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American General Mrt Ln Asst Bckd Ps Thr Crts Sr 20031 (1236961) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2003

American General Mrt Ln Asst Bckd Ps Thr

CIK: 1236961

10-K
1
amgen200301_10k.txt


                               ------------------
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                               ------------------


                                    FORM 10-K

[X]    Annual  report  pursuant  to  Section  13 or  15(d)  of the Securities
       Exchange Act of 1934 for the fiscal year ended December 31, 2003

[ ]    Transition report pursuant to Section 13 or 15(d) of the
       Securities Exchange Act of 1934 for the transition period from __  to __


                        Commission File Number 333-87146-01

                            Bond Securitization, LLC
             on behalf of itself and the Trust described below with
                      respect to which it is the depositor
             (Exact name of registrant as specified in its charter)


         Delaware                                       30-0183660
 (State or other jurisdiction of               (IRS Employer Identification No.)
       incorporation)


        Evansville, IN                                    47708
(Address of principal executive offices)                (Zip Code)

Registrant's telephone number, including area code :  (812) 424-8031

                  American General Mortgage Loan Trust 2003-1,
             Mortgage Loan Asset Backed Certificates, Series 2003-1
              issued by American General Mortgage Loan Trust 2003-1
            (Title of each class of securities covered by this Form)

Securities registered pursuant to Section 12(b) of the Act:  None
Securities registered pursuant to Section 12(g) of the Act:  None

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]

Indicate by check mark whether the registrant is an accelerated filer (as
defined in Exchange Act Rule 12b-2). Yes  No [X]

                   Documents incorporated by reference: None






Bond Securitization LLC
American General Mortgage Loan Trust Series 2003-1
Mortgage Loan Asset Backed Pass Through Certificates, Series 2003-1
-----------------------------------------------------------------------

PART I

Item 1. Business

        Not applicable.

Item 2. Properties

        Not applicable.

Item 3. Legal Proceedings

        The Registrant is not aware of any material legal  proceeding  with
        respect to itself, the Servicer or the Trustee, as related to the Trust.

Item 4. Submission of Matters to a Vote of Security Holders

        No matter was submitted to a vote or consent of  Holders of the Offered
        Certificates during the fiscal year covered by this report.

PART II

Item 5. Market for Registrant's Common Equity and Related Stockholder Matters

        There is currently no established public trading market for the
        certificates issued by the Trust.

        There are less than 300 participants in the DTC System.
        As of December 31, 2003 the total number of such DTC participants
        with respect to each class of certificates is set forth below:

        Class     A-1                   5
        Class     A-2                   11
        Class     A-3                   2
        Class     M-1                   3
        Class     M-2                   2


Item 6. Selected Financial Data

        Not applicable.

Item 7. Management's Discussion and Analysis of Financial condition and
        Results of Operations

        Not applicable.

Item 8. Financial Statements and Supplementary Data

        Not applicable.

Item 9. Changes in and Disagreements with Accountants on Accounting and
        Financial Disclosure

       There was no change of accountants or disagreement with accountants on
       any matter of accounting principles or practices or financial disclosure.


                                      -2-



PART III

Item 10. Directors and Executive Officers of the Registrant

        Not applicable.

Item 11. Executive Compensation

        Not applicable.

Item 12. Security Ownership of Certain Beneficial Owners and Management

     The certificates are represented by one or more certificates  registered in
     the name of Cede & Co.,  the nominee of The  Depository  Trust  Company.  A
     beneficial  owner of  certificates  is not entitled to receive a definitive
     certificate    representing   such   certificates,    except   in   limited
     circumstances.  Accordingly, Cede & Co. is the sole holder of certificates,
     which it holds on behalf of brokers,  dealers, banks and other participants
     in the DTC system.  Such  participants may hold  certificates for their own
     accounts or for the accounts of their customers.

     The address of Cede & Co. is:
     Cede & Co.
     c/o The Depository Trust Company
     Seven Hanover Square
     New York, New York  10004

Item 13. Certain Relationships and Related Transactions

         No reportable transactions have occurred.

Item 14. Principal Accounting Fees and Services

         Not applicable.

PART IV


Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K

(a) The following documents are filed as part of this report:

    (1) Financial Statements:
         Omitted.

    (2)  Financial Statement Schedules:
         Omitted.

    (3)  Exhibits:

   Rule 13a-14(a)/15d-14(a) Certification filed  as Exhibit 33.1 hereto.
   Annual Summary Statement filed as Exhibit 99.1 hereto.
   Annual Independent Accountant's Report filed as Exhibit 99.2 hereto.

(b) Reports on Form 8-K: The following  Current Reports on Form 8-K with respect
    to the Trust were filed by the Registrant for 2003.

     Current Reports on Form 8-K dated June 25, 2003, July 25, 2003,  August 25,
2003,  September 25, 2003, October 27, 2003, November 25, 2003, and December 26,
2003 were  filed for the  purpose of filing the  Monthly  Statement  sent to the
Holders of the Offered  Certificates  for  payments  made on the same date.  The
items reported in such Current Report were Item 5 and Item 7.

(c)  Exhibits to this report are listed in Item (15)(a)(3) above.

(d) Not applicable.

                                      -3-



Bond Securitization LLC
American General Mortgage Loan Trust 2003-1
Mortgage Loan Asset Backed Pass Through Certificates, Series 2003-1
-------------------------------------------------------------------------------

SIGNATURE

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the Servicer of the Trust has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.


                       American General Finance Corporation, as Servicer of the
                       American General Mortgage Loan Trust 2003-1

                   By:  /s/ Bryan A. Binyon
                        --------------------------------------
                   Name:    Bryan A. Binyon
                   Title:   Vice President and Treasurer

                   Date:  May 5, 2004


                                      -4-




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

The  registrant  has not sent an annual report or proxy material to its security
holders.  The registrant  will not be sending an annual report or proxy material
to its security holders subsequent to the filing of this form.

                                      -5-




                                 EXHIBIT INDEX

Exhibit     Description

 31.1       Rule 13a-14(a)/15d-14(a) Certification
 99.1       Annual Summary Statement
 99.2       Annual Independent Accountant's Report


                                      -6-


                                  EXHIBIT 31.1
                     Rule 13a-14(a)/15d-14(a) Certification
                          ---------------------------

                          SARBANES-OXLEY CERTIFICATION


I, Bryan A. Binyon , 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 American General Mortgage
Loan Trust 2003-1;

     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 servicer
under the  pooling  and  servicing,  or  similar,  agreement  and based  upon my
knowledge and the annual  compliance  review required under that agreement,  and
except as disclosed in the reports,  the 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:  JPMorgan Chase Bank, as
Trust Administrator.

                   By:  /s/ Bryan A. Binyon
                        --------------------------------------
                 Name:  Bryan A. Binyon
              Company:  American General Finance Corporation, as Servicer
                Title:  Vice President and Treasurer

                 Date:  May 5, 2004

                                      -7-


                                  EXHIBIT 99.1
                            Annual Summary Statement

       

---------------------------------------------------------------------------------------------------------------------------------
CLASS      CUSIP         ORIGINAL          PAID               PAID              TOTAL PAID      ENDING PRIN     CERT POOL FACTOR
                        PRINCIPAL        PRINCIPAL           INTEREST                           BALANCE       (12/26/03 Per 1000)
---------------------------------------------------------------------------------------------------------------------------------
AGen031  02639MAA4   $146,500,000.00   $ 81,213,044.00       $   814,731.91     $ 82,027,775.91    $ 65,286,956.00      445.64475100
AGen031  02639MAB2   $ 34,000,000.00   $          0.00       $   503,766.67     $    503,766.67    $ 34,000,000.00    1,000.00000000
AGen031  02639MAC0   $ 44,820,000.00   $          0.00       $ 1,053,643.50     $  1,053,643.50    $ 44,820,000.00    1,000.00000000
AGen031  02639MAD8   $ 16,190,000.00   $          0.00       $   402,321.50     $    540,455.97    $ 16,190,000.00    1,000.00000000
AGen031  02639MAF3   $ 15,550,000.00   $          0.00       $   425,422.08     $    425,422.08    $ 15,550,000.00    1,000.00000000
------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------
TOTAL TRUST ADMINISTRATOR FEE 2003              $ 20,732.49

TOTAL SERVICING FEE 2003                        $664,502.77
--------------------------------------------------------

-8- EXHIBIT 99.2 Annual Independent Accountant's Report --------------- PricewaterhouseCoopers LLP Chicago, Illinois 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 To the Board of Directors of American General Finance Corporation: We have examined management's assertion about American General Finance Corporation's (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 (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 Company's compliance based on our examination. Our examination was made in accordance with attestation standards established by the American Institute of Certified Pubic 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. PricewaterhouseCoopers LLP February 13, 2004 Exhibit I American General Finance Corporation Management's Assertion on Compliance With Minimum Servicing Standards Set Forth in the Uniform Single Attestation Program for Mortgage Bankers Report of Management Pursuant to the Pooling and Servicing Agreement dated as of May 1, 2003 and for period ended December 31, 2003, American General Finance 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. For this same period, the Company had in effect a fidelity bond and an errors and omissions policy in the amounts of $2,500,000 per single loss and $1,000,000, respectively. /s/ Bryan A. Binyon ------------------------ Bryan A. Binyon Vice President and Treasurer February 13, 2004 -9-

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CIK: 1236961
Form Type: 10-K Annual Report
Accession Number: 0001051170-04-000348
Submitted to the SEC: Wed May 05 2004 1:45:55 PM EST
Accepted by the SEC: Wed May 05 2004
Period: Wednesday, December 31, 2003
Industry: Asset Backed Securities

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