8-K 1 mam03001.txt SEPTEMBER 8-K 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 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) 54-2120454 jurisdiction 54-2120455 of Incorporation) 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 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 September 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: 9/30/03 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 September 25, 2003 distribution. EX-99.1

Mortgage Asset Securitization Transactions, Inc Mortgage Pass-Through Certificates Record Date: 78/31/03 Distribution Date: 89/25/03 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% 98,~~411~~198,~~603~~700.3020 3227,~~404~~684.5192 1,~~212~~605,~~903~~631.0926 1-AIO 576433CJ3 IO 1.~~42128~~45728% 0.00 119,~~097~~721.8263 0.00 2-A1 576433DA1 SEN 4.65000% 3126,~~489~~785,~~022~~082.9184 ~~121~~101,~~480~~343.2953 43,~~703~~256,~~940~~071.0881 2-A2 576433DC7 SEN 4.65000% 4135,~~701~~471,~~366~~871.8824 ~~160~~134,~~878~~210.1070 64,~~229~~312,~~495~~062.6483 2-A3 576433DD5 SEN 4.65000% 1,~~459~~241,~~547~~515.8449 54,~~630~~697.7337 ~~218~~150,~~032~~922.3520 2-AIO 576433CK0 IO 0.~~28144~~28071% 0.00 1714,~~430~~503.6028 0.00 3-A1 576433CL8 SEN 4.95000% 1715,~~532~~098,~~456~~021.9649 7260,~~001~~810.5205 23,~~434~~264,~~435~~945.4620 3-AIO 576433CM6 IO 0.~~66022~~62633% 0.00 97,~~603~~694.4434 0.00 AR 576433CN4 SEN 5.~~62741~~58497% 0.00 0.00 0.00 B-1 576433CQ7 SUB 5.~~10689~~10516% 2,~~596~~593,~~369~~373.0243 1110,~~000~~772.6069 23,~~995~~005.5982 B-2 576433CR5 SUB 5.~~10689~~10516% ~~891~~890,~~943~~914.1506 3,~~779~~700.0979 1,~~029~~032.0960 B-3 576433CS3 SUB 5.~~10689~~10516% ~~730~~729,~~042~~200.5526 3,~~093~~029.1305 ~~842~~845.3017 B-4 576433CW4 SUB 5.~~10689~~10516% 324,~~794~~419.4471 1,~~376~~347.1362 ~~374~~376.7402 B-5 576433CX2 SUB 5.~~10689~~10516% 243,~~347~~066.5275 1,~~031~~009.0468 ~~280~~281.7772 B-6 576433CY0 SUB 5.~~10689~~10516% 324,~~805~~430.1843 1,~~376~~347.1766 ~~374~~376.7402 4-A1 576433CT1 SEN 1.~~60000~~61000% 6862,~~329~~390,~~117~~606.2295 9486,~~142~~497.3364 5,~~938~~368,~~510~~120.2794 4-M1 576433CU8 SUB 2.~~60000~~61000% 2,999,138.00 6,~~714~~740.7456 0.00 4-M2 576433DB9 SUB 3.~~60000~~61000% 2,537,732.00 7,~~866~~888.9782 0.00 4-B 576433CV6 SUB 5.~~10000~~11000% 1,845,623.00 8,~~105~~121.3625 0.00 4-X 576433CZ7 SUB 0.00000% 922,811.62 ~~305~~275,~~457~~216.8297 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 ~~183~~162,~~339~~596,~~721~~507.5947 ~~874~~766,~~470~~338.3955 2017,~~743~~963,~~214~~671.1259

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A1 0.00 86,~~198~~593,~~700~~068.2094 1,~~245~~633,~~307~~316.6018 0.00 1-AIO 0.00 0.00 119,~~097~~721.8263 0.00 2-A1 0.00 2623,~~785~~529,~~082~~011.8403 43,~~825~~357,~~420~~415.3734 0.00 2-A2 0.00 3531,~~471~~159,~~871~~808.2442 64,~~390~~446,~~373~~273.7453 0.00 2-A3 0.00 1,~~241~~090,~~515~~593.4929 ~~223~~155,~~663~~619.0857 0.00 2-AIO 0.00 0.00 1714,~~430~~503.6028 0.00 3-A1 0.00 1511,~~098~~833,~~021~~076.4930 23,~~506~~325,~~436~~755.9825 0.00 3-AIO 0.00 0.00 97,~~603~~694.4434 0.00 AR 0.00 0.00 0.00 0.00 B-1 0.00 2,~~593~~590,~~373~~367.4361 13,~~996~~778.1951 0.00 B-2 0.00 ~~890~~889,~~914~~881.0645 4,~~808~~733.1839 0.00 B-3 0.00 ~~729~~728,~~200~~355.2608 3,~~935~~874.4322 0.00 B-4 0.00 324,~~419~~043.7169 1,~~750~~723.8764 0.00 B-5 0.00 ~~243~~242,~~066~~785.7503 1,~~311~~291.8140 0.00 B-6 0.00 324,~~430~~054.4340 1,~~750~~723.9168 4.04 4-A1 0.00 6257,~~390~~022,~~606~~486.9501 65,~~032~~454,~~652~~618.6058 0.00 4-M1 0.00 2,999,138.00 6,~~714~~740.7456 0.00 4-M2 0.00 2,537,732.00 7,~~866~~888.9782 0.00 4-B 0.00 1,845,623.00 8,~~105~~121.3625 0.00 4-X 0.00 922,811.62 ~~305~~275,~~457~~216.8297 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 ~~162~~144,~~596~~632,~~507~~835.4787 2118,~~617~~730,~~684~~010.5114 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 98,~~411~~198,~~603~~700.3020 109,~~450~~088.3122 1,~~202~~596,~~452~~543.7804 0.00 0.00 1-AIO 0.00 0.00 0.00 0.00 0.00 0.00 2-A1 49,082,000.00 3126,~~489~~785,~~022~~082.9184 3832,~~184~~806.3092 43,~~665~~223,~~755~~264.7789 0.00 0.00 2-A2 65,000,000.00 4135,~~701~~471,~~366~~871.8824 5043,~~568~~446.0267 64,~~178~~268,~~927~~616.6215 0.00 0.00 2-A3 2,275,000.00 1,~~459~~241,~~547~~515.8449 1,~~769~~520.8863 ~~216~~149,~~262~~401.4757 0.00 0.00 2-AIO 0.00 0.00 0.00 0.00 0.00 0.00 3-A1 24,294,000.00 1715,~~532~~098,~~456~~021.9649 1513,~~845~~304.3277 23,~~418~~251,~~590~~640.1443 0.00 0.00 AR 100.00 0.00 0.00 0.00 0.00 0.00 B-1 2,614,000.00 2,~~596~~593,~~369~~373.0243 23,~~995~~005.5982 0.00 0.00 0.00 B-2 898,000.00 ~~891~~890,~~943~~914.1506 1,~~029~~032.0960 0.00 0.00 0.00 B-3 735,000.00 ~~730~~729,~~042~~200.5526 ~~842~~845.3017 0.00 0.00 0.00 B-4 327,000.00 324,~~794~~419.4471 ~~374~~376.7402 0.00 0.00 0.00 B-5 245,000.00 243,~~347~~066.5275 ~~280~~281.7772 0.00 0.00 0.00 B-6 327,010.81 324,~~805~~430.1843 ~~374~~376.7402 0.00 0.00 0.00 4-A1 83,975,857.00 6862,~~329~~390,~~117~~606.2295 0.00 5,~~938~~368,~~510~~120.2794 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 ~~183~~162,~~339~~596,~~721~~507.5947 ~~122~~106,~~715~~084.0656 2017,~~620~~857,~~499~~587.0502 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 1,~~212~~605,~~903~~631.0926 86,~~198~~593,~~700~~068.2094 0.~~46705595~~37558784 1,~~212~~605,~~903~~631.0926 1-AIO 0.00 0.00 0.00000000 0.00 2-A1 43,~~703~~256,~~940~~071.0881 2623,~~785~~529,~~082~~011.8403 0.~~54572110~~47938167 43,~~703~~256,~~940~~071.0881 2-A2 64,~~229~~312,~~495~~062.6483 3531,~~471~~159,~~871~~808.2442 0.~~54572110~~47938167 64,~~229~~312,~~495~~062.6483 2-A3 ~~218~~150,~~032~~922.3520 1,~~241~~090,~~515~~593.4929 0.~~54572109~~47938167 ~~218~~150,~~032~~922.3520 2-AIO 0.00 0.00 0.00000000 0.00 3-A1 23,~~434~~264,~~435~~945.4620 1511,~~098~~833,~~021~~076.4930 0.~~62147121~~48707814 23,~~434~~264,~~435~~945.4620 AR 0.00 0.00 0.00000000 0.00 B-1 23,~~995~~005.5982 2,~~593~~590,~~373~~367.4361 0.~~99210919~~99095930 23,~~995~~005.5982 B-2 1,~~029~~032.0960 ~~890~~889,~~914~~881.0645 0.~~99210920~~99095930 1,~~029~~032.0960 B-3 ~~842~~845.3017 ~~729~~728,~~200~~355.2608 0.~~99210920~~99095929 ~~842~~845.3017 B-4 ~~374~~376.7402 324,~~419~~043.7169 0.~~99210920~~99095930 ~~374~~376.7402 B-5 ~~280~~281.7772 ~~243~~242,~~066~~785.7503 0.~~99210918~~99095931 ~~280~~281.7772 B-6 ~~374~~376.7402 324,~~430~~054.4340 0.~~99210919~~99095929 ~~374~~376.7402 4-A1 5,~~938~~368,~~510~~120.2794 6257,~~390~~022,~~606~~486.9501 0.~~74295886~~67903428 5,~~938~~368,~~510~~120.2794 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 2017,~~743~~963,~~214~~671.1259 ~~162~~144,~~596~~632,~~507~~835.4787 0.~~63605626~~56578473 2017,~~743~~963,~~214~~671.1259

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 ~~536~~467.~~15149254~~05595306 0.~~59532357~~51772929 6890.~~50021534~~95038396 0.00000000 1-AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 2-A1 49,082,000.00 ~~641~~545.~~55949044~~72109612 0.~~77796952~~66841042 9565.~~06042480~~67101768 0.00000000 2-A2 65,000,000.00 ~~641~~545.~~55949046~~72109600 0.~~77796954~~66841031 9565.~~06042492~~67101769 0.00000000 2-A3 2,275,000.00 ~~641~~545.~~55949011~~72109451 0.~~77796923~~66840879 9565.~~06042637~~67101978 0.00000000 2-AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 3-A1 24,294,000.00 ~~721~~621.~~67847864~~47120647 0.~~65223183~~54765662 99133.~~55503993~~84541162 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 ~~993~~992.~~25517215~~10919281 1.~~14597934~~14989288 0.00000000 0.00000000 B-2 898,000.00 ~~993~~992.~~25517817~~10919822 1.~~14597996~~14988864 0.00000000 0.00000000 B-3 735,000.00 ~~993~~992.~~25517007~~10919728 1.~~14598639~~14989116 0.00000000 0.00000000 B-4 327,000.00 ~~993~~992.~~25516820~~10920489 1.~~14599388~~14990826 0.00000000 0.00000000 B-5 245,000.00 ~~993~~992.~~25518367~~10918367 1.~~14600000~~14987755 0.00000000 0.00000000 B-6 327,010.81 ~~993~~992.~~25517710~~10919052 1.~~14595600~~14987024 0.00000000 0.00000000 4-A1 83,975,857.00 ~~813~~742.~~67573563~~95885959 0.00000000 7063.~~71687604~~92457465 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 6991.~~09553891~~46811325 ~~467~~375.~~05595306~~58783981 0.~~46705595~~37558784 6991.~~09553891~~46811325 1-AIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-A1 0.00000000 9566.~~83839452~~33942810 ~~545~~479.~~72109612~~38166802 0.~~54572110~~47938167 9566.~~83839452~~33942810 2-A2 0.00000000 9566.~~83839446~~33942815 ~~545~~479.~~72109600~~38166800 0.~~54572110~~47938167 9566.~~83839446~~33942815 2-A3 0.00000000 9566.~~83839560~~33942857 ~~545~~479.~~72109451~~38166593 0.~~54572109~~47938167 9566.~~83839560~~33942857 2-AIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3-A1 0.00000000 ~~100~~134.~~20727175~~39306825 ~~621~~487.~~47120647~~07813864 0.~~62147121~~48707814 ~~100~~134.~~20727175~~39306825 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.~~14597934~~14989288 ~~992~~990.~~10919281~~95929992 0.~~99210919~~99095930 1.~~14597934~~14989288 B-2 0.00000000 1.~~14597996~~14988864 ~~992~~990.~~10919822~~95929844 0.~~99210920~~99095930 1.~~14597996~~14988864 B-3 0.00000000 1.~~14598639~~14989116 ~~992~~990.~~10919728~~95929252 0.~~99210920~~99095929 1.~~14598639~~14989116 B-4 0.00000000 1.~~14599388~~14990826 ~~992~~990.~~10920489~~95929664 0.~~99210920~~99095930 1.~~14599388~~14990826 B-5 0.00000000 1.~~14600000~~14987755 ~~992~~990.~~10918367~~95930612 0.~~99210918~~99095931 1.~~14600000~~14987755 B-6 0.00000000 1.~~14595600~~14987024 ~~992~~990.~~10919052~~95928969 0.~~99210919~~99095929 1.~~14595600~~14987024 4-A1 0.00000000 7063.~~71687604~~92457465 ~~742~~679.~~95885959~~03428494 0.~~74295886~~67903428 7063.~~71687604~~92457465 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% 98,~~411~~198,~~603~~700.3020 3228,~~548~~353.4684 0.00 0.00 1-AIO 0.00 1.~~42128~~45728% 98,~~411~~198,~~603~~700.3020 119,~~147~~956.1151 0.00 0.00 2-A1 49,082,000.00 4.65000% 3126,~~489~~785,~~022~~082.9184 ~~122~~103,~~019~~792.9620 0.00 0.00 2-A2 65,000,000.00 4.65000% 4135,~~701~~471,~~366~~871.8824 ~~161~~137,~~592~~453.8050 0.00 0.00 2-A3 2,275,000.00 4.65000% 1,~~459~~241,~~547~~515.8449 54,~~655~~810.7587 0.00 0.00 2-AIO 0.00 0.~~28144~~28071% 7463,~~649~~498,~~937~~469.6457 1714,~~508~~853.0576 0.00 0.00 3-A1 24,294,000.00 4.95000% 1715,~~532~~098,~~456~~021.9649 7262,~~321~~279.3834 0.00 0.00 3-AIO 0.00 0.~~66022~~62633% 1715,~~532~~098,~~456~~021.9649 97,~~646~~880.1323 0.00 0.00 AR 100.00 5.~~62741~~58497% 0.00 0.00 0.00 0.00 B-1 2,614,000.00 5.~~10689~~10516% 2,~~596~~593,~~369~~373.0243 11,~~049~~032.4798 0.00 0.00 B-2 898,000.00 5.~~10689~~10516% ~~891~~890,~~943~~914.1506 3,~~795~~790.8821 0.00 0.00 B-3 735,000.00 5.~~10689~~10516% ~~730~~729,~~042~~200.5526 3,~~106~~102.8723 0.00 0.00 B-4 327,000.00 5.~~10689~~10516% 324,~~794~~419.4471 1,~~382~~380.2418 0.00 0.00 B-5 245,000.00 5.~~10689~~10516% 243,~~347~~066.5275 1,~~035~~034.6208 0.00 0.00 B-6 327,010.81 5.~~10689~~10516% 324,~~805~~430.1843 1,~~382~~380.2922 0.00 0.00 4-A1 83,975,857.00 1.~~60000~~61000% 6862,~~329~~390,~~117~~606.2295 9486,~~142~~497.3464 0.00 0.00 4-M1 2,999,138.00 2.~~60000~~61000% 2,999,138.00 6,~~714~~740.7456 0.00 0.00 4-M2 2,537,732.00 3.~~60000~~61000% 2,537,732.00 7,~~866~~888.9782 0.00 0.00 4-B 1,845,623.00 5.~~10000~~11000% 1,845,623.00 8,~~105~~121.3625 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 ~~571~~500,~~021~~348.42 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 ~~143~~668.9692 0.00 3227,~~404~~684.5192 0.00 86,~~198~~593,~~700~~068.2094 1-AIO 49234.3089 0.00 119,~~097~~721.8263 0.00 86,~~198~~593,~~700~~068.2094 2-A1 ~~539~~2,448.6766 0.00 ~~121~~101,~~480~~343.2953 0.00 2623,~~785~~529,~~082~~011.8403 2-A2 ~~714~~3,242.7080 0.00 ~~160~~134,~~878~~210.1070 0.00 3531,~~471~~159,~~871~~808.2442 2-A3 25113.0150 0.00 54,~~630~~697.7337 0.00 1,~~241~~090,~~515~~593.4929 2-AIO 77350.43 0.00 1714,~~430~~503.6028 0.00 6355,~~498~~779,~~469~~412.5774 3-A1 ~~319~~1,469.8629 0.00 7260,~~001~~810.5205 0.00 1511,~~098~~833,~~021~~076.4930 3-AIO 42185.6691 0.00 97,~~603~~694.4434 0.00 1511,~~098~~833,~~021~~076.4930 AR 0.00 0.00 0.00 0.00 0.00 B-1 48260.8729 0.00 1110,~~000~~772.6069 0.00 2,~~593~~590,~~373~~367.4361 B-2 1689.7942 0.00 3,~~779~~700.0979 0.00 ~~890~~889,~~914~~881.0645 B-3 1373.7419 0.00 3,~~093~~029.1305 0.00 ~~729~~728,~~200~~355.2608 B-4 632.1156 0.00 1,~~376~~347.1362 0.00 324,~~419~~043.7169 B-5 424.5840 0.00 1,~~031~~009.0468 0.00 ~~243~~242,~~066~~785.7503 B-6 632.1156 0.00 1,~~376~~347.1766 0.00 324,~~430~~054.4340 4-A1 0.00 0.00 9486,~~142~~497.3364 0.00 6257,~~390~~022,~~606~~486.9501 4-M1 0.00 0.00 6,~~714~~740.7456 0.00 2,999,138.00 4-M2 0.00 0.00 7,~~866~~888.9782 0.00 2,537,732.00 4-B 0.00 0.00 8,~~105~~121.3625 0.00 1,845,623.00 4-X 0.00 0.00 ~~305~~275,~~457~~216.8297 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 29,~~008~~226.7982 0.00 ~~874~~766,~~470~~338.3955 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% ~~536~~467.~~15149254~~05595306 1.~~85419050~~61523527 0.00000000 0.00000000 1-AIO 0.00 1.~~42128~~45728% ~~536~~467.~~15149254~~05595306 0.~~63501823~~56719323 0.00000000 0.00000000 2-A1 49,082,000.00 4.65000% ~~641~~545.~~55949044~~72109612 2.~~48604295~~11466933 0.00000000 0.00000000 2-A2 65,000,000.00 4.65000% ~~641~~545.~~55949046~~72109600 2.~~48604308~~11466923 0.00000000 0.00000000 2-A3 2,275,000.00 4.65000% ~~641~~545.~~55949011~~72109451 2.~~48604396~~11466813 0.00000000 0.00000000 2-AIO 0.00 0.~~28144~~28071% ~~641~~545.~~55949053~~72109602 0.~~15046839~~12765678 0.00000000 0.00000000 3-A1 24,294,000.00 4.95000% ~~721~~621.~~67847864~~47120647 2.~~97692352~~56356878 0.00000000 0.00000000 3-AIO 0.00 0.~~66022~~62633% ~~721~~621.~~67847864~~47120647 0.~~39705812~~32436939 0.00000000 0.00000000 AR 100.00 5.~~62741~~58497% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,614,000.00 5.~~10689~~10516% ~~993~~992.~~25517215~~10919281 4.~~22703520~~22072686 0.00000000 0.00000000 B-2 898,000.00 5.~~10689~~10516% ~~993~~992.~~25517817~~10919822 4.~~22703786~~22072383 0.00000000 0.00000000 B-3 735,000.00 5.~~10689~~10516% ~~993~~992.~~25517007~~10919728 4.~~22703401~~22072109 0.00000000 0.00000000 B-4 327,000.00 5.~~10689~~10516% ~~993~~992.~~25516820~~10920489 4.~~22703364~~22073394 0.00000000 0.00000000 B-5 245,000.00 5.~~10689~~10516% ~~993~~992.~~25518367~~10918367 4.~~22702041~~22073469 0.00000000 0.00000000 B-6 327,010.81 5.~~10689~~10516% ~~993~~992.~~25517710~~10919052 4.~~22704681~~22071674 0.00000000 0.00000000 4-A1 83,975,857.00 1.~~60000~~61000% ~~813~~742.~~67573563~~95885959 1.~~12106436~~03002986 0.00000000 0.00000000 4-M1 2,999,138.00 2.~~60000~~61000% 1000.00000000 2.~~23888997~~24749911 0.00000000 0.00000000 4-M2 2,537,732.00 3.~~60000~~61000% 1000.00000000 3.~~10000032~~10861037 0.00000000 0.00000000 4-B 1,845,623.00 5.~~10000~~11000% 1000.00000000 4.~~39166612~~40027568 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.~~00820098~~03810641 0.00000000 1.~~84599009~~57712886 0.00000000 ~~467~~375.~~05595306~~58783981 1-AIO 0.~~00280848~~01338100 0.00000000 0.~~63221032~~55381281 0.00000000 ~~467~~375.~~05595306~~58783981 2-A1 0.~~01099527~~04988917 0.00000000 2.~~47504768~~06477996 0.00000000 ~~545~~479.~~72109612~~38166802 2-A2 0.~~01099538~~04988923 0.00000000 2.~~47504769~~06478000 0.00000000 ~~545~~479.~~72109600~~38166800 2-A3 0.~~01099341~~04989011 0.00000000 2.~~47504615~~06477802 0.00000000 ~~545~~479.~~72109451~~38166593 2-AIO 0.~~00066545~~00301168 0.00000000 0.~~14980276~~12464467 0.00000000 ~~545~~479.~~72109602~~38166797 3-A1 0.~~01316621~~06047954 0.00000000 2.~~96375731~~50308924 0.00000000 ~~621~~487.~~47120647~~07813864 3-AIO 0.~~00175599~~00765251 0.00000000 0.~~39530090~~31671771 0.00000000 ~~621~~487.~~47120647~~07813864 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.~~01869549~~09957536 0.00000000 4.~~20833971~~12115149 0.00000000 ~~992~~990.~~10919281~~95929992 B-2 0.~~01869710~~09957684 0.00000000 4.~~20834076~~12114699 0.00000000 ~~992~~990.~~10919822~~95929844 B-3 0.~~01869388~~09957823 0.00000000 4.~~20834014~~12115646 0.00000000 ~~992~~990.~~10919728~~95929252 B-4 0.~~01868502~~09957187 0.00000000 4.~~20834862~~12116208 0.00000000 ~~992~~990.~~10920489~~95929664 B-5 0.~~01869388~~09959184 0.00000000 4.~~20832653~~12114286 0.00000000 ~~992~~990.~~10918367~~95930612 B-6 0.~~01868440~~09956857 0.00000000 4.~~20833183~~12114817 0.00000000 ~~992~~990.~~10919052~~95928969 4-A1 0.00000000 0.00000000 1.~~12106424~~03002986 0.00000000 ~~742~~679.~~95885959~~03428494 4-M1 0.00000000 0.00000000 2.~~23888997~~24749911 0.00000000 1000.00000000 4-M2 0.00000000 0.00000000 3.~~10000032~~10861037 0.00000000 1000.00000000 4-B 0.00000000 0.00000000 4.~~39166612~~40027568 0.00000000 1000.00000000 4-X 0.00000000 0.00000000 ~~331~~298.~~00766263~~23733423 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 2118,~~608~~698,~~377~~060.5936 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 6581,~~438~~680.3450 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2118,~~673~~779,~~815~~740.9386 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 5649,~~131~~730.4272 Payment of Interest and Principal 2118,~~617~~730,~~684~~010.5114 Total Withdrawals (Pool Distribution Amount) 2118,~~673~~779,~~815~~740.9386 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 29,~~008~~226.7982 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 29,~~008~~226.7982

SERVICING FEES Gross Servicing Fee 5447,~~000~~731.9852 LPMI 21,~~130~~999.4420 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 5649,~~131~~730.4272

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 02 0 0 02 0161,620.0049 0.00 0.00 0161,620.0049 30 Days 2532 0 0 0 2532 58,~~958~~042,~~189~~565.1035 0.00 0.00 0.00 58,~~958~~042,~~189~~565.1035 60 Days 129 0 0 0 129 31,~~107~~747,~~745~~339.0507 0.00 0.00 0.00 31,~~107~~747,~~745~~339.0507 90 Days 37 0 0 0 37 ~~827~~2,~~317~~145,854.3997 0.00 0.00 0.00 ~~827~~2,~~317~~145,854.3997 120 Days 13 0 0 0 13 ~~373~~1,~~500~~077,206.0014 0.00 0.00 0.00 ~~373~~1,~~500~~077,206.0014 150 Days 10 0 0 0 10 ~~212,490~~0.1600 0.00 0.00 0.00 ~~212,490~~0.1600 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 4251 02 0 0 4253 1013,~~479~~012,~~241~~965.7053 0161,620.0049 0.00 0.00 1013,~~479~~174,~~241~~586.7002 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~~443459% 0.000000% 0.000000% 0.~~000000~~443459% 0.~~000000~~111644% 0.000000% 0.000000% 0.~~000000~~111644% 30 Days 57.~~050505~~095344% 0.000000% 0.000000% 0.000000% 57.~~050505~~095344% 35.~~661366~~555620% 0.000000% 0.000000% 0.000000% 35.~~661366~~555620% 60 Days 21.~~424242~~995565% 0.000000% 0.000000% 0.000000% 21.~~424242~~995565% 1.~~909740~~207022% 0.000000% 0.000000% 0.000000% 1.~~909740~~207022% 90 Days 01.~~606061~~552106% 0.000000% 0.000000% 0.000000% 01.~~606061~~552106% 01.~~508395~~482308% 0.000000% 0.000000% 0.000000% 01.~~508395~~482308% 120 Days 0.~~202020~~665188% 0.000000% 0.000000% 0.000000% 0.~~202020~~665188% 0.~~229519~~744109% 0.000000% 0.000000% 0.000000% 0.~~229519~~744109% 150 Days 0.~~202020~~000000% 0.000000% 0.000000% 0.000000% 0.~~202020~~000000% 0.~~130577~~000000% 0.000000% 0.000000% 0.000000% 0.~~130577~~000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 811.~~484848~~308204% 0.~~000000~~443459% 0.000000% 0.000000% 811.~~484848~~751663% 68.~~439597~~989059% 0.~~000000~~111644% 0.000000% 0.000000% 69.~~439597~~100703%

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 1 0 0 0 1 ~~376~~375,~~117~~752.1862 0.00 0.00 0.00 ~~376~~375,~~117~~752.1862 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 ~~376~~375,~~117~~752.1862 0.00 0.00 0.00 ~~376~~375,~~117~~752.1862 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 56.~~555556~~666667% 0.000000% 0.000000% 0.000000% 56.~~555556~~666667% 45.~~286308~~243073% 0.000000% 0.000000% 0.000000% 45.~~286308~~243073% 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 56.~~555556~~666667% 0.000000% 0.000000% 0.000000% 56.~~555556~~666667% 45.~~286308~~243073% 0.000000% 0.000000% 0.000000% 45.~~286308~~243073% 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 01 0 0 0 01 0493,353.0066 0.00 0.00 0.00 0493,353.0066 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 0493,353.0066 0.00 0.00 0.00 0493,353.0066 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~724638% 0.000000% 0.000000% 0.000000% 0.~~000000~~724638% 0.~~000000~~827895% 0.000000% 0.000000% 0.000000% 0.~~000000~~827895% 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~~724638% 0.000000% 0.000000% 0.000000% 0.~~000000~~724638% 0.~~000000~~827895% 0.000000% 0.000000% 0.000000% 0.~~000000~~827895% 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 02 0 0 02 0161,620.0049 0.00 0.00 0161,620.0049 30 Days 2430 0 0 0 2430 57,~~582~~173,~~071~~459.9207 0.00 0.00 0.00 57,~~582~~173,~~071~~459.9207 60 Days 129 0 0 0 129 31,~~107~~747,~~745~~339.0507 0.00 0.00 0.00 31,~~107~~747,~~745~~339.0507 90 Days 37 0 0 0 37 ~~827~~2,~~317~~145,854.3997 0.00 0.00 0.00 ~~827~~2,~~317~~145,854.3997 120 Days 13 0 0 0 13 ~~373~~1,~~500~~077,206.0014 0.00 0.00 0.00 ~~373~~1,~~500~~077,206.0014 150 Days 10 0 0 0 10 ~~212,490~~0.1600 0.00 0.00 0.00 ~~212,490~~0.1600 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 4149 02 0 0 4151 1012,~~103~~143,~~124~~859.5225 0161,620.0049 0.00 0.00 1012,~~103~~305,~~124~~479.5274 0-29 Days 0.~~000000~~743494% 0.000000% 0.000000% 0.~~000000~~743494% 0.~~000000~~247200% 0.000000% 0.000000% 0.~~000000~~247200% 30 Days 811.~~362369~~152416% 0.000000% 0.000000% 0.000000% 811.~~362369~~152416% 710.~~890558~~971857% 0.000000% 0.000000% 0.000000% 710.~~890558~~971857% 60 Days 43.~~181185~~345725% 0.000000% 0.000000% 0.000000% 43.~~181185~~345725% 42.~~392964~~672568% 0.000000% 0.000000% 0.000000% 42.~~392964~~672568% 90 Days 12.~~045296~~602230% 0.000000% 0.000000% 0.000000% 12.~~045296~~602230% 13.~~169458~~282100% 0.000000% 0.000000% 0.000000% 13.~~169458~~282100% 120 Days 01.~~348432~~115242% 0.000000% 0.000000% 0.000000% 01.~~348432~~115242% 01.~~527962~~647594% 0.000000% 0.000000% 0.000000% 01.~~527962~~647594% 150 Days 0.~~348432~~000000% 0.000000% 0.000000% 0.000000% 0.~~348432~~000000% 0.~~300366~~000000% 0.000000% 0.000000% 0.000000% 0.~~300366~~000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1418.~~285714~~215613% 0.~~000000~~743494% 0.000000% 0.000000% 1418.~~285714~~959108% 1418.~~281309~~574119% 0.~~000000~~247200% 0.000000% 0.000000% 1418.~~281309~~821319%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 6581,~~438~~680.3450

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 150,000.00 0.05867804% 150,000.00 0.~~09225290~~10371089% Fraud 3,267,022.00 1.27801626% 3,267,022.00 2.~~00928178~~25883838% Special Hazard 3,661,499.00 1.43233050% 3,661,499.00 2.~~25189277~~53158211% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~104500~~096311% Weighted Average Pass-Through Rate 5.~~737107~~729287% Weighted Average Maturity(Stepdown Calculation ) ~~349~~348 Beginning Scheduled Collateral Loan Count ~~546~~495 Number Of Loans Paid In Full 5144 Ending Scheduled Collateral Loan Count ~~495~~451 Beginning Scheduled Collateral Balance ~~183~~162,~~339~~596,~~721~~507.5947 Ending Scheduled Collateral Balance ~~162~~144,~~596~~632,~~507~~835.4787 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 ~~162~~144,~~731~~764,~~336~~492.3725 Monthly P &I Constant 1976,~~102,341~~034.1912 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 2118,~~225~~380,~~597~~941.5762 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~162~~144,~~596~~632,~~507~~835.4787 Scheduled Principal ~~169~~150,~~676~~001.7675 Unscheduled Principal 2017,~~573~~813,~~537~~669.3685 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 9493.~~313926~~533908% Group 2 Senior Percentage 9594.~~207553~~419333% Group 3 Senior Percentage 95.~~707962~~054413% 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 56.~~686074~~466092% Group 2 Junior Percentage 45.~~792447~~580667% Group 3 Junior Percentage 4.~~292038~~945587%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~946281~~982282 5.~~319962~~318329 5.~~870938~~838670 Weighted Average Net Rate 5.~~571280~~607282 4.~~931922~~931267 5.~~620937~~588669 Weighted Average Maturity ~~341~~340 348 349 ~~350~~ Beginning Loan Count 2018 ~~180~~155 4035 Loans Paid In Full 23 2517 56 Ending Loan Count 1815 ~~155~~138 3529 Beginning Scheduled Balance 98,~~979~~765,~~017~~484.6754 7867,~~407~~251,~~579~~554.3568 1815,~~318~~883,~~702~~556.7368 Ending scheduled Balance 87,~~765~~159,~~484~~225.5400 6759,~~251~~527,~~554~~900.6899 1512,~~883~~617,~~556~~919.6825 Record Date 0708/31/2003 0708/31/2003 0708/31/2003 Principal And Interest Constant 6053,~~528~~414.7250 ~~442~~380,~~683~~426.2500 ~~106~~91,~~179~~279.2137 Scheduled Principal 119,~~080~~716.3550 9582,~~078~~371.8108 1613,~~555~~997.9100 Unscheduled Principal 1,~~202~~596,~~452~~543.7804 117,~~060~~641,~~945~~282.8661 23,~~418~~251,~~590~~640.1443 Scheduled Interest 4943,~~448~~698.3700 ~~347~~298,~~604~~054.4492 8977,~~623~~282.3037 Servicing Fees 32,~~118~~739.4521 2521,~~354~~692.3813 3,~~816~~309.4009 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 31.3532 163.5439 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 4640,~~329~~958.9279 ~~322~~276,~~218~~331.7147 8573,~~643~~809.3689 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.~~571281~~607282 4.~~931442~~930708 5.~~610224~~576326

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.~~983624~~908412 6.~~104500~~096311 Weighted Average Net Rate 6.~~643645~~569081 5.~~751051~~744041 Weighted Average Maturity ~~349~~348 ~~349~~348 Beginning Loan Count ~~306~~287 ~~546~~495 Loans Paid In Full 1918 5144 Ending Loan Count ~~287~~269 ~~495~~451 Beginning Scheduled Balance 7670,~~634~~695,~~421~~911.8457 ~~183~~162,~~339~~596,~~721~~507.5947 Ending scheduled Balance 7065,~~695~~327,~~911~~790.5763 ~~162~~144,~~596~~632,~~507~~835.4787 Record Date 0708/31/2003 0708/31/2003 Principal And Interest Constant ~~492~~450,~~950~~914.0125 1976,~~102,341~~034.1912 Scheduled Principal 4643,~~961~~917.6917 ~~169~~150,~~676~~001.7675 Unscheduled Principal 5,~~891~~324,~~548~~203.5877 2017,~~573~~813,~~537~~669.3685 Scheduled Interest ~~445~~406,~~988~~997.3208 ~~932~~826,~~664~~032.4337 Servicing Fees 2119,~~711~~991.7509 5447,~~000~~731.9852 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 1,~~935~~804.5549 21,~~130~~999.4420 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 ~~422~~385,~~341~~201.0250 ~~876~~776,~~533~~301.0165 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.~~613336~~538452 5.~~737107~~729287

Filing Compare · MASTER ADJUSTABLE RATE MORTGAGES TRUST 2003-1