<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 2002-7
                          RECORD DATE: JANUARY 31, 2003
                      DISTRIBUTION DATE: FEBRUARY 20, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                              Certificate     Certificate        Beginning
                                 Class        Pass-Through      Certificate        Interest         Principal
   Class          CUSIP       Description         Rate            Balance        Distribution     Distribution
-----------     ---------     -----------     -------------    --------------    --------------   --------------
<S>             <C>           <C>             <C>              <C>               <C>              <C>
     A          81743YAA5         SEN               1.70125%   517,486,190.73        733,644.48     4,428,134.76
    A-R         SMT0207AR         SEN               3.52228%             0.00              0.00             0.00
    B-1         81743YAE7         SUB               2.11125%     8,080,000.00         14,215.75             0.00
    B-2         81743YAF4         SUB               3.18299%     5,771,000.00         15,307.52             0.00
    B-3         81743YAG2         SUB               3.18299%     3,463,000.00          9,185.58             0.00
    B-4         SMT0207B4         SUB               3.18299%     1,442,000.00          3,824.89             0.00
    B-5         SMT0207B5         SUB               3.18299%     1,154,000.00          3,060.97             0.00
    B-6         SMT0207B6         SUB               3.18299%     2,600,498.71          6,897.80             0.00
    X-1         81743YAC1         SEN               1.10142%             0.00         83,388.56             0.00
    X-2         81743YAD9         SEN               1.55360%             0.00        562,810.63             0.00
-----------                                                    --------------    --------------   --------------
Totals                                                         539,996,689.44      1,432,336.18     4,428,134.76
</TABLE>

<TABLE>
<CAPTION>
                                                   Ending
                                 Current         Certificate         Total          Cumulative
   Class          CUSIP       Realized Loss        Balance        Distribution     Realized Loss
-----------     ---------     ---------------   --------------    --------------   --------------
<S>             <C>           <C>               <C>               <C>              <C>
     A          81743YAA5                0.00   513,058,055.97      5,161,779.24             0.00
    A-R         SMT0207AR                0.00             0.00              0.00             0.00
    B-1         81743YAE7                0.00     8,080,000.00         14,215.75             0.00
    B-2         81743YAF4                0.00     5,771,000.00         15,307.52             0.00
    B-3         81743YAG2                0.00     3,463,000.00          9,185.58             0.00
    B-4         SMT0207B4                0.00     1,442,000.00          3,824.89             0.00
    B-5         SMT0207B5                0.00     1,154,000.00          3,060.97             0.00
    B-6         SMT0207B6                0.00     2,600,498.71          6,897.80             0.00
    X-1         81743YAC1                0.00             0.00         83,388.56             0.00
    X-2         81743YAD9                0.00             0.00        562,810.63             0.00
-----------                   ---------------   --------------    --------------   --------------
Totals                                   0.00   535,568,554.68      5,860,470.94             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>
                                 Beginning       Scheduled      Unscheduled
              Original Face     Certificate      Principal       Principal                    Realized
   Class         Amount           Balance       Distribution   Distribution     Accretion     Loss (1)
-----------   --------------    --------------  ------------   --------------   ----------    ----------
<S>           <C>               <C>             <C>            <C>              <C>           <C>
     A        554,686,000.00    517,486,190.73          0.00     4,428,134.76         0.00          0.00
    A-R               100.00              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
    B-2         5,771,000.00      5,771,000.00          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
    B-4         1,442,000.00      1,442,000.00          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
    B-6         2,600,498.71      2,600,498.71          0.00             0.00         0.00          0.00
    X-1                50.00              0.00          0.00             0.00         0.00          0.00
    X-2                50.00              0.00          0.00             0.00         0.00          0.00
-----------   --------------    --------------  ------------   --------------   ----------    ----------
Totals        577,196,698.71    539,996,689.44          0.00     4,428,134.76         0.00          0.00
</TABLE>

<TABLE>
<CAPTION>
                                      Ending              Ending
              Total Principal      Certificate         Certificate       Total Principal
   Class         Reduction           Balance            Percentage        Distribution
-----------   ----------------     ---------------     ---------------   ----------------
<S>           <C>                  <C>                 <C>               <C>
     A            4,428,134.76      513,058,055.97          0.92495224       4,428,134.76
    A-R                   0.00                0.00          0.00000000               0.00
    B-1                   0.00        8,080,000.00          1.00000000               0.00
    B-2                   0.00        5,771,000.00          1.00000000               0.00
    B-3                   0.00        3,463,000.00          1.00000000               0.00
    B-4                   0.00        1,442,000.00          1.00000000               0.00
    B-5                   0.00        1,154,000.00          1.00000000               0.00
    B-6                   0.00        2,600,498.71          1.00000000               0.00
    X-1                   0.00                0.00          0.00000000               0.00
    X-2                   0.00                0.00          0.00000000               0.00
-----------   ----------------     ---------------     ---------------   ----------------
Totals            4,428,134.76      535,568,554.68          0.92787876       4,428,134.76
</TABLE>

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

<TABLE>
<CAPTION>
                                 Beginning       Scheduled      Unscheduled
              Original Face     Certificate      Principal       Principal                     Realized
   Class         Amount           Balance       Distribution   Distribution     Accretion      Loss (3)
----------    --------------    --------------  ------------   --------------   -----------    -----------
<S>           <C>               <C>             <C>            <C>              <C>            <C>
     A        554,686,000.00      932.93537376    0.00000000       7.98313778    0.00000000     0.00000000
    A-R               100.00        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
    B-2         5,771,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
    B-3         3,463,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
    B-4         1,442,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
    B-5         1,154,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
    B-6         2,600,498.71     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
    X-1                50.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
    X-2                50.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
</TABLE>

<TABLE>
<CAPTION>
                Total             Ending              Ending
              Principal        Certificate         Certificate       Total Principal
   Class      Reduction          Balance            Percentage        Distribution
----------    ------------     ---------------     ---------------   ----------------
<S>           <C>              <C>                 <C>               <C>
     A          7.98313778        924.95223599          0.92495224         7.98313778
    A-R         0.00000000          0.00000000          0.00000000         0.00000000
    B-1         0.00000000       1000.00000000          1.00000000         0.00000000
    B-2         0.00000000       1000.00000000          1.00000000         0.00000000
    B-3         0.00000000       1000.00000000          1.00000000         0.00000000
    B-4         0.00000000       1000.00000000          1.00000000         0.00000000
    B-5         0.00000000       1000.00000000          1.00000000         0.00000000
    B-6         0.00000000       1000.00000000          1.00000000         0.00000000
    X-1         0.00000000          0.00000000          0.00000000         0.00000000
    X-2         0.00000000          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.

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                  Beginning                      Payment of
                                  Current        Certificate/       Current        Unpaid       Current
             Original Face      Certificate        Notional         Accrued       Interest      Interest
  Class         Amount             Rate            Balance         Interest      Shortfall     Shortfall
---------    ---------------    ------------     --------------    -----------   -----------   -----------
<S>          <C>                <C>              <C>               <C>           <C>           <C>
    A         554,686,000.00         1.70125%    517,486,190.73     733,644.48          0.00          0.00
   A-R                100.00         3.52228%              0.00           0.00          0.00          0.00
   B-1          8,080,000.00         2.11125%      8,080,000.00      14,215.75          0.00          0.00
   B-2          5,771,000.00         3.18299%      5,771,000.00      15,307.52          0.00          0.00
   B-3          3,463,000.00         3.18299%      3,463,000.00       9,185.58          0.00          0.00
   B-4          1,442,000.00         3.18299%      1,442,000.00       3,824.89          0.00          0.00
   B-5          1,154,000.00         3.18299%      1,154,000.00       3,060.97          0.00          0.00
   B-6          2,600,498.71         3.18299%      2,600,498.71       6,897.80          0.00          0.00
   X-1                 50.00         1.10142%     90,852,383.59      83,388.56          0.00          0.00
   X-2                 50.00         1.55360%    434,713,807.14     562,810.63          0.00          0.00
---------    ---------------                                       -----------   -----------   -----------
 Totals       577,196,698.71                                      1,432,336.18          0.00          0.00
</TABLE>

<TABLE>
<CAPTION>
               Non-                                     Remaining         Ending
             Supported                                    Unpaid       Certificate/
             Interest     Realized    Total Interest     Interest       Notational
  Class      Shortfall    Loss (4)     Distribution     Shortfall         Balance
---------    ----------   ----------  ---------------   -----------    ---------------
<S>          <C>          <C>         <C>               <C>            <C>
    A              0.00         0.00       733,644.48          0.00     513,058,055.97
   A-R             0.00         0.00             0.00          0.00               0.00
   B-1             0.00         0.00        14,215.75          0.00       8,080,000.00
   B-2             0.00         0.00        15,307.52          0.00       5,771,000.00
   B-3             0.00         0.00         9,185.58          0.00       3,463,000.00
   B-4             0.00         0.00         3,824.89          0.00       1,442,000.00
   B-5             0.00         0.00         3,060.97          0.00       1,154,000.00
   B-6             0.00         0.00         6,897.80          0.00       2,600,498.71
   X-1             0.00         0.00        83,388.56          0.00      90,375,136.85
   X-2             0.00         0.00       562,810.63          0.00     430,762,919.12
---------    ----------   ----------  ---------------   -----------    ---------------
 Totals            0.00         0.00     1,432,336.18          0.00
</TABLE>

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

<TABLE>
<CAPTION>
                                                                               Payment of
                              Current       Beginning                            Unpaid       Current
            Original Face   Certificate    Certificate/     Current Accrued     Interest     Interest
Class (5)      Amount          Rate      Notional Balance       Interest       Shortfall     Shortfall
---------   --------------  -----------  -----------------  ----------------   -----------   ----------
<S>         <C>             <C>          <C>                <C>                <C>           <C>
    A       554,686,000.00    1.70125%        932.93537376        1.32263024    0.00000000   0.00000000
   A-R              100.00    3.52228%          0.00000000        0.00000000    0.00000000   0.00000000
   B-1        8,080,000.00    2.11125%       1000.00000000        1.75937500    0.00000000   0.00000000
   B-2        5,771,000.00    3.18299%       1000.00000000        2.65249004    0.00000000   0.00000000
   B-3        3,463,000.00    3.18299%       1000.00000000        2.65249206    0.00000000   0.00000000
   B-4        1,442,000.00    3.18299%       1000.00000000        2.65248960    0.00000000   0.00000000
   B-5        1,154,000.00    3.18299%       1000.00000000        2.65248700    0.00000000   0.00000000
   B-6        2,600,498.71    3.18299%       1000.00000000        2.65249122    0.00000000   0.00000000
   X-1               50.00    1.10142%    1817047.67180000    1667.771200000    0.00000000   0.00000000
   X-2               50.00    1.55360%    8694276.14280000   11256.212600000    0.00000000   0.00000000
</TABLE>

<TABLE>
<CAPTION>
              Non-                                          Remaining
            Supported                                        Unpaid            Ending
             Interest      Realized      Total Interest     Interest        Certificate/
Class (5)   Shortfall      Loss (6)       Distribution      Shortfall    Notational Balance
---------   -----------    -----------   ----------------   ----------   ------------------
<S>         <C>            <C>           <C>                <C>          <C>
    A        0.00000000     0.00000000         1.32263024   0.00000000        924.95223599
   A-R       0.00000000     0.00000000         0.00000000   0.00000000          0.00000000
   B-1       0.00000000     0.00000000         1.75937500   0.00000000       1000.00000000
   B-2       0.00000000     0.00000000         2.65249004   0.00000000       1000.00000000
   B-3       0.00000000     0.00000000         2.65249206   0.00000000       1000.00000000
   B-4       0.00000000     0.00000000         2.65248960   0.00000000       1000.00000000
   B-5       0.00000000     0.00000000         2.65248700   0.00000000       1000.00000000
   B-6       0.00000000     0.00000000         2.65249122   0.00000000       1000.00000000
   X-1       0.00000000     0.00000000      1667.77120000   0.00000000    1807502.73700000
   X-2       0.00000000     0.00000000    11256.212600000   0.00000000    8615258.38240000
</TABLE>

(5) Per $1 denomination

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

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                         6,032,174.97
         Liquidations, Insurance Proceeds, Reserve Funds                    0.00
         Proceeds from Repurchased Loans                                    0.00
         Other Amounts (Servicer Advances)                              1,750.00
         Realized Losses                                                    0.00
         Prepayment Penalties                                               0.00
                                                                    ------------

Total Deposits                                                      6,033,924.97

Withdrawals

         Reimbursement for Servicer Advances                                0.00
         Payment of Service Fee                                       173,454.03
         Payment of Interest and Principal                          5,860,470.94
                                                                    ------------

Total Withdrawals (Pool Distribution Amount)                        6,033,924.97

Ending Balance                                                              0.00
                                                                    ============
</TABLE>
<PAGE>
                    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                                       168,954.05
      Master Servicing Fee                                        4,499.98
      Supported Prepayment/Curtailment Interest Shortfall             0.00
                                                                ----------

      Net Servicing Fee                                         173,454.03
                                                                ==========
</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     1,512.84
Basis Risk Reserve Fund - X-2      8,487.16       0.00         0.00     8,487.16
</TABLE>
<PAGE>
             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
             DELINQUENT                            BANKRUPTCY                          FORECLOSURE
-------------------------------------  ----------------------------------  -----------------------------------
                 No. of    Principal                 No. of    Principal                 No. of     Principal
                 Loans      Balance                  Loans      Balance                  Loans       Balance
<S>              <C>       <C>         <C>           <C>       <C>         <C>           <C>        <C>

30 Days            1       600,000.00  30 Days         0             0.00  30 Days         0              0.00
60 Days            0             0.00  60 Days         0             0.00  60 Days         0              0.00
90 Days            0             0.00  90 Days         0             0.00  90 Days         0              0.00
120 Days           0             0.00  120 Days        0             0.00  120 Days        0              0.00
150 Days           0             0.00  150 Days        0             0.00  150 Days        0              0.00
180+ Days          0             0.00  180+ Days       0             0.00  180+ Days       0              0.00
                 --------------------                --------------------                ---------------------
                   1       600,000.00                  0             0.00                  0              0.00
</TABLE>

<TABLE>
<CAPTION>
               REO                                TOTAL
----------------------------------  ----------------------------------
              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
<S>           <C>       <C>         <C>           <C>       <C>

30 Days         0             0.00  30 Days         1       600,000.00
60 Days         0             0.00  60 Days         0             0.00
90 Days         0             0.00  90 Days         0             0.00
120 Days        0             0.00  120 Days        0             0.00
150 Days        0             0.00  150 Days        0             0.00
180+ Days       0             0.00  180+ Days       0             0.00
              --------------------                --------------------
                0             0.00                  1       600,000.00
</TABLE>


<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>

30 Days          0.068074%   0.112031%   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%
                 --------------------                --------------------                ---------------------
                 0.068074%   0.112031%               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>

30 Days     0.000000%   0.000000%   30 Days     0.068074%   0.112031%
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%               0.068074%   0.112031%
</TABLE>

<TABLE>
<S>                                                                     <C>
Current Period Class A Insufficient Funds:                                  0.00
Principal Balance of Contaminated Properties                                0.00
Periodic Advance                                                        1,750.00
</TABLE>


<TABLE>
<CAPTION>
                   Original $     Original %       Current $        Current %
<S>               <C>             <C>             <C>               <C>

     Bankruptcy      100,261.00    0.01737033%       100,261.00      0.01872048%
          Fraud   17,315,901.00    3.00000001%    17,315,901.00      3.23318105%
 Special Hazard    5,771,967.00    1.00000000%     5,355,685.55      1.00000000%
</TABLE>

Limit of subordinate's exposure to certain types of losses
<PAGE>
                           DELINQUENCY STATUS BY GROUP

                                 ONE-MONTH LIBOR

<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>

30 Days            0             0.00  30 Days         0             0.00  30 Days         0              0.00
60 Days            0             0.00  60 Days         0             0.00  60 Days         0              0.00
90 Days            0             0.00  90 Days         0             0.00  90 Days         0              0.00
120 Days           0             0.00  120 Days        0             0.00  120 Days        0              0.00
150 Days           0             0.00  150 Days        0             0.00  150 Days        0              0.00
180+ Days          0             0.00  180+ Days       0             0.00  180+ Days       0              0.00
                 --------------------                --------------------                ---------------------
                   0             0.00                  0             0.00                  0              0.00
</TABLE>

<TABLE>
<CAPTION>
               REO                                TOTAL
----------------------------------  ----------------------------------
              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
<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
</TABLE>


<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>

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>

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>


                                 SIX-MONTH LIBOR

<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>

30 Days            1       600,000.00  30 Days         0             0.00  30 Days         0              0.00
60 Days            0             0.00  60 Days         0             0.00  60 Days         0              0.00
90 Days            0             0.00  90 Days         0             0.00  90 Days         0              0.00
120 Days           0             0.00  120 Days        0             0.00  120 Days        0              0.00
150 Days           0             0.00  150 Days        0             0.00  150 Days        0              0.00
180+ Days          0             0.00  180+ Days       0             0.00  180+ Days       0              0.00
                 --------------------                --------------------                ---------------------
                   1       600,000.00                  0             0.00                  0              0.00
</TABLE>

<TABLE>
<CAPTION>
               REO                                TOTAL
----------------------------------  ----------------------------------
              No. of    Principal                 No. of    Principal
              Loans      Balance                  Loans      Balance
<S>           <C>       <C>         <C>           <C>       <C>

30 Days         0             0.00  30 Days         1       600,000.00
60 Days         0             0.00  60 Days         0             0.00
90 Days         0             0.00  90 Days         0             0.00
120 Days        0             0.00  120 Days        0             0.00
150 Days        0             0.00  150 Days        0             0.00
180+ Days       0             0.00  180+ Days       0             0.00
              --------------------                --------------------
                0             0.00                  1       600,000.00
</TABLE>


<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>

30 Days          0.080906%   0.135536%   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%
                 --------------------                --------------------                ---------------------
                 0.080906%   0.135536%               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>

30 Days     0.000000%   0.000000%   30 Days     0.080906%   0.135536%
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%               0.080906%   0.135536%
</TABLE>
<PAGE>
                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                          3.568445%
Weighted Average Net Coupon                                            3.192989%
Weighted Average Pass-Through Rate                                     3.182989%
Weighted Average Maturity (Stepdown Calculation)                             351

Beginning Scheduled Collateral Loan Count                                  1,482
Number of Loans Paid in Full                                                  13
Ending Scheduled Collateral Loan Count                                     1,469

Beginning Scheduled Collateral Balance                            539,996,689.44
Ending Scheduled Collateral Balance                               535,568,554.68
Ending Actual Collateral Balance at 31-Jan-2003                   535,565,140.47

Monthly P&I Constant                                                1,605,791.20
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realization Loss Amount                                                     0.00
Cumulative Realized Loss                                                    0.00
Scheduled Principal                                                         0.00
Unscheduled Principal                                               4,428,134.76
</TABLE>



                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                            <C>
      Pro Rata Senior Percent                                   95.831364%
      Senior Percent                                           100.000000%
      Senior Prepay Percent                                    100.000000%
      Subordinate Percent                                        0.000000%
      Subordinate Prepay Percent                                 0.000000%
      Basis RiskReserve Fund Income X-1
      Basis Risk Reserve Fund Income X-2
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                 GROUP                    ONE MONTH LIBOR      SIX MONTH LIBOR           TOTAL

Collateral Description                            Monthly        6 Month Arm        Mixed Fixed & Arm
<S>                                       <C>                 <C>                   <C>
Weighted Average Coupon Rate                     3.193969           3.646708                 3.568445
Weighted Average Net Rate                        2.818970           3.271157                 3.192989
Pass-Through Rate                                2.808969           3.261156                 3.182989
Weighted Average Maturity                             311                312                      351
Record Date                                    01/31/2003         01/31/2003               01/31/2003
Principal and Interest Constant                248,456.01       1,357,335.19             1,605,791.20
Beginning Loan Count                                  234              1,248                    1,482
Loans Paid in Full                                      1                 12                       13
Ending Loan Count                                     233              1,236                    1,469
Beginning Scheduled Balance                 93,346,922.29     446,649,767.15           539,996,689.44
Ending Scheduled Balance                    92,877,656.64     442,690,898.04           535,568,554.68
Scheduled Principal                                  0.00               0.00                     0.00
Unscheduled Principal                          469,265.65       3,958,869.11             4,428,134.76
Scheduled Interest                             248,456.01       1,357,334.23             1,605,790.24
Servicing Fee                                   29,170.90         139,783.15               168,954.05
Master Servicing Fee                               777.90           3,722.08                 4,499.98
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                                   218,507.21       1,213,829.00             1,432,336.21
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>