8-K 1 prm03001_nov.txt NOVEMBER 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): November 26, 2004 PRIME MORTGAGE TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-31 Pooling and Servicing Agreement) (Commission 54-2116958 (State or other File Number) 54-2126959 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On November 26, 2004 a distribution was made to holders of PRIME MORTGAGE TRUST, Mortgage Pass-Through Certificates, Series 2003-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the November 26, 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. PRIME MORTGAGE TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Registrant) 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: 12/3/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the November 26, 2004 distribution. EX-99.1

Prime Mortgage ~~Trust~~Pass Through Certificates Mortgage Pass-Through Certificates Record Date: 810/31/2004 Distribution Date: 911/2726/2004 PRM Series: 2003-1 Contact: Customer Service - CTSLink Wells Fargo Bank, 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 74160MAA0 SEN 4.75000% 0.00 0.00 0.00 A-2 74160MAB8 SEN 2.~~11500~~43250% 6,~~468~~174,~~462~~890.5493 1112,~~400~~517.6602 ~~130~~241,~~622~~759.2611 A-3 74160MAC6 SEN 0.75000% 0.00 2120,~~647~~664.1872 0.00 A-4 74160MAD4 SEN 5.~~88500~~56750% 0.00 3128,~~722~~648.4292 0.00 A-5 74160MAE2 SEN 4.75000% 5653,~~197~~646,~~026~~520.1831 ~~222~~212,~~446~~350.5679 12,~~134~~100,~~826~~366.4670 A-6 74160MAF9 SEN 5.50000% 1412,~~724~~923,~~128~~774.7316 6759,~~485~~233.5996 ~~882~~2,~~159~~721,807.5374 A-7 74160MAG7 SEN 5.00000% 70,775,143.00 294,896.4241 0.00 A-8 74160MAH5 SEN 2.~~18500~~50250% 11,795,857.00 2124,~~478~~599.2927 0.00 A-9 74160MAJ1 SEN 65.~~31500~~99750% 0.00 6258,~~075~~954.7071 0.00 A-10 74160MAK8 SEN 5.50000% 1117,~~765,766~~865.5708 ~~8,093~~540.1021 ~~652~~117,~~113~~865.4508 A-11 74160MAL6 SEN 5.45000% 13,375,000.00 60,744.79 0.00 A-12 74160MAM4 SEN 23.~~69188~~04000% 0.00 0.00 0.00 A-13 74160MAN2 SEN 1110.~~67786~~91200% 0.00 0.00 0.00 A-14 74160MAW2 SEN 0.25000% 0.00 3,270.83 0.00 A-15 74160MAX0 SEN 5.25000% 15,700,000.00 68,687.5049 0.00 PO 74160MAP7 PO 0.00000% ~~560~~551,~~110~~262.6937 0.00 1,~~843~~007.6487 X 74160MAQ5 SEN 0.~~22229~~21795% 0.00 3735,~~378~~500.5452 0.00 R-I PRM0301R1 SEN 5.50000% 0.00 0.00 0.00 R-II PRM0301R2 SEN 5.50000% 0.00 0.00 0.00 B-1 74160MAT9 SUB 5.50000% 5,~~295~~283,~~927~~398.10 24,~~273~~215.0057 6,~~240~~336.0992 B-2 74160MAU6 SUB 5.50000% 1,~~879~~874,~~390~~944.2806 8,~~613~~593.8749 2,~~214~~248.4581 B-3 74160MAV4 SUB 5.50000% 1,~~367~~363,~~008~~774.1107 6,~~265~~250.4563 1,~~610~~635.7271 B-4 74160MAY8 SUB 5.50000% ~~683~~681,~~504~~887.0503 3,~~132~~125.7332 ~~805~~817.3686 B-5 74160MAZ5 SUB 5.50000% ~~512~~511,~~382~~169.1899 2,~~348~~342.4286 ~~603~~613.7310 B-6 74160MBA9 SUB 5.50000% ~~684~~682,~~252~~633.5374 3,~~136~~128.1674 ~~806~~818.2475 Totals ~~201~~195,~~783~~458,~~958~~119.9684 ~~959~~928,~~097~~266.2125 25,~~813~~195,~~845~~277.9365

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 0.00 0.00 0.00 A-2 0.00 65,~~337~~933,~~840~~131.2881 ~~142~~254,~~022~~276.9213 0.00 A-3 0.00 0.00 2120,~~647~~664.1872 0.00 A-4 0.00 0.00 3128,~~722~~648.4292 0.00 A-5 0.00 5551,~~062~~546,~~199~~153.7262 12,~~357~~312,~~273~~717.0249 0.00 A-6 0.00 1310,~~841~~201,~~969~~966.2042 ~~949~~2,~~645~~781,041.1270 0.00 A-7 0.00 70,775,143.00 294,896.4241 0.00 A-8 0.00 11,795,857.00 2124,~~478~~599.2927 0.00 A-9 0.00 0.00 6258,~~075~~954.7071 0.00 A-10 0.00 ~~1,113,653~~0.1200 ~~660~~118,~~206~~405.5529 0.00 A-11 0.00 13,375,000.00 60,744.79 0.00 A-12 0.00 0.00 0.00 0.00 A-13 0.00 0.00 0.00 0.00 A-14 0.00 0.00 3,270.83 0.00 A-15 0.00 15,700,000.00 68,687.5049 0.00 PO 0.00 ~~558~~550,~~267~~254.0550 1,~~843~~007.6487 0.00 X 0.00 0.00 3735,~~378~~500.5452 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 B-1 0.00 5,~~289~~277,~~687~~061.0117 30,~~513~~552.0949 0.00 B-2 0.00 1,~~877~~872,~~175~~695.8425 10,~~828~~842.3230 0.00 B-3 0.00 1,~~365~~362,~~397~~138.3935 7,~~876~~886.1734 0.00 B-4 0.00 ~~682~~681,~~698~~069.6918 3,~~938~~943.0918 0.00 B-5 0.00 ~~511~~510,~~778~~556.4589 2,~~952~~955.1596 0.00 B-6 0.00 ~~683~~681,~~446~~814.2999 3,~~942~~947.4049 0.00 Totals 0.00 ~~198~~190,~~970~~262,~~113~~842.0418 36,~~772~~123,~~943~~543.1490 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 4,750,000.00 0.00 0.00 0.00 0.00 0.00 A-2 13,250,000.00 6,~~468~~174,~~462~~890.5493 10,~~488~~324.9688 ~~120~~231,~~133~~434.3024 0.00 0.00 A-3 0.00 0.00 0.00 0.00 0.00 0.00 A-4 0.00 0.00 0.00 0.00 0.00 0.00 A-5 110,364,000.00 5653,~~197~~646,~~026~~520.1831 9189,~~126~~700.5199 12,~~043~~010,~~699~~665.9571 0.00 0.00 A-6 23,373,000.00 1412,~~724~~923,~~128~~774.7316 70116,~~837~~241.3706 ~~811~~2,~~322~~605,566.1668 0.00 0.00 A-7 70,775,143.00 70,775,143.00 0.00 0.00 0.00 0.00 A-8 11,795,857.00 11,795,857.00 0.00 0.00 0.00 0.00 A-9 0.00 0.00 0.00 0.00 0.00 0.00 A-10 50,000,000.00 1117,~~765,766~~865.5708 525,~~364~~033.6870 ~~599~~112,~~748~~831.7738 0.00 0.00 A-11 13,375,000.00 13,375,000.00 0.00 0.00 0.00 0.00 A-12 15,655,750.00 0.00 0.00 0.00 0.00 0.00 A-13 7,116,250.00 0.00 0.00 0.00 0.00 0.00 A-14 0.00 0.00 0.00 0.00 0.00 0.00 A-15 15,700,000.00 15,700,000.00 0.00 0.00 0.00 0.00 PO 699,845.00 ~~560~~551,~~110~~262.6937 ~~987~~988.0928 ~~856~~19.5559 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 B-1 5,385,000.00 5,~~295~~283,~~927~~398.10 6,~~240~~336.0992 0.00 0.00 0.00 B-2 1,911,000.00 1,~~879~~874,~~390~~944.2806 2,~~214~~248.4581 0.00 0.00 0.00 B-3 1,390,000.00 1,~~367~~363,~~008~~774.1107 1,~~610~~635.7271 0.00 0.00 0.00 B-4 695,000.00 ~~683~~681,~~504~~887.0503 ~~805~~817.3686 0.00 0.00 0.00 B-5 521,000.00 ~~512~~511,~~382~~169.1899 ~~603~~613.7310 0.00 0.00 0.00 B-6 695,761.00 ~~684~~682,~~252~~633.5374 ~~806~~818.2475 0.00 0.00 0.00 Totals 347,452,706.00 ~~201~~195,~~783~~458,~~958~~119.9684 ~~238~~234,~~085~~760.2006 24,~~575~~960,~~760~~517.7360 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 0.00 0.00 0.00000000 0.00 A-2 ~~130~~241,~~622~~759.2611 65,~~337~~933,~~840~~131.2881 0.~~47832757~~44778353 ~~130~~241,~~622~~759.2611 A-3 0.00 0.00 0.00000000 0.00 A-4 0.00 0.00 0.00000000 0.00 A-5 12,~~134~~100,~~826~~366.4670 5551,~~062~~546,~~199~~153.7262 0.~~49891450~~46705587 12,~~134~~100,~~826~~366.4670 A-6 ~~882~~2,~~159~~721,807.5374 1310,~~841~~201,~~969~~966.2042 0.~~59222048~~43648511 ~~882~~2,~~159~~721,807.5374 A-7 0.00 70,775,143.00 1.00000000 0.00 A-8 0.00 11,795,857.00 1.00000000 0.00 A-9 0.00 0.00 0.00000000 0.00 A-10 ~~652~~117,~~113~~865.4508 ~~1,113,653~~0.1200 0.~~02227306~~00000000 ~~652~~117,~~113~~865.4508 A-11 0.00 13,375,000.00 1.00000000 0.00 A-12 0.00 0.00 0.00000000 0.00 A-13 0.00 0.00 0.00000000 0.00 A-14 0.00 0.00 0.00000000 0.00 A-15 0.00 15,700,000.00 1.00000000 0.00 PO 1,~~843~~007.6487 ~~558~~550,~~267~~254.0550 0.~~79770099~~78625196 1,~~843~~007.6487 X 0.00 0.00 0.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 B-1 6,~~240~~336.0992 5,~~289~~277,~~687~~061.0117 0.~~98230028~~97995565 6,~~240~~336.0992 B-2 2,~~214~~248.4581 1,~~877~~872,~~175~~695.8425 0.~~98230028~~97995565 2,~~214~~248.4581 B-3 1,~~610~~635.7271 1,~~365~~362,~~397~~138.3935 0.~~98230028~~97995565 1,~~610~~635.7271 B-4 ~~805~~817.3686 ~~682~~681,~~698~~069.6918 0.~~98230027~~97995565 ~~805~~817.3686 B-5 ~~603~~613.7310 ~~511~~510,~~778~~556.4589 0.~~98230029~~97995564 ~~603~~613.7310 B-6 ~~806~~818.2475 ~~683~~681,~~446~~814.2999 0.~~98230037~~97995575 ~~806~~818.2475 Totals 25,~~813~~195,~~845~~277.9365 ~~198~~190,~~970~~262,~~113~~842.0418 0.~~57265380~~54759350 25,~~813~~195,~~845~~277.9365

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 4,750,000.00 0.00000000 0.00000000 0.00000000 0.00000000 A-2 13,250,000.00 ~~488~~466.~~18585208~~02950415 0.~~79161962~~77923623 917.~~06666415~~46673509 0.00000000 A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-5 110,364,000.00 ~~509~~486.~~19707676~~08713267 0.~~82569053~~81277400 918.~~45688766~~21849253 0.00000000 A-6 23,373,000.00 ~~629~~552.~~96315107~~93604415 34.~~03073504~~97330510 34111.~~71193942~~47763146 0.00000000 A-7 70,775,143.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-8 11,795,857.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-9 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-10 50,000,000.00 352.~~31533140~~35730160 10.~~04729360~~10067400 112.~~99497540~~25662760 0.00000000 A-11 13,375,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-12 15,655,750.00 0.00000000 0.00000000 0.00000000 0.00000000 A-13 7,116,250.00 0.00000000 0.00000000 0.00000000 0.00000000 A-14 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-15 15,700,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 PO 699,845.00 ~~800~~787.~~33534568~~69208896 1.~~41044088~~41214126 10.~~22391387~~02799191 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,385,000.00 ~~983~~981.~~45907149~~13242340 1.~~15879109~~17677252 0.00000000 0.00000000 B-2 1,911,000.00 ~~983~~981.~~45906855~~13242282 1.~~15879121~~17677132 0.00000000 0.00000000 B-3 1,390,000.00 ~~983~~981.~~45907194~~13242446 1.~~15879137~~17676978 0.00000000 0.00000000 B-4 695,000.00 ~~983~~981.~~45906475~~13241727 1.~~15879137~~17677698 0.00000000 0.00000000 B-5 521,000.00 ~~983~~981.~~45907869~~13241843 1.~~15879079~~17677543 0.00000000 0.00000000 B-6 695,761.00 ~~983~~981.~~45916198~~13251533 1.~~15878872~~17676903 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 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 918.~~85828377~~24597057 ~~478~~447.~~32756830~~78353283 0.~~47832757~~44778353 918.~~85828377~~24597057 A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-5 0.00000000 1019.~~28257820~~03126654 ~~498~~467.~~91449857~~05586622 0.~~49891450~~46705587 1019.~~28257820~~03126654 A-6 0.00000000 37116.~~74267445~~45093655 ~~592~~436.~~22047662~~48510760 0.~~59222048~~43648511 37116.~~74267445~~45093655 A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-10 0.00000000 132.~~04226900~~35730160 220.~~27306240~~00000000 0.~~02227306~~00000000 132.~~04226900~~35730160 A-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-12 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-13 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-14 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-15 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 PO 0.00000000 21.~~63435475~~44013317 ~~797~~786.~~70099093~~25195579 0.~~79770099~~78625196 21.~~63435475~~44013317 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 1.~~15879109~~17677252 ~~982~~979.~~30028041~~95564903 0.~~98230028~~97995565 1.~~15879109~~17677252 B-2 0.00000000 1.~~15879121~~17677132 ~~982~~979.~~30028257~~95565149 0.~~98230028~~97995565 1.~~15879121~~17677132 B-3 0.00000000 1.~~15879137~~17676978 ~~982~~979.~~30028058~~95564748 0.~~98230028~~97995565 1.~~15879137~~17676978 B-4 0.00000000 1.~~15879137~~17677698 ~~982~~979.~~30027338~~95565468 0.~~98230027~~97995565 1.~~15879137~~17677698 B-5 0.00000000 1.~~15879079~~17677543 ~~982~~979.~~30028791~~95564299 0.~~98230029~~97995564 1.~~15879079~~17677543 B-6 0.00000000 1.~~15878872~~17676903 ~~982~~979.~~30037326~~95574630 0.~~98230037~~97995575 1.~~15878872~~17676903 (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 4,750,000.00 4.75000% 0.00 0.00 0.00 0.00 A-2 13,250,000.00 2.~~11500~~43250% 6,~~468~~174,~~462~~890.5493 1112,~~400~~517.6702 0.00 0.00 A-3 0.00 0.75000% 3433,~~635~~063,~~484~~550.2240 2120,~~647~~664.1872 0.00 0.00 A-4 0.00 5.~~88500~~56750% 6,~~468~~174,~~462~~890.5493 3128,~~722~~648.4292 0.00 0.00 A-5 110,364,000.00 4.75000% 5653,~~197~~646,~~026~~520.1831 ~~222~~212,~~446~~350.5681 0.00 0.00 A-6 23,373,000.00 5.50000% 1412,~~724~~923,~~128~~774.7316 6759,~~485~~233.5996 0.00 0.00 A-7 70,775,143.00 5.00000% 70,775,143.00 294,896.43 0.00 0.00 A-8 11,795,857.00 2.~~18500~~50250% 11,795,857.00 2124,~~478~~599.2928 0.00 0.00 A-9 0.00 65.~~31500~~99750% 11,795,857.00 6258,~~075~~954.7071 0.00 0.00 A-10 50,000,000.00 5.50000% 1117,~~765,766~~865.5708 ~~8,093~~540.1021 0.00 0.00 A-11 13,375,000.00 5.45000% 13,375,000.00 60,744.79 0.00 0.00 A-12 15,655,750.00 23.~~69188~~04000% 0.00 0.00 0.00 0.00 A-13 7,116,250.00 1110.~~67786~~91200% 0.00 0.00 0.00 0.00 A-14 0.00 0.25000% 15,700,000.00 3,270.83 0.00 0.00 A-15 15,700,000.00 5.25000% 15,700,000.00 68,687.50 0.00 0.00 PO 699,845.00 0.00000% ~~560~~551,~~110~~262.6937 0.00 0.00 0.00 X 0.00 0.~~22229~~21795% ~~201~~195,~~783~~458,~~958~~119.9683 3735,~~378~~500.5452 0.00 0.00 R-I 50.00 5.50000% 0.00 0.00 0.00 0.00 R-II 50.00 5.50000% 0.00 0.00 0.00 0.00 B-1 5,385,000.00 5.50000% 5,~~295~~283,~~927~~398.10 24,~~273~~215.0057 0.00 0.00 B-2 1,911,000.00 5.50000% 1,~~879~~874,~~390~~944.2806 8,~~613~~593.8749 0.00 0.00 B-3 1,390,000.00 5.50000% 1,~~367~~363,~~008~~774.1107 6,~~265~~250.4563 0.00 0.00 B-4 695,000.00 5.50000% ~~683~~681,~~504~~887.0503 3,~~132~~125.7332 0.00 0.00 B-5 521,000.00 5.50000% ~~512~~511,~~382~~169.1899 2,~~348~~342.4286 0.00 0.00 B-6 695,761.00 5.50000% ~~684~~682,~~252~~633.5374 3,~~136~~128.1674 0.00 0.00 Totals 347,452,706.00 ~~959~~928,~~097~~266.2331 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 0.00 0.00 0.00 A-2 0.00 0.00 1112,~~400~~517.6602 0.00 65,~~337~~933,~~840~~131.2881 A-3 0.00 0.00 2120,~~647~~664.1872 0.00 3331,~~936~~769,~~065~~047.2943 A-4 0.00 0.00 3128,~~722~~648.4292 0.00 65,~~337~~933,~~840~~131.2881 A-5 0.0102 0.00 ~~222~~212,~~446~~350.5679 0.00 5551,~~062~~546,~~199~~153.7262 A-6 0.00 0.00 6759,~~485~~233.5996 0.00 1310,~~841~~201,~~969~~966.2042 A-7 0.0102 0.00 294,896.4241 0.00 70,775,143.00 A-8 0.00 0.00 2124,~~478~~599.2927 0.00 11,795,857.00 A-9 0.00 0.00 6258,~~075~~954.7071 0.00 11,795,857.00 A-10 0.00 0.00 ~~8,093~~540.1021 0.00 ~~1,113,653~~0.1200 A-11 0.00 0.00 60,744.79 0.00 13,375,000.00 A-12 0.00 0.00 0.00 0.00 0.00 A-13 0.00 0.00 0.00 0.00 0.00 A-14 0.00 0.00 3,270.83 0.00 15,700,000.00 A-15 0.0001 0.00 68,687.5049 0.00 15,700,000.00 PO 0.00 0.00 0.00 0.00 ~~558~~550,~~267~~254.0550 X 0.00 0.00 3735,~~378~~500.5452 0.00 ~~198~~190,~~970~~262,~~113~~842.0418 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 24,~~273~~215.0057 0.00 5,~~289~~277,~~687~~061.0117 B-2 0.00 0.00 8,~~613~~593.8749 0.00 1,~~877~~872,~~175~~695.8425 B-3 0.00 0.00 6,~~265~~250.4563 0.00 1,~~365~~362,~~397~~138.3935 B-4 0.00 0.00 3,~~132~~125.7332 0.00 ~~682~~681,~~698~~069.6918 B-5 0.00 0.00 2,~~348~~342.4286 0.00 ~~511~~510,~~778~~556.4589 B-6 0.00 0.00 3,~~136~~128.1674 0.00 ~~683~~681,~~446~~814.2999 Totals 0.0205 0.00 ~~959~~928,~~097~~266.2125 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 4,750,000.00 4.75000% 0.00000000 0.00000000 0.00000000 0.00000000 A-2 13,250,000.00 2.~~11500~~43250% ~~488~~466.~~18585208~~02950415 0.~~86042792~~94468075 0.00000000 0.00000000 A-3 0.00 0.75000% ~~488~~466.~~18585217~~02950389 0.~~30511619~~29126845 0.00000000 0.00000000 A-4 0.00 5.~~88500~~56750% ~~488~~466.~~18585208~~02950415 2.~~39414491~~16218264 0.00000000 0.00000000 A-5 110,364,000.00 4.75000% ~~509~~486.~~19707676~~08713267 21.~~01557174~~92409490 0.00000000 0.00000000 A-6 23,373,000.00 5.50000% ~~629~~552.~~96315107~~93604415 2.~~88733111~~53428999 0.00000000 0.00000000 A-7 70,775,143.00 5.00000% 1000.00000000 4.16666668 0.00000000 0.00000000 A-8 11,795,857.00 2.~~18500~~50250% 1000.00000000 12.~~82083337~~08541694 0.00000000 0.00000000 A-9 0.00 65.~~31500~~99750% 1000.00000000 54.~~26250022~~99791664 0.00000000 0.00000000 A-10 50,000,000.00 5.50000% 352.~~31533140~~35730160 0.~~16186200~~01080420 0.00000000 0.00000000 A-11 13,375,000.00 5.45000% 1000.00000000 4.54166654 0.00000000 0.00000000 A-12 15,655,750.00 23.~~69188~~04000% 0.00000000 0.00000000 0.00000000 0.00000000 A-13 7,116,250.00 1110.~~67786~~91200% 0.00000000 0.00000000 0.00000000 0.00000000 A-14 0.00 0.25000% 1000.00000000 0.20833312 0.00000000 0.00000000 A-15 15,700,000.00 5.25000% 1000.00000000 4.37500000 0.00000000 0.00000000 PO 699,845.00 0.00000% ~~800~~787.~~33534568~~69208896 0.00000000 0.00000000 0.00000000 X 0.00 0.~~22229~~21795% ~~580~~562.~~75230233~~54597088 0.~~10757879~~10217368 0.00000000 0.00000000 R-I 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 5.50000% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,385,000.00 5.50000% ~~983~~981.~~45907149~~13242340 4.~~50752089~~49685608 0.00000000 0.00000000 B-2 1,911,000.00 5.50000% ~~983~~981.~~45906855~~13242282 4.~~50751962~~49685505 0.00000000 0.00000000 B-3 1,390,000.00 5.50000% ~~983~~981.~~45907194~~13242446 4.~~50751799~~49685612 0.00000000 0.00000000 B-4 695,000.00 5.50000% ~~983~~981.~~45906475~~13241727 4.~~50752518~~49686331 0.00000000 0.00000000 B-5 521,000.00 5.50000% ~~983~~981.~~45907869~~13241843 4.~~50752399~~49685221 0.00000000 0.00000000 B-6 695,761.00 5.50000% ~~983~~981.~~45916198~~13251533 4.~~50752485~~49686027 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 0.00000000 0.00000000 0.00000000 A-2 0.00000000 0.00000000 0.~~86042717~~94468075 0.00000000 ~~478~~447.~~32756830~~78353283 A-3 0.00000000 0.00000000 0.~~30511619~~29126845 0.00000000 ~~478~~447.~~32756856~~78353303 A-4 0.00000000 0.00000000 2.~~39414491~~16218264 0.00000000 ~~478~~447.~~32756830~~78353283 A-5 0.~~00000009~~00000018 0.00000000 21.~~01557174~~92409472 0.00000000 ~~498~~467.~~91449857~~05586622 A-6 0.00000000 0.00000000 2.~~88733111~~53428999 0.00000000 ~~592~~436.~~22047662~~48510760 A-7 0.~~00000014~~00000028 0.00000000 4.~~16666654~~16666640 0.00000000 1000.00000000 A-8 0.00000000 0.00000000 12.~~82083337~~08541609 0.00000000 1000.00000000 A-9 0.00000000 0.00000000 54.~~26250022~~99791664 0.00000000 1000.00000000 A-10 0.00000000 0.00000000 0.~~16186200~~01080420 0.00000000 220.~~27306240~~00000000 A-11 0.00000000 0.00000000 4.54166654 0.00000000 1000.00000000 A-12 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-13 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-14 0.00000000 0.00000000 0.20833312 0.00000000 1000.00000000 A-15 0.~~00000000~~00000064 0.00000000 4.~~37500000~~37499936 0.00000000 1000.00000000 PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~797~~786.~~70099093~~25195579 X 0.00000000 0.00000000 0.~~10757879~~10217368 0.00000000 ~~572~~547.~~65380181~~59349660 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 4.~~50752089~~49685608 0.00000000 ~~982~~979.~~30028041~~95564903 B-2 0.00000000 0.00000000 4.~~50751962~~49685505 0.00000000 ~~982~~979.~~30028257~~95565149 B-3 0.00000000 0.00000000 4.~~50751799~~49685612 0.00000000 ~~982~~979.~~30028058~~95564748 B-4 0.00000000 0.00000000 4.~~50752518~~49686331 0.00000000 ~~982~~979.~~30027338~~95565468 B-5 0.00000000 0.00000000 4.~~50752399~~49685221 0.00000000 ~~982~~979.~~30028791~~95564299 B-6 0.00000000 0.00000000 4.~~50752485~~49686027 0.00000000 ~~982~~979.~~30037326~~95574630 (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 36,~~815~~163,~~576~~521.3493 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 616,~~051~~455.9869 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 36,~~821~~179,~~628~~977.3262 Withdrawals Reimbursement for Servicer Advances 413,~~408~~527.0518 Payment of Service Fee 4442,~~277~~906.1354 Payment of Interest and Principal 36,~~772~~123,~~943~~543.1490 Total Withdrawals (Pool Distribution Amount) 36,~~821~~179,~~628~~977.3262 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 4240,~~038~~720.3244 Master Servicing Fee 1,~~681~~628.5281 MBIA Premium Amount 557.29 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 4442,~~277~~906.1354

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 14 0 0 0 14 ~~394~~2,~~496~~380,658.6669 0.00 0.00 0.00 ~~394~~2,~~496~~380,658.6669 60 Days 1 0 0 0 1 ~~587~~407,~~775~~466.5615 0.00 0.00 0.00 ~~587~~407,~~775~~466.5615 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 25 0 0 0 25 ~~982~~2,~~272~~788,124.2284 0.00 0.00 0.00 ~~982~~2,~~272~~788,124.2284 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.~~226757~~947867% 0.000000% 0.000000% 0.000000% 0.~~226757~~947867% 01.~~198090~~250018% 0.000000% 0.000000% 0.000000% 01.~~198090~~250018% 60 Days 0.~~226757~~236967% 0.000000% 0.000000% 0.000000% 0.~~226757~~236967% 0.~~295142~~213949% 0.000000% 0.000000% 0.000000% 0.~~295142~~213949% 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 01.~~453515~~184834% 0.000000% 0.000000% 0.000000% 01.~~453515~~184834% 01.~~493232~~463968% 0.000000% 0.000000% 0.000000% 01.~~493232~~463968%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 616,~~051~~455.9869

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 11,297,706.00 3.25158095% 10,~~968~~935,~~450~~590.7233 5.~~51261220~~74762271% 94.~~753245~~525753% 100.000000% Class R-I 11,297,656.00 3.25156656% 10,~~968~~935,~~450~~590.7233 5.~~51261220~~74762271% 0.000000% 0.000000% Class R-II 11,297,606.00 3.25155217% 10,~~968~~935,~~450~~590.7233 5.~~51261220~~74762271% 0.000000% 0.000000% Class X 10,597,761.00 3.05013051% 10,~~410~~385,~~183~~335.6783 5.~~23203385~~45841516% 0.000000% 0.000000% Class B-1 5,212,761.00 1.50027929% 5,~~120~~108,~~496~~274.66 2.~~57350040~~68485144% 2.~~666014~~781608% 0.000000% Class B-2 3,301,761.00 0.95027638% 3,~~243~~235,~~320~~579.8241 1.~~63005427~~70058398% 0.~~946101~~987122% 0.000000% Class B-3 1,911,761.00 0.55022193% 1,~~877~~873,~~923~~441.4306 0.~~94382186~~98465945% 0.~~688163~~718001% 0.000000% Class B-4 1,216,761.00 0.35019471% 1,~~195~~192,~~224~~371.7488 0.~~60070566~~62669719% 0.~~344082~~359001% 0.000000% Class B-5 695,761.00 0.20024625% ~~683~~681,~~446~~814.2999 0.~~34349193~~35835425% 0.~~257937~~269121% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~344458~~359394% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 5.~~967021~~962440% Weighted Average Pass-Through Rate 5.~~707021~~702440% Weighted Average Maturity(Stepdown Calculation) ~~339~~337 Beginning Scheduled Collateral Loan Count ~~447~~433 Number Of Loans Paid In Full 611 Ending Scheduled Collateral Loan Count ~~441~~422 Beginning Scheduled Collateral Balance ~~201~~195,~~783~~458,~~959~~119.0087 Ending Scheduled Collateral Balance ~~198~~190,~~970~~262,~~113~~842.0822 Ending Actual Collateral Balance at 31-~~Aug~~Oct-2004 ~~199~~190,~~150~~449,~~313~~900.8663 Monthly P &I Constant 1,~~241~~205,~~459~~932.5388 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 36,~~711~~062,~~049~~408.3034 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~198~~190,~~970~~262,~~113~~842.0822 Scheduled Principal ~~238~~234,~~085~~760.1906 Unscheduled Principal 24,~~575~~960,~~760~~517.7359

Miscellaneous Reporting Average Loss Severity 0.00 Senior Prepayment Percentage 100.000000% Senior Percentage 94.~~820463~~665243% Subordinate Percentage 5.~~179537~~334757% Subordinate Prepayment Percentage 0.000000%

Filing Compare · PRIME MORTGAGE TRUST 2003-1