Item 1. Business.
Omitted.
Item 2.
Item 2. Properties.
See Item 15(a), Exhibits 99.1, 99.2, and 99.3, for information provided in lieu of information required by Item 102 of Regulation S-K.
Item 3.
Item 3. Legal Proceedings.
The registrant knows of no material pending legal proceedings involving the trust created under the Pooling and Servicing Agreement (the Trust), the Trustee, the Servicer or the registrant with respect to the Trust other than routine litigation incidental to the duties of the respective parties.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
No established public trading market for the Certificates exists.
Records provided to the Trust by the DTC and the Trustee indicate that as of December 31, 2003, the number of holders of record for each class of Certificate were as follows:
Class A-1 3 Class A-2 5 Class A-3 8 Class A-4 5 Class A-5 12 Class A-6 5 Class B-1 3 Class B-2 3 Class B-3 3 Class B-4 1 Class B-5 1 Class B-6 1 Class R-I 1 Class R-II 1
Total: 52
Item 6.
Item 6. Selected Financial Data.
Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.
Omitted.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures about Market Risk.
Not applicable.
Item 8.
Item 8. Financial Statements and Supplementary Data.
See Item 15(a), Exhibits 99.1, 99.2, 99.3, for information provided in lieu of information required by Item 302 of Regulation S-K.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
Item 9A.
Item 9A. Controls and Procedures.
Not applicable.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Not applicable.
Item 11.
Item 11. Executive Compensation.
Not applicable.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
Not applicable.
Item 13.
Item 13. Certain Relationships and Related Transactions.
Not applicable.
Item 14.
Item 14. Principal Accounting Fees and Services.
Not applicable.
PART IV
Item 15.
Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
(a) Exhibits
(31.1) Rule 13a-14(a)/15d-14(a) Certification
(99.1) Annual Independent Accountants' Servicing Reports concerning servicing activities for the year ended December 31, 2003.
(99.2) Report of Management as to Compliance with Minimum Servicing Standards for the year ended December 31, 2003.
(99.3) Annual Statements of Compliance under the Pooling and Servicing Agreements for the year ended December 31, 2003.
(99.4) Aggregate Statement of Principal and Interest Distributions to Certificate Holders.
(b) On November 05, 2003, December 04, 2003, and January 07, 2004 reports on Form 8-K were filed by the Company in order to provide the statements for the monthly distributions to holders of the Certificates. No other reports on Form 8-K have been filed during the last quarter of the period covered by this report.
(c) Not applicable.
(d) Omitted.
Filed herewith.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized:
Bear Stearns ARM Trust Mortgage Pass-Through Certificates Series 2001-1 (Registrant)
Signed: Structured Asset Mortgage Investments, Inc., as Seller
By: Jeffrey Mayer, President
By: /s/ Jeffrey Mayer, President
Dated: March 30, 2004
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
(a)(i) No annual report is provided to the Certificateholders other than with respect to aggregate principal and interest distributions.
(a)(ii) No proxy statement, form of proxy or other proxy soliciting material has been sent to any Certificateholder with respect to any annual or other meeting of Certificateholders.
Exhibit Index
Exhibit No.
Ex-(31.1) Rule 13a-14(a)/15d-14(a) Certification
I, Jeffrey Mayer, certify that:
1. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution or servicing reports filed in respect of periods included in the year covered by this annual report , of Bear Stearns ARM Trust Mortgage Pass-Through Certificates, Series 2001-1 Trust;
2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;
3. Based on my knowledge, the distribution or servicing information required to be provided to the Trustee by the Servicer under the Pooling and Servicing or similar, agreement, for inclusion in these reports is included in these reports;
4. I am responsible for reviewing the activities performed by the master servicer under the pooling and servicing, or similar, agreement, and based on upon my knowledge and the annual compliance review required under that agreement, and except as disclosed in the reports, the master servicer has fulfilled its obligations under that agreement; and
5. The reports disclose all significant deficiencies relating to the servicer's compliance with the minimum servicing standards based upon the report provided by an independent public accountant, after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar procedure, as set forth in the pooling and servicing, or similar, agreement, that is included in these reports.
In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties: ABN Amro Mortgage Group as Servicer, Alliance Mtg Co as Servicer, Cendant Mortgage Corp as Servicer, Charter Bank For Savings as Servicer, Countrywide Funding as Servicer, First Indiana Bank as Servicer, GMAC Mortgage Corp as Servicer, National City Mortgage Co as Servicer, Residential Funding Corp as Servicer, Wachovia Mortgage Corporation as Servicer, Washington Mutual Bank, F.A. as Servicer, Wilmington Savings as Servicer.
Date: March 30, 2004
/s/ Jeffrey Mayer Signature
President Title
Ex-99.1 (a) ERNST & YOUNG (Logo)
Ernst & Young LLP Scars Tower 233 South Wacker Drive Chicago, Illinois 60606-6301
Phone: (312) 879-2000 www.ey.com
Report on Management's Assertion on Compliance with Minimum Servicing Standards Set Forth in the Uniform Single Attestation Program for Mortgage Bankers
Report of Independent Accountants
Board of Directors LaSalle Bank Corporation
We have examined management's assertion, included in the accompanying report titled Report of Management, that ABN AMRO Mortgage Group, Inc. (AAMG, a wholly owned subsidiary of LaSalle Bank Corporation) complied with the servicing standards identified in Exhibit A to the Report of Management (the "specified minimum servicing standards") as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) during the year ended December 31, 2003, Management is responsible for AAMG's compliance with those specified minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the AAMG's compliance based on our examination.
Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the AAMG's compliance with the specified minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on AAMG's compliance with the specified minimum servicing standards.
In our opinion, management's assertion that the AAMG complied with the aforementioned specified minimum servicing standards during the year ended December 31, 2003, is fairly stated, in all material respects.
/s/ Ernst & Young LLP
January 30, 2004
A Member Practice of Ernst & Young Global
Ex-99.1 (b)
(Logo) Deloitte
Deloitte & Touche LLP Suite 2801 One Independent Drive Jacksonville, FL 32202-5034 USA Tel: +19046651400 Fax: +1 9046651600 www.deloitte.com INDEPENDENT ACCOUNTANTS' REPORT ON MANAGEMENT'S ASSERTION ABOUT COMPLIANCE WITH UNIFORM SINGLE ATTESTATION PROGRAM REQUIREMENTS
To the Board of Directors EverHome Mortgage Company:
We have examined management's assertion about EverHome Mortgage Company's (the "Company") (formerly Alliance Mortgage Company) compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) as of and for the year ended December 31, 2003 included in the accompanying management assertion. Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the entity's compliance based on our examination.
Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2003 is fairly stated, in all material respects.
/s/ Deloitte & Touche LLP February 25, 2004 Member of Deloitte Touche Tohmatsu
Ex-99.1 (c) Deloitte (logo)
Deloitte & Touche LLP Third Floor 750 College Road East Princeton, NJ 08540 USA
Tel: +1 609 514 3600 Fax: +1 609 514 3603 www.deloitte.com
INDEPENDENT ACCOUNTANTS' REPORT
To Cendant Mortgage Corporation:
We have examined management's assertion that Cendant Mortgage Corporation (the Company) has complied as of and for the year ended December 31, 2003, with its established minimum servicing standards described in the accompanying Management Assertion Report. Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with its minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with its minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2003, is fairly stated, in all material respects based on the criteria set forth in Appendix I.
/s/ Deloitte & Touche
February 23, 2004 Memeber of Deloitte Touche Tohmatsu
APPENDIX I
MINIMUM SERVICING STANDARDS AS SET FORTH IN THE MORTGAGE BANKERS ASSOCIATION OF AMERICA'S UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS
I. CUSTODIAL BANK ACCOUNTS
1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall:
* be mathematically accurate; * be prepared within forty-five (45) calendar days after the cutoff date; * be reviewed and approved by someone other than the person who prepared the reconciliation; and * document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of their original identification.
2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an investor's or a mortgagor's account.
3. Each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor.
4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan.
II. MORTGAGE PAYMENTS
1. Mortgage payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two business days of receipt.
2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted to the applicable mortgagor records within two business days of receipt.
3. Mortgage payments shall be allocated to principal, interest, insurance, taxes or other escrow items in accordance with the mortgagor's loan documents.
4. Mortgage payment identified as loan payoffs shall be allocated in accordance with the mortgagor's loan documents.
III. DISBURSEMENTS
1. Disbursements made via wire transfer on behalf of mortgagor or investor shall be made only by authorized personnel.
2. Disbursements made on behalf of a mortgagor or investor shall be posted within two business days to the mortgagor's or investor's records maintained by the servicing entity.
3. Tax and insurance payments shall be made on or before the penalty or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such support has been received by the servicing entity at least thirty (30) calendar days prior to these dates.
4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or omission.
5. Amounts remitted to investors per the servicer's investor reports shall agree with cancelled checks, or other form of payment, or custodial bank statements.
6. Unused checks shall be safeguarded so as to prevent unauthorized access.
IV. INVESTOR ACCOUNTING AND REPORTING
1. The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity.
V. MORTGAGOR LOAN ACCOUNTING
1. The servicing entity's mortgage loan records shall agree with or reconcile to, the records of mortgagors with respect to the unpaid principal balance on a monthly basis.
2. Adjustments on ARM loans shall be computed based on the related mortgage note and any ARM rider.
3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at least an annual basis.
4. Interest on escrow accounts shall be paid, or credited, to mortgagors in accordance with the applicable state laws.
VI. Delinquencies
1. Records documenting collection efforts shall be maintained during the period a loan is in default and shall be updated at least monthly. Such records shall describe the entity's activities in monitoring delinquent loans including, for example, phone calls, letters and mortgage payment rescheduling plans in cases where the delinquency is deemed temporary (e.g., illness or unemployment).
VII. INSURANCE POLICIES
1. A fidelity bond and errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented to investors in management's assertion.
Ex-99.1 (d)
(LOGO) NEFF + RICCI LLP
CONSULTANTS & CERTIFIED PUBLIC ACCOUNTANTS 6100 UPTOWN BLVD NE * SUITE 400 * ALBUQUERQUE, NM 87110 TEL: 505.830.6200 FAX: 505.830.6282 WEB: WWW.NEFFCPA.COM
Independent Auditors' Report
The Board of Directors Charter Bank
We have examined management's assertion, included in the accompanying management assertion, that Charter Bank complied with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) as of and for the year ended December 31, 2003. Management is responsible for Charter Bank's compliance with those requirements. Our responsibility is to express an opinion on Charter Bank's compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about Charter Bank's compliance with those requirements, and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Charter Bank's compliance with the specified requirements.
In our opinion, Charter Bank complied in all material respects with the aforementioned requirements, as of and for the year ended December 31, 2003.
This report is intended for the information of the audit committee, board of directors, management, servicing investors and applicable regulatory agencies, and is not intended to be and should not be used by anyone other than these specified parties.
/s/ Neff & Ricci LLP
Albuquerque, New Mexico February 20, 2004
Ex-99.1 (e)
Grant Thornton (logo)
Accountants and Management Consultants
REPORT OF INDEPENDENT ACCOUNTANTS ON MANAGEMENT'S ASSERTION ON COMPLIANCE WITH MINIMUM SERVICING STANDARDS SET FORTH IN THE UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS
Board of Directors Countrywide Financial Corporation
We have examined management's assertion about Countrywide Financial Corporation and Subsidiaries' (including its wholly-owned subsidiary, Countrywide Home Loans, Inc. ("CHL") and Countrywide Home Loans Servicing, L.P., a wholly-owned subsidiary of CHL) ("the Company") compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) as of and for the year ended December 31, 2003 included in the accompanying management assertion. Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the entity's compliance based on our examination.
Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance With the minimum servicing standards.
In our opinion, management's assertion that Countrywide Financial Corporation and Subsidiaries (including its wholly-owned subsidiary, Countrywide Home Loans, Inc., and Countrywide Home Loans Servicing, L.P., a wholly-owned subsidiary of CHL) complied with the aforementioned minimum servicing standards as of and for the year ended December 31,2003 is fairly stated, in all material respects, except as disclosed in the attached Schedule of Findings.
/s/ Grant Thorton LLP
Los Angeles, California February 27, 2004
Suite 300 1000 Wilshire Blvd. Los Angeles, CA 90017 2464
T 213 627-1717 F 213 624-6793
W www.grantthornton.com
Grant Thornton LLP US Member of Grant Thornton International
Ex-99.1 (f)
(Logo) KPMG
KPMG LLP 2400 First Indiana Plaza 135 North Pennsylvania Street Indianapolis. IN 46204-2452
Independent Auditors' Report
The Audit Committee of the Board of Directors First Indiana Corporation:
We have examined management's assertion about First Indiana Bank's, a wholly-owned subsidiary of First Indiana Corporation (the "Bank"), compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers as of and for the year ended December 31, 2003 included in the accompanying management assertion. Management is responsible for the Bank's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Bank's compliance based on our examination.
Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Bank's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Bank's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Bank has complied in all material respects with the aforementioned minimum servicing standards as of and for the year ended December 31, 2003 is fairly stated, in all material respects.
/s/ KPMG LLP February 27, 2004
KPMG LLP, a US limited liability partnership, the US member firm of KPMG International. a Swiss cooperative
Ex-99.1 (g)
(logo) PRICEWATERHOUSECOOPERS
PricewaterhouseCoopers LLP 125 High Street Boston MA 02110 Telephone (617) 530 5000 facsimile (617) 530-5001
Report of Independent Auditors
To the Board of Directors and Stockholder of GMAC Mortgage Corporation:
We have examined management's assertion about GMAC Mortgage Corporation and its subsidiaries' (the "Company") compliance with the minimum servicing standards ("standards") identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year ended December 31, 2003 included in the accompanying management assertion (see Exhibit I). Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the entity's compliance based on our examination.
Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the standards.
In our opinion, management's assertion that the Company complied with the aforementioned standards as of and for the year ended December 31, 2003 is fairly stated, in all material respects.
/s/ PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP
March 24, 2004
Ex-99.1 (h)
(LOGO) ERNST & YOUNG
Ernst & Young LLP 1300 Huntington Building 925 Euclid Avenue Cleveland, Ohio 44115
Phone: (216) 861-5000 www.ey.com
Report on Management's Assertion on Compliance with the Specified Minimum Servicing Standards Set Forth in the Uniform Single Attestation Program for Mortgage Bankers
Report of Independent Accountants
Board of Directors National City Mortgage Co.
We have examined management's assertion, inc1uded in the accompanying report titled Report of Management, that National City Mortgage Co. (NCM) complied with the servicing standards identified in Exhibit A to the Report of Management (the specific minimum servicing standards) as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) during the year-ended December 31, 2003. Management is responsible for NCM's compliance with the specified minimum servicing standards. Our responsibility is to express an opinion on management's assertions about NCM's compliance based on our examination.
Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about NCM's compliance with the specified minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on NCM's compliance with specified minimum servicing standards.
In our opinion, management's assertion that NCM complied with the aforementioned specified minimum servicing standards during the year ended December 31, 2003, is fairly stated, in all material respects.
/s/ Ernst & Young LLP
February 25, 2004
A Member Practice of Ernst & Young Global
Ex-99.1 (i)
(Logo) PriceWaterhouseCoopers
PricewaterhouseCoopers LLP 650 Third Avenue South Park Building Minneapolis MN 55402-4333 Telephone (612) 596 6000 Facsimile (612) 373 7160
Report of Independent Accountants
To the Board of Directors and Stockholder of Residential Funding Corporation:
We have examined management's assertion about Residential Funding Corporation's (the "Company") compliance with the minimum servicing standards identified in their role as Master Servicer as of and for the year ended December 31, 2003, included in the accompanying management assertion. Such assertion was examined relating to those mortgage loans included in the listing of mortgage loans and series of certificates included in the attached Exhibit 1. Our testing procedures were applied only to the series of certificates serviced on or before September 20,2003. Direct servicing functions are performed by various primary servicers and subservicers. Management is responsible for the Company's compliance with these minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.
Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. Loans and series of certificates subject to such procedures were selected using sampling methods, and accordingly, we make no representation that our examination procedures were performed on a specific series of loans of certificates as listed in the attached Exhibit 1. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2003 is fairly stated, in all material respects.
/s/ PriceWaterhouseCoopers
February 20,2004
Ex-99.1 (j)
(LOGO) KPMG KPMG LLP Suite 2300 401 south Tryon Street Three First Union Center Charlotte. NC 28202-1911
Independent Accountants' Report
The Board of Directors Wachovia Mortgage Corporation
We have examined management's assertion, included in the accompanying Management Assertion, that Wachovia Mortgage Corporation (a subsidiary of Wachovia Corporation) complied with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers as of and for the year ended December 31, 2003. Management is responsible for Wachovia Mortgage Corporation's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about Wachovia Mortgage Corporation's compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about Wachovia Mortgage Corporation's compliance with the minimum servicing standards specified above and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Wachovia Mortgage Corporation's compliance with the minimum servicing standards.
In our opinion, management's assertion that Wachovia Mortgage Corporation complied with the aforementioned minimum servicing standards during the year ended December 31, 2003 is fairly stated, in all material respects.
/s/ KPMG LLP
March 26, 2004 (Logo) KPMG LLP U.S. Limited Liability partnership is the U.S. Member firm of KPMG International A Swiss Cooperative
Ex-99.1 (k)
(logo) Deloitte
Deloitte & Touche LLP Suite 3300 925 Fourth Avenue Seattle, WA 98104-1126 USA Tel: +12067167000 Fax: + 1 2069657000 www.deloitte.com
INDEPENDENT ACCOUNTANTS' REPORT
Board of Directors Washington Mutual Bank, FA and Subsidiaries
We have examined management's assertion that Washington Mutual Bank, FA and subsidiaries (the "Company") has complied as of and for the year ended December 31, 2003, with its established minimum servicing standards for single family residential mortgages identified in the accompanying Management's Assertion, dated February 16, 2004. Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with its minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with its minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2003, is fairly stated, in all material respects, based on the criteria set forth in Appendix I.
/s/Deloitte & Touche
February 16, 2004
Member of Deloitte Touche Tohmatsu
Ex-99.1 (L)
KPMG (logo)
KPMG LLP 2500 Ruan Center 666 Grand Avenue Des Moines, IA 50309
Independent Accountants' Report
The Board of Directors Wells Fargo Home Mortgage, Inc.:
We have examined management's assertion dated February 25, 2004 that Wells Fargo Home Mortgage, Inc. (the Company) complied with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) as of and for the year ended December 31, 2003. Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards specified above and perfonning such other procedures as we consideccd necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2003, is fairly stated, in a11 material respects.
/s/ KPMG LLP
February 25, 2004
KPMG LLP a US limited liability partnership, is the US member of KPMG international a Swiss corporation
Ex-99.1 (m)
[logo kpmg] KPMG LLP 1501 Market Street Philadelphia. PA 19103-2499
Independent Accountants' Report
The Board of Directors wilmington Savings Fund Society, FSB
We have examined management's assertion, included in the accompanying Management Assertion, that Wilmington Savings Fund Society, FSB (the Bank) complied with the minimum servicing Standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers as of and for the year ended December 31, 2003. Management is responsible for the Bank's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Bank's compliance based on our examination.
Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Bank's compliance with the minimum servicing standards specified above and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Bank's compliance with the minimum servicing standards. In our opinion, management's assertion that the Bank has complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2003 is fairly stated, in all material respects.
/s/ KPMG LLP
March 19,2004
(logo) KPMG LLP a U.S. Limited Liabilty partnership in the U.S. Member firm KPMG international a Swiss Coopertive
Ex-99.2 (a)
ABN AMRO Mortgage (Logo)
loan Administration
4242 Norm Harlem Avenue Norridge, Illinois 60706
Management's Assertion on Compliance with the Minimum Servicing Standards Set Forth in the Uniform Single Attestation Program for Mortgage Bankers
Report of Management
We, as members of management of ABN AMRO Mortgage Group, Inc. (AAMG, a wholly owned subsidiary of LaSalle Bank Corporation) are responsible for complying with the servicing standards identified in the attached Exhibit A (the "specified minimum servicing standards") as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP). We are also responsible for establishing and maintaining effective internal control over compliance with these specified minimum servicing standards. We have performed an evaluation of the AAMG's compliance with the specified minimum servicing standards as of December 31, 2003 and for the year then ended. Based on this evaluation, we assert that during the year ended December 31, 2003, the Bank complied, in all material respects, with the specified minimum servicing standards.
As of and for this same period, LaSalle Bank Corporation had in effect a fidelity bond in the amount of $500,OOO,00O and an error and omissions policy in the amount $25,000,000.
/s/ Stanley Rhodes Stanley Rhodes President
/s/ Richard Geary Richard Geary Group Senior Vice President
January 30, 2004
A Division of ABN AMRO Mortgage Group, Inc.
Affiliate Banks: LaSalle Bank N.A. Standard Federal Bank N.A.
Exhibit A
Specified Minimum Servicing Standards
I. Custodial Bank Accounts
1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall:
a. be mathematically accurate;
b. be prepared within forty-five (45) calendar days after the cutoff date. The cutoff date is the date as of which a bank account is reconciled every month. It may, or may not, coincide with a prescribed investor reporting date but shall be consistent from period to period;
c. be reviewed and approved by someone other than the person who prepared the reconciliation; and
d. document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of their original identification.
2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an investor's or a mortgagor's account.
3. Each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor.
4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan.
II. Mortgage Payments
1. Mortgage payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two (2) business days of receipt.
2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted to the applicable mortgagor records within two (2) business days of receipt.
3. Mortgage payments shall be allocated to principal, interest, insurance, taxes or other escrow items in accordance with the mortgagor's loan documents.
4. Mortgage payments identified as loan payoffs shall be allocated in accordance with the mortgagor's loan documents.
Exhibit A
Specified Minimum Servicing Standards (continued)
III. Disbursements
1. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel.
2. Disbursements made on behalf of a mortgagor or investor shall be posted within two (2) business days to the mortgagor's or investor's records maintained by the servicing entity.
3. Tax and insurance payments shall be made on or before the penalty or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such support has been received by the servicing entity at least thirty (30) calendar days prior to these dates.
4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or omission.
5. Amounts remitted to investors per the servicer's investor reports shall agree with cancelled checks, or other form of payment, or custodial bank statements.
6. Unissued checks shall be safeguarded so as to prevent unauthorized access.
IV. Investor Accounting and Reporting
1. The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity.
V. Mortgagor Loan Accounting
1. The servicing entity's mortgage loan records shall agree with, or reconcile to, the records of mortgagors with respect to the unpaid principal balance on a monthly basis.
2. Adjustments on adjustable rate mortgage (ARM) loans shall be computed based on the related mortgage note and any ARM rider.
3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at least an annual basis.
Exhibit A
Specified Minimum Servicing Standards (continued)
V. Mortgagor Loan Accounting (continued)
4. Interest on escrow accounts shall be paid, or credited, to mortgagors in accordance with the applicable state laws.
VI. Delinquencies
1. Records documenting collection efforts shall be maintained during the period a loan is in default and shall be undated at least monthly. Such records shall describe the entity's activities in monitoring delinquent loans including, for example, phone calls, letters and mortgage payment rescheduling plans in cases where the delinquency is deemed temporary (i.e., illness or unemployment).
VII. Insurance Policies
1. A fidelity bond and errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented to investors in management's assertion.
Ex-99.2 (b)
(logo) EverHome MORTGAGE COMPANY
As of and for the year ended December 31, 2003, EverHome Mortgage Company (formerly Alliance Mortgage Company) has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of and for this same period, EverHome Mortgage Company had in effect a fidelity bond and an errors and omissions policy in the amount of $17 million, respectively.
/s/ Gary A. Meeks Gary A. Meeks President & COO 2/25/04
/s/ W. Blake Wilson W. Blake Wilson Executive Vice President & CPO 2/25/04
Ex-99.2 (c)
Cendant Mortgage 3000 Leadhenhall Rd. Mt. Laurel, NJ 08054
CENDANT (logo) Mortgage
As of and for the year ended December 31, 2003, Cendant Mortgage Corporation (the Company) has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of and for this same period, the Company had in effect a fidelity bond and errors and omissions policy in the amount of $140 million and $20 million, respectively.
Cendant Mortgage Corporation
/s/ Terence W. Edwards Terence W. Edwards President and Chief Executive Officer
/s/ Mark Danahy Mark Danahy Senior Vice President & Chief Financial Officer
/s/ Martin L. Foster Martin L. Foster Senior Vice President-Loan Servicing
Ex-99.2 (d)
(logo) CHARTER Bank . Mortgage . Insurance
February 20, 2004
MANAGEMENT'S ASSERTIONS ON COMPLIANCE WITH MINIMUM SERVICING STANDARDS OF UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS
As of and for the year ended December 31, 2003 Charter Bank has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers.
As of and for the same period, Charter Bank has in effect fidelity bond and error and omissions policies in the amounts of $3,500,000 and $3,500,000, respectively.
Sincerely,
Charter Bank
/s/ Russell Cummins Executive Vice President Chief Financial Officer
2130 Eubank Blvd NE P.O. Box 1519 Albuquerque, NM 87192-0519 505-291-3700 (f) 505-296-7998
Ex-99.2 (e)
(logo) Countrywide
4500 Park Granada Calabasas, California 91302 (818) 225-3000
February 27, 2004
Grant Thornton LLP 1000 Wilshire Boulevard Suite 300 Los Angeles, CA 900 17
Gentlemen:
As of and for the year ended December 31. 2003, Countrywide Financial Corporation and Subsidiaries (which includes its wholly-owned subsidiary, Countrywide Home Loans, Inc. ("CHI."), and Countrywide Home Loans Servicing, L.P., a wholly owned subsidiary of CHL) ("the Company") has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation for Mortgage Bankers, except as disclosed in the attached Schedule of Findings to the report. As of and for this same period the Company had in effect a fidelity bond and errors and omissions policy in the amount of $215 million and $240 million respectively.
The Company investigated the matters noted in lhe Schedule of Findings and noted that due to significant increases in volume of activity and staff turn-over, these accounts were being handled by inexperienced staff members. The Company has since increased the number and quality of staff in this area through additional hiring and training. As a result, manngemcnt is not aware of any cuuent USAP violations related to these accounts.
Sincerely.
/s/ Thomas K. McLaughlin Thomas K. McLaughlin Senior Managing Director and Chief Financial Officer
/s/ Kevin Meyers Kevin Meyers Managing Director Finance Loan Administration
COUNTRYWIDE FINANCIAL CORPORATION SCHEDULE OF FINDINGS - USAP DECEMBER 31, 2003
Statement of Condition:
During our testing of the Custodial Cash bank reconciliations, we noted that 1 reconciliation out of 30 reconciliations was not prepared within 45 days of the cutoff date. Additionally, there were 2 reconciliations out of 30 reconciliations that had items outstanding greater than 90 days that could have been cleared earlier. Each of these exceptions did not meet the minimum servicing standards set forth in the Mortgage Banker's Association's Uniform Single Attestation Program for Mortgage Bankers (the USAP).
Criteria:
The Uniform Single Attestation Program for Mortgage Bankers, Section I.1. requirement that reconciliations are mathematically accurate and are prepared within forty-five (45) calendar days after the cutoff date. Reconciling items shall also be resolved within ninety (90) calendar days of their original identification.
Recommendation:
We recommend that the Company prepare Custodial Cash bank reconciliations and clear reconciling items within the minimum time periods specified by the USAP.
Corrective Action Plan:
Due to significant increases in volume of activity and staff turn-over, these accounts were being handled by inexperienced staff members. The Company has since increased the number and quality of staff in this area through additional hiring and training. As a result, the Company is not aware of any current USAP violations related to these accounts.
Ex-99.2 (f)
(Logo) First Indiana Bank
February 27, 2004
KPMG LLP 2400 First Indiana Plaza 135 N. Pennsylvania Street Indianapolis, IN 46204
Dear Members of the Firm:
As of and for the year ended December 31,2003, First Indiana Bank (the "Bank) has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of and for this same year, the Bank has in effect a fidelity bond of $1 0 million per occurrence and a mortgage errors and omissions policy of $3 million.
Very truly yours,
/s/ Maini McKinney Marni McKinney Vice Chairmen Chief Executive Officer
/s/ William J. Bruno William J Bruno senior Vice President Chief Financial Officer
First Indiana Bank, N.A. First Indiana Plaza 135 North Pennsylvania Street Indianapolis, IN 46204 (317) 269-1200
Ex-99.2 (g)
(logo) GMAC Mortgage
Exhibit 1
Managements Assertion Concerning Compliance with USAP Minimum Servicing Standards
March 19,2004
As of and for the year ended December 31, 2003, GMAC Mortgage Corporation and its subsidiaries (the "Company") have complied in all material respects with the minimum servicing standards (the "Standards") set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP").
As of and for this same period the Company had in effect fidelity bond and errors and omissions policies in the amounts of $125,000,000 and $100,000,000, respectively.
/s/ David Applegate David Applegate Chief Executive Officer GMAC Residential Holding Corp
/s/ Ralph Hall Ralph Hall Chief Operating Officer GMAC Residential Holding Corp
Ex-99.2 (h)
Management's Assertion on Compliance with the Specified Minimum Servicing Standards Set Forth in the Uniform Single Attestation Program for Mortgage Bankers
Report of Management
We, as members of management of National City Mortgage Co. (NCM), are responsible for complying with the servicing standards identified in the attached Exhibit A (the specified minimum servicing standards) as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP). We are also responsible for establishing and maintaining effective internal control over compliance with these specified minimum servicing standards. We have performed our evaluation of NCM's compliance with the specified minimum servicing standards as of December 31, 2003 and for the year then ended. Based on this evaluation, we assert that during the year ended December 31, 2003, NCM complied, in all material respects, with the specified minimum servicing standards set forth in the USAP.
As of December 31, 2003 and for the year then ended, NCM had in effect a fidelity bond policy in the amount of $200 million and an errors and omissions policy in the amount of $200 million.
/s/ Steven M. Scheid Steven M. Scheid, Senior Vice President
February 25, 2004
Exhibit A
Specified Minimum Servicing Standards
I. Custodial Bank Accounts
1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall:
a. be mathematically accurate;
b. be prepared within forty-five (45) calendar days after the cutoff date. The cutoff date is the date as of which a bank account is reconciled every month. It may, or may not, coincide with a prescribed investor reporting date but shall be consistent from period to period;
c. be reviewed and approved by someone other than the person who prepared the reconciliation; and
d. document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of their original identification.
2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an investor's or a mortgagor's account.
3. Each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor.
4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan.
II. Mortgage Payments
1. Mortgage payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two (2) business days of receipt.
2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted to the applicable mortgagor records within two (2) business days of receipt.
3. Mortgage payments shall be allocated to principal, interest, insurance, taxes or other escrow items in accordance with the mortgagor's loan documents.
4. Mortgage payments identified as loan payoffs shall be allocated in accordance with the mortgagor's loan documents.
Exhibit A
Specified Minimum Servicing Standards (continued)
III. Disbursements
1. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel.
2. Disbursements made on behalf of a mortgagor or investor shall be posted within two (2) business days to the mortgagor's or investor's records maintained by the servicing entity.
3. Tax and insurance payments shall be made on or before the penalty or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such support has been received by the servicing entity at least thirty (30) calendar days prior to these dates.
4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or omission.
5. Amounts remitted to investors per the servicer's investor reports shall agree with cancelled checks, or other form of payment, or custodial bank statements.
6. Unissued checks shall be safeguarded so as to prevent unauthorized access.
IV. Investor Accouting and Reporting
1. The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity.
V. Mortgagor Loan Accounting
1. The servicing entity's mortgage loan records shall agree with, or reconcile to, the records of mortgagors with respect to the unpaid principal balance on a monthly basis.
2. Adjustments on adjustable rate mortgage (ARM) loans shall be computed based on the related mortgage note and any ARM rider.
3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at least an annual basis.
Exhibit A
Specified Minimum Servicing Standards (continued)
V. Mortgagor Loan Accounting (continued)
4. Interest on escrow accounts shall be paid, or credited, to mortgagors in accordance with the applicable state laws.
VI. Delinquencies
1. Records documenting collection efforts shall be maintained during the period a loan is in default and shall be updated at least monthly. Such records shall describe the entity's activities in monitoring delinquent loans including, for example, phone calls, letters and mortgage payment rescheduling plans in cases where the delinquency is deemed temporary (i.e., illness or unemployment).
VII. Insurance Policies
1. A fidelity bond and errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented to investors in management's assertion.
Ex-99.2 (i)
[LOGO GMAC RFC]
Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards
March 22, 2004
PricewaterhouseCoopers LLP 650 Third Avenue Sout Suite 1300 Minneapolis, MN 55402
As of and for the year ended December 31, 2003, Residential Funding Corporation ("RFC") has complied in all material respects with our minimum servicing standards set forth below for those loans serviced for others under master servicing arrangements. Direct servicing functions are performed by various primary servicers and subservicers.
Our minimum standards are: I. CUSTODIAL BANK ACCOUNTS
A. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall:
1) Be mathematically accurate.
2) Be prepared within thirty (30) calendar days after the cutoff date.
3) Be reviewed and approved by someone other than the person who prepared the reconciliation, and document explanation for reconciling items.
4) These reconciling items shall be resolved within ninety {90} calendar days of their original identification.
GMAC-RFC 8400 Normandale Lake Blvd. Suite 250
GMAC RFC
B. Each custodial and escrow account as maintained by the master servicer and subservicer shall be maintained in an eligible account in trust for the applicable certificateholders as prescribed by applicable pooling and servicing agreements.
C. Funds shall be advanced by the master servicer, the primary servicer or the subservicer, as required by applicable pooling and servicing agreements in accordance with the amortization schedule of each mortgage loan, or for overdrafts in the mortgagers escrow accounts.
II. SUBSERVICER REMITTANCES
A. Remittances for mortgage payments and payoffs received from primary servicers or subservicers shall be deposited into the applicable investor custodial bank account within one business day of receipt.
B. Remittances from primary servicers or subservicers shall be reconciled to applicable mortgager records during the appropriate accounting cycle.
C. Reconciliations shall be performed monthly for each primary servicer and subservicer remittance. These reconciliations shall:
I) Be mathematically accurate.
2) Be prepared within thirty (30) calendar days after the cutoff date.
III. DISBURSEMENTS
A. Disbursements to investors shall be made in accordance with the applicable pooling and servicing agreements and/or the prospectus indicating how cash flows are to be allocated.
B. Amounts remitted to investors per our investor reports shall agree with the custodial bank statements.
C. Only permitted withdrawals per the applicable pooling and servicing agreements shall be made from the custodial accounts for certificateholders.
D. Disbursements of investor funds from custodial accounts via wire transfer shall be made only by authorized personnel.
C GMAC-RFC 8400 Normandale lake Blvd. Suite 250 Minneapolis, MN 55437 952.857.7000 gmacrfc.com
GMAC RPC
IV. INVESTOR ACCOUNTING AND REPORTING
A. Statements to the certificateholders shall be made with each monthly distribution in accordance with applicable pooling and servicing agreements detailing the applicable distribution activity and effect on the unpaid principal balance of the mortgage loans.
V. MORTGAGOR ACCOUNTING
A. Uniform Single Attestation Program reports from external primary servicers or subservicers will be obtained and reviewed to provide a basis in meeting our minimum servicing standards.
B. Mortgage loan records shall agree with, or reconcile to, the mortgage loan records maintained by the primary servicers or subservicers with respect to unpaid principal balance on a monthly basis.
VI. DELINQUENCIES
A. Reports from primary servicers and subservicers identifying delinquent loans shall be received and reviewed monthly. Reports shall be made with each distribution to certificateholders as to the number and aggregate principal balances of delinquent mortgage loans, based on the most recent reports furnished by the primary servicers and subservicers.
VII.INSURANCE POLICES
A. As of and for this same period, RFC had in effect a fidelity bond in the amount of $150,000,000 and a mortgage impairment/mortgages errors and omissions and professional liability insurance policy in the amount of $100,000,000.
GMAC-RFC 8400 Normandale lake Blvd. Suite 250 Minneapolis, MN 55437 952.857.7000 gmacrfc.com
GMAC-RFC
/s/ Bruce Paradis Bruce Paradis Residential Funding Corporation President & Managing Director
/s/ Davee Olson Davee Olson Residential Funding Corporation Chief Financial Officer & Managing Director
/s/Eric Scholtz Eric Scholtz Residential Funding Corpration Managing Director
GMAC-RFC 8400 Normandale lake Blvd. Suite 250 Minneapolis, MN 55437 952.857.7000 gmacrfc.com
Residential Funding Corporation December 31, 2003 Exhibit 1
1985 Series 1992 Series 1993 Series 1995 Series (cont.) (cont.) (cont.) 1985 MS-ASL (1014) 1985 MS-ASL (1034) 1992-S33 1993-S44 1995-J3 1985 MS-ASL (1038) 1992-S34 1993-S45 1995-J4 1985 MS-ASL (1052) 1992-S35 1993-S47 1995-QS1 1985 MS-ASL (1059) 1992-S36 1993-S48 1995-R20 1985 MS-ASL (1060) 1992-S38 1993-S49 1995-R5 1985 MS-ASL (1088) 1992-S39 1993-S6 1995-S1 1992-S41 1993-S7 1995-S10 1992-S43 1993-S9 1995-S11 1986 Series 1992-S44 1993-WH15B 1995-S12 1992-S6 1993-WH15C 1995-S14 1986-A NYCF 1992-S9 1993-WH2 1995-S15 1995-S16 1995-S17 1987 Series 1993 Series 1994 Series 1995-S18 1995-S19 1987-A NYCF 1993-6 1994-MZ1 1995-S21 1987-WH2 1993-J2 1994-S1 1995-S3 1993-J3 1994-S10 1995-S4 1993-MZ1 1994-S11 1995-S6 1988 Series 1993-MZ2 1994-S12 1995-S7 1993-MZ3 1994-S13 1995-S8 1988-A NYCF 1993-S11 1994-S14 1995-S9 1988-SBRC WH1 1993-S12 1994-S15 1995-WH12 1993-S13 1994-S16 1995-WH13 1993-S14 1994-S17 1995-WH14 1989 Series 1993-S15 1994-S18 1995-WH15 1993-S16 1994-S2 1995-WH18 1989-SW1 1993-S17 1994-S3 1995-WH5 1993-S2 1994-S5 1993-S20 1994-S7 1990 Series 1993-S21 1994-S8 1996 Series 1993-S23 1994-S9 1990-A NYCF 1993-S25 1994-WH1 1996-A SANTA 1993-S26 1994-WH14 1996-KS2 1993-S27 1994-WH16D 1996-QS1 1992 Series 1993-S28 1994-WH21 1996-QS2 1993-S29 1994-WH4B 1996-QS3 1992-2 1993-S3 1996-QS4 1992-4 1993-S30 1996-QS5 1992-5 1993-S31 1995 Series 1996-QS6 1992-D 1993-S32 1996-QS7 1992-J1 1993-S34 1995-2 SBMS 1996-QS8 1992-J10 1993-S36 1995-3 SBMS 1996-RHS4 1992-J9 1993-S37 1995-HWH1 1996-S1 1992-S11 1993-S39 1995-HWH2 1996-S10 1992-S16 1993-S40 1995-HWH3 1996-S11 1992-S18 1993-S41 1995-HWH3 1996-S13 1992-S2 1993-S42 1995-HWH4 1996-S14 1992-S20 1993-S43 1995-HWH5 1996-S15 1992-S22 1995-J1 1992-S24 1995-J2 1992-S27 1992-S31 1992-S32
Residential Funding Corporation December 31, 2003 Exhibit 1
1996 Series 1997 Series 1998 Series 1999 Series (cont.) (cont.) (cont.) (cont.)
1996-S17 1997-QS2 1998-QS3 1999-HWH6 1996-S18 1997-QS3 1998-QS4 1999-KS1 1996-S19 1997-QS4 1998-QS5 1999-KS2 1996-S2 1997-QS5 1998-QS6 1999-KS3 1996-S21 1997-QS6 1998-QS7 1999-KS4 1996-S23 1997-QS7 1998-QS8 1999-NWH1 1996-S3 1997-QS8 1998-QS9 1999-NWH2 1996-S4 1997-QS9 1998-QWH1 1999-NWH3 1996-S5 1997-WH10 1998-QWH2 1999-NWH4 1996-S6 1997-WH11 1998-QWH2 1999-NWH5 1996-S7 1997-WH14 1998-RS1 1999-QS1 1996-S8 1997-WH15 1998-S14 1999-QS10 1996-S9 1997-WH5 1998-S16 1999-QS11 1996-SW1A 1997-WH9 1998-S18 1999-QS12 1996-SW1B 1998-S19 1999-QS13 1996-SW1C 1998-S21 1999-QS14 1996-SW1D 1998 Series 1998-S22 1999-QS15 1996-WH10 1998-S23 1999-QS2 1996-WH11 1998-A (1998-B) 1998-S25 1999-QS3 1996-WH18 1998-A SANTA 1998-S26 1999-QS4 1996-WH19 1998-B (1999-A) 1998-S27 1999-QS5 1996-WH4D 1998-HI2 1998-S28 1999-QS6 1996-WH5 1998-HI4 1998-S29 1999-QS7 1996-WH7 1998-HWH1 1998-S30 1999-QS8 1998-HWH2 1998-S31 1999-QS9 1997 Series 1998-HWH3 1998-S4 1999-QWH1 1998-HWH5 1998-S7 1999-QWH2 1997-2 1998-HWH6 1998-WH10 1999-QWH3 1997-A SANTA 1998-HWH7 1998-WH13 1999-RS1 1997-GMACM4 1998-KS1 1998-WH14 1999-RS2 1997-HI1 1998-KS2 1998-WH1E 1999-RS3 1997-HI3 1998-KS3 1998-WH4 1999-RS4 1997-KS1 1998-KS4 1998-WH6 1999-RS5 1997-KS2 1998-NS1 1998-WH8 1999-S1 1997-KS3 1998-NS2 1998-WH9 I 1999-S10 1997-KS4 1998-NWH2 1998-WH9 II 1999-S11 1997-NPC1 1998-NWH4 1999-S12 1997-NWH1 1998-NWH8 1999-S13 1997-NWH3 1998-QS1 1999 Series 1999-S14 1997-NWH4 1998-QS10 1999-S15 1997-NWH5 1998-QS11 1999-HI1 1999-S16 1997-NWH6 1998-QS12 1999-HI4 1999-S17 1997-NWH9 1998-QS13 1999-HI6 1999-S18 1997-QS1 1998-QS14 1999-HI8 1999-S2 1997-QS10 1998-QS15 1999-HWH1 1999-S20 1997-QS11 1998-QS16 1999-HWH2 1999-S22 1997-QS12 1998-QS17 1999-HWH3 1999-S25 1997-QS13 1998-QS2 1999-HWH4 1999-S3 1999-HWH5
Residential Funding Corporation December 31, 2003 Exhibit 1
1999 Series 2000 Series 2001 Series 2001 Series (cont.) (cont.) (cont.) (cont.)
1999-S4 2000-NWH6 2001-HWH2 2001-RS1 1999-S5 2000-NWH7 2001-KS1 2001-RS2 1999-S6 2000-PTWH2 2001-KS2 2001-RS3 1999-S7 2000-PTWH3 2001-KS3 2001-RZ1 1999-S8 2000-QS1 2001-KS4 2001-RZ2 1999-S9 2000-QS10 2001-MWH1 2001-RZ3 1999-WH10 2000-QS11 2001-NWH1 2001-RZ4 1999-WH11 2000-QS12 2001-NWH10 2001-S10 1999-WH12 2000-QS13 2001-NWH11 2001-S11 1999-WH13 2000-QS14 2001-NWH12 2001-S12 1999-WH14 2000-QS2 2001-NWH2 2001-S13 1999-WH18 2000-QS3 2001-NWH3 2001-S14 1999-WH2 2000-QS4 2001-NWH4 2001-S15 1999-WH3 2000-QS5 2001-NWH5 2001-S16 1999-WH4 2000-QS6 2001-NWH9 2001-S17 1999-WH5 2000-QS7 2001-PTWH10 2001-S18 1999-WH7 2000-QS8 2001-PTWH11 2001-S19 1999-WH8 2000-QS9 2001-PTWH12 2001-S20 2000-QWH1 2001-PTWH14 2001-S21 2000-QWH2 2001-PTWH16 2001-S22 2000 Series 2000-RS1 2001-PTWH17 2001-S23 2000-RS2 2001-PTWH18 2001-S24 2000-HI1 2000-RS3 2001-PTWH19 2001-S25 2000-HI2 2000-RS4 2001-PTWH4 2001-S26 2000-HI3 2000-RZ1 2001-PTWH6 2001-S27 2000-HI4 2000-RZ2 2001-PTWH7 2001-S28 2000-HI5 2000-S3 2001-PTWH8 2001-S29 2001-QS1 2001-S4 2000-HL1 2000-WH1 2001-QS10 2001-S9 2000-HS1 2000-WH10 2001-QS11 2001-WH1 2000-HWH1 2000-WH11 2001-QS12 2001-WH10 2000-HWH10 2000-WH12 2001-QS13 2001-WH11 2000-HWH11 2000-WH2 2001-QS14 2001-WH12 2000-HWH2 2000-WH4 2001-QS15 2001-WH13 2000-HWH3 2000-WH5 2001-QS16 2001-WH14 2000-HWH4 2000-WH8 2001-QS17 2001-WH2 2000-HWH5 2000-WH9 2001-QS18 2001-WH3 2000-HWH6 2001-QS19 2001-WH4 2000-HWH7 2001-QS2 2001-WH7 2000-HWH8 2001 Series 2001-QS3 2001-WH9 2000-HWH9 2001-QS4 2000-KS1 2001-CWH1 2001-QS5 2000-KS2 2001-HI1 2001-QS6 2002 Series 2000-KS3 2001-HI2 2001-QS7 2000-KS4 2001-HI3 2001-QS8 2002-HI1 2000-KS5 2001-HI4 2001-QS9 2002-HI2 2000-NWH1 2001-HS1 2001-RM1 2002-HI3 2000-NWH2 2001-HS2 2001-RM2 2002-HI4 2000-NWH3 2001-HS3 2002-HI5 2000-NWH5 2001-HWH1
Residential Funding Corporation December 31, 2003 Exhibit 1
2002 Series 2002 Series 2002 Series 2003 Series (cont.) (cont.) (cont.) (cont.)
2002-HS1 2002-QS12 2002-S8 2003-HS4 2002-HS2 2002-QS13 2002-S9 2003-HWH1 2002-HS3 2002-QS14 2002-SA1 2003-HWH2 2002-HWH1 2002-QS15 2002-SA2 2003-KS1 2002-HWH2 2002-QS16 2002-SL1 2003-KS10 2002-HWH3 2002-QS17 2002-WH1 2003-KS11 2002-HWH4 2002-QS18 2002-WH10 2003-KS2 2002-KS1 2002-QS19 2002-WH11 2003-KS3 2002-KS2 2002-QS2 2002-WH12 2003-KS4 2002-KS3 2002-QS3 2002-WH13 2003-KS5 2002-KS4 2002-QS4 2002-WH14 2003-KS6 2002-KS5 2002-QS5 2002-WH15 2003-KS7 2002-KS6 2002-QS6 2002-WH16 2003-KS8 2002-KS7 2002-QS7 2002-WH17 2003-KS9 2002-KS8 2002-QS8 2002-WH18 2003-NT1 2002-NWH1 2002-QS9 2002-WH19 2003-NT2 2002-NWH2 2002-RM1 2002-WH2 2003-NT3 2002-NWH3 2002-RP1 2002-WH20 2003-NT4 2002-NWH4 2002-RP2 2002-WH21 2003-NT5 2002-PTWH1 2002-RS1 2002-WH22 2003-NT6 2002-WH10 2002-RS2 2002-WH24 2003-NT7 2002-PTWH13 2002-RS3 2002-WH25 2003-NT8 2002-PTWH15 2002-RS4 2002-WH26 2003-NWH1 2002-PTWH16 2002-RS5 2002-WH27 2003-NWH2 2002-PTWH19 2002-RS6 2002-WH28 2003-PTWH1 2002-PTWH20 2002-RS7 2002-WH29 2003-PTWH11 2002-PTWH21 2002-RZ1 2002-WH3 2003-PTWH12 2002-PTWH24 2002-RZ2 2002-WH30 2003-PTWH13 2002-PTWH25 2002-RZ3 2002-WH31 2003-PTWH14 2002-PTWH28 2002-RZ4 2002-WH32 2003-PTWH15 2002-PTWH31 2002-S1 2002-WH33 2003-PTWH17 2002-PTWH33 2002-S10 2002-WH34 2003-PTWH18 2002-PTWH35 2002-S11 2002-WH4 2003-PTWH19 2002-PTWH36 2002-S12 2002-WH5 2003-PTWH20 2002-PTWH4 2002-S13 2002-WH6 2003-PTWH21 2002-PTWH40 2002-S14 2002-WH7 2003-PTWH24 2002-PTWH41 2002-S15 2002-WH8 2003-PTWH25 2002-PTWH42 2002-S16 2002-WH9 2003-PTWH26 2002-PTWH44 2002-S17 2003-PTWH27 2002-PTWH45 2002-S18 2003-PTWH28 2002-PTWH46 2002-S19 2003 Series 2003-PTWH29 2002-PTWH47 2002-S2 2003-PTWH4 2002-PTWH5 2002-S20 2003-HI1 2003-PTWH8 2002-PTWH7 2002-S3 2003-HI2 2003-PTWH9 2002-PTWH9 2002-S4 2003-HI3 2003-QA1 2002-QS1 2002-S5 2003-HI4 2003-QR13 2002-QS10 2002-S6 2003-HS1 2003-QR19 2002-QS11 2002-S7 2003-HS2 2003-QR24 2003-HS3
Residential Funding Corporation December 31, 2003 Exhibit 1
2003 Series 2003 Series 2003 Series (cont.) (cont.) (cont.)
2003-QS1 2003-S14 2003-WH39 2003-QS10 2003-S15 2003-WH4 2003-QS11 2003-S16 2003-WH5 2003-QS12 2003-S17 2003-WH6 2003-QS13 2003-S18 2003-WH7 2003-QS14 2003-S19 2003-WH8 2003-QS15 2003-S2 2003-WH9 2003-QS16 2003-S20 2003-QS17 2003-S3 2003-QS18 2003-S4 2003-QS19 2003-S5 2003-QS2 2003-S6 2003-QS20 2003-S7 2003-QS21 2003-S8 2003-QS22 2003-S9 2003-QS23 2003-SL1 2003-QS3 2003-WH1 2003-QS4 2003-WH10 2003-QS5 2003-WH11 2003-QS6 2003-WH12 2003-QS7 2003-WH13 2003-QS8 2003-WH14 2003-QS9 2003-WH15 2003-RM1 2003-WH16 2003-RM2 2003-WH17 2003-RP1 2003-WH18 2003-RP2 2003-WH19 2003-RS1 2003-WH2 2003-RS10 2003-WH20 2003-RS11 2003-WH21 2003-RS2 2003-WH22 2003-RS3 2003-WH23 2003-RS4 2003-WH24 2003-RS5 2003-WH25 2003-RS6 2003-WH26 2003-RS7 2003-WH27 2003-RS8 2003-WH28 2003-RS9 2003-WH29 2003-RZ1 2003-WH3 2003-RZ2 2003-WH30 2003-RZ3 2003-WH31 2003-RZ4 2003-WH32 2003-RZ5 2003-WH33 2003-S1 2003-WH34 2003-S10 2003-WH35 2003-S11 2003-WH36 2003-S12 2003-WH37 2003-S13 2003-WH38
Ex-99.2 (j)
Wachovia Mortgage Corporation NC1045 401 South Tryon Street, 22nd floor Charlotte NN 28288
800 961-4912
MANAGEMENT ASSERTION WACHOV1A
As of and for the year ended December 31, 2003, Wachovia Mortgage Corporation complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of and for the same period, Wachovia Mortgage Corporation had in effect a fidelity bond and errors and omissions policy in the amount of $200 million and $20 million, respectively.
/s/ C.D. Davies March 26, 2004 C.D. Davies, President Date Chief Executive Officer
/s/Debbie Craig Debbie Craig, Senior Vice President March 26, 2004 Chief Financial Officer Date
/s/ Tim Schuck Time Schuck, Vice President March 26, 2004 Director of Serving Date
Ex-99.2 (k)
(logo) Washington Mutual
MANAGEMENT'S ASSERTION
As of and for the year ended December 31, 2003, Washington Mutual Inc. and Subsidiaries (the Company) has complied, in all material respects, with the Company's established minimum servicing standards for single family residential mortgages as set forth in Appendix I (the Standards). The Standards are based on the Mortgage Banker's Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of and for this same period, the Company had in effect a fidelity bond in the amount of $110 million, and errors and omissions policy in the amount of $20 million.
/s/ Deanna Oppenheimer Deanna Oppenheimer President Consumer Group
/s/ Dyn Beito Dayne Beito Executive Vice President Home Loans Service Delivery - Consumer Group
/s/ Anthony T. Meola Anthony T. Meola Executive Vice President Home Loans Production - Consumer Group
February 16, 2004
(logo) Washington Mutual
Washington Mutual WASHINGTON MUTUAL, INC. AND SUBSIDIARIES
APPENDIX I: MINIMUM SERVICING STANDARDS FOR SINGLE FAMILY RESIDENTIAL MORTGAGES AS SET FORTH IN THE MORTGAGE BANKERS ASSOCIATION OF AMERICA'S UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS
1. CUSTODIAL BANK ACCOUNTS
1. Recol1ciliations shall be prepared on a monthly basis for all custodial bank accountS and related bank clearing accounts. These reconciliations shall:
* be mathematically accurate;
* be prepared within forty-five (45) calendar days after the cutoff date;
* be reviewed and approved by someone other than the person who prepared the reconciliation; and
* document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of their original identification.
2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an investor's or a mortgagor's account.
3. Each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor.
4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan.
II. MORTGAGE PAYMENTS
1. Mortgage payments shall be deposited into the custodial bank accountS and related bank clearing accounts within two business days of receipt.
2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted to the applicable mortgagor records within twO business days of receipt.
3. Mortgage payments shall be allocated to principal, interest, insurance, taxes, or other escrow items in accordance with the mortgagor's loan documents.
4. Mortgage payments identified as loan payoffs shall be allocated in accordance with the mortgagor's loan documents.
III. DISBURSEMENTS
1. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel.
2. Disbursements made on behalf of a mortgagor or investor shall be posted within two business days to the mortgagor's or investor's records maintained by the servicing entity.
(logo) Washington Mutual
3. Tax and insurance payments shall be made on or before the penalty Or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such support has been received by the servicing entity at least thirty (30) calendar days prior to these dates.
4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or omission.
5. Amounts remitted to investors per the servicer's investor reports shall agree with cancelled checks or other form of payment or custodial bank statements.
6. Unused checks shall be safeguarded so as to prevent Unauthorized access.
IV. INVESTOR ACCOUNTING AND REPORTING
1. The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity.
V. MORTGAGOR LOAN ACCOUNTING
1. The servicing entity's mortgage loan records shall agree with, or reconcile to, the records of mortgagors with respect to the unpaid principal balance On a monthly basis.
2. Adjustments on ARM loans shall be computed based on the related mortgage note and any ARM rider.
3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at least an annual basis.
4. Interest On escrow accounts shall be paid, or credited, to mortgagors in accordance with the applicable state laws.
VI. DELINQUENCIES
1. Records documenting collection efforts shall be maintained during the period a loan is in default and shall be updated at least monthly. Such records shall describe the entity's activities in monitoring delinquent loans, including, for example, phone calls, letters, and mortgage payment rescheduling plans in cases where the delinquency is deemed temporary (e.g., illness Or unemployment).
VII. INSURANCE POLICIES
1. A fidelity bond and errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented to investors in management's assertion.
Ex-99.2 (l)
(Logo) WELLS FARGO HOME MORTGAGE
Management Assertion
As of and for the year ended December 31, 2003, Wells Fargo Home Mortgage, Inc, has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers of America's Uniform Single Attestation Program for Mortgage Bankers. As of and for this same period, Wel1s Fargo Home Mortgage, Inc. had in effect a fidelity bond along with an errors and omissions policy in the amounts of $lOO million and $20 million, respectively.
/s/ Pete Wissinger February 25, 2004 Pete Wissinger Chief Executive Officer
/s/ Michael J. Heid February 25, 2004 Michael J. Heid Executive Vice President
/s/ Michael Lepore February 25, 2004 Michael Lepore Executive Vice President Loan Servicing
/s/ Robert Caruso February 25, 2004 Robert Caruso Executive Vice President Servicing Operations
Ex-99.2 (M)
(Logo) WSFS Financial corporation
838 Market Street wilmington Delaware 19801 www.wsfsbank.com
Management Assertion
As of and for the year ended December 31, 2003, Wilmington Savings Fund Society, FSB complied in all material respects with tl1e minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single attestation Program for Mortgage Bankers. As of and for this same period Wilmington Savings Fund Society, FSB had in effect a fidelity bond and errors and omissions policy in the combined amount of $25,000,000.
/s/ Marvin N. Shoenhals Marvin N. Shoenhals Chairman, President and Chief Executive Officer
/s/ Robert F. Mack Robert F. Mack Senior Vice president
MArch 19th 2004
Ex-99.3 (a)
(logo)ABNAMRO Mortgage
Loan Administration
4242 N. Harlem Ave. Norridge, Illinoise 60706
ANNUAL STATEMENT OF COMPLIANCE
The undersigned, an officer of ABN AMRO Mortgage Group, Inc., ("ABN AMRO"), hereby certifies as follows:
1. I have made, or caused to be made under my supervision, review of the activities of ABN AMRO Mortgage Group, Inc, during the preceding calendar year ending December 31,2003, with respect to performance under the Agreement referenced in the attached.
2. To the best of my knowledge, based on such review ABN AMRO has, as of the last day of said preceding calendar year, fulfilled all of its material obligations under said Agreement.
In witness whereof the undersigned has signed this Annual Statement of Compliance on this 1st day of March, 2004.
ABN AMRO Mortgage Group, Inc.
By: /s/ Richard F. Geary Richard F. Geary Group Senior Vice President
A Division of ABN AMRD Mortgage Group. Inc. Affiliate Banks: LaSalle Bank, N.A., Standard Federal Bank, N.A.
Wells Fargo Bank Minnesota, National Association
BAF03002 2003-2 INV. 845 BSL03001 2003-1 INV.740 BST01001 2001-1 INV.601 BST01003 2001-3 INV.740 BSTOIO04 2001-4 INV.601 BST03006 2003-6 INV.837 BST03007 2003-7 INV.837 CIT03001 2003-1 INV.724 MAL03009 2003-9 INV. 849 MLM03A04 2003-A4 INV.836 SAMO3CL1 2003-CLI INV. D72 THB02004 2002-4 INV.795 THB03003 2003-3 INV. 795 WFM03003 INV. 724 WFM03004 INV. 724 WFM03005 INV.724 WFM03006 INV.724 WFM03009 INV.724
Ex-99.3 (b)
Exhibit "A" Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Rd. Columbia, MD 21045 Attention: Master Servicing RE: Officer's Certificate
Dear Master Servicer: The undersigned Officer certifies the following for the 2003 fiscal year:
(A) I have reviewed the activities and performance of the Servicer during the preceding fiscal year under the tenants of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to the best of these Officers' knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there has been a default or failure of the servicer to perform any of such duties, responsibilities or obligations, a description of each default or failure and the nature and status thereof has been reported to Wells Fargo Bank Minnesota, N.A.;
(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing;
(C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the tenets of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide are in full force and effect;
(D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that all such insurance policies are in full force and effect;
(E) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgaged Property, have been paid, or if any such costs or expenses have not been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to Wells Fargo Bank Minnesota, N.A.;
(F) All Custodial Accounts have been reconciled and are properly funded; and
(G) All annual reports of Foreclosure and Abandonment of Mortgage Property required per section 6050H, 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed.
By: /s/ Pam E Rothenberg Name: Pam E Rothenberg Title: Sr. Vice President Date: February 6, 2004
Ex-99.3 (c)
Cendant Mortgage 4001 Leadenhall Road Mt. Laurel, NJ 08054
CENDANT Mortgage (logo)
March 11, 2004
Wells Fargo Bank, N.A. 11000 Broken Land Parkway Columbia, MD 21044
Attn: Mervin E. Horst
RE: Officer's Certificate - Annual Certification
Dear Master Servicer:
The undersigned officer certifies the following for Cendant Mortgage Corp. for the 2003 calendar year. To the best of our knowledge:
a) The activities and performances of the Servicer during the preceding fiscal year under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Servicer Guide and to the best of my knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there has been a default or failure of the Servicer to perform any such duties, responsibilities or obligations, a description of each default or failure and the nature and status thereof has been reported to Bank of NY:
b) The Servicer is currently an approved FNMA or FHLMC Servicer in good standing;
c) The Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Servicer Guide are in full force and effect;
d) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that such insurance policies are in full force and effect;
e) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgage Property, have been paid, or if any such costs or expenses have been paid with respect to any Mortgaged Property, the reason for the non- payment has been reported to Bank of NY:
f) All Custodial Accounts have been reconciled and are properly funded; and
g) All annual reports of Foreclosure and Abandonment of Mortgaged Property required per section 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed.
Certified by:
/s/ Marc J. Hinkle Officer-Marc J. Hinkle
Vice President-Loan Servicing Title
3/11/2004 Date
Ex-99.3 (d)
Charter (Logo) Bank Mortgage Insurance
Wells Fargo Bank Minnesota, N.A. Attn: Master Servicing 11000 Broken Land Parkway Columbia, MD 21044-3562
RE: Officer's Certificate
Dear Master Servicer:
The undersigned Officer certifies the following for the 2003 fiscal year:
(A) I have reviewed the activities and performance of the Servicer during the preceding fiscal year under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to the best of this Officer's knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there has been a material default or failure of the Servicer to perform any such duties, responsibilities or obligations, a description of each failure and the nature and status thereof has been reported to Wells Fargo Bank Minnesota, N .A.;
(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing;
(C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/ Servicer Guide are in full force and effect;
(D) All Premiums for Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that all such insurance policies are in full force and effect;
(E) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgaged Property, have been paid, or if any such costs or expenses have not or if any such cost or expenses have not been paid with respect to any Mortgaged Property, the reason for non-payment has been reported to Wells Fargo Bank Minnesota, N.A.;
(F) All Custodial Accounts have been reconciled and are properly funded; and
(G) All annual reports of Foreclosure and Abandonment of Mortgage Property required per section 6050H, 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed.
Certified By:
CHARTER BANK
/s/ Russell Cummins Russell Cummins Executive Vice President
3/12/04 Date
2130 Eubank Blvd NE P.O. Box 1519 Albuaueraue. NM 87192-0519 505-291-3700 (f) 505-296-7998
Ex-99.3 (e)
(Logo) Countrywide HOME LOANS
400 Countrywide Way, SV-44 Simi Valley, California 93065-6298
(805) 520-5100
March 18, 2004
Norwest Bank Minn., N.A. 11000 Brokenland Parkway Columbia, MD 21004
ARM: Karen Chapple
OFFICER'S CERTIFICATE
I, Joseph Candelario, hereby certify that I am the First Vice President, Loan Administration of Countrywide Home Loans, Inc., fka Countrywide Funding Corporation. I further certify, with respect to the Servicing Agreements for Countrywide Mortgage Obligations, Inc., the following:
I have reviewed the activities and performance of the Servicer during the fiscal year ended December 31, 2003 under the Agreements and, to the best of my knowledge, based on my review, the Servicer has fulfilled all of its duties, responsibilities or obligations under the Agreements throughout the fiscal year.
/s/ Joseph Candelario Joseph Candelario First Vice President Compliance Officer Loan Administrator
3/18/04 Date
Re: Investor Number 5
Ex-99.3 (f)
[Logo] First Indiana Bank Exhibit "A"
Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Rd. Columbia, MD 21045 Attention: Master Servicing
RE: Officer's Certificate
Dear Master Servicer:
The undersigned Officer certifies the following for the 2003 fiscal year:
(A) I have reviewed the activities and performance of the Servicer during the preceding fiscal year under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to the best of these Officers' knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there has been a default or failure of the servicer to perform any of such duties, responsibilities or obligations, a description of each default or failure and the nature and status thereof has been reported to Wells Fargo Bank Minnesota, N.A.;
(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing;
(C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide are in full force and effect;
(D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that all such insurance policies are in full force and effect;
(E) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgaged Property, have been paid, or if any such costs or expenses have not been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to Wells Fargo Bank Minnesota, N.A.;
(F) All Custodial Accounts have been reconciled and are properly funded; and
(G) All annual reports of Foreclosure and Abandonment of Mortgage Property required per section 6050H, 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed.
Certified by:
/S/ Marlene Kloss
Vice President
February 13. 2004
First Indiana Bank, N .A. First Indiana Plaza 135 North Pennsylvania Street Indianapolis, IN 46204 (317) 269-1200
Ex-99.3 (g)
(logo) GMAC Mortgage
March 15, 2004
Wells Fargo Bank, NA Attn: Kim Wiggins 9062 Old Annapolis Road Columbia, MD 21045-1951
Re: Officers Statement of Compliance Year Ending 2003 Wells Fargo Master Serviced Deals
We hereby certify to the best of our knowledge and belief, that for the calendar year 2003:
1. A review of the activities of the Seller / Servicer and of performance according to the Seller / Servicer contract has been made with the undersigned Officer's knowledge.
2. To the best of the undersigned Officer's knowledge, and based on such review, the Seller/ Servicer has fulfilled all its obligations under the Guides for such year.
3. If applicable, GMACM has filed the information returns with respect to the receipt of mortgage interest pursuant to Sections 6050H, 6050J and 6050P of the Code, received in a trade or business, reports of foreclosures and abandonment's of any Mortgaged Property and the information returns relating to cancellation of indebtedness income with respect to any Mortgaged Property.
4. All hazard, flood, FHA mortgage insurance and primary mortgage insurance premiums, taxes, ground rents, assessments and other lienable items have been paid in connection with the mortgaged properties.
5. All property inspections have been completed as required.
6. Compliance relative to Adjustable Rate Mortgages has been met.
7. Fidelity Bond and Errors and Omissions Insurance coverage is current, in full force and effect.
Servicer: GMAC Mortgage Corporation
By: /s/ Michael Kacergis
Name: Michael Kacergis
Title: Manager, Operations Risk Management
GMAC Mortgage Corporation 500 Enterprise Road Horsham, PA 19044
Ex-99.3 (h)
National City Mortgage Co. 232 Newmark Drive. Miamisburg, Ohio 45342 Mortgage Telephone (937) 910-1200
Mailing Address: P.O. Box 1820 Dayton, Ohio 45401-1820
EMC C/o Wells Fargo Bank Minnesota NA Attn: Mike Williams 9062 Old Annapolis Road Columbia, Maryland 21045
RE: Officer's Certification -National City Mortgage Investor Number 436
Dear Master Servicer:
The undersigned Officer certifies the following for the 2003 fiscal year:
a. I have reviewed the activities and performance of the Servicer during the preceding fiscal year under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to the best of this Officer's knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there has been a default or failure of the servicer to perform any of such duties, responsibilities or obligations, a description of each default or failure and the nature and status thereof has been reported to EMC c/o Wells Fargo Bank Minnesota NA;
b. I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing;
c. I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide are in full force and effect;
d. All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that all such insurance policies are in full force and effect;
e. All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgaged Property, have been paid, or if any such costs or expenses have not been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to EMC c/o Wells Fargo Bank Minnesota NA;
f. All custodial accounts have been reconciled and are properly funded; and
g. All annual reports of Foreclosure and Abandonment of Mortgaged Property required per section 6050H, 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed.
Certified By: /s/ Mary Beth Criswell Officer Mary Beth Criswell
Vice President Title
February 13, 2004 Date
No one Cares More!
Ex-99.3 (i)
GMAC RFC
2003 ANNUAL STATEMENT OF COMPLIANCE CERTIFICATE
Pursuant to the governing documents including, but not limited to various Pooling and Servicing Agreements, Indentures, Trust Agreements and Sales and Servicing Agreements ("the Agreements"), where Residential Funding Corporation ("the Master Servicer") has been appointed Master Servicer, and an annual statement of compliance is required to be delivered to either the Trustee or the Investor. The undersigned Managing Director and Director of Residential Funding Corporation, hereby certify that:
(i) a review of the activities of the Master Servicer during the proceeding calendar year has been conducted, and the performance of the duties outlined in the Agreements has been made under the undersigned officers supervision.
(ii) to the best of the undersigned officers knowledge, based on the aforementioned review, the Master Servicer has complied with the minimum servicing standards set forth in the USAP for Mortgage Bankers, and has fulfilled its obligations relating to the Agreements in all material respects throughout such year; and
(iii) to the best of the undersigned officers' knowledge, each Subservicer has complied with the minimum servicing standards set forth in the USAP for Mortgage Bankers, and has fulfilled all of its material obligations relating to the Agreements in all material respects throughout such year; and
(iv) to the best of the undersigned officers' knowledge, each Subservicer has fulfilled its obligations under the servicing agreement with respect to Section 6050H, 6050J and 6050P of the Internal Revenue Code with respect to the reporting of foreclosures and abandonment of Mortgage Properties.
Dated: March 26, 2004 /s/ Barbara Wendt Barbara Wendt Managing Director, Master Servicing
/s/ Darsi Meyer Darsi Meyer Director, Securities Administration
GMAC.RFC 2255 North Ontario Street Suite 400 Burbank, CA 91504 818.260.1400 gmacrfc.com
Ex-99.3 (j)
Wachovia Bank, N.A. NC4755 1100 Corporate Center Drive Raleigh, NC 27607
(logo)Wachovia
Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Rd. Columbia, MD 21045 Attention: Master Servicing
RE: Officer's Certificate
Dear Master Servicer:
The undersigned Officer certifies the following for the 2003 fiscal year:
(A) I have reviewed the activities and performance of the Servicer during the preceding fiscal year under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to the best of these Officers' knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there had been a default or failure of the servicer to perform any of such duties, responsibilities or obligations, a description of each default or failure and the nature and status thereof has been reported to Wells Fargo Bank Minnesota, N.A.;
(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing;
(C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide are in full force and effect;
(D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that all such insurance policies are in full force and effect;
(E) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgaged Property, have been paid, or if any such costs or expenses have not been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to Wells Fargo Bank Minnesota, N.A.;
(F) All Custodial Accounts have been reconciled and are properly funded; and
(G) All annual reports of Foreclosure and Abandonment of Mortgage Property required per section 6050H, 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed.
Certified By:
/s/ Richard Z. Grimm Richard Z. Grimm Vice President March 9, 2004
Ex-99.3 (k)
OFFICER'S CERTIFICATE ANNUAL STATEMENT OF COMPLIANCE
Reference is hereby made to Bear Steams ARM Trust, Mortgage Pass- Through Certificates, Series 2001-1, 2001-3, 2001-4, 2001-5, 2001-6,2001-10,2002-7, 2002-12,2003-1,2003-3 and 2003-8; Bear Steams Asset Backed Securitizations, Mortgage Pass-Through Certificates, Series 2003-SD1 and 2003-SD2; Bear Stearns ALT -A Trust, Mortgage Pass-Through Certificates, Series 2003-1, 2003-4 and 2003-7, Structured Mortgage Investments, Inc. Mortgage Pass-Through Certificates, Series 1999- 1, and E*Trade ARM Trust Series 2001-1 (each, a the "Securitization"). Washington Mutual Bank, FA (the "servicer") services mortgage loans in connection with the Securitizations (the "Mortgage Loal1s") pursuant to the tenants of a Servicing Agreement dated as of April I, 2001 (as amended from time to time or replaced, with respect to a Securitization, by a reconstituted servicing agreement or other successor servicing agreement, the "Servicing Agreement") by and between the Servicer, in its capacity as servicer, and EMC Mortgage Corporation, as Owner (the "Owner"). This certificate is made pursuant to Section 4.4(a) of the Servicing Agreement.
I, Pattie Stevens, an authorized officer of the Servicer, certify for the benefit of any master servicer of any of the Mortgage Loans (each a "Master Servicer") and any entity which is the depositor of the Mortgage Loans (each, a "Depositor") with respect to the calendar year immediately preceding the date of this Officer's Certificate (the "Relevant year"), as follows:
I. A review of the activities of the Servicer during the Relevant Year and of performance under the Servicing Agreements has been made under my supervision, and
2. To the best of my knowledge, based on such review, the Servicer has fulfilled all of its obligations under the Servicing Agreements throughout the Relevant Year.
DATED as of March 15, 2004.
/s/ Pattie Stevens Name: Pattie Stevens Title: Senior Vice President
Ex-99.3 (l)
Wells Fargo Home Mortgage (logo)
One Home Campus Des Moines, IA 50328-0001 515-213-5469 515-213-7121 Fax
January 30, 2004
Re: 2003 Annual Certification
We hereby certify to the best of our knowledge and belief that for the calendar year of 2003:
1. All real estate taxes, bonds assessments and other lienable items have been paid.
2. All FHA mortgage insurance, private mortgage insurance premiums, and flood insurance have been paid (if applicable).
3. Hazard insurance policies held by us meet the requirements as specified in the servicing agreement, or those of a normal prudent lender if not specified, and those premiums due have been paid.
4. We have made all property inspections as required.
5. Fidelity bond and Errors and Omissions insurance coverage currently exists.
6. That the Officer signing this certificate has reviewed the activities and performance of the Servicer during the preceding fiscal year under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide or similar agreements and to the best of this officer's knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations of such agreement throughout the year, or if there has been a default or failure of the servicer to perform any of such duties, responsibility or obligations, a description of each default or failure and the nature and status thereof has been reported.
Sincerely,
/s/ John B. Brown John B. Brown Vice President Wells Fargo Home Mortgage Inc.
Ex-99.3 (m)
We1ls Fargo Bank Minnesota, N.A. 9062 Old Annapolis Rd. Columbia, MD 21045 Attention: Master Servicing:
Officer's certificate
Dear Master Servicer:
The undersigned Officer certifies the following for the 2003 fiscal year:
(A) I have reviewed the activities and performance of the Servicer during the preceding fiscal Year under the terms of the Servicing agreement, trust Agreement .at, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to the best of tl1ese Officers' knowledge) the Servicer has fulfilled all of its duties, responsibilities or obligations under the Agreements throughout such year, or if there has been a default or failure of the Servicer to perform any of Such duties, responsibilities or obligations, a description of each default or failure and the nature and Status thereof been reported to Wells Fargo Bank of Minnesota N.A.;
(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing;
(C) I have confirmed that the Fidelity Bond, the Errors and Omissions insurance Policy and any other bonds required under the terms of the Servicing Agreement Trust Agreement, Pooling and Servicing Agreement and Seller/Servicer' Guide are in full force and effect;
(D) All premiums for each Hazard insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that and such insurance policies are in full force and effect;
(E) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or embrace on any Mortgaged Property, have been paid, or if any such costs or expanses have not been paid with respect to any Mortgaged property) the reason for the non-payment has been reported to Wells Fargo Bank Minnesota, N.A.;
(F) All Custodial Accounts have been reconciled and are properly funded; and
(G) All annual reports of Foreclosure and Abandonment of mortgage Property required per section 6050H, 6050J and 6050P of the Internal Revenue Code, respective1y, have been prepared and filed.
Certified By /s/ Linda S. Stewart Loan Operations Manager Title March 29,2004 Date
Ex-99.4 Schedule of Year-To-Date Principal and Interest Distributions to Certificateholders