<PAGE>

                                  EXHIBIT 10.1

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

                               SMT SERIES 2002-10
                           RECORD DATE: JULY 31, 2003
                       DISTRIBUTION DATE: AUGUST 20, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                                           Certificate         Certificate
                                              Class            Pass-Through          Beginning             Interest
   Class               CUSIP               Description             Rate         Certificate Balance      Distribution
-----------------------------------------------------------------------------------------------------------------------
<S>                  <C>                   <C>                 <C>              <C>                      <C>
     1A              81743VAA1                   SEN               1.50000%        765,412,119.68            956,765.15
    2A-1             81743VAB9                   SEN               1.48000%        178,003,245.82            219,537.34
    2A-2             81743VAN3                   SEN               1.78000%          3,500,000.00              5,191.67
    X-1A             81743VAC7                    IO               1.26028%                  0.00            381,605.10
    X-1B             81743VAD5                    IO               1.45100%                  0.00            486,156.20
    X-2              81743VAP8                    IO               1.46514%                  0.00            221,606.28
    X-B              81743VAE3                    IO               0.86749%                  0.00             18,596.85
    A-R              81743VAF0                   SEN               3.37696%                  0.00                  0.00
    B-1              81743VAG8                   SUB               1.90000%         12,600,000.00             19,950.00
    B-2              81743VAH6                   SUB               1.90000%          8,400,000.00             13,300.00
    B-3              81743VAJ2                   SUB               2.50000%          4,725,000.00              9,843.75
    B-4              SMT0210B4                   SUB               2.87770%          2,625,000.00              6,294.96
    B-5              SMT0210B5                   SUB               2.87770%          2,100,000.00              5,035.97
    B-6              SMT0210B6                   SUB               2.87770%          3,685,162.00              8,837.31
-----------------------------------------------------------------------------------------------------------------------
Totals                                                                             981,050,527.50          2,352,720.58
-----------------------------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
                      Principal               Current         Ending Certificate           Total                Cumulative
   Class             Distribution          Realized Loss            Balance            Distribution           Realized Loss
---------------------------------------------------------------------------------------------------------------------------
<S>                  <C>                   <C>                <C>                      <C>                    <C>
     1A                8,135,235.23                  0.00        757,276,884.45          9,092,000.38                  0.00
    2A-1               1,529,314.05                  0.00        176,473,931.77          1,748,851.39                  0.00
    2A-2                       0.00                  0.00          3,500,000.00              5,191.67                  0.00
    X-1A                       0.00                  0.00                  0.00            381,605.10                  0.00
    X-1B                       0.00                  0.00                  0.00            486,156.20                  0.00
    X-2                        0.00                  0.00                  0.00            221,606.28                  0.00
    X-B                        0.00                  0.00                  0.00             18,596.85                  0.00
    A-R                        0.00                  0.00                  0.00                  0.00                  0.00
    B-1                        0.00                  0.00         12,600,000.00             19,950.00                  0.00
    B-2                        0.00                  0.00          8,400,000.00             13,300.00                  0.00
    B-3                        0.00                  0.00          4,725,000.00              9,843.75                  0.00
    B-4                        0.00                  0.00          2,625,000.00              6,294.96                  0.00
    B-5                        0.00                  0.00          2,100,000.00              5,035.97                  0.00
    B-6                        0.00                  0.00          3,685,162.00              8,837.31                  0.00
---------------------------------------------------------------------------------------------------------------------------
Totals                 9,664,549.28                  0.00        971,385,978.22         12,017,269.86                  0.00
---------------------------------------------------------------------------------------------------------------------------
</TABLE>


All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.
<PAGE>
                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                      Beginning            Scheduled          Unscheduled
               Original Face         Certificate           Principal           Principal                                  Realized
   Class           Amount              Balance            Distribution        Distribution               Accretion         Loss (1)
-----------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                    <C>                   <C>                 <C>                        <C>              <C>
     1A        822,375,000.00       765,412,119.68                 0.00         8,135,235.23                 0.00            0.00
    2A-1       190,000,000.00       178,003,245.82                 0.00         1,529,314.05                 0.00            0.00
    2A-2         3,500,000.00         3,500,000.00                 0.00                 0.00                 0.00            0.00
    X-1A                 0.00                 0.00                 0.00                 0.00                 0.00            0.00
    X-1B                 0.00                 0.00                 0.00                 0.00                 0.00            0.00
    X-2                  0.00                 0.00                 0.00                 0.00                 0.00            0.00
    X-B                  0.00                 0.00                 0.00                 0.00                 0.00            0.00
    A-R                100.00                 0.00                 0.00                 0.00                 0.00            0.00
    B-1         12,600,000.00        12,600,000.00                 0.00                 0.00                 0.00            0.00
    B-2          8,400,000.00         8,400,000.00                 0.00                 0.00                 0.00            0.00
    B-3          4,725,000.00         4,725,000.00                 0.00                 0.00                 0.00            0.00
    B-4          2,625,000.00         2,625,000.00                 0.00                 0.00                 0.00            0.00
    B-5          2,100,000.00         2,100,000.00                 0.00                 0.00                 0.00            0.00
    B-6          3,685,162.00         3,685,162.00                 0.00                 0.00                 0.00            0.00
-----------------------------------------------------------------------------------------------------------------------------------
Totals       1,050,010,262.00       981,050,527.50                 0.00         9,664,549.28                 0.00            0.00
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>

             Total Principal   Ending Certificate    Ending Certificate    Total Principal
   Class        Reduction            Balance              Percentage         Distribution
------------------------------------------------------------------------------------------
<S>          <C>               <C>                   <C>                   <C>
     1A        8,135,235.23       757,276,884.45           0.92084132         8,135,235.23
    2A-1       1,529,314.05       176,473,931.77           0.92881017         1,529,314.05
    2A-2               0.00         3,500,000.00           1.00000000                 0.00
    X-1A               0.00                 0.00           0.00000000                 0.00
    X-1B               0.00                 0.00           0.00000000                 0.00
    X-2                0.00                 0.00           0.00000000                 0.00
    X-B                0.00                 0.00           0.00000000                 0.00
    A-R                0.00                 0.00           0.00000000                 0.00
    B-1                0.00        12,600,000.00           1.00000000                 0.00
    B-2                0.00         8,400,000.00           1.00000000                 0.00
    B-3                0.00         4,725,000.00           1.00000000                 0.00
    B-4                0.00         2,625,000.00           1.00000000                 0.00
    B-5                0.00         2,100,000.00           1.00000000                 0.00
    B-6                0.00         3,685,162.00           1.00000000                 0.00
------------------------------------------------------------------------------------------
Totals         9,664,549.28       971,385,978.22           0.92512046         9,664,549.28
------------------------------------------------------------------------------------------
</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                                     Total
              Original Face       Certificate        Principal       Principal                      Realized      Principal
   Class          Amount            Balance         Distribution    Distribution    Accretion       Loss (3)      Reduction
----------------------------------------------------------------------------------------------------------------------------
<S>          <C>                 <C>                <C>             <C>             <C>            <C>            <C>
     1A      822,375,000.00       930.73369166        0.00000000     9.89236690     0.00000000     0.00000000     9.89236690
    2A-1     190,000,000.00       936.85918853        0.00000000     8.04902132     0.00000000     0.00000000     8.04902132
    2A-2       3,500,000.00      1000.00000000        0.00000000     0.00000000     0.00000000     0.00000000     0.00000000
    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         0.00000000        0.00000000     0.00000000     0.00000000     0.00000000     0.00000000
    B-1       12,600,000.00      1000.00000000        0.00000000     0.00000000     0.00000000     0.00000000     0.00000000
    B-2        8,400,000.00      1000.00000000        0.00000000     0.00000000     0.00000000     0.00000000     0.00000000
    B-3        4,725,000.00      1000.00000000        0.00000000     0.00000000     0.00000000     0.00000000     0.00000000
    B-4        2,625,000.00      1000.00000000        0.00000000     0.00000000     0.00000000     0.00000000     0.00000000
    B-5        2,100,000.00      1000.00000000        0.00000000     0.00000000     0.00000000     0.00000000     0.00000000
    B-6        3,685,162.00      1000.00000000        0.00000000     0.00000000     0.00000000     0.00000000     0.00000000
</TABLE>

<TABLE>
<CAPTION>
                Ending             Ending          Total
              Certificate        Certificate     Principal
   Class        Balance          Percentage     Distribution
------------------------------------------------------------
<S>          <C>                 <C>            <C>
     1A       920.84132476        0.92084132     9.89236690
    2A-1      928.81016721        0.92881017     8.04902132
    2A-2     1000.00000000        1.00000000     0.00000000
    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     0.00000000
    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
                                                          Certificate/             Current           Unpaid          Current
               Original Face           Current              Notional               Accrued          Interest        Interest
   Class           Amount          Certificate Rate         Balance                Interest        Shortfall        Shortfall
-----------------------------------------------------------------------------------------------------------------------------
<S>          <C>                   <C>                    <C>                    <C>               <C>              <C>
    1A         822,375,000.00              1.50000%       765,412,119.68           956,765.15          0.00            0.00
   2A-1        190,000,000.00              1.48000%       178,003,245.82           219,537.34          0.00            0.00
   2A-2          3,500,000.00              1.78000%         3,500,000.00             5,191.67          0.00            0.00
   X-1A                  0.00              1.26028%       363,354,175.35           381,605.10          0.00            0.00
   X-1B                  0.00              1.45100%       402,057,944.33           486,156.20          0.00            0.00
    X-2                  0.00              1.46514%       181,503,245.82           221,606.28          0.00            0.00
    X-B                  0.00              0.86749%        25,725,000.00            18,596.85          0.00            0.00
    A-R                100.00              3.37696%                 0.00                 0.00          0.00            0.00
    B-1         12,600,000.00              1.90000%        12,600,000.00            19,950.00          0.00            0.00
    B-2          8,400,000.00              1.90000%         8,400,000.00            13,300.00          0.00            0.00
    B-3          4,725,000.00              2.50000%         4,725,000.00             9,843.75          0.00            0.00
    B-4          2,625,000.00              2.87770%         2,625,000.00             6,294.96          0.00            0.00
    B-5          2,100,000.00              2.87770%         2,100,000.00             5,035.97          0.00            0.00
    B-6          3,685,162.00              2.87770%         3,685,162.00             8,837.31          0.00            0.00
-----------------------------------------------------------------------------------------------------------------------------
  Totals     1,050,010,262.00                                                    2,352,720.58          0.00            0.00
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
                Non-                                            Remaining            Ending
             Supported                                           Unpaid           Certificate/
             Interest       Realized       Total Interest       Interest           Notational
   Class     Shortfall       Loss (4)        Distribution        Shortfall           Balance
----------------------------------------------------------------------------------------------
<S>          <C>            <C>            <C>                  <C>             <C>
    1A             0.00        0.00           956,765.15           0.00         757,276,884.45
   2A-1            0.00        0.00           219,537.34           0.00         176,473,931.77
   2A-2            0.00        0.00             5,191.67           0.00           3,500,000.00
   X-1A            0.00        0.00           381,605.10           0.00         359,476,911.14
   X-1B            0.00        0.00           486,156.20           0.00         397,799,973.31
    X-2            0.00        0.00           221,606.28           0.00         179,973,931.77
    X-B            0.00        0.00            18,596.85           0.00          25,725,000.00
    A-R            0.00        0.00                 0.00           0.00                   0.00
    B-1            0.00        0.00            19,950.00           0.00          12,600,000.00
    B-2            0.00        0.00            13,300.00           0.00           8,400,000.00
    B-3            0.00        0.00             9,843.75           0.00           4,725,000.00
    B-4            0.00        0.00             6,294.96           0.00           2,625,000.00
    B-5            0.00        0.00             5,035.97           0.00           2,100,000.00
    B-6            0.00        0.00             8,837.31           0.00           3,685,162.00
----------------------------------------------------------------------------------------------
  Totals           0.00        0.00         2,352,720.58           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
                                   Current         Beginning                               Unpaid            Current
   Class     Original Face       Certificate     Certificate/       Current Accrued       Interest           Interest
    (5)          Amount             Rate       Notional Balance        Interest           Shortfall          Shortfall
-----------------------------------------------------------------------------------------------------------------------
<S>          <C>                 <C>           <C>                  <C>                  <C>                 <C>
    1A       822,375,000.00        1.50000%       930.73369166         1.16341712         0.00000000         0.00000000
   2A-1      190,000,000.00        1.48000%       936.85918853         1.15545968         0.00000000         0.00000000
   2A-2        3,500,000.00        1.78000%      1000.00000000         1.48333429         0.00000000         0.00000000
   X-1A                0.00        1.26028%       924.65991521         0.97110468         0.00000000         0.00000000
   X-1B                0.00        1.45100%       936.29183208         1.13213552         0.00000000         0.00000000
    X-2                0.00        1.46514%       938.00127039         1.14525209         0.00000000         0.00000000
    X-B                0.00        0.86749%      1000.00000000         0.72290962         0.00000000         0.00000000
    A-R              100.00        3.37696%         0.00000000         0.00000000         0.00000000         0.00000000
    B-1       12,600,000.00        1.90000%      1000.00000000         1.58333333         0.00000000         0.00000000
    B-2        8,400,000.00        1.90000%      1000.00000000         1.58333333         0.00000000         0.00000000
    B-3        4,725,000.00        2.50000%      1000.00000000         2.08333333         0.00000000         0.00000000
    B-4        2,625,000.00        2.87770%      1000.00000000         2.39808000         0.00000000         0.00000000
    B-5        2,100,000.00        2.87770%      1000.00000000         2.39808095         0.00000000         0.00000000
    B-6        3,685,162.00        2.87770%      1000.00000000         2.39807911         0.00000000         0.00000000
</TABLE>

<TABLE>
<CAPTION>
               Non-                                                  Remaining
             Supported                                                Unpaid
   Class     Interest           Realized        Total Interest        Interest     Ending Certificate/
    (5)      Shortfall          Loss (6)         Distribution         Shortfall     Notational Balance
------------------------------------------------------------------------------------------------------
<S>          <C>                <C>             <C>                  <C>           <C>
    1A       0.00000000         0.00000000         1.16341712         0.00000000       920.84132476
   2A-1      0.00000000         0.00000000         1.15545968         0.00000000       928.81016721
   2A-2      0.00000000         0.00000000         1.48333429         0.00000000      1000.00000000
   X-1A      0.00000000         0.00000000         0.97110468         0.00000000       914.79309370
   X-1B      0.00000000         0.00000000         1.13213552         0.00000000       926.37608848
    X-2      0.00000000         0.00000000         1.14525209         0.00000000       930.09783860
    X-B      0.00000000         0.00000000         0.72290962         0.00000000      1000.00000000
    A-R      0.00000000         0.00000000         0.00000000         0.00000000         0.00000000
    B-1      0.00000000         0.00000000         1.58333333         0.00000000      1000.00000000
    B-2      0.00000000         0.00000000         1.58333333         0.00000000      1000.00000000
    B-3      0.00000000         0.00000000         2.08333333         0.00000000      1000.00000000
    B-4      0.00000000         0.00000000         2.39808000         0.00000000      1000.00000000
    B-5      0.00000000         0.00000000         2.39808095         0.00000000      1000.00000000
    B-6      0.00000000         0.00000000         2.39807911         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                  12,221,655.38
           Liquidations, Insurance Proceeds, Reserve Funds              0.00
           Proceeds from Repurchased Loans                              0.00
           Other Amounts (Servicer Advances)                        2,234.38
           Realized Losses                                              0.00
           Prepayment Penalties                                         0.00
                                                               -------------
Total Deposits                                                 12,223,889.76

Withdrawals
           Reimbursement for Servicer Advances                      2,234.38
           Payment of Service Fee                                 204,385.52
           Payment of Interest and Principal                   12,017,269.86
                                                               -------------
Total Withdrawals (Pool Distribution Amount)                   12,223,889.76

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                                            204,385.52
Supported Prepayment/Curtailment Interest Shortfall                  0.00
                                                               ----------

Net Servicing Fee                                              204,385.52
                                                               ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                    Beginning       Current      Current     Ending
            Account Type             Balance      Withdrawals    Deposits    Balance
-------------------------------------------------------------------------------------
<S>                                 <C>           <C>            <C>         <C>
Class X-A Basis Risk Reserve Fund     8,000.00         0.00         0.00     8,000.00
Class X-B Basis Risk Reserve Fund     2,000.00         0.00         0.00     2,000.00
</TABLE>



             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
                        DELINQUENT                                  BANKRUPTCY                             FORECLOSURE
---------------------------------------------------------------------------------------------------------------------------
                   No. of       Principal                      No. of     Principal                    No. of     Principal
                   Loans         Balance                       Loans       Balance                     Loans       Balance
<S>              <C>           <C>             <C>            <C>         <C>           <C>           <C>         <C>
0-29 Days            0               0.00      0-29 Days          0           0.00      0-29 Days         0           0.00
30 Days              1         825,000.00        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         825,000.00                         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          0.038640%       0.084930%     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%
                 ------------------------                     --------------------                    --------------------
                 0.038640%       0.084930%                    0.000000%   0.000000%                   0.000000%   0.000000%
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------
                         REO                                     TOTAL
---------------------------------------------------------------------------------
                  No. of     Principal                    No. of        Principal
                  Loans       Balance                     Loans          Balance
<S>              <C>         <C>           <C>           <C>           <C>
0-29 Days            0           0.00      0-29 Days         0               0.00
  30 Days            0           0.00        30 Days         1         825,000.00
  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         825,000.00

                  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       0.038640%       0.084930%
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%                   0.038640%       0.084930%
</TABLE>

Current Period Class A Insufficient Funds:                                  0.00

Principal Balance of Contaminated Properties                                0.00

Periodic Advance                                                        2,234.38
<PAGE>
Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage

<TABLE>
<CAPTION>
                   Original $           Original %         Current $            Current %         Current Class %     Prepayment %
                   ----------           ----------         ---------            ---------         ---------------     ------------
<S>             <C>                     <C>              <C>                  <C>                 <C>                 <C>
    Class A     1,050,010,162.00        99.99999048%     971,385,978.22       100.00000000%          96.485932%           0.000000%
   Class 1A       227,635,162.00        21.67932736%     214,109,093.77        22.04160844%          77.958392%       2,218.465770%
  Class 2-A-1      37,635,162.00         3.58426611%      37,635,162.00         3.87437773%          18.167231%         516.985775%
  Class 2-A-2      34,135,162.00         3.25093604%      34,135,162.00         3.51406781%           0.360310%          10.253357%
   Class X-2       34,135,162.00         3.25093604%      34,135,162.00         3.51406781%           0.000000%           0.000000%
   Class B-1       21,535,162.00         2.05094776%      21,535,162.00         2.21695212%           1.297116%          36.912085%
   Class B-2       13,135,162.00         1.25095558%      13,135,162.00         1.35220832%           0.864744%          24.608057%
   Class B-3        8,410,162.00         0.80095998%       8,410,162.00         0.86578993%           0.486418%          13.842032%
   Class B-4        5,785,162.00         0.55096242%       5,785,162.00         0.59555750%           0.270232%           7.690018%
   Class B-5        3,685,162.00         0.35096438%       3,685,162.00         0.37937155%           0.216186%           6.152014%
   Class B-6                0.00         0.00000000%               0.00         0.00000000%           0.379372%          10.795795%
</TABLE>

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

<TABLE>
<CAPTION>
                        Original $              Original %              Current $               Current %
                        ----------              ----------              ---------               ---------
<S>                   <C>                       <C>                   <C>                      <C>
     Bankruptcy          163,046.00             0.01552804%              163,046.00            0.01678488%
          Fraud       31,500,308.00             3.00000001%           31,500,308.00            3.24282095%
 Special Hazard       11,240,000.00             1.07046573%           10,956,260.08            1.12789976%
</TABLE>

Limit of subordinate's exposure to certain types of losses
<PAGE>
                           DELINQUENCY STATUS BY GROUP

                                     GROUP 1

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
                 DELINQUENT                                   BANKRUPTCY                               FORECLOSURE
---------------------------------------------------------------------------------------------------------------------------
                  No. of       Principal                       No. of       Principal                  No. of     Principal
                  Loans         Balance                        Loans         Balance                   Loans        Balance
<S>              <C>           <C>             <C>            <C>           <C>         <C>           <C>         <C>
0-29 Days            0               0.00      0-29 Days          0           0.00      0-29 Days         0           0.00
30 Days              1         825,000.00      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         825,000.00                         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          0.048900%       0.105108%     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%
                 ------------------------                     --------------------                    --------------------
                 0.048900%       0.105108%                    0.000000%     0.000000%                 0.000000%   0.000000%
</TABLE>


<TABLE>
<CAPTION>
---------------------------------------------------------------------------------
                       REO                                    TOTAL
---------------------------------------------------------------------------------
                  No. of     Principal                  No. of        Principal
                  Loans       Balance                   Loans          Balance
<S>              <C>         <C>           <C>           <C>          <C>
0-29 Days             0          0.00      0-29 Days         0              0.00
30 Days              0.          0.00      30 Days           1        825,000.00
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        825,000.00

                  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       0.048900%      0.105108%
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%                   0.048900%      0.105108%
</TABLE>


                                     GROUP 2


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

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

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


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

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

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

<TABLE>
<S>                                                            <C>
Collateral Description                                              Mixed ARM

Weighted Average Gross Coupon                                        3.127797%
Weighted Average Net Coupon                                          2.877797%
Weighted Average Pass-Through Rate                                   2.877797%
Weighted Average Maturity (Stepdown Calculation)                          288

Beginning Scheduled Collateral Loan Count                               2,625
Number of Loans Paid in Full                                               37
Ending Scheduled Collateral Loan Count                                  2,588

Beginning Scheduled Collateral Balance                         981,050,527.50
Ending Scheduled Collateral Balance                            971,385,978.22
Ending Actual Collateral Balance at 30-July-2003               971,385,978.99

Monthly P&I Constant                                             2,557,106.09
Special Servicing Fee                                                    0.00
Prepayment Penalties                                                     0.00
Realization Loss Amount                                                  0.00
Cumulative Realized Loss                                                 0.00

Class A Optimal Amount                                          11,935,411.01

Ending Scheduled Balance for Premium Loans                     971,385,978.22

Scheduled Principal                                                      0.00
Unscheduled Principal                                            9,664,549.28
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                    GROUP                                   1                      2                        TOTAL
                    -----                                   -                      -                        -----
<S>                                                 <C>                     <C>                          <C>
Collateral Description                                   Mixed ARM             6 Month ARM                    Mixed ARM
Weighted Average Coupon Rate                              3.110461                3.200924                     3.127797
Weighted Average Net Rate                                 2.860461                2.950924                     2.877797
Pass-Through Rate                                         2.860461                2.950924                     2.877797
Weighted Average Maturity                                      288                     288                          288
Record Date                                             07/31/2003              07/31/2003                   07/31/2003
Principal and Interest Constant                       2,055,610.85              501,495.24                 2,557,106.09
Beginning Loan Count                                         2,077                     548                        2,625
Loans Paid in Full                                              32                       5                           37
Ending Loan Count                                            2,045                     543                        2,588
Beginning Scheduled Balance                         793,044,116.68          188,006,410.82               981,050,527.50
Ending Scheduled Balance                            784,908,881.45          186,477,096.77               971,385,978.22
Scheduled Principal                                           0.00                    0.00                         0.00
Unscheduled Principal                                 8,135,235.23            1,529,314.05                 9,664,549.28
Scheduled Interest                                    2,055,610.85              501,495.24                 2,557,106.09
Servicing Fee                                           165,217.53               39,167.99                   204,385.52
Master Servicing Fee                                          0.00                    0.00                         0.00
Trustee Fee                                                   0.00                    0.00                         0.00
FRY Amount                                                    0.00                    0.00                         0.00
Special Hazard Fee                                            0.00                    0.00                         0.00
Other Fee                                                     0.00                    0.00                         0.00
Pool Insurance Fee                                            0.00                    0.00                         0.00
Spread 1                                                      0.00                    0.00                         0.00
Spread 2                                                      0.00                    0.00                         0.00
Spread 3                                                      0.00                    0.00                         0.00
Net Interest                                          1,890,393.32              462,327.25                 2,352,720.57
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

Group 1

<TABLE>
<S>                                                <C>
One Month LIBOR Loans                              372,593,731.60
Six Month LIBOR Loans                              412,315,149.85
Pro Rata Senior Percentage                              96.515705%
Senior Percentage                                      100.000000%
Senior Prepayment Percentage                           100.000000%
Subordinate Percentage                                   0.000000%
Subordinate Prepayment Percentage                        0.000000%
</TABLE>


Group 2

<TABLE>
<S>                                                <C>
Pro Rata Senior Percentage                              96.540988%
Senior Percentage                                      100.000000%
Senior Prepayment Percentage                           100.000000%
Subordinate Percentage                                   0.000000%
Subordinate Prepayment Percentage                        0.000000%
</TABLE>