Issuance of Securities:
The Securities, other than the Residual Securities, will initially be
issued in book-entry form through the book-entry system of the U.S. Federal Reserve Banks (the
"Fedwire Book-Entry System"). The Residual Securities will be issued in fully registered,
certificated form. See "Description of the Securities Form of Securities" in this Supplement.
Increased Minimum Denomination Classes:
Classes XA and XB. See "Description of the
Securities Form of Securities" in this Supplement.
Interest Rates:
The Interest Rates for the Fixed Rate Classes are shown on the inside cover
page of this Supplement.
The Weighted Average Coupon Classes will bear interest at per annum Interest Rates based
on the Weighted Average Certificate Rate of the Ginnie Mae Multifamily Certificates (hereinaf-
ter referred to as "WACR") as follows:
Class D will bear interest during each Accrual Period at a per annum rate equal to the lesser
of WACR and 4.927%.
Class E will bear interest during each Accrual Period at a per annum rate equal to the lesser
of WACR and 5.301%.
Class F will bear interest during each Accrual Period at a per annum rate equal to the lesser
of WACR and 5.191%.
Class G will bear interest during each Accrual Period at a per annum rate equal to the lesser
of WACR and 5.499%.
Class XA will bear interest during each Accrual Period at a rate per annum determined as
follows:
(a) from and including the August 2003 Accrual Period through and including the July
2004 Accrual Period, the rate per annum equal to WACR less the weighted average of
the following rates: (i) for the First Class A Notional Contribution and Classes B, C, D,
E, F and G, the lesser of WACR and the applicable interest rate from the Interest Rate
Schedule for that Accrual Period and (ii) for the Class A Principal Balance less the
First Class A Notional Contribution, the Class A Interest Rate, with each such interest
rate weighted based on the Class Principal Balance (or portion thereof) or Class No-
tional Contribution, as applicable, of each such Class for the related Distribution Date
(before giving effect to any payments on such Distribution Date);
(b) from and including the August 2004 Accrual Period through and including the July
2005 Accrual Period, the rate per annum equal to WACR less the weighted average of
the following rates: (i) for the Second Class A Notional Contribution and Classes B, C,
D, E, F and G, the lesser of WACR and the applicable interest rate from the Interest
Rate Schedule for that Accrual Period and (ii) for the Class A Principal Balance less
the Second Class A Notional Contribution, the Class A Interest Rate, with each such
interest rate weighted based on the Class Principal Balance (or portion thereof) or
Class Notional Contribution, as applicable, of each such Class for the related Distribu-
tion Date (before giving effect to any payments on such Distribution Date);
(c) from and including the August 2005 Accrual Period through and including the July
2006 Accrual Period, the rate per annum equal to WACR less the weighted average of
the following rates: (i) for the First Class B Notional Contribution, the First Class C
Notional Contribution and Classes D, E, F and G, the lesser of WACR and the
applicable interest rate from the Interest Rate Schedule for that Accrual Period and
(ii) for (x) Class A, (y) the Class B Principal Balance less the First Class B Notional
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