<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 2002-10
                          RECORD DATE: JANUARY 30, 2004
                      DISTRIBUTION DATE: FEBRUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate  Certificate
                      Class     Pass-Through       Beginning         Interest     Principal       Current       Ending Certificate
Class     CUSIP    Description      Rate      Certificate Balance  Distribution  Distribution  Realized Loss         Balance
----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>        <C>          <C>           <C>                  <C>           <C>           <C>              <C>
 1A     81743VAA1      SEN        1.50000%      712,200,967.98       890,251.21  6,633,281.75       0.00         705,567,686.23
 2A-1   81743VAB9      SEN        1.48000%      164,820,517.16       203,278.64  3,238,401.64       0.00         161,582,115.52
 2A-2   81743VAN3      SEN        1.78000%        3,500,000.00         5,191.67          0.00       0.00           3,500,000.00
 X-1A   81743VAC7      IO         1.13469%                0.00       316,614.64          0.00       0.00                   0.00
 X-1B   81743VAD5      IO         1.21425%                0.00       381,843.72          0.00       0.00                   0.00
 X-2    81743VAP8      IO         1.22941%                0.00       172,445.50          0.00       0.00                   0.00
 X-B    81743VAE3      IO         0.67403%                0.00        14,449.58          0.00       0.00                   0.00
 A-R    81743VAF0      SEN        3.37723%                0.00             0.00          0.00       0.00                   0.00
 B-1    81743VAG8      SUB        1.90000%       12,600,000.00        19,950.00          0.00       0.00          12,600,000.00
 B-2    81743VAH6      SUB        1.90000%        8,400,000.00        13,300.00          0.00       0.00           8,400,000.00
 B-3    81743VAJ2      SUB        2.50000%        4,725,000.00         9,843.75          0.00       0.00           4,725,000.00
 B-4    SMT0210B4      SUB        2.68424%        2,625,000.00         5,871.77          0.00       0.00           2,625,000.00
 B-5    SMT0210B5      SUB        2.68424%        2,100,000.00         4,697.41          0.00       0.00           2,100,000.00
 B-6    SMT0210B6      SUB        2.68424%        3,685,162.00         8,243.21          0.00       0.00           3,685,162.00
-------------------------------------------------------------------------------------------------------------------------------
Totals                                          914,656,647.14     2,045,981.10  9,871,683.39       0.00         904,784,963.75
-------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                        Total       Cumulative
Class     CUSIP     Distribution  Realized Loss
-----------------------------------------------
<S>     <C>        <C>            <C>
 1A     81743VAA1   7,523,532.96       0.00
 2A-1   81743VAB9   3,441,680.28       0.00
 2A-2   81743VAN3       5,191.67       0.00
 X-1A   81743VAC7     316,614.64       0.00
 X-1B   81743VAD5     381,843.72       0.00
 X-2    81743VAP8     172,445.50       0.00
 X-B    81743VAE3      14,449.58       0.00
 A-R    81743VAF0           0.00       0.00
 B-1    81743VAG8      19,950.00       0.00
 B-2    81743VAH6      13,300.00       0.00
 B-3    81743VAJ2       9,843.75       0.00
 B-4    SMT0210B4       5,871.77       0.00
 B-5    SMT0210B5       4,697.41       0.00
 B-6    SMT0210B6       8,243.21       0.00
-------------------------------------------
Totals             11,917,664.49       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  Ending Certificate
Class         Amount         Balance      Distribution  Distribution  Accretion  Loss (1)      Reduction          Balance
-------------------------------------------------------------------------------------------------------------------------------
<S>     <C>               <C>             <C>           <C>           <C>        <C>        <C>              <C>
 1A       822,375,000.00  712,200,967.98      0.00      6,633,281.75    0.00       0.00      6,633,281.75      705,567,686.23
 2A-1     190,000,000.00  164,820,517.16      0.00      3,238,401.64    0.00       0.00      3,238,401.64      161,582,115.52
 2A-2       3,500,000.00    3,500,000.00      0.00              0.00    0.00       0.00              0.00        3,500,000.00
 X-1A               0.00            0.00      0.00              0.00    0.00       0.00              0.00                0.00
 X-1B               0.00            0.00      0.00              0.00    0.00       0.00              0.00                0.00
 X-2                0.00            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                0.00
 A-R              100.00            0.00      0.00              0.00    0.00       0.00              0.00                0.00
 B-1       12,600,000.00   12,600,000.00      0.00              0.00    0.00       0.00              0.00       12,600,000.00
 B-2        8,400,000.00    8,400,000.00      0.00              0.00    0.00       0.00              0.00        8,400,000.00
 B-3        4,725,000.00    4,725,000.00      0.00              0.00    0.00       0.00              0.00        4,725,000.00
 B-4        2,625,000.00    2,625,000.00      0.00              0.00    0.00       0.00              0.00        2,625,000.00
 B-5        2,100,000.00    2,100,000.00      0.00              0.00    0.00       0.00              0.00        2,100,000.00
 B-6        3,685,162.00    3,685,162.00      0.00              0.00    0.00       0.00              0.00        3,685,162.00
        ---------------------------------------------------------------------------------------------------------------------
Totals  1,050,010,262.00  914,656,647.14      0.00      9,871,683.39    0.00       0.00      9,871,683.39      904,784,963.75
-----------------------------------------------------------------------------------------------------------------------------

<CAPTION>
        Ending Certificate       Total Principal
Class       Percentage            Distribution
------------------------------------------------
<S>     <C>                      <C>
 1A         0.85796344            6,633,281.75
 2A-1       0.85043219            3,238,401.64
 2A-2       1.00000000                    0.00
 X-1A       0.00000000                    0.00
 X-1B       0.00000000                    0.00
 X-2        0.00000000                    0.00
 X-B        0.00000000                    0.00
 A-R        0.00000000                    0.00
 B-1        1.00000000                    0.00
 B-2        1.00000000                    0.00
 B-3        1.00000000                    0.00
 B-4        1.00000000                    0.00
 B-5        1.00000000                    0.00
 B-6        1.00000000                    0.00
        --------------------------------------
Totals      0.86169154            9,871,683.39
----------------------------------------------
</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>
                                              Scheduled   Unscheduled                                               Ending
        Original Face       Beginning         Principal    Principal                 Realized   Total Principal   Certificate
Class      Amount      Certificate Balance  Distribution  Distribution   Accretion   Loss (3)      Reduction        Balance
------------------------------------------------------------------------------------------------------------------------------
<S>    <C>             <C>                  <C>           <C>           <C>         <C>         <C>              <C>
1A     822,375,000.00      866.02944883      0.00000000     8.06600608  0.00000000  0.00000000     8.06600608     857.96344275
2A-1   190,000,000.00      867.47640611      0.00000000    17.04421916  0.00000000  0.00000000    17.04421916     850.43218695
2A-2     3,500,000.00     1000.00000000      0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
X-1A             0.00        0.00000000      0.00000000     0.00000000  0.00000000  0.00000000     0.00000000       0.00000000
X-1B             0.00        0.00000000      0.00000000     0.00000000  0.00000000  0.00000000     0.00000000       0.00000000
X-2              0.00        0.00000000      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       0.00000000
A-R            100.00        0.00000000      0.00000000     0.00000000  0.00000000  0.00000000     0.00000000       0.00000000
B-1     12,600,000.00     1000.00000000      0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
B-2      8,400,000.00     1000.00000000      0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
B-3      4,725,000.00     1000.00000000      0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
B-4      2,625,000.00     1000.00000000      0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
B-5      2,100,000.00     1000.00000000      0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
B-6      3,685,162.00     1000.00000000      0.00000000     0.00000000  0.00000000  0.00000000     0.00000000    1000.00000000
------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
       Ending Certificate  Total Principal
Class      Percentage       Distribution
------------------------------------------
<S>    <C>                 <C>
1A         0.85796344         8.06600608
2A-1       0.85043219        17.04421916
2A-2       1.00000000         0.00000000
X-1A       0.00000000         0.00000000
X-1B       0.00000000         0.00000000
X-2        0.00000000         0.00000000
X-B        0.00000000         0.00000000
A-R        0.00000000         0.00000000
B-1        1.00000000         0.00000000
B-2        1.00000000         0.00000000
B-3        1.00000000         0.00000000
B-4        1.00000000         0.00000000
B-5        1.00000000         0.00000000
B-6        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-
                                             Certificate/     Current       Unpaid     Current   Supported
          Original Face       Current          Notional       Accrued      Interest   Interest    Interest  Realized  Total Interest
Class         Amount      Certificate Rate     Balance        Interest    Shortfall   Shortfall  Shortfall  Loss (4)   Distribution
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>               <C>               <C>             <C>           <C>         <C>        <C>        <C>       <C>
1A        822,375,000.00      1.50000%      712,200,967.98    890,251.21     0.00        0.00       0.00      0.00       890,251.21
2A-1      190,000,000.00      1.48000%      164,820,517.16    203,278.64     0.00        0.00       0.00      0.00       203,278.64
2A-2        3,500,000.00      1.78000%        3,500,000.00      5,191.67     0.00        0.00       0.00      0.00         5,191.67
X-1A                0.00      1.13469%      334,839,424.70    316,614.64     0.00        0.00       0.00      0.00       316,614.64
X-1B                0.00      1.21425%      377,361,543.28    381,843.72     0.00        0.00       0.00      0.00       381,843.72
X-2                 0.00      1.22941%      168,320,517.16    172,445.50     0.00        0.00       0.00      0.00       172,445.50
X-B                 0.00      0.67403%       25,725,000.00     14,449.58     0.00        0.00       0.00      0.00        14,449.58
A-R               100.00      3.37723%                0.00          0.00     0.00        0.00       0.00      0.00             0.00
B-1        12,600,000.00      1.90000%       12,600,000.00     19,950.00     0.00        0.00       0.00      0.00        19,950.00
B-2         8,400,000.00      1.90000%        8,400,000.00     13,300.00     0.00        0.00       0.00      0.00        13,300.00
B-3         4,725,000.00      2.50000%        4,725,000.00      9,843.75     0.00        0.00       0.00      0.00         9,843.75
B-4         2,625,000.00      2.68424%        2,625,000.00      5,871.77     0.00        0.00       0.00      0.00         5,871.77
B-5         2,100,000.00      2.68424%        2,100,000.00      4,697.41     0.00        0.00       0.00      0.00         4,697.41
B-6         3,685,162.00      2.68424%        3,685,162.00      8,243.21     0.00        0.00       0.00      0.00         8,243.21
-----------------------------------------------------------------------------------------------------------------------------------
Totals  1,050,010,262.00                                    2,045,981.10     0.00        0.00       0.00      0.00     2,045,981.10
-----------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
        Remaining
         Unpaid
        Interest    Ending Certificate/
Class   Shortfall    Notational Balance
---------------------------------------
<S>     <C>         <C>
1A         0.00        705,567,686.23
2A-1       0.00        161,582,115.52
2A-2       0.00          3,500,000.00
X-1A       0.00        331,640,667.97
X-1B       0.00        373,927,018.26
X-2        0.00        165,082,115.52
X-B        0.00         25,725,000.00
A-R        0.00                  0.00
B-1        0.00         12,600,000.00
B-2        0.00          8,400,000.00
B-3        0.00          4,725,000.00
B-4        0.00          2,625,000.00
B-5        0.00          2,100,000.00
B-6        0.00          3,685,162.00
-------------------------------------
Totals     0.00
-------------------------------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                     Beginning                 Payment of                 Non-
                         Current    Certificate/    Current      Unpaid     Current     Supported
Class  Original Face   Certificate    Notional      Accrued     Interest    Interest    Interest    Realized   Total Interest
 (5)      Amount           Rate        Balance      Interest   Shortfall   Shortfall    Shortfall   Loss (6)    Distribution
-----------------------------------------------------------------------------------------------------------------------------
<S>    <C>             <C>          <C>            <C>         <C>         <C>         <C>         <C>         <C>
1A     822,375,000.00    1.50000%    866.02944883  1.08253681  0.00000000  0.00000000  0.00000000  0.00000000    1.08253681
2A-1   190,000,000.00    1.48000%    867.47640611  1.06988758  0.00000000  0.00000000  0.00000000  0.00000000    1.06988758
2A-2     3,500,000.00    1.78000%   1000.00000000  1.48333429  0.00000000  0.00000000  0.00000000  0.00000000    1.48333429
X-1A             0.00    1.13469%    852.09587520  0.80571763  0.00000000  0.00000000  0.00000000  0.00000000    0.80571763
X-1B             0.00    1.21425%    878.78012534  0.88921799  0.00000000  0.00000000  0.00000000  0.00000000    0.88921799
X-2              0.00    1.22941%    869.87347370  0.89119121  0.00000000  0.00000000  0.00000000  0.00000000    0.89119121
X-B              0.00    0.67403%   1000.00000000  0.56169407  0.00000000  0.00000000  0.00000000  0.00000000    0.56169407
A-R            100.00    3.37723%      0.00000000  0.00000000  0.00000000  0.00000000  0.00000000  0.00000000    0.00000000
B-1     12,600,000.00    1.90000%   1000.00000000  1.58333333  0.00000000  0.00000000  0.00000000  0.00000000    1.58333333
B-2      8,400,000.00    1.90000%   1000.00000000  1.58333333  0.00000000  0.00000000  0.00000000  0.00000000    1.58333333
B-3      4,725,000.00    2.50000%   1000.00000000  2.08333333  0.00000000  0.00000000  0.00000000  0.00000000    2.08333333
B-4      2,625,000.00    2.68424%   1000.00000000  2.23686476  0.00000000  0.00000000  0.00000000  0.00000000    2.23686476
B-5      2,100,000.00    2.68424%   1000.00000000  2.23686190  0.00000000  0.00000000  0.00000000  0.00000000    2.23686190
B-6      3,685,162.00    2.68424%   1000.00000000  2.23686503  0.00000000  0.00000000  0.00000000  0.00000000    2.23686503
-----------------------------------------------------------------------------------------------------------------------------

<CAPTION>
        Remaining
         Unpaid
Class   Interest       Ending Certificate/
 (5)    Shortfall       Notational Balance
------------------------------------------
<S>    <C>             <C>
1A     0.00000000          857.96344275
2A-1   0.00000000          850.43218695
2A-2   0.00000000         1000.00000000
X-1A   0.00000000          843.95571244
X-1B   0.00000000          870.78198038
X-2    0.00000000          853.13754791
X-B    0.00000000         1000.00000000
A-R    0.00000000            0.00000000
B-1    0.00000000         1000.00000000
B-2    0.00000000         1000.00000000
B-3    0.00000000         1000.00000000
B-4    0.00000000         1000.00000000
B-5    0.00000000         1000.00000000
B-6    0.00000000         1000.00000000
---------------------------------------
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>

<S>                                                                    <C>
Beginning Balance                                                               0.00

Deposits
           Payments of Interest and Principal                          12,108,217.95
           Liquidations, Insurance Proceeds, Reserve Funds                      0.00
           Proceeds from Repurchased Loans                                      0.00
           Other Amounts (Servicer Advances)                                1,022.65
           Realized Losses                                                      0.00
           Prepayment Penalties                                                 0.00
                                                                       -------------
Total Deposits                                                         12,109,240.60

Withdrawals
           Reimbursement for Servicer Advances                              1,022.65
           Payment of Service Fee                                         190,553.46
           Payment of Interest and Principal                           11,917,664.49
                                                                       -------------
Total Withdrawals (Pool Distribution Amount)                           12,109,240.60

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

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

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

                                 SERVICING FEES

<TABLE>
<S>                                                                       <C>
Gross Servicing Fee                                                       190,553.46
Supported Prepayment/Curtailment Interest Shortfall                             0.00
                                                                          ----------

Net Servicing Fee                                                         190,553.46
                                                                          ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                 Beginning            Current             Current          Ending
           Account Type                           Balance           Withdrawals           Deposits         Balance
------------------------------------------------------------------------------------------------------------------
<S>                                              <C>                <C>                   <C>             <C>
Class X-A Basis Risk Reserve Fund                8,000.00               0.00                0.00          8,000.00
Class X-B Basis Risk Reserve Fund                2,000.00               0.00                0.00          2,000.00
------------------------------------------------------------------------------------------------------------------
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
                  DELINQUENT                                   BANKRUPTCY                               FORECLOSURE
----------------------------------------------------------------------------------------------------------------------------------
                   No. of        Principal                     No. of        Principal                    No. of        Principal
                   Loans          Balance                       Loans         Balance                     Loans          Balance
<S>              <C>             <C>            <C>           <C>            <C>          <C>           <C>             <C>
0-29 Days            0             0.00         0-29 Days         0            0.00       0-29 Days         0                 0.00
30 Days              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           2           490,871.08
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                         2           490,871.08

                   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       0.082372%       0.054253%
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%                  0.082372%       0.054253%
----------------------------------------------------------------------------------------------------------------------------------

<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           2           490,871.08
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           490,871.08

                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       0.082372%        0.054253%
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%                  0.082372%        0.054253%
---------------------------------------------------------------------------------
</TABLE>

<TABLE>
<S>                                         <C>   <C>                                           <C>   <C>               <C>
Current Period Class A Insufficient Funds:  0.00  Principal Balance of Contaminated Properties  0.00  Periodic Advance  1,022.65
</TABLE>

<PAGE>

Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage

<TABLE>
<CAPTION>
                Original $      Original %     Current $       Current %    Current Class %    Prepayment %
             ----------------  ------------  --------------  -------------  ---------------   -------------
<S>          <C>               <C>           <C>             <C>            <C>               <C>
  Class A    1,050,010,162.00  99.99999048%  904,784,963.75  100.00000000%    96.227262%          0.000000%
 Class 1A      227,635,162.00  21.67932736%  199,217,277.52   22.01819056%    77.981809%      2,066.982094%
Class 2-A-1     37,635,162.00   3.58426611%   37,635,162.00    4.15956979%    17.858621%        473.359744%
Class 2-A-2     34,135,162.00   3.25093604%   34,135,162.00    3.77273754%     0.386832%         10.253357%
Class X-1-A     34,135,162.00   3.25093604%   34,135,162.00    3.77273754%     0.000000%          0.000000%
Class X-1-B     34,135,162.00   3.25093604%   34,135,162.00    3.77273754%     0.000000%          0.000000%
 Class X-2      34,135,162.00   3.25093604%   34,135,162.00    3.77273754%     0.000000%          0.000000%
 Class B-1      21,535,162.00   2.05094776%   21,535,162.00    2.38014145%     1.392596%         36.912085%
 Class B-2      13,135,162.00   1.25095558%   13,135,162.00    1.45174406%     0.928397%         24.608057%
 Class B-3       8,410,162.00   0.80095998%    8,410,162.00    0.92952053%     0.522224%         13.842032%
 Class B-4       5,785,162.00   0.55096242%    5,785,162.00    0.63939635%     0.290124%          7.690018%
 Class B-5       3,685,162.00   0.35096438%    3,685,162.00    0.40729700%     0.232099%          6.152014%
 Class B-6               0.00   0.00000000%            0.00    0.00000000%     0.407297%         10.795795%
</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                  163,046.00  0.01552804%     163,046.00  0.01802041%
Fraud                    31,500,308.00  3.00000001%  18,795,490.62  2.07734339%
Special Hazard           11,240,000.00  1.07046573%  10,576,039.24  1.16890086%
</TABLE>

Limit of subordinate's exposure to certain types of losses
<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                    GROUP 1

<TABLE>
<CAPTION>
                     DELINQUENT                                      BANKRUPTCY
-----------------------------------------------------  -------------------------------------
                        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%

<CAPTION>
                  FORECLOSURE                                    REO                                         TOTAL
-----------------------------------------  -----------------------------------------------  ----------------------------------------
                   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               1         202,471.80   90 Days              0               0.00        90 Days         1          202,471.80
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         202,471.80                        0               0.00                        1          202,471.80

                   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           0.052083%      0.027615%   90 Days          0.000000%         0.000000%     90 Days     0.052083%      0.027615%
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%
                     --------------------                -------------------------------                  -----------------------
                  0.052083%      0.027615%                    0.000000%         0.000000%                 0.052083%      0.027615%
</TABLE>

                                    GROUP 2

<TABLE>
<CAPTION>

                     DELINQUENT                                       BANKRUPTCY
-----------------------------------------------------  -------------------------------------
                      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%

<CAPTION>
                  FORECLOSURE                                   REO                                         TOTAL
------------------------------------------   --------------------------------------------     -------------------------------------
                   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               1         288,399.28   90 Days              0               0.00        90 Days          1         288,399.28
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         288,399.28                        0               0.00                         1         288,399.28

                   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           0.196850%      0.168079%   90 Days          0.000000%         0.000000%     90 Days      0.196850%     0.168079%
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%
                  -----------------------                    ---------------------------                   ----------------------
                  0.196850%      0.168079%                    0.000000%         0.000000%                  0.196850%     0.168079%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                               Mixed ARM
<S>                                                                               <C>
Weighted Average Gross Coupon                                                          2.934261%
Weighted Average Net Coupon                                                            2.684261%
Weighted Average Pass-Through Rate                                                     2.684261%
Weighted Average Maturity (Stepdown Calculation)                                             282

Beginning Scheduled Collateral Loan Count                                                  2,445
Number of Loans Paid in Full                                                                  17
Ending Scheduled Collateral Loan Count                                                     2,428

Beginning Scheduled Collateral Balance                                            914,656,647.14
Ending Scheduled Collateral Balance                                               904,784,963.75
Ending Actual Collateral Balance at 30-Jan-2004                                   904,784,965.78

Monthly P&I Constant                                                                2,236,534.56
Special Servicing Fee                                                                       0.00
Prepayment Penalties                                                                        0.00
Realization Loss Amount                                                                     0.00
Cumulative Realized Loss                                                                    0.00

Class A Optimal Amount                                                             11,841,308.76

Ending Scheduled Balance for Premium Loans                                        904,784,963.75

Scheduled Principal                                                                         0.00
Unscheduled Principal                                                               9,871,683.39
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
       GROUP                                                     1                       2                    TOTAL
<S>                                                      <C>                      <C>                     <C>
Collateral Description                                        Mixed ARM              6 Month ARM               Mixed ARM
Weighted Average Coupon Rate                                   2.926845                 2.965646                2.934261
Weighted Average Net Rate                                      2.676845                 2.715646                2.684261
Pass-Through Rate                                              2.676845                 2.715646                2.684261
Weighted Average Maturity                                           282                      282                     282
Record Date                                                  01/30/2004               01/30/2004              01/30/2004
Principal and Interest Constant                            1,804,480.24               432,054.32            2,236,534.56
Beginning Loan Count                                              1,933                      512                   2,445
Loans Paid in Full                                                   13                        4                      17
Ending Loan Count                                                 1,920                      508                   2,428
Beginning Scheduled Balance                              739,832,964.98           174,823,682.16          914,656,647.14
Ending Scheduled Balance                                 733,199,683.23           171,585,280.52          904,784,963.75
Scheduled Principal                                                0.00                     0.00                    0.00
Unscheduled Principal                                      6,633,281.75             3,238,401.64            9,871,683.39
Scheduled Interest                                         1,804,480.24               432,054.32            2,236,534.56
Servicing Fee                                                154,131.86                36,421.60              190,553.46
Master Servicing Fee                                               0.00                     0.00                    0.00
Trustee Fee                                                        0.00                     0.00                    0.00
FRY Amount                                                         0.00                     0.00                    0.00
Special Hazard Fee                                                 0.00                     0.00                    0.00
Other Fee                                                          0.00                     0.00                    0.00
Pool Insurance Fee                                                 0.00                     0.00                    0.00
Spread 1                                                           0.00                     0.00                    0.00
Spread 2                                                           0.00                     0.00                    0.00
Spread 3                                                           0.00                     0.00                    0.00
Net Interest                                               1,650,348.38                395,632.72           2,045,981.10
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>

<PAGE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                  <C>
Group 1
One Month LIBOR Loans                                344,628,640.81
Six Month LIBOR Loans                                388,571,042.42
Pro Rata Senior Percentage                               96.265103%
Senior Percentage                                       100.000000%
Senior Prepayment Percentage                            100.000000%
Subordinate Percentage                                    0.000000%
Subordinate Prepayment Percentage                         0.000000%

Group 2
Pro Rata Senior Percentage                               96.280158%
Senior Percentage                                       100.000000%
Senior Prepayment Percentage                            100.000000%
Subordinate Percentage                                    0.000000%
Subordinate Prepayment Percentage                         0.000000%
</TABLE>