<PAGE>
                                  EXHIBIT 10.1


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


                                SMT SERIES 2002-7
                         RECORD DATE: DECEMBER 31, 2002
                       DISTRIBUTION DATE: JANUARY 21, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
                               Certificate       Certificate            Beginning
                                  Class          Pass-Through          Certificate             Interest
 Class            CUSIP        Description           Rate                Balance             Distribution
---------------------------------------------------------------------------------------------------------
<S>              <C>           <C>               <C>                 <C>                     <C>
   A             81743YAA5         SEN               1.76000%        520,750,352.31            763,767.18
  A-R            SMT0207AR         SEN               3.52329%                  0.00                  0.00
  B-1            81743YAE7         SUB               2.17000%          8,080,000.00             14,611.33
  B-2            81743YAF4         SUB               3.24876%          5,771,000.00             15,623.83
  B-3            81743YAG2         SUB               3.24876%          3,463,000.00              9,375.38
  B-4            SMT0207B4         SUB               3.24876%          1,442,000.00              3,903.93
  B-5            SMT0207B5         SUB               3.24876%          1,154,000.00              3,124.22
  B-6            SMT0207B6         SUB               3.24876%          2,600,498.71              7,040.33
  X-1            81743YAC1         SEN               1.34577%                  0.00            102,067.15
  X-2            81743YAD9         SEN               1.51092%                  0.00            551,264.72
---------------------------------------------------------------------------------------------------------
Totals                                                               543,260,851.02          1,470,778.07
---------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
                                              Ending
  Principal               Current           Certificate              Total                 Cumulative
 Distribution          Realized Loss          Balance             Distribution            Realized Loss
---------------------------------------------------------------------------------------------------------
<S>                    <C>                 <C>                    <C>                     <C>
 3,264,161.58                  0.00        517,486,190.73          4,027,928.76                  0.00
         0.00                  0.00                  0.00                  0.00                  0.00
         0.00                  0.00          8,080,000.00             14,611.33                  0.00
         0.00                  0.00          5,771,000.00             15,623.83                  0.00
         0.00                  0.00          3,463,000.00              9,375.38                  0.00
         0.00                  0.00          1,442,000.00              3,903.93                  0.00
         0.00                  0.00          1,154,000.00              3,124.22                  0.00
         0.00                  0.00          2,600,498.71              7,040.33                  0.00
         0.00                  0.00                  0.00            102,067.15                  0.00
         0.00                  0.00                  0.00            551,264.72                  0.00
---------------------------------------------------------------------------------------------------------
 3,264,161.58                  0.00        539,996,689.44          4,734,939.65                  0.00
---------------------------------------------------------------------------------------------------------
</TABLE>

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


                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------
                                 Beginning          Scheduled         Unscheduled
            Original Face       Certificate         Principal          Principal
   Class        Amount            Balance          Distribution       Distribution          Accretion
------------------------------------------------------------------------------------------------------
<S>         <C>                <C>                 <C>                <C>                   <C>
     A      554,686,000.00     520,750,352.31               0.00       3,264,161.58               0.00
    A-R             100.00               0.00               0.00               0.00               0.00
    B-1       8,080,000.00       8,080,000.00               0.00               0.00               0.00
    B-2       5,771,000.00       5,771,000.00               0.00               0.00               0.00
    B-3       3,463,000.00       3,463,000.00               0.00               0.00               0.00
    B-4       1,442,000.00       1,442,000.00               0.00               0.00               0.00
    B-5       1,154,000.00       1,154,000.00               0.00               0.00               0.00
    B-6       2,600,498.71       2,600,498.71               0.00               0.00               0.00
    X-1              50.00               0.00               0.00               0.00               0.00
    X-2              50.00               0.00               0.00               0.00               0.00
------------------------------------------------------------------------------------------------------
Totals      577,196,698.71     543,260,851.02               0.00       3,264,161.58               0.00
------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------
                                          Ending               Ending
     Realized      Total Principal      Certificate          Certificate      Total Principal
     Loss (1)         Reduction           Balance            Percentage        Distribution
---------------------------------------------------------------------------------------------
<S>                <C>                 <C>                   <C>              <C>
           0.00       3,264,161.58     517,486,190.73         0.93293537       3,264,161.58
           0.00               0.00               0.00         0.00000000               0.00
           0.00               0.00       8,080,000.00         1.00000000               0.00
           0.00               0.00       5,771,000.00         1.00000000               0.00
           0.00               0.00       3,463,000.00         1.00000000               0.00
           0.00               0.00       1,442,000.00         1.00000000               0.00
           0.00               0.00       1,154,000.00         1.00000000               0.00
           0.00               0.00       2,600,498.71         1.00000000               0.00
           0.00               0.00               0.00         0.00000000               0.00
           0.00               0.00               0.00         0.00000000               0.00
---------------------------------------------------------------------------------------------
           0.00       3,264,161.58     539,996,689.44         0.93555055       3,264,161.58
---------------------------------------------------------------------------------------------
</TABLE>

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

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                               Beginning          Scheduled         Unscheduled
          Original Face       Certificate         Principal          Principal
Class        Amount             Balance          Distribution       Distribution         Accretion
---------------------------------------------------------------------------------------------------
<S>      <C>                 <C>                 <C>                <C>                  <C>
  A      554,686,000.00       938.82007534         0.00000000         5.88470158         0.00000000
 A-R             100.00         0.00000000         0.00000000         0.00000000         0.00000000
 B-1       8,080,000.00      1000.00000000         0.00000000         0.00000000         0.00000000
 B-2       5,771,000.00      1000.00000000         0.00000000         0.00000000         0.00000000
 B-3       3,463,000.00      1000.00000000         0.00000000         0.00000000         0.00000000
 B-4       1,442,000.00      1000.00000000         0.00000000         0.00000000         0.00000000
 B-5       1,154,000.00      1000.00000000         0.00000000         0.00000000         0.00000000
 B-6       2,600,498.71      1000.00000000         0.00000000         0.00000000         0.00000000
 X-1              50.00         0.00000000         0.00000000         0.00000000         0.00000000
 X-2              50.00         0.00000000         0.00000000         0.00000000         0.00000000
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------
                        Total             Ending              Ending
    Realized          Principal        Certificate         Certificate       Total Principal
    Loss (3)          Reduction          Balance            Percentage        Distribution
--------------------------------------------------------------------------------------------
<S>                   <C>             <C>                  <C>               <C>
   0.00000000         5.88470158       932.93537376         0.93293537         5.88470158
   0.00000000         0.00000000         0.00000000         0.00000000         0.00000000
   0.00000000         0.00000000      1000.00000000         1.00000000         0.00000000
   0.00000000         0.00000000      1000.00000000         1.00000000         0.00000000
   0.00000000         0.00000000      1000.00000000         1.00000000         0.00000000
   0.00000000         0.00000000      1000.00000000         1.00000000         0.00000000
   0.00000000         0.00000000      1000.00000000         1.00000000         0.00000000
   0.00000000         0.00000000      1000.00000000         1.00000000         0.00000000
   0.00000000         0.00000000         0.00000000         0.00000000         0.00000000
   0.00000000         0.00000000         0.00000000         0.00000000         0.00000000
--------------------------------------------------------------------------------------------
</TABLE>

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

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------
                                                                                                  Payment of
                                     Current          Beginning              Current                Unpaid
             Original Face         Certificate       Certificate/            Accrued               Interest
 Class          Amount                Rate         Notional Balance          Interest              Shortfall
-------------------------------------------------------------------------------------------------------------
<S>         <C>                    <C>             <C>                     <C>                    <C>
   A        554,686,000.00             1.76000%      520,750,352.31          763,767.18                0.00
  A-R               100.00             3.52329%                0.00                0.00                0.00
  B-1         8,080,000.00             2.17000%        8,080,000.00           14,611.33                0.00
  B-2         5,771,000.00             3.24876%        5,771,000.00           15,623.83                0.00
  B-3         3,463,000.00             3.24876%        3,463,000.00            9,375.38                0.00
  B-4         1,442,000.00             3.24876%        1,442,000.00            3,903.93                0.00
  B-5         1,154,000.00             3.24876%        1,154,000.00            3,124.22                0.00
  B-6         2,600,498.71             3.24876%        2,600,498.71            7,040.33                0.00
  X-1                50.00             1.34577%       91,010,144.65          102,065.90                0.00
  X-2                50.00             1.51092%      437,820,207.66          551,257.96                0.00
-------------------------------------------------------------------------------------------------------------
Totals      577,196,698.71                                                 1,470,770.06                 0.00
-------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
                                                                               Remaining             Ending
 Current       Non-Supported                                                    Unpaid            Certificate/
 Interest       Interest              Realized        Total Interest           Interest            Notational
 Shortfall      Shortfall             Loss (4)         Distribution            Shortfall            Balance
--------------------------------------------------------------------------------------------------------------
<S>            <C>                    <C>             <C>                      <C>              <C>
    0.00                0.00                0.00          763,767.18                0.00        517,486,190.73
    0.00                0.00                0.00                0.00                0.00                  0.00
    0.00                0.00                0.00           14,611.33                0.00          8,080,000.00
    0.00                0.00                0.00           15,623.83                0.00          5,771,000.00
    0.00                0.00                0.00            9,375.38                0.00          3,463,000.00
    0.00                0.00                0.00            3,903.93                0.00          1,442,000.00
    0.00                0.00                0.00            3,124.22                0.00          1,154,000.00
    0.00                0.00                0.00            7,040.33                0.00          2,600,498.71
    0.00                0.00                0.00          102,067.15                0.00         90,852,383.59
    0.00                0.00                0.00          551,264.72                0.00        434,713,807.14
--------------------------------------------------------------------------------------------------------------
    0.00                0.00                0.00        1,470,778.07                0.00
--------------------------------------------------------------------------------------------------------------
</TABLE>

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

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
                                                                                                   Payment of
                                      Current          Beginning              Current                Unpaid
Class (5)   Original Face           Certificate       Certificate/            Accrued               Interest
                Amount                  Rate        Notional Balance          Interest              Shortfall
--------------------------------------------------------------------------------------------------------------
<S>        <C>                      <C>             <C>                    <C>                      <C>
  A        554,686,000.00              1.76000%         938.82007534           1.37693610           0.00000000
 A-R               100.00              3.52329%           0.00000000           0.00000000           0.00000000
 B-1         8,080,000.00              2.17000%        1000.00000000           1.80833292           0.00000000
 B-2         5,771,000.00              3.24876%        1000.00000000           2.70730029           0.00000000
 B-3         3,463,000.00              3.24876%        1000.00000000           2.70730003           0.00000000
 B-4         1,442,000.00              3.24876%        1000.00000000           2.70730236           0.00000000
 B-5         1,154,000.00              3.24876%        1000.00000000           2.70729636           0.00000000
 B-6         2,600,498.71              3.24876%        1000.00000000           2.70729994           0.00000000
 X-1                50.00              1.34577%     1820202.89300000        2041.31800000           0.00000000
 X-2                50.00              1.51092%     8756404.15320000       11025.15920000           0.00000000
--------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
                                                                                      Remaining
    Current           Non-Supported                                                    Unpaid
   Interest             Interest             Realized         Total Interest          Interest      Ending Certificate/
   Shortfall            Shortfall            Loss (6)          Distribution           Shortfall     Notational Balance
-----------------------------------------------------------------------------------------------------------------------
<S>                   <C>                    <C>             <C>                      <C>           <C>
   0.00000000           0.00000000           0.00000000           1.37693610           0.00000000         932.93537376
   0.00000000           0.00000000           0.00000000           0.00000000           0.00000000           0.00000000
   0.00000000           0.00000000           0.00000000           1.80833292           0.00000000        1000.00000000
   0.00000000           0.00000000           0.00000000           2.70730029           0.00000000        1000.00000000
   0.00000000           0.00000000           0.00000000           2.70730003           0.00000000        1000.00000000
   0.00000000           0.00000000           0.00000000           2.70730236           0.00000000        1000.00000000
   0.00000000           0.00000000           0.00000000           2.70729636           0.00000000        1000.00000000
   0.00000000           0.00000000           0.00000000           2.70729994           0.00000000        1000.00000000
   0.00000000           0.00000000           0.00000000        2041.34300000           0.00000000     1817047.67180000
   0.00000000           0.00000000           0.00000000       11025.29440000           0.00000000     8694276.14280000
-----------------------------------------------------------------------------------------------------------------------
</TABLE>

(5)  Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits

         Payments of Interest and Principal                         4,907,691.79
         Liquidations, Insurance Proceeds, Reserve Funds                    8.01
         Proceeds from Repurchased Loans                                    0.00
         Other Amounts (Servicer Advances)                              1,741.17
         Realized Losses                                                    0.00
         Prepayment Penalties                                               0.00
                                                                    ------------

Total Deposits                                                      4,909,440.97

Withdrawals

         Reimbursement for Servicer Advances                                0.00
         Payment of Service Fee                                       174,501.32
         Payment of Interest and Principal                          4,734,939.65
                                                                    ------------

Total Withdrawals (Pool Distribution Amount)                        4,909,440.97

Ending Balance                                                              0.00
                                                                    ============
</TABLE>
<PAGE>
                    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                                              169,974.13
  Master Servicing Fee                                               4,527.19
  Supported Prepayment/Curtailment Interest Shortfall                    0.00
                                                                   ----------

  Net Servicing Fee                                                174,501.32
                                                                   ==========
</TABLE>



<TABLE>
<CAPTION>
                                          Beginning          Current          Current       Ending
         Account Type                      Balance         Withdrawals       Deposits       Balance
---------------------------------------------------------------------------------------------------
<S>                                      <C>               <C>               <C>           <C>
Basis Risk Reserve Fund - X-1             1,512.88            1.25             1.21        1,512.84
Basis Risk Reserve Fund - X-2             8,487.12            6.76             6.80        8,487.16
</TABLE>
<PAGE>
             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
             DELINQUENT                            BANKRUPTCY                          FORECLOSURE
-------------------------------------  ----------------------------------  -----------------------------------
                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
<S>            <C>         <C>         <C>         <C>         <C>         <C>         <C>          <C>
30 Days            0             0.00  30 Days         0             0.00  30 Days         0              0.00
60 Days            0             0.00  60 Days         0             0.00  60 Days         0              0.00
90 Days            1       475,900.65  90 Days         0             0.00  90 Days         0              0.00
120 Days           1       137,956.87  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
               ----------------------              ----------------------              -----------------------
                   2       613,857.52                  0             0.00                  0              0.00



30 Days        0.000000%    0.000000%  30 Days     0.000000%    0.000000%  30 Days     0.000000%     0.000000%
60 Days        0.000000%    0.000000%  60 Days     0.000000%    0.000000%  60 Days     0.000000%     0.000000%
90 Days        0.067476%    0.088131%  90 Days     0.000000%    0.000000%  90 Days     0.000000%     0.000000%
120 Days       0.067476%    0.025548%  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%
               ----------------------              ----------------------              -----------------------
               0.134953%    0.113679%              0.000000%    0.000000%              0.000000%     0.000000%
</TABLE>

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

              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
----------------------------------  ----------------------------------
<S>            <C>         <C>         <C>         <C>         <C>
30 Days         0             0.00  30 Days         0             0.00
60 Days         0             0.00  60 Days         0             0.00
90 Days         0             0.00  90 Days         1       475,900.65
120 Days        0             0.00  120 Days        1       137,956.87
150 Days        0             0.00  150 Days        0             0.00
180+ Days       0             0.00  180+ Days       0             0.00
            ----------------------              ----------------------
                0             0.00                  2       613,857.52



30 Days     0.000000%    0.000000%  30 Days     0.000000%    0.000000%
60 Days     0.000000%    0.000000%  60 Days     0.000000%    0.000000%
90 Days     0.000000%    0.000000%  90 Days     0.067476%    0.088131%
120 Days    0.000000%    0.000000%  120 Days    0.067476%    0.025548%
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%              0.134953%    0.113679%
</TABLE>


Current Period Class A Insufficient Funds:           0.00
Principal Balance of Contaminated Properties         0.00
Periodic Advance                                 1,741.17


<TABLE>
<CAPTION>
                   Original $     Original %       Current $        Current %
<S>              <C>              <C>            <C>                <C>
    Bankruptcy      100,261.00    0.01737033%       100,261.00      0.01856697%
         Fraud   17,315,901.00    3.00000001%    17,315,901.00      3.20666799%
Special Hazard    5,771,967.00    1.00000000%     5,432,608.51      1.00604478%
</TABLE>

Limit of subordinate's exposure to certain types of losses
<PAGE>
                           DELINQUENCY STATUS BY GROUP

                                 ONE-MONTH LIBOR

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



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

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



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


                                 SIX-MONTH LIBOR

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
             DELINQUENT                            BANKRUPTCY                          FORECLOSURE
-------------------------------------  ----------------------------------  -----------------------------------
                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
<S>            <C>         <C>         <C>         <C>         <C>         <C>         <C>          <C>
30 Days            0             0.00  30 Days         0             0.00  30 Days         0              0.00
60 Days            0             0.00  60 Days         0             0.00  60 Days         0              0.00
90 Days            1       475,900.65  90 Days         0             0.00  90 Days         0              0.00
120 Days           1       137,956.87  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
               ---------------------               ----------------------              -----------------------
                   2       613,857.52                  0             0.00                  0              0.00



30 Days        0.000000%    0.000000%  30 Days     0.000000%    0.000000%  30 Days     0.000000%     0.000000%
60 Days        0.000000%    0.000000%  60 Days     0.000000%    0.000000%  60 Days     0.000000%     0.000000%
90 Days        0.080128%    0.106550%  90 Days     0.000000%    0.000000%  90 Days     0.000000%     0.000000%
120 Days       0.080128%    0.030887%  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%
               ---------------------               ----------------------              -----------------------
               0.160256%    0.137437%              0.000000%    0.000000%              0.000000%     0.000000%
</TABLE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------
               REO                                TOTAL
----------------------------------  ----------------------------------
              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
<S>         <C>         <C>         <C>         <C>         <C>
30 Days         0             0.00  30 Days         0             0.00
60 Days         0             0.00  60 Days         0             0.00
90 Days         0             0.00  90 Days         1       475,900.65
120 Days        0             0.00  120 Days        1       137,956.87
150 Days        0             0.00  150 Days        0             0.00
180+ Days       0             0.00  180+ Days       0             0.00
            ----------------------              ----------------------
                0             0.00                  2       613,857.52



30 Days     0.000000%    0.000000%  30 Days     0.000000%    0.000000%
60 Days     0.000000%    0.000000%  60 Days     0.000000%    0.000000%
90 Days     0.000000%    0.000000%  90 Days     0.080128%    0.106550%
120 Days    0.000000%    0.000000%  120 Days    0.080128%    0.030887%
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%              0.160256%    0.137437%
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                         Mixed Fixed & Arm
<S>                                                            <C>
Weighted Average Gross Coupon                                          3.634213%
Weighted Average Net Coupon                                            3.258760%
Weighted Average Pass-Through Rate                                     3.248760%
Weighted Average Maturity (Stepdown Calculation)                             352

Beginning Scheduled Collateral Loan Count                                  1,491
Number of Loans Paid in Full                                                   9
Ending Scheduled Collateral Loan Count                                     1,482

Beginning Scheduled Collateral Balance                            543,260,851.02
Ending Scheduled Collateral Balance                               539,996,689.44
Ending Actual Collateral Balance at 31-Dec-2002                   539,993,123.75

Monthly P&I Constant                                                1,645,280.26
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realization Loss Amount                                                     0.00
Cumulative Realized Loss                                                    0.00
Scheduled Principal                                                         0.00
Unscheduled Principal                                               3,264,161.58
</TABLE>


                            MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                 <C>
Pro Rata Senior Percent                                              95.856411%
Senior Percent                                                      100.000000%
Senior Prepay Percent                                               100.000000%
Subordinate Percent                                                   0.000000%
Subordinate Prepay Percent                                            0.000000%
Basis RiskReserve Fund Income X-1                                          1.21
Basis Risk Reserve Fund Income X-2                                         6.80
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                 GROUP                    ONE MONTH LIBOR      SIX MONTH LIBOR           TOTAL

Collateral Description                            Monthly        6 Month Arm        Mixed Fixed & Arm
<S>                                       <C>                  <C>                  <C>
Weighted Average Coupon Rate                     3.497038            3.662728                3.634213
Weighted Average Net Rate                        3.122038            3.287180                3.258760
Pass-Through Rate                                3.112038            3.277180                3.248760
Weighted Average Maturity                             312                 313                     352
Record Date                                    12/31/2002          12/31/2002              12/31/2002
Principal and Interest Constant                272,467.79        1,372,812.47            1,645,280.26
Beginning Loan Count                                  235               1,256                   1,491
Loans Paid in Full                                      1                   8                       9
Ending Loan Count                                     234               1,248                   1,482
Beginning Scheduled Balance                 93,493,590.94      449,767,260.08          543,260,851.02
Ending Scheduled Balance                    93,346,922.29      446,649,767.15          539,996,689.44
Scheduled Principal                                  0.00                0.00                    0.00
Unscheduled Principal                          146,668.65        3,117,492.93            3,264,161.58
Scheduled Interest                             272,458.89        1,372,812.47            1,645,271.36
Servicing Fee                                   29,216.75          140,757.38              169,974.13
Master Servicing Fee                               779.12            3,748.07                4,527.19
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                                   242,463.02        1,228,307.02            1,470,770.04
Realized Loss Amount                                 0.00                0.00                    0.00
Cumulative Realized Loss                             0.00                0.00                    0.00
Percentage of Cumulative Losses                      0.00                0.00                    0.00
Prepayment Penalties                                 0.00                0.00                    0.00
Special Servicing Fee                                0.00                0.00                    0.00
</TABLE>