.~~40073556~~25517710 4.~~23744402~~22704681 0.00000000 0.00000000 4-A1 83,975,857.00 1.~~53500~~60000% ~~866~~813.~~64148971~~67573563 1.~~10857886~~12106436 0.00000000 0.00000000 4-M1 2,999,138.00 2.~~53500~~60000% 1000.00000000 2.~~11250033~~23888997 0.00000000 0.00000000 4-M2 2,537,732.00 3.~~53500~~60000% 1000.00000000 23.~~94583510~~10000032 0.00000000 0.00000000 4-B 1,845,623.00 5.~~03500~~10000% 1000.00000000 4.~~19583523~~39166612 0.00000000 0.00000000 4-X 922,811.93 0.00000% 999.99966407 0.00000000 0.00000000 0.00000000 ALRA 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 AMR 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 ALRB 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 AUR 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) 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 1-A1 0.~~02652786~~00820098 0.00000000 1.~~99018457~~84599009 0.00000000 ~~536~~467.~~15149254~~05595306 1-AIO 0.~~00904694~~00280848 0.00000000 0.~~67871596~~63221032 0.00000000 ~~536~~467.~~15149254~~05595306 2-A1 0.~~03533291~~01099527 0.00000000 2.~~65077646~~47504768 0.00000000 ~~641~~545.~~55949044~~72109612 2-A2 0.~~03533292~~01099538 0.00000000 2.~~65077646~~47504769 0.00000000 ~~641~~545.~~55949046~~72109600 2-A3 0.~~03533187~~01099341 0.00000000 2.~~65077802~~47504615 0.00000000 ~~641~~545.~~55949011~~72109451 2-AIO 0.~~00222410~~00066545 0.00000000 0.~~16685803~~14980276 0.00000000 ~~641~~545.~~55949053~~72109602 3-A1 0.~~04832098~~01316621 0.00000000 32.~~62519676~~96375731 0.00000000 ~~721~~621.~~67847864~~47120647 3-AIO 0.~~00638841~~00175599 0.00000000 0.~~47928089~~39530090 0.00000000 ~~721~~621.~~67847864~~47120647 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.~~05573833~~01869549 0.00000000 4.~~18171767~~20833971 0.00000000 ~~993~~992.~~25517215~~10919281 B-2 0.~~05573497~~01869710 0.00000000 4.~~18171492~~20834076 0.00000000 ~~993~~992.~~25517817~~10919822 B-3 0.~~05574150~~01869388 0.00000000 4.~~18171429~~20834014 0.00000000 ~~993~~992.~~25517007~~10919728 B-4 0.~~05574924~~01868502 0.00000000 4.~~18171254~~20834862 0.00000000 ~~993~~992.~~25516820~~10920489 B-5 0.~~05575510~~01869388 0.00000000 4.~~18171429~~20832653 0.00000000 ~~993~~992.~~25518367~~10918367 B-6 0.~~05574739~~01868440 0.00000000 4.~~18172720~~20833183 0.00000000 ~~993~~992.~~25517710~~10919052 4-A1 0.00000000 0.00000000 1.~~10857886~~12106424 0.00000000 ~~813~~742.~~67573563~~95885959 4-M1 0.00000000 0.00000000 2.~~11250033~~23888997 0.00000000 1000.00000000 4-M2 0.00000000 0.00000000 23.~~94583510~~10000032 0.00000000 1000.00000000 4-B 0.00000000 0.00000000 4.~~19583523~~39166612 0.00000000 1000.00000000 4-X 0.00000000 0.00000000 ~~360~~331.~~66587262~~00766263 0.00000000 999.99966407 ALRA 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AMR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 ALRB 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AUR 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 1621,~~391~~608,~~529~~377.5459 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 7565,~~953~~438.0034 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1621,~~467~~673,~~482~~815.5493 Withdrawals Reimbursement for Servicer Advances ~~75,046~~0.5400 Payment of Service Fee 6056,~~278~~131.2442 Payment of Interest and Principal 1621,~~332~~617,~~157~~684.7651 Total Withdrawals (Pool Distribution Amount) 1621,~~467~~673,~~482~~815.5493 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 62,~~610~~008.4579 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 62,~~610~~008.4579

SERVICING FEES Gross Servicing Fee 5854,~~041~~000.9698 LPMI 2,~~236~~130.2844 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 6056,~~278~~131.2442

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 3825 0 0 0 3825 85,~~901~~958,~~789~~189.3110 0.00 0.00 0.00 85,~~901~~958,~~789~~189.3110 60 Days 812 0 0 0 812 23,~~176~~107,~~818~~745.4405 0.00 0.00 0.00 23,~~176~~107,~~818~~745.4405 90 Days 3 0 0 0 3 1827,~~049,570~~317.1239 0.00 0.00 0.00 1827,~~049,570~~317.1239 120 Days 1 0 0 1 0 1 0373,500.00 0.00 ~~114,406~~0.1500 0.00 ~~114~~373,~~406~~500.1500 150 Days 01 0 0 0 01 0212,490.0016 0.00 0.00 0.00 0212,490.0016 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 4942 0 10 0 5042 1210,~~128~~479,~~177~~241.8770 0.00 ~~114,406~~0.1500 0.00 1210,~~242~~479,~~584~~241.0270 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 65.~~959707~~050505% 0.000000% 0.000000% 0.000000% 65.~~959707~~050505% 43.~~851168~~661366% 0.000000% 0.000000% 0.000000% 43.~~851168~~661366% 60 Days 12.~~465201~~424242% 0.000000% 0.000000% 0.000000% 12.~~465201~~424242% 1.~~186291~~909740% 0.000000% 0.000000% 0.000000% 1.~~186291~~909740% 90 Days 0.~~549451~~606061% 0.000000% 0.000000% 0.000000% 0.~~549451~~606061% 0.~~571980~~508395% 0.000000% 0.000000% 0.000000% 0.~~571980~~508395% 120 Days 0.~~000000~~202020% 0.000000% 0.~~183150~~000000% 0.000000% 0.~~183150~~202020% 0.~~000000~~229519% 0.000000% 0.~~062347~~000000% 0.000000% 0.~~062347~~229519% 150 Days 0.~~000000~~202020% 0.000000% 0.000000% 0.000000% 0.~~000000~~202020% 0.~~000000~~130577% 0.000000% 0.000000% 0.000000% 0.~~000000~~130577% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 8.~~974359~~484848% 0.000000% 0.~~183150~~000000% 0.000000% 98.~~157509~~484848% 6.~~609439~~439597% 0.000000% 0.~~062347~~000000% 0.000000% 6.~~671786~~439597%

Delinquency Status By Groups

~~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 01 0 0 0 01 0376,117.0018 0.00 0.00 0.00 0376,117.0018 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 01 0 0 0 01 0376,117.0018 0.00 0.00 0.00 0376,117.0018 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 05.~~000000~~555556% 0.000000% 0.000000% 0.000000% 05.~~000000~~555556% 04.~~000000~~286308% 0.000000% 0.000000% 0.000000% 04.~~000000~~286308% 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 05.~~000000~~555556% 0.000000% 0.000000% 0.000000% 05.~~000000~~555556% 04.~~000000~~286308% 0.000000% 0.000000% 0.000000% 04.~~000000~~286308% 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 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 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 3824 0 0 0 3824 85,~~901~~582,~~789~~071.3192 0.00 0.00 0.00 85,~~901~~582,~~789~~071.3192 60 Days 812 0 0 0 812 23,~~176~~107,~~818~~745.4405 0.00 0.00 0.00 23,~~176~~107,~~818~~745.4405 90 Days 3 0 0 0 3 1827,~~049,570~~317.1239 0.00 0.00 0.00 1827,~~049,570~~317.1239 120 Days 1 0 0 1 0 1 0373,500.00 0.00 ~~114,406~~0.1500 0.00 ~~114~~373,~~406~~500.1500 150 Days 01 0 0 0 01 0212,490.0016 0.00 0.00 0.00 0212,490.0016 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 4941 0 10 0 5041 1210,~~128~~103,~~177~~124.8752 0.00 ~~114,406~~0.1500 0.00 1210,~~242~~103,~~584~~124.0252 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 128.~~418301~~362369% 0.000000% 0.000000% 0.000000% 128.~~418301~~362369% 117.~~607946~~890558% 0.000000% 0.000000% 0.000000% 117.~~607946~~890558% 60 Days 24.~~614379~~181185% 0.000000% 0.000000% 0.000000% 24.~~614379~~181185% 24.~~838574~~392964% 0.000000% 0.000000% 0.000000% 24.~~838574~~392964% 90 Days 01.~~980392~~045296% 0.000000% 0.000000% 0.000000% 01.~~980392~~045296% 1.~~368641~~169458% 0.000000% 0.000000% 0.000000% 1.~~368641~~169458% 120 Days 0.~~000000~~348432% 0.000000% 0.~~326797~~000000% 0.000000% 0.~~326797~~348432% 0.~~000000~~527962% 0.000000% 0.~~149186~~000000% 0.000000% 0.~~149186~~527962% 150 Days 0.~~000000~~348432% 0.000000% 0.000000% 0.000000% 0.~~000000~~348432% 0.~~000000~~300366% 0.000000% 0.000000% 0.000000% 0.~~000000~~300366% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1614.~~013072~~285714% 0.000000% 0.~~326797~~000000% 0.000000% 1614.~~339869~~285714% 1514.~~815161~~281309% 0.000000% 0.~~149186~~000000% 0.000000% 1514.~~964347~~281309%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 7565,~~953~~438.0034

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 150,000.00 0.05867804% 150,000.00 0.~~08181533~~09225290% Fraud 3,267,022.00 1.27801626% 3,267,022.00 12.~~78194991~~00928178% Special Hazard 3,661,499.00 1.43233050% 3,661,499.00 12.~~99711168~~25189277% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~100581~~104500% Weighted Average Pass-Through Rate 5.~~736598~~737107% Weighted Average Maturity(Stepdown Calculation ) ~~350~~349 Beginning Scheduled Collateral Loan Count ~~588~~546 Number Of Loans Paid In Full 4251 Ending Scheduled Collateral Loan Count ~~546~~495 Beginning Scheduled Collateral Balance ~~198~~183,~~728~~339,~~468~~721.6459 Ending Scheduled Collateral Balance ~~183~~162,~~339~~596,~~721~~507.5947 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2003 ~~183~~162,~~497~~731,~~839~~336.8637 Monthly P &I Constant 1,~~194~~102,~~058~~341.1119 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 1521,~~913~~225,~~139~~597.2557 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~183~~162,~~339~~596,~~721~~507.5947 Scheduled Principal ~~183~~169,~~758~~676.7776 Unscheduled Principal 1520,~~204~~573,~~988~~537.2836 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 922,811.62 Overcollateralized Amount 922,811.62 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00

Miscellaneous Reporting Group 1 Senior Percentage 94.~~742561~~313926% Group 2 Senior Percentage 95.~~543462~~207553% Group 3 Senior Percentage 9695.~~490232~~707962% Group 1 Senior Prepayment Percentage 100.000000% Group 2 Senior Prepayment Percentage 100.000000% Group 3 Senior Prepayment Percentage 100.000000% Group 1 Junior Percentage 5.~~257439~~686074% Group 2 Junior Percentage 4.~~456538~~792447% Group 3 Junior Percentage 34.~~509768~~292038%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~940281~~946281 5.~~328083~~319962 5.~~863191~~870938 Weighted Average Net Rate 5.~~565283~~571280 4.~~943148~~931922 5.~~613192~~620937 Weighted Average Maturity ~~342~~341 349 350 ~~351~~ Beginning Loan Count 2220 ~~194~~180 4940 Loans Paid In Full 2 1425 95 Ending Loan Count 2018 ~~180~~155 4035 Beginning Scheduled Balance 109,~~804~~979,~~583~~017.0767 8478,~~419~~407,~~643~~579.5035 2218,~~421~~318,~~975~~702.6473 Ending scheduled Balance 98,~~979~~765,~~017~~484.6754 7867,~~407~~251,~~579~~554.3568 1815,~~318~~883,~~702~~556.7368 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant 6560,~~469~~528.0372 ~~476~~442,~~958~~683.5625 ~~129~~106,~~885~~179.4921 Scheduled Principal 11,~~983~~080.8135 ~~102~~95,~~129~~078.5081 2016,~~331~~555.8891 Unscheduled Principal ~~813~~1,~~581~~202,452.5978 511,~~909~~060,~~934~~945.6586 42,~~082~~418,~~941~~590.0314 Scheduled Interest 5349,~~485~~448.2237 ~~374~~347,~~829~~604.0644 ~~109~~89,~~553~~623.6130 Servicing Fees 3,~~376~~118.4245 2725,~~080~~354.0538 43,~~671~~816.2440 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 31.3835 163.6954 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 5046,~~108~~329.8092 ~~347~~322,~~717~~218.6371 ~~104~~85,~~718~~643.6836 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 5.~~565281~~571281 4.~~942702~~931442 5.~~604431~~610224

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.~~991883~~983624 6.~~100581~~104500 Weighted Average Net Rate 6.~~652757~~643645 5.~~750101~~751051 Weighted Average Maturity ~~350~~349 ~~350~~349 Beginning Loan Count ~~323~~306 ~~588~~546 Loans Paid In Full 1719 4251 Ending Loan Count ~~306~~287 ~~546~~495 Beginning Scheduled Balance 8176,~~082~~634,~~266~~421.4384 ~~198~~183,~~728~~339,~~468~~721.6459 Ending scheduled Balance 7670,~~634~~695,~~421~~911.8457 ~~183~~162,~~339~~596,~~721~~507.5947 Record Date 0607/3031/2003 0607/3031/2003 Principal And Interest Constant ~~521~~492,~~745~~950.0301 1,~~194~~102,~~058~~341.1119 Scheduled Principal 4946,~~313~~961.5869 ~~183~~169,~~758~~676.7776 Unscheduled Principal 45,~~398~~891,~~531~~548.0158 1520,~~204~~573,~~988~~537.2836 Scheduled Interest ~~472~~445,~~431~~988.4532 1932,~~010,299~~664.3443 Servicing Fees 2221,~~914~~711.2575 5854,~~041~~000.9698 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 21,~~041~~935.2155 2,~~236~~130.2844 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 ~~447~~422,~~475~~341.9902 ~~950~~876,~~021~~533.1001 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.~~622548~~613336 5.~~736598~~737107

Filing Compare · MASTER ADJUSTABLE RATE MORTGAGES TRUST 2003-1