<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 2003-6
                          RECORD DATE: JANUARY 30, 2004
                      DISTRIBUTION DATE: FEBRUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                       Certificate                         Beginning
                          Class      Certificate Pass-    Certificate        Interest        Principal
   Class     CUSIP     Description      Through Rate        Balance        Distribution     Distribution
--------------------------------------------------------------------------------------------------------
<S>        <C>         <C>           <C>                 <C>               <C>              <C>
    A-1    81743PCX2       SEN            1.41000%       442,787,398.59      520,275.19     3,186,115.44
    X-1    81743PCZ7        IO            0.80000%                 0.00      380,616.08             0.00
    A-2    81743PCY0       SEN            1.55125%       176,037,864.88      227,565.62     1,073,707.52
    X-2    81743PDA1        IO            0.44857%                 0.00      231,320.25             0.00
    B-1    81743PDD5       SUB            1.68000%        11,287,000.00       15,801.80             0.00
    X-B    81743PDB9        IO            0.95678%                 0.00        8,999.29             0.00
    B-2    81743PDE3       SUB            2.63678%         5,643,000.00       12,399.44             0.00
    B-3    81743PDF0       SUB            2.63678%         3,320,000.00        7,295.08             0.00
    B-4    81743PDG8       SUB            2.63678%         1,660,000.00        3,647.54             0.00
    B-5    81743PDH6       SUB            2.63678%           996,000.00        2,188.52             0.00
    B-6    81743PDJ2       SUB            2.63678%         2,323,950.00        5,106.45             0.00
    A-R    81743PDC7       RES            2.62135%                 0.00            0.00             0.00
--------------------------------------------------------------------------------------------------------
Totals                                                   644,055,213.47    1,415,215.26     4,259,822.96
--------------------------------------------------------------------------------------------------------

<CAPTION>
                          Current      Ending Certificate      Total         Cumulative
   Class     CUSIP     Realized Loss         Balance        Distribution    Realized Loss
-----------------------------------------------------------------------------------------
<S>        <C>         <C>             <C>                  <C>             <C>
    A-1    81743PCX2        0.00         439,601,283.15     3,706,390.63         0.00
    X-1    81743PCZ7        0.00                   0.00       380,616.08         0.00
    A-2    81743PCY0        0.00         174,964,157.36     1,301,273.14         0.00
    X-2    81743PDA1        0.00                   0.00       231,320.25         0.00
    B-1    81743PDD5        0.00          11,287,000.00        15,801.80         0.00
    X-B    81743PDB9        0.00                   0.00         8,999.29         0.00
    B-2    81743PDE3        0.00           5,643,000.00        12,399.44         0.00
    B-3    81743PDF0        0.00           3,320,000.00         7,295.08         0.00
    B-4    81743PDG8        0.00           1,660,000.00         3,647.54         0.00
    B-5    81743PDH6        0.00             996,000.00         2,188.52         0.00
    B-6    81743PDJ2        0.00           2,323,950.00         5,106.45         0.00
    A-R    81743PDC7        0.00                   0.00             0.00         0.00
-----------------------------------------------------------------------------------------
Totals                      0.00         639,795,390.51     5,675,038.22         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
   Class           Amount             Balance         Distribution   Distribution     Accretion
-----------------------------------------------------------------------------------------------
<S>            <C>                <C>                 <C>            <C>              <C>
    A-1        458,238,000.00     442,787,398.59         640.98      3,185,474.46        0.00
    X-1                  0.00               0.00           0.00              0.00        0.00
    A-2        180,474,000.00     176,037,864.88         400.64      1,073,306.88        0.00
    X-2                  0.00               0.00           0.00              0.00        0.00
    B-1         11,287,000.00      11,287,000.00           0.00              0.00        0.00
    B-2          5,643,000.00       5,643,000.00           0.00              0.00        0.00
    B-3          3,320,000.00       3,320,000.00           0.00              0.00        0.00
    B-4          1,660,000.00       1,660,000.00           0.00              0.00        0.00
    B-5            996,000.00         996,000.00           0.00              0.00        0.00
    B-6          2,323,950.00       2,323,950.00           0.00              0.00        0.00
    A-R                100.00               0.00           0.00              0.00        0.00
-----------------------------------------------------------------------------------------------
Totals         663,942,050.00     644,055,213.47       1,041.62      4,258,781.34        0.00
-----------------------------------------------------------------------------------------------

<CAPTION>
               Realized   Total Principal   Ending Certificate    Ending Certificate    Total Principal
   Class       Loss (1)      Reduction           Balance              Percentage         Distribution
-------------------------------------------------------------------------------------------------------
<S>            <C>        <C>               <C>                   <C>                   <C>
    A-1          0.00       3,186,115.44      439,601,283.15          0.95932961         3,186,115.44
    X-1          0.00               0.00                0.00          0.00000000                 0.00
    A-2          0.00       1,073,707.52      174,964,157.36          0.96947016         1,073,707.52
    X-2          0.00               0.00                0.00          0.00000000                 0.00
    B-1          0.00               0.00       11,287,000.00          1.00000000                 0.00
    B-2          0.00               0.00        5,643,000.00          1.00000000                 0.00
    B-3          0.00               0.00        3,320,000.00          1.00000000                 0.00
    B-4          0.00               0.00        1,660,000.00          1.00000000                 0.00
    B-5          0.00               0.00          996,000.00          1.00000000                 0.00
    B-6          0.00               0.00        2,323,950.00          1.00000000                 0.00
    A-R          0.00               0.00                0.00          0.00000000                 0.00
-------------------------------------------------------------------------------------------------------
Totals           0.00       4,259,822.96      639,795,390.51          0.96363137         4,259,822.96
-------------------------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                Beginning       Scheduled       Unscheduled
           Original Face       Certificate      Principal        Principal
Class          Amount            Balance      Distribution     Distribution    Accretion
----------------------------------------------------------------------------------------
<S>        <C>                <C>             <C>              <C>            <C>
 A-1       458,238,000.00      966.28258370    0.00139879       6.95157202    0.00000000
 X-1                 0.00        0.00000000    0.00000000       0.00000000    0.00000000
 A-2       180,474,000.00      975.41953345    0.00221993       5.94715516    0.00000000
 X-2                 0.00        0.00000000    0.00000000       0.00000000    0.00000000
 B-1        11,287,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 X-B                 0.00        0.00000000    0.00000000       0.00000000    0.00000000
 B-2         5,643,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-3         3,320,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-4         1,660,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-5           996,000.00     1000.00000000    0.00000000       0.00000000    0.00000000
 B-6         2,323,950.00     1000.00000000    0.00000000       0.00000000    0.00000000
 A-R               100.00        0.00000000    0.00000000       0.00000000    0.00000000
----------------------------------------------------------------------------------------

<CAPTION>
           Realized     Total Principal   Ending Certificate   Ending Certificate   Total Principal
Class      Loss (3)        Reduction           Balance             Percentage        Distribution
---------------------------------------------------------------------------------------------------
<S>       <C>           <C>               <C>                  <C>                  <C>
 A-1      0.00000000       6.95297081        959.32961289          0.95932961         6.95297081
 X-1      0.00000000       0.00000000          0.00000000          0.00000000         0.00000000
 A-2      0.00000000       5.94937509        969.47015836          0.96947016         5.94937509
 X-2      0.00000000       0.00000000          0.00000000          0.00000000         0.00000000
 B-1      0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 X-B      0.00000000       0.00000000          0.00000000          0.00000000         0.00000000
 B-2      0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 B-3      0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 B-4      0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 B-5      0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 B-6      0.00000000       0.00000000       1000.00000000          1.00000000         0.00000000
 A-R      0.00000000       0.00000000          0.00000000          0.00000000         0.00000000
---------------------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                      Beginning                          Payment of
                                                     Certificate/        Current           Unpaid       Current
              Original Face         Current            Notional          Accrued          Interest      Interest
 Class           Amount         Certificate Rate       Balance           Interest        Shortfall     Shortfall
----------------------------------------------------------------------------------------------------------------
<S>          <C>                <C>                 <C>               <C>                <C>           <C>
  A-1        458,238,000.00         1.41000%        442,787,398.59      520,275.19          0.00          0.00
  X-1                  0.00         0.80000%        570,924,121.28      380,616.08          0.00          0.00
  A-2        180,474,000.00         1.55125%        176,037,864.88      227,565.61          0.00          0.00
  X-2                  0.00         0.44857%        618,825,263.47      231,320.25          0.00          0.00
  B-1         11,287,000.00         1.68000%         11,287,000.00       15,801.80          0.00          0.00
  X-B                  0.00         0.95678%         11,287,000.00        8,999.29          0.00          0.00
  B-2          5,643,000.00         2.63678%          5,643,000.00       12,399.44          0.00          0.00
  B-3          3,320,000.00         2.63678%          3,320,000.00        7,295.08          0.00          0.00
  B-4          1,660,000.00         2.63678%          1,660,000.00        3,647.54          0.00          0.00
  B-5            996,000.00         2.63678%            996,000.00        2,188.52          0.00          0.00
  B-6          2,323,950.00         2.63678%          2,323,950.00        5,106.45          0.00          0.00
  A-R                100.00         2.62135%                  0.00            0.00          0.00          0.00
----------------------------------------------------------------------------------------------------------------
Totals       663,942,050.00                                           1,415,215.25          0.00          0.00
----------------------------------------------------------------------------------------------------------------

<CAPTION>
               Non-                                     Remaining         Ending
            Supported                                     Unpaid       Certificate/
            Interest      Realized   Total Interest      Interest       Notational
 Class      Shortfall     Loss (4)    Distribution       Shortfall       Balance
-----------------------------------------------------------------------------------
<S>         <C>           <C>        <C>                <C>          <C>
  A-1          0.00         0.00        520,275.19          0.00     439,601,283.15
  X-1          0.00         0.00        380,616.08          0.00     549,902,617.37
  A-2          0.00         0.00        227,565.62          0.00     174,964,157.36
  X-2          0.00         0.00        231,320.25          0.00     614,565,440.51
  B-1          0.00         0.00         15,801.80          0.00      11,287,000.00
  X-B          0.00         0.00          8,999.29          0.00      11,287,000.00
  B-2          0.00         0.00         12,399.44          0.00       5,643,000.00
  B-3          0.00         0.00          7,295.08          0.00       3,320,000.00
  B-4          0.00         0.00          3,647.54          0.00       1,660,000.00
  B-5          0.00         0.00          2,188.52          0.00         996,000.00
  B-6          0.00         0.00          5,106.45          0.00       2,323,950.00
  A-R          0.00         0.00              0.00          0.00               0.00
-----------------------------------------------------------------------------------
Totals         0.00         0.00      1,415,215.26          0.00
-----------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                                   Payment of
                                  Current       Beginning                           Unpaid        Current
               Original Face   Certificate     Certificate/     Current Accrued     Interest     Interest
Class (5)         Amount           Rate      Notional Balance       Interest       Shortfall     Shortfall
----------------------------------------------------------------------------------------------------------
<S>           <C>              <C>           <C>                <C>                <C>          <C>
   A-1        458,238,000.00     1.41000%      966.28258370        1.13538203      0.00000000   0.00000000
   X-1                  0.00     0.80000%      893.86784855        0.59591190      0.00000000   0.00000000
   A-2        180,474,000.00     1.55125%      975.41953345        1.26093293      0.00000000   0.00000000
   X-2                  0.00     0.44857%      968.86431360        0.36216675      0.00000000   0.00000000
   B-1         11,287,000.00     1.68000%     1000.00000000        1.40000000      0.00000000   0.00000000
   X-B                  0.00     0.95678%     1000.00000000        0.79731461      0.00000000   0.00000000
   B-2          5,643,000.00     2.63678%     1000.00000000        2.19731349      0.00000000   0.00000000
   B-3          3,320,000.00     2.63678%     1000.00000000        2.19731325      0.00000000   0.00000000
   B-4          1,660,000.00     2.63678%     1000.00000000        2.19731325      0.00000000   0.00000000
   B-5            996,000.00     2.63678%     1000.00000000        2.19730924      0.00000000   0.00000000
   B-6          2,323,950.00     2.63678%     1000.00000000        2.19731492      0.00000000   0.00000000
   A-R                100.00     2.62135%        0.00000000        0.00000000      0.00000000   0.00000000
----------------------------------------------------------------------------------------------------------

<CAPTION>
                Non-                                        Remaining
             Supported                                       Unpaid
              Interest       Realized      Total Interest    Interest       Ending Certificate/
Class (5)    Shortfall       Loss (6)       Distribution    Shortfall       Notational Balance
-----------------------------------------------------------------------------------------------
<S>          <C>            <C>            <C>              <C>             <C>
   A-1       0.00000000     0.00000000       1.13538203     0.00000000         959.32961289
   X-1       0.00000000     0.00000000       0.59591190     0.00000000         860.95551261
   A-2       0.00000000     0.00000000       1.26093299     0.00000000         969.47015836
   X-2       0.00000000     0.00000000       0.36216675     0.00000000         962.19491807
   B-1       0.00000000     0.00000000       1.40000000     0.00000000        1000.00000000
   X-B       0.00000000     0.00000000       0.79731461     0.00000000        1000.00000000
   B-2       0.00000000     0.00000000       2.19731349     0.00000000        1000.00000000
   B-3       0.00000000     0.00000000       2.19731325     0.00000000        1000.00000000
   B-4       0.00000000     0.00000000       2.19731325     0.00000000        1000.00000000
   B-5       0.00000000     0.00000000       2.19730924     0.00000000        1000.00000000
   B-6       0.00000000     0.00000000       2.19731492     0.00000000        1000.00000000
   A-R       0.00000000     0.00000000       0.00000000     0.00000000           0.00000000
-----------------------------------------------------------------------------------------------
</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                                        5,851,714.49
         Liquidations, Insurance Proceeds, Reserve Funds                                   0.00
         Proceeds from Repurchased Loans                                                   0.00
         Other Amounts (Servicer Advances)                                            17,938.73
         Realized Losses (Gains, Subsequent Expenses & Recoveries)                         0.00
         Prepayment Penalties                                                              0.00
                                                                                   ------------
Total Deposits                                                                     5,869,653.22

Withdrawals
         Reimbursement for Servicer Advances                                               0.00
         Payment of Service Fee                                                      194,615.00
         Payment of Interest and Principal                                         5,675,038.22
                                                                                   ------------
Total Withdrawals (Pool Distribution Amount)                                       5,869,653.22

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                                                    189,247.87
Master Servicing Fee                                                     5,367.13
Supported Prepayment/Curtailment Interest Shortfall                          0.00
                                                                       ----------

Net Servicing Fee                                                      194,615.00
                                                                       ==========
</TABLE>

<PAGE>

                              OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                              Beginning          Current          Current       Ending
         Account Type                          Balance         Withdrawals       Deposits       Balance
-------------------------------------------------------------------------------------------------------
<S>                                           <C>              <C>               <C>           <C>
Class A-1 Companion Sub Account               4,000.00            0.00             0.00        4,000.00
Class A-1 NAS Sub Account                     1,000.00            0.00             0.00        1,000.00
Class A-2 Companion Sub Account                 500.00            0.00             0.00          500.00
Class A-2 NAS Sub Account                     2,000.00            0.00             0.00        2,000.00
Class B-1 Sub Account                         2,500.00            0.00             0.00        2,500.00
</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            14      7,184,767.58   30 Days          0           0.00    30 Days          0           0.00
60 Days             2        360,984.00   60 Days          0           0.00    60 Days          0           0.00
90 Days             1         87,500.00   90 Days          0           0.00    90 Days          0           0.00
120 Days            1        100,000.00   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           1        165,294.32   180+ Days        0           0.00    180+ Days        0           0.00
               ------------------------                --------------------                 --------------------
                   19      7,898,545.90                    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        0.755532%    1.122978%     30 Days      0.000000%   0.000000%   30 Days      0.000000%   0.000000%
60 Days        0.107933%    0.056422%     60 Days      0.000000%   0.000000%   60 Days      0.000000%   0.000000%
90 Days        0.053967%    0.013676%     90 Days      0.000000%   0.000000%   90 Days      0.000000%   0.000000%
120 Days       0.053967%    0.015630%     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      0.053967%    0.025835%     180+ Days    0.000000%   0.000000%   180+ Days    0.000000%   0.000000%
               ------------------------                --------------------                 --------------------
               1.025364%    1.234541%                  0.000000%   0.000000%                0.000000%   0.000000%

<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         14      7,184,767.58
60 Days             0           0.00    60 Days         2         360,984.00
90 Days             0           0.00    90 Days         1          87,500.00
120 Days            0           0.00    120 Days        1         100,000.00
150 Days            0           0.00    150 Days        0.              0.00
180+ Days           0           0.00    180+ Days       1         165,294.32
                --------------------                ------------------------
                    0           0.00                    19      7,898,545.90

                  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     0.755532%    1.122978%
60 Days         0.000000%   0.000000%   60 Days     0.107933%    0.056422%
90 Days         0.000000%   0.000000%   90 Days     0.053967%    0.013676%
120 Days        0.000000%   0.000000%   120 Days    0.053967%    0.015630%
150 Days        0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days       0.000000%   0.000000%   180+ Days   0.053967%    0.025835%
                --------------------                ---------------------
                0.000000%   0.000000%               1.025364%    1.234541%
</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   17,938.73
</TABLE>

<PAGE>

           SUBORDINATION 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        25,229,950.00     3.80002806%   25,229,950.00     3.94344041%        96.056560%               0.000000%
Class X-1      25,229,950.00     3.80002806%   25,229,950.00     3.94344041%         0.000000%               0.000000%
Class X-2      25,229,950.00     3.80002806%   25,229,950.00     3.94344041%         0.000000%               0.000000%
Class B-1      13,942,950.00     2.10002799%   13,942,950.00     2.17928266%         1.764158%              44.736514%
Class B-2       8,299,950.00     1.25010327%    8,299,950.00     1.29728193%         0.882001%              22.366275%
Class B-3       4,979,950.00     0.75005895%    4,979,950.00     0.77836603%         0.518916%              13.158964%
Class B-4       3,319,950.00     0.50003679%    3,319,950.00     0.51890808%         0.259458%               6.579482%
Class B-5       2,323,950.00     0.35002349%    2,323,950.00     0.36323331%         0.155675%               3.947689%
Class B-6               0.00     0.00000000%            0.00     0.00000000%         0.363233%               9.211077%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
--------------------------------------------------------------------------------------------------------------
POOL 1 - 1 MONTH
                 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      504,336.66     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      504,336.66                     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        0.564972%    0.722686%    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%
               ---------------------                 --------------------                --------------------
               0.564972%    0.722686%                0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                REO                                 TOTAL
----------------------------------------------------------------------
               No. of    Principal                 No. of   Principal
               Loans      Balance                  Loans     Balance
<C>          <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      504,336.66
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      504,336.66

               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     0.564972%    0.722686%
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%               0.564972%    0.722686%
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
                  DELINQUENT                             BANKRUPTCY                         FORECLOSURE
----------------------------------------------------------------------------------------------------------------------
POOL 1 - 6 MONTH
                 No. of      Principal                    No. of        Principal                No. of     Principal
                 Loans        Balance                     Loans          Balance                 Loans       Balance
<S>            <C>         <C>              <C>         <C>             <C>        <C>         <C>         <C>
0-29 Days          0               0.00     0-29 Days       0             0.00     0-29 Days       0          0.00
30 Days            8       4,830,656.53     30 Days         0             0.00     30 Days         0          0.00
60 Days            2         360,984.00     60 Days         0             0.00     60 Days         0          0.00
90 Days            1          87,500.00     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
                 ----------------------                    -------------------                    ----------------
                   11      5,279,140.53                     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        0.696864%    1.245283%       30 Days     0.000000%       0.000000%  30 Days     0.000000%   0.000000%
60 Days        0.174216%    0.093057%       60 Days     0.000000%       0.000000%  60 Days     0.000000%   0.000000%
90 Days        0.087108%    0.022556%       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%
               ---------------------                    ------------------------               --------------------
               0.958188%    1.360897%                   0.000000%       0.000000%              0.000000%   0.000000%

<CAPTION>
               REO                                  TOTAL
------------------------------------------------------------------------
               No. of     Principal                 No. of     Principal
                Loans      Balance                  Loans       Balance
<S>          <C>         <C>         <C>         <C>         <C>
0-29 Days        0          0.00     0-29 Days       0               0.00
30 Days          0          0.00     30 Days         8       4,830,656.53
60 Days          0          0.00     60 Days         2         360,984.00
90 Days          0          0.00     90 Days         1          87,500.00
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                     11      5,279,140.53

               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     0.696864%       1.245283%
60 Days      0.000000%   0.000000%   60 Days     0.174216%       0.093057%
90 Days      0.000000%   0.000000%   90 Days     0.087108%       0.022556%
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%               0.958188%       1.360897%
</TABLE>

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
--------------------------------------------------------------------------------------------------------------
POOL 2
                 No. of      Principal                 No. of    Principal                 No. of    Principal
                 Loans        Balance                  Loans      Balance                  Loans      Balance
<S>            <C>         <C>           <C>         <C>         <C>         <C>         <C>         <C>
0-29 Days          0               0.00  0-29 Days       0             0.00  0-29 Days       0           0.00
30 Days            5       1,849,774.39  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           1         100,000.00  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          1         165,294.32  180+ Days       0             0.00  180+ Days       0           0.00
                 ----------------------                  ------------------                 -----------------
                   7       2,115,068.71                  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        0.946970%    1.015838%    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       0.189394%    0.054917%    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      0.189394%    0.090774%    180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
               ---------------------                 --------------------                --------------------
               1.325758%    1.161529%                0.000000%   0.000000%               0.000000%   0.000000%

<CAPTION>
                 REO                                 TOTAL
--------------------------------------------------------------------------
                No. of    Principal                 No. of     Principal
                Loans      Balance                  Loans       Balance
<S>           <C>         <C>         <C>         <C>         <C>
0-29 Days         0             0.00  0-29 Days       0               0.00
30 Days           0             0.00  30 Days         5       1,849,774.39
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        1         100,000.00
150 Days          0             0.00  150 Days        0               0.00
180+ Days         0             0.00  180+ Days       1         165,294.32
                 -------------------                ----------------------
                  0             0.00                  7       2,115,068.71

                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     0.946970%    1.015838%
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    0.189394%    0.054917%
150 Days      0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days     0.000000%   0.000000%   180+ Days   0.189394%    0.090774%
              --------------------                ---------------------
              0.000000%   0.000000%               1.325758%    1.161529%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                                   Mixed Arm
<S>                                                                                 <C>
Weighted Average Gross Coupon                                                             2.999427%
Weighted Average Net Coupon                                                               2.646821%
Weighted Average Pass-Through Rate                                                        2.636821%
Weighted Average Maturity (Stepdown Calculation)                                               325

Beginning Scheduled Collateral Loan Count                                                    1,862
Number of Loans Paid in Full                                                                     9
Ending Scheduled Collateral Loan Count                                                       1,853

Beginning Scheduled Collateral Balance                                              644,055,213.66
Ending Scheduled Collateral Balance                                                 639,795,390.70
Ending Actual Collateral Balance at 30-Jan-2004                                     639,796,082.97

Monthly P&I Constant                                                                  1,610,871.90
Special Servicing Fee                                                                         0.00
Prepayment Penalties                                                                          0.00
Realized Loss Amount                                                                          0.00
Cumulative Realized Loss                                                                      0.00

Class A Optimal Amount                                                                5,619,600.10

Ending Scheduled Balance for Premium Loans                                          639,795,390.70

Scheduled Principal                                                                       1,041.62
Unscheduled Principal                                                                 4,258,781.34
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                   GROUP            POOL 1 - 1 MONTH           POOL 1 - 6 MONTH                POOL 2                   TOTAL
<S>                                 <C>                       <C>                       <C>                        <C>
Collateral Description              1 Month LIBOR ARM         6 Month LIBOR ARM         6 Month LIBOR ARM               Mixed ARM
Weighted Average Coupon Rate                 2.856956                  3.015840                  3.018759                2.999427
Weighted Average Net Rate                    2.515779                  2.662236                  2.663923                2.646821
Pass-Through Rate                            2.505779                  2.652236                  2.653923                2.636821
Weighted Average Maturity                         310                       326                       331                     325
Record Date                                01/30/2004                01/30/2004                01/30/2004              01/30/2004
Principal and Interest Constant            166,643.99                983,047.10                461,180.81            1,610,871.90
Beginning Loan Count                              177                     1,155                       530                   1,862
Loans Paid in Full                                  0                         7                         2                       9
Ending Loan Count                                 177                     1,148                       528                   1,853
Beginning Scheduled Balance             69,899,430.93            390,989,032.52            183,166,750.21          644,055,213.66
Ending Scheduled Balance                69,786,303.53            387,916,044.48            182,093,042.69          639,795,390.70
Scheduled Principal                            227.67                    413.31                    400.64                1,041.62
Unscheduled Principal                      112,899.73              3,072,574.73              1,073,306.88            4,258,781.34
Scheduled Interest                         166,416.32                982,633.79                460,780.17            1,609,830.28
Servicing Fee                               19,873.38                115,212.79                 54,161.70              189,247.87
Master Servicing Fee                           582.49                  3,258.25                  1,526.39                5,367.13
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                               145,960.45                864,162.75                405,092.08            1,415,215.28
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>

<PAGE>

<TABLE>
<CAPTION>
MISCELLANEOUS REPORTING
<S>                                                                   <C>
Group Pool 1 - 1 Month
1 Month LIBOR Loan Balance                                             69,786,303.53
6 Month LIBOR Loan Balance                                            387,916,044.48
Interest Transfer Amount                                                        0.00
Principal Transfer Amount                                                       0.00
Pro-Rata Pct                                                               96.072571%
Senior Pct                                                                100.000000%
Senior Prepay Pct                                                         100.000000%
Subordinate Pct                                                             0.000000%
Subordinate Prepay Pct                                                      0.000000%

Group 1 - 6 Month
6 Month LIBOR Loan Balance                                            182,093,042.69
Interest Transfer Amount                                                        0.00
Principal Transfer Amount                                                       0.00
Pro-Rata Pct                                                               96.107981%
Senior Pct                                                                100.000000%
Senior Prepay Pct                                                         100.000000%
Subordinate Pct                                                             0.000000%
Subordinate Prepay Pct                                                      0.000000%
</TABLE>