8-K 1 prf03001.txt DECEMBER 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): December 26, 2003 PROVIDENT FUNDING MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-104153-07 54-2121751 Pooling and Servicing Agreement) (Commission 54-2121752 (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 PROVIDENT FUNDING MORTGAGE LOAN TRUST, 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. PROVIDENT FUNDING MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-1 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: 1/8/04 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

Provident Residential Funding Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 PRF 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 743873AA9 SEQ 3.79900% ~~331~~303,~~762~~406,~~922~~097.0944 1960,~~114,497~~533.5313 177,~~045~~683,~~682~~690.6881 AIO 743873AH4 IO 0.~~54874~~53423% 0.00 ~~161~~135,~~139~~073.2212 0.00 AR 743873AJ0 SEQ 4.~~34864~~34719% 0.00 0.00 0.00 B1 743873AB7 SUB 4.~~34774~~33323% 3,~~744~~734,~~222~~335.6625 1413,~~351~~484.5677 4,~~926~~988.8756 B2 743873AC5 SUB 4.~~34774~~33323% 2,~~995~~987,~~178~~269.6525 1110,~~480~~787.4810 3,~~941~~990.2358 B3 743873AD3 SUB 4.~~34774~~33323% 2,~~058~~053,~~624~~188.2806 7,~~890~~414.6811 2,~~708~~742.8678 B4 743873AE1 SUB 4.~~34774~~33323% ~~748~~746,~~046~~071.6124 2,~~867~~694.2508 ~~984~~996.3265 B5 743873AF8 SUB 4.~~34774~~33323% ~~561~~560,~~533~~050.6681 2,~~152~~022.3536 ~~738~~748.9015 B6 743873AG6 SUB 4.~~34774~~33323% 1,~~127~~124,~~279~~302.3250 4,~~320~~059.8588 1,~~483~~501.3491 Totals ~~342~~314,~~997~~611,~~807~~314.2755 1,~~318~~136,~~699~~068.9255 177,~~060~~698,~~466~~659.2044

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~314~~295,~~717~~722,~~239~~406.4163 188,~~160~~644,~~180~~223.2194 0.00 AIO 0.00 0.00 ~~161~~135,~~139~~073.2212 0.00 AR 0.00 0.00 0.00 0.00 B1 0.00 3,~~739~~729,~~295~~346.7870 1918,~~278~~473.4333 0.00 B2 0.00 2,~~991~~983,~~237~~278.4167 1514,~~421~~777.7168 0.00 B3 0.00 2,~~055~~050,~~915~~445.4228 10,~~599~~156.5489 0.00 B4 0.00 ~~747~~745,~~062~~074.2959 3,~~851~~690.5773 0.00 B5 0.00 ~~560~~559,~~794~~302.7666 2,~~891~~770.2551 0.00 B6 0.00 1,~~125~~122,~~795~~800.9859 5,~~804~~561.1979 0.00 Totals 0.00 ~~325~~306,~~937~~912,~~341~~655.0512 188,~~379~~834,~~166~~727.1299 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 364,182,000.00 ~~331~~303,~~762~~406,~~922~~097.0944 ~~436~~405,~~553~~308.4057 167,~~609~~278,~~129~~382.2824 0.00 0.00 AIO 0.00 0.00 0.00 0.00 0.00 0.00 AR 100.00 0.00 0.00 0.00 0.00 0.00 B1 3,754,000.00 3,~~744~~734,~~222~~335.6625 4,~~926~~988.8756 0.00 0.00 0.00 B2 3,003,000.00 2,~~995~~987,~~178~~269.6525 3,~~941~~990.2358 0.00 0.00 0.00 B3 2,064,000.00 2,~~058~~053,~~624~~188.2806 2,~~708~~742.8678 0.00 0.00 0.00 B4 750,000.00 ~~748~~746,~~046~~071.6124 ~~984~~996.3265 0.00 0.00 0.00 B5 563,000.00 ~~561~~560,~~533~~050.6681 ~~738~~748.9015 0.00 0.00 0.00 B6 1,130,223.00 1,~~127~~124,~~279~~302.3250 1,~~483~~501.3491 0.00 0.00 0.00 Totals 375,446,323.00 ~~342~~314,~~997~~611,~~807~~314.2755 ~~451~~420,~~336~~277.9220 167,~~609~~278,~~129~~382.2824 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 177,~~045~~683,~~682~~690.6881 ~~314~~295,~~717~~722,~~239~~406.4163 0.~~86417571~~81201818 177,~~045~~683,~~682~~690.6881 AIO 0.00 0.00 0.00000000 0.00 AR 0.00 0.00 0.00000000 0.00 B1 4,~~926~~988.8756 3,~~739~~729,~~295~~346.7870 0.~~99608305~~99343279 4,~~926~~988.8756 B2 3,~~941~~990.2358 2,~~991~~983,~~237~~278.4167 0.~~99608305~~99343279 3,~~941~~990.2358 B3 2,~~708~~742.8678 2,~~055~~050,~~915~~445.4228 0.~~99608305~~99343279 2,~~708~~742.8678 B4 ~~984~~996.3265 ~~747~~745,~~062~~074.2959 0.~~99608305~~99343279 ~~984~~996.3265 B5 ~~738~~748.9015 ~~560~~559,~~794~~302.7666 0.~~99608306~~99343279 ~~738~~748.9015 B6 1,~~483~~501.3491 1,~~125~~122,~~795~~800.9859 0.~~99608306~~99343279 1,~~483~~501.3491 Totals 177,~~060~~698,~~466~~659.2044 ~~325~~306,~~937~~912,~~341~~655.0512 0.~~86813300~~81746081 177,~~060~~698,~~466~~659.2044

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 364,182,000.00 ~~910~~833.~~98110859~~11667639 1.~~19872317~~11292862 4519.~~60667271~~98556282 0.00000000 AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 AR 100.00 0.00000000 0.00000000 0.00000000 0.00000000 B1 3,754,000.00 ~~997~~994.~~39548748~~76165424 1.~~31243207~~32886521 0.00000000 0.00000000 B2 3,003,000.00 ~~997~~994.~~39548785~~76165501 1.~~31243090~~32886447 0.00000000 0.00000000 B3 2,064,000.00 ~~997~~994.~~39548450~~76165698 1.~~31243217~~32886628 0.00000000 0.00000000 B4 750,000.00 ~~997~~994.~~39548000~~76165333 1.~~31242667~~32886667 0.00000000 0.00000000 B5 563,000.00 ~~997~~994.~~39548845~~76165187 1.~~31243339~~32886323 0.00000000 0.00000000 B6 1,130,223.00 ~~997~~994.~~39548744~~76165323 1.~~31243126~~32886165 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 A 0.00000000 4621.~~80539587~~09849144 ~~864~~812.~~17571272~~01818495 0.~~86417571~~81201818 4621.~~80539587~~09849144 AIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B1 0.00000000 1.~~31243207~~32886521 ~~996~~993.~~08305274~~43279169 0.~~99608305~~99343279 1.~~31243207~~32886521 B2 0.00000000 1.~~31243090~~32886447 ~~996~~993.~~08305361~~43279054 0.~~99608305~~99343279 1.~~31243090~~32886447 B3 0.00000000 1.~~31243217~~32886628 ~~996~~993.~~08305233~~43279070 0.~~99608305~~99343279 1.~~31243217~~32886628 B4 0.00000000 1.~~31242667~~32886667 ~~996~~993.~~08305333~~43278667 0.~~99608305~~99343279 1.~~31242667~~32886667 B5 0.00000000 1.~~31243339~~32886323 ~~996~~993.~~08305506~~43278863 0.~~99608306~~99343279 1.~~31243339~~32886323 B6 0.00000000 1.~~31243126~~32886165 ~~996~~993.~~08305618~~43279158 0.~~99608306~~99343279 1.~~31243126~~32886165 (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 364,182,000.00 3.79900% ~~331~~303,~~762~~406,~~922~~097.0944 1960,~~050,306~~533.1214 0.00 0.00 AIO 0.00 0.~~54874~~53423% ~~331~~303,~~762~~406,~~922~~097.0944 ~~151~~135,~~710~~073.3512 0.00 0.00 AR 100.00 4.~~34864~~34719% 0.00 0.00 0.00 0.00 B1 3,754,000.00 4.~~34774~~33323% 3,~~744~~734,~~222~~335.6625 13,~~565~~484.7677 0.00 0.00 B2 3,003,000.00 4.~~34774~~33323% 2,~~995~~987,~~178~~269.6525 10,~~851~~787.8910 0.00 0.00 B3 2,064,000.00 4.~~34774~~33323% 2,~~058~~053,~~624~~188.2806 7,~~458~~414.6411 0.00 0.00 B4 750,000.00 4.~~34774~~33323% ~~748~~746,~~046~~071.6124 2,~~710~~694.2608 0.00 0.00 B5 563,000.00 4.~~34774~~33323% ~~561~~560,~~533~~050.6681 2,~~034~~022.5036 0.00 0.00 B6 1,130,223.00 4.~~34774~~33323% 1,~~127~~124,~~279~~302.3250 4,~~084~~059.2788 0.00 0.00 Totals 375,446,323.00 1,~~242~~136,~~721~~068.7956 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 ~~(64,191~~0.~~41)~~01 0.00 1960,~~114,497~~533.5313 0.00 ~~314~~295,~~717~~722,~~239~~406.4163 AIO ~~(9,428~~0.~~87)~~00 0.00 ~~161~~135,~~139~~073.2212 0.00 ~~314~~295,~~717~~722,~~239~~406.4163 AR 0.00 0.00 0.00 0.00 0.00 B1 ~~(785~~0.~~80)~~00 0.00 1413,~~351~~484.5677 0.00 3,~~739~~729,~~295~~346.7870 B2 ~~(628~~0.~~59)~~00 0.00 1110,~~480~~787.4810 0.00 2,~~991~~983,~~237~~278.4167 B3 ~~(432~~0.~~04)~~00 0.00 7,~~890~~414.6811 0.00 2,~~055~~050,~~915~~445.4228 B4 ~~(156~~0.~~99)~~00 0.00 2,~~867~~694.2508 0.00 ~~747~~745,~~062~~074.2959 B5 ~~(117~~0.~~85)~~00 0.00 2,~~152~~022.3536 0.00 ~~560~~559,~~794~~302.7666 B6 ~~(236~~0.~~58)~~00 0.00 4,~~320~~059.8588 0.00 1,~~125~~122,~~795~~800.9859 Totals ~~(75,978~~0.~~13)~~01 0.00 1,~~318~~136,~~699~~068.9255 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 364,182,000.00 3.79900% ~~910~~833.~~98110859~~11667639 2.~~88401437~~63750855 0.00000000 0.00000000 AIO 0.00 0.~~54874~~53423% ~~910~~833.~~98110859~~11667639 0.~~41657839~~37089455 0.00000000 0.00000000 AR 100.00 4.~~34864~~34719% 0.00000000 0.00000000 0.00000000 0.00000000 B1 3,754,000.00 4.~~34774~~33323% ~~997~~994.~~39548748~~76165424 3.~~61368141~~59210709 0.00000000 0.00000000 B2 3,003,000.00 4.~~34774~~33323% ~~997~~994.~~39548785~~76165501 3.~~61368298~~59210789 0.00000000 0.00000000 B3 2,064,000.00 4.~~34774~~33323% ~~997~~994.~~39548450~~76165698 3.~~61368217~~59210756 0.00000000 0.00000000 B4 750,000.00 4.~~34774~~33323% ~~997~~994.~~39548000~~76165333 3.~~61368000~~59210667 0.00000000 0.00000000 B5 563,000.00 4.~~34774~~33323% ~~997~~994.~~39548845~~76165187 3.~~61367673~~59211368 0.00000000 0.00000000 B6 1,130,223.00 4.~~34774~~33323% ~~997~~994.~~39548744~~76165323 3.~~61368509~~59210527 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 A (0.~~17626190)~~00000003 0.00000000 32.~~06027626~~63750853 0.00000000 ~~864~~812.~~17571272~~01818495 AIO (0.~~02589054)~~00000000 0.00000000 0.~~44246893~~37089455 0.00000000 ~~864~~812.~~17571272~~01818495 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B1 (0.~~20932339)~~00000000 0.00000000 3.~~82300479~~59210709 0.00000000 ~~996~~993.~~08305274~~43279169 B2 (0.~~20932068)~~00000000 0.00000000 3.~~82300366~~59210789 0.00000000 ~~996~~993.~~08305361~~43279054 B3 (0.~~20932171)~~00000000 0.00000000 3.~~82300388~~59210756 0.00000000 ~~996~~993.~~08305233~~43279070 B4 (0.~~20932000)~~00000000 0.00000000 3.~~82300000~~59210667 0.00000000 ~~996~~993.~~08305333~~43278667 B5 (0.~~20932504)~~00000000 0.00000000 3.~~82300178~~59211368 0.00000000 ~~996~~993.~~08305506~~43278863 B6 (0.~~20932152)~~00000000 0.00000000 3.~~82300661~~59210527 0.00000000 ~~996~~993.~~08305618~~43279158 (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 188,~~484~~928,~~117~~927.5792 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 35,~~235~~033.7573 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 188,~~487~~933,~~353~~961.3265 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~108~~99,~~187~~233.2066 Payment of Interest and Principal 188,~~379~~834,~~166~~727.1299 Total Withdrawals (Pool Distribution Amount) 188,~~487~~933,~~353~~961.3265 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~(75,978~~0.~~13)~~00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall ~~(75,978~~0.~~13)~~00

SERVICING FEES Gross Servicing Fee ~~107~~98,~~186~~316.8003 Trustee Fee ~~1,000~~917.4063 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~108~~99,~~187~~233.2066

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 1 0 0 0 1 ~~623~~346,~~228~~663.3217 0.00 0.00 0.00 ~~623~~346,~~228~~663.3217 60 Days 01 0 0 0 01 0622,459.0074 0.00 0.00 0.00 0622,459.0074 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 12 0 0 0 12 ~~623~~969,~~228~~122.3291 0.00 0.00 0.00 ~~623~~969,~~228~~122.3291 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.~~136612~~144300% 0.000000% 0.000000% 0.000000% 0.~~136612~~144300% 0.~~190998~~112816% 0.000000% 0.000000% 0.000000% 0.~~190998~~112816% 60 Days 0.~~000000~~144300% 0.000000% 0.000000% 0.000000% 0.~~000000~~144300% 0.~~000000~~202570% 0.000000% 0.000000% 0.000000% 0.~~000000~~202570% 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.~~136612~~288600% 0.000000% 0.000000% 0.000000% 0.~~136612~~288600% 0.~~190998~~315387% 0.000000% 0.000000% 0.000000% 0.~~190998~~315387%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 35,~~235~~033.7573

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 100,000.00 0.02663497% 100,000.00 0.~~03068074~~03258256% Fraud 11,263,390.00 3.00000008% 11,263,390.00 3.~~45569180~~66990079% Special Hazard 9,323,880.00 2.48341226% 8,~~817~~177,~~080~~316.8629 2.~~70514597~~66437898% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description 5/1 CMT ARM Weighted Average Gross Coupon 4.~~726243~~711727% Weighted Average Pass-Through Rate 4.~~347743~~333227% Weighted Average Maturity(Stepdown Calculation ) ~~353~~351 Beginning Scheduled Collateral Loan Count ~~769~~707 Number Of Loans Paid In Full 3714 Ending Scheduled Collateral Loan Count ~~732~~693 Beginning Scheduled Collateral Balance ~~342~~314,~~997~~611,~~808~~315.2250 Ending Scheduled Collateral Balance ~~325~~306,~~937~~912,~~342~~656.0107 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~326~~307,~~300~~280,~~488~~875.1178 Monthly P &I Constant 1,~~802~~655,~~246~~579.0139 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 188,~~095~~644,~~988~~223.8095 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~325~~306,~~937~~912,~~342~~656.0107 Scheduled Principal ~~451~~420,~~336~~277.9319 Unscheduled Principal 167,~~609~~278,~~129~~382.2824

Miscellaneous Reporting Rolling 6 Month Delinquency Percentage 0103743.~~000000~~290000% Senior Percentage 96.~~724502~~438393% Senior Prepayment Percentage 100.000000% Subordinate Percentage 3.~~275498~~561607% Subordinate Prepayment Percentage 0.000000%

Filing Compare · PROVIDENT FUNDING MORTGAGE PASS-THROUGH CERT SERIES 2003-1