<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 2003-4
                         RECORD DATE: DECEMBER 31, 2003
                       DISTRIBUTION DATE: JANUARY 20, 2004

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                            Certificate         Certificate      Beginning
                               Class            Pass-Through    Certificate        Interest        Principal
 Class          CUSIP       Description             Rate           Balance       Distribution     Distribution
--------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>                 <C>            <C>               <C>              <C>
 1-A-1        81743PBH8         SEN               1.45875%     143,776,694.20      174,778.54     2,427,415.98
 1-A-2        81743PBJ4         SEN               1.45375%     147,475,517.90      178,660.45     1,040,414.16
1-X-1A        81743PBM7          IO               0.85642%               0.00       48,971.57             0.00
1-X-1B        81743PBN5          IO               1.00960%               0.00       63,244.53             0.00
 1-X-2        81743PBP0          IO               1.01188%               0.00      124,366.02             0.00
 1-X-B        81743PBQ8          IO               0.63213%               0.00        2,040.11             0.00
 1-A-R        81743PBL9          R                2.39121%               0.00            0.00             0.00
 1-B-1        81743PBK1         SUB               1.79875%       3,864,000.00        5,791.98             0.00
 1-B-2        81743PBR6         SUB               2.43061%       2,628,000.00        5,323.03             0.00
 1-B-3        81743PBS4         SUB               2.43061%       1,546,000.00        3,131.43             0.00
 1-B-4        81743PBT2         SUB               2.43061%         773,000.00        1,565.72             0.00
 1-B-5        81743PBU9         SUB               2.43061%         464,000.00          939.83             0.00
 1-B-6        81743PBV7         SUB               2.43061%       1,236,668.87        2,504.88             0.00
 2-A-1        81743PBW5         SEN               1.49875%     182,606,007.62      228,067.29       494,304.28
 2-M-1        81743PBX3         MEZ               1.61875%       9,986,000.00       13,470.70             0.00
 2-X-1        81743PCA2          IO               0.89080%               0.00      135,566.36             0.00
 2-X-M        81743PCB0          IO               0.77080%               0.00        6,420.16             0.00
 2-X-B        81743PCC8          IO               0.59080%               0.00        1,171.17             0.00
 2-A-R        81743PBZ8          R                2.37007%               0.00            0.00             0.00
 2-B-1        81743PBY1         SUB               1.79875%       2,367,000.00        3,548.03             0.00
 2-B-2        81743PCD6         SUB               2.38955%         824,000.00        1,640.83             0.00
 2-B-3        81743PCE4         SUB               2.38955%       1,235,000.00        2,459.25             0.00
 2-B-4        81743PCF1         SUB               2.38955%         618,000.00        1,230.62             0.00
 2-B-5        81743PCG9         SUB               2.38955%         515,000.00        1,025.52             0.00
 2-B-6        81743PCH7         SUB               2.38955%         926,589.00        1,845.11             0.00
--------------------------------------------------------------------------------------------------------------
Totals                                                         500,841,477.59    1,007,763.13     3,962,134.42
--------------------------------------------------------------------------------------------------------------

<CAPTION>
                                                 Ending
                               Current         Certificate           Total              Cumulative
 Class          CUSIP       Realized Loss        Balance          Distribution         Realized Loss
----------------------------------------------------------------------------------------------------
<S>           <C>           <C>               <C>                 <C>                  <C>
 1-A-1        81743PBH8         0.00          141,349,278.22      2,602,194.52             0.00
 1-A-2        81743PBJ4         0.00          146,435,103.74      1,219,074.61             0.00
1-X-1A        81743PBM7         0.00                    0.00         48,971.57             0.00
1-X-1B        81743PBN5         0.00                    0.00         63,244.53             0.00
 1-X-2        81743PBP0         0.00                    0.00        124,366.02             0.00
 1-X-B        81743PBQ8         0.00                    0.00          2,040.11             0.00
 1-A-R        81743PBL9         0.00                    0.00              0.00             0.00
 1-B-1        81743PBK1         0.00            3,864,000.00          5,791.98             0.00
 1-B-2        81743PBR6         0.00            2,628,000.00          5,323.03             0.00
 1-B-3        81743PBS4         0.00            1,546,000.00          3,131.43             0.00
 1-B-4        81743PBT2         0.00              773,000.00          1,565.72             0.00
 1-B-5        81743PBU9         0.00              464,000.00            939.83             0.00
 1-B-6        81743PBV7         0.00            1,236,668.87          2,504.88             0.00
 2-A-1        81743PBW5         0.00          182,111,703.34        722,371.57             0.00
 2-M-1        81743PBX3         0.00            9,986,000.00         13,470.70             0.00
 2-X-1        81743PCA2         0.00                    0.00        135,566.36             0.00
 2-X-M        81743PCB0         0.00                    0.00          6,420.16             0.00
 2-X-B        81743PCC8         0.00                    0.00          1,171.17             0.00
 2-A-R        81743PBZ8         0.00                    0.00              0.00             0.00
 2-B-1        81743PBY1         0.00            2,367,000.00          3,548.03             0.00
 2-B-2        81743PCD6         0.00              824,000.00          1,640.83             0.00
 2-B-3        81743PCE4         0.00            1,235,000.00          2,459.25             0.00
 2-B-4        81743PCF1         0.00              618,000.00          1,230.62             0.00
 2-B-5        81743PCG9         0.00              515,000.00          1,025.52             0.00
 2-B-6        81743PCH7         0.00              926,589.00          1,845.11             0.00
----------------------------------------------------------------------------------------------------
Totals                          0.00          496,879,343.17      4,969,897.55             0.00
----------------------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                 Beginning       Scheduled     Unscheduled
             Original Face      Certificate      Principal      Principal                 Realized
 Class           Amount           Balance       Distribution   Distribution   Accretion   Loss (1)
--------------------------------------------------------------------------------------------------
<S>          <C>               <C>              <C>            <C>            <C>         <C>
 1-A-1       148,641,000.00    143,776,694.20         0.00     2,427,415.98      0.00       0.00
 1-A-2       150,000,000.00    147,475,517.90         0.00     1,040,414.16      0.00       0.00
1-X-1A                 0.00              0.00         0.00             0.00      0.00       0.00
1-X-1B                 0.00              0.00         0.00             0.00      0.00       0.00
 1-X-2                 0.00              0.00         0.00             0.00      0.00       0.00
 1-X-B                 0.00              0.00         0.00             0.00      0.00       0.00
 1-A-R               100.00              0.00         0.00             0.00      0.00       0.00
 1-B-1         3,864,000.00      3,864,000.00         0.00             0.00      0.00       0.00
 1-B-2         2,628,000.00      2,628,000.00         0.00             0.00      0.00       0.00
 1-B-3         1,546,000.00      1,546,000.00         0.00             0.00      0.00       0.00
 1-B-4           773,000.00        773,000.00         0.00             0.00      0.00       0.00
 1-B-5           464,000.00        464,000.00         0.00             0.00      0.00       0.00
 1-B-6         1,236,668.87      1,236,668.87         0.00             0.00      0.00       0.00
 2-A-1       189,415,000.00    182,606,007.62     9,457.12       484,847.16      0.00       0.00
 2-M-1         9,986,000.00      9,986,000.00         0.00             0.00      0.00       0.00
 2-X-1                 0.00              0.00         0.00             0.00      0.00       0.00
 2-X-M                 0.00              0.00         0.00             0.00      0.00       0.00
 2-X-B                 0.00              0.00         0.00             0.00      0.00       0.00
 2-A-R               100.00              0.00         0.00             0.00      0.00       0.00
 2-B-1         2,367,000.00      2,367,000.00         0.00             0.00      0.00       0.00
 2-B-2           824,000.00        824,000.00         0.00             0.00      0.00       0.00
 2-B-3         1,235,000.00      1,235,000.00         0.00             0.00      0.00       0.00
 2-B-4           618,000.00        618,000.00         0.00             0.00      0.00       0.00
 2-B-5           515,000.00        515,000.00         0.00             0.00      0.00       0.00
 2-B-6           926,589.00        926,589.00         0.00             0.00      0.00       0.00
--------------------------------------------------------------------------------------------------
Totals       515,039,457.87    500,841,477.59     9,457.12     3,952,677.30      0.00       0.00
--------------------------------------------------------------------------------------------------

<CAPTION>
                 Total          Ending          Ending
               Principal      Certificate     Certificate     Total Principal
 Class         Reduction        Balance       Percentage       Distribution
-----------------------------------------------------------------------------
<S>           <C>            <C>              <C>             <C>
 1-A-1        2,427,415.98   141,349,278.22   0.95094407       2,427,415.98
 1-A-2        1,040,414.16   146,435,103.74   0.97623402       1,040,414.16
1-X-1A                0.00             0.00   0.00000000               0.00
1-X-1B                0.00             0.00   0.00000000               0.00
 1-X-2                0.00             0.00   0.00000000               0.00
 1-X-B                0.00             0.00   0.00000000               0.00
 1-A-R                0.00             0.00   0.00000000               0.00
 1-B-1                0.00     3,864,000.00   1.00000000               0.00
 1-B-2                0.00     2,628,000.00   1.00000000               0.00
 1-B-3                0.00     1,546,000.00   1.00000000               0.00
 1-B-4                0.00       773,000.00   1.00000000               0.00
 1-B-5                0.00       464,000.00   1.00000000               0.00
 1-B-6                0.00     1,236,668.87   1.00000000               0.00
 2-A-1          494,304.28   182,111,703.34   0.96144288         494,304.28
 2-M-1                0.00     9,986,000.00   1.00000000               0.00
 2-X-1                0.00             0.00   0.00000000               0.00
 2-X-M                0.00             0.00   0.00000000               0.00
 2-X-B                0.00             0.00   0.00000000               0.00
 2-A-R                0.00             0.00   0.00000000               0.00
 2-B-1                0.00     2,367,000.00   1.00000000               0.00
 2-B-2                0.00       824,000.00   1.00000000               0.00
 2-B-3                0.00     1,235,000.00   1.00000000               0.00
 2-B-4                0.00       618,000.00   1.00000000               0.00
 2-B-5                0.00       515,000.00   1.00000000               0.00
 2-B-6                0.00       926,589.00   1.00000000               0.00
-----------------------------------------------------------------------------
Totals        3,962,134.42   496,879,343.17   0.96474034       3,962,134.42
-----------------------------------------------------------------------------
</TABLE>
(1) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                 Beginning      Scheduled       Unscheduled
            Original Face       Certificate     Principal        Principal                     Realized
Class           Amount            Balance      Distribution     Distribution   Accretion       Loss (3)
--------------------------------------------------------------------------------------------------------
<S>         <C>                <C>             <C>              <C>            <C>            <C>
 1-A-1      148,641,000.00      967.27480439    0.00000000      16.33072961    0.00000000     0.00000000
 1-A-2      150,000,000.00      983.17011933    0.00000000       6.93609440    0.00000000     0.00000000
1-X-1A                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
1-X-1B                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-X-2                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-X-B                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-A-R              100.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-1        3,864,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-2        2,628,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-3        1,546,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-4          773,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-5          464,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 1-B-6        1,236,668.87     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-A-1      189,415,000.00      964.05251759    0.04992804       2.55970837    0.00000000     0.00000000
 2-M-1        9,986,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-X-1                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-X-M                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-X-B                0.00        0.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-A-R              100.00        0.00000000     0.0000000       0.00000000    0.00000000     0.00000000
 2-B-1        2,367,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-B-2          824,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-B-3        1,235,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-B-4          618,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-B-5          515,000.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000
 2-B-6          926,589.00     1000.00000000    0.00000000       0.00000000    0.00000000     0.00000000

<CAPTION>
                  Total             Ending               Ending
                Principal         Certificate          Certificate      Total Principal
Class           Reduction           Balance             Percentage        Distribution
---------------------------------------------------------------------------------------
<S>            <C>               <C>                   <C>              <C>
 1-A-1         16.33072961        950.94407478          0.95094407        16.33072961
 1-A-2          6.93609440        976.23402493          0.97623402         6.93609440
1-X-1A          0.00000000          0.00000000          0.00000000         0.00000000
1-X-1B          0.00000000          0.00000000          0.00000000         0.00000000
 1-X-2          0.00000000          0.00000000          0.00000000         0.00000000
 1-X-B          0.00000000          0.00000000          0.00000000         0.00000000
 1-A-R          0.00000000          0.00000000          0.00000000         0.00000000
 1-B-1          0.00000000       1000.00000000          1.00000000         0.00000000
 1-B-2          0.00000000       1000.00000000          1.00000000         0.00000000
 1-B-3          0.00000000       1000.00000000          1.00000000         0.00000000
 1-B-4          0.00000000       1000.00000000          1.00000000         0.00000000
 1-B-5          0.00000000       1000.00000000          1.00000000         0.00000000
 1-B-6          0.00000000       1000.00000000          1.00000000         0.00000000
 2-A-1          2.60963641        961.44288119          0.96144288         2.60963641
 2-M-1          0.00000000       1000.00000000          1.00000000         0.00000000
 2-X-1          0.00000000          0.00000000          0.00000000         0.00000000
 2-X-M          0.00000000          0.00000000          0.00000000         0.00000000
 2-X-B          0.00000000          0.00000000          0.00000000         0.00000000
 2-A-R          0.00000000          0.00000000          0.00000000         0.00000000
 2-B-1          0.00000000       1000.00000000          1.00000000         0.00000000
 2-B-2          0.00000000       1000.00000000          1.00000000         0.00000000
 2-B-3          0.00000000       1000.00000000          1.00000000         0.00000000
 2-B-4          0.00000000       1000.00000000          1.00000000         0.00000000
 2-B-5          0.00000000       1000.00000000          1.00000000         0.00000000
 2-B-6          0.00000000       1000.00000000          1.00000000         0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                 Beginning                     Payment of
                                   Current     Certificate/       Current        Unpaid       Current
            Original Face        Certificate     Notional         Accrued       Interest      Interest
Class           Amount              Rate         Balance         Interest      Shortfall     Shortfall
------------------------------------------------------------------------------------------------------
<S>         <C>                  <C>          <C>              <C>             <C>           <C>
 1-A-1      148,641,000.00         1.45875%   143,776,694.20     174,778.54       0.00          0.00
 1-A-2      150,000,000.00         1.45375%   147,475,517.90     178,660.45       0.00          0.00
1-X-1A                0.00         0.85642%    68,604,808.91      48,962.28       0.00          0.00
1-X-1B                0.00         1.00960%    75,171,885.29      63,244.53       0.00          0.00
 1-X-2                0.00         1.01188%   147,475,517.90     124,356.73       0.00          0.00
 1-X-B                0.00         0.63213%     3,864,000.00       2,035.47       0.00          0.00
 1-A-R              100.00         2.39121%             0.00           0.00       0.00          0.00
 1-B-1        3,864,000.00         1.79875%     3,864,000.00       5,791.98       0.00          0.00
 1-B-2        2,628,000.00         2.43061%     2,628,000.00       5,323.03       0.00          0.00
 1-B-3        1,546,000.00         2.43061%     1,546,000.00       3,131.43       0.00          0.00
 1-B-4          773,000.00         2.43061%       773,000.00       1,565.72       0.00          0.00
 1-B-5          464,000.00         2.43061%       464,000.00         939.83       0.00          0.00
 1-B-6        1,236,668.87         2.43061%     1,236,668.87       2,504.88       0.00          0.00
 2-A-1      189,415,000.00         1.49875%   182,606,007.62     228,067.29       0.00          0.00
 2-M-1        9,986,000.00         1.61875%     9,986,000.00      13,470.70       0.00          0.00
 2-X-1                0.00         0.89080%   182,606,007.62     135,554.75       0.00          0.00
 2-X-M                0.00         0.77080%     9,986,000.00       6,414.35       0.00          0.00
 2-X-B                0.00         0.59080%     2,367,000.00       1,165.36       0.00          0.00
 2-A-R              100.00         2.37007%             0.00           0.00       0.00          0.00
 2-B-1        2,367,000.00         1.79875%     2,367,000.00       3,548.03       0.00          0.00
 2-B-2          824,000.00         2.38955%       824,000.00       1,640.83       0.00          0.00
 2-B-3        1,235,000.00         2.38955%     1,235,000.00       2,459.25       0.00          0.00
 2-B-4          618,000.00         2.38955%       618,000.00       1,230.62       0.00          0.00
 2-B-5          515,000.00         2.38955%       515,000.00       1,025.52       0.00          0.00
 2-B-6          926,589.00         2.38955%       926,589.00       1,845.11       0.00          0.00
------------------------------------------------------------------------------------------------------
Totals      515,039,457.87                                     1,007,716.68       0.00          0.00
------------------------------------------------------------------------------------------------------

<CAPTION>
                  Non-                                     Remaining       Ending
                Supported                                    Unpaid     Certificate/
                Interest     Realized    Total Interest     Interest     Notational
Class           Shortfall    Loss (4)     Distribution     Shortfall       Balance
-------------------------------------------------------------------------------------
<S>             <C>          <C>        <C>                <C>         <C>
 1-A-1            0.00         0.00        174,778.54         0.00     141,349,278.22
 1-A-2            0.00         0.00        178,660.45         0.00     146,435,103.74
1-X-1A            0.00         0.00         48,971.57         0.00      66,747,523.28
1-X-1B            0.00         0.00         63,244.53         0.00      74,601,754.94
 1-X-2            0.00         0.00        124,366.02         0.00     146,435,103.74
 1-X-B            0.00         0.00          2,040.11         0.00       3,864,000.00
 1-A-R            0.00         0.00              0.00         0.00               0.00
 1-B-1            0.00         0.00          5,791.98         0.00       3,864,000.00
 1-B-2            0.00         0.00          5,323.03         0.00       2,628,000.00
 1-B-3            0.00         0.00          3,131.43         0.00       1,546,000.00
 1-B-4            0.00         0.00          1,565.72         0.00         773,000.00
 1-B-5            0.00         0.00            939.83         0.00         464,000.00
 1-B-6            0.00         0.00          2,504.88         0.00       1,236,668.87
 2-A-1            0.00         0.00        228,067.29         0.00     182,111,703.34
 2-M-1            0.00         0.00         13,470.70         0.00       9,986,000.00
 2-X-1            0.00         0.00        135,566.36         0.00     182,111,703.34
 2-X-M            0.00         0.00          6,420.16         0.00       9,986,000.00
 2-X-B            0.00         0.00          1,171.17         0.00       2,367,000.00
 2-A-R            0.00         0.00              0.00         0.00               0.00
 2-B-1            0.00         0.00          3,548.03         0.00       2,367,000.00
 2-B-2            0.00         0.00          1,640.83         0.00         824,000.00
 2-B-3            0.00         0.00          2,459.25         0.00       1,235,000.00
 2-B-4            0.00         0.00          1,230.62         0.00         618,000.00
 2-B-5            0.00         0.00          1,025.52         0.00         515,000.00
 2-B-6            0.00         0.00          1,845.11         0.00         926,589.00
-------------------------------------------------------------------------------------
Totals            0.00         0.00      1,007,763.13         0.00
-------------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                              Payment of
                                Current       Beginning          Current        Unpaid         Current
              Original Face   Certificate    Certificate/        Accrued       Interest        Interest
Class (5)         Amount         Rate      Notional Balance      Interest     Shortfall       Shortfall
--------------------------------------------------------------------------------------------------------
<S>           <C>             <C>          <C>                  <C>           <C>             <C>
  1-A-1       148,641,000.00    1.45875%      967.27480439      1.17584341    0.00000000      0.00000000
  1-A-2       150,000,000.00    1.45375%      983.17011933      1.19106967    0.00000000      0.00000000
 1-X-1A                 0.00    0.85642%      975.03700631      0.69587010    0.00000000      0.00000000
 1-X-1B                 0.00    1.00960%      960.29781401      0.80792950    0.00000000      0.00000000
  1-X-2                 0.00    1.01188%      983.17011933      0.82904487    0.00000000      0.00000000
  1-X-B                 0.00    0.63213%     1000.00000000      0.52677795    0.00000000      0.00000000
  1-A-R               100.00    2.39121%        0.00000000      0.00000000    0.00000000      0.00000000
  1-B-1         3,864,000.00    1.79875%     1000.00000000      1.49895963    0.00000000      0.00000000
  1-B-2         2,628,000.00    2.43061%     1000.00000000      2.02550609    0.00000000      0.00000000
  1-B-3         1,546,000.00    2.43061%     1000.00000000      2.02550453    0.00000000      0.00000000
  1-B-4           773,000.00    2.43061%     1000.00000000      2.02551100    0.00000000      0.00000000
  1-B-5           464,000.00    2.43061%     1000.00000000      2.02549569    0.00000000      0.00000000
  1-B-6         1,236,668.87    2.43061%     1000.00000000      2.02550583    0.00000000      0.00000000
  2-A-1       189,415,000.00    1.49875%      964.05251759      1.20406140    0.00000000      0.00000000
  2-M-1         9,986,000.00    1.61875%     1000.00000000      1.34895854    0.00000000      0.00000000
  2-X-1                 0.00    0.89080%      964.05251759      0.71564950    0.00000000      0.00000000
  2-X-M                 0.00    0.77080%      000.00000000      0.64233427    0.00000000      0.00000000
  2-X-B                 0.00    0.59080%     1000.00000000      0.49233629    0.00000000      0.00000000
  2-A-R               100.00    2.37007%        0.00000000      0.00000000    0.00000000      0.00000000
  2-B-1         2,367,000.00    1.79875%     1000.00000000      1.49895649    0.00000000      0.00000000
  2-B-2           824,000.00    2.38955%     1000.00000000      1.99129854    0.00000000      0.00000000
  2-B-3         1,235,000.00    2.38955%     1000.00000000      1.99129555    0.00000000      0.00000000
  2-B-4           618,000.00    2.38955%     1000.00000000      1.99129450    0.00000000      0.00000000
  2-B-5           515,000.00    2.38955%     1000.00000000      1.99130097    0.00000000      0.00000000
  2-B-6           926,589.00    2.38955%     1000.00000000      1.99129280    0.00000000      0.00000000

<CAPTION>
                 Non-                                       Remaining
              Supported                                      Unpaid
               Interest       Realized      Total Interest   Interest      Ending Certificate/
Class (5)     Shortfall       Loss (6)       Distribution   Shortfall      Notational Balance
----------------------------------------------------------------------------------------------
<S>           <C>            <C>            <C>             <C>            <C>
  1-A-1       0.00000000     0.00000000       1.17584341    0.00000000         950.94407478
  1-A-2       0.00000000     0.00000000       1.19106967    0.00000000         976.23402493
 1-X-1A       0.00000000     0.00000000       0.69600213    0.00000000         948.64057362
 1-X-1B       0.00000000     0.00000000       0.80792950    0.00000000         953.01457338
  1-X-2       0.00000000     0.00000000       0.82910680    0.00000000         976.23402493
  1-X-B       0.00000000     0.00000000       0.52797878    0.00000000        1000.00000000
  1-A-R       0.00000000     0.00000000       0.00000000    0.00000000           0.00000000
  1-B-1       0.00000000     0.00000000       1.49895963    0.00000000        1000.00000000
  1-B-2       0.00000000     0.00000000       2.02550609    0.00000000        1000.00000000
  1-B-3       0.00000000     0.00000000       2.02550453    0.00000000        1000.00000000
  1-B-4       0.00000000     0.00000000       2.02551100    0.00000000        1000.00000000
  1-B-5       0.00000000     0.00000000       2.02549569    0.00000000        1000.00000000
  1-B-6       0.00000000     0.00000000       2.02550583    0.00000000        1000.00000000
  2-A-1       0.00000000     0.00000000       1.20406140    0.00000000         961.44288119
  2-M-1       0.00000000     0.00000000       1.34895854    0.00000000        1000.00000000
  2-X-1       0.00000000     0.00000000       0.71571079    0.00000000         961.44288119
  2-X-M       0.00000000     0.00000000       0.64291608    0.00000000        1000.00000000
  2-X-B       0.00000000     0.00000000       0.49479087    0.00000000        1000.00000000
  2-A-R       0.00000000     0.00000000       0.00000000    0.00000000           0.00000000
  2-B-1       0.00000000     0.00000000       1.49895649    0.00000000        1000.00000000
  2-B-2       0.00000000     0.00000000       1.99129854    0.00000000        1000.00000000
  2-B-3       0.00000000     0.00000000       1.99129555    0.00000000        1000.00000000
  2-B-4       0.00000000     0.00000000       1.99129450    0.00000000        1000.00000000
  2-B-5       0.00000000     0.00000000       1.99130097    0.00000000        1000.00000000
  2-B-6       0.00000000     0.00000000       1.99129280    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                                        5,115,031.62
         Liquidations, Insurance Proceeds, Reserve Funds                                  46.44
         Proceeds from Repurchased Loans                                                   0.00
         Other Amounts (Servicer Advances)                                             1,732.37
         Realized Losses (Gains, Subsequent Expenses & Recoveries)                         0.00
         Prepayment Penalties                                                              0.00
                                                                                   ------------
Total Deposits                                                                     5,116,810.43

Withdrawals
         Reimbursement for Servicer Advances                                           1,798.88
         Payment of Service Fee                                                      145,114.00
         Payment of Interest and Principal                                         4,969,897.55
                                                                                   ------------
Total Withdrawals (Pool Distribution Amount)                                       5,116,810.43

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                                                    144,070.59
Master Servicing Fee                                                     1,043.41
Supported Prepayment/Curtailment Interest Shortfall                          0.00
                                                                       ----------

Net Servicing Fee                                                      145,114.00
                                                                       ==========
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                      Beginning          Current        Current         Ending
     Account Type                      Balance        Withdrawals       Deposits        Balance
-----------------------------------------------------------------------------------------------
<S>                                   <C>             <C>               <C>            <C>
1-X-1A Reserve Fund                   4,000.00            9.29             9.29        4,000.00
1-X-2 Reserve Fund                    4,000.00            9.29             9.29        4,000.00
1-X-1B Reserve Fund                   2,000.00            4.64             4.64        2,000.00
2-X-1 Reserve Fund                    5,000.00           11.61            11.61        5,000.00
2-X-B Reserve Fund                    2,500.00            5.81             5.81        2,500.00
2-X-M Reserve Fund                    2,500.00            5.81             5.81        2,500.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

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

0-29 Days          0               0.00  0-29 Days       0         0.00      0-29 Days       0         0.00
30 Days            2         923,932.06  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
               --------      ----------              --------    --------                --------    --------
                   2         923,932.06                  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        0.196271%      0.185947%  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%
               --------       --------               --------    --------                --------    --------
               0.196271%      0.185947%              0.000000%   0.000000%               0.000000%   0.000000%
</TABLE>

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

0-29 Days        0         0.00      0-29 Days       0              0.00
30 Days          0         0.00      30 Days         2        923,932.06
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                      2        923,932.06

               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     0.196271%      0.185947%
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%               0.196271%      0.185947%
</TABLE>

<TABLE>
<CAPTION>
<S>                                         <C>                                                 <C>                     <C>
Current Period Class A Insufficient Funds:  0.00  Principal Balance of Contaminated Properties  0.00  Periodic Advance  1,732.37
</TABLE>

<PAGE>

                                GROUP 1A - 1 Mo.

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

0-29 Days          0               0.00  0-29 Days       0           0.00    0-29 Days       0         0.00
30 Days            2         923,932.06  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
               --------      ----------              --------     --------               --------    --------
                   2         923,932.06                  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        1.282051%      1.334812%  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%
               --------       --------               --------     --------               --------    --------
               1.282051%      1.334812%              0.000000%    0.000000%              0.000000%   0.000000%
</TABLE>

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

0-29 Days        0         0.00      0-29 Days       0               0.00
30 Days          0         0.00      30 Days         2         923,932.06
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                      2         923,932.06

               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     1.282051%       1.334812%
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%               1.282051%       1.334812%
</TABLE>

                                Group 1A - 6 Mo.

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

0-29 Days          0          0.00       0-29 Days       0         0.00      0-29 Days       0         0.00
30 Days            0          0.00       30 Days         0         0.00      30 Days         0         0.00
60 Days            0          0.00       60 Days         0         0.00      60 Days         0         0.00
90 Days            0          0.00       90 Days         0         0.00      90 Days         0         0.00
120 Days           0          0.00       120 Days        0         0.00      120 Days        0         0.00
150 Days           0          0.00       150 Days        0         0.00      150 Days        0         0.00
180+ Days          0          0.00       180+ Days       0         0.00      180+ Days       0         0.00
               --------     ---------                --------    --------               --------    --------
                   0          0.00                       0         0.00                      0         0.00

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

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

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

0-29 Days        0         0.00      0-29 Days       0          0.00
30 Days          0         0.00      30 Days         0          0.00
60 Days          0         0.00      60 Days         0          0.00
90 Days          0         0.00      90 Days         0          0.00
120 Days         0         0.00      120 Days        0          0.00
150 Days         0         0.00      150 Days        0          0.00
180+ Days        0         0.00      180+ Days       0          0.00
             --------    -------                 --------     --------
                 0         0.00                      0          0.00

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

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

<PAGE>

                                    GROUP 1B

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

0-29 Days          0          0.00       0-29 Days       0         0.00      0-29 Days       0         0.00
30 Days            0          0.00       30 Days         0         0.00      30 Days         0         0.00
60 Days            0          0.00       60 Days         0         0.00      60 Days         0         0.00
90 Days            0          0.00       90 Days         0         0.00      90 Days         0         0.00
120 Days           0          0.00       120 Days        0         0.00      120 Days        0         0.00
150 Days           0          0.00       150 Days        0         0.00      150 Days        0         0.00
180+ Days          0          0.00       180+ Days       0         0.00      180+ Days       0         0.00
              ------        ------                   -----       ------                 ------       ------
                   0          0.00                       0         0.00                      0         0.00

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

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

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

0-29 Days        0         0.00      0-29 Days       0          0.00
30 Days          0         0.00      30 Days         0          0.00
60 Days          0         0.00      60 Days         0          0.00
90 Days          0         0.00      90 Days         0          0.00
120 Days         0         0.00      120 Days        0          0.00
150 Days         0         0.00      150 Days        0          0.00
180+ Days        0         0.00      180+ Days       0          0.00
                 0         0.00                      0          0.00

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

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

                                     Group 2

<TABLE>
<CAPTION>
              DELINQUENT                             BANKRUPTCY                         FORECLOSURE
--------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>         <C>         <C>         <C>        <C>         <C>

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

0-29 Days          0          0.00       0-29 Days       0         0.00      0-29 Days       0         0.00
30 Days            0          0.00       30 Days         0         0.00      30 Days         0         0.00
60 Days            0          0.00       60 Days         0         0.00      60 Days         0         0.00
90 Days            0          0.00       90 Days         0         0.00      90 Days         0         0.00
120 Days           0          0.00       120 Days        0         0.00      120 Days        0         0.00
150 Days           0          0.00       150 Days        0         0.00      150 Days        0         0.00
180+ Days          0          0.00       180+ Days       0         0.00      180+ Days       0         0.00
              ------        ------                   -----       ------                 ------      -------
                   0          0.00                       0         0.00                      0         0.00

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

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

<TABLE>
<CAPTION>
                REO                                 TOTAL
-----------------------------------------------------------------------
<S>            <C>       <C>         <C>         <C>          <C>

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

0-29 Days        0         0.00      0-29 Days       0          0.00
30 Days          0         0.00      30 Days         0          0.00
60 Days          0         0.00      60 Days         0          0.00
90 Days          0         0.00      90 Days         0          0.00
120 Days         0         0.00      120 Days        0          0.00
150 Days         0         0.00      150 Days        0          0.00
180+ Days        0         0.00      180+ Days       0          0.00
             --------    --------                --------     --------
                 0         0.00                      0          0.00

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

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
COLLATERAL DESCRIPTION                                            MIXED ARM
<S>                                                            <C>
Weighted Average Gross Coupon                                        2.762143%
Weighted Average Net Coupon                                          2.416955%
Weighted Average Pass-Through Rate                                   2.414454%
Weighted Average Maturity (Stepdown Calculation)                          318

Beginning Scheduled Collateral Loan Count                               1,028
Number of Loans Paid in Full                                                9
Ending Scheduled Collateral Loan Count                                  1,019

Beginning Scheduled Collateral Balance                         500,841,478.34
Ending Scheduled Collateral Balance                            496,879,343.92
Ending Actual Collateral Balance at 31-Dec-2003                496,879,343.92

Monthly P&I Constant                                             1,162,286.93
Special Servicing Fee                                                    0.00
Prepayment Penalties                                                     0.00
Realized Loss Amount                                                     0.00
Cumulative Realized Loss                                                 0.00

Ending Scheduled Balance for Premium Loans                     496,879,343.92

Scheduled Principal                                                  9,457.12
Unscheduled Principal                                            3,952,677.30
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
MISCELLANEOUS REPORTING
<S>                                                            <C>
Group 1A Pro Rata Senior Percentage                             96.488792%
Group1B Pro Rata Senior Percentage                              96.543709%
Group 2 Pro Rata Senior Percentage                              91.726046%

Group 1A Senior Percentage                                     100.000000%
Group 1B Senior Percentage                                     100.000000%
Group 2 Senior Percentage                                      100.000000%

Group 1A Senior Prepayment Percentage                          100.000000%
Group 1B Senior Prepayment Percentage                          100.000000%
Group 2 Senior Prepayment Percentage                           100.000000%

Group 1 Subordinate Percentage                                   0.000000%
Group 2 Subordinate Percentage                                   0.000000%

Group 1 Subordinate Prepay Percentage                            0.000000%
Group 2 Subordinate Prepay Percentage                            0.000000%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
            GROUP                  GROUP 1A - 1 Mo   GROUP 1A - 6 Mo      GROUP 1B         GROUP 2           TOTAL
<S>                                <C>               <C>               <C>              <C>              <C>

Collateral Description                 1 Month           6 Month          6 Month         1 Month
                                      LIBOR ARM         LIBOR ARM        LIBOR ARM        LIBOR ARM        Mixed ARM
Weighted Average Coupon Rate              2.692673          2.845849         2.843134         2.692051         2.762143
Weighted Average Net Rate                 2.317673          2.470849         2.468134         2.392052         2.416955
Pass-Through Rate                         2.315173          2.468349         2.465634         2.389551         2.414454
Weighted Average Maturity                      294               294              294              347              318
Record Date                             12/31/2003        12/31/2003       12/31/2003       12/31/2003       12/31/2003
Principal and Interest Constant         159,543.85        184,760.50       361,919.51       456,063.07     1,162,286.93
Beginning Loan Count                           160               236              421              211            1,028
Loans Paid in Full                               4                 2                2                1                9
Ending Loan Count                              156               234              419              210            1,019
Beginning Scheduled Balance          71,101,324.12     77,907,375.08   152,755,181.77   199,077,597.37   500,841,478.34
Ending Scheduled Balance             69,218,164.66     77,363,118.56   151,714,767.61   198,583,293.09   496,879,343.92
Scheduled Principal                           0.00              0.00             0.00         9,457.12         9,457.12
Unscheduled Principal                 1,883,159.46        544,256.52     1,040,414.16       484,847.16     3,952,677.30
Scheduled Interest                      159,543.85        184,760.50       361,919.51       446,605.95     1,152,829.81
Servicing Fee                            22,219.16         24,346.05        47,735.99        49,769.39       144,070.59
Master Servicing Fee                          0.00              0.00             0.00             0.00             0.00
Trustee Fee                                 148.13            162.31           318.24           414.73         1,043.41
FRY Amount                                    0.00              0.00             0.00             0.00             0.00
Special Hazard Fee                            0.00              0.00             0.00             0.00             0.00
Other Fee                                     0.00              0.00             0.00             0.00             0.00
Pool Insurance Fee                            0.00              0.00             0.00             0.00             0.00
Spread 1                                      0.00              0.00             0.00             0.00             0.00
Spread 2                                      0.00              0.00             0.00             0.00             0.00
Spread 3                                      0.00              0.00             0.00             0.00             0.00
Net Interest                            137,176.56        160,252.14       313,865.28       396,421.83     1,007,715.81
Realized Loss Amount                          0.00              0.00             0.00             0.00             0.00
Cumulative Realized Loss                      0.00              0.00             0.00             0.00             0.00
Percentage of Cumulative Losses               0.00              0.00             0.00             0.00             0.00
Prepayment Penalties                          0.00              0.00             0.00             0.00             0.00
Special Servicing Fee                         0.00              0.00             0.00             0.00             0.00
</TABLE>