8-K 1 bsl03001.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 BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-30 54-2120433 Pooling and Servicing Agreement) (Commission 54-2120432 (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 BEAR STEARNS ALT-A 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. BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust By: Wells Fargo Bank Minnesota, N.A., as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, 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

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 89/3130/03 Distribution Date: 910/2527/03 BSL 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 I-A 07386HBF7 SEN 1.~~49000~~50000% ~~292~~274,~~495~~229,~~043~~282.8153 ~~375~~365,~~287~~639.3903 1814,~~265~~181,~~761~~835.2808 II-A 07386HBG5 SEN 1.~~41000~~42000% ~~160~~134,~~826~~004,~~375~~737.6592 ~~195~~169,~~270~~143.0275 2612,~~821~~569,~~637~~889.7312 M 07386HBH3 SUB 2.~~21000~~22000% 15,804,800.00 3031,~~077~~188.4114 0.00 B-IO 07386HBK6 SUB 0.00000% 0.00 1,434,499.80 0.00 OC BSL03001X SUB 0.00000% 3,160,951.00 ~~1,599,684~~0.3900 0.00 XP 07386HBJ9 SEN 0.00000% 100.00 0.00 0.00 R-I 07386HBL4 RES 0.00000% 0.00 0.00 0.00 R-II 07386HBM2 RES 0.00000% 0.00 0.00 0.00 Totals ~~472~~427,~~287~~199,~~270~~871.4645 2,~~200~~000,~~319~~470.2172 4526,~~087~~751,~~399~~724.0120

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 ~~274~~260,~~229~~047,~~282~~447.5345 1814,~~641~~547,~~048~~474.6711 0.00 II-A 0.00 ~~134~~121,~~004~~434,~~737~~848.9280 2712,~~016~~739,~~907~~032.7587 0.00 M 0.00 15,804,800.00 3031,~~077~~188.4114 0.00 B-IO 0.00 0.00 1,434,499.80 0.00 OC 0.00 3,160,951.00 ~~1,599,684~~0.3900 0.00 XP 0.00 100.00 0.00 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 Totals 0.00 ~~427~~400,~~199~~448,~~871~~147.4525 4728,~~287~~752,~~718~~194.2292 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) I-A 346,987,400.00 ~~292~~274,~~495~~229,~~043~~282.8153 0.00 1814,~~265~~181,~~761~~835.2808 0.00 0.00 II-A 269,398,000.00 ~~160~~134,~~826~~004,~~375~~737.6592 0.00 2612,~~821~~569,~~637~~889.7312 0.00 0.00 M 15,804,800.00 15,804,800.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 OC 22.63 3,160,951.00 0.00 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 R-I 0.00 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 0.00 Totals 632,190,322.63 ~~472~~427,~~287~~199,~~270~~871.4645 0.00 4526,~~087~~751,~~399~~724.0120 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 I-A 1814,~~265~~181,~~761~~835.2808 ~~274~~260,~~229~~047,~~282~~447.5345 0.~~79031481~~74944349 1814,~~265~~181,~~761~~835.2808 II-A 2612,~~821~~569,~~637~~889.7312 ~~134~~121,~~004~~434,~~737~~848.9280 0.~~49742291~~45076374 2612,~~821~~569,~~637~~889.7312 M 0.00 15,804,800.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 OC 0.00 3,160,951.00 139,679.67300044 0.00 XP 0.00 100.00 1.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 4526,~~087~~751,~~399~~724.0120 ~~427~~400,~~199~~448,~~871~~147.4525 0.~~67574567~~63342973 4526,~~087~~751,~~399~~724.0120

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 346,987,400.00 ~~842~~790.~~95580707~~31481411 0.00000000 5240.~~64099296~~87132582 0.00000000 II-A 269,398,000.00 ~~596~~497.~~98429703~~42291301 0.00000000 9946.~~56138401~~65917757 0.00000000 M 15,804,800.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 22.63 139679673.00044200 0.00000000 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) 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 I-A 0.00000000 5240.~~64099296~~87132582 ~~790~~749.~~31481411~~44348829 0.~~79031481~~74944349 5240.~~64099296~~87132582 II-A 0.00000000 9946.~~56138401~~65917757 ~~497~~450.~~42291301~~76373544 0.~~49742291~~45076374 9946.~~56138401~~65917757 M 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 39,679,673.00044200 139679.67300044 0.00000000 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 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 I-A 346,987,400.00 1.~~49000~~50000% ~~292~~274,~~495~~229,~~043~~282.8153 ~~375~~365,~~287~~639.3904 0.00 0.00 II-A 269,398,000.00 1.~~41000~~42000% ~~160~~134,~~826~~004,~~375~~737.6592 ~~195~~169,~~270~~143.0276 0.00 0.00 M 15,804,800.00 2.~~21000~~22000% 15,804,800.00 3031,~~077~~188.4114 0.00 0.00 B-IO 0.00 0.00000% 427,199,771.45 0.00 0.00 0.00 OC 22.63 0.00000% 3,160,951.00 0.00 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 R-I 0.00 0.00000% 0.00 0.00 0.00 0.00 R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 632,190,322.63 ~~600~~565,~~634~~970.8294 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 I-A 0.00 0.00 ~~375~~365,~~287~~639.3903 0.00 ~~274~~260,~~229~~047,~~282~~447.5345 II-A 0.00 0.00 ~~195~~169,~~270~~143.0275 0.00 ~~134~~121,~~004~~434,~~737~~848.9280 M 0.00 0.00 3031,~~077~~188.4114 0.00 15,804,800.00 B-IO 0.00 0.00 1,~~599~~434,~~684~~499.3980 0.00 400,448,047.25 OC 0.00 0.00 0.00 0.00 3,160,951.00 XP 0.00 0.00 0.00 0.00 100.00 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,~~200~~000,~~319~~470.2172 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 I-A 346,987,400.00 1.~~49000~~50000% ~~842~~790.~~95580707~~31481411 1.~~08155913~~05375308 0.00000000 0.00000000 II-A 269,398,000.00 1.~~41000~~42000% ~~596~~497.~~98429703~~42291301 0.~~72483842~~62785826 0.00000000 0.00000000 M 15,804,800.00 2.~~21000~~22000% 1000.00000000 1.~~90305540~~97333342 0.00000000 0.00000000 B-IO 0.00 0.00000% 675.74561605 0.00000000 0.00000000 0.00000000 OC 22.63 0.00000% 139679673.00044200 0.00000000 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) 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 I-A 0.00000000 0.00000000 1.~~08155913~~05375305 0.00000000 ~~790~~749.~~31481411~~44348829 II-A 0.00000000 0.00000000 0.~~72483842~~62785822 0.00000000 ~~497~~450.~~42291301~~76373544 M 0.00000000 0.00000000 1.~~90305540~~97333342 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 ~~70688660~~2.~~62748560~~26909520 0.00000000 633.42967499 OC 0.00000000 0.00000000 0.00000000 0.00000000 139679673.00044200 XP 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 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 4728,~~435~~891,~~101~~841.4300 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 7764,~~521~~354.4057 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 4728,~~512~~956,~~622~~195.8357 Withdrawals Reimbursement for Servicer Advances 8577,~~279~~521.5840 Payment of Service Fee ~~139~~126,~~625~~479.0325 Payment of Interest and Principal 4728,~~287~~752,~~718~~194.2292 Total Withdrawals (Pool Distribution Amount) 4728,~~512~~956,~~622~~195.8357 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~102~~92,~~952~~530.1306 Additional Servicing Fee 3330,~~016~~295.0969 Miscellaneous Fee 3,~~656~~653.8150 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~139~~126,~~625~~479.0325

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 1 0 0 1 280,~~887~~349.9816 0.00 0.00 280,~~887~~349.9816 30 Days 27 0 0 0 27 7,~~918~~201,~~103~~331.2583 0.00 0.00 0.00 7,~~918~~201,~~103~~331.2583 60 Days 74 0 0 0 74 1,~~989~~172,~~089~~554.3195 0.00 0.00 0.00 1,~~989~~172,~~089~~554.3195 90 Days 23 0 20 0 43 ~~491~~873,~~035~~094.7320 0.00 ~~137,814~~0.7900 0.00 ~~628~~873,~~850~~094.5220 120 Days 2 0 0 2 0 2 ~~785,443.63~~ 0.00 0.00 137,814.79 0.00 ~~785~~137,~~443~~814.6379 150 Days 10 0 0 0 10 ~~957,683~~0.2000 0.00 0.00 0.00 ~~957,683~~0.2000 180+ Days 01 0 0 0 01 0957,683.0020 0.00 0.00 0.00 0957,683.0020 Totals 3935 1 2 0 4238 1210,~~141~~204,~~355~~664.1218 280,~~887~~349.9816 137,814.79 0.00 1210,~~560~~622,~~057~~828.8913 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.~~074738~~078678% 0.000000% 0.000000% 0.~~074738~~078678% 0.~~065695~~069948% 0.000000% 0.000000% 0.~~065695~~069948% 30 Days 2.~~017937~~124312% 0.000000% 0.000000% 0.000000% 2.~~017937~~124312% 1.~~851916~~796755% 0.000000% 0.000000% 0.000000% 1.~~851916~~796755% 60 Days 0.~~523169~~314713% 0.000000% 0.000000% 0.000000% 0.~~523169~~314713% 0.~~465216~~292556% 0.000000% 0.000000% 0.000000% 0.~~465216~~292556% 90 Days 0.~~149477~~236035% 0.000000% 0.~~149477~~000000% 0.000000% 0.~~298954~~236035% 0.~~114845~~217840% 0.000000% 0.~~032233~~000000% 0.000000% 0.~~147078~~217840% 120 Days 0.~~149477~~000000% 0.000000% 0.~~000000~~157356% 0.000000% 0.~~149477~~157356% 0.~~183702~~000000% 0.000000% 0.~~000000~~034385% 0.000000% 0.~~183702~~034385% 150 Days 0.~~074738~~000000% 0.000000% 0.000000% 0.000000% 0.~~074738~~000000% 0.~~223987~~000000% 0.000000% 0.000000% 0.000000% 0.~~223987~~000000% 180+ Days 0.~~000000~~078678% 0.000000% 0.000000% 0.000000% 0.~~000000~~078678% 0.~~000000~~238945% 0.000000% 0.000000% 0.000000% 0.~~000000~~238945% Totals 2.~~914798~~753737% 0.~~074738~~078678% 0.~~149477~~157356% 0.000000% 32.~~139013~~989772% 2.~~839665~~546096% 0.~~065695~~069948% 0.~~032233~~034385% 0.000000% 2.~~937593~~650429%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 1 0 0 1 280,~~887~~349.9816 0.00 0.00 280,~~887~~349.9816 30 Days 18 0 0 0 18 4,~~908~~378,~~887~~277.7649 0.00 0.00 0.00 4,~~908~~378,~~887~~277.7649 60 Days 32 0 0 0 32 ~~834~~573,~~322~~266.4078 0.00 0.00 0.00 ~~834~~573,~~322~~266.4078 90 Days 10 0 10 0 20 ~~182,912~~0.7100 0.00 ~~67,634~~0.9800 0.00 ~~250,547~~0.6900 120 Days 0 0 01 0 01 0.00 0.00 067,634.0098 0.00 067,634.0098 150 Days 10 0 0 0 10 ~~957,683~~0.2000 0.00 0.00 0.00 ~~957,683~~0.2000 180 Days 01 0 0 0 01 0957,683.0020 0.00 0.00 0.00 0957,683.0020 Totals 2321 1 1 0 2523 65,~~883~~909,~~806~~227.0747 280,~~887~~349.9816 67,634.98 0.00 76,~~232~~257,~~329~~211.0361 0-29 Days 0.~~102145~~106270% 0.000000% 0.000000% 0.~~102145~~106270% 0.~~098736~~103721% 0.000000% 0.000000% 0.~~098736~~103721% 30 Days 1.~~838611~~912859% 0.000000% 0.000000% 0.000000% 1.~~838611~~912859% 1.~~725543~~619830% 0.000000% 0.000000% 0.000000% 1.~~725543~~619830% 60 Days 0.~~306435~~212540% 0.000000% 0.000000% 0.000000% 0.~~306435~~212540% 0.~~293276~~212091% 0.000000% 0.000000% 0.000000% 0.~~293276~~212091% 90 Days 0.~~102145~~000000% 0.000000% 0.~~102145~~000000% 0.000000% 0.~~204290~~000000% 0.~~064296~~000000% 0.000000% 0.~~023775~~000000% 0.000000% 0.~~088071~~000000% 120 Days 0.000000% 0.000000% 0.~~000000~~106270% 0.000000% 0.~~000000~~106270% 0.000000% 0.000000% 0.~~000000~~025023% 0.000000% 0.~~000000~~025023% 150 Days 0.~~102145~~000000% 0.000000% 0.000000% 0.000000% 0.~~102145~~000000% 0.~~336639~~000000% 0.000000% 0.000000% 0.000000% 0.~~336639~~000000% 180 Days 0.~~000000~~106270% 0.000000% 0.000000% 0.000000% 0.~~000000~~106270% 0.~~000000~~354314% 0.000000% 0.000000% 0.000000% 0.~~000000~~354314% Totals 2.~~349336~~231668% 0.~~102145~~106270% 0.~~102145~~106270% 0.000000% 2.~~553626~~444208% 2.~~419754~~186235% 0.~~098736~~103721% 0.~~023775~~025023% 0.000000% 2.~~542265~~314978% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 9 0 0 0 9 32,~~009~~823,~~215~~054.4934 0.00 0.00 0.00 32,~~009~~823,~~215~~054.4934 60 Days 42 0 0 0 42 1599,~~154,766~~288.9117 0.00 0.00 0.00 1599,~~154,766~~288.9117 90 Days 13 0 10 0 23 ~~308~~873,~~123~~094.0220 0.00 ~~70,179~~0.8100 0.00 ~~378~~873,~~302~~094.8320 120 Days 2 0 0 1 0 21 ~~785,443.63~~ 0.00 0.00 70,179.81 0.00 ~~785~~70,~~443~~179.6381 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 1614 0 1 0 1715 54,~~257~~295,~~549~~436.0571 0.00 70,179.81 0.00 54,~~327~~365,~~728~~616.8652 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.~~506964~~727273% 0.000000% 0.000000% 0.000000% 2.~~506964~~727273% 2.~~103182~~163193% 0.000000% 0.000000% 0.000000% 2.~~103182~~163193% 60 Days 10.~~114206~~606061% 0.000000% 0.000000% 0.000000% 10.~~114206~~606061% 0.~~807082~~459210% 0.000000% 0.000000% 0.000000% 0.~~807082~~459210% 90 Days 0.~~278552~~909091% 0.000000% 0.~~278552~~000000% 0.000000% 0.~~557103~~909091% 0.~~215351~~669017% 0.000000% 0.~~049050~~000000% 0.000000% 0.~~264401~~669017% 120 Days 0.~~557103~~000000% 0.000000% 0.~~000000~~303030% 0.000000% 0.~~557103~~303030% 0.~~548957~~000000% 0.000000% 0.~~000000~~053776% 0.000000% 0.~~548957~~053776% 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 4.~~456825~~242424% 0.000000% 0.~~278552~~303030% 0.000000% 4.~~735376~~545455% 3.~~674573~~291420% 0.000000% 0.~~049050~~053776% 0.000000% 3.~~723623~~345196%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 7764,~~521~~354.4057

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~068040~~032185% Weighted Average Net Coupon 5.~~806457~~772269% Weighted Average Pass-Through Rate 5.~~713277~~676906% Weighted Average Maturity(Stepdown Calculation ) ~~352~~351 Beginning Scheduled Collateral Loan Count 1,~~459~~338 Number Of Loans Paid In Full ~~121~~67 Ending Scheduled Collateral Loan Count 1,~~338~~271 Beginning Scheduled Collateral Balance ~~472~~427,~~287~~199,~~170~~771.4645 Ending Scheduled Collateral Balance ~~427~~400,~~199~~448,~~771~~047.4525 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 ~~427~~400,~~562~~796,~~876~~481.3977 Monthly P &I Constant 2,~~863~~576,~~915~~129.2153 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~427~~400,~~199~~448,~~771~~047.4525 Scheduled Principal ~~475~~428,~~700~~672.5774 Unscheduled Principal 4426,~~611~~323,~~698~~051.4446 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 3,160,951.00 Overcollateralized Amount 3,160,951.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 1,~~599~~434,~~684~~499.3878

Group Level Collateral Statement Group Group I Group II Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~688620~~700262 6.~~744350~~692449 6.~~068040~~032185 Weighted Average Net Rate 5.~~460152~~468865 6.~~423739~~375803 5.~~806457~~772269 Weighted Average Maturity ~~352~~351 ~~319~~318 ~~352~~351 Beginning Loan Count ~~1,037~~979 ~~422~~359 1,~~459~~338 Loans Paid In Full 5838 6329 ~~121~~67 Ending Loan Count ~~979~~941 ~~359~~330 1,~~338~~271 Beginning Scheduled Balance ~~302~~284,~~551~~285,~~344~~583.9870 ~~169~~142,~~735~~914,~~825~~187.4875 ~~472~~427,~~287~~199,~~170~~771.4645 Ending scheduled Balance ~~284~~270,~~285~~103,~~583~~748.7062 ~~142~~130,~~914~~344,~~187~~298.7563 ~~427~~400,~~199~~448,~~771~~047.4525 Record Date 0809/3130/2003 0809/3130/2003 0809/3130/2003 Principal And Interest Constant 1,~~691~~590,~~493~~011.1013 1986,~~172,422~~118.1140 2,~~863~~576,~~915~~129.2153 Scheduled Principal ~~257~~239,~~243~~592.3762 ~~218~~189,~~457~~080.2012 ~~475~~428,~~700~~672.5774 Unscheduled Principal 1813,~~008~~942,~~517~~242.9146 2612,~~603~~380,~~180~~809.5300 4426,~~611~~323,~~698~~051.4446 Scheduled Interest 1,~~434~~350,~~249~~418.7351 ~~953~~797,~~964~~038.9128 2,~~388~~147,~~214~~456.6479 Servicing Fees 5754,~~602~~819.8203 4537,~~349~~711.3103 ~~102~~92,~~952~~530.1306 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 3633,~~609~~885.0142 63.8977 3633,~~672~~949.9019 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 1,~~340~~261,~~037~~714.9006 ~~908~~759,~~551~~263.7148 2,~~248~~020,~~589~~977.6154 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 5.~~314951~~325831 6.~~423288~~375268 5.~~713277~~676906

Filing Compare · STRUCT ASS MORT INV INC BS ALTA MORT PAS THR CER SER 2003 1