8-K 1 ecc03001.txt SEPTEMBER 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): September 25, 2003 ENCORE CREDIT CORPORATION Mortage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-102489-09 54-2114680 Pooling and Servicing Agreement) (Commission 54-2114681 (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: ( ) - (Former name or former address, if changed since last report) ITEM 5. Other Events On September 25, 2003 a distribution was made to holders of ENCORE CREDIT CORPORATION, Mortage Pass-Through 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 Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the September 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. ENCORE CREDIT CORPORATION Mortgage Pass-Through 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: 9/30/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the September 25, 2003 distribution. EX-99.1

ENCORE CREDIT CORPORATION Mortgage Pass-Through Certificates Record Date: 78/31/03 Distribution Date: 89/25/03 ECC Series: 2003-1 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 29256AAA5 SEN 1.~~50000~~51000% ~~198~~196,~~929~~219,~~228~~638.8537 ~~256~~255,~~950~~140.2502 25,~~709~~279,~~590~~697.4821 A2 29256AAB3 SEN 1.~~51000~~52000% 27,~~748~~264,~~868~~522.7053 3635,~~081~~686.2423 ~~484~~1,~~346~~891,227.1778 M1 29256AAC1 SUB 2.~~15000~~16000% 16,027,000.00 29,~~672~~810.2122 0.00 M2 29256AAD9 SUB 3.~~60000~~61000% 11,846,000.00 36,~~722~~824.6061 0.00 B1 29256AAE7 SUB 5.~~10000~~11000% 8,500,000.00 37,~~329~~402.1736 0.00 B2 29256AAF4 SUB 5.~~10000~~11000% 2,788,000.00 12,~~243~~267.97 0.00 X EEC03001X SUB 0.00000% 3,762,696.56 1,~~033~~017,~~597~~016.9783 0.00 P EEC03001P SUB 0.00000% 100.00 4642,~~538~~925.4611 0.00 R3 EEC0301R3 SUB 0.00000% 0.00 0.00 0.00 Totals ~~269~~266,~~601~~407,~~894~~957.1146 1,~~489~~467,~~135~~073.8735 37,~~193~~170,~~936~~924.6599

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~196~~190,~~219~~939,~~638~~941.3716 25,~~966~~534,~~540~~837.7323 0.00 A2 0.00 2725,~~264~~373,~~522~~294.5375 ~~520~~1,~~427~~926,914.4101 0.00 M1 0.00 16,027,000.00 29,~~672~~810.2122 0.00 M2 0.00 11,846,000.00 36,~~722~~824.6061 0.00 B1 0.00 8,500,000.00 37,~~329~~402.1736 0.00 B2 0.00 2,788,000.00 12,~~243~~267.97 0.00 X 0.00 3,762,696.56 1,~~033~~017,~~597~~016.9783 0.00 P 0.00 100.00 4642,~~538~~925.4611 0.00 R3 0.00 0.00 0.00 0.00 Totals 0.00 ~~266~~259,~~407~~237,~~957~~032.4647 48,~~683~~637,~~072~~998.5234 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 206,677,000.00 ~~198~~196,~~929~~219,~~228~~638.8537 0.00 25,~~709~~279,~~590~~697.4821 0.00 0.00 A2 29,116,000.00 27,~~748~~264,~~868~~522.7053 0.00 ~~484~~1,~~346~~891,227.1778 0.00 0.00 M1 16,027,000.00 16,027,000.00 0.00 0.00 0.00 0.00 M2 11,846,000.00 11,846,000.00 0.00 0.00 0.00 0.00 B1 8,500,000.00 8,500,000.00 0.00 0.00 0.00 0.00 B2 2,788,000.00 2,788,000.00 0.00 0.00 0.00 0.00 X 3,764,263.58 3,762,696.56 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Totals 278,718,363.58 ~~269~~266,~~601~~407,~~894~~957.1146 0.00 37,~~193~~170,~~936~~924.6599 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 25,~~709~~279,~~590~~697.4821 ~~196~~190,~~219~~939,~~638~~941.3716 0.~~94940239~~92385675 25,~~709~~279,~~590~~697.4821 A2 ~~484~~1,~~346~~891,227.1778 2725,~~264~~373,~~522~~294.5375 0.~~93641031~~87145538 ~~484~~1,~~346~~891,227.1778 M1 0.00 16,027,000.00 1.00000000 0.00 M2 0.00 11,846,000.00 1.00000000 0.00 B1 0.00 8,500,000.00 1.00000000 0.00 B2 0.00 2,788,000.00 1.00000000 0.00 X 0.00 3,762,696.56 0.99958371 0.00 P 0.00 100.00 1.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 Totals 37,~~193~~170,~~936~~924.6599 ~~266~~259,~~407~~237,~~957~~032.4647 0.~~95583210~~93010388 37,~~193~~170,~~936~~924.6599

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 206,677,000.00 ~~962~~949.~~51265913~~40239296 0.00000000 1325.~~11026616~~54564470 0.00000000 A2 29,116,000.00 ~~953~~936.~~04535994~~41030808 0.00000000 1664.~~63505186~~95493131 0.00000000 M1 16,027,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 11,846,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 8,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 2,788,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 3,764,263.58 999.58371140 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denominations

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 1325.~~11026616~~54564470 ~~949~~923.~~40239296~~85674826 0.~~94940239~~92385675 1325.~~11026616~~54564470 A2 0.00000000 1664.~~63505186~~95493131 ~~936~~871.~~41030808~~45537677 0.~~93641031~~87145538 1664.~~63505186~~95493131 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 X 0.00000000 0.00000000 999.58371140 0.99958371 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R3 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 A1 206,677,000.00 1.~~50000~~51000% ~~198~~196,~~929~~219,~~228~~638.8537 ~~256~~255,~~950~~140.2504 0.00 0.00 A2 29,116,000.00 1.~~51000~~52000% 27,~~748~~264,~~868~~522.7053 3635,~~081~~686.2423 0.00 0.00 M1 16,027,000.00 2.~~15000~~16000% 16,027,000.00 29,~~672~~810.2122 0.00 0.00 M2 11,846,000.00 3.~~60000~~61000% 11,846,000.00 36,~~722~~824.6061 0.00 0.00 B1 8,500,000.00 5.~~10000~~11000% 8,500,000.00 37,~~329~~402.1736 0.00 0.00 B2 2,788,000.00 5.~~10000~~11000% 2,788,000.00 12,~~243~~267.97 0.00 0.00 X 3,764,263.58 0.00000% 3,762,696.56 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 278,718,363.58 ~~408~~407,~~999~~131.4443 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 0.0002 0.00 ~~256~~255,~~950~~140.2502 0.00 ~~196~~190,~~219~~939,~~638~~941.3716 A2 0.00 0.00 3635,~~081~~686.2423 0.00 2725,~~264~~373,~~522~~294.5375 M1 0.00 0.00 29,~~672~~810.2122 0.00 16,027,000.00 M2 0.00 0.00 36,~~722~~824.6061 0.00 11,846,000.00 B1 0.00 0.00 37,~~329~~402.1736 0.00 8,500,000.00 B2 0.00 0.00 12,~~243~~267.97 0.00 2,788,000.00 X 0.00 0.00 1,~~033~~017,~~597~~016.9783 0.00 3,762,696.56 P 0.00 0.00 4642,~~538~~925.4611 0.00 100.00 R3 0.00 0.00 0.00 0.00 0.00 Totals 0.0002 0.00 1,~~489~~467,~~135~~073.8735 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 206,677,000.00 1.~~50000~~51000% ~~962~~949.~~51265913~~40239296 1.~~24324550~~23448686 0.00000000 0.00000000 A2 29,116,000.00 1.~~51000~~52000% ~~953~~936.~~04535994~~41030808 1.~~23922379~~22565703 0.00000000 0.00000000 M1 16,027,000.00 2.~~15000~~16000% 1000.00000000 1.~~85138891~~86000000 0.00000000 0.00000000 M2 11,846,000.00 3.~~60000~~61000% 1000.00000000 3.~~10000000~~10861135 0.00000000 0.00000000 B1 8,500,000.00 5.~~10000~~11000% 1000.00000000 4.~~39166706~~40027765 0.00000000 0.00000000 B2 2,788,000.00 5.~~10000~~11000% 1000.00000000 4.~~39166786~~40027618 0.00000000 0.00000000 X 3,764,263.58 0.00000% 999.58371140 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denominations

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~~00000010 0.00000000 1.~~24324550~~23448676 0.00000000 ~~949~~923.~~40239296~~85674826 A2 0.00000000 0.00000000 1.~~23922379~~22565703 0.00000000 ~~936~~871.~~41030808~~45537677 M1 0.00000000 0.00000000 1.~~85138891~~86000000 0.00000000 1000.00000000 M2 0.00000000 0.00000000 3.~~10000000~~10861135 0.00000000 1000.00000000 B1 0.00000000 0.00000000 4.~~39166706~~40027765 0.00000000 1000.00000000 B2 0.00000000 0.00000000 4.~~39166786~~40027618 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~274~~270.~~58172044~~17683762 0.00000000 999.58371140 P 0.00000000 0.00000000 ~~465384~~429251.~~60000000~~10000000 0.00000000 1000.00000000 R3 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 48,~~954~~905,~~249~~799.0867 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 0.00 Total Deposits 48,~~954~~905,~~249~~799.0867 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~271~~267,~~176~~801.5633 Payment of Interest and Principal 48,~~683~~637,~~072~~998.5234 Total Withdrawals (Pool Distribution Amount) 48,~~954~~905,~~249~~799.0867 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~112~~111,~~334~~003.0529 Additional Service Fee ~~144~~142,~~328~~422.3328 Credit Risk Manager Fee 3,~~370~~330.0210 Servicing Fee 8,~~897~~825.4960 Wells Fargo Bank Minnesota, NA 2,~~246~~220.6706 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~271~~267,~~176~~801.5633

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 01.0070 01.0070 1,000.00 Financial Guaranty 0.00 0.00 0.00 0.00

~~OAN~~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 2521 0 0 0 2521 3,~~766~~659,~~541~~459.2539 0.00 0.00 0.00 3,~~766~~659,~~541~~459.2539 60 Days 313 0 3 0 616 ~~301~~1,~~465~~642,788.4224 0.00 ~~661~~537,~~967~~524.6572 0.00 ~~963~~2,~~433~~180,312.0796 90 Days 12 0 13 0 25 ~~184~~205,~~425~~465.2442 0.00 ~~327~~489,~~325~~865.6354 0.00 ~~511~~695,~~750~~330.8796 120 Days 0 0 2 0 2 0.00 0.00 ~~347~~511,~~803~~750.1987 0.00 ~~347~~511,~~803~~750.1987 150 Days 0 0 02 0 02 0.00 0.00 0347,803.0019 0.00 0347,803.0019 180+ Days 0 0 1 0 1 0.00 0.00 169,803.65 0.00 169,803.65 Totals 2936 0 711 0 3647 45,~~252~~507,~~431~~713.9105 0.00 12,~~506~~056,~~900~~747.1297 0.00 57,~~759~~564,~~332~~461.0302 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 1.~~633987~~403743% 0.000000% 0.000000% 0.000000% 1.~~633987~~403743% 1.~~412726~~410447% 0.000000% 0.000000% 0.000000% 1.~~412726~~410447% 60 Days 0.~~196078~~868984% 0.000000% 0.~~196078~~200535% 0.000000% 01.~~392157~~069519% 0.~~113071~~633172% 0.000000% 0.~~248286~~207175% 0.000000% 0.~~361357~~840347% 90 Days 0.~~065359~~133690% 0.000000% 0.~~065359~~200535% 0.000000% 0.~~130719~~334225% 0.~~069173~~079191% 0.000000% 0.~~122771~~188806% 0.000000% 0.~~191944~~267998% 120 Days 0.000000% 0.000000% 0.~~130719~~133690% 0.000000% 0.~~130719~~133690% 0.000000% 0.000000% 0.~~130451~~197242% 0.000000% 0.~~130451~~197242% 150 Days 0.000000% 0.000000% 0.~~000000~~133690% 0.000000% 0.~~000000~~133690% 0.000000% 0.000000% 0.~~000000~~134052% 0.000000% 0.~~000000~~134052% 180+ Days 0.000000% 0.000000% 0.~~065359~~066845% 0.000000% 0.~~065359~~066845% 0.000000% 0.000000% 0.~~063689~~065447% 0.000000% 0.~~063689~~065447% Totals 12.~~895425~~406417% 0.000000% 0.~~457516~~735294% 0.000000% 23.~~352941~~141711% 12.~~594970~~122810% 0.000000% 0.~~565197~~792722% 0.000000% 2.~~160167~~915532%

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 2421 0 0 0 2421 3,~~379~~659,~~834~~459.2639 0.00 0.00 0.00 3,~~379~~659,~~834~~459.2639 60 Days 313 0 3 0 616 ~~301~~1,~~465~~642,788.4224 0.00 ~~661~~537,~~967~~524.6572 0.00 ~~963~~2,~~433~~180,312.0796 90 Days 12 0 03 0 15 ~~184~~205,~~425~~465.2442 0.00 0489,865.0054 0.00 ~~184~~695,~~425~~330.2496 120 Days 0 0 21 0 21 0.00 0.00 ~~347~~184,~~803~~425.1924 0.00 ~~347~~184,~~803~~425.1924 150 Days 0 0 02 0 02 0.00 0.00 0347,803.0019 0.00 0347,803.0019 180 Days 0 0 1 0 1 0.00 0.00 169,803.65 0.00 169,803.65 Totals 2836 0 610 0 3446 35,~~865~~507,~~724~~713.9205 0.00 1,~~179~~729,~~574~~422.4934 0.00 57,~~045~~237,~~299~~135.4139 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~663202~~485149% 0.000000% 0.000000% 0.000000% 1.~~663202~~485149% 1.~~444233~~599739% 0.000000% 0.000000% 0.000000% 1.~~444233~~599739% 60 Days 0.~~207900~~919378% 0.000000% 0.~~207900~~212164% 0.000000% 01.~~415800~~131542% 0.~~128819~~718148% 0.000000% 0.~~282865~~234980% 0.000000% 0.~~411683~~953128% 90 Days 0.~~069300~~141443% 0.000000% 0.~~000000~~212164% 0.000000% 0.~~069300~~353607% 0.~~078807~~089820% 0.000000% 0.~~000000~~214146% 0.000000% 0.~~078807~~303965% 120 Days 0.000000% 0.000000% 0.~~138600~~070721% 0.000000% 0.~~138600~~070721% 0.000000% 0.000000% 0.~~148619~~080622% 0.000000% 0.~~148619~~080622% 150 Days 0.000000% 0.000000% 0.~~000000~~141443% 0.000000% 0.~~000000~~141443% 0.000000% 0.000000% 0.~~000000~~152043% 0.000000% 0.~~000000~~152043% 180 Days 0.000000% 0.000000% 0.~~069300~~070721% 0.000000% 0.~~069300~~070721% 0.000000% 0.000000% 0.~~072559~~074230% 0.000000% 0.~~072559~~074230% Totals 12.~~940402~~545969% 0.000000% 0.~~415800~~707214% 0.000000% 23.~~356202~~253182% 12.~~651858~~407706% 0.000000% 0.~~504043~~756020% 0.000000% 23.~~155901~~163726% 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 10 0 0 0 10 ~~386,706~~0.9900 0.00 0.00 0.00 ~~386,706~~0.9900 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 10 0 10 0.00 0.00 ~~327,325~~0.6300 0.00 ~~327,325~~0.6300 120 Days 0 0 01 0 01 0.00 0.00 0327,325.0063 0.00 0327,325.0063 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 1 0 21 ~~386,706~~0.9900 0.00 327,325.63 0.00 ~~714~~327,~~032~~325.6263 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~149425~~000000% 0.000000% 0.000000% 0.000000% 10.~~149425~~000000% 10.~~186497~~000000% 0.000000% 0.000000% 0.000000% 10.~~186497~~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% 10.~~149425~~000000% 0.000000% 10.~~149425~~000000% 0.000000% 0.000000% 10.~~004303~~000000% 0.000000% 10.~~004303~~000000% 120 Days 0.000000% 0.000000% 01.~~000000~~219512% 0.000000% 01.~~000000~~219512% 0.000000% 0.000000% 01.~~000000~~066195% 0.000000% 01.~~000000~~066195% 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.~~149425~~000000% 0.000000% 1.~~149425~~219512% 0.000000% 21.~~298851~~219512% 10.~~186497~~000000% 0.000000% 1.~~004303~~066195% 0.000000% 21.~~190799~~066195%

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 7.~~628023~~621162% Weighted Average Net Coupon 7.~~128024~~121162% Weighted Average Pass-Through Rate 6.~~436014~~429885% Weighted Average Maturity(Stepdown Calculation ) ~~353~~352 Beginning Scheduled Collateral Loan Count 1,~~549~~530 Number Of Loans Paid In Full 1934 Ending Scheduled Collateral Loan Count 1,~~530~~496 Beginning Scheduled Collateral Balance ~~269~~266,~~601~~407,~~794~~857.1146 Ending Scheduled Collateral Balance ~~266~~259,~~407~~236,~~857~~932.4647 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 ~~266~~259,~~615~~453,~~097~~892.1033 Monthly P &I Constant 1,~~934~~911,~~358~~635.2507 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~266~~259,~~407~~236,~~857~~932.4647 Scheduled Principal ~~220~~219,~~584~~687.2520 Unscheduled Principal 26,~~973~~951,~~352~~237.4079

Miscellaneous Reporting Target Overcollateralization 3,762,696.56 Overcollateralization Amount 3,762,696.56 Overcollateralization Deficit Amount 0.00 Overcollateralization Reduction Amount 0.00 Overcollateralization Release Amount 0.00 Excess Cash 1,~~033~~017,~~597~~015.9713 Stepdown Event NO Trigger Event NO Cap Agreement Payment 0.00 Maximum Rate Group 1 14.~~862556481~~8516004001% MAximum Rate Group 2 14.~~3691225995~~3692312799%

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 7.~~686441~~681438 7.~~209888~~188328 7.~~628023~~621162 Weighted Average Net Rate 7.~~186441~~181438 6.~~709888~~688327 7.~~128024~~121162 Weighted Average Maturity ~~605~~604 ~~706~~705 ~~353~~352 Beginning Loan Count 1,~~461~~443 8887 1,~~549~~530 Loans Paid In Full 1829 15 1934 Ending Loan Count 1,~~443~~414 8782 1,~~530~~496 Beginning Scheduled Balance ~~236~~233,~~552~~843,~~852~~262.6820 3332,~~048~~564,~~941~~595.4326 ~~269~~266,~~601~~407,~~794~~857.1146 Ending scheduled Balance ~~233~~228,~~843~~563,~~262~~564.2099 3230,~~564~~673,~~595~~367.2648 ~~266~~259,~~407~~236,~~857~~932.4647 Record Date 0708/31/2003 0708/31/2003 0708/31/2003 Principal And Interest Constant 1,~~707~~688,~~825~~720.1378 ~~226~~222,~~533~~914.1229 1,~~934~~911,~~358~~635.2507 Scheduled Principal ~~192~~191,~~617~~843.1073 27,~~967~~843.1547 ~~220~~219,~~584~~687.2520 Unscheduled Principal 25,~~516~~087,~~973~~853.3848 ~~456~~1,~~379~~863,384.0231 26,~~973~~951,~~352~~237.4079 Scheduled Interest 1,~~515~~496,~~208~~877.0305 ~~198~~195,~~565~~070.9782 1,~~713~~691,~~774~~947.0087 Servicing Fees 9897,~~563~~434.6770 13,~~770~~568.3859 ~~112~~111,~~334~~003.0529 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~971~~948.2669 ~~275~~271.4137 2,~~246~~220.6706 FRY Amount 7,~~675~~604.4960 1,~~222~~221.00 8,~~897~~825.4960 Special Hazard Fee 0.00 0.00 0.00 Other Fee ~~133~~131,~~050~~742.9303 1110,~~277~~680.4025 ~~144~~142,~~328~~422.3328 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 1,~~273~~258,~~946~~147.6803 ~~172~~169,~~020~~329.7861 1,~~445~~427,~~967~~476.4664 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 6.~~462556~~456361 6.~~246037~~239768 6.~~436014~~429885

Filing Compare · ENCORE CREDIT CORP MORTGAGE PASS THROUGH CERTS SER 2003-1