<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 2002-8
                           RECORD DATE: JULY 31, 2003
                       DISTRIBUTION DATE: AUGUST 20, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                       Certificate                            Beginning
                          Class       Certificate Pass-      Certificate       Interest        Principal      Current Realized
Class       CUSIP      Description     Through Rate            Balance        Distribution    Distribution          Loss
-----------------------------------------------------------------------------------------------------------------------------
<S>       <C>          <C>            <C>                 <C>                 <C>             <C>             <C>
 1-A1     81743RAA0        SEN            1.23000%                    0.00            0.00             0.00         0.00
 1-A2     81743RAB8        SEN            3.45500%           54,458,762.74      156,795.85     6,705,126.00         0.00
  2A      81743RAC6        SEN            1.40000%          415,010,990.85      484,179.49     9,317,096.11         0.00
  3A      81743RAD4        SEN            2.98232%           42,114,456.93      104,665.50     1,030,473.27         0.00
 X-1      81743RAE2        IO             1.81237%                    0.00       82,249.51             0.00         0.00
 X-2A    81743RAFf9        IO             1.29753%                    0.00      184,450.99             0.00         0.00
 X-2B     81743AFG7        IO             1.25553%                    0.00      255,735.57             0.00         0.00
 X-B      81743RAH5        IO             1.38546%                    0.00       10,470.62             0.00         0.00
 A-R      81743RAJ1        SEN            5.37281%                    0.00            0.00             0.00         0.00
 B-1      81743RAK8        SUB            1.77500%            9,069,000.00       13,414.56             0.00         0.00
 B-2      81743RAL6        SUB            3.16046%            5,505,000.00       14,498.61             0.00         0.00
 B-3      81743RAM4        SUB            3.16046%            3,886,000.00       10,234.62             0.00         0.00
 B-4      SMT0208B4        SUB            3.16046%            1,618,000.00        4,261.35             0.00         0.00
 B-5      SMT0208B5        SUB            3.16046%              970,000.00        2,554.71             0.00         0.00
 B-6      SMT0208B6        SUB            3.16046%            2,306,324.82        6,074.21             0.00         0.00
-----------------------------------------------------------------------------------------------------------------------------
Totals                                                      534,938,535.34      1,329,585.59  17,052,695.38         0.00
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                Ending
             Certificate            Total             Cumulative
Class          Balance           Distribution        Realized Loss
-----------------------------------------------------------------
<S>       <C>                    <C>                 <C>
 1-A1               0.00                 0.00             0.00
 1-A2      47,753,636.74         6,861,921.85             0.00
  2A      405,693,894.74         9,801,275.60             0.00
  3A       41,083,983.66         1,135,138.77             0.00
 X-1                0.00            82,249.51             0.00
 X-2A               0.00           184,450.99             0.00
 X-2B               0.00           255,735.57             0.00
 X-B                0.00            10,470.62             0.00
 A-R                0.00                 0.00             0.00
 B-1        9,069,000.00            13,414.56             0.00
 B-2        5,505,000.00            14,498.61             0.00
 B-3        3,886,000.00            10,234.62             0.00
 B-4        1,618,000.00             4,261.35             0.00
 B-5          970,000.00             2,554.71             0.00
 B-6        2,306,324.82             6,074.21             0.00
-----------------------------------------------------------------
Totals       517,885,839.96        18,382,280.97          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   Total Principal
Class         Amount              Balance         Distribution     Distribution    Accretion     Loss(1)      Reduction
--------------------------------------------------------------------------------------------------------------------------
<S>        <C>                 <C>                <C>             <C>              <C>          <C>        <C>
 1-A1       50,000,000.00                0.00          0.00               0.00       0.00          0.00             0.00
 1-A2       61,468,000.00       54,458,762.74          0.00       6,705,126.00       0.00          0.00     6,705,126.00
  2A       463,097,000.00      415,010,990.85          0.00       9,317,096.11       0.00          0.00     9,317,096.11
  3A        49,973,000.00       42,114,456.93          0.00       1,030,473.27       0.00          0.00     1,030,473.27
 X-1                 0.00                0.00          0.00               0.00       0.00          0.00             0.00
 X-2A                0.00                0.00          0.00               0.00       0.00          0.00             0.00
 X-2B                0.00                0.00          0.00               0.00       0.00          0.00             0.00
 X-B                 0.00                0.00          0.00               0.00       0.00          0.00             0.00
 A-R               100.00                0.00          0.00               0.00       0.00          0.00             0.00
 B-1         9,069,000.00        9,069,000.00          0.00               0.00       0.00          0.00             0.00
 B-2         5,505,000.00        5,505,000.00          0.00               0.00       0.00          0.00             0.00
 B-3         3,886,000.00        3,886,000.00          0.00               0.00       0.00          0.00             0.00
 B-4         1,618,000.00        1,618,000.00          0.00               0.00       0.00          0.00             0.00
 B-5           970,000.00          970,000.00          0.00               0.00       0.00          0.00             0.00
 B-6         2,306,324.82        2,306,324.82          0.00               0.00       0.00          0.00             0.00
--------------------------------------------------------------------------------------------------------------------------
Totals     647,892,424.82      534,938,535.34          0.00      17,052,695.38       0.00          0.00    17,052,695.38
--------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
         Ending Certificate      Ending Certificate      Total Principal
Class         Balance                Percentage           Distribution
------------------------------------------------------------------------
<S>      <C>                     <C>                     <C>
 1-A1               0.00             0.00000000                   0.00
 1-A2      47,753,636.74             0.77688613           6,705,126.00
  2A      405,693,894.74             0.87604518           9,317,096.11
  3A       41,083,983.66             0.82212362           1,030,473.27
 X-1                0.00             0.00000000                   0.00
 X-2A               0.00             0.00000000                   0.00
 X-2B               0.00             0.00000000                   0.00
 X-B                0.00             0.00000000                   0.00
 A-R                0.00             0.00000000                   0.00
 B-1        9,069,000.00             1.00000000                   0.00
 B-2        5,505,000.00             1.00000000                   0.00
 B-3        3,886,000.00             1.00000000                   0.00
 B-4        1,618,000.00             1.00000000                   0.00
 B-5          970,000.00             1.00000000                   0.00
 B-6        2,306,324.82             1.00000000                   0.00
------------------------------------------------------------------------
Totals    517,885,839.96             0.79933924          17,052,695.38
------------------------------------------------------------------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                             Beginning       Scheduled      Unscheduled
         Original Face      Certificate      Principal       Principal                     Realized      Total Principal
Class        Amount            Balance      Distribution    Distribution    Accretion        Loss (3)        Reduction
------------------------------------------------------------------------------------------------------------------------
<S>      <C>               <C>              <C>            <C>              <C>            <C>           <C>
 1-A1    50,000,000.00        0.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 1-A2    61,468,000.00      885.96932941     0.00000000    109.08319776     0.00000000     0.00000000      109.08319776
  2A    463,097,000.00      896.16428275     0.00000000     20.11910271     0.00000000     0.00000000       20.11910271
  3A     49,973,000.00      842.74422048     0.00000000     20.62060052     0.00000000     0.00000000       20.62060052
 X-1              0.00        0.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 X-2A             0.00        0.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 X-2B             0.00        0.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 X-B              0.00        0.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 A-R            100.00        0.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 B-1      9,069,000.00     1000.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 B-2      5,505,000.00     1000.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 B-3      3,886,000.00     1000.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 B-4      1,618,000.00     1000.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 B-5        970,000.00     1000.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
 B-6      2,306,324.82     1000.00000000     0.00000000      0.00000000     0.00000000     0.00000000        0.00000000
------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Ending Certificate    Ending Certificate       Total Principal
      Balance              Percentage            Distribution
--------------------------------------------------------------
<S>                   <C>                      <C>
      0.00000000             0.00000000             0.00000000
    776.88613165             0.77688613           109.08319776
    876.04518004             0.87604518            20.11910271
    822.12361995             0.82212362            20.62060052
      0.00000000             0.00000000             0.00000000
      0.00000000             0.00000000             0.00000000
      0.00000000             0.00000000             0.00000000
      0.00000000             0.00000000             0.00000000
      0.00000000             0.00000000             0.00000000
   1000.00000000             1.00000000             0.00000000
   1000.00000000             1.00000000             0.00000000
   1000.00000000             1.00000000             0.00000000
   1000.00000000             1.00000000             0.00000000
   1000.00000000             1.00000000             0.00000000
   1000.00000000             1.00000000             0.00000000
--------------------------------------------------------------
</TABLE>

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


<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                     Beginning                    Payment of                      Non-
                                                   Certificate/       Current       Unpaid       Current       Supported
           Original Face         Current             Notional         Accrued      Interest      Interest      Interest
 Class        Amount          Certificate Rate        Balance         Interest     Shortfall     Shortfall     Shortfall
------------------------------------------------------------------------------------------------------------------------
<S>        <C>                <C>                 <C>                <C>          <C>            <C>           <C>
 1-A1       50,000,000.00        1.23000%                   0.00           0.00        0.00          0.00          0.00
 1-A2       61,468,000.00        3.45500%          54,458,762.74     156,795.85        0.00          0.00          0.00
  2A       463,097,000.00        1.40000%         415,010,990.85     484,179.49        0.00          0.00          0.00
  3A        49,973,000.00        2.98232%          42,114,456.93     104,665.50        0.00          0.00          0.00
  X-1                0.00        1.81237%          54,458,762.74      82,249.51        0.00          0.00          0.00
 X-2A                0.00        1.29753%         170,586,004.64     184,450.99        0.00          0.00          0.00
 X-2B                0.00        1.25553%         244,424,986.21     255,735.57        0.00          0.00          0.00
  X-B                0.00        1.38546%           9,069,000.00      10,470.62        0.00          0.00          0.00
  A-R              100.00        5.37281%                   0.00           0.00        0.00          0.00          0.00
  B-1        9,069,000.00        1.77500%           9,069,000.00      13,414.56        0.00          0.00          0.00
  B-2        5,505,000.00        3.16046%           5,505,000.00      14,498.61        0.00          0.00          0.00
  B-3        3,886,000.00        3.16046%           3,886,000.00      10,234.62        0.00          0.00          0.00
  B-4        1,618,000.00        3.16046%           1,618,000.00       4,261.35        0.00          0.00          0.00
  B-5          970,000.00        3.16046%             970,000.00       2,554.71        0.00          0.00          0.00
  B-6        2,306,324.82        3.16046%           2,306,324.82       6,074.21        0.00          0.00          0.00
------------------------------------------------------------------------------------------------------------------------
Totals     647,892,424.82                                          1,329,585.59        0.00          0.00          0.00
------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                           Remaining          Ending
                                             Unpaid         Certificate/
         Realized    Total Interest         Interest          Notational
 Class    Loss (4)    Distribution          Shortfall          Balance
--------------------------------------------------------------------------
<S>      <C>         <C>                   <C>             <C>
 1-A1      0.00               0.00             0.00                  0.00
 1-A2      0.00         156,795.85             0.00         47,753,636.74
  2A       0.00         484,179.49             0.00        405,693,894.74
  3A       0.00         104,665.50             0.00         41,083,983.66
  X-1      0.00          82,249.51             0.00         47,753,636.74
 X-2A      0.00         184,450.99             0.00        167,214,398.87
 X-2B      0.00         255,735.57             0.00        238,479,495.87
  X-B      0.00          10,470.62             0.00          9,069,000.00
  A-R      0.00               0.00             0.00                  0.00
  B-1      0.00          13,414.56             0.00          9,069,000.00
  B-2      0.00          14,498.61             0.00          5,505,000.00
  B-3      0.00          10,234.62             0.00          3,886,000.00
  B-4      0.00           4,261.35             0.00          1,618,000.00
  B-5      0.00           2,554.71             0.00            970,000.00
  B-6      0.00           6,074.21             0.00          2,306,324.82
--------------------------------------------------------------------------
Totals     0.00       1,329,585.59             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
Class           Original Face      Certificate       Certificate/        Current Accrued     Interest       Interest
 (5)                Amount            Rate         Notional Balance         Interest         Shortfall      Shortfall
----------------------------------------------------------------------------------------------------------------------
<S>             <C>                <C>             <C>                   <C>                <C>             <C>
 1-A1            50,000,000.00      1.23000%          0.00000000            0.00000000       0.00000000     0.00000000
 1-A2            61,468,000.00      3.45500%        885.96932941            2.55085329       0.00000000     0.00000000
  2A            463,097,000.00      1.40000%        896.16428275            1.04552500       0.00000000     0.00000000
  3A             49,973,000.00      2.98232%        842.74422048            2.09444100       0.00000000     0.00000000
  X-1                     0.00      1.81237%        488.55961119            0.73787553       0.00000000     0.00000000
 X-2A                     0.00      1.29753%        905.61540749            0.97922253       0.00000000     0.00000000
 X-2B                     0.00      1.25553%        889.68430641            0.93085378       0.00000000     0.00000000
  X-B                     0.00      1.38546%       1000.00000000            1.15455067       0.00000000     0.00000000
  A-R                   100.00      5.37281%          0.00000000            0.00000000       0.00000000     0.00000000
  B-1             9,069,000.00      1.77500%       1000.00000000            1.47916639       0.00000000     0.00000000
  B-2             5,505,000.00      3.16046%       1000.00000000            2.63371662       0.00000000     0.00000000
  B-3             3,886,000.00      3.16046%       1000.00000000            2.63371590       0.00000000     0.00000000
  B-4             1,618,000.00      3.16046%       1000.00000000            2.63371446       0.00000000     0.00000000
  B-5               970,000.00      3.16046%       1000.00000000            2.63372165       0.00000000     0.00000000
  B-6             2,306,324.82      3.16046%       1000.00000000            2.63371835       0.00000000     0.00000000
----------------------------------------------------------------------------------------------------------------------
</TABLE>




<TABLE>
<CAPTION>
               Non-                                                Remaining
            Supported                                               Unpaid
Class       Interest          Realized           Total Interest    Interest      Ending Certificate/
 (5)       Shortfall           Loss (6)           Distribution     Shortfall      Notational Balance
----------------------------------------------------------------------------------------------------
<S>        <C>                <C>                <C>              <C>            <C>
1-A1        0.00000000        0.00000000           0.00000000     0.00000000          0.00000000
1-A2        0.00000000        0.00000000           2.55085329     0.00000000        776.88613165
 2A         0.00000000        0.00000000           1.04552500     0.00000000        876.04518004
 3A         0.00000000        0.00000000           2.09444100     0.00000000        822.12361995
 X-1        0.00000000        0.00000000           0.73787553     0.00000000        428.40668838
X-2A        0.00000000        0.00000000           0.97922253     0.00000000        887.71606023
X-2B        0.00000000        0.00000000           0.93085378     0.00000000        868.04327236
 X-B        0.00000000        0.00000000           1.15455067     0.00000000       1000.00000000
 A-R        0.00000000        0.00000000           0.00000000     0.00000000          0.00000000
 B-1        0.00000000        0.00000000           1.47916639     0.00000000       1000.00000000
 B-2        0.00000000        0.00000000           2.63371662     0.00000000       1000.00000000
 B-3        0.00000000        0.00000000           2.63371590     0.00000000       1000.00000000
 B-4        0.00000000        0.00000000           2.63371446     0.00000000       1000.00000000
 B-5        0.00000000        0.00000000           2.63372165     0.00000000       1000.00000000
 B-6        0.00000000        0.00000000           2.63371835     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.

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
           Payments of Interest and Principal                    18,535,491.92
           Liquidations, Insurance Proceeds, Reserve Funds                0.00
           Proceeds from Repurchased Loans                                0.00
           Other Amounts (Servicer Advances)                         16,691.81
           Realized Losses                                                0.00
           Prepayment Penalties                                           0.00
                                                                 --------------
Total Deposits                                                   18,552,183.73

Withdrawals
           Reimbursement for Servicer Advances                          290.00
           Payment of Service Fee                                   169,612.76
           Payment of Interest and Principal                     18,382,280.97
                                                                 --------------
Total Withdrawals (Pool Distribution Amount)                     18,552,183.73

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                                             165,600.71
Master Servicing Fee                                              4,012.05
Non-Supported Prepayment/Curtailment Interest Shortfall               0.00
                                                                ----------
Net Servicing Fee                                               169,612.76
                                                                ==========
</TABLE>






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


<PAGE>


             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        20      7,039,621.51      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        115,986.27      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
             ----      ------------                    --          -------
               21      7,155,607.78                     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     1.463058%   1.359316%        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     0.073153%   0.022396%        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%
            --------    --------                       --------     --------                --------     --------
            1.536211%   1.381713%                      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        20      7,039,621.51
60 Days         0           0.00      60 Days        0               0.00
90 Days         0           0.00      90 Days        1         115,986.27
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                     21      7,155,607.78
</TABLE>

<TABLE>
<CAPTION>
               No. of    Principal                 No. of       Principal
               Loans      Balance                  Loans         Balance
<S>          <C>         <C>          <C>        <C>            <C>
0-29 Days    0.000000%   0.000000%    0-29 Days  0.000000%      0.000000%
30 Days      0.000000%   0.000000%    30 Days    1.463058%      1.359316%
60 Days      0.000000%   0.000000%    60 Days    0.000000%      0.000000%
90 Days      0.000000%   0.000000%    90 Days    0.073153%      0.022396%
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%               1.536211%      1.381713%
</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           16,691.81
</TABLE>


<PAGE>



<TABLE>
<CAPTION>
                   Original $            Original%         Current $          Current %       Current Class %     Prepayment %
                 --------------         -----------     --------------      ------------      -------------      ------------
<S>              <C>                    <C>             <C>                 <C>               <C>                <C>
Class A          647,892,324.82         99.99998457%    517,885,839.96      100.00000000%        95.490449%          0.000000%
Class 1-A-1      597,892.324.82         92.28265402%    517,885,839.96      100.00000000%         0.000000%          0.000000%
Class 1-A-2      536,424,324.82         82.79527654%    470,132,203.22       90.77911905%         9.220881%        204.474491%
Class 2A          73,327,324.82         11.31782407%     64,438,308.48       12.44257006%        78.336549%      1,737.125341%
Class 3A          23,354,324.82          3.60466089%     23,354,324.82        4.50955076%         7.933019%        175.915956%
Class X-1         23,354,324.82          3.60466089%     23,354,324.82        4.50955076%         0.000000%          0.000000%
Class B-1         14,285,324.82          2.20489147%     14,285,324.82        2.75839263%         1.751158%         38.832208%
Class B-2          8,780,324.82          1.35521338%      8,780,324.82        1.69541705%         1.062976%         23.571651%
Class B-3          4,894,324.82          0.75542245%      4,894,324.82        0.94505863%         0.750358%         16.639316%
Class B-4          3,276,324.82          0.50568963%      3,276,324.82        0.63263456%         0.312424%          6.928053%
Class B-5          2,306,324.82          0.35597342%      2,306,324.82        0.44533460%         0.187300%          4.153406%
Class B-6                  0.00          0.00000000%              0.00        0.00000000%         0.445335%          9.875365%
</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       126,045.00      0.01945462%       126,045.00   0.02433838%
         Fraud    19,436,773.00      3.00000004%    19,436,773.00   3.75309991%
Special Hazard    15,500,000.00      2.39237247%    15,499,500.00   2.99284105%
</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        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>
              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>
              REO                                  TOTAL
             No. of       Principal                No. of        Principal
              Loans        Balance                 Loans          Balance
<S>          <C>          <C>          <C>         <C>           <C>
0-29 Days       0            0.00      0-29 Days     0             0.00
30 Days         0            0.00      30 Days       0             0.00
60 Days         0            0.00      60 Days       0             0.00
90 Days         0            0.00      90 Days       0             0.00
120 Days        0            0.00      120 Days      0             0.00
150 Days        0            0.00      150 Days      0             0.00
180+ Days       0            0.00      180+ Days     0             0.00
             ---------------------                 ----------------------
                0            0.00                    0             0.00
</TABLE>



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

                                     GROUP 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           16      5,677,841.18     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
                ----------------------                     -------------------                   --------------------
                  16      5,677,841.18                       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       1.414677%   1.342330%        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%
              ---------------------                      ----------------------                   ----------------------
              1.414677%   1.342330%                      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         16         5,677,841.18
 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                     16         5,677,841.18
</TABLE>

<TABLE>
<CAPTION>
              No. of   Principal                No. of        Principal
              Loans     Balance                  Loans         Balance

<S>         <C>        <C>         <C>         <C>            <C>
0-29 Days   0.000000%  0.000000%   0-29 Days   0.000000%      0.000000%
30 Days     0.000000%  0.000000%   30 Days     1.414677%      1.342330%
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%               1.414677%      1.342330%
</TABLE>

<PAGE>

                                     Group 3
<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          4       1,361,780.33     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         115,986.27     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
                ---------------------                    ----------------                      ----------------
                 5       1,477,766.60                     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       3.100775%   3.168514%      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       0.775194%   0.269870%      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%
              --------------------                    ---------------------                 ----------------------
              3.875969%   3.438384%                   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        4        1,361,780.33
 60 Days          0           0.00     60 Days        0                0.00
 90 Days          0           0.00     90 Days        1          115,986.27
 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                    5        1,477,766.60
</TABLE>

<TABLE>
<CAPTION>
               No. of       Principal                    No. of     Principal
                Loans        Balance                     Loans       Balance
<S>           <C>           <C>           <C>          <C>          <C>
 0-29 Days    0.000000%     0.000000%     0-29 Days    0.000000%    0.000000%
 30 Days      0.000000%     0.000000%     30 Days      3.100775%    3.168514%
 60 Days      0.000000%     0.000000%     60 Days      0.000000%    0.000000%
 90 Days      0.000000%     0.000000%     90 Days      0.775194%    0.269870%
 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%                  3.875969%    3.438384%
</TABLE>


<PAGE>

                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                      3.363074%
Weighted Average Net Coupon                                        2.991591%
Weighted Average Pass-Through Rate                                 2.982591%
Weighted Average Maturity (Stepdown Calculation)                         319

Beginning Scheduled Collateral Loan Count                              1,404
Number of Loans Paid in Full                                              37
Ending Scheduled Collateral Loan Count                                 1,367

Beginning Scheduled Collateral Balance                        534,938,535.34
Ending Scheduled Collateral Balance                           517,885.839.96
Ending Actual Collateral Balance at 31-July-2003              517,879,530.73

Monthly P&I Constant                                            1,499,198.34
Special Servicing Fee                                                   0.00
Prepayment Penalties                                                    0.00
Realization Loss Amount                                                 0.00
Cumulative Realized Loss                                                0.00

Class A Optimal Amount                                         18,320,772.29

Ending Scheduled Balance for Premium Loans                    517,885,839.96

Scheduled Principal                                                     0.00
Unscheduled Principal                                          17,052,695.38
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                          <C>
One Month Libor Loan Balance                                 174,342,483.67
Six Month Libor Loan Balance - POOL 1                         51,916,919.63
Six Month Libor Loan Balance - POOL 2                        248,645,498.81
Six Month Libor Loan Balance - POOL 3                         42,980,937.85
Pro Rata Senior Percent                                          95.634204%
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                    3                  TOTAL
<S>                                    <C>                <C>                   <C>                <C>
Collateral Description                     Mixed ARM           Mixed ARM            Mixed ARM           Mixed ARM
Weighted Average Coupon Rate                5.526370            3.069394             3.366316            3.363074
Weighted Average Net Rate                   5.276370            2.681795             2.991315            2.991591
Pass-Through Rate                           5.267370            2.672795             2.982316            2.982591
Weighted Average Maturity                        343                 310                  347                 319
Record Date                               07/31/2003          07/31/2003           07/31/2003          07/31/2003
Principal and Interest Constant           269,972.58        1,105,762.18           123,463.58        1,499,198.34
Beginning Loan Count                             119               1,153                  132               1,404
Loans Paid in Full                                12                  22                    3                  37
Ending Loan Count                                107               1,131                  129               1,367
Beginning Scheduled Balance            58,622,045.63      432,305,078.59        44,011,411.12      534,938,535.34
Ending Scheduled Balance               51,916,919.63      422,987,982.48        42,980,937.85      517,885,839.96
Scheduled Principal                             0.00                0.00                 0.00                0.00
Unscheduled Principal                   6,705,126.00        9,317,096.11         1,030,473.27       17,052,695.38
Scheduled Interest                        269,972.58        1,105,762.18           123,463.58        1,499,198.34
Servicing Fee                              12,212.93          139,634.21            13,753.57          165,600.71
Master Servicing Fee                          439.67            3,242.29               330.09            4,012.05
Trustee Fee                                     0.00                0.00                 0.00                0.00
FRY Amount                                      0.00                0.00                 0.00                0.00
Special Hazard Fee                              0.00                0.00                 0.00                0.00
Other Fee                                       0.00                0.00                 0.00                0.00
Pool Insurance Fee                              0.00                0.00                 0.00                0.00
Spread 1                                        0.00                0.00                 0.00                0.00
Spread 2                                        0.00                0.00                 0.00                0.00
Spread 3                                        0.00                0.00                 0.00                0.00
Net Interest                              257,319.98          962,885.68           109,379.92        1,329,585.58
Realized Loss Amount                            0.00                0.00                 0.00                0.00
Cumulative Realized Loss                        0.00                0.00                 0.00                0.00
Percentage of Cumulative Losses                 0.00                0.00                 0.00                0.00
Prepayment Penalties                            0.00                0.00                 0.00                0.00
Special Servicing Fee                           0.00                0.00                 0.00                0.00
</TABLE>