8-K 1 thb02002.txt DECEMBER 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): December 26, 2003 THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-2 Trust (Exact name of registrant as specified in its charter) Delaware (governing law of 333-68542-02 90-0087266 Pooling and Servicing Agreement) (Commission 90-0102899 (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 December 26, 2003 a distribution was made to holders of THORNBURG MORTGAGE SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2002-2 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 2002-2 Trust, relating to the December 26, 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. THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-2 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 1/5/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-2 Trust, relating to the December 26, 2003 distribution. EX-99.1

Thornburg Mortgage Home Loans, Inc. Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 THB Series: 2002-2 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 885220BC6 SEN 2.~~71767~~70385% 7977,~~212~~538,~~881~~531.8785 ~~180~~174,~~690~~710.2536 6657,~~716~~740.1615 II-A 885220BD4 SEN 5.~~08716~~02936% 5145,~~276~~439,~~492~~215.2832 ~~218~~190,~~945~~441.5484 2,~~412~~580,~~977~~258.2701 III-A 885220BE2 SEN 5.~~67182~~65899% 6762,~~458~~800,~~181~~766.8245 ~~321~~296,~~143~~157.7126 21,~~947~~722,~~061~~761.5343 B-1 885220BF9 SUB 4.~~79634~~75293% 5,~~539~~334,~~459~~911.7619 2221,~~300~~130.7739 9583,~~172~~195.7747 B-2 885220BG7 SUB 4.~~79634~~75293% 3,~~693~~556,~~064~~694.0094 14,~~867~~087.5427 6355,~~450~~465.0701 B-3 885220BH5 SUB 4.~~79634~~75293% 2,~~077~~000,~~376~~668.8924 87,~~363~~924.1120 3531,~~691~~199.1550 B-4 885220BL6 SUB 4.~~79634~~75293% ~~692~~666,~~307~~743.5862 2,~~787~~640.0982 1110,~~894~~397.4556 B-5 885220BM4 SUB 4.~~79634~~75293% ~~461~~444,~~689~~641.7754 1,~~858~~761.6713 76,~~932~~933.2398 B-6 885220BN2 SUB 4.~~79634~~75293% 1,~~385~~333,~~036~~892.4598 5,~~575~~283.8825 2320,~~796~~801.1444 R-I 885220BJ1 SEN 0.00000% 0.00 0.00 0.00 R-II 885220BK8 SEN 0.00000% 0.00 0.00 0.00 Totals ~~211~~199,~~796~~116,~~490~~066.4213 ~~776~~714,~~532~~136.5652 54,~~664~~568,~~691~~752.7755

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 7977,~~146~~480,~~165~~791.7270 ~~247~~232,~~406~~450.4151 0.00 II-A 0.00 4842,~~863~~858,~~515~~957.0131 2,~~631~~770,~~922~~699.8185 0.00 III-A 0.00 6461,~~511~~078,~~120~~005.2903 32,~~268~~018,~~205~~918.2469 0.00 B-1 0.00 5,~~444~~251,~~286~~715.9972 ~~117~~104,~~473~~325.5486 0.00 B-2 0.00 3,~~629~~501,~~613~~229.9392 7869,~~317~~552.6128 0.00 B-3 0.00 21,~~041~~969,~~685~~468.7374 4439,~~054~~123.2670 0.00 B-4 0.00 ~~680~~656,~~413~~346.1306 1413,~~681~~038.5438 0.00 B-5 0.00 ~~453~~437,~~757~~707.5356 98,~~790~~695.9011 0.00 B-6 0.00 1,~~361~~313,~~240~~091.3253 2926,~~372~~084.0269 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 ~~206~~194,~~131~~547,~~798~~313.6557 65,~~441~~282,~~224~~889.3307 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 101,467,800.00 7977,~~212~~538,~~881~~531.8785 1110,~~879~~718.5978 5447,~~836~~021.5637 0.00 0.00 II-A 190,548,600.00 5145,~~276~~439,~~492~~215.2832 3531,~~862~~442.6732 2,~~377~~548,~~114~~815.5969 0.00 0.00 III-A 200,966,400.00 6762,~~458~~800,~~181~~766.8245 1817,~~658~~856.1681 21,~~928~~704,~~403~~904.3762 0.00 0.00 B-1 6,098,700.00 5,~~539~~334,~~459~~911.7619 2,~~267~~150.8085 9281,~~904~~044.9663 0.00 0.00 B-2 4,065,900.00 3,~~693~~556,~~064~~694.0094 1,~~511~~433.9193 6154,~~938~~031.1708 0.00 0.00 B-3 2,287,100.00 2,~~077~~000,~~376~~668.8924 ~~850~~806.4660 3430,~~840~~392.6990 0.00 0.00 B-4 762,200.00 ~~692~~666,~~307~~743.5862 ~~283~~268.4281 1110,~~611~~128.0375 0.00 0.00 B-5 508,300.00 ~~461~~444,~~689~~641.7754 ~~189~~179.0126 76,~~743~~754.2272 0.00 0.00 B-6 1,524,863.83 1,~~385~~333,~~036~~892.4598 ~~567~~537.0278 2320,~~229~~263.1267 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 Totals 508,229,963.83 ~~211~~199,~~796~~116,~~490~~066.4213 7265,~~070~~395.0414 54,~~592~~503,~~621~~357.7143 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 6657,~~716~~740.1615 7977,~~146~~480,~~165~~791.7270 0.~~78001263~~76359980 6657,~~716~~740.1615 II-A 2,~~412~~580,~~977~~258.2701 4842,~~863~~858,~~515~~957.0131 0.~~25643597~~22492402 2,~~412~~580,~~977~~258.2701 III-A 21,~~947~~722,~~061~~761.5343 6461,~~511~~078,~~120~~005.2903 0.~~32100451~~30392148 21,~~947~~722,~~061~~761.5343 B-1 9583,~~172~~195.7747 5,~~444~~251,~~286~~715.9972 0.~~89269631~~86112052 9583,~~172~~195.7747 B-2 6355,~~450~~465.0701 3,~~629~~501,~~613~~229.9392 0.~~89269631~~86112052 6355,~~450~~465.0701 B-3 3531,~~691~~199.1550 21,~~041~~969,~~685~~468.7374 0.~~89269631~~86112052 3531,~~691~~199.1550 B-4 1110,~~894~~397.4556 ~~680~~656,~~413~~346.1306 0.~~89269631~~86112052 1110,~~894~~397.4556 B-5 76,~~932~~933.2398 ~~453~~437,~~757~~707.5356 0.~~89269630~~86112052 76,~~932~~933.2398 B-6 2320,~~796~~801.1444 1,~~361~~313,~~240~~091.3253 0.~~89269631~~86112052 2320,~~796~~801.1444 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 54,~~664~~568,~~691~~752.7755 ~~206~~194,~~131~~547,~~798~~313.6557 0.~~40558765~~38279387 54,~~664~~568,~~691~~752.7755

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 101,467,800.00 ~~780~~764.~~67014235~~16884815 0.~~11707744~~10563726 0.~~54043312~~46341174 0.00000000 II-A 190,548,600.00 ~~269~~238.~~09928638~~46522787 0.~~18820747~~16500945 1213.~~47510918~~37619741 0.00000000 III-A 200,966,400.00 ~~335~~312.~~66895670~~49386191 0.~~09284219~~08885470 148.~~57160685~~48353068 0.00000000 B-1 6,098,700.00 ~~908~~874.~~30172988~~76202961 0.~~37184974~~35267352 1513.~~23356781~~28883697 0.00000000 B-2 4,065,900.00 ~~908~~874.~~30172901~~76203055 0.~~37185125~~35267223 1513.~~23356944~~28883642 0.00000000 B-3 2,287,100.00 ~~908~~874.~~30173145~~76203052 0.~~37185082~~35267369 1513.~~23356653~~28883739 0.00000000 B-4 762,200.00 ~~908~~874.~~30173183~~76203096 0.~~37184466~~35267646 1513.~~23357387~~28883495 0.00000000 B-5 508,300.00 ~~908~~874.~~30173126~~76203030 0.~~37184733~~35266575 1513.~~23356286~~28884517 0.00000000 B-6 1,524,863.83 ~~908~~874.~~30172685~~76203039 0.~~37184960~~35267411 1513.~~23357007~~28883904 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes Are Per $1000 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 0.~~65751066~~56904900 ~~780~~763.~~01263179~~59979915 0.~~78001263~~76359980 0.~~65751066~~56904900 II-A 0.00000000 1213.~~66331671~~54120686 ~~256~~224.~~43596967~~92402101 0.~~25643597~~22492402 1213.~~66331671~~54120686 III-A 0.00000000 148.~~66444903~~57238538 ~~321~~303.~~00450767~~92147658 0.~~32100451~~30392148 148.~~66444903~~57238538 B-1 0.00000000 1513.~~60541919~~64150885 ~~892~~861.~~69631069~~12052077 0.~~89269631~~86112052 1513.~~60541919~~64150885 B-2 0.00000000 1513.~~60541823~~64150865 ~~892~~861.~~69631078~~12051944 0.~~89269631~~86112052 1513.~~60541823~~64150865 B-3 0.00000000 1513.~~60541734~~64151108 ~~892~~861.~~69630974~~12051944 0.~~89269631~~86112052 1513.~~60541734~~64151108 B-4 0.00000000 1513.~~60541853~~64151141 ~~892~~861.~~69631330~~12051955 0.~~89269631~~86112052 1513.~~60541853~~64151141 B-5 0.00000000 1513.~~60541019~~64151092 ~~892~~861.~~69630140~~12051938 0.~~89269630~~86112052 1513.~~60541019~~64151092 B-6 0.00000000 1513.~~60541967~~64150660 ~~892~~861.~~69631374~~12051723 0.~~89269631~~86112052 1513.~~60541967~~64150660 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, 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 101,467,800.00 2.~~71767~~70385% 7977,~~212~~538,~~881~~531.8785 ~~179~~174,~~395~~710.4436 0.00 0.00 II-A 190,548,600.00 5.~~08716~~02936% 5145,~~276~~439,~~492~~215.2832 ~~217~~190,~~376~~441.6084 0.00 0.00 III-A 200,966,400.00 5.~~67182~~65899% 6762,~~458~~800,~~181~~766.8245 ~~318~~296,~~842~~157.4227 0.00 0.00 B-1 6,098,700.00 4.~~79634~~75293% 5,~~539~~334,~~459~~911.7619 2221,~~140~~130.9639 0.00 0.00 B-2 4,065,900.00 4.~~79634~~75293% 3,~~693~~556,~~064~~694.0094 14,~~761~~087.0027 0.00 0.00 B-3 2,287,100.00 4.~~79634~~75293% 2,~~077~~000,~~376~~668.8924 87,~~303~~924.1820 0.00 0.00 B-4 762,200.00 4.~~79634~~75293% ~~692~~666,~~307~~743.5862 2,~~767~~640.1282 0.00 0.00 B-5 508,300.00 4.~~79634~~75293% ~~461~~444,~~689~~641.7754 1,~~845~~761.3513 0.00 0.00 B-6 1,524,863.83 4.~~79634~~75293% 1,~~385~~333,~~036~~892.4598 5,~~535~~283.9325 0.00 0.00 R-I 50.00 0.00000% 0.00 0.00 0.00 0.00 R-II 50.00 0.00000% 0.00 0.00 0.00 0.00 Totals 508,229,963.83 ~~770~~714,~~968~~136.0053 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 ~~180~~174,~~690~~710.2536 0.00 7977,~~146~~480,~~165~~791.7270 II-A 0.00 0.00 ~~218~~190,~~945~~441.5484 0.00 4842,~~863~~858,~~515~~957.0131 III-A 0.00 0.00 ~~321~~296,~~143~~157.7126 0.00 6461,~~511~~078,~~120~~005.2903 B-1 0.00 0.00 2221,~~300~~130.7739 0.00 5,~~444~~251,~~286~~715.9972 B-2 0.00 0.00 14,~~867~~087.5427 0.00 3,~~629~~501,~~613~~229.9392 B-3 0.00 0.00 87,~~363~~924.1120 0.00 21,~~041~~969,~~685~~468.7374 B-4 0.00 0.00 2,~~787~~640.0982 0.00 ~~680~~656,~~413~~346.1306 B-5 0.00 0.00 1,~~858~~761.6713 0.00 ~~453~~437,~~757~~707.5356 B-6 0.00 0.00 5,~~575~~283.8825 0.00 1,~~361~~313,~~240~~091.3253 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 ~~776~~714,~~532~~136.5652 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 I-A 101,467,800.00 2.~~71767~~70385% ~~780~~764.~~67014235~~16884815 1.~~76800364~~72183057 0.00000000 0.00000000 II-A 190,548,600.00 5.~~08716~~02936% ~~269~~238.~~09928638~~46522787 10.~~14079348~~99943972 0.00000000 0.00000000 III-A 200,966,400.00 5.~~67182~~65899% ~~335~~312.~~66895670~~49386191 1.~~58654591~~47366560 0.00000000 0.00000000 B-1 6,098,700.00 4.~~79634~~75293% ~~908~~874.~~30172988~~76202961 3.~~63043927~~46473675 0.00000000 0.00000000 B-2 4,065,900.00 4.~~79634~~75293% ~~908~~874.~~30172901~~76203055 3.~~63043853~~46473597 0.00000000 0.00000000 B-3 2,287,100.00 4.~~79634~~75293% ~~908~~874.~~30173145~~76203052 3.~~63044030~~46473700 0.00000000 0.00000000 B-4 762,200.00 4.~~79634~~75293% ~~908~~874.~~30173183~~76203096 3.~~63043821~~46473367 0.00000000 0.00000000 B-5 508,300.00 4.~~79634~~75293% ~~908~~874.~~30173126~~76203030 3.~~63043478~~46474523 0.00000000 0.00000000 B-6 1,524,863.83 4.~~79634~~75293% ~~908~~874.~~30172685~~76203039 3.~~63044220~~46473560 0.00000000 0.00000000 R-I 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes Are Per $1000 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.~~78076444~~72183057 0.00000000 ~~780~~763.~~01263179~~59979915 II-A 0.00000000 0.00000000 10.~~14902728~~99943972 0.00000000 ~~256~~224.~~43596967~~92402101 III-A 0.00000000 0.00000000 1.~~59799703~~47366555 0.00000000 ~~321~~303.~~00450767~~92147658 B-1 0.00000000 0.00000000 3.~~65664322~~46473675 0.00000000 ~~892~~861.~~69631069~~12052077 B-2 0.00000000 0.00000000 3.~~65664183~~46473597 0.00000000 ~~892~~861.~~69631078~~12051944 B-3 0.00000000 0.00000000 3.~~65664378~~46473700 0.00000000 ~~892~~861.~~69630974~~12051944 B-4 0.00000000 0.00000000 3.~~65663868~~46473367 0.00000000 ~~892~~861.~~69631330~~12051955 B-5 0.00000000 0.00000000 3.~~65663978~~46474523 0.00000000 ~~892~~861.~~69630140~~12051938 B-6 0.00000000 0.00000000 3.~~65664126~~46473560 0.00000000 ~~892~~861.~~69631374~~12051723 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, 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 65,~~495~~342,~~468~~627.7165 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 010,727.0031 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~5,564~~0.5700 Total Deposits 65,~~501~~353,~~033~~354.2896 Withdrawals Reimbursement for Servicer Advances 014,101.0049 Payment of Service Fee 5956,~~808~~364.9540 Payment of Interest and Principal 65,~~441~~282,~~224~~889.3307 Total Withdrawals (Pool Distribution Amount) 65,~~501~~353,~~033~~354.2896 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 5552,~~511~~323.2299 Master Servicing Fee- Wells Fargo 3,~~971~~733.2144 Trustee Fee - Deutsche Bank ~~326~~306.5297 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 5956,~~808~~364.9540

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 01 0 0 0 01 0349,872.0034 0.00 0.00 0.00 0349,872.0034 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 01 0 0 0 01 0349,872.0034 0.00 0.00 0.00 0349,872.0034 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~523560% 0.000000% 0.000000% 0.000000% 0.~~000000~~523560% 0.~~000000~~434516% 0.000000% 0.000000% 0.000000% 0.~~000000~~434516% 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~~523560% 0.000000% 0.000000% 0.000000% 0.~~000000~~523560% 0.~~000000~~434516% 0.000000% 0.000000% 0.000000% 0.~~000000~~434516% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 31 0 0 0 3 1 407,~~348,017~~982.5954 0.00 0.00 0.00 1407,~~348,017~~982.5954 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 1 0 0 1 0~~.00~~ 1 256,325.00 0.00 0.00 0.00 256,325.00 Totals 32 10 0 0 42 1664,~~348,017~~307.5954 ~~256,325~~0.00 0.00 0.00 1664,~~604,342~~307.5954 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~222222~~819672% 0.000000% 0.000000% 0.000000% 20.~~222222~~819672% 20.~~494306~~854852% 0.000000% 0.000000% 0.000000% 20.~~494306~~854852% 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~~819672% 0.~~740741~~000000% 0.000000% 0.000000% 0.~~740741~~819672% 0.~~000000~~537082% 0.~~474291~~000000% 0.000000% 0.000000% 0.~~474291~~537082% Totals 21.~~222222~~639344% 0.~~740741~~000000% 0.000000% 0.000000% 21.~~962963~~639344% 21.~~494306~~391934% 0.~~474291~~000000% 0.000000% 0.000000% 21.~~968598~~391934% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 32 0 0 0 32 1545,~~017,993~~846.7755 0.00 0.00 0.00 1545,~~017,993~~846.7755 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 10 0 0 0 10 ~~531,098~~0.8900 0.00 0.00 0.00 ~~531,098~~0.8900 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 01 0 01 0.00 0.00 0531,098.0089 0.00 0531,098.0089 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 42 0 01 0 43 1545,~~549,092~~846.6655 0.00 0531,098.0089 0.00 1,~~549~~076,~~092~~945.6644 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~562500~~104972% 0.000000% 0.000000% 0.000000% 1.~~562500~~104972% 10.~~455689~~822550% 0.000000% 0.000000% 0.000000% 10.~~455689~~822550% 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.~~520833~~000000% 0.000000% 0.000000% 0.000000% 0.~~520833~~000000% 0.~~759449~~000000% 0.000000% 0.000000% 0.000000% 0.~~759449~~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~~552486% 0.000000% 0.~~000000~~552486% 0.000000% 0.000000% 0.~~000000~~800326% 0.000000% 0.~~000000~~800326% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 21.~~083333~~104972% 0.000000% 0.~~000000~~552486% 0.000000% 21.~~083333~~657459% 20.~~215138~~822550% 0.000000% 0.~~000000~~800326% 0.000000% 21.~~215138~~622876%

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~707029~~643528% Weighted Average Net Coupon 4.~~392512~~328191% Weighted Average Pass-Through Rate 4.~~368162~~303841% Weighted Average Maturity(Stepdown Calculation ) ~~345~~343 Beginning Scheduled Collateral Loan Count ~~538~~505 Number Of Loans Paid In Full 1811 Ending Scheduled Collateral Loan Count ~~520~~494 Beginning Scheduled Collateral Balance ~~211~~199,~~796~~116,~~490~~066.4213 Ending Scheduled Collateral Balance ~~206~~194,~~131~~547,~~798~~313.6558 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~206~~194,~~193~~605,~~970~~898.0361 Monthly P &I Constant ~~902~~835,~~846~~896.9703 Special Servicing Fee 0.00 Prepayment Penalties ~~5,564~~0.5700 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 65,~~142~~022,~~369~~069.4104 Ending Scheduled Balance for Premium Loans ~~206~~194,~~131~~547,~~798~~313.6558 Scheduled Principal 7265,~~070~~395.0514 Unscheduled Principal 54,~~592~~503,~~621~~357.7241

Miscellaneous Reporting Senior Percentage Group 1 96.~~278508~~239692% Senior Prepayment Percentage Group 1 98.~~139254~~119846% Subordinate Percentage Group 1 3.~~721492~~760308% Subordinate Prepayment Percentage (1) 1.~~860746~~880154% Senior Percentage Group 2 90.~~685348~~133837% Senior Prepayment Percentage Group 2 95.~~342674~~066918% Subordinate Percentage Group 2 9.~~314652~~866163% Subordinate Prepayment Percentage (2) 4.~~657326~~933082% Senior Percentage Group 3 92.~~435747~~171250% Senior Prepayment Percentage Group 3 96.~~217874~~085625% Subordinate Percentage Group 3 7.~~564253~~828750% Subordinate Prepayment Percentage (3) 3.~~782126~~914375%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~116396~~102560 5.~~418465~~358837 5.~~949068~~936434 Weighted Average Net Rate 2.~~742021~~728198 5.~~111514~~053711 5.~~696174~~683337 Weighted Average Maturity ~~345~~343 ~~345~~343 ~~345~~343 Beginning Loan Count ~~193~~191 ~~142~~127 ~~203~~187 Loans Paid In Full 0 75 116 Ending Loan Count ~~193~~191 ~~135~~122 ~~192~~181 Beginning Scheduled Balance 8280,~~274~~568,~~729~~141.3482 5650,~~543~~413,~~304~~049.2401 7268,~~978~~134,~~456~~875.8430 Ending scheduled Balance 8280,~~206~~509,~~514~~081.2885 5447,~~010~~697,~~525~~089.4165 6966,~~914~~341,~~758~~142.9608 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~226~~219,~~005~~443.9886 ~~294~~260,~~861~~013.1848 ~~381~~356,~~979~~438.8169 Scheduled Principal 1211,~~338~~137.7859 3934,~~546~~884.2704 2019,~~185~~373.0051 Unscheduled Principal 5547,~~876~~922.2838 2,~~493~~681,~~232~~075.5632 31,~~043~~774,~~512~~359.8871 Scheduled Interest ~~213~~208,~~667~~306.2027 ~~255~~225,~~314~~129.9144 ~~361~~337,~~794~~065.8118 Servicing Fees 25,~~668~~134.0272 1412,~~463~~818.3564 1514,~~379~~370.8563 Master Servicing Fees 1,~~542~~510.6765 ~~1,060~~945.1926 1,~~368~~277.3553 Trustee Fee ~~126~~124.8420 8777.1772 ~~112~~105.5105 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 ~~186~~181,~~329~~536.6770 ~~239~~211,~~704~~287.2082 ~~344~~321,~~934~~311.1097 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.000000 0.000000 0.000000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 2.~~717671~~703848 5.~~087164~~029361 5.~~671824~~658987

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 4.~~707029~~643528 Weighted Average Net Rate 4.~~392512~~328191 Weighted Average Maturity ~~345~~343 Beginning Loan Count ~~538~~505 Loans Paid In Full 1811 Ending Loan Count ~~520~~494 Beginning Scheduled Balance ~~211~~199,~~796~~116,~~490~~066.4213 Ending scheduled Balance ~~206~~194,~~131~~547,~~798~~313.6558 Record Date 0911/30/2003 Principal And Interest Constant ~~902~~835,~~846~~896.9703 Scheduled Principal 7265,~~070~~395.0514 Unscheduled Principal 54,~~592~~503,~~621~~357.7241 Scheduled Interest ~~830~~770,~~776~~500.9289 Servicing Fees 5552,~~511~~323.2299 Master Servicing Fees 3,~~971~~733.2144 Trustee Fee ~~326~~306.5297 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest ~~770~~714,~~967~~136.9749 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.000000 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 4.~~368162~~303841

Filing Compare · THORNBURG MORTGAGE SECURITIES TRUST 2002-2