Exhibit 99.2

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Ernst & Young LLP
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Los Angeles, California  90017-5418

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Report on Management's Assertion on
Compliance with the Specified Minimum Servicing Standards set Forth in the
Uniform Single Attestation Program for Mortgge Bankers

Report of Independent Accountants

Board of Directors
IndyMac Bank, F.S.B.

We have examined management's assertion, included in the accompanying
report titled Report of Management, that IndyMac Bank, F.S.B. (the Bank
 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
Attestation Program for Mortgage Bankers (USAP) during the year ended
December 31, 2003.  Management is responsible for the Bank's compliance
with those specified 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, including 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 specified minimum servicing
standards.

In our opinion, management's assertion that the Bank complied
with the aforementioned minimum servicing standards during the
year ended December 31, 2003 is fairly stated, in all material
respects.


/s/:  Ernst & Young LLP
      Ernst & Young LLP

January 23, 2004


A Member Practice of Ernst & Young Global




IndyMac Bank company logo here

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 IndyMac Bank, F.S.B. (the Bank), are
responsible for complying with the servicing standards identified in
the attached Exhibit A (the "specified minimumservicing 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 Bank'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 December 31, 2003 and for the year then ended, the Bank had in
effect a fidelity bond in the amount of $40,000,000 and an errors and
omissions policy in the amount of $20,000,000.

/s/:  Michael W. Perry
      Michael W. Perry
      Chairman and
      Chief Executive Officer

/s/:  Scott Keys
      Scott Keys
      Executive Vice President and
      Chief Financial Officer

/s/:  Tony Ebers
      Tony Ebers
      Executive Vice President
      Home Loan Servicing

/s/:  Jeff Lankey
      Jeff Lankey
      Senior Vice President and
      Chief Accounting Officer

January 23, 2004


155 North Lake Avenue
Pasadena, California  91101
Telephone:  626-535-5555
www.indymacbank.com



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, concide 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.


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 canceled checks, or other form of payment, or custodial bank
   statements.

6. Unused checks shall be safeguard 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.

4. Interest on escrow accounts shall be paid, or credited, to mortgagors
   in accordance with the applicable state laws.

V. 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).

VI. 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.