8-K 1 fld03001.txt NOVEMBER 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): November 25, 2003 FIELDSTONE MORTGAGE INVESTMENT CORP Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106925-09 54-2132841 Pooling and Servicing Agreement) (Commission 54-2132842 (State or other File Number) 54-2132843 jurisdiction 54-2132844 of Incorporation) IRS EIN 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 November 25, 2003 a distribution was made to holders of FIELDSTONE MORTGAGE INVESTMENT CORP, 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 November 25, 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. FIELDSTONE MORTGAGE INVESTMENT CORP Mortgage Pass-Through Certificates, Series 2003-1 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: 11/26/03 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 November 25, 2003 distribution. EX-99.1

Fieldstone Mortgage Investors Corp Mortgage Pass-Through Certificates Record Date: 910/3031/03 Distribution Date: 1011/2725/03 FMIC 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 1-A 31695TAA3 SEN 1.47000% ~~312~~310,~~896~~982,~~000~~203.0052 ~~255~~368,~~531~~254.7376 12,~~913~~060,~~796~~141.4853 2-A1 31695TAB1 SEN 1.34000% 7170,~~233~~406,~~000~~025.0086 5375,~~029~~999.0139 ~~826~~183,~~974~~225.1417 2-A2 31695TAC9 SEN 1.62000% 18,513,000.00 1624,~~661~~159.7047 0.00 A-IO 31695TAD7 SEN 6.00000% 0.00 ~~360~~600,000.00 0.00 M1 31695TAE5 MEZ 1.80000% 32,511,000.00 3247,~~511~~140.0095 0.00 M2 31695TAF2 MEZ 2.87000% 26,260,000.00 4160,~~870~~711.1166 0.00 M3 31695TAG0 MEZ 3.17000% 8,753,000.00 1522,~~415~~351.0176 0.00 M4 31695TAH8 MEZ 4.12000% 7,503,000.00 1625,~~453~~624.0648 0.00 M5 31695TAJ4 MEZ 4.37000% 5,001,000.00 1019,~~299~~452.9873 0.00 B 31695TAK1 SEN 4.37000% 6,253,000.00 1224,~~878~~322.5872 0.00 X FLD03001X SEN 0.00000% 1113,~~254~~118,~~479~~683.3602 0785,317.0092 0.00 R FLD030014 SEN 0.00000% 0.00 0.00 0.00 Totals ~~500~~499,~~177~~300,~~479~~912.3640 ~~814~~2,~~650~~053,335.1884 2,~~740~~243,~~770~~366.6270

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A 0.00 ~~310~~308,~~982~~922,~~203~~061.5299 2,~~169~~428,~~328~~396.2129 0.00 2-A1 0.00 70,~~406~~222,~~025~~800.8670 ~~880~~259,~~003~~224.1556 0.00 2-A2 0.00 18,513,000.00 1624,~~661~~159.7047 0.00 A-IO 0.00 0.00 ~~360~~600,000.00 0.00 M1 0.00 32,511,000.00 3247,~~511~~140.0095 0.00 M2 0.00 26,260,000.00 4160,~~870~~711.1166 0.00 M3 0.00 8,753,000.00 1522,~~415~~351.0176 0.00 M4 0.00 7,503,000.00 1625,~~453~~624.0648 0.00 M5 0.00 5,001,000.00 1019,~~299~~452.9873 0.00 B 0.00 6,253,000.00 1224,~~878~~322.5872 0.00 X 0.00 13,~~118~~754,~~683~~881.0200 0785,317.0092 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~499~~497,~~300~~693,~~912~~743.4069 34,~~555~~296,~~420~~702.8054 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) 1-A 312,896,000.00 ~~312~~310,~~896~~982,~~000~~203.0052 0.00 12,~~913~~060,~~796~~141.4853 0.00 0.00 2-A1 71,233,000.00 7170,~~233~~406,~~000~~025.0086 0.00 ~~826~~183,~~974~~225.1417 0.00 0.00 2-A2 18,513,000.00 18,513,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M1 32,511,000.00 32,511,000.00 0.00 0.00 0.00 0.00 M2 26,260,000.00 26,260,000.00 0.00 0.00 0.00 0.00 M3 8,753,000.00 8,753,000.00 0.00 0.00 0.00 0.00 M4 7,503,000.00 7,503,000.00 0.00 0.00 0.00 0.00 M5 5,001,000.00 5,001,000.00 0.00 0.00 0.00 0.00 B 6,253,000.00 6,253,000.00 0.00 0.00 0.00 0.00 X 11,254,479.36 1113,~~254~~118,~~479~~683.3602 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 500,177,479.36 ~~500~~499,~~177~~300,~~479~~912.3640 0.00 2,~~740~~243,~~770~~366.6270 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 1-A 12,~~913~~060,~~796~~141.4853 ~~310~~308,~~982~~922,~~203~~061.5299 0.~~99388360~~98729949 12,~~913~~060,~~796~~141.4853 2-A1 ~~826~~183,~~974~~225.1417 70,~~406~~222,~~025~~800.8670 0.~~98839058~~98581838 ~~826~~183,~~974~~225.1417 2-A2 0.00 18,513,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M1 0.00 32,511,000.00 1.00000000 0.00 M2 0.00 26,260,000.00 1.00000000 0.00 M3 0.00 8,753,000.00 1.00000000 0.00 M4 0.00 7,503,000.00 1.00000000 0.00 M5 0.00 5,001,000.00 1.00000000 0.00 B 0.00 6,253,000.00 1.00000000 0.00 X 0.00 13,~~118~~754,~~683~~881.0200 1.~~16564104~~22216946 0.00 R 0.00 0.00 0.00000000 0.00 Totals 2,~~740~~243,~~770~~366.6270 ~~499~~497,~~300~~693,~~912~~743.4069 0.~~99824749~~99503429 2,~~740~~243,~~770~~366.6270

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A 312,896,000.00 ~~1000~~993.~~00000000~~88360196 0.00000000 6.~~11639804~~58410951 0.00000000 2-A1 71,233,000.00 ~~1000~~988.~~00000000~~39057544 0.00000000 112.~~60942456~~57219505 0.00000000 2-A2 18,513,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 32,511,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 26,260,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 8,753,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 7,503,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 5,001,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 6,253,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 11,254,479.36 ~~1000~~1165.~~00000000~~64103948 0.00000000 0.00000000 0.00000000 R 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 1-A 0.00000000 6.~~11639804~~58410951 ~~993~~987.~~88360196~~29949245 0.~~99388360~~98729949 6.~~11639804~~58410951 2-A1 0.00000000 112.~~60942456~~57219505 ~~988~~985.~~39057544~~81838053 0.~~98839058~~98581838 112.~~60942456~~57219505 2-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,~~165~~222.~~64103948~~16946338 1.~~16564104~~22216946 0.00000000 R 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 1-A 312,896,000.00 1.47000% ~~312~~310,~~896~~982,~~000~~203.0052 ~~255~~368,~~531~~254.7376 0.00 0.00 2-A1 71,233,000.00 1.34000% 7170,~~233~~406,~~000~~025.0086 5375,~~029~~999.0139 0.00 0.00 2-A2 18,513,000.00 1.62000% 18,513,000.00 1624,~~661~~159.7047 0.00 0.00 A-IO 0.00 6.00000% 120,000,000.00 ~~360~~600,000.00 0.00 0.00 M1 32,511,000.00 1.80000% 32,511,000.00 3247,~~511~~140.0095 0.00 0.00 M2 26,260,000.00 2.87000% 26,260,000.00 4160,~~870~~711.1166 0.00 0.00 M3 8,753,000.00 3.17000% 8,753,000.00 1522,~~415~~351.0176 0.00 0.00 M4 7,503,000.00 4.12000% 7,503,000.00 1724,~~173~~901.5362 0.00 0.00 M5 5,001,000.00 4.37000% 5,001,000.00 1217,~~141~~604.3291 0.00 0.00 B 6,253,000.00 4.37000% 6,253,000.00 1522,~~180~~012.8930 0.00 0.00 X 11,254,479.36 0.00000% 1113,~~254~~118,~~479~~683.3602 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 500,177,479.36 ~~819~~1,~~514~~263,136.3082 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 1-A 0.00 0.00 ~~255~~368,~~531~~254.7376 0.00 ~~310~~308,~~982~~922,~~203~~061.5299 2-A1 0.00 0.00 5375,~~029~~999.0139 0.00 70,~~406~~222,~~025~~800.8670 2-A2 0.00 0.00 1624,~~661~~159.7047 0.00 18,513,000.00 A-IO 0.00 0.00 ~~360~~600,000.00 0.00 120,000,000.00 M1 0.00 0.00 3247,~~511~~140.0095 0.00 32,511,000.00 M2 0.00 0.00 4160,~~870~~711.1166 0.00 26,260,000.00 M3 0.00 0.00 1522,~~415~~351.0176 0.00 8,753,000.00 M4 0.00 0.00 1625,~~453~~624.0648 0.00 7,503,000.00 M5 0.00 0.00 1019,~~299~~452.9873 0.00 5,001,000.00 B 0.00 0.00 1224,~~878~~322.5872 0.00 6,253,000.00 X 0.00 0.00 0785,317.0092 0.00 13,~~118~~754,~~683~~881.0200 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~814~~2,~~650~~053,335.1884 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 1-A 312,896,000.00 1.47000% ~~1000~~993.~~00000000~~88360196 01.~~81666666~~17692383 0.00000000 0.00000000 2-A1 71,233,000.00 1.34000% ~~1000~~988.~~00000000~~39057544 01.~~74444443~~06691267 0.00000000 0.00000000 2-A2 18,513,000.00 1.62000% 1000.00000000 01.~~90000000~~30500027 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000000 35.00000000 0.00000000 0.00000000 M1 32,511,000.00 1.80000% 1000.00000000 1.~~00000000~~45000000 0.00000000 0.00000000 M2 26,260,000.00 2.87000% 1000.00000000 12.~~59444440~~31194440 0.00000000 0.00000000 M3 8,753,000.00 3.17000% 1000.00000000 12.~~76111162~~55361133 0.00000000 0.00000000 M4 7,503,000.00 4.12000% 1000.00000000 23.~~28888844~~31888844 0.00000000 0.00000000 M5 5,001,000.00 4.37000% 1000.00000000 23.~~42777844~~52027794 0.00000000 0.00000000 B 6,253,000.00 4.37000% 1000.00000000 23.~~42777707~~52027827 0.00000000 0.00000000 X 11,254,479.36 0.00000% ~~1000~~1165.~~00000000~~64103948 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denominations.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance 1-A 0.00000000 0.00000000 01.~~81666666~~17692383 0.00000000 ~~993~~987.~~88360196~~29949245 2-A1 0.00000000 0.00000000 01.~~74444443~~06691267 0.00000000 ~~988~~985.~~39057544~~81838053 2-A2 0.00000000 0.00000000 01.~~90000000~~30500027 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 35.00000000 0.00000000 1000.00000000 M1 0.00000000 0.00000000 1.~~00000000~~45000000 0.00000000 1000.00000000 M2 0.00000000 0.00000000 12.~~59444440~~31194440 0.00000000 1000.00000000 M3 0.00000000 0.00000000 12.~~76111162~~55361133 0.00000000 1000.00000000 M4 0.00000000 0.00000000 23.~~19286419~~41523124 0.00000000 1000.00000000 M5 0.00000000 0.00000000 23.~~05958408~~88976805 0.00000000 1000.00000000 B 0.00000000 0.00000000 23.~~05958420~~88976811 0.00000000 1000.00000000 X 0.00000000 0.00000000 069.~~00000000~~77825405 0.00000000 ~~1165~~1222.~~64103948~~16946338 R 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 34,~~765~~507,~~614~~033.9710 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 34,~~765~~507,~~614~~033.9710 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 210,~~194~~330.1756 Payment of Interest and Principal 34,~~555~~296,~~420~~702.8054 Total Withdrawals (Pool Distribution Amount) 34,~~765~~507,~~614~~033.9710 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~207~~208,~~901~~042.4704 Wells Fargo Bank Minnesota, N.A. 2,~~292~~288.7052 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 210,~~194~~330.1756

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund ~~1,000~~0.00 14,~~000~~881.0011 05,881.0011 01,000.00 Financial Guaranty 0.00 0.00 0.00 0.00

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 04 0 0 0 04 0401,115.0028 0.00 0.00 0.00 0401,115.0028 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 04 0 0 0 04 0401,115.0028 0.00 0.00 0.00 0401,115.0028 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~~145826% 0.000000% 0.000000% 0.000000% 0.~~000000~~145826% 0.~~000000~~080558% 0.000000% 0.000000% 0.000000% 0.~~000000~~080558% 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~~145826% 0.000000% 0.000000% 0.000000% 0.~~000000~~145826% 0.~~000000~~080558% 0.000000% 0.000000% 0.000000% 0.~~000000~~080558%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 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% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 04 0 0 0 04 0401,115.0028 0.00 0.00 0.00 0401,115.0028 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 04 0 0 0 04 0401,115.0028 0.00 0.00 0.00 0401,115.0028 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~195599% 0.000000% 0.000000% 0.000000% 0.~~000000~~195599% 0.~~000000~~117669% 0.000000% 0.000000% 0.000000% 0.~~000000~~117669% 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~~195599% 0.000000% 0.000000% 0.000000% 0.~~000000~~195599% 0.~~000000~~117669% 0.000000% 0.000000% 0.000000% 0.~~000000~~117669% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 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% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 Fixed & Mixed ARM Weighted Average Gross Coupon 6.~~928855~~946447% Weighted Average Net Coupon 6.~~430069~~446447% Weighted Average Pass-Through Rate 6.~~424569~~440947% Weighted Average Maturity(Stepdown Calculation ) ~~356~~355 Beginning Scheduled Collateral Loan Count 2,~~754~~751 Number Of Loans Paid In Full 38 Ending Scheduled Collateral Loan Count 2,~~751~~743 Beginning Scheduled Collateral Balance ~~500~~499,~~177~~300,~~479~~912.3641 Ending Scheduled Collateral Balance ~~499~~497,~~300~~693,~~912~~743.4169 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2003 ~~499~~497,~~468~~921,~~336~~235.4879 Monthly P &I Constant 3,~~132~~135,~~019~~820.1279 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 ~~499~~497,~~300~~693,~~912~~743.4169 Scheduled Principal ~~243~~245,~~971~~514.3580 Unscheduled Principal ~~632~~1,~~595~~361,653.6092

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Coupon Rate 6.~~928855~~946447% Weighted Average Net Rate 6.~~430069~~446447% Weighted Average Pass Through Rate 6.~~424569~~440947% Weighted Average Maturity ~~356~~355 Record Date 0910/3031/2003 Principal and Interest Constant 3,~~132~~135,~~019~~820.1279 Beginning Loan Count 2,~~754~~751 Loans Paid in Full 38 Ending Loan Count 2,~~751~~743 Beginning Scheduled Balance ~~500~~499,~~177~~300,~~479~~912.3641 Ending Scheduled Balance ~~499~~497,~~300~~693,~~912~~743.4169 Ending Actual Balance at 3031-~~Sep~~Oct-2003 ~~499~~497,~~468~~921,~~336~~235.4879 Scheduled Principal ~~243~~245,~~971~~514.3580 Unscheduled Principal ~~632~~1,~~595~~361,653.6092 Scheduled Interest 2,~~888~~890,~~047~~305.7799 Servicing Fee ~~207~~208,~~901~~042.4704 Master Servicing Fee 2,~~292~~288.5052 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 2,~~677~~679,~~853~~975.8043 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Special Servicing Fee 0.00 Prepayment Penalties 0.00

Miscellaneous Reporting Monthly Excess Cashflow 1,~~864~~416,~~203~~821.6604 Overcollateralization Amount 13,~~118~~754,~~683~~881.0200 Overcollateralization Deficiency ~~636,197~~0.9800 Aggregate Overcollateralization Release 0.00 Targeted Overcollateralization Amount 13,754,881.00 Cap Payment 0.00

Group Level Collateral Statement Group 1 2 3 Collateral Description Mixed Fixed 6 Month LIBOR ARM Mixed Fixed Weighted Average Coupon Rate 7.~~908803~~933407 6.~~949038~~954084 7.~~039184~~039129 Weighted Average Net Rate 7.~~409959~~433407 6.~~449427~~454084 6.~~539184~~539128 Weighted Average Maturity ~~354~~353 ~~354~~353 ~~356~~355 Beginning Loan Count ~~407~~406 2,~~050~~049 51 Loans Paid In Full 14 14 0 Ending Loan Count ~~406~~402 2,~~049~~045 51 Beginning Scheduled Balance 46,~~601~~543,~~556~~737.0399 ~~342~~341,~~090~~684,~~300~~015.2519 14,~~067~~062,~~717~~019.9058 Ending scheduled Balance 4645,~~543~~941,~~737~~540.9946 ~~341~~340,~~684~~720,~~015~~304.1907 14,~~062~~056,~~019~~124.5805 Record Date 0910/3031/2003 0910/3031/2003 0910/3031/2003 Principal And Interest Constant ~~333~~334,~~848~~607.0474 2,159,~~819~~985.5388 88,053.13 Scheduled Principal 26,~~712~~899.5906 ~~178~~179,~~820~~903.6700 5,~~532~~566.0916 Unscheduled Principal 31575,~~105~~298.4547 ~~227~~783,~~464~~808.3912 ~~166~~329.2337 Scheduled Interest 307,~~135~~708.4568 1,980,~~998~~082.8688 82,~~521~~486.0497 Servicing Fees 19,~~375~~393.6623 142,~~426~~368.8133 5,~~861~~859.5418 Master Servicing Fees 213.6335 1,~~567~~566.8907 64.4845 Trustee Fee 0.00 0.00 0.00 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 ~~287~~288,~~546~~102.1610 1,~~837~~836,~~004~~148.1648 76,~~595~~563.0234 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.~~404376~~427907 6.~~443927~~448584 6.~~533684~~533629

Group Level Collateral Statement Group 4 Total Collateral Description 6 Month Arm Fixed & Mixed ARM Weighted Average Coupon Rate 6.~~373273~~432591 6.~~928855~~946447 Weighted Average Net Rate 5.~~877625~~932591 6.~~430069~~446447 Weighted Average Maturity ~~356~~355 ~~356~~355 Beginning Loan Count ~~246~~245 2,~~754~~751 Loans Paid In Full 10 38 Ending Loan Count 245 2,~~751~~743 Beginning Scheduled Balance 97,~~417~~011,~~905~~139.1865 ~~500~~499,~~177~~300,~~479~~912.3641 Ending scheduled Balance 9796,~~011~~975,~~139~~775.6511 ~~499~~497,~~300~~693,~~912~~743.4169 Record Date 0910/3031/2003 0910/3031/2003 Principal And Interest Constant ~~550~~553,~~298~~174.4204 3,~~132~~135,~~019~~820.1279 Scheduled Principal 3233,~~906~~146.0058 ~~243~~245,~~971~~514.3580 Unscheduled Principal ~~373~~2,~~859~~217.5396 ~~632~~1,~~595~~361,653.6092 Scheduled Interest ~~517~~520,~~392~~027.4246 2,~~888~~890,~~047~~305.7799 Servicing Fees 40,~~237~~421.4630 ~~207~~208,~~901~~042.4704 Master Servicing Fees ~~446~~444.5065 2,~~292~~288.5052 Trustee Fee 0.00 0.00 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 ~~476~~479,~~708~~161.4651 2,~~677~~679,~~853~~975.8043 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 5.~~872125~~927091 6.~~424569~~440947

Filing Compare · FIELDSTONE MORTGAGE INVESTMENT CORP SERIES 2003-1