8-K 1 thb03003_oct.txt OCTOBER 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): October 27, 2003 THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage Loan Pass-Through Certificates, Series 2003-3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-102489-15 54-2120381 Pooling and Servicing Agreement) (Commission 54-2120382 (State or other File Number) IRS EIN jurisdiction 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 October 27, 2003 a distribution was made to holders of THORNBURG MORTGAGE SECURITIES CORPORATION, Mortgage Loan Pass-Through Certificates, Series 2003-3 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 Loan Pass-Through Certificates, Series 2003-3 Trust, relating to the October 27, 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. THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage Loan Pass-Through Certificates, Series 2003-3 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 11/3/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Pass-Through Certificates, Series 2003-3 Trust, relating to the October 27, 2003 distribution. EX-99.1

Thornburg Mortgage Home Loans, Inc. Mortgage Loan Pass-Through Certificates Record Date: 79/3130/03 Distribution Date: 810/2527/03 THB Series: 2003-3 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution R-I 0.00000% 0.00 0.00 0.00 A1 885220DN0 SEN 2.~~87683~~75692% ~~203~~197,~~127~~425,~~491~~140.6440 ~~487~~453,~~836~~571.4535 12,~~958~~101,~~594~~939.9317 R 885220DV2 SEN 2.~~87312~~87315% 0.00 0.00 0.00 A2 885220DP5 SEN 4.~~10896~~08391% ~~112~~100,~~132~~678,~~932~~279.7193 ~~384~~342,~~641~~634.4206 61,~~031~~293,~~885~~550.8542 A3 885220DQ3 SEN 4.~~64970~~62320% ~~304~~263,~~135~~725,~~002~~663.9497 1,~~180~~016,~~543~~046.5514 2411,~~566~~007,~~896~~435.9362 A4 885220DR1 SEN 5.~~12893~~12413% 9491,~~696~~809,~~255~~396.9771 ~~405~~392,~~462~~036.5700 ~~567~~2,~~565~~501,026.7086 B1 885220DS9 SUB 4.~~13276~~08292% 7,~~614~~609,~~371~~667.6821 2625,~~270~~891.3341 2,~~355~~331.0261 B2 885220DT7 SUB 4.~~13276~~08292% 5,~~710~~707,~~528~~000.9171 19,~~701~~417.8871 1,~~766~~748.1863 B3 885220DU4 SUB 4.~~13276~~08292% 4,~~568~~565,~~223~~400.2582 15,~~760~~533.8249 1,~~412~~398.8985 B4 885220DK6 SUB 4.~~13276~~08292% 1,~~141~~140,~~306~~601.2712 3,~~937~~880.6282 ~~352~~349.9948 B5 885220DL4 SUB 4.~~13276~~08292% 760,~~537~~067.7182 2,~~623~~586.9308 ~~235~~232.2289 B6 885220DM2 SUB 4.~~13276~~08292% 1,~~909~~907,~~019~~840.6215 6,~~586~~491.3031 ~~590~~584.4357 Totals ~~735~~675,~~795~~329,~~670~~058.7084 2,~~533~~278,~~364~~088.8737 3316,~~131~~910,~~656~~598.1410

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses R-I 0.00 0.00 0.00 0.00 A1 0.00 ~~201~~195,~~168~~323,~~896~~201.7224 2,~~446~~555,~~431~~510.3852 0.00 R 0.00 0.00 0.00 0.00 A2 0.00 ~~106~~99,~~101~~384,~~046~~729.8651 61,~~416~~636,~~527~~184.2748 0.00 A3 0.00 ~~279~~252,~~568~~718,~~106~~228.0135 2512,~~747~~023,~~440~~481.4876 0.00 A4 0.00 9489,~~128~~308,~~690~~369.2685 ~~973~~2,~~028~~893,062.2786 0.00 B1 0.00 7,~~612~~607,~~016~~335.6659 28,~~625~~223.3502 0.00 B2 0.00 5,~~708~~705,~~762~~252.7308 21,~~468~~166.0634 0.00 B3 0.00 4,~~566~~564,~~810~~001.3697 1716,~~173~~932.7134 0.00 B4 0.00 1,140,~~953~~251.2864 4,~~290~~230.6130 0.00 B5 0.00 ~~760~~759,~~302~~834.4994 2,~~859~~818.1597 0.00 B6 0.00 1,~~908~~907,~~429~~255.1959 7,~~176~~075.7388 0.00 Totals 0.00 ~~702~~658,~~664~~418,~~014~~460.5676 3519,~~665~~188,~~021~~686.0147 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) R-I 0.00 0.00 0.00 0.00 0.00 0.00 A1 206,768,000.00 ~~203~~197,~~127~~425,~~491~~140.6440 7,~~463~~634.7221 12,~~951~~094,~~131~~304.2196 0.00 0.00 R 100.00 0.00 0.00 0.00 0.00 0.00 A2 115,273,000.00 ~~112~~100,~~132~~678,~~932~~279.7193 2017,~~372~~630.3481 61,~~011~~275,~~513~~919.5161 0.00 0.00 A3 321,254,000.00 ~~304~~263,~~135~~725,~~002~~663.9497 ~~165~~141,~~062~~637.5094 2410,~~401~~865,~~834~~797.4368 0.00 0.00 A4 96,961,000.00 9491,~~696~~809,~~255~~396.9771 2524,~~521~~847.0213 ~~542~~2,~~044~~476,179.6873 0.00 0.00 B1 7,619,000.00 7,~~614~~609,~~371~~667.6821 2,~~355~~331.0261 0.00 0.00 0.00 B2 5,714,000.00 5,~~710~~707,~~528~~000.9171 1,~~766~~748.1863 0.00 0.00 0.00 B3 4,571,000.00 4,~~568~~565,~~223~~400.2582 1,~~412~~398.8985 0.00 0.00 0.00 B4 1,142,000.00 1,~~141~~140,~~306~~601.2712 ~~352~~349.9948 0.00 0.00 0.00 B5 761,000.00 760,~~537~~067.7182 ~~235~~232.2289 0.00 0.00 0.00 B6 1,910,180.00 1,~~909~~907,~~019~~840.6215 ~~590~~584.4357 0.00 0.00 0.00 Totals 761,973,280.00 ~~735~~675,~~795~~329,~~670~~058.7084 ~~225~~198,~~132~~396.3112 3216,~~906~~712,~~523~~201.8398 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 R-I 0.00 0.00 0.00000000 0.00 A1 12,~~958~~101,~~594~~939.9317 ~~201~~195,~~168~~323,~~896~~201.7224 0.~~97292084~~94464908 12,~~958~~101,~~594~~939.9317 R 0.00 0.00 0.00000000 0.00 A2 61,~~031~~293,~~885~~550.8542 ~~106~~99,~~101~~384,~~046~~729.8651 0.~~92043277~~86216833 61,~~031~~293,~~885~~550.8542 A3 2411,~~566~~007,~~896~~435.9362 ~~279~~252,~~568~~718,~~106~~228.0135 0.~~87024008~~78666173 2411,~~566~~007,~~896~~435.9362 A4 ~~567~~2,~~565~~501,026.7086 9489,~~128~~308,~~690~~369.2685 0.~~97078919~~92107517 ~~567~~2,~~565~~501,026.7086 B1 2,~~355~~331.0261 7,~~612~~607,~~016~~335.6659 0.~~99908343~~99846904 2,~~355~~331.0261 B2 1,~~766~~748.1863 5,~~708~~705,~~762~~252.7308 0.~~99908343~~99846904 1,~~766~~748.1863 B3 1,~~412~~398.8985 4,~~566~~564,~~810~~001.3697 0.~~99908343~~99846904 1,~~412~~398.8985 B4 ~~352~~349.9948 1,140,~~953~~251.2864 0.~~99908343~~99846904 ~~352~~349.9948 B5 ~~235~~232.2289 ~~760~~759,~~302~~834.4994 0.~~99908343~~99846904 ~~235~~232.2289 B6 ~~590~~584.4357 1,~~908~~907,~~429~~255.1959 0.~~99908343~~99846904 ~~590~~584.4357 Totals 3316,~~131~~910,~~656~~598.1410 ~~702~~658,~~664~~418,~~014~~460.5676 0.~~92216359~~86409652 3316,~~131~~910,~~656~~598.1410

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A1 206,768,000.00 ~~982~~954.~~39326995~~81477018 0.~~03609707~~03692162 910.~~43633062~~12876731 0.00000000 R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A2 115,273,000.00 ~~972~~873.~~75973307~~38995194 0.~~17673124~~15294831 5211.~~15023041~~06867705 0.00000000 A3 321,254,000.00 ~~946~~820.~~71195671~~92569733 0.~~51380683~~44089082 7533.~~95807190~~82307358 0.00000000 A4 96,961,000.00 ~~976~~946.~~64273234~~86932591 0.~~26320913~~25625901 525.~~59033715~~53789390 0.00000000 B1 7,619,000.00 ~~999~~998.~~39252920~~77506366 0.~~30909831~~30602573 0.00000000 0.00000000 B2 5,714,000.00 ~~999~~998.~~39252888~~77506300 0.~~30909695~~30602555 0.00000000 0.00000000 B3 4,571,000.00 ~~999~~998.~~39252899~~77506454 0.~~30909867~~30602713 0.00000000 0.00000000 B4 1,142,000.00 ~~999~~998.~~39253065~~77506130 0.~~30909807~~30602452 0.00000000 0.00000000 B5 761,000.00 ~~999~~998.~~39252300~~77505913 0.~~30909330~~30603154 0.00000000 0.00000000 B6 1,910,180.00 ~~999~~998.~~39252845~~77506308 0.~~30909652~~30602875 0.00000000 0.00000000 (2) All Classes Are Per $1000 Denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 910.~~47242770~~16568894 ~~972~~944.~~92084230~~64908129 0.~~97292084~~94464908 910.~~47242770~~16568894 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A2 0.00000000 5211.~~32696165~~22162536 ~~920~~862.~~43277142~~16832658 0.~~92043277~~86216833 5211.~~32696165~~22162536 A3 0.00000000 7634.~~47187873~~26396440 ~~870~~786.~~24007798~~66173293 0.~~87024008~~78666173 7634.~~47187873~~26396440 A4 0.00000000 525.~~85354627~~79415291 ~~970~~921.~~78918596~~07517301 0.~~97078919~~92107517 525.~~85354627~~79415291 B1 0.00000000 0.~~30909831~~30602573 ~~999~~998.~~08343090~~46903662 0.~~99908343~~99846904 0.~~30909831~~30602573 B2 0.00000000 0.~~30909695~~30602555 ~~999~~998.~~08343192~~46903745 0.~~99908343~~99846904 0.~~30909695~~30602555 B3 0.00000000 0.~~30909867~~30602713 ~~999~~998.~~08343032~~46903741 0.~~99908343~~99846904 0.~~30909867~~30602713 B4 0.00000000 0.~~30909807~~30602452 ~~999~~998.~~08343257~~46903678 0.~~99908343~~99846904 0.~~30909807~~30602452 B5 0.00000000 0.~~30909330~~30603154 ~~999~~998.~~08342970~~46904074 0.~~99908343~~99846904 0.~~30909330~~30603154 B6 0.00000000 0.~~30909652~~30602875 ~~999~~998.~~08343193~~46903957 0.~~99908343~~99846904 0.~~30909652~~30602875 (3) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, 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 R-I 0.00 0.00000% 0.00 0.00 0.00 0.00 A1 206,768,000.00 2.~~87683~~75692% ~~203~~197,~~127~~425,~~491~~140.6440 ~~486~~453,~~969~~571.9136 0.00 0.00 R 100.00 2.~~87312~~87315% 0.00 0.00 0.00 0.00 A2 115,273,000.00 4.~~10896~~08391% ~~112~~100,~~132~~678,~~932~~279.7193 ~~383~~342,~~958~~634.1806 0.00 0.00 A3 321,254,000.00 4.~~64970~~62320% ~~304~~263,~~135~~725,~~002~~663.9497 1,~~178~~016,~~446~~046.5614 0.00 0.00 A4 96,961,000.00 5.~~12893~~12413% 9491,~~696~~809,~~255~~396.9771 ~~404~~392,~~742~~036.3500 0.00 0.00 B1 7,619,000.00 4.~~13276~~08292% 7,~~614~~609,~~371~~667.6821 2625,~~223~~891.6641 0.00 0.00 B2 5,714,000.00 4.~~13276~~08292% 5,~~710~~707,~~528~~000.9171 19,~~666~~417.8971 0.00 0.00 B3 4,571,000.00 4.~~13276~~08292% 4,~~568~~565,~~223~~400.2582 15,~~732~~533.8249 0.00 0.00 B4 1,142,000.00 4.~~13276~~08292% 1,~~141~~140,~~306~~601.2712 3,~~930~~880.6282 0.00 0.00 B5 761,000.00 4.~~13276~~08292% 760,~~537~~067.7182 2,~~619~~586.2708 0.00 0.00 B6 1,910,180.00 4.~~13276~~08292% 1,~~909~~907,~~019~~840.6215 6,~~574~~491.6131 0.00 0.00 Totals 761,973,280.00 2,~~528~~278,~~864~~088.8738 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 R-I 0.00 0.00 0.00 0.00 0.00 A1 0.00 0.00 ~~487~~453,~~836~~571.4535 0.00 ~~201~~195,~~168~~323,~~896~~201.7224 R 0.00 0.00 0.00 0.00 0.00 A2 0.00 0.00 ~~384~~342,~~641~~634.4206 0.00 ~~106~~99,~~101~~384,~~046~~729.8651 A3 0.0001 0.00 1,~~180~~016,~~543~~046.5514 0.00 ~~279~~252,~~568~~718,~~106~~228.0135 A4 0.00 0.00 ~~405~~392,~~462~~036.5700 0.00 9489,~~128~~308,~~690~~369.2685 B1 0.00 0.00 2625,~~270~~891.3341 0.00 7,~~612~~607,~~016~~335.6659 B2 0.00 0.00 19,~~701~~417.8871 0.00 5,~~708~~705,~~762~~252.7308 B3 0.00 0.00 15,~~760~~533.8249 0.00 4,~~566~~564,~~810~~001.3697 B4 0.00 0.00 3,~~937~~880.6282 0.00 1,140,~~953~~251.2864 B5 0.00 0.00 2,~~623~~586.9308 0.00 ~~760~~759,~~302~~834.4994 B6 0.00 0.00 6,~~586~~491.3031 0.00 1,~~908~~907,~~429~~255.1959 Totals 0.0001 0.00 2,~~533~~278,~~364~~088.8737 0.00 (4) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, 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 R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 A1 206,768,000.00 2.~~87683~~75692% ~~982~~954.~~39326995~~81477018 2.~~35515123~~19362455 0.00000000 0.00000000 R 100.00 2.~~87312~~87315% 0.00000000 0.00000000 0.00000000 0.00000000 A2 115,273,000.00 4.~~10896~~08391% ~~972~~873.~~75973307~~38995194 32.~~33085961~~97237046 0.00000000 0.00000000 A3 321,254,000.00 4.~~64970~~62320% ~~946~~820.~~71195671~~92569733 3.~~66827047~~16275016 0.00000000 0.00000000 A4 96,961,000.00 5.~~12893~~12413% ~~976~~946.~~64273234~~86932591 4.~~17427987~~04323388 0.00000000 0.00000000 B1 7,619,000.00 4.~~13276~~08292% ~~999~~998.~~39252920~~77506366 3.~~44187689~~39826880 0.00000000 0.00000000 B2 5,714,000.00 4.~~13276~~08292% ~~999~~998.~~39252888~~77506300 3.~~44187784~~39826916 0.00000000 0.00000000 B3 4,571,000.00 4.~~13276~~08292% ~~999~~998.~~39252899~~77506454 3.~~44187705~~39826953 0.00000000 0.00000000 B4 1,142,000.00 4.~~13276~~08292% ~~999~~998.~~39253065~~77506130 3.~~44187391~~39826620 0.00000000 0.00000000 B5 761,000.00 4.~~13276~~08292% ~~999~~998.~~39252300~~77505913 3.~~44187911~~39826544 0.00000000 0.00000000 B6 1,910,180.00 4.~~13276~~08292% ~~999~~998.~~39252845~~77506308 3.~~44187982~~39827137 0.00000000 0.00000000 (5) All Classes Are Per $1000 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 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 0.00000000 2.~~35934211~~19362450 0.00000000 ~~972~~944.~~92084230~~64908129 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A2 0.00000000 0.00000000 32.~~33678676~~97237046 0.00000000 ~~920~~862.~~43277142~~16832658 A3 0.~~00000000~~00000003 0.00000000 3.~~67479798~~16275016 0.00000000 ~~870~~786.~~24007798~~66173293 A4 0.00000000 0.00000000 4.~~18170780~~04323388 0.00000000 ~~970~~921.~~78918596~~07517301 B1 0.00000000 0.00000000 3.~~44800236~~39826880 0.00000000 ~~999~~998.~~08343090~~46903662 B2 0.00000000 0.00000000 3.~~44800140~~39826916 0.00000000 ~~999~~998.~~08343192~~46903745 B3 0.00000000 0.00000000 3.~~44800263~~39826953 0.00000000 ~~999~~998.~~08343032~~46903741 B4 0.00000000 0.00000000 3.~~44800350~~39826620 0.00000000 ~~999~~998.~~08343257~~46903678 B5 0.00000000 0.00000000 3.~~44800263~~39826544 0.00000000 ~~999~~998.~~08342970~~46904074 B6 0.00000000 0.00000000 3.~~44799966~~39827137 0.00000000 ~~999~~998.~~08343193~~46903957 (6) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy,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 3519,~~860~~400,~~407~~006.6671 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 189,~~595~~840.2508 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~4,500~~0.00 Total Deposits 3519,~~883~~409,~~502~~846.9179 Withdrawals Reimbursement for Servicer Advances 021,923.0054 Payment of Service Fee ~~218~~199,~~481~~236.9078 Payment of Interest and Principal 3519,~~665~~188,~~021~~686.0147 Total Withdrawals (Pool Distribution Amount) 3519,~~883~~409,~~502~~846.9179 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~205~~187,~~728~~531.1106 Master Servicing Fee- Wells Fargo 1211,~~263~~255.2750 Trustee Fee - Deutsche Bank ~~490~~450.5222 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~218~~199,~~481~~236.9078

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 1 0 0 0 1 ~~892~~298,~~500~~900.00 0.00 0.00 0.00 ~~892~~298,~~500~~900.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1 0 0 0 1 ~~892~~298,~~500~~900.00 0.00 0.00 0.00 ~~892~~298,~~500~~900.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~265252~~271739% 0.000000% 0.000000% 0.000000% 0.~~265252~~271739% 0.~~430665~~148418% 0.000000% 0.000000% 0.000000% 0.~~430665~~148418% 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.~~265252~~271739% 0.000000% 0.000000% 0.000000% 0.~~265252~~271739% 0.~~430665~~148418% 0.000000% 0.000000% 0.000000% 0.~~430665~~148418% 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 73 0 0 0 7 3 1,~~426~~164,~~530~~290.2848 0.00 0.00 0.00 31,~~426~~164,~~530~~290.2848 60 Days 01 0 0 0 01 0647,134.0053 0.00 0.00 0.00 0647,134.0053 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 74 0 0 0 74 31,~~426~~811,~~530~~425.2801 0.00 0.00 0.00 31,~~426~~811,~~530~~425.2801 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~272727~~598802% 0.000000% 0.000000% 0.000000% 10.~~272727~~598802% 10.~~185258~~444008% 0.000000% 0.000000% 0.000000% 10.~~185258~~444008% 60 Days 0.~~000000~~199601% 0.000000% 0.000000% 0.000000% 0.~~000000~~199601% 0.~~000000~~246788% 0.000000% 0.000000% 0.000000% 0.~~000000~~246788% 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 10.~~272727~~798403% 0.000000% 0.000000% 0.000000% 10.~~272727~~798403% 10.~~185258~~690796% 0.000000% 0.000000% 0.000000% 10.~~185258~~690796% 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 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%

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~480614~~401988% Weighted Average Net Coupon 4.~~145094~~068762% Weighted Average Pass-Through Rate 4.~~124294~~047962% Weighted Average Maturity(Stepdown Calculation ) ~~357~~355 Beginning Scheduled Collateral Loan Count 1,~~388~~289 Number Of Loans Paid In Full 5133 Ending Scheduled Collateral Loan Count 1,~~337~~256 Beginning Scheduled Collateral Balance ~~735~~675,~~795~~329,~~671~~059.0620 Ending Scheduled Collateral Balance ~~702~~658,~~664~~418,~~014~~461.9211 Ending Actual Collateral Balance at 3130-~~Jul~~Sep-2003 ~~702~~658,~~821~~560,~~302~~637.3889 Monthly P &I Constant 2,~~972~~675,~~479~~721.0424 Special Servicing Fee 0.00 Prepayment Penalties ~~4,500~~0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 3519,~~579~~108,~~060~~239.4162 Ending Scheduled Balance for Premium Loans ~~702~~658,~~664~~418,~~014~~461.9211 Scheduled Principal ~~225~~198,~~132~~396.3111 Unscheduled Principal 3216,~~906~~712,~~523~~201.8398

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~269042~~149322 4.~~397885~~373885 54.~~014899~~981340 Weighted Average Net Rate 2.~~897633~~777722 4.~~129760~~104709 4.~~670498~~643996 Weighted Average Maturity 354 356 ~~358~~355 ~~357~~ Beginning Loan Count ~~381~~371 ~~244~~225 ~~586~~523 Loans Paid In Full 43 103 3622 Ending Loan Count ~~377~~368 ~~234~~222 ~~550~~501 Beginning Scheduled Balance ~~209~~203,~~193~~490,~~094~~291.7394 ~~115~~104,~~514~~058,~~247~~354.4809 ~~313~~273,~~549~~129,~~304~~789.2690 Ending scheduled Balance ~~207~~201,~~234~~388,~~276~~118.9324 ~~109~~102,~~481~~764,~~747~~211.3175 ~~288~~262,~~977~~117,~~297~~303.9365 Record Date 0709/3130/2003 0709/3130/2003 0709/3130/2003 Principal And Interest Constant ~~577~~541,~~570~~915.77 ~~444~~397,~~335~~505.3346 1,~~480~~280,~~520~~482.3111 Scheduled Principal 7,~~686~~868.5974 2018,~~986~~222.6673 ~~170~~146,~~171~~688.9057 Unscheduled Principal 12,~~951~~094,~~131~~304.2196 61,~~011~~275,~~513~~919.5161 2410,~~401~~865,~~834~~797.4368 Scheduled Interest ~~569~~534,~~884~~047.1803 ~~423~~379,~~348~~282.6773 1,~~310~~133,~~348~~793.4154 Servicing Fees 6463,~~746~~014.8323 2523,~~810~~341.1972 8976,~~988~~782.9524 Master Servicing Fees 3,~~486~~391.5652 1,~~925~~734.2330 54,~~225~~552.8317 Trustee Fee ~~139~~135.4667 7769.0138 ~~209~~182.0206 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 ~~501~~467,~~511~~505.3361 ~~395~~354,~~536~~137.2433 1,~~214~~052,~~924~~277.6107 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 2.~~876833~~756922 4.~~108961~~083908 4.~~649698~~623196

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~459544~~454187 4.~~480614~~401988 Weighted Average Net Rate 5.~~149734~~144929 4.~~145094~~068762 Weighted Average Maturity ~~356~~354 ~~357~~355 Beginning Loan Count ~~177~~170 1,~~388~~289 Loans Paid In Full 15 5133 Ending Loan Count ~~176~~165 1,~~337~~256 Beginning Scheduled Balance 9794,~~539~~650,~~024~~623.5927 ~~735~~675,~~795~~329,~~671~~059.0620 Ending scheduled Balance 9692,~~970~~148,~~692~~827.7547 ~~702~~658,~~664~~418,~~014~~461.9211 Record Date 0709/3130/2003 0709/3130/2003 Principal And Interest Constant ~~470~~455,~~052~~817.6390 2,~~972~~675,~~479~~721.0424 Scheduled Principal 2625,~~287~~616.1607 ~~225~~198,~~132~~396.3111 Unscheduled Principal ~~542~~2,~~044~~476,179.6873 3216,~~906~~712,~~523~~201.8398 Scheduled Interest ~~443~~430,~~765~~201.4783 2,~~747~~477,~~346~~325.7313 Servicing Fees 2524,~~182~~392.1487 ~~205~~187,~~728~~531.1106 Master Servicing Fees 1,~~625~~577.6551 1211,~~263~~255.2750 Trustee Fee 6563.0311 ~~490~~450.5222 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 ~~416~~404,~~892~~168.6534 2,~~528~~278,~~864~~088.8335 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 5.~~128934~~124129 4.~~124294~~047962

Filing Compare · STRUCTURED ASSET SECURITIES CORP THORN MORT SEC TR 2003-3