<PAGE>

                                  EXHIBIT 10.1

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

                                SMT SERIES 2002-9
                         RECORD DATE: NOVEMBER 28, 2003
                      DISTRIBUTION DATE: DECEMBER 22, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                     Certificate                         Beginning
                        Class      Certificate Pass-    Certificate        Interest       Principal        Current
 Class     CUSIP     Description     Through Rate         Balance        Distribution    Distribution   Realized Loss
 -----     -----     -----------     ------------         -------        ------------    ------------   -------------
<S>      <C>         <C>           <C>                 <C>               <C>             <C>            <C>
  1A     81743SAA8       SEN           1.47000%        337,139,971.16       412,996.46   2,553,221.00        0.00
  2A     81743SAB6       SEN           2.73939%        121,286,527.66       276,875.65   1,362,159.60        0.00
 X-1A    81743SAC4        IO           0.97588%                  0.00       146,671.22           0.00        0.00
 X-1B    81743SAD2        IO           1.04167%                  0.00       136,098.49           0.00        0.00
  X-B    81743SAE0        IO           0.68712%                  0.00         4,410.15           0.00        0.00
  A-R    81743SAF7       SEN           3.16053%                  0.00             0.00           0.00        0.00
  B-1    81743SAG5       SUB           1.87000%          7,702,000.00        12,002.28           0.00        0.00
  B-2    81743SAH3       SUB           2.55712%          4,564,000.00         9,725.37           0.00        0.00
  B-3    81743SAJ9       SUB           2.55712%          3,424,000.00         7,296.31           0.00        0.00
  B-4    SMT0209B4       SUB           2.55712%          1,426,000.00         3,038.71           0.00        0.00
  B-5    SMR0209B5       SUB           2.55712%            856,000.00         1,824.08           0.00        0.00
  B-6    SMT0209B6       SUB           2.55712%          1,997,086.78         4,255.66           0.00        0.00
------   ---------   -----------       -------         --------------     ------------   ------------        ----
Totals                                                 478,395,585.60     1,015,194.58   3,915,380.60        0.00

<CAPTION>
             Ending
           Certificate       Total        Cumulative
 Class       Balance      Distribution   Realized Loss
 -----       -------      ------------   -------------
<S>      <C>              <C>            <C>
  1A     334,586,750.16   2,966,217.46       0.00
  2A     119,924,368.06   1,639,035.25       0.00
 X-1A              0.00     146,671.22       0.00
 X-1B              0.00     136,098.49       0.00
  X-B              0.00       4,410.15       0.00
  A-R              0.00           0.00       0.00
  B-1      7,702,000.00      12,002.28       0.00
  B-2      4,564,000.00       9,725.57       0.00
  B-3      3,424,000.00       7,296.31       0.00
  B-4      1,426,000.00       3,038.71       0.00
  B-5        856,000.00       1,824.08       0.00
  B-6      1,997,086.78       4,255.66       0.00
------   --------------   ------------       ----
Totals   474,480,205.00   4,930,575.18       0.00
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                             Beginning        Scheduled    Unscheduled
          Original Face     Certificate       Principal     Principal                 Realized   Total Principal
  Class      Amount           Balance       Distribution   Distribution   Accretion   Loss (1)      Reduction
  -----      ------           -------       ------------   ------------   ---------   --------      ---------
<S>       <C>              <C>              <C>            <C>            <C>         <C>        <C>
   1A     381,698,000.00   337,139,971.16       0.00       2,553,221.00     0.00        0.00      2,553,221.00
   2A     168,875,000.00   121,286,527.66       0.00       1,362,159.60     0.00        0.00      1,362,159.60
  X-1A              0.00             0.00       0.00               0.00     0.00        0.00              0.00
  X-1B              0.00             0.00       0.00               0.00     0.00        0.00              0.00
   X-B              0.00             0.00       0.00               0.00     0.00        0.00              0.00
   A-R            100.00             0.00       0.00               0.00     0.00        0.00              0.00
   B-1      7,702,000.00     7,702,000.00       0.00               0.00     0.00        0.00              0.00
   B-2      4,564,000.00     4,564,000.00       0.00               0.00     0.00        0.00              0.00
   B-3      3,424,000.00     3,424,000.00       0.00               0.00     0.00        0.00              0.00
   B-4      1,426,000.00     1,426,000.00       0.00               0.00     0.00        0.00              0.00
   B-5        856,000.00       856,000.00       0.00               0.00     0.00        0.00              0.00
   B-6      1,997,086.78     1,997,086.78       0.00               0.00     0.00        0.00              0.00
------    --------------   --------------       ----       ------------     ----        ----      ------------
Totals    570,533,186.78   478,395,585.60       0.00       3,915,380.60     0.00        0.00      3,915,380.60

<CAPTION>
          Ending Certificate   Ending Certificate   Total Principal
  Class         Balance            Percentage        Distribution
  -----         -------            ----------        ------------
<S>       <C>                  <C>                  <C>
   1A       334,586,750.16         0.87659521        2,553,221.00
   2A       119,924,368.06         0.71013689        1,362,159.60
  X-1A                0.00         0.00000000                0.00
  X-1B                0.00         0.00000000                0.00
   X-B                0.00         0.00000000                0.00
   A-R                0.00         0.00000000                0.00
   B-1        7,702,000.00         1.00000000                0.00
   B-2        4,564,000.00         1.00000000                0.00
   B-3        3,424,000.00         1.00000000                0.00
   B-4        1,426,000.00         1.00000000                0.00
   B-5          856,000.00         1.00000000                0.00
   B-6        1,997,086.78         1.00000000                0.00
------      --------------         ----------        ------------
Totals      474,480,205.00         0.83164348        3,915,380.60
</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.

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                           Beginning      Scheduled     Unscheduled
        Original Face     Certificate     Principal      Principal                  Realized   Total Principal
Class      Amount           Balance      Distribution   Distribution   Accretion    Loss (3)      Reduction
-----      ------           -------      ------------   ------------   ---------    --------      ---------
<S>     <C>              <C>             <C>            <C>            <C>         <C>         <C>
  1A    381,698,000.00    883.28448334    0.00000000     6.68927058    0.00000000  0.00000000    6.68927058
  2A    168,875,000.00    718.20297652    0.00000000     8.06608201    0.00000000  0.00000000    8.06608210
 X-1A             0.00      0.00000000    0.00000000     0.00000000    0.00000000  0.00000000    0.00000000
 X-1B             0.00      0.00000000    0.00000000     0.00000000    0.00000000  0.00000000    0.00000000
  X-B             0.00      0.00000000    0.00000000     0.00000000    0.00000000  0.00000000    0.00000000
  A-R           100.00      0.00000000    0.00000000     0.00000000    0.00000000  0.00000000    0.00000000
  B-1     7,702,000.00   1000.00000000    0.00000000     0.00000000    0.00000000  0.00000000    0.00000000
  B-2     4,564,000.00   1000.00000000    0.00000000     0.00000000    0.00000000  0.00000000    0.00000000
  B-3     3,424,000.00   1000.00000000    0.00000000     0.00000000    0.00000000  0.00000000    0.00000000
  B-4     1,426,000.00   1000.00000000    0.00000000     0.00000000    0.00000000  0.00000000    0.00000000
  B-5       856,000.00   1000.00000000    0.00000000     0.00000000    0.00000000  0.00000000    0.00000000
  B-6     1,997,086.78   1000.00000000    0.00000000     0.00000000    0.00000000  0.00000000    0.00000000

<CAPTION>
          Ending Certificate   Ending Certificate   Total Principal
Class           Balance            Percentage        Distribution
-----           -------            ----------        ------------
<S>       <C>                  <C>                  <C>
  1A         876.59521275          0.87659521         6.68927058
  2A         710.13689451          0.71013689         8.06608201
 X-1A          0.00000000          0.00000000         0.00000000
 X-1B          0.00000000          0.00000000         0.00000000
  X-B          0.00000000          0.00000000         0.00000000
  A-R          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
</TABLE>

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

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                 Beginning                   Payment of                Non-
                                               Certificate/       Current      Unpaid    Current     Supported
            Original Face       Current          Notional         Accrued     Interest   Interest     Interest  Realized
 Class         Amount       Certificate Rate      Balance         Interest    Shortfall  Shortfall   Shortfall  Loss (4)
------------------------------------------------------------------------------------------------------------------------
<S>        <C>              <C>                <C>               <C>         <C>         <C>         <C>        <C>
  1A       381,698,000.00       1.47000%       337,139,971.16    412,996.46     0.00       0.00        0.00      0.00
  2A       168,875,000.00       2.73939%       121,286,527.66    276,875.65     0.00       0.00        0.00      0.00
 X-1A                0.00       0.97588%       180,354,893.65    146,671.22     0.00       0.00        0.00      0.00
 X-1B                0.00       1.04167%       156,785,077.51    136,098.49     0.00       0.00        0.00      0.00
  X-B                0.00       0.68712%         7,702,000.00      4,410.15     0.00       0.00        0.00      0.00
  A-R              100.00       3.16053%                 0.00          0.00     0.00       0.00        0.00      0.00
  B-1        7,702,000.00       1.87000%         7,702,000.00     12,002.28     0.00       0.00        0.00      0.00
  B-2        4,564,000.00       2.55712%         4,564,000.00      9,725.57     0.00       0.00        0.00      0.00
  B-3        3,424,000.00       2.55712%         3,424,000.00      7,296.31     0.00       0.00        0.00      0.00
  B-4        1,426,000.00       2.55712%         1,426,000.00      3,038.71     0.00       0.00        0.00      0.00
  B-5          856,000.00       2.55712%           856,000.00      1,824.08     0.00       0.00        0.00      0.00
  B-6        1,997,086.78       2.55712%         1,997,086.78      4,255.66     0.00       0.00        0.00      0.00
------------------------------------------------------------------------------------------------------------------------
Totals     570,533,186.78                                      1,015,194.58     0.00       0.00        0.00      0.00
------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                                 Remaining        Ending
                                   Unpaid       Certificate/
              Total Interest      Interest      Notational
 Class         Distribution      Shortfall        Balance
-------------------------------------------------------------
<S>          <C>                 <C>           <C>
  1A           412,996.46           0.00       334,586,750.16
  2A           276,875.65           0.00       119,924,368.06
 X-1A          146,671.22           0.00       178,341,526.65
 X-1B          136,098.49           0.00       156,245,223.51
  X-B            4,410.15           0.00         7,702,000.00
  A-R                0.00           0.00                 0.00
  B-1           12,002.28           0.00         7,702,000.00
  B-2            9,725.57           0.00         4,564,000.00
  B-3            7,296.31           0.00         3,424,000.00
  B-4            3,038.71           0.00         1,426,000.00
  B-5            1,824.08           0.00           856,000.00
  B-6            4,255.66           0.00         1,997,086.78
-------------------------------------------------------------
Totals       1,015,194.58           0.00
-------------------------------------------------------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                  Beginning                     Payment of                       Non-
                                                 Certificate/    Current         Unpaid         Current       Supported
 Class      Original Face       Current           Notional       Accrued        Interest        Interest       Interest   Realized
  (5)          Amount       Certificate Rate       Balance       Interest       Shortfall      Shortfall      Shortfall    Loss (6)
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>              <C>                 <C>              <C>            <C>            <C>            <C>         <C>
   1A      381,698,000.00        1.47000%        883.28448334    1.08202348     0.00000000     0.00000000     0.00000000  0.00000000
   2A      168,875,000.00        2.73939%        718.20297652    1.63953013     0.00000000     0.00000000     0.00000000  0.00000000
  X-1A               0.00        0.97588%        885.10593006    0.71980063     0.00000000     0.00000000     0.00000000  0.00000000
  X-1B               0.00        1.04167%        881.19846481    0.76493109     0.00000000     0.00000000     0.00000000  0.00000000
   X-B               0.00        0.68712%       1000.00000000    0.57259803     0.00000000     0.00000000     0.00000000  0.00000000
   A-R             100.00        3.16053%          0.00000000    0.00000000     0.00000000     0.00000000     0.00000000  0.00000000
   B-1       7,702,000.00        1.87000%       1000.00000000    1.55833290     0.00000000     0.00000000     0.00000000  0.00000000
   B-2       4,564,000.00        2.55712%       1000.00000000    2.13093120     0.00000000     0.00000000     0.00000000  0.00000000
   B-3       3,424,000.00        2.55712%       1000.00000000    2.13093166     0.00000000     0.00000000     0.00000000  0.00000000
   B-4       1,426,000.00        2.55712%       1000.00000000    2.13093268     0.00000000     0.00000000     0.00000000  0.00000000
   B-5         856,000.00        2.55712%       1000.00000000    2.13093458     0.00000000     0.00000000     0.00000000  0.00000000
   B-6       1,997,086.78        2.55712%       1000.00000000    2.13093394     0.00000000     0.00000000     0.00000000  0.00000000

<CAPTION>
                              Remaining            Ending
                               Unpaid           Certificate/
 Class      Total Interest    Interest           Notational
  (5)        Distribution     Shortfall           Balance
-------------------------------------------------------------
<S>         <C>               <C>               <C>
   1A          1.08202348     0.00000000         876.59521275
   2A          1.63953013     0.00000000         710.13689451
  X-1A         0.71980063     0.00000000         875.22517199
  X-1B         0.76493109     0.00000000         878.16425694
   X-B         0.57259803     0.00000000        1000.00000000
   A-R         0.00000000     0.00000000           0.00000000
   B-1         1.55833290     0.00000000        1000.00000000
   B-2         2.13093120     0.00000000        1000.00000000
   B-3         2.13093166     0.00000000        1000.00000000
   B-4         2.13093268     0.00000000        1000.00000000
   B-5         2.13093458     0.00000000        1000.00000000
   B-6         2.13093394     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                       5,083,880.51
      Liquidations, Insurance Proceeds, Reserve Funds                  0.00
      Proceeds from Repurchased Loans                                  0.00
      Other Amounts (Servicer Advances)                                0.00
      Realized Losses                                                  0.00
      Prepayment Penalties                                             0.00
                                                               ------------
Total Deposits                                                 5,083,880.51

Withdrawals
      Reimbursement for Servicer Advances                              0.00
      Payment of Service Fee                                     153,305.33
      Payment of Interest and Principal                        4,930,575.18
                                                               ------------
Total Withdrawals (Pool Distribution Amount)                   5,083,880.51

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                                              149,717.37
Master Servicing Fee                                               3,587.96
Supported Prepayment/Curtailment Interest Shortfall                    0.00
                                                               ------------

Net Servicing Fee                                                153,305.33
                                                               ============
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                          Beginning              Current            Current         Ending
        Account Type                       Balance             Withdrawals          Deposits        Balance
------------------------------------------------------------------------------------------------------------
<S>                                       <C>                  <C>                  <C>             <C>
X-1 Basis Risk Reserve Fund                5,000.00               0.00                0.00          5,000.00
X-2 Basis Risk Reserve Fund                5,000.00               0.00                0.00          5,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

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

            No. of     Principal            No. of       Principal               No. of    Principal            No. of    Principal
             Loans      Balance              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%  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%  30 Days    0.000000%  0.000000%
60 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%  90 Days    0.000000%  0.000000%
120 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%  150 Days   0.000000%  0.000000%
180+ 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%             0.000000%  0.000000%

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

              No. of    Principal
               Loans     Balance

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

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

<PAGE>

<TABLE>
<CAPTION>
                      Original $         Original %         Current $            Current %       Current Class %       Prepayment %
                      ----------         ----------         ---------            ---------       ---------------       ------------
<S>                 <C>                 <C>               <C>                  <C>                <C>                 <C>
  Class A           570,533,086.78      99.99998247%      474,480,205.00       100.00000000%         95.791376%           0.000000%
 Class 1A           188,844,086.78      33.09957968%      139,893,454.84        29.48351762%         70.516482%       1,675.523542%
 Class 2A            19,969,086.78       3.50007453%       19,969,086.78         4.20862379%         25.274894%         600.550087%
Class X-1-A          19,969,086.78       3.50007453%       19,969,086.78         4.20862379%          0.000000%           0.000000%
Class X-1-B          19,969,086.78       3.50007453%       19,969,086.78         4.20862379%          0.000000%           0.000000%
 Class B-1           12,267,086.78       2.15010924%       12,267,086.78          2.5837377%          1.623250%          38.569616%
 Class B-2            7,703,086.78       1.35015578%        7,703,086.78         1.62347906%          0.961895%          22.855327%
 Class B-3            4,279,086.78       0.75001540%        4,279,086.78         0.90184727%          0.721632%          17.146503%
 Class B-4            2,853,086.78       0.50007376%        2,853,086.78         0.60130786%          0.300539%           7.141038%
 Class B-5            1,997,086.78       0.35003867%        1,997,086.78         0.42089992%          0.180408%           4.286626%
 Class B-6                    0.00       0.00000000%                0.00         0.00000000%          0.420900%          10.000892%
</TABLE>

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

<TABLE>
<CAPTION>
                       Original $        Original %          Current $            Current %
<S>                  <C>                 <C>                <C>                  <C>
    Bankruptcy          100,000.00       0.01752746%          100,000.00         0.02107569%
         Fraud       17,115,996.00       3.00000007%        9,879,946.13         2.08226729%
Special Hazard        6,000,000.00       1.05164785%        5,997,988.72         1.26411780%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                     GROUP 1

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

             No. of   Principal              No. of    Principal                No. of   Principal
             Loans     Balance                Loans     Balance                  Loans    Balance
0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%  0-29 Days   0.000000%  0.000000%
30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%  30 Days     0.000000%  0.000000%
60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%  60 Days     0.000000%  0.000000%
90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%  90 Days     0.000000%  0.000000%
120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%  120 Days    0.000000%  0.000000%
150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%  150 Days    0.000000%  0.000000%
180+ Days  0.000000%  0.000000%  180+Days   0.000000%  0.000000%  180+ Days   0.000000%  0.000000%
           --------   --------              --------   --------               --------   --------
           0.000000%  0.000000%             0.000000%  0.000000%              0.000000%  0.000000%

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

             No. of   Principal               No. of   Principal
              Loans    Balance                 Loans    Balance
0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%
30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%
60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%
90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%  180+ Days  0.000000%  0.000000%
           --------   --------              --------   --------
           0.000000%  0.000000%             0.000000%  0.000000%
</TABLE>
                                     GROUP 2


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

             No. of   Principal               No. of   Principal                No. of   Principal
             Loans     Balance                 Loans    Balance                  Loans    Balance
0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%  0-29 Days   0.000000%  0.000000%
30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%  30 Days     0.000000%  0.000000%
60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%  60 Days     0.000000%  0.000000%
90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%  90 Days     0.000000%  0.000000%
120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%  120 Days    0.000000%  0.000000%
150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%  150 Days    0.000000%  0.000000%
180+ Days  0.000000%  0.000000%  180+ Days  0.000000%  0.000000%  180+ Days   0.000000%  0.000000%
           --------   --------              --------   --------               --------   --------
           0.000000%  0.000000%             0.000000%  0.000000%              0.000000%  0.000000%

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

             No. of   Principal               No. of   Principal
              Loans    Balance                Loans     Balance
0-29 Days  0.000000%  0.000000%  0-29 Days  0.000000%  0.000000%
30 Days    0.000000%  0.000000%  30 Days    0.000000%  0.000000%
60 Days    0.000000%  0.000000%  60 Days    0.000000%  0.000000%
90 Days    0.000000%  0.000000%  90 Days    0.000000%  0.000000%
120 Days   0.000000%  0.000000%  120 Days   0.000000%  0.000000%
150 Days   0.000000%  0.000000%  150 Days   0.000000%  0.000000%
180+ Days  0.000000%  0.000000%  180+ Days  0.000000%  0.000000%
           --------   --------              --------   --------
           0.000000%  0.000000%             0.000000%  0.000000%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                 Mixed Arm
<S>                                                 <C>
Weighted Average Gross Coupon                             2.931047%
Weighted Average Net Coupon                               2.555498%
Weighted Average Pass-Through Rate                        2.546498%
Weighted Average Maturity (Stepdown Calculation)               317

Beginning Scheduled Collateral Loan Count                    1,311
Number of Loans Paid in Full                                    10
Ending Scheduled Collateral Loan Count                       1,301

Beginning Scheduled Collateral Balance              478,395,585.61
Ending Scheduled Collateral Balance                 474,480,205.01
Ending Actual Collateral Balance at 28-Nov-2003     474,478,598.82

Monthly P&I Constant                                  1,168,499.92
Special Servicing Fee                                         0.00
Prepayment Penalties                                          0.00
Realization Loss Amount                                       0.00
Cumulative Realized Loss                                      0.00

Class A Optimal Amount                                4,888,022.42

Ending Scheduled Balance for Premium Loans          474,480,205.01

Scheduled Principal                                           0.00
Unscheduled Principal                                 3,915,380.60
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                                     <C>
Pro Rata Senior Percent                                  95.825821%
Senior Percentage                                       100.000000%
Senior Prepay Percentage                                100.000000%
Subordinate Percentage                                    0.000000%
Subordinate Prepayment Percentage                         0.000000%
</TABLE>

<PAGE>


<TABLE>
<CAPTION>
             GROUP                      1              2              TOTAL
    Collateral Description          Mixed ARM      6 Month ARM      Mixed ARM
<S>                              <C>             <C>             <C>
Weighted Average Coupon Rate           2.861225        3.123387        2.931047
Weighted Average Net Rate              2.485477        2.748387        2.555498
Pass-Through Rate                      2.476477        2.739387        2.546498
Weighted Average Maturity                   301             343             317
Record Date                          11/28/2003      11/28/2003      11/28/2003
Principal and Interest Constant      836,870.29      331,629.63    1,168,499.92
Beginning Loan Count                        925             386           1,311
Loans Paid in Full                            5               5              10
Ending Loan Count                           920             381           1,301
Beginning Scheduled Balance      350,984,057.95  127,411,527.66  478,395,585.61
Ending Scheduled Balance         348,430,836.95  126,049,368.06  474,480,205.01
Scheduled Principal                        0.00            0.00            0.00
Unscheduled Principal              2,553,221.00    1,362,159.60    3,915,380.60
Scheduled Interest                   836,870.29      331,629.63    1,168,499.92
Servicing Fee                        109,901.27       39,816.10      149,717.37
Master Servicing Fee                   2,632.37          955.59        3,587.96
Trustee Fee                                0.00            0.00            0.00
FRY Amount                                 0.00            0.00            0.00
Special Hazard Fee                         0.00            0.00            0.00
Other Fee                                  0.00            0.00            0.00
Pool Insurance Fee                         0.00            0.00            0.00
Spread 1                                   0.00            0.00            0.00
Spread 2                                   0.00            0.00            0.00
Spread 3                                   0.00            0.00            0.00
Net Interest                         724,336.65      290,857.94    1,015,194.59
Realized Loss Amount                       0.00            0.00            0.00
Cumulative Realized Loss                   0.00            0.00            0.00
Percentage of Cumulative Losses            0.00            0.00            0.00
Prepayment Penalties                       0.00            0.00            0.00
Special Servicing Fee                      0.00            0.00            0.00
</TABLE>

                             MISCELLANEOUS REPORTING

Group 1

<TABLE>
<S>                                 <C>
One Month LIBOR Loans               185,720,705.81
Six Month LIBOR Loans               162,710,131.14
</TABLE>