8-K 1 ace03fm1.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-FM1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-45458-08 54-2116960 Pooling and Servicing Agreement) (Commission 54-2116961 (State or other File Number) 54-2120395 jurisdiction IRS EIN 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-FM1 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-FM1 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-FM1 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 1/7/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Pass-Through Certificates, Series 2003-FM1 Trust, relating to the December 26, 2003 distribution. EX-99.1

ACE Securities Corporation Asset-Backed Pass-Through Certificates Record Date: 1011/3130/03 Distribution Date: 1112/2526/03 ACE Series: 2003-FM1 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 004421BN2 SEN 1.~~46000~~45875% ~~254~~241,~~987~~418,~~596~~252.1943 ~~299~~303,~~893~~256.7553 1315,~~569~~005,~~343~~079.7638 A-2 004421BP7 SEN 1.~~49000~~48875% 5552,~~495~~567,~~319~~942.8646 6667,~~609~~391.8001 24,~~927~~330,~~377~~637.4075 A-IO 004421BQ5 SEN 5.50000% 0.00 208,289.58 0.00 M-1 004421BR3 MEZ 1.~~98000~~97875% 27,267,000.00 4346,~~490~~460.8688 0.00 M-2 004421BS1 MEZ 2.~~97000~~96875% 26,131,000.00 6266,~~518~~801.4290 0.00 M-3 004421BT9 MEZ 3.~~25000~~24875% 4,544,000.00 1112,~~896~~712.4400 0.00 M-4 004421BU6 MEZ 4.~~62000~~61875% 7,953,000.00 2931,~~598~~631.4112 0.00 M-5 004421BV4 MEZ 4.~~62000~~61875% 9,089,000.00 3336,~~826~~149.2329 0.00 M-6 004421BW2 MEZ 4.~~62000~~61875% 4,544,000.00 1618,~~911~~072.2566 0.00 CE ACE03F1CE SUB 0.00000% 9,089,206.00 1,~~790~~663,~~963~~916.6450 0.00 P ACE03FM1P SEN 0.00000% 100.00 ~~476~~574,~~786~~994.5047 0.00 R-III ACE03F1R1 SEN 0.00000% 0.00 0.00 0.00 Totals ~~399~~382,~~100~~603,~~222~~500.0589 3,~~040~~029,~~784~~675.8894 1619,~~496~~335,~~721~~717.1613

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~241~~226,~~418~~413,~~252~~173.4305 1315,~~869~~308,~~237~~335.5191 0.00 A-2 0.00 5248,~~567~~237,~~942~~304.4671 24,~~993~~398,~~987~~028.2076 0.00 A-IO 0.00 0.00 208,289.58 0.00 M-1 0.00 27,267,000.00 4346,~~490~~460.8688 0.00 M-2 0.00 26,131,000.00 6266,~~518~~801.4290 0.00 M-3 0.00 4,544,000.00 1112,~~896~~712.4400 0.00 M-4 0.00 7,953,000.00 2931,~~598~~631.4112 0.00 M-5 0.00 9,089,000.00 3336,~~826~~149.2329 0.00 M-6 0.00 4,544,000.00 1618,~~911~~072.2566 0.00 CE 0.00 9,089,206.00 1,~~790~~663,~~963~~916.6450 0.00 P 0.00 100.00 ~~476~~574,~~786~~994.5047 0.00 R-III 0.00 0.00 0.00 0.00 Totals 0.00 ~~382~~363,~~603~~267,~~500~~783.8976 1922,~~537~~365,~~506~~393.0407 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-1 298,374,000.00 ~~254~~241,~~987~~418,~~596~~252.1943 0.00 1315,~~569~~005,~~343~~079.7638 0.00 0.00 A-2 67,458,000.00 5552,~~495~~567,~~319~~942.8646 0.00 24,~~927~~330,~~377~~637.4075 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 27,267,000.00 27,267,000.00 0.00 0.00 0.00 0.00 M-2 26,131,000.00 26,131,000.00 0.00 0.00 0.00 0.00 M-3 4,544,000.00 4,544,000.00 0.00 0.00 0.00 0.00 M-4 7,953,000.00 7,953,000.00 0.00 0.00 0.00 0.00 M-5 9,089,000.00 9,089,000.00 0.00 0.00 0.00 0.00 M-6 4,544,000.00 4,544,000.00 0.00 0.00 0.00 0.00 CE 9,089,206.86 9,089,206.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 0.00 Totals 454,449,306.86 ~~399~~382,~~100~~603,~~222~~500.0589 0.00 1619,~~496~~335,~~721~~717.1613 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 1315,~~569~~005,~~343~~079.7638 ~~241~~226,~~418~~413,~~252~~173.4305 0.~~80911290~~75882340 1315,~~569~~005,~~343~~079.7638 A-2 24,~~927~~330,~~377~~637.4075 5248,~~567~~237,~~942~~304.4671 0.~~77926921~~71507167 24,~~927~~330,~~377~~637.4075 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 27,267,000.00 1.00000000 0.00 M-2 0.00 26,131,000.00 1.00000000 0.00 M-3 0.00 4,544,000.00 1.00000000 0.00 M-4 0.00 7,953,000.00 1.00000000 0.00 M-5 0.00 9,089,000.00 1.00000000 0.00 M-6 0.00 4,544,000.00 1.00000000 0.00 CE 0.00 9,089,206.00 0.99999991 0.00 P 0.00 100.00 1.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 Totals 1619,~~496~~335,~~721~~717.1613 ~~382~~363,~~603~~267,~~500~~783.8976 0.~~84190579~~79935821 1619,~~496~~335,~~721~~717.1613

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 298,374,000.00 ~~854~~809.~~59053466~~11290002 0.00000000 4550.~~47763465~~28950036 0.00000000 A-2 67,458,000.00 ~~822~~779.~~66476711~~26921136 0.00000000 4364.~~39555575~~19754143 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 27,267,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 26,131,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 4,544,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 7,953,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 9,089,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 4,544,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 9,089,206.86 999.99990538 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-III 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 4550.~~47763465~~28950036 ~~809~~758.~~11290002~~82339966 0.~~80911290~~75882340 4550.~~47763465~~28950036 A-2 0.00000000 4364.~~39555575~~19754143 ~~779~~715.~~26921136~~07166993 0.~~77926921~~71507167 4364.~~39555575~~19754143 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 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 999.99990538 0.99999991 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-III 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-1 298,374,000.00 1.~~46000~~45875% ~~254~~241,~~987~~418,~~596~~252.1943 ~~299~~303,~~893~~256.7553 0.00 0.00 A-2 67,458,000.00 1.~~49000~~48875% 5552,~~495~~567,~~319~~942.8646 6667,~~609~~391.8001 0.00 0.00 A-IO 0.00 5.50000% 45,445,000.00 208,289.58 0.00 0.00 M-1 27,267,000.00 1.~~98000~~97875% 27,267,000.00 4346,~~490~~460.8689 0.00 0.00 M-2 26,131,000.00 2.~~97000~~96875% 26,131,000.00 6266,~~518~~801.4291 0.00 0.00 M-3 4,544,000.00 3.~~25000~~24875% 4,544,000.00 1112,~~896~~712.4400 0.00 0.00 M-4 7,953,000.00 4.~~62000~~61875% 7,953,000.00 2931,~~598~~631.4112 0.00 0.00 M-5 9,089,000.00 4.~~62000~~61875% 9,089,000.00 3336,~~826~~149.2329 0.00 0.00 M-6 4,544,000.00 4.~~62000~~61875% 4,544,000.00 1618,~~911~~072.2566 0.00 0.00 CE 9,089,206.86 0.00000% 9,089,206.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-III 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 454,449,306.86 ~~773~~790,~~034~~764.7499 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 ~~299~~303,~~893~~256.7553 0.00 ~~241~~226,~~418~~413,~~252~~173.4305 A-2 0.00 0.00 6667,~~609~~391.8001 0.00 5248,~~567~~237,~~942~~304.4671 A-IO 0.00 0.00 208,289.58 0.00 45,445,000.00 M-1 0.00 0.00 4346,~~490~~460.8688 0.00 27,267,000.00 M-2 0.00 0.00 6266,~~518~~801.4290 0.00 26,131,000.00 M-3 0.00 0.00 1112,~~896~~712.4400 0.00 4,544,000.00 M-4 0.00 0.00 2931,~~598~~631.4112 0.00 7,953,000.00 M-5 0.00 0.00 3336,~~826~~149.2329 0.00 9,089,000.00 M-6 0.00 0.00 1618,~~911~~072.2566 0.00 4,544,000.00 CE 0.00 0.00 1,~~790~~663,~~963~~916.6450 0.00 9,089,206.00 P 0.00 0.00 ~~476~~574,~~786~~994.5047 0.00 100.00 R-III 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 3,~~040~~029,~~784~~675.8894 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-1 298,374,000.00 1.~~46000~~45875% ~~854~~809.~~59053466~~11290002 1.~~00509344~~01636379 0.00000000 0.00000000 A-2 67,458,000.00 1.~~49000~~48875% ~~822~~779.~~66476711~~26921136 0.~~98742625~~99900694 0.00000000 0.00000000 A-IO 0.00 5.50000% 1000.00000000 4.58333326 0.00000000 0.00000000 M-1 27,267,000.00 1.~~98000~~97875% 1000.00000000 1.~~59499982~~70392379 0.00000000 0.00000000 M-2 26,131,000.00 2.~~97000~~96875% 1000.00000000 2.~~39250010~~55642379 0.00000000 0.00000000 M-3 4,544,000.00 3.~~25000~~24875% 1000.00000000 2.~~61805458~~79753521 0.00000000 0.00000000 M-4 7,953,000.00 4.~~62000~~61875% 1000.00000000 3.~~72166604~~97725638 0.00000000 0.00000000 M-5 9,089,000.00 4.~~62000~~61875% 1000.00000000 3.~~72166685~~97725712 0.00000000 0.00000000 M-6 4,544,000.00 4.~~62000~~61875% 1000.00000000 3.~~72166593~~97725792 0.00000000 0.00000000 CE 9,089,206.86 0.00000% 999.99990538 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-III 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.~~00509344~~01636379 0.00000000 ~~809~~758.~~11290002~~82339966 A-2 0.00000000 0.00000000 0.~~98742625~~99900694 0.00000000 ~~779~~715.~~26921136~~07166993 A-IO 0.00000000 0.00000000 4.58333326 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.~~59499982~~70392342 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~39250010~~55642341 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~61805458~~79753521 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~72166604~~97725638 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.~~72166685~~97725712 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.~~72166593~~97725792 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~197~~183.~~04289578~~06509310 0.00000000 999.99990538 P 0.00000000 0.00000000 ~~4767865~~5749944.~~00000000~~70000000 0.00000000 1000.00000000 R-III 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 1921,~~241~~915,~~697~~938.2365 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~238~~279,~~867~~918.0087 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~476~~574,~~786~~994.5047 Total Deposits 1922,~~957~~770,~~350~~851.7399 Withdrawals Reimbursement for Servicer Advances ~~246~~238,~~069~~867.8000 Payment of Service Fee ~~173~~166,~~774~~591.8992 Payment of Interest and Principal 1922,~~537~~365,~~506~~393.0407 Total Withdrawals (Pool Distribution Amount) 1922,~~957~~770,~~350~~851.7399 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~166~~159,~~291~~418.7510 Master Servicing Fee - Wells Fargo 7,~~483~~173.1482 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~173~~166,~~774~~591.8992

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 01 0 0 01 035,834.0026 0.00 0.00 035,834.0026 30 Days ~~105~~131 03 01 0 ~~105~~135 1113,~~911~~148,~~451~~920.1153 0293,113.0024 0212,766.0009 0.00 1113,~~911~~654,~~451~~799.1186 60 Days 5551 05 03 0 5559 64,~~418~~994,~~728~~908.2410 0292,041.0071 0481,108.0009 0.00 65,~~418~~768,~~728~~057.2490 90 Days 2819 02 020 0 2841 31,~~744~~887,~~453~~636.3168 0301,777.0007 03,437,168.0053 0.00 35,~~744~~626,~~453~~582.3128 120 Days 267 05 013 0 2625 2707,~~919,387~~132.0643 0533,687.0087 01,874,446.0056 0.00 23,~~919~~115,~~387~~266.0686 150 Days 1110 31 914 01 2326 ~~382~~257,~~129~~714.6053 ~~181~~67,~~711~~131.7267 12,~~421~~324,~~506~~879.3024 0318,077.0081 12,~~985~~967,~~347~~803.6225 180+ Days 1018 38 1721 02 3049 ~~645~~690,~~232~~120.3603 ~~367~~1,~~795~~018,799.3599 2,~~089~~305,~~289~~616.5622 0219,326.0053 34,~~102~~233,~~317~~862.2777 Totals ~~235~~236 625 2672 03 ~~267~~336 2621,~~021~~686,~~381~~432.6830 ~~549~~2,~~507~~542,385.0781 310,~~510~~635,~~795~~984.8673 0537,404.0034 3035,~~081~~402,~~684~~207.6118 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~~032531% 0.000000% 0.000000% 0.~~000000~~032531% 0.~~000000~~009852% 0.000000% 0.000000% 0.~~000000~~009852% 30 Days 34.~~266957~~261548% 0.~~000000~~097593% 0.~~000000~~032531% 0.000000% 34.~~266957~~391672% 3.~~109957~~615148% 0.~~000000~~080588% 0.~~000000~~058498% 0.000000% 3.~~109957~~754234% 60 Days 1.~~711263~~659076% 0.~~000000~~162655% 0.~~000000~~097593% 0.000000% 1.~~711263~~919323% 1.~~675864~~373294% 0.~~000000~~080294% 0.~~000000~~132275% 0.000000% 1.~~675864~~585863% 90 Days 0.~~871189~~618087% 0.~~000000~~065062% 0.~~000000~~650618% 0.000000% 01.~~871189~~333767% 0.~~977638~~518984% 0.~~000000~~082970% 0.~~000000~~945011% 0.000000% 01.~~977638~~546966% 120 Days 0.~~808961~~227716% 0.~~000000~~162655% 0.~~000000~~422902% 0.000000% 0.~~808961~~813273% 0.~~762222~~194418% 0.~~000000~~146731% 0.~~000000~~515358% 0.000000% 0.~~762222~~856508% 150 Days 0.~~342253~~325309% 0.~~093342~~032531% 0.~~280025~~455433% 0.~~000000~~032531% 0.~~715619~~845804% 0.~~099770~~070856% 0.~~047443~~018457% 0.~~371141~~639199% 0.~~000000~~087452% 0.~~518354~~815964% 180+ Days 0.~~311139~~585556% 0.~~093342~~260247% 0.~~528936~~683149% 0.~~000000~~065062% 01.~~933416~~594014% 0.~~168464~~189741% 0.~~096028~~280108% 0.~~545492~~633903% 0.~~000000~~060301% 01.~~809983~~164053% Totals 7.~~311761~~677293% 0.~~186683~~813273% 02.~~808961~~342225% 0.~~000000~~097593% 810.~~307405~~930384% 65.~~793914~~962441% 0.~~143471~~699000% 02.~~916633~~924244% 0.~~000000~~147753% 79.~~854017~~733439%

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 01 0 0 01 035,834.0026 0.00 0.00 035,834.0026 30 Days 97125 03 01 0 97129 1012,~~931~~547,~~191~~386.5236 0293,113.0024 0212,766.0009 0.00 1013,~~931~~053,~~191~~265.5269 60 Days 5147 05 02 0 5154 54,~~846~~596,~~496~~942.7581 0292,041.0071 0331,610.0082 0.00 5,~~846~~220,~~496~~595.7534 90 Days 2418 01 019 0 2438 21,~~854~~820,~~888~~221.4743 0249,377.0048 03,158,158.0050 0.00 25,~~854~~227,~~888~~757.4741 120 Days 244 05 012 0 2421 2215,~~469,854~~580.4323 0533,687.0087 01,476,433.0092 0.00 2,~~469~~225,~~854~~702.4302 150 Days 109 31 713 01 2024 ~~322~~206,~~559~~449.4714 ~~181~~67,~~711~~131.7267 ~~993~~1,~~122~~926,612.2400 0318,077.0081 12,~~497~~518,~~393~~270.4362 180 Days 15 8 320 172 045 ~~28 567~~552,~~107~~424.1064 ~~367~~1,~~795~~018,799.3599 2,~~089~~226,~~289~~118.5647 0219,326.0053 34,~~024~~016,~~192~~669.0163 Totals ~~214~~218 6 24 067 ~~244~~3 22312 19,~~992~~939,~~097~~004.7461 ~~549~~2,~~507~~489,986.0722 39,~~082~~331,~~411~~699.80 0537,404.0034 2632,~~624~~298,~~016~~094.6197 0-29 Days 0.~~000000~~035971% 0.000000% 0.000000% 0.~~000000~~035971% 0.~~000000~~011982% 0.000000% 0.000000% 0.~~000000~~011982% 30 Days 34.~~348291~~496403% 0.~~000000~~107914% 0.~~000000~~035971% 0.000000% 34.~~348291~~640288% 34.~~480882~~195513% 0.~~000000~~098009% 0.~~000000~~071143% 0.000000% 34.~~480882~~364666% 60 Days 1.~~760442~~690647% 0.~~000000~~179856% 0.~~000000~~071942% 0.000000% 1.~~760442~~942446% 1.~~861733~~537096% 0.~~000000~~097651% 0.~~000000~~110882% 0.000000% 1.~~861733~~745629% 90 Days 0.~~828443~~647482% 0.~~000000~~035971% 0.~~000000~~683453% 0.000000% 01.~~828443~~366906% 0.~~909098~~608634% 0.~~000000~~083385% 01.~~000000~~056004% 0.000000% 01.~~909098~~748023% 120 Days 0.~~828443~~143885% 0.~~000000~~179856% 0.~~000000~~431655% 0.000000% 0.~~828443~~755396% 0.~~786490~~072084% 0.~~000000~~178451% 0.~~000000~~493680% 0.000000% 0.~~786490~~744216% 150 Days 0.~~345185~~323741% 0.~~103555~~035971% 0.~~241629~~467626% 0.~~000000~~035971% 0.~~690369~~863309% 0.~~102714~~069031% 0.~~057863~~022447% 0.~~316246~~644208% 0.~~000000~~106357% 0.~~476824~~842043% 180 Days 0.~~276148~~539568% 0.~~103555~~287770% 0.~~586814~~719424% 0.~~000000~~071942% 01.~~966517~~618705% 0.~~180587~~184716% 0.~~117119~~340660% 0.~~665304~~744355% 0.~~000000~~073337% 01.~~963011~~343068% Totals 7.~~386952~~841727% 0.~~207111~~863309% 02.~~828443~~410072% 0.~~000000~~107914% 811.~~422506~~223022% 76.~~321505~~667075% 0.~~174983~~832585% 03.~~981550~~120273% 0.~~000000~~179694% 810.~~478037~~799627% 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 86 0 0 0 86 ~~980~~601,~~259~~534.5917 0.00 0.00 0.00 ~~980~~601,~~259~~534.5917 60 Days 4 0 01 0 45 ~~572~~397,~~231~~965.4929 0.00 0149,497.0027 0.00 ~~572~~547,~~231~~462.4956 90 Days 41 01 01 0 43 ~~889~~67,~~564~~415.8425 052,399.0059 0279,010.0003 0.00 ~~889~~398,~~564~~824.8487 120 Days 23 0 01 0 24 ~~449~~491,~~532~~552.6320 0.00 0398,012.0064 0.00 ~~449~~889,~~532~~564.6384 150 Days 1 0 21 0 32 5951,~~570~~265.1339 0.00 ~~428~~398,~~384~~267.0624 0.00 ~~487~~449,~~954~~532.1963 180 Days 23 0 01 0 24 78137,~~125~~695.2639 0.00 079,497.0075 0.00 78217,~~125~~193.2614 Totals 2118 01 25 0 2324 31,~~029~~747,~~283~~427.9469 052,399.0059 ~~428~~1,~~384~~304,284.0693 0.00 3,~~457~~104,~~668~~112.0021 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.~~523659~~040816% 0.000000% 0.000000% 0.000000% 2.~~523659~~040816% 10.~~421181~~930439% 0.000000% 0.000000% 0.000000% 10.~~421181~~930439% 60 Days 1.~~261830~~360544% 0.000000% 0.~~000000~~340136% 0.000000% 1.~~261830~~700680% 0.~~829621~~615563% 0.000000% 0.~~000000~~231239% 0.000000% 0.~~829621~~846802% 90 Days 10.~~261830~~340136% 0.~~000000~~340136% 0.~~000000~~340136% 0.000000% 1.~~261830~~020408% 10.~~289691~~104276% 0.~~000000~~081050% 0.~~000000~~431566% 0.000000% 10.~~289691~~616893% 120 Days 01.~~630915~~020408% 0.000000% 0.~~000000~~340136% 0.000000% 01.~~630915~~360544% 0.~~651732~~760321% 0.000000% 0.~~000000~~615637% 0.000000% 01.~~651732~~375958% 150 Days 0.~~315457~~340136% 0.000000% 0.~~630915~~340136% 0.000000% 0.~~946372~~680272% 0.~~086365~~079296% 0.000000% 0.~~621071~~616030% 0.000000% 0.~~707436~~695326% 180 Days 01.~~630915~~020408% 0.000000% 0.~~000000~~340136% 0.000000% 01.~~630915~~360544% 0.~~113266~~212984% 0.000000% 0.~~000000~~122965% 0.000000% 0.~~113266~~335949% Totals 6.~~624606~~122449% 0.~~000000~~340136% 01.~~630915~~700680% 0.000000% 78.~~255521~~163265% 42.~~391856~~702880% 0.~~000000~~081050% 02.~~621071~~017437% 0.000000% 54.~~012928~~801367%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~238~~279,~~867~~918.0087

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 8.~~231837~~221378% Weighted Average Net Coupon 7.~~731838~~721378% Weighted Average Pass-Through Rate 7.~~709338~~698878% Weighted Average Maturity(Stepdown Calculation ) ~~334~~333 Beginning Scheduled Collateral Loan Count 3,~~346~~214 Number Of Loans Paid In Full ~~132~~140 Ending Scheduled Collateral Loan Count 3,~~214~~074 Beginning Scheduled Collateral Balance ~~399~~382,~~100~~603,~~222~~500.0589 Ending Scheduled Collateral Balance ~~382~~363,~~603~~267,~~500~~783.8976 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2003 ~~383~~363,~~010~~717,~~164~~361.1004 Monthly P &I Constant 32,~~101~~972,~~427~~636.6599 Special Servicing Fee 0.00 Prepayment Penalties ~~476~~574,~~786~~994.5047 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~382~~363,~~603~~267,~~500~~783.8976 Scheduled Principal ~~363~~351,~~307~~363.1258 Unscheduled Principal 1618,~~133~~984,~~414~~353.0455 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 9,089,206.00 Overcollateralized Amount 9,089,206.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Coupon Rate 8.~~231837~~221378% Weighted Average Net Rate 7.~~731838~~721378% Weighted Average Pass Through Rate 7.~~709338~~698878% Weighted Average Maturity ~~334~~333 Record Date 1011/3130/2003 Principal and Interest Constant 32,~~101~~972,~~427~~636.6599 Beginning Loan Count 3,~~346~~214 Loans Paid in Full ~~132~~140 Ending Loan Count 3,~~214~~074 Beginning Scheduled Balance ~~399~~382,~~100~~603,~~222~~500.0589 Ending Scheduled Balance ~~382~~363,~~603~~267,~~500~~783.8976 Ending Actual Balance at 3130-~~Oct~~Nov-2003 ~~383~~363,~~010~~717,~~164~~361.1004 Scheduled Principal ~~363~~351,~~307~~363.1258 Unscheduled Principal 1618,~~133~~984,~~414~~353.0455 Scheduled Interest 2,~~737~~621,~~773~~273.2741 Servicing Fee ~~166~~159,~~291~~418.7510 Master Servicing Fee 7,~~483~~173.1482 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,~~564~~454,~~345~~681.6449 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Special Servicing Fee 0.00 Prepayment Penalties ~~476~~574,~~786~~994.5047 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 9,089,206.00 Overcollateralized Amount 9,089,206.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00

Miscellaneous Reporting Required Overcollateralization Amount: 9,089,206.00 Overcollateralization Increase Amount: 0.00 Overcollateralization Reduction Amount: 0.00 Credit Enhancement Percentage: 2324.~~1616~~3945%

Group Level Collateral Statement Group 1 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed & Mixed ARM Weighted Average Coupon Rate 8.~~341013~~335596 7.~~743446~~701421 8.~~231837~~221378 Weighted Average Net Rate 7.~~841014~~835596 7.~~234462~~201422 7.~~731838~~721378 Weighted Average Maturity ~~331~~330 ~~336~~335 ~~334~~333 Beginning Loan Count 32,~~014~~897 ~~332~~317 3,~~346~~214 Loans Paid In Full 117 1523 ~~132~~140 Ending Loan Count 2,~~897~~780 ~~317~~294 3,~~214~~074 Beginning Scheduled Balance ~~327~~313,~~264~~694,~~174~~830.2145 7168,~~836~~908,~~047~~670.8444 ~~399~~382,~~100~~603,~~222~~500.0589 Ending scheduled Balance ~~313~~298,~~694~~689,~~830~~751.4507 6864,~~908~~578,~~670~~032.4469 ~~382~~363,~~603~~267,~~500~~783.8976 Record Date 1011/3130/2003 1011/3130/2003 1011/3130/2003 Principal And Interest Constant 2,~~571~~465,~~284~~347.2741 ~~530~~507,~~143~~289.3858 32,~~101~~972,~~427~~636.6599 Scheduled Principal ~~296~~286,~~521~~319.9456 6665,~~785~~044.1802 ~~363~~351,~~307~~363.1258 Unscheduled Principal 1314,~~272~~718,~~821~~759.82 24,~~860~~265,~~592~~593.2273 1618,~~133~~984,~~414~~353.0455 Scheduled Interest 2,~~274~~179,~~762~~027.3385 ~~463~~442,~~010~~245.9456 2,~~737~~621,~~773~~273.2741 Servicing Fees ~~136~~130,~~360~~706.0616 2928,~~931~~711.6994 ~~166~~159,~~291~~418.7510 Master Servicing Fees 65,~~136~~881.2078 1,~~346~~292.9404 7,~~483~~173.1482 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 2,~~132~~042,~~266~~439.0791 ~~432~~412,~~079~~241.5758 2,~~564~~454,~~345~~681.6449 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.~~818514~~813096 7.~~211962~~178923 7.~~709338~~698878

Filing Compare · ACE SECURITIES CORP HOME EQUITY LOAN TRUST SERIES 2003-FM1