8-K 1 thb03003_aug.txt AUGUST 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): August 25, 2003 THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2003-3 Trust (Exact name of registrant as specified in its charter) 54-2120381 New York (governing law of 333-102489-15 54-2120382 Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction 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 August 25, 2003 a distribution was made to holders of THORNBURG MORTGAGE SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2003-3 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 Pass-Through Certificates, Series 2003-3 Trust, relating to the August 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. THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2003-3 Trust By: Wells Fargo Bank Minnesota, N.A., as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/6/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-3 Trust, relating to the August 25, 2003 distribution. EX-99.1

Thornburg Mortgage ~~Securities~~Home ~~Trust~~Loans, Inc. Mortgage ~~Loan~~ Pass-Through Certificates Record Date: 67/3031/03 Distribution Date: 78/25/03 THB Series: 2003-3 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 A1 885220DN0 SEN 2.~~88301~~87683% ~~204~~203,~~162~~127,~~645~~491.7564 ~~490~~487,~~501~~836.8145 1,~~035~~958,~~154~~594.1193 R 885220DV2 SEN 2.~~87505~~87312% 0.00 0.00 0.00 A2 885220DP5 SEN 4.~~11040~~10896% 112,~~496~~132,~~270~~932.0871 ~~385~~384,~~337~~641.3842 ~~363~~6,~~337~~031,885.3785 A3 885220DQ3 SEN 4.~~65869~~64970% ~~318~~304,~~746~~135,~~062~~002.0994 1,~~237~~180,~~448~~543.3055 1424,~~611~~566,~~059~~896.1593 A4 885220DR1 SEN 5.~~13508~~12893% 9694,~~922~~696,~~638~~255.3097 ~~414~~405,~~754~~462.4357 2567,~~226,382~~565.3370 B1 885220DS9 SUB 4.~~13956~~13276% 7,~~616~~614,~~705~~371.7768 26,~~274~~270.8333 2,~~334~~355.0902 B2 885220DT7 SUB 4.~~13956~~13276% 5,~~712~~710,~~279~~528.4091 19,~~705~~701.2688 1,~~750~~766.4918 B3 885220DU4 SUB 4.~~13956~~13276% 4,~~569~~568,~~623~~223.5825 15,~~763~~760.5282 1,~~400~~412.3389 B4 885220DK6 SUB 4.~~13956~~13276% 1,141,~~656~~306.1227 3,~~938~~937.2962 ~~349~~352.8599 B5 885220DL4 SUB 4.~~13956~~13276% 760,~~770~~537.8571 2,~~624~~623.3893 ~~233~~235.1322 B6 885220DM2 SUB 4.~~13956~~13276% 1,909,~~604~~019.8162 6,~~587~~586.4330 ~~585~~590.1943 Totals ~~754~~735,~~038~~795,~~256~~670.7570 2,~~602~~533,~~935~~364.6387 1833,~~242~~131,~~586~~656.0414

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~203~~201,~~127~~168,~~491~~896.6472 12,~~525~~446,~~655~~431.9238 0.00 R 0.00 0.00 0.00 0.00 A2 0.00 ~~112~~106,~~132~~101,~~932~~046.7186 ~~748~~6,~~674~~416,527.7527 0.00 A3 0.00 ~~304~~279,~~135~~568,~~002~~106.9401 1525,~~848~~747,~~507~~440.4548 0.00 A4 0.00 94,~~696~~128,~~255~~690.9726 2973,~~641,136~~028.7627 0.00 B1 0.00 7,~~614~~612,~~371~~016.6866 28,~~608~~625.9235 0.00 B2 0.00 5,~~710~~708,~~528~~762.9173 21,~~455~~468.7506 0.00 B3 0.00 4,~~568~~566,~~223~~810.2536 17,~~163~~173.8571 0.00 B4 0.00 1,~~141~~140,~~306~~953.2728 4,~~288~~290.1461 0.00 B5 0.00 760,~~537~~302.7149 2,~~857~~859.5115 0.00 B6 0.00 1,~~909~~908,~~019~~429.6219 7,~~172~~176.6273 0.00 Totals 0.00 ~~735~~702,~~795~~664,~~670~~014.7056 2035,~~845~~665,~~521~~021.6701 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) A1 206,768,000.00 ~~204~~203,~~162~~127,~~645~~491.7564 7,~~804~~463.0272 1,~~027~~951,~~350~~131.0921 0.00 0.00 R 100.00 0.00 0.00 0.00 0.00 0.00 A2 115,273,000.00 112,~~496~~132,~~270~~932.0871 20,~~300~~372.3534 ~~343~~6,~~037~~011,513.0251 0.00 0.00 A3 321,254,000.00 ~~318~~304,~~746~~135,~~062~~002.0994 ~~171~~165,~~413~~062.8450 1424,~~439~~401,~~645~~834.3143 0.00 0.00 A4 96,961,000.00 9694,~~922~~696,~~638~~255.3097 25,~~408~~521.6402 2542,~~200,973~~044.6968 0.00 0.00 B1 7,619,000.00 7,~~616~~614,~~705~~371.7768 2,~~334~~355.0902 0.00 0.00 0.00 B2 5,714,000.00 5,~~712~~710,~~279~~528.4091 1,~~750~~766.4918 0.00 0.00 0.00 B3 4,571,000.00 4,~~569~~568,~~623~~223.5825 1,~~400~~412.3389 0.00 0.00 0.00 B4 1,142,000.00 1,141,~~656~~306.1227 ~~349~~352.8599 0.00 0.00 0.00 B5 761,000.00 760,~~770~~537.8571 ~~233~~235.1322 0.00 0.00 0.00 B6 1,910,180.00 1,909,~~604~~019.8162 ~~585~~590.1943 0.00 0.00 0.00 Totals 761,973,280.00 ~~754~~735,~~038~~795,~~256~~670.7570 ~~231~~225,~~579~~132.9331 1832,~~011~~906,~~006~~523.1183 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 A1 1,~~035~~958,~~154~~594.1193 ~~203~~201,~~127~~168,~~491~~896.6472 0.~~98239327~~97292084 1,~~035~~958,~~154~~594.1193 R 0.00 0.00 0.00000000 0.00 A2 ~~363~~6,~~337~~031,885.3785 ~~112~~106,~~132~~101,~~932~~046.7186 0.~~97275973~~92043277 ~~363~~6,~~337~~031,885.3785 A3 1424,~~611~~566,~~059~~896.1593 ~~304~~279,~~135~~568,~~002~~106.9401 0.~~94671196~~87024008 1424,~~611~~566,~~059~~896.1593 A4 2567,~~226,382~~565.3370 94,~~696~~128,~~255~~690.9726 0.~~97664273~~97078919 2567,~~226,382~~565.3370 B1 2,~~334~~355.0902 7,~~614~~612,~~371~~016.6866 0.~~99939253~~99908343 2,~~334~~355.0902 B2 1,~~750~~766.4918 5,~~710~~708,~~528~~762.9173 0.~~99939253~~99908343 1,~~750~~766.4918 B3 1,~~400~~412.3389 4,~~568~~566,~~223~~810.2536 0.~~99939253~~99908343 1,~~400~~412.3389 B4 ~~349~~352.8599 1,~~141~~140,~~306~~953.2728 0.~~99939253~~99908343 ~~349~~352.8599 B5 ~~233~~235.1322 760,~~537~~302.7149 0.~~99939252~~99908343 ~~233~~235.1322 B6 ~~585~~590.1943 1,~~909~~908,~~019~~429.6219 0.~~99939253~~99908343 ~~585~~590.1943 Totals 1833,~~242~~131,~~586~~656.0414 ~~735~~702,~~795~~664,~~670~~014.7056 0.~~96564498~~92216359 1833,~~242~~131,~~586~~656.0414

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 206,768,000.00 ~~987~~982.~~39962543~~39326995 0.~~03774288~~03609707 49.~~96861260~~43633062 0.00000000 R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A2 115,273,000.00 ~~975~~972.~~91170595~~75973307 0.~~17610672~~17673124 252.~~97586616~~15023041 0.00000000 A3 321,254,000.00 ~~992~~946.~~19328659~~71195671 0.~~53357729~~51380683 4475.~~94775259~~95807190 0.00000000 A4 96,961,000.00 ~~999~~976.~~60435948~~64273234 0.~~26205010~~26320913 225.~~69957705~~59033715 0.00000000 B1 7,619,000.00 999.~~69888043~~39252920 0.~~30635123~~30909831 0.00000000 0.00000000 B2 5,714,000.00 999.~~69887994~~39252888 0.~~30635107~~30909695 0.00000000 0.00000000 B3 4,571,000.00 999.~~69887989~~39252899 0.~~30635091~~30909867 0.00000000 0.00000000 B4 1,142,000.00 999.~~69887916~~39253065 0.~~30634851~~30909807 0.00000000 0.00000000 B5 761,000.00 999.~~69888305~~39252300 0.~~30634691~~30909330 0.00000000 0.00000000 B6 1,910,180.00 999.~~69888178~~39252845 0.~~30635333~~30909652 0.00000000 0.00000000 (2) All Classes Are Per $1000 Denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 59.~~00635548~~47242770 ~~982~~972.~~39326995~~92084230 0.~~98239327~~97292084 59.~~00635548~~47242770 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A2 0.00000000 352.~~15197288~~32696165 ~~972~~920.~~75973307~~43277142 0.~~97275973~~92043277 352.~~15197288~~32696165 A3 0.00000000 4576.~~48132988~~47187873 ~~946~~870.~~71195671~~24007798 0.~~94671196~~87024008 4576.~~48132988~~47187873 A4 0.00000000 225.~~96162715~~85354627 ~~976~~970.~~64273234~~78918596 0.~~97664273~~97078919 225.~~96162715~~85354627 B1 0.00000000 0.~~30635123~~30909831 999.~~39252920~~08343090 0.~~99939253~~99908343 0.~~30635123~~30909831 B2 0.00000000 0.~~30635107~~30909695 999.~~39252888~~08343192 0.~~99939253~~99908343 0.~~30635107~~30909695 B3 0.00000000 0.~~30635091~~30909867 999.~~39252899~~08343032 0.~~99939253~~99908343 0.~~30635091~~30909867 B4 0.00000000 0.~~30634851~~30909807 999.~~39253065~~08343257 0.~~99939253~~99908343 0.~~30634851~~30909807 B5 0.00000000 0.~~30634691~~30909330 999.~~39252300~~08342970 0.~~99939252~~99908343 0.~~30634691~~30909330 B6 0.00000000 0.~~30635333~~30909652 999.~~39252845~~08343193 0.~~99939253~~99908343 0.~~30635333~~30909652 (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 A1 206,768,000.00 2.~~88301~~87683% ~~204~~203,~~162~~127,~~645~~491.7564 ~~490~~486,~~501~~969.8191 0.00 0.00 R 100.00 2.~~87505~~87312% 0.00 0.00 0.00 0.00 A2 115,273,000.00 4.~~11040~~10896% 112,~~496~~132,~~270~~932.0871 ~~385~~383,~~337~~958.3818 0.00 0.00 A3 321,254,000.00 4.~~65869~~64970% ~~318~~304,~~746~~135,~~062~~002.0994 1,~~237~~178,~~448~~446.3056 0.00 0.00 A4 96,961,000.00 5.~~13508~~12893% 9694,~~922~~696,~~638~~255.3097 ~~414~~404,~~754~~742.4335 0.00 0.00 B1 7,619,000.00 4.~~13956~~13276% 7,~~616~~614,~~705~~371.7768 26,~~274~~223.8366 0.00 0.00 B2 5,714,000.00 4.~~13956~~13276% 5,~~712~~710,~~279~~528.4091 19,~~705~~666.2689 0.00 0.00 B3 4,571,000.00 4.~~13956~~13276% 4,~~569~~568,~~623~~223.5825 15,~~763~~732.5282 0.00 0.00 B4 1,142,000.00 4.~~13956~~13276% 1,141,~~656~~306.1227 3,~~938~~930.2962 0.00 0.00 B5 761,000.00 4.~~13956~~13276% 760,~~770~~537.8571 2,~~624~~619.3827 0.00 0.00 B6 1,910,180.00 4.~~13956~~13276% 1,909,~~604~~019.8162 6,~~587~~574.4361 0.00 0.00 Totals 761,973,280.00 2,~~602~~528,~~935~~864.6387 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 A1 0.00 0.00 ~~490~~487,~~501~~836.8145 0.00 ~~203~~201,~~127~~168,~~491~~896.6472 R 0.00 0.00 0.00 0.00 0.00 A2 0.00 0.00 ~~385~~384,~~337~~641.3842 0.00 ~~112~~106,~~132~~101,~~932~~046.7186 A3 0.00 0.00 1,~~237~~180,~~448~~543.3055 0.00 ~~304~~279,~~135~~568,~~002~~106.9401 A4 0.00 0.00 ~~414~~405,~~754~~462.4357 0.00 94,~~696~~128,~~255~~690.9726 B1 0.00 0.00 26,~~274~~270.8333 0.00 7,~~614~~612,~~371~~016.6866 B2 0.00 0.00 19,~~705~~701.2688 0.00 5,~~710~~708,~~528~~762.9173 B3 0.00 0.00 15,~~763~~760.5282 0.00 4,~~568~~566,~~223~~810.2536 B4 0.00 0.00 3,~~938~~937.2962 0.00 1,~~141~~140,~~306~~953.2728 B5 0.00 0.00 2,~~624~~623.3893 0.00 760,~~537~~302.7149 B6 0.00 0.00 6,~~587~~586.4330 0.00 1,~~909~~908,~~019~~429.6219 Totals 0.00 0.00 2,~~602~~533,~~935~~364.6387 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 A1 206,768,000.00 2.~~88301~~87683% ~~987~~982.~~39962543~~39326995 2.~~37223270~~35515123 0.00000000 0.00000000 R 100.00 2.~~87505~~87312% 0.00000000 0.00000000 0.00000000 0.00000000 A2 115,273,000.00 4.~~11040~~10896% ~~975~~972.~~91170595~~75973307 3.~~34282425~~33085961 0.00000000 0.00000000 A3 321,254,000.00 4.~~65869~~64970% ~~992~~946.~~19328659~~71195671 3.~~85193118~~66827047 0.00000000 0.00000000 A4 96,961,000.00 5.~~13508~~12893% ~~999~~976.~~60435948~~64273234 4.~~27753870~~17427987 0.00000000 0.00000000 B1 7,619,000.00 4.~~13956~~13276% 999.~~69888043~~39252920 3.~~44859299~~44187689 0.00000000 0.00000000 B2 5,714,000.00 4.~~13956~~13276% 999.~~69887994~~39252888 3.~~44859293~~44187784 0.00000000 0.00000000 B3 4,571,000.00 4.~~13956~~13276% 999.~~69887989~~39252899 3.~~44859331~~44187705 0.00000000 0.00000000 B4 1,142,000.00 4.~~13956~~13276% 999.~~69887916~~39253065 3.~~44859019~~44187391 0.00000000 0.00000000 B5 761,000.00 4.~~13956~~13276% 999.~~69888305~~39252300 3.~~44859396~~44187911 0.00000000 0.00000000 B6 1,910,180.00 4.~~13956~~13276% 999.~~69888178~~39252845 3.~~44859123~~44187982 0.00000000 0.00000000 (5) All Classes Are Per $1000 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 A1 0.00000000 0.00000000 2.~~37223270~~35934211 0.00000000 ~~982~~972.~~39326995~~92084230 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A2 0.00000000 0.00000000 3.~~34282425~~33678676 0.00000000 ~~972~~920.~~75973307~~43277142 A3 0.00000000 0.00000000 3.~~85193118~~67479798 0.00000000 ~~946~~870.~~71195671~~24007798 A4 0.00000000 0.00000000 4.~~27753870~~18170780 0.00000000 ~~976~~970.~~64273234~~78918596 B1 0.00000000 0.00000000 3.~~44859299~~44800236 0.00000000 999.~~39252920~~08343090 B2 0.00000000 0.00000000 3.~~44859293~~44800140 0.00000000 999.~~39252888~~08343192 B3 0.00000000 0.00000000 3.~~44859331~~44800263 0.00000000 999.~~39252899~~08343032 B4 0.00000000 0.00000000 3.~~44859019~~44800350 0.00000000 999.~~39253065~~08343257 B5 0.00000000 0.00000000 3.~~44859396~~44800263 0.00000000 999.~~39252300~~08342970 B6 0.00000000 0.00000000 3.~~44859123~~44799966 0.00000000 999.~~39252845~~08343193 (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 2135,~~069~~860,~~589~~407.0066 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 018,595.0025 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 04,500.00 Total Deposits 2135,~~069~~883,~~589~~502.0091 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~224~~218,~~067~~481.3390 Payment of Interest and Principal 2035,~~845~~665,~~521~~021.6701 Total Withdrawals (Pool Distribution Amount) 2135,~~069~~883,~~589~~502.0091 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~210~~205,~~997~~728.3411 Master Servicing Fee- Wells Fargo 12,~~567~~263.3027 Trustee Fee - Deutsche Bank ~~502~~490.6952 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~224~~218,~~067~~481.3390

Original$ Original% Current$ Current% Bankruptcy 100,000.00 0.01312382% 100,000.00 0.01359073% Fraud 15,239,462.00 1.99999953% 15,239,462.00 2.07115407% Special Hazard 11,006,701.00 1.44449960% 8,000,000.00 1.08725837% Limit of Subordinate's Exposure to Certain Types of Losses Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 51 0 0 0 51 3892,~~057,250~~500.00 0.00 0.00 0.00 3892,~~057,250~~500.00 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 51 0 0 0 51 3892,~~057,250~~500.00 0.00 0.00 0.00 3892,~~057,250~~500.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~312336~~265252% 0.000000% 0.000000% 0.000000% 10.~~312336~~265252% 10.~~461424~~430665% 0.000000% 0.000000% 0.000000% 10.~~461424~~430665% 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 10.~~312336~~265252% 0.000000% 0.000000% 0.000000% 10.~~312336~~265252% 10.~~461424~~430665% 0.000000% 0.000000% 0.000000% 10.~~461424~~430665% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 10 0 0 0 10 ~~362,553~~0.6600 0.00 0.00 0.00 ~~362,553~~0.6600 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 10 0 0 0 10 ~~362,553~~0.6600 0.00 0.00 0.00 ~~362,553~~0.6600 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~409836~~000000% 0.000000% 0.000000% 0.000000% 0.~~409836~~000000% 0.~~313815~~000000% 0.000000% 0.000000% 0.000000% 0.~~313815~~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.~~409836~~000000% 0.000000% 0.000000% 0.000000% 0.~~409836~~000000% 0.~~313815~~000000% 0.000000% 0.000000% 0.000000% 0.~~313815~~000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 47 0 0 0 47 13,~~994~~426,~~982~~530.8828 0.00 0.00 0.00 13,~~994~~426,~~982~~530.8828 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 47 0 0 0 47 13,~~994~~426,~~982~~530.8828 0.00 0.00 0.00 13,~~994~~426,~~982~~530.8828 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~682594~~272727% 0.000000% 0.000000% 0.000000% 01.~~682594~~272727% 01.~~635977~~185258% 0.000000% 0.000000% 0.000000% 01.~~635977~~185258% 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 01.~~682594~~272727% 0.000000% 0.000000% 0.000000% 01.~~682594~~272727% 01.~~635977~~185258% 0.000000% 0.000000% 0.000000% 01.~~635977~~185258% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 20 0 0 0 20 ~~1,451,473~~0.6300 0.00 0.00 0.00 ~~1,451,473~~0.6300 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 20 0 0 0 20 ~~1,451,473~~0.6300 0.00 0.00 0.00 ~~1,451,473~~0.6300 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~129944~~000000% 0.000000% 0.000000% 0.000000% 10.~~129944~~000000% 10.~~487784~~000000% 0.000000% 0.000000% 0.000000% 10.~~487784~~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 10.~~129944~~000000% 0.000000% 0.000000% 0.000000% 10.~~129944~~000000% 10.~~487784~~000000% 0.000000% 0.000000% 0.000000% 10.~~487784~~000000%

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~498980~~480614% Weighted Average Net Coupon 4.~~163193~~145094% Weighted Average Pass-Through Rate 4.~~142393~~124294% Weighted Average Maturity(Stepdown Calculation ) ~~358~~357 Beginning Scheduled Collateral Loan Count 1,~~414~~388 Number Of Loans Paid In Full 2651 Ending Scheduled Collateral Loan Count 1,~~388~~337 Beginning Scheduled Collateral Balance ~~754~~735,~~038~~795,~~257~~671.1106 Ending Scheduled Collateral Balance ~~735~~702,~~795~~664,~~671~~014.0692 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2003 ~~735~~702,~~975~~821,~~129~~302.7438 Monthly P &I Constant 32,~~058~~972,~~582~~479.3804 Special Servicing Fee 0.00 Prepayment Penalties 04,500.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 2035,~~763~~579,~~974~~060.8741 Ending Scheduled Balance for Premium Loans ~~735~~702,~~795~~664,~~671~~014.0692 Scheduled Principal ~~231~~225,~~579~~132.9431 Unscheduled Principal 1832,~~011~~906,~~006~~523.1183

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~274875~~269042 4.~~399975~~397885 5.~~024578~~014899 Weighted Average Net Rate 2.~~903806~~897633 4.~~131202~~129760 4.~~679486~~670498 Weighted Average Maturity ~~357~~356 ~~359~~ 358 357 Beginning Loan Count ~~383~~381 ~~245~~244 ~~607~~586 Loans Paid In Full 24 110 2136 Ending Loan Count ~~381~~377 ~~244~~234 ~~586~~550 Beginning Scheduled Balance ~~210~~209,~~228~~193,~~480~~094.7073 115,~~878~~514,~~195~~247.1348 ~~328~~313,~~165~~549,~~428~~304.9226 Ending scheduled Balance ~~209~~207,~~193~~234,~~094~~276.7393 ~~115~~109,~~514~~481,~~247~~747.4831 ~~313~~288,~~549~~977,~~304~~297.2693 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant ~~581~~577,~~762~~570.5477 ~~445~~444,~~794~~335.9233 1,~~550~~480,~~556~~520.8031 Scheduled Principal 87,~~035~~686.8859 20,~~910~~986.6366 ~~176~~170,~~479~~171.3590 Unscheduled Principal 1,~~027~~951,~~350~~131.0921 ~~343~~6,~~037~~011,513.0251 1424,~~439~~401,~~645~~834.3143 Scheduled Interest ~~573~~569,~~726~~884.6618 ~~424~~423,~~884~~348.2967 1,~~374~~310,~~077~~348.4541 Servicing Fees 6564,~~007~~746.7183 25,~~954~~810.1419 9489,~~372~~988.7295 Master Servicing Fees 3,~~503~~486.8156 1,~~931~~925.3123 5,~~469~~225.4083 Trustee Fee ~~140~~139.1546 77.2501 ~~218~~209.7702 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 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 ~~505~~501,~~074~~511.9933 ~~396~~395,~~921~~536.5924 1,~~274~~214,~~016~~924.5661 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 2.~~883006~~876833 4.~~110402~~108961 4.~~658686~~649698

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~464547~~459544 4.~~498980~~480614 Weighted Average Net Rate 5.~~155878~~149734 4.~~163193~~145094 Weighted Average Maturity 356 357 ~~358~~ Beginning Loan Count ~~179~~177 1,~~414~~388 Loans Paid In Full 21 2651 Ending Loan Count ~~177~~176 1,~~388~~337 Beginning Scheduled Balance 9997,~~766~~539,~~152~~024.3659 ~~754~~735,~~038~~795,~~257~~671.1106 Ending scheduled Balance 9796,~~539~~970,~~024~~692.5975 ~~735~~702,~~795~~664,~~671~~014.0692 Record Date 0607/3031/2003 0607/3031/2003 Principal And Interest Constant ~~480~~470,~~468~~052.1263 32,~~058~~972,~~582~~479.3804 Scheduled Principal 26,~~154~~287.0816 ~~231~~225,~~579~~132.9431 Unscheduled Principal 2542,~~200,973~~044.6968 1832,~~011~~906,~~006~~523.1183 Scheduled Interest ~~454~~443,~~314~~765.0447 2,~~827~~747,~~002~~346.4473 Servicing Fees 25,~~662~~182.2714 ~~210~~205,~~996~~728.8411 Master Servicing Fees 1,~~662~~625.7865 12,~~567~~263.3027 Trustee Fee 6665.5203 ~~502~~490.6952 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 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 ~~426~~416,~~922~~892.4765 2,~~602~~528,~~935~~864.6183 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 5.~~135078~~128934 4.~~142393~~124294

Filing Compare · STRUCTURED ASSET SECURITIES CORP THORN MORT SEC TR 2003-3