<PAGE>
                                                                    EXHIBIT 10.1


CONTACT: CUSTOMER SERVICES -- CTSLINK
         WELLS FARGO BANK MINNESOTA, N.A.
         SECURITIES ADMINISTRATION SERVICES
         7485 NEW HORIZON WAY
         FREDERICK, MD  21703
         WWW.CTSLINK.COM
         TELEPHONE: (301) 815-6600
         FAX:       (301) 315-6660



                                SMT SERIES 2004-1
                          RECORD DATE: JANUARY 31, 2005
                      DISTRIBUTION DATE: FEBRUARY 22, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                              Certificate       Certificate       Beginning
                                 Class         Pass-Through      Certificate        Interest        Principal        Current
   Class          CUSIP       Description          Rate             Balance        Distribution    Distribution    Realized Loss
------------ ---------------- ------------- ----------------- ------------------ --------------- ---------------- ---------------
<S>          <C>              <C>           <C>               <C>                <C>             <C>              <C>
     A          81744FAA5         SEN               3.20250%     508,265,849.83    1,356,434.49    13,435,062.60            0.00
    X-1         81744FAB3          IO               0.57796%               0.00      244,798.87             0.00            0.00
    X-2         81744FAC1          IO               0.14301%               0.00            0.00             0.00            0.00
    X-B         81744FAD9          IO               0.53660%               0.00        6,846.95             0.00            0.00
    B-1         81744FAG2         SUB               3.05000%       9,375,000.00       23,828.13             0.00            0.00
    B-2         81744FAH0         SUB               3.55000%       5,937,000.00       17,563.63             0.00            0.00
    B-3         81744FAJ6         SUB               3.78046%       3,437,000.00       10,827.87             0.00            0.00
    B-4         81744FAK3         SUB               3.78046%       1,562,000.00        4,920.90             0.00            0.00
    B-5         81744FAL1         SUB               3.78046%         937,000.00        2,951.91             0.00            0.00
    B-6         81744FAM9         SUB               3.78046%       2,500,468.00        7,877.44             0.00            0.00
    A-R         81744FAF4         RES               2.57032%               0.00            0.00             0.00            0.00
------------ ---------------- ------------- ----------------- ----------------- --------------- ----------------  ---------------
Totals                                                           532,014,317.83    1,676,050.19    13,435,062.60            0.00
------------ ---------------- ------------- ----------------- ----------------- --------------- ----------------  ---------------

<CAPTION>
                                      Ending
                                   Certificate            Total         Cumulative
   Class          CUSIP               Balance         Distribution     Realized Loss
------------ ----------------  --------------------- ---------------- ----------------
<S>          <C>               <C>                   <C>              <C>
     A          81744FAA5         494,830,787.23     14,791,497.09             0.00
    X-1         81744FAB3                   0.00        244,798.87             0.00
    X-2         81744FAC1                   0.00              0.00             0.00
    X-B         81744FAD9                   0.00          6,846.95             0.00
    B-1         81744FAG2           9,375,000.00         23,828.13             0.00
    B-2         81744FAH0           5,937,000.00         17,563.63             0.00
    B-3         81744FAJ6           3,437,000.00         10,827.87             0.00
    B-4         81744FAK3           1,562,000.00          4,920.90             0.00
    B-5         81744FAL1             937,000.00          2,951.91             0.00
    B-6         81744FAM9           2,500,468.00          7,877.44             0.00
    A-R         81744FAF4                   0.00              0.00             0.00
------------ ---------------  ------------------   --------------- ----------------
Totals                            518,579,255.23     15,111,112.79             0.00
------------ ---------------  ------------------   --------------- ----------------
</TABLE>

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



                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                    Beginning        Scheduled      Unscheduled                                 Total
               Original Face       Certificate       Principal       Principal                  Realized       Principal
   Class          Amount             Balance       Distribution    Distribution     Accretion    Loss (1)      Reduction
------------ ----------------- ------------------ -------------- ----------------- ----------- ------------ ----------------
<S>          <C>               <C>                <C>            <C>               <C>         <C>          <C>
     A         601,250,000.00     508,265,849.83         303.69     13,434,758.91        0.00         0.00    13,435,062.60
    X-1                  0.00               0.00           0.00              0.00        0.00         0.00             0.00
    X-2                  0.00               0.00           0.00              0.00        0.00         0.00             0.00
    X-B                  0.00               0.00           0.00              0.00        0.00         0.00             0.00
    B-1          9,375,000.00       9,375,000.00           0.00              0.00        0.00         0.00             0.00
    B-2          5,937,000.00       5,937,000.00           0.00              0.00        0.00         0.00             0.00
    B-3          3,437,000.00       3,437,000.00           0.00              0.00        0.00         0.00             0.00
    B-4          1,562,000.00       1,562,000.00           0.00              0.00        0.00         0.00             0.00
    B-5            937,000.00         937,000.00           0.00              0.00        0.00         0.00             0.00
    B-6          2,500,468.00       2,500,468.00           0.00              0.00        0.00         0.00             0.00
    A-R                100.00               0.00           0.00              0.00        0.00         0.00             0.00
             ---------------- ------------------ -------------- ----------------- ----------- ------------ ----------------
Totals         624,998,568.00     532,014,317.83         303.69     13,434,758.91        0.00         0.00    13,435,062.60
             ---------------- ------------------ -------------- ----------------- ----------- ------------ ----------------

<CAPTION>

                   Ending              Ending
   Class        Certificate         Certificate       Total Principal
                  Balance            Percentage         Distribution
------------ ------------------- ------------------- ------------------
<S>          <C>                 <C>                 <C>
     A           494,830,787.23          0.82300339      13,435,062.60
    X-1                    0.00          0.00000000               0.00
    X-2                    0.00          0.00000000               0.00
    X-B                    0.00          0.00000000               0.00
    B-1            9,375,000.00          1.00000000               0.00
    B-2            5,937,000.00          1.00000000               0.00
    B-3            3,437,000.00          1.00000000               0.00
    B-4            1,562,000.00          1.00000000               0.00
    B-5              937,000.00          1.00000000               0.00
    B-6            2,500,468.00          1.00000000               0.00
    A-R                    0.00          0.00000000               0.00
             ------------------ ------------------- ------------------
Totals           518,579,255.23          0.82972871      13,435,062.60
             ------------------ ------------------- ------------------
</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                                    Total
              Original Face     Certificate       Principal       Principal                     Realized       Principal
   Class         Amount           Balance        Distribution    Distribution    Accretion       Loss (3)      Reduction
------------ ---------------- ----------------- -------------- --------------- ------------- -------------- ----------------
<S>          <C>              <C>               <C>            <C>             <C>           <C>            <C>
     A        601,250,000.00      845.34860679     0.00050510     22.34471336    0.00000000     0.00000000      22.34521846
    X-1                 0.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    X-2                 0.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    X-B                 0.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-1         9,375,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-2         5,937,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-3         3,437,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-4         1,562,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-5           937,000.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    B-6         2,500,468.00     1000.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
    A-R               100.00        0.00000000     0.00000000      0.00000000    0.00000000     0.00000000       0.00000000
------------ --------------- ----------------- -------------- --------------- ------------- --------------  ----------------

<CAPTION>

                    Ending               Ending
                  Certificate          Certificate       Total Principal
   Class            Balance            Percentage          Distribution
------------  ------------------- ------------------- ------------------
<S>           <C>                 <C>                 <C>
     A              823.00338832       0.82300339        22.34521846
    X-1               0.00000000       0.00000000         0.00000000
    X-2               0.00000000       0.00000000         0.00000000
    X-B               0.00000000       0.00000000         0.00000000
    B-1            1000.00000000       1.00000000         0.00000000
    B-2            1000.00000000       1.00000000         0.00000000
    B-3            1000.00000000       1.00000000         0.00000000
    B-4            1000.00000000       1.00000000         0.00000000
    B-5            1000.00000000       1.00000000         0.00000000
    B-6            1000.00000000       1.00000000         0.00000000
    A-R               0.00000000       0.00000000         0.00000000
----------   -------------------  ---------------     -------------
</TABLE>

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


                         INTEREST DISTRIBUTION STATEMENT
<TABLE>
<CAPTION>

                                                   Beginning                      Payment of
                                   Current       Certificate/       Current        Unpaid       Current     Non-Supported
             Original Face        Certificate      Notional         Accrued       Interest      Interest      Interest
  Class          Amount              Rate           Balance        Interest      Shortfall     Shortfall      Shortfall
---------- ------------------- ---------------- ---------------- -------------- ------------- ------------- ------------
<S>        <C>                 <C>              <C>              <C>            <C>           <C>           <C>
    A          601,250,000.00         3.20250%   508,265,849.83   1,356,434.49          0.00          0.00         0.00
   X-1                   0.00         0.57796%   382,500,098.65     184,225.62          0.00          0.00         0.00
   X-2                   0.00         0.14301%   508,265,849.83      60,573.25          0.00          0.00         0.00
   X-B                   0.00         0.53660%    15,312,000.00       6,846.95          0.00          0.00         0.00
   B-1           9,375,000.00         3.05000%     9,375,000.00      23,828.13          0.00          0.00         0.00
   B-2           5,937,000.00         3.55000%     5,937,000.00      17,563.63          0.00          0.00         0.00
   B-3           3,437,000.00         3.78046%     3,437,000.00      10,827.87          0.00          0.00         0.00
   B-4           1,562,000.00         3.78046%     1,562,000.00       4,920.90          0.00          0.00         0.00
   B-5             937,000.00         3.78046%       937,000.00       2,951.91          0.00          0.00         0.00
   B-6           2,500,468.00         3.78046%     2,500,468.00       7,877.44          0.00          0.00         0.00
   A-R                 100.00         2.57032%             0.00           0.00          0.00          0.00         0.00
---------- ------------------- ---------------- ---------------- -------------- ------------- ------------- ------------
 Totals        624,998,568.00                                     1,676,050.19          0.00          0.00         0.00
---------- ------------------- ---------------- ---------------- -------------- ------------- ------------- ------------


<CAPTION>

                                             Remaining       Ending
                                              Unpaid       Certificate/
              Realized     Total Interest     Interest     Notational
  Class       Loss(4)       Distribution     Shortfall      Balance
----------    --------   ---------------- ------------- ------------------
<S>           <C>        <C>              <C>           <C>
    A           0.00        1,356,434.49          0.00     494,830,787.23
   X-1          0.00          244,798.87          0.00     368,174,966.23
   X-2          0.00                0.00          0.00     494,830,787.23
   X-B          0.00            6,846.95          0.00      15,312,000.00
   B-1          0.00           23,828.13          0.00       9,375,000.00
   B-2          0.00           17,563.63          0.00       5,937,000.00
   B-3          0.00           10,827.87          0.00       3,437,000.00
   B-4          0.00            4,920.90          0.00       1,562,000.00
   B-5          0.00            2,951.91          0.00         937,000.00
   B-6          0.00            7,877.44          0.00       2,500,468.00
   A-R          0.00                0.00          0.00               0.00
----------    --------   ---------------- ------------- ------------------
 Totals         0.00        1,676,050.19          0.00
----------    --------   ---------------- ------------- ------------------
</TABLE>

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



<PAGE>


                     INTEREST DISTRIBUTION FACTORS STATEMENT


<TABLE>
<CAPTION>

                                                                             Payment of
                              Current        Beginning                         Unpaid       Current    Non-Supported
            Original Face    Certificate   Certificate/     Current Accrued    Interest     Interest     Interest      Realized
Class (5)      Amount           Rate      Notional Balance      Interest      Shortfall    Shortfall     Shortfall      Loss (6)
---------- ----------------- ----------- ----------------- ----------------  ----------- ------------ ------------- --------------
<S>        <C>               <C>         <C>                <C>              <C>         <C>          <C>           <C>
    A        601,250,000.00    3.20250%      845.34860679        2.25602410   0.00000000   0.00000000    0.00000000     0.00000000
   X-1                 0.00    0.57796%      636.17480025        0.30640436   0.00000000   0.00000000    0.00000000     0.00000000
   X-2                 0.00    0.14301%      845.34860679        0.10074553   0.00000000   0.00000000    0.00000000     0.00000000
   X-B                 0.00    0.53660%     1000.00000000        0.44716236   0.00000000   0.00000000    0.00000000     0.00000000
   B-1         9,375,000.00    3.05000%     1000.00000000        2.54166720   0.00000000   0.00000000    0.00000000     0.00000000
   B-2         5,937,000.00    3.55000%     1000.00000000        2.95833418   0.00000000   0.00000000    0.00000000     0.00000000
   B-3         3,437,000.00    3.78046%     1000.00000000        3.15038406   0.00000000   0.00000000    0.00000000     0.00000000
   B-4         1,562,000.00    3.78046%     1000.00000000        3.15038412   0.00000000   0.00000000    0.00000000     0.00000000
   B-5           937,000.00    3.78046%     1000.00000000        3.15038420   0.00000000   0.00000000    0.00000000     0.00000000
   B-6         2,500,468.00    3.78046%     1000.00000000        3.15038625   0.00000000   0.00000000    0.00000000     0.00000000
   A-R               100.00    2.57032%        0.00000000        0.00000000   0.00000000   0.00000000    0.00000000     0.00000000

<CAPTION>

                                Remaining
                                 Unpaid
              Total Interest    Interest    Ending Certificate/
Class (5)       Distribution    Shortfall   Notational Balance
----------  ----------------- ------------ --------------------
<S>         <C>               <C>          <C>
    A          2.25602410     0.00000000         823.00338832
   X-1         0.40714989     0.00000000         612.34921618
   X-2         0.00000000     0.00000000         823.00338832
   X-B         0.44716236     0.00000000        1000.00000000
   B-1         2.54166720     0.00000000        1000.00000000
   B-2         2.95833418     0.00000000        1000.00000000
   B-3         3.15038406     0.00000000        1000.00000000
   B-4         3.15038412     0.00000000        1000.00000000
   B-5         3.15038420     0.00000000        1000.00000000
   B-6         3.15038625     0.00000000        1000.00000000
   A-R         0.00000000     0.00000000           0.00000000
</TABLE>

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


                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                                  15,265,757.67
         Liquidations, Insurance Proceeds, Reserve Funds                              0.00
         Proceeds from Repurchased Loans                                              0.00
         Other Amounts (Servicer Advances)                                       23,926.33
         Realized Losses (Gains, Subsequent Expenses & Recoveries)                    0.00
         Prepayment Penalties                                                         0.00
                                                                          ----------------
Total Deposits                                                               15,289,684.00

Withdrawals
         Reimbursement for Servicer Advances                                      7,311.80
         Payment of Service Fee                                                 171,259.41
         Payment of Interest and Principal                                   15,111,112.79
                                                                          ----------------
Total Withdrawals (Pool Distribution Amount)                                 15,289,684.00

Ending Balance                                                                        0.00
                                                                          ================

</TABLE>



<PAGE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL


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

          Non-Supported Prepayment Curtailment Interest Shortfall                    0.00
                                                                            =============

                                 SERVICING FEES

          Gross Servicing Fee                                                  166,825.96
          Master Servicing Fee                                                   4,433.45
          Supported Prepayment/Curtailment Interest Shortfall                        0.00
                                                                            -------------

          Net Servicing Fee                                                    171,259.41
                                                                            =============
</TABLE>


                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                                 Beginning          Current         Current       Ending
                Account Type                      Balance         Withdrawals       Deposits      Balance
           ----------------------             ------------    --------------     -----------    ---------
           <S>                                 <C>             <C>                <C>            <C>
           Class X-1 Sub Account                 4,500.00               0.00            0.00      4,500.00
           Class X-2 Sub Account                 4,500.00          60,573.25       60,573.25      4,500.00
           Class X-B Sub Account                 1,000.00               0.00            0.00      1,000.00
</TABLE>

<PAGE>


             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<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           17       7,518,891.87     30 Days        0             0.00       30 Days         0             0.00
60 Days            2         283,392.04     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
              ------------ -------------               ----------- -----------                  ----------- -----------
                  19       7,757,283.91                    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        1.109661%    1.449901%       30 Days    0.000000%   0.000000%        30 Days     0.000000%   0.000000%
60 Days        0.130548%    0.045970%       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%
              ------------ -------------               ----------- -----------                  ----------- -----------
               1.240209%    1.495871%                  0.000000%   0.000000%                    0.000000%   0.000000%


<CAPTION>

                   REO                                        TOTAL
---------------------------------------     ---------------------------------------
              No. of         Principal                       No. of       Principal
               Loans          Balance                        Loans         Balance
<S>           <C>            <C>             <C>             <C>       <C>
0-29 Days        0             0.00            0-29 Days       0               0.00
30 Days          0             0.00            30 Days         17      7,518,891.87
60 Days          0             0.00            60 Days         2         283,392.04
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                            19      7,757,283.91


              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     1.109661%    1.449901%
60 Days      0.000000%   0.000000%             60 Days     0.130548%    0.045970%
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%                         1.240209%    1.495871%
</TABLE>

<TABLE>
<S>                                                 <C>                                                 <C>
Current Period Class A Insufficient Funds: 0.00     Principal Balance of Contaminated Properties 0.00   Periodic Advance 23,926.33
</TABLE>

<TABLE>
<CAPTION>
                 Original $        Original%        Current $            Current %          Current Class %       Prepayment %
               --------------    -------------    --------------       --------------      ----------------     ---------------
<S>            <C>               <C>              <C>                  <C>                 <C>                  <C>
Class A        23,748,468.00      3.79976359%      23,748,468.00          4.57952526%           95.420475%           0.000000%
Class X-1      23,748,468.00      3.79976359%      23,748,468.00          4.57952526%            0.000000%           0.000000%
Class X-2      23,748,468.00      3.79976359%      23,748,468.00          4.57952526%            0.000000%           0.000000%
Class B-1      14,373,468.00      2.29976015%      14,373,468.00          2.77170131%            1.807825%          39.476231%
Class B-2       8,436,468.00      1.34983797%       8,436,468.00          1.62684255%            1.144859%          24.999507%
Class B-3       4,999,468.00      0.79991671%       4,999,468.00          0.96407019%            0.662772%          14.472513%
Class B-4       3,437,468.00      0.54999614%       3,437,468.00          0.66286261%            0.301208%           6.577266%
Class B-5       2,500,468.00      0.40007580%       2,500,468.00          0.48217663%            0.180686%           3.945518%
Class B-6               0.00      0.00000000%               0.00          0.00000000%            0.482177%          10.528965%
Please refer to the prospectus supplement for a full description of loss exposure
</TABLE>
<PAGE>



<TABLE>
<CAPTION>

                                               COLLATERAL STATEMENT

Collateral Description                                                                                   Mixed Arm
<S>                                                                                                      <C>
Weighted Average Gross Coupon                                                                            4.166752%
Weighted Average Net Coupon                                                                              3.790463%
Weighted Average Pass-Through Rate                                                                       3.780463%
Weighted Average Maturity (Stepdown Calculation)                                                               322

Beginning Scheduled Collateral Loan Count                                                                    1,558
Number of Loans Paid in Full                                                                                    26
Ending Scheduled Collateral Loan Count                                                                       1,532

Beginning Scheduled Collateral Balance                                                              532,014,318.26
Ending Scheduled Collateral Balance                                                                 518,579,255.66
Ending Actual Collateral Balance at 31-Jan-2005                                                     518,579,628.92

Monthly P&I Constant                                                                                  1,847,613.29
Special Servicing Fee                                                                                         0.00
Prepayment Penalties                                                                                          0.00
Realization Loss Amount                                                                                       0.00
Cumulative Realized Loss                                                                                      0.00

Class A Optimal Amount                                                                               15,043,142.91

Ending Scheduled Balance for Premium Loans                                                          518,579,255.66

Scheduled Principal                                                                                         303.69
Unscheduled Principal                                                                                13,434,758.91

</TABLE>




        <TABLE>
        <CAPTION>
        MISCELLANEOUS REPORTING

        <S>                                                              <C>
        One-Month Libor Loan Balance                                      86,234,285.59
        Six-Month Libor Loan Balance                                     432,069,026.73
        Prorata Senior Percentage                                            95.536122%
        Senior Percentage                                                   100.000000%
        Senior Prepayment Percentage                                        100.000000%
        Subordinate Percentage                                                0.000000%
        Subordinate Prepayment Percentage                                     0.000000%

</TABLE>