8-K 1 abs03he1.txt NOVEMBER 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): November 17, 2003 ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Asset-Backed Pass-Through Certificates, Series 2003-HE1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-86750-03 54-2090849 Pooling and Servicing Agreement) (Commission 54-2090850 (State or other File Number) 54-2090851 jurisdiction 54-2090848 of Incorporation) 54-2090847 IRS EIN 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 November 17, 2003 a distribution was made to holders of ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST, Asset-Backed Pass-Through Certificates, Series 2003-HE1 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 Pass-Through Certificates, Series 2003-HE1 Trust, relating to the November 17, 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. ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Asset-Backed Pass-Through Certificates, Series 2003-HE1 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: 11/18/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Pass-Through Certificates, Series 2003-HE1 Trust, relating to the November 17, 2003 distribution. EX-99.1

Asset Backed Securities Corp Home Equity Loan Trust Asset-~~BAcked~~Backed Pass-Through Certificates Record Date: 910/3031/03 Distribution Date: 1011/1517/03 ABSC Series: 2003-HE1 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-IO 04541GDJ8 SEN IO 5.00000% 0.00 ~~333~~325,~~333~~000.3300 0.00 B-IO 00077SAB2 SUB IO 3.50000% 0.00 145,833.33 0.00 A1 04541GDE9 SEN 1.62000% ~~177~~167,~~386~~949,~~700~~376.3823 ~~239~~249,~~472~~404.0582 9,~~437~~185,~~324~~235.1545 A2 04541GDF6 SEN 1.62000% ~~116~~109,~~237~~854,~~095~~182.7160 ~~156~~163,~~920~~133.0846 67,~~382~~203,~~913~~598.1024 A3 04541GDG4 SEN 1.39000% ~~135~~124,~~976~~522,~~494~~959.8283 ~~157~~158,~~506~~663.1100 1112,~~453~~926,~~534~~176.98 A4 04541GDH2 SEN 1.71000% 72,600,000.00 ~~103~~113,~~455~~800.0050 0.00 M1 04541GDK5 MEZ 2.14000% 49,700,000.00 8897,~~631~~494.6783 0.00 M2 04541GDL3 MEZ 3.47000% 41,200,000.00 ~~119~~131,~~136~~050.6733 0.00 M3 04541GDM1 MEZ 4.62000% 28,800,000.00 ~~110~~121,~~880~~968.00 0.00 M4 04541GDN9 MEZ 5.62000% 11,242,900.00 5257,~~654~~919.2567 0.00 X 00077SAC0 SUB OC 0.00000% 0.01 2,~~485~~239,~~376~~042.7765 0.00 P 00077SAD8 SEN 0.00000% 100.00 ~~590~~535,~~255~~052.9739 0.00 CSFB SEN 0.00000% 0.00 0.00 0.00 Totals ~~633~~605,~~143~~869,~~290~~518.9267 4,~~583~~338,~~455~~362.2398 2729,~~273~~315,~~772~~010.2367

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 ~~333~~325,~~333~~000.3300 0.00 B-IO 0.00 0.00 145,833.33 0.00 A1 0.00 ~~167~~158,~~949~~764,~~376~~140.2378 9,~~676~~434,~~796~~640.2027 0.00 A2 0.00 ~~109~~102,~~854~~650,~~182~~584.6036 67,~~539~~366,~~833~~731.1870 0.00 A3 0.00 ~~124~~111,~~522~~596,~~959~~782.8385 1113,~~611~~084,~~041~~839.0998 0.00 A4 0.00 72,600,000.00 ~~103~~113,~~455~~800.0050 0.00 M1 0.00 49,700,000.00 8897,~~631~~494.6783 0.00 M2 0.00 41,200,000.00 ~~119~~131,~~136~~050.6733 0.00 M3 0.00 28,800,000.00 ~~110~~121,~~880~~968.00 0.00 M4 0.00 11,242,900.00 5257,~~654~~919.2567 0.00 X 0.00 0.01 2,~~485~~239,~~376~~042.7765 0.00 P 0.00 100.00 ~~590~~535,~~255~~052.9739 0.00 CSFB 0.00 0.00 0.00 0.00 Totals 0.00 ~~605~~576,~~869~~554,~~518~~508.6700 3133,~~857~~653,~~227~~373.4665 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-IO 0.00 0.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 A1 217,500,000.00 ~~177~~167,~~386~~949,~~700~~376.3823 0.00 9,~~437~~185,~~324~~235.1545 0.00 0.00 A2 143,000,000.00 ~~116~~109,~~237~~854,~~095~~182.7160 0.00 67,~~382~~203,~~913~~598.1024 0.00 0.00 A3 184,000,000.00 ~~135~~124,~~976~~522,~~494~~959.8283 0.00 1112,~~453~~926,~~534~~176.98 0.00 0.00 A4 72,600,000.00 72,600,000.00 0.00 0.00 0.00 0.00 M1 49,700,000.00 49,700,000.00 0.00 0.00 0.00 0.00 M2 41,200,000.00 41,200,000.00 0.00 0.00 0.00 0.00 M3 28,800,000.00 28,800,000.00 0.00 0.00 0.00 0.00 M4 11,242,900.00 11,242,900.00 0.00 0.00 0.00 0.00 X 0.00 0.01 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 CSFB 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Totals 748,043,000.00 ~~633~~605,~~143~~869,~~290~~518.9267 0.00 2729,~~273~~315,~~772~~010.2367 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-IO 0.00 0.00 0.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 A1 9,~~437~~185,~~324~~235.1545 ~~167~~158,~~949~~764,~~376~~140.2378 0.~~77218104~~72995007 9,~~437~~185,~~324~~235.1545 A2 67,~~382~~203,~~913~~598.1024 ~~109~~102,~~854~~650,~~182~~584.6036 0.~~76821107~~71783625 67,~~382~~203,~~913~~598.1024 A3 1112,~~453~~926,~~534~~176.98 ~~124~~111,~~522~~596,~~959~~782.8385 0.~~67675522~~60650425 1112,~~453~~926,~~534~~176.98 A4 0.00 72,600,000.00 1.00000000 0.00 M1 0.00 49,700,000.00 1.00000000 0.00 M2 0.00 41,200,000.00 1.00000000 0.00 M3 0.00 28,800,000.00 1.00000000 0.00 M4 0.00 11,242,900.00 1.00000000 0.00 X 0.00 0.01 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 CSFB 0.00 0.00 0.00000000 0.00 CSFB 0.00 0.00 0.00000000 0.00 Totals 2729,~~273~~315,~~772~~010.2367 ~~605~~576,~~869~~554,~~518~~508.6700 0.~~80993943~~77075049 2729,~~273~~315,~~772~~010.2367

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A1 217,500,000.00 ~~815~~772.~~57103623~~18104014 0.00000000 4342.~~38999609~~23096759 0.00000000 A2 143,000,000.00 ~~812~~768.~~84682315~~21106713 0.00000000 4450.~~63575594~~37481287 0.00000000 A3 184,000,000.00 ~~739~~676.~~00268924~~75521647 0.00000000 6270.~~24747272~~25096185 0.00000000 A4 72,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 49,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 41,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 28,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 11,242,900.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 CSFB 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 4342.~~38999609~~23096759 ~~772~~729.~~18104014~~95007255 0.~~77218104~~72995007 4342.~~38999609~~23096759 A2 0.00000000 4450.~~63575594~~37481287 ~~768~~717.~~21106713~~83625427 0.~~76821107~~71783625 4450.~~63575594~~37481287 A3 0.00000000 6270.~~24747272~~25096185 ~~676~~606.~~75521647~~50425462 0.~~67675522~~60650425 6270.~~24747272~~25096185 A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CSFB 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-IO 0.00 5.00000% 8078,000,000.00 ~~333~~325,~~333~~000.3300 0.00 0.00 B-IO 0.00 3.50000% 50,000,000.00 145,833.33 0.00 0.00 A1 217,500,000.00 1.62000% ~~177~~167,~~386~~949,~~700~~376.3823 ~~239~~249,~~472~~404.0582 0.00 0.00 A2 143,000,000.00 1.62000% ~~116~~109,~~237~~854,~~095~~182.7160 ~~156~~163,~~920~~133.0846 0.00 0.00 A3 184,000,000.00 1.39000% ~~135~~124,~~976~~522,~~494~~959.8283 ~~157~~158,~~506~~663.1100 0.00 0.00 A4 72,600,000.00 1.71000% 72,600,000.00 ~~103~~113,~~455~~800.0050 0.00 0.00 M1 49,700,000.00 2.14000% 49,700,000.00 8897,~~631~~494.6783 0.00 0.00 M2 41,200,000.00 3.47000% 41,200,000.00 ~~119~~131,~~136~~050.6733 0.00 0.00 M3 28,800,000.00 4.62000% 28,800,000.00 ~~110~~121,~~880~~968.00 0.00 0.00 M4 11,242,900.00 5.62000% 11,242,900.00 5257,~~654~~919.2567 0.00 0.00 X 0.00 0.00000% 0.01 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 CSFB 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 748,043,000.00 1,~~507~~564,~~822~~267.4994 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-IO 0.00 0.00 ~~333~~325,~~333~~000.3300 0.00 7876,000,000.00 B-IO 0.00 0.00 145,833.33 0.00 50,000,000.00 A1 0.00 0.00 ~~239~~249,~~472~~404.0582 0.00 ~~167~~158,~~949~~764,~~376~~140.2378 A2 0.00 0.00 ~~156~~163,~~920~~133.0846 0.00 ~~109~~102,~~854~~650,~~182~~584.6036 A3 0.00 0.00 ~~157~~158,~~506~~663.1100 0.00 ~~124~~111,~~522~~596,~~959~~782.8385 A4 0.00 0.00 ~~103~~113,~~455~~800.0050 0.00 72,600,000.00 M1 0.00 0.00 8897,~~631~~494.6783 0.00 49,700,000.00 M2 0.00 0.00 ~~119~~131,~~136~~050.6733 0.00 41,200,000.00 M3 0.00 0.00 ~~110~~121,~~880~~968.00 0.00 28,800,000.00 M4 0.00 0.00 5257,~~654~~919.2567 0.00 11,242,900.00 X ~~614~~504.8689 0.00 2,~~485~~239,~~376~~042.7765 0.00 0.01 P 0.00 0.00 ~~590~~535,~~255~~052.9739 0.00 100.00 CSFB 0.00 0.00 0.00 0.00 0.00 Totals ~~614~~504.8689 0.00 4,~~583~~338,~~455~~362.2398 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-IO 0.00 5.00000% ~~813~~792.~~00813008~~68292683 3.~~38753384~~30284553 0.00000000 0.00000000 B-IO 0.00 3.50000% 1000.00000000 2.91666660 0.00000000 0.00000000 A1 217,500,000.00 1.62000% ~~815~~772.~~57103623~~18104014 1.~~10102092~~14668883 0.00000000 0.00000000 A2 143,000,000.00 1.62000% ~~812~~768.~~84682315~~21106713 1.~~09734322~~14079343 0.00000000 0.00000000 A3 184,000,000.00 1.39000% ~~739~~676.~~00268924~~75521647 0.~~85601147~~86229891 0.00000000 0.00000000 A4 72,600,000.00 1.71000% 1000.00000000 1.~~42500000~~56750000 0.00000000 0.00000000 M1 49,700,000.00 2.14000% 1000.00000000 1.~~78333340~~96166660 0.00000000 0.00000000 M2 41,200,000.00 3.47000% 1000.00000000 23.~~89166675~~18083325 0.00000000 0.00000000 M3 28,800,000.00 4.62000% 1000.00000000 34.~~85000000~~23500000 0.00000000 0.00000000 M4 11,242,900.00 5.62000% 1000.00000000 45.~~68333348~~15166639 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 CSFB 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 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-IO 0.00000000 0.00000000 3.~~38753384~~30284553 0.00000000 ~~792~~772.~~68292683~~35772358 B-IO 0.00000000 0.00000000 2.91666660 0.00000000 1000.00000000 A1 0.00000000 0.00000000 1.~~10102092~~14668883 0.00000000 ~~772~~729.~~18104014~~95007255 A2 0.00000000 0.00000000 1.~~09734322~~14079343 0.00000000 ~~768~~717.~~21106713~~83625427 A3 0.00000000 0.00000000 0.~~85601147~~86229891 0.00000000 ~~676~~606.~~75521647~~50425462 A4 0.00000000 0.00000000 1.~~42500000~~56750000 0.00000000 1000.00000000 M1 0.00000000 0.00000000 1.~~78333340~~96166660 0.00000000 1000.00000000 M2 0.00000000 0.00000000 23.~~89166675~~18083325 0.00000000 1000.00000000 M3 0.00000000 0.00000000 34.~~85000000~~23500000 0.00000000 1000.00000000 M4 0.00000000 0.00000000 45.~~68333348~~15166639 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~5902559~~5350523.~~70000000~~90000000 0.00000000 1000.00000000 CSFB 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 3133,~~487~~460,~~743~~248.7351 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~466~~438,~~634~~296.2308 Realized Loss (Gains, Subsequent Expenses & Recoveries) (1633,~~261~~094.9902) Prepayment Penalties ~~590~~535,~~255~~052.9739 Total Deposits 3234,~~528~~400,~~371~~502.9496 Withdrawals Reimbursement for Servicer Advances ~~378~~466,~~726~~634.7823 Payment of Service Fee ~~292~~280,~~417~~495.7008 Payment of Interest and Principal 3133,~~857~~653,~~227~~373.4665 Total Withdrawals (Pool Distribution Amount) 3234,~~528~~400,~~371~~502.9496 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall ~~614~~504.8689

SERVICING FEES Gross Servicing Fee ~~269~~258,~~561~~067.3008 Strip Amount 22,~~856~~428.4000 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~292~~280,~~417~~495.7008

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 2826 23 10 3129 3,~~791~~931,~~198~~812.7515 ~~223~~310,~~986~~826.7712 ~~37,143~~0.6200 4,~~052~~242,~~329~~638.1427 30 Days ~~155~~134 0 2 5 0 ~~162~~136 2518,~~129~~567,~~773~~693.4093 ~~169,875~~0.4500 1166,~~040,864~~061.0605 0.00 2618,~~340~~733,~~512~~754.9198 60 Days 4642 24 68 0 54 67,~~847~~417,~~516~~926.6130 ~~448~~933,~~667~~899.4090 ~~524~~1,~~593~~072,360.6990 0.00 79,~~820~~424,~~777~~187.7010 90 Days 3542 21 ~~114~~132 34 ~~173~~199 6,~~444~~850,~~142~~514.1082 3,~~642~~148,~~307~~683.9179 1820,~~079~~209,~~618~~531.7033 ~~334~~438,~~739~~450.1325 2830,~~500~~647,~~807~~180.8419 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 ~~236~~218 5351 ~~127~~145 4 ~~420~~418 3832,~~421~~836,~~432~~135.1105 8,~~052~~014,~~049~~395.5184 1921,~~869~~758,~~063~~779.2240 ~~371~~438,~~882~~450.7525 6663,~~714~~047,~~427~~760.5954 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.~~675350~~650488% 0.~~048239~~075056% 0.~~024120~~000000% 0.~~747709~~725544% 0.~~611109~~665228% 0.~~036105~~052589% 0.~~005987~~000000% 0.~~653201~~717817% 30 Days 3.~~738543~~352514% 0.~~048239~~000000% 0.~~120598~~050038% 0.000000% 3.~~907381~~402552% 43.~~050707~~141490% 0.~~027382~~000000% 0.~~167778~~028096% 0.000000% 43.~~245868~~169586% 60 Days 1.~~109503~~050788% 0.~~048239~~100075% 0.~~144718~~200150% 0.000000% 1.~~302460~~351013% 1.~~103762~~255048% 0.~~072321~~158008% 0.~~084560~~181434% 0.000000% 1.~~260643~~594489% 90 Days 01.~~844187~~050788% 0.~~506512~~525394% 23.~~749638~~302477% 0.~~072359~~100075% 4.~~172697~~978734% 1.~~038741~~159047% 0.~~587109~~532729% 23.~~914282~~419274% 0.~~053957~~074182% 45.~~594089~~185232% 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 5.~~692233~~454091% 1.~~278341~~275957% 3.~~063193~~627721% 0.~~096479~~100075% 10.~~130246~~457843% 65.~~193210~~555584% 1.~~297922~~355965% 3.~~202725~~681393% 0.~~059944~~074182% 10.~~753802~~667124%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 1110 2 10 1412 1,~~701~~580,~~197~~648.2865 223,~~986~~880.7771 ~~37,143~~0.6200 1,~~962~~804,~~327~~529.6736 30 Days 7168 0 1 0 7269 98,~~272~~451,~~763~~329.1156 0.00 ~~297~~128,~~615~~375.5663 0.00 98,~~570~~579,~~378~~705.6719 60 Days 2215 01 63 0 2819 31,~~321~~954,~~039~~027.8928 061,830.0021 ~~524~~242,~~593~~173.6970 0.00 32,~~845~~258,~~633~~031.5819 90 Days 1015 67 4960 2 6784 12,~~529~~437,~~257~~086.6022 ~~610~~850,~~645~~305.6812 67,~~464~~635,~~098~~384.4075 254,~~291~~124.2975 811,~~858~~176,~~292~~900.9784 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 ~~103~~98 1718 5866 32 ~~181~~184 1412,~~123~~842,~~060~~443.6006 2,~~311~~492,~~842~~783.9698 78,~~510~~229,~~294~~814.4279 ~~291~~254,~~434~~124.9175 2423,~~236~~819,~~632~~166.8958 0-29 Days 43.~~166667~~875969% 0.~~757576~~775194% 0.~~378788~~000000% 54.~~303030~~651163% 54.~~024531~~792626% 0.~~661551~~678820% 0.~~109705~~000000% 5.~~795786~~471446% 30 Days 26.~~893939~~356589% 0.000000% 0.~~378788~~387597% 0.000000% 2726.~~272727~~744186% 2725.~~387348~~624962% 0.000000% 0.~~879015~~389243% 0.000000% 2826.~~266363~~014205% 60 Days 85.~~333333~~813953% 0.~~000000~~387597% 21.~~272727~~162791% 0.000000% 107.~~606061~~364341% 95.~~808778~~924733% 0.~~000000~~187473% 10.~~549401~~734286% 0.000000% 116.~~358179~~846492% 90 Days 35.~~787879~~813953% 2.~~272727~~713178% 1823.~~560606~~255814% 0.~~757576~~775194% 2532.~~378788~~558140% 47.~~516702~~389399% 12.~~803558~~578179% 1923.~~091883~~150966% 0.~~751056~~770522% 2633.~~163199~~889065% 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 3937.~~015152~~984496% 6.~~439394~~976744% 2125.~~969697~~581395% 10.~~136364~~775194% 6871.~~560606~~317829% 4138.~~712828~~939094% 67.~~828088~~558278% 2224.~~181850~~953315% 0.~~860761~~770522% 7172.~~583527~~221209% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 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 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 1716 01 0 17 2,~~090~~351,~~001~~163.4750 086,945.0041 0.00 2,~~090~~438,~~001~~108.4791 30 Days 8466 20 41 0 9067 1510,~~857~~116,~~010~~364.2937 ~~169,875~~0.4500 ~~743~~37,~~248~~685.5042 0.00 1610,~~770~~154,~~134~~049.2479 60 Days 2427 23 05 0 2635 35,~~526~~463,~~476~~899.7202 ~~448~~872,~~667~~069.4069 0830,187.0020 0.00 37,~~975~~166,~~144~~155.1291 90 Days 2527 1514 6572 12 ~~106~~115 4,~~914~~413,~~884~~428.5060 32,~~031~~298,~~662~~378.2367 1112,~~615~~574,~~520~~146.3058 80184,~~447~~325.8450 19,~~642~~470,~~514~~279.8735 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 ~~133~~120 3633 6979 12 ~~239~~234 2419,~~298~~993,~~371~~691.5199 5,~~740~~521,~~206~~611.5586 1213,~~358~~528,~~768~~964.8061 80184,~~447~~325.8450 4239,~~477~~228,~~794~~593.7096 0-29 Days 1.~~376518~~324503% 0.~~000000~~082781% 0.000000% 1.~~376518~~407285% 1.~~434660~~658283% 0.~~000000~~061323% 0.000000% 1.~~434660~~719606% 30 Days 65.~~801619~~463576% 0.~~161943~~000000% 0.~~323887~~082781% 0.000000% 75.~~287449~~546358% 107.~~884878~~135105% 0.~~116609~~000000% 0.~~510195~~026580% 0.000000% 117.~~511682~~161684% 60 Days 12.~~943320~~235099% 0.~~161943~~248344% 0.~~000000~~413907% 0.000000% 2.~~105263~~897351% 23.~~420713~~853706% 0.~~307983~~615074% 0.~~000000~~585534% 0.000000% 25.~~728696~~054313% 90 Days 2.~~024291~~235099% 1.~~214575~~158940% 5.~~263158~~960265% 0.~~080972~~165563% 89.~~582996~~519868% 3.~~373771~~112806% 21.~~081053~~621054% 78.~~973352~~868586% 0.~~055223~~130005% 13.~~483398~~732451% 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 109.~~769231~~933775% 2.~~914980~~731788% 56.~~587045~~539735% 0.~~080972~~165563% 19.~~352227~~370861% 1614.~~679361~~101616% 3.~~940304~~894411% 89.~~483547~~542023% 0.~~055223~~130005% 2927.~~158435~~668055% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~466~~438,~~634~~296.2308

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 7.~~980116~~972921% Weighted Average Net Coupon 7.~~480143~~473201% Weighted Average Pass-Through Rate 7.~~437750~~429772% Weighted Average Maturity(Stepdown Calculation ) ~~343~~342 Beginning Scheduled Collateral Loan Count 4,~~292~~146 Number Of Loans Paid In Full ~~146~~149 Ending Scheduled Collateral Loan Count 43,~~146~~997 Beginning Scheduled Collateral Balance ~~646~~619,~~982~~708,~~086~~314.9067 Ending Scheduled Collateral Balance ~~619~~590,~~708~~393,~~314~~303.6798 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2003 ~~620~~591,~~379~~047,~~929~~428.5707 Monthly P &I Constant 4,~~828~~625,~~524~~144.8899 Special Servicing Fee 0.00 Prepayment Penalties ~~590~~535,~~255~~052.9739 Realized Loss Amount 1633,~~261~~094.9902 Cumulative Realized Loss 4679,~~560~~654.9395 Ending Scheduled Balance for Premium Loans ~~619~~590,~~708~~393,~~314~~303.6798 Scheduled Principal ~~526~~509,~~031~~191.3769 Unscheduled Principal 2628,~~747~~805,~~740~~819.8600 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 13,838,796.00 Overcollateralized Amount 13,~~822~~805,~~534~~701.0199 Overcollateralized Deficiency Amount 1633,~~261~~094.9901 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 1633,~~261~~094.9901 Excess Cash Amount 2,~~502~~272,~~253~~641.6255

Miscellaneous Reporting Credit Enhancement Percentage 2324.~~360254~~517345% Payment under the CAP Agreement 0.00 A1 PTR (excl CAP) for Next Distribution 1.62 A2 PTR (excl CAP) for Next Distribution 1.62 A3 PTR (excl CAP) for Next Distribution 1.39 A4 PTR (excl CAP) for Next Distribution 1.71 M1 PTR (excl CAP) for Next Distribution 2.14 M2 PTR (excl CAP) for Next Distribution 3.47 M3 PTR (excl CAP) for Next Distribution 4.62 M4 PTR (excl CAP) for Next Distribution 5.62 OC Increase 1633,~~261~~094.9901 % of Prepayment Penalties Being Passed 9487.0296

Group Level Collateral Statement Group 1 1 2 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 87.~~024336~~969451 78.~~955970~~014156 7.~~964159~~961837 Weighted Average Net Rate 7.~~524413~~469451 7.~~455969~~514787 7.~~464159~~461837 Weighted Average Maturity ~~348~~347 ~~348~~347 ~~348~~347 Beginning Loan Count ~~269~~264 1,~~398~~347 1,~~269~~235 Loans Paid In Full 56 5150 3427 Ending Loan Count ~~264~~258 1,~~347~~297 1,~~235~~208 Beginning Scheduled Balance 3433,~~718~~819,~~574~~356.6084 ~~193~~185,~~792~~260,~~864~~385.5416 ~~151~~145,~~733~~505,~~959~~927.93 Ending scheduled Balance 3332,~~819~~943,~~356~~083.8414 ~~185~~176,~~260~~961,~~385~~792.1671 ~~145~~141,~~505~~611,~~927~~365.9344 Record Date 0910/3031/2003 0910/3031/2003 0910/3031/2003 Principal And Interest Constant ~~263~~257,~~570~~586.0650 1,~~439~~374,~~783~~028.7984 1,~~159~~113,~~375~~574.2507 Scheduled Principal 3332,~~571~~985.8209 ~~141~~136,~~738~~774.2814 ~~152~~148,~~347~~162.4906 Unscheduled Principal ~~865~~843,~~645~~288.9461 8,~~390~~161,~~741~~818.1031 63,~~075~~746,~~684~~400.5143 Scheduled Interest ~~229~~224,~~998~~601.2441 1,~~298~~237,~~045~~254.5170 1965,~~007,027~~412.7601 Servicing Fees 14,~~466~~091.0739 8077,~~747~~094.0242 6360,~~222~~627.4847 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 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 ~~215~~210,~~532~~510.1702 1,~~217~~160,~~298~~160.4928 ~~943~~904,~~805~~784.2854 Realized Loss Amount 0.00 0.00 ~~10,533~~0.8100 Cumulative Realized Loss 0.00 0.00 25,808.23 Percentage of Cumulative Losses 0.000000 0.000000 0.000150 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.~~482020~~469451 7.~~413576~~514787 7.~~464159~~461837

Group Level Collateral Statement Group 2 Total Collateral Description Fixed 15/30 & ARM Fixed & Mixed ARM Weighted Average Coupon Rate 7.~~951311~~942934 7.~~980116~~972921 Weighted Average Net Rate 7.~~451311~~443156 7.~~480143~~473201 Weighted Average Maturity ~~344~~ 343 342 Beginning Loan Count 1,~~356~~300 4,~~292~~146 Loans Paid In Full 5666 ~~146~~149 Ending Loan Count 1,~~300~~234 43,~~146~~997 Beginning Scheduled Balance ~~266~~255,~~736~~122,~~687~~644.8374 ~~646~~619,~~982~~708,~~086~~314.9067 Ending scheduled Balance ~~255~~238,~~122~~877,~~644~~062.7469 ~~619~~590,~~708~~393,~~314~~303.6798 Record Date 0910/3031/2003 0910/3031/2003 Principal And Interest Constant 1,~~965~~879,~~795~~955.7858 4,~~828~~625,~~524~~144.8899 Scheduled Principal ~~198~~191,~~373~~270.7840 ~~526~~509,~~031~~191.3769 Unscheduled Principal 1116,~~415~~054,~~669~~311.3165 2628,~~747~~805,~~740~~819.8600 Scheduled Interest 1,~~767~~688,~~422~~685.0018 4,~~302~~115,~~493~~953.5130 Servicing Fees ~~111~~106,~~140~~253.2880 ~~269~~258,~~575~~067.8508 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 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,~~656~~582,~~281~~431.7238 43,~~032~~857,~~917~~886.6622 Realized Loss Amount 533,~~728~~094.1802 1633,~~261~~094.9902 Cumulative Realized Loss 2053,~~752~~846.7072 4679,~~560~~654.9395 Percentage of Cumulative Losses 0.000172 0.000106 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.~~451311~~443156 7.~~437750~~429772

Filing Compare · ASSET BACKED SEC CORP HOME EQU LOAN TR SER 2003-HE1