<PAGE>

                                  EXHIBIT 10.1

CONTACT: CUSTOMER SERVICES -- CTSLINK
         WELLS FARGO BANK MINNESOTA, N.A.
         SECURITIES ADMINISTRATION SERVICES
         7485 NEW HORIZON WAY
         FREDERICK, MD  21703
         WWW.CTSLINK.COM
         TELEPHONE:        (301) 815-6600
         FAX:              (301) 315-6660

                                SMT SERIES 2002-7
                          RECORD DATE: OCTOBER 31, 2002
                      DISTRIBUTION DATE: NOVEMBER 20, 2002

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------
                           Certificate      Certificate        Beginning
                              Class         Pass-Through      Certificate        Interest
Class          CUSIP       Description          Rate            Balance        Distribution
--------------------------------------------------------------------------------------------
<S>          <C>           <C>              <C>             <C>                <C>
  A          81743YAA5         SEN               2.17000%   528,871,384.15        956,375.75
 A-R         SMT0207AR         SEN               3.54181%             0.00              0.00
 B-1         81743YAE7         SUB               2.58000%     8,080,000.00         17,372.00
 B-2         81743YAF4         SUB               3.42362%     5,771,000.00         16,464.74
 B-3         81743YAG2         SUB               3.42362%     3,463,000.00          9,879.99
 B-4         SMT0207B4         SUB               3.42362%     1,442,000.00          4,114.05
 B-5         SMT0207B5         SUB               3.42362%     1,154,000.00          3,292.38
 B-6         SMT0207B6         SUB               3.42362%     2,600,498.71          7,419.26
 X-1         81743YAC1         SEN               1.06418%             0.00         81,847.55
 X-2         81743YAD9         SEN               1.28549%             0.00        476,345.54
--------------------------------------------------------------------------------------------
Totals                                                      551,381,882.86      1,573,111.26
--------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                                Ending
             Principal         Current        Certificate         Total          Cumulative
Class      Distribution     Realized Loss       Balance        Distribution     Realized Loss
----------------------------------------------------------------------------------------------
<S>        <C>              <C>              <C>               <C>              <C>
  A         4,646,837.56              0.00   524,224,546.59      5,603,213.31             0.00
 A-R                0.00              0.00             0.00              0.00             0.00
 B-1                0.00              0.00     8,080,000.00         17,372.00             0.00
 B-2                0.00              0.00     5,771,000.00         16,464.74             0.00
 B-3                0.00              0.00     3,463,000.00          9,879.99             0.00
 B-4                0.00              0.00     1,442,000.00          4,114.05             0.00
 B-5                0.00              0.00     1,154,000.00          3,292.38             0.00
 B-6                0.00              0.00     2,600,498.71          7,419.26             0.00
 X-1                0.00              0.00             0.00         81,847.55             0.00
 X-2                0.00              0.00             0.00        476,345.54             0.00
----------------------------------------------------------------------------------------------
Totals      4,646,837.56              0.00   546,735,045.30      6,219,948.82             0.00
----------------------------------------------------------------------------------------------
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------
                               Beginning       Scheduled      Unscheduled
           Original Face      Certificate      Principal       Principal
Class         Amount            Balance       Distribution   Distribution     Accretion
---------------------------------------------------------------------------------------
<S>        <C>               <C>              <C>            <C>              <C>
  A        554,686,000.00    528,871,384.15      1,756.88     4,645,080.68         0.00
 A-R               100.00              0.00          0.00             0.00         0.00
 B-1         8,080,000.00      8,080,000.00          0.00             0.00         0.00
 B-2         5,771,000.00      5,771,000.00          0.00             0.00         0.00
 B-3         3,463,000.00      3,463,000.00          0.00             0.00         0.00
 B-4         1,442,000.00      1,442,000.00          0.00             0.00         0.00
 B-5         1,154,000.00      1,154,000.00          0.00             0.00         0.00
 B-6         2,600,498.71      2,600,498.71          0.00             0.00         0.00
 X-1                50.00              0.00          0.00             0.00         0.00
 X-2                50.00              0.00          0.00             0.00         0.00
---------------------------------------------------------------------------------------
Totals     577,196,698.71    551,381,882.86      1,756.88     4,645,080.68         0.00
---------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
           Realized       Total Principal   Ending Certificate   Ending Certificate   Total Principal
Class      Loss (1)          Reduction           Balance               Percentage        Distribution
-----------------------------------------------------------------------------------------------------
<S>        <C>            <C>               <C>                  <C>                  <C>
  A              0.00       4,646,837.56      524,224,546.59          0.94508343       4,646,837.56
 A-R             0.00               0.00                0.00          0.00000000               0.00
 B-1             0.00               0.00        8,080,000.00          1.00000000               0.00
 B-2             0.00               0.00        5,771,000.00          1.00000000               0.00
 B-3             0.00               0.00        3,463,000.00          1.00000000               0.00
 B-4             0.00               0.00        1,442,000.00          1.00000000               0.00
 B-5             0.00               0.00        1,154,000.00          1.00000000               0.00
 B-6             0.00               0.00        2,600,498.71          1.00000000               0.00
 X-1             0.00               0.00                0.00          0.00000000               0.00
 X-2             0.00               0.00                0.00          0.00000000               0.00
-----------------------------------------------------------------------------------------------------
Totals           0.00       4,646,837.56      546,735,045.30          0.94722483       4,646,837.56
-----------------------------------------------------------------------------------------------------
</TABLE>

(1) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                   PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------
                             Beginning        Scheduled      Unscheduled
          Original Face     Certificate       Principal       Principal                    Realized
Class        Amount           Balance       Distribution    Distribution     Accretion     Loss (3)
----------------------------------------------------------------------------------------------------
<S>      <C>               <C>              <C>             <C>             <C>           <C>
  A      554,686,000.00     953.46084839      0.00316734      8.37425260    0.00000000    0.00000000
 A-R             100.00       0.00000000      0.00000000      0.00000000    0.00000000    0.00000000
 B-1       8,080,000.00    1000.00000000      0.00000000      0.00000000    0.00000000    0.00000000
 B-2       5,771,000.00    1000.00000000      0.00000000      0.00000000    0.00000000    0.00000000
 B-3       3,463,000.00    1000.00000000      0.00000000      0.00000000    0.00000000    0.00000000
 B-4       1,442,000.00    1000.00000000      0.00000000      0.00000000    0.00000000    0.00000000
 B-5       1,154,000.00    1000.00000000      0.00000000      0.00000000    0.00000000    0.00000000
 B-6       2,600,498.71    1000.00000000      0.00000000      0.00000000    0.00000000    0.00000000
 X-1              50.00       0.00000000      0.00000000      0.00000000    0.00000000    0.00000000
 X-2              50.00       0.00000000      0.00000000      0.00000000    0.00000000    0.00000000
----------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------
           Total Principal    Ending Certificate    Ending Certificate    Total Principal
Class         Reduction             Balance             Percentage          Distribution
-----------------------------------------------------------------------------------------
<S>        <C>                <C>                   <C>                   <C>
  A             8.37741995          945.08342844            0.94508343         8.37741995
 A-R            0.00000000            0.00000000            0.00000000         0.00000000
 B-1            0.00000000         1000.00000000            1.00000000         0.00000000
 B-2            0.00000000         1000.00000000            1.00000000         0.00000000
 B-3            0.00000000         1000.00000000            1.00000000         0.00000000
 B-4            0.00000000         1000.00000000            1.00000000         0.00000000
 B-5            0.00000000         1000.00000000            1.00000000         0.00000000
 B-6            0.00000000         1000.00000000            1.00000000         0.00000000
 X-1            0.00000000            0.00000000            0.00000000         0.00000000
 X-2            0.00000000            0.00000000            0.00000000         0.00000000
-----------------------------------------------------------------------------------------
</TABLE>

(3) Amount does not include excess special hazard, bankruptcy, or fraud losses
    unless otherwise disclosed. Please refer to the prospectus supplement for a
    full description.

                        INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
                                                Beginning                      Payment of                    Non-
                                              Certificate/        Current        Unpaid       Current     Supported
         Original Face        Current           Notional          Accrued       Interest      Interest     Interest    Realized
Class       Amount       Certificate Rate        Balance         Interest       Shortfall    Shortfall    Shortfall    Loss (4)
-------------------------------------------------------------------------------------------------------------------------------
<S>     <C>              <C>                 <C>               <C>             <C>           <C>          <C>          <C>
  A     554,686,000.00           2.17000%    528,871,384.15      956,375.75          0.00         0.00         0.00        0.00
 A-R            100.00           3.54181%              0.00            0.00          0.00         0.00         0.00        0.00
 B-1      8,080,000.00           2.58000%      8,080,000.00       17,372.00          0.00         0.00         0.00        0.00
 B-2      5,771,000.00           3.42362%      5,771,000.00       16,464.74          0.00         0.00         0.00        0.00
 B-3      3,463,000.00           3.42362%      3,463,000.00        9,879.99          0.00         0.00         0.00        0.00
 B-4      1,442,000.00           3.42362%      1,442,000.00        4,114.05          0.00         0.00         0.00        0.00
 B-5      1,154,000.00           3.42362%      1,154,000.00        3,292.38          0.00         0.00         0.00        0.00
 B-6      2,600,498.71           3.42362%      2,600,498.71        7,419.26          0.00         0.00         0.00        0.00
 X-1             50.00           1.06418%     92,292,092.13       81,845.90          0.00         0.00         0.00        0.00
 X-2             50.00           1.28549%    444,659,292.02      476,335.95          0.00         0.00         0.00        0.00
-------------------------------------------------------------------------------------------------------------------------------
Totals  577,196,698.71                                         1,573,100.02          0.00         0.00         0.00        0.00
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
----------------------------------------------------------
                             Remaining          Ending
                               Unpaid        Certificate/
           Total Interest     Interest        Notational
Class       Distribution     Shortfall          Balance
----------------------------------------------------------
<S>        <C>               <C>            <C>
  A            956,375.75         0.00      524,224,546.59
 A-R                 0.00         0.00                0.00
 B-1            17,372.00         0.00        8,080,000.00
 B-2            16,464.74         0.00        5,771,000.00
 B-3             9,879.99         0.00        3,463,000.00
 B-4             4,114.05         0.00        1,442,000.00
 B-5             3,292.38         0.00        1,154,000.00
 B-6             7,419.26         0.00        2,600,498.71
 X-1            81,847.55         0.00       91,622,711.69
 X-2           476,345.54         0.00      440,681,834.90
----------------------------------------------------------
Totals       1,573,111.26         0.00
----------------------------------------------------------
</TABLE>

(4) Amount does not include excess special hazard, bankruptcy, or fraud losses
    unless otherwise disclosed. Please refer to the prospectus supplement for a
    full description.

<PAGE>

                    INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                            Beginning                         Payment of                     Non-
                           Current        Certificate/     Current Accrued      Unpaid        Current      Supported
Class    Original Face   Certificate    Notional Balance       Interest        Interest      Interest      Interest      Realized
 (5)        Amount           Rate                                              Shortfall     Shortfall     Shortfall     Loss (6)
----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>              <C>            <C>                <C>                <C>           <C>           <C>           <C>
  A     554,686,000.00      2.17000%        953.46084839        1.72417503    0.00000000    0.00000000    0.00000000    0.00000000
 A-R            100.00      3.54181%          0.00000000        0.00000000    0.00000000    0.00000000    0.00000000    0.00000000
 B-1      8,080,000.00      2.58000%       1000.00000000        2.15000000    0.00000000    0.00000000    0.00000000    0.00000000
 B-2      5,771,000.00      3.42362%       1000.00000000        2.85301334    0.00000000    0.00000000    0.00000000    0.00000000
 B-3      3,463,000.00      3.42362%       1000.00000000        2.85301473    0.00000000    0.00000000    0.00000000    0.00000000
 B-4      1,442,000.00      3.42362%       1000.00000000        2.85301664    0.00000000    0.00000000    0.00000000    0.00000000
 B-5      1,154,000.00      3.42362%       1000.00000000        2.85301560    0.00000000    0.00000000    0.00000000    0.00000000
 B-6      2,600,498.71      3.42362%       1000.00000000        2.85301430    0.00000000    0.00000000    0.00000000    0.00000000
 X-1             50.00      1.06418%    1845841.84260000     1636.91800000    0.00000000    0.00000000    0.00000000    0.00000000
 X-2             50.00      1.28549%    8893185.84040000     9526.71900000    0.00000000    0.00000000    0.00000000    0.00000000
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------
                            Remaining   Ending Certificate/
                             Unpaid      Notational Balance
Class     Total Interest    Interest
 (5)       Distribution     Shortfall
-----------------------------------------------------------
<S>       <C>               <C>         <C>
  A           1.72417503    0.00000000         945.08342844
 A-R          0.00000000    0.00000000           0.00000000
 B-1          2.15000000    0.00000000        1000.00000000
 B-2          2.85301334    0.00000000        1000.00000000
 B-3          2.85301473    0.00000000        1000.00000000
 B-4          2.85301664    0.00000000        1000.00000000
 B-5          2.85301560    0.00000000        1000.00000000
 B-6          2.85301430    0.00000000        1000.00000000
 X-1       1636.95100000    0.00000000     1832454.23380000
 X-2       9526.91080000    0.00000000     8813636.69800000
-----------------------------------------------------------
</TABLE>

(5) Per $1 denomination
(6) Amount does not include excess special hazard, bankruptcy, or fraud losses
    unless otherwise disclosed. Please refer to the prospectus supplement for a
    full description.

                      CERTIFICATEHOLDER ACCOUNT STATEMENT

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                                   CERTIFICATE ACCOUNT
<S>                                                                         <C>
Beginning Balance                                                                      0.00

Deposits
         Payments of Interest and Principal                                    6,397,044.39
         Liquidations, Insurance Proceeds, Reserve Funds                              11.24
         Proceeds from Repurchased Loans                                               0.00
         Other Amounts (Servicer Advances)                                             0.00
         Realized Losses                                                               0.00
         Prepayment Penalties                                                          0.00
                                                                            ---------------
Total Deposits                                                                 6,397,055.63

Withdrawals
         Reimbursement for Servicer Advances                                           0.00
         Payment of Service Fee                                                  177,106.81
         Payment of Interest and Principal                                     6,219,948.82
                                                                            ---------------
Total Withdrawals (Pool Distribution Amount)                                   6,397,055.63

Ending Balance                                                                         0.00
                                                                            ===============
----------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------
                  PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S>                                                             <C>
Total Prepayment/Curtailment Interest Shortfall                         0.00
Servicing Fee Support                                                   0.00
                                                                ------------

Non-Supported Prepayment Curtailment Interest Shortfall                 0.00
                                                                ============
------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------
                              SERVICING FEES
<S>                                                             <C>
Gross Servicing Fee                                               172,511.97
Master Servicing Fee                                                4,594.84
Supported Prepayment/Curtailment Interest Shortfall                     0.00
                                                                ------------

Net Servicing Fee                                                 177,106.81
                                                                ============
------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
                                 Beginning      Current       Current     Ending
      Account Type                Balance     Withdrawals    Deposits     Balance
-----------------------------------------------------------------------------------
<S>                              <C>          <C>            <C>         <C>
Basis Risk Reserve Fund - X-1     1,512.85           1.65        1.70    1,512.90
Basis Risk Reserve Fund - X-2     8,487.15           9.59        9.54    8,487.10

-----------------------------------------------------------------------------------
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
            DELINQUENT                          BANKRUPTCY                         FORECLOSURE
--------------------------------------------------------------------------------------------------------------
                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
<S>            <C>         <C>         <C>         <C>         <C>         <C>         <C>          <C>
30 Days            0           0.00    30 Days         0           0.00    30 Days         0            0.00
60 Days            0           0.00    60 Days         0           0.00    60 Days         0            0.00
90 Days            0           0.00    90 Days         0           0.00    90 Days         0            0.00
120 Days           0           0.00    120 Days        0           0.00    120 Days        0            0.00
150 Days           0           0.00    150 Days        0           0.00    150 Days        0            0.00
180+ Days          0           0.00    180+ Days       0           0.00    180+ Days       0            0.00
               --------    --------                --------    --------                --------     --------
                   0           0.00                    0           0.00                    0            0.00

                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance

30 Days        0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%    0.000000%
60 Days        0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days        0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%    0.000000%
120 Days       0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days       0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days      0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
               --------    --------                --------    --------                --------     --------
               0.000000%   0.000000%               0.000000%   0.000000%               0.000000%    0.000000%

--------------------------------------------------------------------------------------------------------------
Current Period Class A Insufficient Funds:             0.00    Principal Balance of Contaminated Properties
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------
               REO                                TOTAL
---------------------------------------------------------------------

              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
<S>         <C>         <C>         <C>         <C>         <C>
30 Days         0           0.00    30 Days         0           0.00
60 Days         0           0.00    60 Days         0           0.00
90 Days         0           0.00    90 Days         0           0.00
120 Days        0           0.00    120 Days        0           0.00
150 Days        0           0.00    150 Days        0           0.00
180+ Days       0           0.00    180+ Days       0           0.00
            --------    --------                --------    --------
                0           0.00                    0           0.00

              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance

30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%

---------------------------------------------------------------------

   0.00     Periodic Advance                                    0.00
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------
                      Original $       Original %      Current $         Current %
<S>                  <C>               <C>           <C>                <C>
      Bankruptcy        100,261.00     0.01737033%      100,261.00      0.01818359%
           Fraud     17,315,901.00     3.00000001%   17,315,901.00      3.14045520%
  Special Hazard      5,771,967.00     1.00000000%    5,513,818.83      1.00000000%

Limit of subordinate's exposure to certain types of losses
------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
                                                  ONE-MONTH LIBOR
--------------------------------------------------------------------------------------------------------------
             DELINQUENT                          BANKRUPTCY                         FORECLOSURE
--------------------------------------------------------------------------------------------------------------
                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
<S>            <C>         <C>         <C>         <C>         <C>         <C>         <C>          <C>
30 Days            0           0.00    30 Days         0           0.00    30 Days         0            0.00
60 Days            0           0.00    60 Days         0           0.00    60 Days         0            0.00
90 Days            0           0.00    90 Days         0           0.00    90 Days         0            0.00
120 Days           0           0.00    120 Days        0           0.00    120 Days        0            0.00
150 Days           0           0.00    150 Days        0           0.00    150 Days        0            0.00
180+ Days          0           0.00    180+ Days       0           0.00    180+ Days       0            0.00
               --------    --------                --------    --------                --------     --------
                   0           0.00                    0           0.00                    0            0.00

                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance

30 Days        0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%    0.000000%
60 Days        0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days        0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%    0.000000%
120 Days       0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days       0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days      0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
               --------    --------                --------    --------                --------     --------
               0.000000%   0.000000%               0.000000%   0.000000%               0.000000%    0.000000%
--------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------
               REO                                TOTAL
----------------------------------------------------------------------

              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
<S>         <C>         <C>         <C>         <C>         <C>
30 Days         0           0.00    30 Days         0           0.00
60 Days         0           0.00    60 Days         0           0.00
90 Days         0           0.00    90 Days         0           0.00
120 Days        0           0.00    120 Days        0           0.00
150 Days        0           0.00    150 Days        0           0.00
180+ Days       0           0.00    180+ Days       0           0.00
            --------    --------                --------    --------
                0           0.00                    0           0.00

              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance

30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%
----------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                                  SIX-MONTH LIBOR
--------------------------------------------------------------------------------------------------------------
               DELINQUENT                          BANKRUPTCY                          FORECLOSURE
--------------------------------------------------------------------------------------------------------------
                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
<S>            <C>         <C>         <C>         <C>         <C>         <C>         <C>          <C>
30 Days            0           0.00    30 Days         0           0.00    30 Days         0            0.00
60 Days            0           0.00    60 Days         0           0.00    60 Days         0            0.00
90 Days            0           0.00    90 Days         0           0.00    90 Days         0            0.00
120 Days           0           0.00    120 Days        0           0.00    120 Days        0            0.00
150 Days           0           0.00    150 Days        0           0.00    150 Days        0            0.00
180+ Days          0           0.00    180+ Days       0           0.00    180+ Days       0            0.00
               --------    --------                --------    --------                --------     --------
                   0           0.00                    0           0.00                    0            0.00

                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance

30 Days        0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%    0.000000%
60 Days        0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days        0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%    0.000000%
120 Days       0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days       0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days      0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
               --------    --------                --------    --------                --------     --------
               0.000000%   0.000000%               0.000000%   0.000000%               0.000000%    0.000000%
--------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------
               REO                                TOTAL
-----------------------------------------------------------------------
              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance

<S>         <C>         <C>         <C>         <C>         <C>
30 Days         0           0.00    30 Days         0           0.00
60 Days         0           0.00    60 Days         0           0.00
90 Days         0           0.00    90 Days         0           0.00
120 Days        0           0.00    120 Days        0           0.00
150 Days        0           0.00    150 Days        0           0.00
180+ Days       0           0.00    180+ Days       0           0.00
            --------    --------                --------    --------
                0           0.00                  0             0.00

              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance

30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%
----------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------
                       COLLATERAL STATEMENT

Collateral Description                            Mixed Fixed & Arm
<S>                                               <C>
Weighted Average Gross Coupon                             3.809063%
Weighted Average Net Coupon                               3.433616%
Weighted Average Pass-Through Rate                        3.423616%
Weighted Average Maturity (Stepdown Calculation)               354

Beginning Scheduled Collateral Loan Count                    1,513
Number of Loans Paid in Full                                    12
Ending Scheduled Collateral Loan Count                       1,501

Beginning Scheduled Collateral Balance              551,381,882.86
Ending Scheduled Collateral Balance                 546,735,045.30
Ending Actual Collateral Balance at 31-Oct-2002     546,731,486.49

Monthly P&I Constant                                  1,751,963.73
Special Servicing Fee                                         0.00
Prepayment Penalties                                          0.00
Realization Loss Amount                                       0.00
Cumulative Realized Loss                                      0.00
Scheduled Principal                                       1,756.88
Unscheduled Principal                                 4,645,080.68
-------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------
                       MISCELLANEOUS REPORTING
<S>                                                     <C>
Pro Rata Senior Percent                                  95.917440%
Senior Percent                                          100.000000%
Senior Prepay Percent                                   100.000000%
Subordinate Percent                                       0.000000%
Subordinate Prepay Percent                                0.000000%
Basis RiskReserve Fund Income X-1                             1.70
Basis Risk Reserve Fund Income X-2                            9.54
------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------
          GROUP                      ONE MONTH LIBOR  SIX MONTH LIBOR           TOTAL
<S>                                 <C>               <C>                 <C>
Collateral Description                    Monthly        6 Month Arm      Mixed Fixed & Arm
Weighted Average Coupon Rate             3.625346           3.847194               3.809063
Weighted Average Net Rate                3.250346           3.471655               3.433616
Pass-Through Rate                        3.240346           3.461655               3.423616
Weighted Average Maturity                     314                315                    354
Record Date                            10/31/2002         10/31/2002             10/31/2002
Principal and Interest Constant        286,319.06       1,465,644.67           1,751,963.73
Beginning Loan Count                          238              1,275                  1,513
Loans Paid in Full                              2                 10                     12
Ending Loan Count                             236              1,265                  1,501
Beginning Scheduled Balance         94,772,430.12     456,609,452.74         551,381,882.86
Ending Scheduled Balance            94,106,555.63     452,628,489.67         546,735,045.30
Scheduled Principal                          0.00           1,756.88               1,756.88
Unscheduled Principal                  665,874.49       3,979,206.19           4,645,080.68
Scheduled Interest                     286,319.06       1,463,887.79           1,750,206.85
Servicing Fee                           29,616.39         142,895.58             172,511.97
Master Servicing Fee                       789.76           3,805.08               4,594.84
Trustee Fee                                  0.00               0.00                   0.00
FRY Amount                                   0.00               0.00                   0.00
Special Hazard Fee                           0.00               0.00                   0.00
Other Fee                                    0.00               0.00                   0.00
Pool Insurance Fee                           0.00               0.00                   0.00
Spread 1                                     0.00               0.00                   0.00
Spread 2                                     0.00               0.00                   0.00
Spread 3                                     0.00               0.00                   0.00
Net Interest                           255,912.91       1,317,187.13           1,573,100.04
Realized Loss Amount                         0.00               0.00                   0.00
Cumulative Realized Loss                     0.00               0.00                   0.00
Percentage of Cumulative Losses              0.00               0.00                   0.00
Prepayment Penalties                         0.00               0.00                   0.00
Special Servicing Fee                        0.00               0.00                   0.00
-------------------------------------------------------------------------------------------
</TABLE>