8-K 1 ffm03ff2.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-FF2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-104153-05 54-2116907 Pooling and Servicing Agreement) (Commission 54-2116908 (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-FF2 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-FF2 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-FF2 Trust By: Wells Fargo Bank Minnesota, 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-FF2 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-FF2 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 32027NCV1 SEN 2.57000% ~~520~~515,~~856~~900,~~250~~455.0184 1,~~115~~104,~~500~~886.4781 4,~~955~~885,~~794~~792.1881 A-2 32027NCW9 SEN 2.47000% ~~231~~230,~~192~~257,~~445~~312.5379 ~~475~~473,~~871~~946.1230 ~~935~~2,~~132~~082,213.7424 M-1 32027NCX7 MEZ 2.90000% 39,351,000.00 95,098.25 0.00 M-2 32027NCY5 MEZ 2.~~76000~~77000% 34,978,000.00 8386,~~131~~123.0561 0.00 M-3A 32027NCZ2 MEZ 3.~~11000~~12000% 4,968,000.00 13,~~304~~777.5892 0.00 M-3F 32027NDA6 MEZ 4.27000% 5,963,000.00 21,218.34 0.00 M-4A 32027NDB4 MEZ 4.~~11000~~12000% 3,745,000.00 13,~~254~~715.1802 0.00 M-4F 32027NDC2 MEZ 4.81000% 5,000,000.00 20,041.67 0.00 M-5A 32027NDD0 MEZ 4.~~71000~~72000% 3,468,000.00 14,~~065~~550.6319 0.00 M-5F 32027NDE8 MEZ 5.34000% 7,463,000.00 33,210.35 0.00 R FFM3FF2R1 SEN 0.00000% 0.00 0.00 0.00 C FFM03FF2C SEN 0.00000% 6,558,451.90 2,~~725~~697,~~352~~609.2330 0.00 P FFM03FF2P SEN 0.00000% 100.00 79138,~~169~~766.9330 0.00 DIV CERT FFM03FF2DIV SEN 0.00000% 0.00 0.00 0.00 Totals ~~863~~857,~~543~~652,~~247~~320.4453 4,~~689~~712,~~217~~944.8006 56,~~890~~968,~~926~~006.9205

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~515~~511,~~900~~014,~~455~~663.8403 65,~~071~~990,~~294~~679.6562 0.00 A-2 0.00 ~~230~~228,~~257~~175,~~312~~099.7955 12,~~411~~556,~~003~~159.8654 0.00 M-1 0.00 39,351,000.00 95,098.25 0.00 M-2 0.00 34,978,000.00 8386,~~131~~123.0561 0.00 M-3A 0.00 4,968,000.00 13,~~304~~777.5892 0.00 M-3F 0.00 5,963,000.00 21,218.34 0.00 M-4A 0.00 3,745,000.00 13,~~254~~715.1802 0.00 M-4F 0.00 5,000,000.00 20,041.67 0.00 M-5A 0.00 3,468,000.00 14,~~065~~550.6319 0.00 M-5F 0.00 7,463,000.00 33,210.35 0.00 R 0.00 0.00 0.00 0.00 C 0.00 6,558,451.90 2,~~725~~697,~~352~~609.2330 0.00 P 0.00 100.00 79138,~~169~~766.9330 0.00 DIV CERT 0.00 0.00 0.00 0.00 Totals 0.00 ~~857~~850,~~652~~684,~~320~~314.5348 1011,~~580~~680,~~144~~950.7211 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-1 528,290,000.00 ~~520~~515,~~856~~900,~~250~~455.0184 0.00 4,~~955~~885,~~794~~792.1881 0.00 0.00 A-2 234,676,000.00 ~~231~~230,~~192~~257,~~445~~312.5379 0.00 ~~935~~2,~~132~~082,213.7424 0.00 0.00 M-1 39,351,000.00 39,351,000.00 0.00 0.00 0.00 0.00 M-2 34,978,000.00 34,978,000.00 0.00 0.00 0.00 0.00 M-3A 4,968,000.00 4,968,000.00 0.00 0.00 0.00 0.00 M-3F 5,963,000.00 5,963,000.00 0.00 0.00 0.00 0.00 M-4A 3,745,000.00 3,745,000.00 0.00 0.00 0.00 0.00 M-4F 5,000,000.00 5,000,000.00 0.00 0.00 0.00 0.00 M-5A 3,468,000.00 3,468,000.00 0.00 0.00 0.00 0.00 M-5F 7,463,000.00 7,463,000.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 C 6,558,152.94 6,558,451.90 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 874,460,252.94 ~~863~~857,~~543~~652,~~247~~320.4453 0.00 56,~~890~~968,~~926~~006.9205 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 4,~~955~~885,~~794~~792.1881 ~~515~~511,~~900~~014,~~455~~663.8403 0.~~97654784~~96729952 4,~~955~~885,~~794~~792.1881 A-2 ~~935~~2,~~132~~082,213.7424 ~~230~~228,~~257~~175,~~312~~099.7955 0.~~98117112~~97229840 ~~935~~2,~~132~~082,213.7424 M-1 0.00 39,351,000.00 1.00000000 0.00 M-2 0.00 34,978,000.00 1.00000000 0.00 M-3A 0.00 4,968,000.00 1.00000000 0.00 M-3F 0.00 5,963,000.00 1.00000000 0.00 M-4A 0.00 3,745,000.00 1.00000000 0.00 M-4F 0.00 5,000,000.00 1.00000000 0.00 M-5A 0.00 3,468,000.00 1.00000000 0.00 M-5F 0.00 7,463,000.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 C 0.00 6,558,451.90 1.00004559 0.00 P 0.00 100.00 1.00000000 0.00 DIV CERT 0.00 0.00 0.00000000 0.00 Totals 56,~~890~~968,~~926~~006.9205 ~~857~~850,~~652~~684,~~320~~314.5348 0.~~98077908~~97281073 56,~~890~~968,~~926~~006.9205

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 528,290,000.00 ~~985~~976.~~92865663~~54783517 0.00000000 9.~~38082148~~24831591 0.00000000 A-2 234,676,000.00 ~~985~~981.~~15589805~~17111588 0.00000000 38.~~98478217~~87271489 0.00000000 M-1 39,351,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 34,978,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3A 4,968,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3F 5,963,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4A 3,745,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4F 5,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5A 3,468,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5F 7,463,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 6,558,152.94 1000.04558601 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 9.~~38082148~~24831591 ~~976~~967.~~54783517~~29951926 0.~~97654784~~96729952 9.~~38082148~~24831591 A-2 0.00000000 38.~~98478217~~87271489 ~~981~~972.~~17111588~~29840099 0.~~98117112~~97229840 38.~~98478217~~87271489 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-3A 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-4A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 1,000.04558601 1.00004559 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-1 528,290,000.00 2.57000% ~~520~~515,~~856~~900,~~250~~455.0184 1,~~115~~104,~~500~~886.4781 0.00 0.00 A-2 234,676,000.00 2.47000% ~~231~~230,~~192~~257,~~445~~312.5379 ~~475~~473,~~871~~946.1230 0.00 0.00 M-1 39,351,000.00 2.90000% 39,351,000.00 95,098.25 0.00 0.00 M-2 34,978,000.00 2.~~76000~~77000% 34,978,000.00 8386,~~131~~123.0561 0.00 0.00 M-3A 4,968,000.00 3.~~11000~~12000% 4,968,000.00 13,~~304~~777.5892 0.00 0.00 M-3F 5,963,000.00 4.27000% 5,963,000.00 21,218.34 0.00 0.00 M-4A 3,745,000.00 4.~~11000~~12000% 3,745,000.00 13,~~254~~715.1802 0.00 0.00 M-4F 5,000,000.00 4.81000% 5,000,000.00 20,041.67 0.00 0.00 M-5A 3,468,000.00 4.~~71000~~72000% 3,468,000.00 14,~~065~~550.6319 0.00 0.00 M-5F 7,463,000.00 5.34000% 7,463,000.00 33,210.35 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 C 6,558,152.94 0.00000% 6,558,451.90 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 0.00 0.00 0.00 Totals 874,460,252.94 1,~~884~~876,~~695~~568.6446 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 1,~~115~~104,~~500~~886.4781 0.00 ~~515~~511,~~900~~014,~~455~~663.8403 A-2 0.00 0.00 ~~475~~473,~~871~~946.1230 0.00 ~~230~~228,~~257~~175,~~312~~099.7955 M-1 0.00 0.00 95,098.25 0.00 39,351,000.00 M-2 0.00 0.00 8386,~~131~~123.0561 0.00 34,978,000.00 M-3A 0.00 0.00 13,~~304~~777.5892 0.00 4,968,000.00 M-3F 0.00 0.00 21,218.34 0.00 5,963,000.00 M-4A 0.00 0.00 13,~~254~~715.1802 0.00 3,745,000.00 M-4F 0.00 0.00 20,041.67 0.00 5,000,000.00 M-5A 0.00 0.00 14,~~065~~550.6319 0.00 3,468,000.00 M-5F 0.00 0.00 33,210.35 0.00 7,463,000.00 R 0.00 0.00 0.00 0.00 0.00 C 0.00 0.00 2,~~725~~697,~~352~~609.2330 0.00 6,558,451.90 P 0.00 0.00 79138,~~169~~766.9330 0.00 100.00 DIV CERT 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 4,~~689~~712,~~217~~944.8006 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-1 528,290,000.00 2.57000% ~~985~~976.~~92865663~~54783517 2.~~11153054~~09143995 0.00000000 0.00000000 A-2 234,676,000.00 2.47000% ~~985~~981.~~15589805~~17111588 2.~~02777924~~01957720 0.00000000 0.00000000 M-1 39,351,000.00 2.90000% 1000.00000000 2.41666667 0.00000000 0.00000000 M-2 34,978,000.00 2.~~76000~~77000% 1000.00000000 2.~~37666676~~46222225 0.00000000 0.00000000 M-3A 4,968,000.00 3.~~11000~~12000% 1000.00000000 2.~~67805556~~77333333 0.00000000 0.00000000 M-3F 5,963,000.00 4.27000% 1000.00000000 3.55833305 0.00000000 0.00000000 M-4A 3,745,000.00 4.~~11000~~12000% 1000.00000000 3.~~53916689~~66222163 0.00000000 0.00000000 M-4F 5,000,000.00 4.81000% 1000.00000000 4.00833400 0.00000000 0.00000000 M-5A 3,468,000.00 4.~~71000~~72000% 1000.00000000 4.~~05583333~~19555652 0.00000000 0.00000000 M-5F 7,463,000.00 5.34000% 1000.00000000 4.45000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 C 6,558,152.94 0.00000% 1000.04558601 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 2.~~11153054~~09143995 0.00000000 ~~976~~967.~~54783517~~29951926 A-2 0.00000000 0.00000000 2.~~02777924~~01957720 0.00000000 ~~981~~972.~~17111588~~29840099 M-1 0.00000000 0.00000000 2.41666667 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~37666676~~46222225 0.00000000 1000.00000000 M-3A 0.00000000 0.00000000 2.~~67805556~~77333333 0.00000000 1000.00000000 M-3F 0.00000000 0.00000000 3.55833305 0.00000000 1000.00000000 M-4A 0.00000000 0.00000000 3.~~53916689~~66222163 0.00000000 1000.00000000 M-4F 0.00000000 0.00000000 4.00833400 0.00000000 1000.00000000 M-5A 0.00000000 0.00000000 4.~~05583333~~19555652 0.00000000 1000.00000000 M-5F 0.00000000 0.00000000 4.45000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 ~~415~~411.~~56704379~~33674751 0.00000000 1000.04558601 P 0.00000000 0.00000000 ~~791699~~1387663.~~30000000~~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 1011,~~865~~903,~~102~~827.2124 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 79138,~~169~~766.9330 Total Deposits 1012,~~944~~042,~~272~~593.1454 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~364~~361,~~127~~643.4243 Payment of Interest and Principal 1011,~~580~~680,~~144~~950.7211 Total Withdrawals (Pool Distribution Amount) 1012,~~944~~042,~~272~~593.1454 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~359~~357,~~809~~355.6914 WELLS FARGO 4,~~317~~288.7329 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~364~~361,~~127~~643.4243

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 34 0 0 34 ~~350~~454,~~500~~873.1918 0.00 0.00 ~~350~~454,~~500~~873.1918 30 Days 3749 0 0 0 3749 47,~~567~~460,~~664~~923.0034 0.00 0.00 0.00 47,~~567~~460,~~664~~923.0034 60 Days 228 0 1 0 09 ~~23 4~~2,~~986~~008,~~468~~657.02 ~~60,222.22~~ 0.00 42,344.34 0.00 52,~~046~~051,~~690~~001.2436 90 Days 0 2 113 24 0 1329 046,989.0048 ~~194~~254,~~222~~444.2547 25,~~132~~190,~~323~~821.5157 0.00 25,~~326~~492,~~545~~255.7652 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 59 67 1125 0 7691 9,~~554~~516,~~132~~569.0284 ~~604~~709,~~944~~317.6665 25,~~132~~233,~~323~~165.5191 0.00 1215,~~291~~459,~~400~~053.1940 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.~~068524~~092102% 0.000000% 0.000000% 0.~~068524~~092102% 0.~~040867~~053471% 0.000000% 0.000000% 0.~~040867~~053471% 30 Days 01.~~845135~~128252% 0.000000% 0.000000% 0.000000% 01.~~845135~~128252% 0.~~532578~~877050% 0.000000% 0.000000% 0.000000% 0.~~532578~~877050% 60 Days 0.~~502513~~184204% 0.~~022841~~000000% 0.~~000000~~023026% 0.000000% 0.~~525354~~207230% 0.~~581409~~236122% 0.~~007022~~000000% 0.~~000000~~004978% 0.000000% 0.~~588431~~241100% 90 Days 0.~~000000~~046051% 0.~~045683~~069077% 0.~~251256~~552613% 0.000000% 0.~~296939~~667741% 0.~~000000~~005524% 0.~~022646~~029911% 0.~~248623~~610194% 0.000000% 0.~~271269~~645628% 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 1.~~347647~~358508% 0.~~137049~~161179% 0.~~251256~~575639% 0.000000% 12.~~735952~~095326% 1.~~113987~~118696% 0.~~070535~~083382% 0.~~248623~~615171% 0.000000% 1.~~433145~~817249%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 7089,~~382~~819.1457

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.~~925353~~919214% Weighted Average Net Coupon 6.~~425353~~419214% Weighted Average Pass-Through Rate 6.~~419353~~413214% Weighted Average Maturity(Stepdown Calculation ) ~~353~~352 Beginning Scheduled Collateral Loan Count 4,~~409~~378 Number Of Loans Paid In Full 3135 Ending Scheduled Collateral Loan Count 4,~~378~~343 Beginning Scheduled Collateral Balance ~~863~~857,~~543~~652,~~247~~320.4452 Ending Scheduled Collateral Balance ~~857~~850,~~652~~684,~~320~~314.5247 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 ~~857~~850,~~652~~684,~~320~~314.5247 Monthly P &I Constant 5,~~259~~223,~~583~~870.9654 Special Servicing Fee 0.00 Prepayment Penalties 79138,~~169~~766.9330 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~857~~850,~~652~~684,~~320~~314.5247 Scheduled Principal ~~275~~278,~~966~~637.0734 Unscheduled Principal 56,~~614~~689,~~960~~368.8571

Miscellaneous Reporting Credit Enhancement Percentage 910.~~94223~~01052% ~~Step~~Extra ~~Down~~Principal NODistribution ~~Trigger~~Amount ~~Event~~0.00 NOOvercollaterization ~~Overcollaterized Target~~ Amount 6,558,451.90 Overcollaterized Deficiency Amount 0.00 Overcollaterized Increase Amount 0.00 Overcollaterized Reduction Amount 0.00 ~~Overcollaterization~~Overcollaterized Target Amount 6,558,451.90 Specified Overcollaterization Amount 6,558,451.90 ~~Overcollaterized~~Step ~~Deficiency~~Down ~~Amount~~Do ~~0.00~~Not ~~Extra~~Stepdown ~~Principal~~Trigger ~~Distribution~~Event ~~Amount~~Not Triggered Dividend Withdrawal 0.00 ~~Excess~~Dividend ~~Cash~~Deposit 29,~~725,352~~397.2100 Beg Dividend Account Balance 1928,~~508~~951.4407 ~~Dividend Deposit 9,442.63 Dividend Withdrawal 0.00~~ End Dividend Account Balance 2838,~~951~~348.07 Excess Cash 2,697,609.30

Group Level Collateral Statement Group GROUP 1 GROUP 2 GROUP 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 8.~~028306~~014750 7.~~012832~~007526 7.~~029675~~029704 Weighted Average Net Rate 7.~~528307~~514750 6.~~512832~~507526 6.~~529675~~529704 Weighted Average Maturity ~~353~~352 352 353 ~~354~~ Beginning Loan Count ~~394~~389 3,~~419~~394 61 Loans Paid In Full 53 2527 01 Ending Loan Count ~~389~~386 3,~~394~~367 6160 Beginning Scheduled Balance 4544,~~615~~892,~~040~~175.4799 ~~552~~548,~~441~~208,~~695~~765.0131 22,~~499~~478,~~192~~795.4735 Ending scheduled Balance 44,~~892~~517,~~175~~227.9992 ~~548~~543,~~208~~697,~~765~~920.3157 22,~~478~~109,~~795~~669.3522 Record Date 0809/3130/2003 0809/3130/2003 0809/3130/2003 Principal And Interest Constant ~~346~~341,~~603~~160.8433 3,~~383~~355,~~189~~862.6959 151,195.89 Scheduled Principal 41,~~427~~327.5736 154,~~705~~539.7584 19,~~394~~513.2116 Unscheduled Principal ~~681~~333,~~436~~620.9171 4,~~078~~356,~~223~~304.9590 1349,~~002~~612.9197 Scheduled Interest ~~305~~299,~~176~~832.2797 3,~~228~~201,~~483~~322.9475 131,~~801~~682.6873 Servicing Fees 1918,~~006~~705.2507 ~~230~~228,~~184~~420.0533 9,~~374~~366.6717 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~228~~224.0948 2,~~762~~741.2105 112.4940 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 ~~285~~280,~~941~~903.9342 2,~~995~~970,~~537~~161.6837 122,~~314~~204.5216 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 7.~~522306~~508750 6.~~506832~~501526 6.~~523675~~523704

Group Level Collateral Statement Group GROUP 4 Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.~~509752~~505791 6.~~925353~~919214 Weighted Average Net Rate 6.~~009752~~005791 6.~~425353~~419214 Weighted Average Maturity ~~354~~ 353 352 Beginning Loan Count ~~535~~534 4,~~409~~378 Loans Paid In Full 14 3135 Ending Loan Count ~~534~~530 4,~~378~~343 Beginning Scheduled Balance 242,~~987~~072,~~319~~583.4987 ~~863~~857,~~543~~652,~~247~~320.4452 Ending scheduled Balance ~~242~~240,~~072~~359,~~583~~496.8776 ~~857~~850,~~652~~684,~~320~~314.5247 Record Date 0809/3130/2003 0809/3130/2003 Principal And Interest Constant 1,~~378~~375,~~594~~651.5473 5,~~259~~223,~~583~~870.9654 Scheduled Principal 6063,~~438~~256.5498 ~~275~~278,~~966~~637.0734 Unscheduled Principal ~~854~~1,~~297~~649,830.0813 56,~~614~~689,~~960~~368.8571 Scheduled Interest 1,~~318~~312,~~156~~394.0075 4,~~983~~945,~~617~~233.8920 Servicing Fees ~~101~~100,~~244~~863.7257 ~~359~~357,~~809~~355.6914 Master Servicing Fees 0.00 0.00 Trustee Fee 1,~~214~~210.9436 4,~~317~~288.7329 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 1,~~215~~210,~~696~~320.3482 4,~~619~~583,~~490~~589.4777 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 65.~~003752~~999791 6.~~419353~~413214

Filing Compare · FIRST FRANKLIN MORTGAGE LOAN TRUST 2003-FF2