<PAGE>

                                                                    EXHIBIT 10.1

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

                                SMT SERIES 2003-4
                           RECORD DATE: JULY 31, 2003
                       DISTRIBUTION DATE: AUGUST 20, 2003


                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY
<TABLE>
<CAPTION>
                          Certificate                               Beginning
                             Class            Certificate          Certificate           Interest           Principal
Class         CUSIP       Description      Pass-Through Rate         Balance           Distribution        Distribution
-----------------------------------------------------------------------------------------------------------------------
<S>         <C>           <C>              <C>                   <C>                  <C>                 <C>
1-A-1       81743PBH8         SEN                1.41000%        148,641,000.00         122,257.22          392,846.40
1-A-2       81743PBJ4         SEN                1.45375%        150,000,000.00         127,203.12          259,896.70
1-X-1A      81743PBM7         IO                 1.48492%                  0.00          87,067.22                0.00
1-X-1B      81743PBN5         IO                 1.48890%                  0.00          97,125.50                0.00
1-X-2       81743PBP0         IO                 1.45467%                  0.00         181,833.89                0.00
1-X-B       81743PBQ8         IO                 1.24815%                  0.00           4,019.05                0.00
1-A-R       81743PBL9          R                 2.47401%                100.00               0.21              100.00
1-B-1       81743PBK1         SUB                1.75000%          3,864,000.00           3,944.50                0.00
1-B-2       81743PBR6         SUB                2.47315%          2,628,000.00           5,416.20                0.00
1-B-3       81743PBS4         SUB                2.47315%          1,546,000.00           3,186.24                0.00
1-B-4       81743PBT2         SUB                2.47315%            773,000.00           1,593.12                0.00
1-B-5       81743PBU9         SUB                2.47315%            464,000.00             956.29                0.00
1-B-6       81743PBV7         SUB                2.47315%          1,236,668.87           2,548.72                0.00
2-A-1       81743PBW5         SEN                1.45000%        189,415,000.00         160,213.52        1,402,065.48
2-M-1       81743PBX3         MEZ                1.57000%          9,986,000.00           9,145.51                0.00
2-X-1       81743PCA2         IO                 1.40638%                  0.00         221,991.14                0.00
2-X-M       81743PCB0         IO                 1.32238%                  0.00          11,004.40                0.00
2-X-B       81743PCC8         IO                 1.19638%                  0.00           2,359.86                0.00
2-A-R       81743PBZ8          R                 2.42138%                100.00               0.20              100.00
2-B-1       81743PBY1         SUB                1.75000%          2,367,000.00           2,416.31                0.00
2-B-2       81743PCD6         SUB                2.42138%            824,000.00           1,662.68                0.00
2-B-3       81743PCE4         SUB                2.42138%          1,235,000.00           2,492.00                0.00
2-B-4       81743PCF1         SUB                2.42138%            618,000.00           1,247.01                0.00
2-B-5       81743PCG9         SUB                2.42138%            515,000.00           1,039.18                0.00
2-B-6       81743PCH7         SUB                2.42138%            926,589.00           1,869.69                0.00
-----------------------------------------------------------------------------------------------------------------------
Totals                                                           515,039,457.87       1,052,592.78        2,055,008.58
-----------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

               Current      Ending Certificate            Total             Cumulative
Class       Realized Loss         Balance             Distribution         Realized Loss
----------------------------------------------------------------------------------------
<S>         <C>             <C>                      <C>                   <C>
1-A-1            0.00         148,248,153.60           515,103.62                0.00
1-A-2            0.00         149,740,103.30           387,099.82                0.00
1-X-1A           0.00                   0.00            87,067.22                0.00
1-X-1B           0.00                   0.00            97,125.50                0.00
1-X-2            0.00                   0.00           181,833.89                0.00
1-X-B            0.00                   0.00             4,019.05                0.00
1-A-R            0.00                   0.00               100.21                0.00
1-B-1            0.00           3,864,000.00             3,944.50                0.00
1-B-2            0.00           2,628,000.00             5,416.20                0.00
1-B-3            0.00           1,546,000.00             3,186.24                0.00
1-B-4            0.00             773,000.00             1,593.12                0.00
1-B-5            0.00             464,000.00               956.29                0.00
1-B-6            0.00           1,236,668.87             2,548.72                0.00
2-A-1            0.00         188,012,934.52         1,562,279.00                0.00
2-M-1            0.00           9,986,000.00             9,145.51                0.00
2-X-1            0.00                   0.00           221,991.14                0.00
2-X-M            0.00                   0.00            11,004.40                0.00
2-X-B            0.00                   0.00             2,359.86                0.00
2-A-R            0.00                   0.00               100.20                0.00
2-B-1            0.00           2,367,000.00             2,416.31                0.00
2-B-2            0.00             824,000.00             1,662.68                0.00
2-B-3            0.00           1,235,000.00             2,492.00                0.00
2-B-4            0.00             618,000.00             1,247.01                0.00
2-B-5            0.00             515,000.00             1,039.18                0.00
2-B-6            0.00             926,589.00             1,869.69                0.00
----------------------------------------------------------------------------------------
Totals           0.00         512,984,449.29         3,107,601.36                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>
   1-A-1            148,641,000.00        148,641,000.00              0.00           392,846.40          0.00           0.00
   1-A-2            150,000,000.00        150,000,000.00              0.00           259,896.70          0.00           0.00
   1-X-1A                     0.00                  0.00              0.00                 0.00          0.00           0.00
   1-X-1B                     0.00                  0.00              0.00                 0.00          0.00           0.00
   1-X-2                      0.00                  0.00              0.00                 0.00          0.00           0.00
   1-X-B                      0.00                  0.00              0.00                 0.00          0.00           0.00
   1-A-R                    100.00                100.00              0.00               100.00          0.00           0.00
   1-B-1              3,864,000.00          3,864,000.00              0.00                 0.00          0.00           0.00
   1-B-2              2,628,000.00          2,628,000.00              0.00                 0.00          0.00           0.00
   1-B-3              1,546,000.00          1,546,000.00              0.00                 0.00          0.00           0.00
   1-B-4                773,000.00            773,000.00              0.00                 0.00          0.00           0.00
   1-B-5                464,000.00            464,000.00              0.00                 0.00          0.00           0.00
   1-B-6              1,236,668.87          1,236,668.87              0.00                 0.00          0.00           0.00
   2-A-1            189,415,000.00        189,415,000.00         10,101.89         1,391,963.59          0.00           0.00
   2-M-1              9,986,000.00          9,986,000.00              0.00                 0.00          0.00           0.00
   2-X-1                      0.00                  0.00              0.00                 0.00          0.00           0.00
   2-X-M                      0.00                  0.00              0.00                 0.00          0.00           0.00
   2-X-B                      0.00                  0.00              0.00                 0.00          0.00           0.00
   2-A-R                    100.00                100.00              0.72                99.28          0.00           0.00
   2-B-1              2,367,000.00          2,367,000.00              0.00                 0.00          0.00           0.00
   2-B-2                824,000.00            824,000.00              0.00                 0.00          0.00           0.00
   2-B-3              1,235,000.00          1,235,000.00              0.00                 0.00          0.00           0.00
   2-B-4                618,000.00            618,000.00              0.00                 0.00          0.00           0.00
   2-B-5                515,000.00            515,000.00              0.00                 0.00          0.00           0.00
   2-B-6                926,589.00            926,589.00              0.00                 0.00          0.00           0.00
------------------------------------------------------------------------------------------------------------------------------
Totals              515,039,457.87        515,039,457.87         10,102.61         2,044,905.97          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>
   1-A-1        392,846.40        148,248,153.60             0.97735708             392,846.40
   1-A-2        259,896.70        149,740,103.30             0.99826736             259,896.70
   1-X-1A             0.00                  0.00             0.00000000                   0.00
   1-X-1B             0.00                  0.00             0.00000000                   0.00
   1-X-2              0.00                  0.00             0.00000000                   0.00
   1-X-B              0.00                  0.00             0.00000000                   0.00
   1-A-R            100.00                  0.00             0.00000000                 100.00
   1-B-1              0.00          3,864,000.00             1.00000000                   0.00
   1-B-2              0.00          2,628,000.00             1.00000000                   0.00
   1-B-3              0.00          1,546,000.00             1.00000000                   0.00
   1-B-4              0.00            773,000.00             1.00000000                   0.00
   1-B-5              0.00            464,000.00             1.00000000                   0.00
   1-B-6              0.00          1,236,668.87             1.00000000                   0.00
   2-A-1      1,402,065.48        188,012,934.52             0.99259792           1,402,065.48
   2-M-1              0.00          9,986,000.00             1.00000000                   0.00
   2-X-1              0.00                  0.00             0.00000000                   0.00
   2-X-M              0.00                  0.00             0.00000000                   0.00
   2-X-B              0.00                  0.00             0.00000000                   0.00
   2-A-R            100.00                  0.00             0.00000000                 100.00
   2-B-1              0.00          2,367,000.00             1.00000000                   0.00
   2-B-2              0.00            824,000.00             1.00000000                   0.00
   2-B-3              0.00          1,235,000.00             1.00000000                   0.00
   2-B-4              0.00            618,000.00             1.00000000                   0.00
   2-B-5              0.00            515,000.00             1.00000000                   0.00
   2-B-6              0.00            926,589.00             1.00000000                   0.00
------------------------------------------------------------------------------------------------
Totals        2,055,008.58        512,984,449.29             0.99601000           2,055,008.58
------------------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                          Beginning         Scheduled           Unscheduled
                    Original Face        Certificate        Principal             Principal                       Realized
   Class                Amount              Balance        Distribution         Distribution    Accretion          Loss (3)
-----------------------------------------------------------------------------------------------------------------------------
<S>                <C>                  <C>                <C>                <C>               <C>               <C>
   1-A-1           148,641,000.00       1000.00000000       0.00000000           2.64292086     0.00000000        0.00000000
   1-A-2           150,000,000.00       1000.00000000       0.00000000           1.73264467     0.00000000        0.00000000
   1-X-1A                    0.00          0.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   1-X-1B                    0.00          0.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   1-X-2                     0.00          0.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   1-X-B                     0.00          0.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   1-A-R                   100.00       1000.00000000       0.00000000        1000.00000000     0.00000000        0.00000000
   1-B-1             3,864,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   1-B-2             2,628,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   1-B-3             1,546,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   1-B-4               773,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   1-B-5               464,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   1-B-6             1,236,668.87       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   2-A-1           189,415,000.00       1000.00000000       0.05333205           7.34875057     0.00000000        0.00000000
   2-M-1             9,986,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   2-X-1                     0.00          0.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   2-X-M                     0.00          0.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   2-X-B                     0.00          0.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   2-A-R                   100.00       1000.00000000       7.20000000         992.80000000     0.00000000        0.00000000
   2-B-1             2,367,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   2-B-2               824,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   2-B-3             1,235,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   2-B-4               618,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   2-B-5               515,000.00       1000.00000000       0.00000000           0.00000000     0.00000000        0.00000000
   2-B-6               926,589.00       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>
   1-A-1         2.64292086          997.35707914             0.99735708             2.64292086
   1-A-2         1.73264467          998.26735533             0.99826736             1.73264467
   1-X-1A        0.00000000            0.00000000             0.00000000             0.00000000
   1-X-1B        0.00000000            0.00000000             0.00000000             0.00000000
   1-X-2         0.00000000            0.00000000             0.00000000             0.00000000
   1-X-B         0.00000000            0.00000000             0.00000000             0.00000000
   1-A-R      1000.00000000            0.00000000             0.00000000          1000.00000000
   1-B-1         0.00000000         1000.00000000             1.00000000             0.00000000
   1-B-2         0.00000000         1000.00000000             1.00000000             0.00000000
   1-B-3         0.00000000         1000.00000000             1.00000000             0.00000000
   1-B-4         0.00000000         1000.00000000             1.00000000             0.00000000
   1-B-5         0.00000000         1000.00000000             1.00000000             0.00000000
   1-B-6         0.00000000         1000.00000000             1.00000000             0.00000000
   2-A-1         7.40208262          992.59791738             0.99259792             7.40208262
   2-M-1         0.00000000         1000.00000000             1.00000000             0.00000000
   2-X-1         0.00000000            0.00000000             0.00000000             0.00000000
   2-X-M         0.00000000            0.00000000             0.00000000             0.00000000
   2-X-B         0.00000000            0.00000000             0.00000000             0.00000000
   2-A-R      1000.00000000            0.00000000             0.00000000          1000.00000000
   2-B-1         0.00000000         1000.00000000             1.00000000             0.00000000
   2-B-2         0.00000000         1000.00000000             1.00000000             0.00000000
   2-B-3         0.00000000         1000.00000000             1.00000000             0.00000000
   2-B-4         0.00000000         1000.00000000             1.00000000             0.00000000
   2-B-5         0.00000000         1000.00000000             1.00000000             0.00000000
   2-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>
   1-A-1            148,641,000.00            1.41000%     148,641,000.00        122,257.22            0.00             0.00
   1-A-2            150,000,000.00            1.45375%     150,000,000.00        127,203.13            0.00             0.00
   1-X-1A                     0.00            1.48492%      70,361,236.00         87,067.22            0.00             0.00
   1-X-1B                     0.00            1.48890%      78,279,763.00         97,125.50            0.00             0.00
   1-X-2                      0.00            1.45467%     150,000,000.00        181,833.89            0.00             0.00
   1-X-B                      0.00            1.24815%       3,864,000.00          4,019.05            0.00             0.00
   1-A-R                    100.00            2.47401%             100.00              0.21            0.00             0.00
   1-B-1              3,864,000.00            1.75000%       3,864,000.00          3,944.50            0.00             0.00
   1-B-2              2,628,000.00            2.47315%       2,628,000.00          5,416.20            0.00             0.00
   1-B-3              1,546,000.00            2.47315%       1,546,000.00          3,186.24            0.00             0.00
   1-B-4                773,000.00            2.47315%         773,000.00          1,593.12            0.00             0.00
   1-B-5                464,000.00            2.47315%         464,000.00            956.29            0.00             0.00
   1-B-6              1,236,668.87            2.47315%       1,236,668.87          2,548.72            0.00             0.00
   2-A-1            189,415,000.00            1.45000%     189,415,000.00        160,213.52            0.00             0.00
   2-M-1              9,986,000.00            1.57000%       9,986,000.00          9,145.51            0.00             0.00
   2-X-1                      0.00            1.40638%     189,415,000.00        221,991.14            0.00             0.00
   2-X-M                      0.00            1.32238%       9,986,000.00         11,004.40            0.00             0.00
   2-X-B                      0.00            1.19638%       2,367,000.00          2,359.86            0.00             0.00
   2-A-R                    100.00            2.42138%             100.00              0.20            0.00             0.00
   2-B-1              2,367,000.00            1.75000%       2,367,000.00          2,416.31            0.00             0.00
   2-B-2                824,000.00            2.42138%         824,000.00          1,662.68            0.00             0.00
   2-B-3              1,235,000.00            2.42138%       1,235,000.00          2,492.00            0.00             0.00
   2-B-4                618,000.00            2.42138%         618,000.00          1,247.01            0.00             0.00
   2-B-5                515,000.00            2.42138%         515,000.00          1,039.18            0.00             0.00
   2-B-6                926,589.00            2.42138%         926,589.00          1,869.69            0.00             0.00
------------------------------------------------------------------------------------------------------------------------------
   Totals           515,039,457.87                                             1,052,592.79            0.00             0.00
------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                                                  Remaining           Ending
              Non-Supported                                         Unpaid         Certificate/
                Interest        Realized    Total Interest         Interest         Notational
   Class        Shortfall       Loss (4)     Distribution          Shortfall          Balance
------------------------------------------------------------------------------------------------
<S>           <C>               <C>         <C>                   <C>             <C>
   1-A-1           0.00           0.00         122,257.22             0.00        148,248,153.60
   1-A-2           0.00           0.00         127,203.12             0.00        149,740,103.30
   1-X-1A          0.00           0.00          87,067.22             0.00         70,253,745.77
   1-X-1B          0.00           0.00          97,125.50             0.00         77,994,407.83
   1-X-2           0.00           0.00         181,833.89             0.00        149,740,103.30
   1-X-B           0.00           0.00           4,019.05             0.00          3,864,000.00
   1-A-R           0.00           0.00               0.21             0.00                  0.00
   1-B-1           0.00           0.00           3,944.50             0.00          3,864,000.00
   1-B-2           0.00           0.00           5,416.20             0.00          2,628,000.00
   1-B-3           0.00           0.00           3,186.24             0.00          1,546,000.00
   1-B-4           0.00           0.00           1,593.12             0.00            773,000.00
   1-B-5           0.00           0.00             956.29             0.00            464,000.00
   1-B-6           0.00           0.00           2,548.72             0.00          1,236,668.87
   2-A-1           0.00           0.00         160,213.52             0.00        188,012,934.52
   2-M-1           0.00           0.00           9,145.51             0.00          9,986,000.00
   2-X-1           0.00           0.00         221,991.14             0.00        188,012,934.52
   2-X-M           0.00           0.00          11,004.40             0.00          9,986,000.00
   2-X-B           0.00           0.00           2,359.86             0.00          2,367,000.00
   2-A-R           0.00           0.00               0.20             0.00                  0.00
   2-B-1           0.00           0.00           2,416.31             0.00          2,367,000.00
   2-B-2           0.00           0.00           1,662.68             0.00            824,000.00
   2-B-3           0.00           0.00           2,492.00             0.00          1,235,000.00
   2-B-4           0.00           0.00           1,247.01             0.00            618,000.00
   2-B-5           0.00           0.00           1,039.18             0.00            515,000.00
   2-B-6           0.00           0.00           1,869.69             0.00            926,589.00
------------------------------------------------------------------------------------------------
   Totals          0.00           0.00       1,052,592.78             0.00
------------------------------------------------------------------------------------------------
</TABLE>


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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                                            Payment of
                                    Current          Beginning                                Unpaid          Current
                 Original Face    Certificate       Certificate/         Current Accrued      Interest        Interest
  Class (5)          Amount           Rate         Notional Balance          Interest        Shortfall        Shortfall
-----------------------------------------------------------------------------------------------------------------------
<S>             <C> <C>           <C>              <C>                   <C>                <C>              <C>
    1-A-1       148,641,000.00      1.41000%        1000.00000000           0.82249998       0.00000000      0.00000000
    1-A-2       150,000,000.00      1.45375%        1000.00000000           0.84802087       0.00000000      0.00000000
   1-X-1A                 0.00      1.48492%        1000.00000000           1.23743164       0.00000000      0.00000000
   1-X-1B                 0.00      1.48890%        1000.00000000           1.24074852       0.00000000      0.00000000
    1-X-2                 0.00      1.45467%        1000.00000000           1.21222593       0.00000000      0.00000000
    1-X-B                 0.00      1.24815%        1000.00000000           1.04012681       0.00000000      0.00000000
    1-A-R               100.00      2.47401%        1000.00000000           2.10000000       0.00000000      0.00000000
    1-B-1         3,864,000.00      1.75000%        1000.00000000           1.02083333       0.00000000      0.00000000
    1-B-2         2,628,000.00      2.47315%        1000.00000000           2.06095890       0.00000000      0.00000000
    1-B-3         1,546,000.00      2.47315%        1000.00000000           2.06095731       0.00000000      0.00000000
    1-B-4           773,000.00      2.47315%        1000.00000000           2.06095731       0.00000000      0.00000000
    1-B-5           464,000.00      2.47315%        1000.00000000           2.06096983       0.00000000      0.00000000
    1-B-6         1,236,668.87      2.47315%        1000.00000000           2.06095590       0.00000000      0.00000000
    2-A-1       189,415,000.00      1.45000%        1000.00000000           0.84583333       0.00000000      0.00000000
    2-M-1         9,986,000.00      1.57000%        1000.00000000           0.91583317       0.00000000      0.00000000
    2-X-1                 0.00      1.40638%        1000.00000000           1.17198289       0.00000000      0.00000000
    2-X-M                 0.00      1.32238%        1000.00000000           1.10198278       0.00000000      0.00000000
    2-X-B                 0.00      1.19638%        1000.00000000           0.99698352       0.00000000      0.00000000
    2-A-R               100.00      2.42138%        1000.00000000           2.00000000       0.00000000      0.00000000
    2-B-1         2,367,000.00      1.75000%        1000.00000000           1.02083228       0.00000000      0.00000000
    2-B-2           824,000.00      2.42138%        1000.00000000           2.01781553       0.00000000      0.00000000
    2-B-3         1,235,000.00      2.42138%        1000.00000000           2.01781377       0.00000000      0.00000000
    2-B-4           618,000.00      2.42138%        1000.00000000           2.01781553       0.00000000      0.00000000
    2-B-5           515,000.00      2.42138%        1000.00000000           2.01782524       0.00000000      0.00000000
    2-B-6           926,589.00      2.42138%        1000.00000000           2.01782020       0.00000000      0.00000000
-----------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                                                 Remaining
              Non-Supported                                        Unpaid
                 Interest         Realized      Total Interest    Interest        Ending Certificate/
  Class (5)     Shortfall         Loss (6)       Distribution     Shortfall       Notational Balance
-----------------------------------------------------------------------------------------------------
<S>           <C>                <C>            <C>               <C>             <C>
    1-A-1      0.00000000        0.00000000       0.82249998      0.00000000         997.35707914
    1-A-2      0.00000000        0.00000000       0.84802080      0.00000000         998.26735533
   1-X-1A      0.00000000        0.00000000       1.23743164      0.00000000         998.47230896
   1-X-1B      0.00000000        0.00000000       1.24074852      0.00000000         996.35467509
    1-X-2      0.00000000        0.00000000       1.21222593      0.00000000         998.26735533
    1-X-B      0.00000000        0.00000000       1.04012681      0.00000000        1000.00000000
    1-A-R      0.00000000        0.00000000       2.10000000      0.00000000           0.00000000
    1-B-1      0.00000000        0.00000000       1.02083333      0.00000000        1000.00000000
    1-B-2      0.00000000        0.00000000       2.06095890      0.00000000        1000.00000000
    1-B-3      0.00000000        0.00000000       2.06095731      0.00000000        1000.00000000
    1-B-4      0.00000000        0.00000000       2.06095731      0.00000000        1000.00000000
    1-B-5      0.00000000        0.00000000       2.06096983      0.00000000        1000.00000000
    1-B-6      0.00000000        0.00000000       2.06095590      0.00000000        1000.00000000
    2-A-1      0.00000000        0.00000000       0.84583333      0.00000000         992.59791738
    2-M-1      0.00000000        0.00000000       0.91583317      0.00000000        1000.00000000
    2-X-1      0.00000000        0.00000000       1.17198289      0.00000000         992.59791738
    2-X-M      0.00000000        0.00000000       1.10198278      0.00000000        1000.00000000
    2-X-B      0.00000000        0.00000000       0.99698352      0.00000000        1000.00000000
    2-A-R      0.00000000        0.00000000       2.00000000      0.00000000           0.00000000
    2-B-1      0.00000000        0.00000000       1.02083228      0.00000000        1000.00000000
    2-B-2      0.00000000        0.00000000       2.01781553      0.00000000        1000.00000000
    2-B-3      0.00000000        0.00000000       2.01781377      0.00000000        1000.00000000
    2-B-4      0.00000000        0.00000000       2.01781553      0.00000000        1000.00000000
    2-B-5      0.00000000        0.00000000       2.01782524      0.00000000        1000.00000000
    2-B-6      0.00000000        0.00000000       2.01782020      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                                          3,256,756.26
           Liquidations, Insurance Proceeds, Reserve Funds                                     0.00
           Proceeds from Repurchased Loans                                                     0.00
           Other Amounts (Servicer Advances)                                                   0.00
           Realized Losses (Gains, Subsequent Expenses & Recoveries)                           0.00
           Prepayment Penalties                                                                0.00
                                                                                       ------------
Total Deposits                                                                         3,256,756.26

Withdrawals
           Reimbursement for Servicer Advances                                                 0.00
           Payment of Service Fee                                                        149,154.90
           Payment of Interest and Principal                                           3,107,601.36
                                                                                       ------------
Total Withdrawals (Pool Distribution Amount)                                           3,256,756.26

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

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

                                 SERVICING FEES

              Gross Servicing Fee                                                        148,081.90
              Master Servicing Fee                                                         1,073.00
              Supported Prepayment/Curtailment Interest Shortfall                              0.00
                                                                                       ------------
              Net Servicing Fee                                                          149,154.90
                                                                                       ============
</TABLE>


<PAGE>

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

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
                 DELINQUENT                                 BANKRUPTCY                                    FORECLOSURE
                    No. of       Principal                    No. of           Principal                     No. of       Principal
                    Loans         Balance                      Loans            Balance                      Loans         Balance
-----------------------------------------------------------------------------------------------------------------------------------
<S>              <C>             <C>         <C>            <C>                <C>         <C>            <C>             <C>
0-29 Days             0            0.00      0-29 Days           0               0.00      0-29 Days           0             0.00
30 Days               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
</TABLE>

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

<TABLE>
<CAPTION>
                    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         0.000000%      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>
                                   No. of      Principal                     No. of        Principal
                                   Loans        Balance                      Loans          Balance
----------------------------------------------------------------------------------------------------
<S>               <C>            <C>           <C>          <C>            <C>             <C>
0-29 Days         0-29 Days      0.000000%     0.000000%    0-29 Days      0.000000%       0.000000%
30 Days           30 Days        0.000000%     0.000000%    30 Days        0.000000%       0.000000%
60 Days           60 Days        0.000000%     0.000000%    60 Days        0.000000%       0.000000%
90 Days           90 Days        0.000000%     0.000000%    90 Days        0.000000%       0.000000%
120 Days          120 Days       0.000000%     0.000000%    120 Days       0.000000%       0.000000%
150 Days          150 Days       0.000000%     0.000000%    150 Days       0.000000%       0.000000%
180+ Days         180+ Days      0.000000%     0.000000%    180+ Days      0.000000%       0.000000%
                                 ----------------------                    ------------------------
                                 0.000000%     0.000000%                   0.000000%       0.000000%
</TABLE>

<TABLE>
<S>                                            <C>        <C>                                              <C>
Current Period Class A Insufficient Funds:     0.00       Principal Balance of Contaminated Properties     0.00
</TABLE>

<TABLE>
<S>                  <C>
Periodic Advance     0.00
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                GROUP 1A - 1 MO.
                 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
</TABLE>

<TABLE>
<CAPTION>
                                GROUP 1A - 1 MO.
                                   REO                                      TOTAL
                                  No. of      Principal                     No. of        Principal
                                  Loans        Balance                      Loans          Balance
---------------------------------------------------------------------------------------------------
<S>              <C>              <C>         <C>          <C>              <C>           <C>
0-29 Days        0-29 Days          0            0.00      0-29 Days          0              0.00
30 Days          30 Days            0            0.00      30 Days            0              0.00
60 Days          60 Days            0            0.00      60 Days            0              0.00
90 Days          90 Days            0            0.00      90 Days            0              0.00
120 Days         120 Days           0            0.00      120 Days           0              0.00
150 Days         150 Days           0            0.00      150 Days           0              0.00
180+ Days        180+ Days          0            0.00      180+ Days          0              0.00
                                  -------------------                      ----------------------
                                    0            0.00                         0              0.00
</TABLE>

<TABLE>
<CAPTION>
                    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         0.000000%      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>
                                   No. of       Principal                     No. of        Principal
                                   Loans         Balance                      Loans          Balance
-----------------------------------------------------------------------------------------------------
<S>                <C>            <C>           <C>          <C>            <C>             <C>
0-29 Days          0-29 Days      0.000000%     0.000000%    0-29 Days      0.000000%       0.000000%
30 Days            30 Days        0.000000%     0.000000%    30 Days        0.000000%       0.000000%
60 Days            60 Days        0.000000%     0.000000%    60 Days        0.000000%       0.000000%
90 Days            90 Days        0.000000%     0.000000%    90 Days        0.000000%       0.000000%
120 Days           120 Days       0.000000%     0.000000%    120 Days       0.000000%       0.000000%
150 Days           150 Days       0.000000%     0.000000%    150 Days       0.000000%       0.000000%
180+ Days          180+ Days      0.000000%     0.000000%    180+ Days      0.000000%       0.000000%
                                  ----------------------                    ------------------------
                                  0.000000%     0.000000%                   0.000000%       0.000000%
</TABLE>

                                Group 1A - 6 Mo.
<TABLE>
<CAPTION>
                 DELINQUENT                                   BANKRUPTCY                                 FORECLOSURE
                    No. of       Principal                       No. of      Principal                     No. of       Principal
                    Loans         Balance                        Loans        Balance                      Loans         Balance
---------------------------------------------------------------------------------------------------------------------------------
<S>              <C>             <C>           <C>            <C>            <C>          <C>             <C>           <C>
0-29 Days             0             0.00       0-29 Days           0           0.00       0-29 Days          0            0.00
30 Days               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
</TABLE>

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

<TABLE>
<CAPTION>
                    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         0.000000%      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>
                                  No. of      Principal                     No. of        Principal
                                  Loans        Balance                      Loans          Balance
---------------------------------------------------------------------------------------------------
<S>              <C>            <C>           <C>          <C>            <C>             <C>
0-29 Days        0-29 Days      0.000000%     0.000000%    0-29 Days      0.000000%       0.000000%
30 Days          30 Days        0.000000%     0.000000%    30 Days        0.000000%       0.000000%
60 Days          60 Days        0.000000%     0.000000%    60 Days        0.000000%       0.000000%
90 Days          90 Days        0.000000%     0.000000%    90 Days        0.000000%       0.000000%
120 Days         120 Days       0.000000%     0.000000%    120 Days       0.000000%       0.000000%
150 Days         150 Days       0.000000%     0.000000%    150 Days       0.000000%       0.000000%
180+ Days        180+ Days      0.000000%     0.000000%    180+ Days      0.000000%       0.000000%
                                ----------------------                    ------------------------
                                0.000000%     0.000000%                   0.000000%       0.000000%
</TABLE>

<PAGE>

                                    GROUP 1B

<TABLE>
<CAPTION>
                 DELINQUENT                                   BANKRUPTCY                                 FORECLOSURE
                    No. of       Principal                       No. of      Principal                     No. of       Principal
                    Loans         Balance                        Loans        Balance                      Loans         Balance
---------------------------------------------------------------------------------------------------------------------------------
<S>              <C>             <C>           <C>            <C>            <C>          <C>             <C>           <C>
0-29 Days             0            0.00        0-29 Days           0           0.00       0-29 Days          0            0.00
30 Days               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
</TABLE>

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

<TABLE>
<CAPTION>
                    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         0.000000%      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>
                                  No. of      Principal                     No. of        Principal
                                  Loans        Balance                      Loans          Balance
---------------------------------------------------------------------------------------------------
<S>              <C>            <C>           <C>          <C>            <C>             <C>
0-29 Days        0-29 Days      0.000000%     0.000000%    0-29 Days      0.000000%       0.000000%
30 Days          30 Days        0.000000%     0.000000%    30 Days        0.000000%       0.000000%
60 Days          60 Days        0.000000%     0.000000%    60 Days        0.000000%       0.000000%
90 Days          90 Days        0.000000%     0.000000%    90 Days        0.000000%       0.000000%
120 Days         120 Days       0.000000%     0.000000%    120 Days       0.000000%       0.000000%
150 Days         150 Days       0.000000%     0.000000%    150 Days       0.000000%       0.000000%
180+ Days        180+ Days      0.000000%     0.000000%    180+ Days      0.000000%       0.000000%
                                ----------------------                    ------------------------
                                0.000000%     0.000000%                   0.000000%       0.000000%
</TABLE>

                                     Group 2

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

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

<TABLE>
<CAPTION>
                    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         0.000000%      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>
                                  No. of      Principal                     No. of        Principal
                                  Loans        Balance                      Loans          Balance
---------------------------------------------------------------------------------------------------
<S>              <C>            <C>           <C>          <C>            <C>             <C>
0-29 Days        0-29 Days      0.000000%     0.000000%    0-29 Days      0.000000%       0.000000%
30 Days          30 Days        0.000000%     0.000000%    30 Days        0.000000%       0.000000%
60 Days          60 Days        0.000000%     0.000000%    60 Days        0.000000%       0.000000%
90 Days          90 Days        0.000000%     0.000000%    90 Days        0.000000%       0.000000%
120 Days         120 Days       0.000000%     0.000000%    120 Days       0.000000%       0.000000%
150 Days         150 Days       0.000000%     0.000000%    150 Days       0.000000%       0.000000%
180+ Days        180+ Days      0.000000%     0.000000%    180+ Days      0.000000%       0.000000%
                                    ------------------                    ------------------------
                                0.000000%     0.000000%                   0.000000%       0.000000%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                                               Mixed Arm

<S>                                                                             <C>
Weighted Average Gross Coupon                                                        2.799974%
Weighted Average Net Coupon                                                          2.454956%
Weighted Average Pass-Through Rate                                                   2.452455%
Weighted Average Maturity (Stepdown Calculation)                                           323

Beginning Scheduled Collateral Loan Count                                                1,045
Number of Loans Paid in Full                                                                 2
Ending Scheduled Collateral Loan Count                                                   1,043

Beginning Scheduled Collateral Balance                                          515,039,457.87
Ending Scheduled Collateral Balance                                             512,984,450.04
Ending Actual Collateral Balance at 31-July-2003                                512,984,450.04

Monthly P&I Constant                                                              1,211,850.31
Special Servicing Fee                                                                     0.00
Prepayment Penalties                                                                      0.00
Realized Loss Amount                                                                      0.00
Cumulative Realized Loss                                                                  0.00

Ending Scheduled Balance for Premium Loans                                      512,984,450.04

Scheduled Principal                                                                  10,102.61
Unscheduled Principal                                                             2,044,905.97
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                                <C>
Group 1A Pro Rata Senior Percentage                                                 96.599792%
Group 1B Pro Rata Senior Percentage                                                 96.599900%
Group 2 Pro Rata Senior Percentage                                                  91.999682%

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

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

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

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


<PAGE>

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

Collateral Description                   1 Month             6 Month               6 Month             1 Month
                                         LIBOR ARM           LIBOR ARM            LIBOR ARM            LIBOR ARM          Mixed ARM
<S>                                  <C>                 <C>                 <C>                  <C>                <C>
Weighted Average Coupon Rate              2.849418            2.853398             2.849796             2.723879           2.799974
Weighted Average Net Rate                 2.474418            2.478398             2.474796             2.423880           2.454956
Pass-Through Rate                         2.474918            2.475898             2.472296             2.421379           2.452455
Weighted Average Maturity                      299                 299                  299                  352                323
Record Date                             07/31/2003          07/31/2003           07/31/2003           07/31/2003         07/31/2003
Principal and Interest Constant         172,954.74          192,688.03           368,762.82           477,444.72       1,211,850.31
Beginning Loan Count                           162                 241                  426                  216              1,045
Loans Paid in Full                               0                   0                    1                    1                  2
Ending Loan Count                              162                 241                  425                  215              1,043
Beginning Scheduled Balance          72,837,924.64       81,035,810.36       155,279,633.87       205,886,689.75     515,039,458.62
Ending Scheduled Balance             72,733,155.73       80,747,002.87       155,019,767.17       204,484,524.27     512,984,450.04
Scheduled Principal                           0.00                0.00                 0.00            10,102.61          10,102.61
Unscheduled Principal                   104,768.91          288,177.49           259,896.70         1,392,062.87       2,044,905.97
Scheduled Interest                      172,954.74          192,688.03           368,762.82           467,342.11       1,201,747.70
Servicing Fee                            22,761.85           25,323.49            48,524.89            51,471.67         148,081.90
Master Servicing Fee                          0.00                0.00                 0.00                 0.00               0.00
Trustee Fee                                 151.75              168.82               323.50               428.93           1,073.00
FRY Amount                                    0.00                0.00                 0.00                 0.00               0.00
Special Hazard Fee                            0.00                0.00                 0.00                 0.00               0.00
Other Fee                                     0.00                0.00                 0.00                 0.00               0.00
Pool Insurance Fee                            0.00                0.00                 0.00                 0.00               0.00
Spread 1                                      0.00                0.00                 0.00                 0.00               0.00
Spread 2                                      0.00                0.00                 0.00                 0.00               0.00
Spread 3                                      0.00                0.00                 0.00                 0.00               0.00
Net Interest                            150,041.14          167,195.72           319,914.43           415,441.51       1,052,592.80
Realized Loss Amount                          0.00                0.00                 0.00                 0.00               0.00
Cumulative Realized Loss                      0.00                0.00                 0.00                 0.00               0.00
Percentage of Cumulative Losses               0.00                0.00                 0.00                 0.00               0.00
Prepayment Penalties                          0.00                0.00                 0.00                 0.00               0.00
Special Servicing Fee                         0.00                0.00                 0.00                 0.00               0.00
</TABLE>