8-K 1 prm03001.txt AUGUST 8K 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): August 25, 2004 PRIME MORTGAGE TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-31 54-2116958 Pooling and Servicing Agreement) (Commission 54-2126959 (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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On August 25, 2004 a distribution was made to holders of PRIME MORTGAGE TRUST, Mortgage Pass-Through Certificates, Series 2003-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the August 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. PRIME MORTGAGE TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Registrant) 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: 9/1/2004 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 August 25, 2004 distribution. EX-99.1

Prime Mortgage ~~Pass~~Trust ~~Through Certificates~~ Mortgage Pass-Through Certificates Record Date: 117/3031/032004 Distribution Date: 128/2625/032004 PRM Series: 2003-1 Contact: ~~CTSLink~~ Customer Service - CTSLink Wells Fargo Bank ~~Minnesota~~, N.A. ~~Corporate~~Securities ~~Trust~~Administration Services ~~9062~~7485 ~~Old~~New ~~Annapolis~~Horizon ~~Road~~Way ~~Columbia~~Frederick, MD ~~21045-1951~~21703 Telephone: (301) 815-6600 Fax: (301) 815-~~6600~~6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 74160MAA0 SEN 4.75000% 0.00 0.00 0.00 A-2 74160MAB8 SEN 1.~~61875~~95000% 96,~~549~~563,~~871~~161.3174 1210,~~882~~665.3814 ~~161~~94,~~761~~699.3419 A-3 74160MAC6 SEN 0.75000% 0.00 3121,~~959~~964.3310 0.00 A-4 74160MAD4 SEN 6.~~38125~~05000% 0.00 5033,~~783~~089.4328 0.00 A-5 74160MAE2 SEN 4.75000% 8257,~~967~~019,~~840~~758.4749 ~~328~~225,~~414~~703.3722 1822,~~405,358~~732.0731 A-6 74160MAF9 SEN 5.50000% 2015,~~972~~569,~~961~~786.8974 9671,~~126~~361.0853 ~~539~~845,~~750~~658.5601 A-7 74160MAG7 SEN 5.00000% 70,775,143.00 294,896.4345 0.00 A-8 74160MAH5 SEN 12.~~68875~~02000% 11,795,857.00 1619,~~600~~856.2136 0.00 A-9 74160MAJ1 SEN 6.~~81125~~48000% 0.00 6663,~~953~~697.7863 0.00 A-10 74160MAK8 SEN 5.50000% 312,~~710~~032,~~781~~433.7565 ~~145~~9,~~341~~315.0832 1266,~~360,278~~667.1908 A-11 74160MAL6 SEN 5.45000% 13,375,000.00 60,744.7980 0.00 A-12 74160MAM4 SEN 2.~~32000~~56000% 0.00 0.00 0.00 A-13 74160MAN2 SEN 1211.~~49600~~96800% 0.00 0.00 0.00 A-14 74160MAW2 SEN 0.25000% 0.00 3,270.83 0.00 A-15 74160MAX0 SEN 5.25000% 15,700,000.00 68,687.50 0.00 PO 74160MAP7 PO 0.00000% ~~648~~561,~~296~~148.7868 0.00 1,~~202~~037.2299 X 74160MAQ5 SEN 0.~~24838~~22546% 0.00 5538,~~476~~296.0723 0.00 R-I PRM0301R1 SEN 5.50000% 0.00 0.00 0.00 R-II PRM0301R2 SEN 5.50000% 0.00 0.00 0.00 B-1 74160MAT9 SUB 5.50000% 5,~~350~~302,~~485~~123.2666 24,~~523~~301.0640 56,~~926~~196.8456 B-2 74160MAU6 SUB 5.50000% 1,~~898~~881,~~751~~589.5929 8,~~702~~623.6195 2,~~103~~199.2900 B-3 74160MAV4 SUB 5.50000% 1,~~381~~368,~~090~~607.9059 6,~~330~~272.0079 1,~~529~~599.8648 B-4 74160MAY8 SUB 5.50000% ~~690~~684,~~545~~303.4580 3,~~165~~136.0039 ~~764~~799.9374 B-5 74160MAZ5 SUB 5.50000% ~~517~~512,~~660~~981.69 2,~~372~~351.6117 ~~573~~599.4252 B-6 74160MBA9 SUB 5.50000% ~~691~~685,~~301~~053.5708 3,~~168~~139.4783 ~~765~~800.7755 Totals ~~268~~203,~~025~~826,~~587~~948.6641 1969,~~280,398~~373.0392 32,~~480~~042,~~014~~989.4943

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 0.00 0.00 0.00 A-2 0.00 96,~~388~~468,~~109~~462.9854 ~~174~~105,~~643~~364.7233 0.00 A-3 0.00 0.00 3121,~~959~~964.3310 0.00 A-4 0.00 0.00 5033,~~783~~089.4328 0.00 A-5 0.00 8156,~~562~~197,~~482~~026.4118 1,~~733~~048,~~772~~435.4453 0.00 A-6 0.00 2014,~~433~~724,~~211~~128.3373 ~~635~~917,~~876~~019.6454 0.00 A-7 0.00 70,775,143.00 294,896.4345 0.00 A-8 0.00 11,795,857.00 1619,~~600~~856.2136 0.00 A-9 0.00 0.00 6663,~~953~~697.7863 0.00 A-10 0.00 301,~~350~~765,~~503~~766.5657 1275,~~505,619~~982.2740 0.00 A-11 0.00 13,375,000.00 60,744.7980 0.00 A-12 0.00 0.00 0.00 0.00 A-13 0.00 0.00 0.00 0.00 A-14 0.00 0.00 3,270.83 0.00 A-15 0.00 15,700,000.00 68,687.50 0.00 PO 0.00 ~~647~~560,~~094~~110.5669 1,~~202~~037.2299 0.00 X 0.00 0.00 5538,~~476~~296.0723 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 B-1 0.00 5,~~344~~295,~~558~~927.4210 30,~~449~~497.9096 0.00 B-2 0.00 1,~~896~~879,~~648~~390.3128 10,~~805~~822.9095 0.00 B-3 0.00 1,~~379~~367,~~561~~008.0411 7,~~859~~872.8627 0.00 B-4 0.00 ~~689~~683,~~780~~504.5205 3,~~929~~936.9313 0.00 B-5 0.00 ~~517~~512,~~087~~382.2718 2,~~946~~950.0369 0.00 B-6 0.00 ~~690~~684,~~535~~252.8053 3,~~934~~940.2438 0.00 Totals 0.00 ~~264~~201,~~545~~783,~~573~~958.2096 43,~~760~~012,~~412~~363.5235 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 4,750,000.00 0.00 0.00 0.00 0.00 0.00 A-2 13,250,000.00 96,~~549~~563,~~871~~161.3174 1310,~~274~~514.1832 ~~148~~84,~~487~~184.1688 0.00 0.00 A-3 0.00 0.00 0.00 0.00 0.00 0.00 A-4 0.00 0.00 0.00 0.00 0.00 0.00 A-5 110,364,000.00 8257,~~967~~019,~~840~~758.4749 ~~115~~91,~~324~~346.0479 1731,~~290,034~~385.0351 0.00 0.00 A-6 23,373,000.00 2015,~~972~~569,~~961~~786.8974 4493,~~292~~892.0720 ~~495~~751,~~458~~765.4981 0.00 0.00 A-7 70,775,143.00 70,775,143.00 0.00 0.00 0.00 0.00 A-8 11,795,857.00 11,795,857.00 0.00 0.00 0.00 0.00 A-9 0.00 0.00 0.00 0.00 0.00 0.00 A-10 50,000,000.00 312,~~710~~032,~~781~~433.7565 ~~111~~29,~~624~~607.7766 1237,~~248,653~~059.41 0.00 0.00 A-11 13,375,000.00 13,375,000.00 0.00 0.00 0.00 0.00 A-12 15,655,750.00 0.00 0.00 0.00 0.00 0.00 A-13 7,116,250.00 0.00 0.00 0.00 0.00 0.00 A-14 0.00 0.00 0.00 0.00 0.00 0.00 A-15 15,700,000.00 15,700,000.00 0.00 0.00 0.00 0.00 PO 699,845.00 ~~648~~561,~~296~~148.7868 ~~1,175~~982.5234 2655.7065 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 B-1 5,385,000.00 5,~~350~~302,~~485~~123.2666 56,~~926~~196.8456 0.00 0.00 0.00 B-2 1,911,000.00 1,~~898~~881,~~751~~589.5929 2,~~103~~199.2900 0.00 0.00 0.00 B-3 1,390,000.00 1,~~381~~368,~~090~~607.9059 1,~~529~~599.8648 0.00 0.00 0.00 B-4 695,000.00 ~~690~~684,~~545~~303.4580 ~~764~~799.9374 0.00 0.00 0.00 B-5 521,000.00 ~~517~~512,~~660~~981.69 ~~573~~599.4252 0.00 0.00 0.00 B-6 695,761.00 ~~691~~685,~~301~~053.5708 ~~765~~800.7755 0.00 0.00 0.00 Totals 347,452,706.00 ~~268~~203,~~025~~826,~~587~~948.6641 ~~297~~238,~~354~~538.6916 31,~~182~~804,~~659~~451.7926 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 0.00 0.00 0.00000000 0.00 A-2 ~~161~~94,~~761~~699.3419 96,~~388~~468,~~109~~462.9854 0.~~70853660~~48818585 ~~161~~94,~~761~~699.3419 A-3 0.00 0.00 0.00000000 0.00 A-4 0.00 0.00 0.00000000 0.00 A-5 1822,~~405,358~~732.0731 8156,~~562~~197,~~482~~026.4118 0.~~73903159~~50919708 1822,~~405,358~~732.0731 A-6 ~~539~~845,~~750~~658.5601 2014,~~433~~724,~~211~~128.3373 0.~~87422288~~62996315 ~~539~~845,~~750~~658.5601 A-7 0.00 70,775,143.00 1.00000000 0.00 A-8 0.00 11,795,857.00 1.00000000 0.00 A-9 0.00 0.00 0.00000000 0.00 A-10 1266,~~360,278~~667.1908 301,~~350~~765,~~503~~766.5657 0.~~60701007~~03531533 1266,~~360,278~~667.1908 A-11 0.00 13,375,000.00 1.00000000 0.00 A-12 0.00 0.00 0.00000000 0.00 A-13 0.00 0.00 0.00000000 0.00 A-14 0.00 0.00 0.00000000 0.00 A-15 0.00 15,700,000.00 1.00000000 0.00 PO 1,~~202~~037.2299 ~~647~~560,~~094~~110.5669 0.~~92462554~~80033535 1,~~202~~037.2299 X 0.00 0.00 0.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 B-1 56,~~926~~196.8456 5,~~344~~295,~~558~~927.4210 0.~~99248996~~98345907 56,~~926~~196.8456 B-2 2,~~103~~199.2900 1,~~896~~879,~~648~~390.3128 0.~~99248996~~98345907 2,~~103~~199.2900 B-3 1,~~529~~599.8648 1,~~379~~367,~~561~~008.0411 0.~~99248996~~98345907 1,~~529~~599.8648 B-4 ~~764~~799.9374 ~~689~~683,~~780~~504.5205 0.~~99248996~~98345906 ~~764~~799.9374 B-5 ~~573~~599.4252 ~~517~~512,~~087~~382.2718 0.~~99248996~~98345908 ~~573~~599.4252 B-6 ~~765~~800.7755 ~~690~~684,~~535~~252.8053 0.~~99248995~~98345916 ~~765~~800.7755 Totals 32,~~480~~042,~~014~~989.4943 ~~264~~201,~~545~~783,~~573~~958.2096 0.~~76138585~~58075230 32,~~480~~042,~~014~~989.4943

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 4,750,000.00 0.00000000 0.00000000 0.00000000 0.00000000 A-2 13,250,000.00 ~~720~~495.~~74500453~~33296151 10.~~00182491~~79353358 116.~~20657811~~35357585 0.00000000 A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-5 110,364,000.00 ~~751~~516.~~76543502~~65179307 10.~~04494255~~82768647 116.~~68890245~~62702974 0.00000000 A-6 23,373,000.00 ~~897~~666.~~31578702~~14412955 14.~~89501005~~01712232 2132.~~19789886~~16385616 0.00000000 A-7 70,775,143.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-8 11,795,857.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-9 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-10 50,000,000.00 ~~634~~40.~~21563500~~64867300 20.~~23249540~~59215320 244.~~97306820~~74118820 0.00000000 A-11 13,375,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-12 15,655,750.00 0.00000000 0.00000000 0.00000000 0.00000000 A-13 7,116,250.00 0.00000000 0.00000000 0.00000000 0.00000000 A-14 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-15 15,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 PO 699,845.00 ~~926~~801.~~34337603~~81851696 1.~~67968622~~40365367 0.~~03815130~~07951761 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,385,000.00 ~~993~~984.~~59057753~~60977902 1.~~10062024~~15070752 0.00000000 0.00000000 B-2 1,911,000.00 ~~993~~984.~~59057561~~60978022 1.~~10062271~~15070644 0.00000000 0.00000000 B-3 1,390,000.00 ~~993~~984.~~59057554~~60977698 1.~~10061871~~15070504 0.00000000 0.00000000 B-4 695,000.00 ~~993~~984.~~59057554~~60978417 1.~~10061871~~15070504 0.00000000 0.00000000 B-5 521,000.00 ~~993~~984.~~59057582~~60976967 1.~~10061420~~15071017 0.00000000 0.00000000 B-6 695,761.00 ~~993~~984.~~59057205~~60977261 1.~~10062220~~15061063 0.00000000 0.00000000

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 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 127.~~20840302~~14710868 ~~708~~488.~~53660226~~18585208 0.~~70853660~~48818585 127.~~20840302~~14710868 A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-5 0.00000000 127.~~73384500~~45471630 ~~739~~509.~~03159010~~19707676 0.~~73903159~~50919708 127.~~73384500~~45471630 A-6 0.00000000 2336.~~09290891~~18097848 ~~874~~629.~~22287811~~96315107 0.~~87422288~~62996315 2336.~~09290891~~18097848 A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-10 0.00000000 275.~~20556380~~33334160 ~~607~~35.~~01007120~~31533140 0.~~60701007~~03531533 275.~~20556380~~33334160 A-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-12 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-13 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-14 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-15 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 PO 0.00000000 1.~~71783752~~48317127 ~~924~~800.~~62553851~~33534568 0.~~92462554~~80033535 1.~~71783752~~48317127 X 0.00000000 0.00000000 0.00000000 0.00000000 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 B-1 0.00000000 1.~~10062024~~15070752 ~~992~~983.~~48995729~~45907149 0.~~99248996~~98345907 1.~~10062024~~15070752 B-2 0.00000000 1.~~10062271~~15070644 ~~992~~983.~~48995814~~45906855 0.~~99248996~~98345907 1.~~10062271~~15070644 B-3 0.00000000 1.~~10061871~~15070504 ~~992~~983.~~48995683~~45907194 0.~~99248996~~98345907 1.~~10061871~~15070504 B-4 0.00000000 1.~~10061871~~15070504 ~~992~~983.~~48995683~~45906475 0.~~99248996~~98345906 1.~~10061871~~15070504 B-5 0.00000000 1.~~10061420~~15071017 ~~992~~983.~~48996161~~45907869 0.~~99248996~~98345908 1.~~10061420~~15071017 B-6 0.00000000 1.~~10062220~~15061063 ~~992~~983.~~48994985~~45916198 0.~~99248995~~98345916 1.~~10062220~~15061063 (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 4,750,000.00 4.75000% 0.00 0.00 0.00 0.00 A-2 13,250,000.00 1.~~61875~~95000% 96,~~549~~563,~~871~~161.3174 1210,~~882~~665.3814 0.00 0.00 A-3 0.00 0.75000% 5135,~~134~~142,~~935~~552.8654 3121,~~959~~964.3310 0.00 0.00 A-4 0.00 6.~~38125~~05000% 96,~~549~~563,~~871~~161.3174 5033,~~783~~089.4327 0.00 0.00 A-5 110,364,000.00 4.75000% 8257,~~967~~019,~~840~~758.4749 ~~328~~225,~~414~~703.3721 0.00 0.00 A-6 23,373,000.00 5.50000% 2015,~~972~~569,~~961~~786.8974 9671,~~126~~361.0852 0.00 0.00 A-7 70,775,143.00 5.00000% 70,775,143.00 294,896.43 0.00 0.00 A-8 11,795,857.00 12.~~68875~~02000% 11,795,857.00 1619,~~600~~856.2136 0.00 0.00 A-9 0.00 6.~~81125~~48000% 11,795,857.00 6663,~~953~~697.7863 0.00 0.00 A-10 50,000,000.00 5.50000% 312,~~710~~032,~~781~~433.7565 ~~145~~9,~~341~~315.0832 0.00 0.00 A-11 13,375,000.00 5.45000% 13,375,000.00 60,744.79 0.00 0.00 A-12 15,655,750.00 2.~~32000~~56000% 0.00 0.00 0.00 0.00 A-13 7,116,250.00 1211.~~49600~~96800% 0.00 0.00 0.00 0.00 A-14 0.00 0.25000% 15,700,000.00 3,270.83 0.00 0.00 A-15 15,700,000.00 5.25000% 15,700,000.00 68,687.50 0.00 0.00 PO 699,845.00 0.00000% ~~648~~561,~~296~~148.7868 0.00 0.00 0.00 X 0.00 0.~~24838~~22546% ~~268~~203,~~025~~826,~~587~~948.6840 5538,~~476~~296.0723 0.00 0.00 R-I 50.00 5.50000% 0.00 0.00 0.00 0.00 R-II 50.00 5.50000% 0.00 0.00 0.00 0.00 B-1 5,385,000.00 5.50000% 5,~~350~~302,~~485~~123.2666 24,~~523~~301.0640 0.00 0.00 B-2 1,911,000.00 5.50000% 1,~~898~~881,~~751~~589.5929 8,~~702~~623.6195 0.00 0.00 B-3 1,390,000.00 5.50000% 1,~~381~~368,~~090~~607.9059 6,~~330~~272.0078 0.00 0.00 B-4 695,000.00 5.50000% ~~690~~684,~~545~~303.4580 3,~~165~~136.0039 0.00 0.00 B-5 521,000.00 5.50000% ~~517~~512,~~660~~981.69 2,~~372~~351.6117 0.00 0.00 B-6 695,761.00 5.50000% ~~691~~685,~~301~~053.5708 3,~~168~~139.4783 0.00 0.00 Totals 347,452,706.00 1969,~~280,398~~373.0385 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 0.00 0.00 0.00 A-2 0.00 0.00 1210,~~882~~665.3814 0.00 96,~~388~~468,~~109~~462.9854 A-3 0.00 0.00 3121,~~959~~964.3310 0.00 5034,~~268~~635,~~782~~484.2522 A-4 0.00 0.00 5033,~~783~~089.4328 0.00 96,~~388~~468,~~109~~462.9854 A-5 (0.0001) 0.00 ~~328~~225,~~414~~703.3722 0.00 8156,~~562~~197,~~482~~026.4118 A-6 0.00 0.00 9671,~~126~~361.0853 0.00 2014,~~433~~724,~~211~~128.3373 A-7 (0.0002) 0.00 294,896.4345 0.00 70,775,143.00 A-8 0.00 0.00 1619,~~600~~856.2136 0.00 11,795,857.00 A-9 0.00 0.00 6663,~~953~~697.7863 0.00 11,795,857.00 A-10 0.00 0.00 ~~145~~9,~~341~~315.0832 0.00 301,~~350~~765,~~503~~766.5657 A-11 0.00 0.00 60,744.7980 0.00 13,375,000.00 A-12 0.00 0.00 0.00 0.00 0.00 A-13 0.00 0.00 0.00 0.00 0.00 A-14 0.00 0.00 3,270.83 0.00 15,700,000.00 A-15 0.00 0.00 68,687.50 0.00 15,700,000.00 PO 0.00 0.00 0.00 0.00 ~~647~~560,~~094~~110.5669 X 0.00 0.00 5538,~~476~~296.0723 0.00 ~~264~~201,~~545~~783,~~573~~958.2096 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 24,~~523~~301.0640 0.00 5,~~344~~295,~~558~~927.4210 B-2 0.00 0.00 8,~~702~~623.6195 0.00 1,~~896~~879,~~648~~390.3128 B-3 0.00 0.00 6,~~330~~272.0079 0.00 1,~~379~~367,~~561~~008.0411 B-4 0.00 0.00 3,~~165~~136.0039 0.00 ~~689~~683,~~780~~504.5205 B-5 0.00 0.00 2,~~372~~351.6117 0.00 ~~517~~512,~~087~~382.2718 B-6 0.00 0.00 3,~~168~~139.4783 0.00 ~~690~~684,~~535~~252.8053 Totals (0.0003) 0.00 1969,~~280,398~~373.0392 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 4,750,000.00 4.75000% 0.00000000 0.00000000 0.00000000 0.00000000 A-2 13,250,000.00 1.~~61875~~95000% ~~720~~495.~~74500453~~33296151 0.~~97225509~~80491623 0.00000000 0.00000000 A-3 0.00 0.75000% ~~720~~495.~~74500475~~33296114 0.~~45046556~~30958317 0.00000000 0.00000000 A-4 0.00 6.~~38125~~05000% ~~720~~495.~~74500453~~33296151 32.~~83271170~~49730340 0.00000000 0.00000000 A-5 110,364,000.00 4.75000% ~~751~~516.~~76543502~~65179307 2.~~97573819~~04508001 0.00000000 0.00000000 A-6 23,373,000.00 5.50000% ~~897~~666.~~31578702~~14412955 43.~~11269756~~05316048 0.00000000 0.00000000 A-7 70,775,143.00 5.00000% 1000.00000000 4.16666668 0.00000000 0.00000000 A-8 11,795,857.00 12.~~68875~~02000% 1000.00000000 1.~~40729156~~68333339 0.00000000 0.00000000 A-9 0.00 6.~~81125~~48000% 1000.00000000 5.~~67604202~~40000019 0.00000000 0.00000000 A-10 50,000,000.00 5.50000% ~~634~~40.~~21563500~~64867300 20.~~90682160~~18630640 0.00000000 0.00000000 A-11 13,375,000.00 5.45000% 1000.00000000 4.54166654 0.00000000 0.00000000 A-12 15,655,750.00 2.~~32000~~56000% 0.00000000 0.00000000 0.00000000 0.00000000 A-13 7,116,250.00 1211.~~49600~~96800% 0.00000000 0.00000000 0.00000000 0.00000000 A-14 0.00 0.25000% 1000.00000000 0.20833312 0.00000000 0.00000000 A-15 15,700,000.00 5.25000% 1000.00000000 4.37500000 0.00000000 0.00000000 PO 699,845.00 0.00000% ~~926~~801.~~34337603~~81851696 0.00000000 0.00000000 0.00000000 X 0.00 0.~~24838~~22546% ~~771~~586.~~40164129~~63220887 0.~~15966510~~11021998 0.00000000 0.00000000 R-I 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,385,000.00 5.50000% ~~993~~984.~~59057753~~60977902 4.~~55395729~~51279480 0.00000000 0.00000000 B-2 1,911,000.00 5.50000% ~~993~~984.~~59057561~~60978022 4.~~55395604~~51279435 0.00000000 0.00000000 B-3 1,390,000.00 5.50000% ~~993~~984.~~59057554~~60977698 4.~~55395683~~51279137 0.00000000 0.00000000 B-4 695,000.00 5.50000% ~~993~~984.~~59057554~~60978417 4.~~55395683~~51279137 0.00000000 0.00000000 B-5 521,000.00 5.50000% ~~993~~984.~~59057582~~60976967 4.~~55395393~~51280230 0.00000000 0.00000000 B-6 695,761.00 5.50000% ~~993~~984.~~59057205~~60977261 4.~~55396321~~51279965 0.00000000 0.00000000 (5) Per $1 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 0.00000000 0.00000000 0.00000000 A-2 0.00000000 0.00000000 0.~~97225509~~80491623 0.00000000 ~~708~~488.~~53660226~~18585208 A-3 0.00000000 0.00000000 0.~~45046556~~30958317 0.00000000 ~~708~~488.~~53660207~~18585217 A-4 0.00000000 0.00000000 32.~~83271170~~49730415 0.00000000 ~~708~~488.~~53660226~~18585208 A-5 (0.~~00000000~~00000009) 0.00000000 2.~~97573819~~04508010 0.00000000 ~~739~~509.~~03159010~~19707676 A-6 0.00000000 0.00000000 43.~~11269756~~05316091 0.00000000 ~~874~~629.~~22287811~~96315107 A-7 (0.~~00000000~~00000028) 0.00000000 4.~~16666668~~16666696 0.00000000 1000.00000000 A-8 0.00000000 0.00000000 1.~~40729156~~68333339 0.00000000 1000.00000000 A-9 0.00000000 0.00000000 5.~~67604202~~40000019 0.00000000 1000.00000000 A-10 0.00000000 0.00000000 20.~~90682160~~18630640 0.00000000 ~~607~~35.~~01007120~~31533140 A-11 0.00000000 0.00000000 4.~~54166654~~54166729 0.00000000 1000.00000000 A-12 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-13 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-14 0.00000000 0.00000000 0.20833312 0.00000000 1000.00000000 A-15 0.00000000 0.00000000 4.37500000 0.00000000 1000.00000000 PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~924~~800.~~62553851~~33534568 X 0.00000000 0.00000000 0.~~15966510~~11021998 0.00000000 ~~761~~580.~~38584801~~75230233 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 4.~~55395729~~51279480 0.00000000 ~~992~~983.~~48995729~~45907149 B-2 0.00000000 0.00000000 4.~~55395604~~51279435 0.00000000 ~~992~~983.~~48995814~~45906855 B-3 0.00000000 0.00000000 4.~~55395683~~51279856 0.00000000 ~~992~~983.~~48995683~~45907194 B-4 0.00000000 0.00000000 4.~~55395683~~51279137 0.00000000 ~~992~~983.~~48995683~~45906475 B-5 0.00000000 0.00000000 4.~~55395393~~51280230 0.00000000 ~~992~~983.~~48996161~~45907869 B-6 0.00000000 0.00000000 4.~~55396321~~51279965 0.00000000 ~~992~~983.~~48994985~~45916198 (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 43,~~819~~058,~~704~~759.3642 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 64,~~390~~408.1005 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 43,~~826~~063,~~094~~167.4647 Withdrawals Reimbursement for Servicer Advances 76,~~609~~084.7331 Payment of Service Fee 5844,~~072~~719.2181 Payment of Interest and Principal 43,~~760~~012,~~412~~363.5235 Total Withdrawals (Pool Distribution Amount) 43,~~826~~063,~~094~~167.4647 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 5542,~~838~~463.6796 Master Servicing Fee 21,~~233~~698.5456 MBIA Premium Amount 557.29 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 5844,~~072~~719.2181

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2 0 0 0 2 ~~574~~733,~~447~~964.5474 0.00 0.00 0.00 ~~574~~733,~~447~~964.5474 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 10 0 0 0 10 ~~475,452~~0.7300 0.00 0.00 0.00 ~~475,452~~0.7300 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 32 0 0 0 32 1733,~~049,900~~964.2774 0.00 0.00 0.00 1733,~~049,900~~964.2774 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~344828~~447427% 0.000000% 0.000000% 0.000000% 0.~~344828~~447427% 0.~~216938~~363424% 0.000000% 0.000000% 0.000000% 0.~~216938~~363424% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.~~172414~~000000% 0.000000% 0.000000% 0.000000% 0.~~172414~~000000% 0.~~179553~~000000% 0.000000% 0.000000% 0.000000% 0.~~179553~~000000% 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 0.~~517241~~447427% 0.000000% 0.000000% 0.000000% 0.~~517241~~447427% 0.~~396491~~363424% 0.000000% 0.000000% 0.000000% 0.~~396491~~363424%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 64,~~390~~408.1005

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 11,297,706.00 3.25158095% 1110,~~165~~982,~~265~~574.9294 45.~~22054536~~44273935% 9694.~~014311~~820463% 100.000000% Class R-I 11,297,656.00 3.25156656% 1110,~~165~~982,~~265~~574.9294 45.~~22054536~~44273935% 0.000000% 0.000000% Class R-II 11,297,606.00 3.25155217% 1110,~~165~~982,~~265~~574.9294 45.~~22054536~~44273935% 0.000000% 0.000000% Class X 10,597,761.00 3.05013051% 10,~~518~~422,~~171~~464.3625 35.~~97593928~~16515996% 0.000000% 0.000000% Class B-1 5,212,761.00 1.50027929% 5,~~173~~126,~~612~~537.9415 12.~~95566037~~54060688% 2.~~025233~~631859% 0.000000% Class B-2 3,301,761.00 0.95027638% 3,~~276~~247,~~964~~146.6387 1.~~23871460~~60921953% 0.~~718704~~933980% 0.000000% Class B-3 1,911,761.00 0.55022193% 1,~~897~~880,~~403~~138.5976 0.~~71723128~~93175829% 0.~~522762~~679347% 0.000000% Class B-4 1,216,761.00 0.35019471% 1,~~207~~196,~~623~~634.0771 0.~~45648962~~59302767% 0.~~261381~~339673% 0.000000% Class B-5 695,761.00 0.20024625% ~~690~~684,~~535~~252.8053 0.~~26102716~~33910155% 0.~~195942~~254633% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~261667~~340045% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 5.~~995073~~970321% Weighted Average Pass-Through Rate 5.~~735073~~710321% Weighted Average Maturity(Stepdown Calculation ) ~~348~~340 Beginning Scheduled Collateral Loan Count ~~587~~452 Number Of Loans Paid In Full 75 Ending Scheduled Collateral Loan Count ~~580~~447 Beginning Scheduled Collateral Balance ~~268~~203,~~025~~826,~~587~~948.7850 Ending Scheduled Collateral Balance ~~264~~201,~~545~~783,~~573~~959.3000 Ending Actual Collateral Balance at 3031-~~Nov~~Jul-~~2003~~2004 ~~264~~201,~~797~~958,~~948~~448.1663 Monthly P &I Constant 1,~~636~~252,~~382~~631.2387 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 42,~~699~~951,~~284~~304.4391 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~264~~201,~~545~~783,~~573~~959.3000 Scheduled Principal ~~297~~238,~~354~~538.6924 Unscheduled Principal 31,~~182~~804,~~659~~451.7926

Miscellaneous Reporting Average Loss Severity 0.00 ~~MBIA Premium Amount 557.29~~ Senior Prepayment Percentage 100.000000% Senior Percentage 9694.~~061806~~866502% Subordinate Percentage 35.~~938194~~133498% Subordinate Prepayment Percentage 0.000000%

Filing Compare · PRIME MORTGAGE TRUST 2003-1