<PAGE>

                                  EXHIBIT 10.1

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

                               SMT SERIES 2002-10
                         RECORD DATE: NOVEMBER 28, 2003
                      DISTRIBUTION DATE: DECEMBER 22, 2003

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                   Certificate    Certificate
                      Class      Pass-Through      Beginning          Interest       Principal        Current
Class     CUSIP    Description       Rate      Certificate Balance   Distribution  Distribution    Realized Loss
----------------------------------------------------------------------------------------------------------------
<S>     <C>        <C>           <C>           <C>                   <C>           <C>             <C>
 1A     81743VAA1      SEN         1.52000%         727,556,908.98   921,572.08     6,048,754.12        0.00
2A-1    81743VAB9      SEN         1.50000%         169,268,901.65   211,586.13     2,277,677.72        0.00
2A-2    81743VAN3      SEN         1.80000%           3,500,000.00     5,250.10             0.00        0.00
X-1A    81743VAC7       IO         1.11462%                   0.00   318,640.19             0.00        0.00
X-1B    81743VAD5       IO         1.19491%                   0.00   382,877.68             0.00        0.00
 X-2    81743VAP8       IO         1.21112%                   0.00   174,369.53             0.00        0.00
 X-B    81743VAE3       IO         0.65450%                   0.00    14,030.76             0.00        0.00
 A-R    81743VAF0      SEN         3.37722%                   0.00         0.00             0.00        0.00
 B-1    81743VAG8      SUB         1.92000%          12,600,000.00    20,160.00             0.00        0.00
 B-2    81743VAH6      SUB         1.92000%           8,400,000.00    13,440.00             0.00        0.00
 B-3    81743VAJ2      SUB         2.52000%           4,725,000.00     9,922.50             0.00        0.00
 B-4    SMT0210B4      SUB         2.68470%           2,625,000.00     5,872.78             0.00        0.00
 B-5    SMT0210B5      SUB         2.68470%           2,100,000.00     4,698.23             0.00        0.00
 B-6    SMT0210B6      SUB         2.68470%           3,685,162.00     8,244.63             0.00        0.00
------------------------------------------------------------------------------------------------------------
Totals                                              934,460,972.63   2,090,664.51   8,326,431.84        0.00
------------------------------------------------------------------------------------------------------------

<CAPTION>
         Ending Certificate       Total         Cumulative
Class          Balance         Distribution    Realized Loss
------------------------------------------------------------
<S>      <C>                  <C>              <C>
 1A          721,508,154.86    6,970,326.20          0.00
2A-1         166,991,223.93    2,489,263.85          0.00
2A-2           3,500,000.00        5,250.00          0.00
X-1A                   0.00      318,640.19          0.00
X-1B                   0.00      382,877.68          0.00
 X-2                   0.00      174,369.53          0.00
 X-B                   0.00       14,030.76          0.00
 A-R                   0.00            0.00          0.00
 B-1          12,600,000.00       20,160.00          0.00
 B-2           8,400,000.00       13,400.00          0.00
 B-3           4,725,000.00        9,922.50          0.00
 B-4           2,625,000.00        5,872.78          0.00
 B-5           2,100,000.00        4,698.23          0.00
 B-6           3,685,162.00        8,244.63          0.00
---------------------------------------------------------
Totals       926,134,540.79   10,417,096.35          0.00
---------------------------------------------------------
</TABLE>

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

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>

                                Beginning      Scheduled     Unscheduled
         Original Face        Certificate       Principal     Principal                 Realized
Class        Amount             Balance       Distribution  Distribution   Accretion     Loss (1)
-------------------------------------------------------------------------------------------------
<S>      <C>                 <C>              <C>           <C>            <C>         <C>
 1A        822,375,000.00    727,556,908.98        0.00     6,048,754.12     0.00         0.00
2A-1       190,000,000.00    169,268,901.65        0.00     2,277,677.72     0.00         0.00
2A-2         3,500,000.00      3,500,000.00        0.00             0.00     0.00         0.00
X-1A                 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
 X-2                 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
 A-R               100.00              0.00        0.00             0.00     0.00         0.00
 B-1        12,600,000.00     12,600,000.00        0.00             0.00     0.00         0.00
 B-2         8,400,000.00      8,400,000.00        0.00             0.00     0.00         0.00
 B-3         4,725,000.00      4,725,000.00        0.00             0.00     0.00         0.00
 B-4         2,625,000.00      2,625,000.00        0.00             0.00     0.00         0.00
 B-5         2,100,000.00      2,100,000.00        0.00             0.00     0.00         0.00
 B-6         3,685,162.00      3,685,162.00        0.00             0.00     0.00         0.00
----------------------------------------------------------------------------------------------
Totals   1,050,010,262.00    934,460,972.63        0.00     8,326,431.84     0.00         0.00
----------------------------------------------------------------------------------------------

<CAPTION>
          Total Principal  Ending Certificate   Ending Certificate  Total Principal
Class        Reduction           Balance             Percentage       Distribution
-----------------------------------------------------------------------------------
<S>       <C>              <C>                  <C>                 <C>
 1A        6,048,754.12      721,508,154.86          0.87734690      6,048,754.12
2A-1       2,277,677.72      166,991,223.93          0.87890118      2,277,677.72
2A-2               0.00        3,500,000.00          1.00000000              0.00
X-1A               0.00                0.00          0.00000000              0.00
X-1B               0.00                0.00          0.00000000              0.00
 X-2               0.00                0.00          0.00000000              0.00
 X-B               0.00                0.00          0.00000000              0.00
 A-R               0.00                0.00          0.00000000              0.00
 B-1               0.00       12,600,000.00          1.00000000              0.00
 B-2               0.00        8,400,000.00          1.00000000              0.00
 B-3               0.00        4,725,000.00          1.00000000              0.00
 B-4               0.00        2,625,000.00          1.00000000              0.00
 B-5               0.00        2,100,000.00          1.00000000              0.00
 B-6               0.00        3,685,162.00          1.00000000              0.00
---------------------------------------------------------------------------------
Totals     8,326,431.84      926,134,540.79          0.88202428      8,326,431.84
---------------------------------------------------------------------------------
</TABLE>

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

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                  Scheduled       Unscheduled
          Original Face          Beginning        Principal        Principal                     Realized
Class         Amount        Certificate Balance  Distribution     Distribution     Accretion     Loss (3)
----------------------------------------------------------------------------------------------------------
<S>       <C>               <C>                  <C>              <C>             <C>           <C>
 1A        822,375,000.00          884.70212370   0.00000000        7.35522617    0.00000000    0.00000000
2A-1       190,000,000.00          890.88895605   0.00000000       11.98777747    0.00000000    0.00000000
2A-2         3,500,000.00         1000.00000000   0.00000000        0.00000000    0.00000000    0.00000000
X-1A                 0.00            0.00000000   0.00000000        0.00000000    0.00000000    0.00000000
X-1B                 0.00            0.00000000   0.00000000        0.00000000    0.00000000    0.00000000
 X-2                 0.00            0.00000000   0.00000000        0.00000000    0.00000000    0.00000000
 X-B                 0.00            0.00000000   0.00000000        0.00000000    0.00000000    0.00000000
 A-R               100.00            0.00000000   0.00000000        0.00000000    0.00000000    0.00000000
 B-1        12,600,000.00         1000.00000000   0.00000000        0.00000000    0.00000000    0.00000000
 B-2         8,400,000.00         1000.00000000   0.00000000        0.00000000    0.00000000    0.00000000
 B-3         4,725,000.00         1000.00000000   0.00000000        0.00000000    0.00000000    0.00000000
 B-4         2,625,000.00         1000.00000000   0.00000000        0.00000000    0.00000000    0.00000000
 B-5         2,100,000.00         1000.00000000   0.00000000        0.00000000    0.00000000    0.00000000
 B-6         3,685,162.00         1000.00000000   0.00000000        0.00000000    0.00000000    0.00000000

<CAPTION>
                               Ending
          Total Principal   Certificate     Ending Certificate   Total Principal
Class        Reduction         Balance          Percentage        Distribution
--------------------------------------------------------------------------------
<S>       <C>               <C>             <C>                  <C>
 1A           7.35522617     877.34689753       0.87734690          7.35522617
2A-1         11.98777747     878.90117858       0.87890118         11.98777747
2A-2          0.00000000    1000.00000000       1.00000000          0.00000000
X-1A          0.00000000       0.00000000       0.00000000          0.00000000
X-1B          0.00000000       0.00000000       0.00000000          0.00000000
 X-2          0.00000000       0.00000000       0.00000000          0.00000000
 X-B          0.00000000       0.00000000       0.00000000          0.00000000
 A-R          0.00000000       0.00000000       0.00000000          0.00000000
 B-1          0.00000000    1000.00000000       1.00000000          0.00000000
 B-2          0.00000000    1000.00000000       1.00000000          0.00000000
 B-3          0.00000000    1000.00000000       1.00000000          0.00000000
 B-4          0.00000000    1000.00000000       1.00000000          0.00000000
 B-5          0.00000000    1000.00000000       1.00000000          0.00000000
 B-6          0.00000000    1000.00000000       1.00000000          0.00000000
</TABLE>

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

<PAGE>

                         INTEREST DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                                                 Beginning                   Payment of               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      822,375,000.00       1.52000%       727,556,908.98     921,572.08     0.00      0.00       0.00        0.00
 2A-1     190,000,000.00       1.50000%      169,268,901.65-     211,586.13     0.00      0.00       0.00        0.00
 2A-2       3,500,000.00       1.80000%         3,500,000.00       5,250.00     0.00      0.00       0.00        0.00
 X-1A               0.00       1.11462%       343,047,870.29     318,640.19     0.00      0.00       0.00        0.00
 X-1B               0.00       1.19491%       384,509,038.69     382,877.68     0.00      0.00       0.00        0.00
  X-2               0.00       1.21112%       172,768,901.65     174,369.53     0.00      0.00       0.00        0.00
  X-B               0.00       0.65450%        25,725,000.00      14,030.76     0.00      0.00       0.00        0.00
  A-R             100.00       3.37722%                 0.00           0.00     0.00      0.00       0.00        0.00
  B-1      12,600,000.00       1.92000%        12,600,000.00      20,160.00     0.00      0.00       0.00        0.00
  B-2       8,400,000.00       1.92000%         8,400,000.00      13,440.00     0.00      0.00       0.00        0.00
  B-3       4,725,000.00       2.52000%         4,725,000.00       9,922.50     0.00      0.00       0.00        0.00
  B-4       2,625,000.00       2.68470%         2,625,000.00       5,872.78     0.00      0.00       0.00        0.00
  B-5       2,100,000.00       2.68470%         2,100,000.00       4,698.23     0.00      0.00       0.00        0.00
  B-6       3,685,162.00       2.68470%         3,685,162.00       8,244.63     0.00      0.00       0.00        0.00
---------------------------------------------------------------------------------------------------------------------
Totals  1,050,010,262.00                                       2,090,664.51               0.00       0.00        0.00
---------------------------------------------------------------------------------------------------------------------

<CAPTION>
                           Remaining        Ending
                            Unpaid       Certificate/
          Total Interest   Interest      Notational
Class      Distribution    Shortfall       Balance
-----------------------------------------------------
<S>       <C>              <C>         <C>
  1A          921,572.08      0.00     721,508,154.86
 2A-1         211,586.13      0.00     166,991,223.93
 2A-2           5,250.00      0.00       3,500,000.00
 X-1A         318,640.19      0.00     340,037,134.52
 X-1B         382,877.68      0.00     381,471,020.33
  X-2         174,369.53      0.00     170,491,223.93
  X-B          14,030.76      0.00      25,725,000.00
  A-R               0.00      0.00               0.00
  B-1          20,160.00      0.00      12,600,000.00
  B-2          13,440.00      0.00       8,400,000.00
  B-3           9,922.50      0.00       4,725,000.00
  B-4           5,872.78      0.00       2,625,000.00
  B-5           4,698.23      0.00       2,100,000.00
  B-6           8,244.63      0.00       3,685,162.00
-----------------------------------------------------
Totals      2,090,664.51      0.00
-----------------------------------------------------
</TABLE>

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

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                              Beginning                     Payment of                         Non-
                               Current       Certificate/       Current        Unpaid         Current       Supported
             Original Face   Certificate       Notional         Accrued       Interest        Interest      Interest    Realized
Class (5)        Amount          Rate          Balance          Interest     Shortfall       Shortfall      Shortfall    Loss (6)
---------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>            <C>                <C>          <C>              <C>           <C>         <C>
   1A        822,375,000.00    1.52000%      884.70212370      1.12062268    0.00000000      0.00000000    0.00000000  0.00000000
  2A-1       190,000,000.00    1.50000%      890.88895605      1.11361121    0.00000000      0.00000000    0.00000000  0.00000000
  2A-2         3,500,000.00    1.80000%     1000.00000000      1.50000000    0.00000000      0.00000000    0.00000000  0.00000000
  X-1A                 0.00    1.11462%      872.98464192      0.81087223    0.00000000      0.00000000    0.00000000  0.00000000
  X-1B                 0.00    1.19491%      895.42484451      0.89162582    0.00000000      0.00000000    0.00000000  0.00000000
   X-2                 0.00    1.21112%      892.86254083      0.90113452    0.00000000      0.00000000    0.00000000  0.00000000
   X-B                 0.00    0.65450%     1000.00000000      0.54541341    0.00000000      0.00000000    0.00000000  0.00000000
   A-R               100.00    3.37722%        0.00000000      0.00000000    0.00000000      0.00000000    0.00000000  0.00000000
   B-1        12,600,000.00    1.92000%     1000.00000000      1.60000000    0.00000000      0.00000000    0.00000000  0.00000000
   B-2         8,400,000.00    1.92000%     1000.00000000      1.60000000    0.00000000      0.00000000    0.00000000  0.00000000
   B-3         4,725,000.00    2.52000%     1000.00000000      2.10000000    0.00000000      0.00000000    0.00000000  0.00000000
   B-4         2,625,000.00    2.68470%     1000.00000000      2.23724952    0.00000000      0.00000000    0.00000000  0.00000000
   B-5         2,100,000.00    2.68470%     1000.00000000      2.23725238    0.00000000      0.00000000    0.00000000  0.00000000
   B-6         3,685,162.00    2.68470%     1000.00000000      2.23725036    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>
   1A          1.12062268     0.00000000          877.34689753
  2A-1         1.11361121     0.00000000          878.90117858
  2A-2         1.50000000     0.00000000         1000.00000000
  X-1A         0.81087223     0.00000000          865.32295293
  X-1B         0.89162582     0.00000000          888.35006383
   X-2         0.90113452     0.00000000          881.09159654
   X-B         0.54541341     0.00000000         1000.00000000
   A-R         0.00000000     0.00000000            0.00000000
   B-1         1.60000000     0.00000000         1000.00000000
   B-2         1.60000000     0.00000000         1000.00000000
   B-3         2.10000000     0.00000000         1000.00000000
   B-4         2.23724952     0.00000000         1000.00000000
   B-5         2.23725238     0.00000000         1000.00000000
   B-6         2.23725036     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                             10,611,775.71
         Liquidations, Insurance Proceeds, Reserve Funds                         0.00
         Proceeds from Repurchased Loans                                         0.00
         Other Amounts (Servicer Advances)                                   3,085.15
         Realized Losses                                                         0.00
         Prepayment Penalties                                                    0.00
                                                                        -------------
Total Deposits                                                          10,614,860.86

Withdrawals

         Reimbursement for Servicer Advances                                 3,085.15
         Payment of Service Fee                                            194,679.36
         Payment of Interest and Principal                              10,417,096.35
                                                                        -------------
Total Withdrawals (Pool Distribution Amount)                            10,614,860.86

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                                                     194,679.36
Supported Prepayment/Curtailment Interest Shortfall                           0.00
                                                                        ----------

Net Servicing Fee                                                       194,679.36
                                                                        ==========
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
                                   Beginning     Current    Current   Ending
           Account Type             Balance    Withdrawals  Deposits  Balance
---------------------------------  ---------   -----------  --------  --------
<S>                                <C>         <C>          <C>       <C>
Class X-A Basis Risk Reserve Fund  8,000.00        0.00        0.00   8,000.00
Class X-B Basis Risk Reserve Fund  2,000.00        0.00        0.00   2,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

<TABLE>
<CAPTION>
               DELINQUENT                              BANKRUPTCY                         FORECLOSURE
----------------------------------------    --------------------------------    --------------------------------
                No. of       Principal                  No. of     Principal                No. of     Principal
                Loans         Balance                   Loans       Balance                 Loans       Balance
<S>           <C>           <C>             <C>        <C>         <C>          <C>        <C>         <C>
0-29 Days            0              0.00    0-29 Days         0         0.00    0-29 Days         0         0.00
30 Days              3      1,315,871.08    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
              --------      ------------               --------     --------               --------     --------
                     3      1,315,871.08                      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       0.121408%         0.142082%   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%
              --------      ------------               --------     --------               --------     --------
              0.121408%         0.142082%              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           3     1,315,871.08
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                      3     1,315,871.08

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

0-29 Days   0.000000%   0.000000%   0-29 Days  0.000000%        0.000000%
30 Days     0.000000%   0.000000%   30 Days    0.121408%        0.142082%
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%              0.121408%        0.142082%
</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   3,085.15
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                     Subordinated Level/Credit Enhancement/Class Percentage and Prepayment Percentage
------------------------------------------------------------------------------------------------------------------------
                  Original $         Original %        Current $         Current %      Current Class %     Prepayment %
               ----------------     -----------     --------------     ------------     ---------------    -------------
<S>            <C>                  <C>             <C>                <C>              <C>                <C>
   Class A     1,050,010,162.00     99.99999048%    926,134,540.79     100.00000000%        96.314233%         0.000000%
   Class 1A      227,635,162.00     21.67932736%    204,626,385.93      22.09467166%        77.905328%     2,113.680184%
Class 2-A-1       37,635,162.00      3.58426611%     37,635,162.00       4.06368193%        18.030990%       489.205893%
Class 2-A-2       34,135,162.00      3.25093604%     34,135,162.00       3.68576708%         0.379915%        10.253357%
Class X-1-A       34,135,162.00      3.25093604%     34,135,162.00       3.68576708%         0.000000%         0.000000%
Class X-1-B       34,135,162.00      3.25093604%     34,135,162.00       3.68576708%         0.000000%         0.000000%
  Class X-2       34,135,162.00      3.25093604%     34,135,162.00       3.68576708%         0.000000%         0.000000%
  Class B-1       21,535,162.00      2.05094776%     21,535,162.00       2.32527360%         1.360493%        36.912085%
  Class B-2       13,135,162.00      1.25095558%     13,135,162.00       1.41827795%         0.906996%        24.608057%
  Class B-3        8,410,162.00      0.80095998%      8,410,162.00       0.90809290%         0.510185%        13.842032%
  Class B-4        5,785,162.00      0.55096242%      5,785,162.00       0.62465676%         0.283436%         7.690018%
  Class B-5        3,685,162.00      0.35096438%      5,685,162.00       0.39790785%         0.226749%         6.152014%
  Class B-6                0.00      0.00000000%              0.00       0.00000000%         0.397908%        10.795795%
</TABLE>

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

<TABLE>
<CAPTION>
                    Original $     Original %     Current $      Current %
<S>               <C>              <C>          <C>             <C>
    Bankruptcy       163,046.00    0.01552804%     163,046.00   0.01760500%
         Fraud    31,500,308.00    3.00000001%  18,795,490.62   2.02945574%
Special Hazard    11,240,000.00    1.07046573%  10,702,836.20   1.15564594%
</TABLE>

Limit of subordinate's exposure to certain types of losses

<PAGE>

                          DELINQUENCY STATUS BY GROUP

<TABLE>
<CAPTION>
                                                  GROUP 1
-----------------------------------------------------------------------------------------------------------
             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            2   1,027,471.80    30 Days             0       0.00    30 Days            0        0.00
60 Days            0           0.00    60 Days             0       0.00    60 Days            0        0.00
90 Days            0           0.00    90 Days             0       0.00    90 Days            0        0.00
120 Days           0           0.00    120 Days            0       0.00    120 Days           0        0.00
150 Days           0           0.00    150 Days            0       0.00    150 Days           0        0.00
180+ Days          0           0.00    180+Days            0       0.00    180+ Days          0        0.00
            --------   ------------                 --------   --------                --------    --------
                   2   1,027,471.80                        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     0.102302%      0.137153%   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%
            --------   ------------                 --------   --------                --------    --------
            0.102302%      0.137153%                0.000000%  0.000000%               0.000000%   0.000000%

<CAPTION>
                                 GROUP 1
--------------------------------------------------------------------------
               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            2     1,027,471.80
60 Days             0        0.00    60 Days            0             0.00
90 Days             0        0.00    90 Days            0             0.00
120 Days            0        0.00    120 Days           0             0.00
150 Days            0        0.00    150 Days           0             0.00
180+ Days           0        0.00    180+Days           0             0.00
             --------    --------                --------     ------------
                    0        0.00                       2     1,027,471.80

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

0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%        0.000000%
30 Days      0.000000%   0.000000%   30 Days     0.102302%        0.137153%
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%               0.102302%        0.137153%
</TABLE>

<TABLE>
<CAPTION>
                                                  GROUP 2
-----------------------------------------------------------------------------------------------------------
             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            1     288,399.28    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
            --------     ----------                 --------   --------                --------    --------
                   1     288,399.28                        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     0.193798%      0.162943%   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%
            --------     ----------                 --------   --------                --------    --------
            0.193798%      0.162943%                0.000000%  0.000000%               0.000000%   0.000000%

<CAPTION>
                              GROUP 2
------------------------------------------------------------------------
                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            1     288,399.28
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                       1     288,399.28

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

0-29 Days    0.000000%   0.000000%   0-29 Days   0.000000%      0.000000%
30 Days      0.000000%   0.000000%   30 Days     0.193798%      0.162943%
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%               0.193798%      0.162943%
</TABLE>
<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
             Collateral Description                                  Mixed ARM
<S>                                                               <C>
Weighted Average Gross Coupon                                           2.934754%
Weighted Average Net Coupon                                             2.684754%
Weighted Average Pass-Through Rate                                      2.684754%
Weighted Average Maturity (Stepdown Calculation)                             284

Beginning Scheduled Collateral Loan Count                                  2,487
Number of Loans Paid in Full                                                  16
Ending Scheduled Collateral Loan Count                                     2,471

Beginning Scheduled Collateral Balance                            934,460,972.63
Ending Scheduled Collateral Balance                               926,134,540.79
Ending Actual Collateral Balance at 28-Nov-2003                   926,134,542.27

Monthly P&I Constant                                                2,285,343.87
Special Servicing Fee                                                       0.00
Prepayment Penalties                                                        0.00
Realization Loss Amount                                                     0.00
Cumulative Realized Loss                                                    0.00

Class A Optimal Amount                                             10,340,727.45

Ending Scheduled Balance for Premium Loans                        926,134,540.79

Scheduled Principal                                                         0.00
Unscheduled Principal                                               8,326,431.84
</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                     2.927052           2.967195                 2.934754
Weighted Average Net Rate                        2.677052           2.717195                 2.684754
Pass-Through Rate                                2.677052           2.717195                 2.684754
Weighted Average Maturity                             284                284                      284
Record Date                                    11/28/2003         11/28/2003               11/28/2003
Principal and Interest Constant              1,842,064.56         443,279.31             2,285,343.87
Beginning Loan Count                                1,966                521                    2,487
Loans Paid in Full                                     11                  5                       16
Ending Loan Count                                   1,955                516                    2,471
Beginning Scheduled Balance                755,188,905.98     179,272,066.65           934,460,972.63
Ending Scheduled Balance                   749,140,151.86     176,994,388.93           926,134,540.79
Scheduled Principal                                  0.00               0.00                     0.00
Unscheduled Principal                        6,048,754.12       2,277,677.72             8,326,431.84
Scheduled Interest                           1,842,064.56         443,279.31             2,285,343.87
Servicing Fee                                  157,331.02          37,348.34               194,679.36
Master Servicing Fee                                 0.00               0.00                     0.00
Trustee Fee                                          0.00               0.00                     0.00
FRY Amount                                           0.00               0.00                     0.00
Special Hazard Fee                                   0.00               0.00                     0.00
Other Fee                                            0.00               0.00                     0.00
Pool Insurance Fee                                   0.00               0.00                     0.00
Spread 1                                             0.00               0.00                     0.00
Spread 2                                             0.00               0.00                     0.00
Spread 3                                             0.00               0.00                     0.00
Net Interest                                 1,684,733.54         405,930.97             2,090,664.51
Realized Loss Amount                                 0.00               0.00                     0.00
Cumulative Realized Loss                             0.00               0.00                     0.00
Percentage of Cumulative Losses                      0.00               0.00                     0.00
Prepayment Penalties                                 0.00               0.00                     0.00
Special Servicing Fee                                0.00               0.00                     0.00
</TABLE>

<PAGE>

                            MISCELLANEOUS REPORTING

<TABLE>
<S>                                                             <C>
Group 1

One Month LIBOR Loans                                           353,059,724.80
Six Month LIBOR Loans                                           396,080,427.06
Pro Rata Senior Percentage                                           96.341048%
Senior Percentage                                                   100.000000%
Senior Prepayment Percentage                                        100.000000%
Subordinate Percentage                                                0.000000%
Subordinate Prepayment Percentage                                     0.000000%

Group 2

Pro Rata Senior Percentage                                           96.372461%
Senior Percentage                                                   100.000000%
Senior Prepayment Percentage                                        100.000000%
Subordinate Percentage                                                0.000000%
Subordinate Prepayment Percentage                                     0.000000%
</TABLE>