8-K 1 msc03hy1_dec.txt DECEMBER 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): December 26, 2003 MORGAN STANLEY DEAN WITTER CAPITAL I INC. Mortgage Pass-Through Certificates, Series 2003-HYB1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-83986-16 54-2102381 Pooling and Servicing Agreement) (Commission 54-2102382 (State or other File Number) IRS EIN jurisdiction of Incorporation) 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 MORGAN STANLEY DEAN WITTER CAPITAL I INC., Mortgage Pass-Through Certificates, Series 2003-HYB1 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-HYB1 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. MORGAN STANLEY DEAN WITTER CAPITAL I INC. Mortgage Pass-Through Certificates, Series 2003-HYB1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 1/8/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-HYB1 Trust, relating to the December 26, 2003 distribution.

Morgan Stanley Capital I Inc. Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 MSMC Series: 2003-~~HY1~~HYB1 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 61746WB74 SEN 3.70000% 3533,~~235~~465,~~675~~709.9643 ~~108~~103,~~643~~185.3394 1878,~~443,503~~632.9293 A-2 61746WB82 SEN 4.30000% ~~181~~172,~~210~~107,~~289~~693.8412 ~~649~~616,~~336~~719.8723 74,~~423~~518,~~662~~639.4278 A-3 61746WB90 SEN 4.60000% 3029,~~737~~193,~~722~~698.3001 ~~117~~111,~~827~~909.9317 1766,~~259,235~~472.7445 A-4 61746WC24 SEN 4.20000% 8,~~782~~341,~~206~~056.3757 3029,~~737~~193.7270 ~~359~~218,~~781~~992.6413 A-R MSC03H1AR RES 4.25000% 0.00 1,~~610~~554.7369 0.00 A-X 61746WC65 IO 4.25000% 0.00 1413,~~477~~251.1287 0.00 B-1 61746WC32 SUB 4.25000% 3,307,000.00 11,712.29 0.00 B-2 61746WC40 SUB 4.25000% 2,405,000.00 8,517.71 0.00 B-3 61746WC57 SUB 4.25000% 1,653,000.00 5,854.3837 0.00 B-4 61746WC81 SUB 4.25000% 601,000.00 2,128.54 0.00 B-5 61746WC99 SUB 4.25000% 301,000.00 1,066.04 0.00 B-6 61746WD23 SUB 4.25000% 902,524.55 3,196.44 0.00 Totals ~~265~~252,~~135~~277,~~419~~681.0268 ~~955~~908,~~109~~289.1099 106,~~486~~382,~~183~~737.7229

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 3332,~~792~~587,~~172~~076.0450 1981,~~552,147~~818.2587 0.00 A-2 0.00 ~~173~~167,~~786~~589,~~627~~053.4334 85,~~072~~135,~~999~~359.2901 0.00 A-3 0.00 2928,~~478~~427,~~486~~225.56 1878,~~377,063~~381.6762 0.00 A-4 0.00 8,~~422~~122,~~424~~064.7344 ~~390~~248,~~519~~185.3683 0.00 A-R 0.00 0.00 1,~~610~~554.7369 0.00 A-X 0.00 0.00 1413,~~477~~251.1287 0.00 B-1 0.00 3,307,000.00 11,712.29 0.00 B-2 0.00 2,405,000.00 8,517.71 0.00 B-3 0.00 1,653,000.00 5,854.3837 0.00 B-4 0.00 601,000.00 2,128.54 0.00 B-5 0.00 301,000.00 1,066.04 0.00 B-6 0.00 902,524.55 3,196.44 0.00 Totals 0.00 ~~254~~245,~~649~~894,~~235~~944.3139 117,~~441~~291,~~292~~027.8228 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 40,121,667.00 3533,~~235~~465,~~675~~709.9643 0.00 1878,~~443,503~~632.9293 0.00 0.00 A-2 206,338,000.00 ~~181~~172,~~210~~107,~~289~~693.8412 0.00 74,~~423~~518,~~662~~639.4278 0.00 0.00 A-3 35,000,000.00 3029,~~737~~193,~~722~~698.3001 0.00 1766,~~259,235~~472.7445 0.00 0.00 A-4 10,000,000.00 8,~~782~~341,~~206~~056.3757 0.00 ~~359~~218,~~781~~992.6413 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 A-X 0.00 0.00 0.00 0.00 0.00 0.00 B-1 3,307,000.00 3,307,000.00 0.00 0.00 0.00 0.00 B-2 2,405,000.00 2,405,000.00 0.00 0.00 0.00 0.00 B-3 1,653,000.00 1,653,000.00 0.00 0.00 0.00 0.00 B-4 601,000.00 601,000.00 0.00 0.00 0.00 0.00 B-5 301,000.00 301,000.00 0.00 0.00 0.00 0.00 B-6 902,524.55 902,524.55 0.00 0.00 0.00 0.00 Totals 300,629,291.55 ~~265~~252,~~135~~277,~~419~~681.0268 0.00 106,~~486~~382,~~183~~737.7229 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 1878,~~443,503~~632.9293 3332,~~792~~587,~~172~~076.0450 0.~~84224247~~81220644 1878,~~443,503~~632.9293 A-2 74,~~423~~518,~~662~~639.4278 ~~173~~167,~~786~~589,~~627~~053.4334 0.~~84224247~~81220644 74,~~423~~518,~~662~~639.4278 A-3 1766,~~259,235~~472.7445 2928,~~478~~427,~~486~~225.56 0.~~84224247~~81220644 1766,~~259,235~~472.7445 A-4 ~~359~~218,~~781~~992.6413 8,~~422~~122,~~424~~064.7344 0.~~84224247~~81220644 ~~359~~218,~~781~~992.6413 A-R 0.00 0.00 0.00000000 0.00 A-X 0.00 0.00 0.00000000 0.00 B-1 0.00 3,307,000.00 1.00000000 0.00 B-2 0.00 2,405,000.00 1.00000000 0.00 B-3 0.00 1,653,000.00 1.00000000 0.00 B-4 0.00 601,000.00 1.00000000 0.00 B-5 0.00 301,000.00 1.00000000 0.00 B-6 0.00 902,524.55 1.00000000 0.00 Totals 106,~~486~~382,~~183~~737.7229 ~~254~~245,~~649~~894,~~235~~944.3139 0.~~84705397~~81793408 106,~~486~~382,~~183~~737.7229

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 40,121,667.00 ~~878~~834.~~22063724~~10565742 0.00000000 3521.~~97816412~~89921296 0.00000000 A-2 206,338,000.00 ~~878~~834.~~22063721~~10565732 0.00000000 3521.~~97816408~~89921284 0.00000000 A-3 35,000,000.00 ~~878~~834.~~22063714~~10565743 0.00000000 3521.~~97816400~~89921286 0.00000000 A-4 10,000,000.00 ~~878~~834.~~22063700~~10565700 0.00000000 3521.~~97816400~~89921300 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 A-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 3,307,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 2,405,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 1,653,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 601,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 301,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 902,524.55 1000.00000000 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 3521.~~97816412~~89921296 ~~842~~812.~~24247313~~20644446 0.~~84224247~~81220644 3521.~~97816412~~89921296 A-2 0.00000000 3521.~~97816408~~89921284 ~~842~~812.~~24247318~~20644447 0.~~84224247~~81220644 3521.~~97816408~~89921284 A-3 0.00000000 3521.~~97816400~~89921286 ~~842~~812.~~24247314~~20644457 0.~~84224247~~81220644 3521.~~97816400~~89921286 A-4 0.00000000 3521.~~97816400~~89921300 ~~842~~812.~~24247300~~20644400 0.~~84224247~~81220644 3521.~~97816400~~89921300 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-6 0.00000000 0.00000000 1,000.00000000 1.00000000 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 40,121,667.00 3.70000% 3533,~~235~~465,~~675~~709.9643 ~~108~~103,~~643~~185.3394 0.00 0.00 A-2 206,338,000.00 4.30000% ~~181~~172,~~210~~107,~~289~~693.8412 ~~649~~616,~~336~~719.8723 0.00 0.00 A-3 35,000,000.00 4.60000% 3029,~~737~~193,~~722~~698.3001 ~~117~~111,~~827~~909.9418 0.00 0.00 A-4 10,000,000.00 4.20000% 8,~~782~~341,~~206~~056.3757 3029,~~737~~193.7270 0.00 0.00 A-R 100.00 4.25000% 0.00 ~~1,610~~0.7300 0.00 0.00 A-X 0.00 4.25000% 43,~~087~~741,~~658~~704.0284 1413,~~477~~251.1287 0.00 0.00 B-1 3,307,000.00 4.25000% 3,307,000.00 11,712.29 0.00 0.00 B-2 2,405,000.00 4.25000% 2,405,000.00 8,517.71 0.00 0.00 B-3 1,653,000.00 4.25000% 1,653,000.00 5,854.38 0.00 0.00 B-4 601,000.00 4.25000% 601,000.00 2,128.54 0.00 0.00 B-5 301,000.00 4.25000% 301,000.00 1,066.04 0.00 0.00 B-6 902,524.55 4.25000% 902,524.55 3,196.44 0.00 0.00 Totals 300,629,291.55 ~~955~~906,~~109~~735.1132 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 ~~108~~103,~~643~~185.3394 0.00 3332,~~792~~587,~~172~~076.0450 A-2 0.00 0.00 ~~649~~616,~~336~~719.8723 0.00 ~~173~~167,~~786~~589,~~627~~053.4334 A-3 0.00 0.00 ~~117~~111,~~827~~909.9317 0.00 2928,~~478~~427,~~486~~225.56 A-4 0.00 0.00 3029,~~737~~193.7270 0.00 8,~~422~~122,~~424~~064.7344 A-R 0.00 0.00 1,~~610~~554.7369 0.00 0.00 A-X 0.00 0.00 1413,~~477~~251.1287 0.00 3,~~970~~565,~~894~~584.9715 B-1 0.00 0.00 11,712.29 0.00 3,307,000.00 B-2 0.00 0.00 8,517.71 0.00 2,405,000.00 B-3 0.00 0.00 5,854.3837 0.00 1,653,000.00 B-4 0.00 0.00 2,128.54 0.00 601,000.00 B-5 0.00 0.00 1,066.04 0.00 301,000.00 B-6 0.00 0.00 3,196.44 0.00 902,524.55 Totals 0.00 0.00 ~~955~~908,~~109~~289.1099 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 40,121,667.00 3.70000% ~~878~~834.~~22063724~~10565742 2.~~70784686~~57182584 0.00000000 0.00000000 A-2 206,338,000.00 4.30000% ~~878~~834.~~22063721~~10565732 32.~~14695727~~98887859 0.00000000 0.00000000 A-3 35,000,000.00 4.60000% ~~878~~834.~~22063714~~10565743 3.~~36651257~~19740514 0.00000000 0.00000000 A-4 10,000,000.00 4.20000% ~~878~~834.~~22063700~~10565700 32.~~07377200~~91937000 0.00000000 0.00000000 A-R 100.00 4.25000% 0.00000000 ~~16107~~0.~~30000000~~00000000 0.00000000 0.00000000 A-X 0.00 4.25000% ~~765~~700.~~42499153~~64432530 2.~~71087977~~48144841 0.00000000 0.00000000 B-1 3,307,000.00 4.25000% 1000.00000000 3.54166616 0.00000000 0.00000000 B-2 2,405,000.00 4.25000% 1000.00000000 3.54166736 0.00000000 0.00000000 B-3 1,653,000.00 4.25000% 1000.00000000 3.54166969 0.00000000 0.00000000 B-4 601,000.00 4.25000% 1000.00000000 3.54166389 0.00000000 0.00000000 B-5 301,000.00 4.25000% 1000.00000000 3.54166113 0.00000000 0.00000000 B-6 902,524.55 4.25000% 1000.00000000 3.54166543 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 2.~~70784686~~57182584 0.00000000 ~~842~~812.~~24247313~~20644446 A-2 0.00000000 0.00000000 32.~~14695727~~98887859 0.00000000 ~~842~~812.~~24247318~~20644447 A-3 0.00000000 0.00000000 3.~~36651229~~19740486 0.00000000 ~~842~~812.~~24247314~~20644457 A-4 0.00000000 0.00000000 32.~~07377200~~91937000 0.00000000 ~~842~~812.~~24247300~~20644400 A-R 0.00000000 0.00000000 ~~16107~~15546.~~30000000~~90000000 0.00000000 0.00000000 A-X 0.00000000 0.00000000 2.~~71087977~~48144841 0.00000000 ~~743~~667.~~56079543~~66525097 B-1 0.00000000 0.00000000 3.54166616 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.54166736 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 3.~~54166969~~54166364 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 3.54166389 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 3.54166113 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 3.54166543 0.00000000 1000.00000000 (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 117,~~591~~442,~~699~~017.8602 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~3,075~~0.6300 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 117,~~594~~442,~~775~~017.4902 Withdrawals Reimbursement for Servicer Advances 05,055.0076 Payment of Service Fee ~~153~~145,~~482~~933.6798 Payment of Interest and Principal 117,~~441~~291,~~292~~027.8228 Total Withdrawals (Pool Distribution Amount) 117,~~594~~442,~~775~~017.4902 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~153~~145,~~482~~933.6798 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~153~~145,~~482~~933.6798

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 20 0 0 0 20 ~~807,000~~0.00 0.00 0.00 0.00 ~~807,000~~0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 20 0 0 0 20 ~~807,000~~0.00 0.00 0.00 0.00 ~~807,000~~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.~~320513~~000000% 0.000000% 0.000000% 0.000000% 0.~~320513~~000000% 0.~~316907~~000000% 0.000000% 0.000000% 0.000000% 0.~~316907~~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.~~320513~~000000% 0.000000% 0.000000% 0.000000% 0.~~320513~~000000% 0.~~316907~~000000% 0.000000% 0.000000% 0.000000% 0.~~316907~~000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~3,075~~0.6300

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 100,000.00 0.03326356% 100,000.00 0.~~03926970~~04066777% Fraud 4,591,388.00 1.52725903% 4,591,388.00 1.~~80302446~~86721529% Special Hazard 4,000,000.00 1.33054234% 4,000,000.00 1.~~57078814~~62671095% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description 5/1 CMT ARM Weighted Average Gross Coupon 5.~~017474~~007195% Weighted Average Net Coupon 4.~~322813~~320430% Weighted Average Pass-Through Rate 4.~~322813~~320430% Weighted Average Maturity(Stepdown Calculation ) ~~350~~348 Beginning Scheduled Collateral Loan Count ~~649~~619 Number Of Loans Paid In Full 2512 Ending Scheduled Collateral Loan Count ~~624~~607 Beginning Scheduled Collateral Balance ~~265~~252,~~135~~277,~~419~~682.4813 Ending Scheduled Collateral Balance ~~254~~245,~~649~~894,~~235~~944.7684 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~254~~245,~~649~~894,~~235~~944.7684 Monthly P &I Constant 1,~~108~~052,~~591~~669.7954 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 ~~254~~245,~~649~~894,~~235~~944.7684 Scheduled Principal 0.00 Unscheduled Principal 106,~~486~~382,~~183~~737.7229

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