8-K 1 sai03bc1.txt DECEMBER 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): December 26, 2003 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-BC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-92140-25 06-1683035 Pooling and Servicing Agreement) (Commission 06-1683039 (State or other File Number) 06-1683046 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 December 26, 2003 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2003-BC1 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-BC1 Trust, relating to the December 26, 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. STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-BC1 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: 1/2/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-BC1 Trust, relating to the December 26, 2003 distribution. EX-99.1

Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 SAIL Series: 2003-BC1 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 86358EAA4 SEN 1.~~50000~~49875% ~~453~~405,~~211~~789,~~894~~803.5521 ~~604~~523,~~282~~708.5137 2123,~~748~~243,~~485~~061.2130 A2 86358EAB2 SEN 1.~~46000~~45875% ~~262~~237,~~578~~311,~~763~~246.8425 ~~340~~298,~~768~~097.8853 1110,~~199~~558,~~687~~819.7820 A-IO 86358EAC0 IO 6.00000% 0.00 1,272,~~344~~345.9700 0.00 M1 86358EAD8 MEZ 1.~~92000~~91875% 37,699,000.00 6462,~~339~~288.6343 0.00 M2 86358EAE6 MEZ 2.~~97000~~96875% 28,274,000.00 7472,~~643~~280.3632 0.00 M3 86358EAF3 MEZ 4.~~12000~~11875% 11,781,000.00 4341,~~144~~783.6469 0.00 M4 86358EAG1 MEZ 4.~~12000~~11875% 7,069,000.00 25,~~888~~071.2563 0.00 B 86358EAH9 SEN 7.00000% 2,356,000.00 13,743.33 0.00 X SAI03BC1X SEN 0.00000% 7,069,245.00 21,~~341~~875,~~446~~980.4969 0.00 P SAI03BC1P SEN 0.00000% 100.00 ~~668~~709,~~889~~936.8247 0.00 R1 SAI03B1R1 SEN 0.00000% 0.00 0.00 0.00 R2 SAI03B1R2 SEN 0.00000% 0.00 0.00 0.00 R3 SAI03B1R3 SEN 0.00000% 0.00 0.00 0.00 Totals ~~810~~737,~~039~~349,~~003~~394.3946 54,~~449~~895,~~491~~235.8846 3233,~~948~~801,~~172~~880.9950

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~431~~382,~~463~~546,~~409~~741.3491 2223,~~352~~766,~~767~~769.7267 0.00 A2 0.00 ~~251~~226,~~379~~752,~~076~~427.0605 1110,~~540~~856,~~456~~916.6673 0.00 A-IO 0.00 0.00 1,272,~~344~~345.9700 0.00 M1 0.00 37,699,000.00 6462,~~339~~288.6343 0.00 M2 0.00 28,274,000.00 7472,~~643~~280.3632 0.00 M3 0.00 11,781,000.00 4341,~~144~~783.6469 0.00 M4 0.00 7,069,000.00 25,~~888~~071.2563 0.00 B 0.00 2,356,000.00 13,743.33 0.00 X 0.00 7,069,245.00 21,~~341~~875,~~446~~980.4969 0.00 P 0.00 100.00 ~~668~~709,~~889~~936.8247 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 Totals 0.00 ~~777~~703,~~090~~547,~~830~~513.4096 38,~~397~~697,~~664~~115.8796 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 532,358,000.00 ~~453~~405,~~211~~789,~~894~~803.5521 0.00 2123,~~748~~243,~~485~~061.2130 0.00 0.00 A2 315,873,000.00 ~~262~~237,~~578~~311,~~763~~246.8425 0.00 1110,~~199~~558,~~687~~819.7820 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 X 7,069,245.00 7,069,245.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 855,300,345.00 ~~722~~650,~~860~~170,~~003~~394.3946 0.00 3233,~~948~~801,~~172~~880.9950 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 2123,~~748~~243,~~485~~061.2130 ~~431~~382,~~463~~546,~~409~~741.3491 0.~~81047605~~71858926 2123,~~748~~243,~~485~~061.2130 A2 1110,~~199~~558,~~687~~819.7820 ~~251~~226,~~379~~752,~~076~~427.0605 0.~~79582325~~71785948 1110,~~199~~558,~~687~~819.7820 A-IO 0.00 0.00 0.00000000 0.00 X 0.00 7,069,245.00 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 Totals 3233,~~948~~801,~~172~~880.9950 ~~689~~616,~~911~~368,~~830~~513.4096 0.~~80663107~~72064570 3233,~~948~~801,~~172~~880.9950

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 532,358,000.00 ~~851~~762.~~32917050~~24984542 0.00000000 4043.~~85311991~~66058423 0.00000000 A2 315,873,000.00 ~~831~~751.~~27954539~~28689774 0.00000000 3533.~~45629978~~42741925 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 37,699,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 28,274,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 11,781,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 7,069,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 2,356,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 7,069,245.00 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are Per 1,000 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 4043.~~85311991~~66058423 ~~810~~718.~~47605059~~58926119 0.~~81047605~~71858926 4043.~~85311991~~66058423 A2 0.00000000 3533.~~45629978~~42741925 ~~795~~717.~~82324561~~85947849 0.~~79582325~~71785948 3533.~~45629978~~42741925 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 1.00000000 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 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 532,358,000.00 1.~~50000~~49875% ~~453~~405,~~211~~789,~~894~~803.5521 ~~604~~523,~~282~~708.5337 0.00 0.00 A2 315,873,000.00 1.~~46000~~45875% ~~262~~237,~~578~~311,~~763~~246.8425 ~~340~~298,~~768~~097.8853 0.00 0.00 A-IO 0.00 6.00000% 254,469,000.00 1,272,345.00 0.00 0.00 M1 37,699,000.00 1.~~92000~~91875% 37,699,000.00 6462,~~339~~288.6343 0.00 0.00 M2 28,274,000.00 2.~~97000~~96875% 28,274,000.00 7472,~~643~~280.3632 0.00 0.00 M3 11,781,000.00 4.~~12000~~11875% 11,781,000.00 4341,~~144~~783.6469 0.00 0.00 M4 7,069,000.00 4.~~12000~~11875% 7,069,000.00 25,~~888~~071.2563 0.00 0.00 B 2,356,000.00 7.00000% 2,356,000.00 13,743.33 0.00 0.00 X 7,069,245.00 0.00000% 7,069,245.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2 0.00 0.00000% 0.00 0.00 0.00 0.00 R3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 942,479,345.00 2,~~439~~309,~~155~~318.6230 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 0.0100 0.00 ~~604~~523,~~282~~708.5137 0.00 ~~431~~382,~~463~~546,~~409~~741.3491 A2 0.0100 0.00 ~~340~~298,~~768~~097.8853 0.00 ~~251~~226,~~379~~752,~~076~~427.0605 A-IO 0.0300 0.00 1,272,~~344~~345.9700 0.00 254,469,000.00 M1 0.00 0.00 6462,~~339~~288.6343 0.00 37,699,000.00 M2 0.00 0.00 7472,~~643~~280.3632 0.00 28,274,000.00 M3 0.00 0.00 4341,~~144~~783.6469 0.00 11,781,000.00 M4 0.00 0.00 25,~~888~~071.2563 0.00 7,069,000.00 B 0.00 0.00 13,743.33 0.00 2,356,000.00 X 0.00 0.00 21,~~341~~875,~~446~~980.4969 0.00 7,069,245.00 P 0.00 0.00 ~~668~~709,~~889~~936.8247 0.00 100.00 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 Totals 0.0500 0.00 54,~~449~~895,~~491~~235.8846 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 532,358,000.00 1.~~50000~~49875% ~~851~~762.~~32917050~~24984542 10.~~13510557~~98375223 0.00000000 0.00000000 A2 315,873,000.00 1.~~46000~~45875% ~~831~~751.~~27954539~~28689774 10.~~07881611~~94372590 0.00000000 0.00000000 A-IO 0.00 6.00000% 818.18094130 4.09090471 0.00000000 0.00000000 M1 37,699,000.00 1.~~92000~~91875% 1000.00000000 1.~~70666676~~65225682 0.00000000 0.00000000 M2 28,274,000.00 2.~~97000~~96875% 1000.00000000 2.~~64000000~~55642357 0.00000000 0.00000000 M3 11,781,000.00 4.~~12000~~11875% 1000.00000000 3.~~66222222~~54670147 0.00000000 0.00000000 M4 7,069,000.00 4.~~12000~~11875% 1000.00000000 3.~~66222238~~54670109 0.00000000 0.00000000 B 2,356,000.00 7.00000% 1000.00000000 5.83333192 0.00000000 0.00000000 X 7,069,245.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 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.~~00000002~~00000000 0.00000000 10.~~13510553~~98375223 0.00000000 ~~810~~718.~~47605059~~58926119 A2 0.~~00000003~~00000000 0.00000000 10.~~07881611~~94372590 0.00000000 ~~795~~717.~~82324561~~85947849 A-IO 0.~~00000010~~00000000 0.00000000 4.~~09090461~~09090471 0.00000000 818.18094130 M1 0.00000000 0.00000000 1.~~70666676~~65225682 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.~~64000000~~55642357 0.00000000 1000.00000000 M3 0.00000000 0.00000000 3.~~66222222~~54670147 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.~~66222238~~54670109 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.83333192 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~331~~265.~~21592051~~37214229 0.00000000 1000.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 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 3839,~~845~~257,~~751~~781.0807 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) (96240,~~056~~225.8341) Prepayment Penalties 0.00 Total Deposits 3839,~~749~~017,~~694~~555.2566 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~352~~320,~~029~~439.3870 Payment of Interest and Principal 38,~~397~~697,~~664~~115.8796 Total Withdrawals (Pool Distribution Amount) 3839,~~749~~017,~~694~~555.2566 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~337~~307,~~516~~228.1982 Credit Risk Management Fee 109,~~125~~216.4987 Wells Fargo Bank Minnesota, NA 43,~~387~~994.7001 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~352~~320,~~029~~439.3870

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 23,~~533~~303.5069 23,~~533~~303.5069 1,000.00 Financial Guaranty 0.00 0.00 0.00 0.00

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 128 1 0 139 ~~923~~1,~~586~~218,893.7713 ~~152~~355,~~018~~677.5042 0.00 1,~~075~~574,~~605~~570.2755 30 Days ~~106~~96 0 1 0 097 ~~107 14~~11,~~624~~917,~~870~~452.0947 ~~48,548.59~~ 0.00 156,147.08 0.00 1412,~~673~~073,~~418~~599.6855 60 Days 2256 34 120 0 3760 38,~~568~~053,~~954~~137.8655 ~~367~~841,~~585~~124.8248 ~~2,088,936~~0.5000 0.00 68,~~025~~894,~~477~~262.1803 90 Days 813 5 2923 0 4241 12,~~329~~026,~~442~~281.3900 ~~610~~430,~~236~~045.8105 43,~~063~~412,~~617~~475.5438 0.00 65,~~003~~868,~~296~~801.7443 120 Days 85 32 2720 10 3927 ~~759~~962,~~630~~618.3944 ~~217~~237,~~238~~720.9003 3,~~834~~134,~~427~~393.6050 ~~70,542~~0.2000 4,~~881~~334,~~839~~731.0997 150 Days 53 5 1621 0 2629 ~~506~~406,~~719~~112.6683 ~~624~~383,~~065~~503.9429 13,~~883~~038,~~990~~004.9275 0.00 3,~~014~~827,~~776~~620.5287 180+ Days 1013 719 4257 1121 70110 1,~~099~~461,~~505~~857.7183 12,~~212~~348,~~996~~837.0677 46,~~773~~261,~~771~~899.0128 12,~~598~~375,~~131~~359.9357 812,~~684~~447,~~404~~954.7145 Totals ~~159~~186 3643 ~~127~~123 1221 ~~334~~373 2124,~~889~~827,~~123~~460.1012 45,~~004~~460,~~258~~123.8975 16,~~796~~358,~~762~~597.0741 12,~~668~~375,~~674~~359.1357 4449,~~358~~021,~~818~~540.1985 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.~~224551~~163165% 0.~~018713~~020396% 0.000000% 0.~~243263~~183561% 0.~~118744~~173078% 0.~~019545~~050505% 0.000000% 0.~~138289~~223583% 30 Days 1.~~983533~~957985% 0.~~018713~~000000% 0.~~000000~~020396% 0.000000% 21.~~002246~~978381% 1.~~880301~~692229% 0.~~006242~~000000% 0.~~000000~~022172% 0.000000% 1.~~886543~~714401% 60 Days 01.~~411677~~142158% 0.~~056138~~081583% 0.~~224551~~000000% 0.000000% 01.~~692365~~223741% 01.~~458856~~143512% 0.~~047260~~119436% 0.~~268572~~000000% 0.000000% 01.~~774688~~262948% 90 Days 0.~~149701~~265144% 0.~~093563~~101978% 0.~~542665~~469101% 0.000000% 0.~~785928~~836223% 0.~~170925~~287724% 0.~~078457~~061065% 0.~~522454~~484557% 0.000000% 0.~~771836~~833346% 120 Days 0.~~149701~~101978% 0.~~056138~~040791% 0.~~505240~~407914% 0.~~018713~~000000% 0.~~729790~~550683% 0.~~097665~~136688% 0.~~027930~~033755% 0.~~492988~~445071% 0.~~009070~~000000% 0.~~627652~~615514% 150 Days 0.~~093563~~061187% 0.~~093563~~101978% 0.~~299401~~428309% 0.000000% 0.~~486527~~591475% 0.~~065148~~057666% 0.~~080235~~054456% 0.~~242222~~431384% 0.000000% 0.~~387606~~543506% 180+ Days 0.~~187126~~265144% 0.~~130988~~387518% 01.~~785928~~162554% 0.~~205838~~428309% 12.~~309880~~243524% 0.~~141362~~207578% 0.~~155953~~333525% 0.~~613758~~889164% 0.~~205470~~337291% 1.~~116543~~767558% Totals 23.~~975299~~793596% 0.~~673653~~877014% 2.~~376497~~508668% 0.~~224551~~428309% 67.~~250000~~607587% 23.~~814257~~525397% 0.~~514823~~775315% 2.~~159539~~322853% 0.~~214539~~337291% 56.~~703157~~960856%

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 69 0 01 0 610 ~~337~~670,~~940~~266.0130 0.00 0156,147.0008 0.00 ~~337~~826,~~940~~413.0138 60 Days 13 0 0 0 13 ~~160~~337,~~716~~630.0788 0.00 0.00 0.00 ~~160~~337,~~716~~630.0788 90 Days 1 0 30 0 41 4142,~~452~~020.1649 0.00 ~~508,503~~0.7800 0.00 ~~549~~42,~~955~~020.9449 120 Days 10 10 10 0 30 ~~31,938~~0.6500 ~~52,892~~0.5800 ~~45,484~~0.3100 0.00 ~~130,315~~0.5400 150 Days 0 1 01 0 2 0.00 176,011.57 94264,463.2138 0.00 ~~0.00 0.00 94~~340,~~463~~474.2195 180 Days 54 01 4 02 911 ~~209~~219,~~631~~772.7278 052,892.0058 ~~202~~190,~~936~~014.1139 0.00 ~~412~~462,~~567~~679.8375 Totals 1517 12 86 02 2427 ~~876~~1,~~141~~269,690.8245 52128,~~892~~904.5815 ~~756~~610,~~924~~624.2085 0.00 12,~~685~~009,~~958~~219.6045 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~839161~~380368% 0.000000% 0.~~000000~~153374% 0.000000% 01.~~839161~~533742% 0.~~436864~~976643% 0.000000% 0.~~000000~~227521% 0.000000% 01.~~436864~~204164% 60 Days 0.~~139860~~460123% 0.000000% 0.000000% 0.000000% 0.~~139860~~460123% 0.~~207762~~491961% 0.000000% 0.000000% 0.000000% 0.~~207762~~491961% 90 Days 0.~~139860~~153374% 0.000000% 0.~~419580~~000000% 0.000000% 0.~~559441~~153374% 0.~~053586~~061228% 0.000000% 0.~~657356~~000000% 0.000000% 0.~~710942~~061228% 120 Days 0.~~139860~~000000% 0.~~139860~~000000% 0.~~139860~~000000% 0.000000% 0.~~419580~~000000% 0.~~041288~~000000% 0.~~068376~~000000% 0.~~058799~~000000% 0.000000% 0.~~168462~~000000% 150 Days 0.~~139860~~000000% 0.~~000000~~153374% 0.~~000000~~153374% 0.000000% 0.~~139860~~306748% 0.~~122115~~000000% 0.~~000000~~110756% 0.~~000000~~385349% 0.000000% 0.~~122115~~496105% 180 Days 0.~~699301~~613497% 0.~~000000~~153374% 0.~~559441~~613497% 0.~~000000~~306748% 1.~~258741~~687117% 0.~~270996~~320230% 0.~~000000~~077070% 0.~~262341~~276869% 0.000000% 0.~~533337~~674169% Totals 2.~~097902~~607362% 0.~~139860~~306748% 10.~~118881~~920245% 0.~~000000~~306748% 34.~~356643~~141104% 1.~~132611~~850061% 0.~~068376~~187826% 0.~~978496~~889739% 0.000000% 2.~~179483~~927627% 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 42 0 0 42 ~~363~~273,~~650~~730.9550 0.00 0.00 ~~363~~273,~~650~~730.9550 30 Days 7659 0 0 0 7659 97,~~565~~958,~~433~~975.3662 0.00 0.00 0.00 97,~~565~~958,~~433~~975.3662 60 Days 1340 3 80 0 2443 14,~~658~~945,~~578~~414.2454 ~~367~~419,~~585~~957.8268 ~~1,070,764~~0.6900 0.00 35,~~096~~365,~~928~~372.7522 90 Days 57 23 1315 0 2025 ~~975~~755,~~469~~170.6007 ~~349~~318,~~183~~901.7543 1,~~711~~541,~~046~~727.2106 0.00 32,~~035~~615,~~699~~798.56 120 Days 53 01 1913 10 2517 ~~482~~539,~~897~~809.4932 089,854.0012 1,~~999~~433,~~752~~948.8773 ~~70,542~~0.2000 2,~~553~~063,~~192~~612.5617 150 Days 32 31 1314 0 1917 ~~312~~247,~~410~~679.6634 ~~418~~74,~~607~~069.8564 1,~~568~~804,~~922~~272.1556 0.00 2,~~299~~126,~~940~~021.6654 180 Days 26 513 2740 38 3767 ~~479~~877,~~763~~313.5973 ~~624~~1,~~068~~771,395.2807 34,~~396~~241,~~234~~393.0116 ~~215~~817,~~893~~308.9205 47,~~715~~707,~~959~~410.8001 Totals ~~104~~117 1723 8082 48 ~~205~~230 1315,~~474~~324,~~552~~362.9462 2,~~123~~947,~~096~~908.6544 9,~~746~~021,~~719~~341.9351 ~~286~~817,~~436~~308.1205 2528,~~630~~110,~~805~~920.6462 0-29 Days 0.~~134138~~073206% 0.000000% 0.000000% 0.~~134138~~073206% 0.~~087901~~073274% 0.000000% 0.000000% 0.~~087901~~073274% 30 Days 2.~~548625~~159590% 0.000000% 0.000000% 0.000000% 2.~~548625~~159590% 2.~~312131~~130518% 0.000000% 0.000000% 0.000000% 2.~~312131~~130518% 60 Days 01.~~435949~~464129% 0.~~100604~~109810% 0.~~268276~~000000% 0.000000% 01.~~804829~~573939% 01.~~400907~~323826% 0.~~088852~~112417% 0.~~258822~~000000% 0.000000% 01.~~748581~~436243% 90 Days 0.~~167673~~256223% 0.~~067069~~109810% 0.~~435949~~549048% 0.000000% 0.~~670691~~915081% 0.~~235788~~202150% 0.~~084404~~085366% 0.~~413589~~412701% 0.000000% 0.~~733781~~700217% 120 Days 0.~~167673~~109810% 0.~~000000~~036603% 0.~~637156~~475842% 0.~~033535~~000000% 0.~~838364~~622255% 0.~~116725~~144500% 0.~~000000~~024053% 0.~~483375~~383850% 0.~~017051~~000000% 0.~~617151~~552403% 150 Days 0.~~100604~~073206% 0.~~100604~~036603% 0.~~435949~~512445% 0.000000% 0.~~637156~~622255% 0.~~075515~~066301% 0.~~101185~~019828% 0.~~379236~~482981% 0.000000% 0.~~555935~~569109% 180 Days 0.~~067069~~219619% 0.~~167673~~475842% 01.~~905433~~464129% 0.~~100604~~292826% 12.~~240778~~452416% 0.~~115967~~234846% 0.~~150848~~474180% 01.~~820929~~135368% 0.~~052185~~218783% 12.~~139929~~063177% Totals 34.~~487592~~282577% 0.~~570087~~841874% 23.~~682763~~001464% 0.~~134138~~292826% 68.~~874581~~418741% 34.~~257033~~102140% 0.~~513189~~789118% 2.~~355951~~414900% 0.~~069237~~218783% 67.~~195410~~524942% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3 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 76 0 0 76 ~~498~~945,~~360~~162.2363 0.00 0.00 ~~498~~945,~~360~~162.2363 30 Days 1719 10 0 0 1819 21,~~404~~955,~~371~~815.9454 ~~48,548~~0.5900 0.00 0.00 21,~~452~~955,~~920~~815.5354 60 Days 37 0 20 0 57 ~~338~~1,~~774~~116,156.7411 0.00 ~~95,893~~0.3800 0.00 ~~434~~1,~~668~~116,156.1211 90 Days 13 2 95 0 1210 ~~154~~359,~~087~~863.1455 ~~113~~111,~~105~~143.7462 ~~718~~936,~~373~~017.5635 0.00 ~~985~~1,~~566~~407,024.4452 120 Days 1 20 34 0 65 70154,~~658~~022.7792 ~~164,346~~0.3200 ~~188~~393,~~012~~161.1916 0.00 ~~423~~547,~~017~~184.2808 150 Days 10 2 14 0 46 ~~99,845~~0.7900 ~~205~~164,~~458~~008.0976 59253,~~475~~242.6608 0.00 ~~364~~417,~~779~~250.5484 180 Days 12 04 65 34 1015 ~~109~~190,~~867~~635.3984 0412,734.0076 ~~557~~343,~~950~~012.4177 ~~256~~324,~~575~~434.5834 ~~924~~1,~~393~~270,817.3871 Totals 2432 14 2118 34 6268 3,~~177~~776,~~605~~493.7796 1,~~029~~633,~~818~~049.9777 1,~~619~~925,~~705~~433.2036 ~~256~~324,~~575~~434.5834 67,~~083~~659,~~705~~411.5243 0-29 Days 0.~~574241~~532387% 0.000000% 0.000000% 0.~~574241~~532387% 0.~~305569~~631973% 0.000000% 0.000000% 0.~~305569~~631973% 30 Days 1.~~394586~~685892% 0.~~082034~~000000% 0.000000% 0.000000% 1.~~476620~~685892% 1.~~474239~~307734% 0.~~029768~~000000% 0.000000% 0.000000% 1.~~504007~~307734% 60 Days 0.~~246103~~621118% 0.000000% 0.~~164069~~000000% 0.000000% 0.~~410172~~621118% 0.~~207720~~746305% 0.000000% 0.~~058797~~000000% 0.000000% 0.~~266517~~746305% 90 Days 0.~~082034~~266193% 0.~~164069~~177462% 0.~~738310~~443656% 0.000000% 0.~~984413~~887311% 0.~~094478~~240619% 0.~~069351~~074315% 0.~~440470~~625858% 0.000000% 0.~~604300~~940791% 120 Days 0.~~082034~~088731% 0.~~164069~~000000% 0.~~246103~~354925% 0.000000% 0.~~492207~~443656% 0.~~043324~~102986% 0.~~100769~~000000% 0.~~115280~~262883% 0.000000% 0.~~259373~~365869% 150 Days 0.~~082034~~000000% 0.~~164069~~177462% 0.~~082034~~354925% 0.000000% 0.~~328138~~532387% 0.~~061220~~000000% 0.~~125977~~109663% 0.~~036467~~169328% 0.000000% 0.~~223664~~278990% 180 Days 0.~~082034~~177462% 0.~~000000~~354925% 0.~~492207~~443656% 0.~~246103~~354925% 01.~~820345~~330967% 0.~~067365~~127467% 0.~~000000~~275971% 0.~~342107~~229352% 0.~~157319~~216929% 0.~~566791~~849718% Totals 12.~~968827~~839397% 1.~~148482~~242236% 1.~~722724~~597161% 0.~~246103~~354925% 56.~~086136~~033718% 12.~~948347~~525111% 01.~~631433~~091921% 01.~~993121~~287420% 0.~~157319~~216929% 35.~~730221~~121381% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4 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 10 1 0 21 ~~61,575~~0.5900 ~~152~~355,~~018~~677.5042 0.00 ~~213~~355,~~594~~677.0942 30 Days 79 0 0 0 79 21,~~317~~332,~~124~~395.7801 0.00 0.00 0.00 21,~~317~~332,~~124~~395.7801 60 Days 56 1 0 2 0 7 1,~~410~~653,~~885~~936.8102 421,166.80 0.00 ~~922,278.43~~ 0.00 2,~~333~~075,~~164~~102.2482 90 Days 12 10 43 0 65 ~~158~~869,~~433~~226.4989 ~~147,947~~0.3200 1934,~~125,693~~730.9997 0.00 1,~~432~~803,~~074~~957.8086 120 Days 1 01 43 0 5 ~~174~~268,~~135~~786.4820 0147,865.0091 1,~~601~~307,~~178~~283.2361 0.00 1,~~775~~723,~~313~~935.7172 150 Days 01 01 2 0 24 0158,433.0049 069,413.0032 ~~255~~716,~~593~~026.1173 0.00 ~~255~~943,~~593~~873.1154 180 Days 21 21 58 57 1417 ~~300~~174,~~243~~135.0148 ~~588~~111,~~927~~815.7836 ~~616~~1,~~650~~487,478.4896 1,~~125~~233,~~662~~617.4318 23,~~631~~007,~~483~~046.7098 Totals 1620 4 1817 57 4348 4,~~360~~456,~~822~~913.5709 ~~798~~750,~~450~~261.6939 4,~~673~~801,~~412~~197.7469 1,~~125~~233,~~662~~617.4318 1011,~~958~~241,~~348~~989.4335 0-29 Days 0.~~233645~~000000% 0.~~233645~~255102% 0.000000% 0.~~467290~~255102% 0.~~049803~~000000% 0.~~122953~~316189% 0.000000% 0.~~172756~~316189% 30 Days 12.~~635514~~295918% 0.000000% 0.000000% 0.000000% 12.~~635514~~295918% 1.~~874099~~184470% 0.000000% 0.000000% 0.000000% 1.~~874099~~184470% 60 Days 1.~~168224~~530612% 0.~~000000~~255102% 0.~~467290~~000000% 0.000000% 1.~~635514~~785714% 1.~~141130~~470312% 0.~~000000~~374408% 0.~~745942~~000000% 0.000000% 1.~~887072~~844720% 90 Days 0.~~233645~~510204% 0.~~233645~~000000% 0.~~934579~~765306% 0.000000% 1.~~401869~~275510% 0.~~128142~~772723% 0.~~119660~~000000% 0.~~910466~~830955% 0.000000% 1.~~158268~~603679% 120 Days 0.~~233645~~255102% 0.~~000000~~255102% 0.~~934579~~765306% 0.000000% 1.~~168224~~275510% 0.~~140841~~238945% 0.~~000000~~131450% 1.~~295039~~162146% 0.000000% 1.~~435880~~532541% 150 Days 0.~~000000~~255102% 0.~~000000~~255102% 0.~~467290~~510204% 0.000000% 01.~~467290~~020408% 0.~~000000~~140844% 0.~~000000~~061707% 0.~~206725~~636532% 0.000000% 0.~~206725~~839083% 180 Days 0.~~467290~~255102% 0.~~467290~~255102% 12.~~168224~~040816% 1.~~168224~~785714% 34.~~271028~~336735% 0.~~242838~~154803% 0.~~476327~~099401% 01.~~498749~~322336% 01.~~910440~~096658% 2.~~128354~~673198% Totals 35.~~738318~~102041% 01.~~934579~~020408% 4.~~205607~~336735% 1.~~168224~~785714% 1012.~~046729~~244898% 3.~~527050~~962097% 0.~~645790~~666966% 34.~~779874~~268158% 01.~~910440~~096658% 89.~~863154~~993879%

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.~~055178~~033246% Weighted Average Net Coupon 7.~~555178~~533246% Weighted Average Pass-Through Rate 7.~~237940~~219042% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 5,~~529~~111 Number Of Loans Paid In Full ~~185~~208 Ending Scheduled Collateral Loan Count 54,~~344~~903 Beginning Scheduled Collateral Balance ~~810~~737,~~038~~349,~~903~~294.3946 Ending Scheduled Collateral Balance ~~777~~703,~~090~~547,~~730~~413.4096 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~777~~704,~~794~~245,~~042~~878.7826 Monthly P &I Constant 65,~~104~~555,~~983~~168.7638 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 96240,~~056~~225.8341 Cumulative Realized Loss ~~185~~452,~~217~~373.3239 Ending Scheduled Balance for Premium Loans ~~777~~703,~~090~~547,~~730~~413.4096 Scheduled Principal ~~667~~619,~~477~~078.6631 Unscheduled Principal 3233,~~280~~182,~~695~~802.3319

Miscellaneous Reporting Monthly Excess Cashflow 2,~~437~~116,~~503~~206.3210 Overcollateralization Amount 7,069,245.00 Overcollateralization Deficiency 0.00 Aggregate Overcollateralization Release 0.00 Targeted Overcollateralization Amount 7,069,245.00

Group Level Collateral Statement Group 1 2 3 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.~~809489~~814365 8.~~314705~~300334 7.~~818511~~787151 Weighted Average Net Rate 7.~~309489~~314365 7.~~814705~~800334 7.~~318511~~287151 Weighted Average Maturity ~~339~~337 ~~339~~337 ~~319~~317 Beginning Loan Count ~~740~~688 32,~~089~~847 1,~~252~~165 Loans Paid In Full 2536 ~~107~~115 3338 Ending Loan Count ~~715~~652 2,~~982~~732 1,~~219~~127 Beginning Scheduled Balance 8173,~~264~~819,~~446~~710.0500 ~~431~~391,~~066~~164,~~023~~115.1833 ~~168~~154,~~449~~492,~~023~~988.3325 Ending scheduled Balance 7768,~~274~~553,~~409~~751.4690 ~~413~~373,~~368~~230,~~269~~270.3954 ~~162~~149,~~931~~398,~~197~~146.6560 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~618~~564,~~242~~067.9533 32,~~291~~986,~~805~~630.2261 1,~~271~~165,~~506~~140.2726 Scheduled Principal 8983,~~381~~355.4655 ~~304~~280,~~982~~969.8492 ~~173~~162,~~989~~590.1808 Unscheduled Principal 35,~~900~~182,~~655~~602.1355 17,~~392~~652,~~770~~874.9587 54,~~343~~932,~~836~~251.5057 Scheduled Interest ~~528~~480,~~861~~711.4978 2,~~986~~705,~~822~~660.3869 1,~~097~~002,~~517~~550.0918 Servicing Fees 3330,~~860~~758.2119 ~~179~~162,~~610~~985.8002 7064,~~187~~372.0907 Master Servicing Fees 0.00 0.00 0.00 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 97,~~080~~414.2239 ~~157~~142,~~584~~859.3715 2723,~~267~~745.8407 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 ~~485~~442,~~921~~539.0620 2,~~649~~399,~~627~~816.2152 1914,~~000,062~~433.1604 Realized Loss Amount 0107,566.0043 0.00 74108,~~710~~663.8677 Cumulative Realized Loss 0107,566.0043 8891,~~800~~041.9731 75208,~~070~~424.3847 Percentage of Cumulative Losses 0.001195 0.000182 0.001062 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.~~175405~~193838 7.~~376022~~362076 7.~~124260~~102715

Group Level Collateral Statement Group 4 Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~652566~~606533 8.~~055178~~033246 Weighted Average Net Rate 7.~~152566~~106533 7.~~555178~~533246 Weighted Average Maturity ~~319~~317 1 Beginning Loan Count ~~448~~411 5,~~529~~111 Loans Paid In Full 2019 ~~185~~208 Ending Loan Count ~~428~~392 54,~~344~~903 Beginning Scheduled Balance ~~129~~117,~~259~~872,~~410~~480.8388 ~~810~~737,~~038~~349,~~903~~294.3946 Ending scheduled Balance ~~123~~112,~~516~~365,~~853~~244.9092 ~~777~~703,~~090~~547,~~730~~413.4096 Record Date 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~923~~839,~~429~~330.3218 65,~~104~~555,~~983~~168.7638 Scheduled Principal 9992,~~124~~162.1876 ~~667~~619,~~477~~078.6631 Unscheduled Principal 5,~~643~~415,~~432~~073.7520 3233,~~280~~182,~~695~~802.3319 Scheduled Interest ~~824~~747,~~305~~167.1442 54,~~437~~936,~~506~~090.1007 Servicing Fees 5349,~~858~~113.0954 ~~337~~307,~~516~~228.1982 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 2019,~~213~~046.0522 ~~214~~193,~~145~~064.4883 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 ~~750~~679,~~234~~007.0066 4,~~885~~435,~~844~~796.4342 Realized Loss Amount 2123,~~345~~995.9721 96240,~~056~~225.8341 Cumulative Realized Loss 2145,~~345~~341.9718 ~~185~~452,~~217~~373.3239 Percentage of Cumulative Losses 0.000293 0.000480 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.~~964915~~912633 7.~~237940~~219042

Filing Compare · STRUCTURED ASSET INVESTMENT LOAN TRUST 2003-BC1