<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

                              FRB SERIES 2002-FRB2
                         RECORD DATE: DECEMBER 31, 2002
                      DISTRIBUTION DATE: FEBRUARY 18, 2003

<TABLE>
<CAPTION>
                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY
------    ---------    -----------   ------------  -------------------   ------------
                       Certificate   Certificate
                          Class      Pass-Through       Beginning          Interest
Class       CUSIP      Description       Rate      Certificate Balance   Distribution
------    ---------    -----------   ------------  -------------------   ------------
<S>       <C>          <C>           <C>           <C>                   <C>
 A-1      336161BT0        SEN         3.98600%        58,114,642.53       193,037.47
 A-2      336161BU7        SEN         1.77000%       307,038,684.31       452,882.06
 A-R      336161BW3        SEN         4.88728%                 0.00             0.00
 B-1      336161BX1        SUB         2.42000%         3,799,000.00         7,661.32
 B-2      336161BY9        SUB         3.22810%         1,519,000.00         4,086.24
 B-3      336161BZ6        SUB         3.22810%         2,279,000.00         6,130.70
 B-4      336161CA0        SUB         3.22810%         1,519,000.00         4,086.24
 B-5      336161CB8        SUB         3.22810%         1,139,000.00         3,064.01
 B-6      336161CC6        SUB         3.22810%         1,146,346.99         3,083.77
  X       336161BV5        SEN         1.08277%                 0.00       339,768.35
------    ---------        ---         -------        --------------     ------------
Totals                                                376,554,673.83     1,013,800.16
------    ---------        ---         -------        --------------     ------------
</TABLE>

<TABLE>
<CAPTION>
                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY
------   ------------   -------------   ------------------   ------------   -------------
          Principal        Current      Ending Certificate      Total        Cumulative
Class    Distribution   Realized Loss        Balance         Distribution   Realized Loss
------   ------------   -------------   ------------------   ------------   -------------
<S>      <C>            <C>             <C>                  <C>            <C>
 A-1        28,582.28       0.00           58,086,060.25       221,619.75       0.00
 A-2     1,889,516.01       0.00          305,149,168.30     2,342,398.07       0.00
 A-R             0.00       0.00                    0.00             0.00       0.00
 B-1             0.00       0.00            3,799,000.00         7,661.32       0.00
 B-2             0.00       0.00            1,519,000.00         4,086.24       0.00
 B-3             0.00       0.00            2,279,000.00         6,130.70       0.00
 B-4             0.00       0.00            1,519,000.00         4,086.24       0.00
 B-5             0.00       0.00            1,139,000.00         3,064.01       0.00
 B-6             0.00       0.00            1,146,346.99         3,083.77       0.00
  X              0.00       0.00                    0.00       339,768.35       0.00
------   -------------      ----          --------------     ------------       ----
Totals   1,918,098.29       0.00          374,636,575.54     2,931,898.45       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>

<TABLE>
<CAPTION>
                        PRINCIPAL DISTRIBUTION STATEMENT
------    --------------  --------------  ------------  -------------  ---------
                             Beginning     Scheduled     Unscheduled
          Original Face     Certificate    Principal      Principal
Class         Amount          Balance     Distribution   Distribution  Accretion
------    --------------  --------------  ------------  -------------  ---------
<S>       <C>             <C>             <C>           <C>            <C>
 A-1       58,144,000.00   58,114,642.53    7,352.41        21,229.87     0.00
 A-2      310,464,000.00  307,038,684.31   34,065.24     1,855,450.77     0.00
 A-R              100.00            0.00        0.00             0.00     0.00
 B-1        3,799,000.00    3,799,000.00        0.00             0.00     0.00
 B-2        1,519,000.00    1,519,000.00        0.00             0.00     0.00
 B-3        2,279,000.00    2,279,000.00        0.00             0.00     0.00
 B-4        1,519,000.00    1,519,000.00        0.00             0.00     0.00
 B-5        1,139,000.00    1,139,000.00        0.00             0.00     0.00
 B-6        1,146,346.99    1,146,346.99        0.00             0.00     0.00
  X                 0.00            0.00        0.00             0.00     0.00
------    --------------  --------------   ---------     ------------     ----
Totals    380,009,446.99  376,554,673.83   41,417.65     1,876,680.64     0.00
------    --------------  --------------   ---------     ------------     ----
</TABLE>

<TABLE>
<CAPTION>
                        PRINCIPAL DISTRIBUTION STATEMENT
------  --------  ---------------  ------------------  ------------------  ---------------
        Realized  Total Principal  Ending Certificate  Ending Certificate  Total Principal
Class   Loss (1)     Reduction          Balance            Percentage        Distribution
------  --------  ---------------  ------------------  ------------------  ---------------
<S>     <C>       <C>              <C>                 <C>                 <C>
 A-1      0.00        28,582.28       58,086,060.25        0.99900351          28,582.28
 A-2      0.00     1,889,516.01      306,149,168.30        0.98288100       1,889,516.01
 A-R      0.00             0.00                0.00        0.00000000               0.00
 B-1      0.00             0.00        3,799,000.00        1.00000000               0.00
 B-2      0.00             0.00        1,519,000.00        1.00000000               0.00
 B-3      0.00             0.00        2,279,000.00        1.00000000               0.00
 B-4      0.00             0.00        1,519,000.00        1.00000000               0.00
 B-5      0.00             0.00        1,139,000.00        1.00000000               0.00
 B-6      0.00             0.00        1,146,346.99        1.00000000               0.00
  X       0.00             0.00                0.00        0.00000000               0.00
------    ----     ------------      --------------        ----------      -------------
Totals    0.00     1,918,098.29      374,636,575.54        0.98586122       1,918,098.29
------    ----     ------------      --------------        ----------      -------------
</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.

<TABLE>
<CAPTION>
                     PRINCIPAL DISTRIBUTION FACTORS STATEMENT
--------  --------------  -------------   ------------   ------------  ----------
                             Beginning     Scheduled     Unscheduled
          Original Face     Certificate    Principal      Principal
Class(2)      Amount          Balance     Distribution   Distribution  Accretion
--------  --------------  -------------   ------------   ------------  ----------
<S>       <C>             <C>             <C>            <C>           <C>
  A-1      58,144,000.00   999.49509029    0.12645174     0.36512572   0.00000000
  A-2     310,464,000.00   988.96710830    0.10972364     5.97637977   0.00000000
  A-R             100.00     0.00000000    0.00000000     0.00000000   0.00000000
  B-1       3,799,000.00  1000.00000000    0.00000000     0.00000000   0.00000000
  B-2       1,519,000.00  1000.00000000    0.00000000     0.00000000   0.00000000
  B-3       2,279,000.00  1000.00000000    0.00000000     0.00000000   0.00000000
  B-4       1,159,000.00  1000.00000000    0.00000000     0.00000000   0.00000000
  B-5       1,139,000.00  1000.00000000    0.00000000     0.00000000   0.00000000
  B-6       1,146,346.99  1000.00000000    0.00000000     0.00000000   0.00000000
   X                0.00     0.00000000    0.00000000     0.00000000   0.00000000
--------  --------------  -------------    ----------     ----------   ----------
</TABLE>

<TABLE>
<CAPTION>
                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT
--------  ----------  ---------------  ------------------  ------------------  ---------------
           Realized   Total Principal  Ending Certificate  Ending Certificate  Total Principal
Class(2)   Loss (3)      Reduction          Balance            Percentage       Distribution
--------  ----------  ---------------  ------------------  ------------------  ---------------
<S>       <C>         <C>              <C>                 <C>                 <C>
  A-1     0.00000000     0.49157746        999.00351283        0.99900351        0.49157746
  A-2     0.00000000     6.08610341        982.88100488        0.98288100        6.08610341
  A-R     0.00000000     0.00000000          0.00000000        0.00000000        0.00000000
  B-1     0.00000000     0.00000000       1000.00000000        1.00000000        0.00000000
  B-2     0.00000000     0.00000000       1000.00000000        1.00000000        0.00000000
  B-3     0.00000000     0.00000000       1000.00000000        1.00000000        0.00000000
  B-4     0.00000000     0.00000000       1000.00000000        1.00000000        0.00000000
  B-5     0.00000000     0.00000000       1000.00000000        1.00000000        0.00000000
  B-6     0.00000000     0.00000000       1000.00000000        1.00000000        0.00000000
   X      0.00000000     0.00000000          0.00000000        0.00000000        0.00000000
--------  ----------     ----------       -------------        ----------        ----------
</TABLE>

(2) Per $1,000 denomination.

(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>

<TABLE>
<CAPTION>
                          INTEREST DISTRIBUTION STATEMENT
-------   --------------  ----------------  --------------  ------------  -----------
                                              Beginning                   Payment of
                                             Certificate/     Current       Unpaid
          Original Face       Current          Notional       Accrued      Interest
Class         Amount      Certificate Rate     Balance        Interest     Shortfall
-------   --------------  ----------------  --------------  ------------  -----------
<S>       <C>             <C>               <C>             <C>           <C>
 A-1       58,144,000.00      3.98600%       58,114,642.53    193,037.47      0.00
 A-2      310,464,000.00      1.77000%      307,038,684.31    452,882.06      0.00
 A-R              100.00      4.88728%                0.00          0.00      0.00
 B-1        3,799,000.00      2.42000%        3,799,000.00      7,661.32      0.00
 B-2        1,519,000.00      3.22810%        1,519,000.00      4,086.24      0.00
 B-3        2,279,000.00      3.22810%        2,279,000.00      6,130.70      0.00
 B-4        1,519,000.00      3.22810%        1,519,000.00      4,086.24      0.00
 B-5        1,139,000.00      3.22810%        1,139,000.00      3,064.01      0.00
 B-6        1,146,346.99      3.22810%        1,146,346.99      3,083.77      0.00
  X                 0.00      1.08277%      376,554,673.85    339,768.35      0.00
------    --------------      -------       --------------  ------------      ----
Totals    380,009,446.99                                    1,013,800.16      0.00
------    --------------      -------       --------------  ------------      ----
</TABLE>

<TABLE>
<CAPTION>
                         INTEREST DISTRIBUTION STATEMENT
-----  ---------  ---------  --------  --------------  ---------  --------------
                     Non-                              Remaining      Ending
        Current   Supported                             Unpaid     Certificate/
        Interest   Interest  Realized  Total Interest   Interest    Notational
Class  Shortfall  Shortfall  Loss(4)    Distribution   Shortfall      Balance
-----  ---------  ---------  --------  --------------  ---------  --------------
<S>    <C>        <C>        <C>       <C>             <C>        <C>
 A-1      0.00       0.00      0.00       193,037.47     0.00      58,086,060.25
 A-2      0.00       0.00      0.00       452,882.06     0.00     305,149,168.30
 A-R      0.00       0.00      0.00             0.00     0.00               0.00
 B-1      0.00       0.00      0.00         7,661.32     0.00       3,799,000.00
 B-2      0.00       0.00      0.00         4,086.24     0.00       1,519,000.00
 B-3      0.00       0.00      0.00         6,130.70     0.00       2,279,000.00
 B-4      0.00       0.00      0.00         4,086.24     0.00       1,519,000.00
 B-5      0.00       0.00      0.00         3,064.01     0.00       1,139,000.00
 B-6      0.00       0.00      0.00         3,083.77     0.00       1,146,346.99
  X       0.00       0.00      0.00       339,768.35     0.00     374,636,575.56
------    ----       ----      ----     ------------     ----     --------------
Totals    0.00       0.00      0.00     1,013,800.16     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.

<TABLE>
<CAPTION>
                     INTEREST DISTRIBUTION FACTORS STATEMENT
-----  --------------  -----------  ----------------  ---------------  ----------
                                                                       Payment of
                         Current       Beginning                         Unpaid
Class  Original Face   Certificate    Certificate/    Current Accrued   Interest
 (5)       Amount         Rate      Notional Balance      Interest     Shortfall
-----  --------------  -----------  ----------------  ---------------  ----------
<S>    <C>             <C>          <C>               <C>              <C>
 A-1    58,144,000.00    3.98600%      999.49509029     3.31998951     0.00000000
 A-2   310,464,000.00    1.77000%      988.96710830     1.45872649     0.00000000
 A-R           100.00    4.88728%        0.00000000     0.00000000     0.00000000
 B-1     3,799,000.00    2.42000%     1000.00000000     2.01666754     0.00000000
 B-2     1,519,000.00    3.22810%     1000.00000000     2.69088558     0.00000000
 B-3     2,279,000.00    3.22810%     1000.00000000     2.69008337     0.00000000
 B-4     1,519,000.00    3.22810%     1000.00000000     2.69008558     0.00000000
 B-5     1,139,000.00    3.22810%     1000.00000000     2.69008780     0.00000000
 B-6     1,146,346.99    3.22810%     1000.00000000     2.69008426     0.00000000
  X              0.00    1.08277%      998.08239225     0.89410501     0.00000000
-----  --------------    -------      -------------     ----------     ----------
</TABLE>

<TABLE>
<CAPTION>
                     INTEREST DISTRIBUTION FACTORS STATEMENT
-----  ----------  -------------  ----------  --------------  ----------   -------------------
                        Non-                                   Remaining
         Current     Supported                                  Unpaid
Class    Interest     Interest     Realized   Total Interest   Interest    Ending Certificate/
 (5)    Shortfall    Shortfall     Loss(6)     Distribution    Shortfall   Notational Balance
-----  ----------  -------------  ----------  --------------  ----------   -------------------
<S>    <C>         <C>            <C>         <C>             <C>          <C>
 A-1   0.00000000    0.00000000   0.00000000    3.31998951    0.00000000       999.00351283
 A-2   0.00000000    0.00000000   0.00000000    1.45872649    0.00000000       982.88100488
 A-R   0.00000000    0.00000000   0.00000000    0.00000000    0.00000000         0.00000000
 B-1   0.00000000    0.00000000   0.00000000    2.01666754    0.00000000      1000.00000000
 B-2   0.00000000    0.00000000   0.00000000    2.69008558    0.00000000      1000.00000000
 B-3   0.00000000    0.00000000   0.00000000    2.69008337    0.00000000      1000.00000000
 B-4   0.00000000    0.00000000   0.00000000    2.69008558    0.00000000      1000.00000000
 B-5   0.00000000    0.00000000   0.00000000    2.69008780    0.00000000      1000.00000000
 B-6   0.00000000    0.00000000   0.00000000    2.69008426    0.00000000      1000.00000000
  X    0.00000000    0.00000000   0.00000000    0.89410501    0.00000000       985.86121616
-----  ----------    ----------   ----------    ----------    ----------   ----------------
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                    3,027,606.10
         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                                                 3,027,606.10

Withdrawals
         Reimbursement for Servicer Advances                           0.00
         Payment of Service Fee                                   95,707.65
         Payment of Interest and Principal                     2,931,898.45
                                                               ------------
Total Withdrawals (Pool Distribution Amount)                   3,027,606.10

Ending Balance                                                         0.00
                                                               ============
</TABLE>

                      PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

Non-Supported Prepayment Curtailment Interest Shortfall                0.00
                                                                       ====
</TABLE>

                                    SERVICING FEES

<TABLE>
<S>                                                               <C>
Gross Servicing Fee                                               94,138.67
Special Servicing Fee                                                  0.00
Trustee Fee                                                        1,568.98
Supported Prepayment/Curtailment Interest Shortfall                    0.00
                                                                  ---------

Net Servicing Fee                                                 95,707.65
                                                                  =========
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<PAGE>

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

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

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

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

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

              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>

Current Period Class A Insufficient Funds:    0.00

Principal Balance of Contaminated Properties  0.00

Periodic Advance                              0.00

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------
                    Original $          Original %         Current $            Current %
<S>               <C>                  <C>               <C>                   <C>
Bankruptcy           100,000.00        0.02631514%          100,000.00         0.02669254%
Fraud              7,600,189.00        2.00000002%        7,600,189.00         2.02868313%
Special Hazard    11,400,283.00        2.99999989%       11,400,283.00         3.04302456%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
                                                     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          o           0.00       90 Days      0          0.00          90 Days       0          0.00
 120 Days          0           0.00      120 Days      0          0.00         120 Days       0          0.00
 150 Days          0           0.00      150 Days      0          0.00         150 Days       0          0.00
 180+ Days         0           0.00      180+ Days     0          0.00         180+ Days      0          0.00
                   -           ----                    -          ----                        -          ----
                   0           0.00                    0          0.00                        0          0.00

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

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

</TABLE>

<TABLE>
<CAPTION>
                                GROUP 1
---------------------------------   -----------------------------------
                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>
<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

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

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

<TABLE>
<CAPTION>
                               GROUP 2
---------------------------------   -----------------------------------
                 REO                                 TOTAL
---------------------------------   -----------------------------------
             No. of     Principal               No. of       Principal
              Loans      Balance                 Loans        Balance
<S>         <C>         <C>         <C>         <C>          <C>
0-29 Days       0         0.00      0-29 Days     0            0.00
  30 Days       0         0.00        30 Days     0            0.00
  60 Days       0         0.00        60 Days     0            0.00
  90 Days       0         0.00        90 Days     0            0.00
 120 Days       0         0.00       120 Days     0            0.00
 150 Days       0         0.00       150 Days     0            0.00
 180+ Days      0         0.00       180+Days     0            0.00
                -         ----                    -            ----
                0         0.00                    0            0.00

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

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<S>                                                         <C>
Collateral Description                                      Fixed Mixed & ARM & Balloon
Weighted Average Gross Coupon                                          3.535766%
Weighted Average Net Coupon                                            3.235766%
Weighted Average Pass-Through Rate                                     3.230766%
Weighted Average Maturity (Stepdown Calculation)                            353

Beginning Scheduled Collateral Loan Count                                   406
Number of Loans Paid in Full                                                  1
Ending Scheduled Collateral Loan Count                                      405

Beginning Scheduled Collateral Balance                           376,554,673.85
Ending Scheduled Collateral Balance                              374,636,575.56
Ending Actual Collateral Balance at 31-Jan-2003                  374,636,575.56

Monthly P&I Constant                                               1,150,925.45
Special Servicing Fee                                                      0.00
Prepayment Penalties                                                       0.00
Realization Loss Amount                                                    0.00
Cumulative Realized Loss                                                   0.00

Ending Scheduled Balance for Premium Loans                       374,636,575.56

Scheduled Principal                                                   41,417.65
Unscheduled Principal                                              1,876,680.64
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                                  <C>
Senior Percentage                                                    100.000000%
Senior Percentage Group 1                                            100.000000%
Senior Percentage Group 2                                            100.000000%
Senior Prepayment Percentage                                         100.000000%
Senior Prepayment Percentage Group 1                                 100.000000%
Senior Prepayment Percentage Group 2                                 100.000000%
Subordinate Percentage                                                 0.000000%
Subordinate Percentage Group 1                                         0.000000%
Subordinate Percentage Group 2                                         0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
        GROUP                                          1                      2                          TOTAL
<S>                                            <C>                    <C>                        <C>
Collateral Description                         Fixed 15/30 & ARM      Fixed 15/30 & ARM          Fixed Mixed & ARM & B
Weighted Average Coupon Rate                            5.192299               3.222326                       3.535766
Weighted Average Net Rate                               4.892299               2.922326                       3.235766
Pass-Through Rate                                       4.887298               2.917326                       3.230766
Weighted Average Maturity                                    355                    351                            353
Record Date                                           01/31/2003             01/31/2003                     01/31/2003
Principal and Interest Constant                       266,592.12             884,333.33                   1,150,925.45
Beginning Loan Count                                          73                    333                            406
Loans Paid in Full                                             0                      1                              1
Ending Loan Count                                             73                    332                            405
Beginning Scheduled Balance                        59,913,281.31         316,641,392.54                 376,554,673.85
Ending Scheduled Balance                           59,884,699.03         314,751,876.53                 374,636,575.56
Scheduled Principal                                     7,352.41              34,065.24                      41,417.65
Unscheduled Principal                                  21,229.87           1,855,450.77                   1,876,680.64
Scheduled Interest                                    259,239.71             850,268.09                   1,109,507.80
Servicing Fee                                          14,978.32              79,160.35                      94,138.67
Master Servicing Fee                                        0.00                   0.00                           0.00
Trustee Fee                                               249.63               1,319.35                       1,568.98
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                                          244,011.76             769,788.39                   1,013,800.15
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>