8-K 1 mdc03hq2.txt JANUARY 8-K 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 : January 12, 2004 (Date of earliest event reported) Commission File No.: 333-83986-17 Morgan Stanley Dean Witter Capital I Inc. Commercial Mortgage Pass-Through Certificates, Series 2003-HQ2 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) Pending (I.R.S. Employer Identification No.) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, Maryland 21045 (Address of principal executive offices) (Zip Code) (410) 884-2000 Registrant's Full Telephone Number (Former name, former address and former fiscal year, if changed since last report) ITEM 5. Other Events On January 12, 2004 a distribution was made to holders of Morgan Stanley Dean Witter Capital I Inc. Commercial Mortgage Pass-Through Certificates, Series 2003-HQ2. ITEM 7. Financial Statements and Exhibits (c) Exhibits Item 601(a) of Regulation S-K Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2003-HQ2 relating to the January 12, 2004 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. Morgan Stanley Dean Witter Capital I Inc. Commercial Mortgage Pass-Through Certificates Series 2003-HQ2 By: Wells Fargo Bank Minnesota, N.A., as Paying Agent By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: January 21, 2004 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates Series 2003-HQ2, relating to the January 12, 2004 distribution. Wells Fargo Bank Minnesota, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045 Morgan Stanley Dean Witter Capital I Inc. Commercial Mortgage Pass-Through Certificates Series 2003-HQ2 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: 01/12/2004 Record Date: 12/31/2003 DISTRIBUTION DATE STATEMENT Table of Contents STATEMENT SECTIONS PAGE(s) Certificate Distribution Detail 2 Certificate Factor Detail 3 Reconciliation Detail 4 Other Required Information 5 Cash Reconciliation 6 Ratings Detail 7 Current Mortgage Loan and Property Stratification Tables 8 - 10 Mortgage Loan Detail 11 - 12 Principal Prepayment Detail 13 Historical Detail 14 Delinquency Loan Detail 15 Specially Serviced Loan Detail 16 - 17 Modified Loan Detail 18 Liquidated Loan Detail 19 Depositor Morgan Stanley Dean Witter Capital I Inc. 1585 Broadway New York, NY 10036 Contact: General Information Number Phone Number : (212) 761-4700 Master Servicer Wells Fargo Bank, National Association 45 Fremont Street, 2nd Floor investorreporting@wellsfargo.com San Francisco, CA 94105 Contact: Matilde Sanchez Phone Number: (415)222-2364 Special Servicer Wells Fargo Bank, National Association 45 Fremont Street, 2nd Floor investorreporting@wellsfargo.com San Francisco, CA 94105 Contact: Matilde Sanchez Phone Number: (415)222-2364 This report has been compiled from information provided to Wells Fargo Bank MN, N.A. by various third parties, which may include the Master Servicer, Special Servicer and others. Wells Fargo Bank MN, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank MN, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties. Copyright 2003, Wells Fargo Bank Minnesota, N.A.

Certificate Distribution Detail Class CUSIP Pass-Through Original Beginning Principal Rate Balance Balance Distribution A-1 61746WD31 4.180000% 248,633,000.00 ~~244~~242,~~233~~927,~~743~~344.1075 ~~611~~618,~~241~~354.4287 A-2 61746WD49 4.920000% 522,232,000.00 522,232,000.00 0.00 B 61746WD56 5.040000% 39,591,000.00 39,591,000.00 0.00 C 61746WD64 5.150000% 41,920,000.00 41,920,000.00 0.00 D 61746WD72 5.240000% 9,316,000.00 9,316,000.00 0.00 E 61746WE22 5.680000% 9,315,000.00 9,315,000.00 0.00 F 61746WE30 6.~~008272~~008406% 10,480,000.00 10,480,000.00 0.00 G 61746WE48 6.~~498272~~498406% 8,151,000.00 8,151,000.00 0.00 H 61746WE55 6.030000% 13,974,000.00 13,974,000.00 0.00 J 61746WE63 6.030000% 5,822,000.00 5,822,000.00 0.00 K 61746WE71 6.030000% 2,329,000.00 2,329,000.00 0.00 L 61746WE89 6.030000% 2,329,000.00 2,329,000.00 0.00 M 61746WE97 6.030000% 4,658,000.00 4,658,000.00 0.00 N 61746WF21 6.030000% 2,329,000.00 2,329,000.00 0.00 O 61746WF39 6.030000% 10,480,154.96 10,480,154.96 0.00 R-I N/A 0.000000% 0.00 0.00 0.00 R-II N/A 0.000000% 0.00 0.00 0.00 R-III N/A 0.000000% 0.00 0.00 0.00 Totals 931,559,154.96 ~~927~~925,~~159~~853,~~898~~499.0671 ~~611~~618,~~241~~354.4287

Class CUSIP Interest Prepayment Realized Loss/ Total Current Distribution Penalties Additional Trust Distribution Ending Balance Subordination Fund Expenses Level(1) A-1 61746WD31 ~~850~~846,~~747~~196.5492 0.00 0.00 1,~~461~~464,~~988~~551.9679 ~~243~~242,~~622~~308,~~501~~989.6888 17.3437% A-2 61746WD49 2,141,151.20 0.00 0.00 2,141,151.20 522,232,000.00 17.3437% B 61746WD56 166,282.20 0.00 0.00 166,282.20 39,591,000.00 13.0709% C 61746WD64 179,906.67 0.00 0.00 179,906.67 41,920,000.00 8.5556% D 61746WD72 40,679.87 0.00 0.00 40,679.87 9,316,000.00 7.5455% E 61746WE22 44,091.00 0.00 0.00 44,091.00 9,315,000.00 6.54% F 61746WE30 52,~~472~~473.2442 0.00 0.00 52,~~472~~473.2442 10,480,000.00 5.4041% G 61746WE48 44,~~139~~140.5143 0.00 0.00 44,~~139~~140.5143 8,151,000.00 4.5253% H 61746WE55 70,219.35 0.00 0.00 70,219.35 13,974,000.00 3.02% J 61746WE63 29,255.55 0.00 0.00 29,255.55 5,822,000.00 2.39% K 61746WE71 11,703.23 0.00 0.00 11,703.23 2,329,000.00 2.14% L 61746WE89 11,703.23 0.00 0.00 11,703.23 2,329,000.00 1.89% M 61746WE97 23,406.45 0.00 0.00 23,406.45 4,658,000.00 1.38% N 61746WF21 11,703.23 0.00 0.00 11,703.23 2,329,000.00 1.13% O 61746WF39 52,662.78 0.00 0.00 52,662.78 10,480,154.96 0.00% R-I N/A 0.00 0.00 0.00 0.00 0.00 0.00% R-II N/A 0.00 0.00 0.00 0.00 0.00 0.00% R-III N/A 0.00 0.00 0.00 0.00 0.00 0.00% Totals 3,~~730~~725,~~124~~575.0553 0.00 0.00 4,~~341~~343,~~365~~930.4740 ~~926~~925,~~548~~235,~~656~~144.6484

Original Beginning Pass-Through Notional Notional Class CUSIP Rate Amount Amount X-1 61746WD80 0.~~047864~~044531% 931,559,154.96 ~~927~~925,~~159~~853,~~898~~499.0671 X-2 61746WD98 1.~~754944~~755081% 904,790,000.00 904,790,000.00

Ending Interest Prepayment Total Notional Class CUSIP Distribution Penalties Distribution Amount X-1 61746WD80 3634,~~980~~357.9451 0.00 3634,~~980~~357.9451 ~~926~~925,~~548~~235,~~656~~144.6484 X-2 61746WD98 1,323,~~212~~316.8633 0.00 1,323,~~212~~316.8633 904,790,000.00 (1) Calculated by taking (A) the sum of the ending certificate balance of all classes less (B) the sum of (i) the ending certificate balance of the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class and dividing the result by (A).

Certificate Factor Detail Prepayment Realized Loss/ Ending Beginning Principal Interest Penalties Additional Trust Balance Class CUSIP Balance Distribution Distribution Fund Expenses A-1 61746WD31 ~~982~~977.~~30622283~~05189878 2.~~45840826~~48701850 3.~~42170002~~40339746 0.00000000 0.00000000 ~~979~~974.~~84781457~~56488029 A-2 61746WD49 1,000.00000000 0.00000000 4.10000000 0.00000000 0.00000000 1,000.00000000 B 61746WD56 1,000.00000000 0.00000000 4.20000000 0.00000000 0.00000000 1,000.00000000 C 61746WD64 1,000.00000000 0.00000000 4.29166675 0.00000000 0.00000000 1,000.00000000 D 61746WD72 1,000.00000000 0.00000000 4.36666702 0.00000000 0.00000000 1,000.00000000 E 61746WE22 1,000.00000000 0.00000000 4.73333333 0.00000000 0.00000000 1,000.00000000 F 61746WE30 1,000.00000000 0.00000000 5.~~00689313~~00700573 0.00000000 0.00000000 1,000.00000000 G 61746WE48 1,000.00000000 0.00000000 5.~~41522635~~41533922 0.00000000 0.00000000 1,000.00000000 H 61746WE55 1,000.00000000 0.00000000 5.02500000 0.00000000 0.00000000 1,000.00000000 J 61746WE63 1,000.00000000 0.00000000 5.02500000 0.00000000 0.00000000 1,000.00000000 K 61746WE71 1,000.00000000 0.00000000 5.02500215 0.00000000 0.00000000 1,000.00000000 L 61746WE89 1,000.00000000 0.00000000 5.02500215 0.00000000 0.00000000 1,000.00000000 M 61746WE97 1,000.00000000 0.00000000 5.02500000 0.00000000 0.00000000 1,000.00000000 N 61746WF21 1,000.00000000 0.00000000 5.02500215 0.00000000 0.00000000 1,000.00000000 O 61746WF39 1,000.00000000 0.00000000 5.02500013 0.00000000 0.00000000 1,000.00000000 R-I N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000

Beginnning Ending Notional Interest Prepayment Notional Class CUSIP Amount Distribution Penalties Amount X-1 61746WD80 ~~995~~993.~~27753350~~87515520 0.~~03969790~~03688173 0.00000000 ~~994~~993.~~62138470~~21137033 X-2 61746WD98 1,000.00000000 1.~~46245301~~46256737 0.00000000 1,000.00000000

Reconciliation Detail Advance Summary P & I Advances Outstanding 2,~~364~~298,~~826~~342.2904 Servicing Advances Outstanding 8,~~153~~409.4608 Reimbursement for Interest on Advances 0.00 paid from general collections Current Period Accrued Servicing Fees 28,~~400~~358.1900 Less Delinquent Servicing Fees 1311,~~631~~048.0959 Less Reductions to Servicing Fees 0.00 Plus Servicing Fees for Delinquent Payments Received 43,~~890~~928.7958 Plus Adjustments for Prior Servicing Calculation 0.00 Total Servicing Fees Collected 1921,~~659~~237.8999

Certificate Interest Reconciliation Class Accrued Net Aggregate Previously Distributable Distributable Certificate Prepayment Realized Unpaid Interest Certificate Certificate Remaining Interest Interest Losses/ (including Interest Interest Interest Unpaid Shortfall Expense Losses interest thereon) Adjustment Distribution Interest A-1 ~~850~~846,~~747~~196.5492 0.00 0.00 0.00 ~~850~~846,~~747~~196.5492 0.00 ~~850~~846,~~747~~196.5492 0.00 A-2 2,141,151.20 0.00 0.00 0.00 2,141,151.20 0.00 2,141,151.20 0.00 X-1 3634,~~980~~357.9451 0.00 0.00 0.00 3634,~~980~~357.9451 0.00 3634,~~980~~357.9451 0.00 X-2 1,323,~~212~~316.8633 0.00 0.00 0.00 1,323,~~212~~316.8633 0.00 1,323,~~212~~316.8633 0.00 B 166,282.20 0.00 0.00 0.00 166,282.20 0.00 166,282.20 0.00 C 179,906.67 0.00 0.00 0.00 179,906.67 0.00 179,906.67 0.00 D 40,679.87 0.00 0.00 0.00 40,679.87 0.00 40,679.87 0.00 E 44,091.00 0.00 0.00 0.00 44,091.00 0.00 44,091.00 0.00 F 52,~~472~~473.2442 0.00 0.00 0.00 52,~~472~~473.2442 0.00 52,~~472~~473.2442 0.00 G 44,~~139~~140.5143 0.00 0.00 0.00 44,~~139~~140.5143 0.00 44,~~139~~140.5143 0.00 H 70,219.35 0.00 0.00 0.00 70,219.35 0.00 70,219.35 0.00 J 29,255.55 0.00 0.00 0.00 29,255.55 0.00 29,255.55 0.00 K 11,703.23 0.00 0.00 0.00 11,703.23 0.00 11,703.23 0.00 L 11,703.23 0.00 0.00 0.00 11,703.23 0.00 11,703.23 0.00 M 23,406.45 0.00 0.00 0.00 23,406.45 0.00 23,406.45 0.00 N 11,703.23 0.00 0.00 0.00 11,703.23 0.00 11,703.23 0.00 O 52,662.78 0.00 0.00 0.00 52,662.78 0.00 52,662.78 0.00 Total 5,~~090~~083,~~317~~249.8537 0.00 0.00 0.00 5,~~090~~083,~~317~~249.8537 0.00 5,~~090~~083,~~317~~249.8537 0.00

Other Required Information Available Distribution Amount (1) 5,701,~~559~~604.2724 Principal Distribution Amount ~~611~~618,~~241~~354.4287 (a) Principal portion of Scheduled Payments ~~611~~618,~~241~~354.4287 and any Assumed Scheduled Payments (b) Principal Prepayments 0.00 (c) Principal Portion of Balloon Payments 0.00 (d) Liquidation, Condemnation, Purchase, 0.00 and Insurance Proceeds and REO Income Received on a Mortgage Loan Aggregate Number of Outstanding Mortgage Loans 55 Aggregate Unpaid Principal Balance of the Mortgage Loans ~~926~~925,~~649~~342,~~742~~682.0071 Aggregate Scheduled Principal Balance of the Mortgage Loans ~~926~~925,~~548~~235,~~656~~144.6484 Interest Reserve Account Deposits 0.00 Withdrawals 0.00 Total Servicing and Special Servicing Fee Paid 1921,~~659~~237.8999 Servicing Fee paid 1921,~~659~~237.8999 Special Servicing Fee paid 0.00 Trustee Fee Paid ~~667~~666.1724 Paying Agent Fee Paid 1,~~318~~316.4561 Expense Losses (Additional Trust Fund Expenses) 0.00 (i) Special Servicing and Liquidation Fees 0.00 (ii) Advance Interest 0.00 (iii) Indemnification Expenses 0.00 (iv) Taxes Imposed on the Trust 0.00 (v) Amount of any Advance not Recovered 0.00 upon a Final Recovery Determination ~~(1) The Available Distribution Amount includes any Prepayment Premiums.~~

Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 5,~~120~~113,~~703~~590.6419 Interest reductions due to Nonrecoverability Determinations 0.00 Interest Adjustments 0.00 Deferred Interest 0.00 Net Prepayment Interest Shortfall 0.00 Net Prepayment Interest Excess 0.00 Extension Interest 0.00 Interest Reserve Withdrawal 0.00 Total Interest Collected 5,~~120~~113,~~703~~590.6419 Principal: Scheduled Principal ~~611~~618,~~241~~354.4287 Unscheduled Principal 0.00 Principal Prepayments 0.00 Collection of Principal after Maturity Date 0.00 Recoveries from Liquidation and Insurance Proceeds 0.00 Excess of Prior Principal Amounts paid 0.00 Curtailments 0.00 Negative Amortization 0.00 Principal Adjustments 0.00 Total Principal Collected ~~611~~618,~~241~~354.4287 Other: Prepayment Penalties/Yield Maintenance 0.00 Repayment Fees 0.00 Borrower Option Extension Fees 0.00 Equity Payments Received 0.00 Net Swap Counterparty Payments Received 0.00 Total Other Collected: 0.00 Total Funds Collected 5,731,945.06 Total Funds Distributed Fees: Master Servicing Fee 28,~~400~~358.1900 Trustee Fee ~~667~~666.1724 Certificate Administration Fee 1,~~318~~316.4561 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 30,~~385~~340.8284 Additional Trust Fund Expenses: Reimbursement for Interest on Advances 0.00 ASER Amount 0.00 Special Servicing Fee 0.00 Rating Agency Expenses 0.00 Attorney Fees & Expenses 0.00 Bankruptcy Expense 0.00 Taxes Imposed on Trust Fund 0.00 Non-Recoverable Advances 0.00 Other Expenses 0.00 Total Additional Trust Fund Expenses 0.00 Interest Reserve Deposit 0.00 Payments to Certificateholders & Others: Interest Distribution 5,~~090~~083,~~317~~249.8537 Principal Distribution ~~611~~618,~~241~~354.4287 Prepayment Penalties/Yield Maintenance 0.00 Borrower Option Extension Fees 0.00 Equity Payments Paid 0.00 Net Swap Counterparty Payments Paid 0.00 Total Payments to Certificateholders & Others 5,701,~~559~~604.2724 Total Funds Distributed 5,731,945.0908

NR - Designates that the class was not rated by the above agency at the time of original issuance. X - Designates that the above rating agency did not rate any classes in this transaction at the time of original issuance. N/A - Data not available this period. 1) For any class not rated at the time of original issuance by any particular rating agency, no request has been made subsequent to issuance to obtain rating information, if any, from such rating agency. The current ratings were obtained directly from the applicable rating agency within 30 days of the payment date listed above. The ratings may have changed since they were obtained. Because the ratings may have changed, you may want to obtain current ratings directly from the rating agencies. Fitch, Inc. One State Street Plaza New York, New York 10004 (212) 908-0500 Moody's Investors Service 99 Church Street New York, New York 10007 (212) 553-0300 Standard & Poor's Rating Services 55 Water Street New York, New York 10041 (212) 438-2430

Current Mortgage Loan and Property Stratification Tables Scheduled Balance % Of Scheduled # of Scheduled Agg. WAM Weighted Balance Loans Balance Bal. (2) WAC Avg DSCR(1) Below 2,500,000 3 6,~~334~~321,~~416~~676.8982 0.68 ~~109~~107 6.~~1530~~1531 1.~~580566~~607925 2,500,001 to 3,000,000 4 11,~~402~~380,~~760~~741.3672 1.23 ~~111~~109 6.0114 1.~~477881~~350022 3,000,001 to 4,000,000 6 20,~~650~~606,~~041~~818.7340 2.23 ~~111~~109 6.0067 1.~~422615~~372005 4,000,001 to 5,000,000 2 9,~~178~~161,~~576~~723.2460 0.99 ~~107~~105 6.3440 1.~~535166~~568329 5,000,001 to 7,500,000 13 82,~~611~~448,~~777~~664.8170 8.9291 ~~112~~110 6.0771 1.~~465792~~542695 7,500,001 to 10,000,000 6 53,~~164~~057,~~597~~614.6557 5.7473 9896 6.~~4137~~4139 1.~~426933~~426947 10,000,001 to 15,000,000 2 23,~~796~~749,~~817~~678.2854 2.57 ~~109~~107 5.9412 1.~~379096~~536110 15,000,001 to 20,000,000 7 122,~~184~~012,~~582~~719.1871 13.19 9795 6.~~1538~~1539 1.~~671305~~674595 20,000,001 to 30,000,000 5 122,~~243~~057,~~535~~510.5767 13.19 ~~108~~106 6.~~3556~~3558 1.~~712475~~612257 30,000,001 to 40,000,000 1 35,000,000.00 3.78 ~~110~~108 6.8527 1.930000 40,000,001 to 50,000,000 3 ~~134~~133,~~194~~858,~~275~~933.0438 14.4847 7876 7.~~4029~~4020 1.~~353112~~337575 50,000,001 to 75,000,000 0 0.00 0.00 0 0.0000 0.000000 75,000,001 to 100,000,000 2 175,~~787~~579,~~275~~062.8973 18.9798 ~~109~~107 5.~~9522~~9532 1.~~784190~~784065 100,000,001 and greater 1 130,000,000.00 14.0305 ~~110~~108 6.8527 1.930000 Totals 55 ~~926~~925,~~548~~235,~~656~~144.6484 100.00 ~~103~~101 6.~~4470~~4471 1.~~648395~~642184

State(3) # of Scheduled % of Weighted State Props. Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) Arizona 5 40,~~166~~087,~~219~~814.8316 4.3433 ~~111~~109 5.9364 1.~~496327~~456685 California 8 58,~~632~~511,~~452~~890.1989 6.3332 ~~111~~109 5.8539 1.~~503435~~582706 Colorado 4 10,~~929~~912,~~914~~171.8361 1.18 ~~103~~101 7.~~1648~~1649 1.~~329418~~345253 Florida 5 35,~~700~~640,~~070~~031.7352 3.85 ~~106~~104 6.~~7633~~7635 1.~~397516~~417980 Georgia 1 ~~594~~593,~~389~~253.7562 0.06 ~~110~~108 6.0800 1.650000 Idaho 1 2,~~527~~524,~~957~~172.8156 0.27 ~~102~~100 7.3500 1.350000 Illinois 3 99,~~499~~259,~~411~~229.8559 10.7473 ~~107~~105 5.~~2905~~2906 1.~~818889~~850025 Indiana 1 57,~~145~~002,~~866~~073.8912 6.1716 1412 6.8100 1.270000 Kansas 2 2,~~514~~511,~~841~~075.4180 0.27 ~~102~~100 7.3500 1.350000 Maryland 1 9,~~123~~109,~~496~~233.4350 0.98 4139 7.9500 1.310000 Massachusetts 9 31,~~870~~824,~~378~~347.0918 3.44 ~~108~~106 7.~~4825~~4826 1.~~416536~~148773 Missouri 1 3,~~265~~259,~~735~~349.6308 0.35 ~~109~~107 6.0000 1.~~360000~~370000 New Jersey 4 12,~~925~~901,~~920~~241.2729 1.4039 ~~110~~108 6.0985 1.~~493536~~353633 New York 5 ~~268~~267,~~083~~997,~~056~~572.1269 28.9397 ~~109~~107 6.~~5849~~5851 1.~~899213~~677955 North Carolina 2 11,~~887~~865,~~795~~072.0432 1.28 ~~110~~108 6.0800 1.650000 Oklahoma 1 5,~~249~~241,~~518~~657.0868 0.57 ~~102~~100 7.3500 1.350000 Oregon 4 18,~~476~~440,~~740~~034.7030 1.99 ~~111~~109 5.~~8703~~8704 1.~~785792~~785782 Pennsylvania 7 28,~~482~~422,~~111~~404.8550 3.07 ~~110~~108 6.0923 1.~~715743~~691940 Texas 10 146,~~220~~108,~~475~~782.0199 15.7879 ~~110~~108 6.~~4644~~4648 1.~~618019~~752826 Utah 1 17,~~229~~197,~~303~~469.8429 1.86 ~~109~~107 6.2600 1.~~390000~~440000 Washington 2 18,~~228~~194,~~271~~635.1257 1.97 ~~110~~108 6.~~2552~~2553 1.~~421049~~421052 Washington,DC 2 45,~~703~~624,~~125~~750.6748 4.93 ~~112~~110 6.5000 1.350000 Wyoming 2 2,~~402~~398,~~187~~590.5360 0.26 ~~102~~100 7.3500 1.350000 Totals 81 ~~926~~925,~~548~~235,~~656~~144.6484 100.00 ~~103~~101 6.~~4470~~4471 1.~~648395~~642184

Debt Service Coverage Ratio(1) Debt Service # of Scheduled % of Weighted Coverage Ratio Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) 1.20 or less 07 068,609,832.0005 07.0042 0104 06.~~0000~~7322 01.~~000000~~080828 1.21 to 1.30 43 3831,~~631~~548,~~203~~229.5813 43.1741 7363 6.~~2665~~3506 1.~~282357~~268685 1.31 to 1.40 1614 ~~259~~234,~~258~~318,~~524~~262.0047 2725.9833 9087 6.~~9967~~8746 1.~~362592~~350439 1.41 to 1.50 136 ~~101~~54,~~197~~280,~~915~~777.9670 105.9287 ~~111~~108 56.~~9677~~0732 1.~~445735~~450398 1.51 to 1.60 86 3830,~~408~~759,~~738~~814.5435 43.1532 ~~110~~108 6.~~2634~~3411 1.~~544210~~559195 1.61 to 1.70 56 ~~145~~126,~~406~~447,~~597~~750.4870 1513.6967 ~~111~~108 6.~~4133~~5152 1.~~672328~~677924 1.71 to 1.80 23 920,~~805~~836,~~040~~292.8108 12.0625 ~~110~~107 6.~~0651~~0306 1.~~797783~~772442 1.81 to 1.90 12 8288,~~787~~392,~~275~~948.8916 89.9455 ~~107~~105 5.~~1200~~1831 1.~~890000~~884738 1.91 to 2.00 23 ~~165~~170,~~000~~052,~~000~~840.0024 1718.8138 ~~110~~109 6.~~8527~~8262 1.~~930000~~931783 2.01 and greater 45 8699,~~053~~988,~~360~~397.3896 910.2981 ~~108~~107 65.~~1167~~9888 2.~~128753~~179264 Totals 55 ~~926~~925,~~548~~235,~~656~~144.6484 100.00 ~~103~~101 6.~~4470~~4471 1.~~648395~~642184

Property Type (3) Property # of Scheduled % of Weighted Type Props Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) Industrial 14 89,~~756~~584,~~535~~249.4896 9.6968 ~~110~~108 6.~~0742~~0743 1.~~752843~~959942 Mixed Use 3 51,~~162~~074,~~919~~007.8616 5.52 ~~112~~110 6.~~4434~~4435 1.~~358537~~375606 Mobile Home Park 13 46,~~723~~653,~~849~~886.0687 5.04 ~~102~~100 7.3500 1.350000 Multi-Family 3 15,~~351~~312,~~510~~422.9541 1.6665 ~~110~~108 5.9350 1.~~318470~~320615 Office 16 290,~~962~~832,~~605~~945.6757 31.4043 ~~107~~105 6.~~6034~~6036 1.~~876611~~669988 Retail 30 ~~430~~429,~~076~~352,~~816~~161.3719 46.4240 9694 6.~~1822~~1825 1.~~542576~~537214 Self Storage 2 2,~~825~~817,~~003~~181.2816 0.30 ~~112~~110 6.2100 1.~~540000~~640000 Totals 81 ~~926~~925,~~548~~235,~~656~~144.6484 100.00 ~~103~~101 6.~~4470~~4471 1.~~648395~~642184

Note Rate Note # of Scheduled % of Weighted Rate Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) less than 5.500% 2 99,~~665~~421,~~689~~634.6490 10.7675 ~~108~~106 5.1844 1.~~815486~~815462 5.501% to 6.000% 25 200,~~468~~061,~~925~~553.1469 21.6462 ~~111~~109 5.8806 1.~~552697~~669989 6.001% to 6.500% 17 215,~~354~~058,~~283~~600.6878 23.24 ~~109~~107 6.2627 1.~~624699~~547022 6.501% to 7.000% 6 279,~~983~~933,~~411~~749.0781 30.2226 ~~105~~103 6.7948 1.~~807069~~806812 7.001% to 7.500% 2 53,~~377~~298,~~804~~569.8619 5.76 ~~103~~101 7.3625 1.~~377425~~377427 7.501% to 8.000% 2 35,~~931~~880,~~241~~740.9444 3.88 8785 7.8157 1.~~362226~~071240 8.001% or greater 1 41,~~767~~580,~~300~~296.3103 4.5149 1412 8.4500 1.~~360000~~310000 Totals 55 ~~926~~925,~~548~~235,~~656~~144.6484 100.00 ~~103~~101 6.~~4470~~4471 1.~~648395~~642184

Seasoning # of Scheduled % of Weighted Seasoning Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) 12 months or less 4332 ~~556~~402,~~392~~540,~~854~~334.2628 6043.0551 ~~110~~109 6.~~0193~~1882 1.~~585614~~615186 13 to 24 months 1021 ~~313~~466,~~320~~084,~~519~~446.5292 3350.8237 ~~105~~104 6.~~9220~~4803 1.~~816524~~707139 25 to 36 months 0 0.00 0.00 0 0.0000 0.000000 37 to 48 months 0 0.00 0.00 0 0.0000 0.000000 49 months and greater 2 56,~~835~~610,~~282~~363.8664 6.1312 1412 8.~~0152~~0146 1.~~336139~~299380 Totals 55 ~~926~~925,~~548~~235,~~656~~144.6484 100.00 ~~103~~101 6.~~4470~~4471 1.~~648395~~642184

Anticipated Remaining Term (ARD and Balloon Loans) Anticipated # of Scheduled % of Weighted Remaining Term(2) Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) 60 months or less 3 65,~~958~~719,~~779~~597.2914 7.1210 1816 8.~~0062~~0056 1.~~332524~~300852 61 to 120 months 51 ~~855~~854,~~527~~462,~~244~~707.7746 92.3335 ~~109~~107 6.~~3297~~3301 1.~~672975~~666381 121 months and greater 1 5,~~062~~052,~~632~~840.5824 0.55 ~~136~~134 5.9600 1.~~610000~~990000 Totals 55 ~~926~~925,~~548~~235,~~656~~144.6484 100.00 ~~103~~101 6.~~4470~~4471 1.~~648395~~642184

Remaining Amortization Term (ARD and Balloon Loans) Remaining # of Scheduled % of Weighted Amortization Term Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) 120 months or less 0 0.00 0.00 0 0.0000 0.000000 121 to 180 months 0 0.00 0.00 0 0.0000 0.000000 181 to 240 months 2 56,~~835~~610,~~282~~363.8664 6.1312 1412 8.~~0152~~0146 1.~~336139~~299380 241 to 300 months 6 276,~~201~~148,~~056~~963.5164 29.8185 ~~110~~108 6.~~7478~~7479 1.~~814120~~816236 301 months and greater 47 ~~593~~592,~~512~~475,~~317~~817.2756 64.0604 ~~108~~106 6.~~1569~~1571 1.~~601174~~593815 Totals 55 ~~926~~925,~~548~~235,~~656~~144.6484 100.00 ~~103~~101 6.~~4470~~4471 1.~~648395~~642184

Age of Most Recent NOI Age of Most # of Scheduled % of Weighted Recent NOI Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) Underwriter's Information 5227 ~~792~~569,~~079~~508,~~623~~880.1122 8561.4955 ~~107~~104 6.~~4851~~5915 1.~~641710~~689887 1 year or less 326 ~~134~~263,~~469~~251,~~033~~715.5300 1428.5145 7892 6.~~2229~~5658 1.~~687775~~471106 1 to 2 years 02 092,474,549.0062 09.0099 0105 05.~~0000~~2195 01.~~000000~~835426 2 years or greater 0 0.00 0.00 0 0.0000 0.000000 Totals 55 ~~926~~925,~~548~~235,~~656~~144.6484 100.00 ~~103~~101 6.~~4470~~4471 1.~~648395~~642184 (1) Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrower on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document is used. The Trustee makes no representations as to the accuracy of the data provided by the borrower for this calculation. (2)Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the maturity date. (3) Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut-off Date balance of each property as disclosed in the offering document. Note: (i) An ARD Loan constitutes a "Hyper-Amortization Loan" as defined in the offering document.

Mortgage Loan Detail Loan Property Interest Principal Gross Number ODCR Type(1) City State Payment Payment Coupon 700201020 1 OF New York NY 767,121.69 0.00 6.853% 700201024 1A 206,532.76 0.00 6.853% 700201082 2 RT Katy TX 535,997.75 0.00 6.693% 700201038 3 RT Oak Brook IL ~~353~~352,~~667~~782.0747 ~~103~~104,~~443~~328.6020 5.120% 700200911 4 OF New York NY 108,984.38 0.00 6.250% 700200926 4A 103,602.43 0.00 6.250% 700200927 4B 103,602.43 0.00 6.250% 700200630 5 RT Lafayette IN 85,~~617~~403.4752 1819,~~797~~011.1611 6.810% 700201083 5A ~~294~~293,~~762~~455.9231 9293,~~522~~830.5819 8.450% 600872125 6 18 MH Various Various 295,~~912~~472.2523 2930,~~896~~336.7577 7.350% 700201045 19 20 MU Washington DC ~~256~~255,~~005~~568.0379 3435,~~746~~182.2650 6.500% 700201002 21 23 IN Various Various ~~137~~136,~~195~~922.8721 2425,~~981~~255.5824 5.830% 700201005 24 25 IN Various Various ~~136~~135,~~083~~810.0010 2425,~~925~~198.1707 5.830% 700201084 26 33 RT Various MA 179,~~466~~226.8904 15,~~055~~296.4934 7.770% 700201059 34 RT Scottsdale AZ 85,~~809~~645.6604 14,~~591~~755.0365 5.970% 700201060 35 OF Scottsdale AZ 36,~~775~~705.5702 6,~~253~~323.3085 5.970% 700200992 36 RT Brewster NY 107,~~744~~536.0218 18,~~296~~504.6448 6.010% 700201003 37 41 IN Various Various 93,~~439~~261.4896 15,~~407~~584.1668 6.080% 700200944 42 RT Riverdale UT 92,~~952~~781.5889 14,~~295~~466.4110 6.260% 700201070 43 RT Brooklyn NY 8079,~~016~~847.2328 16,~~507~~676.9085 5.500% 700200996 44 RT Yorba Linda CA 64,~~598~~470.4960 11,~~537~~665.3423 5.890% 700200935 45 RT Vernon Hills IL 57,~~256~~144.0401 910,~~893~~005.6265 6.000% 600872126 46 RT Aberdeen WA 51,~~696~~597.2795 8,~~580~~678.6294 6.050% 700200946 47 MF Dallas TX 46,~~415~~279.5829 12,~~610~~746.5786 5.910% 700200782 48 OF Columbia MD 60,~~489~~396.9407 7,~~061~~155.1401 7.950% 600872127 49 RT Miami FL 48,~~091~~002.4901 7,~~652~~742.8937 6.150% 600872128 50 OF Seattle WA 46,~~570~~489.7715 6,~~522~~604.9456 6.500% 600872129 51 OF Encino CA 38,~~610~~534.6731 6,~~913~~989.1450 5.870% 700201076 52 RT Sonora CA 38,~~276~~203.3919 6,~~497~~570.2141 5.960% 700200970 53 OF Agoura Hills CA 35,~~469~~393.3042 7,~~350~~426.4533 5.550% 700201011 54 RT Irving TX 3635,~~068~~995.2024 6,~~718~~791.3026 5.790% 700200947 55 RT Chino CA 36,~~818~~746.5552 6,~~455~~527.0003 5.920% 700200964 56 IN New York NY 42,~~712~~652.0392 3,~~906~~965.1627 7.450% 700200965 57 RT Cheltenham ~~Townsh~~Townshi PA 31,~~164~~103.4372 5,~~368~~429.9465 5.990% 600872130 58 RT Scottsdale AZ 29,~~480~~421.5448 5,~~363~~422.6571 5.860% 700201000 59 RT Austin TX 30,~~523~~465.5657 5,~~033~~091.0100 6.080% 700201062 60 63 Various Various PA 30,~~199~~116.3326 7,~~261~~344.0108 6.210% 700200923 64 OF Arlington Heights IL 31,~~108~~053.9014 4,~~544~~600.9470 6.400% 700201061 65 MU Scottsdale AZ 28,~~092~~038.4555 4,~~776~~830.8272 5.970% 700201071 66 OF Newton MA 2625,~~005~~955.35 4,~~440~~490.70 5.960% 700200864 67 IN Allentown/Upper MaMac PA 27,~~583~~537.5500 3,~~549~~595.1671 6.750% 700200948 68 RT Lake Worth TX 22,~~598~~554.8026 4,~~002~~046.3993 5.910% 700201066 69 IN Northvale NJ 20,~~223~~184.7544 3,~~527~~566.3162 5.910% 700200986 70 OF Franklin Township NJ 19,~~207~~170.6451 3,~~275~~312.5063 6.000% 600872131 71 RT San Diego CA 18,~~757~~705.0951 4,~~439~~491.6321 6.300% 700200955 72 MF Columbia MO 16,~~887~~855.9411 2,~~897~~930.2306 6.000% 700201078 73 RT Port St. Lucie FL 15,~~972~~941.4301 2,~~864~~896.8527 5.830% 700200962 74 OF Edison Township NJ 15,~~864~~833.4359 2,~~721~~752.6448 6.000% 700201056 75 MF Fairview OR 15,~~245~~216.4804 2,~~625~~654.4892 5.940% 700201077 76 OF Simi Valley CA 14,~~236~~206.1121 2,~~891~~921.7969 5.550% 700200990 77 RT Portland OR 15,~~279~~250.4397 2,~~425~~454.7521 6.170% 700200952 78 OF Jacksonville FL 14,~~316~~291.3111 2,~~032~~057.0626 6.450% 700201075 79 RT Salem OR 11,~~731~~707.8042 2,~~333~~357.1452 5.600% 700200865 80 IN Branchburg NJ 12,~~642~~621.4613 1,~~626~~648.7003 6.750% 700201001 81 OF Denver CO 9,~~218~~197.6665 1,~~820~~841.3132 6.180% Totals 5,~~120~~113,~~703~~590.6419 ~~611~~618,~~241~~354.4287

Loan Anticipated Neg Beginning Ending Paid Number Repayment Maturity Amort Scheduled Scheduled Thru Date Date (Y/N) Balance Balance Date 700201020 N/A 01/07/2013 N 130,000,000.00 130,000,000.00 1012/07/2003 700201024 N/A 01/07/2013 N 35,000,000.00 35,000,000.00 1012/07/2003 700201082 N/A 01/09/2013 N 93,000,000.00 93,000,000.00 1012/09/2003 700201038 N/A 10/01/2012 N 82,~~890~~683,~~719~~390.4993 82,~~787~~579,~~275~~062.8973 1101/01/~~2003~~2004 700200911 N/A 09/01/2012 N 20,250,000.00 20,250,000.00 1101/01/~~2003~~2004 700200926 N/A 09/01/2012 N 19,250,000.00 19,250,000.00 1101/01/~~2003~~2004 700200927 N/A 09/01/2012 N 19,250,000.00 19,250,000.00 1101/01/~~2003~~2004 700200630 N/A 01/01/2005 N 15,~~086~~049,~~779~~078.7172 15,~~067~~030,~~982~~067.5561 1101/01/~~2003~~2004 700201083 N/A 01/01/2005 N 41,~~859~~674,~~822~~126.8922 41,~~767~~580,~~300~~296.3103 1101/01/~~2003~~2004 600872125 N/A 05/01/2012 N 46,~~753~~684,~~745~~223.8164 46,~~723~~653,~~849~~886.0687 1001/01/~~2003~~2004 700201045 N/A 03/01/2013 N 45,~~737~~659,~~871~~932.9398 45,~~703~~624,~~125~~750.6748 1011/01/2003 700201002 N/A 02/01/2013 N 27,~~328~~273,~~341~~831.9676 27,~~303~~248,~~360~~576.3852 1101/01/~~2003~~2004 700201005 N/A 01/01/2013 N 27,~~106~~052,~~668~~307.2808 27,~~081~~027,~~743~~109.1101 1101/01/~~2003~~2004 700201084 N/A 06/01/2012 N 26,~~822~~786,~~801~~803.0028 26,~~807~~771,~~745~~506.5194 1101/01/~~2003~~2004 700201059 N/A 03/01/2013 N 16,~~691~~659,~~780~~757.5080 16,~~677~~645,~~189~~002.4715 1101/01/~~2003~~2004 700201060 N/A 03/01/2013 N 7,~~153~~139,~~620~~896.2018 7,~~147~~133,~~366~~572.9033 1101/01/~~2003~~2004 700200992 N/A 01/01/2013 N 20,~~818~~778,~~983~~822.2168 20,~~800~~760,~~686~~318.5720 1101/01/~~2003~~2004 700201003 N/A 01/01/2013 N 17,~~847~~813,~~099~~193.7317 17,~~831~~797,~~692~~608.5749 1101/01/~~2003~~2004 700200944 N/A 12/01/2012 N 17,~~243~~211,~~599~~935.2539 17,~~229~~197,~~303~~469.8429 1101/01/~~2003~~2004 700201070 N/A 04/01/2013 N 16,~~894~~859,~~921~~249.6502 16,~~878~~842,~~413~~572.7517 1101/01/~~2003~~2004 700200996 N/A 01/01/2013 N 12,~~736~~711,~~433~~218.9783 12,~~724~~699,~~896~~553.6360 1101/01/~~2003~~2004 700200935 N/A 11/01/2012 N 11,~~081~~060,~~814~~130.2759 11,~~071~~050,~~920~~124.6594 1101/01/~~2003~~2004 600872126 N/A 02/01/2013 N 9,~~923~~904,~~037~~165.9583 9,~~914~~895,~~457~~486.3389 1012/01/2003 700200946 N/A 01/01/2013 N 9,~~120~~093,~~467~~687.6715 9,~~107~~080,~~857~~940.1029 1101/01/~~2003~~2004 700200782 N/A 04/01/2007 N 9,~~130~~116,~~557~~388.5751 9,~~123~~109,~~496~~233.4350 1101/01/~~2003~~2004 600872127 N/A 02/01/2013 N 9,~~081~~064,~~005~~109.4511 9,~~073~~056,~~352~~366.5674 1001/01/~~2003~~2004 600872128 N/A 11/01/2012 N 8,~~320~~305,~~336~~753.7324 8,~~313~~299,~~813~~148.7968 1012/01/2003 600872129 N/A 02/01/2013 N 7,~~638~~623,~~533~~427.5897 7,~~631~~616,~~620~~438.4447 1001/01/~~2003~~2004 700201076 N/A 04/01/2013 N 7,~~458~~443,~~053~~791.0664 7,~~451~~437,~~555~~221.8523 1101/01/~~2003~~2004 700200970 N/A 12/01/2012 N 7,~~421~~405,~~650~~771.4741 7,~~414~~398,~~300~~345.0208 1101/01/~~2003~~2004 700201011 N/A 01/01/2013 N 7,~~234~~219,~~136~~503.2069 7,~~227~~212,~~417~~712.9043 1101/01/~~2003~~2004 700200947 N/A 02/01/2013 N 7,~~222~~208,~~471~~341.2167 7,~~216~~201,~~016~~814.2164 1101/01/~~2003~~2004 700200964 N/A 01/01/2013 N 6,~~657~~648,~~861~~647.9659 6,~~653~~644,~~955~~682.8032 1112/01/2003 700200965 N/A 12/01/2012 N 6,~~041~~030,~~894~~124.7879 6,~~036~~024,~~525~~695.8414 1101/01/~~2003~~2004 600872130 N/A 12/01/2012 N 5,~~842~~830,~~229~~525.6719 5,~~836~~825,~~866~~102.0248 1112/01/2003 700201000 N/A 01/01/2013 N 5,~~830~~818,~~052~~976.5843 5,~~825~~813,~~019~~885.5743 1101/01/~~2003~~2004 700201062 N/A 03/01/2013 N 5,~~647~~631,~~372~~838.6386 5,~~640~~624,~~111~~494.6278 1101/01/~~2003~~2004 700200923 N/A 11/01/2012 N 5,~~644~~634,~~760~~642.2562 5,~~640~~630,~~215~~041.3192 1101/01/~~2003~~2004 700201061 N/A 03/01/2013 N 5,~~464~~454,~~571~~087.0140 5,~~459~~449,~~794~~256.1968 1101/01/~~2003~~2004 700201071 N/A 03/01/2015 N 5,~~067~~057,~~073~~330.2894 5,~~062~~052,~~632~~840.5824 1101/01/~~2003~~2004 700200864 N/A 08/01/2012 N 4,~~745~~737,~~557~~549.3124 4,~~742~~733,~~008~~953.1553 1101/01/~~2003~~2004 700200948 N/A 01/01/2013 N 4,~~440~~431,~~570~~817.4800 4,~~436~~427,~~568~~770.0907 1101/01/~~2003~~2004 700201066 N/A 03/01/2013 N 3,~~973~~966,~~882~~158.4104 3,~~970~~962,~~355~~591.1042 1101/01/~~2003~~2004 700200986 N/A 01/01/2013 N 3,~~717~~710,~~608~~421.0608 3,~~714~~707,~~332~~108.5645 1101/01/~~2003~~2004 600872131 N/A 01/01/2013 N 3,~~457~~448,~~527~~019.4278 3,~~453~~443,~~087~~528.7957 1012/01/2003 700200955 N/A 12/01/2012 N 3,~~268~~262,~~632~~279.8614 3,~~265~~259,~~735~~349.6308 1101/01/~~2003~~2004 700201078 N/A 04/01/2013 N 3,~~181~~175,~~583~~324.2640 3,~~178~~172,~~718~~428.4113 1101/01/~~2003~~2004 700200962 N/A 12/01/2012 N 3,~~070~~064,~~533~~565.8823 3,~~067~~061,812.2475 1101/01/~~2003~~2004 700201056 N/A 03/01/2013 N 2,~~980~~974,~~543~~787.7096 2,~~977~~972,~~918~~133.2204 1101/01/~~2003~~2004 700201077 N/A 03/01/2013 N 2,~~978~~972,~~784~~527.1798 2,~~975~~969,~~892~~606.3829 1101/01/~~2003~~2004 700200990 N/A 01/01/2013 N 2,~~875~~870,~~828~~471.1328 2,~~873~~868,~~402~~017.3807 1101/01/~~2003~~2004 700200952 N/A 12/01/2012 N 2,~~577~~573,~~579~~042.4458 2,~~575~~570,~~547~~985.3832 1101/01/~~2003~~2004 700201075 N/A 03/01/2013 N 2,~~432~~427,~~862~~806.3675 2,~~430~~425,~~529~~449.2223 1001/01/~~2003~~2004 700200865 N/A 08/01/2012 N 2,~~175~~171,~~047~~376.0770 2,~~173~~169,~~420~~728.3767 1101/01/~~2003~~2004 700201001 N/A 01/01/2013 N 1,~~732~~728,~~287~~340.6124 1,~~730~~726,~~467~~498.3092 1101/01/~~2003~~2004 Totals ~~927~~925,~~159~~853,~~898~~499.0671 ~~926~~925,~~548~~235,~~656~~144.6484 Appraisal Appraisal Res Mod Reduction Reduction Strat. Code Date Amount (2) (3) Totals 0.00 (1) Property Type Code MF- Multi-Family RT- Retail HC- Health Care IN- Industrial WH- Warehouse MH- Mobile Home Park OF- Office MU- Mixed Use LO- Lodging SS- Self Storage OT- Other (2) Resolution Strategy Code 1- Modification 2- Foreclosure 3- Bankruptcy 4- Extension 5- Note Sale 6- DPO 7- REO 8- Resolved 9- Pending Return to Master Servicer 10- Deed In Lieu of Foreclosure 11- Full Payoff 12- Reps and Warranties 13- Other or TBD (3) Modification Code 1- Maturity Date Extension 2- Amortization Change 3- Principal Write-Off 4- Combination

Principal Prepayment Detail No Principal Prepayments this Period

Historical Detail Delinquencies Distribution 30-59 Days 60-89 Days 90 Days or More Foreclosure REO Modifications Date # Balance # Balance # Balance # Balance # Balance # Balance 01/12/2004 1$45,624,750.48 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 12/12/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 11/12/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 10/14/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 09/12/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 08/12/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 07/14/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 06/12/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 05/12/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 04/14/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00

Prepayments Distribution Curtailments Payoff Date # Amount # Amount 01/12/2004 0 $0.00 0 $0.00 12/12/2003 0 $0.00 0 $0.00 11/12/2003 0 $0.00 0 $0.00 10/14/2003 0 $0.00 0 $0.00 09/12/2003 0 $0.00 0 $0.00 08/12/2003 0 $0.00 0 $0.00 07/14/2003 0 $0.00 0 $0.00 06/12/2003 0 $0.00 0 $0.00 05/12/2003 0 $0.00 0 $0.00 04/14/2003 0 $0.00 0 $0.00

Rate and Maturities Distribution Next Weighted Avg. WAM Date Coupon Remit 01/12/2004 6.447079% 6.408854% 101 12/12/2003 6.447048% 6.408823% 102 11/12/2003 6.447010% 6.408782% 103 10/14/2003 6.446978% 6.408750% 104 09/12/2003 6.446939% 6.408709% 105 08/12/2003 6.446907% 6.408676% 106 07/14/2003 6.446875% 6.408642% 107 06/12/2003 6.446834% 6.408600% 108 05/12/2003 6.446801% 6.408565% 109 04/14/2003 6.446759% 6.408522% 110 Note: Foreclosure and REO Totals are excluded from the delinquencies aging categories.

Delinquency Loan Detail Offering # of Current Outstanding Status of Loan Number Document Months Paid Through P & I P & I Mortgage Cross-Reference Delinq. Date Advances Advances** Loan (1) 700201020 1 0 12/07/2003 763,763.36 763,763.36 A 700201024 1A 0 12/07/2003 205,628.60 205,628.60 A 700201082 2 0 12/09/2003 533,595.25 533,595.25 A 700201045 19 20 1 11/01/2003 289,453.79 580,323.03 1 600872126 46 0 12/01/2003 59,168.18 59,168.18 B 600872128 50 0 12/01/2003 52,163.93 52,163.93 B 700200964 56 0 12/01/2003 46,446.43 46,446.43 B 600872130 58 0 12/01/2003 34,442.53 34,442.53 B 600872131 71 0 12/01/2003 22,810.73 22,810.73 B Totals 9 2,007,472.80 2,298,342.04

Resolution Actual Outstanding Loan Number Strategy Servicing Foreclosure Principal Servicing Bankruptcy REO Code (2) Transfer Date Date Balance Advances 700201020 130,000,000.00 0.00 700201024 35,000,000.00 0.00 700201082 93,000,000.00 0.00 700201045 45,703,125.67 0.00 600872126 9,904,165.83 0.00 600872128 8,305,753.24 0.00 700200964 6,648,647.59 8,409.08 600872130 5,830,525.19 0.00 600872131 3,448,019.78 0.00 Totals 337,840,237.30 8,409.08

Totals by Delinquency Code: Current Outstanding Actual Outstanding P&I P & I Principal Servicing Advances Advances Balance Advances Total for Status Code = 1 (1 loan) 289,453.79 580,323.03 45,703,125.67 0.00 Total for Status Code = A (3 loans) 1,502,987.21 1,502,987.21 258,000,000.00 0.00 Total for Status Code = B (5 loans) 215,031.80 215,031.80 34,137,111.63 8,409.08

(1) Status of Mortgage Loan A- Payment Not Received But Still in Grace Period B- Late Payment But Less Than 1 Month Delinquent 0- Current 1- One Month Delinquent 2- Two Months Delinquent 3- Three Or More Months Delinquent 4- Assumed Scheduled Payment (Performing Matured Balloon) 7- Foreclosure 9- REO (2) Resolution Strategy Code 1- Modification 2- Foreclosure 3- Bankruptcy 4- Extension 5- Note Sale 6- DPO 7- REO 8- Resolved 9- Pending Return to Master Servicer 10- Deed In Lieu Of Foreclosure 11- Full Payoff 12- Reps and Warranties 13- Other or TBD ** Outstanding P & I Advances include the current period advance. Specially Serviced Loan Detail - Part 1 No Specially Serviced Loans this Period Specially Serviced Loan Detail - Part 2 No Specially Serviced Loans this Period Modified Loan Detail No Modified Loans Liquidated Loan Detail No Liquidated Loans this Period

Filing Compare · MORGAN STANLEY DEAN WITTER CAP I INC DEP FOR SER 2003 HQ2