8-K 1 bsa03ac5.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 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-AC5 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-13 54-2126365 Pooling and Servicing Agreement) (Commission 54-2126367 (State or other File Number) 54-2126366 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 BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2003-AC5 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 Certificates, Series 2003-AC5 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. BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-AC5 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: 1/5/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Certificates, Series 2003-AC5 Trust, relating to the December 26, 2003 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 BSA Series: 2003-AC5 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 07384YMA1 SEN 5.25000% ~~140~~136,~~000~~858,~~000~~200.0053 ~~612~~598,~~500~~754.0063 1,~~603~~370,~~607~~221.5691 A-2 07384YMB9 SEN 5.00000% ~~168~~164,~~265~~489,~~417~~301.0030 ~~701~~685,~~105~~372.9009 1,~~927~~646,~~369~~864.2501 A-3 07384YMC7 SEN 1.~~72000~~71875% 4241,~~569~~614,~~583~~260.0090 5059,~~847~~603.0076 ~~487~~416,~~606~~641.4725 A-4 07384YMD5 IO 6.~~28000~~28125% 0.00 ~~185~~217,~~650~~824.6865 0.00 A-5 07384YNA0 SEN 4.75000% ~~150~~146,~~000~~633,~~000~~786.0028 ~~593~~580,~~750~~425.0040 1,~~718~~468,~~150~~094.9690 M-1 07384YME3 MEZ 5.25000% 3938,~~772~~879,~~000~~459.0066 ~~174~~170,~~002~~097.5064 ~~455~~389,~~562~~260.0047 M-2 07384YMF0 MEZ 2.~~82000~~81875% 3534,~~353~~559,~~000~~628.0032 7483,~~771~~885.5910 ~~404~~346,~~945~~010.2739 B 07384YMG8 SUB 4.~~37000~~36875% 1312,~~258~~960,~~132~~600.0063 4348,~~453~~757.5351 ~~151~~129,~~863~~761.1531 C 07384YMM5 OC 0.00000% 01,035,361.1923 0.00 0.00 P 07384YML7 SEN 0.00000% 100.00 021,725.0028 0.00 R-1 07384YMN3 RES 0.00000% 0.00 0.00 0.00 R-2 07384YMP8 RES 0.00000% 0.00 0.00 0.00 R-3 07384YMQ6 RES 0.00000% 0.00 0.00 0.00 Totals ~~589~~577,~~218~~030,~~232~~698.1985 2,~~436~~466,~~081~~446.2006 65,~~749~~766,~~104~~854.6624

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~138~~135,~~396~~487,~~392~~978.4462 21,~~216~~968,~~107~~976.5654 0.00 A-2 0.00 ~~166~~162,~~338~~842,~~047~~437.7529 2,~~628~~332,~~475~~236.1510 0.00 A-3 0.00 4241,~~081~~197,~~976~~619.5365 ~~538~~476,~~453~~245.4701 0.00 A-4 0.00 0.00 ~~185~~217,~~650~~824.6865 0.00 A-5 0.00 ~~148~~145,~~281~~165,~~849~~691.0438 2,~~311~~048,~~900~~520.9630 0.00 M-1 0.00 3938,~~316~~490,~~438~~199.0019 ~~629~~559,~~564~~358.5011 0.00 M-2 0.00 34,~~948~~213,~~054~~617.7392 ~~479~~429,~~716~~895.8649 0.00 B 0.00 1312,~~106~~830,~~268~~839.8532 ~~195~~178,~~316~~518.6882 0.00 C 0.00 ~~547~~1,~~440~~511,082.2949 0.00 0.00 P 0.00 100.00 021,725.0028 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 ~~583~~571,~~016~~739,~~567~~565.6386 98,~~185~~233,~~185~~300.8630 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-1 140,000,000.00 ~~140~~136,~~000~~858,~~000~~200.0053 0.00 1,~~603~~370,~~607~~221.5691 0.00 0.00 A-2 168,265,417.00 ~~168~~164,~~265~~489,~~417~~301.0030 0.00 1,~~927~~646,~~369~~864.2501 0.00 0.00 A-3 42,569,583.00 4241,~~569~~614,~~583~~260.0090 0.00 ~~487~~416,~~606~~641.4725 0.00 0.00 A-4 0.00 0.00 0.00 0.00 0.00 0.00 A-5 150,000,000.00 ~~150~~146,~~000~~633,~~000~~786.0028 0.00 1,~~718~~468,~~150~~094.9690 0.00 0.00 M-1 39,772,000.00 3938,~~772~~879,~~000~~459.0066 0.00 ~~455~~389,~~562~~260.0047 0.00 0.00 M-2 35,353,000.00 3534,~~353~~559,~~000~~628.0032 0.00 ~~404~~346,~~945~~010.2739 0.00 0.00 B 13,258,132.00 1312,~~258~~960,~~132~~600.0063 0.00 ~~151~~129,~~863~~761.1531 0.00 0.00 C 0.19 01,035,361.1923 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 589,218,232.19 ~~589~~577,~~218~~030,~~232~~698.1985 0.00 65,~~749~~766,~~104~~854.6624 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 1,~~603~~370,~~607~~221.5691 ~~138~~135,~~396~~487,~~392~~978.4462 0.~~98854566~~96777128 1,~~603~~370,~~607~~221.5691 A-2 1,~~927~~646,~~369~~864.2501 ~~166~~162,~~338~~842,~~047~~437.7529 0.~~98854566~~96777128 1,~~927~~646,~~369~~864.2501 A-3 ~~487~~416,~~606~~641.4725 4241,~~081~~197,~~976~~619.5365 0.~~98854566~~96777128 ~~487~~416,~~606~~641.4725 A-4 0.00 0.00 0.00000000 0.00 A-5 1,~~718~~468,~~150~~094.9690 ~~148~~145,~~281~~165,~~849~~691.0438 0.~~98854566~~96777128 1,~~718~~468,~~150~~094.9690 M-1 ~~455~~389,~~562~~260.0047 3938,~~316~~490,~~438~~199.0019 0.~~98854566~~96777128 ~~455~~389,~~562~~260.0047 M-2 ~~404~~346,~~945~~010.2739 34,~~948~~213,~~054~~617.7392 0.~~98854566~~96777128 ~~404~~346,~~945~~010.2739 B ~~151~~129,~~863~~761.1531 1312,~~106~~830,~~268~~839.8532 0.~~98854566~~96777128 ~~151~~129,~~863~~761.1531 C 0.00 ~~547~~1,~~440~~511,082.2949 ~~881~~53,~~264~~065.~~68421053~~73684211 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 65,~~749~~766,~~104~~854.6624 ~~583~~571,~~016~~739,~~567~~565.6386 0.~~98947476~~97033584 65,~~749~~766,~~104~~854.6624

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 140,000,000.00 ~~1000~~977.~~00000000~~55857521 0.00000000 119.~~45433971~~78729936 0.00000000 A-2 168,265,417.00 ~~1000~~977.~~00000000~~55857521 0.00000000 119.~~45433972~~78729937 0.00000000 A-3 42,569,583.00 ~~1000~~977.~~00000000~~55857510 0.00000000 119.~~45433983~~78729930 0.00000000 A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-5 150,000,000.00 ~~1000~~977.~~00000000~~55857520 0.00000000 119.~~45433973~~78729933 0.00000000 M-1 39,772,000.00 ~~1000~~977.~~00000000~~55857538 0.00000000 119.~~45433974~~78729936 0.00000000 M-2 35,353,000.00 ~~1000~~977.~~00000000~~55857551 0.00000000 119.~~45433966~~78729924 0.00000000 B 13,258,132.00 ~~1000~~977.~~00000000~~55857537 0.00000000 119.~~45433987~~78729960 0.00000000 C 0.19 ~~1000~~1449269631.~~00000000~~57895000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000

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 119.~~45433971~~78729936 ~~988~~967.~~54566029~~77127586 0.~~98854566~~96777128 119.~~45433971~~78729936 A-2 0.00000000 119.~~45433972~~78729937 ~~988~~967.~~54566028~~77127584 0.~~98854566~~96777128 119.~~45433972~~78729937 A-3 0.00000000 119.~~45433983~~78729930 ~~988~~967.~~54566017~~77127580 0.~~98854566~~96777128 119.~~45433983~~78729930 A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-5 0.00000000 119.~~45433973~~78729933 ~~988~~967.~~54566027~~77127587 0.~~98854566~~96777128 119.~~45433973~~78729933 M-1 0.00000000 119.~~45433974~~78729936 ~~988~~967.~~54566026~~77127602 0.~~98854566~~96777128 119.~~45433974~~78729936 M-2 0.00000000 119.~~45433966~~78729924 ~~988~~967.~~54566034~~77127599 0.~~98854566~~96777128 119.~~45433966~~78729924 B 0.00000000 119.~~45433987~~78729960 ~~988~~967.~~54566013~~77127577 0.~~98854566~~96777128 119.~~45433987~~78729960 C 0.00000000 0.00000000 253,~~881~~065,~~264,684~~736.~~21053000~~84210000 ~~2881264~~7953065.~~68421053~~73684211 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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-1 140,000,000.00 5.25000% ~~140~~136,~~000~~858,~~000~~200.0053 ~~612~~598,~~500~~754.0063 0.00 0.00 A-2 168,265,417.00 5.00000% ~~168~~164,~~265~~489,~~417~~301.0030 ~~701~~685,~~105~~372.9009 0.00 0.00 A-3 42,569,583.00 1.~~72000~~71875% 4241,~~569~~614,~~583~~260.0090 5059,~~847~~603.0076 0.00 0.00 A-4 0.00 6.~~28000~~28125% 4241,~~569~~614,~~583~~260.0090 ~~185~~217,~~650~~824.6865 0.00 0.00 A-5 150,000,000.00 4.75000% ~~150~~146,~~000~~633,~~000~~786.0028 ~~593~~580,~~750~~425.0040 0.00 0.00 M-1 39,772,000.00 5.25000% 3938,~~772~~879,~~000~~459.0066 ~~174~~170,~~002~~097.5064 0.00 0.00 M-2 35,353,000.00 2.~~82000~~81875% 3534,~~353~~559,~~000~~628.0032 7483,~~771~~885.6010 0.00 0.00 B 13,258,132.00 4.~~37000~~36875% 1312,~~258~~960,~~132~~600.0063 4348,~~453~~757.5351 0.00 0.00 C 0.19 0.00000% 01,035,361.1923 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 589,218,232.19 2,~~436~~444,~~081~~720.2178 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 ~~612~~598,~~500~~754.0063 0.00 ~~138~~135,~~396~~487,~~392~~978.4462 A-2 0.00 0.00 ~~701~~685,~~105~~372.9009 0.00 ~~166~~162,~~338~~842,~~047~~437.7529 A-3 0.00 0.00 5059,~~847~~603.0076 0.00 4241,~~081~~197,~~976~~619.5365 A-4 0.00 0.00 ~~185~~217,~~650~~824.6865 0.00 4241,~~081~~197,~~976~~619.5365 A-5 0.00 0.00 ~~593~~580,~~750~~425.0040 0.00 ~~148~~145,~~281~~165,~~849~~691.0438 M-1 0.00 0.00 ~~174~~170,~~002~~097.5064 0.00 3938,~~316~~490,~~438~~199.0019 M-2 0.00 0.00 7483,~~771~~885.5910 0.00 34,~~948~~213,~~054~~617.7392 B 0.00 0.00 4348,~~453~~757.5351 0.00 1312,~~106~~830,~~268~~839.8532 C 0.00 0.00 0.00 0.00 ~~547~~1,~~440~~511,082.2949 P 0.00 0.00 021,725.0028 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,~~436~~466,~~081~~446.2006 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-1 140,000,000.00 5.25000% ~~1000~~977.~~00000000~~55857521 4.~~37500000~~27681879 0.00000000 0.00000000 A-2 168,265,417.00 5.00000% ~~1000~~977.~~00000000~~55857521 4.~~16666664~~07316074 0.00000000 0.00000000 A-3 42,569,583.00 1.~~72000~~71875% ~~1000~~977.~~00000000~~55857510 1.~~19444440~~40014902 0.00000000 0.00000000 A-4 0.00 6.~~28000~~28125% ~~1000~~977.~~00000000~~55857510 45.~~36111108~~11690824 0.00000000 0.00000000 A-5 150,000,000.00 4.75000% ~~1000~~977.~~00000000~~55857520 3.~~95833333~~86950267 0.00000000 0.00000000 M-1 39,772,000.00 5.25000% ~~1000~~977.~~00000000~~55857538 4.~~37500000~~27681887 0.00000000 0.00000000 M-2 35,353,000.00 2.~~82000~~81875% ~~1000~~977.~~00000000~~55857551 2.~~11500014~~37278590 0.00000000 0.00000000 B 13,258,132.00 4.~~37000~~36875% ~~1000~~977.~~00000000~~55857537 3.~~27750018~~67755503 0.00000000 0.00000000 C 0.19 0.00000% ~~1000~~449269631.~~00000000~~57895000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 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 4.~~37500000~~27681879 0.00000000 ~~988~~967.~~54566029~~77127586 A-2 0.00000000 0.00000000 4.~~16666664~~07316074 0.00000000 ~~988~~967.~~54566028~~77127584 A-3 0.00000000 0.00000000 1.~~19444440~~40014902 0.00000000 ~~988~~967.~~54566017~~77127580 A-4 0.00000000 0.00000000 45.~~36111108~~11690824 0.00000000 ~~988~~967.~~54566017~~77127580 A-5 0.00000000 0.00000000 3.~~95833333~~86950267 0.00000000 ~~988~~967.~~54566027~~77127587 M-1 0.00000000 0.00000000 4.~~37500000~~27681887 0.00000000 ~~988~~967.~~54566026~~77127602 M-2 0.00000000 0.00000000 2.~~11499986~~37278590 0.00000000 ~~988~~967.~~54566034~~77127599 B 0.00000000 0.00000000 3.~~27750018~~67755503 0.00000000 ~~988~~967.~~54566013~~77127577 C 0.00000000 0.00000000 0.00000000 0.00000000 ~~881264684~~953065736.~~21053000~~84210000 P 0.00000000 0.00000000 0217252.~~00000000~~80000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 98,~~231~~333,~~999~~300.6518 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 75113,~~939~~696.9965 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 98,~~307~~446,~~939~~996.6483 Withdrawals Reimbursement for Servicer Advances 093,481.0083 Payment of Service Fee ~~122~~120,~~753~~214.7870 Payment of Interest and Principal 98,~~185~~233,~~185~~300.8630 Total Withdrawals (Pool Distribution Amount) 98,~~307~~446,~~939~~996.6483 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~122~~120,~~753~~214.7870 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~122~~120,~~753~~214.7870

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 6073 0 0 0 6073 914,~~548~~746,~~855~~684.9231 0.00 0.00 0.00 914,~~548~~746,~~855~~684.9231 60 Days 1011 0 0 0 1011 12,~~416~~224,~~870~~231.2080 0.00 0.00 0.00 12,~~416~~224,~~870~~231.2080 90 Days 13 0 0 0 13 ~~156~~318,~~654~~114.7798 0.00 0.00 0.00 ~~156~~318,~~654~~114.7798 120 Days 02 0 0 0 02 0213,057.0013 0.00 0.00 0.00 0213,057.0013 150 Days 10 0 0 0 10 ~~460,002~~0.1300 0.00 0.00 0.00 ~~460,002~~0.1300 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 7289 0 0 0 7289 1117,~~582~~502,~~383~~088.0222 0.00 0.00 0.00 1117,~~582~~502,~~383~~088.0222 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 12.~~932367~~387181% 0.000000% 0.000000% 0.000000% 12.~~932367~~387181% 12.~~636225~~576479% 0.000000% 0.000000% 0.000000% 12.~~636225~~576479% 60 Days 0.~~322061~~359712% 0.000000% 0.000000% 0.000000% 0.~~322061~~359712% 0.~~242785~~388609% 0.000000% 0.000000% 0.000000% 0.~~242785~~388609% 90 Days 0.~~032206~~098103% 0.000000% 0.000000% 0.000000% 0.~~032206~~098103% 0.~~026843~~055580% 0.000000% 0.000000% 0.000000% 0.~~026843~~055580% 120 Days 0.~~000000~~065402% 0.000000% 0.000000% 0.000000% 0.~~000000~~065402% 0.~~000000~~037224% 0.000000% 0.000000% 0.000000% 0.~~000000~~037224% 150 Days 0.~~032206~~000000% 0.000000% 0.000000% 0.000000% 0.~~032206~~000000% 0.~~078823~~000000% 0.000000% 0.000000% 0.000000% 0.~~078823~~000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.~~318841~~910399% 0.000000% 0.000000% 0.000000% 2.~~318841~~910399% 13.~~984676~~057892% 0.000000% 0.000000% 0.000000% 13.~~984676~~057892%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 75113,~~939~~696.9965

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.~~326233~~323388% Weighted Average Net Coupon 6.~~076233~~073388% Weighted Average Pass-Through Rate 6.~~076233~~073388% Weighted Average Maturity(Stepdown Calculation ) ~~334~~332 Beginning Scheduled Collateral Loan Count 3,~~128~~085 Number Of Loans Paid In Full 2327 Ending Scheduled Collateral Loan Count 3,~~105~~058 Beginning Scheduled Collateral Balance ~~589~~577,~~218~~030,~~232~~598.0086 Ending Scheduled Collateral Balance ~~583~~571,~~016~~739,~~467~~465.6387 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~583~~572,~~590~~357,~~726~~985.0842 Monthly P &I Constant 3,~~817~~747,~~240~~973.3032 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~583~~571,~~016~~739,~~467~~465.6387 Scheduled Principal ~~710~~707,~~964~~316.5059 Unscheduled Principal 54,~~490~~583,~~699~~816.3440 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~547~~475,~~440~~721.8326 Overcollateralized reduction Amount 0.00 Specified O/C Amount 7,365,227.00 Overcollateralized Amount ~~547~~1,~~440~~511,082.2949 Overcollateralized Deficiency Amount 65,~~817~~854,~~786~~144.7151 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~547~~475,~~440~~721.8326 Excess Cash Amount ~~547~~497,~~440~~446.8254

Miscellaneous Reporting Net WAC Rate Carryover Amount Class A-1 0.00 Net WAC Rate Carryover Amount Class A-2 0.00 Net WAC Rate Carryover Amount Class A-3 0.00 Net WAC Rate Carryover Amount Class A-4 0.00 Net WAC Rate Carryover Amount Class A-5 0.00 Net WAC Rate Carryover Amount Class B 0.00 Net WAC Rate Carryover Amount Class M-1 0.00 Net WAC Rate Carryover Amount Class M-2 0.00 Three month rolling average 0.~~001163~~002884%

Filing Compare · ASSET-BACKED CERTIFICATES SERIES 2003-AC5