<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 2004-6
                         RECORD DATE: SEPTEMBER 30, 2004
                       DISTRIBUTION DATE: OCTOBER 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate                        Beginning
                      Class     Certificate Pass-   Certificate      Interest       Principal
Class     CUSIP    Description    Through Rate        Balance      Distribution   Distribution
-----------------------------------------------------------------------------------------------
<S>     <C>        <C>          <C>                <C>             <C>            <C>
 A-1    81744FCG0      SEN               2.82183%  482,996,968.59   1,135,778.49  10,889,956.60
 A-2    81744FCH8      SEN               2.09125%  179,059,344.20     312,048.21   3,085,229.61
A-3-A   81744FCJ4      SEN               2.16375%  189,403,474.12     341,518.14   3,229,612.97
A-3-B   81744FCU9      SEN               2.30625%    3,373,598.78       6,483.64      57,524.91
 X-A    81744FCK1      IO                0.70087%            0.00     217,175.23           0.00
 X-B    81744FCL9      IO                0.37383%            0.00       7,780.40           0.00
 B-1    81744FCN5      SUB               2.31125%   15,725,000.00      30,287.01           0.00
 B-2    81744FCP0      SUB               2.69125%    9,250,000.00      20,745.05           0.00
 B-3    81744FCQ8      SUB               2.82582%    5,550,000.00      13,069.43           0.00
 B-4    81744FCR6      SUB               2.82582%    2,313,000.00       5,446.77           0.00
 B-5    81744FCS4      SUB               2.82582%    2,313,000.00       5,446.77           0.00
 B-6    81744FCT2      SUB               2.82582%    4,166,584.59       9,811.69           0.00
 A-R    81744FCM7       R                2.82738%            0.00           0.23           0.00
                                                   --------------------------------------------
Totals                                             894,150,970.28   2,105,591.06  17,262,324.09
                                                   --------------------------------------------

<CAPTION>
            Current     Ending Certificate       Total        Cumulative
Class    Realized Loss       Balance         Distribution    Realized Loss
--------------------------------------------------------------------------
<S>      <C>            <C>                  <C>             <C>
 A-1           0.00        472,107,011.99     12,025,735.09           0.00
 A-2           0.00        175,974,114.59      3,397,277.82           0.00
A-3-A          0.00        186,173,861.16      3,571,131.11           0.00
A-3-B          0.00          3,316,073.86         64,008.55           0.00
 X-A           0.00                  0.00        217,175.23           0.00
 X-B           0.00                  0.00          7,780.40           0.00
 B-1           0.00         15,725,000.00         30,287.01           0.00
 B-2           0.00          9,250,000.00         20,745.05           0.00
 B-3           0.00          5,550,000.00         13,069.43           0.00
 B-4           0.00          2,313,000.00          5,446.77           0.00
 B-5           0.00          2,313,000.00          5,446.77           0.00
 B-6           0.00          4,166,584.59          9,811.69           0.00
 A-R           0.00                  0.00              0.23           0.00
               -----------------------------------------------------------
Totals         0.00        876,888,646.19     19,367,915.15           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
Class       Amount         Balance      Distribution  Distribution   Accretion  Loss (1)
----------------------------------------------------------------------------------------
<S>     <C>             <C>             <C>           <C>            <C>        <C>
 A-1    500,000,000.00  482,996,968.59     6,076.50   10,883,880.10     0.00      0.00
 A-2    185,687,000.00  179,059,344.20       811.75    3,084,417.86     0.00      0.00
 A-3    196,500,000.00  189,403,474.12     3,187.07    3,226,425.89     0.00      0.00
 X-1      3,500,000.00    3,373,598.78        56.77       57,468.15     0.00      0.00
 X-2              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
 B-1     15,725,000.00   15,725,000.00         0.00            0.00     0.00      0.00
 B-2      9,250,000.00    9,250,000.00         0.00            0.00     0.00      0.00
 B-3      5,550,000.00    5,550,000.00         0.00            0.00     0.00      0.00
 B-4      2,313,000.00    2,313,000.00         0.00            0.00     0.00      0.00
 B-5      2,313,000.00    2,313,000.00         0.00            0.00     0.00      0.00
 B-6      4,166,584.59    4,166,584.59         0.00            0.00     0.00      0.00
 A-R            100.00            0.00         0.00            0.00     0.00      0.00
        --------------------------------------------------------------------------------
Totals  925,004,684.59  894,150,970.28    10,132.09   17,252,192.00     0.00      0.00
        --------------------------------------------------------------------------------

<CAPTION>
        Total Principal  Ending Certificate   Ending Certificate   Total Principal
Class      Reduction          Balance             Percentage        Distribution
----------------------------------------------------------------------------------
<S>     <C>              <C>                  <C>                  <C>
 A-1     10,889,956.60     472,107,011.99         0.94421402        10,889,956.60
 A-2      3,085,229.61     175,974,114.59         0.94769216         3,085,229.61
 A-3      3,229,612.97     186,173,861.16         0.94744968         3,229,612.97
 X-1         57,524.91       3,316,073.86         0.94744967            57,624.91
 X-2              0.00               0.00         0.00000000                 0.00
 X-B              0.00               0.00         0.00000000                 0.00
 B-1              0.00      15,725,000.00         1.00000000                 0.00
 B-2              0.00       9,250,000.00         1.00000000                 0.00
 B-3              0.00       5,550,000.00         1.00000000                 0.00
 B-4              0.00       2,313,000.00         1.00000000                 0.00
 B-5              0.00       2,313,000.00         1.00000000                 0.00
 B-6              0.00       4,166,584.59         1.00000000                 0.00
 A-R              0.00               0.00         0.00000000                 0.00
        --------------------------------------------------------------------------
Totals   17,262,324.09     876,888,646.19         0.94798292        17,262,324.09
        --------------------------------------------------------------------------
</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
        Original Face     Certificate     Principal     Principal                 Realized
Class      Amount           Balance     Distribution  Distribution   Accretion    Loss (3)
-------------------------------------------------------------------------------------------
<S>     <C>             <C>             <C>           <C>            <C>         <C>
 A-1    500,000,000.00   965.99393718    0.01215300    21.76776020   0.00000000  0.00000000
 A-2    185,687,000.00   964.30737855    0.00437160    16.61084438   0.00000000  0.00000000
 A-3    196,500,000.00   963.88536448    0.01621919    16.41947018   0.00000000  0.00000000
 X-1      3,500,000.00   963.88536571    0.01622000    16.41947143   0.00000000  0.00000000
 X-2              0.00     0.00000000    0.00000000     0.00000000   0.00000000  0.00000000
 X-B              0.00     0.00000000    0.00000000     0.00000000   0.00000000  0.00000000
 B-1     15,725,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000
 B-2      9,250,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000
 B-3      5,550,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000
 B-4      2,313,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000
 B-5      2,313,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000
 B-6      4,166,584.59  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000
 A-R            100.00     0.00000000    0.00000000     0.00000000   0.00000000  0.00000000

<CAPTION>
        Total Principal  Ending Certificate    Ending Certificate   Total Principal
Class      Reduction          Balance              Percentage        Distribution
-----------------------------------------------------------------------------------
<S>     <C>              <C>                   <C>                  <C>
 A-1      21.77991320        944.21402398          0.94421402         21.77991320
 A-2      16.61521598        947.69216256          0.94769216         16.61521598
 A-3      16.43568941        947.44967511          0.94744968         16.43568941
 X-1      16.43568857        947.44967429          0.94744967         16.43568857
 X-2       0.00000000          0.00000000          0.00000000          0.00000000
 X-B       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
 A-R       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.

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                              Beginning                    Payment of
                                            Certificate/      Current        Unpaid      Current
        Original Face       Current           Notional        Accrued       Interest    Interest
 Class     Amount       Certificate Rate       Balance        Interest     Shortfall    Shortfall
-------------------------------------------------------------------------------------------------
<S>     <C>             <C>                <C>              <C>            <C>          <C>
  A-1   500,000,000.00      2.82183%       482,996,968.59   1,135,778.49      0.00         0.00
  A-2   185,687,000.00      2.09125%       179,059,344.20     312,048.21      0.00         0.00
  A-3   196,500,000.00      2.16375%       189,403,474.12     341,518.14      0.00         0.00
  X-1     3,500,000.00      2.30625%         3,373,598.78       6,483.64      0.00         0.00
  X-2             0.00      0.70087%       371,836,417.10     217,175.23      0.00         0.00
  X-B             0.00      0.37383%        24,975,000.00       7,780.40      0.00         0.00
  B-1    15,725,000.00      2.31125%        15,725,000.00      30,287.01      0.00         0.00
  B-2     9,250,000.00      2.69125%         9,250,000.00      20,745.05      0.00         0.00
  B-3     5,550,000.00      2.82582%         5,550,000.00      13,069.43      0.00         0.00
  B-4     2,313,000.00      2.82582%         2,313,000.00       5,446.77      0.00         0.00
  B-5     2,313,000.00      2.82582%         2,313,000.00       5,446.77      0.00         0.00
  B-6     4,166,584.59      2.82582%         4,166,584.59       9,811.69      0.00         0.00
  A-R           100.00      2.82738%                 0.00           0.00      0.00         0.00
        --------------                                      -----------------------------------
Totals  925,004,684.59                                      2,105,590.83      0.00         0.00
        --------------                                      -----------------------------------

<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-1      0.00      0.00       1,135,778.49      0.00     472,107,011.99
  A-2      0.00      0.00         312,048.21      0.00     175,974,114.59
  A-3      0.00      0.00         341,518.14      0.00     186,173,861.16
  X-1      0.00      0.00           6,483.64      0.00       3,316,073.86
  X-2      0.00      0.00         217,175.23      0.00     365,464,049.61
  X-B      0.00      0.00           7,780.40      0.00      24,975,000.00
  B-1      0.00      0.00          30,287.01      0.00      15,725,000.00
  B-2      0.00      0.00          20,745.05      0.00       9,250,000.00
  B-3      0.00      0.00          13,069.43      0.00       5,550,000.00
  B-4      0.00      0.00           5,446.77      0.00       2,313,000.00
  B-5      0.00      0.00           5,446.77      0.00       2,313,000.00
  B-6      0.00      0.00           9,811.69      0.00       4,166,584.59
  A-R      0.00      0.00               0.23      0.00               0.00
           -------------------------------------------
Totals     0.00      0.00       2,105,591.06      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
Class  Original Face   Certificate     Certificate/    Current Accrued   Interest     Interest
 (5)      Amount           Rate      Notional Balance      Interest      Shortfall    Shortfall
-----------------------------------------------------------------------------------------------
<S>    <C>             <C>           <C>               <C>               <C>         <C>
 A-1   500,000,000.00    2.82183%       965.99393718     2.27155698      0.00000000  0.00000000
 A-2   185,687,000.00    2.09125%       964.30737855     1.68050650      0.00000000  0.00000000
 A-3   196,500,000.00    2.16375%       963.88536448     1.73800580      0.00000000  0.00000000
 X-1     3,500,000.00    2.30625%       963.88536571     1.85246857      0.00000000  0.00000000
 X-2             0.00    0.70087%       964.08854097     0.56308673      0.00000000  0.00000000
 X-B             0.00    0.37383%      1000.00000000     0.31152753      0.00000000  0.00000000
 B-1    15,725,000.00    2.31125%      1000.00000000     1.92604197      0.00000000  0.00000000
 B-2     9,250,000.00    2.69125%      1000.00000000     2.24270811      0.00000000  0.00000000
 B-3     5,550,000.00    2.82582%      1000.00000000     2.35485225      0.00000000  0.00000000
 B-4     2,313,000.00    2.82582%      1000.00000000     2.35485084      0.00000000  0.00000000
 B-5     2,313,000.00    2.82582%      1000.00000000     2.35485084      0.00000000  0.00000000
 B-6     4,166,584.59    2.82582%      1000.00000000     2.35485199      0.00000000  0.00000000
 A-R           100.00    2.82738%         0.00000000     0.00000000      0.00000000  0.00000000

<CAPTION>
            Non-                                    Remaining
         Supported                                   Unpaid
Class    Interest      Realized    Total Interest   Interest     Ending Certificate/
 (5)     Shortfall     Loss (6)     Distribution    Shortfall    Notational Balance
------------------------------------------------------------------------------------
<S>      <C>          <C>          <C>              <C>          <C>
 A-1     0.00000000   0.00000000     2.27155698     0.00000000       944.21402398
 A-2     0.00000000   0.00000000     1.68050650     0.00000000       947.69216256
 A-3     0.00000000   0.00000000     1.73800580     0.00000000       947.44967511
 X-1     0.00000000   0.00000000     1.85246857     0.00000000       947.44967429
 X-2     0.00000000   0.00000000     0.56308673     0.00000000       947.56641943
 X-B     0.00000000   0.00000000     0.31152753     0.00000000      1000.00000000
 B-1     0.00000000   0.00000000     1.92604197     0.00000000      1000.00000000
 B-2     0.00000000   0.00000000     2.24270811     0.00000000      1000.00000000
 B-3     0.00000000   0.00000000     2.35485225     0.00000000      1000.00000000
 B-4     0.00000000   0.00000000     2.35485084     0.00000000      1000.00000000
 B-5     0.00000000   0.00000000     2.35485084     0.00000000      1000.00000000
 B-6     0.00000000   0.00000000     2.35485199     0.00000000      1000.00000000
 A-R     0.00000000   0.00000000     2.30000000     0.00000000         0.00000000
</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.

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
     Payments of Interest and Principal                             19,647,304.87
     Liquidations, Insurance Proceeds, Reserve Funds                         0.00
     Proceeds from Repurchased Loans                                         0.00
     Other Amounts (Servicer Advances)                                  18,120.97
     Realized Losses (Gains, Subsequent Expenses & Recoveries)               0.00
     Prepayment Penalties                                                    0.00
                                                                   --------------
Total Deposits                                                      19,665,425.84

Withdrawals
     Reimbursement for Servicer Advances                                12,920.67
     Payment of Service Fee                                            284,590.01
     Payment of Interest and Principal                              19,367,915.16
                                                                   --------------
Total Withdrawals (Pool Distribution Amount)                        19,665,425.84

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                                               279,746.69
Master Servicing Fee                                                4,843.32
Supported Prepayment/Curtailment Interest Shortfall                     0.00
                                                                  ----------

Net Servicing Fee                                                 284,590.01
                                                                  ==========
</TABLE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                     Beginning     Current     Current     Ending
          Account Type                Balance    Withdrawals   Deposits    Balance
-----------------------------------------------------------------------------------
<S>                                  <C>         <C>           <C>         <C>
Class X-A Pool 2 Comp Sub Account    4,500.00       0.00         0.00      4,500.00
Class X-A Pool 3 Comp Sub Account    4,500.00       0.00         0.00      4,500.00
Class X-B Sub Account                1,000.00       0.00         0.00      1,000.00
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

                                   DELINQUENT

<TABLE>
<CAPTION>
                   No. of          Principal
                    Loans           Balance
<S>                <C>           <C>
0-29 Days             0                  0.00
30 Days              24          6,968,358.38
60 Days               0                  0.00
90 Days               1            282,000.00
120 Days              0                  0.00
150 Days              0                  0.00
180+ Days             0                  0.00
                     --          ------------
                     25          7,250,358.38
</TABLE>

<TABLE>
<CAPTION>
                   No. of        Principal
                    Loans         Balance
<S>               <C>            <C>
0-29 Days         0.000000%      0.000000%
30 Days           0.887902%      0.794668%
60 Days           0.000000%      0.000000%
90 Days           0.036996%      0.032159%
120 Days          0.000000%      0.000000%
150 Days          0.000000%      0.000000%
180+ Days         0.000000%      0.000000%
                  --------       --------
                  0.924898%      0.826828%
</TABLE>

                                   BANKRUPTCY

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

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

                                   FORECLOSURE

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

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

                                       REO

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

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

                                      TOTAL

<TABLE>
<CAPTION>
                   No. of          Principal
                    Loans           Balance
<S>               <C>            <C>
0-29 Days             0                  0.00
30 Days              24          6,968,358.38
60 Days               0                  0.00
90 Days               1            282,000.00
120 Days              0                  0.00
150 Days              0                  0.00
180+ Days             0                  0.00
                     --          ------------
                     25          7,250,358.38
</TABLE>

<TABLE>
<CAPTION>
                   No. of        Principal
                    Loans         Balance
<S>               <C>            <C>
0-29 Days         0.000000%      0.000000%
30 Days           0.887902%      0.794668%
60 Days           0.000000%      0.000000%
90 Days           0.036996%      0.032159%
120 Days          0.000000%      0.000000%
150 Days          0.000000%      0.000000%
180+ Days         0.000000%      0.000000%
                  --------       --------
                  0.924898%      0.826828%
</TABLE>

<TABLE>
<S>                                         <C>   <C>                                           <C>   <C>               <C>
Current Period Class A Insufficient Funds:  0.00  Principal Balance of Contaminated Properties  0.00  Periodic Advance  18,120.97
</TABLE>

<TABLE>
<CAPTION>
             Original $    Original%     Current $     Current %   Current Class %   Prepayment %
           -------------  ----------   -------------  ----------   ---------------   ------------
<S>        <C>            <C>          <C>            <C>          <C>               <C>
Class A    39,317,584.59  4.25052816%  39,317,584.59  4.48376025%    95.516240%        0.000000%
Class B-1  23,592,584.59  2.55053677%  23,592,584.59  2.69048809%     1.793272%       39.994827%
Class B-2  14,342,584.59  1.55054183%  14,342,584.59  1.63562211%     1.054866%       23.526369%
Class B-3   8,792,584.59  0.95054487%   8,792,584.59  1.00270252%     0.632920%       14.115821%
Class B-4   6,479,584.59  0.70049208%   6,479,584.59  0.73892901%     0.263774%        5.882864%
Class B-5   4,166,584.59  0.45043930%   4,166,584.59  0.47515550%     0.263774%        5.882864%
Class B-6           0.00  0.00000000%           0.00  0.00000000%     0.475155%       10.597255%
</TABLE>

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

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                   DELINQUENT

GROUP ONE

<TABLE>
<CAPTION>
                   No. of          Principal
                   Loans            Balance
<S>               <C>            <C>
0-29 Days             0                  0.00
30 Days              14          4,512,169.23
60 Days               0                  0.00
90 Days               1            282,000.00
120 Days              0                  0.00
150 Days              0                  0.00
180+ Days             0                  0.00
                     --          ------------
                     15          4,794,169.23
</TABLE>

<TABLE>
<CAPTION>
                   No. of        Principal
                   Loans          Balance
<S>               <C>            <C>
0-29 Days         0.000000%      0.000000%
30 Days           0.906736%      0.912838%
60 Days           0.000000%      0.000000%
90 Days           0.064767%      0.057050%
120 Days          0.000000%      0.000000%
150 Days          0.000000%      0.000000%
180+ Days         0.000000%      0.000000%
                  --------       --------
                  0.971503%      0.969888%
</TABLE>

                                   BANKRUPTCY

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

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

                                   FORECLOSURE

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

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

                                       REO

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

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

                                      TOTAL

<TABLE>
<CAPTION>
                   No. of          Principal
                   Loans            Balance
<S>               <C>            <C>
0-29 Days             0                   0.00
30 Days              14           4,512,169.23
60 Days               0                   0.00
90 Days               1             282,000.00
120 Days              0                   0.00
150 Days              0                   0.00
180+ Days             0                   0.00
                     --          -------------
                     15           4,794,169.23
</TABLE>

<TABLE>
<CAPTION>
                   No. of        Principal
                   Loans          Balance
<S>               <C>            <C>
0-29 Days         0.000000%      0.000000%
30 Days           0.906736%      0.912838%
60 Days           0.000000%      0.000000%
90 Days           0.064767%      0.057050%
120 Days          0.000000%      0.000000%
150 Days          0.000000%      0.000000%
180+ Days         0.000000%      0.000000%
                  --------       --------
                  0.971503%      0.969888%
</TABLE>

                                   DELINQUENT

GROUP TWO

<TABLE>
<CAPTION>
                   No. of          Principal
                   Loans            Balance
<S>               <C>            <C>
0-29 Days            0                   0.00
30 Days              8           1,924,189.16
60 Days              0                   0.00
90 Days              0                   0.00
120 Days             0                   0.00
150 Days             0                   0.00
180+ Days            0                   0.00
                     -           ------------
                     8           1,924,189.16
</TABLE>

<TABLE>
<CAPTION>
                   No. of        Principal
                   Loans          Balance
<S>               <C>            <C>
0-29 Days         0.000000%      0.000000%
30 Days           1.532567%      1.044509%
60 Days           0.000000%      0.000000%
90 Days           0.000000%      0.000000%
120 Days          0.000000%      0.000000%
150 Days          0.000000%      0.000000%
180+ Days         0.000000%      0.000000%
                  --------       --------
                  1.532567%      1.044509%
</TABLE>

                                   BANKRUPTCY
                                   1.183654%

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

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

                                   FORECLOSURE

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

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

                                       REO

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

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

                                      TOTAL

<TABLE>
<CAPTION>
                   No. of          Principal
                   Loans            Balance
<S>               <C>            <C>
0-29 Days            0                   0.00
30 Days              8           1,924,189.16
60 Days              0                   0.00
90 Days              0                   0.00
120 Days             0                   0.00
150 Days             0                   0.00
180+ Days            0                   0.00
                     -           ------------
                     8           1,924,189.16
</TABLE>

<TABLE>
<CAPTION>
                   No. of        Principal
                   Loans          Balance
<S>               <C>            <C>
0-29 Days         0.000000%      0.000000%
30 Days           1.532567%      1.044509%
60 Days           0.000000%      0.000000%
90 Days           0.000000%      0.000000%
120 Days          0.000000%      0.000000%
150 Days          0.000000%      0.000000%
180+ Days         0.000000%      0.000000%
                  --------       --------
                  1.532567%      1.044509%
</TABLE>
<PAGE>

                                   DELINQUENT

GROUP THREE

<TABLE>
<CAPTION>
                No. of        Principal
                 Loans         Balance
<S>             <C>          <C>
0-29 Days          0               0.00
30 Days            2         531,999.99
60 Days            0               0.00
90 Days            0               0.00
120 Days           0               0.00
150 Days           0               0.00
180+ Days          0               0.00
                   -         ----------
                   2         531,999.99
</TABLE>

<TABLE>
<CAPTION>
                No. of        Principal
                 Loans         Balance
<S>            <C>            <C>
0-29 Days      0.000000%       0.000000%
30 Days        0.313972%       0.268188%
60 Days        0.000000%       0.000000%
90 Days        0.000000%       0.000000%
120 Days       0.000000%       0.000000%
150 Days       0.000000%       0.000000%
180+ Days      0.000000%       0.000000%
               --------        --------
               0.313972%       0.268188%
</TABLE>

                                   BANKRUPTCY
                                   1.183654%

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

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

                                   FORECLOSURE

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

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

                                       REO

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

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

                                      TOTAL

<TABLE>
<CAPTION>
                No. of        Principal
                 Loans         Balance
<S>             <C>          <C>
0-29 Days          0               0.00
30 Days            2         531,999.99
60 Days            0               0.00
90 Days            0               0.00
120 Days           0               0.00
150 Days           0               0.00
180+ Days          0               0.00
                   -         ----------
                   2         531,999.99
</TABLE>

<TABLE>
<CAPTION>
                No. of        Principal
                Loans          Balance
<S>            <C>            <C>
0-29 Days      0.000000%       0.000000%
30 Days        0.313972%       0.268188%
60 Days        0.000000%       0.000000%
90 Days        0.000000%       0.000000%
120 Days       0.000000%       0.000000%
150 Days       0.000000%       0.000000%
180+ Days      0.000000%       0.000000%
               --------        --------
               0.313972%       0.268188%
</TABLE>
<PAGE>

                              COLLATERAL STATEMENT

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

Weighted Average Gross Coupon                                   3.208293%
Weighted Average Net Coupon                                     2.832857%
Weighted Average Pass-Through Rate                              2.825856%
Weighted Average Maturity (Stepdown Calculation)                     341

Beginning Scheduled Collateral Loan Count                          2,749
Number of Loans Paid in Full                                          46
Ending Scheduled Collateral Loan Count                             2,703

Beginning Scheduled Collateral Balance                    894,150,970.28
Ending Scheduled Collateral Balance                       876,888,646.19
Ending Actual Collateral Balance at 30-Sept-2004          876,888,797.18

Monthly P&I Constant                                        2,400,713.95
Special Servicing Fee                                               0.00
Prepayment Penalties                                                0.00
Realization Loss Amount                                             0.00
Cumulative Realized Loss                                            0.00

Class A Optimal Amount                                     19,275,327.80

Scheduled Principal                                            10,132.09
Unscheduled Principal                                      17,252,192.00
</TABLE>

MISCELLANEOUS REPORTING

Rapid Prepayment Condition?                                   NO

<PAGE>

<TABLE>
<CAPTION>
           GROUP                          GROUP ONE                 GROUP TWO            GROUP THREE                 TOTAL
<S>                                   <C>                        <C>                  <C>                        <C>
Collateral Description                6 Month LIBOR ARM               Mixed ARM       6 Month LIBOR ARM               Mixed ARM
Weighted Average Coupon Rate                   3.204214                3.228502                3.199739                3.208293
Weighted Average Net Rate                      2.828915                2.853195                2.823843                2.832857
Pass-Through Rate                              2.821892                2.845711                2.817343                2.825856
Weighted Average Maturity                           342                     337                     342                     341
Record Date                                  09/30/2004              09/30/2004              09/30/2004              09/30/2004
Principal and Interest Constant            1,355,027.09              504,739.66              540,947.20            2,400,713.95
Beginning Loan Count                              1,570                     530                     649                   2,749
Loans Paid in Full                                   26                       8                      12                      46
Ending Loan Count                                 1,544                     522                     637                   2,703
Beginning Scheduled Balance              505,191,124.41          187,304,656.84          201,655,189.03          894,150,970.28
Ending Scheduled Balance                 494,301,167.81          184,219,427.23          198,368,051.15          876,888,646.19
Scheduled Principal                            6,076.50                  811.75                3,243.84               10,132.09
Unscheduled Principal                     10,883,880.10            3,084,417.86            3,283,894.04           17,252,192.00
Scheduled Interest                         1,348,950.59              503,927.91              537,703.36            2,390,581.86
Servicing Fee                                157,998.21               58,580.67               63,167.81              279,746.69
Master Servicing Fee                           2,736.45                1,014.57                1,092.30                4,843.32
Trustee Fee                                        0.00                    0.00                    0.00                    0.00
FRY Amount                                         0.00                    0.00                    0.00                    0.00
Special Hazard Fee                                 0.00                    0.00                    0.00                    0.00
Other Fee                                        220.43                  153.53                    0.00                  373.96
Pool Insurance Fee                                 0.00                    0.00                    0.00                    0.00
Spread 1                                           0.00                    0.00                    0.00                    0.00
Spread 2                                           0.00                    0.00                    0.00                    0.00
Spread 3                                           0.00                    0.00                    0.00                    0.00
Net Interest                               1,187,995.50              444,179.14              473,443.25            2,105,617.89
Realized Loss Amount                               0.00                    0.00                    0.00                    0.00
Cumulative Realized Loss                           0.00                    0.00                    0.00                    0.00
Percentage of Cumulative Losses                    0.00                    0.00                    0.00                    0.00
Prepayment Penalties                               0.00                    0.00                    0.00                    0.00
Special Servicing Fee                              0.00                    0.00                    0.00                    0.00
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                        <C>
Group One

Pro-Rata Senior Percent                                     95.606780%
Senior Percent                                             100.000000%
Senior Prepay Percent                                      100.000000%
Subordinate Percent                                          0.000000%
Subordinate Prepay Percent                                   0.000000%
Interest Transfer Amount                                         0.00
Principal Transfer Amount                                        0.00


Group Two

Pro-Rata Senior Percent                                     95.597914%
Senior Percent                                             100.000000%
Senior Prepay Percent                                      100.000000%
Subordinate Percent                                          0.000000%
Subordinate Prepay Percent                                   0.000000%
Interest Transfer Amount                                         0.00
Principal Transfer Amount                                        0.00


Group Three

Pro-Rata Senior Percent                                     95.597378%
Senior Percent                                             100.000000%
Senior Prepay Percent                                      100.000000%
Subordinate Percent                                          0.000000%
Subordinate Prepay Percent                                   0.000000%
Interest Transfer Amount                                         0.00
Principal Transfer Amount                                        0.00
</TABLE>