8-K 1 bsl03001.txt MARCH 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): March 25, 2004 BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-30 54-2120433 Pooling and Servicing Agreement) (Commission 54-2120432 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, 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 March 25, 2004 a distribution was made to holders of BEAR STEARNS ALT-A TRUST, Mortgage Pass-Through Certificates, Series 2003-1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the March 25, 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. BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 3/31/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the March 25, 2004 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 112/3029/032004 Distribution Date: 123/2625/032004 BSL Series: 2003-1 Contact: Customer Service - CTSLink Wells Fargo Bank ~~Minnesota~~, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A 07386HBF7 SEN 1.~~49875~~47000% ~~247~~216,~~135~~689,~~682~~515.3257 ~~318~~256,~~950~~596.9150 97,~~936~~882,~~574~~910.8539 II-A 07386HBG5 SEN 1.~~41875~~39000% ~~107~~86,~~095~~018,~~630~~273.9307 ~~130~~96,~~838~~316.8857 65,~~595~~983,~~338~~909.8840 M 07386HBH3 SUB 2.~~21875~~19000% 15,804,800.00 3027,~~196~~882.5030 0.00 B-IO 07386HBK6 SUB 0.00000% 0.00 1,~~259~~083,~~263~~789.9548 0.00 OC BSL03001X SUB 0.00000% 3,160,951.00 0.00 0.00 XP 07386HBJ9 SEN 0.00000% 100.00 0.00 0.00 R-I 07386HBL4 RES 0.00000% 0.00 0.00 0.00 R-II 07386HBM2 RES 0.00000% 0.00 0.00 0.00 Totals ~~373~~321,~~197~~673,~~164~~639.2564 1,~~739~~464,~~250~~584.2485 1613,~~531~~866,~~913~~819.7379

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 ~~237~~208,~~199~~806,~~107~~605.4718 108,~~255~~139,~~525~~506.7689 0.00 II-A 0.00 ~~100~~80,~~500~~034,~~292~~363.0567 6,~~726~~080,~~177~~225.7697 0.00 M 0.00 15,804,800.00 3027,~~196~~882.5030 0.00 B-IO 0.00 0.00 1,~~259~~083,~~263~~789.9548 0.00 OC 0.00 3,160,951.00 0.00 0.00 XP 0.00 100.00 0.00 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 Totals 0.00 ~~356~~307,~~665~~806,~~250~~819.5285 1815,~~271~~331,~~163~~404.9764 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) I-A 346,987,400.00 ~~247~~216,~~135~~689,~~682~~515.3257 0.00 97,~~936~~882,~~574~~910.8539 0.00 0.00 II-A 269,398,000.00 ~~107~~86,~~095~~018,~~630~~273.9307 0.00 65,~~595~~983,~~338~~909.8840 0.00 0.00 M 15,804,800.00 15,804,800.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 OC 22.63 3,160,951.00 0.00 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 R-I 0.00 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 0.00 Totals 632,190,322.63 ~~373~~321,~~197~~673,~~164~~639.2564 0.00 1613,~~531~~866,~~913~~819.7379 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 I-A 97,~~936~~882,~~574~~910.8539 ~~237~~208,~~199~~806,~~107~~605.4718 0.~~68359574~~60176999 97,~~936~~882,~~574~~910.8539 II-A 65,~~595~~983,~~338~~909.8840 ~~100~~80,~~500~~034,~~292~~363.0567 0.~~37305508~~29708596 65,~~595~~983,~~338~~909.8840 M 0.00 15,804,800.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 OC 0.00 3,160,951.00 139,679.67300044 0.00 XP 0.00 100.00 1.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 1613,~~531~~866,~~913~~819.7379 ~~356~~307,~~665~~806,~~250~~819.5285 0.~~56417385~~48688948 1613,~~531~~866,~~913~~819.7379

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 346,987,400.00 ~~712~~624.~~23243933~~48813868 0.00000000 2822.~~63670223~~71814593 0.00000000 II-A 269,398,000.00 ~~397~~319.~~53684485~~29811309 0.00000000 2422.~~48176631~~21215228 0.00000000 M 15,804,800.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 22.63 139679673.00044200 0.00000000 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) 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 I-A 0.00000000 2822.~~63670223~~71814593 ~~683~~601.~~59573711~~76999274 0.~~68359574~~60176999 2822.~~63670223~~71814593 II-A 0.00000000 2422.~~48176631~~21215228 ~~373~~297.~~05507855~~08596081 0.~~37305508~~29708596 2422.~~48176631~~21215228 M 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 39139,679,673.00044200 139679.67300044 0.00000000 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 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 I-A 346,987,400.00 1.~~49875~~47000% ~~247~~216,~~135~~689,~~682~~515.3257 ~~318~~256,~~950~~596.9150 0.00 0.00 II-A 269,398,000.00 1.~~41875~~39000% ~~107~~86,~~095~~018,~~630~~273.9307 ~~130~~96,~~838~~316.8857 0.00 0.00 M 15,804,800.00 2.~~21875~~19000% 15,804,800.00 3027,~~196~~882.5030 0.00 0.00 B-IO 0.00 0.00000% ~~373~~321,~~197~~673,~~064~~539.2564 0.00 0.00 0.00 OC 22.63 0.00000% 3,160,951.00 0.00 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 R-I 0.00 0.00000% 0.00 0.00 0.00 0.00 R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 632,190,322.63 ~~479~~380,~~986~~795.2937 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 I-A 0.00 0.00 ~~318~~256,~~950~~596.9150 0.00 ~~237~~208,~~199~~806,~~107~~605.4718 II-A 0.00 0.00 ~~130~~96,~~838~~316.8857 0.00 ~~100~~80,~~500~~034,~~292~~363.0567 M 0.00 0.00 3027,~~196~~882.5030 0.00 15,804,800.00 B-IO 0.00 0.00 1,~~259~~083,~~263~~789.9548 0.00 ~~356~~307,~~665~~806,~~150~~719.5285 OC 0.00 0.00 0.00 0.00 3,160,951.00 XP 0.00 0.00 0.00 0.00 100.00 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,~~739~~464,~~250~~584.2485 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 I-A 346,987,400.00 1.~~49875~~47000% ~~712~~624.~~23243933~~48813868 0.~~91920026~~73949803 0.00000000 0.00000000 II-A 269,398,000.00 1.~~41875~~39000% ~~397~~319.~~53684485~~29811309 0.~~48567131~~35752519 0.00000000 0.00000000 M 15,804,800.00 2.~~21875~~19000% 1000.00000000 1.~~91059045~~76416658 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~590~~508.~~32400517~~82397121 0.00000000 0.00000000 0.00000000 OC 22.63 0.00000% 139679673.00044200 0.00000000 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) 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 I-A 0.00000000 0.00000000 0.~~91920026~~73949803 0.00000000 ~~683~~601.~~59573711~~76999274 II-A 0.00000000 0.00000000 0.~~48567131~~35752519 0.00000000 ~~373~~297.~~05507855~~08596081 M 0.00000000 0.00000000 1.~~91059045~~76416658 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 1.~~99190672~~71434078 0.00000000 ~~564~~486.~~17378465~~88940264 OC 0.00000000 0.00000000 0.00000000 0.00000000 139679673.00044200 XP 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 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 1815,~~363~~419,~~596~~748.2700 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 9083,~~738~~747.6516 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1815,~~454~~503,~~334~~495.9216 Withdrawals Reimbursement for Servicer Advances 7276,~~189~~576.6273 Payment of Service Fee ~~110~~95,~~981~~513.3379 Payment of Interest and Principal 1815,~~271~~331,~~163~~404.9764 Total Withdrawals (Pool Distribution Amount) 1815,~~454~~503,~~334~~495.9216 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 8068,~~629~~096.5898 Additional Servicing Fee 2724,~~509~~580.3390 Miscellaneous Fee 2,~~842~~835.4291 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~110~~95,~~981~~513.3379

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 45 0 0 45 ~~701~~1,~~074~~264,214.8093 0.00 0.00 ~~701~~1,~~074~~264,214.8093 30 Days 3328 0 0 0 3328 97,~~662~~692,~~881~~493.6522 0.00 0.00 0.00 97,~~662~~692,~~881~~493.6522 60 Days 87 0 0 0 87 2,~~470~~505,~~075~~156.3250 0.00 0.00 0.00 2,~~470~~505,~~075~~156.3250 90 Days 32 01 0 0 3 ~~882~~513,~~270~~081.4623 0104,667.0044 0.00 0.00 ~~882~~617,~~270~~748.4667 120 Days 01 0 01 0 02 0341,271.0009 0.00 0330,987.0019 0.00 0672,258.0028 150 Days 12 0 0 0 12 ~~307~~713,~~801~~902.6379 0.00 0.00 0.00 ~~307~~713,~~801~~902.6379 180+ Days 0 0 2 0 2 0.00 0.00 1,025,318.18 0.00 1,025,318.18 Totals 4540 46 23 0 5149 1311,~~323~~765,~~029~~904.0683 ~~701~~1,~~074~~368,882.8037 1,~~025~~356,~~318~~305.1837 0.00 1514,~~049~~491,~~422~~092.0457 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.~~347826~~491642% 0.000000% 0.000000% 0.~~347826~~491642% 0.~~196377~~410300% 0.000000% 0.000000% 0.~~196377~~410300% 30 Days 2.~~869565~~753196% 0.000000% 0.000000% 0.000000% 2.~~869565~~753196% 2.~~706661~~496591% 0.000000% 0.000000% 0.000000% 2.~~706661~~496591% 60 Days 0.~~695652~~688299% 0.000000% 0.000000% 0.000000% 0.~~695652~~688299% 0.~~691890~~813046% 0.000000% 0.000000% 0.000000% 0.~~691890~~813046% 90 Days 0.~~260870~~196657% 0.~~000000~~098328% 0.000000% 0.000000% 0.~~260870~~294985% 0.~~247132~~166520% 0.~~000000~~033970% 0.000000% 0.000000% 0.~~247132~~200490% 120 Days 0.~~000000~~098328% 0.000000% 0.~~000000~~098328% 0.000000% 0.~~000000~~196657% 0.~~000000~~110759% 0.000000% 0.~~000000~~107422% 0.000000% 0.~~000000~~218181% 150 Days 0.~~086957~~196657% 0.000000% 0.000000% 0.000000% 0.~~086957~~196657% 0.~~086218~~231696% 0.000000% 0.000000% 0.000000% 0.~~086218~~231696% 180+ Days 0.000000% 0.000000% 0.~~173913~~196657% 0.000000% 0.~~173913~~196657% 0.000000% 0.000000% 0.~~287201~~332766% 0.000000% 0.~~287201~~332766% Totals 3.~~913043~~933137% 0.~~347826~~589971% 0.~~173913~~294985% 0.000000% 4.~~434783~~818092% 3.~~731901~~818613% 0.~~196377~~444269% 0.~~287201~~440188% 0.000000% 4.~~215479~~703070%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 45 0 0 45 ~~701~~1,~~074~~264,214.8093 0.00 0.00 ~~701~~1,~~074~~264,214.8093 30 Days 2018 0 0 0 2018 54,~~571~~631,~~645~~904.2845 0.00 0.00 0.00 54,~~571~~631,~~645~~904.2845 60 Days 45 0 0 0 45 1,~~045~~818,~~044~~556.0948 0.00 0.00 0.00 1,~~045~~818,~~044~~556.0948 90 Days 21 01 0 0 2 ~~548~~210,~~512~~247.6125 0104,667.0044 0.00 0.00 ~~548~~314,~~512~~914.6169 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 2 0 2 0.00 0.00 1,025,318.18 0.00 1,025,318.18 Totals 2624 46 2 0 32 76,~~165~~660,~~201~~708.9818 ~~701~~1,~~074~~368,882.8037 1,025,318.18 0.00 89,~~891~~054,~~594~~908.9673 0-29 Days 0.~~459242~~635324% 0.000000% 0.000000% 0.~~459242~~635324% 0.~~283319~~577143% 0.000000% 0.000000% 0.~~283319~~577143% 30 Days 2.~~296211~~287166% 0.000000% 0.000000% 0.000000% 2.~~296211~~287166% 2.~~251616~~114571% 0.000000% 0.000000% 0.000000% 2.~~251616~~114571% 60 Days 0.~~459242~~635324% 0.000000% 0.000000% 0.000000% 0.~~459242~~635324% 0.~~422324~~830213% 0.000000% 0.000000% 0.000000% 0.~~422324~~830213% 90 Days 0.~~229621~~127065% 0.~~000000~~127065% 0.000000% 0.000000% 0.~~229621~~254130% 0.~~221665~~095983% 0.~~000000~~047783% 0.000000% 0.000000% 0.~~221665~~143766% 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.~~229621~~254130% 0.000000% 0.~~229621~~254130% 0.000000% 0.000000% 0.~~414352~~468081% 0.000000% 0.~~414352~~468081% Totals 23.~~985075~~049555% 0.~~459242~~762389% 0.~~229621~~254130% 0.000000% 34.~~673938~~066074% 23.~~895605~~040766% 0.~~283319~~624926% 0.~~414352~~468081% 0.000000% 34.~~593275~~133774% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 1310 0 0 0 1310 43,~~091~~060,~~236~~588.3777 0.00 0.00 0.00 43,~~091~~060,~~236~~588.3777 60 Days 42 0 0 0 42 1686,~~425,031~~600.2302 0.00 0.00 0.00 1686,~~425,031~~600.2302 90 Days 1 0 0 0 1 ~~333~~302,~~757~~833.8598 0.00 0.00 0.00 ~~333~~302,~~757~~833.8598 120 Days 01 0 01 0 02 0341,271.0009 0.00 0330,987.0019 0.00 0672,258.0028 150 Days 12 0 0 0 12 ~~307~~713,~~801~~902.6379 0.00 0.00 0.00 ~~307~~713,~~801~~902.6379 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1916 0 01 0 1917 65,~~157~~105,~~827~~196.0865 0.00 0330,987.0019 0.00 65,~~157~~436,~~827~~183.0884 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 4.~~659498~~347826% 0.000000% 0.000000% 0.000000% 4.~~659498~~347826% 3.~~734486~~436051% 0.000000% 0.000000% 0.000000% 3.~~734486~~436051% 60 Days 10.~~433692~~869565% 0.000000% 0.000000% 0.000000% 10.~~433692~~869565% 10.~~300771~~770830% 0.000000% 0.000000% 0.000000% 10.~~300771~~770830% 90 Days 0.~~358423~~434783% 0.000000% 0.000000% 0.000000% 0.~~358423~~434783% 0.~~304655~~339985% 0.000000% 0.000000% 0.000000% 0.~~304655~~339985% 120 Days 0.~~000000~~434783% 0.000000% 0.~~000000~~434783% 0.000000% 0.~~000000~~869565% 0.~~000000~~383137% 0.000000% 0.~~000000~~371592% 0.000000% 0.~~000000~~754729% 150 Days 0.~~358423~~869565% 0.000000% 0.000000% 0.000000% 0.~~358423~~869565% 0.~~280962~~801482% 0.000000% 0.000000% 0.000000% 0.~~280962~~801482% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 6.~~810036~~956522% 0.000000% 0.~~000000~~434783% 0.000000% 67.~~810036~~391304% 5.~~620873~~731485% 0.000000% 0.~~000000~~371592% 0.000000% 56.~~620873~~103077%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 9083,~~738~~747.6516

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~949678~~830294% Weighted Average Net Coupon 5.~~690417~~576259% Weighted Average Pass-Through Rate 5.~~592822~~473980% Weighted Average Maturity(Stepdown Calculation ) ~~349~~346 Beginning Scheduled Collateral Loan Count 1,~~199~~057 Number Of Loans Paid In Full 4940 Ending Scheduled Collateral Loan Count 1,~~150~~017 Beginning Scheduled Collateral Balance ~~373~~321,~~197~~673,~~064~~539.2564 Ending Scheduled Collateral Balance ~~356~~307,~~665~~806,~~150~~719.5285 Ending Actual Collateral Balance at 3029-~~Nov~~Feb-~~2003~~2004 ~~357~~308,~~003~~119,~~823~~863.7101 Monthly P &I Constant 21,~~227~~897,~~735~~978.5792 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~356~~307,~~665~~806,~~150~~719.5285 Scheduled Principal ~~377~~335,~~400~~102.2290 Unscheduled Principal 1613,~~154~~531,~~513~~716.5189 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 3,160,951.00 Overcollateralized Amount 3,160,951.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 1,~~259~~083,~~263~~789.9549

Group Level Collateral Statement Group Group I Group II Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~653044~~564171 6.~~607337~~465958 5.~~949678~~830294 Weighted Average Net Rate 5.~~421827~~335143 6.~~285902~~152191 5.~~690417~~576259 Weighted Average Maturity ~~349~~346 ~~316~~313 ~~349~~346 Beginning Loan Count ~~902~~812 ~~297~~245 1,~~199~~057 Loans Paid In Full 3125 1815 4940 Ending Loan Count ~~871~~787 ~~279~~230 1,~~150~~017 Beginning Scheduled Balance ~~257~~226,~~191~~745,~~983~~816.4974 ~~116~~94,~~005~~927,~~080~~722.7690 ~~373~~321,~~197~~673,~~064~~539.2564 Ending scheduled Balance ~~247~~218,~~255~~862,~~408~~906.6435 ~~109~~88,~~409~~943,~~741~~813.8850 ~~356~~307,~~665~~806,~~150~~719.5285 Record Date 1102/3029/~~2003~~2004 1102/3029/~~2003~~2004 1102/3029/~~2003~~2004 Principal And Interest Constant 1,~~427~~247,~~818~~080.0240 ~~799~~650,~~917~~898.5552 21,~~227~~897,~~735~~978.5792 Scheduled Principal ~~216~~195,~~219~~703.9226 ~~161~~139,~~180~~399.3064 ~~377~~335,~~400~~102.2290 Unscheduled Principal 97,~~720~~687,~~354~~207.9313 65,~~434~~844,~~158~~509.5876 1613,~~154~~531,~~513~~716.5189 Scheduled Interest 1,~~211~~051,~~598~~377.1014 ~~638~~511,~~737~~498.2588 1,~~850~~562,~~335~~876.3502 Servicing Fees 4943,~~556~~276.1303 3124,~~073~~820.4595 8068,~~629~~096.5898 Master Servicing Fees 0.00 0.00 0.00 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 3027,~~288~~353.2265 63.5316 3027,~~351~~416.7581 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 1980,~~131,753~~747.7546 ~~607~~486,~~600~~614.2777 1,~~739~~467,~~354~~362.0223 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 5.~~280509~~190380 6.~~285245~~151393 5.~~592822~~473980

Filing Compare · STRUCT ASS MORT INV INC BS ALTA MORT PAS THR CER SER 2003 1