8-K 1 mlm03a03.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 MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Pass-Through Certificates, Series 2003-A03 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-101760-05 54-2116958 Pooling and Servicing Agreement) (Commission 54-2116959 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, Maryland 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 MERRILL LYNCH MORTGAGE INVESTORS, INC., Mortgage Pass-Through Certificates, Series 2003-A03 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-A03 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. MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Pass-Through Certificates, Series 2003-A03 Trust By: Wells Fargo Bank Minnesota, N.A. as Master Servicer By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 1/2/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-A03 Trust, relating to the December 26, 2003 distribution. EX-99.1

Merrill Lynch Mortgage Loans, Inc. Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 MLM Series: 2003-A03 Contact: CTSLink Customer Service Wells Fargo Bank Minnesota, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 Telephone: (301) 815-6600 Fax: (301) 815-6600 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A 589929R26 SEN 3.88000% ~~304~~280,~~263~~772,~~259~~538.3334 ~~983~~907,~~784~~831.5421 153,~~525~~887,~~282~~331.8049 I-A-IO 589929R34 SEN 1.~~26234~~24665% 0.00 ~~320~~291,~~068~~688.7207 0.00 M-1 589929R42 SUB 5.~~14234~~12665% 4,~~777~~776,~~263~~909.0893 20,~~471~~407.9196 ~~180~~179.1358 M-2 589929R59 SUB 5.~~14234~~12665% 2,122,~~672~~515.5765 9,~~096~~067.2583 8079.0479 M-3 589929R67 SUB 5.~~14234~~12665% 884,~~863~~798.5009 3,~~791~~780.8904 33.3626 B-1 589929R75 SUB 5.~~14234~~12665% 707,~~890~~838.8047 3,~~033~~024.5103 26.6961 B-2 589929R83 SUB 5.~~14234~~12665% 530,~~918~~878.1086 2,~~275~~268.1303 2019.0296 B-3 589929R91 SUB 5.~~14234~~12665% ~~708~~707,~~045~~993.7440 3,~~034~~024.1770 26.7062 R-I 589929S25 SEN 0.00000% 0.00 0.00 0.00 R-II 589929S33 SEN 0.00000% 0.00 0.00 0.00 Totals ~~313~~290,~~994~~503,~~913~~472.1274 1,~~345~~241,~~556~~091.1287 153,~~525~~887,~~649~~697.7431

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 ~~288~~276,~~737~~885,~~976~~206.5386 164,~~509~~795,~~067~~162.3470 0.00 I-A-IO 0.00 0.00 ~~320~~291,~~068~~688.7207 0.00 M-1 0.00 4,~~777~~776,~~082~~730.9535 20,~~652~~587.0454 0.00 M-2 0.00 2,122,~~592~~435.5386 9,~~176~~147.2962 0.00 M-3 0.00 884,~~830~~764.1483 3,~~825~~813.2530 0.00 B-1 0.00 707,~~864~~811.1186 3,~~060~~050.2064 0.00 B-2 0.00 530,~~898~~858.0890 2,~~295~~287.1599 0.00 B-3 0.00 ~~708~~707,~~019~~966.0478 3,~~060~~051.8732 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 ~~298~~286,~~469~~615,~~263~~775.3844 165,~~871~~128,~~205~~789.8618 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 344,168,000.00 ~~304~~280,~~263~~772,~~259~~538.3334 1110,~~472~~554.5099 153,~~513~~876,~~810~~776.3050 0.00 0.00 I-A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 4,778,000.00 4,~~777~~776,~~263~~909.0893 ~~180~~179.1358 0.00 0.00 0.00 M-2 2,123,000.00 2,122,~~672~~515.5765 8079.0479 0.00 0.00 0.00 M-3 885,000.00 884,~~863~~798.5009 33.3626 0.00 0.00 0.00 B-1 708,000.00 707,~~890~~838.8047 26.6961 0.00 0.00 0.00 B-2 531,000.00 530,~~918~~878.1086 2019.0296 0.00 0.00 0.00 B-3 708,154.96 ~~708~~707,~~045~~993.7440 26.7062 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 353,901,154.96 ~~313~~290,~~994~~503,~~913~~472.1274 1110,~~839~~920.4481 153,~~513~~876,~~810~~776.3050 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 153,~~525~~887,~~282~~331.8049 ~~288~~276,~~737~~885,~~976~~206.5386 0.~~83894487~~80450596 153,~~525~~887,~~282~~331.8049 I-A-IO 0.00 0.00 0.00000000 0.00 M-1 ~~180~~179.1358 4,~~777~~776,~~082~~730.9535 0.~~99980807~~99973427 ~~180~~179.1358 M-2 8079.0479 2,122,~~592~~435.5386 0.~~99980807~~99973427 8079.0479 M-3 33.3626 884,~~830~~764.1483 0.~~99980807~~99973427 33.3626 B-1 26.6961 707,~~864~~811.1186 0.~~99980806~~99973427 26.6961 B-2 2019.0296 530,~~898~~858.0890 0.~~99980806~~99973427 2019.0296 B-3 26.7062 ~~708~~707,~~019~~966.0478 0.~~99980806~~99973427 26.7062 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 153,~~525~~887,~~649~~697.7431 ~~298~~286,~~469~~615,~~263~~775.3844 0.~~84336900~~80987522 153,~~525~~887,~~649~~697.7431

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 344,168,000.00 ~~884~~815.~~05447145~~80082500 0.~~03333401~~03066813 4511.~~07627176~~26419801 0.00000000 I-A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 4,778,000.00 999.~~84576810~~77185643 0.~~03769987~~03758476 0.00000000 0.00000000 M-2 2,123,000.00 999.~~84577014~~77185586 0.~~03770137~~03758361 0.00000000 0.00000000 M-3 885,000.00 999.~~84576271~~77185311 0.~~03769492~~03758192 0.00000000 0.00000000 B-1 708,000.00 999.~~84576271~~77185028 0.~~03769774~~03758475 0.00000000 0.00000000 B-2 531,000.00 999.~~84576271~~77186441 0.~~03770245~~03758945 0.00000000 0.00000000 B-3 708,154.96 999.~~84576822~~77185784 0.~~03770361~~03759064 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) 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 I-A 0.00000000 4511.~~10960577~~29486614 ~~838~~804.~~94486568~~50595889 0.~~83894487~~80450596 4511.~~10960577~~29486614 I-A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.~~03769987~~03758476 999.~~80806823~~73427166 0.~~99980807~~99973427 0.~~03769987~~03758476 M-2 0.00000000 0.~~03770137~~03758361 999.~~80806877~~73427226 0.~~99980807~~99973427 0.~~03770137~~03758361 M-3 0.00000000 0.~~03769492~~03758192 999.~~80806780~~73427119 0.~~99980807~~99973427 0.~~03769492~~03758192 B-1 0.00000000 0.~~03769774~~03758475 999.~~80806497~~73426554 0.~~99980806~~99973427 0.~~03769774~~03758475 B-2 0.00000000 0.~~03770245~~03758945 999.~~80806026~~73427495 0.~~99980806~~99973427 0.~~03770245~~03758945 B-3 0.00000000 0.~~03770361~~03759064 999.~~80806461~~73426720 0.~~99980806~~99973427 0.~~03770361~~03759064 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 344,168,000.00 3.88000% ~~304~~280,~~263~~772,~~259~~538.3334 ~~983~~907,~~784~~831.5421 0.00 0.00 I-A-IO 0.00 1.~~26234~~24665% ~~304~~280,~~263~~772,~~259~~538.3334 ~~320~~291,~~068~~688.7207 0.00 0.00 M-1 4,778,000.00 5.~~14234~~12665% 4,~~777~~776,~~263~~909.0893 20,~~471~~407.9196 0.00 0.00 M-2 2,123,000.00 5.~~14234~~12665% 2,122,~~672~~515.5765 9,~~096~~067.2583 0.00 0.00 M-3 885,000.00 5.~~14234~~12665% 884,~~863~~798.5009 3,~~791~~780.8904 0.00 0.00 B-1 708,000.00 5.~~14234~~12665% 707,~~890~~838.8047 3,~~033~~024.5103 0.00 0.00 B-2 531,000.00 5.~~14234~~12665% 530,~~918~~878.1086 2,~~275~~268.1303 0.00 0.00 B-3 708,154.96 5.~~14234~~12665% ~~708~~707,~~045~~993.7440 3,~~034~~024.1770 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 353,901,154.96 1,~~345~~241,~~556~~091.1287 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 ~~983~~907,~~784~~831.5421 0.00 ~~288~~276,~~737~~885,~~976~~206.5386 I-A-IO 0.00 0.00 ~~320~~291,~~068~~688.7207 0.00 ~~288~~276,~~737~~885,~~976~~206.5386 M-1 0.00 0.00 20,~~471~~407.9196 0.00 4,~~777~~776,~~082~~730.9535 M-2 0.00 0.00 9,~~096~~067.2583 0.00 2,122,~~592~~435.5386 M-3 0.00 0.00 3,~~791~~780.8904 0.00 884,~~830~~764.1483 B-1 0.00 0.00 3,~~033~~024.5103 0.00 707,~~864~~811.1186 B-2 0.00 0.00 2,~~275~~268.1303 0.00 530,~~898~~858.0890 B-3 0.00 0.00 3,~~034~~024.1770 0.00 ~~708~~707,~~019~~966.0478 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 1,~~345~~241,~~556~~091.1287 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 344,168,000.00 3.88000% ~~884~~815.~~05447145~~80082500 2.~~85844280~~63775601 0.00000000 0.00000000 I-A-IO 0.00 1.~~26234~~24665% ~~884~~815.~~05447145~~80082500 0.~~92997815~~84751653 0.00000000 0.00000000 M-1 4,778,000.00 5.~~14234~~12665% 999.~~84576810~~77185643 4.~~28461909~~27123483 0.00000000 0.00000000 M-2 2,123,000.00 5.~~14234~~12665% 999.~~84577014~~77185586 4.~~28462082~~27123410 0.00000000 0.00000000 M-3 885,000.00 5.~~14234~~12665% 999.~~84576271~~77185311 4.~~28462147~~27123164 0.00000000 0.00000000 B-1 708,000.00 5.~~14234~~12665% 999.~~84576271~~77185028 4.~~28461864~~27122881 0.00000000 0.00000000 B-2 531,000.00 5.~~14234~~12665% 999.~~84576271~~77186441 4.~~28461394~~27124294 0.00000000 0.00000000 B-3 708,154.96 5.~~14234~~12665% 999.~~84576822~~77185784 4.~~28461307~~27124029 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) 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 I-A 0.00000000 0.00000000 2.~~85844280~~63775601 0.00000000 ~~838~~804.~~94486568~~50595889 I-A-IO 0.00000000 0.00000000 0.~~92997815~~84751653 0.00000000 ~~838~~804.~~94486568~~50595889 M-1 0.00000000 0.00000000 4.~~28461909~~27123483 0.00000000 999.~~80806823~~73427166 M-2 0.00000000 0.00000000 4.~~28462082~~27123410 0.00000000 999.~~80806877~~73427226 M-3 0.00000000 0.00000000 4.~~28462147~~27123164 0.00000000 999.~~80806780~~73427119 B-1 0.00000000 0.00000000 4.~~28461864~~27122881 0.00000000 999.~~80806497~~73426554 B-2 0.00000000 0.00000000 4.~~28461394~~27124294 0.00000000 999.~~80806026~~73427495 B-3 0.00000000 0.00000000 4.~~28461307~~27124029 0.00000000 999.~~80806461~~73426720 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 165,~~907~~175,~~965~~282.5256 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 2814,~~692~~062.0804 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 165,~~936~~189,~~657~~344.60 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 6560,~~451~~555.7442 Payment of Interest and Principal 165,~~871~~128,~~205~~789.8618 Total Withdrawals (Pool Distribution Amount) 165,~~936~~189,~~657~~344.60 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 6560,~~451~~555.7442 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 6560,~~451~~555.7442

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 1 322,162.00 0.00 0.00 322,162.00 30 Days 98 0 0 0 98 32,~~520~~688,~~939~~749.6044 0.00 0.00 0.00 32,~~520~~688,~~939~~749.6044 60 Days 21 0 0 0 21 2598,~~258,000~~835.0089 0.00 0.00 0.00 2598,~~258,000~~835.0089 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 10 0 0 0 10 ~~593,200~~0.00 0.00 0.00 0.00 ~~593,200~~0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 01 0 0 0 01 090,615.0082 0.00 0.00 0.00 090,615.0082 Totals 1210 1 0 0 1311 63,~~372~~378,~~139~~201.6015 322,162.00 0.00 0.00 63,~~694~~700,~~301~~363.6015 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.~~142653~~147710% 0.000000% 0.000000% 0.~~142653~~147710% 0.~~107934~~112398% 0.000000% 0.000000% 0.~~107934~~112398% 30 Days 1.~~283880~~181684% 0.000000% 0.000000% 0.000000% 1.~~283880~~181684% 10.~~179625~~938071% 0.000000% 0.000000% 0.000000% 10.~~179625~~938071% 60 Days 0.~~285307~~147710% 0.000000% 0.000000% 0.000000% 0.~~285307~~147710% 0.~~756501~~208926% 0.000000% 0.000000% 0.000000% 0.~~756501~~208926% 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.~~142653~~000000% 0.000000% 0.000000% 0.000000% 0.~~142653~~000000% 0.~~198741~~000000% 0.000000% 0.000000% 0.000000% 0.~~198741~~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~~147710% 0.000000% 0.000000% 0.000000% 0.~~000000~~147710% 0.~~000000~~031615% 0.000000% 0.000000% 0.000000% 0.~~000000~~031615% Totals 1.~~711840~~477105% 0.~~142653~~147710% 0.000000% 0.000000% 1.~~854494~~624815% 21.~~134867~~178612% 0.~~107934~~112398% 0.000000% 0.000000% 21.~~242801~~291010%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 2814,~~692~~062.0804

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 100,000.00 0.02825648% 100,000.00 0.~~03350429~~03488991% Fraud 7,078,023.00 1.99999997% 7,078,023.00 2.~~37144117~~46951620% Special Hazard 1,769,506.00 0.50000006% 1,769,506.00 0.~~59286038~~61737914% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~392474~~376792% Weighted Average Net Coupon 5.~~142336~~126651% Weighted Average Pass-Through Rate 5.~~142336~~126651% Weighted Average Maturity(Stepdown Calculation ) ~~351~~349 Beginning Scheduled Collateral Loan Count ~~734~~686 Number Of Loans Paid In Full 339 Ending Scheduled Collateral Loan Count ~~701~~677 Beginning Scheduled Collateral Balance ~~313~~290,~~994~~503,~~913~~472.1375 Ending Scheduled Collateral Balance ~~298~~286,~~469~~615,~~263~~775.3945 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~298~~286,~~479~~625,~~477~~375.0831 Monthly P &I Constant 1,~~422~~312,~~847~~568.3009 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 ~~298~~286,~~469~~615,~~263~~775.3945 Scheduled Principal 1110,~~839~~920.4480 Unscheduled Principal 153,~~513~~876,~~810~~776.3050

Filing Compare · MORTGAGE PASS THROUGH CERTIFICATES MLMI SERIES 2003-A3