8-K 1 thb03004.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 THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage-Backed Notes, Series 2003-4 Trust (Exact name of registrant as specified in its charter) Delaware (governing law of 333-104153-10 Pending 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 October 27, 2003 a distribution was made to holders of THORNBURG MORTGAGE SECURITIES CORPORATION, Mortgage-Backed Notes, Series 2003-4 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-Backed Notes, Series 2003-4 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. THORNBURG MORTGAGE SECURITIES CORPORATION Mortgage-Backed Notes, Series 2003-4 Trust By: Wells Fargo Bank Minnesota, N.A., as Master Servicer By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/28/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage- Backed Notes, Series 2003-4 Trust, relating to the October 27, 2003 distribution. EX-99.1

Thornburg Mortgage Home Loans, Inc. Mortgage-Backed Notes Record Date: 89/3130/03 Distribution Date: 910/2527/03 THB Series: 2003-4 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 885220DW0 SEN 1.~~43000~~44000% 1,~~315~~298,~~669~~203,~~000~~263.0042 1,~~411~~557,~~055~~843.0091 17,~~465~~910,~~736~~831.5890 A2 885220EA7 SEN 1.~~71000~~72000% 3837,~~389~~879,~~000~~379.0030 4954,~~233~~293.8978 ~~509~~522,~~620~~607.7083 M1 885220DX8 SUB 1.~~76000~~77000% 27,~~919~~548,~~000~~370.0038 3640,~~853~~633.0885 ~~370~~380,~~629~~074.6271 M2 885220DY6 SUB 2.~~81000~~82000% 13,~~959~~773,~~000~~691.0083 2932,~~418~~368.5918 ~~185~~190,~~308~~030.1755 OwnerTrust SEN 0.00000% 0.00 2,552,265.39 0.00 OC SEN 0.00000% 0.00 0.00 0.00 Totals 1,~~395~~377,~~936~~404,~~000~~704.0093 14,~~526~~237,~~560~~405.5611 1819,~~531~~003,~~295~~544.0799

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 1,~~298~~280,~~203~~292,~~263~~431.4253 1819,~~876~~468,~~791~~675.5881 0.00 A2 0.00 37,~~879~~356,~~379~~771.3046 ~~558~~576,~~854~~901.5961 0.00 M1 0.00 27,~~548~~168,~~370~~295.3867 ~~407~~420,~~482~~708.7056 0.00 M2 0.00 13,~~773~~583,~~691~~661.8328 ~~214~~222,~~726~~398.7673 0.00 OwnerTrust 0.00 0.00 2,552,265.39 0.00 OC 0.00 0.00 0.00 0.00 Totals 0.00 1,~~377~~358,~~404~~401,~~704~~159.9394 2023,~~057~~240,~~855~~950.6310 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 1,315,669,000.00 1,~~315~~298,~~669~~203,~~000~~263.0042 0.00 17,~~465~~910,~~736~~831.5890 0.00 0.00 A2 38,389,000.00 3837,~~389~~879,~~000~~379.0030 0.00 ~~509~~522,~~620~~607.7083 0.00 0.00 M1 27,919,000.00 27,~~919~~548,~~000~~370.0038 0.00 ~~370~~380,~~629~~074.6271 0.00 0.00 M2 13,959,000.00 13,~~959~~773,~~000~~691.0083 0.00 ~~185~~190,~~308~~030.1755 0.00 0.00 OwnerTrust 0.00 0.00 0.00 0.00 0.00 0.00 OC 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,395,936,000.00 1,~~395~~377,~~936~~404,~~000~~704.0093 0.00 1819,~~531~~003,~~295~~544.0799 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 17,~~465~~910,~~736~~831.5890 1,~~298~~280,~~203~~292,~~263~~431.4253 0.~~98672482~~97311135 17,~~465~~910,~~736~~831.5890 A2 ~~509~~522,~~620~~607.7083 37,~~879~~356,~~379~~771.3046 0.~~98672482~~97311135 ~~509~~522,~~620~~607.7083 M1 ~~370~~380,~~629~~074.6271 27,~~548~~168,~~370~~295.3867 0.~~98672482~~97311135 ~~370~~380,~~629~~074.6271 M2 ~~185~~190,~~308~~030.1755 13,~~773~~583,~~691~~661.8328 0.~~98672482~~97311135 ~~185~~190,~~308~~030.1755 OwnerTrust 0.00 0.00 0.00000000 0.00 OC 0.00 0.00 0.00000000 0.00 Totals 1819,~~531~~003,~~295~~544.0799 1,~~377~~358,~~404~~401,~~704~~159.9394 0.~~98672482~~97311135 1819,~~531~~003,~~295~~544.0799

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 1,315,669,000.00 ~~1000~~986.~~00000000~~72482472 0.00000000 13.~~27517528~~61347869 0.00000000 A2 38,389,000.00 ~~1000~~986.~~00000000~~72482482 0.00000000 13.~~27517518~~61347860 0.00000000 M1 27,919,000.00 ~~1000~~986.~~00000000~~72482467 0.00000000 13.~~27517533~~61347863 0.00000000 M2 13,959,000.00 ~~1000~~986.~~00000000~~72482484 0.00000000 13.~~27517516~~61347876 0.00000000 OwnerTrust 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00 0.00000000 0.00000000 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 13.~~27517528~~61347869 ~~986~~973.~~72482472~~11134604 0.~~98672482~~97311135 13.~~27517528~~61347869 A2 0.00000000 13.~~27517518~~61347860 ~~986~~973.~~72482482~~11134596 0.~~98672482~~97311135 13.~~27517518~~61347860 M1 0.00000000 13.~~27517533~~61347863 ~~986~~973.~~72482467~~11134604 0.~~98672482~~97311135 13.~~27517533~~61347863 M2 0.00000000 13.~~27517516~~61347876 ~~986~~973.~~72482484~~11134608 0.~~98672482~~97311135 13.~~27517516~~61347876 OwnerTrust 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, 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 A1 1,315,669,000.00 1.~~43000~~44000% 1,~~315~~298,~~669~~203,~~000~~263.0042 1,~~411~~557,~~055~~843.0092 0.00 0.00 A2 38,389,000.00 1.~~71000~~72000% 3837,~~389~~879,~~000~~379.0030 4954,~~233~~293.8978 0.00 0.00 M1 27,919,000.00 1.~~76000~~77000% 27,~~919~~548,~~000~~370.0038 3640,~~853~~633.0885 0.00 0.00 M2 13,959,000.00 2.~~81000~~82000% 13,~~959~~773,~~000~~691.0083 2932,~~418~~368.5918 0.00 0.00 OwnerTrust 0.00 0.00000% 0.00 0.00 0.00 0.00 OC 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,395,936,000.00 1,~~526~~685,~~560~~139.5673 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 0.0001 0.00 1,~~411~~557,~~055~~843.0091 0.00 1,~~298~~280,~~203~~292,~~263~~431.4253 A2 0.00 0.00 4954,~~233~~293.8978 0.00 37,~~879~~356,~~379~~771.3046 M1 0.00 0.00 3640,~~853~~633.0885 0.00 27,~~548~~168,~~370~~295.3867 M2 0.00 0.00 2932,~~418~~368.5918 0.00 13,~~773~~583,~~691~~661.8328 OwnerTrust 0.00 0.00 2,552,265.39 0.00 0.00 OC 0.00 0.00 0.00 0.00 0.00 Totals 0.0001 0.00 14,~~526~~237,~~560~~405.5611 0.00 (4) Amount Does Not Include Excess Special Hazard, 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 A1 1,315,669,000.00 1.~~43000~~44000% ~~1000~~986.~~00000000~~72482472 1.~~07250000~~18406979 0.00000000 0.00000000 A2 38,389,000.00 1.~~71000~~72000% ~~1000~~986.~~00000000~~72482482 1.~~28249993~~41430566 0.00000000 0.00000000 M1 27,919,000.00 1.~~76000~~77000% ~~1000~~986.~~00000000~~72482467 1.~~32000000~~45541925 0.00000000 0.00000000 M2 13,959,000.00 2.~~81000~~82000% ~~1000~~986.~~00000000~~72482484 2.~~10749982~~31880364 0.00000000 0.00000000 OwnerTrust 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00 0.00000% 0.00000000 0.00000000 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~~00000001 0.00000000 1.~~07250000~~18406979 0.00000000 ~~986~~973.~~72482472~~11134604 A2 0.00000000 0.00000000 1.~~28249993~~41430566 0.00000000 ~~986~~973.~~72482482~~11134596 M1 0.00000000 0.00000000 1.~~32000000~~45541925 0.00000000 ~~986~~973.~~72482467~~11134604 M2 0.00000000 0.00000000 2.~~10749982~~31880364 0.00000000 ~~986~~973.~~72482484~~11134608 OwnerTrust 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, 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 2023,~~447~~649,~~780~~405.7805 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3134,~~611~~489.7903 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 06,800.00 Total Deposits 2023,~~479~~690,~~392~~694.5708 Withdrawals Reimbursement for Servicer Advances 031,611.0079 Payment of Service Fee ~~421~~418,~~536~~132.9419 Payment of Interest and Principal 2023,~~057~~240,~~855~~950.6310 Total Withdrawals (Pool Distribution Amount) 2023,~~479~~690,~~392~~694.5708 Ending Balance 0.00

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

SERVICING FEES Gross Servicing Fee ~~401~~396,~~179~~842.5255 Master Servicing Fee- Wells Fargo 20,~~357~~132.4275 Trustee Fee - Deutsche Bank 1,156.89 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~421~~418,~~536~~132.9419

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 1517 0 0 0 1517 89,~~557~~608,~~321~~105.7601 0.00 0.00 0.00 89,~~557~~608,~~321~~105.7601 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 1517 0 0 0 1517 89,~~557~~608,~~321~~105.7601 0.00 0.00 0.00 89,~~557~~608,~~321~~105.7601 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 0.~~479693~~548741% 0.000000% 0.000000% 0.000000% 0.~~479693~~548741% 0.~~619783~~705412% 0.000000% 0.000000% 0.000000% 0.~~619783~~705412% 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.~~479693~~548741% 0.000000% 0.000000% 0.000000% 0.~~479693~~548741% 0.~~619783~~705412% 0.000000% 0.000000% 0.000000% 0.~~619783~~705412%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 3134,~~611~~489.7903

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~361541~~356009% Weighted Average Net Coupon 4.~~016672~~010888% Weighted Average Pass-Through Rate 3.~~999001~~992887% Weighted Average Maturity(Stepdown Calculation ) ~~358~~357 Beginning Scheduled Collateral Loan Count 3,~~150~~127 Number Of Loans Paid In Full 2329 Ending Scheduled Collateral Loan Count 3,~~127~~098 Beginning Scheduled Collateral Balance 1,~~395~~380,~~936~~531,~~000~~564.0058 Ending Scheduled Collateral Balance 1,~~380~~361,~~531~~891,~~564~~003.58 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 1,~~380~~362,~~696~~055,~~268~~117.8515 Monthly P &I Constant 5,~~320~~257,~~948~~250.6859 Special Servicing Fee 0.00 Prepayment Penalties 06,800.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 1,~~380~~361,~~531~~891,~~564~~003.58 Scheduled Principal ~~247~~245,~~249~~328.7044 Unscheduled Principal 1518,~~158~~395,~~642~~232.8456 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 3362,~~125,402~~983.5399 Overcollateralized reduction Amount 0.00 Specified O/C Amount 3,489,843.64 Overcollateralized Amount 3,~~126~~489,~~859~~843.6564 Overcollateralized Deficiency Amount ~~362,983~~0.9900 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 3362,~~125,402~~983.5399 Excess Cash Amount 32,~~125~~915,~~402~~251.53

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Coupon Rate 4.~~361541~~356009% Weighted Average Net Rate 4.~~016672~~010888% Weighted Average Pass Through Rate 3.~~999001~~992887% Weighted Average Maturity ~~358~~357 Record Date 0809/3130/2003 Principal and Interest Constant 5,~~320~~257,~~948~~250.6859 Beginning Loan Count 3,~~150~~127 Loans Paid in Full 2329 Ending Loan Count 3,~~127~~098 Beginning Scheduled Balance 1,~~395~~380,~~936~~531,~~000~~564.0058 Ending Scheduled Balance 1,~~380~~361,~~531~~891,~~564~~003.58 Ending Actual Balance at 3130-~~Aug~~Sep-2003 1,~~380~~362,~~696~~055,~~268~~117.8515 Scheduled Principal ~~247~~245,~~249~~328.7044 Unscheduled Principal 1518,~~158~~395,~~642~~232.8456 Scheduled Interest 5,~~073~~011,~~698~~922.9815 Servicing Fee ~~401~~396,~~179~~842.5255 Master Servicing Fee 20,~~357~~132.4275 Trustee Fee 01,156.0089 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 198.9371 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 4,~~651~~594,~~963~~172.1190 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Special Servicing Fee 0.00 Prepayment Penalties 06,800.00 Required Overcollateralized Amount 0.00 Overcollateralized Increase Amount 3362,~~125,402~~983.5399 Overcollateralized Reduction Amount 0.00 Specified O/C Amount 3,489,843.64 Overcollateralized Amount 3,~~126~~489,~~859~~843.6564 Overcollateralized Deficiency Amount ~~362,983~~0.9900 Base Overcollateralization Amount 0.00

Filing Compare · GREENWICH CAPITAL ACCEPTANCE THORNBURG SEC TR 2003-4