8-K 1 csfb03ar18_aug03.txt 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) : August 25, 2003 CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. (as depositor under a Pooling and Servicing Agreement, dated as of June 1, 2003, providing for, inter alia, the issuance of CSFB Mortgage-Backed Pass-Through Certificates, Series 2003-AR18) CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. (Exact name of registrant as specified in its charter) Delaware 333-100669-20 13-3320910 State or Other Jurisdiction (Commission (IRS Employer of Incorporation ) File Number) Identification No.) 11 Madison Ave. New York, New York 10010 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code :(212)325-2000 N/A (Former name or former address, if changed since last report.) Item 5. Other Events. This report and exhibit is being filed, pursuant to the terms of the Pooling and Servicing Agreement, dated as of June 1, 2003 among Credit Suisse First Boston Mortgage Securities Corp., as depositor, DLJ Mortgage Capital, Inc. as seller, Chase Manhattan Mortgage Corporation, as master servicer, Washington Mutual Mortgage Securities Corp. and Fifth Third Mortgage Company, as sellers and servicers, Fairbanks Capital Corp., as servicer and special servicer, Bank One, National Association, as trustee, and JPMorgan Chase Bank, as trust administrator. On August 25, 2003 distribution was made to the Certificateholders. Specific information with respect to the distribution is filed as Exhibit 99.1. Item 7. Financial Statements and Exhibits. (a) Not applicable. (b) Not applicable. (c) The following exhibits are filed as part of this report: Statement to Certificateholders on August 25, 2003 is filed as Exhibit 99.1 hereto. -2- CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. CSFB MORTGAGE-BACKED PASS-THROUGH CERTIFICATES, SERIES 2003-AR18 -------------------------------------------------------------------- SIGNATURE 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. JPMORGAN CHASE BANK, not in its individual capacity but solely as Trust Administrator under the Agreement referred to herein Date: September 3, 2003 By: /s/ Mark Volosov -------------------------------- Mark Volosov Assistant Vice President -3- INDEX TO EXHIBITS Exhibit Number Description of Exhibits 99.1 Monthly Certificateholder Statement on August 25, 2003 -4- Exhibit 99.1 Monthly Certificateholder Statement on August 25, 2003 -5- CSFB Mortgage-Backed Pass-Through Certificates, Series 2003-AR18 Statement to Certificate Holders August 25, 2003 ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- IA1 46,921,000.00 44,275,832.99 952,131.60 161,860.63 1,113,992.23 0.00 0.00 43,323,701.39 IIA1 138,640,000.00 132,251,492.77 9,953,929.91 420,493.29 10,374,423.20 0.00 0.00 122,297,562.86 IIA2 49,500,000.00 47,219,048.56 3,553,949.30 170,909.23 3,724,858.53 0.00 0.00 43,665,099.26 IIA3 123,750,000.00 118,047,621.40 8,884,873.25 412,713.86 9,297,587.11 0.00 0.00 109,162,748.15 IIA4 2,475,000.00 2,360,952.43 177,697.47 9,507.55 187,205.02 0.00 0.00 2,183,254.96 IIIA1 40,151,000.00 39,633,892.14 615,002.83 145,448.72 760,451.55 0.00 0.00 39,018,889.31 IVA1 326,090,000.00 318,600,801.06 11,178,217.04 430,730.58 11,608,947.62 0.00 0.00 307,422,584.02 IVM1 7,623,000.00 7,623,000.00 0.00 13,784.93 13,784.93 0.00 0.00 7,623,000.00 IVM2 3,557,500.00 3,557,500.00 0.00 9,037.04 9,037.04 0.00 0.00 3,557,500.00 IVM3 1,524,591.00 1,524,591.00 0.00 4,594.95 4,594.95 0.00 0.00 1,524,591.00 CB1 5,711,900.00 5,707,655.85 4,221.42 22,532.92 26,754.34 0.00 0.00 5,703,434.43 CB2 7,403,000.00 7,397,499.30 5,471.24 29,204.15 34,675.39 0.00 0.00 7,392,028.06 CB3 3,172,600.00 3,170,242.64 2,344.73 12,515.61 14,860.34 0.00 0.00 3,167,897.91 AR 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 CB4 2,115,100.00 2,113,528.40 1,563.18 8,343.87 9,907.05 0.00 0.00 2,111,965.22 CB5 1,903,600.00 1,902,185.56 1,406.87 7,509.53 8,916.40 0.00 0.00 1,900,778.69 CB6 1,269,126.00 1,268,182.99 937.96 5,006.59 5,944.55 0.00 0.00 1,267,245.03 TOTALS 761,807,517.00 736,654,027.09 35,331,746.80 1,864,193.45 37,195,940.25 0.00 0.00 701,322,280.29 IIX 311,890,000.00 297,518,162.73 0.00 193,988.51 193,988.51 0.00 0.00 275,125,410.27 IVX 338,795,091.60 332,645,978.01 0.00 899,683.39 899,683.39 0.00 0.00 321,821,650.48 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ---------------------- BEGINNING ENDING CURRENT CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU RATE --------------------------------------------------------------------------------------------------------- ---------------------- IA1 22541QEZ1 943.62509303 20.29222736 3.44964153 23.74186889 923.33286567 IA1 4.386880 % IIA1 22541QFA5 953.92017289 71.79695550 3.03298680 74.82994230 882.12321740 IIA1 3.815397 % IIA2 22541QFB3 953.92017293 71.79695556 3.45271172 75.24966727 882.12321737 IIA2 4.343397 % IIA3 22541QFC1 953.92017293 71.79695556 3.33506149 75.13201705 882.12321737 IIA3 4.195397 % IIA4 22541QFD9 953.92017374 71.79695758 3.84143434 75.63839192 882.12321616 IIA4 4.832397 % IIIA1 22541QFE7 987.12092202 15.31724814 3.62254290 18.93979104 971.80367388 IIIA1 4.403768 % IVA1 22541QKG6 977.03333761 34.27954565 1.32089478 35.60044043 942.75379196 IVA1 1.570000 % IVM1 22541QFG2 1,000.00000000 0.00000000 1.80833399 1.80833399 1,000.00000000 IVM1 2.100000 % IVM2 22541QFH0 1,000.00000000 0.00000000 2.54027829 2.54027829 1,000.00000000 IVM2 2.950000 % IVM3 22541QKK7 1,000.00000000 0.00000000 3.01389028 3.01389028 1,000.00000000 IVM3 3.500000 % CB1 22541QFJ6 999.25696353 0.73905706 3.94490800 4.68396506 998.51790648 CB1 4.737409 % CB2 22541QFK3 999.25696339 0.73905714 3.94490747 4.68396461 998.51790625 CB2 4.737409 % CB3 22541QFL1 999.25696274 0.73905629 3.94490639 4.68396268 998.51790645 CB3 4.737409 % AR 22541QFM9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 4.386880 % CB4 22541QFN7 999.25696185 0.73905725 3.94490568 4.68396293 998.51790459 CB4 4.737409 % CB5 22541QFP2 999.25696575 0.73905758 3.94490964 4.68396722 998.51790817 CB5 4.737409 % CB6 22541QFQ0 999.25696109 0.73905979 3.94491170 4.68397149 998.51790130 CB6 4.737409 % TOTALS 966.98183025 46.37883719 2.44706623 48.82590342 920.60299307 IIX 22541QKF4 953.92017291 0.00000000 0.62197733 0.62197733 882.12321738 IIX 0.782427 % IVX 22541QFR8 981.85005113 0.00000000 2.65553844 2.65553844 949.90056957 IVX 0.000000 % -------------------------------------------------------------------------------------------------------- ------------------------ IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Jon Saraniti JPMorgan Chase Bank - Structured Finance Services 4 New York Plaza, 6th Floor New York, New York 10004 Tel: (212) 623-4527 Fax: 212) 623-5930 Email: jon.c.saraniti@chase.com Section 4.04(a)(i) Scheduled Principal Payments (Total) 514,242.19 Group 1 40,649.17 Group 2 258,133.85 Group 3 0.00 Group 4 215,459.17 Principal Prepayments (Total) 34,463,620.71 Group 1 913,671.58 Group 2 22,326,077.94 Group 3 615,002.83 Group 4 10,608,868.36 Repurchase Principal (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Substitution Amounts (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Net Liquidation Proceeds (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Insurance Proceeds (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Other Principal (Total) -5.61 Group 1 0.00 Group 2 -5.61 Group 3 0.00 Group 4 0.00 Section 4.04(a)(v) Beginning Number of Loans Outstanding (Total) 1,991 Group 1 119 Group 2 715 Group 3 113 Group 4 1,044 Beginning Aggregate Loan Balances (Total) 737,994,113.52 Group 1 46,796,017.44 Group 2 316,759,997.04 Group 3 41,792,121.03 Group 4 332,645,978.01 Ending Number of Loans Outstanding (Total) 1,920 Group 1 117 Group 2 672 Group 3 112 Group 4 1,019 Ending Aggregate Loan Balances (Total) 703,016,256.23 Group 1 45,841,696.69 Group 2 294,175,790.86 Group 3 41,177,118.20 Group 4 321,821,650.48 Servicing Fees (Total, including Master Servicing Fees and PMI Fees) 286,749.10 Group 1 21,479.33 Group 2 133,092.35 Group 3 14,785.93 Group 4 117,391.49 Trust Administrator Fees (Total) 666.92 Group 1 46.10 Group 2 308.84 Group 3 86.21 Group 4 225.77 Section 4.04(a)(viii) Current Advances (Total) N/A Group 1 N/A Group 2 N/A Group 3 N/A Group 4 N/A Outstanding Advances (Total) N/A Group 1 N/A Group 2 N/A Group 3 N/A Group 4 N/A Section 4.04(a)(ix) Delinquent Mortgage Loans Group 1 Principal Category Number Balance Percentage 1 Month 0 0.00 0.00 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 0 0.00 0.00 % Group 2 Principal Category Number Balance Percentage 1 Month 0 0.00 0.00 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 0 0.00 0.00 % Group 3 Principal Category Number Balance Percentage 1 Month 0 0.00 0.00 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 0 0.00 0.00 % Group 4 Principal Category Number Balance Percentage 1 Month 3 888,578.77 0.28 % 2 Month 2 739,162.86 0.23 % 3 Month 0 0.00 0.00 % Total 5 1,627,741.63 0.51 % Group Totals Principal Category Number Balance Percentage 1 Month 3 888,578.77 0.13 % 2 Month 2 739,162.86 0.11 % 3 Month 0 0.00 0.00 % Total 5 1,627,741.63 0.24 % * Delinquent Bankruptcies are included in the table above. Bankruptcies Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 0 0.00 0.00 % Group 4 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % * Only Current Bankruptcies are reflected in the table above. Foreclosures Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 0 0.00 0.00 % Group 4 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % Section 4.04(a)(xi) REO Properties Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 0 0.00 0.00 % Group 4 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % Section 4.04(a)(xii) Current Realized Losses (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Subsequent Losses (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Subsequent Loss Recoveries (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Current Period Net Loss(Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Cumulative Realized Losses (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Section 4.04(a)(xiii) Weighted Average Term to Maturity (Deal) 354 Group 1 352 Group 2 355 Group 3 356 Group 4 354 Group 5 Trigger Event Trigger Event Occurrence (Is Rolling 3 Month Delinquency Rate > 5.25% ?) NO Rolling 3 Month Delinquency Rate 0.11484 % Group 5 O/C Reporting Targeted Overcollateralization Amount 1,693,975.46 Ending Overcollateralization Amount 1,693,975.46 Ending Overcollateralization Deficiency 0.00 Group I Monthly Excess Interest 779.93 Group II Monthly Excess Interest 5,279.33 Group III Monthly Excess Interest 696.54 Overcollateralization Release Amount 0.00 Monthly Excess Interest 1,253,569.82 Payment to Class IV-X 899,680.31 Amounts on Deposit in the Basis Risk Reserve Fund in excess of Required Amount to Class IV-X 3.08 Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

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): August 22, 2003

Credit Suisse First Boston Mortgage Securities Corp.,

CSFB Series 2003-AR18,

Mortgage-Backed Pass-Through Certificates, Series 2003-AR18

CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
(Exact name of registrant as specified in its charter)
Delaware	333-61840	13-3320910
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
11 Madison Avenue
New York, New York 10010
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code (212) 325-2000

Item 5.

Other Events.

Credit Suisse First Boston Mortgage Securities Corp. (the “Company”) entered into a Pooling and Servicing Agreement dated as of June 1, 2003 (the “Agreement”) among the Company, in its capacity as depositor (in such capacity, the “Depositor”), DLJ Mortgage Capital, Inc. as a seller (in such capacity, a “Seller”), Chase Manhattan Mortgage Corporation in its capacity as master servicer (in such capacity, the “Master Servicer”), Washington Mutual Mortgage Securities Corp., in its capacity as a seller (in such capacity a “Seller”) and in its capacity as a servicer (in such capacity, a “Servicer”), Fifth Third Mortgage Company, in its capacity as a seller (in such capacity a “Seller”) and in its capacity as a servicer (in such capacity, a “Servicer”), Fairbanks Capital Corp., in its capacity as a servicer (in such capacity, a “Servicer”) and as special servicer (in such capacity, the “Special Servicer”), Bank One, National Association, as trustee (the “Trustee”) and JPMorgan Chase Bank, as trust administrator (the “Trust Administrator”). The Certificates were issued on June 27, 2003. The Pooling and Servicing Agreement is annexed hereto as Exhibit 99.1.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

99.1

The Pooling and Servicing Agreement dated as of June 1, 2003, by and among the Company, the Sellers, the Servicers, the Special Servicer, the Master Servicer, the Trustee and the Trust Administrator.

SIGNATURES

Filings Made by the Registrant. The registrant has duly caused this form to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on August 22, 2003.

CREDIT SUISSE FIRST BOSTON MORTGAGE

SECURITIES CORP.

By: /s/ John P. Graham _________________

Name:

John P. Graham

Title:

Vice President

Exhibit Index

Exhibit

Page

99.1

Pooling and Servicing Agreement dated as of June 1, 2003,

by and among the Company, the Seller, the Servicers,

the Master Servicer, the Special Servicer, the Trustee and the

Trust Administrator.

EXHIBIT 99.1

Filing Compare · CSFB SEC CORP CSFB MORT BACKED PASS THR CERTS SER 2003 AR18