<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 2003-5
                         RECORD DATE: FEBRUARY 27, 2004
                        DISTRIBUTION DATE: MARCH 22, 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    81743PCJ3      SEN          1.40125%       637,187,901.21    744,049.63  12,577,087.57
 A-2    81743PCK0      SEN          1.50000%       140,206,678.20    175,258.35   2,520,711.21
X-1A    81743PCL8       IO          1.08350%                 0.00     79,182.17           0.00
X-1B    81743PCM6       IO          1.37110%                 0.00    627,841.05           0.00
 X-2    81743PCN4       IO          1.26479%                 0.00    147,777.01           0.00
 X-B    81743PCP9       IO          1.04733%                 0.00     13,129.10           0.00
 A-R    81743PCQ7        R          2.69804%                 0.00          0.00           0.00
 B-1    81743PCR5      SUB          1.69125%        15,043,000.00     21,201.23           0.00
 B-2    81743PCS3      SUB          2.73858%         6,447,000.00     14,713.00           0.00
 B-3    81743PCT1      SUB          2.73858%         6,017,000.00     13,731.68           0.00
 B-4    SEQ0305B4      SUB          2.73858%         2,149,000.00      4,904.33           0.00
 B-5    SEQ0305B5      SUB          2.73858%         1,289,000.00      2,941.69           0.00
 B-6    SEQ0305B6      SUB          2.73858%         3,439,209.40      7,848.78           0.00
                                                   --------------  ------------  -------------
Totals                                             811,778,788.81  1,852,578.02  15,097,798.78
                                                   --------------  ------------  -------------

<CAPTION>
                      Current     Ending Certificate      Total       Cumulative
Class     CUSIP    Realized Loss       Balance        Distribution   Realized Loss
------  ---------  -------------  ------------------  -------------  -------------
<S>     <C>        <C>            <C>                 <C>            <C>
 A-1    81743PCJ3      0.00         624,610,813.64    13,321,137.20      0.00
 A-2    81743PCK0      0.00         137,685,966.99     2,695,969.56      0.00
X-1A    81743PCL8      0.00                   0.00        79,182.17      0.00
X-1B    81743PCM6      0.00                   0.00       627,841.05      0.00
 X-2    81743PCN4      0.00                   0.00       147,777.01      0.00
 X-B    81743PCP9      0.00                   0.00        13,129.10      0.00
 A-R    81743PCQ7      0.00                   0.00             0.00      0.00
 B-1    81743PCR5      0.00          15,043,000.00        21,201.23      0.00
 B-2    81743PCS3      0.00           6,447,000.00        14,713.00      0.00
 B-3    81743PCT1      0.00           6,017,000.00        13,731.68      0.00
 B-4    SEQ0305B4      0.00           2,149,000.00         4,904.33      0.00
 B-5    SEQ0305B5      0.00           1,289,000.00         2,941.69      0.00
 B-6    SEQ0305B6      0.00           3,439,209.40         7,848.78      0.00
                       ----         --------------    -------------      ----
Totals                 0.00         796,680,990.03    16,950,376.80      0.00
                       ----         --------------    -------------      ----
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                           Beginning      Scheduled    Unscheduled
        Original Face     Certificate     Principal     Principal               Realized
Class       Amount          Balance     Distribution  Distribution   Accretion  Loss (1)
-----   --------------  --------------  ------------  -------------  ---------  --------
<S>     <C>             <C>             <C>           <C>            <C>        <C>
 A-1    675,596,000.00  637,187,901.21     307.09     12,576,780.48     0.00      0.00
 A-2    149,609,000.00  140,206,678.20       0.00      2,520,711.21     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-2              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     15,043,000.00   15,043,000.00       0.00              0.00     0.00      0.00
 B-2      6,447,000.00    6,447,000.00       0.00              0.00     0.00      0.00
 B-3      6,017,000.00    6,017,000.00       0.00              0.00     0.00      0.00
 B-4      2,149,000.00    2,149,000.00       0.00              0.00     0.00      0.00
 B-5      1,289,000.00    1,289,000.00       0.00              0.00     0.00      0.00
 B-6      3,439,209.40    3,439,209.40       0.00              0.00     0.00      0.00
        --------------  --------------     ------     -------------     ----      ----
Totals  859,589,309.40  811,778,788.81     307.09     15,097,491.69     0.00      0.00
        --------------  --------------     ------     -------------     ----      ----

<CAPTION>
        Total Principal  Ending Certificate  Ending Certificate  Total Principal
Class      Reduction          Balance            Percentage        Distribution
-----   ---------------  ------------------  ------------------  ---------------
<S>     <C>              <C>                 <C>                 <C>
 A-1     12,577,087.57     624,610,813.64          0.92453303     12,577,087.57
 A-2      2,520,711.21     137,685,966.99          0.92030538      2,520,711.21
X-1A              0.00               0.00          0.00000000              0.00
X-1B              0.00               0.00          0.00000000              0.00
 X-2              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      15,043,000.00          1.00000000              0.00
 B-2              0.00       6,447,000.00          1.00000000              0.00
 B-3              0.00       6,017,000.00          1.00000000              0.00
 B-4              0.00       2,149,000.00          1.00000000              0.00
 B-5              0.00       1,289,000.00          1.00000000              0.00
 B-6              0.00       3,439,209.40          1.00000000              0.00
         -------------     --------------          ----------     -------------
Totals   15,097,798.78     796,680,990.03          0.92681584     15,097,798.78
         -------------     --------------          ----------     -------------
</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                Realized
Class      Amount         Balance     Distribution  Distribution   Accretion   Loss (3)
-----  --------------  -------------  ------------  ------------  ----------  ----------
<S>    <C>             <C>            <C>           <C>           <C>         <C>
 A-1   675,596,000.00   943.14930996   0.00045455    18.61583029  0.00000000  0.00000000
 A-2   149,609,000.00   937.15403619   0.00000000    16.84866024  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-2             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    15,043,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
 B-2     6,447,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
 B-3     6,017,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
 B-4     2,149,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
 B-5     1,289,000.00  1000.00000000   0.00000000     0.00000000  0.00000000  0.00000000
 B-6     3,439,209.40  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>
 A-1     18.61628484        924.53302512       0.92453303        18.61628484
 A-2     16.84866024        920.30537595       0.92030538        16.84866024
X-1A      0.00000000          0.00000000       0.00000000         0.00000000
X-1B      0.00000000          0.00000000       0.00000000         0.00000000
 X-2      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>
                                             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    675,596,000.00      1.04125%      637,187,901.21    744,049.62     0.00        0.00
 A-2    149,609,000.00      1.50000%      140,206,678.20    175,258.35     0.00        0.00
X-1A              0.00      1.08350%       87,696,007.05     79,182.17     0.00        0.00
X-1B              0.00      1.37110%      549,491,894.16    627,841.04     0.00        0.00
 X-2              0.00      1.26479%      140,206,678.20    147,777.01     0.00        0.00
 X-B              0.00      1.04733%       15,043,000.00     13,129.10     0.00        0.00
 A-R            100.00      2.69804%                0.00          0.00     0.00        0.00
 B-1     15,043,000.00      1.69125%       15,043,000.00     21,201.23     0.00        0.00
 B-2      6,447,000.00      2.73858%        6,447,000.00     14,713.00     0.00        0.00
 B-3      6,017,000.00      2.73858%        6,017,000.00     13,731.68     0.00        0.00
 B-4      2,149,000.00      2.73858%        2,149,000.00      4,904.33     0.00        0.00
 B-5      1,289,000.00      2.73858%        1,289,000.00      2,941.69     0.00        0.00
 B-6      3,439,209.40      2.73858%        3,439,209.40      7,848.78     0.00        0.00
        --------------      -------       --------------  ------------     ----        ----
Totals  859,589,309.40                                    1,852,578.00     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       744,049.63      0.00    624,610,813.64
 A-2      0.00       0.00       175,258.35      0.00    137,685,966.99
X-1A      0.00       0.00        79,182.17      0.00     86,964,889.84
X-1B      0.00       0.00       627,841.05      0.00    537,645,923.80
 X-2      0.00       0.00       147,777.01      0.00    137,685,966.99
 X-B      0.00       0.00        13,129.10      0.00     15,043,000.00
 A-R      0.00       0.00             0.00      0.00              0.00
 B-1      0.00       0.00        21,201.23      0.00     15,043,000.00
 B-2      0.00       0.00        14,713.00      0.00      6,447,000.00
 B-3      0.00       0.00        13,731.68      0.00      6,017,000.00
 B-4      0.00       0.00         4,904.33      0.00      2,149,000.00
 B-5      0.00       0.00         2,941.69      0.00      1,289,000.00
 B-6      0.00       0.00         7,848.78      0.00      3,439,209.40
          ----       ----     ------------      ----    --------------
Totals    0.00       0.00     1,852,578.02      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     675,596,000.00    1.40125%     943.14930996      1.10132331     0.00000000  0.00000000
   A-2     149,609,000.00    1.50000%     937.15403619      1.17144256     0.00000000  0.00000000
  X-1A               0.00    1.08350%     975.40693173      0.88071099     0.00000000  0.00000000
  X-1B               0.00    1.37110%     938.19755286      1.07197018     0.00000000  0.00000000
   X-2               0.00    1.26479%     937.15403619      0.98775481     0.00000000  0.00000000
   X-B               0.00    1.04733%    1000.00000000      0.87277139     0.00000000  0.00000000
   A-R             100.00    2.69804%       0.00000000      0.00000000     0.00000000  0.00000000
   B-1      15,043,000.00    1.69125%    1000.00000000      1.40937512     0.00000000  0.00000000
   B-2       6,447,000.00    2.73858%    1000.00000000      2.28214673     0.00000000  0.00000000
   B-3       6,017,000.00    2.73858%    1000.00000000      2.28214725     0.00000000  0.00000000
   B-4       2,149,000.00    2.73858%    1000.00000000      2.28214518     0.00000000  0.00000000
   B-5       1,289,000.00    2.73858%    1000.00000000      2.28214895     0.00000000  0.00000000
   B-6       3,439,209.40    2.73858%    1000.00000000      2.28214659     0.00000000  0.00000000

<CAPTION>
           Non-Supported                               Remaining
             Interest                                    Unpaid
             Shortfall      Realized   Total Interest   Interest   Ending Certificate/
Class (5)                   Loss (6)    Distribution   Shortfall   Notational Balance
---------  -------------  -----------  --------------  ----------  -------------------
<S>        <C>            <C>          <C>             <C>         <C>
   A-1      0.00000000     0.00000000    1.10132332    0.00000000     924.53302512
   A-2      0.00000000     0.00000000    1.17144256    0.00000000     920.30537595
  X-1A      0.00000000     0.00000000    0.88071099    0.00000000     967.27501309
  X-1B      0.00000000     0.00000000    1.07197020    0.00000000     917.97184885
   X-2      0.00000000     0.00000000    0.98775481    0.00000000     920.30537595
   X-B      0.00000000     0.00000000    0.87277139    0.00000000    1000.00000000
   A-R      0.00000000     0.00000000    0.00000000    0.00000000       0.00000000
   B-1      0.00000000     0.00000000    1.40937512    0.00000000    1000.00000000
   B-2      0.00000000     0.00000000    2.28214673    0.00000000    1000.00000000
   B-3      0.00000000     0.00000000    2.28214725    0.00000000    1000.00000000
   B-4      0.00000000     0.00000000    2.28214518    0.00000000    1000.00000000
   B-5      0.00000000     0.00000000    2.28214895    0.00000000    1000.00000000
   B-6      0.00000000     0.00000000    2.28214659    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                                       17,193,747.76
         Liquidations, Insurance Proceeds, Reserve Funds                                   0.00
         Proceeds from Repurchased Loans                                                   0.00
         Other Amounts (Servicer Advances)                                            27,505.28
         Realized Losses (Gains, Subsequent Expenses & Recoveries)                         0.00
         Prepayment Penalties                                                              0.00
                                                                                  -------------
Total Deposits                                                                    17,221,253.04

Withdrawals
         Reimbursement for Servicer Advances                                          11,963.95
         Payment of Service Fee                                                      258,912.31
         Payment of Interest and Principal                                        16,950,376.78
                                                                                  -------------
Total Withdrawals (Pool Distribution Amount)                                      17,221,253.04

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                                                   253,838.70
Master Servicing Fee                                                    5,073.61
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                                      ----------

Net Servicing Fee                                                     258,912.31
                                                                      ==========
</TABLE>

<PAGE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                        Beginning    Current     Current   Ending
     Account Type        Balance   Withdrawals  Deposits   Balance
----------------------  ---------  -----------  --------  --------
<S>                     <C>        <C>          <C>       <C>
Class X-1 Reserve Fund  5,000.00      0.00        0.00    5,000.00
Class X-2 Reserve Fund  2,500.00      0.00        0.00    2,500.00
Class X-B Reserve Fund  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       30      11,607,786.58  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
              ---------------------                 -------------                    --------------
              30      11,607,786.58                 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    1.376147%    1.457015%    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%
           ---------------------                -------------------              --------------------
           1.376147%    1.457015%               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       30      11,607,786.58
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                   30      11,607,786.58

             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    1.376147%    1.457015%
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%             1.376147%    1.457015%
</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  27,505.28
</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      34,384,209.40  4.00007411%  34,384,209.40  4.31593195%    95.684068%       0.000000%
Class X-1-A  34,384,209.40  4.00007411%  34,384,209.40  4.31593195%     0.000000%       0.000000%
Class X-1-B  34,384,209.40  4.00007411%  34,384,209.40  4.31593195%     0.000000%       0.000000%
Class X-2    34,384,209.40  4.00007411%  34,384,209.40  4.31593195%     0.000000%       0.000000%
Class B-1    19,341,209.40  2.25005234%  19,341,209.40  2.42772322%     1.888209%      43.749734%
Class B-2    12,894,209.40  1.50004302%  12,894,209.40  1.61849091%     0.809232%      18.749886%
Class B-3     6,877,209.40  0.80005758%   6,877,209.40  0.86323252%     0.755258%      17.499312%
Class B-4     4,728,209.40  0.55005447%   4,728,209.40  0.59348842%     0.269744%       6.249962%
Class B-5     3,439,209.40  0.40009914%   3,439,209.40  0.43169216%     0.161796%       3.748814%
Class B-6             0.00  0.00000000%           0.00  0.00000000%     0.431692%      10.002293%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
            DELINQUENT                       BANKRUPTCY                         FORECLOSURE
--------------------------------  --------------------------------  -------------------------------
ONE-MONTH LIBOR - GROUP 1
             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      209,623.12  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      209,623.12                 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    0.505051%  0.230649%   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%
           -------------------               --------------------              -------------------
           0.505051%  0.230649%              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        1      209,623.12
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      209,623.12

             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    0.505051%  0.230649%
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%             0.505051%  0.230649%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
              DELINQUENT                        BANKRUPTCY                         FORECLOSURE
-----------------------------------  -------------------------------  --------------------------------
SIX-MONTH LIBOR - GROUP 1
             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       25      10,081,104.33  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
              ---------------------                 --------------                   ---------------
              25      10,081,104.33                 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    1.566416%    1.794181%    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%
           ---------------------                -------------------              --------------------
           1.566416%    1.794181%               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       25      10,081,104.33
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                 25      10,081,104.33

            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    1.566416%    1.794181%
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%            1.566416%    1.794181%

<CAPTION>
              DELINQUENT                         BANKRUPTCY                     FORECLOSURE
----------------------------------  --------------------------------  --------------------------------
SIX-MONTH LIBOR - GROUP 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        4      1,317,059.13  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
               -------------------                 ---------------                   --------------
               4      1,317,059.13                 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    1.036269%    0.915127%   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%
           ---------------------               --------------------              --------------------
           1.036269%    0.915127%              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        4      1,317,059.13
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                    4      1,317,059.13

            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    1.036269%   0.915127%
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%             1.036269%   0.915127%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
           Collateral Description                                    Mixed Arm
<S>                                                               <C>
Weighted Average Gross Coupon                                           3.121279%
Weighted Average Net Coupon                                             2.746046%
Weighted Average Pass-Through Rate                                      2.738546%
Weighted Average Maturity (Stepdown Calculation)                             330

Beginning Scheduled Collateral Loan Count                                  2,205
Number of Loans Paid in Full                                                  25
Ending Scheduled Collateral Loan Count                                     2,180

Beginning Scheduled Collateral Balance                            811,778,788.81
Ending Scheduled Collateral Balance                               796,680,990.03
Ending Actual Collateral Balance at 27-Feb-2004                   796,682,981.00

Monthly P&I Constant                                                2,111,797.41
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realized Loss Amount                                                        0.00
Cumulative Realized Loss                                                    0.00

Class A Optimal Amount                                             16,871,906.97

Ending Scheduled Balance for Premium Loans                        796,680,990.03

Scheduled Principal                                                       307.09
Unscheduled Principal                                              15,097,491.69
</TABLE>

<PAGE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                  <C>
Pro Rata Senior Percent - Group 1                                     95.769125%
Pro Rata Senior Percent - Group 2                                     95.742588%

Senior Percent - Group 1                                             100.000000%
Senior Percent - Group 2                                             100.000000%

Senior Prepayment Percent - Group 1                                  100.000000%
Senior Prepayment Percent - Group 2                                  100.000000%

Subordinate Percent - Group 1                                          0.000000%
Subordinate Percent - Group 2                                          0.000000%

Subordinate Prepayment Percent - Group 1                               0.000000%
Subordinate Prepayment Percent - Group 2                               0.000000%

Principal Transfer Amount - Group 1                                        0.00
Principal Transfer Amount - Group 2                                        0.00

Interest Transfer Amount - Group 1                                         0.00
Interest Transfer Amount - Group 2                                         0.00
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
          GROUP                  1 MO. LIBOR - GR 1  6 MO LIBOR - GR 1  6 MO LIBOR - GR 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               2.867250           3.155141           3.147451         3.121279
Weighted Average Net Rate                  2.492250           2.779852           2.772293         2.746046
Pass-Through Rate                          2.484750           2.772352           2.764793         2.738546
Weighted Average Maturity                       315                333                330              330
Record Date                              02/27/2004         02/27/2004         02/27/2004       02/27/2004
Principal and Interest Constant          218,904.08       1,508,796.04         384,097.29     2,111,797.41
Beginning Loan Count                            199              1,617                389            2,205
Loans Paid in Full                                1                 21                  3               25
Ending Loan Count                               198              1,596                386            2,180
Beginning Scheduled Balance           91,570,229.33     573,767,272.37     146,441,287.11   811,778,788.81
Ending Scheduled Balance              90,884,173.42     561,876,240.71     143,920,575.90   796,680,990.03
Scheduled Principal                          108.48             198.61               0.00           307.09
Unscheduled Principal                    685,947.43      11,890,833.05       2,520,711.21    15,097,491.69
Scheduled Interest                       218,795.60       1,508,597.43         384,097.29     2,111,490.32
Servicing Fee                             28,615.69         179,440.84          45,782.17       253,838.70
Master Servicing Fee                         572.31           3,586.04             915.26         5,073.61
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                             189,607.60       1,325,570.55         337,399.86     1,852,578.01
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>