<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 2002-9
                           RECORD DATE: JULY 31, 2003
                       DISTRIBUTION DATE: AUGUST 20, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                   Certificate                             Beginning
                                      Class       Certificate Pass-       Certificate           Interest           Principal
 Class             CUSIP           Description       Through Rate           Balance           Distribution        Distribution
---------------------------------------------------------------------------------------------------------------------------------
<S>              <C>               <C>            <C>                     <C>                 <C>                 <C>
   1A            81743SAA8             SEN                  1.45000%       356,844,205.99          431,186.75        4,828,990.11
   2A            81743SAB6             SEN                  2.85125%       138,194,418.40          328,356.02        4,232,851.08
  X-1A           81743SAC4             IO                   1.25145%                 0.00          199,353.49                0.00
  X-1B           81743SAD2             IO                   1.15764%                 0.00          159,837.51                0.00
  X-B            81743SAE0             IO                   0.86720%                 0.00            5,565.98                0.00
  A-R            81743SAF7             SEN                  3.16071%                 0.00                0.00                0.00
  B-1            81743SAG5             SUB                  1.85000%         7,702,000.00           11,873.92                0.00
  B-2            81743SAH3             SUB                  2.71720%         4,564,000.00           10,334.42                0.00
  B-3            81743SAJ9             SUB                  2.71720%         3,424,000.00            7,753.08                0.00
  B-4            SMT0209B4             SUB                  2.71720%         1,426,000.00            3,228.94                0.00
  B-5            SMR0209B5             SUB                  2.71720%           856,000.00            1,938.27                0.00
  B-6            SMT0209B6             SUB                  2.71720%         1,997,086.78            4,522.07                0.00
---------------------------------------------------------------------------------------------------------------------------------
Totals                                                                     515,007,711.17        1,163,950.45        9,061,841.19
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------
                                        Ending
                   Current           Certificate             Total             Cumulative
 Class          Realized Loss          Balance           Distribution        Realized Loss
---------------------------------------------------------------------------------------------
<S>             <C>                  <C>                 <C>                 <C>
   1A                       0.00      352,015,215.88         5,260,176.86                0.00
   2A                       0.00      133,961,567.32         4,561,207.10                0.00
  X-1A                      0.00                0.00           199,353.49                0.00
  X-1B                      0.00                0.00           159,837.51                0.00
  X-B                       0.00                0.00             5,565.98                0.00
  A-R                       0.00                0.00                 0.00                0.00
  B-1                       0.00        7,702,000.00            11,873.92                0.00
  B-2                       0.00        4,564,000.00            10,334.42                0.00
  B-3                       0.00        3,424,000.00             7,753.08                0.00
  B-4                       0.00        1,426,000.00             3,228.94                0.00
  B-5                       0.00          856,000.00             1,938.27                0.00
  B-6                       0.00        1,997,086.78             4,522.07                0.00
---------------------------------------------------------------------------------------------
Totals                      0.00      505,945,869.98        10,225,791.64                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            381,698,000.00      356,844,205.99              0.00        4,828,990.10          0.00             0.00
   2A            168,875,000.00      138,194,148.40              0.00        4,232,851.08          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-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              7,702,000.00        7,702,000.00              0.00                0.00          0.00             0.00
  B-2              4,564,000.00        4,564,000.00              0.00                0.00          0.00             0.00
  B-3              3,424,000.00        3,424,000.00              0.00                0.00          0.00             0.00
  B-4              1,426,000.00        1,426,000.00              0.00                0.00          0.00             0.00
  B-5                856,000.00          856,000.00              0.00                0.00          0.00             0.00
  B-6              1,997,086.78        1,997,086.78              0.00                0.00          0.00             0.00
------------------------------------------------------------------------------------------------------------------------
Totals           570,533,186.78      515,007,711.17              0.00        9,061,841.18          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                4,828,990.11        352,015,215.88             0.92225664           4,828,990.11
   2A                4,232,851.08        133,961,567.32             0.79325873           4,232,851.08
  X-1A                       0.00                  0.00             0.00000000                   0.00
  X-1B                       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          7,702,000.00             1.00000000                   0.00
  B-2                        0.00          4,564,000.00             1.00000000                   0.00
  B-3                        0.00          3,424,000.00             1.00000000                   0.00
  B-4                        0.00          1,426,000.00             1.00000000                   0.00
  B-5                        0.00            856,000.00             1.00000000                   0.00
  B-6                        0.00          1,997,086.78             1.00000000                   0.00
-----------------------------------------------------------------------------------------------------
Totals               9,061,841.19        505,945,869.98             0.88679481           9,061,841.19
-----------------------------------------------------------------------------------------------------
</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
 Class             Amount              Balance          Distribution       Distribution     Accretion          Loss (3)
------------------------------------------------------------------------------------------------------------------------
<S>            <C>                  <C>                 <C>                <C>              <C>               <C>
   1A          381,698,000.00        934.90827870        0.00000000         12.65163549     0.00000000        0.00000000
   2A          168,875,000.00        818.32372110        0.00000000         25.06499529     0.00000000        0.00000000
  X-1A                   0.00          0.00000000        0.00000000          0.00000000     0.00000000        0.00000000
  X-1B                   0.00          0.00000000        0.00000000          0.00000000     0.00000000        0.00000000
  X-B                    0.00          0.00000000        0.00000000          0.00000000     0.00000000        0.00000000
  A-R                  100.00          0.00000000        0.00000000          0.00000000     0.00000000        0.00000000
  B-1            7,702,000.00       1000.00000000        0.00000000          0.00000000     0.00000000        0.00000000
  B-2            4,564,000.00       1000.00000000        0.00000000          0.00000000     0.00000000        0.00000000
  B-3            3,424,000.00       1000.00000000        0.00000000          0.00000000     0.00000000        0.00000000
  B-4            1,426,000.00       1000.00000000        0.00000000          0.00000000     0.00000000        0.00000000
  B-5              856,000.00       1000.00000000        0.00000000          0.00000000     0.00000000        0.00000000
  B-6            1,997,086.78       1000.00000000        0.00000000          0.00000000     0.00000000        0.00000000
------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------
               Total Principal     Ending Certificate      Ending Certificate     Total Principal
 Class             Reduction             Balance                Percentage          Distribution
--------------------------------------------------------------------------------------------------
<S>            <C>                 <C>                     <C>                    <C>
   1A             12.65163552          922.25664318             0.92225664             12.65163552
   2A             25.06499529          793.25872580             0.79325873             25.06499529
  X-1A             0.00000000            0.00000000             0.00000000              0.00000000
  X-1B             0.00000000            0.00000000             0.00000000              0.00000000
  X-B              0.00000000            0.00000000             0.00000000              0.00000000
  A-R              0.00000000            0.00000000             0.00000000              0.00000000
  B-1              0.00000000         1000.00000000             1.00000000              0.00000000
  B-2              0.00000000         1000.00000000             1.00000000              0.00000000
  B-3              0.00000000         1000.00000000             1.00000000              0.00000000
  B-4              0.00000000         1000.00000000             1.00000000              0.00000000
  B-5              0.00000000         1000.00000000             1.00000000              0.00000000
  B-6              0.00000000         1000.00000000             1.00000000              0.00000000
--------------------------------------------------------------------------------------------------
</TABLE>

(3) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.
<PAGE>
                        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             381,698,000.00            1.45000%      356,844,205.99        431,186.75            0.00             0.00
  2A             168,875,000.00            2.85125%      138,194,418.40        328,356.02            0.00             0.00
 X-1A                      0.00            1.25145%      191,158,118.00        199,353.49            0.00             0.00
 X-1B                      0.00            1.15764%      165,686,087.99        159,837.51            0.00             0.00
  X-B                      0.00            0.86720%        7,702,000.00          5,565.98            0.00             0.00
  A-R                    100.00            3.16071%                0.00              0.00            0.00             0.00
  B-1              7,702,000.00            1.85000%        7,702,000.00         11,873.92            0.00             0.00
  B-2              4,564,000.00            2.71720%        4,564,000.00         10,334.42            0.00             0.00
  B-3              3,424,000.00            2.71720%        3,424,000.00          7,753.08            0.00             0.00
  B-4              1,426,000.00            2.71720%        1,426,000.00          3,228.94            0.00             0.00
  B-5                856,000.00            2.71720%          856,000.00          1,938.27            0.00             0.00
  B-6              1,997,086.78            2.71720%        1,997,086.78          4,522.07            0.00             0.00
--------------------------------------------------------------------------------------------------------------------------
Totals           570,533,186.78                                              1,163,950.45            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         431,186.75             0.00        352,015,215.88
  2A                 0.00           0.00         328,356.02             0.00        133,961,567.32
 X-1A                0.00           0.00         199,353.49             0.00        188,045,616.75
 X-1B                0.00           0.00         159,837.51             0.00        163,969,599.13
  X-B                0.00           0.00           5,565.98             0.00          7,702,000.00
  A-R                0.00           0.00               0.00             0.00                  0.00
  B-1                0.00           0.00          11,873.92             0.00          7,702,000.00
  B-2                0.00           0.00          10,334.42             0.00          4,564,000.00
  B-3                0.00           0.00           7,753.08             0.00          3,424,000.00
  B-4                0.00           0.00           3,228.94             0.00          1,426,000.00
  B-5                0.00           0.00           1,938.27             0.00            856,000.00
  B-6                0.00           0.00           4,522.07             0.00          1,997,086.78
--------------------------------------------------------------------------------------------------
Totals               0.00           0.00       1,163,950.45             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
                 Original Face    Certificate        Certificate/        Current Accrued      Interest        Interest
 Class (5)           Amount          Rate         Notional Balance          Interest         Shortfall       Shortfall
-----------------------------------------------------------------------------------------------------------------------
<S>             <C>               <C>             <C>                    <C>                 <C>             <C>
     1A         381,698,000.00      1.45000%          934.90827870           1.12968084      0.00000000      0.00000000
     2A         168,875,000.00      2.85125%          818.32372110           1.94437318      0.00000000      0.00000000
    X-1A                  0.00      1.25145%          938.12360950           0.97834305      0.00000000      0.00000000
    X-1B                  0.00      1.15764%          931.22590935           0.89835443      0.00000000      0.00000000
    X-B                   0.00      0.86720%         1000.00000000           0.72266684      0.00000000      0.00000000
    A-R                 100.00      3.16071%            0.00000000           0.00000000      0.00000000      0.00000000
    B-1           7,702,000.00      1.85000%         1000.00000000           1.54166710      0.00000000      0.00000000
    B-2           4,564,000.00      2.71720%         1000.00000000           2.26433392      0.00000000      0.00000000
    B-3           3,424,000.00      2.71720%         1000.00000000           2.26433411      0.00000000      0.00000000
    B-4           1,426,000.00      2.71720%         1000.00000000           2.26433380      0.00000000      0.00000000
    B-5             856,000.00      2.71720%         1000.00000000           2.26433411      0.00000000      0.00000000
    B-6           1,997,086.78      2.71720%         1000.00000000           2.26433325      0.00000000      0.00000000
-----------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
                  Non-                                                 Remaining
                Supported                                               Unpaid
                Interest            Realized        Total Interest      Interest      Ending Certificate/
 Class (5)      Shortfall           Loss (6)         Distribution      Shortfall      Notational Balance
---------------------------------------------------------------------------------------------------------
<S>             <C>                <C>              <C>                <C>            <C>
     1A          0.00000000        0.00000000          1.12968084      0.00000000            922.25664318
     2A          0.00000000        0.00000000          1.94437318      0.00000000            793.25872580
    X-1A         0.00000000        0.00000000          0.97834305      0.00000000            922.84876301
    X-1B         0.00000000        0.00000000          0.89835443      0.00000000            921.57851579
    X-B          0.00000000        0.00000000          0.72266684      0.00000000           1000.00000000
    A-R          0.00000000        0.00000000          0.00000000      0.00000000              0.00000000
    B-1          0.00000000        0.00000000          1.54166710      0.00000000           1000.00000000
    B-2          0.00000000        0.00000000          2.26433392      0.00000000           1000.00000000
    B-3          0.00000000        0.00000000          2.26433411      0.00000000           1000.00000000
    B-4          0.00000000        0.00000000          2.26433380      0.00000000           1000.00000000
    B-5          0.00000000        0.00000000          2.26433411      0.00000000           1000.00000000
    B-6          0.00000000        0.00000000          2.26433325      0.00000000           1000.00000000
---------------------------------------------------------------------------------------------------------
</TABLE>

(5) Per $1 denomination
(6) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.
<PAGE>
                      CERTIFICATEHOLDER ACCOUNT STATEMENT

                              CERTIFICATE ACCOUNT

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

Deposits

           Payments of Interest and Principal                      10,362,352.11
           Liquidations, Insurance Proceeds, Reserve Funds                  0.00
           Proceeds from Repurchased Loans                                  0.00
           Other Amounts (Servicer Advances)                           29,590.61
           Realized Losses                                                  0.00
           Prepayment Penalties                                             0.00
                                                               -----------------
Total Deposits                                                     10,391,942.72

Withdrawals

           Reimbursement for Servicer Advances                          1,129.88
           Payment of Service Fee                                     165,021.21
           Payment of Interest and Principal                       10,225,791.63
                                                               -----------------
Total Withdrawals (Pool Distribution Amount)                       10,391,942.72

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                                                   161,158.65
Master Servicing Fee                                                    3,862.56
Supported Prepayment/Curtailment Interest Shortfall                         0.00
                                                               -----------------

Net Servicing Fee                                                     165,021.21
                                                               =================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
                                      Beginning            Current             Current          Ending
        Account Type                   Balance           Withdrawals           Deposits         Balance
-------------------------------------------------------------------------------------------------------
<S>                                   <C>                <C>                   <C>             <C>
X-1 Basis Risk Reserve Fund           5,000.00               0.00                0.00          5,000.00
X-2 Basis Risk Reserve Fund           5,000.00               0.00                0.00          5,000.00
-------------------------------------------------------------------------------------------------------
</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             33            12,193,548.95  30 Days           0                 0.00  30 Days           0                  0.00
60 Days              0                     0.00  60 Days           0                 0.00  60 Days           0                  0.00
90 Days              1               451,952.78  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
                 ------------------------------                --------------------------                ---------------------------
                    34            12,645,501.73                    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          2.398256%        2.410079%      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          0.072674%        0.089329%      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%
                 ------------------------------                --------------------------                ---------------------------
                 2.470930%        2.499408%                    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          33           12,193,548.95
60 Days             0                 0.00  60 Days           0                    0.00
90 Days             0                 0.00  90 Days           1              451,952.78
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                   34           12,645,501.73

                  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       2.398256%       2.410079%
60 Days         0.000000%      0.000000%    60 Days       0.000000%       0.000000%
90 Days         0.000000%      0.000000%    90 Days       0.072674%       0.089329%
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%                  2.470930%       2.499408%
</TABLE>

Current Period Class A Insufficient Funds:                                  0.00

Principal Balance of Contaminated Properties                                0.00

Periodic Advance                                                       29,590.61
<PAGE>
<TABLE>
<CAPTION>
                  Original $       Original %        Current $        Current %     Current Class %     Prepayment %
                --------------    ------------    --------------    -------------   ---------------    -------------
<S>             <C>               <C>             <C>               <C>             <C>                <C>
 Class A        570,533,086.78    99.99998247%    505,945,869.98    100.00000000%      96.053118%          0.000000%
Class 1A        188,844,086.78    33.09957968%    153,930,654.10     30.42433257%      69.575667%      1,762.800772%
Class 2A         19,969,086.78     3.50007453%     19,969,086.78      3.94688206%      26.477451%        670.844735%
Class B-1        12,267,086.78     2.15010924%     12,267,086.78      2.42458482%       1.522297%         38.569616%
Class B-2         7,703,086.78     1.35015578%      7,703,086.78      1.52251204%       0.902073%         22.855327%
Class B-3         4,279,086.78     0.75001540%      4,279,086.78      0.84575980%       0.676752%         17.146503%
Class B-4         2,853,086.78     0.50007376%      2,853,086.78      0.56391147%       0.281848%          7.141038%
Class B-5         1,997,086.78     0.35003867%      1,997,086.78      0.39472341%       0.169188%          4.286626%
Class B-6                 0.00     0.00000000%              0.00      0.00000000%       0.394723%         10.000892%
</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        100,000.00    0.01752746%       100,000.00    0.01976496%
         Fraud     17,115,996.00    3.00000007%    17,115,996.00    3.38296980%
Special Hazard      6,000,000.00    1.05164785%     5,998,488.72    1.18559891%
--------------------------------------------------------------------------------
</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               11        3,453,565.46  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               1           451,952.78  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
                 ---------------------------                --------------------------                 -------------------------
                     12         3,905,518.24                    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           1.145833%      0.943961%    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           0.104167%      0.123532%    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%
                 ---------------------------                --------------------------                 -------------------------
                  1.250000%      1.067493%                  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            11        3,453,565.46
60 Days               0                0.00  60 Days            0                 0.00
90 Days               0                0.00  90 Days            1           451,952.78
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                     12        3,905,518.24

                    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        1.145833%      0.943961%
60 Days           0.000000%     0.000000%    60 Days        0.000000%      0.000000%
90 Days           0.000000%     0.000000%    90 Days        0.104167%      0.123532%
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%                   1.250000%      1.067493%
</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             22          8,739,983.49  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
                ----------------------------                 --------------------------                 -------------------------
                    22          8,739,983.49                     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         5.288462%       6.239238%     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%
                ---------------------------                  --------------------------                 -------------------------
                5.288462%       6.239238%                    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            22          8,739,983.49
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                     22          8,739,983.49

                    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        5.288462%       6.239238%
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%                   5.288462%       6.239238%
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                          3.096587%
Weighted Average Net Coupon                                            2.721077%
Weighted Average Pass-Through Rate                                     2.712077%
Weighted Average Maturity (Stepdown Calculation)                             321

Beginning Scheduled Collateral Loan Count                                  1,400
Number of Loans Paid in Full                                                  24
Ending Scheduled Collateral Loan Count                                     1,376

Beginning Scheduled Collateral Balance                            515,007,711.18
Ending Scheduled Collateral Balance                               505,945,869.99
Ending Actual Collateral Balance at 30-July-2003                  505,939,853.33

Monthly P&I Constant                                                1,328,971.67
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realization Loss Amount                                                     0.00
Cumulative Realized Loss                                                    0.00

Class A Optimal Amount                                             10,180,574.96

Ending Scheduled Balance for Premium Loans                        505,945,869.99

Scheduled Principal                                                         0.01
Unscheduled Principal                                               9,061,841.18
</TABLE>

                            MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                  <C>
Pro Rata Senior Percent                                               96.122565%
Senior Percentage                                                    100.000000%
Senior Prepay Percentage                                             100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Prepayment Percentage                                      0.000000%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                    GROUP                    1                   2              TOTAL
<S>                                   <C>                 <C>               <C>
Collateral Description                     Mixed ARM         6 Month ARM         Mixed ARM
Weighted Average Coupon Rate                3.042600            3.235253          3.096587
Weighted Average Net Rate                   2.666892            2.860253          2.721077
Pass-Through Rate                           2.657892            2.851253          2.712077
Weighted Average Maturity                        305                 347               321
Record Date                               07/31/2003          07/31/2003        07/31/2003
Principal and Interest Constant           939,880.17          389,091.50      1,328,971.67
Beginning Loan Count                             972                 428             1,400
Loans Paid in Full                                12                  12                24
Ending Loan Count                                960                 416             1,376
Beginning Scheduled Balance           370,688,292.78      144,319,418.40    515,007,711.18
Ending Scheduled Balance              365,859,302.67      140,086,567.32    505,945,869.99
Scheduled Principal                             0.01                0.00              0.01
Unscheduled Principal                   4,828,990.10        4,232,851.08      9,061,841.18
Scheduled Interest                        939,880.16          389,091.50      1,328,971.66
Servicing Fee                             116,058.83           45,099.82        161,158.65
Master Servicing Fee                        2,780.16            1,082.40          3,862.56
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                              821,041.17          342,909.28      1,163,950.45
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>

                            MISCELLANEOUS REPORTING

<TABLE>
<CAPTION>
Group 1
<S>                                                               <C>
One Month LIBOR Loans                                             195,441,092.06
Six Month LIBOR Loans                                             170,418,210.61
</TABLE>