<PAGE>

                                                                    EXHIBIT 10.1

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

                                SMT SERIES 2002-9
                          RECORD DATE: JANUARY 30, 2004
                      DISTRIBUTION DATE: FEBRUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                          Certificate Class     Certificate Pass-       Beginning Certificate
Class          CUSIP         Description          Through Rate                 Balance
-------      ---------    -----------------     -----------------       ---------------------
<S>          <C>          <C>                   <C>                     <C>
 1A          81743SAA8           SEN                1.45000%                329,882,926.34
 2A          81743SAB6           SEN                2.74064%                118,890,387.75
X-1A         81743SAC4            IO                0.98901%                          0.00
X-1B         81743SAD2            IO                1.05654%                          0.00
 X-B         81743SAE0            IO                0.70342%                          0.00
 A-R         81743SAF7           SEN                3.15856%                          0.00
 B-1         81743SAG5           SUB                1.85000%                  7,702,000.00
 B-2         81743SAH3           SUB                2.55342%                  4,564,000.00
 B-3         81743SAJ9           SUB                2.55342%                  3,424,000.00
 B-4         SMT0209B4           SUB                2.55342%                  1,426,000.00
 B-5         SMR0209B5           SUB                2.55342%                    856,000.00
 B-6         SMT0209B6           SUB                2.55342%                  1,997,086.78
                                                                            --------------
Totals                                                                      468,742,400.87

<CAPTION>
              Interest              Principal          Current       Ending Certificate          Total         Cumulative
Class       Distribution          Distribution      Realized Loss         Balance             Distribution    Realized Loss
-------     ------------          -------------     -------------    ------------------       ------------    -------------
<S>         <C>                   <C>               <C>              <C>                      <C>             <C>
 1A          398,608.54              976,928.45           0.00          328,905,997.89        1,375,536.99         0.00
 2A          271,529.96              117,825.97           0.00          118,772,561.78          389,355.93         0.00
X-1A         144,726.25                    0.00           0.00                    0.00          144,726.25         0.00
X-1B         135,837.06                    0.00           0.00                    0.00          135,837.06         0.00
 X-B           4,514.80                    0.00           0.00                    0.00            4,514.80         0.00
 A-R               0.00                    0.00           0.00                    0.00                0.00         0.00
 B-1          11,873.92                    0.00           0.00            7,702,000.00           11,873.92         0.00
 B-2           9,711.52                    0.00           0.00            4,564,000.00            9,711.52         0.00
 B-3           7,285.77                    0.00           0.00            3,424,000.00            7,285.77         0.00
 B-4           3,034.32                    0.00           0.00            1,426,000.00            3,034.32         0.00
 B-5           1,821.44                    0.00           0.00              856,000.00            1,821.44         0.00
 B-6           4,249.51                    0.00           0.00            1,997,086.78            4,249.51         0.00
             ----------            ------------           ----          --------------        ------------         ----
Totals       993,193.09            1,094,754.42           0.00          467,647,646.45        2,087,947.51         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 Principal    Unscheduled Principal                  Realized
Class       Original Face Amount   Certificate Balance       Distribution             Distribution        Accretion     Loss (1)
------      --------------------   -------------------    -------------------    ---------------------    ---------     --------
<S>         <C>                    <C>                    <C>                    <C>                      <C>           <C>
 1A            381,698,000.00        329,882,926.34              0.00                   976,928.45            0.00        0.00
 2A            168,875,000.00        118,890,387.75              0.00                   117,825.97            0.00        0.00
X-1A                     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
 X-B                     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
 B-1             7,702,000.00          7,702,000.00              0.00                         0.00            0.00        0.00
 B-2             4,564,000.00          4,564,000.00              0.00                         0.00            0.00        0.00
 B-3             3,424,000.00          3,424,000.00              0.00                         0.00            0.00        0.00
 B-4             1,426,000.00          1,426,000.00              0.00                         0.00            0.00        0.00
 B-5               856,000.00            856,000.00              0.00                         0.00            0.00        0.00
 B-6             1,997,086.78          1,997,086.78              0.00                         0.00            0.00        0.00
------         --------------        --------------          --------                 ------------           -----       -----
Totals         570,533,186.78        468,742,400.87              0.00                 1,094,754.42            0.00        0.00

<CAPTION>
            Total Principal       Ending Certificate      Ending Certificate     Total Principal
Class          Reduction               Balance                Percentage           Distribution
------      ---------------       ------------------      ------------------     ---------------
<S>         <C>                   <C>                     <C>                    <C>
 1A             976,928.45          328,905,997.89            0.86171202             976,928.45
 2A             117,825.97          118,772,561.78            0.70331643             117,825.97
X-1A                  0.00                    0.00            0.00000000                   0.00
X-1B                  0.00                    0.00            0.00000000                   0.00
 X-B                  0.00                    0.00            0.00000000                   0.00
 A-R                  0.00                    0.00            0.00000000                   0.00
 B-1                  0.00            7,702,000.00            1.00000000                   0.00
 B-2                  0.00            4,564,000.00            1.00000000                   0.00
 B-3                  0.00            3,424,000.00            1.00000000                   0.00
 B-4                  0.00            1,426,000.00            1.00000000                   0.00
 B-5                  0.00              856,000.00            1.00000000                   0.00
 B-6                  0.00            1,997,086.78            1.00000000                   0.00
              ------------          --------------            ----------           ------------
Totals        1,094,754.42          467,647,646.45            0.81966774           1,094,754.42
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                       Beginning          Scheduled Principal    Unscheduled Principal                   Realized
Class       Original Face Amount   Certificate Balance       Distribution             Distribution        Accretion      Loss (3)
-----       --------------------   -------------------    -------------------    ---------------------    ---------      --------
<S>         <C>                    <C>                    <C>                    <C>                      <C>           <C>
 1A            381,698,000.00          864.27150465           0.00000000              2.55948809          0.00000000    0.00000000
 2A            168,875,000.00          704.01413916           0.00000000              0.69771115          0.00000000    0.00000000
X-1A                     0.00            0.00000000           0.00000000              0.00000000          0.00000000    0.00000000
X-1B                     0.00            0.00000000           0.00000000              0.00000000          0.00000000    0.00000000
 X-B                     0.00            0.00000000           0.00000000              0.00000000          0.00000000    0.00000000
 A-R                   100.00            0.00000000           0.00000000              0.00000000          0.00000000    0.00000000
 B-1             7,702,000.00         1000.00000000           0.00000000              0.00000000          0.00000000    0.00000000
 B-2             4,564,000.00         1000.00000000           0.00000000              0.00000000          0.00000000    0.00000000
 B-3             3,424,000.00         1000.00000000           0.00000000              0.00000000          0.00000000    0.00000000
 B-4             1,426,000.00         1000.00000000           0.00000000              0.00000000          0.00000000    0.00000000
 B-5               856,000.00         1000.00000000           0.00000000              0.00000000          0.00000000    0.00000000
 B-6             1,997,086.78         1000.00000000           0.00000000              0.00000000          0.00000000    0.00000000

<CAPTION>
            Total Principal       Ending Certificate      Ending Certificate     Total Principal
Class          Reduction               Balance                Percentage           Distribution
<S>         <C>                   <C>                     <C>                    <C>
 1A            2.55948809            861.71201656            0.86171202             2.55948809
 2A            0.69771115            703.31642801            0.70331643             0.69771115
X-1A           0.00000000              0.00000000            0.00000000             0.00000000
X-1B           0.00000000              0.00000000            0.00000000             0.00000000
 X-B           0.00000000              0.00000000            0.00000000             0.00000000
 A-R           0.00000000              0.00000000            0.00000000             0.00000000
 B-1           0.00000000           1000.00000000            1.00000000             0.00000000
 B-2           0.00000000           1000.00000000            1.00000000             0.00000000
 B-3           0.00000000           1000.00000000            1.00000000             0.00000000
 B-4           0.00000000           1000.00000000            1.00000000             0.00000000
 B-5           0.00000000           1000.00000000            1.00000000             0.00000000
 B-6           0.00000000           1000.00000000            1.00000000             0.00000000
</TABLE>

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

<PAGE>
                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                                                                   Payment of
               Original Face         Current         Beginning Certificate/    Current Accrued   Unpaid Interest    Current Interest
Class             Amount         Certificate Rate      Notional Balance           Interest          Shortfall           Shortfall
------        --------------     ----------------    ---------------------     ---------------   ---------------     ---------------
<S>           <C>                <C>                 <C>                       <C>               <C>                <C>
  1A          381,698,000.00         1.45000%           329,882,926.34           398,608.54           0.00                0.00
  2A          168,875,000.00         2.74064%           118,890,387.75           271,529.95           0.00                0.00
 X-1A                   0.00         0.98901%           175,600,751.69           144,726.25           0.00                0.00
 X-1B                   0.00         1.05654%           154,282,174.65           135,837.06           0.00                0.00
  X-B                   0.00         0.70342%             7,702,000.00             4,514.80           0.00                0.00
  A-R                 100.00         3.15856%                     0.00                 0.00           0.00                0.00
  B-1           7,702,000.00         1.85000%             7,702,000.00            11,873.92           0.00                0.00
  B-2           4,564,000.00         2.55342%             4,564,000.00             9,711.52           0.00                0.00
  B-3           3,424,000.00         2.55342%             3,424,000.00             7,285.77           0.00                0.00
  B-4           1,426,000.00         2.55342%             1,426,000.00             3,034.32           0.00                0.00
  B-5             856,000.00         2.55342%               856,000.00             1,821.44           0.00                0.00
  B-6           1,997,086.78         2.55342%             1,997,086.78             4,249.51           0.00                0.00
------        --------------         --------          ---------------           ----------           ----                ----
Totals        570,533,186.78                                                     993,193.08           0.00                0.00

<CAPTION>
                    Non-Supported
                      Interest        Realized         Total Interest    Remaining Unpaid       Ending Certificate/
Class                Shortfall        Loss (4)          Distribution   Interest Shortfall       Notational Balance
------             --------------     --------         --------------  ------------------       --------------------
<S>                <C>                <C>              <C>             <C>                      <C>
  1A                   0.00             0.00             398,608.54         0.00                  328,905,997.89
  2A                   0.00             0.00             271,529.96         0.00                  118,772,561.78
 X-1A                  0.00             0.00             144,726.25         0.00                  174,906,169.20
 X-1B                  0.00             0.00             135,837.06         0.00                  153,999,828.69
  X-B                  0.00             0.00               4,514.80         0.00                    7,702,000.00
  A-R                  0.00             0.00                   0.00         0.00                            0.00
  B-1                  0.00             0.00              11,873.92         0.00                    7,702,000.00
  B-2                  0.00             0.00               9,711.52         0.00                    4,564,000.00
  B-3                  0.00             0.00               7,285.77         0.00                    3,424,000.00
  B-4                  0.00             0.00               3,034.32         0.00                    1,426,000.00
  B-5                  0.00             0.00               1,821.44         0.00                      856,000.00
  B-6                  0.00             0.00               4,249.51         0.00                    1,997,086.78
------                 ----             ----             ----------         ----                   -------------
Totals                 0.00             0.00             993,193.09         0.00
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                           Payment of
                              Current        Beginning       Current        Unpaid         Current
Class      Original Face    Certificate    Certificate/      Accrued       Interest        Interest
 (5)          Amount           Rate      Notional Balance    Interest      Shortfall      Shortfall
---------  -------------    -----------  ----------------   ----------    ----------      ----------
<S>        <C>              <C>          <C>                <C>           <C>             <C>
 1A        381,698,000.00    1.45000%       864.27150465     1.04432808    0.00000000      0.00000000
 2A        168,875,000.00    2.74064%       704.01413916     1.60787535    0.00000000      0.00000000
X-1A                 0.00    0.98901%       861.77460172     0.71025554    0.00000000      0.00000000
X-1B                 0.00    1.05654%       867.13109186     0.76346174    0.00000000      0.00000000
 X-B                 0.00    0.70342%      1000.00000000     0.58618541    0.00000000      0.00000000
 A-R               100.00    3.15856%         0.00000000     0.00000000    0.00000000      0.00000000
 B-1         7,702,000.00    1.85000%      1000.00000000     1.54166710    0.00000000      0.00000000
 B-2         4,564,000.00    2.55342%      1000.00000000     2.12785276    0.00000000      0.00000000
 B-3         3,424,000.00    2.55342%      1000.00000000     2.12785339    0.00000000      0.00000000
 B-4         1,426,000.00    2.55342%      1000.00000000     2.12785414    0.00000000      0.00000000
 B-5           856,000.00    2.55342%      1000.00000000     2.12785047    0.00000000      0.00000000
 B-6         1,997,086.78    2.55342%      1000.00000000     2.12785445    0.00000000      0.00000000

<CAPTION>
                   Non-Supported
                      Interest        Realized         Total Interest   Remaining Unpaid        Ending Certificate/
Class(5)             Shortfall        Loss (6)          Distribution   Interest Shortfall       Notational Balance
------             --------------     --------         --------------  ------------------       --------------------
<S>                <C>               <C>               <C>             <C>                      <C>
 1A                  0.00000000      0.00000000          1.04432808        0.00000000             861.71201656
 2A                  0.00000000      0.00000000          1.60787541        0.00000000             703.31642801
X-1A                 0.00000000      0.00000000          0.71025554        0.00000000             858.36588312
X-1B                 0.00000000      0.00000000          0.76346174        0.00000000             865.54418812
 X-B                 0.00000000      0.00000000          0.58618541        0.00000000            1000.00000000
 A-R                 0.00000000      0.00000000          0.00000000        0.00000000               0.00000000
 B-1                 0.00000000      0.00000000          1.54166710        0.00000000            1000.00000000
 B-2                 0.00000000      0.00000000          2.12785276        0.00000000            1000.00000000
 B-3                 0.00000000      0.00000000          2.12785339        0.00000000            1000.00000000
 B-4                 0.00000000      0.00000000          2.12785414        0.00000000            1000.00000000
 B-5                 0.00000000      0.00000000          2.12785047        0.00000000            1000.00000000
 B-6                 0.00000000      0.00000000          2.12785445        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                          2,238,163.81
         Liquidations, Insurance Proceeds, Reserve Funds                     0.00
         Proceeds from Repurchased Loans                                     0.00
         Other Amounts (Servicer Advances)                                   0.00
         Realized Losses                                                     0.00
         Prepayment Penalties                                                0.00
                                                                     ------------
Total Deposits                                                       2,238,163.81

Withdrawals
         Reimbursement for Servicer Advances                                 0.00
         Payment of Service Fee                                        150,216.31
         Payment of Interest and Principal                           2,087,947.50
                                                                     ------------
Total Withdrawals (Pool Distribution Amount)                         2,238,163.81

                                                                     ============
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                                                    146,700.73
Master Servicing Fee                                                     3,515.58
Supported Prepayment/Curtailment Interest Shortfall                          0.00
                                                                       ----------

Net Servicing Fee                                                      150,216.31
                                                                       ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                         Beginning        Current       Current         Ending
       Account Type                       Balance       Withdrawals     Deposits        Balance
------------------------------------------------------------------------------------------------
<S>                                      <C>            <C>             <C>             <C>
X-1 Basis Risk Reserve Fund              5,000.00          0.00           0.00          5,000.00
X-2 Basis Risk Reserve Fund              5,000.00          0.00           0.00          5,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
             DELINQUENT                            BANKRUPTCY                        FORECLOSURE
------------------------------------------------------------------------------------------------------------
                No. of      Principal               No. of     Principal              No. of     Principal
                Loans        Balance                Loans       Balance                Loans      Balance
<S>           <C>           <C>         <C>        <C>         <C>         <C>        <C>        <C>
0-29 Days         0             0.00    0-29 Days      0           0.00    0-29 Days     0           0.00
30 Days           0             0.00    30 Days        0           0.00    30 Days       0           0.00
60 Days           0             0.00    60 Days        0           0.00    60 Days       0           0.00
90 Days           0             0.00    90 Days        0           0.00    90 Days       0           0.00
120 Days          0             0.00    120 Days       0           0.00    120 Days      0           0.00
150 Days          0             0.00    150 Days       0           0.00    150 Days      0           0.00
180+ Days         0             0.00    180+ Days      0           0.00    180+ Days     0           0.00
              ----------------------               --------    --------               --------   --------
                  0             0.00                   0           0.00                  0           0.00

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

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

<CAPTION>
                 REO                             TOTAL
--------------------------------------------------------------------
               No. of    Principal               No. of    Principal
               Loans      Balance                Loans      Balance
<S>           <C>        <C>        <C>         <C>        <C>
0-29 Days        0           0.00   0-29 Days       0         0.00
30 Days          0           0.00   30 Days         0         0.00
60 Days          0           0.00   60 Days         0         0.00
90 Days          0           0.00   90 Days         0         0.00
120 Days         0           0.00   120 Days        0         0.00
150 Days         0           0.00   150 Days        0         0.00
180+ Days        0           0.00   180+ Days       0         0.00
              --------   --------               --------   -------
                 0           0.00                   0         0.00

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

0-29 Days     0.000000%  0.000000%  0-29 Days   0.000000%  0.000000%
30 Days       0.000000%  0.000000%  30 Days     0.000000%  0.000000%
60 Days       0.000000%  0.000000%  60 Days     0.000000%  0.000000%
90 Days       0.000000%  0.000000%  90 Days     0.000000%  0.000000%
120 Days      0.000000%  0.000000%  120 Days    0.000000%  0.000000%
150 Days      0.000000%  0.000000%  150 Days    0.000000%  0.000000%
180+ Days     0.000000%  0.000000%  180+ Days   0.000000%  0.000000%
              -------------------               -------------------
              0.000000%  0.000000%              0.000000%  0.000000%
</TABLE>

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

<PAGE>

<TABLE>
<CAPTION>
               Original $     Original %     Current $       Current %      Current Class %    Prepayment %
               ----------     ----------     ---------       ---------      ---------------    ------------
<S>          <C>             <C>           <C>             <C>              <C>               <C>
  Class A    570,533,086.78  99.99998247%  467,647,646.45  100.00000000%      95.729886%          0.000000%
  Class 1A   188,844,086.78  33.09957968%  138,741,648.56   29.66798820%      70.332012%      1,647.075810%
  Class 2A    19,969,086.78   3.50007453%   19,969,086.78    4.27011382%      25.397874%        594.782140%
Class X-1-A   19,969,086.78   3.50007453%   19,969,086.78    4.27011382%       0.000000%          0.000000%
Class X-1-B   19,969,086.78   3.50007453%   19,969,086.78    4.27011382%       0.000000%          0.000000%
 Class B-1    12,267,086.78   2.15010924%   12,267,086.78    2.62314734%       1.646966%         38.569616%
 Class B-2     7,703,086.78   1.35015578%    7,703,086.78    1.64719888%       0.975948%         22.855327%
 Class B-3     4,279,086.78   0.75001540%    4,279,086.78    0.91502370%       0.732175%         17.146503%
 Class B-4     2,853,086.78   0.50007376%    2,853,086.78    0.61009326%       0.304930%          7.141038%
 Class B-5     1,997,086.78   0.35003867%    1,997,086.78    0.42704947%       0.183044%          4.286626%
 Class B-6             0.00   0.00000000%            0.00    0.00000000%       0.427049%         10.000892%
</TABLE>

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

<TABLE>
<CAPTION>
                       Original $       Original %      Current $       Current %
                       -----------      ----------      ---------       ---------
<S>                  <C>                <C>            <C>             <C>
    Bankruptcy          100,000.00      0.01752746%      100,000.00    0.02138362%
         Fraud       17,115,996.00      3.00000007%    9,879,946.13    2.11269023%
Special Hazard        6,000,000.00      1.05164785%    5,997,358.90    1.28245249%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     GROUP 1

<TABLE>
<CAPTION>
           DELINQUENT                       BANKRUPTCY                       FORECLOSURE
-----------------------------------------------------------------------------------------------------
              No. of   Principal              No. of    Principal              No. of     Principal
              Loans     Balance               Loans      Balance               Loans       Balance
<S>         <C>        <C>        <C>        <C>        <C>        <C>        <C>         <C>
0-29 Days       0          0.00   0-29 Days     0           0.00   0-29 Days     0            0.00
30 Days         0          0.00   30 Days       0           0.00   30 Days       0            0.00
60 Days         0          0.00   60 Days       0           0.00   60 Days       0            0.00
90 Days         0          0.00   90 Days       0           0.00   90 Days       0            0.00
120 Days        0          0.00   120 Days      0           0.00   120 Days      0            0.00
150 Days        0          0.00   150 Days      0           0.00   150 Days      0            0.00
180+ Days       0          0.00   180+Days      0           0.00   180+ Days     0            0.00
            ---------  --------              ---------  --------              ----------  --------
                0          0.00                 0           0.00                 0            0.00

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

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

<CAPTION>
              REO                            TOTAL
----------------------------------------------------------------
            No. of    Principal              No. of    Principal
            Loans      Balance               Loans      Balance
<S>        <C>        <C>        <C>        <C>        <C>
0-29 Days     0           0.00   0-29 Days     0           0.00
30 Days       0           0.00   30 Days       0           0.00
60 Days       0           0.00   60 Days       0           0.00
90 Days       0           0.00   90 Days       0           0.00
120 Days      0           0.00   120 Days      0           0.00
150 Days      0           0.00   150 Days      0           0.00
180+ Days     0           0.00   180+Days      0           0.00
           ---------  --------              -------    --------
              0           0.00                 0           0.00

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

0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%
30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%
60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%
90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%  180+ Days  0.000000%  0.000000%
           --------   --------              --------   --------
           0.000000%  0.000000%             0.000000%  0.000000%
</TABLE>

                                     GROUP 2

<TABLE>
<CAPTION>
           DELINQUENT                       BANKRUPTCY                       FORECLOSURE
--------------------------------------------------------------------------------------------------
             No. of   Principal              No. of    Principal              No. of     Principal
             Loans     Balance               Loans      Balance               Loans       Balance
<S>        <C>        <C>        <C>        <C>        <C>        <C>        <C>        <C>
0-29 Days      0          0.00   0-29 Days     0           0.00   0-29 Days     0           0.00
30 Days        0          0.00   30 Days       0           0.00   30 Days       0           0.00
60 Days        0          0.00   60 Days       0           0.00   60 Days       0           0.00
90 Days        0          0.00   90 Days       0           0.00   90 Days       0           0.00
120 Days       0          0.00   120 Days      0           0.00   120 Days      0           0.00
150 Days       0          0.00   150 Days      0           0.00   150 Days      0           0.00
180+ Days      0          0.00   180+ Days     0           0.00   180+ Days     0           0.00
           ---------  --------              --------   --------                -------  ---------
               0          0.00                 0           0.00                 0           0.00

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

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

<CAPTION>
              REO                            TOTAL
----------------------------------------------------------------
            No. of    Principal              No. of    Principal
            Loans      Balance               Loans      Balance
<S>        <C>        <C>        <C>        <C>        <C>
0-29 Days     0           0.00   0-29 Days     0           0.00
30 Days       0           0.00   30 Days       0           0.00
60 Days       0           0.00   60 Days       0           0.00
90 Days       0           0.00   90 Days       0           0.00
120 Days      0           0.00   120 Days      0           0.00
150 Days      0           0.00   150 Days      0           0.00
180+ Days     0           0.00   180+Days      0           0.00
           -------    --------              -------    --------
              0           0.00                 0           0.00

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

0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%
30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%
60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%
90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%  180+ Days  0.000000%  0.000000%
           --------   --------              --------   --------
           0.000000%  0.000000%             0.000000%  0.000000%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                             Mixed Arm
<S>                                                            <C>
Weighted Average Gross Coupon                                        2.927175%
Weighted Average Net Coupon                                          2.551616%
Weighted Average Pass-Through Rate                                   2.542615%
Weighted Average Maturity (Stepdown Calculation)                          315

Beginning Scheduled Collateral Loan Count                               1,291
Number of Loans Paid in Full                                                3
Ending Scheduled Collateral Loan Count                                  1,288

Beginning Scheduled Collateral Balance                         468,742,400.88
Ending Scheduled Collateral Balance                            467,647,646.46
Ending Actual Collateral Balance at 30-Jan-2004                467,646,889.78

Monthly P&I Constant                                             1,143,409.39
Special Servicing Fee                                                    0.00
Prepayment Penalties                                                     0.00
Realization Loss Amount                                                  0.00
Cumulative Realized Loss                                                 0.00

Class A Optimal Amount                                           2,045,456.22

Ending Scheduled Balance for Premium Loans                     467,647,646.46

Scheduled Principal                                                      0.00
Unscheduled Principal                                            1,094,754.42
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                            <C>
Pro Rata Senior Percent                                         95.739859%
Senior Percentage                                              100.000000%
Senior Prepay Percentage                                       100.000000%
Subordinate Percentage                                           0.000000%
Subordinate Prepayment Percentage                                0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
            GROUP                          1                 2             TOTAL
<S>                                  <C>              <C>              <C>
Collateral Description                    Mixed ARM      6 Month ARM        Mixed ARM
Weighted Average Coupon Rate               2.855356         3,124642         2.927175
Weighted Average Net Rate                  2.479592         2.749642         2.551616
Pass-Through Rate                          2.470592         2.740642         2.542615
Weighted Average Maturity                       299              341              315
Record Date                              01/30/2004       01/30/2004       01/30/2004
Principal and Interest Constant          817,885.82       325,523.57     1,143,409.39
Beginning Loan Count                            913              378            1,291
Loans Paid in Full                                2                1                3
Ending Loan Count                               911              377            1,288
Beginning Scheduled Balance          343,727,013.13   125,015,387.75   468,742,400.88
Ending Scheduled Balance             342,750,084.68   124,897,561.78   467,647,646.46
Scheduled Principal                            0.00             0.00             0.00
Unscheduled Principal                    976,928.45       117,825.97     1,094,754.42
Scheduled Interest                       817,885.82       325,523.57     1,143,409.39
Servicing Fee                            107,633.43        39,067.30       146,700.73
Master Servicing Fee                       2,577.96           937.62         3,515.58
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                             707,674.43       285,518.65       993,193.08
Realized Loss Amount                           0.00             0.00             0.00
Cumulative Realized Loss                       0.00             0.00             0.00
Percentage of Cumulative Losses                0.00             0.00             0.00
Prepayment Penalties                           0.00             0.00             0.00
Special Servicing Fee                          0.00             0.00             0.00
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<CAPTION>
Group 1
-------
<S>                                  <C>
One Month LIBOR Loans                182,268,200.30
Six Month LIBOR Loans                160,481,884.38
</TABLE>