8-K 1 ace03fm1.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): November 25, 2003 ACE SECURITIES CORP. Asset-Backed Pass-Through Certificates, Series 2003-FM1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-45458-08 54-2116960 Pooling and Servicing Agreement) (Commission 54-2116961 (State or other File Number) 54-2120395 jurisdiction IRS EIN 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 November 25, 2003 a distribution was made to holders of ACE SECURITIES CORP., Asset-Backed Pass-Through Certificates, 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 Certificates, Series 2003-FM1 Trust, relating to the November 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. Asset-Backed Pass-Through Certificates, Series 2003-FM1 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 11/25/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Pass-Through Certificates, Series 2003-FM1 Trust, relating to the November 25, 2003 distribution. EX-99.1

ACE Securities Corporation Asset-Backed Pass-Through Certificates Record Date: 910/3031/03 Distribution Date: 1011/2725/03 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 1.46000% ~~267~~254,~~915~~987,~~659~~596.3319 ~~347~~299,~~694~~893.9975 1213,~~928~~569,~~063~~343.1476 A-2 004421BP7 SEN 1.49000% 5755,~~958~~495,~~011~~319.9486 7666,~~762~~609.1680 2,~~462~~927,~~692~~377.0840 A-IO 004421BQ5 SEN 5.50000% 0.00 208,289.58 0.00 M-1 004421BR3 MEZ 1.98000% 27,267,000.00 4743,~~989~~490.9286 0.00 M-2 004421BS1 MEZ 2.97000% 26,131,000.00 6862,~~985~~518.8442 0.00 M-3 004421BT9 MEZ 3.25000% 4,544,000.00 1311,~~127~~896.1144 0.00 M-4 004421BU6 MEZ 4.62000% 7,953,000.00 3229,~~660~~598.3241 0.00 M-5 004421BV4 MEZ 4.62000% 9,089,000.00 3733,~~325~~826.4923 0.00 M-6 004421BW2 MEZ 4.62000% 4,544,000.00 1816,~~660~~911.6925 0.00 CE ACE03F1CE SUB 0.00000% 9,089,206.00 1,~~814~~790,~~624~~963.1264 0.00 P ACE03FM1P SEN 0.00000% 100.00 ~~471~~476,~~290~~786.5150 0.00 R-III ACE03F1R1 SEN 0.00000% 0.00 0.00 0.00 Totals ~~414~~399,~~490~~100,~~977~~222.2705 3,~~137~~040,~~410~~784.7388 1516,~~390~~496,~~755~~721.2216

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~254~~241,~~987~~418,~~596~~252.1943 13,~~275~~869,~~758~~237.1351 0.00 A-2 0.00 5552,~~495~~567,~~319~~942.8646 2,~~539~~993,~~454~~987.2420 0.00 A-IO 0.00 0.00 208,289.58 0.00 M-1 0.00 27,267,000.00 4743,~~989~~490.9286 0.00 M-2 0.00 26,131,000.00 6862,~~985~~518.8442 0.00 M-3 0.00 4,544,000.00 1311,~~127~~896.1144 0.00 M-4 0.00 7,953,000.00 3229,~~660~~598.3241 0.00 M-5 0.00 9,089,000.00 3733,~~325~~826.4923 0.00 M-6 0.00 4,544,000.00 1816,~~660~~911.6925 0.00 CE 0.00 9,089,206.00 1,~~814~~790,~~624~~963.1264 0.00 P 0.00 100.00 ~~471~~476,~~290~~786.5150 0.00 R-III 0.00 0.00 0.00 0.00 Totals 0.00 ~~399~~382,~~100~~603,~~222~~500.0589 1819,~~528~~537,~~165~~506.9504 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 ~~267~~254,~~915~~987,~~659~~596.3319 0.00 1213,~~928~~569,~~063~~343.1476 0.00 0.00 A-2 67,458,000.00 5755,~~958~~495,~~011~~319.9486 0.00 2,~~462~~927,~~692~~377.0840 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 ~~414~~399,~~490~~100,~~977~~222.2705 0.00 1516,~~390~~496,~~755~~721.2216 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 1213,~~928~~569,~~063~~343.1476 ~~254~~241,~~987~~418,~~596~~252.1943 0.~~85459053~~80911290 1213,~~928~~569,~~063~~343.1476 A-2 2,~~462~~927,~~692~~377.0840 5552,~~495~~567,~~319~~942.8646 0.~~82266477~~77926921 2,~~462~~927,~~692~~377.0840 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 1516,~~390~~496,~~755~~721.2216 ~~399~~382,~~100~~603,~~222~~500.0589 0.~~87820625~~84190579 1516,~~390~~496,~~755~~721.2216

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 ~~897~~854.~~91891830~~59053466 0.00000000 4345.~~32838364~~47763465 0.00000000 A-2 67,458,000.00 ~~859~~822.~~17180972~~66476711 0.00000000 3643.~~50704260~~39555575 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 4345.~~32838364~~47763465 ~~854~~809.~~59053466~~11290002 0.~~85459053~~80911290 4345.~~32838364~~47763465 A-2 0.00000000 3643.~~50704260~~39555575 ~~822~~779.~~66476711~~26921136 0.~~82266477~~77926921 3643.~~50704260~~39555575 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, 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-1 298,374,000.00 1.46000% ~~267~~254,~~915~~987,~~659~~596.3319 ~~347~~299,~~694~~893.9975 0.00 0.00 A-2 67,458,000.00 1.49000% 5755,~~958~~495,~~011~~319.9486 7666,~~762~~609.1780 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 1.98000% 27,267,000.00 4743,~~989~~490.9286 0.00 0.00 M-2 26,131,000.00 2.97000% 26,131,000.00 6862,~~985~~518.8442 0.00 0.00 M-3 4,544,000.00 3.25000% 4,544,000.00 1311,~~127~~896.1144 0.00 0.00 M-4 7,953,000.00 4.62000% 7,953,000.00 3229,~~660~~598.3241 0.00 0.00 M-5 9,089,000.00 4.62000% 9,089,000.00 3733,~~325~~826.4923 0.00 0.00 M-6 4,544,000.00 4.62000% 4,544,000.00 1816,~~660~~911.6925 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 ~~851~~773,~~496~~034.1174 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 ~~347~~299,~~694~~893.9975 0.00 ~~254~~241,~~987~~418,~~596~~252.1943 A-2 0.00 0.00 7666,~~762~~609.1680 0.00 5552,~~495~~567,~~319~~942.8646 A-IO 0.00 0.00 208,289.58 0.00 45,445,000.00 M-1 0.00 0.00 4743,~~989~~490.9286 0.00 27,267,000.00 M-2 0.00 0.00 6862,~~985~~518.8442 0.00 26,131,000.00 M-3 0.00 0.00 1311,~~127~~896.1144 0.00 4,544,000.00 M-4 0.00 0.00 3229,~~660~~598.3241 0.00 7,953,000.00 M-5 0.00 0.00 3733,~~325~~826.4923 0.00 9,089,000.00 M-6 0.00 0.00 1816,~~660~~911.6925 0.00 4,544,000.00 CE 0.00 0.00 1,~~814~~790,~~624~~963.1264 0.00 9,089,206.00 P 0.00 0.00 ~~471~~476,~~290~~786.5150 0.00 100.00 R-III 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 3,~~137~~040,~~410~~784.7388 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 A-1 298,374,000.00 1.46000% ~~897~~854.~~91891830~~59053466 1.~~16529922~~00509344 0.00000000 0.00000000 A-2 67,458,000.00 1.49000% ~~859~~822.~~17180972~~66476711 10.~~13792538~~98742625 0.00000000 0.00000000 A-IO 0.00 5.50000% 1000.00000000 4.58333326 0.00000000 0.00000000 M-1 27,267,000.00 1.98000% 1000.00000000 1.~~76000000~~59499982 0.00000000 0.00000000 M-2 26,131,000.00 2.97000% 1000.00000000 2.~~64000000~~39250010 0.00000000 0.00000000 M-3 4,544,000.00 3.25000% 1000.00000000 2.~~88888864~~61805458 0.00000000 0.00000000 M-4 7,953,000.00 4.62000% 1000.00000000 43.~~10666667~~72166604 0.00000000 0.00000000 M-5 9,089,000.00 4.62000% 1000.00000000 43.~~10666630~~72166685 0.00000000 0.00000000 M-6 4,544,000.00 4.62000% 1000.00000000 43.~~10666593~~72166593 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.~~16529922~~00509344 0.00000000 ~~854~~809.~~59053466~~11290002 A-2 0.00000000 0.00000000 10.~~13792523~~98742625 0.00000000 ~~822~~779.~~66476711~~26921136 A-IO 0.00000000 0.00000000 4.58333326 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.~~76000000~~59499982 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~64000000~~39250010 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~88888864~~61805458 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 43.~~10666667~~72166604 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 43.~~10666630~~72166685 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 43.~~10666593~~72166593 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~199~~197.~~64603600~~04289578 0.00000000 999.99990538 P 0.00000000 0.00000000 ~~4712905~~4767865.~~10000000~~00000000 0.00000000 1000.00000000 R-III 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 1819,~~218~~241,~~828~~697.3023 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~246~~238,~~069~~867.8000 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties ~~471~~476,~~290~~786.5150 Total Deposits 1819,~~936~~957,~~188~~350.6173 Withdrawals Reimbursement for Servicer Advances ~~227~~246,~~546~~069.3880 Payment of Service Fee ~~180~~173,~~476~~774.2889 Payment of Interest and Principal 1819,~~528~~537,~~165~~506.9504 Total Withdrawals (Pool Distribution Amount) 1819,~~936~~957,~~188~~350.6173 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~172~~166,~~704~~291.5775 Master Servicing Fee - Wells Fargo 7,~~771~~483.7114 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~180~~173,~~476~~774.2889

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 ~~113~~105 0 0 0 ~~113~~105 1411,~~006~~911,~~598~~451.6111 0.00 0.00 0.00 1411,~~006~~911,~~598~~451.6111 60 Days 5455 0 0 0 5455 6,~~572~~418,~~463~~728.9924 0.00 0.00 0.00 6,~~572~~418,~~463~~728.9924 90 Days 3628 0 0 0 3628 43,~~121~~744,~~046~~453.3531 0.00 0.00 0.00 43,~~121~~744,~~046~~453.3531 120 Days 2426 0 0 0 2426 2,~~374~~919,~~197~~387.4606 0.00 0.00 0.00 2,~~374~~919,~~197~~387.4606 150 Days 2711 03 19 0 2823 2382,~~890,984~~129.0460 0181,711.0072 ~~147~~1,~~429~~421,506.6630 0.00 31,~~038~~985,~~413~~347.7062 180+ Days 210 03 617 0 830 ~~158~~645,~~281~~232.0036 0367,795.0035 ~~832~~2,~~885~~089,289.2156 0.00 ~~991~~3,~~166~~102,317.2127 Totals ~~256~~235 06 726 0 ~~263~~267 3026,~~123~~021,~~571~~381.4568 0549,507.0007 ~~980~~3,~~314~~510,795.8786 0.00 3130,~~103~~081,~~886~~684.3261 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 3.~~377167~~266957% 0.000000% 0.000000% 0.000000% 3.~~377167~~266957% 3.~~505788~~109957% 0.000000% 0.000000% 0.000000% 3.~~505788~~109957% 60 Days 1.~~613867~~711263% 0.000000% 0.000000% 0.000000% 1.~~613867~~711263% 1.~~645058~~675864% 0.000000% 0.000000% 0.000000% 1.~~645058~~675864% 90 Days 10.~~075912~~871189% 0.000000% 0.000000% 0.000000% 10.~~075912~~871189% 10.~~031479~~977638% 0.000000% 0.000000% 0.000000% 10.~~031479~~977638% 120 Days 0.~~717274~~808961% 0.000000% 0.000000% 0.000000% 0.~~717274~~808961% 0.~~594251~~762222% 0.000000% 0.000000% 0.000000% 0.~~594251~~762222% 150 Days 0.~~806934~~342253% 0.~~000000~~093342% 0.~~029886~~280025% 0.000000% 0.~~836820~~715619% 0.~~723600~~099770% 0.~~000000~~047443% 0.~~036901~~371141% 0.000000% 0.~~760501~~518354% 180+ Days 0.~~059773~~311139% 0.~~000000~~093342% 0.~~179319~~528936% 0.000000% 0.~~239091~~933416% 0.~~039617~~168464% 0.~~000000~~096028% 0.~~208467~~545492% 0.000000% 0.~~248084~~809983% Totals 7.~~650926~~311761% 0.~~000000~~186683% 0.~~209205~~808961% 0.000000% 78.~~860132~~307405% 76.~~539794~~793914% 0.~~000000~~143471% 0.~~245368~~916633% 0.000000% 7.~~785162~~854017%

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 ~~103~~97 0 0 0 ~~103~~97 1210,~~283~~931,~~178~~191.6452 0.00 0.00 0.00 1210,~~283~~931,~~178~~191.6452 60 Days 4951 0 0 0 4951 5,~~782~~846,~~564~~496.3675 0.00 0.00 0.00 5,~~782~~846,~~564~~496.3675 90 Days 3224 0 0 0 3224 32,~~205~~854,~~740~~888.4547 0.00 0.00 0.00 32,~~205~~854,~~740~~888.4547 120 Days 2024 0 0 0 2024 12,~~497~~469,~~393~~854.43 0.00 0.00 0.00 12,~~497~~469,~~393~~854.43 150 Days 2410 03 17 0 2520 2322,~~735,600~~559.4447 0181,711.0072 ~~147~~993,~~429~~122.6624 0.00 21,~~883~~497,~~030~~393.1043 180 Days 28 03 517 0 728 ~~158~~567,~~281~~107.0010 0367,795.0035 ~~434~~2,~~052~~089,289.8256 0.00 ~~592~~3,~~333~~024,192.8201 Totals ~~230~~214 0 6 24 0 ~~236~~244 2522,~~662~~992,~~758~~097.3274 0549,507.0007 ~~581~~3,~~482~~082,411.4880 0.00 26,~~244~~624,~~240~~016.8061 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 3.~~417386~~348291% 0.000000% 0.000000% 0.000000% 3.~~417386~~348291% 3.~~749258~~480882% 0.000000% 0.000000% 0.000000% 3.~~749258~~480882% 60 Days 1.~~625747~~760442% 0.000000% 0.000000% 0.000000% 1.~~625747~~760442% 1.~~765042~~861733% 0.000000% 0.000000% 0.000000% 1.~~765042~~861733% 90 Days 10.~~061712~~828443% 0.000000% 0.000000% 0.000000% 10.~~061712~~828443% 0.~~978505~~909098% 0.000000% 0.000000% 0.000000% 0.~~978505~~909098% 120 Days 0.~~663570~~828443% 0.000000% 0.000000% 0.000000% 0.~~663570~~828443% 0.~~457057~~786490% 0.000000% 0.000000% 0.000000% 0.~~457057~~786490% 150 Days 0.~~796284~~345185% 0.~~000000~~103555% 0.~~033179~~241629% 0.000000% 0.~~829463~~690369% 0.~~835001~~102714% 0.~~000000~~057863% 0.~~045001~~316246% 0.000000% 0.~~880002~~476824% 180 Days 0.~~066357~~276148% 0.~~000000~~103555% 0.~~165893~~586814% 0.000000% 0.~~232250~~966517% 0.~~048313~~180587% 0.~~000000~~117119% 0.~~132488~~665304% 0.000000% 0.~~180801~~963011% Totals 7.~~631055~~386952% 0.~~000000~~207111% 0.~~199071~~828443% 0.000000% 78.~~830126~~422506% 7.~~833176~~321505% 0.~~000000~~174983% 0.~~177489~~981550% 0.000000% 8.~~010665~~478037% 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 108 0 0 0 108 1980,~~723,419~~259.9759 0.00 0.00 0.00 1980,~~723,419~~259.9759 60 Days 54 0 0 0 54 ~~789~~572,~~899~~231.6349 0.00 0.00 0.00 ~~789~~572,~~899~~231.6349 90 Days 4 0 0 0 4 ~~915~~889,~~305~~564.9084 0.00 0.00 0.00 ~~915~~889,~~305~~564.9084 120 Days 42 0 0 0 42 ~~876~~449,~~804~~532.0363 0.00 0.00 0.00 ~~876~~449,~~804~~532.0363 150 Days 31 0 02 0 3 ~~155~~59,~~383~~570.6013 0.00 0428,384.0006 0.00 ~~155~~487,~~383~~954.6019 180 Days 2 0 0 1 0 12 78,125.26 0.00 0.00 ~~398,832.39~~ 0.00 ~~398~~78,~~832~~125.3926 Totals 2621 0 12 0 2723 43,~~460~~029,~~813~~283.1394 0.00 ~~398~~428,~~832~~384.3906 0.00 43,~~859~~457,~~645~~668.5200 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 32.~~012048~~523659% 0.000000% 0.000000% 0.000000% 32.~~012048~~523659% 21.~~396583~~421181% 0.000000% 0.000000% 0.000000% 21.~~396583~~421181% 60 Days 1.~~506024~~261830% 0.000000% 0.000000% 0.000000% 1.~~506024~~261830% 10.~~098432~~829621% 0.000000% 0.000000% 0.000000% 10.~~098432~~829621% 90 Days 1.~~204819~~261830% 0.000000% 0.000000% 0.000000% 1.~~204819~~261830% 1.~~272822~~289691% 0.000000% 0.000000% 0.000000% 1.~~272822~~289691% 120 Days 10.~~204819~~630915% 0.000000% 0.000000% 0.000000% 10.~~204819~~630915% 10.~~219281~~651732% 0.000000% 0.000000% 0.000000% 10.~~219281~~651732% 150 Days 0.~~903614~~315457% 0.000000% 0.~~000000~~630915% 0.000000% 0.~~903614~~946372% 0.~~216076~~086365% 0.000000% 0.~~000000~~621071% 0.000000% 0.~~216076~~707436% 180 Days 0.~~000000~~630915% 0.000000% 0.~~301205~~000000% 0.000000% 0.~~301205~~630915% 0.~~000000~~113266% 0.000000% 0.~~554615~~000000% 0.000000% 0.~~554615~~113266% Totals 76.~~831325~~624606% 0.000000% 0.~~301205~~630915% 0.000000% 87.~~132530~~255521% 64.~~203195~~391856% 0.000000% 0.~~554615~~621071% 0.000000% 65.~~757810~~012928%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~246~~238,~~069~~867.8000

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 8.~~241231~~231837% Weighted Average Net Coupon 7.~~741231~~731838% Weighted Average Pass-Through Rate 7.~~718732~~709338% Weighted Average Maturity(Stepdown Calculation ) ~~335~~334 Beginning Scheduled Collateral Loan Count 3,~~463~~346 Number Of Loans Paid In Full ~~117~~132 Ending Scheduled Collateral Loan Count 3,~~346~~214 Beginning Scheduled Collateral Balance ~~414~~399,~~490~~100,~~977~~222.2705 Ending Scheduled Collateral Balance ~~399~~382,~~100~~603,~~222~~500.0589 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2003 ~~399~~383,~~527~~010,~~786~~164.1710 Monthly P &I Constant 3,~~221~~101,~~002~~427.4365 Special Servicing Fee 0.00 Prepayment Penalties ~~471~~476,~~290~~786.5150 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~399~~382,~~100~~603,~~222~~500.0589 Scheduled Principal ~~373~~363,~~292~~307.3712 Unscheduled Principal 1516,~~017~~133,~~462~~414.8504 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

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Coupon Rate 8.~~241231~~231837% Weighted Average Net Rate 7.~~741231~~731838% Weighted Average Pass Through Rate 7.~~718732~~709338% Weighted Average Maturity ~~335~~334 Record Date 0910/3031/2003 Principal and Interest Constant 3,~~221~~101,~~002~~427.4365 Beginning Loan Count 3,~~463~~346 Loans Paid in Full ~~117~~132 Ending Loan Count 3,~~346~~214 Beginning Scheduled Balance ~~414~~399,~~490~~100,~~977~~222.2705 Ending Scheduled Balance ~~399~~382,~~100~~603,~~222~~500.0589 Ending Actual Balance at 3031-~~Sep~~Oct-2003 ~~399~~383,~~527~~010,~~786~~164.1710 Scheduled Principal ~~373~~363,~~292~~307.3712 Unscheduled Principal 1516,~~017~~133,~~462~~414.8504 Scheduled Interest 2,~~846~~737,~~596~~773.5127 Servicing Fee ~~172~~166,~~704~~291.5775 Master Servicing Fee 7,~~771~~483.7114 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,~~667~~564,~~233~~345.7864 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.000000 Special Servicing Fee 0.00 Prepayment Penalties ~~471~~476,~~290~~786.5150 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: 2223.~~2042~~1616%

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.~~350421~~341013 7.~~741283~~743446 8.~~241231~~231837 Weighted Average Net Rate 7.~~850421~~841014 7.~~241283~~234462 7.~~741231~~731838 Weighted Average Maturity ~~332~~331 ~~337~~336 ~~335~~334 Beginning Loan Count 3,~~119~~014 ~~344~~332 3,~~463~~346 Loans Paid In Full ~~105~~117 1215 ~~117~~132 Ending Loan Count 32,~~014~~897 ~~332~~317 3,~~346~~214 Beginning Scheduled Balance ~~340~~327,~~192~~264,~~237~~174.3521 7471,~~298~~836,~~739~~047.9284 ~~414~~399,~~490~~100,~~977~~222.2705 Ending scheduled Balance ~~327~~313,~~264~~694,~~174~~830.2145 7168,~~836~~908,~~047~~670.8444 ~~399~~382,~~100~~603,~~222~~500.0589 Record Date 0910/3031/2003 0910/3031/2003 0910/3031/2003 Principal And Interest Constant 2,~~672~~571,~~907~~284.7627 ~~548~~530,~~094~~143.6738 3,~~221~~101,~~002~~427.4365 Scheduled Principal ~~304~~296,~~939~~521.7794 6866,~~352~~785.6018 ~~373~~363,~~292~~307.3712 Unscheduled Principal 1213,~~623~~272,~~123~~821.3782 2,~~394~~860,~~339~~592.4822 1516,~~017~~133,~~462~~414.8504 Scheduled Interest 2,~~367~~274,~~290~~762.1933 ~~479~~463,~~306~~010.3294 2,~~846~~737,~~596~~773.5127 Servicing Fees ~~141~~136,~~746~~360.7606 3029,~~957~~931.8169 ~~172~~166,~~704~~291.5775 Master Servicing Fees 6,~~378~~136.6020 1,~~393~~346.1194 7,~~771~~483.7114 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,~~219~~132,~~842~~266.6307 ~~447~~432,~~391~~079.1557 2,~~667~~564,~~233~~345.7864 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.000000 0.000000 0.000000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.~~827922~~818514 7.~~218783~~211962 7.~~718732~~709338

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