8-K 1 bsa03ac5.txt MARCH 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): March 25, 2004 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, 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 March 25, 2004 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 March 25, 2004 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, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 4/2/2004 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 March 25, 2004 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 112/3029/032004 Distribution Date: 123/2625/032004 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% ~~136~~130,~~858~~616,~~200~~451.5364 ~~598~~571,~~754~~446.6398 12,~~370~~646,~~221~~082.9108 A-2 07384YMB9 SEN 5.00000% ~~164~~156,~~489~~987,~~301~~369.3031 ~~685~~654,~~372~~114.0904 13,~~646~~180,~~864~~315.0103 A-3 07384YMC7 SEN 1.~~71875~~69000% 4139,~~614~~716,~~260~~342.9000 5955,~~603~~933.7685 ~~416~~804,~~641~~590.2508 A-4 07384YMD5 IO 6.~~28125~~31000% 0.00 ~~217~~208,~~824~~841.6577 0.00 A-5 07384YNA0 SEN 4.75000% ~~146~~139,~~633~~946,~~786~~198.2819 ~~580~~553,~~425~~953.4070 12,~~468~~835,~~094~~087.9094 M-1 07384YME3 MEZ 5.25000% 3837,~~879~~106,~~459~~267.6698 ~~170~~162,~~097~~339.6492 ~~389~~751,~~260~~714.4712 M-2 07384YMF0 MEZ 2.~~81875~~79000% 3432,~~559~~983,~~628~~452.3298 8374,~~885~~130.1031 ~~346~~668,~~010~~192.3943 B 07384YMG8 SUB 4.~~36875~~34000% 12,~~960~~369,~~600~~501.6313 4843,~~757~~245.5115 ~~129~~250,~~761~~586.3147 C 07384YMM5 OC 0.00000% 12,~~035~~447,~~361~~708.2379 0.00 0.00 P 07384YML7 SEN 0.00000% 100.00 2124,~~725~~469.2833 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 ~~577~~552,~~030~~173,~~698~~392.8502 2,~~466~~348,~~446~~475.0605 511,~~766~~136,~~854~~568.2415

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~135~~127,~~487~~970,~~978~~369.6256 13,~~968~~217,~~976~~529.5406 0.00 A-2 0.00 ~~162~~153,~~842~~807,~~437~~054.2927 23,~~332~~834,~~236~~429.1007 0.00 A-3 0.00 4138,~~197~~911,~~619~~751.6592 ~~476~~860,~~245~~523.0193 0.00 A-4 0.00 0.00 ~~217~~208,~~824~~841.6577 0.00 A-5 0.00 ~~145~~137,~~165~~111,~~691~~110.3825 23,~~048~~389,~~520~~041.3064 0.00 M-1 0.00 3836,~~490~~354,~~199~~553.1986 ~~559~~914,~~358~~054.1104 0.00 M-2 0.00 3432,~~213~~315,~~617~~260.9255 ~~429~~742,~~895~~322.4974 0.00 B 0.00 12,~~830~~118,~~839~~914.3266 ~~178~~293,~~518~~831.8262 0.00 C 0.00 12,~~511~~910,~~082~~422.4966 0.00 0.00 P 0.00 100.00 2124,~~725~~469.2833 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 ~~571~~541,~~739~~499,~~565~~537.8673 813,~~233~~485,~~300~~043.3020 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 ~~136~~130,~~858~~616,~~200~~451.5364 0.00 12,~~370~~646,~~221~~082.9108 0.00 0.00 A-2 168,265,417.00 ~~164~~156,~~489~~987,~~301~~369.3031 0.00 13,~~646~~180,~~864~~315.0103 0.00 0.00 A-3 42,569,583.00 4139,~~614~~716,~~260~~342.9000 0.00 ~~416~~804,~~641~~590.2508 0.00 0.00 A-4 0.00 0.00 0.00 0.00 0.00 0.00 A-5 150,000,000.00 ~~146~~139,~~633~~946,~~786~~198.2819 0.00 12,~~468~~835,~~094~~087.9094 0.00 0.00 M-1 39,772,000.00 3837,~~879~~106,~~459~~267.6698 0.00 ~~389~~751,~~260~~714.4712 0.00 0.00 M-2 35,353,000.00 3432,~~559~~983,~~628~~452.3298 0.00 ~~346~~668,~~010~~192.3943 0.00 0.00 B 13,258,132.00 12,~~960~~369,~~600~~501.6313 0.00 ~~129~~250,~~761~~586.3147 0.00 0.00 C 0.19 12,~~035~~447,~~361~~708.2379 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 ~~577~~552,~~030~~173,~~698~~392.8502 0.00 511,~~766~~136,~~854~~568.2415 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 12,~~370~~646,~~221~~082.9108 ~~135~~127,~~487~~970,~~978~~369.6256 0.~~96777128~~91407407 12,~~370~~646,~~221~~082.9108 A-2 13,~~646~~180,~~864~~315.0103 ~~162~~153,~~842~~807,~~437~~054.2927 0.~~96777128~~91407407 13,~~646~~180,~~864~~315.0103 A-3 ~~416~~804,~~641~~590.2508 4138,~~197~~911,~~619~~751.6592 0.~~96777128~~91407407 ~~416~~804,~~641~~590.2508 A-4 0.00 0.00 0.00000000 0.00 A-5 12,~~468~~835,~~094~~087.9094 ~~145~~137,~~165~~111,~~691~~110.3825 0.~~96777128~~91407407 12,~~468~~835,~~094~~087.9094 M-1 ~~389~~751,~~260~~714.4712 3836,~~490~~354,~~199~~553.1986 0.~~96777128~~91407407 ~~389~~751,~~260~~714.4712 M-2 ~~346~~668,~~010~~192.3943 3432,~~213~~315,~~617~~260.9255 0.~~96777128~~91407407 ~~346~~668,~~010~~192.3943 B ~~129~~250,~~761~~586.3147 12,~~830~~118,~~839~~914.3266 0.~~96777128~~91407407 ~~129~~250,~~761~~586.3147 C 0.00 12,~~511~~910,~~082~~422.4966 53318,~~065~~014.~~73684211~~00000000 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 511,~~766~~136,~~854~~568.2415 ~~571~~541,~~739~~499,~~565~~537.8673 0.~~97033584~~91901355 511,~~766~~136,~~854~~568.2415

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 ~~977~~932.~~55857521~~97465457 0.00000000 918.~~78729936~~90058629 0.00000000 A-2 168,265,417.00 ~~977~~932.~~55857521~~97465462 0.00000000 918.~~78729937~~90058627 0.00000000 A-3 42,569,583.00 ~~977~~932.~~55857510~~97465470 0.00000000 918.~~78729930~~90058636 0.00000000 A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-5 150,000,000.00 ~~977~~932.~~55857520~~97465460 0.00000000 918.~~78729933~~90058627 0.00000000 M-1 39,772,000.00 ~~977~~932.~~55857538~~97465503 0.00000000 918.~~78729936~~90058634 0.00000000 M-2 35,353,000.00 ~~977~~932.~~55857551~~97465505 0.00000000 918.~~78729924~~90058637 0.00000000 B 13,258,132.00 ~~977~~932.~~55857537~~97465510 0.00000000 918.~~78729960~~90058645 0.00000000 C 0.19 ~~1449269631~~882677842.~~57895000~~10530000 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 918.~~78729936~~90058629 ~~967~~914.~~77127586~~07406829 0.~~96777128~~91407407 918.~~78729936~~90058629 A-2 0.00000000 918.~~78729937~~90058627 ~~967~~914.~~77127584~~07406829 0.~~96777128~~91407407 918.~~78729937~~90058627 A-3 0.00000000 918.~~78729930~~90058636 ~~967~~914.~~77127580~~07406833 0.~~96777128~~91407407 918.~~78729930~~90058636 A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-5 0.00000000 918.~~78729933~~90058627 ~~967~~914.~~77127587~~07406833 0.~~96777128~~91407407 918.~~78729933~~90058627 M-1 0.00000000 918.~~78729936~~90058634 ~~967~~914.~~77127602~~07406869 0.~~96777128~~91407407 918.~~78729936~~90058634 M-2 0.00000000 918.~~78729924~~90058637 ~~967~~914.~~77127599~~07406868 0.~~96777128~~91407407 918.~~78729924~~90058637 B 0.00000000 918.~~78729960~~90058645 ~~967~~914.~~77127577~~07406865 0.~~96777128~~91407407 918.~~78729960~~90058645 C 0.00000000 0.~~00000000~~00000001 535,~~065~~318,~~736~~014,000.~~84210000~~00000000 ~~7953065~~15318014.~~73684211~~00000000 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% ~~136~~130,~~858~~616,~~200~~451.5364 ~~598~~571,~~754~~446.6398 0.00 0.00 A-2 168,265,417.00 5.00000% ~~164~~156,~~489~~987,~~301~~369.3031 ~~685~~654,~~372~~114.0904 0.00 0.00 A-3 42,569,583.00 1.~~71875~~69000% 4139,~~614~~716,~~260~~342.9000 5955,~~603~~933.7685 0.00 0.00 A-4 0.00 6.~~28125~~31000% 4139,~~614~~716,~~260~~342.9000 ~~217~~208,~~824~~841.6576 0.00 0.00 A-5 150,000,000.00 4.75000% ~~146~~139,~~633~~946,~~786~~198.2819 ~~580~~553,~~425~~953.4070 0.00 0.00 M-1 39,772,000.00 5.25000% 3837,~~879~~106,~~459~~267.6698 ~~170~~162,~~097~~339.6492 0.00 0.00 M-2 35,353,000.00 2.~~81875~~79000% 3432,~~559~~983,~~628~~452.3298 8374,~~885~~130.1031 0.00 0.00 B 13,258,132.00 4.~~36875~~34000% 12,~~960~~369,~~600~~501.6313 4843,~~757~~245.5115 0.00 0.00 C 0.19 0.00000% 12,~~035~~447,~~361~~708.2379 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,~~444~~324,~~720~~005.7871 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 ~~598~~571,~~754~~446.6398 0.00 ~~135~~127,~~487~~970,~~978~~369.6256 A-2 0.00 0.00 ~~685~~654,~~372~~114.0904 0.00 ~~162~~153,~~842~~807,~~437~~054.2927 A-3 0.00 0.00 5955,~~603~~933.7685 0.00 4138,~~197~~911,~~619~~751.6592 A-4 0.00 0.00 ~~217~~208,~~824~~841.6577 0.00 4138,~~197~~911,~~619~~751.6592 A-5 0.00 0.00 ~~580~~553,~~425~~953.4070 0.00 ~~145~~137,~~165~~111,~~691~~110.3825 M-1 0.00 0.00 ~~170~~162,~~097~~339.6492 0.00 3836,~~490~~354,~~199~~553.1986 M-2 0.00 0.00 8374,~~885~~130.1031 0.00 3432,~~213~~315,~~617~~260.9255 B 0.00 0.00 4843,~~757~~245.5115 0.00 12,~~830~~118,~~839~~914.3266 C 0.00 0.00 0.00 0.00 12,~~511~~910,~~082~~422.4966 P 0.00 0.00 2124,~~725~~469.2833 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,~~466~~348,~~446~~475.0605 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% ~~977~~932.~~55857521~~97465457 4.~~27681879~~08176414 0.00000000 0.00000000 A-2 168,265,417.00 5.00000% ~~977~~932.~~55857521~~97465462 43.~~07316074~~88739440 0.00000000 0.00000000 A-3 42,569,583.00 1.~~71875~~69000% ~~977~~932.~~55857510~~97465470 1.~~40014902~~31393934 0.00000000 0.00000000 A-4 0.00 6.~~28125~~31000% ~~977~~932.~~55857510~~97465470 54.~~11690824~~90589161 0.00000000 0.00000000 A-5 150,000,000.00 4.75000% ~~977~~932.~~55857520~~97465460 3.~~86950267~~69302467 0.00000000 0.00000000 M-1 39,772,000.00 5.25000% ~~977~~932.~~55857538~~97465503 4.~~27681887~~08176406 0.00000000 0.00000000 M-2 35,353,000.00 2.~~81875~~79000% ~~977~~932.~~55857551~~97465505 2.~~37278590~~09686052 0.00000000 0.00000000 B 13,258,132.00 4.~~36875~~34000% ~~977~~932.~~55857537~~97465510 3.~~67755503~~26178303 0.00000000 0.00000000 C 0.19 0.00000% ~~449269631~~882677842.~~57895000~~10530000 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.~~27681879~~08176414 0.00000000 ~~967~~914.~~77127586~~07406829 A-2 0.00000000 0.00000000 43.~~07316074~~88739440 0.00000000 ~~967~~914.~~77127584~~07406829 A-3 0.00000000 0.00000000 1.~~40014902~~31393934 0.00000000 ~~967~~914.~~77127580~~07406833 A-4 0.00000000 0.00000000 54.~~11690824~~90589184 0.00000000 ~~967~~914.~~77127580~~07406833 A-5 0.00000000 0.00000000 3.~~86950267~~69302467 0.00000000 ~~967~~914.~~77127587~~07406833 M-1 0.00000000 0.00000000 4.~~27681887~~08176406 0.00000000 ~~967~~914.~~77127602~~07406869 M-2 0.00000000 0.00000000 2.~~37278590~~09686052 0.00000000 ~~967~~914.~~77127599~~07406868 B 0.00000000 0.00000000 3.~~67755503~~26178303 0.00000000 ~~967~~914.~~77127577~~07406865 C 0.00000000 0.00000000 0.00000000 0.00000000 ~~953065736~~318014000.~~84210000~~00000000 P 0.00000000 0.00000000 ~~217252~~244693.~~80000000~~30000000 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 813,~~333~~596,~~300~~672.1878 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~113~~105,~~696~~873.6588 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 813,~~446~~702,~~996~~546.8366 Withdrawals Reimbursement for Servicer Advances 93102,~~481~~467.8336 Payment of Service Fee ~~120~~115,~~214~~036.7010 Payment of Interest and Principal 813,~~233~~485,~~300~~043.3020 Total Withdrawals (Pool Distribution Amount) 813,~~446~~702,~~996~~546.8366 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~120~~115,~~214~~036.7010 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~120~~115,~~214~~036.7010

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 02 0 0 02 0199,417.0085 0.00 0.00 0199,417.0085 30 Days 7365 0 0 0 7365 1412,~~746~~956,~~684~~549.3117 0.00 0.00 0.00 1412,~~746~~956,~~684~~549.3117 60 Days 1110 0 0 0 1110 21,~~224~~012,~~231~~893.8095 0.00 0.00 0.00 21,~~224~~012,~~231~~893.8095 90 Days 37 0 0 0 37 ~~318~~1,~~114~~118,545.9842 0.00 0.00 0.00 ~~318~~1,~~114~~118,545.9842 120 Days 23 0 0 0 23 ~~213~~723,~~057~~182.1346 0.00 0.00 0.00 ~~213~~723,~~057~~182.1346 150 Days 03 0 01 0 04 0753,228.0078 0.00 0136,343.0009 0.00 0889,571.0087 180+ Days 01 0 0 0 01 074,213.0010 0.00 0.00 0.00 074,213.0010 Totals 89 02 01 0 8992 1716,~~502~~638,~~088~~612.2288 0199,417.0085 0136,343.0009 0.00 1716,~~502~~974,~~088~~373.2282 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~~068166% 0.000000% 0.000000% 0.~~000000~~068166% 0.~~000000~~036785% 0.000000% 0.000000% 0.~~000000~~036785% 30 Days 2.~~387181~~215406% 0.000000% 0.000000% 0.000000% 2.~~387181~~215406% 2.~~576479~~389989% 0.000000% 0.000000% 0.000000% 2.~~576479~~389989% 60 Days 0.~~359712~~340832% 0.000000% 0.000000% 0.000000% 0.~~359712~~340832% 0.~~388609~~186840% 0.000000% 0.000000% 0.000000% 0.~~388609~~186840% 90 Days 0.~~098103~~238582% 0.000000% 0.000000% 0.000000% 0.~~098103~~238582% 0.~~055580~~206329% 0.000000% 0.000000% 0.000000% 0.~~055580~~206329% 120 Days 0.~~065402~~102249% 0.000000% 0.000000% 0.000000% 0.~~065402~~102249% 0.~~037224~~133400% 0.000000% 0.000000% 0.000000% 0.~~037224~~133400% 150 Days 0.~~000000~~102249% 0.000000% 0.~~000000~~034083% 0.000000% 0.~~000000~~136333% 0.~~000000~~138942% 0.000000% 0.~~000000~~025150% 0.000000% 0.~~000000~~164092% 180+ Days 0.~~000000~~034083% 0.000000% 0.000000% 0.000000% 0.~~000000~~034083% 0.~~000000~~013689% 0.000000% 0.000000% 0.000000% 0.~~000000~~013689% Totals 23.~~910399~~033401% 0.~~000000~~068166% 0.~~000000~~034083% 0.000000% 23.~~910399~~135651% 3.~~057892~~069190% 0.~~000000~~036785% 0.~~000000~~025150% 0.000000% 3.~~057892~~131125%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~113~~105,~~696~~873.6588

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.~~323388~~306185% Weighted Average Net Coupon 6.~~073388~~056185% Weighted Average Pass-Through Rate 6.~~073388~~056185% Weighted Average Maturity(Stepdown Calculation ) ~~332~~329 Beginning Scheduled Collateral Loan Count 32,~~085~~974 Number Of Loans Paid In Full 2740 Ending Scheduled Collateral Loan Count 32,~~058~~934 Beginning Scheduled Collateral Balance ~~577~~552,~~030~~173,~~598~~292.8602 Ending Scheduled Collateral Balance ~~571~~541,~~739~~499,~~465~~437.8775 Ending Actual Collateral Balance at 3029-~~Nov~~Feb-~~2003~~2004 ~~572~~542,~~357~~117,~~985~~451.4297 Monthly P &I Constant 3,~~747~~597,~~973~~493.3254 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 ~~571~~541,~~739~~499,~~465~~437.8775 Scheduled Principal ~~707~~695,~~316~~737.5985 Unscheduled Principal 49,~~583~~978,~~816~~116.4042 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~475~~462,~~721~~713.2687 Overcollateralized reduction Amount 0.00 Specified O/C Amount 7,365,227.00 Overcollateralized Amount 12,~~511~~910,~~082~~422.4966 Overcollateralized Deficiency Amount 54,~~854~~454,~~144~~804.5134 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~475~~462,~~721~~713.2687 Excess Cash Amount ~~497~~487,~~446~~183.5421

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.~~002884~~007952%

Filing Compare · ASSET-BACKED CERTIFICATES SERIES 2003-AC5