<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 2002-10
                            RECORD DATE: MAY 30, 2003
                        DISTRIBUTION DATE: JUNE 20, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------
                           Certificate    Certificate
                              Class       Pass-Through         Beginning          Interest
Class          CUSIP       Description        Rate        Certificate Balance   Distribution
--------------------------------------------------------------------------------------------
<S>          <C>           <C>            <C>             <C>                   <C>
 1A          81743VAA1         SEN          1.71813%         781,249,659.57     1,118,573.73
2A-1         81743VAB9         SEN          1.69813%         181,776,385.30       257,223.28
2A-2         81743VAN3         SEN          1.99813%           3,500,000.00         5,827.88
X-1A         81743VAC7          IO          1.04444%                   0.00       324,589.84
X-1B         81743VAD5          IO          1.24707%                   0.00       424,331.21
 X-2         81743VAP8          IO          1.26544%                   0.00       195,379.69
 X-B         81743VAE3          IO          0.65934%                   0.00        14,134.50
 A-R         81743VAF0         SEN          3.37693%                   0.00             0.00
 B-1         81743VAG8         SUB          2.11813%          12,600,000.00        22,240.36
 B-2         81743VAH6         SUB          2.11813%           8,400,000.00        14,826.91
 B-3         81743VAJ2         SUB          2.71813%           4,725,000.00        10,702.64
 B-4         SMT0210B4         SUB          2.88767%           2,625,000.00         6,316.78
 B-5         SMT0210B5         SUB          2.88767%           2,100,000.00         5,053.42
 B-6         SMT0210B6         SUB          2.88767%           3,685,162.00         8,867.94
--------------------------------------------------------------------------------------------
Totals                                                     1,000,661,206.87     2,408,078.18
--------------------------------------------------------------------------------------------

<CAPTION>

----------------------------------------------------------------------------------------------
                                                   Ending
               Principal       Current           Certificate         Total        Cumulative
Class        Distribution   Realized Loss          Balance       Distribution    Realized Loss
----------------------------------------------------------------------------------------------
<S>          <C>            <C>                 <C>              <C>             <C>
 1A          9,120,056.37        0.00           772,129,603.20   10,238,630.10        0.00
2A-1           864,545.41        0.00           180,911,839.89    1,121,778.69        0.00
2A-2                 0.00        0.00             3,500,000.00        5,827.88        0.00
X-1A                 0.00        0.00                     0.00      324,589.84        0.00
X-1B                 0.00        0.00                     0.00      424,331.21        0.00
 X-2                 0.00        0.00                     0.00      195,379.69        0.00
 X-B                 0.00        0.00                     0.00       14,134.50        0.00
 A-R                 0.00        0.00                     0.00            0.00        0.00
 B-1                 0.00        0.00            12,600,000.00       22,240.36        0.00
 B-2                 0.00        0.00             8,400,000.00       14,826.91        0.00
 B-3                 0.00        0.00             4,725,000.00       10,702.64        0.00
 B-4                 0.00        0.00             2,625,000.00        6,316.78        0.00
 B-5                 0.00        0.00             2,100,000.00        5,053.42        0.00
 B-6                 0.00        0.00             3,685,162.00        8,867.94        0.00
------------------------------------------------------------------------------------------
Totals       9,984,601.78        0.00           990,676,605.09   12,392,679.96        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>
 1A         822,375,000.00     781,249,659.57      0.00       9,120,056.37       0.00          0.00
2A-1        190,000,000.00     181,776,385.30      0.00         864,545.40       0.00          0.00
2A-2          3,500,000.00       3,500,000.00      0.00               0.00       0.00          0.00
X-1A                  0.00               0.00      0.00               0.00       0.00          0.00
X-1B                  0.00               0.00      0.00               0.00       0.00          0.00
 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
 A-R                100.00               0.00      0.00               0.00       0.00          0.00
 B-1         12,600,000.00      12,600,000.00      0.00               0.00       0.00          0.00
 B-2          8,400,000.00       8,400,000.00      0.00               0.00       0.00          0.00
 B-3          4,725,000.00       4,725,000.00      0.00               0.00       0.00          0.00
 B-4          2,625,000.00       2,625,000.00      0.00               0.00       0.00          0.00
 B-5          2,100,000.00       2,100,000.00      0.00               0.00       0.00          0.00
 B-6          3,685,162.00       3,685,162.00      0.00               0.00       0.00          0.00
---------------------------------------------------------------------------------------------------
Totals    1,050,010,262.00   1,000,661,206.87      0.00       9,984,601.77       0.00          0.00
---------------------------------------------------------------------------------------------------

<CAPTION>

----------------------------------------------------------------------------------
             Total              Ending               Ending
           Principal         Certificate           Certificate     Total Principal
Class      Reduction           Balance             Percentage        Distribution
----------------------------------------------------------------------------------
<S>       <C>               <C>                    <C>             <C>
 1A       9,120,056.37      772,129,603.20          0.93890209       9,120,056.37
2A-1        864,545.41      180,911,839.89          0.95216758         864,545.41
2A-2              0.00        3,500,000.00          1.00000000               0.00
X-1A              0.00                0.00          0.00000000               0.00
X-1B              0.00                0.00          0.00000000               0.00
 X-2              0.00                0.00          0.00000000               0.00
 X-B              0.00                0.00          0.00000000               0.00
 A-R              0.00                0.00          0.00000000               0.00
 B-1              0.00       12,600,000.00          1.00000000               0.00
 B-2              0.00        8,400,000.00          1.00000000               0.00
 B-3              0.00        4,725,000.00          1.00000000               0.00
 B-4              0.00        2,625,000.00          1.00000000               0.00
 B-5              0.00        2,100,000.00          1.00000000               0.00
 B-6              0.00        3,685,162.00          1.00000000               0.00
---------------------------------------------------------------------------------
Totals    9,984,601.78      990,676,605.09          0.94349231       9,984,601.78
---------------------------------------------------------------------------------
</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>
 1A         822,375,000.00       949.99198610    0.00000000       11.08989983    0.00000000    0.00000000
2A-1        190,000,000.00       956.71781737    0.00000005        4.55023895    0.00000000    0.00000000
2A-2          3,500,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
X-1A                  0.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000
X-1B                  0.00         0.00000000    0.00000000        0.00000000    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
 A-R                100.00         0.00000000    0.00000000        0.00000000    0.00000000    0.00000000
 B-1         12,600,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
 B-2          8,400,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
 B-3          4,725,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
 B-4          2,625,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
 B-5          2,100,000.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
 B-6          3,685,162.00      1000.00000000    0.00000000        0.00000000    0.00000000    0.00000000
---------------------------------------------------------------------------------------------------------

<CAPTION>

--------------------------------------------------------------------------------------
                                   Ending               Ending
            Total Principal      Certificate          Certificate      Total Principal
Class          Reduction           Balance            Percentage        Distribution
--------------------------------------------------------------------------------------
<S>         <C>                 <C>                   <C>               <C>
 1A              11.08989983     938.90208627          0.93890209        11.08989983
2A-1              4.55023900     952.16757837          0.95216758         4.55023900
2A-2              0.00000000    1000.00000000          1.00000000         0.00000000
X-1A              0.00000000       0.00000000          0.00000000         0.00000000
X-1B              0.00000000       0.00000000          0.00000000         0.00000000
 X-2              0.00000000       0.00000000          0.00000000         0.00000000
 X-B              0.00000000       0.00000000          0.00000000         0.00000000
 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
------------------------------------------------------------------------------------
</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
                                 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>
  1A         822,375,000.00      1.71813%     781,249,659.57   1,118,573.73        0.00          0.00
 2A-1        190,000,000.00      1.69813%     181,776,385.30     257,233.28        0.00          0.00
 2A-2          3,500,000.00      1.99813%       3,500,000.00       5,827.88        0.00          0.00
 X-1A                  0.00      1.04444%     372,934,288.25     324,589.84        0.00          0.00
 X-1B                  0.00      1.24707%     408,315,371.32     424,331.21        0.00          0.00
  X-2                  0.00      1.26544%     185,276,385.30     195,379.69        0.00          0.00
  X-B                  0.00      0.65934%      25,725,000.00      14,134.50        0.00          0.00
  A-R                100.00      3.37693%               0.00           0.00        0.00          0.00
  B-1         12,600,000.00      2.11813%      12,600,000.00      22,240.36        0.00          0.00
  B-2          8,400,000.00      2.11813%       8,400,000.00      14,826.91        0.00          0.00
  B-3          4,725,000.00      2.71813%       4,725,000.00      10,702.64        0.00          0.00
  B-4          2,625,000.00      2.88767%       2,625,000.00       6,316.78        0.00          0.00
  B-5          2,100,000.00      2.88767%       2,100,000.00       5,053.42        0.00          0.00
  B-6          3,685,162.00      2.88767%       3,685,162.00       8,867.94        0.00          0.00
--------------------------------------------------------------------------------------------------------
Totals     1,050,010,262.00                                    2,408,078.18        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>
  1A         0.00         0.00      1,118,573.73        0.00      772,129,603.20
 2A-1        0.00         0.00        257,233.28        0.00      180,911,839.89
 2A-2        0.00         0.00          5,827.88        0.00        3,500,000.00
 X-1A        0.00         0.00        324,589.84        0.00      366,913,322.78
 X-1B        0.00         0.00        424,331.21        0.00      405,216,280.42
  X-2        0.00         0.00        195,379.69        0.00      184,411,839.89
  X-B        0.00         0.00         14,134.50        0.00       25,725,000.00
  A-R        0.00         0.00              0.00        0.00                0.00
  B-1        0.00         0.00         22,240.36        0.00       12,600,000.00
  B-2        0.00         0.00         14,826.91        0.00        8,400,000.00
  B-3        0.00         0.00         10,702.64        0.00        4,725,000.00
  B-4        0.00         0.00          6,316.78        0.00        2,625,000.00
  B-5        0.00         0.00          5,053.42        0.00        2,100,000.00
  B-6        0.00         0.00          8,867.94        0.00        3,685,162.00
--------------------------------------------------------------------------------
Totals       0.00         0.00      2,408,078.18        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.

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
                                                Beginning                       Payment of
                                Current       Certificate/         Current        Unpaid      Current
             Original Face    Certificate       Notional           Accrued       Interest     Interest
Class (5)       Amount           Rate            Balance          Interest      Shortfall    Shortfall
-------------------------------------------------------------------------------------------------------
<S>          <C>              <C>            <C>                 <C>            <C>          <C>
  1A         822,375,000.00    1.71813%       949.99198610       1.36017477     0.00000000   0.00000000
 2A-1        190,000,000.00    1.69813%       956.71781737       1.35385937     0.00000000   0.00000000
 2A-2          3,500,000.00    1.99813%      1000.00000000       1.66510857     0.00000000   0.00000000
 X-1A                  0.00    1.04444%       949.03928659       0.82601284     0.00000000   0.00000000
 X-1B                  0.00    1.24707%       950.86380575       0.98816067     0.00000000   0.00000000
  X-2                  0.00    1.26544%       957.50069922       1.00971416     0.00000000   0.00000000
  X-B                  0.00    0.65934%      1000.00000000       0.54944606     0.00000000   0.00000000
  A-R                100.00    3.37693%         0.00000000       0.00000000     0.00000000   0.00000000
  B-1         12,600,000.00    2.11813%      1000.00000000       1.76510794     0.00000000   0.00000000
  B-2          8,400,000.00    2.11813%      1000.00000000       1.76510833     0.00000000   0.00000000
  B-3          4,725,000.00    2.71813%      1000.00000000       2.26510899     0.00000000   0.00000000
  B-4          2,625,000.00    2.88767%      1000.00000000       2.40639238     0.00000000   0.00000000
  B-5          2,100,000.00    2.88767%      1000.00000000       2.40639048     0.00000000   0.00000000
  B-6          3,685,162.00    2.88767%      1000.00000000       2.40639082     0.00000000   0.00000000
-------------------------------------------------------------------------------------------------------

<CAPTION>

-----------------------------------------------------------------------------------------
                Non-                                       Remaining            Ending
             Supported                                       Unpaid          Certificate/
              Interest       Realized      Total Interest   Interest          Notational
Class (5)    Shortfall       Loss (6)       Distribution   Shortfall           Balance
-----------------------------------------------------------------------------------------
<S>          <C>            <C>            <C>             <C>               <C>
  1A         0.00000000     0.00000000        1.36017477   0.00000000         938.90208627
 2A-1        0.00000000     0.00000000        1.35385937   0.00000000         952.16757837
 2A-2        0.00000000     0.00000000        1.66510857   0.00000000        1000.00000000
 X-1A        0.00000000     0.00000000        0.82601284   0.00000000         933.71719647
 X-1B        0.00000000     0.00000000        0.98816067   0.00000000         943.64680249
  X-2        0.00000000     0.00000000        1.00971416   0.00000000         953.03276429
  X-B        0.00000000     0.00000000        0.54944606   0.00000000        1000.00000000
  A-R        0.00000000     0.00000000        0.00000000   0.00000000           0.00000000
  B-1        0.00000000     0.00000000        1.76510794   0.00000000        1000.00000000
  B-2        0.00000000     0.00000000        1.76510833   0.00000000        1000.00000000
  B-3        0.00000000     0.00000000        2.26510899   0.00000000        1000.00000000
  B-4        0.00000000     0.00000000        2.40639238   0.00000000        1000.00000000
  B-5        0.00000000     0.00000000        2.40639048   0.00000000        1000.00000000
  B-6        0.00000000     0.00000000        2.40639082   0.00000000        1000.00000000
------------------------------------------------------------------------------------------
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

<TABLE>
-------------------------------------------------------------------------------------
<S>                                                                     <C>
                               CERTIFICATE ACCOUNT
Beginning Balance                                                                0.00

Deposits
         Payments of Interest and Principal                             12,605,851.66
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                     181.47
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          12,606,033.13

Withdrawals
         Reimbursement for Servicer Advances                                 4,882.08
         Payment of Service Fee                                            208,471.09
         Payment of Interest and Principal                              12,392,679.96
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            12,606,033.13

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

<TABLE>
-------------------------------------------------------------------------------------
<S>                                                                     <C>
                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

Total Prepayment/Curtailment Interest Shortfall                                  0.00
Servicing Fee Support                                                            0.00
                                                                        -------------

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

<TABLE>
-------------------------------------------------------------------------------------
<S>                                                                     <C>
                                 SERVICING FEES

Gross Servicing Fee                                                        208,471.09
Supported Prepayment/Curtailment Interest Shortfall                              0.00
                                                                        -------------

Net Servicing Fee                                                          208,471.09
                                                                        =============
-------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------
                                               Beginning            Current            Current           Ending
           Account Type                         Balance           Withdrawals          Deposits          Balance
----------------------------------------------------------------------------------------------------------------
<S>                                            <C>                <C>                  <C>              <C>
Class X-A Basis Risk Reserve Fund               8,000.00              0.00               0.00           8,000.00
Class X-B Basis Risk Reserve Fund               2,000.00              0.00               0.00           2,000.00
----------------------------------------------------------------------------------------------------------------
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
                   DELINQUENT                                     BANKRUPTCY                        FORECLOSURE
-----------------------------------------------------------------------------------------------------------------------------
<S>           <C>         <C>                  <C>           <C>             <C>         <C>           <C>          <C>
              No. of      Principal Balance                  No. of          Principal                 No. of       Principal
               Loans                                          Loans           Balance                   Loans        Balance

0-29 Days        0                0.00         0-29 Days        0               0.00      0-29 Days       0            0.00
30 Days          1           75,745.89         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           75,745.89                          0               0.00                      0            0.00

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

0-29 Days    0.000000%         0.000000%       0-29 Days    0.000000%        0.000000%   0-29 Days   0.000000%      0.000000%
30 Days      0.037665%         0.007646%       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%
             --------------------------                     -------------------------                -----------------------
             0.037665%         0.007646%                    0.000000%        0.000000%               0.000000%      0.000000%
----------------------------------------------------------------------------------------------------------------------------

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

0-29 Days            0             0.00      0-29 Days              0                    0.00
30 Days              0             0.00      30 Days                1               75,745.89
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               75,745.89

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

0-29 Days        0.000000%       0.000000%     0-29 Days         0.000000%          0.000000%
30 Days          0.000000%       0.000000%     30 Days           0.037665%          0.007646%
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%                       0.037665%          0.007646%
--------------------------------------------------------------------------------------------
</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 181.47
</TABLE>

<PAGE>

      Subordinated Level/Credit Enhancement/Class Percentage and Prepayment
                                   Percentage

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
                Original $       Original %      Current $        Current %     Current Class %  Prepayment %
             ----------------   ------------   --------------   -------------   ---------------  -------------
<S>          <C>                <C>            <C>              <C>             <C>              <C>
  Class A    1,050,010,162.00   99.99999048%   990,676,605.09   100.00000000%      96.554359%        0.000000%
 Class 1A      227,635,162.00   21.67932736%   218,547,001.89    22.06037780%      77.939622%    2,261.977263%
Class 2-A-1     37,635,162.00    3.58426611%    37,635,162.00     3.79893517%      18.261443%      529.986762%
Class 2-A-2     34,135,162.00    3.25093604%    34,135,162.00     3.44564127%       0.353294%       10.253357%
 Class X-2      34,135,162.00    3.25093604%    34,135,162.00     3.44564127%       0.000000%        0.000000%
 Class B-1      21,535,162.00    2.05094776%    21,535,162.00     2.17378324%       1.271858%       36.912085%
 Class B-2      13,135,162.00    1.25095558%    13,135,162.00     1.32587788%       0.847905%       24.608057%
 Class B-3       8,410,162.00    0.80095998%     8,410,162.00     0.84893112%       0.476947%       13.842032%
 Class B-4       5,785,162.00    0.55096242%     5,785,162.00     0.58396070%       0.264970%        7.690018%
 Class B-5       3,685,162.00    0.35096438%     3,685,162.00     0.37198436%       0.211976%        6.152014%
 Class B-6               0.00    0.00000000%             0.00     0.00000000%       0.371984%       10.795795%
-------------------------------------------------------------------------------------------------------------
</TABLE>

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

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------
                         Original $                     Original %          Current $           Current %
<S>                    <C>                             <C>                <C>                   <C>
    Bankruptcy            163,046.00                   0.01552804%           163,046.00         0.01645804%
         Fraud         31,500,308.00                   3.00000001%        31,500,308.00         3.17967618%
Special Hazard         11,240,000.00                   1.07046573%        11,059,342.94         1.11634240%
----------------------------------------------------------------------------------------------------------
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     GROUP 1
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------
            DELINQUENT                          BANKRUPTCY                      FORECLOSURE
------------------------------------------------------------------------------------------------------
                No. of    Principal               No. of   Principal               No. of    Principal
                Loans      Balance                Loans     Balance                 Loans      Balance
<S>           <C>         <C>        <C>        <C>        <C>        <C>         <C>        <C>
0-29 Days         0            0.00  0-29 Days      0        0.00     0-29 Days       0         0.00
30 Days           1       75,745.89  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       75,745.89                 0        0.00                     0         0.00

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

0-29 Days     0.000000%   0.000000%  0-29 Days  0.000000%  0.000000%  0-29 Days   0.000000%  0.000000%
30 Days       0.047664%   0.009471%  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%
              --------------------              -------------------               -------------------
              0.047664%   0.009471%             0.000000%  0.000000%              0.000000%  0.000000%
-----------------------------------------------------------------------------------------------------

<CAPTION>
--------------------------------------------------------------------
              REO                                TOTAL
--------------------------------------------------------------------
            No. of    Principal                 No. of     Principal
            Loans      Balance                  Loans       Balance
<S>        <C>        <C>         <C>         <C>          <C>
0-29 Days     0         0.00      0-29 Days       0             0.00
30 Days       0.        0.00      30 Days         1        75,745.89
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        75,745.89

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

0-29 Days  0.000000%  0.000000%   0-29 Days   0.000000%    0.000000%
30 Days    0.000000%  0.000000%   30 Days     0.047664%    0.009471%
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%               0.047664%    0.009471%
-------------------------------------------------------------------
</TABLE>

                                     GROUP 2

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

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

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

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

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

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<S>                                                                   <C>
Collateral Description                                                       Mixed ARM
Weighted Average Gross Coupon                                                 3.137784%
Weighted Average Net Coupon                                                   2.887784%
Weighted Average Pass-Through Rate                                            2.887784%
Weighted Average Maturity (Stepdown Calculation)                                   290

Beginning Scheduled Collateral Loan Count                                        2,677
Number of Loans Paid in Full                                                        22
Ending Scheduled Collateral Loan Count                                           2,655

Beginning Scheduled Collateral Balance                                1,000,661,206.87
Ending Scheduled Collateral Balance                                     990,676,605.09
Ending Actual Collateral Balance at 30-May-03                           990,676,605.81

Monthly P&I Constant                                                      2,616,549.28
Special Servicing Fee                                                             0.00
Prepayment Penalties                                                              0.00
Realization Loss Amount                                                           0.00
Cumulative Realized Loss                                                          0.00

Class A Optimal Amount                                                   12,310,537.41

Ending Scheduled Balance for Premium Loans                              990,676,605.09

Scheduled Principal                                                               0.01
Unscheduled Principal                                                     9,984,601.77
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

             GROUP                                1                 2                     TOTAL
<S>                                        <C>                <C>                    <C>
Collateral Description                          Mixed ARM        6 Month ARM                Mixed ARM
Weighted Average Coupon Rate                     3.118473           3.219234                 3.137784
Weighted Average Net Rate                        2.868473           2.969234                 2.887784
Pass-Through Rate                                2.868473           2.969234                 2.887784
Weighted Average Maturity                             290                290                      290
Record Date                                    05/30/2003         05/30/2003               05/30/2003
Principal and Interest Constant              2,102,063.17         514,486.11             2,616,549.28
Beginning Loan Count                                2,115                562                    2,677
Loans Paid in Full                                     17                  5                       22
Ending Loan Count                                   2,098                557                    2,655
Beginning Scheduled Balance                808,881,656.57     191,779,550.30         1,000,661,206.87
Ending Scheduled Balance                   799,761,600.20     190,915,004.89           990,676,605.09
Scheduled Principal                                  0.00               0.01                     0.01
Unscheduled Principal                        9,120,056.37         864,545.40             9,984,601.77
Scheduled Interest                           2,102,063.17         514,486.10             2,616,549.27
Servicing Fee                                  168,517.01          39,954.08               208,471.09
Master Servicing Fee                                 0.00               0.00                     0.00
Trustee Fee                                          0.00               0.00                     0.00
FRY Amount                                           0.00               0.00                     0.00
Special Hazard Fee                                   0.00               0.00                     0.00
Other Fee                                            0.00               0.00                     0.00
Pool Insurance Fee                                   0.00               0.00                     0.00
Spread 1                                             0.00               0.00                     0.00
Spread 2                                             0.00               0.00                     0.00
Spread 3                                             0.00               0.00                     0.00
Net Interest                                 1,933,546.16          474,532.02            2,408,078.18
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>

<PAGE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                             <C>
Group 1

One Month LIBOR Loans                                           380,043,952.39
Six Month LIBOR Loans                                           419,717,647.81
Pro Rata Senior Percentage                                           96.583926%
Senior Percentage                                                   100.000000%
Senior Prepayment Percentage                                        100.000000%
Subordinate Percentage                                                0.000000%
Subordinate Prepayment Percentage                                     0.000000%

Group 2

Pro Rata Senior Percentage                                           96.609041%
Senior Percentage                                                   100.000000%
Senior Prepayment Percentage                                        100.000000%
Subordinate Percentage                                                0.000000%
Subordinate Prepayment Percentage                                     0.000000%
</TABLE>