8-K 1 mlm03wm1.txt JUNE 8-K 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): June 25, 2003 MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2003-WMC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-101760-03 54-2102398 Pooling and Servicing Agreement) (Commission 54-2102399 (State or other File Number) 54-2102397 jurisdiction 54-6535292 of Incorporation) 54-6535291 54-6535287 IRS EIN c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, Maryland 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 June 25, 2003 a distribution was made to holders of MERRILL LYNCH MORTGAGE INVESTORS, INC., Mortgage Loan Asset-Backed Certificates, Series 2003-WMC1 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 Mortgage Loan Asset-Backed Certificates, Series 2003-WMC1 Trust, relating to the June 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. MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2003-WMC1 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 7/1/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2003-WMC1 Trust, relating to the June 25, 2003 distribution.

Merrill Lynch Mortgage Loans, Inc. Mortgage Loan Asset-Backed Certificates Record Date: 45/3031/03 Distribution Date: 56/2725/03 MLM Series: 2003-~~WM1~~WMC1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution R 58992903R Sen 1.72000% 0.00 0.00 0.00 A1 589929J25 Sen 1.72000% ~~292~~287,~~502~~101,~~157~~846.8596 ~~447~~397,~~203~~795.3056 54,~~400~~979,~~310~~973.8993 A2 589929J33 Sen 1.68000% ~~332~~324,~~148~~159,~~891~~454.0357 ~~496~~438,~~009~~695.0180 79,~~989~~974,~~436~~870.4642 M1 589929J41 Sub 2.17000% 56,592,000.00 ~~109~~98,~~159~~925.6896 0.00 M2 589929J58 Sub 3.27000% 39,289,000.00 ~~114~~103,~~200~~493.0377 0.00 B1 589929J66 Sub 4.32000% 30,325,000.00 ~~116~~105,~~448~~531.00 0.00 B2 589929J74 Sub 4.32000% 11,906,000.00 4541,~~719~~432.0488 0.00 C 58992903C Sub 0.00000% 12,699,647.00 3,~~541~~599,~~973~~161.5183 0.00 P 58992903P Sub 0.00000% 0.00 ~~173~~179,~~371~~209.7137 0.00 S 589929J90 Sub 0.00063% 0.00 ~~427~~380.1531 0.00 Totals ~~775~~762,~~462~~072,~~695~~948.8853 54,~~044~~964,~~511~~626.4348 1314,~~389~~954,~~747~~844.35

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses R 0.00 0.00 0.00 0.00 A1 0.00 ~~287~~282,~~101~~121,~~846~~873.9603 5,~~847~~377,~~514~~769.1949 0.00 A2 0.00 ~~324~~314,~~159~~184,~~454~~584.5715 810,~~485~~413,~~445~~566.4722 0.00 M1 0.00 56,592,000.00 ~~109~~98,~~159~~925.6896 0.00 M2 0.00 39,289,000.00 ~~114~~103,~~200~~493.0377 0.00 B1 0.00 30,325,000.00 ~~116~~105,~~448~~531.00 0.00 B2 0.00 11,906,000.00 4541,~~719~~432.0488 0.00 C 0.00 12,699,647.00 3,~~541~~599,~~973~~161.5183 0.00 P 0.00 0.00 ~~173~~179,~~371~~209.7137 0.00 S 0.00 0.00 ~~427~~380.1531 0.00 Totals 0.00 ~~762~~747,~~072~~118,~~948~~104.53 18 19,~~434~~919,~~258~~470.7883 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) R 100.00 0.00 0.00 0.00 0.00 0.00 A1 298,080,000.00 ~~292~~287,~~502~~101,~~157~~846.8596 0.00 54,~~400~~979,~~310~~973.8993 0.00 0.00 A2 343,195,000.00 ~~332~~324,~~148~~159,~~891~~454.0357 0.00 79,~~989~~974,~~436~~870.4642 0.00 0.00 M1 56,592,000.00 56,592,000.00 0.00 0.00 0.00 0.00 M2 39,289,000.00 39,289,000.00 0.00 0.00 0.00 0.00 B1 30,325,000.00 30,325,000.00 0.00 0.00 0.00 0.00 B2 11,906,000.00 11,906,000.00 0.00 0.00 0.00 0.00 C 12,673,442.37 12,699,647.00 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 S 0.00 0.00 0.00 0.00 0.00 0.00 Totals 792,060,542.37 ~~775~~762,~~462~~072,~~695~~948.8853 0.00 1314,~~389~~954,~~747~~844.35 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 R 0.00 0.00 0.00000000 0.00 A1 54,~~400~~979,~~310~~973.8993 ~~287~~282,~~101~~121,~~846~~873.9603 0.~~96317045~~94646361 54,~~400~~979,~~310~~973.8993 A2 79,~~989~~974,~~436~~870.4642 ~~324~~314,~~159~~184,~~454~~584.5715 0.~~94453432~~91546958 79,~~989~~974,~~436~~870.4642 M1 0.00 56,592,000.00 1.00000000 0.00 M2 0.00 39,289,000.00 1.00000000 0.00 B1 0.00 30,325,000.00 1.00000000 0.00 B2 0.00 11,906,000.00 1.00000000 0.00 C 0.00 12,699,647.00 1.00206768 0.00 P 0.00 0.00 0.00000000 0.00 S 0.00 0.00 0.00000000 0.00 Totals 1314,~~389~~954,~~747~~844.35 ~~762~~747,~~072~~118,~~948~~104.5318 0.~~96213977~~94325883 1314,~~389~~954,~~747~~844.35

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A1 298,080,000.00 ~~981~~963.~~28743240~~17044740 0.00000000 1816.~~11698500~~70683686 0.00000000 A2 343,195,000.00 ~~967~~944.~~81389889~~53431597 0.00000000 2329.~~27958292~~06473119 0.00000000 M1 56,592,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 39,289,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 30,325,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 11,906,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 12,673,442.37 1002.06768053 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 1816.~~11698500~~70683686 ~~963~~946.~~17044740~~46361054 0.~~96317045~~94646361 1816.~~11698500~~70683686 A2 0.00000000 2329.~~27958292~~06473119 ~~944~~915.~~53431597~~46958478 0.~~94453432~~91546958 2329.~~27958292~~06473119 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 0.00000000 0.00000000 1,002.06768053 1.00206768 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, ~~Bankruptcy~~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 R 100.00 1.72000% 0.00 0.00 0.00 0.00 A1 298,080,000.00 1.72000% ~~292~~287,~~502~~101,~~157~~846.8596 ~~447~~397,~~203~~795.3056 0.00 0.00 A2 343,195,000.00 1.68000% ~~332~~324,~~148~~159,~~891~~454.0357 ~~496~~438,~~009~~695.0180 0.00 0.00 M1 56,592,000.00 2.17000% 56,592,000.00 ~~109~~98,~~159~~925.6896 0.00 0.00 M2 39,289,000.00 3.27000% 39,289,000.00 ~~114~~103,~~200~~493.0377 0.00 0.00 B1 30,325,000.00 4.32000% 30,325,000.00 ~~116~~105,~~448~~531.00 0.00 0.00 B2 11,906,000.00 4.32000% 11,906,000.00 4541,~~719~~432.0488 0.00 0.00 C 12,673,442.37 0.00000% 12,699,647.00 0.00 0.00 0.00 P 0.00 0.00000% 0.01 0.00 0.00 0.00 S 0.00 0.00063% ~~762~~749,~~763~~373,~~048~~301.8853 ~~427~~380.1531 0.00 0.00 Totals 792,060,542.37 1,~~329~~186,~~166~~255.2128 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 R 0.00 0.00 0.00 0.00 0.00 A1 0.00 0.00 ~~447~~397,~~203~~795.3056 0.00 ~~287~~282,~~101~~121,~~846~~873.9603 A2 0.00 0.00 ~~496~~438,~~009~~695.0180 0.00 ~~324~~314,~~159~~184,~~454~~584.5715 M1 0.00 0.00 ~~109~~98,~~159~~925.6896 0.00 56,592,000.00 M2 0.00 0.00 ~~114~~103,~~200~~493.0377 0.00 39,289,000.00 B1 0.00 0.00 ~~116~~105,~~448~~531.00 0.00 30,325,000.00 B2 0.00 0.00 4541,~~719~~432.0488 0.00 11,906,000.00 C 0.00 0.00 3,~~541~~599,~~973~~161.5183 0.00 12,699,647.00 P 0.00 0.00 ~~173~~179,~~371~~209.7137 0.00 0.01 S 0.00 0.00 ~~427~~380.1531 0.00 ~~749~~734,~~373~~418,~~301~~457.5318 Totals 0.00 0.00 54,~~044~~964,~~511~~626.4348 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 R 100.00 1.72000% 0.00000000 0.00000000 0.00000000 0.00000000 A1 298,080,000.00 1.72000% ~~981~~963.~~28743240~~17044740 1.~~50027946~~33452617 0.00000000 0.00000000 A2 343,195,000.00 1.68000% ~~967~~944.~~81389889~~53431597 1.~~44526875~~27826979 0.00000000 0.00000000 M1 56,592,000.00 2.17000% 1000.00000000 1.~~92888889~~74805556 0.00000000 0.00000000 M2 39,289,000.00 3.27000% 1000.00000000 2.~~90666675~~63416656 0.00000000 0.00000000 B1 30,325,000.00 4.32000% 1000.00000000 3.~~84000000~~48000000 0.00000000 0.00000000 B2 11,906,000.00 4.32000% 1000.00000000 3.~~84000000~~48000000 0.00000000 0.00000000 C 12,673,442.37 0.00000% 1002.06768053 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.00063% ~~978~~961.~~67035377~~49051162 0.~~00054806~~00048796 0.00000000 0.00000000 Per $1000 denomination. class B and C certificates are 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 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 0.00000000 0.00000000 1.~~50027946~~33452617 0.00000000 ~~963~~946.~~17044740~~46361054 A2 0.00000000 0.00000000 1.~~44526875~~27826979 0.00000000 ~~944~~915.~~53431597~~46958478 M1 0.00000000 0.00000000 1.~~92888889~~74805556 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~90666675~~63416656 0.00000000 1000.00000000 B1 0.00000000 0.00000000 3.~~84000000~~48000000 0.00000000 1000.00000000 B2 0.00000000 0.00000000 3.~~84000000~~48000000 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~279~~283.~~47998709~~99244064 0.00000000 1002.06768053 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 S 0.00000000 0.00000000 0.~~00054806~~00048796 0.00000000 ~~961~~942.~~49051162~~30255695 (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 1820,~~461~~039,~~457~~417.6529 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~135~~167,~~786~~179.3764 Realized ~~Losses~~Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~173~~179,~~371~~209.7137 Total Deposits 1820,~~770~~385,~~615~~806.7330 Withdrawals Reimbursement for Servicer Advances 0135,786.0037 Payment of Service Fee ~~336~~330,~~356~~549.9510 Payment of Interest and Principal 1819,~~434~~919,~~258~~470.7883 Total Withdrawals (Pool Distribution Amount) 1820,~~770~~385,~~615~~806.7330 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~323~~317,~~109~~530.4638 Credit Risk Manager Fee 109,~~016~~843.3944 Trustee Fee 3,~~231~~175.1028 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~336~~330,~~356~~549.9510

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 200 0 0 0 200 33,~~770~~079,~~520~~075.4406 0.00 0.00 0.00 33,~~770~~079,~~520~~075.4406 60 Days 6556 0 0 0 6556 129,~~776~~266,~~450~~656.9730 0.00 0.00 0.00 129,~~776~~266,~~450~~656.9730 90 Days 138 0 0 0 138 ~~165~~8,~~219~~075,562.5918 0.00 0.00 0.00 ~~165~~8,~~219~~075,562.5918 120 Days 02 0 0 0 02 0519,776.0049 0.00 0.00 0.00 0519,776.0049 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 ~~266~~296 0 0 0 ~~266~~296 4650,~~712~~941,~~191~~070.0003 0.00 0.00 0.00 4650,~~712~~941,~~191~~070.0003 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 4.~~256225~~322455% 0.000000% 0.000000% 0.000000% 4.~~256225~~322455% 4.~~428675~~424808% 0.000000% 0.000000% 0.000000% 4.~~428675~~424808% 60 Days 1.~~383273~~210287% 0.000000% 0.000000% 0.000000% 1.~~383273~~210287% 1.~~675507~~239550% 0.000000% 0.000000% 0.000000% 1.~~675507~~239550% 90 Days 0.~~021281~~821266% 0.000000% 0.000000% 0.000000% 0.~~021281~~821266% 01.~~021667~~080224% 0.000000% 0.000000% 0.000000% 01.~~021667~~080224% 120 Days 0.~~000000~~043225% 0.000000% 0.000000% 0.000000% 0.~~000000~~043225% 0.~~000000~~069528% 0.000000% 0.000000% 0.000000% 0.~~000000~~069528% 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 56.~~660779~~397234% 0.000000% 0.000000% 0.000000% 56.~~660779~~397234% 6.~~125850~~814110% 0.000000% 0.000000% 0.000000% 6.~~125850~~814110%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~135~~167,~~786~~179.3764

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.~~058410~~055869% Weighted Average Net Coupon 7.~~558410~~555869% Weighted Average Pass-Through Rate 7.~~537909~~535369% Weighted Average Maturity (Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 4,~~762~~699 Number Of Loans Paid In Full 6372 Ending Scheduled Collateral Loan Count 4,~~699~~627 Beginning Scheduled Collateral Balance ~~775~~762,~~462~~072,~~695~~948.8853 Ending Scheduled Collateral Balance ~~762~~747,~~072~~118,~~948~~104.5318 Ending Actual Collateral Balance at 3031-~~Apr~~May-2003 ~~762~~747,~~542~~582,~~248~~204.4321 Monthly P &I Constant 5,~~767~~670,~~634~~379.7412 Special Servicing Fee 0.00 Prepayment Penalties ~~173~~179,~~371~~209.7137 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~762~~747,~~072~~118,~~948~~104.5318 Scheduled Principal ~~558~~552,~~394~~671.8428 Unscheduled Principal 1214,~~831~~402,~~352~~173.5107 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 12,699,647.00 Overcollateralized Amount 12,699,647.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 3,~~541~~599,~~973~~161.5183

Filing Compare · MERRILL LYNCH MORT INV INC MORT LN AST BCK CE SER 2003-WMC1