<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 2002-8
                         RECORD DATE: DECEMBER 31, 2002
                      DISTRIBUTION DATE: JANUARY 21, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                            Certificate                          Beginning
                               Class       Certificate Pass-    Certificate          Interest         Principal        Current
 Class          CUSIP       Description      Through Rate         Balance          Distribution     Distribution    Realized Loss
---------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>            <C>                 <C>                 <C>              <C>             <C>
  1-A1         81743RAA0        SEN            1.55000%         24,576,636.25         33,861.14     1,903,390.03             0.00
  1-A2         81743RAB8        SEN            3.45500%         61,468,000.00        176,976.62             0.00             0.00
   2A          81743RAC6        SEN            1.72000%        447,807,524.44        641,857.45     4,256,434.92             0.00
   3A          81743RAD4        SEN            3.38308%         47,834,086.18        134,855.25       228,263.72             0.00
   X-1         81743RAE2         IO            2.39551%                  0.00        171,769.62             0.00             0.00
  X-2A        81743RAFf9         IO            1.36253%                  0.00        208,484.52             0.00             0.00
  X-2B         81743AFG7         IO            1.41097%                  0.00        310,644.36             0.00             0.00
   X-B         81743RAH5         IO            1.43481%                  0.00         10,845.57             0.00             0.00
   A-R         81743RAJ1        SEN            5.37348%                  0.00              0.00             0.00             0.00
   B-1         81743RAK8        SUB            2.09500%          9,069,000.00         15,832.96             0.00             0.00
   B-2         81743RAL6        SUB            3.52981%          5,505,000.00         16,192.99             0.00             0.00
   B-3         81743RAM4        SUB            3.52981%          3,886,000.00         11,430.69             0.00             0.00
   B-4         SMT0208B4        SUB            3.52981%          1,618,000.00          4,759.36             0.00             0.00
   B-5         SMT0208B5        SUB            3.52981%            970,000.00          2,853.26             0.00             0.00
   B-6         SMT0208B6        SUB            3.52981%          2,306,324.82          6,784.07             0.00             0.00
                                                               ------------------------------------------------------------------
Totals                                                         605,040,571.69      1,747,147.86     6,388,088.67             0.00
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
             --------------------------------------------------
                Ending
              Certificate           Total          Cumulative
 Class          Balance          Distribution     Realized Loss
---------------------------------------------------------------
<S>          <S>                 <C>              <C>
  1-A1        22,673,246.22      1,937,251.17              0.00
  1-A2        61,468,000.00        176,976.62              0.00
   2A        443,551,089.52      4,898,292.37              0.00
   3A         47,605,822.46        363,118.97              0.00
   X-1                 0.00        171,769.62              0.00
  X-2A                 0.00        208,484.52              0.00
  X-2B                 0.00        310,644.36              0.00
   X-B                 0.00         10,845.57              0.00
   A-R                 0.00              0.00              0.00
   B-1         9,069,000.00         15,832.96              0.00
   B-2         5,505,000.00         16,192.99              0.00
   B-3         3,886,000.00         11,430.69              0.00
   B-4         1,618,000.00          4,759.36              0.00
   B-5           970,000.00          2,853.26              0.00
   B-6         2,306,324.82          6,784.07              0.00
             --------------------------------------------------
Totals       598,652.483.02      8,135,236.53              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>
  1-A1        50,000,000.00     24,576,636.25        438.53     1,902,951.50         0.00          0.00       1,903,390.03
  1-A2        61,468,000.00     61,468,000.00          0.00             0.00         0.00          0.00               0.00
   2A        463,097,000.00    447,807,524.44        439.11     4,255,995.81         0.00          0.00       4,256,434.92
   3A         49,973,000.00     47,834,086.18          0.00       228,263.72         0.00          0.00         228,263.72
   X-1                 0.00              0.00          0.00             0.00         0.00          0.00               0.00
  X-2A                 0.00              0.00          0.00             0.00         0.00          0.00               0.00
  X-2B                 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         9,069,000.00      9,069,000.00          0.00             0.00         0.00          0.00               0.00
   B-2         5,505,000.00      5,505,000.00          0.00             0.00         0.00          0.00               0.00
   B-3         3,886,000.00      3,886,000.00          0.00             0.00         0.00          0.00               0.00
   B-4         1,618,000.00      1,618,000.00          0.00             0.00         0.00          0.00               0.00
   B-5           970,000.00        970,000.00          0.00             0.00         0.00          0.00               0.00
   B-6         2,306,324.82      2,306,324.82          0.00             0.00         0.00          0.00               0.00
             -------------------------------------------------------------------------------------------------------------
Totals       647,892,424.82    605,040,571.69        877.64     6,387,211.03         0.00          0.00       6,388,088.67
--------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------
                Ending               Ending
              Certificate          Certificate     Total Principal
  Class         Balance             Percentage      Distribution
------------------------------------------------------------------
<S>          <S>                  <C>                 <C>
  1-A1        22,673,246.22          0.45346492       1,903,390.03
  1-A2        61,468,000.00          1.00000000               0.00
   2A        443,551,089.52          0.95779305       4,256,434.92
   3A         47,605,822.46          0.95263087         228,263.72
   X-1                 0.00          0.00000000               0.00
  X-2A                 0.00          0.00000000               0.00
  X-2B                 0.00          0.00000000               0.00
   X-B                 0.00          0.00000000               0.00
   A-R                 0.00          0.00000000               0.00
   B-1         9,069,000.00          1.00000000               0.00
   B-2         5,505,000.00          1.00000000               0.00
   B-3         3,886,000.00          1.00000000               0.00
   B-4         1,618,000.00          1.00000000               0.00
   B-5           970,000.00          1.00000000               0.00
   B-6         2,306,324.82          1.00000000               0.00
             -----------------------------------------------------
Totals       598,652,483.02          0.92399982       6,388,088.67
------------------------------------------------------------------
</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>
   1-A1        50,000,000.00      491.53272500    0.00877060      38.05903000    0.00000000     0.00000000      38.06780060
   1-A2        61,468,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    2A        463,097,000.00      966.98429150    0.00094820       9.19029018    0.00000000     0.00000000       9.19123838
    3A         49,973,000.00      957.19861085    0.00000000       4.56774098    0.00000000     0.00000000       4.56774098
    X-1                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
   X-2A                 0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
   X-2B                 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     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    B-1         9,069,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    B-2         5,505,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    B-3         3,886,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    B-4         1,618,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    B-5           970,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
    B-6         2,306,324.82     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------
                Ending            Ending
              Certificate       Certificate    Total Principal
   Class        Balance          Percentage      Distribution
--------------------------------------------------------------
<S>           <S>                <C>           <C>
   1-A1        453.46492440      0.45346492        38.06780060
   1-A2       1000.00000000      1.00000000         0.00000000
    2A         957.79305312      0.95779305         9.19123838
    3A         952.63086987      0.95263087         4.56774098
    X-1          0.00000000      0.00000000         0.00000000
   X-2A          0.00000000      0.00000000         0.00000000
   X-2B          0.00000000      0.00000000         0.00000000
    X-B          0.00000000      0.00000000         0.00000000
    A-R          0.00000000      0.00000000         0.00000000
    B-1       1000.00000000      1.00000000         0.00000000
    B-2       1000.00000000      1.00000000         0.00000000
    B-3       1000.00000000      1.00000000         0.00000000
    B-4       1000.00000000      1.00000000         0.00000000
    B-5       1000.00000000      1.00000000         0.00000000
    B-6       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                    Non-
                                 Current      Certificate/      Current        Unpaid        Current      Supported
             Original Face     Certificate      Notional        Accrued       Interest       Interest     Interest    Realized
  Class         Amount             Rate         Balance         Interest      Shortfall      Shortfall    Shortfall    Loss (4)
--------------------------------------------------------------------------------------------------------------------------------
<S>          <C>               <C>           <C>              <C>             <C>            <C>          <C>         <C>
  1-A1         50,000,000.00     1.55000%     24,576,636.25      33,861.14          0.00          0.00         0.00      0.00
  1-A2         61,468,000.00     3.45500%     61,468,000.00     176,976.62          0.00          0.00         0.00      0.00
   2A         463,097,000.00     1.72000%    447,807,524.44     641,857.45          0.00          0.00         0.00      0.00
   3A          49,973,000.00     3.38308%     47,834,086.18     134,855.25          0.00          0.00         0.00      0.00
   X-1                  0.00     2.39551%     86,044,636.25     171,767.61          0.00          0.00         0.00      0.00
  X-2A                  0.00     1.36253%    183,613,498.42     208,482.91          0.00          0.00         0.00      0.00
  X-2B                  0.00     1.41097%    264,194,026.02     310,641.96          0.00          0.00         0.00      0.00
   X-B                  0.00     1.43481%      9,069,000.00      10,843.56          0.00          0.00         0.00      0.00
   A-R                100.00     5.37348%              0.00           0.00          0.00          0.00         0.00      0.00
   B-1          9,069,000.00     2.09500%      9,069,000.00      15,832.96          0.00          0.00         0.00      0.00
   B-2          5,505,000.00     3.52981%      5,505,000.00      16,192.99          0.00          0.00         0.00      0.00
   B-3          3,886,000.00     3.52981%      3,886,000.00      11,430.69          0.00          0.00         0.00      0.00
   B-4          1,618,000.00     3.52981%      1,618,000.00       4,759.36          0.00          0.00         0.00      0.00
   B-5            970,000.00     3.52981%        970,000.00       2,853.26          0.00          0.00         0.00      0.00
   B-6          2,306,324.82     3.52981%      2,306,324.82       6,784.07          0.00          0.00         0.00      0.00
--------------------------------------------------------------------------------------------------------------------------------
 Totals       647,892,424.82                                  1,747,139.83          0.00          0.00         0.00      0.00
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------
                                Remaining         Ending
                                 Unpaid        Certificate/
             Total Interest     Interest        Notational
  Class        Distribution     Shortfall         Balance
------------------------------------------------------------
<S>          <S>                <C>           <C>
  1-A1            33,861.14          0.00      22,673,246.22
  1-A2           176,976.62          0.00      61,468,000.00
   2A            641,857.45          0.00     443,551,089.52
   3A            134,855.25          0.00      47,605,822.46
   X-1           171,769.62          0.00      84,141,246.22
  X-2A           208,484.52          0.00     180,953,688.33
  X-2B           310,644.36          0.00     262,597,401.19
   X-B            10,845.57          0.00       9,069,000.00
   A-R                 0.00          0.00               0.00
   B-1            15,832.96          0.00       9,069,000.00
   B-2            16,192.99          0.00       5,505,000.00
   B-3            11,430.69          0.00       3,886,000.00
   B-4             4,759.36          0.00       1,618,000.00
   B-5             2,853.26          0.00         970,000.00
   B-6             6,784.07          0.00       2,306,324.82
------------------------------------------------------------
 Totals        1,747,147.86          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                    Non-
                               Current        Beginning                            Unpaid       Current      Supported
            Original Face    Certificate     Certificate/     Current Accrued     Interest     Interest      Interest
Class (5)       Amount          Rate       Notional Balance       Interest        Shortfall    Shortfall     Shortfall
------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>           <C>                <C>                <C>           <C>           <C>
  1-A1        50,000,000.00    1.55000%        491.53272500        0.67722280     0.00000000   0.00000000    0.00000000
  1-A2        61,468,000.00    3.45500%       1000.00000000        2.87916672     0.00000000   0.00000000    0.00000000
   2A        463,097,000.00    1.72000%        966.98429150        1.38601081     0.00000000   0.00000000    0.00000000
   3A         49,973,000.00    3.38308%        957.19861085        2.69856222     0.00000000   0.00000000    0.00000000
   X-1                 0.00    2.39551%        771.92231178        1.54095893     0.00000000   0.00000000    0.00000000
  X-2A                 0.00    1.36253%        974.77640995        1.10680437     0.00000000   0.00000000    0.00000000
  X-2B                 0.00    1.41097%        961.64177993        1.13070796     0.00000000   0.00000000    0.00000000
   X-B                 0.00    1.43481%       1000.00000000        1.19567317     0.00000000   0.00000000    0.00000000
   A-R               100.00    5.37348%          0.00000000        0.00000000     0.00000000   0.00000000    0.00000000
   B-1         9,069,000.00    2.09500%       1000.00000000        1.74583306     0.00000000   0.00000000    0.00000000
   B-2         5,505,000.00    3.52981%       1000.00000000        2.94150590     0.00000000   0.00000000    0.00000000
   B-3         3,886,000.00    3.52981%       1000.00000000        2.94150540     0.00000000   0.00000000    0.00000000
   B-4         1,618,000.00    3.52981%       1000.00000000        2.94150803     0.00000000   0.00000000    0.00000000
   B-5           970,000.00    3.52981%       1000.00000000        2.94150515     0.00000000   0.00000000    0.00000000
   B-6         2,306,324.82    3.52981%       1000.00000000        2.94150674     0.00000000   0.00000000    0.00000000
------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------
                             Remaining
                               Unpaid
 Realized   Total Interest    Interest    Ending Certificate/
 Loss (6)    Distribution     Shortfall   Notational Balance
-------------------------------------------------------------
<S>         <C>              <C>          <C>
0.00000000      0.67722280   0.00000000         453.46492440
0.00000000      2.87916672   0.00000000        1000.00000000
0.00000000      1.38601081   0.00000000         957.79305312
0.00000000      2.69856222   0.00000000         952.63086987
0.00000000      1.54097696   0.00000000         754.84664854
0.00000000      1.10681292   0.00000000         960.65587877
0.00000000      1.13071669   0.00000000         955.83021346
0.00000000      1.19589481   0.00000000        1000.00000000
0.00000000      0.00000000   0.00000000           0.00000000
0.00000000      1.74583306   0.00000000        1000.00000000
0.00000000      2.94150590   0.00000000        1000.00000000
0.00000000      2.94150540   0.00000000        1000.00000000
0.00000000      2.94150803   0.00000000        1000.00000000
0.00000000      2.94150515   0.00000000        1000.00000000
0.00000000      2.94150674   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.

                      CERTIFICATEHOLDER ACCOUNT STATEMENT

                              CERTIFICATE ACCOUNT

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

Deposits

         Payments of Interest and Principal                         8,321,651.61
         Liquidations, Insurance Proceeds, Reserve Funds                    8.02
         Proceeds from Repurchased Loans                                    0.00
         Other Amounts (Servicer Advances)                              2,370.32
         Realized Losses                                                    0.00
         Prepayment Penalties                                               0.00
                                                                 ---------------
Total Deposits                                                      8,324,029.95

Withdrawals

         Reimbursement for Servicer Advances                                0.00
         Payment of Service Fee                                       188,793.42
         Payment of Interest and Principal                          8,135,236.53
                                                                 ---------------
Total Withdrawals (Pool Distribution Amount)                        8,324,029.95

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                                                   184,255.62
Master Servicing Fee                                                    4,537.80
Non-Supported Prepayment/Curtailment Interest Shortfall                     0.00
                                                                    ------------
Net Servicing Fee                                                     188,793.42
                                                                    ============
</TABLE>

<TABLE>
<CAPTION>
                                      Beginning      Current       Current       Ending
           Account Type                Balance     Withdrawals     Deposits      Balance
----------------------------------------------------------------------------------------
<S>                                   <C>          <C>             <C>          <C>
Class X-1 Basis Risk Reserve Fund     2,500.00        2.01           2.01       2,500.00
Class X-2 Basis Risk Reserve Fund     5,000.00        4.01           4.01       5,000.00
Class X-B Basis Risk Reserve Fund     2,500.00        2.01           2.01       2,500.00
</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>
0-29 Days          0             0.00  0-29 Days       0             0.00  0-29 Days       0              0.00
30 Days            2       679,884.98  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
               ----------------------              ----------------------              -----------------------
                   2       679,884.98                  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        0.129450%    0.113569%  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%
               ----------------------              ----------------------              -----------------------
               0.129450%    0.113569%              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         2       679,884.98
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                  2       679,884.98


0-29 Days   0.000000%    0.000000%  0-29 Days   0.000000%    0.000000%
30 Days     0.000000%    0.000000%  30 Days     0.129450%    0.113569%
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%              0.129450%    0.113569%
</TABLE>

Current Period Class A Insufficient Funds:           0.00
Principal Balance of Contaminated Properties         0.00
Periodic Advance                                 2,370.32
<PAGE>
<TABLE>
<CAPTION>
                    Original $         Original%         Current $        Current %      Current Class %     Prepayment %
                  --------------     ------------     --------------    -------------    ---------------     -------------
<S>               <C>                <C>              <C>               <C>              <C>                 <C>
Class A           647,892,324.82     99.99998457%     598,652,483.02    100.00000000%       96.098851%           0.000000%
Class 1-A-1       597,892.324.82     92.28265402%     575,979,236.80     96.21261970%        3.787380%          97.083715%
Class 1-A-2       536,424,324.82     82.79527654%     514,511,236.80     85.94489314%       10.267727%         263.197504%
Class 2A           73,327,324.82     11.31782407%      70,960,147.28     11.85331211%       74.091581%       1,899.224632%
Class 3A           23,354,324.82      3.60466089%      23,354,324.82      3.90114891%        7.952163%         203.841570%
Class X-1          23,354,324.82      3.60466089%      23,354,324.82      3.90114891%        0.000000%           0.000000%
Class B-1          14,285,324.82      2.20489147%      14,285,324.82      2.38624665%        1.514902%          38.832208%
Class B-2           8,780,324.82      1.35521338%       8,780,324.82      1.46668143%        0.919565%          23.571651%
Class B-3           4,894,324.82      0.75542245%       4,894,324.82      0.81755692%        0.649125%          16.639316%
Class B-4           3,276,324.82      0.50568963%       3,276,324.82      0.54728326%        0.270274%           6.928053%
Class B-5           2,306,324.82      0.35597342%       2,306,324.82      0.38525269%        0.162031%           4.153406%
Class B-6                   0.00      0.00000000%               0.00      0.00000000%        0.385253%           9.875365%
</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       126,045.00     0.01945462%       126,045.00    0.02105479%
         Fraud    19,436,773.00     3.00000004%    19,436,773.00    3.24675393%
Special Hazard    15,500,000.00     2.39237247%    15,500,000.00    2.58914820%
</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       319,884.98  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       319,884.98                  0             0.00                  0              0.00

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

0-29 Days      0.000000%    0.000000%  0-29 Days   0.000000%    0.000000%  0-29 Days   0.000000%     0.000000%
30 Days        0.571429%    0.362250%  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%
               ----------------------              ----------------------              -----------------------
               0.571429%    0.362250%              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       319,884.98
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       319,884.98


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

0-29 Days   0.000000%    0.000000%  0-29 Days   0.000000%    0.000000%
30 Days     0.000000%    0.000000%  30 Days     0.571429%    0.362250%
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%              0.571429%    0.362250%
</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            1       360,000.00  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
               ----------------------              ----------------------              -----------------------
                   1       360,000.00                  0             0.00                  0              0.00


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

0-29 Days      0.000000%    0.000000%  0-29 Days   0.000000%    0.000000%  0-29 Days   0.000000%     0.000000%
30 Days        0.081766%    0.078117%  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%
               ----------------------              ----------------------              -----------------------
               0.081766%    0.078117%              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       360,000.00
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                  1       360,000.00


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

0-29 Days   0.000000%    0.000000%  0-29 Days   0.000000%    0.000000%
30 Days     0.000000%    0.000000%  30 Days     0.081766%    0.078117%
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%              0.081766%    0.078117%
</TABLE>
<PAGE>
                                     Group 3

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


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

0-29 Days      0.000000%    0.000000%  0-29 Days   0.000000%    0.000000%  0-29 Days   0.000000%     0.000000%
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>
0-29 Days       0             0.00  0-29 Days       0             0.00
30 Days         0             0.00  30 Days         0             0.00
60 Days         0             0.00  60 Days         0             0.00
90 Days         0             0.00  90 Days         0             0.00
120 Days        0             0.00  120 Days        0             0.00
150 Days        0             0.00  150 Days        0             0.00
180+ Days       0             0.00  180+ Days       0             0.00
            ----------------------              ----------------------
                0             0.00                  0             0.00

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

0-29 Days   0.000000%    0.000000%  0-29 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%
90 Days     0.000000%    0.000000%  90 Days     0.000000%    0.000000%
120 Days    0.000000%    0.000000%  120 Days    0.000000%    0.000000%
150 Days    0.000000%    0.000000%  150 Days    0.000000%    0.000000%
180+ Days   0.000000%    0.000000%  180+ Days   0.000000%    0.000000%
            ----------------------              ----------------------
            0.000000%    0.000000%              0.000000%    0.000000%
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                 Mixed Arm
<S>                                                              <C>
Weighted Average Gross Coupon                                          3.839610%
Weighted Average Net Coupon                                            3.474169%
Weighted Average Pass-Through Rate                                     3.465169%
Weighted Average Maturity (Stepdown Calculation)                             326

Beginning Scheduled Collateral Loan Count                                  1,557
Number of Loans Paid in Full                                                  12
Ending Scheduled Collateral Loan Count                                     1,545

Beginning Scheduled Collateral Balance                            605,040,571.69
Ending Scheduled Collateral Balance                               598,652.483.02
Ending Actual Collateral Balance at 31-Dec-2002                   598,652,978.22

Monthly P&I Constant                                                1,936,810.89
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realization Loss Amount                                                     0.00
Cumulative Realized Loss                                                    0.00

Class A Optimal Amount                                              8,066,531.62

Ending Scheduled Balance for Premium Loans                        598,652,483.02

Scheduled Principal                                                       877.64
Unscheduled Principal                                               6,387,211.03
</TABLE>

                            MISCELLANEOUS REPORTING

<TABLE>
<S>                                                               <C>
One Month Libor Loan Balance                                      188,009,085.19
Six Month Libor Loan Balance                                      410,282,927.46
Pro Rata Senior Percent                                               96.140040%
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                 3                TOTAL
<S>                                     <C>              <C>                <C>               <C>
Collateral Description                      Mixed ARM         Mixed ARM         Mixed ARM          Mixed ARM
Weighted Average Coupon Rate                 5.594910          3.506920          3.767075           3.839610
Weighted Average Net Rate                    5.344910          3.120111          3.392075           3.474169
Pass-Through Rate                            5.335910          3.111111          3.383075           3.465169
Weighted Average Maturity                         350               317               354                326
Record Date                                12/31/2002        12/31/2002        12/31/2002         12/31/2002
Principal and Interest Constant            421,026.20      1,359,667.56        156,117.13       1,936,810.89
Beginning Loan Count                              178             1,231               148              1,557
Loans Paid in Full                                  3                 8                 1                 12
Ending Loan Count                                 175             1,223               147              1,545
Beginning Scheduled Balance             90,207,919.14    465,101,612.18     49,731,040.37     605,040,571.69
Ending Scheduled Balance                88,304,529.11    460,845,177.26     49,502,776.65     598,652,483.02
Scheduled Principal                            438.53            439.11              0.00             877.64
Unscheduled Principal                    1,902,951.50      4,255,995.81        228,263.72       6,387,211.03
Scheduled Interest                         420,587.67      1,359,228.45        156,117.13       1,935,933.25
Servicing Fee                               18,793.32        149,921.35         15,540.95         184,255.62
Master Servicing Fee                           676.56          3,488.26            372.98           4,537.80
Trustee Fee                                      0.00              0.00              0.00               0.00
FRY Amount                                       0.00              0.00              0.00               0.00
Special Hazard Fee                               0.00              0.00              0.00               0.00
Other Fee                                        0.00              0.00              0.00               0.00
Pool Insurance Fee                               0.00              0.00              0.00               0.00
Spread 1                                         0.00              0.00              0.00               0.00
Spread 2                                         0.00              0.00              0.00               0.00
Spread 3                                         0.00              0.00              0.00               0.00
Net Interest                               401,117.79      1,205,818.84        140,203.20       1,747,139.83
Realized Loss Amount                             0.00              0.00              0.00               0.00
Cumulative Realized Loss                         0.00              0.00              0.00               0.00
Percentage of Cumulative Losses                  0.00              0.00              0.00               0.00
Prepayment Penalties                             0.00              0.00              0.00               0.00
Special Servicing Fee                            0.00              0.00              0.00               0.00
</TABLE>