<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: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                        Certificate    Certificate
                          Class        Pass-Through         Beginning            Interest       Principal
Class        CUSIP      Description        Rate         Certificate Balance    Distribution    Distribution
------------------------------------------------------------------------------------------------------------
<S>        <C>          <C>            <C>              <C>                   <C>             <C>
  1A       81743VAA1        SEN          1.54875%         721,508,154.86        931,196.46     9,307,186.88
 2A-1      81743VAB9        SEN          1.52875%         166,991,223.93        212,739.86     2,170,706.77
 2A-2      81743VAN3        SEN          1.82875%           3,500,000.00          5,333.85             0.00
 X-1A      81743VAC7         IO          1.08544%                   0.00        307,582.89             0.00
 X-1B      81743VAD5         IO          1.16581%                   0.00        370,613.61             0.00
  X-2      81743VAP8         IO          1.18156%                   0.00        167,875.70             0.00
  X-B      81743VAE3         IO          0.62531%                   0.00         13,411.07             0.00
  A-R      81743VAF0        SEN          3.37730%                   0.00              0.00             0.00
  B-1      81743VAG8        SUB          1.94875%          12,600,000.00         20,461.88             0.00
  B-2      81743VAH6        SUB          1.94875%           8,400,000.00         13,641.25             0.00
  B-3      81743VAJ2        SUB          2.54875%           4,725,000.00         10,035.70             0.00
  B-4      SMT0210B4        SUB          2.68426%           2,625,000.00          5,871.82             0.00
  B-5      SMT0210B5        SUB          2.68426%           2,100,000.00          4,697.46             0.00
  B-6      SMT0210B6        SUB          2.68426%           3,685,162.00          8,243.28             0.00
------------------------------------------------------------------------------------------------------------
Totals                                                    926,134,540.79      2,071,704.83    11,477,893.65
------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                            Current      Ending Certificate         Total           Cumulative
Class        CUSIP      Realized Loss          Balance           Distribution      Realized Loss
-------------------------------------------------------------------------------------------------
<S>        <C>          <C>              <C>                     <C>               <C>
  1A       81743VAA1          0.00           712,200,967.98      10,238,383.34         0.00
 2A-1      81743VAB9          0.00           164,820,517.16       2,383,446.63         0.00
 2A-2      81743VAN3          0.00             3,500,000.00           5,333.85         0.00
 X-1A      81743VAC7          0.00                     0.00         307,582.89         0.00
 X-1B      81743VAD5          0.00                     0.00         370,613.61         0.00
  X-2      81743VAP8          0.00                     0.00         167,875.70         0.00
  X-B      81743VAE3          0.00                     0.00          13,411.07         0.00
  A-R      81743VAF0          0.00                     0.00               0.00         0.00
  B-1      81743VAG8          0.00            12,600,000.00          20,461.88         0.00
  B-2      81743VAH6          0.00             8,400,000.00          13,641.25         0.00
  B-3      81743VAJ2          0.00             4,725,000.00          10,035.70         0.00
  B-4      SMT0210B4          0.00             2,625,000.00           5,871.82         0.00
  B-5      SMT0210B5          0.00             2,100,000.00           4,697.46         0.00
  B-6      SMT0210B6          0.00             3,685,162.00           8,243.28         0.00
-------------------------------------------------------------------------------------------------
Totals                        0.00           914,656,647.14      13,549,598.48         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
Class          Amount           Balance        Distribution    Distribution    Accretion
----------------------------------------------------------------------------------------
<S>       <C>                <C>               <C>            <C>             <C>
  1A      822,375,000.00     721,508,154.86        0.00        9,307,186.88      0.00
 2A-1     190,000,000.00     166,991,223.93        0.00        2,170,706.77      0.00
 2A-2       3,500,000.00       3,500,000.00        0.00                0.00      0.00
 X-1A               0.00               0.00        0.00                0.00      0.00
 X-1B               0.00               0.00        0.00                0.00      0.00
  X-2               0.00               0.00        0.00                0.00      0.00
  X-B               0.00               0.00        0.00                0.00      0.00
  A-R             100.00               0.00        0.00                0.00      0.00
  B-1      12,600,000.00      12,600,000.00        0.00                0.00      0.00
  B-2       8,400,000.00       8,400,000.00        0.00                0.00      0.00
  B-3       4,725,000.00       4,725,000.00        0.00                0.00      0.00
  B-4       2,625,000.00       2,625,000.00        0.00                0.00      0.00
  B-5       2,100,000.00       2,100,000.00        0.00                0.00      0.00
  B-6       3,685,162.00       3,685,162.00        0.00                0.00      0.00
----------------------------------------------------------------------------------------
Totals  1,050,010,262.00     926,134,540.79        0.00       11,477,893.65      0.00
----------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
            Realized    Total Principal   Ending Certificate    Ending Certificate    Total Principal
Class       Loss (1)       Reduction          Balance              Percentage          Distribution
-----------------------------------------------------------------------------------------------------
<S>         <C>         <C>               <C>                   <C>                   <C>
  1A           0.00       9,307,186.88      712,200,967.98          0.86602945         9,307,186.88
 2A-1          0.00       2,170,706.77      164,820,517.16          0.86747641         2,170,706.77
 2A-2          0.00               0.00        3,500,000.00          1.00000000                 0.00
 X-1A          0.00               0.00                0.00          0.00000000                 0.00
 X-1B          0.00               0.00                0.00          0.00000000                 0.00
  X-2          0.00               0.00                0.00          0.00000000                 0.00
  X-B          0.00               0.00                0.00          0.00000000                 0.00
  A-R          0.00               0.00                0.00          0.00000000                 0.00
  B-1          0.00               0.00       12,600,000.00          1.00000000                 0.00
  B-2          0.00               0.00        8,400,000.00          1.00000000                 0.00
  B-3          0.00               0.00        4,725,000.00          1.00000000                 0.00
  B-4          0.00               0.00        2,625,000.00          1.00000000                 0.00
  B-5          0.00               0.00        2,100,000.00          1.00000000                 0.00
  B-6          0.00               0.00        3,685,162.00          1.00000000                 0.00
----------------------------------------------------------------------------------------------------
Totals         0.00      11,477,893.65      914,656,647.14          0.87109306        11,477,893.65
----------------------------------------------------------------------------------------------------
</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>
                                                     Scheduled       Unscheduled
            Original Face         Beginning          Principal        Principal                      Realized
Class           Amount       Certificate Balance    Distribution     Distribution     Accretion      Loss (3)
---------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>                    <C>             <C>               <C>           <C>
  1A        822,375,000.00       877.34689753       0.00000000      11.31744871       0.00000000    0.00000000
 2A-1       190,000,000.00       878.90117858       0.00000000      11.42477247       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
</TABLE>

<TABLE>
<CAPTION>
                                   Ending
            Total Principal     Certificate      Ending Certificate     Total Principal
Class          Reduction           Balance           Percentage           Distribution
---------------------------------------------------------------------------------------
<S>         <C>                 <C>              <C>                    <C>
  1A         11.31744871         866.02944883      0.86602945            11.31744871
 2A-1        11.42477247         867.47640611      0.86747641            11.42477247
 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
                                                  Certificate/       Current           Unpaid        Current
            Original Face        Current           Notional          Accrued          Interest       Interest
Class          Amount       Certificate Rate        Balance          Interest        Shortfall      Shortfall
-------------------------------------------------------------------------------------------------------------
<S>       <C>               <C>                  <C>               <C>               <C>            <C>
  1A        822,375,000.00      1.54875%         721,508,154.86      931,196.46         0.00           0.00
 2A-1       190,000,000.00      1.52875%         166,991,223.93      212,739.86         0.00           0.00
 2A-2         3,500,000.00      1.82875%           3,500,000.00        5,333.85         0.00           0.00
 X-1A                 0.00      1.08544%         340,037,134.52      307,574.11         0.00           0.00
 X-1B                 0.00      1.16581%         381,471,020.33      370,603.02         0.00           0.00
  X-2                 0.00      1.18156%         170,491,223.93      167,870.90         0.00           0.00
  X-B                 0.00      0.62531%          25,725,000.00       13,405.03         0.00           0.00
  A-R               100.00      3.37730%                   0.00            0.00         0.00           0.00
  B-1        12,600,000.00      1.94875%          12,600,000.00       20,461.88         0.00           0.00
  B-2         8,400,000.00      1.94875%           8,400,000.00       13,641.25         0.00           0.00
  B-3         4,725,000.00      2.54875%           4,725,000.00       10,035.70         0.00           0.00
  B-4         2,625,000.00      2.68426%           2,625,000.00        5,871.82         0.00           0.00
  B-5         2,100,000.00      2.68426%           2,100,000.00        4,697.46         0.00           0.00
  B-6         3,685,162.00      2.68426%           3,685,162.00        8,243.28         0.00           0.00
-------------------------------------------------------------------------------------------------------------
Totals    1,050,010,262.00                                         2,071,674.62         0.00           0.00
-------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                 Non-                                       Remaining       Ending
               Supported                                      Unpaid      Certificate/
               Interest     Realized  Total Interest         Interest      Notational
Class          Shortfall    Loss (4)   Distribution         Shortfall       Balance
---------------------------------------------------------------------------------------
<S>            <C>          <C>       <C>                   <C>          <C>
  1A             0.00         0.00       931,196.46            0.00      712,200,967.98
 2A-1            0.00         0.00       212,739.86            0.00      164,820,517.16
 2A-2            0.00         0.00         5,333.85            0.00        3,500,000.00
 X-1A            0.00         0.00       307,582.89            0.00      334,839,424.70
 X-1B            0.00         0.00       370,613.61            0.00      377,361,543.28
  X-2            0.00         0.00       167,875.70            0.00      168,320,517.16
  X-B            0.00         0.00        13,411.07            0.00       25,725,000.00
  A-R            0.00         0.00             0.00            0.00                0.00
  B-1            0.00         0.00        20,461.88            0.00       12,600,000.00
  B-2            0.00         0.00        13,641.25            0.00        8,400,000.00
  B-3            0.00         0.00        10,035.70            0.00        4,725,000.00
  B-4            0.00         0.00         5,871.82            0.00        2,625,000.00
  B-5            0.00         0.00         4,697.46            0.00        2,100,000.00
  B-6            0.00         0.00         8,243.28            0.00        3,685,162.00
---------------------------------------------------------------------------------------
Totals           0.00         0.00     2,071,704.83            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                    Non-
                                 Current     Certificate/    Current       Unpaid       Current      Supported
             Original Face     Certificate     Notional      Accrued      Interest     Interest      Interest
Class (5)        Amount            Rate        Balance       Interest     Shortfall    Shortfall     Shortfall
--------------------------------------------------------------------------------------------------------------
<S>          <C>               <C>          <C>             <C>          <C>          <C>           <C>
   1A        822,375,000.00      1.54875%    877.34689753   1.13232584   0.00000000   0.00000000    0.00000000
  2A-1       190,000,000.00      1.52875%    878.90117858   1.11968347   0.00000000   0.00000000    0.00000000
  2A-2         3,500,000.00      1.82875%   1000.00000000   1.52395714   0.00000000   0.00000000    0.00000000
  X-1A                 0.00      1.08544%    865.32295293   0.78271139   0.00000000   0.00000000    0.00000000
  X-1B                 0.00      1.16581%    888.35006383   0.86304122   0.00000000   0.00000000    0.00000000
   X-2                 0.00      1.18156%    881.09159654   0.86754987   0.00000000   0.00000000    0.00000000
   X-B                 0.00      0.62531%   1000.00000000   0.52108960   0.00000000   0.00000000    0.00000000
   A-R               100.00      3.37730%      0.00000000   0.00000000   0.00000000   0.00000000    0.00000000
   B-1        12,600,000.00      1.94875%   1000.00000000   1.62395873   0.00000000   0.00000000    0.00000000
   B-2         8,400,000.00      1.94875%   1000.00000000   1.62395833   0.00000000   0.00000000    0.00000000
   B-3         4,725,000.00      2.54875%   1000.00000000   2.12395767   0.00000000   0.00000000    0.00000000
   B-4         2,625,000.00      2.68426%   1000.00000000   2.23688381   0.00000000   0.00000000    0.00000000
   B-5         2,100,000.00      2.68426%   1000.00000000   2.23688571   0.00000000   0.00000000    0.00000000
   B-6         3,685,162.00      2.68426%   1000.00000000   2.23688402   0.00000000   0.00000000    0.00000000
</TABLE>

<TABLE>
<CAPTION>
                                           Remaining
                                             Unpaid
              Realized    Total Interest    Interest    Ending Certificate/
Class (5)     Loss (6)     Distribution     Shortfall   Notational Balance
---------------------------------------------------------------------------
<S>          <C>          <C>              <C>          <C>
   1A        0.00000000     1.13232584     0.00000000       866.02944883
  2A-1       0.00000000     1.11968347     0.00000000       867.47640611
  2A-2       0.00000000     1.52395714     0.00000000      1000.00000000
  X-1A       0.00000000     0.78273373     0.00000000       852.09587520
  X-1B       0.00000000     0.86306589     0.00000000       878.78012534
   X-2       0.00000000     0.86757468     0.00000000       869.87347370
   X-B       0.00000000     0.52132439     0.00000000      1000.00000000
   A-R       0.00000000     0.00000000     0.00000000         0.00000000
   B-1       0.00000000     1.62395873     0.00000000      1000.00000000
   B-2       0.00000000     1.62395833     0.00000000      1000.00000000
   B-3       0.00000000     2.12395767     0.00000000      1000.00000000
   B-4       0.00000000     2.23688381     0.00000000      1000.00000000
   B-5       0.00000000     2.23688571     0.00000000      1000.00000000
   B-6       0.00000000     2.23688402     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                             13,744,575.46
         Liquidations, Insurance Proceeds, Reserve Funds                        30.21
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                   1,022.65
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          13,745,628.32

Withdrawals
         Reimbursement for Servicer Advances                                 3,085.15
         Payment of Service Fee                                            192,944.69
         Payment of Interest and Principal                              13,549,598.48
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            13,745,628.32

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                                                       192,944.69
Supported Prepayment/Curtailment Interest Shortfall                             0.00
                                                                          ----------
Net Servicing Fee                                                         192,944.69
                                                                          ==========
</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         24.17          24,17        8,000.00
Class X-B Basis Risk Reserve Fund       2,000.00          6.04           6.04        2,000.00
</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             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              2            490,871.08
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                          2            490,871.08

              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       0.081800%             0.053667%
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%                  0.081800%             0.053667%
</TABLE>

<TABLE>
<CAPTION>
                 REO                                              TOTAL
----------------------------------------------------------------------------------------
              No. of          Principal                         No. of         Principal
              Loans            Balance                          Loans           Balance
----------------------------------------------------------------------------------------
<S>          <C>              <C>                <C>           <C>            <C>
0-29 Days           0             0.00           0-29 Days            0             0.00
30 Days             0             0.00           30 Days              0             0.00
60 Days             0             0.00           60 Days              0             0.00
90 Days             0             0.00           90 Days              2       490,871.08
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                                2       490,871.08

              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       0.081800%        0.053667%
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%                        0.081800%        0.053667%
</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  1,022.65
</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%   914,656,647.14   100.00000000%       96.267981%        0.000000%
  Class 1A       227,635,162.00   21.67932736%   202,455,679.16    22.13460972%       77.865390%    2,086.414495%
Class 2-A-1       37,635,162.00    3.58426611%    37,635,162.00     4.11467649%       18.019933%      482.846741%
Class 2-A-2       34,135,162.00    3.25093604%    34,135,162.00     3.73201923%        0.382657%       10.253357%
Class X-1-A       34,135,162.00    3.25093604%    34,135,162.00     3.73201923%        0.000000%        0.000000%
Class X-1-B       34,135,162.00    3.25093604%    34,135,162.00     3.73201923%        0.000000%        0.000000%
 Class X-2        34,135,162.00    3.25093604%    34,135,162.00     3.73201923%        0.000000%        0.000000%
 Class B-1        21,535,162.00    2.05094776%    21,535,162.00     2.35445312%        1.377566%       36.912085%
 Class B-2        13,135,162.00    1.25095558%    13,135,162.00     1.43607572%        0.918377%       24.608057%
 Class B-3         8,410,162.00    0.80095998%     8,410,162.00     0.91948843%        0.516587%       13.842032%
 Class B-4         5,785,162.00    0.55096242%     5,785,162.00     0.63249549%        0.286993%        7.690018%
 Class B-5         3,685,162.00    0.35096438%     3,685,162.00     0.40290113%        0.229594%        6.152014%
 Class B-6                 0.00    0.00000000%             0.00     0.00000000%        0.402901%       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    0.01782592%
         Fraud      31,500,308.00    3.00000001%  18,795,490.62    2.05492309%
Special Hazard      11,240,000.00    1.07046573%  10,638,648.04    1.16313024%
</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            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              1    202,471.80
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                           1    202,471.80

              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       0.051733%     0.027367%
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%                   0.051733%     0.027367%
</TABLE>

<TABLE>
<CAPTION>
               REO                                     TOTAL
----------------------------------------------------------------------------
              No. of      Principal                   No. of       Principal
              Loans        Balance                     Loans        Balance
<S>         <C>           <C>           <C>          <C>          <C>
0-29 Days          0          0.00      0-29 Days           0           0.00
30 Days            0          0.00      30 Days             0           0.00
60 Days            0          0.00      60 Days             0           0.00
90 Days            0          0.00      90 Days             1     202,471.80
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     202,471.80

              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      0.051733%      0.027367%
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%                  0.051733%      0.027367%
</TABLE>

                                     GROUP 2

<TABLE>
<CAPTION>
            DELINQUENT                                 BANKRUPTCY                             FORECLOSURE
-----------------------------------------------------------------------------------------------------------------------
              No. of      Principal                      No. of     Principal                    No. of      Principal
              Loans        Balance                       Loans       Balance                     Loans        Balance
<S>         <C>           <C>            <C>           <C>          <C>           <C>          <C>          <C>
0-29 Days          0          0.00       0-29 Days            0         0.00      0-29 Days           0           0.00
30 Days            0          0.00       30 Days              0         0.00      30 Days             0           0.00
60 Days            0          0.00       60 Days              0         0.00      60 Days             0           0.00
90 Days            0          0.00       90 Days              0         0.00      90 Days             1     288,399.28
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                          1     288,399.28

              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      0.195313%      0.164966%
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%                  0.195313%      0.164966%
</TABLE>

<TABLE>
<CAPTION>
                 REO                                   TOTAL
------------------------------------------------------------------------------
               No. of      Principal                   No. of       Principal
               Loans        Balance                    Loans         Balance
<S>           <C>          <C>          <C>           <C>          <C>
0-29 Days            0         0.00     0-29 Days            0           0.00
30 Days              0         0.00     30 Days              0           0.00
60 Days              0         0.00     60 Days              0           0.00
90 Days              0         0.00     90 Days              1     288,399.28
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     288,399.28

               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       0.195313%      0.164966%
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%                  0.195313%      0.164966%
</TABLE>
<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                    Mixed ARM
<S>                                                     <C>
Weighted Average Gross Coupon                                 2.934286%
Weighted Average Net Coupon                                   2.684286%
Weighted Average Pass-Through Rate                            2.684286%
Weighted Average Maturity (Stepdown Calculation)                   283

Beginning Scheduled Collateral Loan Count                        2,471
Number of Loans Paid in Full                                        26
Ending Scheduled Collateral Loan Count                           2,445

Beginning Scheduled Collateral Balance                  926,134,540.79
Ending Scheduled Collateral Balance                     914,656,647.14
Ending Actual Collateral Balance at 31-Dec-2003         914.656,648.85

Monthly P&I Constant                                      2,264,619.33
Special Servicing Fee                                             0.00
Prepayment Penalties                                              0.00
Realization Loss Amount                                           0.00
Cumulative Realized Loss                                          0.00

Class A Optimal Amount                                   13,473,211.86

Ending Scheduled Balance for Premium Loans              914,656,647.14

Scheduled Principal                                               0.00
Unscheduled Principal                                    11,477,893.65
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
            GROUP                            1                  2               TOTAL

Collateral Description                     Mixed ARM        6 Month ARM         Mixed ARM
<S>                                  <C>                 <C>               <C>
Weighted Average Coupon Rate                2.926683           2.966466          2.934286
Weighted Average Net Rate                   2.676683           2.716466          2.684286
Pass-Through Rate                           2.676683           2.716466          2.682486
Weighted Average Maturity                        283                283               283
Record Date                               12/31/2003         12/31/2003        12/31/2003
Principal and Interest Constant         1,827,079.53         437,539.80      2,264,619.33
Beginning Loan Count                           1,955                516             2,471
Loans Paid in Full                                22                  4                26
Ending Loan Count                              1,933                512             2,445
Beginning Scheduled Balance           749,140,151.86     176,994,388.93    926,134,540.79
Ending Scheduled Balance              739,832,964.98     174,823,682.16    914,656,647.14
Scheduled Principal                             0.00               0.00              0.00
Unscheduled Principal                   9,307,186.88       2,170,706.77     11,477,893.65
Scheduled Interest                      1,827,079.53         437,539.80      2,264,619.33
Servicing Fee                             156,070.86          36,873.83        192,944.69
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                            1,671,008.67         400,665.97      2,071,674.64
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                  347,830,535.91
Six Month LIBOR Loans                  392,002,429.07
Pro Rata Senior Percentage                  96.311505%
Senior Percentage                          100.000000%
Senior Prepayment Percentage               100.000000%
Subordinate Percentage                       0.000000%
Subordinate Prepayment Percentage            0.000000%

Group 2

Pro Rata Senior Percentage                  96.325779%
Senior Percentage                          100.000000%
Senior Prepayment Percentage               100.000000%
Subordinate Percentage                       0.000000%
Subordinate Prepayment Percentage            0.000000%
</TABLE>