<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 2003-1
                         RECORD DATE: FEBRUARY 28, 2003
                        DISTRIBUTION DATE: MARCH 20, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate                       Beginning
                      Class     Certificate Pass-   Certificate        Interest        Principal       Current
Class     CUSIP    Description    Through Rate        Balance        Distribution    Distribution   Realized Loss
-----     -----    -----------    ------------      -----------      ------------    ------------   -------------
<S>     <C>        <C>          <C>                <C>               <C>             <C>            <C>
 1A     81743PAA4      SEN           1.71750%        798,206,000.00      875,864.79   2,094,976.71        0.00
 2A     81743PAB2      SEN           1.74000%        190,000,000.00      211,216.67     681,942.37        0.00
X-1A    81743PAC0       IO           2.68470%                  0.00      409,815.14           0.00        0.00
X-1B    81743PAD8       IO           1.16667%                  0.00      597,947.13           0.00        0.00
 X-2    81743PAE6       IO           1.57096%                  0.00      248,736.02           0.00        0.00
 X-B    81743PAF3       IO           1.14578%                  0.00       15,186.30           0.00        0.00
 A-R    81743PAG1       R            2.83179%                100.00            0.24         100.00        0.00
 B-1    81743PAH9      SUB           2.21750%         15,905,000.00       22,533.19           0.00        0.00
 B-2    81743PAJ5      SUB           2.84586%          8,210,000.00       19,470.42           0.00        0.00
 B-3    81743PAK2      SUB           2.84586%          5,644,000.00       13,385.02           0.00        0.00
 B-4    SEQ0301B4      SUB           2.84586%          2,565,000.00        6,083.02           0.00        0.00
 B-5    SEQ0301B5      SUB           2.84586%          1,539,000.00        3,649.81           0.00        0.00
 B-6    SEQ0301B6      SUB           2.84586%          4,105,618.00        9,736.67           0.00        0.00
                                                   ----------------    ------------   ------------        ----
Totals                                             1,026,174,718.00    2,433,624.42   2,777,019.08        0.00
                                                   ----------------    ------------   ------------        ----

<CAPTION>
                     Ending  Certificate      Total       Cumulative
Class     CUSIP            Balance         Distribution  Realized Loss
-----     -----            -------         ------------  -------------
<S>     <C>          <C>                  <C>            <C>
 1A     81743PAA4       796,111,023.29    2,970,841.50        0.00
 2A     81743PAB2       189,318,057.63      893,159.04        0.00
X-1A    81743PAC0                 0.00      409,815.14        0.00
X-1B    81743PAD8                 0.00      597,947.13        0.00
 X-2    81743PAE6                 0.00      248,736.02        0.00
 X-B    81743PAF3                 0.00       15,186.30        0.00
 A-R    81743PAG1                 0.00          100.24        0.00
 B-1    81743PAH9        15,905,000.00       22,533.19        0.00
 B-2    81743PAJ5         8,210,000.00       19,470.42        0.00
 B-3    81743PAK2         5,644,000.00       13,385.02        0.00
 B-4    SEQ0301B4         2,565,000.00        6,083.02        0.00
 B-5    SEQ0301B5         1,539,000.00        3,649.81        0.00
 B-6    SEQ0301B6         4,105,618.00        9,736.67        0.00
                      ----------------    ------------       -----
Totals                1,023,397,698.92    5,210,643.50       00.00
                      ----------------    ------------       -----
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                             Beginning       Scheduled     Unscheduled
          Original Face     Certificate       Principal     Principal               Realized  Total Principal  Ending Certificate
Class        Amount           Balance       Distribution   Distribution  Accretion  Loss (1)     Reduction           Balance
-----     -------------     -----------     ------------   ------------  ---------  --------  ---------------  ------------------
<S>     <C>               <C>               <C>           <C>            <C>        <C>       <C>              <C>
 1A       798,206,000.00    798,206,000.00        0.00     2,094,976.71     0.00      0.00       2,094,976.71     796,111,023.29
 2A       190,000,000.00    190,000,000.00        0.00       681,942.37     0.00      0.00         681,942.37     189,318,057.63
X-1A                0.00              0.00        0.00             0.00     0.00      0.00               0.00               0.00
X-1B                0.00              0.00        0.00             0.00     0.00      0.00               0.00               0.00
 X-2                0.00              0.00        0.00             0.00     0.00      0.00               0.00               0.00
 X-B                0.00              0.00        0.00             0.00     0.00      0.00               0.00               0.00
 A-R              100.00            100.00        0.00           100.00     0.00      0.00             100.00               0.00
 B-1       15,905,000.00     15,905,000.00        0.00             0.00     0.00      0.00               0.00      15,905,000.00
 B-2        8,210,000.00      8,210,000.00        0.00             0.00     0.00      0.00               0.00       8,210,000.00
 B-3        5,644,000.00      5,644,000.00        0.00             0.00     0.00      0.00               0.00       5,644,000.00
 B-4        2,565,000.00      2,565,000.00        0.00             0.00     0.00      0.00               0.00       2,565,000.00
 B-5        1,539,000.00      1,539,000.00        0.00             0.00     0.00      0.00               0.00       1,539,000.00
 B-6        4,105,618.00      4,105,618.00        0.00             0.00     0.00      0.00               0.00       4,105,618.00
        ----------------  ----------------        ----     ------------     ----      ----       ------------   ----------------
Totals  1,026,174,718.00  1,026,174,718.00        0.00     2,777,019.98     0.00      0.00       2,777,019.08   1,023,397,698.92
        ----------------  ----------------        ----     ------------     ----      ----       ------------   ----------------

<CAPTION>
          Ending Certificate  Total Principal
Class         Percentage        Distribution
-----     ------------------  ---------------
<S>       <C>                 <C>
 1A           0.99737539       2,094,976.71
 2A           0.99641083         681,942.37
X-1A          0.00000000               0.00
X-1B          0.00000000               0.00
 X-2          0.00000000               0.00
 X-B          0.00000000               0.00
 A-R          0.00000000             100.00
 B-1          1.00000000               0.00
 B-2          1.00000000               0.00
 B-3          1.00000000               0.00
 B-4          1.00000000               0.00
 B-5          1.00000000               0.00
 B-6          1.00000000               0.00
              ----------       ------------
Totals        0.99729381       2,777,019.08
              ----------       ------------
</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                     Realized      Total Principal
Class     Amount            Balance      Distribution   Distribution     Accretion      Loss (3)        Reduction
-----  -------------      -----------    ------------   ------------     ---------      --------        ---------
<S>    <C>              <C>              <C>            <C>              <C>            <C>           <C>
 1A    798,206,000.00   1000.00000000     0.00000000       2.62460657    0.00000000     0.00000000       2.62460657
 2A    190,000,000.00   1000.00000000     0.00000000       3.58917037    0.00000000     0.00000000       3.58917037
X-1A             0.00      0.00000000     0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
X-1B             0.00      0.00000000     0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 X-2             0.00      0.00000000     0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 X-B             0.00      0.00000000     0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 A-R           100.00   1000.00000000     0.00000000    1000.00000000    0.00000000     0.00000000    1000.00000000
 B-1    15,905,000.00   1000.00000000     0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-2     8,210,000.00   1000.00000000     0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-3     5,644,000.00   1000.00000000     0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-4     2,565,000.00   1000.00000000     0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-5     1,539,000.00   1000.00000000     0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
 B-6     4,105,618.00   1000.00000000     0.00000000       0.00000000    0.00000000     0.00000000       0.00000000
       --------------   -------------     ----------    -------------    ----------     ----------    -------------

<CAPTION>
         Ending Certificate   Ending Certificate  Total Principal
Class         Balance             Percentage       Distribution
-----    ------------------   ------------------  ---------------
<S>      <C>                  <C>                 <C>
 1A         997.37539343          0.99737539         2.62460657
 2A         996.41082963          0.99641083         3.58917037
X-1A          0.00000000          0.00000000         0.00000000
X-1B          0.00000000          0.00000000         0.00000000
 X-2          0.00000000          0.00000000         0.00000000
 X-B          0.00000000          0.00000000         0.00000000
 A-R          0.00000000          0.00000000      1000.00000000
 B-1       1000.00000000          1.00000000         0.00000000
 B-2       1000.00000000          1.00000000         0.00000000
 B-3       1000.00000000          1.00000000         0.00000000
 B-4       1000.00000000          1.00000000         0.00000000
 B-5       1000.00000000          1.00000000         0.00000000
 B-6       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                    Non-
                                              Certificate/      Current        Unpaid       Current      Supported
         Original Face       Current            Notional        Accrued       Interest      Interest     Interest     Realized
 Class       Amount       Certificate Rate      Balance        Interest      Shortfall     Shortfall     Shortfall    Loss (4)
 -----       ------       ----------------      -------        --------      ---------     ---------     ---------    --------
<S>     <C>               <C>               <C>              <C>             <C>           <C>           <C>          <C>
  1A      798,206,000.00       1.71750%     798,206,000.00     875,864.79        0.00          0.00         0.00         0.00
  2A      190,000,000.00       1.74000%     190,000,000.00     211,216.67        0.00          0.00         0.00         0.00
 X-1A               0.00       2.68470%     183,178,145.46     409,815.14        0.00          0.00         0.00         0.00
 X-1B               0.00       1.16667%     615,027,854.54     597,947.13        0.00          0.00         0.00         0.00
  X-2               0.00       1.57096%     190,000,000.00     248,736.02        0.00          0.00         0.00         0.00
  X-B               0.00       1.14578%      15,905,000.00      15,186.30        0.00          0.00         0.00         0.00
  A-R             100.00       2.83179%             100.00           0.24        0.00          0.00         0.00         0.00
  B-1      15,905,000.00       2.21750%      15,905,000.00      22,533.19        0.00          0.00         0.00         0.00
  B-2       8,210,000.00       2.84586%       8,210,000.00      19,470.42        0.00          0.00         0.00         0.00
  B-3       5,644,000.00       2.84586%       5,644,000.00      13,385.02        0.00          0.00         0.00         0.00
  B-4       2,565,000.00       2.84586%       2,565,000.00       6,083.02        0.00          0.00         0.00         0.00
  B-5       1,539,000.00       2.84586%       1,539,000.00       3,649.81        0.00          0.00         0.00         0.00
  B-6       4,105,618.00       2.84586%       4,105,618.00       9,736.68        0.00          0.00         0.00         0.00
        ----------------                                     ------------        ----          ----         ----         ----
Totals  1,026,174,718.00                                     2,433,624.43        0.00          0.00         0.00         0.00
        ----------------                                     ------------        ----          ----         ----         ----

<CAPTION>

                               Remaining       Ending
                                Unpaid      Certificate/
           Total Interest      Interest      Notational
 Class      Distribution      Shortfall       Balance
 -----      ------------      ---------       -------
<S>        <C>                <C>         <C>
  1A         875,864.79          0.00     796,111,023.29
  2A         211,216.67          0.00     189,318,057.63
 X-1A        409,815.14          0.00     181,698,572.12
 X-1B        597,947.13          0.00     614,412,452.16
  X-2        248,736.02          0.00     189,318,057.63
  X-B         15,186.30          0.00      15,905,000.00
  A-R              0.24          0.00               0.00
  B-1         22,533.19          0.00      15,905,000.00
  B-2         19,470.42          0.00       8,210,000.00
  B-3         13,385.02          0.00       5,644,000.00
  B-4          6,083.02          0.00       2,565,000.00
  B-5          3,649.81          0.00       1,539,000.00
  B-6          9,736.67          0.00       4,105,618.00
           ------------          ----
Totals     2,433,624.42          0.00
           ------------          ----
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                              Payment of                     Non-
                              Current        Beginning                          Unpaid        Current     Supported
Class     Original Face     Certificate     Certificate/    Current Accrued    Interest      Interest      Interest        Realized
(5)          Amount            Rate       Notional Balance      Interest       Shortfall     Shortfall     Shortfall       Loss (6)
-----     -------------     -----------   ----------------  ---------------    ---------     ---------     ---------       --------
<S>      <C>                <C>           <C>               <C>               <C>           <C>           <C>            <C>
 1A        798,206,000.00    1.71750%      1000.00000000        1.09729166     0.00000000   0.00000000    0.00000000     0.00000000
 2A        190,000,000.00    1.74000%      1000.00000000        1.11166668     0.00000000   0.00000000    0.00000000     0.00000000
X-1A                 0.00    2.68470%      1000.00000000        2.23724909     0.00000000   0.00000000    0.00000000     0.00000000
X-1B                 0.00    1.16667%      1000.00000000        0.97222772     0.00000000   0.00000000    0.00000000     0.00000000
 X-2                 0.00    1.57096%      1000.00000000        1.30913695     0.00000000   0.00000000    0.00000000     0.00000000
 X-B                 0.00    1.14578%      1000.00000000        0.95481295     0.00000000   0.00000000    0.00000000     0.00000000
 A-R               100.00    2.83179%      1000.00000000        2.40000000     0.00000000   0.00000000    0.00000000     0.00000000
 B-1        15,905,000.00    2.21750%      1000.00000000        1.41673625     0.00000000   0.00000000    0.00000000     0.00000000
 B-2         8,210,000.00    2.84586%      1000.00000000        2.37154933     0.00000000   0.00000000    0.00000000     0.00000000
 B-3         5,644,000.00    2.84586%      1000.00000000        2.37154855     0.00000000   0.00000000    0.00000000     0.00000000
 B-4         2,565,000.00    2.84586%      1000.00000000        2.37154776     0.00000000   0.00000000    0.00000000     0.00000000
 B-5         1,539,000.00    2.84586%      1000.00000000        2.37154646     0.00000000   0.00000000    0.00000000     0.00000000
 B-6         4,105,618.00    2.84586%      1000.00000000        2.37155040     0.00000000   0.00000000    0.00000000     0.00000000
           --------------    -------       -------------        ----------     ----------   ----------    ----------     ----------

<CAPTION>
                             Remaining
                              Unpaid
Class       Total Interest   Interest     Ending Certificate/
(5)          Distribution    Shortfall    Notational Balance
-----        ------------    ----------   ------------------
<S>         <C>             <C>           <C>
 1A          1.09729166     0.00000000       997.37539343
 2A          1.11166668     0.00000000       996.41082963
X-1A         2.23724909     0.00000000       991.92276275
X-1B         0.97222772     0.00000000       998.99939104
 X-2         1.30913695     0.00000000       996.41082963
 X-B         0.95481295     0.00000000      1000.00000000
 A-R         2.40000000     0.00000000        0.000000000
 B-1         1.41673625     0.00000000      1000.00000000
 B-2         2.37154933     0.00000000      1000.00000000
 B-3         2.37154855     0.00000000      1000.00000000
 B-4         2.37154776     0.00000000      1000.00000000
 B-5         2.37154646     0.00000000      1000.00000000
 B-6         2.37154796     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                              5,483,094.88
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                  10,884.30
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                         ------------
Total Deposits                                                           5,493,979.18

Withdrawals
         Reimbursement for Servicer Advances                                     0.00
         Payment of Service Fee                                            283,335.68
         Payment of Interest and Principal                               5,210,643.50
                                                                         ------------
Total Withdrawals (Pool Distribution Amount)                             5,493,979.18

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

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                                         <C>
Total Prepayment/Curtailment Interest Shortfall                             0.00
Servicing Fee Support                                                       0.00
                                                                            ----

Non-Supported Prepayment Curtailment Interest Shortfall                     0.00
                                                                            ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                                    <C>
Gross Servicing Fee                                                    276,035.10
Master Servicing Fee                                                     7,300.58
Supported Prepayment/Curtailment Interest Shortfall                          0.00
                                                                       ----------

Net Servicing Fee                                                      283,335.68
                                                                       ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                Beginning           Current           Current         Ending
           Account Type                          Balance          Withdrawals         Deposits        Balance
--------------------------------------------------------------------------------------------------------------
<S>                                             <C>               <C>                 <C>             <C>
Class X-1 Reserve Fund Sub Account              5,000.00             0.00               0.00          5,000.00
Class X-2 Reserve Fund Sub Account              2,500.00             0.00               0.00          2,500.00
Class X-B Reserve Fund Sub Account              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             10         4,195,261.81      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
                 --------------------------                     ----------------------                    --------------------------
                     10        4,195,261.81                         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          0.424809%        0.480393%      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%
                 --------------------------                     ----------------------                    --------------------------
                 0.424809%        0.480393%                     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            10          4,195,261.81
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                        10          4,195,261.81

                  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        0.424809%         0.480393%
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%                    0.424809%         0.480393%
</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  10,884.30
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                    Original $          Original%          Current $           Current %        Current Class %       Prepayment %
                ----------------      ------------     ----------------      -------------      ---------------      -------------
<S>             <C>                   <C>              <C>                   <C>                <C>                  <C>
Class A         1,026,174,618.00      99.99999026%     1,023,397,698.92      117.18829799%        112.840548%            0.000000%
Class 1A          227,968,618.00      22.21538048%       227,286,675.63       26.02638124%         91.161917%        2,096.760602%
Class 2A           37,968,618.00       3.70001495%        37,968,618.00        4.34775037%         21.678631%          498.617194%
Class X-2          37,968,618.00       3.70001495%        37,968,618.00        4.34775037%          0.000000%            0.000000%
Class B-1          22,063,618.00       2.15008396%        22,063,618.00        2.52648393%          1.821266%           41.889858%
Class B-2          13,853,618.00       1.35002527%        13,853,618.00        1.58636463%          0.940119%           21.623120%
Class B-3           8,209,618.00       0.80002146%         8,209,618.00        0.94007556%          0.646289%           14.864908%
Class B-4           5,644,618.00       0.55006403%         5,644,618.00        0.64635984%          0.293716%            6.755579%
Class B-5           4,105,618.00       0.40008957%         4,105,618.00        0.47013042%          0.176229%            4.053347%
Class B-6                   0.00       0.00000000%                 0.00        0.00000000%          0.470130%           10.813188%
</TABLE>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     POOL 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             8          3,220,750.00    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
                ---------------------------                    --------------------------                  -------------------------
                    8          3,220,750.00                        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         0.415584%         0.448773%    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%
                ---------------------------                    --------------------------                  -------------------------
                0.415584%         0.448773%                    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            8           3,220,750.00
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                        8           3,220,750.00

                  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        0.415584%          0.448773%
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%                    0.415584%          0.448773%
</TABLE>

                                     POOL 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             2          974,511.81     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          974,511.81                         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         0.466200%       0.626217%     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%
                -------------------------                      --------------------------                  ------------------------
                0.466200%       0.626217%                     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            974,511.81
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            974,511.81

                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        0.466200%         0.626217%
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%                   0.466200%         0.626217%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                          Mixed Arm
<S>                                                                         <C>
Weighted Average Gross Coupon                                                       3.231494%
Weighted Average Net Coupon                                                         2.908701%
Weighted Average Pass-Through Rate                                                  2.843394%
Weighted Average Maturity (Stepdown Calculation)                                         326

Beginning Scheduled Collateral Loan Count                                              2,357
Number of Loans Paid in Full                                                               3
Ending Scheduled Collateral Loan Count                                                 2,354

Beginning Scheduled Collateral Balance                                      1,026,174,718.00
Ending Scheduled Collateral Balance                                           873,293,423.01
Ending Actual Collateral Balance at 28-Feb-2003                               873,297,525.71

Monthly P&I Constant                                                            2,359,180.28
Special Servicing Fee                                                                   0.00
Prepayment Penalties                                                                    0.00
Realization Loss Amount                                                                 0.00
Cumulative Realized Loss                                                                0.00

Class A Optimal Amount                                                          5,120,598.08

Ending Scheduled Balance for Premium Loans                                    873,293,423.01

Scheduled Principal                                                                     0.00
Unscheduled Principal                                                           2,777,018.09
</TABLE>

<TABLE>
<S>                                                            <C>
Pool 1 Prefunding Balance                                      109,105,765.64
Pool 2 Prefunding Balance                                       40,998,510.27
Remaining Capitalized Interest Account Balance                           0.00
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
            GROUP                                1                        2                    TOTAL
Collateral Description                                                  6 Month
                                             Mixed ARM                 LIBOR ARM             Mixed ARM
<S>                                        <C>                      <C>                    <C>
Weighted Average Coupon Rate                     3.219248                 3.287887               3.231494
Weighted Average Net Rate                        2.840475                 2.912887               2.908701
Pass-Through Rate                                2.830475                 2.902887               2.843394
Weighted Average Maturity                             324                      332                    326
Record Date                                    02/28/2003               02/28/2003             02/28/2003
Principal and Interest Constant              1,930,929.36               428,250.92           2,359,180.28
Beginning Loan Count                                1,925                      430                  2,355
Loans Paid in Full                                      2                        1                      3
Ending Loan Count                                   1,923                      429                  2,352
Beginning Scheduled Balance                719,769,109.37           156,301,331.73         876,870,441.10
Ending Scheduled Balance                   717,674,033.65           155,619,389.36         873,293,423.01
Scheduled Principal                                  0.00                     0.00                   0.00
Unscheduled Principal                        2,095,075.72               681,942.37           2,777,018.09
Scheduled Interest                           1,930,929.36               428,250.92           2,359,180.28
Servicing Fee                                  227,190.93                48,844.17             276,035.10
Master Servicing Fee                             5,998.08                 1,302.50               7,300.58
Trustee Fee                                          0.00                     0.00                   0.00
FRY Amount                                           0.00                     0.00                   0.00
Special Hazard Fee                                   0.00                     0.00                   0.00
Other Fee                                            0.00                     0.00                   0.00
Pool Insurance Fee                                   0.00                     0.00                   0.00
Spread 1                                             0.00                     0.00                   0.00
Spread 2                                             0.00                     0.00                   0.00
Spread 3                                             0.00                     0.00                   0.00
Net Interest                                 1,697,740.35               378,104.25           2,075,844.60
Realized Loss Amount                                 0.00                     0.00                   0.00
Cumulative Realized Loss                             0.00                     0.00                   0.00
Percentage of Cumulative Losses                      0.00                     0.00                   0.00
Prepayment Penalties                                 0.00                     0.00                   0.00
Special Servicing Fee                                0.00                     0.00                   0.00
</TABLE>

<PAGE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                      <C>
Group Pool 1
One Month Libor Loan Balance                            166,608,845.00
Six Month Libor Loan Balance                            551,065,188.70
Senior Percent                                              100.000000%
Senior Prepayment Percent                                   100.000000%
Subordinate Percent                                           0.000000%
Subordinate Prepayment Percent                                0.000000%

Group Pool 2
Six Month Libor Loan Balance                            155,619,389.40
Senior Percent                                              100.000000%
Senior Prepayment Percent                                   100.000000%
Subordinate Percent                                           0.000000%
Subordinate Prepayment Percent                                0.000000%
</TABLE>