<PAGE>

                                  EXHIBIT 10.1

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

                               SMT SERIES 2003-4
                         RECORD DATE: FEBRUARY 27, 2004
                       DISTRIBUTION DATE: MARCH 22, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                     Certificate                         Beginning
                       Class       Certificate Pass-    Certificate        Interest        Principal
Class      CUSIP     Description     Through Rate         Balance        Distribution    Distribution
-----------------------------------------------------------------------------------------------------
<S>      <C>         <C>           <C>                 <C>               <C>             <C>
 1-A-1   81743PBH8        SEN            1.40125%      140,799,076.96       164,412.26     502,932.74
 1-A-2   81743PBJ4        SEN            1.50000%      145,819,806.12       182,274.76     308,267.64
1-X-1A   81743PBM7         IO            0.91429%                0.00        50,810.42           0.00
1-X-1B   81743PBN5         IO            1.13960%                0.00        70,380.68           0.00
 1-X-2   81743PBP0         IO            1.03780%                0.00       126,109.21           0.00
 1-X-B   81743PBQ8         IO            0.74560%                0.00         2,400.83           0.00
 1-A-R   81743PBL9         R             2.36081%                0.00             0.00           0.00
 1-B-1   81743PBK1        SUB            1.74125%        3,864,000.00         5,606.83           0.00
 1-B-2   81743PBR6        SUB            2.48620%        2,628,000.00         5,444.78           0.00
 1-B-3   81743PBS4        SUB            2.48620%        1,546,000.00         3,203.05           0.00
 1-B-4   81743PBT2        SUB            2.48620%          773,000.00         1,601.53           0.00
 1-B-5   81743PBU9        SUB            2.48620%          464,000.00           961.33           0.00
 1-B-6   81743PBV7        SUB            2.48620%        1,236,668.87         2,562.17           0.00
 2-A-1   81743PBW5        SEN            1.44125%      179,490,514.70        215,575.9      54,719.00
 2-M-1   81743PBX3        MEZ            1.56125%        9,986,000.00        12,992.20           0.00
 2-X-1   81743PCA2         IO            0.92506%                0.00       138,366.84           0.00
 2-X-M   81743PCB0         IO            0.80506%                0.00         6,699.47           0.00
 2-X-B   81743PCC8         IO            0.62506%                0.00         1,232.94           0.00
 2-A-R   81743PBZ8         R             2.31261%                0.00             0.00           0.00
 2-B-1   81743PBY1        SUB            1.74125%        2,367,000.00         3,434.62           0.00
 2-B-2   81743PCD6        SUB            2.36631%          824,000.00         1,624.87           0.00
 2-B-3   81743PCE4        SUB            2.36631%        1,235,000.00         2,435.33           0.00
 2-B-4   81743PCF1        SUB            2.36631%          618,000.00         1,218.65           0.00
 2-B-5   81743PCG9        SUB            2.36631%          515,000.00         1,015.54           0.00
 2-B-6   81743PCH7        SUB            2.36631%          926,589.00         1,827.16           0.00
-----------------------------------------------------------------------------------------------------
Totals                                                 493,092,655.65     1,002,191.06     865,919.38
-----------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
              Current      Ending Certificate      Total        Cumulative
Class      Realized Loss        Balance         Distribution   Realized Loss
----------------------------------------------------------------------------
<S>        <C>             <C>                  <C>            <C>
 1-A-1           0.00      140,296,144.22         667,345.00        0.00
 1-A-2           0.00      145,511,538.48         490,542.40        0.00
1-X-1A           0.00                0.00          50,810.42        0.00
1-X-1B           0.00                0.00          70,380.68        0.00
 1-X-2           0.00                0.00         126,109.21        0.00
 1-X-B           0.00                0.00           2,400.83        0.00
 1-A-R           0.00                0.00               0.00        0.00
 1-B-1           0.00        3,864,000.00           5,606.83        0.00
 1-B-2           0.00        2,628,000.00           5,444.78        0.00
 1-B-3           0.00        1,546,000.00           3,203.05        0.00
 1-B-4           0.00          773,000.00           1,601.53        0.00
 1-B-5           0.00          464,000.00             961.33        0.00
 1-B-6           0.00        1,236,668.87           2,562.17        0.00
 2-A-1           0.00      179,435,795.70         270,294.59        0.00
 2-M-1           0.00        9,986,000.00          12,992.20        0.00
 2-X-1           0.00                0.00         138,366.84        0.00
 2-X-M           0.00                0.00           6,699.47        0.00
 2-X-B           0.00                0.00           1,232.94        0.00
 2-A-R           0.00                0.00               0.00        0.00
 2-B-1           0.00        2,367,000.00           3,434.62        0.00
 2-B-2           0.00          824,000.00           1,624.87        0.00
 2-B-3           0.00        1,235,000.00           2,435.33        0.00
 2-B-4           0.00          618,000.00           1,218.65        0.00
 2-B-5           0.00          515,000.00           1,015.54        0.00
 2-B-6           0.00          926,589.00           1,827.16        0.00
------------------------------------------------------------------------
Totals           0.00      492,226,736.27       1,868,110.44        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
----------------------------------------------------------------------------------
<S>      <C>              <C>              <C>            <C>            <C>
 1-A-1   148,641,000.00   140,799,076.96        0.00       502,932.74       0.00
 1-A-2   150,000,000.00   145,819,806.12        0.00       308,267.64       0.00
1-X-1A             0.00             0.00        0.00             0.00       0.00
1-X-1B             0.00             0.00        0.00             0.00       0.00
 1-X-2             0.00             0.00        0.00             0.00       0.00
 1-X-B             0.00             0.00        0.00             0.00       0.00
 1-A-R           100.00             0.00        0.00             0.00       0.00
 1-B-1     3,864,000.00     3,864,000.00        0.00             0.00       0.00
 1-B-2     2,628,000.00     2,628,000.00        0.00             0.00       0.00
 1-B-3     1,546,000.00     1,546,000.00        0.00             0.00       0.00
 1-B-4       773,000.00       773,000.00        0.00             0.00       0.00
 1-B-5       464,000.00       464,000.00        0.00             0.00       0.00
 1-B-6     1,236,668.87     1,236,668.87        0.00             0.00       0.00
 2-A-1   189,415,000.00   179,490,514.70    9,501.69        45,217.31       0.00
 2-M-1     9,986,000.00     9,986,000.00        0.00             0.00       0.00
 2-X-1             0.00             0.00        0.00             0.00       0.00
 2-X-M             0.00             0.00        0.00             0.00       0.00
 2-X-B             0.00             0.00        0.00             0.00       0.00
 2-A-R           100.00             0.00        0.00             0.00       0.00
 2-B-1     2,367,000.00     2,367,000.00        0.00             0.00       0.00
 2-B-2       824,000.00       824,000.00        0.00             0.00       0.00
 2-B-3     1,235,000.00     1,235,000.00        0.00             0.00       0.00
 2-B-4       618,000.00       618,000.00        0.00             0.00       0.00
 2-B-5       515,000.00       515,000.00        0.00             0.00       0.00
 2-B-6       926,589.00       926,589.00        0.00             0.00       0.00
----------------------------------------------------------------------------------
Totals   515,039,457.87   493,092,655.65    9,501.69       856,417.69       0.00
----------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
            Realized   Total Principal   Ending Certificate   Ending Certificate   Total Principal
Class       Loss (1)      Reduction           Balance             Percentage        Distribution
--------------------------------------------------------------------------------------------------
<S>         <C>        <C>               <C>                  <C>                  <C>
 1-A-1        0.00       502,932.74       140,296,144.22          0.94385899          502,932.74
 1-A-2        0.00       308,267.64       145,511,538.48          0.97007692          308,267.64
1-X-1A        0.00             0.00                 0.00          0.00000000                0.00
1-X-1B        0.00             0.00                 0.00          0.00000000                0.00
 1-X-2        0.00             0.00                 0.00          0.00000000                0.00
 1-X-B        0.00             0.00                 0.00          0.00000000                0.00
 1-A-R        0.00             0.00                 0.00          0.00000000                0.00
 1-B-1        0.00             0.00         3,864,000.00          1.00000000                0.00
 1-B-2        0.00             0.00         2,628,000.00          1.00000000                0.00
 1-B-3        0.00             0.00         1,546,000.00          1.00000000                0.00
 1-B-4        0.00             0.00           773,000.00          1.00000000                0.00
 1-B-5        0.00             0.00           464,000.00          1.00000000                0.00
 1-B-6        0.00             0.00         1,236,668.87          1.00000000                0.00
 2-A-1        0.00        54,719.00       179,435,795.70          0.94731566           54,719.00
 2-M-1        0.00             0.00         9,986,000.00          1.00000000                0.00
 2-X-1        0.00             0.00                 0.00          0.00000000                0.00
 2-X-M        0.00             0.00                 0.00          0.00000000                0.00
 2-X-B        0.00             0.00                 0.00          0.00000000                0.00
 2-A-R        0.00             0.00                 0.00          0.00000000                0.00
 2-B-1        0.00             0.00         2,367,000.00          1.00000000                0.00
 2-B-2        0.00             0.00           824,000.00          1.00000000                0.00
 2-B-3        0.00             0.00         1,235,000.00          1.00000000                0.00
 2-B-4        0.00             0.00           618,000.00          1.00000000                0.00
 2-B-5        0.00             0.00           515,000.00          1.00000000                0.00
 2-B-6        0.00             0.00           926,589.00          1.00000000                0.00
------------------------------------------------------------------------------------------------
Totals        0.00       865,919.38       492,226,736.27          0.95570685          865,919.38
------------------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                            Beginning      Scheduled     Unscheduled
          Original Face    Certificate     Principal      Principal
Class        Amount          Balance      Distribution   Distribution   Accretion
---------------------------------------------------------------------------------
<S>      <C>              <C>             <C>            <C>            <C>
 1-A-1   148,641,000.00    947.24253039    0.00000000     3.38353980    0.00000000
 1-A-2   150,000,000.00    972.13204080    0.00000000     2.05511760    0.00000000
1-X-1A             0.00      0.00000000    0.00000000     0.00000000    0.00000000
1-X-1B             0.00      0.00000000    0.00000000     0.00000000    0.00000000
 1-X-2             0.00      0.00000000    0.00000000     0.00000000    0.00000000
 1-X-B             0.00      0.00000000    0.00000000     0.00000000    0.00000000
 1-A-R           100.00      0.00000000    0.00000000     0.00000000    0.00000000
 1-B-1     3,864,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 1-B-2     2,628,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 1-B-3     1,546,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 1-B-4       773,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 1-B-5       464,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 1-B-6     1,236,668.87   1000.00000000    0.00000000     0.00000000    0.00000000
 2-A-1   189,415,000.00    947.60454399    0.05016335     0.23872085    0.00000000
 2-M-1     9,986,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 2-X-1             0.00      0.00000000    0.00000000     0.00000000    0.00000000
 2-X-M             0.00      0.00000000    0.00000000     0.00000000    0.00000000
 2-X-B             0.00      0.00000000    0.00000000     0.00000000    0.00000000
 2-A-R           100.00      0.00000000     0.0000000     0.00000000    0.00000000
 2-B-1     2,367,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 2-B-2       824,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 2-B-3     1,235,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 2-B-4       618,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 2-B-5       515,000.00   1000.00000000    0.00000000     0.00000000    0.00000000
 2-B-6       926,589.00   1000.00000000    0.00000000     0.00000000    0.00000000
</TABLE>

<TABLE>
<CAPTION>
          Realized    Total Principal   Ending Certificate   Ending Certificate   Total Principal
Class     Loss (3)      Reduction           Balance             Percentage         Distribution
-------------------------------------------------------------------------------------------------
<S>      <C>          <C>               <C>                  <C>                  <C>
 1-A-1   0.00000000      3.38353980       943.85899059          0.94385899          3.38353980
 1-A-2   0.00000000      2.05511760       970.07692320          0.97007692          2.05511760
1-X-1A   0.00000000      0.00000000         0.00000000          0.00000000          0.00000000
1-X-1B   0.00000000      0.00000000         0.00000000          0.00000000          0.00000000
 1-X-2   0.00000000      0.00000000         0.00000000          0.00000000          0.00000000
 1-X-B   0.00000000      0.00000000         0.00000000          0.00000000          0.00000000
 1-A-R   0.00000000      0.00000000         0.00000000          0.00000000          0.00000000
 1-B-1   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 1-B-2   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 1-B-3   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 1-B-4   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 1-B-5   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 1-B-6   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 2-A-1   0.00000000      0.28888420       947.31565979          0.94731566          0.28888420
 2-M-1   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 2-X-1   0.00000000      0.00000000         0.00000000          0.00000000          0.00000000
 2-X-M   0.00000000      0.00000000         0.00000000          0.00000000          0.00000000
 2-X-B   0.00000000      0.00000000         0.00000000          0.00000000          0.00000000
 2-A-R   0.00000000      0.00000000         0.00000000          0.00000000          0.00000000
 2-B-1   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 2-B-2   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 2-B-3   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 2-B-4   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 2-B-5   0.00000000      0.00000000      1000.00000000          1.00000000          0.00000000
 2-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>
                                                   Beginning                     Payment of
                                                  Certificate/      Current        Unpaid
          Original Face   Current Certificate      Notional         Accrued       Interest
Class        Amount              Rate               Balance         Interest      Shortfall
-------------------------------------------------------------------------------------------
<S>      <C>              <C>                    <C>              <C>             <C>
 1-A-1   148,641,000.00       1.40125%           140,799,076.96     164,412.26     0.00
 1-A-2   150,000,000.00       1.50000%           145,819,806.12     182,274.76     0.00
1-X-1A             0.00       0.91429%            66,688,139.29      50,810.42     0.00
1-X-1B             0.00       1.13960%            74,110,937.67      70,380.68     0.00
 1-X-2             0.00       1.03780%           145,819,806.12     126,109.21     0.00
 1-X-B             0.00       0.74560%             3,864,000.00       2,400.83     0.00
 1-A-R           100.00       2.36081%                     0.00           0.00     0.00
 1-B-1     3,864,000.00       1.74125%             3,864,000.00       5,606.82     0.00
 1-B-2     2,628,000.00       2.48620%             2,628,000.00       5,444.78     0.00
 1-B-3     1,546,000.00       2.48620%             1,546,000.00       3,203.05     0.00
 1-B-4       773,000.00       2.48620%               773,000.00       1,601.53     0.00
 1-B-5       464,000.00       2.48620%               464,000.00         961.33     0.00
 1-B-6     1,236,668.87       2.48620%             1,236,668.87       2,562.17     0.00
 2-A-1   189,415,000.00       1.44125%           179,490,514.70     215,575.59     0.00
 2-M-1     9,986,000.00       1.56125%             9,986,000.00      12,992.20     0.00
 2-X-1             0.00       0.92506%           179,490,514.70     138,366.84     0.00
 2-X-M             0.00       0.80506%             9,986,000.00       6,699.47     0.00
 2-X-B             0.00       0.62506%             2,367,000.00       1,232.94     0.00
 2-A-R           100.00       2.31261%                     0.00           0.00     0.00
 2-B-1     2,367,000.00       1.74125%             2,367,000.00       3,434.62     0.00
 2-B-2       824,000.00       2.36631%               824,000.00       1,624.87     0.00
 2-B-3     1,235,000.00       2.36631%             1,235,000.00       2,435.33     0.00
 2-B-4       618,000.00       2.36631%               618,000.00       1,218.65     0.00
 2-B-5       515,000.00       2.36631%               515,000.00       1,015.54     0.00
 2-B-6       926,589.00       2.36631%               926,589.00       1,827.17     0.00
------------------------------------------------------------------------------------------
Totals   515,039,457.87                                           1,002,191.06     0.00
------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                         Non-                                 Remaining       Ending
          Current     Supported                                Unpaid       Certificate/
          Interest    Interest    Realized   Total Interest   Interest      Notational
Class    Shortfall    Shortfall   Loss (4)    Distribution    Shortfall       Balance
-----------------------------------------------------------------------------------------
<S>      <C>          <C>         <C>        <C>              <C>          <C>
 1-A-1     0.00         0.00        0.00        164,412.26       0.00      140,296,144.22
 1-A-2     0.00         0.00        0.00        182,274.76       0.00      145,511,538.48
1-X-1A     0.00         0.00        0.00          5,810.42       0.00       66,616,114.96
1-X-1B     0.00         0.00        0.00         70,380.68       0.00       73,680,029.26
 1-X-2     0.00         0.00        0.00        126,109.21       0.00      145,511,538.48
 1-X-B     0.00         0.00        0.00          2,400.83       0.00        3,864,000.00
 1-A-R     0.00         0.00        0.00              0.00       0.00                0.00
 1-B-1     0.00         0.00        0.00          5,606.83       0.00        3,864,000.00
 1-B-2     0.00         0.00        0.00          5,444.78       0.00        2,628,000.00
 1-B-3     0.00         0.00        0.00          3,203.05       0.00        1,546,000.00
 1-B-4     0.00         0.00        0.00          1,601.53       0.00          773,000.00
 1-B-5     0.00         0.00        0.00            961.33       0.00          464,000.00
 1-B-6     0.00         0.00        0.00          2,562.17       0.00        1,236,668.87
 2-A-1     0.00         0.00        0.00        215,575.59       0.00      179,435,795.70
 2-M-1     0.00         0.00        0.00         12,992.20       0.00        9,986,000.00
 2-X-1     0.00         0.00        0.00        138,366.84       0.00      179,435,795.70
 2-X-M     0.00         0.00        0.00          6,699.47       0.00        9,986,000.00
 2-X-B     0.00         0.00        0.00          1,232.94       0.00        2,367,000.00
 2-A-R     0.00         0.00        0.00              0.00       0.00                0.00
 2-B-1     0.00         0.00        0.00          3,434.62       0.00        2,367,000.00
 2-B-2     0.00         0.00        0.00          1,624.87       0.00          824,000.00
 2-B-3     0.00         0.00        0.00          2,435.33       0.00        1,235,000.00
 2-B-4     0.00         0.00        0.00          1,218.65       0.00          618,000.00
 2-B-5     0.00         0.00        0.00          1,015.54       0.00          515,000.00
 2-B-6     0.00         0.00        0.00          1,827.16       0.00          926,589.00
-----------------------------------------------------------------------------------------
Totals     0.00         0.00        0.00      1,002,191.06       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
             Original Face   Certificate     Certificate/          Current        Interest
Class (5)      Amount           Rate       Notional Balance   Accrued Interest   Shortfall
--------------------------------------------------------------------------------------------
<S>         <C>              <C>           <C>                <C>                <C>
1-A-1       148,641,000.00     1.40125%       947.24253039      1.10610303        0.00000000
1-A-2       150,000,000.00     1.50000%       972.13204080      1.21516507        0.00000000
1-X-1A                0.00     0.91429%       947.79658632      0.72213655        0.00000000
1-X-1B                0.00     1.13960%       946.74453307      0.89909163        0.00000000
1-X-2                 0.00     1.03780%       972.13204080      0.84072807        0.00000000
1-X-B                 0.00     0.74560%      1000.00000000      0.62133282        0.00000000
1-A-R               100.00     2.36081%         0.00000000      0.00000000        0.00000000
1-B-1         3,864,000.00     1.74125%      1000.00000000      1.45104037        0.00000000
1-B-2         2,628,000.00     2.48620%      1000.00000000      2.07183409        0.00000000
1-B-3         1,546,000.00     2.48620%      1000.00000000      2.07183053        0.00000000
1-B-4           773,000.00     2.48620%      1000.00000000      2.07183700        0.00000000
1-B-5           464,000.00     2.48620%      1000.00000000      2.07183190        0.00000000
1-B-6         1,236,668.87     2.48620%      1000.00000000      2.07183189        0.00000000
2-A-1       189,415,000.00     1.44125%       947.60454399      1.13811256        0.00000000
2-M-1         9,986,000.00     1.56125%      1000.00000000      1.30104146        0.00000000
2-X-1                 0.00     0.92506%       947.60454399      0.73049568        0.00000000
2-X-M                 0.00     0.80506%       000.00000000      0.67088624        0.00000000
2-X-B                 0.00     0.62506%      1000.00000000      0.52088720        0.00000000
2-A-R               100.00     2.31261%         0.00000000      0.00000000        0.00000000
2-B-1         2,367,000.00     1.74125%      1000.00000000      1.45104351        0.00000000
2-B-2           824,000.00     2.36631%      1000.00000000      1.97192961        0.00000000
2-B-3         1,235,000.00     2.36631%      1000.00000000      1.97192713        0.00000000
2-B-4           618,000.00     2.36631%      1000.00000000      1.97192557        0.00000000
2-B-5           515,000.00     2.36631%      1000.00000000      1.97192233        0.00000000
2-B-6           926,589.00     2.36631%      1000.00000000      1.97193146        0.00000000
--------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
                           Non-                                     Remaining
            Current     Supported                                    Unpaid
            Interest     Interest     Realized    Total Interest    Interest    Ending Certificate/
Class (5)  Shortfall    Shortfall     Loss (6)     Distribution    Shortfall    Notational Balance
---------------------------------------------------------------------------------------------------
<S>        <C>          <C>          <C>          <C>              <C>          <C>
1-A-1      0.00000000   0.00000000   0.00000000     1.10610303     0.00000000      943.85899059
1-A-2      0.00000000   0.00000000   0.00000000     1.21516507     0.00000000      970.07692320
1-X-1A     0.00000000   0.00000000   0.00000000     0.72213655     0.00000000      946.77294981
1-X-1B     0.00000000   0.00000000   0.00000000     0.89909163     0.00000000      941.23981009
1-X-2      0.00000000   0.00000000   0.00000000     0.84072807     0.00000000      970.07692320
1-X-B      0.00000000   0.00000000   0.00000000     0.62133282     0.00000000     1000.00000000
1-A-R      0.00000000   0.00000000   0.00000000     0.00000000     0.00000000        0.00000000
1-B-1      0.00000000   0.00000000   0.00000000     1.45104296     0.00000000     1000.00000000
1-B-2      0.00000000   0.00000000   0.00000000     2.07183409     0.00000000     1000.00000000
1-B-3      0.00000000   0.00000000   0.00000000     2.07183053     0.00000000     1000.00000000
1-B-4      0.00000000   0.00000000   0.00000000     2.07183700     0.00000000     1000.00000000
1-B-5      0.00000000   0.00000000   0.00000000     2.07183190     0.00000000     1000.00000000
1-B-6      0.00000000   0.00000000   0.00000000     2.07183189     0.00000000     1000.00000000
2-A-1      0.00000000   0.00000000   0.00000000     1.13811256     0.00000000      947.31565979
2-M-1      0.00000000   0.00000000   0.00000000     1.30104146     0.00000000     1000.00000000
2-X-1      0.00000000   0.00000000   0.00000000     0.73049568     0.00000000      947.31565979
2-X-M      0.00000000   0.00000000   0.00000000     0.67088624     0.00000000     1000.00000000
2-X-B      0.00000000   0.00000000   0.00000000     0.52088720     0.00000000     1000.00000000
2-A-R      0.00000000   0.00000000   0.00000000     0.00000000     0.00000000        0.00000000
2-B-1      0.00000000   0.00000000   0.00000000     1.45104351     0.00000000     1000.00000000
2-B-2      0.00000000   0.00000000   0.00000000     1.97192961     0.00000000     1000.00000000
2-B-3      0.00000000   0.00000000   0.00000000     1.97192713     0.00000000     1000.00000000
2-B-4      0.00000000   0.00000000   0.00000000     1.97192557     0.00000000     1000.00000000
2-B-5      0.00000000   0.00000000   0.00000000     1.97192233     0.00000000     1000.00000000
2-B-6      0.00000000   0.00000000   0.00000000     1.97192067     0.00000000     1000.00000000
-----------------------------------------------------------------------------------------------
</TABLE>

(5)  Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

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

Deposits
         Payments of Interest and Principal                                2,008,259.67
         Liquidations, Insurance Proceeds, Reserve Funds                           0.00
         Proceeds from Repurchased Loans                                           0.00
         Other Amounts (Servicer Advances)                                     2,721.86
         Realized Losses (Gains, Subsequent Expenses & Recoveries)                 0.00
         Prepayment Penalties                                                      0.00
                                                                           ------------
Total Deposits                                                             2,010,981.53

Withdrawals
         Reimbursement for Servicer Advances                                       0.00
         Payment of Service Fee                                              142,871.09
         Payment of Interest and Principal                                 1,868,110.44
                                                                           ------------
Total Withdrawals (Pool Distribution Amount)                               2,010,981.53

Ending Balance                                                                     0.00
                                                                           ============

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

         Total Prepayment/Curtailment Interest Shortfall                           0.00
         Servicing Fee Support                                                     0.00
                                                                           ------------
         Non-Supported Prepayment Curtailment Interest Shortfall                   0.00
                                                                           ============

                                 SERVICING FEES

         Gross Servicing Fee                                                 141,843.82
         Master Servicing Fee                                                  1,027.27
         Supported Prepayment/Curtailment Interest Shortfall                       0.00
                                                                           ------------
         Net Servicing Fee                                                   142,871.09
                                                                           ============
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                      Beginning          Current          Current      Ending
   Account Type                        Balance         Withdrawals        Deposits     Balance
------------------                    --------         ----------         --------     --------
<S>                                   <C>              <C>                <C>          <C>
1-X-1A Reserve Fund                   4,000.00            0.00             0.00        4,000.00
1-X-2 Reserve Fund                    4,000.00            0.00             0.00        4,000.00
1-X-1B Reserve Fund                   2,000.00            0.00             0.00        2,000.00
2-X-1 Reserve Fund                    5,000.00            0.00             0.00        5,000.00
2-X-B Reserve Fund                    2,500.00            0.00             0.00        2,500.00
2-X-M Reserve Fund                    2,500.00            0.00             0.00        2,500.00
</TABLE>

            LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                          FORECLOSURE
---------------------------------------  ------------------------------------ ------------------------------------
                 No. of      Principal                 No. of       Principal              No. of        Principal
                 Loans        Balance                  Loans         Balance               Loans         Balance
<S>              <C>       <C>           <C>           <C>          <C>       <C>          <C>           <C>
0-29 Days          0               0.00  0-29 Days       0             0.00   0-29 Days       0             0.00
30 Days            3       1,292,992.95  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
                 ------    ------------                ------    ----------                 ------    ----------
                   3       1,292,992.95                  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        0.296150%    0.262682%    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%
               --------     --------                 --------    --------                 --------    --------
               0.296150%    0.262682%                0.000000%   0.000000%                0.000000%   0.000000%

<CAPTION>
                REO                                 TOTAL
-----------------------------------  -----------------------------------
              No. of       Principal              No. of       Principal
               Loans        Balance                Loans        Balance
<C>           <C>          <C>       <C>          <C>          <C>
0-29 Days        0             0.00  0-29 Days       0               0.00
30 Days          0             0.00  30 Days         3       1,292,992.95
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                  3       1,292,992.95

               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     0.296150%    0.262682%
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%               0.296150%    0.262682%
</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 2,721.86
</TABLE>



<PAGE>

                                                                GROUP 1A - 1 MO.

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

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

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

<CAPTION>
                REO                                 TOTAL
-----------------------------------  --------------------------------------
              No. of       Principal               No. of         Principal
               Loans        Balance                Loans           Balance
<C>           <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 1A - 6 Mo.

<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         950,000.00  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
                 ------    ------------                ------    --------                   ------  ---------
                   1         950,000.00                  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        0.432900%       1.243004%  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%
               --------        --------              --------    --------                 --------    --------
               0.432900%       1.243004%             0.000000%   0.000000%                0.000000%   0.000000%

<CAPTION>
                REO                                 TOTAL
-----------------------------------  --------------------------------------
               No. of    Principal                 No. of     Principal
               Loans      Balance                  Loans       Balance
<C>            <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         950,000.00
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                  1         950,000.00

               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    0.432900%       1.243004%
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%             0.432900%       1.243004%
</TABLE>
<PAGE>

                                    GROUP 1B

<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        2      342,992.95  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
           ---------------------             --------------------             -------------------
               2      342,992.95                 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    0.479616%    0.227462% 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%
           ---------------------             --------------------             -------------------
           0.479616%    0.227462%            0.000000%   0.000000%            0.000000%  0.000000%

<CAPTION>
              REO                             TOTAL
-------------------------------  -------------------------------
            No. of    Principal              No. of   Principal
             Loans     Balance                Loans    Balance
<S>        <C>       <C>         <C>        <C>       <C>
0-29 Days      0           0.00  0-29 Days      0           0.00
30 Days        0           0.00  30 Days        2     342,992.95
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                 2     342,992.95

            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    0.479616%   0.227462%
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%            0.479616%   0.227462%
</TABLE>

                                           Group 2

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

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

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

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

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

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                                                Mixed Arm
<S>                                                                                                 <C>
Weighted Average Gross Coupon                                                                             2.786641%
Weighted Average Net Coupon                                                                               2.441447%
Weighted Average Pass-Through Rate                                                                        2.438947%
Weighted Average Maturity (Stepdown Calculation)                                                               316

Beginning Scheduled Collateral Loan Count                                                                    1,015
Number of Loans Paid in Full                                                                                     2
Ending Scheduled Collateral Loan Count                                                                       1,013

Beginning Scheduled Collateral Balance                                                              493,092,656.40
Ending Scheduled Collateral Balance                                                                 492,226,737.02
Ending Actual Collateral Balance at 27-Feb-2004                                                     492,226,737.02

Monthly P&I Constant                                                                                  1,154,561.76
Special Servicing Fee                                                                                         0.00
Prepayment Penalties                                                                                          0.00
Realized Loss Amount                                                                                          0.00
Cumulative Realized Loss                                                                                      0.00

Ending Scheduled Balance for Premium Loans                                                          492,226,737.02

Scheduled Principal                                                                                       9,501.69
Unscheduled Principal                                                                                   856,417.69
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                      <C>
Group 1A Pro Rata Senior Percentage                                       96.417198%
Group 1B Pro Rata Senior Percentage                                       96.505836%
Group 2 Pro Rata Senior Percentage                                        91.594503%

Group 1A Senior Percentage                                               100.000000%
Group 1B Senior Percentage                                               100.000000%
Group 2 Senior Percentage                                                100.000000%

Group 1A Senior Prepayment Percentage                                    100.000000%
Group 1B Senior Prepayment Percentage                                    100.000000%
Group 2 Senior Prepayment Percentage                                     100.000000%

Group 1 Subordinate Percentage                                             0.000000%
Group 2 Subordinate Percentage                                             0.000000%

Group 1 Subordinate Prepay Percentage                                      0.000000%
Group 2 Subordinate Prepay Percentage                                      0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
          GROUP                  GROUP 1A - 1 MO  GROUP 1A - 6 MO     GROUP 1B         GROUP 2         TOTAL

Collateral Description               1 Month          6 Month         6 Month         1 Month
                                    LIBOR ARM        LIBOR ARM       LIBOR ARM       LIBOR ARM       Mixed ARM
<S>                              <C>              <C>              <C>             <C>             <C>
Weighted Average Coupon Rate            2.693043         2.918350        2.915295        2.668814        2.786641
Weighted Average Net Rate               2.318043         2.543350        2.540295        2.368814        2.441447
Pass-Through Rate                       2.315543         2.540850        2.537795        2.366314        2.438947
Weighted Average Maturity                    292              292             292             345             316
Record Date                           02/27/2004       02/27/2004      02/27/2004      02/27/2004      02/27/2004
Principal and Interest Constant       155,223.03       186,932.11      367,082.93      445,323.69    1,154,561.76
Beginning Loan Count                         156              233             417             209           1,015
Loans Paid in Full                             0                2               0               0               2
Ending Loan Count                            156              231             417             209           1,013
Beginning Scheduled Balance        69,166,228.53    76,864,853.43  151,099,469.99  195,962,104.45  493,092,656.40
Ending Scheduled Balance           69,100,401.67    76,427,747.55  150,791,202.35  195,907,385.45  492,226,737.02
Scheduled Principal                         0.00             0.00            0.00        9,501.69        9,501.69
Unscheduled Principal                  65,826.86       437,105.88      308,267.64       45,217.31      856,417.69
Scheduled Interest                    155,223.03       186,932.11      367,082.93      435,822.00    1,145,060.07
Servicing Fee                          21,614.45        24,020.27       47,218.58       48,990.52      141,843.82
Master Servicing Fee                        0.00             0.00            0.00            0.00            0.00
Trustee Fee                               144.10           160.14          314.79          408.24        1,027.27
FRY Amount                                  0.00             0.00            0.00            0.00            0.00
Special Hazard Fee                          0.00             0.00            0.00            0.00            0.00
Other Fee                                   0.00             0.00            0.00            0.00            0.00
Pool Insurance Fee                          0.00             0.00            0.00            0.00            0.00
Spread 1                                    0.00             0.00            0.00            0.00            0.00
Spread 2                                    0.00             0.00            0.00            0.00            0.00
Spread 3                                    0.00             0.00            0.00            0.00            0.00
Net Interest                          133,464.48       162,751.70      319,549.56      386,423.24    1,002,188.98
Realized Loss Amount                        0.00             0.00            0.00            0.00            0.00
Cumulative Realized Loss                    0.00             0.00            0.00            0.00            0.00
Percentage of Cumulative Losses             0.00             0.00            0.00            0.00            0.00
Prepayment Penalties                        0.00             0.00            0.00            0.00            0.00
Special Servicing Fee                       0.00             0.00            0.00            0.00            0.00
</TABLE>