8-K 1 prf03001.txt OCTOBER 8K 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 PROVIDENT FUNDING MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-104153-07 54-2121751 Pooling and Servicing Agreement) (Commission 54-2121752 (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 PROVIDENT FUNDING MORTGAGE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2003-1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the 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. PROVIDENT FUNDING MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee 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 Pass-Through Certificates, Series 2003-1 Trust, relating to the October 27, 2003 distribution. EX-99.1

Provident Residential Funding Mortgage Pass-Through Certificates Record Date: 89/3130/03 Distribution Date: 910/2527/03 PRF Series: 2003-1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A 743873AA9 SEQ 3.79900% ~~351~~331,~~250~~762,~~447~~922.5409 1,~~047~~114,~~808~~497.9653 1917,~~487~~045,~~525~~682.4568 AIO 743873AH4 IO 0.~~55802~~54874% 0.00 ~~153~~161,~~909~~139.2322 0.00 AR 743873AJ0 SEQ 4.~~35275~~34864% 0.00 0.00 0.00 B1 743873AB7 SUB 4.~~35702~~34774% 3,~~749~~744,~~116~~222.6266 1214,~~826~~351.6956 4,~~893~~926.9687 B2 743873AC5 SUB 4.~~35702~~34774% 2,~~999~~995,~~093~~178.5665 1011,~~260~~480.6748 3,~~914~~941.9123 B3 743873AD3 SUB 4.~~35702~~34774% 2,~~061~~058,~~315~~624.0528 7,~~052~~890.2968 2,~~690~~708.7786 B4 743873AE1 SUB 4.~~35702~~34774% ~~749~~748,~~024~~046.3661 2,~~562~~867.6125 ~~977~~984.7532 B5 743873AF8 SUB 4.~~35702~~34774% ~~562~~561,~~267~~533.6266 12,~~923~~152.6635 ~~733~~738.9690 B6 743873AG6 SUB 4.~~35702~~34774% 1,~~128~~127,~~752~~279.7532 34,~~861~~320.7585 1,~~473~~483.4334 Totals ~~362~~342,~~500~~997,~~017~~807.5027 1,~~240~~318,~~205~~699.8692 1917,~~502~~060,~~210~~466.2320

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~331~~314,~~762~~717,~~922~~239.0941 2018,~~535~~160,~~334~~180.4121 0.00 AIO 0.00 0.00 ~~153~~161,~~909~~139.2322 0.00 AR 0.00 0.00 0.00 0.00 B1 0.00 3,~~744~~739,~~222~~295.6678 1719,~~720~~278.6543 0.00 B2 0.00 2,~~995~~991,~~178~~237.6541 1415,~~175~~421.5871 0.00 B3 0.00 2,~~058~~055,~~624~~915.2842 910,~~743~~599.0654 0.00 B4 0.00 ~~748~~747,~~046~~062.6129 3,~~540~~851.3657 0.00 B5 0.00 ~~561~~560,~~533~~794.6676 2,~~657~~891.6225 0.00 B6 0.00 1,~~127~~125,~~279~~795.3298 5,~~335~~804.1819 0.00 Totals 0.00 ~~342~~325,~~997~~937,~~807~~341.2705 2018,~~742~~379,~~416~~166.0912 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 364,182,000.00 ~~351~~331,~~250~~762,~~447~~922.5409 ~~458~~436,~~509~~553.8840 1916,~~029~~609,~~015~~129.5728 0.00 0.00 AIO 0.00 0.00 0.00 0.00 0.00 0.00 AR 100.00 0.00 0.00 0.00 0.00 0.00 B1 3,754,000.00 3,~~749~~744,~~116~~222.6266 4,~~893~~926.9687 0.00 0.00 0.00 B2 3,003,000.00 2,~~999~~995,~~093~~178.5665 3,~~914~~941.9123 0.00 0.00 0.00 B3 2,064,000.00 2,~~061~~058,~~315~~624.0528 2,~~690~~708.7786 0.00 0.00 0.00 B4 750,000.00 ~~749~~748,~~024~~046.3661 ~~977~~984.7532 0.00 0.00 0.00 B5 563,000.00 ~~562~~561,~~267~~533.6266 ~~733~~738.9690 0.00 0.00 0.00 B6 1,130,223.00 1,~~128~~127,~~752~~279.7532 1,~~473~~483.4334 0.00 0.00 0.00 Totals 375,446,323.00 ~~362~~342,~~500~~997,~~017~~807.5027 ~~473~~451,~~194~~336.6692 1916,~~029~~609,~~015~~129.5728 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 1917,~~487~~045,~~525~~682.4568 ~~331~~314,~~762~~717,~~922~~239.0941 0.~~91098111~~86417571 1917,~~487~~045,~~525~~682.4568 AIO 0.00 0.00 0.00000000 0.00 AR 0.00 0.00 0.00000000 0.00 B1 4,~~893~~926.9687 3,~~744~~739,~~222~~295.6678 0.~~99739549~~99608305 4,~~893~~926.9687 B2 3,~~914~~941.9123 2,~~995~~991,~~178~~237.6541 0.~~99739549~~99608305 3,~~914~~941.9123 B3 2,~~690~~708.7786 2,~~058~~055,~~624~~915.2842 0.~~99739548~~99608305 2,~~690~~708.7786 B4 ~~977~~984.7532 ~~748~~747,~~046~~062.6129 0.~~99739548~~99608305 ~~977~~984.7532 B5 ~~733~~738.9690 ~~561~~560,~~533~~794.6676 0.~~99739549~~99608306 ~~733~~738.9690 B6 1,~~473~~483.4334 1,~~127~~125,~~279~~795.3298 0.~~99739549~~99608306 1,~~473~~483.4334 Totals 1917,~~502~~060,~~210~~466.2320 ~~342~~325,~~997~~937,~~807~~341.2705 0.~~91357349~~86813300 1917,~~502~~060,~~210~~466.2320

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 364,182,000.00 ~~964~~910.~~49151122~~98110859 1.~~25901302~~19872317 5245.~~25138961~~60667271 0.00000000 AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 AR 100.00 0.00000000 0.00000000 0.00000000 0.00000000 B1 3,754,000.00 ~~998~~997.~~69915290~~39548748 1.~~30366542~~31243207 0.00000000 0.00000000 B2 3,003,000.00 ~~998~~997.~~69915418~~39548785 1.~~30366633~~31243090 0.00000000 0.00000000 B3 2,064,000.00 ~~998~~997.~~69915213~~39548450 1.~~30366764~~31243217 0.00000000 0.00000000 B4 750,000.00 ~~998~~997.~~69914667~~39548000 1.~~30366667~~31242667 0.00000000 0.00000000 B5 563,000.00 ~~998~~997.~~69914742~~39548845 1.~~30365897~~31243339 0.00000000 0.00000000 B6 1,130,223.00 ~~998~~997.~~69915052~~39548744 1.~~30366308~~31243126 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 0.00000000 5346.~~51040263~~80539587 ~~910~~864.~~98110859~~17571272 0.~~91098111~~86417571 5346.~~51040263~~80539587 AIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B1 0.00000000 1.~~30366542~~31243207 ~~997~~996.~~39548748~~08305274 0.~~99739549~~99608305 1.~~30366542~~31243207 B2 0.00000000 1.~~30366633~~31243090 ~~997~~996.~~39548785~~08305361 0.~~99739549~~99608305 1.~~30366633~~31243090 B3 0.00000000 1.~~30366764~~31243217 ~~997~~996.~~39548450~~08305233 0.~~99739548~~99608305 1.~~30366764~~31243217 B4 0.00000000 1.~~30366667~~31242667 ~~997~~996.~~39548000~~08305333 0.~~99739548~~99608305 1.~~30366667~~31242667 B5 0.00000000 1.~~30365897~~31243339 ~~997~~996.~~39548845~~08305506 0.~~99739549~~99608306 1.~~30365897~~31243339 B6 0.00000000 1.~~30366308~~31243126 ~~997~~996.~~39548744~~08305618 0.~~99739549~~99608306 1.~~30366308~~31243126 (3) Amount Does Not Include Excess Special Hazard, 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 364,182,000.00 3.79900% ~~351~~331,~~250~~762,~~447~~922.5409 1,~~112~~050,~~000~~306.3812 0.00 0.00 AIO 0.00 0.~~55802~~54874% ~~351~~331,~~250~~762,~~447~~922.5409 ~~163~~151,~~338~~710.1035 0.00 0.00 AR 100.00 4.~~35275~~34864% 0.00 0.00 0.00 0.00 B1 3,754,000.00 4.~~35702~~34774% 3,~~749~~744,~~116~~222.6266 13,~~612~~565.4976 0.00 0.00 B2 3,003,000.00 4.~~35702~~34774% 2,~~999~~995,~~093~~178.5665 10,~~889~~851.2789 0.00 0.00 B3 2,064,000.00 4.~~35702~~34774% 2,~~061~~058,~~315~~624.0528 7,~~484~~458.3364 0.00 0.00 B4 750,000.00 4.~~35702~~34774% ~~749~~748,~~024~~046.3661 2,~~719~~710.6026 0.00 0.00 B5 563,000.00 4.~~35702~~34774% ~~562~~561,~~267~~533.6266 2,~~041~~034.5150 0.00 0.00 B6 1,130,223.00 4.~~35702~~34774% 1,~~128~~127,~~752~~279.7532 4,~~098~~084.3327 0.00 0.00 Totals 375,446,323.00 1,~~316~~242,~~184~~721.0179 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 (64,191.41) 0.00 1,~~047~~114,~~808~~497.9653 0.00 ~~331~~314,~~762~~717,~~922~~239.0941 AIO (9,428.87) 0.00 ~~153~~161,~~909~~139.2322 0.00 ~~331~~314,~~762~~717,~~922~~239.0941 AR 0.00 0.00 0.00 0.00 0.00 B1 (785.80) 0.00 1214,~~826~~351.6956 0.00 3,~~744~~739,~~222~~295.6678 B2 (628.59) 0.00 1011,~~260~~480.6748 0.00 2,~~995~~991,~~178~~237.6541 B3 (432.04) 0.00 7,~~052~~890.2968 0.00 2,~~058~~055,~~624~~915.2842 B4 (156.99) 0.00 2,~~562~~867.6125 0.00 ~~748~~747,~~046~~062.6129 B5 (117.85) 0.00 12,~~923~~152.6635 0.00 ~~561~~560,~~533~~794.6676 B6 (236.58) 0.00 34,~~861~~320.7585 0.00 1,~~127~~125,~~279~~795.3298 Totals (75,978.13) 0.00 1,~~240~~318,~~205~~699.8692 0.00 (4) Amount Does Not Include Excess Special Hazard, 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 364,182,000.00 3.79900% ~~964~~910.~~49151122~~98110859 32.~~05341939~~88401437 0.00000000 0.00000000 AIO 0.00 0.~~55802~~54874% ~~964~~910.~~49151122~~98110859 0.~~44850679~~41657839 0.00000000 0.00000000 AR 100.00 4.~~35275~~34864% 0.00000000 0.00000000 0.00000000 0.00000000 B1 3,754,000.00 4.~~35702~~34774% ~~998~~997.~~69915290~~39548748 3.~~62612946~~61368141 0.00000000 0.00000000 B2 3,003,000.00 4.~~35702~~34774% ~~998~~997.~~69915418~~39548785 3.~~62613054~~61368298 0.00000000 0.00000000 B3 2,064,000.00 4.~~35702~~34774% ~~998~~997.~~69915213~~39548450 3.~~62612888~~61368217 0.00000000 0.00000000 B4 750,000.00 4.~~35702~~34774% ~~998~~997.~~69914667~~39548000 3.~~62613333~~61368000 0.00000000 0.00000000 B5 563,000.00 4.~~35702~~34774% ~~998~~997.~~69914742~~39548845 3.~~62612789~~61367673 0.00000000 0.00000000 B6 1,130,223.00 4.~~35702~~34774% ~~998~~997.~~69915052~~39548744 3.~~62612511~~61368509 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 (0.17626190) 0.00000000 23.~~87715747~~06027626 0.00000000 ~~910~~864.~~98110859~~17571272 AIO (0.02589054) 0.00000000 0.~~42261625~~44246893 0.00000000 ~~910~~864.~~98110859~~17571272 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B1 (0.20932339) 0.00000000 3.~~41680607~~82300479 0.00000000 ~~997~~996.~~39548748~~08305274 B2 (0.20932068) 0.00000000 3.~~41680653~~82300366 0.00000000 ~~997~~996.~~39548785~~08305361 B3 (0.20932171) 0.00000000 3.~~41680717~~82300388 0.00000000 ~~997~~996.~~39548450~~08305233 B4 (0.20932000) 0.00000000 3.~~41681333~~82300000 0.00000000 ~~997~~996.~~39548000~~08305333 B5 (0.20932504) 0.00000000 3.~~41680284~~82300178 0.00000000 ~~997~~996.~~39548845~~08305506 B6 (0.20932152) 0.00000000 3.~~41680359~~82300661 0.00000000 ~~997~~996.~~39548744~~08305618 (6) Amount Does Not Include Excess Special Hazard, 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 2018,~~854~~484,~~604~~117.1757 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 23,~~150~~235.4775 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2018,~~856~~487,~~754~~353.6432 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~114~~108,~~338~~187.5520 Payment of Interest and Principal 2018,~~742~~379,~~416~~166.0912 Total Withdrawals (Pool Distribution Amount) 2018,~~856~~487,~~754~~353.6432 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall (75,978.13) Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall (75,978.13)

SERVICING FEES Gross Servicing Fee ~~113~~107,~~281~~186.2680 Trustee Fee 1,~~057~~000.2940 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~114~~108,~~338~~187.5520

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 1 0 0 0 1 ~~414~~623,~~248~~228.7532 0.00 0.00 0.00 ~~414~~623,~~248~~228.7532 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 ~~414~~623,~~248~~228.7532 0.00 0.00 0.00 ~~414~~623,~~248~~228.7532 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.~~130039~~136612% 0.000000% 0.000000% 0.000000% 0.~~130039~~136612% 0.~~120642~~190998% 0.000000% 0.000000% 0.000000% 0.~~120642~~190998% 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.~~130039~~136612% 0.000000% 0.000000% 0.000000% 0.~~130039~~136612% 0.~~120642~~190998% 0.000000% 0.000000% 0.000000% 0.~~120642~~190998%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 23,~~150~~235.4775

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 100,000.00 0.02663497% 100,000.00 0.~~02915471~~03068074% Fraud 11,263,390.00 3.00000008% 11,263,390.00 3.~~28380816~~45569180% Special Hazard 9,323,880.00 2.48341226% 8,817,080.86 2.~~57059394~~70514597% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description 5/1 CMT ARM Weighted Average Gross Coupon 4.~~735523~~726243% Weighted Average Pass-Through Rate 4.~~357023~~347743% Weighted Average Maturity(Stepdown Calculation ) ~~354~~353 Beginning Scheduled Collateral Loan Count ~~811~~769 Number Of Loans Paid In Full 4237 Ending Scheduled Collateral Loan Count ~~769~~732 Beginning Scheduled Collateral Balance ~~362~~342,~~500~~997,~~018~~808.4622 Ending Scheduled Collateral Balance ~~342~~325,~~997~~937,~~808~~342.2201 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 ~~343~~326,~~370~~300,~~323~~488.2011 Monthly P &I Constant 1,~~903~~802,~~717~~246.2201 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 2018,~~599~~095,~~525~~988.8380 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~342~~325,~~997~~937,~~808~~342.2201 Scheduled Principal ~~473~~451,~~194~~336.6793 Unscheduled Principal 1916,~~029~~609,~~015~~129.5728

Miscellaneous Reporting Rolling 6 Month Delinquency Percentage 0.000000% Senior Percentage 96.~~896670~~724502% Senior Prepayment Percentage 100.000000% Subordinate Percentage 3.~~103330~~275498% Subordinate Prepayment Percentage 0.000000%

Filing Compare · PROVIDENT FUNDING MORTGAGE PASS-THROUGH CERT SERIES 2003-1