<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

<TABLE>
<CAPTION>
                                                                 SMT SERIES 2002-7
                                                           RECORD DATE: AUGUST 29, 2003
                                                       DISTRIBUTION DATE: SEPTEMBER 22, 2003

                                                       CERTIFICATEHOLDER DISTRIBUTION SUMMARY
---------------------------------------------------------------------------------------------------------------------------------
                       Certificate    Certificate      Beginning                                     Current         Ending
                          Class       Pass-Through    Certificate       Interest        Principal    Realized     Certificate
  Class      CUSIP     Description       Rate            Balance      Distribution    Distribution     Loss          Balance
---------------------------------------------------------------------------------------------------------------------------------

<S>      <C>             <C>             <C>        <C>                <C>           <C>                <C>     <C>
    A      81743YAA5       SEN             1.45000%   463,489,917.16     560,050.32    9,548,399.34       0.00    453,941,517.82
   A-R     SMT0207AR       SEN             3.51100%             0.00           0.00            0.00       0.00              0.00
   B-1     81743YAE7       SUB             1.86000%     8,080,000.00      12,524.00            0.00       0.00      8,080,000.00
   B-2     81743YAF4       SUB             2.73691%     5,771,000.00      13,162.26            0.00       0.00      5,771,000.00
   B-3     81743YAG2       SUB             2.73691%     3,463,000.00       7,898.27            0.00       0.00      3,463,000.00
   B-4     SMT0207B4       SUB             2.73691%     1,442,000.00       3,288.86            0.00       0.00      1,442,000.00
   B-5     SMT0207B5       SUB             2.73691%     1,154,000.00       2,632.00            0.00       0.00      1,154,000.00
   B-6     SMT0207B6       SUB             2.73691%     2,600,498.71       5,931.11            0.00       0.00      2,600,498.71
   X-1     81743YAC1       SEN             1.00777%             0.00      69,574.51            0.00       0.00              0.00
   X-2     81743YAD9       SEN             1.33788%             0.00     433,388.82            0.00       0.00              0.00
---------------------------------------------------------------------------------------------------------------------------------
Totals                                                486,000,415.87   1,108,450.15    9,548,399.34       0.00    476,452,016.53
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------
                              Cumulative
                 Total         Realized
  Class      Distribution         Loss
------------------------------------------

<S>       <C>                       <C>
    A       10,108,449.66             0.00
   A-R               0.00             0.00
   B-1          12,524.00             0.00
   B-2          13,162.26             0.00
   B-3           7,898.27             0.00
   B-4           3,288.86             0.00
   B-5           2,632.00             0.00
   B-6           5,931.11             0.00
   X-1          69,574.51             0.00
   X-2         433,388.82             0.00
------------------------------------------
Totals      10,656,849.49             0.00
------------------------------------------
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.


                                            PRINCIPAL DISTRIBUTION STATEMENT
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
               Original        Beginning       Scheduled       Unscheduled                                Total
                 Face         Certificate      Principal        Principal                   Realized     Principal
  Class         Amount          Balance       Distribution     Distribution    Accretion    Loss (1)     Reduction
---------------------------------------------------------------------------------------------------------------------

<S>       <C>               <C>                   <C>         <C>                <C>         <C>       <C>
    A      554,686,000.00    463,489,917.16        6.45        9,548,392.89       0.00        0.00      9,548,399.34
   A-R             100.00              0.00        0.00                0.00       0.00        0.00              0.00
   B-1       8,080,000.00      8,080,000.00        0.00                0.00       0.00        0.00              0.00
   B-2       5,771,000.00      5,771,000.00        0.00                0.00       0.00        0.00              0.00
   B-3       3,463,000.00      3,463,000.00        0.00                0.00       0.00        0.00              0.00
   B-4       1,442,000.00      1,442,000.00        0.00                0.00       0.00        0.00              0.00
   B-5       1,154,000.00      1,154,000.00        0.00                0.00       0.00        0.00              0.00
   B-6       2,600,498.71      2,600,498.71        0.00                0.00       0.00        0.00              0.00
   X-1              50.00              0.00        0.00                0.00       0.00        0.00              0.00
   X-2              50.00              0.00        0.00                0.00       0.00        0.00              0.00

---------------------------------------------------------------------------------------------------------------------
Totals     577,196,698.71    486,000,415.87        6.45        9,548,392.89       0.00        0.00      9,548,399.34
---------------------------------------------------------------------------------------------------------------------
</TABLE>



<TABLE>
<CAPTION>
-------------------------------------------------------
                Ending          Ending         Total
              Certificate    Certificate     Principal
  Class         Balance       Percentage   Distribution
-------------------------------------------------------

<S>        <C>               <C>          <C>
    A       453,941,517.82    0.81837565   9,548,399.34
   A-R                0.00    0.00000000           0.00
   B-1        8,080,000.00    1.00000000           0.00
   B-2        5,771,000.00    1.00000000           0.00
   B-3        3,463,000.00    1.00000000           0.00
   B-4        1,442,000.00    1.00000000           0.00
   B-5        1,154,000.00    1.00000000           0.00
   B-6        2,600,498.71    1.00000000           0.00
   X-1                0.00    0.00000000           0.00
   X-2                0.00    0.00000000           0.00

-------------------------------------------------------
Totals      476,452,016.53    0.82545867   9,548,399.34
-------------------------------------------------------
</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>
---------------------------------------------------------------------------------------------------------------------
               Original        Beginning       Scheduled       Unscheduled                                Total
                 Face         Certificate      Principal        Principal                   Realized     Principal
  Class         Amount          Balance       Distribution     Distribution    Accretion    Loss (3)     Reduction
---------------------------------------------------------------------------------------------------------------------

<S>     <C>                 <C>              <C>             <C>             <C>          <C>           <C>
    A    554,686,000.00      835.58971591     0.00001163      17.21405063     0.00000000   0.00000000    17.21406226
   A-R           100.00        0.00000000     0.00000000       0.00000000     0.00000000   0.00000000     0.00000000
   B-1     8,080,000.00     1000.00000000     0.00000000       0.00000000     0.00000000   0.00000000     0.00000000
   B-2     5,771,000.00     1000.00000000     0.00000000       0.00000000     0.00000000   0.00000000     0.00000000
   B-3     3,463,000.00     1000.00000000     0.00000000       0.00000000     0.00000000   0.00000000     0.00000000
   B-4     1,442,000.00     1000.00000000     0.00000000       0.00000000     0.00000000   0.00000000     0.00000000
   B-5     1,154,000.00     1000.00000000     0.00000000       0.00000000     0.00000000   0.00000000     0.00000000
   B-6     2,600,498.71     1000.00000000     0.00000000       0.00000000     0.00000000   0.00000000     0.00000000
   X-1            50.00        0.00000000     0.00000000       0.00000000     0.00000000   0.00000000     0.00000000
   X-2            50.00        0.00000000     0.00000000       0.00000000     0.00000000   0.00000000     0.00000000
---------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------
                Ending          Ending         Total
              Certificate    Certificate     Principal
  Class         Balance       Percentage   Distribution
-------------------------------------------------------

<S>        <C>             <C>           <C>
    A        818.37565365    0.81837565    17.21406226
   A-R         0.00000000    0.00000000     0.00000000
   B-1      1000.00000000    1.00000000     0.00000000
   B-2      1000.00000000    1.00000000     0.00000000
   B-3      1000.00000000    1.00000000     0.00000000
   B-4      1000.00000000    1.00000000     0.00000000
   B-5      1000.00000000    1.00000000     0.00000000
   B-6      1000.00000000    1.00000000     0.00000000
   X-1         0.00000000    0.00000000     0.00000000
   X-2         0.00000000    0.00000000     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.




<TABLE>
<CAPTION>
                                             INTEREST DISTRIBUTION STATEMENT
 -----------------------------------------------------------------------------------------------------------------------------------
                                               Beginning                        Payment of                     Non-
            Original            Current       Certificate/       Current          Unpaid        Current      Supported
              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>
    A     554,686,000.00       1.45000%     463,489,917.16       560,050.32        0.00          0.00           0.00         0.00
   A-R            100.00       3.51100%               0.00             0.00        0.00          0.00           0.00         0.00
   B-1      8,080,000.00       1.86000%       8,080,000.00        12,524.00        0.00          0.00           0.00         0.00
   B-2      5,771,000.00       2.73691%       5,771,000.00        13,162.26        0.00          0.00           0.00         0.00
   B-3      3,463,000.00       2.73691%       3,463,000.00         7,898.27        0.00          0.00           0.00         0.00
   B-4      1,442,000.00       2.73691%       1,442,000.00         3,288.86        0.00          0.00           0.00         0.00
   B-5      1,154,000.00       2.73691%       1,154,000.00         2,632.00        0.00          0.00           0.00         0.00
   B-6      2,600,498.71       2.73691%       2,600,498.71         5,931.11        0.00          0.00           0.00         0.00
   X-1             50.00       1.00777%      82,846,135.50        69,574.51        0.00          0.00           0.00         0.00
   X-2             50.00       1.33788%     388,723,781.66       433,388.82        0.00          0.00           0.00         0.00
 -----------------------------------------------------------------------------------------------------------------------------------
 Totals   577,196,698.71                                       1,108,450.15        0.00          0.00           0.00         0.00
 -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
 ----------------------------------------------------------
                                Remaining         Ending
                 Total            Unpaid       Certificate/
                Interest         Interest       Notational
  Class        Distribution     Shortfall        Balance
 ----------------------------------------------------------

<S>           <C>                <C>       <C>
    A           560,050.32         0.00      453,941,517.82
   A-R                0.00         0.00                0.00
   B-1           12,524.00         0.00        8,080,000.00
   B-2           13,162.26         0.00        5,771,000.00
   B-3            7,898.27         0.00        3,463,000.00
   B-4            3,288.86         0.00        1,442,000.00
   B-5            2,632.00         0.00        1,154,000.00
   B-6            5,931.11         0.00        2,600,498.71
   X-1           69,574.51         0.00       82,022,920.74
   X-2          433,388.82         0.00      379,998,597.08
 ----------------------------------------------------------
 Totals       1,108,450.15         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>


<TABLE>
<CAPTION>


                                            INTEREST DISTRIBUTION FACTORS STATEMENT
----------------------------------------------------------------------------------------------------------------------------------
                                             Beginning                        Payment of                     Non-
            Original          Current       Certificate/       Current          Unpaid        Current      Supported
  Class       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>
    A      554,686,000.00    1.45000%        835.58971591      1.00967091     0.00000000    0.00000000    0.00000000    0.00000000
   A-R             100.00    3.51100%          0.00000000      0.00000000     0.00000000    0.00000000    0.00000000    0.00000000
   B-1       8,080,000.00    1.86000%       1000.00000000      1.55000000     0.00000000    0.00000000    0.00000000    0.00000000
   B-2       5,771,000.00    2.73691%       1000.00000000      2.28075897     0.00000000    0.00000000    0.00000000    0.00000000
   B-3       3,463,000.00    2.73691%       1000.00000000      2.28075946     0.00000000    0.00000000    0.00000000    0.00000000
   B-4       1,442,000.00    2.73691%       1000.00000000      2.28076283     0.00000000    0.00000000    0.00000000    0.00000000
   B-5       1,154,000.00    2.73691%       1000.00000000      2.28076256     0.00000000    0.00000000    0.00000000    0.00000000
   B-6       2,600,498.71    2.73691%       1000.00000000      2.28075868     0.00000000    0.00000000    0.00000000    0.00000000
   X-1              50.00    1.00777%    1656922.71000000   1391.49020000     0.00000000    0.00000000    0.00000000    0.00000000
   X-2              50.00    1.33788%    7774475.63320000   8667.77640000     0.00000000    0.00000000    0.00000000    0.00000000
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------
                                Remaining          Ending
                 Total            Unpaid        Certificate/
  Class         Interest         Interest        Notational
   (5)         Distribution     Shortfall          Balance
------------------------------------------------------------

<S>           <C>            <C>              <C>
    A           1.00967091     0.00000000       818.37565365
   A-R          0.00000000     0.00000000         0.00000000
   B-1          1.55000000     0.00000000      1000.00000000
   B-2          2.28075897     0.00000000      1000.00000000
   B-3          2.28075946     0.00000000      1000.00000000
   B-4          2.28076283     0.00000000      1000.00000000
   B-5          2.28076256     0.00000000      1000.00000000
   B-6          2.28075868     0.00000000      1000.00000000
   X-1       1391.49020000     0.00000000   1640458.41480000
   X-2       8667.77640000     0.00000000   7599971.94160000
------------------------------------------------------------
</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

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------

                               CERTIFICATE ACCOUNT

Beginning Balance                                                         0.00

Deposits
<S>                                                            <C>
         Payments of Interest and Principal                      10,828,107.23
         Liquidations, Insurance Proceeds, Reserve Funds                  0.00
         Proceeds from Repurchased Loans                                  0.00
         Other Amounts (Servicer Advances)                              295.99
         Realized Losses                                                  0.00
         Prepayment Penalties                                             0.00
                                                            --------------------

Total Deposits                                                   10,828,403.22

Withdrawals
         Reimbursement for Servicer Advances                         15,423.60
         Payment of Service Fee                                     156,130.13
         Payment of Interest and Principal                       10,656,849.49
                                                            --------------------

Total Withdrawals (Pool Distribution Amount)                     10,828,403.22

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

--------------------------------------------------------------------------------
</TABLE>


<PAGE>



 <TABLE>
 <CAPTION>
   --------------------------------------------------------------------------------------
                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

    <S>                                                                           <C>
       Total Prepayment/Curtailment Interest Shortfall                               0.00
       Servicing Fee Support                                                         0.00
                                                                   ----------------------

       Non-Supported Prepayment Curtailment Interest Shortfall                       0.00
                                                                   ======================

   --------------------------------------------------------------------------------------
 </TABLE>




   <TABLE>
   <CAPTION>
   --------------------------------------------------------------------------------------
                                 SERVICING FEES

 <S>                                                                        <C>
   Gross Servicing Fee                                                        152,080.13
   Master Servicing Fee                                                         4,050.00
   Supported Prepayment/Curtailment Interest Shortfall                              0.00
                                                                  ----------------------

   Net Servicing Fee                                                          156,130.13
                                                                  ======================

   --------------------------------------------------------------------------------------
   </TABLE>




<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------
                                        Beginning         Current          Current       Ending
         Account Type                    Balance         Withdrawals       Deposits      Balance
------------------------------------------------------------------------------------------------

<S>                                  <C>                 <C>              <C>        <C>
Basis Risk Reserve Fund - X-1           1,512.84            0.00             0.00       1,512.56
Basis Risk Reserve Fund - X-2           8,487.16            0.00             0.00       8,487.44

------------------------------------------------------------------------------------------------
</TABLE>



<PAGE>

                   LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
            DELINQUENT                                           BANKRUPTCY
-----------------------------------------------------------------------------------------------------

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

<S>            <C>                   <C>          <C>              <C>                       <C>
30 Days          1                     149,550.97   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
          ---------------------------------------               -------------------------------------
                 1                     149,550.97                    0                         0.00


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

30 Days      0.075700%                  0.031389%   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%
          ---------------------------------------               -------------------------------------
             0.075700%                  0.031389%                0.000000%                0.000000%
-----------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
             FORECLOSURE                                             REO
-----------------------------------------------------------------------------------------------------

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

<S>              <C>                       <C>    <C>               <C>                      <C>
 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 Balance                  No. of         Principal Balance
                 Loans                                              Loans

 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>

<TABLE>
<CAPTION>
-------------------------------------------------
               TOTAL
-------------------------------------------------

               No. of          Principal Balance
               Loans

<S>            <C>                 <C>
30 Days          1                   149,550.97
60 Days          0                         0.00
90 Days          0                         0.00
120 Days         0                         0.00
150 Days         0                         0.00
180+ Days        0                         0.00
          ---------------------------------------
                 1                   149,550.97


               No. of          Principal Balance
               Loans

30 Days      0.075700%                0.031389%
60 Days      0.000000%                0.000000%
90 Days      0.000000%                0.000000%
120 Days     0.000000%                0.000000%
150 Days     0.000000%                0.000000%
180+ Days    0.000000%                0.000000%
          ---------------------------------------
             0.075700%                0.031389%
-------------------------------------------------
</TABLE>



<TABLE>
<CAPTION>
<S>                          <C>      <C>                         <C>        <C>                   <C>
Current Period                          Principal Balance of
Class A Insufficient Funds:    0.00     Contaminated Properties      0.00       Periodic Advance      295.99
</TABLE>


<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
                                     Original $     Original %           Current $         Current %

             <S>                <C>              <C>                 <C>                <C>
                  Bankruptcy         100,261.00     0.01737033%           100,261.00       0.02104325%
                       Fraud      17,315,901.00     3.00000001%        10,161,109.97       2.13266176%
              Special Hazard       5,771,967.00     1.00000000%         4,764,520.17       1.00000000%

    Limit of subordinate's exposure to certain types of losses
---------------------------------------------------------------------------------------------------------
</TABLE>



<PAGE>


                           DELINQUENCY STATUS BY GROUP

                                 ONE-MONTH LIBOR

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
               DELINQUENT                                        BANKRUPTCY
-----------------------------------------------------------------------------------------------------

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

<S>              <C>                     <C>    <C>                 <C>                      <C>
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 Balance                    No. of         Principal Balance
                 Loans                                              Loans

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>


<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
              FORECLOSURE                                           REO
-----------------------------------------------------------------------------------------------------

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

<S>              <C>                       <C>    <C>               <C>                       <C>
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 Balance                   No. of         Principal Balance
                 Loans                                              Loans

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>

<TABLE>
<CAPTION>
-------------------------------------------------
                 TOTAL
-------------------------------------------------

                 No. of        Principal Balance
                 Loans

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


                 No. of        Principal Balance
                 Loans

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





                                       SIX-MONTH LIBOR
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
              DELINQUENT                                          BANKRUPTCY
-----------------------------------------------------------------------------------------------------

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

<S>             <C>                     <C>          <C>            <C>                      <C>
30 Days           1                       149,550.97   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
          ---------------------------------------               -------------------------------------
                  1                       149,550.97                  0                        0.00


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

30 Days       0.090253%                    0.038164%   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%
          ---------------------------------------               -------------------------------------
              0.090253%                    0.038164%              0.000000%               0.000000%
-----------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
              FORECLOSURE                                            REO
-----------------------------------------------------------------------------------------------------

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

<S>              <C>                      <C>    <C>                <C>                      <C>
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 Balance                   No. of         Principal Balance
                 Loans                                              Loans

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>

<TABLE>
<CAPTION>
-------------------------------------------------
                TOTAL
-------------------------------------------------

                No. of         Principal Balance
                 Loans

<S>              <C>                <C>
30 Days            1                  149,550.97
60 Days            0                        0.00
90 Days            0                        0.00
120 Days           0                        0.00
150 Days           0                        0.00
180+ Days          0                        0.00
          ---------------------------------------
                   1                  149,550.97


                 No. of        Principal Balance
                 Loans

30 Days        0.090253%               0.038164%
60 Days        0.000000%               0.000000%
90 Days        0.000000%               0.000000%
120 Days       0.000000%               0.000000%
150 Days       0.000000%               0.000000%
180+ Days      0.000000%               0.000000%
          ---------------------------------------
               0.090253%               0.038164%
-------------------------------------------------
</TABLE>


<PAGE>



<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------

                              COLLATERAL STATEMENT

<S>                                                              <C>
Collateral Description                                              Mixed Fixed & Arm

Weighted Average Gross Coupon                                               3.122418%
Weighted Average Net Coupon                                                 2.746912%
Weighted Average Pass-Through Rate                                          2.736912%
Weighted Average Maturity (Stepdown Calculation)                                  344

Beginning Scheduled Collateral Loan Count                                       1,349
Number of Loans Paid in Full                                                       28
Ending Scheduled Collateral Loan Count                                          1,321

Beginning Scheduled Collateral Balance                                 486,000,415.87
Ending Scheduled Collateral Balance                                    476,452,016.53
Ending Actual Collateral Balance at 29-Aug-2003                        476,448,205.99

Monthly P&I Constant                                                     1,266,152.48
Special Servicing Fee                                                            0.00
Prepayment Penalties                                                             0.00
Realization Loss Amount                                                          0.00
Cumulative Realized Loss                                                         0.00
Scheduled Principal                                                              6.45
Unscheduled Principal                                                    9,548,392.89
--------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
------------------------------------------------------------------
                      MISCELLANEOUS REPORTING

<S>                                           <C>
Pro Rata Senior Percent                          95.368214%
Senior Percent                                  100.000000%
Senior Prepay Percent                           100.000000%
Subordinate Percent                               0.000000%
Subordinate Prepay Percent                        0.000000%
------------------------------------------------------------------
</TABLE>



<PAGE>



<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
              GROUP                        ONE MONTH LIBOR            SIX MONTH LIBOR                TOTAL

<S>                                        <C>                       <C>                    <C>
Collateral Description                             Monthly               6 Month Arm            Mixed Fixed & Arm
Weighted Average Coupon Rate                      2.849790                  3.180521                     3.122418
Weighted Average Net Rate                         2.474790                  2.804907                     2.746912
Pass-Through Rate                                 2.464790                  2.794907                     2.736912
Weighted Average Maturity                              304                       305                          344
Record Date                                     08/29/2003                08/29/2003                   08/29/2003
Principal and Interest Constant                 204,331.40              1,061,821.08                 1,266,152.48
Beginning Loan Count                                   216                     1,133                        1,349
Loans Paid in Full                                       3                        25                           28
Ending Loan Count                                      213                     1,108                        1,321
Beginning Scheduled Balance                  85,381,307.93            400,619,107.94               486,000,415.87
Ending Scheduled Balance                     84,584,774.69            391,867,241.84               476,452,016.53
Scheduled Principal                                   0.00                      6.45                         6.45
Unscheduled Principal                           796,533.24              8,751,859.65                 9,548,392.89
Scheduled Interest                              202,765.65              1,061,814.63                 1,264,580.28
Servicing Fee                                    26,681.66                125,398.47                   152,080.13
Master Servicing Fee                                711.52                  3,338.48                     4,050.00
Trustee Fee                                           0.00                      0.00                         0.00
FRY Amount                                            0.00                      0.00                         0.00
Special Hazard Fee                                    0.00                      0.00                         0.00
Other Fee                                             0.00                      0.00                         0.00
Pool Insurance Fee                                    0.00                      0.00                         0.00
Spread 1                                              0.00                      0.00                         0.00
Spread 2                                              0.00                      0.00                         0.00
Spread 3                                              0.00                      0.00                         0.00
Net Interest                                    175,372.47                933,077.68                 1,108,450.15
Realized Loss Amount                                  0.00                      0.00                         0.00
Cumulative Realized Loss                              0.00                      0.00                         0.00
Percentage of Cumulative Losses                       0.00                      0.00                         0.00
Prepayment Penalties                                  0.00                      0.00                         0.00
Special Servicing Fee                                 0.00                      0.00                         0.00
--------------------------------------------------------------------------------------------------------------------
</TABLE>