8-K 1 ffm03ffc_dec.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 FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2003-FFC Trust (Exact name of registrant as specified in its charter) 54-6553616 New York (governing law of 333-104153-04 54-2116909 Pooling and Servicing Agreement) (Commission 54-2116910 (State or other File Number) 54-2116911 jurisdiction 54-2116944 of Incorporation) 54-2116945 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 December 26, 2003 a distribution was made to holders of FIRST FRANKLIN MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2003-FFC 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 Certificates, Series 2003-FFC 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2003-FFC 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: 12/31/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2003-FFC Trust, relating to the December 26, 2003 distribution. EX-99.1

First Franklin Mortgage Loan Trust ~~Asset~~Mortgage ~~Backed~~Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 FFM Series: 2003-FFC 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 S 32027NCT6 SEN 6.00000% 0.00 195,650.00 0.00 A-1 32027NCM1 SEN 1.~~50000~~49875% 7869,~~051~~835,~~531~~638.6180 ~~104~~90,~~068~~129.7120 34,~~908~~195,~~302~~795.8149 A-2 32027NCN9 SEN 1.~~50000~~49875% 6455,~~308~~373,~~223~~135.4366 8571,~~744~~464.3003 4,~~412~~539,~~022~~347.9383 M-1 32027NCP4 MEZ 1.~~92000~~91875% 21,522,000.00 3635,~~730~~559.8887 0.00 M-2 32027NCQ2 MEZ 2.~~97000~~96875% 9,783,000.00 25,~~827~~009.1249 0.00 M-3 32027NCR0 MEZ 4.~~22000~~21875% 5,380,000.00 2019,~~180~~544.9853 0.00 M-4 32027NCS8 MEZ 5.~~12000~~11875% 2,446,000.00 1110,~~132~~781.0251 0.00 R FFM3FFCR1 SEN 0.00000% 0.00 0.00 0.00 C FFM03FFCC SEN 0.00000% 489,131.32 ~~792~~651,~~818~~617.1459 0.00 X FFM03FFCX SEN 0.00000% 0.00 0.00 0.00 P FFM03FFCP SEN 0.00000% 100.00 ~~309~~302,~~069~~921.1141 0.00 Totals ~~181~~164,~~979~~829,~~986~~005.3678 1,~~581~~402,~~221~~677.2663 8,~~320~~735,~~325~~143.7432

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses S 0.00 0.00 195,650.00 0.00 A-1 0.00 7465,~~143~~639,~~228~~843.8030 4,~~012~~285,~~371~~924.5269 0.00 A-2 0.00 5950,~~896~~833,~~200~~787.5083 4,~~497~~610,~~767~~811.2386 0.00 M-1 0.00 21,522,000.00 3635,~~730~~559.8887 0.00 M-2 0.00 9,783,000.00 25,~~827~~009.1249 0.00 M-3 0.00 5,380,000.00 2019,~~180~~544.9853 0.00 M-4 0.00 2,446,000.00 1110,~~132~~781.0251 0.00 R 0.00 0.00 0.00 0.00 C 0.00 489,131.32 ~~792~~651,~~818~~617.1459 0.00 X 0.00 0.00 0.00 0.00 P 0.00 100.00 ~~309~~302,~~069~~921.1141 0.00 Totals 0.00 ~~173~~156,~~659~~093,~~660~~862.6245 910,~~901~~137,~~547~~820.0095 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) S 0.00 0.00 0.00 0.00 0.00 0.00 A-1 85,376,000.00 7869,~~051~~835,~~531~~638.6180 0.00 34,~~908~~195,~~302~~795.8149 0.00 0.00 A-2 70,656,000.00 6455,~~308~~373,~~223~~135.4366 0.00 4,~~412~~539,~~022~~347.9383 0.00 0.00 M-1 21,522,000.00 21,522,000.00 0.00 0.00 0.00 0.00 M-2 9,783,000.00 9,783,000.00 0.00 0.00 0.00 0.00 M-3 5,380,000.00 5,380,000.00 0.00 0.00 0.00 0.00 M-4 2,446,000.00 2,446,000.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 C 489,429.02 489,131.32 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 195,652,529.02 ~~181~~164,~~979~~829,~~986~~005.3678 0.00 8,~~320~~735,~~325~~143.7432 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 S 0.00 0.00 0.00000000 0.00 A-1 34,~~908~~195,~~302~~795.8149 7465,~~143~~639,~~228~~843.8030 0.~~86843175~~76883250 34,~~908~~195,~~302~~795.8149 A-2 4,~~412~~539,~~022~~347.9383 5950,~~896~~833,~~200~~787.5083 0.~~84771570~~71945465 4,~~412~~539,~~022~~347.9383 M-1 0.00 21,522,000.00 1.00000000 0.00 M-2 0.00 9,783,000.00 1.00000000 0.00 M-3 0.00 5,380,000.00 1.00000000 0.00 M-4 0.00 2,446,000.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 C 0.00 489,131.32 0.99939174 0.00 X 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 8,~~320~~735,~~325~~143.7432 ~~173~~156,~~659~~093,~~660~~862.6245 0.~~88759221~~79781163 8,~~320~~735,~~325~~143.7432

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion S 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-1 85,376,000.00 ~~914~~817.~~20928141~~97740349 0.00000000 4549.~~77753479~~14490595 0.00000000 A-2 70,656,000.00 ~~910~~783.~~15941222~~70040280 0.00000000 6264.~~44371221~~24575167 0.00000000 M-1 21,522,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 9,783,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 5,380,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 2,446,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 489,429.02 999.39174020 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 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 S 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 0.00000000 4549.~~77753479~~14490595 ~~868~~768.~~43174663~~83249742 0.~~86843175~~76883250 4549.~~77753479~~14490595 A-2 0.00000000 6264.~~44371221~~24575167 ~~847~~719.~~71570001~~45465113 0.~~84771570~~71945465 6264.~~44371221~~24575167 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 999.39174020 0.99939174 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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 S 0.00 6.00000% 39,130,000.00 195,650.00 0.00 0.00 A-1 85,376,000.00 1.~~50000~~49875% 7869,~~051~~835,~~531~~638.6180 ~~104~~90,~~068~~129.7120 0.00 0.00 A-2 70,656,000.00 1.~~50000~~49875% 6455,~~308~~373,~~223~~135.4366 8571,~~744~~464.3003 0.00 0.00 M-1 21,522,000.00 1.~~92000~~91875% 21,522,000.00 3635,~~730~~559.8887 0.00 0.00 M-2 9,783,000.00 2.~~97000~~96875% 9,783,000.00 25,~~827~~009.1249 0.00 0.00 M-3 5,380,000.00 4.~~22000~~21875% 5,380,000.00 2019,~~180~~544.9853 0.00 0.00 M-4 2,446,000.00 5.~~12000~~11875% 2,446,000.00 1110,~~132~~781.0251 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 C 489,429.02 0.00000% 489,131.32 0.00 0.00 0.00 X 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 195,652,529.02 ~~479~~448,~~334~~138.0163 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 S 0.00 0.00 195,650.00 0.00 39,130,000.00 A-1 0.00 0.00 ~~104~~90,~~068~~129.7120 0.00 7465,~~143~~639,~~228~~843.8030 A-2 0.00 0.00 8571,~~744~~464.3003 0.00 5950,~~896~~833,~~200~~787.5083 M-1 0.00 0.00 3635,~~730~~559.8887 0.00 21,522,000.00 M-2 0.00 0.00 25,~~827~~009.1249 0.00 9,783,000.00 M-3 0.00 0.00 2019,~~180~~544.9853 0.00 5,380,000.00 M-4 0.00 0.00 1110,~~132~~781.0251 0.00 2,446,000.00 R 0.00 0.00 0.00 0.00 0.00 C 0.00 0.00 ~~792~~651,~~818~~617.1459 0.00 489,131.32 X 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 ~~309~~302,~~069~~921.1141 0.00 100.00 Totals 0.00 0.00 1,~~581~~402,~~221~~677.2663 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 S 0.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 A-1 85,376,000.00 1.~~50000~~49875% ~~914~~817.~~20928141~~97740349 1.~~21894572~~05567373 0.00000000 0.00000000 A-2 70,656,000.00 1.~~50000~~49875% ~~910~~783.~~15941222~~70040280 1.~~21354591~~01143611 0.00000000 0.00000000 M-1 21,522,000.00 1.~~92000~~91875% 1000.00000000 1.~~70666667~~65225676 0.00000000 0.00000000 M-2 9,783,000.00 2.~~97000~~96875% 1000.00000000 2.~~64000000~~55642339 0.00000000 0.00000000 M-3 5,380,000.00 4.~~22000~~21875% 1000.00000000 3.~~75111152~~63281227 0.00000000 0.00000000 M-4 2,446,000.00 5.~~12000~~11875% 1000.00000000 4.~~55111202~~40781276 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 C 489,429.02 0.00000% 999.39174020 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance S 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000 A-1 0.00000000 0.00000000 1.~~21894572~~05567373 0.00000000 ~~868~~768.~~43174663~~83249742 A-2 0.00000000 0.00000000 1.~~21354591~~01143611 0.00000000 ~~847~~719.~~71570001~~45465113 M-1 0.00000000 0.00000000 1.~~70666667~~65225676 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~64000000~~55642339 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~75111152~~63281227 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 4.~~55111202~~40781276 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 ~~1619~~1331.~~88379847~~38323101 0.00000000 999.39174020 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~3090691~~3029214.10000000 0.00000000 1000.00000000 (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,~~019~~259,~~425~~686.1063 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) (70102,~~606~~201.4265) Prepayment Penalties ~~309~~302,~~069~~921.1141 Total Deposits 10,~~257~~460,~~887~~406.7939 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~356~~322,~~340~~585.7944 Payment of Interest and Principal 910,~~901~~137,~~547~~820.0095 Total Withdrawals (Pool Distribution Amount) 10,~~257~~460,~~887~~406.7939 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 7568,~~824~~678.9976 Pool Insurance Fee ~~277~~251,~~482~~159.7954 Trustee Fee 32,~~033~~747.0114 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~356~~322,~~340~~585.7944

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 1211 0 0 1211 ~~473~~416,~~932~~720.54 0.00 0.00 ~~473~~416,~~932~~720.54 30 Days 5261 34 0 0 5565 1,~~518~~817,~~221~~014.1326 16111,~~703~~122.2391 0.00 0.00 1,~~534~~928,~~924~~137.3617 60 Days 2135 43 01 0 2539 ~~842~~1,~~561~~038,734.6386 ~~101~~72,~~431~~125.4557 034,896.0007 0.00 ~~943~~1,~~993~~145,756.0850 90 Days 4575 7 5 0 5787 12,~~652~~449,~~782~~109.6946 ~~220~~200,~~090~~993.6207 ~~194~~221,~~240~~834.6567 0.00 2,~~067~~871,~~113~~937.9620 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 ~~118~~171 2625 56 0 ~~149~~202 45,~~013~~304,~~565~~858.4558 ~~812~~800,~~157~~962.8409 ~~194~~256,~~240~~730.6574 0.00 56,~~019~~362,~~963~~551.9441 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.~~271985~~272547% 0.000000% 0.000000% 0.~~271985~~272547% 0.~~272909~~266968% 0.000000% 0.000000% 0.~~272909~~266968% 30 Days 1.~~178604~~511397% 0.~~067996~~099108% 0.000000% 0.000000% 1.~~246600~~610505% 01.~~874251~~164052% 0.~~009618~~071190% 0.000000% 0.000000% 01.~~883869~~235242% 60 Days 0.~~475975~~867195% 0.~~090662~~074331% 0.~~000000~~024777% 0.000000% 0.~~566636~~966303% 0.~~485180~~665455% 0.~~058408~~046207% 0.~~000000~~022356% 0.000000% 0.~~543588~~734018% 90 Days 1.~~019946~~858276% 0.~~158658~~173439% 0.~~113327~~123885% 0.000000% 12.~~291931~~155600% 01.~~951737~~568998% 0.~~126737~~128764% 0.~~111851~~142116% 0.000000% 1.~~190325~~839878% 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 24.~~674524~~236868% 0.~~589302~~619425% 0.~~113327~~148662% 0.000000% 35.~~377153~~004955% 23.~~311167~~398506% 0.~~467672~~513128% 0.~~111851~~164472% 0.000000% 24.~~890691~~076106%

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 87 0 0 87 ~~252~~180,~~996~~860.2209 0.00 0.00 ~~252~~180,~~996~~860.2209 30 Days 3645 34 0 0 3949 ~~972~~1,~~868~~292,696.3961 16111,~~703~~122.2391 0.00 0.00 ~~989~~1,~~571~~403,819.6252 60 Days 1625 21 0 0 1826 ~~553~~698,~~012~~495.3785 5836,~~231~~915.7091 0.00 0.00 ~~611~~735,~~244~~411.0776 90 Days 3357 65 3 0 4265 ~~903~~1,~~651~~549,332.6925 ~~174~~128,~~116~~546.8113 121,400.60 0.00 1,~~199~~799,~~169~~278.1098 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 85127 1917 3 0 ~~107~~147 23,~~429~~540,~~532~~524.4571 ~~502~~457,~~047~~445.9604 121,400.60 0.00 34,~~052~~119,~~981~~370.0135 0-29 Days 0.~~266667~~253073% 0.000000% 0.000000% 0.~~266667~~253073% 0.~~263946~~207142% 0.000000% 0.000000% 0.~~263946~~207142% 30 Days 1.~~200000~~626898% 0.~~100000~~144613% 0.000000% 0.000000% 1.~~300000~~771511% 1.~~014973~~480550% 0.~~017426~~127271% 0.000000% 0.000000% 1.~~032399~~607821% 60 Days 0.~~533333~~903832% 0.~~066667~~036153% 0.000000% 0.000000% 0.~~600000~~939986% 0.~~576946~~800001% 0.~~060752~~042280% 0.000000% 0.000000% 0.~~637698~~842281% 90 Days 12.~~100000~~060738% 0.~~200000~~180766% 0.~~100000~~108460% 0.000000% 12.~~400000~~349964% 01.~~942761~~774480% 0.~~181652~~147226% 0.~~126655~~139042% 0.000000% 12.~~251068~~060748% 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 24.~~833333~~591468% 0.~~633333~~614606% 0.~~100000~~108460% 0.000000% 35.~~566667~~314534% 24.~~534680~~055030% 0.~~523776~~523920% 0.~~126655~~139042% 0.000000% 34.~~185111~~717993% 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 4 0 0 4 ~~220~~235,~~936~~860.3245 0.00 0.00 ~~220~~235,~~936~~860.3245 30 Days 16 0 0 0 16 ~~545~~524,~~352~~317.7465 0.00 0.00 0.00 ~~545~~524,~~352~~317.7465 60 Days 510 2 01 0 713 ~~289~~340,~~549~~239.2601 4335,~~199~~209.7566 034,896.0007 0.00 ~~332~~410,~~749~~344.0174 90 Days 1218 12 2 0 1522 ~~749~~899,~~131~~777.0021 4572,~~973~~446.8194 72100,~~840~~434.0507 0.00 ~~867~~1,~~944~~072,658.8622 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 3344 78 23 0 4255 1,~~584~~764,~~033~~333.0087 ~~310~~343,~~109~~517.8805 72135,~~840~~330.0514 0.00 12,~~966~~243,~~982~~181.9306 0-29 Days 0.~~283286~~314961% 0.000000% 0.000000% 0.~~283286~~314961% 0.~~283951~~342910% 0.000000% 0.000000% 0.~~283951~~342910% 30 Days 1.~~133144~~259843% 0.000000% 0.000000% 0.000000% 1.~~133144~~259843% 0.~~700895~~762290% 0.000000% 0.000000% 0.000000% 0.~~700895~~762290% 60 Days 0.~~354108~~787402% 0.~~141643~~157480% 0.~~000000~~078740% 0.000000% 01.~~495751~~023622% 0.~~372133~~494663% 0.~~055521~~051190% 0.~~000000~~050734% 0.000000% 0.~~427654~~596588% 90 Days 01.~~849858~~417323% 0.~~070822~~157480% 0.~~141643~~157480% 0.000000% 1.~~062323~~732283% 01.~~962794~~308159% 0.~~059086~~105328% 0.~~093615~~146018% 0.000000% 1.~~115495~~559506% 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 23.~~337110~~464567% 0.~~495751~~629921% 0.~~141643~~236220% 0.000000% 24.~~974504~~330709% 2.~~035822~~565112% 0.~~398558~~499429% 0.~~093615~~196752% 0.000000% 23.~~527995~~261294%

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 11.~~327495~~331178% Weighted Average Net Coupon 10.~~827495~~831178% Weighted Average Pass-Through Rate 8.~~977734~~982668% Weighted Average Maturity(Stepdown Calculation ) ~~203~~201 Beginning Scheduled Collateral Loan Count 4,~~592~~213 Number Of Loans Paid In Full ~~180~~177 Ending Scheduled Collateral Loan Count 4,~~412~~036 Beginning Scheduled Collateral Balance ~~181~~164,~~979~~829,~~986~~005.3678 Ending Scheduled Collateral Balance ~~173~~156,~~659~~093,~~660~~862.6246 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~173~~156,~~659~~093,~~660~~862.6246 Monthly P &I Constant 1,~~802~~634,~~363~~534.7033 Special Servicing Fee 0.00 Prepayment Penalties ~~309~~302,~~069~~921.1141 Realized Loss Amount 70102,~~606~~201.4265 Cumulative Realized Loss ~~127~~229,~~382~~583.1883 Ending Scheduled Balance for Premium Loans ~~173~~156,~~659~~093,~~660~~862.6246 Scheduled Principal 8478,~~549~~111.2697 Unscheduled Principal 8,~~235~~657,~~776~~031.4835

Miscellaneous Reporting Credit Enhancement Percentage 20.25025% Step Down NO Trigger Event NO Overcollateralization Target Amount 489,131.32 Overcollateralization Increase Amount 102,201.65 Overcollateralization Reduction Amount 0.00 Specified Overcollateralization Amount 489,131.32 Overcollateralization Deficiency Amount 102,201.65 Overcollateralization Amount 489,131.32 Extra Principal Distribution 700.00 Excess Cash 753,~~606~~819.4224 Undrawn Pool Insurance 24,751,351.80 Class A-1 PT rate next distribution date 1.5052125% Class A-2 PT rate next distribution date 1.5052125% Class M-1 PT rate next distribution date 1.9294125% Class M-2 PT rate next distribution date 2.9799125% Class M-3 PT rate next distribution date 4.2224125% Class M-4 PT rate next distribution date 5.1214125% ~~Overcollateralization~~Soldier/Sailor ~~Amount~~Interest ~~489,131.32~~Shortfall ~~Overcollateralization Deficiency Amount 70,606~~509.42 Overcollateralization Increase Amount 70,606.42 Overcollateralization Reduction Amount 0.00 Overcollateralization Target Amount 489,131.32 Specified Overcollateralization Amount 489,131.32 Step Down NO Trigger Event NO Undrawn Pool Insurance 27,345,500.13 Excess Cash 863,424.5622

Group Level Collateral Statement Group 1 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 11.~~550987~~549010 11.~~056525~~059074 11.~~327495~~331178 Weighted Average Net Rate 11.~~050987~~049010 10.~~556525~~559074 10.~~827495~~831178 Weighted Average Maturity ~~199~~197 ~~208~~206 ~~203~~201 Beginning Loan Count 32,~~108~~875 1,~~484~~338 4,~~592~~213 Loans Paid In Full ~~108~~109 7268 ~~180~~177 Ending Loan Count 32,~~000~~766 1,~~412~~270 4,~~412~~036 Beginning Scheduled Balance 9991,~~726~~544,~~766~~039.2839 8273,~~253~~284,~~220~~966.0839 ~~181~~164,~~979~~829,~~986~~005.3678 Ending scheduled Balance 9587,~~851~~311,~~629~~922.3983 7768,~~808~~781,~~031~~939.2363 ~~173~~156,~~659~~093,~~660~~862.6246 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant 1921,~~003,638~~947.4206 ~~798~~712,~~725~~587.2827 1,~~802~~634,~~363~~534.7033 Scheduled Principal 4340,~~686~~911.2824 4037,~~862~~200.9873 8478,~~549~~111.2697 Unscheduled Principal 34,~~831~~191,~~450~~205.6132 4,~~404~~465,~~325~~826.8703 8,~~235~~657,~~776~~031.4835 Scheduled Interest ~~959~~881,~~952~~035.1482 ~~757~~675,~~862~~386.3054 1,~~717~~556,~~814~~422.4436 Servicing Fees 4138,~~552~~143.8135 3430,~~272~~535.1841 7568,~~824~~678.9976 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~662~~525.1275 1,~~370~~221.8939 32,~~033~~747.0114 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 ~~151~~139,~~849~~356.6859 ~~125~~111,~~633~~802.1195 ~~277~~251,~~482~~159.7954 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 ~~764~~702,~~887~~010.5313 ~~596~~531,~~586~~826.1279 1,~~361~~233,~~473~~836.6592 Realized Loss Amount 085,412.0010 7016,~~606~~789.4255 70102,~~606~~201.4265 Cumulative Realized Loss 34119,~~430~~842.6878 92109,~~951~~741.5005 ~~127~~229,~~382~~583.1883 Percentage of Cumulative Losses 0.001119 0.001239 0.001173 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 9.202261 8.708364 8.982668

Filing Compare · FIRST FRANKLIN MORTGAGE LOAN TRUST 2003-FFC