<PAGE>
                                                                    EXHIBIT 10.1

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


                                SMT SERIES 2002-9
                          RECORD DATE: AUGUST 29, 2003
                      DISTRIBUTION DATE: SEPTEMBER 22, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY
<Table>
<Caption>
                               Certificate     Certificate        Beginning
                                  Class        Pass-Through      Certificate        Interest         Principal         Current
   Class          CUSIP        Description         Rate            Balance        Distribution     Distribution     Realized Loss
-----------   -------------   ------------    --------------   --------------     -------------    -------------    --------------
<S>           <C>             <C>             <C>              <C>                <C>              <C>              <C>
    1A          81743SAA8         SEN               1.46000%   352,015,215.88        428,285.17     6,056,753.79              0.00
    2A          81743SAB6         SEN               2.74321%   133,961,567.32        306,237.58     5,891,809.54              0.00
   X-1A         81743SAC4         IO                0.99253%             0.00        155,534.48             0.00              0.00
   X-1B         81743SAD2         IO                1.05242%             0.00        143,804.65             0.00              0.00
   X-B          81743SAE0         IO                0.70103%             0.00          4,499.46             0.00              0.00
   A-R          81743SAF7         SEN               3.16089%             0.00              0.00             0.00              0.00
   B-1          81743SAG5         SUB               1.86000%     7,702,000.00         11,938.10             0.00              0.00
   B-2          81743SAH3         SUB               2.56103%     4,564,000.00          9,740.46             0.00              0.00
   B-3          81743SAJ9         SUB               2.56103%     3,424,000.00          7,307.48             0.00              0.00
   B-4          SMT0209B4         SUB               2.56103%     1,426,000.00          3,043.36             0.00              0.00
   B-5          SMR0209B5         SUB               2.56103%       856,000.00          1,826.87             0.00              0.00
   B-6          SMT0209B6         SUB               2.56103%     1,997,086.78          4,262.17             0.00              0.00
              -----------     ------------    -------------    --------------     -------------    -------------    --------------
Totals                                                         505,945,869.98      1,076,479.78    11,948,563.33              0.00

<Caption>
                   Ending
                 Certificate         Total          Cumulative
   Class           Balance        Distribution     Realized Loss
-----------    --------------   ---------------    -------------
<S>            <C>              <C>                <C>
    1A         345,958,462.09      6,485,038.96             0.00
    2A         128,069,757.78      6,198,047.12             0.00
   X-1A                  0.00        155,534.48             0.00
   X-1B                  0.00        143,804.65             0.00
    X-B                  0.00          4,499.46             0.00
    A-R                  0.00              0.00             0.00
    B-1          7,702,000.00         11,938.10             0.00
    B-2          4,564,000.00          9,740.46             0.00
    B-3          3,424,000.00          7,307.48             0.00
    B-4          1,426,000.00          3,043.36             0.00
    B-5            856,000.00          1,826.87             0.00
    B-6          1,997,086.78          4,262.17             0.00
               --------------   ---------------    -------------
Totals         493,997,306.65     13,025,043.11             0.00
</Table>


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



<PAGE>



                        PRINCIPAL DISTRIBUTION STATEMENT
<Table>
<Caption>

                                 Beginning        Scheduled     Unscheduled
               Original Face    Certificate       Principal      Principal                    Realized      Total Principal
   Class          Amount          Balance       Distribution    Distribution    Accretion      Loss(1)         Reduction
-----------   --------------   ---------------  -------------  --------------   ----------   -----------    ---------------
<S>           <C>              <C>              <C>            <C>              <C>          <C>            <C>
    1A        381,698,000.00    352,015,215.88       1,705.23    6,055,048.56         0.00          0.00       6,056,753.79
    2A        168,875,000.00    133,961,567.32           0.00    5,891,809.54         0.00          0.00       5,891,809.54
   X-1A                 0.00              0.00           0.00            0.00         0.00          0.00               0.00
   X-1B                 0.00              0.00           0.00            0.00         0.00          0.00               0.00
    X-B                 0.00              0.00           0.00            0.00         0.00          0.00               0.00
    A-R               100.00              0.00           0.00            0.00         0.00          0.00               0.00
    B-1         7,702,000.00      7,702,000.00           0.00            0.00         0.00          0.00               0.00
    B-2         4,564,000.00      4,564,000.00           0.00            0.00         0.00          0.00               0.00
    B-3         3,424,000.00      3,424,000.00           0.00            0.00         0.00          0.00               0.00
    B-4         1,426,000.00      1,426,000.00           0.00            0.00         0.00          0.00               0.00
    B-5           856,000.00        856,000.00           0.00            0.00         0.00          0.00               0.00
    B-6         1,997,086.78      1,997,086.78           0.00            0.00         0.00          0.00               0.00
              --------------   ---------------  -------------  --------------   ----------   -----------      -------------
Totals        570,533,186.78    505,945,869.98       1,705.23   11,946,858.10         0.00          0.00      11,948,563.33

<Caption>

                   Ending               Ending
                 Certificate          Certificate     Total Principal
   Class           Balance            Percentage        Distribution
-----------     --------------       -------------    ---------------
<S>             <C>                     <C>           <C>
    1A          345,958,462.09          0.90638835       6,056,753.79
    2A          128,069,757.78          0.75837014       5,891,809.54
   X-1A                   0.00          0.00000000               0.00
   X-1B                   0.00          0.00000000               0.00
    X-B                   0.00          0.00000000               0.00
    A-R                   0.00          0.00000000               0.00
    B-1           7,702,000.00          1.00000000               0.00
    B-2           4,564,000.00          1.00000000               0.00
    B-3           3,424,000.00          1.00000000               0.00
    B-4           1,426,000.00          1.00000000               0.00
    B-5             856,000.00          1.00000000               0.00
    B-6           1,997,086.78          1.00000000               0.00
                --------------       -------------    ---------------
Totals          493,997,306.65          0.86585201      11,948,563.33
</Table>


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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<Table>
<Caption>
                                 Beginning        Scheduled     Unscheduled                                       Total
              Original Face     Certificate       Principal      Principal                      Realized         Principal
   Class         Amount           Balance       Distribution    Distribution    Accretion        Loss(3)         Reduction
------------  --------------   ---------------  -------------   -------------  ------------    -----------     ------------

<S>           <C>              <C>              <C>             <C>            <C>             <C>             <C>
    1A        381,698,000.00      922.25664318     0.00446759     15.86382778    0.00000000     0.00000000      15.86829537
    2A        168,875,000.00      793.25872580     0.00000000     34.88858351    0.00000000     0.00000000      34.88858351
   X-1A                 0.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
   X-1B                 0.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    X-B                 0.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    A-R               100.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-1         7,702,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-2         4,564,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-3         3,424,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-4         1,426,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-5           856,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-6         1,997,086.78     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000

<Caption>
                     Ending               Ending
                    Certificate         Certificate     Total Principal
   Class             Balance            Percentage       Distribution
------------     --------------        ------------     ---------------

<S>              <C>                   <C>              <C>
    1A             906.38834782          0.90638835        15.86829537
    2A             758.37014229          0.75837014        34.88858351
   X-1A              0.00000000          0.00000000         0.00000000
   X-1B              0.00000000          0.00000000         0.00000000
    X-B              0.00000000          0.00000000         0.00000000
    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
</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>
   1A         381,698,000.00         1.46000%    352,015,215.88     428,285.18          0.00          0.00         0.00         0.00
   2A         168,875,000.00         2.74321%    133,961,567.32     306,237.58          0.00          0.00         0.00         0.00
  X-1A                  0.00         0.99253%    188,045,616.75     155,534.48          0.00          0.00         0.00         0.00
  X-1B                  0.00         1.05242%    163,969,599.13     143,804.65          0.00          0.00         0.00         0.00
   X-B                  0.00         0.70103%      7,702,000.00       4,499.46          0.00          0.00         0.00         0.00
   A-R                100.00         3.16089%              0.00           0.00          0.00          0.00         0.00         0.00
   B-1          7,702,000.00         1.86000%      7,702,000.00      11,938.10          0.00          0.00         0.00         0.00
   B-2          4,564,000.00         2.56103%      4,564,000.00       9,740.46          0.00          0.00         0.00         0.00
   B-3          3,424,000.00         2.56103%      3,424,000.00       7,307.48          0.00          0.00         0.00         0.00
   B-4          1,426,000.00         2.56103%      1,426,000.00       3,043.36          0.00          0.00         0.00         0.00
   B-5            856,000.00         2.56103%        856,000.00       1,826.87          0.00          0.00         0.00         0.00
   B-6          1,997,086.78         2.56103%      1,997,086.78       4,262.17          0.00          0.00         0.00         0.00
              --------------                                      ------------    ----------    ----------   ----------    ---------
 Totals       570,533,186.78                                      1,076,479.79          0.00          0.00         0.00         0.00
              --------------                                      ------------    ----------    ----------   ----------    ---------
<Caption>

                                Remaining         Ending
                   Total         Unpaid        Certificate/
                  Interest      Interest        Notational
  Class         Distribution    Shortfall         Balance
----------      ------------   -----------     --------------
<S>             <C>            <C>             <C>
   1A             428,285.17          0.00     345,958,462.09
   2A             306,237.58          0.00     128,069,757.78
  X-1A            155,534.48          0.00     184,901,725.59
  X-1B            143,804.65          0.00     161,056,736.50
   X-B              4,499.46          0.00       7,702,000.00
   A-R                  0.00          0.00               0.00
   B-1             11,938.10          0.00       7,702,000.00
   B-2              9,740.46          0.00       4,564,000.00
   B-3              7,307.48          0.00       3,424,000.00
   B-4              3,043.36          0.00       1,426,000.00
   B-5              1,826.87          0.00         856,000.00
   B-6              4,262.17          0.00       1,997,086.78
                ------------   -----------
 Totals         1,076,479.78          0.00
                ------------   -----------
</Table>


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


                     INTEREST DISTRIBUTION FACTORS STATEMENT

<Table>
<Caption>
                                                                                  Payment of                     Non-
                                 Current         Beginning           Current        Unpaid       Current       Supported
              Original Face    Certificate      Certificate/         Accrued       Interest      Interest      Interest
 Class(5)        Amount           Rate        Notional Balance       Interest      Shortfall     Shortfall     Shortfall
 --------    --------------    -----------    ----------------     ------------  -------------  -----------    ----------

<S>          <C>               <C>            <C>                  <C>           <C>            <C>            <C>
   1A        381,698,000.00        1.46000%       922.25664318       1.12207892     0.00000000   0.00000000    0.00000000
   2A        168,875,000.00        2.74321%       793.25872580       1.81339796     0.00000000   0.00000000    0.00000000
  X-1A                 0.00        0.99253%       922.84876301       0.76329778     0.00000000   0.00000000    0.00000000
  X-1B                 0.00        1.05242%       921.57851579       0.80824297     0.00000000   0.00000000    0.00000000
   X-B                 0.00        0.70103%      1000.00000000       0.58419372     0.00000000   0.00000000    0.00000000
   A-R               100.00        3.16089%         0.00000000       0.00000000     0.00000000   0.00000000    0.00000000
   B-1         7,702,000.00        1.86000%      1000.00000000       1.55000000     0.00000000   0.00000000    0.00000000
   B-2         4,564,000.00        2.56013%      1000.00000000       2.13419369     0.00000000   0.00000000    0.00000000
   B-3         3,424,000.00        2.56103%      1000.00000000       2.13419393     0.00000000   0.00000000    0.00000000
   B-4         1,426,000.00        2.56103%      1000.00000000       2.13419355     0.00000000   0.00000000    0.00000000
   B-5           856,000.00        2.56103%      1000.00000000       2.13419393     0.00000000   0.00000000    0.00000000
   B-6         1,997,086.78        2.56103%      1000.00000000       2.13419369     0.00000000   0.00000000    0.00000000

<Caption>
                                          Remaining            Ending
                             Total         Unpaid            Certificate/
               Realized     Interest      Interest           Notational
 Class(5)       Loss(6)    Distribution   Shortfall            Balance
 --------      ----------  ------------   ----------        -------------

<S>            <C>         <C>            <C>               <C>
   1A          0.00000000    1.12207889   0.00000000         906.38834782
   2A          0.00000000    1.81339796   0.00000000         758.37014229
  X-1A         0.00000000    0.76329778   0.00000000         907.41986805
  X-1B         0.00000000    0.80824297   0.00000000         905.20699550
   X-B         0.00000000    0.58419372   0.00000000        1000.00000000
   A-R         0.00000000    0.00000000   0.00000000           0.00000000
   B-1         0.00000000    1.55000000   0.00000000        1000.00000000
   B-2         0.00000000    2.13419369   0.00000000        1000.00000000
   B-3         0.00000000    2.13419393   0.00000000        1000.00000000
   B-4         0.00000000    2.13419355   0.00000000        1000.00000000
   B-5         0.00000000    2.13419393   0.00000000        1000.00000000
   B-6         0.00000000    2.13419369   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>
<Caption>

<S>                                                         <C>
Beginning Balance                                                     0.00

Deposits
         Payments of Interest and Principal                  13,216,755.16
         Liquidations, Insurance Proceeds, Reserve Funds              0.00
         Proceeds from Repurchased Loans                              0.00
         Other Amounts (Servicer Advances)                            0.00
         Realized Losses                                              0.00
         Prepayment Penalties                                         0.00
                                                             -------------
Total Deposits                                               13,216,755.16

Withdrawals
         Reimbursement for Servicer Advances                     29,590.61
         Payment of Service Fee                                 162,121.44
         Payment of Interest and Principal                   13,025,043.11
                                                             -------------
Total Withdrawals (Pool Distribution Amount)                 13,216,755.16

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

</Table>

<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             0.01
                                                            ============
</Table>

<Table>
<Caption>

                                    SERVICING FEES

<S>                                                     <C>
Gross Servicing Fee                                       158,326.84
Master Servicing Fee                                        3,794.60
Supported Prepayment/Curtailment Interest Shortfall             0.00
                                                        ------------

Net Servicing Fee                                         162,121.44
                                                        ============

</Table>


<PAGE>
<Table>
<Caption>

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

<S>                             <C>              <C>              <C>              <C>
X-1 Basis Risk Reserve Fund         5,000.00             0.00             0.00         5,000.00
X-2 Basis Risk Reserve Fund         5,000.00             0.00             0.00         5,000.00
</Table>


             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

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

             No. of      Principal                       No. of    Principal                     No. of     Principal
              Loans       Balance                         Loans      Balance                      Loans       Balance
<S>          <C>         <C>                <C>           <C>       <C>               <C>         <C>        <C>
0-29 Days          0          0.00          0-29 Days        0         0.00           0-29 Days      0           0.00
30 Days            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

<Caption>

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


<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>



<Table>

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




<PAGE>



<Table>
<Caption>
               Original $        Original %         Current $          Current %       Current Class %     Prepayment %
             --------------    --------------     --------------    --------------     ---------------    --------------
<S>          <C>               <C>                <C>               <C>                <C>                <C>
 Class A     570,533,086.78       99.99998247%    493,997,306.65      100.00000000%         95.957653%          0.000000%
 Class 1A    188,844,086.78       33.09957968%    148,038,844.56       29.96754083%         70.032459%      1,732.470122%
 Class 2A     19,969,086.78        3.50007453%     19,969,086.78        4.04234730%         25.925194%        641.340083%
Class B-1     12,267,086.78        2.15010924%     12,267,086.78        2.48322949%          1.559118%         38.569616%
Class B-2      7,703,086.78        1.35015578%      7,703,086.78        1.55933781%          0.923892%         22.855327%
Class B-3      4,279,086.78        0.75001540%      4,279,086.78        0.86621662%          0.693121%         17.146503%
Class B-4      2,853,086.78        0.50007376%      2,853,086.78        0.57755108%          0.288666%          7.141038%
Class B-5      1,997,086.78        0.35003867%      1,997,086.78        0.40427078%          0.173280%          4.286626%
Class B-6              0.00        0.00000000%              0.00        0.00000000%          0.404271%         10.000892%
</Table>

Please refer to the prospectus supplement for a full description of loss
exposure




<Table>
<Caption>

                              Original $         Original %          Current $            Current %

<S>                         <C>                  <C>                <C>                  <C>
              Bankruptcy       100,000.00        0.01752746%          100,000.00         0.02024303%
                   Fraud    17,115,996.00        3.00000007%        9,879,946.13         2.00000000%
          Special Hazard     6,000,000.00        1.05164785%        5,997,988.72         1.21417438%
</Table>

Limit of subordinate's exposure to certain types of losses


<PAGE>

<Table>
<Caption>

                                                             DELINQUENCY STATUS BY GROUP

                                                                        GROUP 1

               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

<Caption>

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

<S>          <C>             <C>             <C>          <C>            <C>              <C>            <C>            <C>
0-29 Days     0.000000%       0.000000%      0-29 Days     0.000000%       0.000000%      0-29 Days       0.000000%       0.000000%
30 Days       0.000000%       0.000000%      30 Days       0.000000%       0.000000%      30 Days         0.000000%       0.000000%
60 Days       0.000000%       0.000000%      60 Days       0.000000%       0.000000%      60 Days         0.000000%       0.000000%
90 Days       0.000000%       0.000000%      90 Days       0.000000%       0.000000%      90 Days         0.000000%       0.000000%
120 Days      0.000000%       0.000000%      120 Days      0.000000%       0.000000%      120 Days        0.000000%       0.000000%
150 Days      0.000000%       0.000000%      150 Days      0.000000%       0.000000%      150 Days        0.000000%       0.000000%
180+ Days     0.000000%       0.000000%      180+Days      0.000000%       0.000000%      180+ Days       0.000000%       0.000000%
             ---------       ---------                    ---------       ---------                      ---------       ---------
              0.000000%       0.000000%                    0.000000%       0.000000%                      0.000000%       0.000000%

<Caption>

                                                                GROUP 2

               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

<Caption>

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

<S>          <C>             <C>             <C>          <C>            <C>              <C>            <C>            <C>
0-29 Days     0.000000%       0.000000%      0-29 Days     0.000000%       0.000000%      0-29 Days       0.000000%       0.000000%
30 Days       0.000000%       0.000000%      30 Days       0.000000%       0.000000%      30 Days         0.000000%       0.000000%
60 Days       0.000000%       0.000000%      60 Days       0.000000%       0.000000%      60 Days         0.000000%       0.000000%
90 Days       0.000000%       0.000000%      90 Days       0.000000%       0.000000%      90 Days         0.000000%       0.000000%
120 Days      0.000000%       0.000000%      120 Days      0.000000%       0.000000%      120 Days        0.000000%       0.000000%
150 Days      0.000000%       0.000000%      150 Days      0.000000%       0.000000%      150 Days        0.000000%       0.000000%
180+ Days     0.000000%       0.000000%      180+ Days     0.000000%       0.000000%      180+ Days       0.000000%       0.000000%
             ---------       ---------                    ---------       ---------                      ---------       ---------
              0.000000%       0.000000%                    0.000000%       0.000000%                      0.000000%       0.000000%

<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

<Caption>

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

<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

<Caption>

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

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

</Table>

<PAGE>

                              COLLATERAL STATEMENT

<Table>
<Caption>

Collateral Description                                                                                   Mixed Arm

<S>                                                                                              <C>
Weighted Average Gross Coupon                                                                            2.937708%
Weighted Average Net Coupon                                                                              2.562190%
Weighted Average Pass-Through Rate                                                                       2.553190%
Weighted Average Maturity (Stepdown Calculation)                                                               320

Beginning Scheduled Collateral Loan Count                                                                    1,376
Number of Loans Paid in Full                                                                                    27
Ending Scheduled Collateral Loan Count                                                                       1,349

Beginning Scheduled Collateral Balance                                                              505,945,869.99
Ending Scheduled Collateral Balance                                                                 493,997,306.66
Ending Actual Collateral Balance at 29-Aug-2003                                                     493,990,280.81

Monthly P&I Constant                                                                                  1,240,306.45
Special Servicing Fee                                                                                         0.00
Prepayment Penalties                                                                                          0.00
Realization Loss Amount                                                                                       0.00
Cumulative Realized Loss                                                                                      0.00

Class A Optimal Amount                                                                               12,982,425.23

Ending Scheduled Balance for Premium Loans                                                          493,997,306.66

Scheduled Principal                                                                                       1,705.23
Unscheduled Principal                                                                                11,946,858.10

</Table>

                            MISCELLANEOUS REPORTING

<Table>

<S>                                                                <C>
Pro Rata Senior Percent                                              96.053118%
Senior Percentage                                                   100.000000%
Senior Prepay Percentage                                            100.000000%
Subordinate Percentage                                                0.000000%
Subordinate Prepayment Percentage                                     0.000000%

</Table>




<PAGE>



<Table>
<Caption>

                 GROUP                           1                    2                  TOTAL

Collateral Description                          Mixed ARM        6 Month ARM                Mixed ARM
<S>                                      <C>                     <C>                     <C>
Weighted Average Coupon Rate                   2.865148                3.127213                2.937708
Weighted Average Net Rate                      2.489430                2.752213                2.562190
Pass-Through Rate                              2.480430                2.743213                2.553190
Weighted Average Maturity                           304                     346                     320
Record Date                                  08/29/2003              08/29/2003              08/29/2003
Principal and Interest Constant              875,239.35              365,067.10            1,240,306.45
Beginning Loan Count                                960                     416                   1,376
Loans Paid in Full                                   16                      11                      27
Ending Loan Count                                   944                     405                   1,349
Beginning Scheduled Balance              365,859,302.67          140,086,567.32          505,945,869.99
Ending Scheduled Balance                 359,802,548.88          134,194,757.78          493,997,306.66
Scheduled Principal                            1,705.23                    0.00                1,705.23
Unscheduled Principal                      6,055,048.56            5,891,809.54           11,946,858.10
Scheduled Interest                           873,534.12              365,067.10            1,238,601.22
Servicing Fee                                114,549.79               43,777.05              158,326.84
Master Servicing Fee                           2,743.95                1,050.65                3,794.60
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                                 756,240.38              320,239.40            1,076,479.78
Realized Loss Amount                               0.00                    0.00                    0.00
Cumulative Realized Loss                           0.00                    0.00                    0.00
Percentage of Cumulative Losses                    0.00                    0.00                    0.00
Prepayment Penalties                               0.00                    0.00                    0.00
Special Servicing Fee                              0.00                    0.00                    0.00
</Table>


                            MISCELLANEOUS REPORTING


Group 1

<Table>

<S>                                                              <C>
One Month LIBOR Loans                                            192,300,866.87
Six Month LIBOR Loans                                            167,501,682.01
</Table>