8-K 1 thb03002_oct.txt OCTOBER 8K 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 Pass-Through Certificates, Series 2003-2 Trust (Exact name of registrant as specified in its charter) Delaware (governing law of 333-56240-12 54-2120412 Pooling and Servicing Agreement) (Commission 54-2120413 (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 THORNBURG MORTGAGE SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2003-2 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 2003-2 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 Pass-Through Certificates, Series 2003-2 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: 11/3/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-2 Trust, relating to the October 27, 2003 distribution. EX-99.1

~~Wells~~Thornburg ~~Fargo~~Mortgage ~~Asset~~Home ~~Securities~~Loans, ~~Corporation~~Inc. Mortgage Pass-Through Certificates Record Date: 9/30/03 Distribution Date: 10/27/03 ~~WFMBS~~THB Series: 2003-2 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~~-PO~~ ~~94980JAT2~~885220DC4 POSEN ~~0.00000% 3,315.05 0.00 20.67 A-~~1 ~~94980JAA3 SEQ 5~~.~~25000~~46000% 9823,~~166~~566,~~252~~957.9748 ~~40,080.51~~ 1,~~822~~068,~~210~~806.~~45 A-2 94980JAB1 SEQ 5.25000% 47,982,457.52 209,808.~~89 430,~~041~~727,~~207~~711.2258 AM-31 ~~94980JAC9~~885220DD2 ~~SEQ~~SUB 51.~~25000~~87000% 2910,~~451~~608,~~000~~900.00 ~~128~~17,~~777~~634.9335 0.00 AM-42 ~~94980JAD7~~885220DE0 ~~SEQ~~SUB 52.~~25000~~62000% 3310,~~410~~608,~~000~~900.00 ~~146~~24,~~089~~706.1295 0.00 AB-5IO ~~94980JAE5~~885220DH3 ~~SEQ~~SEN ~~3.43000% 68,325,960.38 195,191.98 6,313,019.91 A-6 94980JAF2 SEQ 5.25000% 43,686,000.00 191,022.13~~ 0.~~00 A-7 94980JAG0 SEQ 5.25000~~00000% ~~17,200,000~~69.0076 ~~75,209.01 0.00 A-8 94980JAH8 SEQ 4.25000% 19,802,992.89 70,097.39~~ 1,~~474~~597,~~219~~473.3269 ~~A-9 94980JAJ4 SEQ 4.12000% 64,998,967.49 223,041.55 4,838,800.59 A-10 94980JAK1 SEQ 5.25000% 44,410,000.00 194,187.90~~ 0.00 AR-111 ~~94980JAL9~~885220DF7 ~~SEQ~~SEN ~~5.25000%~~ 0.~~00 181,238.77 0.00 A-12 94980JAM7 SEQ 5.25000~~00000% 0.00 0.00 0.00 AR-132 ~~94980JAN5~~885220DG5 ~~SEQ~~SEN ~~5.25000%~~ 0.~~00 0.00 0.00 A-14 94980JAP0 SEQ 5.25000~~00000% 0.00 0.00 0.00 ~~A-15~~Totals 94980JAQ8 SEQ 5.25000% 0.00 0.00 0.00 A-16 94980JAR6 SEQ 5.25000% 0.00 0.00 0.00 A-17 94980JAS4 SEQ 5.25000% 0.00 0.00 0.00 A-R 94980JAU9 RES 5.25000% 0.00 0.00 0.00 A-LR 94980JAV7 RES 5.25000% 0.00 0.00 0.00 B-1 94980JAW5 SUB 5.25000% 4844,~~787~~784,~~022~~827.2524 ~~20,931.81 17,684.81 B-~~2 ~~94980JAX3 SUB 5.25000% 1~~,~~366~~708,~~883~~621.7788 530,~~976.86 5~~727,~~049~~711.71 B-3 94980JAY1 SUB 5.25000% 1,026,139.18 4,486.91 3,790.89 B-4 94980JAZ8 SUB 5.25000% 683,441.89 2,988.43 2,524.86 B-5 94980JBA2 SUB 5.25000% 342,697.29 1,498.48 1,266.03 B-6 94980JBB0 SUB 5.25000% 683,956.48 2,990.68 2,526.76 Totals 387,327,087.16 1,693,618.35 18,522,321.2258

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A~~-PO~~ 0.00 3792,~~294.38 20.67 0.00 A-1 0.00 7~~839,~~344,042~~245.5290 131,~~862~~796,~~290~~518.~~96 0.00 A-2 0.00 43,941,250.29 4,251,016.11 0.00 A-3 0.00 29,451,000.00 128,777.93 0.00 A-4 0.00 33,410,000.00 146,089.12 0.00 A-5 0.00 62,012,940.~~47 ~~6,508,211.89~~ 0.00 AM-61 0.00 4310,~~686~~608,~~000~~900.00 ~~191,022.13 0.00 A-7 0.00~~ 17,~~200,000~~634.0035 ~~75,209.01~~ 0.00 AM-82 0.00 ~~18,328,773.57 1,544,316.71 0.00 A-9 0.00 60,160,166.90 5,061,842.14 0.00 A-~~10 ~~0.00 44~~,~~410~~608,~~000~~900.00 ~~194~~24,~~187~~706.9095 0.00 AB-11IO 0.00 069.0076 181,238.77 0.00 A-12 0.00 0.00 0.00 0.00 A-13 0.00 0.00 0.00 0.00 A-14 0.00 0.00 0.00 0.00 A-15 0.00 0.00 0.00 0.00 A-16 0.00 0.00 0.00 0.00 A-17 0.00 0.00 0.00 0.00 A-R 0.00 0.00 0.00 0.00 A-LR 0.00 0.00 0.00 0.00 B-1 ~~0.00 4~~,~~769~~597,~~337~~473.4469 ~~38,616.62~~ 0.00 BR-~~2 0.00~~ 1~~,361,834.06~~ ~~11,026.57~~ 0.00 ~~B-3~~ 0.00 ~~1,022,348.29 8,277.80~~ 0.00 ~~B-4~~ 0.00 ~~680,917.03 5,513.29 0.00 B~~R-52 0.00 ~~341,431.25 2,764.51~~ 0.00 ~~B-6~~ 0.00 ~~681,429.73 5,517.44~~ 0.00 Totals 0.00 ~~368~~814,~~804~~057,~~765~~115.9366 2033,~~215~~436,~~939~~333.5746 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~~-PO~~ ~~5,036.19 3,315.05 13.05 7.62 0.00 0.00 A-~~1 40,~~000~~039,~~000~~673,900.00 9823,~~166~~566,~~252~~957.9748 ~~137,784.05 1,684,426.40~~ 0.00 ~~0.00 A-2 116~~30,~~364~~727,~~000~~711.~~00 47,982,457.52 305,570.~~58 ~~3,735,636.65~~ 0.00 0.00 AM-3 29,451,000.00 29,451,000.00 0.00 0.00 0.00 0.00 A-4 33,410,000.00 33,410,000.00 0.00 0.00 0.00 0.00 A-5 90,581,000.00 68,325,960.38 477,350.71 5,835,669.20 0.00 0.00 A-6 43,686,000.00 43,686,000.00 0.00 0.00 0.00 0.00 A-7 17,200,000.00 17,200,000.00 0.00 0.00 0.00 0.00 A-8 25,000,000.00 19,802,992.89 111,471.16 1~~,362,748.16~~ ~~0.00 0.00 A-9 82~~10,~~057~~608,~~000~~900.00 ~~64,998,967.49 365,879.55 4,472,921.04 0.00 0.00 A-~~10 44,~~410~~608,~~000~~900.00 ~~44,410,000.00~~ 0.00 0.00 0.00 0.00 AM-112 ~~0.00 0.00 0.00 0.00 0.00 0.00 A-12 50~~10,~~000~~608,~~000~~900.00 ~~0.00 0.00 0.00 0.00 0.00 A-13 15~~10,~~000~~608,~~000~~900.00 0.00 0.00 0.00 0.00 ~~0.00 A~~B-14IO ~~33,285,000~~69.0076 069.0076 0.00 0.00 0.00 0.00 AR-~~15 25,000,000.00 0.00 0.00 0.00 0.00 0.00 A-16 45,850,000.00 0.00 0.00 0.00 0.00 0.00 A-17~~ 1~~,000.00~~ ~~0.00 0.00 0.00 0.00 0.00 A-R~~ 50.00 0.00 0.00 0.00 0.00 0.00 AR-LR2 50.00 0.00 0.00 0.00 0.00 0.00 ~~B-1~~Totals ~~4,903,000.00 4,787,022.25 17,684.81 0.00 0.00 0.00 B-2~~ 1,~~400~~060,~~000.00 1~~891,~~366,883~~869.7776 5844,~~049.71 0.00 0.00 0.00 B-3 1~~784,~~051,000~~827.0024 ~~1,026,139.18 3,790.89~~ 0.00 ~~0.00 0.00 B-4 700~~30,~~000.00 683~~727,~~441~~711.8958 ~~2,524.86~~ 0.00 0.00 ~~0.00 B-5 351,000.00 342,697.29 1,266.03 0.00 0.00 0.00 B-6 700,527.06 683,956.48 2,526.76 0.00 0.00 0.00 Totals 700,405,663.25 387,327,087.16 1,430,912.16 17,091,409.07 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~~-PO~~ ~~20.67 3~~30,~~294.38 0.65414133 20.67 A-1 1~~727,~~822,210~~711.4558 7792,~~344~~839,~~042~~245.5290 0.~~18360106~~76258454 130,~~822~~727,~~210~~711.4558 AM-~~2 4,041,207.22 43,941,250.29 0.37761894 4,041,207.22 A-3 0.00 29,451,000.00~~ 1~~.00000000~~ 0.00 ~~A-4 0.00 33~~10,~~410~~608,~~000~~900.00 1.00000000 0.00 AM-52 ~~6,313,019.91 62,012,940.47~~ 0.~~68461311 6,313,019.91 A-6 0.~~00 4310,~~686~~608,~~000~~900.00 1.00000000 0.00 AB-7IO 0.00 ~~17,200,000~~69.0076 1.00000000 0.00 AR-8 1~~,474,219.32~~ ~~18,328,773.57~~ 0.~~73315094 1,474,219.32 A-9 4,838,800.59 60,160,166.90 0.73315094 4,838,800.59 A-10 0.~~00 ~~44,410,000.00 1.00000000~~ 0.00 ~~A-11~~ 0.~~00 0.00 0.~~00000000 0.00 ~~A-12 0.00 0.00 0.00000000 0.00 A-13 0.00 0.00 0.00000000 0.00 A-14 0.00 0.00 0.00000000 0.00 A-15 0.00 0.00 0.00000000 0.00 A-16 0.00 0.00 0.00000000 0.00 A-17 0.00 0.00 0.00000000 0.00 A-~~R ~~0.00 0.00 0.00000000 0.00 A~~-LR2 0.00 0.00 0.00000000 0.00 B-1 17,684.81 4,769,337.44 0.97273862 17,684.81 B-2 5,049.71 1,361,834.06 0.97273861 5,049.71 B-3 3,790.89 1,022,348.29 0.97273862 3,790.89 B-4 2,524.86 680,917.03 0.97273861 2,524.86 B-5 1,266.03 341,431.25 0.97273860 1,266.03 B-6 2,526.76 681,429.73 0.97273863 2,526.76 Totals 1830,~~522~~727,~~321~~711.2258 ~~368~~814,~~804~~057,~~765~~115.9366 0.~~52655880~~76733279 1830,~~522~~727,~~321~~711.2258

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A~~-PO~~ ~~5,036.19 658.24561822 2.59124457~~ 1~~.51304855 0.00000000 A-1 40~~,~~000~~039,~~000.00 229.15632425 3.44460125 42.11066000 0.00000000 A-2 116~~673,~~364,000~~900.00 ~~412~~19803.~~34795573~~49216903 ~~2.62598897 32.10302714~~ 0.00000000 ~~A-3 29,451,000~~738.0087859405 ~~1000.00000000~~ 0.00000000 ~~0.00000000 0.00000000 A~~M-41 3310,~~410~~608,~~000~~900.00 ~~1000~~25000.00000000 0.00000000 0.00000000 0.00000000 AM-52 90,581,000.00 754.30786125 5.26987680 64.42487056 0.00000000 A-6 43,686,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-7 17,200,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-8 25,000,000.00 792.11971560 4.45884640 54.50992640 0.00000000 A-9 82,057,000.00 792.11971544 4.45884629 54.50992651 0.00000000 A-10 44,~~410~~608,~~000~~900.00 ~~1000~~25000.00000000 0.00000000 0.00000000 0.00000000 AB-11IO 069.0076 010000000.00000000 0.00000000 0.00000000 0.00000000 AR-121 50~~,000,000~~.00 0.00000000 0.00000000 0.00000000 0.00000000 AR-132 ~~15,000,000~~50.00 0.00000000 0.00000000 0.00000000 0.00000000 ~~A-14~~(2) ~~33,285,000.00~~Classes ~~0.00000000 0.00000000 0.00000000 0.00000000~~ A~~-15 25~~,~~000,000.00~~ ~~0.00000000 0.00000000 0.00000000 0.00000000 A~~M-~~16 45,850,000.00 0.00000000 0.00000000 0.00000000 0.00000000 A-17~~ 1,~~000.00~~ ~~0.00000000 0.00000000 0.00000000 0.00000000 A~~M-R2 ~~50.00~~are ~~0.00000000~~per ~~0.00000000 0.00000000 0.00000000 A-LR 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4~~$25,~~903,~~000~~.00~~ ~~976~~Denomination.~~34555374~~ ~~3.60693657~~Class ~~0.00000000 0.00000000~~ B-2IO ~~1,400,000.00~~are ~~976.34555000~~per ~~3.60693571 0.00000000 0.00000000 B-3 1~~$10,~~051,~~000~~.00 976.34555661 3.60693625 0.00000000 0.00000000 B-4 700~~,000~~.00~~ ~~976~~Denomination.~~34555714~~ ~~3.60694286~~Classes ~~0.00000000 0.00000000 B~~R-~~5 351~~1,~~000.00~~ ~~976.34555556 3.60692308 0.00000000 0.00000000 B~~R-~~6 700,527.06 976.34555330 3.60694132 0.00000000 0.00000000 (~~2) are per $~~1000~~50.00 ~~denomination~~Denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A~~-PO~~ 0.00000000 4738.~~10429313~~87859405 ~~654~~19,064.~~14132509~~61357499 0.~~65414133~~76258454 4738.~~10429313~~87859405 AM-1 0.00000000 ~~45.55526125 183.60106300~~ 0.~~18360106 45.55526125 A-2 0.~~00000000 ~~34.72901602 377.61893962 0.37761894 34.72901602 A-3 0.00000000 0.00000000 1~~25,000.00000000 1.00000000 0.00000000 AM-42 0.00000000 0.00000000 125,000.00000000 1.00000000 0.00000000 AB-5IO 0.00000000 ~~69.69474735 684.61311390~~ 0.~~68461311 69.69474735 A-6 0.~~00000000 ~~0.00000000 1~~10,000~~.00000000 1.00000000 0.00000000 A-7 0.00000000 0.00000000 1~~,000.00000000 1.00000000 0.00000000 AR-~~8 0.00000000 58.96877280 733.15094280 0.73315094 58.96877280 A-9 0.00000000 58.96877280 733.15094264 0.73315094 58.96877280 A-10 0.00000000 0.00000000~~ 1~~,000.00000000~~ ~~1.00000000~~ 0.00000000 ~~A-11~~ 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-12 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-13 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-14 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-15 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-16 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-17 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R ~~0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A~~-~~LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 3.60693657 972.73861717 0.97273862 3.60693657 B-~~2 0.00000000 ~~3.60693571 972.73861429~~ 0.~~97273861 3.60693571 B-3 0.~~00000000 ~~3.60693625 972.73862036~~ 0.~~97273862 3.60693625 B-4 0.~~00000000 ~~3.60694286 972.73861429~~ 0.~~97273861 3.60694286 B-5 0.~~00000000 ~~3.60692308 972.73860399~~ 0.~~97273860 3.60692308 B-6 0.~~00000000 ~~3.60694132 972.73862626 0.97273863 3.60694132~~ (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~~-PO~~ ~~5,036.19 0.00000% 3,315.05 0.00 0.00 0.00 A-~~1 40,~~000~~039,~~000.00 5.25000% 9~~673,~~166,252~~900.~~97 40,102.36 0.~~00 01.~~00 A-2 116,364,000.00 5.25000~~46000% 47823,~~982~~566,~~457~~957.5248 ~~209~~1,~~923.25 0.00 0.00 A-3 29~~068,~~451,000~~806.~~00 5.25000% 29,451,000.00 128,848.13 0.00 0.00 A-4 33,410,000.00 5.25000% 33,410,000.00 146,168.75 0.00 0.00 A-5~~ 90~~,581,000.00~~ ~~3.43000% 68,325,960.38 195,298.37~~ 0.00 0.00 AM-61 4310,~~686~~608,~~000~~900.00 51.~~25000~~87000% 4310,~~686~~608,~~000~~900.00 ~~191,126.25 0.00 0.00 A-7~~ 17,~~200,000~~634.0035 ~~5.25000% 17,200,000.00 75,250.00~~ 0.00 0.00 AM-82 2510,~~000~~608,~~000~~900.00 42.~~25000~~62000% ~~19,802,992.89 70,135.60 0.00 0.00 A-9 82,057,000.00 4.12000% 64,998,967.49 223,163.12 0.00 0.00 A-~~10 44,~~410~~608,~~000~~900.00 ~~5.25000% 44~~24,~~410,000~~706.0095 ~~194,293.75~~ 0.00 0.00 AB-11IO 069.0076 ~~5.25000% 41,448,585.53 181,337.56~~ 0.~~00 0.00 A-12 50,000,000.00 5.25000~~00000% 069.0076 0.00 0.00 0.00 AR-~~13 15,000,000.00 5.25000% 0.00 0.00 0.00 0.00 A-14 33,285,000.00 5.25000% 0.00 0.00 0.00 0.00 A-15 25,000,000.00 5.25000% 0.00 0.00 0.00 0.00 A-16 45,850,000.00 5.25000% 0.00 0.00 0.00 0.00 A-17~~ 1~~,000.00~~ ~~5.25000% 0.00 0.00 0.00 0.00 A-R~~ 50.00 ~~5.25000%~~ 0.~~00 0.00 0.00 0.00 A-LR 50.00 5.25000~~00000% 0.00 0.00 0.00 0.00 BR-~~1 4,903,000.00 5.25000% 4,787,022.25 20,943.22 0.00 0.00 B-~~2 ~~1,400,000~~50.00 ~~5.25000% 1,366,883.77 5,980.12~~ 0.~~00 0.00 B-3 1,051,000.00 5.25000~~00000% ~~1,026,139.18 4,489.36~~ 0.00 0.00 ~~B-4 700,000.00 5.25000% 683,441.89 2,990.06~~ 0.00 0.00 ~~B-5~~Totals ~~351,000.00 5.25000% 342,697.29~~ 1,~~499.30 0.00 0.00 B-6 700~~060,~~527.06 5.25000% 683~~891,~~956~~869.4876 ~~2,992.31 0.00 0.00 Totals 700,405,663.25~~ 1,~~694~~111,~~541~~148.5120 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~~-PO~~ 0.0001 0.00 ~~0.00 0.00 3,294.38 A-~~1 ~~21.85 0.00 40~~,~~080.51 0.00 7~~068,~~344,042~~806.~~52 A-2 114.36 0.00 209,808.~~89 0.00 43792,~~941~~839,~~250~~245.2990 AM-31 ~~70.19~~ 0.00 ~~128,777.93~~ 0.00 2917,~~451,000~~634.0035 ~~A-4 79.63~~ 0.00 ~~146~~10,~~089.12 0.00 33~~608,~~410,000~~900.00 AM-52 ~~106.39~~ 0.00 ~~195,191.98~~ 0.00 6224,~~012,940~~706.4795 ~~A-6 104.12~~ 0.00 ~~191,022.13 0.00 43,686,000.00 A-7 40.99 0.00 75,209.01 0.00 17,200,000.00 A-8 38.21 0.00 70,097.39 0.00 18,328,773.57 A-9 121.57 0.00 223,041.55 0.00 60,160,166.90 A-~~10 ~~105.85 0.00 194~~,~~187.90 0.00 44~~608,~~410,000~~900.00 AB-11IO ~~98.79~~ 0.00 ~~181,238.77~~ 0.00 371,~~937~~597,~~774~~473.0669 ~~A-12~~ 0.00 069.0076 ~~0.00 0.00 0.00 A~~R-131 0.00 0.00 0.00 0.00 0.00 ~~A-14 0.00 0.00 0.00 0.00 0.00 A-15 0.00 0.00 0.00 0.00 0.00 A-16 0.00 0.00 0.00 0.00 0.00 A-17 0.00 0.00 0.00 0.00 0.00 A-~~R ~~0.00 0.00 0.00 0.00 0.00 A~~-~~LR 0.00 0.00 0.00 0.00 0.00 B-1 11.41 0.00 20,931.81 0.00 4,769,337.44 B-~~2 ~~3.26~~ 0.00 ~~5,976.86~~ 0.00 ~~1,361,834.06 B-3 2.45~~ 0.00 ~~4,486.91~~ 0.00 ~~1,022,348.29 B-4 1.63~~ 0.00 ~~2,988.43~~Totals 0.0001 ~~680,917.03 B-5~~ 0.~~82 0.~~00 ~~1,498.48 0.00 341,431.25 B-6 1.63 0.00~~ 2,~~990.68 0.00 681~~708,~~429~~621.7388 ~~Totals 923.15~~ 0.00 ~~1,693,618.35 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~~-PO~~ ~~5,036.19 0.00000% 658.24561822 0.00000000 0.00000000 0.00000000 A-~~1 40,~~000~~039,~~000.00 5.25000% 229.15632425 1.00255900 0.00000000 0.00000000 A-2 116~~673,~~364,000~~900.00 ~~5.25000% 412.34795573~~ 1.~~80402229 0.00000000 0.00000000 A-3 29,451,000.00 5.25000~~46000% ~~1000~~19803.~~00000000~~49216903 425.~~37500017~~70053216 0.00000000 0.00000000 AM-41 3310,~~410~~608,~~000~~900.00 51.~~25000~~87000% ~~1000~~25000.00000000 441.~~37500000~~55555713 0.00000000 0.00000000 AM-52 9010,~~581~~608,~~000~~900.00 ~~3.43000% 754.30786125~~ 2.~~15606330 0.00000000 0.00000000 A-6 43,686,000.00 5.25000~~62000% ~~1000.00000000 4.37500000 0.00000000 0.00000000 A-7 17,200,000.00 5.~~25000~~% 1000~~.00000000 458.~~37500000~~22222379 0.00000000 0.00000000 AB-8IO ~~25,000,000~~69.0076 ~~4.25000% 792.11971560 2.80542400~~ 0.~~00000000 0.00000000 A-9 82,057,000.00 4.12000~~00000% ~~792~~10000000.~~11971544 2.71961100 0.~~00000000 0.00000000 ~~A-10 44,410,000.00 5.25000% 1000.00000000 4.37500000~~ 0.00000000 0.00000000 AR-111 050.00 ~~5.25000% 770.06038929 3.36901417~~ 0.~~00000000 0.00000000 A-12 50,000,000.00 5.25000~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 AR-132 ~~15,000,000~~50.00 ~~5.25000%~~ 0.~~00000000 0.00000000 0.00000000 0.00000000 A-14 33,285,000.00 5.25000~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 ~~A-15 25,000,000.00~~ (5~~.25000%~~) ~~0.00000000~~Classes ~~0.00000000 0.00000000 0.00000000~~ A~~-16 45~~,~~850,000.00~~ ~~5.25000% 0.00000000 0.00000000 0.00000000 0.00000000 A~~M-17 1,~~000.00~~ ~~5.25000% 0.00000000 0.00000000 0.00000000 0.00000000 A~~M-R2 ~~50.00~~are ~~5.25000%~~per ~~0.00000000 0.00000000 0.00000000 0.00000000 A-LR 50.00 5.25000% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4~~$25,~~903,~~000~~.00~~ 5Denomination.~~25000%~~ ~~976.34555374~~Class ~~4.27151132 0.00000000 0.00000000~~ B-2IO ~~1,400,000.00~~are ~~5.25000%~~per ~~976.34555000 4.27151429 0.00000000 0.00000000 B-3 1~~$10,~~051,~~000~~.00 5.25000% 976.34555661 4.27151284 0.00000000 0.00000000 B-4 700~~,000~~.00~~ 5Denomination.~~25000%~~ ~~976.34555714~~Classes ~~4.27151429 0.00000000 0.00000000 B~~R-~~5 351~~1,~~000.00~~ ~~5.25000% 976.34555556 4.27150997 0.00000000 0.00000000 B~~R-62 ~~700,527.06 5.25000% 976.34555330 4.27151237 0.00000000 0.00000000 (5) All classes~~ are per $~~1000 denomination~~50.00 Den

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~~-PO~~ 0.~~00000000~~00000024 0.00000000 025.~~00000000~~70053192 0.00000000 ~~654~~19064.~~14132509~~61357499 AM-1 0.~~00054625 0.~~00000000 ~~1.00201275~~ 0.00000000 ~~183~~41.~~60106300~~55555713 ~~A-2~~ 0.~~00098278 0.~~00000000 125000.~~80303951 0.~~00000000 ~~377.61893962 A~~M-~~3 0.00238328 0.00000000 4.37261655 0.00000000 1000.00000000 A-4 0.00238342 0.00000000 4.37261658 0.00000000 1000.00000000 A-5 0.00117453 0.00000000~~ 2~~.15488877~~ 0.00000000 ~~684.61311390 A-6~~ 0.~~00238337 0.~~00000000 458.~~37261663~~22222379 0.00000000 ~~1000~~25000.00000000 AB-7IO 0.~~00238314 0.~~00000000 ~~4.37261686~~ 0.00000000 ~~1000~~995655103.~~00000000~~21100000 ~~A-8~~ 0.~~00152840 0.~~00000000 210000000.~~80389560 0.~~00000000 ~~733.15094280 A~~R-91 0.~~00148153 0.~~00000000 ~~2.71812947~~ 0.00000000 ~~733.15094264 A-10~~ 0.~~00238347 0.~~00000000 ~~4.37261653~~ 0.00000000 ~~1000.00000000 A-11~~ 0.~~00183539 0.~~00000000 3.36717878 0.00000000 704.83411407 A-12 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-13 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-14 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-15 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-16 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-17 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-R ~~0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A~~-~~LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00232715 0.00000000 4.26918417 0.00000000 972.73861717 B-~~2 0.~~00232857 0.~~00000000 ~~4.26918571~~ 0.00000000 ~~972.73861429 B-3~~ 0.~~00233111 0.~~00000000 ~~4.26918173~~ 0.00000000 ~~972.73862036 B-4~~ 0.~~00232857 0.~~00000000 ~~4.26918571 0.00000000 972.73861429 B-5 0.00233618 0.00000000 4.26917379 0.00000000 972.73860399 B-6 0.00232682 0.00000000 4.26918555 0.00000000 972.73862626~~ (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 ~~134,850~~0.4500 Deposits Payments of Interest and Principal 2033,~~323~~674,~~487~~970.3884 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 019,037.0005 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2033,~~323~~694,~~487~~007.3889 Withdrawals Reimbursement for Servicer Advances 026,490.0071 Payment of Service Fee 70231,~~715~~183.9172 Payment of Interest and Principal 2033,~~215~~436,~~939~~333.5746 Total Withdrawals (Pool Distribution Amount) 2033,~~286~~694,~~655~~007.4889 Ending Balance ~~171,682~~0.3600

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~14,081~~0.9900 Servicing Fee Support ~~13,158~~0.8400 Non-Supported Prepayment/Curtailment Interest Shortfall ~~923~~0.1500

SERVICING FEES Gross Servicing Fee 80214,~~648~~864.8076 External Master Servicing Fee- Washington Mutual 3,~~225~~501.9543 Master Servicing Fee- Wells Fargo 12,358.50 Trustee Fee - Deutsche Bank 459.03 Supported Prepayment/Curtailment Interest Shortfall ~~13,158~~0.8400 Net Servicing Fee 70231,~~715~~183.9172

~~LOAN~~OTHER ~~STATUS~~ACCOUNTS ~~STRATIFICATION/CREDIT~~Beginning ~~ENHANCEMENT~~Current ~~STATEMENT~~Current ~~DELINQUENCY~~Ending ~~STATUS~~Account ~~DELINQUENT~~Type ~~BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal~~ Balance ~~Principal~~Withdrawals ~~Balance~~Deposits ~~Principal~~ Balance ~~Principal~~Reserve ~~Balance~~Fund ~~Principal Balance~~ 0~~-29 Days 0 0 0 0 0~~.00 0.00 0.00 0.00 30Financial ~~Days~~Guaranty 0 ~~0 0 0 0 0~~.00 0.00 0.00 0.00 ~~0.00~~Yield 60Maintence ~~Days~~Reserve 0Fund 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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% 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

~~OTHER~~LOAN ~~INFORMATION~~STATUS ~~Current~~STRATIFICATION/CREDIT ~~Period~~ENHANCEMENT ~~Class~~STATEMENT ADELINQUENCY ~~Insufficient~~STATUS ~~Funds~~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 1 0 0 1 194,902.00 ~~Principal~~0.00 ~~Balance~~0.00 of194,902.00 ~~Contaminated~~30 ~~Properties~~Days 14 0 0 0 14 4,127,148.63 0.00 ~~Periodic~~0.00 ~~Advance~~0.00 4,127,148.63 60 Days 2 0 0 0 2 580,314.56 0.00 0.00 0.00 580,314.56 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 1 0 0 0 1 69,~~417~~696.4519 0.00 0.00 0.00 69,696.19 150 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 17 1 0 0 18 4,777,159.38 194,902.00 0.00 0.00 4,972,061.38 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 0.051626% 0.000000% 0.000000% 0.051626% 0.023858% 0.000000% 0.000000% 0.023858% 30 Days 0.722767% 0.000000% 0.000000% 0.000000% 0.722767% 0.505206% 0.000000% 0.000000% 0.000000% 0.505206% 60 Days 0.103252% 0.000000% 0.000000% 0.000000% 0.103252% 0.071037% 0.000000% 0.000000% 0.000000% 0.071037% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.051626% 0.000000% 0.000000% 0.000000% 0.051626% 0.008532% 0.000000% 0.000000% 0.000000% 0.008532% 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 0.877646% 0.051626% 0.000000% 0.000000% 0.929272% 0.584774% 0.023858% 0.000000% 0.000000% 0.608632%

~~SUBORDINATION~~OTHER ~~LEVEL/CLASS~~INFORMATION ~~PERCENTAGE AND PREPAYMENT PERCENTAGE~~ Current ~~Original~~Period ~~$ Original % Current $ Current %~~ Class% ~~Prepayment% Class~~ A ~~9,105,527.06~~Insufficient ~~1.30003618%~~Funds ~~8,857,297.80 2.40162238% 97.598356% 100.000000% Class B-1 4,202,527.06~~ 0.~~60001329%~~00 ~~4,087,960.36~~Principal ~~1.10843480%~~Balance ~~1.293199%~~of ~~0.000000%~~Contaminated ~~Class~~Properties ~~B-2 2,802,527.06~~ 0.~~40012913%~~00 ~~2,726,126.30~~Periodic ~~0.73917871%~~Advance ~~0.369259% 0.000000% Class B-3 1~~19,~~751,527~~037.06 0.25007323% 1,703,778.01 0.46197288% 0.277208% 0.000000% Class B-4 1,051,527.06 0.15013115% 1,022,860.98 0.27734484% 0.184630% 0.000000% Class B-5 700,527.06 0.10001733% 681,429.73 0.18476706% 0.092579% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.184769% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure05

COLLATERAL STATEMENT Collateral Description ~~Fixed~~Mixed 15ARM ~~Year~~ Weighted Average Gross Coupon 54.~~832286~~168657% Weighted Average Net Coupon 3.853651% Weighted Average Pass-Through Rate 53.~~250000~~835501% Weighted Average Maturity(Stepdown Calculation ) ~~170~~326 Beginning Scheduled Collateral Loan Count ~~881~~2,000 Number Of Loans Paid In Full 3463 Ending Scheduled Collateral Loan Count ~~847~~1,937 Beginning Scheduled Collateral Balance ~~387~~847,~~327~~437,~~087~~056.1566 Ending Scheduled Collateral Balance ~~368~~816,~~804~~709,~~765~~345.9308 Ending Actual Collateral Balance at 30-Sep-2003 ~~369~~816,~~659~~924,~~893~~362.6428 ~~Ending Scheduled Balance For Wells Fargo Serviced 368,356,417.97 Ending Scheduled Balance For Other Servicers 448,347.96~~ Monthly P &I Constant 3,~~273~~208,~~548~~337.7931 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 ~~Class A Optimal Amount 20,145,104.64 Class AP Deferred Amount 0.00~~ Ending Scheduled Balance for Premium Loans ~~367~~816,~~075~~709,~~217~~345.9608 ~~Ending scheduled Balance For discounted Loans 1,729,547.97~~ Scheduled Principal 1268,~~430,912~~531.1575 Unscheduled Principal 1730,~~091~~459,~~409~~179.0783 ~~Unpaid~~Required ~~Principal~~Overcollateralization ~~Balance~~Amount Of0.00 ~~Outstanding~~Overcollateralized ~~Mortgage~~Increase ~~Loans~~Amount ~~With~~0.00 OrOvercollateralized ~~Less~~reduction ~~Than~~Amount Or0.00 ~~Equal~~Specified ToO/C ~~80%~~Amount ~~367~~2,~~010~~652,~~111~~229.3942 ~~Greater~~Overcollateralized ~~Than~~Amount ~~80%~~2,652,229.42 ~~less~~Overcollateralized ~~than~~Deficiency orAmount ~~equal to 85% 1,663,452~~0.7300 ~~Greater~~Base ~~than~~Overcollateralized ~~85%,~~Amount ~~less~~0.00 ~~than~~Extra orprincipal ~~equal~~distribution toAmount ~~95% 51,360~~0.9300 ~~Greater~~Excess ~~than~~Cash ~~95%~~Amount 01,597,473.0069

Filing Compare · STRUCTURED ASSET MORT INV INC THORNBURG MORT SEC TR 2003-2