<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 2003-5
                         RECORD DATE: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate                        Beginning
                      Class     Certificate Pass-    Certificate     Interest      Principal       Current      Ending Certificate
Class     CUSIP    Description     Through Rate        Balance     Distribution   Distribution  Realized Loss         Balance
----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>        <C>          <C>                <C>             <C>           <C>            <C>             <C>
 A-1    81743PCJ3      SEN          1.45875%       648,831,556.44    788,735.86   7,054,507.29      0.00          641,777,049.15
 A-2    81743PCK0      SEN          1.53125%       145,943,238.66    186,229.65   3,784,388.65      0.00          142,158,850.01
 X-1A   81743PCL8      IO           1.02688%                 0.00     75,849.88           0.00      0.00                    0.00
 X-1B   81743PCM6      IO           1.26229%                 0.00    589,282.36           0.00      0.00                    0.00
 X-2    81743PCN4      IO           1.17582%                 0.00    143,006.98           0.00      0.00                    0.00
 X-B    81743PCP9      IO           0.94343%                 0.00     11,831.40           0.00      0.00                    0.00
 A-R    81743PCQ7       R           2.70140%                 0.00          0.00           0.00      0.00                    0.00
 B-1    81743PCR5      SUB          1.74875%        15,043,000.00     21,922.04           0.00      0.00           15,043,000.00
 B-2    81743PCS3      SUB          2.69218%         6,447,000.00     14,463.73           0.00      0.00            6,447,000.00
 B-3    81743PCT1      SUB          2.69218%         6,017,000.00     13,499.03           0.00      0.00            6,017,000.00
 B-4    SEQ0305B4      SUB          2.69218%         2,149,000.00      4,821.24           0.00      0.00            2,149,000.00
 B-5    SEQ0305B5      SUB          2.69218%         1,289,000.00      2,891.85           0.00      0.00            1,289,000.00
 B-6    SEQ0305B6      SUB          2.69218%         3,439,209.40      7,715.80           0.00      0.00            3,439,209.40
--------------------------------------------------------------------------------------------------------------------------------
Totals                                             829,159,004.50  1,860,249.82  10,838,895.94      0.00          818,320,108.56
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                       Total             Cumulative
Class     CUSIP     Distribution        Realized Loss
-----------------------------------------------------
<S>     <C>        <C>                  <C>
 A-1    81743PCJ3   7,843,243.15            0.00
 A-2    81743PCK0   3,970,618.30            0.00
 X-1A   81743PCL8      75,849.88            0.00
 X-1B   81743PCM6     589,282.36            0.00
 X-2    81743PCN4     143,006.98            0.00
 X-B    81743PCP9      11,831.40            0.00
 A-R    81743PCQ7           0.00            0.00
 B-1    81743PCR5      21,922.04            0.00
 B-2    81743PCS3      14,463.73            0.00
 B-3    81743PCT1      13,499.03            0.00
 B-4    SEQ0305B4       4,821.24            0.00
 B-5    SEQ0305B5       2,891.85            0.00
 B-6    SEQ0305B6       7,715.80            0.00
------------------------------------------------
Totals             12,699,145.76            0.00
------------------------------------------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                          Beginning      Scheduled     Unscheduled
        Original Face    Certificate     Principal      Principal               Realized  Total Principal  Ending Certificate
Class       Amount         Balance      Distribution   Distribution  Accretion  Loss (1)     Reduction          Balance
-----------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>             <C>           <C>            <C>        <C>       <C>              <C>
 A-1    675,596,000.00  648,831,556.44     330.26      7,054,177.03     0.00      0.00      7,054,507.29     641,777,049.15
 A-2    149,609,000.00  145,943,238.66       6.10      3,784,382.55     0.00      0.00      3,784,388.65     142,158,850.01
 X-1A             0.00            0.00       0.00              0.00     0.00      0.00              0.00               0.00
 X-1B             0.00            0.00       0.00              0.00     0.00      0.00              0.00               0.00
 X-2              0.00            0.00       0.00              0.00     0.00      0.00              0.00               0.00
 X-B              0.00            0.00       0.00              0.00     0.00      0.00              0.00               0.00
 A-R            100.00            0.00       0.00              0.00     0.00      0.00              0.00               0.00
 B-1     15,043,000.00   15,043,000.00       0.00              0.00     0.00      0.00              0.00      15,043,000.00
 B-2      6,447,000.00    6,447,000.00       0.00              0.00     0.00      0.00              0.00       6,447,000.00
 B-3      6,017,000.00    6,017,000.00       0.00              0.00     0.00      0.00              0.00       6,017,000.00
 B-4      2,149,000.00    2,149,000.00       0.00              0.00     0.00      0.00              0.00       2,149,000.00
 B-5      1,289,000.00    1,289,000.00       0.00              0.00     0.00      0.00              0.00       1,289,000.00
 B-6      3,439,209.40    3,439,209.40       0.00              0.00     0.00      0.00              0.00       3,439,209.40
---------------------------------------------------------------------------------------------------------------------------
Totals  859,589,309.40  829,159,004.50     336.36     10,838,559.58     0.00      0.00     10,838,895.94     818,320,108.56
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

        Ending Certificate     Total Principal
Class       Percentage           Distribution
----------------------------------------------
<S>     <C>                    <C>
 A-1        0.94994205           7,054,507.29
 A-2        0.95020253           3,784,388.65
 X-1A       0.00000000                   0.00
 X-1B       0.00000000                   0.00
 X-2        0.00000000                   0.00
 X-B        0.00000000                   0.00
 A-R        0.00000000                   0.00
 B-1        1.00000000                   0.00
 B-2        1.00000000                   0.00
 B-3        1.00000000                   0.00
 B-4        1.00000000                   0.00
 B-5        1.00000000                   0.00
 B-6        1.00000000                   0.00
---------------------------------------------
Totals      0.95198963          10,838,895.94
---------------------------------------------
</TABLE>

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

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                          Beginning       Scheduled    Unscheduled
        Original Face    Certificate      Principal     Principal                 Realized   Total Principal  Ending Certificate
Class      Amount          Balance      Distribution  Distribution    Accretion   Loss (3)      Reduction          Balance
--------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>             <C>           <C>            <C>         <C>         <C>              <C>
 A-1    675,596,000.00   960.38395201    0.00048884    10.44141326   0.00000000  0.00000000    10.44190210       949.94204991
 A-2    149,609,000.00   975.49772179    0.00004077    25.29515303   0.00000000  0.00000000    25.29519381       950.20252799
 X-1A             0.00     0.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000         0.00000000
 X-1B             0.00     0.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000         0.00000000
 X-2              0.00     0.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000         0.00000000
 X-B              0.00     0.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000         0.00000000
 A-R            100.00     0.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000         0.00000000
 B-1     15,043,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
 B-2      6,447,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
 B-3      6,017,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
 B-4      2,149,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
 B-5      1,289,000.00  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
 B-6      3,439,209.40  1000.00000000    0.00000000     0.00000000   0.00000000  0.00000000     0.00000000      1000.00000000
</TABLE>

<TABLE>
<CAPTION>
        Ending Certificate      Total Principal
Class       Percentage            Distribution
-----------------------------------------------
<S>     <C>                     <C>
 A-1        0.94994205            10.44190210
 A-2        0.95020253            25.29519381
 X-1A       0.00000000             0.00000000
 X-1B       0.00000000             0.00000000
 X-2        0.00000000             0.00000000
 X-B        0.00000000             0.00000000
 A-R        0.00000000             0.00000000
 B-1        1.00000000             0.00000000
 B-2        1.00000000             0.00000000
 B-3        1.00000000             0.00000000
 B-4        1.00000000             0.00000000
 B-5        1.00000000             0.00000000
 B-6        1.00000000             0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                             Beginning                  Payment of                Non-
                                           Certificate/     Current       Unpaid     Current   Supported
        Original Face       Current          Notional       Accrued      Interest   Interest    Interest  Realized  Total Interest
Class       Amount      Certificate Rate      Balance       Interest    Shortfall   Shortfall  Shortfall  Loss (4)   Distribution
----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>               <C>             <C>           <C>         <C>        <C>        <C>       <C>
 A-1    675,596,000.00      1.45875%      648,831,556.44    788,735.86     0.00        0.00       0.00      0.00       788,735.86
 A-2    149,609,000.00      1.53125%      145,943,238.66    186,229.65     0.00        0.00       0.00      0.00       186,229.65
 X-1A             0.00      1.02688%       88,635,720.72     75,848.80     0.00        0.00       0.00      0.00        75,849.88
 X-1B             0.00      1.26229%      560,195,835.72    589,273.96     0.00        0.00       0.00      0.00       589,282.36
 X-2              0.00      1.17582%      145,943,238.66    143,002.24     0.00        0.00       0.00      0.00       143,006.98
 X-B              0.00      0.94343%       15,043,000.00     11,826.66     0.00        0.00       0.00      0.00        11,831.40
 A-R            100.00      2.70140%                0.00          0.00     0.00        0.00       0.00      0.00             0.00
 B-1     15,043,000.00      1.74875%       15,043,000.00     21,922.04     0.00        0.00       0.00      0.00        21,922.04
 B-2      6,447,000.00      2.69218%        6,447,000.00     14,463.73     0.00        0.00       0.00      0.00        14,463.73
 B-3      6,017,000.00      2.69218%        6,017,000.00     13,499.03     0.00        0.00       0.00      0.00        13,499.03
 B-4      2,149,000.00      2.69218%        2,149,000.00      4,821.24     0.00        0.00       0.00      0.00         4,821.24
 B-5      1,289,000.00      2.69218%        1,289,000.00      2,891.85     0.00        0.00       0.00      0.00         2,891.85
 B-6      3,439,209.40      2.69218%        3,439,209.40      7,715.80     0.00        0.00       0.00      0.00         7,715.80
      ---------------------------------------------------------------------------------------------------------------------------
Totals  859,589,309.40                                    1,860,230.86     0.00        0.00       0.00      0.00     1,860,249.82
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
        Remaining         Ending
         Unpaid        Certificate/
        Interest        Notational
Class   Shortfall        Balance
------------------------------------
<S>     <C>           <C>
 A-1      0.00        641,777,049.15
 A-2      0.00        142,158,850.01
 X-1A     0.00         88,539,867.69
 X-1B     0.00        553,237,181.46
 X-2      0.00        142,158,850.01
 X-B      0.00         15,043,000.00
 A-R      0.00                  0.00
 B-1      0.00         15,043,000.00
 B-2      0.00          6,447,000.00
 B-3      0.00          6,017,000.00
 B-4      0.00          2,149,000.00
 B-5      0.00          1,289,000.00
 B-6      0.00          3,439,209.40
      ------------------------------
Totals    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                 Non-
                             Current        Beginning                        Unpaid      Current    Supported
Class (5)  Original Face   Certificate    Certificate/    Current Accrued   Interest    Interest    Interest    Realized
               Amount          Rate     Notional Balance     Interest       Shortfall   Shortfall   Shortfall   Loss (6)
-------------------------------------------------------------------------------------------------------------------------
<S>        <C>             <C>          <C>               <C>              <C>         <C>         <C>         <C>
   A-1     675,596,000.00    1.45875%      960.38395201      1.16746674    0.00000000  0.00000000  0.00000000  0.00000000
   A-2     149,609,000.00    1.53125%      975.49772179      1.24477572    0.00000000  0.00000000  0.00000000  0.00000000
   X-1A              0.00    1.02688%      985.85898375      0.84363528    0.00000000  0.00000000  0.00000000  0.00000000
   X-1B              0.00    1.26229%      956.47336708      1.00612110    0.00000000  0.00000000  0.00000000  0.00000000
   X-2               0.00    1.17582%      975.49772179      0.95583982    0.00000000  0.00000000  0.00000000  0.00000000
   X-B               0.00    0.94343%     1000.00000000      0.78619025    0.00000000  0.00000000  0.00000000  0.00000000
   A-R             100.00    2.70140%        0.00000000      0.00000000    0.00000000  0.00000000  0.00000000  0.00000000
   B-1      15,043,000.00    1.74875%     1000.00000000      1.45729176    0.00000000  0.00000000  0.00000000  0.00000000
   B-2       6,447,000.00    2.69218%     1000.00000000      2.24348224    0.00000000  0.00000000  0.00000000  0.00000000
   B-3       6,017,000.00    2.69218%     1000.00000000      2.24348180    0.00000000  0.00000000  0.00000000  0.00000000
   B-4       2,149,000.00    2.69218%     1000.00000000      2.24348069    0.00000000  0.00000000  0.00000000  0.00000000
   B-5       1,289,000.00    2.69218%     1000.00000000      2.24348332    0.00000000  0.00000000  0.00000000  0.00000000
   B-6       3,439,209.40    2.69218%     1000.00000000      2.24348073    0.00000000  0.00000000  0.00000000  0.00000000
</TABLE>

<TABLE>
<CAPTION>
                              Remaining
                               Unpaid
Class (5)  Total Interest     Interest       Ending Certificate/
            Distribution      Shortfall      Notational Balance
----------------------------------------------------------------
<S>        <C>               <C>             <C>
   A-1       1.16746674      0.00000000          949.94204991
   A-2       1.24477572      0.00000000          950.20252799
   X-1A      0.84364729      0.00000000          984.79284958
   X-1B      1.00613544      0.00000000          944.59222295
   X-2       0.95587151      0.00000000          950.20252799
   X-B       0.78650535      0.00000000         1000.00000000
   A-R       0.00000000      0.00000000            0.00000000
   B-1       1.45729176      0.00000000         1000.00000000
   B-2       2.24348224      0.00000000         1000.00000000
   B-3       2.24348180      0.00000000         1000.00000000
   B-4       2.24348069      0.00000000         1000.00000000
   B-5       2.24348332      0.00000000         1000.00000000
   B-6       2.24348073      0.00000000         1000.00000000
</TABLE>

(5) Per $1 denomination

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

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
           Payments of Interest and Principal                                    12,972,220.36
           Liquidations, Insurance Proceeds, Reserve Funds                               18.97
           Proceeds from Repurchased Loans                                                0.00
           Other Amounts (Servicer Advances)                                         17,740.45
           Realized Losses (Gains, Subsequent Expenses & Recoveries)                      0.00
           Prepayment Penalties                                                           0.00
                                                                                 -------------
Total Deposits                                                                   12,989,979.78

Withdrawals
           Reimbursement for Servicer Advances                                       26,381.73
           Payment of Service Fee                                                   264,452.29
           Payment of Interest and Principal                                     12,699,145.76
                                                                                 -------------
Total Withdrawals (Pool Distribution Amount)                                     12,989,979.78

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

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

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

                                 SERVICING FEES

<TABLE>
<S>                                                                  <C>
Gross Servicing Fee                                                  259,270.07
Master Servicing Fee                                                   5,182.22
Supported Prepayment/Curtailment Interest Shortfall                        0.00
                                                                     ----------

Net Servicing Fee                                                    264,452.29
                                                                     ==========
</TABLE>

<PAGE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                           Beginning       Current       Current      Ending
      Account Type          Balance      Withdrawals     Deposits     Balance
----------------------     ---------     -----------     --------    --------
<S>                        <C>           <C>             <C>         <C>
Class X-1 Reserve Fund     5,000.00          9.49          9.49      5,000.00
Class X-2 Reserve Fund     2,500.00          4.74          4.74      2,500.00
Class X-B Reserve Fund     2,500.00          4.74          4.74      2,500.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
                 DELINQUENT                                   BANKRUPTCY                                 FORECLOSURE
--------------------------------------------   ---------------------------------------    ---------------------------------------
                    No. of       Principal                       No. of      Principal                     No. of       Principal
                    Loans         Balance                        Loans        Balance                      Loans         Balance
<S>               <C>           <C>            <C>             <C>           <C>          <C>            <C>            <C>
0-29 Days             0                 0.00   0-29 Days           0           0.00       0-29 Days          0            0.00
30 Days              21         6,941,073.17   30 Days             0           0.00       30 Days            0            0.00
60 Days               1           400,000.00   60 Days             0           0.00       60 Days            0            0.00
90 Days               1           255,000.00   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
                  --------------------------                   --------------------                      ---------------------
                     23         7,596,073.17                       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           0.945520%      0.848209%     30 Days         0.000000%     0.000000%    30 Days        0.000000%      0.000000%
60 Days           0.045025%      0.048881%     60 Days         0.000000%     0.000000%    60 Days        0.000000%      0.000000%
90 Days           0.045025%      0.031161%     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%
                  -----------------------                      ----------------------                    -----------------------
                  1.035570%      0.928251%                     0.000000%     0.000000%                   0.000000%      0.000000%
</TABLE>

<TABLE>
<CAPTION>
                  REO                                        TOTAL
--------------------------------------    -----------------------------------------
                 No. of      Principal                     No. of        Principal
                 Loans        Balance                      Loans          Balance
<S>            <C>           <C>          <C>            <C>           <C>
0-29 Days          0            0.00      0-29 Days          0                 0.00
30 Days            0            0.00      30 Days           21         6,941,073.17
60 Days            0            0.00      60 Days            1           400,000.00
90 Days            0            0.00      90 Days            1           255,000.00
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                        23         7,596,073.17

                 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        0.945520%       0.848209%
60 Days        0.000000%     0.000000%    60 Days        0.045025%       0.048881%
90 Days        0.000000%     0.000000%    90 Days        0.045025%       0.031161%
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%                   1.035570%       0.928251%
</TABLE>

<TABLE>
<S>                                        <C>   <C>                                           <C>                     <C>
Current Period Class A Insufficient Funds  0.00  Principal Balance of Contaminated Properties  0.00  Periodic Advance  17,740.45
</TABLE>

<PAGE>

     SUBORDINATION 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        34,384,209.40     4.00007411%       34,384,209.40     4.20180429%        95.798196%          0.000000%
Class X-1-A    34,384,209.40     4.00007411%       34,384,209.40     4.20180429%         0.000000%          0.000000%
Class X-1-B    34,384,209.40     4.00007411%       34,384,209.40     4.20180429%         0.000000%          0.000000%
Class X-2      34,384,209.40     4.00007411%       34,384,209.40     4.20180429%         0.000000%          0.000000%
Class B-1      19,341,209.40     2.25005234%       19,341,209.40     2.36352611%         1.838278%         43.749734%
Class B-2      12,894,209.40     1.50004302%       12,894,209.40     1.57569260%         0.787834%         18.749886%
Class B-3       6,877,209.40     0.80005758%        6,877,209.40     0.84040577%         0.735287%         17.499312%
Class B-4       4,728,209.40     0.55005447%        4,728,209.40     0.57779460%         0.262611%          6.249962%
Class B-5       3,439,209.40     0.40009914%        3,439,209.40     0.42027678%         0.157518%          3.748814%
Class B-6               0.00     0.00000000%                0.00     0.00000000%         0.420277%         10.002293%
</TABLE>

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

                           DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
                 DELINQUENT                                   BANKRUPTCY                                 FORECLOSURE
--------------------------------------------   ---------------------------------------    ---------------------------------------
ONE-MONTH LIBOR - GROUP 1
                    No. of       Principal                       No. of      Principal                     No. of       Principal
                    Loans         Balance                        Loans        Balance                      Loans         Balance
<S>               <C>            <C>           <C>             <C>           <C>          <C>            <C>            <C>
0-29 Days             0             0.00       0-29 Days           0           0.00       0-29 Days          0            0.00
30 Days               0             0.00       30 Days             0           0.00       30 Days            0            0.00
60 Days               0             0.00       60 Days             0           0.00       60 Days            0            0.00
90 Days               0             0.00       90 Days             0           0.00       90 Days            0            0.00
120 Days              0             0.00       120 Days            0           0.00       120 Days           0            0.00
150 Days              0             0.00       150 Days            0           0.00       150 Days           0            0.00
180+ Days             0             0.00       180+ Days           0           0.00       180+ Days          0            0.00
                  ----------------------                       --------------------                      ---------------------
                      0             0.00                           0           0.00                          0            0.00

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

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

<TABLE>
<CAPTION>
                  REO                                        TOTAL
--------------------------------------    -----------------------------------------
ONE-MONTH LIBOR - GROUP 1
                 No. of      Principal                     No. of        Principal
                 Loans        Balance                      Loans          Balance
<S>            <C>           <C>          <C>            <C>             <C>
0-29 Days          0            0.00      0-29 Days          0              0.00
30 Days            0            0.00      30 Days            0              0.00
60 Days            0            0.00      60 Days            0              0.00
90 Days            0            0.00      90 Days            0              0.00
120 Days           0            0.00      120 Days           0              0.00
150 Days           0            0.00      150 Days           0              0.00
180+ Days          0            0.00      180+ Days          0              0.00
               ---------------------                     -----------------------
                   0            0.00                         0              0.00

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

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

<PAGE>

<TABLE>
<CAPTION>
                 DELINQUENT                                   BANKRUPTCY                                 FORECLOSURE
--------------------------------------------   ---------------------------------------    ---------------------------------------
SIX-MONTH LIBOR - GROUP 1
                    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              16        5,488,933.17    30 Days             0            0.00      30 Days            0             0.00
60 Days               1          400,000.00    60 Days             0            0.00      60 Days            0             0.00
90 Days               1          255,000.00    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
                  -------------------------                    ---------------------                     ----------------------
                      18       6,143,933.17                        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           0.982198%      0.950458%     30 Days         0.000000%     0.000000%    30 Days        0.000000%      0.000000%
60 Days           0.061387%      0.069264%     60 Days         0.000000%     0.000000%    60 Days        0.000000%      0.000000%
90 Days           0.061387%      0.044156%     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%
                  -----------------------                      ----------------------                    -----------------------
                  1.104972%      1.063877%                     0.000000%     0.000000%                   0.000000%      0.000000%
</TABLE>

<TABLE>
<CAPTION>
                  REO                                        TOTAL
--------------------------------------    ------------------------------------------
SIX-MONTH LIBOR - GROUP 1
                 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           16          5,488,933.17
60 Days            0            0.00      60 Days            1            400,000.00
90 Days            0            0.00      90 Days            1            255,000.00
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                        18          6,143,933.17

                 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        0.982198%       0.950458%
60 Days        0.000000%     0.000000%    60 Days        0.061387%       0.069264%
90 Days        0.000000%     0.000000%    90 Days        0.061387%       0.044156%
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%                   1.104972%       1.063877%
</TABLE>

<TABLE>
<CAPTION>
                 DELINQUENT                                   BANKRUPTCY                                 FORECLOSURE
--------------------------------------------   ---------------------------------------    ---------------------------------------
SIX-MONTH LIBOR - GROUP 2
                    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               5        1,452,140.00    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
                  -------------------------                    ---------------------                     ----------------------
                      5        1,452,140.00                        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           1.275510%      0.978574%     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%
                  -----------------------                      ----------------------                    -----------------------
                  1.275510%      0.978574%                     0.000000%     0.000000%                   0.000000%      0.000000%
</TABLE>

<TABLE>
<CAPTION>
                  REO                                        TOTAL
--------------------------------------    ------------------------------------------
SIX-MONTH LIBOR - GROUP 2
                 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            5          1,452,140.00
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                         5          1,452,140.00

                 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        1.275510%       0.978574%
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%                   1.275510%       0.978574%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
            Collateral Description                                     Mixed Arm
<S>                                                                 <C>
Weighted Average Gross Coupon                                             3.074947%
Weighted Average Net Coupon                                               2.699718%
Weighted Average Pass-Through Rate                                        2.692218%
Weighted Average Maturity (Stepdown Calculation)                               332

Beginning Scheduled Collateral Loan Count                                    2,240
Number of Loans Paid in Full                                                    19
Ending Scheduled Collateral Loan Count                                       2,221

Beginning Scheduled Collateral Balance                              829,159,004.50
Ending Scheduled Collateral Balance                                 818,320,108.56
Ending Actual Collateral Balance at 31-Dec-2003                     818,321,173.13

Monthly P&I Constant                                                  2,125,019.54
Special Servicing Fee                                                         0.00
Prepayment Penalties                                                          0.00
Realized Loss Amount                                                          0.00
Cumulative Realized Loss                                                      0.00

Class A Optimal Amount                                               12,621,986.46

Ending Scheduled Balance for Premium Loans                          818,320,108.56

Scheduled Principal                                                         336.36
Unscheduled Principal                                                10,838,559.58
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                                                               <C>
Pro Rata Senior Percent - Group 1                                  95.841893%
Pro Rata Senior Percent - Group 2                                  95.903077%

Senior Percent - Group 1                                          100.000000%
Senior Percent - Group 2                                          100.000000%

Senior Prepayment Percent - Group 1                               100.000000%
Senior Prepayment Percent - Group 2                               100.000000%

Subordinate Percent - Group 1                                       0.000000%
Subordinate Percent - Group 2                                       0.000000%

Subordinate Prepayment Percent - Group 1                            0.000000%
Subordinate Prepayment Percent - Group 2                            0.000000%

Principal Transfer Amount - Group 1                                     0.00
Principal Transfer Amount - Group 2                                     0.00

Interest Transfer Amount - Group 1                                      0.00
Interest Transfer Amount - Group 2                                      0.00
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
            GROUP                  1 MO. LIBOR - GR 1   6 MO LIBOR - GR 1   6 MO LIBOR - GR 2         TOTAL
Collateral Description             1 Month LIBOR ARM    6 Month LIBOR ARM   6 Month LIBOR ARM        Mixed ARM
<S>                                <C>                  <C>                 <C>                   <C>
Weighted Average Coupon Rate                2.868134             3.103823           3.089720            3.074947
Weighted Average Net Rate                   2.493134             2.728538           2.714568            2.699718
Pass-Through Rate                           2.485634             2.721038           2.707068            2.692218
Weighted Average Maturity                        317                  335                332                 332
Record Date                               12/31/2003           12/31/2003         12/31/2003          12/31/2003
Principal and Interest Constant           221,051.43         1,512,139.56         391,828.55        2,125,019.54
Beginning Loan Count                             200                1,643                397               2,240
Loans Paid in Full                                 0                   14                  5                  19
Ending Loan Count                                200                1,629                392               2,221
Beginning Scheduled Balance            92,481,187.39       584,499,969.54     152,177,847.57      829,159,004.50
Ending Scheduled Balance               92,423,399.99       577,503,249.65     148,393,458.92      818,320,108.56
Scheduled Principal                            11.10               319.16               6.10              336.36
Unscheduled Principal                      57,776.30         6,996,400.73       3,784,382.55       10,838,559.58
Scheduled Interest                        221,040.33         1,511,820.40         391,822.45        2,124,683.18
Servicing Fee                              28,900.37           182,794.85          47,574.85          259,270.07
Master Servicing Fee                          578.00             3,653.11             951.11            5,182.22
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                                       0.00                 0.00               0.00                0.00
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                              191,561.96         1,325,372.44         343,296.49        1,860,230.89
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>