8-K 1 ace03hs1.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 ACE SECURITIES CORP. Asset-Backed Pass-Through Certificates, Series 2003-HS1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-45458-10 54-2123746 Pooling and Servicing Agreement) (Commission 54-2123747 (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 ACE SECURITIES CORP., Asset-Backed Pass-Through Certificates, Series 2003-HS1 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 Asset-Backed Pass-Through Certificates, Series 2003-HS1 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. ACE SECURITIES CORP. Asset-Backed Pass-Through Certificates, Series 2003-HS1 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 1/7/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Pass-Through Certificates, Series 2003-HS1 Trust, relating to the December 26, 2003 distribution. EX-99.1

ACE Securities Corporation Asset-Backed Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 ACE Series: 2003-HS1 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 004421CD3 SEN 1.~~47000~~46875% ~~277~~261,~~381~~966,~~992~~009.8507 ~~362~~331,~~445~~323.8033 6,~~154~~513,857.9791 A-2A 004421CE1 SEN 1.~~49000~~48875% 2422,~~161~~431,~~842~~231.5616 3228,~~001~~756.0237 ~~783~~681,~~747~~832.5519 A-2B 004421CM3 SEN 1.~~41000~~40875% 3431,~~169~~722,~~642~~214.8066 4238,~~825~~481.9591 1964,~~108,374~~246.6409 M-1 004421CF8 SUB 1.~~87000~~86875% 22,446,000.00 3736,~~310~~120.2413 0.00 M-2 004421CG6 SUB 2.~~87000~~86875% 20,406,000.00 5250,~~057~~409.9720 0.00 M-3 004421CH4 SUB 3.~~62000~~61875% 4,081,000.00 1312,~~131~~716.7599 0.00 M-4 004421CJ0 SUB 4.~~87000~~86875% 4,081,000.00 17,~~666~~109.2073 0.00 M-5 004421CK7 SUB 5.~~12000~~11875% 2,040,000.00 98,~~284~~991.2794 0.00 M-6 004421CL5 SUB 5.~~12000~~11875% 4,081,000.00 1817,~~573~~988.0828 0.00 CE ACE03HS1E SEN 0.00000% 7,142,685.00 1,~~890~~812,~~472~~515.8878 0.00 P ACE03HS1P SEN 0.00000% 100.00 ~~118~~153,~~445~~740.9343 0.00 R ACE03HS11 SEN 0.00000% 0.00 0.00 0.00 Totals ~~399~~380,~~991~~397,~~263~~239.2189 2,~~594~~508,~~215~~154.09 8,~~046~~159,~~980~~936.1619

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~271~~255,~~227~~452,~~134~~151.8816 6,~~517~~845,~~303~~181.7724 0.00 A-2A 0.00 2321,~~378~~749,~~095~~398.0297 ~~815~~710,~~748~~588.5756 0.00 A-2B 0.00 3330,~~061~~757,~~268~~968.1656 1,~~151~~002,~~200~~728.5900 0.00 M-1 0.00 22,446,000.00 3736,~~310~~120.2413 0.00 M-2 0.00 20,406,000.00 5250,~~057~~409.9720 0.00 M-3 0.00 4,081,000.00 1312,~~131~~716.7599 0.00 M-4 0.00 4,081,000.00 17,~~666~~109.2073 0.00 M-5 0.00 2,040,000.00 98,~~284~~991.2794 0.00 M-6 0.00 4,081,000.00 1817,~~573~~988.0828 0.00 CE 0.00 7,142,685.00 1,~~890~~812,~~472~~515.8878 0.00 P 0.00 100.00 ~~118~~153,~~445~~740.9343 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~391~~372,~~944~~237,~~283~~303.0669 10,~~641~~668,~~195~~090.2528 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-1 284,089,000.00 ~~277~~261,~~381~~966,~~992~~009.8507 0.00 6,~~154~~513,857.9791 0.00 0.00 A-2A 24,749,000.00 2422,~~161~~431,~~842~~231.5616 0.00 ~~783~~681,~~747~~832.5519 0.00 0.00 A-2B 35,000,000.00 3431,~~169~~722,~~642~~214.8066 0.00 1964,~~108,374~~246.6409 0.00 0.00 M-1 22,446,000.00 22,446,000.00 0.00 0.00 0.00 0.00 M-2 20,406,000.00 20,406,000.00 0.00 0.00 0.00 0.00 M-3 4,081,000.00 4,081,000.00 0.00 0.00 0.00 0.00 M-4 4,081,000.00 4,081,000.00 0.00 0.00 0.00 0.00 M-5 2,040,000.00 2,040,000.00 0.00 0.00 0.00 0.00 M-6 4,081,000.00 4,081,000.00 0.00 0.00 0.00 0.00 CE 7,142,685.13 7,142,685.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 408,115,785.13 ~~399~~380,~~991~~397,~~263~~239.2189 0.00 8,~~046~~159,~~980~~936.1619 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 6,~~154~~513,857.9791 ~~271~~255,~~227~~452,~~134~~151.8816 0.~~95472593~~89919761 6,~~154~~513,857.9791 A-2A ~~783~~681,~~747~~832.5519 2321,~~378~~749,~~095~~398.0297 0.~~94460766~~87879910 ~~783~~681,~~747~~832.5519 A-2B 1964,~~108,374~~246.6409 3330,~~061~~757,~~268~~968.1656 0.~~94460766~~87879910 1964,~~108,374~~246.6409 M-1 0.00 22,446,000.00 1.00000000 0.00 M-2 0.00 20,406,000.00 1.00000000 0.00 M-3 0.00 4,081,000.00 1.00000000 0.00 M-4 0.00 4,081,000.00 1.00000000 0.00 M-5 0.00 2,040,000.00 1.00000000 0.00 M-6 0.00 4,081,000.00 1.00000000 0.00 CE 0.00 7,142,685.00 0.99999998 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 8,~~046~~159,~~980~~936.1619 ~~391~~372,~~944~~237,~~283~~303.0669 0.~~96037521~~91208749 8,~~046~~159,~~980~~936.1619

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 284,089,000.00 ~~976~~922.~~39117618~~12654862 0.00000000 2122.~~66524564~~92893393 0.00000000 A-2A 24,749,000.00 ~~976~~906.~~27550851~~34899026 0.00000000 3127.~~66784719~~54988848 0.00000000 A-2B 35,000,000.00 ~~976~~906.~~27550857~~34899029 0.00000000 3127.~~66784686~~54988829 0.00000000 M-1 22,446,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 20,406,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 4,081,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 4,081,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 2,040,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 4,081,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 7,142,685.13 999.99998180 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 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 A-1 0.00000000 2122.~~66524564~~92893393 ~~954~~899.~~72593054~~19761469 0.~~95472593~~89919761 2122.~~66524564~~92893393 A-2A 0.00000000 3127.~~66784719~~54988848 ~~944~~878.~~60766172~~79910178 0.~~94460766~~87879910 3127.~~66784719~~54988848 A-2B 0.00000000 3127.~~66784686~~54988829 ~~944~~878.~~60766171~~79910171 0.~~94460766~~87879910 3127.~~66784686~~54988829 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 999.99998180 0.99999998 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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 A-1 284,089,000.00 1.~~47000~~46875% ~~277~~261,~~381~~966,~~992~~009.8507 ~~362~~331,~~445~~323.8033 0.00 0.00 A-2A 24,749,000.00 1.~~49000~~48875% 2422,~~161~~431,~~842~~231.5616 3228,~~001~~756.0237 0.00 0.00 A-2B 35,000,000.00 1.~~41000~~40875% 3431,~~169~~722,~~642~~214.8066 4238,~~825~~481.9591 0.00 0.00 M-1 22,446,000.00 1.~~87000~~86875% 22,446,000.00 3736,~~310~~120.2413 0.00 0.00 M-2 20,406,000.00 2.~~87000~~86875% 20,406,000.00 5250,~~057~~409.9720 0.00 0.00 M-3 4,081,000.00 3.~~62000~~61875% 4,081,000.00 1312,~~131~~716.7599 0.00 0.00 M-4 4,081,000.00 4.~~87000~~86875% 4,081,000.00 17,~~666~~109.2073 0.00 0.00 M-5 2,040,000.00 5.~~12000~~11875% 2,040,000.00 98,~~284~~991.2794 0.00 0.00 M-6 4,081,000.00 5.~~12000~~11875% 4,081,000.00 1817,~~573~~988.0828 0.00 0.00 CE 7,142,685.13 0.00000% 7,142,685.00 0.00 0.00 0.00 P 100.00 0.00000% 0.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 408,115,785.13 ~~585~~541,~~296~~897.2888 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 0.00 0.00 ~~362~~331,~~445~~323.8033 0.00 ~~271~~255,~~227~~452,~~134~~151.8816 A-2A 0.00 0.00 3228,~~001~~756.0237 0.00 2321,~~378~~749,~~095~~398.0297 A-2B 0.00 0.00 4238,~~825~~481.9591 0.00 3330,~~061~~757,~~268~~968.1656 M-1 0.00 0.00 3736,~~310~~120.2413 0.00 22,446,000.00 M-2 0.00 0.00 5250,~~057~~409.9720 0.00 20,406,000.00 M-3 0.00 0.00 1312,~~131~~716.7599 0.00 4,081,000.00 M-4 0.00 0.00 17,~~666~~109.2073 0.00 4,081,000.00 M-5 0.00 0.00 98,~~284~~991.2794 0.00 2,040,000.00 M-6 0.00 0.00 1817,~~573~~988.0828 0.00 4,081,000.00 CE 0.00 0.00 1,~~890~~812,~~472~~515.8878 0.00 7,142,685.00 P 0.00 0.00 ~~118~~153,~~445~~740.9343 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,~~594~~508,~~215~~154.09 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-1 284,089,000.00 1.~~47000~~46875% ~~976~~922.~~39117618~~12654862 1.~~27581779~~16626596 0.00000000 0.00000000 A-2A 24,749,000.00 1.~~49000~~48875% ~~976~~906.~~27550851~~34899026 1.~~29302275~~16192048 0.00000000 0.00000000 A-2B 35,000,000.00 1.~~41000~~40875% ~~976~~906.~~27550857~~34899029 1.~~22359857~~09948314 0.00000000 0.00000000 M-1 22,446,000.00 1.~~87000~~86875% 1000.00000000 1.~~66222222~~60920119 0.00000000 0.00000000 M-2 20,406,000.00 2.~~87000~~86875% 1000.00000000 2.~~55111095~~47031265 0.00000000 0.00000000 M-3 4,081,000.00 3.~~62000~~61875% 1000.00000000 3.~~21777751~~11614555 0.00000000 0.00000000 M-4 4,081,000.00 4.~~87000~~86875% 1000.00000000 4.~~32888998~~19253369 0.00000000 0.00000000 M-5 2,040,000.00 5.~~12000~~11875% 1000.00000000 4.~~55111275~~40781373 0.00000000 0.00000000 M-6 4,081,000.00 5.~~12000~~11875% 1000.00000000 4.~~55111002~~40781181 0.00000000 0.00000000 CE 7,142,685.13 0.00000% 999.99998180 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 0.00000000 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 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 0.00000000 0.00000000 1.~~27581779~~16626596 0.00000000 ~~954~~899.~~72593054~~19761469 A-2A 0.00000000 0.00000000 1.~~29302275~~16192048 0.00000000 ~~944~~878.~~60766172~~79910178 A-2B 0.00000000 0.00000000 1.~~22359857~~09948314 0.00000000 ~~944~~878.~~60766171~~79910171 M-1 0.00000000 0.00000000 1.~~66222222~~60920119 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~55111095~~47031265 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~21777751~~11614555 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 4.~~32888998~~19253369 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 4.~~55111275~~40781373 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 4.~~55111002~~40781181 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~264~~253.~~67257699~~75832016 0.00000000 999.99998180 P 0.00000000 0.00000000 ~~1184459~~1537404.30000000 0.00000000 0.00000000 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 10,~~868~~858,~~918~~504.3989 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~136~~180,~~025~~540.9534 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~118~~153,~~445~~740.9343 Total Deposits 11,~~123~~192,~~390~~785.2766 Withdrawals Reimbursement for Servicer Advances 83146,~~325~~203.0017 Payment of Service Fee ~~398~~378,~~870~~492.0221 Payment of Interest and Principal 10,~~641~~668,~~195~~090.2528 Total Withdrawals (Pool Distribution Amount) 11,~~123~~192,~~390~~785.2766 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~166~~158,~~663~~498.0589 Credit Risk Manager Fee - Murrayhill 4,~~999~~754.8695 Master Servicing Fee - Wells Fargo 5,~~833~~547.2150 MBIA Class A-2B 32,~~132~~907.2287 MGIC ~~218~~206,~~241~~783.6800 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~398~~378,~~870~~492.0221

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 87101 0 0 0 87101 1012,~~519~~011,~~652~~562.5946 0.00 0.00 0.00 1012,~~519~~011,~~652~~562.5946 60 Days 3836 0 0 0 3836 4,~~546~~548,~~664~~829.3318 0.00 0.00 0.00 4,~~546~~548,~~664~~829.3318 90 Days 2426 0 0 0 2426 2,~~667~~847,~~757~~401.0715 0.00 0.00 0.00 2,~~667~~847,~~757~~401.0715 120 Days 024 0 0 0 024 02,353,291.0074 0.00 0.00 0.00 02,353,291.0074 150 Days 118 0 0 0 118 621,~~593~~900,872.7719 0.00 0.00 0.00 621,~~593~~900,872.7719 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~150~~205 0 0 0 ~~150~~205 1723,~~796~~661,~~667~~956.7672 0.00 0.00 0.00 1723,~~796~~661,~~667~~956.7672 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 23.~~768937~~351029% 0.000000% 0.000000% 0.000000% 23.~~768937~~351029% 23.~~681949~~224305% 0.000000% 0.000000% 0.000000% 23.~~681949~~224305% 60 Days 1.~~209421~~194426% 0.000000% 0.000000% 0.000000% 1.~~209421~~194426% 1.~~159156~~221058% 0.000000% 0.000000% 0.000000% 1.~~159156~~221058% 90 Days 0.~~763845~~862641% 0.000000% 0.000000% 0.000000% 0.~~763845~~862641% 0.~~680136~~764338% 0.000000% 0.000000% 0.000000% 0.~~680136~~764338% 120 Days 0.~~000000~~796284% 0.000000% 0.000000% 0.000000% 0.~~000000~~796284% 0.~~000000~~631702% 0.000000% 0.000000% 0.000000% 0.~~000000~~631702% 150 Days 0.~~031827~~597213% 0.000000% 0.000000% 0.000000% 0.~~031827~~597213% 0.~~015958~~510258% 0.000000% 0.000000% 0.000000% 0.~~015958~~510258% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 46.~~774029~~801593% 0.000000% 0.000000% 0.000000% 46.~~774029~~801593% 46.~~537199~~351660% 0.000000% 0.000000% 0.000000% 46.~~537199~~351660%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP I, Sub Grp 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 2427 0 0 0 2427 2,~~415~~269,~~810~~769.3391 0.00 0.00 0.00 2,~~415~~269,~~810~~769.3391 60 Days 98 0 0 0 98 ~~607~~688,~~496~~959.7709 0.00 0.00 0.00 ~~607~~688,~~496~~959.7709 90 Days 59 0 0 0 59 ~~344~~795,~~062~~398.5896 0.00 0.00 0.00 ~~344~~795,~~062~~398.5896 120 Days 06 0 0 0 06 0421,455.0076 0.00 0.00 0.00 0421,455.0076 150 Days 14 0 0 0 14 62285,~~593~~527.7712 0.00 0.00 0.00 62285,~~593~~527.7712 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 3954 0 0 0 3954 34,~~429~~461,~~963~~110.4584 0.00 0.00 0.00 34,~~429~~461,~~963~~110.4584 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.~~558635~~950820% 0.000000% 0.000000% 0.000000% 2.~~558635~~950820% 2.~~795914~~702256% 0.000000% 0.000000% 0.000000% 2.~~795914~~702256% 60 Days 0.~~959488~~874317% 0.000000% 0.000000% 0.000000% 0.~~959488~~874317% 0.~~703080~~820234% 0.000000% 0.000000% 0.000000% 0.~~703080~~820234% 90 Days 0.~~533049~~983607% 0.000000% 0.000000% 0.000000% 0.~~533049~~983607% 0.~~398197~~946956% 0.000000% 0.000000% 0.000000% 0.~~398197~~946956% 120 Days 0.~~000000~~655738% 0.000000% 0.000000% 0.000000% 0.~~000000~~655738% 0.~~000000~~501761% 0.000000% 0.000000% 0.000000% 0.~~000000~~501761% 150 Days 0.~~106610~~437158% 0.000000% 0.000000% 0.000000% 0.~~106610~~437158% 0.~~072442~~339932% 0.000000% 0.000000% 0.000000% 0.~~072442~~339932% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 45.~~157783~~901639% 0.000000% 0.000000% 0.000000% 45.~~157783~~901639% 35.~~969634~~311138% 0.000000% 0.000000% 0.000000% 35.~~969634~~311138% DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP I, Sub Grp 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 5466 0 0 0 5466 67,~~499~~196,~~697~~123.4305 0.00 0.00 0.00 67,~~499~~196,~~697~~123.4305 60 Days 2322 0 0 0 2322 2,~~289~~853,~~180~~541.5293 0.00 0.00 0.00 2,~~289~~853,~~180~~541.5293 90 Days 1513 0 0 0 1513 1,~~569~~467,~~033~~706.9934 0.00 0.00 0.00 1,~~569~~467,~~033~~706.9934 120 Days 015 0 0 0 015 01,278,556.0079 0.00 0.00 0.00 01,278,556.0079 150 Days 011 0 0 0 011 01,098,571.0052 0.00 0.00 0.00 01,098,571.0052 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 92127 0 0 0 92127 1013,~~357~~894,~~911~~499.9463 0.00 0.00 0.00 1013,~~357~~894,~~911~~499.9463 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 23.~~864721~~672788% 0.000000% 0.000000% 0.000000% 23.~~864721~~672788% 23.~~728998~~201034% 0.000000% 0.000000% 0.000000% 23.~~728998~~201034% 60 Days 1.~~220159~~224263% 0.000000% 0.000000% 0.000000% 1.~~220159~~224263% 01.~~961148~~269334% 0.000000% 0.000000% 0.000000% 01.~~961148~~269334% 90 Days 0.~~795756~~723428% 0.000000% 0.000000% 0.000000% 0.~~795756~~723428% 0.~~658783~~652876% 0.000000% 0.000000% 0.000000% 0.~~658783~~652876% 120 Days 0.~~000000~~834725% 0.000000% 0.000000% 0.000000% 0.~~000000~~834725% 0.~~000000~~568737% 0.000000% 0.000000% 0.000000% 0.~~000000~~568737% 150 Days 0.~~000000~~612131% 0.000000% 0.000000% 0.000000% 0.~~000000~~612131% 0.~~000000~~488675% 0.000000% 0.000000% 0.000000% 0.~~000000~~488675% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 47.~~880637~~067334% 0.000000% 0.000000% 0.000000% 47.~~880637~~067334% 46.~~348929~~180656% 0.000000% 0.000000% 0.000000% 46.~~348929~~180656% DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP II, Sub Grp 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 13 0 0 0 13 ~~308~~1,~~886~~028,225.6784 0.00 0.00 0.00 ~~308~~1,~~886~~028,225.6784 60 Days 3 0 0 0 3 ~~521~~365,~~441~~759.1954 0.00 0.00 0.00 ~~521~~365,~~441~~759.1954 90 Days 30 0 0 0 30 ~~430,942~~0.00 0.00 0.00 0.00 ~~430,942~~0.00 120 Days 02 0 0 0 02 0325,625.0079 0.00 0.00 0.00 0325,625.0079 150 Days 02 0 0 0 02 0193,055.0005 0.00 0.00 0.00 0193,055.0005 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 710 0 0 0 710 1,~~261~~912,~~269~~666.8622 0.00 0.00 0.00 1,~~261~~912,~~269~~666.8622 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 02.~~943396~~970297% 0.000000% 0.000000% 0.000000% 02.~~943396~~970297% 15.~~673349~~817254% 0.000000% 0.000000% 0.000000% 15.~~673349~~817254% 60 Days 2.~~830189~~970297% 0.000000% 0.000000% 0.000000% 2.~~830189~~970297% 2.~~824833~~069308% 0.000000% 0.000000% 0.000000% 2.~~824833~~069308% 90 Days 20.~~830189~~000000% 0.000000% 0.000000% 0.000000% 20.~~830189~~000000% 20.~~334567~~000000% 0.000000% 0.000000% 0.000000% 20.~~334567~~000000% 120 Days 01.~~000000~~980198% 0.000000% 0.000000% 0.000000% 01.~~000000~~980198% 01.~~000000~~842249% 0.000000% 0.000000% 0.000000% 01.~~000000~~842249% 150 Days 01.~~000000~~980198% 0.000000% 0.000000% 0.000000% 01.~~000000~~980198% 01.~~000000~~092221% 0.000000% 0.000000% 0.000000% 01.~~000000~~092221% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 69.~~603774~~900990% 0.000000% 0.000000% 0.000000% 69.~~603774~~900990% 610.~~832749~~821032% 0.000000% 0.000000% 0.000000% 610.~~832749~~821032% DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP II, Sub Grp 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 85 0 0 0 85 1,~~295~~517,~~258~~443.1666 0.00 0.00 0.00 1,~~295~~517,~~258~~443.1666 60 Days 3 0 0 0 3 1640,~~128,545~~568.8562 0.00 0.00 0.00 1640,~~128,545~~568.8562 90 Days 14 0 0 0 14 ~~323~~584,~~718~~295.5085 0.00 0.00 0.00 ~~323~~584,~~718~~295.5085 120 Days 01 0 0 0 01 0327,653.0040 0.00 0.00 0.00 0327,653.0040 150 Days 01 0 0 0 01 0323,718.0050 0.00 0.00 0.00 0323,718.0050 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1214 0 0 0 1214 23,~~747~~393,~~522~~680.5103 0.00 0.00 0.00 23,~~747~~393,~~522~~680.5103 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 32.~~755869~~487562% 0.000000% 0.000000% 0.000000% 32.~~755869~~487562% 23.~~632462~~294867% 0.000000% 0.000000% 0.000000% 23.~~632462~~294867% 60 Days 1.~~408451~~492537% 0.000000% 0.000000% 0.000000% 1.~~408451~~492537% 21.~~293639~~390884% 0.000000% 0.000000% 0.000000% 21.~~293639~~390884% 90 Days 01.~~469484~~990050% 0.000000% 0.000000% 0.000000% 01.~~469484~~990050% 01.~~657920~~268698% 0.000000% 0.000000% 0.000000% 01.~~657920~~268698% 120 Days 0.~~000000~~497512% 0.000000% 0.000000% 0.000000% 0.~~000000~~497512% 0.~~000000~~711443% 0.000000% 0.000000% 0.000000% 0.~~000000~~711443% 150 Days 0.~~000000~~497512% 0.000000% 0.000000% 0.000000% 0.~~000000~~497512% 0.~~000000~~702899% 0.000000% 0.000000% 0.000000% 0.~~000000~~702899% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 56.~~633803~~965174% 0.000000% 0.000000% 0.000000% 56.~~633803~~965174% 57.~~584022~~368791% 0.000000% 0.000000% 0.000000% 57.~~584022~~368791%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~136~~180,~~025~~540.9534

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.~~624106~~621217% Weighted Average Net Coupon 8.~~124106~~121216% Weighted Average Pass-Through Rate 7.~~436867~~436399% Weighted Average Maturity(Stepdown Calculation ) ~~341~~339 Beginning Scheduled Collateral Loan Count 3,~~193~~072 Number Of Loans Paid In Full 5158 Ending Scheduled Collateral Loan Count 3,~~142~~014 Beginning Scheduled Collateral Balance ~~399~~380,~~991~~397,~~263~~239.2188 Ending Scheduled Collateral Balance ~~391~~372,~~944~~237,~~283~~303.0569 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~392~~372,~~239~~531,~~056~~828.5163 Monthly P &I Constant 32,~~144~~994,~~922~~714.6970 Special Servicing Fee 0.00 Prepayment Penalties ~~118~~153,~~445~~740.9343 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~391~~372,~~944~~237,~~283~~303.0569 Scheduled Principal ~~270~~261,~~283~~808.5187 Unscheduled Principal 7,~~776~~898,~~696~~127.6532 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 7,142,685.00 Overcollateralized Amount 7,142,685.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 8.~~624106~~621217% Weighted Average Net Rate 8.~~124106~~121216% Weighted Average Pass Through Rate 7.~~436867~~436399% Weighted Average Maturity ~~341~~339 Record Date 0911/30/2003 Principal and Interest Constant 32,~~144~~994,~~922~~714.6970 Beginning Loan Count 3,~~193~~072 Loans Paid in Full 5158 Ending Loan Count 3,~~142~~014 Beginning Scheduled Balance ~~399~~380,~~991~~397,~~263~~239.2188 Ending Scheduled Balance ~~391~~372,~~944~~237,~~283~~303.0569 Ending Actual Balance at 30-~~Sep~~Nov-2003 ~~392~~372,~~239~~531,~~056~~828.5163 Scheduled Principal ~~270~~261,~~283~~808.5187 Unscheduled Principal 7,~~776~~898,~~696~~127.6532 Scheduled Interest 2,~~874~~732,~~639~~905.1883 Servicing Fee ~~166~~158,~~663~~498.0589 Master Servicing Fee 5,~~833~~547.2150 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee ~~223~~211,~~241~~537.5495 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 2,~~478~~357,~~901~~321.3849 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.000000 Special Servicing Fee 0.00 Prepayment Penalties ~~118~~153,~~445~~740.9343 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 7,142,685.00 Overcollateralized Amount 7,142,685.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00

Group Level Collateral Statement Group GRP I, Sub Grp 1 GRP I, Sub Grp 2 GRP II, Sub Grp 1 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 8.~~735497~~728382 8.~~647145~~636040 8.~~432553~~448864 Weighted Average Net Rate 8.~~235497~~228382 8.~~147145~~136040 7.~~932553~~948863 Weighted Average Maturity ~~305~~303 ~~352~~350 ~~320~~318 Beginning Loan Count ~~950~~927 1,~~918~~834 ~~107~~105 Loans Paid In Full 12 3337 14 Ending Loan Count ~~938~~915 1,~~885~~797 ~~106~~101 Beginning Scheduled Balance 8785,~~788~~094,~~733~~751.5067 ~~242~~229,~~701~~979,~~768~~766.6469 18,~~531~~180,~~228~~968.9811 Ending scheduled Balance 8683,~~332~~922,~~522~~343.6623 ~~238~~224,~~003~~638,~~121~~317.5122 1817,~~443~~658,~~927~~547.6371 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~708~~687,~~504~~730.5250 1,~~902~~803,~~707~~450.6971 ~~143~~140,~~117~~845.4160 Scheduled Principal 6968,~~439~~780.3690 ~~153~~148,~~809~~355.7939 12,~~896~~838.1049 Unscheduled Principal 1,~~386~~103,~~771~~627.4854 45,~~544~~193,~~837~~094.3408 74509,~~405~~581.2591 Scheduled Interest ~~639~~618,~~065~~949.1660 1,~~748~~655,~~897~~095.9032 ~~130~~128,~~221~~007.3111 Servicing Fees 3635,~~578~~456.6517 ~~101~~95,~~125~~824.7490 7,~~721~~575.3542 Master Servicing Fees 1,~~280~~240.2698 3,~~539~~353.3987 ~~270~~265.2516 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 5251,~~365~~531.9205 ~~135~~127,~~038~~911.5899 1110,~~136~~723.3596 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 ~~548~~530,~~840~~721.3340 1,~~509~~428,~~194~~004.1956 ~~111~~109,~~093~~442.3657 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 7.~~502197~~484195 7.~~461969~~451114 7.~~193914~~223547

Group Level Collateral Statement Group GRP II, Sub Grp 2 Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 8.~~392186~~421930 8.~~624106~~621217 Weighted Average Net Rate 7.~~892185~~921930 8.~~124106~~121216 Weighted Average Maturity ~~352~~350 ~~341~~339 Beginning Loan Count ~~218~~206 3,~~193~~072 Loans Paid In Full 5 5158 Ending Loan Count ~~213~~201 3,~~142~~014 Beginning Scheduled Balance 5047,~~969~~141,~~532~~753.0941 ~~399~~380,~~991~~397,~~263~~239.2188 Ending scheduled Balance 4946,~~164~~018,~~711~~095.2553 ~~391~~372,~~944~~237,~~283~~303.0569 Record Date 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~390~~362,~~593~~687.0789 32,~~144~~994,~~922~~714.6970 Scheduled Principal 3431,~~138~~834.2609 ~~270~~261,~~283~~808.5187 Unscheduled Principal 1,~~770~~091,~~682~~823.5879 7,~~776~~898,~~696~~127.6532 Scheduled Interest ~~356~~330,~~454~~853.8180 2,~~874~~732,~~639~~905.1883 Servicing Fees 2119,~~237~~642.3140 ~~166~~158,~~663~~498.0589 Master Servicing Fees ~~743~~687.3149 5,~~833~~547.2150 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 2421,~~700~~370.6995 ~~223~~211,~~241~~537.5495 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 ~~309~~289,~~773~~152.5096 2,~~478~~357,~~901~~321.3849 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 7.~~293145~~360430 7.~~436867~~436399

Filing Compare · ACE SECURITIES CORP HOME EQUITY LOAN TRUST SERIES 2003 HS1