8-K 1 ffm03ff2_dec.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 FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2003-FF2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-104153-05 Pooling and Servicing Agreement) (Commission 54-2116907 (State or other File Number) 54-2116908 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 FIRST FRANKLIN MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2003-FF2 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-FF2 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2003-FF2 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: 12/31/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2003-FF2 Trust, relating to the December 26, 2003 distribution. EX-99.1

First Franklin Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 FFM Series: 2003-FF2 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 32027NCV1 SEN 2.57000% ~~515~~502,~~900~~041,~~455~~571.8499 1,~~104~~075,~~886~~205.8170 410,~~885~~306,~~792~~251.8102 A-2 32027NCW9 SEN 2.47000% ~~230~~222,~~257~~263,~~312~~697.7937 ~~473~~457,~~946~~492.3078 27,~~082~~055,~~213~~955.2411 M-1 32027NCX7 MEZ 2.90000% 39,351,000.00 95,098.25 0.00 M-2 32027NCY5 MEZ 2.~~77000~~76875% 34,978,000.00 8683,~~123~~394.6160 0.00 M-3A 32027NCZ2 MEZ 3.~~12000~~11875% 4,968,000.00 13,~~777~~342.9201 0.00 M-3F 32027NDA6 MEZ 4.27000% 5,963,000.00 21,218.34 0.00 M-4A 32027NDB4 MEZ 4.~~12000~~11875% 3,745,000.00 13,~~715~~282.0240 0.00 M-4F 32027NDC2 MEZ 4.81000% 5,000,000.00 20,041.67 0.00 M-5A 32027NDD0 MEZ 4.~~72000~~71875% 3,468,000.00 14,~~550~~091.1976 0.00 M-5F 32027NDE8 MEZ 5.34000% 7,463,000.00 33,210.35 0.00 R FFM3FF2R1 SEN 0.00000% 0.00 0.00 0.00 C FFM03FF2C SEN 0.00000% 6,558,451.90 2,~~697~~604,~~609~~614.3086 0.00 P FFM03FF2P SEN 0.00000% 100.00 ~~138~~400,~~766~~175.3017 0.00 DIV CERT FFM03FF2DIV SEN 0.00000% 0.00 0.00 0.00 Totals ~~857~~835,~~652~~799,~~320~~821.5326 4,~~712~~831,~~944~~167.0689 617,~~968~~362,~~006~~206.0513

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~511~~491,~~014~~735,~~663~~320.0398 511,~~990~~381,~~679~~456.6272 0.00 A-2 0.00 ~~228~~215,~~175~~207,~~099~~742.5526 27,~~556~~513,~~159~~447.5489 0.00 M-1 0.00 39,351,000.00 95,098.25 0.00 M-2 0.00 34,978,000.00 8683,~~123~~394.6160 0.00 M-3A 0.00 4,968,000.00 13,~~777~~342.9201 0.00 M-3F 0.00 5,963,000.00 21,218.34 0.00 M-4A 0.00 3,745,000.00 13,~~715~~282.0240 0.00 M-4F 0.00 5,000,000.00 20,041.67 0.00 M-5A 0.00 3,468,000.00 14,~~550~~091.1976 0.00 M-5F 0.00 7,463,000.00 33,210.35 0.00 R 0.00 0.00 0.00 0.00 C 0.00 6,558,451.90 2,~~697~~604,~~609~~614.3086 0.00 P 0.00 100.00 ~~138~~400,~~766~~175.3017 0.00 DIV CERT 0.00 0.00 0.00 0.00 Totals 0.00 ~~850~~818,~~684~~437,~~314~~615.4814 1122,~~680~~193,~~950~~374.1102 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-1 528,290,000.00 ~~515~~502,~~900~~041,~~455~~571.8499 0.00 410,~~885~~306,~~792~~251.8102 0.00 0.00 A-2 234,676,000.00 ~~230~~222,~~257~~263,~~312~~697.7937 0.00 27,~~082~~055,~~213~~955.2411 0.00 0.00 M-1 39,351,000.00 39,351,000.00 0.00 0.00 0.00 0.00 M-2 34,978,000.00 34,978,000.00 0.00 0.00 0.00 0.00 M-3A 4,968,000.00 4,968,000.00 0.00 0.00 0.00 0.00 M-3F 5,963,000.00 5,963,000.00 0.00 0.00 0.00 0.00 M-4A 3,745,000.00 3,745,000.00 0.00 0.00 0.00 0.00 M-4F 5,000,000.00 5,000,000.00 0.00 0.00 0.00 0.00 M-5A 3,468,000.00 3,468,000.00 0.00 0.00 0.00 0.00 M-5F 7,463,000.00 7,463,000.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 C 6,558,152.94 6,558,451.90 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 DIV CERT 0.00 0.00 0.00 0.00 0.00 0.00 Totals 874,460,252.94 ~~857~~835,~~652~~799,~~320~~821.5326 0.00 617,~~968~~362,~~006~~206.0513 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-1 410,~~885~~306,~~792~~251.8102 ~~511~~491,~~014~~735,~~663~~320.0398 0.~~96729952~~93080566 410,~~885~~306,~~792~~251.8102 A-2 27,~~082~~055,~~213~~955.2411 ~~228~~215,~~175~~207,~~099~~742.5526 0.~~97229840~~91704197 27,~~082~~055,~~213~~955.2411 M-1 0.00 39,351,000.00 1.00000000 0.00 M-2 0.00 34,978,000.00 1.00000000 0.00 M-3A 0.00 4,968,000.00 1.00000000 0.00 M-3F 0.00 5,963,000.00 1.00000000 0.00 M-4A 0.00 3,745,000.00 1.00000000 0.00 M-4F 0.00 5,000,000.00 1.00000000 0.00 M-5A 0.00 3,468,000.00 1.00000000 0.00 M-5F 0.00 7,463,000.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 C 0.00 6,558,451.90 1.00004559 0.00 P 0.00 100.00 1.00000000 0.00 DIV CERT 0.00 0.00 0.00000000 0.00 Totals 617,~~968~~362,~~006~~206.0513 ~~850~~818,~~684~~437,~~314~~615.4814 0.~~97281073~~93593461 617,~~968~~362,~~006~~206.0513

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 528,290,000.00 ~~976~~950.~~54783517~~31435763 0.00000000 919.~~24831591~~50869981 0.00000000 A-2 234,676,000.00 ~~981~~947.~~17111588~~10876856 0.00000000 830.~~87271489~~06679469 0.00000000 M-1 39,351,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 34,978,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3A 4,968,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3F 5,963,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4A 3,745,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4F 5,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5A 3,468,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5F 7,463,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 6,558,152.94 1000.04558601 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 DIV CERT 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 919.~~24831591~~50869981 ~~967~~930.~~29951926~~80565784 0.~~96729952~~93080566 919.~~24831591~~50869981 A-2 0.00000000 830.~~87271489~~06679469 ~~972~~917.~~29840099~~04197387 0.~~97229840~~91704197 830.~~87271489~~06679469 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 1,000.04558601 1.00004559 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 DIV CERT 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-1 528,290,000.00 2.57000% ~~515~~502,~~900~~041,~~455~~571.8499 1,~~104~~075,~~886~~205.8170 0.00 0.00 A-2 234,676,000.00 2.47000% ~~230~~222,~~257~~263,~~312~~697.7937 ~~473~~457,~~946~~492.3078 0.00 0.00 M-1 39,351,000.00 2.90000% 39,351,000.00 95,098.25 0.00 0.00 M-2 34,978,000.00 2.~~77000~~76875% 34,978,000.00 8683,~~123~~394.6160 0.00 0.00 M-3A 4,968,000.00 3.~~12000~~11875% 4,968,000.00 13,~~777~~342.9201 0.00 0.00 M-3F 5,963,000.00 4.27000% 5,963,000.00 21,218.34 0.00 0.00 M-4A 3,745,000.00 4.~~12000~~11875% 3,745,000.00 13,~~715~~282.0240 0.00 0.00 M-4F 5,000,000.00 4.81000% 5,000,000.00 20,041.67 0.00 0.00 M-5A 3,468,000.00 4.~~72000~~71875% 3,468,000.00 14,~~550~~091.1976 0.00 0.00 M-5F 7,463,000.00 5.34000% 7,463,000.00 33,210.35 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 C 6,558,152.94 0.00000% 6,558,451.90 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 DIV CERT 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 874,460,252.94 1,~~876~~826,~~568~~377.4686 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 1,~~104~~075,~~886~~205.8170 0.00 ~~511~~491,~~014~~735,~~663~~320.0398 A-2 0.00 0.00 ~~473~~457,~~946~~492.3078 0.00 ~~228~~215,~~175~~207,~~099~~742.5526 M-1 0.00 0.00 95,098.25 0.00 39,351,000.00 M-2 0.00 0.00 8683,~~123~~394.6160 0.00 34,978,000.00 M-3A 0.00 0.00 13,~~777~~342.9201 0.00 4,968,000.00 M-3F 0.00 0.00 21,218.34 0.00 5,963,000.00 M-4A 0.00 0.00 13,~~715~~282.0240 0.00 3,745,000.00 M-4F 0.00 0.00 20,041.67 0.00 5,000,000.00 M-5A 0.00 0.00 14,~~550~~091.1976 0.00 3,468,000.00 M-5F 0.00 0.00 33,210.35 0.00 7,463,000.00 R 0.00 0.00 0.00 0.00 0.00 C 0.00 0.00 2,~~697~~604,~~609~~614.3086 0.00 6,558,451.90 P 0.00 0.00 ~~138~~400,~~766~~175.3017 0.00 100.00 DIV CERT 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 4,~~712~~831,~~944~~167.0689 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-1 528,290,000.00 2.57000% ~~976~~950.~~54783517~~31435763 2.~~09143995~~03525658 0.00000000 0.00000000 A-2 234,676,000.00 2.47000% ~~981~~947.~~17111588~~10876856 21.~~01957720~~94946556 0.00000000 0.00000000 M-1 39,351,000.00 2.90000% 1000.00000000 2.41666667 0.00000000 0.00000000 M-2 34,978,000.00 2.~~77000~~76875% 1000.00000000 2.~~46222225~~38420150 0.00000000 0.00000000 M-3A 4,968,000.00 3.~~12000~~11875% 1000.00000000 2.~~77333333~~68558977 0.00000000 0.00000000 M-3F 5,963,000.00 4.27000% 1000.00000000 3.55833305 0.00000000 0.00000000 M-4A 3,745,000.00 4.~~12000~~11875% 1000.00000000 3.~~66222163~~54670227 0.00000000 0.00000000 M-4F 5,000,000.00 4.81000% 1000.00000000 4.00833400 0.00000000 0.00000000 M-5A 3,468,000.00 4.~~72000~~71875% 1000.00000000 4.~~19555652~~06336794 0.00000000 0.00000000 M-5F 7,463,000.00 5.34000% 1000.00000000 4.45000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 C 6,558,152.94 0.00000% 1000.04558601 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 DIV CERT 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 2.~~09143995~~03525658 0.00000000 ~~967~~930.~~29951926~~80565784 A-2 0.00000000 0.00000000 21.~~01957720~~94946556 0.00000000 ~~972~~917.~~29840099~~04197387 M-1 0.00000000 0.00000000 2.41666667 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~46222225~~38420150 0.00000000 1000.00000000 M-3A 0.00000000 0.00000000 2.~~77333333~~68558977 0.00000000 1000.00000000 M-3F 0.00000000 0.00000000 3.55833305 0.00000000 1000.00000000 M-4A 0.00000000 0.00000000 3.~~66222163~~54670227 0.00000000 1000.00000000 M-4F 0.00000000 0.00000000 4.00833400 0.00000000 1000.00000000 M-5A 0.00000000 0.00000000 4.~~19555652~~06336794 0.00000000 1000.00000000 M-5F 0.00000000 0.00000000 4.45000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 ~~411~~397.~~33674751~~15677323 0.00000000 1000.04558601 P 0.00000000 0.00000000 ~~1387663~~4001751.~~00000000~~70000000 0.00000000 1000.00000000 DIV CERT 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 1122,~~903~~163,~~827~~041.2416 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) 0(17,413.0033) Prepayment Penalties ~~138~~400,~~766~~175.3017 Total Deposits 1222,~~042~~545,~~593~~803.5400 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~361~~352,~~643~~428.4398 Payment of Interest and Principal 1122,~~680~~193,~~950~~374.1102 Total Withdrawals (Pool Distribution Amount) 1222,~~042~~545,~~593~~803.5400 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~357~~348,~~355~~249.1492 WELLS FARGO 4,~~288~~179.2906 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~361~~352,~~643~~428.4398

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 47 01 0 48 ~~454~~982,~~873~~066.1858 0153,578.0050 0.00 ~~454~~1,~~873~~135,645.1808 30 Days 4956 0 0 0 4956 78,~~460~~303,~~923~~472.3465 0.00 0.00 0.00 78,~~460~~303,~~923~~472.3465 60 Days 820 2 0 1 0 922 24,~~008~~114,~~657~~211.0293 215,407.70 0.00 ~~42,344.34~~ 0.00 24,~~051~~329,~~001~~619.3663 90 Days 26 36 2430 02 2944 46727,~~989~~966.4850 ~~254~~562,~~444~~814.4712 56,~~190~~177,~~821~~612.5760 0294,400.00 57,~~492~~762,~~255~~793.5222 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 5982 715 2531 02 91130 913,~~516~~145,~~569~~651.8408 ~~709~~1,~~317~~760,288.6540 56,~~233~~331,~~165~~191.9110 0294,400.00 1521,~~459~~531,~~053~~530.4058 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.~~092102~~166667% 0.~~000000~~023810% 0.000000% 0.~~092102~~190476% 0.~~053471~~119993% 0.~~000000~~018765% 0.000000% 0.~~053471~~138758% 30 Days 1.~~128252~~333333% 0.000000% 0.000000% 0.000000% 1.~~128252~~333333% 01.~~877050~~014552% 0.000000% 0.000000% 0.000000% 01.~~877050~~014552% 60 Days 0.~~184204~~476190% 0.~~000000~~047619% 0.~~023026~~000000% 0.000000% 0.~~207230~~523810% 0.~~236122~~502691% 0.~~000000~~026319% 0.~~004978~~000000% 0.000000% 0.~~241100~~529010% 90 Days 0.~~046051~~142857% 0.~~069077~~142857% 0.~~552613~~714286% 0.~~000000~~047619% 01.~~667741~~047619% 0.~~005524~~088946% 0.~~029911~~068767% 0.~~610194~~754806% 0.~~000000~~035971% 0.~~645628~~948489% 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 1.~~358508~~952381% 0.~~161179~~357143% 0.~~575639~~738095% 0.~~000000~~047619% 23.~~095326~~095238% 1.~~118696~~606189% 0.~~083382~~215079% 0.~~615171~~773570% 0.~~000000~~035971% 12.~~817249~~630809%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~89,819~~0.5700

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.~~919214~~905687% Weighted Average Net Coupon 6.~~419214~~405687% Weighted Average Pass-Through Rate 6.~~413214~~399687% Weighted Average Maturity(Stepdown Calculation ) ~~352~~350 Beginning Scheduled Collateral Loan Count 4,~~378~~275 Number Of Loans Paid In Full 3575 Ending Scheduled Collateral Loan Count 4,~~343~~200 Beginning Scheduled Collateral Balance ~~857~~835,~~652~~799,~~320~~821.5226 Ending Scheduled Collateral Balance ~~850~~818,~~684~~437,~~314~~615.4713 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~850~~818,~~684~~437,~~314~~615.4713 Monthly P &I Constant 5,~~223~~078,~~870~~995.5450 Special Servicing Fee 0.00 Prepayment Penalties ~~138~~400,~~766~~175.3017 Realized Loss Amount 017,413.0033 Cumulative Realized Loss 017,413.0033 Ending Scheduled Balance for Premium Loans ~~850~~818,~~684~~437,~~314~~615.4713 Scheduled Principal ~~278~~269,~~637~~185.3481 Unscheduled Principal 617,~~689~~093,~~368~~020.7132

Miscellaneous Reporting Credit Enhancement Percentage 10.~~01052~~27225% ~~Extra~~Step ~~Principal~~Down ~~Distribution~~Do ~~Amount~~Not ~~0.00~~Stepdown ~~Overcollaterization~~Trigger Event Not Triggered Overcollaterized Target Amount 6,558,451.90 Overcollaterized ~~Deficiency Amount 0.00 Overcollaterized~~ Increase Amount 017,413.0033 Overcollaterized Reduction Amount 0.00 ~~Overcollaterized~~Overcollaterization ~~Target~~ Amount 6,558,451.90 Specified Overcollaterization Amount 6,558,451.90 ~~Step~~Overcollaterized ~~Down~~Deficiency DoAmount ~~Not~~17,413.33 ~~Stepdown~~Extra ~~Trigger~~Principal ~~Event~~Distribution ~~Not~~Amount ~~Triggered Dividend Withdrawal 0~~17,413.0033 ~~Dividend~~Excess ~~Deposit~~Cash 92,~~397~~622,028.0019 Beg Dividend Account Balance 2847,~~951~~533.0785 Dividend Deposit 8,950.99 Dividend Withdrawal 0.00 End Dividend Account Balance 3856,~~348~~484.0784 ~~Excess~~Soldier/Sailor ~~Cash~~Interest ~~2,697,609~~Shortfall 0.3000

Group Level Collateral Statement Group GROUP 1 GROUP 2 GROUP 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 8.~~014750~~008872 76.~~007526~~993035 76.~~029704~~987606 Weighted Average Net Rate 7.~~514750~~508872 6.~~507526~~493035 6.~~529704~~487607 Weighted Average Maturity ~~352~~350 ~~352~~350 ~~353~~351 Beginning Loan Count ~~389~~382 3,~~394~~317 6156 Loans Paid In Full 38 2752 1 Ending Loan Count ~~386~~374 3,~~367~~265 6055 Beginning Scheduled Balance 44,~~892~~046,~~175~~317.9984 ~~548~~535,~~208~~195,~~765~~739.3162 2220,~~478~~405,~~795~~929.3500 Ending scheduled Balance 4443,~~517~~027,~~227~~391.9205 ~~543~~525,~~697~~905,~~920~~781.5760 2219,~~109~~653,~~669~~674.2279 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~341~~335,~~160~~408.3319 3,~~355~~269,~~862~~691.5982 ~~151~~136,~~195~~955.8937 Scheduled Principal 41,~~327~~440.3642 ~~154~~150,~~539~~823.8402 1918,~~513~~131.1654 Unscheduled Principal ~~333~~977,~~620~~486.7137 49,~~356~~139,~~304~~135.9000 ~~349~~734,~~612~~122.9767 Scheduled Interest ~~299~~293,~~832~~967.9777 3,~~201~~118,~~322~~868.7580 ~~131~~118,~~682~~823.7383 Servicing Fees 18,~~705~~352.0764 ~~228~~222,~~420~~998.3323 98,~~366~~502.1746 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~224~~220.4825 2,~~741~~676.0502 ~~112~~102.4004 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~280~~275,~~903~~394.4288 2,~~970~~893,~~161~~194.3755 ~~122~~110,~~204~~219.1633 Realized Loss Amount 0.00 012,970.0039 0.00 Cumulative Realized Loss 0.00 012,970.0039 0.00 Percentage of Cumulative Losses 0.000000 0.000023 0.000000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.~~508750~~502872 6.~~501526~~487035 6.~~523704~~481606

Group Level Collateral Statement Group GROUP 4 Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 6.~~505791~~494886 6.~~919214~~905687 Weighted Average Net Rate 65.~~005791~~994886 6.~~419214~~405687 Weighted Average Maturity ~~353~~351 ~~352~~350 Beginning Loan Count ~~534~~520 4,~~378~~275 Loans Paid In Full 414 3575 Ending Loan Count ~~530~~506 4,~~343~~200 Beginning Scheduled Balance ~~242~~236,~~072~~151,~~583~~834.8780 ~~857~~835,~~652~~799,~~320~~821.5226 Ending scheduled Balance ~~240~~229,~~359~~850,~~496~~767.7669 ~~850~~818,~~684~~437,~~314~~615.4713 Record Date 0911/30/2003 0911/30/2003 Principal And Interest Constant 1,~~375~~336,~~651~~940.7312 5,~~223~~078,~~870~~995.5450 Scheduled Principal 6358,~~256~~790.9883 ~~278~~269,~~637~~185.3481 Unscheduled Principal 16,~~649~~242,~~830~~276.1328 617,~~689~~093,~~368~~020.7132 Scheduled Interest 1,~~312~~278,~~394~~149.7529 4,~~945~~809,~~233~~809.2069 Servicing Fees ~~100~~98,~~863~~396.5759 ~~357~~348,~~355~~249.1492 Master Servicing Fees 0.00 0.00 Trustee Fee 1,~~210~~180.3675 4,~~288~~179.2906 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 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 1,~~210~~178,~~320~~571.8295 4,~~583~~457,~~589~~380.7771 Realized Loss Amount 04,442.0094 017,413.0033 Cumulative Realized Loss 04,442.0094 017,413.0033 Percentage of Cumulative Losses 0.000018 0.000020 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 5.~~999791~~988886 6.~~413214~~399687

Filing Compare · FIRST FRANKLIN MORTGAGE LOAN TRUST 2003-FF2