<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 2002-8
                         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>
1-A1     81743RAA0     SEN            1.25000%                0.00          0.00          0.00       0.00
1-A2     81743RAB8     SEN            3.45500%       33,656,546.89     96,902.81  1,240,449.17       0.00
 2A      81743RAC6     SEN            1.42000%      387,370,375.65    458,388.27  5,693,824.54       0.00
 3A      81743RAD4     SEN            2.95478%       38,464,382.84     94,711.51    509,529.94       0.00
 X-1     81743RAE2      IO            1.78131%                0.00     49,960.70          0.00       0.00
X-2A    81743RAFf9      IO            1.02113%                0.00    136,053.18          0.00       0.00
X-2B     81743AFG7      IO            1.17966%                0.00    223,628.76          0.00       0.00
 X-B     81743RAH5      IO            1.25508%                0.00      9,485.24          0.00       0.00
 A-R     81743RAJ1     SEN            5.37281%                0.00          0.00          0.00       0.00
 B-1     81743RAK8     SUB            1.79500%        9,069,000.00     13,565.71          0.00       0.00
 B-2     81743RAL6     SUB            3.05008%        5,505,000.00     13,992.22          0.00       0.00
 B-3     81743RAM4     SUB            3.05008%        3,886,000.00      9,877.16          0.00       0.00
 B-4     SMT0208B4     SUB            3.05008%        1,618,000.00      4,112.52          0.00       0.00
 B-5     SMT0208B5     SUB            3.05008%          970,000.00      2,465.48          0.00       0.00
 B-6     SMT0208B6     SUB            3.05008%        2,306,324.82      5,862.06          0.00       0.00
         ----------------------------------------------------------------------------------------------------
Totals                                              482,845,630.20  1,119,005.62  7,443,803.65       0.00
-------------------------------------------------------------------------------------------------------------

<CAPTION>
          Ending
        Certificate       Total       Cumulative
Class     Balance      Distribution  Realized Loss
<S>    <C>             <C>           <C>
--------------------------------------------------
1-A1             0.00          0.00      0.00
1-A2    32,416,097.72  1,337,351.98      0.00
 2A    381,676,551.11  6,152,212.81      0.00
 3A     37,954,852.90    604,241.45      0.00
 X-1             0.00     49,960.70      0.00
X-2A             0.00    136,053.18      0.00
X-2B             0.00    223,628.76      0.00
 X-B             0.00      9,485.24      0.00
 A-R             0.00          0.00      0.00
 B-1     9,069,000.00     13,565.71      0.00
 B-2     5,505,000.00     13,992.22      0.00
 B-3     3,886,000.00      9,877.16      0.00
 B-4     1,618,000.00      4,112.52      0.00
 B-5       970,000.00      2,465.48      0.00
 B-6     2,306,324.82      5,862.66      0.00
       -------------------------------------------
Totals 475,401,826.55  8,562,809.27      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>
1-A1     50,000,000.00            0.00      0.00              0.00    0.00       0.00             0.00
1-A2     61,468,000.00   33,656,546.89      0.00      1,240,449.17    0.00       0.00     1,240,449.17
 2A     463,097,000.00  387,370,375.65      0.00      5,693,824.54    0.00       0.00     5,693,824.54
 3A      49,973,000.00   38,464,382.84      0.00        509,529.94    0.00       0.00       509,529.94
 X-1              0.00            0.00      0.00              0.00    0.00       0.00             0.00
X-2A              0.00            0.00      0.00              0.00    0.00       0.00             0.00
X-2B              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      9,069,000.00    9,069,000.00      0.00              0.00    0.00       0.00             0.00
 B-2      5,505,000.00    5,505,000.00      0.00              0.00    0.00       0.00             0.00
 B-3      3,886,000.00    3,886,000.00      0.00              0.00    0.00       0.00             0.00
 B-4      1,618,000.00    1,618,000.00      0.00              0.00    0.00       0.00             0.00
 B-5        970,000.00      970,000.00      0.00              0.00    0.00       0.00             0.00
 B-6      2,306,324.82    2,306,324.82      0.00              0.00    0.00       0.00             0.00
        --------------------------------------------------------------------------------------------------
Totals  647,892,424.82  482,845,630.20      0.00      7,443,803.65    0.00       0.00     7,443,803.65
----------------------------------------------------------------------------------------------------------

<CAPTION>
       Ending Certificate  Ending Certificate  Total Principal
Class       Balance            Percentage        Distribution
--------------------------------------------------------------
<S>    <C>                 <C>                 <C>
1-A1               0.00       0.00000000                0.00
1-A2      32,416,097.72       0.52736542        1,240,449.17
 2A      381,676,551.11       0.82418273        5,693,824.54
 3A       37,954,852.90       0.75950719          509,529.94
 X-1               0.00       0.00000000                0.00
X-2A               0.00       0.00000000                0.00
X-2B               0.00       0.00000000                0.00
 X-B               0.00       0.00000000                0.00
 A-R               0.00       0.00000000                0.00
 B-1       9,069,000.00       1.00000000                0.00
 B-2       5,505,000.00       1.00000000                0.00
 B-3       3,886,000.00       1.00000000                0.00
 B-4       1,618,000.00       1.00000000                0.00
 B-5         970,000.00       1.00000000                0.00
 B-6       2,306,324.82       1.00000000                0.00
       -------------------------------------------------------
Totals   475,401,826.55       0.73376661        7,443,803.65
--------------------------------------------------------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                           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>
1-A1     50,000,000.00      0.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
1-A2     61,468,000.00    547.54582693   0.00000000   20.18040558   0.00000000  0.00000000    20.18040558
 2A     463,097,000.00    836.47783434   0.00000000   12.29510133   0.00000000  0.00000000    12.29510133
 3A      49,973,000.00    769.70329658   0.00000000   10.19610470   0.00000000  0.00000000    10.19610470
 X-1              0.00      0.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
X-2A              0.00      0.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
X-2B              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      9,069,000.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 B-2      5,505,000.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 B-3      3,886,000.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 B-4      1,618,000.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 B-5        970,000.00   1000.00000000   0.00000000    0.00000000   0.00000000  0.00000000     0.00000000
 B-6      2,306,324.82   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>
1-A1         0.00000000         0.00000000        0.00000000
1-A2       527.36542136         0.52736542       20.18040558
 2A        824.18273301         0.82418273       12.29510133
 3A        759.50719188         0.75950719       10.19610470
 X-1         0.00000000         0.00000000        0.00000000
X-2A         0.00000000         0.00000000        0.00000000
X-2B         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>
 1-A1         50,000,000.00         1.25000%              0.00           0.00       0.00          0.00        0.00         0.00
 1-A2         61,468,000.00         3.45500%     33,656,546.89      96,902.81       0.00          0.00        0.00         0.00
  2A         463,097,000.00         1.42000%    387,370,375.65     458,388.28       0.00          0.00        0.00         0.00
  3A          49,973,000.00         2.95478%     38,464,382.84      94,711.51       0.00          0.00        0.00         0.00
  X-1                  0.00         1.78131%     33,656,546.89      49,960.70       0.00          0.00        0.00         0.00
 X-2A                  0.00         1.02113%    159,884,911.40     136,053.18       0.00          0.00        0.00         0.00
 X-2B                  0.00         1.17966%    227,485,464.25     223,628.76       0.00          0.00        0.00         0.00
  X-B                  0.00         1.25508%      9,069,000.00       9,485.24       0.00          0.00        0.00         0.00
  A-R                100.00         5.37281%              0.00           0.00       0.00          0.00        0.00         0.00
  B-1          9,069,000.00         1.79500%      9,069,000.00      13,565.71       0.00          0.00        0.00         0.00
  B-2          5,505,000.00         3.05008%      5,505,000.00      13,992.22       0.00          0.00        0.00         0.00
  B-3          3,886,000.00         3.05008%      3,886,000.00       9,877.16       0.00          0.00        0.00         0.00
  B-4          1,618,000.00         3.05008%      1,618,000.00       4,112.52       0.00          0.00        0.00         0.00
  B-5            970,000.00         3.05008%        970,000.00       2,465.48       0.00          0.00        0.00         0.00
  B-6          2,306,324.82         3.05008%      2,306,324.82       5,862.06       0.00          0.00        0.00         0.00
------       --------------                                      ------------       ----          ----        ----         ----
Totals       647,892,424.82                                      1,119,005.63       0.00          0.00        0.00         0.00
------       --------------                                      ------------       ----          ----        ----         ----
</TABLE>

<TABLE>
<CAPTION>
                                 Remaining      Ending
                                   Unpaid     Certificate/
             Total Interest       Interest     Notational
Class         Distribution       Shortfall      Balance
-----         ------------       ---------      -------
<S>          <C>                 <C>         <C>
 1-A1                 0.00          0.00               0.00
 1-A2            96,902.81          0.00      32,416,097.72
  2A            458,388.27          0.00     381,676,551.11
  3A             94,711.51          0.00      37,954,852.90
  X-1            49,960.70          0.00      32,416,097.72
 X-2A           136,053.18          0.00     156,538,224.55
 X-2B           223,628.76          0.00     225,138,326.56
  X-B             9,485.24          0.00       9,069,000.00
  A-R                 0.00          0.00               0.00
  B-1            13,565.71          0.00       9,069,000.00
  B-2            13,992.22          0.00       5,505,000.00
  B-3             9,877.16          0.00       3,886,000.00
  B-4             4,112.52          0.00       1,618,000.00
  B-5             2,465.48          0.00         970,000.00
  B-6             5,862.06          0.00       2,306,324.82
------        ------------          ----
Totals        1,119,005.62          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
 Class        Original Face   Certificate    Certificate/     Current Accrued    Interest     Interest
  (5)            Amount          Rate      Notional Balance       Interest       Shortfall    Shortfall
  ----           ------          ----      ----------------       --------       ---------    ---------
 <S>         <C>              <C>          <C>                <C>               <C>          <C>
  1-A1        50,000,000.00    1.25000%        0.00000000        0.00000000     0.00000000   0.00000000
  1-A2        61,468,000.00    3.45500%      547.54582693        1.57647573     0.00000000   0.00000000
   2A        463,097,000.00    1.42000%      836.47783434        0.98983211     0.00000000   0.00000000
   3A         49,973,000.00    2.95478%      769.70329658        1.89525364     0.00000000   0.00000000
   X-1                 0.00    1.78131%      301.93909364        0.44820666     0.00000000   0.00000000
  X-2A                 0.00    1.02113%      848.80491512        0.72228584     0.00000000   0.00000000
  X-2B                 0.00    1.17966%      828.02601574        0.81398797     0.00000000   0.00000000
   X-B                 0.00    1.25508%     1000.00000000        1.04589701     0.00000000   0.00000000
   A-R               100.00    5.37281%        0.00000000        0.00000000     0.00000000   0.00000000
   B-1         9,069,000.00    1.79500%     1000.00000000        1.49583306     0.00000000   0.00000000
   B-2         5,505,000.00    3.05008%     1000.00000000        2.54172934     0.00000000   0.00000000
   B-3         3,886,000.00    3.05008%     1000.00000000        2.54172928     0.00000000   0.00000000
   B-4         1,618,000.00    3.05008%     1000.00000000        2.54173053     0.00000000   0.00000000
   B-5           970,000.00    3.05008%     1000.00000000        2.54173196     0.00000000   0.00000000
   B-6         2,306,324.82    3.05008%     1000.00000000        2.54173217     0.00000000   0.00000000
</TABLE>

<TABLE>
<CAPTION>
                Non-                                        Remaining
              Supported                                      Unpaid
 Class        Interest       Realized       Total Interest  Interest      Ending Certificate/
  (5)         Shortfall      Loss (6)        Distribution   Shortfall     Notational Balance
  ----        ---------      --------        ------------   ---------     ------------------
 <S>         <C>            <C>             <C>            <C>            <C>
  1-A1       0.00000000     0.00000000        0.00000000   0.00000000           0.00000000
  1-A2       0.00000000     0.00000000        1.57647573   0.00000000         527.36542136
   2A        0.00000000     0.00000000        0.98983209   0.00000000         824.18273301
   3A        0.00000000     0.00000000        1.89525364   0.00000000         759.50719188
   X-1       0.00000000     0.00000000        0.44820666   0.00000000         290.81079521
  X-2A       0.00000000     0.00000000        0.72228584   0.00000000         831.03785866
  X-2B       0.00000000     0.00000000        0.81398797   0.00000000         819.48265199
   X-B       0.00000000     0.00000000        1.04589701   0.00000000        1000.00000000
   A-R       0.00000000     0.00000000        0.00000000   0.00000000           0.00000000
   B-1       0.00000000     0.00000000        1.49583306   0.00000000        1000.00000000
   B-2       0.00000000     0.00000000        2.54172934   0.00000000        1000.00000000
   B-3       0.00000000     0.00000000        2.54172928   0.00000000        1000.00000000
   B-4       0.00000000     0.00000000        2.54173053   0.00000000        1000.00000000
   B-5       0.00000000     0.00000000        2.54173196   0.00000000        1000.00000000
   B-6       0.00000000     0.00000000        2.54173217   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.

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

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

Deposits
         Payments of Interest and Principal                              8,717,919.18
         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                                                           8,717,919.18

Withdrawals
         Reimbursement for Servicer Advances                                     0.00
         Payment of Service Fee                                            155,109.91
         Payment of Interest and Principal                               8,562,809.27
                                                                         ------------
Total Withdrawals (Pool Distribution Amount)                             8,717,919.18

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
                                                                       =========
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                                    <C>
Gross Servicing Fee                                                    151,488.57
Master Servicing Fee                                                     3,621.34
Non-Supported Prepayment/Curtailment Interest Shortfall                      0.00
                                                                       ----------

Net Servicing Fee                                                      155,109.91
                                                                       ==========
</TABLE>

<TABLE>
<CAPTION>
                                            Beginning          Current          Current       Ending
           Account Type                      Balance         Withdrawals       Deposits       Balance
           ------------                      -------         -----------       --------       -------
<S>                                         <C>              <C>               <C>           <C>
Class X-1 Basis Risk Reserve Fund           2,500.00            0.00             0.00        2,500.00
Class X-2 Basis Risk Reserve Fund           5,000.00            0.00             0.00        5,000.00
Class X-B Basis Risk Reserve Fund           2,500.00            0.00             0.00        2,500.00
</TABLE>

<PAGE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

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

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

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

<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       647,892,324.82      99.99998457%   475,401,826.55   100.00000000%        95.087456%         0.000000%
Class 1-A-1   597,892.324.82      92.28265402%   475,401,826.55   100.00000000%         0.000000%         0.000000%
Class 1-A-2   536,424,324.82      82.79527654%   442,985,728.83    93.18132664%         6.818673%       138.801263%
Class 2A       73,327,324.82      11.31782407%    61,309,177.72    12.89628569%        80.285041%     1,634.286386%
Class 3A       23,354,324.82       3.60466089%    23,354,324.82     4.91254419%         7.983741%       162.517449%
Class X-1      23,354,324.82       3.60466089%    23,354,324.82     4.91254419%         0.000000%         0.000000%
Class X-2-A    23,354,324.82       3.60466089%    23,354,324.82     4.91254419%         0.000000%         0.000000%
Class X-2-B    23,354,324.82       3.60466089%    23,354,324.82     4.91254419%         0.000000%         0.000000%
Class B-1      14,285,324.82       2.20489147%    14,285,342.82     3.00489481%         1.907649%        38.832208%
Class B-2       8,780,324.82       1.35521338%     8,780,324.82     1.84692703%         1.157968%        23.571651%
Class B-3       4,894,324.82       0.75542245%     4,894,324.82     1.02951326%         0.817414%        16.639316%
Class B-4       3,276,324.82       0.50568963%     3,276,324.82     0.68916959%         0.340344%         6.928053%
Class B-5       2,306,324.82       0.35597342%     2,306,324.82     0.48513167%         0.204038%         4.153406%
Class B-6               0.00       0.00000000%             0.00     0.00000000%         0.485132%         9.875365%
</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       126,045.00        0.01945462%          126,045.00         0.02651336%
         Fraud    19,436,773.00        3.00000004%       10,357,716.80         2.17872886%
Special Hazard    15,500,000.00        2.39237247%       15,499,500.00         3.26029458%
</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
<S>         <C>       <C>        <C>         <C>       <C>
0-29 Days    0         0.00      0-29 Days      0         0.00
30 Days      0         0.00      30 Days        0         0.00
60 Days      0         0.00      60 Days        0         0.00
90 Days      0         0.00      90 Days        0         0.00
120 Days     0         0.00      120 Days       0         0.00
150 Days     0         0.00      150 Days       0         0.00
180+ Days    0         0.00      180+ Days      0         0.00
           --------------------             --------------------
             0         0.00                     0         0.00

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

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

                                     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
<S>         <C>       <C>        <C>         <C>       <C>
0-29 Days      0         0.00    0-29 Days      0        0.00
30 Days        0         0.00    30 Days        0        0.00
60 Days        0         0.00    60 Days        0        0.00
90 Days        0         0.00    90 Days        0        0.00
120 Days       0         0.00    120 Days       0        0.00
150 Days       0         0.00    150 Days       0        0.00
180+ Days      0         0.00    180+ Days      0        0.00
           --------------------             --------------------
               0         0.00                   0        0.00

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

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

<PAGE>

                                     Group 3

<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
<S>         <C>       <C>        <C>         <C>       <C>
0-29 Days      0         0.00    0-29 Days      0         0.00
30 Days        0         0.00    30 Days        0         0.00
60 Days        0         0.00    60 Days        0         0.00
90 Days        0         0.00    90 Days        0         0.00
120 Days       0         0.00    120 Days       0         0.00
150 Days       0         0.00    150 Days       0         0.00
180+ Days      0         0.00    180+ Days      0         0.00
           --------------------             --------------------
               0         0.00                   0         0.00

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

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

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                                     Mixed Arm
<S>                                                     <C>
Weighted Average Gross Coupon                                 3.166516%
Weighted Average Net Coupon                                   2.790027%
Weighted Average Pass-Through Rate                            2.781027%
Weighted Average Maturity (Stepdown Calculation)                   315

Beginning Scheduled Collateral Loan Count                        1,280
Number of Loans Paid in Full                                        18
Ending Scheduled Collateral Loan Count                           1,262

Beginning Scheduled Collateral Balance                  482,845,630.20
Ending Scheduled Collateral Balance                     475,401,826.55
Ending Actual Collateral Balance at 28-Nov-2003         475,395,834.54

Monthly P&I Constant                                      1,274,115.54
Special Servicing Fee                                             0.00
Prepayment Penalties                                              0.00
Realization Loss Amount                                           0.00
Cumulative Realized Loss                                          0.00

Class A Optimal Amount                                    8,503,448.88

Ending Scheduled Balance for Premium Loans              475,401,826.55

Scheduled Principal                                               0.00
Unscheduled Principal                                     7,443,803.65
</TABLE>

                             MISCELLANEOUS REPORTING

<TABLE>
<S>                                       <C>
One Month Libor Loan Balance              163,631,104.06
Six Month Libor Loan Balance - POOL 1      36,579,380.61
Six Month Libor Loan Balance - POOL 2     235,339,534.79
Six Month Libor Loan Balance - POOL 3      39,851,807.09
Pro Rata Senior Percent                        95.163190%
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                3             TOTAL
<S>                               <C>             <C>              <C>             <C>
Collateral Description                Mixed ARM        Mixed ARM       Mixed ARM        Mixed ARM
Weighted Average Coupon Rate           5.495313         2.931686        3.338781         3.166516
Weighted Average Net Rate              5.245313         2.543226        2.963781         2.790027
Pass-Through Rate                      5.236313         2.534226        2.954781         2.781027
Weighted Average Maturity                   339              306             343              315
Record Date                          11/28/2003       11/28/2003      11/28/2003       11/28/2003
Principal and Interest Constant      173,193.16       988,624.34      112,298.04     1,274,115.54
Beginning Loan Count                         77            1,082             121            1,280
Loans Paid in Full                            3               13               2               18
Ending Loan Count                            74            1,069             119            1,262
Beginning Scheduled Balance       37,819,829.78   404,664,463.39   40,361,337.03   482,845,630.20
Ending Scheduled Balance          36,579,380.61   398,970,638.85   39,851,807.09   475,401,826.55
Scheduled Principal                        0.00             0.00            0.00             0.00
Unscheduled Principal              1,240,449.17     5,693,824.54      509,529.94     7,443,803.65
Scheduled Interest                   173,193.16       988,624.34      112,298.04     1,274,115.54
Servicing Fee                          7,879.13       130,996.52       12,612.92       151,488.57
Master Servicing Fee                     283.65         3,034.98          302.71         3,621.34
Trustee Fee                                0.00             0.00            0.00             0.00
FRY Amount                                 0.00             0.00            0.00             0.00
Special Hazard Fee                         0.00             0.00            0.00             0.00
Other Fee                                  0.00             0.00            0.00             0.00
Pool Insurance Fee                         0.00             0.00            0.00             0.00
Spread 1                                   0.00             0.00            0.00             0.00
Spread 2                                   0.00             0.00            0.00             0.00
Spread 3                                   0.00             0.00            0.00             0.00
Net Interest                         165,030.38       854,592.84       99,382.41     1,119,005.63
Realized Loss Amount                       0.00             0.00            0.00             0.00
Cumulative Realized Loss                   0.00             0.00            0.00             0.00
Percentage of Cumulative Losses            0.00             0.00            0.00             0.00
Prepayment Penalties                       0.00             0.00            0.00             0.00
Special Servicing Fee                      0.00             0.00            0.00             0.00
</TABLE>