8-K 1 mo731245v2-8k.txt CURRENT REPORT 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) July 29, 2003 ------------------------------- MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. (as depositor under the Pooling and Servicing Agreement, relating to the MASTR Adjustable Rate Mortgage Trust 2003-2 Mortgage Pass-Through Certificates, Series 2003-2) MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. ------------------------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 333-101254-10 06-1204982 ------------------------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 1285 Avenue of the Americas, New York, New York 10019 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (212) 713-2000 ---------------------------- -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) ITEM 5. Other Events ------------ On July 29, 2003 (the "Closing Date"), Mortgage Asset Securitization Transactions, Inc. (the "Company") issued the Company's MASTR Adjustable Rate Mortgage Trust 2003-2 Mortgage Pass-Through Certificates, Series 2003-2, Class 1-A-1, Class 2-A-1, Class 3-A-1, Class 3-A-X, Class 4-A-1, Class 4-A-2, Class 4-A-X, Class 5-A-1, Class 5-A-2, Class 6-A-1, Class 6-A-X, Class A-R, Class B-1, Class B-2, and Class B-3 certificates (the "Offered Certificates"), having an aggregate original principal balance of $297,135,100. The Offered Certificates were issued pursuant to a Pooling and Servicing Agreement, dated as of July 1, 2003, among the Company, as depositor, JPMorgan Chase Bank, as trustee, UBS Warburg Real Estate Securities Inc., as transferor, Wells Fargo Bank Minnesota, N.A., as master servicer and custodian, and U.S. Bank National Association, as custodian. The Offered Certificates, together with the Company's MASTR Adjustable Rate Mortgage Trust 2003-2 Mortgage Pass-Through Certificates, Series 2003-2, Class B-4, Class B-5 and Class B-6 certificates represent, in the aggregate, the entire beneficial ownership interest in a separate trust fund, the property of which is, as of the Closing Date, primarily comprised of a pool of closed-end, fixed-rate loans which are secured by first lien mortgages or deeds of trust on residential one- to four-family properties. ITEM 7. Financial Statements and Exhibits --------------------------------- (c) Exhibits Item 601(a) of Regulation S-K Exhibit No. Description ------------------ ----------- 4 Pooling and Servicing Agreement, dated as of July 1, 2003, among Mortgage Asset Securitization Transactions, Inc., JPMorgan Chase Bank N.A., UBS Warburg Real Estate Securities Inc., Wells Fargo Bank Minnesota and U.S. Bank National Association. 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. MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. September 12, 2003 By: /s/ Glenn McIntyre ---------------------------------------- Name: Glenn McIntyre Title: Associate Director By: /s/ Steve Warjanka ---------------------------------------- Name: Steve Warjanka Title: Associate Director INDEX TO EXHIBITS Paper (P) or Exhibit No. Description Electronic (E) ----------- ----------- -------------- 4 Pooling and Servicing Agreement, E dated as of July 1, 2003, among Mortgage Asset Securitization Transactions, Inc., JPMorgan Chase Bank, UBS Warburg Real Estate Securities Inc., Wells Fargo Bank Minnesota, N.A. and U.S. Bank National Association.

Mortgage Asset Securitization Transactions, Inc Mortgage Pass-Through Certificates Record Date: 7/31/03 Distribution Date: 8/25/03 MARM Series: 2003-2 Contact: Customer Service - SecuritiesLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 846-8130 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution 1-A-1 576433DE3 SEN 4.11475% 40,479,000.00 138,475.66 512,956.85 2-A-1 576433DF0 SEN 5.16450% 46,601,000.00 200,089.11 2,040,743.91 3-A-1 576433DG8 SEN 3.97347% 72,916,000.00 240,875.49 290,412.39 3-AX 576433DH6 SEN 0.67850% 0.00 41,131.34 0.00 4-A-1 576433DJ2 SEN 5.12930% 30,000,000.00 127,932.11 695,414.00 4-A-2 576433DK9 SEN 3.97160% 48,014,000.00 158,538.09 1,112,986.93 4-AX 576433DL7 SEN 1.15770% 0.00 46,212.99 0.00 5-A-1 576433DM5 SEN 4.43307% 29,312,000.00 108,031.41 29,803.16 5-A-2 576433DX1 SEN 4.43307% 1,221,000.00 4,500.08 1,241.46 6-A-1 576433DN3 SEN 4.25566% 14,792,000.00 52,335.24 9,012.02 6-AX 576433DP8 SEN 0.70530% 0.00 8,673.63 0.00 B-1 576433DR4 SUB 4.78349% 9,150,000.00 36,388.65 5,834.29 B-2 576433DS2 SUB 4.78349% 2,700,000.00 10,737.63 1,721.59 B-3 576433DT0 SUB 4.78349% 1,950,000.00 7,754.96 1,243.37 B-4 576433DU7 SUB 4.78349% 1,050,000.00 4,175.75 669.51 B-5 576433DV5 SUB 4.78349% 900,000.00 3,579.21 573.86 B-6 576433DW3 SUB 4.78349% 902,395.00 3,588.74 575.39 AR 576433DQ6 SUB 4.11475% 100.00 0.40 100.00 Totals 299,987,495.00 1,193,020.49 4,703,288.73

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A-1 0.00 39,966,043.15 651,432.51 0.00 2-A-1 0.00 44,560,256.09 2,240,833.02 0.00 3-A-1 0.00 72,625,587.61 531,287.88 0.00 3-AX 0.00 0.00 41,131.34 0.00 4-A-1 0.00 29,304,586.00 823,346.11 0.00 4-A-2 0.00 46,901,013.07 1,271,525.02 0.00 4-AX 0.00 0.00 46,212.99 0.00 5-A-1 0.00 29,282,196.84 137,834.57 0.00 5-A-2 0.00 1,219,758.54 5,741.54 0.00 6-A-1 0.00 14,782,987.98 61,347.26 0.00 6-AX 0.00 0.00 8,673.63 0.00 B-1 0.00 9,144,165.71 42,222.94 0.00 B-2 0.00 2,698,278.41 12,459.22 0.00 B-3 0.00 1,948,756.63 8,998.33 0.00 B-4 0.00 1,049,330.49 4,845.26 0.00 B-5 0.00 899,426.14 4,153.07 0.00 B-6 0.00 901,820.50 4,164.13 0.00 AR 0.00 0.00 100.40 0.00 Totals 0.00 295,284,207.16 5,896,309.22 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) 1-A-1 40,479,000.00 40,479,000.00 38,309.21 474,647.64 0.00 0.00 2-A-1 46,601,000.00 46,601,000.00 30,585.38 2,010,158.53 0.00 0.00 3-A-1 72,916,000.00 72,916,000.00 45,142.62 245,269.77 0.00 0.00 3-AX 0.00 0.00 0.00 0.00 0.00 0.00 4-A-1 30,000,000.00 30,000,000.00 11,962.09 683,451.91 0.00 0.00 4-A-2 48,014,000.00 48,014,000.00 19,144.92 1,093,842.01 0.00 0.00 4-AX 0.00 0.00 0.00 0.00 0.00 0.00 5-A-1 29,312,000.00 29,312,000.00 26,425.64 3,377.52 0.00 0.00 5-A-2 1,221,000.00 1,221,000.00 1,100.77 140.69 0.00 0.00 6-A-1 14,792,000.00 14,792,000.00 7,985.23 1,026.79 0.00 0.00 6-AX 0.00 0.00 0.00 0.00 0.00 0.00 B-1 9,150,000.00 9,150,000.00 5,834.29 0.00 0.00 0.00 B-2 2,700,000.00 2,700,000.00 1,721.59 0.00 0.00 0.00 B-3 1,950,000.00 1,950,000.00 1,243.37 0.00 0.00 0.00 B-4 1,050,000.00 1,050,000.00 669.51 0.00 0.00 0.00 B-5 900,000.00 900,000.00 573.86 0.00 0.00 0.00 B-6 902,395.00 902,395.00 575.39 0.00 0.00 0.00 AR 100.00 100.00 7.47 92.53 0.00 0.00 Totals 299,987,495.00 299,987,495.00 191,281.34 4,512,007.39 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 1-A-1 512,956.85 39,966,043.15 0.98732783 512,956.85 2-A-1 2,040,743.91 44,560,256.09 0.95620815 2,040,743.91 3-A-1 290,412.39 72,625,587.61 0.99601717 290,412.39 3-AX 0.00 0.00 0.00000000 0.00 4-A-1 695,414.00 29,304,586.00 0.97681953 695,414.00 4-A-2 1,112,986.93 46,901,013.07 0.97681953 1,112,986.93 4-AX 0.00 0.00 0.00000000 0.00 5-A-1 29,803.16 29,282,196.84 0.99898324 29,803.16 5-A-2 1,241.46 1,219,758.54 0.99898324 1,241.46 6-A-1 9,012.02 14,782,987.98 0.99939075 9,012.02 6-AX 0.00 0.00 0.00000000 0.00 B-1 5,834.29 9,144,165.71 0.99936237 5,834.29 B-2 1,721.59 2,698,278.41 0.99936237 1,721.59 B-3 1,243.37 1,948,756.63 0.99936237 1,243.37 B-4 669.51 1,049,330.49 0.99936237 669.51 B-5 573.86 899,426.14 0.99936238 573.86 B-6 575.39 901,820.50 0.99936336 575.39 AR 100.00 0.00 0.00000000 100.00 Totals 4,703,288.73 295,284,207.16 0.98432172 4,703,288.73

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A-1 40,479,000.00 1000.00000000 0.94639714 11.72577485 0.00000000 2-A-1 46,601,000.00 1000.00000000 0.65632454 43.13552349 0.00000000 3-A-1 72,916,000.00 1000.00000000 0.61910445 3.36373046 0.00000000 3-AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000 4-A-1 30,000,000.00 1000.00000000 0.39873633 22.78173033 0.00000000 4-A-2 48,014,000.00 1000.00000000 0.39873620 22.78173054 0.00000000 4-AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000 5-A-1 29,312,000.00 1000.00000000 0.90152975 0.11522653 0.00000000 5-A-2 1,221,000.00 1000.00000000 0.90153153 0.11522523 0.00000000 6-A-1 14,792,000.00 1000.00000000 0.53983437 0.06941522 0.00000000 6-AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,150,000.00 1000.00000000 0.63762732 0.00000000 0.00000000 B-2 2,700,000.00 1000.00000000 0.63762593 0.00000000 0.00000000 B-3 1,950,000.00 1000.00000000 0.63762564 0.00000000 0.00000000 B-4 1,050,000.00 1000.00000000 0.63762857 0.00000000 0.00000000 B-5 900,000.00 1000.00000000 0.63762222 0.00000000 0.00000000 B-6 902,395.00 1000.00000000 0.63762543 0.00000000 0.00000000 AR 100.00 1000.00000000 74.70000000 925.30000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution 1-A-1 0.00000000 12.67217199 987.32782801 0.98732783 12.67217199 2-A-1 0.00000000 43.79184803 956.20815197 0.95620815 43.79184803 3-A-1 0.00000000 3.98283491 996.01716509 0.99601717 3.98283491 3-AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 4-A-1 0.00000000 23.18046667 976.81953333 0.97681953 23.18046667 4-A-2 0.00000000 23.18046674 976.81953326 0.97681953 23.18046674 4-AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 5-A-1 0.00000000 1.01675628 998.98324372 0.99898324 1.01675628 5-A-2 0.00000000 1.01675676 998.98324324 0.99898324 1.01675676 6-A-1 0.00000000 0.60924959 999.39075041 0.99939075 0.60924959 6-AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.63762732 999.36237268 0.99936237 0.63762732 B-2 0.00000000 0.63762593 999.36237407 0.99936237 0.63762593 B-3 0.00000000 0.63762564 999.36237436 0.99936237 0.63762564 B-4 0.00000000 0.63762857 999.36237143 0.99936237 0.63762857 B-5 0.00000000 0.63762222 999.36237778 0.99936238 0.63762222 B-6 0.00000000 0.63762543 999.36336083 0.99936336 0.63762543 AR 0.00000000 1,000.00000000 0.00000000 0.00000000 1,000.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, 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 1-A-1 40,479,000.00 4.11475% 40,479,000.00 138,800.83 0.00 0.00 2-A-1 46,601,000.00 5.16450% 46,601,000.00 200,558.97 0.00 0.00 3-A-1 72,916,000.00 3.97347% 72,916,000.00 241,441.12 0.00 0.00 3-AX 0.00 0.67850% 72,916,000.00 41,227.92 0.00 0.00 4-A-1 30,000,000.00 5.12930% 30,000,000.00 128,232.52 0.00 0.00 4-A-2 48,014,000.00 3.97160% 48,014,000.00 158,910.37 0.00 0.00 4-AX 0.00 1.15770% 48,014,000.00 46,321.51 0.00 0.00 5-A-1 29,312,000.00 4.43307% 29,312,000.00 108,285.09 0.00 0.00 5-A-2 1,221,000.00 4.43307% 1,221,000.00 4,510.65 0.00 0.00 6-A-1 14,792,000.00 4.25566% 14,792,000.00 52,458.13 0.00 0.00 6-AX 0.00 0.70530% 14,792,000.00 8,694.00 0.00 0.00 B-1 9,150,000.00 4.78349% 9,150,000.00 36,474.10 0.00 0.00 B-2 2,700,000.00 4.78349% 2,700,000.00 10,762.85 0.00 0.00 B-3 1,950,000.00 4.78349% 1,950,000.00 7,773.17 0.00 0.00 B-4 1,050,000.00 4.78349% 1,050,000.00 4,185.55 0.00 0.00 B-5 900,000.00 4.78349% 900,000.00 3,587.62 0.00 0.00 B-6 902,395.00 4.78349% 902,395.00 3,597.17 0.00 0.00 AR 100.00 4.11475% 100.00 0.34 0.00 0.00 Totals 299,987,495.00 1,195,821.91 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 1-A-1 325.17 0.00 138,475.66 0.00 39,966,043.15 2-A-1 469.85 0.00 200,089.11 0.00 44,560,256.09 3-A-1 565.63 0.00 240,875.49 0.00 72,625,587.61 3-AX 96.59 0.00 41,131.34 0.00 72,625,587.61 4-A-1 300.41 0.00 127,932.11 0.00 29,304,586.00 4-A-2 372.28 0.00 158,538.09 0.00 46,901,013.07 4-AX 108.52 0.00 46,212.99 0.00 46,901,013.07 5-A-1 253.68 0.00 108,031.41 0.00 29,282,196.84 5-A-2 10.57 0.00 4,500.08 0.00 1,219,758.54 6-A-1 122.89 0.00 52,335.24 0.00 14,782,987.98 6-AX 20.37 0.00 8,673.63 0.00 14,782,987.98 B-1 85.45 0.00 36,388.65 0.00 9,144,165.71 B-2 25.21 0.00 10,737.63 0.00 2,698,278.41 B-3 18.21 0.00 7,754.96 0.00 1,948,756.63 B-4 9.81 0.00 4,175.75 0.00 1,049,330.49 B-5 8.40 0.00 3,579.21 0.00 899,426.14 B-6 8.43 0.00 3,588.74 0.00 901,820.50 AR 0.00 0.00 0.40 0.00 0.00 Totals 2,801.47 0.00 1,193,020.49 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, 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 1-A-1 40,479,000.00 4.11475% 1000.00000000 3.42895897 0.00000000 0.00000000 2-A-1 46,601,000.00 5.16450% 1000.00000000 4.30374820 0.00000000 0.00000000 3-A-1 72,916,000.00 3.97347% 1000.00000000 3.31122278 0.00000000 0.00000000 3-AX 0.00 0.67850% 1000.00000000 0.56541664 0.00000000 0.00000000 4-A-1 30,000,000.00 5.12930% 1000.00000000 4.27441733 0.00000000 0.00000000 4-A-2 48,014,000.00 3.97160% 1000.00000000 3.30966739 0.00000000 0.00000000 4-AX 0.00 1.15770% 1000.00000000 0.96475007 0.00000000 0.00000000 5-A-1 29,312,000.00 4.43307% 1000.00000000 3.69422387 0.00000000 0.00000000 5-A-2 1,221,000.00 4.43307% 1000.00000000 3.69422604 0.00000000 0.00000000 6-A-1 14,792,000.00 4.25566% 1000.00000000 3.54638521 0.00000000 0.00000000 6-AX 0.00 0.70530% 1000.00000000 0.58775014 0.00000000 0.00000000 B-1 9,150,000.00 4.78349% 1000.00000000 3.98624044 0.00000000 0.00000000 B-2 2,700,000.00 4.78349% 1000.00000000 3.98624074 0.00000000 0.00000000 B-3 1,950,000.00 4.78349% 1000.00000000 3.98624103 0.00000000 0.00000000 B-4 1,050,000.00 4.78349% 1000.00000000 3.98623810 0.00000000 0.00000000 B-5 900,000.00 4.78349% 1000.00000000 3.98624444 0.00000000 0.00000000 B-6 902,395.00 4.78349% 1000.00000000 3.98624771 0.00000000 0.00000000 AR 100.00 4.11475% 1000.00000000 3.40000000 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 1-A-1 0.00803305 0.00000000 3.42092591 0.00000000 987.32782801 2-A-1 0.01008240 0.00000000 4.29366559 0.00000000 956.20815197 3-A-1 0.00775728 0.00000000 3.30346549 0.00000000 996.01716509 3-AX 0.00132467 0.00000000 0.56409211 0.00000000 996.01716509 4-A-1 0.01001367 0.00000000 4.26440367 0.00000000 976.81953333 4-A-2 0.00775357 0.00000000 3.30191382 0.00000000 976.81953326 4-AX 0.00226017 0.00000000 0.96248990 0.00000000 976.81953326 5-A-1 0.00865448 0.00000000 3.68556939 0.00000000 998.98324372 5-A-2 0.00865684 0.00000000 3.68556921 0.00000000 998.98324324 6-A-1 0.00830787 0.00000000 3.53807734 0.00000000 999.39075041 6-AX 0.00137710 0.00000000 0.58637304 0.00000000 999.39075041 B-1 0.00933880 0.00000000 3.97690164 0.00000000 999.36237268 B-2 0.00933704 0.00000000 3.97690000 0.00000000 999.36237407 B-3 0.00933846 0.00000000 3.97690256 0.00000000 999.36237436 B-4 0.00934286 0.00000000 3.97690476 0.00000000 999.36237143 B-5 0.00933333 0.00000000 3.97690000 0.00000000 999.36237778 B-6 0.00934181 0.00000000 3.97690590 0.00000000 999.36336083 AR 0.00000000 0.00000000 4.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,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 5,997,360.38 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 6,620.49 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 6,003,980.87 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 107,671.65 Payment of Interest and Principal 5,896,309.22 Total Withdrawals (Pool Distribution Amount) 6,003,980.87 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 2,801.47 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 2,801.47

SERVICING FEES Gross Servicing Fee 107,671.65 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 107,671.65

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 4 0 0 0 4 1,241,827.77 0.00 0.00 0.00 1,241,827.77 60 Days 1 0 0 0 1 87,204.62 0.00 0.00 0.00 87,204.62 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 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 5 0 0 0 5 1,329,032.39 0.00 0.00 0.00 1,329,032.39 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 0.524934% 0.000000% 0.000000% 0.000000% 0.524934% 0.420368% 0.000000% 0.000000% 0.000000% 0.420368% 60 Days 0.131234% 0.000000% 0.000000% 0.000000% 0.131234% 0.029519% 0.000000% 0.000000% 0.000000% 0.029519% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.656168% 0.000000% 0.000000% 0.000000% 0.656168% 0.449888% 0.000000% 0.000000% 0.000000% 0.449888%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1 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 1 0 0 0 1 396,000.00 0.00 0.00 0.00 396,000.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 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 1 0 0 0 1 396,000.00 0.00 0.00 0.00 396,000.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.041667% 0.000000% 0.000000% 0.000000% 1.041667% 0.934656% 0.000000% 0.000000% 0.000000% 0.934656% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 1.041667% 0.000000% 0.000000% 0.000000% 1.041667% 0.934656% 0.000000% 0.000000% 0.000000% 0.934656% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 1 0 0 0 1 87,204.62 0.00 0.00 0.00 87,204.62 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 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 1 0 0 0 1 87,204.62 0.00 0.00 0.00 87,204.62 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.793651% 0.000000% 0.000000% 0.000000% 0.793651% 0.184286% 0.000000% 0.000000% 0.000000% 0.184286% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.793651% 0.000000% 0.000000% 0.000000% 0.793651% 0.184286% 0.000000% 0.000000% 0.000000% 0.184286% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3 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 1 0 0 0 1 186,000.00 0.00 0.00 0.00 186,000.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 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 1 0 0 0 1 186,000.00 0.00 0.00 0.00 186,000.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.518135% 0.000000% 0.000000% 0.000000% 0.518135% 0.241775% 0.000000% 0.000000% 0.000000% 0.241775% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.518135% 0.000000% 0.000000% 0.000000% 0.518135% 0.241775% 0.000000% 0.000000% 0.000000% 0.241775% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4 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 2 659,827.77 0.00 0.00 0.00 659,827.77 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 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 2 0 0 0 2 659,827.77 0.00 0.00 0.00 659,827.77 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.947867% 0.000000% 0.000000% 0.000000% 0.947867% 0.816475% 0.000000% 0.000000% 0.000000% 0.816475% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.947867% 0.000000% 0.000000% 0.000000% 0.947867% 0.816475% 0.000000% 0.000000% 0.000000% 0.816475% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 5 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 6 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 6,620.49

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 150,000.00 0.05000208% 150,000.00 0.05079852% Fraud 8,999,625.00 3.00000004% 8,999,625.00 3.04778406% Special Hazard 3,665,000.00 1.22171759% 3,665,000.00 1.24117711% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.214191% Weighted Average Net Coupon 4.789355% Weighted Average Pass-Through Rate 4.783487% Weighted Average Maturity(Stepdown Calculation ) 358 Beginning Scheduled Collateral Loan Count 772 Number Of Loans Paid In Full 10 Ending Scheduled Collateral Loan Count 762 Beginning Scheduled Collateral Balance 299,987,495.89 Ending Scheduled Collateral Balance 295,284,207.16 Ending Actual Collateral Balance at 31-Jul-2003 295,414,097.00 Monthly P &I Constant 1,494,774.73 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 295,284,207.16 Scheduled Principal 191,281.34 Unscheduled Principal 4,512,007.39

Group Level Collateral Statement Group 1 2 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.400251 5.513218 5.225068 Weighted Average Net Rate 4.118815 5.175214 4.653109 Weighted Average Maturity 357 356 357 Beginning Loan Count 97 131 194 Loans Paid In Full 1 5 1 Ending Loan Count 96 126 193 Beginning Scheduled Balance 42,858,113.00 49,339,572.00 77,200,951.00 Ending scheduled Balance 42,342,804.27 47,297,030.50 76,907,886.01 Record Date 07/31/2003 07/31/2003 07/31/2003 Principal And Interest Constant 197,723.98 259,065.94 383,945.66 Scheduled Principal 40,568.60 32,382.77 47,795.45 Unscheduled Principal 474,740.17 2,010,158.53 245,269.77 Scheduled Interest 157,155.38 226,683.17 336,150.21 Servicing Fees 10,051.53 13,897.47 36,796.49 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 145.14 440.60 73.46 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 146,958.71 212,345.10 299,280.26 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 4.114751 5.164498 4.651967

Group Level Collateral Statement Group 4 5 6 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.521875 4.855620 5.563292 Weighted Average Net Rate 5.139414 4.437209 4.960964 Weighted Average Maturity 357 357 356 Beginning Loan Count 214 101 35 Loans Paid In Full 3 0 0 Ending Loan Count 211 101 35 Beginning Scheduled Balance 82,599,220.00 32,327,665.00 15,661,974.00 Ending scheduled Balance 80,788,991.05 32,295,002.68 15,652,492.65 Record Date 07/31/2003 07/31/2003 07/31/2003 Principal And Interest Constant 413,020.76 159,953.40 81,064.99 Scheduled Principal 32,935.30 29,144.35 8,454.87 Unscheduled Principal 1,777,293.92 3,518.21 1,026.79 Scheduled Interest 380,085.46 130,809.05 72,610.12 Servicing Fees 26,325.80 11,271.89 7,861.38 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 696.10 111.55 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 353,063.56 119,425.61 64,748.74 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.129301 4.433069 4.960963

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 5.214191 Weighted Average Net Rate 4.789355 Weighted Average Maturity 358.00 Record Date 07/31/2003 Principal And Interest Constant 1,494,774.73 Beginning Loan Count 772 Loans Paid In Full 10 Ending Loan Count 762 Beginning Scheduled Balance 299,987,495.00 Ending Scheduled Balance 295,284,207.16 Scheduled Principal 191,281.34 Unscheduled Principal 4,512,007.39 Scheduled Interest 1,303,493.39 Servicing Fee 106,204.56 Master Servicing Fee 0.00 Trustee Fee 0.00 Fry Amount 0.00 Special Hazard Fee 0.00 Other Fee 1,466.85 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 1,195,821.98 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 4.783487

Miscellaneous Reporting Group 1 Senior Percentage 94.449095% Subordinate Percentage 5.550905% Senior Prepayment Percentage 100.000000% Group 2 Senior Percentage 94.449543% Subordinate Percentage 5.550457% Senior Prepayment Percentage 100.000000% Group 3 Senior Percentage 94.449613% Subordinate Percentage 5.550387% Senior Prepayment Percentage 100.000000%

Miscellaneous Reporting Group 4 Senior Percentage 94.448833% Subordinate Percentage 5.551167% Senior Prepayment Percentage 100.000000% Group 5 Senior Percentage 94.448516% Subordinate Percentage 5.551484% Senior Prepayment Percentage 100.000000% Group 6 Senior Percentage 94.445309% Subordinate Percentage 5.554691% Senior Prepayment Percentage 100.000000%

Filing Compare · MASTR ADJUSTABLE RATE MORTGAGE TRUST 2003-2