8-K 1 ffm03ff1_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 FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2003-FF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-104153-02 54-2110371 Pooling and Servicing Agreement) (Commission 54-2110372 (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 FIRST FRANKLIN MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2003-FF1 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 Certificates, Series 2003-FF1 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2003-FF1 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/30/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2003-FF1 Trust, relating to the October 27, 2003 distribution. EX-99.1

First Franklin Mortgage Loan Trust ~~Asset~~Mortgage ~~Backed~~Pass-Through Certificates Record Date: 89/3130/03 Distribution Date: 910/2527/03 FFM Series: 2003-FF1 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 32027NBX8 SEN 2.23400% ~~383~~375,~~471~~922,~~161~~454.1406 ~~713~~699,~~895~~842.4730 7,~~548~~087,~~707~~845.0897 A-2 32027NBY6 SEN 2.26500% ~~126~~124,~~742~~631,~~158~~554.9608 ~~239~~235,~~225~~242.8306 2,~~110~~020,~~604~~104.8890 M-1 32027NBZ3 MEZ 2.68800% 27,140,000.00 60,793.60 0.00 M-2 32027NCA7 MEZ 2.~~86000~~87000% 25,633,000.00 6365,~~128~~392.3863 0.00 M-3F 32027NCB5 MEZ 5.59200% 8,500,000.00 39,610.00 0.00 M-3V 32027NCC3 MEZ 3.~~61000~~62000% 5,070,000.00 1516,~~760~~314.6613 0.00 M-4 32027NCD1 MEZ 4.~~11000~~12000% 3,920,000.00 1314,~~873~~355.5391 0.00 R-1 FFM3FF1R1 SEN 0.00000% 0.00 0.00 0.00 C FFM03FF1C SEN 0.00000% 5,126,520.77 21,~~037~~967,~~395~~398.1892 0.00 P FFM03FF1P SEN 0.00000% 100.00 ~~151~~178,~~271~~824.6440 0.00 DIV_CERT SEN 0.00000% 0.00 ~~323~~1,170.6391 0.00 Totals ~~585~~575,~~602~~943,~~940~~628.8791 3,~~335~~278,~~277~~944.9286 9,~~659~~107,~~311~~950.9687

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~375~~368,~~922~~834,~~454~~608.0609 87,~~262~~787,~~602~~688.5527 0.00 A-2 0.00 ~~124~~122,~~631~~611,~~554~~449.0819 2,~~349~~255,~~830~~346.7196 0.00 M-1 0.00 27,140,000.00 60,793.60 0.00 M-2 0.00 25,633,000.00 6365,~~128~~392.3863 0.00 M-3F 0.00 8,500,000.00 39,610.00 0.00 M-3V 0.00 5,070,000.00 1516,~~760~~314.6613 0.00 M-4 0.00 3,920,000.00 1314,~~873~~355.5391 0.00 R-1 0.00 0.00 0.00 0.00 C 0.00 5,126,520.77 21,~~037~~967,~~395~~398.1892 0.00 P 0.00 100.00 ~~151~~178,~~271~~824.6440 0.00 DIV_CERT 0.00 0.0001 ~~323~~1,170.6391 0.00 Totals 0.00 ~~575~~566,~~943~~835,~~628~~678.9106 12,~~994~~386,~~589~~895.8873 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-1 394,105,000.00 ~~383~~375,~~471~~922,~~161~~454.1406 0.00 7,~~548~~087,~~707~~845.0897 0.00 0.00 A-2 133,626,000.00 ~~126~~124,~~742~~631,~~158~~554.9608 0.00 2,~~110~~020,~~604~~104.8890 0.00 0.00 M-1 27,140,000.00 27,140,000.00 0.00 0.00 0.00 0.00 M-2 25,633,000.00 25,633,000.00 0.00 0.00 0.00 0.00 M-3F 8,500,000.00 8,500,000.00 0.00 0.00 0.00 0.00 M-3V 5,070,000.00 5,070,000.00 0.00 0.00 0.00 0.00 M-4 3,920,000.00 3,920,000.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 C 5,125,991.09 5,126,520.77 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 DIV_CERT 0.00 0.00 0.00 0.00 0.00 0.00 Totals 603,120,091.09 ~~585~~575,~~602~~943,~~940~~628.8791 0.00 9,~~659~~107,~~311~~950.9687 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 7,~~548~~087,~~707~~845.0897 ~~375~~368,~~922~~834,~~454~~608.0609 0.~~95386370~~93587904 7,~~548~~087,~~707~~845.0897 A-2 2,~~110~~020,~~604~~104.8890 ~~124~~122,~~631~~611,~~554~~449.0819 0.~~93268940~~91757180 2,~~110~~020,~~604~~104.8890 M-1 0.00 27,140,000.00 1.00000000 0.00 M-2 0.00 25,633,000.00 1.00000000 0.00 M-3F 0.00 8,500,000.00 1.00000000 0.00 M-3V 0.00 5,070,000.00 1.00000000 0.00 M-4 0.00 3,920,000.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 C 0.00 5,126,520.77 1.00010333 0.00 P 0.00 100.00 1.00000000 0.00 DIV_CERT 0.00 0.0001 0.00000000 0.00 Totals 9,~~659~~107,~~311~~950.9687 ~~575~~566,~~943~~835,~~628~~678.9106 0.~~95494021~~93983883 9,~~659~~107,~~311~~950.9687

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 394,105,000.00 ~~973~~953.~~01775197~~86370145 0.00000000 1917.~~15405052~~98466391 0.00000000 A-2 133,626,000.00 ~~948~~932.~~48426923~~68940236 0.00000000 15.~~79486687~~11760361 0.00000000 M-1 27,140,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 25,633,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3F 8,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3V 5,070,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 3,920,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 5,125,991.09 1000.10333221 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 DIV_CERT 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination.

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 1917.~~15405052~~98466391 ~~953~~935.~~86370145~~87903754 0.~~95386370~~93587904 1917.~~15405052~~98466391 A-2 0.00000000 15.~~79486687~~11760361 ~~932~~917.~~68940236~~57179883 0.~~93268940~~91757180 15.~~79486687~~11760361 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3V 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 1,000.10333221 1.00010333 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 DIV_CERT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 A-1 394,105,000.00 2.23400% ~~383~~375,~~471~~922,~~161~~454.1406 ~~713~~699,~~895~~842.4830 0.00 0.00 A-2 133,626,000.00 2.26500% ~~126~~124,~~742~~631,~~158~~554.9608 ~~239~~235,~~225~~242.8306 0.00 0.00 M-1 27,140,000.00 2.68800% 27,140,000.00 60,793.60 0.00 0.00 M-2 25,633,000.00 2.~~86000~~87000% 25,633,000.00 6365,~~128~~392.3863 0.00 0.00 M-3F 8,500,000.00 5.59200% 8,500,000.00 39,610.00 0.00 0.00 M-3V 5,070,000.00 3.~~61000~~62000% 5,070,000.00 1516,~~760~~314.6613 0.00 0.00 M-4 3,920,000.00 4.~~11000~~12000% 3,920,000.00 1314,~~873~~355.5391 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 C 5,125,991.09 0.00000% 5,126,520.77 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 DIV_CERT 0.00 0.00000% 0.00 01,170.0091 0.00 0.00 Totals 603,120,091.09 1,~~146~~132,~~287~~721.4854 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 ~~713~~699,~~895~~842.4730 0.00 ~~375~~368,~~922~~834,~~454~~608.0609 A-2 0.00 0.00 ~~239~~235,~~225~~242.8306 0.00 ~~124~~122,~~631~~611,~~554~~449.0819 M-1 0.00 0.00 60,793.60 0.00 27,140,000.00 M-2 0.00 0.00 6365,~~128~~392.3863 0.00 25,633,000.00 M-3F 0.00 0.00 39,610.00 0.00 8,500,000.00 M-3V 0.00 0.00 1516,~~760~~314.6613 0.00 5,070,000.00 M-4 0.00 0.00 1314,~~873~~355.5391 0.00 3,920,000.00 R-1 0.00 0.00 0.00 0.00 0.00 C 0.00 0.00 21,~~037~~967,~~395~~398.1892 0.00 5,126,520.77 P 0.00 0.00 ~~151~~178,~~271~~824.6440 0.00 100.00 DIV_CERT 0.00 0.00 ~~323~~1,170.6391 0.00 0.0001 Totals 0.00 0.00 3,~~335~~278,~~277~~944.9286 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 A-1 394,105,000.00 2.23400% ~~973~~953.~~01775197~~86370145 1.~~81143472~~77577625 0.00000000 0.00000000 A-2 133,626,000.00 2.26500% ~~948~~932.~~48426923~~68940236 1.~~79026410~~76045126 0.00000000 0.00000000 M-1 27,140,000.00 2.68800% 1000.00000000 2.24000000 0.00000000 0.00000000 M-2 25,633,000.00 2.~~86000~~87000% 1000.00000000 2.~~46277767~~55111107 0.00000000 0.00000000 M-3F 8,500,000.00 5.59200% 1000.00000000 4.66000000 0.00000000 0.00000000 M-3V 5,070,000.00 3.~~61000~~62000% 1000.00000000 3.~~10861144~~21777712 0.00000000 0.00000000 M-4 3,920,000.00 4.~~11000~~12000% 1000.00000000 3.~~53916582~~66222194 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 C 5,125,991.09 0.00000% 1000.10333221 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 DIV_CERT 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 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 1.~~81143469~~77577625 0.00000000 ~~953~~935.~~86370145~~87903754 A-2 0.00000000 0.00000000 1.~~79026410~~76045126 0.00000000 ~~932~~917.~~68940236~~57179883 M-1 0.00000000 0.00000000 2.24000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~46277767~~55111107 0.00000000 1000.00000000 M-3F 0.00000000 0.00000000 4.66000000 0.00000000 1000.00000000 M-3V 0.00000000 0.00000000 3.~~10861144~~21777712 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~53916582~~66222194 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 ~~397~~383.~~46366005~~80849390 0.00000000 1000.10333221 P 0.00000000 0.00000000 ~~1512716~~1788244.~~40000000~~00000000 0.00000000 1000.00000000 DIV_CERT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 1312,~~100~~460,~~373~~886.5358 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~151~~178,~~271~~824.6440 Total Deposits 1312,~~251~~639,~~645~~710.1798 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~257~~252,~~055~~815.3025 Payment of Interest and Principal 12,~~994~~386,~~589~~895.8773 Total Withdrawals (Pool Distribution Amount) 1312,~~251~~639,~~645~~710.1798 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~244~~239,~~001~~976.2650 Back-up Master Servicing Fee 9,~~760~~599.0506 Wells Fargo 3,~~293~~239.9969 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~257~~252,~~055~~815.3025

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 4448 0 0 0 4448 6,~~210~~374,~~042~~488.4203 0.00 0.00 0.00 6,~~210~~374,~~042~~488.4203 60 Days 17 0 0 0 17 21,~~021~~809,~~368~~260.9207 0.00 0.00 0.00 21,~~021~~809,~~368~~260.9207 90 Days 2618 0 0 0 2618 42,~~156~~250,~~381~~447.9061 0.00 0.00 0.00 42,~~156~~250,~~381~~447.9061 120 Days 722 0 0 0 722 ~~744~~3,~~145~~679,355.1665 0.00 0.00 0.00 ~~744~~3,~~145~~679,355.1665 150 Days 05 0 0 0 05 0536,028.0016 0.00 0.00 0.00 0536,028.0016 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 94110 0 0 0 94110 1314,~~131~~649,~~938~~579.4052 0.00 0.00 0.00 1314,~~131~~649,~~938~~579.4052 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 1.~~289944~~428146% 0.000000% 0.000000% 0.000000% 1.~~289944~~428146% 1.~~078238~~124574% 0.000000% 0.000000% 0.000000% 1.~~078238~~124574% 60 Days 0.~~498388~~505802% 0.000000% 0.000000% 0.000000% 0.~~498388~~505802% 0.~~350967~~319186% 0.000000% 0.000000% 0.000000% 0.~~350967~~319186% 90 Days 0.~~762240~~535555% 0.000000% 0.000000% 0.000000% 0.~~762240~~535555% 0.~~721665~~397019% 0.000000% 0.000000% 0.000000% 0.~~721665~~397019% 120 Days 0.~~205218~~654567% 0.000000% 0.000000% 0.000000% 0.~~205218~~654567% 0.~~129205~~649104% 0.000000% 0.000000% 0.000000% 0.~~129205~~649104% 150 Days 0.~~000000~~148765% 0.000000% 0.000000% 0.000000% 0.~~000000~~148765% 0.~~000000~~094565% 0.000000% 0.000000% 0.000000% 0.~~000000~~094565% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 23.~~755790~~272835% 0.000000% 0.000000% 0.000000% 23.~~755790~~272835% 2.~~280074~~584449% 0.000000% 0.000000% 0.000000% 2.~~280074~~584449%

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 79 0 0 0 79 ~~845~~986,~~188~~221.4252 0.00 0.00 0.00 ~~845~~986,~~188~~221.4252 60 Days 24 0 0 0 24 ~~185~~363,~~440~~053.7094 0.00 0.00 0.00 ~~185~~363,~~440~~053.7094 90 Days 32 0 0 0 32 ~~130~~185,~~414~~288.8831 0.00 0.00 0.00 ~~130~~185,~~414~~288.8831 120 Days 03 0 0 0 03 0130,334.0066 0.00 0.00 0.00 0130,334.0066 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 1218 0 0 0 1218 1,~~161~~664,~~044~~898.0043 0.00 0.00 0.00 1,~~161~~664,~~044~~898.0043 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~178451~~528014% 0.000000% 0.000000% 0.000000% 1.~~178451~~528014% 1.~~212113~~430113% 0.000000% 0.000000% 0.000000% 1.~~212113~~430113% 60 Days 0.~~336700~~679117% 0.000000% 0.000000% 0.000000% 0.~~336700~~679117% 0.~~265947~~526462% 0.000000% 0.000000% 0.000000% 0.~~265947~~526462% 90 Days 0.~~505051~~339559% 0.000000% 0.000000% 0.000000% 0.~~505051~~339559% 0.~~187032~~268685% 0.000000% 0.000000% 0.000000% 0.~~187032~~268685% 120 Days 0.~~000000~~509338% 0.000000% 0.000000% 0.000000% 0.~~000000~~509338% 0.~~000000~~188997% 0.000000% 0.000000% 0.000000% 0.~~000000~~188997% 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 23.~~020202~~056027% 0.000000% 0.000000% 0.000000% 23.~~020202~~056027% 12.~~665092~~414258% 0.000000% 0.000000% 0.000000% 12.~~665092~~414258% 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 3437 0 0 0 3437 4,~~224~~602,~~680~~652.3018 0.00 0.00 0.00 4,~~224~~602,~~680~~652.3018 60 Days 1513 0 0 0 1513 1,~~835~~446,~~928~~206.2213 0.00 0.00 0.00 1,~~835~~446,~~928~~206.2213 90 Days 2015 0 0 0 2015 21,~~476~~740,~~033~~786.3117 0.00 0.00 0.00 21,~~476~~740,~~033~~786.3117 120 Days 716 0 0 0 716 ~~744~~2,~~145~~000,465.1664 0.00 0.00 0.00 ~~744~~2,~~145~~000,465.1664 150 Days 05 0 0 0 05 0536,028.0016 0.00 0.00 0.00 0536,028.0016 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 7686 0 0 0 7686 910,~~280~~326,~~786~~138.9928 0.00 0.00 0.00 910,~~280~~326,~~786~~138.9928 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~362179~~507128% 0.000000% 0.000000% 0.000000% 1.~~362179~~507128% 1.~~165448~~292249% 0.000000% 0.000000% 0.000000% 1.~~165448~~292249% 60 Days 0.~~600962~~529532% 0.000000% 0.000000% 0.000000% 0.~~600962~~529532% 0.~~506471~~406039% 0.000000% 0.000000% 0.000000% 0.~~506471~~406039% 90 Days 0.~~801282~~610998% 0.000000% 0.000000% 0.000000% 0.~~801282~~610998% 0.~~683055~~488746% 0.000000% 0.000000% 0.000000% 0.~~683055~~488746% 120 Days 0.~~280449~~651731% 0.000000% 0.000000% 0.000000% 0.~~280449~~651731% 0.~~205285~~561654% 0.000000% 0.000000% 0.000000% 0.~~205285~~561654% 150 Days 0.~~000000~~203666% 0.000000% 0.000000% 0.000000% 0.~~000000~~203666% 0.~~000000~~150496% 0.000000% 0.000000% 0.000000% 0.~~000000~~150496% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.~~044872~~503055% 0.000000% 0.000000% 0.000000% 3.~~044872~~503055% 2.~~560259~~899185% 0.000000% 0.000000% 0.000000% 2.~~560259~~899185% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 32 0 0 0 32 1785,~~140,173~~614.7033 0.00 0.00 0.00 1785,~~140,173~~614.7033 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 31 0 0 0 3 1 324,~~549,933~~373.7113 0.00 0.00 0.00 1324,~~549,933~~373.7113 120 Days 03 0 0 0 03 01,548,555.0035 0.00 0.00 0.00 01,548,555.0035 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 6 0 0 0 6 2,~~690~~658,~~107~~542.4181 0.00 0.00 0.00 2,~~690~~658,~~107~~542.4181 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~083032~~729927% 0.000000% 0.000000% 0.000000% 10.~~083032~~729927% 0.~~923316~~644612% 0.000000% 0.000000% 0.000000% 0.~~923316~~644612% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 10.~~083032~~364964% 0.000000% 0.000000% 0.000000% 10.~~083032~~364964% 10.~~255141~~266154% 0.000000% 0.000000% 0.000000% 10.~~255141~~266154% 120 Days 01.~~000000~~094891% 0.000000% 0.000000% 0.000000% 01.~~000000~~094891% 01.~~000000~~270620% 0.000000% 0.000000% 0.000000% 01.~~000000~~270620% 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 2.~~166065~~189781% 0.000000% 0.000000% 0.000000% 2.~~166065~~189781% 2.~~178457~~181386% 0.000000% 0.000000% 0.000000% 2.~~178457~~181386%

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 76.~~005113~~997294% Weighted Average Net Coupon 6.~~505113~~497294% Weighted Average Pass-Through Rate 6.~~478363~~470544% Weighted Average Maturity(Stepdown Calculation ) ~~351~~350 Beginning Scheduled Collateral Loan Count 3,~~470~~411 Number Of Loans Paid In Full 5950 Ending Scheduled Collateral Loan Count 3,~~411~~361 Beginning Scheduled Collateral Balance ~~585~~575,~~602~~943,~~940~~628.8892 Ending Scheduled Collateral Balance ~~575~~566,~~943~~835,~~628~~678.9205 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 ~~575~~566,~~943~~835,~~470~~708.1911 Monthly P &I Constant 3,~~746~~682,~~036~~641.0406 Special Servicing Fee 0.00 Prepayment Penalties ~~151~~178,~~271~~824.6440 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~575~~566,~~943~~835,~~628~~678.9205 Scheduled Principal ~~327~~324,~~523~~268.5854 Unscheduled Principal 98,~~331~~783,~~788~~682.3834

Miscellaneous Reporting Credit Enhancement 1213.~~873829~~089740% ~~Stepdown~~Extra ~~Date~~Principal inAmount ~~Effect~~0.00 NOOvercollaterization ~~Trigger Event NO Overcollaterized Target~~ Amount 5,126,520.77 Overcollaterized Deficiency Amount 0.00 Overcollaterized Increase Amount 0.00 Overcollaterized Reduction Amount 0.00 ~~Overcollaterization~~Overcollaterized Release Amount 0.00 Overcollaterized Target Amount 5,126,520.77 Specified Overcollaterization Amount 5,126,520.77 ~~Overcollaterized~~Stepdown ~~Deficiency~~Date ~~Amount~~in ~~0.00~~Effect ~~Overcollaterized~~NO ~~Release~~Trigger ~~Amount~~Event ~~0.00~~NO ~~Extra Principal Amount 0.00~~ Excess Cash 21,~~037~~967,~~395~~398.1892

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.~~541629~~522851 7.~~056632~~048999 7.~~017546~~028952 Weighted Average Net Rate 7.~~041629~~022851 6.~~556632~~548999 6.~~517545~~528952 Weighted Average Maturity ~~351~~350 350 351 ~~352~~ Beginning Loan Count ~~609~~594 2,~~536~~496 4544 Loans Paid In Full 155 4041 1 Ending Loan Count ~~594~~589 2,~~496~~455 4443 Beginning Scheduled Balance 7169,~~437~~728,~~507~~548.9335 ~~368~~362,~~333~~494,~~977~~229.3282 20,~~612~~234,~~182~~017.1564 Ending scheduled Balance 6968,~~728~~961,~~548~~060.3592 ~~362~~356,~~494~~173,~~229~~871.8228 2019,~~234~~826,~~017~~727.6422 Record Date 0809/3130/2003 0809/3130/2003 0809/3130/2003 Principal And Interest Constant ~~514~~502,~~870~~594.0398 2,~~358~~319,~~700~~496.2123 ~~140~~138,~~451~~212.8111 Scheduled Principal 65,~~907~~463.3877 ~~192~~190,~~702~~144.5090 19,~~912~~692.7016 Unscheduled Principal 1702,~~643,052~~023.2067 56,~~647~~130,~~045~~213.0064 ~~358~~387,~~251~~598.8126 Scheduled Interest ~~448~~437,~~962~~131.6521 2,~~165~~129,~~997~~351.7133 ~~120~~118,~~539~~519.1195 Servicing Fees 29,~~765~~053.6455 ~~153~~151,~~472~~039.5024 8,~~588~~430.4284 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~401~~392.8422 2,~~071~~039.8504 ~~115~~113.9481 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 1,~~190~~162.6315 6,~~138~~041.9056 ~~343~~337.5323 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 ~~417~~406,~~604~~523.5429 21,~~004~~970,~~314~~231.4649 ~~111~~109,~~491~~638.2207 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 76.~~014879~~996101 6.~~529882~~522249 6.~~490796~~502202

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.~~545443~~543564 76.~~005113~~997294 Weighted Average Net Rate 6.~~045443~~043564 6.~~505113~~497294 Weighted Average Maturity ~~352~~ 351 350 Beginning Loan Count ~~280~~277 3,~~470~~411 Loans Paid In Full 3 5950 Ending Loan Count ~~277~~274 3,~~411~~361 Beginning Scheduled Balance ~~125~~123,~~219~~486,~~273~~833.4811 ~~585~~575,~~602~~943,~~940~~628.8892 Ending scheduled Balance ~~123~~121,~~486~~874,~~833~~018.1163 ~~575~~566,~~943~~835,~~628~~678.9205 Record Date 0809/3130/2003 0809/3130/2003 Principal And Interest Constant ~~732~~722,~~013~~337.9974 3,~~746~~682,~~036~~641.0406 Scheduled Principal 4948,~~001~~967.0071 ~~327~~324,~~523~~268.5854 Unscheduled Principal 1,~~683~~563,~~439~~846.3777 98,~~331~~783,~~788~~682.3834 Scheduled Interest ~~683~~673,~~012~~370.9903 3,~~418~~358,~~512~~372.4652 Servicing Fees 5251,~~174~~452.7087 ~~244~~239,~~001~~976.2650 Master Servicing Fees 0.00 0.00 Trustee Fee ~~704~~694.3662 3,~~293~~239.9969 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 2,~~086~~058.9912 9,~~760~~599.0506 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 ~~628~~619,~~046~~164.9442 3,~~161~~105,~~457~~557.1627 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.~~018693~~016814 6.~~478363~~470544

Filing Compare · FINANCIAL ASSET SEC CORP FIRST FRANKLIN MORT LN TR 03 FF1