<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 2002-8
                         RECORD DATE: FEBRUARY 27, 2004
                        DISTRIBUTION DATE: MARCH 22, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                    Certificate  Certificate     Beginning
                        Class    Pass-Through   Certificate      Interest      Principal
Class      CUSIP    Description      Rate         Balance      Distribution  Distribution
------  ----------  -----------  ------------  --------------  ------------  ------------
<C>     <C>         <C>          <C>           <C>             <C>           <C>
1-A1     81743RAA0      SEN        1.22125%              0.00          0.00          0.00
1-A2     81743RAB8      SEN        3.45500%     28,543,169.05     82,180.54    951,313.25
 2A      81743RAC6      SEN        1.39125%    374,140,463.65    433,769.10  3,653,824.53
 3A      81743RAD4      SEN        2.97484%     35,612,614.63     88,284.82  1,168,503.87
 X-1     81743RAE2       IO        1.76663%              0.00     42,021.10          0.00
X-2A    81743RAFf9       IO        1.05074%              0.00    135,108.39          0.00
X-2B     81743AFG7       IO        1.17379%              0.00    215,039.22          0.00
 X-B     81743RAH5       IO        1.26808%              0.00      9,583.52          0.00
 A-R     81743RAJ1      SEN        5.37281%              0.00          0.00          0.00
 B-1     81743RAK8      SUB        1.76625%      9,069,000.00     13,348.43          0.00
 B-2     81743RAL6      SUB        3.03433%      5,505,000.00     13,919.99          0.00
 B-3     81743RAM4      SUB        3.03433%      3,886,000.00      9,826.17          0.00
 B-4     SMT0208B4      SUB        3.03433%      1,618,000.00      4,091.29          0.00
 B-5     SMT0208B5      SUB        3.03433%        970,000.00      2,452.75          0.00
 B-6     SMT0208B6      SUB        3.03433%      2,306,324.82      5,831.79          0.00
                                               --------------  ------------  ------------
Totals                                         461,650,572.15  1,055,457.11  5,773,641.65
                                               --------------  ------------  ------------
</TABLE>

<TABLE>
<CAPTION>
                     Current      Ending                    Cumulative
                    Realized    Certificate      Total       Realized
Class      CUSIP      Loss        Balance     Distribution     Loss
------  ----------  --------  --------------  ------------  --------------
<C>     <C>         <C>       <C>             <C>           <C>
1-A1     81743RAA0      0.00            0.00          0.00        0.00
1-A2     81743RAB8      0.00   27,591,855.80  1,033,493.79        0.00
 2A      81743RAC6      0.00  370,486,639.12  4,087,593.63        0.00
 3A      81743RAD4      0.00   34,444,110.76  1,256,788.69        0.00
 X-1     81743RAE2      0.00            0.00     42,021.10        0.00
X-2A    81743RAFf9      0.00            0.00    135,108.39        0.00
X-2B     81743AFG7      0.00            0.00    215,039.22        0.00
 X-B     81743RAH5      0.00            0.00      9,583.52        0.00
 A-R     81743RAJ1      0.00            0.00          0.00        0.00
 B-1     81743RAK8      0.00    9,069,000.00     13,348.43        0.00
 B-2     81743RAL6      0.00    5,505,000.00     13,919.99        0.00
 B-3     81743RAM4      0.00    3,886,000.00      9,826.17        0.00
 B-4     SMT0208B4      0.00    1,618,000.00      4,091.29        0.00
 B-5     SMT0208B5      0.00      970,000.00      2,452.75        0.00
 B-6     SMT0208B6      0.00    2,306,324.82      5,831.79        0.00
                        ----  --------------- ------------        ----
Totals                  0.00  455,876,930.50  6,829,098.76        0.00
                        ----  --------------  ------------        ----
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                          Beginning      Scheduled     Unscheduled
         Original Face   Certificate     Principal      Principal
Class       Amount         Balance      Distribution  Distribution  Accretion
------  --------------  --------------  ------------  ------------  ---------
<C>     <C>             <C>             <C>           <C>           <C>
1-A1     50,000,000.00            0.00      0.00              0.00     0.00
1-A2     61,468,000.00   28,543,169.05      0.00        951,313.25     0.00
 2A     463,097,000.00  374,140,463.65      0.00      3,653,824.53     0.00
 3A      49,973,000.00   35,612,614.63      0.00      1,168,503.87     0.00
 X-1              0.00            0.00      0.00              0.00     0.00
X-2A              0.00            0.00      0.00              0.00     0.00
X-2B              0.00            0.00      0.00              0.00     0.00
 X-B              0.00            0.00      0.00              0.00     0.00
 A-R            100.00            0.00      0.00              0.00     0.00
 B-1      9,069,000.00    9,069,000.00      0.00              0.00     0.00
 B-2      5,505,000.00    5,505,000.00      0.00              0.00     0.00
 B-3      3,886,000.00    3,886,000.00      0.00              0.00     0.00
 B-4      1,618,000.00    1,618,000.00      0.00              0.00     0.00
 B-5        970,000.00      970,000.00      0.00              0.00     0.00
 B-6      2,306,324.82    2,306,324.82      0.00              0.00     0.00
        --------------  --------------      ----      ------------     ----
Totals  647,892,424.82  461,650,572.15      0.00      5,773,641.65     0.00
        --------------  --------------      ----      ------------     ----
</TABLE>

<TABLE>
<CAPTION>
                                       Ending        Ending
        Realized  Total Principal   Certificate    Certificate  Total Principal
Class   Loss (1)     Reduction         Balance     Percentage    Distribution
------  --------  ---------------  --------------  -----------  ---------------
<C>     <C>       <C>              <C>             <C>          <C>
1-A1      0.00               0.00            0.00   0.00000000             0.00
1-A2      0.00         951,313.25   27,591,855.80   0.44888163       951,313.25
 2A       0.00       3,653,824.53  370,486,639.12   0.80001952     3,653,824.53
 3A       0.00       1,168,503.87   34,444,110.76   0.68925441     1,168,503.87
 X-1      0.00               0.00            0.00   0.00000000             0.00
X-2A      0.00               0.00            0.00   0.00000000             0.00
X-2B      0.00               0.00            0.00   0.00000000             0.00
 X-B      0.00               0.00            0.00   0.00000000             0.00
 A-R      0.00               0.00            0.00   0.00000000             0.00
 B-1      0.00               0.00    9,069,000.00   1.00000000             0.00
 B-2      0.00               0.00    5,505,000.00   1.00000000             0.00
 B-3      0.00               0.00    3,886,000.00   1.00000000             0.00
 B-4      0.00               0.00    1,618,000.00   1.00000000             0.00
 B-5      0.00               0.00      970,000.00   1.00000000             0.00
 B-6      0.00               0.00    2,306,324.82   1.00000000             0.00
          ----       ------------  --------------  -----------     ------------
Totals    0.00       5,773,641.65  455,876,930.50   0.70363059     5,773,641.65
          ----       ------------  --------------  -----------     ------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                         Beginning     Scheduled     Unscheduled
        Original Face   Certificate    Principal      Principal
Class      Amount         Balance     Distribution  Distribution  Accretion
-----  --------------  -------------  ------------  ------------  ----------
<C>    <C>             <C>            <C>           <C>           <C>
1-A1    50,000,000.00     0.00000000   0.00000000     0.00000000  0.00000000
1-A2    61,468,000.00   464.35818719   0.00000000    15.47656097  0.00000000
 2A    463,097,000.00   807.90949553   0.00000000     7.88997668  0.00000000
 3A     49,973,000.00   712.63711664   0.00000000    23.38270406  0.00000000
 X-1             0.00     0.00000000   0.00000000     0.00000000  0.00000000
X-2A             0.00     0.00000000   0.00000000     0.00000000  0.00000000
X-2B             0.00     0.00000000   0.00000000     0.00000000  0.00000000
 X-B             0.00     0.00000000   0.00000000     0.00000000  0.00000000
 A-R           100.00     0.00000000   0.00000000     0.00000000  0.00000000
 B-1     9,069,000.00  1000.00000000   0.00000000     0.00000000  0.00000000
 B-2     5,505,000.00  1000.00000000   0.00000000     0.00000000  0.00000000
 B-3     3,886,000.00  1000.00000000   0.00000000     0.00000000  0.00000000
 B-4     1,618,000.00  1000.00000000   0.00000000     0.00000000  0.00000000
 B-5       970,000.00  1000.00000000   0.00000000     0.00000000  0.00000000
 B-6     2,306,324.82  1000.00000000   0.00000000     0.00000000  0.00000000
</TABLE>

<TABLE>
<CAPTION>
                     Total         Ending        Ending
        Realized    Principal    Certificate   Certificate  Total Principal
Class   Loss (3)    Reduction      Balance     Percentage     Distribution
-----  ----------  -----------  -------------  -----------  ---------------
<C>    <C>         <C>          <C>            <C>          <C>
1-A1   0.00000000   0.00000000     0.00000000   0.00000000       0.00000000
1-A2   0.00000000  15.47656097   448.88162621   0.44888163      15.47656097
 2A    0.00000000   7.88997668   800.01951885   0.80001952       7.88997668
 3A    0.00000000  23.38270406   689.25441258   0.68925441      23.38270406
 X-1   0.00000000   0.00000000     0.00000000   0.00000000       0.00000000
X-2A   0.00000000   0.00000000     0.00000000   0.00000000       0.00000000
X-2B   0.00000000   0.00000000     0.00000000   0.00000000       0.00000000
 X-B   0.00000000   0.00000000     0.00000000   0.00000000       0.00000000
 A-R   0.00000000   0.00000000     0.00000000   0.00000000       0.00000000
 B-1   0.00000000   0.00000000  1000.00000000   1.00000000       0.00000000
 B-2   0.00000000   0.00000000  1000.00000000   1.00000000       0.00000000
 B-3   0.00000000   0.00000000  1000.00000000   1.00000000       0.00000000
 B-4   0.00000000   0.00000000  1000.00000000   1.00000000       0.00000000
 B-5   0.00000000   0.00000000  1000.00000000   1.00000000       0.00000000
 B-6   0.00000000   0.00000000  1000.00000000   1.00000000       0.00000000
</TABLE>

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

<PAGE>

                        INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                                     Payment of
                          Current       Beginning        Current       Unpaid
        Original Face   Certificate    Certificate/      Accrued      Interest
Class       Amount         Rate      Notional Balance    Interest    Shortfall
------  --------------  -----------  ----------------  ------------  ----------
<C>     <C>             <C>          <C>               <C>           <C>
1-A1     50,000,000.00    1.22125%               0.00          0.00     0.00
1-A2     61,468,000.00    3.45500%      28,543,169.05     82,180.54     0.00
 2A     463,097,000.00    1.39125%     374,140,463.65    433,769.10     0.00
 3A      49,973,000.00    2.97484%      35,612,614.63     88,284.82     0.00
 X-1              0.00    1.76663%      28,543,169.05     42,021.10     0.00
X-2A              0.00    1.05074%     154,300,346.81    135,108.39     0.00
X-2B              0.00    1.17379%     219,840,116.84    215,039.22     0.00
 X-B              0.00    1.26808%       9,069,000.00      9,583.52     0.00
 A-R            100.00    5.37281%               0.00          0.00     0.00
 B-1      9,069,000.00    1.76625%       9,069,000.00     13,348.43     0.00
 B-2      5,505,000.00    3.03433%       5,505,000.00     13,919.99     0.00
 B-3      3,886,000.00    3.03433%       3,886,000.00      9,826.17     0.00
 B-4      1,618,000.00    3.03433%       1,618,000.00      4,091.29     0.00
 B-5        970,000.00    3.03433%         970,000.00      2,452.75     0.00
 B-6      2,306,324.82    3.03433%       2,306,324.82      5,831.79     0.00
        --------------                                 ------------     ----
Totals  647,892,424.82                                 1,055,457.11     0.00
        --------------                                 ------------     ----
</TABLE>

<TABLE>
<CAPTION>
                                                            Remaining     Ending
        Current    Non-Supported                             Unpaid     Certificate/
        Interest     Interest     Realized  Total Interest   Interest    Notational
Class   Shortfall    Shortfall    Loss (4)   Distribution   Shortfall     Balance
------  ---------  -------------  --------  --------------  ---------  --------------
<C>     <C>        <C>            <C>       <C>             <C>        <C>
1-A1       0.00         0.00        0.00              0.00     0.00              0.00
1-A2       0.00         0.00        0.00         82,180.54     0.00     27,591,855.80
 2A        0.00         0.00        0.00        433,769.10     0.00    370,486,639.12
 3A        0.00         0.00        0.00         88,284.82     0.00     34,444,110.76
 X-1       0.00         0.00        0.00         42,021.10     0.00     27,591,855.80
X-2A       0.00         0.00        0.00        135,108.39     0.00    152,869,164.45
X-2B       0.00         0.00        0.00        215,039.22     0.00    217,617,474.67
 X-B       0.00         0.00        0.00          9,583.52     0.00      9,069,000.00
 A-R       0.00         0.00        0.00              0.00     0.00              0.00
 B-1       0.00         0.00        0.00         13,348.43     0.00      9,069,000.00
 B-2       0.00         0.00        0.00         13,919.99     0.00      5,505,000.00
 B-3       0.00         0.00        0.00          9,826.17     0.00      3,886,000.00
 B-4       0.00         0.00        0.00          4,091.29     0.00      1,618,000.00
 B-5       0.00         0.00        0.00          2,452.75     0.00        970,000.00
 B-6       0.00         0.00        0.00          5,831.79     0.00      2,306,324.82
           ----         ----        ----      ------------     ----
Totals     0.00         0.00        0.00      1,055,457.11     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
Class    Original Face  Certificate    Certificate/    Current Accrued   Interest    Interest
 (5)        Amount         Rate      Notional Balance      Interest      Shortfall   Shortfall
------  --------------  -----------  ----------------  ---------------  ----------  ----------
<S>     <C>             <C>          <C>               <C>              <C>         <C>
 1-A1    50,000,000.00    1.22125%         0.00000000       0.00000000  0.00000000  0.00000000
 1-A2    61,468,000.00    3.45500%       464.35818719       1.33696460  0.00000000  0.00000000
  2A    463,097,000.00    1.39125%       807.90949553       0.93667007  0.00000000  0.00000000
  3A     49,973,000.00    2.97484%       712.63711664       1.76665039  0.00000000  0.00000000
  X-1             0.00    1.76663%       256.06603734       0.37697904  0.00000000  0.00000000
 X-2A             0.00    1.05074%       819.15730277       0.71727009  0.00000000  0.00000000
 X-2B             0.00    1.17379%       800.19765943       0.78272284  0.00000000  0.00000000
  X-B             0.00    1.26808%      1000.00000000       1.05673393  0.00000000  0.00000000
  A-R           100.00    5.37281%         0.00000000       0.00000000  0.00000000  0.00000000
  B-1     9,069,000.00    1.76625%      1000.00000000       1.47187452  0.00000000  0.00000000
  B-2     5,505,000.00    3.03433%      1000.00000000       2.52860854  0.00000000  0.00000000
  B-3     3,886,000.00    3.03433%      1000.00000000       2.52860782  0.00000000  0.00000000
  B-4     1,618,000.00    3.03433%      1000.00000000       2.52860939  0.00000000  0.00000000
  B-5       970,000.00    3.03433%      1000.00000000       2.52860825  0.00000000  0.00000000
  B-6     2,306,324.82    3.03433%      1000.00000000       2.52860740  0.00000000  0.00000000
</TABLE>

<TABLE>
<CAPTION>
                                                   Remaining
        Non-Supported                               Unpaid
Class     Interest      Realized   Total Interest   Interest   Ending Certificate/
 (5)      Shortfall     Loss (6)    Distribution   Shortfall   Notational Balance
------  -------------  ----------  --------------  ----------  -------------------
<S>     <C>            <C>         <C>             <C>         <C>
 1-A1      0.00000000  0.00000000      0.00000000  0.00000000           0.00000000
 1-A2      0.00000000  0.00000000      1.33696460  0.00000000         448.88162621
  2A       0.00000000  0.00000000      0.93667007  0.00000000         800.01951885
  3A       0.00000000  0.00000000      1.76665039  0.00000000         689.25441258
  X-1      0.00000000  0.00000000      0.37697904  0.00000000         247.53163060
 X-2A      0.00000000  0.00000000      0.71727009  0.00000000         811.55937117
 X-2B      0.00000000  0.00000000      0.78272284  0.00000000         792.10744784
  X-B      0.00000000  0.00000000      1.05673393  0.00000000        1000.00000000
  A-R      0.00000000  0.00000000      0.00000000  0.00000000           0.00000000
  B-1      0.00000000  0.00000000      1.47187452  0.00000000        1000.00000000
  B-2      0.00000000  0.00000000      2.52860854  0.00000000        1000.00000000
  B-3      0.00000000  0.00000000      2.52860782  0.00000000        1000.00000000
  B-4      0.00000000  0.00000000      2.52860939  0.00000000        1000.00000000
  B-5      0.00000000  0.00000000      2.52860825  0.00000000        1000.00000000
  B-6      0.00000000  0.00000000      2.52860740  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.

                      CERTIFICATEHOLDER ACCOUNT STATEMENT

                              CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                              6,977,438.02
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                     520.86
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                         ------------
Total Deposits                                                           6,977,858.88

Withdrawals
         Reimbursement for Servicer Advances                                     0.00
         Payment of Service Fee                                            148,860.12
         Payment of Interest and Principal                               6,829,098.76
                                                                         ------------
Total Withdrawals (Pool Distribution Amount)                             6,977,958.88

Ending Balance                                                                   0.00
                                                                                 ====
</TABLE>

<PAGE>

                   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                                                    145,397.75
Master Servicing Fee                                                     3,462.37
Non-Supported Prepayment/Curtailment Interest Shortfall                      0.00
                                                                       ----------

Net Servicing Fee                                                      148,860.12
                                                                       ==========
</TABLE>

<TABLE>
<CAPTION>
                                   Beginning     Current      Current    Ending
          Account Type              Balance    Withdrawals   Deposits    Balance
--------------------------------   ---------   -----------   --------   --------
<S>                                <C>         <C>           <C>        <C>
Class X-1 Basis Risk Reserve Fund  2,500.00       0.00         0.00     2,500.00
Class X-2 Basis Risk Reserve Fund  5,000.00       0.00         0.00     5,000.00
Class X-B Basis Risk Reserve Fund  2,500.00       0.00         0.00     2,500.00
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
<TABLE>
<CAPTION>
           DELINQUENT                          BANKRUPTCY                        FORECLOSURE
----------------------------------  --------------------------------  ---------------------------------
             No. of     Principal                No. of    Principal               No. of     Principal
              Loans      Balance                 Loans      Balance                 Loans      Balance
<S>        <C>          <C>         <C>        <C>         <C>        <C>        <C>          <C>
0-29 Days       0             0.00  0-29 Days      0          0.00    0-29 Days      0          0.00
30 Days         1       208,344.32  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       208,344.32                 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     0.081967%   0.045702%   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%
            --------------------                -------------------               --------------------
            0.081967%   0.045702%               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        1      208,344.32
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      208,344.32

             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    0.081967%  0.045702%
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%             0.081967%  0.045702%
</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   520.86
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
               Original $      Original%      Current $      Current %    Current Class %   Prepayment %
             --------------  ------------  --------------  -------------  ---------------  -------------
<S>          <C>             <C>           <C>             <C>            <C>              <C>
Class A      647,892,324.82  99.99998457%  455,876,930.50  100.00000000%       94.877055%      0.000000%
Class 1-A-1  597,892.324.82  92.28265402%  455,876,930.50  100.00000000%        0.000000%      0.000000%
Class 1-A-2  536,424,324.82  82.79527654%  428,285,074.70   93.94752093%        6.052479%    118.144524%
Class 2A      73,327,324.82  11.31782407%   57,798,435.58   12.67851732%       81.269004%  1,586.372725%
Class 3A      23,354,324.82   3.60466089%   23,354,324.82    5.12294509%        7.555572%    147.484935%
Class X-1     23,354,324.82   3.60466089%   23,354,324.82    5.12294509%        0.000000%      0.000000%
Class X-2-A   23,354,324.82   3.60466089%   23,354,324.82    5.12294509%        0.000000%      0.000000%
Class X-2-B   23,354,324.82   3.60466089%   23,354,324.82    5.12294509%        0.000000%      0.000000%
Class B-1     14,285,324.82   2.20489147%   14,285,324.82    3.13359239%        1.989353%     38.832208%
Class B-2      8,780,324.82   1.35521338%    8,780,324.82    1.92602964%        1.207563%     23.571651%
Class B-3      4,894,324.82   0.75542245%    4,894,324.82    1.07360660%        0.852423%     16.639316%
Class B-4      3,276,324.82   0.50568963%    3,276,324.82    0.71868625%        0.354920%      6.928053%
Class B-5      2,306,324.82   0.35597342%    2,306,324.82    0.50590953%        0.212777%      4.153406%
Class B-6              0.00   0.00000000%            0.00    0.00000000%        0.505910%      9.875365%
</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       126,045.00      0.01945462%      126,045.00   0.02764891%
Fraud            19,436,773.00   3.00000004%   10,357,716.80   2.27240232%
Special Hazard   15,500,000.00   2.39237247%   15,499,500.00   3.39993076%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     GROUP 1

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

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

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

                                     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>

                                     Group 3

<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         1       208,344.32  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       208,344.32                 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     0.892857%   0.573308%   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%
            --------------------                -------------------               --------------------
            0.892857%   0.573308%              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        1      208,344.32
 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      208,344.32

             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    0.892857%   0.573308%
 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%             0.892857%   0.573308%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
           Collateral Description                      Mixed Arm
<S>                                                 <C>
Weighted Average Gross Coupon                            3.130464%
Weighted Average Net Coupon                              2.752522%
Weighted Average Pass-Through Rate                       2.743522%
Weighted Average Maturity (Stepdown Calculation)               312

Beginning Scheduled Collateral Loan Count                    1,230
Number of Loans Paid in Full                                    10
Ending Scheduled Collateral Loan Count                       1,220

Beginning Scheduled Collateral Balance              461,650,572.15
Ending Scheduled Collateral Balance                 455,876,930.50
Ending Actual Collateral Balance at 27-Feb-2004     455,873,418.06

Monthly P&I Constant                                  1,204,317.26
Special Servicing Fee                                         0.00
Prepayment Penalties                                          0.00
Realization Loss Amount                                       0.00
Cumulative Realized Loss                                      0.00

Class A Optimal Amount                                6,770,044.82

Ending Scheduled Balance for Premium Loans          455,876,930.50

Scheduled Principal                                           0.00
Unscheduled Principal                                 5,773,641.65
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                 <C>
One Month Libor Loan Balance                        160,005,002.73
Six Month Libor Loan Balance - POOL 1                31,755,138.69
Six Month Libor Loan Balance - POOL 2               227,775,724.13
Six Month Libor Loan Balance - POOL 3                36,341,064.95
Pro Rata Senior Percent                                 94.941125%
Senior Percentage                                      100.000000%
Senior Prepay Percentage                               100.000000%
Subordinate Percentage                                   0.000000%
Subordinate Prepayment Percentage                        0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
           GROUP                       1                2               3               TOTAL
Collateral Description                Mixed ARM        Mixed ARM       Mixed ARM        Mixed ARM
<S>                               <C>             <C>              <C>             <C>
Weighted Average Coupon Rate           5.480633         2.912211        3.358839         3.130464
Weighted Average Net Rate              5.230634         2.523297        2.983839         2.752522
Pass-Through Rate                      5.221633         2.514296        2.974839         2.743522
Weighted Average Maturity                   336              303             340              312
Record Date                          02/27/2004       02/27/2004      02/27/2004       02/27/2004
Principal and Interest Constant      149,376.73       949,950.04      104,990.49     1,204,317.26
Beginning Loan Count                         67            1,049             114            1,230
Loans Paid in Full                            2                7               2               10
Ending Loan Count                            65            1,043             112            1,220
Beginning Scheduled Balance       32,706,451.94   391,434,551.39   37,509,568.82   461,650,572.15
Ending Scheduled Balance          31,755,138.69   387,780,726.86   36,341,064.95   455,876,930.50
Scheduled Principal                        0.00             0.00            0.00             0.00
Unscheduled Principal                951,313.25     3,653,824.53    1,168,503.87     5,773,641.65
Scheduled Interest                   149,376.73       949,950.04      104,990.49     1,204,317.26
Servicing Fee                          6,813.84       126,862.17       11,721.74       145,397.75
Master Servicing Fee                     245.30         2,935.75          281.32         3,462.37
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                         142,317.59       820,152.12       92,987.43     1,055,457.14
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>