8-K 1 ace03fm1_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 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset-Backed Pass-Through Certs., Series 2003-FM1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-45458-08 Pooling and Servicing Agreement) (Commission Pending (State or other File Number) IRS EIN 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 ACE SECURITIES CORP., HOME EQUITY LOAN TRUST, Asset-Backed Pass-Through Certs., Series 2003-FM1 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 Pass-Through Certs., Series 2003-FM1 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. ACE SECURITIES CORP.HOME EQUITY LOAN TRUST Asset-Backed Pass-Through Certs., Series 2003-FM1 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: 9/4/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Pass-Through Certs., Series 2003-FM1 Trust, relating to the August 25, 2003 distribution. EX-99.1

ACE Securities Corporation Home Equity Loan Trust Asset -Backed Pass-Through Certificates Record Date: 67/3031/03 Distribution Date: 78/25/03 ACE Series: 2003-FM1 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 004421BN2 SEN 1.~~37500~~44000% ~~291~~285,~~770~~910,~~246~~426.5948 ~~334~~354,~~320~~528.0793 58,~~859~~948,~~820~~255.1197 A-2 004421BP7 SEN 1.~~40500~~47000% 64,~~814~~074,~~566~~485.6531 7581,~~887~~107.0662 ~~740~~2,~~081~~823,381.3433 A-IO 004421BQ5 SEN 5.50000% 0.00 208,289.58 0.00 M-1 004421BR3 MEZ 1.~~89500~~96000% 27,267,000.00 4346,~~059~~020.1464 0.00 M-2 004421BS1 MEZ 2.~~88500~~95000% 26,131,000.00 6266,~~823~~380.2800 0.00 M-3 004421BT9 MEZ 3.~~16500~~23000% 4,544,000.00 1112,~~984~~638.8063 0.00 M-4 004421BU6 MEZ 4.~~53500~~60000% 7,953,000.00 3031,~~055~~502.7172 0.00 M-5 004421BV4 MEZ 4.~~53500~~60000% 9,089,000.00 3436,~~348~~002.8554 0.00 M-6 004421BW2 MEZ 4.~~53500~~60000% 4,544,000.00 17,~~172~~999.5329 0.00 CE ACE03F1CE SUB 0.00000% 9,089,206.00 21,~~045~~965,~~360~~482.9550 0.00 P ACE03FM1P SEN 0.00000% 100.00 ~~185~~324,~~416~~636.0264 0.00 R-III ACE03F1R1 SEN 0.00000% 0.00 0.00 0.00 Totals ~~445~~438,~~202~~602,~~119~~217.2479 3,~~048~~144,~~717~~589.9909 611,~~599~~771,~~901~~637.4530

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~285~~276,~~910~~962,~~426~~170.4851 69,~~194~~302,~~140~~784.1890 0.00 A-2 0.00 6461,~~074~~251,~~485~~103.3198 ~~815~~2,~~968~~904,488.4095 0.00 A-IO 0.00 0.00 208,289.58 0.00 M-1 0.00 27,267,000.00 4346,~~059~~020.1464 0.00 M-2 0.00 26,131,000.00 6266,~~823~~380.2800 0.00 M-3 0.00 4,544,000.00 1112,~~984~~638.8063 0.00 M-4 0.00 7,953,000.00 3031,~~055~~502.7172 0.00 M-5 0.00 9,089,000.00 3436,~~348~~002.8554 0.00 M-6 0.00 4,544,000.00 17,~~172~~999.5329 0.00 CE 0.00 9,089,206.00 21,~~045~~965,~~360~~482.9550 0.00 P 0.00 100.00 ~~185~~324,~~416~~636.0264 0.00 R-III 0.00 0.00 0.00 0.00 Totals 0.00 ~~438~~426,~~602~~830,~~217~~580.7949 914,~~648~~916,~~619~~226.4439 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-1 298,374,000.00 ~~291~~285,~~770~~910,~~246~~426.5948 0.00 58,~~859~~948,~~820~~255.1197 0.00 0.00 A-2 67,458,000.00 64,~~814~~074,~~566~~485.6531 0.00 ~~740~~2,~~081~~823,381.3433 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 27,267,000.00 27,267,000.00 0.00 0.00 0.00 0.00 M-2 26,131,000.00 26,131,000.00 0.00 0.00 0.00 0.00 M-3 4,544,000.00 4,544,000.00 0.00 0.00 0.00 0.00 M-4 7,953,000.00 7,953,000.00 0.00 0.00 0.00 0.00 M-5 9,089,000.00 9,089,000.00 0.00 0.00 0.00 0.00 M-6 4,544,000.00 4,544,000.00 0.00 0.00 0.00 0.00 CE 9,089,206.86 9,089,206.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 0.00 Totals 454,449,306.86 ~~445~~438,~~202~~602,~~119~~217.2479 0.00 611,~~599~~771,~~901~~637.4530 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 58,~~859~~948,~~820~~255.1197 ~~285~~276,~~910~~962,~~426~~170.4851 0.~~95822835~~92823829 58,~~859~~948,~~820~~255.1197 A-2 ~~740~~2,~~081~~823,381.3433 6461,~~074~~251,~~485~~103.3198 0.~~94984265~~90798873 ~~740~~2,~~081~~823,381.3433 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 27,267,000.00 1.00000000 0.00 M-2 0.00 26,131,000.00 1.00000000 0.00 M-3 0.00 4,544,000.00 1.00000000 0.00 M-4 0.00 7,953,000.00 1.00000000 0.00 M-5 0.00 9,089,000.00 1.00000000 0.00 M-6 0.00 4,544,000.00 1.00000000 0.00 CE 0.00 9,089,206.00 0.99999991 0.00 P 0.00 100.00 1.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 Totals 611,~~599~~771,~~901~~637.4530 ~~438~~426,~~602~~830,~~217~~580.7949 0.~~96512903~~93922595 611,~~599~~771,~~901~~637.4530

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 298,374,000.00 ~~977~~958.~~86753065~~22835260 0.00000000 1929.~~63917805~~99006606 0.00000000 A-2 67,458,000.00 ~~960~~949.~~81364182~~84264743 0.00000000 1041.~~97099440~~85391399 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 27,267,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 26,131,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 4,544,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 7,953,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 9,089,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 4,544,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 9,089,206.86 999.99990538 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-III 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 1929.~~63917805~~99006606 ~~958~~928.~~22835260~~23828655 0.~~95822835~~92823829 1929.~~63917805~~99006606 A-2 0.00000000 1041.~~97099440~~85391399 ~~949~~907.~~84264743~~98873343 0.~~94984265~~90798873 1041.~~97099440~~85391399 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 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-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 999.99990538 0.99999991 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-III 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-1 298,374,000.00 1.~~37500~~44000% ~~291~~285,~~770~~910,~~246~~426.5948 ~~334~~354,~~320~~528.0793 0.00 0.00 A-2 67,458,000.00 1.~~40500~~47000% 64,~~814~~074,~~566~~485.6531 7581,~~887~~107.0662 0.00 0.00 A-IO 0.00 5.50000% 45,445,000.00 208,289.58 0.00 0.00 M-1 27,267,000.00 1.~~89500~~96000% 27,267,000.00 4346,~~059~~020.1464 0.00 0.00 M-2 26,131,000.00 2.~~88500~~95000% 26,131,000.00 6266,~~823~~380.2800 0.00 0.00 M-3 4,544,000.00 3.~~16500~~23000% 4,544,000.00 1112,~~984~~638.8063 0.00 0.00 M-4 7,953,000.00 4.~~53500~~60000% 7,953,000.00 3031,~~055~~502.7172 0.00 0.00 M-5 9,089,000.00 4.~~53500~~60000% 9,089,000.00 3436,~~348~~002.8554 0.00 0.00 M-6 4,544,000.00 4.~~53500~~60000% 4,544,000.00 17,~~172~~999.5329 0.00 0.00 CE 9,089,206.86 0.00000% 9,089,206.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-III 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 454,449,306.86 ~~817~~854,~~941~~469.0295 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 0.00 0.00 ~~334~~354,~~320~~528.0793 0.00 ~~285~~276,~~910~~962,~~426~~170.4851 A-2 0.00 0.00 7581,~~887~~107.0662 0.00 6461,~~074~~251,~~485~~103.3198 A-IO 0.00 0.00 208,289.58 0.00 45,445,000.00 M-1 0.00 0.00 4346,~~059~~020.1464 0.00 27,267,000.00 M-2 0.00 0.00 6266,~~823~~380.2800 0.00 26,131,000.00 M-3 0.00 0.00 1112,~~984~~638.8063 0.00 4,544,000.00 M-4 0.00 0.00 3031,~~055~~502.7172 0.00 7,953,000.00 M-5 0.00 0.00 3436,~~348~~002.8554 0.00 9,089,000.00 M-6 0.00 0.00 17,~~172~~999.5329 0.00 4,544,000.00 CE 0.00 0.00 21,~~045~~965,~~360~~482.9550 0.00 9,089,206.00 P 0.00 0.00 ~~185~~324,~~416~~636.0264 0.00 100.00 R-III 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 3,~~048~~144,~~717~~589.9909 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-1 298,374,000.00 1.~~37500~~44000% ~~977~~958.~~86753065~~22835260 1.~~12047320~~18820316 0.00000000 0.00000000 A-2 67,458,000.00 1.~~40500~~47000% ~~960~~949.~~81364182~~84264743 1.~~12495271~~20234249 0.00000000 0.00000000 A-IO 0.00 5.50000% 1000.00000000 4.58333326 0.00000000 0.00000000 M-1 27,267,000.00 1.~~89500~~96000% 1000.00000000 1.~~57916676~~68777790 0.00000000 0.00000000 M-2 26,131,000.00 2.~~88500~~95000% 1000.00000000 2.~~40416670~~54027783 0.00000000 0.00000000 M-3 4,544,000.00 3.~~16500~~23000% 1000.00000000 2.~~63750000~~78138864 0.00000000 0.00000000 M-4 7,953,000.00 4.~~53500~~60000% 1000.00000000 3.~~77916635~~96111153 0.00000000 0.00000000 M-5 9,089,000.00 4.~~53500~~60000% 1000.00000000 3.~~77916713~~96111123 0.00000000 0.00000000 M-6 4,544,000.00 4.~~53500~~60000% 1000.00000000 3.~~77916593~~96111136 0.00000000 0.00000000 CE 9,089,206.86 0.00000% 999.99990538 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-III 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 0.00000000 1.~~12047320~~18820316 0.00000000 ~~958~~928.~~22835260~~23828655 A-2 0.00000000 0.00000000 1.~~12495271~~20234249 0.00000000 ~~949~~907.~~84264743~~98873343 A-IO 0.00000000 0.00000000 4.58333326 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.~~57916676~~68777790 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~40416670~~54027783 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~63750000~~78138864 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~77916635~~96111153 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.~~77916713~~96111123 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.~~77916593~~96111136 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~225~~216.~~03184068~~24356561 0.00000000 999.99990538 P 0.00000000 0.00000000 ~~1854160~~3246366.~~20000000~~40000000 0.00000000 1000.00000000 R-III 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 914,~~344~~574,~~514~~191.0020 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~570~~208,~~360~~373.7722 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~185~~324,~~416~~636.0264 Total Deposits 1015,~~100~~107,~~290~~201.7906 Withdrawals Reimbursement for Servicer Advances ~~257,822~~0.9600 Payment of Service Fee ~~193~~190,~~848~~974.3967 Payment of Interest and Principal 914,~~648~~916,~~619~~226.4439 Total Withdrawals (Pool Distribution Amount) 1015,~~100~~107,~~290~~201.7906 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~185~~182,~~500~~750.8889 Master Servicing Fee - Wells Fargo 8,~~347~~223.5178 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~193~~190,~~848~~974.3967

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 ~~499~~148 0 0 0 ~~499~~148 5916,~~026~~832,~~763~~819.3829 0.00 0.00 0.00 5916,~~026~~832,~~763~~819.3829 60 Days 9249 0 0 0 9249 95,~~595~~121,~~509~~307.7130 0.00 0.00 0.00 95,~~595~~121,~~509~~307.7130 90 Days 3732 0 01 0 3733 43,~~264~~295,~~632~~290.1020 0.00 0147,429.0066 0.00 43,~~264~~442,~~632~~719.1086 120 Days 123 0 06 0 129 1253,~~314,556~~066.2077 0.00 0832,885.0021 0.00 1,~~314~~085,~~556~~951.2098 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 ~~640~~232 0 07 0 ~~640~~239 7425,~~201~~502,~~461~~483.3956 0.00 0980,314.0087 0.00 7426,~~201~~482,~~461~~798.3943 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 134.~~746556~~173717% 0.000000% 0.000000% 0.000000% 134.~~746556~~173717% 133.~~445179~~939841% 0.000000% 0.000000% 0.000000% 133.~~445179~~939841% 60 Days 21.~~534435~~381839% 0.000000% 0.000000% 0.000000% 21.~~534435~~381839% 21.~~185675~~198678% 0.000000% 0.000000% 0.000000% 21.~~185675~~198678% 90 Days 10.~~019284~~902425% 0.000000% 0.~~000000~~028201% 0.000000% 10.~~019284~~930626% 0.~~971402~~771286% 0.000000% 0.~~000000~~034507% 0.000000% 0.~~971402~~805793% 120 Days 0.~~330579~~084602% 0.000000% 0.~~000000~~169205% 0.000000% 0.~~330579~~253807% 0.~~299431~~059232% 0.000000% 0.~~000000~~194943% 0.000000% 0.~~299431~~254175% 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 176.~~630854~~542583% 0.000000% 0.~~000000~~197406% 0.000000% 176.~~630854~~739989% 165.~~901688~~969038% 0.000000% 0.~~000000~~229450% 0.000000% 166.~~901688~~198488%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 ~~460~~135 0 0 0 ~~460~~135 4914,~~788~~131,~~453~~077.0852 0.00 0.00 0.00 4914,~~788~~131,~~453~~077.0852 60 Days 8645 0 0 0 8645 84,~~072~~244,~~420~~503.0827 0.00 0.00 0.00 84,~~072~~244,~~420~~503.0827 90 Days 3529 0 01 0 3530 43,~~186~~139,~~506~~906.8460 0.00 0147,429.0066 0.00 43,~~186~~287,~~506~~336.8426 120 Days 113 0 05 0 118 ~~915~~253,~~723~~066.8177 0.00 0434,052.0082 0.00 ~~915~~687,~~723~~119.8159 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 ~~592~~212 0 06 0 ~~592~~218 6221,~~963~~768,~~103~~554.8116 0.00 0581,482.0048 0.00 6222,~~963~~350,~~103~~036.8164 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 144.~~101778~~231975% 0.000000% 0.000000% 0.000000% 144.~~101778~~231975% 134.~~886877~~042287% 0.000000% 0.000000% 0.000000% 134.~~886877~~042287% 60 Days 21.~~636419~~410658% 0.000000% 0.000000% 0.000000% 21.~~636419~~410658% 21.~~251540~~214168% 0.000000% 0.000000% 0.000000% 21.~~251540~~214168% 90 Days 10.~~072961~~909091% 0.000000% 0.~~000000~~031348% 0.000000% 10.~~072961~~940439% 10.~~167691~~898191% 0.000000% 0.~~000000~~042173% 0.000000% 10.~~167691~~940364% 120 Days 0.~~337216~~094044% 0.000000% 0.~~000000~~156740% 0.000000% 0.~~337216~~250784% 0.~~255412~~072391% 0.000000% 0.~~000000~~124164% 0.000000% 0.~~255412~~196555% 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 186.~~148375~~645768% 0.000000% 0.~~000000~~188088% 0.000000% 186.~~148375~~833856% 176.~~561520~~227037% 0.000000% 0.~~000000~~166337% 0.000000% 176.~~561520~~393374% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 3913 0 0 0 3913 92,~~238~~701,~~310~~741.3077 0.00 0.00 0.00 92,~~238~~701,~~310~~741.3077 60 Days 64 0 0 0 64 1876,~~523,089~~804.6303 0.00 0.00 0.00 1876,~~523,089~~804.6303 90 Days 23 0 0 0 23 78155,~~125~~383.2660 0.00 0.00 0.00 78155,~~125~~383.2660 120 Days 1 0 0 1 0 1 ~~398,832.39~~ 0.00 0.00 398,832.39 0.00 398,832.39 150 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 4820 0 01 0 4821 113,~~238~~733,~~357~~929.5840 0.00 0398,832.0039 0.00 114,~~238~~132,~~357~~761.5879 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 103.~~597826~~651685% 0.000000% 0.000000% 0.000000% 103.~~597826~~651685% 113.~~477694~~478718% 0.000000% 0.000000% 0.000000% 113.~~477694~~478718% 60 Days 1.~~630435~~123596% 0.000000% 0.000000% 0.000000% 1.~~630435~~123596% 1.~~892289~~128958% 0.000000% 0.000000% 0.000000% 1.~~892289~~128958% 90 Days 0.~~543478~~842697% 0.000000% 0.000000% 0.000000% 0.~~543478~~842697% 0.~~097063~~200069% 0.000000% 0.000000% 0.000000% 0.~~097063~~200069% 120 Days 0.~~271739~~000000% 0.000000% 0.~~000000~~280899% 0.000000% 0.~~271739~~280899% 0.~~495510~~000000% 0.000000% 0.~~000000~~513530% 0.000000% 0.~~495510~~513530% 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 135.~~043478~~617978% 0.000000% 0.~~000000~~280899% 0.000000% 135.~~043478~~898876% 134.~~962556~~807745% 0.000000% 0.~~000000~~513530% 0.000000% 135.~~962556~~321275%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~570~~208,~~360~~373.7722

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 8.~~240258~~237789% Weighted Average Net Coupon 7.~~740258~~737790% Weighted Average Pass-Through Rate 7.~~717758~~715290% Weighted Average Maturity(Stepdown Calculation ) ~~338~~337 Beginning Scheduled Collateral Loan Count 3,~~676~~630 Number Of Loans Paid In Full 4684 Ending Scheduled Collateral Loan Count 3,~~630~~546 Beginning Scheduled Collateral Balance ~~445~~438,~~202~~602,~~119~~217.2479 Ending Scheduled Collateral Balance ~~438~~426,~~602~~830,~~217~~580.7949 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2003 ~~439~~427,~~018~~246,~~045~~117.2557 Monthly P &I Constant 3,~~447~~399,~~777~~512.0397 Special Servicing Fee 0.00 Prepayment Penalties ~~185~~324,~~416~~636.0264 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~438~~426,~~602~~830,~~217~~580.7949 Scheduled Principal ~~390~~388,~~626~~419.6489 Unscheduled Principal 611,~~209~~383,~~274~~217.8141 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 9,089,206.00 Overcollateralized Amount 9,089,206.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 0.00

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Coupon Rate 8.~~240258~~237789% Weighted Average Net Rate 7.~~740258~~737790% Weighted Average Pass Through Rate 7.~~717758~~715290% Weighted Average Maturity ~~338~~337 Record Date 0607/3031/2003 Principal and Interest Constant 3,~~447~~399,~~777~~512.0397 Beginning Loan Count 3,~~676~~630 Loans Paid in Full 4684 Ending Loan Count 3,~~630~~546 Beginning Scheduled Balance ~~445~~438,~~202~~602,~~119~~217.2479 Ending Scheduled Balance ~~438~~426,~~602~~830,~~217~~580.7949 Ending Actual Balance at 3031-~~Jun~~Jul-2003 ~~439~~427,~~018~~246,~~045~~117.2557 Scheduled Principal ~~390~~388,~~626~~419.6489 Unscheduled Principal 611,~~209~~383,~~274~~217.8141 Scheduled Interest 3,~~057~~010,~~150~~927.3916 Servicing Fee ~~185~~182,~~500~~750.8889 Master Servicing Fee 8,~~347~~223.5178 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 2,~~863~~820,~~302~~118.0041 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Special Servicing Fee 0.00 Prepayment Penalties ~~185~~324,~~416~~636.0264 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 9,089,206.00 Overcollateralized Amount 9,089,206.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00

Miscellaneous Reporting Required Overcollateralization Amount: 9,089,206.00 Overcollateralization Increase Amount: 0.00 Overcollateralization Reduction Amount: 0.00 Credit Enhancement Percentage: 20.~~204093~~7617%

Group Level Collateral Statement Group 1 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed & Mixed ARM Weighted Average Coupon Rate 8.~~347985~~347819 7.~~757016~~747694 8.~~240258~~237789 Weighted Average Net Rate 7.~~847985~~847819 7.~~257016~~247695 7.~~740258~~737790 Weighted Average Maturity ~~335~~334 ~~340~~339 ~~338~~337 Beginning Loan Count 3,~~304~~262 ~~372~~368 3,~~676~~630 Loans Paid In Full 4272 412 4684 Ending Loan Count 3,~~262~~190 ~~368~~356 3,~~630~~546 Beginning Scheduled Balance ~~364~~358,~~046~~187,~~824~~004.6150 8180,~~155~~415,~~294~~213.6329 ~~445~~438,~~202~~602,~~119~~217.2479 Ending scheduled Balance ~~358~~349,~~187~~238,~~004~~748.5053 8077,~~415~~591,~~213~~831.2996 ~~438~~426,~~602~~830,~~217~~580.7949 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant 2,~~850~~807,~~806~~784.4450 ~~596~~591,~~970~~728.5947 3,~~447~~399,~~777~~512.0397 Scheduled Principal ~~318~~316,~~258~~051.5104 72,368.1385 ~~390~~388,~~626~~419.6489 Unscheduled Principal 58,~~541~~632,~~561~~204.6093 ~~667~~2,~~713~~751,012.2148 611,~~209~~383,~~274~~217.8141 Scheduled Interest 2,~~532~~491,~~547~~733.9346 ~~524~~519,~~602~~193.4670 3,~~057~~010,~~150~~927.3916 Servicing Fees ~~151~~149,~~686~~244.1756 33,~~814~~506.7133 ~~185~~182,~~500~~750.8889 Master Servicing Fees 6,~~825~~716.8600 1,~~521~~507.6578 8,~~347~~223.5178 Trustee Fee 0.00 0.00 0.00 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 2,~~374~~335,~~035~~772.90 ~~489~~484,~~266~~345.1051 2,~~863~~820,~~302~~118.0041 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.~~825485~~825320 7.~~234516~~225195 7.~~717758~~715290

Filing Compare · ACE SECURITIES CORP HOME EQUITY LOAN TRUST SERIES 2003-FM1