<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: AUGUST 29, 2003
                      DISTRIBUTION DATE: SEPTEMBER 22, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY



<Table>
<Caption>
                      Certificate   Certificate       Beginning                                                        Ending
                         Class      Pass-Through     Certificate       Interest       Principal       Current        Certificate
 Class      CUSIP     Description      Rate            Balance       Distribution   Distribution    Realized Loss       Balance
 -----    ---------   -----------   ------------    --------------   ------------   -------------   -------------   --------------
<S>       <C>          <C>           <C>            <C>              <C>            <C>             <C>             <C>
  1-A-1   81743PBH8       SEN            1.42000%   148,248,153.60     175,426.98    1,370,792.72            0.00   146,877,360.88
  1-A-2   81743PBJ4       SEN            1.45375%   149,740,103.30     181,403.89      402,601.24            0.00   149,337,502.06
 1-X-1A   81743PBM7        IO            0.90564%             0.00      53,020.31            0.00            0.00             0.00
 1-X-1B   81743PBN5        IO            1.05588%             0.00      68,627.44            0.00            0.00             0.00
  1-X-2   81743PBP0        IO            1.01862%             0.00     127,106.42            0.00            0.00             0.00
  1-X-B   81743PBQ8        IO            0.67869%             0.00       2,185.39            0.00            0.00             0.00
  1-A-R   81743PBL9        R             2.39158%             0.00           0.00            0.00            0.00             0.00
  1-B-1   81743PBK1       SUB            1.76000%     3,864,000.00       5,667.20            0.00            0.00     3,864,000.00
  1-B-2   81743PBR6       SUB            2.43868%     2,628,000.00       5,340.70            0.00            0.00     2,628,000.00
  1-B-3   81743PBS4       SUB            2.43868%     1,546,000.00       3,141.83            0.00            0.00     1,546,000.00
  1-B-4   81743PBT2       SUB            2.43868%       773,000.00       1,570.91            0.00            0.00       773,000.00
  1-B-5   81743PBU9       SUB            2.43868%       464,000.00         942.96            0.00            0.00       464,000.00
  1-B-6   81743PBV7       SUB            2.43868%     1,236,668.87       2,513.14            0.00            0.00     1,236,668.87
  2-A-1   81743PBW5       SEN            1.46000%   188,012,934.52     228,749.07    3,236,127.68            0.00   184,776,806.84
  2-M-1   81743PBX3       MEZ            1.58000%     9,986,000.00      13,148.23            0.00            0.00     9,986,000.00
  2-X-1   81743PCA2        IO            0.94056%             0.00     147,363.99            0.00            0.00             0.00
  2-X-M   81743PCB0        IO            0.82056%             0.00       6,828.40            0.00            0.00             0.00
  2-X-B   81743PCC8        IO            0.64056%             0.00       1,263.50            0.00            0.00             0.00
  2-A-R   81743PBZ8        R             2.34631%             0.00           0.00            0.00            0.00             0.00
  2-B-1   81743PBY1       SUB            1.76000%     2,367,000.00       3,471.60            0.00            0.00     2,367,000.00
  2-B-2   81743PCD6       SUB            2.40056%       824,000.00       1,648.38            0.00            0.00       824,000.00
  2-B-3   81743PCE4       SUB            2.40056%     1,235,000.00       2,470.57            0.00            0.00     1,235,000.00
  2-B-4   81743PCF1       SUB            2.40056%       618,000.00       1,236.29            0.00            0.00       618,000.00
  2-B-5   81743PCG9       SUB            2.40056%       515,000.00       1,030.24            0.00            0.00       515,000.00
  2-B-6   81743PCH7       SUB            2.40056%       926,589.00       1,853.61            0.00            0.00       926,589.00
          ---------   -----------   ------------    --------------   ------------   -------------   -------------   --------------
Totals                                              512,984,449.29   1,036,011.05    5,009,521.64            0.00   507,974,927.65
                                                    --------------   ------------   -------------   -------------   --------------
<Caption>

            Total        Cumulative
 Class    Distribution   Realized Loss
 -----   -------------   -------------
<S>      <C>             <C>
  1-A-1   1,546,219.70            0.00
  1-A-2     584,005.13            0.00
 1-X-1A      53,020.31            0.00
 1-X-1B      68,627.44            0.00
  1-X-2     127,106.42            0.00
  1-X-B       2,185.39            0.00
  1-A-R           0.00            0.00
  1-B-1       5,667.20            0.00
  1-B-2       5,340.70            0.00
  1-B-3       3,141.83            0.00
  1-B-4       1,570.91            0.00
  1-B-5         942.96            0.00
  1-B-6       2,513.14            0.00
  2-A-1   3,464,876.75            0.00
  2-M-1      13,148.23            0.00
  2-X-1     147,363.99            0.00
  2-X-M       6,828.40            0.00
  2-X-B       1,263.50            0.00
  2-A-R           0.00            0.00
  2-B-1       3,471.60            0.00
  2-B-2       1,648.38            0.00
  2-B-3       2,470.57            0.00
  2-B-4       1,236.29            0.00
  2-B-5       1,030.24            0.00
  2-B-6       1,853.61            0.00
          ------------   -------------
Totals    6,045,532.69            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                                                 Ending
          Original Face     Certificate      Principal       Principal                 Realized   Total Principal     Certificate
Class        Amount           Balance       Distribution   Distribution    Accretion   Loss (1)      Reduction          Balance
-----     --------------   --------------   ------------   -------------   ---------   --------   ---------------   --------------
<S>       <C>              <C>              <C>            <C>             <C>         <C>        <C>               <C>
 1-A-1    148,641,000.00   148,248,153.60           0.00    1,370,792.72        0.00       0.00      1,370,792.72    146,877,360.88
 1-A-2    150,000,000.00   149,740,103.30           0.00      402,601.24        0.00       0.00        402,601.24    149,337,502.06
1-X-1A              0.00             0.00           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              0.00              0.00
 1-X-2              0.00             0.00           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              0.00              0.00
 1-A-R            100.00             0.00           0.00            0.00        0.00       0.00              0.00              0.00
 1-B-1      3,864,000.00     3,864,000.00           0.00            0.00        0.00       0.00              0.00      3,864,000.00
 1-B-2      2,628,000.00     2,628,000.00           0.00            0.00        0.00       0.00              0.00      2,628,000.00
 1-B-3      1,546,000.00     1,546,000.00           0.00            0.00        0.00       0.00              0.00      1,546,000.00
 1-B-4        773,000.00       773,000.00           0.00            0.00        0.00       0.00              0.00        773,000.00
 1-B-5        464,000.00       464,000.00           0.00            0.00        0.00       0.00              0.00        464,000.00
 1-B-6      1,236,668.87     1,236,668.87           0.00            0.00        0.00       0.00              0.00      1,236,668.87
 2-A-1    189,415,000.00   188,012,934.52      10,145.91    3,225,981.77        0.00       0.00      3,236,127.68    184,776,806.84
 2-M-1      9,986,000.00     9,986,000.00           0.00            0.00        0.00       0.00              0.00      9,986,000.00
 2-X-1              0.00             0.00           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              0.00              0.00
 2-X-B              0.00             0.00           0.00            0.00        0.00       0.00              0.00              0.00
 2-A-R            100.00             0.00           0.00            0.00        0.00       0.00              0.00              0.00
 2-B-1      2,367,000.00     2,367,000.00           0.00            0.00        0.00       0.00              0.00      2,367,000.00
 2-B-2        824,000.00       824,000.00           0.00            0.00        0.00       0.00              0.00        824,000.00
 2-B-3      1,235,000.00     1,235,000.00           0.00            0.00        0.00       0.00              0.00      1,235,000.00
 2-B-4        618,000.00       618,000.00           0.00            0.00        0.00       0.00              0.00        618,000.00
 2-B-5        515,000.00       515,000.00           0.00            0.00        0.00       0.00              0.00        515,000.00
 2-B-6        926,589.00       926,589.00           0.00            0.00        0.00       0.00              0.00        926,589.00
          --------------   --------------      ---------    ------------        ----       ----      ------------    --------------
Totals    515,039,457.87   512,984,449.29      10,145.91    4,999,375.73        0.00       0.00      5,009,521.64    507,974,927.65
          --------------   --------------      ---------    ------------        ----       ----      ------------    --------------


<Caption>
            Ending
         Certificate   Total Principal
Class     Percentage     Distribution
-----    -----------   ---------------
<S>      <C>           <C>
 1-A-1    0.98813491      1,370,792.72
 1-A-2    0.99558335        402,601.24
1-X-1A    0.00000000              0.00
1-X-1B    0.00000000              0.00
 1-X-2    0.00000000              0.00
 1-X-B    0.00000000              0.00
 1-A-R    0.00000000              0.00
 1-B-1    1.00000000              0.00
 1-B-2    1.00000000              0.00
 1-B-3    1.00000000              0.00
 1-B-4    1.00000000              0.00
 1-B-5    1.00000000              0.00
 1-B-6    1.00000000              0.00
 2-A-1    0.97551306      3,236,127.68
 2-M-1    1.00000000              0.00
 2-X-1    0.00000000              0.00
 2-X-M    0.00000000              0.00
 2-X-B    0.00000000              0.00
 2-A-R    0.00000000              0.00
 2-B-1    1.00000000              0.00
 2-B-2    1.00000000              0.00
 2-B-3    1.00000000              0.00
 2-B-4    1.00000000              0.00
 2-B-5    1.00000000              0.00
 2-B-6    1.00000000              0.00
         -----------   ---------------
Totals    0.98628352      5,009,521.64
         -----------   ---------------
</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                                                     Ending
        Original Face     Certificate      Principal       Principal                   Realized    Total Principal     Certificate
Class      Amount           Balance       Distribution   Distribution    Accretion     Loss (3)       Reduction          Balance
-----   --------------   --------------   ------------   -------------   ----------   ----------   ---------------   -------------
<S>     <C>              <C>              <C>            <C>             <C>          <C>          <C>               <C>
 1-A-1  148,641,000.00     997.35707914     0.00000000      9.22217100   0.00000000   0.00000000        9.22217100    988.13490813
 1-A-2  150,000,000.00     998.26735533     0.00000000      2.68400827   0.00000000   0.00000000        2.68400827    995.58334707
1-X-1A            0.00       0.00000000     0.00000000      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        0.00000000      0.00000000
 1-X-2            0.00       0.00000000     0.00000000      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        0.00000000      0.00000000
 1-A-R          100.00       0.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000      0.00000000
 1-B-1    3,864,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 1-B-2    2,628,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 1-B-3    1,546,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 1-B-4      773,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 1-B-5      464,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 1-B-6    1,236,668.87    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 2-A-1  189,415,000.00     992.59791738     0.05356445     17.03128987   0.00000000   0.00000000       17.08485431    975.51306306
 2-M-1    9,986,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 2-X-1            0.00       0.00000000     0.00000000      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        0.00000000      0.00000000
 2-X-B            0.00       0.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000      0.00000000
 2-A-R          100.00       0.00000000      0.0000000      0.00000000   0.00000000   0.00000000        0.00000000      0.00000000
 2-B-1    2,367,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 2-B-2      824,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 2-B-3    1,235,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 2-B-4      618,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 2-B-5      515,000.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000
 2-B-6      926,589.00    1000.00000000     0.00000000      0.00000000   0.00000000   0.00000000        0.00000000   1000.00000000

<Caption>
            Ending
         Certificate    Total Principal
Class     Percentage      Distribution
-----    -----------    ---------------
<S>       <C>           <C>
 1-A-1    0.98813491         9.22217100
 1-A-2    0.99559335         2.68400827
1-X-1A    0.00000000         0.00000000
1-X-1B    0.00000000         0.00000000
 1-X-2    0.00000000         0.00000000
 1-X-B    0.00000000         0.00000000
 1-A-R    0.00000000         0.00000000
 1-B-1    1.00000000         0.00000000
 1-B-2    1.00000000         0.00000000
 1-B-3    1.00000000         0.00000000
 1-B-4    1.00000000         0.00000000
 1-B-5    1.00000000         0.00000000
 1-B-6    1.00000000         0.00000000
 2-A-1    0.97551306        17.08485431
 2-M-1    1.00000000         0.00000000
 2-X-1    0.00000000         0.00000000
 2-X-M    0.00000000         0.00000000
 2-X-B    0.00000000         0.00000000
 2-A-R    0.00000000         0.00000000
 2-B-1    1.00000000         0.00000000
 2-B-2    1.00000000         0.00000000
 2-B-3    1.00000000         0.00000000
 2-B-4    1.00000000         0.00000000
 2-B-5    1.00000000         0.00000000
 2-B-6    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-
                               Current       Certificate/      Current       Unpaid      Current     Supported
            Original Face    Certificate       Notional        Accrued      Interest     Interest    Interest    Realized
 Class         Amount            Rate          Balance         Interest     Shortfall    Shortfall   Shortfall    Loss (4)
 -----    ----------------   -----------    --------------   ------------   ----------   ---------   ---------   ---------
<S>       <C>                <C>            <C>              <C>            <C>          <C>         <C>         <C>
 1-A-1      148,641,000.00       1.42000%   148,248,153.60     175,426.98         0.00        0.00        0.00        0.00
 1-A-2      150,000,000.00       1.45375%   149,740,103.30     181,403.90         0.00        0.00        0.00        0.00
1-X-1A                0.00       0.90564%    70,253,745.77      53,020.31         0.00        0.00        0.00        0.00
1-X-1B                0.00       1.05588%    77,994,407.83      68,627.44         0.00        0.00        0.00        0.00
 1-X-2                0.00       1.01862%   149,740,103.30     127,106.42         0.00        0.00        0.00        0.00
 1-X-B                0.00       0.67869%     3,864,000.00       2,185.39         0.00        0.00        0.00        0.00
 1-A-R              100.00       2.39158%             0.00           0.00         0.00        0.00        0.00        0.00
 1-B-1        3,864,000.00       1.76000%     3,864,000.00       5,667.20         0.00        0.00        0.00        0.00
 1-B-2        2,628,000.00       2.43868%     2,628,000.00       5,340.70         0.00        0.00        0.00        0.00
 1-B-3        1,546,000.00       2.43868%     1,546,000.00       3,141.83         0.00        0.00        0.00        0.00
 1-B-4          773,000.00       2.43868%       773,000.00       1,570.91         0.00        0.00        0.00        0.00
 1-B-5          464,000.00       2.43868%       464,000.00         942.96         0.00        0.00        0.00        0.00
 1-B-6        1,236,668.87       2.43868%     1,236,668.87       2,513.20         0.00        0.00        0.00        0.00
 2-A-1      189,415,000.00       1.46000%   188,012,934.52     228,749.07         0.00        0.00        0.00        0.00
 2-M-1        9,986,000.00       1.58000%     9,986,000.00      13,148.23         0.00        0.00        0.00        0.00
 2-X-1                0.00       0.94056%   188,012,934.52     147,363.99         0.00        0.00        0.00        0.00
 2-X-M                0.00       0.82056%     9,986,000.00       6,828.40         0.00        0.00        0.00        0.00
 2-X-B                0.00       0.64056%     2,367,000.00       1,263.50         0.00        0.00        0.00        0.00
 2-A-R              100.00       2.34631%             0.00           0.00         0.00        0.00        0.00        0.00
 2-B-1        2,367,000.00       1.76000%     2,367,000.00       3,471.60         0.00        0.00        0.00        0.00
 2-B-2          824,000.00       2.40056%       824,000.00       1,648.38         0.00        0.00        0.00        0.00
 2-B-3        1,235,000.00       2.40056%     1,235,000.00       2,470.57         0.00        0.00        0.00        0.00
 2-B-4          618,000.00       2.40056%       618,000.00       1,236.29         0.00        0.00        0.00        0.00
 2-B-5          515,000.00       2.40056%       515,000.00       1,030.24         0.00        0.00        0.00        0.00
 2-B-6          926,589.00       2.40056%       926,589.00       1,853.61         0.00        0.00        0.00        0.00
          ----------------   -----------    --------------   ------------   ----------   ---------   ---------   ---------
Totals      515,039,457.87                                   1,036,011.12         0.00        0.00        0.00        0.00
          ----------------   -----------    --------------   ------------   ----------   ---------   ---------   ---------

<Caption>
                           Remaining       Ending
                              Unpaid    Certificate/
          Total Interest    Interest     Notational
 Class     Distribution    Shortfall      Balance
 -----    --------------   ---------   --------------
<S>       <C>              <C>         <C>
 1-A-1        175,426.98        0.00   146,877,360.88
 1-A-2        181,403.89        0.00   149,337,502.06
1-X-1A         53,020.31        0.00    69,054,520.98
1-X-1B         68,627.44        0.00    77,822,839.90
 1-X-2        127,106.42        0.00   149,337,502.06
 1-X-B          2,185.39        0.00     3,864,000.00
 1-A-R              0.00        0.00             0.00
 1-B-1          5,667.20        0.00     3,864,000.00
 1-B-2          5,340.70        0.00     2,628,000.00
 1-B-3          3,141.83        0.00     1,546,000.00
 1-B-4          1,570.91        0.00       773,000.00
 1-B-5            942.96        0.00       464,000.00
 1-B-6          2,513.14        0.00     1,236,668.87
 2-A-1        228,749.07        0.00   184,776,806.84
 2-M-1         13,148.23        0.00     9,986,000.00
 2-X-1        147,363.99        0.00   184,776,806.84
 2-X-M          6,828.40        0.00     9,986,000.00
 2-X-B          1,263.50        0.00     2,367,000.00
 2-A-R              0.00        0.00             0.00
 2-B-1          3,471.60        0.00     2,367,000.00
 2-B-2          1,648.38        0.00       824,000.00
 2-B-3          2,470.57        0.00     1,235,000.00
 2-B-4          1,236.29        0.00       618,000.00
 2-B-5          1,030.24        0.00       515,000.00
 2-B-6          1,853.61        0.00       926,589.00
            ------------   ---------   --------------
Totals      1,036,011.05        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>
                                              Beginning                  Payment of                  Non-
                              Current       Certificate/     Current       Unpaid      Current      Supported
 Class    Original Face     Certificate       Notional       Accrued      Interest     Interest     Interest      Realized
  (5)        Amount             Rate          Balance        Interest     Shortfall    Shortfall    Shortfall     Loss (6)
 -----    --------------   ------------    --------------   ----------   ----------   ----------   ----------   ----------
<S>       <C>              <C>             <C>              <C>          <C>          <C>          <C>          <C>
 1-A-1    148,641,000.00       1.42000%      997.35707914   1.18020587   0.00000000   0.00000000   0.00000000    0.00000000
 1-A-2    150,000,000.00       1.45375%      998.26735533   1.20935933   0.00000000   0.00000000   0.00000000    0.00000000
1-X-1A              0.00       0.90564%      998.47230896   0.75354432   0.00000000   0.00000000   0.00000000    0.00000000
1-X-1B              0.00       1.05588%      996.35467509   0.87669453   0.00000000   0.00000000   0.00000000    0.00000000
 1-X-2              0.00       1.01862%      998.26735533   0.84737613   0.00000000   0.00000000   0.00000000    0.00000000
 1-X-B              0.00       0.67869%     1000.00000000   0.56557712   0.00000000   0.00000000   0.00000000    0.00000000
 1-A-R            100.00       2.39158%        0.00000000   0.00000000   0.00000000   0.00000000   0.00000000    0.00000000
 1-B-1      3,864,000.00       1.76000%     1000.00000000   1.46666667   0.00000000   0.00000000   0.00000000    0.00000000
 1-B-2      2,628,000.00       2.43868%     1000.00000000   2.03222983   0.00000000   0.00000000   0.00000000    0.00000000
 1-B-3      1,546,000.00       2.43868%     1000.00000000   2.03223157   0.00000000   0.00000000   0.00000000    0.00000000
 1-B-4        773,000.00       2.43868%     1000.00000000   2.03222510   0.00000000   0.00000000   0.00000000    0.00000000
 1-B-5        464,000.00       2.43868%     1000.00000000   2.03224138   0.00000000   0.00000000   0.00000000    0.00000000
 1-B-6      1,236,668.87       2.43868%     1000.00000000   2.03223358   0.00000000   0.00004043   0.00000000    0.00000000
 2-A-1    189,415,000.00       1.46000%      992.59791738   1.20766080   0.00000000   0.00000000   0.00000000    0.00000000
 2-M-1      9,986,000.00       1.58000%     1000.00000000   1.31666633   0.00000000   0.00000000   0.00000000    0.00000000
 2-X-1              0.00       0.94056%      992.59791738   0.77799535   0.00000000   0.00000000   0.00000000    0.00000000
 2-X-M              0.00       0.82056%     1000.00000000   0.68379732   0.00000000   0.00000000   0.00000000    0.00000000
 2-X-B              0.00       0.64056%     1000.00000000   0.53379806   0.00000000   0.00000000   0.00000000    0.00000000
 2-A-R            100.00       2.34631%        0.00000000   0.00000000   0.00000000   0.00000000   0.00000000    0.00000000
 2-B-1      2,367,000.00       1.76000%     1000.00000000   1.46666667   0.00000000   0.00000000   0.00000000    0.00000000
 2-B-2        824,000.00       2.40056%     1000.00000000   2.00046117   0.00000000   0.00000000   0.00000000    0.00000000
 2-B-3      1,235,000.00       2.40056%     1000.00000000   2.00046154   0.00000000   0.00000000   0.00000000    0.00000000
 2-B-4        618,000.00       2.40056%     1000.00000000   2.00046926   0.00000000   0.00000000   0.00000000    0.00000000
 2-B-5        515,000.00       2.40056%     1000.00000000   2.00046602   0.00000000   0.00000000   0.00000000    0.00000000
 2-B-6        926,589.00       2.40056%     1000.00000000   2.00046623   0.00000000   0.00000000   0.00000000    0.00000000

<Caption>
                           Remaining       Ending
                             Unpaid     Certificate/
 Class    Total Interest    Interest     Notational
  (5)      Distribution    Shortfall      Balance
 -----    --------------   ----------   -------------
<S>       <C>              <C>          <C>
 1-A-1        1.18020587   0.00000000    988.13490813
 1-A-2        1.20935927   0.00000000    995.58334707
1-X-1A        0.75354432   0.00000000    981.42848116
1-X-1B        0.87669453   0.00000000    994.16294733
 1-X-2        0.84737613   0.00000000    995.58334707
 1-X-B        0.56557712   0.00000000   1000.00000000
 1-A-R        0.00000000   0.00000000      0.00000000
 1-B-1        1.46666667   0.00000000   1000.00000000
 1-B-2        2.03222983   0.00000000   1000.00000000
 1-B-3        2.03223157   0.00000000   1000.00000000
 1-B-4        2.03222510   0.00000000   1000.00000000
 1-B-5        2.03224138   0.00000000   1000.00000000
 1-B-6        2.03218506   0.00004043   1000.00000000
 2-A-1        1.20766080   0.00000000    975.51306306
 2-M-1        1.31666633   0.00000000   1000.00000000
 2-X-1        0.77799535   0.00000000    975.51306306
 2-X-M        0.68379732   0.00000000   1000.00000000
 2-X-B        0.53379806   0.00000000   1000.00000000
 2-A-R        0.00000000   0.00000000      0.00000000
 2-B-1        1.46666667   0.00000000   1000.00000000
 2-B-2        2.00046117   0.00000000   1000.00000000
 2-B-3        2.00046154   0.00000000   1000.00000000
 2-B-4        2.00046926   0.00000000   1000.00000000
 2-B-5        2.00046602   0.00000000   1000.00000000
 2-B-6        2.00046623   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                          6,192,278.15
         Liquidations, Insurance Proceeds, Reserve Funds                     0.00
         Proceeds from Repurchased Loans                                     0.00
         Other Amounts (Servicer Advances)                               1,850.62
         Realized Losses (Gains, Subsequent Expenses & Recoveries)           0.00
         Prepayment Penalties                                                0.00
                                                                     ------------
Total Deposits                                                       6,194,128.77

Withdrawals
         Reimbursement for Servicer Advances                                 0.00
         Payment of Service Fee                                        148,596.06
         Payment of Interest and Principal                           6,045,532.71
                                                                     ------------
Total Withdrawals (Pool Distribution Amount)                         6,194,128.77

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                                        147,527.35
Master Servicing Fee                                         1,068.71
Supported Prepayment/Curtailment Interest Shortfall              0.00
                                                           ----------

Net Servicing Fee                                          148,596.06
                                                           ==========
</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          1    987,000.00     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
            --------    ----------                 --------    --------                 --------    --------
                   1    987,000.00                        0        0.00                        0        0.00


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

0-29 Days   0.000000%     0.000000%    0-29 Days   0.000000%   0.000000%    0-29 Days   0.000000%   0.000000%
30 Days     0.096246%     0.194301%    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%
            --------    ----------                 --------    --------                 --------    --------
            0.096246%     0.194301%                0.000000%   0.000000%                0.000000%   0.000000%

<Caption>
              REO                                 TOTAL
----------------------------------    -----------------------------------

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

<S>           <C>       <C>           <C>          <C>        <C>
0-29 Days           0        0.00     0-29 Days         0            0.00
30 Days             0        0.00     30 Days           1      987,000.00
60 Days             0        0.00     60 Days           0            0.00
90 Days             0        0.00     90 Days           0            0.00
120 Days            0        0.00     120 Days          0            0.00
150 Days            0        0.00     150 Days          0            0.00
180+ Days           0        0.00     180+ Days         0            0.00
             --------    --------                 --------     ----------
                    0        0.00                        1     987,000.00


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

0-29 Days    0.000000%   0.000000%    0-29 Days   0.000000%      0.000000%
30 Days      0.000000%   0.000000%    30 Days     0.096246%      0.194301%
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%                0.096246%      0.194301%
</Table>

Current Period Class A Insufficient Funds:           0.00
Principal Balance of Contaminated Properties         0.00
Periodic Advance                                 1,850.62




<PAGE>

                                GROUP 1A - 1 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>
0-29 Days           0          0.00    0-29 Days           0        0.00    0-29 Days           0        0.00
30 Days             1    987,000.00    30 Days             0        0.00    30 Days             0        0.00
60 Days             0          0.00    60 Days             0        0.00    60 Days             0        0.00
90 Days             0          0.00    90 Days             0        0.00    90 Days             0        0.00
120 Days            0          0.00    120 Days            0        0.00    120 Days            0        0.00
150 Days            0          0.00    150 Days            0        0.00    150 Days            0        0.00
180+ Days           0          0.00    180+ Days           0        0.00    180+ Days           0        0.00
             --------    ----------                 --------    --------                 --------    --------
                    1    987,000.00                        0        0.00                        0        0.00

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

0-29 Days    0.000000%     0.000000%   0-29 Days    0.000000%   0.000000%   0-29 Days    0.000000%   0.000000%
30 Days      0.621118%     1.380143%   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%
             --------    ----------                 --------    --------                 --------    --------
             0.621118%     1.380143%                0.000000%   0.000000%                0.000000%   0.000000%

<Caption>
              REO                                  TOTAL
----------------------------------   ------------------------------------

              No. of     Principal                No. of      Principal
               Loans      Balance                  Loans       Balance
<S>           <C>       <C>          <C>          <C>        <C>
0-29 Days           0        0.00    0-29 Days           0          0.00
30 Days             0        0.00    30 Days             1    987,000.00
60 Days             0        0.00    60 Days             0          0.00
90 Days             0        0.00    90 Days             0          0.00
120 Days            0        0.00    120 Days            0          0.00
150 Days            0        0.00    150 Days            0          0.00
180+ Days           0        0.00    180+ Days           0          0.00
             --------    --------                ---------    ----------
                    0        0.00                        1    987,000.00

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

0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%    0.000000%
30 Days      0.000000%   0.000000%   30 Days     0.621118%    1.380143%
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%               0.621118%    1.380143%
</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

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%               0.000000%   0.000000%

<Caption>
              REO                                 TOTAL
---------------------------------   ---------------------------------

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

<S>          <C>        <C>          <C>         <C>        <C>
0-29 Days           0        0.00    0-29 Days          0         0.00
30 Days             0        0.00    30 Days            0         0.00
60 Days             0        0.00    60 Days            0         0.00
90 Days             0        0.00    90 Days            0         0.00
120 Days            0        0.00    120 Days           0         0.00
150 Days            0        0.00    150 Days           0         0.00
180+ Days           0        0.00    180+ Days          0         0.00
             --------    --------                --------     --------
                    0        0.00                       0         0.00

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

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



<PAGE>

                                    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

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%               0.000000%   0.000000%

<Caption>
              REO                                 TOTAL
---------------------------------   ---------------------------------

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

<S>          <C>        <C>          <C>         <C>        <C>
0-29 Days           0        0.00    0-29 Days          0         0.00
30 Days             0        0.00    30 Days            0         0.00
60 Days             0        0.00    60 Days            0         0.00
90 Days             0        0.00    90 Days            0         0.00
120 Days            0        0.00    120 Days           0         0.00
150 Days            0        0.00    150 Days           0         0.00
180+ Days           0        0.00    180+ Days          0         0.00
             --------    --------                --------     --------
                    0        0.00                       0         0.00

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

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

                                     Group 2

<Table>
<Caption>
              DELINQUENT                         BANKRUPTCY                          FORECLOSURE
---------------------------------   ---------------------------------   ---------------------------------

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

<S>         <C>         <C>          <C>         <C>        <C>         <C>          <C>       <C>
0-29 Days          0        0.00     0-29 Days         0        0.00    0-29 Days          0        0.00
30 Days            0        0.00     30 Days           0        0.00    30 Days            0        0.00
60 Days            0        0.00     60 Days           0        0.00    60 Days            0        0.00
90 Days            0        0.00     90 Days           0        0.00    90 Days            0        0.00
120 Days           0        0.00     120 Days          0        0.00    120 Days           0        0.00
150 Days           0        0.00     150 Days          0        0.00    150 Days           0        0.00
180+ Days          0        0.00     180+ Days         0        0.00    180+ Days          0        0.00
            --------    --------                --------    --------                --------    --------
                   0        0.00                       0        0.00                       0        0.00

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

0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%   0-29 Days   0.000000%   0.000000%
30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%   30 Days     0.000000%   0.000000%
60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%   60 Days     0.000000%   0.000000%
90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%   90 Days     0.000000%   0.000000%
120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%   120 Days    0.000000%   0.000000%
150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%   150 Days    0.000000%   0.000000%
180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%   180+ Days   0.000000%   0.000000%
            --------    --------                --------    --------                --------    --------
            0.000000%   0.000000%               0.000000%   0.000000%               0.000000%   0.000000%

<Caption>
              REO                                 TOTAL
---------------------------------   ---------------------------------

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

<S>          <C>        <C>          <C>         <C>        <C>
0-29 Days           0        0.00    0-29 Days          0         0.00
30 Days             0        0.00    30 Days            0         0.00
60 Days             0        0.00    60 Days            0         0.00
90 Days             0        0.00    90 Days            0         0.00
120 Days            0        0.00    120 Days           0         0.00
150 Days            0        0.00    150 Days           0         0.00
180+ Days           0        0.00    180+ Days          0         0.00
             --------    --------                --------     --------
                    0        0.00                       0         0.00

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

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

<PAGE>

                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                2.771095%
Weighted Average Net Coupon                                  2.425991%
Weighted Average Pass-Through Rate                           2.423491%
Weighted Average Maturity (Stepdown Calculation)                  322

Beginning Scheduled Collateral Loan Count                       1,043
Number of Loans Paid in Full                                        4
Ending Scheduled Collateral Loan Count                          1,039

Beginning Scheduled Collateral Balance                 512,984,450.04
Ending Scheduled Collateral Balance                    507,974,928.40
Ending Actual Collateral Balance at 29-Aug-2003        507,974,928.40

Monthly P&I Constant                                     1,194,753.06
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             507,974,928.40

Scheduled Principal                                         10,145.91
Unscheduled Principal                                    4,999,375.73
</Table>


<PAGE>


MISCELLANEOUS REPORTING

<Table>
<S>                                     <C>
Group 1A Pro Rata Senior Percentage      96.591087%
Group 1B Pro Rata Senior Percentage      96.594200%
Group 2 Pro Rata Senior Percentage       91.944823%

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
<S>                               <C>                  <C>                <C>                  <C>                  <C>
Collateral Description                1 Month             6 Month             6 Month               1 Month
                                      LIBOR ARM           LIBOR ARM           LIBOR ARM             LIBOR ARM             Mixed ARM

Weighted Average Coupon Rate             2.703137            2.853383            2.849866             2.703057             2.771095
Weighted Average Net Rate                2.328137            2.478383            2.474866             2.403057             2.425991
Pass-Through Rate                        2.325637            2.475883            2.472366             2.400557             2.423491
Weighted Average Maturity                     298                 298                 298                  351                  322
Record Date                            08/29/2003          08/29/2003          08/29/2003           08/29/2003           08/29/2003
Principal and Interest Constant        163,839.72          192,001.74          368,154.67           470,756.93         1,194,753.06
Beginning Loan Count                          162                 241                 425                  215                1,043
Loans Paid in Full                              1                   0                   1                    2                    4
Ending Loan Count                             161                 241                 424                  213                1,039
Beginning Scheduled Balance         72,733,155.73       80,747,002.87      155,019,767.17       204,484,524.27       512,984,450.04
Ending Scheduled Balance            71,514,352.75       80,595,013.13      154,617,165.93       201,248,396.59       507,974,928.40
Scheduled Principal                          0.00                0.00                0.00            10,145.91            10,145.91
Unscheduled Principal                1,218,802.98          151,989.74          402,601.24         3,225,981.77         4,999,375.73
Scheduled Interest                     163,839.72          192,001.74          368,154.67           460,611.02         1,184,607.15
Servicing Fee                           22,729.11           25,233.44           48,443.68            51,121.12           147,527.35
Master Servicing Fee                         0.00                0.00                0.00                 0.00                 0.00
Trustee Fee                                151.53              168.22              322.96               426.00             1,068.71
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                           140,959.08          166,600.08          319,388.03           409,063.90         1,036,011.09
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>