<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 2002-9
                         RECORD DATE: SEPTEMBER 30, 2002
                       DISTRIBUTION DATE: OCTOBER 21, 2002

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
                           Certificate       Certificate         Beginning
                              Class          Pass-Through       Certificate          Interest         Principal
Class       CUSIP          Description           Rate             Balance          Distribution       Distribution
-------------------------------------------------------------------------------------------------------------------
<S>        <C>             <C>               <C>              <C>                  <C>                <C>
 1A        81743SAA8           SEN             2.17000%       380,615,449.23         688,279.60       1,139,096.42
 2A        81743SAB6           SEN             3.74138%       166,042,501.06         517,689.68       1,415,973.62
X-1A       81743SAC4            IO             1.03947%                 0.00         176,842.97               0.00
X-1B       81743SAD2            IO             1.91802%                 0.00         282,055.26               0.00
 X-B       81743SAE0           SEN             1.08501%                 0.00           6,969.26               0.00
 A-R       81743SAF7           SUB             3.61679%                 0.00               0.00               0.00
 B-1       81743SAG5            IO             2.57000%         7,702,000.00          16,495.12               0.00
 B-2       81743SAH3           SUB             3.65501%         4,564,000.00          13,901.20               0.00
 B-3       81743SAJ9           SUB             3.65501%         3,424,000.00          10,428.95               0.00
 B-4       SMT0209B4           SUB             3.65501%         1,426,000.00           4,343.36               0.00
 B-5       SMR0209B5           SUB             3.65501%           856,000.00           2,607.24               0.00
 B-6       SMT0209B6           SUB             3.65501%         1,997,086.78           6,082.80               0.00
-------------------------------------------------------------------------------------------------------------------
Totals                                                        566,627,037.07       1,725,695.44        2,555,070.04
-------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------
                      Ending
    Current         Certificate             Total           Cumulative
Realized Loss         Balance            Distribution      Realized Loss
-----------------------------------------------------------------------
<S>               <C>                    <C>                  <C>
     0.00         379,476,352.81         1,827,376.02              0.00
     0.00         164,626,527.44         1,933,663.30              0.00
     0.00                   0.00           176,842.97              0.00
     0.00                   0.00           282,055.26              0.00
     0.00                   0.00             6,969.26              0.00
     0.00                   0.00                 0.00              0.00
     0.00           7,702,000.00            16,495.12              0.00
     0.00           4,564,000.00            13,901.20              0.00
     0.00           3,424,000.00            10,428.95              0.00
     0.00           1,426,000.00             4,343.36              0.00
     0.00             856,000.00             2,607.24              0.00
     0.00           1,997,086.78             6,082.80              0.00
-----------------------------------------------------------------------
     0.00         564,071,967.03         4,280,765.48              0.00
-----------------------------------------------------------------------
</TABLE>

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


<PAGE>


                        PRINCIPAL DISTRIBUTION STATEMENT
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
                                Beginning         Scheduled        Unscheduled
             Original Face     Certificate        Principal        Principal                    Realized
Class           Amount           Balance         Distribution     Distribution      Accretion    Loss (1)
--------------------------------------------------------------------------------------------------------
<S>        <C>               <C>                 <C>             <C>                <C>         <C>
 1A        381,698,000.00    380,615,449.23          0.00        1,139,096.42         0.00          0.00
 2A        168,875,000.00    166,042,501.06          0.00        1,415,973.62         0.00          0.00
X-1A                 0.00              0.00          0.00                0.00         0.00          0.00
X-1B                 0.00              0.00          0.00                0.00         0.00          0.00
 X-B                 0.00              0.00          0.00                0.00         0.00          0.00
 A-R               100.00              0.00          0.00                0.00         0.00          0.00
 B-1         7,702,000.00      7,702,000.00          0.00                0.00         0.00          0.00
 B-2         4,564,000.00      4,564,000.00          0.00                0.00         0.00          0.00
 B-3         3,424,000.00      3,424,000.00          0.00                0.00         0.00          0.00
 B-4         1,426,000.00      1,426,000.00          0.00                0.00         0.00          0.00
 B-5           856,000.00        856,000.00          0.00                0.00         0.00          0.00
 B-6         1,997,086.78      1,997,086.78          0.00                0.00         0.00          0.00
--------------------------------------------------------------------------------------------------------
Totals     570,533,186.78    566,627,037.07          0.00        2,555,070.04         0.00          0.00
--------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------
                      Ending                 Ending
Total Principal     Certificate            Certificate    Total Principal
  Reduction           Balance              Percentage       Distribution
-------------------------------------------------------------------------
<S>                <C>                     <C>            <C>
 1,139,096.42      379,476,352.81          0.99420301       1,139,096.42
 1,415,973.62      164,626,527.44          0.97484250       1,415,973.62
         0.00                0.00          0.00000000               0.00
         0.00                0.00          0.00000000               0.00
         0.00                0.00          0.00000000               0.00
         0.00                0.00          0.00000000               0.00
         0.00        7,702,000.00          1.00000000               0.00
         0.00        4,564,000.00          1.00000000               0.00
         0.00        3,424,000.00          1.00000000               0.00
         0.00        1,426,000.00          1.00000000               0.00
         0.00          856,000.00          1.00000000               0.00
         0.00        1,997,086.78          1.00000000               0.00
-------------------------------------------------------------------------
 2,555,070.04      564,071,967.03          0.98867512       2,555,070.04
-------------------------------------------------------------------------
</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.

                    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>
 1A        381,698,000.00      997.18736780    0.00000000       2.98435747    0.00000000     0.00000000
 2A        168,875,000.00      983.22724536    0.00000000       8.38474386    0.00000000     0.00000000
X-1A                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
X-1B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 X-B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 A-R               100.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-1         7,702,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-2         4,564,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-3         3,424,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-4         1,426,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-5           856,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 B-6         1,997,086.78     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------
  Total              Ending               Ending
Principal         Certificate          Certificate       Total Principal
Reduction           Balance             Percentage        Distribution
------------------------------------------------------------------------
<S>              <C>                   <C>               <C>
2.98435747        994.20301033          0.99420301         2.98435747
8.38474386        974.84250150          0.97484250         8.38474386
0.00000000          0.00000000          0.00000000         0.00000000
0.00000000          0.00000000          0.00000000         0.00000000
0.00000000          0.00000000          0.00000000         0.00000000
0.00000000          0.00000000          0.00000000         0.00000000
0.00000000       1000.00000000          1.00000000         0.00000000
0.00000000       1000.00000000          1.00000000         0.00000000
0.00000000       1000.00000000          1.00000000         0.00000000
0.00000000       1000.00000000          1.00000000         0.00000000
0.00000000       1000.00000000          1.00000000         0.00000000
0.00000000       1000.00000000          1.00000000         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.


<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
                                                                                      Payment of
                                 Current       Beginning             Current           Unpaid           Current
             Original Face     Certificate    Certificate/           Accrued          Interest         Interest
Class           Amount            Rate       Notional Balance        Interest         Shortfall       Shortfall
--------------------------------------------------------------------------------------------------------------
<S>        <C>                 <C>           <C>                  <C>                 <C>             <C>
 1A        381,698,000.00        2.17000%     380,615,449.23         688,279.60          0.00           0.00
 2A        168,875,000.00        3.74138%     166,042,501.06         517,689.68          0.00           0.00
X-1A                 0.00        1.03947%     204,151,099.33         176,840.92          0.00           0.00
X-1B                 0.00        1.91802%     176,464,349.90         282,051.98          0.00           0.00
 X-B                 0.00        1.08501%       7,702,000.00           6,963.93          0.00           0.00
 A-R               100.00        3.61679%               0.00               0.00          0.00           0.00
 B-1         7,702,000.00        2.57000%       7,702,000.00          16,495.12          0.00           0.00
 B-2         4,564,000.00        3.65501%       4,564,000.00          13,901.20          0.00           0.00
 B-3         3,424,000.00        3.65501%       3,424,000.00          10,428.95          0.00           0.00
 B-4         1,426,000.00        3.65501%       1,426,000.00           4,343.36          0.00           0.00
 B-5           856,000.00        3.65501%         856,000.00           2,607.24          0.00           0.00
 B-6         1,997,086.78        3.65501%       1,997,086.78           6,082.80          0.00           0.00
--------------------------------------------------------------------------------------------------------------
Totals     570,533,186.78                                          1,725,684.78          0.00           0.00
--------------------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
                                                 Remaining            Ending
 Non-Supported                                      Unpaid          Certificate/
   Interest        Realized    Total Interest     Interest          Notational
   Shortfall       Loss (4)     Distribution     Shortfall            Balance
-------------------------------------------------------------------------------
<S>                <C>         <C>               <C>             <C>
      0.00          0.00         688,279.60          0.00        379,476.352.81
      0.00          0.00         517,689.68          0.00        164,626,527.44
      0.00          0.00         176,842.97          0.00        203,396,159.35
      0.00          0.00         282,055.26          0.00        176,080,193.46
      0.00          0.00           6,969.26          0.00          7,702,000.00
      0.00          0.00               0.00          0.00                  0.00
      0.00          0.00          16,495.12          0.00          7,702,000.00
      0.00          0.00          13,901.20          0.00          4,564,000.00
      0.00          0.00          10,428.95          0.00          3,424,000.00
      0.00          0.00           4,343.36          0.00          1,426,000.00
      0.00          0.00           2,607.24          0.00            856,000.00
      0.00          0.00           6,082.80          0.00          1,997,086.78
-------------------------------------------------------------------------------
      0.00          0.00       1,725,695.44          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.

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                                                          Payment of
                                    Current         Beginning            Current            Unpaid           Current
               Original Face      Certificate      Certificate/          Accrued           Interest          Interest
Class (5)          Amount            Rate         Notional Balance       Interest          Shortfall         Shortfall
----------------------------------------------------------------------------------------------------------------------
<S>           <C>                 <C>             <C>                   <C>               <C>               <C>
   1A         381,698,000.00       2.17000%         997.18736780        1.80324715        0.00000000        0.00000000
   2A         168,875,000.00       3.74138%         983.22724536        3.06551994        0.00000000        0.00000000
  X-1A                  0.00       1.03947%        1001.88769481        0.86786083        0.00000000        0.00000000
  X-1B                  0.00       1.91802%         991.80430112        1.58525145        0.00000000        0.00000000
   X-B                  0.00       1.08501%        1000.00000000        0.90417164        0.00000000        0.00000000
   A-R                100.00       3.61679%           0.00000000        0.00000000        0.00000000        0.00000000
   B-1          7,702,000.00       2.57000%        1000.00000000        2.14166710        0.00000000        0.00000000
   B-2          4,564,000.00       3.65501%        1000.00000000        3.04583699        0.00000000        0.00000000
   B-3          3,424,000.00       3.65501%        1000.00000000        3.04583820        0.00000000        0.00000000
   B-4          1,426,000.00       3.65501%        1000.00000000        3.04583450        0.00000000        0.00000000
   B-5            856,000.00       3.65501%        1000.00000000        3.04584112        0.00000000        0.00000000
   B-6          1,997,086.78       3.65501%        1000.00000000        3.04583660        0.00000000        0.00000000
----------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------
                                                         Remaining
Non-Supported                                              Unpaid
 Interest         Realized         Total Interest         Interest       Ending Certificate/
 Shortfall         Loss (6)         Distribution          Shortfall      Notational Balance
-------------------------------------------------------------------------------------------
<S>              <C>               <C>                   <C>             <C>
0.00000000       0.00000000          1.80324715          0.00000000            994.20301033
0.00000000       0.00000000          3.06551994          0.00000000            974.84250150
0.00000000       0.00000000          0.86787089          0.00000000            998.18276704
0.00000000       0.00000000          1.58526989          0.00000000            989.64517941
0.00000000       0.00000000          0.90486367          0.00000000           1000.00000000
0.00000000       0.00000000          0.00000000          0.00000000              0.00000000
0.00000000       0.00000000          2.14166710          0.00000000           1000.00000000
0.00000000       0.00000000          3.04583699          0.00000000           1000.00000000
0.00000000       0.00000000          3.04583820          0.00000000           1000.00000000
0.00000000       0.00000000          3.04583450          0.00000000           1000.00000000
0.00000000       0.00000000          3.04584112          0.00000000           1000.00000000
0.00000000       0.00000000          3.04583660          0.00000000           1000.00000000
-------------------------------------------------------------------------------------------
</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.


<PAGE>


                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                            <C>
Beginning Balance                                                      0.00

Deposits

         Payments of Interest and Principal                    4,455,522.73
         Liquidations, Insurance Proceeds, Reserve Funds              10.66
         Proceeds from Repurchased Loans                               0.00
         Other Amounts (Servicer Advances)                         6,770.22
         Realized Losses                                               0.00
         Prepayment Penalties                                          0.00
                                                               ------------
Total Deposits                                                 4,462,303.61

Withdrawals

         Reimbursement for Servicer Advances                           0.00
         Payment of Service Fee                                  181,538.13
         Payment of Interest and Principal                     4,280,765.48
                                                               ------------
Total Withdrawals (Pool Distribution Amount)                   4,462,303.61
Ending Balance                                                         0.00
                                                               ============
</TABLE>



                      PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                            <C>
Total Prepayment/Curtailment Interest Shortfall                0.00
Servicing Fee Support                                          0.00
                                                               ----
Non-Supported Prepayment Curtailment Interest Shortfall        0.00
                                                               ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                        <C>
Gross Servicing Fee                                        177,288.46
Master Servicing Fee                                         4,249.67
Supported Prepayment/Curtailment Interest Shortfall              0.00
                                                           ----------
Net Servicing Fee                                          181,538.13
                                                           ==========
</TABLE>


<PAGE>

<TABLE>
<CAPTION>
                                  Beginning        Current         Current       Ending
        Account Type               Balance       Withdrawals      Deposits       Balance
----------------------------------------------------------------------------------------
<S>                               <C>            <C>              <C>           <C>
X-1 Basis Risk Reserve Fund       5,000.00          0.00            5.33        5,000.00
X-2 Basis Risk Reserve Fund       5,000.00          0.00            5.33        5,000.00
</TABLE>

             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>
0-29 Days             0            0.00      0-29 Days            0            0.00      0-29 Days           0            0.00
30 Days               8    2,411,560.00      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
------------------------------------------------------------------------------------------------------------------------------
                      8     2,411,560.00                          0            0.00                          0            0.00

<CAPTION>
                 No. of        Principal                     No. of         Principal                   No. of         Principal
                 Loans          Balance                      Loans           Balance                    Loans           Balance
<S>            <C>             <C>          <C>           <C>             <C>            <C>          <C>             <C>
0-29 Days      0.000000%       0.000000%     0-29 Days     0.000000%       0.000000%     0-29 Days    0.000000%       0.000000%
  30 Days      0.530152%       0.427526%     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%
               ------------------------                    ------------------------                   ------------------------
               0.530152%       0.427526%                   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>
  0-29 Days          0           0.00      0-29 Days            0             0.00
  30 Days            0           0.00      30 Days              8     2,411,560.00
  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                           8     2,411,560.00

<CAPTION>
                 No. of       Principal                   No. of         Principal
                 Loans         Balance                     Loans           Balance
<S>           <C>            <C>           <C>           <C>             <C>
0-29 Days     0.000000%      0.000000%     0-29 Days     0.000000%        0.000000%
  30 Days     0.000000%      0.000000%     30 Days       0.530152%        0.427526%
  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%                   0.530152%        0.427526%
</TABLE>

<TABLE>
<S>                                         <C>   <C>                                           <C>   <C>                      <C>
Current Period Class A Insufficient Funds:  0.00  Principal Balance of Contaminated Properties  0.00  Periodic Advance   6,770.22
</TABLE>


<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------
               Original $           Original %       Current $            Current %       Current Class %    Prepayment %
               ----------           ----------       ---------            ---------       ---------------    ------------
<S>          <C>                  <C>             <C>                 <C>                 <C>               <C>
 Class A     570,533.086.78       99.99998247%    564,071,967.03      100.00000000%         96.459834%          0.000000%
 Class 1A    188,844,086.78       33.09957968%    184,595,614.22       32.72554302%         67.274457%      1,900.319013%
 Class 2A     19,969,086.78        3.50007453%     19,969,086.78        3.54016649%         29.185377%        824.406891%
Class B-1     12,267,068.78        2.15010924%     12,267,086.78        2.17473789%          1.365429%         38.569616%
Class B-2      7,703,086.78        1.35015578%      7,703,086.78        1.36562127%          0.809117%         22.855327%
Class B-3      4,279,086.78        0.75001540%      4,279,086.78        0.75860653%          0.607015%         17.146503%
Class B-4      2,853,086.78        0.50007376%      2,853,086.78        0.50580191%          0.252805%          7.141038%
Class B-5      1,997,086.78        0.35003867%      1,997,086.78        0.35404822%          0.151754%          4.286626%
Class B-6              0.00        0.00000000%              0.00        0.00000000%          0.354048%         10.000892%
-------------------------------------------------------------------------------------------------------------------------
</TABLE>

Please refer to the prospectus supplement for a full description of loss
exposure

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------
                    Original $         Original %       Current $          Current %
<S>               <C>                 <C>            <C>                 <C>
    Bankruptcy       100,000.00       0.01752746%       100,000.00       0.01772823%
         Fraud    17,115,996.00       3.00000007%    17,115,996.00       3.03436388%
Special Hazard     6,000,000.00       1.05164785%     6,000,000.00       1.06369406%

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



<PAGE>


                           DELINQUENCY STATUS BY GROUP

                                     GROUP 1
<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>
0-29 Days            0          0.00     0-29 Days            0          0.00     0-29 Days            0          0.00
30 Days              5  1,315,560.00       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
                     ---------------                          ---------------                          ---------------
                     5  1,315,560.00                          0          0.00                          0          0.00

<CAPTION>
               No. of       Principal                   No. of       Principal                   No. of       Principal
                Loans        Balance                     Loans        Balance                     Loans         Balance
<S>           <C>           <C>          <C>           <C>           <C>          <C>           <C>           <C>
0-29 Days     0.000000%     0.000000%    0-29 Days     0.000000%     0.000000%    0-29 Days     0.000000%     0.000000%
30 Days       0.489237%     0.334475%      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%
---           --------      --------                   --------      --------                   --------      --------
              0.489237%     0.334475%                  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>
 0-29 Days           0          0.00     0-29 Days            0          0.00
 30 Days             0          0.00       30 Days            5  1,315,560.00
 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                          5  1,315,560.00
<CAPTION>
                No. of      Principal                   No. of       Principal
                Loans        Balance                     Loans         Balance
<S>           <C>           <C>          <C>           <C>           <C>
0-29 Days     0.000000%     0.000000%    0-29 Days     0.000000%     0.000000%
30 Days       0.000000%     0.000000%      30 Days     0.489237%     0.334475%
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%                  0.489237%     0.334475%
</TABLE>

                                     GROUP 2

<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>
0-29 Days            0          0.00     0-29 Days            0          0.00     0-29 Days            0          0.00
30 Days              3  1,096,000.00       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
                     ---------------                          ---------------                          ---------------
                     3  1,096,000.00                          0          0.00                          0          0.00

<CAPTION>
               No. of       Principal                   No. of      Principal                    No. of       Principal
                Loans        Balance                     Loans       Balance                     Loans         Balance
<S>           <C>           <C>          <C>           <C>          <C>           <C>           <C>           <C>
0-29 Days     0.000000%     0.000000%    0-29 Days     0.000000%     0.000000%    0-29 Days     0.000000%     0.000000%
30 Days       0.616016%     0.641863%      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%
              ----------------------                   ----------------------                   ----------------------
              0.616016%     0.641863%                  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>
0-29 Days            0          0.00     0-29 Days            0          0.00
30 Days              0          0.00       30 Days            3  1,096,000.00
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                          3  1,096,000.00
<CAPTION>
               No. of       Principal                   No. of        Principal
                Loans        Balance                    Loans          Balance
<S>           <C>           <C>          <C>           <C>           <C>
0-29 Days     0.000000%     0.000000%    0-29 Days     0.000000%     0.000000%
30 Days       0.000000%     0.000000%      30 Days     0.616016%     0.641863%
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%                  0.616016%     0.641863%
</TABLE>


<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<S>                                                            <C>
Collateral Description                                              Mixed Arm

Weighted Average Gross Coupon                                       4.039107%
Weighted Average Net Coupon                                         3.537525%
Weighted Average Pass-Through Rate                                  3.654647%
Weighted Average Maturity (Stepdown Calculation)                          331

Beginning Scheduled Collateral Loan Count                               1,120
Number of Loans Paid in Full                                             (389)
Ending Scheduled Collateral Loan Count                                  1,509

Beginning Scheduled Collateral Balance                         424,150,152.71
Ending Scheduled Collateral Balance                            564,071,967.04
Ending Actual Collateral Balance at 30-Sept-2002               564,073,538.74

Monthly P&I Constant                                             1,777,524.13
Special Servicing Fee                                                    0.00
Prepayment Penalties                                                     0.00
Realization Loss Amount                                                  0.00
Cumulative Realized Loss                                                 0.00

Class A Optimal Amount                                           4,219,932.22

Ending Scheduled Balance for Premium Loans                     564,071,967.04

Scheduled Principal                                                      0.00
Unscheduled Principal                                            2,555,070.04
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                         <C>
Pro Rata Senior Percent                      96.475797%
Senior Percentage                           100.000000%
Senior Prepay Percentage                    100.000000%
Subordinate Percentage                        0.000000%
Subordinate Prepayment Percentage             0.000000%
</TABLE>


<PAGE>

<TABLE>
<CAPTION>
         GROUP                                  1                  2                  TOTAL
<S>                                    <C>                 <C>                 <C>
Collateral Description                      Mixed ARM         6 Month ARM           Mixed ARM
Weighted Average Coupon Rate                 4.001456            4.125373            4.039107
Weighted Average Net Rate                    3.455411            3.702771            3.537525
Pass-Through Rate                            3.616792            3.741377            3.654647
Weighted Average Maturity                         315                 357                 331
Record Date                                09/30/2002          09/30/2002          09/30/2002
Principal and Interest Constant          1,203,299.86          574,224.27        1,777,524.13
Beginning Loan Count                              681                 439               1,120
Loans Paid in Full                               (341)                (48)               (389)
Ending Loan Count                               1,022                 487               1,509
Beginning Scheduled Balance            271,377,210.35      152,772,942.36      424,150,152.71
Ending Scheduled Balance               393,320,439.60      170,751,527.44      564,071,967.04
Scheduled Principal                              0.00                0.00                0.00
Unscheduled Principal                    1,139,096.42        1,415,973.62        2,555,070.04
Scheduled Interest                       1,315,343.63          591,879.28        1,907,222.91
Servicing Fee                              123,486.71           53,801.75          177,288.46
Master Servicing Fee                         2,958.43            1,291.24            4,249.67
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                             1,188,898.49          536,786.29        1,725,684.78
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>

                             MISCELLANEOUS REPORTING


Group 1
-------
<TABLE>
<S>                                                              <C>
One Month LIBOR Loans                                            210,816,474.38
Six Month LIBOR Loans                                            182,503,965.22
</TABLE>