8-K 1 abs03he1.txt SEPTEMBER 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): September 15, 2003 ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2003-HE1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-86750-03 Pooling and Servicing Agreement) (Commission 54-2090849 (State or other File Number) 54-2090850 jurisdiction 54-2090851 of Incorporation) 54-2090848 54-2090847 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 September 15, 2003 a distribution was made to holders of ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series 2003-HE1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2003-HE1 Trust, relating to the September 15, 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. ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates, Series 2003-HE1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/22/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certificates, Series 2003-HE1 Trust, relating to the September 15, 2003 distribution.

Asset Backed Securities Corp Home Equity Loan Trust Asset Backed Pass-Through Certificates Record Date: 78/31/03 Distribution Date: 89/15/03 ABSC Series: 2003-HE1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-IO 04541GDJ8 SEN IO 5.00000% 0.00 ~~351~~342,~~642~~083.0833 0.00 B-IO 00077SAB2 SUB IO 3.50000% 0.00 ~~146~~145,~~094~~833.8233 0.00 A1 04541GDE9 SEN 1.~~60688~~61000% ~~192~~185,~~817~~330,~~218~~654.2668 ~~267~~256,~~476~~940.8336 7,~~486~~943,~~563~~954.5831 A2 04541GDF6 SEN 1.~~60688~~61000% ~~126~~121,~~872~~672,~~869~~938.4355 ~~175~~168,~~995~~686.5401 5,~~199~~435,~~930~~842.8784 A3 04541GDG4 SEN 1.~~37688~~38000% ~~155~~145,~~061~~730,~~386~~601.6863 ~~184~~173,~~335~~176.3653 9,~~330~~754,~~785~~106.0581 A4 04541GDH2 SEN 1.~~69688~~70000% 72,600,000.00 106,~~328~~278.2833 0.00 M1 04541GDK5 MEZ 2.~~12688~~13000% 49,700,000.00 91,~~230~~158.2908 0.00 M2 04541GDL3 MEZ 3.~~45688~~46000% 41,200,000.00 122,~~910~~753.4611 0.00 M3 04541GDM1 MEZ 4.~~60688~~61000% 28,800,000.00 114,~~496~~328.9000 0.00 M4 04541GDN9 MEZ 5.~~60688~~61000% 11,242,900.00 54,~~398~~312.5258 0.00 X 00077SAC0 SUB OC 0.00000% 0.01 2,~~660~~558,~~221~~958.6664 0.00 P 00077SAD8 SEN 0.00000% 100.00 ~~509~~521,~~941~~968.1039 0.00 CSFB SEN 0.00000% 0.00 0.00 0.00 Totals ~~678~~656,~~294~~277,~~474~~194.3887 4,~~785~~656,~~071~~476.8469 2223,~~017~~133,~~279~~903.5096

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 ~~351~~342,~~642~~083.0833 0.00 B-IO 0.00 0.00 ~~146~~145,~~094~~833.8233 0.00 A1 0.00 ~~185~~177,~~330~~386,~~654~~700.6838 78,~~754~~200,~~040~~894.4167 0.00 A2 0.00 ~~121~~116,~~672~~237,~~938~~095.5571 5,~~375~~604,~~926~~528.4185 0.00 A3 0.00 ~~145~~135,~~730~~976,~~601~~494.6382 9,~~515~~927,~~120~~283.4134 0.00 A4 0.00 72,600,000.00 106,~~328~~278.2833 0.00 M1 0.00 49,700,000.00 91,~~230~~158.2908 0.00 M2 0.00 41,200,000.00 122,~~910~~753.4611 0.00 M3 0.00 28,800,000.00 114,~~496~~328.9000 0.00 M4 0.00 11,242,900.00 54,~~398~~312.5258 0.00 X 0.00 0.01 2,~~660~~558,~~221~~958.6664 0.00 P 0.00 100.00 ~~509~~521,~~941~~968.1039 0.00 CSFB 0.00 0.00 0.00 0.00 Totals 0.00 ~~656~~633,~~277~~143,~~194~~290.8792 2627,~~802~~790,~~351~~380.3465 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-IO 0.00 0.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 A1 217,500,000.00 ~~192~~185,~~817~~330,~~218~~654.2668 0.00 7,~~486~~943,~~563~~954.5831 0.00 0.00 A2 143,000,000.00 ~~126~~121,~~872~~672,~~869~~938.4355 0.00 5,~~199~~435,~~930~~842.8784 0.00 0.00 A3 184,000,000.00 ~~155~~145,~~061~~730,~~386~~601.6863 0.00 9,~~330~~754,~~785~~106.0581 0.00 0.00 A4 72,600,000.00 72,600,000.00 0.00 0.00 0.00 0.00 M1 49,700,000.00 49,700,000.00 0.00 0.00 0.00 0.00 M2 41,200,000.00 41,200,000.00 0.00 0.00 0.00 0.00 M3 28,800,000.00 28,800,000.00 0.00 0.00 0.00 0.00 M4 11,242,900.00 11,242,900.00 0.00 0.00 0.00 0.00 X 0.00 0.01 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 CSFB 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Totals 748,043,000.00 ~~678~~656,~~294~~277,~~474~~194.3887 0.00 2223,~~017~~133,~~279~~903.5096 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-IO 0.00 0.00 0.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 A1 7,~~486~~943,~~563~~954.5831 ~~185~~177,~~330~~386,~~654~~700.6838 0.~~85209496~~81557104 7,~~486~~943,~~563~~954.5831 A2 5,~~199~~435,~~930~~842.8784 ~~121~~116,~~672~~237,~~938~~095.5571 0.~~85085971~~81284682 5,~~199~~435,~~930~~842.8784 A3 9,~~330~~754,~~785~~106.0581 ~~145~~135,~~730~~976,~~601~~494.6382 0.~~79201414~~73900269 9,~~330~~754,~~785~~106.0581 A4 0.00 72,600,000.00 1.00000000 0.00 M1 0.00 49,700,000.00 1.00000000 0.00 M2 0.00 41,200,000.00 1.00000000 0.00 M3 0.00 28,800,000.00 1.00000000 0.00 M4 0.00 11,242,900.00 1.00000000 0.00 X 0.00 0.01 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 CSFB 0.00 0.00 0.00000000 0.00 CSFB 0.00 0.00 0.00000000 0.00 Totals 2223,~~017~~133,~~279~~903.5096 ~~656~~633,~~277~~143,~~194~~290.8792 0.~~87732549~~84639959 2223,~~017~~133,~~279~~903.5096

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A1 217,500,000.00 ~~886~~852.~~51594602~~09496405 0.00000000 3436.~~42098198~~52392786 0.00000000 A2 143,000,000.00 ~~887~~850.~~22286315~~85971014 0.00000000 3638.~~36315294~~01288699 0.00000000 A3 184,000,000.00 ~~842~~792.~~72492761~~01413929 0.00000000 5053.~~71078832~~01145005 0.00000000 A4 72,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 49,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 41,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 28,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 11,242,900.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 CSFB 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 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 3436.~~42098198~~52392786 ~~852~~815.~~09496405~~57103623 0.~~85209496~~81557104 3436.~~42098198~~52392786 A2 0.00000000 3638.~~36315294~~01288699 ~~850~~812.~~85971014~~84682315 0.~~85085971~~81284682 3638.~~36315294~~01288699 A3 0.00000000 5053.~~71078832~~01145005 ~~792~~739.~~01413929~~00268924 0.~~79201414~~73900269 5053.~~71078832~~01145005 A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CSFB 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-IO 0.00 5.00000% 8482,~~200~~100,000.00 ~~350~~342,~~833~~083.33 ~~808~~0.7500 0.00 B-IO 0.00 3.50000% 50,000,000.00 145,833.33 ~~261~~0.4900 0.00 A1 217,500,000.00 1.~~60688~~61000% ~~192~~185,~~817~~330,~~218~~654.2668 ~~266~~256,~~801~~940.6136 ~~675~~0.2200 0.00 A2 143,000,000.00 1.~~60688~~61000% ~~126~~121,~~872~~672,~~869~~938.4355 ~~175~~168,~~554~~686.2701 ~~441~~0.2700 0.00 A3 184,000,000.00 1.~~37688~~38000% ~~155~~145,~~061~~730,~~386~~601.6863 ~~183~~173,~~848~~176.0253 ~~487~~0.3400 0.00 A4 72,600,000.00 1.~~69688~~70000% 72,600,000.00 106,~~083~~278.2833 ~~245~~0.00 0.00 M1 49,700,000.00 2.~~12688~~13000% 49,700,000.00 91,~~024~~158.5608 ~~205~~0.7300 0.00 M2 41,200,000.00 3.~~45688~~46000% 41,200,000.00 122,~~642~~753.4211 ~~268~~0.0400 0.00 M3 28,800,000.00 4.~~60688~~61000% 28,800,000.00 114,~~250~~328.6200 ~~246~~0.2800 0.00 M4 11,242,900.00 5.~~60688~~61000% 11,242,900.00 54,~~282~~312.3758 ~~116~~0.1500 0.00 X 0.00 0.00000% 0.01 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 CSFB 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 748,043,000.00 1,~~611~~575,~~153~~549.8166 ~~3,755~~0.2700 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-IO 0.00 0.00 ~~351~~342,~~642~~083.0833 0.00 8280,~~100~~000,000.00 B-IO 0.00 0.00 ~~146~~145,~~094~~833.8233 0.00 50,000,000.00 A1 0.00 0.00 ~~267~~256,~~476~~940.8336 0.00 ~~185~~177,~~330~~386,~~654~~700.6838 A2 0.00 0.00 ~~175~~168,~~995~~686.5401 0.00 ~~121~~116,~~672~~237,~~938~~095.5571 A3 0.00 0.00 ~~184~~173,~~335~~176.3653 0.00 ~~145~~135,~~730~~976,~~601~~494.6382 A4 0.00 0.00 106,~~328~~278.2833 0.00 72,600,000.00 M1 0.00 0.00 91,~~230~~158.2908 0.00 49,700,000.00 M2 0.00 0.00 122,~~910~~753.4611 0.00 41,200,000.00 M3 0.00 0.00 114,~~496~~328.9000 0.00 28,800,000.00 M4 0.00 0.00 54,~~398~~312.5258 0.00 11,242,900.00 X ~~617~~616.3235 0.00 2,~~660~~558,~~221~~958.6664 0.00 0.01 P 0.00 0.00 ~~509~~521,~~941~~968.1039 0.00 100.00 CSFB 0.00 0.00 0.00 0.00 0.00 Totals ~~617~~616.3235 0.00 4,~~785~~656,~~071~~476.8469 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-IO 0.00 5.00000% ~~855~~834.~~69105691~~34959350 3.~~56537937~~47645661 0.~~00821900~~00000000 0.00000000 B-IO 0.00 3.50000% 1000.00000000 2.91666660 0.~~00522980~~00000000 0.00000000 A1 217,500,000.00 1.~~60688~~61000% ~~886~~852.~~51594602~~09496405 1.~~22667407~~18133499 0.~~00310446~~00000000 0.00000000 A2 143,000,000.00 1.~~60688~~61000% ~~887~~850.~~22286315~~85971014 1.~~22765224~~17962245 0.~~00308580~~00000000 0.00000000 A3 184,000,000.00 1.~~37688~~38000% ~~842~~792.~~72492761~~01413929 0.~~99917402~~94117679 0.~~00264859~~00000000 0.00000000 A4 72,600,000.00 1.~~69688~~70000% 1000.00000000 1.~~46120220~~46388884 0.~~00337466~~00000000 0.00000000 M1 49,700,000.00 2.~~12688~~13000% 1000.00000000 1.~~83148008~~83416660 0.~~00413944~~00000000 0.00000000 M2 41,200,000.00 3.~~45688~~46000% 1000.00000000 2.~~97675777~~97944442 0.~~00650583~~00000000 0.00000000 M3 28,800,000.00 4.~~60688~~61000% 1000.00000000 3.~~96703542~~96972222 0.~~00855139~~00000000 0.00000000 M4 11,242,900.00 5.~~60688~~61000% 1000.00000000 4.~~82814665~~83083368 0.~~01033096~~00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 CSFB 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 A-IO 0.00000000 0.00000000 3.~~57359837~~47645661 0.00000000 ~~834~~813.~~34959350~~00813008 B-IO 0.00000000 0.00000000 2.~~92189640~~91666660 0.00000000 1000.00000000 A1 0.00000000 0.00000000 1.~~22977853~~18133499 0.00000000 ~~852~~815.~~09496405~~57103623 A2 0.00000000 0.00000000 1.~~23073804~~17962245 0.00000000 ~~850~~812.~~85971014~~84682315 A3 0.00000000 0.00000000 10.~~00182261~~94117679 0.00000000 ~~792~~739.~~01413929~~00268924 A4 0.00000000 0.00000000 1.~~46457686~~46388884 0.00000000 1000.00000000 M1 0.00000000 0.00000000 1.~~83561952~~83416660 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~98326359~~97944442 0.00000000 1000.00000000 M3 0.00000000 0.00000000 3.~~97558681~~96972222 0.00000000 1000.00000000 M4 0.00000000 0.00000000 4.~~83847762~~83083368 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~5099411~~5219683.~~00000000~~90000000 0.00000000 1000.00000000 CSFB 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 2627,~~565~~562,~~639~~633.9759 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~355~~378,~~163~~726.5378 Realized Loss (Gains, Subsequent Expenses & Recoveries) (15,~~024~~274.5242) Prepayment Penalties ~~509~~521,~~941~~968.1039 Total Deposits 2728,~~415~~448,~~720~~054.0834 Withdrawals Reimbursement for Servicer Advances ~~301~~355,~~216~~163.2953 Payment of Service Fee ~~312~~302,~~152~~510.4516 Payment of Interest and Principal 2627,~~802~~790,~~351~~380.3465 Total Withdrawals (Pool Distribution Amount) 2728,~~415~~448,~~720~~054.0834 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 ~~617~~616.3235

SERVICING FEES Gross Servicing Fee ~~288~~279,~~388~~200.8516 Strip Amount 23,~~763~~310.6000 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~312~~302,~~152~~510.4516

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 2025 53 1 2629 3,~~310~~950,~~720~~376.5182 ~~925~~693,~~596~~439.2735 37,~~211~~169.81 4,~~273~~680,~~528~~985.5998 30 Days ~~133~~129 31 25 0 ~~138~~135 2118,~~950~~277,~~074~~069.3986 ~~523~~33,~~259~~959.4250 ~~198~~611,~~452~~945.3499 0.00 2218,~~671~~922,~~786~~975.1535 60 Days 3747 5 68 0 4860 58,~~836~~590,~~277~~667.4978 1,~~059~~073,~~165~~436.6837 1,~~037~~283,~~059~~780.8948 0.00 710,~~932~~947,~~503~~884.0663 90 Days 27 813 8292 3 ~~120~~135 34,~~904~~825,~~823~~874.7707 12,~~458~~275,~~233~~820.8120 1012,~~438~~735,~~596~~992.2542 ~~294~~334,~~902~~941.9807 1620,~~096~~172,~~556~~627.8176 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 ~~197~~203 3644 95108 4 ~~332~~359 31,~~691~~693,~~175~~611.6571 67,~~351~~333,~~379~~592.4289 1215,~~599~~325,~~704~~158.7524 ~~332~~372,~~114~~110.7988 5054,~~974~~724,~~374~~473.6172 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.~~452591~~582479% 0.~~113148~~069897% 0.~~022630~~023299% 0.~~588368~~675676% 0.~~493591~~609972% 0.~~137996~~107073% 0.~~005548~~005739% 0.~~637135~~722784% 30 Days 3.~~009731~~005592% 0.~~067889~~023299% 0.~~045259~~116496% 0.000000% 3.~~122878~~145387% 32.~~272507~~822136% 0.~~078012~~005244% 0.~~029587~~094490% 0.000000% 32.~~380106~~921869% 60 Days 01.~~837294~~095061% 0.~~113148~~116496% 0.~~135777~~186393% 0.000000% 1.~~086219~~397950% 01.~~870123~~326473% 0.~~157910~~165748% 0.~~154614~~198227% 0.000000% 1.~~182646~~690447% 90 Days 0.~~610998~~629077% 0.~~181036~~302889% 12.~~855623~~143523% 0.~~067889~~069897% 23.~~715547~~145387% 0.~~582165~~745156% 0.~~217406~~351406% 1.~~556276~~966546% 0.~~043967~~051718% 23.~~399814~~114826% 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 4.~~458022~~729730% 01.~~814664~~025163% 2.~~149808~~516309% 0.~~090518~~093197% 78.~~513012~~364399% 4.~~724795~~893765% 01.~~946919~~132369% 12.~~878473~~366336% 0.~~049515~~057457% 78.~~599701~~449927%

Delinquency Status By Groups

~~Delinquency Status By Groups~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 911 32 1 1314 1,~~569~~818,~~635~~199.3252 ~~578~~439,~~165~~703.9863 37,~~211~~169.81 2,~~185~~295,~~013~~072.1196 30 Days 59 1 2 0 62 8,~~737~~240,~~821~~981.3946 ~~242~~33,~~694~~959.1750 ~~198~~121,~~452~~922.3435 0.00 98,~~178~~396,~~967~~863.9031 60 Days 1319 23 14 0 1626 13,~~498~~189,~~378~~010.8818 ~~152~~281,~~094~~482.8115 82374,~~243~~673.5127 0.00 13,~~732~~845,~~717~~165.2060 90 Days 78 12 3836 2 48 ~~659~~1,~~914~~305,440.3395 50211,~~822~~077.9093 4,~~282~~154,~~757~~138.1139 254,~~620~~456.8465 5,~~248~~925,~~115~~113.1892 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 7986 1317 44 3 ~~139~~150 1012,~~896~~735,~~114~~432.6059 2,~~015~~344,~~247~~719.2010 5,~~141~~090,~~618~~437.9464 291,~~832~~626.6546 1820,~~344~~462,~~813~~215.3979 0-29 Days 34.~~260870~~089219% 10.~~086957~~743494% 0.~~362319~~371747% 45.~~710145~~204461% 45.~~391104~~231438% 1.~~617438~~265143% 0.~~104101~~106947% 6.~~112643~~603528% 30 Days 21.~~376812~~933086% 0.~~362319~~371747% 0.~~724638~~743494% 0.000000% 2223.~~463768~~048327% 2423.~~444332~~711469% 0.~~678945~~097710% 0.~~555177~~350803% 0.000000% 2524.~~678453~~159982% 60 Days 47.~~710145~~063197% 01.~~724638~~115242% 01.~~362319~~486989% 0.000000% 59.~~797101~~665428% 49.~~191762~~175620% 0.~~425490~~809898% 01.~~230079~~078033% 0.000000% 411.~~847331~~063552% 90 Days 2.~~536232~~973978% 0.~~362319~~743494% 13.~~768116~~382900% 0.~~724638~~743494% 17.~~391304~~843866% 13.~~846131~~756097% 0.~~142179~~607327% 11.~~981149~~952548% 0.~~712310~~732139% 1417.~~681768~~048110% 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 2831.~~623188~~970260% 46.~~710145~~319703% 1516.~~942029~~356877% 1.~~086957~~115242% 5055.~~362319~~762082% 3036.~~482225~~643186% 56.~~637718~~746373% 14.~~383842~~646527% 0.~~816411~~839086% 5158.~~320196~~875172% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 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 1114 21 0 1315 12,~~741~~132,~~085~~177.1930 ~~347~~253,~~430~~735.2972 0.00 2,~~088~~385,~~515~~913.4802 30 Days 7470 2 0 3 0 7673 1310,~~212~~036,~~253~~088.40 0.00 ~~280~~490,~~565~~023.2564 0.00 ~~0.00 13~~10,~~492~~526,~~818~~112.2504 60 Days 2428 32 54 0 3234 45,~~337~~401,~~898~~657.6160 ~~907~~791,~~070~~954.8722 ~~954~~909,~~816~~107.3821 0.00 67,~~199~~102,~~785~~719.8603 90 Days 2019 711 4456 1 7287 3,~~244~~520,~~909~~433.4412 12,~~407~~064,~~410~~742.9127 68,~~155~~581,~~839~~854.1403 4080,~~282~~484.1442 1014,~~848~~247,~~441~~513.6384 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 ~~118~~117 2327 5164 1 ~~193~~209 2018,~~795~~958,~~061~~179.0512 4,~~336~~988,~~132~~873.2279 710,~~458~~234,~~085~~720.8160 4080,~~282~~484.1442 3234,~~629~~262,~~561~~257.2293 0-29 Days 01.~~841622~~103231% 0.~~153022~~078802% 0.000000% 01.~~994644~~182033% 1.~~098067~~403657% 0.~~219117~~167040% 0.000000% 1.~~317185~~570697% 30 Days 5.~~661821~~516154% 0.~~153022~~000000% 0.~~000000~~236407% 0.000000% 5.~~814843~~752561% 86.~~332701~~606968% 0.~~176947~~000000% 0.~~000000~~322593% 0.000000% 86.~~509648~~929561% 60 Days 12.~~836266~~206462% 0.~~229533~~157604% 0.~~382555~~315209% 0.000000% 2.~~448355~~679275% 23.~~735825~~556025% 0.~~572071~~521360% 0.~~602183~~598484% 0.000000% 34.~~910080~~675870% 90 Days 1.~~530222~~497242% 0.~~535578~~866824% 34.~~366488~~412924% 0.~~076511~~078802% 56.~~508799~~855792% 2.~~046499~~317575% 01.~~887626~~359263% 35.~~882363~~649615% 0.~~025405~~052985% 69.~~841893~~379438% 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 9.~~028309~~219858% 12.~~759755~~127660% 35.~~902066~~043341% 0.~~076511~~078802% 1416.~~766641~~469661% 1312.~~115025~~480569% 23.~~734711~~284281% 46.~~703664~~737732% 0.~~025405~~052985% 2022.~~578805~~555566% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~355~~378,~~163~~726.5378

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 7.~~980499~~974006% Weighted Average Net Coupon 7.~~480499~~474006% Weighted Average Pass-Through Rate 7.~~439213~~432264% Weighted Average Maturity(Stepdown Calculation ) ~~345~~344 Beginning Scheduled Collateral Loan Count 4,~~537~~419 Number Of Loans Paid In Full ~~118~~127 Ending Scheduled Collateral Loan Count 4,~~419~~292 Beginning Scheduled Collateral Balance ~~692~~670,~~133~~115,~~270~~990.3686 Ending Scheduled Collateral Balance ~~670~~646,~~115~~982,~~990~~086.8690 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 ~~670~~647,~~741~~632,~~819~~516.9238 Monthly P &I Constant 54,~~156~~995,~~344~~043.5322 Special Servicing Fee 0.00 Prepayment Penalties ~~509~~521,~~941~~968.1039 Realized Loss Amount 15,~~024~~274.5242 Cumulative Realized Loss 1530,~~024~~298.5294 Ending Scheduled Balance for Premium Loans ~~670~~646,~~115~~982,~~990~~086.8690 Scheduled Principal ~~553~~540,~~370~~682.3871 Unscheduled Principal 2122,~~463~~593,~~909~~221.1225 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 13,838,796.00 Overcollateralized Amount 13,823,~~771~~521.4858 Overcollateralized Deficiency Amount 15,~~024~~274.5242 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 15,~~024~~274.5242 Excess Cash Amount 2,~~679~~574,~~618~~849.7841

Miscellaneous Reporting Credit Enhancement Percentage 2122.~~603226~~375646% Payment under the CAP Agreement 0 A1 PTR (excl CAP) for Next Distribution 1.~~61%~~62 A2 PTR (excl CAP) for Next Distribution 1.~~61%~~62 A3 PTR (excl CAP) for Next Distribution 1.~~38%~~39 A4 PTR (excl CAP) for Next Distribution 1.~~70%~~71 M1 PTR (excl CAP) for Next Distribution 2.~~13%~~14 M2 PTR (excl CAP) for Next Distribution 3.~~46%~~47 M3 PTR (excl CAP) for Next Distribution 4.~~61%~~62 M4 PTR (excl CAP) for Next Distribution 5.~~61%~~62 Overcollateralization Increase 15,~~024~~274.5342 % of Prepayment Penalties Being Passed 9197.9206

Group Level Collateral Statement Group 1 1 2 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 78.~~942295~~020408 87.~~050504~~948706 7.~~961842~~959919 Weighted Average Net Rate 7.~~442296~~520408 7.~~550504~~448706 7.~~461842~~459919 Weighted Average Maturity ~~350~~349 ~~350~~349 ~~350~~349 Beginning Loan Count ~~281~~276 1,~~481~~440 1,~~330~~307 Loans Paid In Full 57 4142 2338 Ending Loan Count ~~276~~269 1,~~440~~398 1,~~307~~269 Beginning Scheduled Balance 3635,~~634~~711,~~812~~023.7817 ~~207~~200,~~296~~739,~~790~~125.3519 ~~162~~158,~~224~~394,~~138~~843.1468 Ending scheduled Balance 3534,~~711~~718,~~023~~574.1760 ~~200~~193,~~739~~792,~~125~~864.1954 ~~158~~151,~~394~~733,~~843~~959.6893 Record Date 0708/31/2003 0708/31/2003 0708/31/2003 Principal And Interest Constant ~~277~~270,~~546~~984.4535 1,~~539~~490,~~739~~606.8343 1,~~235~~208,~~825~~045.1869 Scheduled Principal 3534,~~076~~168.0337 ~~149~~145,~~036~~630.8444 ~~159~~157,~~489~~370.3256 Unscheduled Principal ~~888~~958,~~713~~280.5820 6,~~408~~800,~~628~~630.3221 36,~~669~~503,~~805~~513.1419 Scheduled Interest ~~242~~236,~~470~~815.4298 1,~~390~~344,~~702~~975.99 1,~~076~~050,~~335~~675.8613 Servicing Fees 1514,~~264~~879.5060 8683,~~373~~641.6630 6765,~~593~~997.3985 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 0.00 0.00 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 ~~227~~221,~~205~~936.9238 1,~~304~~261,~~329~~334.3369 1984,~~008,742~~677.4728 Realized Loss Amount 0.00 0.00 015,274.0042 Cumulative Realized Loss 0.00 0.00 015,274.0042 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.~~492810~~478666 7.~~410043~~406964 7.~~461842~~459919

Group Level Collateral Statement Group 2 Total Collateral Description Fixed 15/30 & ARM Fixed & Mixed ARM Weighted Average Coupon Rate 7.~~945232~~942254 7.~~980499~~974006 Weighted Average Net Rate 7.~~445232~~442254 7.~~480499~~474006 Weighted Average Maturity ~~346~~ 345 344 Beginning Loan Count 1,~~445~~396 4,~~537~~419 Loans Paid In Full 4940 ~~118~~127 Ending Loan Count 1,~~396~~356 4,~~419~~292 Beginning Scheduled Balance ~~285~~275,~~977~~270,~~529~~998.0982 ~~692~~670,~~133~~115,~~270~~990.3686 Ending scheduled Balance ~~275~~266,~~270~~736,~~998~~687.8283 ~~670~~646,~~115~~982,~~990~~086.8690 Record Date 0708/31/2003 0708/31/2003 Principal And Interest Constant 2,~~103~~025,~~233~~406.0775 54,~~156~~995,~~344~~043.5322 Scheduled Principal ~~209~~203,~~768~~513.1934 ~~553~~540,~~370~~682.3871 Unscheduled Principal 108,~~496~~330,~~762~~797.0865 2122,~~463~~593,~~909~~221.1225 Scheduled Interest 1,~~893~~821,~~464~~893.8841 4,~~602~~454,~~974~~360.1551 Servicing Fees ~~119~~114,~~157~~696.3025 ~~288~~279,~~388~~215.8500 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 0.00 0.00 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 1,~~774~~707,~~307~~197.5816 4,~~314~~175,~~585~~145.3051 Realized Loss Amount ~~15,024~~0.5200 15,~~024~~274.5242 Cumulative Realized Loss 15,024.52 1530,~~024~~298.5294 Percentage of Cumulative Losses 0.00 0.00 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.~~445232~~442254 7.~~439213~~432264

Filing Compare · ASSET BACKED SEC CORP HOME EQU LOAN TR SER 2003-HE1