Sequoia Mortgage Trust 6 Collateralized Mortgage Bonds Payment Report (Redwood Trust, Cendant Mortgage, Morgan Stanley, Greenwich Capital, Bear Stearns)

Contract Categories: Business Finance › Trust Agreements
Summary

This document is a payment report for the Sequoia Mortgage Trust 6 Collateralized Mortgage Bonds, involving Redwood Trust as the seller, Cendant Mortgage Corporation as the servicer, and underwriters including Morgan Stanley Dean Witter, Greenwich Capital Markets, and Bear Stearns. It details the distribution of interest and principal payments to various bond classes as of the September 19, 2003 distribution date. The report outlines payment amounts, outstanding balances, and accruals for each bond class, providing transparency to investors and stakeholders regarding the trust's financial performance.

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EX-10.1 3 f93524aexv10w1.txt EXHIBIT 10.1 . . . EXHIBIT 10.1
CONTACTS - ------------------------------------------------------------------------------------------ Administrator: Kumar X. Khambhaita Direct Phone No: (714) 247-6327 Address: Deutsche Bank 1761 E. St. Andrew Place Santa Ana, CA 92705 Web Site: http://www-apps.gis.deutsche-bank.com/invr Factor Information: (800) 735-7777 Main Phone No: (714) 247-6000 - ------------------------------------------------------------------------------------------
ISSUANCE INFORMATION - ------------------------------------------------------------------------------------------------------------------------------------ Seller: Redwood Trust Cut-Off Date: April 1, 2002 Certificate Insurer: Closing Date: April 26, 2002 Servicer(s): Cendant Mortgage Corporation First Payment Date: May 20, 2002 Morgan Stanley Dean Witter Underwriter(s): Greenwich Capital Markets, Inc. Distribution Date: September 19, 2003 Bear, Stearns & Co. Inc. Record Date: September 18, 2003 August 29, 2003 - ------------------------------------------------------------------------------------------------------------------------------------
SEQUOIA MORTGAGE TRUST 6 COLLATERALIZED MORTGAGE BONDS BOND PAYMENT REPORT FOR SEPTEMBER 19, 2003 DISTRIBUTION
Distribution in Dollars - Current Period - -------------------------------------------------------------------------------------------------------------------------------- Prior Class Original Principal Total Class Type Face Value Balance Interest Principal Distribution - -------------------------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4)=(2)+(3) - -------------------------------------------------------------------------------------------------------------------------------- LT-A 496,378,000.00 423,616,677.52 875,406.79 4,935,256.36 5,810,663.15 LT-A2 100.00 - - - - LT-X 100.00 - - - - LT-B-1 5,915,000.00 5,915,000.00 12,223.39 - 12,223.39 LT-B-2 5,143,000.00 5,143,000.00 10,628.04 - 10,628.04 - -------------------------------------------------------------------------------------------------------------------------------- LT-B-3 2,315,000.00 2,315,000.00 4,783.96 - 4,783.96 LT-B-4 1,534,000.00 1,534,000.00 3,170.02 - 3,170.02 LT-B-5 1,028,000.00 1,028,000.00 2,124.37 - 2,124.37 LT-B-6 2,068,996.83 2,068,996.83 4,275.60 - 4,275.60 LT-R - - - - - - -------------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------------- Total 514,382,196.83 441,620,674.35 912,612.17 4,935,256.36 5,847,868.53 - --------------------------------------------------------------------------------------------------------------------------------
Distribution in Dollars - Current Period - ------------------------------------------------------------------ Current Realized Deferred Principal Class Losses Interest Balance - ------------------------------------------------------------------ (5) (6) (7)=(1)-(3)-(5)+(6) - ------------------------------------------------------------------ LT-A - - 418,681,421.16 LT-A2 - - - LT-X - - - LT-B-1 - - 5,915,000.00 LT-B-2 - - 5,143,000.00 - ------------------------------------------------------------------ LT-B-3 - - 2,315,000.00 LT-B-4 - - 1,534,000.00 LT-B-5 - - 1,028,000.00 LT-B-6 - - 2,068,996.83 LT-R - - - - ------------------------------------------------------------------ - ------------------------------------------------------------------ Total - - 436,685,417.99 - ------------------------------------------------------------------
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face - ------------------------------------------------------------------------------------------------------------------------------- Orig. Principal Prior Period Period (with Notional) Principal Class Starting Ending Method Cusip Balance Balance Interest - ------------------------------------------------------------------------------------------------------------------------------- (1) (2) - ------------------------------------------------------------------------------------------------------------------------------- LT-A A-30/360 496,378,000.00 853.415497 1.763589 LT-A2 A-30/360 100.00 - - LT-X A-30/360 100.00 - - LT-B-1 A-30/360 5,915,000.00 1,000.000000 2.066507 LT-B-2 A-30/360 5,143,000.00 1,000.000000 2.066506 - ------------------------------------------------------------------------------------------------------------------------------- LT-B-3 A-30/360 2,315,000.00 1,000.000000 2.066505 LT-B-4 A-30/360 1,534,000.00 1,000.000000 2.066506 LT-B-5 A-30/360 1,028,000.00 1,000.000000 2.066508 LT-B-6 A-30/360 2,068,996.83 1,000.000000 2.066509 LT-R A-30/360 - - - - -------------------------------------------------------------------------------------------------------------------------------
Interest Accrual Detail - --------------------------------------------------------------------- Current Total Principal Class Principal Distribution Balance - --------------------------------------------------------------------- (3) (4)=(2)+(3) (5) - --------------------------------------------------------------------- LT-A 9.942536 11.706125 843.472960 LT-A2 - - - LT-X - - - LT-B-1 - 2.066507 1,000.000000 LT-B-2 - 2.066506 1,000.000000 - --------------------------------------------------------------------- LT-B-3 - 2.066505 1,000.000000 LT-B-4 - 2.066506 1,000.000000 LT-B-5 - 2.066508 1,000.000000 LT-B-6 - 2.066509 1,000.000000 LT-R - - - - ---------------------------------------------------------------------
Distribution in Dollars - to Date - ----------------------------------------------------------------------------------------------------------------------------------- Original Unscheduled Scheduled Total Total Class Face Value Interest Principal Principal Principal Distribution - ----------------------------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5) - ----------------------------------------------------------------------------------------------------------------------------------- LT-A 496,378,000.00 19,745,594.73 77,696,578.84 - 77,696,578.84 97,442,173.57 LT-A2 100.00 0.27 100.00 - 100.00 100.27 LT-X 100.00 - 100.00 - 100.00 100.00 LT-B-1 5,915,000.00 252,178.12 - - - 252,178.12 LT-B-2 5,143,000.00 219,264.93 - - - 219,264.93 LT-B-3 2,315,000.00 98,696.93 - - - 98,696.93 LT-B-4 1,534,000.00 65,400.01 - - - 65,400.01 LT-B-5 1,028,000.00 43,827.42 - - - 43,827.42 LT-B-6 2,068,996.83 88,208.93 - - - 88,208.93 LT-R - - - - - - - ----------------------------------------------------------------------------------------------------------------------------------- Total 514,382,196.83 20,513,171.34 77,696,778.84 - 77,696,778.84 98,209,950.18 - -----------------------------------------------------------------------------------------------------------------------------------
Distribution in Dollars - to Date - ----------------------------------------------------------------- Current Realized Deferred Principal Class Losses Interest Balance - ----------------------------------------------------------------- (7) (8) (9)=(1)-(5)-(7)+(8) - ----------------------------------------------------------------- LT-A - - 418,681,421.16 LT-A2 - - - LT-X - - - LT-B-1 - - 5,915,000.00 LT-B-2 - - 5,143,000.00 LT-B-3 - - 2,315,000.00 LT-B-4 - - 1,534,000.00 LT-B-5 - - 1,028,000.00 LT-B-6 - - 2,068,996.83 LT-R - - - - ----------------------------------------------------------------- Total - - 436,685,417.99 - -----------------------------------------------------------------
Interest Detail - ---------------------------------------------------------------------------------------------------------------------------------- Pass- Prior Principal Non- Prior Unscheduled Through (with Notional) Accrued Supported Unpaid Interest Class Rate Balance Interest Interest SF Interest Adjustments - ---------------------------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4) - ---------------------------------------------------------------------------------------------------------------------------------- LT-A 2.47981% 423,616,677.52 875,406.79 - - - LT-A2 2.47981% - - - - - LT-X - - - - - LT-B-1 2.47981% 5,915,000.00 12,223.39 - - - LT-B-2 2.47981% 5,143,000.00 10,628.04 - - - - ---------------------------------------------------------------------------------------------------------------------------------- LT-B-3 2.47981% 2,315,000.00 4,783.96 - - - LT-B-4 2.47981% 1,534,000.00 3,170.02 - - - LT-B-5 2.47981% 1,028,000.00 2,124.37 - - - LT-B-6 2.47981% 2,068,996.83 4,275.60 - - - LT-R - - - - - - ---------------------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------------------- Total 441,620,674.35 912,612.17 - - - - ----------------------------------------------------------------------------------------------------------------------------------
Interest Detail - ------------------------------------------------------------------ Paid or Current Optimal Deferred Unpaid Class Interest Interest Interest - ------------------------------------------------------------------ (5)=(1)-(2)+(3)+(4) (6) (7)=(5)-(6) - ------------------------------------------------------------------ LT-A 875,406.79 875,406.79 - LT-A2 - - - LT-X - - - LT-B-1 12,223.39 12,223.39 - LT-B-2 10,628.04 10,628.04 - - ------------------------------------------------------------------ LT-B-3 4,783.96 4,783.96 - LT-B-4 3,170.02 3,170.02 - LT-B-5 2,124.37 2,124.37 - LT-B-6 4,275.60 4,275.60 - LT-R - - - - ------------------------------------------------------------------- - ------------------------------------------------------------------- Total 912,612.17 912,612.17 - - -------------------------------------------------------------------
Distribution in Dollars - Current Period - -------------------------------------------------------------------------------------------------------------------------------- Prior Class Original Principal Total Class Type Face Value Balance Interest Principal Distribution - -------------------------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4)=(2)+(3) - -------------------------------------------------------------------------------------------------------------------------------- A FLT 496,378,000.00 423,616,677.52 504,809.87 4,935,256.36 5,440,066.23 X CSTR 100.00 - 378,067.74 - 378,067.74 A-R R 100.00 - - - - B-1 SUB 5,915,000.00 5,915,000.00 8,921.79 - 8,921.79 B-2 SUB 5,143,000.00 5,143,000.00 7,757.36 - 7,757.36 - -------------------------------------------------------------------------------------------------------------------------------- B-3 SUB 2,315,000.00 2,315,000.00 3,491.79 - 3,491.79 B-4 SUB 1,534,000.00 1,534,000.00 3,170.02 - 3,170.02 B-5 SUB 1,028,000.00 1,028,000.00 2,124.37 - 2,124.37 B-6 SUB 2,068,996.00 2,068,996.00 4,275.59 - 4,275.59 - -------------------------------------------------------------------------------------------------------------------------------- Total 514,382,196.00 441,620,673.52 912,618.53 4,935,256.36 5,847,874.89 - --------------------------------------------------------------------------------------------------------------------------------
Definitive Bond Record Date: 8/29/03
Distribution in Dollars - Current Period - ----------------------------------------------------------------- Current Realized Deferred Principal Class Losses Interest Balance - ----------------------------------------------------------------- (5) (6) (7)=(1)-(3)-(5)+(6) - ----------------------------------------------------------------- A - - 418,681,421.16 X - - - A-R - - - B-1 - - 5,915,000.00 B-2 - - 5,143,000.00 - ----------------------------------------------------------------- B-3 - - 2,315,000.00 B-4 - - 1,534,000.00 B-5 - - 1,028,000.00 B-6 - - 2,068,996.00 - ----------------------------------------------------------------- Total - - 436,685,417.16 - -----------------------------------------------------------------
Definitive Bond Record Date: 8/29/03
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face - ----------------------------------------------------------------------------------------------------------------------------------- Orig. Principal Prior Period Period (with Notional) Principal Class Starting Ending Method Cusip Balance Balance Interest - ----------------------------------------------------------------------------------------------------------------------------------- (1) (2) - ----------------------------------------------------------------------------------------------------------------------------------- A 08/19/03 09/18/03 A-30/360 81743XAA7 496,378,000.00 853.415497 1.016987 X A-30/360 SQ0201UPX 100.00 - 3,780,677.400000 A-R A-30/360 81743XAC3 100.00 - - B-1 08/19/03 09/18/03 A-30/360 81743XAB5 5,915,000.00 1,000.000000 1.508333 B-2 08/19/03 09/18/03 A-30/360 81743XAD1 5,143,000.00 1,000.000000 1.508334 - ----------------------------------------------------------------------------------------------------------------------------------- B-3 08/19/03 09/18/03 A-30/360 81743XAE9 2,315,000.00 1,000.000000 1.508333 B-4 A-30/360 SQ0201UB4 1,534,000.00 1,000.000000 2.066506 B-5 A-30/360 SQ0201UB5 1,028,000.00 1,000.000000 2.066508 B-6 A-30/360 SQ0201UB6 2,068,996.00 1,000.000000 2.066505 - -----------------------------------------------------------------------------------------------------------------------------------
Interest Accrual Detail - -------------------------------------------------------------- Current Total Principal Class Principal Distribution Balance - -------------------------------------------------------------- (3) (4)=(2)+(3) (5) - -------------------------------------------------------------- A 9.942536 10.959523 843.472960 X - 3,780,677.400000 - A-R - - - B-1 - 1.508333 1,000.000000 B-2 - 1.508334 1,000.000000 - -------------------------------------------------------------- B-3 - 1.508333 1,000.000000 B-4 - 2.066506 1,000.000000 B-5 - 2.066508 1,000.000000 B-6 - 2.066505 1,000.000000 - --------------------------------------------------------------
Interest will accrue on all Bonds on the basis of a 360-day year consisting of twelve 30-day months.
Distribution in Dollars - to Date - ------------------------------------------------------------------------------------------------------------------------------------ Original Unscheduled Scheduled Total Total Class Face Value Interest Principal Principal Principal Distribution - ------------------------------------------------------------------------------------------------------------------------------------ (1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5) - ------------------------------------------------------------------------------------------------------------------------------------ A 496,378,000.00 11,784,061.35 77,696,578.84 - 77,696,578.84 89,480,640.19 X 100.00 8,121,051.15 100.00 - 100.00 8,121,151.15 A-R 100.00 0.27 100.00 - 100.00 100.27 B-1 5,915,000.00 181,680.67 - - - 181,680.67 B-2 5,143,000.00 157,968.53 - - - 157,968.53 B-3 2,315,000.00 71,105.78 - - - 71,105.78 B-4 1,534,000.00 65,400.01 - - - 65,400.01 B-5 1,028,000.00 43,827.42 - - - 43,827.42 B-6 2,068,996.00 88,208.89 - - - 88,208.89 - ------------------------------------------------------------------------------------------------------------------------------------ Total 514,382,196.00 20,513,304.07 77,696,778.84 - 77,696,778.84 98,210,082.91 - ------------------------------------------------------------------------------------------------------------------------------------
Distribution in Dollars - to Date - ------------------------------------------------------------------- Current Realized Deferred Principal Class Losses Interest Balance - ------------------------------------------------------------------- (7) (8) (9)=(1)-(5)-(7)+(8) - ------------------------------------------------------------------- A - - 418,681,421.16 X - - - A-R - - - B-1 - - 5,915,000.00 B-2 - - 5,143,000.00 B-3 - - 2,315,000.00 B-4 - - 1,534,000.00 B-5 - - 1,028,000.00 B-6 - - 2,068,996.00 - ------------------------------------------------------------------- Total - - 436,685,417.16 - -------------------------------------------------------------------
Interest Detail - ----------------------------------------------------------------------------------------------------------------------------------- Pass- Prior Principal Non- Prior Unscheduled Through (with Notional) Accrued Supported Unpaid Interest Class Rate Balance Interest Interest SF Interest Adjustments - ----------------------------------------------------------------------------------------------------------------------------------- (1) (2) (3) (4) - ----------------------------------------------------------------------------------------------------------------------------------- A 1.43000% 423,616,677.52 504,809.87 - - - X 1.03818% - 378,067.74 - - - A-R 2.47981% - - - - - B-1 1.81000% 5,915,000.00 8,921.79 - - - B-2 1.81000% 5,143,000.00 7,757.36 - - - - ----------------------------------------------------------------------------------------------------------------------------------- B-3 1.81000% 2,315,000.00 3,491.79 - - - B-4 2.47981% 1,534,000.00 3,170.02 - - - B-5 2.47981% 1,028,000.00 2,124.37 - - - B-6 2.47981% 2,068,996.00 4,275.59 - - - - ----------------------------------------------------------------------------------------------------------------------------------- Total 441,620,673.52 912,618.53 - - - - -----------------------------------------------------------------------------------------------------------------------------------
Interest Detail - -------------------------------------------------------------------- Paid or Current Optimal Deferred Unpaid Class Interest Interest Interest - -------------------------------------------------------------------- (5)=(1)-(2)+(3)+(4) (6) (7)=(5)-(6) - -------------------------------------------------------------------- A 504,809.87 504,809.87 - X 378,067.74 378,067.74 - A-R - - - B-1 8,921.79 8,921.79 - B-2 7,757.36 7,757.36 - - -------------------------------------------------------------------- B-3 3,491.79 3,491.79 - B-4 3,170.02 3,170.02 - B-5 2,124.37 2,124.37 - B-6 4,275.59 4,275.59 - - -------------------------------------------------------------------- Total 912,618.53 912,618.53 - - --------------------------------------------------------------------
- -------------------------------------------------------------------------------- COLLECTION ACCOUNT REPORT - --------------------------------------------------------------------------------
SUMMARY TOTAL - --------------------------------------------------------------------------------------------------------------------------- Principal Collections 4,935,256.36 Principal Withdrawals 0.00 Principal Other Accounts 0.00 TOTAL PRINCIPAL 4,935,256.36 Interest Collected 930,237.63 Interest Withdrawals 0.00 Interest Other Accounts 6.37 Fees (17,625.46) TOTAL INTEREST 912,618.54 TOTAL AVAILABLE TO CERTIFICATEHOLDERS 5,847,874.90 - ---------------------------------------------------------------------------------------------------------------------------
PRINCIPAL - COLLECTIONS TOTAL - --------------------------------------------------------------------------------------------------------------------------- Scheduled Principal 0.00 Curtailments 972,028.62 Prepayments In Full 3,963,227.74 Repurchased Principal Amounts 0.00 Substitution Principal Amount 0.00 Liquidations 0.00 Insurance Principal 0.00 Other Principal 0.00 Total Realized Loss Of Principal 0.00 TOTAL PRINCIPAL COLLECTED 4,935,256.36 - ---------------------------------------------------------------------------------------------------------------------------
PRINCIPAL - WITHDRAWALS TOTAL - --------------------------------------------------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - ---------------------------------------------------------------------------------------------------------------------------
PRINCIPAL - OTHER ACCOUNTS TOTAL - --------------------------------------------------------------------------------------------------------------------------- Amounts remaining in Pre-Funding Account 0.00 - ---------------------------------------------------------------------------------------------------------------------------
INTEREST - COLLECTIONS TOTAL - --------------------------------------------------------------------------------------------------------------------------- Scheduled Interest 1,052,649.58 Repurchased Interest 0.00 Substitution Interest Amount 0.00 Liquidation Interest 0.00 Insurance Interest 0.00 Other Interest 0.00 Delinquent Interest (930,200.18) Interest Advanced 807,788.23 Prepayment Interest Shortfalls (4,456.40) Compensating Interest 4,456.40 Civil Relief Act Shortfalls 0.00 TOTAL INTEREST COLLECTED 930,237.63 - ---------------------------------------------------------------------------------------------------------------------------
INTEREST - WITHDRAWALS TOTAL - --------------------------------------------------------------------------------------------------------------------------- Current Nonrecoverable Advances 0.00 TOTAL INTEREST WITHDRAWALS 0.00 - ---------------------------------------------------------------------------------------------------------------------------
INTEREST - OTHER ACCOUNTS TOTAL - -------------------------------------------------------------------------------------- Basis Risk Shortfall 0.00 Basis Risk Reserve Fund Interest Earnings 6.37 TOTAL INTEREST OTHER ACCOUNTS 6.37 - --------------------------------------------------------------------------------------
INTEREST - FEES TOTAL - -------------------------------------------------------------------------------------- Current Servicing Fees 16,153.39 Trustee Fee 1,472.07 TOTAL FEES 17,625.46 - --------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- CREDIT ENHANCEMENT REPORT - --------------------------------------------------------------------------------
ACCOUNTS TOTAL - -------------------------------------------------------------------------------------- BASIS RISK RESERVE FUND Beginning Balance 10,000.00 Basis Risk Deposit 0.00 Basis Risk Shortfall paid 0.00 Investment Earnings distributed to the Class X Bondholder 6.37 Ending Balance 10,000.00 - --------------------------------------------------------------------------------------
INSURANCE TOTAL - -------------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - --------------------------------------------------------------------------------------
STRUCTURAL FEATURES TOTAL - -------------------------------------------------------------------------------------- Pro Rata Senior Percentage 95.923199% Senior Percentage 100.000000% Subordinate Percentage 0.000000% Senior Prepayment Percentage 100.000000% Subordinate Percentage 0.000000% - --------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- COLLATERAL REPORT - --------------------------------------------------------------------------------
COLLATERAL TOTAL - -------------------------------------------------------------------------------------- Loan Count: ORIGINAL 1254 Prior 1,086 Prefunding - Scheduled Paid Offs - Full Voluntary Prepayments (11) Repurchases - Liquidations - - -------------------------------------------------------------------------------------- Current 1,075 PRINCIPAL BALANCE: Original 514,382,196.83 Prior 441,620,674.35 Prefunding - Scheduled Principal - Partial and Full Voluntary Prepayments (4,935,256.36) Repurchases - Liquidations - - -------------------------------------------------------------------------------------- Current 436,685,417.99 - --------------------------------------------------------------------------------------
PREFUNDING TOTAL - -------------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - --------------------------------------------------------------------------------------
CHARACTERISTICS TOTAL - -------------------------------------------------------------------------------------- Weighted Average Coupon Original 3.667751% Weighted Average Coupon Prior 2.987543% Weighted Average Coupon Current 2.860327% - -------------------------------------------------------------------------------------- Weighted Average Months to Maturity Original 297 Weighted Average Months to Maturity Prior 282 Weighted Average Months to Maturity Current 281 - -------------------------------------------------------------------------------------- Weighted Avg Remaining Amortization Term Original 296 Weighted Avg Remaining Amortization Term Prior 281 Weighted Avg Remaining Amortization Term Current 280 - -------------------------------------------------------------------------------------- Weighted Average Seasoning Original 3.66 Weighted Average Seasoning Prior 18.63 Weighted Average Seasoning Current 19.63 - --------------------------------------------------------------------------------------
Note: Original information refers to deal issue.
ARM CHARACTERISTICS TOTAL - -------------------------------------------------------------------------------------- Weighted Average Margin Original 1.652% Weighted Average Margin Prior 1.643% Weighted Average Margin Current 1.643% - -------------------------------------------------------------------------------------- Weighted Average Max Rate Original 12.000% Weighted Average Max Rate Prior 12.000% Weighted Average Max Rate Current 12.000% - -------------------------------------------------------------------------------------- Weighted Average Min Rate Original 1.652% Weighted Average Min Rate Prior 1.643% Weighted Average Min Rate Current 1.643% - -------------------------------------------------------------------------------------- Weighted Average Cap Up Original 0.000% Weighted Average Cap Up Prior 0.000% Weighted Average Cap Up Current 0.000% - -------------------------------------------------------------------------------------- Weighted Average Cap Down Original 0.000% Weighted Average Cap Down Prior 0.000% Weighted Average Cap Down Current 0.000% - --------------------------------------------------------------------------------------
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES TOTAL - -------------------------------------------------------------------------------------- Current Servicing Fees 16,153.39 Delinquent Servicing Fees 122,411.95 TOTAL SERVICING FEES 138,565.34 Total Servicing Fees 138,565.34 Compensating Interest (4,456.40) Delinquent Servicing Fees (122,411.95) COLLECTED SERVICING FEES 11,696.99 Prepayment Interest Shortfall 4,456.40 Total Advanced Interest 807,788.23 Current Nonrecoverable Advances 0.00 - --------------------------------------------------------------------------------------
ADDITIONAL COLLATERAL INFORMATION TOTAL - -------------------------------------------------------------------------------------- Mortgage Loans which adjust based on One-Month LIBOR 0.00 Mortgage Loans which adjust based on Six-Month LIBOR 0.00 Special Hazard Loss Coverage Amount 5,800,000.00 Current Special Hazard Losses 0.00 Cumulative Special Hazard Losses 0.00 Bankruptcy Loss Coverage Amount 100,000.00 Current Bankruptcy Losses 0.00 Cumulative Bankruptcy Losses 0.00 Fraud Loss Coverage Amount 9,267,516.97 Current Fraud Losses 0.00 Cumulative Fraud Losses 0.00 - --------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- DELINQUENCY REPORT - TOTAL - --------------------------------------------------------------------------------
<1 payment 1 payment 2 payments 3+ payments total - ---------------------------------------------------------------------------------------------------------------------------- DELINQUENT Balance 665,909.34 - - 665,909.34 % Balance 0.15% 0.00% 0.00% 0.15% # Loans 3 - - 3 % # Loans 0.28% 0.00% 0.00% 0.28% - ---------------------------------------------------------------------------------------------------------------------------- FORECLOSURE Balance - - - - - % Balance 0.00% 0.00% 0.00% 0.00% 0.00% # Loans - - - - - % # Loans 0.00% 0.00% 0.00% 0.00% 0.00% - ---------------------------------------------------------------------------------------------------------------------------- BANKRUPTCY Balance - - - - - % Balance 0.00% 0.00% 0.00% 0.00% 0.00% # Loans - - - - - % # Loans 0.00% 0.00% 0.00% 0.00% 0.00% - ---------------------------------------------------------------------------------------------------------------------------- REO Balance - - - - - % Balance 0.00% 0.00% 0.00% 0.00% 0.00% # Loans - - - - - % # Loans 0.00% 0.00% 0.00% 0.00% 0.00% - ---------------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------------- TOTAL Balance - 665,909.34 - - 665,909.34 % Balance 0.00% 0.15% 0.00% 0.00% 0.15% # Loans - 3 - - 3 % # Loans 0.00% 0.28% 0.00% 0.00% 0.28% - ---------------------------------------------------------------------------------------------------------------------------- Note: <1 payment = 0-29days, 1 payment = 30-59days, 2 payments = 60-89days, 3+ payments = 90+
- -------------------------------------------------------------------------------- REO REPORT - MORTGAGE LOANS THAT BECOME REO DURING CURRENT DISTRIBUTION - --------------------------------------------------------------------------------
SUMMARY LOAN GROUP - ---------------------------------------------------------------------------------------------------------------------------- Total Loan Count = 0 Loan Group 1 = MSDW Group; REO Book Value = 000.00 Total Original Principal Balance = 000.00 Total Current Balance = 000.00 REO Book Value = 000.00 - ---------------------------------------------------------------------------------------------------------------------------- REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
- --------------------------------------------------------------------------------------------------------------------------------- Loan Number Original Stated Current State & & Principal Principal Paid to Note LTV at Original Origination Loan Group Balance Balance Date Rate Origination Term Date - --------------------------------------------------------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------- FORECLOSURE REPORT - MORTGAGE LOANS THAT BECOME FORECLOSURE DURING CURRENT DISTRIBUTION - ---------------------------------------------------------------------------------------------------------------------------- SUMMARY LOAN GROUP - ---------------------------------------------------------------------------------------------------------------------------- Total Loan Count = 0 Loan Group 1 = MSDW Group Total Original Principal Balance = 000.00 Total Current Balance = 000.00 - ----------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------- Loan Number Original Stated Current State & & Principal Principal Paid to Note LTV at Original Origination Loan Group Balance Balance Date Rate Origination Term Date - --------------------------------------------------------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - ---------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- PREPAYMENT REPORT - VOLUNTARY PREPAYMENTS - --------------------------------------------------------------------------------
VOLUNTARY PREPAYMENTS TOTAL - -------------------------------------------------------------------------------------- CURRENT Number of Paid in Full Loans 11 Number of Repurchased Loans - - -------------------------------------------------------------------------------------- Total Number of Loans Prepaid in Full 11 Paid in Full Balance 3,963,227.74 Repurchased Loans Balance - Curtailments Amount 972,028.62 - -------------------------------------------------------------------------------------- Total Prepayment Amount 4,935,256.36 CUMULATIVE Number of Paid in Full Loans 179 Number of Repurchased Loans - - -------------------------------------------------------------------------------------- Total Number of Loans Prepaid in Full 179 Paid in Full Balance 66,476,967.19 Repurchased Loans Balance - Curtailments Amount 11,219,811.65 - -------------------------------------------------------------------------------------- Total Prepayment Amount 77,696,778.84 SPACE INTENTIONALLY LEFT BLANK - --------------------------------------------------------------------------------------
VOLUNTARY PREPAYMENT RATES TOTAL - -------------------------------------------------------------------------------------- SMM 1.12% 3 Months Avg SMM 1.07% 12 Months Avg SMM 1.00% Avg SMM Since Cut-off 0.96% CPR 12.62% 3 Months Avg CPR 12.14% 12 Months Avg CPR 11.35% Avg CPR Since Cut-off 10.92% PSA 321.35% 3 Months Avg PSA Approximation 325.78% 12 Months Avg PSA Approximation 401.55% Avg PSA Since Cut-off Approximation 468.95% - --------------------------------------------------------------------------------------
PREPAYMENT CALCULATION METHODOLOGY - -------------------------------------------------------------------------------- Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)/\12) PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS)) Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) *.......*(1-SMMm)]/\(1/months in period n,m) Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)/\12) Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m)) Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m) Weighted Average Seasoning (WAS) Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases. Dates correspond to distribution dates. - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PREPAYMENT DETAIL REPORT - LOANS PREPAID IN FULL DURING CURRENT DISTRIBUTION - --------------------------------------------------------------------------------
SUMMARY LOAN GROUP - --------------------------------------------------------- ------------------------------------------------------- Total Loan Count = 11 Loan Group 1 = MSDW Group Total Original Principal Balance = 4,070,600.00 Total Prepayment Amount = 3,963,227.74 - --------------------------------------------------------- -------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------------- Loan Number Original Current State & Type Prepayment & Loan Principal Prepayment Prepayment Note LTV at & Origination Loan Group Status Balance Amount Date Rate Origination Original Term Date - -------------------------------------------------------------------------------------------------------------------------------- 390441967 1 306,000.00 305,840.63 Aug-29-03 2.875% SC - 88.95% Paid Off - 300 Nov-06-01 390442230 1 160,000.00 159,981.61 Aug-21-03 2.875% GA - 69.26% Paid Off - 300 Oct-17-01 390443607 1 220,000.00 215,709.01 Aug-20-03 3.000% WA - 67.69% Paid Off - 300 Nov-14-01 390443826 1 165,000.00 75,224.96 Aug-19-03 2.875% CA - 52.47% Paid Off - 300 Dec-28-01 390443895 1 1,008,000.00 1,008,000.00 Aug-13-03 3.000% CA - 69.52% Paid Off - 300 Nov-29-01 390443937 1 400,000.00 400,000.00 Aug-18-03 2.875% AZ - 73.19% Paid Off - 300 Dec-05-01 390446533 1 320,000.00 319,951.67 Aug-12-03 2.875% IA - 80.00% Paid Off - 300 Dec-31-01 390446597 1 688,000.00 679,896.68 Aug-13-03 3.000% UT - 80.00% Paid Off - 300 Jan-17-02 390446877 1 510,000.00 510,000.00 Aug-27-03 3.000% NY - 71.33% Paid Off - 300 Jan-22-02 390447677 1 68,000.00 63,825.92 Aug-26-03 2.875% CA - 46.26% Paid Off - 300 Feb-21-02 390448289 1 225,600.00 224,797.26 Aug-28-03 3.000% MA - 68.36% Paid Off - 300 Feb-15-02 - --------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- REALIZED LOSS DETAIL REPORT - LOANS LIQUIDATED DURING CURRENT DISTRIBUTION - --------------------------------------------------------------------------------
SUMMARY LOAN GROUP - ---------------------------------------------------- --------------------------------------------------- Total Loan Count = 0 Loan Group 1 = MSDW Group Total Original Principal Balance = 0.00 Total Prior Principal Balance = 0.00 Total Realized Loss Amount = 0.00 Total Net Liquidation Proceeds = 0.00 - ---------------------------------------------------- --------------------------------------------------- Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
- -------------------------------------------------------------------------------------------------------------------------------- Loan Number Original Prior Current State & & Loan Principal Principal Realized Note LTV at Original Origination Loan Group Status Balance Balance Loss/(Gain) Rate Origination Term Date - -------------------------------------------------------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - --------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- TRIGGERS, ADJ. RATE CERT. AND MISCELLANEOUS REPORT - --------------------------------------------------------------------------------
TRIGGER EVENTS TOTAL - -------------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - --------------------------------------------------------------------------------------
ADJUSTABLE RATE CERTIFICATE INFORMATION TOTAL - -------------------------------------------------------------------------------------- SPACE INTENTIONALLY LEFT BLANK - --------------------------------------------------------------------------------------
ADDITIONAL INFORMATION TOTAL - -------------------------------------------------------------------------------------- Basis Risk Shortfall Class A 0.00 Class B-1 0.00 Class B-2 0.00 Class B-3 0.00 Unpaid Basis Risk Shortfall Class A 0.00 Class B-1 0.00 Class B-2 0.00 Class B-3 0.00 - --------------------------------------------------------------------------------------