<PAGE>

                                  EXHIBIT 10.1

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

                               SMT SERIES 2002-10
                         RECORD DATE: FEBRUARY 27, 2004
                        DISTRIBUTION DATE: MARCH 22, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate  Certificate
                      Class     Pass-Through        Beginning         Interest      Principal
Class     CUSIP    Description      Rate       Certificate Balance  Distribution  Distribution
------  ---------  -----------  ------------   -------------------  ------------  ------------
<S>     <C>        <C>          <C>            <C>                  <C>           <C>
 1A     81743VAA1      SEN         1.49125%       705,567,686.23      876,814.85  7,407,415.21
 2A-1   81743VAB9      SEN         1.47125%       161,582,115.52      198,106.41  1,037,251.81
 2A-2   81743VAN3      SEN         1.77125%         3,500,000.00        5,166.15          0.00
 X-1A   81743VAC7      IO          1.14345%                 0.00      316,012.94          0.00
 X-1B   81743VAD5      IO          1.28885%                 0.00      401,613.55          0.00
 X-2    81743VAP8      IO          1.30393%                 0.00      179,379.50          0.00
 X-B    81743VAE3      IO          0.72360%                 0.00       15,512.16          0.00
 A-R    81743VAF0      SEN         3.37721%                 0.00            0.00          0.00
 B-1    81743VAG8      SUB         1.89125%        12,600,000.00       19,858.13          0.00
 B-2    81743VAH6      SUB         1.89125%         8,400,000.00       13,238.75          0.00
 B-3    81743VAJ2      SUB         2.49125%         4,725,000.00        9,809.30          0.00
 B-4    SMT0210B4      SUB         2.72505%         2,625,000.00        5,961.05          0.00
 B-5    SMT0210B5      SUB         2.72505%         2,100,000.00        4,768.84          0.00
 B-6    SMT0210B6      SUB         2.72505%         3,685,162.00        8,368.55          0.00
        ---------      ---         -------        --------------    ------------  ------------
Totals                                            904,784,963.75    2,054,610.18  8,444,667.02
        ---------      ---         -------        --------------    ------------  ------------
</TABLE>

<TABLE>
<CAPTION>

                       Current    Ending Certificate      Total        Cumulative
Class     CUSIP    Realized Loss       Balance         Distribution   Realized Loss
------  ---------  -------------  ------------------  --------------  -------------
<S>     <C>        <C>            <C>                 <C>             <C>
 1A     81743VAA1      0.00         698,160,271.02     8,284,230.06       0.00
 2A-1   81743VAB9      0.00         160,544,863.71     1,235,358.22       0.00
 2A-2   81743VAN3      0.00           3,500,000.00         5,166.15       0.00
 X-1A   81743VAC7      0.00                   0.00       316,012.94       0.00
 X-1B   81743VAD5      0.00                   0.00       401,613.55       0.00
 X-2    81743VAP8      0.00                   0.00       179,379.50       0.00
 X-B    81743VAE3      0.00                   0.00        15,512.16       0.00
 A-R    81743VAF0      0.00                   0.00             0.00       0.00
 B-1    81743VAG8      0.00          12,600,000.00        19,858.13       0.00
 B-2    81743VAH6      0.00           8,400,000.00        13,238.75       0.00
 B-3    81743VAJ2      0.00           4,725,000.00         9,809.30       0.00
 B-4    SMT0210B4      0.00           2,625,000.00         5,961.05       0.00
 B-5    SMT0210B5      0.00           2,100,000.00         4,768.84       0.00
 B-6    SMT0210B6      0.00           3,685,162.00         8,368.55       0.00
        ---------      ----         --------------    -------------       ----
Totals                 0.00         896,340,296.73    10,499,277.20       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>
 1A         822,375,000.00     705,567,686.23            0.00     7,407,415.21         0.00          0.00
2A-1        190,000,000.00     161,582,115.52            0.00     1,037,251.81         0.00          0.00
2A-2          3,500,000.00       3,500,000.00            0.00             0.00         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          12,600,000.00      12,600,000.00            0.00             0.00         0.00          0.00
B-2           8,400,000.00       8,400,000.00            0.00             0.00         0.00          0.00
B-3           4,725,000.00       4,725,000.00            0.00             0.00         0.00          0.00
B-4           2,625,000.00       2,625,000.00            0.00             0.00         0.00          0.00
B-5           2,100,000.00       2,100,000.00            0.00             0.00         0.00          0.00
B-6           3,685,162.00       3,685,162.00            0.00             0.00         0.00          0.00
          ----------------     --------------    ------------    -------------    ---------     ---------
Totals    1,050,010,262.00     904,784,963.75            0.00     8,444,667.02         0.00          0.00
          ----------------     --------------    ------------    -------------    ---------     ---------
</TABLE>

<TABLE>
<CAPTION>

              Total Principal   Ending Certificate  Ending Certificate  Total Principal
Class           Reduction            Balance             Percentage      Distribution
------        ---------------   ------------------  ------------------  ---------------
<S>           <C>               <C>                 <C>                 <C>
 1A              7,407,415.21       698,160,271.02          0.84895610     7,407,415.21
2A-1             1,037,251.81       160,544,863.71          0.84497297     1,037,251.81
2A-2                     0.00         3,500,000.00          1.00000000             0.00
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        12,600,000.00          1.00000000             0.00
B-2                      0.00         8,400,000.00          1.00000000             0.00
B-3                      0.00         4,725,000.00          1.00000000             0.00
B-4                      0.00         2,625,000.00          1.00000000             0.00
B-5                      0.00         2,100,000.00          1.00000000             0.00
B-6                      0.00         3,685,162.00          1.00000000             0.00
              ---------------   ------------------  ------------------  ---------------
Totals           8,444,667.02       896,340,296.73          0.85364908     8,444,667.02
              ---------------   ------------------  ------------------  ---------------
</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.

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                   Scheduled       Unscheduled
            Original Face         Beginning        Principal        Principal                     Realized
Class          Amount        Certificate Balance  Distribution     Distribution    Accretion       Loss (3)
------    ----------------   -------------------  ------------     ------------    ----------    ----------
<S>       <C>                <C>                  <C>              <C>             <C>           <C>
 1A         822,375,000.00          857.96344275    0.00000000       9.00734484    0.00000000    0.00000000
2A-1        190,000,000.00          850.43218695    0.00000000       5.45922005    0.00000000    0.00000000
2A-2          3,500,000.00         1000.00000000    0.00000000       0.00000000    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          12,600,000.00         1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000
B-2           8,400,000.00         1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000
B-3           4,725,000.00         1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000
B-4           2,625,000.00         1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000
B-5           2,100,000.00         1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000
B-6           3,685,162.00         1000.00000000    0.00000000       0.00000000    0.00000000    0.00000000
</TABLE>

<TABLE>
<CAPTION>
                                 Ending
           Total Principal     Certificate   Ending Certificate   Total Principal
Class        Reduction           Balance         Percentage         Distribution
------     ---------------    -------------  ------------------   ----------------
<S>        <C>                <C>            <C>                  <C>
 1A             9.00734484     848.95609791          0.84895610         9.00734484
2A-1            5.45922005     844.97296689          0.84497297         5.45922005
2A-2            0.00000000    1000.00000000          1.00000000         0.00000000
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>

<TABLE>
<CAPTION>
                                                Beginning                      Payment of
                               Current         Certificate/         Current        Unpaid    Current
             Original Face   Certificate         Notional           Accrued      Interest    Interest
Class           Amount          Rate             Balance           Interest     Shortfall   Shortfall
------       --------------  -----------      --------------     ------------  ----------   ---------
<S>          <C>             <C>              <C>                <C>           <C>          <C>
1A           822,375,000.00      1.49125%     705,567,686.23       876,814.84        0.00        0.00
2A-1         190,000,000.00      1.47125%     161,582,115.52       198,106.41        0.00        0.00
2A-2           3,500,000.00      1.77125%       3,500,000.00         5,166.15        0.00        0.00
X-1A                   0.00      1.14345%     331,640,667.97       316,012.94        0.00        0.00
X-1B                   0.00      1.28885%     373,927,018.26       401,613.55        0.00        0.00
X-2                    0.00      1.30393%     165,082,115.52       179,379.50        0.00        0.00
X-B                    0.00      0.72360%      25,725,000.00        15,512.16        0.00        0.00
A-R                  100.00      3.37721%               0.00             0.00        0.00        0.00
B-1           12,600,000.00      1.89125%      12,600,000.00        19,858.13        0.00        0.00
B-2            8,400,000.00      1.89125%       8,400,000.00        13,238.75        0.00        0.00
B-3            4,725,000.00      2.49125%       4,725,000.00         9,809.30        0.00        0.00
B-4            2,625,000.00      2.72505%       2,625,000.00         5,961.05        0.00        0.00
B-5            2,100,000.00      2.72505%       2,100,000.00         4,768.84        0.00        0.00
B-6            3,685,162.00      2.72505%       3,685,162.00         8,368.55        0.00        0.00
------     ----------------  -----------      --------------     ------------  ----------   ---------
Totals     1,050,010,262.00                                      2,054,610.17        0.00        0.00
------     ----------------  -----------      --------------     ------------  ----------   ---------
</TABLE>

<TABLE>
<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>
1A               0.00      0.00        876,814.85       0.00        698,160,271.02
2A-1             0.00      0.00        198,106.41       0.00        160,544,863.71
2A-2             0.00      0.00          5,166.15       0.00          3,500,000.00
X-1A             0.00      0.00        316,012.94       0.00        328,582,389.78
X-1B             0.00      0.00        401,613.55       0.00        369,577,881.23
X-2              0.00      0.00        179,379.50       0.00        164,044,863.71
X-B              0.00      0.00         15,512.16       0.00         25,725,000.00
A-R              0.00      0.00              0.00       0.00                  0.00
B-1              0.00      0.00         19,858.13       0.00         12,600,000.00
B-2              0.00      0.00         13,238.75       0.00          8,400,000.00
B-3              0.00      0.00          9,809.30       0.00          4,725,000.00
B-4              0.00      0.00          5,961.05       0.00          2,625,000.00
B-5              0.00      0.00          4,768.84       0.00          2,100,000.00
B-6              0.00      0.00          8,368.55       0.00          3,685,162.00
------      ---------  --------    --------------  ---------       ---------------
Totals           0.00      0.00      2,054,610.18       0.00
------      ---------  --------    --------------  ---------       ---------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                Beginning                   Payment of
                               Current        Certificate/      Current       Unpaid         Current
            Original Face    Certificate        Notional       Accrued       Interest        Interest
Class(5)       Amount           Rate             Balance       Interest      Shortfall      Shortfall
--------   --------------    -----------     --------------   ----------    ----------      ----------
<S>        <C>               <C>             <C>              <C>          <C>              <C>
 1A        822,375,000.00        1.49125%      857.96344275   1.06619832    0.00000000      0.00000000
2A-1       190,000,000.00        1.47125%      850.43218695   1.04266532    0.00000000      0.00000000
2A-2         3,500,000.00        1.77125%     1000.00000000   1.47604286    0.00000000      0.00000000
X-1A                 0.00        1.14345%      843.95571244   0.80418643    0.00000000      0.00000000
X-1B                 0.00        1.28885%      870.78198038   0.93525695    0.00000000      0.00000000
 X-2                 0.00        1.30393%      853.13754791   0.92702584    0.00000000      0.00000000
 X-B                 0.00        0.72360%     1000.00000000   0.60299942    0.00000000      0.00000000
 A-R               100.00        3.37721%        0.00000000   0.00000000    0.00000000      0.00000000
 B-1        12,600,000.00        1.89125%     1000.00000000   1.57604206    0.00000000      0.00000000
 B-2         8,400,000.00        1.89125%     1000.00000000   1.57604167    0.00000000      0.00000000
 B-3         4,725,000.00        2.49125%     1000.00000000   2.07604233    0.00000000      0.00000000
 B-4         2,625,000.00        2.72505%     1000.00000000   2.27087619    0.00000000      0.00000000
 B-5         2,100,000.00        2.72505%     1000.00000000   2.27087619    0.00000000      0.00000000
 B-6         3,685,162.00        2.72505%     1000.00000000   2.27087710    0.00000000      0.00000000
</TABLE>

<TABLE>
<CAPTION>
                 Non-                                         Remaining
              Supported                                        Unpaid
               Interest       Realized     Total Interest      Interest    Ending Certificate/
Class(5)      Shortfall        Loss (6)     Distribution      Shortfall    Notational Balance
--------      ----------     ----------    --------------     ----------   -------------------
<S>           <C>            <C>           <C>                <C>          <C>
 1A           0.00000000     0.00000000        1.06619833     0.00000000          848.95609791
2A-1          0.00000000     0.00000000        1.04266532     0.00000000          844.97296689
2A-2          0.00000000     0.00000000        1.47604286     0.00000000         1000.00000000
X-1A          0.00000000     0.00000000        0.80418643     0.00000000          836.17303801
X-1B          0.00000000     0.00000000        0.93525695     0.00000000          860.65393407
 X-2          0.00000000     0.00000000        0.92702584     0.00000000          847.77707344
 X-B          0.00000000     0.00000000        0.60299942     0.00000000         1000.00000000
 A-R          0.00000000     0.00000000        0.00000000     0.00000000            0.00000000
 B-1          0.00000000     0.00000000        1.57604206     0.00000000         1000.00000000
 B-2          0.00000000     0.00000000        1.57604167     0.00000000         1000.00000000
 B-3          0.00000000     0.00000000        2.07604233     0.00000000         1000.00000000
 B-4          0.00000000     0.00000000        2.27087619     0.00000000         1000.00000000
 B-5          0.00000000     0.00000000        2.27087619     0.00000000         1000.00000000
 B-6          0.00000000     0.00000000        2.27087710     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                             10,688,374.89
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                     421.82
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          10,688,796.71

Withdrawals

         Reimbursement for Servicer Advances                                 1,022.65
         Payment of Service Fee                                            188,496.86
         Payment of Interest and Principal                              10,499,277.20
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            10,688,796.71

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                                                     188,496.86
Supported Prepayment/Curtailment Interest Shortfall                           0.00
                                                                        ----------

Net Servicing Fee                                                       188,496.86
                                                                        ==========
</TABLE>

<PAGE>

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

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
            DELINQUENT                           BANKRUPTCY                           FORECLOSURE
-----------------------------------   -------------------------------    ---------------------------------
              No. of      Principal              No. of     Principal                 No. of     Principal
              Loans        Balance               Loans       Balance                  Loans       Balance
              ------      ---------              -------    ---------                --------   ----------
<S>           <C>         <C>        <C>        <C>         <C>          <C>         <C>        <C>
0-29 Days       0           0.00     0-29 Days     0             0.00    0-29 Days      0             0.00
30 Days         0           0.00     30 Days       0             0.00    30 Days        0             0.00
60 Days         0           0.00     60 Days       0             0.00    60 Days        0             0.00
90 Days         0           0.00     90 Days       0             0.00    90 Days        0             0.00
120 Days        0           0.00     120 Days      0             0.00    120 Days       1       202,471.80
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                   1       202,471.80

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

0-29 Days     0.000000%   0.000000%  0-29 Days  0.000000%    0.000000%   0-29 Days   0.000000%    0.000000%
30 Days       0.000000%   0.000000%  30 Days    0.000000%    0.000000%   30 Days     0.000000%    0.000000%
60 Days       0.000000%   0.000000%  60 Days    0.000000%    0.000000%   60 Days     0.000000%    0.000000%
90 Days       0.000000%   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    0.041615%    0.022589%
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%               0.041615%    0.022589%

<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          1         202,471.80
150 Days        0            0.00       150 Days          0               0.00
180+ Days       0            0.00       180+ Days         0               0.00
             ----            ----                      ----         ----------
                0            0.00                         1         202,471.80

              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       0.041615%     0.022589%
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%                    0.041615%     0.022589%
</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  421.82
</TABLE>

<PAGE>

Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage

<TABLE>
<CAPTION>
                Original $       Original%      Current $      Current%     Current Class%   Prepayment%
             ----------------   -----------  --------------  ------------   -------------    ------------
<S>          <C>                <C>          <C>             <C>            <C>              <C>
  Class A    1,050,010,162.00   99.99999048% 896,340,296.73  100.00000000%      96.191718%       0.000000%
  Class 1A     227,635,162.00   21.67932736% 198,180,025.71   22.10990920%      77.890091%   2,045.281845%
Class 2-A-1     37,635,162.00    3.58426611%  37,635,162.00    4.19875823%      17.911151%     470.321083%
Class 2-A-2     34,135,162.00    3.25093604%  34,135,162.00    3.80828153%       0.390477%      10.253357%
Class X-1-A     34,135,162.00    3.25093604%  34,136,162.00    3.80828153%       0.000000%       0.000000%
Class X-1-B     34,135,162.00    3.25093604%  34,13,5162.00    3.80828153%       0.000000%       0.000000%
 Class X-2      34,135,162.00    3.25093604%  34,135,162.00    3.80828153%       0.000000%       0.000000%
 Class B-1      21,535,162.00    2.05094776%  21,535,162.00    2.40256542%       1.405716%      36.912085%
 Class B-2      13,135,162.00    1.25095558%  13,135,162.00    1.46542134%       0.937144%      24.608057%
 Class B-3       8,410,162.00    0.80095998%   8,410,162.00    0.93827780%       0.527144%      13.842032%
 Class B-4       5,785,162.00    0.55096242%   5,785,162.00    0.64542027%       0.292858%       7.690018%
 Class B-5       3,685,162.00    0.35096438%   3,685,162.00    0.41113425%       0.234286%       6.152014%
 Class B-6               0.00    0.00000000%           0.00    0.00000000%       0.411134%      10.795795%
 </TABLE>

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

<TABLE>
<CAPTION>
                    Original $          Original%          Current $            Current%
<S>               <C>                  <C>               <C>                   <C>
    Bankruptcy       163,046.00        0.01552804%          163,046.00         0.01819019%
         Fraud    31,500,308.00        3.00000001%       18,795,490.62         2.09691461%
Special Hazard    11,240,000.00        1.07046573%       10,511,415.24         1.17270363%
</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         1       202,471.80
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                      1       202,471.80

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

0-29 Days    0.000000%   0.000000%   0-29 Days  0.000000%   0.000000%   0-29 Days    0.000000%     0.000000%
30 Days      0.000000%   0.000000%   30 Days    0.000000%   0.000000%   30 Days      0.000000%     0.000000%
60 Days      0.000000%   0.000000%   60 Days    0.000000%   0.000000%   60 Days      0.000000%     0.000000%
90 Days      0.000000%   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     0.052687%     0.027897%
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%                0.052687%     0.027897%

</TABLE>

<TABLE>
<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       1         202,471.80
150 Days         0         0.00      150 Days       0               0.00
180+ Days        0         0.00      180+Days       0               0.00
             --------    --------                --------     ----------
                 0         0.00                     1         202,471.80

              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    0.052687%      0.027897%
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%               0.052687%      0.027897%

</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%

</TABLE>

<TABLE>
<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                                      2.974992%
Weighted Average Net Coupon                                        2.724992%
Weighted Average Pass-Through Rate                                 2.724992%
Weighted Average Maturity (Stepdown Calculation)                        281

Beginning Scheduled Collateral Loan Count                             2,428
Number of Loans Paid in Full                                             25
Ending Scheduled Collateral Loan Count                                2,403

Beginning Scheduled Collateral Balance                       904,784,963.75
Ending Scheduled Collateral Balance                          896,340,296.72
Ending Actual Collateral Balance at Feb-27-2004              896,340,298.27

Monthly P&I Constant                                           2,243,107.03
Special Servicing Fee                                                  0.00
Prepayment Penalties                                                   0.00
Realization Loss Amount                                                0.00
Cumulative Realized Loss                                               0.00

Class A Optimal Amount                                        10,421,760.41

Ending Scheduled Balance for Premium Loans                   896,340.296.72

Scheduled Principal                                                    0.00
Unscheduled Principal                                          8,444,667.02
</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                     2.961759           3.031540                 2.974992
Weighted Average Net Rate                        2.711759           2.781540                 2.724992
Pass-Through Rate                                2.711759           2.781540                 2.724992
Weighted Average Maturity                             281                281                      281
Record Date                                    02/27/2004         02/27/2004               02/27/2004
Principal and Interest Constant              1,809,634.04         433,472.99             2,243,107.03
Beginning Loan Count                                1,920                508                    2,428
Loans Paid in Full                                     22                  3                       25
Ending Loan Count                                   1,898                505                    2,403
Beginning Scheduled Balance                733,199,683.23     171,585,280.52           904,784,963.75
Ending Scheduled Balance                   725,792,268.01     170,548,028.71           896,340,296.72
Scheduled Principal                                  0.01               0.00                     0.01
Unscheduled Principal                        7,407,415.21       1,037,251.81             8,444,667.02
Scheduled Interest                           1,809,634.03         433,472.99             2,243,107.02
Servicing Fee                                  152,749.93          35,746.93               188,496.86
Master Servicing Fee                                 0.00               0.00                     0.00
Trustee Fee                                          0.00               0.00                     0.00
FRY Amount                                           0.00               0.00                     0.00
Special Hazard Fee                                   0.00               0.00                     0.00
Other Fee                                            0.00               0.00                     0.00
Pool Insurance Fee                                   0.00               0.00                     0.00
Spread 1                                             0.00               0.00                     0.00
Spread 2                                             0.00               0.00                     0.00
Spread 3                                             0.00               0.00                     0.00
Net Interest                                 1,656,884.10          397,726.06            2,054,610.16
Realized Loss Amount                                 0.00               0.00                     0.00
Cumulative Realized Loss                             0.00               0.00                     0.00
Percentage of Cumulative Losses                      0.00               0.00                     0.00
Prepayment Penalties                                 0.00               0.00                     0.00
Special Servicing Fee                                0.00               0.00                     0.00
</TABLE>

<PAGE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                              <C>
Group 1

One Month LIBOR Loans                                            341,587,122.34
Six Month LIBOR Loans                                            384,205,145.67
Pro Rata Senior Percentage                                            96.231314%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%

Group 2

Pro Rata Senior Percentage                                            96.209952%
Senior Percentage                                                    100.000000%
Senior Prepayment Percentage                                         100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
</TABLE>