8-K 1 sal03hy1.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 SALOMON BROTHERS MORTGAGE SECURITIES VII, INC. Mortgage Pass-Through Certificates, Series 2003-HY1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-83816-12 54-2126406 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, 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 SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., Mortgage Pass-Through Certificates, Series 2003-HY1 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-HY1 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. SALOMON BROTHERS MORTGAGE SECURITIES VII, INC. Mortgage Pass-Through Certificates, Series 2003-HY1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trust Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 1/6/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-HY1 Trust, relating to the December 26, 2003 distribution. EX-99.1

Salomon Brothers Mortgage Securities VII, Inc. Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 SBMSVII Series: 2003-HY1 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 79549AYG8 SEN 4.~~18391~~18478% ~~170~~168,~~019~~498,~~000~~237.0028 ~~592~~587,~~787~~606.4336 ~~352~~742,~~042~~419.9113 B-1 79549AYH6 SUB 4.~~18391~~18478% 2,~~629~~623,~~000~~569.0096 9,~~166~~149.2621 2,~~704~~726.8774 B-2 79549AYJ2 SUB 4.~~18391~~18478% ~~964~~962,~~000~~008.0092 3,~~361~~354.0883 ~~991~~999.8284 B-3 79549AYK9 SUB 4.~~18391~~18478% ~~701~~699,~~000~~552.0013 2,~~444~~439.1056 ~~721~~727.2306 B-4 79549AYL7 SUB 4.~~18391~~18478% ~~351~~350,~~000~~275.0003 1,~~223~~221.7952 ~~361~~364.1305 B-5 79549AYM5 SUB 4.~~18391~~18478% ~~263~~262,~~000~~456.0079 ~~916~~915.9727 ~~270~~272.5978 B-6 79549AYN3 SUB 4.~~18391~~18478% 350,~~762~~038.7628 1,~~222~~220.9769 ~~360~~363.8980 R SALOM03HY SEN 4.~~18391~~18554% ~~100~~0.00 0.3500 ~~100~~0.00 Totals ~~175~~173,~~277~~746,~~862~~138.7639 ~~611~~605,~~122~~907.9544 ~~357~~747,~~553~~873.4440

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~169~~167,~~666~~755,~~957~~818.0915 ~~944~~1,~~830~~330,025.3449 0.00 B-1 0.00 2,~~626~~620,~~295~~843.1322 11,~~871~~875.1395 0.00 B-2 0.00 ~~963~~961,~~008~~009.1808 4,~~352~~354.9067 0.00 B-3 0.00 ~~700~~698,~~278~~825.7706 3,~~165~~166.3362 0.00 B-4 0.00 ~~350~~349,~~638~~910.8798 1,~~584~~585.9257 0.00 B-5 0.00 262,~~729~~184.4101 1,~~187~~188.5605 0.00 B-6 0.00 ~~350~~349,~~401~~674.8748 1,~~583~~584.8649 0.00 R 0.00 0.00 ~~100~~0.3500 0.00 Totals 0.00 ~~174~~172,~~920~~998,~~309~~264.3298 ~~968~~1,~~676~~353,780.3984 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 170,019,000.00 ~~170~~168,~~019~~498,~~000~~237.0028 ~~174~~175,~~876~~124.20 ~~177~~567,~~166~~294.7093 0.00 0.00 B-1 2,629,000.00 2,~~629~~623,~~000~~569.0096 2,~~704~~726.8774 0.00 0.00 0.00 B-2 964,000.00 ~~964~~962,~~000~~008.0092 ~~991~~999.8284 0.00 0.00 0.00 B-3 701,000.00 ~~701~~699,~~000~~552.0013 ~~721~~727.2306 0.00 0.00 0.00 B-4 351,000.00 ~~351~~350,~~000~~275.0003 ~~361~~364.1305 0.00 0.00 0.00 B-5 263,000.00 ~~263~~262,~~000~~456.0079 ~~270~~272.5978 0.00 0.00 0.00 B-6 350,762.76 350,~~762~~038.7628 ~~360~~363.8980 0.00 0.00 0.00 R 100.00 ~~100~~0.00 490.6700 500.3300 0.00 0.00 Totals 175,277,862.76 ~~175~~173,~~277~~746,~~862~~138.7639 180,~~336~~578.4047 ~~177~~567,~~217~~294.0393 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 ~~352~~742,~~042~~419.9113 ~~169~~167,~~666~~755,~~957~~818.0915 0.~~99792939~~98668865 ~~352~~742,~~042~~419.9113 B-1 2,~~704~~726.8774 2,~~626~~620,~~295~~843.1322 0.~~99897114~~99689738 2,~~704~~726.8774 B-2 ~~991~~999.8284 ~~963~~961,~~008~~009.1808 0.~~99897114~~99689739 ~~991~~999.8284 B-3 ~~721~~727.2306 ~~700~~698,~~278~~825.7706 0.~~99897114~~99689738 ~~721~~727.2306 B-4 ~~361~~364.1305 ~~350~~349,~~638~~910.8798 0.~~99897114~~99689738 ~~361~~364.1305 B-5 ~~270~~272.5978 262,~~729~~184.4101 0.~~99897114~~99689738 ~~270~~272.5978 B-6 ~~360~~363.8980 ~~350~~349,~~401~~674.8748 0.~~99897113~~99689739 ~~360~~363.8980 R ~~100~~0.00 0.00 0.00000000 ~~100~~0.00 Totals ~~357~~747,~~553~~873.4440 ~~174~~172,~~920~~998,~~309~~264.3298 0.~~99796008~~98699438 ~~357~~747,~~553~~873.4440

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 170,019,000.00 ~~1000~~991.~~00000000~~05533664 1.~~02856857~~03002723 13.~~04204060~~33665608 0.00000000 B-1 2,629,000.00 ~~1000~~997.~~00000000~~93456067 1.~~02885888~~03717763 0.00000000 0.00000000 B-2 964,000.00 ~~1000~~997.~~00000000~~93456432 1.~~02885892~~03717842 0.00000000 0.00000000 B-3 701,000.00 ~~1000~~997.~~00000000~~93456491 1.~~02885877~~03717546 0.00000000 0.00000000 B-4 351,000.00 ~~1000~~997.~~00000000~~93455840 1.~~02886040~~03717949 0.00000000 0.00000000 B-5 263,000.00 ~~1000~~997.~~00000000~~93456274 1.~~02885932~~03718631 0.00000000 0.00000000 B-6 350,762.76 ~~1000~~997.~~00000000~~93455839 1.~~02887205~~03716826 0.00000000 0.00000000 R 100.00 ~~1000~~0.00000000 ~~496~~0.~~70000000~~00000000 ~~503~~0.~~30000000~~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 0.00000000 24.~~07060923~~36668331 ~~997~~986.~~92939077~~68865333 0.~~99792939~~98668865 24.~~07060923~~36668331 B-1 0.00000000 1.~~02885888~~03717763 ~~998~~996.~~97114112~~89738304 0.~~99897114~~99689738 1.~~02885888~~03717763 B-2 0.00000000 1.~~02885892~~03717842 ~~998~~996.~~97114108~~89738589 0.~~99897114~~99689739 1.~~02885892~~03717842 B-3 0.00000000 1.~~02885877~~03717546 ~~998~~996.~~97114123~~89737518 0.~~99897114~~99689738 1.~~02885877~~03717546 B-4 0.00000000 1.~~02886040~~03717949 ~~998~~996.~~97113960~~89737892 0.~~99897114~~99689738 1.~~02886040~~03717949 B-5 0.00000000 1.~~02885932~~03718631 ~~998~~996.~~97114068~~89737643 0.~~99897114~~99689738 1.~~02885932~~03718631 B-6 0.00000000 1.~~02887205~~03716826 ~~998~~996.~~97112795~~89739013 0.~~99897113~~99689739 1.~~02887205~~03716826 R 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~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 A 170,019,000.00 4.~~18391~~18478% ~~170~~168,~~019~~498,~~000~~237.0028 ~~592~~587,~~787~~606.4436 0.00 0.00 B-1 2,629,000.00 4.~~18391~~18478% 2,~~629~~623,~~000~~569.0096 9,~~166~~149.2621 0.00 0.00 B-2 964,000.00 4.~~18391~~18478% ~~964~~962,~~000~~008.0092 3,~~361~~354.0883 0.00 0.00 B-3 701,000.00 4.~~18391~~18478% ~~701~~699,~~000~~552.0013 2,~~444~~439.1056 0.00 0.00 B-4 351,000.00 4.~~18391~~18478% ~~351~~350,~~000~~275.0003 1,~~223~~221.7952 0.00 0.00 B-5 263,000.00 4.~~18391~~18478% ~~263~~262,~~000~~456.0079 ~~916~~915.9727 0.00 0.00 B-6 350,762.76 4.~~18391~~18478% 350,~~762~~038.7628 1,~~222~~220.9769 0.00 0.00 R 100.00 4.~~18391~~18554% ~~100~~0.00 0.3500 0.00 0.00 Totals 175,277,862.76 ~~611~~605,~~122~~907.9644 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 0.0100 0.00 ~~592~~587,~~787~~606.4336 0.00 ~~169~~167,~~666~~755,~~957~~818.0915 B-1 0.00 0.00 9,~~166~~149.2621 0.00 2,~~626~~620,~~295~~843.1322 B-2 0.00 0.00 3,~~361~~354.0883 0.00 ~~963~~961,~~008~~009.1808 B-3 0.00 0.00 2,~~444~~439.1056 0.00 ~~700~~698,~~278~~825.7706 B-4 0.00 0.00 1,~~223~~221.7952 0.00 ~~350~~349,~~638~~910.8798 B-5 0.00 0.00 ~~916~~915.9727 0.00 262,~~729~~184.4101 B-6 0.00 0.00 1,~~222~~220.9769 0.00 ~~350~~349,~~401~~674.8748 R 0.00 0.00 0.3500 0.00 0.00 Totals 0.0100 0.00 ~~611~~605,~~122~~907.9544 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 170,019,000.00 4.~~18391~~18478% ~~1000~~991.~~00000000~~05533664 3.~~48659526~~45612173 0.00000000 0.00000000 B-1 2,629,000.00 4.~~18391~~18478% ~~1000~~997.~~00000000~~93456067 3.~~48659566~~48011031 0.00000000 0.00000000 B-2 964,000.00 4.~~18391~~18478% ~~1000~~997.~~00000000~~93456432 3.~~48659751~~48011411 0.00000000 0.00000000 B-3 701,000.00 4.~~18391~~18478% ~~1000~~997.~~00000000~~93456491 3.~~48659058~~48011412 0.00000000 0.00000000 B-4 351,000.00 4.~~18391~~18478% ~~1000~~997.~~00000000~~93455840 3.~~48658120~~48011396 0.00000000 0.00000000 B-5 263,000.00 4.~~18391~~18478% ~~1000~~997.~~00000000~~93456274 3.~~48657795~~48011407 0.00000000 0.00000000 B-6 350,762.76 4.~~18391~~18478% ~~1000~~997.~~00000000~~93455839 3.~~48660160~~48010148 0.00000000 0.00000000 R 100.00 4.~~18391~~18554% ~~1000~~0.00000000 30.~~50000000~~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 0.~~00000006~~00000000 0.00000000 3.~~48659520~~45612173 0.00000000 ~~997~~986.~~92939077~~68865333 B-1 0.00000000 0.00000000 3.~~48659566~~48011031 0.00000000 ~~998~~996.~~97114112~~89738304 B-2 0.00000000 0.00000000 3.~~48659751~~48011411 0.00000000 ~~998~~996.~~97114108~~89738589 B-3 0.00000000 0.00000000 3.~~48659058~~48011412 0.00000000 ~~998~~996.~~97114123~~89737518 B-4 0.00000000 0.00000000 3.~~48658120~~48011396 0.00000000 ~~998~~996.~~97113960~~89737892 B-5 0.00000000 0.00000000 3.~~48657795~~48011407 0.00000000 ~~998~~996.~~97114068~~89737643 B-6 0.00000000 0.00000000 3.~~48660160~~48010148 0.00000000 ~~998~~996.~~97112795~~89739013 R 0.00000000 0.00000000 30.~~50000000~~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 1,~~006~~391,~~653~~425.2784 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1,~~006~~391,~~653~~425.2784 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 37,~~976~~645.8800 Payment of Interest and Principal ~~968~~1,~~676~~353,780.3984 Total Withdrawals (Pool Distribution Amount) 1,~~006~~391,~~653~~425.2784 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 36,~~516~~197.2311 Wells Fargo Bank, N.A. 1,~~460~~447.6589 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 37,~~976~~645.8800

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 03 0 0 0 03 01,135,708.0056 0.00 0.00 0.00 01,135,708.0056 60 Days 01 0 0 0 01 0750,000.00 0.00 0.00 0.00 0750,000.00 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 04 0 0 0 04 01,885,708.0056 0.00 0.00 0.00 01,885,708.0056 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~775194% 0.000000% 0.000000% 0.000000% 0.~~000000~~775194% 0.~~000000~~655951% 0.000000% 0.000000% 0.000000% 0.~~000000~~655951% 60 Days 0.~~000000~~258398% 0.000000% 0.000000% 0.000000% 0.~~000000~~258398% 0.~~000000~~433177% 0.000000% 0.000000% 0.000000% 0.~~000000~~433177% 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 01.~~000000~~033592% 0.000000% 0.000000% 0.000000% 01.~~000000~~033592% 01.~~000000~~089128% 0.000000% 0.000000% 0.000000% 01.~~000000~~089128%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 08,589.0096

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 150,000.00 0.08557841% 150,000.00 0.~~08575334~~08670607% Fraud 5,258,335.89 3.00000000% 5,258,335.89 3.~~00613228~~03953100% Special Hazard 4,803,422.00 2.74046130% 4,803,422.00 2.~~74606306~~77657235% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~443914~~444778% Weighted Average Net Coupon 4.~~193914~~194778% Weighted Average Pass-Through Rate 4.~~183914~~184778% Weighted Average Maturity(Stepdown Calculation ) ~~357~~355 Beginning Scheduled Collateral Loan Count ~~390~~388 Number Of Loans Paid In Full 01 Ending Scheduled Collateral Loan Count ~~390~~387 Beginning Scheduled Collateral Balance ~~175~~173,~~277~~746,~~862~~138.7638 Ending Scheduled Collateral Balance ~~174~~172,~~920~~998,~~309~~264.3298 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~175~~173,~~060~~139,~~554~~293.2470 Monthly P &I Constant ~~829~~824,~~436~~130.2591 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 ~~174~~172,~~920~~998,~~309~~264.3298 Scheduled Principal 180,~~336~~578.4147 Unscheduled Principal ~~177~~567,~~217~~294.0393

Filing Compare · SALOMON BROTS MORT SEC VII INC CITIGROUP MORT LN TR 03 HYB1