8-K 1 ffm03ff1.txt JULY 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): July 25, 2003 FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2003-FF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-104153-02 Pooling and Servicing Agreement) (Commission 54-2110371 (State or other File Number) 54-2110372 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 July 25, 2003 a distribution was made to holders of FIRST FRANKLIN MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2003-FF1 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-FF1 Trust, relating to the July 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2003-FF1 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 7/30/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2003-FF1 Trust, relating to the July 25, 2003 distribution. EX-99.1

First Franklin Mortgage Loan Trust ~~Asset~~Mortgage ~~Backed~~Pass-Through Certificates Record Date: 56/3130/03 Distribution Date: 67/25/03 FFM Series: 2003-FF1 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 A-1 32027NBX8 SEN 2.23400% ~~392~~391,~~982~~369,~~742~~350.1014 ~~731~~728,~~602~~599.8627 13,~~613~~110,~~391~~216.9683 A-2 32027NBY6 SEN 2.26500% ~~131~~130,~~801~~910,~~349~~921.7456 ~~248~~247,~~775~~094.0436 ~~890~~1,~~428~~776,557.1866 M-1 32027NBZ3 MEZ 2.68800% 27,140,000.00 60,793.60 0.00 M-2 32027NCA7 MEZ 32.~~07000~~78500% 25,633,000.00 6359,~~391~~489.8392 0.00 M-3F 32027NCB5 MEZ 5.59200% 8,500,000.00 39,610.00 0.00 M-3V 32027NCC3 MEZ 3.~~82000~~53500% 5,070,000.00 1514,~~601~~935.5237 0.00 M-4 32027NCD1 MEZ 4.~~32000~~03500% 3,920,000.00 13,~~641~~181.6000 0.00 R-1 FFM3FF1R1 SEN 0.00000% 0.00 0.00 0.00 C FFM03FF1C SEN 0.00000% 5,126,520.77 2,~~057~~063,~~824~~330.0409 0.00 P FFM03FF1P SEN 0.00000% 100.00 2572,~~415~~391.5570 0.00 DIV_CERT SEN 0.00000% 0.00 0.00 0.00 Totals ~~600~~597,~~173~~669,~~712~~892.6147 3,~~256~~299,~~656~~425.0431 24,~~503~~886,~~820~~774.1449

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~391~~388,~~369~~259,~~350~~133.1431 23,~~344~~838,~~994~~816.8210 0.00 A-2 0.00 ~~130~~129,~~910~~134,~~921~~363.5690 12,~~139~~023,~~203~~652.2202 0.00 M-1 0.00 27,140,000.00 60,793.60 0.00 M-2 0.00 25,633,000.00 6359,~~391~~489.8392 0.00 M-3F 0.00 8,500,000.00 39,610.00 0.00 M-3V 0.00 5,070,000.00 1514,~~601~~935.5237 0.00 M-4 0.00 3,920,000.00 13,~~641~~181.6000 0.00 R-1 0.00 0.00 0.00 0.00 C 0.00 5,126,520.77 2,~~057~~063,~~824~~330.0409 0.00 P 0.00 100.00 2572,~~415~~391.5570 0.00 DIV_CERT 0.00 0.00 0.00 0.00 Totals 0.00 ~~597~~592,~~669~~783,~~892~~117.4798 58,~~760~~186,~~476~~199.1880 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) A-1 394,105,000.00 ~~392~~391,~~982~~369,~~742~~350.1014 0.00 13,~~613~~110,~~391~~216.9683 0.00 0.00 A-2 133,626,000.00 ~~131~~130,~~801~~910,~~349~~921.7456 0.00 ~~890~~1,~~428~~776,557.1866 0.00 0.00 M-1 27,140,000.00 27,140,000.00 0.00 0.00 0.00 0.00 M-2 25,633,000.00 25,633,000.00 0.00 0.00 0.00 0.00 M-3F 8,500,000.00 8,500,000.00 0.00 0.00 0.00 0.00 M-3V 5,070,000.00 5,070,000.00 0.00 0.00 0.00 0.00 M-4 3,920,000.00 3,920,000.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 C 5,125,991.09 5,126,520.77 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 DIV_CERT 0.00 0.00 0.00 0.00 0.00 0.00 Totals 603,120,091.09 ~~600~~597,~~173~~669,~~712~~892.6147 0.00 24,~~503~~886,~~820~~774.1449 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 A-1 13,~~613~~110,~~391~~216.9683 ~~391~~388,~~369~~259,~~350~~133.1431 0.~~99305858~~98516673 13,~~613~~110,~~391~~216.9683 A-2 ~~890~~1,~~428~~776,557.1866 ~~130~~129,~~910~~134,~~921~~363.5690 0.~~97968151~~96638651 ~~890~~1,~~428~~776,557.1866 M-1 0.00 27,140,000.00 1.00000000 0.00 M-2 0.00 25,633,000.00 1.00000000 0.00 M-3F 0.00 8,500,000.00 1.00000000 0.00 M-3V 0.00 5,070,000.00 1.00000000 0.00 M-4 0.00 3,920,000.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 C 0.00 5,126,520.77 1.00010333 0.00 P 0.00 100.00 1.00000000 0.00 DIV_CERT 0.00 0.00 0.00000000 0.00 Totals 24,~~503~~886,~~820~~774.1449 ~~597~~592,~~669~~783,~~892~~117.4798 0.~~99096333~~98286084 24,~~503~~886,~~820~~774.1449

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 394,105,000.00 ~~997~~993.~~15238858~~05857612 0.00000000 47.~~09381246~~89184819 0.00000000 A-2 133,626,000.00 ~~986~~979.~~34509557~~68151078 0.00000000 613.~~66358478~~29499993 0.00000000 M-1 27,140,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 25,633,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3F 8,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3V 5,070,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 3,920,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 5,125,991.09 1000.10333221 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 DIV_CERT 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 47.~~09381246~~89184819 ~~993~~985.~~05857612~~16672793 0.~~99305858~~98516673 47.~~09381246~~89184819 A-2 0.00000000 613.~~66358478~~29499993 ~~979~~966.~~68151078~~38651086 0.~~97968151~~96638651 613.~~66358478~~29499993 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3V 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 1,000.10333221 1.00010333 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 DIV_CERT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 A-1 394,105,000.00 2.23400% ~~392~~391,~~982~~369,~~742~~350.1014 ~~731~~728,~~602~~599.8727 0.00 0.00 A-2 133,626,000.00 2.26500% ~~131~~130,~~801~~910,~~349~~921.7456 ~~248~~247,~~775~~094.0536 0.00 0.00 M-1 27,140,000.00 2.68800% 27,140,000.00 60,793.60 0.00 0.00 M-2 25,633,000.00 32.~~07000~~78500% 25,633,000.00 6359,~~391~~489.8392 0.00 0.00 M-3F 8,500,000.00 5.59200% 8,500,000.00 39,610.00 0.00 0.00 M-3V 5,070,000.00 3.~~82000~~53500% 5,070,000.00 1514,~~601~~935.5238 0.00 0.00 M-4 3,920,000.00 4.~~32000~~03500% 3,920,000.00 13,~~641~~181.6000 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 C 5,125,991.09 0.00000% 5,126,520.77 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 DIV_CERT 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 603,120,091.09 1,~~173~~163,~~416~~703.4753 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 A-1 0.0001 0.00 ~~731~~728,~~602~~599.8627 0.00 ~~391~~388,~~369~~259,~~350~~133.1431 A-2 0.00 0.00 ~~248~~247,~~775~~094.0436 0.00 ~~130~~129,~~910~~134,~~921~~363.5690 M-1 0.00 0.00 60,793.60 0.00 27,140,000.00 M-2 0.00 0.00 6359,~~391~~489.8392 0.00 25,633,000.00 M-3F 0.00 0.00 39,610.00 0.00 8,500,000.00 M-3V 0.00 0.00 1514,~~601~~935.5237 0.00 5,070,000.00 M-4 0.00 0.00 13,~~641~~181.6000 0.00 3,920,000.00 R-1 0.00 0.00 0.00 0.00 0.00 C 0.00 0.00 2,~~057~~063,~~824~~330.0409 0.00 5,126,520.77 P 0.00 0.00 2572,~~415~~391.5570 0.00 100.00 DIV_CERT 0.00 0.00 0.00 0.00 0.00 Totals 0.0001 0.00 3,~~256~~299,~~656~~425.0431 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 A-1 394,105,000.00 2.23400% ~~997~~993.~~15238858~~05857612 1.~~85636536~~84874404 0.00000000 0.00000000 A-2 133,626,000.00 2.26500% ~~986~~979.~~34509557~~68151078 1.~~86172639~~84914882 0.00000000 0.00000000 M-1 27,140,000.00 2.68800% 1000.00000000 2.24000000 0.00000000 0.00000000 M-2 25,633,000.00 32.~~07000~~78500% 1000.00000000 2.~~47305544~~32083330 0.00000000 0.00000000 M-3F 8,500,000.00 5.59200% 1000.00000000 4.66000000 0.00000000 0.00000000 M-3V 5,070,000.00 3.~~82000~~53500% 1000.00000000 32.~~07722288~~94583432 0.00000000 0.00000000 M-4 3,920,000.00 4.~~32000~~03500% 1000.00000000 3.~~48000000~~36250000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 C 5,125,991.09 0.00000% 1000.10333221 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 DIV_CERT 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 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 A-1 0.~~00000000~~00000003 0.00000000 1.~~85636533~~84874404 0.00000000 ~~993~~985.~~05857612~~16672793 A-2 0.00000000 0.00000000 1.~~86172631~~84914882 0.00000000 ~~979~~966.~~68151078~~38651086 M-1 0.00000000 0.00000000 2.24000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~47305544~~32083330 0.00000000 1000.00000000 M-3F 0.00000000 0.00000000 4.66000000 0.00000000 1000.00000000 M-3V 0.00000000 0.00000000 32.~~07722288~~94583235 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~48000000~~36250000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 ~~401~~402.~~44900837~~52315187 0.00000000 1000.10333221 P 0.00000000 0.00000000 ~~254155~~723917.~~50000000~~00000000 0.00000000 1000.00000000 DIV_CERT 0.00000000 0.00000000 0.00000000 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 58,~~998~~376,~~511~~160.9127 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 2572,~~415~~391.5570 Total Deposits 68,~~023~~448,~~927~~551.4697 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~263~~262,~~451~~352.2817 Payment of Interest and Principal 58,~~760~~186,~~476~~199.1880 Total Withdrawals (Pool Distribution Amount) 68,~~023~~448,~~927~~551.4697 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.0001

SERVICING FEES Gross Servicing Fee ~~250~~249,~~072~~029.3810 Back-up Master Servicing Fee 109,~~002~~961.8817 Wells Fargo 3,~~376~~361.0290 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~263~~262,~~451~~352.2817

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 ~~264~~152 0 0 0 ~~264~~152 3823,~~149~~232,~~368~~007.7280 0.00 0.00 0.00 3823,~~149~~232,~~368~~007.7280 60 Days 864 0 0 0 864 18,~~143~~864,~~701~~223.2308 0.00 0.00 0.00 18,~~143~~864,~~701~~223.2308 90 Days 05 0 0 0 05 0515,971.0051 0.00 0.00 0.00 0515,971.0051 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 ~~272~~221 0 0 0 ~~272~~221 3932,~~293~~612,~~069~~202.9539 0.00 0.00 0.00 3932,~~293~~612,~~069~~202.9539 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 74.~~489362~~340377% 0.000000% 0.000000% 0.000000% 74.~~489362~~340377% 63.~~383017~~919140% 0.000000% 0.000000% 0.000000% 63.~~383017~~919140% 60 Days 01.~~226950~~827527% 0.000000% 0.000000% 0.000000% 01.~~226950~~827527% 01.~~191360~~495357% 0.000000% 0.000000% 0.000000% 01.~~191360~~495357% 90 Days 0.~~000000~~142776% 0.000000% 0.000000% 0.000000% 0.~~000000~~142776% 0.~~000000~~087042% 0.000000% 0.000000% 0.000000% 0.~~000000~~087042% 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 76.~~716312~~310680% 0.000000% 0.000000% 0.000000% 76.~~716312~~310680% 65.~~574377~~501539% 0.000000% 0.000000% 0.000000% 65.~~574377~~501539%

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~015899~~013834% Weighted Average Net Coupon 6.~~515899~~513834% Weighted Average Pass-Through Rate 6.~~489149~~479229% Weighted Average Maturity(Stepdown Calculation ) ~~354~~353 Beginning Scheduled Collateral Loan Count 3,~~536~~525 Number Of Loans Paid In Full 1123 Ending Scheduled Collateral Loan Count 3,~~525~~502 Beginning Scheduled Collateral Balance ~~600~~597,~~173~~669,~~761~~892.8248 Ending Scheduled Collateral Balance ~~597~~592,~~669~~783,~~892~~117.4899 Ending Actual Collateral Balance at 3130-~~May~~Jun-2003 ~~597~~592,~~669~~783,~~892~~244.4846 Monthly P &I Constant 3,~~837~~822,~~492~~595.5566 Special Servicing Fee 0.00 Prepayment Penalties 2572,~~415~~391.5570 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~597~~592,~~669~~783,~~892~~117.4899 Scheduled Principal ~~328~~329,~~527~~297.3792 Unscheduled Principal 24,~~175~~557,~~292~~476.7757

Miscellaneous Reporting Credit Enhancement 12.~~561283~~613906% Stepdown Date in Effect NO Trigger Event NO Overcollaterized Target Amount 5,126,520.77 Overcollaterized Increase Amount 0.00 Overcollaterized Reduction Amount 0.00 Overcollaterization Amount 5,126,520.77 Specified Overcollaterization Amount 5,126,520.77 Overcollaterized Deficiency Amount 0.00 Overcollaterized Release Amount 0.00 Extra Principal Amount 0.00

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.~~550005~~550182 7.~~066105~~062720 7.~~061077~~061136 Weighted Average Net Rate 7.~~050005~~050182 6.~~566105~~562720 6.~~561078~~561137 ~~Pass-Through Rate 7.023255 6.539355 6.534327~~ Weighted Average Maturity ~~354~~353 353 354 ~~355~~ Beginning Loan Count 615 2,~~586~~576 46 Loans Paid In Full 04 1015 0 Ending Loan Count ~~615~~611 2,~~576~~561 46 Beginning Scheduled Balance 72,~~366~~290,~~763~~977.1631 ~~376~~375,~~916~~378,~~352~~696.2594 21,~~209~~188,~~097~~468.2798 Ending scheduled Balance 7271,~~290~~724,~~977~~516.3108 ~~375~~372,~~378~~834,~~696~~941.9434 21,~~188~~167,~~468~~916.9837 Record Date 0506/3130/2003 0506/3130/2003 0506/3130/2003 Principal And Interest Constant 520,766.10 2,~~412~~402,~~447~~927.2208 144,668.53 Scheduled Principal 65,~~458~~924.7142 193,~~004~~598.8929 19,~~869~~989.3064 Unscheduled Principal 10500,~~255~~536.6081 12,~~344~~350,~~672~~157.7631 ~~758~~562.9997 Scheduled Interest ~~455~~454,~~307~~841.3968 2,~~219~~209,~~442~~328.3379 124,~~799~~678.2389 Servicing Fees 30,~~152~~121.7925 ~~157~~156,~~048~~407.4978 8,~~837~~828.1252 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~407~~406.0765 2,~~120~~111.1849 119.3019 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 1,~~206~~204.1185 6,~~281~~256.9431 353.4814 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 423,~~541~~108.4293 2,~~053~~044,~~991~~553.7221 115,~~489~~378.3304 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 7.023432 6.535970 6.534386

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.~~564538~~562585 7.~~015899~~013834 Weighted Average Net Rate 6.~~064538~~062585 6.~~515899~~513834 ~~Pass-Through Rate 6.037788 6.489149~~ Weighted Average Maturity ~~355~~ 354 353 Beginning Loan Count ~~289~~288 3,~~536~~525 Loans Paid In Full 14 1123 Ending Loan Count ~~288~~284 3,~~525~~502 Beginning Scheduled Balance ~~129~~128,~~681~~811,~~549~~749.1425 ~~600~~597,~~173~~669,~~761~~892.8248 Ending scheduled Balance ~~128~~127,~~811~~055,~~749~~744.2520 ~~597~~592,~~669~~783,~~892~~117.4899 Record Date 0506/3130/2003 0506/3130/2003 Principal And Interest Constant ~~759~~754,~~610~~233.7095 3,~~837~~822,~~492~~595.5566 Scheduled Principal 5049,~~194~~785.4757 ~~328~~329,~~527~~297.3792 Unscheduled Principal ~~819~~1,~~605~~706,219.4248 24,~~175~~557,~~292~~476.7757 Scheduled Interest ~~709~~704,~~416~~448.2338 3,~~508~~493,~~965~~297.1874 Servicing Fees 5453,~~033~~671.9855 ~~250~~249,~~072~~029.3810 Master Servicing Fees 0.00 0.00 Trustee Fee ~~729~~724.4757 3,~~376~~361.0290 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 2,~~161~~146.3587 109,~~002~~961.8817 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest ~~652~~647,~~491~~905.4339 3,~~245~~230,~~513~~945.9057 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.035835 6.479229

Filing Compare · FINANCIAL ASSET SEC CORP FIRST FRANKLIN MORT LN TR 03 FF1