8-K 1 msc03hy1.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 MORGAN STANLEY DEAN WITTER CAPITAL I INC. Mortgage Pass-Through Certificates, Series 2003-HY1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-83986-16 54-2102381 Pooling and Servicing Agreement) (Commission 54-2102382 (State or other File Number) IRS EIN jurisdiction of Incorporation) 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 MORGAN STANLEY DEAN WITTER CAPITAL I INC., Mortgage Pass-Through Certificates, Series 2003-HY1 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-HY1 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. MORGAN STANLEY DEAN WITTER CAPITAL I INC. Mortgage Pass-Through Certificates, Series 2003-HY1 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/2/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-HY1 Trust, relating to the September 25, 2003 distribution. EX-99.1

Morgan Stanley Capital I Inc. Mortgage Pass-Through Certificates Record Date: 78/31/03 Distribution Date: 89/25/03 MSMC Series: 2003-~~HYB1~~HY1 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-1 61746WB74 SEN 3.70000% 3836,~~406~~891,~~476~~403.7307 ~~118~~113,~~419~~748.9749 1,~~515~~655,~~073~~727.6511 A-2 61746WB82 SEN 4.30000% ~~197~~189,~~517~~725,~~107~~375.0224 ~~707~~679,~~769~~849.6325 78,~~791~~515,~~731~~085.7839 A-3 61746WB90 SEN 4.60000% 3332,~~503~~182,~~759~~090.5923 ~~128~~123,~~431~~364.0868 1,~~321~~444,~~669~~367.3692 A-4 61746WC24 SEN 4.20000% 9,~~572~~194,~~502~~882.7492 3332,~~503~~182.7609 ~~377~~412,~~619~~676.8255 A-R MSC03H1AR RES 4.25000% 0.00 1,~~664~~611.2901 0.00 A-X 61746WC65 IO 4.25000% 0.00 1615,~~485~~516.4239 0.00 B-1 61746WC32 SUB 4.25000% 3,307,000.00 11,712.29 0.00 B-2 61746WC40 SUB 4.25000% 2,405,000.00 8,517.71 0.00 B-3 61746WC57 SUB 4.25000% 1,653,000.00 5,854.3837 0.00 B-4 MSC03H1B4 SUB 4.25000% 601,000.00 2,128.54 0.00 B-5 MSC03H1B5 SUB 4.25000% 301,000.00 1,066.04 0.00 B-6 MSC03H1B6 SUB 4.25000% 902,524.55 3,196.44 0.00 Totals ~~288~~277,~~169~~163,~~370~~276.6301 1998,~~038,749~~747.5530 1112,~~006~~027,~~094~~856.6197

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 3635,~~891~~235,~~403~~675.0796 1,~~633~~769,~~493~~475.6260 0.00 A-2 0.00 ~~189~~181,~~725~~210,~~375~~289.2484 89,~~499~~194,~~501~~934.4164 0.00 A-3 0.00 3230,~~182~~737,~~090~~722.2330 1,~~450~~567,~~100~~732.4460 0.00 A-4 0.00 98,~~194~~782,~~882~~206.9237 ~~411~~444,~~123~~858.5864 0.00 A-R 0.00 0.00 1,~~664~~611.2901 0.00 A-X 0.00 0.00 1615,~~485~~516.4239 0.00 B-1 0.00 3,307,000.00 11,712.29 0.00 B-2 0.00 2,405,000.00 8,517.71 0.00 B-3 0.00 1,653,000.00 5,854.3837 0.00 B-4 0.00 601,000.00 2,128.54 0.00 B-5 0.00 301,000.00 1,066.04 0.00 B-6 0.00 902,524.55 3,196.44 0.00 Totals 0.00 ~~277~~265,~~163~~135,~~276~~419.0102 1213,~~044~~026,~~844~~604.1627 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-1 40,121,667.00 3836,~~406~~891,~~476~~403.7307 0.00 1,~~515~~655,~~073~~727.6511 0.00 0.00 A-2 206,338,000.00 ~~197~~189,~~517~~725,~~107~~375.0224 0.00 78,~~791~~515,~~731~~085.7839 0.00 0.00 A-3 35,000,000.00 3332,~~503~~182,~~759~~090.5923 0.00 1,~~321~~444,~~669~~367.3692 0.00 0.00 A-4 10,000,000.00 9,~~572~~194,~~502~~882.7492 0.00 ~~377~~412,~~619~~676.8255 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 A-X 0.00 0.00 0.00 0.00 0.00 0.00 B-1 3,307,000.00 3,307,000.00 0.00 0.00 0.00 0.00 B-2 2,405,000.00 2,405,000.00 0.00 0.00 0.00 0.00 B-3 1,653,000.00 1,653,000.00 0.00 0.00 0.00 0.00 B-4 601,000.00 601,000.00 0.00 0.00 0.00 0.00 B-5 301,000.00 301,000.00 0.00 0.00 0.00 0.00 B-6 902,524.55 902,524.55 0.00 0.00 0.00 0.00 Totals 300,629,291.55 ~~288~~277,~~169~~163,~~370~~276.6301 0.00 1112,~~006~~027,~~094~~856.6197 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-1 1,~~515~~655,~~073~~727.6511 3635,~~891~~235,~~403~~675.0796 0.~~91948829~~87822064 1,~~515~~655,~~073~~727.6511 A-2 78,~~791~~515,~~731~~085.7839 ~~189~~181,~~725~~210,~~375~~289.2484 0.~~91948829~~87822064 78,~~791~~515,~~731~~085.7839 A-3 1,~~321~~444,~~669~~367.3692 3230,~~182~~737,~~090~~722.2330 0.~~91948829~~87822064 1,~~321~~444,~~669~~367.3692 A-4 ~~377~~412,~~619~~676.8255 98,~~194~~782,~~882~~206.9237 0.~~91948829~~87822064 ~~377~~412,~~619~~676.8255 A-R 0.00 0.00 0.00000000 0.00 A-X 0.00 0.00 0.00000000 0.00 B-1 0.00 3,307,000.00 1.00000000 0.00 B-2 0.00 2,405,000.00 1.00000000 0.00 B-3 0.00 1,653,000.00 1.00000000 0.00 B-4 0.00 601,000.00 1.00000000 0.00 B-5 0.00 301,000.00 1.00000000 0.00 B-6 0.00 902,524.55 1.00000000 0.00 Totals 1112,~~006~~027,~~094~~856.6197 ~~277~~265,~~163~~135,~~276~~419.0102 0.~~92194368~~88193475 1112,~~006~~027,~~094~~856.6197

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 40,121,667.00 ~~957~~919.~~25027402~~48829220 0.00000000 3741.~~76198157~~26765496 0.00000000 A-2 206,338,000.00 ~~957~~919.~~25027392~~48829222 0.00000000 3741.~~76198170~~26765496 0.00000000 A-3 35,000,000.00 ~~957~~919.~~25027400~~48829229 0.00000000 3741.~~76198171~~26765486 0.00000000 A-4 10,000,000.00 ~~957~~919.~~25027400~~48829200 0.00000000 3741.~~76198200~~26765500 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 3,307,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 2,405,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 1,653,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 601,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 301,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 902,524.55 1000.00000000 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-1 0.00000000 3741.~~76198157~~26765496 ~~919~~878.~~48829220~~22063724 0.~~91948829~~87822064 3741.~~76198157~~26765496 A-2 0.00000000 3741.~~76198170~~26765496 ~~919~~878.~~48829222~~22063721 0.~~91948829~~87822064 3741.~~76198170~~26765496 A-3 0.00000000 3741.~~76198171~~26765486 ~~919~~878.~~48829229~~22063714 0.~~91948829~~87822064 3741.~~76198171~~26765486 A-4 0.00000000 3741.~~76198200~~26765500 ~~919~~878.~~48829200~~22063700 0.~~91948829~~87822064 3741.~~76198200~~26765500 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 40,121,667.00 3.70000% 3836,~~406~~891,~~476~~403.7307 ~~118~~113,~~419~~748.9749 0.00 0.00 A-2 206,338,000.00 4.30000% ~~197~~189,~~517~~725,~~107~~375.0224 ~~707~~679,~~769~~849.6326 0.00 0.00 A-3 35,000,000.00 4.60000% 3332,~~503~~182,~~759~~090.5923 ~~128~~123,~~431~~364.0868 0.00 0.00 A-4 10,000,000.00 4.20000% 9,~~572~~194,~~502~~882.7492 3332,~~503~~182.7609 0.00 0.00 A-R 100.00 4.25000% 0.00 1,~~664~~611.2901 0.00 0.00 A-X 0.00 4.25000% 4,~~654~~381,~~706~~097.7705 1615,~~485~~516.4239 0.00 0.00 B-1 3,307,000.00 4.25000% 3,307,000.00 11,712.29 0.00 0.00 B-2 2,405,000.00 4.25000% 2,405,000.00 8,517.71 0.00 0.00 B-3 1,653,000.00 4.25000% 1,653,000.00 5,854.38 0.00 0.00 B-4 601,000.00 4.25000% 601,000.00 2,128.54 0.00 0.00 B-5 301,000.00 4.25000% 301,000.00 1,066.04 0.00 0.00 B-6 902,524.55 4.25000% 902,524.55 3,196.44 0.00 0.00 Totals 300,629,291.55 1998,~~038,749~~747.5532 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 A-1 0.00 0.00 ~~118~~113,~~419~~748.9749 0.00 3635,~~891~~235,~~403~~675.0796 A-2 0.00 0.00 ~~707~~679,~~769~~849.6325 0.00 ~~189~~181,~~725~~210,~~375~~289.2484 A-3 0.00 0.00 ~~128~~123,~~431~~364.0868 0.00 3230,~~182~~737,~~090~~722.2330 A-4 0.00 0.00 3332,~~503~~182.7609 0.00 98,~~194~~782,~~882~~206.9237 A-R 0.00 0.00 1,~~664~~611.2901 0.00 0.00 A-X 0.00 0.00 1615,~~485~~516.4239 0.00 4,~~381~~087,~~097~~658.0502 B-1 0.00 0.00 11,712.29 0.00 3,307,000.00 B-2 0.00 0.00 8,517.71 0.00 2,405,000.00 B-3 0.00 0.00 5,854.3837 0.00 1,653,000.00 B-4 0.00 0.00 2,128.54 0.00 601,000.00 B-5 0.00 0.00 1,066.04 0.00 301,000.00 B-6 0.00 0.00 3,196.44 0.00 902,524.55 Totals 0.00 0.00 1998,~~038,749~~747.5530 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-1 40,121,667.00 3.70000% ~~957~~919.~~25027402~~48829220 2.~~95152168~~83508883 0.00000000 0.00000000 A-2 206,338,000.00 4.30000% ~~957~~919.~~25027392~~48829222 3.~~43014680~~29483304 0.00000000 0.00000000 A-3 35,000,000.00 4.60000% ~~957~~919.~~25027400~~48829229 3.~~66945943~~52470514 0.00000000 0.00000000 A-4 10,000,000.00 4.20000% ~~957~~919.~~25027400~~48829200 3.~~35037600~~21820900 0.00000000 0.00000000 A-R 100.00 4.25000% 0.00000000 ~~16642~~16110.~~90000000~~10000000 0.00000000 0.00000000 A-X 0.00 4.25000% ~~871~~820.~~60639970~~37224151 32.~~08693937~~90548589 0.00000000 0.00000000 B-1 3,307,000.00 4.25000% 1000.00000000 3.54166616 0.00000000 0.00000000 B-2 2,405,000.00 4.25000% 1000.00000000 3.54166736 0.00000000 0.00000000 B-3 1,653,000.00 4.25000% 1000.00000000 3.54166969 0.00000000 0.00000000 B-4 601,000.00 4.25000% 1000.00000000 3.54166389 0.00000000 0.00000000 B-5 301,000.00 4.25000% 1000.00000000 3.54166113 0.00000000 0.00000000 B-6 902,524.55 4.25000% 1000.00000000 3.54166543 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-1 0.00000000 0.00000000 2.~~95152168~~83508883 0.00000000 ~~919~~878.~~48829220~~22063724 A-2 0.00000000 0.00000000 3.~~43014680~~29483299 0.00000000 ~~919~~878.~~48829222~~22063721 A-3 0.00000000 0.00000000 3.~~66945943~~52470514 0.00000000 ~~919~~878.~~48829229~~22063714 A-4 0.00000000 0.00000000 3.~~35037600~~21820900 0.00000000 ~~919~~878.~~48829200~~22063700 A-R 0.00000000 0.00000000 ~~16642~~16110.~~90000000~~10000000 0.00000000 0.00000000 A-X 0.00000000 0.00000000 32.~~08693937~~90548589 0.00000000 ~~820~~765.~~37224151~~42499153 B-1 0.00000000 0.00000000 3.54166616 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.54166736 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 3.~~54166969~~54166364 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 3.54166389 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 3.54166113 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 3.54166543 0.00000000 1000.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 1213,~~210~~188,~~048~~845.7178 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~1,804~~0.4800 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1213,~~211~~188,~~853~~845.1978 Withdrawals Reimbursement for Servicer Advances 01,804.0048 Payment of Service Fee ~~167~~160,~~009~~437.03 Payment of Interest and Principal 1213,~~044~~026,~~844~~604.1627 Total Withdrawals (Pool Distribution Amount) 1213,~~211~~188,~~853~~845.1978 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~167~~160,~~009~~437.03 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~167~~160,~~009~~437.03

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 10 0 0 0 10 ~~509,500~~0.00 0.00 0.00 0.00 ~~509,500~~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 10 0 0 0 10 ~~509,500~~0.00 0.00 0.00 0.00 ~~509,500~~0.00 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~149254~~000000% 0.000000% 0.000000% 0.000000% 0.~~149254~~000000% 0.~~183827~~000000% 0.000000% 0.000000% 0.000000% 0.~~183827~~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.~~149254~~000000% 0.000000% 0.000000% 0.000000% 0.~~149254~~000000% 0.~~183827~~000000% 0.000000% 0.000000% 0.000000% 0.~~183827~~000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~1,804~~0.4800

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 100,000.00 0.03326356% 100,000.00 0.~~03607982~~03771658% Fraud 4,591,388.00 1.52725903% 4,591,388.00 1.~~65656434~~73171431% Special Hazard 4,000,000.00 1.33054234% 4,000,000.00 1.~~44319264~~50866301% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description 5/1 CMT ARM Weighted Average Gross Coupon 5.~~021041~~018779% Weighted Average Net Coupon 4.~~325579~~324154% Weighted Average Pass-Through Rate 4.~~325579~~324154% Weighted Average Maturity(Stepdown Calculation ) ~~352~~351 Beginning Scheduled Collateral Loan Count ~~692~~670 Number Of Loans Paid In Full 2221 Ending Scheduled Collateral Loan Count ~~670~~649 Beginning Scheduled Collateral Balance ~~288~~277,~~169~~163,~~371~~276.0746 Ending Scheduled Collateral Balance ~~277~~265,~~163~~135,~~276~~419.4648 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 ~~277~~265,~~163~~135,~~276~~419.4648 Monthly P &I Constant 1,~~205~~159,~~758~~184.5835 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~277~~265,~~163~~135,~~276~~419.4648 Scheduled Principal 0.00 Unscheduled Principal 1112,~~006~~027,~~094~~856.6198

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