8-K 1 ace03hs1.txt OCTOBER 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): October 27, 2003 ACE SECURITIES CORP. Asset-Backed Pass-Through Certificates, Series 2003-HS1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-45458-10 54-2123746 Pooling and Servicing Agreement) (Commission 54-2123747 (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 October 27, 2003 a distribution was made to holders of ACE SECURITIES CORP., Asset-Backed Pass-Through Certificates, Series 2003-HS1 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 Certificates, Series 2003-HS1 Trust, relating to the October 27, 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. Asset-Backed Pass-Through Certificates, Series 2003-HS1 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: 10/30/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Pass-Through Certificates, Series 2003-HS1 Trust, relating to the October 27, 2003 distribution. EX-99.1

ACE Securities Corporation Asset -Backed Pass-Through Certificates Record Date: 89/3130/03 Distribution Date: 910/2527/03 ACE Series: 2003-HS1 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 004421CD3 SEN 1.~~46000~~47000% ~~284~~277,~~089~~381,~~000~~992.0085 ~~426~~362,~~291~~445.3280 6,~~707~~154,~~007~~857.1597 A-2A 004421CE1 SEN 1.~~48000~~49000% 24,~~749~~161,~~000~~842.0056 3732,~~645~~001.9802 ~~587~~783,~~157~~747.4455 A-2B 004421CM3 SEN 1.~~40000~~41000% 3534,~~000~~169,~~000~~642.0080 5042,~~361~~825.1195 ~~830~~1,~~357~~108,374.2064 M-1 004421CF8 SUB 1.~~86000~~87000% 22,446,000.00 4237,~~909~~310.2724 0.00 M-2 004421CG6 SUB 2.~~86000~~87000% 20,406,000.00 5952,~~982~~057.3097 0.00 M-3 004421CH4 SUB 3.~~61000~~62000% 4,081,000.00 1513,~~141~~131.6475 0.00 M-4 004421CJ0 SUB 4.~~86000~~87000% 4,081,000.00 2017,~~384~~666.5920 0.00 M-5 004421CK7 SUB 5.~~11000~~12000% 2,040,000.00 109,~~713~~284.9727 0.00 M-6 004421CL5 SUB 5.~~11000~~12000% 4,081,000.00 2118,~~433~~573.1908 0.00 CE ACE03HS1E SEN 0.00000% 7,142,~~785~~685.1300 1,~~841~~890,~~240~~472.0188 0.00 P ACE03HS1P SEN 0.00000% 0100.00 ~~124~~118,~~376~~445.2493 0.00 R ACE03HS11 SEN 0.00000% 0.00 0.00 0.00 Totals ~~408~~399,~~115~~991,~~785~~263.1321 2,~~650~~594,~~479~~215.6209 8,~~124~~046,~~521~~980.7916

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~277~~271,~~381~~227,~~992~~134.8588 76,~~133~~517,~~298~~303.4777 0.00 A-2A 0.00 2423,~~161~~378,~~842~~095.5602 ~~624~~815,~~803~~748.4257 0.00 A-2B 0.00 3433,~~169~~061,~~642~~268.8016 ~~880~~1,~~718~~151,200.3159 0.00 M-1 0.00 22,446,000.00 4237,~~909~~310.2724 0.00 M-2 0.00 20,406,000.00 5952,~~982~~057.3097 0.00 M-3 0.00 4,081,000.00 1513,~~141~~131.6475 0.00 M-4 0.00 4,081,000.00 2017,~~384~~666.5920 0.00 M-5 0.00 2,040,000.00 109,~~713~~284.9727 0.00 M-6 0.00 4,081,000.00 2118,~~433~~573.1908 0.00 CE 0.00 7,142,~~785~~685.00 1,~~841~~890,~~240~~472.0188 0.00 P 0.00 0100.00 ~~124~~118,~~376~~445.2493 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~399~~391,~~991~~944,~~263~~283.2106 10,~~775~~641,~~001~~195.4125 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-1 284,089,000.00 ~~284~~277,~~089~~381,~~000~~992.0085 0.00 6,~~707~~154,~~007~~857.1597 0.00 0.00 A-2A 24,749,000.00 24,~~749~~161,~~000~~842.0056 0.00 ~~587~~783,~~157~~747.4455 0.00 0.00 A-2B 35,000,000.00 3534,~~000~~169,~~000~~642.0080 0.00 ~~830~~1,~~357~~108,374.2064 0.00 0.00 M-1 22,446,000.00 22,446,000.00 0.00 0.00 0.00 0.00 M-2 20,406,000.00 20,406,000.00 0.00 0.00 0.00 0.00 M-3 4,081,000.00 4,081,000.00 0.00 0.00 0.00 0.00 M-4 4,081,000.00 4,081,000.00 0.00 0.00 0.00 0.00 M-5 2,040,000.00 2,040,000.00 0.00 0.00 0.00 0.00 M-6 4,081,000.00 4,081,000.00 0.00 0.00 0.00 0.00 CE 7,142,~~785~~685.13 7,142,~~785~~685.1300 0.00 0.00 0.00 0.00 P 0100.00 0100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 408,115,785.13 ~~408~~399,~~115~~991,~~785~~263.1321 0.00 8,~~124~~046,~~521~~980.7916 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 6,~~707~~154,~~007~~857.1597 ~~277~~271,~~381~~227,~~992~~134.8588 0.~~97639118~~95472593 6,~~707~~154,~~007~~857.1597 A-2A ~~587~~783,~~157~~747.4455 2423,~~161~~378,~~842~~095.5602 0.~~97627551~~94460766 ~~587~~783,~~157~~747.4455 A-2B ~~830~~1,~~357~~108,374.2064 3433,~~169~~061,~~642~~268.8016 0.~~97627551~~94460766 ~~830~~1,~~357~~108,374.2064 M-1 0.00 22,446,000.00 1.00000000 0.00 M-2 0.00 20,406,000.00 1.00000000 0.00 M-3 0.00 4,081,000.00 1.00000000 0.00 M-4 0.00 4,081,000.00 1.00000000 0.00 M-5 0.00 2,040,000.00 1.00000000 0.00 M-6 0.00 4,081,000.00 1.00000000 0.00 CE 0.00 7,142,~~785~~685.00 0.99999998 0.00 P 0.00 0100.00 01.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 8,~~124~~046,~~521~~980.7916 ~~399~~391,~~991~~944,~~263~~283.2106 0.~~98009261~~96037521 8,~~124~~046,~~521~~980.7916

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 284,089,000.00 ~~1000~~976.~~00000000~~39117618 0.00000000 2321.~~60882382~~66524564 0.00000000 A-2A 24,749,000.00 ~~1000~~976.~~00000000~~27550851 0.00000000 2331.~~72449149~~66784719 0.00000000 A-2B 35,000,000.00 ~~1000~~976.~~00000000~~27550857 0.00000000 2331.~~72449143~~66784686 0.00000000 M-1 22,446,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 20,406,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 4,081,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 4,081,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 2,040,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 4,081,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 7,142,~~785~~685.13 ~~1000~~999.~~00000000~~99998180 0.00000000 0.00000000 0.00000000 P 0100.00 01000.00000000 0.00000000 0.00000000 0.00000000 R 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 2321.~~60882382~~66524564 ~~976~~954.~~39117618~~72593054 0.~~97639118~~95472593 2321.~~60882382~~66524564 A-2A 0.00000000 2331.~~72449149~~66784719 ~~976~~944.~~27550851~~60766172 0.~~97627551~~94460766 2331.~~72449149~~66784719 A-2B 0.00000000 2331.~~72449143~~66784686 ~~976~~944.~~27550857~~60766171 0.~~97627551~~94460766 2331.~~72449143~~66784686 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 999.99998180 0.99999998 0.00000000 P 0.00000000 0.00000000 01,000.00000000 01.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, 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-1 284,089,000.00 1.~~46000~~47000% ~~284~~277,~~089~~381,~~000~~992.0085 ~~426~~362,~~291~~445.3380 0.00 0.00 A-2A 24,749,000.00 1.~~48000~~49000% 24,~~749~~161,~~000~~842.0056 3732,~~645~~001.9802 0.00 0.00 A-2B 35,000,000.00 1.~~40000~~41000% 3534,~~000~~169,~~000~~642.0080 5042,~~361~~825.1195 0.00 0.00 M-1 22,446,000.00 1.~~86000~~87000% 22,446,000.00 4237,~~909~~310.2724 0.00 0.00 M-2 20,406,000.00 2.~~86000~~87000% 20,406,000.00 5952,~~982~~057.3097 0.00 0.00 M-3 4,081,000.00 3.~~61000~~62000% 4,081,000.00 1513,~~141~~131.6475 0.00 0.00 M-4 4,081,000.00 4.~~86000~~87000% 4,081,000.00 2017,~~384~~666.6020 0.00 0.00 M-5 2,040,000.00 5.~~11000~~12000% 2,040,000.00 109,~~713~~284.9727 0.00 0.00 M-6 4,081,000.00 5.~~11000~~12000% 4,081,000.00 2118,~~433~~573.1908 0.00 0.00 CE 7,142,~~785~~685.13 0.00000% 7,142,~~785~~685.1300 ~~1,841,240~~0.0100 0.00 0.00 P 0100.00 0.00000% 0.0100 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 408,115,785.13 2585,~~526,103~~296.4028 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 0.0100 0.00 ~~426~~362,~~291~~445.3280 0.00 ~~277~~271,~~381~~227,~~992~~134.8588 A-2A 0.00 0.00 3732,~~645~~001.9802 0.00 2423,~~161~~378,~~842~~095.5602 A-2B 0.00 0.00 5042,~~361~~825.1195 0.00 3433,~~169~~061,~~642~~268.8016 M-1 0.00 0.00 4237,~~909~~310.2724 0.00 22,446,000.00 M-2 0.00 0.00 5952,~~982~~057.3097 0.00 20,406,000.00 M-3 0.00 0.00 1513,~~141~~131.6475 0.00 4,081,000.00 M-4 0.00 0.00 2017,~~384~~666.5920 0.00 4,081,000.00 M-5 0.00 0.00 109,~~713~~284.9727 0.00 2,040,000.00 M-6 0.00 0.00 2118,~~433~~573.1908 0.00 4,081,000.00 CE 0.00 0.00 1,~~841~~890,~~240~~472.0188 0.00 7,142,~~785~~685.00 P 0.00 0.00 ~~124~~118,~~376~~445.2493 0.00 0.0100 R 0.00 0.00 0.00 0.00 0.00 Totals 0.0100 0.00 2,~~650~~594,~~479~~215.6209 0.00 (4) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, 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-1 284,089,000.00 1.~~46000~~47000% ~~1000~~976.~~00000000~~39117618 1.~~50055557~~27581779 0.00000000 0.00000000 A-2A 24,749,000.00 1.~~48000~~49000% ~~1000~~976.~~00000000~~27550851 1.~~52111116~~29302275 0.00000000 0.00000000 A-2B 35,000,000.00 1.~~40000~~41000% ~~1000~~976.~~00000000~~27550857 1.~~43888886~~22359857 0.00000000 0.00000000 M-1 22,446,000.00 1.~~86000~~87000% 1000.00000000 1.~~91166667~~66222222 0.00000000 0.00000000 M-2 20,406,000.00 2.~~86000~~87000% 1000.00000000 2.~~93944428~~55111095 0.00000000 0.00000000 M-3 4,081,000.00 3.~~61000~~62000% 1000.00000000 3.~~71027689~~21777751 0.00000000 0.00000000 M-4 4,081,000.00 4.~~86000~~87000% 1000.00000000 4.~~99500123~~32888998 0.00000000 0.00000000 M-5 2,040,000.00 5.~~11000~~12000% 1000.00000000 54.~~25194608~~55111275 0.00000000 0.00000000 M-6 4,081,000.00 5.~~11000~~12000% 1000.00000000 54.~~25194560~~55111002 0.00000000 0.00000000 CE 7,142,~~785~~685.13 0.00000% ~~1000~~999.~~00000000~~99998180 ~~257~~0.~~77620025~~00000000 0.00000000 0.00000000 P 0100.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R 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.~~00000004~~00000000 0.00000000 1.~~50055553~~27581779 0.00000000 ~~976~~954.~~39117618~~72593054 A-2A 0.00000000 0.00000000 1.~~52111116~~29302275 0.00000000 ~~976~~944.~~27550851~~60766172 A-2B 0.00000000 0.00000000 1.~~43888886~~22359857 0.00000000 ~~976~~944.~~27550857~~60766171 M-1 0.00000000 0.00000000 1.~~91166667~~66222222 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~93944428~~55111095 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~71027689~~21777751 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 4.~~99499877~~32888998 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 54.~~25194608~~55111275 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 54.~~25194560~~55111002 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~257~~264.~~77620025~~67257699 0.00000000 999.99998180 P 0.00000000 0.00000000 01184459.~~00000000~~30000000 0.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy,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 10,~~974~~868,~~074~~918.9939 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 83136,~~325~~025.0095 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~124~~118,~~376~~445.2493 Total Deposits 11,~~181~~123,~~776~~390.2327 Withdrawals Reimbursement for Servicer Advances 083,325.00 Payment of Service Fee ~~406~~398,~~774~~870.8202 Payment of Interest and Principal 10,~~775~~641,~~001~~195.4125 Total Withdrawals (Pool Distribution Amount) 11,~~181~~123,~~776~~390.2327 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~170~~166,~~048~~663.2105 Credit Risk Manager Fee - Murrayhill 54,~~101~~999.4886 Master Servicing Fee - Wells Fargo 5,~~951~~833.6421 MBIA Class A-2B 3,~~208~~132.3322 MGIC ~~222~~218,~~465~~241.1668 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~406~~398,~~774~~870.8202

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 6787 0 0 0 6787 610,~~913~~519,~~243~~652.8659 0.00 0.00 0.00 610,~~913~~519,~~243~~652.8659 60 Days 3038 0 0 0 3038 34,~~296~~546,~~885~~664.6333 0.00 0.00 0.00 34,~~296~~546,~~885~~664.6333 90 Days 324 0 0 0 324 ~~512~~2,~~219~~667,757.8707 0.00 0.00 0.00 ~~512~~2,~~219~~667,757.8707 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 01 0 0 0 01 062,593.0077 0.00 0.00 0.00 062,593.0077 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~100~~150 0 0 0 ~~100~~150 1017,~~722~~796,~~349~~667.3676 0.00 0.00 0.00 1017,~~722~~796,~~349~~667.3676 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 2.~~098340~~768937% 0.000000% 0.000000% 0.000000% 2.~~098340~~768937% 12.~~727153~~681949% 0.000000% 0.000000% 0.000000% 12.~~727153~~681949% 60 Days 01.~~939555~~209421% 0.000000% 0.000000% 0.000000% 01.~~939555~~209421% 01.~~823669~~159156% 0.000000% 0.000000% 0.000000% 01.~~823669~~159156% 90 Days 0.~~093956~~763845% 0.000000% 0.000000% 0.000000% 0.~~093956~~763845% 0.~~127969~~680136% 0.000000% 0.000000% 0.000000% 0.~~127969~~680136% 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~~031827% 0.000000% 0.000000% 0.000000% 0.~~000000~~031827% 0.~~000000~~015958% 0.000000% 0.000000% 0.000000% 0.~~000000~~015958% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 34.~~131851~~774029% 0.000000% 0.000000% 0.000000% 34.~~131851~~774029% 24.~~678791~~537199% 0.000000% 0.000000% 0.000000% 24.~~678791~~537199%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP I, Sub Grp 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 1924 0 0 0 1924 12,~~477~~415,~~878~~810.3233 0.00 0.00 0.00 12,~~477~~415,~~878~~810.3233 60 Days 79 0 0 0 79 ~~487~~607,~~351~~496.7977 0.00 0.00 0.00 ~~487~~607,~~351~~496.7977 90 Days 15 0 0 0 15 71344,~~854~~062.1658 0.00 0.00 0.00 71344,~~854~~062.1658 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 01 0 0 0 01 062,593.0077 0.00 0.00 0.00 062,593.0077 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2739 0 0 0 2739 23,~~037~~429,~~084~~963.2745 0.00 0.00 0.00 23,~~037~~429,~~084~~963.2745 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.~~000000~~558635% 0.000000% 0.000000% 0.000000% 2.~~000000~~558635% 12.~~682136~~795914% 0.000000% 0.000000% 0.000000% 12.~~682136~~795914% 60 Days 0.~~736842~~959488% 0.000000% 0.000000% 0.000000% 0.~~736842~~959488% 0.~~554709~~703080% 0.000000% 0.000000% 0.000000% 0.~~554709~~703080% 90 Days 0.~~105263~~533049% 0.000000% 0.000000% 0.000000% 0.~~105263~~533049% 0.~~081785~~398197% 0.000000% 0.000000% 0.000000% 0.~~081785~~398197% 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~~106610% 0.000000% 0.000000% 0.000000% 0.~~000000~~106610% 0.~~000000~~072442% 0.000000% 0.000000% 0.000000% 0.~~000000~~072442% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 24.~~842105~~157783% 0.000000% 0.000000% 0.000000% 24.~~842105~~157783% 23.~~318630~~969634% 0.000000% 0.000000% 0.000000% 23.~~318630~~969634% DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP I, Sub Grp 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 4254 0 0 0 4254 46,~~154~~499,~~318~~697.5143 0.00 0.00 0.00 46,~~154~~499,~~318~~697.5143 60 Days 1923 0 0 0 1923 2,~~054~~289,~~873~~180.3452 0.00 0.00 0.00 2,~~054~~289,~~873~~180.3452 90 Days 215 0 0 0 215 ~~440~~1,~~365~~569,033.7199 0.00 0.00 0.00 ~~440~~1,~~365~~569,033.7199 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 6392 0 0 0 6392 610,~~649~~357,~~557~~911.5694 0.00 0.00 0.00 610,~~649~~357,~~557~~911.5694 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.~~189781~~864721% 0.000000% 0.000000% 0.000000% 2.~~189781~~864721% 12.~~710591~~728998% 0.000000% 0.000000% 0.000000% 12.~~710591~~728998% 60 Days 01.~~990615~~220159% 0.000000% 0.000000% 0.000000% 01.~~990615~~220159% 0.~~846119~~961148% 0.000000% 0.000000% 0.000000% 0.~~846119~~961148% 90 Days 0.~~104275~~795756% 0.000000% 0.000000% 0.000000% 0.~~104275~~795756% 0.~~181326~~658783% 0.000000% 0.000000% 0.000000% 0.~~181326~~658783% 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 34.~~284672~~880637% 0.000000% 0.000000% 0.000000% 34.~~284672~~880637% 24.~~738036~~348929% 0.000000% 0.000000% 0.000000% 24.~~738036~~348929% DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP II, Sub Grp 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 31 0 0 0 31 ~~521~~308,~~441~~886.1967 0.00 0.00 0.00 ~~521~~308,~~441~~886.1967 60 Days 3 0 0 0 3 ~~430~~521,~~942~~441.0019 0.00 0.00 0.00 ~~430~~521,~~942~~441.0019 90 Days 03 0 0 0 03 0430,942.00 0.00 0.00 0.00 0430,942.00 120 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 67 0 0 0 67 ~~952~~1,~~383~~261,269.1986 0.00 0.00 0.00 ~~952~~1,~~383~~261,269.1986 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~803738~~943396% 0.000000% 0.000000% 0.000000% 20.~~803738~~943396% 21.~~811666~~673349% 0.000000% 0.000000% 0.000000% 21.~~811666~~673349% 60 Days 2.~~803738~~830189% 0.000000% 0.000000% 0.000000% 2.~~803738~~830189% 2.~~323684~~824833% 0.000000% 0.000000% 0.000000% 2.~~323684~~824833% 90 Days 02.~~000000~~830189% 0.000000% 0.000000% 0.000000% 02.~~000000~~830189% 02.~~000000~~334567% 0.000000% 0.000000% 0.000000% 02.~~000000~~334567% 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 56.~~607477~~603774% 0.000000% 0.000000% 0.000000% 56.~~607477~~603774% 56.~~135350~~832749% 0.000000% 0.000000% 0.000000% 56.~~135350~~832749% DELINQUENT BANKRUPTCY FORECLOSURE REO Total GRP II, Sub Grp 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 38 0 0 0 38 ~~759~~1,~~605~~295,258.8416 0.00 0.00 0.00 ~~759~~1,~~605~~295,258.8416 60 Days 13 0 0 0 13 ~~323~~1,~~718~~128,545.5085 0.00 0.00 0.00 ~~323~~1,~~718~~128,545.5085 90 Days 01 0 0 0 01 0323,718.0050 0.00 0.00 0.00 0323,718.0050 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 412 0 0 0 412 12,~~083~~747,~~324~~522.3451 0.00 0.00 0.00 12,~~083~~747,~~324~~522.3451 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 13.~~376147~~755869% 0.000000% 0.000000% 0.000000% 13.~~376147~~755869% 12.~~489227~~632462% 0.000000% 0.000000% 0.000000% 12.~~489227~~632462% 60 Days 01.~~458716~~408451% 0.000000% 0.000000% 0.000000% 01.~~458716~~408451% 02.~~634659~~293639% 0.000000% 0.000000% 0.000000% 02.~~634659~~293639% 90 Days 0.~~000000~~469484% 0.000000% 0.000000% 0.000000% 0.~~000000~~469484% 0.~~000000~~657920% 0.000000% 0.000000% 0.000000% 0.~~000000~~657920% 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 15.~~834862~~633803% 0.000000% 0.000000% 0.000000% 15.~~834862~~633803% 25.~~123886~~584022% 0.000000% 0.000000% 0.000000% 25.~~123886~~584022%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 83136,~~325~~025.0095

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.~~623665~~624106% Weighted Average Net Coupon 8.~~123665~~124106% Weighted Average Pass-Through Rate 7.~~437041~~436867% Weighted Average Maturity(Stepdown Calculation ) ~~342~~341 Beginning Scheduled Collateral Loan Count 3,~~239~~193 Number Of Loans Paid In Full 4651 Ending Scheduled Collateral Loan Count 3,~~193~~142 Beginning Scheduled Collateral Balance ~~408~~399,~~115~~991,~~785~~263.1321 Ending Scheduled Collateral Balance ~~399~~391,~~991~~944,~~263~~283.2105 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 ~~400~~392,~~268~~239,~~271~~056.5251 Monthly P &I Constant 3,~~207~~144,~~390~~922.0069 Special Servicing Fee 0.00 Prepayment Penalties ~~124~~118,~~376~~445.2493 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~399~~391,~~991~~944,~~263~~283.2105 Scheduled Principal ~~274~~270,~~511~~283.8951 Unscheduled Principal 7,~~850~~776,~~010~~696.0365 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.1300 Specified O/C Amount 7,142,~~785~~685.00 Overcollateralized Amount 7,142,~~785~~685.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 8.~~623665~~624106% Weighted Average Net Rate 8.~~123665~~124106% Weighted Average Pass Through Rate 7.~~437041~~436867% Weighted Average Maturity ~~342~~341 Record Date 0809/3130/2003 Principal and Interest Constant 3,~~207~~144,~~390~~922.0069 Beginning Loan Count 3,~~239~~193 Loans Paid in Full 4651 Ending Loan Count 3,~~193~~142 Beginning Scheduled Balance ~~408~~399,~~115~~991,~~785~~263.1321 Ending Scheduled Balance ~~399~~391,~~991~~944,~~263~~283.2105 Ending Actual Balance at 3130-~~Aug~~Sep-2003 ~~400~~392,~~268~~239,~~271~~056.5251 Scheduled Principal ~~274~~270,~~511~~283.8951 Unscheduled Principal 7,~~850~~776,~~010~~696.0365 Scheduled Interest 2,~~932~~874,~~878~~639.1118 Servicing Fee ~~170~~166,~~048~~663.2105 Master Servicing Fee 5,~~951~~833.6421 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee ~~227~~223,~~566~~241.6454 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 2,~~529~~478,~~311~~901.6238 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Special Servicing Fee 0.00 Prepayment Penalties ~~124~~118,~~376~~445.2493 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized Reduction Amount 0.1300 Specified O/C Amount 7,142,~~785~~685.00 Overcollateralized Amount 7,142,~~785~~685.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralization Amount 0.00

Group Level Collateral Statement Group GRP I, Sub Grp 1 GRP I, Sub Grp 2 GRP II, Sub Grp 1 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 8.~~737205~~735497 8.~~649208~~647145 8.~~443981~~432553 Weighted Average Net Rate 8.~~237205~~235497 8.~~149208~~147145 7.~~943981~~932553 Weighted Average Maturity ~~306~~305 ~~353~~352 ~~321~~320 Beginning Loan Count ~~953~~950 1,~~957~~918 ~~109~~107 Loans Paid In Full 312 3933 21 Ending Loan Count ~~950~~938 1,~~918~~885 ~~107~~106 Beginning Scheduled Balance 8887,~~118~~788,~~511~~733.1650 ~~249~~242,~~078~~701,~~998~~768.2464 1918,~~148~~531,~~910~~228.8198 Ending scheduled Balance 8786,~~788~~332,~~733~~522.5066 ~~242~~238,~~701~~003,~~768~~121.6451 18,~~531~~443,~~228~~927.9863 Record Date 0809/3130/2003 0809/3130/2003 0809/3130/2003 Principal And Interest Constant ~~710~~708,~~607~~504.7952 1,~~953~~902,~~089~~707.3169 ~~147~~143,~~909~~117.4841 Scheduled Principal 69,~~016~~439.5236 ~~157~~153,809.2079 1312,~~165~~896.2810 Unscheduled Principal ~~260~~1,~~761~~386,771.1448 64,~~219~~544,~~420~~837.4034 ~~604~~74,~~516~~405.5525 Scheduled Interest ~~641~~639,~~591~~065.2716 1,~~795~~748,~~280~~897.1190 ~~134~~130,~~744~~221.2031 Servicing Fees 36,~~716~~578.0465 ~~103~~101,~~782~~125.9074 7,~~978~~721.7135 Master Servicing Fees 1,~~285~~280.0326 3,~~632~~539.39 ~~279~~270.25 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 52,~~623~~365.3292 ~~137~~135,~~408~~038.2458 11,~~882~~136.7635 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 ~~550~~548,~~966~~840.8833 1,~~550~~509,~~456~~194.5819 ~~114~~111,~~603~~093.4836 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.~~503080~~502197 7.~~469710~~461969 7.~~181828~~193914

Group Level Collateral Statement Group GRP II, Sub Grp 2 Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 8.~~373969~~392186 8.~~623665~~624106 Weighted Average Net Rate 7.~~873969~~892185 8.~~123665~~124106 Weighted Average Maturity ~~353~~352 ~~342~~341 Beginning Loan Count ~~220~~218 3,~~239~~193 Loans Paid In Full 25 4651 Ending Loan Count ~~218~~213 3,~~193~~142 Beginning Scheduled Balance 5150,~~769~~969,~~364~~532.9209 ~~408~~399,~~115~~991,~~785~~263.1321 Ending scheduled Balance 5049,~~969~~164,~~532~~711.0925 ~~399~~391,~~991~~944,~~263~~283.2105 Record Date 0809/3130/2003 0809/3130/2003 Principal And Interest Constant ~~395~~390,~~783~~593.4207 3,~~207~~144,~~390~~922.0069 Scheduled Principal 34,~~520~~138.8926 ~~274~~270,~~511~~283.8951 Unscheduled Principal ~~765~~1,~~311~~770,682.9458 7,~~850~~776,~~010~~696.0365 Scheduled Interest ~~361~~356,~~262~~454.5381 2,~~932~~874,~~878~~639.1118 Servicing Fees 21,~~570~~237.5631 ~~170~~166,~~048~~663.2105 Master Servicing Fees ~~754~~743.9731 5,~~951~~833.6421 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 2524,~~652~~700.3269 ~~227~~223,~~566~~241.6454 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 ~~313~~309,~~284~~773.6850 2,~~529~~478,~~311~~901.6238 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 7.~~261855~~293145 7.~~437041~~436867

Filing Compare · ACE SECURITIES CORP HOME EQUITY LOAN TRUST SERIES 2003 HS1