8-K 1 eq12003-4nov8k.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 - November 25, 2003 ---------------------------------- (Date of Earliest Event Reported) EQUITY ONE ABS, INC. ---------------------------------------------------------------------- (as depositor under a certain Pooling and Servicing Agreement dated as of September 30, 2003, providing for the issuance of Mortgage Pass-Through Certificates, Series 2003-4) (Exact Name of Registrant as specified in its charter) Delaware 333-104580-02 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, AF-5, AF-6, AV-1, AV-2, M-1, M-2, M-3, M-4, B-1 and B-2 Certificateholders with respect to the November 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, Executive Vice President and CFO Dated: November 26, 2003 3 ANNEX A Page 1 of 7 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-4 Statement to Certificateholders November 25, 2003 --------------------------------------------------------------------------------

-------------------------------------------------------------------------------- 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) 623-4484 / Fax: (212) 623-5930 Email: /JPMCHASE@CHASE -------------------------------------------------------------------------------- JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 2 of 7 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-4 November 25, 2003 -------------------------------------------------------------------------------- Sec. 4.03(a)(i) Funds Allocable to Certificate Principal Group I Scheduled Principal 645,503.56 Group I Curtailments 47,812.94 Group I Prepayments 3,070,407.25 Group I Repurchases 0.00 Group I Liquidation Proceeds 0.00 Group II-A Scheduled Principal 240,759.03 Group II-A Curtailments 13,427.07 Group II-A Prepayments 1,362,166.41 Group II-A Repurchases 0.00 Group II-A Liquidation Proceeds 0.00 Group II-B Scheduled Principal 43,347.02 Group II-B Curtailments 1,147.90 Group II-B Prepayments 348,218.10 Group II-B Repurchases 0.00 Group II-B Liquidation Proceeds 0.00 Extra Principal Distribution Amount 3,234,657.38 Sec. 4.03 (a)(ii) Interest Distribution Amounts Interest Distribution - AF-1 202,379.79 Unpaid Interest - AF-1 0.00 Remaining Unpaid Interest - AF-1 0.00 Interest Distribution - AF-2 147,864.58 Unpaid Interest - AF-2 0.00 Remaining Unpaid Interest - AF-2 0.00 Interest Distribution - AF-3 274,947.20 Unpaid Interest - AF-3 0.00 Remaining Unpaid Interest - AF-3 0.00 Interest Distribution - AF-4 145,638.00 Unpaid Interest - AF-4 0.00 Remaining Unpaid Interest - AF-4 0.00 Interest Distribution - AF-5 77,974.27 Unpaid Interest - AF-5 0.00 Remaining Unpaid Interest - AF-5 0.00 Interest Distribution - AF-6 196,461.45 Unpaid Interest - AF-6 0.00 Remaining Unpaid Interest - AF-6 0.00 Interest Distribution - AV-1 302,083.33 JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 3 of 7 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-4 November 25, 2003 -------------------------------------------------------------------------------- Unpaid Interest - AV-1 0.00 Remaining Unpaid Interest - AV-1 0.00 Interest Distribution - AV-2 55,480.47 Unpaid Interest - AV-2 0.00 Remaining Unpaid Interest - AV-2 0.00 Interest Distribution - M-1 291,438.27 Unpaid Interest - M-1 0.00 Remaining Unpaid Interest - M-1 0.00 Interest Distribution - M-2 239,234.69 Unpaid Interest - M-2 0.00 Remaining Unpaid Interest - M-2 0.00 Interest Distribution - M-3 78,654.94 Unpaid Interest - M-3 0.00 Remaining Unpaid Interest - M-3 0.00 Interest Distribution - M-4 66,805.33 Unpaid Interest - M-4 0.00 Remaining Unpaid Interest - M-4 0.00 Interest Distribution - B-1 26,931.44 Unpaid Interest - B-1 0.00 Remaining Unpaid Interest - B-1 0.00 Interest Distribution - B-2 40,845.42 Unpaid Interest - B-2 0.00 Remaining Unpaid Interest - B-2 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 AF-5 Available Funds Shortfall 0.00 Class AF-6 Available Funds Shortfall 0.00 Class AV-1 Available Funds Shortfall 0.00 Class AV-2 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 M-4 Available Funds Shortfall 0.00 Class B-1 Available Funds Shortfall 0.00 Class B-2 Available Funds Shortfall 0.00 Sec. 4.03(a)(v) Pool Principal Balances Copyright JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 4 of 7 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-4 November 25, 2003 -------------------------------------------------------------------------------- Group I Beginning Pool Balance 648,134,611.86 Group I Ending Pool Balance 644,370,888.11 Group II-A Beginning Pool Balance 300,000,893.40 Group II-A Ending Pool Balance 298,384,540.89 Group II-B Beginning Pool Balance 53,981,098.00 Group II-B Ending Pool Balance 53,588,384.98 Total Beginning Pool Balance 1,002,116,603.26 Total Ending Pool Balance 996,343,813.98 Sec. 4.03(a)(vi) Servicing Fee Group I Servicing Fee 270,056.09 Group II-A Servicing Fee 125,000.37 Group II-B Servicing Fee 22,492.12 Sec. 4.03(a)(viii) Delinquency Advances Group I Delinquency Advances Included in Current Distribution 96,647.99 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 96,647.99 Group II-A Delinquency Advances Included in Current Distribution 100,489.50 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 100,489.50 Group II-B Delinquency Advances Included in Current Distribution 5,161.12 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 5,161.12 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 212 50,848,107.25 7.89 % 31-60 days 22 2,677,424.20 0.42 % 61-90 days 4 265,977.29 0.04 % 91+days 0 0.00 0.00 % Total 238 53,791,508.74 8.35 % -------------------------------------------------------- -------------------------------------------------------- Group 2 -------------------------------------------------------- Period Number Principal Balance Percentage 0-30 days 91 21,545,156.26 7.22 % 31-60 days 15 1,721,666.75 0.58 % 61-90 days 1 301,404.13 0.10 % 91+days 0 0.00 0.00 % Total 107 23,568,227.14 7.90 % -------------------------------------------------------- JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 5 of 7 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-4 November 25, 2003 -------------------------------------------------------------------------------- -------------------------------------------------------- Group 3 -------------------------------------------------------- Period Number Principal Balance Percentage 0-30 days 23 4,471,858.67 8.34 % 31-60 days 3 320,106.99 0.60 % 61-90 days 0 0.00 0.00 % 91+days 0 0.00 0.00 % Total 26 4,791,965.66 8.94 % Sec. 4.03 (a)(ix) B Group I,Group II-A, and Group II-B Loans in Foreclosure -------------------------------------------------------- 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 % -------------------------------------------------------- Sec. 4.03(a)(x),(xi) Group I,Group II-A, and Group II-B Loans in REO -------------------------------------------------------- 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 1,490,684.63 Group II-A Three Largest Loans 1,188,769.80 Group II-B Three Largest Loans 1,485,466.27 Sec. 4.03(a)(xiii) Net WAC Cap Carryover JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 6 of 7 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-4 November 25, 2003 -------------------------------------------------------------------------------- Class AV-1 Net WAC Cap Carryover Amounts Due 0.00 Class AV-1 Net WAC Cap Carryover Amounts Paid 0.00 Class AV-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Due 0.00 Class AV-2 Net WAC Cap Carryover Amounts Paid 0.00 Class AV-2 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Due 0.00 Class B-1 Net WAC Cap Carryover Amounts Paid 0.00 Class B-1 Net WAC Cap Carryover Remaining Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Due 0.00 Class B-2 Net WAC Cap Carryover Amounts Paid 0.00 Class B-2 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 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 Excess Reserve Fund Beginning Balance of Excess Reserve Fund 0.00 Funds Withdrawn From Excess Reserve Fund For Distribution 0.00 Funds Deposited to Excess Reserve Fund 0.00 Ending Balance of Excess 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 JPMORGAN Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved. [LOGO] Page 7 of 7 -------------------------------------------------------------------------------- Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2003-4 November 25, 2003 -------------------------------------------------------------------------------- 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 7.29 % Group II-A Weighted Average Mortgage Rate 7.27 % Group II-B Weighted Average Mortgage Rate 7.26 % Sec. 4.03 (a)(xix) Weighted Average Remaining Term of Outstanding Loans Group I Weighted Average Remaining Term 325.00 Group II-A Weighted Average Remaining Term 357.00 Group II-B Weighted Average Remaining Term 357.00 Sec. 4.03 (a)(xxi), Overcollateralization Amounts (xxii),(xxiii) Overcollateralization Amount 3,235,260.64 Overcollateralization Target Amount 34,573,022.81 Overcollateralization Release Amount 0.00 Overcollateralization Deficiency Amount 31,337,762.17 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 16.09 % Senior Specified Enhancement Percentage 38.90 % Sec. 4.03 (a)(xxv) 60+ Day Delinquent Loans 60+ Day Delinquent Loans as a percentage of the current Pool Balance 0.06 % 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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