<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: DECEMBER 31, 2002
                       DISTRIBUTION DATE: JANUARY 21, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                              Certificate      Certificate                        Beginning
                                 Class        Pass-Through     Certificate         Interest         Principal         Current
   Class          CUSIP       Description         Rate            Balance        Distribution     Distribution     Realized Loss
--------------------------------------------------------------------------------------------------------------------------------
<S>             <C>           <C>             <C>             <C>                <C>              <C>              <C>
    1A          81743SAA8         SEN           1.77000%      375,996,523.11       554,594.87     4,824,396.63          0.00
    2A          81743SAB6         SEN           3.59740%      162,250,985.85       486,401.82     1,734,241.93          0.00
   X-1A         81743SAC4          IO           1.32276%                0.00       221,862.68             0.00          0.00
   X-1B         81743SAD2          IO           1.57736%                0.00       229,671.97             0.00          0.00
    X-B         81743SAE0          IO           1.15957%                0.00         7,446.50             0.00          0.00
    A-R         81743SAF7         SEN           3.31668%                0.00             0.00             0.00          0.00
    B-1         81743SAG5         SUB           2.17000%        7,702,000.00        13,927.78             0.00          0.00
    B-2         81743SAH3         SUB           3.32957%        4,564,000.00        12,663.45             0.00          0.00
    B-3         81743SAJ9         SUB           3.32957%        3,424,000.00         9,500.36             0.00          0.00
    B-4         SMT0209B4         SUB           3.32957%        1,426,000.00         3,956.64             0.00          0.00
    B-5         SMR0209B5         SUB           3.32957%          856,000.00         2,375.09             0.00          0.00
    B-6         SMT0209B6         SUB           3.32957%        1,997,086.78         5,541.19             0.00          0.00
--------------------------------------------------------------------------------------------------------------------------------
Totals                                                        558,216,595.74     1,547,942.35     6,558,638.56          0.00
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------
     Ending
   Certificate         Total          Cumulative
     Balance        Distribution     Realized Loss
--------------------------------------------------
<S>                 <C>              <C>
 371,172,126.48     5,378,991.50         0.00
 160,516,743.92     2,220,643.75         0.00
           0.00       221,862.68         0.00
           0.00       229,671.97         0.00
           0.00         7,446.50         0.00
           0.00             0.00         0.00
   7,702,000.00        13,927.78         0.00
   4,564,000.00        12,663.45         0.00
   3,424,000.00         9,500.36         0.00
   1,426,000.00         3,956.64         0.00
     856,000.00         2,375.09         0.00
   1,997,086.78         5,541.19         0.00
--------------------------------------------------
 551,657,957.18     8,106,580.91         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    Total Principal
   Class          Amount           Balance        Distribution   Distribution      Accretion      Loss (1)      Reduction
----------------------------------------------------------------------------------------------------------------------------
<S>           <C>               <C>               <C>            <C>               <C>           <C>         <C>
    1A        381,698,000.00    375,996,523.11        308.20     4,824,088.43         0.00          0.00       4,824,396.63
    2A        168,875,000.00    162,250,985.85          0.03     1,734,241.90         0.00          0.00       1,734,241.93
   X-1A                 0.00              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               0.00
    X-B                 0.00              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               0.00
    B-1         7,702,000.00      7,702,000.00          0.00             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               0.00
    B-3         3,424,000.00      3,424,000.00          0.00             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               0.00
    B-5           856,000.00        856,000.00          0.00             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               0.00
----------------------------------------------------------------------------------------------------------------------------
Totals        570,533,186.78    558,216,595.74        308.23     6,558,330.33         0.00          0.00       6,558,638.56
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------
     Ending               Ending
   Certificate         Certificate       Total Principal
     Balance            Percentage         Distribution
--------------------------------------------------------
<S>                    <C>               <C>
  371,172,126.48          0.97244649       4,824,396.63
  160,516,743.92          0.95050626       1,734,241.93
            0.00          0.00000000               0.00
            0.00          0.00000000               0.00
            0.00          0.00000000               0.00
            0.00          0.00000000               0.00
    7,702,000.00          1.00000000               0.00
    4,564,000.00          1.00000000               0.00
    3,424,000.00          1.00000000               0.00
    1,426,000.00          1.00000000               0.00
      856,000.00          1.00000000               0.00
    1,997,086.78          1.00000000               0.00
--------------------------------------------------------
  551,657,957.18          0.96691651       6,558,638.56
--------------------------------------------------------
</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.

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
                                   Beginning      Scheduled      Unscheduled                                       Total
               Original Face      Certificate     Principal       Principal                      Realized        Principal
   Class           Amount           Balance      Distribution    Distribution    Accretion       Loss (3)        Reduction
---------------------------------------------------------------------------------------------------------------------------
<S>           <C>                <C>             <C>             <C>             <C>            <C>             <C>
    1A        381,698,000.00      985.08608608    0.00080746      12.63879344    0.00000000     0.00000000      12.63960091
    2A        168,875,000.00      960.77563790    0.00000018      10.26938209    0.00000000     0.00000000      10.26938226
   X-1A                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
   X-1B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    X-B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    A-R               100.00        0.00000000    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       0.00000000
    B-2         4,564,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    B-3         3,424,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    B-4         1,426,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    B-5           856,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    B-6         1,997,086.78     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------
    Ending                Ending
  Certificate           Certificate      Total Principal
    Balance              Percentage        Distribution
--------------------------------------------------------
<S>                     <C>              <C>
   972.44648518          0.97244649        12.63960091
   950.50625563          0.95050626        10.26938226
     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
  1000.00000000          1.00000000         0.00000000
  1000.00000000          1.00000000         0.00000000
  1000.00000000          1.00000000         0.00000000
  1000.00000000          1.00000000         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>
----------------------------------------------------------------------------------------------------------------------------
                                                   Beginning                        Payment of
                                     Current      Certificate/       Current          Unpaid        Current    Non-Supported
              Original Face        Certificate      Notional         Accrued         Interest       Interest     Interest
  Class           Amount               Rate         Balance          Interest        Shortfall      Shortfall    Shortfall
----------------------------------------------------------------------------------------------------------------------------
<S>           <C>                  <C>           <C>              <C>               <C>             <C>        <C>
   1A         381,698,000.00         1.77000%    375,996,523.11     554,594.87          0.00          0.00         0.00
   2A         168,875,000.00         3.59740%    162,250,985.85     486,401.82          0.00          0.00         0.00
  X-1A                  0.00         1.32276%    201,271,258.54     221,860.71          0.00          0.00         0.00
  X-1B                  0.00         1.57736%    174,725,264.57     229,669.93          0.00          0.00         0.00
   X-B                  0.00         1.15957%      7,702,000.00       7,442.49          0.00          0.00         0.00
   A-R                100.00         3.31668%              0.00           0.00          0.00          0.00         0.00
   B-1          7,702,000.00         2.17000%      7,702,000.00      13,927.78          0.00          0.00         0.00
   B-2          4,564,000.00         3.32957%      4,564,000.00      12,663.45          0.00          0.00         0.00
   B-3          3,424,000.00         3.32957%      3,424,000.00       9,500.36          0.00          0.00         0.00
   B-4          1,426,000.00         3.32957%      1,426,000.00       3,956.64          0.00          0.00         0.00
   B-5            856,000.00         3.32957%        856,000.00       2,375.09          0.00          0.00         0.00
   B-6          1,997,086.78         3.32957%      1,997,086.78       5,541.19          0.00          0.00         0.00
----------------------------------------------------------------------------------------------------------------------------
 Totals       570,533,186.78                                      1,547,934.33          0.00          0.00         0.00
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------
                                    Remaining       Ending
                                     Unpaid       Certificate/
   Realized     Total Interest      Interest       Notational
   Loss (4)      Distribution       Shortfall       Balance
--------------------------------------------------------------
<S>             <C>                 <C>         <C>
     0.00          554,594.87          0.00     371,172,126.48
     0.00          486,401.82          0.00     160,516,743.92
     0.00          221,862.68          0.00     198,154,754.93
     0.00          229,671.97          0.00     173,017,371.55
     0.00            7,446.50          0.00       7,702,000.00
     0.00                0.00          0.00               0.00
     0.00           13,927.78          0.00       7,702,000.00
     0.00           12,663.45          0.00       4,564,000.00
     0.00            9,500.36          0.00       3,424,000.00
     0.00            3,956.64          0.00       1,426,000.00
     0.00            2,375.09          0.00         856,000.00
     0.00            5,541.19          0.00       1,997,086.78
--------------------------------------------------------------
     0.00        1,547,942.35          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    Non-Supported
 Class        Original Face  Certificate     Certificate/         Accrued        Interest      Interest      Interest      Realized
  (5)            Amount         Rate       Notional Balance       Interest       Shortfall     Shortfall    Shortfall      Loss (6)
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>             <C>           <C>                   <C>            <C>          <C>           <C>            <C>
   1A        381,698,000.00    1.77000%       985.08608608       1.45300197     0.00000000   0.00000000    0.00000000     0.00000000
   2A        168,875,000.00    3.59740%       960.77563790       2.88024764     0.00000000   0.00000000    0.00000000     0.00000000
  X-1A                 0.00    1.32276%       987.75464796       1.08879901     0.00000000   0.00000000    0.00000000     0.00000000
  X-1B                 0.00    1.57736%       982.02990583       1.29084217     0.00000000   0.00000000    0.00000000     0.00000000
   X-B                 0.00    1.15957%      1000.00000000       0.96630615     0.00000000   0.00000000    0.00000000     0.00000000
   A-R               100.00    3.31668%         0.00000000       0.00000000     0.00000000   0.00000000    0.00000000     0.00000000
   B-1         7,702,000.00    2.17000%      1000.00000000       1.80833290     0.00000000   0.00000000    0.00000000     0.00000000
   B-2         4,564,000.00    3.32957%      1000.00000000       2.77463848     0.00000000   0.00000000    0.00000000     0.00000000
   B-3         3,424,000.00    3.32957%      1000.00000000       2.77463785     0.00000000   0.00000000    0.00000000     0.00000000
   B-4         1,426,000.00    3.32957%      1000.00000000       2.77464236     0.00000000   0.00000000    0.00000000     0.00000000
   B-5           856,000.00    3.32957%      1000.00000000       2.77463785     0.00000000   0.00000000    0.00000000     0.00000000
   B-6         1,997,086.78    3.32957%      1000.00000000       2.77463656     0.00000000   0.00000000    0.00000000     0.00000000
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------
                  Remaining
                   Unpaid
Total Interest    Interest        Ending Certificate/
 Distribution     Shortfall       Notational Balance
-----------------------------------------------------
<S>              <C>              <C>
  1.45300197     0.00000000          972.44648158
  2.88024764     0.00000000          950.50625563
  1.08880868     0.00000000          972.46015957
  1.29085364     0.00000000          972.43082452
  0.96682680     0.00000000         1000.00000000
  0.00000000     0.00000000            0.00000000
  1.80833290     0.00000000         1000.00000000
  2.77463848     0.00000000         1000.00000000
  2.77463785     0.00000000         1000.00000000
  2.77464236     0.00000000         1000.00000000
  2.77463785     0.00000000         1000.00000000
  2.77463656     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                         8,279,585.91
         Liquidations, Insurance Proceeds, Reserve Funds                    8.02
         Proceeds from Repurchased Loans                                    0.00
         Other Amounts (Servicer Advances)                              5,835.02
         Realized Losses                                                    0.00
         Prepayment Penalties                                               0.00
                                                                    ------------
Total Deposits                                                      8,285,428.95


Withdrawals
         Reimbursement for Servicer Advances                                0.00
         Payment of Service Fee                                       178,848.04
         Payment of Interest and Principal                          8,106,580.91
                                                                    ------------
Total Withdrawals (Pool Distribution Amount)                        8,285,428.95

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                                                   174,661.41
Master Servicing Fee                                                    4,186.63
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                    ------------
Net Servicing Fee                                                     178,848.04
                                                                    ============
</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            4.01             4.01        5,000.00
X-2 Basis Risk Reserve Fund              5,000.00            4.01             4.01        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            4      1,726,308.42  30 Days        0           0.00    30 Days        0           0.00
60 Days            1        143,581.31  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      1,869,889.73                 0           0.00                   0           0.00


0-29 Days      0.000000%    0.000000%   0-29 Days  0.000000%    0.000000%  0-29 Days  0.000000%    0.000000%
30 Days        0.269360%    0.312940%   30 Days    0.000000%    0.000000%  30 Days    0.000000%    0.000000%
60 Days        0.067340%    0.026028%   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%
               ----------------------              ----------------------             ----------------------
               0.336700%    0.338968%              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        4         1,726,308.42
60 Days        0         0.00     60 Days        1           143,581.31
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         1,869,889.73


0-29 Days  0.000000%   0.000000%   0-29 Days  0.000000%     0.000000%
30 Days    0.000000%   0.000000%   30 Days    0.269360%     0.312940%
60 Days    0.000000%   0.000000%   60 Days    0.067340%     0.026028%
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%              0.336700%     0.338968%
</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   5,835.02
</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%       551,657,957.18      100.00000000%         96.380169%            0.000000%
 Class 1A       188,844,086.78       33.09957968%       180,485,830.70       32.71698130%         67.283019%        1,858.733604%
 Class 2A        19,969,086.78        3.50007453%        19,969,086.78        3.61983119%         29.097150%          803.826162%
Class B-1        12,267,086.78        2.15010924%        12,267,086.78        2.22367621%          1.396155%           38.569616%
Class B-2         7,703,086.78        1.35015578%         7,703,086.78        1.39635197%          0.827324%           22.855327%
Class B-3         4,279,086.78        0.75001540%         4,279,086.78        0.77567752%          0.620674%           17.146503%
Class B-4         2,853,086.78        0.50007376%         2,853,086.78        0.51718402%          0.258494%            7.141038%
Class B-5         1,997,086.78        0.35003867%         1,997,086.78        0.36201540%          0.155169%            4.286626%
Class B-6                 0.00        0.00000000%                 0.00        0.00000000%          0.362015%           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         0.01812717%
                   Fraud    17,115,996.00        3.00000007%       17,115,996.00         3.10264645%
          Special Hazard     6,000,000.00        1.05164785%        5,999,500.00         1.08753983%
</TABLE>

Limit of subordinate's exposure to certain types of losses
<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            1        123,362.01  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
               ----------------------              ---------------------                 ----------------------
                   1        123,362.01                 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        0.099404%    0.032041%   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%
               ----------------------              ---------------------                 ----------------------
               0.099404%    0.032041%              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        1        123,362.01
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                   1        123,362.01
<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    0.099404%    0.032041%
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%             0.099404%    0.032041%
</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       1,602,946.41  30 Days         0          0.00     30 Days         0          0.00
60 Days           1         143,581.31  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
              ------------------------              ---------------------               ---------------------
                  4       1,746,527.72                  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       0.626305%    0.961963%    30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days       0.208768%    0.086166%    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%
              ------------------------              ---------------------               ---------------------
              0.835073%    1.048130%                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       1,602,946.41
60 Days          0          0.00    60 Days         1         143,581.31
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                    4       1,746,527.72

<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     0.626305%    0.961963%
60 Days      0.000000%   0.000000%  60 Days     0.208768%    0.086166%
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%              0.835073%    1.048130%
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                              Mixed Arm
<S>                                                              <C>
Weighted Average Gross Coupon                                         3.712070%
Weighted Average Net Coupon                                           3.336599%
Weighted Average Pass-Through Rate                                    3.327599%
Weighted Average Maturity (Stepdown Calculation)                            328

Beginning Scheduled Collateral Loan Count                                 1,497
Number of Loans Paid in Full                                                 12
Ending Scheduled Collateral Loan Count                                    1,485

Beginning Scheduled Collateral Balance                           558,216,595.75
Ending Scheduled Collateral Balance                              551,657,957.19
Ending Actual Collateral Balance at 31-Dec-2002                  551,642,673.35

Monthly P&I Constant                                               1,727,090.62
Special Servicing Fee                                                      0.00
Prepayment Penalties                                                       0.00
Realization Loss Amount                                                    0.00
Cumulative Realized Loss                                                   0.00

Class A Optimal Amount                                             8,051,165.89

Ending Scheduled Balance for Premium Loans                       551,657,957.19

Scheduled Principal                                                      308.23
Unscheduled Principal                                              6,558,330.33
</TABLE>


                            MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                 <C>
Pro Rata Senior Percent                                              96.422699%
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

Collateral Description                          Mixed ARM        6 Month ARM                Mixed ARM
<S>                                        <C>                 <C>                     <C>
Weighted Average Coupon Rate                     3.595742            3.981403                3.712070
Weighted Average Net Rate                        3.220069            3.606403                3.336599
Pass-Through Rate                                3.211069            3.597403                3.327599
Weighted Average Maturity                             312                 354                     328
Record Date                                    12/31/2002          12/31/2002              12/31/2002
Principal and Interest Constant              1,168,446.72          558,643.90            1,727,090.62
Beginning Loan Count                                1,014                 483                   1,497
Loans Paid in Full                                      8                   4                      12
Ending Loan Count                                   1,006                 479                   1,485
Beginning Scheduled Balance                389,840,609.90      168,375,985.85          558,216,595.75
Ending Scheduled Balance                   385,016,213.27      166,641,743.92          551,657,957.19
Scheduled Principal                                308.20                0.03                  308.23
Unscheduled Principal                        4,824,088.43        1,734,241.90            6,558,330.33
Scheduled Interest                           1,168,138.52          558,643.87            1,726,782.39
Servicing Fee                                  122,043.92           52,617.49              174,661.41
Master Servicing Fee                             2,923.81            1,262.82                4,186.63
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                                 1,043,170.79          504,763.56            1,547,934.35
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

<TABLE>
<CAPTION>
Group 1
-------
<S>                                                              <C>
One Month LIBOR Loans                                            205,545,589.70
Six Month LIBOR Loans                                            179,470,624.20
</TABLE>