8-K 1 thb03001.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 2003-1 Trust (Exact name of registrant as specified in its charter) Delaware (governing law of 333-99463-05 Pending Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) 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 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 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 2003-1 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 2003-1 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: 2003-1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 885220CR2 SEN 2.~~77776~~72243% ~~171~~168,~~037~~214,~~629~~299.9739 ~~395~~381,~~918~~626.5341 24,~~202~~231,~~960~~363.1070 A-R 885220CV3 SEN 2.~~88707~~87515% 0.00 0.00 0.00 A-2 885220CS0 SEN 4.~~30599~~29136% 7973,~~064~~943,~~781~~578.7574 ~~283~~264,~~709~~431.9387 3,~~633~~097,~~152~~384.9422 A-3 885220CT8 SEN 4.~~77723~~76576% ~~259~~241,~~983~~638,~~568~~163.3524 1959,~~035,000~~658.7769 114,~~237~~139,~~137~~232.4720 A-4 885220CU5 SEN 5.~~36550~~36521% 39,~~464~~282,~~005~~243.4920 ~~176~~175,~~453~~631.3217 81,~~297~~068,652.8691 B-1 885220CW1 SUB 4.~~24946~~22726% 7,~~732~~730,~~884~~290.3178 27,~~383~~231.8164 1,~~286~~314.8485 B-2 885220CX9 SUB 4.~~24946~~22726% 5,~~798~~796,~~414~~470.8714 20,~~533~~419.4333 ~~964~~985.92 B-3 885220CY7 SUB 4.~~24946~~22726% 4,~~638~~637,~~931~~375.6378 16,~~427~~336.4517 ~~771~~788.9777 B-4 885220CZ4 SUB 4.~~24946~~22726% 1,158,~~484~~096.5400 4,~~102~~079.4465 ~~192~~196.7898 B-5 885220DA8 SUB 4.~~24946~~22726% 770,~~991~~732.4485 2,~~730~~715.2507 ~~128~~131.3009 B-6 885220DB6 SUB 4.~~24946~~22726% 1,~~946~~945,~~217~~564.0834 6,~~891~~853.9768 ~~323~~330.8792 Totals ~~571~~545,~~595~~116,~~909~~814.4346 1,~~969~~858,~~151~~983.9068 1712,~~085~~540,~~217~~381.0556

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~168~~163,~~834~~982,~~669~~935.8769 24,~~598~~612,~~878~~990.6311 0.00 A-R 0.00 0.00 0.00 0.00 A-2 0.00 7570,~~431~~846,~~628~~194.8152 3,~~916~~361,~~862~~816.8709 0.00 A-3 0.00 ~~248~~237,~~746~~498,~~430~~931.8905 125,~~272~~098,~~138~~890.2489 0.00 A-4 0.00 3938,~~455~~213,~~707~~590.6330 ~~184~~1,~~751~~244,284.1808 0.00 B-1 0.00 7,~~731~~728,~~597~~975.4793 28,~~670~~546.6549 0.00 B-2 0.00 5,~~797~~795,~~449~~484.9521 21,~~498~~405.3525 0.00 B-3 0.00 4,~~638~~636,~~159~~587.6601 17,~~199~~124.4294 0.00 B-4 0.00 1,~~158~~157,~~291~~899.7602 4,~~295~~276.2263 0.00 B-5 0.00 770,~~863~~601.1376 2,~~858~~846.5516 0.00 B-6 0.00 1,945,~~893~~233.2041 7,~~215~~184.8460 0.00 Totals 0.00 ~~554~~532,~~510~~576,~~692~~432.3790 1914,~~054~~399,~~368~~365.9524 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-1 187,279,000.00 ~~171~~168,~~037~~214,~~629~~299.9739 5,~~162~~198.4938 24,~~197~~226,~~797~~165.6132 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 A-2 115,997,000.00 7973,~~064~~943,~~781~~578.7574 1514,~~070~~573.1275 3,~~618,~~082,810.8247 0.00 0.00 A-3 394,210,000.00 ~~259~~241,~~983~~638,~~568~~163.3524 6057,~~662~~491.3391 114,~~176~~081,~~475~~740.1429 0.00 0.00 A-4 54,914,000.00 39,~~464~~282,~~005~~243.4920 3,~~953~~994.8439 41,~~344~~064,658.0252 0.00 0.00 B-1 7,743,000.00 7,~~732~~730,~~884~~290.3178 1,~~286~~314.8485 0.00 0.00 0.00 B-2 5,806,000.00 5,~~798~~796,~~414~~470.8714 ~~964~~985.92 0.00 0.00 0.00 B-3 4,645,000.00 4,~~638~~637,~~931~~375.6378 ~~771~~788.9777 0.00 0.00 0.00 B-4 1,160,000.00 1,158,~~484~~096.5400 ~~192~~196.7898 0.00 0.00 0.00 B-5 772,000.00 770,~~991~~732.4485 ~~128~~131.3009 0.00 0.00 0.00 B-6 1,948,763.00 1,~~946~~945,~~217~~564.0834 ~~323~~330.8792 0.00 0.00 0.00 Totals 774,474,863.00 ~~571~~545,~~595~~116,~~909~~814.4346 8885,~~517~~006.4696 1612,~~996~~455,~~699~~374.5960 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-1 24,~~202~~231,~~960~~363.1070 ~~168~~163,~~834~~982,~~669~~935.8769 0.~~90151416~~87560771 24,~~202~~231,~~960~~363.1070 A-R 0.00 0.00 0.00000000 0.00 A-2 3,~~633~~097,~~152~~384.9422 7570,~~431~~846,~~628~~194.8152 0.~~65028948~~61075885 3,~~633~~097,~~152~~384.9422 A-3 114,~~237~~139,~~137~~232.4720 ~~248~~237,~~746~~498,~~430~~931.8905 0.~~63099980~~60246805 114,~~237~~139,~~137~~232.4720 A-4 81,~~297~~068,652.8691 3938,~~455~~213,~~707~~590.6330 0.~~71849998~~69588066 81,~~297~~068,652.8691 B-1 1,~~286~~314.8485 7,~~731~~728,~~597~~975.4793 0.~~99852738~~99818881 1,~~286~~314.8485 B-2 ~~964~~985.92 5,~~797~~795,~~449~~484.9521 0.~~99852738~~99818881 ~~964~~985.92 B-3 ~~771~~788.9777 4,~~638~~636,~~159~~587.6601 0.~~99852738~~99818881 ~~771~~788.9777 B-4 ~~192~~196.7898 1,~~158~~157,~~291~~899.7602 0.~~99852738~~99818881 ~~192~~196.7898 B-5 ~~128~~131.3009 770,~~863~~601.1376 0.~~99852737~~99818881 ~~128~~131.3009 B-6 ~~323~~330.8792 1,945,~~893~~233.2041 0.~~99852737~~99818880 ~~323~~330.8792 Totals 1712,~~085~~540,~~217~~381.0556 ~~554~~532,~~510~~576,~~692~~432.3790 0.~~71598281~~68766135 1712,~~085~~540,~~217~~381.0556

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 187,279,000.00 ~~913~~898.~~27714250~~20161038 0.~~02756577~~02775741 1122.~~73541940~~56614634 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A-2 115,997,000.00 ~~681~~637.~~61057398~~46113037 0.~~12991819~~12563903 3126.~~19117581~~57663965 0.00000000 A-3 394,210,000.00 ~~659~~612.~~50525951~~96812166 0.~~15388329~~14584082 2810.~~35157693~~35422818 0.00000000 A-4 54,914,000.00 ~~718~~715.~~65108151~~34113705 0.~~07200058~~07273901 019.~~07910587~~38774302 0.00000000 B-1 7,743,000.00 998.~~69356968~~35861811 0.~~16619398~~16981144 0.00000000 0.00000000 B-2 5,806,000.00 998.~~69357044~~35861867 0.~~16619359~~16981054 0.00000000 0.00000000 B-3 4,645,000.00 998.~~69356943~~35861787 0.~~16619376~~16981055 0.00000000 0.00000000 B-4 1,160,000.00 998.~~69356897~~35862069 0.~~16618966~~16981034 0.00000000 0.00000000 B-5 772,000.00 998.~~69357513~~35861399 0.~~16619171~~16980570 0.00000000 0.00000000 B-6 1,948,763.00 998.~~69357126~~35862031 0.~~16619261~~16981028 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 A-1 0.00000000 1122.~~76298517~~59390375 ~~901~~875.~~51415733~~60770663 0.~~90151416~~87560771 1122.~~76298517~~59390375 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 3126.~~32109399~~70227868 ~~650~~610.~~28947999~~75885169 0.~~65028948~~61075885 3126.~~32109399~~70227868 A-3 0.00000000 2810.~~50546021~~50006900 ~~630~~602.~~99979932~~46805269 0.~~63099980~~60246805 2810.~~50546021~~50006900 A-4 0.00000000 019.~~15110646~~46048203 ~~718~~695.~~49997505~~88065521 0.~~71849998~~69588066 019.~~15110646~~46048203 B-1 0.00000000 0.~~16619398~~16981144 998.~~52737569~~18880666 0.~~99852738~~99818881 0.~~16619398~~16981144 B-2 0.00000000 0.~~16619359~~16981054 998.~~52737685~~18880641 0.~~99852738~~99818881 0.~~16619359~~16981054 B-3 0.00000000 0.~~16619376~~16981055 998.~~52737567~~18880732 0.~~99852738~~99818881 0.~~16619376~~16981055 B-4 0.00000000 0.~~16618966~~16981034 998.~~52737931~~18881034 0.~~99852738~~99818881 0.~~16618966~~16981034 B-5 0.00000000 0.~~16619171~~16980570 998.~~52737047~~18880829 0.~~99852737~~99818881 0.~~16619171~~16980570 B-6 0.00000000 0.~~16619261~~16981028 998.~~52737352~~18880490 0.~~99852737~~99818880 0.~~16619261~~16981028 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 187,279,000.00 2.~~77776~~72243% ~~171~~168,~~037~~214,~~629~~299.9739 ~~395~~381,~~918~~626.5342 0.00 0.00 A-R 100.00 2.~~88707~~87515% 0.00 0.00 0.00 0.00 A-2 115,997,000.00 4.~~30599~~29136% 7973,~~064~~943,~~781~~578.7574 ~~283~~264,~~709~~431.9387 0.00 0.00 A-3 394,210,000.00 4.~~77723~~76576% ~~259~~241,~~983~~638,~~568~~163.3524 1959,~~035,000~~658.7970 0.00 0.00 A-4 54,914,000.00 5.~~36550~~36521% 39,~~464~~282,~~005~~243.4920 ~~176~~175,~~453~~631.3217 0.00 0.00 B-1 7,743,000.00 4.~~24946~~22726% 7,~~732~~730,~~884~~290.3178 27,~~383~~231.8164 0.00 0.00 B-2 5,806,000.00 4.~~24946~~22726% 5,~~798~~796,~~414~~470.8714 20,~~533~~419.4333 0.00 0.00 B-3 4,645,000.00 4.~~24946~~22726% 4,~~638~~637,~~931~~375.6378 16,~~427~~336.4517 0.00 0.00 B-4 1,160,000.00 4.~~24946~~22726% 1,158,~~484~~096.5400 4,~~102~~079.4465 0.00 0.00 B-5 772,000.00 4.~~24946~~22726% 770,~~991~~732.4485 2,~~730~~715.2507 0.00 0.00 B-6 1,948,763.00 4.~~24946~~22726% 1,~~946~~945,~~217~~564.0834 6,~~891~~853.9768 0.00 0.00 Totals 774,474,863.00 1,~~969~~858,~~151~~983.9270 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-1 0.0100 0.00 ~~395~~381,~~918~~626.5341 0.00 ~~168~~163,~~834~~982,~~669~~935.8769 A-R 0.00 0.00 0.00 0.00 0.00 A-2 0.0100 0.00 ~~283~~264,~~709~~431.9387 0.00 7570,~~431~~846,~~628~~194.8152 A-3 0.0201 0.00 1959,~~035,000~~658.7769 0.00 ~~248~~237,~~746~~498,~~430~~931.8905 A-4 0.00 0.00 ~~176~~175,~~453~~631.3217 0.00 3938,~~455~~213,~~707~~590.6330 B-1 0.00 0.00 27,~~383~~231.8164 0.00 7,~~731~~728,~~597~~975.4793 B-2 0.00 0.00 20,~~533~~419.4333 0.00 5,~~797~~795,~~449~~484.9521 B-3 0.00 0.00 16,~~427~~336.4517 0.00 4,~~638~~636,~~159~~587.6601 B-4 0.00 0.00 4,~~102~~079.4465 0.00 1,~~158~~157,~~291~~899.7602 B-5 0.00 0.00 2,~~730~~715.2507 0.00 770,~~863~~601.1376 B-6 0.00 0.00 6,~~891~~853.9768 0.00 1,945,~~893~~233.2041 Totals 0.0401 0.00 1,~~969~~858,~~151~~983.9068 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 187,279,000.00 2.~~77776~~72243% ~~913~~898.~~27714250~~20161038 2.~~11405726~~03774273 0.00000000 0.00000000 A-R 100.00 2.~~88707~~87515% 0.00000000 0.00000000 0.00000000 0.00000000 A-2 115,997,000.00 4.~~30599~~29136% ~~681~~637.~~61057398~~46113037 2.~~44583851~~27964404 0.00000000 0.00000000 A-3 394,210,000.00 4.~~77723~~76576% ~~659~~612.~~50525951~~96812166 2.~~62550618~~43438447 0.00000000 0.00000000 A-4 54,914,000.00 5.~~36550~~36521% ~~718~~715.~~65108151~~34113705 3.~~21326656~~19829497 0.00000000 0.00000000 B-1 7,743,000.00 4.~~24946~~22726% 998.~~69356968~~35861811 3.~~53658918~~51693659 0.00000000 0.00000000 B-2 5,806,000.00 4.~~24946~~22726% 998.~~69357044~~35861867 3.~~53658801~~51693593 0.00000000 0.00000000 B-3 4,645,000.00 4.~~24946~~22726% 998.~~69356943~~35861787 3.~~53658773~~51693649 0.00000000 0.00000000 B-4 1,160,000.00 4.~~24946~~22726% 998.~~69356897~~35862069 3.~~53658621~~51693966 0.00000000 0.00000000 B-5 772,000.00 4.~~24946~~22726% 998.~~69357513~~35861399 3.~~53659326~~51693005 0.00000000 0.00000000 B-6 1,948,763.00 4.~~24946~~22726% 998.~~69357126~~35862031 3.~~53658706~~51693869 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 A-1 0.~~00000005~~00000000 0.00000000 2.~~11405726~~03774267 0.00000000 ~~901~~875.~~51415733~~60770663 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.~~00000009~~00000000 0.00000000 2.~~44583851~~27964404 0.00000000 ~~650~~610.~~28947999~~75885169 A-3 0.~~00000005~~00000003 0.00000000 2.~~62550613~~43438444 0.00000000 ~~630~~602.~~99979932~~46805269 A-4 0.00000000 0.00000000 3.~~21326656~~19829497 0.00000000 ~~718~~695.~~49997505~~88065521 B-1 0.00000000 0.00000000 3.~~53658918~~51693659 0.00000000 998.~~52737569~~18880666 B-2 0.00000000 0.00000000 3.~~53658801~~51693593 0.00000000 998.~~52737685~~18880641 B-3 0.00000000 0.00000000 3.~~53658773~~51693649 0.00000000 998.~~52737567~~18880732 B-4 0.00000000 0.00000000 3.~~53658621~~51693966 0.00000000 998.~~52737931~~18881034 B-5 0.00000000 0.00000000 3.~~53659326~~51693005 0.00000000 998.~~52737047~~18880829 B-6 0.00000000 0.00000000 3.~~53658706~~51693869 0.00000000 998.~~52737352~~18880490 (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 1914,~~217~~552,~~845~~138.3628 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 148,~~268~~232.2437 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1914,~~232~~560,~~113~~370.6065 Withdrawals Reimbursement for Servicer Advances 112,~~404~~699.4762 Payment of Service Fee ~~166~~158,~~340~~305.1879 Payment of Interest and Principal 1914,~~054~~399,~~368~~365.9524 Total Withdrawals (Pool Distribution Amount) 1914,~~232~~560,~~113~~370.6065 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~156~~148,~~337~~766.2123 Master Servicing Fee- Wells Fargo 9,~~526~~085.5829 Trustee Fee - Deutsche Bank ~~476~~454.3927 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~166~~158,~~340~~305.1879

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 41 0 0 0 41 51,~~532~~649,~~747~~991.6341 0.00 0.00 0.00 51,~~532~~649,~~747~~991.6341 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 41 0 0 0 41 51,~~532~~649,~~747~~991.6341 0.00 0.00 0.00 51,~~532~~649,~~747~~991.6341 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~133144~~289017% 0.000000% 0.000000% 0.000000% 10.~~133144~~289017% 30.~~173693~~973566% 0.000000% 0.000000% 0.000000% 30.~~173693~~973566% 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 10.~~133144~~289017% 0.000000% 0.000000% 0.000000% 10.~~133144~~289017% 30.~~173693~~973566% 0.000000% 0.000000% 0.000000% 30.~~173693~~973566% 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 02 0 0 0 02 0602,561.0068 0.00 0.00 0.00 0602,561.0068 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 02 0 0 0 02 0602,561.0068 0.00 0.00 0.00 0602,561.0068 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~985222% 0.000000% 0.000000% 0.000000% 0.~~000000~~985222% 0.~~000000~~811512% 0.000000% 0.000000% 0.000000% 0.~~000000~~811512% 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~~985222% 0.000000% 0.000000% 0.000000% 0.~~000000~~985222% 0.~~000000~~811512% 0.000000% 0.000000% 0.000000% 0.~~000000~~811512% 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 01 0 0 0 01 0364,172.0026 0.00 0.00 0.00 0364,172.0026 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 0364,172.0026 0.00 0.00 0.00 0364,172.0026 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~145560% 0.000000% 0.000000% 0.000000% 0.~~000000~~145560% 0.~~000000~~146207% 0.000000% 0.000000% 0.000000% 0.~~000000~~146207% 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~~145560% 0.000000% 0.000000% 0.000000% 0.~~000000~~145560% 0.~~000000~~146207% 0.000000% 0.000000% 0.000000% 0.~~000000~~146207% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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%

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~483220~~440786% Weighted Average Net Coupon 4.~~155008~~113298% Weighted Average Pass-Through Rate 4.~~134008~~092298% Weighted Average Maturity(Stepdown Calculation ) ~~351~~349 Beginning Scheduled Collateral Loan Count 1,~~372~~318 Number Of Loans Paid In Full 3721 Ending Scheduled Collateral Loan Count 1,~~335~~297 Beginning Scheduled Collateral Balance ~~571~~545,~~595~~116,~~909~~814.8993 Ending Scheduled Collateral Balance ~~554~~532,~~510~~576,~~692~~433.8436 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~554~~532,~~578~~635,~~378~~790.2183 Monthly P &I Constant 2,~~224~~102,~~009~~296.5343 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 1814,~~972~~317,~~630~~981.9418 Ending Scheduled Balance for Premium Loans ~~554~~532,~~510~~576,~~692~~433.8436 Scheduled Principal 8885,~~517~~006.4697 Unscheduled Principal 1612,~~996~~455,~~699~~374.5960

Miscellaneous Reporting Senior Percentage Group 1 96.~~888793~~838412% Senior PrePayment Percentage Grp 1 100.000000% Subordinate Percentage Group 1 3.~~111207~~161588% Subordinate PrePayment Percentage Grp 1 0.000000% Senior Percentage Group 2 95.~~879810~~608595% Senior PrePayment Percentage Grp 2 100.000000% Subordinate Percentage Group 2 4.~~120190~~391405% Subordinate PrePayment Percentage Grp 2 0.000000% Senior Percentage Group 3 95.~~747912~~441861% Senior PrePayment Percentage Grp 3 100.000000% Subordinate Percentage Group 3 4.~~252088~~558139% Subordinate PrePayment Percentage Grp 3 0.000000% Senior Percentage Group 4 96.~~079196~~062529% Senior PrePayment Percentage Grp 4 100.000000% Subordinate Percentage Group 4 3.~~920804~~937471% Subordinate PrePayment Percentage Grp 4 0.000000%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~169631~~114232 4.~~581475~~567126 5.~~132930~~119265 Weighted Average Net Rate 2.~~798764~~743430 4.~~326987~~312356 4.~~798229~~786764 Weighted Average Maturity ~~352~~350 ~~356~~354 ~~349~~347 Beginning Loan Count ~~357~~351 ~~217~~208 ~~733~~695 Loans Paid In Full 45 5 288 Ending Loan Count ~~353~~346 ~~212~~203 ~~705~~687 Beginning Scheduled Balance ~~176~~173,~~529~~706,~~838~~173.1315 8277,~~462~~339,~~388~~886.7112 ~~271~~253,~~529~~178,~~228~~387.7620 Ending scheduled Balance ~~174~~169,~~326~~474,~~712~~639.2673 7874,~~828~~241,~~588~~832.1751 ~~260~~249,~~289~~036,~~397~~409.3329 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~471~~456,~~607~~169.0018 ~~330~~309,~~550~~593.5199 1,~~224~~140,~~806~~310.8124 Scheduled Principal 5,~~328~~368.2610 15,~~717~~243.7214 6360,~~356~~237.2962 Unscheduled Principal 24,~~197~~226,~~797~~165.6132 3,~~618,~~082,810.8247 114,~~176~~081,~~475~~740.1429 Scheduled Interest ~~466~~450,~~278~~801.7408 ~~314~~294,~~832~~350.7985 1,~~161~~080,~~450~~072.5262 Servicing Fees 5453,~~557~~675.5543 1716,~~488~~419.0689 7570,~~734~~151.4266 Master Servicing Fees 2,~~942~~895.1610 1,~~374~~289.3600 4,~~525~~219.4965 Trustee Fee ~~147~~144.1377 6864.7446 ~~226~~210.2996 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 ~~408~~394,~~631~~085.9078 ~~295~~276,~~901~~577.6350 1,~~080~~005,~~964~~490.3235 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.~~777764~~722430 4.~~305987~~291356 4.~~777229~~765764

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~636497~~636208 4.~~483220~~440786 Weighted Average Net Rate 5.~~386497~~386208 4.~~155008~~113298 Weighted Average Maturity ~~350~~348 ~~351~~349 Beginning Loan Count 6564 1,~~372~~318 Loans Paid In Full 03 3721 Ending Loan Count 6561 1,~~335~~297 Beginning Scheduled Balance 4140,~~074~~892,~~454~~368.2946 ~~571~~545,~~595~~116,~~909~~814.8993 Ending scheduled Balance 4139,~~065~~823,~~995~~551.0883 ~~554~~532,~~510~~576,~~692~~433.8436 Record Date 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~197~~196,~~045~~223.2102 2,~~224~~102,~~009~~296.5343 Scheduled Principal 4,~~115~~158.1911 8885,~~517~~006.4697 Unscheduled Principal 41,~~344~~064,658.0252 1612,~~996~~455,~~699~~374.5960 Scheduled Interest 192,~~930~~064.0291 2,~~135~~017,~~492~~289.0746 Servicing Fees 8,~~557~~519.1825 ~~156~~148,~~337~~766.2123 Master Servicing Fees ~~684~~681.5754 9,~~526~~085.5829 Trustee Fee 34.2308 ~~476~~454.3927 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 ~~183~~182,~~654~~830.04 1,~~969~~858,~~151~~983.8967 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.000000 0.000000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 5.~~365497~~365208 4.~~134008~~092298

Filing Compare · GREENWICH CAPITAL ACCEPTANCE INC THORN MORT SEC TR 2003-1