8-K 1 eq12003-3sep8k.txt FORM 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 - September 25, 2003 (Date of Earliest Event Reported) EQUITY ONE ABS, INC. ------------------------------------------------------ --------------------- (as depositor under a certain Pooling and Servicing Agreement dated as of June 30, 2003, providing for the issuance of Mortgage Pass-Through Certificates, Series 2003-3) (Exact Name of Registrant as specified in its charter) Delaware 333-104580-01 52-2029487 ------------------------ --------------------- ----------------------- (State of Incorporation) (Commission File No.) (IRS Employer I.D. No.) 103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803 ----------------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (302) 478-6160 Item 5. Other Events. --------------------- Attached hereto as Annex A is a copy of the Statement to Certificateholders sent to Class AF-1, AF-2, AF-3, AF-4, AV-1, AV-2, M-1, M-2, M-3 and B Certificateholders with respect to the September 25, 2003 Distribution Date. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EQUITY ONE ABS, INC. By:/s/ James H. Jenkins --------------------------------------------- James H. Jenkins, Senior Vice President and CFO Dated: September 29, 2003 3 ANNEX A Page 1 of 6 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-3 Statement to Certificateholders September 25, 2003 --------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS -------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE -------------------------------------------------------------------------------------------------------------------- AF1 117,000,000.00 ~~117~~113,~~000~~374,~~000~~494.0090 32,~~625~~173,~~505~~867.1056 99120,~~125~~082.0049 32,~~724~~293,~~630~~950.1005 0.00 0.00 ~~113~~111,~~374~~200,~~494~~627.9034 AF2 92,000,000.00 92,000,000.00 0.00 210,373.33 210,373.33 0.00 0.00 92,000,000.00 AF3 10,000,000.00 10,000,000.00 0.00 32,383.33 32,383.33 0.00 0.00 10,000,000.00 AF4 62,227,000.00 62,227,000.00 0.00 259,019.89 259,019.89 0.00 0.00 62,227,000.00 AV1 202,579,000.00 ~~202~~201,~~579~~424,~~000~~352.0017 12,~~154~~678,~~647~~568.8311 ~~196~~244,~~951~~562.8173 12,~~351~~923,~~599~~130.6484 0.00 0.00 ~~201~~198,~~424~~745,~~352~~784.1706 AV2 59,671,000.00 5956,~~671~~077,~~000~~713.00 34,593,~~287~~896.0089 5059,~~554~~395.6064 34,~~643~~653,~~841~~292.6053 0.00 0.00 5651,~~077~~483,~~713~~816.0011 M1 40,437,000.00 40,437,000.00 0.00 164,039.43 164,039.43 0.00 0.00 40,437,000.00 M2 33,967,000.00 33,967,000.00 0.00 154,521.54 154,521.54 0.00 0.00 33,967,000.00 M3 19,410,000.00 19,410,000.00 0.00 101,109.93 101,109.93 0.00 0.00 19,410,000.00 B 9,705,000.00 9,705,000.00 0.00 2532,~~947~~258.4034 2532,~~947~~258.4034 0.00 0.00 9,705,000.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------------------------------------------------------------------------------------------------------------- TOTALS 646,996,000.00 ~~646~~638,~~996~~622,~~000~~560.0007 89,~~373~~446,~~439~~332.9356 1,~~294~~377,~~026~~746.2665 910,~~667~~824,~~466~~079.1921 0.00 0.00 ~~638~~629,~~622~~176,~~560~~227.0751 -------------------------------------------------------------------------------------------------------------------- X 646,996,902.33 ~~646~~641,~~996~~098,~~902~~752.3399 0.00 05.1982 05.1982 0.00 0.00 ~~641~~634,~~098~~008,~~752~~801.9982 --------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------- ---------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES -------------------------------------------------------------------------------------------- ---------------------- CURRENT BEGINNING ENDING RATE CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU -------------------------------------------------------------------------------------------- ---------------------- AF1 294751CM2 ~~1,000~~969.~~00000000~~01277692 3018.~~98722308~~58006462 01.~~84722222~~02634607 3119.~~83444530~~60641068 ~~969~~950.~~01277692~~43271231 AF1 1.~~220000~~230000 % AF2 294751CN0 1,000.00000000 0.00000000 2.28666663 2.28666663 1,000.00000000 AF2 2.744000 % AF3 294751CP5 1,000.00000000 0.00000000 3.23833300 3.23833300 1,000.00000000 AF3 3.886000 % AF4 294751CQ3 1,000.00000000 0.00000000 4.16250004 4.16250004 1,000.00000000 AF4 4.995000 % AV1 294751CR1 ~~1,000~~994.~~00000000~~30025901 513.~~69974099~~22233850 01.~~97222224~~20724621 614.~~67196323~~42958471 ~~994~~981.~~30025901~~07792051 AV1 1.~~400000~~410000 % AV2 294751CS9 ~~1,000~~939.~~00000000~~78168625 6076.~~21831375~~98709407 0.~~84722227~~99538536 6177.~~06553602~~98247943 ~~939~~862.~~78168625~~79459218 AV2 1.~~220000~~230000 % M1 294751CT7 1,000.00000000 0.00000000 4.05666667 4.05666667 1,000.00000000 M1 4.868000 % M2 294751CU4 1,000.00000000 0.00000000 4.54916654 4.54916654 1,000.00000000 M2 5.459000 % M3 294751CV2 1,000.00000000 0.00000000 5.20916692 5.20916692 1,000.00000000 M3 6.251000 % B 294751CW0 1,000.00000000 0.00000000 23.~~67361154~~32388872 23.~~67361154~~32388872 1,000.00000000 B 3.~~850000~~860000 % -------------------------------------------------------------------------------------------- ---------------------- TOTALS ~~1,000~~987.~~00000000~~05797265 1214.~~94202735~~60029515 2.~~00005295~~12945157 1416.~~94208031~~72974672 ~~987~~972.~~05797265~~45767750 X 0.000000 % -------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------- ---------------------- X N/A ~~1,000~~990.~~00000000~~88380591 0.00000000 0.~~00000029~~00000900 0.~~00000029~~00000900 ~~990~~979.~~88380591~~92555998 ~~X 0.000000 %~~ -------------------------------------------------------------------------------------------- ----------------------

-------------------------------------------------------------------------------- IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: RYAN VAUGHN JPMorgan Chase Bank - Structured Finance Services ny 4 NEW YORK PLAZA FLR 6, New York, New York 10004 Tel: (212) 623-4483 / Fax: (212) 623-5930 Email: /JPMCHASE@CHASE -------------------------------------------------------------------------------- JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 2 of 6 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-3 September 25, 2003 -------------------------------------------------------------------------------- Sec. 4.03(a)(i) Funds Allocable to Certificate Principal Group I Scheduled Principal 266,730.70 Group I Curtailments 38,880.10 Group I Prepayments 1,325,986.94 Group I Liquidation Proceeds 0.00 Group II-A Scheduled Principal 153,714.08 Group II-A Curtailments 4,471.61 Group II-A Prepayments 1,852,215.38 Group II-A Liquidation Proceeds 0.00 Group II-B Scheduled Principal 150,542.21 Group II-B Curtailments 10,128.59 Group II-B Prepayments 3,287,281.56 Group II-B Liquidation Proceeds 0.00 Extra Principal Distribution Amount 2,356,381.39 Sec. 4.03 (a)(ii) Interest Distribution Amounts Interest Distribution - AF-1 120,082.49 Unpaid Interest - AF-1 0.00 Remaining Unpaid Interest - AF-1 0.00 Interest Distribution - AF-2 210,373.33 Unpaid Interest - AF-2 0.00 Remaining Unpaid Interest - AF-2 0.00 Interest Distribution - AF-3 32,383.33 Unpaid Interest - AF-3 0.00 Remaining Unpaid Interest - AF-3 0.00 Interest Distribution - AF-4 259,019.89 Unpaid Interest - AF-4 0.00 Remaining Unpaid Interest - AF-4 0.00 Interest Distribution - AV-1A 244,562.73 Unpaid Interest - AV-1A 0.00 Remaining Unpaid Interest - AV-1A 0.00 Interest Distribution - AV-1B 59,395.64 Unpaid Interest - AV-1B 0.00 Remaining Unpaid Interest - AV-1B 0.00 Interest Distribution - M-1 164,039.43 Unpaid Interest - M-1 0.00 Remaining Unpaid Interest - M-1 0.00 JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 3 of 6 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-3 September 25, 2003 -------------------------------------------------------------------------------- Interest Distribution - M-2 154,521.54 Unpaid Interest - M-2 0.00 Remaining Unpaid Interest - M-2 0.00 Interest Distribution - M-3 101,109.93 Unpaid Interest - M-2 0.00 Remaining Unpaid Interest - M-3 0.00 Interest Distribution - B 32,258.34 Unpaid Interest - B 0.00 Remaining Unpaid Interest - B 0.00 Sec. 4.03(a)(iii) Available Funds Shortfall Class AF-1 Available Funds Shortfall 0.00 Class AF-2 Available Funds Shortfall 0.00 Class AF-3 Available Funds Shortfall 0.00 Class AF-4 Available Funds Shortfall 0.00 Class AV-1A Available Funds Shortfall 0.00 Class AV-1B Available Funds Shortfall 0.00 Class M-1 Available Funds Shortfall 0.00 Class M-2 Available Funds Shortfall 0.00 Class M-3 Available Funds Shortfall 0.00 Class B Available Funds Shortfall 0.00 Sec. 4.03(a)(v) Pool Principal Balances Group I-A Beginning Pool Balance 278,673,973.34 Group I-A Ending Pool Balance 277,042,375.60 Group I-B Beginning Pool Balance 201,765,816.26 Group I-B Ending Pool Balance 199,755,415.19 Group II Beginning Pool Balance 160,658,963.39 Group II Ending Pool Balance 157,211,011.03 Total Beginning Pool Balance 641,098,752.99 Total Ending Pool Balance 634,008,801.82 Sec. 4.03(a)(vi) Servicing Fee Group I Servicing Fee 116,114.16 Group II-A Servicing Fee 84,069.09 Group II-B Servicing Fee 66,941.23 Sec. 4.03(a)(viii) Delinquency Advances Group I Delinquency Advances Included in Current Distribution 80,169.12 Group I Recouped Advances Included in Current Distribution 0.00 Group I Recouped Advances From Liquidations 0.00 Group I Aggregate Amount of Advances Outstanding 104,215.76 Group II-A Delinquency Advances Included in Current Distribution 41,907.01 JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 4 of 6 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-3 September 25, 2003 -------------------------------------------------------------------------------- Group II-A Recouped Advances Included in Current Distribution 0.00 Group II-A Recouped Advances From Liquidations 0.00 Group II-A Aggregate Amount of Advances Outstanding 101,345.57 Group II-B Delinquency Advances Included in Current Distribution 39,946.15 Group II-B Recouped Advances Included in Current Distribution 0.00 Group II-B Recouped Advances From Liquidations 0.00 Group II-B Aggregate Amount of Advances Outstanding 49,972.14 Section 4.03(a)(ix) A Group I,Group II-A, and Group II-B Loans Delinquent -------------------------------------------------------- Group 1 -------------------------------------------------------- Period Number Principal Balance Percentage 0-30 days 228 24,455,806.18 8.83 % 31-60 days 25 1,790,509.42 0.65 % 61-90 days 4 429,184.27 0.15 % 91+days 0 0.00 0.00 % Total 257 26,675,499.87 9.63 % -------------------------------------------------------- -------------------------------------------------------- Group 2 -------------------------------------------------------- Period Number Principal Balance Percentage 0-30 days 136 16,323,254.37 8.17 % 31-60 days 10 1,018,265.61 0.51 % 61-90 days 4 485,644.76 0.24 % 91+days 1 177,180.79 0.09 % Total 151 18,004,345.53 9.01 % -------------------------------------------------------- -------------------------------------------------------- Group 3 -------------------------------------------------------- Period Number Principal Balance Percentage 0-30 days 80 13,865,852.59 8.82 % 31-60 days 6 880,358.29 0.56 % 61-90 days 2 497,885.63 0.32 % 91+days 0 0.00 0.00 % Total 88 15,244,096.51 9.70 % -------------------------------------------------------- Sec. 4.03 (a)(ix) B Group I,Group II-A, and Group II-B Loans in Foreclosure -------------------------------------------------------- Group 1 -------------------------------------------------------- Number Principal Balance Percentage 7 682,711.79 0.25 % -------------------------------------------------------- -------------------------------------------------------- Group 2 -------------------------------------------------------- Number Principal Balance Percentage 5 452,164.60 0.23 % -------------------------------------------------------- -------------------------------------------------------- Group 3 -------------------------------------------------------- Number Principal Balance Percentage 1 38,228.67 0.02 % -------------------------------------------------------- Sec. 4.03(a)(x),(xi) Group I,Group II-A, and Group II-B Loans in REO JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 5 of 6 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-3 September 25, 2003 -------------------------------------------------------------------------------- -------------------------------------------------------- Group 1 -------------------------------------------------------- Number Principal Balance Percentage 0 0.00 0.00 % -------------------------------------------------------- -------------------------------------------------------- Group 2 -------------------------------------------------------- Number Principal Balance Percentage 0 0.00 0.00 % -------------------------------------------------------- -------------------------------------------------------- Group 3 -------------------------------------------------------- Number Principal Balance Percentage 0 0.00 0.00 % -------------------------------------------------------- Market Value of Group I REO Loans 0.00 Market Value of Group II-A REO Loans 0.00 Market Value of Group II-B REO Loans 0.00 Sec. 4.03(a)(xii) Aggregate Stated Principal Balance of the Three Largest Loans Group I Three Largest Loans 1,105,552.06 Group II-A Three Largest Loans 1,238,997.05 Group II-B Three Largest Loans 1,494,067.32 Sec. 4.03(a)(xiii) Net WAC Cap Carryover Class AF-1 Net WAC Cap Carryover Amounts Due 0.00 Class AF-1 Net WAC Cap Carryover Amounts Paid 0.00 Class AF-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-1A Net WAC Cap Carryover Amounts Due 0.00 Class AV-1A Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1A Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-1B Net WAC Cap Carryover Amounts Due 0.00 Class AV-1B Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1B Net WAC Cap Carryover Remaining Amounts Due 0.00 Sec. 4.03(a)(xiv) Aggregate Principal Balance of Balloon Loans with Original Terms <= 36 Months and 60+ Contractually Past Due Group I Aggregate Principal Balance of Balloon Loans 0.00 Group II-A Aggregate Principal Balance of Balloon Loans 0.00 Group II-B Aggregate Principal Balance of Balloon Loans 0.00 Sec. 4.03 (a)(xv),(xxii) Realized Losses Group I Current Period Realized Losses 0.00 Group I Cumulative Realized Losses 0.00 Group II-A Current Period Realized Losses 0.00 Group II-A Cumulative Realized Losses 0.00 Group II-B Current Period Realized Losses 0.00 JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 6 of 6 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-3 September 25, 2003 -------------------------------------------------------------------------------- Group II-B Cumulative Realized Losses 0.00 Sec. 4.03 (a)(xvi) Reserve Fund Beginning Balance of Reserve Fund 0.00 Funds Withdrawn From Reserve Fund For Distribution 0.00 Funds Deposited to Reserve Fund 0.00 Ending Balance of Reserve Fund 0.00 Sec. 4.03 (a)(xvii) Number of Loans Repurchased Group I Number of Loans Repurchased 0.00 Group II-A Number of Loans Repurchased 0.00 Group II-B Number of Loans Repurchased 0.00 Sec. 4.03 (a)(xviii) Weighted Average Mortgage Rate of Outstanding Loans (as of first day of related Due Period) Group I Weighted Average Mortgage Rate 7.86 % Group II-A Weighted Average Mortgage Rate 7.60 % Group II-B Weighted Average Mortgage Rate 7.83 % Sec. 4.03 (a)(xix) Weighted Average Remaining Term of Outstanding Loans Group I-AWeighted Average Remaining Term 307.00 Group I-B Weighted Average Remaining Term 356.00 Group II Weighted Average Remaining Term 285.00 Sec. 4.03 (a)(xxi), Overcollateralization Amounts (xxii),(xxiii) Overcollateralization Amount 4,832,574.31 Overcollateralization Target Amount 25,879,876.09 Overcollateralization Release Amount 0.00 Overcollateralization Deficiency Amount 21,047,301.78 Sec. 4.03 (a)(xxiv) Trigger Events Has a Trigger Event Occurred and is continuing? NO Cumulative Realized Losses as a percentage of the Original Pool Balance 0.00 % Senior Enhancement Percentage 16.33 % Senior Specified Enhancement Percentage 40.00 % Sec. 4.03 (a)(xxv) 60+ Day Delinquent Loans 60+ Day Delinquent Loans as a percentage of the current Pool Balance 0.44 % Sec. 4.03 (a)(xxvi) Amount of Funds Collected by Trustee under Yield Maintenance Agreement 0.00 JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO]

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