8-K 1 d204405.txt FINANCIAL ASSET SECURITIES CORP. ================================================================================ 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): January 23, 2004 FINANCIAL ASSET SECURITIES CORP. (AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT, DATED AS OF DECEMBER 1, 2003, PROVIDING FOR THE ISSUANCE OF ASSET BACKED PASS-THROUGH CERTIFICATES, SERIES 2003-FFH2) Financial Asset Securities Corp. -------------------------------- (Exact name of registrant as specified in its charter) --------------------------------------------------------------------------------

================================================================================ -2- Item 2. ACQUISITION OR DISPOSITION OF ASSETS On December 29, 2003, a single series of certificates, entitled First Franklin Mortgage Loan Trust 2003-FFH2, Asset-Backed Certificates, Series 2003-FFH2 (the "Certificates"), were issued pursuant to a pooling and servicing agreement, dated as of December 1, 2003 (the "Agreement"), among Financial Asset Securities Corp. (the "Depositor"), Saxon Mortgage Services, Inc. ("Saxon") and Wells Fargo Bank Minnesota, National Association as trustee (the "Trustee"). On January 23, 2004 following the closing of the initial issuance of the Certificates, the Trustee purchased from the Depositor certain Subsequent Mortgage Loans, as defined in the Agreement, (i) with an aggregate Stated Principal Balance equal to $201,490,736.93 with funds on deposit in a pre-funding account (the "Group I Pre-Funding Account") and (ii) with an aggregate Stated Principal Balance equal to $55,157,511.03 with funds on deposit in a pre-funding account (the "Group II Pre-Funding Account") both established pursuant to the Agreement at a purchase price equal to the Stated Principal Balance thereof, which Subsequent Mortgage Loans were conveyed to the Trustee pursuant to a Subsequent Transfer Instrument, dated January 23, 2004 (the "Instrument"), between the Depositor and the Trustee. Attached to the Instrument is the Subsequent Mortgage Loan Schedule listing the Subsequent Mortgage Loans that are the subject of such Instrument. Item 5. OTHER EVENTS Description of the Mortgage Pool The Certificates, issued pursuant to the Agreement, evidence in the aggregate the entire beneficial ownership interest in a trust fund (the "Trust Fund"), consisting primarily of a segregated pool (the "Mortgage Pool") of conventional, one- to four- family, first lien, adjustable-rate and fixed-rate mortgage loans having original terms to maturity of not greater than 30 years (the "Mortgage Loans"). After the Subsequent Transfer Date, the Trust Fund primarily consisted of the Mortgage Pool, which consisted of Group I Mortgage Loans having an aggregate Stated Principal Balance of approximately $824,339,449 and Group II Mortgage Loans having an aggregate Stated Principal Balance of approximately $225,660,552. The tables attached as an exhibit hereto describe certain characteristics of the Mortgage Pool as of the Subsequent Cut-off Date. Item 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Not applicable (b) Not applicable (c) Exhibits -3-

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf the undersigned thereunto duly authorized. Dated: February 9, 2004 FINANCIAL ASSET SECURITIES CORP. By: /s/ Frank Y. Skibo ---------------------------- Name: Frank Y. Skibo Title: Senior Vice President

FINANCIAL ASSET SEC CORP ASSET BACK CERTS SER 2003 FFH2 8-K