8-K 1 opt03001.txt MARCH 8K 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): March 25, 2003 OPTION ONE MORTGAGE ACCEPTANCE CORPORATION Asset-Backed Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-82832-06 54-2090852 Pooling and Servicing Agreement) (Commission 54-2090853 (State or other File Number) 54-2090854 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On March 25, 2003 a distribution was made to holders of OPTION ONE MORTGAGE ACCEPTANCE CORPORATION, Asset-Backed Certificates, Series 2003-1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2003-1 Trust, relating to the March 25, 2003 distribution. 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. OPTION ONE MORTGAGE ACCEPTANCE CORPORATION Asset-Backed Certificates, Series 2003-1 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 4/1/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Certificates, Series 2003-1 Trust, relating to the March 25, 2003 distribution.

(7) Bankruptcy and Foreclosure information is included in the amount reported in the Delinquent column. The total column is overstated by these amounts. All 90+ delinquencies are reported in the 90 day delinquency field.

Class A-1 1,099,999,900.00 68.74999375% 1,092,251,904.13 68.87774662% 31.122247% 0.000000% Class A-2 191,999,900.00 11.99999375% 192,000,000.00 12.10758004% 56.770167% 0.000000% Class M-1 119,999,900.00 7.49999375% 120,000,000.00 7.56723752% 4.540343% 0.000000% Class M-2 59,999,900.00 3.74999375% 60,000,000.00 3.78361876% 3.783619% 0.000000% Class M-3 23,999,900.00 1.49999375% 24,000,000.00 1.51344750% 2.270171% 0.000000% Class M-4 7,999,900.00 0.49999375% 8,000,000.00 0.50448250% 1.008965% 0.000000% Class C 0.00 0.00000000% 0.00 0.00000000% 0.504483% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

OPTION ONE MORT ACCEPT CORP ASSET BACKED CERTS SER 2003 1 8-K