<PAGE>


                                  EXHIBIT 10.1

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

                                SMT SERIES 2002-7
                           RECORD DATE: MARCH 31, 2003
                        DISTRIBUTION DATE: APRIL 21, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                 Certificate  Certificate   Beginning                               Current    Ending                   Cumulative
                   Class     Pass-Through   Certificate    Interest    Principal   Realized  Certificate       Total     Realized
Class    CUSIP   Description     Rate         Balance    Distribution Distribution   Loss      Balance     Distribution    Loss
-----    -----   -----------     ----         -------    ------------ ------------   ----      -------     ------------    ----

<S>    <C>       <C>         <C>          <C>            <C>          <C>          <C>      <C>            <C>          <C>
A      81743YAA5     SEN       1.62375%   505,767,737.58   684,366.97 2,437,236.02    0.00  503,330,501.56 3,121,602.99    0.00
A-R    SMT0207AR     SEN       3.52107%             0.00         0.00         0.00    0.00            0.00         0.00    0.00
B-1    81743YAE7     SUB       2.03375%     8,080,000.00    13,693.92         0.00    0.00    8,080,000.00   13,693.912    0.00
B-2    81743YAF4     SUB       3.11718%     5,771,000.00    14,991.03         0.00    0.00    5,771,000.00    14,991.03    0.00
B-3    81743YAG2     SUB       3.11718%     3,463,000.00     8,995.66         0.00    0.00    3,463,000.00     8,995.66    0.00
B-4    SMT0207B4     SUB       3.11718%     1,442,000.00     3,745.81         0.00    0.00    1,442,000.00     3,745.81    0.00
B-5    SMT0207B5     SUB       3.11718%     1,154,000.00     2,997.69         0.00    0.00    1,154,000.00     2,997.69    0.00
B-6    SMT0207B6     SUB       3.11718%     2,600,498.71     6,755.18         0.00    0.00    2,600,498.71     6,755.18    0.00
X-1    81743YAC1     SEN       1.11621%             0.00    81,217.72         0.00    0.00            0.00    81,217.72    0.00
X-2    81743YAD9     SEN       1.56288%             0.00   555,517.54         0.00    0.00            0.00   555,517.54    0.00
------------------------------------------------------------------------------------------------------------------------------------
Totals                                    528,278,236.29 1,372,281.52 2,437,236.02    0.00  525,841,000.27 3,809,517.54    0.00
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


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


                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>

                        Beginning      Scheduled   Unscheduled                       Total        Ending        Ending
       Original Face   Certificate     Principal    Principal            Realized  Principal    Certificate   Certificate
Class      Amount        Balance     Distribution Distribution Accretion Loss (1)  Reduction      Balance     Percentage
-----      ------        -------     ------------ ------------ --------- --------  ---------      -------     ----------
<S>    <C>            <C>            <C>          <C>          <C>       <C>      <C>          <C>            <C>
A      554,686,000.00 505,767,737.58     0.00     2,437,236.02   0.00       0.00  2,437,236.02 503,330,501.56 0.90741519
A-R            100.00           0.00     0.00             0.00   0.00       0.00          0.00           0.00 0.00000000
B-1      8,080,000.00   8,080,000.00     0.00             0.00   0.00       0.00          0.00   8,080,000.00 1.00000000
B-2      5,771,000.00   5,771,000.00     0.00             0.00   0.00       0.00          0.00   5,771,000.00 1.00000000
B-3      3,463,000.00   3,463,000.00     0.00             0.00   0.00       0.00          0.00   3,463,000.00 1.00000000
B-4      1,442,000.00   1,442,000.00     0.00             0.00   0.00       0.00          0.00   1,442,000.00 1.00000000
B-5      1,154,000.00   1,154,000.00     0.00             0.00   0.00       0.00          0.00   1,154,000.00 1.00000000
B-6      2,600,498.71   2,600,498.71     0.00             0.00   0.00       0.00          0.00   2,600,498.71 1.00000000
X-1             50.00           0.00     0.00             0.00   0.00       0.00          0.00           0.00 0.00000000
X-2             50.00           0.00     0.00             0.00   0.00       0.00          0.00           0.00 0.00000000
------------------------------------------------------------------------------------------------------------------------
Totals 577,196,698.71 528,278,236.29     0.00     2,437,236.02   0.00       0.00  2,437,236.02 525,841,000.27 0.91102565
------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
           Total
         Principal
Class   Distribution
-----   ------------
<S>    <C>
A      2,437,236.02
A-R            0.00
B-1            0.00
B-2            0.00
B-3            0.00
B-4            0.00
B-5            0.00
B-6            0.00
X-1            0.00
X-2            0.00
-------------------
Totals 2,437,236.02
-------------------
</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                          Total      Ending       Ending
       Original Face   Certificate     Principal    Principal              Realized   Principal  Certificate  Certificate
Class      Amount        Balance     Distribution Distribution  Accretion  Loss (3)   Reduction    Balance    Percentage
-----      ------        -------     ------------ ------------  ---------  --------   ---------    -------    ----------

<S>   <C>             <C>            <C>          <C>          <C>        <C>        <C>        <C>           <C>
A     554,686,000.00    911.80909123   0.00000000   4.39390217 0.00000000 0.00000000 4.39390217  907.41518906 0.90741519
A-R           100.00      0.00000000   0.00000000   0.00000000 0.00000000 0.00000000 0.00000000    0.00000000 0.00000000
B-1     8,080,000.00   1000.00000000   0.00000000   0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000
B-2     5,771,000.00   1000.00000000   0.00000000   0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000
B-3     3,463,000.00   1000.00000000   0.00000000   0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000
B-4     1,442,000.00   1000.00000000   0.00000000   0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000
B-5     1,154,000.00   1000.00000000   0.00000000   0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000
B-6     2,600,498.71   1000.00000000   0.00000000   0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 1.00000000
X-1            50.00      0.00000000   0.00000000   0.00000000 0.00000000 0.00000000 0.00000000    0.00000000 0.00000000
X-2            50.00      0.00000000   0.00000000   0.00000000 0.00000000 0.00000000 0.00000000    0.00000000 0.00000000
-------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
           Total
         Principal
Class   Distribution
-----   ------------
<S>     <C>
A       4.39390217
A-R     0.00000000
B-1     0.00000000
B-2     0.00000000
B-3     0.00000000
B-4     0.00000000
B-5     0.00000000
B-6     0.00000000
X-1     0.00000000
X-2     0.00000000
------------------
</TABLE>


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


                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                      Beginning                Payment of                                                Remaining
          Original       Current    Certificate/    Current     Unpaid     Current   Non-Supported             Total       Unpaid
            Face       Certificate    Notional      Accrued     Interest   Interest     Interest   Realized   Interest    Interest
Class      Amount         Rate         Balance      Interest   Shortfall  Shortfall    Shortfall   Loss (4) Distribution Shortfall
-----      ------         ----         -------      --------   ---------  ----------   ---------   -------- ------------ ---------
<S>    <C>             <C>         <C>            <C>          <C>        <C>        <C>           <C>      <C>          <C>
A       554,686,000.00   1.62375%  505,767,737.58   684,366.97     0.00       0.00      0.00        0.00      684,366.97    0.00
A-R             100.00   3.52107%            0.00         0.00     0.00       0.00      0.00        0.00            0.00    0.00
B-1       8,080,000.00   2.03375%    8,080,000.00    13,693.92     0.00       0.00      0.00        0.00       13,693.92    0.00
B-2       5,771,000.00   3.11718%    5,771,000.00    14,991.03     0.00       0.00      0.00        0.00       14,991.03    0.00
B-3       3,463,000.00   3.11718%    3,463,000.00     8,995.66     0.00       0.00      0.00        0.00        8,995.66    0.00
B-4       1,442,000.00   3.11718%    1,442,000.00     3,745.81     0.00       0.00      0.00        0.00        3,745.81    0.00
B-5       1,154,000.00   3.11718%    1,154,000.00     2,997.69     0.00       0.00      0.00        0.00        2,997.69    0.00
B-6       2,600,498.71   3.11718%    2,600,498.71     6,755.18     0.00       0.00      0.00        0.00        6,755.18    0.00
X-1              50.00   1.11621%   87,314,548.86    81,217.72     0.00       0.00      0.00        0.00       81,217.72    0.00
X-2              50.00   1.56288%  426,533,188.72   555,517.54     0.00       0.00      0.00        0.00      555,517.54    0.00
--------------------------------------------------------------------------------------------------------------------------------
Totals  577,196,698.71                            1,372,281.52     0.00       0.00      0.00        0.00    1,372,281.52    0.00
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
           Ending
        Certificate/
         Notational
Class      Balance
-----      -------
<S>    <C>
A      503,330,501.56
A-R              0.00
B-1      8,080,000.00
B-2      5,771,000.00
B-3      3,463,000.00
B-4      1,442,000.00
B-5      1,154,000.00
B-6      2,600,498.71
X-1     87,086,072.83
X-2    424,324,428.74
---------------------
Totals
---------------------
</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>
                                      Beginning                  Payment of
         Original      Current      Certificate/     Current      Unpaid     Current   Non-Supported                Total
           Face      Certificate      Notional       Accrued      Interest   Interest     Interest   Realized      Interest
Class     Amount        Rate           Balance       Interest    Shortfall  Shortfall    Shortfall   Loss (4)    Distribution
-----     ------        ----           -------       --------    ---------  ----------   ---------   --------    ------------
<S>   <C>            <C>         <C>              <C>            <C>        <C>        <C>           <C>        <C>


A     554,686,000.00  1.62375%       911.80909123     1.23379168 0.00000000 0.00000000 0.00000000    0.00000000     1.23379168
A-R           100.00  3.52107%         0.00000000     0.00000000 0.00000000 0.00000000 0.00000000    0.00000000     0.00000000
B-1     8,080,000.00  2.03375%      1000.00000000     1.69479208 0.00000000 0.00000000 0.00000000    0.00000000     1.69479208
B-2     5,771,000.00  3.11718%      1000.00000000     2.59764859 0.00000000 0.00000000 0.00000000    0.00000000     2.59764859
B-3     3,463,000.00  3.11718%      1000.00000000     2.59764944 0.00000000 0.00000000 0.00000000    0.00000000     2.59764944
B-4     1,442,000.00  3.11718%      1000.00000000     2.59764910 0.00000000 0.00000000 0.00000000    0.00000000     2.59764910
B-5     1,154,000.00  3.11718%      1000.00000000     2.59765165 0.00000000 0.00000000 0.00000000    0.00000000     2.59765165
B-6     2,600,498.71  3.11718%      1000.00000000     2.59764790 0.00000000 0.00000000 0.00000000    0.00000000     2.59764790
X-1            50.00  1.11621%   1746290.97720000  1624.35440000 0.00000000 0.00000000 0.00000000    0.00000000  1624.35440000
X-2            50.00  1.56288%   8530663.77440000 11110.35080000 0.00000000 0.00000000 0.00000000    0.00000000 11110.35080000
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
       Remaining        Ending
         Unpaid      Certificate/
       Interest       Notational
Class  Shortfall       Balance
-----  ---------       -------
<S>   <C>         <C>
A      0.00000000     907.41518906
A-R    0.00000000       0.00000000
B-1    0.00000000    1000.00000000
B-2    0.00000000    1000.00000000
B-3    0.00000000    1000.00000000
B-4    0.00000000    1000.00000000
B-5    0.00000000    1000.00000000
B-6    0.00000000    1000.00000000
X-1    0.00000000  1741721.4566000
X-2    0.00000000 8486488.57480000
----------------------------------
</TABLE>

(5) Per $1 denomination


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


                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits

               Payments of Interest and Principal                          3,979,211.89
               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                                                             3,979,211.89

Withdrawals
               Reimbursement for Servicer Advances                                 0.00
               Payment of Service Fee                                        169,694.35
               Payment of Interest and Principal                           3,809,517.54
                                                                           ------------
Total Withdrawals (Pool Distribution Amount)                               3,979,211.89

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





<PAGE>




                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<CAPTION>
<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                                                   165,292.04
Master Servicing Fee                                                    4,402.31
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                      ----------
Net Servicing Fee                                                     169,694.35
                                                                      ==========
</TABLE>






<TABLE>
<CAPTION>
                                          Beginning          Current          Current       Ending
       Account Type                        Balance         Withdrawals       Deposits       Balance
-----------------------------             ---------        -----------       --------      --------
<S>                                       <C>              <C>               <C>           <C>
Basis Risk Reserve Fund - X-1             1,512.84            0.00             0.00        1,512.84
Basis Risk Reserve Fund - X-2             8,487.16            0.00             0.00        8,487.16
</TABLE>




<PAGE>


             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

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


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

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


              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
            --------    ---------               --------    ---------
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%


 0.00       Periodic Advance                        0.00

</TABLE>



<TABLE>
<CAPTION>
                   Original $     Original %       Current $         Current %
                 -------------    -----------    -------------      -----------
<S>              <C>              <C>            <C>                <C>
Bankruptcy          100,261.00    0.01737033%       100,261.00      0.01906679%
Fraud            17,315,901.00    3.00000001%    17,315,901.00      3.29299180%
Special Hazard    5,771,967.00    1.00000000%     5,258,410.00      1.00000000%
</TABLE>

Limit of subordinate's exposure to certain types of losses



<PAGE>


                           DELINQUENCY STATUS BY GROUP

                                 ONE-MONTH LIBOR

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


                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
               --------    ---------               --------    ---------               --------     ---------
30 Days        0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%    0.000000%
60 Days        0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days        0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%    0.000000%
120 Days       0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days       0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days      0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
               --------    --------                --------    --------                --------     --------
               0.000000%   0.000000%               0.000000%   0.000000%               0.000000%    0.000000%
</TABLE>

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


              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
            --------    ---------               --------    ---------
30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%
</TABLE>


                                 SIX-MONTH LIBOR

<TABLE>
<CAPTION>
             DELINQUENT                            BANKRUPTCY                          FORECLOSURE
------------------------------------   ---------------------------------   ----------------------------------
                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
               --------    ---------               --------    ---------               --------     ---------
<S>            <C>         <C>         <C>         <C>         <C>         <C>         <C>          <C>
30 Days            0           0.00    30 Days         0           0.00    30 Days         0            0.00
60 Days            0           0.00    60 Days         0           0.00    60 Days         0            0.00
90 Days            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
               --------    ---------               --------    ---------               --------     ---------
30 Days        0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%    0.000000%
60 Days        0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%    0.000000%
90 Days        0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%    0.000000%
120 Days       0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%    0.000000%
150 Days       0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%    0.000000%
180+ Days      0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%    0.000000%
               --------    --------                --------    --------                --------     --------
               0.000000%   0.000000%               0.000000%   0.000000%               0.000000%    0.000000%
</TABLE>

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


              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
            --------    ---------               --------    ---------
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 Fixed & Arm
----------------------                                        -----------------
<S>                                                           <C>
Weighted Average Gross Coupon                                        3.502646%
Weighted Average Net Coupon                                          3.127179%
Weighted Average Pass-Through Rate                                   3.117179%
Weighted Average Maturity (Stepdown Calculation)                           349

Beginning Scheduled Collateral Loan Count                                1,452
Number of Loans Paid in Full                                                 6
Ending Scheduled Collateral Loan Count                                   1,446

Beginning Scheduled Collateral Balance                          528,278,236.29
Ending Scheduled Collateral Balance                             525,841,000.27
Ending Actual Collateral Balance at 31-Mar-2003                 525,837,687.54

Monthly P&I Constant                                              1,541,978.24
Special Servicing Fee                                                     0.00
Prepayment Penalties                                                      0.00
Realization Loss Amount                                                   0.00
Cumulative Realized Loss                                                  0.00
Scheduled Principal                                                       0.00
Unscheduled Principal                                             2,437,236.02
</TABLE>




                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                 <C>
Pro Rata Senior Percent                                              95.738893%
Senior Percent                                                      100.000000%
Senior Prepay Percent                                               100.000000%
Subordinate Percent                                                   0.000000%
Subordinate Prepay Percent                                            0.000000%
</TABLE>




<PAGE>




<TABLE>
<CAPTION>
            GROUP                          ONE MONTH LIBOR   SIX MONTH LIBOR              TOTAL
-------------------------------            ---------------   ---------------   -----------------
<S>                                        <C>               <C>               <C>
Collateral Description                            Monthly        6 Month Arm   Mixed Fixed & Arm
Weighted Average Coupon Rate                     3.131406           3.578640            3.502645
Weighted Average Net Rate                        2.756406           3.203079            3.127179
Pass-Through Rate                                2.746406           3.193079            3.117179
Weighted Average Maturity                             309                310                 349
Record Date                                    03/31/2003         03/31/2003          03/31/2003
Principal and Interest Constant                234,246.44       1,307,731.80        1,541,978.24
Beginning Loan Count                                  226              1,226               1,452
Loans Paid in Full                                      1                  5                   6
Ending Loan Count                                     225              1,221               1,446
Beginning Scheduled Balance                 89,766,622.49     438,511,613.80      528,278,236.29
Ending Scheduled Balance                    89,543,385.41     436,297,614.86      525,841,000.27
Scheduled Principal                                  0.00               0.00                0.00
Unscheduled Principal                          223,237.08       2,213,998.94        2,437,236.02
Scheduled Interest                             234,246.44       1,307,729.45        1,541,975.89
Servicing Fee                                   28,052.08         137,239.96          165,292.04
Master Servicing Fee                               748.06           3,654.25            4,402.31
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                                   205,446.30       1,166,835.24        1,372,281.54
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>